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Village finance staff report stronger sales-tax receipts, kick off 2026 budget process
Summary
Staff presented the June financial report and opened the 2026 budget process, reporting higher sales-tax receipts tied to state sourcing changes, modest increases in property-tax receipts so far, and overall general-fund drawdown projections close to budgeted levels.
Nikki, a finance staff member, told the Village Finance Committee that the village’s June financial report shows year-over-year increases in several revenue categories and that staff is beginning the 2026 budget process. "For the month of June, our property taxes we have received here to date are more than last year by about 63,000, about 51% of budget," Nikki said, adding that the village has received a first installment and is projecting to collect remaining receipts by Dec. 31.
The report said sales taxes are running higher than last year “because of the changes that were made by the…
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