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Lake Bluff finance committee previews FY2027–28 budget, plans large stormwater and facility projects as reserves decline
Summary
The Village of Lake Bluff Finance Committee reviewed a draft FY2027–28 biennial budget and capital program that relies on targeted reserve transfers to fund water, stormwater, roads and facility work; staff said reserves are projected to fall from about 92% to about 51% by the end of 2028 and flagged an $11 million master stormwater need with smaller near-term projects planned.
Bettina, presenting staff’s high-level overview, told the Finance Committee the village’s proposed FY2027–28 biennial general fund and capital plan anticipates a roughly 3.4% increase in operational expenditures and targeted use of reserves to support major infrastructure investments. "We're reviewing the fiscal year 2027-2028 biennial general fund and capital project overview," she said, and confirmed the public process includes a hearing on April 13 and final adoption targeted for May 1 as required by law.
The presentation outlined revenue assumptions: property-tax growth driven by CPI adjustments and new construction; projected sales-tax growth of about 3%; and stronger-than-expected state income-tax distributions, although staff noted a possible small reduction referenced by the governor. On the expense side, Bettina said the village anticipates…
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