LITH 2018 Budget Is Balanced, New Taxes On Gas And Electric

LAKE IN THE HILLS, IL — Lake in the Hills trustees are reviewing a potential fiscal 2018 budget, which is balanced and includes over $26 million of spending.

Originally, the proposed budget would have a deficit of $1 million, according to the Northwest Herald. But two new gas and electric utility taxes which are estimated to bolster the income by $1.2 million.

Village President Russ Ruzanski is relieved the budget is balanced, the Herald reported, and sees the new taxes in a positive light. "All that money is going to go forward to capital improvement," he said. “We’ve been pulling from the general fund, which is probably why we were always behind. Hopefully, we can stretch a string of balanced budgets in the future.”

The total revenue in the budget is $26,245,908, which is a slight decrease from 2017. Their spending plan only exceeds revenue by $131,151.

From the Northwest Herald:

The village plans to spend $26,377,059 on purchases that include:
• $495,000 for multiple park playground replacements, park expansions and resurfacing projects, as well as facility roofing and siding replacements
• $200,000 on Village Hall building modifications, such as replacing carpeting, installing an electronic sign and centralizing its customer service operations
• $184,000 to replace four Public Works vehicles and a tractor for facility and grounds maintenance and plowing snow
• $126,000 to replace four police squad vehicles
• $30,000 to buy a Storage Area Network for ongoing essential organizational technology infrastructure upgrades
• $1,211,000 for the Industrial Drive water main extension and Randall Road water main relocation projects
• $284,500 to eliminate displaced runway thresholds and to replace a vehicle gate for the Lake in the Hills airport
• $67,210 to pay principal and interest payments on bonds in the Airport Fund

The 2018 budget includes pay for 110 full-time employees, 81 seasonal employees and 10 part-time workers. Employees will see a 2 percent increase in salary on Jan. 1.

The budget includes plans to repave roads, support the airport, replanting trees and invests in making Lake in the Hills safer and easier on the eyes.

The Herald reported they will hold a budget hearing on Dec. 12 at 7 p.m., at the Village Hall, 600 Harvest Gate. Village trustees will vote on the budget at a Dec. 14 meeting.

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