HomeMy WebLinkAboutOrd 6515 04/07/2020 Making certain amendments to the annual budget adopted for the fiscal year commencing 01/01/2019ORDINANCE NO. 6515
AN ORDINANCE MAKING CERTAIN AMENDMENTS TO THE ANNUAL
BUDGET ADOPTED FOR THE FISCAL YEAR COMMENCING JANUARY 1, 2019
AND ENDING DECEMBER 31, 2019
PASSED AND APPROVED BY
THE PRESIDENT AND BOARD OFTRUSTEES
the 7th da ol° A aril 2020
Published in pamphlet form by
authority of the corporate authorities
of the Village of Mount Prospect,
Illinois the 7th day of April. 2020.
ORDINANCE NO. 6515
AN ORDINANCE MAKING CERTAIN AMENDMENTS TO THE ANNUAL
BUDGET ADOPTED FOR THE FISCAL YEAR COMMENCING JANUARY 1, 2019
AND ENDING DECEMBER 31, 2019
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, 2019 and ending December 31,
2019 was adopted through the passage of Ordinance No. 6418 approved by the Corporate
Authorities of the Village of Mount Prospect on November 20, 2018; and
WHEREAS, the President and Board of Trustees of the Village of Mount Prospect have
passed and approved Ordinance No. 6436 on March 5, 2019, Ordinance No. 6473 on
September 17, 2019, and Ordinance No. 6505 on March 3, 2020, amending the annual
budget for the fiscal year commencing January 1, 2019 and ending December 31, 2019;
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, 2019 and ending December 31, 2019; and
WHEREAS, the President and Board of Trustees of the Village of Mount Prospect believe
the changes, as specified on the attached January 1, 2019 through December 31, 2019
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 Number 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, 2019 through December 31,
2019 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
NAYES: None
ABSENT: None
PASSED and APPROVED this 7th _ day of April , 2020.
Arlene A. Juracek 91
Mayor
ATTEST
Karen Agoranos
Village Clerk
VILLAGE OF MOUNT PROSPECT
BUDGET AMENDMENT NO. 4
FISCAL YEAR JANUARY 1, 2020 through December 31, 2020
EXPENDITURES
001 General Fund Total 56,965,965 567,400 57,533,365
040 Refuse Disposal Fund
Increase /
Amended
Fund/Account Number
Current Budget
(Decrease)
Budget
Amended Budgets
356
2,900
3,256
001 General Fund
1,559
5,100
6,659
Amendment
7,803
8,400
16,203
001.00.00.00.0.000.697.001- Transfers Transfer Out
1,540,000
567,400
2,107,400
Amendment Total
1,540,000
567,400
2,107,400
Other Budgeted Accounts
55,425,965
13,500
55,425,965
001 General Fund Total 56,965,965 567,400 57,533,365
040 Refuse Disposal Fund
Amendment
040.80.85.00.0.000.513.002 - Other Employee Benefits Vac/Pers Leave Incent.
356
2,900
3,256
040.80.85.00.0.000.530.006 - Professional Services Other Prof. Serv.
1,559
5,100
6,659
040.80.85.00.0.000.544.002 - Postage Postage Expense
7,803
8,400
16,203
040.80.85.00.0.000.568.001- Refuse Contractual Services S/F Refuse Collection
1,288,422
5,300
1,293,722
040.80.85.00.0.000.568.005 - Refuse Contractual Services Tipping Fees - SWANCC
987,137
6,100
993,237
040.80.85.00.0.000.568.008 - Refuse Contractual Services S/F Recycling
681,925
13,500
695,425
040.80.85.00.0.000.568.009 - Refuse Contractual Services M/F Recycling
120,080
5,600
125,680
040.80.85.00.0.000.568.012 - Refuse Contractual Services Tipping Fees
17,639
7,500
25,139
040.80.85.00.0.000.568.015 - Refuse Contractual Services Hazardous Waste Collect
100,000
8,900
108,900
040.80.85.00.0.365.503.001- Overtime Earnings Overtime
3,363
47,000
50,363
040.80.85.00.0.365.511.001- Social Security Contributions Social Security
7,604
3,000
10,604
040.80.85.00.0.365.512.001- Retirement Contributions IMRF Pension Expense
10,893
4,500
15,393
040.80.85.00.0.365.513.002 - Other Employee Benefits Vac/Pers Leave Incent.
......_u-- _._. ._..__..
