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Home My WebLink About4. OLD BUSINESS 12/21/04 " .,- Village of Mount Prospect Mount Prospect, Illinois INTEROFFICE MEMORANDUM FROM: MICHAEL E. JANONIS, VILLAGE MANAGER DIRECTOR OF FINANCE ~b ~1'" zJ?(o'f TO: DATE: NOVEMBER 22, 2004 SUBJECT: 2004 PROPERTY TAX LEVY AND ABA TEMENTORDINANCES PURPOSE: To obtain approval of the attached four ordinances related to the tax levies of the Village, the Mount Prospect Public Library, and the Village's two special services areas. BACKGROUND: Prior to December 23, 2004 the Village must have on file with the County Clerk its 2004 tax levy and abatement ordinances. The Village will receive the proceeds from the 2004 tax levy in 2005. The Village Board first discussed the proposed 2004 tax levy at its October 26th Committee of the Whole meeting, at which staff recommended a net Village tax levy of $12,093,915, an increase of 4.8% over the prior year's levy. The Mount Prospect Library Board approved their tax levy request at its meeting on October 21,2004. They are asking for a total levy, inclusive of a 2% provision for loss and cost, of $7,072,560. This represents an increase of 9.9% over the 2003 levy. DISCUSSION: The fòllowing table compares the proposed 2004 tax levy to the 2003 levy for the Village and Library. The amounts presented in the table are net of abatements and are inclusive of the 2% provision for loss and cost. Fund 2003 LEVY 2004 LEVY INCREASE % CHANGE VILLAGE General $ 6,340,450 $ 6,624,249 $ 283,799 4.48% Refuse 2,289,820 2,289,820 0 no change Debt Service 1,025,441 1,201,599 176,158 17.2% Police Pension 918,385 964,304 45,919 5.0% Fire Pension 965,660 1,013,943 48,283 5.0% Total VillaQe $11,539,756 $12,093,915 $ 554,159 4.8% LIBRARY Operations $ 4,806,980 $ 5,457,211 $ 650,231 13.52% Debt Service 1,626,365 1,615,349 (11,016) (0.7%) Total Library $ 6,433,345 $ 7,072,560 $ 639,215 9.9% TOTAL $17,973,101 $19,166,475 $ 1,193,374 6.6% A detailed spreadsheet of all proposed levies, including detailed levies and abatements for each outstanding bond issue, is also attached. 2004 Property Tax Levy November 22, 2004 Page 2 The Village's 2003 equalized assessed valuation (EAV) was $1,321,886,943. Our 2004 EAV is estimated to increase 10% to $1,454,075,637 from the prior year. The large increase expected is due to the Cook County triennial assessment of village property. The Village's 2004 tax rate is expected to decrease to $0.832 from the 2003 rate of $0.874. The Library's 2004 tax rate is estimated at $0.486, compared to the 2003 rate of $0.487. For illustration purposes only, a home with an EAV of $73,664 (a market value of approximately $311,950) in 2003 will pay taxes of $618 to the Village of Mount Prospect and $361 to the Library for the levy extended in 2004. This represents increases of $14 and $25, respectively, over the levy extended in 2003. Special Service Area No.5 was created in the mid-eighties to help fund the bringing of Lake Michigan water to theVillage's water system. It is recommended the 2004 levy remain the same as the 2003 levy ($1,545,773). The resulting tax rate is estimated to be $0.124. Special Service Area No.6 was created in 1987 to fund certain capital improvements in the area of George and Albert Streets. Bonds were sold in 1988 to fund the construction. Only those property owners benefiting from the improvements pay debt service used for the capital improvements. A net levy of $27,800 is being recommended. This includes an abatement of $10,000 using available funds on hand. The resulting tax rate is estimated to be $0.295. The Village Board is being asked to consider four ordinances related to the 2004 tax levy. Two of the ordinances establish the initial levy of the Village (including the Library) and the two special service areas. There are also two abatement ordinances that reduce a portion of the debt service tax levies established by the various bond ordinances. The proposed ordinances reflect the numbers as presented in the proposed 2005 budget. RECOMMENDATION: It is recommended the Village Board approve the attached 2004 tax levy and abatement ordinances. ./ /~<-<,~~/¿~.~. t!~-_.. c. . DAVID O. ERB DIRECTOR OF FINANCE Attachment DOE! 1:\Property Taxes\2004 Levy\Levy and Abatement Ordinance Cover Memo to Board.doc " VILLAGE OF MOUNT PROSPECT AND THE MOUNT PROSPECT PUBLIC LIBRARY SUMMARY OF 2004 PROPERTY TAX LEVY 2% Net Provision Total 2004 2004 Loss and 2004 Levy Abatement Levv Costs Extension VILLAGE OF MOUNT PROSPECT General Corporate Fund 6,494,362 0 6,494,362 129,887 6,624,249 Refuse Fund 2,244,922 0 2,244,922 44,898 2,289,820 Police Pension Fund 945,396 0 945,396 18,908 964,304 Firefighters' Pension Fund 994,062 0 994,062 19,881 1,013,943 Debt Service Funds Series 1987A (Ord. 3782) 151,000 0 151,000 3,020 154,020 Series 1996A (Ord. 4780) 212,200 212,200 0 0 0 Series 1998A (Ord. 4917) 62,683 62,683 0 0 0 Series 1998 Taxable (Ord. 4977) 152,695 152,695 0 0 0 Series 1999 (Ord. 4999) 905,600 905,600 0 0 0 Series 2000 (Ord. 5114) 291,498 291,498 0 0 0 Series 2001 (Ord. 5212) 389,528 0 389,528 7,791 397,319 Series 2002A & B (Ord. 5236) 973,350 442,173 531,177 10,624 541,801 Series 2003 (Ord. 5301) 911,332 805,000 106,332 2,127 108,459 Total Village 14,728,628 2,871,849 11,856,779 237,136 12,093,915 MOUNT PROSPECT PUBLIC LIBRARY Library Operations 5,350,207 0 5,350,207 107,004 5,457,211 Library Debt Service 1,583,675 0 1,583,675 31,674 1,615,349 Total Library 6,933,882 0 6,933,882 138,678 7,072,560 TOTAL - VILLAGE OF MOUNT PROSPECT AND PUBLIC LIBRARY 21,662,510 2,871,849 18,790,661 375,814 19,166,475 SPECIAL SERVICE AREA NO.5 1,515,464 0 1,515,464 30,309 1,545,773 SPECIAL SERVICE AREA NO.6 37,800 10,000 27,800 556 28,356 ORDINANCE NO. AN ORDINANCE AUTHORIZING THE LEVY AND COLLECTION OF TAXES FOR THE CORPORATE AND MUNICIPAL PURPOSES OF THE VILLAGE OF MOUNT PROSPECT FOR THE FISCAL YEAR BEGINNING JANUARY 1,2004 AND ENDING DECEMBER 31,2004 PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES the day of ,2004 Published in pamphlet form by authority of the corporate authorities of the Village of Mount Prospect, Illinois the day of , 2004. ~ ORDINANCE NO. AN ORDINANCE AUTHORIZING THE LEVY AND COLLECTION OF TAXES FOR THE CORPORATE AND MUNICIPAL PURPOSES OF THE VILLAGE OF MOUNT PROSPECT FOR THE FISCAL YEAR BEGINNING JANUARY 1,2004 AND ENDING DECEMBER 31,2004 NOW, THEREFORE, BE IT ORDAINED BY THE President and Board of Trustees of the Village of Mount Prospect, Cook County, Illinois, as follows: Section I: That the sum of Eighteen Minion Seven Hundred Ninety Thousand Six Hundred and Sixty-One ($18,790,661), the same being the total amount to be levied of budget appropriations heretofore made for the corporate and municipal purposes for the fiscal year beginning January 1, 2004 and ending December 31, 2004 as approved by the President and Board of Trustees of the Village of Mount Prospect, be and the same is hereby levied on all taxable property within the Village of Mount Prospect according to the valuation of said property as is, or shall be assessed or equalized by the State and County purposes for the current year 2004. Section 2: The budgetary appropriations theretofore having been made heretofore by the President and Board of Trustees of the Village of Mount Prospect were passed and approved by Ordinance No. 5395 at a meeting hereof regularly convened and held in said Village of Mount Prospect, Illinois, on the 16th day of December, 2003, and as amended by Ordinance No. 5427 passed and approved on the 20th day of April, 2004, and further amended by Ordinance No. 5xxx passed and approved on the 21 st day of December, 2004, thereafter duly published according to law, the various objects and purposes for said budgetary appropriations are heretofore made and set forth under the column entitled "Amount Budgeted", and the specific amount herein levied for each object and purpose is set forth under the column entitled "Amount Levied", in Articles I through XVII. VILLAGE OF MOUNT PROSPECT, ILLINOIS 2004 TAX LEVY Amount Budgeted Amount Levied ARTICLE I - GENERAL FUND 01 11 Public Representation 01 Mayor and Board of Trustees Personal Services Employee Benefits Other Employee Costs Contractual Services Utilities Commodities & Supplies Office Equipment Total Mayor and Board of Trustees 25,000 0 2,560 0 0 0 59,856 0 500 0 5,000 0 0 0 92,916 0 9,370 0 3,088 0 0 0 2,000 0 500 0 14,958 0 107,874 0 02 Advisory Boards and Commissions Personal Services Employee Benefits Other Employee Costs Contractual Services Commodities & Supplies Total Advisory Boards and Commissions Total Public Representation Village Administration 01 Village Manager's Office Personal Services Employee Benefits Other Employee Costs Contractual Services Utilities Commodities & Supplies Office Equipment Total Village Manager's Office 302,380 0 71,727 0 6,000 0 3,750 0 4,200 0 3,450 0 300 0 39] ,807 0 340,000 0 0 0 340,000 0 02 Legal Services Contractual Services Office Equipment Total Legal Services 2 12 VILLAGE OF MOUNT PROSPECT, ILLINOIS 2004 TAX LEVY 03 Personnel Services Personal Services Employee Benefits Other Employee Costs Contractual Services Commodities & Supplies Office Equipment Total Personnel Services 04 Management Infonnation Systems Personal Services Employee Benefits Other Employee Costs Contractual Services Utilities Commodities & Supplies Office Equipment Total Management Information Systems 05 Public Infonnation Personal Services Employee Benefits Other Employee Costs Contractual Services Utilities Commodities & Supplies Total Public Infonnation Total Village Administration Television Services Division 02 Cable TV Operations Personal Services Employee Benefits Other Employee Costs Contractual Services Utilities Commodities & Supplies Other Equipment Total Cable TV Operations 3 Amount Amount Budgeted Levied 166,970 0 49,133 0 16,850 0 30,650 0 1,450 0 300 0 265,353 0 169,070 0 58,583 0 3,800 0 440,852 0 2,860 0 3,500 0 14,050 0 692,715 0 45,430 0 17,878 0 1,150 0 77,500 0 520 0 2,000 0 144,478 0 1,834,353 0 62,810 25,965 1,850 20,761 1,350 5,100 8,500 126,336 0 0 0 0 0 0 0 0 14 17 VILLAGE OF MOUNT PROSPECT, ILLINOIS 2004 TAX LEVY 04 Intergovernmental Programming Personal Services Employee Benefits Other Employee Costs Contractual Services Utilities Commodities & Supplies Other Equipment Total Intergovernmental Programming Total Television Services Division Village Clerk's Office 02 Village Clerk's Office Personal Services Employee Benefits Other Employee Costs Contractual