County Executive Larry Walsh presented his 2017 budget proposal to the Will County Board last week, saying the $570 million spending plan is balanced and includes a reduction in the 2016 levy rate.
During the board’s Sept. 15 meeting, Walsh said his proposal recommends including new property in this year’s budget in order to provide a “stable financial base to fund county operations.” Including revenue from new property would add an additional $1.5 million in revenue to the 2017 budget, according to the county executive’s office.
“As our economy remains slow, it is important we examine every alternative to avoid raising property taxes for our residents,” Walsh said.
Will County’s corporate fund, which pays for general government operations, would be set at $197 million, according to the 2017 proposal. The remaining $373 million would be allocated to special funds, which are restricted for specific purposes.
Walsh’s office said the proposed budget does not use of any of the county cash reserves to balance the spending plan. Overall revenue is expected to remain relatively flat, with minor increases in sales tax collections.
Will County board members will review the draft budget. The new fiscal year begins Dec. 1.