Elburn ends the year in the black

By on June 1, 2012

ELBURN—The village of Elburn ended the fiscal year with a positive balance, with more money to start this year than it had at the beginning.

The balance on April 30, 2011, was $5.2 million, and the balance on the same date in 2012 was $5.7 million. This is despite the additional $162,000 the village had to take out of its general operating fund to set aside for the police pension fund.

Setting aside the funding for the police pension is a mandate by the state now that the village is over the 5,000 population mark. Elburn residents this spring rejected a referendum to pay the amount out of an additional fee or tax. Another lesser payment into the fund will be mandatory in subsequent years.

Village President Dave Anderson credited Village Administrator Erin Willrett and other village staff members for holding the line on other budget items to keep the village in good financial standing.