Finances

Levy
The authority of the Township to raise money through a levy on taxable property within the Township is found in the Illinois Statutes at 60 ILCS 1/80-40.  Property taxes are a significant source of revenue for the Township. In 1995 the Illinois Legislature limited the Township’s ability to levy property taxes by passing the Property Tax Extension Limitation Act (PTELA). PTELA limits the increase in property tax that the Township may levy to 5% or the percentage increase in the Consumer Price Index during the 12 month calendar year preceding the levy year, whichever is less.  The Township submits its levy request to the Cook County Clerk each year in December.  The most recent levy for the Township was adopted in 2016 and funds the current fiscal year (FY 18). 

2016 Levy

Budget
Each spring the Township adopts a financial plan which details the planned expenses and revenues for the upcoming fiscal year.  The Township’s Fiscal Year 2017 budget received its fourteenth Distinguished Budget Presentation Award from the Government Finance Officers Association (GFOA).  The GFOA is the professional association of government finance officers in the United States and Canada that sets standards for local government practices.  Submissions for the award are evaluated on whether the budget is an effective policy document, financial plan, operations manual, and communications guide.  It is the highest form of recognition in governmental budgeting and represents a significant achievement by the Township.  The Township will submit its Fiscal Year 2018 budget for this award with the GFOA.

2018 Budget

Township 2018 Final Budget Fiscal Year

2017 Budget
Township Budget
Introduction
Budget Overview
Town Fund - General Government
Town Fund -  Senior Services
Town Fund - Youth Services
Town Fund - Capital Outlay
General Assistance
Community Mental Health
Financial and Accounting Policies
Supplemental Data
Five Year Projections
Glossary of Terms

2016 Budget
Introduction
Budget Overview
Town Fund - General Government
Town Fund - Senior Services
Town Fund - Youth Services
Town Fund - Capital Outlay
General Assistance
Community Mental Health
Financial and Accounting Policies
Supplemental Data
Five Year Projections
Glossary of Terms

Annual Financial Report
The Township has an audit completed each year in compliance with state statutes in order to confirm that the Township has adhered to general accepted accounting principles and to compare actual results to the budget.  The Township received its ninth Certificate of Achievement for Excellence in Financial Reporting for its Comprehensive Annual Financial Report (CAFR) for the year ending March 31, 2015. 

2016 CAFR
2015 CAFR

Salaries and Compensation

In 2011, the Illinois Legislature passed Illinois Statute 97-0609, to be effective January 1, 2012, which amended the Illinois Open Meetings Act.  This legislation requires that all IMRF employers post the total compensation package for employees whose compensation package exceeds $75,000 per year, within six (6) business days of the approval of its budget.  To comply with this legislation and to be fully transparent, the Township Board has elected to post the salaries along with other benefits such as IMRF and health insurance for all budgeted positions, including elected officials, on the Township website. 

Employee Pay and Fringe Benefits FY 2018

Employee Annual Leave Allotment FY 2018

 

If you have any questions or would like more information on the Township's finances, please contact Finance Director Jack Norton by email or by phone at 708.383.8005.

Contact

General Information:
708.383.8005

Youth Services:
708.445.2727

Senior Services:
708.383.8060

Fax:
708.383.8062

Email the Township

Township Services printable PDF

Contact us using our online form

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