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Home My WebLink AboutT12-25 Ordinance No. T12-25 AN ORDINANCE ADOPTING THE 2026 BUDGET IN LIEU OF PASSAGE OF AN APPROPRIATION ORDINANCE WHEREAS, the City Council of the City of Elgin has provided for the preparation and adoption of an annual budget in lieu of passage of an appropriation ordinance for the fiscal year 2026; and WHEREAS, a tentative annual budget has been prepared, notice given and a tentative annual budget made available for inspection for at least seven days; and WHEREAS, the City Council of the City of Elgin, Illinois, has examined said annual budget and has heard all persons appearing and desiring to be heard concerning said annual budget. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ELGIN, ILLINOIS: Section 1. That the tentative annual budget heretofore prepared by the budget officer and placed on file as required by statutes of the State of Illinois is hereby adopted in lieu of the passage of an appropriation ordinance for the fiscal year 2026 and is attached hereto. Section 2. That the budget officer is hereby authorized and directed to cause to be prepared and published the 2026 annual budget. Section 3. That this ordinance shall be in full force and effect from and after January 1, 2026. David J. Ka in, ayor Presented: December 17, 2025 Passed: December 17, 2025 Vote: Yeas: 8 Nays: 1 Recorded: December 17, 2025 x:- Published: December 17, 2025 fi* 1MI .,, Att t: .4�' \.34.imberly Dewi , C' Clerk ` T ` ? Combined Budget i= Table of Contents Combined Budget Revenues by Fund Type Historical and Budgeted Revenue by Fund Type $600M $400M $377M $390M $391M $391M $200M i 0 FY2023 FY2024 FY2025 FY2026 • Capital Project * Debt Service Enterprise • Fiduciary General Fund • Internal Service • Riverboat Fund • Special Revenue 2026 Revenues by Fund Type • Capital Project $13,034,640 3.33% • Debt Service $1,973,150 0.50% Enterprise $52,429,590 13.39% • Fiduciary $56,347,990 14.40% General Fund $181,219,760 46.30% • Internal Service $30,275,890 7.73% • Riverboat Fund $11,253,300 2.87% • Special Revenue $44,893,550 11.47% Revenues by Fund Type Category FY 2024 Actual FY 2025 Budget FY 2025 Estimate FY 2026 Budget General Fund $174,472,160 $176,843,030 $177,730,060 $181,219,760 Special Revenue $46,934,416 $60,079,410 $44,204,980 $44,893,550 Riverboat Fund $11,293,195 $11,223,000 $10,791,930 $11,253,300 Debt Service $2,011,258 $1,975,500 $1,984,000 $1,973,150 ® 2026 Proposed Budget and Financial Plan I Elgin Page 4 Combined Budget iE Table of Contents Category FY 2024 Actual FY 2025 Budget FY 2025 Estimate FY 2026 Budget Capital Project $10,032,270 $10,628,520 $26,380,350 $13,034,640 Enterprise $59,424,064 $50,633,730 $63,311,740 $52,429,590 Internal Service $25,705,466 $27,170,310 $27,257,300 $30,275,890 Fiduciary $60,290,704 $52,753,340 $68,753,480 $56,347,990 Total Revenues $390,163,533 $391,306,840 $420,413,840 $391,427,870 Revenues