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Village reviews 2027 budget priorities, flags equipment-replacement shortfall
Summary
Village staff presented the 2027 budget framework, explaining that the village's share of a typical property-tax bill is about 31% and identifying equipment-replacement funding (0.4% of levy) and pending union negotiations as primary budget pressures for 2027.
Village staff presented a preview of the 2027 budget at the June 16 work session, outlining how assessed-value growth, debt-service timing and other revenues shape levy capacity. Finance staff said the village's portion of a typical property-tax bill is just under 31 percent, with the school district and county accounting for larger shares of a homeowner's total bill.
Finance manager Brandon said the village's 2026 expenditure budget rose from $12.6 million to about $13.88 million, an increase he attributed partly to new assessed value and a one-year balloon debt payment budgeted in 2026. He said the village's assessed value grew from roughly $2.1 million in 2024 to $2.36 million in 2025, a 12.9% increase that created roughly $599,000 of additional levy capacity.
Brandon highlighted how levy dollars are spent, noting public safety (police) accounts for more than a quarter of the village's levy-supported budget while equipment replacement was budgeted at just 0.4 percent. "Equipment replacement is pretty low at .4%—that's something we're looking at at a higher level," he said, urging consideration of a formal equipment-replacement policy to protect long-term capital needs.
Trustees questioned how the village projects retiree-related expenses and debt-service spikes. Staff said year-end surpluses have been moved into a future-benefits fund (with a local limit cited in discussion) and that the 2026 debt-service spike reflected a planned balloon payment meant to reduce future levy pressure for borrowing.
The presentation also covered department requests that could affect 2027 spending, including proposed full-time and part-time positions for public services, community development, communications, recreation and the library; a pay-scale study for salaried staff; and park or program investments. Staff said some items could be funded from special-revenue funds rather than the general fund.
The village board did not take a final vote on levy policy during the work session but will use these projections and upcoming state equalized-value and shared-revenue estimates due in August and September to refine levy and budget decisions later this year.
