HomeMy WebLinkAbout3. VB Mid-Year Review Memo - August 2012lk Mount 1
Village of Mount Prospect
Mount Prospect, Illinois \1?)
INTEROFFICE MEMORANDUM
TO: MICHAEL E. JANONIS, VILLAGE MANAGER
FROM: FINANCE DIRECTOR
DATE: AUGUST 1, 2012
SUBJECT: 2012 MID -YEAR REVIEW AND UPDATE OF THE 2013 BUDGET
FORECAST
Each year, the Finance Department holds a joint workshop with the Village Board and Finance
Commission earlier in the year to present a first - quarter review that includes a wrap -up of the
prior year's activity and insight into early trends for the current fiscal year. The Finance
Department also prepares for the Village Board and Finance Commission a mid -year review of
the financial status of the current year's budget and a forecast for the upcoming year. This
practice provides a solid foundation for preparation of the upcoming annual budget.
This memorandum is intended to supplement the June 30, 2012 financial reports that were
submitted to the Commission previously. The sole focus of this memorandum is on the General
Fund, since it is the main operating fund of the Village.
It should be pointed out that the current estimates of revenues and expenditures for 2012 are
fluid and may change during the remaining six months of the fiscal year.
2012 MID -YEAR REVIEW
GENERALFUND
The 2012 General Fund as approved by the Village Board in December 2011 was balanced and
totaled $41,547,482. The General Fund budget was amended in April to account for carry -over
items from the prior year's budget. Adjustments to General Fund expenses were made in
various areas totaling $186,914 bringing total General Fund expenditures to $41,734,396. After
these changes, the amended budget reflected a deficit of $186,914.
As part of the mid -year review, we looked at all revenue and expenditure accounts to determine
if any material variances were likely. We now expect total General Fund revenues to come in at
$41,951,738, an increase of $404,256 over the amended budget. Total expenditures are
expected to increase $95,000 to $41,829,396. The increase is due to costs related to the build
out of the Community Connections Center. Taking into consideration adjusted revenues and
expenses; the General Fund is now showing a surplus of $122,342. Exhibit I presents a
summary of our current projections of revenues and expenditures, with a comparison to the
amended budget.
Mid -Year Budget Review
August 1, 2012
Page 2
General Fund Revenues:
General Fund revenues at June 30, 2010 were $16,163,516. This accounts for 38.9% of the
amended budget. Being below 50% at mid -year itself should not be a concern as receipt of
several significant revenue sources by the Village lag one to three months. These revenue
sources include sales tax, income tax, utility taxes and other intergovernmental revenues. One
area that remains a concern is the state's remittance of income taxes to the Village. The state
is regularly three to four months behind with their monthly payment. The delinquent revenue
resulting from the delay has ranged anywhere between $1.0 and $1.6 million.
The preceding chart illustrates the percent of revenues received by the Village in several
categories as of June 30 The current year -end estimate for revenues is slightly less than one -
percent above the amended budget (0.97 %).
Property tax revenues (for both the general and pension allocation) of $6,168,779 are running
at 50.5% of budget. This is typical in that the first allotment of property taxes received is an
estimate (55 %) based on the prior year receipts while the second allotment, which comes in
later in the year, captures the levy increase approved in the current tax year. Our year -end
estimate is at the amended budget amount. The average collection rate for property taxes since
levy year 2001 is 98.6 %.
Revenues classified as "Other Taxes" include sources such as the one - quarter cent home rule
sales tax, food and beverage tax, real estate transfer tax, hotel /motel tax, telecommunications
tax and the electric and gas utility taxes. In total, revenue collections from "Other Taxes" came
to $2,681,642 as of June 30 which is 35.3% of annual budget. Again, this is a category where
there is a lag in receipt of two of the more significant revenues (home -rule sales tax and
telecommunications tax).
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August 2012.docx
General Fund Revenue Collections as a Percent of
Annual Budget
100%
75%
V
50%
L
a
25%
0%
CP �e��
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5�
Revenue Type
The preceding chart illustrates the percent of revenues received by the Village in several
categories as of June 30 The current year -end estimate for revenues is slightly less than one -
percent above the amended budget (0.97 %).
Property tax revenues (for both the general and pension allocation) of $6,168,779 are running
at 50.5% of budget. This is typical in that the first allotment of property taxes received is an
estimate (55 %) based on the prior year receipts while the second allotment, which comes in
later in the year, captures the levy increase approved in the current tax year. Our year -end
estimate is at the amended budget amount. The average collection rate for property taxes since
levy year 2001 is 98.6 %.
