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Home My WebLink AboutOrd 6844 04/21/2026 Making Certain Amendments To The Annual Budget Adopted For The Fiscal Year Commencing January 1, 2025 And Ending December 31. 2025ORDINANCE NO. 6844 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 21st da oofApril, 2026 Published in pamphlet form by authority of the corporate authorities of the Village of Mount Prospect, Illinois the 22nd day of April, 2026, ORDINANCE NO. 6844 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. 6789 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 passed and approved Ordinance No. 6794 on July 8, 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. 6810 on October 28, 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. 6834 on March 16, 2026 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. 6 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 Six, 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. 6 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, Gens, Grossi, Matuszak, Saccotelli NAYES: None ABSENT: None PASSED and APPROVED this 21 st day of April , 2026. ATTEST 9. ............ . . ....... _ _.... Karen Igor nos Village Clerk Village of Mount Prospect Budget Amendment No. 6 Fiscal Year January 1, 2025 to December 31, 2025 Revenues Current Increase / Amended Fund/Account Number Budget (Decrease) Budget Amended Funds 001 - General Fund Amended Accounts 001.401.003 - NICOR Gas Tax 750,000 (148,000) 602,000 001.401.004 -Telecom Tax 1,025,000 (95,600) 929,400 001.402.003 - Food & Bev Tax 1,400,000 120,600 1,520,600 001,402.007 -Real Estate Trsfr Tax 1,020,000 159,700 1,179,700 001.403.003 - HR Sales Tax-3rd 7,500,000 1,778,700 9,278,700 001.404,001 - Cable TV - Comcast 565,000 (114,600) 450,400 001.415.002-State Income Tax 9,500,000 750,000 10,250,000 001.415.004 - State Sales Tax 28,000,000 6,689,200 34,689,200 001.415.005 - State Use Tax 2,310,000 (1,472,900) 837,100 001.467.006 - PMA 140,500 140,500 001.70.00.00.0.000.449.001 -Ambulance Fee 4,061,046 216,000 4,277,046 001.410.001 - Building Permit 875,000 251,400 1,126,400 001.453.011 - Parking Fines 145,000 57,500 202,500 001.473.006 - Other Reimbursements 2,500 981,600 984,100 001.60.00.00.0.000.453.001 - Circuit Court Fines 100,000 31,500 131,500 001.70.00.00.0.000.453.006 - False Alarm Fees 20,000 (20,000) Amended Accounts Total 57,273,546 9,325,600 66,599,146 Other Other Budgeted Accounts for the Fund 26,380,842 26,380,842 Other Total 26,380,842 26,380,842 001 - General Fund Total 83,654,388 9,325,600 92,979,988 002 - Debt Service Fund Amended Accounts 002,456.001 - Interest Income 26,250 39,800 66,050 Amended Accounts Total 26,250 39,800 66,050 Other Other Budgeted Accounts for the Fund 4,499,280 4,499,280 Other Total 4,499,280 4,499,280 002 - Debt Service Fund Total 4,525,530 39,800 4,565,330 020 - Capital Improvement Fund Amended Accounts 020.456.001 - Interest Income 210,000 97,570 307,570 020.418.015 - IL Dept of Transportation 171,500 171,500 020.418.028 - General 419,200 419,200 Amended Accounts Total 210,000 688,270 898,270 Other Other Budgeted Accounts for the Fund 4,899,392 4,899,392 Other Total 4,899,392 4,899,392 020 - Capital Improvement Fund Total 5,109,392 688,270 5,797,662 Village of Mount Prospect Budget Amendment No. 6 Fiscal