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Fiscal Year 2013
Budget Amendment
May 20, 2013
2
2013 Budget Amendment
• Amendments provide further disclosure on the expenditures
authorized by the City Council each ye...
3
2013 Amendment
Fund Name
2013 Adopted
Budget
2013 Budget
Amendments
2013 Amended
Budget Funding Source
Emergency Telepho...
4
2013 Amendment - Capital
Funding Adopted Amended Amendment
Project Description Description FY 13 FY 13 Change Explanatio...
5
2013 Amendment - Capital
Funding Adopted Amended Amendment
Project Description Description FY 13 FY 13 Change Explanatio...
6
2013 Amendment – Davis St.
• Davis Street Adopted Budget
• Davis Street Proposed Amendment
Fund Funding Total
Descriptio...
7
2013 Amendment - Debt
• Original Adopted Budget included $5,872,000 in projects funded
through unabated General Obligati...
8
2013 Amendment – Other
Funds
• Emergency Telephone (E911) Fund – The proposed FY 2013 Budget
Amendment would increase ex...
9
2013 Amendment – Other
Funds
• Special Assessment Fund – The proposed FY 2013 Budget
Amendment would reduce capital expe...
10
2013 Amendment – Other
Funds
• Water Fund – The proposed FY 2013 Budget Amendment would
increase expenses in the Water ...
Questions?
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Sp4 2013 budget amendment 05.20.13

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2013 Fiscal year budget amendments

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Sp4 2013 budget amendment 05.20.13

