HomeMy WebLinkAbout8.2 Waive the Rules Requiring Two Reading of an Ordinance and Adopt AN ORDINANCE MAKING CERTAIN AMENDMENTS TO THE ANNUAL BUDGET ADOPTED FOR THE FISCAL YEAR COMMENCING JANUARY 1, 2022 AND ENDING DECEMBER 31, 2022Mr�GauC �'d'+rt;�iect
Subject Waive the Rules Requiring Two Reading of an
Ordinance and Adopt AN ORDINANCE MAKING
CERTAIN AMENDMENTS
ADOPTED FO. THE FISCAL n
JANUARY 1, 2022
2022
Meeting March 21, 2023A' MEETING OF •
PROSPECT : •
Fiscal Impact
Dollar Amount
Budget Source
Category NEW BUSINESS
Type Ordinance
The Village's 2022 annual budget was approved in November 2021. The budget
was revised three times during the year 2022 as needed. Staff is hereby
proposing the final budget amendment for the year 2022, and the budget
amendments are summarized below:
1. Carryover items from the year 2022 to 2023
The Village is proposing to carry forward $12,660,129 in various Capital
Improvement Funds from 2022 to 2023. The amount represents the approved
budget amount for various capital projects and CIP items, which started in FY
2022, but have not been completed due to various reasons, including supply chain
and timing issues.
1
The proposed budget amendment will reduce the FY 2022 budget by $12,660,129
and will increase the FY 2023 budget by the exact same amount. This budget
amendment is a housekeeping item, and staff recommends approval of the same.
A detailed listing of projects and CIP items is attached herewith as Exhibit - A.
This budget amendment was discussed with the Finance Commission, and it was
recommended unanimously.
2. Final Amendment for FY 2022
The second part of the proposed amendment represents a true -up of our 2022
annual budget. The budget amendment details are discussed below:
1. Genera/ Fund - The Village collected $9,265,000 in income tax revenues
against the budgeted amount of $6,300,000, which has resulted in a surplus of
$2,965,000. The Village collected sales tax totaling $30,320,000 against the
budgeted amount of $23,500,000, which has resulted in a surplus of $6,820,000.
Due to the higher interest rates, the Village collected an additional investment
income of $572,000. Due to the Ground Emergency Management Transport
2
Current
Budget
Carryover
Amended
Amount
Budget
001 General Fund
70,484,060
(1,227,375)
69,256,685
020 Capital Improvement Fund
11,076,519
(2,499,976)
8,576,543
023 Street Improvement
Construction Fund
8,873,073
(2,341,004)
6,532,069
050 Water and Sewer Fund
33,340,063
(5,706,775)
27,633,289
061 Vehicle Replacement Fund
3,594,466
(885,000)
21709,466
Total
143,510,273
(12,660,129)
130,850,144
The proposed budget amendment will reduce the FY 2022 budget by $12,660,129
and will increase the FY 2023 budget by the exact same amount. This budget
amendment is a housekeeping item, and staff recommends approval of the same.
A detailed listing of projects and CIP items is attached herewith as Exhibit - A.
This budget amendment was discussed with the Finance Commission, and it was
recommended unanimously.
2. Final Amendment for FY 2022
The second part of the proposed amendment represents a true -up of our 2022
annual budget. The budget amendment details are discussed below:
1. Genera/ Fund - The Village collected $9,265,000 in income tax revenues
against the budgeted amount of $6,300,000, which has resulted in a surplus of
$2,965,000. The Village collected sales tax totaling $30,320,000 against the
budgeted amount of $23,500,000, which has resulted in a surplus of $6,820,000.
Due to the higher interest rates, the Village collected an additional investment
income of $572,000. Due to the Ground Emergency Management Transport
2
(GEMT) program, the Village collected an additional $1,115,000 in ambulance
billing fees income. All of these surpluses are recognized herewith in the presented
budget amendment.
2. Debt Service Fund - During the year 2022, the Village refunded 2013 Series
Bonds, originally issued in FY 2013. The bond refunding allowed the Village to
capture interest savings totaling $450,000. These bonds were originally not
budgeted. Also, the advance refunding was approved in May due to the risk of
increasing interest rates, while the call date for the original bond was December 1.
