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Home My WebLink AboutOrd 6782 03/18/2025 Making Certain Amendments To The Annual Budget Adopted For The Fiscal Year Commencing January 01, 2025 and Ending December 31, 2025ORDINANCE NO. 6782 AN ORDINANCE MAKING CERTAIN AMENDMENTS TO THE ANNUAL BUDGET ADOPTED FOR THE FISCAL YEAR COMMENCING JANUARY 1, 2025 AND ENDING DECEMBER 31, 2025 PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES the 18th day of March, 2025 Published in pamphlet form by authority of the corporate authorities of the Village of Mount Prospect, Illinois the 18th dU of March, 2025. ORDINANCE NO. 6782 AN ORDINANCE MAKING CERTAIN AMENDMENTS TO THE ANNUAL BUDGET ADOPTED FOR THE FISCAL YEAR COMMENCING JANUARY 1, 2025 AND ENDING DECEMBER 31, 2025 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, 2025, and ending December 31, 2025, was adopted through the passage of Ordinance No. 6762 approved by the Corporate Authorities of the Village of Mount Prospect on November 6, 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, 2025, and ending December 31, 2025, and WHEREAS, the President and Board of Trustees of the Village of Mount Prospect believe the changes, as specified on the attached January 1, 2025, through December 31, 2025, Budget Amendment No. 1 to be in the best interest of the Village of Mount Prospect; and WHEREAS, the Village has now revised the revenue projections or has reserves in each of the Funds in which the budget is being increased adequate in amount to cover the budget changes reflected in Budget Amendment Number One, attached hereto. NOW, THEREFORE BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS: SECTION ONE: That the fiscal year budget for January 1, 2025, through December 31, 2025, for the Village of Mount Prospect is hereby amended, as detailed on Budget Amendment No. 1 attached hereto. SECTION TWO: That this ordinance shall be in full force and effect from and after its passage, approval and publication in pamphlet form as provided by law. AYES: Dante, Gens, Grossi, Matuszak, Saccotelli NAYES: None ABSENT: None PASSED and APPROVED this 18 day of March , 2025. ATTEST 4 Karen Agoranos Village Clerk Village of Mount Prospect Budget Amendment No. 1 Fiscal Year January 1, 2025 to December 31, 2025 Expenditures Increase / Fund/Account Number Current Budget (Decrease) Amended Budget Amended Funds 001 - General Fund Amended Accounts 001.50.51.00.0.000.573.010-American Rescue Plan Programs 200,000 200,000 001.60.01.00.0.000.561.004 - Cloud -Based Service 261,160 45,179 306,339 001.60.61.65.0.000.621.005 -Ammunition & Targets 41,200 15,433 56,633 001.80.90.00.0.704.674.001- Intersection Studies 1,235,000 1,843,397 3,078,397 Amended Accounts Total 1,537,360 2,104,009 3,641,369 Other Other Budgeted Accounts for the Fund 82,117,028 82,117,028 Other Total 82,117,028 82,117,028 001- General Fund Total 83,654,388 2,104,009 85,758,397 020 - Capital Improvement Fund Amended Accounts 020.40.90.00.0.710.636.007 - Facade Program 700,000 165,000 865,000 020.70.90.00.1.709.665.081- Extrication Equipment - 134,728 134,728 020.70.90.00.1.709.668.001- Radio Equip -Fire 130,000 162,212 292,212 020.80.90.00.0.706.645.020 - Facility Improvements 100,000 87,619 187,619 020.80.90.00.1.704.636.033 - Central Road Ped Crossing 100,000 223,697 323,697 020.80.90.00.1.705.676.007 - Corridor Streetlight Improvement 5,409 5,409 020.80.90.00.1.705.676.008 - Res Streetlight Improv 300,000 206,403 S06,403 020.80.90.00.1.705.679.002 - Ped Bridge - Melas/Mead 620,445 620,445 020.80.90.00.1.705.679.027 - Bike Path Improvements 640,500 639,588 1,280,088 020.80.90.00.1.706.648.020 - Facility Improvements 75,075 80,000 155,075 020.80.90.00.1.706.651.010 - Repl HVAC-Pub Bldgs 69,300 69,300 138,600 020,80.90.00.1.707.651.006 - Connectivity 150,000 150,000 Amended Accounts Total 2,114,875 2,544,400 4,659,275 