## CITY OF SHOREWOOD ## CITY COUNCIL WORK SESSION ## AUGUST 24, 2026 ## 5755 COUNTRY CLUB ROAD ## CITY HALL COUNCIL CHAMBERS ## 5:30 PM ## AGENDA ## 1. CONVENE CITY COUNCIL WORK SESSION ## A. ## Roll Call ## Mayor Labadie _____ ## Councilmember Maddy _____ ## Councilmember Sanschagrin _____ ## Councilmember Gorham _____ ## Councilmember DiGruttolo _____ ## B. Review Agenda ## 2. DISCUSSION ## A. Budget Work Session #5: Compiled 2027 Budgets ## 3. ADJOURN Page 1 of 241 City Council Work Session Item 2.A. ## Title/Subject: Budget Work Session #5: Compiled 2027 Budgets ## Meeting Date: August 24, 2026 ## Prepared By: Jeanne Schmuck, Finance Director ## Attachments ## 1. Presentation - 2027 Budget Work Session #5-Compiled Budgets 2. 2027 Proposed Budget ## 3. Estimated Market Value Map 2022 ## 4. SCEC Staffing Analysis ## Background Over the past several months, six work sessions have been held during which we reviewed the various proposed City expenditures as well as projected revenues, discussed the proposed property tax levy and estimated tax rate, reviewed tax impacts on properties, and updated the 10-year Capital Improvement Plan (CIP). The first two work sessions consisted of goal-setting, discussing the schedule and process, seeking direction on initiatives and expectations for the 2027 budget, and then reviewing the citywide personnel expenses, followed by two work sessions to review the CIP. This work session we will review the first draft of the 2027 complied budgets in preparation for the preliminary levy. ## Financial Considerations The 2027 budget includes a net tax levy certification for taxes payable in 2027 in the amount of $8,932,479. This amount is an increase of $685,496 over last year’s certified net tax levy, which equates to an 8.31% increase in tax. The 2027 levy is estimated to result in an increase in the average homeowners’ taxes in 2027 of $48, or 5.1% (for no change in assessed value). The City’s tax base value is expected to increase approximately 2.8%, including existing value increases and new construction. This would equate to an increase in the estimated City Tax Rate from 23.926 to 25.149, which is an increase of 1.223 in the estimated tax rate. ## General Fund ## General Fund Revenues The General Fund is the chief operating fund of the City. It accounts for all revenues and expenditures of a governmental unit which are not accounted for in other funds. It is usually the largest and most important accounting activity for state and local governments, normally receiving a greater variety and number of taxes and revenues than any other fund. Specifically, it receives such revenue as general property taxes, licenses and permits, fines and penalties, rents, charges for current services, state grants and aids, and interest earnings. In turn, the General Fund finances a larger range of municipal services, including police, fire, street and park maintenance, recreation programs, administration, planning and zonin…