[{"_1":2,"_87":-5,"_88":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},"mediaId",6331007,"mediaKeyId","2313172-28db3e2786758470423bc87b44faebce","parentId",2313172,"title","Finance committee reviews capital plan and deep-tunnel stormwater project; staff flags reimbursement and cash-flow risk","audioSeconds",261,"startMs",1455000,"endMs",1716000,"viewUrl","/Search/View?dp=1&key=2313172-28db3e2786758470423bc87b44faebce&start=1455&end=1716","thumbnailUrl","https://assets.pipeline.soar.com/2313172-28db3e2786758470423bc87b44faebce/thumbnail_1455000.jpg","articleUrl","/articles/6331007/Lake-Bluff/Lake-County/Illinois/Finance-committee-reviews-capital-plan-and-deep-tunnel-stormwater-project-staff-flags-reimbursement-and-cash-flow-risk","mediaUrl","https://secure.pipeline.soar.com/6331007-7bc9da0716fd9d873e0dae98f4ff5c6f/orig.mp4?Expires=1778873217&Signature=VtGaRLnR9ofUF~izcrcwvIn0AZU2qbN8uvAGHHvwRJujAKrggozH9gHjyCJkOZCiYWsulP21b9yWWaFvbWXuDzRMrKXIFyxOzYQaOnR20~kDUGv4aMhcaOFbNd~ZKB1SHYI-RgIytdmxPpfauTDh~7l2cMHjbnSiygPBlgRctRAScUGJqQ~XN47b-8umK-GmfwWrUNWSLQtRg2ID8SzudB0i0i2033wMLreX9RuqPdnTXyDEDpvXuZsiHuTKNV0ct22VgpnAu8PiO76tG9RuO8-8R5K5Efs4gjYuWngFmA8g2urvoCLrG7ObvdjNre-asdAKQ--YRFPK-Hfc1PLm7A__&Key-Pair-Id=KUT5TJCACFTXG","author","Village of Lake Bluff, IL","date","2025-02-13T21:08:43Z","article","Lake Bluff Finance Committee members on Feb. 10 reviewed the draft 15-year capital program and spent most of the session on a proposed deep-tunnel stormwater project and related cash-flow implications.

Staff said Lake County has awarded approximately $2.7 million for the viaduct storm-sewer project but will retain roughly $300,000 for administration, leaving about $2.4 million available for construction if the village meets program requirements. Jeff (project staff) told the committee that the county expects to obtain the money from a state grant program administered by the Illinois Department of Commerce and Economic Opportunity (DECEO), and that DECEO reimburses grantees quarterly rather than monthly.

Jeff said that if the village meets the program’s business-enterprise participation goals (a stated 28% BEP target for disadvantaged/women-owned firms aggregated across county projects), reimbursement could occur in four to six months; if the goals are not met, reimbursement could take about 12 months or longer. Jeff said the village had not yet received the intergovernmental agreement in writing but expected it soon.

The committee discussed the project scale and phasing. Staff proposed a $3.9 million first-phase scope that would extend the storm sewer from Lake Michigan westward to Moffett Avenue, with roughly $2.4 million from the county/state award and about $1.5 million from the village stormwater utility. Members heard that the construction sequence will likely start at the lake and work west to reduce interim flooding and that the pipe may be as deep as 40 feet in places.

Cash-flow implications and staff recommendation: because the state reimbursement timeline is uncertain, staff recommended deferring a $300,000 annual sanitary-sewer lining line item (line 26) from the immediate capital plan so the village does not have to float additional cash while waiting for reimbursements. Bettina said the updated capital spreadsheet assumes the village will need to temporarily provide cash for portions of the project and that fund balances after the proposed spending would remain above the committee’s safety target in the scenarios presented.

Other capital items discussed: a grant-dependent “Block 1” downtown improvement project (budgeted at $1 million in the packet assumptions), Green Bay Road reconstruction and bridge work (multi-year costs, partially grant-funded at an 80/20 split), vehicle-replacement contributions (increasing transfers to plan for a costly fire truck that can take up to four years to deliver), and smaller re-allocations of staff salaries across public-works subprograms. Committee members asked for more project detail and for staff to present alternative phasing and a clearer cash-flow timeline at the next meeting.

