village of mount prospect
VILLAGE OF MOUNT PROSPECT 2007 BUDGET SUMMARY TOTAL VILLAGE BUDGET
REVENUES AND OTHER SOURCES Property Taxes Other Taxes Licenses, Permits & Fees Intergovernmental Revenue Charges for Service Fines and Forfeits Investment Income Reimbursements Other Revenue Interfund Transfers Other Financing Sources Village Revenues and Other Sources
Mount Prospect Library Revenues Total Revenues and Other Sources
BUDGET EXPENDITURES Village Operating Budget Village Capital Budget Debt Service Budget Pension Systems Budget Internal Services Budget @) Total Village Expenditures
Mount Prospect Library Budget Total Expenditures (d)
CHANGES IN FUND BALANCES Excess (Deficiency) of Revenues & Other Sources Over Expenditures
2005
2006
2006
2007
2008
Actual
Budget
Estimate
Budget
Forecast
11,839,088 14,621,028 3,148,227 15,430,383 16,597,244 610,451 7,216,999 435,665 4,673,038 972,824 2,198,954 77,743,901
10,441,909 14,566,963 2,880,166 16,052,627 20,422,428 547,200 4,2 11,275 347,788 4,762,088 3 15,000 3,860,000 78,407,444
10,537,909 15,073,743 3,004,000 16,219,958 20,225,666 5 10,000 5,085,400 313,318 4,9 12,894 496,328 60,000 76,439,216
10,740,712 15,384,659 2,954,888 16,480,809 21,409,733 553,000 5,501,950 27 1,240 4,972,704
11,073,364 15,327,371 2,955,117 16,603,246 22,468,957 552,100 5,591,300 596,240 5,320,194
60,000 78,329,695
60,000 80,547,889
1 7,s 17,924 8,113,291 a) 85,26 1,825
86,520,735
84,552,507
86,901,723
80,547,889
47,687,938 4,666,948 4,540,75 1 4,743,279 6,522,689 68,161,605
49,219,982 13,044,229 3,833,577 4,95 1,821 7,807,209 78,856,818
50,371,779 7,374,859 3,818,463 4,999,339 7,436,352 74,000,792
5 1,826,996 7,366,920 4,163,928 5,137,624 8,076,630 76,572,098
53,835,690 9,616,110 4,649,553 5,254,591 8,628,65 1 81,984,595
1 7,167,072 8,113,291 a) 75,328,677
86,970,109
82,114,083
85,144,126
81,984,595
(dl 9,933,148
(449,374)
2,438,424
1,757,597
(1,436,706)
Fund Balances Start of Budget Year
97,889,740
107,822,888
107,822,888
110,261,312
1 12,018,909
End of Budget Year
107,822,888
107,373,514
1 10,261,312
112,018,909
110,582,203
Less: Pension Fund Balances ( c )
(75,375,958)
(77,484,557)
(77,899,754)
(81,025,453)
(84,506,585)
32,446,930
29,888,957
32,361,558
30,993,456
26,075,618
Available Fund Balances (a) (b) (c) (d)
Not available as of December 19, 2006. Internal Services Budget includes Vehicle Maintenance Fund and Risk Management Fund. 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 o f operation of the Mount Prospect Library for 2008 Forecast.
VILLAGE OF MOUNT PROSPECT 2007 BUDGET SUMMARY REVENUES AND OTHER SOURCES BY REVENUE TYPE
1 PROPERTY TAXES OTHER TAXES Home Rule Sales Tax Food & Beverage Tax Special Service Area Taxes Property Tax Increment Real Estate Transfer Tax Utility Taxes Municipal Motor Fuel Tax Other Taxes
LICENSES, PERMITS & FEES Vehicle Licenses Other Licenses Permit Fees Franchise Fee Other Fees
INTERGOVERNMENTAL REVENUE State Sales Tax State Income Tax State Motor Fuel Tax Other State Taxes Community Devl Block Grant Other Grants
CHARGES FOR SERVICE Water & Sewer Charges Parking Charges Refuse Disposal Charges Internal Service Fund Charges Other Service Charges
FINES AND FORFEITS INVESTMENT INCOME General Fund Pension Funds Other Funds
Actual
Budget
Estimate
Budget
Forecast
11,839,088
10,441,909
10,537,909
10,740,712
11,073,364
3,770,535 732,570 1,562,343 1,862,132 1,5 15,403 4,770,080 191,192 2 16,773 14,621,028
3,914,197 725,505 1,524,100 2,397,911 1,075,000 4,468,900 300,450 160,900 14,566,963
3,944,750 753,305 1,564,100 2,058,388 1,398,000 4,818,000 328,700 208,500 15,073,743
4,080,000 775,000 1,534,100 2,308,359 1,331,000 4,818,000 328,700 209,500 15,384,659
4,201,000 798,000 1,534,100 2,104,071 1,33 1,000 4,818,000 328,700 2 12,500 15,327,371
1,367,162 348,847 764,835 364,184 303,199 3,148,227
1,365,000 348,000 5 17,000 340,000 310,166 2,880,166
1,385,000 345,500 600,000 375,000 298,500 3,004.000
1,385,000 34 1,500 532,000 375,000 321,388 2,954,888
1,385,000 34 1,500 532,000 375,000 321,617 2,955,117
8,101,017 4,198,734 1,667,55 1 952,732 338,864 17 1,485 15,430,383
8,862,500 4,000,665 1,625,115 950,875 449,3 17 164,155 16,052,627
8,263,000 4,392,500 1,603,500 1,025,720 609,583 325,655 16,2 19,958
8,511,000 4,524,000 1,587,500 1,071,500 489,809 297,000 16,480,809
8,766,000 4,660,000 1,587,500 1,121,000 428,546 40,200 16,603,246
7,387,943 197,775 1,025,803 7,300,453 685,270 16,597,244
8,846,611 202,000 1,058,330 7,778,405 2,537,082 20,422,428
8,974,471 198,000 1,040,350 7,779,234 2,233,611 20,225,666
9,420,000 198,000 1,192,450 8,028,25 1 2,571,032 21,409,733
9,846,000 198,000 1,252,450 8,575,348 2,597,159 22,468,957
610,451
547,200
5 10,000
553,000
552,100
21 1,172 6,4 13,078 592,749 7,2 16,999
204,700 3,5 19,425 487,150 4,2 1 1,275
395,800 3,784,600 905,000 5,085,400
397,000 4,335,500 769,450 5,501,950
397,000 4,498,500 695,800 5,591,300
I
I
VILLAGE OF MOUNT PROSPECT 2007 BUDGET SUMMARY REVENUES AND OI'IIER SOURCES BY REVENUE TYPE
f+
2005 Actual REIM RCNSEMENTS
OTHER REVEN UK V~llagePolice SL Fu.e Pertslon Contr~but~ons Developer ilonattons EnlpIoyce & Ikttree (:ontnhuttons Olher Revenue
'l'O'rAIA VILI,AGE REVENUES
JNTERFUKD TRANSFERS
OTHRH FINANCING; SOURCES Bond Proceeds Sale of Property
. MOlJN'T PROSPECT 1,IBRARY REVENUES
CHANGES IN FUND BALANCES Total Rcveilues &. Other Sources 'l'i~tdl Expendit~~res hrirli:ions to <Use o P Fund Balances
ANALFSSS OF CHANGES IN :FUND BALANCES Add~tionsto Pension Fund Balances Additiofis to Other Fund Balar~ces ,:.Use of> Other Fund Balances
1 (a) (h)
Figures [lot available as of December 19, 2006. Does not i~lcludethe M o l ~ n Prospect t Library.
2006
2006
2007
Budget
Estimate
Budget
2008 Forecast
435,665
347,785
313,318
27 1,340
596,240
2,289,574 135,500 1,853,573 396,391 4,673,038
2.348,3-72 14,500 2,036.39 1 262,925 4,763,088
2.471,875
2,940,463
?,,I 66.71 9 254,600 4 1 2,894
2,677,040 14,500 2,050,064 231,100 4,972,7124
74,572,123
74,232,444
75,382,888
977,E74
3 15,000
396,328
2.198,954 2,198,954
3,800.000 60,000 3,860,000
7.51 7,924
i4,500
2,148,63 1 231,100 5,320.194
78,3-69,695
80,487,869
60,000 60,OW
00,1100 60,000
60,000 60,000
8,113.29 1
S.113,291
8,572.028
85,261,875 76.9 18,175 8,343,(;50
86,520,735 86,970,109 (449,374)
84,552,507 82.1 14,083 2.338,424
86.901,723 85,144,126 1,757,597
80,547,889 8 1,983,595 (1,336,7!)6)
5.089,746
2,164,208
2,527,796
3.125,699
(b) 3,481,132
3,253,904 8,343,650
(2,613,582) (449,374)
(85,372) 2,438.324
1 ,368,102) 1,757,597
(4,917,838j (1,436,7063
(a)
(b)
(
VILLAGE OF MOUNT PROSPECT 2007 BUDGET SUMMARY
BUDGET EXPENDITURES L
2005
2006
2006
2007
2008
Actual
Budget
Estimate
Bucfget
Forecast
VI1,LAGE OPERATING BUDGET PKIH1,IC' REPRESENTATION
114.467
1 18,893
122.49h
128,280
13 1.991
1.624,977 505,949 2.130,936
1 ,SOS,531 69 1,200 2,496,731
1,826,054 659,683 2,485,737
3,046,634 517,309 3,573,943
2.1 26,4 12 458,536 2,584,958
600.097
733:56 1
737,302
756,007
795.733
Village Manager's Office 'Television Services Division Village Clerk's Office Finance Departmat
COMMUNITY DEVELOPMENT Communrty Developrnen t Community Vevelop1ncntfCI>U(3 Totals
HUMAN SERVICES DEPAItTMEN'1'
PUBLIC SAFETY k T D PROTECTION Police Dcpatt~nent F ~ r eDcpartri~ent Totals
1 1,594,501 9,3S3,70S 10,978,209
1 1,532,925 8.7?1,426 20,255,354
1 1.494,747 8,713,383 20,208,130
12,220,226 9.085,329 21.305,555
12,756,154 !),581,668 2,337,522
PUBLIC WORKS DEPARTMENT ,4dtninistratior1 ScreetdBldgsiParking Forestry Etlgincering Water/Sewer Kcfusc Disposal 'I'otals
'1 ?083,784 2,639,s 15 '1,413,905 I,O 19,886 9,007,000 3,534,90(i 15,698,986
1,184.708 2,60S.38.3 1,553.262 1,765,962 10,223,607 3,960.243 20,902,l(iS
I , 1 90,652 2,63!),939 1,563,373 1.383,070 10.236,AOS 41011,E35 2 1,075,677
1,259,759 2,728,700 1,671,212 1,204,207 i 1,!3 1,631 4,029,607 22,115.1 16
1,262,587 2,962,704 1.772,631 1,397,651 1 1.362,492 4,195,(iOS 22,953,763
C'!.V9,1 10
1,450.36 1
1 .U5,247
1 ,(i85,359
1,280,77.3
1,427,596
1,386.54 1
1 .386,541
1,408,894
1.61 3,880
VILLAC E LN'I'ERNAI; SERVICES BUDGET Vehicle Maintenance Services Risk Management ("asuaIty anti Property Insurance M e d ~ c aInsurance l '~otals
1,305,190
1,450,029
1,153:496
1,573,353
1,673,55 1
937,227 4,280,272 6,522,689
1,325,465 5,03 1,695 7,0709
951$16! 5,113 1:G95 7,435,352
1,360,353 5,142,924 5,076,630
1,380,242 5,574,858 8,628,65 1
MOUIV?' PROSPECT I,iRRARY BUDGET
'7,165,072
8.1 13,291
8,! i3,?91
E.5?2,02S
(a) (h)
Figures not available as of Dece~nber19,200G. Does not ~ncludethe Mount Prospect I.ibl-ary for 2008 Forecast.
