Finance head takes buyout in Carol Stream

The head of Carol Stream's finance department is among 12 employees who have chosen to take a buyout aimed at closing the village's budget deficit.

Finance Director Stan Helgerson, who has worked for the village for 25 years, signed up for the voluntary separation plan and will leave his post June 30.

Helgerson, 57, said he had planned on retiring in two years and the buyout program helped speed that process.

"It is going to happen and everyone will adjust and everyone will move forward," Helgerson said. "I've had a great run with the village and we've done some good things. They'll continue to do good things."

Assistant Finance Director Dawn Damolaris is expected to continue to handle the office's day-to-day operations while the village searches for a replacement.

The move could be a blow to the village as it tries to dig itself out of what was once projected to be a $2.69 million deficit. However, the buyouts offered in January and other cost-cutting measures have brought that number down to about $600,000.

The buyouts alone are expected to save the village around $400,000. Fifteen employees have expressed interest in the buyouts and 12 officially have accepted them.

Helgerson said he will still focus on wrapping up the budget by April 30. He hopes to do consulting work on a part-time basis after June. "I'm not going to just go and sit on a rocking chair somewhere," he said.

Damolaris has been with the village since 1998. Village Manager Joe Breinig said her experience will help make the transition go smoothly.

"It's not an immediate crisis," he said. "Stan is highly regarded and is a hard person to replace. But with no disrespect to Stan, everybody is replaceable."

Breinig said the ultimate goal of balancing the budget remains the intent of the program.

"We were intending to move some salaries and that's what we are doing," he said.

Last year, Helgerson was paid $132,944. His position will be one of five that will be filled at a reduced salary. Four will be filled as a part-time or reduced-status position and three will remain vacant.

Village President Frank Saverino said the village will miss Helgerson but his retirement was only a matter of time.

"He's an outstanding finance manager, no question," he said. "But some day we are all going to go. It's just a matter of when."

With so much time invested in the community, Helgerson acknowledges he will be sad when his last day rolls around. He also said fear for the future could set in.

But his departure will help the village move forward as Carol Stream continues its recovery, he said.

"When there's an opening, that creates an opportunity," he said. "I think we're in good shape in relation to others."