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HomeMy WebLinkAboutOrd 6314 03/21/2017 Making certain amendments to the Annual BudgetORDINANCE NO. 6314 AN ORDINANCE MAKING CERTAIN AMENDMENTS TO THE ANNUAL BUDGET ADOPTED FOR THE FISCAL YEAR COMMENCING JANUARY 1, 2017 AND ENDING DECEMBER 31, 2017 PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES The 21" day of March, 2017 Published in pamphlet form by authority of the corporate authorities of the Village of Mount Prospect, Illinois the 22nd day of March, 2017. ORDINANCE NO. 6314 AN ORDINANCE MAKING CERTAIN AMENDMENTS TO THE ANNUAL BUDGET ADOPTED FOR THE FISCAL YEAR COMMENCING JANUARY 1, 2017 AND ENDING DECEMBER 31, 2017 WHEREAS, the President and Board of Trustees of the Village of Mount Prospect have passed and approved Ordinance No. 2342 which sets the finances of the Village under the "Budget Officer System"; and WHEREAS, pursuant to the aforesaid Ordinance and the Statutes of the State of Illinois an annual budget for the fiscal year commencing January 1, 2017 and ending December 31, 2017 was adopted through the passage of Ordinance No. 6290 approved by the Corporate Authorities of the Village of Mount Prospect on December 20, 2016; and WHEREAS, the President and Board of Trustees of the Village of Mount Prospect have passed and approved Ordinance No. 6308 on March 7, 2017, amending the annual budget for the fiscal year commencing January 1, 2017 and ending December 31, 2017; and WHEREAS, the President and Board of Trustees of the Village of Mount Prospect have further reviewed certain additions and changes to the aforesaid budget for the fiscal year beginning January 1, 2017 and ending December 31, 2017; and WHEREAS, the President and Board of Trustees of the Village of Mount Prospect believe the changes, as specified on the attached January 1, 2017 through December 31, 2017 Budget Amendment No. 2 to be in the best interest of the Village of Mount Prospect; and WHEREAS, the Village has now revised the revenue projections or has reserves in each of the Funds in which the budget is being increased adequate in amount to cover the budget changes reflected in Budget Amendment Number One, attached hereto. NOW THEREFORE BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS: SECTION ONE: That the fiscal year budget for January 1, 2017 through December 31, 2017 for the Village of Mount Prospect is hereby amended, as detailed on Budget Amendment No. 2 attached hereto. w VILLAGE OF MOUNT PROSPECT Budget Amendment No. 2 Fiscal Year January 1, 2017 through December 31, 2017 Revenues Current Budget Increase Fund/Account Number Account Description Amount (Decrease) 049 Prospect and Main TIF Fund 049.400.011 Prop Tax Increment CY - 275,000 049.492.001 Sale of Property - 700,000 - 975,000 All other Prospect and Main TIF Fund accounts - - Total Prospect and Main TIF Fund - 975,000 Total Estimated Revenues Fund being changed - 975,000 All other Village Budget accounts 117,32 5,039 Total Estimated Revenues After Changes 117,32 5,039 975,000 1 Amended Budget Amount 275,000 700,000 975,000 9 5,000 975,000 117,3 5,039 118,3 0,039 VILLAGE OF MOUNT PROSPECT Budget Amendment No. 2 Fiscal Year January 1, 2017 through December 31, 2017 Expenditures Current Amended Budget Increase Budget Fund/Account Number Account Description Amount (Decrease) Amount 001 General Fund 001.50.01.00.0.000.530.006 Other Prof. Serv. 7,700 15,580 23,280 001.50.01.00.0.000.561.004 Cloud -Based Service 5,040 5,360 10,400 001.50.01.00.0.000.608.002 NACCHO Grant Supplies - 1,153 1,153 12,740 22,093 34 833 All other General Fund accounts 53,378,005 - 53,3 8,00Ti Total General Fund 53,390,745 22,093 53,412,838 049 Prospect and Main TIF Fund 049.40.90.00.0.704.636.029 Downtown Pedestrian Imp - 200,000 200,000 049.40.90.00.0.710.636.007 Facade Program - 100,000 100,000 049.40.90.00.0.710.636.028 Downtown Wayfinding Signage 100,000 100,000 049.80.81.81.0.000.574.011 St-scape Corr Maint - 75,000 75,000 049.80.81.81.0.000.575.015 Brick Sidewalk Sealing - B0,000 60,000 049.80.81.81.1.000.675.007 Brick Sidewalks - 10,000 10,000 049.80.90.00.1.705.679.001 D/T Streetscape Prog - 150,000 150,000 695,000 695,000 All other Prospect and Main TIF Fund accounts - - - Total Prospect and Main TIF Fund µ 695,000 6 5,000 Total Village Budget Funds being changed 53,390,745 717,093 54,107,838 All other Village Budget Accounts 61,970,641 - 61,9 0,641 Total Village Budget after Changes 115,361,386 717,093 116,0 78,479 2 SECTION TWO: That this ordinance shall be in full force and effect from and after its passage, approval and publication in pamphlet form as provided by law. AYES: Hoefert, Matuszak, Polit, Rogers, Saccotelli, Zadel NAYES: None ABSENT: None PASSED and APPROVED this_215t day of March, 2017. Arlene A. Jura Mayor ATTEST At'6 Q Karen Agoranos Deputy Village Clerk