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Glencoe finance committee reviews draft 2026 budget, highlights $92.1M 10-year CIP and levy strategy
Summary
The village presented a draft 2026 operating budget and a $92.1 million, 10-year Community Investment Program. Staff said the property tax levy request follows a 2.9% Department of Revenue guideline and will rely in part on one-time reserve use and proposed bond financings; no adoption took place.
The Village of Glencoe' finance team presented the draft 2026 operating budget and a 10-year Community Investment Program (CIP) to the committee in a public meeting.
Staff said total operating funds are about $52 million in revenue against roughly $58 million in proposed expenditures and that the 10-year CIP totals $92.1 million, including $19.5 million of projects in 2026. The presentation emphasized that the village intends to use one-time reserves for capital projects where policy allows, while preserving ongoing operating capacity.
Manager Crowley and finance staff told the committee the property tax levy request is being framed to abide by the Department of Revenue' guidance tied to CPI (the staff' cited 2.9% cap) and to capture new-growth adjustments; the final levy percentage will appear on the formal levy ordinance presented to the village board after the required public hearing.
Finance staff also outlined a financing plan that includes two proposed revenue-bond issues to support large capital items, notably the golf-clubhouse project. Staff stressed that these are planning-level actions; final bond issuance would follow board approvals.
The meeting closed without a final vote on the budget; next steps include a public property-tax-levy hearing and formal board consideration in December.
