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Mundelein Trustees Approve FY 2021 Budget
The Mundelein Board of Trustees recently approved the Fiscal Year 2021 $63.6 million budget, a $10.3 million or 14% decrease from the FY2020 budget of $73.9 million. The General Corporate Fund has budgeted revenues of $26.95 million and budgeted expenditures of $26.95 million, a 2% decrease from the prior year. Anticipated total revenue is $52 million. The Board approved a reduction in the Village property tax rate from $1.53 to $1.48 per $1,000 estimated assessed value (EAV).
The FY2021 Budget allocates $23 million for Village-wide capital improvement projects, including completion of the new public works and engineering facilities, $10 million downtown Western Slope subdivision flood mitigation improvements, Route 176 multi-use path, and nearly $5 million on street improvements. Funds are also budgeted for $75,000 to the Business Incentive Grant (BIG) program, and investment in a comprehensive “Think Mundelein First” campaign reminding people to shop and think local first. Mundelein’s water/sewer rates remain unchanged. The new fiscal year began May 1, 2020.
“The COVID-19 pandemic has dramatically impacted Mundelein’s budget and bottom line. The loss of tax revenue will make it very challenging for us to accomplish our goals, but we have a plan for a viable path forward. For this, I want to acknowledge the Trustees, Village Administrator John Lobaito and Chief Financial Officer Doug Haywood for the time and effort they invested into this year’s budgeting process. I am pleased with the budget we’ve approved and I’m looking forward to a productive year in terms of infrastructure improvements and economic development,” said Steve Lentz, Mayor.
To view the budget please visit the Village's Budget Page.