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The original item was published from 11/23/2020 2:10:00 PM to 11/28/2020 12:00:04 AM.

News & Announcements


Posted on: November 14, 2020

[ARCHIVED] Public Hearing on Proposed 2021 Village Budget


The proposed 2021 budget totals $51 million to fund a full-service municipality with 156 full-time employees at Police and Fire, Public Works, Community Development, Parks and Recreation, Finance, and Administration.

Despite rising market costs for commodities and services, personnel adjustments required by collective bargaining agreements, and funding for capital investment, the proposed 2021 budget represents a 6% decrease in expenditures compared to the 2020 budget.   The proposed 2021 budget shows a projected operations surplus of approximately $9,000 for the General Fund.

The proposed 2021 budget will not require drawing down the fund balance of the General Fund.  Living within our means for 2020 has resulted in a projected 2020 surplus of $8,000, bringing the fund balance to $11.4 million, of which an estimated $9.6 million will be unreserved funds, representing a 34% General Fund balance.   The Village’s fund balance policy is currently to maintain a minimum of 25% for the General Fund and a target of 40%. 

A copy of the proposed budget has been available for public review at Village Hall, Ela Area Public Library, and on the Village website since November 6, 2020.   View 2021 budget here.

A virtual public hearing on the 2021 budget proposal is scheduled for the Monday, December 7, 2021 Village Board meeting.


Written testimony and comments submitted to prior to the start of the meeting will be read into the official record.  Keep an eye on the Lake Zurich Meeting Calendar for the link to participate in the virtual meeting or watch it live on LZTV or Facebook Live. 

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