Mayor Steven Landek recently announced that Bridgeview ended the 2023 budget year with a surplus. “It is always great news to share with the residents and taxpayers that our expenses were less than revenues. 2023 marks the 6th year in a row that we have concluded our fiscal year with either a break-even balance or a having a cash surplus,” said Mayor Landek.
Preliminary reports show that monthly bills, pension payments, and bond payments are all paid up-to-date and on time, with nothing late or due. All projects for municipal upgrades, from water line replacement, water tank upgrades, fencing, vehicle purchases, and our street program are budgeted for and can be paid for without borrowing any money.
The recession of 2008 was tough on our state and our community. We have made significant changes to prepare for the next economic downturn without having to do any borrowing. The most important feature has been to set a goal to create a “rainy day fund.”
Over the past 7 years we have tightened expenses and made the hard choices to cut the budget. That means we live within our means and use cash to pay our bills.
This tough stance has produced great results, and the “rainy day fund” of several million dollars is now generating investment income for our community.
Mayor Landek added that, “Bridgeview is on the path to maintaining a strong financial position in 2024. Looking forward to 2030, in the next 6 years a large portion of debt will be paid while holding the line on property taxes and delivering the great service Bridgeview is known for!”