Committee approves 2027 budget calendar; staff flags $7 million borrowing for public works addition in 2027

Renee Whitley presented the proposed 2027 budget calendar and asked the Finance Committee to approve schedules used in prior years. She said departments will be asked to submit capital and operating budgets by July, the village will hold a joint meeting with the full board on Oct. 19 for presentations, an extra public-comment session is scheduled for Nov. 2, and the statutorily required public hearing and adoption night is set for Nov. 16.

On the impact of changes with the fire department, Whitley said budgeting mechanics could change if the village takes over services—“instead of it budgeting to make a payment to the fire district, we would be budgeting as a department of the village”—but staff do not currently expect a large net increase to the total levy. She said staff will prepare scenarios for the October meeting and more complete details for November.

Whitley and the committee also discussed capital borrowing plans: the village borrowed earlier in the year for the public works addition and expects to borrow roughly $7 million in 2027 to complete the project and renovation. She said the village’s debt capacity would increase with growth in equalized value, and staff will follow up with precise forecasts to show the effect on percent-of-capacity.

A committee member moved to approve the proposed 2027 budget calendar; the motion was seconded and approved by voice vote. The committee set Oct. 19 for the joint meeting, Nov. 2 for the extra public-comment session, and Nov. 16 for the public hearing and adoption.