HomeMy WebLinkAboutOrd 6680 05/17/2023 Amendments To The Annual Budget Adopted For The Fiscal Tear Commencing January 1, 2023 And Ending December 31, 2023ORDINANCE NO. 6680
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 16 day of May -12023
Published in pamphlet form by
authority of the corporate authorities
of the Village of Mount Prospect, Illinois
the 17 day of May , 2023.
ORDINANCE NO. 6680
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
passed and approved Ordinance No. 6671 on March 21, 2023 amending the annual budget
for the fiscal year commencing January 1, 2023 and ending December 31, 2023; 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. 2 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 two, 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. 2 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: Dante, Gens, Grossi, Matuszak, Saccotelli
NAYES: Filippone
ABSENT: None
PASSED and APPROVED this 16 day of May , 2023.
ATTEST
................
Karen�.......m...
"ao
Village Clerk
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 Funds
001 General Fund
Amendments
001.403.003 - Home Rule Sales Tax HR Sales Tax -3rd
001.415.004 - State Taxes State Sales Tax
1,500,000 4,900,000 6,400,000
28,500,000 (6,000,000) 22,500,000
Amendments Total 30,000,000 (1,100,000) 28,900,000
Other Budgeted Accounts for the Fund 46,454,329 - 46,454,329
001 General Fund Total 76,454,329 (1,100,000) 75,354,329
002 Debt Service Fund
Amendments
002.00.00.00.2.516.403.001- Home Rule Sales Tax HR Sales Tax -1st
002.00.00.00.2.516.415.004 - State Taxes State Sales Tax
Amendments Total
923,656 (923,656)
- 923,656 923,656
923,656 - 923,656
Other Budgeted Accounts for the Fund
3,758,250
_
3,758,250
002 Debt Service Fund Total
4,681,906
4,681,906
020 Capital Improvement Fund
Amendments
020.403.004 - Home Rule Sales Tax HR Sales Tax -4th
1,500,000
(1,500,000)
-
020.415.004 - State Taxes State Sales Tax
2,000,000
2,000,000
Amendments Total
1,500,000
500,000
2,000,000
Other Budgeted Accounts for the Fund
1,008,000
-
1,008,000
020 Capital Improvement Fund Total
2,508,000
500,000
3,008,000
023 Street Improvement Construc Fund
Amendments
023.403.002 - Home Rule Sales Tax HR Sales Tax -2nd
1,500,000
(1,500,000)
-
023.415.004 - State Taxes State Sales Tax
2,000,000
2,000,000
Amendments Total
1,500,000
500,000
2,000,000
Other Budgeted Accounts for the Fund
2,623,000
--
2,623,000
023 Street Improvement Construc Fund Total
4,123,000
500,000
4,623,000
Village of Mount Prospect
Budget Amendment No. 2
Fiscal Year January 1, 2022 to December 31, 2022
Revenues
Current
Budget
Fund/Account Number Amount
Increase/ Amended
(Decrease) Budget
024 Flood Control Construction Fund
Amendments
024.403.001- Home Rule Sales Tax HR Sales Tax -1st
575,000
(575,000)
-
024.415.004 - State Taxes State Sales Tax
-
1,076,344
1,076,344
Amendments Total
575,000
501,344
1,076,344
Other Budgeted Accounts for the Fund
1,815,000
-
1,815,000
024 Flood Control Construction Fund Total
2,390,000
501,344
2,891,344
038 Economic Stabilization Fund
Amendments
038.487.001- Other Financing Sources - Transfer in 6,500,000 6,500,000
Amendments Total - 6,500,000 6,500,000
038 Economic Stabilization Fund Total - 6,500,000 6,500,000
Amended Funds Total
•
90,157,235 6,901,344 97,058,579
52,678,978 _ 52,678,978
Total All Funds 142,836,213 6,901,344 149,737,557
Village of Mount Prospect
Budget Amendment No. 2
Fiscal Year January 1, 2023 to December 31, 2023
Expenditures
Current
Budget
Budget
Amended
Fund/Account Number
Amount
Amendment
Budget
Amended Funds
001 General n
Amendments
001.00.00.00.0.000.697.001- Transfers Transfer Out
11,350,000
6,500,000
17,850,000
Amendments Total
11,350,000
6,500,000
17,850,000
Other Budgeted Accounts for the Fund
66,649,450
-
66,649,450
001 General Fund Total
77,999,450
6,500,000
84,499,450
Amended Funds Total
77,999,450
6,500,000
84,499,450
All Other Village Budgeted Accounts
82,975,555
_
82,975,555
Total All Funds
160,975,005
6,500,000
167,475,005
Fund/Account Number
Village of Mount Prospect
Budget Amendment No. 2
Fiscal Year January 1, 2023 to December 31, 2023
Expenditures
Current
Budget Budget Amended
Amount Amendment Budget
Village of Mount Prospect
Budget Amendment No. 2
Fiscal Year January 1, 2023 to December 31, 2023
Expenditures
Fund/Account Number
Current
Budget Budget Amended
Amount Amendment Budget
173635134.2