As 2020 was a year like no other, the Village Council approached budgeting for 2021 in the spirit of accomplishing our established long-term goals for Winnetka, while acknowledging that we may need to adapt 2021 plans, as the COVID-19 pandemic required in 2020. We remain committed to our strategic priorities from a budgeting standpoint: moving the stormwater management initiative forward, supporting our business districts through improved infrastructure, providing essential Village services we each rely upon, and maintaining Village property and equipment to high standards.
For the seventh consecutive year, the Village will not seek a property tax increase and will only capture new growth in the community’s equalized assessed value. Existing taxpayers will not see an increase in the Village’s portion of the tax levy. The Village continues to reduce its share of each dollar that is collected from your property taxes. For context, in 1997, the Village property tax levy represented 17.23% of the total tax bill, compared to 12.59% in 2020.
In November, Village Council held four virtual meetings on the 2021 budget, which are available to view via YouTube: November 5, November 10, November 17, and November 19. A public hearing on the budget was held on December 1 with the intention of adopting the budget on December 15.
Thoughtful budget planning and financial stewardship, in partnership with our neighbors, is a stated priority of this Village Council and we appreciate your engagement with this process.
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Key Policies within our Budget
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- Balanced budget that relies on annual operating revenues to fund recurring operating expenditures.
- Stable and predictable revenue sources, including the tax levy, utility rates, and fees.
- Expenses are categorized and evaluated in the areas of operating, personnel, public safety pensions, and capital improvement.
- Retain the Village’s Aaa bond rating with a “stable outlook” and evaluate the existing obligation structure, current and projected operating surpluses, and future liability levels before issuing new debt.
- Follow our established fund balance/net assets policies to provide financial stability, cash flow for operations, and ensure that the Village can respond to emergencies with fiscal strength.
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Stormwater Initiatives
Intergovernmental agreements between the Village and New Trier District 203, Winnetka Public Schools District 36, and the Winnetka Park District were reached in 2019 and 2020, allowing the Village to move forward with engineering and permitting for stormwater detention and runoff infrastructure. In 2021, the Village intends to complete engineering design and permitting for the Cook County Forest Preserve portion of the project and commence construction. Engineering design for Phase I of the Duke Childs Field portion of the project will begin. Stormwater alternative evaluations will be performed for east Winnetka.
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Business District Revitalization
With West Elm streetscape improvements completed, the Village will pursue engineering and construction in east Elm in 2021, and move forward with design for Hubbard Woods. These improvements are an outcome of the Streetscape and Signage Master Plan which Village Council adopted in 2018.
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Infrastructure
Infrastructure improvements are critical for 2021 to allow the Village to continue to provide the same level and quality of service to residents, with key improvements to our electric plant, power grid, roadways, sidewalks, bridges, parking lots, sewers, and water mains.
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In sum, your Village Council is acutely aware of the challenges, financial and otherwise, associated with the COVID-19 pandemic. The proposed budget provides flexibility to adjust, if and as circumstances warrant, while moving forward with important initiatives that will benefit Winnetkans for years to come. Of course, we welcome any questions you may have.
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