The URL can be used to link to this page

Home My WebLink About7.4 2nd reading of AN ORDINANCE ADOPTING AN ANNUAL BUDGET FOR THE VILLAGE OF MOUNT PROSPECT, ILLINOIS FOR THE FISCAL YEAR COMMENCING FROM JANUARY 1, 2021 AND ENDING DECEMBER 31, 2021 IN LIEU OF PASSAGE OF AN APPROPRIATION ORDINANCE.ANNUALItem Cover Page wubject 2nd reading of AN ORDINANCE ADOPTING AN BUDGET ■ THE VILLAGE . PROSPECT, ILLINOIS FOR THE FISCAL YEAR COMMENCING FROM JANUARY 1, 2021 AND ENDING DECEMBER PASSAGE OF AN APPROPRIATION ORDINANCE. Meeting November 2020 A' MEETING OF THE MOUNT PROSPECT BOA. Category • / BUSINESS Type Ordinance Information The attached • r the annual budget• the fiscal year 2021. Joint• •r with the VillageBoard and the Finance• • • on October1 1 to review the overall proposed 1 budget, departmental op r - •r • budgets, • the non -departmental budgets. .• • of budget ordinance was held at the November 2020 •- Board meeting. No changes were made to the budget as presented at the November 4,, 2020 meeting. The Proposed Budget for1 • on,, a decrease of • or •' % from the amended 2020 Budget.The decrease is due to the significant completion of •r capital projects 1 1 including the Police and Fire Headquarters, the Maple Street Parking Deck, and Levee 37 Phase I project at Burning Bush Trails. The operating budget will see an increase of $68,472 or 0.1% from the 2020 Budget.021 operating budget o includes $143,697 for any unanticipated expenses (contingency) and will be spent subject to the Village Board approval. The 5 -year Community Investment Plan for fiscal year 2021 totalsmillion,• •.2 million less compared to the 2020 1 amended budget. The total debt service payments for 2021 will be $8.9 million. During 2021,/ total of $5.1 milliobe repaid in outstanding ! !'/ debt, totalwhile the - payment be $3.8 million. The 2021 plan also includes replacementthe issuance of $10.0 million in new debt/bonds for the Water and Sewer Fund per the approved 2017 Water and Sewer Rate study. The 2021 bond issuance will be the last of its current series and will help reduce the critical watermain infrastructure 600 ! 130 years. Completionof major COVID-19 are resulting in lower expenditures for the Special Revenue Funds. Property Taxes are one of the most reliable revenue sources for any local government and the Village of Mount Prospect is no exception to this fact. The total 2021 property- budget• the Village 1 • million. property tax levy amount is $19,,469,004 (same as 2019 levy) and the remainder of e property •p- , - are • * Increment - /1, revenues. increase to the combined water and sewer rate of 8.0% approved last year is also included in this Proposed Budget to fund an expanded water/sewer main replacement program. The Village has not increased its refuse service rates in the last three years. The refuse service at the current rate is not sustainable due to the inflation _ cost of The proposed !!_ recommending 8.0% increase in the refuse services. The Village will see an increase in intergovernmental revenue primarily due to • ! Illinois The Village I; received 1, $million grants • Rebuild • -- program fromthe State of • ! the year2020. Village is expectingto receive equal amounts1 ! 2022.! • majorVillage has applied for a $5.0 million grant for the Aspen Trails Park Stormwater Improvements from the State of Illinois. The Village has already been awarded another grant from the Metropolitan Water Reclamation District for the same project. The final award amount from the Metropolitan Water Reclamation District is not yet available, but staff is anticipating the grant amount to be approximately $1.4 million. The total project cost for this high -impact project is $9.4 million and the Village will be allocating $2.3 million from its General Fund reserves to fund the project. The Proposed 2021 Budget for the General Fund totals $60.8 million. This is a balanced budget based on staff assumptions for current period revenues and available cash reserves. Cash reserves are being used for the purpose of funding a ••! Control Project.Absent actions, Proposed Budget of 2 General ! returns a surplus of :75. Items of •te regarding the 2021 Budget for the G- - !include: The General Fund budget represents a decrease of $1.3 million, or 2.1 percent,compared • the amended 2020 • !! The proposed 2021 budget includes a contingency budget of $143,697 undei the Village Manager's Office. Should the need arise, the budget amount wil be available for spending subject to Village Board approval. Cash reserves totaling ' million will be used to supporttransfers several capital project funds. The funds will be used for a storm wate� improvement project at the Aspen Trails Park and for various other smal capital projects. Of amount, $2.25betransferred the • Controlr - and the remainder of $750,,000 will be transferred to Capital Improvement Fund to sup• .•projects. balance policy permits this use of cash reserves when the fund balanc exceeds 30.0%. 1 Finance Commission - on October2020 and further discussed the budget and related items. After the discussion! the Finance Commission unanimously recommended adopting the budget as presented with a recommendation that any future user charge increases should program costs. A recommendation letter from the Finance Commission is attached herewith - The proposed budget can be accessed here - Proposed 2021 Budget - Click Here accompanyingAlternatives 1. Approve the inance adopting the 2021 annual budget. 2. Action i ion of the Village Board. Staff Recommendation Approve the accompanying ordinance adopting the 2021 annual budget. ATTACH M E NTS: Budget Ordinance - Draft - Oct 28 2020.pdf Budget Recommendation from the Finance Commission 2020-10-28.pdf V? ORDINANCE NO, AN ORDINANCE ADOPTING AN ANNUAL BUDGET FOR THE VILLAGE OF MOUNT PROSPECT FOR THE FISCAL YEAR COMMENCING JANUARY 1, 2021 AND ENDING DECEMBER 31, 2021 IN LIEU OF PASSAGE OF AN APPROPRIATION ORDINANCE Published in pamphlet form by authority of the corporate authorities of the Village of Mount Prospect, Illinois this day of November, 2019. Ell ORDINANCE NO, AN ORDINANCE ADOPTING AN ANNUAL BUDGET FOR THE VILLAGE OF MOUNT PROSPECT FOR THE FISCAL YEAR COMMENCING JANUARY 1, 2021 AND ENDING DECEMBER 31, 2021 IN LIEU OF PASSAGE OF AN APPROPRIATION ORDINANCE WHEREAS, the President and Board of Trustees of the Village of Mount Prospect in accordance with State Statutes, have provided for the preparation and adoption of an Annual Budget in lieu of passage of an Appropriation Ordinance; and-- WHEREAS, nd..- WHEREAS, the proposed Annual Budget for the Village of Mount Prospect for the fiscal year beginning January 1, 2021 and ending December 31, 2021, as prepared by the Budget Officer for the Village and submitted to the President'and, Board of Trustees, was placed on file in the Office of the Village Clerk on September 30, 20201 -for -public inspection,; , as provided by Statute; and WHEREAS, pursuant to notice duly published. on October 20, 2020, a public hearing was held by the President and Board of Trustees on said tentative annual budget on November 4, 2020, as provided by Statute, and WHEREAS, following said public hearing, said proposed Annual Budget was reviewed by the President and Board 'ofTrustees' and a copy of said proposed Annual Budget is attached hereto and hereby made a part hereof. NOW, THEREFORE, BE IT -ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE ---OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS: SECTION ONE: The Annual Budget for the Village of Mount Prospect for the fiscal year beginning January 1, 2021 and ending December 31, 2021, a copy of which is attached hereto and made a part hereof, is hereby approved and adopted as the Annual Budget for the Village of Mount Prospect for said fiscal year. SECTION TWO: Withinthirty (30) days following the adoption of this Ordinance there shall be filed with the County Clerk of Cook County a copy thereof duly certified by the Village Clerk and Estimate of Revenues by source anticipated to be received by the Village in the fiscal year beginning January 1, 2021 and ending December 31, 2021, duly certified by the Chief Fiscal Office SECTION THREE: This Ordinance shall be in full force and effect from and after its passage, approval and publication in pamphlet form in the manner provided by law. AYES: NAYS: ABSENT: ABSTAIN: PASSED AND APPROVED this day of November, 2020. Arlene A. Juracek, Mayor X "1"'0 "' m .11 A. ., I . 1I,,E . . ' ipuh r ill r Village Operating Budget 711871,048 72,895,273 77,242,622 74,032,289 177,308.,594 78,722,055 0.1% Non -Operating Expenditures 2018 2019 2020 2020 2021,,, 2022 Change Community Investment Program Actual Actual Budget Estimate Budget Forecast 20 to 21 IRe eiinues 10,680,605 7,770,630 8,521,927 8,521,052 81903,33,8 9,396,361 4.5% Property Taxes 19,223,535 19,054,332 191,955,359 19,268,945 20,565.,258 22,139,949 3.1% Other Taxes 14,084,956 13,908,983 13,591,375 12,082,460 1,,,3,3 , 15,007,895 -2.1% Licenses, Permits & Fees 3,298,693 3,461,600 3,112,300 2,937,000 3, 67,? 0 3,113,005 -1.5% Intergovernmental Revenue 33,481,944 35,225,923 361,723,800 36,748,480 3,? 