Loading...
HomeMy WebLinkAboutT19-06 (2) 'r Ordinance No. T19-06 AN ORDINANCE AMENDING THE 2005 BUDGET BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ELGIN,ILLINOIS: Section 1. That the 2005 budget of the City of Elgin adopted in lieu of an appropriation ordinance be and is hereby amended in accordance with the schedule which is attached hereto and made a part hereof by reference. Section 2. That this ordinance shall be in full force and effect from and after its passage. s/Ed Schock Ed Schock, Mayor Presented: May 10, 2006 Passed: May 10, 2006 Omnibus Vote: Yeas: 7 Nays: 0 Recorded: May 11, 2006 Published: Attest: s/Dolonna Mecum Dolonna Mecum, City Clerk CITY OF ELGIN,IL 2005 BUDGET AMENDMENTS Period Ended(12/31/05) Adjusted Unaudited Revenue Amended 2005 Year-End Under(Over) % 2005 Fund Budget Revenues Budget Received Budget General Fund Revenue Unencumbered Cash $808,064 $543,468 ($264,596) 67.26% $543,468 Property Tax(including Pensions) 27,110,000 26,606,442 (503,558) 98.14% 26,606,442 Other Taxes 473,000 448,449 (24,551) 94.81% 448,449 Telecommunications(Local&State) 3,400,000 3,244,060 (155,940) 95.41% 3,244,060 Sales Tax 16,589,800 17,095,953 506,153 103.05% 17,095,953 Licenses 297,850 288,918 (8,932) 97.00% 288,918 Permits 1,058,267 2,406,595 1,348,328 227.41% 2,406,595 Fines 1,228,200 1,006,356 (221,844) 81.94% 1,006,356 Intergovernmental(Income Tax) 7,151,500 8,813,239 1,661,739 123.24% 8,813,239 Charges for Services 2,631,370 3,650,949 1,019,579 138.75% 3,650,949 Sale of Commodities 85,600 472,779 387,179 552.31% 472,779 Miscellenous Revenue(Franchise Fees; 958,036 902,876 (55,160) 94.24% 902,876 Other Revenue(Investments) 274,560 737,668 463,108 268.67% 737,668 Interfund Transfers* 10,780,200 9,904,994 (875,206) 91.88% 9,904,994 TOTAL $72,846,447 $76,122,746 $3,276,299 104.50% $76,122,746 • Proposed Amount Amended Final Under(Over) Fund Budget Adjustment Budget General Fund Expenditures TOTAL $71,075,753 $72,046,051 ($970,298) Amended Revenues $76,122,746 Amended Expenditures $72,046,501 Amended 2005 Positve(Negative)Year-End Position $4,076,245 • CITY OF ELGIN,IL 2005 BUDGET AMENDMENTS Period Ended(12/31/05) Adjusted Division Year-End Unaudited Amount Amended 2005 as eh, Revenues Year-End Under(Over) % 2005 Fund Budget of Budget as a%of Budget* Expenditures Budget Expended Budget General Fund(010) Boards/Commissions $253,500 0.36% $271,501 $168,335 $103,166 66.40% $168,335 City Clerk 215,100 0.30% $230,374 217,936 $12,438 101.32% $217,936 Fire 13,454,095 18.93% $14,409,452 15,007,103 ($597,651) 111.54% $15,007,103 Emergency Operations 83,030 0.12% $88,926 60,977 $27,949 73.44% $60,977 Human Resources 674,370 1.00% $761,227 725,696 $35,531 107.61% $725,696 Legal 805,250 1.13% $862,430 738,887 $123,543 91.76% $738,887 Mayor and Council 215,410 0.30% $230,706 155,443 $75,263 72.16% $155,443 Office of the City Manager 1,398,940 1.97% $1,498,277 1,357,059 $141,218 97.01% $1,357,059 Police 24,903,177 35.04% $26,671,518 26,142,109 $529,409 104.97% $26,142,109 City Sponsored Events 100,000 0.14% $107,101 40,151 $66,950 40.15% $40,151 Non-Departmental 4,968,050 6.94% $5,282,919 5,215,214 $67,705 104.98% $5,215,214 Community Development Economic Development 322,070 0.45% $344,940 300,865 $44,075 93.42% $300,865 Code Admin.and Development 3,369,508 4.74% $3,608,772 3,024,452 $584,320 89.76% $3,024,452 Planning and Neighborhood Services 1,013,030 1.43% $1,084,964 866,873 $218,091 85.57% $866,873 Fiscal Services Finance 1,816,818 2.56% $1,945,828 1,619,942 $325,886 89.16% $1,619,942 Management Information Systems 890,959 