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Broadview finance committee hears FY2027 budget; health care, pensions and capital projects drive higher costs
Summary
Finance Director Tom Hood presented the proposed fiscal year 2027 budget to the Village of Broadview finance committee, projecting modest revenue growth but citing employee raises, a 17.2% rise in health-care costs (about $575,000), and planned capital spending including an $800,000 park splash-pad allocation.
Finance Director Tom Hood presented the Village of Broadview’s proposed fiscal year 2027 budget at the finance committee meeting on April 15, outlining projected revenues, planned capital projects and the main cost pressures facing the village.
Hood told trustees the village’s general fund shows projected revenues of about $22.4 million against projected expenditures of about $22.3 million and that overall revenues are estimated to increase by roughly $1.1 million next year. He warned, however, that rising personnel and benefit costs are the primary drivers of higher spending.
“The other big changes here… the budgeted numbers reflect a 17.2% increase in health care costs,” Hood said, adding that “health care costs alone are increasing by $575,000 this next fiscal year.” He also said…
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