HomeMy WebLinkAboutRESOLUTION - 13-23 - 4/11/2023 - 2023-24 ADOPTING BUDGETRESOLUTION NO. 13-23
A RESOLUTION ADOPTING THE FISCAL YEAR 2023-24 BUDGET FOR THE
VILLAGE OF ELK GROVE VILLAGE, ILLINOIS
WHEREAS, a budget has been prepared and reviewed to provide Village services for the
2023-24 fiscal year; and,
WHEREAS, the maintenance of a financially strong local government requires that a
balanced budget be adopted to provide for the delivery of services to the community.
NOW, THEREFORE, BE IT RESOLVED, by the Mayor and Board of Trustees of the
Village of Elk Grove Village, Counties of Cook and DuPage, State of Illinois as follows:
Section 1: That the Fiscal Year 2023-24 Village Budget dated April 11, 2023 in the total
amount of $194,794,932 as indicated in the attached Revenue and Expenditure Summary
Comparisons, is hereby adopted.
Section 2: That all resolutions or parts of resolutions in conflict with this Resolution are
hereby repealed.
Section 3: That this Resolution shall be in full force and effect from and after its
adoption, approval and publication form as provided by law.
VOTE: AYES: 5 NAYS: 0 ABSENT: 0
PASSED this I It' day of April 2023.
APPROVED this 111h day of April 2023.
APPROVED:
Mayor Crailz B. Johnson
Village of Elk Grove Village
ATTEST:
Loretta M. Murphy, Village Clerk
PUBLISHED in pamphlet form this 131' day of April 2023.
Village of Elk Grove Village
Exhibit 1
Summary of Estimated Revenue by Source
Fiscal Year 2023-24
Funds
Taxes
Licenses and
Intergovernmental Charges for
Fines and Forfeits
Interest Income
Miscellaneous
Non Revenue
Village Total
Permits
Revenue Service
Income
Receipts
101 -General Fund
$
50,686,312 $
3,984,600
S 8,217,731 $ 2,307,700
$
906,500
S 625,700
$ 855,000
$ 2,654,000
S 70,237,543
203 - Motor Fuel Tax Fund
$ 1,320,000
$ 40,000
S 1,360,000
204 - Asset Seizure
$ 4,500
S 4,500
206 - Foreign Fire Insurance Fund
$
210,000
$ 5,000
S 215,000
208 - Business Leaders Forum Fund
$
4,575,000
$ 313,110
S 4,888,110
210 - Cable Television Fund
$
585,000
$ 1,000
S 586,000
212 - GREEN Fund
S
120,000
$ 712,000
$ 10,000
$ 52,000
S 894,000
301 -Capital Projects Fund
$
3,975,000
$ 1,157,150
S 1,400,000
S 6,532,150
310 - Residential Enhancement Fund
$
450,000
S 1,000
S 451,000
321 - Devon/Rohl Redevelopment Fund
$
550,O00
$ too
S 550,100
322 - Busse/Elm Redevelopment Fund
$
27,500,000
$ I W,500
S 27,600,500
323 - Higgins Rd Redevelopment Fund
$
5,000,000
$ 100
$ 5,000,100
326 - Arlington/Higgins Redev. Fund
S 4,000,UW
S 4,000,000
402 - Debt Service Fund
$
6,771,469
$ 5,000
S 6,776,469
501 - Water/Sewer Fund
$ 21,087,500
S
200,000
$ 1,471,632
$ 5,000
$ 20,000
S 22,784,132
601 - Capital Replacement Fund
$ 50,000
$ 1,869,251
S 1,919,251
721 - Firefighters Pension Fund
$
5,717,339
$ 1,056,347
$ 6,500,100
$ 930,000
S 14,203,786
722 - Police Pension Fund
$
4,938,678
S 1,002,299
$ 7,000,100
$ 900,000
S 13,841,077
Village Total
$
110,508,798 $
4,104,600
S 11,596,377 $ 24,107,200
S
1,556,500
S 17,284,992
S 2,742,000
$ 9,943,251
S 181,843,718
190 - Library Fund $ 6.413 927 S $ 277,270 S 37,000 $ 4200 $ 75,050 S 750 S 3,100 S 6 811 297
Total Village and library $ 116,922,725 $ 4,104,600 $ 11,873,647 S 24,144,200 $ 1,560,700 S 17,360,042 S 2,742,750 $ 9,946,351 S 188,655,015
PERCENT TOTAL 61.98% 2.18% 6,29% 12.80% 0.83% 9.20% 1.45% 527% 100.00%
VILLAGE OF ELK GROVE
EXPENDITURE SUMMARY
Fund
FY2021
Actuals
FY2022
Actuals
FY2023
Adjusted Budget
FY2024
Adopted Budget
101 - General Fund
$
62,278,405
$ 70,553,237
$
