Elgin passes 2024 budget

Elgin City Council members on Wednesday passed a $367.5 million budget for 2024.

The approved budget included a late change that took $5 million from a discretionary fund and put it toward reducing the amount of money the city would borrow through bond sales for lead service line replacement.

By issuing $15 million in bonds instead of $20 million, the city stands to save about $1 million in interest over the next five years.

The city still has $1 million in discretionary funds available for other initiatives not included in the budget.