Services Utilities Commodities & Supplies Total Village Clerk's Office Finance Department 01 Finance Administration Personal Services Employee Benefits Other Employee Costs Contractual Services Utilities Commodities & Supplies Office Equipment Total Finance Administration 02 Accounting Personal Services Employee Benefits Contractual Services Commodities Total Accounting 4 Amount Amount Budgeted Levied 27,960 0 8,955 0 0 0 3,636 0 0 0 2,125 0 1,250 0 43,926 0 170,262 0 90,790 35,726 1,700 29,040 1,600 4,400 163,256 0 0 0 0 0 0 0 125,820 0 35,013 0 4,650 0 20,750 0 6,700 0 7,000 0 2,200 0 202,] 33 0 273,490 0 107,090 0 4,925 0 2,000 0 387,505 0 VILLAGE OF MOUNT PROS:PECT,ILLINOIS 2004 TAX LEVY Amount Amount Budgeted Levied 04 Duplicating Services Contractual Services 6,265 0 Commodities & Supplies 6,400 0 Total Duplicating Services 12,665 0 05 Insurance Program Personal Services 46,850 0 Employee Benefits 15,136 0 Insurance 302,479 0 Total Insurance Program 364,465 0 06 Customer Services Personal Services 224,420 0 Employee Benefits 80,492 0 Contractual Services 44,300 0 Commodities & Supplies 8,500 0 Total Customer Services 357,712 0 07 Cash Management Personal Services 33,330 0 Employee Benefits 10,521 0 Total Cash Management 43,851 0 Total Finance Department 1,368,331 0 21 Community Development Department 01 Community Development Administration Personal Services 144,080 0 Employee Benefits 39,789 0 Other Employee Costs 1,491 0 Contractual Services 0 0 Utilities 3,835 0 Commodities & Supplies 518 0 Total Community Development Administration 189,713 0 02 Planning & Zoning Personal Services 99,360 0 Employee Benefits 34,362 0 Other Employee Costs 2,276 0 Contractual Services 18,128 0 Utilities 3,788 0 Commodities & Supplies 2,330 0 Total Planning & Zoning 160,244 0 5 VILLAGE OF MOUNT PROSPECT, ILLINOIS 2004 TAX LEVY 03 Economic DeveJopment Personal Services Employee Benefits Other Employee Costs Contractual Services Total Economic Development 05 Building Inspections Personal Services Employee Benefits Other Employee Costs Contractual Services Utilities Commodities & Supplies Office Equipment Total Building Inspections 06 Housing Inspections Personal Services Employee Benefits Other Employee Costs Contractual Services Utilities Commodities & Supplies Total Housing Inspections 07 Health Inspections Personal Services Employee Benefits Other Employee Costs Contractual Services Utilities Commodities & Supplies Total Health Inspections Total Community Development Dept. 6 Amount Amount Budgeted Levied 44,480 0 12,035 0 683 0 37,200 0 94,398 0 449,330 0 183,860 0 5,888 0 56,188 0 10,945 0 11,050 0 0 0 717,261 0 210,590 0 74,254 0 2,000 0 13,175 0 4,027 0 2,250 0 306,296 0 69,145 0 25,523 0 828 0 13,329 0 2,309 0 1,000 0 112,134 0 1,580,046 0 VILLAGE OF MOUNT PROSPECT, ILLINOIS 2004 TAX LEVY Amount Budgeted Amount Levied 31 Human Services Department 01 Human Services Administration Personal Services 105,540 0 Employee Benefits 30,804 0 Other Employee Costs 1,900 0 Contractual Services 61,544 0 Utilities 9,180 0 Commodities & Supplies 3,950 0 Office Equipment 1,500 0 Other Equipment 0 0 Total Human Services Administration 214,418 0 02 Social Services Personal Services 211,250 0 Employee Benefits 70,713 0 Other Employee Costs 1,650 0 Contractual Services 266 0 Commodities & Supplies 0 0 Total Social Services 283,879 0 03 Nursing/Health Services Personal Services 90,310 0 Employee Benefits 29,608 0 Other Employee Costs 250 0 Contractual Services 27,264 0 Commodities & Supplies 32,325 0 Other Equipment 0 0 Total Nursing/Health Services 179,757 0 04 Senior Center Leisure Programs Personal Services 18,475 0 Employee Benefits 6,913 0 Contractual Services 17,976 0 Commodities & Supplies 800 0 Total Senior Programs 44,164 0 7 41 VILLAGE OF MOUNT PROSPECT, ILLINOIS 2004 TAX LEVY 05 Youth Activities Personal Services Employee Benefits Other Employee Costs Contractual Services Commodities & Supplies Total Senior Programs Total Human Services Department Police Department 01 Police Administration Personal Services Employee Benefits Other Employee Costs Contractual Services Utilities Commodities & Supplies Office Equipment Total Police Administration 02 Patrol and Traffic Enforcement Personal Services Employee Benefits Contractual Services Commodities & Supplies Office Equipment Other Equipment Total Patrol and Traffic Enforcement 03 Crime Prevention & Public Services Personal Services Employee Benefits Other EmpJoyee Costs Contractual Services Commodities & Supplies Total Crime Prevention & Public Services 8 Amount Budgeted Amount Levied 52,215 9,082 100 252 1,000 62,649 784,867 0 0 0 0 0 0 0 764,085 0 1,352,935 0 78,450 0 69,700 0 52,000 0 9,775 0 650 0 2,327,595 0 5,344,660 3,636,842 973,616 0 528,360 0 43,930 0 500 0 11,300 0 6,902,366 3,636,842 185,635 0 32,604 0 1,000 0 2,200 0 6,050 0 227,489 0 42 VILLAGE OF MOUNT PROSPECT, ILLINOIS 2004 TAX LEVY 04 Investigative and Juvenile Program Personal Services Employee Benefits Contractual Services Commodities & Supplies Office Equipment Other Equipment Total Investigative and Juvenile Program 05 Crossing Guards Personal Services Employee Benefits Commodities & Supplies Total Crossing Guards 06 Equipment Maintenance & Operations Contractual Services Commodities & Supplies Other Equipment Total Equipment Maintenance & Operations Total Police Department Fire Department 01 Fire Administration Personal Services Employee Benefits Other Employee Costs Contractual Services Utilities Commodities & Supplies Office Equipment Other Equipment Total Fire Administration 02 Fire Department Operations Personal Services Employee Benefits Other Employee Costs Contractual Services Commodities & Supplies Building Improvements Other Equipment Total Fire Department Operations 9 Amount Amount Budgeted Levied 982,160 0 160,242 0 21,175 0 3,000 0 0 0 0 0 1,166,577 0 24,700 0 1,900 0 150 0 26,750 0 625,161 0 8,000 0 9,750 0 642,911 0 11,293,688 3,636,842 549,060 1,277,215 55,600 30,930 250 7,500 5,000 8,010 1,933,565 0 0 0 0 0 0 0 ° 0 4,924,200 780,160 24,900 135,370 11,750 5,000 51,160 5,932,540 2,857,520 0 0 0 ° 0 0 2,857,520 VILLAGE OF MOUNT PROSPECT, ILLINOIS 2004 TAX LEVY 03 Fire Training Academy Personal Services Employee Benefits Commodities & Supplies Total Fire Training Academy Amount Amount Budgeted Levied 9,000 0 140 0 4,000 0 13,140 0 300,910 0 100,090 0 4,890 0 1,750 0 5,760 0 1,000 0 414,400 0 15,300 0 42,500 0 300 0 2,000 0 60,100 0 109,920 0 38,582 0 1,000 0 236,968 0 46,500 0 500 0 433,470 0 1,000 0 4,300 0 5,200 0 10,500 0 20,300 0 1,860 0 8,525 0 1,000 0 31,685 0 8,829,400 2,857,520 04 Fire Prevention Personal Services Employee Benefits Other Employee Costs Contractual Services Commodities & Supplies Other Equipment Total Fire Prevention 05 Fire Communications Contractual Services Utilities Commodities & Supplies Other Equipment Total Fire Communications 06 Equipment Maintenance Personal Services Employee Benefits Other Employee Costs Contractual Services Commodities & Supplies Other Equipment Total Equipment Maintenance 07 Emergency Preparedness Other Employee Costs Contractual Services Commodities & Supplies Total Emergency Preparedness 08 Paid-On-Call Program Personal Services Employee Benefits Other Employee Costs Other Equipment Total Paid-On-Call Program Total Fire Department 10 VILLAGE OF MOUNT PROSPECT, ILLINOIS 2004 TAX LEVY 50 Public Works - Administration 01 Public Works Administration Personal Services Employee Benefits Other Employee Costs Contractual Services Utilities Commodities & Supplies Office Equipment Other Equipment Total Public Works Administration 51 Public Works - Streets/BIdgs/Parking 01 Street Division Administration Personal Services Employee Benefits Total Street Division Administration 02 Maintenance of Public Buildings Personal Services Employee Benefits Contractual Services Utilities Commodities & Supplies Total Maintenance of Public Buildings 04 Street Maintenance Personal Services Employee Benefits Contractual Services Commodities & Supplies Infrastructure Total Street Maintenance 05 Snow Removal Personal Services Employee Benefits Contractual Services Commodities & Supplies Other Equipment Total Snow Removal 11 Amount Budgeted Amount Levied 217,705 107,427 23,700 626,004 17,955 7,400 1,000 560 1,001,751 0 0 0 0 0 0 0 0 0 124,890 0 29,857 0 154,747 0 329,950 0 104,585 0 187,510 0 12,700 0 67,260 0 702,005 0 147,850 0 40,720 0 34,500 0 15,200 0 110,000 0 348,270 0 158,965 0 37,314 0 34,800 0 6,635 0 0 0 237,714 0 VILLAGE OF MOUNT PROSPECT, ILLINOIS 2004 TAX LEVY Amount Amount Budgeted Levied 07 Storm Sewer and Basin Maintenance Personal Services 107,420 0 Employee Benefits 34,849 0 Contractual Services 10,600 0 Commodities & Supplies 6,100 0 Total Storm Sewer and Basin Maintenance 158,969 0 08 Maintenance of State Highways Personal Services 19,875 0 Employee Benefits 6,295 0 Contractual Services 17,070 0 Commodities & Supplies 21,460 0 Total Maintenance of State Highways 64,700 0 09 Traffic Sign Maintenance Personal Services 66,670 0 Employee Benefits 20,577 0 Commodities & Supplies 18,170 0 Total Traffic Sign Maintenance 105,417 0 Total Public Works - Streets/Bldgs/Parking 1,771,822 0 52 Public Works - Forestry/Grounds 01 Forestry Division Administration Personal Services 150,710 0 Employee Benefits 44,665 0 Total Forestry Division Administration 195,375 0 02 Maintenance of Grounds Personal Services 219,125 0 Employee Benefits 64,563 0 Contractual Services 99,865 0 Commodities & Supplies 6,260 0 Other Equipment 5,770 0 Total Maintenance of Grounds 395,583 0 03 Forestry Program Personal Services 240,230 0 Employee Benefits 77,465 0 Other Employee Costs 750 0 Contractual Services 302,740 0 Commodities & Supplies 9,480 0 Total Forestry Program 630,665 0 12 VILLAGE OF MOUNT PROSPECT, ILLINOIS 2004 TAX LEVY 04 Public Grounds Beautification Personal Services Employee Benefits Contractual Services Commodities & Supplies Total Public Grounds Beautification Total Public Works - Forestry/Grounds 52 Public Works - Engineering 0] Engineering Services Personal Services Employee Benefits Other Employee Costs Contractual Services Commodities & Supplies Office Equipment Other Equipment Total Engineering Services 05 Traffic Control & Street Lighting Personal Services Employee Benefits Contractual Services Utilities Commodities & Supplies Total Traffic Signals & Street Lighting Tota] Public Works - Engineering 61 Conmmnity Service Programs 01 Community Groups & Misc. Contractual Services Other Expenditures Tota] Community Groups & Misc. 