Gurnee finance director says first-quarter revenues are ahead of seasonal budget; amusement tax lags

Finance Director Bridal Gosnell told the Village of Gurnee Board of Trustees on Sept. 22 that first-quarter financial results for fiscal 2025–26 show revenues running ahead of seasonal expectations overall, though amusement tax and use tax are trailing. Gosnell said total cash and investments at the end of July were about $49.8 million (excluding pensions), with 12% in checking, 55% in money market accounts and 33% in investments. Through the first quarter, general-fund revenues reached roughly 27.5% of the annual budget, about 8.9% ahead of the seasonally adjusted budget and about 6% ahead of the same period last year. The presentation highlighted sales tax growth — partly driven by legislative changes that brought more online retailers into the tax base — and stronger-than-budgeted food-and-beverage and hotel taxes. By contrast, amusement tax, driven in part by Six Flags, was 10.2% behind the seasonally adjusted budget and 12.7% below the prior year. Gosnell told trustees that several expenditure variances were timing issues: large insurance premiums, some annual maintenance contracts and reimbursements that come early in the fiscal year push expenditures higher in quarter one. On the water and sewer side, year-to-date revenues were roughly 22.9% of budget and expenditures reflected timing related to capital payments, producing an anticipated $2.3 million budgeted reduction in fund balance. Gosnell said the first-quarter numbers “don’t show anything that would affect next year’s general fund transfer and capital plan” at this point and offered to answer questions. No board action was required; trustees heard the report and had no substantive follow-up directives recorded. Background: Gosnell said the quarterly report covers May 1 through July 31 and that more detailed materials would be posted online within a few days.