1.25% $954,225 864,460 $89,765 97.03% $864,460 Purchasing 456,692 0.64% $489,121 406,171 $82,950 88.94% $406,171 General Services General Services Administration 194,520 0.27% $208,333 7,793 $200,540 4.01% $7,793 III Building Maintenance 1,653,842 2.33% $1,771,279 $15,301,920 1,645,994 $125,285 99.53% $1,645,994 Public Works 14,287,392 20.10% 13,481,041 $1,820,879 94.36% $13,481,041 TOTAL $71,075,753 100.00% $76,122,746 $72,046,501 $4,077,310 101.37% $72,046,501 *In contrast with other,fund types,General Fund Revenues are not associated with any specific department. However,for the purposes of comparison with other funds and to show the relationship between year-end revenues and expenditures General Fund Revenues have been distributed as%of total 2005 Budget. 411, IF CITY OF ELGIN,IL 2005 BUDGET AMENDMENTS Period Ended(12/31/05) Adjusted Unaudited Unaudited Amount Amended 2005 Year-End Year-End Under(Over) % 2005 Fund Budget Revenues Expenditures Budget Expended Budget Special Revenue Funds 201 Public Benefit $492,910 $15,954 $0 $15,954 0.00% $0 220 E911 Telephone System 1,415,610 721,350 1,116,978 ($395,628) 78.90% 1,116,978 230 Community Development Block Grant 2,612,490 974,325 973,094 $1,231 37.25% 973,094 240 Spring Street Parking District 104,500 68,321 60,000 $8,321 57.42% 60,000 250 Drug Asset Forfeiture 59,959 141,127 79,538 $61,589 132.65% 79,538 251 Auto Theft Task Force 405,440 435,614 382,904 $52,710 94.44% 382,904 252 Bureau of Justice Grant 66,527 68,440 50,173 $18,267 75.42% 50,173 260 S.Grove Tax Allocation 1,633,423 1,146,110 88,563 $1,057,547 5.42% 88,563 261 Dundee Tax Allocation 294,550 303,527 214,950 $88,577 72.98% 214,950 262 Center City Tax Allocation 3,795,632 2,383,421 7,950 $2,375,471 0.21% 7,950 263 Route 20 Tax Allocation 25,000 29,488 0 $29,488 0.00% 0 270 Fox Bluff Corporate Center 5,400,010 97,122 1,560 $95,562 0.03% 1,560 275 Elgin Riverboat 49,670,712 28,071,007 29,873,343 ($1,802,336) 60.14% 29,873,343 276 Elgin Riverboat Lease 14,050,033 3,917,231 5,542,003 ($1,624,772) 39.44% 5,542,003 280 Illinois Municipal Retirement 6,957,770 6,886,075 6,443,942. $442,133 92.62% 6,443,942 290 Motor Fuel Tax 4,295,918 2,953,372 2,963,545 ($10,173) 68.99% 2,963,545 294 Cemetery Operating Fund 532,070 459,702 362,953 $96,749 68.22% 362,953 296 Elgin Recreation 8,910,491 8,478,386 8,186,614 $291,772 91.88% 8,186,614 TOTAL $100,723,045 $57,134,618 $56,348,110 $44,374,935 55.94% $56,348,110 Debt Service III 301 Corporate Bond Fund $9,442,900 $7,383,391 $7,155,337 $228,054 68.99% $7,155,337 TOTAL $9,442,900 $7,383,391 $7,155,337 $228,054 68.99% $7,155,337 Capital Improvement Funds 1 340 Park Development Fund $2,960,637 $1,490,277 $280,117 $1,210,160 75.77% $280,117 350 Downtown Redevelopment 79,700 4,580 76,084 ($71,504) 95.46% 76,084 365 2005A G.O.Bond Projects 12,974,750 175,802 99,381 $76,421 0.77% 99,381 378 Tyler Creek 781,824 26,785 0 $26,785 0.00% 0 380 2000 G.O.Bond Projects • 1,906,453 36,594 87,533 ($50,939) 4.59% 87,533 381 2001 G.O.Bond Projects 1,178,672 32,597 0 $32,597 0.00% 0 382 2002 G.O.Bond Projects 220,236 6,446 2,293 $4,153 1.04% 2,293 383 2003 G.O.Bond Projects 1,484,979 39,691 I $39,690 0.00% 1 384 2004 G.O.Bond Projects 8,621,418 179,561 5,500,001 ($5,320,440) 63.79% 5,500,001 385 Capital Improvement Fund 44,014 1,407 6,406 ($4,999) 14.55% 6,406 395 1995 G.O.Bond Projects 13,730 0 0 $0 0.00% 0 396 1996 G.O.Bond Projects 841,740 15,970 451,219 ($435,249) 53.61% 451,219 399 1999 G.O.Bond Projects 687,015 12,167 180,400 ($168,233) 26.26% 180,400 TOTAL $31,795,168 $2,021,877 $6,683,435 ($4,661,558) 21.02% $6,683,435 0 CITY OF ELGIN,IL 2005 BUDGET AMENDMENTS Period Ended(12/31/05) Adjusted Unaudited Unaudited Amount Amended 2005 Year-End Year-End Under(Over) % 2005 Fund Budget Revenues Expenditures* Budget Expended Budget Enterprise Funds 401 Water Operating $18,628,670 $24,246,861 $14,087,751 $10,159,110 75.62% $14,087,751 420 Water Development 2,740,247 3,084,098 550,617 $2,533,481 20.09% 550,617 430 Sewer Operating 5,313,327 8,045,366 2,591,054 $5,454,312 48.77% 2,591,054 440 Sewer Development 2,844,049 2,550,615 0 $2,550,615 0.00% 0 540 Golf Operating 1,747,731 1,735,114 1,684,614 $50,500 96.39% 1,684,614 TOTAL $31,274,024 $39,662,054 $18,914,036 $20,748,018 60.48% $18,914,036 Internal Service Funds 601 Equipment Replacement $2,845,900 $3,904,346 $1,974,619 $1,929,727 69.38% $1,974,619 630 Liability Insurance 4,663,788 2,741,445 4,759,815 ($2,018,370) 102.06% 4,759,815 635 Medical Insurance 8,930,120 8,666,204 7,063,895 $1,602,309 79.10% 7,063,895 TOTAL $16,439,808 $15,311,995 $13,798,329 $1,513,666 83.93% $13,798,329 Trust and Agency Funds 520 Cemetery Perpetual Care $66,000 $73,532 $54,472 $19,060 82.53% $54,472 701 Police Pension 3,777,000 6,010,717 3,712,942 $2,297,775 98.30% 3,712,942 711 Fire Pension 3,635,000 4,888,515 3,082,777 $1,805,738 84.81% 3,082,777 TOTAL $7,478,000 $10,972,764 $6,850,191 $4,122,573 91.60% $6,850,191 • TOTAL GROSS EXPENDITURES SUMMARY Amount Under(Over) Fund Type Revenue Expenditures Budget General Fund $76,122,746 $72,046,501 $4,076,245 Special Revenue Funds 57,134,618 56,348,110 $786,508 Debt Service Fund 7,383,391 7,155,337 $228,054 Capital Improvement Funds 2,021,877 6,683,435 ($4,661,558) Enterprise Funds 39,662,054 18,914,036 $20,748,018 Internal Service Funds 15,311,995 13,798,329 $1,513,666 Trust and Agency Funds 10,972,764 6,850,191 $4,122,573 $208,609,445 $181,795,939 $26,813,506 *Vehicle Depreciation is not included for the Water,Sewer and Golf Funds as it is reported on the City's balance sheet. Muncipalities typically do not budget for depreciation • C.;s«�.,,,�ti Agenda Item No. L ,,,I § City of Elgin r ul. ; L Int ,flt April21, 2006 � "ilk f 1 `lito! FP,Ill 1 N "IIo . j . L TO: Mayor and Members of the City Council FINANCIAL LY STABLE CITY GOVERNMENT EFFICIENT SERVICES, AND OUA LIT Y INFRASTRUCTURE FROM: • Olufemi Folarin, City Manage Sean R. Stegall, Assistant City anager SUBJECT: 2005 Budget Amendments PURPOSE The purpose of this memorandum is to provide the Mayor and members of City Council with information regarding proposed amendments to the 2005 Budget. RECOMMENDATION It is recommended that the City Council adopt the proposed amendments to the 2005 Budget. BACKGROUND Budget amendments are brought before the City Council each year for consideration as required by Illinois Statutes. These adjustments are necessary in order to implement City Council decisions made during the year and to make adjustments to reflect actual financial and programmatic changes which occurred. While much of this information has been previously reported to the City Council, this memorandum is designed to provide supplemental information regarding the proposed amendments to the 2005 Budget. Due to the fact that the City is required to use fund accounting, which breaks the budget up into several funds, it must be amended to reflect the financial activity undertaken in the previous year. Due to the planning nature of municipal budgeting, it is impossible to predict with complete accuracy the funding levels necessary at the fiscal year's inception. By amending the City budget in a retroactive