03 4th of July & Civic Events, Etc. Personal Services Employee Benefits Contractual Services Utilities Commodities & Supplies Total 4th of July & Civic Events, Etc. 13 Amount Budgeted Amount Levied 2],410 6,535 4,500 9,170 41,615 1,263,238 0 0 0 0 0 0 468,330 0 139,856 0 3,450 0 50,857 0 6,095 0 500 0 1,500 0 670,588 0 72,410 0 22,978 0 4,000 0 95,000 0 19,000 0 213,388 0 883,976 0 81,900 0 7,000 0 88,900 0 47,000 0 7,125 0 50,750 0 300 0 12,800 0 117,975 0 VILLAGE OF MOUNT PROSPECT, ILLINOIS 2004 TAX LEVY 04 Holiday Decorations Personal Services Employee Benefits Contractual Services Utilities Commodities & Supplies Total HoJiday Decorations 05 Blood Donor Program Personal Services Employee Benefits Commodities & Supplies Total Blood Donor Program Total Community Service Programs 82 Retiree Pensions 01 Miscellaneous Pensions Pension Benefits Total Miscellaneous Pensions Total Retiree Pensions 89 Non-Departmental 01 Contingencies Interfund Transfers Total Contingencies Total Non-Departmental TOTAL GENERAL FUND TOT AL BUDGET FOR GENERAL FUND AMOUNT TO BE RAISED BY TAX LEVY ADD 2% FOR LOSS & COST OF COLLECTION TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR GENERAL FUND 14 Amount Amount Budgeted Levied 6,540 0 2,092 0 51,595 0 100 0 8,900 0 69,227 0 1,850 0 150 0 800 0 2,800 0 278,902 0 53,714 53,714 53,714 0 0 0 270,000 0 270,000 0 270,000 0 31,655,480 6,494,362 31,655,480 6,494,362 129,887 6,624,249 VILLAGE OF MOUNT PROSPECT, ILLINOIS 2004 TAX LEVY ARTICLE II - REFUSE DISPOSAL FUND 56 Public Works - Refuse Disposal 01 Refuse Disposal Program Personal Services Employee Benefits Other Employee Costs Contractual Services Utilities Insurance Commodities & Supplies Total Refuse Disposal Program 2 Refuse Leaf Removal Program Personal Services Employee Benefits Commodities & Supplies Total Leaf Removal Program TOTAL REFUSE DISPOSAL FUND TOTAL BUDGET FOR REFUSE DISPOSAL FUND AMOUNT TO BE RAISED BY TAX LEVY ADD 2% FOR LOSS & COST OF COLLECTION TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR REFUSE DISPOSAL FUND ARTICLE III - SERIES 1987A DEBT SERVICE FUND, PUBLIC BUILDINGS 81 Debt Service 02 G.O.Bonds - Property Taxes Bond Principal Interest Expense Bank and Fiscal Fees Total G.O.Bonds - Property Taxes Total Debt Service TOTAL SERiES 1987A DEBT SERVICE FUND TOTAL BUDGET FOR SERIES 1987A DEBT SERVICE FUND, PUBLIC BUILDINGS AMOUNT TO BE RAISED BY TAX LEVY ADD 2% FOR LOSS & COST OF COLLECTION TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR SERIES 1987A DEBT SERVICE FUND, PUBLIC BUILDINGS 15 Amount Budgeted Amount Levied 77,560 0 25,482 0 750 0 3,236,561 2,244,922 545 0 4,298 0 17,045 0 3,362,241 2,244,922 124,445 0 35,236 0 11,300 0 170,981 0 3,533,222 2,244,922 3,533,222 2,244,922 44,898 2,289,820 40,198 40,198 110,802 110,802 0 0 151,000 151,000 151,000 151,000 151,000 151,000 151,000 0 151,000 3,020 154,020 VILLAGE OF MOUNT PROSPECT, ILLINOIS 2004 TAX LEVY ARTICLE IV - SERIES 1996A DEBT SERVICE FUND, FLOOD CONTROL 81 Debt Service 04 G.O.Bonds - F]ood Control Bond Principal Interest Expense Bank and Fisca] Fees Total G.O.Bonds - Flood Control Total Debt Service TOTAL SERlES 1996A DEBT SERVICE FUND TOTAL BUDGET FOR SERlES 1996A DEBT SERVICE FUND, FLOOD CONTROL AMOUNT TO BE RAISED BY TAX LEVY ADD 2% FOR LOSS & COST OF COLLECTION TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR SERIES 1996A DEBT SERVICE FUND, FLOOD CONTROL ARTICLE V - SERIES 1998A DEBT SERVICE FUND, FLOOD CONTROL 81 Debt Service 04 G.O.Bonds - Flood Control Bond Principal Interest Expense Bank and Fiscal Fees Total G.O.Bonds - Flood Control Total Debt Service TOTAL SERIES 1998A DEBT SERVICE FUND TOTAL BUDGET FOR SERlES 1998A DEBT SERVICE FUND, FLOOD CONTROL AMOUNT TO BE RAISED BY TAX LEVY ADD 2% FOR LOSS & COST OF COLLECTION TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR SERlES 1998A DEBT SERVICE FUND, FLOOD CONTROL ]6 195,000 0 17,200 0 900 0 213,100 0 213, I 00 0 213,100 0 213,100 0 0 0 55,000 0 7,683 0 300 0 62,983 0 62,983 0 62,983 0 62,983 0 0 0 Amount Budgeted Amount Levied VILLAGE OF MOUNT PROSPECT, ILLINOIS 2004 TAX LEVY ARTICLE VI - SERIES 1998C DEBT SERVICE FUND, DOWNTOWN REDEVELOPMENT 81 Debt Service 03 G.O.Bonds - Tax Increment Bond Principal Interest Expense Bank and Fiscal Fees Total G.O.Bonds - Tax Increment Tota] Debt Service TOTAL SERIES 1998C DEBT SERVICE FUND TOTAL BUDGET FOR SERIES 1998C DEBT SERVICE FUND AMOUNT TO BE RAISED BY TAX LEVY ADD 2% FOR LOSS & COST OF COLLECTION TOT AL AMOUNT TO BE RAISED BY TAX LEVY FOR SERIES 1998C DEBT SERVICE FUND, DOWNTOWN REDEVELOPMENT ARTICLE VII - SERIES 1999 DEBT SERVICE FUND, DOWNTOWN REDEVELOPMENT 81 Debt Service 03 G.O.Bonds - Tax Increment Bond Principal Interest Expense Bank and Fiscal Fees Total G.O.Bonds - Tax Increment Total Debt Service TOTAL SERIES ]999 DEBT SERVICE FUND TOTAL BUDGET FOR SERIES 1999 DEBT SERVICE FUND AMOUNT TO BE RAISED BY TAX LEVY ADD 2% FOR LOSS & COST OF COLLECTION TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR SERIES 1999 DEBT SERVICE FUND, DOWNTOWN REDEVELOPMENT 17 Amount Budgeted Amount Levied 130,000 0 22,695 0 600 0 153,295 0 153,295 0 153,295 0 153,295 0 0 0 680,000 0 225,600 0 600 0 906,200 0 906,200 0 906,200 0 906,200 0 0 0 VILLAGE OF MOUNT PROSPECT, ILLINOIS 2004 TAX LEVY ARTICLE VIII - SERIES 2000 DEBT SERVICE FUND, FLOOD CONTROL 81 Debt Service 04 G.O.Bonds - Flood Control Bond Principal Interest Expense Bank and Fiscal Fees Total G.O.Bonds - Flood Control Total Debt Service TOTAL SERlES 2000 DEBT SERVICE FUND TOTAL BUDGET FOR SERlES 2000 DEBT SERVICE FUND, FLOOD CONTROL AMOUNT TO BE RAISED BY TAX LEVY ADD 2% FOR LOSS & COST OF COLLECTION TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR SERlES 2000 DEBT SERVICE FUND, FLOOD CONTROL ARTICLE IX - SERIES 2001 DEBT SERVICE FUND, PUBLIC BUILDINGS 81 Debt Service 02 G.O.Bonds - Property Taxes Bond Principal Interest Expense Bank and Fiscal Fees Total G.O.Bonds - Property Taxes Total Debt Service TOTAL SERlES 2001 DEBT SERVICE FUND TOTAL BUDGET FOR SERIES 2001 DEBT SERVICE FUND, PUBLIC BUILDINGS AMOUNT TO BE RAISED BY TAX LEVY ADD 2% FOR LOSS & COST OF COLLECTION TOT AL AMOUNT TO BE RAISED BY TAX LEVY FOR SERIES 2001 DEBT SERVICE FUND, PUBLIC BUILDINGS 18 180,000 0 11 1,498 0 600 0 292,098 0 292,098 0 292,098 0 292,098 0 0 0 190,000 190,000 199,528 199,528 600 0 390,128 389,528 390,128 389,528 390,128 389,528 390,128 389,528 7,791 397,319 Amount Budgeted Amount Levied VILLAGE OF MOUNT PROSPECT, ILLINOIS 2004 TAX LEVY Amount Budgeted Amount Levied 81 ARTICLE X - SERIES 2002A DEBT SERVICE FUND, DOWNTOWN REDEVELOPMENT Debt Service 03 G.O.Bonds - Tax Increment Bond Principal Interest Expense Bank and FiscaJ Fees Total G.O.Bonds - Tax Increment Tota] Debt Service TOTAL SERIES 2002A DEBT SERVICE FUND TOTAL BUDGET FOR SERiES 2002A DEBT SERVICE FUND, DOWNTOWN RED. AMOUNT TO BE RAISED BY TAX LEVY ADD 2% FOR LOSS & COST OF COLLECTION TOT AL AMOUNT TO BE RAISED BY TAX LEVY FOR SERIES 2002A DEBT SERVICE FUND, DOWNTOWN REDEVELOPMENT ARTICLE XI - SERIES 2002B DEBT SERVICE FUND, PUBLIC BUILDINGS 8] Debt Service 02 G.O.Bonds - Property Taxes Bond Principal Interest Expense Bank and Fiscal Fees Tota] G.O.Bonds - Property Taxes Tota] Debt Service TOTAL SERIES 2002B DEBT SERVICE FUND TOTAL BUDGET FOR SERiES 2002B DEBT SERVICE FUND, PUBLIC BUILDINGS AMOUNT TO BE RAISED BY TAX LEVY ADD 2% FOR LOSS & COST OF COLLECTION TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR SERIES 2002B DEBT SERVICE FUND, PUBLIC BUILDINGS 19 35,000 0 1,050 0 600 0 36,650 0 36,650 0 36,650 0 36,650 0 0 0 591,700 531,]77 ] 7,751 0 600 0 610,051 531,177 610,051 531,177 610,051 531,177 610,051 531,177 10,624 541,801 VILLAGE OF MOUNT PROSPECT, ILLINOIS 2004 TAX LEVY ARTICLE XII - SERIES 2002B DEBT SERVICE FUND, FLOOD CONTROL 8] Debt Service 04 G.O.Bonds - Flood Control Bond Principal Interest Expense Bank and Fiscal Fees Total G.O.Bonds - Flood Control Total Debt Service TOTAL SERIES 2002B DEBT SERVICE FUND TOT AL BUDGET FOR SERlES 2002B DEBT SERVICE FUND, FLOOD CONTROL AMOUNT TO BE RAISED BY TAX LEVY ADD 2% FOR LOSS & COST OF COLLECTION TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR SERlES 2002B DEBT SERVICE FUND, FLOOD CONTROL ARTICLE XIII - SERIES 2002B DEBT SERVICE FUND, WATER IMPROVEMENTS 8] Debt Service G.O.Bonds - Water and Sewer Revenues Bond Principal Interest Expense Bank and Fiscal Fees Total G.O.Bonds - Water and Sewer Revenues Total Debt Service TOTAL SERlES 2002B DEBT SERVICE FUND TOTAL BUDGET FOR SERIES 2002B DEBT SERVICE WATER IMPROVEMENTS AMOUNT TO BE RAISED BY TAX LEVY ADD 2% FOR LOSS & COST OF COLLECTION TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR SERlES 2002B DEBT SERVICE FUND, WATER IMPROVEMENTS 20 238,700 0 7,161 0 600 0 246,461 0 246,461 0 246,461 0 246,461 0 0 0 79,600 0 2,388 0 500 0 82,488 0 82,488 0 82,488 0 82,488 0 0 0 Amount Budgeted Amount Levied VILLAGE OF MOUNT PROSPECT, ILLINOIS 2004 TAX LEVY ARTICLE XIV - SERIES 2003 DEBT SERVICE FUND, PUBLIC BUILDINGS 81 Debt Service 02 G.O.Bonds - Property Taxes Bond Principal Interest Expense Bank and Fiscal Fees Total G.O.Bonds - Property Taxes Total Debt Service TOTAL SERIES 2001 DEBT SERVICE FUND TOTAL BUDGET FOR SERIES 2003 DEBT SERVICE FUND, PUBLIC BUILDINGS AMOUNT TO BE RAISED BY TAX LEVY ADD 2% FOR LOSS & COST OF COLLECTION TOTAL AMOUNT TO BE RAISED BY T AX LEVY FOR SERIES 2003 DEBT SERVICE FUND, PUBLIC BUILDINGS ARTICLE XV - POLICE PENSION FUND 82 Retiree Pensions 02 Police Pensions Pension Benefits Contractual Services Commodities and Supplies Total Police Pensions Total Retiree Pensions TOTAL POLICE PENSION FUND TOTAL BUDGET FOR POLICE PENSION FUND AMOUNT TO BE RAISED BY TAX LEVY ADD 2% FOR LOSS & COST OF COLLECTION TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR POLICE PENSION FUND 21 Amount Budgeted Amount Levied 450,000 106,332 461,332 0 600 0 911 ,932 106,332 911,932 106,332 911,932 106,332 911,932 106,332 2,127 108,459 2,224,670 945,396 1,250 0 200 0 2,226,120 945,396 2,226,120 945,396 2,226,120 945,396 2,226,120 945,396 18,908 964,304 VILLAGE OF MOUNT PROSPECT, ILLINOIS 2004 TAX LEVY ARTICLE XVI - FIREFIGHTERS' PENSION FUND 82 Retiree Pensions 03 Firefighters' Pensions Pension Benefits Contractual Services Total Firefighters' Pensions Total Retiree Pensions TOTAL FIREFIGHTERS' PENSION FUND TOTAL BUDGET FOR FIREFIGHTERS' PENSION FUND AMOUNT TO BE RAISED BY TAX LEVY ADD 2% FOR LOSS & COST OF COLLECTION TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR FIREFIGHTERS' PENSION FUND ARTICLE XVII - MOUNT PROSPECT LIBRARY FUND 95 Mount Prospect Library 02 