Title
FY2024 Budget Amendment #2
History
A detailed spreadsheet (by fund) reflecting budget adjustments is attached.
Budget Transfer
As we approach the end of 2024, a few line items require adjustments. The current General Fund budget contains an expenditure line item for contingency in the amount of $500,000. Finance recommends using the entire $500,000 contingency to cover operational expenses in excess of the approved budget within the General, Capital, and Insurance Funds. These expenditure items include legal services, special events, Taste of Orland, additional funds for SAFEbuilt inspectors, and other increases in the scope of capital projects. The remainder of the contingency budgeted would be applied to the Insurance Fund toward the acquisition of property at 11112 139th Street, Orland Park, IL 60462.
• Taste of Orland -General Fund
Additional expenses include shuttle buses to/from remote parking lot and ADA accommodations, bag check staff, additional rental needs including increased portable restrooms and cleaning service expenses. Recreation and Parks is requesting $21,500.
• Special Events -General Fund
Requested adjustment of $35,821 would support special events expenditures, such as the purchase of 4 additional weapons detector units, bag check staff, shuttle bus and additional restrooms.
• SAFEbuilt Inspectors-General Fund
Due to a May 2024 hailstorm, building permit activity to-date has more than doubled 2023 permits. Issued permits have resulted in roof replacements, and now requests for inspections. The $100,000 budget for 2024 will not cover inspection costs, which is estimated 40 inspections per day. Staff estimates additional inspection costs for October, November, and December will be $17,510. Factoring an estimated 10% contingency, staff is requesting an increase of $19,500. This resulting in a total line budget of $119,500 for this service. Finance is requesting to transfer funds from General Fund Contingency budget to cover this expense increase.
• Legal Services-General Fund
During 2024, the Village engaged in several collective bargaining negotiations and addressed other legal issues. Finance is requesting a $90,000 increase to cover expenditures associated with legal services.
• Doogan Park A/E Services-Capital Improvement Fund
Proposals for the development of design documents are greater than anticipated. Recreation and Parks is requesting $95,490. Finance is requesting to transfer funds from General Fund Contingency budget to cover this expense increase.
• Schussler Park Phase I and II Construction Engineering-Capital Improvement Fund
Schussler Park Phase I engineering services were above the original scope of work at the Village’s request, and phase II A/E services for the restroom/storage building. Recreation and Parks is requesting $24,800. Finance is requesting to transfer funds from General Fund Contingency budget to cover this expense increase.
• Schussler Park Restroom Storage Building-Capital Improvement Fund
Installation of restroom/storage building by V3 at Schussler Park. Cost of installation was higher than expected. Recreation and Parks is requesting $23,861. Finance is requesting to transfer funds from General Fund Contingency budget to cover this expense increase.
• Vrdolyak Property Acquisition-Insurance Fund
The Village purchased two parcels (27-05-102-006-0000 and 27-05-102-007-000 at 11112 139th Street, Orland Park, IL 60462) for $850,000. To fund this expense, Finance recommends utilizing a portion of the General Fund contingency of $189,028 and the remaining balance be funded by the Insurance Fund balance.
Financial Impact
The attached spreadsheet identifies the budget impact.
Recommended Action/Motion
I move to approve a budget transfer from General Fund contingency to operational expenses within the General Fund of $166,821.00, a budget transfer from General Fund contingency to the Capital Fund in the amount of $144,151.00, a budget transfer from General Fund contingency funds to the Insurance Fund of $189,028, and a budget amendment for an expense increase to the Insurance Fund of $660,972.00.