A series of outside economic forces are affecting Glencoe’s government operations as local officials are coping with the outgrowth of surging inflation, supply chain problems and now late arriving property tax disbursements from Cook County.
As the nation grapples with the massive inflation surge of the past 12 months, some introspection is taking place in Glencoe.
At the July 21 village board meeting, Finance Committee Chairman Jonathan Vree noted revenues are generally coming ahead of budget, but adjustments may need to come due to inflation.
“We are looking at some projects to potentially put off if they are not absolutely necessary right now due to shortages or price increases,” Vree said.
In one example, trustees unanimously approved the purchase of water main equipment with the cost not to exceed $1.6 million.
However, higher material and fuel costs led to a 50 to 60% surge in pricing and the village is deferring a second part of the project until next year due to budget constraints.
“It’s obviously regrettable that we can’t use the budgeted amount to cover the whole project but it seems clearly right that we should do this part of the project,” Village President Howard Roin said.
The ongoing supply chain issues are coming into play at the Glencoe Golf Club, the village’s public course.
The staff has not been able to purchase used equipment such as some mowers and a 4X4 tractor which are all used for maintaining the golf course.
“Country clubs aren’t buying new equipment because the pieces are not available due to supply chain issues. Thus their used equipment is not available to purchase on the marketplace as it typically has in the past,” said Golf Club Director Stella Nanos.
She said the previously used mowers typically go for $15,000 and the tractors can usually be found for $20,000.
Finally, some of the village’s taxing bodies will not be receiving their property tax revenues on time this year due to delays from various governments inside Cook County.
Both the village and District 35 — which operate Glencoe’s three elementary schools — plan to dip into reserves as they wait for the property tax disbursement from the county.
Despite this, local officials are not sounding the alarm.
“Glencoe is very financially secure,” Roin said. “Even though this is happening, we are going to be OK.”
District 35 Director of Finance and Operations Jason Edelheit said the school district has a year’s worth of reserves on hand.
“We have the fund balance to get through,” Edelheit said. “I’d be angry if we didn’t have the fund balance to get through.”
Daniel I. Dorfman is a freelance reporter with Pioneer Press.
