Schaumburg’s balanced budget expected to remain intact amid nation’s economic tumult

Despite the stock market disruption caused by new international tariffs, the balanced budget Schaumburg’s village staff has spent months preparing is expected to remain intact upon its presentation to trustees next week.

With a property tax levy that’s been stable for six years, the proposed budget anticipates revenues of $369.8 million and costs of $369.5 million.

A surplus of $334,386 is expected for the fiscal year that begins May 1.

“Looking ahead, the proposed FY 25/26 budget accounts for the ongoing effects of inflation while recognizing its continued stabilization,” Schaumburg Village Manager Brian Townsend wrote in his introduction to the budget. “While still above historical averages, inflation has moderated significantly enabling more predictable financial planning and improved expenditure control.”

Though written before President Donald Trump imposed broad international tariffs, which were largely met with retaliation from other countries, Schaumburg Mayor Tom Dailly believes the proposed budget stands will be approved.

“I’m positive about this situation going on,” Dailly said. “I look at the stock market as if it will settle down. We should stay the course and things will pan out over time.”

Townsend concedes the future economic environment is challenging to predict, but has staff diligently monitoring external pressures that could affect the village’s economic fortunes.

Dailly expects this month’s events will seem a mere blip by the summer.

Capital improvement projects remain on target, not least of which is the replacement of Schaumburg’s 52-year-old village hall. The budget includes $95 million for capital projects, with the village’s own portion costing $77 million.

The budget also reflects goals based on resident feedback in the 2024 National Community Survey. These priorities include improvements to mobility, housing affordability, public safety, the reliability of utilities and economic development.

The proposed budget can be found on the village’s website at schaumburg.com/budget.