HomeMy WebLinkAbout09/13/2011 Financial Workshop Agenda".
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-NOTE TIME AND LOCATION-
ORDER OF BUSINESS
JOINT FINANCIAL PLANNING WORKSHOP
Meeting Location:
Mount Prospect Village Hall
Community Center
50 S. Emerson Street
Mount Prospect, Illinois 60056
Meeting Date and Time:
Tuesday, September 13, 2011
6:00 P.M.
CALL TO ORDER
ROLL CALL VILLAGE BOARD
Mayor Irvana Wilks
Trustee Paul Hoefert
Trustee John Korn
Trustee Steven Polit
ROLL CALL FINANCE COMMISSION
Chair - Vincent Grochocinski
Pam Bazan
Ann Smilanic
John Kellerhals
Trustee Arlene Juracek
Trustee John Matuszak
Trustee Michael Zadel
Thomas Pekras
Wayne Gardner
Don Ocwieja
III WORKSHOP TO DISCUSS PRELIMINARY 2012 BUDGET AND OTHER FINANCIAL
PLANNING ITEMS
Each year the Village Board engages in first quarter and mid -year reviews of the current
budget as a means of monitoring the revenue and expenditure levels noting any
significant variances. In addition, the Village Board and Finance Commission hold
separate pre- budget workshops specifically designed to look forward to the upcoming
budget year with the idea of setting fiscal parameters and giving staff direction for
preparation of next year's budget.
With initial departmental budget meetings now complete, staff is in position to present a
preliminary look at the 2012 proposed budget. The Village's 2012 proposed budget for
the General Fund shows a deficit of $1.2 million on revenues of $41.5 million and
expenditures of $42.7 million. Departmental meetings will be scheduled after the
workshop to address the projected deficit for 2012.
Additional discussion at this workshop will include the proposed 2011 property tax levy,
fund balance levels, funding for street construction and flood control, and the Randhurst
economic development agreement.
Staff has prepared a memorandum detailing the Village's 2012 proposed budget. Staff
will also share its current budget preparation strategy and look to the Village Board for
direction regarding the upcoming budget. Appropriate staff will be on hand to answer
questions and facilitate discussion.
IV. ADJOURNMENT