Finance


Village Budget


Glenview is a home-rule municipality and creates a formal budget on an annual basis. The budget projects the financial operating plan for expected revenues and allocates resources to particular expenditures. Resources from many sources are allocated for services and programs. The budget is typically adopted in December for the following fiscal calendar year, following a series of public budget workshops and a Capital Improvement Program workshop for resident input.


Please note that these budgets are in PDF format and are very large. To open them, you'll need to have Adobe Reader on your computer; download a free copy at adobe.com.


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Financial Information

The Village’s financial standing is evaluated by Moody’s Investors Services when general obligation bonds are issued or refunded or when the Village seeks an affirmation. The official statement describes the financial health of the municipality issuing the bond in the form of a rating.


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Fees

Fees and charges are listed in Chapter 30 of the Municipal Code of the Village of Glenview.

Audit Reports

State law requires that every general-purpose local government publish, within six months of the close of each fiscal year, a complete set of audited financial statements. The Annual Comprehensive Financial Report of the Village of Glenview, Illinois, is published to fulfill that requirement.


The independent auditors' report is located at the front of the financial section of each annual report, followed by Management's Discussion and Analysis, which provides a narrative introduction, overview, and analysis of basic financial statements.


Annual Comprehensive Financial Reports


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Audit Management Letters


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Annual Treasurer's Report

The Treasurer’s Report for the fiscal year is published in compliance with 65 ILCS 5/3-10/1 of the Illinois Compiled Statutes.


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Monthly Financial Report

This report highlights the financial position of the village through that portion of the calendar year, with an analysis of actual revenues and expenditures compared to that year’s budget and compared to actual revenues and expenditures from the previous year.


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Vendor Information Reporting

In accordance with the Illinois Public Act 102-0265, the Village is required to make a good faith effort to collect and electronically publish certain data from all vendors and subcontractors as to: (1) whether the vendor or subcontractor is a minority-owned, women-owned, or veteran-owned business, as defined in the Business Enterprise for Minorities, Women, and Persons with Disabilities Act; and (2) whether the vendor or subcontractor holds any certifications for those categories or if they are self-certifying. If self-certifying, the Village will publish whether the vendor qualifies as a small business under federal Small Business Administration standards.​ This information is being collected for reporting purposes only.


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Notice of Independent Registered Municipal Advisor


Tax Increment Finance (TIF) Districts in Glenview

A TIF District is an economic redevelopment tool used by communities to spur investment in a particular geographical area. First, a boundary is set around a particular group of properties, then within those boundaries the property tax is "frozen," with specific levels of revenues funneled to local entities (schools, parks) for no more than 23 years. As the area begins to redevelop, property values will rise in concurrence with property taxes. Any increment over the initial "frozen" valuation is retained by the Village government (instead of being paid out to those schools, parks, and so on), and these funds are used to pay redevelopment costs.


The Village had two TIF districts that are no longer active. Read below to learn more.


The Glen TIF


The Glen TIF was established to redevelop the United States Naval Air Station into the Glen Town Center that is known and loved today. To read more, see the page on the Naval Air Station in Glenview.

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Waukegan/Golf TIF


The Waukegan Road / Golf Road Tax Increment Financing District (TIF) formally concluded on Dec. 31, 2023, marking the completion of a successful redevelopment of the former Avon site. The project brought significant improvements to this intersection, including the development of The Reserve, a 238-unit luxury apartment complex, and the Glen Gate Shopping Center (approximately 103,000 square feet of retail that includes a 75,000 square foot Mariano’s as the anchor tenant). 


It was planned to close this TIF within 10 years -- no later than the end of 2023 -- following the last debt service payment due Dec. 1, 2023. The closure of the TIF in 2023 occurred significantly earlier than the allowed 23 years for a TIF to remain open by statute.


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Financial Policies

These comprehensive financial polices set forth the framework for financial planning and decision-making to preserve, promote, and enhance the fiscal stability in the Village of Glenview. The policies include administrative functions, some of which include budgeting, capital improvements, debt, investments, and procurement. They are periodically reviewed to include changes in the profession, to reflect changes in state statutes, to incorporate industry standard best practices, and to review their impact on service quality.