56,3 3 420947,383 19.1% Charges For Services 30,820,500 32,666,189 34,304,445 32,488,848 35,?925.,468 37,507,630 4.7% Fines & Forfeits 591,472 502,032 558,550 308,800 458,0500 474,455 -17.9% Investment Income 1,019,573 1,879,804 671,700 521,450 450,?501,,, 471,647 -32.9% Reimbursements 373,622 686,835 391,937 291,500 445.,000 407,000 13.5% Other Revenue 2,882,439 2,296,291 21,178,000 2,197,200 2.,269,9920 2,255,500 4.2% Other Financing Sources 50,313,549 13,723,095 31,868,000 3,693,500 I,6.,940,pOOO 750,000 338.0% Revenues Total 156,090,283 123,405,084 1151,355,466 110,538,183 137p] 77.,990 1250074,464 18.9% ipuh r ill r Village Operating Budget 711871,048 72,895,273 77,242,622 74,032,289 177,308.,594 78,722,055 0.1% Non -Operating Expenditures Community Investment Program 10,132,179 31,802,457 47,779,285 42,1071634 2 ', 2 , 3 31,734,581 -40.1% Debt Services Budget 10,680,605 7,770,630 8,521,927 8,521,052 81903,33,8 9,396,361 4.5% Internal Service Funds (a) 10,392,248 11,539,058 11,931,836 11,397,340 1,,9p6.15 121102,903 -0.1% Business District Fund 1,571,930 111458,547 1,554,095 844,000 1,13 ° , 11422,725 -10.6% Prospect/Main TIF Dist Other Non - Op Exp 10,717,521 11,663,734 2,991,636 2,541,523 237, 483,000 -92.1% Non -Operating Expenditures Total 43,494,483 54,234,426 72,778,779 65,411,549 5,1 7" ,7 6 55,139,570 -29.8% Other Financing Uses Interfund Transfers 2,354,391 3,709,981 3,868,000 3,393,000 4j,40,000 750,000 7.0% Other Financing Uses Total 2,354,391 3,709,981 3,868,000 3,393,000 4j40,000 750,000 7.0% Expenditures Total 117,7191922 130,839,680 1531,889,401 142,836,838 1,3 ,523,3 134,6111625 -13.9% Excess (Deficiency) of Revenues ,,,, iiia a iiia°ces Over Expeindituires 3 3 0 361 (714341,596) (3 533 °5) (32j,298,655)4..654,6003 7 � ],,, 1 1,,,2.1,,, WIND ID B E N E aN E'l ASSE°"1FS Start of Budget Year 481525,288 86,895,649 79,461,053 79,461,053 471162,398 51,816,998 End of Budget Year 86,895,649 79,461,053 40,927,118 471162,398 51,816,998 421279,837 (a) Internal Services Budget includes Vehicle Maintenance Fund and Risk Management Fund. The Vehicle Replacement and Computer Replacement Funds are included in the Village Capital Budget. 7 1.1 E.a"V E'N U E S A N D 0 1"! 153"Ou'11,C]"S 1'3Y"1[1EV1FWUE . ..... 2018 2019 2020 2020 2021 2022 % Change Actual Budget Budget Estimate Budget Forecast 20 to 21 1)irqjjpeirty 1"'a ,,,, s 19.,223..535 19,?054.,332 19..955,?359 19.,268,945 20,?565,?258 22p139,F949 3.11,,,/ Other 1'"a es 14..084..956 13.,908..983 13,.591..375 12.,082.,460 1,3,3 , 150007,,895 -2.1% 1 icenses., Permits & Fees 3.,298,.693 3.,461..600 3..112,r300 2.,937.,000 3,?067,?000 3..113,F005 -1-5% lnteir,goveimmerpital flevenue 33.,481.,944 35.,225.,923 36.,723,t800 36.,748,480 43,?756.343 420947,383 1 9.1 % Charges For Services 30.,820.,500 32.,666.,189 34,304,445 32.,488,848 35,?925,?468 37,507,630 4.7% Fines &. Forfeits 591.,472 502.,032 558..550 308,800 458,0500 474..455 -1 7.9% Investment Income 1,019,573 1.,879.,804 671..700 521,.450 450,?501 471.,647 -32.9% Reimbursements 373.,622 686..835 391.,937 291,500 445,?000 407..000 1.3.5% Other Revenue 2,,882..439 2.,296.,291 2..178.,000 2,.197p200 2,?269,?920 2ffl255..500 4.2% Other Financing Sources, Transfer In 2,354,391 3.,709.,981 3.,868.,000 3.393,000 4,?140,?000 750.,000 7.0% Bond Proceeds/Premiums 47,283,506 8.,119.,075 - 1, 0?000?000 - +++ Gain on Asset Sales/Retirements 675,652 1.,894.,039 300p500 2,800,000 +++ Other Financing Sources Total 50.,313..549 13,723..095 3..868.,000 3,693,500 1...6, , 750..000 338.0% REVENUES AND OTHER SOURCES TOTAL BY TYPE iiiiiiiiiiiiiiiiiiiiiillillillillillillilliillillillillilliillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillI 156,090.283 123,.405.,084 115,.355,?466 110,538,183 13711 77'P990 125,074'F464 18.9% C1,,,,,1 ISG IES III IFUND BALANCE/ �N E-111 ASSE-rs Total Revenues and Other Sources 156..090.,283 123.,405,084 115,355,466 110,538,183 137,177,990 125,074,464 Total Expenditures 117..719.,922 130.,839.,680 153?889?401 142.,836..838 132..523..390 134,611,625 Additions to(Use of) Fund Balance iiiiiiiiiiiiiiiiiiiiiillillillillillillilliillillillillillillillillillillillilillillillillillillilliillillillillillillilliillillilillillillillillillillillilillillillillillillilliillillillillillillilliillillilillillillillillillillillilillillillillillillilliillillillillillillilliillillilillillillillillillillillilillillillillillillilliillillillillillillilliillillilillillillillillillillillilillillillillillillilliillillillillillillilliillillilillillillillillillillillilillillillillillillilliillillillillillillilliillillilillillillillillillillillilillillillillillillilliillillillillillillilliillillilillillillillillillillillilillillillillillillilliillillillillillillilliillillilillillillillillillillillilillillillillillillilliillillillillillillilliillillilillillillillillillillillilillillillillillillilliillillillillillillilliillillilillillillillillillillillilillillillillillillilliillillillillillillilliillillilillillillillillillillillilillillillillillillilliillillillillillillilliillillilillillillillillillillillilillillillillillillilliillillillillillillilliillillilillillillillillillillillilillillillillillillilliillillillillillillilliillillilillillillillillillillillilillillillillillillilliillillillillillillilliillillilillillillillillillillillilillillillillillillilliillillillillillillilliililI 38,370,361 (7,434,596) (38,533,935) (32,298,655) 4,6541600 (9,537,161) X Revenues, Expenditures, and Fund Balance/Net Assets Fee'li Nori,Clperating E pendituires Community Investment Program 2018 Actual 2019 Actual 2020 Budget 2020 Estimate 2021 Budget 2022 % Change Forecast 20 to 21 iilllla °e Q11peirating Budget Debt Services Budget 10,680,605 7,770,630 81521,927 81521,052 8,?903,?33 8 91396,361 Public Representation 731,776 486,728 711,623 354,016 57 ., 53 575,425 -19.8% Village Administration 31719,903 3,662,548 41124,378 41039,753 4131,,,8,263 41379,889 4.7% Finance 3,072,857 3,132,509 2,033,953 1,996,227 2, ,1,,7,? 51... 21025,098 -0.8% Community Development 2,904,191 2,875,033 31627,414 3,449,042 3,255,575 31321,496 -10.3% Human Services 1,165,270 1,089,951 11198,882 1,185,701 1,,222, 0 11246,331 2.0% Police 18,695,536 19,039,231 19,968,599 19,435,428 2. ,367,?5"""' 3 20,782,398 2.0% Fire 15,601,285 16,262,561 17,252,566 16,565,218 1..."7,?3, ,, 5 17,775,223 0.3% Public Works 25,980,230 26,346,712 28,325,207 27,0061904 21 ,255, 6 28,616,195 -0.2% Village Operating Budget Total 71,871,048 72,895,273 77,242,622 74,032,289 77j,308.,594 ,,,5.,, 78,7220055 0.1% Nori,Clperating E pendituires Community Investment Program 10,132,179 31,802,457 47,779,285 42,107,634 28,?624,?863 31,734,581 -40.1% Debt Services Budget 10,680,605 7,770,630 81521,927 81521,052 8,?903,?33 8 91396,361 4.5% Internal Service Funds (a) 10,392,248 11,539,058 11,931,836 11,397,340 3,1,, 3...9.,63 5 12,102,903 -0.1% Business District Fund 11571,930 11458,547 11554,095 844,000 1,,3 , 11422,725 -10.6% Prospect/Main TIF Dist Other Non -O 10,717,521 11663,734 21991,636 21541,523 237,p 483,000 -92.1% Non -Operating Expenditures Total 431F494,483 54,234,426 72,778,779 65,411,549 51,074,p796 550139,570 -29.8% Other Financing Uses Interfund Transfers 21354,391 31709,981 31868,000 31393,000 4,J...40,?000 750,000 7.0% Other Financing Uses Total 2,354,391 3,709,981 31868,000 3,393,000 ,1...40,?000 750,000 7.0% EXPENDITURES TOTAL 180,000,000 16010001,000 140,000,000 120,000,000 100,000,000 80,000,000 60,000,000 40,000,000 20,000,000 117,719,922 130,839,680 153,889,401 142,836,838 .1 32;523,390 134,611,625 -13.9% toff Interfund Transfers �iitiii Prospect/Main TIF Dist Other Non -Op Exp * Business District Fund Internal Service Funds (a) I111 Debt Services Budget it Community Investment Program 2018 Actual 2019 Actual 2020 2021 2022 Village Operating Budget Budget Budget Forecast (a) Internal Services Budget includes Vehicle Maintenance Fund and Risk Management Fund. The Vehicle Replacement and Computer Replacement Funds are included in the Village Capital Budget. 9 'NU �IIIIII �� ,,,,� m. ,,,, .. . �W�.�.. �W,�� ... '� A�, u! d� .� �N �,,,,, �W„ � �N .4 m�� N . ,. �NNI � m�� !".W] 'UND EN I ERI)RISE FUNDS Water and Sewer Fund Parking System Revenue Fund Village Parking System Fund ENTERPRISE FUNDS TOTAL 141493,771 2018 2019 2020 2020 2.021... 2022 % Change 161,280 Actual Actual Budget Estimate Budget Forecast 20 to 21 I,;;;; IN I,;;;; R I..... If°° J N D 5 , °° 6,? 2 6 60,178,571 58,666,426 55,716,878 5 ,; , „ 5., ,"""' """' """' 59,848,579 0.3 DEB ""F SERVICE FUND 131137,p709 5..949..669 5 109 150 5..018..575 5,851, m"" 1... 6 495 392 1..4.5 IR., 11°'Al..... P,1110JEcrs FUNDS Risk Management Fund 8,844,135 9,054,097 9,462,478 9,490,279 9j,54216.1 2,6.1 9,701,756 Capital Improvement Fund 2,192,544 2,152,018 21305,900 21137,320 2,59 ', 0 21136,525 12.3% Street Improvement Construc Fund 31976,676 3,6361767 41214,000 31330,320 ,3 6 """' 81756,100 3.6% Flood Control Construction Fund 391,415 416,641 41818,300 51328,000 9,? 1 2.,000 31227,280 101.6% Police & Fire Building Const. 33,688,743 692,103 36,500 77,000 m, - -100.0% CAPITAL PROJECTS FUNDS TOTAL 40,249,378 6,897,529 11,374,700 10,872,640 1,,,616 6 .,, , 140119,905 46.5% SPECII I..... REVENUE IFUNI',°1S Refuse Disposal Fund 41407,105 41500,464 41374,950 41381,500 4,?1790,?348 41889,400 9.5% Motor Fuel Tax Fund 11429,563 1,816,893 11934,350 21953,284 3,1... 00,?785 31107,440 60.3% CDBG 387,846 303,871 622,800 582,300 468,?500 492,000 -24.8% Asset Seizure Fund 11,284 17,403 14,500 41000 6,?000 6,160 -58.6% Federal Equitable Share Funds 114 30,238 2,100 31050 ,1...00 4,221 95.2% DUI Fine Fund 21,978 20,358 24,300 7,700 1 0,?200 10,502 -58.0% Foreign Fire Tax Board Fund 82,027 81,245 78,200 77,500 77.,500 80,150 -0.9% Business District Fund 1,571,930 11458,547 11554,095 844,000 1,,,,?390,?000 11422,725 -10.6% Prospect and Main TIF District 81036,335 11,421,170 753,500 11274,000 ,?J 53,?000 11320,372 451.2% SPECIAL REVENUE FUNDS TOTAL 151#948,182 19,650,189 91358,795 10,127,334 1... , , 4 33 11,332,970 49.6% EN I ERI)RISE FUNDS Water and Sewer Fund Parking System Revenue Fund Village Parking System Fund ENTERPRISE FUNDS TOTAL 141493,771 15,333,159 16,396,940 16,057,745 27,261 1745 18,575,224 66.3% 158,153 161,280 160,350 86,710 .10,2. .1 167,800 -0.1% 189,759 1,543,635 197,600 87,900 1 74,725 25 177,815 -11.6% 14,841,683 17,038,074 161754,890 16,232,355 27,5 "',671 18,920,839 64.7% I N rERNAL SERVICE FUNDS Vehicle Maintenance Fund 2,048,933 2,051,852 2,526,488 2,522,738 2j,35913 59 2,345,753 -6.6% Vehicle Replacement Fund 1,841,672 2,412,122 1,942,560 514,890 2,1...1... 