VILLAGE OF BUFFALO GROVE, ILLINOIS Management’s Discussion and Analysis (Unaudited) December 31, 2020 General Fund Budgetary Highlights For the Fiscal Year Ended December 31, 2020 (in thousands) Final Budget
Revenues and Transfers: Taxes Fines and Fees Licenses and permits Other Revenues Transfers in Total Revenues and Transfers
$
Expenditures and Transfers Expenditures Transfers Out Total expenditures and Transfers Change in fund balance
Actual
36,217 2,570 240 2,005 2,008 43,040
40,221 3,084 301 2,885 2,008 48,499
44,727 3,340 48,067
42,670 3,209 45,879
(5,027)
2,620
Revenue (taxes) performed better than expected due to stronger than anticipated sales and income tax revenue. Actual expenditures performed better than budget due to the reduction in spending efforts as a result of the Covid-19 environment. Capital Assets At the end of December 31, 2020, the Village had a combined total capital assets of $116.1 million invested in a broad range of capital assets including, buildings, streets, storm sewers, and equipment. This amount represents a net increase (including additions and deductions) of $10.1 million.
23
