Menomonee Falls on its way to self-sufficiency
August 6, 2013 by Mark
At a board meeting on Monday Reilly, Penner & Penton accountant Tom Wieland disclosed that Menomonee Falls had funds to spare as stated in the annual financial report for 2012.
Due to lower fuel costs and lay-offs, Menomonee Falls managed to save over $500K, according to the report. Gradually downsizing became a part of the village’s solution to Wisconsin’s limits on revenue. However, it did not hinder local government services and it is estimated that another downsizing will not occur anytime soon.
Summing up the report, Weiland simply said:
“The village is in very good shape financially.”
According to Mark Fitzgerald, the Village Manager, by combining departments, enacting cross-management, and renovating the entire system, the village had nearly a million-dollar surplus without its services suffering as a result. Half of it will go toward public works in hopes that Menomonee Falls can fund its own projects by 2020.
This is not the first investment for the Menomonee Falls’ goal for internal funding. This year, the village took $4m in funds to finance development and public projects so it would not have an outstanding debt. Government officials anticipate that this fund will help the village reach $22m by 2029.
To demonstrate financial reports to a large group, financial professionals often use large posters with their data in the form of a graph. A printing company that can offer poster printing services and recommend eye-catching colors would usually be the first port of call for such a project.