Budgets and Capital Planning

The Village of Schaumburg strives to provide up to date and detailed financial information. This can be difficult given the complex nature of village operations and accounting requirements. If you are interested in a specific aspect of your local government and its finances the best thing to do is contact us directly. However, we also are interested in providing you an overview of the village's finances here to help you understand the fiscal condition of the village.


Annual Budget

The FY 2018/19 budget has total revenues and other financing sources (OFS) of $241 million and projected total expenditures and other financing uses (OFU) of $252 million. Compared to the FY 2017/18 Amended Budget, revenues and OFS are up 1.4%, and expenditures and OFU are down 2.2%. Revenues are up primarily due to projected property tax increment to be received from the North Schaumburg TIF, successful collection of fines from distracted driving and administrative adjudication, and investment income. The expenditure decrease for FY 2018/19 is primarily due to reducing the excess equity transfer from the General Fund which was over $11 million last year and is $2 million this year. 


Capital Improvement Plan (CIP)

Schaumburg's Capital Improvement Plan (CIP) is a multiyear plan covering a five year period that helps the village budget for and schedule necessary capital improvement projects.  This plan also sets the proposed capital expenditures for the fiscal year budget.  The proposed CIP addresses repair and replacement of existing infrastructure as well as the development or acquisition of new facilities, property, improvements and major equipment to accommodate community and organizational needs.