Consultant presents draft financial management plan; board receives and places it on file

Adam Bridal of Baird presented a draft Financial Management Plan to the Village Board on Jan. 27, describing municipal debt categories, peer rating comparisons and Moody's AA2 rating assigned Dec. 1, 2025. The presentation included historical equalized value trends, net new construction averages, fund balance targets (typical range 25–40 percent), and modeled long-term capital priorities.

Bridal outlined potential priority projects and estimated costs discussed with staff: an addition/renovation of the public works facility (approx. $24 million, 2026–2028), a new public safety building (approx. $38 million, 2028–2031), and later renovations to Village Hall (2031–2036). He said the plan is intended to be a living document that staff will update as priorities and project lists evolve. The village’s water and sewer coverage metrics were reviewed and shown to meet standard coverage ratios.

Trustees asked clarifying questions about how modeled projects would affect debt capacity and mill rates; staff said the plan would be updated to show impacts when project decisions are made. The board voted to receive the draft financial management plan and place it on file; no adoption was required.