2014-2018 Five Year PlanVILLAGE OF OAK BROOK
2014-2018
FIVE-YEAR FINANCIAL PLAN
TABLE OF CONTENTS
SECTION
PAGE
Introduction
2
General Assumptions
2
Relationship to the Annual Budget
3
General Corporate Fund
5
Hotel/Motel Tax Fund
17
Motor Fuel Tax Fund
22
Foreign Fire Insurance Tax Fund
26
Infrastructure Fund
30
Promenade Special Tax Allocation Fund
35
Water Fund
39
Sports Core Fund
44
Self -Insurance Fund
58
Garage Fund
62
Equipment Replacement Fund
66
Police and Firefighters' Pension Funds
70
VILLAGE OF OAK BROOK
2014-2018
FIVE-YEAR FINANCIAL PLAN
INTRODUCTION
The Village of Oak Brook Five -Year Financial Plan is intended to provide the community with a long-range projection of the financial
condition for each of the thirteen fiends that comprise the financial structure of the Village of Oak Brook. The Five -Year Plan assumes the
continuation of current service levels and being able to maintain those levels in future years. The forecast provides a foundation for
discussion and policy decisions that will be made in the future to maintain the existing service levels and/or enhance service levels in specific
areas.
Each fund in the Village's financial structure is a separate financial entity. Although the Village's audited financial statements are prepared
on an accrual or modified accrual basis (as applicable and consistent with generally accepted accounting principles as promulgated by the
Govermnental Accounting Standards Board), the Five -Year Financial Plan, like the annual Municipal Budget, is prepared and presented on a
cash basis. This results in a more easily understood and more useful document.
The presentation for each fund includes a summary, revenue projections, a general long-range operating budget and a capital improvement
program, if applicable. The Capital Improvements Program focuses on all vehicles and all capital items that are over $5,000. The summary
for each fund reflects the revenue and expenditure projections and presents a rolling five-year operating statement, beginning with cash
available as of January 1, 2013 as reported in the audited financial statements as of December 31, 2012.
GENERAL ASSUMPTIONS
The principal assumptions for the Five -Year Financial Plan involve the rates for general inflation, "personnel inflation" (direct personnel costs
as well as costs of fi•inge benefits and training), interest rates, and the rate of growth in sales tax, the principal revenue source of the Village.
The 2014-2018 Five -Year Financial Plan is based on the following general assumptions:
• Inflation is the measure of the increase in the cost of goods and services. Inflation is measured by the Consumer Price Index and
impacts most expenditure categories. For the purpose of this report, inflation for the purchase of goods and services and operational
and contractual services are forecasted at 2.5%.
• Personnel inflation, (including benefits, training and merit adjustments applicable to personnel not at top -of -grade) are factored at
4.5% per year.
VILLAGE OF OAK BROOK
2014-2018
FIVE-YEAR FINANCIAL PLAN
• Interest earnings on invested funds at rates ranging from less than .2% to 6.75%, depending upon the fund, the type and length of
investment.
• Sales tax receipts for 2014 are projected to increase 2% from the 2013 estimated cash collections. For each year thereafter the sales tax
receipts are projected to increase 3%. Receipts from the non -home rule sales tax, are projected using the same assumptions as the
growth in general sales tax receipts.
In years 2014-2018, the long-range operating budget projections are adjusted by an experience factor intended to take into account normal
positive variances in expenditures across the thousands of accounts that make up the Village's financial structure and to partially offset the
effects of compounding of the inflation assumptions in the later years. Other assumptions specific to particular funds are described in the
narrative preceding the presentation of each fund.
RELATIONSHIP TO THE ANNUAL BUDGET
For 2014, staff has prepared the 2014-2018 Five -Year Plan, 2014 Budget, and 2014 Program Objectives concurrently. This is done in order to
streamline the budget process by reducing the amount of time spent overall by staff and the Village Board on budget -related activities.
The 2014 Budget and 2014-2018 continues the Village Board directive that staff should prioritize items for inclusion in the 2014 budget and
Five -Year Financial Plan using the following hierarchy:
• Projects or expenditures necessary to maintain or replace critical equipment, projects already started yet not completed, projects that
are the recipient of grant funding, and items required to comply with Illinois and Federal law.
• Projects or expenditures that will directly contribute to increased revenues from sales tax, utility and telecommunications taxes, and
Hotel/Motel taxes.
• Projects or expenditures that will significantly increase the efficiency of Village operations.
• Projects or expenditures that will significantly improve the safety, convenience, or quality of life for residents, non-residents, and
businesses.
• Projects or expenditures that will improve the aesthetics of the Village.
• Discretionary projects or expenditures that add new services or amenities.
3
VILLAGE OF OAK BROOK
2014-2018
FIVE-YEAR FINANCIAL PLAN
The actual 2014 Municipal Budget is provided in a separate document; whereas, the Five -Year Financial Plan is structured by Fund, the
operating budget is structured according to cost centers (called "programs") and is presented at a level of detail far beyond that reflected in the
Five -Year Plan. The capital improvement budget is based on the capital improvement program for the first year of the Five -Year Plan.
At the fund level in the Budget document, revenue budgets are brought together with operating and capital improvement expenditure budgets
to present a cash -basis income statement for each fund (called a "Fund Summary"). The Fund Summary can be compared to the first year of
the relevant Five -Year Financial Plan Summary to ensure that the Budget matches the first year of the Five -Year Plan for that fund.
4
VILLAGE OF OAK BROOK
2014-2018
FIVE-YEAR FINANCIAL PLAN
GENERAL CORPORATE FUND
DESCRIPTION:
The General Corporate Fund is the main operating fund of the Village which provides core services for its operations of the major Village
departments such as Police, Fire Protection, Library and many other administrative departments. Capital improvements, contributions to
pension funds (in lieu of property tax levies), transfers to the Garage and Equipment Replacement Funds (through user charges), and loans to
other funds as appropriate are all included in the General Fund.
OVERVIEW:
The Village's budget methodology is to estimate revenues conservatively and to maintain a spending level less than or equal to current year
resources. The General Corporate Fund is presented whereas the expenditures exceed revenues and the cash reserves are utilized. General
Fund Revenues have increased for the 2014 budget, by $1,121,985, or 5.5% more than the 2013 budgeted revenues. General Fund expenses
have increased by $2.3 million, or 11.5% compared to 2013 budgeted expenses. The following highlights some of the major budget issues
facing the Village for 2014:
• With sales tax being one of the major sources of revenues the Village has which supports our core services including police and fire
protection, we are starting to see it increase. The Village has seen some increases in other revenue sources this year, particularly in
permit fees, which is why for 2014 there is an increase in certain revenues.
• Effective January 1, 2011, the State of Illinois passed legislation that increased the individual income tax rate from 3% to 5% and the
corporate rate from 4.8% to 7%. However, the legislation did not provide municipalities with any additional share of the increased
taxes. According to the IML (Illinois Municipal League), the actual income tax receipts distributed to municipalities in Fiscal Year
2013 (May 1 to April 30) was $90.12 per person, or 10.7% higher than in FY 2012. The IML is estimating for FY 2014 to be $95.40
per person, or 5.9% higher than in FY 2013. For 2013, income tax revenues are projected at $95.40 per person for calendar year
January — December 2014 as a means of being conservative in this economic environment.
9
VILLAGE OF OAK BROOD
2014-2018
FIVE-YEAR FINANCIAL PLAN
• Utility tax revenues are comprised of telecommunications, gas and electricity. Telecommunications tax revenues are based on a 6%
tax on gross charges for communication services. The gas and electricity are based on the usage which fluctuate with weather
conditions and consumer usage. For 2014, the utility tax revenues are projected to be $4.95 million, an increase of .8%.
• With the recent changes in pension legislation, which allows municipalities until 2040 to fund 90% of their pension obligations there
is some relief extended to municipalities. However, additional measures are necessary to ensure the Village can meet its future
pension obligations. For 2015 and thereafter, Police and Firefighters' Pension Fund contributions are projected to increase slightly
due to a turnaround in the market returns; the actual amount will not be determined until an actuarial study is completed in early 2014
and could change depending on the investment markets for the remainder of the year as well as possible changes in actuarial
assumptions. In 2013, the Village updated the mortality table from UP 1984 to RP2000 in its actuarial valuations.
• The General Fund Capital Improvement plan includes utilizing $665,090 cash reserves due to certain projects being prolonged in prior
years due to budget constraints.
• The General Fund includes utilizing $495,880 as a Sports Core subsidy in 2014 and $200,000 in years 2015 — 2018.
The Village's 2014 — 2018 Five -Year Financial Plan represents the current conditions and future viability of the Village's finances. The
overall objective of this plan is to provide analytical information for key budgetary decisions that will allow the Village to accomplish its
goals over the next five-year period and beyond.
RouoniiP-
The principal source of revenue to the General Corporate Fund, and to the Village, is the sales tax. As a result, the rate of growth in sales tax
receipts determines, to a significant extent, the Village's ability to meet the needs of the community and its overall financial condition. It has
been the practice of the Village to project growth in sales tax receipts conservatively, and that practice is continued in this edition of the Five -
Year Financial Plan (See GENERAL ASSUMPTIONS). For 2013, sales tax revenue is projected to be $11,835,000, which is an increase by
2% of 2013 estimated collections. The 2014 budgeted sales tax is predicated on the following factors: Oakbrook Center mall, which is one of
the Village's largest tax payers, has had significant renovations which will be completed in late 2013. Bloomingdale's space is being re-
divided in order for Tommy Bahama, Hugo Boss, Container Store and Fixtures Living to go in along with a couple of other smaller retailers.
Apple will be taking a new space near the large fountain in close proximity to Macy's and will be approximately two times the size of the
current space. The new/expanded Apple Store should be open in mid December 2013. There will be two new restaurants in Neiman Marcus,
a newly renovated Nordstroms, and Tesla will be having cars delivered in 2014.
9
VILLAGE OF OAK BROOK
2014-2018
FIVE-YEAR FINANCIAL PLAN
Receipts from the utility tax on electric, natural gas, and telecommunications service are expected to end the year at $4.9 million slightly
under $10,000 compared to the 2013 budget. Utility tax collections for 2014 are budgeted to increase by $40,000 or .8% from the 2013
estimated amount. Inflationary increases of 3% have been assumed in subsequent years 2015 - 2018.
State shared revenues in total are projected using information provided by the Illinois Municipal League and for 2014 are projected to increase
by 9.2%. The State Income Tax is expecting to increase by 13.9% than in FY 2013, Use tax is expected to increase by 4.8% than in FY 2013
and Replacement Tax is expecting to remain flat. State shared revenues are projected to increase by 3% in years 2015 — 2018. The rates
imposed for a number of license and fee categories, such as electrical permits, building/inspection fees and building permits are projected to
increase and should positively impact revenues. Investment returns can significantly fluctuate depending on market conditions, therefore,
interest revenue is projected at $50,000 for 20I4. Most other revenue sources are projected to increase from 0% to 3% per year for the
duration of the Five -Year Financial Plan.
