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Home My WebLink About7.2 1st Reading of an Ordinance Adopting an Annual Budget for 2019 Fiscal YearBoardDocs® Pro Agenda Item Details Meeting Category Subject Access Type Preferred Date Absolute Date Fiscal Impact Budgeted Recommended Action Public Content Page I of 2 7.2 1st • • AN ORDINANCE ADOPTING AN ANNUAL BUDGET FOR THE VILLAGE • • PROSPECT, ILLINOIS FOR FISCAL YEAR COMMENCING JANUARY 1, 2019 AND ENDING DECEMBER 31f 2019 IN LIEU OF PASSAGE OF AN APPROPRIATION ORDINANCE Public Action Nov 07, 2018 Nov 07, 2018 Yes Yes Information The Village Manager's Office released the Proposed 2019 Budget on September 28, 2018. During October, the Village Board an Finance Commission, meeting separately and as a joint Committee of the Whole, held four public meetings to review the budge I and to provide residents an opportunity to participate in the budget process. Departmental presentations were made wit • staff • hand to facilitate discussion. The following link will take you to the Village's proposed budget document. Proposed 2019 Budget The proposed spending plan is a responsible and transparent financial plan that incorporates key policies and priorities established by the Mayor, Board of Trustees and Finance Commission. The total budget for 2019 is $162,275,489, an increast" of 28.6 percent from the amended 2018 budget. The General Fund, as presented, totals $57,243,467. This is an increase of 4.1 • from the prior year. A public hearing on the proposed budget has been scheduled for November 7, 2019. Notice of the public hearing was published in the Daily Herald on October 29, 2018. The ordinance and summary schedules 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. The approved budget document is scheduled to be assembled for distribution no later than December 31, 2018. Alternatives 1. Village Board approval of the Proposed 2019 Budget. 2. Action at discretion of Village Board. Staff Recommendation It is recommended the Village Board pass the accompanying ordinance adopting the 2019 annual budge] https://www.boarddocs.com/il/vomp/Board.nsf/Private?open&login 11/9/2018 BoardDocs® Pro BUd get SU is is � - �,� n �, 4 � 201.9 L g � i� n2).pdf (38 KB) Administrative Content Executive Content Page 2 of 2 https://www.boarddocs.com/il/vomp/Board.nsf/Private?open&login 11/9/2018 VILLAGE OF MOUNT PROSPECT, ILLINOIS 2019 PROPOSED ANNUAL BUDGET IIGIoTAL VILLAGE E"I Excess (Deficiency) of Revenues & Other Sources Over Expenditures 24,515,942 (307,168) 31,577,148 (17,082,943) (18,114,040) FUND BALANCE 2017 2018 2018 2019 2020 Start of Budget Year Actual Budget Estimate Budget Forecast REVENfJES AND OTI IER SP1f.VRW' ES 188,226,320 187,919,152 219,803,468 202,720,525 184,606,485 Property Taxes 19,910,491 19,173,953 19,455,000 19,722,000 20,654,000 Other Taxes 13,801,153 13,980,518 14,025,000 14,018,000 14,119,030 Licenses, Permits & Fees 3,084,103 3,087,000 3,222,000 3,032,000 3,032,000 Intergovernmental Revenue 29,701,373 28,695,676 30,850,685 33,561,299 32,494,414 Charges for Services 29,619,884 31,320,374 31,133,953 33,059,327 34,649,968 Fines & Forfeits 634,031 654,300 619,000 