March 2001

This is a histogram which depicts Tower Lakes’ financial history of the last 12 years or so. It compares tax and other revenues to spending.

Obviously there are several spending "peaks" which stand out. The first, in 1995 reflects the one-time expense of purchasing the village hall. The second, last year reflects the high cost of paving most of the roads in the village.

Receipts for 2001 are estimated.

Charts like this one are being used to help predict our receipts (income) and disbursements (expenses) for the following year – in the drafting of our budget. It is difficult to predict our receipts since they are largely a function of state income tax – we receive money back from the state based on our population, not the taxes our village residents have paid. So if the state suffers a slower economy, our receipts will be certainly effected – regardless of our resident’s income status.

The following pie chart depicts our receipts for fiscal year 2000 (income from April 30, 1999 to April 30, 2000)

While these proportions might change somewhat from year to year, this is a good indication of our revenue sources.