Operations:
Legislative and General Management. This department involves a wide variety of general -scope functions including the operations of the
Village Board and the offices of the Village Clerk, Village Manager and Village Attorney. The General Management program includes an
increase in part time salaries for an intern of $15,000 that will assist the Village with the new residential marketing plan, Baldrige process
improvement issues, and other special projects. This budget also includes $5,000 for Baldrige training and related expenditures. The Human
Resources budget includes customer service program for employees, $I5,000, compensation survey for $5,000, and $10,000 increase for
Police and Fire testing due to two promotional tests expected to be administered in 2014. A new program was created for Communication
and Marketing totaling $85,900. This program includes a part time intern, consulting fees, initial first year advertising fees for the residential
marketing program and other related expenses.
Information Technology budget increased by $64,000 due to maintenance on computers and hardware. The Transportation program includes
consulting expenses for the distributor grant program which will be offset by grant revenues received. The Economic Development prograrn
includes the annual $70,000 Chamber of Commerce partnership grant. There are no other significant changes projected in the operating
budgets of this department, beyond application of the inflation assumptions.
Financial Services. Financial Management reflects an increase in actuarial fees of $11,900 due to possibly changing actuarial firms. Interfund
Transfers includes a transfer to the Sports Core for $495,880 from the General Corporate Fund and $125,000 to Infrastructure for
7
VILLAGE OF OAK BROOK
2014-2018
FIVE-YEAR FINANCIAL PLAN
administrative costs. The Sports Core transfer from the General Corporate Fund accounts for Golf drainage project, $150,000, Polo operating
expenses of $115,475, Capital improvements for $177,500, and $52,905 for operating expenses. There are no other significant changes
projected in the operating budgets of this department, beyond application of the inflation assumptions.
Public Works. Significant changes for this department include Program 335 — Forestry program was increased $103,300, mainly due to Ash
Borer removals and replacements and $20,000 for a consulting arborist pending grant receipt. There are no significant changes projected in
the operating budgets of this department, beyond application of the inflation assumptions.
Library. Library Youth Services includes moving a part time position to full time in order to fulfill the needs of this department. There are no
other significant changes projected in the operating budgets of this department, beyond application of the inflation assumptions.
Police. The Police budget in total is projected to increase by $582,210 from 2013. This is mainly due to full year in DuComm fees, addition
of auxiliary officers and inflationary factors such as salaries, pension costs, health, etc.. Auxiliary Program is newly created to providing
additional police resources for special events and support to traditional police patrol activities. This budget totals $46,360 in salaries and
related expenditures. Police Support Services increased by $131,300. Part time salaries increased due to an increase in records clerics hours to
handle the non -emergency calls. Weekend closure of one police records window will save au estimated $8,000. This program also includes
DuComm Dues for $402,505. Overall, police pension contributions are budgeted to increase $131,220 or 12% compared to the 2013 Budget.
There are no other significant changes projected in the operating budgets of this department, beyond application of the inflation assumptions.
Fire. The Fire Department budget in total is projected to increase by $481,095 or 7.8% from 2013. Program 700 — Fire, Rescue, and EMS
Operations includes an increase in overtime of $44,750 fi•om the 2013 budget due to staffing needs in this department. This program also
includes an increase in vehicle replacement charges of $153,595. Emergency Medical Services includes capital costs of $19,000 for cot
replacement and AED's. Overall, Village fire pension contributions are projected to increase by $90,365, or 9.3% compared to the 2013
Budget. There are no other significant changes projected in the operating budgets of this department, beyond application of the inflation
assumptions.
Community Development. Code Enforcement includes upgrading a current part time position to full time building inspector for $38,320
effective April 1. This budget also includes a part time plan reviewer for $27,989 effective April 1 plus one-time costs for a work station and
training at $5,200. There are no other significant changes in the operating budgets of this department, beyond application of the inflation
assumptions.
VILLAGE OF OAK BROOK
2014-2018
FIVE-YEAR FINANCIAL PLAN
Exceptional Charges:
Exceptional Charges in the General Corporate Fund include:
• Contributions to the Police and Firefighters' Pension Funds (in lieu of property taxes). These contributions are expected to
increase by approximately 3% for the duration of the Five -Year Financial Plan.
• Debt service on installment contract certificates issued to fund a portion ($4 million) of the Municipal Complex Project.
• Vehicle replacement charges are 100% funded in the General Corporate Fund. Prior to 2012, they have been eliminated for 2008,
2009, 2010 as well as 2011 due to General Corporate Fund revenue issues. The Equipment Replacement fund (page 68) factors in
General Fund contributions for years 2015-2018 and will continue to be a healthy fund. If the General Fund does not make
contributions in 2015-2018, then the Equipment Replacement fund would have an estimated five years before it depletes all of its
cash.
• An annual transfer to the Infrastructure Fund in order to offset costs (primarily administrative) funded by the Infrastructure Fund
that relate to General Corporate Fund activities (such as Forestry, Buildings & Grounds, etc.).
Capital Improvements:
Significant capital expenditures reflected in the Plan include continued outlays for maintaining our current technology systems, repairs and
maintenance of Heritage Center, improvements to the fire station 93, reception area remodeling, architect costs related to the police
department, and replacement of fire gear and critical equipment in the fire department. The prioritization of specific projects are reviewed
annually during the budget process and included if the General Corporate Fund has sufficient funds, but projecting them this far in advance is
very difficult.
OTHER CONSIDERATIONS:
It is the financial policy of the Village Board to make every effort to maintain a six month reserve fund for operating expenses. The six month
reserve fund is expected to end 2014 at 6.9 months once all of the budget changes noted here have been fully implemented. Oak Brook's
current philosophy is to always try to keep reserves at or above 6 months even in downtimes. During years when we are in unexpected
difficult economic times or having a significant unplanned expenditure, this excess fund balance could be used to keep the village at or above
the 6 month reserve funding without making drastic cuts in services or personnel to deal with one or two years of financial issues.
9
Unrestricted Cash Available, January 1, 2013
Estimated Income
Less Estimated Operating Expenses
Operating Budget
Exceptional Charges
Estimated Net Operating Income
Add Beginning of Year Cash Balance
Estimated Available Funds
Interfund Loan
Interfund Loan Repayment
Adjusted Cash Available
Less Capital Improvement Program
Unrestricted Cash Available at Year -End
6 Months Operating
$11,573,014
Village of Oak Brook
2014-2018 Five -Year Financial Plan
GENERAL CORPORATE FUND
Summary
2013 Budget 2013 Estimate 2014
2015 2016 2017 2018
$20,204,215 $21,466,735 $21,326,200 $24,992,979 $22,410,857 $22,929,974 $23,459,377
16,656,340
16,453,760
17,662, 875
17,408,564
18,000,820
18,813,844
19,457, 070
2,803,925
3,458,255
3,789,165
3,599,091
3,679,767
3,827,007
3,917,827
743,950
1,554,720
(125,840)
3,985,325
730,270
289,123
84,480
11,573,014
11,573,014
12,519,034
11,366,914
11,381,439
11,439,209
11,288,332
12,316,964
13,127,734
12,393,194
15,352,239
12,111,709
11,728,332
11,372,812
0
0
0
0
0
0
0
0
0
0
0
0
0
0
12,316,964
13,127,734
12,393,194
15,352,239
12,111,709
11,728,332
11,372,812
701,300
608,700
1,026,280
3,970,800
672,500
440,000
347,500
$11,615,664
$I2,519,034
$11,366,914
$11,381,439
$11,439,209
$11,288,332
$11,025,312
$9,244,485
$9,244,485
$9,859,895
$9,913,496
$10,256,919
$10,715,835
$11,086,770
10
Village of Oak Brook
2014-2018 Five -Year Financial Plan
GENERAL CORPORATE FUND
Revenue Projections
Total Licenses and Permits
952,425 1,549,185 1,083,000 1,083,000 1,083,000 1,083,000 I,083,000
11
2013
2013
Description
Budget
Estimate
2014
2015
2016
2017
2018
General Sales Tax
10,900,000
11,600,000
11,835,000
12,190,050
12,555,752
12,932,424
13,320,397
State Income Tax
660,000
792,100
752,000
767,040
782,381
798,028
813,989
Replacement Tax
285,000
285,000
285,000
290,700
296,514
302,444
308,493
York Township Road and Bridge Tax
40,000
13,650
7,570
7,570
7,570
7,570
7,570
State Income Tax -Use Tax
126,000
128,000
132,000
133,900
137,917
142,055
146,316
Charitable Games Tax
1,000
500
500
500
500
500
500
Grants
111,420
44,620
105,150
10,000
10,000
10,000
10,000
Telecommunications Tax/Utility
4,910,000
4,900,000
4,950,000
5,009,600
5,059,700
5,110,300
5,161,400
Total Intergovernmental
17,033,420
17,763,870
18,067,220
18,409,360
18,850,333
19,303,321
19,768,665
Liquor License
140,000
140,000
140,000
140,000
140,000
140,000
140,000
Scavenger Licenses
8,000
8,000
8,000
8,000
8,000
8,000
8,000
Taxi Licenses
29,000
35,000
35,000
35,000
35,000
35,000
35,000
Tobacco License
1,700
1,700
1,700
1,700
1,700
1,700
1,700
Raffle Licenses
325
400
400
400
400
400
400
Building Permits
