FY 2009 Budget HighlightsGENERAL FUND
Sixty-two percent of the revenues coming into the Village are from Ad Valorem
taxes.
2. The devaluation of property values along with the implementation of Amendment
#1 has had a detrimental impact upon the Village for a combined loss of
$169,470,252.00 in taxable value. The net effect will be a loss of $1,033,768.00 in
Ad Valorem revenue to the Village.
3. Both the Investment income and the General Fund revenue estimates are down
across the board.
4. Expenses have been curtailed however; personnel costs continue to drive this
category. Personnel accounts roughly for 68% of your overall budget.
5. Reduced "Cost of living" increases along with merit raises will be preserved.
6. Health insurance alone will see an increase of 8.3% increase which was
negotiated down from 19% originally called for,
7. A workforce reduction strategy was implemented in FY2008 and will culminate
with employee buyouts, position restructuring, eliminations and layoffs. In the
General Fund a total of twenty-one (21) fulltime positions will be lost. The
Village will increase the part-time positions by three {3) fox FY2009.
8. Operating casts rose sharply due largely with the rising fuel costs. Additionally,
outsourcing service contracts are captured in this category.
9. Capital expenditures continue to be made with special attention towards Village
infrastructure maintenance and repairs. Capital replacement for essential
equipment has been accommodated. Vehicles and equipment that were slated for
replacement but that have serviceable Life will be pushed out in an effort to hold
down expenditures. The three largest expense items for FY2009 are the
replacement of the Medical Rescue Unit, Road Street overlay and the resurfacing
of the Pool at the Country Club.
10. Debt Service -The Village currently carries fve {S) debt service instruments or
loans with a combined payoff amount of $3,880,531.00 with an annual payment
of $898,172.00
11. The combined expense for FY2009 was actually reduced by $558,193.00 or 2.8%
from that of this current year.
12. The Manager's proposed budget provided for a balanced FY2009 budget with a
millage rate increase from 6.1 mills to 6.7322mills which is the Village's current
year's rolled back rate.
COUNTRY CLUB
1. There is no recommended membership rate increase for this upcoming year.
2. Memberships will be capped at 400
3. Established greens fees and cart rentals will be combined and published with an
additional playing season to better capture peak-time activity.
4. Capital improvements to the golf shop, hallways, and both locker-rooms have
been provided for.
5. Some operating highlights include the re-landscaping of the front entrance area of
the Club and the completion of all grassing of the golf course and surrounding
areas.
6. A "New" online Tee time system will be in place for FY2009.
7. The Country Club will see a reduction of 13 fulltime and one part-time position
which essentially took place last October with the outsourcing of the Golf Course
Maintenance section.
8. The Gauntry Club also has three (3) debt service instruments or loans with a
combined payoff of $4,871,877.00 and a annual payment of $498,901.00
9. The Country Club will carry a healthy contingency {profit Line) of $212,882.00