2007-021b 4 ` 0
ORDINANCE NO. 2007- 21
AN ORDINANCE ESTABLISHING THE FISCAL YEAR FOR
THE VILLAGE OF BUFFALO GROVE
WHEREAS, the Village's current fiscal year begins May 1St of each year and ends April 30th of the
following year; and
WHEREAS, having a fiscal year that does not follow the calendar year is challenging in terms of the timing
of the property tax levy and presentation of the operating budget
WHEREAS, changing the Village's fiscal year to coincide with the calendar year will allow for easier
reconciliation of calendar functions including payroll, self insurance plans, and will simplify budgeting for complete
construction seasons
WHEREAS, having a Village fiscal year that runs concurrent with the fiscal years of the Arboretum and
Buffalo Grove Golf Clubs will reduce the redundancy and cost of the Village annual audit
NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE
VILLAGE OF BUFFALO GROVE, COOK AND LAKE COUNTIES, ILLINOIS as follows:
SECTION 1. That pursuant to the authority granted in Chapter 65, Illinois Compiled Statutes, Section 511-
1-2(5) the fiscal year for the Village of Buffalo Grove is hereby changed to a calendar year basis from January 1St to
December 31St
SECTION 2. This ordinance shall be effective December 31, 2007
SECTION 3. Except as set forth above, this ordinance shall be in full force and effect from and after its
passage, approval and publication as provided by law. This ordinance shall not be codified.
AYES:
4 — Braiman Glover Kahn Trilling
NAYES:
0 - None
ABSENT:
2 — Berman Rubin
ADOPTED:
April 23, 2007
APPROVED:
April 23 2007
PUBLISHED:
. April 24 12007
Village President
ATTEST:
Villa Jerk