Revenues classified as "Other Taxes" include sources such as the one - quarter cent home rule
sales tax, food and beverage tax, real estate transfer tax, hotel /motel tax, telecommunications
tax and the electric and gas utility taxes. In total, revenue collections from "Other Taxes" came
to $2,681,642 as of June 30 which is 35.3% of annual budget. Again, this is a category where
there is a lag in receipt of two of the more significant revenues (home -rule sales tax and
telecommunications tax).
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August 2012.docx
Mid -Year Budget Review
August 1, 2012
Page 3
The Village's home rule sales tax is running 6.0% above the prior year through the first three
months of the year. Receipts from the home rule sales tax are expected to come in below
budget by $35,000. The reason for the decline is the departure of a major sales tax remitter
effective July 1, 2012.
The real estate transfer tax also continues to be impacted by the downturn in the economy,
specifically from the struggling housing market. Transfer tax receipts continue to be off from
their high level point in 2005. Projected receipts for this tax are expected to total $395,000, this
is $5,000 below original budget projections.
Telecommunication taxes have fluctuated in the past several years since the State has taken
responsibility of collecting this tax. Through June 30 revenues from this source are over the
prior year by 54.5 %. This is due to a one -time catch -up payment from prior periods. The year-
end estimate was adjusted to reflect this one -time payment and current monthly receipts.
Collections from licenses and permit fees totaled $1,859,835, or 74.5% of the $2.5 million
budget. Vehicle license revenue of $1,242,234 is at 88.4% of budget, which is expected given
the timing for selling the 2012 -2013 vehicle sticker. Activity for this revenue is coming in as
expected. No changes were made to year -end estimates for this category of revenues.
Intergovernmental revenues totaled $4,435,723 as of June 30 which is 26.5% of the $16.7
million annual budget. Intergovernmental revenues in the General Fund include the local share
of the state sales tax, state income tax, use tax, replacement tax and other miscellaneous state
and federal grants.
Sales tax collections, which make up approximately 65% of the "Intergovernmental" category,
are at $2,698,648. This represents 24.8% of budget. The current projection for this revenue is
$10,890,000. Year -to -date collections are running 11.9% above the same period last year.
Although sales taxes are tracking above prior year, the loss of a major tax remitter beginning in
July has eroded growth for 2012.
Receipts from the State's distribution of the state income tax totaled $1,146,908 at June 30
This is up slightly from the same period last year. The year -end projection assumes 4.0%
growth over the prior year.
Revenue from Fines totaled $142,309 for the first six months. This represents 28.7% of the
$507,000 budgeted for the year. We expect this revenue to come in below budget by $116,000
for 2012. Circuit court fines lag the benchmark at June 30 Parking fines are also falling short
of the initial budgeted amount. Investment income totaled $12,585 for the first six months,
representing 50.3% of the $25,000 projected for the year. Significantly lower rates paid for
short -term investments have caused the amount budgeted for this revenue item to drop from
over $400,000 in the early 2000's to where they are at today. Other Revenue, consisting of
reimbursements and other revenues, totaled $224,164 as of June 30 This is 48.6% of the
$461,238 budgeted for the year. We expect these revenues to come in at budget for 2012.
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Mid -Year Budget Review
August 1, 2012
Page 4
General Fund Expenditures:
The amended 2012 budget totals $41,734,396. As of June 30 the Village had recorded
expenditures of $19,410,264. This represents 46.5% of budget and is consistent with previous
years. All of the departments are at or below the benchmark 50 %. The following chart
illustrates General Fund expenditures as a percentage of annual budget at June 30.
For the past several years, total General Fund expenditures have come in anywhere from one
to two percent under budget. The chart below shows budget to actual expenditures since 2007.
A 1.0% savings in expenditures for 2012 amounts to over $400,000. Savings can be used to
offset shortfalls in revenue or unanticipated expenditures that can occur during the year. If
neither of these conditions exists, the savings go toward maintaining the General Fund fund
balance.
Year
Amended Budget
General Fund Expenditures
Variance
2007
as a Percent of Annual Budget
$38,917,075
Public Representation
2008
$41,281,355
$40,534,554
1.80%
2009
$40,697,094
$40,571,714
0.30%
2010
$40,961,030
$40,043,801
(1.98 %)
2011
$41,975,978
$40,786,106
(2.83 %)
Manager's Office
Television Services
L at
Clerk's Office
O
a
Finance
r
Comm. Dev.