335,000
800,000
450,000
450,000
450,000
450,000
450,000
Electrical Pen -nits
200,000
300,000
225,000
225,000
225,000
225,000
225,000
PIumbing Permits
22,000
50,000
30,000
30,000
30,000
30,000
30,000
Alarm Application Fee
55,000
29,185
28,000
28,000
28,000
28,000
28,000
Annual Alarm Permit Fee
I50
150
150
150
150
150
150
Accessory Structure Permits
23,000
25,000
24,000
24,000
24,000
24,000
24,000
HVAC Permits
47,500
75,000
50,000
50,000
50,000
50,000
50,000
Demolition Permits
15,000
9,000
15,000
15,000
15,000
15,000
15,000
Application/Occupancy Fees
45,000
45,000
45,000
45,000
45,000
45,000
45,000
Miscellaneous Licenses & Permits
30,000
30,000
30,000
30,000
30,000
30,000
30,000
Solicitation Permits
750
750
750
750
750
750
750
Total Licenses and Permits
952,425 1,549,185 1,083,000 1,083,000 1,083,000 1,083,000 I,083,000
11
Village of Oak Brook
2014-2018 Five -Year Financial Plan
GENERAL CORPORATE FUND
Revenue Projections
12
2013
2013
Description
Budget
Estimate
2014
2015
2016
2017
2018
Elevator Inspections
95,000
95,000
95,000
97,850
100,786
103,809
106,923
Zoning/Subdivision Appl. Fees
11,000
11,000
11,000
11,000
11,000
11,000
11,000
Plan Review Fees
40,000
52,000
50,000
50,000
50,000
50,000
50,000
Building(Inspection Fees
165,000
185,000
175,000
175,000
175,000
175,000
175,000
Ambulance Fees
570,000
582,000
576,000
593,280
611,078
629,411
648,293
Toll Road Fire Service
40,000
35,100
36,000
37,080
38,192
39,338
40,518
Special Services -EMS
18,000
8,000
18,000
18,900
19,845
20,837
21,879
Special Services -Fire
4,000
4,000
4,000
4,200
4,410
4,631
4,862
False Alarm -Fire
11,000
8,250
8,750
8,750
8,750
8,750
8,750
Compliance
3,000
12,000
12,000
12,000
12,000
12,000
12,000
Fingerprinting
3,700
4,000
4;000
4,000
4,000
4,000
4,000
Special Services -Police
60,000
13,000
15,000
15,750
16,538
17,364
18,233
Field Services -Police
150
100
150
150
150
150
150
Misc. Support Services -Police
2,000
3,500
3,500
3,500
3,500
3,500
3,500
False Alarm -Police
25,000
25,000
25,000
25,000
25,000
25,000
25,000
Eng. Plan Review & Inspection
10,000
12,000
10,000
10,000
10,000
10,000
10,000
Subdivision Review & Inspection
2,000
500
2,000
2,000
2,000
2,000
2,000
Fire Plan Review Fees
15,000
15,000
15,000
15,000
15,000
15,000
15,000
Library Services
8,000
8,000
8,000
8,000
8,000
8,000
8,000
Bad Debt
(200,000)
(200,000)
(200,000)
(200,000)
(200,000)
(200,000)
(200,000)
Total Charges for Services
882,850
873,450
868,400
891,460
915,249
939,790
965,108
Court Fines
200,000
200,000
200,000
206,000
212,180
218,545
225,102
Village Fines
50,000
25,000
25,000
25,000
25,000
25,000
25,000
Training Reimbursement -Police
2,360
18,570
2,360
2,360
2,360
2,360
2,360
Administrative Towing Fees
80,000
80,000
80,000
84,000
88,200
92,610
97,241
Administrative Fines
12,000
5,000
5,000
5,250
5,513
5,788
6,078
Library Fines
8,000
8,000
8,000
8,000
8,000
8,000
8,000
Bond Proceeds
3,200,000
Interest
30,000
44,000
50,000
113,669
227,629
228,784
225,767
12
Description
2013
Budget
IMF/Franchise Fees
165,000
Rental Income
132,960
Road Maintenance Reimbursement
13,500
Miscellaneous
80,000
Total Other Revenues
773,820
Transfer From Water Fund
408,700
Transfer From Other Funds
153,000
Total interfund Revenues 561,700
Total Revenue 20,204,215
Village of Oak Brook
2014-2018 Five -Year Financial Plan
GENERAL CORPORATE FUND
Revenue Projections
2013
Estimate
2014
2015
165,000
165,000
169,950
132,960
137,375
141,940
15,000
15,000
15,450
25,000
30,000
30,000
718,530
717,735
4,001,619
408,700
370,375
381,486
153,000
219,470
226,054
561,700
589,845
607,540
21,466,735
21,326,200
24,992,979
13
2016
20I7
2018
175,049
180,300
185,709
146,665
151,545
156,590
15,914
16,391
16,883
30,000
30,000
30,000
936,508
959,324
978,728
392,931
404,719
416,860
232,836
239,821
247,015
625,767
644,540
663,876
22,410,857
22,929,974
23,459,377
Personnel
Materials and Supplies
Operations and Contractual
Total Operating Budget
Adjustment for Budget Goal Attainment
Exceptional Charges
Village of Oak Brook
2014-2018 .Five -Year Financial Plan
GENERAL CORPORATE FUND
Long -Range Operating Budget
2013 Budget
2013 Estimate
$12,224,395
$12,129,710
563,045
548,280
3,868,900
3,775,770
$16,656,340
$16,453,760
2014
2015
2016
2017
2018
$13,048,430
$13,723,216
$14,433,192
$15,180,207
$15,966,209
545,605
559,245
573,226
587,557
602,246
4,068,840
4,042,343
4,143,390
4,246,964
4,353,126
$17,662,875
$18,324,804
$19,149,808
$20,014,728
$20,921,581
$17,662,875
$17,408,564
$18,000,820
$18,813,844
$19,457,070
Police Pension Contribution
$1,087,855
$1,153,320
$1,219,075
$1,267,838
$1,318,552
$1,371,294
$1,426,145
Firefighters' Pension Contribution
1,015,975
1,066,840
1,106,340
$1,150,594
$1,196,617
$1,244,482
$1,294,261
Vehicle Replacement Charges
182,995
180,995
446,505
454,297
435,386
577,494
562,620
Transfer to DuComm Building Reserve
102,525
102,525
102,525
102,525
102,525
0
0
Transfer to infrastructure Fund
120,000
120,000
125,000
130,000
135,000
140,000
145,000
Transfer to Sports Core Fund
0
25,000
495,880
200,000
200,000
200,000
200,000
Transfer to Self Insurance Find
0
515,000
0
0
0
0
0
Installment Contract Debt Service
294,575
294,575
293,840
293,838
291,688
293,738
289,800
Total Exceptional Charges
$2,803,925
$3,458,255
$3,789,165
$3,599,091
$3,679,767
$3,827,007
$3,917,827
Capital Improvement Program
(See Schedule)
$701,300
$608,700
$1,026,280
$3,970,800
$672,500
$440,000
$347,500
Total Budget
$20,161,565
$20,520,715
$22,478,320
$24,978,455
$22,353,087
$23,080,851
$23,722,397
14
Village of Oak Brook
2014-2018 Five Year Financial Plan
General Corporate Fund
Capital Improvement Program
2013 2013
Budget Estimate 20I4 2015 2016 2017 2018
Computer Hardware And Software 180,000 180,000 190,000 225,000 240,000 255,000 270,000 1
Municipal Complex:
Undesignated Reairs/safeprojects
15,000
15,000
20,000
15,000
15,000
15,000
15,000
Police Department Architect/Remodelin
100,000
I,700,000
Electrical project
1,500,000
VH/PD firing range bullet trap
85,000
85,000
VH/PD booking ceiling and plumbing
25,000
Village Hall carpet replacement west wing
50,000
Station 94 Patio Door Replacement
6,000
Galvanized Plumbing Replacement
15,000
15,000
15,000
15,000
15,000
15,000
15,000
Lower Level Washroom Improvements
25,000
Village Hall outside beautification
7,500
7,500
7,500
7,500
7,500
7,500
7,500
Reception Area Remodeling
20,000
0
8,500
Station 93/94 office area remodel due to Ducomm
10,000
13,000
Station 94 Reseal apperatice floor
10,000
10,000
Station 94 humidifier
30,000
Ductwork Gleaning
10,000
10,000
10,000
10,000
10,000
10,000
10,000
Recoat North Walkway
17,500
Electric door strikes
5,000
5,000
15,000
15,000
Sprinkler System {North & West side, Heritage Center and west
side by monument
40,000
Station 94 shower improvements
20,000
Painting outside and Bird proofing
15,000
10,000
Station 93 Rear drive replacement
90,000
Carpet replacement
5,000
Bathrooms & Bunkrootn Remodeling
89,000
Fire Station #94 landscaping
Station 93 condenser unit
15,000
5,000
Station 93 HVAC System Replacement
50,000
180,000
Station 93 Apparatus Bay Heating
25,000
Public Works Building:
Recondition/Reseal Garage Floor
25,000
25,000
25,000
15
Village of Oak Brook
2014-2018 Five Year Financial Plan
General Corporate Fund
Capital Improvement Program
2013 2013
Budget Estimate 2014 2015 2016 2017 2018
Other Improvements:
Heritage Center
105,000
125,000
222,000
50,000
70,000 70,000 30,000
Library
Refurbish Exterior Wood Paneling
25,000
Library HVAC computer upgrade
20,000
Electrical Outlets
10,000
10,000
Outdoor Lights (GRANT 14,000)
20,000
Install window shades
14,000
Office Paintin
5,000
5,200
5,000
5,000 5,000
Replace chairs Meeting Room furniture
5,000
5,000
5,000
Carpeting Replacement
50,000
Interior Lighting change out
20,000
20,000 20,000
Police
Police Patrol Rifle Replacement
15,300
Equipment re lacement - Su ort services
2,000
Starcomm radio upgrades
12,680
Speed display board
6,000
5,000
Fire
Fire gear replacement
52,800
12,000
41,600
40,000
Replace cardiac monitors
68,000
100,000
Thermal Imaging Cameras
20,000
Replace AED's
6,000
4,000
4,000
15,000
Glide Scope Intubation Camera
10,000
Mattress Replacement
20,000
Cot Replacement
15,000
Wreathing Apparatus Replacement
85,000
80,000
Total General Corporate Fund
701,300 608,700 1,026,280 3,970,800 672,500
16
440,000 347,500
VILLAGE OF OAK BROOK
2014-2018
FIVE-YEAR FINANCIAL PLAN
HOTEL/MOTEL TAX FUND
DESCRIPTION:
This fund is used to account for funds collected from imposition of the Village's Hotel/Motel Tax. State law requires that for non -home rule
communities this revenue must be devoted to programs and activities designed to increase overnight stays in hotels located within the Village.
For 2006 and prior, most expenditures of funds from the tax were those recommended by the Hotel, Convention and Visitors Committee and
specifically approval of the Village Board. Late in 2006, the Village Board established a Hotel Beautification District designed to improve
and maintain the landscape and hardscape features in the areas served by the hotels also in order to increase overnight stays in hotels located
within the Village. Village Board policy at the present tirne earmarks 1% of the 3% Hotel/Motel Tax rate to funding activities of the Hotel,
Convention and Visitors Committee; the remaining 2% of the 3% rate is dedicated to funding the Hotel Beautification District initiatives.
OVERVIEW:
Revenue:
For 2014, revenues from the 3% Hotel/Motel Tax are projected to be $1,145,000, which is an increase of 38% compared to the 2013 Budget.
This is mainly due to a newly remodeled hotel opening up for business in Spring 2014. For 2015 and thereafter, revenue is projected to
increase 3% per year.
Operations:
For 2014, the projections- reflect expenditures for marketing efforts of the Hotel, Convention and Visitors Committee of $180,000 as well as
payment to the DuPage Convention and Visitors Bureau equal to 20% of the first 1% of the Hotel Tax imposed. The Hotel/Motel program
includes Chamber of Commerce expenditure for $45,000. Thereafter, expenditures increase approximately 3% per year.
