Contributed photo | www.lincolnshireil.gov
Contributed photo | www.lincolnshireil.gov
million Fiscal Year 2022 (FY 2022) Budget on December 13.
The annual budget communicates the Village’s priority projects and goals in 2022, including: 32
departmental goals, major infrastructure plans, cost cutting measures, and more.
“The FY 2022 Budget is a prime example of good governing and responsible stewardship of public funds,”
Elizabeth Brandt, mayor, said. “We made a deliberate effort to invest in long-term solutions to increase
sustainability while decreasing the negative effects of changing weather, implement new services to
improve the lives of current and future residents, and find ways to put money back into your pocket. 2022
is going to be an excellent year for the Village of Lincolnshire!”
The FY 2022 Budget is balanced with the use of reserve funds to assist in funding capital projects.
In total, the Village will receive over $31.5 million in revenue through taxes, fees, grants, and other
sources. While taxes are the primary revenue source for the FY 2022 Budget, Lincolnshire’s property tax is
significantly lower than seven surrounding communities, and is exclusively used for public safety and
police pension. The FY 2022 property tax rate will be maintained at 0.25 which equates to the Village
receiving less than 3% of the total property tax bill an average resident pays.
In fact, the majority of revenue collected from taxes comes from travel and leisure activities (e.g., sales,
food and beverage, room, and admission taxes) which typically affect non-residents.
The Village will expend over $33.9 million in FY 2022 on capital improvement projects, public safety, and
residential and commercial services. Of that, over $10.7 million will be spent in capital expenses to
improve and maintain general, road, park, water, sanitary sewer, and storm sewer operations.
2022 will also be the first year of the Village’s new waste hauler contract with LRS, and the
implementation of a dedicated storm sewer fund.
The Village’s new waste hauler contract will provide more services at a reduced cost compared to the
current waste hauler. On average, affected residents will save $93/year with LRS. LRS services begin
January 1, 2022.
Additionally, the Village Board approved the creation of the Storm Sewer Fund as a dedicated revenue
source to upgrade and maintain the Village’s storm sewer system. The Village’s goal is to reduce localized
flooding by investing more than $9 million into storm sewer capital improvements over 10 years all while
receiving less than $13/month from the average resident. The FY 2022 Budget calls for storm sewer
projects and engineering on Windsor Court, Lincolnshire Drive, and other neighborhoods surrounding
Spring Lake Park.
LINCOLNSHIRE FISCAL YEAR 2022 BUDGET//2-2-2//
“Lincolnshire will still feel the economic impact of the COVID-19 pandemic in FY 2022, including the loss of
$6 million in projected revenue between FY 2020 and 2022 due to less travel and leisure activity.
However, all reports are trending upwards, the local economy continues to improve each month, and I am
confident this budget will meet the needs of 2022 while still being fiscally responsible,” Matt Rossi, finance
director/village treasurer, stated.
Lincolnshire’s fiscal year aligns with the calendar year (January 1 – December 31). Village staff began
proposing and compiling the FY 2022 annual budget in July 2021. The budget proposal process includes
multiple workshops with leadership teams on the department and Village-wide levels, the Village Board of
Trustees, community organizations, and the general public.
In order to continue providing core services to the public, the Village took cost cutting measures in FY
2021 such as wage freezes, leaving multiple positions unfilled, decreased training and travel, delaying
capital projects, and reducing or eliminating part-time and seasonal employees.
The Village of Lincolnshire, 1957, is a northern suburb of Chicago and is conveniently adjacent to the TriState Tollway.
Lincolnshire is home to 7,940 residents, two nationally-recognized public school districts, and over 400 businesses –
a number of which are global headquarters and Fortune 500 companies.
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Enclosed: Fiscal Year 2022 Budget Breakdown
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