Submitted By
Donna M. Gayden, Interim Chief Financial Officer
Reviewed By
A.M. Zayyad - Deputy Village Manager
Agenda Item Title
Title
Review of the Fiscal Year 2025 Proposed Budget
End
Overview
This meeting is the second meeting of the Finance Committee to review the recommended budget for fiscal year 2025. Staff will be presenting their requested budget as follows:
1. Neighborhood Services
2. Human Resources
3. Finance
4. Information Technology
5. Law
6. Village Clerk’s Office
7. Village Manager’s Office
a. Adjudication
b. Communications
c. Economic Vitality
d. DEI
e. Sustainability
Anticipated Future Actions/Commitments
Additional meetings of the Village Board are scheduled pertaining to adoption of the FY24 operating budget as follows:
November 12, 2024: Adoption of CIP
November 19, 2024: Truth & Taxation Hearing
November 19, 2024: Full Board to review budget
November 21, 2024: Budget Public Hearing
November 21, 2024: Special Budget Meeting for continued operating budget review (if needed)
December 10, 2024: Board Adoption of Budget, Levies, and Abatements
Report
The meetings pertaining to and leading up to the adoption of the FY25 budget will include a review of the major Funds (i.e. General, Parking, Water/Sewer, Health Insurance, and Self-Insured Retention Funds).
The capital improvement project funds were thoroughly discussed on September 11th, September 26th and October 16th and the CIP Document is scheduled to be presented to the Village Board on November 12th for formal adoption. Please note that the first budget year (2024) of the five-year capital plan has been incorporated into the operating budget document.