Finance

The two largest departments by expenditures are Police at 38% of the budget and Administration at 24% of the budget.  More than just Village Hall, Administration includes village-wide expenses such as insurance and utilities.

The Commission makes up such a small part of the budget that it is shown at 0% relative to every other department.

Interfund Transfer Out isn't an actual expenditure; it is an accounting tool used to capture funds moving between departments.  In the case of the FY2024 budget, it captures funds left over from FY2023 being moved into capital projects and other areas.

The largest portion of our revenue, 73%, comes from Ad-Valorem Taxes otherwise known as property taxes.  Following that are utility taxes, communication services taxes, and franchise fees.  All of these are related to payments coming to us from the utilities and solid waste service provider.  They are, in essence, another form of tax.

State and Local Shared Revenue are the final tax related sources of revenue; we receive these funds from various state, county, and other local sources.

The sources of revenue that we have direct control over make up the final few categories including service charges, fines and forfeitures, grants, and other revenue.  

From left to right, each department's annual expenditures are graphed to show each relative to the previous year as well as relative to each department.

During fiscal years 2020 and 2021, BP was paying back loans; that interest paid is captured in 'Debt Service'.  

'Interfund Transfer Out' isn't actually funds spent; it captures funds moved between departments.  $100,000 could be taken out of Administration and put into Police, for example.  

The links below will take you to the budget documents as well as audited and unaudited financial statements for each year.

Each budget section has an overview and then includes supporting documents showing how the numbers on the overview were calculated.