HomeMy WebLinkAbout2a. 2009 Year End Results
Village at Mount Prospect, Illinois
General Fund - Revenues and Expenditures
2009 End-at-Year Results - UNAUDITED
(a) (b) (c) (d)
Budget
2009 Variance-
2008 Amended 2009 Favorable
Actual Budget Actual (Unfavorable) Notes
Revenues:
Property Taxes 10,346,986 10,529,000 10,641,494 112,494 A
Sales Taxes - ROT Portion 10,066,919 9,068,000 9,055,194 (12,806)
Sales Taxes - HMR Portion 1,221,967 1,054,000 1,036,021 (17,979)
Food and Beverage Tax 776,268 714,000 751,121 37,121
Real Estate Transfer Tax 643,082 489,000 405,300 (83,700) B
Telecommunications Tax 2,770,473 2,896,000 2,810,330 (85,670) C
Other Utility Taxes 1,987,506 1,859,000 1,708,847 (150,153) D
Other Taxes 151,679 136,000 142,124 6,124
Vehicle Licenses 1,403,190 1,405,000 1,395,204 (9,796)
Other Licenses, Permits, Fees 1,691,638 2,524,000 2,276,850 (247,150) E
State Income Tax 5,326,270 4,705,000 4,573,162 (131,838) F
Other Intergovernmental 1,803,622 1,413,100 1,246,017 (167,083) G
Charges for Services 1,511,172 1,605,500 1,691,169 85,669 H
Fines and Forfeits 720,351 699,000 529,655 (169,345) I
Investment Income 256,845 64,000 64,954 954
Other Revenue 405,090 524,000 538,028 14,028
Total Revenues 41,083,058 39,684,600 38,865,470 (819,130)
Expenditures
Public Representation 163,821 123,332 119,564 3,768
Village Manager's Office 2,828,498 2,942,288 3,015,431 (73,143) J
Television Services Division 193,430 183,215 193,273 (10,058)
Village Clerk's Office 198,860 210,609 208,123 2,486
Finance Department 1,584,722 1,566,661 1,564,367 2,294
Community Development Dept. 2,170,474 2,290,107 2,149,201 140,906 K
Human Services Dept. 838,999 1,068,448 1,004,630 63,818 L
Police Department 13,883,560 14,143,163 14,150,720 (7,557)
Fire Department 11,068,222 11,323,326 11,338,492 (15,166)
Public Works Department 6,981,997 6,431,860 6,424,115 7,745
PW - Storm Expenses 194,622 0 0 0
Community and Civic Services 381,889 367,584 358,209 9,375
Miscellaneous 45,460 46,500 45,590 910
Total Expenditures 40,534,554 40,697,093 40,571,713 125,380 M
Excess of Revenues over Expend. 548,504 (1,012,493) (1,706,243) (693,750) N
Other Financing Sources/Uses
Transfers In 0 0 0 0
Transfers Out (822,274) (635,000) (635,100) ( 100)
Total Other Financing Uses (822,274) (635,000) (635,100) (100 ) 0
Excess of Revenues over Expend.
and Other Financing Uses: (273,770) (1,647,493) (2,341,343) (693,850) P
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2009 End of Year Summary - GF
Village of Mount Prospect, Illinois
General Fund - Revenues and Expenditures
2009 End-of-Year Results - UNAUDITED
Notes
A During 2009, the Village received 97.5% of the extended amount and 99.5% of the base amount
from the 2008 tax levy. addition, amounts for prior year levies were also received totaling
$31,000. The Village typically receives between 97.5% and 100% of the total base levy.
B This tax has continued to fall from its high point in 2005 when the Village received $1.5 million.
I do not expect to see any significant increase in this tax until the housing market picks up.
C The Telecommunications tax came in 3.0% under the amended budget in 2009, but exceeded
the original budget by 10.0%. The surpluses over the prior year slowed toward the end of
2009 resulting in not achieving the projected amount.
D Other utility taxes, including the gross receipts tax for gas and electric as well as the gas
use tax, were down between 5.0% and 15.0% for 2009. A likely casualty of the slowed
economy since receipts are primarily based on utility usage.
E Impacting these revenues were shortfalls in building permits and public improvements
inspection line items. Timing for issuing building permits related to Randhurst resulted in the
shortfall. Revenue anticipated in 2009 will be instead credited to 2010.
F The original budget of $96 per capita was based on information provided by the IML. Since that
time the estimate was lowered several times adjusting for the slowed economy. Our original
budget was lowered by $719,000 to $83 per capita. Final per capita amount was actually $81.
G Estimates for state use and replacement taxes were also lowered in response to the slowing
economy. These two items came in a combined $$53,000 below budget. In addition, grant
monies expected during the year for Illinois Housing, RTAP and other grants were not realized.
H Ambulance transport fees exceeded budget by $108,000. The amount could have potentially
been greater had the state been more timely in remitting Medicare payments to the Village for
those covered by the program for this service.
Amounts remitted to the Village for parking fines and circuit court fines have declined
significantly from the prior year. More delinquent parking fines are being sent to collections
while overall revenue from the County is down as smaller amounts from each ticket are being
remitted to the Village.
J Legal fees related to the YOTI case have driven this cost center's expenses to exceed budget.
K Savings in Community Development were seen in several contractual service type accounts
related to economic development and document imaging. In addition, spending for the RTAP
project was pushed into 2010 as the project was not completed by year's end.
L Savings were realized in the Humans Services budget as a result of the delayed opening of the
Community Connections Center until July 2009. In addition, a full-time position was eliminated
and replaced with two part-time positions resulting in savings in salaries and benefits.
M Expenditures were .3% below the amended budget for 2009. This is on top of the $1.5 million
in cuts that were made by departments throughout the year in response to falling revenues.
N There was an operating deficit in the General Fund for 2009 of $1 ,706,243 (a deficit of
$1,012,493 was anticipated). The variance is the result of revenues falling greater than
expected.
o The Transfers Out were a planned drawdown of fund balance to cover a portion of the cost of
the Phase I construction projects. A total of $2 million was committed over a 3-year period.
P The General Fund had a total deficit in 2009 of $2.3 million. This was due to the planned
drawdown mentioned in Note 0 as well as the operating deficit due to falling revenues.
As mentioned previously, departments removed $1.5 million from the budget during 2009.
Fund balance at 12/31/09 is 24.61%.
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2009 End of Year Summary - GF