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HomeMy WebLinkAboutOrd 5599 12/19/2006 ORDINANCE NO. 5599 AN ORDINANCE ADOPTING AN ANNUAL BUDGET FOR THE VILLAGE OF MOUNT PROSPECT FOR THE FISCAL YEAR COMMENCING JANUARY 1, 2007 AND ENDING DECEMBER 31,2007 IN LIEU OF PASSAGE OF AN APPROPRIATION ORDINANCE PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES the -19.tb day of December , 2006 Published in pamphlet form by authority of the corporate authorities of the Village of Mount Prospect, Illinois the ~Ottalay of Decembe~ 2006. ORDINANCE NO. 5599 AN ORDINANCE ADOPTING AN ANNUAL BUDGET FOR THE VILLAGE OF MOUNT PROSPECT FOR THE FISCAL YEAR COMMENCING JANUARY 1,2007 AND ENDING DECEMBER 31, 2007 IN LIEU OF PASSAGE OF AN APPROPRIATION ORDINANCE WHEREAS, the President and Board of Trustees ofthe 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, 2007 and ending December 31, 2007, 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 7, 2006 for public inspection, as provided by Statute; and WHEREAS, pursuant to notice duly published on December 7, 2006, a public hearing was held by the President and Board of Trustees on said tentative annual budget on December 19, 2006, 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 ACTING IN THE EXERCISE OF THEIR HOME RULE POWERS: SECTION ONE: The Annual Budget for the Village of Mount Prospect for the fiscal year beginning January 1, 2007 and ending December 31, 2007, 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 ofthis 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 1,2007 and ending December 31, 2007, 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: Corcoran, Hoefert, Korn, Lohrstorfer, Skowron, Zadel NAYS: " t:to n e ABSENT: None PASSED AND APPROVED this 19th day of December ,2006. f ~LtV~ Irvana K. Wilks Mayor ATTEST: rr&' \..{Y) -'-4d M. L sa ngell Village Clerk ~~flO VILLAGE OF MOUNT PROSPECT 2007 BUDGEt StTMMARY TOTAL VILLAGE BUDGET 2005 2006 2006 2007 2008 Actual Budget Estimate Budget Forecast REVENUES AND OTHER SOURCES Property Taxes 11,839,088 10,441,909 10,537,909 10,740,712 11,073,364 Other Taxes 14,621,028 14,566,963 15,073,743 15,384,659 15,327,371 Licenses, Permits & Fees 3,148,227 2,880,166 3,004,000 2,954,888 2,955,117 Intergovernmental Revenue 15,430,383 16,052,627 16,219,958 16,480,809 16,603,246 Charges for Service 16,597,244 20,422,428 20,225,666 21,409,733 22,468,957 Fines and Forfeits 610,451 547,200 510,000 553,000 552,100 Investment Income 7,216,999 4,211,275 5,085,400 5,501,950 5,591,300 Reimbursements 435,665 347,788 313,318 271,240 596,240 Other Revenue 4,673,038 4,762,088 4,912,894 4,972,704 5,320,194 Interfund Transfers 972,824 315,000 496,328 Other Financing Sources 2,198,954 3,860,000 60,000 60,000 60,000 Village Revenues and Other Sources 77,743,901 78,407,444 76,439,216 78,329,695 80,547,889 Mount Prospect Library Revenues 7,517,924 8,113,291 8,113,291 8,572,028 (a) Total Revenues and Other Sources 85,261,825 86,520,735 84,552,507 86,901,723 80,547,889 BUDGET EXPENDITURES Village Operating Budget 47,687,938 49,219,982 50,371,779 51,826,996 53,835,690 Village Capital Budget 4,666,948 13,044,229 7,374,859 7,366,920 9,616,110 Debt Service Budget 4,540,751 3,833,577 3,818,463 4,163,928 4,649,553 Pension Systems Budget 4,743,279 4,951,821 4,999,339 5,137,624 5,254,591 Internal