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Home My WebLink About5. New Business 12/01/2015NOTICE OF PROPOSED PROPERTY TAX LEVY FOR THE VILLAGE OF MOUNT PROSPECT I. A public hearing to approve a proposed property tax levy for the Village of Mount Prospect for the fiscal year beginning January 1, 2015 and ending December 31, 2015 will be held on December 1, 2015 at 7:00 p.m. at the Mount Prospect Village Board Room, 50 South Emerson Street, Mount Prospect, Illinois. Any person desiring to appear at the public hearing and present testimony to the taxing district may contact David O. Erb, Finance Director, 50 South Emerson Street, Mount Prospect, Illinois (847) 392-6000. II. The corporate and special purpose property taxes extended or abated for the fiscal year beginning January 1, 2014 and ended December 31, 2014 were $24,375,212. The proposed corporate and special purpose property taxes to be levied for the fiscal year beginning January 1, 2015 and ending December 31, 2015 are $25,150,222. This represents a 3.18% increase over the previous year. III. The property taxes extended for debt service for the fiscal year beginning January 1, 2014 and ended December 31, 2014 were $3,889,836. The estimated property taxes to be levied for debt service for the fiscal year beginning January 1, 2015 and ending December 31, 2015 are $4,013,209. This represents a 3.17% increase from the previous year. IV. The total property taxes extended or abated for the fiscal year beginning January 1, 2014 and ended December 31, 2014 were $28,265,048. The estimated total property taxes to be levied for the fiscal year beginning January 1, 2015 and ending December 31, 2015 are $29,163,431. This represents a 3.18% increase over the previous year. Dated this 23rd day of November 2015. /s/ M. Lisa Angell Village Clerk NOTICE OF PROPOSED PROPERTY TAX LEVY FOR THE VILLAGE OF MOUNT PROSPECT 1. A public hearing to approve a proposed properly tax levy for the Village of Mount Prospect for the fiscal year beginning January 1, 2015 and ending December 31, 2015 will be heldan December 1, 2015 at 7:00 p.m. at the Mount Proof "Village Board Room, 50 South Emerson Street, Mount Prospect Illinois, Any person desiring to appear at t1ha poblic hearing and present testimony to the taxing district may, contact David 0, Erb, Finance Director, 50 South Emerson:Street, Mount Prospect, Illinois (847) 392.6000, 11. The corporate and special purpose property taxes extended or abated for the fiscal year beginning January 1, 2014 and ended December 31, 2014 were $24,375,212. The proposed corporate and special purpose property taxes to be levied for the fiscal year beginning January 1, 2015 and ending`December 31, 2015 are $25,150,222. This represents a 3.18% increase over the previous year. 111. The property taxes extended for debt service for the fiscal year beginning January 1, 2014 and ended December 31 2014 we're $3;889,836. The estimated property taxes to be levied for debt service fo(the -ft ,l year beginning January 1, 2015 and ending December 31, 2615 are $4,013,269. This represents a 3.170�t increase from the previous year. 1V.'The total property taxes extended or abated for the fiscal. year beginning January 1, 2014 and ended December 31, 2014 were $28,265,048. The estimated total property taxesto be levied for the fiscal year beginning January 1, 2015 and ending December 31, 211-1,50 $9,163,431, This represents a 318% increase over tbe,previops year. Dated this 23rd day of November 2015. Is/ M. Lisa Angell Village Clerk MONDAY, NOVEMBER 23, 2015 `` lk Mount Prospc Village of Mount Prospect Mount Prospect, Illinois f INTEROFFICE MEMORANDUM TO: MICHAEL J. CASSADY, VILLAGE MANAGER FROM: FINANCE DIRECTOR DATE: NOVEMBER 20, 2015 SUBJECT: 2015 SPECIAL PURPOSE AND SPECIAL SERVICE AREA PROPERTY TAX LEVY AND ABATEMENT ORDINANCES PURPOSE: To obtain approval of the attached three ordinances related to the tax levies of the Village (special purpose and special service area levies), and the Mount Prospect Public Library. BACKGROUND: Prior to December 22, 2015 the Village must have on file with the County Clerk its 2015 tax levy ordinances. The Village will receive proceeds from the 2015 tax levy in 2016. The Village Board discussed the proposed 2015 tax levy multiple times during 2015, most recently at its October 27th Committee of the Whole meeting. Staff recommends a net Village tax levy of $18,312,756, an increase of 3.28% from the prior year. The Mount Prospect Library Board approved their tax levy request at its meeting on October 15, 2015. They are asking for a total levy, inclusive of a 2.0% provision for loss and cost, of $10,850,675. This represents an increase of 3.0% over the 2014 levy. The format of the levy for 2015 has been modified slightly in anticipation of changes included SB 318. While the likelihood of passage at this point is unknown and the effective date of changes impacting Mount Prospect isn't until 2017, staff felt it beneficial to reflect these anticipated changes beginning with the 2015 levy. Below is a summary of proposes legislative changes on the tax levy found in SB 318. SB 318 is currently before the Illinois Senate seeking to amend the Property Tax Extension Limitation Law of the Illinois Property Tax Code. This proposed legislation mandates that for taxing districts with a majority of EAV in Cook County, the aggregate extension for 2016 is limited to the lesser of 5% or the percentage increase in the Consumer Price Index during the 12 -month period prior to the levy or the rate of property tax levy increase approved by the voters in a referendum. During levy years 2017 and 2018, SB 318 includes for all home rule and non - home rule taxing districts in Cook County a 0% extension limitation or a rate of increase approved by the voters in a referendum. Also included in SB 318 are provisions that allow for certain debt service and public safety pension extensions along with "public safety purpose extensions" to fund municipal police and fire protection services to be exempt from the levy aggregate extension. SB 318 was assigned to the House Executive Committee on August 5, 2015 and no further action has been taken on the bill to date. 2015 Property Tax Levy November 20, 2015 Page 2 DISCUSSION: The following table compares the proposed 2015 levy to the 2014 levy for the Village and Library. The amounts presented in the table are net of abatements and inclusive of the 2% provision for loss and cost. The General portion of the levy for 2015 is being replaced with specific public safety extensions for police and fire protection purposes in anticipation of SB 318. Previously, these public safety levies were included in the General potion of the annual tax levy. The new levy format complies with provisions of SB 318 and provides additional transparencies as to what purpose property tax monies will be used. The Village's 2014 equalized assessed valuation (EAV) is $1,390,377,678. Our 2015 EAV is estimated to decrease approximately 1.6% from the prior year based on historical trends. The final 2015 EAV will not be available until summer 2016. The Village's 2015 tax rate is estimated at $1.339, compared to the 2014 rate of $1.276. The Library's 2015 tax rate is estimated at $0.793, compared to the 2014 rate of $0.758. For illustration purposes only, a home with an EAV of $95,386 (a market value of approximately $350,000) in 2014 will pay taxes of $1,141 to the Village of Mount Prospect and $678 to the Library for the levy extended in 2015. Assuming valuations do not change, the Village portion of the levy for a typical home will increase $37 while the increase in the Library levy is $20 from the levy extended in 2014. These amounts will vary based on eligible tax reductions for homeowner or senior exemptions or senior assessment freezes. Special Service Area No. 5 was created in the mid -eighties to help fund the delivery of Lake Michigan water to the Village's water system. It is recommended the 2015 levy remain the same as the 2014 levy ($1,545,773). The Village Board is being asked to consider three ordinances related to the 2015 tax levy. Two of the ordinances establish the initial levy of the Village (including the Library) and the Village's special service area. The third is an abatement ordinance that reduces a portion of the Series 2009C and Series 2013 debt service tax levies established by its bond ordinance. The abatement H:\ACCT\BUDGET\Budget 2016\December Agenda Items\Levy Ordinance Cover Memo to Board - 2015.docx 2014 Lew 2015 Lew $ Increase % Chanee Village General 10,064,897 - (10,064,897) -100.00% Police Protection - 5,032,448 5,032,448 N/A Fire Protection - 5,209,928 5,209,928 N/A Debt Service 2,290,114 2,307,215 17,101 0.75% Police Pension 2,882,852 3,194,500 311,648 10.81% Fire Pension 2,493,059 2,568,665 75,606 3.03% Total Village 