91860 21129,860 9.1% Computer Replacement Fund 211,865 172,981 159,979 42,494 1 79,400 0 179,410 12.1% Risk Management Fund 8,844,135 9,054,097 9,462,478 9,490,279 9j,54216.1 2,6.1 9,701,756 0.8% INTERNAL SERVICE FUNDS TOTAL 12,946,605 13,691,052 14,091,505 12,570,401 .1 41201,038 140356,779 0.8% REVENUES TOTAL BY FUND 156,090,283 123,405,084 115,355,466 110,538,183 3 371 771990 125,074,464 18.9% irt EN°"If'°ERIRISE FUND Water and Sewer Fund Village Parking System Fund Parking System Revenue Fund ENTERPRISE FUNDS TOTAL 15,414,518 2018 2019 2020 2020 2021,,, 2022 % Change 11756,412 Actual Actual Budget Estimate Budget Forecast 20 to 21 I,;;;; IN I,;;;; R I..... II°:° J N D 55,308,129 56,558,003 62,088,179 59,245,275 ,? 9., ,4 2 60,597,251 -2.1 DEB ""F SERVICE FUND 9,1711399 6,644,816 61565,732 6,565,632 6, ,? 9 6,448,792 2. P., 1 f°Al..... PROJEcFS FUNDS S Risk Management Fund 8,151,467 9,433,365 9,605,300 9,192,260 916.1 413,009,757,150 Capital Improvement Fund 11477,194 1,240,320 31370,157 21244,931 2, 6, ,,,,,,,3"""' 31378,560 -16.7% Street Improvement Construc Fund 21616,298 3,0101478 31890,000 31791,200 4,?367,?000 91312,000 12.3% Flood Control Construction Fund 468,596 1,870,342 61889,800 51547,560 9,?757.,070 21769,037 41.6% Police & Fire Building Const. 11968,563 18,270,313 14,194,330 13,618,970 6 , - -95.8% CAPITAL PROJECTS FUNDS TOTAL 6,530,651 24,391,453 28,344,286 25,202,661 1,,,71530,3 m"" 150459,597 -38.2% SPECII I..... REVENUE FUNDS Refuse Disposal Fund 41528,996 41654,080 41797,743 41743,284 4,?1790,?348 41889,106 -0.2% Motor Fuel Tax Fund 11742,901 1,782,416 21101,376 21119,686 3,, ;,376 31155,645 47.5% CDBG 387,848 303,873 622,800 582,300 468,?500 492,000 -24.8% Asset Seizure Fund 42,936 23,557 25,000 20500 7,? 7,000 -72.0% Federal Equitable Share Funds - - 11000 500 J,, 1,000 0.0% DUI Fine Fund 25,531 14,295 2,000 2,000 48,9000 3,000 2300.0% Foreign Fire Tax Board Fund 36,220 40,923 68,000 92,771 66.,950 66,950 -1.5% Business District Fund 11571,930 11458,547 11554,095 844,000 1,,3 , 11422,725 -10.6% Prospect and Main TIF District 11,282,431 31588,056 11,372,251 91801,846 J,, 6,33 11727,738 -83.2% SPECIAL REVENUE FUNDS TOTAL 191#618,793 11 865 747 , , 20 544 265 , , 18 206 887 , , 1 1 SJ , , 11 765 164 , , -42.7% EN°"If'°ERIRISE FUND Water and Sewer Fund Village Parking System Fund Parking System Revenue Fund ENTERPRISE FUNDS TOTAL 15,414,518 16,918,072 21,950,967 19,741,297 21,7631705 24,508,687 -0.9% 133,295 11756,412 277,458 256,193 J 34,737 3m"" 135,604 -51.4% 178,443 125,303 162,310 157,553 .1,m"" ,,9.1 ,3 173,227 5.9% 15,726,256 18,799,787 22,390,735 20,155,043 221070,355 24,817,518 -1.4% IN rERNAL SERVICE FUNDS Vehicle Maintenance Fund 21240,781 2,105,693 2,326,536 21205,080 2j,305,33 5 2,345,753 -0.9% Vehicle Replacement Fund 8121112 828,009 1,554,389 1,844,000 .1 1492,000 3,242,000 -4.0% Computer Replacement Fund 160,334 212,807 469,978 220,000 238,400 178,400 -49.3% Risk Management Fund 8,151,467 9,433,365 9,605,300 9,192,260 916.1 413,009,757,150 0.1% INTERNAL SERVICE FUNDS TOTAL 11,364,694 12,579,874 13,956,203 13,461,340 ,31650,03 5 15,523,303 -2.2% EXPENDITURES TOTAL BY FUND 117,719,922 130,839,680 153,889,401 142,836,838 1,,,32,"'23,3 134,611,625 -13.9% 11 �M.. �M.1 G �M � urf. � .11 FUND:: mo G EE �M� .. �M..., 1-1. ND � Imo G EE.. . . FUND Revenues, Expenditures, and Projected Fund n 2019 2020 2020 2021. 2022 2023 2024 2025 Actual Budget Estimate Ifud et Forecast Forecast Forecast Forecast 1„ -.- Ge line iiia III III°°: u iiia d Revenues 3,620,568 (3,421,753) (3,528,397) (31,,,,93 1625) (748)672) 200,741 111,411 (72,074) Property Taxes 16,214,210 16,669,109 15,838,270 1.6pMpO87 16,880,941 17,260,762 17,649,131 18,046,237 Other Taxes 8,021,486 7,630,780 7,122,820 7,624-,000 7,813,214 7,980,000 8,151,458 8,327,723 Licenses, Permits & Fees 1,924,704 1,475,800 1,432,000 1,,,1562,000 1,585,430 1,617,138 1,649,482 1,682,472 Intergovernmental Revenue 311168,828 30,350,250 29,033,996 30,.458p790 30,827,943 38,341,682 32,693,388 33,673,646 Charges For Services 1,578,557 1,382,500 1,496,892 1,,,,62 ,000 1,669,725 1,703,121 1,737,185 1,771,930 Fines & Forfeits 296,623 362,550 175,300 299,500 308,485 317,742 327,275 337,094 Investment Income 430,401 266,000 155,800 1,,,83,,,,600 183,416 187,084 190,826 194,643 Reimbursements 261,403 287,137 242,000 34-13,010101 353,625 360,700 367,915 375,274 Other Revenue 282,359 242,300 219,800 232, 00 225,800 230,316 234,921 239,620 Revenues Total 60,178,571 58,666,426 55,716,878 x;81 „ 5.,, ,""" """ �" 59,848,579 67,998,545 63,001,581 64,648,639 Expenditures Personal Services, Salaries & Wages 27,837,496 28,995,539 28,369,088 29,.666p638 30,361,872 31,272,738 32,210,928 33,177,262 Employee Benefits 14,660,211 15,317,489 15,470,782 1.5,6"' 9,411,,.6 15,992,057 16,484,942 16,993,358 17,517,801 Other Employee Costs 462,925 595,667 387,306 563p844 574,195 574,195 574,195 574,195 Pension Benefits 5,993 6,174 6,174 6p4.78 6,608 6,608 6,608 6,608 Contractual Services 7,666,596 9,280,736 7,740,840 8..800p831. 9,000,291 9,225,322 9,455,971 9,692,376 Utilities 296,269 341,201 297,613 23,,,6,480 230,224 232,527 234,854 237,202 Insurance 549,094 628,535 628,535 24-14-02 637,189 649,933 662,932 676,191 Commodities & Supplies 675,169 1,011,721 851,554 874.p397 903,964 919,801 935,910 952,294 Other Expenditures 1,298,830 110,537 105,537 234-1234. 235,322 91,625 113,625 113,625 Building Improvements 9,816 8,300 7,000 12,.000 12,000 5,000 5,000 5,000 Office Equipment 25,414 67,855 52,322 46,' 0 46,189 46,189 46,189 46,189 Other Equipment 260,523 285,111 268,031 3,,,92,38 248,719 248,719 248,719 248,719 Infrastructure 702,305 1,571,314 1,667,493 882,22 1,598,621 7,290,205 651,881 723,251 Interfund Transfers 2,107,362 3,868,000 3,393,000 %,, ,?000 750,000 750,000 750,000 750,000 Expenditures Total 56,558,003 62,088,179 591245,275 601" ,402 60,5971251 67,797,804 62,8901170 64,720,713 Excess (Deficiency) of Revenues & Other Sources Over Expenditures 3,620,568 (3,421,753) (3,528,397) (31,,,,93 1625) (748)672) 200,741 111,411 (72,074) Fund Balance, Beginning of Year 191,294,418 2219141986 22,9141986 1 9,?386,?589 17,446,964 16,698,292 16,899,033 17,010,444 Fund Balance, End of Year 22,914,986 19,493,233 19,386,589 3,,,714.11..61964. 16,698,292 16,899,033 17,010,444 16,938,370 Recommended Fund Balance From 12, 417, 636 1Z159,880 1Z159,880 12,, 11 ,14'5 0 13, 559, 561 12, 578, 034 12, 944,143 13, 203, 025 To 18,626,454 18,239,821 18,239,821 18,117 9,1175 20,339,341 18,867,051 19,416,214 19,804,538 Fund Balance % of Subsequent Year Expenditures 37% 32% 32% 29% 25% 27% 26% 26% Revenues % Change from Prior Year -2.51% -7.41% 0.33% 1.68% 13.62% -7.35% 2.61% Expenses % Change from Prior Year 9.78% 4.75% ...,2.08% -0.33% 11.88% -7.24% 2.91% 12 BUDGE"P� W .11 FUND:: mo G EE �M . �M..., 1-1. ND Revenues, Expenditures, and Projected Fund Summary of Rev&irit..jes, IExpenditures, and f, und andIBalance 201...9 -.- 202 o 7010001000 60,000,000 50,000,000 A-01000,000 30,000,000 201000,000 10,000,00 II II II II II II II 2019 2020 Est 2021 222 2023 2024 2025 IIIIIIIIIIIIIIIIIIIII IReveinues Expenses IFuind Ballaince 13 I?evenue,,;, Expenditures, and Projected and Balances Summwry of Revenues, 1;;;;;;; In ii t,x sires, and IS m„j �r'i III Ince 201,,. 9 202 ,000,00 7,00 ,00 61000,000 5;000;000 4,000;000 3;000;000 2000000 1 000 00'0' ititititititititititt� rrrrrrrrrrrrrrrrrrrrd Illllllllllllllllllld ISM IIIIIIIIIIIIIIIIIIIII IRevenUes Expenses FUnd B ll ince 14 2019 2020 2020 2021. 2022 2023 2024 2025 Actual Budget Estimate loud et Forecast Forecast Forecast Forecast 2..,,, 1;; e bt S e iiry iii c e Ilf °:: t.rii Revenues Property Taxes 2,434,000 2,548,250 2,461,675 2,6.,, 0,'l,,.7'1. 3,943,686 3,652,500 3,649,100 3,643,800 Other Taxes 1,024,578 925,000 925,000 925,000 9211206 923,656 925,506 925,506 Intergovernmental Revenue 1,616,923 1,600,900 1,615,900 1,,162 , 00 1,615,500 51,500 53,045 54,636 Investment Income 84,168 35,000 16,000 1,,,5,000 15,000 15,300 15,606 15,918 Other Financing Sources 790,000 - - 600,000 - - - - Revenues Total 5,949,669 5,109,150 5,018,575 5, 51.1Ul 6,495,392 4,642,956 4,643,257 4,639,860 Expenditures Bond Principal 3,787,498 4,015,000 4,015,000 4-,27 ,000 4,145,000 2,385,000 2,455,000 2,545,000 Interest Expense 2,856,012 2,547,732 2,547,732 2,4-2J.p 99 2,300,892 21,1911,156 21119,606 2,024,306 Bank & Fiscal Fees 1,306 3,000 2,900 2,900 2,900 2,900 2,900 2,900 Expenditures Total 6,644,816 6,565,732 6,565,632 6,694.,7, 9 6,448,792 41579,056 4,5771506 41572,206 Excess (Deficiency) of Revenues & Other Sources Over Expenditures (695,147) (1,456,582) (1,5471057) (84.3, "' ,, 46,600 63,900 65,751 67,654 Fund Balance, Beginning of Year 4,150,506 3,455,359 3,455,359 1 p908p302 1,064,574 1,111,174 1,175,074 1,240,825 Fund Balance, End of Year 3,455,359 iiiiiiiiiiiiiiiiiiiiiillillillillillillilliillillillillillillillilillillillillillillillillillillilliillillillillillillilliillillilillillillillilillillillillillillillillillillilliillillillillillillilliillillilillillillillilillillillillillillillillillillilliillillillillillillilliillillilillillillillilillillillillillillillillillillilliillillillillillillilliillillilillillillillilillillillillillillillillillillilliillillillillillillilliillillilillillillillilillillillillillillillillillillilliillillillillillillilliillillilillillillillilillillillillillillillillillillilliillillillillillillilliillillilillillillillilillillillillillillillillillillilliillillillillillillilliillillilillillillillilillillillillillillillillillillilliillillillillillillilliillillilillillillillilillillillillillillillillillillilliillillillillillillilliillillilillillillillilillillillillillillillillillillilliillillillillillillilliillillilillillillillilillillillillillillillillillillilliillillillillillillilliillillilillillillillilillillillillillillillillillillilliillillillillillillilliI 1,998,777 1,908,302 1,,,,064., 574. 