View the 2026 budget.

2026 BUDGET Village of Union Grove 2026 Budget Acknowledgments Members of the Village Board Steve Wicklund Village President Sara Gloeckler Village Trustee #1 Kristy Boyle Village Trustee #2 Steve Peterson Village Trustee #3 Adam Graf Village Trustee #4 Jennifer Ditscheit Village Trustee #5 Eugene Bower Village Trustee #6 Appointed Officials Connor LaPointe Village Administrator Stephanie Kohlhagen Village Clerk/Deputy Administrator Renee Kelly Finance Director/Treasurer 2026 Budget Table of Contents Executive Summary 1-4 Strategic Goals & Objectives 5-10 Budget Summary 11-13 General Fund 15-24 Detail Revenue Budget 15-17 Detail Expenditure Budget 17-24 Recreation Fund 25-27 Special Revenue Funds 28-36 Revolving Loan Fund 29 Impact Fee Fund 30 Union Grove-Yorkville Fire Department 31-34 Graham Public Library 35-36 Debt Service Fund 37-38 Capital Improvement Fund and Plans 36-41 CIP Budget 40 Project Plan 41-43 Parks Replacement Plan 44 Capital Improvement Plan & Funding Uses 45-47 2026 Budget Table of Contents Tax Incremental Financing District (TID) Funds 48-52 Enterprise Funds 53-62 Water Utility Fund 53-57 Wastewater Utility Fund 58-60 Storm Water Utility Fund 61-62 Capital Improvement Plans 63-93 Appendices 94-124 Organizational Chart 95 Fund Balance Policy 96-97 Purchasing Policy 98-101 Capital Improvement Program Policy 102-105 Structurally Balanced Budget Policy 106-109 Procurement Card Policy 110-115 Investment Policy 116-124 Executive Summary 1 To Village President Steve Wicklund and Village Board of Trustees: I am pleased to present the Village of Union Grove Budget for the fiscal year beginning January 1, 2026. This year’s budget continues the Village’s commitment to strong municipal services, responsible long-term planning, and investments that support the quality-of-life residents expect. The levy for 2026 is $2,371,053, a 10.3% increase from last year, while the mill rate will drop from $5.60 to $4.56 due to growth in equalized value. The budget supports the Board’s priorities for the coming year: replacing outdated utility infrastructure, improving customer service, supporting employee retention and succession planning, and delivering the fire station project approved by voters. Together, these efforts strengthen the Village’s capacity to serve residents reliably and prepare for future needs. Maintaining Reliable Services Several operating areas will experience modest expenditure increases in 2026. The contract with the Racine County Sheriff’s Office increased 1.6 percent. Union Grove’s share of fire department operating costs increased 2.7 percent, reflecting the Village’s higher growth in equalized value relative to Yorkville. Wages and benefits increased 5.5 percent as part of the Village’s ongoing effort to retain employees and remain competitive. Garbage and recycling costs increased 3.1 percent due to additional residences being built in the Village and requiring collection service. Investing in Infrastructure The Village enters 2026 with a subs tantial capital program fo cused on safe roads, reliable utilities, and long-term system integrity. Major projects include: • 67 th Drive Reconstruction- A full reconstruction addressing pavement failure, drainage improvements, culvert replacement, and a new sidewalk connection to the White River State Trail, funded with LRIP aids and general obligation notes. • Hig h Street & 8th Avenue Reconstruction- Replacement of aging roadway and underground utilities, along with a new sidewalk linking nearby neighborhoods to Leider Park and the splash pad. These projects are supported by a combination of GO Notes and Revenue Notes. • Well #3 Tower Rehabilitation- A full exterior and interior recoating of the Well #3 tower to preserve the structure, prevent corrosion, and ensure reliable water service. Th ese projects are coordinated across departments to minimize future disruptions and protect the Village’s long-term investment in public infrastructure. 2 Strengthening the Organization The Village continues to emphasize employee development and succession planning. In 2025, several key positions were restructured or created, and 2026 is the first year these roles are fully funded. This includes an apprentice utility operator, a public works trainee, a deputy clerk/court clerk, and a deputy treasurer/utility clerk. The Deputy Clerk/Treasurer position was eliminated, reflecting the Village’s updated organizational needs. These changes improve service continuity, prepare staff for future leadership roles, and support the Village’s ability to meet resident expectations. Financial Sustainability and Long-Term Planning The 2026 Budget continues the Village’s transition toward long-range financial planning. The Financial Management Plan developed this year emphasizes steady levy growth, disciplined use of debt, and protecting the long-term stability of all major funds. The Village Board also placed a strong emphasis on mitigating future utility rate increases by controlling operating costs in the water fund and avoi ding e xpense le vels that co uld t rigger unnecessary adjustments in fut ure PSC r ate reviews. These steps, combined with careful debt structuring, fund balance management, and the use of both general obligation and revenue notes, help keep future budgets predictable and maintain the Village’s financial flexibility. Strong net new construction and steady development activity further support tax rat e s tability while positioning the Village to manage future capit al and utility needs responsibly. Improving Accessibility and Customer Experience The Village continues to expand tools that make local government easier for residents to navigate. Utility customers can now view their bills online through Xpress Bill Pay, and several Village services are available through online form submission on that platform. The Village also added the ability for customers to make card payments directly at the counter, an improvement from past practice when customers were asked to co mplete those transactions online even when paying in person. In addition, the Village’s full codification project is expected to be completed in 2026, giving residents a new, easy-to-use system for accessing Village ordinances. F ire Station Referendum In November 2024, Village voters supported a referendum authorizing the construction of a new fire station to serve Union Grove and Yorkville. The 2026 Budget reflects the first full year of debt service associated with the 2025 borrowing for this project, resulting in a $337,133 increase in debt service obligations. This facility addresses long-standing space, safety, and operational limitations at the current station and positions the department to meet modern service demands. Although the related debt is the most significant driver of the levy increase, it represents a community-directed investment in public safety and supports the Village’s long-term service goals. 3 U pdates on Development and Tax Increment Districts The Village continues to see stable growth and development activity. • TID 4 will be extended for three years to recoup increment for utility debt that was originally intended to be paid earlier in the district’s life. • TID 5 (Granary) developer incentives are fully paid, and the majority of increment now supports debt payments for infrastructure. • TID 6 (Dunham Grove) is fully built out, contributing stable, predictable increment. • T ID 7 (Canopy Hill Development) is entering Phase 3, adding utilities, 43 single-family lots, and three new public roads. T hese districts continue to support infrastructure, utility needs, and planned neighborhood growth. C onclusion The 2026 Budget reflects a Village focused on community, reliability, and thoughtful investment. It maintains essential services, supports the employees who deliver them, and advances infrastructure projects that will serve residents for decades. I appreciate the work of Village staff, the advisory Committees, and the Village Board for their role in shaping a budget that balances immediate needs with long-term stability. R espect fully Submitted, Connor La Pointe, V illage Administrator 4 S trategic Goals & Objectives 5 Strategic Goals The Village Board and administration are guided by five strategic goals that were adopted as part of “Vision 2030”: 1. Deliver quality municipal services in an efficient manner with an emphasis o n c ustomer service excellence. 2. Provide safe, functional, well-maintained and cost-effective public infrastructure and recreation amenities. 3. Protect the safety and security of residents, businesses, employees and visitors. 4. Foster a strong sense of community and maintain the Village’s “small town” character. 5. Encourage an attractive environment for business and commerce. 2025 Achievements Goal 1 – Deliver quality municipal services in an efficient manner with an emphasis on customer service excellence. Functional Unit(s)  Launched online utility bill access through Xpress Bill Pay. Utilities  Created a formal process and application form for deferred utility bill payments to assist customers facing short - term financial hardship. Utilities  Introduced online submission capability for several Village forms. General Government  Enabled card payments at the Municipal Center counter, improving convenience for in -person transactions. General Government  Made progress on the Village -wide codification project, setting up a more accessible online ordinance platform. General Government  Expanded internal financial management planning through completion of multiple Financial Management Pla n workshops. General Government  Updated the personnel policy to establish a formal pay scale system for all Village employees. General Government  Issued an RFP for garbage and recycling services, reviewed competitive bids, and selected a lower -cost option that will reduce future expenses. Public Works  Converted two vacant rooms into a small conference room and outfitted it with tables and chairs to support internal meetings and resident appointments. General Government  Updated the park and reservation policy to allow refunds under approved special circumstances, improvin g fairness and customer service for residents. Recreation & Parks 6 Goal 2 – Provide safe, functional, well-maintained and cost-effective public infrastructure & recreation amenities. Functional Unit(s)  Updated long-range capital project scheduling through the Financial Management Plan process. Infrastructure CIP  Completed road reconstruction on Center Street, 8th Avenue, 9th Avenue and High Street, including pavement replacement and upgrades to aged utility infrastructure. Infrastructure CIP  Rehabilitated the American Legion Park ball diamond with a new backstop, updated fencing, player benches, and refreshed infield materials, grading, and surface preparation to improve playability. Recreation & Parks  Opened the new splashpad at Leider Park, providing a major new recreational amenity for families. Recreation & Parks  Accepted a new public walking trail within the Canopy Hill development as part of the overall subdivision improvements Recreation & Parks  Resurfaced Municipal Center parking lot. Infrastructure CIP  Successfully appealed a $1.16 million drainage assessment from the Racine County Board of Drainage Commissioners, with the Wisconsin Court of Appeals ruling in the Village’s favor and overturning the charge. Utilities  Updated PASER ratings of all Village roads and update infrastructure plan accordingly. Public Works  Worked with Eagle Scouts program on bleacher project at American Legion Park. Recreation & Parks  Installed door access system at the Leider Park bathroom. Recreation & Parks Goal 3 – Protect the safety and security of residents, businesses, employees and visitors. Functional Unit(s)  Bid out the new joint fire station project and began construction in conjunction with the Village of Yorkville Public Safety  Established updated guidelines and permitting standards for the sale and use of fireworks, including ordinance revisions to improve safety and clarify allowable activities. Public Safety  Installed a Rectangular Rapid Flash Beacon at Main Street and 7th Avenue to improve pedestrian safety at the intersection. Public Safety  Implemented a new sidewalk maintenance program offering residents the option to address trip hazards through concrete shaving, with full panel replacements completed where necessary. Public Safety  Updated ordinances relating to alcohol, vaping and tobacco products. Public Safety  Completed an update of the Village’s Emergency Management Plan and presented it to the Emergency Management Committee. Public Safety Goal 4 – Foster a strong sense of community and maintain the Village’s “small town” character. Functional Unit(s)  Revised ban on dogs in Village parks, to allow them when leashed, improving accessibility for pet owners. Recreation & Parks  Approved an ordinance allowing residents to park recreational vehicles in their driveways, improving flexibility and clarity for homeowners. General Government  Began creating flyers to promote recreation programs and increase community participation Recreation & Parks  Installed pet waste stations in Village parks to improve cleanliness and support responsible pet ownership. Recreation & Parks  Provided staff resources and assisted with promoting the 4th of July parade and Union Grove Car Show. Public Works  Approved an agreement with a new yoga instructor to offer classes at the Municipal Center as part of the Village’s recreation programming. Recreation & Parks 7  Passed an ordinance allowing alcoholic beverages in a designated area during Village -approved events, supporting community gatherings and special activities. General Government  Passed an ordinance removing the annual renewal requirement for residential chicken -keeping licenses, making the permit a one-time approval for residents. General Government  Partnered with Union Grove High School for the annual “Bronco Give Back” event, where students and staff helped spread mulch at Village parks and assisted with painting at the DPW building . Recreation & Parks  Helped promote Shepherds College Week through public communication and community engagement efforts recognizing students, staff, and the college’s contributions to Union Grove. General Government Goal 5 – Encourage an attractive environment for business and commerce. Functional Unit(s)  Accepted Phase 2B infrastructure in the Canopy Hill development, which includes 44 single -family lots, and three public roads (Kiddle Lane, Hill Drive, and Valley Hill Lane) General Government  Approved the Final Plat for Canopy Hill Phase 2C, creating 43 single -family lots, and 3 new public roads (Hill Drive, Knollwood Lane, and York Street). General Government  Underwent a comprehensive downtown redevelopment planning process with the CDA, including stakeholder engagement, site analysis, and goal -setting to guide future revitalization efforts. General Government  Created additional downtown parking spaces to support local businesses and improve access for visitors. General Government  Approved a site plan for the York Town Center shopping center, supporting new commercial growth and reinvestment opportunities. General Government  Approved a plan of operation permit for a new bookstore at 1106 Main Street, contributing to a vibrant and active downtown. General Government  Approved a site plan for Byfuglien, Inc., an industrial facility locating on a property previously owned by the Village for decades and long seeking an appropriate redevelopment use. General Government 8 2 026 Objectives Goal 1 – Deliver quality municipal services in an efficient manner with an emphasis on customer service excellence. Functional Unit(s)  Launch updated online ordinance access following completion of codification project . General Government  Reconfigure the election setup at the Municipal Center to improve voter flow, reduce congestion, and create a more efficient and accessible experience on Election Day. General Government  Introduce more online application forms and payment options. General Government  Improve internal IT reliability and responsiveness, including addressing system downtime issues, improving VPN performance, and ensuring faster support response for staff. General Government  Strengthen financial reporting by reconciling internal account balances on a regular basis so that budget updates and reports to the Board reflect accurate, up -to-date information. General Government  Improve organization of Village records across all departments, including disposal of items past their retention schedule, and establish systems that make information easier to locate. General Government  Review and update purchasing thresholds to ensure the Village can carry out budgeted projects efficiently while maintaining appropriate financial controls and accountability. General Government Goal 2 – Provide safe, functional, well-maintained and cost-effective public infrastructure & recreation amenities. Functional Unit(s)  Complete reconstruction of 67th Drive, including drainage improvements and new sidewalk connection to the White River State Trail Infrastructure CIP  Begin reconstruction of High Street and 8th Avenue, including pavement, utilities and pedestrian improvements. Infrastructure CIP  Complete the Well #3 water tower rehabilitation . Infrastructure CIP  Continue the sidewalk program by addressing a new section of the Village, offering residents the option to correct trip hazards through concrete shaving, with full panel replacements completed where necessary. Public Works  Remove the abandoned railroad trestle over 67th Drive and regrade the trail to meet street level. Infrastructure CIP  Replace playground equipment at American Legion Park with modern, safe and accessible equipment to better serve children and families. Recreation & Parks  Operate the splashpad for a full season from Memorial Day through Labor Day Recreation & Parks  Develop a fleet maintenance calendar to ensure timely service, extend equipment life, and improv e budgeting for vehicle replacements. Public Works  Expand GIS field data collection and incorporate updated asset information into working maps to support planning, maintenance scheduling, and long -term infrastructure management. Public Works  Update impact fees so the cost of growth is shared appropriately by new development, supporting needed investments in parks, water infrastructure, fire services, and library facilities. Infrastructure CIP Goal 3 – Protect the safety and security of residents, businesses, employees and visitors. Functional Unit(s)  Oversee completion of the new fire station construction Public Safety  Install a new camera system at the Municipal Center and implement an access control system to improve building security and staff safety. Public Safety  Have a staff member attain Certified Playground Safety Inspector (CPSI) certification to improve safety oversight and compliance for park equipment. Recreation & Parks  Improve downtown street lighting to increase safety for evening visitors. Public Safety 9  Improve cybersecurity posture by conducting annual penetration testing, aligning security policies with insurance requirements, and tracking remediation actions through regular review. General Government  Develop an Election Day Emergency Response Plan to supplement the Village’s existing emergency management plan and improve preparedness during voting operations. General Government Goal 4 – Foster a strong sense of community and maintain the Village’s “small town” character. Functional Unit(s)  Support expanded recreation programming, including new offerings aligned with community interest. Recreation & Parks  Explore development of a pickleball facility at School Yard Park. Recreation & Parks  Support the community garden as it begins to operate, including coordination with volunteers and promotion through Village communication channels. Recreation & Parks  Enhance pedestrian access and parking near key community amenities, including Leider Park and the community garden, to support increased public use. Recreation & Parks Goal 5 – Encourage an attractive environment for business and commerce. Functional Unit(s)  Update welcome packet and checklist for new businesses. General Government  Improve downtown street lighting to support local businesses and enhance walkability. Public Works  Develop a strategy for the future use or redevelopment of the former fire station site to support community needs and economic activity. General Government  Advance planning and promotion efforts for commercial development opportunities. General Government  Begin implementing priorities identified in the Redevelopment Plan, focusing on actions that support reinvestment and downtown revitalization General Government 10 Budg et Summary 11 Village of Union Grove 2025 Adopted Budget 2026 Proposed Budget % Change REVENUES PROPERTY TAXES+MOBILE HOME FEES 1,518,998 1,595,048 5.0% INTERGOVERNMENTAL 932,599 983,375 5.4% LICENSES AND PERMITS 334,575 211,100 -36.9% FINES, FORFEITURES & PENALTIES 119,800 120,000 0.2% INVESTMENT INCOME 150,000 150,000 0.0% MISCELLANEOUS REVENUE 79,170 149,058 88.3% OTHER FINANCING SOURCES 165,000 165,000 0.0% Total Revenues 3,300,142 3,373,582 2.2% EXPENDITURES GENERAL GOVERNMENT 813,748 870,051 6.9% PUBLIC SAFETY 1,005,831 978,125 -2.8% PUBLIC WORKS 941,561 1,092,059 16.0% HEALTH & HUMAN SERVICES 11,140 11,300 1.4% CONSERVATION & DEVELOPMENT 12,000 12,000 0.0% OTHER FINANCING USES 322,486 310,408 -3.7% Total Expenditures 3,106,766 3,273,944 5.4% 2026 Budget Summary Budget Summary - General Fund Notice is hereby given that on Monday, November 10, 2025 at 6:00 P.M. at the Union Grove Municipal Center, 925 15th Avenue, a public hearing on the 2026 Proposed Budget of the Village of Union Grove will be held. The proposed budget in detail is available for inspection at the Village Clerk's office from 8:00 A.M. to 4:30 P.M., Monday through Friday. The following is a summary of the proposed budget. 