Exceptional Char
The Plan reflects an annual transfer to the General Corporate Fund for administrative services of $40,170 from the Hotel, Convention and
Visitors Committee.
17
VILLAGE OF OAK BROOK
2014-2018
FIVE-YEAR FINANCIAL PLAN
Capital Improvement Program
The 2014 Budget includes $335,000 for pedestrian access improvements, which is offset by $203,000 in reimbursements from private
property owners. Entry signage at 22°d and York is budgeted for $85,000. Thereafter, additional outlays of specific projects are budgeted for
improvements and maintenance in the Hotel Beautification District.
18
Unrestricted Cash Available, January 1, 2013
Estimated Income
Less Estimated Operating Expenses
Operating Budget
Exceptional Charges
Estimated Net Operating Income
Add Beginning of Year Cash Balance
Estimated Available Funds
Adjusted Cash Available
Less Capital Improvement Program
Estimated Unrestricted Cash Balance at Year -End
$2,699,121
Village of Oak Brook
2014-2018 Five -Year Financial Plan
HOTEL/MOTEL TAX FUND
Summary
2013 Budget 2013 Estimate 2014 2015 2016 2017 2018
$1,356,000 $1,509,330 $1,355,500 $2,177,639 $1,220,907 $1,254,976 $1,294,251
275,335
285,335
311,635
320,985
330,615
340,535
39,000
39,000
40,170
41,380
42,620
43,900
1,041,665
1,184,995
1,003,695
1,815,274
847,672
870,541
2,699,121
2,699,121
2,909,116
3,429,811
2,058,875
1,267,858
3,740,786
3,884,116
3,912,811
5,245,085
2,906,548
2,138,399
3,740,786
3,884,116
3,912,811
5,245,085
2,906,548
2,138,399
974,000
975,000
483,000
3,186,210
1,638,690
290,550
$2,766,786
$2,909,116
$3,429,811
$2,058,875
$1,267,858
$1,847,849
19
350,755
45,220
898,276
1,847,849
2,746,125
2,746,125
292,515
$2,453,610
Hotel/Motel Tax
Grants
Interest
Total Revenue
Village of Oak Brook
2014-2018 Five -Year Financial Plan
HOTEL/MOTEL TAX FUND
Revenge Projections
2013 Budget
2013 Estimate
2014
2015 2016 2017
$830,000
$980,000
$1,145,000
$I,179,350 $1,214,731 $1,251,172
522,000
522,000
203,000
988,000 0 0
4,000
7,330
7,500
10,289 6,177 3,804
2018
$1,288,708
0
5,544
$1,356,000 $1,509,330 $1,355,500 $2,177,639 $1,220,907 $1,254,976 $1,294,251
20
Village of Oak Brook
2014-2018 Five -Year Financial Plan
HOTEL/MOTEL TAX FUND
Long -Range Operating Budget
21
2013 Budget
2013 Estimate
2014
2015
2016
2017
2018
Operations and Contractual
$275,335
$285,335
$311,635
$320,985
$330,615
$340,535
$350,755
Total Operating Budget
$275,335
$285,335
$311,635
$320,985
$330,615
$340,535
$350,755
Exceptional Charges
Transfer to General Fund
$39,000
$39,000
$40,170
$41,380
$42,620
$43,900
$45,220
Total Exceptional Charges
$39,000
$39,000
$40,170
$41,380
$42,620
$43,900
$45,220
Capital Improvement Program
Hotel Beautification and projects
$974,000
$975,000
$483,000
$3,186,210
$1,638,690
$290,550
$292,515
Total Budget
$1,288,335
$1,299,335
$834,805
$3,548,575
$2,011,925
$674,985
$688,490
21
VILLAGE OF OAK BROOK
201.4-201.8
FIVE-YEAR FINANCIAL PLAN
MOTOR FUEL TAX FUND
DESCRIPTION:
The Motor Fuel Tax (MFT) Fund is used to account for funds distributed to the Village by the State of Illinois pursuant to the MFT
distribution formula. State law limits the use of these funds for specified purposes. This edition of the Five -Year Financial Plan continues the
practice of periodically allocating MFT funds to eligible street resurfacing and reconstruction projects.
OVERVIEW:
Revenue:
The Motor Fuel Tax is levied on a cents -per -gallon basis and is deposited into a segregated fund at the State level. From there, funds are
distributed to local governments on a per -capita basis, according to a formula and based on the last certified census. Revenues for 2014 are
projected at $200,000, which is projected to remain flat from 2013.
Exceptional Charges:
There is a transfer budgeted to the Infrastructure Fund of $700,000 in 2014 and $700,000 in 2017 to supplement the road improvement
program in those years.
22
Unrestricted Cash Available, January 1, 2013
Estimated Income
Less Estimated Operating Expenses
Operating Budget
Exceptional Charges
Estimated Net Operating Income
Add Beginning of Year Cash Balance
Estimated Available Funds
Interrund Loan
Interfund Loan Repayment
Adjusted Cash Available
Less Capital Improvement Program
Estimated Unrestricted Cash Balance at Year -End
Village of Oak Brook
2014-2018 Five -Year Financial Plan
MOTOR FUEL TAX FUND
Summary
2013 Budget 2013 Estimate 2014 2015 2016 2017 2018
$677,377
$201,000 $202,I45 $202,200 $207,145 $213,947 $220,954 $226,073
0
0
0
0
0
0
0
0
0
700,000
0
0
700,000
0
201,000
202,145
(497,800)
207,145
213,947
(479,046)
226,073
677,377
677,377
879,522
381,722
588,867
802,814
323,768
878,377
879,522
381,722
588,867
802,814
323,768
549,841
0
0
0
0
0
0
0
0
0
0
0
0
0
0
878,377
879,522
381,722
588,867
802,814
323,768
549,841
0
0
0
0
0
0
0
$878,377
$879,522
$381,722
$588,867
$802,814
$323,768
$549,841
23
24
Village of Oak Brook
2014-2018 Five -Year Financial Plan
MOTOR FUEL TAX FUND
Revenue Projections
2013 Budget
2013 Estimate 2014
2015
2016
2017 2018
Moto► Fuel Tax Allotments $200,000
$200,000 $200,000
$206,000
$212,180
$218,545 $225,102
Interest 1,000
2,145 2,200
1,145
1,767
2,408 971
Total Revenue $201,000
$202,145 $202,200
$207,145
$213,947
$220,954 $226,073
24
Village of Oak Brook
2014-2018 Five -Year Financial Plan
MOTOR FUEL TAX FUND
Long -Range Operating Budget
2013 Budget 2013 Estimate
Exceptional Charges
Transfer to Infrastructure Fund $0 $0
Total Exceptional Charges $0 $0
25
2014 2015 2016 2017 2018
$700,000 $0 $0 $700,000 $0
$700,000 $0 $0 $700,000 $0
VILLAGE OF OAK BROOK
2014-2018
FIVE-YEAR FINANCIAL PLAN
FOREIGN FIRE INSURANCE TAX FUND
DESCRIPTION:
This fund is used to account for funds collected from imposition of the 2% tax on fire insurance policies written in the Village by insurance
companies not incorporated in the State of Illinois. By law, expenditures from the Fund must be for the maintenance, use and benefit of the
Fire Department. Pursuant to State law, expenditures are directed by a Foreign Fire Insurance Tax Board elected by the members of the Fire
Department. The accounting for this Fund is no longer under the jurisdiction of the Village and in May, 2003 the entire treasury function was
turned over to the Treasurer of the Foreign Fire Insurance Tax Board.
OVERVIEW:
Revenue:
Revenue is projected at $50,000 for 2014 and each year thereafter.
Operations:
Operating expenditures are programmed for uses as determined by the Foreign Fire Insurance Tax Board.
26
Unrestricted Cash Available, January 1, 2013
Estimated income
Less Estimated Operating Expenses
Operating Budget
Exceptional Charges
Estimated Net Operating Income
Add Beginning of Year Cash Balance
Estimated Available Funds
Adjusted Cash Available
Less Capital Improvement Program
Estimated Unrestricted Cash Balance at Year -End
$233,204
Village of Oak Brook
2014-2018 Five -Year Financial Plan
FOREIGN FIRE INSURANCE TAX FUND
Summary
2013 Budget 2013 Estimate 2014 2015 2016 2017 2018
$50,400 $50,100 $50,250 $52,278 $53,860 $55,474 $57,154
39,525
16,865
29,275
30,153
31,058
31,990
32,949
0
0
0
0
0
0
0
10,875
33,235
20,975
22,125
22,802
23,485
24,205
233,204
233,204
263,439
259,414
271,539
279,341
292,826
244,079
266,439
284,414
281,539
294,341
302,826
317,030
244,079
266,439
284,414
281,539
294,341
302,826
317,030
15,000
3,000
25,000
10,000
15,000
10,000
15,000
$229,079
$263,439
$259,414
$271,539
$279,341
$292,826
$302,030
27
Foreign Fire Insurance Tax
Interest
Total Revenue
Village of Oak Brook
2414-2018 Five -Year Financial Plan
FOREIGN FIRE INSURANCE TAX FUND
Revenue Projections
2013 Budget
2013 Estimate
2014
2015
$50,000
$50,000
$50,000
$51,500
400
100
250
778
2016 2017
$53,045
815
$50,400 $50,100 $50,250 $52,278 $53,860
28
2018
$54,636 $56,275
838 878
$55,474 $57,154
Personnel
Materials and Supplies
Operation & Contractual
Total Operating Budget
Capital Improvement Program
Station Enhancements
New Equipment
Total Capital Improvement Program
Total Budget
Village of Oak Brook
20142018 Five -Year Financial Plan
FOREIGN FIRE INSURANCE TAX FUND
Long -Range Operating Budget
2013 Budget
2013 Estimate
2014
2015
2016
$15,000
$2,000
$6,090
$2,000
$2,060
$2,122
31,750
7,000
21,500
22,145
22,809
5,775
3,775
5,775
5,948
6,127
$39,525
$16,865
$29,275
$30,153
$31,058
15,000
3,000
25,000
10,000
15,000
$15,000
$3,000
$25,000
$10,000
$15,000
$54,525
$19,865
$54,275
$40,153
$46,058
29
2017 2018
$2,185
$2,251
23,494
24,198
6,310
6,500
$31,990
$32,949
10,000
15,000
$10,000
$15,000
$41,990
$47,949
VILLAGE OF OAK BROOK
2014-2018
FIVE-YEAR FINANCIAL PLAN
INFRASTRUCTURE FUND
DESCRIPTION:
The Infrastructure Fund was established to separately account for revenues and expenditures related to certain categories of capital projects
including street resurfacing/reconstruction, safety pathways and drainage projects. Due to statutory restrictions on use, beginning in 2005 the
Village's non -home rule sales tax of 0.25% (authorized by referendum in 2004) became the major source of funding for this Fund. In April,
2007 a second referendum was passed and the rate of tax increased to 0.50% effective January I, 2008 (collections began in April, 2008).
