Finance Committee

AGENDA COMMITTEE OF THE WHOLE NO. March 18, 2024 - 6:00 PM Village Hall - Board Room 300 Plaza Circle, Mundelein, IL 60060 I. CALL TO ORDER II. MINUTES APPROVAL III. PUBLIC COMMENTARY IV. FY2025 BUDGET DISCUSSION A. Preliminary FY2025 Budget Presentation V. ADJOURNMENT The Village of Mundelein, in compliance with the Americans with Disabilities Act, requests that persons with disabilities who require certain accommodations to allow them to observe and/or participate in this meeting, or who have questions about the accessibility of the meeting or facilities, to contact the ADA Coordinator at 847-949-3200 to allow the Village to arrange accommodations for those persons. Page |1 Page 1 of 39 FY2025 BUDGET PRESENTATION Presentation to the Village Board March 18, 2024 6:00 PM Village Hall Page 2 of 39  MEETING OUTLINE 2 1. FY2024 Budget Recap 11. Capital Projects – What is in? 2. General Fund 12. Capital Projects – What is out? 3. Revenues 13. Personnel Requests 4. FY2025 Budget Overview 14. Fund Accounting / Budgeting 5. FY2025 Expense Comparison 15. General Fund 6. Inflation / Increases 16. Other Funds Balances 7. Consolidation of Accounts 17. Water / Sewer Rates 8. Department Review 18. Village Wide Water 9. Roads – FY24 Consumption Accomplishments 19. Next Steps 10. Roads – FY25 Goals 20. Question / Answer 11. Street Funding Page 3 of 39  BUDGET RECAP – 3 FY2024 FY2024 FY2024 BUDGET PROJECTED REVENUES $32,435,000 $34,948,449 EXPENDITURES Boards and Commissions $564,815 $565,615 Administration (Admin, HR, IT, Marketing) $2,681,523 $2,916,525 Building Department $1,072,723 $1,223,995 Community Development $727,572 $771,510 Finance $977,336 $1,557,601 Fire Department $6,113,162 $6,676,728 Legal $706,650 $335,704 Police Department $11,920,384 $12,923,603 Public Works $4,527,235 $4,893,953 Non-operational (Capital & Transfers) $3,143,600 $3,083,215 TOTAL EXPENDITURES $32,435,000 $34,948,449 Page 4 of 39  GENERAL FUND 4 REVENUES FY2024 Other Other Includes: $6.3M 18.09% Property Tax - Ambulance Fees $10.5 M - Bank Interest Income Tax 30.15% - Permits $5.1 M - Licenses 14.50% - Telecommunications Tax Sales Tax - Use Tax $13.0 M - Hotel Tax 37.26% - Video Gaming FY20 FY21 FY22 FY23 FY24 $ Property Tax 9,106,048 $ 9,246,167 $ 9,757,342 $ 9,732,342 $ 10,403,854 $ Sales Tax 8,334,219 $ 10,725,144 $ 11,786,631 $ 13,539,003 $ 13,092,600 Page 5 of 39  REVENUES 5 REVENUES – FY24 PROJECTIONS  Income Tax – Down 1%  Sales Tax – Down 1%  Cannabis – Down 26%  Interest – Up 1900% Page 6 of 39  GENERAL FUND 6 FY2024 Expenditures by Department Police Fire Public Works Non-operational Administration Finance Building Community Development Boards/Commissions Legal 0 2000 4000 6000 8000 10000 12000 14000 Page 7 of 39  GENERAL FUND 7 FY2024 EXPENDITURES BY OBJECT Other 3.3 M Supplies 2.2 M Services 6.9 M Personnel 24.4 M Page 8 of 39  BUDGET OUTLOOK 8 2024-2025 FY2024 FY2024 FY2025 BUDGET PROJECTED BUDGET REVENUES $32,435,000 $34,948,449 $35,850,000 EXPENDITURES Boards and Commissions $564,815 $565,815 $515,634 Administration (Admin, HR, IT, $2,681,523 $2,916,525 $3,070,805 Marketing) Building Department $1,072,723 $1,223,995 $1,256,081 Community Development $727,572 $771,510 $802,323 Finance $977,336 $1,557,601 $2,029,692 Fire Department $6,113,162 $6,676,728 $7,122,554 Legal $706,650 $335,704 $497,000 Police Department $11,920,384 $12,923,603 $13,346,413 Public Works $4,527,235 $4,893,953 $5,472,648 Capital (Non-operational) $1,323,600 1,263,215 $1,011,850 Transfers (Non-operational) $1,820,000 $1,820,000 $785,000 