Budget

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Operating Budget and Five-Year Community Investment Plan

The Village of Mount Prospect is committed to responsible financial management, long-term planning, and transparency in the use of public funds. Each year, the Village develops an Operating Budget to fund the day-to-day services provided to the community and a Five-Year Community Investment Plan (CIP) to guide investments in infrastructure, facilities, equipment, and other long-term assets.

Proposed Five-Year Community Investment Plan (CIP)

The Village's Five-Year Community Investment Plan (CIP) provides a long-term framework for planning, prioritizing, and funding investments in the community's infrastructure and other long-lived assets. The CIP identifies capital needs and proposed investments over a five-year period. Projects may include improvements to streets, sidewalks, stormwater infrastructure, water and sewer systems, public buildings, vehicles, equipment, technology, parks, and other major community assets. The Five-Year CIP helps the Village take a proactive approach to capital planning by considering the condition and needs of existing assets, future infrastructure requirements, available funding sources, financial capacity, and the Village's strategic priorities. The Village currently has a proposed Five-Year Community Investment Plan for FY2027–FY2031, with FY2027 representing the first and most immediate year of the plan.

The proposed plan will be presented to the Village Board and Finance Commission at a joint workshop on August 18, 2026. The workshop will provide an opportunity to review proposed projects and funding sources, discuss community investment priorities, and receive direction as the Village continues its budget development process. The proposed Five-Year Community Investment Plan is not yet final or formally adopted. Projects, funding sources, schedules, and amounts may be modified as part of the Village Board's review and the annual budget process. The final approval will occur in November-2026, along with the approval of the operating budget for the year 2027.

Residents and community members can review the proposed Five-Year Community Investment Plan, including proposed projects, investment priorities, and funding information, by clicking the link below:

Proposed 2027-2031 Community Investment Plan

Operating Budget 2027

The Village's Operating Budget provides the financial resources necessary to deliver essential municipal services throughout the year. These services include public safety, public works, water and sewer services, community development, finance and administrative services, and other programs that support the community. The annual operating budget establishes planned revenues and expenditures for the upcoming fiscal year and serves as an important tool for aligning available resources with the Village's strategic priorities.

The proposed FY2027 Operating Budget will be presented to the Village Board as part of the annual budget process. Stay tuned, and the proposed operating budget document will be available by September 30, 2026.

Title II of the Americans with Disabilities Act

Under Title II of the Americans with Disabilities Act, all state and local governments are required to take steps to ensure that their communications with people with disabilities are as effective as communications with others. This requirement is referred to as “effective communication.” Written materials for distribution to the public must ensure that each document is available in an alternative format to individuals with disabilities upon request.

Any individual who would like to view a document, but because of a disability or needs some accommodation, should contact the Village Finance Department at 847-392-6000.

Past Budget Links

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