12 Fund Balance 1/1/26 Total Revenues Total Expenditures Balance 12/31/26 Property Tax Contribution General Fund 2,083,371 3,386,082 3,386,318 2,083,134 1,582,048 Recreation and Parks Fund 48,736 63,300 52,050 59,986 - Library Fund 546,171 354,061 354,061 546,171 - Water Utility 2,840,194 3,446,317 3,651,783 2,634,728 - Wastewater Utility 4,736,223 2,554,250 2,723,517 4,566,956 - Storm Water Utility Fund 513,226 726,001 746,057 493,170 - Capital Projects Fund 3,813,154 2,241,500 2,201,741 3,852,913 93,000 Debt Service Fund 213,310 696,005 878,323 30,992 696,005 Impact Fee Fund 392,838 121,783 - 514,621 - Revolving Loan Fund 95,036 12,916 - 107,952 - TID #4 (Debt Service & Capital) 827,313 462,150 418,275 871,189 - TID #5 (Debt Service & Capital) (28,984) 263,590 246,685 (12,079) - TID #6 (Debt Service & Capital) 118,313 1,040,439 1,033,812 124,939 - TID #7 (Debt Service & Capital) (114,982) 914,661 901,943 (102,264) - Total 16,083,919 16,283,055 16,594,565 15,772,409 2,371,053 2025 Budget 2026 Budget Property Taxes Levied (TID-out) 2,149,174 2,371,053 Property Taxes Levied (TID-in) 2,086,792 3,081,073 Assessed Value 483,307,700 674,238,800 Village Tax Rate 5.60717 4.56971 Indebtness - General Obligation (1/1/26) 15,347,409 Projected Balances - Other Funds 13 General Fu nd 14 2026 Budget 12/31/2024 12/31/2025 9/30/2025 12/31/2026 General Fund Account Number Account Name 2024 Actual 2025 Budget 2025 YTD 9/30 2025 Projected 2026 Budget FINAL Difference '25 Actual to '26 Budg. % Chg '25 Budg. to '26 Budg. REVENUES Taxes 100-41110-000 GENERAL PROPERTY TAXES 1,349,804 1,505,998 106,760 1,505,998 1,582,048 1,475,288 105.0% 100-41140-000 MOBILE HOME TAX 17,234 13,000 9,967 13,000 13,000 3,033 100.0% Total Taxes Revenues 1,367,038 1,518,998 116,727 1,518,998 1,595,048 (1,478,321) 105.0% Intergovernmental 100-43410-000 SHARED REVENUES 615,727 557,123 83,569 557,123 576,065 492,496 103.4% 100-43415-000 EXPENDITURE RESTRAINT PROGRAM - - - - 0.0% 100-43420-000 Fire Insurance (2% Dues) 22,574 20,427 24,823 24,823 24,823 - 121.5% 100-43430-000 COMPUTER TAX LEVY 4,510 4,510 4,510 4,510 4,510 - 100.0% 100-43533-000 OTHER HIGHWAY AIDS 9,852 13,155 9,867 13,155 13,180 3,314 100.2% 100-43534-000 LOCAL TRANSPORTATION AIDS 193,322 296,427 222,320 296,427 323,849 101,528 109.3% 100-43545-000 RECYCLING GRANT 12,679 12,679 12,671 12,671 12,671 (0) 99.9% 100-43555-000 PERSONAL PROPERTY AID 6,584 18,502 18,502 18,502 18,502 - 100.0% 100-43560-000 VIDEO SERVICE PROVIDER AID 9,776 9,776 9,926 9,926 9,776 (150) 100.0% 100-43565-000 STATE EMERGENCY AID - - - - 0.0% Total Intergovernmental Revenues 875,025 932,599 386,187 937,137 983,375 597,188 64.0% Licenses & Permits 100-44105-000 LIQUOR LICENSES 10,689 12,500 8,900 8,850 8,400 (500) 67.2% 100-44106-000 OPERATORS LICENSES - 3,875 6,305 6,000 600 (5,705) 15.5% 100-44107-000 TOBACCO LICENSES - 1,200 1,250 1,250 1,100 (150) 91.7% 15 2026 Budget 12/31/2024 12/31/2025 9/30/2025 12/31/2026 General Fund Account Number Account Name 2024 Actual 2025 Budget 2025 YTD 9/30 2025 Projected 2026 Budget FINAL Difference '25 Actual to '26 Budg. % Chg '25 Budg. to '26 Budg. 100-44110-000 DOG & CAT LICENSES 2,696 3,000 2,295 2,300 3,000 705 100.0% 100-44115-000 OTHER LICENSES & PERMITS 46,531 4,000 25,410 30,000 14,000 (11,410) 350.0% 100-44120-000 BUILDING PERMIT FEES 314,267 275,000 236,603 275,000 150,000 (86,603) 54.5% 100-44125-000 TV FRANCHISE FEE 34,693 35,000 25,416 35,000 34,000 8,584 97.1% Total Licenses & Permits Revenues 408,876 334,575 306,180 358,400 211,100 (95,080) 63.1% Court Fines & Forfeitures 100-45110-000 COURT FINES & FORFEITURES 78,182 119,800 67,598 119,800 120,000 52,402 100.2% Total Court Fines & Forfeitures Revenues 78,182 119,800 67,598 119,800 120,000 52,402 100.2% Investment Income 100-48110-000 BANK & LGIP INTEREST 355,136 150,000 396,103 150,000 150,000 (246,103) 100.0% Total Investment Income Revenues 355,136 150,000 396,103 150,000 150,000 (246,103) 100.0% Miscellaneous Revenue 100-43300-000 OPIOID REVENUE 5,222 4,950 3,148 2,000 2,000 (1,148) 40.4% 100-48140-000 WEEDS/SNOW/ICE 7,738 5,000 (4,191) 5,000 5,000 9,191 100.0% 100-48165-000 COMMUNITY ROOM RESERVATION FEE 2,358 1,000 2,086 2,000 2,000 (86) 200.0% 100-48230-000 INSURANCE DIVIDENDS 3,210 3,000 3,529 3,529 3,000 (529) 100.0% 100-48425-000 MISCELLANEOUS 13,970 9,000 9,587 9,000 6,750 (2,837) 75.0% 100-48500-000 WATER UTILITY 5,000 5,000 5,000 5,000 5,000 - 100.0% 100-48505-000 SEWER UTILITY 5,000 5,000 5,000 5,000 5,000 - 100.0% 100-48510-000 STORM WATER UTILITY 5,000 5,000 6,000 6,000 6,000 - 120.0% 16 2026 Budget 12/31/2024 12/31/2025 9/30/2025 12/31/2026 General Fund Account Number Account Name 2024 Actual 2025 Budget 2025 YTD 9/30 2025 Projected 2026 Budget FINAL Difference '25 Actual to '26 Budg. % Chg '25 Budg. to '26 Budg. 100-48530-000 TID REIMBURSEMENTS 50,000 36,170 20,000 20,000 75,000 55,000 207.4% 100-48525-000 LIBRARY 10,000 10,000 10,000 10,000 10,000 - 100.0% 100-48720-000 RENTAL INCOME - 28,455 21,341 26,100 29,308 7,967 103.0% Total Miscellaneous Revenues 102,276 79,170 57,011 93,629 149,058 92,047 188.3% Parks Revenue 100-48151-000 SPLASH PAD SPONSORSHIPS - - - 4,000 2,000 2,000 100.0% 100-48155-000 Park Reservation Fees - - - 2,500 2,500 2,500 100.0% 100-46120-300 TRANSFER IN - PARKS IMPACT FEE - - - 15,800 8,000 8,000 100.0% Total Parks Revenue - - - 22,300 12,500 12,500 100.0% Other Financing Sources 100-48310-000 UTILITY TAX EQUIVALENT 170,992 165,000 165,000 165,000 165,000 - 100.0% Total Transfers In 170,992 165,000 165,000 165,000 165,000 - 100.0% Total General Fund Revenues 3,357,525 3,300,142 1,494,806 3,365,264 3,386,082 1,891,276 102.6% EXPENSES General Government Village Board 100-51100-110 VILLAGE BOARD SALARIES (50,902) (47,300) (35,313) 47,300 47,300 11,987 100.0% 100-51100-130 VILLAGE BOARD SOCIAL SECURITY (3,618) (3,618) (2,674) 3,618 3,618 944 100.0% 100-51100-300 VILLAGE BOARD EXPENSE - - - - 1,500 1,500 100.0% 17 2026 Budget 12/31/2024 12/31/2025 9/30/2025 12/31/2026 General Fund Account Number Account Name 2024 Actual 2025 Budget 2025 YTD 9/30 2025 Projected 2026 Budget FINAL Difference '25 Actual to '26 Budg. % Chg '25 Budg. to '26 Budg. Subtotal Village Board Expenses (54,520) (50,918) (37,986) 50,918 52,418 90,404 102.9% Municipal Court 100-51200-110 MUNICIPAL JUDGE SALARY (4,500) (4,500) (3,956) 4,500 4,500 544 100.0% 100-51200-130 MUNICIPAL JUDGE SOCIAL SECURIT (344) (344) (287) 344 344 57 100.1% 100-51210-300 COURT EXPENSE 2,496 (5,000) (3,553) 4,000 8,875 5,322 177.5% 100-51210-301 COURT FINES & FEES-PAYABLE - (39,800) (19,944) 39,800 40,000 20,056 100.5% 100-51210-302 COURT EDUCATION - (2,000) (2,861) 3,500 3,500 639 175.0% 100-51210-303 COURT SUPPLIES - (550) (380) 550 550 171 100.0% 100-51210-304 COURT POSTAGE - (600) (485) 600 700 215 116.7% 100-51301-200 COURT ATTORNEY (8,179) (20,000) (8,297) 15,000 20,000 11,703 100.0% 100-51302-110 COURT CLERK WAGES (38,529) (37,119) (27,106) 38,529 24,351 (2,755) 65.6% 100-51302-130 COURT CLERK BENEFITS (2,191) (5,951) (10,375) 15,000 15,783 5,408 265.2% Subtotal Municipal Court Expenses (10,527) (72,794) (39,762) 121,823 118,603 158,366 162.9% Legal 100-51300-200 ATTORNEY (30,354) (85,000) (26,287) 35,000 35,000 8,713 41.2% 100-51302-200 PERSONNEL ATTORNEY (11,976) (10,000) - - 5,000 5,000 50.0% 100-51900-000 OPIOID EXPENSE (2,827) (2,000) (3,896) 3,725 5,000 1,104 250.0% Subtotal Legal Expenses (42,329) (95,000) (26,287) 38,725 45,000 18,713 71.2% Administrative 100-51415-110 Administrator Salary (split w/TIDs) (64,666) (47,407) (38,921) 47,407 50,909 11,988 107.4% 18 2026 Budget 12/31/2024 12/31/2025 9/30/2025 12/31/2026 General Fund Account Number Account Name 2024 Actual 2025 Budget 2025 YTD 9/30 2025 Projected 2026 Budget FINAL Difference '25 Actual to '26 Budg. % Chg '25 Budg. to '26 Budg. 100-51415-330 ADMINISTRATOR TRAINING - - - - 5,000 5,000 100.0% 100-51427-110 Part Time Office Help (8,761) (19,000) (17,267) 17,270 6,000 (11,267) 31.6% 100-51427-130 PT OFFICE HELP SOCIAL SECURIT (919) (1,148) (467) 467 450 (17) 39.2% 100-51428-110 ADMIN ASST SALARY - (21,649) (11,261) 13,500 17,535 6,274 81.0% 100-51428-120 ADMINISTRATIVE ASST OVERTIME - (1,000) - 1,500 1,686 1,686 168.6% 100-51430-300 OFFICE SUPPLIES (21,206) (13,500) (11,768) 15,000 15,000 3,232 111.1% 100-51430-305 PAPER & COPY CHARGES - (3,100) (1,525) 3,100 3,500 1,975 112.9% 100-51430-310 SERVICE CONTRACTS (61,084) (10,000) (2,054) 10,000 10,000 7,946 100.0% 100-51430-315 PROFESSIONAL SERVICES (70) (31,000) (1,105) - 5,000 3,895 16.1% 100-51430-340 OFFICE EQUIPMENT LEASES (199) (4,000) (735) 4,000 4,000 3,265 100.0% 100-51430-360 COMPUTER SOFTWARE (5,163) (41,780) (47,744) 40,000 55,000 7,257 131.6% 100-51430-390 GEN GOV POSTAGE - (1,000) (1,090) 1,000 1,500 410 150.0% 100-51435-300 MEMBERSHIPS (5,663) (4,500) (1,159) 1,200 3,750 2,591 83.3% 100-51436-300 MISCELLANEOUS (24,848) (5,000) (6,269) 7,000 5,000 (1,269) 100.0% 100-51438-300 VILLAGE NEWSLETTER (4,486) (4,500) (2,746) 4,500 4,500 1,754 100.0% 100-51439-300 Web Page Maintenance (5,425) (6,000) (6,421) 6,000 6,000 (421) 100.0% 100-51930-200 INSURANCE - OTHER (LIABILITY) (27,748) (30,000) (29,513) 30,000 35,510 5,997 118.4% 100-51931-200 WORKERS COMP INS (8,217) (12,800) (3,992) 8,650 8,709 4,717 68.0% GENERAL GOV BENEFITS split between positions 148,000 (148,000) 82,787 Subtotal Administrative Expenses (238,454) (257,384) (36,037) 62,594 321,837 285,800 125.0% Finance Director/Treasurer 100-51416-110 TREASURER SALARY (73,173) (53,172) (45,740) 52,920 45,576 (164) 85.7% 19 2026 Budget 12/31/2024 12/31/2025 9/30/2025 12/31/2026 General Fund Account Number Account Name 2024 Actual 2025 Budget 2025 YTD 9/30 2025 Projected 2026 Budget FINAL Difference '25 Actual to '26 Budg. % Chg '25 Budg. to '26 Budg. 100-51416-330 TREASURER TRAINING - (5,000) (1,749) 5,000 5,500 3,751 110.0% 100-51417-120 DEPUTY TREASURER WAGES - (5,861) (3,629) - 6,330 2,702 108.0% 100-51417-125 DEPUTY TREASURER OT - (1,700) (12) - 1,826 1,814 107.4% 100-51417-330 DEPUTY TREASURER TRAINING - (2,500) (2,154) 1,500 2,500 346 100.0% 100-51580-200 INDEPENDENT AUDITING (41,504) (20,000) (11,300) 20,000 20,000 8,700 100.0% 100-51585-200 TREASURER CONTRACT SERVICES - (33) (2,689) 3,000 3,275 586 9924.2% 100-51520-000 BANK FEES (116) (1,200) (730) 500 500 (230) 41.7% Subtotal Treasurer Expenses (114,677) (88,266) (68,003) 82,920 85,508 17,505 96.9% Clerk/Elections 100-51420-110 CLERK SALARY (71,586) (59,755) (50,778) 56,150 50,147 (631) 83.9% 100-51420-290 CLERK-CONTRACTED SERVICES - (1,000) (750) 1,000 1,000 250 100.0% 100-51420-330 CLERK-TRAINING - (5,000) (2,675) 5,000 5,500 2,825 110.0% 100-51425-110 DEPUTY CLERK WAGES (13,889) (23,897) (26) 13,889 18,263 18,237 76.4% 100-51425-120 DEPUTY CLERK OVERTIME - (1,700) - 1,700 1,756 1,756 103.3% 100-51430-320 PUBLICATION (1,836) (4,500) (1,415) 2,500 4,500 3,085 100.0% 100-51430-330 RECORD CHECK - OPER. LICENSE (39) (200) (8) 50 100 92 50.0% 100-51440-110 ELECTION SALARIES (8,373) (10,500) (3,541) 3,550 12,500 8,959 119.0% 100-51440-130 ELECTION FICA - (804) - - 956 956 118.9% 100-51440-290 ELECTION-CONTRACTED SERVICES - (7,500) (2,917) 3,000 7,500 4,583 100.0% 100-51440-300 ELECTION EXPENSE (11,654) (3,700) (968) 3,700 3,700 2,732 100.0% 100-51440-310 ELECTION-OFFICE SUPPLIES - (3,000) (2,425) 3,000 3,500 1,075 116.7% 100-51440-320 ELECTION-PUBLICATION/PRINTING - (300) (230) 300 300 70 100.0% 20 2026 Budget 12/31/2024 12/31/2025 9/30/2025 12/31/2026 General Fund Account Number Account Name 2024 Actual 2025 Budget 2025 YTD 9/30 2025 Projected 2026 Budget FINAL Difference '25 Actual to '26 Budg. % Chg '25 Budg. to '26 Budg. 100-51440-330 ELECTION-TRAINING - (500) - - 290 290 58.0% 100-51440-390 ELECTION-POSTAGE - (600) (574) 600 900 326 150.0% Subtotal Clerk/Election Expenses (107,377) (122,356) (65,733) 94,439 110,912 45,180 90.6% Assessments 100-51590-200 ASSESSOR (23,597) (39,000) (20,845) 33,000 33,000 12,155 84.6% 100-51590-300 MANUFACTURING ASSESSMENT (1,190) (2,000) - 2,000 2,000 2,000 100.0% 100-51460-300 BOARD OF REVIEW (140) (500) (1,016) 500 500 (516) 100.0% Subtotal Assessments Expenses (24,926) (41,500) (21,862) 35,500 35,500 13,639 85.5% Municipal Center 100-51610-300 MUNICIPAL CENTER MAINTENANCE (23,628) (15,000) (13,606) 15,000 16,800 3,194 112.0% 100-51610-310 MUNICIPAL CENTER ELECTRIC (27,026) (33,005) (19,326) 33,005 38,150 18,824 115.6% 100-51610-320 MUNICIPAL CENTER GAS (8,711) (15,525) (8,692) 15,550 19,620 10,928 126.4% 100-51610-330 MUNICIPAL CENTER TELEPHONE (897) (3,000) (1,391) 3,000 4,000 2,609 133.3% 100-51610-331 MUNICIPAL CENTER INTERNET - (4,000) (1,228) 2,000 3,000 1,772 75.0% 100-51610-340 MUNI CENTER WATER/SEWER/STORM (1,636) (3,000) (2,296) 3,000 3,500 1,204 116.7% 100-51610-350 CUSTODIAL (9,032) (12,000) (7,681) 12,000 15,203 7,522 126.7% Subtotal Municipal Center Expenses (70,929) (85,530) (54,220) 83,555 100,273 46,053 117.2% Total General Government Expenses (663,739) (813,748) (349,889) 570,474 870,051 520,162 106.9% Public Safety 100-53200-110 CROSSING GUARD - WAGES (10,800) (8,640) (8,640) 8,640 6,480 (2,160) 75.0% 21 2026 Budget 12/31/2024 12/31/2025 9/30/2025 12/31/2026 General Fund Account Number Account Name 2024 Actual 2025 Budget 2025 YTD 9/30 2025 Projected 2026 Budget FINAL Difference '25 Actual to '26 Budg. % Chg '25 Budg. to '26 Budg. 100-54300-200 Building & Plumbing Inspection (224,093) (192,000) (142,041) 192,000 150,000 7,959 78.1% 100-54200-200 Sheriff Contract (478,516) (499,931) (331,723) 499,931 508,120 176,397 101.6% 100-54204-200 Fire Protection (296,369) (305,260) (226,533) 305,260 313,526 86,993 102.7% Total Public Safety Expenses (1,009,778) (1,005,831) (708,937) 1,005,831 978,125 269,189 97.2% Public Works 100-51595-200 Engineering (38,362) (15,000) (2,874) 15,000 15,000 12,126 100.0% 100-53300-110 STREETS - LABOR (212,421) (288,387) (210,016) 288,387 301,114 91,097 104.4% 100-53300-120 STREETS - LABOR - OT (2,427) (15,537) (4,986) 15,537 22,296 17,310 143.5% 100-53300-130 STREETS - BENEFITS (22,831) (112,747) (104,819) 119,845 143,035 38,215 126.9% 100-53320-300 PUBLIC WORKS TRAINING (905) (5,000) (5,315) 5,000 5,000 (315) 100.0% 100-53330-300 Street Supplies (57,339) (60,000) (34,159) 60,000 67,200 33,041 112.0% 100-53340-300 STREETS Equipment & Repairs (31,641) (50,000) (16,904) 50,000 56,000 39,096 112.0% 100-53345-300 SMALL EQUIPMENT & TOOLS (4,645) (5,600) (2,679) 5,600 6,200 3,521 110.7% 100-53340-301 Vehicle Fuel (8,074) (30,000) (9,415) 15,000 20,000 10,585 66.7% 100-53350-300 Snow Removal (9,522) (40,000) (28,175) 45,000 40,000 11,825 100.0% 100-53420-200 Street Lighting (48,160) (52,900) (30,102) 52,900 58,000 27,898 109.6% 100-53610-300 Public Works Building Maintena (10,778) (15,000) (11,062) 15,000 15,000 3,938 100.0% 100-53610-310 Public Works Electric (3,864) (5,980) (3,902) 5,980 6,520 2,618 109.0% 100-53610-320 Public Works Gas (2,971) (6,440) (2,471) 6,440 7,020 4,549 109.0% 100-53610-330 Public Works Phone & Internet (2,337) (2,000) (1,081) 2,000 2,500 1,419 125.0% 100-53620-200 Garbage Collection (170,633) (175,000) (129,930) 164,000 180,420 50,490 103.1% 22 2026 Budget 12/31/2024 12/31/2025 9/30/2025 12/31/2026 General Fund Account Number Account Name 2024 Actual 2025 Budget 2025 YTD 9/30 2025 Projected 2026 Budget FINAL Difference '25 Actual to '26 Budg. % Chg '25 Budg. to '26 Budg. 100-53620-201 Recycling (126,104) (153,000) (105,731) 112,000 146,755 41,024 95.9% Total Public Works Expenses (753,014) (1,032,591) (703,621) 977,689 1,092,059 388,439 105.8% Parks Expenses 100-55200-300 PARK SUPPLIES - - - 11,000 11,000 11,000 100.0% 100-55200-110 PARKS MAINT WAGES - - - 32,000 46,323 46,323 100.0% 100-55200-130 PARKS MAINT BENEFITS - - - 1,640 18,202 18,202 100.0% 100-55200-310 PARK ELECTRIC - 4,025 - 3,920 3,850 3,850 100.0% 100-55200-340 Parks Water, Sewer, Storm - 2,750 - 5,000 5,000 5,000 100.0% 100-55200-341 SPLASH PAD WATER - 20,000 - 35,000 20,000 0.0% 100-55200-342 COMM GARDEN WATER - - - - - - 0.0% 100-55210-300 Park Development - 5,000 - 5,000 8,000 8,000 100.0% 100-55230-300 Park Rental Refund - - - - - 0.0% 100-55341-300 Ball Diamond Maintenance - - - - 0.0% Total Parks Expenses - 31,775 - 93,560 112,374 Health & Human Services 100-54100-202 ANIMAL CONTROL (5,033) (5,140) (4,201) 5,200 5,300 1,099 103.1% 100-54100-300 Health & Safety (4,200) (6,000) (2,539) 6,000 6,000 3,461 100.0% Total Health & Human Services Expenses (9,233) (11,140) (6,740) 11,200 11,300 4,560 101.4% Conservation & Development 100-56300-000 PLANNER FEES (9,887) (12,000) (4,248) 12,000 12,000 7,753 100.0% Total Conservation & Development Expenses (9,887) 12,000 (4,248) 12,000 12,000 7,753 100.0% 23 2026 Budget 12/31/2024 12/31/2025 9/30/2025 12/31/2026 General Fund Account Number Account Name 2024 Actual 2025 Budget 2025 YTD 9/30 2025 Projected 2026 Budget FINAL Difference '25 Actual to '26 Budg. % Chg '25 Budg. to '26 Budg. Other Financing Uses 100-51439-200 Library Budget (163,592) (173,408) (173,408) 173,408 173,408 - 100.0% 100-55250-300 TRANSFER TO REC & PARK FUND (68,887) (70,000) (70,000) 70,000 - (70,000) 0.0% 100-59100-300 Transfer Out (76,728) (79,078) - - - (79,078) 0.0% 100-51437-300 CONTINGENCY FUND-expense - (100,000) - - 137,000 37,000 137.0% Total Other Financing Uses Expenses (309,207) (322,486) (243,408) 243,408 310,408 67,000 96.3% Total General Fund Expenses (2,754,857) (3,173,795) (2,016,842) 2,914,162 3,386,318 1,369,476 106.7% Net Income (Loss) 602,668 126,347 (522,036) 451,102 (237) Variances Explanation: 1. Increase in services & fees due to inflationary costs 2. New employees were added early 2025 after last budget was passed 3. Increase in employee wages & benefits 4. Increase in tax levy amount 24 Rec reation Fund 25 2026 Budget 12/31/2024 12/31/2025 9/30/2025 12/31/2026 Recreation Fund Account Number Account Name 2024 Actual 2025 Budget 2025 YTD 9/30 2025 Projected 2026 Budget FINAL Difference '25 Actual to '26 Budg. % Chg '25 Budg. to '26 Budg. REVENUES Recreation Revenues 200-46115-000 FUNDRAISING & DONATIONS - - - - - - 0.0% 200-46117-000 BASEBALL SIGNS - SCHOOL YARD 1,850 1,850 2,050 2,050 2,000 50 108.1% 200-46120-000 MISCELLANEOUS (INC YORK PYMT) 8,000 12,500 2,000 8,000 2,000 - 16.0% 200-46135-000 BASKETBALL FEES 55 25,000 36,550 25,000 37,000 (450) 148.0% 200-46133-000 YOGA 736 800 222 800 800 (578) 100.0% 200-46160-000 Flag Football - 1,300 - 1,300 5,000 (5,000) 384.6% 200-46150-000 SOCCER FEES 55 10,000 - 10,000 12,000 (12,000) 120.0% 200-46155-000 BASKETBALL CLINIC 890 1,000 - 890 1,000 (1,000) 100.0% 200-46156-000 SOCCER CLINIC 1,695 1,500 - 1,500 1,500 (1,500) 100.0% 200-46172-000 Self Defense Class 2,322 2,100 1,840 2,000 2,000 (160) 95.2% 200-46175-000 YMCA REVENUE 14,410 - 1,995 - - 1,995 0.0% 200-46176-000 CONCESSION STAND INCOME - - - - 0.0% Total Recreation Revenues 30,013 56,050 44,657 51,540 63,300 (18,643) 112.9% Total Recreation Revenues 30,013 56,050 44,657 51,540 63,300 (18,643) 112.9% EXPENSES General Recreation Expenses 200-55310-110 YMCA CONTRACT (27,736) (40,000) (13,953) 32,000 40,000 26,047 100.0% 200-55310-320 PUBLICATION - (150) - - 150 150 100.0% 200-55310-331 CELL PHONE (549) (700) (359) 600 700 341 100.0% 200-55311-300 SUPPLIES - - - - - 0.0% 200-55314-300 CONCESSION EXPENSES (1,015) - 40 - - 40 0.0% Total General Expenses (29,300) (40,850) (14,272) 32,600 40,850 - 100.0% Basketball Expenses 200-55320-300 BASKETBALL EQUIP & SUPPLIES - (500) (644) 650 700 57 140.0% 200-55323-300 BASKETBALL AWARDS & UNIFORMS (4,743) (5,000) (4,957) 5,000 5,000 44 100.0% Total Basketball Expenses (4,743) 8,000 (5,600) 5,650 5,700 13,700 -71.3% 26 Soccer Expenses 200-55330-300 SOCCER FIELD MAINTENANCE - (1,000) - - - - 0.0% 200-55331-300 SOCCER SUPPLIES & EQUIPMENT (206) (1,000) (933) 370 1,000 68 100.0% 200-55332-300 SOCCER AWARDS & UNIFORMS (2,437) (3,500) - 3,500 3,500 3,500 100.0% Total Soccer Expenses (2,643) (5,500) (933) 3,870 4,500 2,857 81.8% Flag Football Expenses 200-55380-300 FLAG FOOTBALL EQUIP & SUPPLIES (397) (500) - 500 500 500 100.0% 200-55381-300 FLAG FBALLL AWARDS & UNIFORMS - (400) - 400 500 500 125.0% Total Basketball Expenses (397) (900) - 900 1,000 504 111.1% Total RECREATION Expenses (6,078) (12,800) (1,865) 9,540 52,050 0.0% Total Expenses (37,082) (39,250) (20,804) 43,020 52,050 221.7% Net Income (Loss) (7,069) 16,800 23,853 8,520 11,250 27 S pecial Revenue Funds 28 2026 Budget 12/31/2024 12/31/2025 9/30/2025 12/31/2026 Revolving Loan Fund Account Number Account Name 2024 Actual 2025 Budget 2025 YTD 9/30 2025 Projected 2026 Budget FINAL Difference '25 Actual to '26 Budg. % Chg '25 Budg. to '26 Budg. REVENUES 225-48110-000 Interest on Investments 9,204 6,000 1,909 2,650 2,500 591 41.7% 225-48120-000 Interest Income from Loans - - - - - 0.0% 225-48134-000 Loan Receipts - 10,416 11,645 8,665 10,416 - 100.0% Total Revenues 9,204 16,416 13,554 11,315 12,916 (638) 78.7% EXPENDITURES 225-51300-200 Legal Fees - - - - - 0.0% 225-52711-300 Administrative Expense - - - - - 0.0% 225-56700-790 Matching Grant Program - - - - - 0.0% Total Expenses - - - - - - 0.0% Net Income (Loss) 9,204 16,416 13,554 11,315 12,916 29 2026 Budget 12/31/2024 12/31/2025 9/30/2025 12/31/2026 Impact Fee Fund Account Number Account Name 2024 Actual 2025 Budget 2025 YTD 9/30 2025 Projected 2026 Budget FINAL Difference '25 Actual to '26 Budg. % Chg '25 Budg. to '26 Budg. Note REVENUES 220-44600-000 Fire & Rescue Fees Collected 7,899 10,938 4,740 7,200 3,100 (1,640) 28.3% based on 25 new homes 220-44601-000 Park Fees Collected 27,814 38,511 16,848 28,000 10,700 (6,148) 27.8% based on 25 new homes 220-44602-000 Library Fees Collected 10,421 14,429 6,092 8,818 4,008 (2,084) 27.8% based on 25 new homes 220-44603-000 Water Fees Collected 35,451 49,086 21,271 32,000 100,275 79,004 204.3% based on 25 new homes 220-48360-000 Interest Income - Fire & Rescue 626 400 407 400 400 (7) 100.0% 220-48361-000 Interest Income - Parks 2,128 1,300 1,383 1,300 