Schaumburg, IL
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The Village of Schaumburg strives to provide up to date and detailed financial information. This can be difficult given the complex nature of village operations and accounting requirements. If you are interested in a specific aspect of your local government and its finances the best thing to do is contact us directly. However, we also are interested in providing you an overview of the village's finances here to help you understand the fiscal condition of the village.
Annual Budget
The village’s FY 24/25 Budget includes total revenues and other financing sources of $344.4 million and total expenditures and other financing uses of $341.2 million. Revenues and other financing sources are up 8.8% supporting the 12% increase in expenditures as compared to the FY 23/24 Amended Budget. The document meets ADA requirements and was approved at the April 23rd, 2024 Village Board Meeting.
Previous Annual Budgets
Capital Improvement Plan (CIP)
Schaumburg's Capital Improvement Plan (CIP) is a multiyear plan covering a five year period that helps the village budget for and schedule necessary capital improvement projects. This plan also sets the proposed capital expenditures for the fiscal year budget. The CIP addresses repair and replacement of existing infrastructure as well as the development or acquisition of new facilities, property, improvements and major equipment to accommodate community and organizational needs.
The FY 24/25 - 28/29 CIP establishes priorities and funding for the village’s capital improvement projects. Of the total $240.6 million five-year plan, the village anticipates securing $49.1 million in grant funding, leaving the village to fund approximately $191.5 million. Broken down by project type, the plan allocates 46.6% in funding to roadway improvements, 16.6% to water/sewer improvements and the remainder to make improvements to village buildings, bikeways, sidewalks, parking lots and other areas.
Additional information on major projects will be added to our construction page.
Previous CIP Plans