Lakeview Village Council Approves New Year’s Budget

LAKEVIEW – Lakeview Village Council unanimously approved the village’s 2022-23 fiscal year budget, 14.5221 mill property tax to support the budget and six-year capital improvement plan during of its February 8 meeting.

Lakeview Village Manager Darin Dood speaks about village finances at the Lakeview Village Council meeting on February 8. — DN Photo | Karen Bota

A public hearing on the matter elicited no comment.

The new fiscal year begins on March 1.

Village manager Darin Dood told council members at their January meeting during an in-depth review of the budget and the capital improvement plan that budget development begins in November and is “a team”. He added that department heads take more ownership of their budgets.

“It’s a huge undertaking every year and I’m always happy when it’s done,” Dood noted.

General fund

General Fund revenues of $627,784 are projected for fiscal year 2022-23, including $243,943 from property taxes, $91,000 from state revenue sharing and $90,000 from Fund administration costs Water and Sewer Fund.

Total revenue expected from the general fund and all departments including the cemetery, police, planning (zoning), public works, environment, buildings and grounds (parks) department, and the airport , are expected to be $801,554.

Total expenditures of $1,014,500 are planned, including $141,940 for municipal complex debt service, including $67,000 for the new Quonset roof and overhead door.

“It’s a volatile situation with materials,” Dood explained. “The original cost was $25,000; now it’s $40,000 six months later.

While an operating loss is expected at $212,946, Dood estimates that, barring emergencies, the General Fund will start the new fiscal year with a healthy balance of around $650,000, leaving an expected year-end balance. fiscal year of $437,054.

Special funds expect operating losses, fund balances save the day

The Major Street Fund is budgeted for $143,240 in revenue from State Transportation Fund Law 51 funds and $144,877 in expenses, including $84,553 in routine maintenance and $38,274 in winter maintenance. No construction is planned for this exercise. With the fund’s estimated opening balance of $100,000, the net loss of $1,637 leaves an estimated year-end balance of $98,363.

Lakeview president Emily Griffith, right, and village councilor Greg Saxton take part in a discussion about the new budget at the village council meeting on February 8. — DN Photo | Karen Bota

The Local Street Fund is budgeted for $47,740 in revenue from Bill 51 money plus earned interest, and expenses of $66,685, including $28,982 in routine maintenance and $25,703 in winter maintenance. With the fund’s estimated opening balance of $58,132, the net loss of $18,945 leaves an estimated year-end balance of $39,187.

The Municipal Street Fund is budgeted for $94,000 in revenue, which comes from street mileage, and $113,240 in expenses, including $60,000 in contracted services and $28,240 in debt from Pickle Dock Drive. With the fund’s estimated opening balance of $105,876, the net loss of $19,240 leaves an estimated year-end balance of $86,636.

The Asset Replacement Fund receives revenue through transfers from other government departments. The budget calls for a transfer of $40,000 from the general fund and operating expenses of $98,000 for a new patrol car, a mini and two lawnmowers. With the fund’s estimated opening balance of $105,876, the net loss of $58,000 leaves an estimated year-end balance of $47,876.

The Downtown Development Authority expects $83,209 in revenue from the TIFA capture and $92,625 in expenses. With the fund’s estimated opening balance of $80,000, the net loss of $9,416 leaves an estimated year-end balance of $70,584.

The Sewer Fund is budgeted at $282,000 in revenue, primarily from sewer fees, and $428,607 in expenses, including $65,000 in depreciation expenses, $55,000 in principal, and $40,000 in expenses. capital to rehabilitate two pumps in the lagoons.

Dood noted that this project was pushed back a year and the cost increased by $10,000. While the village is entitled to an annual rate increase for sewer and water of 2%, electricity, gas and propane are increasing by 33%, he added.

“It’s scary how much extra money is going to cost us, and 2% don’t do it for us,” he said. “If we don’t stay ahead of these things, we won’t be able to pay for the infrastructure.”

With the fund’s estimated opening balance of $175,878, the net loss of $146,607 leaves an estimated year-end balance of $29,271.

The Water Fund is budgeted at $385,233 in revenue, including $229,790 in water sales and $154,963 in miscellaneous revenue. Expenditures are budgeted at $447,552, including $154,963 in capital expenditures (which were not included in the Drinking Water Asset Management Grant), $50,000 in depreciation expenditures and $45,000 in contractual services. With the fund’s estimated opening balance of $99,770, the net loss of $62,319 leaves an estimated year-end balance of $37,451.

Asset management will be key to the long-term financial health of the water and sewer funds,” Dood told council members. Although the revenues from these funds do not meet the capital needs of the water and sewer systems, they increase with the new tariffs in place. This year, the administration will again reevaluate capital improvement plans for these systems, Dood added.

Capital Improvement Plan

The capital improvement plan is “a working document,” Dood told council members. Each year, the plan is revised for the following fiscal year.

“CIP changes from year to year,” he said. “We could come up with an expenditure next year or so down the road.”

Projects planned for the 2022-2023 fiscal year are included in the annual budget. They understand:

• Sealing chip for five municipal parking lots for $25,000 from the general fund and the operating fund of the DDA,

• Purchase of a new mini-truck equipped with a snowplow at a cost of $30,000 from the DDA operating fund and the property replacement fund,

• Sidewalk replacement in the DDA neighborhood for $40,000 from the DDA and Main Streets Fund,

• A contribution for a trail around Lake Tamarack in collaboration with the Township of Cato for $7,500 from the DDA operating fund.

Village Manager Examination

The 2022-23 fiscal year budget also includes a 3% increase for Dood. Village chairman Emily Griffith told council members at their meeting in January that the finance and finance committee had completed the review of Dood before Christmas.

“It got nothing by rave reviews,” Griffith said. “He exceeded expectations.

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