by Eric Peterson, Daily Herald
Schaumburg's first budget under Mayor-elect Tom Dailly -- and the last to receive input from retiring Mayor Al Larson -- will be reviewed by the village board during its committee-of-the-whole meeting Tuesday.
Both revenues and costs in the proposed budget are balanced at $255 million each, but the general fund for basic government services will have a $1.5 million surplus after transfers out to garbage pickup and recycling services, capital improvement projects and transportation programs, officials said.
Among the priorities in the proposed budget are street reconstruction, redevelopment near Algonquin Road and operational improvements.
One influence on the budget was the lowering of the village's property tax levy by 1 percent in December. The village's portion of property tax makes up just over 6 percent of a resident's tax bill.
The budget includes $8 million for nearly 29 miles of local street improvements. The village also is seeking Surface Transportation Program (STP) funding and other grants to assist in funding $26.3 million for improvements to 3.3 miles of major roadways, which will make the village's share $9.6 million.
Amid the redevelopment projects already under way between Algonquin Road and I-90 tollway, the village is moving forward with a Meacham Road corridor study to link the proposed entertainment district on the east side with the new Veridian development on the west side to improve accessibility for both pedestrians and motorists.
To view the proposed budget, visit the village of Schaumburg website at bit.ly/2cZqm0p.
The board meets at 6:30 p.m. Tuesday, April 16, in conference rooms A and B of the Al Larson Prairie Center for the Arts, 201 Schaumburg Court. A finalized version of the budget is expected to be approved by the village board on Tuesday, April 23, and take effect May 1.