2024 Budget In Brief.pdf

f.ªª.›ɷD›xnɷªN.ɷn Íx› LETTER FROM THE MAYOR

The Village of Orland Park had a very successful 2023 and we are on track for an even more prosperous 2024.

improvements only if current revenue sources are not available. The proposed fiscal year 2024 budget includes borrowing for capital improvements. In 2023, the Village issued one bond series. The 2023 bonds were issued to funding for the Village’s capital program, including streets, facility maintenance, and water infrastructure.

The attached 2024 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 that are beyond our control. 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. 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 2024 budget reflects capital expenditures of $83,097,106. In addition to resurfacing and roadway improvements, other major capital expenditures reflected in this budget are found under the Capital tab in of the proposed budget. The Village survived and thrived throughout the pandemic, which occurred on the heels of several cost cutting measures. The Village was able to weather 2020 and 2021 in a strong position. Even so, the Village continues to find ways to reduce ongoing operational costs, while investing in needed capital projects. These adjustments include: Use of Fund Balance - The Village’s General Fund Balance Policy establishes a minimum level (target range) at which the projected end-of-year available fund balance should be maintained to provide financial stability, cash flow for operations, and the assurance that the Village will be able to respond to emergencies with fiscal strength. A draw-down of fund balance is proposed. However, we anticipate the General Fund will end 2024 with over 20% fund balance, which is in compliance with the Village’s policy.

For a bird’s eye view of the most recently completed

improvements, visit the Village’s GIS mapping site at orlandpark. org/maps. This includes road resurfacing and park improvements from 2019 through planned projects for 202

We've implemented 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 Village board meetings (we offer in person as well as a live broadcast on our OPTV Cable Channel and YouTube) and stay informed by joining in on one or more of our community engagement efforts which can be found on page 1

Please visit the Village website at orlandpark.org for all Village of Orland Park related news, event listings and more.

As always, please feel free to visit Village Hall and reach out to my office at or any member of Village staff with questions or concerns. Here’s to continued success in 2024.

,FJUI 1FLBV Mayor

Borrowing for Capital – The Village’s policy for issuance of long-term debt confines borrowing to significant capital

Ƚ ɷ VILLAGE OF ORLAND PARK ʴ FISCAL YEAR 2024 BUDGET IN BRIEF