1,111,174 1,175,074 1,240,825 1,308,479 Recommended Fund Balance 1,498,666 1,465,301 1,465,301 "1..., 4 2 ,446 1,398,078 1,372,303 1,337,153 1,306,678 Revenues % Change from Prior Year -14.13% -15.65% 14.52% 11.01% -28.52% 0.01% -0.07% Expenses % Change from Prior Year -1.19% -1.19% 1.97% 7% -3.67% -28.99% -0.03% -0.12% Summwry of Revenues, 1;;;;;;; In ii t,x sires, and IS m„j �r'i III Ince 201,,. 9 202 ,000,00 7,00 ,00 61000,000 5;000;000 4,000;000 3;000;000 2000000 1 000 00'0' ititititititititititt� rrrrrrrrrrrrrrrrrrrrd Illllllllllllllllllld ISM IIIIIIIIIIIIIIIIIIIII IRevenUes Expenses FUnd B ll ince 14 Revenue,,;, h.xpenditures, and Projected Fund Balances Summary of Revenues, Expenditures, and fund Valance 2019 - 2025 10,000,000 9,000,000 8,000,000 "7,000,aoo 6,000,000 s,000,000 anon o00 3,400,000 21000,000 'I II II I 1,000,000 zoic zazo En zoz1 zozz mzi zozn 202 - •Revenues Expenses iii Fund Balance 15 2019 2020 2020 2021. 2022 2023 2024 2025 Actual Budget Estimate Ifud et Forecast Forecast Forecast Forecast 2. -.- Capital IIII iiixi Illy iii ve iiiiinu e iiiit IIII°° a iiia d Revenues Other Taxes 1,370,000 1,389,000 11222,320 1.p325p000 1,371,375 1,412,516 1,454,892 1,498,539 Intergovernmental Revenue - 900,000 900,000 500,000 - 5,000,000 - - Investment Income 32,018 16,900 15,000 1,,,5,000 15,150 15,453 15,762 16,077 Other Financing Sources 750,000 - - 750,000 750,000 765,000 780,300 795,906 Revenues Total 2,152,018 2,305,900 2,137,320 2p590,000 21136,525 7,192,969 21250,954 21310,522 Expenditures Contractual Services 9,205 1311182 130,182 ""' - - - - Other Expenditures 57,079 437,921 286,632 !386p897 710,000 780,000 480,000 100,000 Land Improvements (3,131) 100,000 - ""' - - - - Building Improvements 110,123 165,000 125,000 838pOOO 1,720,000 410,000 825,000 215,000 Office Equipment - 14,800 5,000 ""' 70,000 - - - Other Equipment 551,904 631,950 248,849 277..000 245,000 804,000 - - Motor Equipment - 82,000 - ""' - - - - Infrastructure 515,140 1,807,304 1,449,268 1,,,,1,,,04-,34 0 633,560 6,725,331 1,002,137 1,293,980 Expenditures Total 1,240,320 3,370,157 2,244,931 2,8 „ 6,23" 3,378,560 8,7191331 2,307,137 1,608,980 Excess (Deficiency) of Revenues & Other Sources Over Expenditures 911,698 (1,064,257) (107,611) (23 6p237) (1,242,035) (1,526,362) (56,183) 701,542 Fund Balance, Beginning of Year 2,414,796 3,326,494 3,326,494 3,218,883 3,002,646 1,760,611 234,249 178,066 Fund Balance, End of Year 3,326,494 2,262,237 3,218,883 3,?002p646 1,760,611 234,249 178,066 879,608 Recommended Fund Balance From 660,625 941,012 941,012 94.1,,,,0'1.2 941,012 941,012 941,012 941,012 To 1,0001000 1,000,000 11000,000 1,,,0000,0 11-000,000 1,0001,000 11-000,000 1,0001000 Revenues % Change from Prior Year 7.15% -0.68% 12.32% 2 -17.51% 236.67% -68.71% 2.65% Expenses % Change from Prior Year 171.72% 81.00% 16."% ." 20.39% 158.08% -73.54% -30.26% Summary of Revenues, Expenditures, and fund Valance 2019 - 2025 10,000,000 9,000,000 8,000,000 "7,000,aoo 6,000,000 s,000,000 anon o00 3,400,000 21000,000 'I II II I 1,000,000 zoic zazo En zoz1 zozz mzi zozn 202 - •Revenues Expenses iii Fund Balance 15 BUDGE'r BY FUND:: STREET IMPROVEMENT CONS"l," Revenues, Expenditures, and Projected and Balances 2019 2020 2020 Actual Budget Estimate 23 .,,, Stiiireet III iii°ri III iiipove iiimni e iiilit Co iiia stiiru c 1::: a iiiri d Revenues Other Taxes Licenses, Permits & Fees Intergovernmental Revenue Investment Income Reimbursements Other Revenue Other Financing Sources Revenues Total Expenditures Contractual Services Other Expenditures Infrastructure Interfund Transfers Expenditures Total Excess (Deficiency) of Revenues & Other Sources Over Expenditures Fund Balance, Beginning of Year Fund Balance, End of Year .. a "" �' � uoi urv" m "" w 2021.UND rAl 2022 2023 2024 2025 Ifud et Forecast Forecast Forecast Forecast 2,072,694 2,074,000 1,798,320 1,,,,975,000 2,071,375 2,133,166 21196,801 210262,334 1,516,296 1,616,500 1,500,000 11,,,,500,000 1,522,500 1,552,950 1,584,009 1,615,689 - - - 852,000 5,122,000 - - - 29,227 8,500 9,000 11,,,0,000 10,100 10,302 10,508 10,718 6,297 15,000 5,000 5,000 5,125 5,228 5,333 5,440 121253 25,000 18,000 25,000 25,000 25,500 26,010 26,530 - 475,000 - ""' - - - - 3,636,767 4,214,000 3,330,320 4,367,000 8,756,100 31727,146 3,8221661 3,9201711 321175 40,000 40,000 40,000 40,000 41,000 42,025 43,076 - - - 80P000 - - - - 2,978,303 3,850,000 3,751,200 31 0 ,000 9,272,000 3,252,000 3,282,000 3,312,200 - - - 540pOOO - - - - 3,010,478 3,890,000 3,791,200 4,367,000 00 9,312,000 3,293,000 3,3241025 3,355,276 626,289 324,000 (460,880) " (5550900) 434,146 498,636 565,435 1,421,610 2,047,899 2,047,899 1,,,1 7p01„.9 1,587,019 1,031,119 1,465,265 1,963,901 2,047,899 2,371,899 1,587,019 "i,,,,5 ,0,,,9 1,031,119 1,465,265 1,963,901 2,529,336 Recommended Fund Balance 1,000,000 1,000,000 1,000,000 l...'000,00101 1,000,000 1,000,000 1,000,000 1,000,000 Revenues % Change from Prior Year 15.87% -8.43% 3.63% 100.51% -57.43% 2.56% 2.56% Expenses % Change from Prior Year 29.22% 25.93% 12.26% 113.24% -64.64% 0.94% 0.94% Summary of Revenues, Expenditures, arid Fwrid Balance zoic - zozs io,000,000 9,000,000 8,000,000 ],000,110 6,000,000 5,000,000 4,000,000 31000,000 I UNION I I VIII I I VIII I I I I 2.000,000 NUNN NUNN 1,000,000 2019 2020 Est 2021 2022 2023 2024 2025 • Revenues • Expenses iii fund Balance W 'TYPE:!! BUDGur,,, uoi 'w.0 °IIP CONSTRUCTION 1 .^ . , 1 ,,, 1 1 . 1 � mo urv„ m "' S ,,,, . . . . ,y BY I'71.00D Revenues, Expenditures, and Projected and Balances 17 2019 2020 2020 2021. 2022 2023 2024 2025 Actual Budget Estimate Budget Forecast Forecast Forecast Forecast 24 -.- 1::11 ood Coiiintiiir l Collum stiiiructiii oin III°°: u iii1 d Revenues Other Taxes 345,422 464,000 300,000 -4-1,,000 1,785,375 476,344 516,494 559,754 Intergovernmental Revenue - 888,000 1,578,000 6p4 -00p000 1,400,000 - - - Charges For Services 27,796 40,000 25,000 28,000 8,200 8,364 8,531 8,702 Investment Income 18,516 16,500 8,000 8,000 8,080 8,242 8,407 8,575 Reimbursements 24,907 16,800 24,000 45,,000 25,625 26,138 26,661 27,194 Other Financing Sources - 3,393,000 3,393,000 2,p 9 ,, - - - - Revenues Total 416,641 4,818,300 5,328,000 9,?7].2,?000 3,227,280 519,088 560,093 604,225 Expenditures Contractual Services 74,717 122,400 45,000 1.22p400 00 124,236 127,342 130,526 133,790 Utilities 3,271 3,570 1,000 3,570 3,624 3,660 3,697 3,734 Commodities & Supplies 2,459 5,100 4,500 5pl.00 5,177 5,268 5,360 5,454 Other Expenditures 1,000 5,000 5,000 5,0OO 5,000 5,000 5,000 5,000 Other Equipment - 280,000 33,260 ""' - 450,000 400,000 - Distribution Systems 20,833 788,000 - - - - - Infrastructure 1,768,062 5,685,730 5,458,800 9,623,,,,000 2,631,000 171,000 171,000 171,000 Expenditures Total 1,870,342 6,889,800 5,547,560 % 57p 0 2,7691037 762,270 715,583 318,978 Excess (Deficiency) of Revenues & Other Sources Over Expenditures (1,453,701) (2,071,500) (219,560) (4-5,070) 458,243 (243,182) (155,490) 285,247 Fund Balance, Beginning of Year 1,720,859 267,158 267,158 47,?598 2,528 460,771 217,589 62,099 Fund Balance, End of Year 267,158 (1,804,342) 47,598 2p528 460,771 217,589 62,099 347,346 Recommended Fund Balance From 6141332 668,000 668,000 668pOOO 668,000 668,000 668,000 668,000 To 110001000 1,000,000 11-0001,000 1,,,, 0 ',000 11-000,000 11,0001,000 1,0001000 110001000 Revenues % Change from Prior Year 1056.46% 1178.80% 101.56% -66.77% -83.92% 7.90% 7.88% Expenses % Change from Prior Year 268.37% 196.61% 41.62% -71.62% -72.47% -6.12% -55.42% Summary of Revr gib, , Expenditt,,,i res, arid f, t ind Balance1,,.9 2025 1,,.21000,000 100000,000 ,000,000 6,000,000 4;000;000 2,000, 00 2019 2020 Est 2021 2022 2023 2024 202'1;;; IIIIIIIIIIIIIIIIIIIII Revenue.,.; xin e ins e. F Li in d 11I::1 a II a in c 17 1" S I UND BUDGE'r BY FUND:: P0110E & 1 3 1 N FUND P 1?evenue,,;, Expenditures,and Projected FdBalanc 2019 2020 2020 2021. 2022 2023 2024 2025 Actual Budget Estimate fludget Forecast Forecast Forecast Forecast 025 -.- Ilio lice & Fire 113t.jiii III diii ng Coiiia st. Revenues Investment Income 692,103 36,500 77,000 Revenues Total 692,103 36..500 77,,000 Expenditures Contractual Services 577,900 207,019 99,075 Building Improvements 17,692,413 13,987,311 13,519,895 Interfund Transfers - - - 600,000 Expenditures Total 181270,313 14..194..330 13..618,970 600,000 Excess (Deficiency) of Revenues & Other Sources Over Expenditures (17j,578j,210) (14..157..830) (13j,541,,970) (600p000) Fund Balance, Beginning of Year 31,720,180 14,141,970 14,141,970 600,000 Fund Balance, End of Year 14,141,970 (15,860) 600,000 Recommended Fund Balance From 405,120 TO 810,240 Revenues % Change from Prior Year -94.73% -88.87% +++ Expenses % Change from Prior Year -22.31% -25.46% 95.775vo -100.00% Summary ofRevenues, 11:..:..:Apenditures, and IFurid Balance 201 9 2025 20;000,,000 1 8,000,000 ,,;1,,.0,000,000 1 4-floo"000 121000;000 1 01000,000 8;000,,000 6,0001000 4,000,000 2;000"000 NUNN HJUJI)JUJI NINE 2019 2020 Est 2021 2022 2023 2024 IIIIIIIIIIIIIIIIIIIII Revenues IIIIIIIIIIIIIIIIIIIII Ilf;;;;:X1penses Fund Ilfulunce ISM, 18 TYPE:!! SPECIAL. REVENUE FUND BUDGE"'r BY FUND:: REFUSE DIS!"10SA.I... FUND I MI.') Revenues, Expenditures, and Projected and Balances IIIIIIIIIIIIIIIIIIIII IRevenues E x Ip ebin s e s iiiiii IFund Ballance Mt 2019 2020 2020 2021. 2022 2023 2024 2025 Actual Budget Estimate Ifud et Forecast Forecast Forecast Forecast 4 -.