Services Budget (b) 6,522,689 7,807,209 7,436,352 8,076,630 8,628,651 Total Village Expenditures 68,161,605 78,856,818 74,000,792 76,572,098 81,984,595 Mount Prospect Library Budget 7,167,072 8,113,291 8,113,291 8,572,028 (a) Total Expenditures (d) 75,328,677 86,970,109 82,114,083 85,144,126 81,984,595 CHANGES IN FUND BALANCES (d) Excess (Deficiency) of Revenues & Other Sources Over Expenditures 9,933,148 (449,374) 2,438,424 1,757,597 (1,436,706) Fund Balances Start of Budget Year 97,889,740 107,822,888 107,822,888 110,261,312 112,018,909 End of Budget Year 107,822,888 107,373,514 110,261,312 112,018,909 110,582,203 Less: Pension Fund Balances ( c) (75,375,958) (77,484,557) (77,899,754) (81,025,453) (84,506,585) Available Fund Balances 32,446,930 29,888,957 32,361,558 30,993,456 26,075,618 (a) Not available as of December 19, 2006. (b) Internal Services Budget includes Vehicle Maintenance Fund and Risk Management Fund. The Equipment Replacement Fund and Computer Replacement Fund are included in the Village Capital Budget. (c) Pension Fund Balances are reserved for pension benefits and not available for appropriation. (d) Does not include the results of operation of the Mount Prospect Library for 2008 Forecast. VILLAGE OF MOUNT PROSPECT 2007 BUDGET SUMMARY REVENUES AND OTHER SOURCES BY REVENUE TYPE 2005 Actual 2006 Budget 2006 Estimate 2007 Budget 2008 Forecast PROPERTY TAXES 11,839,088 10,441,909 10,537,909 10,740,712 11,073,364 OTHER TAXES Home Rule Sales Tax 3,770,535 3,914,197 3,944,750 4,080,000 4,201,000 Food & Beverage Tax 732,570 725,505 753,305 775,000 798,000 Special Service Area Taxes 1,562,343 1,524,100 1,564,100 1,534,100 1,534,100 Property Tax Increment 1,862,132 2,397,911 2,058,388 2,308,359 2,104,071 Real Estate Transfer Tax 1,515,403 1,075,000 1,398,000 1,331,000 1,331,000 Utility Taxes 4,770,080 4,468,900 4,818,000 4,818,000 4,818,000 Municipal Motor Fuel Tax 191,192 300,450 328,700 328,700 328,700 Other Taxes 216,773 160,900 208,500 209,500 212,500 14,621,028 14,566,963 15,073,743 15,384,659 15,327,371 LICENSES, PERMITS & FEES Vehicle Licenses 1,367,162 1,365,000 1,385,000 1,385,000 1,385,000 Other Licenses 348,847 348,000 345,500 341,500 341,500 Permit Fees 764,835 517,000 600,000 532,000 532,000 Franchise Fee 364,184 340,000 375,000 375,000 375,000 Other Fees 303,199 310,166 298,500 321,388 321,617 3,148,227 2,880,166 3,004,000 2,954,888 2,955,117 INTERGOVERNMENTAL REVENUE State Sales Tax 8,101,017 8,862,500 8,263,000 8,511,000 8,766,000 State Income Tax 4,198,734 4,000,665 4,392,500 4,524,000 4,660,000 State Motor Fuel Tax 1,667,551 1,625,115 1,603,500 1,587,500 1,587,500 Other State Taxes 952,732 950,875 1,025,720 1,071,500 1,121,000 Community Dev1 Block Grant 338,864 449,317 609,583 489,809 428,546 Other Grants 171,485 164,155 325,655 297,000 40,200 15,430,383 16,052,627 16,219,958 16,480,809 16,603,246 CHARGES FOR SERVICE Water & Sewer Charges 7,387,943 8,846,611 8,974,471 9,420,000 9,846,000 Parking Charges 197,775 202,000 198,000 198,000 198,000 Refuse Disposal Charges 1,025,803 1,058,330 1,040,350 1,192,450 1,252,450 Internal Service Fund Charges 7,300,453 7,778,405 7,779,234 8,028,251 8,575,348 Other Service Charges 685,270 2,537,082 2,233,611 2,571,032 2,597,159 16,597,244 20,422,428 20,225,666 21,409,733 22,468,957 FINES AND FORFEITS 610,451 547,200 