Periodic transfers from the Motor Fuel Tax Fund have been made in order to supplement the roadway maintenance program. In 2005 and
after, most operating costs of the Public Works and Engineering Departments have been shifted to this fund.
OVERVIEW:
Revenue from the Village's Non -Home Rule Sales Tax is projected at $5,315,000 for 2014, which represents slightly under .50% from the 1%
municipal sales tax amount. As is the case with the General Sales Tax, 20% of the incremental Non -Horne Rule Sales Taxes generated by the
Promenade Development are required to be deposited in the Promenade Special Tax Allocation Fund. Thereafter, for 2015 — 2018 the
revenues are estimated to grow approximately 3% per year (See GENERAL ASSUMPTIONS). Transfers from the Motor Fuel Tax Fund are
reflected in 2014 and 2017 in order to supplement the roadway maintenance program. Revenue from grants that have been secured are
reflected in this budget. Transfers from the General Corporate Fund are reflected in order to allocate costs (mostly administrative) tbat are
funded by the Infrastructure Fund that relate to activities in these funds.
Operations:
There are no other significant changes beyond application of the inflation assumptions.
Capital Improvements:
The 2014 Road program includes St Paschals Drive/35th Street resurfacing and safety pathway. Commerce Drive will be resurfaced and new
sidewalks installed. A number of roads throughout the Village including: Golf Drive, Coolidge Street, and 35th Street (East of Route IL -83)
will also be resurfaced and bridge decks over Route I-88 and I-294 on York road will also be repaired.
KE
Unrestricted Cash Available, January 1, 2013
Estimated Income
Less Estimated Operating Expenses
Operating Budget
Exceptional Charges
Estimated Net Operating Income
Add Beginning of Year Cash Balance
Estimated Available Funds
Residual Equity Transfer To General Fund
Adjusted Cash Available
Less Capital improvement Program
Estimated Unrestricted Cash Balance at Year-F,nd
$3,376,337
Village of Oak Brook
2014-2018 Five -'Year Financial Plan
INFRASTRUCTURE FUND
Summary
2013 Budget 2013 Estimate
2014 2015 2016 2017
NOV
$5,746,200 $5,987,675 $6,666,275 $5,666,571 $5,833,503 $6,706,672 $6,760,076
2,396,955
2,570,790
2,654,265
2,695,099
2,755,060
2,812,999
2,871,111
205,295
205,295
260,365
269,587
286,702
299,503
311,328
3,143,950
3,211,590
3,751,645
2,701,885
2,791,742
3,594,171
3,577,637
3,376,337
3,376,337
3,347,927
3,995,572
3,532,457
3,301,199
3,822,919
6,520,287
6,587,927
7,099,572
6,697,457
6,324,199
6,895,369
7,400,556
0
0
0
0
0
0
0
6,520,287
6,587,927
7,099,572
6,697,457
6,324,199
6,895,369
7,400,556
3,272,000
3,240,000
3,104,000
3,165,000
3,023,000
3,072,450
3,621,240
$3,248,287
$3,347,927
$3,995,572
$3,532,457
$3,301,199
$3,822,919
$3,779,316
31
32
Village of Oak Brook
2014-2018
Five -Year Financial Plan
INFRASTRUCTURE FUND
Revenue Projections
2013 Budget
2013 Estimate 2014
2015
2016
2017
2018
Non -Home Rule Sales Tax
$5,015,000
$5,210,000 $5,315,000
$5,474,450
$5,638,684
$5,807,844
$5,982,079
Grants
560,000
560,000 454,000
0
0
0
571,240
Interest
10,000
10,000 10,000
19,978
17,662
16,506
19,115
Transfer From Motor Fuel Tax Fund
0
0 700,000
0
0
700,000
0
Transfers From Other Funds
156,200
156,200 162,275
167,143
172,158
177,322
182,642
Miscellaneous
5,000
51,475 25,000
5,000
5,000
5,000
5,000
Total Revenue
$5,746,200
$5,987,675 $6,666,275
$5,666,571
$5,833,503
$6,706,672
$6,760,076
32
Exceptional Charges
Village of Oak Brook
2014-2018 Five -Year Financial Plan
Vehicle Replacement Charges
91,295
91,295
118,365
INFRASTRUCTURE FUND
136,054
144,336
151,506
Transfer to Other Funds
114,000
Long -Range Operating Budget
142,000
146,260
150,648
155,167
159,822
2013 Budget 2013 L;stimate 2014
2015
2016
2017
2018
Personnel
$1;433,495 $1,428,615 $1,506,700
$1,559,730
$1,614,777
$1,671,922
$1,731,251
Materials and Supplies
215,045 150,300 341,320
349,853
358,599
367,564
376,753
Operations and Contractual
748,415 991,875 791,245
811,026
831,302
852,084
873,386
Total Operating Budget
2,396,955 2,570,790 2,654,265
2,807,395
2,900,063
2,992,552
3,087,216
Exceptional Charges
Vehicle Replacement Charges
91,295
91,295
118,365
123,327
136,054
144,336
151,506
Transfer to Other Funds
114,000
114,000
142,000
146,260
150,648
155,167
159,822
Total Exceptional Charges
205,295
205,295
260,365
269,587
286,702
299,503
311,328
Capital Improvement Program
(See Schedule)
3,272,000
3,240,000
3,104,000
3,165,000
3,023,000
3,072,450
3,621,240
Total Budget
$5,874,250
$6,016,085
$6,018,630
$6,129,686
$6,064,761
$6,184,952
$6,803,679
33
Roadway Improvements
Street Resurfacing/Reconstruction
Engineering
Construction
Way finding signage
I-88/22nd Street Bridge Project
615 Hunter - FEMA Buyout
Street Cracksealing
Total
1,700,000
Village of Oak Brook
2014-2018
Five -Year Financial Plan
50,000
INFRASTRUCTURE FUND
Capital Improvement Program
2013 Budget
2013 Estimate 2014
$1,272,000
1,240,000 $3,104,000
332,000
300,000 507,000
940,000
940,000 2,597,000
1,700,000
1,700,000
250,000
250,000
50,000
50,000
$3,272,000
$3,240,000
34
$3,104,000
2015
2016
2017
2018
3,075,000
2,933,000
3,022,450
3,571,240
461,250
439,950
454,000
450,000
2,613,750
2,493,050
2,568,450
3,121,240
40,000
40,000
50,000 50,000 50,000 50,000
3,165,000 3;023,000 $3,072,450 $3,621,240
VILLAGE OF OAK BROOK
2014-2018
FIVE-YEAR FINANCIAL PLAN
PROMENDADE SPECIAL TAX ALLOCATION FUND
DESCRIPTION:
The Promenade Special Tax Allocation Fund was established in 2006 as a result of a redevelopment agreement approved by the Village Board
that provides for Tax Increment Financing (T.I.F.) for certain infrastructure improvements for the Promenade Development. As provided for
in the redevelopment agreement, the Village has issued a limited obligation note of $4.25 million bearing interest at 8%. The note is secured
by 100% of the incremental real estate taxes and 20% of the incremental sales taxes generated by the Promenade Development. The note is
not a general obligation of the Village and the Village's liability is limited to the pledge of incremental revenues previously noted for a period
not to exceed 15 years.
OVERVIEW:
Revenue
Revenues from the incremental real estate tax revenue generated by the development are projected based on the amount received for 2013.
For 2015 and thereafter, real estate tax revenues are projected based on increasing at 3%. Sales tax receipts from the General Fund and
Infrastructure Fund are included based on 20% of the expected General Sales Tax and Non -Home Rule Sales Tax expected to be generated
from the development.
Exceptional Charges
Exceptional charges consist of debt service on the $4.25 million limited obligation notes that were issued in early 2008. The notes provide in
November each year the Village is to notify the holders of the notes as to the amount funds expected to be on hand to fund debt service for the
subsequent year. Based on the amounts projected to be available for the succeed year debt service payments are to scheduled to be applied to
(1) interest on past due interest, (2) current interest, and (3) repayment of principal. For 2014 it is projected that current interest payments will
be made and payments of the principal amount.
35
Village of Oak Brook
2014-2018 Five -Year Financial Plan
PROMENADE SPECIAL TAX ALLOCATION (T.I.F.) FUND
Summary
2013 Budget 2013 Estimate
Unrestricted Cash Available, January 1, 2013 $221,926
2014
2015
2016 2017 2018
Estimated Income
$439,110
$465,350
$425,050
$437,186
$450,161
$464,499
$478,493
Less Estimated Operating Expenses
Operating Budget
5,380
4,130
4,250
4,250
4,250
4,250
4,250
Exceptional Charges
429,990
439,925
456,775
454,975
452,375
448,975
444,775
Estimated Net Operating Income
3,740
21,295
(35,975)
(22,039)
(6,464)
11,274
29,468
Add Beginning of Year Cash Balance
221,926
221,926
243,221
207,246
185,207
178,743
190,017
Estimated Available Funds
225,666
243,221
207,246
185,207
178,743
190,017
219,485
Adjusted Cash Available
225,666
243,221
207,246
185,207
178,743
190,017
219,485
Less Capital Improvement Program
0
0
0
0
0
0
0
Estimated Unrestricted Cash Balance at Year -End
$225,666
$243,221
$207,246
$185,207
$178,743
$190,017
$219,485
36
Real Estate Taxes
Sales Tax Transfer From Other Funds
Interest
Total Revenue
Village of Oak Brook
2014-2018 Five -Year Financial Plan
PROMENADE SPECIAL TAX ALLOCATION (T.I.F.) FUND
Revenue Projections
2013 Budget 2013 Estimate
2014
2015
2016
2017
$362,000
$345,000
$345,000
$355,350
$366,011
$376,991
77,035
120,300
80,000
80,800
83,224
85,721
75
50
50
1,036
926
1,787
$439,110
$465,350
$425,050
$437,186
$450,161
$464,499
37
2018
$388,301
88,292
1,900
$478,493
Operations and Contractual
Total Operating Budget
Exceptional Charges
Debt Service hiterest
Debt Service Principal
Total Exceptional Charges
Total Budget
Village of Oak Brook
2014-2018 Five -Year Financial Plan
PROMENADE SPECIAL TAX ALLOCATION (T.I.F.) FUND
Long -Range Operating Budget
20I3 Budget 2013 Estimate 2014
$5,380 $4,130 $4,250
5,380 4,130 4,250
2015
2016
2017
2018
$4,250
$4,250
$4,250
$4,250
4,250
4,250
4,250
4,250
322,290
322,125
311,775
299,975
287,375
273,975
259,775
107,700
117,800
145,000
155,000
165,000
175,000
185,000
429,990
439,925
456,775
454,975
452,375
448,975
444,775
$ 435,370
$ 444,055
$ 461,025
$ 459,225
$ 456,625
$ 453,225
$ 449,025
38
VILLAGE OF OAK BROOK
2014-2018
FIVE-YEAR FINANCIAL PLAN
WATER FUND
DESCRIPTION:
The water utility is one of two large enterprises operated by the Village. It serves approximately 5,200 customers, 1,525 of which are located
outside the corporate limits of Oak Brook. The Water Fund supports both operations and capital improvements to the water system. The
Water Fund is considered an enterprise fund and is operated on a self-supporting basis.
