HomeMy WebLinkAboutOrd 6443 03/19/2019 Making Certain Amendments to the Annual Budget for Fiscal Year 2018ORDINANCE NO. 6443
AN ORDINANCE MAKING CERTAIN AMENDMENTS TO THE ANNUAL
BUDGET ADOPTED FOR THE FISCAL YEAR COMMENCING JANUARY 1, 2018
AND ENDING DECEMBER 31, 2018
PASSED AND APPROVED BY
THE PRESIDENT AND BOARD OF TRUSTEES
the 19th day of March, 2019
Published in pamphlet form by
authority of the corporate authorities
of the Village of Mount Prospect, Illinois
the 201h day of March, 2019.
ORDINANCE NO. 6443
AN ORDINANCE MAKING CERTAIN AMENDMENTS TO THE ANNUAL
BUDGET ADOPTED FOR THE FISCAL YEAR COMMENCING JANUARY 1, 2018
AND ENDING DECEMBER 31, 2018
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, 2018 and ending December 31,
2018 was adopted through the passage of Ordinance No. 6352 approved by the Corporate
Authorities of the Village of Mount Prospect on December 5, 2017; and
WHEREAS, the President and Board of Trustees of the Village of Mount Prospect have
passed and approved Ordinance No. 6377 on March 6, 2018, amending the annual budget
for the fiscal year commencing January 1, 2018 and ending December 31, 2018; and
WHEREAS, the President and Board of Trustees of the Village of Mount Prospect have
passed and approved Ordinance No. 6433 on February 19, 2019, further amending the
annual budget for the fiscal year commencing January 1, 2018 and ending December 31,
2018; 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, 2018 and ending December 31, 2018; and
WHEREAS, the President and Board of Trustees of the Village of Mount Prospect believe
the changes, as specified on the attached January 1, 2018 through December 31, 2018
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, 2018 through December 31,
2018 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 19th day of March, 2019.
Arlene A. Jurace
Mayor
ATTEST
Karen Agor os
Village Clerk
VILLAGE OF MOUNT PROSPECT
Budget Amendment No. 3
Fiscal Year January 1, 2018 through December 31, 2018
Fund/Account Number
002 Debt Service Fund
002.456.001
002.00.00.00.2.510.400.001
002.00.00.00.2.510.417.003
002.00.00.00.2.516.488.002
002.00.00.00.2.519.488.001
All other Debt Service accounts
Total Debt Service
Revenues
Account Description
Current
Budget
Amount
Increase
(Decrease)
Amended
Budget
Amount
Interest Income
1,000
23,500
24,500
Property Taxes
172,000
10,000
182,000
BAB Subsidy
42,000
1,000
43,000
Bond Premium
-
1,274,700
1,274,700
Bond Proceeds
6,305,00066d
„ x,00)
5,638,000
6,520,000
642,200
7,162,200
2,790,789
_
2,790,789
9,310,789
642,200
9,952,989
025 Police -Fire Construction Fund
025.456.001
Interest Income
025.479.005
Miscellaneous Income
025.488.001
Bond Proceeds
025.488.002
Bond Premium
All other Police -Fire Construction Fund accounts
Total Police -Fire Construction Fund
Total Village Budget
Funds being changed
All other Village Budget Accounts
Total Village Budget after Changes
3
85,000
55,000
140,000
-
21,000
21,000
32,138,000
664,000
32,802,000
1,275,000
1,275,000)
-
33,498,000
(535,000)
32,963,000
33,498,000(535,000)
32,963,000
42,808,789 107,200 42,915,989
118,048,366 - 118,048,366
160,857,155 107,200 160,964,355
VILLAGE OF MOUNT PROSPECT
Budget Amendment No. 3
Fiscal Year January 1, 2018 through December 31, 2018
Fund/Account Number
001 General Fund
001.30.01.00.0.000.636.099
001.60.61.65.0.000.500.001
001.60.61.65.0.000.503.001
001.60.61.65.0.000.504.001
001.60.61.65.0.000.505.001
001.60.61.65.0.000.506.001
001.60.61.65.0.000.510.001
001.60.61.65.0.000.510.004
001.60.61.65.0.000.511.002
001.60.61.65.0.000.513.004
All other General Fund accounts
Total General Fund
002 Debt Service Fund
002.00.00.00.2.510.690.008
002.00.00.00.2.511.690.009
002.00.00.00.2.512.685.010
002.00.00.00.2.511.690.010
002.00.00.00.2.517.564.001
All other Debt Service accounts
Total Debt Service
Expenditures
Current Amended
Budget Increase Budget
Account Description Amount (Decrease) Amount
Other Expenditures
-
266,000
266,000
Full -Time Earnings
6,657,295
(61,871)
6,595,424
Overtime
400,014
(17,072)
382,942
Specialty Pay
209,307
(2,485)
206,822
Holiday Pay
228,670
(2,673)
225,997
Longevity Pay
45,840
(800)
45,040
Medical Insurance
1,050,526
(12,918)
1,037,608
Dental Insurance
36,803
(401)
36,402
Medicare
42,986
(1,213)
41,773
Employee Allowances
40,950
(650)
40,300
8,712,391
165,917
8,878,308
48,263,786
-
48,263,786
56,976,177
165,917
57,142,094
2009 GO Bond Interest
24,000
(12,000)
12,000
2009B GO Bond Interest
51,675
(20,062)
31,613
2009C Bond Principal
95,000
(40,900)
54,100
2009C GO Bond Interest
127,655
(61,690)
65,965
Financing Costs
142,000
722,900
864,900
440,330
588,248
1,028,578
8,870,459
-
8,870,459
9,310,789
588,248
9,899,037
025 Police -Fire Construction Fund
025.30.01.00.0.000.564.001 Financing Costs
All other Police -Fire Construction Fund accounts
Total Police -Fire Construction Fund
063 Risk Management Fund
063.00.00.00.4.000.596.010 IRMA Annual Contribution
063.00.00.00.4.000.599.002 Liability Claims
All other Risk Management Fund accounts
Total Risk Management Fund
Total Village Budget
Funds being changed
All other Village Budget Accounts
Total Village Budget after Changes
4
723,070 723,070 -
723,070 (723,070) -
8,587„7198,587,719
9,310,789 (723,070) 8,587,719
-
328,675
328,675
100,000
106,000
206,000
100,000
434,675
534,675
8,513,338
-
8,513,338
8,613,338
434„675
9,048,013
84,211,093 465,770 84,676,863
58,664,811 - 58,664,811
142,875,904 465,770 143,341,674