S-1447 - 12/08/2015 - BUDGET - Ordinances ORDINANCE 2015-BU-EX-S-1447
AN ORDINANCE ADOPTING THE BUDGET OF THE
VILLAGE OF OAK BROOK FOR 2016
BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF
OAK BROOK, DU PAGE AND COOK COUNTIES, ILLINOIS as follows:
Section 1: Findings:
The President and Board of Trustees find that the tentative annual budget of the Village of Oak
Brook for 2016 has been conveniently available to public inspection for at least ten (10) days prior to its
passage in pamphlet form as prescribed by the corporate authorities. A public hearing has been held
prior to final action on the budget, notice of which hearing was given by publication in a newspaper having
general circulation in the Village of Oak Brook, said notice having been published at least one week prior
to the time of hearing. The hearing on the budget was held not less than one week after the tentative
annual budget was published, by placing it on file with the Village Clerk for public inspection.
Section 2: The sums set forth for the purposes indicated in the 2016 Municipal Budget of the
Village of Oak Brook attached hereto and made a part hereof are hereby budgeted to pay all necessary
expenses and liabilities of the Village of Oak Brook for the fiscal period beginning January 1, 2016 and
ending December 31, 2016.
Section 3: The Village of Oak Brook hereby approves and adopts the 2016 Municipal Budget as
attached hereto.
Section 4: In case of a vacancy in any office specified in this Ordinance, the Appointing Authority
shall not be required to fill such office, if, in his or her judgment or discretion, there is no necessity
therefore.
Section 5: The 2016 Municipal Budget may be amended as provided by law.
Section 6: This ordinance shall be in full force and effect from and after passage and approval
pursuant to law.
APPROVED THIS 8th day of December, 2015.
r .
Gopal G. Lalmalani
Village President
PASSED THIS 8th day of December, 2015.
Ayes: Trustees Baar, Moy, Tiesenga, Yusuf
Nays: Trustees Adler, Manzo
Absent: None
Ordinance 2015-BU-EX-S-1447
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EXHIBIT A
VILLAGE OF OAK BROOK,ILLINOIS
Budget Summaries
Cash and Investments Analysis
Fiscal year 2016
Projected Budgeted Budgeted 2016 Projected
Cash Balance Revenues Expenditures Changein Cash Balance
12/31/2015 2016 2016 Cash 12/31/2016
General Fund $ 12,797,323 $ 23,096,655 $ 23,084,990 $ 11,665 $ 12,808,988
Special Revenue Funds
Hotel/Motel Tax 4,238,950 1,735,100 1,950,225 (215,125) 4,023,825
Motor Fuel Tax 1,027,603 2,500 950,000 (947,500) 80,103
Capital Project Funds
Infrastructure Fund 4,093,501 7,005,035 7,894,265 (889,230) 3,204,271
Promenade Tax Increment Financing 227,247 427,015 433,800 (6,785) 220,462
Enterprise Funds
Water Works System 1,145,982 8,368,500 7,860,985 507,515 1,653,497
Sports Core 206,040 3,414,165 3,376,745 37,420 243,460
Internal Service Funds
Garage 129,898 700,060 804,795 (104,735) 25,163
Self Insurance 486,260 2,991,035 2,977,500 13,535 499,795
Capital Replacement 2,087,947 655,595 1,459,820 (804,225) 1,283,722
TOTAL ALL FUNDS $ 26,440,751 $ 48,395,660 $ 50,793,125 $ (2,397,465) $ 24,043,286