1,300 (83) 100.0% 220-48362-000 Interest Income - Library 814 500 529 500 500 (29) 100.0% 220-48363-000 Interest Income - Water 2,691 1,500 1,749 1,500 1,500 (249) 100.0% Transfer out from Park Impact fees Transfer out from Water Impact fees 180,000 180,000 Total Revenues 87,843 116,664 53,018 259,718 121,783 230% 229.7% EXPENDITURES 220-51436-300 Miscellaneous Expense - - (109) 109 109 0.0% 220-59200-000 Transfer Out - Fire & Rescue - - - - 0.0% 220-59201-000 Transfer Out - Parks - (38,000) - 38,000 - 0.0% 220-59202-000 Transfer Out - Library - - - - 0.0% 220-59203-000 Transfer Out - Water - (187,800) - 187,800 187,800 100.0% Total Expenses - (225,800) (109) 225,909 - Net Income (Loss) 87,843 (109,137) 52,909 33,809 121,783 Balances: F ire & Rescue 38,388.17$ Parks 78,763.18$ Library 36,389.02$ Water 203,700.82$ 30 OPERATING BUDGET Proposed 2026 9/30/2025 9/30/2025 12/31/2025 12/31/2024 12/31/2026 Account Type Title Current Period Actual YTD Actual Current Budget Prior Year Actual PROPOSED BUDGET $$ Chg to Budget % Chg to Budget 210-44505 Revenue Grants - (15,268.00) - (42,450.85) - - 0.0% 210-46300 Revenue Budget-Union Grove - (224,145.00) (298,860.00) (292,725.80) (311,069.81) 12,209.81 -3.9% 210-46301 Revenue Budget-Yorkville (120,036.79) (360,110.37) (480,147.16) (482,323.21) (468,007.39) (12,139.77) 2.6% 210-46310 Revenue Runs Billed - EMS (32,971.90) (249,271.80) (255,000.00) (259,822.42) (280,000.00) 25,000.00 -8.9% 210-46311 Revenue Runs Billed - FIRE - (2,770.00) (5,000.00) (7,505.31) (12,000.00) 7,000.00 -58.3% 210-46313 Revenue Reinspection Fees - - - - - - 0.0% 210-46314 Revenue Building Inspection Fee (32,239.00) (32,239.00) (100,000.00) - (85,000.00) (15,000.00) 17.6% 210-46320 Revenue FAP Funds-State of Wisconsin - (37,488.26) (7,217.08) (7,217.08) (7,217.08) - 0.0% 210-48102 Revenue Interest - LGIP - General - (17,050.27) (30,000.00) (39,410.15) (20,000.00) (10,000.00) 50.0% 210-48104 Revenue Interest - LGIP - Building - (655.81) (500.00) (1,128.40) (250.00) (250.00) 100.0% 210-48108 Revenue Interest - LGIP - Memorial - (2,175.63) - (727.00) (1,000.00) 1,000.00 -100.0% 210-48110 Revenue Interest - Checking Acct. (34.61) (293.89) (100.00) (353.16) (100.00) - 0.0% 210-48425 Revenue Miscellaneous (362,852.43) (576,566.04) (2,000.00) (41,315.62) (2,000.00) - 0.0% Total Revenue (548,134.73) (1,518,034.07) (1,178,824.24) (1,174,979.00) (1,186,644.29) 7,820.05 -0.7% Miscellaneous 210-51300-200 Expenditure Attorney Fees - 1,002.70 1,000.00 2,400.00 1,000.00 - 0% 210-51430-300 Expenditure Office Supplies 480.05 2,382.14 3,000.00 2,013.87 3,000.00 - 0% 210-51436-300 Expenditure Miscellaneous 1,464.59 2,294.32 3,650.00 2,334.49 2,500.00 1,150.00 46% 210-51580-200 Expenditure Audit Services - 6,040.00 6,040.00 5,500.00 6,300.00 (260.00) -4% 210-54261-300 Expenditure Dues & Subscriptions 3,580.79 34,634.60 36,000.00 26,512.31 39,000.00 (3,000.00) -8% 210-54265-300 Expenditure Fire Prevention - - 2,500.00 2,281.76 3,000.00 (500.00) -17% 210-54266-300 Expenditure EMS Week - - 1,000.00 0.00 0.00 1,000.00 210-54280-200 Expenditure Billing Service - EMS 4,038.77 35,051.51 46,800.00 36,923.11 45,000.00 1,800.00 4% 210-54281-200 Expenditure Billing Service - FIRE - 489.60 1,000.00 674.64 3,500.00 (2,500.00) -71% 210-54205-300 Expenditure FEMA Grant Expenses - - - 0.00 0.00 - 0% 210-54206-300 Expenditure Grant Expense - 241.00 - 42,416.85 0.00 - 0% 210-54208-300 Expenditure Memorial Expense (LGIP) - - - 0.00 0.00 Total Miscellaneous Expense 9,564.20 82,135.87 100,990.00 121,057.03 103,300.00 (2,310.00) -2% Utilities 210-51610-320 Expenditure Natural Gas & Electricity 318.66 10,329.45 14,000.00 10,860.54 14,000.00 - 0% 210-51610-330 Expenditure Telephone 166.33 1,329.02 2,000.00 1,992.79 2,000.00 - 0% 210-51610-340 Expenditure Water - 3,267.87 6,400.00 5,974.61 7,000.00 (600.00) -9% 210-51610-350 Expenditure CELL PHONES 381.00 4,377.70 7,500.00 6,863.93 7,500.00 - 0% 210-51610-360 Expenditure INTERNET/TV 182.34 1,630.61 2,200.00 2,008.84 2,200.00 - 0% Total Utilities Expense 1,048.33 20,934.65 32,100.00 27,700.71 32,700.00 (600.00) -2% Personnel 210-51932-200 Expenditure Insurance-Personnel - 6,162.00 6,200.00 4,741.00 6,200.00 - 0% 210-51930-200 Expenditure Insurance-Workers Comp. - 3,710.00 4,800.00 7,440.00 4,800.00 - 0% 210-52300-000 Expenditure Salary-Chief 3,000.00 9,000.00 12,000.00 12,000.00 12,000.00 - 0% 210-52300-130 Expenditure Salary - Chief - FICA 229.50 688.50 918.00 918.00 918.00 - 0% 210-52301-000 Expenditure Salary-Assistant Chiefs 1,667.50 5,002.50 6,670.00 6,670.00 7,004.00 (334.00) -5% 210-52301-130 Expenditure Salary - Assistant Chief - FI 127.56 382.69 510.26 510.26 535.81 (25.55) -5% 210-52302-000 Expenditure Salary-Captains 517.24 1,551.72 2,069.00 2,068.96 0.00 2,069.00 210-52302-130 Expenditure Salary - Captains - FICA 39.56 118.69 158.28 158.26 0.00 158.28 210-52303-000 Expenditure Salary-Lieutenants 525.39 1,751.30 2,802.00 2,802.08 7,500.00 (4,698.00) -63% 31 210-52303-130 Expenditure Salary-Lieutenants - FICA 40.20 134.00 214.35 214.40 573.75 (359.40) -63% 210-52305-000 Expenditure Salary-Janitor - - 3,579.00 3,280.64 0.00 3,579.00 210-52305-130 Expenditure Salary - Janitor - FICA - - 273.79 250.91 0.00 273.79 210-52307-000 Expenditure QA/QI Position 375.00 1,125.00 1,500.00 1,500.00 0.00 1,500.00 210-52307-130 Expenditure QA/QI Position- FICA 28.69 86.06 114.75 114.75 0.00 114.75 210-52308-000 Expenditure Clerical Employee 3,509.00 35,233.00 45,760.00 45,655.50 48,048.00 (2,288.00) -5% 210-52308-130 Expenditure Clerical Employee - FICA 268.44 2,695.33 3,500.64 3,492.67 3,675.67 (175.03) -5% 210-52309-000 Expenditure WAGES 42,365.67 392,100.51 554,474.00 435,953.64 602,198.00 (47,724.00) -8% 210-52309-130 Expenditure SALARIES - FICA 3,240.92 29,995.71 42,417.26 33,338.53 46,068.15 (3,650.89) -8% 210-54100-000 Expenditure WRS - - 55,000.00 0.00 0.00 55,000.00 210-54200-300 Expenditure Awards/Recognition - 149.52 4,800.00 517.87 4,800.00 - 0% Total Personnel Expense 55,934.67 489,886.53 747,761.33 561,627.47 744,321.38 3,439.96 0.46% Training 210-54210-300 Expenditure Seminar-Food & Lodging - 277.90 2,500.00 0.00 2,500.00 - 0% 210-54213-300 Expenditure Personnel Training 80.00 3,647.36 13,200.00 7,820.44 13,200.00 - 0% 210-54217-300 Expenditure Training Material - 44.28 1,000.00 132.97 1,000.00 - 0% 210-54201-300 Expenditure Mileage 217.00 434.00 800.00 685.41 800.00 - 0% 210-54220-300 Expenditure FAP - Training - - 3,199.88 1,206.34 3,199.88 - 0% 210-54221-300 Expenditure FAP - Equipment - 7,105.97 4,017.20 9,493.31 4,017.20 - 0% 210-54225-300 Expenditure Uniforms - - 2,200.00 238.00 2,200.00 - 0% 210-54226-300 Expenditure Turn-out Gear 2,388.83 2,388.83 25,000.00 19,910.56 25,000.00 - 0% 210-54230-300 Expenditure Shots - - 300.00 0.00 300.00 - 0% 210-54231-300 Expenditure Physicals 3,159.00 4,659.00 6,000.00 1,281.00 6,000.00 - 0% Total Training Expense 5,844.83 18,557.34 58,217.08 40,768.03 58,217.08 - 0% Vehicle/Equipment 210-54235-130 Expenditure Veh. Maint.- FICA 5.05 129.58 - 164.09 250.00 (250.00) 0% 210-54235-300 Expenditure Vehicle Maintenance 2,224.91 23,580.99 25,000.00 41,104.95 30,000.00 (5,000.00) -17% 210-51931-200 Expenditure Insurance-Auto,Property,Equip - 42,500.00 42,500.00 37,929.00 45,000.00 (2,500.00) -6% 210-54340-301 Expenditure Gas & Diesel 998.37 7,105.65 15,000.00 12,101.99 15,000.00 - 0% 210-54237-300 Expenditure Port. Equipment Maint. 993.80 7,313.86 10,000.00 5,846.61 10,000.00 - 0% 210-54240-300 Expenditure Radio Repair - - 3,000.00 0.00 3,000.00 - 0% Total Vehicle/Equipment Expense 4,222.13 80,630.08 95,500.00 97,146.64 103,250.00 (7,750.00) -8% Supplies 210-54250-300 Expenditure Oxygen 384.08 2,699.58 2,200.00 1,689.91 2,800.00 (600.00) -21% 210-54251-300 Expenditure First Aid Supplies 421.12 6,853.42 13,200.00 12,767.35 13,200.00 - 0% 210-54253-300 Expenditure Hazardous Material Supplies - - 1,000.00 0.00 1,000.00 - 0% 210-54254-300 Expenditure Small Equipment - 139.00 8,000.00 5,049.57 8,000.00 - 0% Total Supplies Expense 805.20 9,692.00 24,400.00 19,506.83 25,000.00 (600.00) -2% Building 210-54260-300 Expenditure Building Maintenance 14.44 4,359.83 5,750.00 5,622.97 5,750.00 - 0% 210-54245-300 Expenditure Janitor Supplies 316.68 738.43 1,000.00 1,095.00 1,000.00 - 0% Total Building Expense 331.12 5,098.26 6,750.00 6,717.97 6,750.00 - 0% Capital/Debt Service 210-57100-300 Expenditure Capital Items - 6,116.45 8,683.00 2,559.45 8,683.00 - 0% 210-57120-300 Expenditure Capital Items-FAP - - - 0.00 0.00 - 0% 210-57125-300 Expenditure Captial Items-Impact Fees - - - 0.00 0.00 - 0% 210-58100-200 Expenditure Debt Service-Principal - 79,078.22 79,078.22 76,728.03 81,450.57 (2,372.35) -3% 210-58200-200 Expenditure Debt Service-Interest - 15,344.61 15,344.61 17,694.80 12,972.26 2,372.35 18% 32 210-58510-200 Expenditure Contingency Fund - 644,029.48 10,000.00 119,850.17 10,000.00 - 0% Total Capital Items & Debt Service Expense - 744,568.76 113,105.83 216,832.45 113,105.83 - 0% Total Expenses 77,750.48 1,451,503.49 1,178,824.24 1,091,357.13 1,186,644.29 (7,820.05) -0.66% Net Income (Loss) - 0.00 Operating Budget 2025 Equalized Values UG 690,070,100.00 39.93% Yorkville 1,038,216,800.00 60.07% 1,728,286,900.00 Total Expenses 1,186,644.29 Other Revenue (407,567.08) (779,077.21) Total Needed - Villages VOUG (311,069.81) Yorkville (468,007.39) (779,077.21) 33 8/31/2025 8/31/2025 12/31/2025 12/31/2024 12/31/2026 AERIAL BUDGET Proposed, 2026 Current Period Actual YTD Actual Current Budget Prior Year Actual PROPOSED BUDGET $$ Chg to Budget % Chg to Budget 215-46300 Revenue Union Grove Budget - (2,387.76) (3,183.66) (3,643.56) (2,456.04) (727.62) 30% 215-46301 Revenue Yorkville Budget - (2,036.50) (5,245.71) (6,003.45) (3,695.14) (1,550.57) 42% 215-46302 Revenue Dover Budget (3,235.63) (3,235.63) (3,703.01) (2,513.82) (721.81) 29% 215-48110 Revenue Interest Income (4.13) (34.87) (15.00) (39.21) (15.00) - 0% 215-48111 Revenue Interest - LGIP - AERIAL (404.78) (3,144.78) (1,500.00) (4,042.20) (4,500.00) 3,000.00 -67% 215-48425 Revenue Miscellaneous Income - - - (0.07) 0.00 - 0% 215-48450 Revenue Transfer from Investments - - - 0.00 0.00 - Total Revenue (408.91) (10,839.54) (13,180.00) (17,431.50) (13,180.00) - 0% 215-51430-300 Expenditure Office Supplies - - - 0.00 0.00 - 0% 215-51436-300 Expenditure Miscellaneous Expense - - 750.00 (0.14) 750.00 - 0% 215-51930-200 Expenditure Insurance - 1,177.00 1,180.00 1,336.00 1,180.00 - 0% 215-54235-300 Expenditure Vehicle Maintenance 784.01 4,720.60 5,500.00 3,383.91 5,500.00 - 0% 215-54340-301 Expenditure Vehicle Fuel 115.38 328.99 750.00 559.01 750.00 - 0% 215-57100-200 Expenditure Capital Items - - - 0.00 0.00 - 215-58100-200 Expenditure Loan Payment-Principal - - - 0.00 0.00 - 0% 215-58200-200 Expenditure Loan Payment-Interest - - - 0.00 0.00 - 0% 215-58510-200 Expenditure Contingency Fund - - 5,000.00 0.00 5,000.00 - Total Expenses 899.39 6,226.59 13,180.00 5,278.78 13,180.00 - 0% Net Icome (Loss) - 0.00 - Aerial Budget 2023 Equalized Values UG $690,070,100.00 28.34% Yorkville $1,038,216,800.00 42.64% Dover $706,304,500.00 29.01% $2,434,591,400.00 Total Expenses $13,180.00 Other Revenue (4,515.00) $8,665.00 Total Needed Villages UG 2,456.04 Yorkville 3,695.14 Dover 2,513.82 34 2nd DRAFT 2026 Budget Graham Public Library Account Number Account Name 2025 Budget 2026 Budget $ Chg '25 Budg. to '26 Budg. % Chg '25 Budg. to '26 Budg. REVENUES 205-47100-000 Village 173,408 173,408 - 0.0% 205-47101-000 County 172,207 171,443 (764) -0.4% 205-47110-000 Fines 775 775 - 0.0% 205-47111-000 Copies & Faxes 4,400 4,400 - 0.0% 205-47120-000 Book Sale - - - 0.0% 205-47121-000 Donations - - - 0.0% 205-48112-000 Investment Interest - - - 205-48425-000 Miscellaneous Total Revenues 350,790 350,026 (764) -0.2% EXPENSES Personnel 205-51435-300 Education 1,500 2,000 500 33.3% 205-51931-200 Workers Comp. Insurance 400 450 50 12.5% 205-52100-000 Salaries 201,271 194,609 (6,662) -3.3% 205-52100-130 Social Security Expense 15,379 14,888 (491) -3.2% 205-52100-131 Pension 10,306 10,730 424 4.1% 205-52100-132 Health Insurance 13,124 12,607 (517) -3.9% 205-52100-134 Life Insurance 250 180 (70) -28.0% Total Personnel Expenses 242,230 235,464 (6,766) -2.8% Building Maintenance 205-51431-200 Maintenance Agreements 4,740 4,445 (295) -6.2% 205-51610-310 Electric 9,000 8,500 (500) -5.6% 205-51610-320 Gas 3,000 3,000 - 0.0% 205-51610-330 Telephone 960 960 - 0.0% 205-51610-340 Water/Sewer/Storm 1,800 1,800 - 0.0% 205-51610-350 Janitorial Services 6,720 8,500 1,780 26.5% 205-51930-200 Building/Liability Insurance 3,787 3,820 33 0.9% 9/17/2025 at 11:58 AM 35 205-52200-300 Repairs 8,000 8,000 - 0.0% 205-52201-300 Janitorial Supplies 400 500 100 25.0% 205-52203-300 Weeding/Flowers/Tree Trimming 500 500 - 0.0% 205-52204-300 Grass Care 910 1,000 90 9.9% Total Building Maintenance Expenses 39,817 41,025 1,208 3.0% Library Operations 205-51430-300 Supplies 3,750 4,200 450 12.0% 205-52210-300 Books/Audio-Visual/Electronic Re. 35,500 38,480 2,980 8.4% 205-52211-300 Newspapers & Periodicals 1,262 1,227 (35) -2.8% 205-52213-300 Programing/Marketing 3,600 4,200 600 16.7% 205-52214-300 Postage 100 50 (50) -50.0% 205-52215-300 Dues & Mileage 1,250 700 (550) -44.0% 205-52220-300 Technology Expense 11,881 13,580 1,699 14.3% Total Operations Expenses 57,343 62,437 5,094 8.9% Miscellaneous 205-51580-200 Audit Expense 1,100 1,100 - 0.0% 205-52225-200 Village Administration Expense 10,000 10,000 - 0.0% 205-52235-300 Petty Cash 300 - (300) -100.0% 205-51436-300 Miscellaneous 205-57100-300 Capital Items - 0.0% Total Miscellaneous Expense 11,400 11,100 (300) -2.6% Total Expenses 350,790 350,026 (764) -0.2% Net Income (Loss) - - 9/17/2025 at 11:58 AM 36 Debt S ervice Fund 37 2026 Budget 12/31/2024 12/31/2025 9/30/2025 12/31/2026 Debt Service Fund Account Number Account Name $ 696.00 2025 Budget 2025 YTD 9/30 2025 Projected 2026 Budget FINAL Difference '25 Actual to '26 Budg. % Chg '25 Budg. to '26 Budg. REVENUES 300-41110-000 Tax Levy 505,963 433,176 - 433,176 696,005 696,005 160.7% Miscellaneous - - - - 0.0% - - - 0.0% 300-48741-000 Premium on Debt Issued - - 123,496 123,496 - 0.0% Total Revenues 505,963 433,176 123,496 556,672 696,005 72,787 14.4% - EXPENDITURES 300-58100-200 Debt Service-Principal (456,728) (344,884) (315,000) 344,884 401,451 56,567 116.4% GO Refunding 2015A & GO Streets 2020 & 2020C & 2025A 300-58200-200 Debt Service-Interest (106,302) (86,193) (57,825) 86,193 474,772 388,579 550.8% Interest on above listed 300-58200-210 Paying Agent Fee (1,200) (2,100) (800) 2,100 2,100 - 100.0% - - - - - 0.0% Total Expenses (564,230) (433,176) (373,625) 433,177 878,323 1,251,948 202.8% Net Income (Loss) (58,267) - (250,129) 123,495 (182,318) Significant Variances Explanation: 1. Fire Deparment Referendum 2. 2025 Borrowings (accounting for new debt payment) 3. Premium on Debt issued recognized in 2025 (hence negative amount) 4. Difference between premium on debt and balance is the Fire Budget $58,741 Fire budget= $58741 38 Ca pital Improvement Fund and Plans 39 2026 Budget 12/31/2024 12/31/2025 9/30/2025 12/31/2026 CIP BUDGET Account Number Account Name 2024 Actual 2025 Budget 2025 YTD 9/30 2025 Projected 2026 Budget FINAL Difference '25 Actual to '26 Budg. % Chg '25 Budg. to '26 Budg. REVENUES 400-41110-000 PROPERTY TAXES - CAPITAL ITEMS 1,231,025 210,000 - 210,000 93,000 93,000 44.3% 400-48700-000 CIF - OTHER GRANTS 326,949 1,000,000 18,961 200,000 181,039 20.0% 400-48710-000 AUCTION - MAJOR EQUIPMENT 25,856 22,406 31,945 31,945 (31,945) 0.0% 400-48731-000 Donations-Parks 2,000 - 5,650 5,650 (5,650) 0.0% 400-48720-000 RENTAL INCOME 27,573 - 500 500 500 - 0.0% 400-48725-000 CIF Transfer In-Impact Fees - 210,000 - 50,000 50,000 23.8% 400-48726-000 TRANSFER FROM GENERAL FUND - - - - 0.0% 400-48728-000 TRANSFER FROM ACCRUED CAPITAL - 192,000 - - 0.0% 400-48729-000 TRANSFER FROM ARPA AID - - - - 0.0% 400-48740-000 Debt Proceeds - - 6,580,000 6,580,000 (6,580,000) 0.0% 400-48741-000 PREMIUM ON DEBT ISSUED - - 136,009 136,009 1,890,000 1,753,991 100.0% 400-43730-000 PARKS GRANTS 500,000 - - - 0.0% 400-48900-000 MISC REVENUE - - - 0.0% 400-48910-000 SIDEWALK REPLACEMENT - - 8,000 8,000 8,000 100.0% Total Revenues 2,113,403 1,634,406 6,773,065 6,972,104 2,241,500 (4,531,565) 137.1% EXPENDITURES 400-51436-300 MISCELLANEOUS (1,026) - - - - - 0.0% 400-57140-302 MAJOR EQUIPMENT FUND (360) (10,000) (652,878) 500,000 13,000 665,878 130.0% 400-57140-303 FACILITIES IMPROVEMENT (26,746) (76,000) (40,847) 76,000 28,220 69,067 37.1% 400-57140-304 COMPUTERS (18,245) (18,000) (9,470) 20,000 11,271 20,741 62.6% 400-57140-305 PLANNING - - - - - - 0.0% 400-57140-306 Voting Equipment - - - - - - 0.0% 400-57140-308 STREET IMPROVEMENTS (7,777) (604,000) (462,120) 604,000 2,090,000 2,552,120 346.0% 400-57140-309 Curb & Sidewalk Replacement - - (2,991) 604,000 8,000 10,991 0.0% 400-57140-315 PARK IMPROVEMENTS (326,949) (100,000) (188,353) 200,000 50,000 238,353 50.0% 400-57140-321 Water Improvements - (878,000) (3,938) 878,000 - 3,938 0.0% 400-57140-322 Sewer Improvements - (209,000) (3,938) 209,000 - 3,938 0.0% 400-51580-200 AUDIT FEES - (1,250) - 1,250 1,250 1,250 100.0% 400-58425-000 DEBT ISSUANCE COSTS - - (284,283) 206,222 - 284,283 0.0% Total Expenses (381,105) (1,896,250) (1,648,818) 3,298,472 2,201,741 3,850,559 116.1% Net Income (Loss) 1,732,298 (261,844) 5,124,246 3,673,632 39,759 40 Project 2025 Budget 2025 Projected 2026 2027 2028 2029 2030 Note Municipal Center Office Carpet Replacement - Yorkville Side $12,000 $8,059 Bathroom Updates $15,000 $8,000 Sink and counter replacements Meeting Room Expansion $5,000 $12,790 Sealcoat Parking Lot $5,000 $2,433 Security Upgrades $9,000 $0 $10,000 Camera system and access control Storage Room Addition $6,000 Underneath southeast staircase Siren Head Replacement $12,220 HVAC- Boilers (2) $165,000 Office Carpet Replacement - Board Rooms $12,000 Subtotal Municipal Center Projects $46,000 $31,282 $28,220 $177,000 $0 $0 $0 Public Works Garage Modify Building for Wash Bay $15,000 $0 Cancelled DPW Radiant Tube Heaters $16,000 Parking Lot Resurfacing $50,000 Subtotal Public Works Garage Projects $15,000 $0 $0 $16,000 $50,000 $0 $0 Electrical Control Room A/C $15,000 $17,380 Entrance Gate Replacement $0 $17,620 Office Lab Roof $10,000 WWTP Facility Plan $200,000 Subject to 2026 Permit Requirements WWTP Facility Upgrade $2,000,000 Subject to 2026 Permit Requirements Security Upgrades $5,000 Screening Building Upgrades $10,000 Subtotal Wastewater Treatment Plants Projects $15,000 $35,000 $10,000 $200,000 $2,015,000 $0 $0 Total Facilities Projects $76,000 $66,282 $38,220 $393,000 $2,065,000 $0 Funding Source 2025 Budget 2025 Projected 2026 2027 2028 2029 2030 Total ('25-'30) Capital Fund $61,000 $31,282 $28,220 $193,000 $50,000 $302,502 Wastewater Utility $15,000 $35,000 $10,000 $200,000 $15,000 $260,000 Revenue Debt $2,000,000 $2,000,000 Total $76,000 $66,282 $38,220 $393,000 $2,065,000 $0 $0 $2,562,502 Wastewater Treatment Plant 41 Equipment Name Purchase Year Purchase Price Est. Life 2026 2027 2028 2029 2030 Note Administrative Computer Equipment Various N/A 5 $8,000 $8,000 $8,000 $8,000 $8,000 GIS System N/A N/A 15 $5,000 $5,000 $5,000 $5,000 $5,000 Village Code 2025 $17,500 20 $10,500 Village Hall Server 2023 $13,000 5 $20,000 Voting Equipment 2017 $8,333 10 $10,000 Subtotal Administrative $23,500 $13,000 $33,000 $23,000 $13,000 Public Works Vehicles 2011 Chevrolet 2500 4WD with Plow 2011 $31,930 15 $30,000 Replace w/2020 Ford F250 from utilities 1998 Ford F450 Bucket Truck 2007 $22,500 15 $50,000 Sparsely used. Used vehicle replacement. Equipment 2003 Lazer Line 3900 Airless Road Paint Striper 2005 $5,300 10 $8,000 1980's Garner Denver 190 Air Compressor 1991 $10,651 19 $15,000 2011 Woodsman 750 Brush Chipper 2011 $40,500 15 $60,000 2002 John Deere Gator 4x2 2003 Unknown 15 $9,000 Replace with 2020 4x4 from utilities 1996 Lee Boy Roller Model 400 1996 $20,624 15 $30,000 2020 Toro 60" Rear Discharge Zero Turn Mower 2020 $9,461 4 $15,000 2014 Case 621 Loader with 3-yard Bucket, Plow & Wing 2014 $116,269 15 $200,000 1997 Cronkite Skid Loader Trailer $15,000 Subtotal Public Works $38,000 $134,000 $30,000 $230,000 Water Utility Water Meters $15,000 $15,000 $15,000 $15,000 $15,000 Split with wastewater 2020 Ford F250 4WD with Plow 2019 $42,000 15 $15,000 Purchase new. Existing moves to DPW 1998 Pro-Tec 5'x7' Aluminum Trench Box 1998 Unknown 15 $7,500 Split with water Subtotal Water Utility $30,000 $15,000 $22,500 $15,000 $15,000 Wastewater Utility Water Meters $15,000 $15,000 $15,000 $15,000 $15,000 Split with water Pro Cam Sewer Self-Leveling Camera 2006 $38,000 20 $90,000 2016 Exmark Lazer Z X Series 72" Zero Turn Mower 2016 N/A 4 $16,000 2020 Ford F250 4WD with Plow 2019 $42,000 15 $15,000 Purchase new. Existing moves to DPW 2020 John Deere Gator 4x4 Utility Vehicle with Cab 2020 $12,012 15 $9,000 Purchase new. Existing moves to DPW 2010 Peterbilt Vactor Vac Truck 2011 $200,000 15 $650,000 1998 Pro-Tec 5'x7' Aluminum Trench Box 1998 Unknown 15 $7,500 Split with wastewater 2014 Ford F450 CTE Crane Truck 2015 $50,195 15 $80,000 Subtotal Wastewater Utility $136,000 $24,000 $672,500 $15,000 $95,000 Stormwater Utility 2001 Tarco Windy 100 Leaf Vac 2002 $20,970 7 $50,000 2015 Freightliner Elgin Sweeper M2 106 2016 $229,673 15 $300,000 Subtotal Stormwater Utility $50,000 $0 $0 $0 $300,000 Total Facilities Projects $277,500 $186,000 $758,000 $283,000 $423,000 Funding Source 2026 2027 2028 2029 2030 Total ('26-'30) Capital Fund $61,500 $147,000 $63,000 $53,000 $13,000 $337,500 Water Utility $30,000 $15,000 $22,500 $15,000 $15,000 $97,500 Wastewater Utility $136,000 $24,000 $22,500 $15,000 $15,000 $212,500 Stormwater Utility $0 Revenue Debt $50,000 $650,000 $80,000 $780,000 GO Debt $200,000 $300,000 $500,000 Total $277,500 $186,000 $758,000 $283,000 $423,000 $1,927,500 42 Location Description Streets Capital Street Grants Street Bonds Water Capital Water Grants Water Utility Bonds Sewer Capital Sewer Grants Sewer Utility Bonds Storm Capital