by Fund Category FY 2024 Actual FY 2025 Budget FY 2025 Estimate FY 2026 Budget GENERAL FUND $174,472,160 $176,843,030 $177,730,060 $181,219,760 E911 TELEPHONE SYSTEM $2,110,275 $2,050,000 $1,895,500 $1,850,000 AMERICAN RESCUE PLAN $5,465,475 $874,610 $1,540,330 $2,000 COM DEV.BLOCK GRANT $592,091 $1,432,570 $1,200,630 $1,310,980 DRUG ASSET FORFEITURE $313,377 $335,000 $495,600 $310,000 CENTER CITY TIF $7,971,318 $25,211,090 $7,655,000 $8,084,390 ROUTE 20 TIF DISTRICT $193,818 $190,000 $229,800 $230,000 BLUFF TIF DISTRICT $1,530,927 $900,000 $1,498,700 $1,500,000 ELGIN RIVERBOAT $11,293,195 $11,223,000 $10,791,930 $11,253,300 IL MUNICIPAL RETIREMENT $9,859,682 $11,173,700 $10,974,780 $12,239,010 MOTOR FUEL TAX $5,986,938 $5,400,000 $5,921,990 $5,650,000 CEMETERY OPERATING FUND $710,675 $647,870 $726,490 $712,420 PARKS AND RECREATION $10,815,711 $10,382,040 $10,557,410 $11,359,240 SPECIAL RECREATION TAX $1,253,264 $1,425,000 $1,410,750 $1,598,000 CORPORATE BOND $2,011,258 $1,975,500 $1,984,000 $1,973,150 2022 GO BOND PROJECTS $241,415 $859,970 $31,000 - PARK DEVELOPMENT $1,075,842 $835,000 $274,600 $274,600 TYLER CREEK $53,908 $38,000 $45,550 $29,830 CAPITAL IMPROVEMENTS $8,559,180 $8,271,840 $9,136,580 $12,511,440 WATER OPERATING $41,544,206 $35,745,730 $47,602,130 $38,288,360 WATER DEVELOPMENT $478,677 $300,000 $416,400 $375,000 SEWER OPERATING $10,244,638 $6,265,000 $6,445,000 $6,701,800 SEWER DEVELOPMENT $1,154,188 $505,000 $768,110 $505,000 CEMETERY PERPETUAL CARE $130,864 $57,530 $98,000 $47,510 GOLF OPERATING $6,002,355 $7,818,000 $8,080,100 $6,559,430 EQUIPMENT REPLACEMENT $6,783,224 $7,396,610 $7,725,740 $8,646,610 RISK MANAGEMENT $4,360,452 $3,858,720 $4,301,840 $4,004,610 MEDICAL INSURANCE $14,561,790 $15,914,980 $15,229,720 $17,624,670 RETIREE MEDICAL INSURANCE $6,491,054 $4,098,740 $4,417,000 $4,308,900 POLICE PENSION $29,273,836 $27,897,220 $37,077,080 $29,805,370 FIRE PENSION $24,525,815 $20,757,380 $27,259,400 $22,233,720 2025 GO BOND PROJECTS - - $16,772,620 $99,000 2024 GO BOND PROJECTS $101,925 $623,710 $120,000 $119,770 Total Revenues $390,163,533 $391,306,840 $420,413,840 $391,427,870 ® 2026 Proposed Budget and Financial Plan I Elgin Page 5 Combined Budget e- Table of Contents Expenditures by Fund Type Historical and Budgeted Expenditures by Fund Type $600M $400M $386M $408M $350 M $303M rm.,'" .imminomom $200M 0 FY2023 FY2024 FY2025 FY2026 • Capital Project • Debt Service ( Enterprise • Fiduciary General Fund • Internal Service • Riverboat Fund • Special Revenue 2026 Expenditures by Fund Type • Capital Project $22,350,140 5.48% C. Debt Service $1,985,150 0.49% Enterprise $57,308,400 14.06% • Fiduciary $31,686,640 7.77% General Fund $190,036,720 46.62% • Internal Service $32,956,600 8.08% • Riverboat Fund $14,468,410 3.55% • Special Revenue $56,836,480 13.94% Expenditures by Fund Type Category FY 2024 Actual FY 2025 Budget FY 2025 Estimate FY 2026 Budget General Fund $165,169,974 $176,242,440 $184,119,640 $190,036,720 Special Revenue $50,963,673 $66,491,260 $49,423,320 $56,836,480 Riverboat Fund $12,845,121 $15,828,190 $18,082,450 $14,468,410 Debt Service $1,982,663 $1,987,500 $1,966,950 $1,985,150 Capital Project $9,535,386 $11,192,840 $35,876,290 $22,350,140 Enterprise $51,946,285 $55,888,630 $69,778,840 $57,308,400 Internal Service $28,236,980 $29,643,200 $29,639,230 $32,956,600 ® 2026 Proposed Budget and Financial Plan I Elgin Page 6 Combined Budget iE Table of Contents Category FY 2024 Actual FY 2025 Budget FY 2025 Estimate FY 2026 Budget Fiduciary $28,971,818 $28,960,190 $30,798,560 $31,686,640 Total Expenditures $349,651,901 $386,234,250 $419,685,280 $407,628,540 Expenditures by Fund Category FY 2024 Actual FY 2025 Budget FY 2025 Estimate FY 2026 Budget GENERAL FUND $165,169,974 $176,242,440 $184,119,640 $190,036,720 E911 TELEPHONE SYSTEM $2,801,391 $2,050,000 $1,925,790 $1,850,000 AMERICAN RESCUE PLAN $5,212,882 $874,610 $2,096,110 $391,180 COM.DEV.BLOCK GRANT $592,091 $1,432,570 $1,200,630 $1,310,980 DRUG ASSET FORFEITURE $313,377 $335,000 $495,600 $310,000 CENTER CITY TIF $11,284,032 $25,211,090 $6,950,940 $14,983,040 ROUTE 20 TIF DISTRICT $1,100,000 $190,000 - $719,380 BLUFF TIF DISTRICT $981,766 $900,000 $959,150 $1,500,000 ELGIN RIVERBOAT $12,845,121 $15,828,190 $18,082,450 $14,468,410 IL MUNICIPAL RETIREMENT $9,667,795 $11,173,700 $10,882,660 $12,239,010 MOTOR FUEL TAX $7,561,359 $10,750,000 $11,291,430 $6,300,000 CEMETERY OPERATING FUND $771,643 $1,022,290 $1,412,040 $1,108,750 PARKS AND RECREATION $9,923,976 $11,069,470 $11,538,230 $12,877,440 SPECIAL RECREATION TAX $698,057 $1,425,000 $635,080 $3,199,190 CORPORATE BOND $1,982,663 $1,987,500 $1,966,950 $1,985,150 2021 GO BOND PROJECTS $111,308 - - - 2022 GO BOND PROJECTS $3,781,854 $859,970 $1,384,530 $480,750 PARK DEVELOPMENT $281,231 $1,041,140 $1,281,850 $274,600 TYLER CREEK - $300,000 - - CAPITAL IMPROVEMENTS $5,360,994 $8,368,020 $12,418,350 $21,376,020 WATER OPERATING $39,143,972 $41,049,840 $52,012,150 $42,687,830 WATER DEVELOPMENT $536,537 $568,500 $765,310 $1,000,000 SEWER OPERATING $6,639,309 $6,060,220 $6,448,050 $5,773,760 SEWER DEVELOPMENT $82,357 $720,000 $8,900 $1,472,000 CEMETERY PERPETUAL CARE $55,304 $57,530 $35,660 $47,510 GOLF OPERATING $5,544,109 $7,490,070 $10,544,430 $6,374,810 EQUIPMENT REPLACEMENT $6,562,900 $7,927,890 $8,312,920 $8,872,090 RISK MANAGEMENT $7,474,652 $6,237,350 $6,275,490 $6,557,590 MEDICAL INSURANCE $14,199,428 $15,477,960 $15,050,820 $17,526,920 RETIREE MEDICAL INSURANCE $2,427,624 $2,486,400 $2,716,560 $3,045,420 POLICE PENSION $15,464,685 $15,431,540 $16,262,260 $16,490,580 FIRE PENSION $11,079,510 $11,042,250 $11,819,740 $12,150,640 2025 GO BOND PROJECTS - - $16,772,620 $99,000 2024 GO BOND PROJECTS - $623,710 $4,018,940 $119,770 Total Expenditures $349,651,901 $386,234,250 $419,685,280 $407,628,540 ® 2026 Proposed Budget and Financial Plan I Elgin Page 7