Page 9 of 39  BUDGET OUTLOOK 9 2024-2025 FY2024 FY2024 FY2025 FY2025 BUDGET BUDGET PROJECTED BUDGET (Increase Home Rule .25%) REVENUES $32,435,000 $34,948,449 $35,850,000 $37,050,000 EXPENDITURES Boards and Commissions $564,815 $565,815 $515,634 $515,634 Administration (Admin, HR, IT, $2,681,523 $2,916,525 $3,070,805 $3,070,805 Marketing) Building Department $1,072,723 $1,223,995 $1,256,081 $1,256,081 Community Development $727,572 $771,510 $802,323 $802,323 Finance $977,336 $1,557,601 $2,029,692 $2,029,692 Fire Department $6,113,162 $6,676,728 $7,122,554 $7,122,554 Legal $706,650 $335,704 $497,000 $497,000 Police Department $11,920,384 $12,923,603 $13,346,413 $13,346,413 Public Works $4,527,235 $4,893,953 $5,472,648 $5,472,648 Capital (Non-operational) $1,323,600 1,263,215 $1,011,850 $1,011,850 Transfers (Non-operational) $1,820,000 $1,820,000 $785,000 $785,000 Page 10 of 39 TOTAL EXPENDITURES $32,435,000 $34,948,449 $35,850,000 $35,850,000  REVENUES 10 REVENUES – FY25 BUDGET Income Tax  6% $400,000 Sales Tax  8% $350,000 Building Permit Fees  18% $350,000 Ambulance Services Fees  18% $215,000 Hotel/Motel Tax  200% $200,000 Video Gaming  75% $150,000 Building / Police Fines  60% $150,000 Cable TV Franchise Fees  50% $125,000 Telecommunications Tax  6% $100,000 Interest on Investments  10% $100,000 HR Sales Tax  1% $50,000 Use Tax  30% ($300,000) Cannabis  15% ($350,000) Page 11 of 39  FY2024 – FY2025 11 EXPENSE COMPARISON $40,000,000 TOTAL BUDGET $35,000,000 $80,000,000 $73,688,393 $67,279,573 $30,000,000 $70,000,000 $25,000,000 $60,000,000 $20,000,000 $50,000,000 $15,000,000 $10,000,000 $40,000,000 $5,000,000 $30,000,000 $0 $20,000,000 nd un d ts er ds Fu ee at Fu er St r w n at e F St er $10,000,000 or Se or th po w m O r er C / al Wat $0 en Total Budget er G FY24 FY25 FY24 FY25 Page 12 of 39  INFLATION / 12 INCREASES  Personnel  IRMA Liability/WC Insurance Deductibles - $575K or 256%  IRMA Liability/WC Insurance Premium - $430K or 122% (Deductible Change from 100K to 50K)  Unemployment Claims - $112K  Commodities  Chemicals – 400% Increase  Contracted Labor - Varies Page 13 of 39  CAPITAL PROJECTS 13 WHAT IS IN?  Roads - $6,850,000  Building Permitting Software - $250,000  Financial Software - $184,000  Fire Building Generator Replacement - $225,000  LED Streetlights – $65,000  Fire OSHA Fit Testing Machine - $16,000 Page 14 of 39  CAPITAL PROJECTS 14 WHAT IS OUT?  PW Building Roof Replacement - $500,000  Fire Engine Extrication Equipment - $43,495  Furniture - Police, Fire & Village Hall - $126,000  Police Chiller - $225,000  Vehicles - $1,077,000 Page 15 of 39  CONSOLIDATION OF 15 ACCOUNTS  FINANCE  IRMA – General Liability/WC Insurance  HUMAN RESOURCES  Employment Advertising  Physical Exams  Unemployment Claims  INFORMATION TECHNOLOGY  Computer Equipment  Software Support  PUBLIC WORKS  Gas Accounts  Janitorial Supplies  Facility Maintenance  Vehicle Maintenance Page 16 of 39  ADMINISTRATION (Includes HR, IT, & Marketing) 16 EXPENDITURES BUDGET BUDGET PROJECTED BUDGET (201, 202, 204, 205) 2023 2024 2024 2025 Personnel $1,650,000 $1,585,898 $1,820,900 $1,887,455 Services $460,000 $613,265 $613,265 $842,040 Supplies $250,000 $394,560 $394,560 $341,310 Capital $40,000 $87,800 $87,800 $0 TOTAL $2,400,000 $2,681,523 $2,916,525 $3,070,805 Achievements  Implemented FOIA software with NextRequest to reduce redundancies and increase staff efficiencies.  Coordination of Morris Station ComEd line burial project.  Coordinated beautification projects with Beautification Committee, focused on America in Bloom grant and advisor visit; recognized with multiple National awards from America in Bloom.  