2022 Budget in Brief

LETTER FROM THE MAYOR LETTER FROM THE MAYOR

Use of Fund Balance – The Village’s General Fund Balance Policy establishes a target reserve balance of 20%. In 2017, the projected fund balance for 2022 was negative19.8%. Our conservative fiscal decisions of the last several years, have resulted in a projected 2022 fund balance of 27.6%. In 2022, these excess funds will be used to help pay for Village capital projects including road resurfacing and park refurbishment. Debt Position – At year end 2016, the Village of Orland Park’s outstanding debt was $110 million. Over the past several years, our fiscal policies have allowed us to pay down over 45% of that debt and restructure other debt resulting in significant savings. Since interest rates are at historic lows (lower than inflation), the board decided to use some of this available debt capacity for sorely needed infrastructure projects. At the end of 2022, even with a small amount of new borrowing, our debt will have been reduced by $44 million or 40% since the end of 2016. New this year is the use of ClearGov, an online financial tool that puts at the fingertips of the community a fully transparent budget book, operational budget, personnel budgeting and capital budgeting. View full details on the Village’s website at orlandpark.org/budget. I urge each of our community members to take part in our board meetings (we offer in person as well as a live broadcast on YouTube) and stay informed by joining in on one or more of our community engagement efforts which can be found on page 8. Please visit the newly revamped orlandpark.org webpage for all Village of Orland Park related news, event listings and more.

The Village of Orland Park had a very successful 2021, even under economic strain that has negatively impacted much of the country. We continue to regularly welcome new businesses and existing businesses are choosing to reinvest in Orland Park. Home sales are booming as a record number of families are making the decision to call Orland Park home. Each year, the Village Board works closely with staff to maintain fiscal accountability and implement efficiencies to make the most of our hard-earned tax dollars. The attached 2022 budget maintains the high quality Village services offered to residents while allowing for capital investment in facilities and improvements, as well as the development of other initiatives to help establish a solid foundation for the community for years to come, all while facing the economic challenges posed by the pandemic. The proposed budget continues the funding of General Fund services without the use of a General Fund property tax. As a result, Village residents enjoy one of the lowest municipal tax rates in the area. Since 2012, the Village’s overall property tax levy amount has remained flat. The Village will continue to examine municipal services and develop strategies that enable the Village to match resources (financial, physical and human) to the desired level of service. We will continue to examine further cost cutting measures such as outsourcing options, investing in appropriate technology and equipment to improve overall efficiency, and additional examination of government consolidation and cooperation, as well as increased economic development. The fiscal year 2022 budget reflects capital expenditures, capitalized lease costs and lease payments of $68,826,815. In addition to resurfacing and roadway improvements, other major capital expenditures reflected in this budget can be found within the pages of this publication. With the challenges posed by the pandemic, adjustments were made to balance the budget. These adjustments included:

As always, please feel free to visit Village Hall and reach out to my office or staff with questions or concerns.

Here’s to continued success in 2022.

Keith Pekau | Mayor

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VILLAGE OF ORLAND PARK | FISCAL YEAR 2022 BUDGET IN BRIEF