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HomeMy WebLinkAboutOrd 5672 12/18/2007 ORDINANCE NO. 5672 AN ORDINANCE ADOPTING AN ANNUAL BUDGET FOR THE VILLAGE OF MOUNT PROSPECT FOR THE FISCAL YEAR COMMENCING JANUARY 1, 2008 AND ENDING DECEMBER 31,2008 IN LIEU OF PASSAGE OF AN APPROPRIATION ORDINANCE PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES the 18th day of December , 2007 Published in pamphlet form by authority of the corporate authorities of the Village of Mount Prospect, Illinois the 19t~ay of Decemb~r2007. ORDINANCE NO. 5672 AN ORDINANCE ADOPTING AN ANNUAL BUDGET FOR THE VILLAGE OF MOUNT PROSPECT FOR THE FISCAL YEAR COMMENCING JANUARY 1,2008 AND ENDING DECEMBER 31,2008 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, 2008 and ending December 31,2008, 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 5, 2007 for public inspection, as provided by Statute; and WHEREAS, pursuant to notice duly published on December 6, 2007, a public hearing was held by the President and Board of Trustees on said tentative annual budget on December 18, 2007, 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 1,2008 and ending December 31,2008, 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 1,2008 and ending December 31, 2008, 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, Juracek, Korn, Lohrstorfer, Zadel NAYS: None ABSENT: Hoefert PASSED AND APPROVED this 18th day of December ,2007. ATTEST: ?~~ M. LIsa Angell Village Clerk H :\CLKO\files\ WIN\ORDINANC\2008 Budget Ordinance. doc ~b.ItI~ Irvana K. Wilks Mayor VILLAGE OF MOUNT PROSPECT 2008 BUDGET SUMMARY TOTAL VILLAGE BUDGET 2006 2007 2007 2008 2009 Actual Budget Estimate Budget Forecast REVENUES AND OTHER SOURCES Property Taxes 13,010,983 13,374,952 13,612,676 13,873,756 14,497,500 Other Taxes 14,359,742 15,384,659 14,146,156 15,909,500 16,272,500 Licenses, Permits & Fees 3,234,467 2,954,888 3,337,529 3,283,900 3,328,100 Intergovernmental Revenue 16,632,591 16,480,809 17,158,638 18,133,476 17,820,776 Charges for Service 19,694,091 21,409,733 21,181,721 22,053,887 23,182,574 Fines and Forfeits 553,146 553,000 608,500 598,500 598,500 Investment Income 8,300,292 5,501,950 5,906,950 6,893,250 6,981,250 Reimbursements 336,763 271,240 271,000 220,000 223,000 Other Revenue 4,956,214 4,972,704 5,107,364 5,535,386 5,952,932 Interfund Transfers 548,292 Other Financing Sources 64,753 60,000 60,000 2,560,000 60,000 Village Revenues and Other Sources 81,691,334 80,963,935 81,390,534 89,061,655 88,917,132 Mount Prospect Library Revenues 7,839,781 8,572,028 8,572,028 8,645,501 (a) Total Revenues and Other Sources 89,531,115 89,535,963 89,962,562 97,707,156 88,917,132 BUDGET EXPENDITURES Village Operating Budget 50,446,008 55,421,034 56,325,011 57,272,858 58,806,614 Village Capital Budget 6,129,324 8,897,838 7,611,195 11,794,775 8,357,500 Debt Service Budget 3,971,001 4,163,928 4,179,528 4,664,639 1,905,202 Pension Systems Budget 5,037,566 5,137,624 5,246,844 5,409,150 5,539,550 Internal Services Budget (b) 7,099,580 8,150,304 8,012,243 8,324,857 9,005,234 Total Village Expenditures 72,683,479 81,770,728 81,374,821 87,466,279 83,614,100 Mount Prospect Library Budget 5,639,651 8,572,028 8,572,028 