Ongoing collaboration and support to community organizations, including Mundelein Tool Library, Mundelein Community Connection, and Historical Commission.  Hired Leading IT as outsource IT partner.  Selected and are implementing a new website, agenda software, newsletter and resident alert programs. Goals  Lead strategic review of Archer Business Center long term plan; consider Arts Center, Tool Library relocation or possible sales to entrepreneur for incubator model; recommend disposition to Board of Trustees in 2024.  Continue to evaluate property acquisition opportunities throughout the downtown.  Implement new programming recommended by Beautification Committee, including A-May-Zing Mundelein participation, Spring into Summer event, Village areas improvements via volunteers and address America in Bloom recommendations.  Continue leadership role with PSAP/Lake County 911 Consolidation initiative; focus on financial impact with a potential turnover date in 2025.  Sign contract and begin implementation of new software systems for Finance and Building Permits  Continue to analyze redundant or outdated processes and reduce expenses accordingly. Page 17 of 39  BUILDING 17 DEPARTMENT EXPENDITURES BUDGET BUDGET PROJECTED BUDGET (281/282) 2023 2024 2024 2025 Personnel $1,151,490 $1,025,618 $1,176,890 $1,207,411 Services $22,140 $26,135 $26,135 $26,450 Supplies $20,970 $18,870 $18,870 $22,220 Capital $4,400 $2,100 $2,100 $0 TOTAL $1,200,000 $1,072,723 $1,223,995 $1,256,081 Achievements • Maintained a respectful turnaround time on permit submittals despite being understaffed and with heavy permit and inspection volume. The 5-day was achieved 70% of the time. • 8,374 inspections, an increase of 62.2%. • 96 % of all non-residential properties were inspected by our part-time fire inspector program, and assistance from the Fire Department. This is the highest completion rate in many years. • Staff received and worked on over 1,056 complaints for the year 2023. This does not include any cases leftover from year 2022. • Over 3,148 permits have been submitted 2023 for Mundelein alone. • 60 Code Enforcement cases were processed through the Administrative Adjudication program. • Fence enforcement is at full swing with approximately over 50% of those identified making repairs in the first year. • Chicken keeping permits, a total of 12 have been processed with inspections of the properties underway. Approval of the property and the coop must take place before chickens can arrive. • Landlord Registration are processed online for the second with very little issue. • Contractor Registrations are being processed online for the second year. Over 2200 applications have been submitted Goals Continue to maintain a high level of professionalism while performing our duties and educate whenever possible. Continue to deliver a very high level of customer service and continue to find ways of improving that and being more efficient. Continue development of on-line, paperless submittals for permits, registrations and all applications. Continue with the training and professional development of staff. The technology of construction is ever changing, and it is vital that inspection staff remain well trained. Review all fees charged in the department and propose any changes to the Village Board in order to keep fees as current and up to date as possible. Continue to develop a succession plan for the department. Propose updates to the major building