(4
1
VILLAGE OF MOUNT PROSPECT
I
2007 BUDGET FUND SUMMARIES
I
Explanation of Fund Summaries
Illinois Statutes and Generally Accepted Accounting Principles require a municipality to account for revenues and expenditures on a "fund" basis. A fund is a separate accounting entity which is organized with a set of self-balancing accounts and which is established to accomplish a specific purpose. Funds may be required by state statute, Village ordinance, or by the Government Accounting Standards Board (GASB). For example, Illinois Statutes require Motor Fuel Tax monies to be accounted for in the Motor Fuel Tax Fund. Village bond ordinances generally require separate bond proceeds funds and separate bond and interest funds, and the GASB has established specific h n d types and fund groups to ensure consistency of reporting by municipalities. The Village's fund structure conforms to these legal and accounting requirements. Although the Village is required to account for revenues and expenditures on a fund basis, the Village's Annual Budget is not organized along fund lines. Revenues are recorded in the appropriate fund, but expenditures are reported by program within a department or division regardless of the fund that is providing the resources. All line-items are identified by a fund code and fund totals are summarized by department or division. However, overall fund totals are not included in the expenditure portion of the budget document. This type of budget structure emphasizes the overall cost of the program rather than an expenditure from a particular source of revenue. To satisfy the legal and accounting requirements that revenues and expenditures are accounted for on a "fund" basis, budget line-item amounts are aggregated by fund and presented in the following three summaries: 1) Revenues and Other Sources By Fund; 2) Expenditures By Fund; and 3) Available Fund Balances. The first two schedules show actual amounts for 2005, budget and estimated amounts for 2006, budget amounts for 2007, and forecast amounts for 2008. The Available Fund Balances schedules add the estimated fund balances as of the start of the year with budget revenues and then subsequent budget expenditures to arrive at the estimated fund balances at the end of the year. Available Fund Balances schedules that show the estimated balances as of December 31, 2007 and December 3 1, 2008 are included. The Available Fund Balances schedules compare the expected fund balances at the end of the year with the Village's recommended or "target balances" for each fund and fund group. Target balances represent the amounts needed for sound fiscal policy and adequate cash-flow needs. Although the Available Fund Balances schedules are not a required schedule, they provide valuable information for fiscal planning purposes.
VILLAGE OF MOUNT PROSPECT 2007 BUDGET SUMMARY REVENUES AND OTHER SOURCES BY FUND
GENERAL FUND
SPECIAL REVENUE FUNDS Refuse Disposal Fund Motor Fuel Tax Fund Law Enforcement Block Grant Community Dev. Block Gmt Asset Seizure Fund DEA Shared Funds Fund DUI Fine Fund Foreign Fire Tax Board Fund
DEBT SERVICES FUNDS G.O. Bonds - Property Taxes G.O. Bonds - Tax Increment G.O. Bonds - Home Rule Sales Tax I G.O. Bonds - Home Rule Sales Tax 2 Special Service Area Bonds
CAPITAL PROJECTS FUNDS Capital Improvement Fund Downtown Redevlpmnt Const Street Improve Const Fund Flood Control Const Fund
ENTERPRISE FUNDS Water And Sewer Fund Village Parking System Fund Parking System Revenue Fund
INTERNAL SERVICE FUNDS Vehicle Maintenance Fund Vehicle Replacement Fund Computer Replacement Fund Risk Management Fund
2005
2006
2006
2007
Actual
Budget
Estimate
Budget
35,9 18,259
34,161,I 76
34,729,890
35,785,983
36,577,923
3,325,990 1,741,319 769 505,948 10,125 1,549 20,642
4,033,827 1,639,215 1,000 499,3 17 1,100 2,500 23,300
5,606,342
6,200,259
4,077,847 1,651,250 1,030 659,683 10,750 2,500 20,450 89,402 6,5 12,912
4,300,751 1,628,750 1,000 549,809 2,600 2,500 20,350 5 1,500 6,557,260
4,4 19,740 1,946,250 1,000 488,546 1,700 2,500 20,350 55,500 6,935,586
2,160,882 1,086,922 1,267,436 370,240 29,141 4,9 14,621
1,726,105 1,046,250 1,3 1 1,897
1,745,105 1,057,400 1,327,750
1,321,750 1,165,007 1,367,550
1,320,100 1,151,000 1,401,300
4,084,252
15,350 4,145,605
3,854,307
3,872,400
346,567 1,902,053 1,526,745 29,966 3,805,33 1
52,626 5,167,911 1,769,955 27,250 7,O 17,742
207,626 1,100,401 1,924,868 42,000 3,274,895
262,800 1,220,052 1,711,100 32,000 3,225,952
2,743,971
9,092,687 106,845 106.086 9,305,6 18
10,512,211 102,756 238,455 10,853,422
10,709,571 95,740 240,805 1 1,046,116
11,149,100 96,738 1 1 1,100 1 1,356,938
11,576,600 96,967 11 1,100 11,784,667
1,313,248 1,039,279 168,250 5,887,05 1 8,407,828
1,450,058 1,083,413 180,020 6,3 16,682 9,030,173
1,455,258 1 ,I 89,383 194,949 6,4 10,682 9,250,272
1,573,353 1,093,626 189,547 6,473,939 9,330,465
1,697,114 1,093,626 190,477 6,961,862 9,943,079
Forecast 2008
1,004,071 1,739,900
1
T
VILLAGE OF MOUNT PROSPECT 2007 BUDGET SUMMARY REVENUES AND OTHER SOURCES BY FUND
*
L
2005 Actual
2006 Budget
2006
Estinute
2007 Budget
2008 Forecast
w
FIUIJCIIAKY FUNDS Police Pension Fund Filr Pension Fund Series 2002 Library Bond
MOUNT PROSPECT 1,lBRARY FUND
(a)
(b)
Figures not available as of Deceniher 19, 2W6. Does not i~lcludethe Mount Prospect 1,ibrary.
4,968,994 4,813,56S 3,340 9,755,902
3,654,043 3,406,377
3,')76,05 1 3.503,475
4,125,500
4,093,290
4,361,824 4,328,439
7,060,420
?,479,52(i
8,218,790
5,690,263
7 3 17.924
S, 113,29 1
8 , ) 13.291
8.572,OLS
(2)
I
VILLAGE OF MOUNT PROSPECT 2007 BUDGET SUMMARY EXPENDITURES BY FUND
GENERAL FUND
SPECIAL REVENUE FUNDS Refuse Disposal Fund Motor Fuel Tax Fund Local Law Enforcement Block Grant Community Development Block Grant Asset Seizure Fund DEA Shared Funds Fund DUI Fine Fund Foreign Fire Tax Board Fund Totals
2005 Actual
2006 Budget
2006 Estimate
2007 Budget
2008 Forecast
33,650,878
33,445,888
34,550,926
35,371,051
36,951,284
4,029,607 1,729,610 1,000 527,309 1,000 1,000 1,000 10,000 6,300,526
4,195,608 2,179,086 1,000 458,546 1,000 1,000 1,000 10,000 6,847,240
3,534.906 1,920,890 769 505,949 30,420 26,199
3,960,243 2,538,717 1,000 69 1,200 1,100 2,500 1,000
6,O 19,133
7,195,760
4,011,835 2,138,717 1,000 659,683 1,000 5,629 1,s 00 3,130 6,822,494
DEBT SERVlCE FUNDS G.O. Bonds - Property Taxes G.O. Bonds - Tax Increment G.O. Bonds - Home Rule Sales Tax 1 Special Service Area Bonds Totals
1,979,110 1,096,145 1,427,696 37,800 4,540,75 1
1,450,361 996,675 1,386,54 1
1,435,247 996,675 1,386,54 1
1,685,359 1,069,675 1,408,894
1,280,773 1,754,900 1,613,880
3,833,577
3,818,463
4,163,928
4,649,553
CAPITAL PROJECTS FUNDS Capital Improvement Fund Downtown Redevelop Const Fund Street Improvement Const Fund Flood Control Const Fund Totals
358,122 380,048 1,301,756 186,334 2,226,260
1,658,901 6,046,726 1,597,657 527,538 9,830,822
1,417,443 1,24 1,049 1,593,657 353,053 4,605,202
738,000 1,88 1,200 2,07 1,000 244,000 4,934,200
2,440,700 1,492,400 2,187,560 700,000 6,820,660
ENTERPRISE FUNDS Water and Sewer Fund Village Parking System Revenue Fund Parking System Revenue Fund Totals
9,007,000 210,324 159,502 9,376,826
10,229,607 152,798 260,865 10,643,270
10,236,608 153,313 261,324 10,65 1,245
11,131,631 123,154 156,448 11,41 1,233
11,362,492 203,332 145,610 11,711,434
INTERNAL SERVICE FUNDS Vehicle Maintenance Fund Vehicle Replacement Fund Computer Replacement Risk Management Fund Totals
1,305,190 935,933 183,846 5,229,972 7,654,94 1
1,450,029 1,030,680 162,800 6,367,780 9,011,289
1,453,496 986,980 162,800 5,993,456 8,596,732
1,573,353 96 1,470 249,050 6,514,196 9,298,069
1,673,55 1 1,O 14,200 141,200 6,966,342 9,795,293
VILLAGE OF MOUNT PROSPECT 2007 BUDGET SUMMARY EXPENDITURES BY FUND 2005 Actual
2006 Budget
FIDUCIARY FUNDS Pol~cePenston Fund F ~ r eP c ~ l s ~ o Fund r~ Totals
2,30508 2,387.308 4,692.816
2.3?5,461 2,520,?5 1 4,896,2 12
4 3 . 3 1,51S.497 4,955,730
2.465,133 2.627,95S 5.093,Oc)l
MOUNT PROSPECII' LIBRARY BUDGET
7,167,072
8,113,291
$,I 13,291
8,572.028
2006 Estimate
2007 Budget
2008 korecast
"
1
(a)
(6)
Figures not ova.ilal,le as of 1)ecerrlber 19,2006. Does not include the Moutit Prospect Library for 2008 F,'orecast.
12
2,523,753 2,685..3?8 5,209.13 1
(a)
VlLLAGE OF MOUNT PROSPECT 2007 BUDGET SUMMAKY AVAILABLE FUND B AL,ANCES 12-31-2007 L
R e f u . ~Disposal Fund Motor Fuel Tax Fund I..oca! I.aw Enf. Block Grant €lonmiinity Development Block Grnt Asset Seizure Fimd IIEA Shared Funds Fund DCl Fine Fund Foreign Fire Tax Board Fund
DEB'L'SERVICISSPirFins G.0. Bonds - Property Taxes G.O. k3onds - Tau Increment €; 0. Bonds - Home Rule Sales Tax I Special Swvice Area Bonds TOTAL
Doivntown Rcdevclop Const Fund Street Improvement Const Fund Flood Control Const Fund
ENTERPRISE FUNDS Water md Sewer Funti (a) Village Parking System Fund (st) Pxkirig System Revenue Fund (a) 'T'O?'A L.