Per the Security Exchange Commission rules, bonds can only be refunded within
90 days from the call date. The refunding bonds were issued in September 2022.
The original budget did not include bond refinancing costs, and the same is being
recognized in the budget amendment herewith. Along with that, it is an
accounting requirement where the Village needs to recognize newly issued bonds
as revenue for the year, and the bonds paid off will be shown as an expense for
the year. Neither the revenue nor the expense pertaining to this transaction was
in the original budget. The budget amendment presented herewith includes an
increase in the revenue budget by $8,230,000 (recognizing bond proceeds).
2. Capital Improvement Fund - The original budget included $5,000,000 as an
inter -fund transfer from the General Fund as an allocation from the American
Rescue Plan. The American Rescue Plan allocation was revised during the year
2022, and the allocation now includes an emergency water interconnect project
for the same amount. Hence, the original transfer of $5,000,000 is removed from
the Capital Improvement Fund's revenue budget.
3. Flood Control Construction Fund - The original 2022 budget included $1.0
million in a new storm sewer fee to be collected from the water/sewer customers.
Due to the excellent sales tax collection, the Village decided not to impose the
new fee. Instead, a $1.0 million in sales tax was allocated from the General Fund
(as an inter -fund transfer). The presented amendment is reducing the storm
sewer fee line by $1.0 million and recognizes $1.0 million in the inter -fund
transfers.
4. Federal Equitable Share Fund - The Village participated in a Federal Drug
Enforcement program and has received an allocation of $414,000 from the
forfeiture of the seized assets. This is a one-time allocation, and the Village is not
expected to receive the same in the future. The presented amendment recognizes
the additional amount received $412,000 ($2,000 was the original budget revenue
amount).
KI
5. Business District Fund - The Business District Fund accounts for the amount
received and payable to Randhurst Village Debt Note. Due to an excellent sales
tax performance, the amount received as revenue and to be shared with the
Noteholder are both higher than the originally budgeted. This is an escrow -type
fund where revenues are equal to expenditures. With the amendment, revenues
and expenditures are both increased by $450,000. With the proposed amendment,
the total revenue budget will increase from $1,285,500 to $1,735,500.
6. Water/Sewer Fund - The Village has budgeted $5.5 million in grants for the
emergency water interconnect project. The Village has not received any such
grants, and the budget amendment presented herewith reduced the grant income
budget for the same. Now the project is funded with an allocation from the
American Rescue Plan, and the Village is expected to complete the major part of
the project in FY 2023.
All of the above amendments collectively increase the revenue budget for the year
2022 from $154,130,092 to $155,964,092 and show a net increase of
$1,834,000.
4
Current
Increase/
Amended
Fund Info.
Budget
Decrease)
Budget
Amount
Amended Funds
001 General Fund
65,779,208
11,472,000
7712511208
002 Debt Service Fund
5,407,686
8,230,000
13,637,686
020 Capital Improvement Fund
9,101,000
(5,000,000)
4,1011000
024 Flood Control Construction
1,514,000
1,514,000
Fund
-
044 Federal Equitable Share Funds
8,220
412,000
420,220
048 Business District Fund
11285,000
450,000
11735,500
050 Water and Sewer Fund
341732,525
(5,500,000)
29,232,525
Amended Funds Total
117,828,139
10,064,000
127,892,139
All Other Village Budgeted Accounts
36,301,953
36,301,953
4
Total All Funds
154,1301092
10,064,000
164,1941092
1. Debt Service Fund - During the year 2022, the Village refunded 2013 Series
Bonds, originally issued in FY 2013. The bond refunding allowed the Village to
capture interest savings totaling $450,000. These bonds were originally not
budgeted. Also, the advance refunding was approved in May due to the risk of
increasing interest rates, while the call date for the original bond was December 1.
Per the Security Exchange Commission rules, bonds can only be refunded within
90 days from the call date. The refunding bonds were issued in September 2022.