Storm Grants Storm Utility Bonds New Borrowing TID #5 TID #6 TID #7 Total Cost Note Well #3 Building Rehabilitation $25,000 $25,000 Well Tower #3 Rehabilitation $750,000 Yes $750,000 2026 Revenue Bonds Fox Creek Pond Erosion Control $15,000 $15,000 2026 Revenue Bonds High St. (7th ave to 10th ave.) Water main, sewer main, pavement, sidewalk addition, and curb replacements. $704,000 $516,000 $104,000 $260,000 Yes $1,584,000 Utility - 2026 Revenue Bonds Streets - 2026 GO Bonds 8th Ave. (High to Community Garden) (Pavement and curb replacements) $167,000 $16,000 Yes $183,000 Streets - 2026 GO Bonds/Storm - 2026 Revenue Bonds 67th Dr. (Hwy11 to 58th road) Pavement, drainage, and pedestrian improvements) $130,000 $402,250 $37,000 $70,000 $222,750 Yes $862,000 Streets - 2026 GO Bonds/Storm - 2026 Revenue Bonds/LRIP 67th Dr. Trestle Removal $70,000 Yes $70,000 2026 GO Bonds $130,000 $1,343,250 $25,000 $1,266,000 $37,000 $0 $104,000 $513,750 $3,489,000 Funding Source 2026 Planned Total 2025 Projects 43 Parks Replacement Plan (2025 - 2029) Project 2024 Budget 2024 Projected 2025 2026 2027 2028 2029 Note CAPITAL PROJECTS Comprehensive Outdoor Recreation Plan $5,000 American Legion Park - Replace Baseball Field Equipment $30,000 American Legion Park - Replace Playground Equipment $50,000 Bufton Park - Replace Playground Equipment $200,000 Community Garden $23,075 Leider Park - Splashpad $500,000 $443,841 Leider Park - Parking Lot Replacement $70,000 School Yard Park - Replace Swing Set $15,000 WWTP - Soccer Bench Seating $5,000 Subtotal Capital Parks Projects $500,000 $466,916 $100,000 $50,000 $10,000 $200,000 $15,000 Funding Source 2024 Budget 2024 Projected 2025 2026 2027 2028 2029 Total ('24-'29) Recreation & Parks Fund $5,000 $5,000 Capital Fund $50,000 $5,000 $200,000 $15,000 $270,000 Impact Fees $46,916 $30,000 $76,916 Grants $500,000 $420,000 $70,000 $490,000 Total $500,000 $466,916 $100,000 $50,000 $10,000 $200,000 $15,000 $841,916 44 Table 3 Capital Improvement Plan & Funding Uses Village of Union Grove, WI Projects Purpose/Dept. Repayment Source Plan Issue Funding 2026 2027 2028 2029 2030 2031 Totals 2003 Lazer Line 3900 Airless Road Paint Striper Public Works Levy None Cash 8,000 8,000 67th Dr. (Union Grove portion) Streets Levy None Grants/Aids 200,000 200,000 67th Dr. (Union Grove portion) Streets Levy 2026 G.O. Notes G.O. Debt 923,000 923,000 67th Dr. Trestle Removal Streets Levy 2026 G.O. Notes G.O. Debt 80,000 80,000 8th Ave (High to dead end) Streets Levy 2026 G.O. Notes G.O. Debt 183,000 183,000 American Legion Park Playground Equipment Parks Levy None Cash 50,000 50,000 Computer Equipment Administrative Levy None Cash 8,000 8,000 8,000 8,000 8,000 8,000 48,000 GIS System Public Works Levy None Cash 5,000 5,000 5,000 5,000 5,000 5,000 30,000 High St. (7th Ave. to 10th Ave.) Streets Levy 2026 G.O. Notes G.O. Debt 704,000 704,000 Municipal Center Carpet Administrative Levy None Cash 12,000 12,000 Municipal Center Security Administrative Levy None Cash 10,000 10,000 2016 Exmark Lazer Z X Series 72" Zero Turn Mower Sewer Sewer None Cash 8,000 8,000 2020 Ford F250 4WD Sewer Sewer None Cash 30,000 30,000 2020 Ford F250 4WD with Plow Sewer Sewer None Cash 35,000 35,000 67th Dr. (Union Grove portion) Sewer Sewer None Cash 44,000 44,000 High St. (7th Ave. to 10th Ave.) Sewer Sewer 2026 Revenue Bonds Revenue Debt 104,000 104,000 Lab Roof Sewer Sewer None Cash 10,000 10,000 Pro Cam Sewer Self-Leveling Camera Sewer Sewer None Cash 90,000 90,000 South of 13th Ave. - Highview/71st Easement Sewer Sewer None Cash 40,000 40,000 South of 13th Ave. - Jean/71st Easement Sewer Sewer None Cash 40,000 40,000 South of 17th Ave. - State/Hwy. 45 Easement Sewer Sewer None Cash 25,000 25,000 State St. (14th Ave. to 13th Ave.) Sewer Sewer None Cash 50,000 50,000 Water Meters Sewer Sewer None Cash 15,000 15,000 15,000 15,000 15,000 15,000 90,000 2001 Tarco Windy 100 Leaf Vac Storm Storm 2026 Revenue Bonds Revenue Debt 50,000 50,000 Fox Creek Pond Storm Storm None Cash 15,000 15,000 High St. (7th Ave. to 10th Ave.) Storm Storm 2026 Revenue Bonds Revenue Debt 260,000 260,000 2016 Exmark Lazer Z X Series 72" Zero Turn Mower Water Water None Cash 8,000 8,000 2020 Ford F250 4WD Water Water None Cash 30,000 30,000 2020 Ford F250 4WD with Plow Water Water None Cash 35,000 35,000 67th Dr. (Union Grove portion) Water Water None Cash 15,000 15,000 High St. (7th Ave. to 10th Ave.) Water Water 2026 Revenue Bonds Revenue Debt 516,000 516,000 Water Meters Water Water None Cash 15,000 15,000 15,000 15,000 15,000 15,000 90,000 Well Building #3 Water Water None Cash 78,734 78,734 Well Building #3 Water Water 2026 Revenue Bonds Revenue Debt 21,266 21,266 Well Tower #3 Water Water None Grants/Aids 210,365 210,365 Copy of Project 2025 tracker-Kyle Prepared 9/30/2025 45 Well Tower #3 Water Water 2026 Revenue Bonds Revenue Debt 539,635 539,635 Actual CIP Costs 2,054,000 1,080,000 3,362,000 3,014,000 1,859,000 2,120,000 13,489,000 Sources of Funding 2026 2027 2028 2029 2030 2031 Totals G.O. Debt 1,890,000 2,337,163 656,000 1,480,000 1,108,000 602,000 8,073,163 Levy 1,890,000 1,917,163 656,000 956,000 1,108,000 602,000 7,129,163 TID #6 0 0 0 524,000 0 0 524,000 TID #7 0 420,000 0 0 0 0 420,000 Revenue Debt 1,490,901 1,920,000 3,747,000 2,210,000 2,612,000 2,000,000 13,979,901 Water 1,076,901 831,000 756,000 1,900,000 2,031,000 2,000,000 8,594,901 Sewer 104,000 584,000 2,898,000 310,000 213,000 0 4,109,000 Storm 310,000 505,000 93,000 0 368,000 0 1,276,000 Grants/Aids 410,365 0 0 0 0 0 410,365 Levy 200,000 0 0 0 0 0 200,000 Water 210,365 0 0 0 0 0 210,365 Cash 676,734 507,837 241,000 102,000 313,000 203,000 2,043,571 Levy 93,000 170,837 113,000 58,000 283,000 108,000 825,837 Water 181,734 15,000 65,500 15,000 15,000 19,000 311,234 Sewer 387,000 284,000 44,500 19,000 15,000 40,000 789,500 Storm 15,000 38,000 18,000 10,000 0 36,000 117,000 Total 4,468,000 4,765,000 4,644,000 3,792,000 4,033,000 2,805,000 24,507,000 Levy 2,183,000 2,088,000 769,000 1,014,000 1,391,000 710,000 8,155,000 Water 1,469,000 846,000 821,500 1,915,000 2,046,000 2,019,000 9,116,500 Sewer 491,000 868,000 2,942,500 329,000 228,000 40,000 4,898,500 Storm 325,000 543,000 111,000 10,000 368,000 36,000 1,393,000 TID #6 0 0 0 524,000 0 0 524,000 TID #7 0 420,000 0 0 0 0 420,000 Debt Obligations 2026 2027 2028 2029 2030 2031 Totals 2026 G.O. Notes 1,890,000 0 0 0 0 0 1,890,000 Levy 1,890,000 0 0 0 0 0 1,890,000 2026 Revenue Bonds 1,490,901 1,920,000 0 0 0 0 3,410,901 Water 1,076,901 831,000 0 0 0 0 1,907,901 Sewer 104,000 584,000 0 0 0 0 688,000 Storm 310,000 505,000 0 0 0 0 815,000 2027 G.O. Notes 0 2,337,163 0 0 0 0 2,337,163 Levy 0 1,917,163 0 0 0 0 1,917,163 TID #7 0 420,000 0 0 0 0 420,000 2028 G.O. Notes 0 0 656,000 1,480,000 0 0 2,136,000 Levy 0 0 656,000 956,000 0 0 1,612,000 TID #6 0 0 0 524,000 0 0 524,000 2028 Revenue Bonds 0 0 3,747,000 0 0 0 3,747,000 Water 0 0 756,000 0 0 0 756,000 Sewer 0 0 2,898,000 0 0 0 2,898,000 Storm 0 0 93,000 0 0 0 93,000 2029 Revenue Bonds 0 0 0 2,210,000 0 0 2,210,000 Water 0 0 0 1,900,000 0 0 1,900,000 Sewer 0 0 0 310,000 0 0 310,000 2030 G.O. Notes 0 0 0 0 1,108,000 602,000 1,710,000 Levy 0 0 0 0 1,108,000 602,000 1,710,000 Copy of Project 2025 tracker-Kyle Prepared 9/30/2025 46 2030 Revenue Bonds 0 0 0 0 2,612,000 0 2,612,000 Water 0 0 0 0 2,031,000 0 2,031,000 Sewer 0 0 0 0 213,000 0 213,000 Storm 0 0 0 0 368,000 0 368,000 2031 Revenue Bonds 0 0 0 0 0 2,000,000 2,000,000 Water 0 0 0 0 0 2,000,000 2,000,000 None 1,087,099 507,837 241,000 102,000 313,000 203,000 2,453,936 Total 4,468,000 4,765,000 4,644,000 3,792,000 4,033,000 2,805,000 24,507,000 Notes: Copy of Project 2025 tracker-Kyle Prepared 9/30/2025 47 Tax Incremental Financing District (TID) Funds 48 12/31/2024 12/31/2025 9/30/2025 12/31/2026 2026 Budget TID #4 Fund Account Number Account Name 2024 Actual 2025 Budget 2025 YTD 9/30 2025 Projected 2026 Budget FINAL Difference '25 Actual to '26 Budg. % Chg '25 Budg. to '26 Budg. REVENUES 404-41120-000 TAX INCREMENT 426,508 417,955 - 396,600 395,000 395,000 94.5% 404-49900-000 Transfer In - - - - - 0.0% 404-43535-000 COMPUTER AID - 5,701 5,701 5,701 5,701 (0) 100.0% 404-43555-000 PERSONAL PROPERTY AID 42,995 51,449 51,449 51,449 51,449 (0) 100.0% 404-48110-000 INTEREST INCOME 40,674 10,000 26,589 14,640 10,000 (16,589) 100.0% Total Revenues 510,177 485,105 83,739 468,390 462,150 378,411 95.3% EXPENDITURES 404-58100-200 DEBT SERVICE - PRINCIPAL (265,000) (275,000) - 275,000 285,000 285,000 103.6% 2012B 404-58200-200 DEBT SERVICE - INTEREST (42,750) (34,800) 7,751 34,800 26,550 34,301 76.3% 404-51200-200 Financial Advisor (1,100) (1,000) (4,250) 4,250 4,000 (250) 400.0% 404-51300-200 ATTORNEY FEES (874) (3,000) - 3,000 3,000 3,000 100.0% 404-51400-300 ADMINISTRATIVE EXPENSE - (5,000) (5,000) 5,000 30,000 25,000 600.0% 404-51400-301 ADMINISTRATIVE EXPENSE-WAGES - (17,307) (7,029) 17,307 57,859 50,831 334.3% 404-51436-300 MISCELLANEOUS - (2,000) - - 1,000 1,000 50.0% 404-51580-200 AUDIT FEE (1,500) (2,000) (2,000) 2,000 2,000 - 100.0% 404-51582-200 RCEDC CONTRACT (8,215) - - 8,215 8,715 8,715 100% 404-51595-200 GENERAL ENGINEERING - (30,000) - - - - 0.0% 404-54401-200 DOR FEE (150) (150) (150) 150 150 - 100.0% 404-54405-200 DEVELOPER AGREEEMENT PAYMENT (13,335) (13,335) (13,265) 13,265 - (13,265) 0.0% 404-59100-300 CAPITAL EXPENDITURES - - - - - 0.0% 404-59210-300 TRANSFER TO GENERAL FUND - (16,170) - - - 0.0% Total Expenses (332,924) (383,592) (23,943) 362,987 418,275 394,332 109.0% Net Income (Loss) 177,253 101,513 59,797 105,403 43,875 TID 4 payment for Utility wages= $57,859.37 49 2026 Budget 12/31/2024 12/31/2025 9/30/2025 12/31/2026 TID #5 Fund Account Number Account Name 2024 Actual 2025 Budget 2025 YTD 9/30 2025 Projected 2026 Budget FINAL Difference '25 Actual to '26 Budg. % Chg '25 Budg. to '26 Budg. REVENUES 405-41120-000 General Property Tax Increment 256,363 262,313 - 248,900 263,590 263,590 100.5% 405-43535-000 COMPUTER AID - - - - - 0.0% 405-43555-000 PERSONAL PROPERTY AID - - - - - 0.0% 405-48425-000 MISCELLANEOUS - - - - - 0.0% 405-48450-000 Transfer from Investments - - - - - 0.0% 405-48740-000 BONDS ISSUED - - - - - 0.0% 405-48741-000 PREMIUM ON DEBT ISSUED - - - - - 0.0% Total Revenues 256,363 262,313 - 248,900 263,590 263,590 100.5% EXPENDITURES 405-58100-200 DEBT SERVICE - PRINCIPAL (125,000) (140,000) (140,000) 140,000 145,000 5,000 103.6% 405-58200-200 DEBT SERVICE - INTEREST (70,110) (66,995) (34,348) (70,110) 63,520 29,173 94.8% 405-51200-200 FINANCIAL ADVISOR (1,100) (1,000) - 1,000 1,000 1,000 100.0% 405-51300-200 ATTORNEY FEES (833) (500) - 500 500 500 100.0% 405-51400-300 ADMINISTRATIVE EXPENSE (15,000) (5,000) (5,500) 6,000 20,000 14,500 400.0% 405-51400-301 ADMINISTRATIVE EXPENSE-WAGES - (8,578) (3,624) 5,000 5,000 1,376 58.3% 405-51580-200 AUDIT FEE (1,500) (2,000) (2,000) 2,000 - 100.0% 405-51585-200 RCEDC CONTRACT (6,161) - (6,346) 8,215 8,715 2,369 0.0% 405-51595-200 GENERAL ENGINEERING - - - - - 0.0% 405-52715-300 LAND ACQUISITION - - - - - 0.0% 405-52716-300 LAND REMEDIATION - - - - - 0.0% 405-53400-000 STREET INFRASTRUCTURE - - - - - 0.0% 405-54401-200 DOR FEE (150) (150) (150) 150 150 - 100.0% 405-54405-200 DEVELOPER AGREEMENT PAYMENT (2,756) - - - - 0.0% 405-58200-210 PAYING AGENT FEE (400) (400) (500) 400 800 300 200.0% 405-58425-000 DEBT ISSUANCE COSTS - - - - - 0.0% Total Expenses (223,010) (224,623) (192,468) 91,155 246,685 20,045 -8.9% Net Income (Loss) 33,353 37,690 (192,468) 157,745 16,905 243,545 50 2026 Budget 12/31/2024 12/31/2025 9/30/2025 12/31/2026 TID #6 Fund Account Number Account Name 2024 Actual 2025 Budget 2025 YTD 9/30 2025 Projected 2026 Budget FINAL Difference '25 Actual to '26 Budg. % Chg '25 Budg. to '26 Budg. REVENUES 406-41120-000 General Property Tax Increment 800,224 918,546 - 871,704 1,021,819 1,021,819 111.2% 406-43535-000 COMPUTER AID - - - - - 0.0% 406-43555-000 PERSONAL PROPERTY AID - 1,620 1,620 1,620 1,620 - 0.0% 406-48450-000 Transfer from Investments - 8,600 - - - 0.0% 406-48110-000 INTEREST INCOME 2,500 2,000 1,415 2,000 2,000 585 29.2% 406-48425-000 Miscellaneous Revenue 600 20,000 936 20,000 15,000 14,064 0.0% 406-48740-000 BONDS ISSUED - - - - - 0.0% 406-48741-000 PREMIUM ON DEBT ISSUED - - - - - 0.0% Total Revenues 803,323 950,766 3,971 895,324 1,040,439 1,036,468 109.4% EXPENDITURES 406-58100-200 Debt Service-Principal (50,000) (65,000) - 65,000 75,000 75,000 115.4% 406-58200-200 Debt Service-Interest (25,800) (24,650) (12,000) 24,650 23,250 35,250 94.3% 406-51200-200 FINANCIAL ADVISOR (1,100) (1,000) - 1,000 1,000 1,000 100.0% 406-51300-200 ATTORNEY FEES (6,980) (6,000) (741) 8,000 7,500 8,241 125.0% 406-51400-300 ADMINISTRATIVE EXPENSE (20,400) (5,000) (5,000) 5,000 20,000 25,000 400.0% 406-51400-301 ADMINISTRATIVE EXPENSE-WAGES 7,805 (34,371) (12,743) 16,000 38,697 51,440 112.6% 406-51580-200 AUDIT FEE (1,500) (2,000) (2,000) 2,000 2,000 4,000 100.0% 406-51582-200 RCEDC CONTRACT (8,215) - - 8,215 8,715 8,715 0.0% 406-51595-200 GENERAL ENGINEERING (6,592) (7,500) (630) 7,500 7,500 8,130 100.0% 406-53400-000 STREET INFRASTRUCTURE - - - - - 0.0% 406-54401-200 DOR FEE (150) (150) (150) 150 150 300 100.0% 406-54402-200 TID FORMATION - - - - - 0.0% 406-54405-200 Dev. Agreement (724,425) (805,000) (775,505) 775,505 850,000 1,625,505 105.6% 406-58425-000 DEBT ISSUANCE COSTS - - - - - 0.0% Total Expenses (837,357) (950,671) (808,768) 913,020 1,033,812 1,984,483 108.7% Net Income (Loss) (34,033) 95 (804,798) (17,696) 6,627 51 2026 Budget 12/31/2024 12/31/2025 9/30/2025 12/31/2026 TID #7 Fund Account Number Account Name 2024 Actual 2025 Budget 2025 YTD 9/30 2025 Projected 2026 Budget FINAL Difference '25 Actual to '26 Budg. % Chg '25 Budg. to '26 Budg. REVENUES 407-41120-000 General Property Tax Increment 258,976 401,185 - 380,700 844,500 844,500 210.5% 407-43535-000 COMPUTER AID - - - - - 0.0% 407-43555-000 PERSONAL PROPERTY AID - 27,661 27,661 27,661 27,661 - 100.0% 407-48450-000 Transfer from Investments - 22,000 - - 0.0% 407-48110-000 INTEREST INCOME - - - - - 0.0% 407-48425-000 Miscellaneous Revenue 35,460 42,500 40,698 42,500 42,500 1,802 100.0% 407-48740-000 BONDS ISSUED - - - - - 0.0% 407-48741-000 PREMIUM ON DEBT ISSUED - - - - - 0.0% Total Revenues 294,436 493,346 68,360 450,861 914,661 846,302 185.4% EXPENDITURES 407-58100-200 Debt Service-Principal - - - - - 0.0% 407-58200-200 Debt Service-Interest - - - - - 0.0% 407-51300-200 ATTORNEY FEES (3,180) (7,500) (4,963) 7,500 7,500 2,537 100.0% 407-51400-300 ADMINISTRATIVE EXPENSE (15,000) (5,000) (5,000) 5,000 5,000 - 100.0% 407-51400-301 ADMINISTRATIVE EXPENSE-WAGES 12,949 (88,875) (35,678) 64,833 163,578 127,900 184.1% 407-51580-200 AUDIT FEE (1,500) (2,000) (2,000) 2,000 2,000 - 100.0% 407-51582-200 RCEDC Contract (8,215) (34,000) (25,446) 8,461 8,715 (16,731) 25.6% 407-51595-200 GENERAL ENGINEERING (90,440) (35,000) (14,801) 27,654 35,000 20,199 100.0% 407-53400-000 STREET INFRASTRUCTURE - - - - - 0.0% 407-54401-200 DOR FEE (150) (150) (150) 150 150 - 100.0% 407-54402-200 TID FORMATION - - - - - 0.0% 407-54405-200 Dev. Agreement (258,974) (320,000) (361,692) 361,691 680,000 318,308 212.5% 407-58425-000 DEBT ISSUANCE COSTS - - - - - 0.0% Total Expenses (364,510) (492,525) (449,729) 477,289 901,943 452,214 91.8% Net Income (Loss) (70,074) 821 (381,369) (26,428) 12,718 52 Enterprise Funds 53 2026 Budget 12/31/2024 12/31/2025 9/30/2025 12/31/2026 WATER BUDGET Account Number Account Name 2024 Actual 2025 Budget 2025 YTD 9/30 2025 Projected 2026 Budget FINAL Difference '25 Budget to '24 Actual Difference '26 Budget to '25 Budget Difference '26 Budget to '25 Actual % Chg '25 Budg. to '26 Budg. REVENUES 600-42100-000 CAPITAL CONTRIBUTIONS 8,000 270,734 - 270,734 392,099 262,734 121,365 121,365 69.0% 600-46400-000 UNMETERED SALES - 2,500 97 2,500 250 2,500 (2,250) (2,250) 10.0% 600-46410-000 METERED SALES - RESIDENTIAL 631,125 650,000 514,046 650,000 660,000 18,875 10,000 10,000 101.5% 600-46411-000 METERED SALES - COMMERCIAL 113,182 165,000 80,537 165,000 170,000 51,818 5,000 5,000 103.0% 600-46412-000 METERED SALES - INDUSTRIAL 151,503 105,000 95,362 130,000 135,000 (46,503) 30,000 5,000 128.6% 600-46413-000 METERED SALES - PUBLIC 38,453 52,000 41,245 40,000 40,000 13,547 (12,000) - 76.9% 600-46414-000 METERED SALES - MULTI FAMILY 161,858 165,000 132,430 165,000 165,000 3,142 - - 100.0% 600-46420-000 PRIVATE FIRE PROTECTION 12,733 20,000 14,553 20,000 20,000 7,267 - - 100.0% 600-46425-000 PUBLIC FIRE PROTECTION 423,864 425,000 319,946 425,000 427,500 1,136 2,500 2,500 100.6% 600-46435-000 PENALTIES 8,675 2,800 5,341 4,000 4,500 (5,875) 1,700 500 160.7% 600-46436-000 BANK FEES 107 250 651 600 600 143 350 - 240.0% 600-46440-000 UTILITY PLANT LEASED 17,269 250,000 - - 232,731 (250,000) - 0.0% 600-46445-000 METER READING - FROM SEWER 6,473 6,000 - 6,000 6,000 (473) - - 0.0% 600-46446-000 MISCELLANEOUS - 1,000 - 1,000 500 1,000 (500) (500) 50.0% 600-46447-000 RECONNECTION FEES - 500 150 500 500 500 - - 100.0% 600-48110-000 INTEREST INCOME 31,278 10,000 20,912 20,391 20,000 (21,278) 10,000 (391) 200.0% 600-48111-000 MATERIALS SOLD 242 1,000 2,612 1,000 1,000 758 - - 100.0% 600-48135-000 Loan Proceeds - 427,266 - 1,140,368 427,266 713,102 1,140,368 252.0% 600-48210-000 Scrap - monies 229 - - - (229) - - 0.0% 600-48450-000 FROM RESERVES - 50,000 - 243,000 50,000 193,000 243,000 0.0% 600-49601-000 Transfer from Impact Fees - 180,000 - 20,000 180,000 (160,000) 20,000 0.0% 600-49602-000 Capital Cont-Impact Fees - - - - 0.0% Total Revenues 1,604,990 2,784,050 1,227,882 1,901,725 3,446,317 1,179,060 662,267 1,544,592 45.7% Less: CAPITAL CONTRIBUTIONS 8,000 270,734 - 270,734 392,099 262,734 121,365 121,365 MATERIALS SOLD 242 1,000 2,612 1,000 1,000 758 - - Loan Proceeds - 427,266 - - 1,140,368 427,266 713,102 1,140,368 Scrap - monies 229 - - - - (229) - - FROM RESERVES - 50,000 - - 243,000 50,000 193,000 243,000 Transfer from Impact Fees - 180,000 - - 20,000 180,000 (160,000) 20,000 Capital Cont-Impact Fees - - - - - - - - Total Op. Revs 1,596,519 1,855,050 1,225,270 1,629,991 1,649,850 258,531 (205,200) 19,859 54 Account Number Account Name 2024 Actual 2025 Budget 2025 YTD 9/30 2025 Projected 2026 Budget FINAL Difference '25 Budget to '24 Actual Difference '26 Budget to '25 Budget Difference '26 Budget to '25 Actual % Chg '25 Budg. to '26 Budg. EXPENDITURES 600-51300-200 ATTORNEY FEES 564 500 247 500 500 (64) - - 100.0% 600-51302-200 Attorney - Personnel - - - - - - - - 0.0% 600-51430-300 SUPPLIES & EXPENSES 12,024 6,500 3,562 6,500 7,280 (5,524) 780 780 112.0% 600-51430-310 SERVICE CONTRACTS 12,010 14,000 11,026 14,000 17,500 1,990 3,500 3,500 125.0% 600-51431-300 TESTS 10,184 12,100 4,565 5,000 12,100 1,916 - 7,100 100.0% 600-51432-300 HEALTH & SAFETY 2,522 3,000 854 3,000 3,360 478 360 360 112.0% 600-51433-300 TRAINING 3,576 5,000 4,850 7,500 10,000 1,424 5,000 2,500 200.0% 600-51436-300 MISCELLANEOUS 81 1,500 - 500 1,500 1,419 - 1,000 100.0% 600-51580-200 AUDIT 12,734 10,000 9,170 10,000 10,000 (2,734) - - 100.0% 600-51595-200 ENGINEERING FEES 23,556 10,000 21,053 12,000 15,000 (13,556) 5,000 3,000 150.0% 600-51930-200 PROPERTY INSURANCE 8,589 10,000 9,031 9,031 10,000 1,411 - 969 100.0% 600-51931-200 WORKERS COMP INSURANCE 7,184 5,600 5,600 5,600 5,600 (1,584) - - 100.0% 600-53105-110 ADMINISTRATION - SALARY 19,885 25,200 18,206 25,200 25,528 5,315 328 328 179.0% 600-53105-130 ADMINISTRATION BENEFITS 2,811 24,587 4,865 24,587 6,172 21,776 (18,415) (18,415) 82.4% 600-53106-110 UTILITY CLERK - WAGES 13,469 23,587 17,379 23,587 6,330 10,118 (17,257) (17,257) 107.4% 600-53106-130 UTLITY CLERK BENEFITS 5,795 9,143 8,827 9,143 4,020 3,348 (5,123) (5,123) 175.9% 600-53110-110 OPERATION LABOR 69,768 135,157 107,180 135,157 195,952 65,389 60,795 60,795 145.0% 600-53110-130 OPERATION BENEFITS 70,955 62,893 33,334 62,893 116,245 (8,061) 53,352 53,352 184.8% 600-53110-310 ELECTRIC 82,523 85,000 59,260 75,000 87,550 2,477 2,550 12,550 103.0% 600-53110-320 NATURAL GAS 2,712 5,300 3,310 6,500 7,500 2,588 2,200 1,000 141.5% 600-53110-330 TELEPHONE & INTERNET 1,720 2,000 1,930 2,500 2,900 280 900 400 145.0% 600-53110-340 WATER/SEWER/STORM 935 1,080 980 1,960 2,000 145 920 40 185.2% 600-53112-110 PUMPING MAINT LABOR 4,811 12,000 9,045 12,000 12,274 7,189 274 274 102.3% 600-53112-130 PUMPING MAINT BENEFITS 12,453 6,147 2,963 6,147 - (6,307) (6,147) (6,147) 0.0% 600-53115-110 DISTRIBUTION LABOR 106,992 53,963 49,631 53,963 66,284 (53,029) 12,321 12,321 122.8% 600-53115-130 DISTRIBUTION BENEFITS 31,662 29,113 14,778 29,113 - (2,548) (29,113) (29,113) 0.0% 600-53120-110 CUSTOMER LABOR 8,430 10,680 8,097 10,680 12,274 2,250 1,594 1,594 114.9% 600-53120-130 CUSTOMER BENEFITS 3,736 6,147 2,848 6,147 - 2,411 (6,147) (6,147) 0.0% 600-53340-301 VEHICLE FUEL 7,011 14,000 4,622 6,500 10,000 6,989 (4,000) 3,500 71.4% 600-53340-302 VEHICLE MAINTENANCE 3,504 4,000 495 2,500 4,480 496 480 1,980 112.0% 600-53340-303 EQUIPMENT REPAIR 3,459 5,000 70,466 5,000 5,000 1,541 - - 100.0% 600-53340-304 VEHICLE TOOLS - - - 2,000 - 2,000 2,000 0.0% 600-53345-300 SMALL EQUIPMENT & TOOLS - - - - 6,500 - 6,500 6,500 0.0% 600-53400-300 TREATMENT CHEMICALS 71,596 55,500 51,173 60,000 70,000 (16,096) 14,500 10,000 126.1% 600-53402-300 Distribution Supplies 656 10,000 490 5,000 10,000 9,344 - 5,000 100.0% 55 Account Number Account Name 2024 Actual 2025 Budget 2025 YTD 9/30 2025 Projected 2026 Budget FINAL Difference '25 Budget to '24 Actual Difference '26 Budget to '25 Budget Difference '26 Budget to '25 Actual % Chg '25 Budg. to '26 Budg. 600-53403-300 SCADA SYSTEM SUPPORT - 5,000 - 5,000 5,000 5,000 - - 100.0% 600-53405-300 TREATMENT MAINTENANCE 10,394 30,000 2,877 5,000 30,000 19,606 - 25,000 100.0% 600-53406-300 MAINTENANCE - PUMPING PLANT 7,487 15,000 16,900 20,000 20,000 7,513 5,000 - 133.3% 600-53407-300 MAINTENANCE - RESERVOIR 10 2,500 8,400 8,400 2,800 2,490 300 (5,600) 112.0% 600-53408-300 MAINTENANCE - MAINS 45,066 35,000 12,897 20,000 20,000 (10,066) (15,000) - 100.0% 600-53409-300 MAINTENANCE - SERVICES 507 5,000 2,427 5,000 5,000 