FY19 Budget is Proposed at County Board Meeting
Thu, 13 Sep 2018 12:37:51 CDT
Members of the Montgomery County Board got a look at the first proposed budget for Fiscal Year 2019 during their monthly meeting Tuesday morning.
The board will vote on the budget at their meeting in November. Finance Committee Chair Megan Beeler told the board that there will be revisions between Tuesday's meeting and November, and that there is currently a deficit in the general fund. In total, the budget calls for $21.9 million in expenses and $20.9 million in revenue for the upcoming fiscal year.
The board was also introduced to a $6.6 million tax levy for the fiscal year, which caused some disagreement between board members. Glenn Bishop said he believes the county is over taxing and over levying for Illinois Municipal Retirement Fund (IMRF) expenses that he said are not due until a few years down the road. Beeler responded that the county has an obligation to fund employee pensions and that "the money is not just sitting there," but rather "is a work in progress." She said she believes the county needs to get through one big retirement that is on the books for this year and then take a look at the issue again next year.
The next Montgomery County Board meeting is scheduled for Tuesday, October 9, at 8:30 a.m.
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