Ending: Staff said they would forward the county intergovernmental agreement when it arrives and return with updated bid and cash-flow scenarios before the next budget meeting; the committee agreed to revisit the sanitary-sewer line and Block 1 assumptions when those details are available.","mediaType","Video","parentTitle","LBFinance February 10, 2025","oneSentenceSummary","Committee discussed a $3.9 million deep-tunnel stormwater project split between a county/state award and village funds, potential reimbursement delays through the state program, and staff recommended holding a $300,000 sanitary-sewer line pending bid results and reimbursement timing.","taxTitle","Lake Bluff, Lake County, Illinois","taxId",70473,"location","headline","","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":78,"_43":79,"_45":80,"_47":81,"_49":82,"_51":83,"_53":84,"_55":56,"_57":58,"_59":85,"_61":62,"_63":64,"_65":86,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6331012,"Lake Bluff finance panel presses for clearer police-pension funding as budget is drafted",619,619000,1238000,"/Search/View?dp=1&key=2313172-28db3e2786758470423bc87b44faebce&start=619&end=1238","https://assets.pipeline.soar.com/2313172-28db3e2786758470423bc87b44faebce/thumbnail_619000.jpg","/articles/6331012/Lake-Bluff/Lake-County/Illinois/Lake-Bluff-finance-panel-presses-for-clearer-police-pension-funding-as-budget-is-drafted","https://secure.pipeline.soar.com/6331012-c972da77f4e3111aa0e8964db22bde92/orig.mp4?Expires=1778873217&Signature=GoT5stJgySgkPJ~zc-iqLic8g7OYzHUJg5GQGPXeGZKIACMzhIw8eKRKTKjKI6suwZwXQ6cuRNQHc~9I0hIJGPV82Dy4spmmI6lppeu84aN4Dm8yYj7vT5iorMiLgHvwKKKl-OKOKThW7xPOj9DLDnPis-U9e1nQslopaOWE3iCqcXj~yzTlnrR4-sM3OeIiTUSToTrA5omHO8gTWy0FTcsuDx5R39keb87Fscc31HE~MedNtOABbK-6POlNZAQ6ibhEIFKFHs22snxNe5lXEkN85jB9K7MJbi6fiiBNiWlSdIKaM5MQxzw53KYZX5ob24-4d2U~~MnEDVEeUwr90A__&Key-Pair-Id=KUT5TJCACFTXG","Lake Bluff Finance Committee members on Feb. 10 pressed staff about how the village’s police pension obligations are reflected in the draft general fund budget after packet materials showed the plan as about 56% funded.

The committee’s discussion centered on actuarial assumptions and levy timing. Bettina (Finance staff) told the committee the 56% funding level was “where we were as of 04/30/2025.” Chair Reiner said the current funding strategy leaves an intergenerational shortfall: “We’re expecting our children to pay them,” Reiner said, arguing the village should account more fully for the cost of current police staffing in the annual budget.

Why it matters: the committee is setting the budget calendar and will decide how much to transfer from the general fund to support pension liabilities. Members noted that changes in the discount rate used by the pension actuary would raise the required levy; the packet showed the pension board had been using a 7.0% discount-rate assumption and members discussed the impact of reducing that assumption to 6.75% or 6.5%.

Committee members asked for more recent actuarial calculations tied to the current valuation and for the pension actuary to return with clarifying figures. Bettina said she could request the current-year valuation calculation to show how the contribution would differ from prior-year numbers.

Committee members also discussed policy options for limiting the effect of pension liabilities on the operating budget. One proposal, raised by a member, was a year-end “sweep” of unspent general-fund dollars to earmark for the pension, with the final allocation decided after other year-end priorities are set. Bettina and other members noted the village is already tracking a multi-year target to increase funding toward full funding by 2040; the committee asked for clearer scenarios showing how various transfers or one-time sweeps would change the funding ratio and near-term levy requirement.

What was not decided: the committee did not adopt any new policy or formal motion on pension funding at this meeting. Members asked staff to bring back updated actuarial calculations and options for potential year-end transfers or other mechanisms to accelerate funding.

Ending: Staff said they would request the current valuation details from the actuary and return to the committee with updated figures at a future meeting, and members signaled support for reviewing end-of-year sweep options before final budget adoption in April.","Members of the Lake Bluff Finance Committee pressed staff and the pension actuary for clearer numbers and options after hearing the police pension fund is about 56% funded; discussion focused on discount-rate assumptions, near-term levy timing and options to sweep year-end funds into the pension.","actionData","errors"]

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Finance committee reviews capital plan and deep-tunnel stormwater project; staff flags reimbursement and cash-flow risk

Lake Bluff finance panel presses for clearer police-pension funding as budget is drafted