616,000 616,000 Investment Income 18,815,927 10,654,300 8,844,700 8,178,400 8,420,400 Reimbursements 322,460 255,900 337,900 228,500 230,500 Other Revenue 11,240,126 10,652,828 11,441,220 10,962,020 11,580,660 Other Financing Sources 5,619,172 7,415,000 49,293,000 21,815,000 1,586,000 Total Revenues & Other Sources 132,748,720 125,889,849 169,222,458 145,192,546 127,382,972 BUDGET'E]]'UEN]l ]JTU]]'w]l'"S Village Operating Budget 69,498,236 72,302,171 72,218,226 73,709,162 74,948,013 Village Capital Budget 10,042,155 21,072,546 22,309,592 51,363,432 35,394,827 Debt Services Budget 5,047,249 5,495,937 6,712,948 7,842,226 7,615,749 Pension Systems Budget (a) 10,620,967 11,031,315 11,577,015 12,173,497 12,502,373 Internal Services Budget (b) 10,800,488 10,669,548 11,047,229 11,235,672 11,667,714 Business District Fund 1,451,171 1,523,000 1,490,000 1,525,000 1,549,000 Prospect/Main TIF Dist Non -Op Exp 172,512 3,352,500 10,688,300 2,886,500 308,336 Interfund Transfers 600,000 750,000 1,602,000 1,540,000 1,511,000 Total Expenditures 108,232,778 126,197,017 137,645,310 162,275,489 145,497,012 Excess (Deficiency) of Revenues & Other Sources Over Expenditures 24,515,942 (307,168) 31,577,148 (17,082,943) (18,114,040) FUND BALANCE Start of Budget Year 163,710,378 188,226,320 188,226,320 219,803,468 202,720,525 End of Budget Year 188,226,320 187,919,152 219,803,468 202,720,525 184,606,485 Less: Pension Fund Balances ( c) 137,334,402 145,212,837 142,191,106 146,124,728 150,572,474 Available Fund Balance 50,891,918 42,706,315 77,612,362 56,595,797 34,034,011 (a) Pension Systems Budget includes payments made to members and beneficiaries of the Fire and Police Pension plans (defined benefit plans). Village contributions made to the Police and Fire Pension Funds are accounted for within the General Fund of the Operating Budget. (b) 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. (c) Pension Fund Balances are reserved for pension benefits and not available for appropriation. VILLAGE OF MOUNT PROSPECT, ILLINOIS 2O19PROPOSED ANNUAL BUDGET RE'VE"N0E'S/&ND O"I'8I E'B8SO0B8CE'S BY'RE"VE"0J0�TY4q," Revenues, Expenditures, and Fund Mance/Net Assets (excluding Pension Funds) 2017 2018 2018 2019 2020 Actual Budget Estimate Budget Forecast REVENUES B9T911E Property Taxes 19'910\491 19'173'953 19'455'000 19,722,000 20\654`000 Other Taxes 13'801'153 13'980\518 14`025'000 14,018,000 14`119'030 Licenses, Permits & Fees 3'084`103 3'087'000 3'222'000 3,032,000 3'032'000 Intergovernmental Revenue 29'701'373 28'695'676 3[\85[\685 33,561,299 32'494`414 Charges For Services 29'619'884 31'320\374 31'133'953 oo'osy'oaz 34`649'968 Fines & Forfeits 634`031 654`300 619'000 616,000 616'000 Investment Income 18'815'927 10\654`300 8'844,700 8,178,400 8'420\400 Reimbursements 322'460 255'900 337'900 228,500 230\500 Other Revenue 11'240,126 10\652'828 11'441'220 10,962,020 11'580\660 Total Revenues 127'129'548 118'474`849 119'929'458 zao'ozz'sus 125'796'972 OTI[ER FINANCING SOURCES |nterfundTransfers 600,000 750\000 1'602'000 1,540,000 1'511'000 Bond Proceeds 4'930'835 5'000'000 47'031'000 20,200,000 Other 88'337 1'665'000 660'000 75,000 75'000 Total Other Financing