Barrington Hills Financial Position, Debt Up over $3.5 Million in One Year, Unfunded Police Pension Liability of $6.3 Million
The Cook County Treasurer’s Office has put online all sorts of financial information that was previouisly virtually impossible to a taxpayer to find.
Let’s look at the Home Rule municipality of Barrington Hills as an example.
Let’s look at the overall budget and liabilities for starters.
Debt for Barrington Hills is $21.7 million, up over $3 million in one year.
Next, let’s examine property tax revenues for the last ten years. They almost doubled.
Property tax collections rose from just under $2 million ten years ago to$3.8 million this tax year.
Finally, let’s take a look at pension liabilities. The fund for police is funded at 40% with a $6.3 million unfunded liability.
Pension liabilities increase
Why is no other village’s data given as comparison? T
his on its own gives the impression that no other village has debt, which I find hard to believe given the financial state of IL.
1Barrington Hills is the only municipality lying in Cook and McHenry Counties and this is McHenry County Blog.
Cook County Treasurer Maria Pappas gathered and published the data.
It does exist for the other tax districts lapping into McHenry County from Cook.
If the information were easily available for McHenry County, I would be more than happy to publish it.
2Think of the amount of tickets they’ll have to write to cover their grand canyon of municipal debt.
3We can thank current Pres Abboud for this; residents are looking forward to replacing him in the April election. Abboud’s administration has been a disaster.
4Bye, bye Bobby!
5To Cal Skinner: OK I understand, thanks.
Yes a comparison would be helpful.
It is a bit hard to make a judgment with sample size of 1.
I didn’t know this was easily available.
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