Series: Kronenwetter Faces Difficult Decisions in 2025 Budget – Part 2. At least $2,503,721 of the listed $3,426,215 Total General Fund Balance doesn’t actually currently exist.
NOTE: Numbers in parenthesis are negative numbers: i.e. (2,503,721) is a negative 2,503,721.
Of the $3,426,215 stated total General Fund Balance, $2,663,339 is “Nonspendable”, because most of the funds have actually already been spent and don’t currently exist.
The General Fund advanced $2,551,634 to TID #1 in 2021 to meet TID #1 obligations. These funds were spent and are not currently available. They will probably not be available for a number of years into the future.
PLEASE NOTE: The underlying financial transactions were made before our current Finance Director was hired.
In addition, I do not mean to imply that there was anything improper regarding the transfer to TID #1 to meet the Village’s obligations. However, I don’t think it is clear to most of the Village Trustees and Residents that we don’t actually currently have anything like $3.4 million available in the General Fund.
Next up in Series: Kronenwetter Faces Difficult Decisions in 2025 Budget – Part 3: The Village has been spending more funds than it has been receiving.
This post is the opinion of David Baker.