In an effort to be proactive, the Lombard Village Board approved a Long Range Plan in 2016 with strategies to address the rising costs of non-discretionary (required) expenses and to focus on core services. The strategy approved in the Long Range Plan recommends that the Village match dollar for dollar (50/50) revenue increases (income) and expenditure reductions (spending), in order to maintain a balanced General Fund operating budget.
The FY19 budget is based upon projected revenue from taxes and fees. The Village has made cumulative budget reductions of over $3.8 million since 2017. For 2019, $753,933 in reductions were made to various services and programs, and the restructuring of some Village positions.
In 2015, the Village was on the path to having a budget deficit of more than $3 million by 2019. Due to the Village’s ongoing focus on fiscal responsibility, the Village’s 2019 budget is balanced. The Village Board remains committed to providing its residents with excellent core services and a balanced budget.
Moving forward, the Village will continue to face budget challenges head on and will remain focused on providing residents with a balanced budget while maintaining excellent core services.