Budget

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Elk Grove Village annually adopts a budget to guide the financial operations of the Village. The Village operates on a May 1 – April 30 Fiscal Year.

On April 8, 2025, the Mayor and Village Board approved the Fiscal Year 2026 Budget in the total amount of $253,630,213. The General Fund budget, which includes most of the Village's operational services (Fire, Police, and Public Works), was approved at $80,952,868. This represents a decrease of 5.5% from the previous fiscal year (with pension pass-throughs and transfers removed).

In 2024, Elk Grove Village continued to experience positive financial conditions and stability through strong business development activity, despite ongoing high inflation, supply chain issues, and a tight labor market. In 2024, the industrial vacancy rate hit a low of 1.9%, which marks nine consecutive years the Village has sustained a vacancy rate below 5%. In the first quarter of 2025, Elk Grove Village maintained a near-record low industrial vacancy rate of 1.96%. Rising sales tax, as well as consistent building permit fees, reflect a strong business climate.

An investment of approximately $810 million in private sector construction was permitted through the Village in Calendar Year 2024. New data center construction, expansion, and interior buildouts were the primary contributors to the historically large construction value. The new data center construction and expansion totaled approximately 1.1 million square feet of floor area. Several developments are under way in places such as 50 Northwest Point, where Aligned Data Center is constructing a 544,000-square-foot, three (3) story building, and 2055 Lunt Avenue, where EdgeConneX is constructing a 175,000-square-foot, two (2) story building. Additionally, The Vue, a large mixed-use development at the corner of Arlington Heights Road and E. Higgins Road, commenced construction in 2024. The overall development includes the construction of two (2) retail facilities, a five (5) story apartment building, and townhomes. These types of investments are what help the Village maintain a strong tax base and vibrant community.

The Elk Grove 2025 capital investment plan, a $125 million program designed to ensure the community thrives for decades to come, is now in its ninth year. In the first eight years of the program, the Village invested in major capital projects, including replacing the Clearmont Bridge, rehabilitating the Huntington Chase and Devon O’Hare lift stations, and completing construction of a new 500,000-gallon elevated water tank at 1601 Oakton Avenue. The FY2026 adopted budget includes several EGV 2025 projects, most notably $12.5 million into the Roadway Maintenance Program. The program improves 10.12 miles of streets in the Village, including $4 million for resurfacing and concrete rehabilitation of 6.5 miles of residential streets.

Community events and public education outreach programs will continue in 2025 after a successful return in 2024. We are planning, and have budgeted, for a full season of special events as we look forward to engaging with the community once again.

The development of the Fiscal Year 2026 Budget was guided by the goals of delivering high-quality, customer-focused services to residents while offering a beyond business-friendly approach to doing business in the Village. The budget serves as our road map to be the Exceptional Community.

Previous Adopted Budgets: