Budget committee backs 2026 financial management plan, recommends timing shifts for Community Park and Progress Drive

On Aug. 19, 2025, the Village of Cottage Grove Budget Review Committee reviewed a draft 2026 financial management plan and voted to recommend that the Village Board adopt the plan and consider shifting the timing of two capital projects — Community Park and Progress Drive — to ease costs and capture efficiencies. The recommendation centers on financing a new police station, applying some Tax Increment District (TID) and fund-balance resources to reduce short-term levy pressure, and asking staff to return to the board with additional details before final decisions. The plan presented by village staff and consultants is a multi-year model covering operating funds, capital projects and levy-limit compliance. Greg (staff member) described the village’s credit context, noting Standard & Poor’s views of the village’s “strong reserve position and liquidity” and calling the village’s long-range planning “sophisticated and proactive.” He said the police station borrowings would not affect the tax roll until 2027: “There will be no impact on the tax roll, until 2027.” Committee members and staff highlighted three short-term funding actions in the draft model. The draft shows a one-time distribution from TID 5 estimated at roughly $850,000 in surplus, of which $50,000 is proposed in the model to reduce the 2026 tax impact. Cameron (staff member) explained that using a portion of those TID proceeds and existing debt-service fund balance helps “step that gap so we don't have…