Littlesboro finance director says midyear revenues are ahead of expectations; budget timeline set for 2027

Rob presented the 2026 midyear financial review and walked council through five major areas: major funds (revenues and expenses), debt, capital outlay, and a look ahead to 2027 budget timing.

"As of June 30, we're right about the 50% mark," Rob told council, describing the general fund as on track and saying some revenue lines — notably real estate transfer taxes — are running well ahead of the year-to-date budget. He called out a year-to-date real estate transfer figure of $138,000 versus a $87,000 year-to-date budget and said that recent commercial sales (the LGH building) are a contributor. Rob estimated total borough debt at about $8,500,000 and said two general-fund notes and bonds expire in 2040 while a sewer note matures in 2030.

On the expense side, Rob pointed to several drivers keeping year-to-date spending under budget: a paving bid that came in roughly $20,000 under the budgeted amount, lower overtime across police and public works, and capital timing that delays some invoices (notably police HVAC work budgeted at $68,000 but with scope complications). When resident Dave Carson asked about a previously reported $1 million deficit, Rob replied he was "not concerned about expenses being more than revenue for this year," citing a strong 2025 fund balance.

Rob closed the presentation by outlining the 2027 budget calendar: staff draft proposals to the finance committee in September, a working meeting on Nov. 10 to show council the first draft, advertisement at the Nov. 24 meeting, a possible public Q&A in early December, and a council vote to approve the 2027 budget at the end of December.