E
E
L
CL
Human Services
a�
Police
Fire
Public Works
0%
25% 50% 75% 100%
Percent
For the past several years, total General Fund expenditures have come in anywhere from one
to two percent under budget. The chart below shows budget to actual expenditures since 2007.
A 1.0% savings in expenditures for 2012 amounts to over $400,000. Savings can be used to
offset shortfalls in revenue or unanticipated expenditures that can occur during the year. If
neither of these conditions exists, the savings go toward maintaining the General Fund fund
balance.
Year
Amended Budget
Actual Expenditures
Variance
2007
$39,470,568
$38,917,075
(1.40 %)
2008
$41,281,355
$40,534,554
1.80%
2009
$40,697,094
$40,571,714
0.30%
2010
$40,961,030
$40,043,801
(1.98 %)
2011
$41,975,978
$40,786,106
(2.83 %)
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Mid -Year Budget Review
August 1, 2012
Page 5
2013 FORECAST
The 2012 Annual Budget included a forecast budget for the year 2013 for each operating and
capital project fund. The purpose of this portion of this memorandum is to bring forward any
material variances in revenues /expenditures now expected for the year 2013.
GENERALFUND
Exhibit II has been prepared to compare the original forecast numbers to our most recent
estimates. The original forecast budget showed an operating deficit of $900,672 on revenues of
$42,532,820 and expenditures totaling $43,433,492. Our more recent estimates now show that
the deficit has been reduced slightly $766,692. Revenue estimates coming in slightly above the
forecast budget include the telecommunication tax, Other Licenses & Permits and the state
Income Tax. Revenues are now projected to come in at $42,666,800. This is $133,980 above
the original forecast budget.
General Fund Revenues:
Below is an explanation of significant variances from the original budget forecast for 2012.
The forecast for the Telecommunication Tax was increased by $400,000 based on prior year
estimates. Prior projections anticipated an eroding of this revenue source. It appears that
except for the one -time catch -up payment made in March 2012 that this revenue source has
leveled off at $2.9 million.
The Licenses, Permits & Fees revenue category was increased by $57,000 for 2013 due to
higher than expected activity in building permits. Although this same level of activity is not
expected to continue, the adjustment made to the 2013 forecast amount is higher than was
originally anticipated.
State Income Tax receipts are expected to grow for the first time since the early 2000's. It
appears that this revenue source has finally reached a point where growth, albeit small, is
beginning to be realized. Modest 2.0 % -3.0% growth is anticipated during 2012 and 2013.
General Fund Expenditures:
At this time we are expecting expenditures for 2013 to remain consistent with the original
forecast.
As mentioned earlier in this memo, the mid -year review and budget forecast update are
intended to provide a foundation for preparation of the annual budget. Moving forward staff will
incorporate directives and suggestions from the Village Board and Finance Commission for their
2013 budget proposals. Review of the 2013 proposed budget will occur in October and
November with final approval occurring in December.
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Mid -Year Budget Review
August 1, 2012
Page 6
BUDGET CALENDAR
Exhibit III included with this memo is the 2013 budget calendar as presented in the current 2012
budget document. We anticipate moving forward with the 2013 budget process according to
this calendar.
