McHenry Times

Algonquin Village officials are making sure they never have to face the budget fallout from a global pandemic in the same way.

Assistant Village Manager Mike Kumbera told the Daily Herald the board has adopted a financial resiliency plan that outlines strategies for responding to "trigger events," such as the ongoing COVID-19 crisis, which estimates project could result in a 5% hit to major revenue sources.

"It gives us a framework to implement some actions so we can remain financially solvent and viable," Kumbera said. "We are being proactive."

Thus far, staff members have identified about $1.5 million in potential budget reductions for fiscal year 2021 that could help offset a revenue dip. As a whole, those line items account for a shade over 7% of planned expenditures, including staff vacancies that could remain open, capital purchases that could be delayed, and repairs or upgrades that could be deferred. Kumbera added as more budget adjustments become apparent, official action might be taken. Monthly updates will be provided to board members.

"The sooner we can have these ideas on the table, the more options we do have down the road," Kumbera added.

With the goal being to adhere to the village’s mission of continuing to provide core services and maintain vital infrastructure systems, Kumbera said details of the resiliency plan highlight the way potential cost-saving measures are being broken into three stages based on their impact on village operations and the time frame to realize the benefits.