2022 Budget in Brief

BUDGET PROCESS

In accordance with State Statutes, the Village is required to adopt a budget prior to the beginning of the Fiscal Year, which begins on January 1, 2022. The attached adopted 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 with a modest use of a General Fund property tax for operations. As a result, Village residents enjoy one of the lowest municipal tax rates in the area. Budgeted expenditures and other uses for all funds in fiscal 2022 total $181,473,761, an increase of 13.8%. On an operating basis, Village-wide budgeted expenditures total $112,646,947, a decrease of $9,215,928, or 7.6% from the 2021 original adopted budget. BUDGET PROCESS

Budgeted revenues for all funds in fiscal 2022 total $133,563,827, an increase of 11.1% (excluding bond proceeds). This year’s budget also calls for borrowing $12.5M for capital projects in the Capital Projects Fund, which is $4.35M less than 2021. Changes included relate to higher anticipated sales tax revenue (including Home Rule Sales Tax) due to strong economic performance and a new state statute that collects sales tax on internet sales based on delivery location. Sales Tax and Home Rule Sales Tax is budgeted $13,046,294 (49.5%) higher than the amount budgeted for 2021, and 3% higher than 2021 projected. The only other notable increase relates to Water & Sewer usage fees, which will factor an inflationary increase of 4.5%.

No new revenue sources are proposed for the fiscal year 2022 budget. Instead, the Village will continue to

AUG.

SEPT.

JULY

BUDGET KICKOFF

BUDGET TEAM MEETINGS

BUDGETS PREPARED

Budget worksheets are created in the Village's Financial System. Instructions and deadlines are provided to operating departments.

Meetings are conducted with operating departments to discuss and finalize their budgets. The proposed budgets are then submitted to the Village Board.

Budget preparation process is reviewed at Village Manager staff meetings. The operating department’s budgets are prepared and entered into the financial system.

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VILLAGE OF ORLAND PARK | FISCAL YEAR 2022 BUDGET IN BRIEF