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  • Historical

    Since the Village began comparing ourselves to similar communities ten years ago, it has consistently operated as one of the leanest in the area. You can review an in-depth peer study which compares revenues, staffing, services, and per capita expenses here.  Communities are selected for this comparison because of their size, location, demographics, and more. Of course these communities will not be exactly like us, for example we are the only community in the study who does not levy a property tax, but they help provide context on the region.

    We are about average in population, square feet, median home value, median household income, police expenditures per capita, and employees per capita. However, we are second from last in expenditures per capita meaning we complete many of the same operations as our peer communities, with a similar amount of employees, while spending less money than most.

    The Village has accomplished this without a property tax or general obligation debt largely because we have had strong sales tax revenues.

     

    The Village continuously monitors revenues and must analyze the most recent revenue trends before drafting the FY 19 budget (Fiscal Year May 1, 2018-April 30, 2019). Earlier this fiscal year, FY 18 (May 1, 2017-April 30, 2018) staff reviewed revenue reports and confirmed the Village was trending $2.7 million below anticipated revenues. We determined the top three causes of this revenue shortfall are:

    1. Loss of major retailers Office Depot and Village Market Place (Office Depot no longer records its internet sales in Carol Stream)
    2. A new “collection fee” from the state of Illinois on home rule sales tax receipts
    3. The state of Illinois reducing the amount of income tax dollars we receive

    The FY 18 budget had a built in $1.5 million surplus which was intended for capital projects. The entire budgeted surplus was the first buffer for the loss in revenue. To offset the continued loss of revenue, staff and the Village board selected $1.4 million in cuts and holds to prevent a deficit for FY 18. While these actions were able to balance the FY 18 budget, many cannot be continued without consequence. For example if the Village continues to defer equipment replacements or rehabilitation projects the wear and tear and maintenance costs will increase and could ultimately cost the Village more money as well as reduced service while the equipment is being repaired.

    Looking Forward

    The revenue losses experienced in FY 18 are expected to continue creating a new, more difficult economic environment for the Village of Carol Stream. The first budget draft for FY 19 projected a $1.56 million deficit. The Village Board and staff determined that without new revenue, the Village would have to make cuts to service.

    The Mayor, Village Board, and staff again looked for cuts and holds to reduce the budget and selected almost $650,000 including training, police vehicles, keeping open positions vacant, delaying hiring of two police officers, reducing tree plantings, and more.

    Due to the continued loss of revenue, the Mayor, Village Board and staff must work together to address these situations. Staff will be bringing before the Village Board a 0.25% increase in the home rule sales tax. This increase will make us more comparable to many of our peers. Only 3 of 10 of our comparable communities will have a lower home rule sales tax rate than the Village. The home rule sales tax increase will not apply to titled vehicles, qualifying food, drugs and medical appliances. The Village will continue reviewing the budget over the next two months. If you have questions or concerns regarding the Village’s Budget process you are welcome to attend a Village Board meeting or contact us at This email address is being protected from spambots. You need JavaScript enabled to view it. or (630) 871-6250. A meeting schedule is below.

    Tentative Schedule

    Tuesday, February 20, 2018

    Review sales tax data from Illinois Department of Revenue (Aug. to Nov. sales)

    6:00 PM Budget Workshop- General Fund Detail

    Monday, March 5, 2018

    6:00 PM Budget Workshop- Capital Improvement Program

    7:30 PM Village Board Meeting- Ordinance Increasing Home Rule Sales Tax

    Monday, March 19, 2018

    6:00 PM Budget Workshop- Water and Sewer/ Other Funds

    7:30 PM Village Board Meeting- Ordinance Imposing Local Motor Fuel Tax

    Friday, March 30, 2018

    Draft FY 19 Budget given to Village Board and available for public review in the Village Clerk’s Office and Village website

    Monday, April 16, 2018

    7:30 PM Village Board Meeting- Public Hearing and Adoption of FY 19 Budget and FY 19-21 Financial Plan

       

     

           
     
    Home About Carol Stream News Archive Carol Stream FY 2018-2019 Budget

     

    500 North Gary Avenue | Carol Stream, Illinois 60188 | Phone: (630) 665-7050 | TDD: (630) 668-5785 | Fax: (630) 665-1064