17,730,922 18,312,756 581,834 3.28% Library Operations 8,934,404 9,144,681 210,277 2.35% Debt Service 1,599,722 1,705,994 106,272 6.64% Total Library 10,534,126 10,850,675 316,549 3.00% The General portion of the levy for 2015 is being replaced with specific public safety extensions for police and fire protection purposes in anticipation of SB 318. Previously, these public safety levies were included in the General potion of the annual tax levy. The new levy format complies with provisions of SB 318 and provides additional transparencies as to what purpose property tax monies will be used. The Village's 2014 equalized assessed valuation (EAV) is $1,390,377,678. Our 2015 EAV is estimated to decrease approximately 1.6% from the prior year based on historical trends. The final 2015 EAV will not be available until summer 2016. The Village's 2015 tax rate is estimated at $1.339, compared to the 2014 rate of $1.276. The Library's 2015 tax rate is estimated at $0.793, compared to the 2014 rate of $0.758. For illustration purposes only, a home with an EAV of $95,386 (a market value of approximately $350,000) in 2014 will pay taxes of $1,141 to the Village of Mount Prospect and $678 to the Library for the levy extended in 2015. Assuming valuations do not change, the Village portion of the levy for a typical home will increase $37 while the increase in the Library levy is $20 from the levy extended in 2014. These amounts will vary based on eligible tax reductions for homeowner or senior exemptions or senior assessment freezes. Special Service Area No. 5 was created in the mid -eighties to help fund the delivery of Lake Michigan water to the Village's water system. It is recommended the 2015 levy remain the same as the 2014 levy ($1,545,773). The Village Board is being asked to consider three ordinances related to the 2015 tax levy. Two of the ordinances establish the initial levy of the Village (including the Library) and the Village's special service area. The third is an abatement ordinance that reduces a portion of the Series 2009C and Series 2013 debt service tax levies established by its bond ordinance. The abatement H:\ACCT\BUDGET\Budget 2016\December Agenda Items\Levy Ordinance Cover Memo to Board - 2015.docx 2015 Property Tax Levy November 20, 2015 Page 3 of the Series 2009C levy is the result of issuing these bonds as Build America Bonds (BAB). The BAB's provide a federal subsidy of 35% of the interest paid on the bonds to the issuer which lowers the overall cost of borrowing. The BAB subsidy for 2015 is projected to be $41,200. Funds to abate the Series 2013 levy will come from the home rule sales tax dedicated to support flood control projects. RECOMMENDATION: It is recommended the Village Board approve the attached 2015 property tax levy ordinances. David O. Erb Finance Director H:\ACCT\BUDGET\Budget 2016\December Agenda Items\Levy Ordinance Cover Memo to Board - 2015.docx ORDINANCE NO. AN ORDINANCE AUTHORIZING THE LEVY AND COLLECTION OF TAXES FOR THE CORPORATE AND MUNICIPAL PURPOSES OF THE VILLAGE OF MOUNT PROSPECT FOR THE FISCAL YEAR BEGINNING JANUARY 1, 2015 AND ENDING DECEMBER 31, 2015 PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES the day of , 2015 Published in pamphlet form by authority of the corporate authorities of the Village of Mount Prospect, Illinois the day of , 2015. ORDINANCE NO. AN ORDINANCE AUTHORIZING THE LEVY AND COLLECTION OF TAXES FOR THE CORPORATE AND MUNICIPAL PURPOSES OF THE VILLAGE OF MOUNT PROSPECT FOR THE FISCAL YEAR BEGINNING JANUARY 1, 2015 AND ENDING DECEMBER 31, 2015 NOW, THEREFORE, BE IT ORDAINED BY THE President and Board of Trustees of the Village of Mount Prospect, Cook County, Illinois, as follows: Section 1: That the sum of Twenty -Eight Million Five Hundred Ninety -One Thousand Six Hundred Dollars ($28,591,600), the same being the total amount to be levied of budget appropriations heretofore made for the corporate and municipal purposes for the fiscal year beginning January 1, 2015 and ending December 31, 2015 as approved by the President and Board of Trustees of the Village of Mount Prospect, be and the same is hereby levied on all taxable property within the Village of Mount Prospect according to the valuation of said property as is, or shall be assessed or equalized by the State and County purposes for the current year 2015. Section 2: The budgetary appropriations having been made by the President and Board of Trustees of the Village of Mount Prospect were passed and approved by Ordinance No. 6170 at a meeting hereof regularly convened and held in said Village of Mount Prospect, Illinois, on the 16th day of December, 2014, and amended by Ordinance No. 6189 passed and approved on the 16th day of March, 2015 and further amended by Ordinance No. 6225 passed and approved on the 17th day of November, 2015 and thereafter duly published according to law, the various objects and purposes for said budgetary appropriations are heretofore made and set forth under the column entitled "Amount Budgeted", and the specific amount herein levied for each object and purpose is set forth under the column entitled "Amount Levied", in Articles I through VI. 1 Section 3: The sum of $395,000 is budgeted to be received from personal property replacement tax revenue during the fiscal year commencing January 1, 2015 and ending December 31, 2015 and has been included herein as funds to be derived from sources other than property taxes for general obligation bonds and interest, pensions, library services and general corporate purposes. Section 4: That the County Clerk is directed to add 2% to the requested tax levy as a provision for loss and cost. Section 5: That the Village Clerk of the Village of Mount Prospect is hereby directed to certify a copy of this Ordinance and is hereby authorized and directed to file a copy of the same with the County Clerk of Cook County, Illinois, within the time specified by law. Section 6: That, if any part or parts of this Ordinance shall be held to be unconstitutional or otherwise invalid, such constitutionality or invalidity, shall not affect the validity of the remaining parts of this Ordinance. The President and Board of Trustees of the Village of Mount Prospect hereby declares that they would have passed the remaining parts of the Ordinance of they had known that such parts or parts thereof would be declared unconstitutional or otherwise invalid. Section 7: That this Ordinance shall be in full force and effect from and after its passage, approval, publication in pamphlet form and recording, as provided by law. AYES: NAYES: ABSENT: PASSED and APPROVED this day of December, 2015. ATTEST: M. Lisa Angell, Village Clerk 7 Arlene A. Juracek, Mayor VILLAGE OF MOUNT PROSPECT, ILLINOIS 2015 TAX LEVY ARTICLE I -POLICE PROTECTION Amount Amount Budgeted Levied Personal Services 9,619,957 4,933,773 Employee Benefits 5,121,431 0 Other Employee Costs 163,316 0 Contractual Services 1,523,490 0 Utilities 36,886 0 Commodities & Supplies 122,423 0 Office Equipment 38,783 0 Other Equipment 11,158 0 Total Police Department 16,637,444 4,933,773 TOTAL BUDGET FOR POLICE PROTECTION 16,637,444 AMOUNT TO BE RAISED BY TAX LEVY 4,933,773 ADD 2% FOR LOSS & COST OF COLLECTION 98,675 TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR POLICE PROTECTION 5,032,448 ARTICLE II - FIRE PROTECTION Personal Services 7,692,293 5,107,773 Employee Benefits 4,169,521 0 Other Employee Costs 147,331 0 Contractual Services 1,029,824 0 Commodities & Supplies 38,615 0 Utilities 33,030 0 Building Improvements 10,200 0 Office Equipment 255 0 Other Equipment 113,390 0 Total Fire Department 13,234,459 5,107,773 TOTAL BUDGET FOR FIRE PROTECTION 13,234,459 AMOUNT TO BE RAISED BY TAX LEVY 5,107,773 ADD 2% FOR LOSS & COST OF COLLECTION 102,155 TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR FIRE PROTECTION 5,209,928 2 VILLAGE OF MOUNT PROSPECT, ILLINOIS 2015 TAX LEVY ARTICLE III - DEBT SERVICE FUND 00 Debt Service 00 00 510 G.O. Bonds - Series 2009 Bond Principal Interest Expense Bank and Fiscal Fees Total G.O. Bonds - Series 2009 00 00 511 G.O. Bonds - Series 2009B Bond Principal Interest Expense Bank and Fiscal Fees Total G.O. Bonds - Series 2009B 00 00 512 G.O. Bonds - Series 20090 Bond Principal Interest Expense Bank and Fiscal Fees Total G.O. Bonds - Series 20090 00 00 514 G.O. Bonds - Series 2011B Bond Principal Interest Expense Bank and Fiscal Fees Total G.O. Bonds - Series 2011B 00 00 515 G.O. Bonds - Series 2012 Bond Principal Interest Expense Bank and Fiscal Fees Total G.O. Bonds - Series 2012 00 00 516 G.O. Bonds - Series 2013 Bond Principal Interest Expense Bank and Fiscal Fees Total G.O. Bonds - Series 2012 00 00 517 G.O. Bonds - Series 2014 Bond Principal Interest Expense Bank and Fiscal Fees Total G.O. Bonds - Series 2012 3 Amount Amount Budgeted Levied 0 0 417,262 417,262 500 0 417,762 417,262 