Sources 5'619'172 7'415'000 49'293'000 21,815,000 1'586'000 TOTAL REVENUES AND OTHER SOURCES zoazuuzao zasuuyuuy zsyaaausu zuszyasus zazouayza CIIANGES IN FUND BAI.,ANCE/NET� ASSETS Total Revenues and Other Sources 132'748'720 125'889'849 169'222'458 145,192,546 127'382'972 Total Expenditures 108232778 126197017 137645310 zsaazsuuy 145497012 Additions to(Useof) Fund Balance 24'515'942 (307'168) 31'577'148 (17,082,943) (18'114'040) ANAI.,9SIS OF CIIANGES IN FUND BAI.,ANCE/NET� ASSETS Additions to(Useof) Pension Fund Balances 17'012'887 7'878'435 4'856'704 3,933,622 4'447'746 Additions to(Use of) Other Fund Balances 7,503,055 (8,185,603) 26,720,444 (21,016,565) (22,561,786) Additions to(Useof) Fund Balance 24'515'942 (307'168) 31'577'148 (17,082,943) (18'114'040) Revenues, Expenditures, and Fund Mance/Net Assets (excluding Pension Funds) VILLAGE OF MOUNT PROSPECT, ILLINOIS 2O19PROPOSED ANNUAL BUDGET 2017 2018 2018 2019 2020 Actual Budget Estimate Budget Forecast OPERATING BUDGET PUBLUC REPRESENTATION 719'942 773'873 796'827 553,883 559'281 VULLAGEA0MUNU5TRATUON Village Manager's Office, Legal Services 1'637'327 1'522'928 1'397'398 1,457,302 1'479'770 Village Clerk's Office 146'475 181'224 154`498 175,583 180\140 Human Resources Division 441'367 413'168 416'317 392,790 400,975 Information Technology Division 1'378'674 1'529'937 1'454`456 1,350,417 1'381'696 Communications Division 488,166 516,669 522,066 53 Total Village Administration 4`092'009 4`163'926 3'944,735 3,915,050 3'995'481 FINANCE DEPARTMENT 2'691'196 3'018'507 3'271'989 3,376,472 2'766'941 COMIMIUMUTY0EVELOPMENTDEPARTMENT Econ Devand Planning &Zoning 1'160\304 1'251'933 1'361'117 1,133,011 1'183'542 Building d Inspection Services 1,648,075 1,980,176 Total Community Development Dept 2'808'379 3'232'109 3'281'761 3,109,999 3'211'551 HIUMIANSERVICES DEPARTMENT 1'117'712 1'246'498 1'129'148 1,165,232 1'232'247 PUBLUCEAFETY AN0PROTEcrUm Police Department 17'861'033 18'700,380 18'587'619 18,914,050 19'472'580 Fire Department 15587244 15648016 1558 Total Public Safety and Protection 33'448'277 34`348'396 34`172'506 35,057,412 36'011'362 PUBLUC WORKS DEPARTMENT Administration Division 5'549'811 5'630\699 5'644,744 5,930,623 6'053'777 Streets and Buildings Division 3'371'270 4`036'569 4`103'504 4,241,566 4`319'426 Forestry and Grounds Division 1'672'285 1'823'243 1'842'707 2,033,136 2'086'964 Engineering Division 1'500,522 1'528'378 1'548'280 1,693,703 1'738'536 Water and Sewer Division 12,526,833 12,499,973 12,482,025 12632086 12,972,447 Total Public Works Department 24`620\721 25'518'862 25'621'260 26,531,114 27'171'150 TOTALOPERATING BU0GE'r 69,498,236 VILLAGE OF MOUNT PROSPECT, ILLINOIS 2 0 19 PROPOSED ANNUAL BUDGET 2017 2018 2018 2019 2020 Actual Budget Estimate Budget Forecast Q0MIMIUMUTYUNVE5TMENT PROGRAM 10,042155 21,072,546 22,309,592 51,363,432 35,394,827 DEBT MANAGEMENT 5'047'249 5'495'937 6'712'948 7,842,226 7'615'749 PENSION 5Y5TEMI5BUDGET Miscellaneous Pensions 46'779 46'950 5'819 5,819 5'819 Police Pensions 5'004847 5'224`155 5'560\186 5,973,842 6'146'700 Fire Pensions 5,569,341 5,760,210 Total Pension Systems Budget 1[\62[\967 11'031'315 11'577'015 