In a recent government meeting, financial officials presented a comprehensive overview of the village's fiscal performance, highlighting significant positive results across various funds for the year.

The general fund reported actual revenues of $25.8 million, exceeding the budgeted $24 million by $1.8 million, largely due to strong investment earnings and increased ambulance revenue. Notably, the village received an unexpected $325,000 from a Monsanto settlement, contributing to this favorable outcome. Expenditures also came in under budget at $24.8 million, resulting in a net positive swing of $3.2 million compared to the budgeted use of fund balance. The year-end fund balance stood at approximately $11.3 million, representing 43% of the operating budget, well above the recommended range of 10-25%.

The debt service fund reported $16 million in revenue, primarily from tax levies and TID funds, with expenditures matching this amount. Meanwhile, the TID fund experienced a significant influx of $163 million, largely due to land sales, with $149 million attributed to this source. The TID fund ended the year with a robust $69 million in restricted fund balance.

In addition, the non-major funds collectively generated $24 million in revenue, with a notable portion coming from taxes and special assessments. These funds added nearly $3 million to their fund balance, totaling $23.6 million at year-end, despite some funds reporting deficits.

The sewer utility also showed positive trends, with revenues increasing to $14.5 million, up $800,000 from the previous year. However, expenses rose by $1.3 million, primarily due to treatment costs. The sewer utility ended the year with a net position of $126 million, reflecting the value of its infrastructure minus related debt.

Overall, the financial report indicated a strong fiscal position for the village, with officials expressing optimism about future financial stability and flexibility in managing unexpected expenses.