Title
FY2025 Budget Amendment #1
History
The following summary explains the rationale for the requested budget amendment for capital improvements and special events.
Cook County Reimbursable Projects
During the planning for the 2025 budget, two projects were pushed off to 2026. These two projects are referred to as the 82nd Avenue Ditch Drainage Improvements, and the Wolf and 139th Street Ditch Drainage Improvements. However, Cook County now has funds available for these projects for immediate reimbursement in 2025. The budget amendment calls for additional expenditures for a combined total of $500,000 for the 82nd Avenue project (which will be presented to the Board on 4/21/25) and the 139th Street project. Cook County will reimburse the Village as the projects move toward completion. The Village will receive a $175,000 reimbursement for the 82nd Avenue project and $255,000 for the 139th Street project.
Centennial Park West Concerts
A $26,175 amendment is needed to contract for camera equipment and operation services for the 4th of July, Taste of Orland Park, two CPW Presents event dates and Centennial Park West Concert Series and for audio production services for the July 17 and 24 Centennial Park West Presents concerts.
The cameras will provide live feeds to the new and previously budgeted video screens that are being installed on the Centennial Park West stage. Audio services for July 17 and 24 are necessary to meet the production needs of bands performing. The actual cost to provide this service is greater than anticipated and budgeted.
A budget amendment of $155,975 is also requested for Artist performance fees and production requirements that exceed budgeted expenses dictated by Artists and Artist riders, as well as an increase in site amenities (e.g. porta-potties, alcoholic beverages for resale) for an anticipated increase in attendance due to the caliber of Artists performing at the Concert Series.
Future Budget Amendment
Several 2024 approved projects were anticipated to be completed during 2024 but were delayed for various reasons. Finance is working with departments to reconcile the remaining balances for each delayed project. Once an evaluation is complete, another amendment to the 2025 budget will be presented to encumber funds from FY2024.
Financial Impact
The attached spreadsheet identifies the budget impact.
Recommended Action/Motion
I move to approve Amendment #1 to the 2025 Budget, which increases Capital Improvement Fund revenues by $430,000, increases Capital Improvement Fund expenditures by $500,000, and increases General Fund expenditures by $182,150.