315,000 315,000 70,725 70,725 500 0 386,225 385,725 55,000 55,000 132,933 91,733 695,000 695,000 92,610 92,610 0 0 787,610 787,610 0 0 54,096 54,095 0 0 54,096 54,095 0 0 369,956 0 500 0 370,456 0 300,000 300,000 170,550 170,550 VILLAGE OF MOUNT PROSPECT, ILLINOIS 2015 TAX LEVY Amount Amount Budgeted Levied 00 00 650 IEPA Loans Loan Principal 183,840 0 Loan Expense 13,418 0 Bank and Fiscal Fees 0 0 Total IEPA Loans 197,258 0 00 00 659 Flood Installment Loan Loan Principal 415,000 0 Loan Expense 17,654 0 Total IEPA Loans 432,654 0 TOTAL BUDGET FOR DEBT SERVICE FUND 3,305,644 AMOUNT TO BE RAISED BY TAX LEVY 2,261,975 ADD 2% FOR LOSS & COST OF COLLECTION 45,240 TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR DEBT SERVICE FUND 2,307,215 ARTICLE IV - POLICE PENSION FUND 00 Police Pensions Pension Benefits 4,579,303 3,131,863 Contractual Services 154,100 0 Insurance 15,000 0 Commodities & Supplies 100 0 Other Expenditures 12,000 0 Total Police Pensions 4,760,503 3,131,863 TOTAL BUDGET FOR POLICE PENSION FUND 4,760,503 AMOUNT TO BE RAISED BY TAX LEVY 3,131,863 ADD 2% FOR LOSS & COST OF COLLECTION 62,637 TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR POLICE PENSION FUND 3,194,500 4 VILLAGE OF MOUNT PROSPECT, ILLINOIS ARTICLE V - FIREFIGHTERS' PENSION FUND 00 Fire Pensions 2015 TAX LEVY Pension Benefits Contractual Services Insurance Commodities & Supplies Other Expenditures Total Firefighters' Pensions TOTAL BUDGET FOR FIREFIGHTERS' PENSION FUND AMOUNT TO BE RAISED BY TAX LEVY ADD 2% FOR LOSS & COST OF COLLECTION TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR FIREFIGHTERS' PENSION FUND ARTICLE VI - MOUNT PROSPECT LIBRARY FUND 90 Mount Prospect Library Amount Amount Budgeted Levied 4,584,821 2,518,299 136,100 0 15,000 0 1,000 0 12,000 0 4,748,921 2,518,299 4,748,921 2,518,299 50,366 2,568,665 Library Expenditures 9,304,400 8,965,374 Bond Principal 1,280,000 1,280,000 Interest Expense 392,543 392,543 Total Library Services 10,976,943 10,637,917 TOTAL BUDGET FOR MOUNT PROSPECT LIBRARY FUND AMOUNT TO BE RAISED BY TAX LEVY - Library Expenditures AMOUNT TO BE RAISED BY TAX LEVY - Bond Principal and Interest ADD 2% FOR LOSS & COST OF COLLECTION TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR MOUNT PROSPECT LIBRARY FUND k, 10,976,943 8,965,374 1,672,543 212,758 10,850,675 Article VILLAGE OF MOUNT PROSPECT, ILLINOIS 2015 TAX LEVY SUMMARY Fund I Police Protection II Fire Protection III Debt Service IV Police Pension V Firefighters' Pension for Loss Village Totals VI Mount Prospect Library and Cost Library Services S 16,637,444 Library Debt Service 98,675 Library Totals 13,234,459 Village and Library Totals 9,304,400 Amount 179,307 Total 1,672,543 to be Raised Amount Tax Levy Amount by for Loss Incl. Loss Budgeted Tax Levy and Cost and Cost S 16,637,444 4,933,773 98,675 5,032,448 13,234,459 5,107,773 102,155 5,209,928 3,305,644 2,261,975 45,240 2,307,215 4,760,503 3,131,863 62,637 3,194,500 4,748,536 2,518,299 50,366 2,568,665 9,304,400 8,965,374 179,307 9,144,681 1,672,543 1,672,543 33,451 1,705,994 10,976,943 10,637,917 212,758 10,850,675 S 53,663,529 28,591,600 571,831 29,163,431 Cd ORDINANCE NO. AN ORDINANCE AUTHORIZING THE LEVY AND COLLECTION OF TAXES FOR THE MUNICIPAL PURPOSES OF SPECIAL SERVICE AREA NUMBER FIVE OF THE VILLAGE OF MOUNT PROSPECT FOR THE FISCAL YEAR BEGINNING JANUARY 1, 2015 AND ENDING DECEMBER 31, 2015 PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES the day of , 2015 Published in pamphlet form by authority of the corporate authorities of the Village of Mount Prospect, Illinois the — day of , 2015. ORDINANCE NO. AN ORDINANCE AUTHORIZING THE LEVY AND COLLECTION OF TAXES FOR THE MUNICIPAL PURPOSES OF SPECIAL SERVICE AREA NUMBER FIVE OF THE VILLAGE OF MOUNT PROSPECT FOR THE FISCAL YEAR BEGINNING JANUARY 1, 2015 AND ENDING DECEMBER 31, 2015 NOW THEREFORE, BE IT ORDAINED BY THE President and Board of Trustees of the Village of Mount Prospect, Cook County, Illinois: Section l: That the sum of One Million Five Hundred Fifteen Thousand Four Hundred Sixty -Four Dollars ($1,515,464), the same being the total amount to be levied of budget appropriations heretofore made for the municipal purposes for the fiscal year beginning January 1, 2015, and ending December 31, 2015, as approved by the President and Board of Trustees of the Village of Mount Prospect, be and the same is hereby levied on all taxable property within the Special Service Area Number 5 of the Village of Mount Prospect according to the valuation of said property as is, or shall be, assessed or equalized by State and County purposes for the current year 2015. The budgetary appropriations having been made by the President and Board of Trustees of the Village of Mount Prospect were passed and approved by Ordinance No. 6170 at a meeting hereof regularly convened and held in said Village of Mount Prospect, Illinois, on the 161' day of December, 2014, and amended by Ordinance No. 6189 passed and approved on the 161' day of March, 2015 and further amended by Ordinance No. 6225 passed and approved on the 17'h day of November, 2015, and thereafter duly published according to law, the various objects and purposes for said budgetary appropriations were heretofore made are set forth under the column entitled "Amount Budgeted," and the specific amount herein levied for each object and purpose is set forth under the column entitled "Amount Levied" in Article I. Section 2: That the County Clerk is directed to add 2% to the requested tax levy as a provision for loss and cost. Section 3: That the Village Clerk of the Village of Mount Prospect is hereby directed to certify a copy of this Ordinance and is hereby authorized and directed to file a copy of the same with the County Clerk of Cook County, Illinois, within the time specified by law. Section 4: That, if any part of this Ordinance shall be held to be unconstitutional or otherwise invalid, such unconstitutionality or invalidity, shall not affect the validity of the remaining parts of this Ordinance. The President and Board of Trustees of the Village of Mount Prospect hereby declares that they would have passed the remaining parts of the Ordinance if they had known that such part or parts thereof would be declared unconstitutional or otherwise invalid. Section 5: That this Ordinance shall be in full force and effect from and after its passage, approval, publication in pamphlet form and recording, as provided by law. AYES: NAYS: ABSENT: PASSED and APPROVED this day of , 2015 ATTEST: M. Lisa Angell, Village Clerk W Arlene A. Juracek, Mayor ARTICLE I - SPECIAL SERVICE AREA NO. 5 050 Lake Water Acquisition 570.001 SSA #5 JAWA Water 570.004 SSA #5 JAWA Fixed Costs TOTAL APPROPRIATED FOR SPECIAL SERVICE AREA NO. 5 LAKE WATER ACQUISITION AMOUNT TO BE RAISED BY TAX LEVY ADD 2% FOR LOSS AND COST OF COLLECTION TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR SPECIAL SERVICE AREA NO. 5 Article I - Special Service Area No. 5 �YILJ Qi F1:114 Amount Budgeted 5,487,000 Amount Amount Budgeted Levied 4,465, 000 1,197, 822 1,022,000 317,642 5,487,000 Amount to Amount for be Levied Loss & Cost 1,515,464 30,309 1,515,464 30,309 1,545,773 Total Tax Levy 1,545,773 ORDINANCE NO. AN ORDINANCE TO ABATE A PART OF THE TAXES LEVIED FOR CORPORATE AND MUNICIPAL PURPOSES OF THE VILLAGE OF MOUNT PROSPECT, ILLINOIS FOR THE FISCAL YEAR BEGINNING JANUARY 1, 2015 AND ENDING DECEMBER 31, 2015 PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES the day of , 2015 Published in pamphlet form by authority of the corporate authorities of the Village of Mount Prospect, Illinois, the day of , 2015. ORDINANCE NO. AN ORDINANCE TO ABATE A PART OF THE TAXES LEVIED FOR CORPORATE AND MUNICIPAL PURPOSES OF THE VILLAGE OF MOUNT PROSPECT, ILLINOIS FOR THE FISCAL YEAR BEGINNING JANUARY 1, 2015 AND ENDING DECEMBER 31, 2015 BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS: Section One: The President and Board of Trustees of the Village of Mount Prospect find as follows: A. That pursuant to Village Ordinance No. 5772 adopted December 1, 2009 authorizing the issuance of general obligation bonds for financing a portion of the costs of constructing a replacement fire station, emergency operations center and public works expansion there was levied for the year 2015 the sum of $187,932.50 for bond interest payments. B. That pursuant to Village Ordinance No. 6090 adopted August 20, 2013 authorizing the issuance of general obligation bonds for financing the construction of various flood control projects throughout the village there was levied for the year 2015 the sum of $369,956.26 for bond interest payments. Section Two: It is hereby declared by the President and Board of Trustees of the Village of Mount Prospect that the amount of $187,932.50 levied for G.O. Bond Interest payments for the purpose of funding a portion of the costs of