Goal Setting Workshop Sets a Solid Course for the Next Budget Year
On Thursday, November 4th, the Village of Woodridge Mayor and Board of Trustees surpassed another milestone in the Village's Strategic Management process by holding a Goal Setting Workshop to set the direction for the Village's Five Year Plan and the upcoming budget process. The meeting marks the halfway point in the Village's fiscal year which began on May 1, 2010.
The goals the Village Board selected mirror very closely what they heard from residents through the course of the annual Town Meeting. The coming year will focus on stimulating the business community, keeping the community safe and clean, being transparent in government actions, reducing the residential tax burden, and ensuring that the Village infrastructure is up to par.
The Board objectives direct staff to seek out businesses that increase local revenues and jobs which aids in reducing the tax burden residents bear. Staff will also market the advantages of doing business in Woodridge, including touting the fact that the Woodridge sales tax rate is below that of many neighboring communities.
A full listing of the goals and priorities is available at www.vil.woodridge.il.us.
The Board also approved the tax levy determination for the 2010 Levy. A “middle of the road” approach was selected which would increase the average homeowner's property tax by $8. This approach strikes a balance between competing concerns over possible revenue reductions related to the economy/state and the desire not to increase the tax burden on Woodridge residents during the recession. The Village Board made this choice with the understanding that next spring they may be in a position to abate (reduce) a portion of the tax levy if other revenue projections would support such an action.
Significant expenditure reductions were made in the previous budget year in response to drastic reductions in revenues across the board. Staffing levels were reduced by nearly 15% and significant additional expenditure reductions were made to close the projected deficit. These reductions and the stabilizing of revenues has aided in creating a more sustainable financial plan. However, an ongoing structural deficit and uncertainty regarding potential changes in revenue sources led the Board to support a tax levy that provides more flexibility in ultimately constructing a budget and five year plan.