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Peotone board previews FY2026 budget with modest fund-balance gain, ARPA set aside for Conrad Street storm work
Summary
Peotone staff presented a final-draft FY2026 budget showing a planned increase in the general-fund balance (about $103,000 after removing a planned patrol position), ARPA funds proposed for the Conrad Street storm-sewer project, higher travel-center and TIF revenues, and a recommended police-pension contribution of roughly $435,000.
Anne Marie, the village finance staff member, presented the village's final-draft FY2026 budget and said the administration plans to maintain a fund-balance policy target of roughly 30% of operating expenditures. She told trustees the draft projects "an increase in fund balance of about $103,000" because an anticipated patrol hire will not be included in the coming year.
The presentation said the Conrad Street storm-sewer project will use ARPA funds allocated through Will County, and staff flagged expected incremental revenue growth from the travel center and reassessment-driven increases in the TIF 2 district. Anne Marie also said the budget includes a recommended police-pension contribution of about $435,000 based on the latest actuarial valuation, and line-item interest income budgeted at about $300,000.
Trustees discussed capital priorities including the Conrad and Crawford Street projects, and staff said the detailed budget book will be available for public inspection beginning tomorrow and that a public hearing and final board approval are scheduled for the 24th. "We usually base revenue estimates on the Illinois Municipal League's per-capita rates," Anne Marie said, noting staff took a conservative approach.