Other Other Budgeted Accounts for the Fund 2,869,388 - 2,869,388 Other Total 2,869,388 - 2,869,388 020 - Capital Improvement Fund Total 4,984,263 2,544,400 7,528,663 023 - Street Improvement Construc Fund Amended Accounts 023.80.90.00.0.705.678.003 - Resurfacing -SC Fund 4,442,922 302,544 4,745,466 023.80.90.00.1.704.678.009 - Street Reconstruction - 1,538,683 1,538,683 Amended Accounts Total 4,442,922 1,841,227 6,284,149 Other Other Budgeted Accounts for the Fund 1452000 Other Total 145,000 145,000 023 - Street Improvement Construc Fund Total 4,587,922 1,841,227 6,429,149 Village of Mount Prospect Budget Amendment No. 1 Fiscal Year January 1, 2025 to December 31, 2025 Expenditures Increase / Fund/Account Number Current Budget (Decrease) Amended Budget 024 - Flood Control Construction Fund Amended Accounts 024.80.01.00.1.702.530.006 - Other Prof. Serv. 203,661 203,661 024.80.90.00.0.702.677.007 - Weller Creek Imp 25,600 25,600 024.80.90.00.1.702.677.003 - Levee 37 50,000 50,000 Amended Accounts Total 279,261 279,261 Other Other Budgeted Accounts for the Fund 1,014,709 1,014,709 Other Total 1,014,709 1,014,709 024 - Flood Control Construction Fund Total 1,014,709 279,261 1,293,970 049 -Prospect and Main TIF District Amended Accounts 049.40.45.00.0.000.636.019 - Developer Incentives 1,200,000 280,000 1,480,000 049.40.90.00.0.710.636.007 - Facade Program 100,000 100,000 200,000 Amended Accounts Total 1,300,000 380,000 1,680,000 Other Other Budgeted Accounts for the Fund 4,417,738 4,417,738 Other Total 4,417,738 4,417,738 049 - Prospect and Main TIF District Total 5,717,738 380,000 6,097,738 050- Water and Sewer Fund Amended Accounts 050.30.01.00.0.102.563.003 - Bank Processing Fees 160,000 45,000 205,000 050.80.90.00.1.700.671.001 - Tank Repair/Ren 662,933 662,933 050.80.90.00.1.700.671.003 - Water Main Repl 6,500,000 152,931 6,652,931 050.80.90.00.1.700.671.007 - Water Main - New - 1,684,000 1,684,000 050.80.90.00.1.701.672.002 - Lift Station Rehab - 408,932 408,932 050.80.90.00.1.702.672.001- Basin 14 Foot Tile/OH Sewer Frog 100,000 482,704 582,704 Amended Accounts Total 6,760,000 3,436,500 10,196,500 Other Other Budgeted Accounts for the Fund 20,302,540 - 20,302,540 Other Total 20,302,540 20,302,540 050 - Water and Sewer Fund Total 27,062,540 3,436,500 30,499,040 051- Village Parking System Fund Amended Accounts 051.80.90.00.0.706.679.021- Parking Deck Maint 111,000 37,201 148,201 Amended Accounts Total 111,000 37,201 148,201 Other Other Budgeted Accounts for the Fund 67,436 67,436 Other Total 67,436 67,436 051- Village Parking System Fund Total 178,436 37,201 215,637 Village of Mount Prospect Budget Amendment No. 1 Fiscal Year January 1, 2025 to December 31, 2025 Expenditures Fund/Account Number 061- Vehicle Replacement Fund Amended Accounts 061.60.90.00.1.708.660.003 - Police Vehicles 061.70.90.00.1.708.660.005 - Fire Vehicles 061.80.90.00.1.708.660.006 - PW Vehicles Increase / Current Budget (Decrease) Amended Budget 695,000 118,134 813,134 1,920,000 180,000 2,100,000 2,265,000 37,000 2,302,000 Amended Accounts Total 4,880,000 335,134 5,215,134 Other Other Budgeted Accounts for the Fund 101,000 101,000 Other Total 101,000 101,000 061 - Vehicle Replacement Fund Total 4,981,000 335,134 5,316,134 063 - Risk Management Fund Amended Accounts 063.20.90.00.1.706.645.020 - Facility Improvements 447,500 447,500 Amended Accounts Total - 447,500 447,500 Other Other Budgeted Accounts for the Fund 11,493,433 11,493,433 Other Total 11,493,433 11,493,433 063 - Risk Management Fund Total 11,493,433 447,500 11,940,933 Amended Funds Total 143,674,429 11,405,232 155,079,661 Other Funds Other Funds Other Other Budgeted Accounts for the Fund 21,762,675 21,762,675 Other Total 21,762,675 21,762,675 Other Funds Total 21,762,675 21,762,675 Other Funds Total 21,762,675 - 21,762,675 Total All Funds 165,437,304 11,405,232 176,842,336