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Home My WebLink AboutOrd 6781 03/18/2025 Making Certain Amendments To The Annual Budget Adopted For The Fiscal Year Commencing January 1, 2024 and Ending December 31, 2024ORDINANCE NO. 6781 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 18th day of March 2025 Published in pamphlet form by authority of the corporate authorities of the Village of Mount Prospect, Illinois the 19th day of March, 2025. ORDINANCE NO.6781 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 passed and approved Ordinance No.6771 on December 17, 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. 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: 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. 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: Dante, Gens, Grossi, Matuszak, Saccotelli NAYES: None ABSENT: None PASSED and APPROVED this 18th day of March > 2025. ATTEST Karen A,gor� nos ��..� Village Clerk Village of Mount Prospect Budget Amendment No. 4 Fiscal Year January 1, 2024 to December 31, 2024 Expenditures Fund/Account Number Current Budget Amendments Amended Budget Amended Funds 001 - General Fund Amended Accounts 001.50.51.00.0.000.573.010 - American Rescue Plan Programs 315,000 (200,000) 115,000 001.60.01.00.0.000.561.004 - Cloud -Based Service 257,500 (45,179) 212,321 001.60.61.65.0.000.621.005 - Ammunition & Targets 41,000 (15,433) 25,567 001.80.90.00.0.704.674.001- Intersection Studies 2,244,212 (1,843,397) 400,814 Amended Accounts Total 2,857,712 (2,104,009) 753,703 Other Other Budgeted Accounts for the Fund 90,067,210 90,067,210 Other Total 90,067,210 90,067,210 001 - General Fund Total 92,924,922 (2,104,009) 90,820,913 020 - Capital Improvement Fund Amended Accounts 020.40.90.00.0.710.636.007 - Facade Program 300,000 (165,000) 135,000 020.70.90.00.1.709.665.081- Extrication Equipment 135,000 (134,728) 272 020.70.90.00.1.709.668.001- Radio Equip -Fire 750,000 (162,212) 587,788 020.80.90.00.0.706.645.020 - Facility Improvements 254,515 (87,619) 166,896 020.80.90.00.1.704.636.033 - Central Road Ped Crossing 837,555 (223,697) 613,858 020.80.90.00.1.705.676.007 - Corridor Streetlight Improvement 57,000 (5,409) 51,591 020.80.90.00.1.705.676.008 - Res Streetlight Improv 400,767 (206,403) 194,365 020.80.90.00.1.705.679.002 - Ped Bridge - Melas/Mead 740,668 (620,445) 120,223 020.80.90.00.1.705.679.027 - Bike Path Improvements 1,664,624 (639,588) 1,025,036 020.80.90.00.1.706.648.020 - Facility Improvements 1,874,590 (80,000) 1,794,590 020.80.90.00.1.706.651.010 - Repl HVAC-Pub Bldgs 277,300 (69,300) 208,000 020.80.90.00.1.707.651.006 - Connectivity 150,000 (150,000) - Amended Accounts Total 7,442,020 (2,544,400) 4,897,620 Other Other Budgeted Accounts for the Fund 2,035,866 - 2,035,866 Other Total 2,035,866 2,035,866 020 - Capital Improvement Fund Total 9,477,886 (2,544,400) 6,933,486 023 - Street Improvement Construc Fund Amended Accounts 023.80.90.00.0.705.678.003 - Resurfacing -SC Fund 5,007,566 (302,544) 4,705,022 023.80.90.00.1.704.678.009 - Street Reconstruction 2,177,212 (1,538,683) 638,529 Amended Accounts Total 7,184,778 (1,841,227) 5,343,551 Other Other Budgeted Accounts for the Fund 90,000 90,000 Other Total 90,000 90,000 023 - Street Improvement Construc Fund Total 7,274,778 (1,841,227) 5,433,551 Village of Mount