The original budget did not include bond refinancing costs, and the same is being
recognized in the budget amendment herewith. Along with that, it is an
accounting requirement where the Village needs to recognize newly issued bonds
as revenue for the year, and the bonds paid off will be shown as an expense for
the year. Neither the revenue nor the expense pertaining to this transaction was
in the original budget. The budget amendment presented herewith includes an
increase in the revenue budget by $8,230,000 and an increase in the expenditure
budget by $8,249,328 for this transaction.
2. Asset Seizure Fund - The Asset Seizure Fund has collected an additional
$412,000 in Federal allocation, while the Village has incurred an additional $5,608
in other equipment for the Police Department. The presented budget amendment
increases the Other Equipment budget line from $3,000 to $8,608.
3. Business District Fund - The Business District Fund accounts for the amount
received and payable to Randhurst Village Debt Note. Due to an excellent sales
tax performance, the amount received as revenue and to be shared with the
Noteholder are both higher than the originally budgeted. This is an escrow -type
fund where revenues are equal to expenditures. With the amendment, revenues
and expenditures are both increased by $450,000. With the proposed amendment,
the total expenditure budget will increase from $1,285,500 to $1,735,500.
4. Risk Management Fund - The Risk Management Fund is an internal service
fund collecting internal service charges for health insurance, general liabilities,
worker's comp, and other risk management premium items and paid the same to
5
various service providers and agencies. The Village collected enough revenues
from all the Village departments for these services, but the expenditure line was
under budget by $209,613 for property and liability insurance services. The
presented budget amendment is a housekeeping item and increases the
expenditure budget by $209,613.
The Carryover budget items are reducing the 2022 budget by $12,660,129, and
the above-mentioned items are increasing the 2022 budget by $8,998,384.
Together, the presented amendments are reducing the 2022 budget by
$3,661,745, and the final budget will rest at $158,138,223.
For the most part, the above -presented revenue and expenditure amendments are
11
Current
Budget
Amended
Fund Info.
Budget
Amendment
Budget
Amount
Amended Funds
001 General Fund
70,484,060
(1,227,375)
69,256,685
002 Debt Service Fund
6,448,292
8,333,163
1417811455
020 Capital Improvement Fund
11,076,519
(2,499,976)
8,576,543
023 Street Improvement
8,873,073
6,532,069
Construction Fund
(2,341,004)
043 Asset Seizure Fund
7,000
5,608
12,608
048 Business District Fund
11285,500
450,000
11735,500
050 Water and Sewer Fund
33,340,063
(5,706,775)
27,633,289
061 Vehicle Replacement Fund
3,594,466
(885,000)
21709,466
063 Risk Management Fund
9,686,800
209,613
9,896,413
Amended Funds Total
144' 795,773
(3,661,745)
141' 134,028
All Other Village Budgeted Accounts
1710041195
_
1710041195
Total All Funds
161,799,968
(3,611,745)
158,138,223
For the most part, the above -presented revenue and expenditure amendments are
11
not representing additional expenditures. Instead, they represent compliance and
housekeeping items needed for neat and clean accounting records.
Alternatives
1. Approve the attached ordinance amending the Revenue and Expenditure
Budget for the fiscal year 2022.
2. Action at the discretion of the Village Board.
Staff Recommendation
Approve the attached ordinance amending the Revenue and Expenditure Budget
for the fiscal year 2022.
