Northbrook Water Fund Heading for Red

The Village of Northbrook’s water fund may be headed for the red five years from now due to an increasingly expensive capital costs.

It’s “a classic dilemma,” Northbrook Village Trustee Todd Heller explained during the board’s public works committee meeting on April 28, the Northbrook Star reports. Revenue is simply not meeting expenses.

New projections indicate that despite two water-fee increases since 2012, the Northbrook water fund will lose $1.3 million this year.

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At the start of the village’s just-ended fiscal year, the fund contained $3.5 million.

The rise in capital costs is evident by finding a total of $9.7 million in that line item has been spent over the last five years, but initial projections show that number could balloon to $16.7 million between next year and 2020.

more via the Northbrook Star