HomeMy WebLinkAboutOrd 6670 03/21/2023 Making Certain Amendmrnts To The Annual Budget Adopted For The Fiscal Year Commencing January 1, 2022 And Ending December 31, 2022ORDINANCE NO. 6670
AN ORDINANCE MAKING CERTAIN AMENDMENTS TO THE ANNUAL
BUDGET ADOPTED FOR THE FISCAL YEAR COMMENCING JANUARY 1, 2022
AND ENDING DECEMBER 31, 2022
PASSED AND APPROVED BY
THE PRESIDENT AND BOARD OF TRUSTEES
the 21 st day of March 1 2023
Published in pamphlet form by
authority of the corporate authorities
of the Village of Mount Prospect, Illinois
the _ day of , 2023.
ORDINANCE NO. 6670
AN ORDINANCE MAKING CERTAIN AMENDMENTS TO THE ANNUAL
BUDGET ADOPTED FOR THE FISCAL YEAR COMMENCING JANUARY 1, 2022
AND ENDING DECEMBER 31, 2022
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
"Budget Officer System"; and
WHEREAS, pursuant to the aforesaid Ordinance and the Statutes of the State of Illinois an
annual budget for the fiscal year commencing January 1, 2022 and ending December 31,
2022 was adopted through the passage of Ordinance No. 6588 approved by the Corporate
Authorities of the Village of Mount Prospect on November 16, 2021; and
WHEREAS, the President and Board of Trustees of the Village of Mount Prospect have
passed and approved Ordinance No. 6612 on March 1, 2022, amending the annual budget
for the fiscal year commencing January 1, 2022, and ending December 31, 2022; and
WHEREAS, the President and Board of Trustees of the Village of Mount Prospect have
passed and approved Ordinance No. 6637 on June 21, 2022, amending the annual budget
for the fiscal year commencing January 1, 2022, and ending December 31, 2022; and
WHEREAS, the President and Board of Trustees of the Village of Mount Prospect have
passed and approved Ordinance No. 6647 on October 4, 2022, amending the annual budget
for the fiscal year commencing January 1, 2022, and ending December 31, 2022; 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, 2022, and ending December 31, 2022; and
WHEREAS, the President and Board of Trustees of the Village of Mount Prospect believe
the changes, as specified on the attached January 1, 2022, through December 31, 2022,
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 Number Four, 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, 2022, through December 31,
2022, 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: Filippone, Gens, Matuszak, Rogers, Saccotelli, Zadel
NAYES: None
ABSENT: None
PASSED and APPROVED this 21st day of March , 2023.
.._ _.
.......
_ ......
Paul M. oefe
Mayor
ATTEST
V� �..�......................�.
Karen Agora�os
Village Clerk
Village of Mount Prospect
Budget Amendment No. 2
Fiscal Year January 1, 2022 to December 31, 2022
Revenues
Fund/Account Number
Current
Budget
Amount
Increase/
(Decrease)
Amended
Budget
Amended Funds
7,700,000
(5,000,000)
2,700,000
001 General Fund
_
1,401,000
Amendments
9,101,000
(5,000,000)
4,101,000
001.415.002 - State Taxes State Income Tax
6,300,000
2,965,000
9,265,000
001.415.004 - State Taxes State Sales Tax
23,500,000
6,820,000
30,320,000
001.456.001- Interest Income Interest Income
10,000
572,000
582,000
001.70.00.00.0.000.449.001- Service Charge Ambulance Fee
1,900,000
1,115,000
3,015,000
Amendments Total
31,710,000
11472,000
43,182,000
Other Budgeted Accounts for the Fund
34,069,208
-
34,069,208
001 General Fund Total
65,779 208
11,472 000
77,251 208
002 Debt Service Fund
Amendments
002.00.00.00.2.578.488.001- Bond Proceeds
-
8,230,000
8,230,000
Amendments Total
2,000
8,230,000
8,230,000
Other Budgeted Accounts for the Fund .
5,407,686
_
5,407,686
002 Debt Service Fund Total
5,407,686
8,230,000
13,637,686
020 Capital Improvement Fund
Amendments
020.487.001- Transfer In from General Fund
7,700,000
(5,000,000)
2,700,000
Amendments Total
7,700,000
(5,000,000)
2,700,000
Other Budgeted Accounts for the Fund1,401,000
_
1,401,000
020 Capital Improvement Fund Total
9,101,000
(5,000,000)
4,101,000
024 Flood Control Construction Fund
Amendments
024.446.012 - Water & Sewer Storm Sewer - Base Fee
1,000,000
(1,000,000)
024.487.001- Transfer In
1,000,000
1,000,000
_._ .. �.......
