By Adam Studzinski
NORMAL – The budget approved by the Normal Town Council Monday night includes $120 million in expenses, but just $104 million in revenue. However, City Manager Mark Peterson said that doesn’t mean it’s an unbalanced budget.
Peterson explained the town has been saving for various projects and is now spending some of that extra cash.
“Let’s say you make $20,000 a year and over five years you’ve been saving up for a new car,” said Peterson. “So you spend $20,000 on this new car when it looks like you spent your whole salary on a new car. Well, no, you’ve been saving up for a period of years.
“This is a balanced budget. We’re required by State of Illinois to be a balanced budget, but that doesn’t mean we can’t save up for projects and then spend them.”
Peterson added the town almost always comes in under budget for expenses.
Also Monday night, the town approved a new four year contract with Normal’s police union.
Adam Studzinski can be reached at adam.studzinski@cumulus.com.
