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The original item was published from 11/17/2023 6:38:09 AM to 12/1/2023 12:00:03 AM.

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Posted on: November 19, 2023

[ARCHIVED] Proposed 2024 Budget Details

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Timeline: The Village budgets on an annual basis. In May, the Village Board begins with review and adoption of the annual Long Range Financial Plan which includes large infrastructure projects that are paid for through bond proceeds. The operating and capital budgeting process begins in June - November.


Approval Process: The Budget & Finance Committee, comprised of three Village Board members, holds meetings to review the draft budget in September - October and provides a recommended budget to the Village Board. The conclusion of the budget process is the public hearing and adoption of the budget at the second meeting in November by the Village Board. Tax bills are generated in December using the levy amounts approved in the budget.

  

Village Board, Budget & Finance Committee meetings are open to the public. Meetings can be viewed here on the Village’s website. The Budget & Finance Committee and Village Board held meetings on the Draft 2024 Budget on the following dates: 


  • September 18, 2023 - Village Board Budget Overview
  • October 2, 2023 - Budget & Finance Committee detailed budget review
  • October 9, 2023 - Budget & Finance Committee detailed budget review and budget wrap up.
  • October 16, 2023 - Village Board provided remaining direction on the 2024 budget 
  • November 20, 2023 - Village Board will conduct a public hearing on the proposed 2024 budget, see meeting agenda.


Highlight of Proposed 2024 Budget: During the budget review process, the Board provided direction on items within the proposed 2024 budget, resulting in a 2% tax levy increase. These changes resulted in an estimated $48 tax bill increase for homes valued at $350,000. The modifications include funding allocations for key projects, such as Village Center HVAC Improvements, Milwaukee County’s Safe Streets for All, EAB tree removal, and Capital Budget reserves. These decisions signify a proactive approach to fiscal planning and strategic resource allocation. 

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