Frankfort Village Board Adopts $61.8 Million Budget for Fiscal Year 2027

Frankfort Village Board Meeting | April 6, 2026

Article Summary: The Village of Frankfort approved its comprehensive FY 2027 budget, strategically utilizing reserves to fund major capital and infrastructure projects while maintaining a healthy operating surplus.

Fiscal Year 2027 Budget Key Points:

• The budget includes total projected revenues of $45,413,200 and total projected expenditures of $61,836,900 across all funds.

• The General Fund anticipates a $3,080,700 operating surplus, driven by $24.6 million in revenues against $21.5 million in expenditures.

• The Capital Development Fund allocates $5,000,000 for the street resurfacing program and $2,000,000 for the east side bike path.

• The Motor Fuel Tax (MFT) Fund allocates $3,896,000 primarily for the replacement of the Aberdeen Road Bridge.

The Frankfort Village Board on Monday, April 6, 2026, unanimously approved the Village’s Fiscal Year 2027 budget, a financial blueprint that relies on accumulated reserves to fund significant long-term capital investments while keeping day-to-day operations in the black.

The overall budget projects $45,413,200 in total revenues and $61,836,900 in total expenditures across all municipal funds. The planned deficit spending is intentional, drawing down capital reserves that the Village has systematically accumulated in previous years to tackle large-scale infrastructure needs without taking on new debt.

“This planned use of reserves reflects the Village’s continued investment in long-term infrastructure and capital improvements,” Trustee Daniel Rossi said while presenting the budget. “This budget demonstrates the Village’s ongoing commitment to providing high-quality municipal services, maintaining essential infrastructure, and preserving a strong and stable financial foundation.”

The Village’s primary operating account, the General Fund, remains highly solvent. The budget projects General Fund revenues at $24,603,300—a $1.9 million increase from the previous year—against $21,522,600 in operating expenditures. The resulting $3,080,700 operating surplus will be used to support ongoing capital investments.

The General Capital Development Fund features $12,523,500 in expenditures for FY 2027. The centerpiece of the capital plan is a $5,000,000 allocation for the Village’s annual street resurfacing program. Other notable general capital projects include $2,000,000 for the construction of the east side bike path (supported by $1.63 million in grant funding), $400,000 for a path connection to the Stone Creek Subdivision, a new roof for the Police Station, and the construction of a new equipment storage garage at 2 Smith Street.

Additionally, the Village plans to utilize $3,896,000 from the Motor Fuel Tax (MFT) Fund. The vast majority of those MFT funds are earmarked for the full replacement of the Aberdeen Road Bridge over Hickory Creek in the Prestwick Subdivision, a project that recently required emergency shoring.

On the utility side, the Sewer and Water Operations Fund anticipates revenues of $14,736,000 against operating expenditures of $8,576,800. The substantial utility surplus allows the Village to transfer $6,159,200 into the Sewer and Water Capital Fund to support debt service on IEPA loans and fund $13,355,000 in utility infrastructure improvements, engineering services, and equipment replacements.

The budget was approved 5-0 as part of the board’s omnibus consent agenda, with Trustee Eugene Savaria absent.