ATTACHMENTS:
Carryover - 2022 to 2023 - Exhibit - A.pdf
Budget Amendment 4 - 2022 Final.pdf
7
Village of Mount Prospect
Exhibit - A
Carryover from FY 2022 to FY 2023
Fund Subject
Notes
Amounts
Rand/83/Kensington Intersection Improvements - Phase II design engineering services to be completed in
001 - General Fund 001.80.90.00.0.704.674.001
2023.Carry-Over: $1,219,876.83
1,219,876.83
001.70.01.00.0.000.530.006
To Continue the Wall decal/art project from 2022 for Training room and stairwell - 5000
5,000.00
001.50.01.00.0.000.530.006
Carry Forward Misc. Professional Service and Supply Items for Human Servcices
1,862.50
001.50.52.00.0.000.665.093
Carry Forward Misc. Professional Service and Supply Items for Human Servcices
636.00
001 - General Fund Total
1,227,375.33
Village Hall domestic booster pump replacement delayed due to product availability. Pump on order and
020 - Capital Improvement Fund 020.80.90.00.0.706.645.020-1
scheduled for replacement in 2023.Carry-Over: $93,000
93,000.00
Village Hall window replacement delayed due to availability and production time of windows. Installation
020.80.90.00.0.706.645.020-2
to occur fall 2023.Carry-Over: $242,711.25
242,711.25
Village Hall emergency power supply modifications. The project requires coordinated efforts with Village
Hall HVAC replacement. Delay in HVAC replacement caused a delay to emergency power supply
020.80.90.00.0.706.645.020-3
modifications. Project to be completed in 2023.Carry-Over: $90,000
90,000.00
Fire Station 12 apparatus floor sealing postponed due to product availability. The product is available and
020.80.90.00.0.706.646.020-1
work will be completed in 2023.Carry-Over: $50,000
50,000.00
Fire Station 12 tuck pointing delayed due to uncertainty regarding retrofits to building. The future of the
020.80.90.00.0.706.646.020-2
building has been decided. Will complete tuck pointing work in 2023.Carry-Over: $100,000
100,000.00
Kensington Business Park Pond #1 Dredging - Engineering design services to be completed in 2023.
020.80.90.00.1.703.677.005
Dredging of pond to be completed in 2023 (budgeted in 2023).Carry-Over: $20,513.50
20,513.50
Melas/Meadows Pedestrian Bridge - Additional Phase I Services. Phase I engineering to completed in
020.80.90.00.1.704.636.033
2023.Carry-Over: $18,600
18,600.00
Seminole Ln Street Lighting -Construction and Phase III Inspection Services. Construction to be completed
020.80.90.00.1.705.676.008
in 2023. Delay in receiving street light poles.Carry-Over: $170,000
170,000.00
Melas/Meadows Ped Bridge - Union Pacific permit review services for Phase I engineering. Phase I review
020.80.90.00.1.705.679.002
to be completed in 2023.Carry-Over: $15,443.20
15,443.20
Public Works Fiber - Design & Inspection Services. Phase II design engineering and construction of fiber
020.80.90.00.1.706.649.020 -1
connection to PW to be completed in 2023.Carry-Over: $29,483.31
29,483.31
Public Works window replacement delayed due to availability and production time of windows.
020.80.90.00.1.706.649.020-2
Installation to occur summer of 2023.Carry-Over: $228,238.75
228,238.75
Village Hall HVAC replacement delay due to production time of HVAC components. HVAC order and
020.80.90.00.1.706.651.010
anticipate installation fall 2023.Carry-Over: $1,441,986.00
1,441,986.00
020 - Capital Improvement Fund Total
2,499,976.01
Rand/Central/Mount Prospect Intersection - Phase III Services. Work ongoing. Expect completion in
023 - Street Improvement Construction Fund 023.80.90.00.1.704.678.009
2024.Carry-Over: $2,341,003.80
2,341,003.80
023 - Street Improvement Construction Fund Total
2,341,003.80
2022 Water Main Replacement project not completed in 2022 due to coordination issues with school
adjacent to work. Last remaining 2022 water main segment to be complete in 2023.Emergency water
interconnection with Northwest Water Commission Phase II design engineering to be completed in
2023.Water main Phase II design engineering services for 2023 water main improvements started in 2022
050 - Water and Sewer Fund 050.80.90.00.1.700.671.003
to be completed in 2023.Carry-Over: $1,381,542.49
1,381,542.49
Deep Well 17 rehabilitation work delayed due to product availability of components for pump and pump
050.80.90.00.1.700.671.005
motor. Work to be completed in 2023.Carry-Over: $292,522.59
292,522.59
0
Village of Mount Prospect
Carryover from FY 2022 to FY 2023
Fund
Notes
Exhibit - A
Amounts
0
Cottonwood relief station replacement delayed due to long production time for system components.
