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Home My WebLink About8.2 Waive the rules requiring two readings of an ordinance and adopt AN ORDINANCE MAKING CERTAIN AMENDMENTS TO THE ANNUAL BUDGET ADOPTED FOR THE FISCAL YEAR COMMENCING JANUARY 1, 2024, AND ENDING DECEMBER 31, 2024M+awn �'xytlts=e Item Cover Page Subject Waive the rules requiring two readings of an ordinance and adopt AN ORDINANCE MAKING CERTAIN AMENDMENTS TO THE ANNUAL BUDGET ADOPTED FOR THE FISCAL YEAR COMMENCING JANUARY 1, 2024, AND ENDING DECEMBER 31, 2024 Meeting December 17, 2024 - REGULAR MEETING OF THE MOUNT PROSPECT VILLAGE BOARD Fiscal Impact (Y/N) Dollar Amount Budget Source Category NEW BUSINESS Type Ordinance Information The Village amends its annual budget as needed. Village staff are proposing $2,168,455 in amendments to the adopted 2024 fiscal year budget. Discussion General Fund The Village's proposed amendments to the General Fund budget total $1,201,455. These amendments will increase the General Fund expenditure budget from $91,723,467 to $92,924,922. The items requiring budget amendments are discussed below: 1. Tax Rebate Expenses: The Village has various redevelopment agreements for sales tax sharing. The annual expenditure was budgeted at $110,000. This line item has an offset from the sales tax revenue collected. The final payment on one of the agreements was made in 2024, including part of sales tax payments for 2023 and 2024, resulting in a higher expenditure for the year. This line requires an amendment of $52,000, and the final budget for the year will be $162,000. 2. Copier Lease: The Human Services Department's copier lease amount was budgeted at $4,000, while the actual lease payment is $7,000, requiring an additional $3,000 in amendments. 3. Fire Department Overtime: The Fire Department's overtime for the year is estimated at $1,750,000, while the original budget for the overtime was $749,944. Higher numbers of worker's compensation injuries, the opening of Fire Station 11, and manning the engine at Station 11 on an overtime basis until three additional firefighters/paramedics are hired are the main reasons for increased overtime. The table below shows a year-to-date analysis of overtime costs. This year, the Village paid $338,230 in overtime costs due to sick callouts, $269,500 due to worker's compensation claims and duty injuries, and $306,172 for other regular overtime, including Station 11 related staffing costs. The Village will be receiving the remaining fund balance from the Elk Grove Rural Fire Protection District, estimated to be around $750,000, which should help the Village cover some of the overtime costs mentioned above. 2111 - OT 1.5IN/P IFure IHB&cktiime 208 - CDT - 1.5 IWIP IFre, IHB Duty IInjury � Work ,6nmps 212 - OT- 1.5 IN/P Hre IHB OtIner Regular 214 - OT - 1.5 IW IP IFure IHB Persaanl Tiiime 248 - OT-1.51N11P IFure 4th Ambulance 204 - OT 1.5 IN/ P IFure (Force Beck 217 - OT- 1.5 IW IP IF1B5chooUTraiiniing; Other Over4iime (Items 5,163 362,562 575 .56,655 6,59 23,340 1„454 92,269 1,004 65,703 594 34,228 72 4,694 6,159 191,435 4,961 329,174 1,445 94,597 677 45,536 1,715 195,596 2067 135,941 697 41,133 9.59 .56,453 5.4747 216,679 ,5,216 336,239 3,946 269,500 4,731 306,172 1,615 102,415 2,003 121,977 1,415 91,721 3,459 226,934 4. Fire Department GEMT Contribution: The Village receives revenue from a Ground Emergency Medical Transport program (federal program). The Village has to share 50% of the collected revenues with the state. The Village budgeted $500,000 in revenue to be shared with the State of Illinois. The actual payment that the Village needed to share was $563,000, and an additional year-end accrual totaling $37,000 may be required for the additional amount to be paid. There is an offset to this item on the revenue side (ambulance billing fees). 5. Fire Department Other Items: The fire department's original budget was designed to cover three fire stations. Various line items are running over budget and would require amendments totaling $46,455 with the opening of Fire Station 11. These are various training line items, furniture & equipment, radio equipment, and cloud -based software services. These line items are appropriately budgeted for the year 2025. Many General Fund revenue line items outperformed the original projections, and there is enough funds and cash on hand to provide for the above amendments without compromising fund balance. DUI Fund The other equipment line item of the DUI Fund was budgeted at $1,000. A radar was purchased from the collected DUI fines during the year totaling $12,800. This item was not originally