HomeMy WebLinkAboutTab 2: 2013 First Quarter ReviewVillage of Mount Prospect, Illinois
General Fund - Revenues and Expenditures
2013 Quarterly Review - 01
Expenditures
Public Representation
(a)
(b)
(c)
(d)
(e)
Village Manager's Office
2,799,917
2,579,736
547,890
2,579,736
Budget
Television Services Division
158,051
2013
YTD Actual
2013
Variance -
Village Clerk's Office
2012
Amended
01/01/13-
Current
Favorable
Finance Department
Actual
Budget
3/31/2013
Estimate
(Unfavorable)
Revenues:
2,064,816
2,243,285
436,158
2,243,285
0
Property Taxes
12,184,094
12,853,668
6,301,416
12,853,668
0
Sales Taxes - ROT Portion
11,040,403
11,475,000
0
11,475,000
0
Sales Taxes - HMR Portion
1,212,506
1,235,000
0
1,235,000
0
Food and Beverage Tax
710,328
740,000
100,506
740,000
0
Real Estate Transfer Tax
515,330
435,000
92,666
450,000
15,000
Telecommunications Tax
3,034,829
2,935,000
0
2,935,000
0
Other Utility Taxes
1,623,436
1,833,500
364,788
1,833,500
0
Other Taxes
205,537
204,500
30,718
204,500
0
Vehicle Licenses
1,383,836
1,385,000
544,115
1,385,000
0
Other Licenses, Permits, Fees
2,143,263
1,979,000
433,953
2,025,000
46,000
State Income Tax
4,759,513
4,705,000
0
4,760,000
55,000
Other Intergovernmental
1,386,713
1,510,630
255,149
1,510,630
0
Charges for Services
1,539,503
1,493,000
295,748
1,543,000
50,000
Fines and Forfeits
410,371
480,000
131,581
500,000
20,000
Investment Income
29,927
35,000
4,563
35,000
0
Other Revenue
438,133
1,022,700
124,665
1,007,700
(15,000)
Total Revenues
42,617,723
44,321,998
8,679,869
44,492,998
171,000
Expenditures
Public Representation
509,625
556,686
88,678
556,686
0
Village Manager's Office
2,799,917
2,579,736
547,890
2,579,736
0
Television Services Division
158,051
175,613
40,083
175,613
0
Village Clerk's Office
148,893
153,241
41,124
153,241
0
Finance Department
1,505,297
1,733,417
413,408
1,733,417
0
Community Development Dept.
2,064,816
2,243,285
436,158
2,243,285
0
Human Services Dept.
1,086,049
1,062,725
245,375
1,062,725
0
Police Department
15,286,395
15,834,702
4,336,693
15,834,702
0
Fire Department
11,946,075
12,582,942
3,462,680
12,582,942
0
Public Works Department
6,302,933
7,364,350
1,595,738
7,364,350
0
Emergency Events
4,213
0
0
0
0
Miscellaneous
46,004
46,151
11,537
46,151
0
Total Expenditures
41,858,267
44,332,848
11,219,363
44,332,848
0
Excess of Revenues over Expend.
759,456
(10,850)
(2,539,494)
160,150
171,000
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:
759,456
(10,850)
(2,539,494)
160,150
171,000
Notes
A
B
C
D
E
F
G
W
1 of 2 1 st Quarter Review - 2013.xlsx
Village of Mount Prospect, Illinois
General Fund - Revenues and Expenditures
2013 Quarterly Review - Q1
Notes
A There has been a slight increase in activity in the Real Estate Transfer Tax in 2013. Through March 31, the
Village has received $92,666 this year against $72,351 in 2012. A slight adjustment was made to account for
the strong start to the year for this revenue source.
B Strong Building Permit activity through March 31 st account for the upward adjustment to this revenue source.
C An adjustment to the State Income Tax was made to bring up to the level received in 2012. No increase is
anticipated from 2012.
D Ambulance Fees ended 2012 at $806,071. The 2013 budget projected $750,000. An adjustment was made to
increase estimated Ambulance Fees to the prior year level.
E This revenue category is expected to come in at budget except for the budget for Local Ordinance Fines. There
was a single large LO fine that accounts for the projected increase in these revenues.
F A slight adjustment is being made based on receipts through the first three months of the year.
G The amended budget for 2013 reflects changes made to the budget per Budget Amendment #1 approved by the
Village Board in March. To be conservative, no other additional spending or savings are being built into this
projection. Typically there is between 1% and 2% of savings in total expenses annually. A 1% savings to the
budget returns approximately $443,000 to General Fund reserves to help maintain an appropriate fund balance.
H Overall, revenues are anticipated to come in $171,000 over the amended budget while expenses are assumed
to come in at the amended budget amount. The General Fund had shown a deficit of $10,850 after amendment
#1. Taking into consideration the adjustment in total revenues, the General Fund is showing a surplus of
2 of 2 1 st Quarter Review - 2013.xlsx