Northbrook board approves budget; Northbrook Court plan on the way

Northbrook will be spending just under $6 million to address renovations at the fire department headquarters, police station and a public works fleet garage in the village's fiscal year 2023-24 budget.

Trustee Bob Israel, chair of the Administration and Finance Committee, presented the budget during a public hearing April 11 at village hall.

The committee previously reviewed a draft budget on March 14. The total budget of expenditures for all of the village's 14 funds is $114,672,588. It was approved Tuesday by the village board with no public comment and is effective May 1 through April 30, 2024.

The village's general corporate fund revenue totals $51,209,365. It is projected to have a deficit of about $1.1 million, yet the estimated fund balance remains more than $2.2 million above the village's policy of having 40% unrestricted revenue.

The deficit, which the village attributes partially to deferring one-time capital expenditures from the 2022-23 budget because of supply chain and workload issues, does not require any debt issuance.

It's projected the general fund will see a surplus of about $133,000 for fiscal year 2024-25 with reserves at the end of the period closer to 44.5% of revenues.

Wages and benefits make up about 75% of the general fund expenses, which the village said is consistent with past practice.

Planned as part of the 2023-24 budget, on March 14 the board abated a portion of the 2022 property tax levy, reducing the levy for debt service by more than $7 million.

Facilities work encompassing Fire Station 11 ($1.5 million), the Northbrook Police Station ($2.8 million) and public works maintenance garage ($1 million) is among the larger capital expenses included in the 2023-24 budget. Water main projects estimated at about $5.8 million and street and sidewalk maintenance of more than $4.3 million are the other big-ticket items.

Village President Kathryn Ciesla also provided an update on Northbrook Court on Tuesday.

Though trustees approved a fourth amendment, or extension, to the redevelopment and economic incentive agreement with mall owner Brookfield Properties, Ciesla said developers are scheduled to present a plan to the board at its April 25 meeting for the 17-acre former Macy's parcel.