David O. Erb
Finance Director
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August 2012.docx
Exhibit I
Village of Mount Prospect, Illinois
General Fund - Revenues and Expenditures
2012 Mid -Year Review
1 of 2 Mid -Year Review - 2012.xlsx
(a)
(b)
(c)
(d)
(e)
Budget
2012
YTD Actual
2012
Variance -
2011
Amended
01/01/12-
Current
Favorable
Actual
Budget
6/30/2012
Estimate
(Unfavorable)
Notes
Revenues:
Property Taxes
11,750,522
12,206,500
6,168,779
12,206,500
0
Sales Taxes - ROT Portion
10,614,601
10,890,000
2,698,648
10,890,000
0
A
Sales Taxes - HMR Portion
1,195,178
1,215,000
270,040
1,180,000
(35,000)
B
Food and Beverage Tax
867,630
840,000
300,701
695,000
(145,000)
C
Real Estate Transfer Tax
363,194
400,000
197,641
395,000
(5,000)
Telecommunications Tax
2,875,668
2,525,000
984,336
3,230,000
705,000
D
Other Utility Taxes
1,749,010
1,802,000
710,708
1,675,000
(127,000)
E
Other Taxes
112,572
192,000
63,883
179,000
(13,000)
Vehicle Licenses
1,376,506
1,405,000
1,242,234
1,405,000
0
Other Licenses, Permits, Fees
1,861,724
1,719,000
771,935
1,850,000
131,000
F
State Income Tax
4,328,196
4,430,000
1,146, 908
4,500,000
70,000
G
Other Intergovernmental
1,592,714
1,411,619
590,166
1,364,000
(47,619)
H
Charges for Services
1,486,223
1,518,125
638,479
1,505,000
(13,125)
Fines and Forfeits
559,173
507,000
142,309
391,000
(116,000)
1
Investment Income
23,066
25,000
12,586
25,000
0
Other Revenue
417,007
461,238
224,164
461,238
0
Total Revenues
41,172,982
41,547,482
16,163,516
41,951,738
404,256
Expenditures
Public Representation
454,868
566,260
198,465
566,260
0
Village Manager's Office
2,645,350
2,468,604
1,236,015
2,468,604
0
Television Services Division
149,954
168,334
74,451
168,334
0
Village Clerk's Office
144,417
146,997
68,790
146,997
0
Finance Department
1,561,764
1,494,533
684,660
1,494,533
0
Community Development Dept.
2,109,428
2,160,692
899,894
2,160,692
0
Human Services Dept.
981,386
1,012,542
455,944
1,107,542
(95,000)
J
Police Department
14,649,653
15,222,990
7,362,394
15,222,990
0
Fire Department
11,444,291
11,885,304
5,505,046
11,885,304
0
Public Works Department
6,050,055
6,555,630
2,901,603
6,555,630
0
Emergency Events
549,077
6,505
0
6,505
0
Miscellaneous
45,862
46,005
23,002
46,005
0
Total Expenditures
40,786,106
41,734,396
19,410,264
41,829,396
(95,000)
Excess of Revenues over Expend.
386,877
(186,914)
(3,246,748)
122,342
309,256
K
Other Financing Sources /Uses
Transfers In
0
0
0
0
0
Transfers Out
0
0
0
0
0
Total Other Financing Uses
0
0
0
0
0
Excess of Revenues over Expend.
and Other Financing Uses:
386,877
(186,914)
(3,246,748)
122,342
309,256
K
1 of 2 Mid -Year Review - 2012.xlsx
Exhibit I
Village of Mount Prospect, Illinois
General Fund - Revenues and Expenditures
2012 Mid -Year Review
Notes
A The state portion sales tax for 2012 reflects the loss of a major tax remitter beginning in July. Abnormally high year -to-
date growth of 11.9% through the first 4 months is projected to offset this revenue loss in the first year only. Only six
months of the decline is being built into the projection. Future year projections will reflect the full year amount of
approximately $345,000.
B The home rule portion sales tax for 2012 reflect the loss of a major tax remitter beginning in July. Growth of 6.0% through
the first 4 months is not projected to offset this revenue loss. The reduced revenue is expected to begin with July receipts.
Future year projections will reflect the full year amount of approximately $83,500.
C A reduction in the Food & Beverage tax is expected as a portion of these taxes generated by the businesses at Randhurst
Village will be utilized to satisfy the obligations of the redevelopment for that property.
D Projections for the Telecommunication tax have been revised to reflect actual receipts for 2011. This amount also reflects
a one -time catch -up payment for back taxes from prior years. This revenue source had been reduced during the
preparation of the 2012 budget. Receipts have since returned to normal levels.
E Revenue from Other Utility Taxes (Gas and Electric) are expected to fall short, primarily due to lower gas usage from a
milder than expected winter. A slight premium was added to the projection for Electric utility taxes to account for the
extremely warm summer to -date.
F Other Licenses, Permits & Fees are expected to come in higher than budget as a result of higher than expected building
permit activity. Total receipts through the first six month are at 85% of budget. Receipts for the remaining six months are
projected to come in at normal levels.
G It appears that the State Income Tax has finally reached a point where growth, albeit small, is beginning to be realized.
This revenue was 12.6% above the prior year after six months. The final six months is projected to come in at 2.5 %.
Growth rate uses Illinois Municipal League estimate.