Year January 1, 2025 to December 31, 2025 Revenues Current Increase / Amended Fund/Account Number Budget (Decrease) Budget 023 - Street Improvement Construe Fund Amended Accounts 023.456.001 - Interest Income 146,250 100,144 246,394 Amended Accounts Total 146,250 100,144 246,394 Other Other Budgeted Accounts for the Fund 4,951,750 4,951,750 Other Total 4,951,750 4,951,750 023 - Street Improvement Construc Fund Total 5,098,000 100,144 5,198,144 024 - Flood Control Construction Fund Amended Accounts 024.456.001 - Interest Income 82,800 68,685 151,485 024.419.002 - DCEO Grants 766,000 766,000 Amended Accounts Total 82,800 834,685 917,485 Other Other Budgeted Accounts for the Fund 15,000 15,000 Other Total 15,000 15,000 024 - Flood Control Construction Fund Total 97,800 934,685 932,485 037 - SMP TIF Fund Amended Accounts 037.400.011 - Prop Tax Increment CY 800,000 1,006,400 1,806,400 037.456.001 - Interest Income 32,800 32,800 Amended Accounts Total 800,000 1,039,200 1,839,200 Other Other Budgeted Accounts for the Fund - other Total 037 - SMP TIF Fund Total 800,000 1,039,200 1,839,200 038 - Economic Emergency Fund Amended Accounts 038,456.001 - Interest Income 363,750 216,000 579,750 Amended Accounts Total 363,750 216,000 579,750 Other Other Budgeted Accounts for the Fund Other Total 038 - Economic Emergency Fund Total 363,750 216,000 579,750 039 - Pension Stabilization Fund Amended Accounts 039.456.001 - Interest Income 9,150 9,150 Amended Accounts Total 9,150 9,150 Other Other Budgeted Accounts for the Fund 2,000,000 2,000,000 Other Total 2,000,000 - 2,000,000 039 - Pension Stabilization Fund Total 2,000,000 9,150 2,009,150 Village of Mount Prospect Budget Amendment No. 6 Fiscal Year January 1, 2025 to December 31, 2025 Revenues Current Increase / Amended Fund/Account Number Budget (Decrease) Budget 040 - Refuse Disposal Fund Amended Accounts 040.456.001 - Interest Income 31,800 16,500 48,300 040.473.006 - Other Reimbursements 155,000 (60,000) 95,000 040.80.85.00.0.000.445.001 - Sgle Fam Ref Disp 3,996,900 111,000 4,107,900 Amended Accounts Total 4,183,700 67,500 4,251,200 Other Other Budgeted' Accounts for the Fund 1,465,100 1,465,100 Other Total 1,465,100 1,465,100 040 - Refuse Disposal Fund Total 5,648,800 67,500 5,716,300 041 - Motor Fuel Tax Fund Amended Accounts 041.415.003 - State Motor Fuel Tax 2,420,000 175,500 2,595,500 041.456.001 - Interest Income 96,400 74,100 170,500 Amended Accounts Total 2,516,400 249,600 2,766,000 Other Other Budgeted Accounts for the Fund 8,000 8,000 Other Total 8,000 _ 8,000 041 -Motor Fuel Tax Fund Total 2,524,400 249,600 2,774,000 042-CDBG Amended Accounts 042.476.001 - CDBG Program Income 30,000 35,800 65,800 042.418.002 - Comm Dev Block Grant 295,000 101,260 396,260 Amended Accounts Total 325,000 137,060 462,060 Other Other Budgeted Accounts for the Fund Other Total 042 - CDBG Total 325,000 137,060 462,060 048 - Business District Fund Amended Accounts 048.00.00.00.0.775.402.003 - Food & Bev Tax 375,000 5,300 380,300 048.00.00.00.0.775.402.005 - Hotel/Motel Tax 250,000 29,300 279,300 048.00.00.00.0.775.402.008 - Movie Thtre Tax 62,500 15,000 77,500 048.00.00.00.0.775.415.004 - State Sales Tax 1,000,000 661,100 1,661,100 048.456.001 - Interest Income 30,000 2,000 32,000 048.00.00.00.0.775.405.001 - Business Dist Tax 