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Finance committee reports higher revenues and urges study on tax‑installment options; budget calendar set
Summary
The finance committee reported $5.8 million higher local revenues year‑to‑date and recommended further study of whether to move from three to four real‑estate tax installment payments; the committee scheduled more budget discussions on June 4 and the board will consider the budget June 8.
Todd Kentorsic, chair of the finance committee, briefed the board on May 26 about April financial results and next steps in the budget calendar.
Kentorsic said April revenues were higher than last year by about $5.8 million and that total revenue as of April 2026 was approximately $172.5 million. He reported year‑to‑date expenditures and encumbrances of $184,208,910.53 and said roughly 73% of the total budget had been expended as of the end of April (excluding encumbrances).
The committee reviewed whether to move from three to four real‑estate tax installment payments. A slide presented at the committee meeting showed that roughly 10% of taxpayers used installment payments in tax year 2025. After discussing timing and equity concerns, the committee recommended continuing to study the options at future finance committee meetings; no change will be made for the upcoming tax year.
Kentorsic also summarized updates to the budget development calendar and said the finance committee will meet on June 4, 2026 (7 p.m.) and the board will continue budget discussion at its next regular meeting on June 8, 2026 where a formal budget vote is planned.
Board members were invited to attend the finance committee meeting to review budget assumptions and projections.