OVERVIEW:
Revenue: Revenue from the sale of water is based on an average of 1.1 billion gallons billed per year and usage is projected to be flat in order
to mitigate fluctuations due to weather. In 2010, the Village Board conducted a comprehensive water rate study that resulted in increasing the
water rates in order to support the operating and maintenance of the system as well as capital improvements. The 2014 Budget reflects an
increase in the water rate in order to fund expected long-term capital outlays due to the aging of the system and the rate increase from the City
of Chicago to the DuPage Water Commission.
Operations: The cost to DuPage Water Commission increased by 18%, which is reflective in the 2014 budget and 5% in 2015 — 2018.
Capital Improvements: The capital improvement program reflects a focus on water main replacement for the next twenty years.
39
Unrestricted Cash Available, January 1, 2013
Estimated Income
Less Estimated Operating Expenses
Operating Budget
Exceptional Charges
Estimated Net Operating Income
Add Beginning of Year Cash Balance
Estimated Available Funds
Less Capital Improvement Program
Estimated Unrestricted Cash Balance at Year -End
$2,886,549
Village of Oak Brook
2014-2018 Five -Year Financial Plan
WATER FUND
Summary
2013 Budget 2013 Estimate 2014 2015 2016 2017 2018
$7,571,800 $6,966,290 $7,312,400 $8,092,268 $8,355,781 $8,628,974 $8,907,277
946,705
1,307,550
1,415,945
1,424,906
1,464,141
1,504,371
1,545,615
4,648,190
4,169,860
4,849,660
5,614,206
5,886,235
6,177,910
6,474,871
1,976,905
1,488,880
1,046,795
1,053,156
1,005,405
946,694
886,792
2,886,549
2,886,549
3,744,429
3,196,724
3,333,880
4,229,285
3,337,979
4,863,454
4,375,429
4,791,224
4,249,880
4,339,285
5,175,979
4,224,771
696,900
631,000
1,594,500
916,000
110,000
1,838,000
1,750,000
$4,166,554
$3,744,429
$3,196,724
$3,333,880
$4,229,285
$3,337,979
$2,474,771
Village of Oak Brook
2014-2018 Five -Year Financial Plan
WATER FUND
Revenue Projections
41
2018
$8,735,000
25,000
20,000
20,000
30,389
500
4,000
7,389
65,000
$8,907,277
2013 Budget
2013 Estimate
2014
2015
2016
2017
Water Sales
$7,415,000
$6,775,000
$7,140,000
57,920,000
$8,180,000
$8,455,000
Unmetered Sales
25,000
25,000
25,000
25,000
25,000
25,000
Connection Fees
20,000
35,000
20,000
20,000
20,000
20,000
Meter Fees
10,000
21,000
20,000
20,000
20,000
20,000
Special Services
27,000
36,490
27,000
27,810
28,644
29,504
Plan Review Fees
800
I,800
1,400
500
500
500
Inspection Fees
2,000
4,000
4,000
4,000
4,000
4,000
Interest
12,000
8,000
10,000
9,958
12,636
9,971
Miscellaneous
60,000
60,000
65,000
65,000
65,000
65,000
Total Revenue
$7,571,800
$6,966,290
$7,3I2,400
$8,092,268
$8,355,781
$8,628,974
41
2018
$8,735,000
25,000
20,000
20,000
30,389
500
4,000
7,389
65,000
$8,907,277
Village of Oak Brook
2014-2018 Five -Year Financial Plan
WATER FUND
Long -Range Operating Budget
Capital Improvement Program
(See Schedule) $696,900 $631,000 $1,594,500 $916,000 $110,000 $1,838,000 $1,750,000
Total Budget $6,291,795 $6,I08,410 $7,860,105 $7,955,112 $7,460,376 $9,520,280 $9,770,486
42
2013 Budget
2013 Estimate
2014
2015
2016
2017
2018
Personnel
$761,060
$761,035
$772,095
$806,839
$843,147
$881,089
$920,738
Materials and Supplies
93,710
91,880
96,040
98,921
1.01,889
104,946
108,094
Operations and Contractual
91,335
453,635
546,8I0
563,214
580,111
597,514
615,439
Other Expenditures
600
1,000
1,000
1,000
1,000
1,000
1,000
Total Operating Budget
$946,705
$1,307,550
$1,415,945
$1,468,975
$1,525,147
$1,583,548
$I,644,271
Adjustment for Budget Goal Attainment
$1,415,945
$1,424,906
$1,464,141
$1,504,371
$1,545,615
Exceptional Charges
DWC Fixed and O & M Charges
$4,243,330
$3,765,000
$4,412,000
$5,162,040
$5,420,142
$5,691,149
$5,975,707
Transfer To General Corporate Fund
347,400
347,400
378,375
389,726
401,418
413,461
425,864
Vehicle Replacement Charges
57,460
57,460
59,285
62,440
64,675
73,300
73,300
Total Exceptional Charges
$4,648,190
$4,169,860
$4,849,660
$5,614,206
$5,886,235
$6,177,910
$6,474,871
Capital Improvement Program
(See Schedule) $696,900 $631,000 $1,594,500 $916,000 $110,000 $1,838,000 $1,750,000
Total Budget $6,291,795 $6,I08,410 $7,860,105 $7,955,112 $7,460,376 $9,520,280 $9,770,486
42
Distribution Improvements:
Undesignated/Miscellaneous
22nd St. (Salt Creek to Clearwater) Water Main
West 22nd Street
Replacement of water meters and data collectors
Mockingbird/Concord/Devonshire Water Main
Kimberley Cir/Ct/Cambridge Water Main
York Woods Phase II
Well Maintenance:
Well 96 (31 st & Meyers)
Storage and Pumps:
35th Street Station Pumping System
Total Capital Improvement Program
125,000
15,000
$696,900
80,000 916,000
50,000 1,350,000
120,000
2016
110,000
2017
50,000
1,788,000
2018
1,750,000
$631,000 $1,594,500 $916,000 $110,000 $1,838,000 $1,750,000
43
Village of Dalt Brook
2014-2018
Five -Year Financial Plan
WATER FUND
Capital Improvement Program
2013 Budget
2013 Estimate 2014 2015
100,000
194,000
230,000
200,000
169,000
62,900
62,000 164,500
125,000
15,000
$696,900
80,000 916,000
50,000 1,350,000
120,000
2016
110,000
2017
50,000
1,788,000
2018
1,750,000
$631,000 $1,594,500 $916,000 $110,000 $1,838,000 $1,750,000
43
VILLAGE OF OAK BROOK
20142018
FIVE-YEAR FINANCIAL PLAN
SPORTS CORE FUND
DESCRIPTION:
The Oak Brook Sports Core is the other large enterprise operated by the Village. The Sports Core Fund supports the entire operation
including uses of the Sports Core's fields and forest areas, the Oak Brook Golf Club, the Oak Brook Bath and Tennis Club (all available for
use by the general public) and food and beverage services at the various Sports Core venues. It is considered an enterprise fund since the
majority of its revenues are derived from user fees.
In order to make clear the specific designation of certain resources, the Sports Core Fund is broken down into three segments: Sports Core
Operations, the Golf Surcharge Account and the Capital Improvement Account. The Sports Core Fund - Consolidated presentation brings all
of the parts together.
OVERVIEW:
For many years it has been the goal of the Village to operate the Sports Core on a self-sufficient basis; that is, it should be 100% supported by
user fees. Based on projections contained in this document, revenues are expected to cover 90% of operating expenses. A subsidy from the
General Corporate Fund ($345,800), Infrastructure Fund ($24,000), and Water Fund ($8,000) is included in this plan for capital needs, non -
golf supervision, and to continue polo operations. The plan also includes a General Fund subsidy of $200,000 in years 2015 -- 2018.
FUTURE CONSIDERATIONS:
Although the future projections are encouraging, favorable operating results of the Sports Core Fund are largely dependent on favorable
weather, annual increases in user fee revenue, and improved financial results of the Food and Beverage operations. Irl addition, management
is seeking ways to improve the management of the non -golf Sports Core recreation operations. Capital improvements completed over the past
several years were planned with a view toward making more favorable operating results possible on an annual basis.