8,645,501 (a) Total Expenditures (d) 78,323,130 90,342,756 89,946,849 96,111,780 83,614,100 CHANGES IN FUND BALANCES (d) Excess (Deficiency) of Revenues & Other Sources Over Expenditures 11,207,985 (806,793) 15,713 1,595,376 5,303,032 Fund Balances Start of Budget Year 106,032,921 117,240,906 117,240,906 117,256,619 118,851,995 End of Budget Year 117,240,906 116,434,113 117,256,619 118,851,995 124,155,027 Less: Pension Fund Balances ( c ) (80,251,532) (79,207,198) (83,138,261) (87,334,511 ) (91,998,261) Available Fund Balances 36,989,374 37,226,915 34,118,358 31,517,484 32,156,766 (a) Not available as of December 18,2007. (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 2009 Forecast. VILLAGE OF MOUNT PROSPECT 2008 BUDGET SUMMARY REVENUES AND OTHER SOURCES BY REVENUE TYPE 2006 2007 2007 2008 2009 Actual Budget Estimate Budget Forecast PROPERTY TAXES 13,010,983 13,374,952 13,612,676 13,873,756 14,497,500 OTHER TAXES Home Rule Sales Tax 3,896,511 4,080,000 3,866,249 5,304,000 5,412,000 Food & Beverage Tax 755,045 775,000 775,000 798,500 822,500 Special Service Area Taxes 1,541,494 1,534,100 1,508,500 1,508,500 1,508,500 Property Tax Increment 2,093,020 2,308,359 2,224,407 2,480,000 2,670,000 Real Estate Transter Tax 1,082,498 1,331,000 800,000 785,000 800,000 Utility Taxes 4,359,595 4,818,000 4,420,000 4,474,500 4,495,500 Municipal Motor Fuel Tax 415,648 328,700 360,000 363,500 367,000 Other Taxes 215,931 209,500 192,000 195,500 197,000 14,359,742 15,384,659 14,146,156 15,909,500 16,272,500 LICENSES, PERMITS & FEES Vehicle Licenses 1,379,430 1,385,000 1,405,000 1,405,000 1,405,000 Other Licenses 346,058 341,500 361,000 355,500 355,500 Permit Fees 760,050 532,000 553,000 568,500 585,000 Franchise Fee 408,129 375,000 467,500 491,000 516,000 Other Fees 340,800 321,388 551,029 463,900 466,600 3,234,467 2,954,888 3,337,529 3,283,900 3,328,100 INTERGOVERNMENTAL REVENUE State Sales Tax 8,824,103 8,511,000 8,850,000 9,027,000 9,207,500 State Income Tax 4,606,804 4,524,000 4,900,000 5,126,000 5,255,000 State Motor Fuel Tax 1,647,423 1,587,500 1,664,000 1,664,000 1,664,000 Other State Taxes 1,068,256 1,071,500 1,138,438 1,192,000 1,226,000 Community Devl Block Grant 283,900 489,809 478,000 666,976 413,076 Other Grants 202,105 297,000 128,200 457,500 55,200 16,632,591 16,480,809 17,158,638 18,133,476 17,820,776 CHARGES FOR SERVICE Water & Sewer Charges 8,460,405 9,420,000 9,072,500 9,780,000 10,230,000 Parking Charges 191,887 198,000 190,100 190,000 190,000 Retuse Disposal Charges 2,039,084 2,211,475 2,219,000 2,278,000 2,344,500 Internal Service Fund Charges 7,815,485 8,028,25\ 8,028,251 8,075,262 8,632,399 Other Service Charges 1,187,230 1,552,007 1,671,870 1,730,625 1,785,675 19,694,091 21,409,733 21,181,721 22,053,887 23,182,574 FINES AND FORFEITS 553,146 553,000 608,500 598,500 598,500 INVESTMENT INCOME General Fund 474,141 397,000 520,500 461,000 411,000 Pension Funds 6,796,262 4,335,500 4,239,000 5,372,000 5,634,000 Other Funds 1,029,889 769,450 1,147,450 1,060,250 936,250 8,300,292 5,501,950 5,906,950 6,893,250 6,981,250 VILLAGE OF MOUNT PROSPECT 2008 BUDGET SUMMARY REVENUES AND OTHER SOURCES BY REVENUE TYPE 2006 2007 2007 2008 2009 Actual Budget Estimate Budget