Moweaqua, IL (WAND) -The Village of Moweaqua is trying to claw out of debt after learning the budget is in the red. Acting mayor Angela Locke is working with the finance committee to balance the budget.

To afford payroll, the village has to borrow $30,000 from the savings to put in the general fund. Locke said multiple police officers have resigned, forcing the village to pay thousands of dollars in buyouts.

“We paid out one officer, $8,900, and that was benefit time and things like that are on the books. We’ve got another officer that has resigned. We’re going to end up paying him around $6,500 to get him cleared and out of here. And then we will more likely have another officer here in the near future, and we’ll have to pay them out to get them off the books,” Locke said.

To stay afloat, the village has borrowed $30,000 from the TIFF fund, which is for redevelopment projects. Locke said the village has to put that money back in the TIFF.

“We need to pay back the TIFF. I have talked to the TIFF consultant already, and he says we can pay it back next year. He doesn’t recommend that. So, we are going to try to get it paid back by April 30,” Locke said.

The finance committee wants to avoid borrowing money from other funds and hopes to break even in a couple of months.

“I’m hoping in three months, four months, you’re going. Should see an increase in our general fund. I’m not saying it’s going to be perfect, but I’d rather at least be breaking even and not having to borrow money from other accounts,” Locke said.

The village has to have the budget approved for the fiscal year 2026-27 by May 1. Locke said they are working diligently to solve this financial crisis.

There will be a special meeting at 5:30 p.m. on Friday to approve transferring the funds for payroll.