44
Cash Available, January 1, 2013
Estimated Income
Less Estimated Operating Expenses
Operating Budget
Exceptional Charges
Estimated Net Operating Income
Add Beginning of Year Cash Balance
Estimated Available Funds
Interfund Loan
Interfund Loan Repayment
Adjusted Cash Available
Less Capital Improvement Program
Estimated Cash Balance at Year -End
$185,079
Village of Oak Broom
2014-2018 Five -Year Financial Plan
SPORTS CORE FUND -CONSOLIDATED
Summary
2013 Budget 2013 Estimate 2014 2015 2016 2017 2018
$3,604,870 $3,202,780 $4,138,455 $3,755,123 $3,849,117 $3,945,254 $4,043,597
3,042,800
3,123,915
3,335,630
3,447,837
3,564,881
3,686,238
3,812,080
64,060
64,060
63,140
62,220
0
0
0
498,010
14,805
739,685
245,066
284,236
259,016
231,516
185,079
185,079
55,064
176,249
1,315
137,552
(3,433)
683,089
199,884
794,749
421,315
285,552
396,567
228,084
0
0
0
0
0
0
0
0
0
0
0
0
0
0
683,089
199,884
794,749
421,315
285,552
396,567
228,084
3I6,000
144,820
618,500
420,000
148,000
400,000
111,000
$367,089
$55,064
$176,249
$1,315
$137,552
($3,433)
$117,084
45
Village of Oak Brook
2014-2018 Five -Year Financial Plan
SPORTS CORE FUND -CONSOLIDATED
Revenue Projections
2013 Budget 2013 Estimate 2014 2015 2016 2017 2018
Sports Core Operations $3,484,370 $3,065,010 $3,867,955 $3,634,623 $3,728,417 $3,824,354 $3,922,497
Golf Surcharge 120,500 137,770 270,500 120,500 1.20,700 120,900 121,100
Total $3,604,870 $3,202,780 $4,138,455 $3,755,123 $3,849,117 $3,945,254 $4,043,597
Personnel
Materials and Supplies
Operations and Contractual
Total
Village of Oalt Brook
2014-2018 Five -Year Financial Plan
SPORTS CORE FUND -CONSOLIDATED
Long -Range Operating Budget
2013 Budget 2013 Estimate 2014
$1,515,800
$1,416,820
$1,475,950
669,900
671,710
725,445
857,100
1,035,385
1,134,235
$3,042,800
$3,123,915
$3,335,630
2015
2016
2017
2018
$1,542,368
$1,611,774
$1,684,304
$1,760,098
743,581
762,171
781,225
800,756
1,161,888
1,190,936
1,220,709
1,251,227
$3,447,837
$3,564,881
$3,686,238
$3,8I2,080
Exceptional Charges
Transfer to General Fund
64,060
64,060
63,140
62,220
0
0
0
Total
$64,060
$64,060
$63,140
$62,220
$0
$0
$0
Capital Improvement Program
Spoils Core Operations
316,000
69,820
468,500
195,000
148,000
150,000
111,000
Golf Surcharge
0
75,000
150,000
225,000
0
250,000
0
Total
$316,000
$144,820
$618,500
$420,000
$148,000
$400,000
$111,000
Total Budget
$3,422,860
$3,332,795
$4,017,270
$3,930,057
$3,712,881
$4,086,238
$3,923,080
47
VILLAGE OF OAK BROOK
20X4-2018
FIVE-YEAR FINANCIAL PLAN
SPORTS CORE FUND
Operations
DESCRIPTION:
The Sports Core Fund Operations presentation combines the operating projections for the Golf Club, Bath and Tennis Club, Sports Core Food
and Beverage operations, and open fields operations. It also includes capital expenditures for equipment and similar purposes not assigned to
the Golf Surcharge Account.
OVERVIEW:
Revenue: The total number of Golf Club members is projected at 145 throughout the planning period. For years 2014 -2018, memberships
are to remain flat and membership fees are increased 3% per year. Daily greens fees increase $.50 to $1.00 per round per year. Other revenues
are adjusted consistent with market factors.
Membership revenue for the Bath & Tennis Club is budgeted to increase 5% over the 2013 actual amounts. In 2015 and thereafter, a 3%
increase in the number of members is included as well as a $25 annual increase in rates for all membership categories.
Food and Beverage operations consist of the Golf Cafe, Poolside Grill and the Bath and Tennis Clubhouse. The Poolside Grill was
outsourced in 2009 and 2010. In 2011 the Poolside Grill was operated by the Sports Core staff. The Bath and Tennis Clubhouse outsourcing
agreement was not renewed in 2011. A part-time venue salesperson was hired and developed a preferred caterer list to accommodate a wide
variety of client needs and wants.
Operations: The Bath and Tennis Clubhouse will continue to market the preferred caterer (partner) concept to our wedding and special event
clients. Additional seasonal staff has been added to expand customer service offerings for membership sales.
Capital Improvements: The capital improvement program in the Sports Core Fund Operations presentation reflects an ongoing program of
maintaining existing equipment and facilities. The 2014 budget includes $468,500 in capital improvements, of which, $187,800 is funded by
a grant.
48
Unrestricted Cash Available, January 1, 2013 $46,494
Estimated Income
Less Estimated Operating Expenses
Operating Budget
Exceptional Charges
Estimated Net Operating Income
Add Beginning of Year Cash Balance
Estimated Available Funds
Transfer From Golf Surcharge -Flood
Interfund Loan
Adjusted Cash Available
Less Capital Improvement Program
Estimated Unrestricted Cash Balance at Year -End
Village of Oak Brook
2014-2018 Five -Year Financial Plan
SPORTS CORE FUND OPERATIONS
Summary
2013 Budget 2013 Estimate 2014 2015 2016 2017 2018
$3,484,370 $3,065,010 $3,867,955 $3,634,623 $3,728,417 $3,824,354 $3,922,497
3,042,800
3,123,915
3,335,630
3,447,837
3,564,881
3,686,238
3,812,080
64,060
64,060
63,140
62,220
0
0
0
377,510
(122,965)
469,185
124,566
163,536
138,116
110,416
46,494
46,494
(146,291)
(145,606)
(216,040)
(200,503)
(212,388)
424,004
(76,471)
322,894
(21,040)
(52,503)
(62,388)
(101,971)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
424,004
(76,471)
322,894
(21,040)
(52,503)
(62,388)
(101,971)
316,000
69,820
468,500
195,000
148,000
150,000
111,000
108,004
(146,291)
(145,606)
(216,040)
(200,503)
(212,388)
(212,971)
49
Village of Oalc Brook
2014-2018 Five -Year Financial Plan
SPORTS CORE FUND OPERATIONS
Revenue Projections
2013 Budget 2013 Estimate 2014 2015 2016 2017 2018
Bath & Tennis Club:
General Administration
Miscellaneous
$1,950
($650)
$950
$950
$950
$950
$950
Transfer From General Fund
345,880
200,000
200,000
200,000
200,000
Transfer From Infrastructure Fund
24,000
24,000
24,000
24,000
24,000
Transfer From Water Fund
8,000
8,000
8,000
8,000
8,000
Swimming
Grants
110,000
110,000
Membership Allocation
185,905
176,320
185,665
191,235
196,972
202,881
208,968
Swim Fees
35,840
25,120
27,770
28,603
29,461
30,345
31,255
Tennis
Grants
41,000
41,000
Membership Allocation
100,005
94,955
99,625
102,614
105,692
108,863
112,129
Tennis Lessons and Programs
42,400
47,975
48,800
50,264
51,772
53,325
54,925
Beverage & Pro Shop Revenue
525
45
525
541
557
574
591
Miscellaneous
200
315
200
Polo
Sponsorships, Memberships, & Admissions
42,890
88,500
110,500
113,815
117,229
120,746
124,369
Open Fields
Field Rental
203,460
182,460
203,460
218,460
225,014
231,764
238,717
Sponsorships, Memberships, & Admissions
180,000
181,750
180,000
180,000
180,000
180,000
180,000
Total Bath & Tennis Club
$944,175
$804,790
$1,396,375
$1,128,782
$1,150,256
$1,172,376
$1,195,158
50
Village of Oak Brook
2014-2018 Five -Year Financial Plan
SPORTS CORE FUND OPERATIONS
Revenue Projections
Golf Club:
Memberships
2013 Budget
2013 Estimate
2014
2015
2016
2017
2018
Food & Beverage:
960,000
840,000
900,000
927,000
954,810
983,454
1,0I2,958
Clubhouse Rood & Beverage
206,500
174,300
201,300
201,300
201,300
201,300
201,300
Grants
$36,800
250,500
36,800
258,500
258,500
258,500
258,500
Rental Income
160,000
147,000
160,000
180,000
200,000
220,000
240,000
Miscellaneous
2,000
4,330
2,000
2,000
2,000
2,000
2,000
Poolside Grill
2,100
2,350
2,250
2,250
2,250
2,250
2,250
Food Sales
46,250
42,000
46,250
47,638
49,067
50,539
52,055
Beverage/Liquor Sales
20,640
17,000
20,640
21,259
21,897
22,554
23,231
Golf Club Lounge
Food Sales
128,000
104,000
128,000
131,840
135,795
139,869
144,065
Beverage/Liquor Sales
180,000
170,000
I80,000
185,400
190,962
196,691
202,592
Candy/Cigarette Sales
7,800
7,800
7,800
8,034
8,275
8,523
8,779
Total Food & Beverage
$581,490
$492,130
$581,490
$576,171
$607,996
$640,176
$672,721
Golf Club:
Memberships
$188,105
$182,040
$182,040
$187,501
$193,126
$198,920
$204,888
Golf Fees
960,000
840,000
900,000
927,000
954,810
983,454
1,0I2,958
Merchandise Sales
206,500
174,300
201,300
201,300
201,300
201,300
201,300
Driving Range Fees
256,000
250,500
258,500
258,500
258,500
258,500
258,500
Cart Rental Fees
346,000
318,900
346,000
352,920
359,978
367,178
374,522
Grants
Miscellaneous
2,100
2,350
2,250
2,250
2,250
2,250
2,250
Total Golf Club
$1,958,705
$1,768,090
$1,890,090
$1,929,471
$1,969,965
$2,011,602
$2,054,417
Total Sports Core Operations
$3,484,370
$3,065,010
$3,867,955
$3,634,423
$3,728,217
$3,824,154
$3,922,297
51
Personnel
Materials and Supplies
Operations and Contractual
Total
Village of Oak Brook
2014-2018 Five -Year Financial Plan
SPORTS CORE FUND OPERATIONS
Long -Range Operating Budget
2013 Budget 2013 Estimate 2014
$1,515,800
$1,416,820
$1,475,950
669,900
671,710
725,445
857,100
1,035,385
1,134,235
$3,042,800
$3,123,915
$3,335,630
2015
2016
2017
2018
$1,542,368
$1,611,774
$1,684,304
$1,760,098
743,581
762,171
781,225
800,756
1,161,888
1,190,936
1,220,709
1,251,227
$3,447,837
$3,564,881
$3,686,238
$3,812,080
Exceptional Charges
Transfer to General Fund 64,060 64,060 63,140 62,220 0 0 0
Total $64,060 $64,060 $63,140 $62,220 $0 $0 $0
Capital Improvement Program
(See Schedule) $316,000 $69,820 $468,500 $195,000 $148,000 $150,000 $111,000
Total Budget $3,422,860 $3,257,795 $3,867,270 $3,705,057 $3,712,881 $3,836,238 $3,923,080
52
Village of Oak Brook
Five Year Financial Plan
Sports Core Fund Operations
Capital Improvement Program
2013 Budget 2013 Estimate 2014 2015 2016 2017 2018
Bath & Tennis Club:
Pool Heater
20,000
I-Iot water tank replacement
20,000
Locker Room Improvements
40,000
60,000
Pool Awning Replacement
10,000
10,000
10,000
Pool Painting
20,000
20,000
10,000
20,000
Basement Stairway
40,000
40,000
New air conditioner
40,000
Fencing for courts I & 2
15,000
15,000
Move pro shop to clubhouse
26,000
26,000
5,000
5,000
Pro Shop Roof Replacement
7,500
Drainage - open fields
15,000
15,000
15,000
Pool deck furniture
10,000
10,000
Food And Beverage:
Exterior stain and soffit repair
45,000
New air conditioner
80,000
40,000
Drainage - kitchen door
10,000
Tile replacement
15,000
Dishwasher Replacement
10,000
Roof Scuppers
20,000
Saddle Room Floor
20,000
Clubhouse Furniture
30,000
Entrance sign
10,000
Golf Club:
Tractors/Mowcrs
10,000
10,000
65,000
60,000
53,000
50,000
Exterior staining
15,000
Lighting
15,000
Greens mower
9,000
9,000
Kitchen Dishwasher
15,000
15,000
Deep Tine Aeraifier
26,000
20,820
Carpeting Replacement
25,000
Clubhouse Furniture
20,000
Battery replacement on golf carts
50,000
HVAC Improvements
30,000
Dump Truck
20,000
Seeder
31,000
Golf Car Ramp Replacement
65,000
Fairway Cultivator
20,000
Total Capital Improvement Program $316,000 $69,820 $468,500 $195,000 $148,000 $150,000 $111,000
53
VILLAGE OF OAK BROOK
2014-2018
FIVE-YEAR FINANCIAL PLAN
SPORTS CORE FUND
Golf Surcharge Account
DESCRIPTION:
The Golf Surcharge Account is the repository for revenues received from the $3.00 per round surcharge levied on every round of golf played
at the Oak Brook Golf Club. Surcharge revenues are reserved for golf course improvements and for restoration of flood damage to the course,
should it be necessary in the fixture.
