By Howard Packowitz

NORMAL – A yearly report examining financial trends in the Town of Normal reveals some warning signs.

The report presented to the town council Tuesday night looks at 34 indicators, with 20 of them receiving positive ratings and eight receiving negative marks, about the same as the two previous years.

Taxable land values rose just 0.7 percent last year, compared to a 3.1 percent increase a year earlier.

The data showed McLean County’s workforce dropped 1.8 percent, a sharper decline than the previous year.

Construction permits tumbled 13.4 percent as homeowners take a “wait-and-see” approach to the local economy before making any investments, according to town staffers.

Residents here proved again that they like to eat out as food and beverage jumped almost 6.9 percent for the fiscal year ending last spring.

Airport usage is down sharply, declining by almost 12.4 percent last year due to dramatic reduction in business travel.

Finance Director Andrew Huhn said he does not want to leave the impression that the town is in financial trouble.

“We have a very strong position going into the budget year. We had to get through some pretty difficult times, which we managed through our budget process and through the council reacting to things,” said Huhn.

“We ended the year with a deficit, but we knew it was going to be a deficit. We dealt with it as part of the budget process and it came back better than expected, which is nice to see,” Huhn also said.

Huhn said the town’s pension obligations for police and firefighters will continue to be a problem. Soaring pension costs caused the town council to raise property taxes last year.

Mayor Chris Koos said there is economic growth in town, and the community stands to benefit down the road from hiring at Rivian Automotive and Brandt Industries.

Howard Packowitz can be reached at [email protected]