codes for adoption by the Village. The next suggested update would be to the 2021 International Code Series. Page 18 of 39  COMMISSIONS 18 EXPENDITURES BUDGET BUDGET PROJECTED BUDGET (Various) 2023 2024 2024 2025 Services $272,000 $311,000 $311,000 $285,020 Supplies $25,000 $38,450 $38,450 $51,620 Capital $5,000 $2,500 $2,500 $0 TOTAL $302,00 $351,950 $351,950 $336,640 Page 19 of 39  COMMISSIONS 19 Arts Commission Beautification $30,000 Committee $25,000 $20,000 $20,000 $15,000 $15,000 $10,000 $10,000 $5,000 $5,000 $0 $0 FYE2024 FYE2025 FYE2024 FYE2025 Economic Fourth of July Development Commission Commission $300,000 $10,000 $200,000 $5,000 $100,000 $0 $0 FYE2024 FYE2025 FYE2024 FYE2025 Page 20 of 39  COMMISSIONS 20 Historical Planning and Zoning Commission Commission $4,000 $600 $3,000 $400 $2,000 $200 $1,000 $0 $0 FYE2024 FYE2025 FYE2024 FYE2025 Police & Fire Commission $76,000 $71,000 $66,000 $61,000 $56,000 FYE2024 FYE2025 Page 21 of 39  COMMUNITY 21 DEVELOPMENT EXPENDITURES BUDGET BUDGET PROJECTED BUDGET (203) 2023 2024 2024 2025 Personnel $597,590 $579,362 $623,300 $632,378 Services $134,380 $132,500 $132,500 $155,025 Supplies $14,080 $15,710 $15,710 $14,920 Capital $3,950 $0 $0 $0 TOTAL $750,000 $727,572 $771,510 $802,323 Accomplishments  Cardinal Square continued construction on buildings D1 and D2 – D1 received occupancies for portions of the building.  Sheldon Woods Phase I is nearing completion. Second phase expected to begin in FY25.  Townes at Oak Creek saw permits for over 15 townhouse buildings.  X Factor parking lot renovations completed.  Hosted third Mundelein Tighthead Grand Prix - Intelligentsia Cup Bike Race.  Continued work on Environmental Review for Community Project Funding from Rep. Schneider’s office for Park Street Closure and Enhancement.  Tonality Brewing opened at 169 North Seymour.  Morris Station completed most of the construction of residential project on the east side of the railroad tracks at 538 Morris Avenue. Continuing construction on the west side of the railroad tracks, 101 East Maple Avenue.  Station 250 at the Village Hall Subdivision Lot 3 and the west half of the Metra Lot is under construction.  Continued coordination with development team for Ivanhoe Village for the Traditional Neighborhood Development/New Urbanist project in the Village Growth Areas.  Continued shared services with Long Grove Planning Contract.  DeBruler Company construction of affordable senior apartments at Hawley Street/Prospect Avenue.  Initiated visioning for Bank Triangle bound by Park Street, Morris Avenue, the railroad tracks, and Hawley Street.  Initiated contract with AMS for evaluation of feasibility for an Arts & Business Center. Page 22 of 39  COMMUNITY 22 DEVELOPMENT BIG PROGRAM  FY 2025 Request - $175,000  Continues to exceed expectations.  $825,000 in grants awarded since 2014  The combined community investment is just over $7.5 million.  74 businesses have utilized the program. Page 23 of 39  EXECUTIVE 23 EXPENDITURES PROJECTED BUDGET (111) 2024 2025 Personnel $104,300 $107,719 Services $94,440 $66,800 Supplies $10,925 $4,475 Capital $4,000 $0 TOTAL $213,665 $178,994 Page 24 of 39  FINANCE 24 EXPENDITURES BUDGET BUDGET PROJECTED BUDGET (231) 2023 2024 2024 2025 Personnel $423,000 $269,418 $202,580 $336,666 Services $141,000 $695,418 $1,342,521 $1,673,100 Supplies $9,000 $12,500 $12,500 $19,926 Capital $0 $0 $0 $0 TOTAL $573,000 $977,336 $1,557,601 $2,029,692 Achievements • Implemented OpenGov AR Module. • Implemented WorkforceNow to facilitate more Personnel Budgeting. • Evaluated