Hinsdale In Strong Financial Position: Official

HINSDALE, IL — Given its finances, Hinsdale can deal with any significant shortfalls in income because of the pandemic, but it is delaying most capital projects just in case, the village president said this week. The village comes into the crisis with millions of dollars on hand.

At Monday's Village Board meeting, Village President Tom Cauley said Hinsdale had $8.2 million in reserves at the end of last year. That's almost 40 percent of 2020's operating and capital expenses, he said.

For calendar year 2020, the village has a budget surplus of $3.7 million and a contingency of $150,0000, meaning it could address any major revenue shortfall, Cauley said.

"We've decided to defer all capital projects that can be deferred to conserve cash," Cauley said.

The village is one of the wealthiest in Illinois. Its median household income is $189,000, about three times the state's, according to the U.S. Census.

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