510,000 553,000 552,100 INVESTMENT INCOME General Fund 211,172 204,700 395,800 397,000 397,000 Pension Funds 6,413,078 3,519,425 3,784,600 4,335,500 4,498,500 Other Funds 592,749 487,150 905,000 769,450 695,800 7,216,999 4,21 1,275 5,085,400 5,501,950 5,591,300 VILLAGE OF MOUNT PROSPECT 2007 BUDGET SUMMARY REVENUES AND OTHER SOURCES BY REVENUE TYPE 2005 2006 2006 2007 2008 Actual Budget Estimate Budget Forecast REIMBURSEMENTS 435,665 347,788 313,318 271,240 596,240 OTHER REVENUE Village Police & Fire Pension Contributions 2,289,574 2,448,272 2,471,875 2,677,040 2,940,463 Developer Donations 133,500 14,500 14,500 14,500 Employee & Retiree Contributions 1,853,573 2,036,391 2,166,719 2,050,064 2,148,631 Other Revenue 396,391 262,925 259,800 231,100 231,100 4,673,038 4,762,088 4,912,894 4,972,704 5,320,194 TOTAL VILLAGE REVENUES 74,572,123 74,232,444 75,882,888 78,269,695 80,487,889 INTERFUND TRANSFERS 972,824 315,000 496,328 OTHER FINANCING SOURCES Bond Proceeds 3,800,000 Sale of Property 2,198,954 60,000 60,000 60,000 60,000 2,198,954 3,860,000 60,000 60,000 60,000 MOUNT PROSPECT LIBRARY REVENUES 7,517,924 8,113,291 8,113,291 8,572,028 (a) CHANGES IN FUND BALANCES (b) Total Revenues & Other Sources 85,261,825 86,520,735 84,552,507 86,901,723 80,547,889 Total Expenditures 76,918,175 86,970,109 82,114,083 85,144,126 81,984,595 Additions to <Use of> Fund Balances 8,343,650 (449,374) 2,438,424 1,757,597 (1,436,706) ANALYSIS OF CHANGES IN FUND BALANCES (b) Additions to Pension Fund Balances 5,089,746 2,164,208 2,523,796 3,125,699 3,481,132 Additions to Other Fund Balances <Use of> Other Fund Balances 3,253,904 (2,613,582) (85,372) (1,368,102) (4,917,838) 8,343,650 (449,374) 2,438,424 1,757,597 (1,436,706) (a) Figures not available as of December 19,2006. (b) Does not include the Mount Prospect Library. VILLAGE OF MOUNT PROSPECT 2007 BUDGETSVMMARY BUDGET EXPENDITURES 2005 2006 2006 2007 2008 Actual Budget Estimate Budget Forecast VILLAGE OPERATING BUDGET PUBLIC REPRESENTATION 114,467 1 18,893 122,498 128,280 131,991 VILLAGE ADMINISTRATION Village Manager's Office 1,888,175 2,049,512 2,178,494 2,490,110 2,479,090 Television Services Division 206,928 169,351 172,995 178,567 189,014 Village Clerk's Office 169,128 203,826 197,988 200,188 210,680 Finance Department 1,553,971 1,636,761 1,680,603 1,726,380 1,792,259 Totals 3,818,202 4,059,450 4,230,080 4,595,245 4,671,043 COMMUNITY DEVELOPMENT Community Development 1,624,977 1,805,531 1,826,054 2,046,634 2,126,412 Community Deve10pment/CDBG 505,949 691,200 659,683 527,309 458,546 Totals 2,130,926 2,496,731 2,485,737 2,573,943 2,584,958 HUMAN SERVICES DEPARTMENT 690,087 733,561 747,302 756,007 795,734 PUBLIC SAFETY AND PROTECTION Police Department 11,594,501 11,532,928 11,494,747 12,220,226 12,756,154 Fire Department 9,383,708 8,722,426 8,713,383 9,085,329 9,581,668 Totals 20,978,209 20,255,354 20,208,130 21,305,555 22,337,822 PUBLIC WORKS DEPARTMENT Administration 1,083,784 1,184,708 1,190,652 1,259,759 1,262,587 StreetslBldgslParking 2,639,515 2,608,383 2,639,939 2,728,700 2,962,794 Forestry 1,413,905 1,553,262 1,563,573 1,671,212 1,772,631 Engineering 1,019,886 1,365,962 1,383,070 1,294,207 1,397,651 Water/Sewer 9,007,000 10,229,607 10,236,608 11,131,631 11,362,492 Refuse Disposal 3,534,906 3,960,243 4,011,835 4,029,607 4,195,608 Totals 18,698,996 