4,493 - - 100.0% 600-53410-300 MAINTENANCE - METERS 13,787 30,000 18,861 30,000 15,000 16,213 (15,000) (15,000) 133.3% 600-53411-300 MAINTENANCE - HYDRANTS 627 4,000 - 1,000 4,000 3,373 - 3,000 100.0% 600-53413-300 OFFICE EXPENSE 3,000 3,000 3,000 3,000 3,000 - - - 100.0% 600-53414-300 OFFICE RENT 1,000 1,000 1,000 1,000 1,000 - - - 100.0% 600-53415-300 OFFICE SUPPLIES 1,287 1,000 1,049 1,046 1,000 (287) - (46) 100.0% 600-53420-300 REPLACEMENT FUND - 50,000 - 20,000 40,000 50,000 (10,000) 20,000 80.0% 600-53500-200 PSC ASSESSMENT 3,390 3,500 1,639 3,500 3,500 110 - - 100.0% 600-53520-200 PROPERTY TAX 152,550 165,000 165,000 165,000 197,001 12,450 32,001 32,001 100.0% 600-53700-200 Depreciation Expense 283,524 375,000 - 375,000 393,750 91,476 18,750 18,750 105.0% 600-53705-200 Depreciation on Cont. Plant 101,057 100,000 - 100,000 105,000 (1,057) 5,000 5,000 105.0% 600-55200-341 SPLASH PAD WATER - - 20,000 30,000 - - - (30,000) 0.0% 600-57100-300 CAPITAL ITEMS 400 878,000 24,532 878,000 1,553,733 877,600 675,733 675,733 167.3% 600-58100-200 DEBT SERVICE - PRINCIPAL 0 361,458 361,458 361,458 365,791 361,458 4,332 4,333 101.2% 600-58200-200 DEBT SERVICE - INTEREST 156,287 147,000 146,994 147,000 134,200 (9,287) (12,800) (12,800) 91.3% 600-58200-210 Paying Agent Fee - 400 - 400 400 400 - - 100.0% 600-58300-200 Amortization-Debt Issuance 5,758 5,758 - 5,758 5,758 - - - 100.0% Total Expenses 1,404,039 2,876,314 1,326,871 2,822,770 3,651,782 1,472,274 775,468 829,012 129.7% Net Income (Loss) 200,950 (92,264) (98,989) (921,045) (205,465) (293,214) (113,201) 715,580 Less: REPLACEMENT FUND - 50,000 - 20,000 40,000 50,000 (10,000) 20,000 PROPERTY TAX 152,550 165,000 165,000 165,000 197,001 12,450 32,001 32,001 Depreciation Expense 283,524 375,000 - 375,000 393,750 91,476 18,750 18,750 Depreciation on Cont. Plant 101,057 100,000 - 100,000 105,000 (1,057) 5,000 5,000 CAPITAL ITEMS 400 878,000 24,532 878,000 1,553,733 877,600 675,733 675,733 DEBT SERVICE - PRINCIPAL 0 361,458 361,458 361,458 365,791 361,458 4,332 4,333 DEBT SERVICE - INTEREST 156,287 147,000 146,994 147,000 134,200 (9,287) (12,800) (12,800) Paying Agent Fee - 400 - 400 400 400 - - Amortization-Debt Issuance 5,758 5,758 - 5,758 5,758 - - - Total O&M 704,463.38 793,697.11 628,886.79 770,154.00 856,149.24 89,233.73 62,452.13 85,995.24 8% 56 Account Number Account Name 2024 Actual 2025 Budget 2025 YTD 9/30 2025 Projected 2026 Budget FINAL Difference '25 Budget to '24 Actual Difference '26 Budget to '25 Budget Difference '26 Budget to '25 Actual % Chg '25 Budg. to '26 Budg. 793,700.76 **CHANGES: 1. Reallocated wages & benefits from Admin to TID 4, Sewer & Storm 2. Reallocated wages & benefits from Utilty Clerk to TID 4, Sewer & Storm 3. Moved Maint-Meters parts to Capital Plan (split 50/50 water & sewer) 4. Moved Splash Pad water to General Fund 5. Decreased Maint-Mains to $20,000 57 2026 Budget 12/31/2024 12/31/2025 9/30/2025 12/31/2026 SEWER BUDGET Account Number Account Name 2024 Actual 2025 Budget 2025 YTD 9/30 2025 Projected 2026 Budget FINAL Difference '25 Actual to '26 Budg. % Chg '25 Budg. to '26 Budg. REVENUES 605-42100-000 CAPITAL CONTRIBUTIONS - 209,900 209,900 209,900 399,500 189,600 190.3% 605-46410-000 SEWER CHARGE - RESIDENTIAL 494,557 607,700 505,911 630,000 630,000 124,089 103.7% 605-46411-000 SEWER CHARGE - COMMERCIAL 345,723 401,200 331,352 435,000 435,000 103,648 108.4% 605-46412-000 SEWER CHARGE - INDUSTRIAL 21,858 35,400 18,343 24,000 25,000 6,657 70.6% 605-46413-000 SEWER CHARGE - PUBLIC 15,503 17,700 14,029 21,500 21,500 7,471 121.5% 605-46415-000 SEWER CHARGE - SWC 540,867 590,000 527,425 672,000 675,000 147,575 114.4% 605-46435-000 LATE CHARGE 1,731 2,500 3,857 4,000 4,000 143 160.0% 605-46450-000 MISC OPERATING REVENUE 10,987 1,000 - - 250 250 25.0% 605-46455-000 MISC NON-OPERATING REVENUE 325,000 450,000 195,000 450,000 125,000 (70,000) 27.8% 605-48110-000 INTEREST INCOME 60,429 20,000 39,385 40,000 35,000 (4,385) 175.0% 605-48450-000 From Investments - 100,000 - 100,000 100,000 100,000 100.0% 605-48135-000 Loan Proceeds - - - 104,000 104,000 100.0% Total Revenues 1,816,655 2,435,400 1,845,202 2,586,400 2,554,250 709,048 104.9% EXPENDITURES 605-51300-200 ATTORNEY FEES (38,112) (32,000) (208) 2,000 5,000 4,792 15.6% 605-51430-300 OPERATING SUPPLIES (4,958) (7,000) (4,283) 7,500 8,000 3,717 114.3% 605-51430-310 SERVICE CONTRACTS (2,800) (10,000) (8,463) 10,000 12,000 3,537 120.0% 605-51430-320 DRAINAGE DISTRICT CONTRACT - - - - - - 0.0% 605-51431-300 INFLUENT/EFFLUENT TESTING (15,057) (13,500) (16,034) 18,000 20,000 3,966 148.1% 605-51435-300 TRAINING (2,369) (5,000) (2,522) 5,000 5,750 3,228 115.0% 605-51436-300 MISCELLANEOUS EXPENSE (1,216) (3,000) (110) 500 3,000 2,890 100.0% 605-51440-300 TELEVISING - (10,000) (12,525) 13,000 15,000 2,475 150.0% 605-51580-200 AUDIT (8,500) (6,000) (5,000) 6,000 6,000 1,000 100.0% 605-51595-200 ENGINEERING (39,960) (5,000) (16,283) 5,000 10,000 (6,283) 200.0% 605-51610-340 WATER/SEWER/STORM (21,716) (30,000) (20,575) 30,000 32,000 11,425 106.7% 605-51930-200 PROPERTY INSURANCE (26,850) (30,000) (28,220) 28,220 30,000 1,780 100.0% 605-51935-200 WORKERS COMP INSURANCE (13,855) (10,800) (10,800) 10,800 10,800 - 100.0% 605-53105-110 ADMINISTRATION - SALARY (21,284) (25,200) (14,047) 25,200 13,689 (358) 54.3% 58 2026 Budget 12/31/2024 12/31/2025 9/30/2025 12/31/2026 SEWER BUDGET Account Number Account Name 2024 Actual 2025 Budget 2025 YTD 9/30 2025 Projected 2026 Budget FINAL Difference '25 Actual to '26 Budg. % Chg '25 Budg. to '26 Budg. 605-53105-130 ADMINISTRATION BENEFITS (2,811) (15,776) (3,377) 6,614 6,173 2,796 39.1% 605-53106-110 UTILITY CLERK - WAGES (13,469) (14,742) (9,102) 14,742 6,330 (2,772) 42.9% 605-53106-130 UTILITY CLERK BENEFITS 1,205 (9,143) (3,985) 9,143 4,020 35 44.0% 605-53110-310 ELECTRIC (121,738) (148,000) (91,065) 148,000 168,000 76,935 113.5% 605-53110-320 NATURAL GAS (3,250) (6,400) (2,940) 6,400 7,125 4,185 111.3% 605-53110-330 TELEPHONE & INTERNET (2,484) (3,000) (183,831) 3,200 4,000 (179,831) 133.3% 605-53210-110 LABOR (172,452) (240,554) (104,960) 234,554 241,438 136,478 100.4% 605-53210-130 LABOR BENEFITS (52,981) (122,967) (335) 32,159 132,976 132,641 108.1% 605-53210-201 HEALTH & SAFETY (1,143) (3,400) 3,400 3,400 3,400 100.0% 605-53340-300 EQUIPMENT (11,325) (30,000) (12,579) 20,000 33,600 21,021 112.0% 605-53340-301 VEHICLE FUEL (3,605) (12,000) (5,049) 5,500 6,000 951 50.0% 605-53340-302 VEHICLE MAINTENANCE (1,134) (4,000) (2,110) 4,000 4,480 2,370 112.0% 605-53340-306 EQUIPMENT REPAIR - - - 10,000 10,000 0.0% 605-53340-305 VEHICLE TOOLS - - - 2,000 2,000 0.0% 605-53345-300 SMALL EQUIPMENT & TOOLS - - - - 6,500 6,500 0.0% 605-53400-300 CHEMICALS (76,129) (69,000) (60,398) 75,000 100,000 39,602 144.9% 605-53408-300 MAINTENANCE - SEWER MAINS - - - 5,000 5,000 0.0% 605-53413-300 OFFICE EXPENSE (3,000) (3,000) (3,027) 3,027 3,000 (27) 100.0% 605-53414-300 OFFICE RENT (1,000) (1,000) (1,000) 1,000 1,000 - 100.0% 605-53415-300 OFFICE SUPPLIES (1,326) (1,000) (1,500) 1,465 1,000 (500) 100.0% 605-53420-300 REPLACEMENT FUND - (100,000) (49,024) 100,000 100,000 50,976 100.0% 605-53600-300 SCADA SYSTEM SUPPORT - (35,000) (11,290) 20,000 35,000 23,710 100.0% 605-53601-300 LAB SUPPLIES & MAINTENANCE (10,729) (10,000) (9,994) 13,000 15,000 5,006 150.0% 605-53602-300 BUILDING MAINTENANCE (3,580) (13,500) (1,662) 5,000 15,000 13,338 111.1% 605-53603-300 TREATMENT PLANT MAINTENANCE (25,333) (67,200) (36,962) 35,000 75,000 38,038 111.6% 605-53604-300 SLUDGE DISPOSAL (48,816) (67,200) (34,110) 50,000 67,200 33,090 100.0% 605-53605-300 LIFT STATION/WET WELL CLEANING (137) (10,000) (4,698) 10,000 10,000 5,302 100.0% 605-53606-300 SEWER SYSTEM (16,895) (30,000) (6,419) 15,000 30,000 23,581 100.0% 605-53607-300 METER TESTING - (3,000) - 3,000 3,000 3,000 100.0% 605-53608-200 DNR FEES (7,279) (13,500) (7,520) 13,500 15,120 7,600 112.0% 605-53608-300 OTHER GENERAL EXPENSE (6,473) (100) (6,085) 100 100 (5,985) 100.0% 59 2026 Budget 12/31/2024 12/31/2025 9/30/2025 12/31/2026 SEWER BUDGET Account Number Account Name 2024 Actual 2025 Budget 2025 YTD 9/30 2025 Projected 2026 Budget FINAL Difference '25 Actual to '26 Budg. % Chg '25 Budg. to '26 Budg. 605-53609-200 HAZARDOUS MATERIAL REPORTING - (250) - - 250 250 100.0% 605-53700-200 Depreciation Expense (563,677) (555,000) - 555,000 582,750 582,750 105.0% 605-57100-300 CAPITAL ITEMS (0) (209,000) (9,717) 209,000 503,500 493,783 240.9% 605-58100-000 DEBT SERVICE - PRINCIPAL - (280,000) (55,000) 280,000 290,000 235,000 103.6% 605-58200-200 DEBT SERVICE - INTEREST (79,230) (71,630) (36,584) 71,630 62,680 26,096 87.5% 605-58200-210 Paying Agent Fee - (400) - 400 400 400 100.0% 605-58300-200 AMORTIZATION - DEBT ISSUE 1,236 (1,236) - 1,236 1,236 1,236 100.0% 605-59104-300 Transfer to TID4 - - - - - - 0.0% 605-59200-000 TRANSFER OUT - GENERAL FUND (18,442) - (51,632) 51,632 - (51,632) 0.0% Total Expenses (1,442,674) (2,338,498) (945,027) 2,162,922 2,723,517 1,778,490 116.5% Net Income (Loss) 373,982 96,902 900,176 423,478 (169,267) Budget Reduction: $29,933 (199,200)$ 60 2026 Budget 12/31/2024 12/31/2025 9/30/2025 12/31/2026 STORM BUDGET Account Number Account Name 2024 Actual 2025 Budget 2025 YTD 9/30 2025 Projected 2026 Budget FINAL Difference '25 Actual to '26 Budg. % Chg '25 Budg. to '26 Budg. REVENUES 610-42100-000 CAPITAL CONTRIBUTIONS 299,334 50,000 - 50,000 15,000 15,000 0.0% 610-46435-000 PENALTIES 581 1,000 1,292 1,000 1,000 (292) 100.0% 610-46446-000 MISCELLANEOUS INCOME - - - - 0.0% 610-46470-000 ERU REVENUES 289,951 310,650 305,044 406,024 400,000 94,956 128.8% 610-46475-000 Drainage District Charge SWC - - - - 0.0% 610-48110-000 INTEREST INCOME 1 1 0.45 1 1.00 1 0.0% 610-48110-100 Drainage Assmt - SWC - - - - 0.0% 610-49900-000 Transfer in - - - - 0.0% 610-48135-000 Loan Proceeds - - - 310,000 310,000 0.0% Total Revenues 589,867 361,651 306,336 457,025 726,001 419,665 200.7% EXPENDITURES 610-51300-200 LEGAL (38,112) (32,000) (208) 20,000 5,000 4,792 15.6% 610-51430-300 OFFICE SUPPLIES - - - - - 0.0% 610-51430-310 SERVICE CONTRACTS (2,800) (8,000) (3,609) 8,000 8,000 4,391 100.0% 610-51430-320 DRAINAGE DISTRICT - (4,000) - - - - 0.0% 610-51430-330 DNR FEES - (100) (359) 400 1,000 641 1000.0% 610-51430-340 HEALTH & SAFETY (57) (1,000) - 1,000 1,000 1,000 100.0% 610-51435-300 TRAINING (389) (1,000) - 1,000 2,000 2,000 200.0% 610-51436-300 MISCELLANEOUS - (500) - - 500 500 100.0% 610-51580-200 AUDIT (8,500) (5,000) (5,000) 5,000 5,000 - 100.0% 610-51595-200 ENGINEERING (8,273) (2,500) (5,183) 5,500 5,000 (183) 200.0% 610-51930-200 INSURANCE (673) (730) (711) 711 700 (11) 95.9% 610-51931-200 WORKERS COMP INSURANCE (7,184) (5,600) (5,600) 5,600 6,000 400 107.1% 610-53105-110 ADMINISTRATION - SALARY (16,747) (16,537) (6,662) 17,000 2,983 (3,679) 18.0% 610-53105-130 ADMINISTRATION BENEFITS (3,416) (6,615) (1,496) 1,933 437 29.2% 61 Account Number Account Name 2024 Actual 2025 Budget 2025 YTD 9/30 2025 Projected 2026 Budget FINAL Difference '25 Actual to '26 Budg. % Chg '25 Budg. to '26 Budg. 610-53106-110 UTILITY CLERK - WAGES (13,469) (14,742) (9,102) 13,000 6,330 (2,772) 42.9% 610-53106-130 UTILITY CLERK BENEFITS 1,205 (9,143) (3,985) 9,143 4,020 35 44.0% 610-53110-310 ELECTRIC (1,000) (2,000) (2,000) 2,000 2,100 100 105.0% 610-53110-320 Natural Gas - - - - - 0.0% 610-53110-330 Telephone - - - - - 0.0% 610-53210-110 STORMWATER LABOR (37,121) (77,458) (52,904) 45,000 77,336 24,432 99.8% 610-53210-130 STORMWATER LABOR -BENEFITS (16,733) (35,070) (26,438) 14,669 38,750 12,312 110.5% 610-53340-300 MISC SUPPLIES & EQUIPMENT (214) (1,200) (1,063) 1,000 1,350 287 112.5% 610-53340-301 VEHICLE FUEL (3,475) (12,000) (4,034) 3,500 6,000 1,966 50.0% 610-53340-302 VEHICLE MAINTENANCE (332) (1,000) - 500 1,000 1,000 100.0% 610-53340-303 EQUIPMENT REPAIR (5,376) (8,000) (7,168) 7,500 9,000 1,832 112.5% 610-53340-500 STORM WATER TAX (175) (125) - 125 185 185 148.0% 610-53414-300 OFFICE RENT (3,000) (3,000) (3,000) 3,000 3,000 - 100.0% 610-53415-300 OFFICE EXPENSE (1,000) (1,000) (1,019) 1,000 1,000 (19) 100.0% 610-53700-200 Depreciation Expense (168,765) (170,000) - 170,000 178,500 178,500 105.0% 610-53805-300 MAINTENANCE OF STORM SEWER (968) (5,000) - - 5,000 5,000 100.0% 610-53810-300 CURB & GUTTER MAINTENANCE (9,550) (10,000) (5,200) 5,500 10,000 4,800 100.0% 610-53815-300 BASIN MAINTENANCE 9,229 (12,000) (377) 5,000 10,000 9,623 83.3% 610-53825-300 STREET SWEEPINGS TO LANDFILL - (5,000) (4,026) 5,000 8,500 4,475 170.0% 610-53835-300 CULVERT & DITCH REPAIRS - (5,000) - 5,000 - - 0.0% 610-57100-300 CAPITAL PROJECTS (2,395) (50,000) - 50,000 325,000 325,000 650.0% 610-58100-000 DEBT SERVICE - PRINCIPAL - (10,000) (10,000) 10,000 10,000 - 100.0% 610-58200-200 DEBT SERVICE - INTEREST (10,171) (9,870) (9,870) 7,620 9,470 (400) 95.9% 610-58200-210 Paying Agent Fee - (400) - 400 400 100.0% 610-58510-200 CONTINGENCY FUND - - - - - 0.0% Total Expenses (349,462) (525,590) (169,014) 422,768 746,057 577,043 141.9% Net Income (Loss) 240,405 (163,939) 137,323 34,257 (20,056) Budget Reduction: $119.00 (20,175)$ 62 Capital Improvement Plans 63 Capital Improvement Project Request Form 1. Department: Streets/Water/Wastewater/Storm 2. Responsible Person: Connor LaPointe 3. Project Name: High Street (7th avenue to 10th avenue) 4. Category: Reconstruction 5. Description: Full reconstruction of High Street between 7th Avenue and 10th Avenue, including replacement of pavement, curb and gutter, water main, and sewer main. The project will also incorporate stormwater system improvements and installation of a new sidewalk to provide pedestrian access to the new splash pad amenity at Leider Park. 6. Justification: High Street has a pavement rating of 6 and was last installed in 2006. While the pavement condition remains fair, the underground utility infrastructure is clay and very old, with a history of many main breaks in this area. Reconstructing the street now, in coordination with utility replacement, will reduce future service disruptions and avoid cutting into new pavement later. The project also provides a new sidewalk connection, improving safety and accessibility by linking the neighborhood to the splash pad at Leider Park. 7. Funding Sources: 2026 Revenue Notes (Utility Portion) 2026 GO Notes (Pavement Portion) 8. Estimated Cost: $1,584,000 64 9. Photographs of Existing Conditions: 65 Capital Improvement Project Request Form 1. Department: Streets/Stormwater 2. Responsible Person: Connor LaPointe, Village Administrator 3. Project Name: 8th Avenue (High St. to Community Garden) 4. Category: Reconstruction 5. Description: Reconstruction and expansion of 8th Avenue from High Street to the Community Garden. The project will replace deteriorated pavement, construct a turnaround at the dead end, and expand the roadway to support parking needs. The improvements will provide additional parking for the Community Garden, Leider Park, and Oak Ridge Care Center. 6. Justification: 8th Avenue has a pavement rating of 3 and is in poor condition. While no utility replacements are needed, the roadway requires reconstruction to maintain safe access. The project also addresses increased parking demand for nearby community amenities and adds a turnaround at the dead end to improve traffic circulation and safety. 7. Funding Sources: 2026 Revenue Notes (storm portion) 2026 GO Notes (pavement portion) 8. Estimated Cost: $183,000 66 9. Photographs of Existing Conditions: 67 Capital Improvement Project Request Form 1. Department: Streets/Stormwater 2. Responsible Person: Connor LaPointe 3. Project Name: 67th Drive (Highway 11 to 58th Road) 4. Category: Reconstruction 5. Description: Reconstruction of 67th Drive from Highway 11 to 58th Road, including full pavement replacement, culvert replacement, drainage improvements, and related public infrastructure work. The project scope also includes regrading ditches, adjusting manholes, installing storm sewer, binder mat, guardrail, pavement marking, and driveway joint restoration. A new sidewalk will also be installed from the shopping center to the White River State Trail crossing, creating a pedestrian link between the commercial area and the regional trail system. 6. Justification: 67th Drive is a high-traffic roadway jointly maintained by Union Grove and Yorkville. The road surface is experiencing severe asphalt deterioration and requires full reconstruction to restore safety and reliability. The project also addresses drainage issues and related infrastructure to extend the life of the roadway. In addition, the new sidewalk connection will improve pedestrian access and safety by linking key community destinations with the White River State Trail. 7. Funding Sources: Local Road Improvement Program 2026 Revenue Notes 2026 GO Notes 8. Estimated Cost: $874,000 68 9. Photographs of Existing Conditions: 69 Capital Improvement Project Request Form 1. Department: Public Works 2. Responsible Person: Connor LaPointe 3. Project Name: 67th Drive Trestle Removal 4. Category: Demolition 5. Description: This project will remove the abandoned railroad trestle crossing on 67th Drive, just south of the Union Grove Wastewater Treatment Plant. The scope includes demolition and removal of the trestle structure, roadway restoration, and regrading of the White River State Trail to create a safe, accessible street-level crossing. Coordination with the Wisconsin DNR and Racine County will be required due to the trestle’s location over a waterway and its connection to the regional trail system. 6. Justification: The railroad trestle is too low to safely accommodate certain vehicles, creating a clearance hazard. Planned roadway improvements on 67th Drive will raise the road profile for culvert replacement, further reducing the already limited clearance if the trestle remains in place. Removal of the trestle is necessary to resolve this conflict, improve roadway safety, and eliminate an obsolete structure. The project will also improve trail connectivity by regrading the White River State Trail to cross 67th Drive at street level, eliminating the current barrier and enhancing safety for pedestrians and bicyclists. 7. Funding Sources: 2026 GO Notes 8. Estimated Cost: $65,000 70 9. Photographs of Existing Conditions: 71 Capital Improvement Project Request Form 1. Department: Water 2. Responsible Person: Casey Stratton 3. Project Name: Well #3 Tower Rehabilitation 4. Category: Rehabilitation 5. Description: Rehabilitation of the 150,000-gallon Well #3 double ellipse water tower, including exterior and interior coating replacement, pit piping coating, cathodic protection installation, and associated structural and safety repairs. The project will also involve coordination with antenna carriers for temporary removal and reinstallation during construction. 6. Justification: The Well #3 tower requires rehabilitation to protect against corrosion, extend the service life of the structure, and maintain water quality. Recoating and repairs will prevent further deterioration, reduce long-term maintenance costs, and ensure compliance with safety and operational standards. 7. Funding Sources: 2026 Revenue Notes 8. Estimated Cost: $750,000 72 9. Photographs of Existing Conditions: 73 Capital Improvement Project Request Form 1. Department: Parks 2. Responsible Person: Kyle Cramer 3. Project Name: American Legion Park Playground Equipment 4. Category: Replacement 5. Description: Replace the outdated playground equipment at American Legion Park. The current metal slide, swing set, teeter-totter, and climbing structure have chipping paint, rust, and do not meet ADA standards. The project removes the old equipment and installs new ADA- compliant structures with proper safety surfacing. 6. Justification: The equipment is past its useful life and poses safety and maintenance concerns. New equipment will reduce repairs, meet accessibility requirements, and provide a safer, more usable play area for families who use the park. 7. Funding Sources: Capital Fund 8. Estimated Cost: $50,000 74 9. Photographs of Existing Conditions: 75 Capital Improvement Project Request Form 1. Department: Water 2. Responsible Person: Casey Stratton 3. Project Name: Well #3 Building Foundation Repair 4. Category: Repair 5. Description: The foundation wall of Well #3 is separating from the roof structure, causing structural instability. The recommended repair involves installation of helical piers to stabilize and reinforce the shallow foundation, including machine digging and concrete patching. The work includes eight piers total: five piers with machine dig and patching, and three piers with machine dig to a depth of four feet or less 6. Justification: This repair is necessary to ensure the continued safe operation of Well #3, which provides water service to the community. The separation of the wall from the roof poses a structural risk and, if left unaddressed, could lead to further deterioration, increased repair costs, or disruption of water service. 7. Funding Sources: Water Utility 8. Estimated Cost: $25,000 76 9. Photographs of Existing Conditions: 77 Capital Improvement Project Request Form 1. Department: DPW/Utilities 2. Responsible Person: Kyle Cramer/Casey Stratton 3. Project Name: Transfer and Replace 2020 Ford F250 4. Category: Fleet/Equipment Replacement 5. Description: Transfer the 2020 Ford F250 from Utilities to DPW to replace the 2011 Chevy pickup, which has reached the end of its replacement cycle. Utilities will receive a new replacement truck and accessory package, which is jointly budgeted by DPW, Water, and Wastewater. 6. Justification: The 2011 Chevy pickup in DPW's fleet has reached its scheduled replacement age and is due for retirement based on mileage, age, and maintenance considerations. Reassigning the 2020 Ford F250 will maintain DPW’s operational capacity while allowing Utilities to align fleet needs with upcoming maintenance and service priorities. This approach reduces immediate capital costs to DPW and coordinates funding across departments to meet organizational needs. 