Library Services Component Unit Expenditures Bond Principal Interest Expense Total Library Services TOTAL MOUNT PROSPECT LIBRARY FUND TOTAL BUDGET FOR MOUNT PROSPECT LIBRARY FUND AMOUNT TO BE RAISED BY TAX LEVY ADD 2% FOR LOSS & COST OF COLLECTION TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR MOUNT PROSPECT LIBRARY FUND 22 Amount Budgeted Amount Levied 2,266,330 994,062 700 0 2,267,030 994,062 2,267,030 994,062 2,267,030 994,062 2,267,030 994,062 19,881 1,013,943 22,046,400 5,350,207 660,000 660,000 923,675 923,675 23,630,075 6,933,882 23,630,075 6,933,882 23,630,075 6,933,882 138,678 7,072,560 Section 3: The sum of $238,100 is estimated to be received from personal property replacement tax revenue during the fiscal year commencing January 1, 2004 and ending December 31, 2004 and has been included herein as funds to be derived from sources other than property taxes for general obligation bonds and interest, pensions, library services and general corporate purposes. Section 4: That the County Clerk is directed to add 2% to the requested tax levy as a provision for loss and cost. Section 5: That the Village Clerk of the Village of Mount Prospect is hereby directed to certify a copy of this Ordinance and is hereby authorized and directed to file a copy of the same with the County Clerk of Cook County, Illinois, within the time specified by law. Section 6: That, if any part or parts of this Ordinance shall be held to be unconstitutional or otherwise invalid, such constitutionality or invalidity, shall not affect the validity of the remaining parts of this Ordinance. The President and Board of Trustees of the Village of Mount Prospect hereby declares that they would have passed the remaining parts of the Ordinance of they had known that such parts or parts thereof would be declared unconstitutional or otherwise invalid. Section 7: That this Ordinance shall be in full force and effect from and after its passage, approval, publication in pamphlet form and recording, as provided by law. AYES: NAYES: ABSENT: PASSED and APPROVED this - day of December, 2004. Gerald L. Farley, Village President ATTEST: Velma W. Lowe, Village Clerk 24 VILLAGE OF MOUNT PROSPECT, ILLINOIS 2004 TAX LEVY SUMMARY Amount Total to be Raised Amount Tax Levy Amount by for Loss Inc!. Loss Article Fund Budgeted Tax Levy and Cost and Cost I General $ 31,655,480 6,494,362 129,887 6,624,249 II Refuse Disposal 3,533,222 2,244,922 44,898 2,289,820 III Series 1987 A Debt Service, Public Bids. 151,000 151,000 3,020 154,020 IV Series 1996A Debt Service, Flood Ctr!. 213,100 0 (a) 0 0 V Series 1998A Debt Service, Flood Ctr!. 62,983 0 (a) 0 0 VI Series 1998C Debt Service, TIF 153,295 0 (a) 0 0 VII Series 1999 Debt Service, TIF 906,200 0 (a) 0 0 VlII Series 2000 Debt Service, Flood Ctr!. 292,098 0 (a) 0 0 IX Series 2001 Debt Service, Public Bldgs 390,128 389,528 7,791 397,319 X Series 2002A Debt Service, TIF 36,650 0 (a) 0 0 XI Series 2002B Debt Service, Public Bldgs 610,051 531,]77 (a) 10,624 541,801 XII Series 2002B Debt Service, Flood Ctr!. 246,461 0 (a) 0 0 XIII Series 2002B Debt Service, Water 82,488 0 (a) 0 0 XIV Series 2003 Debt Service, Public Bldgs. 9] 1,932 106,332 (a) 2,]27 108,459 XV Police Pension Fund 2,226,120 945,396 18,908 964,304 XVI Firefighters' Pension Fund 2,267,030 994,062 ]9,881 ],013,943 Village Totals 43,738,238 1 ],856,779 237,136 12,093,915 XVII Mount Prospect Library Library Services 22,046,400 5,350,207 ]07,004 5,457,2] 1 Series 2002 Library Bonds Debt Service 1,583,675 1,583,675 31,674 1,6]5,349 Library Totals 23,630,075 6,933,882 138,678 7,072,560 Village and Library Totals 67,368,313 18,790,66] 375,814 19,166,475 (a) Amount to be raised by tax levy has been reduced by planned abatements totaling $2,871,849. 23 ." ORDINANCE NO. AN ORDINANCE AUTHORIZING THE LEVY AND COLLECTION OF TAXES FOR THE MUNICIPAL PURPOSES OF SPECIAL SERVICE AREA NUMBER FIVE AND SPECIAL SERVICE AREA NUMBER SIX OF THE VILLAGE OF MOUNT PROSPECT FOR THE FISCAL YEAR BEGINNING JANUARY 1,2004 AND ENDING DECEMBER 31,2004 PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES the - day of , 2004 Published in pamphlet form by authority of the corporate authorities of the Village of Mount Prospect, Illinois the - day of , 2004. B ORDINANCE NO. AN ORDINANCE AUTHORIZING THE LEVY AND COLLECTION OF TAXES FOR THE MUNICIPAL PURPOSES OF SPECIAL SERVICE AREA NUMBER FIVE AND SPECIAL SERVICE AREA NUMBER SIX OF THE VILLAGE OF MOUNT PROSPECT FOR THE FISCAL YEAR BEGINNING JANUARY 1, 2004 AND ENDING DECEMBER 31, 2004 NOW THEREFORE, BE IT ORDAINED BY THE President and Board of Trustees of the Village of Mount Prospect, Cook County, Illinois: Section 1: That the sum of One Million Five Hundred Fifteen Thousand Four Hundred Sixty- Four Dollars ($1,515,464), the same being the total amount to be levied of budget appropriations heretofore made for the municipal purposes for the fiscal year beginning January 1, 2004, and ending December 31, 2004, as approved by the President and Board of Trustees of the Village of Mount Prospect, be and the same is hereby levied on all taxable property within the Special Service Area Number 5 of the Village of Mount Prospect according to the valuation of said property as is, or shall be, assessed or equalized by State and County purposes for the CUlTent year 2004. The budgetary appropriations having been made heretofore by the President and Board of Trustees of the Village of Mount Prospect were passed and approved by Ordinance No. 5395 at a meeting hereof regularly convened and held in said Village of Mount Prospect, Illinois on the 16th day of December, 2003, and thereafter duly published according to law, the various objects and purposes for said budgetary appropriations were heretofore made are set forth under the column entitled "Amount Budgeted," and the specific amount herein levied for each object and purpose is set forth under the column entitled "Amount Levied" in Article I. Section 2: That the sum of Thirty Seven Thousand Eight Hundred Dollars ($37,800), the same being the total amount to be levied of budget appropriations heretofore made for the municipal purposes for the fiscal year beginning January 1,2004, and ending December 31,2004, as approved by the President and Board of Trustees of the Village of Mount Prospect, be and the same is hereby levied on all taxable property within the Special Service Area Number 6 of the Village of Mount Prospect according to the valuation of said property as is, or shall be, assessed or equalized by State and County purposes for the current year 2004. The budgetary appropriations having been made heretofore by the President and Board of Trustees of the Village of Mount Prospect were passed and approved by Ordinance No. 5395 at a meeting hereof regularly convened and held in said Village of Mount Prospect, Illinois on the 16th day of December, 2003, and thereafter duly published according to law, the various objects and purposes for said budgetary appropriations were heretofore made are set forth under the column entitled "Amount Budgeted," and the specific amount herein levied for each object and purpose is set forth under the column entitled "Amount Levied" in Article II. 1 Amount Budgeted Amount Levied ARTICLE 1 - SPECIAL SERVICE AREA NO.5 61 Lake Water Acquisition 6105512-540800 6105512-540815 TOTAL APPROPRIATED FOR SPECIAL SERVICE AREA NO.5 LAKE WATER ACQUISITION 1,580,700 370,464 1,145,000 1,145,000 2,725,700 1,515,464 30,309 1,545,773 SSA #5 JAWA Water SSA #5 JAWA Fixed Costs AMOUNT TO BE RAISED BY TAX LEVY ADD 2% FOR LOSS AND COST OF COLLECTION TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR SPECIAL SERVICE AREA NO.5 ARTICLE 1\ - SPECIAL SERVICE AREA NO.6 83 Special Service Area No.6 Bond and Interest 8308106-710607 SSA #6 Principal 8308106-720608 SSA #6 Interest TOTAL APPROPRIATED FOR SPECIAL SERVICE AREA NO.6 BOND AND INTEREST 35,000 35,000 5,495 2,800 40,495 37,800 846 38,646 AMOUNT TO BE RAISED BY TAX LEVY ADD 2% FOR LOSS AND COST OF COLLECTION TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR SPECIAL SERVICE AREA NO.6 Article I Special Service Area No.5 II Special Service Area No.6 SUMMARY Amount Budqeted 2,725,700 40,495 Amount to Amount for be Levied Loss & Cost 1,515,464 30.309 37,800 846 Total Tax LeVY 1,545,773 38,646 Section 3: That the County Clerk is directed to add 2% to the requested tax levy as a provision for loss and cost. Section 4: That the Village Clerk of the Village of Mount Prospect is hereby directed to certify a copy of this Ordinance and is hereby authorized and directed to file a copy of the same with the County Clerk of Cook County, Illinois, within the time specified by law. Section 5: That, if any part of this Ordinance shall be held to be unconstitutional or otherwise invalid, such unconstitutionality or invalidity, shall not affect the validity of the remaining parts of this Ordinance. The President and Board of Trustees of the Village of Mount Prospect hereby declares that they would have passed the remaining parts of the Ordinance if they had known that such part or parts thereof would be declared unconstitutional or otherwise invalid. Section 6: That this Ordinance shall be in full force and effect from and after its passage, approval, publication in pamphlet fonn and recording, as provided by law. AYES: NAYS: ABSENT: PASSED and APPROVED this day of ,2004 Gerald L. Farley, Village President ATTEST: Velma W. Lowe, Village Clerk 2 .' " ORDINANCE NO. AN ORDINANCE TO ABATE A PART OF THE TAXES LEVIED FOR CORPO- RATE AND MUNICIPAL PURPOSES OF THE VILLAGE OF MOUNT PROSPECT, ILLINOIS FOR THE FISCAL YEAR BEGINNING JANUARY 1, 2004 AND ENDING DECEMBER 31, 2004 PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES the.