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Home My WebLink AboutOrd 6378 03/06/2018 Amendments to the annual budget for fiscal year commencing Jan 1 2017 and ending Dec 31 2017ORDINANCE NO. 6378 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 6th day of March , 2018 Published in pamphlet form by authority of the corporate authorities of the Village of Mount Prospect, Illinois the 7th day of March, 2018. ORDINANCE NO. _6378 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 passed and approved Ordinance No. 6314 on March 21, 2017, further 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 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. 3 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 No. 3, 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. 3 attached hereto. 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: Grossi, Hatzis, Hoefert, Rogers, Saccotelli, Zadel NAYES: None ABSENT: None PASSED and APPROVED this 6th day of March, 2018. Arlene A. Juracek Mayor ATTEST Karen Agoranos Village Clerk VILLAGE OF MOUNT PROSPECT Budget Amendment No. 3 Fiscal Year January 1, 2017 through December 31, 2017 Fund/Account Number 001 General Fund 001.402.002 001.402.007 001.410.006 001.415.005 001.416.001 001.418.021 001.456.001 001.479.005 001.492.001 All other General Fund accounts Total General Fund 020 Capital Improvement Fund 020.419.002 020.479.005 Revenues Account Description Current Budget Amount Increase (Decrease) Amended Budget Amount Electronic Games Tax - 26,000 26,000 Real Estate Trsfr Tax 1,075,000 115,500 1,190,500 Public Imp Ins Permit 15,000 66,000 81,000 State Use Tax 1,272,000 111,000 1,383,000 Pers Prop Repl Tax 302,000 147,500 449,500 AFG Grant - 160,000 160,000 Interest Income 40,000 108,000 148,000 Miscellaneous Income 30,000 34,500 64,500 Sale of Property - 570,000 570,000 554,718 2,734,000 1,338,500 4,072,500 590,921 50,597,595 - 50,597,595 53,331,595 1,338,500 54,670,095 DCEO Grants Miscellaneous Income All other Capital Improvement accounts Total Capital Improvement 023 Street Improvement Construc Fund 023.402.006 Municipal MFT All other Street Improvement Construc Fund accounts Total Street Improvement Construc Fund 042 CDBG 042.418.002 All other CDBG accounts Total CDBG 063 Risk Management Fund 063.473.016 063.478.012 063.478.013 Comm Dev Block Grant Insurance Reimb Employee Dental Cont Retiree Dental Cont All other Risk Management Fund accounts Total Risk Management Fund 1 - 34,000 34,000 - 34,000 34,000 - 68,000 68,000 2,065,000 - 2,065,000 2,065,000 68,000 2,133,000 675,000 32,000 707,000 675,000 32,000 707,000 3,172,000 - 3,172,000 3,847,000 32,000 3,879,000 530,921 23,797 554,718 530,921 23,797 554,718 60,000 - 60,000 590,921 23,797 614,718 1,000 47,500 48,500 - 88,000 88,000 - 20,500 20,500 1,000 156,000 157,000 7,863,833 - 7,863,833 7,864,833 156,000 8,020,833 Fund/Account Number 070 Police Pension Fund 070.468.001 070.468.002 070.478.006 070.478.011 VILLAGE OF MOUNT PROSPECT Budget Amendment No. 3 Fiscal Year January 1, 2017 through December 31, 2017 Revenues Account Description Market Gain/Loss on Inv Dividend Income Police Portability Contrib Village Contrib - Other All other Police Pension Fund accounts Total Police Pension Fund 071 Fire Pension Fund 071.468.001 071.468.002 071.478.011 Market Gain/Loss on Inv Dividend Income Village Contrib - Other All other Fire Pension Fund accounts Total Fire Pension Fund Total Estimated Revenues Fund being changed All other Village Budget accounts Current Budget Amount Increase (Decrease) Amended Budget Amount 2,536,000 3,426,000 5,962,000 362,000 2,163,000 2,525,000 - 430,500 430,500 61,000 331,000 392,000 2,959,000 6,350,500 9,309,500 5,566,125 - 5,566,125 8,525,125 6,350,500 14,875,625 2,683,000 