7. Funding Sources: Capital Fund: $30,000 Water Fund: $15,000 Wastewater Fund: $15,000 8. Estimated Cost: $60,000 78 9. Photographs of Existing Conditions: 79 80 Capital Improvement Project Request Form 1. Department: Wastewater 2. Responsible Person: Casey Stratton 3. Project Name: Replacement of 2006 Sewer Camera 4. Category: Equipment Replacement 5. Description: Replace the 2006 Pro Cam self-leveling sewer camera. The unit reached the end of its twenty-year replacement schedule and experienced a full equipment failure this year. A new camera will be used for routine inspections, maintenance planning, and locating breaks or blockages in the sanitary system. 6. Justification: The current camera is no longer functional and cannot be repaired cost- effectively due to age and parts availability. Reliable inspection equipment is needed to diagnose sewer issues, document conditions, and support capital planning. A replacement ensures the department can continue identifying infrastructure failures before they become costly repairs and reduces reliance on outside contractors. 7. Funding Sources: Wastewater Fund 8. Estimated Cost: $90,000 81 9. Photographs of Existing Conditions: 82 Capital Improvement Project Request Form 1. Department: Stormwater 2. Responsible Person: Kyle Cramer 3. Project Name: Replace 2001 Tarco Windy 100 Leaf Vac 4. Category: Replacement 5. Description: Replace the 2001 Tarco leaf vacuum with a new unit capable of supporting annual curbside leaf collection. The current equipment includes a deteriorated hose with multiple past repairs and temporary fixes. The original unit is twenty-four years old, far exceeding its seven-year replacement cycle. 6. Justification: The existing leaf vac is no longer reliable for peak collection periods and requires frequent maintenance to remain operational. Breakdowns during the fall season create service delays and additional labor costs. A new unit will reduce unplanned downtime, improve performance during the short collection window, and ensure equipment is in proper condition for long-term use. 7. Funding Sources: 2026 Revenue Notes 8. Estimated Cost: $50,000 83 9. Photographs of Existing Conditions: 84 Capital Improvement Project Request Form 1. Department: Wastewater 2. Responsible Person: Casey Stratton 3. Project Name: WWTP Office Roof Replacement 4. Category: Facility Replacement 5. Description: Fully replace the roof on the wastewater treatment plant office building. The existing roof is approximately twenty-three years old and has undergone numerous patches and temporary fixes. The project includes removing existing roofing materials and installing a new roof system suitable for the building and environmental conditions at the plant. 6. Justification: The current roof has exceeded its useful life and is no longer performing reliably. Continued patching is not cost-effective and increases the risk of leaks, which could damage office space, records, and equipment. A full replacement ensures long-term protection of the facility, reduces maintenance needs, and avoids emergency repairs. 7. Funding Sources: Wastewater Fund 8. Estimated Cost: $10,000 85 Capital Improvement Project Request Form 1. Department: Emergency Management 2. Responsible Person: Kyle Cramer 3. Project Name: Replace Siren Head at School Yard Park 4. Category: Replacement 5. Description: Install a new warning siren head at School Yard Park to replace the existing unit. Work includes removal of the current siren head and installation of a new compatible unit to ensure proper performance with the existing system. 6. Justification: The current siren head is due for replacement to maintain reliable operation of the Village’s emergency alert system. Updating the unit ensures continued coverage for residents in the service area and reduces the risk of mechanical failure during severe weather or emergency situations. 7. Funding Sources: Capital Fund 8. Estimated Cost: $12,220 9. Photographs of Existing Conditions: 86 Capital Improvement Project Request Form 1. Department: Stormwater 2. Responsible Person: Kyle Cramer 3. Project Name: Fox Creek Pond Erosion Control 4. Category: Erosion Control 5. Description: This project will stabilize the outlet and channel at Fox Creek Pond to address erosion issues. Work includes grading the channel to direct water flow, installing articulated concrete matting for slope and outlet protection, and securing the installation with anchors and trenching to prevent undermining. 6. Justification: Erosion at the outlet and channel is undermining stormwater infrastructure and reducing the effectiveness of the pond. If left unaddressed, the erosion could worsen and increase maintenance costs. Stabilizing the pond outlet will provide long-term protection, reduce sediment carried downstream, and improve overall stormwater system performance. 7. Funding Sources: 2026 Revenue Bonds 8. Estimated Cost: $15,000 87 9. Photographs of Existing Conditions: 88 Capital Improvement Project Request Form 1. Department: Wastewater 2. Responsible Person: Casey Stratton 3. Project Name: Replacement of 2016 72” Mower 4. Category: Equipment Replacement 5. Description: Replace the 2016 Exmark 72-inch mower used for grounds maintenance at the wastewater treatment plant. The unit is beyond its four-year replacement schedule and requires frequent repairs to remain operational. A new mower will continue supporting routine site maintenance and vegetation management around treatment infrastructure. 6. Justification: The existing mower has exceeded its intended service life and is no longer cost- effective to maintain. Reliable mowing equipment is necessary to keep vegetation controlled for access, safety, and regulatory compliance at the facility. Replacing the mower reduces downtime, lowers repair costs, and ensures the plant grounds remain properly maintained. 7. Funding Sources: Wastewater Fund 8. Estimated Cost: $16,000 89 9. Photographs of Existing Conditions: 90 Capital Improvement Project Request Form 1. Department: Administration 2. Responsible Person: Connor LaPointe 3. Project Name: Municipal Center Security Upgrades 4. Category: Improvement 5. Description: This project will replace the current access control system at the Municipal Center with a new vendor and updated software. The Village has not renewed the license with the existing provider and is seeking a new solution that offers reliable support and system functionality. The upgrades will also include installation of new security cameras with the ability to be monitored from desktop computers. The intent is to have both access control and video monitoring services provided by a single vendor for consistency, ease of management, and improved reliability. 6. Justification: The Municipal Center requires a security system that can be supported long term with dependable vendor service. The current system does not meet the Village’s operational needs, and without an active license it cannot be fully utilized. Transitioning to a new provider for both access control and cameras will ensure responsive support, reliable functionality, and a more efficient system for staff to manage. 7. Funding Sources: Property Tax Levy 8. Estimated Cost: $10,000 9. Photographs of Existing Conditions: 91 Capital Improvement Project Request Form 1. Department: DPW 2. Responsible Person: Kyle Cramer 3. Project Name: Replacement of 2003 Road Paint Striper 4. Category: Equipment Replacement 5. Description: Replace the 2003 Lazer Line 3900 Airless Road Paint Striper, which is beyond its replacement schedule. The operating screen is no longer functional and the bead box is deteriorated to the point where it is currently secured with a bungee cord. A new unit will support annual pavement marking and ongoing maintenance of Village roadways. 6. Justification: The current striper has exceeded its useful life and requires replacement to ensure consistent and safe roadway marking. The equipment’s mechanical issues limit reliability and increase staff time spent on workarounds and repairs. A replacement will improve efficiency, reduce downtime, and ensure quality striping for roadways, intersections, parks, and municipal facilities. 7. Funding Sources: Capital Fund 8. Estimated Cost: $5,300 92 9. Photographs of Existing Conditions: 93 Appendices 94 Union Grove Electors Municipal Judge Village President and Board of Trustees Village Administrator Deputy Administrator/ Clerk Deputy Clerk/Court Clerk Finance Director/Treasurer Deputy Treasurer/Utility Clerk Utilities Supervisor Water Operator Wastewater Operator Utility Operator Apprentice Public Works Supervisor Public Works Laborer Public Works Trainee Boards, Committees and Commissions *= Union Grove/Yorkville Fire Commission (which also has representatives from Village of Yorkville) oversees the Union Grove/Yorkville Fire Department, including the Fire Chief who supervises other department staff. The Police Commission oversees the contract with Racine Co. Sherriff’s Department for police protection services. The Library Board oversees the Graham Public Library, including the Library Director who supervises other library staff. 95 Fund Balance Policy Adopted: August 13, 2018 I. Statement of Policy. Sound financial management principles require that sufficient funds be retained by the Village to provide a stable financial base at all times. To provide for a stable financial base, the Village needs to maintain a General Fund Balance sufficient to meet cash flow requirements, to provide financial reserves for unanticipated expenditures, and/or revenue shortfalls of an emergency nature, and to provide funds for all existing encumbrances. The purpose of this policy is to specify the size and composition of the Village’s financial reserves and to identify requirements for replenishing any fund balance reserves utilized. II. Fund Balances. The Village’s General Fund balance is comprised of the following individual components: 1. Reserved Fund Balance. Reserved fund balance consists of portions of fund balance that are either legally restricted to a specific future use or are not available for appropriation or expenditure. Examples include amounts reserved for delinquent taxes, and for inventory of supplies and prepayments. 2. Unreserved Funds. Unreserved fund balance is subdivided into undesignated and designated portions. a. Undesignated funds. Represents available financial resources that can used to meet contingencies and working capital requirements. The Village will maintain a minimum undesignated fund balance of 25% for these purposes. The percentage of undesignated fund balance is determined by dividing that portion of the Village’s fund balance listed as undesignated by total General Fund expenditures as identified in the Village’s most recent audited financial statements. b. Designated funds. If the Village’s unreserved undesignated fund balance exceeds the minimum percentage required to be retained for cash flow and contingencies as specified in the preceding section, the Village Board may designate those excess amounts for specific purposes. The following are typical purposes for which uses of fund balance may be designated: 96 i. Transfer to Capital Projects Fund to pay for costs of capital equipment or capital improvements. ii. Transfer to the Debt Service. iii. Use to pay costs of Non-recurring expenditures as designated by the Village Board. III. Monitoring and Reporting. The Village Treasurer is responsible for monitoring Village fund balance levels, and shall annually prepare a report documenting the status of the fund balance for presentation to the Village Board in conjunction with the development of the annual budget. The report will provide recommendation for use of any unreserved, undesignated funds balances available that exceed amounts required to be retained for cash flow and contingency purposes. IV. Replenishment of Unreserved Fund Balances. If the amount of unreserved, undesignated fund balance falls below the 25% level, the Village Board must approve and adopt a plan to restore this balance to the target level within 24 months. If restoration of the fund balance cannot be accomplished within such period without severe hardship to the Village, then the Village Board will establish a different time period. 97 P urchasing Policy Adopted: August 12, 2019 I . P urpose T he purpose of this Policy is to provide safeguards for maintaining a procurement system of quality and integrity which is deserved by Village taxpayers for the fair and equitable treatment of all persons involved in public purchasing by the Village of Union Grove and to provide guidance and procedures to be followed for the procurement of goods and services for all departments. I I. O rganizations Affected T his policy applies to all procurements of supplies, services, and construction, entered into by the Village of Union Grove after the effective date of this Policy. It shall apply to all expenditures of public funds by a Village employee for Village purcha sing irrespective of the source of funds. When the procurement involves the expenditure of federal assistance or contract funds, the procurement shall be conducted in accordance with any mandatory applicable federal law and regulations. Nothing in this Policy shall prevent any Village employee from complying with the terms and conditions of any grant, gift, or bequest that is otherw ise consistent with law. I II. O bjectives T he objectives of the Village’s purchasing policy are: 1. T o ensure that materials, equipment, and services are purchased in a fair and equitable manner, consistent with quality and performance; 2. To provide adequate controls over Village expenditures and financial commitments with proper documentation; 3. To provide public confidence in the procedures used in public purchasing; 4. To determine the levels of approval necessary before purchasing contractual services (except professional services), material, and equipment for the Village, and; 5. To provide a standardized system of purchasing for use by all Village departments. 98 IV. Purchasing Agent The Village Administrator is hereby designated the Purchasing Agent for the Village. The Agent is hereby granted the authorit y to make all budgeted purchases in accordance with the provisions of this policy for all items not specifically requiring Village Board or Committee approval. For items requiring Village Board or Committee approval, the Agent is authorized to solicit bids or quotes for Village Board approval. The Agent may delegate authority to any designee for the preparation of specifications, the obtaining of quotations as may be required, and the purchase of items as specified in this policy. V. Responsibilities of the Village Treasurer 1. Ensure funds are available for purchases pursuant to the budget. 2. Ensure the account is accurate in amount and a proper charge against the treasury. 3. Ensure the goods or services were duly authorized by the designated responsible party. 4. Provide a report monthly of all expenditures to the Village Board and appropriate boards, committees and commissions. VI. Consider Local Businesses In an effort to support and help strengthen the economic base of the community, Village staff are encouraged to consider loca l businesses when obtaining quotes for goods and services. VII. Payment of Regular Wages or Salaries and Approved Village Contracts Regular wages or salaries of Village officers and employees shall be paid by the Village Treasurer, or designee, and verified by the Administrator. Village contracts shall be paid in a timely fashion as spelled out in the contract once approved by the Village Board. VIII. Purchases of budgeted items under $1,000. Department Heads are authorized to approve purchases of items under $1,000, provided that the Department Head has ensured that the purchase will not cause an overage to the department’s total budget for the year. The Department Head should make every effort to research prices and/or obtain quotes to ensure that the purchase price is reasonable. Approval from an appropriate Committee, Board or Commission is necessary for a purchase that causes an overage to the total departmental budget (except for routine operating expenditures). 99 IX. Purchases of budgeted items between $1,000 and $10,000.00. I f the estimated price of a budgeted item is between $1,000 and $10,000, prior approval from the Administrator is required. T he appropriate staff member should make every effort to solicit enough quotes in order to receive at least three, when practical. The quotes shall be presented to the Village Administrator for approval prior to ordering the item. Whenever it is in the best interest of the Village, the purchase shall be made based on the lowest quote. If the purchase is not made based on the lowest quote, the reasoning for purchasing from a vendor that did not provide the lowest quote must be documented. X. P urchases of non-budgeted items or services over $1,000. I f the price of an item is over $1,000 and the item is not included in the current budget, approval is required from the appropriate Village Committee. The appropriate staff person should make every effort to solicit enough quotes in order to receive at le ast three, when practical. If the purchase is not made based on the lowest quote, the reasoning for purchasing from a vendor that did not provide the lowest quote must be documented. X I. E mergency purchases of non-budgeted items over $1,000. E mergency purchases shall only be made: a. To prevent delays in construction or delivery of service or b. To address an immediate threat to the health or safety of the public and employees. F or emergency purchases of non-budgeted items or services with an estimated cost over $1,000.00, the appropriate staff member should make every effort to obtain three quotes for the item, when practical. The purchase shall be approved by the Administrator prior to ordering the item. In the Administrator’s absence, the purchase shall be approved by the Village President prior to ordering the item. Although no formal action is necessary, the Administrator shall make the Village Board aware of any emergency purchases that occur. X II. Purchases of $10,000.00 or more not covered by Sec. 62.15 Wisconsin Statutes. I f the estimated price of an item is over $10,000, approval to purchase the item is needed from the Village Board with a recommendation from the appropriate Village Committee. Every effort must be made to send out enough bids or quotation requests in order to receive a minimum of three (when practical) in order for the proper Village Committee to make a recommendation to the Village Board. Appropriate notices shall be published, plans and specifications shall be distributed, a nd 100 bids or quotations shall be opened and examined and a report shall be made to the appropriate Board Committee concerning the bids or quotations received. The report shall contain a recommendation concerning the bid or quotation to be accepted or rejected. If a bid or quotation other than the lowest bid or quotation is recommended, the report shall state the reasons for such recommendation. XIII. Public construction over $25,000. All public construction in which the estimated cost exceeds $25,000 shall be let by contract to the lowest responsible bidder. The bidding process shall incorporate the requirements in Section 62.15 and 66.0901 Wisconsin Statutes. Any project receiving only one bid shall be rebid unless it is approved by a three-fourths vote of the Board. The Village has the right to reject any and all quotes and/or bids. XIV. Change orders on public construction contracts. Whenever it is reasonably possible, a proposed increase in the cost of a public construction contract resulting from a change in the scope of the project shall be presented to the appropriate Village Committee and Village Board for approval provided that it will not result in a costly delay to the construction project. If the cost of delaying the project is prohibitive, change orders which are a result of a change in the scope of the project shall be approved by the appropriate staff member and the Administrator. The chairperson of the appropriate Village Committee shall be made aware of any change orders approved by a staff member. All change orders must be approved by the appropriate Village Committee and Village Board prior to final payment on the contract. 101 Capital Improvement Program Policy Adopted: August 12, 2019 I. Purpose To provide a decision -making process for the evaluation, selection and multi -year scheduling of public physical improvements based on a projection of available fiscal resources and the community’s priorities. II. Organizations Affected The Village of Union Grove has a substantial investment in buildings, equipment, parks and public infrastructure, including its utilities. Prudent management of these investments is the responsibility of Village government. In order to fulfill this responsibility but remain within fiscally prudent parameters, the Village has enacted this policy for development of the capital improvement budget. This policy applies to all capital budgets of the Village, including general Village functions and utility funds. III. Policy This policy establishes a Capital Improvement Program to: 1. Ensure the timely renewal and extension of the Village’s physical facilities; 2. Serve as the linkage in the Village’s planning for physical development between comprehensive plans and the annual budget process; 3. Maintain control over the Village’s long-term debt in relation to the Village’s financial capacity; 4. Ensure coordinated capital development. IV. Definitions 1. Capital Improvement Program (CIP) - A comprehensive and systematic program designed to facilitate the planning, budgeting and funding of all Capital Improvement Projects. This shall include the Equipment Replacement Program, as well as any projects which meet the below definition(s). 