Station has been installed awaiting completion of punch list items. Work to be completed in 2023.Lincoln-
We Go relief station replacement delayed due to long production times for system components.
050 - Water and Sewer Fund 050.80.90.00.1.701.672.002
Construction contract has been awarded. Work to be completed in 2023.Carry-Over: $627,454.65
627,454.65
Combine Sewer improvements. Combined sewer lining improvements contractor completed work in
050.80.90.00.1.701.672.003
January 2023. Carry -Over: $732,033.82
732,033.82
Separate Sanitary Sewer Improvements. Separate sanitary sewer improvements contractor completed
050.80.90.00.1.701.672.005
2022 program in January 2023.Carry-Over: $867,735.81
867,735.81
Fairview Gardens footing tile and overhead sewer installation project. Contract for work was awarded in
2022 with work commencing December 2022. Work to continue throughout 2023.Carry-Over:
050.80.90.00.1.702.672.001
$1,805,485.20
1,805,485.20
050 - Water and Sewer Fund Total
5,706,774.56
Police P-4 Explorer ordered, but order canceled. Have reordered. Expect delivery in 2023Carry-Over:
061 - Vehicle Replacement Fund 061.60.90.00.1.708.660.003
$51,000
51,000.00
Fire vehicle purchases for 2022. Vehicle 546 (Foam Truck) converting replaced Public Works vehicle to
replace foam truck. Currently in build process. Expect completion in 2023.Vehicle 544 (squad) vehicle is
061.70.90.00.1.708.660.005
in service, but have minor upfitting (lights) remaining.Carry-Over: $205,000
205,000.00
Public Works vehicle replacements. <br /> 2720 (compressor) ordered in 2022 expect delivery in
2023.2746 (compressor) placed order, but order was canceled by vendor (production issues). Attempting
to reorder.4557 (dump truck) placed order in 2022 hoping for delivery in 2023.4537 (dump truck) placed
order in 2022 hoping for delivery in 2023.2717 (backhoe) placed order in 2022 expect delivery in
2023.2727 (dump truck) delivered in December 2022. Currently completing upfitting of truck. Carry-over
061.80.90.00.1.708.660.006
funds to complete upfitting.Carry-Over: $629,DOD
629,000.00
061 - Vehicle Replacement Fund Total
885,000.00
Grand Total
12,660,129.70
0
ORDINANCE NO.
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 day of , 2022
Published in pamphlet form by
authority of the corporate authorities
of the Village of Mount Prospect, Illinois
the day of , 2023.
iF
ORDINANCE NO.
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:
11
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:
NAPES:
ABSENT:
PASSED and APPROVED this day of , 2023.
Paul Wm. Hoefert
Mayor
ATTEST
Karen Agoranos
Village Clerk
12
Village of Mount Prospect
Budget Amendment No. 2
Fiscal Year January 1, 2022 to December 31, 2022
Revenues
Current
Budget Increase/ Amended
Fund/Account Number Amount (Decrease) Budget
Amended Il:::unds
001 General (Fund
Amendments
001.415.002 - State Taxes State Income Tax
001.415.004 - State Taxes State Sales Tax
001.456.001 - Interest Income Interest Income
001.70.00.00.0.000.449.001 - Service Charge Ambulance Fee
............................................................................................................................................................................................................................................................................................................................
Amendments Total
Other Budgeted Accounts for the Fund
............................................................................................................................................................................................................
001 Geneirall IFuirnd Totall
002 Debt Servuce Fund
Amendments
6,300,000
2,965,000
9,265,000
23,500,000
6,820,000
30,320,000
10,000
572,000
582,000
1,900,000
..................................................................................................................................................................................................................................
1,115,000
3,015,000
31,710,000
..................................................................................................................................................................................................................................
11,472,000
43,182,000
34,069,208
..................................................................................................................................................................................................................................
