Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Village staff report delayed property tax receipts, update five-year financial forecast
Summary
Village finance staff told the board on Oct. 5 that Cook County’s billing delays have reduced property tax receipts compared with last year and that staff updated revenue and expenditure projections in a new five-year forecast; they also flagged pension, tariff and state revenue risks and potential home-rule revenue options.
Village finance staff reported at the Oct. 5 board meeting that property tax receipts are running behind last year and that staff have adjusted revenue projections and five-year forecasts accordingly.
Margaret (Finance staff) told the board, “property taxes at this point are now running less than last year by about 3,000,000,” and said Cook County has notified the village that tax bills will likely be delayed into September or October. She said staff expect most property tax revenue to arrive by December but warned of timing issues that could affect cash flow.
The updated forecast presented covers 2026–2030 and incorporates current financial policies, known contract and wage obligations, and assumptions about capital needs. Margaret told the board the general fund is now projected to finish the year about $652,000 over its revenue budget; after planned…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