310,000 65,200 375,200 Amended Accounts Total _ 2,027,500 777,900 2,805,400 Other Other Budgeted Accounts for the Fund Other Total 048 - Business District Fund Total 2,027,500 777,900 2,805,400 Village of Mount Prospect Budget Amendment No. 6 Fiscal Year January 1, 2025 to December 31, 2025 Revenues Current Increase / Amended Fund/Account Number Budget (Decrease) Budget 049 - Prospect and Main TIF District Amended Accounts 049.400.011 - Prop Tax Increment CY 5,011,000 892,750 5,903,750 Amended Accounts Total 5,011,000 892,750 5,903,750 Other Other Budgeted Accounts for the Fund 8,731,500 8,731,500 Other Total 8,731,500 8,731,500 049 - Prospect and Main TIF District Total 13,742,500 892,750 14,63S,250 050 - Water and Sewer Fund Amended Accounts 050.456.001 - Interest Income 425,000 375,150 800,150 Amended Accounts Total 425,000 375,150 800,150 Other Other Budgeted Accounts for the Fund 22,586,370 22,586,370 Other Total 22,586,370 22,586,370 050 - Water and Sewer Fund Total 23,011,370 375,150 23,386,520 061 - Vehicle Replacement Fund Amended Accounts 061.456.001 - Interest Income 300,000 50,100 350,100 061.467.006 - PMA 220,000 220,000 061.493.001 - Gain/Loss Sale of Assets 162,825 162,825 Amended Accounts Total 300,000 432,925 732,925 Other Other Budgeted Accounts for the Fund 2,048,030 2,048,030 Other Total 2,048,030 2,048,030 061 - Vehicle Replacement Fund Total 2,348,030 432,925 2,780,9S5 062 - Computer Replacement Fund Amended Accounts 062.456.001 - Interest Income 26,440 26,440 Amended Accounts Total - 26,440 26,440 Other Other BudgetedAccounts for the Fund 995,443 995,443 Other Total 995,443 995,443 062 - Computer Replacement Fund Total 995,443 26,440 1,021,883 063 - Risk Management Fund Amended Accounts 063.456.001 - Interest Income 12,500 495,100 507,600 063.440.010 - Departmental Charges 5,707,963 356,500 6,064,463 063.479.016 - Change in IPBC Terminal Reserve 193,400 193,400 Amended Accounts Total 5,720,463 1,045,000 6,765,463 Other Other Budgeted' Accounts for the Fund 5,773,726 5,773,726 Other Total 5,773,726 5,773,726 063 - Risk Management Fund Total 11,494,189 1,045,000 12,539,189 Amended Funds Total 163,766,092 16,257,174 180,023,266 Village of Mount Prospect Budget Amendment No. 6 Fiscal Year January 1, 2025 to December 31, 2025 Revenues Current Increase / Amended Fund/Account Number Budget (Decrease) Budget Other Funds Other Other Budgeted Accounts for the Fund 5,877,773 5,877,773 Other Total 5,877,773 5,877,773 Other Funds Total 5,877,773 5,877,773 Other Funds Total 5,877,773 5,877,773 Total All Funds 169,643,865 16,257,174 185,901,039 Village of Mount Prospect Budget Amendment No. 6 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 001.50.52.00.0.000.500.001- Full -Time Earnings 112,364 12,000 124,364 001.50.52.00.0.000.665,093 - Medical Equipment 743 3,300 4,043 Amended Accounts Total 113,107 15,300 128,407 Other Other Budgeted Accounts for the Fund 91,369,272 91,369,272 Other Total 91,369,272 91,369,272 001 - General Fund Total 91,482,379 15,300 91,497,679 020 - Capital Improvement Fund Amended Accounts 020.60.90.00.1.707,665.056 - Mobile Video Rec Sys 300,000 43,800 343,800 Amended Accounts Total 300,000 43,800 343,800 Other Other Budgeted Accounts for the Fund 4,732,417 4,732,417 Other Total 4,732,417 - 4,732,417 020 - Capital Improvement