2024 Village Budget

925 15th Avenue, a public hearing on the 2024 Proposed Budget of the Village of Union Grove will be held. The proposed budget in detail is available for inspection at the Village Clerk's office from 8:00 A.M. to 4:30 pm, Monday through Friday. The following is a summary of the proposed budget. 2023 Adopted Budget 2024 Proposed Budget % Change REVENUES PROPERTY TAXES 1,520,297 1,251,104 -17.7% INTERGOVERNMENTAL 695,275 867,588 24.8% LICENSES AND PERMITS 230,000 194,500 -15.4% FINES, FORFEITURES & PENALTIES 70,000 70,000 0.0% INVESTMENT INCOME 25,000 75,000 200.0% MISCELLANEOUS REVENUE 115,436 106,400 -7.8% OTHER FINANCING SOURCES 203,309 203,309 0.0% Total Revenues 2,859,317 2,767,901 -3.2% EXPENDITURES GENERAL GOVERNMENT 649,052 744,274 14.7% PUBLIC SAFETY 1,129,623 872,311 -22.8% PUBLIC WORKS 874,065 892,144 2.1% HEALTH & HUMAN SERVICES 11,500 11,500 0.0% CONSERVATION & DEVELOPMENT 10,000 10,000 0.0% OTHER FINANCING USES 185,077 237,672 28.4% Total Expenditures 2,859,317 2,767,901 -3.2% Fund Balance 1/1/24 Total Revenues Total Expenditures Balance 12/31/24 Property Tax Contribution General Fund 421,108 2,767,901 2,767,901 421,108 1,238,044 Recreation and Parks Fund 36,759 141,680 141,680 36,759 - Library Fund 458,371 339,377 339,377 458,371 - Water Utility 1,364,499 2,754,932 2,644,698 1,474,733 - Wastewater Utility 3,674,090 1,771,500 1,580,776 3,864,814 - Storm Water Utility Fund 424,904 486,000 462,940 447,964 - Capital Projects Fund (640,391) 1,372,934 623,500 109,043 342,785 Debt Service Fund 18,340 564,731 564,731 18,340 505,963 Impact Fee Fund 138,735 31,313 25,000 145,048 - Revolving Loan Fund 389,186 13,600 - 402,786 - TID #4 (Debt Service & Capital) 563,608 459,200 355,148 667,660 - TID #5 (Debt Service & Capital) (217,722) 271,000 222,158 (168,880) - TID #6 (Debt Service & Capital) 194,647 852,000 866,996 179,651 - TID #7 (Debt Service & Capital) (7,751) 274,000 274,000 (7,751) - Total 6,826,134 11,826,168 10,594,905 8,057,397 2,086,792 2024 Budget Summary Notice is hereby given that on Monday, November 27, 2023 at 6:00 P.M. at the Union Grove Municipal Center, Budget Summary - General Fund Projected Balances - Other Funds 2023 Budget 2024 Budget Property Taxes Levied (TID-In) 2,010,499 2,086,792 Assessed Value 445,525,500 474,832,000 Tax Rate 5.48824 4.39480 Indebtness - General Obligation 12,012,755