FY 24 Budget Summary
The Fiscal Year (FY) 2024 Budget centers around the Village's mission "to achieve a high quality of life by providing superior services in a fiscally responsible manner." This year's proposed budget focuses on:
- Capital infrastructure investments such as water/sewer maintenance, roadway and sidewalk improvements, and stormwater drainage improvements
- Continued investments in Village core services and programs
- Support and continuation of the current Facility Improvements Plan that includes the construction of a new Public Works Facility in 2026
- Continued investments that support public safety and crime prevention, community and economic development initiatives, community engagement initiatives, and employee training and professional development
- The creation of a plan to develop a balanced budget and eliminate the structural deficit in the Village's five-year financial forecast through the implementation of a $0.50 increase to the Village's home rules sales tax
- Maintain the Village's property tax rate flat/unchanged in 2024
Links & Resources
- Village of Woodridge FY2024 Adopted Budget
- Initially Proposed FY 2024 Budget dated September 8, 2023
- September 26, 2023 Budget Workshop Presentation
- October 5, 2023 Budget Workshop Presentation
- November 2, 2023 Budget Workshop Presentation
- November 9, 2023 Budget Workshop Presentation
- November 16, 2023 Budget Workshop Presentation
- Financial Reports Resource Page - Historical Budget Information & Reports
- FY 2024 Budget Executive Summary dated December 1, 2023
- December 7, 2023 Public Hearing Presentation
- December 15, 2023 Press Release Announcing the FY 2024 Budget
Frequently Asked Questions (FAQ)
Please note that questions and answers will be added to the FAQ as needed
What are some of the capital infrastructure investments that would be made with the adoption of the FY 24 budget?
What are some of the public safety and crime prevention investments that would be made with the adoption of the FY 24 budget?
What are some of the Community and Economic Development initiatives that would be made possible with the adoption of the FY 24 budget?
What are some of the Community Engagement initiatives that would be made possible with the adoption of the FY 24 budget?
Why is there a proposed water/sewer utility rate increase for FY 2024?
Why is there a proposed increase to the Village's Home Rule (HR) Sales Tax?
When did the Village last increase HR sales tax?
When would the proposed HR sales tax increase become effective?
What is the estimated cost of the construction of a new Public Works Facility?
How will the new Public Works Facility be financed?
Why propose the creation of a new Public Works Facility rather than investing in updates at the current building?
Why is there a structural deficit in the general fund?
Is the Village proposing to increase property taxes as part of the FY 2024 budget?
What is the Village's portion of the property tax rate?
How can I provide a public comment about the FY 24 Budget?