The budget is a document that communicates the Village’s plan for revenue and expenditures each year. The document includes several important pieces of information that promote this cause including the Village’s fund structure, fund descriptions, budget summaries, and individual budgets supported by a narrative for each department. It also directs the operations of the Village by allocating resources to help the Village realize its goals for the year as determined by the Board.
This direction includes all operational or governmental activities, business-like activities (Recreation Fund, Solid Waste Fund, etc.), and fiduciary responsibilities (Pension liabilities, etc.). Through this presentation, the Village can adhere to its financial policies, ensure revenues support expenditures, maintain cash reserves, and allow for long-range planning and financial health of the Village.
Lastly, this process allows the Village to promote accountability and transparency to residents and other stakeholders so that they understand where and how their tax dollars are being spent.