budgeted in 2024 and requires a budget amendment of $12,000. Prospect & Main TIF The original budget includes $275,000 in return of increments to Cook County. This amount is based on an intergovernmental agreement between the Village of Mount Prospect, School District 214, and the Park District. Per the agreement, there are specific parcels from which the Village must return 100% of the increments to Cook County. Based on the 2023 taxes payable in 2024, the amount comes out to be $637,000 and requires an additional amount/amendment of $362,000 in the budget. The Prospect & Main TIF includes student impact fees payable to School Districts 57 and 214. The current budget includes $200,000 for student impact fees. Based on the actual student impact fee bills received from the schools, the Village is required to pay $197,453 to District 214 and $93,162 to District 57. The Village would need an additional budget of $100,000 for the student impact fee line to make these payments. The Village has budgeted $750,000 for developer incentives. The Village has realized higher than anticipated increments for certain projects, resulting in earlier and higher payments in developer incentives. The total developer's incentive for the year is estimated at $1,025,000 and requires an additional budget of $275,000. The Village has collected $4.3 million in increments against the original budget of $2.5 million, which provides enough support for the above -listed budget amendments totaling $737,000. Banking Fees: The Village has seen an uptick in online transactions for the water and sewer funds. The Village needs to pay $83,750 in contractual obligations to CityBase for online payment solution services. This payment covers the period from September 2024 to September 2025. Due to timing issues, two payments were due in 2024, one for September 2023 to September 2024 (paid in January) and the second for September 2024 to September 2025. This payment will be adjusted in future years but requires an additional $100,000 in the budget for 2024. The Village has also seen an increase in parking lot utilization, resulting in higher revenue collection and fee amounts. requiring $7,000 in higher credit card fees. Risk Management: The Risk Management fund includes public facility improvements totaling $350,000. This amount is funded from the employee wellness/incentives provided by the Intergovernmental Personnel Benefit Cooperative (IPBC). The amount was budgeted based on the CIP budget for the gym buildout at Village Hall. The final project amount was $450,000. IPBC has already funded the full project amount. However, the budget for the project is still at the original amount of $350,000. Hence, an amendment of $100,000 is proposed herewith. Fund/Account Nuum ,bacr irnusinded i,,iincis X00,1 Geine-ratIlfuund DU III IFminne IFmuurrd 49..1Piro sllpecaainnd IMammu'7111IF Is uurlict X0501_ ateinaindSevveinIIFruncl 061 -Vif I g,e IlPaflain� Sy steamu IFrumnrl 052 - IPairMinrg vsi rn IR;e emrUe IFund 0,61IO�uliiu�I I�pLu uruiu�m�um Irun�0 O.. u.. ..IISins;W�IIM.�inu� ruiuu�inn� uumn�i9 .................................................................................................................................................................................................................. Amended Fund,s,TotaI 01theinlFrunds Amended Fuund;s,Tru-taI Current Inere�ase / Amended Budget (Decrease) Budget 9111,723,467 1,204,455 92,924,922 ,0001 1 ,0,01 1 14,0,0101 2,8016,88,8, 737.0001 3,54-3.8,8,8 36,683,777 1010,0001 36,783,777 197,337 5,0001 2 012,337 90,756 2,01001 91 2,75(5 ............................................................................................................................................................................................................................................. 148A75,518 2,168,455 1,501,643,973 9,700,653, 9,700,1(5 u3, 1, 8,"I7 x,171, 2,168,455 1,901,344,626 As shown in the above table, the amendment totals $2.2 million and will bring the annual budget to $190.3 million. The Village has enough cash, revenue levels, and fund balance to support the above amendments. Alternatives 1. Waive the rules requiring two readings of an ordinance and adopt the attached ordinance, making amendments totaling $2,168,455 to the annual budget for 2024. 