By Tracy Ouellette
The East Troy Village Board approved the 2023 budget at Monday night’s meeting. In the budget presentation to the board, Village Administrator Eileen Suhm outlined next year’s budget.
She told the board there were some unknown variables at this time, mostly related to insurance premiums. In a memo to the board, Suhm listed these unknowns:
• Liability insurance: General Property, Automobile, and Liability insurance policies renew on Feb. 1. Staff is reviewing new options including the League of Wisconsin Municipalities Mutual Insurance. Potential to be Under Budget by $17,000.
• Health insurance: Budget assumed a 10% increase in premiums. Our current carrier (Anthem) came back with an approximate 14% increase (2021 was 8.9% and 2022 was 6.03%). United Health Care quoted a 29% increase and WPS a 25% increase. Estimated amount over budget (is) $5,500.
• General Fund contingency expense: Will reallocate this to general and other appropriate funds once the Board reviews and provides final direction on the market update of the salary structure. Net changes will depend on direction from board.
Total revenues for the village increased 6.15% over 2022, from $2.9 million to $3.1 million.
The general fund revenues are largely supported by property taxes, Suhm told the board with $1.7 million in general property taxes revenue, followed by intergovernmental revenues at $640,000, public charges for services at $347,000, other taxes at $173,000, licenses and permits at $94,000, fines, forfeitures and penalties at $79,000, intergovernmental charges for services at $7,800, and miscellaneous revenues at $55,000.
The village spends the majority of its operational expenses on wages (41.1%) and benefits (17.4%). The operating budget accounts for 46.1% of the village’s expenses, which are $3.1 million for 2023.
Breaking down the expenses for 2023, the village has budgeted $1.5 million for public safety, $845,000 for general government, $365,000 for public works, $248,00 for health and human services, $124,000 for recreation and education, and $35,000 for conservation and development.
Village’s net new construction is lagging behind Walworth County, Suhm told the board, adding she expected that to increase next year with the increase in new construction in the village.
The net new construction in the village increase from .445% in 2021 to .735% in 2022. The 2023 tax levy is $2.3 million up from $2.2 million in 2023.
The mill rate on assessed value for 2022 has dropped 15 cents from $6.11 in 2021 to $5.96 in 2022.
