Village Of Montgomery: Village Of Montgomery Releases FY2023 Budget For Review

Press release from the Village of Montgomery:

March 11, 2022

Montgomery, IL – At the February 28 Board Meeting Director of Finance Justin VanVooren, announced the favorable financial position of the Village of Montgomery in a short presentation to elected officials. A public hearing on the Annual Budget of the Village (Kane and Kendall Counties) for the fiscal year beginning May 1, 2022, and ending April 30, 2023, will be held March 28 at 7P at Village Hall (200 N. River St.). 

VanVooren’s presentation to the Village Board included an overview of projected revenues for the end of FY2022, ending April 30 of this year. As a direct result of a change in Illinois tax law allowing municipalities to receive sales for internet transactions, the Village of Montgomery saw an increase in sales tax revenue in 2021. Additionally, VanVooren shared a chart demonstrating the portion of property tax revenue collected to government and state-funded entities. “On average, for every $100 paid in property taxes, $5 comes back to the Village of Montgomery to cover core and essential services we provide, such as street repairs, roadway improvement, police services, long-term infrastructure maintenance, and community development, and so on,” says VanVooren. 

For FY2023, the Village is budgeting $13.4 million in general fund revenues and $13.2 million in general fund expenses which were detailed by VanVooren in the February 28 presentation. On March 14, the Village Board will review and discuss the Village’s FY2023 capital improvements, infrastructure improvements, and water funds. FY2023 budgets include expenditures such as the new, needed Public Works facility, two new squad cars, and dollars to fund an updated master plan for the downtown Mill District. 

A copy of the proposed budget is available for review online at montgomeryil.org, or a hard copy is available at Village Hall during regular business hours, 8A-4:30P, Monday through Friday. In addition, any person desiring to appear at the public hearing and present to the Village Board may contact Deputy Village Clerk Hameeda Hashim at 331-212-9003.

For more information, visit montgomeryil.org or the Village of Montgomery’s social media pages. 

This press release was produced by the Village of Montgomery. The views expressed here are the author’s own.