November 15, 2023
Lake County Board Adopts $640 Million Budget
The Lake County Board approved a $640 million Fiscal Year (FY) 2024 Budget at its November 14 meeting. The operating funds in the budget that fund most government services are balanced at $375.2 million.
The entire budget was developed in direct alignment with Lake County’s newly updated mission that strives to provide exceptional services and support for Lake County’s people, communities, and environments. The County Board established the guidelines and framework of the FY2024 budget concurrently while updating its strategic plan. The updated plan prioritizes safe communities, economic opportunities, adaptive infrastructure, a sustainable environment, healthy and inclusive communities, and superior County operations and services.
Some highlights in the budget include: a new Internal Audit Division; Regional Tree Initiative; a Gun Violence Prevention Specialist; and a Diversity, Equity, and Inclusion program which will support Lake County’s commitment to advancing, cultivating, and preserving a culture of diversity, equity, inclusion and belonging. The FY2024 budget also includes funding for presidential election year election costs and a compensation study. Despite these additions, the operating fund budgets are increasing only 4.8 percent over last year.
"The approved budget demonstrates the County Board's commitment towards investing in our talented employees and infrastructure while continuing to provide outstanding services for residents and be fiscally responsible," said Lake County Board Chair Sandy Hart.
After much discussion during the public budget hearings in October, Lake County opted to increase its property tax levy by 5 percent, the maximum amount allowed to ensure that adequate funding was available for employee compensation adjustments and other new program requests.
Individual tax bills will vary depending on how a property’s assessed value has changed and on the actions of other local government taxing bodies. The remaining Lake County portion of the tax bill for the average homeowner is expected to increase only a few dollars.
"Our joint budget committee meetings this year were some of the most efficient and collaborative budget meetings we have ever had," said Financial and Administrative Committee Chair Paul Frank. "I thank our department leaders, County Administrator Gibson, CFO Sutton and all the County Board Members for their work and contributions to this year's budget."
Lake County was awarded the Distinguished Budget Presentation Award by the Government Finance Officers Association of the United States and Canada (GFOA) for its FY2023 Budget. This award reflects Lake County’s commitment to meeting the highest principles of governmental budgeting and ensures that the budget includes nationally recognized guidelines for effective budget presentation. Lake County will apply for this award with its FY2024 Budget.
Chief Financial Officer Patrice Sutton expressed thanks for the leadership from the County Board and staff collaboration in preparing the FY2024 Budget. “This budget takes the cooperation of County staff from all departments and agencies, and special efforts from our Budget team. I am grateful for the shared commitment to providing outstanding services to residents, while being prudent and strategic with County resources.”
The FY24 budget is available for viewing at lakecountyil.gov/Budget.
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