Category: Fiscally Speaking

Maywood, You Need To Get Serious About Spending Taxpayers’ Money

Wednesday, December 13, 2017 || By Michael Romain || OPINION || @maywoodnews 

Featured image: A screenshot of a page from a typical Maywood budget document. Compare Maywood’s budget presentation to nearby towns like Oak Park and River Forest. 

The Dec. 5 public hearing on Maywood’s 2017 tax levy, where village officials heard just a fraction of the collective heartache felt by residents, just reinforces the need for the village to inject long-term strategy, values, goals and expectations into the budget-making process.

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Maywood Likely to Approve 3% Levy Amid Residents’ Complaints

Saturday, December 9, 2017 || By Michael Romain || @maywoodnews 

During a contentious Dec. 5 public hearing on Maywood’s 2017 tax levy, around a half dozen village residents berated the Board of Trustees for proposing to increase the village’s annual budget by 3 percent over last year’s level. The board is expected to authorize the new levy at a regular meeting on Dec. 19.

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Tax Levy Public Hearing and Regular Maywood Board Meeting Tonight, Dec. 5

Tuesday, December 5, 2017 || By Community Editor || @maywoodnews 

A public hearing on the 2017 village of Maywood tax levy, in addition to a regular meeting of the Maywood Board of Trustees, is scheduled for today, Tuesday, Dec. 5, 7 p.m., at Village Council Chambers, 125 S. 5th Ave. in Maywood.

Continue reading “Tax Levy Public Hearing and Regular Maywood Board Meeting Tonight, Dec. 5”

Maywood Board Looking to Approve 3% Property Tax Levy

Friday, November 24, 2017 || By Michael Romain || @maywoodnews 

During a Nov. 21 regular meeting, the Maywood Board of Trustees voted unanimously for a resolution approving an estimated property tax levy of $19,470,830, which is the money that the village raises from property taxes in order to fund necessary government services.

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County Must Make Up for $200M Budget Hole, Says Commissioner

Monday, November 13, 2017 || By Igor Studenkov || @maywoodnews 

Featured image: A chart breaking down the county’s FY 2018 operating budget by office, released by the office of Cook County Board President Toni Preckwinkle. | Cook County 

During a Nov. 7 town hall he organized in Chicago, Cook County Commissioner Richard Boykin (1st), whose district includes all or parts of Bellwood, Broadview and Maywood, presented an outline of the county’s budget.

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MB Financial Replaces Seaway Bank As Maywood’s Largest Account Holder

Seaway Bank

Thursday, July 27, 2017 || By Michael Romain || @maywoodnews

MB Financial has replaced the defunct Seaway Bank & Trust as Maywood’s largest account holder. During a regular meeting on July 18, the Maywood Board of Trustees voted on a resolution designating MB Financial a public depository for the village.

Less than two years ago, according to village records, Maywood was parking funds from at least nine different accounts at Seaway, including the corporate, water, motor fuel and general fund and payroll accounts. On Nov. 29, 2015, the total ending balance of village funds at Seaway was over $2.5 million. At the time, MB Financial was not an authorized public depository for the village.

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Area Lawmakers React to Illinois Budget Plan | Sugary Beverage Tax Put on Hold

Springfield

Thursday, July 6, 2017 || By Michael Romain || @maywoodnews

The Illinois House voted 71 to 42 on July 6 to override Gov. Bruce Rauner’s veto of a revenue bill “that will hike the personal income tax rate — while also voting to override two other budget bills,” the Chicago Sun-Times reported on Thursday.

For the first time in two years, Illinois has a full budget in place after after a two-year impasse, “the longest such impasse for any state in modern history,” according to a July 6 New York Times report.

“The decision to approve the budget, which includes an income tax increase expected to generate about $5 billion, came as Illinois was sinking deeper into fiscal misery,” the Times reports.

“The state is $15 billion behind in paying its bills; has delayed or stopped payments that have especially affected the elderly, poor and students; and has been warned that its credit rating could sink to junk status, the lowest for any state.”

In the run-up to, and after, the historic vote, local state lawmakers were vocal in their support of the measure.

After the State Senate voted to override Rauner’s veto earlier this week, state Sen. Kimberly Lightford (4th), (whose district includes Bellwood, Broadview and Maywood, along with other western suburbs and parts of Chicago), said that the plan “would give our neediest populations and decimated institutions a fighting chance.

“Families, our most vulnerable populations and businesses alike need consistency,” Lightford stated. “It is time for Governor Rauner to set aside his political antics once and for all and do what he was elected to do, enact a budget.”

State Rep. Emanuel “Chris” Welch (7th), whose district includes much of Proviso Township, praised the plan.

“The plan cuts state spending by nearly $3 billion, while protecting our seniors, supporting our most vulnerable citizens, revitalizing our violence prevention programs and funding our schools, colleges and universities,” he said.

In a July 6 Facebook post, uploaded as the House debated the governor’s vetoes, state Rep. Kathleen Willis (77th), (whose district includes all or parts of Bellwood, Maywood and Melrose Park), said that although the measure isn’t perfect, “we must do something. As one of my colleagues said last week the state hemoraging. This is a way to stop bleeding out. My view is that you must stop the bleeding before you can repair the damage.”

Sugary beverage tax blocked as budget cuts loom, says Preckwinkle

Soft_drink_shelf_2The cost of sugary beverages sold in Cook County were set to go up one penny per ounce this summer, but a Cook County Circuit Court judge blocked the inevitable from happening.

Now, Cook County Board President Toni Preckwinkle is warning that if the judge keeps the tax from taking effect by August, the county would have to cut 10 percent of its budget.

Per the Chicago Tribune, “In a letter dated Monday sent to all county elected officials, bureau chiefs and department heads, Preckwinkle budget director Tanya Anthony said analysts would be providing them ‘a recommended course of action’ to meet spending cuts needed if Cook County Circuit Judge Daniel Kubasiak doesn’t lift a temporary restraining order that’s preventing the penny-per-ounce tax from being levied.

“Kubasiak stopped the tax, which was supposed to go into effect Saturday, after the Illinois Retail Merchants Association and several grocers sued the county to permanently block it on the grounds it is vague and unconstitutional.

“The county was counting on $67.5 million to be collected through Nov. 30 via the tax on pop and other drinks.”

Read the full Chicago Tribune article here. VFP

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