69,005,183
$
70,676,769
203 - Motor Fuel Tax Fund
$
1,145,637
$ 1,437,061
$
2,772,129
$
1,050,000
204 - Asset Seizure
$
6,012
$ 901
$
14,900
$
207,250
206 - Foreign Fire Insurance Fund
$
320,598
$ 156,835
$
243,279
$
290,825
208 - Business Leaders Forum Fund
$
4,116,079
$ 3,574,342
$
6,501,983
$
3,745,828
210 - Cable Television Fund
$
454,029
$ 486,888
$
484,315
$
500,678
212 - GREEN Fund
$
921,568
$ 911,372
$
946,680
$
960,416
301 - Capital Projects Fund
$
8,030,414
$ 2,598,500
$
16,646,415
$
7,195,000
310 - Residential Enhancement Fund
$
97,812
$ 972,442
$
1,179,076
$
282,000
320 - Grove Mall Redevelopment Fund
S
209,182
$ 1,404,899
$
-
$
-
321 - Devon/Rohl Redevelopment Fund
S
472,148
$ 364,451
$
929,600
$
538,000
322 - Busse/Elm Redevelopment Fund
$
6,661,659
$ 15,662,397
$
37,861,450
$
33,454,232
323 - Higgins Rd Redevelopment Fund
$
21,238,670
$ 2,709,929
$
5,034,480
$
5,756,815
324 - Midway Ct Redevelopment Fund
S
-
$ 15,163
$
18,000,000
$
251,000
325 - Oakton/Hig Redevelopment Fund
$
$ 8,761
$
49,928
$
251,000
326 - Arlin on/Hig Redevelopment Fund
S
-
$ -
$
8,000,000
$
9,402,500
402 - Debt Service Fund
S
8,101,500
$ 22,614,822
$
8,108,188
$
6,776,469
501 - Water/Sewer Fund
S
20,809,793
$ 17,269,242
$
25,331,520
$
27,002,053
601 - Capital Replacement Fund
S
339,739
$ 74,128
$
4,446,526
$
1,641,000
721 - Firefighters Pension Fund
S
7,567,478
$ 7,821,874
$
8,606,000
$
9,126,000
722 - Police Pension Fund
S
6,852,413
$ 8,039,395
$
8,280,800
$
8,875,800
Village Total
$
149,623,136
$ 156,676,640
$
222,442,452
$
187,983,635
290 - Library Fund $ 5,104,375 $ 5,211,542 $ 6,511,690 $ 6,811,297
Total Village and Library $ 154,727,511 $ 161,888,181 $ 228,954,142 $ 194,794,932
VILLAGE OF ELK GROVE
REVENUE SUMMARY
Fund
FY2021
Actuals
FY2022
Actuals
FY2023
Adjusted Budget
FY2024
Adopted Budget
101 - General Fund
S
62,208,974
$
71,450,526
$
65,901,023
$ 70,237,543
203 - Motor Fuel Tax Fund
S
2,279,609
$
2,050,204
$
1,325,000
$ 1,360,000
204 - Asset Seizure
$
21,301
$
81,632
$
2,500
$ 4,500
206 - Foreign Fire Insurance Fund
$
169,482
$
178,767
$
185,000
$ 215,000
208 - Business Leaders Forum Fund
$
3,614,804
$
4,662,807
$
4,609,000
$ 4,888,110
210 - Cable Television Fund
$
408,548
$
421,116
$
422,000
$ 586,000
212 - GREEN Fund
$
876,735
$
899,784
$
859,500
$ 894,000
301 - Capital Projects Fund
$
2,399,774
$
13,433,325
$
4,814,000
$ 6,532,150
310 - Residential Enhancement Fund
$
561,740
$
390,606
$
450,500
$ 451,000
320 - Grove Mall Redevelopment Fund
$
1,186,030
$
1,103,693
$
-
$ -
321 - Devon/Rohl Redevelopment Fund
$
534,497
$
421,135
$
550,100
$ 550,100
322 - Busse/Elm Redevelopment Fund
$
20,642,059
$
27,289,702
$
26,050,500
$ 27,600,500
323 - Higgins Rd Redevelopment Fund
$
23,313,686
$
5,954,695
$
4,600,100
$ 5,000,100
325 - Oakton/Hig Redevelopment Fund
$
-
$
5,500,000
$
-
$ -
326 - Arlington/Hig Redevelopment Fund
$
-
$
-
$
-
$ 4,000,000
402 - Debt Service Fund
$
8,067,686
$
22,663,280
$
8,108,188
$ 6,776,469
501 - Water/Sewer Fund
$
22,128,587
$
29,226,452
$
23,835,821
$ 22,784,132
601 - Capital Replacement Fund
$
144,626
$
1,405,518
$
2,110,494
$ 1,919,251
721 - Firefighters Pension Fund
$
26,565,159
$
2,493,689
$
13,574,231
$ 14,203,786
722 - Police Pension Fund
$
28,447,110
$
3,243,767
$
13,121,425
$ 13,841,077
Village Total
$
203,570,409
$
192,870,697
$
170,519,382
$ 181,843,718
290 - Library Fund $ 6,206,866 $ 6,545,250 $ 6,511,690 $ 6,811,297
Total Village and Library $ 209,777,275 $ 199,415,947 $ 177,031,072 $ 188,655,015