- Refuse Disllposalll Ilf:::.t.riiid Revenues Charges For Services 4,236,922 4,195,000 4,220,000 -,600,OOO 4,693,000 4,786,860 4,882,597 4,980,250 Fines & Forfeits 32,097 38,500 24,000 .0,?000 40,000 41,200 42,436 43,709 Investment Income 12,749 10,950 4,000 5,348 5,400 5,508 5,618 5,730 Reimbursements 87,362 1,000 5,000 5,0OO 7,500 7,650 7,803 7,959 Other Revenue 131,334 129,500 128,500 1.4 ,000 143,500 146,370 149,297 1521,283 Revenues Total 4,500,464 4,374,950 4,381,500 4.,,79Op348 41889,400 41987,588 5,087,751 5,189,931 Expenditures Personal Services, Salaries & Wages 303,562 319,769 2811185 33.6p889 323,180 332,876 342,863 353,150 Employee Benefits 127,995 133,567 134,665 1.29p532 131,763 135,807 139,981 144,289 Other Employee Costs 1,573 1,877 1,377 1,.p377 1,398 1,398 1,398 1,398 Contractual Services 4,172,530 4,292,177 4,275,697 4.p287p258 4,376,733 4,486,151 4,598,305 4,713,263 Utilities 158 493 - - - - - Insurance 6,942 7,950 7,950 1.2, 32 12,987 13,247 13,512 13,782 Commodities & Supplies 41,320 41,910 42,410 4.2p560 43,045 43,799 44,566 45,347 Expenditures Total 4,654,080 4,797,743 4,743,284,°9,34 ,° 4,889,106 5,0131278 5,1401625 5,271,229 Excess (Deficiency) of Revenues & Other Sources Over Expenditures (153,616) (422,793) (361,784) 294 (25,690) (52,874) (81,298) Fund Balance, Beginning of Year 1,241,775 1,088,159 1,088,159 726,375 726,375 726,669 700,979 648,105 Fund Balance, End of Year 1,088,159 665,366 726,375 726p375 726,669 700,979 648,105 566,807 Recommended Fund Balance From 479,774 479,035 479,035 488,911 501, 328 514,063 527,123 537,665 To 1,199, 436 1,197, 587 1,197, 587 11222,, 2 mm' .7 1, 253, 320 1,285,156 1, 317, 807 1, 344,163 Revenues % Change from Prior Year -2.79% -2.64°° 9.49% 2.07% 2.01% 2.01% 2.01% Expenses % Change from Prior Year 3.09% 1.92% 2.06% 2.54% 2.54% 2.54% Summary f Revenues,,IES p e Ini III t o IIS s, and Fund Balance 201,,,9 2025 61000,000 , 000, 000 4,000,000 3,000,000 2 000 000 1,000,000 201 ,,.9 2020 Est 2021 2022 2023 2024 2025 IIIIIIIIIIIIIIIIIIIII IRevenues E x Ip ebin s e s iiiiii IFund Ballance Mt BD G E'r FUND:: u ]"Oil I M J u 'A FUND e eue,, Expenditures, and Projected Fund Balance 2019 2020 2020 Actual Budget Estimate 41., I otoiiip Ilf°° ue III °"rax Ilf°° a iii1d Revenues Intergovernmental Revenue Investment Income Reimbursements Revenues Total Expenditures Contractual Services Utilities Commodities & Supplies Infrastructure Expenditures Total TYPE: SPECIAL. REVENUE FUND 2021. . 2022 2023 2024 2025 Budget Forecast Forecast Forecast Forecast 1,776,997 1,907,850 2,923,284 3,0 „ 5,7 5 3,089,940 1,957,000 2,015,710 2,076,181 30,212 16,500 19,500 5,0OO 7,500 7,650 7,803 7,959 9,684 10,000 10,500 1,,,0,000 10,000 10,200 10,404 10,612 1,816,893 1,934,350 2,953,284 3,1,,,00, 85 31107,440 11974,850 21033,917 21094,752 296,921 367,376 385,686 367,37" 372,885 382,207 391,762 401,556 1011101 204,000 204,000 254,000 207,060 209,131 2111222 213,334 381,622 380,000 380,000 380,000 385,700 392,450 399,318 406,306 1,002,772 11150,000 11150,000 2,0.,, .,,,000 21190,000 1,500,000 1,500,000 1,500,000 1,782,416 2,101,376 2,119,686 %1.00p376 3,155,645 2,483,788 2,502,302 2,521,196 Excess (Deficiency) of Revenues & Other Sources Over Expenditures 34,477 (167,026) 833,598 409 (48,205) (508,938) (468,385) (426,444) Fund Balance, Beginning of Year 2,431,136 2,465,613 2,465,613 %29%21.1. 3,299,620 3,251,415 2,742,477 2,274,092 Fund Balance, End of Year 2,465,613 2,298,587 3,299,211 3,299,620 3,251,415 2,742,477 2,274,092 1,847,648 Recommended Fund Balance From 95,138 100,138 100,138 96,565 98, 379 100,230 102,120 To 237,844 250,344 250,344 241,, „11 245,947 250,576 255,299 Revenues % Change from Prior Year 6.46% 62.55% 60.30% 0.21% -36.45% 2.99% Expenses % Change from Prior Year 17.89% 18.92% 47.54% % 1.78% -21.29% 0.75% Summmy of Revenues, [.:..:, In III IIr S, and Fi,,,i n l Inc 1... 9 2025 3,500,000 3,0001000 2,,500,00 20000000 1...p500000 000 500,000 2019 2020 Est 2021 2022 2023 2024 2025 IIIIIIIIIIIIIIIIIIIII Ivnues IIIIIIIIIIIIIIIIIIIIIExpenses IFuind Ballance 107,162 267,905 2.99% 0.76% all TYPE:!! SPECIAL. REVENUE FUND I?evenue,,;, Expenditures, and Projected and Balances 2019 2020 2020 2021. 2022 2023 2024 2025 Actual Budget Estimate Budget Forecast Forecast Forecast Forecast 42 -.- CI1[ Ilf; °3 Revenues Intergovernmental Revenue Other Revenue Revenues Total Expenditures Other Employee Costs Contractual Services Expenditures Total Excess (Deficiency) of Revenues & Other Sources Over Expenditures 214,034 562,800 497,300 388p868 442,000 453,302 464,890 476,772 89,837 60,000 85,000 79,632 50,000 51,000 52,020 53,060 303,871 622,800 582,300 468,500 492,000 504,302 516,910 529,832 72 - - - - - - 303,801 622,800 582,300 4-68,500 492,000 504,302 516,910 529,832 303,873 622,800 582,300-6 ,500 492,000 504,302 516,910 529,832 Fund Balance, Beginning of Year 2 - - - - - - Fund Balance, End of Year Recommended Fund Balance - - - - - - - Revenues % Change from Prior Year 104.96% 91.63% ...,24.78% .T 5.02% 2.50% 2.50% 2.50% Expenses % Change from Prior Year 104.95% 91.63% -,24.78% 5.02% 2.50% 2.50% 2.50% St.,jmmwry of Revenues, III;;;;;;; p e n d iib i line , and Fwnd Balance 201... 9 2025 ..00,000 600,000 500,000 4001000 300 000 200,00 x...00 000 2019 2020 Est 2021 2022 2023 2024 202-11.:: 3 IIIIIIIIIIIIIIIIIIIII Revenues IIIIIIIIIIIIIIIIIIIII Expenses Fund B II ince 21 TYPE:!! SPECIAL. REVENUE FUND 4 1 BUDGE"'r BY FUND:: ASSE T SO` MR.] FUND I UNJ..) I?evenue,,;, Expenditures, and Projected and Balances 2019 2020 2020 2021. 2022 2023 2024 2025 Actual Budget Estimate Budget Forecast Forecast Forecast Forecast 043 -.- Asset Seizwipe 1::::ui1id Revenues Fines & Forfeits 15,632 12,500 3,000 5p0OO 5,150 5,305 5,464 5,628 Investment Income 1,771 2,000 1,000 1.P000 1,010 1,030 1,051 1,072 Revenues Total 17,403 14..500 4,000 6,000 6,160 6,335 6,515 6,700 Expenditures Other Employee Costs - 1,000 500 1.1000 1,000 1,000 1,000 1,000 Contractual Services 2,500 3,000 2,000 31000 3,000 3,075 3,152 3,231 Other Expenditures - - - - 90,000 - - Other Equipment 21,057 21,000 18,000 3pOOO 3,000 3,000 3,000 3,000 Expenditures Total 23,557 25..000 20,500 7p000 7,000 97,075 7..152 7,231 Excess (Deficiency) of Revenues & Other Sources Over Expenditures (6.,154) (10.,500) (16..500) (1.P000) (840) (90,,740) (637) (531) Fund Balance, Beginning of Year 141,256 135,102 135,102 1 3 8,602 117,602 116,762 26,022 25,385 Fund Balance, End of Year iiiiiiiiiiiiiiiiiiiiiillillillillillillilliillillillillillillillillillilillillillillillillillillilliillillillillillillilliillillilillillillillillillilillillillillillillillillilliillillillillillillilliillillilillillillillillillilillillillillillillillillilliillillillillillillilliillillilillillillillillillilillillillillillillillillilliillillillillillillilliillillilillillillillillillilillillillillillillillillilliillillillillillillilliillillilillillillillillillilillillillillillillillillilliillillillillillillilliillillilillillillillillillilillillillillillillillillilliillillillillillillilliillillilillillillillillillilillillillillillillillillilliillillillillillillilliillillilillillillillillillilillillillillillillillillilliillillillillillillilliillillilillillillillillillilillillillillillillillillilliillillillillillillilliillillilillillillillillillilillillillillillillillillilliillillillillillillilliillillilillillillillillillilillillillillillillillillilliillillillillillillilliillillilillillillillillillilillillillillillillillillilliillillilillillilI 135,102 124,602 118,602 1,,,3,,,7p ° 02 116,762 26,022 25,385 24,854 Recommended Fund Balance 25,000 7,000 7,000 7p000 97,075 7,152 7,231 7,376 Revenues % Change from Prior Year -16.68% -77.02% -,58.62% 2.67% 2.84% 2.84% 2.84% Expenses % Change from Prior Year 6.13% -12.98% 72.00% 0.00% 1286.79% -92.63% 1.10% Summwry of Revenues, 11:..:..:..)(pendlot ulires, and FF u In IElaIII ance 201 9 2025 .1 %000 x"1::.40, 000 ;;;1::.20,000 100,000 80,000 60,000 40,000 20,000 Hill! IIIIIIIIIIIII IIIIIIIIIIIII 2019 HOUR[ 2020 Est 2021 2022 2023 2024 2025 IIIIIIIIIIIIIIIIIIIII Revenues roses l Fund 113lnce 22 TSPECIAL. REVENUE FUND ..4 .4 4 1 BUDGE"'r BY FUND:: 1"EDERM... I QU11"ABIX S1 1A.11.1 I 'U'NDS I MI.') Revenue,,;, Expenditures, and Projected and Balances 2019 2020 2020 2021. 2022 2023 2024 2025 Actual Budget Estimate fludget Forecast Forecast Forecast Forecast 044 -.- 1::�edeiiia III 11:..:..:.quftaIIIA III e Sl,iwre II::::wilds Revenues Fines & Forfeits 30,112 2,000 3,000-,000 4,120 4,244 4,372 4,504 Investment Income 126 100 50 1.00 101 103 105 107 Revenues Total 30..238 2,.100 3,050 4J.00 4,221 4,347 4,,477 4,611 Expenditures Contractual Services 1,000 500 1...000 1,000 1,025 1,051 1,077 Expenditures Total 1..000 500 1.1000 1"000 1,025 1,,051 1.,077 Excess (Deficiency) of Revenues & Other Sources Over Expenditures 30,,238 1'.100 2,550 3J.00 3..221 3.,322 3..426 3.,534 Fund Balance, Beginning of Year 20,307 50,545 50,545 53p095 56,195 59,416 62,738 66,164 Fund Balance, End of Year 50,545 51,645 53,095 56,]I„95 59,416 62,738 66,164 69,698 Recommended Fund Balance 1,000 1,000 1,000 1,,,, 000 1,025 1,051 1,077 1,099 Revenues % Change from Prior Year -93.06% -89.91% 95.24% 2.95% 2.99% 2.99% 2.99% Expenses % Change from Prior Year +++ +++ 0.00% 0.00% 2.50% 2.54% 2.47% St..jmmary of Revent..jes, 11:..:..:Apenditures, and Ft..iInd Balance 201 9 2025 80,000 70,000 60,000 50,000 40,000 30,000 20,000 1.0)000 Hill! 203...x; ............ 2020 Est 2023 2022 2023 2024 2025 IIIIIIIIIIIIIIIIIIIII Reveinues IIIIIIIIIIIIIIIIIIIII Expeinses IFuind Ballaince 23 TYPE:!! SPECIAL. REVENUE FUND I?evenue,,;, Expenditures, and Projected and Balances 2019 2020 2020 2021. 2022 2023 2024 2025 Actual Budget Estimate Budget Forecast Forecast Forecast Forecast 45 -.