12,173,487 12'502'373 UNTERNALSERVICES BU0GE'r Vehicle Maintenance 2'048'217 2'056'210 2'226'985 2,026,799 2'082'138 Risk M 8752271 8613338 8,820,244 9,208,873 9,585,576 Total Internal Services Budget 10\800,488 10\669'548 11'047'229 11,235,672 11'667'714 5PECUALREVENUE FUNDS Business District Fund 1'451'171 1'523'000 1'490\000 1,525,000 1'549'000 Prospect/Main TIF Dist N Op Expense 172512 3,352,500 10,688,300 2,886,500 308,336 Total Special Revenue Funds 1'623'683 4`875'500 12'178'300 4,411,500 1'857'336 UNTERFUN0TRAN5FER5 600,000 TOTAL EXPENDITURES 108,232'778 zaa,zyz'ozz zoz'aus'ozo zsa'azs'uuy 145'497'012 VILLAGE OF MOUNT PROSPECT, ILLINOIS REVENUES AN].) OT111.111 SOURf11S IAV FUND 2019 PROPOSED ANNUAL BUDGET SPE TIAL i' EVENLJE F ,)NDS Refuse Disposal Fund 2017 2018 2018 2019 2020 Motor Fuel Tax Fund Actual Budget Estimate Budget Forecast GENERAL F ,fND 53,801,966 53,468,260 55,881,435 56,434,900 58,056,900 DEB "'ll"` SET' VII 'E F ,fND 4,913,153 5,011,668 8,185,668 5,827,228 5,897,856 'APII„II,,.AL PROJE '"°IIS F ,)NDS 180 2,000 4,200 2,200 2,200 Capital Improvement Fund 2,017,935 2,061,000 2,125,000 2,142,000 2,157,000 Street Improvement Construc Fund 3,727,461 3,662,000 3,998,000 3,771,000 3,801,000 Flood Control Construction Fund 396,039 339,000 428,482 2,417,422 531,074 Police & Fire Building Const. - - 32,948,000 88,000 10,000 Total Capital Projects Funds 6,141,435 6,062,000 39,499,482 8,418,422 6,499,074 SPE TIAL i' EVENLJE F ,)NDS Refuse Disposal Fund 4,317,771 4,337,000 4,348,480 4,371,720 4,393,650 Motor Fuel Tax Fund 1,427,785 1,415,000 1,431,000 1,435,000 1,445,000 CDBG 404,566 438,666 552,720 365,649 400,114 Asset Seizure Fund 30,052 7,000 12,000 12,000 12,000 Federal Equitable Share Funds 180 2,000 4,200 2,200 2,200 DUI Fine Fund 27,125 25,500 25,400 25,500 25,500 Foreign Fire Tax Board Fund 85,478 92,000 94,000 94,000 94,000 Business District Fund 1,451,171 1,523,000 1,490,000 1,525,000 1,549,000 Prospect and Main TIF District 4,931,142 1,853,953 8,282,000 10,484,000 518,000 Total Special Revenue Funds 12,675,270 9,694,119 16,239,800 18,315,069 8,439,464 EN„II,,.Ei' Pi' IISE F ,.INDS Water and Sewer Fund 15,023,048 19,690,300 19,719,100 25,940,700 16,965,100 Village Parking System Fund 189,505 197,600 192,200 192,600 192,600 Parking System Revenue Fund 156,691 157,500 158,200 158,200 158,200 Total Enterprise Funds 15,369,244 20,045,400 20,069,500 26,291,500 17,315,900 IIN"'ll"`Ei' NAL SET' VII 'E F ,)NDS Vehicle Maintenance Fund 2,028,511 2,043,827 2,046,827 2,044,910 2,082,138 Vehicle Replacement Fund 1,855,965 1,734,300 1,791,300 2,337,100 2,337,100 Computer Replacement Fund 244,236 206,597 209,097 166,897 166,897 Risk Management Fund 8,131,865 8,760,878 8,871,449 9,255,220 9,643,343 Total Internal Service Funds 12,260,577 12,745,602 12,918,673 13,804,127 14,229,478 a`IIDI.f 'IIARY F ,)NDS Police Pension Fund 14,097,223 9,745,500 8,856,400 8,419,500 8,859,500 Fire Pension Fund 13,489,852 9,117,300 7,571,500 7,681,800 8,084,800 Total Fiduciary Funds 27,587,075 18,862,800 16,427,900 16,101,300 16,944,300 TOTAL REVENUES & OTHER SOURCES 132,748,720 125,889,849 169,222,458 145,192,546 127,382,972 VILLAGE OF