Shorewood budget reflects improved economy
By Clare Walters Correspondent March 14, 2013 3:32PM
Updated: April 22, 2013 10:12AM
Shorewood’s 2013-2014 budget indicates that the village is emerging from the economic recession.
The village board recently approved the village’s $26 million, break-even budget bolstered over previous years by an anticipated increase in sales tax revenues.
Finance Director Sue Berg said village officials budgeted an “all-time high” of $3.6 million in sales tax revenues. Major expenses include an outlay of $1.2 million for road resurfacing, financing the construction of a water tower and creating two jobs. The village will look to hire one position in Public Works and a patrolman for Shorewood police — both positions were temporarily eliminated during the recession.
“All in all, I think the budget is in a very good position for the village,” she said.
According to the budget’s executive summary, the village expects about 70 new housing starts during the next fiscal year. On pace with the last two years, the estimate is favorable relative to other communities, it reads.
At the peak of the housing boom, the village issued 525 permits.
In keeping with the village’s growth, a 1.5-million gallon water tower will be constructed over two years. Engineers are working to secure a loan from the Illinois Environmental Protection Agency at an “advantageous (interest) rate,” Berg said.
The budget also calls for a strategic planning session with the village board and staff, continued work on building out the village’s geographic information system, the continuation of parks and recreation programming, construction of a water main, the renovation of Westshore Park and implementation of an ash tree replacement program.
Trustee Dan Anderson said the village’s budgeting process went well this year and better than years past. He thanked the village’s department heads for “keeping things tight and saving money where they can.
“I think we’re in decent shape,” he said.
The village’s budget can be viewed on its website, www.vil.shorewood.il.us. The village’s fiscal year runs from April 1 to March 31.