Forecast REIMBURSEMENTS 336,763 271,240 271,000 220,000 223,000 OTHER REVENUE Village Police & Fire Pension Contributions 2,484,717 2,677,040 2,677,040 2,970,800 3,262,800 Developer Donations 9,400 14,500 14,500 Employee & Retiree Contributions 2,113,164 2,050,064 2,126,224 2,306,086 2,486,632 Other Revenue 348,933 231,100 289,600 258,500 203,500 4,956,214 4,972,704 5,107,364 5,535,386 5,952,932 TOTAL VILLAGE REVENUES 81,078,289 80,903,935 81,330,534 86,501,655 88,857,132 INTERFUND TRANSFERS 548,292 - I OTHER FINANCING SOURCES Bond Proceeds 2,500,000 Sale of Property 64,753 60,000 60,000 60,000 60,000 64,753 60,000 60,000 2,560,000 60,000 80,963,935 81,390,534 8,572,028 8,572,028 8,645,501 (a) CHANGES IN FUND BALANCES (b) Total Revenues & Other Sources 89,531,115 89,535,963 89,962,562 97,707,156 88,917,132 Total Expenditures 78,323,130 90,342,756 89,946,849 96,111,780 83,614,100 Additions to <Use of> Fund Balances 11,207,985 (806,793) 15,713 1,595,376 5,303,032 ANALYSIS OF CHANGES IN FUND BALANCES (b) Additions to Pension Fund Balances (4,993,957) 75,870,844 76,188,223 83,698,105 83,424,082 Additions to Other Fund Balances <Use ot> Other Fund Balances 16,201,942 (76,677,637) (76,172,510) (82,102,729) (78,121,050) 11,207,985 (806,793) 15,713 1,595,376 5,303,032 (a) Figures not available as of December 18,2007. (b) Does not include the Mount Prospect Library for 2009 Forecast. VILLAGE OF MOUNT PROSPECT 2008 BUDGET SUMMARY BUDGET EXPENDITURES 2006 2007 2007 2008 2009 Actual Budget Estimate Budget Forecast VILLAGE OPERATING BUDGET PUBLIC REPRESENT A TION 116,279 128,280 130,030 131,176 133,946 VILLAGE ADMINISTRATION ViIIage Manager's Office 2,110,672 2,492,310 2,427,642 2,637,569 2,583,614 Television Services Division 174,164 178,567 174,225 183,164 192,130 Village Clerk's Office 195,420 205,188 207,575 208,499 215,688 Finance Department 1,676,813 1,726,380 1,757,821 1,652,794 1,652,143 Totals 4,157,069 4,602,445 4,567,263 4,682,026 4,643,575 COMMUNITY DEVELOPMENT Community Development 1,782,290 2,046,634 2,095,926 2,390,450 2,217,868 Community Development/CDBG 320,761 752,309 678,369 746,976 438,076 Totals 2,103,051 2,798,943 2,774,295 3,137,426 2,655,944 HUMAN SERVICES DEPARTMENT 728,017 756,007 771,180 787,447 818,594 PUBLIC SAFETY AND PROTECTION Police Department 12,485,881 13,552,976 13,495,101 14,146,913 14,724,181 Fire Department 9,961,624 10,409,062 10,404,311 10,880,023 11,451,045 Totals 22,447,505 23,962,038 23,899,412 25,026,936 26,175,226 PUBLIC WORKS DEPARTMENT Administration 1,179,043 1,259,759 1,260,981 1,239,180 1,286,224 Streets/Bldgs/Parking 2,531,375 2,758,700 3,786,557 2,832,224 2,869,809 Forestry 1,392,717 1,802,279 1,894,080 1,976,747 2,026,353 Engineering 1,297,254 1,294,207 1,302,368 1,326,046 1,588,268 Water/Sewer 9,200,273 11,675,919 11,533,719 11,636,493 11,958,302 Refuse Disposal 3,752,450 4,029,607 4,050,667 4,135,231 4,271,101 Totals ]9,353,112 22,820,471 23,828,372 23,145,921 24,000,057 COMMUNITY & CIVIC SERVICES 333,148 352,850 354,459 361,926 379,272 CONTINGENCIES & EQUITY TRANSFERS 1,207,827 50;446;008 56;325;011 57;!Z72;858 58;806,614 VILLAGE OF MOUNT PROSPECT 2008 BUDGET SUMMARY BUDGET EXPENDITURES 2006 2007 2007 2008 2009 Actual