Amendments Total
1,000,000
1,000,000
Other Budgeted Accounts for the Fund
514,000
514,000
024 Flood Control Construction Fund Total
1,514,000
1,514,000
044 Federal Equitable Share Funds
Amendments
044.60.61.00.0.450.453.017 - Fines and Forfeits Justice Funds Seized Assets
2,000
412,000
414,000
Amendments Total
2,000
412,000
414,000
Other Budgeted Accounts for the Fund
6,220
-
6,220
044 Federal Equitable Share Funds Total
8,220
412,000
420,220
Village of Mount Prospect
Budget Amendment No. 2
Fiscal Year January 1, 2022 to December 31, 2022
Revenues
All Other Village Budgeted Accounts
Total All Funds 154,880,092 10,064,000 164,944,092
Current
Budget
Increase/
Amended
Fund/Account Number
Amount
(Decrease)
Budget
048 Business District Fund
Amendments
048.00.00.00.0.775.415.004 - State Taxes State Sales Tax
450,000
450,000
900,000
Amendments Total
450,000
450,000
900,000
Other Budgeted Accounts for the Fund
835,500
-
835,500
048 Business District Fund Total
1,285,500
450,000
1,735,500
050 Water and Sewer Fund
Amendments
050.420.003 - Other Grants Other Grants
5,500,000
(5,500,000)
Amendments Total5,500,000
(5,500,000)
Other Budgeted Accounts for the Fund
29, 232,525
�
29,232,525.,.
_.
050 Water and Sewer Fund Total)
34,732,525
(5,500,000
29,232,525
Amended Funds Total
117,828,139
20,064x000
127,892,139
All Other Village Budgeted Accounts
Total All Funds 154,880,092 10,064,000 164,944,092
Village of Mount Prospect
Budget Amendment No. 4
Fiscal Year January 1, 2022 to December 31, 2022
Expenditures
002 Debt Service Fund
Amendments
002.00.00.00.2.578.694.044 - Payment to Escrow Agent 2022B GO Refunding
002.00.00.00.2.578.564.001- Financing Costs
Amendments Total
8,249,327 8,249,327
83,836 83,836
8,333,163 8,333,163
Other Budgeted Accounts for the Fund 6,448,292 6,448,292
002 Debt Service Fund Total 6,448,292 8,333„163 14,781,455
020 Capital Improvement Fund
Amendments
Current
020.80.90.00.0.706.645.020 - Village Hall Facility Improvements
Budget
Budget
Amended
Fund/Account Number
Amount
Amendment
Budget
Amended Funds
316,701
(170,000)
146,701
001 General Fund
37,977
(15,443)
22,533
Amendments
5,471,253
(257,722)
5,213,531
001.50.01.00.0.000.530.006 - Professional Services Other Prof. Serv.
7,620
(1,863)
5,758
001.50.52.00.0.000.665.093 - Other Equipment Medical Equipment
400
(636)
(236)
001.70.01.00.0.000.530.006 - Professional Services Other Prof. Serv.
10,000
(5,000)
5,000
001.80.90.00.0.704.674.001- Needs Study Intersection Studies
1,600,,000
(1,219,877)
380,123
Amendments Total
1,618,020
(1,227,375)
390,645
Other Budgeted Accounts for the Fund
68,866,040
-
68,866,040
001 General Fund Total
70,484,060
(1,227,375)
69,256,685
002 Debt Service Fund
Amendments
002.00.00.00.2.578.694.044 - Payment to Escrow Agent 2022B GO Refunding
002.00.00.00.2.578.564.001- Financing Costs
Amendments Total
8,249,327 8,249,327
83,836 83,836
8,333,163 8,333,163
Other Budgeted Accounts for the Fund 6,448,292 6,448,292
002 Debt Service Fund Total 6,448,292 8,333„163 14,781,455
020 Capital Improvement Fund
Amendments
020.80.90.00.0.706.645.020 - Village Hall Facility Improvements
433,000
(425,711)
7,289
020.80.90.00.1.704.636.033 - Other Expenditures Central Road Ped Crossing
745,000
(18,600)
726,400
020.80.90.00.1.705.676.008 - Streetlights & Traffic Signals Res Streetlight Improv
316,701
(170,000)
146,701
020.80.90.00.1.705.679.002 - Other Infrastructure Ped Bridge - Melas/Mead
37,977
(15,443)
22,533
020.80.90.00.1.706.649.020 - Public Works Facility Facility Imp
5,471,253
(257,722)
5,213,531
020.80.90.00.1.706.651.010 - Other Public Facilities Repl HVAC -Pub Bldgs
1,675,000
(1,441,986)
233,014
020.80.90.00.0.706.646.020 - Fire Station #12 Facility Improvements
150,000
(150,000)
-
020.80.90.00.1.703.677.005 - Flood Control Detention Pond Improv
100,000
(20,513)
