Dupage Policy Journal

Roselle Village finance officials gave a brief overview of the budget during a Village Board meeting on Nov. 7.

"Property taxes there will be levied will be about $27,000 less than we threw into the budget,"  Director of Finance Tom Dahl said. "Actually, the EAV for Cook County decreased by $8 million, which was a surprise."

Expected revenues for 2023 are set to decrease by 1.3%, with expected expenditures increasing by approximately 4%. The ending fund balance will still be positive, with a growth of just below 0.2%. The board also continues to surpass the 45% reserve goal, with 55% in reserves.

The final state of the Fiscal Year 2022 budget shows an expected $1 million surplus following the village's completed goal of transferring $750,000 to the general fund. The board is expecting a downturn due to rising inflation and project costs.

Key factors involved in the finalization of the 2023 budget included the looming recession in the economy and the maxed-out 5% property tax despite CPI being at 7%. The budget also includes the 45-cent increase in water-sewer prices and estimated inflation prices for goods included in Roselle's 2023 capital improvement projects.