Through the use of Home Rule powers, East Dundee’s finances have gotten out of control. Over the past decade, spending and debt have both grown exponentially. Total East Dundee spending in 2007 was $3,961,411 and in 2017, it reached $12,187,614. That’s a 300% increase in expenditures while inflation only grew 18%. Likewise, village debt has reached a whopping $33 Million. Considering population has remained essentially stagnant, this is a gross misuse of hard-earned taxpayer dollars. What follows are my recommendations to set East Dundee’s finances back on track.
One of the most common narratives regarding the pension crisis in Illinois is that the state’s five pension systems are underfunded because politicians “skipped” pension payments. This narrative has prompted legislators to add to pension reform proposals a “funding guarantee” they say will prevent the pension crisis from repeating itself in the future.