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Home My WebLink AboutOrd 6566 03/16/2021 Ordinance making certain amendments to the annual budget adpoted for the fiscal year commencing January 1, 2020 and ending December 31, 2020ORDINANCE NO. 6566 AN ORDINANCE MAKING CERTAIN AMENDMENTS TO THE ANNUAL BUDGET ADOPTED FOR THE FISCAL YEAR COMMENCING JANUARY 1, 2020 ANIS ENDING DECEMBER 31, 2020 PASSED ANIS APPROVED BY TIFF PRESIDENT AND BOARD OF TRUSTEES the 16 day of March , 2021 Published in pamphlet farm b authority of the corporate authorities of the Village of Mount Prospect, Illinois the day of March , 2021. ORDINANCE A: CE NO. 6566 AN ORDINANCE AKINCERTAIN AMENDMENTS ► TO THE ANNUAL AL BUDGET ADOPTED FOR THE FISCAL YEAR COMMENCING JANUARY 1, 2020 AND ENDING DECEMBER, 31, 2020 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, 2020 and ending December 31, 2020 was adopted through the passage of Ordinance No. 6485 approved by the Corporate Authorities of the Village of Mount Prospect on. November 15, 2019; and WHEREAS, the President and :Board of Trustees of the Village of Mount Prospect have passed and approved Ordinance No. 6506 on March 3, 2020, Ordinance No. 6531 on September 15, 2020, Ordinance No. 6545 on November 1.7, 2020 and Ordinance No. 6559 amending the annual budget for the fiscal year commencing January 1, 2020 and ending December 31, 2020; and WHEREAS, the President and hoard 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, 20120 and ending December 31, 2020; and WHEREAS, the President and Board of Trustees of the Village of Mount Prospect believe the changes, as specified on the attached January 1, 2020 through December 31, 2020 Budget Amendment No. 5 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 AI+NFD BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT, COOK. COUNTY, ILLINOIS: ECTION ONE: That the fiscal year budget for January 1, 2020 through December 31, 2020 for the Village of Mount Prospect is hereby amended, as detailed on Budget Amendment No. 5 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: Grossiq Hatzis, Hoefert, Rogers, Saccotelli, Zadle PASSED and APPROVED this 16 day of March 92021. Arlene A. Ju'racc Mayor &x#r4--W1 Karen Agora ros Village Clerk Village of Mount Prospect Budget Amendment No. 5 Fiscal Year January 1, 2020 to December 31,, 2020 Revenues Current Budget Increase/ Amended ,Fund/Account Number Amount (Decrease) Budget Amended Funds 002 Debt Service Fund Amendments 002.00.00.00.2-519.487.001 - Transfer In Transfer In 10105,000 1,105,000 ................................................. Amendments Total 1,W105,1000 1,0105,P000 ... . . ....... . . ....... . .............. Other Budgeted Accounts for the Fund 5J09,150 51109,150 .1� ... . . . . . . . . .............................................................................. ................ ............... .............. Wf#fAf . . ..... 002 Debt Service Fund Total 5p109,150 lo105,000 6�214..150 023 Street Improvement Construc Fund Amendments 023.487.001 -Transfer In Transfer in 475.,000 (475,000) .... . . ...... . nn. ................................................................................ Amendments Total 475j,000 (475,pOOO) . .. . . ....... . ........... ........... Oth,,e,,r,,,,,,B u dgeted.-Accounts for the Fund 31739,000 31739uuuu,.000 .............. ........... . nnnn�;... . . . . . . ............................................... ................ 023 Street Improvement Construc Fund Total 4/214r000 (475,000) 3,.739..000 I-- puwwrwwruwnuwww. . ......... .............. 024 Flood Control Construction Fund Amendments 024.420-003 - Other Grants Other Grants 888,000 460,000 113481001 024.487.001- Transfer Immmmmmmmmmmmmm�wuwwwmnwn Transfer In 3,3931000 100.,000 3.,493,,000 Amendments Total . . .............. . ...... . .... 