H The Personal Property Replacement tax decreased 9.8% for the period of May 2011 -April 2012 per IML estimates. This
decline is reflected in the current estimate for Other Intergovernmental Revenues. A 2% increase is expected during the
2012/2013 State of Illinois fiscal year.
I A decline in Circuit Court fines and Parking fines accounts is responsible for Fines & Forfeits missing budget. These two
revenue items are expected to fall short of budget by $47,000 (Circuit Court) and $75,000 (Parking).
j Reserves from a grant from the initial build out of the Community Connections Center will be used to pay for the Center
expansion.
K Overall, revenues are anticipated to come above budget by $404,256 while expenses are assumed to come in at the
amended budget amount with the exception of the additional amount for the Community Connections Center build out.
The General Fund had shown a deficit of $186,914 after amendment #1. Taking into consideration adjusted revenues and
the previously mentioned Center expenses the General Fund is now showing a surplus of $122,342.
2 of 2 Mid -Year Review - 2012.xlsx
Exhibit II
Village of Mount Prospect, Illinois
General Fund - Revenues and Expenditures
2013 Forecast
Notes
A
B
C
J1
E
F
G
H
1 of 2 General Fund Forecast 2013 - Mid - Year.xlsx
(a)
(b)
(c)
(d)
(e)
2012
2013 Forecast
Current
Original
Current
Increase
Percent
Projections
Forecast
Forecast
(Decrease)
Change
Revenues:
Property Taxes
12,206,500
12,781,500
12,781,500
0
0.00
Sales Taxes - ROT Portion
10,890,000
11,220,000
11,110,000
(110,000)
(0.98)
Sales Taxes - HMR Portion
1,180,000
1,250,000
1,180,000
(70,000)
(5.60)
Food and Beverage Tax
695,000
800,000
730,000
(70,000)
(8.75)
Real Estate Transfer Tax
395,000
400,000
400,000
0
0.00
Telecommunications Tax
3,230,000
2,475,000
2,875,000
400,000
16.16
Other Utility Taxes
1,675,000
1,821,000
1,821,000
0
0.00
Other Taxes
179,000
194,000
194,000
0
0.00
Vehicle Licenses
1,405,000
1,405,000
1,405,000
0
0.00
Other Licenses, Permits, Fees
1,850,000
1,743,000
1,800,000
57,000
3.27
State Income Tax
4,500,000
4,475,000
4,585,000
110,000
2.46
Other Intergovernmental
1,364,000
1,438,900
1,390,000
(48,900)
(3.40)
Charges for Services
1,505,000
1,532,120
1,505,000
(27,120)
(1.77)
Fines and Forfeits
391,000
507,000
400,000
(107,000)
(21.10)
Investment Income
25,000
25,000
25,000
0
0.00
Other Revenue
461,238
465,300
465,300
0
0.00
Total Revenues
41,951,738
42,532,820
42,666,800
133,980
0.32
Expenditures
Public Representation
566,260
560,462
560,462
0
0.00
Village Manager's Office
2,468,604
2,600,607
2,600,607
0
0.00
Television Services Division
168,334
173,884
173,884
0
0.00
Village Clerk's Office
146,997
149,761
149,761
0
0.00
Finance Department
1,494,533
1,614,108
1,614,108
0
0.00
Community Development Dept.
2,160,692
2,205,683
2,205,683
0
0.00
Human Services Dept.
1,107,542
1,032,412
1,032,412
0
0.00
Police Department
15,222,990
15,725,447
15,725,447
0
0.00
Fire Department
11,885,304
12,209,732
12,209,732
0
0.00
Public Works Department
6,555,630
7,115,246
7,115,246
0
0.00
Emergency Events
6,505
0
0
Miscellaneous
46,005
46,150
46,150
0
0.00
Total Expenditures
41,829,396
43,433,492
43,433,492
0
0.00
Excess of Revenues over Expend.
122,342
(900,672)
(766,692)
133,980
Other Financing Sources /Uses
Transfers In
0
0
0
0
Transfers Out
0
0
0
0
Total Other Financing Uses
0
0
0
0
Excess of Revenues over Expend.
and Other Financing Uses:
122,342
(900,672)
(766,692)
133,980
Notes
A
B
C
J1
E
F
G
H
1 of 2 General Fund Forecast 2013 - Mid - Year.xlsx
Exhibit II
Village of Mount Prospect, Illinois
General Fund - Revenues and Expenditures
2013 Forecast
Notes
A Projection based on 2012 estimate. An adjustment was made to account for a full year's loss of revenue from sales tax
remitter that left the Village. 2.0% growth assumed.