Financial Software products to gain more efficiency and effectiveness. Goals • Expand use of OpenGov reporting for financial reporting and budget preparation • Implement new Financial Software. Page 25 of 39  FIRE DEPARTMENT 25 EXPENDITURES BUDGET BUDGET PROJECTED BUDGET (321, 322, 323, 324, 325) 2023 2024 2024 2025 Personnel $5,336,052 $5,107,041 $5,670,607 $6,089,334 Services $697,846 $673,067 $673,067 $708,675 Supplies $254,022 $313,054 $313,054 $324,545 Capital $37,080 $20,000 $20,000 $0 TOTAL $6,325,000 $6,113,162 $6,676,728 $7,122,554 2024 Achievements • Responded to 4,568 fire and EMS-related incidents. • Treated and transported 2,060 patients to local hospitals. • Treated and released 784 patients. • Fires – We responded to 35 fires in the Village. Of these 35 fires, 9 were building fires that resulted in a fire loss of $880,600. The other 26 fires included 6 passenger vehicle fires (fire loss of $130,000), 6 cooking fires fire loss $3,000), 7 grass fires with one damaging the siding of a townhome development (fire loss of $10,000) and 7 other types of fires. The total fire loss for the year was $1,023,600. Goals • Continue to provide the highest level of fire and EMS services to meet the growing needs of our community. • Continue to provide the highest level of fire and EMS training to ensure proficiency of skills and safety of our firefighters. • Continue to promote physical fitness training and use safety equipment to prevent injuries and protect our personnel. • Continue to encourage and develop strong communication skills and individual accountability. • Continue to expand Public Education outreach and interaction within our community through existing programs and the development of new educational programs for targeted audiences. • Continue to participate in various functions supporting the Village, schools, and civic programs. • Continue to develop and maintain quality supervisors capable of handling routine and large-scale incidents. • Continue to plan and train for an Active Threat response as a coordinated effort with other Village Departments as well as with other local municipalities in and around Lake County. • Continue the professional development of our personnel through locally and nationally recognized programs such First-In Company Officer, Blue Card Incident Command, the Texas A&M (TEEX) Enhanced Incident Command Management, and the National Fire Academy. Page 26 of 39  POLICE DEPARTMENT 26 EXPENDITURES BUDGET BUDGET PROJECTED BUDGET ( 301, 302, 303, 304, 305 & 2023 2024 2024 2025 306) Personnel $10,581,490 $11,004,502 $11,927,721 $12,451,351 Services $561,340 $497,837 $577,837 $503,727 Supplies $426,580 $378,945 $378,945 $391,335 Capital $31,590 $39,100 $39,100 $0 TOTAL $11,600,000 $11,920,384 $12,923,603 $13,346,413 Achievements • Named 29th Safest City in America by Neighborhood Scout. • Successfully completed CALEA yearly annual assessment. • Annual crisis planning sessions with Districts 73, 75, 76, 79, and 120. • Public Education Provided: 4 Station Tours, 3 Landlord Training Classes. • Community Policing initiatives were continued with citizen contacts (15,614 since September 1, 2013) and park checks (17,223 since July 1, 2013). • Police administration and beat officers conducted 420 new resident visits in 2023. Goals • Recruit and retain a diverse, highly skilled, and motivated law enforcement work force by expanding our internship program and partnering with schools for their recruitment events. • On a daily basis strive to increase public confidence and