20,902,165 21,025,677 22,115,116 22,953,763 COMMUNITY & CIVIC SERVICES 284,227 338,828 344,528 352,850 360,379 CONTINGENCIES & EQUITY TRANSFERS 972,824 315,000 1,207,827 VILLAGE OF MOUNT PROSPECT 2007 BUDGET SUMMARY BUDGET EXPENDITURES 2005 2006 2006 2007 2008 Actual Budget Estimate Budget Forecast VILLAGE CAPITAL BUDGET Village Improvements & Equip 290,159 1,548,955 1,463,497 653,000 1,202,700 Community Improvement Projects 67,963 113,401 83,401 10,000 488,000 Downtown Redevelopment Constr 378,448 6,045,926 1,240,199 1,880,300 1,491,450 Flood Control Projects 186,334 527,538 353,053 244,000 700,000 Street Improvement Projects 2,624,265 3,614,929 3,084,929 3,369,100 4,578,560 Motor Equipment Replacement 935,933 1,030,680 986,980 961,470 1,014,200 Computer Replacement 183,846 162,800 162,800 249,050 141,200 Totals 4,666,948 13,044,229 7,374,859 7,366,920 9,616,110 DEBT SERVICE BUDGET Debt Service - Property Tax 1,979,110 1,450,361 1,435,247 1,685,359 1,280,773 Debt Service - Tax Increment 1,096,145 996,675 996,675 1,069,675 1,754,900 Debt Service - Home Rule Sales Tax 1 1,427,696 1,386,541 1,386,541 1,408,894 1,613,880 Debt Service - Special Service Area 37,800 Totals 4,540,751 3,833,577 3,818,463 4,163,928 4,649,553 PENSION SYSTEMS BUDGET Miscellaneous Pensions 50,463 55,609 43,609 44,533 45,460 Police Pensions 2,305,508 2,375,461 2,410,233 2,465,133 2,523,753 Fire Pensions 2,387,308 2,520,751 2,545,497 2,627,958 2,685,378 Totals 4,743,279 4,951,821 4,999,339 5,137,624 5,254,591 VILLAGE INTERNAL SERVICES BUDGET Vehicle Maintenance Services 1,305,190 1,450,029 1,453,496 1,573,353 1,673,551 Risk Management Casualty and Property Insurance 937,227 1,325,485 951,161 1,360,353 1,380,242 Medical Insurance 4,280,272 5,031,695 5,031,695 5,142,924 5,574,858 Totals 6,522,689 7,807,209 7,436,352 8,076,630 8,628,651 MOUNT PROSPECT LIBRARY BUDGET 7,167,072 8,113,291 8,113,291 8,572,028 (a) (a) Figures not available as of December 19,2006. (b) Does not include the Mount Prospect Library for 2008 Forecast. VILLAGE OF MOUNT PROSPECT 2007 BUDGET SUMMARY REVENUES AND OTHER SOURCES BY FUND 2005 Actual 2006 Budget 2006 Estimate 2007 Budget 2008 Forecast GENERAL FUND 35,918,259 34,161,176 34,729,890 35,785,983 36,577,923 SPECIAL REVENUE FUNDS Refuse Disposal Fund 3,325,990 4,033,827 4,077,847 4,300,751 4,419,740 Motor Fuel Tax Fund 1,741,319 1,639,215 1,651,250 1,628,750 1,946,250 Law Enforcement Block Grant 769 1,000 1,030 1,000 1,000 Community Dev. Block Grnt 505,948 499,317 659,683 549,809 488,546 Asset Seizure Fund 10,125 1,100 10,750 2,600 1,700 DEA Shared Funds Fund 1,549 2,500 2,500 2,500 2,500 DUI Fine Fund 20,642 23,300 20,450 20,350 20,350 Foreign Fire Tax Board Fund 89,402 51,500 55,500 5,606,342 6,200,259 6,512,912 6,557,260 6,935,586 DEBT SERVICES FUNDS G.O. Bonds - Property Taxes 2,160,882 1,726,105 1,745,105 1,321,750 1,320,100 G.O. Bonds - Tax Increment 1,086,922 1,046,250 1,057,400 1,165,007 1,151,000 G.O. Bonds - Home Rule Sales Tax 1 1,267,436 1,311,897 1,327,750 1,367,550 1,401,300 G.O. Bonds - Home Rule Sales Tax 2 370,240 Special Service Area Bonds 29,141 15,350 4,914,621""' 4,084,252 4,145,605 3,854,307 3,872,400 CAPITAL PROJECTS FUNDS Capital Improvement Fund 346,567 52,626 207,626 262,800 Downtown Redev1pmnt Const 1,902,053 5,167,911 1,100,401 1,220,052 1,004,071 Street