Treasurer warns property-tax timing clouds village revenues; general fund reserve reported at $15.9M

The village treasurer presented the April financial report Thursday and told the finance committee that the timing of property-tax receipts from Cook County has created a shortfall in the current accounting period that could change when county reporting is updated.

The treasurer said property-tax receipts are down $247,000 from the prior year for the second installment and that, overall, collections are “less than prior year by $2,400,000” because some receipts are being accrued back to 2025. With the current receipts included, the general fund shows a $736,000 surplus; excluding those prior-year tax receipts, staff said the general fund would show a $1.4 million deficit.

Staff said the figures are likely a timing issue tied to Cook County’s reporting cadence and that $4,400,000 received in April is believed to relate to the first installment for 2026. The treasurer emphasized other revenue lines are tracking above budget — sales tax, state income tax, building permits and fees — and noted planned capital drawdowns and personnel-cost pressures tied to vacancies and hiring.

Fund reserves at month end were reported at $15,900,000 (54.3% of budget). The treasurer also summarized the water fund (revenue-only ahead by $86,000 and fund reserves at $2,600,000, 46% of budget) and cautioned about rising commodity and technology costs that could increase capital and operating expenses.

Construction and audit updates: staff provided a clubhouse construction update and said they received a draft audit; the final draft is expected shortly and an audit presentation will be scheduled in June.

What this means: staff characterized the current position as largely a timing issue that could improve once Cook County finalizes allocations, but asked the committee to monitor commodity and personnel-cost trends that are pushing expenditures higher.