INSIDE
NEWS Rep. Lipinski talks jobs in Lockport
SPORTS Joliet West beats Lockport Page 11
www.jolietbugle.com
Page 2
Our Village, Our News
FEBRUARY 29, 2012
Vol. 4 No. 26
JOLIET SEES A
SURPLUS? City finances fare better than expected in 2011 By Sherri Dauskurdas Staff Reporter
Joliet city officials recently finalized the year’s finances to the tune of a $3.6 million surplus in the city’s operating fund, despite earlier projections that the coffers would be empty. But what’s being seen by some as a positive change in Joliet finances is also causing frustration among some city residents, who see something fishy in a plan that hikes taxes, only to bask in the glow of a multimillion dollar cushion by year’s end. But officials charge that a host of variable checks and balances affected the outcome,
from a mild winter that cost the city less in maintenance, repair and service, to less than anticipated medical costs. Ken Mihelich from the city’s office of management and budget, said the State of Illinois, which had been delinquent in its payment of income tax funds, finally came through on Dec. 29 with about $780,000. Additionally, Medicare reimbursements of $500,000 and positive real estate transactions of about $400,000 helped account for gains in revenue. On the side of expenses, $350,000 was saved through job attrition.The city, which is self-insured, saw just a 2.3 percent increase in hospitalization costs in 2011, coupled with lower than expected worker’s compensation payouts by about $1.3 million. “Some things we expected to settle in 2011 didn’t settle until 2012,” he said. See SURPLUS, page 23