(a)
1,752,796 377,528
4,300;75 1 1,625,750
4,029,607 I .729,6l(i
502,682 580,956 (473,142) 17.415
1,321,750 1,165,007 1,367,550
1.685,359 1.069,675 1.408,8'94
869,SO 1
3,220,052
1,581.200
4,082,840 162,013 17,767 4,262,610
1 I ,140,iOO 96,738 1 1 1,100 1 1,356,938
11,131,631 123,154 156,448 11,411.233
Estimated balances reflect cash and investrncr~tbalance, not fund equity.
2,023,910
139,073 676,2X8 (5 14,486) 1 ?.435
1
4,100,309 $ 135,597g (17,581) $ 4,208,125 .4
$
VILLAGE OF MOUNT PROSPECT 2007 BUDGET SUMMARY AVAIIAARI-E FUFD BALANCES 12-31-2007
Estimated Balance
Vehicle Maintenance Fund Vehicle Replac.ement Fund Computer Replacerne~ltFund Risk Managentent Fund
(I>) (c)
526,187 5,630,017
2007
Budgct
1,573,353 1,093,626
2007 Budget
961,470
Estimated Balance
3,762.17
Estirtuted balances for lnternal Service Funds reflect utlrestrictcd net asscts ordy. Pension Funtls are restricted for filttlre pension benefits and do not cut~stitute",4vailahle Fund Salanczs.'"
VILLAGE OF MOUNT PROSPECT
I
2007 BUDGET SUMMARY AVAILABLE FUND BALANCES 12-31-2008
GENERAL FUND
Motor Fuel Tax Fund Local Law Enf, Biock Grant Comnlunity Developnlcn~Block Cirnt Asset Seizure Fund DEA Shared Funds Fund
G.O. Bonds - Tax Increment G.O. Bonds - Home Rule Sales'hx I Special Selvicc Area Bonds
Capital Irnprovcn~entFund Downtown Rdevelop Const Fund Strr-et lmpmvernent Canst Fund Flood Control Const Fund
(a)
11,110,273
36,577.923
36.451.384
10,736,912
2,023,940 276,668
4,419,940 1,946,250
4,195,608 2,179,086
2,248,072
1 ,I 51,OUO 1,401,300
1,613,880
676,288 )
2,440,700 559,016
3,739,900
2,187,560
Estimated halances rellect cash and investn~eritbalance, not fund equity.
(2,368,731)
VILLAGE OF MOU-NTPROSPECT 2007 BUDGET SUMMARY AVAILABLE FUND BALANCES 12-31-2008 4
INTELYAL SERVICE FUNDS (b) Vehicle Maintmancc Fund Vehicle Replacement Fund
526,187 5,752,173
1,697,114 1,093,626
1,014,200
1,361,824
2,527,753
5,811.59
Computer Replacenlent Fund Risk Manage~nentFund
30.5 10,721
42,348,792
Fire Pension Ftmd
ib) jc) (d)
(e)
Estin1atc.dbalances for-Ir~terrulService Fimds re:flect unrestricted net assets only. Pension Funds are restricted for htme pe~lsiorlt x ~ ~ e f iand t s do not constitute "Available Fund Balances." Not available as of December 19.2006. 1:)oes not include -Mount Prospect Library escept for Estirnal-ed Balwce 1-1-08,.
VILLAGE OF MOUNT PROSPECT 2007 BUDGET SUPPLEMENTAL INFORMATION
Supplemental Schedules and Graphics
The following schedules and graphics present historical and current information regarding Personal Services, Property Taxes, Long-Term Debt, the Cost of Providing Municipal Services, and a Profile of the Village of Mount Prospect. Following is an introduction to each presentation: Real Estate Taxes - There are four graphics and schedules included which contain information on Real Estate Taxes. The first graphic, Village Property Tax Levies and Tax Rates, shows Village tax levies and tax rates from 1998 - 2007. The schedule also lists equalized assessed valuation and the annual percentage change in the tax levies for the same period. The next schedule, Real Estate Tax Levies and Rate Comparisons, shows Village and Library Tax Rates and Tax Levies by purpose for 2005, 2006, and 2007. The next schedule shows the same information for the two Village Special Service Areas. The last graphic, Where Property Taxes Go, shows how property taxes are distributed to the various taxing bodies and the actual distribution of the 2005 property tax rate. Number of Authorized Positions - This schedule shows the number of fill-time, part-time, seasonal and full-time equivalent positions for 2005,2006, and 2007. Personal Services - The payment of wages and other compensation represent 47% of the operating budget. This schedule shows 2005 actual, 2006 budget and estimated amounts, budget amounts for 2007 and forecast amounts for 2008. The schedule organizes the personal service amounts by the type of Village Service provided. Long-Term Debt - One graphic and two schedules are included. The graphic shows the relative speed of how outstanding debt issues will be paid. The first schedule shows the maturity dates, the original amounts issued and outstanding balances of current and proposed bond issues. The second schedule shows the Annual Principal Requirements for 2007 through 2010 and the balance of payments due from 201 1 through 2022. This schedule classifies the various bond issues by the sources of revenue that will be used to fund the debt service payments. Cost of Municipal Services - Park Ridge Survey - This graph compares the Cost of Municipal Services Per Resident in Mount Prospect to the Average Cost Per Resident of all communities in the survey for the last ten years. Mount Prospect has consistently ranked near the bottom for this category. For the most recent survey, Mount Prospect was second lowest out of thirteen communities. Village Profile - This schedule presents information about the Village of Mount Prospect and its facilities and services.
These schedules and graphics are included to help gain a better understanding of some of the trends and influences that affect the Village's current and future fiscal plans.
VILLAGE OF MOUNT PROSPECT 2007 BUDGET SUMMARY Real Estate and Special Service Area Tax Levies and Tax Rate Comparisons (1)
2006 Tax Levy Actual
2005 Tax Levy Actual Rate
Rate (2)
Amount
Rate (2)
Amount
2007 Tax Levy Projected Amount C
Village Levies General Corporate Garbage G.O.Bonds Police Pension Fire Pension
$
Village Totals
Library Levies Operations Debt Service Library Totals
Special Service Area No. 5 JAWA Water Agency
$
.4572 -1221 .0914 -0805 .0749
$
7,291,530 $ .4765 1,947,965 .I276 .0840 1,457,567 .0865 1,284,363 1,194,264 .0845
$
7,491316 2,006,404 1,320,654 1,359,949 1,328,051
$
.4464 .I187 .0759 .0859 .0839
$
$
-8108
$14,117,416
$ -8261
$13,175,689 $ 3591
$13,506,574
$ .3642
.lo09
$5,809,344 $ .3900 .lo19 1,608,821
$6,132,588 1,601,477
$ .4651
$7,418,165 $ .4919
$7,734,065
.I168
$1,545,773
$
.I185
$1,545,773
(1) Tax rates per $100 Equalized Assessed Valuation. (2) Tax rates are estimated. (3) Changes in Equalized Assessed Valuation are based on 10 year historical trends. (4)
Not available as of the date of this report.
7,772,448 2,066,597 1,321,572 1,495,943 1,460,856
(4) (4)
$
.lo70
$1,545,773
VILLAGE OF MOUNT PROSPECT
I
I
Part-Time Employees
Full-Time Employees
Public Representation
Totals
I Full-Time Equivalent
Seasonal Employees 2005
2006
2007
2005
2006
2007
.85
.85
.85
-
-
10.35 2.80 2.00 15.00
10.35 3.10 2.00 15.00
11.35 3.10 2.00 15.00
3.00
3.00
30.15
30.45
31.45
2.00 1 .OO
2.00 1.00
2.00 1.00
20.90 1.20
20.90 1.20
22.90 1.20
1.00
3.00
3.00
3.00
22.10
22.10
24.10
1.00
1.00
2.00
2.00
7.60
7.60
7.60
2.00
2.00
-
2.00 1.00
5.00 21.00
5.00 22.00
5.00 21.00
105.50 80.70
110.50 83.90
11 1.50 84.20
192.50
2.00
2.00
3.00
26.00
27.00
26.00
186.20
194.40
195.20
3.00 13.10 9.20 7.10 23.40 2.60 8.00
3.00 13.10 9.20 7.10 23.40 2.60 8.00
0.70 1.00
0.70 1.00
0.70 1.00
1.00 2.70 0.60 1.00
1.00 2.70 0.60 1.00
1.00 2.70 0.60 1.00
5.00 8.00 2.00 5.00
5.00 8.00 4.00 4.00
6.00 8.00 4.00 7.00
3.00
2.00
2.00
3.35 14.60 10.80 7.90 25.75 2.90 9.10
3.35 14.60 10.80 8.30 25.55 2.90 8.90
3.35 14.80 10.80 8.30 26.15 2.90 8.90
66.40
66.40
66.40
7.00
7.00
7.00
23.00
23.00
27.00
74.40
74.40
75.20
0.10
0.10
0.10
1.00
1.00
1.00
-
0.20
0.20
0.20
365.00
313.00
317.00
24.00
24.00
61.00
321.50
329.80
334.60
2005
2006
2007
2005
2006
2007
0.15
0.15
0.15
7.00
7.00
7.00
9.85 2.00 2.00 13.00
9.85 2.00 2.00 13.00
10.85 2.00 2.00 13.00
1.00
1.00
1.00
4.00
4.00
4.00
26.85
26.85
27.85
5.00
5.00
5.00
2.00
20.00 1.00
19.95 1.05
22.00 1.OO
1.00
1.00
1.00
-
21.00
21.00
23.00
1.00
1.00
7.00
7.00
7.00
1.00
103.50 80.00
108.50 83.00
109.50 83.00
183.50
191.50
3.00 13.10 9.20 7.10 23.40 2.60 8.00
Village Administration Village Manager's Office Television Services Division Village Clerk's Ofice Finance Department
I
2007 BUDGET SUMMARY Number of Authorized Positions
-
1.00 1.00
1.00 2.00
1.00 2.00
Community Development Community Development Community DevelopICDBG Totals
Human Services Department
2.00
Public Safety and Protection Police Department Fire Department Totals
Public Works Department Administration StreetslBldgs/Parking Forestry Engineering WaterlSewer Refuse Disposal Vehicle Maintenance Totals
Community and Civic Svcs
Village Totals
-
3.00 56.00
57.00
VILLAGE OF MOUNT PROSPECT 2007 BUDGET SUMMARY PERSONAL SERVICES h.