fashion, the amended budget can reflect the actual funding requirements needed by the City. If an account expends over its budgeted amount, it is amended. However, if it comes in under budget, it may or may not be amended. Amendments to the 2005 Budget The attached includes the recommended amendments to the 2005 Budget. These amendments essentially reflect the estimates provided to the City Council in the Adopted 2006 Budget and 2006-2010 Financial Plan. l 2005 Budget Amendments April 21, 2006 Page 2 General Fund The 2005 Year End Position for the General Fund is as follows: GENERAL FUND ADJUSTED YTD BUDGET (12/31/05) Revenues $72,846,447 $76,122,746 Expenditures $71,075,753 $72,046,501 Year-End Position $ 4,076,245* *Please note that in order to balance future budgets the surplus is used in 2006 and the remaining years of the five-year plan. The ability to arrive in a net positive position of approximately $4.0 M, is due to several factors related to expenditures: • Significant expenditure controls put into place over the past several years; • Excellent financial management by the City departments; and • Lower than expected health care costs. On the revenue side of the equation, the results are much more positive than in recent years: • Sales Tax Receipts exceeded its budget by approximately $500,000; • Intergovernmental revenue exceeded its target by approximately $1,600,000; and • Permit revenue exceeded its target by approximately $1,300,000 As it relates to the City's reserves, the City still retains a General Fund Cash Reserve of approximately 16% of total General Fund Expenditures or approximately $11.5M. However, these monies are available to be utilized if the State reduces income or sales tax shared revenue to municipalities in 2006 or if housing growth were to slow. The 2006 Budget was not predicated on this scenario; thus, if it were to happen, this is a classic example of an appropriate use of the City reserves funds as set forth by the City Council policy. Special Revenue Funds The Special Revenue Funds were $786,508 under budget. Fund 296 (Parks and Recreation) arrived $291,772 under budget. This is due to lower than expected health care costs, savings in recreation program expenditures and lower than expected expenditures at Wing and Lords Park Aquatic Centers. The combination of these factors made it possible for the fund to arrive under budget and absorb the operating loss incurred at the Centre of Elgin. 2005 Budget Amendments April 21, 2006 Page 3 Debt Service Fund The Debt Service/Corporate Bond fund was under budget by $228,054 which was due to refinancing efforts. Capital Improvement Funds The Capital Improvement Funds are structured to cover projects that often times take many years to complete. For instance, in a given year the budget may be much higher than what is actually spent due to the changing work schedules during that year which can delay a project into the following fiscal year. When this happens, the "cash" remains in the fund, and the expenditure amounts may double up during the following year requiring a budget adjustment. For 2004, the capital improvement funds were $23,587,309 under budget. In 2005, they were $4,661,558 over budget. This demonstrates the multi-year nature of this fund-type. Enterprise Funds All of the enterprise funds came in under budget. Internal Service Funds All of the internal service funds came in under budget. It should be noted that the Medical Insurance Fund, due to recent cost control efforts, ended the year with a positive position of $1,602,309. This fund came in over budget by $52,660 and in 2003 the loss was over $400,000. Trust and Agency Funds All of the trust and agency funds came in under budget. COMMUNITY GROUPS/INTERESTED PERSONS CONTACTED None FINANCIAL IMPACT The budget amendments will adjust the 2005 Budget to better reflect what actually occurred financially during the year within the organization. Sufficient funding sources exist to enact the proposed changes. ��� /EGAL IMPACT None 2005 Budget Amendments April 21, 2006 Page 4 ALTERNATIVES • 1. Amend the 2005 Budget. 