3,960,000 6,643,000 383,000 1,845,000 2,228,000 230,560 408,500 639,060 3,296,560 6,213,500 9,510,060 4,706,020 - 4,706,020 8,002,580 6,213,500 14,216,080 84,227,054 34,072,985 14,182,297 98,409,351 - 34,072,985 Total Estimated Revenues After Changes 118,300,039 14,182,297 132,482,336 2 VILLAGE OF MOUNT PROSPECT Budget Amendment No. 3 Fiscal Year January 1, 2017 through December 31, 2017 Fund/Account Number 001 General Fund 001.00.00.00.0.000.636.004 001.00.00.00.0.000.636.005 001.20.90.00.0.707.561.004 001.70.01.00.0.000.513.003 001.70.71.00.0.000.503.001 001.70.71.00.0.000.665.004 All other General Fund accounts Total General Fund 042 CDBG 042.40.41.00.0.152.572.002 042.40.41.00.0.152.572.009 042.40.41.00.0.152.572.010 042.40.41.00.0.152.572.014 042.40.41.00.0.152.572.015 042.40.41.00.0.152.572.019 042.40.41.00.0.152.572.044 All other CDBG accounts Total CDBG 043 Asset Seizure Fund 043.60.61.66.0.000.525.004 043.60.61.66.0.000.665.031 Expenditures Account Description Current Budget Amount Increase (Decrease) Amended Budget Amount Property Acquisition - 289,473 289,473 Relocation Expense - 214,000 214,000 Cloud -Based Service 15,881 35,000 50,881 Retiree Sick Incentive - 101,000 101,000 Overtime 385,556 333,000 718,556 Breathing Apparatus 7,410 172,050 179,460 - 408,847 1,144,523 1,553,370 92,000 53,003,991 - 53,003,991 252,000 53,412,838 1,144,523 54,557,361 188,000 100,000 220,500 Pads to Hope, Inc. 14,000 1,455 15,455 Northwest CASA - 1,533 1,533 Wings 9,000 12,030 21,030 SPHCC Access to Care - 1,981 1,981 Resources for Comm. Living 5,000 1,603 6,603 Comm. Connections Ctr 3,000 3,223 6,223 Northwest Compass Inc. 13,000 1,972 14,972 44,000 23,797 67,797 546,921 - 546,921 590,921 23,797 614,718 Training Other Equipment All other Asset Seizure Fund accounts Total Asset Seizure Fund 046 Foreign Fire Tax Board Fund 046.70.71.00.0.301.665.021 Furniture & Equipment All other Foreign Fire Tax Board F accounts Total Foreign Fire Tax Board F 063 Risk Management Fund 063.00.00.00.4.000.597.001 063.00.00.00.4.000.597.005 063.00.00.00.4.000.599.002 063.00.00.00.4.000.599.003 Medical - PPO Premiums Dental Premiums Liability Claims Workers' Comp. Claims All other Risk Management Fund accounts Total Risk Management Fund 13 1,000 15,000 16,000 3,000 14,365 17,365 4,000 29,365 33,365 3,000 - 3,000 7,000 29,365 36,365 30,000 26,500 56,500 30,000 26,500 56,500 35,500 - 35,500 65,500 26,500 92,000 4,099,339 252,000 4,351,339 - 188,000 188,000 100,000 220,500 320,500 500,000 72,000 572,000 4,699,339 732,500 5,431,839 3,009,981 - 3,009,981 7,709,320 732,500 8,441,820 Fund/Account Number 070 Police Pension Fund 070.00.00.00.3.000.528.001 070.00.00.00.3.000.528.003 VILLAGE OF MOUNT PROSPECT Budget Amendment No. 3 Fiscal Year January 1, 2017 through December 31, 2017 Expenditures Account Description Retirement Pensions Surv. Spouse Pensions All other Police Pension Fund accounts Total Police Pension Fund 071 Fire Pension Fund 62,000 071.00.00.00.3.000.528.001 Retirement Pensions 071.00.00.00.3.000.528.002 Disability Pensions 071.00.00.00.3.000.528.003 Surv. Spouse Pensions 071.00.00.00.3.000.528.005 Refund of Contrib. All other Fire Pension Fund accounts Total Fire Pension Fund Total Village Budget Funds being changed All other Village Budget Accounts Total Village Budget after Changes El Current Budget Amount Increase (Decrease) Amended Budget Amount 3,812,710 62,000 3,874,710 515,190 37,500 552,690 4,327,900 99,500 4,427,400 610,410 - 610,410 4,938,310 99,500 5,037,810 4,103,724 192,000 4,295,724 767,529 9,000 776,529 305,352 26,000 331,352 - 11,500 11,500 5,176,605 238,500 5,415,105 172,805 - 172,805 5,349,410 238,500 5,587,910 72,073,299 2,294,685 74,367,984 44,005,180 - 44,005,180 116,078,479 2,294,685 118,373,164