- day of ,2004 Published in pamphlet form by authority of the corporate authorities of the Village of Mount Prospect, Illinois, the - day of , 2004. ~ . ORDINANCE NO. AN ORDINANCE TO ABATE A PART OF THE TAXES LEVIED FOR CORPO- RATE AND MUNICIPAL PURPOSES OF THE VILLAGE OF MOUNT PROSPECT, ILLINOIS FOR THE FISCAL YEAR BEGINNING JANUARY 1, 2004 AND ENDING DECEMBER 31, 2004 BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS: Section One: The President and Board of Trustees of the Village of Mount Prospect find as follows: A. That pursuant to Village Ordinance No. 4780 adopted March 6, 1996 and authorizing issuance of general obligation bonds for financing flood control capital improvement projects within the Village there was levied for the year 2004 the sum of$212,200.00 for bond principal and interest payments. B. That pursuant to Village Ordinance No. 4917 adopted March 18, 1998 and authorizing issuance of general obligation bonds for financing flood control capital improvement projects within the Village there was levied for the year 2004 the sum of $62,683.00 for bond principal and interest payments. C. That pursuant to Village Ordinance No. 4977 adopted December 1, 1998 and authorizing issuance of general obligation bonds for financing land acquisition costs and other redevelopment costs within the Village's District No.1 Tax Increment Redevelopment Project Area there was levied for 2004 the sum of$152,695.00 for bond principal and interest payments. D. That pursuant to Village Ordinance No. 4999 adopted March 2, 1999 and authorizing issuance of general obligation bonds for financing the acquisition ofland within the Village's District No.1 Tax Increment Redevelopment Project Area there was levied for the year 2004 the sum of$905,600.00 for bond principal and interest payments. E. That pursuant to Village Ordinance No. 5114 adopted June 6, 2000 and authorizing issuance of general obligation bonds for financing various flood control capital improvement projects there was levied for the year 2004 the sum of$291 ,498.00 for bond principal and interest payments. ,¡ i F. That pursuant to Village Ordinance No. 5236 adopted March 5, 2002 and authorizing the issuance of general obligation refunding bonds, Series 2002A, and general obligation refunding bonds, Series 2002B, to refund the Village's Series 1993A bonds, Series 1993B bonds, and Series 1994A bonds, there was levied for the year 2004 the sum of $973,350.00 for bond principal and interest payments. G. That pursuant to Village Ordinance No. 5301 adopted January 21, 2003 and authorizing issuance of general obligation bonds for financing a portion of the costs of constructing a new village hall and community center as well as a multi-level parking deck there was levied for the year 2004 the sum of $911,332.00 for bond principal and interest payments. H. That as of December 1, 2004 there has been collected, deposited to and on hand in the Series 1996A General Obligation Bond and Interest Funds the sum of $212,200.00 for application to bond principal and interest payments for the bonds issued pursuant to Village Ordinance No. 4780 adopted March 6, 1996. 1. That as of December 1,2004 there has been collected, deposited to and on hand in the Series 1998A General Obligation Bond and Interest Funds the sum of$62,683 .00 for application to bond principal and interest payments for the bonds issued pursuant to Village Ordinance No. 4917 adopted March 18, 1998. J. That as of December 1, 2004 there is available in the Village's Downtown Redevelopment Fund the amount of$152,695.00 for application to bond principal and interest payments for the bonds issued pursuant to Village Ordinance No. 4977 adopted December 1, 1998. K. That as of December 1, 2004 there is available in the Village's Downtown Redevelopment Fund the amount of $905,600.00 for application to bond principal and interest payments for the bonds issued pursuant to Village Ordinance No. 4999 adopted March 2, 1999. L. That as of December 1,2004 there is available in the Village's Series 2000 General Obligation Bond and Interest Fund the sum of $291 ,498.00 for application to bond principal and interest payments for the bonds issued pursuant to Village Ordinance No. 5114 adopted June 6, 2000. M. That as of December 1, 2004 there is available in the Village's Series 2002A and Series 2002B Debt Service Funds the sum of $442,173 for application to bond principal and interest payments for the bonds issued pursuant to Village Ordinance No. 5236 adopted March 5, 2002. N. That as of December 1,2004 there has been collected, deposited to and on hand in the General Fund the sum of$805,000 for application to bond principal and interest payments for the bonds issued pursuant to Village Ordinance No. 5301 adopted January 21, 2003. 2 , Section Two: It is hereby declared and detennined by the President and Board of Trustees of the Village of Mount Prospect that the amount of $212,200.00 levied for G.O. Bond and Interest payments for the purpose of financing flood control capital improvement projects within the Village pursuant to Village Ordinance No. 4780 be and the same is hereby abated in the amount of $212,200.00 being the entire amount levied for such bond and interest payment purposes for the fiscal year commencing January 1,2004 and ending December 31,2004. Section Three: It is hereby declared and detennined by the President and Board of Trustees of the Village of Mount Prospect that the amount of $62,683.00 levied for G.O. Bond and Interest payments for the purpose of financing flood control capital improvement projects within the Village pursuant to Ordinance No. 4917 be and the same is hereby abated in the amount of$62,683.00 being the. entire amount levied for such bond and interest payment purposes for the fiscal year commencing January 1,2004 and ending December 31,2004. Section Four: It is hereby declared by the President and Board of Trustees of the Village of Mount Prospect that the amount of$152,695.00 levied for G.O. Bond and Interest payments for the purpose of funding property acquisition and other redevelopment costs within the Village's District No.1 Tax Increment Redevelopment Project Area pursuant to Ordinance No. 4977 be and the same is hereby abated in the amount of $152,695.00 being the entire amount levied for such bond and interest payment purposes for the fiscal year commencing January 1, 2004 and ending December 31, 2004. Section Five: It is hereby declared by the President and Board of Trustees of the Village of Mount Prospect that the amount of$905,600.00 levied for G.O. Bond and Interest payments for the purpose of funding property acquisition within the Village's District No.1 Tax Increment Redevelopment Project Area pursuant to Ordinance No. 4999 be and the same is hereby abated in the amount of $905,600.00 being the entire amount levied for such bond and interest payment purposes for the fiscal year commencing January 1,2004 and ending December 31,2004. Section Six: It is hereby declared by the President and Board of Trustees of the Village of Mount Prospect that the amount of$291,498.00 levied forG.O. Bond and Interest payments for the purpose of funding various flood control capital improvement projects pursuant to Ordinance No. 5114 be and the same is hereby abated in the amount of$291 ,498.00 being the entire amount levied for such bond and interest payment purposes for the fiscal year commencing January 1, 2004 and ending December 31, 2004. Section Seven: It is hereby declared by the President and Board of Trustees of the Village of Mount Prospect that the amount of$973,350.00 levied for G.O. Bond and Interest payments for the purpose of refunding a portion of the Series 1993A, Series 1993B and Series 1994A bonds pursuant to Ordinance No. 5236 be and the same is hereby abated in the amount of$442,173.00, leaving a balance of$531, 177.00 as that amount levied for such bond and interest payments for the fiscal year commencing January 1,2004 and ending December 31,2004. 3 '!! Section Eight: It is hereby declared and detennined by the President and Board of Trustees of the Village of Mount Prospect that the amount of $911,332.00 levied for G.O. Bond and Interest payments for the purpose of financing a portion of the costs of constructing a new village hall and community center and parking deck pursuant to Ordinance No. 5301 be and the same is hereby abated in the amount of$805,000.00 leaving a balance of$1 06,332.00 as that amount levied for such bond and interest payments for the fiscal year commencing January 1,2004 and ending December 31,2004. Section Nine: Village Ordinance Nos. 4780, 4917, 4977, 4999, 5114, 5236 and 5301 are and each is hereby amended with respect to the tax abatements declared herein and set forth in Sections Two through Eight of this Ordinance. . Section Ten: The Village Clerk ofthe Village of Mount Prospect is hereby authorized and directed to file a certified copy of this Ordinance with the County Clerk of Cook County, Illinois within the time specified by law: Section Eleven: This Ordinance shall be in full force and effect upon its passage, approval and publication in pamphlet fonD and filing as provided by law. AYES: NAYS: ABSENT: PASSED and APPROVED this - day of , 2004. Gerald L. Farley, Village President ATTEST: Velma W. Lowe, Village Clerk 4 1# ~ 'oJ ORDINANCE NO. AN ORDINANCE TO ABATE APART OF THE TAXES LEVIED FOR UNLIMITED TAX BONDS OF SPECIAL SERVICE AREA NUMBER SIX OF THE VILLAGE OF MOUNT PROSPECT, ILLINOIS FOR THE FISCAL YEAR BEGINNING JANUARY 1,2004 AND ENDING DECEMBER 31, 2004 PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES the - day of , 2004 Published in pamphlet fonn by authority of the corporate authorities of the Village of Mount Prospect, Illinois, the - day of , 2004. \) , ORDINANCE NO. AN ORDINANCE TO ABATE A PART OF THE TAXES LEVIED FOR UNLIMITED TAX BONDS OF SPECIAL SERVICE AREA NUMBER SIX OF THE VILLAGE OF MOUNT PROSPECT, ILLINOIS FOR THE FISCAL YEAR BEGINNING JANUARY 1,2004 AND ENDING DECEMBER 31, 2004 BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS: Section One: follows: The President and Board of Trustees of the Village of Mount Prospect find as A. That pursuant to Village Ordinance No. 3950 adopted June 21, 1988 authorizing the issuance of Unlimited Tax Bonds of Special Service Area Number 6 of the Village of Mount Prospect there was levied for the year 2004 the sum of$37,800 for principal and interest payments. B. That as of December 1,2004 there has been collected, deposited to and on hand in the Article I - Unlimited Tax Bond and Interest Fund the sum of $10,000 for application to bond and interest payments for the bonds issued pursuant to Village Ordinance 3950 adopted June 21,1988. Section Two: It is hereby declared and determined by the President and Board of Trustees of this Village that the amount of$37,800 levied for Unlimited Tax Bond and Interest payments of Special Service Area Number 6 of this Village, pursuant to Village Ordinance No. 3950 adopted on June 21, 1988 be and the same is hereby abated in the amount of$l 0,000 leaving a balance of$27,800 as that amount levied for such bond and interest payment purposes for the fiscal year commencing January 1, 2004 and ending December 31, 2004. Section Three: It is hereby declared and determined by the President and Board of Trustees of the Village of Mount Prospect that Village Ordinance 3950 is hereby amended with respect to the tax abatement declared herein and set forth in Section Two of this Ordinance. Section Four: The Village Clerk ofthe Village of Mount Prospect is hereby authorized and directed to file a certified copy of this Ordinance with the County Clerk of Cook County, Illinois within the time specified by law. . " Section Five: This Ordinance shall be in full force and effect upon its passage, approval and publication in pamphlet form and filing as provided by law. AYES: NAYS: ABSENT: PASSED and APPROVED this - day of ,2004. ATTEST: Gerald L. Farley, Village President Velma W. Lowe, Village Clerk 2 \~ r ,\,.,ø, ÎI \ (" \ \ Paddock Publications, Inc. \ \ \ " \ \ II \ \ ' , -- , --.