Buffalo Grove passes $80.8 million budget, gears up for infrastructure expenses
Buffalo Grove trustees on Monday approved the village's next budget, but that isn't the end of the story for the town's 2020 spending plan.
Trustees plan to amend the budget in January to tackle infrastructure issues that, according to Trustee Joanne Johnson, "no board before this one has addressed."
The amendment will include a possible $24 million bond issue to fund water, sewer and street improvements.
"Up to this point, we have had to pay for these repairs out of our operating budget, taking away money that could have been used for other services," Johnson said.
The spending plan passed Monday calls for a total of $80.8 million in expenditures, a 3.6% hike over the 2019 budget. The village expects to collect $85.7 million in revenue next year, a 3.9% increase.
Trustee Lester Ottenheimer III said the village has faced unprecedented budget challenges, in part due to less funding coming from the state.
"I think the village has kept its taxes as low as possible," he said. "We did this while continuing to deliver superior village services, shrinking the size of our government, building our reserves, and keeping our commitments to the pension funds. That has not been an easy job."
Johnson noted that the added spending in the budget approved Monday covers only pension obligations, debt service and construction costs for the Lake-Cook Road and Weiland Road projects.
"After these mandated, or dictated, costs, we are left with a flat budget, in comparison to the 2019 budget," she said.
"What this also means is there are no new or expanded services for our residents. It's status quo," Johnson added.
Trustee Andrew Stein cast the only vote against the budget. He previously voiced reservations over cost-of-living salary hikes for employees, saying he would prefer merit increases only.
As part of the budget, trustees Monday also approved a $17.1 million property tax levy, a 3% increase.