The Algonquin Village Board’s Finance Committee on Thursday night recommended that the Village Board approve a $6.7 million budget for fiscal 1999, a 4.2 percent increase from last year’s level.
Village Administrator William Ganek said the village has experienced a growth in revenue as a result of an aggressive pursuit of grants, which make up 6 percent of the budget, and an increase in population, which allows the village to collect a larger share of state tax revenues.
He said sales taxes, which amount to 20 percent of the new budget, are projected to decrease slightly, reflecting an increase in retail establishments in neighboring communities.
Revenue from building permits is projected to be $375,000, which would be down from the current year. Ganek said this reflects a slowdown in the pace of residential development.
Police Department expenses are expected to rise by 13 percent.
A public hearing on the budget will be held Tuesday at 7:30 p.m. in Village Hall.