B Projection based on 2012 estimate. No growth is assumed from prior year results in 5.6% decrease in the forecast
budget.
C A reduction in the Food & Beverage tax is expected as a portion of these taxes generated by the businesses at
Randhurst Village will be utilized to satisfy the obligations of the redevelopment for that property.
D Projections for the Telecommunication tax have been revised to reflect estimated receipts for 2012. This revenue
source had originally been reduced during the preparation of the 2012 budget. Receipts have since returned to normal
levels.
E Projection based on 2012 estimate. Expect a leveling off during 2013.
F Projection based on 2012 estimate. 2.0% growth assumed.
G Projection based on 2012 estimate. 2.0% growth assumed.
H Projection based on 2012 estimate. 2.0% growth assumed.
I Typically annual savings from the annual budget range from 1 -2 %. To be conservative, no assumption were made for
the 2013 forecast. If the Village were to come in 1.0% below budget there would be a savings of $434,335.
j The total forecast deficit for 2013 is projected to decrease by $133,980 to $766,692 after considering the adjustments
made to the revenues. It is expected that this deficit would be eliminated through adjustments to existing revenues and
budget further reductions during the 2013 budget review process.
2 of 2 General Fund Forecast 2013 - Mid - Year.xlsx
Exhibit III
VILLAGE OF MOUNT PROSPECT, ILLINOIS
BUDGET CALENDAR
2012 and 2013
2012
DATE
ACTION
2013
DATE
3/4/11
Capital Improvement Plan (CIP) Worksheets forwarded to Department Directors
3/2/12
3/18/11
Completed Computer CIP Worksheets returned to Finance Department
3/16/12
4/1/11
Remaining CIP Worksheets returned to Finance Department
3/30/12
4/26/11
Prior Year Budget Wrap -up and Preliminary Q1 Review
4/24/12
5/9/11
Department CIP reviews with Village Manger and Finance Director
5/7/12
to 5/13/11
to 5/11/12
5/20/11
Complete Proposed CIP Amounts
5/18/12
6/10/11
Deliver Proposed CIP to Village Board and Finance Commission
6/15/12
6/23/11
Review Proposed CIP with Finance Commission
6/28/12
7/12/11
Committee of the Whole - CIP Review Session
7/10/12
7/19/11
Acceptance of Proposed CIP at Village Board Meeting
7/17/12
7/13/11
Budget Kickoff Meeting - Access to Logos. NET Budget Software
7/11/12
8/9/11
Committee of the Whole - Mid -Year Budget Review and Pre - Budget Workshop
8/14/12
8/19/11
CIP available for distribution
8/17/12
8/12/11
Completed Departmental Budgets Advanced to Level 3 - Finance
8/10/12
8/12/11
Revenue Estimates completed by Finance Department
8/10/12
Exhibit III
VILLAGE OF MOUNT PROSPECT, ILLINOIS
BUDGET CALENDAR
2012 and 2013
2012
DATE
ACTION
2013
DATE
8/25/11
Personnel Budget Review
8/23/12
8/29/11
Department Budget reviews with Village Manager and Finance Director
8/27/12
to 9/01/11
to 8/29/12
9/16/11
Complete Proposed Budget Amounts
9/14/12
10/14/11
Deliver Proposed Budget to Village Board and Finance Commission
10/12/12
10/14/11
Proposed Budget available for public inspection at the Village Clerk's Office and the
10/12/12
10/20/11
Review of Proposed Budget with the Finance Commission
10/18/12
10/27/11
10/25/12
11/3/11
11/1/12
10/25/11
Committee of the Whole - First Budget Hearing (7:00pm - 10:00pm)
10/23/12
Overview, Departmental Presentations
11/8/11
Committee of the Whole - Second Budget Hearing (7:00pm - 10:00pm)
11/13/12
Departmental Presentations
11/22/11 Committee of the Whole - Third Budget Hearing (7:00pm - 10:00pm) 11/27/12
If Necessary
12/6/11 Truth in Taxation Public Hearing 12/4/12
12/6/11 First Reading of Proposed Budget Ordinance at Village Board Meeting 12/4/12
12/20/11 Public Hearing and Second Reading of Proposed Budget Ordinance at Village Board 12/18/12
1/20/12 Approved Budget available for distribution 1/18/13