Dear Neighbors, C4CH wants to present facts related to the oddly high water prices in CH and the excessive cash buildup in the CH Water Fund:
$4.7M in cash in CH Water Fund (water fund balance 9/30/18) - the 3rd highest water rates in Chicagoland (ref. Chicago Tribune)
Cash vs. Bonds - Normally 20 year bonds would be used for capital projects to lower the water rate dramatically yet the Trustees chose oddly to rubber-stamp the Village Manager recommendation to increase water rates and increase cash build up instead of using bonds to lower the water rates.
C4CH also want to raise a few challenging questions for the staff and Trustees to consider; Our 1.8 square mile town is very small so why is there a rush to replace roads and pipelines well before the end of their useful life while also building up excess cash? Property values are negatively impacted by high water rates and high taxes so shouldn't the Trustees and Village Manager periodically have a critical review of their approach, especially when there are no water fund experts on the Board or staff? Should the Trustees and Village Manager bring a one year halt to lower the work load and lower the overall spending so a critical review and weighing of alternatives can be done while there is no panic or safety issue? Should there be a focus on a critical review of the high water rates by an outside expert or expert committee? Is the $4.7M in cash build up a sign that the water fund operation requires closer oversight by persons with financial and operational skill? Our village has many persons with these skills yet the Trustees do not appear to a background in these areas.
Please forward comments to the Village President Len Austin (firstname.lastname@example.org or at 630-286-5420). Or you may send your comments to C4CH and we will forward comments confidentially. A recent Freedom of Information Request (FOIA) revealed that the water fund in CH has amassed $4.7M in cash on hand as well as other financial details. ______________________________________________________
Fiscal Conservatives - if you are interested or have a recommended candidate for D86, D181 or the Village of Clarendon Hills, please email us back as we may be able to support your efforts. ______________________________________________________ Thank you for your support! Please sign up on our website and refer your friends and family. Visit C4CH Website
Respectfully, Your Neighbors - C4CH