Regular Village Board meetings are typically held at 7:00 p.m., the first three Tuesdays of each month in Council Chambers of Village Hall (room 201), 123 Madison St. When a Regular Meeting falls on a holiday, the meeting typically is held the following night. The Village Board also meets in special sessions from time to time. However, dates and times of Special Meetings can vary and may change.

File #: ID 21-348    Name:
Type: Report Status: Regular Agenda
In control: President and Board of Trustees
On agenda: 11/8/2021 Final action:
Title: Village Board Review of the Recommended Fiscal Year 2022 Budget
Attachments: 1. FY22 Recommended Budget, 2. 2022 Budget Meeting 110821, 3. Memo for Special Meeting 11.8, 4. Article discussing inflation, 5. Memo Community Relations Fair Housing, 6. Memo Adjudication Postage, 7. Memo Restorative Justice, 8. Memo Police Able Training, 9. Memo Vision Zero Consultant PW-Eng, 10. Memo - Placeholder for Community Safety Study Outcomes, 11. Firefighters 3 new position analysis, 12. City Population vs Ambulace, 13. VMO Ext Support & Legislative Memberships
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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Submitted By
Steve Drazner, CFO

Agenda Item Title
Title
Village Board Review of the Recommended Fiscal Year 2022 Budget

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Overview
Overview
This meeting is the first meeting of the full Village Board, after the Finance Committee's review, to review the recommended budget for FY22. Staff will be available to review and answer questions on any of the following budgets:

1) General Fund
2) Special Revenue Funds
3) Capital Improvement Funds
4) Enterprise Funds
5) Internal Service Funds
6) Fiduciary Funds


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Anticipated Future Actions/Commitments
Recommendation
Additional meetings are set-aside on the Board's calendar in November and December, if required, to review and discuss the FY22 budget recommendations. An updated recommended FY22 budget document will be issued by staff for the November 15, 2021 Public Hearing on the budget as part of the Regular Village Board meeting to incorporate updated information as reported during Finance Committee meetings. In addition, the document will contain two years (FY22 and FY23) revenues and expenditures.
It is anticipated that the FY22 Budget will be presented for adoption on Monday, December 6, 2021.

Body
Report
Annually the Village Board begins the budget preparation process in the summer for the following fiscal year. This work began with the Village Board's official receipt, review and acceptance of the Comprehensive Annual Financial Report (CAFR) for the year ending December 31, 2020 on June 21, 2021. The Village Board then held a Special Meeting on July 12, 2021 to review the Police and Fire Pensions and on July 26, 2021, the Village Board additionally held a special meeting to hear from Village Departments regarding their anticipated priorities for FY22. The Finance Committee of the Village Board held two (2) meetings in Sept/Oct to review the recommended FY22-26 CIP budget and three (3) meetings to review the FY22 Operating budget. In addition, a public hearing for Truth in Taxation wa...

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