constructing a replacement fire station, emergency operations center and public works expansion pursuant to Ordinance No. 5772 be and the same is hereby abated in the amount of $41,200 leaving a balance of $146,732.50 as that amount levied for such bond and interest payments for the fiscal year commencing January 1, 2015 and ending December 31, 2015. Section Three: It is hereby declared by the President and Board of Trustees of the Village of Mount Prospect that the amount of $369,956.26 levied for G.O. Bond Interest payments for the purpose of funding the construction of various flood control projects throughout the village pursuant to Ordinance No. 6090 be and the same is hereby abated in the amount of $369,956.26 being the entire amount levied for such bond and interest payment purposes for the fiscal year commencing January 1, 2015 and ending December 31, 2015. Section Four: Village Ordinance Nos. 5772 and 6090 are hereby amended with respect to the tax abatements declared herein and set forth in Sections Two and Three of this Ordinance. Section Five: The Village Clerk of the Village of Mount Prospect is hereby authorized and directed to file a certified copy of this Ordinance with the County Clerk of Cook County, Illinois within the time specified by law. 1 Section Six: This Ordinance shall be in full force and effect upon its passage, approval and publication in pamphlet form and filing as provided by law. AYES: NAYS: ABSENT: PASSED and APPROVED this day of , 2015. ATTEST: M. Lisa Angell, Village Clerk 2 Arlene A. Juracek, Mayor Mount Prospect Village of Mount Prospect Mount Prospect, Illinois ul? INTEROFFICE MEMORANDUM TO: MICHAEL J. CASSADY, VILLAGE MANAGER FROM: FINANCE DIRECTOR DATE: NOVEMBER 20, 2015 SUBJECT: PROPOSED 2016 BUDGET PURPOSE: To present for the Village Board's consideration an ordinance adopting the annual budget for the fiscal year beginning January 1, 2016 and ending December 31, 2016. BACKGROUND: The Village Manager's Office released the proposed budget on October 9, 2015. Over the past two months the Finance Commission met three times to review the document. The Village Board, meeting as a Committee of the Whole (COW), reviewed the document on October 27 and November 10. DISCUSSION: Departmental presentations on the 2016 budget were made before both the Finance Commission and Village Board with various staff on hand to facilitate discussion. The proposed budget incorporates all of the policies and directives established by the Mayor, Board of Trustees and Finance Commission during the August 2015 mid -year budget review and subsequent public meeting discussions. The General Fund budget, as presented, is balanced. The proposed budget provides for a 3.28% increase in the property tax levy and a 5.0% water rate increase. A public hearing on the proposed budget has been scheduled for December 15, 2015. Notice of the public hearing will be published in the Daily Herald on December 4, 2015. The ordinance included with this memo will officially adopt the budget for the Village of Mount Prospect. Once the ordinance is passed, the Finance Department will begin work on the final budget document. We hope to have the approved budget document produced no later than January 1, 2016. RECOMMENDATION: It is recommended the Village Board pass the accompanying ordinance adopting the 2016 annual budget. David O. Erb Finance Director DOE/ Attachment H:\ACCT\BUDGET\Budget 2016\Dec 1 Agenda Items\Ordinance Cover Memo - 2016 Budget.docx ORDINANCE NO. AN ORDINANCE ADOPTING AN ANNUAL BUDGET FOR THE VILLAGE OF MOUNT PROSPECT FOR THE FISCAL YEAR COMMENCING JANUARY 1, 2016 AND ENDING DECEMBER 31, 2016 IN LIEU OF PASSAGE OF AN APPROPRIATION ORDINANCE PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES the day of , 2015 Published in pamphlet form by authority of the corporate authorities of the Village of Mount Prospect, Illinois the _ day of , 2015. ORDINANCE NO. AN ORDINANCE ADOPTING AN ANNUAL BUDGET FOR THE VILLAGE OF MOUNT PROSPECT FOR THE FISCAL YEAR COMMENCING JANUARY 1, 2016 AND ENDING DECEMBER 31, 2016 IN LIEU OF PASSAGE OF AN APPROPRIATION ORDINANCE WHEREAS, the President and Board of Trustees of the Village of Mount Prospect in accordance with State Statutes, have provided for the preparation and adoption of an Annual Budget in lieu of passage of an Appropriation Ordinance; and WHEREAS, the tentative Annual Budget for the Village of Mount Prospect for the fiscal year beginning January 1, 2016 and ending December 31, 2016, as prepared by the Budget Officer for the Village and submitted to the President and Board of Trustees, was placed on file in the Office of the Village Clerk on October 9, 2015 for public inspection, as provided by Statute; and WHEREAS, pursuant to notice duly published on December 4, 2015, a public hearing was held by the President and Board of Trustees on said tentative annual budget on December 15, 2015, as provided by Statute; and WHEREAS, following said public hearing, said tentative Annual Budget was reviewed by the President and Board of Trustees and a copy of said tentative Annual Budget is attached hereto and hereby made a part hereof. NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS: SECTION ONE: The Annual Budget for the Village of Mount Prospect for the fiscal year beginning January 1, 2016 and ending December 31, 2016, a copy of which is attached hereto and made a part hereof, is hereby approved and adopted as the Annual Budget for the Village of Mount Prospect for said fiscal year. SECTION TWO: Within thirty (30) days following the adoption of this Ordinance there shall be filed with the County Clerk of Cook County a copy thereof duly certified by the Village Clerk and Estimate of Revenues by source anticipated to be received by the Village in the fiscal year beginning January 1, 2016 and ending December 31, 2016, duly certified by the Chief Fiscal Office SECTION THREE: This Ordinance shall be in full force and effect from and after its passage, approval and publication in pamphlet form in the manner provided by law. AYES: NAYS: ABSENT: PASSED AND APPROVED this day of )2015. ATTEST: M. Lisa Angell, Village Clerk Arlene A. Juracek, Mayor VILLAGE OF MOUNT PROSPECT 2016 BUDGET SUMMARY TOTAL VILLAGE BUDGET CHANGES IN FUND BALANCE Excess (Deficiency) of Revenues & Other Sources Over Expenditures 11,108,916 (19,672,940) (18,604,510) 2,509,706 5,893,936 FUND BALANCE Start of Budget Year 157,087,676 168,196,592 168,196,592 149,592,082 152,101,788 End of Budget Year 168,196,592 148,523,652 149,592,082 152,101,788 157,995,724 Less: Pension Fund Balances (b) (115,388,264) (116,866,440) (116,035,964) (122,183,097) (128,924,124) AVAILABLE FUND BALANCE 52,808,328 31,657,212 33,556,118 29,918,691 29,071,600 (a) Internal Services Budget includes Vehicle Maintenance Fund and Risk Management Fund. The Motor Equipment Replacement Fund and Computer Replacement Funds are included in the Village Capital Budget. (b) Pension Fund Balances are reserved for pension benefits and not available for appropriation. Actual Budget Estimate Budget Forecast 2014 2015 2015 2016 2017 REVENUES AND OTHER SOURCES Property Taxes 21,254,401 21,920,500 21,964,500 22,784,200 23,555,200 Other Taxes 13,997,392 14,276,074 14,259,508 14,198,368 14,443,592 Licenses, Permits & Fees 2,675,473 3,028,000 2,987,000 2,944,000 2,949,000 Intergovernmental Revenue 23,601,029 24,310,024 24,305,120 25,413,467 26,002,435 Charges for Services 26,689,706 28,536,345 28,592,772 30,766,533 31,904,365 Fines & Forfeits 862,465 664,250 667,063 656,100 661,100 Investment Income 7,963,877 4,117,118 3,296,570 8,485,500 8,888,500 Reimbursements 848,962 233,500 193,100 194,500 196,500 Other Revenue 9,338,012 9,220,500 9,085,400 9,609,840 10,129,577 Other Financing Sources 6,667,729 20,000 10,000 - - Total Revenues & Other Sources 113,899,046 106,326,311 105,361,033 115,052,508 118,730,269 BUDGET EXPENDITURES Village Operating Budget 63,191,997 65,301,052 65,521,511 68,199,660 69,961,056 Village Capital Budget 15,599,616 34,969,734 33,129,263 18,301,281 16,193,584 Debt Services Budget 4,902,306 4,847,652 4,847,652 4,978,187 5,037,578 Pension Systems Budget 8,633,471 9,555,880 9,473,056 9,780,823 10,037,016 Internal Services Budget (a) 9,448,304 10,303,933 9,938,961 10,185,751 10,456,999 Business District Fund 1,014,436 1,021,000 1,055,100 1,097,100 1,150,100 Total Expenditures 102,790,130 125,999,251 123,965,543 112,542,802 112,836,333 CHANGES IN FUND BALANCE Excess (Deficiency) of Revenues & Other Sources Over Expenditures 11,108,916 (19,672,940) (18,604,510) 2,509,706 5,893,936 FUND BALANCE Start of Budget Year 157,087,676 168,196,592 168,196,592 149,592,082 152,101,788 End of Budget Year 168,196,592 148,523,652 149,592,082 152,101,788 157,995,724 Less: Pension Fund Balances (b) (115,388,264) (116,866,440) (116,035,964) (122,183,097) (128,924,124) AVAILABLE