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North Fond du Lac board adopts 2026 budget, sets tax levy and authorizes $1.515 million promissory notes
Summary
The Village Board adopted Resolution R-12-2025 to approve the 2026 budgets covering general operations, debt service, capital projects and several special funds, and approved R-13-2025 to authorize up to $1,515,000 in general obligation promissory notes to finance capital improvement projects; both passed unanimously.
The Village of North Fond du Lac Board of Trustees adopted the village’s 2026 budgets and set the 2026 tax levy on Nov. 17, 2025, then authorized the sale of up to $1,515,000 in general obligation promissory notes to finance capital improvement projects.
Administrator Nick Leonard summarized the draft 2026 budget before the Board recessed to a public hearing at 6:02 p.m. for Resolution R-12-2025, which covers the General Operating Fund, Debt Service Fund, Capital Projects Fund, Spillman Library, Outdoor Recreation, SLFRF, EMS Fund and Tax Increment District #2. President Michael Streetar called for public comment three times and heard none before the hearing closed at 6:03 p.m.
Following the public hearing, Trustee John Duffy moved to approve R-12-2025, and Trustee Gary Schaub seconded. A roll call vote recorded Duffy, Hornung, Streetar, Schaub and Will as voting yes; the resolution passed unanimously.
The Board then considered Resolution R-13-2025, authorizing the issuance and sale of not-to-exceed $1,515,000 general obligation promissory notes, series 2025A, to fund 2025–2026 capital improvement projects. Leonard explained the purpose of the notes; Paul Boening of Ehlers, the village’s public finance advisor, outlined the sale process and parameters and said the sale is scheduled for Dec. 9, 2025.
Trustee Mike Will moved to approve R-13-2025, with Trustee Gary Schaub seconding. The roll call vote was unanimous and the resolution carried.
What this means: the approved operating and special fund budgets provide the village’s funding plan for 2026, and the authorized promissory notes will provide short-term debt financing for capital projects identified in the village’s 2025–2026 capital improvement plan. The sale date for those notes is set for Dec. 9, 2025.
Next steps: staff will proceed with the scheduled note sale and implement the adopted budgets and capital projects as authorized by the resolutions.
