Will County budget proposal allows for $2 million revenue loss from state
Will County Executive Larry Walsh has presented a 2018 budget proposal that will help combat an anticipated loss of $2.4 million in revenue due to the new state budget, the county website reported recently.
The budget Walsh introduced at the Will County Board meeting on Sept. 21 gives the county $551 million to spend and includes a property tax rate that is potentially 1.5 percent lower than last year. He set the corporate fund for government operations at $197 million and the special fund at $354 million.
“I am proud this year’s budget meets all of our debt obligations, contributes additional dollars towards our Other Post-Employment Benefits fund, and dedicates funding for Illinois Municipal Retirement Fund accelerated payments,” Walsh said, according to the website. “Will County continues to be fiscally responsible with our taxpayer dollars and ensuring we are providing the highest quality services while also maintaining a strong cash reserve in our corporate budget.”
Walsh's budget will now be reviewed by the board.