Lake Barrington trustees approve 2027 appropriation ordinance, transfer $1.5M to infrastructure fund

The Village of Lake Barrington Board of Trustees on June 9 adopted Ordinance No. 2026-06-09, approving the village’s fiscal 2027 appropriation plan and authorizing a $1.5 million transfer from the general fund to the infrastructure fund to pay down debt and finance upcoming projects.

Treasurer Peggy presented pre-audit year-end figures, saying the village ended the fiscal year with assets of $5,427,000, liabilities of $1,276,000 and equity of $4,150,000. "We end the year with assets totaling $5,427,000," Peggy said during her report. She told trustees total revenues were about $4,616,000 and expenses $3,131,000, producing an estimated net income of roughly $1,485,834.

The adopted financial plan projects $3,914,000 in revenue and $3,476,000 in expenses for fiscal 2027, producing a planned net income of about $438,000 after transfers. The ordinance includes $258,000 in one-time expenditures such as a $50,000 business park plan, $25,000 for a gravel path, $17,000 for a Fourth of July component of Barnstock, and purchase of three generators for the water/sewer fund (totaling $225,000). Trustees also authorized road work from the infrastructure fund, roughly $700,000 in capital work, and a contingency allowance.

As part of the meeting the board approved several items in block: amendments to professional services agreements, an addendum to the water and sewer rate study (not to exceed $25,500), a fire-alarm replacement contract (approximately $28,905), and a street-program materials agreement (amount not to exceed $20,660), authorizing the village administrator to execute documents and use a 10% contingency where needed.

President (Chair) praised staff for fiscal stewardship, noting the board’s ability to use reserves to reduce debt. The board approved the appropriation ordinance and the related motions by roll call. The meeting concluded with the board moving to adjourn.