  1. 1. Fiscal Year 2013 Budget Amendment May 20, 2013
  2. 2. 2 2013 Budget Amendment • Amendments provide further disclosure on the expenditures authorized by the City Council each year. • Amendments do not always mean the expenditure of more tax dollars. • This Amendment includes: • Additional Capital Improvement Projects. • Additional Community/Economic Development Activities. • Interfund Expenses that result from the above changes. • This Amendment does not include: • New Staff • Increased Operating Expenses (such as wages) • Total Amendment for All Funds is $6,575,379 increasing from $247,359,877 to $253,935,256.
  3. 3. 3 2013 Amendment Fund Name 2013 Adopted Budget 2013 Budget Amendments 2013 Amended Budget Funding Source Emergency Telephone 1,197,280 50,000 1,247,280 Reserves CDBG 1,925,100 159,000 2,084,100 Prior Year Funding Washington National TIF 8,746,726 (50,000) 8,696,726 N/A Capital Improvement 11,269,172 2,306,179 13,575,351 G.O. Bonds Special Assessment 817,660 (139,000) 678,660 N/A Parking 14,423,983 2,796,000 17,219,983 Reserves Water 20,681,479 630,700 21,312,179 G.O. Bonds Sewer 18,443,588 822,500 19,266,088 MWRD All Other Funds 169,854,889 169,854,889 TOTAL 247,359,877 6,575,379 253,935,256
  4. 4. 4 2013 Amendment - Capital Funding Adopted Amended Amendment Project Description Description FY 13 FY 13 Change Explanation Ecology Center Greenhouse Reconstruction GO Debt - 71,988 71,988 Bid Price Penny Park Renovations GO Debt 50,000 100,000 50,000 Bid Price Police 1st Floor Conference Room Renovation GO Debt - 62,000 62,000 New Ladd Arboretum Bike Path Renovations GO Debt - 22,000 22,000 City Match for Grant Noyes Center Roof GO Debt - 434,000 434,000 City Match for Grant Fire Station #2 Renovations - Design Only GO Debt - 53,000 53,000 New 50 / 50 Sidewalk Replacement Program GO Debt 100,000 125,000 25,000 Bid Price Church Street Streetlights - Darrow to Pitner GO Debt - 85,000 85,000 New McDaniel Diagonal Parking (Crain St. to Cul-De-Sac) GO Debt - 75,000 75,000 New Street Resurfacing - CIP GO Debt 1,700,000 2,700,000 1,000,000 Additional Request
  5. 5. 5 2013 Amendment - Capital Funding Adopted Amended Amendment Project Description Description FY 13 FY 13 Change Explanation Dempster Signal Phase II Engineering GO Debt 110,000 - (110,000) Deferred Pedestrian Safety Improvements GO Debt 200,000 275,000 75,000 Bid Price Central Street Sidewalk - Eastwood to Hartrey Design GO Debt 350,000 175,000 (175,000) Deferred Bridge Rehab Isabella Phase II - Design GO Debt 150,000 50,000 (100,000) Deferred Bridge Street Bridge Phase III - Construction GO Debt 300,000 100,000 (200,000) Deferred Animal Shelter Renovations Prior Debt 98,102 - (98,102) Deferred Fire Station #4 Renovations Prior Debt 60,000 86,293 26,293 Bid Price Isabella/Sheridan Rehabilitation Project (Wilmette Reimbursement) Prior Debt - 190,000 190,000 Carryover Added City Works Sign, Signal & Street Light Inventory and Upgrade Prior Debt 155,000 55,000 (100,000) Deferred New World Financial Software Licensing and Implementation Parking Loan - 596,000 596,000 Approved & Added Davis Streetscape / Resurfacing / Bike Lane - Benson to Dewey Grant 776,000 - (776,000) Grant Not Received TOTAL 4,146,102$ 6,452,281$ 2,306,179$
  6. 6. 6 2013 Amendment – Davis St. • Davis Street Adopted Budget • Davis Street Proposed Amendment Fund Funding Total Description Responsible Source FY13 Davis Street Street Streetscape / Repaving - Benson to Chicago Washington TIF Reserves $ 2,325,000 Davis Street Sewer (If No IEPA Loan) Washington TIF Reserves $ 180,000 Davis Streetscape / Resurfacing / Bike Lane - Benson to Dewey Capital Improvement G.O. Bonds $ 97,000 Davis Streetscape / Resurfacing / Bike Lane - Benson to Dewey Capital Improvement Grant $ 776,000 3,378,000 Amended Fund Funding Total Description Responsible Source FY13 Davis Street Streetscape - Benson to Chicago - Utility Improvements Washington TIF Reserves $ 1,025,000 Davis Street Streetscape - Benson to Chicago - Repaving Washington TIF Reserves $ 1,300,000 Davis Street Sewer (If No IEPA Loan) Washington TIF Reserves $ 130,000 Davis Streetscape / Resurfacing / Bike Lane - Benson to Dewey Capital Improvement G.O. Bonds $ 1,197,000 Davis Street Sewer Improvements - MWRD Sewer MWRD $ 822,500 4,474,500
  7. 7. 7 2013 Amendment - Debt • Original Adopted Budget included $5,872,000 in projects funded through unabated General Obligation (G.O.) Debt. • The Amended Budget is proposed to include $8,339,988 in the Amended Capital Improvements Plan. • The Unabated G.O. Debt to be paid on 12/1/13 this year will be $8,175,536 • The Adopted Budget included $4.0 million in G.O. Debt to refinance Sewer IEPA Loans, and this amount is planned to be reduced by $2.0 million for the 2013 bond issue due to adequate fund balances in the Sewer Fund. • The Adopted G.O. Bond Issue was planned at $9,872,000 and the Proposed Amended Bond issue would be at $10,400,000
  8. 8. 8 2013 Amendment – Other Funds • Emergency Telephone (E911) Fund – The proposed FY 2013 Budget Amendment would increase expenditures in the E911 Fund by $50,000due to higher than anticipated bids for the Emergency Alert System project. • Community Development Block Grant (CDBG) Fund – –Carryover of $35,000 of unspent FY 2012 CDBG Funds for the Firemen’s Park Renovations project. –Carryover of $90,000 of unspent FY 2012 CDBG Funds for the Alley Paving project –Carryover of $30,000 of unspent FY 2012 CDBG funds and carryover of $4,000 of unspent FY 2011 CDBG funds for the SNAP Lighting project. • Washington National TIF Fund – As part of the FY 2013 Budget Amendment, staff proposes reducing the Washington National TIF Fund budget by $50,000 due to favorable bids received for the Davis Street Sewer project.
  9. 9. 9 2013 Amendment – Other Funds • Special Assessment Fund – The proposed FY 2013 Budget Amendment would reduce capital expenditures for the Special Assessment Fund by a total of $139,000 due to less than budgeted 50/50 Alley activity.. • Parking Fund – The proposed FY 2013 Budget Amendment would increase expenses in the Parking Fund by a total of $2,796,000. The proposed increase would account for two items: – Noyes Cultural Arts Center – The proposed budget amendment includes a loan to the Piven Theatre Group for the build out of the Noyes Cultural Arts Center for $2.2 million to be repaid to the City over a thirty year period at an annual interest rate of 2%. – New World Financial System – The proposed amendment also includes a Parking Fund loan of $596,000 to the Capital Improvement Fund for licensing and implementation costs associated with the New World financial software system Maintenance costs for the current financial system (JD Edwards) will be used to repay the Parking Fund loan at an annual interest rate of 2%.
  10. 10. 10 2013 Amendment – Other Funds • Water Fund – The proposed FY 2013 Budget Amendment would increase expenses in the Water Fund by a total of $630,700. The proposed amendment includes the issuance of Water Fund general obligation debt for the water main portion of the Davis Street Water Main and Sewer Replacement Project. • Sewer Fund – The proposed FY 2013 Budget Amendment would increase expenses in the Sewer Fund by a total of $822,500. The proposed amendment includes grant funds from the Metropolitan Water Reclamation District (MWRD) for Sewer Replacement related to the Davis Street Water Main and Sewer Replacement Project.
  11. 11. Questions?

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