Fiscal Year 2013 Budget Amendment

May 20, 2013

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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.

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2013 Amendment

Fund Name2013 Adopted

Budget2013 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

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2013 Amendment - Capital

Funding Adopted Amended AmendmentProject Description Description FY 13 FY 13 Change Explanation

Ecology Center Greenhouse Reconstruction GO Debt - 71,988 71,988 Bid PricePenny Park Renovations GO Debt 50,000 100,000 50,000 Bid PricePolice 1st Floor Conference Room Renovation GO Debt - 62,000 62,000 NewLadd Arboretum Bike Path Renovations GO Debt - 22,000 22,000 City Match for GrantNoyes Center Roof GO Debt - 434,000 434,000 City Match for GrantFire Station #2 Renovations - Design Only GO Debt - 53,000 53,000 New50 / 50 Sidewalk Replacement Program GO Debt 100,000 125,000 25,000 Bid PriceChurch Street Streetlights - Darrow to Pitner GO Debt - 85,000 85,000 NewMcDaniel Diagonal Parking (Crain St. to Cul-De-Sac) GO Debt - 75,000 75,000 NewStreet Resurfacing - CIP GO Debt 1,700,000 2,700,000 1,000,000 Additional Request

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2013 Amendment - Capital

Funding Adopted Amended AmendmentProject Description Description FY 13 FY 13 Change Explanation

Dempster Signal Phase II Engineering GO Debt 110,000 - (110,000) DeferredPedestrian Safety Improvements GO Debt 200,000 275,000 75,000 Bid PriceCentral Street Sidewalk - Eastwood to Hartrey Design GO Debt 350,000 175,000 (175,000) DeferredBridge Rehab Isabella Phase II - Design GO Debt 150,000 50,000 (100,000) DeferredBridge Street Bridge Phase III - Construction GO Debt 300,000 100,000 (200,000) DeferredAnimal Shelter Renovations Prior Debt 98,102 - (98,102) DeferredFire Station #4 Renovations Prior Debt 60,000 86,293 26,293 Bid PriceIsabella/Sheridan Rehabilitation Project (Wilmette Reimbursement) Prior Debt - 190,000 190,000 Carryover AddedCity Works Sign, Signal & Street Light Inventory and Upgrade Prior Debt 155,000 55,000 (100,000) DeferredNew World Financial Software Licensing and Implementation Parking Loan - 596,000 596,000 Approved & AddedDavis Streetscape / Resurfacing / Bike Lane - Benson to Dewey Grant 776,000 - (776,000) Grant Not ReceivedTOTAL 4,146,102$ 6,452,281$ 2,306,179$

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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

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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

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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.

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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%.

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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.

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