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Home My WebLink About7.5 An Ordinance Making Certain Amendments to 2018 Fiscal Year BoardDocs® ProPage 1 of 2 Agenda Item Details MeetingMar 06, 2018 - REGULAR MEETING OF THE MOUNT PROSPECT VILLAGE BOARD - 7:00 p.m. Category7. NEW BUSINESS Subject7.5 1st reading of AN ORDINANCE MAKING CERTAIN AMENDMENTS TO THE ANNUAL BUDGET ADOPTED FOR THE FISCAL YEAR BEGINNING JANUARY 1, 2018 AND ENDING DECEMBER 31, 2018 AccessPublic TypeAction Preferred DateMar 06, 2018 Absolute DateMar 06, 2018 Fiscal ImpactYes BudgetedYes Budget SourceVarious Funds - Prior year carry-over Recommended ActionAdopt the proposed budget amendment #1 for the 2018 annual budget. Public Content Information Staff is recommending that the annual budget be amended for fiscal year beginning January 1, 2018 and ending December 31, 2018. Ordinance 6352, adopted December 5, 2017, established the annual budget for the year ending December 31, 2018. Each year the Village prepares budget amendments impacting revenues and/or expenses to the current year's budget. The first of these amendments is typically prepared in Spring and amends the budget for carry-over items from the prior 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. These amendments are necessary to comply with the Budget Officer Act. A proposed ordinance amending the 2018 annual budget is attached for the Board's consideration. In total, this amendment increases budgeted expenditures by $2,505,254. Adjustments to expenditures totaling $2.5 million are being made to various supply, contractual service, equipment and capital accounts. There are three more significant increases to note impacting the Vehicle Replacement, Flood Control Construction, and Motor Fuel Tax Funds. Of the $2.5 million increase in expenses, $483,444 is for motor vehicles scheduled for replacement in 2017 that are not being received until 2018. These is also a carry-over totaling $289,952 for detention pond improvements and $280,659 for the Willow/Cypress streetlight project. The attached ordinance details the recommended changes to the budget listing the impacted Funds and individual accounts therein. Alternatives 1. Adopt the budget amendment ordinance for 2018. 2. Action at discretion of Village Board. https://www.boarddocs.com/il/vomp/Board.nsf/Private?open&login6/21/2018 BoardDocs® ProPage 2 of 2 Staff Recommendation It is recommended the Village Board adopt the proposed budget amendment #1 for the 2018 annual budget. 2018 Budget Amendment #1 (002).pdf (144 KB) Administrative Content Executive Content Motion & Voting Adopt the proposed budget amendment #1 for the 2018 annual budget. Motion by Michael Zadel, second by Paul Hoefert. 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&login6/21/2018 ORDINANCE NO. _______________ AN ORDINANCE MAKING CERTAIN AMENDMENTS TO THE ANNUAL BUDGET ADOPTED FOR THE FISCAL YEAR COMMENCING JANUARY 1, 2018 AND ENDING DECEMBER 31, 2018 ________________________________________________________________________ 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, 2018 AND ENDING DECEMBER 31, 2018 ________________________________________________________________________ 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, 2018 and ending December 31, 2018 was adopted through the passage of Ordinance No. 6352 approved by the Corporate Authorities of the Village of Mount Prospect on December 5, 2017; and WHEREAS, the President 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, 2018 and ending December 31, 2018; and WHEREAS, the President and Board of Trustees of the Village of Mount Prospect believe the changes, as specified on the attached January 1, 2018 through December 31, 2018 Budget Amendment No. 1 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 Number One, 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, 2018 through December 31, 2018 for the Village of Mount Prospect is hereby amended, as detailed on Budget Amendment No. 1 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. 