Village Releases Capital Budget

by Kathy Savolt -

At the May 26, 2026 meeting of the Board of Trustees (BOT), Village Manager Kathleen Gill presented the $13.38 million Capital Budget for fiscal year 2026-27.  This amount is a portion of over $42.8 million in total projects expected to be undertaken over the next several years.  This commitment reflects the administration’s  commitment to flood mitigation, pedestrian safety and public safety.

Background

Using a Power Point presentation (see HERE), Gill briefly explained what a capital budget is, its purpose and the priorities used to develop the budget which included public safety, legal requirements and infrastructure improvements.  She also summarized how capital projects are funded: bonds (debt), grants, Government aid, Use of Reserves and accessing the Water or Sewer Funds when appropriate.  Gill also introduced the idea of a new Stormwater Fee but did not go into any detail other than to note it is “under consideration.”

FY 2026-27 Details

The budget includes 61 separate line items ranging from $8,400 for air conditioning units for the IT office to multi-million-dollar, multi-year projects addressing flood mitigation.

Capital spending for FY 2026-27 breaks down as follows:

Category	Amount $ in millions	% of Total
Pedestrian Safety and Traffic	$3.63	27%
Flood Mitigation	3.48	26%
Public Safety	2.89	22%
Parks/Facilities	1.31	10%
Public Works	1.25	9%
All Other	0.81	6%
Total	$13.38	--

Spending must be matched with funding and Gill proposed meeting these needs with $10.6 million from grants and the remaining $2.8 million from the Village reserve funds.  There is no plan to issue debt to cover the 2026-27 capital projects which is now the second year in a row without adding new debt.  Reportedly, questions from the rating agencies after large increases in Village borrowing have led to this practice.  See previous reporting on this issue HERE.

During the Public Hearing, Len Aubrey, Chair of the Village Budget Advisory Committee, addressed the BOT with two concerns.  The first was funding and the second was the ability of the Village to manage a capital program of this size.  Aubrey stressed that the right talent and skills are needed to complete all these projects on a timely basis and within budget.

The FY 2026-27 budget was presented as part of a four year Capital Plan that totals $42.8 million.  The years 2027-2030 are just a plan and must be approved by a vote of the BOT.  It is necessary, however, to plan for the completion of the larger projects currently underway and those beginning next fiscal year.  In the overall plan, 45% of the funds are related to flood mitigation, 22% are for pedestrian and traffic safety and the third largest category is parks at 14%.

The Public Hearing on the Capital Budget will resume at the June 8, 2026 BOT meeting.

Editor’s note: Mr. Aubrey is the spouse of the author of this article.