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Northbrook board accepts 2025 Annual Comprehensive Financial Report, cites $5.5M surplus
Summary
Trustees accepted the village—s FY2025 Annual Comprehensive Financial Report, which showed an approximately $5.5 million general-fund surplus versus a budgeted $200,000 surplus; trustees said some surplus will be directed toward pensions and infrastructure.
The Village of Northbrook Board of Trustees voted to accept the fiscal year 2025 Annual Comprehensive Financial Report (ACFR) and supporting documents.
Trustees thanked CFO Drasner, his staff and department heads for preparing the ACFR and the independent auditors for their work. The report presented to the board showed the general fund ending the year with roughly a $5.5 million surplus after interfund adjustments; the board had initially budgeted a roughly $200,000 surplus. Trustees said they would designate portions of the surplus toward pension funding and infrastructure investments.
Board discussion emphasized the village—s long-term pension funding goal: trustees said Northbrook is about 60% funded on police and fire pensions and described a multi-year objective to reach 90% and ultimately 100% funding by the municipal timetable cited in discussion. Trustees also characterized the financial position as fiscally sound and thanked staff.
Ending
Trustees moved and adopted the resolution accepting the ACFR by roll call vote; the motion passed unanimously. The board—s acceptance will be reflected in the village—s financial records and used in forthcoming budget and capital planning work.
