Village Voice - May 2015

Dear Neighbors:

In Governor Rauner’s February 18th Budget Address to the Illinois General Assembly the Governor proposed to cut the Local Government Distributive Fund (LGDF) by 50%. LGDF is a state fund into which a portion of state income tax revenue is deposited annually. Cities, village and counties currently receive 8% of total state tax revenue through this fund. A 50% reduction in LGDF would cost the Village of Ringwood $41,382 annually. McHenry County municipalities and county would see a nearly $14 million dollar loss in LGDF revenue (See attached loss of revenue chart on page 2).