-- í" D 81 H Id \ \ ----'--:;:7.:- ,C\,,: \. "~\¡ al Y era .\ -- \--;~ C\.. ":"~...':., ,.-: ',,---.."'-- \ II "I \ ~), \, , ,.. --.----' \ " \ \",l-' ::------ ~-------- Corporation organized and existing under and by virtue of the laws of the State of Illinois, DOES HEREBY CERTIFY that it is the publisher of the DAILY HERALD. That said DAILY HERALD is a secular newspaper and has been circulated daily in the Village(s) of Algonquin, Arlington Heights, Barrington, Barrington Hills, Lake Barrington, North Barrington, South Barrington, Bartlett, Batavia, Buffalo Grove, Burlington, Carpentersville, Cary, Deer Park, Des Plaines, South Elgin, East Dundee, Elburn, Elgin, Elk Grove Village, Fox Lake,Fox River Grove,Geneva, Gilberts,Grayslake, Gurnee,Hampshire,Hainesville,Hanover Park, Hawthorn Woods, Hoffman Estates, Huntley, Inverness,Island Lake,Kildeer,Lake Villa,Lake in the Hills,Lake Zurich,Libertyville, Lincolnshire, Lindenhurst, Long Grove, Mt. Prospect, Mundelein, Palatine, Prospect Heights, Rolling Meadows, Schaumburg, Sleepy Hollow, St. Charles, Streamwood, Tower Lakes,Vernon Hills,Volo,Wauconda,Wheeling,West Dundee,Wildwood,Green Oaks County(ies) of Cook, Kane, Lake, McHenry and State of Illinois, continuously for more than one year prior to the date of the first publication of the notice hereinafter referred to and is of general circulation throughout said Village(s), County(ies) and State. I further certify that the DAILY HERALD is a newspaper as defined in "an Act to revise the law in relation to notices" as amended in 1992 Illinois Compiled Statutes, Chapter 715, Act 5, Section 1 and 5. That a notice of which the annexed printed slip is a true copy, was published December 2, 2004 in said DAILY HERALD. IN WITNESS WHEREOF, the undersigned, the said PADDOCK PUBLICATIONS, Inc., has caused this certificate to be signed by, this authorized agent, at Arlington Heights, Illino! ' ' PU,UC ,tI~ARJ~G N.()TICE Aputili"fíeaìirìg' on thèpfoRosed 20œ'BudQêffò(the Villag" of Moum Prospect Will be held on Tuesday, Decembèr 21. 2004 at 7:00 p,m. The meeting will bè held in the Village Board Room at Village Hall, 50 South Emerson Street, Mount Prospect, Ulinois. The proposed budget may bèexamìnèd ònweekdays in the Office of the Village Clerk in the Villáge Hall. 50 South EmerS<)n Street between the hours of 8:30 a.m, and 5:00 p,m, All interested persons 10'1111 be given an opportunity to present oral or written comments, ' The proposôd spènding plan is for the fiscal year beginning January 1, 2005 ;m(! ending December 31, 2005. Following is a summary of the proposed budget by fúnd type: Village Funds: Genera! Fund Spåcial ReVenue Funds Debt Service Funds Capital Project Funds Enterprise Funds Intemal Servíœ Funds Pension Funds Total Village Funds Library Funds Total Village and Library Funds $33,927,415 6,243.600 4,541,053 2,378,257 9,581,509 8.428,866 ~ $69,796,088 ~ $78 333 081 ¡PADDOCK PUBLICATIONS, INC. [DAILY HERALD NEWSPAPERS I BY 'ca:11i-t/j <E' i1~~ I Authorized Agen I I Control # T3434813 I I I I MiCHAEL E, JANONIS , Village Ma,nager Published in Daily Herald December 2, 2004. (343481S}N Village of Mount Prospect Mount Prospect, Illinois INTEROFFICE MEMORANDUM FROM: MICHAEL JANONIS, VILLAGE MANAGER DIRECTOR OF FINANCE 1:>b. H~ 12.(2.t (O~ TO: DATE: DECEMBER 10, 2004 SUBJECT: PROPOSED 2005 BUDGET PURPOSE: To present for the Village Board's consideration an ordinance adopting the annual budget for the fiscal year beginning January 1,2005 and ending December 31,2005. BACKGROUND: The Village Manager released his proposed budget on October 5, 2004. Over the past several weeks the Finance Commission met three times to review the document. The Village Board, meetin~ as a Committee of the Whole, reviewed the document on October 26th and November 9 h. DISCUSSION: Attached hereto are changes to the proposed 2005 budget and 2006 forecast that resulted from the above-mentioned meetings held with the Village Board and Finance Commission. Chanaes to the 2005 Proposed Budaet Projected revenues did not change from what was originally presented. Total Village expenditures also remained unchanged, but there were changes to two accounts that offset one another. The contribution to the Historical Society was increased by $2,500 while the Independent Classes account in Human Services was decreased by a like amount. At the time the proposed budget was prepared and distributed, the Mount Prospect Public Library budget, included in the Village's budget as a component unit, was not yet available. The Library's budget for 2005 reflects revenues and expenditures of $8,536,993. Included in their budget is $1,584,675 for debt service on the Series 2002 Library bonds the Village issued on their behalf. 2005 Proposed Budget November 17, 2004 Page 2 Chanaes to 2006 Forecast Budaet There were no changes to the 2006 forecast budget. Summary With the aforementioned changes, the proposed 2005 Budget for the Village totals $69,796,088. This represents an 11.6% decrease over the current 2004 Budget. Projected revenues for the Village in 2005 are $71,102,377. This is an increase of 5.0%. Both the projected revenues and budgeted expenditures for the Mount Prospect Library for 2005 are $8,536,993. A public hearing on the proposed budget has been scheduled for December 21 st. Notice of the public hearing will be published in the Daily Herald on December 2, 2004. The proposed ordinance attached hereto would officially adopt the budget for the Village of Mount Prospect. Once the ordinance is passed, the Finance Department will revise the budget document to incorporate the approved changes. We expect to have the approved budget document produced no later than January 18th. RECOMMENDATION: It is recommended the Village Board pass the accompanying draft ordinance adopting the 2005 annual budget. (~~¿~/ tJJ f" ~~---/ DAVID O. ERB DIRECTOR OF FINANCE DOE/ Attachment 1:\Budget 2005\Ordinance Cover Memo - 2005 Budgetdoc ORDINANCE NO. AN ORDINANCE ADOPTING AN ANNUAL BUDGET FOR THE VILLAGE OF MOUNT PROSPECT FOR THE FISCAL YEAR COMMENCING JANUARY 1, 2005 AND ENDING DECEMBER 31,2005 IN LIEU OF PASSAGE OF AN APPROPRIATION ORDINANCE PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES the - day of ,2004 Published in pamphlet form by authority of the corporate authorities of the Village of Mount Prospect, Illinois the - day of , 2004. ~ ORDINANCE NO. AN ORDINANCE ADOPTING AN ANNUAL BUDGET FOR THE VILLAGE OF MOUNT PROSPECT FOR THE FISCAL YEAR COMMENCING JANUARY 1, 2005 AND ENDING DECEMBER 31, 2005 IN LIEU OF PASSAGE OF AN APPROPRIATION ORDINANCE WHEREAS, the President and Board of Trustees ofthe Village of Mount Prospect in accordance with State Statutes, have provided for the preparation and adoption of an Annual Budget in lieu of passage of an Appropriation Ordinance; and WHEREAS, the tentative Annual Budget for the Village of Mount Prospect for the fiscal year beginning January 1, 2005 and ending December 31, 2005, as prepared by the Budget Officer for the Village and submitted to the President and Board of Trustees, was placed on file in the Office of the Village Clerk on October 5, 2004 for public inspection, as provided by Statute; and WHEREAS, pursuant to notice duly published on December 2, 2004, a public hearing was held by the President and Board of Trustees on said tentative annual budget on December 21, 2004, as provided by Statute; and WHEREAS, following said public hearing, said tentative Annual Budget was reviewed by the President and Board of Trustees and a copy of said tentative Annual Budget is attached hereto and hereby made a part hereof. NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS: SECTION ONE: The Annual Budget for the Village of Mount Prospect for the fiscal year beginning January I, 2005 and ending December 31, 2005, a copy of which is attached hereto and made a part hereof, is hereby approved and adopted as the Annual Budget for the Village of Mount Prospect for said fiscal year. SECTION TWO: Within thirty (30) days following the adoption ofthis Ordinance there shall be filed with the County Clerk of Cook County a copy thereof duly certified by the Village Clerk and Estimate of Revenues by source anticipated to be recei ved by the Village in the fiscal year beginning January 1, 2005 and ending December 31, 2005, duly certified by the Chief Fiscal Officer. SECTION THREE: This Ordinance shall be in full force and effect from and after its passage, approval and publication in pamphlet form in the manner provided by law. AYES: NAYS: ABSENT: PASSED AND APPROVED this day of ,2004. ATTEST: Gerald 1. Farley, Village President Velma W. Lowe, Village Clerk VILLAGE OF MOUNT PROSPECT 2005 PROPOSED BUDGET SUMMARY OF RECOMMENDED CHANGES Account Name Account Number 2005 Original Proposed Budget Recommended Change 2005 Proposed Budget As Amended VILLAGE GENERAL FUND Expenditures Human Services Senior Programs Independent Classes Community & Civic Services Contractual Services M.P. Historical Society Other General Fund Expenditures 0013104-540340 4,000 (2,500) 1,500 35,000 2,500 37,500 33,083,688 0 33,083,688 33,122,688 0 33,122,688 0016102-540980 Village General Fund - Total Expenditures LIBRARY FUND Revenues Property Taxes, Library Services Property Taxes, IMRF & FICA Property Taxes, Building Maintenance & Repair Property Taxes, Insurance & Audit Property Taxes, Bond & Interest Other Revenues 0 4,479,027 4,479,027 0 468,596 468,596 0 277,339 277,339 0 125,245 125,245 0 1,583,675 1,583,675 0 1,603,111 1,603,111 0 8,536,993 8,536,993 Library Fund - Total Revenues Expenditures Salaries & Benefits Salaries Medical Insurance IMRF Pension FICA & Medicare Unemployment Compensation Sub-Total Salaries & Benefits 1101 1102 1103 1104 