2. Action at the discretion of the Village Board. Staff Recommendation Staff recommends waiving the rules requiring two readings of an ordinance and adopting the attached ordinance, making amendments totaling $2,168,455 to the annual budget for 2024. Attachments Budget Amendment Ordinance - 3 ORDINANCE NO. AN ORDINANCE MAKING CERTAIN AMENDMENTS TO THE ANNUAL BUDGET ADOPTED FOR THE FISCAL YEAR COMMENCING JANUARY 1, 2024 AND ENDING DECEMBER 31, 2024 PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES the day of , 2024 Published in pamphlet form by authority of the corporate authorities of the Village of Mount Prospect, Illinois the day of , 2024. ORDINANCE NO. AN ORDINANCE MAKING CERTAIN AMENDMENTS TO THE ANNUAL BUDGET ADOPTED FOR THE FISCAL YEAR COMMENCING JANUARY 1, 2024 AND ENDING DECEMBER 31, 2024 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, 2024, and ending December 31, 2024, was adopted through the passage of Ordinance No. 6708 approved by the Corporate Authorities of the Village of Mount Prospect on November 7, 2023; and WHEREAS, the President and Board of Trustees of the Village of Mount Prospect have passed and approved Ordinance No. 6731 on March 19, 2024 amending the annual budget for the fiscal year commencing January 1, 2024 and ending December 31, 2024; and WHEREAS, the President and Board of Trustees of the Village of Mount Prospect have passed and approved Ordinance No. 6745 on July 9, 2024 amending the annual budget for the fiscal year commencing January 1, 2024 and ending December 31, 2024; 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, 2024, and ending December 31, 2024, and WHEREAS, the President and Board of Trustees of the Village of Mount Prospect believe the changes, as specified on the attached January 1, 2024, through December 31, 2024, Budget Amendment No. 3 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 Three, 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, 2024, through December 31, 2024, for the Village of Mount Prospect is hereby amended, as detailed on Budget Amendment No. 3 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: NAYES: ABSENT: PASSED and APPROVED this day of , 2024. Paul Wm. Hoefert Mayor ATTEST Karen Agoranos Village Clerk Village of Mount Prospect Budget Amendment No. 3 Fiscal Year January 1, 2024 to December 31, 2024 Expenditures Increase / Fund/Account Number Current Budget (Decrease) Amended Budget Amended Funds 001...General Fund Amended Accounts 001.30.01.00.0.000.636.030 - Tax Rebate Expense 110,000 52,000 162,000 001.50.01.00.0.000.551.001 - Copier Lease Payment 4,000 3,000 7,000 001.70.01.00.0.000.561.004 - Cloud -Based Service 38,700 9,350 48,050 001.70.01.00.0.000.567.016 - GEMT State Share 500,000 100,000 600,000 001.70.01.00.0.000.619.013 - Special Events Supplies 3,500 1,500 5,000 001.70.71.00.0.000.503.001 - Overtime 749,944 1,000,000 1,749,944 001.70.71.00.0.000.525.002 - Special Rescue Trng. 7,200 1,500 8,700 001.70.71.00.0.000.525.004 - Training 50,000 1,800 51,800 001.70.71.00.0.000.525.006 - EMS Trng. 21,500 1,200 22,700 001.70.71.00.0.000.530.006 - Other Prof. Serv. 8,160 3,520 11,680 001.70.71.00.0.000.532.002 - Equipment Maint. 11,220 4,550 15,770 001.70.71.00.0.000.567.003 - Ladder Testing 1,100 875 1,975 001.70.71.00.0.000.665.021 - Furniture & Equipment 20,000 11,500 31,500 001.70.71.00.0.300.668.001 - Radio Equip -Fire 4,000 5,950 9,950 001.70.71.00.0.302.525.004 - Training 2,500 405 2,905 001.70.72.00.0.000.622.001 - Open House Supplies 4,000 3,880 7,880 001.70.73.00.0.000.567.002 - Siren Maintenance 3,500 125 3,625 001.70.73.00.0.000.622.001 .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... - Open House Supplies 1,250 300 1,550 Amended Accounts Total .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 1,540,574 1,201,455 2,742,029 Other Other Budgeted Accounts for the Fund .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 90,182,893 90,182,893 Other Total .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 90,182,893 90,182,893 001 General Fund'TfotA .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 91,723,46'7 1,201,455 92,924,922 045 IDU.PI Nne (Fund Amended Accounts 045.60.61.65.0.000.665.031 .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... - Other Equipment 1,000 12,000 13,000 Amended Accounts Total .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 1,000 12,000 13,000 Other Other Budgeted Accounts for the Fund .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 1,000 1,000 Other Total .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 1,000 1,000 045 IDUI Fine Fund'Total .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 2,000 12,000 14,000 049 Prospect and Main'TH: District Amended Accounts 049.30.00.00.0.000.637.001 - Rtrn of Inc -Cook County 275,000 362,000 637,000 049.40.01.00.0.000.636.035 - Student Impact Fees 200,000 100,000 300,000 049.40.45.00.0.000.636.019 .