Schaumburg's Budget Builds Upon Resident Feedback Received from National Citizen Survey
The Village of Schaumburg's proposed Fiscal Year (FY) 2017/18 budget will focus on priorities that were defined by residents in the 2016 National Citizen Survey. The budget will enhance community engagement and communications, invest in infrastructure, improve mobility, ease the cost of living and promote economic development.
Members of Schaumburg's village staff will present the proposed FY 2017/18 budget to the Village Board at the Committee of the Whole meeting on Tuesday, April 18. The budget is expected to be formally adopted at the Tuesday, April 25 Village Board meeting.
The FY 2017/18 budget has projected total revenues and other financing sources of $243 million and projected total expenditures and other financing uses of $254 million. The difference between revenues and expenditures is primarily due to the one-time $36 million bond sale that was executed in 2016 for capital improvements in the North Schaumburg TIF. Despite expenditures increasing 3 percent to accommodate infrastructure improvements and pension expenses, the budget does not include any new taxes for residents.
"The village has always budgeted responsibly and conservatively and continues this trend with the FY 2017/18 budget," said Director of Finance Lisa Petersen. "The village has developed a spending plan with conservative revenue expectations and reasonable expenditures to guarantee the residents and businesses of Schaumburg continue receiving the exemplary service they have come to expect from their local government."
The General Fund, which is the village's main operating fund, has projected revenues (without transfers) of $101 million and projected expenditures (without transfers) of $90 million. Transfers out of the General Fund total $19 million and include a planned transfer of excess reserves to the Capital Improvement Program for a significantly expanded local street repair program. Other transfers include funds for the refuse and recycling program for Schaumburg residents and to support the Schaumburg Transit Program, including Dial-A-Ride Transportation, the Woodfield Trolley, and other local transit services.
Priorities identified by residents in the 2016 National Citizen Survey include improvements to village streets and other infrastructure. The village's Capital Improvement Plan addresses this priority and outlines $57 million in capital improvements-the largest such plan in the village's history-of which $40 million will be funded by the village. The plan, which was approved January 10, includes a 33 percent increase in funds dedicated to local residential street repair, increasing the total program to $8 million per year for the next five years.
Several high profile projects kick off this summer. Projects include improvements to Wise Road from Roselle to Irving Park roads; the realignment of Bethel Lane to enhance pedestrian and motorist safety; and improvements to the intersection of Roselle and Schaumburg roads. The village's annual street improvement program will also include 14 miles of preventative maintenance efforts to prolong the useful life of roadways, 6 miles of resurfacing, and 4 miles of reconstruction on village-maintained roads.
Aside from capital improvements, the budget focuses on enhancing community engagement and communications by continuing to fund a village-wide branding and marketing study that is underway and expanding its Communications Division to further increase communication efforts regarding village programs and services.
Improving mobility is also highlighted in the budget with the addition of a traffic signal optimization study for various areas of the village. Funding is also earmarked to design a bike and pedestrian bridge along Roselle Road to connect with the Paul Douglas Forest Preserve; build a bike path along Golf Road to connect the existing path on Roosevelt Boulevard to the Busse Woods Forest Preserve east of I-290; and design of additional bike paths along Higgins Road and Rodenburg Road.
Other budget highlights include completing an update to the village's Comprehensive Plan that was started in 2016; Master Planning for future development on the east side of Meacham Road within the North Schaumburg TIF District; and making improvements to village buildings and water system infrastructure that will maximize efficiencies and save energy costs.
"The village continues to look forward and implement measures that will set Schaumburg apart from other communities and maintain a level of service that cultivates a high quality of life," said Village Manager Brian Townsend. "The village is implementing projects and infrastructure improvements that correspond directly with feedback we received from residents."
The annual budget is a policy document that sets the financial course for the village and defines the service priorities for the community. It is the culmination of months of effort by the entire village staff to balance available resources with the services provided to Schaumburg residents, businesses and visitors. For more information, visit the Village of Schaumburg website at http://bit.ly/2cZqm0p or contact Lisa Petersen, Director of Finance, at lhapp@villageofschaumburg.com or dial 311 in Schaumburg.