102 2. Capital Improvement Project Threshold - Projects meeting the below definition shall be included in the Capital Improvement Program document rather than the Operating Budget document, as determined by the Village Administrator. a. A project expected to have a useful life greater than five years and an estimated cost of $5,000 or more. Capital projects include the construction, purchase, or major renovation of buildings, utility systems, or other structures; purchase of land and major landscaping projects; purchase of machinery or equipment. 3. Capital Improvement Schedule - A summary schedule of all approved capital improvement projects. The program shall be a five-year period (at minimum). The program shall be annually revised. 4. Capital Improvement Plan - A comprehensive planning document including all approved projects in the five -year Capital Improvement Program. This document will include the Capital Improvement Schedule and the Equipment Replacement Schedule, as well as funding source information, linkages to other planning documents and other similar data and analysis. 5. Capital Budget - The capital budget includes those projects scheduled for activity and funding in the next budget year. The capital budget shall be presented annually by the Village Administrator to the Village Board, in conjunction with the normal budget process, for consideration and adoption. The source of financing for each project in the budget shall be identified. The capital budget and the Capital Improvement Schedule shall only include those project costs or portions thereof, that the Village is responsible for funding. This would include grant proceeds received on a reimbursement basis, but would not include non-local funding for which the Village does not need to front the money. 6. Capital Fund - To ensure proper accounting and financial management the Village shall create and maintain a Capital Fund for the purposes of financing and accounting for the cost of Capital Improvement Projects. This fund shall be accounted for in the Financial Statement of the Annual Auditor’s Report and will be maintained by the Village Treasurer. V. Schedule CIP requests shall be presented by the Village Administrator and/or the requesting department head to the Finance Committee during the budget preparation process – typically, in September of each year. Final consideration and adoption of the CIP by the Village Board may occur concurrently with the annual budget adoption or prior thereto. 103 VI. Project Prioritization A CIP Request Form shall be prepared by staff for each project being requested for the upcoming budget year. The request form shall include a justification statement for why the project deserves to be prioritized. Staff can refer to the following list of criteria that may help justify the reason for prioritizing a project: • P roject is mandated by local, State or Federal regulations. • Project is a high priority of the Village Board, based on the most current Comprehensive Plan or other subsidiary plans. • Project protects the health and safety of the Village, its residents, visitors and employees. • Project prevents irreparable damage to existing facilities. • Project leverages local funding with other non-local funding sources. • Project finishes a partially completed project • Project maintains service levels. • Project results in increased efficiency. • Project reduces operational costs. • Project significantly reduces losses in revenue or provides for significant increased revenues. • Project provides an expanded level of service or new public facility. V II. F inance Committee Criteria T he following items should be considered by the Finance Committee as criteria for determining how a project should be incorporated into the CIP: • Information provided on CIP Request Form (including photos and justification statement). • Cost in consideration of available funding, including non-local funding opportunities. • Compatibility with other Village planning documents. • Project benefits in relation to costs: o Projects directly affecting the health and safety of citizens shall have priority over all other projects o P rojects accruing benefits to a larger number of citizens shall have priority over projects benefiting a smaller number of citizens • Project operating costs - Projects will be evaluated on the basis of additions and/or savings to the Village's operating costs • Economic Development Impact - Projects will be evaluated on the basis of their overall impact on the Village's economic base, including the likelihood that the project will spur other private and public sector development, create new jobs or 104 assist in retaining current jobs, or otherwise positively impact the Village's economic base. • Project Readiness - Projects will be evaluated on the ability to move the project expeditiously to completion • Provide a balance of capital expenditures among the various service sectors. 105 Structurally Balanced Budget Policy Adopted: December 13, 2021 I. Purpose The purpose of this policy is to provide guidance in the preparation, monitoring, and amendment for the annual operating budget of the Village of Union Grove. The Village must live within means striking a balance between funding sources for operations a nd expenditures so the citizens may realize the benefits of a strong stable government. Budget structural balance where revenues and expenditures equal is the long-term goal of this policy. II. Fiscal Year The Village Budget for the Village follows a calendar year. Each year a draft of the budget shall be presented to the Village Board no later than the fourth Monday in October. Shortly after distribution of the draft Budget to the Village Board, an electronic version will be posted on the Village website. Budget deliberation and adoption shall take place no later than the fourth Monday in November, as prescribed by State statute and requires a simple majority vote. After adoption, the approved budget will be posted on the Village website replacing the proposed budget. III. Basis of Accounting The basis of accounting refers to the timing of revenue and expenditure recognition. With few exceptions, the budget is prepared on the same basis as the Village’s annual financial statements, which is the modified accrual basis for all governmental funds and the accrual basis for enterprise funds. Under the modified accrual basis, revenues are recognized when they become measurable and available and expenditures generally when the related liability is incurred. Under the accrual basis, revenues are recogn ized when they occur, regardless of the timing of related cash flows. One significant difference between the basis of accounting and the basis of budget is in the treatment of capital expenditures in the enterprise funds, which are included in line item ope rating expenditures for budget purposes. IV. Procedures There are several principles that the Village uses as guidance for the operating budgets. 106 1. Budget accountability rests primarily with the operating department of the Village with oversight by the Administrator. 2. Ongoing revenues shall equal or exceed ongoing expenses unless the drawdown of an individual fund’s balance is in compliance with the fund balance policy for that fund. One -time revenues shall only be used to fund one-time expenses to avoid a structural deficit in the future. If sufficient funds are not available (such as in a Tax Increment District), a plan for funding the shortfall shall be presented. 3. Budget control is monitored at the total fund level. Monies appropriated but not expended in the general fund, special revenue funds and utility enterprise funds lapse to the fund equity accounts unless carried over for a specific project (like capital projects as noted below). Any amounts earmarked for specific programs or purposes in special revenue funds that remain uncompleted are re-budgeted in the subsequent fiscal year. 4. Capital Project Fund budget expenditures appropriated for specific projects are carried forward as available until the project is completed or reassigned. 5. Enterprise funds (utilities) shall be supported by their own rates and specified revenue sources and not be subsidized by the General Fund. Enterprise funds will pay their share of overhead services provided by General Fund Department Personnel or Facilities. Enterprise fund operating surpluses will not be used to subsidize other Village Funds. 6. All general obligation debts will be paid through a general debt service fund, except for that incurred by an enterprise fund. Operating budgets will be prepared to meet the annual principal, interest, and service charge costs. Net debt service requirements (debt service expenditures less debt service revenue) will be funded through the general tax levy except for those amounts related to Tax Incremental Districts or Utility Funds. 7. The Village of Union Grove historically has not established definitive tax rate targets. Rather, the Village seeks to provide stable changes in tax bills and utility charges to its customers. This philosophy means that in developing the tax and fee components of the budget, the Village looks to provide annual increases that bear relationship to the rate of inflation and net new construction. 8. Budget requests will be submitted to the Administrator for analysis and compilation. Continuing operation budget requests will be required by August 1 including any Budget Request Forms for proposed changes for new personnel, programming, and equipment (te chnology included) to help the Administrator, Finance Committee and the Village Board understand requests. 9. The Administrator shall present a Village Budget proposal to the Village Board for its review, deliberation, amendment, and adoption. The Village Budget shall include proposals for all operating and capital funds. Following Village Board approval, the Adopted Budget and shall become the official budget for the following year. V. Budget Components 107 The budget shall also include a transmittal letter from the Administrator summarizing the major issues in the budget; a summary of personnel changes; a listing of all property tax rates; and a budget summary stating the total amounts of taxes levied for various purposes, the total amount of general obligation borrowing, and the total amount of revenue bond debt. T he budget shall include appropriation of the first year’s expenditures of the rolling five-year Capital Improvement Plan (CIP). Years two through five provide strategic planning information. Though expenditures for the first year of the CIP are appropriat ed, the Village can make additions to and deletions from the CIP during budget development. V I. A doption of budget D uring the period from August through October, one or more budget workshops will be held by the Finance Committee. Prior to review and approval of the budget by the entire Village Board, a public hearing on the budget will be held. Notice of this he aring will be published in the local newspaper of record at least 15 days prior to the hearing and will include a summary of the bud get and the date, time, and place of the public hearing, as prescribed by State statute. V II. Bu dget Amendment S hall be reported to the Village Board as action items. Transfers from the Reserve for Contingencies require a 2/3 majority v ote. Budget adjustments are generally required whenever expenditure authority needs to be redirected to a different purpose, increased, decreased, or shifted to a subsequent year. Following approval by the Village Board, the change will be recorded in the accounting system and a public notice will be published in the local newspaper of record. Receipts of unplanned revenues (grants, donations, insurance proceeds, reimbursements, etc.) that do not result in a need for additional expenditure authority do not require a budget adjustment. V III. Ca rryover of prior year budgeted expenditures R eappropriated funds may be used for prior year contracts, obligations, and uncompleted projects that are to be completed and/or paid in the following year. Reappropriation of unspent prior year authorizations for purposes other than their original designations shall be considered as Special Consideration items and require approval by two thirds of the Village Board. All other reappropriations shall require approval by a simple majority vote. The carryover request will be presented to the Village Board on or before its second meeting in March. Following approval by the Village Board, the additional appropriations will be recorded in the accounting system and a public notice of the change will be published in the local newspaper of record. 108 IX. Review of Policy This policy will be reviewed periodically following adoption at the direction of the Village Board. 109 Procurement Card Policy Adopted: December 13, 2021 I. Purpose To establish a methodology, and to define the limits for use, of Village issued procurement cards provided to certain Village employees to make purchases of goods and/or services. II. Definitions: • Account Statement: The monthly listing of all transactions posted to the cardholder’s account, issued by the Procurement Card vendor directly to the cardholder. • Cardholder: Personnel who have been issued procurement cards and who are authorized to make purchases in accordance with these procedures. • Village Treasurer: The individual assigned to perform overall program administration, including cardholder account maintenance, contract administration, final monthly account reconciliation, and departmental auditing. • PCPS: Procurement Card Purchasing System. • Rebate: Money paid back to the Village by the procurement card vendor based upon spending volume and other criteria, as provided for in the master contract. • Single Transaction Limit: A dollar amount limitation of purchasing authority delegated to a cardholder for each individual transaction. This dollar limit may vary from cardholder to cardholder, as agreed between the Treasurer and Village Administrator. • Vendor or Merchant: A company from which a cardholder is purchasing materials and/or equipment or services under the provisions of these procedures. III. Procedures This program is established to simplify the procurement and payment processes, and to reduce paperwork and handling costs, primarily for small purchases. By using the Procurement Card Purchasing System (PCPS), the traditional requisition process (establishing need, inquiring on prices, placing the order, delivery of goods, receipt of invoice, reconciling invoice to purchase order, paying vendor) is greatly reduced. Employees who are issued procurement cards may initiate transactions in person, by telephone or through the internet within the limits of these procedures and receive goods or services. The Village Treasurer will 110 make monthly settlements with the procurement card vendor. When using a procurement card, cardholders shall adhere to all provisions of the Village Purchasing Policy. I V. R eceiving a procurement card D epartment directors may request their personnel be issued cards by contacting the Administrator or Village Treasurer. The proposed cardholder will be issued a summary of these procedures and shall be required to complete and sign an Employee Agreement. T he agreement indicates that the cardholder understands these procedures and the responsibilities of a PCPS cardholder. T he Village Treasurer shall maintain all records of procurement card requests, limits, lost/stolen card information, fraud and dispute resolutions, and monthly signature/approval sheets. V . A uthorized procurement card use T he unique procurement card that the cardholder receives has his/her name embossed on it and shall ONLY be used by the cardholder. NO OTHER PERSON IS AUTHORIZED to use that card. The cardholder may make transactions on behalf of others in their department (example: training registrations); however, the cardholder is responsible for the use of his/her card. Us e of the procurement card shall be limited as follows: a ) The total value of a transaction shall not exceed a cardholder's single transaction limit. Preset electronic controls will cause a transaction to be declined when a cardholder’s authorized single transaction (or other) limit is being exceeded. b) Payment for a purchase SHALL NOT be split into multiple transactions to stay within the single transaction limit. Contact the Treasurer for limit increases to accommodate larger transactions. c) All items purchased "over the counter" should be immediately available at the time of procurement card use. No backordering of merchandise is allowed. Orders for future delivery may be placed, but vendors must not charge a card prior to shipment or delivery. d) Only authorized commodities or services may be purchased with a procurement card. See the next section for a listing of unauthorized uses. V I. Un authorized procurement card use a ) Personal purchases or identification. 111 b) Meals for travel when the per diem method of reimbursement is used. c) Cash advances. d) Fuel, unless necessary during authorized travel with a Village vehicle outside the area, or during an emergency within the area. e) Telephone calls. f) Alcohol or any other purchases or expenditures prohibited by Village policy. g) Charges for goods or services not immediately available. h) Individual departments may impose further restrictions at the discretion of the Director. A cardholder who makes unauthorized purchases or carelessly uses the procurement card may lose the privilege of future card use and will be liable for the total dollar amount of such unauthorized purchases plus any administrative fees charged by the procurement card vendor in connection with the misuse. The cardholder may also be subject to disciplinary action, up to and including termination. VII. Making a purchase Cardholders will utilize the following "checklist" when making a purchase: a) Ensure that the purchase complies with the Village’s Purchasing Policy. b) Once a vendor is identified and that vendor confirms that the goods or services are available, meet the specification, delivery and any other requirements, the following steps shall be taken: • Confirm that the vendor agrees to accept the procurement card. • Advise the vendor of the Village’s tax-exempt status. • It is very important that all purchases be shipped or delivered to the attention of the cardholder ordering the merchandise as this will ensure that the documents necessary for recordkeeping are readily available to the cardholder • If necessary, the individual who receives merchandise in the cardholder's department should be advised of the vendor's name and order number, anticipated delivery date, number of boxes expected, carrier (UPS, Fed Ex, or other). That individual should notify the cardholder when delivery is made. VIII. Cardholder and departmental record keeping 112 Whenever a procurement card purchase is made, either in -person, over the counter, by telephone or through the internet, documentation shall be retained as proof of the purchase. Such documentation will be used to verify the purchases listed on the cardholder's monthly account statement. When the purchase is made over the counter, the cardholder shall retain the invoice and "customer copy" of the receipt. Prior to signing or accepting this receipt, the cardholder is responsible for making sure that the vendor lists the quantity and fully describes the item(s) purchased, the receipt indicates payment by procurement card, and no sales tax has been charged. When the goods are received because of placing a telephone or internet order, all order confirmation and shipping documentation is to be retained. Cardholders may forward their statement with all documentation attached to the Village Treasurer once per month, or forward transaction receipts as received throughout the month. In either case, the cardholder shall be ultimately responsible for complete documentation of all charges and credits on their individual statements. If the cardholder does not have documentation of a transaction listed on the monthly statement, he/she shall attach an explanation that includes a description of the item(s) purchased, date of purchase, vendor's name and a reason for the lack of supporting documentation. This data attachment is critical to enable audit substantiation. IF THIS ROUTINE IS NOT ADHERED TO, THE AUTHORIZATION TO USE THE PROCUREMENT CARD MAY BE REVOKED. The c areful matching of complete support documents to the account statement is vital to the success of this program IX. Other items Tax Exemption: The cardholder shall inform the vendor of the Village’s tax-exempt status. The cardholder shall be responsible to make reasonable efforts, relative to the amount of tax charged, to recover sales tax charged by a vendor. Purchasing Card Returns: If an item is not satisfactory (such as, received wrong, damaged and/or defective, or duplicate orde r), the cardholder should contact the vendor to explain the problem and inquire about return policies. If an item has been returned and a credit voucher received, the cardholder shall verify that this credit is reflected on the monthly statement. If purchased items or credits are not listed on the monthly statement, the appropriate transaction documentation shall be RETAINED by the cardholder until the next monthly statement. If the purchase or credit does not appear on the statement within sixty (60) days after the date of purchase, the cardholder or approving supervisor shall notify the Village Treasurer to expedite the credit or file a dispute. X. Card security 113 It is the cardholder's responsibility to safeguard the procurement card and account number to the same degree that a cardholder safeguards his/her personal credit information. The cardholder must not allow anyone to use his/her account number. A violation of this