1105 0 3,310,254 3,310,254 0 283,800 283,800 0 224,734 224,734 0 253,234 253,234 0 1,800 1,800 0 4,073,822 4,073,822 0 1,800 1,800 0 15,000 15,000 0 25,000 25,000 0 18,000 18,000 0 16,245 16,245 0 14,000 14,000 0 5,200 5,200 0 3,500 3,500 0 28,000 28,000 0 20,000 20,000 0 125,950 125,950 0 20,200 20,200 0 14,800 14,800 0 22,000 22,000 o 25,600 25,600 o 5,000 5,000 Other Administrative Costs Audit Legal Fees Printing Other Operating Expense Community Services Youth Programs Professional Memberships Board - Training & Development Staff - Training & Development Telephone Insurance Processing Supplies Office Supplies Library Supplies Postage Consulting Fees 1201 1203 1203 1204 1205 1207 1208 1209 1210 1301 1302 1304 1305 1306 1309 1310 Page 1 VILLAGE OF MOUNT PROSPECT 2005 PROPOSED BUDGET SUMMARY OF RECOMMENDED CHANGES Account Name Other Administrative Costs (continued) Contractual Services Data Processing Costs Sub-Total Other Administrative Costs Building Maintenance Costs Building Maintenance Equipment Maintenance Equipment Rental Janitorial Expenses Equipment Heating & Air Conditioning Water & Sewer Sub-Total Building Maintenance Costs Books & Library Materials Adult Book Adult Audio-Visual Youth Books Youth Audio-Visual Periodicals Microform Electronic Resources Sub-Total Books & Library Materials Other Funds Gift Fund Building & Equipment Fund Capital Improvement Fund Debt Service Fund Sub-Total Other Funds Library Fund - Total Expenditures Account Number 2005 2005 Original Proposed Proposed Recommended Budget Budget Change As Amended 0 55,550 55,550 0 40,000 40,000 0 455,845 455,845 0 50,000 50,000 0 47,551 47,551 o 27,000 27,000 0 48,000 48,000 0 69,000 69,000 0 88,000 88,000 0 4,500 4,500 0 334,051 334,051 0 259,000 259,000 0 65,500 65,500 0 98,000 98,000 0 23,000 23,000 0 23,000 23,000 0 26,000 26,000 0 69,100 69,100 0 563,600 563,600 0 100,000 100,000 o 425,000 425,000 0 1,000,000 1,000,000 0 1,584,675 1,584,675 0 3,109,675 3,109,675 0 8,536,993 8,536,993 1311 1312 1401 1402 1403 1404 1408 1501 1502 1401 1402 1403 1404 1408 1501 1502 Page 2 VILLAGE OF MOUNT PROSPECT 2005 BUDGET SUMMARY TOTAL VILLAGE BUDGET 2003 Actual 2004 Budget 2004 Estimate -- 2005 Budget 2006 Forecast REVENUES AND OTHER SOURCES Property Taxes 10,636,339 11,453,283 11,435,633 11,980,598 12,572,948 Other Taxes 10,538,637 12,378,646 12,755,452 12,838,924 13,336,489 Licenses, Permits & Fees 3,273,801 2,814,250 2,946,700 2,801,736 2,801,952 Intergovernmental Revenue 14,179,037 14,903,344 14,795,744 15,376,615 15,688,590 Charges for Service 13,999,212 15,373,741 15,252,510 16,118,285 17,151,647 Fines and Forfeits 626,247 556,500 565,660 527,100 528,100 Investment Income 9,230,308 4,431,950 3,368,134 4,591,120 4,828,645 Reimbursements 823,471 627,051 55],151 337,616 344,820 Other Revenue 3,934,587 4,147,865 4,109,379 4,325,383 4,685,154 Interfund Transfers 1,096,677 962,730 962,730 805,000 315,000 Other Financing Sources 13,612,310 60,000 1,875,000 1,400,000 60,000 Village Revenues and Other Sources 81,950,626 67,709,360 68,618,093 71,102,377 72,313,345 Mount Prospect Library Revenues 6,213,135 23,768,025 23,768,025 8,536,993 (a) Total Revenues and Other Sources 88,163,761 91,477,385 92,386,118 79,639,370 72,313,345 BUDGET EXPENDITURES Village Operating Budget 42,358,783 46,704,007 46,217,006 48,239,192 50,288,645 Village Capital Budget 18,019,382 14,804,734 15,150,842 5,322,294 9,163,388 Debt Service Budget 5,790,067 5,967,704 5,966,804 4,541,053 3,833,577 Pension Systems Budget 4,117,883 4,546,864 4,334,254 4,750,018 4,928,683 Internal Services Budget (b) 43,598,668 6,907,875 6,264,907 6,943,531 7,668,857 Total Village Expenditures 113,884,783 78,931,184 77,933,813 69,796,088 75,883,150 Mount Prospect Library Budget 14,151,688 23,641,875 23,641,875 8,536,993 (a) Total Expenditures 128,036,471 102,573,059 101,575,688 78,333,081 75,883, 150(d) CHANGES IN FUND BALANCES (d) Excess (Deficiency) of Revenues & Other Sources Over Expenditures (39,872,710) (11,095,674) (9,189,570) 1,306,289 (3,569,805) Fund Balances Start of Budget Year 159,628,503 119,755,793 119,755,793 110,566,223 111,872,512 End of Budget Year 119,755,793 108,660,119 110,566,223 111,872,512 108,302,707 Less: Pension Fund Ba]ances ( c ) (68,632,402) (70,945,903) (70,428,011) (73,159,606) (76,233,145) Available Fund Balances 51,123,391 37,7]4,216 40,138,212 38,712,906 32,069,562 (a) (b) Not available as of December 21, 2004. Internal Services Budget includes Vehicle Maintenance Fund, Risk Management Fund, and Capital Fixed Assets. The Equipment Replacement Fund and Computer Replacement Fund are included in the Village Capital Budget. Pension Fund Balances are reserved for pension benefits and not available for appropriation. Does not include the results of operation of the Mount Prospect Library. (c) (d) VILLAGE OF MOUNT PROSPECT 2005 BUDGET SUMMARY REVENUES AND OTHER SOURCES BY REVENUE TYPE 2003 2004 2004 2005 2006 Actual Budget Estimate Budget Forecast PROPERTY TAXES 10,636,339 11,453,283 11,435,633 11,980,598 12,572,948 OTHER TAXES Home Rule Sales Tax 2,335,898 3,293,778 3,363,750 3,456,825 3,560,550 Food & Beverage Tax 645,221 587,000 590,000 603,800 620,500 Special Service Area Taxes 1,481,850 1,567,913 1,567,556 1,555,942 1,531,825 Property Tax Increment 1,185,391 1,441,077 1,647,677 1,815,025 2,146,033 Real Estate Transfer Tax 1,006,865 827,500 1,131,500 928,500 928,500 Utility Taxes 3,522,007 4,311,278 4,113,157 4,137,692 4,202,781 Municipal Motor Fuel Tax 160,038 165,000 148,000 152,440 157,000 Other Taxes 201,367 185,]00 193,812 188,700 189,300 10,538,637 12.378,646 12,755,452 12,838,924 13,336,489 LICENSES, PERMITS & FEES Vehicle Licenses 1,339,381 1,368,000 1,360,000 1,365,000 1,365,000 Other Licenses 355,426 347,750 361,500 346,500 346,500 Permit Fees 940,492 485,500 481,000 456,000 456,000 InJrastructure Mtc Fee Franchise Fee 322,948 330,000 335,000 340,000 340,000 Other Fees 315,554 283,000 409,200 294,236 294,452 3,273,801 2,814,250 2,946,700 2,801,736 2,801,952 INTERGOVERNMENTAL REVENUE State Sales Tax 7,726,966 8,489,505 8,239,000 9,056,295 9,237,420 State Income Tax 3,486,711 3,353,394 3,336,485 3,436,580 3,539,700 State Motor Fuel Tax 1,660,113 1,630,765 ] ,630,765 1,647,100 1,663,545 Other State Taxes 687,141 682,875 736,774 754,740 773,025 Community Dcvl Block Grant 271,291 485,450 485,450 449,000 445,000 Other Grants 346,815 261,355 367,270 32,900 29,900 14,179,037 14,903,344 14,795,744 15,376,615 15,688,590 CHARGES FOR SERVICE Water & Sewer Charges 6,241,598 6,624,915 6,636,915 6,892,392 7,163,287 Parking Charges 157,589 224,850 150,500 211,250 211,250 Refuse Disposal Charges 952,265 1,009,300 1,009,300 1,044,800 1,074,180 Internal Service Fund Charges 5,873,872 6,707,813 6,712,372 7,200,412 7,910,922 Other Service Charges 773,888 806,863 743,423 769,431 792,008 13,999,212 15,373,741 15,252,510 16,118,285 17,151,647 FINES AND FORFEITS 626,247 556,500 565,660 527,100 528,100 INVESTMENT INCOME Genera] Fund 209,419 230,000 84,553 156,000 156,000 Pension Funds 8,332,333 3,711,000 2,933,632 4,113,500 4,358,420 Other Funds 688,556 490,950 349,949 321,620 314,225 9,230,308 4,431,950 3,368,134 4,591,120 4,828,645 VILLAGE OF MOUNT PROSPECT 2005 BUDGET SUMMARY REVENUES AND OTHER SOURCES BY REVENUE TYPE 2003 2004 2004 2005 2006 Actual Budget Estimate Budget Forecast REIMBURSEMENTS 823,471 627,051 551,151 337,616 344,820 OTHER REVENUE Village Police & Fire Pension Contributions 1,775,707 2,164,920 2,164,920 2,295,580 2,520,859 Developer Donations 103,714 81,000 25,000 25,000 75,000 Employee & Retiree Contributions 1,641,242 1,686,945 1,684,297 1,762,103 1,846,595 Other Revenue 413,924 215,000 235,162 242,700 242,700 3,934,587 4,147,865 4,109,379 4,325,383 4,685,154 TOT AL VILLAGE REVENUES 67,241,639 66,686,630 65,780,363 68,897,377 INTERFUND TRANSFERS 1,096,677 962,730 962,730 805,000 OTHER FINANCING SOURCES Bond Proceeds 12,235,000 Installment Note Proceeds 705,000 Sale of Property 1,377,310 60,000 1,170,000 1,400,000 60,000 13,612,310 60,000 1,875,000 1,400,000 60,000 MOUNT PROSPECT LIBRARY REVENUES 6,213,135 23,768,025 23,768,025 8,536,993 CHANGES IN FUND BALANCES (b) Total Revenues & Other Sources 88,163,761 91,477,385 92,386,118 79,639,370 72,313,345 Total Expenditures 128,036,471 102,573,059 101,575,688 78,333,081 75,883,150 Additions to <Use of> Fund Balances (39,872,710) (J 1,095,674) (9,189,570) 1,306,289 (3,569,805) ANAL YSIS OF CHANGES IN FUND BALANCES (b) Additions to Pension Fund Balances 6,990,902 2,367,215 1,795,609 2,731,595 3,073,539 Additions to Other Fund Balances <Use of> Other Fund Balances (46,863,612) (13,462,889) (10,985,179) (1,425,306) (6,643,344) (39,872, 710) (11,095,674) (9,189,570) 1,306,289 (3,569,805) (a) (b) Figures not available as of December 21, 2004. Does not include the Mount Prospect Library. VILLAGE OF MOUNT PROSPECT 2005 BUDGET SUMMARY BUDGET EXPENDITURES 2003 2004 2004 2005 2006 Actual Budget Estimate Budget Forecast VILLAGE OPERATING BUDGET PUBLIC REPRESENTATION 100,879 107,874 111,446 117,383 119,867 VILLAGE ADMINISTRATION Village Manager's Office 1,794,586 1,834,353 2,047,932 1,947,752 2,110,229 TeIevision Services Division 160,689 170,262 159,302 213,757 207,596 Village Clerk's Office 154,065 J 63,256 ] 57,628 171,874 180,786 Finance Department 1,247,599 1,368,331 1,344,214 1,570,355 1,660,723 Totals 3,356,939 3,536,202 3,709,076 3,903,738 4,159,334 COMMUNITY DEVELOPMENT Community Development 1,387,815 1,580,527 1,534,725 1,670,374 1,774,220 Community DeveJopment/CDBG 402,845 620,305 611,106 728,123 511,445 Totals 1,790,660 2,200,832 2,145,831 2,398;497 2,285,665 . HUMAN SERVICES DEPARTMENT 686,969 784,867 692,071 720,533 757,397 PUBLIC SAFETY AND PROTECTION Police Department ] 0,224,377 11,320,912 11,296,066 11,664,483 12,286,037 Fire Department 8,310,005 8,829,400 8,723,987 9,312,021 9,981,807 Totals 18,534,382 20,150,312 20,020,053 ..21,036,5'04 22,267,844 PUBLIC WORKS DEPARTMENT Administration 961,884 1,001,751 998,406 1,104,481 1,138,019 Streets/Bldgs/Parking 2,229,527 2,325,767 2,486,896 2,507,178 2,617,196 Forestry 1,251,233 ] ,273,238 1,273,271 1,428,718 1,497,573 Engineering 930,757 1,240,151 1,243,926 1,108,457 1,170,560 Water/Sewer 8,001,166 9,308,159 8,766,800 9,204,528 9,914,388 Refuse Disposal 3,142,526 3,533,222 3,533,196 3,634,727 3,770,384 Totals 16,517,093 18,682,288 18,302,495 18,988,089 20,108,120 COMMUNITY & CIVIC SERVICES 275,184 278,902 273,394 269,448 275,418 CONTINGENCIES & EQUITY TRANSFERS 1,096,677 962,730 962,640 805,000 315,000 VILLAGE OF MOUNT PROSPECT 2005 BUDGET SUMMARY BUDGET EXPENDITURES 2003 2004 '2004 1005 2006 Actual Budget Estimate Budget Forecast ,, '., .,' ......'