In recent years, communities in our region, and across the nation, have felt the impact of the economic situation. Grayslake is no exception. While some revenues have begun to recover, others remain lower than 2000-2001. While many other communities reduce services due to lower revenues, the Village has maintained service levels and, in some areas, increased levels of service through careful planning and conservative financial strategies.

On the expense side, in addition to increasing service demands from a growing population and normal inflationary increases, the Village has taken steps to increase community-policing capabilities for increased public safety. This additional capability has resulted in higher police service costs.

To help offset these increased public safety expenses in the last decade, other areas of the budget have been held in check through privatizing services and increases in employee productivity. The Village’s per-person non-police operating expenses are 40% lower than the level of spending in 1992 for the same services. This lower per-person spending has resulted in per-person operating expenses that have risen less than the rate of inflation.

As a result of this overall fiscal management, the Village is currently DEBT FREE and has maintained a bond rating of AA3 (Source: Moody’s Investors Service, September 6, 2001) which places the Village in the top 15% of communities of our size across the nation.