-
34,069,208
55,779,208
11,472,000
77,251,208
002.00.00.00.2.578.488.001 - Bond Proceeds 8,230,000 8,230,000
..............................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
Amendments Total - 8,230,000 8,230,000
..............................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
Other Budgeted Accounts for the Fund 5,407,686 - 5,407,686
..............................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
002 Debt 5erviice Fund Totall 5,407,686 8,230,000 13,6.37,686
020 Capiitall Ilimprovemen't (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 Fund 1,401,000 - 1,401,000
..............................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
020 Capiitall Ilmprovement (Fund Totall 9,101,000 (5,000,000) 4,101,000
..............................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
024 IFlood Coirntiroll 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 IFlood Controll Construction (Fund To -tall 1,514,000 1,514,000
..............................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
13
Village of Mount Prospect
Budget Amendment No. 2
Fiscal Year January 1, 2022 to December 31, 2022
Revenues
Current
Budget Increase/ Amended
Fund/Account Number Amount (Decrease) Budget
048 Business Diistdct If:und
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 Distrllct If:und'Totai 1,285,500 450,000 1,735,500
..............................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
Amended Funds Total 117,828,139 10,064,000 127,892,139
..............................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
AH Other 1lGVVage Budgeted Accounts 36,301,953 - 36,301,953
Total All Funds 154,130,092 10,064,000 164,194,092
14
Village of Mount Prospect
Budget Amendment No. 4
Fiscal Year January 1, 2022 to December 31, 2022
Expenditures
Current
Budget Budget Amended
Fund/Account Number Amount Amendment Budget
Ainriended Il::unds
Amendments
0071. General (Fund
020.80.90.00.0.706.645.020 - Village Hall Facility Improvements
433,000
Amendments
7,289
020.80.90.00.1.704.636.033 - Other Expenditures Central Road Ped Crossing
745,000
(18,600)
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
.....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
020.80.90.00.1.703.677.005 - Flood Control Detention Pond Improv
.....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
1,618,020
(1,227,375)
390,645
Other Budgeted Accounts for the Fund
.....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
68,866,040
-
68,866,040
001 General l (Fund Totall
2,147,588
70,484,060
(1,227,375)
69,256,685
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 Capitan Improvement (Fund Total
.....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
x.1,0'76,5 t.9
(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 Impiroverneirnt Construc Fund To -tall
8,873,073
(2,341,004)
6,532,069
043 Asset Seirx.uire 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 Sei4ure Fund Totall 7,000 5,608 1.2,608
15
Village of Mount Prospect
Budget Amendment No. 4
Fiscal Year January 1, 2022 to December 31, 2022
Expenditures
0.50 Water and Seweir Fund
Amendments
050.80.90.00.1.700.671.003 - Water Distribution Water Main Repl
Current
(1,381,542)
3,188,631
050.80.90.00.1.700.671.005 - Water Distribution Deep Well Rehab
Budget
Budget
Amended
Fund/Account Number
Amount
Amendment
Budget
048 BuMness IOiistidd (Fund
1,022,000
(867,736)
154,264
Amendments
800,000
(732,034)
67,966
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 BuMness Dliistiriict Fund'Total
.....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
1,285,500
450,000
1,735,500
0.50 Water and Seweir 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 Frog
.....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
1,950,000
(1,805,485)
144,515
Amendments Total
.....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
10,578,391
(5,706,775)
4,871,616
Other Budgeted Accounts for the Fund
.....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
22,761,673
-
22,761,673
050 Wateir and Seweir Fund "t'otall
.....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
33,340,063
(5,706,775)
27,633,289
061 Vehiic1le Replacement (Fund
Amendments
061.60.90.00.1.708.660.003 - Motor Equipment Police Vehicles
514,222
(51,000)
463,222
061.70.90.00.1.708.660.005 - Motor Equipment Fire Vehicles
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 Vehuclle Repllacement (Fund 1'otall
.....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................�
3,594,466
(885,000)
2,709,466
063 Risk Management Found
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 Riislk Management Fund "t'otall 9,686,800 209,623 9,896,41.3
.....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
Amended Funds Total 144,795,773 (3,661,745) 141,134,028
.....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
AIIII Otlhneir Vill1lage I13uudgelted Accounts 1.7,004,195 1.7,004,1.95
Total All Funds 161,799,968 (3,661,745) 158,138,223