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Home My WebLink AboutOrd 6188 03/16/2015 Amendments to Budget Fiscal Year January '14 - December '14 ORDINANCE NO. 6188 AN ORDINANCE MAKING CERTAIN AMENDMENTS TO THE ANNUAL BUDGET ADOPTED FOR THE FISCAL YEAR COMMENCING JANUARY 1, 2014 AND ENDING DECEMBER 31, 2014 PASSED AND APPROVED BY THE MAYOR AND BOARD OF TRUSTEES the 16`h day of March, 2015 Published by authority of the corporate authorities of the Village of Mount Prospect, Illinois the 17`h day of March, 2015. ORDINANCE NO. 6188 AN ORDINANCE MAKING CERTAIN AMENDMENTS TO THE ANNUAL BUDGET ADOPTED FOR THE FISCAL YEAR COMMENCING JANUARY 1, 2014 AND ENDING DECEMBER 31, 2014 WHEREAS, the Mayor 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, 2014 and ending December 31, 2014 was adopted through the passage of Ordinance No. 6109 approved by the Corporate Authorities of the Village of Mount Prospect on December 17, 2013; and WHEREAS, the Mayor and Board of Trustees of the Village of Mount Prospect have passed and approved Ordinance No. 6130 on March 18, 2014, amending the annual budget for the fiscal year commencing January 1, 2014 and ending December 31, 2014; and WHEREAS, the Mayor and Board of Trustees of the Village of Mount Prospect have passed and approved Ordinance No. 6171 on December 16, 2014, amending the annual budget for the fiscal year commencing January 1, 2014 and ending December 31, 2014; and WHEREAS, the Mayor and Board 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, 2014 and ending December 31, 2014; and WHEREAS, the Mayor and Board of Trustees of the Village of Mount Prospect believe the changes, as specified on the attached January 1, 2014 through December 31, 2014 Budget Amendment No. 3 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 No. 3, attached hereto. NOW THEREFORE BE IT ORDAINED BY THE MAYOR AND BOARD OF TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS ACTING IN THE EXERCISE OF THEIR HOME RULE POWERS: SECTION ONE: That the fiscal year budget for January 1, 2014 through December 31, 2014 for the Village of Mount Prospect is hereby amended, as detailed on Budget Amendment No. 3 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: Hoefert, Korn, Matuszak, Polit, Rogers,Zadel NAYS: None ABSENT: None PASSED and APPROVED this 16`h day of March, 2015. Arlene A. Juracek r Mayor ATTEST L a Xngell Village Clerk VILLAGE OF MOUNT PROSPECT Budget Amendment No. 3 Fiscal Year January 1, 2014 through December 31, 2014 Fund/Account Number 001 General Fund 001.402.003 001.402.007 001.410.001 001.415.005 001.416.001 001.473.006 All other General Fund accounts Total General Fund Fund 002 Debt Service Fund 002.00.00.00.2.575.417.007 002.00.00.00.2.576.417.008 Revenues Current Budget Account Description Amount Increase (Decrease) Amended Budget Amount Food & Beverage Tax 725,000 85,000 810,000 Real Estate Trsfr Tax 875,000 80,000 955,000 Building Permit 550,000 40,000 590,000 State Use Tax 922,000 105,000 1,027,000 Pers Prop Repl Tax 365,000 40,000 405,000 Other Reimbursements 15,000 75,000 90,000 3,452,000 43,512,066 46,964,066 Series 2006 MPPL - Series 2011A - MPPL All other Debt Service Fund accounts Total Debt Service Fund Fund 040 Refuse Disposal Fund 040.479.005 Miscellaneous Income All other Refuse Disposal Fund accounts Total Refuse Disposal Fund Fund 042 Cmmty Development Block Grant Fund 042.418.002 Comm Dev Block Grant 042.420.016 Cook County 042.476.001 CDBG Program Income All other Cmmty Development Block Grant Fund accounts Total Cmmty Development Block Grant Fund Fund 048 Business District Fund 048.00.00.00.0.775.402.003 048.00.00.00.0.775.402.005 048.00.00.00.0.775.402.008 048.00.00.00.0.775.405.001 Food & Beverage Tax Hotel/Motel Tax Movie Theatre Tax Randhurst Business Dist All other Business District Fund accounts Total Business District Fund Fund Total Estimated Revenues Fund being changed All other Village Budget accounts Total Estimated Revenues After Changes 3,336,937 3,336,937 425,000 425,000 438,953 1,135„925 1,574,878 1,574,878 3,877,000 43,512,066 47,389,066 438,953 1,135,925 1,574,878 3,336„937 4,911,815 500 10„000 10,500 500 10,000 10,500 3,626,000 - 3,626,000 3,626,500 10,000 3,636,500 390,373 (348,923) 41,450 - 85,000 85,000 60,000 170,000 230,000 450„373 (93,923) 356,450 (93,923) 450„373 356,450 312,000 170,000 139,000 322,000 943,000 100 943,100 55, 320, 976 55,781,412 111,102, 388 63,000 50,000 (19,000) 13,000 