2008-2009 Village Budget
John Sawyers, Homer Glen's Finance Director, was happy to report the Village general fund will finish the fiscal year ending April 30, 2008 with an operating surplus of approximately $120,000. As other communities face financial cutbacks, Homer Glen has been able to manage through the decline in the building industry by progressively managing the expenditures. The Village continues to operate with a small staff and contracts services for police and public works. It is this same approach which enables the Village to present a balanced general fund operating budget for fiscal year May 1, 2008 through April 30, 2009. The Mayor and Village Board will continue to progressively manage the finances to match the current economic conditions.
As a safeguard against continued decline in the building industry, the Village continues to conserve its resources, maximize assets and continue to investigate new revenue opportunities. A Special Census is planned to capture uncollected revenue and expects to receive over $460,000 in revenue from the new certified population. This is money the Village would not have collected if not for the special census.
Another revenue source is the additional growth in the commercial sector resulting not only in increased permit fees but sales tax revenue. The Village will continue to prioritize commercial development in its review and recruitment efforts. The fiscal 2008-2009 budget also has several significant capital projects for drainage, parks and roads. These projects will be funded through the Motor Fuel Tax (MFT) Fund, Park Fund and Capital Project Fund. The Village has accumulated resources in these funds through prudent fiscal management. Continued fiscally responsible management, coupled with new revenue sources, the Village will continue to operate on a balanced fiscal basis.