Title
FY2008 Partial Special Census
History
The Village has received its Memorandum of Understanding from the US Census Bureau providing the cost of a partial special census. The total cost estimate is $94,181 based on an additional population estimate of 3,220 persons. The total time needed to complete the special census and provide certified data is approximately 6 - 7 months from the time the Bureau receives the Village’s signed Memorandum of Understanding and partial payment of $63,524. We estimate that the Village will realize additional income, use and motor fuel tax revenues of approximately $427,000 annually once the new population is certified and reported to the Illinois Secretary of State.
Financial Impact
The Village’s per capita based revenues include state income tax, motor fuel tax and state use tax. Based upon an increase in population of 3,220 and the current per capita rates, the Village’s state income tax revenues will increase by approximately $290,000, motor fuel tax revenues by approximately $93,000 and state use tax revenues by approximately $44,000. These increases were factored into the FY2008 revenue budget.
The FY2008 budget includes $100,000 for a partial special census.
Recommended Action/Motion
I move to authorize the completion of a partial special census in FY2008 at an estimated cost of $94,181
And
To authorize the Acting Village Manager to execute the Memorandum of Understanding.