FUND BALANCE 52,808,328 31,657,212 33,556,118 29,918,691 29,071,600 (a) Internal Services Budget includes Vehicle Maintenance Fund and Risk Management Fund. The Motor Equipment Replacement Fund and Computer Replacement Funds are included in the Village Capital Budget. (b) Pension Fund Balances are reserved for pension benefits and not available for appropriation. VILLAGE OF MOUNT PROSPECT 2016 BUDGET SUMMARY REVENUES AND OTHER SOURCES BY REVENUE TYPE 1��_1� 7��/�►D1�'L1►1�Z��:1� �'I�1�1 Z�1�'��:�k��Lt:'��Z�3��]-�li��I��-��l-i#-��F:��4:1~L�Z�1y�:�: CHANGES IN FUND BALANCE Actual Budget Estimate Budget Forecast Total Revenues & Other Sources 2014 2015 2015 2016 2017 REVENUES BY TYPE 102,790,130 125,999,251 123,965,543 112,542,802 112,836,333 Property Taxes 21,254,401 21,920,500 21,964,500 22,784,200 23,555,200 Other Taxes 13,997,392 14,276,074 14,259,508 14,198,368 14,443,592 Licenses, Permits & Fees 2,675,473 3,028,000 2,987,000 2,944,000 2,949,000 Intergovernmental Revenue 23,601,029 24,310,024 24,305,120 25,413,467 26,002,435 Charges For Services 26,689,706 28,536,345 28,592,772 30,766,533 31,904,365 Fines & Forfeits 862,465 664,250 667,063 656,100 661,100 Investment Income 7,963,877 4,117,118 3,296,570 8,485,500 8,888,500 Reimbursements 848,962 233,500 193,100 194,500 196,500 Other Revenue 9,338,012 9,220,500 9,085,400 9,609,840 10,129,577 Total Revenues 107,231,317 106,306,311 105,351,033 115,052,508 118,730,269 OTHER FINANCING SOURCES Bond Proceeds 6,584,697 - - - - Sale of Property/Other 83,032 20,000 10,000 - - Total Other Financing Sources 6,667,729 20,000 10,000 - 1��_1� 7��/�►D1�'L1►1�Z��:1� �'I�1�1 Z�1�'��:�k��Lt:'��Z�3��]-�li��I��-��l-i#-��F:��4:1~L�Z�1y�:�: CHANGES IN FUND BALANCE Total Revenues & Other Sources 113,899,046 106,326,311 105,361,033 115,052,508 118,730,269 Total Expenditures 102,790,130 125,999,251 123,965,543 112,542,802 112,836,333 Additions to(Use of) Fund Balances 11,108,916 (19,672,940) (18,604,510) 2,509,706 5,893,936 ANALYSIS OF CHANGES IN FUND BALANCE Additions to (Use of) Pension Fund Balances 6,295,875 1,478,176 647,700 6,147,133 6,741,027 Additions to (Use of) Other Fund Balances 4,813,041 (21,151,116) (19,252,210) (3,637,427) (847,091) Additions to(Use of) Fund Balances 11,108,916 (19,672,940) (18,604,510) 2,509,706 5,893,936 VILLAGE OF MOUNT PROSPECT 2016 BUDGET SUMMARY BUDGET EXPENDITURES HUMAN SERVICES DEPARTMENT 1,049,679 1,067,027 1,034,472 1,107,503 1,125,261 PUBLIC SAFETY AND PROTECTION Police Department 16,593,258 16,674,844 16,694,217 17,500,244 18,048,293 Fire Department 13,213,019 13,252,459 13,300,023 14,410,987 14,990,239 Total Public Safety and Protection 29,806,277 29,927,303 29,994,240 31,911,231 33,038,532 PUBLIC WORKS DEPARTMENT Actual 2014 Budget 2015 Estimate 2015 Budget 2016 Forecast 2017 OPERATING BUDGET 1,501,722 1,549,558 1,582,654 1,649,446 1,701,987 PUBLIC REPRESENTATION 563,535 636,934 656,313 699,374 709,302 VILLAGE ADMINISTRATION 3,092,320 3,703,112 3,709,544 3,668,430 3,620,718 FINANCE DEPARTMENT 2,007,008 1,990,478 1,995,361 2,035,030 2,046,287 COMMUNITY DEVELOPMENT DEPARTMENT 4,438,186 4,713,964 4,658,805 4,769,144 4,938,525 Community Development 2,242,247 2,426,828 2,446,706 2,426,654 2,478,206 CDBG 280,182 672,791 672,791 587,104 588,950 Total Community Development Dept 2,522,429 3,099,619 3,119,497 3,013,758 3,067,156 HUMAN SERVICES DEPARTMENT 1,049,679 1,067,027 1,034,472 1,107,503 1,125,261 PUBLIC SAFETY AND PROTECTION Police Department 16,593,258 16,674,844 16,694,217 17,500,244 18,048,293 Fire Department 13,213,019 13,252,459 13,300,023 14,410,987 14,990,239 Total Public Safety and Protection 29,806,277 29,927,303 29,994,240 31,911,231 33,038,532 PUBLIC WORKS DEPARTMENT Administration 1,501,722 1,549,558 1,582,654 1,649,446 1,701,987 Streets/Buildings 3,022,148 3,128,696 3,133,163 3,209,124 3,274,601 Forestry and Grounds 1,725,371 1,777,824 1,772,824 1,706,132 1,740,338 Engineering 1,377,885 1,448,152 1,445,979 1,479,280 1,510,415 Refuse Disposal 4,438,186 4,713,964 4,658,805 4,769,144 4,938,525 Water and Sewer Division 11,658,656 11,747,582 11,982,856 12,617,248 12,919,983 Parking 284,498 510,803 435,803 333,960 267,951 Total Public Works Department 24,008,466 24,876,579 25,012,084 25,764,334 26,353,800 EMERGENCY EVENTS 142,283 - - - - TOTAL OPERATING BUDGET 63,191,997 65,301,052 65,521,511 68,199,660 69,961,056 VILLAGE OF MOUNT PROSPECT 2016 BUDGET SUMMARY BUDGET EXPENDITURES Actual Budget Estimate Budget Forecast 2014 2015 2015 2016 2017 CAPITAL BUDGET Capital Improvement Plan 11,938,120 29,565,239 27,919,694 12,637,564 10,452,915 Other Capital Fund Expenditures 3,661,496 5,404,495 5,209,569 5,663,717 5,740,669 Total Capital Budget 15,599,616 34,969,734 33,129,263 18,301,281 16,193,584 DEBT SERVICE BUDGET 4,902,306 4,847,652 4,847,652 4,978,187 5,037,578 PENSION SYSTEMS BUDGET Miscellaneous Pensions 46,300 46,456 46,456 46,616 46,616 Police Pensions 4,280,027 4,760,503 4,678,800 4,833,176 4,959,200 Fire Pensions 4,307,144 4,748,921 4,747,800 4,901,031 5,031,200 Total Pension Systems Budget 8,633,471 9,555,880 9,473,056 9,780,823 10,037,016 INTERNAL SERVICES BUDGET (a) Vehicle Maintenance 2,053,195 2,234,037 2,121,961 2,134,037 2,177,133 Risk Management 7,395,109 8,069,896 7,817,000 8,051,714 8,279,866 Total Internal Services Budget (a) 9,448,304 10,303,933 9,938,961 10,185,751 10,456,999 BUSINESS DISTRICT FUND 1,014,436 1,021,000 1,055,100 1,097,100 1,150,100 TOTAL EXPENDITURES 102,790,130 125,999,251 123,965,543 112,542,802 112,836,333 (a) Internal Services Budget includes Vehicle Maintenance Fund and Risk Management Fund. The Motor Equipment Replacement Fund and Computer Replacement Funds are included in the Village Capital Budget. VILLAGE OF MOUNT PROSPECT 2016 BUDGET SUMMARY REVENUES AND OTHER SOURCES BY FUND Actual Budget Estimate Budget Forecast 2014 2015 2015 2016 2017 GENERAL FUND 47,287,888 48,802,811 48,720,800 49,658,220 50,910,370 DEBT SERVICE FUND 4,912,449 4,854,237 4,854,237 4,987,011 5,050,457 CAPITAL PROJECTS FUNDS Capital Improvement Fund 1,395,372 1,343,000 1,374,350 1,415,500 1,443,500 Downtown Redevelopment Construct 2,564,475 2,709,500 2,844,250 2,998,500 3,170,500 Street Improvement Construc Fund 9,884,562 3,651,100 3,593,200 3,761,500 3,789,500 Flood Control Construction Fund 311,114 388,100 434,000 447,000 474,000 Total Capital Projects Funds 14,155,523 8,091,700 8,245,800 8,622,500 8,877,500 SPECIAL REVENUE FUNDS Refuse Disposal Fund 3,646,133 3,946,000 3,957,700 4,600,000 4,831,680 Motor Fuel Tax Fund 1,849,721 1,331,200 1,237,200 1,237,500 1,237,500 CDBG 280,182 672,791 672,791 587,104 588,950 Asset Seizure Fund 49,054 2,100 15,020 15,100 15,100 Federal Equitable Share Funds 24,657 200 120 200 200 DUI Fine Fund 38,559 20,100 25,030 20,100 20,100 Foreign Fire Tax Board Fund 67,681 70,100 70,070 70,100 70,100 Business District Fund 1,014,353 1,021,000 1,055,100 1,097,100 1,150,100 Total Special Revenue Funds 6,970,340 7,063,491 7,033,031 7,627,204 7,913,730 ENTERPRISE FUNDS Water and Sewer Fund 13,933,447 14,364,600 14,107,700 15,669,600 16,224,600 Village Parking System Fund 145,464 130,700 138,700 168,700 183,700 Parking System Revenue Fund 210,107 219,000 221,000 146,000 161,000 Total Enterprise Funds 14,289,018 14,714,300 14,467,400 15,984,300 16,569,300 INTERNAL SERVICE FUNDS Vehicle Maintenance Fund 2,139,393 2,158,489 2,159,489 2,044,649 2,177,133 Vehicle Replacement Fund 1,434,348 1,398,850 1,402,393 1,608,200 1,608,200 Computer Replacement Fund 23,825 273,307 272,807 254,550 256,285 Risk Management Fund 7,803,216 7,981,526 8,130,776 8,384,534 8,635,867 Total Internal Service Funds 11,400,782 11,812,172 11,965,465 12,291,933 12,677,485 FIDUCIARY FUNDS Police Pension Fund 7,723,976 5,950,975 5,528,175 8,266,000 8,703,000 Fire Pension Fund 7,159,070 5,036,625 4,546,125 7,615,340 8,028,427 Total Fiduciary Funds 14,883,046 10,987,600 10,074,300 15,881,340 16,731,427 TOTAL REVENUES & OTHER SOURCES 113,899,046 106,326,311 105,361,033 115,052,508 118,730,269 VILLAGE OF MOUNT PROSPECT 2016 BUDGET SUMMARY EXPENDITURES BY FUND TOTAL EXPENDITURES 102,790,130 125,999,251 123,965,543 112,542,802 112,836,333 Actual Budget Estimate Budget Forecast 2014 2015 2015 2016 2017 GENERAL FUND 46,320,858 47,640,383 47,728,533 49,658,220 50,867,669 DEBT SERVICE FUND 4,902,306 4,847,652 4,847,652 4,978,187 5,037,578 CAPITAL PROJECTS FUNDS Capital Improvement Fund 718,353 3,364,416 3,000,051 2,581,000 1,477,150 Downtown Redevelopment Construct 2,978,005 4,562,130 4,227,729 3,387,271 3,225,574 Street Improvement Construc Fund 7,822,794 6,863,886 6,863,886 3,631,000 3,588,500 Flood Control Construction Fund 556,308 10,672,951 10,772,951 839,546 536,535 Total Capital Projects Funds 12,075,460 25,463,383 24,864,617 10,438,817 8,827,759 SPECIAL REVENUE FUNDS Refuse Disposal Fund 4,438,444 4,718,706 4,663,547 4,769,144 4,953,525 Motor Fuel Tax