7
2005 Actual PUBLIC REPRXSENl'A'rION
2006 Budget
2006 Estimate
2007 Budget 35.466
2008 Forecast
34,713
35,077
35,077
35,860
734.43 1 94.8 19 97,778 724.483 l,(i51.511
796,864 98,168 107,135 760,021 1,762,188
800,564 Y9,595 1' 10.464 76 1,304 1,772,527
898,539 101,484 1 13,075 796,825 1.9 10.923
915,650 106,127 1 17.250 S26.819 1,965.846
1,057,166 34,435 l,l01,60I
1.135,033 47,545 l,lS2,578
1,136,383 48,745 1,) 85.128
1,255,645 52,004 1,307,649
1,302.797 53.955 1,356.752
444,846
466,733
4?7,b29
478,186
496.280
, VILLAGE ADMINISI'RATION Village Manager's Office Television Services Dirlsion Village Clerk's Office Finance Tkpartnwxt Totals
COMMLriYITY DEVELOPMENT Community Drt-rl(qmtent Community Dr.trl(vmentlCT)HG Totals
1
HUMAN SERVICES DEPARTMENT
1 PUBLIC WORKS DBPAR'r:MENT Administration Strerts!BldgsTarkii~g Forestry Engineering Waterisewer Refuse T)lsposal Vzhicfe Maintenance 1 otals P.
228,939 237.71 1 1,161,275 1,092.0?6 '705,207 679.609 54 1 ,?&I 586.406 1,716,145 I ,75 1.203 226,024 212.298 63 1,777 68 1.4tiO 5,21 1,131 5,240.762
239,489 1,080,448 (>86.,958 b(Hi,934 1.736,l 1 1 2 14,282 683,001 5,241,723
237,193 i,108,580 697, i 62 622.1 16 1,783.337 230,544 695.54 1 5,374,573
245,748 I , 149,480 722,952 656,173 1,839,926 238,649 743,s 10 5.596,438 J
VILLAGE OF MOUNT PROSPECT 2007 BUDGET SUMMARY LONG-TERM DEBT
Series
Purpose
Maturity Date
Original Par Amount
Balance 1/01/07
01/01/07 1210 1107 1210 1107 08/01/08 1210 1108 12/01/21 1210 1122 910 1109
$ 1,094,000
2,9 15,000 1,060,000 5,550,000 2,165,000 5,000,000 12,235,000 705,000 30,724,000
$405,000 65,000 145,000 2,425,000 1,595,000 4,115,000 10,375,000 705,000 19,830,000
05/01/14 07/12/13 12/10/14 11/01/17 06/03/19
3,695,354 558,474 1,711,671 1,203,550 1,760,422 8,929,471
1,688,102 243,265 837,797 756,300 1,234,684 4,760,148
39,653,47 1
24,590,148
20,500,000 10,000,000 30,500,000
8,950,000 10,000,000 18,950,000
70,153,47 1
43,540,148
General Obligation Bonds and Notes 1987A 1998A 1998C 1999 2000 2001 2003 2004
Public Works Facility Flood Control Downtown Redevelopment Downtown Redevelopment Flood Control Village HallIParking Structure Village Hall 7 South Emerson Installment Note
Installment Contracts L L L L L
170744 170856 170857 170855 171087
Flood Flood Flood Flood Flood
Control - Prospect Manor Control - Fairview Gardens Control - Hatlen Heights Control - See Gwun/Milburn Control - Maplemerkshire
TOTAL - VILLAGE DEBT ONLY
General Obligation Bonds - Library 2002 2006
Library Expansion Library Refunding
12/01/22 12101122
TOTAL -VILLAGE AND LIBRARY DEBT As a home rule municipality the Village does not have any legal debt margin.
The Village's debt position including debt issued on behalf of the Library is at a favorable level with total debt at $774 per capita and debt to be paid fromproperty taxes at $601 per capita as of December 3 1,2006. Moody's Investors Service has rated Village debt at Aa3. In Moody's latest credit report dated December 7,2006 they stated that the Village's rating assignment reflects the village's moderate tax base growth with above-average socioeconomic indices, healthy financial position with solid liquidity position, and manageable debt burden with average principal amortization. Debt Service requirements for the next four years and all subsequent years for the outstanding and proposed debt issues are identified on the next page.
VILLAGE OF MOUNT PROSPECT LONG-TERM DEBT ANNUAL PRINCIPAL REQUIREMENTS
201 1 2007
Debt T o Be Paid From Property Taxes General Obligation Bonds Series 1987A - Public Works Facility Series 2001 - Village Hall Series 2003 - Village Hall Total Debt To Be Paid From Property Tax Increment General Obligation Bonds Series 1998C, Taxable Series 1999, Taxable 7 S. Emerson Installment Note Total
2008
2009
2010
2022
Totals
200,000
2 1O:OOO
2 15,000
225,000
3,265,000
4,115,000
480,000
495,000
5 10,000
530,000
8,360,000
10,375,000
1,085,000
705.000
725,000
755,000
11,625,000
14,895,000
405,000
145,000
Total
TOTAL VILLAGE DEBT SERVICE Debt To Be Paid By Mount Prospect Public Library General Obligation Bonds Series 2002 Library Bonds Series 2006 Library Refunding Bonds Total TOTAL DEBT SERVICE PAYMENTS
145.000 2,425,000
770,000
1,655,000 350,000
355,000
705,000
91 5,000
2,005,000
355,000
3,275,000
Debt To Be Paid From Home Rule Sales Tax (1 st Quarter Percent) General Obligation Bonds 65,000 Series 1998A 645,000 Series 2000 7 10,000 Subtotal Installment Contracts IEPA Loan # 1 IEPA Loan #2 IEPA Loan #3 IEPA Loan #4 IEPA Loan #5 Subtotal
405,000
950,000
65,000 1,595,000
950,000
1,660,000
92,925
96,074
99,329
102,695
446,774
3 1,376
32.440
33,539
34,675
11 1,235
243,265
20 1,464
208,290
2 15,347
222,644
840.357
1,688,102
59,321
6 1,048
62,825
64,654
508,452
756,300
84,647
86,884
89,179
91,536
882,438
1,234.684
469,733
484,736
500,2 19
5 16,204
2,789,256
4,760,148
1,179,733
1,434,736
500,2 19
5 16,204
2,789,256
6,420.148
3,179,733
4,144,736
1,580,219
1,271,204
14,414,256
24,590,148
700,000
730,000
850,000
890.000
5,780,000
8,950,000
55,000 755,000
45,000 775,000
45,000 895,000
45,000 935,000
9.8 10,000 15,590,000
10,000,000 18.950,OOO
3,934,733
4,919,736
2,475,219
2,206,204
30.004.256
43,540.148
837,797
VILLAGE OF MOUNT PROSPECT COST OF MUNICIPAI, SERVICES PER RESIDENT CITY OF PARK RIDGE SURVEY JANUARY 2006
~
Rank
Municipality
Bud@
t(11-
!
Expenditures 1
Adjusted
1
~~
I
I
Population
Per Capita i
1
Schaurnburg (2)
178,950,047
75,386
2,374
2
Des Plairles
12 1,183,399
56,945
2: 128
3
Glenview
82,314,935
44,042
1,869
4
Niles
55,179,681
30,063
1,835
2;
Skokie
100,329,815
63,348
1,585
6
Wiltnette
42,014,894
27,400
1,533
7
Arlington Heights
114,100,534
76,943
1,483
8
1:)owners Grove (2)
71,311,805
50,851
1,402
9
Naperville
179,336,551
l:37,98?
1,300
10
'Nortl~brook (2)
44,29 1,420
34,419
1,285
11
Park Ridge
43,344,900
37,775
1,145
12
Mount Prospect
62,670,787
56,265
1,114
13
Palatine
65,920 -...-..
1,041
--
---.---..68,633,088 .---
Source - City af Park Ridge (1 ) Adjlrsled budget includes total Municipal Butlget including MF'I', Library, Garbage and excluding Park
Disrrict, Electric Utility, Sanitary Districts, Con~nlu~iity develop men^ Block Grants, Bus Service, Flood Control Proceeds, Cemeteries and Golf' Courses.
(2) The budge1 has been increased Tor these municipalities for the amount paid by all households for scavenger service .
VILLAGE OF MOUNT PROSPECT 2007 BUDGET SUMMARY VILLAGE PROFILE
The Village of Mount Prospect was incorporated in 1917 and operates under the Boardmanager form of government. It is a home rule community as defined by the Illinois Constitution. Mount Prospect is located approximately fifteen miles northwest of the City of Chicago in Cook County with a land area of 10.3 square miles. The Village grew slowly from 1917 to 1950 with the 1950 population totaling 4,009. By 1960, the Village's population had increased to 18,905, then almost doubling to 34,995 at the 1970 Census and leveling off at 53,168 at the 1990 Census. The 2000 Census figure is 56,265. The Village's most notable characteristics are its residential streets which are shaded by more than 19,000 parkway trees, outstanding schools and parks, Randhurst Mall Shopping Center, the first under-one-roof retail complex of its lund, and the more recently developed Kensington Center for Business which consists of 300 acres of quality industrial and office buildings in a spacious park-like environment.
