HomeMy WebLinkAboutRESOLUTION - 22-25 - 4/8/2025 - 2025-26 BUDGETRESOLUTION NO.22-25
A RESOLUTION ADOPTING THE FISCAL YEAR 2025-26 BUDGET FOR THE
VILLAGE OF ELK GROVE VILLAGE, ILLINOIS
WHEREAS, a budget has been prepared and reviewed to provide Village services for the
2025-26 fiscal year; and,
WHEREAS, the maintenance of a financially strong local government requires that a
balanced budget be adopted to provide for the delivery of services to the community.
NOW, THEREFORE, BE IT RESOLVED, by the Mayor and Board of Trustees of the
Village of Elk Grove Village, Counties of Cook and DuPage, State of Illinois as follows:
Section 1: That the Fiscal Year 2025-26 Village Budget dated April 8, 2025 in the total
amount of $253,630,213 as indicated in the attached Revenue and Expenditure Summary
Comparisons, is hereby adopted.
Section 2: That all resolutions or parts of resolutions in conflict with this Resolution are
hereby repealed.
Section 3: That this Resolution shall be in full force and effect from and after its adoption,
approval and publication form as provided by law.
VOTE: AYES: 6 NAYS: 0 ABSENT: 0
PASSED this 8th day of April 2025.
APPROVED this 8th day of April 2025.
APPROVED:
Mayor Craig B. Johnson
Village of Elk Grove Village
ATTEST:
Loretta M. Murphy, Village Clerk
PUBLISHED in pamphlet form this loth day of April 2025.
VILLAGE OF ELK GROVE
EXPENDITURE SUMMARY
Fund
FY2023
Actuals
FY2024
Actuals
FY2025
Adjusted Budget
FY2026
Adopted Budget
101 -General Fund
$
71,904,087
$
77,325,565
$
84,930,337
$
80,952,868
203 - Motor Fuel Tax Fund
$
1,476,357
$
1,564,617
$
2,779,651
$
2,050,000
204 - Asset Seizure
$
3,268
$
31,796
$
170,181
$
21,000
206 - Foreign Fire Insurance Fund
$
198,487
$
179,543
$
458,176
$
271,760
208 - Business Leaders Forum Fund
$
3,967,046
$
2,904,956
$
7,253,698
$
6,626,935
210 - Cable Television Fund
$
485,182
$
485,819
$
484,814
$
-
212 - GREEN Fund
$
931,874
$
926,953
$
1,030,121
$
899,176
301 - Capital Projects Fund
$
9,934,842
$
5,611,386
$
21,025,027
$
12,105,000
310 - Residential Enhancement Fund
$
1,123,089
$
220,888
$
385,000
$
643,000
321 - Devon/Rohl Redevelopment Fund
$
923,866
$
301,137
$
516,000
$
282,000
322 - Busse/Elm Redevelopment Fund
$
13,790,408
$
41,304,789
$
52,560,210
$
62,657,848
323 - Higgins Rd Redevelopment Fund
$
4,077,911
$
3,435,388
$
6,389,575
$
7,897,295
324 - Midway Ct Redevelopment Fund
$
383,615
$
4,602,270
$
-
$
-
325 - Oakton/Hig Redevelopment Fund
$
378,750
$
9,730
$
21,000
$
3,100,500
326 - Arlington/Higgins Redev. Fund
$
1,699,624
$
2,497,529
$
22,881,852
$
13,248,000
402 - Debt Service Fund
$
8,047,211
$
6,774,311
$
6,762,714
$
6,860,175
501 - Water/Sewer Fund
$
22,764,206
$
22,299,185
$
29,176,332
$
27,787,495
601 - Capital Replacement Fund
$
1,538,591
$
1,382,269
$
7,337,749
$
1,270,000
721 - Firefighters Pension Fund
$
8,290,453
$
8,764,590
$
9,488,800
$
9,913,750
722 - Police Pension Fund
$
8,436,422
$
8,763,646
$
9,234,100
$
9,654,750
Village Total
$
160,355,287
$
189,386,367
$
262,885,337
$
246,241,552
290-Library Fund $ 5,613,173 $ 6,049,128 $ 7,144,492 $ 7,388,661
Total Village and Library $ 165,968,460 $ 195,435,495 $ 270,029,829 $ 253,630,213
VILLAGE OF ELK GROVE
REVENUE SUMMARY
Fund
FY2023
Actuals
FY2024
Actuals
FY2025
Adjusted Budget
FY2026
Adopted Budget
101 - General Fund
$ 76,153,733
$
85,734,028
$
75,003,112
$
79,990,880
203 - Motor Fuel Tax Fund
$ 1,791,651
$
1,590,966
$
1,500,000
$
1,585,000
204 - Asset Seizure
