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WINTER 2016

WINTER 2016

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YOUR DOLLARS

YOUR DOLLARS

In addition, the mayor and the village board are committed to

running an open and transparent form of government. What

does that mean for residents? It is a seamless system of checks

and balances where all information is readily available for

viewing either on the village website or, if you prefer, by visiting

village hall and simply asking.

“We’re allocating dollars to programs that will help ensure

a bright future for our community and we’re doing it without

deficit spending,” explained McLaughlin. “Orland Park

not only received a AA+ bond rating from Standard &

Poors, but also received national recognition for our fiscal

management, budgeting policies and financial reporting.”

Why is this recognition and rating important? Every

municipality from time to time must borrow dollars. Having

a solid bond and credit rating, as the village does, ensures

that if and when the village needs to borrow funds, we

pay less interest when paying it back. In return, saving

every homeowner hundreds of dollars. Since 2009, we

have saved approximately $6.3 million in future interest

costs by issuing refunding bonds. This reaffirms Orland

Park’s credibility in being fiscally responsible. Since 2005,

the village’s finance department has consistently received

the Government Finance Officers Association (GFOA)

Award for Excellence in Budget Reporting.

Every governmental entity incurs and carries debt. The

Village of Orland Park does as well. But the debt we carry

is fairly minimal by most standards. Orland Park’s General

Obligation (GO) and other long-term debt as of Dec.

31, 2015 was approx. $109 million, with an equalized

assessed value (EAV) of more than $1.95 billion. To put

the village’s debt situation into perspective, compare it to a

homeowner having a mortgage balance of approximately

$16,170 on a home with a market value of $400,000.

During the last Telephone Town Hall Meeting, a question

was posed to listeners. Most knew how much of their

property tax dollars went toward the village to fund

services, but some thought the amount was much higher.

So, how much of your property tax dollar goes to the

Village of Orland Park? The answer? Seven percent.

Only 7¢ on the dollar funds all of the many services you

receive from the Village of Orland Park.

In addition, part of the 7 percent is refunded via the

village’s Property Tax Rebate Program. Eligible residents

who submitted completed applications have received

refunds of a portion of their property tax dollars in 11 of

the last 14 years. The total amount rebated since 2002 is

$36.7 million, not considering the $2.2 million that was

approved for the current rebate checks to be mailed out in

March of 2017.

The annual rebate is possible due to the village’s

commitment to fiscal responsibility, doing more with less

and avoiding deficit spending.

“The village’s dedication to its residents, fiscal responsibility

and maintenance of 100 percent transparency and

accountability are something we take very seriously and

strive to maintain,” said McLaughlin.

Questions about village finances can be directed to

708/403-6100.

The problem with government spending is that eventually,

you run out of other people’s money. This is a concept

that few government leaders seem to understand. But at

Orland Park Village Hall, we never forget it.

“One of our most important responsibilities is being fiscally

responsible and accountable to every homeowner,” said

Mayor Dan McLaughlin.

“That means spending wisely, doing more with less and

being committed to living within the means taxpayers are

already providing. That is how we’ve been able to operate on

a balanced budget for each of the 23 years I’ve been mayor.

We’ve refunded more than $36 million in property taxes to

homeowners and provided more than $500 million in road,

street and infrastructure improvements with no additional costs

to taxpayers while maintaining a flat levy for six years.”

A BALANCED BUDGET

23 Years in a Row

“We’re allocating dollars

to programs that will help

insure a bright future for our

community and we’re doing

it without deficit spending.”

Mayor McLaughlin