Elk Grove Village annually adopts a budget to guide the financial operations of the Village. The Village operates on a May 1 – April 30 Fiscal Year.
On April 26, 2016, the Mayor and Village Board approved the Fiscal Year 2017 Budget in the total amount of $118,807,220. The General Fund budget, which contains most of the Village's traditional services such as Fire, Police and Public Works, was approved at $57,429,497.
Elk Grove’s economy remains vibrant. Several major businesses are in the development pipeline. The industrial occupancy rate stands at 95%, a rate not seen since prior to the last recession. Sales taxes and permit revenues remain strong. Late last year, the Village heavily promoted the “Makers Wanted” campaign across multiple media platforms. Those platforms included radio ads, television ads, print ads, and bill board ads. As a result, revenue growth is strong and the General Fund has experienced surplus balances for the past several years. While we appreciate less-trying economic times, the Mayor, Village Board, and Department Heads continually explore innovative methods of delivering services in a cost effective manner. On a continually positive side, the Village will experience a robust 60th Anniversary celebration and considerable capital improvements.
In keeping with the Village’s commitment to high and consistent standards, the Fiscal Year 2017 Budget was guided by the goal of enhancing customer service for both residents and the Village’s business park. To that end, the recommended budget represents a value driven approach designed to increase the Village’s flexibility to continue enhancing customer service. Over the past several fiscal years, the Village has laid the foundation for these initiatives.
The Fiscal Year 2017 Budget will continue build upon these efforts and also includes numerous capital project initiatives as the Village works to continue repairing and improving infrastructure systems. Notable projects taking place in the coming months include storm sewer enhancements and rehabilitation, street resurfacing, and concrete curb replacement.
Other projects of note include the migration to "Live Read" water meters in the residential area as a customer service enhancement. The Police Department will also be modernizing their fleet through the replacement of 2 marked police squad cars and one unmarked police vehicle. Other fleet upgrades include the planned replacement of an ambulance for the Fire Department.The Fiscal Year 2017 Budget also includes a continuation and expansion of community events including the Mid-Summer Classics Concert series that will feature Foreigner performing a special 60th Anniversary concert on July 16, announcement of the Car Raffle winner, fireworks displays and the annual Holiday Tree Lighting Ceremony.