Finance committee reports revenues tracking, investments maturing and IDOT invoice deadline

At the Jan. 5 meeting of the Freeburg Village Board, Trustee Tom Carpenter, chair of the Finance Committee, summarized the committee’s December review of board expense lists and investments, noting several investments are coming due in February 2026.

Village Administrator Matt Trout told the board the village’s income statement indicates revenues around 70% of expected levels year-to-date and said there has been no update yet on the Veterans Tax pilot program. Trout also reported he was told an Illinois Department of Transportation (IDOT) invoice may be paid as late as April 2026, giving the village additional time to budget for the payment.

Carpenter said Administrator Trout will begin preparing the fiscal budget work. The committee also reviewed attorney invoices and routine fund and account balances and found overall funds compared favorably with the same time last year.

Why it matters: Investment maturities, timing of large invoices and accurate revenue projections affect short-term cash flow and budget planning for municipal services.

Next steps: Administrator Trout will start budget preparations; trustees may see proposed budget items in upcoming committee meetings listed on the schedule.