2010 Village of Riverside - Annual report
Notable financial statements:
Expenditures continue to grow faster than revenues. At current levels, expenditures will be $1 million higher than revenues per year beginning in 2013.
With
With each year?s budget deficit, reserves available for continued operations also declines. Cash flow and Unassigned fund balance will fall below the Village?s policy level of 25% in 2013.
Less than fifteen cents of every property tax dollar paid by Riverside residents is used to fund Village services, including public safety, park maintenance, recreation, and daily street maintenance.
I wonder when we will see a tax referendum? I'd guess some time after after the next property assessments results become public.
This is the round of property assessments that *should* implement the real estate market value corrections (and therefore lower property taxes and lower revenue to the village).
Anyone know how the "Cook county correction factor" will play into this? Or the 7% expanded homeowner exemption expiring?
I'd presume that somehow our property taxes will not go down :(