Mount Prospect's budget process is in high gear.
This week, village Finance Director David Erb presented a 2013 budget of $93.1 million, a 3.4 percent increase from this year's spending plan. It includes $60.2 million for village operations, a 5.9 percent hike -- and the first increase to the operating budget in two years.
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"In fact, three years ago, we actually made reductions throughout the budget year to bring that down," Erb said. "So this is the first year that we actually put additional monies back into the (operating budget)."
The budget Erb presented to village trustees is balanced, something he said was an achievement given that earlier forecasts called for a $900,672 budget deficit.
"Kudos to the (village) departments to bring that budget into balance," he said.
Erb had additional good news about this year's budget: the village is anticipating a surplus of $293,655, with projected revenues 2 percent over budget.
The 2013 budget calls for a 3.95 percent increase in the tax levy, which means that the village's tax bill for a home with valued at about $310,000 would be about $953, up from $917 this year.
Of the anticipated $90.5 million in revenues next year, only include $19.8 million would come from property taxes, Erb said.
Charges for services are expected to amount to $22.3 million, an 8 percent increase that Erb attributed to rising costs of Lake Michigan water.
On the expense side, pensions account for $7.9 million, while capital costs take up $12.2 million, a 14.6 percent drop.
The village board will continue its budget discussions Nov. 13. The first reading of the budget and levy will take place on Dec. 4, with a public hearing on the budget and the adoption of the budget and levy on Dec. 18.