Village of Lake in the Hills board members discussed the 2016 budget at its Nov. 2015 budget workshop.
Village of Lake in the Hills board members discussed the 2016 budget at its Nov. 2015 budget workshop.
The Village of Lake in the Hills held a budget workshop this past November, during which village board members discussed the budget for 2016.
During this workshop, a sales tax increase of .25 percent was in consideration by the local government, which would bring the tax up to eight percent.
The meeting also noted the budgets for the various departments within the village government. Administration Department will have $579,353 available; Finance Department will receive $688,590; Parks and Recreation will have an allocation of $970,331; Police Department will have $833,0533; its support services will have $1,166,352; and patrol services will receive $5,282,582.
Director of Finance Richard Hentschel reported that increases in both the sales and video gaming taxes are expected to increase due to the additional machines being installed and proposed increase. He reports that the telecommunication tax was indicating a decline in revenue and noted small revenue streams from licenses for tobacco, liquor and vendors.
Also included in the workshop discussions were the different funds that would be supported in the 2016 budget, including special service areas, debt services fund, health insurance fund, in addition to water operating and capital improvement funds.
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