What are Friends of MFDs conclusions about the information presented on the “Apples to Apples” spreadsheet?
Double Tax Increase around 2015. First, under Option A (keep MFD), the Village actually stays in the black through 2016, which is one year longer than under Option B (abolish MFD). Under either scenario, however, it is clear that the Village will be seeking a tax increase around the year 2015. Voters should be aware, that based on LMFR’s Resolution R9-08 (concerning the fire station), the LMFR may also be seeking a new tax levy around the same time, in 2015. b) “Robbing Peter to Pay Paul”. Also, the spreadsheet shows that the Village’s economic analysis of the two options is a case of “robbing Peter to pay Paul” in the sense that the Village is simply shifting a projected substantial deficit in the general fund ending balance, in Option A (keep MFD), to a substantial deficit in the permanent improvement fund ending balance, in Option B (abolish MFD). Look at the ending balance for each fund in the 2018 column. The Permanent Improvement Fund was passed to pay for streets and other capit
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- What are Friends of MFDs conclusions about the information presented on the "Apples to Apples" spreadsheet?
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