Budget Estimate Budget Forecast VILLAGE CAPITAL BUDGET Village Improvements & Equip 1,124,627 891,993 783,749 1,295,875 1,401,750 Community Improvement Projects 44,996 60,000 60,000 30,000 235,000 Downtown Redevelopment Constr 840,963 2,454,287 1,634,518 4,850,500 318,000 Flood Control Projects 299,860 244,000 94,000 515,000 510,000 Street Improvement Projects 2,819,234 3,591,698 3,514,218 3,701,000 3,632,000 Motor Equipment Replacement 857,347 1,406,810 1,284,710 1,263,900 2,069,300 Computer Replacement 142,297 249,050 240,000 138,500 191,450 Totals 6,129,324 8,897,838 7,611,195 11,794,775 8,357,500 DEBT SERVICE BUDGET Debt Service - Property Tax 1,450,359 1,685,359 1,700,959 1,296,859 1,291,848 Debt Service - Tax Increment 1,013,188 1,069,675 1,069,675 1,754,900 Debt Service - Home Rule Sales Tax 1 1,386,841 1,408,894 1,408,894 1,612,880 613,354 Debt Service - Home Rule Sales Tax 2 120,613 Totals 3,971,001 4,163,928 4,179,528 4,664,639 1,905,202 PENSION SYSTEMS BUDGET Miscellaneous Pensions 43,609 44,533 44,533 45,600 46,500 Police Pensions 2,419,352 2,465,133 2,512,546 2,580,050 2,647,050 Fire Pensions 2,574,605 2,627,958 2,689,765 2,783,500 2,846,000 Totals 5,037,566 5,137,624 5,246,844 5,409,150 5,539,550 VILLAGE INTERNAL SERVICES BUDGET Vehicle Maintenance Services 1,441 ,500 1,578,353 1,480,553 1,568,128 1,599,593 Risk Management Casualty and Property Insurance 1,621,995 1,360,353 1,306,224 1,182,700 1,277,200 Medical Insurance 4,036,085 5,211,598 5,225,466 5,574,029 6, I 28,44 I Totals 7,099,580 8,150,304 8,012,243 8,324,857 9,005,234 MOUNT PROSPECT LIBRARY BUDGET 5,639,651 8,572,028 8,572,028 8,645,50 I (a) 78,323,130 ?(i,lll,780 (a) Figures not available as of December 18, 2007. (b) Does not include the Mount Prospect Library for 2009 Forecast. VILLAGE OF MOUNT PROSPECT 2008 BUDGET SUMMARY REVENUES AND OTHER SOURCES BY FUND 2006 Actual 2007 Budget 2007 Estimate 2008 Budget 2009 Forecast GENERAL FUND 37,574,247 38,420,223 39,012,694 39,971,831 40,873,125 SPECIAL REVENUE FUNDS Refuse Disposal Fund 4,046,440 4,300,751 4,320,500 4,438,000 4,565,500 Motor Fuel Tax Fund 1,721,611 1,628,750 1,716,000 1,685,000 1,676,000 Law Enforcement Block Grant 1,000 1,050 1,000 1,000 Community Dev. Block Grnt 320,761 549,809 571,000 746,976 438,076 Asset Seizure Fund 15,039 2,600 11,000 3,000 3,000 DEA Shared Funds Fund 1,559 2,500 2,500 2,500 2,500 DUI Fine Fund 20,523 20,350 21,250 21,250 21,250 Foreign Fire Tax Board Fund 83,411 51,500 42,500 42,500 42,500 6,209,344 6,557,260 6,685,800 6,940,226 6,749,826 DEBT SERVICES FUNDS G.O. Bonds - Property Taxes 1,781,103 1,321,750 1,541,250 1,324,500 1,319,500 G.O. Bonds - Tax Increment 924,828 1,165,007 1,184,307 1,208,500 G.O. Bonds - Home Rule Sales Tax 1 1,311,741 1,367,550 1,275,999 1,331,000 1,353,000 Special Service Area Bonds 14,746 1,000 4,032,418 3,854,307 4,002,556 3,864,000 2,672,500 CAPITAL PROJECTS FUNDS Capital Improvement Fund 208,872 262,800 42,000 1,484,800 1,259,500 Downtown Redevlpmnt Const 1,278,594 1,220,052 1,158,600 3,921,500 2,720,000 Street Improve Const Fund 2,027,587 1,711,100 1,722,900 1,739,500 1,770,000 Flood Control Const Fund 36,794 32,000 25,500 10,000 3,551,847 3,225,952 2,949,000 7,155,800 5,749,500 