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FY2027 Budget Development & Fiscal Plan
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Introduction
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The purpose of this item is to introduce the proposed FY2027 Budget & Fiscal Calendar to the Finance Committee. The calendar establishes the working schedule for the Village's FY2027 operating budget, capital planning, financial policy discussions, major revenue and fee reviews, debt and capital financing strategy, utility funding considerations, department presentations, and final budget and levy adoption milestones. This discussion is intended to align expectations early in the process and provide a transparent roadmap for how the FY2027 budget will be developed, reviewed, and ultimately presented for Village Board action.
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Recommended Action
Staff recommends that the Finance Committee review the proposed FY2027 Budget Calendar, provide feedback on the proposed meeting cadence and discussion sequence, and use the calendar as the framework for organizing the Committee's work during the calendar year 2026 budget development cycle for the FY2027 Budget. No formal Finance Committee action is requested as part of this Finance Committee discussion item.
Prior Board Action
The Village Board has previously taken actions that inform the FY2027 budget process, including approval of the Baker Tilly Strategic Financial Forecast, the BS&A Cloud migration, and the Finance Department's broader modernization and capacity-building initiatives. The attached calendar also anticipates future Board discussions and actions related to financial policies, the comprehensive fee schedule, debt and capital financing strategy, the Capital Improvement Plan, the FY2027 Budget, and the tax levy.
Background
The FY2027 Budget Calendar is designed to move the Village from early policy framing and financial forecasting into detailed departmental review, Manager's Draft preparation, Finance Committee review, public hearings, and final Board consideration. The calendar begins with th...
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