trust will result in the cardholder having his/her card withdrawn and the initiation of disciplinary action. Any unauthorized or suspicious charges appearing on a cardholder’s account shall be immediately reported to the Village Treasurer. If the card is lost or stolen, the cardholder shall immediately notify the procurement card vendor, and shall notify the Village Treasurer by the next working day. A new card shall be promptly issued to the cardholder after the reported loss or theft. A card that is subsequently found by the cardholder after being lost shall be destroyed. XI. Cardholder separation Prior to separation from the Village, the cardholder shall surrender the procurement card and any current period documentation to his/her approving supervisor. Upon receipt, the approving supervisor will review the current charges for appropriateness, advise the Village Treasurer of the employee’s separation and destroy the card. 114 Village of Union Grove Procurement Care Employee Agreement I, _______________________________________, hereby request a procurement card. As a cardholder I agree to comply with the following terms and conditions regarding my use of the card. • I understand that I am being entrusted with a valuable tool - a procurement card - and will be making financial commitments on behalf of the Village of Union Grove • I understand that the Village of Union Grove is liable to the procurement card vendor for all charges made on the card. • I agree to use this card for approved purchases only and agree not to charge personal purchases. I understand the Village Treasurer will audit the use of this card and report and take appropriate action on any discrepancies. • I will follow established procedures for the use of the card. Failure to do so may result in revocation and/or other disciplinary action. • I have been given a copy of the purchasing policy and understand the requirements and limitations for the card's use. • I agree to return the card immediately upon request or upon termination of employment, including retirement. • If the card is lost or stolen, I agree to notify the procurement card vendor immediately, and the Village Treasurer by the next working day. • I understand that if personal purchases are discovered on the card, I will be held personally responsible for payment of such charges and will be subject to disciplinary actions up to and including discharge. _____________________________________________________ Employee Signature Date 115 Investment Policy Adopted: 2001 I. Policy It is the policy of the Village of Union Grove (hereafter referred to as the Village) to invest public funds in a manner whic h will provide the highest investment return with the maximum security while meeting the daily cash flow demands of the entity and conforming to all state and local statues governing the investment of public funds. II. Scope: This investment policy applies to all financial assets of the Village. These funds are accounted for in the Village of Union Grove’s Comprehensive Annual Financial Report and include: 2.1 Funds: 2.1.1 General Fund 2.1.2 Special Revenue Funds 2.1.3 Capital Project Funds 2.1.4 Enterprise Funds 2.1.5 Fiduciary and Agency Funds 2.1.6 Debt Service Funds III. Prudence: Investments shall be made with judgement and care – under circumstances then prevailing – which persons of prudence, discretion and intelligence exercise in the management of their own affairs, not for speculation, but for investment, considering the probable safety of their capital as well as the probable income to be derived. 3.1 The standard of prudence to be used by investment officials shall be the "prudent person" and/or "prudent investor" standard and shall be applied in the context of managing an overall portfolio. Investment officers acting in accordance with written procedures and the investment policy and exercising due diligence shall be relieved of personal responsibility for an individual security's credit risk or market price changes, provided deviations from expectations are reported in a timely fashion and appropriate action is taken to control adverse developments. 116 IV. Objective The primary objectives, in priority order, of the Village's investment activities shall be: 4.1 Safety: Safety of principal is the foremost objective of the investment program Investments of the Village shall be under taken in a manner that seeks to ensure the preservation of capital in the overall portfolio. 4.2 Liquidity: The Village's investment portfolio will remain sufficiently liquid to enable the Village to meet all operating requirements which might be reasonably anticipated. 4.3 Return on Investments: The Village's investment portfolio shall be designed with the objective of attaining a benchmark rate of return throughout budgetary and economic cycles, commensurate with the Village's investment risk constraints and the cash flow characteristics of the portfolio. V. Delegation of Authority Authority to manage the Village's investment program is derived from the following: Section 2-163, Municipal Code of the Village of Union Grove. Management responsibility for the investment program is hereby delegated to the Village Treasurer who shall be responsible for all transactions undertaken and shall establish a system of controls to regulate the activities of subordinat e officials, and their procedures in the absence of the Village Treasurer. 5.1 Investment Procedures: The Village Treasurer shall establish written investment policy procedures for the operation of the investment program consistent with this policy. The procedures should include reference to wire transfer agreements, banking service contracts and collateral/depository agreements. Such procedures shall include explicit delegation of authority to persons responsible for investment transactions. No person may engage in an investment transaction except as provided under the terms of this policy and the procedures established by official the Village Treasurer. VI. Ethics and Conflicts of Interest Officers and employees involved in the investment process shall refrain from personal business activity that could conflict w ith proper execution of the investment program, or which could impair their ability to make impartial investment decisions. Employees 117 and investment officials shall disclose to the Village Administrator any material financial interests in financial institutio ns that conduct business within their jurisdiction, and they shall further disclose any large personal financial/investment positio ns that could be related to the performance of the Village V II. A uthorized Financial Dealers and Institutions T he Village Treasurer will maintain a list of financial institutions authorized to provide investment services. A n annual review of the financial condition and registrations of qualified bidders will be conducted by the Treasurer. A current audited financial statement is required to be on file for each financial institution and broker/dealer in which the Village invests. V III. A uthorized & Suitable Investments T he Village is empowered by Sec. 66.0603, Wisconsin Statutes, to invest in the certain types of securities The Village has authorized, in accordance with the approved Resolution Designating Public Depositories, the use of time deposits and the local government investment pool. I X. I nvestment Pools/Mutual Funds A thorough investigation of the pool/fund is required prior to investing, and on a continual basis. The Village Board has authorized the use of the State of Wisconsin Local Government Investment Pool. X . C ollateralization C ollateralization will be required on two types of investments: certificates of deposit and time deposits. In order to antici pate market changes and provide a level of security for all funds, the collateralization level will be (102%) of market value of p rincipal and accrued interest. T he entity chooses to limit collateral to the following: --{list)-- C ollateral will always be held by an independent third party with whom the financial institution has a current custodial agreement. A clearly marked evidence of ownership (safekeeping receipt) must be supplied to the Village and retained. 118 The right of collateral substitution is granted. XI. Diversification The (entity) will diversify its investments by security type and institution with the exception of authorized pools, no more than 50% of the Village's total investment portfolio will be invested in a single security type or with a single financial institution. XII. Maximum Maturities To the extent possible, the Village will attempt to match its investments with anticipated cash flow requirements. Unless matched to a specific cash flow, the (entity) will not directly invest in securities maturing more than (____) years from the date of purchase Reserve funds may be invested in securities exceeding (_____) years if the maturity of such investments is made to coincide as nearly as practicable with the expected use of the funds. XIII Internal Control The Treasurer shall establish an annual process of independent review by an external auditor. This review will provide internal control by assuring compliance with policies and procedures. XIV Performance Standards The investment portfolio shall be designed with the objective of obtaining a rate of return throughout budgetary and economic cycles, commensurate with the investment risk constraints and the cash flow needs. XV Reporting The Treasurer shall provide the Village Board and the Village Administrator monthly investment reports which provide a clear picture of the status of the current investment portfolio. XVI Investment Policy Adoption 119 The Village's investment policy shall be adopted by resolution of the Village Board. The policy shall be reviewed annually by the Village Board and any modifications made thereto must be approved by the Village Board. XVII Glossary Because this policy is to be available to the public as well as the governing body, it is important that a glossary of related terminology be part of the policy GLOSSARY AGENCIES: Federal agency securities and/or Government-sponsored enterprises. ASKED: The price at which securities are offered. BANKERS' ACCEPTANCE (BA): A draft or bill or exchange accepted by a bank or trust company. The accepting institution guarantees payment of the bill, as well as the issuer. BENCHMARK: A comparative base for measuring the performance or risk tolerance of the investment portfolio. A benchmark should represent a close correlation to the level of risk and the average duration of the portfolio's investments. BID: The price offered by a buyer of securities. (When you are selling securities, you ask for a bid) See Offer. BROKER: A broker brings buyers and sellers together for a commission CERTIFICATE OF DEPOSIT (CD): A time deposit with a specific maturity evidenced by a certificate. Large-denomination CD's are typically negotiable COLLATERAL: Securities, evidence of deposit or other property which a borrower pledges to secure repayment of a loan. Also refers to securities pledged by a bank to secure deposits of public monies. COMPREHENSIVE ANNUAL FINANCIAL REPORT (CAFR): The official annual report for the Village of Union Grove. It includes five combined statements for each individual fund and account group prepared in conformity with GAAP. It also includes supporting schedules necessary to demonstrate compliance with finance-related legal and contractual provisions, extensive introductory material, and a detailed Statistical Section. COUPON: (a) The annual rate of interest that a bond's issuer promises to pay the bondholder on the bond's face value. (b) A certificate attached to a bond evidencing interest due on a payment date. DEALER: A dealer, as opposed to a broker, acts as a principal in all transactions, buying and selling for his own account DEBENTURE: A bond secured only by the general credit of the issuer. 120 DELIVERY VERSUS PAYMENT: There are two methods of delivery of securities: delivery versus payment and delivery versus receipt. Delivery versus payment is delivery of securities with an exchange of money for the securities. Delivery versus receipt is delivery of securities with an exchange of a signed receipt for the securities. DERIVATIVES: (1) Financial instruments whose return profile is linked to, or derived from, the movement of one or more underlying index or security, and may include a leveraging factor, or (2) financial contracts based upon notional amounts whose value is derived from an underlying index or security (interest rates, foreign exchange rates, equities or commodities) DISCOUNT: The difference between the cost price of a security and its maturity when quoted at lower than face value. A security selling below original offering price shortly after sale also is considered to be at a discount. DISCOUNT SECURITIES: Non-interest bearing money market instruments that are issued a discount and redeemed at maturity for full face value, e g, U.S. Treasury Bills. DIVERSIFICATION: Dividing investment funds among a variety of securities offering independent returns. FEDERAL CREDIT AGENCIES: Agencies of the Federal government set up to supply credit to various classes of institutions and individuals, e g, S&L's, small business firms, students, farmers, farm cooperatives, and exporters. FEDERAL DEPOSIT INSURANCE CORPORAT'ION (FDIC): A federal agency that insures bank deposits, currently up to $100,000 per deposit. FEDERAL FUNDS RATE: The rate of interest at which Fed funds are traded. This rate is currently pegged by the Federal Reserve through open-market operations. FEDERAL HOME LOAN BANKS (FHLB): Government sponsored wholesale banks (currently 12 regional banks) which lend funds and provide correspondent banking services to member commercial banks, thrift institutions, credit unions and insurance companies. The mission of the FHLBs is to liquefy the housing related assets of its members who must purchase stock in their district Bank. FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA): FNMA, like GNMA was chartered under the Federal National Mortgage Association Act in 1938. FNMA is a federal corporation working under the auspices of the Department of Housing and Urban Development (HUD). It is the largest single provider of residential mortgage funds in the United States. Fannie Mae, as the corporation is called, is a private stockholder-owned corporation. The corporation's purchases include a variety of adjustable mortgages and second loans, in addition to fixed-rate mortgages. FNMA's securities are also highly liquid and are widely accepted. FNMA assumes and guarantees that all security holders will receive timely payment of principal and interest. FEDERAL OPEN MARKET COMMITTEE {FOMC): Consists of seven members of the Federal Reserve Board and five of the twelve Federal Reserve Bank Presidents. The President of the New York Federal Reserve Bank is a permanent member, while the other Presidents serve on a rotating basis. The Committee periodically meets to set Federal Reserve guidelines regarding purchases and sales of Government Securities in the open market as a means of influencing the volume of bank credit and money. 121 FEDERAL RESERVE SYSTEM: The central bank of the United States created by Congress and consisting of a seven member Board of Governors in Washington, D.C, 12 regional banks and about 5,700 commercial banks that are members of the system. GOVERNMENT NATIONAL MORTGAGE ASSOCIATION {GNMA or Ginnie Mae): Securities influencing the volume of bank credit guaranteed by GNMA and issued by mortgage bankers, commercial banks, savings and loan associations, and other institutions. Security holder is protected by full faith and credit of the U.S. Government. Ginnie Mae securities are backed by the FHA, VA or FmHA mortgages. The term "pass-throughs" is often used to describe Ginnie Maes. LIQUIDITY: A liquid asset is one that can be converted easily and rapidly into cash without a substantial loss of value. In the money market, a security is said to be liquid if the spread between bid and asked prices is narrow and reasonable size can be done at those quotes. LOCAL GOVERNMENT INVESTMENT POOL {LGIP): The aggregate of all funds from political subdivisions that are placed in the custody of the State Treasurer for investment and reinvestment. MARKET VALUE: The price at which a security is trading and could presumably be purchased or sold. MASTER REPURCHASE AGREEMENT: A written contract covering all future transactions between the parties to repurchase-reverse repurchase agreements that establishes each party's rights in the transactions A master agreement will often specify, among other things, the right of the buyer-lender to liquidate the underlying securities in the event of default by the seller-borrower. MATURITY: The date upon which the principal or stated value of an investment becomes due and payable. MONEY MARKET: The market in which short-term debt instruments (bills, commercial paper, bankers' acceptances, etc.) are issued and traded OFFER: The price asked by a seller of securities. (When you are buying securities, you ask for an offer.) See Asked and Bid. OPEN MARKET OPERATIONS: Purchases and sales of government and certain other securities in the open market by the New York Federal Reserve Bank as directed by the FOMC in order to influence the volume of money and credit in the economy. Purchases inject reserves into the bank system and stimulate growth of money and credit; sales have the opposite effect. Open market operations are the Federal Reserve's most important and most flexible monetary policy tool. PORTFOLIO: Collection of securities held by an investor PRIMARY DEALER: A group of government securities dealers who submit daily reports of market activity and positions and monthly financial statements to the Federal Reserve Bank of New York and are subject to its informal oversight Primary dealers include Securities and Exchange Commission (SEC)-registered securities broker-dealers, banks, and a few unregulated firms PRUDENT PERSON RULE: An investment standard. In some states the law requires that a fiduciary, such as a trustee, may invest money only in a list of securities selected by the custody state-the so­ called legal list. In other states the trustee may invest in a 122 security if it is one which would be bought by a prudent person of discretion and intelligence who is seeking a reasonable income and preservation of capital. QUALIFIED PUBLIC DEPOSITORIES: A financial institution which does not claim exemption from the payment of any sales or compensating use or ad valorem taxes under the laws of this state, which has segregated for the benefit of the commission eligible collateral having a value of not less than its maximum liability and which has been approved by the Public Deposit Protection Commission to hold public deposits. RATE OF RETURN: The yield obtainable on a security based on its purchase price or its current market price. This may be the amortized yield to maturity on a bond the current income return. REPURCHASE AGREEMENT (RP OR REPO): A holder of securities sells these securities to an investor with an agreement to repurchase them at a fixed price on a fixed dale The security "buyer'' in effect lends the "seller'' money for the period of the agreement, and the terms of the agreement are structured to compensate him for this. Dealers use RP extensively to finance their positions. Exception: When the Fed is said to be doing RP, it is lending money, that is, increasing bank reserves. SAFEKEEPING: A service to customers rendered by banks for a fee whereby securities and valuables of all types and descriptions are held in the bank's vaults for protection. SECONDARY MARKET: A market made for the purchase and sale of outstanding issues following the initial distribution. SECURITIES & EXCHANGE COMMISSION: Agency created by Congress to protect investors in securities transactions by administering securities legislation. SEC RULE 15C3-1: See Uniform Net Capital Rule. STRUCTURED NOTES: Notes issued by Government Sponsored Enterprises (FHLB, FNMA, SLMA, etc) and Corporations which have imbedded options (e.g., call features, step-up coupons, floating rate coupons, derivative-based returns) into their debt structure. Their market performance is impacted by the fluctuation of interest rates, the volatility of the imbedded options and shifts in the shape of the yield curve. TREASURY BILLS: A non-interest bearing discount security issued by the U.S. Treasury to finance the national debt. Most bills are issued to mature in three months, six months, or one year. TREASURY BONDS: Long-term coupon-bearing U.S. Treasury securities issued as direct obligations of the U.S. Government and having initial maturities of more than 10 years. TREASURY NOTES: Medium-term coupon-bearing U S Treasury securities issued as direct obligations of the U.S. Government and having initial maturities from two to 10 years. UNIFORM NET CAPITAL RULE: Securities and Exchange Commission requirement that member firms as well as nonmember broker- dealers in securities maintain a maximum ratio of indebtedness to liquid capital of 15 to 1; also called net capital rule and net capital ratio. Indebtedness covers all money owed to a firm, including margin loans and commitments to purchase securities, 123 one reason new public issues are spread among members of underwriting syndicates. Liquid capital includes cash and assets easily converted into cash. YIELD: The rate of annual income return on an investment, expressed as a percentage (a) INCOME YIELD is obtained by dividing the current dollar income by the current market price for the security. (b) NET YIELD or YIELD TO MATURITY is the current income yield minus any premium above par or plus any discount from par in purchase price, with the adjustment spread over the period from the date of purchase to the dale of maturity of the bond. 124