40281,pOOO ..... . . . . .............. ............................... . ...................................................uwrumvnwwwwwnow 560,r000 4,p841j,000 Other Budgeted Accounts for the Fund 537,300 . . 537 300 024 Flood ControlConstruction Fund Total .... . ....... . . ... 4y88,300 1 ........................... ........... . .... . . . . ........ — 560,pOOO 51378y3OO 041 Motor Fuel Tax Fund Amendments 041.419.017 - State Grants Rebuild Illinois Grant 11189,940 1,189,94Q Amendments Total 1,189,940 1,189,940 ........ . . ....mmwrmmrnrnrnr� . . . . . . . . . . . . . ............................................... . .. .. ... ... ... . _-- Other Budgeted Accounts for the Fund 1.,934,350 1,934,350 041 Motor Fuel Tax Fund Total 11 '10,189094 , p2 - I ................ 90 . .......... 049 Prospect and Main TIF District Amendments 049-487,001 - Transfer In Transfer In 590,000 590,000 ,40....... . . . . . . . . . . . . . ...................................... ......... . ......wwwwwwwwwwrrnrrnrrr�mm� ...... ....... Amendments Total 590,F000 590j,000 Other Budgeted Accounts for the Fund 753,,500 753,p500 . . ...... . ...........MH',SrnrMr....... . . . 049 Prospect and Main TIF District Total 753,,500 590,F000 1,?343.,500 . . . . . ................ . . . .... . ........ . ....... . . . . ............ Amended Funds Total 16,,829;,300 2j,969j,940 19j,799,r240 . . . ......... . . . ..... . ..... ............ . . ..... .wuunw I All Other Village Budgeted Accounts 98,526,166 98,526,166 Total All Funds 115,355 466 20969940 118o325P406 Village of Mount Prospect Budget Amendment No. S Fiscal Year January 1, 2020 to December 31, 2020 Expenditures Current Budget Increase/ Amended Fund/Account Number Amount (Decrease) Budget Amended Funds 001 General Fund Amendments 001.00.00.00.0.000.697.001- Transfers Transfer Out ��wwwww �� mwuwwrvi .._. 31868,000 �. r wr ....mmmm�mmmm www........�wwwwwwwwwwww.w.w.wxw� 730,000 41598,000 i r�r�r�rw,wwww�mr�mr..... Amendments Total �m�m�mmm��mM�....m. __.��....mmmmmmmm�mmmmmmmmmmmmmmmmmmmmmmmmmmwwwwwww�wwwwwwwwwww 3,868,000 .mmmmmmmmmmnmmm...mmmmm.�......m.�. mmmmm�mmmmm',�„,� 730,000 4,598,000 w Other Budgeted Accounts for the Fund w�www ��,�, �mmmmmm-..� _ 57,604,886 ry .�.mmnmmnmmmmmw.mm�.� 57604,886 001 General Fund Total mmnmmmmmmmmmmmm�mmnmmmwan www wwaruuwww�wuw��ty' rtu(mari •, innnnnnn ww.vwwwuwwwww w�wwwwwiwwwi'awvux lR N'+Hw N1�fi' mmm�m 61,,472,886 w....ww v .. ... .. � m�mmn mmmmmmmmmmmmmmmmnmmmm 730..000 62,?202,,886 .. umvsmwuuwuwuwwwwww,v�renrenama-wvwma,'w .. .. .. ry 025 Police & Fire Building Const. Amendments 025.691.001 - Transfer Out 590,000 590,000 _ mmmmmmmmmm�. m�m.,.......��w Amendments Total 590,000 5900000 -mmm mmm..wwwww m �m.mw ww ...... mnmmmmmmm��w m�mm-mmmmmmmmmmm �m.�w�mwww ww� Other Budgetedmmm Accounts for the Fund 14,149330 14,149,330 _ m�mmmmm mmmmmmmmm�wwwwww�wwwww�ww. �k �� mmnmmmm�w�w� mmm 025 Police ire Building Const. Total 14,?149p330 590,0000 14 739p330 m M mmmm m w w w �..... �mmmm w w ww ww w .............. �m�mmm�m�mmm—mmmmmnm�m�� www,rv�>rvw�. 046 Foreign Fire Tax Board Fund Amendments 046.70.71.00.0.301.665.021 - Other Equipment Furniture & Equipment 18,000 55,000 73,000 mmn� ��wwww�www Amendments Total 18,000 55,000 73,000 mmmmmmmmm....� m�m�m��m�mmmmmm.. .. mm.��mmmmmm��ww��wwwwwwwwww.a.w ...�mmmmmmn ww....wwwww�ww � Other Budgeted Accounts for the Fund 50,000 50,000 imm,; -------- 046 ,. Foreign ite Tax Board Fund Total 680000 �mwmwwrvrvrvry _ wwwwww Amended Funds Total 75,690,216 1,375,000 771065,216 i�mmmmmmmnmmmummmuwiw.mminn ...... . mmmmmmm wwwvw Iuwu�Wvgp",)NiNINI . , n�ixmmmwwrcnwmrnmmwwwwwm9mavw f � mmmmndndnnmvaws mm�nnnn µ.WwNMMi':r:::::�rvWwwwwwgrvWryYNF'WWN'9nNW' Nwrvyvy�M' Irv,NW mmmxxxx�ry All Other Village 73,559,292 - 73,559,292 Total All Funds 149,249,508 113750,000 150,624,508