2018-08-20 - Ordinance 2018-039 - AMENDING FISCAL 2017 BUDGETORDINANCE NO.2018 - 039
AN ORDINANCE AMENDING FISCAL 2017 JANUARY 1-DECEMBER 31 2017
BUDGET FOR THE VILLAGE OF BUFFALO GROVE
WHEREAS, in accordance with Section 8-2-9.1 et. Seq. of the Illinois Municipal Code, 65
ILCS 5/8-2-9.1 et seq., and Section 2.08.043 of the Village of Buffalo Grove Municipal Code,
the President and Board of Trustees of the Village of Buffalo Grove have adopted the budget
officer system; and
WHEREAS, pursuant to Section 8-2-9.4 of the Illinois Municipal Code, 65 ILCS 5/8-2-9.4
and Section 2.08.43 of the Village of Buffalo Grove Municipal Code, the Village adopted an
annual budget for fiscal year 2017, by Village ordinance number 2016-62, on December 5, 2016
in the amount of $75,120,613; and
WHEREAS, the President and Board of Trustees of the Village of Buffalo Grove find that
an amendment to the annual budget ordinance is necessary at this time to more accurately reflect
the experience of the 2017 fiscal year.
NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF
TRUSTEES OF
THE VILLAGE OF BUFFALO GROVE, COOK AND LAKE COUNTIES, ILLINOIS that:
SECTION 1. That in order to more accurately reflect the experience of fiscal year 2017,
certain budget amendments are necessary per the attached.
SECTION 2. That these amendments should reflect actual revenues and expenditures for
fiscal year 2017 and will increase the total amount of the budgeted revenue by $118,662
and budgeted expenditures by $348,740.
SECTION 3. That the following amendments be made to the various department and line
item accounts as specified. (Exhibit A)
SECTION 4. Additional funds are available to effectuate this revision.
SECTIONm 5. That this ordinance shall be in full force and effect after the passage and
publication pursuant to the laws of the State of Illinois and the Village of Buffalo Grove.
AYES: 6 — Berman Stein Ottenheimer, Weidenfeld Johnson Smith
NAPES: 0 — None
ABSENT: 0 - None
PASSED: August 20, 2018
1
APPROVED: August 20, 2018
PUBLISHED: August 21, 2018
I JAL- �A A)
everly Sussm , Village President
ATTEST:
Janet . Sirabian, Village Clerk
Exhibit A
Budget Adjustments Amount Description
Revenue_
General Fund
100,455.35 52,000.00 Increase to cover excess revenue
School and Park
Donation
240.435.91
11,581.00
Developer Deposits
240.435.92
2,155.00
Developer Deposits
240.435.93
50,232.00
Developer Deposits
240.435.94
2,694.00
Developer Deposits
Expenditure
General Fund
100.40.500.35
School and Park
Donation
240.580.05
Fixed Assets
900.801
52,000.00 Increase to cover excess expenditure
67,882.00 Requested payouts to governmental entities
228,858.00 Depreciation Expense