Fund 791,218 2,156,955 1,556,955 2,111,834 1,530,071 CDBG 280,182 672,791 672,791 587,104 588,950 Asset Seizure Fund 8,039 19,000 6,500 7,000 7,000 Federal Equitable Share Funds 16,233 2,000 2,000 2,000 2,000 DUI Fine Fund 2,767 22,000 22,000 2,000 2,000 Foreign Fire Tax Board Fund 53,049 30,500 60,500 50,500 50,500 Business District Fund 1,014,436 1,021,000 1,055,100 1,097,100 1,150,100 Total Special Revenue Funds 6,604,368 8,642,952 8,039,393 8,626,682 8,284,146 ENTERPRISE FUNDS Water and Sewer Fund 13,779,500 17,408,935 17,281,984 15,835,178 15,940,983 Village Parking System Fund 175,219 310,160 310,160 257,796 667,249 Parking System Revenue Fund 154,770 250,643 175,643 226,164 157,890 Total Enterprise Funds 14,109,489 17,969,738 17,767,787 16,319,138 16,766,122 INTERNAL SERVICE FUNDS Vehicle Maintenance Fund 2,053,195 2,234,037 2,121,961 2,134,037 2,177,133 Vehicle Replacement Fund 581,073 1,182,406 1,147,000 2,327,000 2,354,000 Computer Replacement Fund 155,413 429,380 200,000 264,800 241,660 Risk Management Fund 7,400,797 8,079,896 7,822,000 8,061,714 8,289,866 Total Internal Service Funds 10,190,478 11,925,719 11,290,961 12,787,551 13,062,659 FIDUCIARY FUNDS Police Pension Fund 4,280,027 4,760,503 4,678,800 4,833,176 4,959,200 Fire Pension Fund 4,307,144 4,748,921 4,747,800 4,901,031 5,031,200 Total Fiduciary Funds 8,587,171 9,509,424 9,426,600 9,734,207 9,990,400 TOTAL EXPENDITURES 102,790,130 125,999,251 123,965,543 112,542,802 112,836,333 VILLAGE OF MOUNT PROSPECT 2016 BUDGET SUMMARY AVAILABLE FUND BALANCES/NET ASSETS 12/31/2016 ENTERPRISE FUNDS (a) Water and Sewer Fund Estimated 2016 2016 Estimated Recommended Village Parking System Fund Balance Budget Budget Balance Balance Parking System Revenue Fund 1/1/2016 Revenues Expenditures 12/31/2016 12/31/2016 GENERAL FUND 13,500,724 49,658,220 49,658,220 13,500,724 10,173,534 DEBT SERVICE FUND 136,663 4,987,011 4,978,187 145,487 950,607 CAPITAL PROJECTS FUNDS Capital Improvement Fund 1,145,377 1,415,500 2,581,000 (20,123) 523,013 Downtown Redevelopment Construct (728,075) 2,998,500 3,387,271 (1,116,846) 40,000 Street Improvement Construc Fund (341,966) 3,761,500 3,631,000 (211,466) 1,000,000 Flood Control Construction Fund 1,088,173 447,000 839,546 695,627 176,250 Total Capital Projects Funds 1,163,509 8,622,500 10,438,817 (652,808) 1,739,263 SPECIAL REVENUE FUNDS Refuse Disposal Fund 810,344 4,600,000 4,769,144 641,200 495,353 Motor Fuel Tax Fund 1,077,610 1,237,500 2,111,834 203,276 153,007 CDBG - 587,104 587,104 - - Asset Seizure Fund 92,195 15,100 7,000 100,295 7,000 Federal Equitable Share Funds 18,058 200 2,000 16,258 2,000 DUI Fine Fund 104,110 20,100 2,000 122,210 2,000 Foreign Fire Tax Board Fund 292,344 70,100 50,500 311,944 5,050 Business District Fund - 1,097,100 1,097,100 - - Total Special Revenue Funds 2,394,661 7,627,204 8,626,682 1,395,183 664,410 ENTERPRISE FUNDS (a) Water and Sewer Fund 4,443,507 15,669,600 15,835,178 4,277,929 3,229,996 Village Parking System Fund 92,865 168,700 257,796 3,769 27,515 Parking System Revenue Fund (101,908) 146,000 226,164 (182,072) 39,473 Total Enterprise Funds 4,434,464 15,984,300 16,319,138 4,099,626 3,296,984 INTERNAL SERVICE FUNDS (a) Vehicle Maintenance Fund 684,720 2,044,649 2,134,037 595,332 217,713 Vehicle Replacement Fund 8,146,311 1,608,200 2,327,000 7,427,511 7,427,511 Computer Replacement Fund 441,499 254,550 264,800 431,249 431,249 Risk Management Fund 2,653,567 8,384,534 8,061,714 2,976,387 1,322,129 Total Internal Service Funds 11,926,097 12,291,933 12,787,551 11,430,479 9,398,602 FIDUCIARY FUNDS (b) Police Pension Fund 59,669,300 8,266,000 4,833,176 63,102,124 110,572,714 Fire Pension Fund 56,366,664 7,615,340 4,901,031 59,080,973 96,521,956 Total Fiduciary Funds 116,035,964 15,881,340 9,734,207 122,183,097 207,094,670 Total - Village Funds 149,592,082 115,052,508 112,542,802 152,101,788 233,318,070 Less: Fiduciary Funds (b) (116,035,964) (15,881,340) (9,734,207) (122,183,097) (207,094,670) TOTAL AVAILABLE BALANCES 33,556,118 99,171,168 102,808,595 29,918,691 26,223,400 (a) Estimated balances reflect unrestricted net assets only. (b) Fiduciary Funds are restricted for future pension benefits and do not constitute "Available Fund Balances." RESOLUTION NO. A RESOLUTION SETTING A PUBLIC HEARING FOR AN ANNEXATION AGREEMENT WITH THE ILLINOIS STATE TOLL HIGHWAY AUTHORITY Preamble WHEREAS, the President and Board of Trustees of the Village of Mount Prospect intend to consider, for execution, an Annexation Agreement with the Illinois State Toll Highway Authority for the annexation of the following legally described property: THE NORTHEASTERLY 44.50 FEET (MEASURED AT RIGHT ANGLES) OF THE ILLINOIS TOLL HIGHWAY (1-90) RIGHT OF WAY BOUNDED ON THE WEST BY THE SOUTHERLY PROLONGATION OF THE WEST LINE OF LAKE BRIARWOOD UNIT NO.2 RECORDED JANUARY 27, 1961 AS DOCUMENT NO. 18072302 AND BOUNDED ON THE EAST BY THE SOUTHERLY PROLONGATION OF THE EAST LINE OF THE COMMONWEALTH EDISON RIGHT OF WAY, AS ANNEXED TO THE VILLAGE OF MOUNT PROSPECT AUGUST 1, 1963 PER DOCUMENT NO. 18871122, ALL IN THE WEST HALF OF SECTION 22, TOWNSHIP 41 NORTH, RANGE 11 EAST OF THE THIRD PRINCIPAL MERIDIAN, IN COOK COUNTY, ILLINOIS. WHEREAS, pursuant to the Illinois Municipal Code at 65 ILCS 5/11-15.1-1 et. seq., a public hearing must be held on the contents of the Annexation Agreement prior to its adoption; NOW THEREFORE, BE IT RESOLVED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE MOUNT PROSPECT, COOK COUNTY, ILLINOIS, ACTING PURSUANT TO ITS HOME RULE POWER, RESOLVES AS FOLLOWS: SECTION 1: That a duly noticed public hearing shall be held on December 15, 2015 at 7:00 p.m. in the Board Room at the Village Hall at 50 S. Emerson, Mount Prospect, Illinois 60056 to receive comment on the proposed Annexation Agreement. SECTION 2: A copy of the proposed Annexation Agreement shall be available on the Website of the Village of Mount Prospect and a copy shall be made available, prior to the public hearing at the office of the Mount Prospect Village Clerk. SECTION 3: That this Resolution shall be in full force and effect from and after its passage and approval in the manner provided by law. 356077_1 AYES- YES: NAYS- NAYS: ABSENT- ABSENT: PASSED PASSED and APPROVED this day of '2015. Arlene Juracek Village Mayor ATTEST: M. Lisa Angell Village Clerk 356077_1 Prospect Mount Prospect Public Works Department INTEROFFICE MEMORANDUM TO: VILLAGE MANAGER MICHAEL CASSADY FROM: TRAFFIC ENGINEER DATE: NOVEMBER 20, 2015 SUBJECT: MFT MAINTENANCE RESOLUTION Attached is a Resolution for Maintenance of Streets and Highways by Municipality Under the Illinois Highway Code (BLR 14230) in the amount of $911,834.00. Included in this resolution are the following: Account No. 041.80.83.86.0.357.577.002 041.80.81.81.0.354.624.009 041.80.81.81.0.354.575.011 041.80.83.86.0.357.588.001 041.80.81.81.0.354.575.002 041.80.81.81.0.354.575.004 Item Budget Traffic Signal Maintenance $92,187.00 Salt & Calcium Chloride $462,273.00 Snow Removal $78,030.00 Electricity $159,181.00 Crack Filling $55,658.00 Pavement Markings $64,505.00 TOTAL $911,834.00 This Resolution is required by the Illinois Department of Transportation before the Village can expend Motor Fuel Tax funds in 2016. It is staff's recommendation that the Village Board of Trustees adopt this resolution. Please include this item on the December 1" Village Board Meeting Agenda. I concur with the above Sean P. Do mmeouation. of Public Works Matthew . awrie Attachment: Resolution h:\engineering\traffic\signals\2016maintena nce\vb_mft_memo.docx a Illinois Qe tlYlP_nt Resolution for Maintenance of p Streets and Highways by Municipality of Transportation Under the Illinois Highway Code BE IT RESOLVED, by the Mayor and Board of Trustees of the (Council or President and Board of Trustees) Village of Mount Prospect Illinois, that there is hereby (City, Town or Village) (Name) appropriated the sum of $911,834.00 of Motor Fuel Tax funds for the purpose of maintaining streets and highways under the applicable provisions of the Illinois Highway Code from January 1, 2016 (Date) to December 31, 2016 (Date) BE IT FURTHER RESOLVED, that only those streets, highways, and operations as listed and described on the approved Municipal Estimate of Maintenance Costs, including supplemental or revised estimates approved in connection with this resolution, are eligible for maintenance with Motor Fuel Tax funds during the period as specified above. BE IT FURTHER RESOLVED, that the Clerk shall, as soon a practicable after the close of the period as given above, submit to the Department of Transportation, on forms furnished by said Department, a certified statement showing expenditures from and balances remaining in the account(s) for this period; and BE IT FURTHER RESOLVED, that the Clerk shall immediately transmit two certified copies of this resolution to the