Western Springs Finances: ‘Good News All Way Across’
WESTERN SPRINGS, IL — Compared to 2020, Western Springs’ village government is doing much better financially, an official said this week.
At a Village Board meeting, Trustee Heidi Rudolph updated her colleagues on the village’s books.
Here is some of the information that Rudolph gave:
- Sales tax revenue is up 12 percent.
- Local use tax revenue has spiked 27 percent. This tax is for things such as out-of-state vendors making retail sales to Illinois businesses or consumers, according to the state.
- Income tax distributions from the state are up 40 percent. Last year, officials noted they were concerned because the village had not received 100 percent of its income tax money. “It’s nice to have it restored,” Rudolph said.
- Red-light camera fines are lagging, particularly because of construction work at Ogden Avenue and Wolf Road.
- Billed water consumption increased 10 percent in the April 15 to June 15 period from a year ago.
- The police pension fund has a 12-month trailing return of 24 percent. The assumption was an annual rate of 6.7 percent.
After Rudolph’s report, Trustee James Tyrrell said, “It sounds like very good news all the way across. People are spending more at stores and restaurants.”
Village President Alice Gallagher said she remembered a bump in sales tax revenue last year.
At first, Rudolph said, that was the case.
“Our residents were shopping more at Mariano’s, Walgreens and Casey’s. There was a bit of an uptick,” she said. “But all of the restaurants were negatively impacted. There was more spending (at stores). That was our hypothesis at the time. The sales tax was decreased by the restaurants.”