Agenda Item:
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Presentation of the Draft Calendar Year 2027 Budget
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Staff Contact: Nikki Larson, Deputy Village Manager/Chief Financial Officer
Budget Impact: Budgeted
Strategic Priority Addressed: Workplace of Excellence, Reliable Infrastructure, Economic Vitality, Community Resilience
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BACKGROUND AND ANALYSIS
The draft Calendar Year 2027 Budget document has been posted to the Village’s Transparency Portal on the Village’s website and can be accessed here: http://www.villageofglencoe.org/draftCY27budget.
The draft budget was distributed to the Village Board on October 8 and will be extensively reviewed at the Finance Committee Meeting scheduled for October 13, 2026. During these discussions, Trustees will be asked to provide feedback on proposed operation plan for Calendar Year 2027 as well as review Community Investment Program (CIP) requests.
The draft budget, excluding revenues and expenditures for the pension funds, now includes $40,706,012 in revenue and $49,223,579 in expenditures. Attached to this memorandum are operating statements that reflect a summary of expenditures and revenues by fund. The draft budget as presented uses significant fund balance resources, including bond resources. In line with the Village’s balanced budget policy, operating budgets as presented are in balance.
The development of the draft Calendar Year 2027 Budget has included review of requests at each department level, followed by reviews by the Administration and Finance Department to determine appropriate resource recommendations. Over the past several months, the Finance Committee has also discussed and offered guidance on financial forecasts and policies, infrastructure and capital expenditures and has provided critical analysis of the Village’s financial condition. These have been integrated into this document as well.
A few key highlights of the budget include the following:
Continued focus on Community Investment Program (CIP). A total of $10,325,0...
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