district office of the Department of Transportation, at Schaumburg Illinois. I, M. Lisa Angell Clerk in and for the of Mount Prospect , County of Village (City, Town or Village) Cook hereby certify the foregoing to be a true, perfect and complete copy of a resolution adopted by the Mayor and Board of Trustees at a meeting on December 1, 2015 (Council or President and Board of Trustees) IN TESTIMONY WHEREOF, I have hereunto set my hand and seal this (SEAL) Approved Date day of Village Clerk (City, Town or Village) Regional Engineer Department of Transportation Date BLR 14230 (Rev. 07/15/13) Illinois Department of Transportation Municipal Estimate of Maintenance Costs Muncipality: Mount Prospect Maintenance Period January 1, 2016 to December 31, 2016 Section Number: 16 - 00000 - 01 - GM Estimated Cost of Maintenance Operations Maintenance Operation No. Descri tion Maint. Grou Insp. Re . For Group I, IIA, IIB, or III Est Total Operation Cost Item Unit Quantit Unit Price Item Cost Traffic Signal Maintenance 2B Routine Traffic Signal Maintenance LS 1 $19,995.00 $19,995.00 2B Non -Routine Traffic Signal Maintenance LS 1 $14,005.00 $14,005.00 2B Emergency Traffic Signal Maintenance LS 1 $11,687.00 $11,687.00 1 Village Share IDOTICounty Intersections LS 1 $46,500.00 $46,500.00 $92,187.00 Snow & Ice Control 1 Salt Ton 5400 $60.61 $327,294.00 1 Geomelt / Calcium Chloride Gal 170,859 $0.79 $134,979.00 2B Snow Removal LS 1 $78,030.00 $78,030.00 $540,303.00 Electricity 1 LS 1 $159,181.00 $159,181.00 $159,181.00 Pavement Maintenance 2B Crack Seal Pavement Lbs 46,771 $1.19 $55,658.00 $55,658.00 Pavement Markings 2B 4" Line - Truck Installed LF 86,000 $0.10 $8,600.00 4" Line - Hand Installed LF 23,460 $0.33 $7,742.00 6" Line LF 19,430 $0.80 $15,544.00 12" Line LF 11,220 $1.27 $14,249.00 24" Line LF 1836 $1.65 $3,029.00 Letters & Symbols SF 4631 $2.50 $11,577.00 Removal SF 1224 $0.53 $649.00 Replace Reflector Lens EA 21 $15.00 $315.00 Replace Reflector Unit EA 40 $70.00 $2,800.00 $64,505.00 Total Estimated Maintenance Operation Cost $911,834.00 Preliminary Engineering Engineering Inspection Material Testing Advertising Bride Inspections Total Estimated Maintenance Engineering Cost $0.00 Total Esimated Maintennace Cost $911,834.00 Submitted: Approved: Village Engineer Municipal Offical Title Date Regional Engineer Date BLR 14231 (Rev. 07/16/13) RESOLUTION NO. A RESOLUTION AUTHORIZING PAYMENT TO THE MOUNT PROSPECT PUBLIC LIBRARY UNDER THE TERMS OF A GROUND LEASE AGREEMENT WHEREAS, on November 6, 2002, the Village of Mount Prospect ("the Village") and the Mount Prospect Public Library ("the Library") entered into a Ground Lease Agreement (the "Lease") providing, among other things, for the Village to lease certain property ("Property") from the Library; and WHEREAS, the Village has caused its attorney and staff to review the terms of the Lease and the current status of the Property and its usage; and WHEREAS, the attorney and staff have reported that both the Village and the Library are in substantial compliance with all material terms of the Lease; and WHEREAS, the Mayor and Board of Trustees have determined that it is in the best interests of the Village and its residents to assure that there is continued compliance with the Lease. NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND BOARD OF TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS: SECTION ONE: That the parties are in substantial compliance with all material terms of the Lease. SECTION TWO: That the Mayor and Board of Trustees authorize the Village Director of Finance to pay the Library such sums as are due pursuant to the Lease. SECTION THREE: That this Resolution shall be in full force and effect from and after its passage and approval in the manner provided by law. AYES: NAYS: ABSENT: PASSED and APPROVED this day of December 2015 Arlene A. Juracek Mayor ATTEST: M. Lisa Angell Village Clerk H:\CLKO\WWRESOLUTIOWLease pymt, Library & VOMP,parking2015.doc RESOLUTION NO. A RESOLUTION AUTHORIZING THE EXECUTION OF AN AGREEMENT BETWEEN THE FOREST RIVER FIRE PROTECTION DISTRICT AND THE VILLAGE OF MOUNT PROSPECT WHEREAS, the Village of Mount Prospect and the Forest River Fire Protection District are desirous of entering into an Intergovernmental Agreement; and WHEREAS, the Intergovernmental Agreement being the subject of this Resolution provides for the Village of Mount Prospect to provide for the fire protection, fire prevention and emergency medical services for that area known as the Forest River Fire Protection District. NOW, THEREFORE, BE IT RESOLVED 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: The Board of Trustees of the Village of Mount Prospect do hereby authorize the Mayor to sign and the Clerk to attest his signature on the Intergovernmental Agreement between the Forest River Fire Protection District and the Village of Mount Prospect for the year 2016, a copy of which is attached hereto and hereby made a part hereof as Exhibit "A". SECTION TWO: That this Resolution shall be in full force and effect from and after its passage and approval in the manner provided by law. AYES: NAYS: ABSENT: PASSED and APPROVED this day of December, 2015. Arlene A. Juracek Mayor ATTEST: M. Lisa Angell Village Clerk H:\CLKO\WIN\RESOLUTION\ForestRvrAgrmt, 2016doc FOREST RIVER FIRE PROTECTION DISTRICT 207 LEE STREET MOUNT PROSPECT, ILLINOIS 60056 RESOLUTION NUMBER 2015 — 02 Pagel of 2 November 3, 2015 Resolution Authorizing Execution of an Agreement With the Village of Mount Prospect WHEREAS, the Forest River Fire Protection District has requested the Village of Mount Prospect to provide services of the Fire Department of the Village to said District during the year 2016; and WHEREAS, the President and the Board of Trustees of the Forest River Fire Protection District have determined that it would be in the best interests of the District and the Village to enter into an Agreement with the terms and conditions set forth in Exhibit " A " attached hereto providing that the Mount Prospect Fire Department service said District. NOW, THEREFORE, be it resolved by the President and the Board of Trustees of the Forest River Fire Protection District, Cook County, Illinois: The President of the Forest River Fire Protection District is hereby authorized to execute, and the Secretary to attest, the Agreement between the Village of Mount Prospect and the Forest River Fire Protection District, a copy of which is attached hereto as Exhibit " A. " 2. That this resolution shall be in full force and effect from and after its passage and approval in the manner provided by law. FOREST RIVER FIRE PROTECTION DISTRICT 207 LEE STREET MOUNT PROSPECT, ILLINOIS 60056 RESOLUTION NUMBER 2015 — 02 Page2 of 2 AYES: 3 NAYS; 0 ABSENT: 0 Passed and approved this 3rd day of November, 2015 ATTEST: Paul Simon, President 4�� Adam Bac ski, Secretary FOREST RIVER FIRE PROTECTION DISTRICT A MUNICIPAL CORPORATION, COOK COUNTY, ILLINOIS, HERETO AND THE VILLAGE OF MOUNT PROSPECT A MUNICIPAL CORPORATION, COOK COUNTY, ILLINOIS, HERETO AGREEMENT WHEREAS, THE Village of Mount Prospect, hereinafter, referred to as "The Village", a municipal corporation organized under the laws of the State of Illinois and the Forest River Fire Protection District, hereinafter referred to as the "District", a municipal corporation organized under the laws of the State of Illinois, and WHEREAS, both the Village and the District are municipal corporations organized under the laws of the State of Illinois and as such have the power under State Law to enter into agreements for providing fire protection and emergency services, and WHEREAS, THE Village has agreed to provide such services to. the District in accordance with the terms hereinafter set forth. NOW THEREFORE, IT IS AGREED BY AND BETWEEN THE VILLAGE AND THE DISTRICT AS FOLLOWS: 1. That for the period beginning January 1, 2016 to December 31, 2016, at 12:00 midnight said day, the Village shall furnish all fire fighting, fire protection, fire prevention and other emergency services, including emergency ambulance service, by such volunteer or paid on call and/or regular firemen available to the Village as the Fire Chief of the Village shall determine, to the District for a certain area as shown and outlined in red on Exhibit 1 attached hereto and made a part hereof. 