satisfaction with the services provided by the members of the Mundelein Police Department. Ensure service meets the needs of the community. • Develop and utilize technology to streamline services, increase efficiency, and maintain a high level of customer service. • Prepare for the anticipated commercial development within the Village. Ensure that our resources keep up with the service expectations of the community, including streamlining of department personnel to include civilization of job duties. • Continue the open dialog with the schools with the Handle with Care program and assist the school expand the program county wide. Page 27 of 39  PUBLIC WORKS 27 EXPENDITURES BUDGET BUDGET PROJECTED BUDGET (410, 420, 430, 440, 441) 2023 2024 2024 2025 Personnel $2,528,241 $2,501,986 $2,868,704 $2,859,848 Services $838,260 $937,149 $937,149 $1,474,900 Supplies $649,550 $1,068,850 $1,068,850 $1,137,900 Capital $10,950 $19,250 $19,250 $0 TOTAL $4,027,001 $4,527,235 $4,893,953 $5,472,648 Achievements  Maintained construction schedule for all projects and maintained road projects under budget.  Went live with departmental work order/asset management software.  Successfully negotiated new four-year collective bargaining agreement.  Completed the construction of the Morris Station public infrastructure improvements and Old Village Hall Alley rehabilitation.  Completed the following infrastructure projects: 2023 Street Improvement Program, 2023 Pavement Preservation Program, 2024 Street Improvement Program Design.  Coordinated temporary relocation of Mundelein Community Days event to Village Hall Plaza with no major issues. Goals  Close 95.0% service requests within 15 days.  Complete Maintain positive work environment with zero grievances.  Complete LED retrofit of all Village owned streetlights.  East Hawley Street Improvement Phase 1 design tentative approval from IDOT.  Cardinal Square Public Infrastructure.  Complete construction of Courtland Commons Park.  Begin construction of North Lake Street Enhancement Program.  Reduce total insurance claims total and frequency. Page 28 of 39  ROADS – FY2024 28 ACOMPLISHMENTS  ROAD  ROAD RESURFACING RECONSTRUCTION NAME LIMITS APPROXIMAT E LENGTH NAME LIMITS APPROXIMATE LENGTH Arbour Court Wildwood Avenue to 720 Feet Racine Place NW Holcomb Drive to 525 Feet Norton Avenue NE Holcomb Drive Greenwood Maple Avenue to 1,065 Feet Goodwin Place NW Holcomb Drive to 690 Feet Avenue Glendale Place NE Holcomb Drive Wildwood Avenue Maple Avenue to 950 Feet Charlotte Place Jeanette Place to NE 490 Feet Glendale Place Holcomb Drive Oakdale Avenue North Diamond Lake 1,360 Feet Road to Ridge Avenue NE Holcomb Drive Maple Avenue to NW 2,120 Feet Holcomb Drive Ridge Avenue Rays Lane to North 885 Feet Lake Street NW Holcomb Maple Avenue to NE 1,540 Feet Drive Holcomb Drive Crane Avenue South Street to East 210 Feet Terminus Hillside Drive Midlothian Road to 900’ 2,340 Feet South Street Crane Avenue to 200 Feet E of South Pershing Oakdale Avenue Avenue TOTAL 5,390 Feet (1.02 Miles) Alexandria Court Cul-DeSac to Hillside 215 Feet Drive Winstead Place 325 Feet Diamond Pointe Approximate Farnia Court 585 Feet Length Diamond Pointe Drive Pershing Court 410 Feet Fountainview Drive TOTAL 9,240 Feet (1.75 Miles) Walnut Street TOTAL 2,280 Feet Page 29 of 39  ROADS – FY2025 GOALS 29  ROAD RESURFACING  ROAD RECONSTRUCTION NAME LIMITS APPROXIMATE NAME LIMITS APPROXIMATE LENGTH LENGTH Fieldcrest Drive Somerset Lane to IL Route 2,100 FT North Shore Drive W. Hawthorne Blvd. to S. Lake 1,990 FT 83 Street Franklin