Fund Total 5,032,417 43,800 5,076,217 040 - Refuse Disposal Fund Amended Accounts 040.30.01.00.0.102.563.003 - Bank Processing Fees 16,000 13,000 29,000 040.80.85.00.0.000.568.005 -Tipping Fees - SWANCC 1,126,752 20,000 1,146,752 Amended Accounts Total 1,142,752 33,000 1,175,752 Other Other Budgeted Accounts for the Fund 4,169,215 4,169,215 Other Total 4,169,215 - 4,169,215 040 - Refuse Disposal Fund Total 5,311,967 33,000 5,344,967 041 - Motor Fuel Tax Fund Amended Accounts 041.80.83.86.0.357.577.002 - Traffic Light Maint 27,900 27,900 Amended Accounts Total 27,900 27,900 Other Other Budgeted Accounts for the Fund 'r 2,524,400 2,524,400 Other Total 2,524,400 2,524,400 041 - Motor Fuel Tax Fund Total 2,524,400 27,900 2,552,300 042-CDBG Amended Accounts 042.40.41.00.0,154.572.042 - Single Family Rehab and WG 042.40.41.00.0.154.572.056 - Lion's Park 4,000 4,000 191,000 191,000 Amended Accounts Total 195,000 195,000 Village of Mount Prospect Budget Amendment No. 6 Fiscal Year January 1, 2025 to December 31, 2025 Expenditures Increase / Fund/Account Number Current Budget (Decrease) Amended Budget Other Other Budgeted Accounts for the Fund 283,285 283,285 Other Total 283,285 283,285 042 - CDBG Total 283,285 195,000 478,285 044 - Federal Equitable Share Funds Amended Accounts 044.60.61.65.0.000.665.031 - Other Equipment 1,000 35,000 36,000 044.60.61.66.0.000.530.006 - Other Prof. Serv. 500 9,500 10,000 Amended Accounts Total 1,500 44,500 46,000 Other Other Budgeted Accounts for the Fund Other Total 044 - Federal Equitable Share Funds Total 1,500 44,500 46,000 045 - DUI Fine Fund Amended Accounts 045.60.61.65.0.000.525.004 - Training 8,600 8,600 045.60.61.65.0.000.665.031- Other Equipment 1,000 1,300 2,300 Amended Accounts Total 1,000 9,900 10,900 Other Other Budgeted Accounts for the Fund 1,000 1,000 Other Total 1,000 - 1,000 045 - DUI Fine Fund Total 2,000 9,900 11,900 046- Foreign Fire Tax Board Fund Amended Accounts 046.70.71.00.0.301.530.006 - Other Prof. Serv. 10,000 65,000 75,000 Amended Accounts Total 10,000 65,000 75,000 Other Other Budgeted Accounts for the Fund 141,000 141,000 Other Total 141,000 141,000 046 - Foreign Fire Tax Board Fund Total 151,000 65,000 216,000 048 - Business District Fund Amended Accounts 048.00.00.00.0.775.691,002 - Randhurst RDA Interest Payment 2,,027,500 777,900 2,805,400 Amended Accounts Total 2027,500 777,900 2,805,400 Other Other Budgeted Accounts for the Fund " Other Total 048 - Business District Fund Total 2,„027,500 777,900 2,805,400 051 - Village Parking System Fund Amended Accounts Village of Mount Prospect Budget Amendment No. 6 Fiscal Year January 1, 2025 to December 31, 2025 Expenditures Increase / Fund/Account Number Current Budget (Decrease) Amended Budget 051.30.01.00.0.000.563.003 - Bank Processing Fees 10,000 7,000 17,000 Amended Accounts Total 10,000 7,000 17,000 Other Other Budgeted Accounts for the Fund 205,637 205,637 Other Total 205,637 205,637 051 - Village Parking System Fund Total 215,637 7,000 222,637 Amended Funds Total 107,032,085 1,219,300 108,251,385 Other Funds Other Funds Other Other Budgeted Accounts forthe Fund 76,950,088 76,950,088 Other Total 76,950,088 76,950,088 Other Funds Total 76,950,088 76,950,088 Other Funds Total 76,950,088 76,950,088 Total All Funds 183,982,173 1,219,300 185,201,473