Updated Surplus Numbers

Updated Surplus Numbers
Updated Surplus Numbers: Actual surplus 2018 per audit was $85,163.
Boards 2011-2018 implemented policies and procedures with specific goals:
stabilize owner fees, achieve maintenance objectives and achieve annual budget surpluses.
Any surplus was retained by the association.
The board elected in fall 2018 decided to increase owner fees, even in view of a large potential surplus

Average fees prior to 2019

Average fees prior to 2019
Average fees per owner prior to 2019:
RED indicates the consequences had boards continued the fee policies prior to 2010,
BLUE indicates actual fees. These moderated when better policies and financial controls were put in place by boards

Better budgeting could have resulted in lower fees

Better budgeting could have resulted in lower fees
Better budgeting could have resulted in lower fees:
RED line = actual fees enacted by boards,
BLUE line = alternate, fees, ultimately lower with same association income lower had
boards used better financial controls and focused on long term fee stability

Wednesday, March 15, 2017

Revenue through Vehicle Stickers - Glen Ellyn






In recent blog posts I've pointed out the financial distress that the Illinois State budgets have caused for communities.

One issue faced by Wheaton is where to come up with the funds necessary to support the many programs of the city, and that includes pension obligations.

Nearby Glen Ellyn has a vehicle sticker program. These are purchased annually by residents. Wheaton does not currently have such a program, but at one time it did.

It has been reported that Glen Ellyn "Residents are required to purchase stickers for every car registered to an address in the village. The stickers are $25. Seniors can purchase one sticker per household at $8, and there is a discount for buying three years of stickers at one time. Citations for not having a sticker cost $50." According to some in the village, this is an unpopular program. The Village of Glen Ellyn has created a survey on vehicle stickers, and they are asking for residents to give their opinions.  The survey is available online, but I was surprised to see that there is no requirement for a name, address or phone number. In other words, a lot of other people from all over could be responding to the survey, the information for which was published in an online nearby newspaper.

Here is some highlights from the October 14, 2016 Glen Ellyn Finance Commission meeting in which the village's vehicle sticker program was discussed. :

"Vehicle stickers are required for all residents of Glen Ellyn. This process is managed in-house and has been very time consuming over the years but has generated nearly $400,000 in revenues. There are pros and cons to this program. Pros included the $400,000 in revenues, a diversified revenue stream for the General Fund, and identification of vehicles for police. The con is that this program is very labor intensive and unpopular with many residents. Village costs are $6,200-$8,600 per year for maintenance of this program."

Here are some additional comments of the village Finance Chairman and Commissioners about this :

  1. [The] program cannot be eliminated without making up the $400,000 elsewhere. 
  2. [An alternate could be ] to increase the cost of commuter parking but.....that revenue goes to the Parking Fund and not the General Fund. 
  3. [The Chairman] added that he does not like the option of boosting property tax to make up the cost of a user fee. 
  4. [If this program were eliminated it was stated that] there is not a lot of labor savings but maintaining the database is highly burdensome. 
  5. [In other] local community behavior with respect to village stickers and it was noted that those who do not have the program have a food & beverage tax, something Glen Ellyn does not have. 
  6. It was added that if food & beverage tax was imposed at ½ percent, it would make up the $400,000 lost from the vehicle sticker program if eliminated. [It was noted that to] increase Home Rule Sales Tax because you are getting both residents & non-residents. 
  7. The Home Rule Sales Tax would be a ¼ percent increase to make up the revenue lost from vehicle sticker program if eliminated. 



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