West Cook News

The Village of La Grange recently released their annual operating and capital improvement budget for the fiscal year beginning May 1.

The $40 million budget includes plans for several major infrastructure projects such as the reconstruction of the water main on Brainard Avenue and a major portion of Shawmut Avenue.

“So the Village's annual operating and capital improvements budget for the fiscal year beginning May 1, 2023, is a key document as it sets forth our spending priorities and revenue sources over the next five years,“ Trustee Lou Gale said in the April 24 La Grange City Council meeting. “Numerous budget discussions were held over the past six months to develop this final budget document and the five year financial plan.“

At the meeting, La Grange officials received the final presentation on the budget that will help guide their financial planning and decisions for the next five years. Gale discussed the timeline of the budget creation process, which included public hearings and opportunities for residents to share their thoughts for the Village’s budget.

“The final fiscal year 2023-24 budget reinforces our village's commitment to prudent financial stewardship and maintains the village's stable financial position, which is the result of years of financial discipline as the village by the Village board and staff,” Gale said.

The total budget proposed is a $40 million operating and improvement budget. It shows an estimated surplus of $898,000 in the general fund at the end of fiscal year 2022-23, which is directly on track for the Village's revenues and fund amount goals for 2027. The budget calls for an increase in the rates for downtown parking spaces and parking fines, which were set to go up in 2021 but were delayed because of the pandemic. The increases will aid in equipment and enforcement costs. The budget also anticipates increased revenues from sales taxes on online sales and the Village’s share of state sales tax revenues, along with a 500% increase in interest income.

The Village has $7.2 million worth of projects to be done in the next fiscal year. Those major projects include the reconstruction of the water main on Brainard Avenue and the reconstruction of a major portion of Shawmut Avenue. Additional projects will be related to storm sewer improvements and sewer relining.

“The replacement of the village's aging water and sewer infrastructure also remains an important long-term goal based upon the recently completed water and sewer rate study,” Gale said. “Ten percent increase in water and sewer rates is required in order to continue to fund utility operations. Water main replacement and sewer lining project revenues generated by the water rate increase will also support bond funding for future water main projects.”

Overall, La Grange's annual operating and capital improvement budget aims to continue the village's responsible financial practices while supporting necessary infrastructure projects.