- [ .,1 III 1::: iii iiia e I11:::: u iiia d Revenues Fines & Forfeits Investment Income Revenues Total Expenditures Other Employee Costs Contractual Services Other Equipment Motor Equipment Expenditures Total Excess (Deficiency) of Revenues & Other Sources Over Expenditures 20,041 24,000 7,500 1,.0,000 10,300 10,609 10,927 11,255 317 300 200 200 202 206 210 214 20,358 24,300 7,700 1,,:0,200 10,502 10,815 11,137 11,469 2,949 1,000 500 1.P000 1,000 1,000 1,000 1,000 - 1,000 - 1.P000 1,000 1,025 1,051 1,077 11,346 - 1,500 1,,:, 1,000 1,000 1,000 1,000 - - - !i - - - - 14,295 2,000 2,000 4-8p000 3,000 3,025 3,051 3,077 6,063 22,300 5,700 (37,800) 7,502 71790 8,086 81392 Fund Balance, Beginning of Year 137,372 143,435 143,435 1,,,4-9,'3.35 111,335 118,837 126,627 134,713 Fund Balance, End of Year iiiiiiiiiiiiiiiiiiiiiillillillillillillilliillillillillillilliillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillilI 143,435 165,735 149,135 1,,,3,,,3,,,,335 118,837 126,627 134,713 143,105 Recommended Fund Balance 2,000 48,000 48,000 3,000 3,025 3,051 3,077 3,139 Revenues % Change from Prior Year 19.36% -62.18% 32.47% 7 2.96% 2.98% 2.98% 2.98% Expenses % Change from Prior Year -86.01% -86.01% 2300.00% -93.75% 0.83% 0.86% 0.85% Summwry 0:f Revenues, III;;;;;;; e n iit ui sires, and Fwnd Balance 201::: ,,, 2025 .1 60,000 140o000 ;;;x.20,000 100,000 80,000 60,000 40,000 20,000 Hill! 2019 2020 Est 2021 2022 2023 2024 2025 IIIIIIIIIIIIIIIIIIIII Revenues IIIIIIIIIIIIIIIIIIIIII Ill,,,,,. l eir°roses Fund 113alance 24 ��; . �; � � „ � �,3 :. FUND:: �',M �, F : F � :' BOARD . � w ,; SPEC ,,, VENUE Revenues, Expenditures, n rO d and Balances surnmary of aeve�iiues, rxpendn�xir,es, and Fund Balance za» - zozs 600,000 500,000 noo,ouo 300,000 200,000 100,000 1■ 1� 11 11 11 11 �1 2019 zaza Est zau mzz mzs mza mzs IReveinues Expenses Fund Ballaince 25 2019 2020 2020 2021. 2022 2023 2024 2025 Actual Budget Estimate Ifud et Forecast Forecast Forecast Forecast 46 -.- 1::biireiii °iiia Fire '"rax, Boaiiird IIII°°'uiiild Revenues Other Taxes 76,446 75,000 75,000 75,000 77,625 79,915 821273 84,700 Investment Income 4,799 3,200 2,500 2,5OO 2,525 2,576 2,628 2,681 Revenues Total 81,245 78,200 77,500 77p5OO 80,150 82,491 84,901 87,381 Expenditures Other Employee Costs 4,223 15,000 - 7,950 7,950 7,950 7,950 7,950 Contractual Services 4,972 10,500 8,500 11.pM 11,750 12,044 12,345 12,654 Insurance - 500 500 500 500 510 520 530 Commodities & Supplies 20,127 13,000 8,000 30pOOO 30,000 30,526 31,060 31,603 Building Improvements - 5,000 5,000 6pOOO 6,000 6,000 6,000 6,000 Other Equipment 11,601 24,000 70,771 1.0p750 10,750 10,750 10,750 10,750 Expenditures Total 40,923 68,000 92,771 66,950 66,950 67,780 68,625 69,487 Excess (Deficiency) of Revenues & Other Sources Over Expenditures 40,322 10,200 (15,271) 1,,, „,55 0 13,200 14,711 16,276 17,894 Fund Balance, Beginning of Year 398,022 438,344 438,344 4.23,0" 3 433,623 446,823 461,534 477,810 Fund Balance, End of Year 438,344 448,544 423,073 4.33,623 446,823 461,534 477,810 495,704 Recommended Fund Balance From 6,800 6,695 6, 695 6,,695 6,778 6,863 6,949 7,088 To 17,000 16,738 16,738 16,,73816, 945 17,156 17,372 17, 719 Revenues % Change from Prior Year -3.75% -4.61% ,,, °° 3.42% 2.92% 2.92% 2.92% Expenses % Change from Prior Year 66.17% 126.70% m„1.54% 0.00% 1.24% 1.25% 1.26% surnmary of aeve�iiues, rxpendn�xir,es, and Fund Balance za» - zozs 600,000 500,000 noo,ouo 300,000 200,000 100,000 1■ 1� 11 11 11 11 �1 2019 zaza Est zau mzz mzs mza mzs IReveinues Expenses Fund Ballaince 25 TYPE:: SPECIAL. REVENUE I'T Revenues, Expenditures, and Projected Fund Balances 2019 2020 2020 2021. 2022 2023 2024 2025 Actual Budget Estimate Budget Forecast Forecast Forecast Forecast 4 -.- 1;;; usfiiinessI11[ iiisbipiiict 1 -°°mind Revenues Other Taxes 998,357 1,033,595 639,000 935,OOO 967,725 992,236 1,017,431 1,043,328 Intergovernmental Revenue 449,141 514,000 200,000 450,000 450,000 463,500 477,405 491,727 Investment Income 11,049 6,500 5,000 5,000 5,000 5,100 5,202 5,306 Revenues Total 1,458,547 1,554,095 844,000 1.1390,000 11422,725 11460,836 1,500,038 11540,361 Expenditures Interest Expense 1,458,547 1,554,095 844,000 1.p390p000 1,422,725 1,460,836 1,500,038 1,540,361 Expenditures Total 1,458,547 1,554,095 844,000 `.p39 ,000 1,422,725 11460,836 1,500,038 1,5401361 Excess (Deficiency) of Revenues & Other Sources Over Expenditures - - - - - - - Fund Balance, Beginning of Year - - - - - - - Fund Balance, End of Year Recommended Fund Balance - - - - - - - Revenues % Change from Prior Year 6.55% -42.13% ...,10.56% 2.35% 2.68% 2.68% 2.69% Expenses % Change from Prior Year 6.55% -42.13% -10.56% 2.35% 2.68% 2.68% 2.69% St..jmrnary of R e e n t,j e 5, III;;;;;;; n d ii t a r , and IS m,i firm d Balance 201,,, 9 2025 1,,., 00,000 x.,000,000 1,,.,400,000 1,,.,20 ,000 800,000 600,000 400,000 200,000 20x..9 2020 Est 2021 2022 2023 2024 202°;; IIIIIIIIIIIIIIIIIIIII Revenues IIIIIIIIIIIIIIIIIIIII EIenses iiiiii Iund Ballance 26 4 1 BUDGE"'r BY FUND:: PROS P-1 X',"1..` AND MAIN lIf" I MI.') . ,�VENUE Revenues, Expenditures, and Projected and Balances r Lxp nseg Fund R5, �15. m 27 2019 2020 2020 2021. 2022 2023 2024 2025 Actual Budget Estimate Ifud et Forecast Forecast Forecast Forecast 49 -.- FliiposIll ect aiiild I aiiiiiia Revenues Property Taxes 425,541 738,000 969,000 1.p34 -8p000 1,315,322 2,299,855 2,677,205 2,703,977 Investment Income 27,744 15,500 5,000 5,0OO 5,050 5,151 5,254 5,359 Other Revenue 321229 - - - - - - Other Financing Sources 10,935,656 - 300,000 21800,000 Revenues Total 11,421,170 753,500 1,274,000 4,x,,,53,000 11320,372 21305,006 21682,459 21709,336 Expenditures Other Employee Costs 600 1,500 1,500 1.p5 1,500 1,500 1,500 1,500 Contractual Services 3511176 233,636 58,581 80P000 55,000 56,375 57,784 59,230 Commodities & Supplies - 1,500 - 1.p500 1,500 1,526 1,553 1,580 Other Expenditures 1,554,996 2,845,000 2,481,442 704-,000 525,000 1,348,917 1,696,346 1,728,651 Land Improvements 395,404 314,096 230,000 - - - - Building Improvements 852,918 6,688,082 6,231,651 - - - - Infrastructure - 500,990 11,000 1.00"000 100,000 100,000 100,000 - Bond Principal - - - 32 „,000 360,000 605,000 670,000 740,000 Interest Expense 432,737 786,447 786,447 698,?088 683,488 667,038 638,488 606,838 Bank & Fiscal Fees 225 1,000 1,225 1 p25 1,250 1,250 1,250 1,250 Expenditures Total 3,588,056 11,372,251 9,801,846 1 p906,338 1,7271738 2,781,606 3,1661921 3,139,049 Excess (Deficiency) of Revenues & Other Sources Over Expenditures 7,833,114 (10,618,751) (8,527,846) 2,2 6,662 (407,366) (476,600) (484,462) (429,713) Fund Balance, Beginning of Year 698,330 8,531,444 8,531,444 %598 2,250,260 1,842,894 1,366,294 881,832 Fund Balance, End of Year 8,531,444 (2,087,307) 3,598 2,25 ,,260 1,842,894 1,366,294 881,832 452,119 Recommended Fund Balance From 178,268 254,152 254,152 23,1700 48,300 130,832 165,718 179, 096 To 445,671 635,381 635,381 59,.250120,750 327,080 414,296 447, 740 Revenues % Change from Prior Year -93.40% -88.85% 451.16% -68.21% 74.57% 16.38% 1.00% Expenses % Change from Prior Year 216.95% 173.18% ...,83'.24% -9.37% 61.00% 13.85% -0.88% St..immary of Rev&nues, Expenditt,,,i res, and f, t,,,i n d Balance 201... 9 -.-2 . x...2.,000,000 10,000,000 ,000,000 6,000,000 4;000,,000 2. 000 000 2019 2020 Est 2021 2022 2023 2024 202'1;;; r Lxp nseg Fund R5, �15. m 27 4 TYPE:: 1"'N"'IT11PRISE FUND Revenues, Expenditures, and Projected Net 55 5 MNI�) Excess (Deficiency) of Revenues & Other Sources Over Expenditures (1,584,913) (5,554,027) (3,683,552) 51,4 8,0 „ 0 (51933,463) (79,352) 808,106 400,047 Unrestricted Net Assets, Beginning of Year 61960,517 513751604 51375,604 1,,,,6 2,052 7,1901092 1,256,629 1,177,277 1,985,383 Unrestricted Net Assets, End of Year 5,3751604 2019 2020 2020 2021. 2022 2023 2024 2025 2,180,973 Actual Budget Estimate Ifud et Forecast Forecast Forecast Forecast 5 .,,, Wateir a iiia d Se eiiip IIf°° a find 66.26% -31.86% 17.82% 7.69% 6.57% Expenses % Change from Prior Year 29.75% 16.69% Revenues 12.61% -10.38% 3.62% 8.60% Property Taxes (19,419) - - - - - - Licenses, Permits & Fees 20,600 20,000 5,000 5,0OO 5,075 5,177 5,281 5,387 Intergovernmental Revenue - - - - 1,500,000 1,500,000 11200,000 Charges For Services 14,877,642 16,140,840 15,800,645 "i,.7, 111.5,64!5 18,314,436 20,117,584 21,794,063 23,635,746 Fines & Forfeits 94,556 100,000 96,000 1.00"000 106,400 109,592 112,880 116,267 Investment Income 296,585 66,100 126,100 1,,,0:x,,,,11,,.00 109,188 111,372 113,599 115,871 Reimbursements 8,100 10,000 5,000 51000 5,125 5,228 5,333 5,440 Other Revenue 58,109 60,000 25,000 35,000 35,000 35,700 36,414 37,142 Other Financing Sources (3,014) - - ,. , 0 ,000 - - - - Revenues Total 15,333,159 16,396,940 16,057,745 27,263.p745 18,5751224 21,884,653 23,5671570 25,115,853 Expenditures Personal Services, Salaries & Wages 21254,225 2,349,752 21163,481 21400,591 2,448,182 2,521,629 2,597,282 2,675,202 Employee Benefits 904,358 1,020,929 1,004,842 969,0811,,, 985,157 1,015,451 1,046,723 1,079,005 Other Employee Costs 49,239 45,347 46,644 4-5,347 46,022 46,022 46,022 46,022 Contractual Services 8,719,252 9,233,013 8,934,097 9,405,386 9,320,916 9,038,575 9,239,546 9,445,537 Utilities 110,484 166,174 121,951 1,,,23,,,,„ 51, 123,780 125,018 126,268 127,531 Insurance 117,789 134,892 134,892 1,,,78,3.02 181,664 185,297 189,003 192,783 Commodities & Supplies 247,846 334,688 320,086 33,,,0,x.3 314,797 320,306 325,913 331,619 Other Expenditures 699,661 - - - - - - Building Improvements 436 505,000 385,000 - - - - Office Equipment - 11103 11103 1,,,,1,,,03 11120 11120 11120 11120 Other Equipment 114,088 178,778 177,800 1,,,32,800 133,818 133,818 218,818 188,818 Distribution Systems 3,331,975 6,812,543 5,283,653 7,03,,, ,000 9,050,400 6,900,400 7,270,400 8,905,400 Infrastructure 7,500 - - - - - - Bond Principal - 325,000 3251000 525,000 912,500 725,000 780,000 840,000 Interest Expense 398,563 841,248 841,248 662p681. 988,331 949,369 916,369 880,769 Bank & Fiscal Fees 225 21500 11500 1 p50 2,000 21,000 2,000 21000 Long Term Debt (37,569) - - - - - - Expenditures Total 16,918,072 21,950,967 19,741,297 23,,,,""' 63,""' O5 24,508,687 21,964,005 22,759,464 24,715,806 Excess (Deficiency) of Revenues & Other Sources Over Expenditures (1,584,913) (5,554,027) (3,683,552) 51,4 8,0 „ 0 (51933,463) (79,352) 808,106 400,047 Unrestricted Net Assets, Beginning of Year 61960,517 513751604 51375,604 1,,,,6 2,052 7,1901092 1,256,629 1,177,277 1,985,383 Unrestricted Net Assets, End of Year 5,3751604 (178,423) 1,692,052 7,l,,, 0,0 2 11-256,629 1,1771,277 1,9851383 2,3851430 Recommended Balance 3,067,104 2,180,973 2,180,973 2�,1 ,,3 m'mm' 2,264,318 2,332,247 2,402,215 2,450,259 Revenues % Change from Prior Year 6.94% 4.73% 66.26% -31.86% 17.82% 7.69% 6.57% Expenses % Change from Prior Year 29.75% 16.69% ...,0.85% 12.61% -10.38% 3.62% 8.60% �J Revenues, Expenditures, and Projected Net Assets(MAJOR FUND) Suiirniirn&iry of Revenues, Experiiiditures, and Net Assets 201,,,9 2025 30,000,000 ,,0001000 201000000 1P, 000 .1 01000,000 000 IIIlIl11111111I1111JJ1 �u�i»l>iu�u»1�� iu��»»>iu�u»»� ..111. ,11111; �� .