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Home My WebLink AboutOrd 6445 04/03/2019 Making Certain Amendments to the Annual Budget CommencingORDINANCE NO. 6445 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 3rd day ca;1 April, 2019 Published in pamphlet form by authority of the corporate authorities of the Village of Mount Prospect, Illinois the 3rd day of April, 2019. ORDINANCE NO. 6445 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 passed and approved Ordinance No. 6443 on March 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. 4 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. 4, 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. 4 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 • _1 PASSED and APPROVED this 3rd day of Aril , 2019.. �q Arlene A. Juracek 0 Mayor ATTEST ..w_. f_.w................... Karen Agoran s Village Clerk VILLAGE OF MOUNT PROSPECT Budget Amendment No. 4 Fiscal Year January 1, 2018 through December 31, 2018 Revenues Current Amended Budget Increase Budget Fund/Account Number Account Description Amount � Decrease Amount 002 Debt Service Fund 002.00.00.00.2.519.487.001 Transfer In 002.00.00.00.2.519.488.001 Bond Proceeds 002.00.00.00.2.519.488.002 Bond Premium All other Debt Service Fund accounts Total Debt Service Fund 025 Police & Fire Building Construction Fund 025.488.001 Bond Proceeds 025.488.002 Bond Premium All other Police & Fire Building Construction Fund accounts Total Police & Fire Building Construction Fund 048 Business District Fund 048.00.00.00.0.775.415.004 State Sales Tax All other Business District Fund accounts Total Business District Fund Total Village Budget Funds being changed All other Village Budget Accounts - 1,642,000 1,642,000 5,638,000 302,000 5,940,000 1,524,700 1,0,28,000) 496,700 7,162,700 916,000 8,078,700 5,046,168 - 5,046,168 12,208,868 916,000 13,124,868 32,802,000 (302,000) 32,500,000 - 1,028,000 1,028,000 32,802,000 726,000 33,528,000 161,000 - 161,000 32,963„000 726,000 33,689,000 420,000 100,000 520,000 420,000 100,000 520,000 1,053,000 - 1,053,000 1,473,000 100,000 1,573,000 46,644,868 1,742,000 48,386,868 114,319,487 - 114,319,487 Total Village Budget after Changes 160,964,355 1,742,000 162,706,355 VILLAGE OF MOUNT PROSPECT Budget Amendment No. 4 Fiscal Year January 1, 2018 through December 31, 2018 Expenditures Current Amended Budget Increase Budget Fund/Account Number Account Description Amount (Decrease] Amount 002 Debt Service Fund 002.00.00.00.2.519.564.001 Financing Costs All other Debt Service Fund accounts Total Debt Service Fund 025 Police & Fire Building Construction Fund 025.30.01.00.0.000.564.001 Financing Costs All other Police & Fire Building Construction Fund accounts Total Police & Fire Building Construction Fund 048 Business District Fund 048.00.00.00.0.775.415.004 RDA Interest Payment All other Business District Fund accounts Total Business District Fund 052 Parking System Revenue Fund 864,900 (726,000) 138,900 864,900 (726,000) 138,900 9,034,137 - 9,034,137 9,899,037� 72�000 9,173,037 052.80.81.82.1.000.651.004 Train Station Improvements 726,000 726,000 30,000 726,000 726,000 1,325,000 - 1,325,000 1,325,000 726,000 2,051,000 1,473,000 100,000 1,573,000 1,473,000 100,000 1,573,000 071 Firefighter Pension Fund 1,473,000 100,000 1,573,000 052.80.81.82.1.000.651.004 Train Station Improvements - 30,000 30,000 - 30,000 30,000 All other Parking System Revenue Fund accounts 173,209 - 173,209 Total Parking System Revenue Fund 173,209 30,000 203,209 071 Firefighter Pension Fund 071.00.00.00.3.000.528.001 Retirement Pensions 4,440,880 224,000 4,664,880 071.00.00.00.3.000.530.003 Investment Advisors 80,000 11,000 91,000 4,520,880 235,000 4,755,880 All other Firefighter Pension Fund accounts 1,325,330 - 1,325,330 Total Firefighter Pension Fund 5X846„210 235,000 6,081,210 Total Village Budget Funds being changed All other Village Budget Accounts Total Village Budget after Changes 4 18,716,456 365,000 19,081,456 124,625,218 124,625,218 143,341,674 365,000 143,706,674