ENTERPRISE FUNDS Water And Sewer Fund Village Parking System Fund Parking System Revenue Fund 10,250,337 101,655 113,641 10,465,633 11,149,100 96,738 111,100 11,356,938 10,867,500 103,869 100,000 11,071,369 11,576,500 144,150 156,000 11,876,650 12,027,000 144,350 156,000 12,327,350 INTERNAL SERVICE FUNDS Vehicle Maintenance Fund 1,457,170 1,573,353 1,576,453 1,568,128 1,599,593 Vehicle Replacement Fund 1,221,166 1,093,626 1,241,126 1,212,700 1,212,700 Computer Replacement Fund 188,044 189,547 197,047 191,800 207,150 Risk Management Fund 6,500,101 6,473,939 6,565,449 6,720,720 7,368,588 9,366,481 9,330,465 9,580,075 9,693,348 10,388,031 VILLAGE OF MOUNT PROSPECT 2008 BUDGET SUMMARY REVENUES AND OTHER SOURCES BY FUND 2006 2007 2007 2008 2009 Actual Budget Estimate Budget Forecast FIDUCIARY FUNDS Police Pension Fund 5,492,855 4,125,500 4,032,250 4,783,500 5,086,500 Fire Pension Fund 4,998,509 4,093,290 4,056,790 4,776,300 5,070,300 10,491,364 8,218,790 8,089,040 9,559,800 10,156,800 (a) Figures not available as of December 18, 2007. (b) Does not include the Mount Prospect Library for 2009 Forecast. VILLAGE OF MOUNT PROSPECT 2008 BUDGET SUMMARY EXPENDITURES BY FUND 2006 2007 2007 2008 2009 Actual Budget Estimate Budget Forecast GENERAL FUND 36,282,759 38,192,984 39,176,949 39,971,831 41,129,852 SPECIAL REVENUE FUNDS Refuse Disposal Fund 3,752,450 4,029,607 4,050,667 4,135,231 4,271,101 Motor Fue] Tax Fund 2,049,300 ],764,301 1,862,186 1,777,302 2,016,391 Local Law Enforcement B]ock Grant 1,000 1,000 1,000 1,000 Community Development Block Grant 320,761 752,309 678,369 746,976 438,076 Asset Seizure Fund 1,000 5,000 1,000 1,000 DEA Shared Funds Fund 5,629 1,000 1,000 1,000 1,000 DUI Fine Fund 1,957 1,000 26,000 1,500 1,500 Foreign Fire Tax Board Fund 30,877 10,473 10,500 10,500 10,500 Totals 6,160,974 6,560,690 6,634,722 6,674,509 6,740,568 DEBT SERVICE FUNDS G.O. Bonds - Property Taxes 1,450,359 1,685,359 1,700,959 1,296,859 1,291,848 G.O. Bonds - Tax Increment 1,013,188 1,069,675 1,069,675 1,754,900 G.O. Bonds - Home Ru]e Sales Tax 1 1,507,454 1,408,894 1,408,894 1,612,880 613,354 Special Service Area Bonds Totals 3,971,001 4,163,928 4,179,528 4,664,639 1,905,202 CAPITAL PROJECTS FUNDS Capital Improvement Fund 1,040,168 1,026,993 843,749 1,425,875 1,636,750 Downtown Redevelop Const Fund 841,763 2,455,187 1,635,418 4,851,450 318,955 Street Improvement Const Fund 1,365,771 2,258,907 2,241,907 2,360,000 2,372,000 Flood Control Const Fund 299,860 244,000 94,000 515,000 510,000 Totals 3,547,562 5,985,087 4,815,074 9,152,325 4,837,705 ENTERPRISE FUNDS Water and Sewer Fund Village Parking System Revenue Fund Parking System Revenue Fund Totals 9,200,273 139,303 280,170 9,619,746 11,675,919 123,154 156,448 11,955,521 11,533,719 123,154 159,148 11,816,021 11,636,493 122,269 142,164 11,900,926 11,958,302 126,241 145,617 12,230,160 INTERNAL SERVICE FUNDS Vehicle Maintenance Fund ] ,441 ,500 1,578,353 1,480,553 1,568,128 1,599,593 Vehicle Replacement Fund 857,347 1,406,810 1,284,710 1,263,900 2,069,300 Computer Replacement 142,297 249,050 240,000 138,500 191,450 Risk Management Fund 5,666,336 6,585,214 6,544,953 6,767,971 7,417,220 Totals 8,107,480 9,819,427 9,550,216 9,738,499 