MOUNT PROSPECT, ILLINOIS 2019 PROPOSED ANNUAL BUDGET QE:° Q QE::NaI QC"I" �QE'.E BY F1. M. SPE TIAL I' EVENLJE F ,)NDS Refuse Disposal Fund 2017 2018 2018 2019 2020 Motor Fuel Tax Fund Actual Budget Estimate Budget Forecast GENERAL F ,fND 53,087,346 55,002,436 55,569,854 57,243,467 57,671,620 DEB "'ll"` SEl' VII 'E F ,fND 4,897,159 5,014,972 5,643,872 6,726,407 6,583,380 'APII„II,,.AL PROJE '"°IIS F ,)NDS - 2,000 2,000 2,000 2,000 Capital Improvement Fund 1,269,450 3,110,623 3,030,623 2,603,440 7,231,872 Street Improvement Construc Fund 3,920,585 3,817,000 3,742,000 3,772,000 3,977,000 Flood Control Construction Fund 596,631 1,121,178 980,058 3,760,500 2,980,500 Police & Fire Building Const. - - 2,799,458 24,936,982 5,189,317 Total Capital Projects Funds 5,786,666 8,048,801 10,552,139 35,072,922 19,378,689 SPE TIAL I' EVENLJE F ,)NDS Refuse Disposal Fund 4,238,744 4,353,235 4,368,345 4,436,665 4,538,962 Motor Fuel Tax Fund 1,148,795 1,799,382 1,999,382 1,867,173 1,935,516 CDBG 404,566 438,666 552,720 365,649 400,114 Asset Seizure Fund 30,223 43,900 45,200 7,000 7,000 Federal Equitable Share Funds - 2,000 2,000 2,000 2,000 DUI Fine Fund 7,646 7,000 11,000 5,000 5,000 Foreign Fire Tax Board Fund 74,733 65,500 65,500 68,000 62,100 Business District Fund 1,451,171 1,523,000 1,490,000 1,525,000 1,549,000 Prospect and Main TIF District 298,120 5,510,919 12,049,358 10,229,238 1,211,074 Total Special Revenue Funds 7,653,998 13,743,602 20,583,505 18,505,725 9,710,766 EN„II,,.EI' PI' IISE F ,.INDS Water and Sewer Fund 14,305,740 19,129,956 19,346,468 19,535,109 25,271,324 Village Parking System Fund 80,669 176,167 178,958 146,570 140,829 Parking System Revenue Fund 149,200 173,209 212,087 156,039 159,236 Total Enterprise Funds 14,535,609 19,479,332 19,737,513 19,837,718 25,571,389 IIN"'ll"`EI' NAL SEl' VII 'E F ,)NDS Vehicle Maintenance Fund 2,048,217 2,056,210 2,226,985 2,026,799 2,082,138 Vehicle Replacement Fund 775,704 2,958,446 2,740,002 1,073,000 2,213,000 Computer Replacement Fund 121,620 295,515 200,000 412,900 203,900 Risk Management Fund 8,752,271 8,613,338 8,820,244 9,208,873 9,585,576 Total Internal Service Funds 11,697,812 13,923,509 13,987,231 12,721,572 14,084,614 a`IIDI.f 'IIARY F ,)NDS Police Pension Fund 5,004,847 5,224,155 5,560,186 5,973,842 6,146,700 Fire Pension Fund 5,569,341 5,760,210 6,011,010 6,193,836 6,349,854 Total Fiduciary Funds 10,574,188 10,984,365 11,571,196 12,167,678 12,496,554 TOTAL EXPENDITURES 108,232,778 126,197,017 137,645,310 162,275,489 145,497,012 VILLAGE OF MOUNT PROSPECT, ILLINOIS PI:IRSONAL SI:a'RVICEIS 2019 PROPOSED ANNUAL BUDGET Fire Dept 30.6 Police 35.2 Public Works Public Rep .1% Village Admin 4.4 nance Dept 2.7% mmunity Dev 4.9 iman Services Dept 2.1% 2017 2018 2018 2019 2020 Actual Budget Estimate Budget Forecast PUBLIC REPRESENTATION 232,220 266,744 267,896 28,909 28,909 VILLAGE ADMINISTRATION Village Manager's Office, Legal Sery 658,612 633,359 673,829 713,724 735,863 Village Clerk's Office 119,909 139,550 126,574 138,062 142,419 Human Resources 354,705 343,468 353,837 327,940 336,000 Information Technology 751,668 773,546 742,725 671,380 692,661 Communications 289,558 228,608 