1 Fiscal Year January 1, 2018 through December 31, 2018 Expenditures CurrentAmended BudgetIncreaseBudget Fund/Account NumberAccount DescriptionAmount(Decrease)Amount 001 General Fund 001.60.01.00.0.000.530.006Other Prof. Serv. 14,586 11,800 26,386 001.60.01.00.0.000.655.004Computer Eqpt - Depts 10,000 9,000 19,000 001.60.61.65.0.000.603.001Clothing Supplies 17,500 3,780 21,280 001.80.90.00.0.704.674.001Intersection Studies 400,000 162,438562,438 442,086 187,018629,104 All other General Fund accounts 54,373,332 - 54,373,332 Total General Fund 54,815,418 187,018 55,002,436 020 Capital Improvement Fund 020.40.90.00.0.704.641.001Corridor Improv 200,000 100,000300,000 020.60.90.00.0.707.561.010Police Department Software - 110,000110,000 020.80.90.00.0.705.679.001D/T Streetscape Prog - 68,902 68,902 020.80.90.00.1.703.677.005Detention Pond Improv - 289,952289,952 020.80.90.00.1.704.678.019Kensington Road Improv - 88,086 88,086 020.80.90.00.1.705.676.001Streetlight Improv 125,000 31,181156,181 020.80.90.00.1.706.651.010Repl HVAC-Pub Bldgs 275,000 58,225333,225 020.80.90.00.1.710.641.002KBC Jogging Path Rehab - 15,000 15,000 600,000 761,3461,361,346 All other Capital Improvement Fund accounts 1,749,277 -1,749,277 Total Capital Improvement Fund 2,349,277 761,3463,110,623 024 Flood Control Construction Fund 024.80.00.00.0.000.677.001Creek Bank Stabilization 25,000 21,343 46,343 024.80.90.00.1.702.677.003Levee 37 360,000 50,546410,546 024.80.90.00.0.703.672.006Storm Sewer Inspection Prog 102,000 53,775155,775 024.80.90.00.1.703.677.019Storm Sewer Improvements - 175,556175,556 487,000 301,220788,220 All other Flood Control Construction Fund accounts 332,958 -332,958 Total Flood Control Construction Fund 819,958 301,2201,121,178 040 Refuse Disposal Fund 040.80.90.00.0.707.561.002Software Development 50,000 5,065 55,065 50,000 5,065 55,065 All other Refuse Disposal Fund accounts 4,298,170 -4,298,170 Total Refuse Disposal Fund 4,348,170 5,0654,353,235 041 Motor Fuel Tax Fund 041.80.90.00.0.704.676.003Traffic Signal Repl 50,000 50,000100,000 041.80.90.00.1.705.676.001Streetlight Improv - 280,659280,659 50,000 330,659380,659 All other Motor Fuel Tax Fund accounts 1,418,723 -1,418,723 Total Motor Fuel Tax Fund 1,468,723 330,6591,799,382 1 VILLAGE OF MOUNT PROSPECT Budget Amendment No. 1 Fiscal Year January 1, 2018 through December 31, 2018 Expenditures CurrentAmended BudgetIncreaseBudget Fund/Account NumberAccount DescriptionAmount(Decrease)Amount 045 DUI Fine Fund 045.60.61.65.0.000.665.031Other Equipment 1,000 4,0005,000 1,000 4,0005,000 All other DUI Fine Fund accounts 2,000 -2,000 Total DUI Fine Fund 3,000 4,0007,000 050 Water and Sewer Fund 050.80.90.00.1.700.665.079SCADA Wireless Telemetry 80,000 101,000181,000 050.80.90.00.1.700.671.003Water Main Repl 2,250,000 95,0002,345,000 050.80.90.00.1.701.672.002Lift Station Rehab 650,000 147,500797,500 2,980,000 343,5003,323,500 All other Water & Sewer Fund accounts 15,806,456 - 15,806,456 Total Water & Sewer Fund 18,786,456 343,500 19,129,956 061 Vehicle Replacement Fund 061.60.90.00.1.708.660.003Police Dept Vehicles 12,000 89,002101,002 061.80.90.00.1.708.660.006Public Works Vehicles 769,000 483,4441,252,444 781,000 572,4461,353,446 All other Vehicle Replacement Fund accounts 1,605,000 -1,605,000 Total Vehicle Replacement Fund 2,386,000 572,4462,958,446 Total Village Budget Funds being changed 84,977,002 2,505,254 87,482,256 All other Village Budget Accounts 38,714,761 - 38,714,761 Total Village Budget after Changes 123,691,763 2,505,254126,197,017 2