HomeMy WebLinkAboutOrd 6794 07/08/2025 Making Certain Amendments To The Annual Budget Adopted For The Fiscal Year Commencing January 1, 2025 And Ending December 31, 2025ORDINANCE NO. 6794
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 8th day of July, 2025
Published in pamphlet form by
authority of the corporate authorities
of the Village of Mount Prospect,
Illinois the 9th day of July, 2025.
ORDINANCE NO.6794
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
passed and approved Ordinance No. 6782 on March 18, 2025 amending the annual budget
for the fiscal year commencing January 1, 2025 and ending December 31, 2025; and
WHEREAS, the President and Board of Trustees of the Village of Mount Prospect have
passed and approved Ordinance No. 6788 on April 15, 2025 amending the annual budget
for the fiscal year commencing January 1, 2025 and ending December 31, 2025; 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. 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, 2025, through December 31,
2025, 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: Dante, DiPrima, Grossi, Matuszak, Saccotelli
NAYES: None
ABSENT: Gens
PASSED and APPROVED this 8th day of July , 2025.
Paul. Wm. Floefert,
Mayor V
ATTEST
Karen Agorano.�._
s
Village Clerk
Village of Mount Prospect
Budget Amendment No. 3
Fiscal Year January 1, 2024 to December 31, 2024
Revenues
Current Increase / Amended
Fund/Account Number Budget (Decrease) Budget
Amended Funds
049 - Prospect and Main TIF District
Amended Accounts
049.487.001- Transfer In 5,000,000 5,000,000
Amended Accounts Total 5,000,000 5,000,000
Other
Other Budgeted Accounts for the Fund
5,042,500
5,042,500
Other Total
5,042,500
5,042,500
049 - Prospect and Main TIF District Total
5,042,500
5,000,000 10,042,500
Amended Funds Total
5,042,500
5„000,000 10,042,500
Other Funds
Other Funds
Other
Other Budgeted Accounts for the Fund 155,901,365 155,901,365
Other Total 155,901,365 155,901,365
Other Funds Total 155,901,365 155,901,365
Other Funds Total 155,901,365 155,901,365
Total All Funds 160,943,865 5,000,0�00 165,943,865
Village of Mount Prospect
Budget Amendment No. 3
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
001.00.00.00.0.000.697.001- Transfer Out
001.70.01.00.0.000.561.004 - Cloud -Based Service
001.70.71.00.0.000.530.006 - Other Prof. Serv.
001.70,71.00.0.000.665.051- Water Recovery Equip
6,749,433
5,000,000
11,749,433
55,000
25,200
80,200
8,323
4,000
12,323
7,000
3,800
10,800
001.70.71.00.0.300.668.001- Radio Equip -Fire 5,000 3,500 8,500
001.70.71.00.0.302.665.045 -Turn Out Clothing 5,000 1,000 6,000
Amended Accounts Total 6,829,756 5,037,500 11,867,256
Other
Other Budgeted Accounts for the Fund 78,928,641 78,928,641
Other Total 78,928,641 - 78,928,641
001- General Fund Total 85,758,397 5,037,500 90,795,897
037 - SMP TIF Fund
Amended Accounts
037.80.90.00.1.700.671.007 - Water Main - New 750,000 1,410,000 2,160,000
Amended Accounts Total 750,000 1,410,000 2,160,000
Other
Other Budgeted Accounts for the Fund
145,000
145,000
Other Total
145,000
145,000
037 - SMP TIF Fund Total
895,000
1,410,000
2,305,000
049 - Prospect and Main TIF District
Amended Accounts
049.40.90.00.0.710.636.004 - Property Acquisition
-
5,000,000
5,000,000
Amended Accounts Total
5,000,000
5,000,000
Other
Other Budgeted Accounts for the Fund
6,097,738
6,097,738
Other Total
049 - Prospect and Main TIF District Total
6,097,738
6,097,738
-
5,000,000
6,097,738
11,097,738
052 - Parking System Revenue Fund
Amended Accounts
052.30.01.00.0.000.563.003 - Bank Processing Fees 12,000 12,000
052.80.81.81.0.000.550.001- Metra Land Lease 55,000 55,000
Amended Accounts Total 67,000 67,000
Other
Other Budgeted Accounts for the Fund
75,195
75,195
Other Total
75,195
75,195
052 - Parking System Revenue Fund Total
75,195 67,000
142,195
Amended Funds Total
92,826,330 11,514,500
104,340,830
Other Funds
Village of Mount Prospect
Budget Amendment No. 3
Fiscal Year January 1, 2025 to December 31, 2025
Expenditures
Increase /
Fund/Account Number
Current Budget (Decrease)
Amended Budget
Other Funds
Other
Other Budgeted Accounts for the Fund
84,839,097
84,839,097
Other Total
84,839,097 -
84,839,097
Other Funds Total
84,839,097
84,839,097
Other Funds Total
84,839,097
..... 84,839,097
Total All Funds 177,665,427 11,514,500 189,179,927