Round Lake Beach adopts $45.26 million FY2026 budget; plans capital and water projects
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Summary
The village board approved the fiscal year 2026 municipal budget totaling $45,261,262, including capital project funding and a small reserve‑funded gap to finance capital outlays. Finance staff said the property tax increase is 1.9% and the village holds a double‑A2 bond rating.
The Round Lake Beach Board of Trustees voted April 21 to adopt the municipal budget for the fiscal year beginning May 1, 2025, and ending April 30, 2026, with total expenditures of $45,261,262.
Director of Finance McGinley presented the budget at an open public hearing earlier in the meeting and outlined major components: personnel costs, operating expenditures divided among departments, a 10‑year capital plan, and pension and insurance items. The board approved the ordinance adopting the budget by roll call vote.
McGinley said revenue projections total $45,200,589, leaving an approximate gap of $60,000 that the village will cover from reserves to fully fund planned capital projects. He highlighted a 1.9% property tax increase in the levy year and noted the village’s double‑A2 bond rating. The presentation also showed that roughly half of the village’s revenues come from intergovernmental sources (including sales tax) and about 30% from property taxes.
On capital investments, finance and public works staff said the FY2026 plan includes a $2.3 million general capital improvements allocation (engineered projects and preventative maintenance) and a larger investment in water system projects. McGinley described approximately $3.24 million budgeted for water projects in FY2026 and roughly $700,000 budgeted for sewer projects; the water and sewer operations fund, he said, is primarily supported by resident water charges.
Trustees thanked the finance team and noted Assistant Director Nahid Kumar’s participation in the budget work. No public comments were recorded on the budget during the hearing; the board closed the public hearing before adopting the ordinance.
The motion to adopt the FY2026 municipal budget was moved by Trustee Huske and seconded by Trustee Ibarra; the board recorded ayes on roll call and the ordinance passed.
The budget ordinance authorizes interfund transfers and funds capital projects identified in the village’s 10‑year capital plan; staff said using reserves to cover the small shortfall is planned and tied to completing capital work scheduled for FY2026.