79,487
Amendments Total
8,928,931
(2,499,976)
6,428,955
Other Budgeted Accounts for the Fund
2,147,588
-
2,147,588
020 Capital Improvement Fund Total
11,076,519
(2,499,976}
8,576,543
023 Street Improvement Construc Fund
Amendments
023.80.90.00.1.704.678.009 - Streets Street Reconstruction 6,864,000 (2,341,004) 4,522,996
Amendments Total 6,864,000 (2,341,004) 4,522,996
Other Budgeted Accounts for the Fund 2,009,073 - 2,009,073
023 Street Improvement Construc Fund Total 8,873,073 (2,341,004) 6,532,069
043 Asset Seizure Fund
Amendments
043.60.61.66.0.000.665.031- Other Equipment Other Equipment 3,000 5,608 8,608
Amendments Total
3,000 5,608 8,608
Other Budgeted Accounts for the Fund 4,000 - 4,000
043 Asset Seizure Fund Total 7„000 5,608 12,608
Village of Mount Prospect
Budget Amendment No. 4
Fiscal Year January 1, 2022 to December 31, 2022
Expenditures
061 Vehicle Replacement Fund
Amendments
061.60.90.00.1.708.660.003 - Motor Equipment Police Vehicles
061.70.90.00.1.708.660.005 - Motor Equipment Fire Vehicles
514,222 (51,000) 463,222
1,057,244 (205,000) 852,244
061.80.90.00.1.708.660.006 - Motor Equipment PW Vehicles 2,023,000 (629,000) 1,394,000
Amendments Total 3,594,466 (885,000) 2,709,466
Other Budgeted Accounts for the Fund -
061 Vehicle Replacement Fund Total 3,594,466 (885,000) 2,709,466
063 Risk Management Fund
Amendments
063.00.00.00.4.000.596.010 - Property & Liability Insurance Premiums IRMA Annual Cor 600,000 209,613 809,613
Amendments Total 600,000 209,613 809,613
Other Budgeted Accounts for the Fund 9,086,800 - 9,086,800
063 Risk Management Fund Total896,413
„9,686,800 _ 209,613 9,
Amended Funds Total 144,795,773 (3,661,745) 141,134,028
AIII Other Village Budgeted Accounts 17,004,195 17,004,195
Total All Funds 161,799,968 3„661,745 158,138,223
Current
Budget
Budget
Amended
Fund/Account Number
Amount
Amendment
Budget
048 Business District Fund
Amendments
048.00.00.00.0.775.691.002 - Note Interest Randhurst RDA Interest Payment
1,285,500
450,000
1,735,500
Amendments Total
1,285,500
450,000
1,735,500
048 Business District Fund Total
1,285,500
450,000
1,735,500
050 Water and Sewer Fund
Amendments
050.80.90.00.1.700.671.003 - Water Distribution Water Main Repl
4,570,173
(1,381,542)
3,188,631
050.80.90.00.1.700.671.005 - Water Distribution Deep Well Rehab
1,239,266
(292,523)
946,744
050.80.90.00.1.701.672.002 - Sewer System Lift Station Rehab
996,951
(627,455)
369,497
050.80.90.00.1.701.672.005 - Sewer System Sewer Main Repair/Replacement
1,022,000
(867,736)
154,264
050.80.90.00.1.703.672.003 - Sewer System Combined Swr Imp
800,000
(732,034)
67,966
050.80.90.00.1.702.672.001- Sewer System Basin 14 Foot Tile/OH Sewer Prog
1,950,000
(1,805,485)
144,515
Total
10,578,391
(5,706,775)
4,871,616
_Amendments
Other Budgeted Accounts for the Fund
22,761,673
22,761,673
050 Water and Sewer Fund Total
33,340,063
(5,706,775)
27,633,289
061 Vehicle Replacement Fund
Amendments
061.60.90.00.1.708.660.003 - Motor Equipment Police Vehicles
061.70.90.00.1.708.660.005 - Motor Equipment Fire Vehicles
514,222 (51,000) 463,222
1,057,244 (205,000) 852,244
061.80.90.00.1.708.660.006 - Motor Equipment PW Vehicles 2,023,000 (629,000) 1,394,000
Amendments Total 3,594,466 (885,000) 2,709,466
Other Budgeted Accounts for the Fund -
061 Vehicle Replacement Fund Total 3,594,466 (885,000) 2,709,466
063 Risk Management Fund
Amendments
063.00.00.00.4.000.596.010 - Property & Liability Insurance Premiums IRMA Annual Cor 600,000 209,613 809,613
Amendments Total 600,000 209,613 809,613
Other Budgeted Accounts for the Fund 9,086,800 - 9,086,800
063 Risk Management Fund Total896,413
„9,686,800 _ 209,613 9,
Amended Funds Total 144,795,773 (3,661,745) 141,134,028
AIII Other Village Budgeted Accounts 17,004,195 17,004,195
Total All Funds 161,799,968 3„661,745 158,138,223