. VILLAGE CAPITAL BUDGET Village Improvements & Equip 11,317,149 6,622,331 7,103,629 486,000 2,721,020 Community Improvement Projects 486, I 02 251.635 251,635 35,000 410,000 Downtown Redevelopment Constr 437,951 2,150,189 2,572,543 251,221 951,360 Flood Control Projects 409,278 686,744 355,000 547,538 382,713 Street Improvement Projects 4,371,650 3,831,385 3,781,385 2,527,500 3,735,045 Motor Equipment Replacement 797,724 1,115,300 956,650 1,275,335 816,950 Computer Replacement 199,528 147,150 130,000 199,700 146,300 Totals 18,019,382 14,804,734 15,150,842 5,322,294 9,163,388 '.' . >, DEBT SERVICE BUDGET Debt Service - Property Tax 2,026,559 2,019,966 2,019,966 1,979,111 1,450,361 Debt Service - Tax Increment 779,385 912,075 911,175 1,096,145 996,675 Debt Service - Home Rule Sales Tax I 1,487,935 1,499,168 1,499,168 1,427,997 1,386,541 Debt Service - Home Rule Sales Tax 2 1,496,188 1,496,000 1,496,000 Debt Service - Special Service Area 40,495 40,495 37,800 Totals 5,790,067 5,967,704 5,966,804 4,541,053 3,833,577 PENSION SYSTEMS BUDGET Miscellaneous Pensions 52,859 53,714 53,714 54,630 55,548 Police Pensions 2,016,299 2,226,120 2,126,882 2,366,440 2,428,761 Fire Pensions 2,048,725 2,267,030 2,153,658 2,328,948 2,444,374 Totals 4,117,883 4,546,864 4,334,254 4,750,018 4,928,683 '.' VILLAGE INTERNAL SERVICES BUDGET Vehicle Maintenance Services 1,123,483 1,277,582 1,262,389 1,274,181 1,339,712 Risk Management Casualty and Property Insurance 2,092,379 1,069,013 1,039,015 1,260,047 1,272,385 Medical Insurance 3,747,314 4,561,280 3,963,503 4,409,303 5,056,760 Capital Fixed Assets 36,635,492 Totals 43,598,668 6,907,875 6,264,907 6,943,531 7;668,857 MOUNT PROSPECT LIBRo\RY BUDGET 14,151,688 23,641,875 23,641,875 8,536,993 (a) (a) (b) Figures not available as of December 21, 2004. Does not include the Mount Prospect Library. VILLAGE OF MOUNT PROSPECT 2005 BUDGET SUMMARY REVENUES AND OTHER SOURCES BY FUND 2003 2004 2004 2005 2006 Actual Budget Estimate Budget Forecast GENERAL FUND 28,798,480 3 I ,218,204 32,267,586 33,122,688 33,946,524 SPECIAL REVENUE FUNDS Refuse Disposal Fund 3,200,760 3,317,523 3,306,890 3,341,773 3,371,153 Motor Fuel Tax Fund 1,69J,647 1,662,015 1,657,865 1,669,600 1,686,045 Law Enforcement Block Grant 12,201 I 0,000 10,000 10,000 10,000 Community Dev. Block Gmt 402,846 550,450 535,450 499,000 495,000 Asset Seizure Fund 672 7,700 400 500 500 DEA Shared Funds Fund 18,993 ]2,000 35,250 12,250 12,250 DUI Fine Fund 12,600 10,100 15,100 10,100 10,100 5,339,719 5,569,788 5,560,955 5,543,223 5,585,048 DEBT SERVICES FUNDS G.O. Bonds - Property Taxes 1,929,083 1,979,962 1,976,462 1,991,366 1,709,405 G.O. Bonds - Tax Increment 873,426 1,008,000 1,009,500 1,075,650 1,034,600 G.O. Bonds - Home Rule Sales Tax I 1,171,335 1,100,276 1,123,350 1,154,175 1,188,775 G.O. Bonds - Home Rule Sales Tax 2 1,173,556 1,097,926 1,124,250 335,000 Special Service Area Bonds 30,988 35,956 24,217 5,147,400 5,217,152 5,269,518 4,580,408 3,932,780 CAPITAL PROJECTS FUNDS Capital Improvement Fund 409,059 452,551 419,951 40,000 85,000 Series 200 I Project Fund 19,924 Series 2003 Project Fund 12,338,103 40,000 15,374 Downtown Redevlpmnt Const ],724,9"0 440,077 1,354,677 2,085,975 1,117,033 Street Improve Const Fund 1,76],861 ] ,500, 165 1,443,971 1,365,165 1,747,600 Flood Control Const Fund 122,362 15,000 15,000 12,000 10,000 16,376,279 2,447,793 3,248,973 3,503,140 2,959,633 , ENTERPRISE FUNDS Water And Sewer Fund 7,968,998 8,246,940 8,229,740 8,493,217 8,764,112 Village Parking System Fund 135,650 82,440 116,236 116,452 Parking System Revenue Fund 187,564 241,655 203,955 107,370 107,500 8,156,562 8,624,245 8,516,135 8,7]6,823 8,988,064 , INTERNAL SERVICE FUNDS Vehicle Maintenance Fund 1.146,584 1,228,529 1,228,529 1,309,945 1,370,233 Vehicle RepJacement Fund 1,142,115 1,045,548 990,548 1,058,035 1,058,035 Computer Replacement Fund 230,560 227,906 227,906 161,20] 169,287 Risk Management Fund 4,544,436 5,269,830 5,231,794 5,679,931 6,357,067 7,063,695 7,771,813 7,678,777 8,209,112 8,954,622 '. VILLAGE OF MOUNT PROSPECT 2005 BUDGET SUMMARY REVENUES AND OTHER SOURCES BY FUND .. c;CT- 'c;... 2003 . ".",., 2004 '2004 2005 .... 2006 Actual Budget Estimate Budget Forecast ..-- .""< « «....--:-:: '.- 5,720,943 3,431,674 3,052,118 3,686,073 3,941,095 5,347,181 3,428,691 3,024,031 3,740,910 4,005,579 367 11,068,491 6,860,365 6,076,149 7,426,983 7,946,674 . ;:,:. . FIDUCIARY FUNDS Police Pension Fund Fire Pension Fund Benefit Trust #2 Fund MOUNT PROSPECT LIBRARY FUND (a) (b) Figures not available as of December 2 1,2004. Does not include the Mount Prospect Library. VILLAGE OF MOUNT PROSPECT 2005 BUDGET SUMMARY EXPEND ITURES BY FUND 2003 2004 2004 2005 2006 Actual Budget Estimate Budget Forecast GENERAL FUND 29,215,233 31,645,480 31,725,070 33,927,415 35,363,101 SPECIAL REVENUE FUNDS Refuse Disposal Fund 3,]42,526 3,533,222 3,533,196 3,634,727 3,770,384 Motor Fuel Tax Fund 2,063,164 2,461,793 2,461,793 1,871,750 1,812,360 . Local Law Enforcement Block Grant 12,201 12,524 12,515 4,000 Community Development Block Grant 402,845 620,305 611,106 728, I 23 511,445 Asset Seizure Fund 7,000 7,000 7,000 7,000 DEA Shared Funds Fund 11,360 4,700 ]8,000 1,000 1,000 DU] Fine Fund ]3,393 3,000 1,000 1,000 1,000 Totals 5,645,489 6,642,544 6,644,610 6,243,600 6,107,189 DEBT SERVICE FUNDS G.O. Bonds - Property Taxes 2,026,559 2,0]9,966 2,019,966 1,979,] 11 ] ,450,36] G.O. Bonds - Tax Increment 779,385 912,075 91 ],175 ],096,]45 996,675 G.O. Bonds - Home Rule Sales Tax] 1,487,935 ],499,]68 1,499,]68 1,427,997 ] ,386,541 G.O. Bonds - Home Rule Sales Tax 2 1,496,] 88 1,496,000 ],496,000 Special Service Area Bonds 40,495 40,495 37,800 Totals 5,790,067 5,967,704 5,966,804 4,54] ,053 3,833,577 CAPITAL PROJECTS FUNDS Capital Improvement Fund 898.6 13 912,111 825,374 575,000 3,964,020 Series 2001 Project Fund 4,262,648 100,000 Series 2003 Project Fund 6,655,0] 5 5,786,400 6,400,435 Downtown Redevelop Const Fund 437,95] ],824,982 2,247,336 25],719 951,875 Street Improvement Const Fund 3,630,154 2,893,980 2,897,890 1,004,000 1,504,000 Flood Control Const Fund 409,278 686,744 355,000 547,538 382,713 Totals 16,293,659 12,204,217 12,726,035 2,378,257 6,802,608 ENTERPRISE FUNDS Water and Sewer Fund 8,001,166 9,308,159 8,766,800 9,204,528 9,914,388 Village Parking System Revenue Fund 227,014 164,404 240,367 215,617 Parking System Revenue Fund 259,462 262,591 297,993 136,6]4 130,828 Totals 8,260,628 9,797,764 9,229,] 97 9,581,509 10,260,833 INTERNAL SERVICE FUNDS Vehicle Maintenance Fund 1,]23,483 1,277,582 1,262,389 ],274,18] ],339,712 Vehicle Replacement Fund 797,724 1,115,300 956,650 1,275,335 816,950 Computer Replacement 199,528 147,150 ] 30,000 199,700 146,300 Risk Management Fund 5,845,891 5,640,293 5,0] 2,518 5,679,650 6,339,745 Capital Fixed Assets 36,635,492 Totals 44,602,118 8,] 80,325 7,361,557 8,428,866 8,642,707 ~ VILLAGE OF MOUNT PROSPECT 2005 BUDGET SUMMARY EXPENDITURES BY FUND 2003 2004 2004 2005 2006 Actual Budget Estimate Budget Forecast = ~~cc cccc cccc FIDUCIARY FUNDS Police Pension Fund 2,016,299 2,226,120 2,126,882 2,366,440 2,428,761 Fire Pension Fund 2,048,725 2,267,030 2,153,658 2,328,948 2,444,374 Benefit Trust #2 Fund 12,565 Totals 4,077,589 4,493,150 4,280,540 4,695,388 4,873,135 MOUNT PROSPECT LIBRARY BUDGET 14,151,688 23,641,875 23,641,875 8,536,993 (a) (a) Figures not available as of December 21, 2004. (b) Does not include the Mount Prospect Library. VILLAGE OF MOUNT PROSPECT 2005 BUDGET SUMMARY AVAILABLE FUND BALANCES 12-31-2005 " . .Co ",. Estimated 2005 2005 Estimated -" Balance Budget Budget Balance 'c~. ;~,;+ i,' ,{i,.. ,""" 12-31-04 Revenues Expenditures 12-31-05 GENERAL FUND 9,467,670 33,122,688 33,927,415 8,662,943 SPECIAL REVENUE FUNDS Refuse Disposal Fund 1 ,858,595 3,341,773 3,634,727 1,565,641 Motor Fuel Tax Fund 815,712 1,669,600 1,871,750 613,562 Local Law Enf. Block Grant (75,493) 10,000 (65,493) Community Development Block Gmt (2,515) 499,000 728,123 (231,638) Asset Seizure Fund 42,400 500 7,000 35,900 DEA Shared Funds Fund 84,377 12,250 1,000 95,627 DUI Fine Fund 25,850 10,100 1,000 34,950 TOTAL 2,748,926 5,543,223 6,243,600 2,048,549 DEBT SERVICES FUNDS G.O. Bonds - Property Taxes 191,362 1,991,366 1,979,111 203,617 G.O, Bonds - Tax Increment 530,482 1,075,650 1,096,145 509,987 G.O. Bonds - Home Rule Sales Tax 1 (314,216) 1,154,175 1,427,997 (588,038) G.O. Bonds - Home Rule Sales Tax 2 (310,309) 335,000 24,691 Special Service Area Bonds 13,958 24,217 37,800 375 TOTAL 111,277 4,580,408 4,541,053 150,632 CAPITAL PROJECTS FUNDS Capital Improvement Fund 1,535,067 40,000 575,000 1,000,067 Series 2001 Project Fund Series 2003 Project Fund (701,973) (701,973) Downtown Redevelop Canst Fund (395,010) 2,085,975 251,719 1,439,246 Street Improvement Const Fund 17,677 1,365,165 1,004,000 378,842 Flood Control Canst Fund 998,734 12,000 547,538 463,196 TOTAL 1,454,495 3,503,140 2,378,257 2,579,378 ENTERPRISE FUNDS Water and Sewer Fund (a) 3,822,352 8,493,217 9,204,528 3,11],041 Village Parking System Fund (a) 163,666 116,236 240,367 39,535 Parking System Revenue Fund (a) 69,715 107,370 136,614 40,471 TOTAL 4,055,733 8,716,823 9,581,509 3,191,047 . VILLAGE OF MOUNT PROSPECT 2005 BUDGET SUMMARY A V AILABLE FUND BALANCES 12-31-2005 ~ /.;. Estimated 2005 2005 Estimated .:, 1(" '\' Balance Budget Budget Balance 12-31-04 Revenues Expenditures 12-31-05 i' ~.~ INTERNAL SERVICE FUNDS (b) Vehicle Maintenance Fund Vehicle Replacement Fund Computer Replacement Fund Risk Management Fund TOTAL 528,600 5,197,650 671,782 499,907 6,897,939 PENSION FUNDS (a) Police Pension Fund Fire Pension Fund TOTAL 34,445,771 35,982,240 70,428,011 Totals - Víllage Funds Less: Pension Funds (c) 95,164,051 (70,428,011 ) MOUNT PROSPECT LIBRARY FUND 15,402,172 1,309,945 1,058,035 161,201 5,679,931 8,209,112 3,686,073 3,740,910 7,426,983 71,102,377 (7,426,983) 8,536,993 1,274,181 1,275,335 199,700 5,679,650 8,428,866 2,366,440 2,328,948 4,695,388 69,796,088 ( 4,695,388) 8,536,993 564,364 4,980,350 633,283 500,188 6,678,185 35,765,404 37,394,202 73,159,606 96,470,340 ;};¡'8i3,58~ (73, 159,606);;;;}J~7~8_~6~~9~) (a) (b) (c) (d) Estimated balances reflect cash and investment balance, not fund equity. Estimated balances for Internal Service Funds reflect unrestricted net assets only. Pension Funds are restricted for future pension benefits and do not constitute "Available Fund Balances." Not available as of December 21, 2004.