HomeMy WebLinkAboutTab 1. 2010 Year-End Results
Village of Mount Prospect, Illinois
General Fund - Revenues and Expenditures
2010 End-of-Year Results - UNAUDITED
(a)(b)(c)(d)
Budget
2010Variance-
2009Amended2010Favorable
ActualBudgetActual(Unfavorable)Notes
Revenues:
Property Taxes10,738,76011,707,00011,719,52912,529
A
Sales Taxes - ROT Portion9,055,19410,200,00010,388,196188,196
Sales Taxes - HMR Portion1,036,0211,100,0001,120,67320,673
Food and Beverage Tax751,121788,000790,9652,965
Real Estate Transfer Tax405,300400,000379,942(20,058)
B
Telecommunications Tax2,810,3302,900,0002,838,953(61,047)
Other Utility Taxes1,708,8471,773,0001,750,267(22,733)
Other Taxes44,85847,00052,7375,737
Vehicle Licenses1,395,2041,405,0001,402,863(2,138)
Other Licenses, Permits, Fees2,102,7431,929,0001,881,096(47,904)
State Income Tax4,573,1624,445,0004,428,176(16,824)
C
Other Intergovernmental1,321,6241,307,1001,253,410(53,690)
Charges for Services1,583,9171,452,5001,437,282(15,218)
Fines and Forfeits541,512537,500569,83832,338
Investment Income64,95450,00043,539(6,461)
D
Other Revenue731,924751,500636,301(115,199)
Total Revenues38,865,47040,792,60040,693,767(98,833)
Expenditures
Public Representation477,772524,936469,07255,864
Village Manager's Office3,015,4312,538,7812,460,76078,021
Television Services Division193,273204,049189,27314,776
Village Clerk's Office208,123211,493204,4627,031
Finance Department1,564,3671,568,2131,577,667(9,454)
E
Community Development Dept.2,149,2012,274,6462,162,417112,229
Human Services Dept.1,004,6301,140,9691,085,32955,640
F
Police Department14,150,72014,708,16414,626,34181,823
G
Fire Department11,338,49211,659,07711,534,659124,418
H
Public Works Department6,424,1156,084,1025,934,359149,743
Miscellaneous45,59046,60045,724876
Total Expenditures40,571,71340,961,03040,290,063670,967
Excess of Revenues over Expend.I
(1,706,243)(168,430)403,704572,134
Other Financing Sources/Uses
Transfers In0000
J
Transfers Out(635,100)(861,000)(450,000)411,000
Total Other Financing Uses(635,100)(861,000)(450,000)411,000
Excess of Revenues over Expend.
and Other Financing Uses:K
(2,341,343)(1,029,430)(46,296)983,134
1 of 22010 End of Year Summary - GF.xlsx
Village of Mount Prospect, Illinois
General Fund - Revenues and Expenditures
2010 End-of-Year Results - UNAUDITED
Notes
AStateportionsalestaxessawalargeincreaseovertheprioryearduetoanimprovingeconomyand
a full years receipts from Wal Mart which had been closed for 7 months during 2009.
BGrowthinthetelecommunicationtaxhaslaggedbudgetprojectionssince2008.Averageannual
growthhasbeenlessthan1%whilethebudgetestimatesassumeda2%growthrate.Future
budget projections will assume the a 1% growth rate moving forward.
COtherintergovernmentalrevenues,primarilythestateusetax,wasimpactedbytheslowing
economy.Percapitaamountsfortheusetaxhavefallenfrom$14.44inFY2008/09to$11.00in
FY2010/11,adecreaseof23.8%.Wehavebeenfortunatemorerecentlytohaveoffsetthis
decrease somewhat with one-time grants.
DTheshortfallfrombudgetisduetolowerthanexpectedreimbursementandprogramrevenue
relatedtotheCommunityConnectionCenterandvariouscommunityprograms.Additionally,the
cancelationoftheWinterFestivalparaderesultedinalossof$30,000.Ofcourse,expenses
related to the event were also avoided.
ESavingsintheCommunityDevelopmentbudgetwereseenintheareasofPlanning/Zoning,Building
andEnvironmentalHealth.Spendinginoneparticularaccount,FirstTimeHomeownerscamein
wellbelowbudget($41,000).Savingsinotheraccountswereincrementalbuttogetherresultedin
actual spending coming in almost 5% under budget.
FAlthoughsavingsinthePolicebudgetisshowing$81,823,thisdoesn'taccountfortheamendment
toovertimeearningsinPatrolwherethislineitemwasreduced$250,000fromtheoriginalbudget.
Includingthisamount,totalsavingsinthePolicebudgetwas$331,823(2.3%).Savingswereseen
throughout the Police budget, particularly in Training.
GSavingsintheFirebudgetcameprimarilyfromtheFirePreventionandEmergencyPreparedness
Divisions.Operationovertimealsocameinunderbudgetforthefirsttimeinseveralyears.
Management of personnel and full staffing contributed to this savings.
HSpendinginthevariousContractualServicesaccountsbelowbudgetattributedtomuchofthe
savingsforthePublicWorksDepartment.Aportionofthesavings($32,586)forcontractualtree
and stump removal will be carried over into the 2011 budget.
ITheamendedoperatingbudgetfor2010showedadeficitof$168,430.Significantsavingsbyeach
ofthedepartmentstotaling$670,967resultedinasurplusinoperationsof$403,704.Thesurplus
was before accounting for any other financing sources/uses.
JThefinaltransferfromtheGeneralFundtosupportthePhaseIconstructionprojectswasbudgeted
at$861,000.Basedonprojectsavingsofover$250Kalongwithinterestearningsandgrant
monieswewereabletoreducethetransferto$450,000.Anadditional$411,000incharges
against the General Fund were avoided by managing the projects' cost.
KThetotalamendedbudgetfor2010showedadeficitof$1,029,430.Savingsintheoperating
budgetof$670,967alongwithfewerfundsneededtobetransferredforthePhaseIprojects
($411,000)returned$1,081,967totheGeneralFund.Nettedagainstaslightdecreaseinexpected
revenues ($98,833) resulted in lowering the year-end deficit in the General Fund to just $46,296.
2 of 22010 End of Year Summary - GF.xlsx