�� 201 9 2020 IEst 2.02..1 2022 2023 2024 20215) IIIIIIIIIIIIIIIIIIIII Revenues Exl�,.)einses Net Assets 29 TYPE: 1"N"'IT11PRISE FUND Revenues, Expenditures, and Projected Net Assets Excess (Deficiency) of Revenues & Other Sources Over Expenditures (212,777) (79,858) (168,293) 39p988 42,211 (36,499) 19,800 21,106 Unrestricted Net Assets, Beginning of Year 600,337 387,560 387,560 219..267 259,255 301,466 264,967 284,767 Unrestricted Net Assets, End of Year 2019 Actual 2020 Budget 2020 Estimate 2021. Ifud et 2022 Forecast 2023 Forecast 2024 Forecast 2025 Forecast 053. -.,, Village 13airlding S ste iii m IIII°°'u iiil d 21,184 21,401 22,043 22,704 23,386 23,854 Revenues % Change from Prior Year -87.20% Revenues 1.77% 2.00% 2.00% 2.00% Expenses % Change from Prior Year -84.20% -85.41% Charges For Services 165,714 1911100 85,500 1.68p600 172,815 176,273 179,799 183,395 Investment Income 4,691 3,500 1,650 3p753 3,000 3,060 3,121 3,183 Other Revenue 2,965 3,000 750 2p372 2,000 2,040 2,081 21123 Other Financing Sources 1,370,265 - - - - - - Revenues Total 1,543,635 197,600 87,900 1.74p725 177,815 181,373 185,001 188,701 Expenditures 1,,., 200,00 Personal Services, Salaries & Wages 17,080 18,933 18,933 1.8p568 18,937 19,505 20,091 20,694 Employee Benefits 8,341 7,713 7,713 7p53.0 7,635 7,865 8,101 8,348 Contractual Services 94,640 199,912 178,674 57p759 58,118 59,571 61,061 62,587 Insurance 285 326 326 326 331 338 345 352 Commodities & Supplies 6,389 574 547 574. 583 593 603 614 Building Improvements - - - - 55,000 - - Infrastructure 27,058 50,000 50,000 50pOOO 50,000 75,000 75,000 75,000 Interfund Transfers 1,602,619 - - - - - - Expenditures Total 1,756,412 277,458 256,193 13 .,? 37 135,604 217,872 165,201 167,595 Excess (Deficiency) of Revenues & Other Sources Over Expenditures (212,777) (79,858) (168,293) 39p988 42,211 (36,499) 19,800 21,106 Unrestricted Net Assets, Beginning of Year 600,337 387,560 387,560 219..267 259,255 301,466 264,967 284,767 Unrestricted Net Assets, End of Year 387,560 307,702 219,267 259,2.55 301,466 264,967 284,767 305,873 Recommended Balance 56,865 21,184 21,184 21,401 22,043 22,704 23,386 23,854 Revenues % Change from Prior Year -87.20% -94.31% 1.77% 2.00% 2.00% 2.00% Expenses % Change from Prior Year -84.20% -85.41% ...,51.44% 4% 0.64% 60.67% -24.18% 1.45% Summary of eve n t..j „ , Expenditures, and Net Assets 201 9 2025 2,,000,000 1,,.1800,000 1,,.1600,000 1,,.,400,000 1,,., 200,00 i3O 0,000 00,000 0 , 0 400,000 200;000 2019 2020 Est 2021 2022 2023 2024 2025 IIIIIIIIIIIIIIIIIIIII Ievenes IIIIIIIIIIIIIIIIIIIII EIeir,ises Net Assets M p I4TYPE: wI1,IE FUND D BDErw , mm PARKING uuEREVENUE 7 WV Revenue,,;, Expenditures, and Projected Net Assets 2019 2020 2020 2021. 2022 2023 2024 2025 Actual Budget Estimate Ifud et Forecast Forecast Forecast Forecast 52 -.- Pairlding Systeiin Reve iiil u e IIII°° a iiil d Revenues Charges For Services Investment Income Other Revenue Revenues Total Expenditures Personal Services, Salaries & Wages Employee Benefits Contractual Services Utilities Insurance Commodities & Supplies Expenditures Total Excess (Deficiency) of Revenues & Other Sources Over Expenditures Unrestricted Net Assets, Beginning of Year 157,903 156,500 85,060 1.57,500 165,000 168,300 171,666 175,100 1,982 1,650 1,200 1,,,,585 1,600 1,632 1,665 1,698 1,395 21200 450 1,,,, X1..J.0 11,200 11224 11249 11274 161,280 160,350 86,710 1,,,60,201,,, 167,800 171,156 174,580 178,072 17,181 18,838 18,838 1,,,8,535 18,904 19,471 20,056 20,658 8,555 7,667 7,667 7,459 7,583 7,812 8,047 8,293 88,360 114,461 111,119 1.24,5 75 125,073 128,201 131,406 134,693 3,264 9,998 9,998 9p998 9 10,152 10,254 10,357 10,461 292 335 335 335 340 347 354 361 7,651 11,011 9,596 1,,,1,.poll. 111175 11,370 11,569 11,772 125,303 162,310 157,553 1,,71,,,,.,, l,,.3 173,227 177,455 181,789 186,238 35,977 (1,960) (70,843) (3 3p712) (51427) (6,299) (71209) (8,166) 125,619 161,596 161,596 90p753 79,041 73,614 67,315 60,106 Unrestricted Net Assets, End of Year 161,596 159,636 90,753 79, 41 Recommended Balance 40,578 42,978 42,978 43, 3 07 Revenues % Change from Prior Year -0.58% -46.24% 84.75% Expenses % Change from Prior Year 29.53% 25.74% 9.11% 73,614 67,315 60,106 51,940 44, 606 45,944 47,323 48,269 4.74% 2.00% 2.00% 2.00% 0.76% 2.44% 2.44% 2.45% Summary of Revenues, Expenditures, and Net Assets 2019 - 2025 200,000 180,000 160,000 140,000 120,000 100,000 80,000 60,000 40,000 20,000 2019 2020 Est 2021 2022 2023 2024 ■ Revenues ■Expenses IIIIIII Net Assets BUDGE'r BY FUND:: VEI I.ICI...E MAINTENAM"'T FUND FUND 'TYPE:!! IN"'rEIINAL S1 .. .. ... .. . 41",11VICT 1"UND Revenues, Expenditures, and Projected Net Assets 2019 2020 2020 2021. 2022 2023 2024 2025 Actual Budget Estimate Ifud et Forecast Forecast Forecast Forecast 060 .,,, Velhicle hAafinteinaince 1111°° a iiia d Revenues (53,841) 199,952 317,658 53p84-4. - (14,698) (30,172) (46,456) Charges For Services 2,046,358 2,520,488 2,520,488 2,357, „ 4 2,344,438 2,391,326 2,439,154 2,487,936 Investment Income 4,996 6,000 1,250 1,,pM.5 1,315 1,341 1,368 1,395 Other Revenue - - 500 7 3,,,4,3 3,,, - - - - Other Financing Sources 498 - 500 - - - - Revenues Total 2,051,852 2,526,488 2,522,738 2,359,11,,.!59 21345,753 21392,667 21440,522 21489,331 Expenditures 581, 634 576,329 576,329 586,4318 601, 841 617,674 633,947 646, 626 Personal Services, Salaries & Wages 1,019,883 11122,417 1,020,350 1,,,,`i,.1.9p 0 11141,898 11,176,158 11211,444 1,247,787 Employee Benefits 386,369 433,251 411,024 4.28p2O7 435,390 448,528 462,083 476,067 Other Employee Costs 4,396 4,750 4,000 7,25 0 7,322 7,322 7,322 7,322 Contractual Services 101,856 113,954 126,172 1,.25,'l,,.77 127,054 130,231 133,488 136,825 Utilities 4,454 5,431 4,525 4-,500 4,568 4,614 4,660 4,707 Insurance 11,706 13,405 13,405 1,,1.,202 11,426 11,655 11,888 121P126 Commodities & Supplies 576,171 629,183 622,594 606,2 X11,,, 615,051 625,813 636,765 647,909 Office Equipment 70 126 626 626 635 635 635 635 Other Equipment 788 4,019 2,384 2p384 2,409 2,409 2,409 2,409 Expenditures Total 2,105,693 2,326,536 2,205,080 2p305p31..5 5,3'1..5 2,3451753 2,407,365 2,4701694 2,535,787 Excess (Deficiency) of Revenues & Other Sources Over Expenditures (53,841) 199,952 317,658 53p84-4. - (14,698) (30,172) (46,456) Unrestricted Net Assets, Beginning of Year 396,720 342,879 342,879 660,537 714,381 714,381 699,683 669,511 Unrestricted Net Assets, End of Year 342,879 542,831 660,537 7 3,,,4,3 3,,, 714,381 699,683 669,511 623,055 Recommended Balance From 232, 654 230,532 230,532 234®5 mm' 5 240,737 247,069 253,579 258, 650 To 581, 634 576,329 576,329 586,4318 601, 841 617,674 633,947 646, 626 Revenues % Change from Prior Year 23.13% 22.95% ...,6.62% -0.57% 2.00% 2.00% 2.00% Expenses % Change from Prior Year 10.49% 4.72% 1 1.75% 2.63% 2.63% 2.63% St..immary of Revenues,,IES e In III t t.j IIr , and Net Assets 3,000;000 2;500,000 2,000,000 ...1...,000 0 11000,000 500,000 20"1...9 2020 Est 2021 2022 2023 2024 2025 IIIIIIIIIIIIIIIIIIIII Ievenes IIIIIIIIIIIIIIIIIIIII EIpenses iiiiii Net Assets MA err ,, Expenditures, and Projectedet Assets 2019 2020 2020 2021. 2022 2023 2024 2025 Actual Budget Estimate Ifud et Forecast Forecast Forecast Forecast 3,..,,, Velhicle Ilf 'e IIIA III ace ii ni e iiia IIII° a iiil d Revenues Charges For Services Fines & Forfeits Investment Income Reimbursements Other Financing Sources Revenues Total Expenditures Other Expenditures Motor Equipment Expenditures Total Excess (Deficiency) of Revenues & Other Sources Over Expenditures Unrestricted Net Assets, Beginning of Year 211321100 1,779,560 444,890 2pO34.p860 2,034,860 2,075,559 21117,071 210159,413 12,971 19,000 - - - - - 189,080 144,000 70,000 85,000 95,000 96,900 98,838 100,815 198,281 - - - - - - (120,310) - - - - - - 2,412,122 1,942,560 514,890 2,11.9, 21129,860 21172,459 2,215,909 2,260,228 854,467 - - - - - - (26,458) 1,554,390 1,844,000 1.p4 -92p000 3,242,000 1,198,000 3,014,000 974,000 828,009 1,554,390 1,844,000 1,,,,4-92,000 3,242,000 1,198,000 3,014,000 974,000 1,584,113 388,170 (1,329,110) 627,860 (11112,140) 974,459 (798,091) 1,286,228 8,599,289 10,183,402 10,183,402 8,854,292 9,482,152 8,370,012 9,344,471 8,546,380 Unrestricted Net Assets, End of Year 10,183,402 iiiiiiiiiiiiiiiiiiiiiillillillillillillilliillillillillillillillilillillillillillillillillillillilliillillillillillillilliillillilillillillillilillillillillillillillillillillilliillillillillillillilliillillilillillillillilillillillillillillillillillillilliillillillillillillilliillillilillillillillilillillillillillillillillillillilliillillillillillillilliillillilillillillillilillillillillillillillillillillilliillillillillillillilliillillilillillillillilillillillillillillillillillillilliillillillillillillilliillillilillillillillilillillillillillillillillillillilliillillillillillillilliillillilillillillillilillillillillillillillillillillilliillillillillillillilliillillilillillillillilillillillillillillillillillillilliillillillillillillilliillillilillillillillilillillillillillillillillillillilliillillillillillillilliillillilillillillillilillillillillillillillillillillilliillillillillillillilliillillilillillillillilillillillillillillillillillillilliillillillillillillilliillillilillillillillilillillillillillillillillillillilliillillillillilI 10,571,572 8,854,292 %4-82J.52 8,370,012 9,344,471 8,546,380 9,832,608 Recommended Balance 10,183,402 10,571,572 8,854,292 91482,J52 8,370,012 9,344,471 8,546,380 9,832,608 Revenues % Change from Prior Year -19.47% -78.65% 9.13% 0.47% 2.00% 2.00% 2.00% Expenses % Change from Prior Year 87.73% 122.70% -.4.01% 117.29% -63.05% 151.59% -67.68% Summary of Revenues, Expenditures, and Net Assets 2019 - 2025 12,000,000 10,000,000 8,000,000 6,000,000 4,000,000 2,000,000 ' ■ -' Hill 11H Hill 2019 2020 Est 2021 2022 2023 2024 ■ Revenues ■Expenses iiiiiii Net Assets ACX Revenue,,;, Expenditures, and Projectedet Assets 2019 2020 2020 Actual Budget Estimate 2 -.