HomeMy WebLinkAbout5.4 An Ordinance Making Certain Amendments to the Annual Budget
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Agenda Item Details
MeetingApr 17, 2018 - REGULAR MEETING OF THE MOUNT PROSPECT VILLAGE BOARD - 7:00
p.m.
Category5. CONSENT AGENDA
Subject5.4 Motion to waive the rule requiring two readings of an ordinance and adopt an
ORDINANCE MAKING CERTAIN AMENDMENTS TO THE ANNUAL BUDGET ADOPTED
FOR THE FISCAL YEAR BEGINNING JANUARY 1, 2017 AND ENDING DECEMBER 31,
2017
AccessPublic
TypeAction (Consent)
Preferred DateApr 17, 2018
Absolute DateApr 17, 2018
Fiscal ImpactYes
BudgetedYes
Budget SourceRisk Management Fund
Recommended ActionAdopt the proposed budget amendment #4 for the 2017 annual budget.
Public Content
Information
Staff is recommending that the annual budget be amended for fiscal year beginning January 1, 2017 and
ending December 31, 2017.
Ordinance 6290, adopted December 20, 2016, established the annual budget for the year ending December
31, 2017. Ordinance 6308 adopted March 7, 2017 amended the annual budget for the year ending December
31, 2017. Ordinance 6314 adopted March 21, 2017 amended the budget for the year ending December 31,
2017. Ordinance 6378 adopted March 6, 2018 further amended the budget for the year ending December 31,
2017.
Each year the Village prepares budget amendments impacting revenues and/or expenses to the current year’s
budget. Accounts adjusted in the first amendment are typically for capital projects started in the previous year
but not completed. Amendments brought forward later in the year adjust the budget for material variations in
revenues and expenditures resulting from extraordinary or unanticipated events and are necessary to comply
with state statutes and the Budget Officer Act.
A proposed ordinance amending the 2017 annual budget is attached for the Board’s consideration. In total,
this amendment increases the budget for for expenditures by $410,000. Adjustments increasing total
expenditures to the Risk Management Fund are the result of Workers' Compensation Claims coming in higher
than expected.
Alternatives
https://www.boarddocs.com/il/vomp/Board.nsf/Private?open&login6/12/2018
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1. Adopt the budget amendment ordinance.
2. Action at discretion of Village Board.
Staff Recommendation
It is recommended the Village Board adopt the proposed budget amendment #4 for the 2017 annual budget.
Combined 2017 BA #4 - Board Docs.pdf (132 KB)
Administrative Content
Executive Content
All items under Consent Agenda are considered routine by the Village Board and will be enacted by one
motion. There will be no separate discussion of those items unless a Board member or member from the
audience so requests, in which the item will be removed from the Consent Agenda and considered in its
sequence on the agenda.
Motion & Voting
(not specified)
Motion by Michael Zadel, second by Richard Rogers.
Final Resolution: Motion Carries
Yea: William Grossi, Eleni Hatzis, Paul Hoefert, Richard Rogers, Colleen Saccotelli, Michael Zadel
https://www.boarddocs.com/il/vomp/Board.nsf/Private?open&login6/12/2018
ORDINANCE NO. _______________
AN ORDINANCE MAKING CERTAIN AMENDMENTS TO THE ANNUAL
BUDGET ADOPTED FOR THE FISCAL YEAR COMMENCING JANUARY 1, 2017
AND ENDING DECEMBER 31, 2017
________________________________________________________________________
PASSED AND APPROVED BY
THE PRESIDENT AND BOARD OF TRUSTEES
the day of , 2018
Published in pamphlet form by
authority of the corporate authorities
of the Village of Mount Prospect, Illinois
the day of , 2018.
ORDINANCE NO. ________
AN ORDINANCE MAKING CERTAIN AMENDMENTS TO THE ANNUAL
BUDGET ADOPTED FOR THE FISCAL YEAR COMMENCING JANUARY 1, 2017
AND ENDING DECEMBER 31, 2017
________________________________________________________________________
WHEREAS, the President 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
WHEREAS, pursuant to the aforesaid Ordinance and the Statutes of the State of Illinois an
annual budget for the fiscal year commencing January 1, 2017 and ending December 31,
2017 was adopted through the passage of Ordinance No. 6290 approved by the Corporate
Authorities of the Village of Mount Prospect on December 20, 2016; and
WHEREAS, the President and Board of Trustees of the Village of Mount Prospect have
passed and approved Ordinance No. 6308 on March 7, 2017, amending the annual budget
for the fiscal year commencing January 1, 2017 and ending December 31, 2017; and
WHEREAS, the President and Board of Trustees of the Village of Mount Prospect have
passed and approved Ordinance No. 6314 on March 21, 2017, further amending the annual
budget for the fiscal year commencing January 1, 2017 and ending December 31, 2017;
and
WHEREAS, the President and Board of Trustees of the Village of Mount Prospect have
passed and approved Ordinance No. 6378 on March 6, 2018, further amending the annual
budget for the fiscal year commencing January 1, 2017 and ending December 31, 2017;
and
WHEREAS, the President and Board of Trustees of the Village of Mount Prospect have
reviewed certain additions and changes to the aforesaid budget for the fiscal year beginning
January 1, 2017 and ending December 31, 2017; and
WHEREAS, the President and Board of Trustees of the Village of Mount Prospect believe
the changes, as specified on the attached January 1, 2017 through December 31, 2017
Budget Amendment No. 4 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. 4, attached hereto.
NOW THEREFORE BE IT ORDAINED BY THE PRESIDENT AND BOARD OF
TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY,
ILLINOIS:
SECTION ONE: That the fiscal year budget for January 1, 2017 through December 31,
2017 for the Village of Mount Prospect is hereby amended, as detailed on Budget
Amendment No. 4 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:
NAYES:
ABSENT:
PASSED and APPROVED this day of , 2018.
____________________________________
Arlene A. Juracek
Mayor
ATTEST
_______________________________________
Karen Agoranos
Village Clerk
VILLAGE OF MOUNT PROSPECT
Budget Amendment No. 4
Fiscal Year January 1, 2017 through December 31, 2017
Expenditures
CurrentAmended
BudgetIncreaseBudget
Fund/Account NumberAccount DescriptionAmount(Decrease)Amount
063 Risk Management Fund
063.00.00.00.4.000.599.003Worker's Comp Claims 572,000 410,000 982,000
572,000 410,000 982,000
All other Risk Management Fund accounts 7,869,820 - 7,869,820
Total Risk Management Fund 8,441,820 410,000 8,851,820
Total Village Budget
Funds being changed 8,441,820 410,000 8,851,820
All other Village Budget Accounts 109,931,344 - 109,931,344
Total Village Budget after Changes 118,373,164 410,000 118,783,164
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