A Look At The Village Of Glencoe's $28M Budget For 2021

GLENCOE, IL — The Village of Glencoe this week released a brief look at its 2021 budget, which focuses on conservative spending amid the coronavirus pandemic.

In a letter to the community, Village Manager Philip Kiraly said the budget was developed with the impacts of the pandemic in mind and includes a reduction in the village workforce but still allows for delayed salary increases for non-union workers. It also limits the fees and taxes the village levies when possible.

Kiraly also said the community in the springtime will vote on a $10 million General Obligation Bond measure to afford infrastructure needs over the coming three years.

Should the bond item pass, $4.1 million will be used to increase the capacity storm-sewer systems, $3.75 million (in addition to Motor Fuel Tax Funds) will be used for street resurfacing, $1.2 million will address the sanitary sewer system, $0.8 million will be used to improve sidewalks, and $0.15 will go to new and upgraded street lighting.

The upcoming year’s budget also allows for $3.6 million to be spent on capital and infrastructure costs. The funds, down from the 2020 budget, are drawn from water fund proceeds, user fees, general fund revenues and fund reserves, according to the brief.

According to the brief, the pandemic “deeply impacted” sales tax revenue, especially between June and August. Although sales tax revenues have rebounded in more recent months, the 2021 budget maintains a focus on conservative spending.

RELATED: Glencoe Hikes Taxes, Fees To Cover Revenue Lost To COVID-19

All told, the budget anticipates 2021 revenues of $28.18 million and expenditures of $29 million. The brief states the offset will be afforded by revenue saved from prior years.

A breakdown of the budget estimates 6.7 percent of the budget will go to debt service, 8.2 percent to the golf club fund, 12.3 percent to the water fund, 0.5 percent to the capital projects fund, 0.3 percent to the MFT fund and 71.9 percent to the general fund.

Of the general fund, some 46 percent will go to the public safety department, while public works receives 34.8 percent, the village manager's office receives 10.5 percent, and the finance department receives 8.1 percent.

The budget in brief can be read online.