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Review of the Recommended Five-Year Capital Improvement Plan (CIP) for FY 2027-2031 for the Parking Fund, Water/Sewer Fund, Motor Fuel Tax Fund, and CDBG
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Introduction
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This is the first in a series of annually scheduled Village meetings to prepare for the Capital Improvement Plan for the 2027 fiscal year budget. The first session focuses on Special Revenue and Enterprise funds that include capital projects in their budget. A second Finance Committee meeting will review the four main Capital funds to complete the CIP review.
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Recommended Action
Review the attached inventory of projects and fund overviews to provide feedback on project sequencing in 2027 and through 2031, and recommend advancement to the Village Board.
Prior Board Action
There is no prior Board action associated with the proposed FY 2027–2031 CIP.
Background
The Village updates its 5-year schedule for capital projects annually through its Capital Improvement Plan (CIP). This is a supplemental document supporting the annual Operating Budget, focused on multi-year capital expenditures, which can be located in the main budget under the category “Capital Improvements.”
“Capital Improvements” are higher-dollar projects (typically $10,000+ value per unit) with a useful life of multiple years or decades. They can include new buildings, renovations, streets, water mains, sewer improvements, land acquisitions, major equipment purchases, and more.
Capital projects are budgeted within one of four Capital funds:
3012 – Building Improvement Fund
3029 – Equipment Replacement Fund
3032 – Fleet Replacement Fund
3095 – General Improvement Fund (Main CIP)
Additional capital projects are classified within the Village’s Enterprise and Special Revenue Funds, which are the focus of this initial meeting:
2038 – Motor Fuel Tax Fund
2083 – Community Development Block Grant (CDBG) Fund
5040 – Water/Sewer Fund
5060 – Parking Fund
The 2026 CIP may be found here: htt...
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