BRADLEY — At a special Bradley Village Board meeting on Thursday, trustees unanimously approved the $27.5 million budget, of which $19.4 million is contained in the general fund.
By a 6-0 vote, the board approved the budget during the brief meeting.
The general fund is basically the portion of the budget which contains the fund day-to-day funds for the operation of the village government. The fund includes the revenues and expenses for the various village departments such as police, fire, public works, planning and zoning, and other such departments.
This year’s budget contains a revenue-over-expense surplus of about $4 million. The budget includes the promised $1.1 million property tax rebate to village property owners for the voter-approved 1-percentage-point increase to the village’s sales tax rate.
The increased sales tax rate is expected to generate $4.6 million in Fiscal Year 2022.