107,000 107,000 2,022,955 375,000 220,000 120,000 335,000 1,050,000 100 1,050,100 57,343,931 55,781,412 2,022,955 113,125, 343 VILLAGE OF MOUNT PROSPECT Budget Amendment No. 3 Fiscal Year January 1, 2014 through December 31, 2014 Fund/Account Number 001 General Fund 001.70.01.00.0.000.513.003 001.70.71.00.0.000.503.001 All other General Fund accounts Total General Fund 002 Debt Service Fund 002.00.00.00.2.575.685.031 002.00.00.00.2.575.690.031 002.00.00.00.2.575.695.031 002.00.00.00.2.576.685.032 002.00.00.00.2.576.690.032 Expenditures Current 55,000 Amended Budget Increase Budget Account Description Amount (Decrease) Amount Retiree Sick Incentive 84,000 60,000 144,000 Overtime 505,000 25,000 530,000 589,000 85,000 674,000 46,722,714 - 46,722,714 47„311,714 85,000 47,396,714 2006 GO Bond Principal, Lib 2006 GO Bond Interest, Lib 2006 GO Bank Fee, Library 2011A GO Bond Principal, Lib 2011A GO Bond Interest, Lib All other Debt Service Fund accounts Total Debt Service Fund 020 Capital Improvement Fund 020.20.21.00.1.000.665.042 Telephone System - Vill Hall All other Capital Improvement Fund accounts Total Capital Improvement Fund 023 Street Improvement Const Fund 023.80.90.00.0.705.678.003 Resurfacing -SC Fund All other Street Improvement Const Fund accounts Total Street Improvement Const Fund 041 Motor Fuel Tax Fund 041.80.90.00.0.704.676.003 Traffic Signal Repl 041.80.90.00.0.705.678.002 Resurfacing - MFT Fund All other Motor Fuel Tax Fund accounts Total Motor Fuel Tax Fund 042 Cmmty Development Block Grant Fund 042.40.41.00.0.152.572.002 Pads & Hope Now 042.40.41.00.0.152.572.006 CEDA Emrgncy Housing 042.40.41.00.0.152.572.009 Northwest CASA 042.40.41.00.0.152.572.010 042.40.41.00.0.152.572.014 042.40.41.00.0.152.572.015 042.40.41.00.0.152.572.037 042.40.41.00.0.154.636.012 042.40.41.00.1.154.675.010 Wings Low Inc. Health Care Resources for Comm. Living Life Span Single Family Rehab Kensington Road Sidewalks All other Cmmty Development Block Grant Fund accounts Total Cmmty Development Block Grant Fund 2 - 55,000 55,000 - 383,453 383,453 - 500 500 - 1,085,000 1,085,000 - 50,925 50,925 - 1,574,878 1,574,878 3,328,500 - 3,328,500 3,328,500 1,574,878 4,903,378 4,900 50 14,000 14,000 - 14,000 14,000 2,080,847 - 2,080,847 2,080,847 14,000 2,094,847 9,705,280 (2,000,000) 7,705,280 9,705,280 (2,000,000) 7,705,280 350,600 - 350,600 10,055,880 (2,000,000) 8,055,880 130,000 (115,000) 15,000 688,000 (688,000) - 818,000 (803,000) 15,000 813,900 - 813,900 1,631,900 (803,000) 828,900 9,000 1,500 10,500 12,000 750 12,750 4,900 50 4,950 -- 2,500 2,500 4,000 500 4,500 6,400 (100) 6,300 - 1,250 1,250 233,921 (135,373) 98,548 20,000 35,000 55,000 290,221 (93,923) 196,298 160,152 - 160,152 450,373 (93,923) 356,450 VILLAGE OF MOUNT PROSPECT Budget Amendment No. 3 Fiscal Year January 1, 2014 through December 31, 2014 Expenditures Fund/Account Number Account Description 044 Federal Equitable Share Funds 044.60.61.65.0.451.665.031 Other Equipment All other Federal Equitable Share Funds accounts Total Federal Equitable Share Funds 046 Foreign Fire Tax Board Fund 046.70.71.00.0.301.665.021 Furniture & Equipment All other Foreign Tax Board Fund accounts Total Foreign Tax Board Fund 048 Business District Fund 048.00.00.00.0.775.691.002 Randhurst RDA Interest Pay All other Business District Fund accounts Total Business District Fund 070 Police Pension Fund 070.00.00.00.3.000.528.001 Retirement Pensions 070.00.00.00.3.000.528.003 Surv. Spouse Pensions All other Police Pension Fund accounts Total Police Pension Fund 071 Fire Pension Fund 071.00.00.00.3.000.528.001 Retirement Pensions 071.00.00.00.3.000.528.002 Disability Pensions All other Fire Pension Fund accounts Total Fire Pension Fund Total Village Budget Funds being changed All other Village Budget Accounts Total Village Budget after Changes KI Current Budget Amount Increase (Decrease) Amended Budget Amount 1,000 16,000 17,000 1,000 16,000 17,000 1 A000 a 1,000 2,000 16,000 18,000 15„000 30,000 45,000 15,000 30,000 45,000 15,500 - 15,500 30„500 30,000 60,500 923,100 126,900 1,050,000 923,100 126,900 1,050,000 923,100 126,900 1,050,000 3,414,767 10,000 3,424,767 316,573 5,000 321,573 3,731,340 15,000 3,746,340 556,476 - 556,476 4,287,816 15,000 4,302,816 3,244,149 20,000 3,264,149 588,828 10,000 598,828 3,832,977 30,000 3,862,977 469,784 - 469,784 4,302,761 30„000 4„332761 74,405,391 (1,005,145) 73,400,246 39,599,830 39,599,830 114,005,221 (1,005,145) 113,000,076