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The village will have a reserve balance of $6.7 million at the end of 2023. That balance will exceed 25 percent of the village's annual operating expenses, which is the percentage of reserve balance rating agencies require for municipalities to obtain a AAA bond rating. Hinsdale has maintained a AAA bond rating for many years. Only about 15 percent of Illinois municipalities carry a AAA bond rating. Hinsdale takes crime prevention and the apprehension of individuals who...
The village ends 2022 with a reserve balance of over $5 million, which represents 26 percent of the village's annual operating expenses. Given a predicted recession in 2023, the village's budget for 2023 is even more conservative than usual. The village continues to enjoy a AAA bond rating from Standard & Poor's, a distinction only 8 percent of Illinois municipalities can claim. Based on positive feedback, the village has formalized its outdoor dining program. The village...
The financial impact of the pandemic on Hinsdale lessened in 2021, with many revenue sources rebounding to pre-pandemic levels. We will end 2021 with a reserve balance of $6.7 million, which represents 37.2 percent of the village’s annual operating expenses. Because of the village’s financial strength, throughout the pandemic we were able to maintain the same level of first-rate police, fire and public works services that residents have come to expect. Moreover, the vil...
Next summer, the 319-space parking deck, adjacent to the new Hinsdale Middle School, will open. The parking deck should help solve parking problems that have plagued downtown Hinsdale for ages. The new parking deck should further energize our already thriving downtown. Currently - even before the new parking deck opens - we have one of Hinsdale's lowest retail vacancy rates at just 3.2 percent. The average vacancy rate in the Chicago area is above 10 percent. We have made...