VILLAGE FACILITIES AND SERVICES
Number of Full-Time Employees
3 17
Number of Part-Time Employees
24
Miles of Streets & Roads Number of Permits Issued in 2005 Value of Construction in 2005 Fire Protection Number of Firefighters Number of Stations Number of Fire Hydrants I.S.O. Rating Police Protection Number of Police Officers Number of Crossing Guards Number of Police Stations Library Services Number of Libraries Number of Books Number of Registered Borrowers Municipal Water Utility Average Daily Gallons Billed Miles of Water Mains Number of Metered Accounts Elections Number of Registered Voters Number of Votes Cast in Last Municipal Election Percentage of Registered Voters Voting in Last Municipal Election
165 3,216 $52,612,965 72 3 2,200 Class 2 86 5 1 1 360,078 47,871 4,285,512 162.79 11,735 27,545 6,563 23.83%
SOCIOECONOMIC INFORMATION
Median Home Value Number of Single Family Homes
$217,700 12,382
Percent of Homes Valued: Under $50,000 $50,000 - $99,999 $100,000 - $149,999 $150,000 - $199,999 $200,000 or more Total
w / o
Median Family Income Median Household Income Per Capita Income
$67,262 $57,165 $26,464
0.4% 2.0% 7.0% 29.6%
61.0%
Employed Persons by Occupational Category
Occupational Category Management, Professional and Related Occupations Sales and Office Occupations Production, Transportation, and Material Moving Occupations Service Occupations Construction, Extraction and Maintenance Occupations Farming, Fishing and Forestry Occupations Total
Number
Percent of Total
11,661 9,281
39.4% 3 1.3%
3,834 3,083 1,740 18 29,617
12.9% 10.4% 5.9% 100.0%
Number
Percent of Total
5,254 4,440
17.8% 15.1%
3,645 3,493 2,672
12.3% 1 1.8% 9.0%
2,055 1,932 1,689 1,347 1,214 1,192 663 21 29.6 1 7
6.9% 6.5% 5.7% 4.5% 4.1 % 4.0% 2.2% 0.1%
0.1%
Employed Persons by Industry
Industry Manufacturing Educational, Health and Social Services Professional, Scientific, Management, Administrative and Waste Management Services Retail Trade Finance, Insurance, Real Estate and Rental and Leasing Arts, Entertainment, Recreation, Accommodation and Food Service Transportation and Warehousing, and Utilities Wholesale Trade Construction Other Services (Except Public Administration) Information Public Administration Agriculture, Forestry, Fishing and Hunting, and Mining
Source: 2000 Federal Census
1oo.o%
REVENUES AND OTHER SOURCES Property Taxes Other Taxes Licenses, Permits & Fees Intergovernmental Revenue Charges for Service Fines and Forfeits Investment Income Reimbursements Other Revenue Interfund Transfers Other Financing Sources Village Revenues and Other Sources
Mount Prospect Library Revenues Total Revenues and Other Sources
BUDGET EXPENDITURES Village Operating Budget Village Capital Budget Debt Service Budget Pension Systems Budget Internal Services Budget @) Total Village Expenditures
Mount Prospect Library Budget Total Expenditures (d)
CHANGES IN FUND BALANCES Excess (Deficiency) of Revenues & Other Sources Over Expenditures
2005
2006
2006
2007
2008
Actual
Budget
Estimate
Budget
Forecast
11,839,088 14,621,028 3,148,227 15,430,383 16,597,244 610,451 7,216,999 435,665 4,673,038 972,824 2,198,954 77,743,901
10,441,909 14,566,963 2,880,166 16,052,627 20,422,428 547,200 4,2 11,275 347,788 4,762,088 3 15,000 3,860,000 78,407,444
10,537,909 15,073,743 3,004,000 16,219,958 20,225,666 5 10,000 5,085,400 313,318 4,9 12,894 496,328 60,000 76,439,216
10,740,712 15,384,659 2,954,888 16,480,809 21,409,733 553,000 5,501,950 27 1,240 4,972,704
11,073,364 15,327,371 2,955,117 16,603,246 22,468,957 552,100 5,591,300 596,240 5,320,194
60,000 78,329,695
60,000 80,547,889
1 7,s 17,924 8,113,291 a) 85,26 1,825
86,520,735
84,552,507
86,901,723
80,547,889
47,687,938 4,666,948 4,540,75 1 4,743,279 6,522,689 68,161,605
49,219,982 13,044,229 3,833,577 4,95 1,821 7,807,209 78,856,818
50,371,779 7,374,859 3,818,463 4,999,339 7,436,352 74,000,792
5 1,826,996 7,366,920 4,163,928 5,137,624 8,076,630 76,572,098
53,835,690 9,616,110 4,649,553 5,254,591 8,628,65 1 81,984,595
1 7,167,072 8,113,291 a) 75,328,677
86,970,109
82,114,083
85,144,126
81,984,595
(dl 9,933,148
(449,374)
2,438,424
1,757,597
(1,436,706)
Fund Balances Start of Budget Year
97,889,740
107,822,888
107,822,888
110,261,312
1 12,018,909
End of Budget Year
107,822,888
107,373,514
1 10,261,312
112,018,909
110,582,203
Less: Pension Fund Balances ( c )
(75,375,958)
(77,484,557)
(77,899,754)
(81,025,453)
(84,506,585)
32,446,930
29,888,957
32,361,558
30,993,456
26,075,618
Available Fund Balances (a) (b) (c) (d)
Not available as of December 19, 2006. Internal Services Budget includes Vehicle Maintenance Fund and Risk Management Fund. 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 o f operation of the Mount Prospect Library for 2008 Forecast.
VILLAGE OF MOUNT PROSPECT 2007 BUDGET SUMMARY REVENUES AND OTHER SOURCES BY REVENUE TYPE
1 PROPERTY TAXES OTHER TAXES Home Rule Sales Tax Food & Beverage Tax Special Service Area Taxes Property Tax Increment Real Estate Transfer Tax Utility Taxes Municipal Motor Fuel Tax Other Taxes
LICENSES, PERMITS & FEES Vehicle Licenses Other Licenses Permit Fees Franchise Fee Other Fees
INTERGOVERNMENTAL REVENUE State Sales Tax State Income Tax State Motor Fuel Tax Other State Taxes Community Devl Block Grant Other Grants
CHARGES FOR SERVICE Water & Sewer Charges Parking Charges Refuse Disposal Charges Internal Service Fund Charges Other Service Charges
FINES AND FORFEITS INVESTMENT INCOME General Fund Pension Funds Other Funds
Actual
Budget
Estimate
Budget
Forecast
11,839,088
10,441,909
10,537,909
10,740,712
11,073,364
3,770,535 732,570 1,562,343 1,862,132 1,5 15,403 4,770,080 191,192 2 16,773 14,621,028
3,914,197 725,505 1,524,100 2,397,911 1,075,000 4,468,900 300,450 160,900 14,566,963
3,944,750 753,305 1,564,100 2,058,388 1,398,000 4,818,000 328,700 208,500 15,073,743
4,080,000 775,000 1,534,100 2,308,359 1,331,000 4,818,000 328,700 209,500 15,384,659
4,201,000 798,000 1,534,100 2,104,071 1,33 1,000 4,818,000 328,700 2 12,500 15,327,371
1,367,162 348,847 764,835 364,184 303,199 3,148,227
1,365,000 348,000 5 17,000 340,000 310,166 2,880,166
1,385,000 345,500 600,000 375,000 298,500 3,004.000
1,385,000 34 1,500 532,000 375,000 321,388 2,954,888
1,385,000 34 1,500 532,000 375,000 321,617 2,955,117
8,101,017 4,198,734 1,667,55 1 952,732 338,864 17 1,485 15,430,383
8,862,500 4,000,665 1,625,115 950,875 449,3 17 164,155 16,052,627
8,263,000 4,392,500 1,603,500 1,025,720 609,583 325,655 16,2 19,958
8,511,000 4,524,000 1,587,500 1,071,500 489,809 297,000 16,480,809
8,766,000 4,660,000 1,587,500 1,121,000 428,546 40,200 16,603,246
7,387,943 197,775 1,025,803 7,300,453 685,270 16,597,244
8,846,611 202,000 1,058,330 7,778,405 2,537,082 20,422,428
8,974,471 198,000 1,040,350 7,779,234 2,233,611 20,225,666
9,420,000 198,000 1,192,450 8,028,25 1 2,571,032 21,409,733
9,846,000 198,000 1,252,450 8,575,348 2,597,159 22,468,957
610,451
547,200
5 10,000
553,000
552,100
21 1,172 6,4 13,078 592,749 7,2 16,999
204,700 3,5 19,425 487,150 4,2 1 1,275
395,800 3,784,600 905,000 5,085,400
397,000 4,335,500 769,450 5,501,950
397,000 4,498,500 695,800 5,591,300
I
I
VILLAGE OF MOUNT PROSPECT 2007 BUDGET SUMMARY REVENUES AND OI'IIER SOURCES BY REVENUE TYPE
f+
2005 Actual REIM RCNSEMENTS
OTHER REVEN UK V~llagePolice SL Fu.e Pertslon Contr~but~ons Developer ilonattons EnlpIoyce & Ikttree (:ontnhuttons Olher Revenue
'l'O'rAIA VILI,AGE REVENUES
JNTERFUKD TRANSFERS
OTHRH FINANCING; SOURCES Bond Proceeds Sale of Property
. MOlJN'T PROSPECT 1,IBRARY REVENUES
CHANGES IN FUND BALANCES Total Rcveilues &. Other Sources 'l'i~tdl Expendit~~res hrirli:ions to <Use o P Fund Balances
ANALFSSS OF CHANGES IN :FUND BALANCES Add~tionsto Pension Fund Balances Additiofis to Other Fund Balar~ces ,:.Use of> Other Fund Balances
1 (a) (h)
Figures [lot available as of December 19, 2006. Does not i~lcludethe M o l ~ n Prospect t Library.
2006
2006
2007
Budget
Estimate
Budget
2008 Forecast
435,665
347,785
313,318
27 1,340
596,240
2,289,574 135,500 1,853,573 396,391 4,673,038
2.348,3-72 14,500 2,036.39 1 262,925 4,763,088
2.471,875
2,940,463
?,,I 66.71 9 254,600 4 1 2,894
2,677,040 14,500 2,050,064 231,100 4,972,7124
74,572,123
74,232,444
75,382,888
977,E74
3 15,000
396,328
2.198,954 2,198,954
3,800.000 60,000 3,860,000
7.51 7,924
i4,500
2,148,63 1 231,100 5,320.194
78,3-69,695
80,487,869
60,000 60,OW
00,1100 60,000
60,000 60,000
8,113.29 1
S.113,291
8,572.028
85,261,875 76.9 18,175 8,343,(;50
86,520,735 86,970,109 (449,374)
84,552,507 82.1 14,083 2.338,424
86.901,723 85,144,126 1,757,597
80,547,889 8 1,983,595 (1,336,7!)6)
5.089,746
2,164,208
2,527,796
3.125,699
(b) 3,481,132
3,253,904 8,343,650
(2,613,582) (449,374)
(85,372) 2,438.324
1 ,368,102) 1,757,597
(4,917,838j (1,436,7063
(a)
(b)
(
VILLAGE OF MOUNT PROSPECT 2007 BUDGET SUMMARY
BUDGET EXPENDITURES L
2005
2006
2006
2007
2008
Actual
Budget
Estimate
Bucfget
Forecast
VI1,LAGE OPERATING BUDGET PKIH1,IC' REPRESENTATION
114.467
1 18,893
122.49h
128,280
13 1.991
1.624,977 505,949 2.130,936
1 ,SOS,531 69 1,200 2,496,731
1,826,054 659,683 2,485,737
3,046,634 517,309 3,573,943
2.1 26,4 12 458,536 2,584,958
600.097
733:56 1
737,302
756,007
795.733
Village Manager's Office 'Television Services Division Village Clerk's Office Finance Departmat
COMMUNITY DEVELOPMENT Communrty Developrnen t Community Vevelop1ncntfCI>U(3 Totals
HUMAN SERVICES DEPAItTMEN'1'
PUBLIC SAFETY k T D PROTECTION Police Dcpatt~nent F ~ r eDcpartri~ent Totals
1 1,594,501 9,3S3,70S 10,978,209
1 1,532,925 8.7?1,426 20,255,354
1 1.494,747 8,713,383 20,208,130
12,220,226 9.085,329 21.305,555
12,756,154 !),581,668 2,337,522
PUBLIC WORKS DEPARTMENT ,4dtninistratior1 ScreetdBldgsiParking Forestry Etlgincering Water/Sewer Kcfusc Disposal 'I'otals
'1 ?083,784 2,639,s 15 '1,413,905 I,O 19,886 9,007,000 3,534,90(i 15,698,986
1,184.708 2,60S.38.3 1,553.262 1,765,962 10,223,607 3,960.243 20,902,l(iS
I , 1 90,652 2,63!),939 1,563,373 1.383,070 10.236,AOS 41011,E35 2 1,075,677
1,259,759 2,728,700 1,671,212 1,204,207 i 1,!3 1,631 4,029,607 22,115.1 16
1,262,587 2,962,704 1.772,631 1,397,651 1 1.362,492 4,195,(iOS 22,953,763
C'!.V9,1 10
1,450.36 1
1 .U5,247
1 ,(i85,359
1,280,77.3
1,427,596
1,386.54 1
1 .386,541
1,408,894
1.61 3,880
VILLAC E LN'I'ERNAI; SERVICES BUDGET Vehicle Maintenance Services Risk Management ("asuaIty anti Property Insurance M e d ~ c aInsurance l '~otals
1,305,190
1,450,029
1,153:496
1,573,353
1,673,55 1
937,227 4,280,272 6,522,689
1,325,465 5,03 1,695 7,0709
951$16! 5,113 1:G95 7,435,352
1,360,353 5,142,924 5,076,630
1,380,242 5,574,858 8,628,65 1
MOUIV?' PROSPECT I,iRRARY BUDGET
'7,165,072
8.1 13,291
8,! i3,?91
E.5?2,02S
(a) (h)
Figures not available as of Dece~nber19,200G. Does not ~ncludethe Mount Prospect I.ibl-ary for 2008 Forecast.
