Gurnee finance director reports stronger-than-expected revenue through October; fund balance may support capital plan

The Gurnee Village Board received its fiscal 2026 second-quarter financial update on Dec. 15, in which Finance Director Bridal Gusnel described revenue performance and fund-balance levels ahead of seasonal expectations.

Gusnel said cash and investments totaled about $50.1 million as of October, with roughly 65% of all funds held in the general fund. He reported general fund receipts of approximately $20.9 million, or about 56.7% of the annual budget, putting the village roughly 10.1% ahead of a seasonally adjusted target and 7% ahead of the prior year. "Overall, doing well," Gusnel said when summarizing the topline numbers.

Sales-tax revenue (home-rule and state-shared) and food-and-beverage receipts were notably strong; amusement tax lagged its seasonal target. Expenditures were at about 49.3% of budget, mainly reflecting timing variances; the finance director cited insurance premiums and a recently settled litigation expense among timing items. Gusnel reported an unaudited FY25 general fund balance of about $34,370,000, approximately 76% of policy and $5.9 million above the village policy floor. He noted the village plans an aggressive capital program and that much of the surplus could be used to support projects such as Fuller Road and an irrigation system upgrade.

Gusnel invited questions; trustees requested lists of top-performing sales tax categories and clarification on timing variances. The director said some year‑over‑year increases align with incentive agreements with businesses and pointed to a forthcoming capital meeting and budget conversation in January.