G-500 - 01/26/1993 - BUDGET - Ordinances }
F ORDINANCE G- 500
AN ORDINANCE AMENDING SECTION 2-1 OF THE
CODE OF ORDINANCES OF THE
VILLAGE OF OAK BROOK, ILLINOIS
WHEREAS, the Village of Oak Brook wishes to change its fiscal year
to coincide with the calendar year; and
WHEREAS, the Village of Oak Brook wishes to adopt the Municipal
Budget Act, being Sections 5/8-2-9.1 'through and including Section 5/8-
2-9.10 of Chapter 65 of the Illinois Compiled Statutes, as the budget
system more truly reflects anticipated revenues and expenditures than
the annual appropriation system now in effect; and
WHEREAS, the budget system is more in keeping with modern accounting
principles than the appropriation system; and
WHEREAS, the Village of Oak Brook wishes to replace the
appropriation system with the budget system as of May 1, 1993; and
WHEREAS, the Village of Oak Brook wishes to establish an eight-month
fiscal reporting period commencing May 1, 1993 and ending December 31,
1993, before switching to a fiscal year which coincides with the
calendar year; and
WHEREAS, not less than two-thirds of the Corporate Authorities of
the Village of Oak Brook must adopt this ordinance for it to be
effective; and
WHEREAS, it is in the best interests of the Village of Oak Brook
that this Ordinance be passed,
NOW, THEREFORE, BE IT ORDAINED by the President and Corporate
Authorities of the Village of Oak Brook, Du Page and Cook Counties,
Illinois, that Section 2-1 of the Code of Ordinances of the Village of
Oak Brook is amended as follows:
"Section 2-1. Adoption of Budget Law - Appointment of Budget
Officer.
The Village adopts Sections 5/8-2-9.1 through and including Section
5/8-2-9.10 of Chapter 65 of the Illinois Compiled Statutes, 1992,
(the "Municipal Budget Act") providing for an Annual Municipal
Budget in lieu of the passage of an Annual Appropriation Ordinance,
in accordance with the following provisions:
(1) Fiscal Year: An initial fiscal reporting period shall commence
on May 1, 1993 and close on December 31, 1993. Thereafter,
the fiscal year of the Village shall commence on January 1 of
each year and close on the last day of December of each year.
(2) Passage of Annual Budget: The annual budget shall be adopted by
the Corporate Authorities before May 1, 1993 and thereafter
before the beginning of the fiscal year to which it applies.
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Ordinance G- 500
Amending Section 2-1
Adoption of Budget Law
Page 2
Passage of the annual budget shall be in lieu of passage of
the appropriation ordinance heretofore annually enacted. The
annual budget shall be published in the manner provided in
subsection (7) below.
(3) Budget Officer: There is hereby created the office of Budget
Officer who shall be appointed by the Village President, with
the approval of the Corporate Authorities, and shall take the
oath and post the bond as required in Section 5/3-14-3 of
Chapter 65 of the Illinois Compiled Statutes. Such budget
officer shall serve at the pleasure of the Village President,
and shall have the powers and duties set forth in Section 5/8-
2-9.2 and 5/8-2-9.3 of Chapter 65 of the Illinois Compiled
Statutes, as the same may be amended from time to time. The
passage of the annual budget, any revisions thereof, and all
other matters relating thereto shall comply with the
provisions of the Municipal Budget Act.
(4) Compilation and Contents of Budget: On or before October 1 of
each year, the Budget Officer shall submit to the Corporate
Authorities an annual municipal budget, such budget to contain
estimates of revenues available to the municipality for the
fiscal year for which the budget is drafted, together with
recommended expenditures for the municipality and all of the
municipality's departments, commissions and boards. Revenue
estimates and expenditure recommendations shall be presented
in a manner which is in conformity with good fiscal management
practice and the Municipal Budget Act. Each budget shall
contain actual or estimated revenues and expenditures for the
two years immediately preceding the fiscal year for which the
budget is prepared. Each budget shall show the specific fund
from which each anticipated expenditure shall be made.
(5) Funds for Contingency Purposes: The annual budget may contain
money set aside for contingency purposes not to exceed ten
percent (10x) of the total budget.
(6) Revisions to Budget and Delegation of Authority: The Corporate
Authorities may delegate authority to heads of municipal
departments, boards or commissions to delete, add to, or
change items previously budgeted to the department, board or
commission, subject to such limitation or requirement for
prior approval by the Budget Officer as the Corporate
Authorities, upon a two-thirds vote of the Corporate
Authorities, then "holding office, may establish. By a vote of
two-thirds of the members of the' Corporate Authorities then
holding office, the annual budget may be revised by deleting,
adding to, changing or creating sub-classes within the object
classes and object classes themselves. No revision of the
budget shall be made increasing the budget in the event funds
are not available to effectuate the purpose of the revision.
(7) Public Hearing, Notice and .Inspection of Budget: At least one
public hearing shall be held by the Corporate Authorities on
the tentative annual budget prior to final action by the
Ordinance G- 500
Amending Section 2-1
• Adoption of Budget Law
Page 3
Corporate Authorities. Notice of this hearing shall be given
by publication in a newspaper having a general circulation in
the Village at least ten (10) days prior to the time of the
public hearing. Copies of the tentative annual budget shall
be made available for public inspection in printed or
typewritten form in the office of the Village Clerk for at
least ten (10) days prior to the hearing. After said hearing,
the tentative budget may be further revised and passed without
further notice, inspection or hearing.
This ordinance shall be in full force and effect from and after its
passage by two-thirds of the Corporate Authorities and its approval and
publication as required by law, provided, however, that the fiscal year
which commenced on May 1, 1992 and ends on April 30, 1993 shall be
subject to the Appropriation Ordinance passed on July 28, 1992.
The Village Clerk is hereby authorized and directed to publish this
ordinance in pamphlet form in the manner provided by law.
PASSED THIS 26th day of January , 1993.
Ayes: Trustees Bartecki, Mayer, Payovich, Shumate, Skinner and Winters
Nays: None
Absent: None
Abstain: None
APPROVED THIS 26th day of January , 1993.
Gy
Vil age President
ATTEST:
Vill ge Clerk
Appro, ed as to Form:
Village Attorney
Published 1-27-91 Pamphlet fnrm
Date Paper
Not Published