2. That for the period of time during which this Agreement shall be in full force and effect, the District agrees to pay and the Village agrees to accept as full payment for said fire protection, fire prevention services and emergency services, that amount of monies received from tax receipts, replacement taxes, interest and other miscellaneous income collected during the period beginning January 1, 2016 and ending December 31, 2016, less all reasonable costs of running the said District, including, but not limited to, all administrative legal salaries and other expenses incurred. (2) A. It is understood that the District shall levy taxes at the maximum rate authorized by statute without referendum, which shall not be less than .30% of the value of all taxable property within the District, and shall apply for and make all efforts to receive any available state and/or federal aid to fire protection districts as is now available or may be available during the term hereof. B. The District will retain the sum of $2,500.00 to handle any contingency or emergency matters that may develop during the year. All other monies shall be paid to the Village as follows: On January 15, April 15, July 15 and October 15, 2016 all monies over and above the aforementioned $2,500.00 contingency fund shall be paid to the village. C. In addition, the District shall provide the Village with the follows: ( I) A copy of the schedule of meetings of the District for the year 2016, be furnished upon execution of this Agreement. ( ii) A certified copy of the Tax Levy Ordinance adopted by the District for the fiscal year 2015 thru 2016, to be furnished upon execution of this Agreement. ( iii ) A copy of the District's audited financial statement for the period ending June 30, 2016, to be furnished within thirty (30) days after receipt by the District. ( iv ) A copy of the Minutes of each District meeting, to be furnished within (30) days after each meeting, when requested by the Village. (v) The District shall provide the Village with copies of its quarterly receipts and disbursements, for informational purposes only, it being fully understood right of pre -approval regarding said disbursements. (3) 3. That the Fire Chief of the Village shall have the sole and exclusive right, duty and responsibility to prescribe the manner and method of giving the alarm for fire and/or other emergencies occurring within the District's territory as outlined upon said Exhibit I. 4. That the Fire Chief of the Village or his authorized representative shall have the sole and exclusive authority and responsibility to direct and control any and all fire fighting, fire protection, fire prevention and other emergency operations carried on at the scene of any alarm or emergency occurring within that territory of the District shown upon the said Exhibit I. 5. That all fire fighting, fire protection, fire prevention and other emergency procedures conducted under the provisions hereof shall be conducted in accordance with the regulations of the Mount Prospect Fire Department and the ordinances of the Village. Furthermore, the District agrees that within thirty (30) days of the execution hereof, if permitted by state statute, it shall pass and approve ordinances identical in form and content to the ordinances of the Village which deal with fire fighting, fire protection, fire prevention, building construction as related to fire safety and other emergency procedures. Certified copies of said Ordinance(s) shall be submitted to the Village within ten (10) days of their adoption by the District. 6. That all expenses and cost of maintaining equipment, apparatus, salaries, insurance premiums and any and all other items of expenses connected with the several services contemplated herein to be supplied by the Village to the District shall be borne by the Village. The only expense falling upon the District shall be in the form of the payments scheduled to be made hereinabove under Paragraph 2b. 7. That, within seven (7) days of receipt of notice of annexation by an municipality of land and territory within its district (as shown in orange upon the said Exhibit I hereto), the District shall forward a copy of said notice (with the legal description contained therein) to the village by addressing same to the attention of. Village Clerk 100 South Emerson Street Mount Prospect, Illinois 60056 (4) IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their respective offices and have affixed hereunto their respective corporate seals, all having been authorized by the adoption of a suitable Resolution passed and approved by each of the respective parties hereto. Village of Mount Prospect am Attest: Village Clerk Forest River Fire Protection District President Attest: Secretary Dated this 3`d day of November, 2015 FOREST RIVER FIRE PROTECTION DISTRICT 207 LEE STREET MOUNT PROSPECT, ILLINOIS 60056 Exhibit 1 THIS NOTICE IS REQUIRED BY LAW DO NOT REMOVE FOREST RIVER FIRE PROTECTION DISTRICT 207 LEE STREET MOUNT PROSPECT, ILLINOIS 60056 November 3rd, 2015 2016 MEETING SCHEDULE Notice is hereby given by the Board of Trustees of the Forest River Fire Protection District, Cook County, Illinois, of the regular open meetings covering calendar year 2016. They are to be held at the Forest River Community Hall, 207 Lee Street, Mount Prospect, Illinois at 7:00 P.M. The meetings will be held on: January 5 th July 12th February 2nd August 2nd March 1st September 6th April 5th October 4th May 3rd November 15th June 7 th December 6th Thank You, L:: ' Z -t Adam Baczanski Secretary STATE OF ILLINOIS ) SS COUNTY OF COOK ) SECRETARY'S CERTIFICATE I, Adam Baczanski, Secretary of the Board of Trustees of the Forest River Fire Protection District, in the County of Cook, State of Illinois, do hereby certify that attached hereto is a true and correct copy of that certain Ordinance now on file in my office entitled: ORDINANCE NO. 201.5-02 ORDINANCE LEVYING AND ASSESSING TAXES OF THE FOREST RIVER FIRE PROTECTION DISTRICT, COOK COUNTY, ILLINOIS FOR 2016 which said Ordinance was adopted by the Board of Trustees of the Forest River Fire Protection District at a regular meeting held on the 3rd day of November, 2015. I do further certify that a quorum of said Board of Trustees was present at said meeting, and that the Board of Trustees compiled with all the requirements of the Illinois Open Meetings Act. IN WITNESS WHEREOF, I have hereunto set my hand this 3rd day of November, 2015. Adam Baczanski Secretary, Board of Trustees Forest River Fire Protection District FOREST RIVER FIRE PROTECTION DISTRICT TRUTH IN TAXATION CERTIFICATE I, Paul Simon, hereby certify that I am the presiding officer of the Board of Trustees of the Forest River Fire Protection District, Cook County, Illinois, and as such, I hereby certify that the District's 2016 levy ordinance, a copy of which is appended hereto, was adopted pursuant to, and in compliance with, the provisions of Section 18-60 through 18-85 of the Truth in Taxation Law, 35 ILCS 200/18-55 et seq. The provisions of Section 18-60 through 18-85 of the Truth in Taxation Law are inapplicable to the District's 2016 levy. IN WITNESS WHEREOF, I have placed my signature this 3rd day of November, 2015. � �, - �-� � Paul Simon President, Board of Trustees Forest River Fire Protection District ORDINANCE NO. 2015-02 ORDINACE LEVYING AND ASSESSING TAXES OF THE FOREST RIVER FIRE PREVENTION DISTRICT, COOK COUNTY, ILLINOIS FOR 2016 BE IT ORDAINED by the Board of Trustees of the Forest River Fire Prevention District, Cook County, Illinois, as follows: Section One: That the sum of SEVENTY-ONE THOUSAND AND THIRTY-FIVE DOLLARS ($71,035) be and the same is assessed and levied from and against all taxable property within the limits of the said Forest River Fire Protection District as the same is assessed and equalized for State and County purposes for the current year, 2015, and which ordinance was duly published as provided by law, and the specific amount hereby levied is set forth under the column entitled "Amount To Be Raised By Tax Levy," as follows: AMOUNT TO BE RAISED BY TAX LEVY: CORPORATE FUND Fire Contractual Services $60,485.00 Contingency Fund $2500.00 Trustee Fees $2250.00 Legal Fees $1000.00 Publication Fees $500.00 Fire Association Dues $300.00 TOTAL CORPORATE FUND LEVY $67,035.00 The foregoing amount is hereby appropriated for corporate expense pursuant to the previsions of 70 ILCS 705/14. AUDIT FUND Audit Fund Levy $2000.00 The foregoing amount is hereby appropriated for audit expense pursuant to the previsions of 50 ILLS 310/9. TORT LIABILITY FUND Tort Liability Fund Levy $2000.00 The foregoing amount is hereby appropriated for tort liability expense pursuant to the previsions of 745 ILCS 10/9-107. LEVY SUMMARY TOTAL CORPORATE LEVY TOTAL AUDIT FUND TOTAL TORT LIABILITY FUND GRAND TOTAL $67,035.00 $2000.00 2000.00 $71,035.00 Section 2: That the Secretary is hereby directed to file certified copies of this ordinance with the Cook County Clerk within the time specified by law. Section 3: That this ordinance shall be in full force and effect from and after its passage and approval as required by law. ADOPTED this 3rd day of November 2015, pursuant to a roll call vote as follows: AYES: NAYS: O ABSENT: O President, Board of Trustees Forest River Fire Protection District ATTEST: Secretary, 4dard of Trustees Forest River Fire Protection District