$ 23,231
$
59,708
$
57,450
$
33,000
206 - Foreign Fire Insurance Fund
$ 218,359
$
226,549
$
222,000
$
230,000
208 - Business Leaders Forum Fund
$ 5,829,097
$
4,782,970
$
4,976,825
$
4,939,860
210 - Cable Television Fund
$ 408,292
$
522,818
$
526,620
$
-
212 - GREEN Fund
$ 932,460
$
900,140
$
899,000
$
887,000
301 - Capital Projects Fund
$ 16,876,658
$
11,379,534
$
5,443,200
$
7,577,365
310 - Residential Enhancement Fund
$ 431,458
$
430,456
$
435,000
$
440,000
321 - Devon/Rohl Redevelopment Fund
$ 541,930
$
353,203
$
600,500
$
350,500
322 - Busse/Elm Redevelopment Fund
$ 28,599,177
$
41,740,243
$
36,000,500
$
44,001,000
323 - Higgins Rd Redevelopment Fund
$ 4,055,719
$
6,292,040
$
5,010,200
$
7,010,200
324 - Midway Ct Redevelopment Fund
$ -
$
5,001,048
$
-
$
-
325 - Oakton/Hig Redevelopment Fund
$ -
$
2,526,221
$
-
$
-
326 - Arlington/Higgins Redev. Fund
$ 1,525,647
$
20,050,221
$
7,000,000
$
130,200
402 - Debt Service Fund
$ 8,072,807
$
8,573,853
$
8,472,714
$
7,819,375
501 - Water/Sewer Fund
$ 30,940,085
$
34,675,724
$
22,946,970
$
23,404,276
601 - Capital Replacement Fund
$ 2,172,995
$
2,106,814
$
2,406,766
$
2,063,511
721 - Firefighters Pension Fund
$ 9,286,760
$
17,742,432
$
14,279,182
$
14,867,859
722 - Police Pension Fund
$ 9,683,262
$
17,118,741
$
13,942,091
$
14,826,213
Village Total
$ 197,543,321
$
261,807,708
$
199,722,130
$
210,156,239
290 - Library Fund $ 6,772,471 $ 7,278,102 $ 7,144,492 $ 7,388,661
Total Village and Library $ 204,315,792 $ 269,085,811 $ 206,866,622 $ 217,544,900
Village of Elk Grove Village Exhibit 1
Summary of Estimated Revenue by Source
Fiscal Year 2025-26
Funds
Taxes
Licenses and
Intergovernmental
Charges for
Fines and Forfeits
Interest Income
Miscellaneous
Non Revenue
Village Total
Permits
Revenue
Service
Income
Receipts
101- General Fund
$
57,315,520
$ 5,960,050
$ 8,447,284
$ 2,573,000
$ 962,500
$ 1,201,926
$ 790,600
$ 2,740,000
$ 79,990,880
203 - Motor Fuel Tax Fund
$ 1,485,000
$ 100,000
$ 1,585,000
204 - Asset Seizure
$ 21,000
$ 12,000
$ 33,000
206 - Foreign Fire Insurance Fund
$
220,000
$ 10,000
$ 230,000
208- Business Leaders Forum Fund
$
4,500,000
$ 439,860
$ 4,939,860
212 - GREEN Fund
$ 105,000
$ 715,000
$ 15,000
$ 52,000
$ 887,000
301 - Capital Projects Fund
$
4,750,000
$ 1,827,365
$ 1,000,000
$ 7,577,365
310 - Residential Enhancement Fund
$ 430,000
$ 10,000
$ 440,000
321- Devon/Rohl Redevelopment Fund
$
350,000
$ 500
$ 350,500
322 - Busse/Ehn Redevelopment Fund
$
43,000,000
$ 1,001,000
$ 44,001,000
323 - Higgins Rd Redevelopment Fund
$
7,000,000
$ 10,200
$ 7,010,200
326 - Arlington/Higgins Redev. Fund
$
100,000
$ 30,200
$ 130,200
402- Debt Service Fund
$
6,019,375
$ 100,000
$ 1,700,000
$ 7,819,375
501 - Water/Sewer Fund
$ 21,100,000
$ 225,000
$ 1,794,276
$ 5,000
$ 280,000
$ 23,404,276
601 - Capital Replacement Fund
$ 50,000
$ 2,013,511
$ 2,063,511
721 - Firefighters Pension Fund
$
5,835,740
$ 991,119
$ 7,001,000
$ 1,040,000
$ 14,867,859
722-Police Pension Fund
$
5,366,457
$ 898,756
$ 7,501,000
$ 1,060,000
$ 14,826,213
Village Total
$
134,457,092
$ 6,065,050
$ 11,822,159
$ 24,388,000
$ 1,638,500
$ 21,104,327
$ 3,947,600
$ 6,733,511
$ 210,156,239
290- Library Fund $ 6,871,151 $ 216,660 $ 39,500 $ 9,750 $ 243,500 $ 4,000 $ 4,100 $ 7,388,661
Total Village and Library $ 141,328,243 $ 6,065,050 $ 12,038,819 $ 24,427,500 $ 1,648,250 $ 21,347,827 $ 3,951,600 $ 6,737,611 $ 217,544,900
PERCENT TOTAL 64.97% 2.79% 5.53% 11.23% 0.76% 9.81% 1.82% 3.10% 100.00%