(4
1
VILLAGE OF MOUNT PROSPECT
I
2007 BUDGET FUND SUMMARIES
I
Explanation of Fund Summaries
Illinois Statutes and Generally Accepted Accounting Principles require a municipality to account for revenues and expenditures on a "fund" basis. A fund is a separate accounting entity which is organized with a set of self-balancing accounts and which is established to accomplish a specific purpose. Funds may be required by state statute, Village ordinance, or by the Government Accounting Standards Board (GASB). For example, Illinois Statutes require Motor Fuel Tax monies to be accounted for in the Motor Fuel Tax Fund. Village bond ordinances generally require separate bond proceeds funds and separate bond and interest funds, and the GASB has established specific h n d types and fund groups to ensure consistency of reporting by municipalities. The Village's fund structure conforms to these legal and accounting requirements. Although the Village is required to account for revenues and expenditures on a fund basis, the Village's Annual Budget is not organized along fund lines. Revenues are recorded in the appropriate fund, but expenditures are reported by program within a department or division regardless of the fund that is providing the resources. All line-items are identified by a fund code and fund totals are summarized by department or division. However, overall fund totals are not included in the expenditure portion of the budget document. This type of budget structure emphasizes the overall cost of the program rather than an expenditure from a particular source of revenue. To satisfy the legal and accounting requirements that revenues and expenditures are accounted for on a "fund" basis, budget line-item amounts are aggregated by fund and presented in the following three summaries: 1) Revenues and Other Sources By Fund; 2) Expenditures By Fund; and 3) Available Fund Balances. The first two schedules show actual amounts for 2005, budget and estimated amounts for 2006, budget amounts for 2007, and forecast amounts for 2008. The Available Fund Balances schedules add the estimated fund balances as of the start of the year with budget revenues and then subsequent budget expenditures to arrive at the estimated fund balances at the end of the year. Available Fund Balances schedules that show the estimated balances as of December 31, 2007 and December 3 1, 2008 are included. The Available Fund Balances schedules compare the expected fund balances at the end of the year with the Village's recommended or "target balances" for each fund and fund group. Target balances represent the amounts needed for sound fiscal policy and adequate cash-flow needs. Although the Available Fund Balances schedules are not a required schedule, they provide valuable information for fiscal planning purposes.
VILLAGE OF MOUNT PROSPECT 2007 BUDGET SUMMARY REVENUES AND OTHER SOURCES BY FUND
GENERAL FUND
SPECIAL REVENUE FUNDS Refuse Disposal Fund Motor Fuel Tax Fund Law Enforcement Block Grant Community Dev. Block Gmt Asset Seizure Fund DEA Shared Funds Fund DUI Fine Fund Foreign Fire Tax Board Fund
DEBT SERVICES FUNDS G.O. Bonds - Property Taxes G.O. Bonds - Tax Increment G.O. Bonds - Home Rule Sales Tax I G.O. Bonds - Home Rule Sales Tax 2 Special Service Area Bonds
CAPITAL PROJECTS FUNDS Capital Improvement Fund Downtown Redevlpmnt Const Street Improve Const Fund Flood Control Const Fund
ENTERPRISE FUNDS Water And Sewer Fund Village Parking System Fund Parking System Revenue Fund
INTERNAL SERVICE FUNDS Vehicle Maintenance Fund Vehicle Replacement Fund Computer Replacement Fund Risk Management Fund
2005
2006
2006
2007
Actual
Budget
Estimate
Budget
35,9 18,259
34,161,I 76
34,729,890
35,785,983
36,577,923
3,325,990 1,741,319 769 505,948 10,125 1,549 20,642
4,033,827 1,639,215 1,000 499,3 17 1,100 2,500 23,300
5,606,342
6,200,259
4,077,847 1,651,250 1,030 659,683 10,750 2,500 20,450 89,402 6,5 12,912
4,300,751 1,628,750 1,000 549,809 2,600 2,500 20,350 5 1,500 6,557,260
4,4 19,740 1,946,250 1,000 488,546 1,700 2,500 20,350 55,500 6,935,586
2,160,882 1,086,922 1,267,436 370,240 29,141 4,9 14,621
1,726,105 1,046,250 1,3 1 1,897
1,745,105 1,057,400 1,327,750
1,321,750 1,165,007 1,367,550
1,320,100 1,151,000 1,401,300
4,084,252
15,350 4,145,605
3,854,307
3,872,400
346,567 1,902,053 1,526,745 29,966 3,805,33 1
52,626 5,167,911 1,769,955 27,250 7,O 17,742
207,626 1,100,401 1,924,868 42,000 3,274,895
262,800 1,220,052 1,711,100 32,000 3,225,952
2,743,971
9,092,687 106,845 106.086 9,305,6 18
10,512,211 102,756 238,455 10,853,422
10,709,571 95,740 240,805 1 1,046,116
11,149,100 96,738 1 1 1,100 1 1,356,938
11,576,600 96,967 11 1,100 11,784,667
1,313,248 1,039,279 168,250 5,887,05 1 8,407,828
1,450,058 1,083,413 180,020 6,3 16,682 9,030,173
1,455,258 1 ,I 89,383 194,949 6,4 10,682 9,250,272
1,573,353 1,093,626 189,547 6,473,939 9,330,465
1,697,114 1,093,626 190,477 6,961,862 9,943,079
Forecast 2008
1,004,071 1,739,900
1
T
VILLAGE OF MOUNT PROSPECT 2007 BUDGET SUMMARY REVENUES AND OTHER SOURCES BY FUND
*
L
2005 Actual
2006 Budget
2006
Estinute
2007 Budget
2008 Forecast
w
FIUIJCIIAKY FUNDS Police Pension Fund Filr Pension Fund Series 2002 Library Bond
MOUNT PROSPECT 1,lBRARY FUND
(a)
(b)
Figures not available as of Deceniher 19, 2W6. Does not i~lcludethe Mount Prospect 1,ibrary.
4,968,994 4,813,56S 3,340 9,755,902
3,654,043 3,406,377
3,')76,05 1 3.503,475
4,125,500
4,093,290
4,361,824 4,328,439
7,060,420
?,479,52(i
8,218,790
5,690,263
7 3 17.924
S, 113,29 1
8 , ) 13.291
8.572,OLS
(2)
I
VILLAGE OF MOUNT PROSPECT 2007 BUDGET SUMMARY EXPENDITURES BY FUND
GENERAL FUND
SPECIAL REVENUE FUNDS Refuse Disposal Fund Motor Fuel Tax Fund Local Law Enforcement Block Grant Community Development Block Grant Asset Seizure Fund DEA Shared Funds Fund DUI Fine Fund Foreign Fire Tax Board Fund Totals
2005 Actual
2006 Budget
2006 Estimate
2007 Budget
2008 Forecast
33,650,878
33,445,888
34,550,926
35,371,051
36,951,284
4,029,607 1,729,610 1,000 527,309 1,000 1,000 1,000 10,000 6,300,526
4,195,608 2,179,086 1,000 458,546 1,000 1,000 1,000 10,000 6,847,240
3,534.906 1,920,890 769 505,949 30,420 26,199
3,960,243 2,538,717 1,000 69 1,200 1,100 2,500 1,000
6,O 19,133
7,195,760
4,011,835 2,138,717 1,000 659,683 1,000 5,629 1,s 00 3,130 6,822,494
DEBT SERVlCE FUNDS G.O. Bonds - Property Taxes G.O. Bonds - Tax Increment G.O. Bonds - Home Rule Sales Tax 1 Special Service Area Bonds Totals
1,979,110 1,096,145 1,427,696 37,800 4,540,75 1
1,450,361 996,675 1,386,54 1
1,435,247 996,675 1,386,54 1
1,685,359 1,069,675 1,408,894
1,280,773 1,754,900 1,613,880
3,833,577
3,818,463
4,163,928
4,649,553
CAPITAL PROJECTS FUNDS Capital Improvement Fund Downtown Redevelop Const Fund Street Improvement Const Fund Flood Control Const Fund Totals
358,122 380,048 1,301,756 186,334 2,226,260
1,658,901 6,046,726 1,597,657 527,538 9,830,822
1,417,443 1,24 1,049 1,593,657 353,053 4,605,202
738,000 1,88 1,200 2,07 1,000 244,000 4,934,200
2,440,700 1,492,400 2,187,560 700,000 6,820,660
ENTERPRISE FUNDS Water and Sewer Fund Village Parking System Revenue Fund Parking System Revenue Fund Totals
9,007,000 210,324 159,502 9,376,826
10,229,607 152,798 260,865 10,643,270
10,236,608 153,313 261,324 10,65 1,245
11,131,631 123,154 156,448 11,41 1,233
11,362,492 203,332 145,610 11,711,434
INTERNAL SERVICE FUNDS Vehicle Maintenance Fund Vehicle Replacement Fund Computer Replacement Risk Management Fund Totals
1,305,190 935,933 183,846 5,229,972 7,654,94 1
1,450,029 1,030,680 162,800 6,367,780 9,011,289
1,453,496 986,980 162,800 5,993,456 8,596,732
1,573,353 96 1,470 249,050 6,514,196 9,298,069
1,673,55 1 1,O 14,200 141,200 6,966,342 9,795,293
VILLAGE OF MOUNT PROSPECT 2007 BUDGET SUMMARY EXPENDITURES BY FUND 2005 Actual
2006 Budget
FIDUCIARY FUNDS Pol~cePenston Fund F ~ r eP c ~ l s ~ o Fund r~ Totals
2,30508 2,387.308 4,692.816
2.3?5,461 2,520,?5 1 4,896,2 12
4 3 . 3 1,51S.497 4,955,730
2.465,133 2.627,95S 5.093,Oc)l
MOUNT PROSPECII' LIBRARY BUDGET
7,167,072
8,113,291
$,I 13,291
8,572.028
2006 Estimate
2007 Budget
2008 korecast
"
1
(a)
(6)
Figures not ova.ilal,le as of 1)ecerrlber 19,2006. Does not include the Moutit Prospect Library for 2008 F,'orecast.
12
2,523,753 2,685..3?8 5,209.13 1
(a)
VlLLAGE OF MOUNT PROSPECT 2007 BUDGET SUMMAKY AVAILABLE FUND B AL,ANCES 12-31-2007 L
R e f u . ~Disposal Fund Motor Fuel Tax Fund I..oca! I.aw Enf. Block Grant €lonmiinity Development Block Grnt Asset Seizure Fimd IIEA Shared Funds Fund DCl Fine Fund Foreign Fire Tax Board Fund
DEB'L'SERVICISSPirFins G.0. Bonds - Property Taxes G.O. k3onds - Tau Increment €; 0. Bonds - Home Rule Sales Tax I Special Swvice Area Bonds TOTAL
Doivntown Rcdevclop Const Fund Street Improvement Const Fund Flood Control Const Fund
ENTERPRISE FUNDS Water md Sewer Funti (a) Village Parking System Fund (st) Pxkirig System Revenue Fund (a) 'T'O?'A L.
