Village of Bannockburn Money at Work

Village of Bannockburn Money at Work

The Village President and Board of Trustees have many responsibilities. Chief among them are preserving the character of the Village, serving and protecting Village residents, and being good stewards of the Village resources.

With the President and Village Board, the Finance Department’s mission is to ensure the Village’s financial stability; maximize the use of its financial resources; and provide superior financial, accounting, treasury, and budgeting information and services, while maintaining the highest level of public trust. We are happy and excited to report another year of positive financial results.

In order to maintain the Village’s current strong financial position, the Village utilizes several strategic initiatives. Current initiatives focus on organizational and operational efficiency, financial sustainability of the community through liability management and spending controls, maintenance of a stable tax environment, rehabilitation of infrastructure, stimulation of appropriate new development, encouragement of responsible redevelopment, and innovation as a means to deliver the highest-value services at the lowest cost to our residents and commercial businesses.

The Village Board and staff have worked diligently to provide for a balanced tax structure and implemented initiatives which have resulted in a positive cash balance. Our pensions are properly funded, our infrastructure is current and our full cash reserves are in place. This success is not an accident. And the care taken to achieve this success yields occasional bonuses for us all as taxpayers.

On December 9, 2019, the Village Board was pleased to approve a tax abatement ordinance that will cut the Village portion of real estate tax bills by 32% for Village residents and businesses. Happy New Year!