232,113 232,195 239,600 Total Village Administration 2,174,452 2,118,531 2,129,078 2,083,301 2,146,543 FINANCE DEPARTMENT 1,228,260 1,296,148 1,263,538 1,284,872 1,325,408 COIlY111MUfONIITYN: �IEVIEII..OPIIY111EfONT DEPARTMENT Econ Dev and Planning & Zoning 713,431 611,712 623,029 625,507 644,308 Building and Inspection Services 1,248,601 1,653,008 1,588,606 1,687,887 1,742,987 CDBG Total Community Development Dept 1,962,032 2,264,720 2,211,635 2,313,394 2,387,295 I•IU MIANmN SERVICES DEPARTMENT 975,363 1,077,108 969,453 988,463 1,052,358 PUBLIC SAFETY AND PROTEcTIIONmN Police Department 16,031,272 16,433,006 16,444,760 16,498,049 16,992,749 Fire Department 13,856,924 13,896,536 13,802,507 14,354,210 14,785,622 Total Public Safety and Protection 29,888,196 30,329,542 30,247,267 30,852,259 31,778,371 PUBLIC WORKS DEPARTMENT Administration 543,808 600,644 586,678 632,594 652,430 Streets/Buildings 1,961,648 1,992,284 2,054,219 2,169,745 2,238,727 Forestry and Grounds 1,004,287 1,041,627 1,049,013 1,206,973 1,244,837 Engineering 1,036,349 1,064,982 1,085,748 1,132,182 1,167,524 Water and Sewer Division 3,043,649 3,082,926 3,102,212 2,869,225 2,960,052 Parking Vehicle Maintenance 1,466,880 1,413,755 1,522,960 1,309,394 1,350,476 Total Public Works Department 9,056,621 9,196,218 9,400,830 9,320,113 9,614,046 TOTAL PERSONAL SERVICES 45,517,144 46,549,011 46,489,697 46,871,311 48,332,930 Fire Dept 30.6 Police 35.2 Public Works Public Rep .1% Village Admin 4.4 nance Dept 2.7% mmunity Dev 4.9 iman Services Dept 2.1% ORDINANCE NO. AN ORDINANCE ADOPTING AN ANNUAL BUDGET FOR THE VILLAGE OF MOUNT PROSPECT FOR THE FISCAL YEAR COMMENCING JANUARY 1, 2019 AND ENDING DECEMBER 31, 2019 IN LIEU OF PASSAGE OF AN APPROPRIATION ORDINANCE PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES this day of , 2018 Published in pamphlet form by authority of the corporate authorities of the Village of Mount Prospect, Illinois this day of , 2018. ORDINANCE NO. AN ORDINANCE ADOPTING AN ANNUAL BUDGET FOR THE VILLAGE OF MOUNT PROSPECT FOR THE FISCAL YEAR COMMENCING JANUARY 1, 2019 AND ENDING DECEMBER 31, 2019 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 proposed Annual Budget for the Village of Mount Prospect for the fiscal year beginning January 1, 2019 and ending December 31, 2019, 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 September 28, 2018 for public inspection, as provided by Statute; and WHEREAS, pursuant to notice duly published on October 29, 2018, a public hearing was held by the President and Board of Trustees on said tentative annual budget on November 7, 2018, as provided by Statute; and WHEREAS, following said public hearing, said proposed Annual Budget was reviewed by the President and Board of Trustees and a copy of said proposed 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, 2019 and ending December 31, 2019, 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, 2019 and ending December 31, 2019, duly certified by the Chief Fiscal Officer. 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: ABSTAIN: PASSED AND APPROVED this day of November, 2018. Arlene A. Juracek, Mayor ATTEST: Karen Agoranos, Village Clerk