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Mount Prospect
INTEROFFICE MEMORANDUM
Village of Mount Prospect
Mount Prospect, Illinois
TO:
MICHAEL E. JANONIS, VILLAGE MANAGER
FROM:
FINANCE DIRECTOR
DATE:
APRIL 23, 2010
SUBJECT:
MATERIALS FOR APRIL 27,2010 FINANCIAL PLANNING WORKSHOP
The attached binder includes materials that will be discussed at the financial planning
workshop scheduled for April 27, 2010. The goal of the workshop is to provide for the
Village Board and Finance Commission an update of the Village's current fiscal condition
and material for preliminary planning of the 2011 budget.
Included in the binder is an end-of-year review for 2009, a 1 sl quarter review of 201 0 and a
revised forecast for 2011, all for the General Fund. In addition there are preliminary
summary tables for the 2011-2015 Capital Improvement Plan. The figures for the CIP are
placeholders containing raw data. Meetings with the departments to discuss funding and
priorities are not scheduled until mid May. Five-year financial forecasts are included for the
major operating and capital funds to show the long-term funding needs for each fund based
on expected revenue and expense growth and the impact resulting from the proposed
capital projects.
Also included in the binder are various scenarios for the 2010 property tax levy. These are
not intended to be all-inclusive as options for consideration for the levy, but only meant to be
used as a stepping-off point for discussion purposes.
The final two items in the binder are updates on significant legislation currently being
considered in Springfield and a memo on the impact state finances are having on the
Village budget, both now and into the future. Staff will be on hand to make a presentation
and facilitate discussion on all the attached materials.
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David O. Erb
Finance Director
DOE/
1:\Budget 2010\Quarterly and Mid-Year Review\Binder Cover Memo - 2010.doc
2009 Year-End Results
2010 First Quarter Review
2011 Revised Forecast Budget
2010 Property Tax Scenarios
Preliminary Capital Improvement Plan
and
Five-Year Forecast (2011-2015)
Current Status of
Significant Legislation
Other State Impacts
on the Village Budget
Notes