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... - Developer Incentives 750,000 275,000 1,025,000 Amended Accounts Total .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 1,225,000 737,000 1,962,000 Other Other Budgeted Accounts for the Fund .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 1,581,888 1,581,888 Other Total .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 1,581,888 1,581,888 049 Prospect avid Main'J'IF DistrictTotal .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 2,806,888 737,000 3,543,888 Village of Mount Prospect Budget Amendment No. 3 Fiscal Year January 1, 2024 to December 31, 2024 Expenditures Increase / Fund/Account Number Current Budget (Decrease) Amended Budget 050 Water and Suver Fund Amended Accounts 050.30.01.00.0.102.563.003 - Bank Processing Fees .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 120,000 100,000 220,000 Amended Accounts Total .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 120,000 100,000 220,000 Other Other Budgeted Accounts for the Fund .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 36,563,777 36,563,777 Other Total .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 36,563,777 36,563,777 050 Water and Sever IFund'TotA .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 36,683,77'7 100,000 36,783,777 051 Vulliage IParking System (Fund Amended Accounts 051.30.01.00.0.000.563.003 - Bank Processing Fees .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 7,000 5,000 12,000 Amended Accounts Total .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 7,000 5,000 12,000 Other Other Budgeted Accounts for the Fund .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 190,337 190,337 Other Total .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 190,337 190,337 051 Vfflage I11'airlkiing System Fund'Totai .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 197,33'7 5,000 202,337 052 (Parking System revenue Fund Amended Accounts 052.30.01.00.0.000.563.003 - Bank Processing Fees .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 8,240 2,000 10,240 Amended Accounts Total .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 8,240 2,000 10,240 Other Other Budgeted Accounts for the Fund .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 82,516 82,516 Other Total .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 82,516 82,516 052 IParking System Revenue Fund TotaI .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 90,756 2,000 92,756 061 VeNclle Replacement (fund Amended Accounts 061.50.90.00.1.708.660.017 - Human Sery Vehicles .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 28,000 11,000 39,000 Amended Accounts Total .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 28,000 11,000 39,000 Other Other Budgeted Accounts for the Fund .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 5,823,966 5,823,966 Other Total .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 5,823,966 5,823,966 061 VeNclle Replacement Fund'Totai .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 5,851,966 11,000 5,862,966 06.3 II3isIk Management Fund Amended Accounts 063.20.90.00.1.706.645.020 - Facility Improvements .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 350,000 100,000 450,000 Amended Accounts Total .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 350,000 100,000 450,000 Other Other Budgeted Accounts for the Fund .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 10,769,327 10,769,327 Other Total .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 10,769,327 10,769,327 063 IR!isll( Management (Fund TotA .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 11,119,327 100,000 11,219,327 Amended Funds Total .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 148,475,518 2,168,455 150,643,973 Village of Mount Prospect Budget Amendment No. 3 Fiscal Year January 1, 2024 to December 31, 2024 Expenditures Increase / Fund/Account Number Current Budget (Decrease) Amended Budget Other Funds Other IFunds Other Other Budgeted Accounts for the Fund 39,700,653 39,700,653 .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... Other Total 39,700,653 39,700,653 Other Funds'To,W ........................................................................................................ Other Funds Total 39, 700,653 39,700,653 .......................................................................................................................................................................................................................................................................................................... 39,700,653 39,700,653 Total All Funds 188,176,171 2,168,455 190,344,626