2. The City Council could choose not to amend the 2005 Budget; however this would be inconsistent with State Law. Respectfully submitted for Council consideration. SRS Attachments Ordinance No. T19-06 AN ORDINANCE AMENDING THE 2005 BUDGET BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ELGIN, ILLINOIS: Section 1. That the 2005 budget of the City of Elgin adopted in lieu of an appropriation ordinance be and is hereby amended in accordance with the schedule which is attached hereto and made a part hereof by reference. Section 2. That this ordinance shall be in full force and effect from and after its passage. s/Ed Schock Ed Schock, Mayor Presented: May 10, 2006 Passed: May 10, 2006 Omnibus Vote: Yeas: 7 Nays: 0 Recorded: May 11, 2006 Published: Attest: s/Dolonna Mecum Dolonna Mecum, City Clerk CITY OF ELGIN,IL 2005 BUDGET AMENDMENTS Period Ended(12/31/05) Adjusted Division Year-End Unaudited Amount Amended 2005 as a% Revenues Year-End Under(Over) % 2005 Fund Budget of Budget as a%of Budget* Expenditures Budget Expended Budget General Fund(010) Boards/Commissions $253,500 0.36% $271,501 $168,335 $103,166 66.40% $168,335 City Clerk 215,100 0.30% $230,374 217,936 $12,438 101.32% $217,936 Fire 13,454,095 18.93% $14,409,452 15,007,103 ($597,651) 111.54% $15,007,103 Emergency Operations 83,030 0.12% $88,926 60,977 $27,949 73.44% $60,977 Human Resources 674,370 1.00% $761,227 725,696 $35,531 107.61% $725,696 Legal 805,250 1.13% $862,430 738,887 $123,543 91.76% $738,887 Mayor and Council 215,410 0.30% $230,706 155,443 $75,263 72.16% $155,443 Office of the City Manager 1,398,940 1.97% $1,498,277 1,357,059 $141,218 97.01% $1,357,059 Police 24,903,177 35.04% $26,671,518 26,142,109 $529,409 104.97% $26,142,109 City Sponsored Events 100,000 0.14% $107,101 40,151 $66,950 40.15% $40,151 Non-Departmental 4,968,050 6.94% $5,282,919 5,215,214 $67,705 104.98% $5,215,214 Community Development Economic Development 322,070 0.45% $344,940 300,865 $44,075 93.42% $300,865 Code Admin.and Development 3,369,508 4.74% $3,608,772 3,024,452 $584,320 89.76% $3,024,452 Planning and Neighborhood Services 1,013,030 1.43% $1,084,964 866,873 $218,091 85.57% $866,873 Fiscal Services Finance 1,816,818 2.56% $1,945,828 1,619,942 $325,886 89.16% $1,619,942 Management Information Systems 890,959 1.25% $954,225 864,460 $89,765 97.03% $864,460 Purchasing 456,692 0.64% $489,121 406,171 $82,950 88.94% $406,171 General Services General Services Administration 194,520 0.27% $208,333 7,793 $200,540 4.01% $7,793 Building Maintenance 1,653,842 2.33% $1,771,279 1,645,994 $125,285 99.53% $1,645,994 Public Works 14,287,392 20.10% $15,301,920 13,481,041 $1,820,879 94.36% $13,481,041 TOTAL $71,075,753 100.00% $76,122,746 $72,046,501 $4,077,310 101.37% $72,046,501 *In contrast with other fund types,General Fund Revenues are not associated with any specific department. However,for the purposes of comparison with other funds and to show the relationship between year-end revenues and expenditures General Fund Revenues have been distributed as%of total 2005 Budget.