246
4,000
_.------------re_...--
4,246
Amendment Total
3,227,027
121,800
3,348,827
Other Budgeted Accounts
1,315,158
1,315,158
040 Refuse Disposal Fund Total 4,542,185 121,800 4,663,985
050 Water and Sewer Fund
Amendment
050.80.84.87.0.380.501.001- Part -Time Earnings Part -Time Earnings
53,528
(10,000)
43,528
050.80.84.87.0.381.503.001- Overtime Earnings Overtime
31,431
(24,000)
7,431
050.80.84.87.0.382.503.001- Overtime Earnings Overtime
59,022
(14,000)
45,022
Amendment Total
143,981
(48,000)
95,981
Other Budgeted Accounts
19,709,690
19,709,690
050 Water and Sewer Fund Total 19,853,671 (48,000) 19,805,671
VILLAGE OF MOUNT PROSPECT
BUDGET AMENDMENT NO. 4
FISCAL YEAR JANUARY 1, 2020 through December 31, 2020
EXPENDITURES
Increase / Amended
Fund/Account Number Current Budget Decrease, Budget
051 Village Parking System Fund
Amendment
051.80.81.81.0.000.550.002 - Land Lease Park District Land Lease 62,000 62,000
051.80.81.81.0.000.697.001- Transfers Transfer Out 1,602,700 1,602,700
Amendment Total - 1,664,700 1,664,700
Other Budgeted Accounts 186,101 - 186,101
051 Village Parking System Fund Total 186,101 1,664,700 1,850,801
060 Vehicle Maintenance Fund
Amendment
060.80.86.89.0.000.500.001- Full -Time Earnings Full -Time Earnings
685,288
44,000
729,288
060.80.86.89.0.000.503.001- Overtime Earnings Overtime
104,361
35,100
139,461
060.80.86.89.0.000.510.001- Group Insurance Medical Insurance
�..............._.._......,...
148,626
_ 10,400
159,026
Amendment Total
938,275
89,500
1,027,775
Other Budgeted Accounts
1,095,972
-
1,095,972
060 Vehicle Maintenance Fund Total
2,034,247
89,500
2,123,747
063 Risk Management Fund
Amendment
063.00.00.00.4.000.596.010 - Property & Liability Insurance Premiums IRMA Annua
668,773
25,000
693,773
063.00.00.00.4.000.599.002 - Property & Liability Claims Liability Claims
100,000
15,000
115,000
063.00.00.00.4.000.599.003 - Property & Liability Claims Workers' Comp. Claims
_ _
250,000
215,000
465,000
Amendment Total
1,018,773
255,000
1,273,773
Other Budgeted Accounts
8,190,100
8,190,100
063 Risk Management Fund Total 9,208,873 255,000 9,463,873
070 Police Pension Fund
Amendment
070.00.00.00.3.000.528.001- Pension Benefits & Refunds Retirement Pensions
4,827,335
80,700
4,908,035
070.00.00.00.3.000.528.002 - Pension Benefits & Refunds Disability Pensions
402,638
14,700
417,338
070.00.00.00.3.000.528.005 - Pension Benefits & Refunds Refund of Contrib.
45,000
45,000
Amendment Total
5,229,973
140,400
5,370,373
Other Budgeted Accounts
755,236
755,236
070 Police Pension Fund Total 5,985,209 140,400 6,125,609
VILLAGE OF MOUNT PROSPECT
BUDGET AMENDMENT NO. 4
FISCAL YEAR JANUARY 1, 2020 through December 31, 2020
EXPENDITURES
071 Fire Pension Fund Total 6,193,836 209,600 6,403,436
Amended Budget Total 104,970,087 3,000,400 107,970,487
All Other Village Budgeted Accounts 47,511,738 47,511,738
Total All Funds 152,481,825 3,000,400 155,482,225
Increase /
Amended
Fund/Account Number
Current Budget
Decrease
Budget
071 Fire Pension Fund
Amendment
071.00.00.00.3.000.528.001- Pension Benefits & Refunds Retirement Pensions
4,828,171
18,500
4,846,671
071.00.00.00.3.000.528.002 - Pension Benefits & Refunds Disability Pensions
787,127
136,000
923,127
071.00.00.00.3.000.528.003 - Pension Benefits & Refunds Surv. Spouse Pensions
403,388
40,500
443,888
071.00.00.00.3.000.528.005 - Pension Benefits & Refunds Refund of Contrib.
-
9,600
9,600
071.00.00.00.3.000.530.003 - Professional Services Investment Advisors
93,000
3,200
96,200
071.00.00.00.3.000.530.006 - Professional Services Other Prof. Serv.
18,700
1,800
20,500
Amendment Total
6,130,386
209,600
6,339,986
Other Budgeted Accounts
63,450
63,450
071 Fire Pension Fund Total 6,193,836 209,600 6,403,436
Amended Budget Total 104,970,087 3,000,400 107,970,487
All Other Village Budgeted Accounts 47,511,738 47,511,738
Total All Funds 152,481,825 3,000,400 155,482,225
VILLAGE OF MOUNT PROSPECT
BUDGET AMENDMENT NO. 4
FISCAL YEAR JANUARY 1, 2020 through December 31, 2020
REVENUES
001 General Fund Total 56,118,900 3,415,000 59,533,900
024 Flood Control Construction Fund
Amendment
024.420.003 - Other Grants Other Grants 2,000,000 (2,000,000)
�.._---.._._-...... ........---. _----- __ __�,_..........._ ...