(a)
1,752,796 377,528
4,300;75 1 1,625,750
4,029,607 I .729,6l(i
502,682 580,956 (473,142) 17.415
1,321,750 1,165,007 1,367,550
1.685,359 1.069,675 1.408,8'94
869,SO 1
3,220,052
1,581.200
4,082,840 162,013 17,767 4,262,610
1 I ,140,iOO 96,738 1 1 1,100 1 1,356,938
11,131,631 123,154 156,448 11,411.233
Estimated balances reflect cash and investrncr~tbalance, not fund equity.
2,023,910
139,073 676,2X8 (5 14,486) 1 ?.435
1
4,100,309 $ 135,597g (17,581) $ 4,208,125 .4
$
VILLAGE OF MOUNT PROSPECT 2007 BUDGET SUMMARY AVAIIAARI-E FUFD BALANCES 12-31-2007
Estimated Balance
Vehicle Maintenance Fund Vehicle Replac.ement Fund Computer Replacerne~ltFund Risk Managentent Fund
(I>) (c)
526,187 5,630,017
2007
Budgct
1,573,353 1,093,626
2007 Budget
961,470
Estimated Balance
3,762.17
Estirtuted balances for lnternal Service Funds reflect utlrestrictcd net asscts ordy. Pension Funtls are restricted for filttlre pension benefits and do not cut~stitute",4vailahle Fund Salanczs.'"
VILLAGE OF MOUNT PROSPECT
I
2007 BUDGET SUMMARY AVAILABLE FUND BALANCES 12-31-2008
GENERAL FUND
Motor Fuel Tax Fund Local Law Enf, Biock Grant Comnlunity Developnlcn~Block Cirnt Asset Seizure Fund DEA Shared Funds Fund
G.O. Bonds - Tax Increment G.O. Bonds - Home Rule Sales'hx I Special Selvicc Area Bonds
Capital Irnprovcn~entFund Downtown Rdevelop Const Fund Strr-et lmpmvernent Canst Fund Flood Control Const Fund
(a)
11,110,273
36,577.923
36.451.384
10,736,912
2,023,940 276,668
4,419,940 1,946,250
4,195,608 2,179,086
2,248,072
1 ,I 51,OUO 1,401,300
1,613,880
676,288 )
2,440,700 559,016
3,739,900
2,187,560
Estimated halances rellect cash and investn~eritbalance, not fund equity.
(2,368,731)
VILLAGE OF MOU-NTPROSPECT 2007 BUDGET SUMMARY AVAILABLE FUND BALANCES 12-31-2008 4
INTELYAL SERVICE FUNDS (b) Vehicle Maintmancc Fund Vehicle Replacement Fund
526,187 5,752,173
1,697,114 1,093,626
1,014,200
1,361,824
2,527,753
5,811.59
Computer Replacenlent Fund Risk Manage~nentFund
30.5 10,721
42,348,792
Fire Pension Ftmd
ib) jc) (d)
(e)
Estin1atc.dbalances for-Ir~terrulService Fimds re:flect unrestricted net assets only. Pension Funds are restricted for htme pe~lsiorlt x ~ ~ e f iand t s do not constitute "Available Fund Balances." Not available as of December 19.2006. 1:)oes not include -Mount Prospect Library escept for Estirnal-ed Balwce 1-1-08,.
VILLAGE OF MOUNT PROSPECT 2007 BUDGET SUPPLEMENTAL INFORMATION
Supplemental Schedules and Graphics
The following schedules and graphics present historical and current information regarding Personal Services, Property Taxes, Long-Term Debt, the Cost of Providing Municipal Services, and a Profile of the Village of Mount Prospect. Following is an introduction to each presentation: Real Estate Taxes - There are four graphics and schedules included which contain information on Real Estate Taxes. The first graphic, Village Property Tax Levies and Tax Rates, shows Village tax levies and tax rates from 1998 - 2007. The schedule also lists equalized assessed valuation and the annual percentage change in the tax levies for the same period. The next schedule, Real Estate Tax Levies and Rate Comparisons, shows Village and Library Tax Rates and Tax Levies by purpose for 2005, 2006, and 2007. The next schedule shows the same information for the two Village Special Service Areas. The last graphic, Where Property Taxes Go, shows how property taxes are distributed to the various taxing bodies and the actual distribution of the 2005 property tax rate. Number of Authorized Positions - This schedule shows the number of fill-time, part-time, seasonal and full-time equivalent positions for 2005,2006, and 2007. Personal Services - The payment of wages and other compensation represent 47% of the operating budget. This schedule shows 2005 actual, 2006 budget and estimated amounts, budget amounts for 2007 and forecast amounts for 2008. The schedule organizes the personal service amounts by the type of Village Service provided. Long-Term Debt - One graphic and two schedules are included. The graphic shows the relative speed of how outstanding debt issues will be paid. The first schedule shows the maturity dates, the original amounts issued and outstanding balances of current and proposed bond issues. The second schedule shows the Annual Principal Requirements for 2007 through 2010 and the balance of payments due from 201 1 through 2022. This schedule classifies the various bond issues by the sources of revenue that will be used to fund the debt service payments. Cost of Municipal Services - Park Ridge Survey - This graph compares the Cost of Municipal Services Per Resident in Mount Prospect to the Average Cost Per Resident of all communities in the survey for the last ten years. Mount Prospect has consistently ranked near the bottom for this category. For the most recent survey, Mount Prospect was second lowest out of thirteen communities. Village Profile - This schedule presents information about the Village of Mount Prospect and its facilities and services.
These schedules and graphics are included to help gain a better understanding of some of the trends and influences that affect the Village's current and future fiscal plans.
VILLAGE OF MOUNT PROSPECT 2007 BUDGET SUMMARY Real Estate and Special Service Area Tax Levies and Tax Rate Comparisons (1)
2006 Tax Levy Actual
2005 Tax Levy Actual Rate
Rate (2)
Amount
Rate (2)
Amount
2007 Tax Levy Projected Amount C
Village Levies General Corporate Garbage G.O.Bonds Police Pension Fire Pension
$
Village Totals
Library Levies Operations Debt Service Library Totals
Special Service Area No. 5 JAWA Water Agency
$
.4572 -1221 .0914 -0805 .0749
$
7,291,530 $ .4765 1,947,965 .I276 .0840 1,457,567 .0865 1,284,363 1,194,264 .0845
$
7,491316 2,006,404 1,320,654 1,359,949 1,328,051
$
.4464 .I187 .0759 .0859 .0839
$
$
-8108
$14,117,416
$ -8261
$13,175,689 $ 3591
$13,506,574
$ .3642
.lo09
$5,809,344 $ .3900 .lo19 1,608,821
$6,132,588 1,601,477
$ .4651
$7,418,165 $ .4919
$7,734,065
.I168
$1,545,773
$
.I185
$1,545,773
(1) Tax rates per $100 Equalized Assessed Valuation. (2) Tax rates are estimated. (3) Changes in Equalized Assessed Valuation are based on 10 year historical trends. (4)
Not available as of the date of this report.
7,772,448 2,066,597 1,321,572 1,495,943 1,460,856
(4) (4)
$
.lo70
$1,545,773
VILLAGE OF MOUNT PROSPECT
I
I
Part-Time Employees
Full-Time Employees
Public Representation
Totals
I Full-Time Equivalent
Seasonal Employees 2005
2006
2007
2005
2006
2007
.85
.85
.85
-
-
10.35 2.80 2.00 15.00
10.35 3.10 2.00 15.00
11.35 3.10 2.00 15.00
3.00
3.00
30.15
30.45
31.45
2.00 1 .OO
2.00 1.00
2.00 1.00
20.90 1.20
20.90 1.20
22.90 1.20
1.00
3.00
3.00
3.00
22.10
22.10
24.10
1.00
1.00
2.00
2.00
7.60
7.60
7.60
2.00
2.00
-
2.00 1.00
5.00 21.00
5.00 22.00
5.00 21.00
105.50 80.70
110.50 83.90
11 1.50 84.20
192.50
2.00
2.00
3.00
26.00
27.00
26.00
186.20
194.40
195.20
3.00 13.10 9.20 7.10 23.40 2.60 8.00
3.00 13.10 9.20 7.10 23.40 2.60 8.00
0.70 1.00
0.70 1.00
0.70 1.00
1.00 2.70 0.60 1.00
1.00 2.70 0.60 1.00
1.00 2.70 0.60 1.00
5.00 8.00 2.00 5.00
5.00 8.00 4.00 4.00
6.00 8.00 4.00 7.00
3.00
2.00
2.00
3.35 14.60 10.80 7.90 25.75 2.90 9.10
3.35 14.60 10.80 8.30 25.55 2.90 8.90
3.35 14.80 10.80 8.30 26.15 2.90 8.90
66.40
66.40
66.40
7.00
7.00
7.00
23.00
23.00
27.00
74.40
74.40
75.20
0.10
0.10
0.10
1.00
1.00
1.00
-
0.20
0.20
0.20
365.00
313.00
317.00
24.00
24.00
61.00
321.50
329.80
334.60
2005
2006
2007
2005
2006
2007
0.15
0.15
0.15
7.00
7.00
7.00
9.85 2.00 2.00 13.00
9.85 2.00 2.00 13.00
10.85 2.00 2.00 13.00
1.00
1.00
1.00
4.00
4.00
4.00
26.85
26.85
27.85
5.00
5.00
5.00
2.00
20.00 1.00
19.95 1.05
22.00 1.OO
1.00
1.00
1.00
-
21.00
21.00
23.00
1.00
1.00
7.00
7.00
7.00
1.00
103.50 80.00
108.50 83.00
109.50 83.00
183.50
191.50
3.00 13.10 9.20 7.10 23.40 2.60 8.00
Village Administration Village Manager's Office Television Services Division Village Clerk's Ofice Finance Department
I
2007 BUDGET SUMMARY Number of Authorized Positions
-
1.00 1.00
1.00 2.00
1.00 2.00
Community Development Community Development Community DevelopICDBG Totals
Human Services Department
2.00
Public Safety and Protection Police Department Fire Department Totals
Public Works Department Administration StreetslBldgs/Parking Forestry Engineering WaterlSewer Refuse Disposal Vehicle Maintenance Totals
Community and Civic Svcs
Village Totals
-
3.00 56.00
57.00
VILLAGE OF MOUNT PROSPECT 2007 BUDGET SUMMARY PERSONAL SERVICES h.
