The proposed 2021 budget totals $51 million to fund a full-service municipality with 156 full-time employees at Police and Fire, Public Works, Community Development, Parks and Recreation, Finance, and Administration.
Despite rising market costs for commodities and services, personnel adjustments required by collective bargaining agreements, and funding for capital investment, the proposed 2021 budget represents a 6% decrease in expenditures compared to the 2020 budget. The proposed 2021 budget shows a projected operations surplus of approximately $9,000 for the General Fund.
The proposed 2021 budget will not require drawing down the fund balance of the General Fund. Living within our means for 2020 has resulted in a projected 2020 surplus of $8,000, bringing the fund balance to $11.4 million, of which an estimated $9.6 million will be unreserved funds, representing a 34% General Fund balance. The Village’s fund balance policy is currently to maintain a minimum of 25% for the General Fund and a target of 40%.
A copy of the proposed budget has been available for public review at Village Hall, Ela Area Public Library, and on the Village website since November 6, 2020. All interested persons are invited to attend this public hearing and provide feedback to the Village Board on the proposed budget.