Improve Const Fund 1,526,745 1,769,955 1,924,868 1,711,100 1,739,900 Flood Control Const Fund 29,966 27,250 42,000 32,000 3,805,331 7,017,742 3,274,895 3,225,952 2,743,971 ENTERPRISE FUNDS Water And Sewer Fund Village Parking System Fund Parking System Revenue Fund 9,092,687 106,845 106,086 9,305,618 10,512,211 102,756 238,455 10,853,422 10,709,571 95,740 240,805 11,046,116 11,149,100 96,738 111,100 11,356,938 11,576,600 96,967 111,100 11,784,667 INTERNAL SERVICE FUNDS Vehicle Maintenance Fund 1,313 ,248 1,450,058 1,455,258 1,573,353 1,697,114 Vehicle Replacement Fund 1,039,279 1,083,413 1,189,383 1,093,626 1,093,626 Computer Replacement Fund 168,250 180,020 194,949 189,547 190,477 Risk Management Fund 5,887,051 6,316,682 6,410,682 6,473,939 6,961,862 8,407,828 9,030,173 9,250,272 9,330,465 9,943,079 VILLAGE OF MOUNT PROSPECT 2007 BUDGET SUMMARY REVENUES AND OTHER SOURCES BY FUND 2005 2006 2006 2007 2008 Actual Budget Estimate Budget Forecast FIDUCIARY FUNDS Police Pension Fund 4,968,994 3,654,043 3,976,051 4,125,500 4,361,824 Fire Pension Fund 4,813,568 3,406,377 3,503,475 4,093,290 4,328,439 Series 2002 Library Bond 3,340 9,785,902 7,060,420 7,479,526 8,218,790 8,690,263 MOUNT PROSPECT LIBRARY FUND 7,517,924 8,113,291 8,113,291 8,572,028 (a) (a) Figures not available as of December 19,2006. (b) Does not include the Mount Prospect Library. VILLAGE OF MOUNT PROSPECT 2007 BUDGET SUMMARY EXPENDITURES BY FUND 2005 2006 2006 2007 2008 Actual Budget Estimate Budget Forecast GENERAL FUND 33,650,878 33,445,888 34,550,926 35,371,051 36,951,284 SPECIAL REVENUE FUNDS Refuse Disposal Fund 3,534,906 3,960,243 4,011,835 4,029,607 4,195,608 Motor Fuel Tax Fund 1,920,890 2,538,717 2,138,717 1,729,610 2,179,086 Local Law Enforcement Block Grant 769 1,000 1,000 1,000 1,000 Community Development Block Grant 505,949 691,200 659,683 527,309 458,546 Asset Seizure Fund 1,100 1,000 1,000 1,000 DEA Shared Funds Fund 30,420 2,500 5,629 1,000 1,000 Dm Fine Fund 26,199 1,000 1,500 1,000 1,000 Foreign Fire Tax Board Fund 3,130 10,000 10,000 Totals 6,019,133 7,195,760 6,822,494 6,300,526 6,847,240 DEBT SERVICE FUNDS G.O. Bonds - Property Taxes 1,979,110 1,450,361 1,435,247 1,685,359 1,280,773 G.O. Bonds - Tax Increment 1,096,145 996,675 996,675 1,069,675 1,754,900 G.O. Bonds - Home Rule Sales Tax 1 1,427,696 1,386,541 1,386,541 1,408,894 1,613,880 Special Service Area Bonds 37,800 Totals 4,540,751 3,833,577 3,818,463 4,163,928 4,649,553 CAPITAL PROJECTS FUNDS Capital Improvement Fund 358,122 1,658,901 1,417,443 738,000 2,440,700 Downtown Redevelop Const Fund 380,048 6,046,726 1,241,049 1,881,200 1,492,400 Street Improvement Const Fund 1,301,756 1,597,657 1,593,657 2,071,000 2,187,560 Flood Control Const Fund 186,334 527,538 353,053 244,000 700,000 Totals 2,226,260 9,830,822 4,605,202 4,934,200 6,820,660 ENTERPRISE FUNDS Water and Sewer Fund Village Parking System Revenue Fund Parking System Revenue Fund Totals 9,007,000 210,324 159,502 9,376,826 10,229,607 152,798 260,865 10,643,270 10,236,608 153,313 261,324 10,651,245 1I,131,631 123,154 156,448 11,411,233 11,362,492 203,332 145,610 11,711,434 INTERNAL SERVICE FUNDS Vehicle Maintenance Fund 1,305,190 1,450,029 1,453,496 1,573,353 1,673,551 Vehicle Replacement Fund 935,933 1,030,680 986,980 961,470 1,014,200 Computer Replacement 183,846 162,800 162,800 249,050 