7
2005 Actual PUBLIC REPRXSENl'A'rION
2006 Budget
2006 Estimate
2007 Budget 35.466
2008 Forecast
34,713
35,077
35,077
35,860
734.43 1 94.8 19 97,778 724.483 l,(i51.511
796,864 98,168 107,135 760,021 1,762,188
800,564 Y9,595 1' 10.464 76 1,304 1,772,527
898,539 101,484 1 13,075 796,825 1.9 10.923
915,650 106,127 1 17.250 S26.819 1,965.846
1,057,166 34,435 l,l01,60I
1.135,033 47,545 l,lS2,578
1,136,383 48,745 1,) 85.128
1,255,645 52,004 1,307,649
1,302.797 53.955 1,356.752
444,846
466,733
4?7,b29
478,186
496.280
, VILLAGE ADMINISI'RATION Village Manager's Office Television Services Dirlsion Village Clerk's Office Finance Tkpartnwxt Totals
COMMLriYITY DEVELOPMENT Community Drt-rl(qmtent Community Dr.trl(vmentlCT)HG Totals
1
HUMAN SERVICES DEPARTMENT
1 PUBLIC WORKS DBPAR'r:MENT Administration Strerts!BldgsTarkii~g Forestry Engineering Waterisewer Refuse T)lsposal Vzhicfe Maintenance 1 otals P.
228,939 237.71 1 1,161,275 1,092.0?6 '705,207 679.609 54 1 ,?&I 586.406 1,716,145 I ,75 1.203 226,024 212.298 63 1,777 68 1.4tiO 5,21 1,131 5,240.762
239,489 1,080,448 (>86.,958 b(Hi,934 1.736,l 1 1 2 14,282 683,001 5,241,723
237,193 i,108,580 697, i 62 622.1 16 1,783.337 230,544 695.54 1 5,374,573
245,748 I , 149,480 722,952 656,173 1,839,926 238,649 743,s 10 5.596,438 J
VILLAGE OF MOUNT PROSPECT 2007 BUDGET SUMMARY LONG-TERM DEBT
Series
Purpose
Maturity Date
Original Par Amount
Balance 1/01/07
01/01/07 1210 1107 1210 1107 08/01/08 1210 1108 12/01/21 1210 1122 910 1109
$ 1,094,000
2,9 15,000 1,060,000 5,550,000 2,165,000 5,000,000 12,235,000 705,000 30,724,000
$405,000 65,000 145,000 2,425,000 1,595,000 4,115,000 10,375,000 705,000 19,830,000
05/01/14 07/12/13 12/10/14 11/01/17 06/03/19
3,695,354 558,474 1,711,671 1,203,550 1,760,422 8,929,471
1,688,102 243,265 837,797 756,300 1,234,684 4,760,148
39,653,47 1
24,590,148
20,500,000 10,000,000 30,500,000
8,950,000 10,000,000 18,950,000
70,153,47 1
43,540,148
General Obligation Bonds and Notes 1987A 1998A 1998C 1999 2000 2001 2003 2004
Public Works Facility Flood Control Downtown Redevelopment Downtown Redevelopment Flood Control Village HallIParking Structure Village Hall 7 South Emerson Installment Note
Installment Contracts L L L L L
170744 170856 170857 170855 171087
Flood Flood Flood Flood Flood
Control - Prospect Manor Control - Fairview Gardens Control - Hatlen Heights Control - See Gwun/Milburn Control - Maplemerkshire
TOTAL - VILLAGE DEBT ONLY
General Obligation Bonds - Library 2002 2006
Library Expansion Library Refunding
12/01/22 12101122
TOTAL -VILLAGE AND LIBRARY DEBT As a home rule municipality the Village does not have any legal debt margin.
The Village's debt position including debt issued on behalf of the Library is at a favorable level with total debt at $774 per capita and debt to be paid fromproperty taxes at $601 per capita as of December 3 1,2006. Moody's Investors Service has rated Village debt at Aa3. In Moody's latest credit report dated December 7,2006 they stated that the Village's rating assignment reflects the village's moderate tax base growth with above-average socioeconomic indices, healthy financial position with solid liquidity position, and manageable debt burden with average principal amortization. Debt Service requirements for the next four years and all subsequent years for the outstanding and proposed debt issues are identified on the next page.
VILLAGE OF MOUNT PROSPECT LONG-TERM DEBT ANNUAL PRINCIPAL REQUIREMENTS
201 1 2007
Debt T o Be Paid From Property Taxes General Obligation Bonds Series 1987A - Public Works Facility Series 2001 - Village Hall Series 2003 - Village Hall Total Debt To Be Paid From Property Tax Increment General Obligation Bonds Series 1998C, Taxable Series 1999, Taxable 7 S. Emerson Installment Note Total
2008
2009
2010
2022
Totals
200,000
2 1O:OOO
2 15,000
225,000
3,265,000
4,115,000
480,000
495,000
5 10,000
530,000
8,360,000
10,375,000
1,085,000
705.000
725,000
755,000
11,625,000
14,895,000
405,000
145,000
Total
TOTAL VILLAGE DEBT SERVICE Debt To Be Paid By Mount Prospect Public Library General Obligation Bonds Series 2002 Library Bonds Series 2006 Library Refunding Bonds Total TOTAL DEBT SERVICE PAYMENTS
145.000 2,425,000
770,000
1,655,000 350,000
355,000
705,000
91 5,000
2,005,000
355,000
3,275,000
Debt To Be Paid From Home Rule Sales Tax (1 st Quarter Percent) General Obligation Bonds 65,000 Series 1998A 645,000 Series 2000 7 10,000 Subtotal Installment Contracts IEPA Loan # 1 IEPA Loan #2 IEPA Loan #3 IEPA Loan #4 IEPA Loan #5 Subtotal
405,000
950,000
65,000 1,595,000
950,000
1,660,000
92,925
96,074
99,329
102,695
446,774
3 1,376
32.440
33,539
34,675
11 1,235
243,265
20 1,464
208,290
2 15,347
222,644
840.357
1,688,102
59,321
6 1,048
62,825
64,654
508,452
756,300
84,647
86,884
89,179
91,536
882,438
1,234.684
469,733
484,736
500,2 19
5 16,204
2,789,256
4,760,148
1,179,733
1,434,736
500,2 19
5 16,204
2,789,256
6,420.148
3,179,733
4,144,736
1,580,219
1,271,204
14,414,256
24,590,148
700,000
730,000
850,000
890.000
5,780,000
8,950,000
55,000 755,000
45,000 775,000
45,000 895,000
45,000 935,000
9.8 10,000 15,590,000
10,000,000 18.950,OOO
3,934,733
4,919,736
2,475,219
2,206,204
30.004.256
43,540.148
837,797
VILLAGE OF MOUNT PROSPECT COST OF MUNICIPAI, SERVICES PER RESIDENT CITY OF PARK RIDGE SURVEY JANUARY 2006
~
Rank
Municipality
Bud@
t(11-
!
Expenditures 1
Adjusted
1
~~
I
I
Population
Per Capita i
1
Schaurnburg (2)
178,950,047
75,386
2,374
2
Des Plairles
12 1,183,399
56,945
2: 128
3
Glenview
82,314,935
44,042
1,869
4
Niles
55,179,681
30,063
1,835
2;
Skokie
100,329,815
63,348
1,585
6
Wiltnette
42,014,894
27,400
1,533
7
Arlington Heights
114,100,534
76,943
1,483
8
1:)owners Grove (2)
71,311,805
50,851
1,402
9
Naperville
179,336,551
l:37,98?
1,300
10
'Nortl~brook (2)
44,29 1,420
34,419
1,285
11
Park Ridge
43,344,900
37,775
1,145
12
Mount Prospect
62,670,787
56,265
1,114
13
Palatine
65,920 -...-..
1,041
--
---.---..68,633,088 .---
Source - City af Park Ridge (1 ) Adjlrsled budget includes total Municipal Butlget including MF'I', Library, Garbage and excluding Park
Disrrict, Electric Utility, Sanitary Districts, Con~nlu~iity develop men^ Block Grants, Bus Service, Flood Control Proceeds, Cemeteries and Golf' Courses.
(2) The budge1 has been increased Tor these municipalities for the amount paid by all households for scavenger service .
VILLAGE OF MOUNT PROSPECT 2007 BUDGET SUMMARY VILLAGE PROFILE
The Village of Mount Prospect was incorporated in 1917 and operates under the Boardmanager form of government. It is a home rule community as defined by the Illinois Constitution. Mount Prospect is located approximately fifteen miles northwest of the City of Chicago in Cook County with a land area of 10.3 square miles. The Village grew slowly from 1917 to 1950 with the 1950 population totaling 4,009. By 1960, the Village's population had increased to 18,905, then almost doubling to 34,995 at the 1970 Census and leveling off at 53,168 at the 1990 Census. The 2000 Census figure is 56,265. The Village's most notable characteristics are its residential streets which are shaded by more than 19,000 parkway trees, outstanding schools and parks, Randhurst Mall Shopping Center, the first under-one-roof retail complex of its lund, and the more recently developed Kensington Center for Business which consists of 300 acres of quality industrial and office buildings in a spacious park-like environment.
VILLAGE FACILITIES AND SERVICES
Number of Full-Time Employees
3 17
Number of Part-Time Employees
24
Miles of Streets & Roads Number of Permits Issued in 2005 Value of Construction in 2005 Fire Protection Number of Firefighters Number of Stations Number of Fire Hydrants I.S.O. Rating Police Protection Number of Police Officers Number of Crossing Guards Number of Police Stations Library Services Number of Libraries Number of Books Number of Registered Borrowers Municipal Water Utility Average Daily Gallons Billed Miles of Water Mains Number of Metered Accounts Elections Number of Registered Voters Number of Votes Cast in Last Municipal Election Percentage of Registered Voters Voting in Last Municipal Election
165 3,216 $52,612,965 72 3 2,200 Class 2 86 5 1 1 360,078 47,871 4,285,512 162.79 11,735 27,545 6,563 23.83%
SOCIOECONOMIC INFORMATION
Median Home Value Number of Single Family Homes
$217,700 12,382
Percent of Homes Valued: Under $50,000 $50,000 - $99,999 $100,000 - $149,999 $150,000 - $199,999 $200,000 or more Total
w / o
Median Family Income Median Household Income Per Capita Income
$67,262 $57,165 $26,464
0.4% 2.0% 7.0% 29.6%
61.0%
Employed Persons by Occupational Category
Occupational Category Management, Professional and Related Occupations Sales and Office Occupations Production, Transportation, and Material Moving Occupations Service Occupations Construction, Extraction and Maintenance Occupations Farming, Fishing and Forestry Occupations Total
Number
Percent of Total
11,661 9,281
39.4% 3 1.3%
3,834 3,083 1,740 18 29,617
12.9% 10.4% 5.9% 100.0%
Number
Percent of Total
5,254 4,440
17.8% 15.1%
3,645 3,493 2,672
12.3% 1 1.8% 9.0%
2,055 1,932 1,689 1,347 1,214 1,192 663 21 29.6 1 7
6.9% 6.5% 5.7% 4.5% 4.1 % 4.0% 2.2% 0.1%
0.1%
Employed Persons by Industry
Industry Manufacturing Educational, Health and Social Services Professional, Scientific, Management, Administrative and Waste Management Services Retail Trade Finance, Insurance, Real Estate and Rental and Leasing Arts, Entertainment, Recreation, Accommodation and Food Service Transportation and Warehousing, and Utilities Wholesale Trade Construction Other Services (Except Public Administration) Information Public Administration Agriculture, Forestry, Fishing and Hunting, and Mining
Source: 2000 Federal Census
1oo.o%
