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Lisle approves budget after trimming costs

Lisle has approved a revised spending plan for the coming fiscal year after village officials lowered tax revenue projections by roughly $3.1 million because of the COVID-19 pandemic.

The $35.1 million budget, which takes effect May 1, is roughly $4.2 million less than what village officials were planning to spend during the 2020-21 fiscal year.

Village Manager Eric Ertmoed said staff "acted quickly" in reassessing and responding to the economic impact of the COVID-19 crisis. Expenses were reduced before the village board voted to approve the budget on Monday.

Officials initially presented a budget that anticipated $39.2 million in total revenue. They adjusted that projected number to $33.9 million once the pandemic hit.

Lost tax revenue in particular is expected to be significant.

For example, the estimate for sales tax revenue - already declining before the crisis - was reduced by roughly $1.7 million. Money collected from Lisle's tax on hotel and motel stays is projected to decline by roughly $574,000. And the estimate for income and use taxes was reduced by roughly $600,000 because of expected unemployment.

Despite the projected losses, Lisle's property tax levy will remain flat at $4.9 million.

"Through strategic investments, wise and judicious use of taxpayer revenue, the critical needs of the village will be funded without an increase to the village's portion of the property tax levy," Mayor Christopher Pecak said in a statement.

Lisle's general fund, which pays for things like salaries, is roughly $15.1 million.

The overall budget includes $1.6 million for streets and infrastructure; $845,000 for water and sewer systems; and $260,000 in stormwater improvement projects.

Ertmoed said the spending plan "continues to provide exceptional service to Lisle residents, invests in village infrastructure, safeguards taxpayer revenues, and is ever-mindful of tax burdens."

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