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Tinley Park midyear budget review shows healthy finances; Harmony Square staffing and capital requests highlighted
Summary
At the Jan. 7 Committee of the Whole meeting staff reported the village’s FY25 finances are in good shape, noted bond proceeds and capital transfers, and previewed FY26 budget requests tied to Harmony Square and other capital needs.
Trustee Brennan introduced a midyear budget overview and staff presented a status report on the current fiscal year and an initial look at fiscal year 2026; trustees discussed Harmony Square staffing, capital requests and timing for final adoption.
Hannah, staff member, told trustees the general fund’s year-to-date revenues exceed expenditures and that year-end revenue projections are above budget, with current revenues “hovering about 75,000,000,” which staff described as a healthy position. She cautioned that some sources such as motor-fuel revenues (state fuel tax) should be monitored because increased vehicle efficiency and EV adoption can reduce that revenue stream.
Hannah reviewed capital and bond-funded items: bond proceeds received in August increased several funds’ revenue lines and staff have transferred capital funds into newly created funds such as a downtown initiatives fund to support Harmony Square. She said the village’s capital improvement fund shows large budgeted amounts because transfers and carryovers fund specific projects rather than immediate expenditures.
Looking at FY26, staff said operating expenses are initially projected to rise about 5.69% and that departments submitted roughly $1.45 million in new personnel requests and about $72 million in capital requests (about $25 million of the capital requests are bond-funded carryovers). Hannah described requests tied to Harmony Square operations — custodians/maintenance, marketing coordinators and seasonal staff for the ice rink — and said the village created a separate operating and capital fund for Harmony Square, though it will not be a standalone enterprise fund immediately.
Staff outlined a tentative FY26 timeline: a draft for board review by mid-March, public inspection by end of March, public hearing in early April and final adoption in the second April meeting for a May 1 effective date. Trustees asked operational questions about Harmony Square’s fund structure and staffing; staff said video-gaming and amusement-tax revenues have been earmarked to support the plaza and further revenue allocation will depend on actual operating results. No budget adoption occurred at the Jan. 7 committee meeting; the presentation was informational and the committee provided guidance to staff.
