Mark Horton, Village of Oswego Finance Director

Mark Horton, Village of Oswego Finance Director.

Finances were part of the discussion for the Oswego Village Board this week.

First quarter financial reports for the village of Oswego are in, and Finance Director Mark Horton is optimistic.

But he had this word of advice for the Oswego Village Board trustees.

Horton and his staff watch for trends.

Horton also talked about how his department monitors the budget.

When the budget is being prepared, Horton says each department head is asked for input.  He reminded trustees to submit requests before the upcoming budget priorities workshop October first.

Earlier information on the new state 19 cents gasoline tax indicated Oswego might receive an extra $900,000 from the state in motor fuel taxes, however, Horton says that figure looks to be a lot less, according to the Illinois Municipal League data. MFT funds help pay for road maintenance and possibly snow or ice removal, all subject to Illinois Department of Transportation, said Horton.

The village now is also able to contribute more to the police pension fund for officers’ retirement, which has a $32 million balance and is governed by state law.

Horton presented his and the village’s philosophy on revenue and expenditures.

Upcoming village board meetings will feature the annual audit and the preliminary local tax levy.