Financial Information

Budget
The City of Red Bud operates under the Annual Appropriation Ordinance and our fiscal year begins May 1 of each year and ends April 30 for all funds.

PUBLIC ACT 97-0609
Public Act 97-0609 requires all IMRF employers post, within 6 days of the approval of a budget, the total compensation package for each employee having a total compensation package that exceeds $75,000 per year.
"Total compensation package" for purposes of the Act means "payment by the employer to the employee for salary, health insurance, a housing allowance, a vehicle allowance, a clothing allowance, bonuses, loans, vacation days granted, sick days granted."
Note: This information is subject to change.

PUBLIC ACT 101-0504
Public Act 101-0504 requires all IMRF employers with a website post a link to the IMRF "Employer Cost & Participant Information" on their websites.

ANNUAL FINANCIAL REPORT
An audited Annual Financial Report is issued each fiscal year. The City’s fiscal year runs May 1 through April 30th.

ANNUAL TREASURER'S REPORT
The Treasurer’s Report is required by law to be published once a year in a newspaper of local circulation. The report summarizes financial condition and revenues, and lists expenditures made by the City for services, commodities, wages, equipment, and supplies during the fiscal year. It is a snapshot in time and caution should be used when trying to compare year to year. Often expenditures do not fall neatly and evenly into fiscal years. Oftentimes retirement payouts required by law of accumulated vacation or sick time inflate gross wage numbers. A more sophisticated and informed review of the detail the report is based on is required to make meaningful comparisons.