A meeting of the Northbrook, Illinois Administration & Finance Committee took place this week on November 17.
Items on the agenda for discussion during the meeting included the Village capital improvement plan (CIP) and the 2015 property tax levy. Public comment was invited.
The CIP is part of the Village financial planning and reporting cycle. The CIP is the five-year overview of capital needs and costs, which is used during budget planning. The other parts of the financial cycle include the annual budget, monthly and quarterly reporting, and the comprehensive annual financial report.
During the discussion of the 2015 property tax levy, the Village staff will seek direction in preparing the ordinance (35-ILCS 200/18-70). If the proposed tax levy is more than 105 percent of the previous year's levy, the Village is required to publish notices and hold a public hearing before adopting the levy ordinance. The Village board will review the ordinance on December 8.
The committee will meet in the Terrance Room of the Village Hall at 1225 Cedar Lane, Northbrook. Individuals who need reasonable accommodations or have questions about the accessibility of the facilities are requested to contact Greg Van Dahm (847) 664-4014, Debbie Ford (847) 664-4013 or the TDD number, (847) 564-8645, for more information.
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