Board accepts warrants and finance reports; some ledger figures in the record unclear

The Village Board approved warrants and received financial reports on Aug. 25 that covered invoices, sales-tax receipts and the police-pension treasurer’s report.

Village staff presented invoices for two periods: $62,098.78 in payments for July 29 to Aug. 11 and $453,400.11 in payments for Aug. 12 to Aug. 25. Staff also reported VDAC fund payments of $401,706 (June) and $333,078 (July). The clerk called for a roll-call vote and trustees approved the warrants.

Finance Director Bettina reported monthly cash-basis sales-tax receipts for July of $388,491, which she said was $38,112 (10.9%) greater than the same period in the previous fiscal year. She said fiscal-year-to-date general-fund revenues of $4,996,276 were $456,144 greater than the prior fiscal year to date and that fiscal-year-to-date general-fund expenditures were $2,362,936, slightly less than the prior year for the same period.

A number read aloud later in the ledger was not clearly stated in the audio and appeared garbled in the meeting transcript (a figure read as "$100,070,750,282.89"), and a separate actuarial funding-rate number in the police-pension presentation was read in a nonstandard format. Trustees and the finance director did not flag concerns about the ledger items in the meeting, but these transcribed totals should be verified against the written finance reports and the published meeting packet before relying on the long-form totals.

On the police pension, staff said actuarial results showed an increase in the funding-rate percentage of roughly 2% compared with the prior year and that fiscal-year-2025 expenditures fell about 20% compared with the prior year due to a prior-year service-credit transfer; staff also said the pension fund’s cash balance had increased on a cash basis since consolidation but did not provide unambiguous, auditable totals in the audio record.

Discussion vs. decision: trustees formally approved warrants and accepted reports. Operational and actuarial details were presented by staff and will be reflected in the written reports.

What’s next: staff will continue to post finance reports and present the police-pension actuarial report to the pension board on Sept. 10, 2025; auditors or board members seeking precise totals should consult the written reports and ledger entries in the meeting packet.