141,200 Risk Management Fund 5,229,972 6,367,780 5,993,456 6,514,196 6,966,342 Totals 7,654,941 9,011,289 8,596,732 9,298,069 9,795,293 VILLAGE OF MOUNT PROSPECT 2007 BUDGET SUMMARY EXPENDITURES BY FUND 2005 Actual 2006 Budget 2006 Estimate 2007 Budget 2008 Forecast FIDUCIARY FUNDS Police Pension Fund Fire Pension Fund Totals 2,305,508 2,387,308 4,692,816 2,375,461 2,520,751 4,896,212 2,410,233 2,545,497 4,955,730 2,465,133 2,627,958 5,093,091 2,523,753 2,685,378 5,209,131 MOUNT PROSPECT LIBRARY BUDGET 7,167,072 8,113,291 8,113,291 8,572,028 (a) (a) Figures not available as of December 19, 2006. (b) Does not include the Mount Prospect Library for 2008 Forecast. VILLAGE OF MOUNT PROSPECT 2007 BUDGET SUMMARY AVAILABLE FUND BALANCES 12-31-2007 Estimated Balance 12-31-06 2007 Budget Revenues 2007 Budget Ex enditures Estimated Balance 12-31-07 GENERAL FUND 10,695,341 35,785,983 35,371,051 11,110,273 SPECIAL REVENUE FUNDS Refuse Disposal Fund 1,752,796 4,300,751 4,029,607 2,023,940 Motor Fuel Tax Fund 377,528 1,628,750 1,729,610 276,668 Local Law Enf. Block Grant 193 1,000 1,000 193 Community Development Block Gmt 549,809 527,309 22,500 Asset Seizure Fund 69,481 2,600 1,000 71,081 DEA Shared Funds Fund 50,434 2,500 1,000 51,934 DUI Fine Fund 36,158 20,350 1,000 55,508 Foreign Fire Tax Board Fund 86,272 51,500 10,000 127,772 TOTAL 2,372,862 6,557,260 6,300,526 2,629,596 DEBT SERVICES FUNDS G.O. Bonds - Property Taxes 502,682 1,321,750 1,685,359 139,073 G.O. Bonds - Tax Increment 580,956 1,165,007 1,069,675 676,288 G.O. Bonds - Home Rule Sales Tax 1 (473,142) 1,367,550 1,408,894 (514,486) Special Service Area Bonds 17,435 17,435 TOTAL 627,931 3,854,307 4,163,928 318,310 CAPITAL PROJECTS FUNDS Capital Improvement Fund 547,169 262,800 738,000 71,969 Downtown Redevelop Const Fund 869,591 1,220,052 1,881,200 208,443 Street Improvement Const Fund 1,218,916 1,711,100 2,071,000 859,016 Flood Control Const Fund 578,409 32,000 244,000 366,409 TOTAL 3,214,085 3,225,952 4,934,200 1,505,837 ENTERPRISE FUNDS Water and Sewer Fund (a) 4,082,840 11,149,100 11,131,631 4,100,309 Village Parking System Fund (a) 162,013 96,738 123,154 135,597 Parking System Revenue Fund (a) 17,767 111,100 156,448 (27,581) TOTAL 4,262,620 11,356,938 11,411,233 4,208,325 (a) Estimated balances reflect cash and investment balance, not fund equity. VILLAGE OF MOUNT PROSPECT 2007 BUDGET SUMMARY AVAILABLE FUND BALANCES 12-31-2007 Estimated 2007 2007 Estimated Balance Budget Budget Balance 12-31-06 Revenues Ex enditures 12-31-07 INTERNAL SERVICE FUNDS (b) Vehicle Maintenance Fund 526,187 1,573,353 1,573,353 526,187 ~ Vehicle Replacement Fund 5,630,017 1,093,626 961,470 5,762,173 ~ Computer Replacement Fund 688,088 189,547 249,050 628,585 Risk Management Fund 1,299,983 6,473,939 6,514,196 1,259,726 TOTAL 8,144,275 9,330,465 9,298,069 8,176,671 PENSION FUNDS (c) Police Pension Fund 38,850,354 4,125,500 2,465,133 Fire Pension Fund 39,049,400 4,093,290 2,627,958 TOTAL 77,899,754 8,218,790 5,093,091 Totals - Village Funds 107,216,868 78,329,695 76,572,098 108,974,465 Less: Pension Funds (c) (77,899,754) (8,218,790) (5,093,091) (81,025,453) (b) Estimated balances for Internal Service Funds reflect unrestricted net assets only. (c) Pension Funds are restricted for future pension benefits and do not constitute "Available Fund Balances."