MWRD Board Passes $1.15 Billion 2020 Budget - Includes 1.4% Increase in Tax Levy

Metropolitan Water Reclamation District (MWRD) Board - Special Meeting
December 12, 2019

In 30 minutes, the Board passed the 2020 Budget which reflected additional changes to the Tentative Budget from November 7.  The vote was 8 to 0, with Commissioner McGowan being absent.  Following are some highlights:

• The total budget is 5.7% ($70 million) less than that for 2019, and reflects a decrease of 14 positions.
• The total property tax levy is $652.6 million, up $9.3 million from 2019, a 1.4% increase.
• $20 million, the accumulated investment income, is proposed to be transferred to the Retirement Fund to maintain growth in the Retirement Fund’s funded ratio.  To make this transfer, a 2/3 vote will be required after March 1.
• The District will utilize the one-time revenue from Chicago’s declaration of a TIF surplus for a one-time expenditure of a $10 million upgrade to the Enterprise Resource Planning System. 
• In addition, $5 million will be reserved and might be used to fund an additional payment to the Retirement Fund if statutory authority is received.

Further changes to the 2020 budget may be considered at the regular Board meeting on December 19, at which time the budget will be finalized.

Observer - Priscilla Mims