By Howard Packowitz and Heart of Illinois-ABC
NORMAL – Leaders in Normal said Monday night the town’s finances are heading in the right direction after setbacks last year, even as the local government grapples with funding pensions for first responders.
Local resident Craig Stimpert told the council Monday night that police and fire pensions are grossly underfunded at 55 and 61 percent, and he said the council continues to choose funding pension obligations through property taxes.
Town staffers reported over two percent growth in sales tax and property tax revenue. Mayor Chris Koos told our news partner Heart of Illinois ABC that the overall ‘positive’ rated outlook gives the council an advantage heading into budget decisions for 2020.
“We’re a little better than we were last year, which is always a good sign. We do have some issues that are not positive. Things like utility tax continues to lag, workforce in the community has dropped a little bit. So those are some negative impacts we have,” said Koos.
The mayor is referring to the town’s annual financial trends and conditions report. Town staffers look at 34 indicators to measure the community’s economic health, with 21 of them receiving a positive rating, compared to 20 last year. Seven of the indicators received negative ratings, compared to eight last year.
The council also viewed new renderings of the ‘Fiala Brothers Brew Pub’ set to open next door to D.P. Dough in Uptown Normal.
Council members have already agreed to provide up to $150,000 in sales and food and beverage taxes over 10 years to help developers working on the project.
Howard Packowitz can be reached at [email protected]