Amendment Total 2,000,000 (2,000,000)
Other Budgeted Accounts 417,422 417,422
024 Flood Control Construction Fund Total 2,417,422 (2,000,000) 417,422
049 Prospect and Main TIF District
Amendment
049.487.001- Transfer In Transfer In - 2,170,100 2,170,100
----._-__ .._------....... _.m._ ......--�_ _.....----
Amendment Totalm�mmm uuWWWu 2,170,100 2,170,100
Other Budgeted Accounts 10,484,000 10,484,000
049 Prospect and Main TIF District Total 10,484,000 2,170,100 12,654,100
051 Village Parking System Fund
Amendment
051.493.001- Gain/Loss on Sale of Assets Gain/Loss Sale of Assets 1.,370,300 1,370,300
Amendment Total - 1,370,300 1,370,300
Other Budgeted Accounts 192,600 192,600
051 Village Parking System Fund Total 192,600 1,370,300 1,562,900
Increase /
Amended
Fund/Account Number
Current Budget
Decrease
Budget
Amended Budgets
001 General Fund
Amendment
001.410.001- Nonbusiness Licenses & Permits Building Permit
550,000
315,000
865,000
001.415.002 - State Taxes State Income Tax
5,250,000
515,000
5,765,000
001.415.004 - State Taxes State Sales Tax
20,646,000
2,285,000
22,931,000
001.415.005 - State Taxes State Use Tax
1,448,000
300,000
1,748,000
Amendment Total
27,894,000
3,415,000
31,309,000
Other Budgeted Accounts
28,224,900
-
28,224,900
001 General Fund Total 56,118,900 3,415,000 59,533,900
024 Flood Control Construction Fund
Amendment
024.420.003 - Other Grants Other Grants 2,000,000 (2,000,000)
�.._---.._._-...... ........---. _----- __ __�,_..........._ ...
Amendment Total 2,000,000 (2,000,000)
Other Budgeted Accounts 417,422 417,422
024 Flood Control Construction Fund Total 2,417,422 (2,000,000) 417,422
049 Prospect and Main TIF District
Amendment
049.487.001- Transfer In Transfer In - 2,170,100 2,170,100
----._-__ .._------....... _.m._ ......--�_ _.....----
Amendment Totalm�mmm uuWWWu 2,170,100 2,170,100
Other Budgeted Accounts 10,484,000 10,484,000
049 Prospect and Main TIF District Total 10,484,000 2,170,100 12,654,100
051 Village Parking System Fund
Amendment
051.493.001- Gain/Loss on Sale of Assets Gain/Loss Sale of Assets 1.,370,300 1,370,300
Amendment Total - 1,370,300 1,370,300
Other Budgeted Accounts 192,600 192,600
051 Village Parking System Fund Total 192,600 1,370,300 1,562,900
VILLAGE OF MOUNT PROSPECT
BUDGET AMENDMENT NO. 4
FISCAL YEAR JANUARY 1, 2020 through December 31, 2020
REVENUES
070 Police Pension Fund Total 8,419,500 9,240,000 17,659,500
071 Fire Pension Fund
Amendment
071.466.001- Realized Gains/Losses Manager S
10,000
Increase /
Amended
Fund/Account Number
Current Budget
Decrease
Budget
070 Police Pension Fund
100,000
280,000
380,000
Amendment
2,210,000
4,740,000
6,950,000
070.467.001- Unrealized Gains/Losses Manager S
100,000
240,000
340,000
070.468.001- Income on Equities Market Gain/Loss-Equities
2,457,500
8,000,000
10,457,500
_ 070.468.002 - Income on Equities Dividend Income
490,000
1,000,000
1,490,000
Amendment Total
3,047,500__
9,240,000
12,287,500
Other Budgeted Accounts
5,372,000
-
5,372,000
070 Police Pension Fund Total 8,419,500 9,240,000 17,659,500
071 Fire Pension Fund
Amendment
071.466.001- Realized Gains/Losses Manager S
10,000
40,000
50,000
071.467.001- Unrealized Gains/Losses Manager S
100,000
270,000
370,000
071.467.005 - Unrealized Gains/Losses Manager G
100,000
280,000
380,000
071.468.001- Income on Equities Market Gain/Loss-Equities
2,210,000
4,740,000
6,950,000
071.468.002 - Income on Equities Dividend Income
442,000
2,000,000
2,442,000
071.478.002 - Contributions Fire Contributions
680,000
50,000
730,000
Amendment Total
3,542,000
7,380,000
10,922,000
Other Budgeted Accounts
4,139,800
-
4,139,800
071 Fire Pension Fund Total 7,681,800 7,380,000 15,061,800
Amended Budget Total 85,314,222 21,575,400 106,889,622
All Other Village Budgeted Accounts 59,671,091 59,671,091
Total All Funds 144,985 313 21,575,400 166,560 713