11,277,563 VILLAGE OF MOUNT PROSPECT 2008 BUDGET SUMMARY EXPENDITURES BY FUND 2006 Actual 2007 Budget 2007 Estimate 2008 Budget 2009 Forecast FIDUCIARY FUNDS Police Pension Fund Fire Pension Fund Totals 2,419,352 2,574,605 4,993,957 2,465,133 2,627,958 5,093,091 2,512,546 2,689,765 5,202,311 2,580,050 2,783,500 5,363,550 2,647,050 2,846,000 5,493,050 MOUNT PROSPECT LIBRARY BUDGET 5,639,651 8,572,028 8,572,028 8,645,501 (a) (a) Figures not available as of December 18,2007. (b) Does not include the Mount Prospect Library for 2009 Forecast. VILLAGE OF MOUNT PROSPECT 2008 BUDGET SUMMARY AVAILABLE FUND BALANCES 12-31-2008 Estimated Balance 1-1-08 2008 Budget Expenditures Estimated Balance 12-31-08 2008 Budget Revenues GENERAL FUND 11,642,813 39,971,831 39,971,831 11,642,813 SPECIAL REVENUE FUNDS Refuse Disposal Fund 2,250,610 4,438,000 4,135,231 2,553,379 Motor Fuel Tax Fund 391,117 1,685,000 1,777,302 298,815 Local Law Enf. Block Grant 213 1,000 1,000 213 Community Development Block Grnt (107,369) 746,976 746,976 (107,369) Asset Seizure Fund 80,769 3,000 1,000 82,769 DEA Shared Funds Fund 50,993 2,500 1,000 52,493 DUI Fine Fund 31,024 21,250 1,500 50,774 Foreign Fire Tax Board Fund 84,533 42,500 10,500 116,533 TOTAL 2,781,890 6,940,226 6,674,509 3,047,607 DEBT SERVICES FUNDS G.O. Bonds - Property Taxes 363,861 1,324,500 1,296,859 391,502 G.O. Bonds - Tax Increment 546,503 1,208,500 1,754,900 103 G.O. Bonds - Home Rule Sales Tax 1 (622,347) 1,331,000 1,612,880 (904,227) Special Service Area Bonds 17,830 17,830 TOTAL 305,847 3,864,000 4,664,639 (494,792) CAPITAL PROJECTS FUNDS Capita11mprovement Fund 123,939 1,484,800 1,425,875 182,864 Downtown Redevelop Const Fund 970,252 3,921,500 4,851,450 40,302 Street Improvement Const Fund 909,901 1,739,500 2,360,000 289,401 Flood Control Const Fund 557,897 10,000 515,000 52,897 TOTAL 2,561,989 7,155,800 9,152,325 565,464 ENTERPRISE FUNDS Water and Sewer Fund (a) 3,244,970 11,576,500 11,636,493 3,184,977 Village Parking System Fund (a) 48,194 144.150 122,269 70,075 Parking System Revenue Fund (a) (55,733) 156,000 142,164 (41,897) 36;404 TOTAL 3,237,431 11,876,650 11,900,926 3,213,155 4;014;204 (a) Estimated balances reflect cash and investment balance, not fund equity. VILLAGE OF MOUNT PROSPECT 2008 BUDGET SUMMARY AVAILABLE FUND BALANCES 12-31-2008 Recommended Estimated 2008 2008 Estimated Balance Budget Budget Balance 1-1-08 Revenues Expenditures 12-31-08 INTERNAL SERVICE FUNDS (b) Vehicle Maintenance Fund 649,146 1,568,128 1,568,128 649,146 Vehicle Replacement Fund 6,177,150 1,212,700 1,263,900 6,125,950 Computer Replacement Fund 658,732 191,800 138,500 712,032 Risk Management Fund 1,737,021 6,720,720 6,767,971 1,689,770 TOTAL 9,222,049 9,693,348 9,738,499 9,176,898 PENSION FUNDS (c) Police Pension Fund 41,604,351 4,783,500 2,580,050 43,807,801 Fire Pension Fund 41,533,910 4,776,300 2,783,500 43,526,710 TOTAL 83,138,261 9,559,800 5,363,550 87,334,511 Totals - Village Funds 112,890,280 89,061,655 87,466,279 114,485,656 Less: Pension Funds (c) (83,138,261) (9,559,800) (5,363,550) (87,334,511 ) MOUNT PROSPECT LIBRARY FUND 4,366,339 8,645,501 4,366,339 8,645,501 ~!1~2, 7Z~ (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."