- CmmIllauteir ll e p III ace ii ni e iiiit IIII° a iiia d Revenues Charges For Services Investment Income Revenues Total Expenditures Other Expenditures Building Improvements Office Equipment Expenditures Total Excess (Deficiency) of Revenues & Other Sources Over Expenditures Unrestricted Net Assets, Beginning of Year 2021. . 2022 2023 2024 2025 Ifud et Forecast Forecast Forecast Forecast 162,897 159,979 39,994 1.78p400 178,400 181,968 185,607 189,320 10,084 - 2,500 1,,,,000 1,010 1,030 1,051 1,072 172,981 159,979 42,494 1.79p400 179,410 182,998 186,658 190,392 13,709 - - - - - - - 250,000 - - - - - 199,098 219,978 220,000 238,400 178,400 178,400 218,400 208,400 212,807 469,978 220,000 23 ,400 178,400 178,400 218,400 208,400 (39,826) (309,999) (177,506) (59,000) 11010 4,598 (31,742) (18,008) 744,465 704,639 704,639 527,133 468,133 469,143 473,741 441,999 Unrestricted Net Assets, End of Year 704,639 394,640 527,133 4. " ,x,,,33 469,143 473,741 441,999 423,991 Recommended Balance 704,639 394,640 527,133 4 ,.13,3 469,143 473,741 441,999 423,991 Revenues % Change from Prior Year -7.52% -75.43% 12.14% 0.01% 2.00% 2.00% 2.00% Expenses % Change from Prior Year 120.85% 3.38% 49.27Y -25.17% 0.00% 22.42% -4.58% u ern ern w, of Revenues, IIE;;;;;: pe n iiit gyres, and Netsets, , :.1 9 20211 800,000 ]00,000 600,000 500,000 400,000 300,000 200000 1000000 I I I I I I I I I 2019 2020 Est 2021 2022 2023 2024 IIIIIIIIIIIIIIIIIIIII IRevenUes Expenses Net Assets 1 M BUDGE'r BY FUND:: RISK MANAGEMEN"I"J"UND Revenues, Expenditures, and Projected Net Assets 63 -.- Rislk I a iiia a ge hille iiia IIf°° a iin d Revenues Charges For Services Investment Income Reimbursements Other Revenue Revenues Total Expenditures Contractual Services Insurance Commodities & Supplies Other Equipment Expenditures Total Excess (Deficiency) of Revenues & Other Sources Over Expenditures Unrestricted Net Assets, Beginning of Year 2019 2020 2020 2021. 2022 2023 2024 2025 Actual Budget Estimate Ifud et Forecast Forecast Forecast Forecast 7,280,300 7,738,478 7,770,379 7p 55, 1.9 7,926,756 8,085,291 8,246,996 8,411,936 (2,814) 16,000 700 3,0OO 2,000 2,040 2,081 21123 90,801 52,000 - 30,000 - - - - 1,685,810 1,656,000 1,719,200 1,,,, 54,000 1,773,000 1,808,460 1,844,629 1,881,521 9,054,097 9,462,478 9,490,279 9,542,611 ,,.9 91701,756 91895,791 101093,706 101295,580 4,800 40,000 35,000 „ , O O0 40,150 41,154 421183 43,238 9,423,599 9,542,800 9,150,760 9p!324-,300 9,667,000 9,860,340 10,057,547 10,258,697 4,914 22,500 6,500 5 , 0 0 0 50,000 50,875 51,765 52,671 52 - - - - - - 9,433,365 9,605,300 9,192,260 %63,.4-p300 9,757,150 91952,369 10,151,495 10,354,606 (379,268) (142,822) 298,019 (731 .) (55,394) (56,578) (57,789) (59,026) 3,678,133 3,298,865 3,298,865 3,596,8 . 3,525,203 3,469,809 3,413,231 3,355,442 Unrestricted Net Assets, End of Year 3,298,865 iiiiiiiiiiiiiiiiiiiiiillillillillillillilliillillillillillillillilillillillillillillillillillillilliillillillillillillilliillillilillillillillilillillillillillillillillillillilliillillillillillillilliillillilillillillillilillillillillillillillillillillilliillillillillillillilliillillilillillillillilillillillillillillillillillillilliillillillillillillilliillillilillillillillilillillillillillillillillillillilliillillillillillillilliillillilillillillillilillillillillillillillillillillilliillillillillillillilliillillilillillillillilillillillillillillillillillillilliillillillillillillilliillillilillillillillilillillillillillillillillillillilliillillillillillillilliillillilillillillillilillillillillillillillillillillilliillillillillillillilliillillilillillillillilillillillillillillillillillillilliillillillillillillilliillillilillillillillilillillillillillillillillillillilliillillillillillillilliillillilillillillillilillillillillillillillillillillilliillillillillillillilliillillilillillillillilillillillillillillillillillillilliillillillillilI 3,156,043 3,596,884 3,525,203 3,469,809 3,413,231 3,355,442 3,296,416 Recommended Balance 1,305,500 1,305,500 1,305,500 11288,f 7. 95 1,288,795 1,288,795 1,288,795 111288,795 Revenues % Change from Prior Year 4.51% 4.82% 0.85% 1.67% 2.00% 2.00% 2.00% Expenses % Change from Prior Year 1.82% -2.56% 0.09% 1.49% 2.00% 2.00% 2.00% Summary of Revenues, Expenditures, and Net Assets 2019 - 2025 12,000,000 10,000,000 8,000,000 6,000,000 4,000,000 2,000,000 2019 2020 Est 2021 2022 2023 2024 ■ Revenues ■Expenses uiiiii Net Assets 2025 From: Finance Commission, Village of Mount Prospect To: Arlene Juracek — Mayor, and the Village Board of Trustees Date: October 23, 2020 Subject: Recommendation from the Finance Commission At our recent Finance Commission meeting of October 22, 2020, the Finance Commission discussed the proposed operating budget for the year 2021. A synopsis of the discussion as well as a recommendation from the Finance Commission is as follows: a) The Finance Commission agreed that the presentation was done professionally and we recognize the efforts of the staff. b) Director of Finance, Amit Thakkar provided an update regarding minor adjustments to the budget, including a reduction in the funds allocated for the Sister Cities Commission. He also provided Commissioners with data on the combined overtime expenditures for Police, Fire, and Public Works and current property tax collection totals. As a follow-up to our Joint Workshop with the Village Board, Director Thakkar presented a breakdown on the average cost of municipal services for residents in addition to the property tax levy. c) The Commission engaged in a discussion about the combined water and sewer rate increase previously approved and the proposed 8% rate increase for refuse services. Staff provided context for our discussion with an overview of the 2017 Water Rate Study and pointed out that the infrastructure replacement for the water/sewer utilities were showing a replacement cycle of 600 years. With the rates implemented after the study, the replacement cycle has been improved to 130 years. Staff also informed us about the comparative rates for other Northwest Suburban Municipal Joint Action Water Agency (NSMJAWA) members and that the rates are fairly compatible. The Finance Commission questioned the reasoning behind the refuse rates and how it is determined. Staff informed the Commission that the refuse rates include Republic Service contractual services, which increases by 2.25 percent each year. On top of that there are tipping fees payable to Solid Waste Agency of North Cook County (SWANCC) and it also increases each year based on the financial needs of the SWANCC. There is also a leaf and yard waste collection program overseen by the Village and utilizing the Village's own staff, equipment and other operating costs. Staff also informed the Commission about the current refuse rates as listed below: Approved Actual Year Increase Charges Savings 2016 235.00 235.00 - 2017 250.00 235.00 15.00 2018 258.00 235.00 23.00 2019 258.00 235.00 23.00 2020 258.00 235.00 23.00 2021- Proposed 258.00 253.80 4.20 W The Commission expressed concern over the proposed rate increase. While the budget proposes a zero percent levy increase, which will help ease financial pressure on our residents in the midst of a pandemic, we are simultaneously increasing service charges that may have an adverse financial impact at an already challenging time. Staff reiterated that an 8% rate increase seems higher but the monthly rate will go up by $1.57. Commissioners noted, however, that due to the pandemic many residents are working from home with their children e - learning from home. Use of water may have increased for families over the course of this year, with the possibility that some are already seeing higher than average water bills. The Commission acknowledges the fact that the rates have remained at the 2016 level and it was fiscally responsible not to increase the rates from 2017 to 2020. During this period, the Refuse fund balance was used to offset the deficit, but now an attempt is being made to align the charge for services with the actual cost of the program. The Commission also discussed the impact of incremental charges on multi -family units. Staff also informed the Commission multi -family refuse rates are the responsibility of landlords and tenants do not get a bill. However, the end user ultimately pays the final charge and an increase in refuse rates might result in an increase in the monthly rent. Staff informed that the average multifamily unit has 2 Cubic Yard dumpster with three pickups in a week, and their rate will be up from $179.82 to $194.3, that is an increase of $14.48 per month. Staff showed that with 8% increase, the refuse utility will break even and for future years, the increase will be around 3.5%. In the end, the Commission acknowledged that there is a need to increase the refuse rates and agreed with the staff recommendation, but the Commission also recommends to have consistent and affordable increases over time instead of increasing the charge by a large percentage in a single year. The Commission advises that moving forward an increase in the user charges be based on the actual increase in the program costs. A motion and second was made to recommend adopting the budget as presented with a recommendation that any future user charge increases should be in line with annual increases in the program costs. The motion was approved unanimously. With this meeting we concluded our annual workplan. Please let me know if you have any questions or concerns. Respectfully Submitted Trisha Chokshi Chair— Finance Commission 37