Prospect Budget Amendment No. 4 Fiscal Year January 1, 2024 to December 31, 2024 Expenditures Fund/Account Number Current Budget Amendments Amended Budget 024 - Flood Control Construction Fund Amended Accounts 024.80.01.00.1.702.530.006 - Other Prof. Serv. 346,237 (203,661) 142,576 024.80.90.00.0.702.677.007 - Weller Creek Imp 250,000 (25,600) 224,400 024.80.90.00.1.702.677.003 - Levee 37 50,000 (50,000) - Amended Accounts Total 646,237 (279,261) 366,976 Other Other Budgeted Accounts for the Fund 2,142,290 2,142,290 Other Total 2,142,290 - 2,142,290 024 - Flood Control Construction Fund Total 2,788,527 (279,261) 2,509,266 049 - Prospect and Main TIF District Amended Accounts 049.40.45.00.0.000.636.019 - Developer Incentives 1,025,000 (280,000) 745,000 049.40.90.00.0.710.636.007 - Facade Program 100,000 (100,000) - Amended Accounts Total 1,125,000 (380,000) 745,000 Other Other Budgeted Accounts for the Fund 2,418,888 2,418,888 Other Total 2,418,888 2,418,888 049 - Prospect and Main TIF District Total 3,543,888 (380,000) 3,163,888 050 - Water and Sewer Fund Amended Accounts 050.30.01.00.0.102.563.003 - Bank Processing Fees 220,000 (45,000) 175,000 050.80.90.00.1.700.671.001- Tank Repair/Ren 685,000 (662,933) 22,067 050.80.90.00.1.700.671.003 - Water Main Repl 6,099,245 (152,931) 5,946,314 050.80.90.00.1.700.671.007 - Water Main - New 1,750,000 (1,684,000) 66,000 050.80.90.00.1.701.672.002 - Lift Station Rehab 4,170,928 (408,932) 3,761,996 050.80.90.00.1.702.672.001- Basin 14 Foot Tile/OH Sewer Prog 550,000 (482,704) 67,296 Amended Accounts Total 13,475,173 (3,436,500) 10,038,673 Other Other Budgeted Accounts for the Fund 23,308,604 23,308,604 Other Total 23,308,604 23,308,604 050 - Water and Sewer Fund Total 36,783,777 (3,436,500) 33,347,278 051 - Village Parking System Fund Amended Accounts 051.80.90.00.0.706.679.021- Parking Deck Maint 127,000 (37,201) 89,799 Amended Accounts Total 127,000 (37,201) 89,799 Other Other Budgeted Accounts for the Fund 75,337 75,337 Other Total 75,337 75,337 051- Village Parking System Fund Total 202,337 (37,201) 165,136 Village of Mount Prospect Budget Amendment No. 4 Fiscal Year January 1, 2024 to December 31, 2024 Expenditures Fund/Account Number Current Budget Amendments Amended Budget 061 - Vehicle Replacement Fund Amended Accounts 061.60.90.00.1.708.660.003 - Police Vehicles 633,766 (118,134) 515,632 061.70.90.00.1.708.660.005 - Fire Vehicles 2,568,000 (180,000) 2,388,000 061.80.90.00.1.708.660.006 - PW Vehicles 2,590,200 (37,000) 2,553,200 Amended Accounts Total 5,791,966 (335,134) 5,456,832 Other Other Budgeted Accounts for the Fund 71,000 - 71,000 Other Total 71,000 71,000 061 - Vehicle Replacement Fund Total 5,862,966 (335,134) 5,527,832 063 - Risk Management Fund Amended Accounts 063.20.90.00.1.706.645.020 - Facility Improvements 450,000 (447,500) 2,500 Amended Accounts Total 450,000 (447,500) 2,500 Other Other Budgeted Accounts for the Fund 10,769,327 10,769,327 Other Total 10,769,327 10,769,327 063 - Risk Management Fund Total 11,219,327 (447,500) 10,771,827 Amended Funds Total 170,078,408 (11,405,232) 158,673,177 Other Funds Other Funds Other Other Budgeted Accounts for the Fund Other Total 20,266,218 20,266,218 Other Funds Total 20,266,218 20,266,218 Other Funds Total 20,266,218 20,266,218 Total All Funds 190,344,626 11,405,232 178,939,395