HomeMy WebLinkAboutTab 4: 2013 Revised Forecast BudgetVillage of Mount Prospect, Illinois
General Fund - Revenues and Expenditures
2013 Forecast
Notes
A
A
B
C
❑C
E
E
1 of 2 General Fund Forecast 2013 - Q1.xlsx
(a)
(b)
(c)
(d)
(e)
2012
2013 Forecast
Current
Original
Current
Increase
Percent
Projections
Forecast
Forecast
(Decrease)
Change
Revenues:
Property Taxes
12,206,500
12,781,500
12,781,500
0
0.00
Sales Taxes - ROT Portion
10,800,000
11,220,000
11,040,000
(180,000)
(1.60)
Sales Taxes - HMR Portion
1,190,000
1,250,000
1,205,000
(45,000)
(3.60)
Food and Beverage Tax
700,000
800,000
721,000
(79,000)
(9.88)
Real Estate Transfer Tax
375,000
400,000
400,000
0
0.00
Telecommunications Tax
2,875,000
2,475,000
2,875,000
400,000
16.16
Other Utility Taxes
1,750,000
1,821,000
1,821,000
0
0.00
Other Taxes
192,000
194,000
194,000
0
0.00
Vehicle Licenses
1,405,000
1,405,000
1,405,000
0
0.00
Other Licenses, Permits, Fees
1,719,000
1,743,000
1,743,000
0
0.00
State Income Tax
4,375,000
4,475,000
4,475,000
0
0.00
Other Intergovernmental
1,411,619
1,438,900
1,438,900
0
0.00
Charges for Services
1,518,125
1,532,120
1,532,120
0
0.00
Fines and Forfeits
507,000
507,000
507,000
0
0.00
Investment Income
25,000
25,000
25,000
0
0.00
Other Revenue
461,238
465,300
465,300
0
0.00
Total Revenues
41,510,482
42,532,820
42,628,820
96,000
0.23
Expenditures
Public Representation
566,260
560,462
560,462
0
0.00
Village Manager's Office
2,468,604
2,600,607
2,600,607
0
0.00
Television Services Division
168,334
173,884
173,884
0
0.00
Village Clerk's Office
146,997
149,761
149,761
0
0.00
Finance Department
1,494,533
1,614,108
1,614,108
0
0.00
Community Development Dept.
2,160,692
2,205,683
2,205,683
0
0.00
Human Services Dept.
1,012,542
1,032,412
1,032,412
0
0.00
Police Department
15,222,990
15,725,447
15,725,447
0
0.00
Fire Department
11,885,304
12,209,732
12,209,732
0
0.00
Public Works Department
6,555,630
7,115,246
7,115,246
0
0.00
Emergency Events
6,505
0
0
Miscellaneous
46,005
46,150
46,150
0
0.00
Total Expenditures
41,734,396
43,433,492
43,433,492
0
0.00
Excess of Revenues over Expend.
(223,914)
(900,672)
(804,672)
96,000
Other Financing Sources/Uses
Transfers In
0
0
0
0
Transfers Out
0
0
0
0
Total Other Financing Uses
0
0
0
0
Excess of Revenues over Expend.
and Other Financing Uses:
(223,914)
(900,672)
(804,672)
96,000
Notes
A
A
B
C
❑C
E
E
1 of 2 General Fund Forecast 2013 - Q1.xlsx
Village of Mount Prospect, Illinois
General Fund - Revenues and Expenditures
2013 Forecast
Notes
A Projection based on 2012 estimate. An adjustment was made to account for a full year's loss of revenue from
sales tax remitter that left the Village. 2.0% growth assumed.
B Projection based on 2012 estimate. 3.0% growth from prior year results in 9.88% decrease in the forecast
budget.
C Projection based on 2012 estimate. No additional growth in base is assumed.
D Typically annual savings from the annual budget range from 1 -2 %. To be conservative, no assumption were
made for the 2012 forecast. If the Village were to come in 1.0% below budget there would be a savings of
$434,335. The mid -year budget review is set for August where the 2012 forecast budget will again be reviewed.
E The total forecast deficit for 2013 is projected to decrease by $96,000 after considering the adjustments made to
the revenues. It is expected that this deficit would be eliminated through adjustments to existing revenues and
budget further reductions during the 2013 budget review process.
2 of 2 General Fund Forecast 2013 - Q1.xlsx