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Director
of Finance
email: bertrandn@vil.bourbonnais.il.us
Under the direction of Finance Director Nancy Bertrand and in cooperation
with the Village Treasurer, the Finance Department is responsible for
collecting and accounting of all funds received and expended by the
Village, maintaining the financial investments of the Village, and providing
information to the Mayor, Board of Trustees, Village Administrator and
Department Heads as to the status of these funds.
BUDGET
The fiscal year for the Village of Bourbonnais extends from May 1
through April 30th. In early February of each year, efforts begin
for the preparation of a new budget. It is the policy of the Village
to have adopted by May 1 of each year a new budget to regulate spending
throughout the fiscal year.
The Village of Bourbonnais has established six operating and proprietary fund budgets to regulate spending.
General Fund: This budget regulates the day-to-day spending for all
Departments, Central Services and Capital Projects.
Special Tax Allocation Fund: This budget regulates spending within the
Village's Tax Increment Financing District
Motor Fuels Tax: This budget regulates spending for IDOT approved road
improvements and road salt purchases.
Sewer Operating Fund: This budget regulates spending for operation of
the wastewater collection system. The Village owns and maintains the
system and currently has in excess of 6200 customers.
Sewer Depreciation Fund: This budget sets aside funds on an annual basis
for future improvements to the sanitary sewer system.
Revolving Loan fund: This budget regulates expenditures for funding
to assist businesses seeking to locate or expand in Bourbonnais.
Copies of the current budgets are available for review at the Village Hall.
APPROPRIATION ORDINANCE
By law, the Village is required to adopt and file with the County an
Appropriation Ordinance. This document sets the maximum amount of funds
that may be expended by the Village during the fiscal year.
A copy of the current Appropriation Ordinance is available for review at the Village Hall.
TAX LEVY
By law, the Village is required to adopt and file with the County a
tax levy ordinance. This document establishes the amount of funds to
be raised via property taxes. Ordinarily, the property tax levy reflects
less than 15% of the revenues received each year by the village. The
primary source of general fund revenue for the Village is sales tax
(28.95%) and income tax (19.30%).
During the period from 1990 through 2001, the property tax rate for the Village has fallen from a high of .992, or 12.2% of the total levy to a rate of .461, or less than 6% of the total levy.
The following chart reflects the Village’s tax rate since 1995, as well as the percentage of that rate to the overall rate.
INVESTMENT POLICY
The Village, in 1999, adopted an Overall Investment Policy. The policy is designed to provide guidance in the fiscal management of Village operations, the primary purposes of which are:
to assure compliance with all Federal, State and Local laws governing
the investment of monies under the control of the Finance Director and
the Village Treasurer; and
to protect
the principal monies entrusted to those Offices; and
to generate
the maximum amount of investment income within the parameters of the
investment policy and the guidelines for suitable investments.
A copy of the Bourbonnais Investment
Policy is available for review at the Village Hall.