Re: structural deficits
Abu-Taleb: Village expenses exceeded revenue seven of last 11 years. General and enterprise funds — environmental services, parking, sewer, water — are short $94 million. Answers about this are to be sought from the board. Wait too long before fixing this, you risk acting in panic later on.
Hedges: Not structural. Finances are in “very good condition.” Ill. Municipal Retirement Fund (IMRF), a non-state fund, is fully funded. Police and fire funds, 59% — comparable to other such (state-based) funds in Illinois (a state in deep financial trouble). OP has to 2045, the state tells us. (Before funds run out of money, presumably.) Debt situation — also similar to communities our size among inner suburbs. (As goes Cook County, also in deep trouble, so goes OP?)
Re: Two most important issues
Hedges: Economic development, Eisenhower x-way expansion another. As for the latter, the Ill. Dept…
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