Village Considers Proposed Fiscal Year 2012-2013 Budget
On March 3, 2012 the Mayor and Village Board held a budget workshop to review the Village of Woodridge's proposed Fiscal Year 2012 – 2013 budget. Village Administrator Rush and staff provided a synopsis of the major elements of the upcoming budget and answered questions asked by elected officials. The presented budget addresses the community's goals of maintaining a safe community, stimulating the business community, fostering intergovernmental cooperation, reducing the residential tax burden, and improving government accountability and transparency.
Key elements of the workshop include a reduction in General Fund operating expenditures by $400,000 from what was projected for the current fiscal year, with the upcoming budget decreasing expenditures by that same amount. Additionally, $1.76 million in capital grants awarded to the Village will allow for street resurfacing, patching, and traffic signal improvement projects to take place this year with additional projects taking place during the next two.
Highlights of the budget include the Village responding to changing business demands and improving technology to better serve residents and businesses. This includes financing for the launch of CopLogic – software that will allow for convenient self reporting of minor crimes that do not require an officer to immediately respond. Additional components of the budget include a minimal increase of $5 per year that the average household will pay for the Village's portion of the property tax. The budget calls for no reductions in the core services provided to residents and includes no personnel layoffs.
This year will also mark the beginning of the Town Centre planning effort, where members of the community will work together to develop a plan for the Town Centre property. As with many communities, increased costs to maintain the water system and to purchase water will mean increases in the water rate and customer service charges this year. The increase will be approximately $2.03 per month for the average customer. The pedestrian bridge proposed for construction over Route 53 has been eliminated from the five-year financial plan after outside funding sources declined. The five-year financial plan includes financing to address Village space needs related to Police and Public Works operations. The plan also incorporates the Village Board's policy of property tax rate increases not to exceed the Village's self-imposed property tax cap.