HomeMy WebLinkAboutTab 2: 2011 Year-End ResultsVillage of Mount Prospect, Illinois
General Fund - Revenues and Expenditures
2011 End -of -Year Results - UNAUDITED
Expenditures
Public Representation
(a)
(b)
(c)
(d)
Village Manager's Office
2,451,642
2,618,479
2,645,350
Budget
Television Services Division
188,258
2011
149,954
Variance -
Village Clerk's Office
2010
Amended
2011
Favorable
Finance Department
Actual
Budget
Actual
(Unfavorable) Notes
Revenues:
2,151,870
2,252,212
2,109,428
142,784
Property Taxes
11,719,530
11,746,500
11,750,522
4,022
Sales Taxes - ROT Portion
10,388,196
10,650,000
10,614,601
(35,399)
Sales Taxes - HMR Portion
1,120,674
1,200,000
1,195,178
(4,822)
Food and Beverage Tax
790,965
800,000
867,630
67,630 A
Real Estate Transfer Tax
379,942
350,000
363,194
13,194
Telecommunications Tax
2,838,953
2,650,000
2,875,668
225,668 B
Other Utility Taxes
1,750,268
1,745,000
1,749,010
4,010
Other Taxes
52,738
116,000
112,572
(3,428)
Vehicle Licenses
1,402,863
1,375,000
1,376,506
1,506
Other Licenses, Permits, Fees
1,991,348
1,905,000
1,861,724
(43,276)
State Income Tax
4,428,176
4,445,000
4,328,196
(116,804) C
Other Intergovernmental
1,178,801
1,616,500
1,592,714
(23,786)
Charges for Services
1,655,275
1,433,890
1,486,223
52,333
Fines and Forfeits
556,178
564,500
559,173
(5,327)
Investment Income
43,540
23,600
23,066
(534)
Other Revenue
414,877
473,540
417,007
(56,533)
Total Revenues
40,712,324
41,094,530
41,172,982
78,452
Expenditures
Public Representation
468,890
525,998
454,868
71,130
Village Manager's Office
2,451,642
2,618,479
2,645,350
(26,871) D
Television Services Division
188,258
170,979
149,954
21,025
Village Clerk's Office
203,020
155,426
144,417
11,009
Finance Department
1,571,136
1,618,137
1,561,764
56,373
Community Development Dept.
2,151,870
2,252,212
2,109,428
142,784
Human Services Dept.
1,082,552
1,030,431
981,386
49,045
Police Department
14,512,406
14,832,582
14,649,653
182,929
Fire Department
11,443,146
11,545,878
11,444,291
101,587
Public Works Department
5,925,170
6,602,832
6,050,055
552,778 E
Emergency Events
0
577,160
549,077
28,083
Miscellaneous
45,724
45,863
45,862
1
Total Expenditures
40,043,814
41,975,977
40,786,106
1,189,872
Excess of Revenues over Expend.
668,510
(881,447)
386,877
1,268,324 F
Other Financing Sources/Uses
Transfers In
0
0
0
0
Transfers Out
(450,000)
0
0
0
Total Other Financing Uses
(450,000)
0
0
0
Excess of Revenues over Expend.
and Other Financing Uses:
218,510
(881,447)
386,877
1,268,324 F
1 of 2 2011 End of Year Summary - GF.xlsx
Village of Mount Prospect, Illinois
General Fund - Revenues and Expenditures
2011 End -of -Year Results - UNAUDITED
Notes
A Food & Beverage receipts continue to climb as a result of the new restaurants at Randhurst
Village. Future projections though have been reduced as a portion of these revenues will be
redirected to support the redevelopment agreement with Randhurst Village.
B End -of -year receipts for the Telecommunication Tax came in higher than expected. This revenue
was tracking below prior year receipts through the first 9 months of the year. The year -end
estimate was adjusted accordingly. In the end, this revenue came in slightly above the prior year.
It appears that the regular flow of this revenue is being impacted by the state's budgetary issues.
Future projections for this revenue are flat through 2013.
C State Income Taxes continue to lag prior year amounts. The delay in receiving the receipts from
the state has remained approximately four months. Only a slight growth is anticipated over the
new two years for this revenue source.
D The unfavorable balance in the Village Manager's Office is due solely to legal expenses coming in
over budget. All other divisions of the Manager's Office budget (Administration, Human Services,
Public Information, Clerk's Office and Television Services) came in under budget.
E Spending in the Public Works Department came in significantly lower than budget. Some of the
savings to budget was due to changes related to a reorganization of personnel within the
department while a majority was due to controls to spending throughout the four divisions (Admin,
Streets, Forestry and Engineering).
F The combination of revenues coming in over budget by $78,452 and actual spending coming in
below budget by $1,189,872 resulted in the General Fund ending the year with a surplus of
$386,877, or 0.9 %. It had originally been anticipated that there would be a budget deficit at year's
end of $881,447. The savings of slightly below 1.0% is consistent with past years, with few
exceptions.
2 of 2 2011 End of Year Summary - GF.xlsx