Street Cul-de sac to Kettering Road 1,800 FT SW Garfield Avenue Woodlawn Drive to Lakeview 860 FT Kettering Road Westfield Way to N. 1,925 FT Drive Terminus SE Garfield Avenue N Terminus to Lakeview Drive 680 FT Somerset Court Cul-de-sac to Somerset Lane 600 FT South Lake Terrace North Shore Drive 770 FT Somerset Lane Tudor Drive to Kettering 4,175 FT Road Mundelein Gardens Various Locations within 7,125 FT Tudor Drive Fieldcrest Drive to Chadwick 1,175 FT Watermain Neighborhood Way **Sunset Lane SW Garfield to east Terminus 200 FT Westfield Way Franklin Street to Somerset 1,785 FT Lane ** Side and Rear Yard 505 South Lake Terrace 200 FT ** Walgreens Alley Hawley Street to E. Hammond 450 FT Street TOTAL 13,560 FT TOTAL 12,275 FT Page 30 of 39  STREET FUNDING 30 $8,000,000 $7,000,000 $6,000,000 FUNDING SOURCES $5,000,000 • Road & Bridge Property $4,000,000 Tax Levy • State Motor Fuel Tax $3,000,000 • State Rebuild Illinois Funds $2,000,000 • Utility Taxes $1,000,000 $0 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Page 31 of 39  PERSONNEL 31 REQUEST  Police Officer (1)  Firefighter (1)  Social Worker (1) – no longer grant funded Page 32 of 39  FUND ACCOUNTING/BUDGETING 32 Governmental accounting / budgeting is different from business accounting. Government accounting / budgeting is distinctive with its use of funds. Certain revenues are restricted to be spent on specific activities. All twenty (20) of the Village’s funds have unique revenues that are required to be spent on the particular purpose of the fund. Page 33 of 39  GENERAL FUND 33 10 YEARS’ REVENUES, EXPENDITURES, AND RESERVES $40,000,000 $35,000,000 $30,000,000 $25,000,000 $20,000,000 $15,000,000 $10,000,000 $5,000,000 $0 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 Actual Actual Actual Actual Actual Actual Actual Projected Projected Budget Expenditures Revenues Reserves The Village Reserve Policy is 4 - 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 6 months of annual 52% 48% 45% 40% 35% 32% 49% 53% 50% 48% expenditures (33-50%). Page 34 of 39  OTHER FUND 34 BALANCES  Road and Bridge Fund – $56K  Motor Fuel Tax Fund – $387K  Illinois Municipal Retirement Fund - $281K  Social Security Fund - $402K  Train Station Parking Fund - ($489K)  911 Surcharge Fund - $60K  Tax Rebate Fund - $18K  Stormwater Management Fund – $73  Equipment Replacement Fund - $587K  Revolving Loans / Grants Fund - $107K  Archer Business Center Fund – ($175K)  Bond Levy Fund – $116K  Grants/ARPA Fund – $2,749K  Water/Sewer Fund - $5,500K Page 35 of 39  WATER / SEWER 35 RATES q Staff proposes a 11% increase ANNUALIZED RATES (PER 750 GALLONS) FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 $7.22 $7.74 $8.34 $8.72 $9.00 $9.24 $9.24 $9.24 $9.50 $10.17 MUNICIPALITY NO WITH 11% q JAWA increased their rates 6% INCREASE INCREASE Per 1,000 Gallons q Rates will remain well below Libertyville $270 surrounding Lake County Grayslake $253 communities’ average of $239 Lake Zurich $253 Vernon Hills $249 q Average bi-monthly bill of 14.4 Wauconda $247 units. Lincolnshire $222 Buffalo Grove $176 Gurnee $167 Mundelein $146 $163 Page 36 of 39  VILLAGE WIDE CONSUMPTION 36 Village-Wide Consumption (Millions of Gallons) 1200 1000 800 600 400 200 0 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Village-Wide Consumption (Millions of Gallons) Page 37 of 39  NEXT STEPS 37  Come back with revisions at a second Finance Committee meeting at 6:00 PM on March 25th?  Pass the budget at the April 8th board meeting as is? Page 38 of 39 38 QUESTION AND ANSWER Page 39 of 39