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Review of the Proposed Fiscal Year 2027 Budget
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Introduction
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This is a review of the proposed budget for fiscal year 2027, including both the operating and capital budgets.
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Recommended Action
There is no recommended action associated with this presentation. It is the first of three meetings of the Board of Trustees to review the proposed budget, provide for a public hearing, and adopt an ultimate version for the coming fiscal year.
Prior Board Action
The Board of Trustees annually reviews, provides feedback, and adopts an operating budget and capital budget for Village activities.
The FY26 budgeting process included the following activities by the Board of Trustees:
Initial review of the proposed budget on November 18, 2025 (ID 25-721)
Public hearing on the proposed budget on December 2, 2025 (ID 25-744)
Formal adoption of the budget on December 9, 2025 (ORD 25-220)
In 2026, Trustees have taken the following action(s) related to the budget:
July 28: The Board of Trustees received a report from Finance of the FY2027 budgeting process and preliminary fiscal outlook on (ID 26-471)
October 13: The Board of Trustees passed a resolution approving 2027 employee benefit plans, including health insurance budgeted out of the Health Insurance Fund (6028) (RES 26-268)
November 4: The Board of Trustees approved a motion to determine the estimate of the property tax levy for fiscal year 2027 to be included in a public notice of the Truth in Taxation hearing (MOT 26-251)
The Board also received an initial presentation in this meeting on the estimated tax levy amounts contained in the proposed budget and the historical context leading up the proposed amount from CFO Bueso.
Finance Committee reviewed the proposed operating budget in several sessions prior to this meeting:
October 29: operating budget presentations from VMO, Village Clerk, Law, and Human Resources
November 5: operating budget presentations from Neighbor...
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