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Home My WebLink AboutOrd 6671 03/22/2023 Making Certain Amendments To The Annual Budget Adopted For The Fiscal Year Commencing January 1. 2023 and Ending December 31, 2023ORDINANCE NO. 6671 AN ORDINANCE MAKING CERTAIN AMENDMENTS TO THE ANNUAL BUDGET ADOPTED FOR THE FISCAL YEAR COMMENCING JANUARY 1, 2023 AND ENDING DECEMBER 31, 2023 PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES the 21st day of March , 2023 Published in pamphlet form by authority of the corporate authorities of the Village of Mount Prospect, Illinois the 22nd day of March , 2023. ORDINANCE NO. 6671 AN ORDINANCE MAKING CERTAIN AMENDMENTS TO THE ANNUAL BUDGET ADOPTED FOR THE FISCAL YEAR COMMENCING JANUARY 1, 2023 AND ENDING DECEMBER 31, 2023 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, 2023, and ending December 31, 2023 was adopted through the passage of Ordinance No. 6649 approved by the Corporate Authorities of the Village of Mount Prospect on November 01, 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, 2023, and ending December 31, 2023; and WHEREAS, the President and Board of Trustees of the Village of Mount Prospect believe the changes, as specified on the attached January 1, 2023, through December 31, 2023, 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, 2023, through December 31, 2023, 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: Filippone, Gens, Matuszak, Rogers, Saccotelli, Zadel NAPES: None ABSENT: None PASSED and APPROVED this 22nd day of March 9 2021 Paul Wm. 14, el"ert Mayor ATTEST � a Karen Agora os Village Clerk Village of Mount Prospect Budget Amendment No. 1 Fiscal Year January 1, 2023 to December 31, 2023 Expenditures 023 Street Improvement Construc Fund Amendments 023.80.90.00.1.704.678.009 - Streets Street Reconstruction 2,341,004 2,341,004 ....... Amendments Total - 2,341,004 2,341,004 Other Budgeted Accounts for the Fund 3,490,000 3,490,000 023 Street Improvement Construc Fund Total Current 2,341,004 5,831,004 050 Water and Sewer Fund Budget Budget Amended Fund/Account Number Amount Amendment Budget Amended Funds 4,500,000 1,381,542 5,881,542 001, General Fund 535,000 292,523 827,523 Amendments 680,000 627,455 1,307,455 001.50.01.00.0.000.530.006 - Professional Services Other Prof. Serv. 7,350 1,863 9,213 001.50.52.00.0.000.665.093 - Other Equipment Medical Equipment 700 636 1,336 001.60.61.65.0.000.500.001- Full -Time Earnings Full -Time Earnings 7,712,014 211,850 7,923,864 001.60.61.65.0.000.510.001- Group Insurance Medical Insurance 1,210,868 54,000 1,264,868 001.60.61.65.0.000.511.002 - Social Security Contributions Medicare 120,861 3,072 123,933 001.70.01.00.0.000.530.006 - Professional Services Other Prof. Serv. 5,000 5,000 10,000 001.80.90.00.0.704.674.001- Needs Study Intersection Studies 915,000 1,219,877 2,134,877 Amendments Total9,971,793 1,496,297 11,468,090 ... Other Budgeted Accounts for the Fund 66,531,360 - 66,531,360 001 General Fund Total 76,503,153 1,496,297 77,999,450 020 Capital Improvement Fund Amendments 020.80.90.00.0.706.645.020 - Village Hall Facility Improvements 185,000 425,711 610,711 020.80.90.00.0.706.646.020 - Fire Station #12 Facility Improvements 150,000 150,000 020.80.90.00.1.703.677.005 - Flood Control Detention Pond Improv 1,085,000 20,513 1,105,513 020.80.90.00.1.704.636.033 - Other Expenditures Central Road Ped Crossing 781,000 18,600 799,600 020.80.90.00.1.705.676.008 - Streetlights & Traffic Signals Res Streetlight Improv 225,000 170,000 395,000 020.80.90.00.1.705.679.002 - Other Infrastructure Ped Bridge - Melas/Mead 15,443 15,443 020.80.90.00.1.706.649.020 - Public Works Facility Facility Imp 200,000 257,722 457,722 020.80.90.00.1.706.651.010 - Other Public Facilities Repl HVAC -Pub Bldgs 82,500 1,441,986 1,524,486 . ...... Amendments Total 2,558,500 2,499,976 5,058,476 Other Budgeted Accounts for the Fund 1,330,331 - 1,330,331 020 Capital Impro11 vement Fund Total 3,888,831 2,499,976 6,388,807 023 Street Improvement Construc Fund Amendments 023.80.90.00.1.704.678.009 - Streets Street Reconstruction 2,341,004 2,341,004 ....... Amendments Total - 2,341,004 2,341,004 Other Budgeted Accounts for the Fund 3,490,000 3,490,000 023 Street Improvement Construc Fund Total 3,490,000 2,341,004 5,831,004 050 Water and Sewer Fund Amendments 050.80.90.00.1.700.671.003 - Water Distribution Water Main Repl 4,500,000 1,381,542 5,881,542 050.80.90.00.1.700.671.005 - Water Distribution Deep Well Rehab 535,000 292,523 827,523 050.80.90.00.1.701.672.002 - Sewer System Lift Station Rehab 680,000 627,455 1,307,455 050.80.90.00.1.701.672.005 - Sewer System Sewer Main Repair/Replacement 1,000,000 867,736 1,867,736 050.80.90.00.1.702.672.001- Sewer System Basin 14 Foot Tile/OH Sewer Prog 410,000 1,805,485 2,215,485 Village of Mount Prospect Budget Amendment No. 1 Fiscal Year January 1, 2023 to December 31, 2023 Expenditures Current Budget Budget Amended Fund/Account Number Amount Amendment Budget 050.80.90.00.1.703.672.003 -Sewer System Combined Swr Imp 800,000 732,034 1,532,034 Amendments Total7,925,000 5,706,775 13,631,775 IT —� �.__....... Other Budgeted Accounts for the Fund 21,548,135 21,548,135 ........ 050 Water and Sewer Fund Total 29,473,135 5,706,775 35,179,910 061 Vehicle Replacement Fund Amendments 061.60.90.00.1.708.660.003 - Motor Equipment Police Vehicles 464,000 51,000 515,000 061.70.90.00.1.708.660.005 - Motor Equipment Fire Vehicles 42,000 205,000 247,000 061.80.90.00.1.708.660.006 - Motor Equipment PW Vehicles 761,000 629,000 1,390,000 Amendments Total 1,267,000 885,000 2,152,000 Other Budgeted Accounts for the Fund 28,000 28,000 061 Vehicle Replacement Fund Total 1,295,000 885,000 2,180,000 Amended Funds Total 114,650,119 12,929,051 127,579,170 All Other Village Budgeted Accounts 33,550,935 33,550,935 Total All Funds 148,201,054 12,929,051 161,130,105