OVERVIEW:
Revenue: Revenue is projected based on the $3.00 surcharge applied to 40,000 rounds per year.
Capital Improvements: Drainage project funded by reserves from the General Corporate Fund in 2014 and the Golf Surcharge Fund in 2015 —
2018.
54
Restricted Cash Available, January 1, 2013 $138,585
Estimated Income
Less Estimated Operating Expenses
Operating Budget
Exceptional Charges
Estimated Net Operating Income
Add Beginning of Year Cash Balance
Estimated Available Funds
Interfund Loan Repayment (General Fund)
Adjusted Cash Available
Less Capital Improvement Program
Estimated Restricted Cash Balance at Year -End
Village of Oak Brook
2014-2018 Five -Year Financial Plan
SPORTS CORE FUND -GOLF SURCHARGE ACCOUNT
Summary
2013 Budget 2013 Estimate 2014 2015
2016 2017 2018
$I20,500 $137,770 $270,500 $120,500 $120,700 $120,900 $121,100
0
0
0
0
0
0
0
0
0
0
0
0
0
0
120,500
137,770
270,500
120,500
120,700
120,900
121,100
138,585
138,585
201,355
321,855
217,355
338,055
208,955
259,085
276,355
471,855
442,355
338,055
458,955
330,055
0
0
0
0
0
0
0
259,085
276,355
471,855
442,355
338,055
458,955
330,055
0
75,000
150,000
225,000
0
250,000
0
$259,085
$201,355
$321,855
$217,355
$338,055
$208,955
$330,055
55
Village of Oak Brook
201.4-201.8 Five -Year Financial Plan
SPORTS CORE FUND -GOLF SURCHARGE ACCOUNT
Revenue Projections
Account 2013 Budget 2013 Estimate
Golf Surcharge $120,000 $112,000
Transfer from General Corporate Fund $25,000
Interest 500 770
Total Revenue $120,500 $137,770
56
2014 2015 2016 2017 2018
$120,000 $120,000 $120,000 $120,000 $120,000
$150,000
500 500 700 900 1,100
$270,500 $120,500 $120,700 $120,900 $121,100
Village of Oal(Brook
2014-2018 Five -Year Financial Plan
SPORTS CORE FUND -GOLF SURCHARGE ACCOUNT
Long -Range Operating Budget
2013 Budget 20I3 Estimate
Capital Improvement Program
Drainage study 25,000
Drainage project
Other Improvements 50,000
Total $0 $75,000
Total Budget $0 $75,000
57
2014 2015 2016 2017 2018
50,000
100,000 225,000
250,000
$150,000
$225,000
$0
$250,000
$0
$150,000
$225,000
$0
$250,000
$0
VILLAGEOFOAK BROOK
2014-2018
FIVE-YEAR FINANCIAL PLAN
SELF-INSURANCE FUND
DESCRIPTION:
The Self -Insurance Fund is an internal service fund used for funding the Village's employee welfare benefit programs, including the self-
insured medical and dental plans and group life and accidental death insurance coverage. These programs also are made available to
employees of the Oak Brook Park District, retired Village employees and separated employees and their dependents pursuant to COBRA
regulations.
OVERVIEW:
Revenue: Revenue comes principally from charges to other funds, through the budgets of departments where plan participants are employed,
charges to the Oak Brook Park District, charges to retirees, and charges to COBRA participants. The Plan also reflects increased participant
contribution to the cost of health and dental insurance for all covered Village employees. Revenue from equivalent premiums is projected to
increase at a rate sufficient to fund projected expenses.
Operations: Over the last five years, the amount expended for health insurance claims has moderated due primarily to a change in the third
party administrator to Blue Cross/Blue Shield and alternative plan offerings. On July 1, 2005 the Village began offering an HMO alternative
to non-union employees and by 2011 all the Unions agreed to the Village's terms per their respective collective bargained agreements
(CBA's). For 2014, claims are projected based on various rates used to set equivalent premiums. For 2015 and beyond, a claims inflation
factor of 8% per year has been used. Other expenses, including reinsurance costs, are also projected to increase 3% to 5% annually, beginning
in July 2014.
FUTURE CONSIDERATIONS:
On March 23, 2010, President Obama signed into law the Patient Protection and Affordable Care Act. The impact of new healthcare reforms
on employers is multi -faceted and complex. This will directly require employers to modify their practices and policies. Some of the
significant changes may affect the Village of Oak Brook starting in the year 2015.
58
Unrestricted Cash Available, January 1, 2013
Estimated Income
Less Estimated Operating Expenses
Operating Budget
Exceptional Charges
Estimated Net Operating Income
Add Beginning of Year Cash Balance
Estimated Available Funds
Adjusted Cash Available
Less Capital Improvement Program
Estimated Unrestricted Cash Balance at Year -End
$581,942
Village of Oak Brook
2014-2018 Five -Year Financial Plan
SELF-INSURANCE FUND
Summary
2013 Budget 2013 Estimate 2014 2015 2016 2017 2018
$2,746,315 $3,177,125 $3,050,61.0 $3,307,887 $3,865,912 $4,309,511 $4,807,528
0
0
0
0
0
0
0
2,970,200
3,091,645
3,344,500
3,600,520
3,878,630
4,178,545
4,501,735
(223,885)
85,480
(293,890)
(292,633)
(12,718)
130,966
305,793
581,942
581,942
667,422
373,532
80,899
68,181
199,147
358,057
667,422
373,532
80,899
68,181
199,147
504,941
358,057
667,422
373,532
80,899
68,181
199,147
504,941
0
0
0
0
0
0
0
$358,057
$667,422
$373,532
$80,899
$68,181
$199,147
$504,941
Village of Oak Brook
2014-2018 Five -Year Financial Plan
SELF-INSURANCE FUND
Revenue Projections
v
2013 Budget
2013 Estimate
2014
2015
20I6
2017
2018
Village Contributions
$1,470,315
$1,460,000
$1,690,360
$1,817,140
$2,I80,500
$2,400,000
$2,640,000
Participant Contributions
400,000
312,000
425,000
467,500
561,000
673,200
807,840
Park, District Contributions
370,000
372,500
400,000
440,000
484,000
532,400
585,640
Retiree Contributions
500,000
517,500
525,000
577,500
635,250
698,775
768,650
Cobra Contributions
5,000
0
10,000
5,000
5,000
5,000
5,000
Interest
1,000
125
250
747
162
136
398
Transfer fi•om General Corporate Fund
515,000
Total Revenue
$2,746,315
$3,177,125
$3,050,610
$3,307,887
$3,865,912
$4,309,511
$4,807,528
v
Village of Oak Brook
2014-2418 Five -Year Financial Plan
SELF-INSURANCE FUND
Long -Range Operating Budget
2013 Budget 2013 Estimate 2014 2015 2016 2017 2018
Exceptional Charges
Stop -Loss Premiums
$229,000
$195,000
$200,000
$214,800
$230,725
$247,860
$266,300
HMO Premiums
455,000
350,000
450,000
486,000
524,880
566,870
612,220
Vision Premiums
6,500
6,500
6,695
7,230
7,8I0
8,435
Life Insurance Premiums
25,000
22,500
25,500
25,750
26,525
27,320
28,140
Health Claims
1,900,000
2,186,645
2,300,000
2,484,000
2,682,720
2,897,340
3,129,125
Dental CIaims
175,000
160,000
175,000
188,125
202,235
217,400
233,705
Plan Administration Expense
186,200
171,000
187,500
195,150
204,315
213,945
223,810
Total Exceptional Charges
$2,970,200
$3,09I,645
$3,344,500
$3,600,520
$3,878,630
$4,178,545
$4,501,735
61
VILLAGE OF OAIC BROOK
20I4-2018
FIVE-YEAR FINANCIAL PLAN
GARAGE FUND
DESCRIPTION:
This fund is an internal service fund financed by charges to Village departments for maintenance of vehicle fleet equipment. Expenditures
support the operation and maintenance of cars, trucks, most fire equipment, public works construction equipment and related items.
OVERVIEW:
Revenue: Revenues are calculated as charge -backs to various operating budget programs based on historical fuel and maintenance cost
information.
Operations; All costs associated with operation and maintenance of the Village's vehicle and equipment fleet are charged to this fund.
Annual transfers to the General Corporate Fund for administrative services are also included. The projections include increases in the cost of
fuel due to elevated oil prices as well as increases in the cost of repairs.
Capital Expenditures: Laptop and diagnostic software for $6,400 is budgeted in 2014.
62
Unrestricted Cash Available, January 1, 2013 $25,504
Estimated Income
Less Estimated Operating Expenses
Operating Budget
Exceptional Charges
Estimated Net Operating Income
Add Beginning of Year Cash Balance
Estimated Available Funds
Interfund Loan
Interfund Loan Repayment
Adjusted Cash Available
Less Capital Improvement Program
Estimated Unrestricted Cash Balance at Year -End
Village of Oak Broolk
2014-2018 Five -Year Financial Plan
GARAGE FUND
Summary
2013 Budget 2013 Estimate
2014 2015 2016 2017 2018
$785,110 $785,020 $810,090 $834,519 $859,564 $885,432 $912,057
719,300
728,695
751,510
771,522
792,072
813,173
834,840
36,200
36,200
37,275
38,075
38,875
39,675
40,475
29,610
20,125
21,305
24,921
28,618
32,584
36,742
25,504
25,504
35,629
50,534
55,455
84,073
107,157
55,I14
45,629
56,934
75,455
84,073
116,657
143,899
0
0
0
0
0
0
0
0
0
0
0
0
0
0
55,114
45,629
56,934
75,455
84,073
116,657
143,899
0
10,000
6,400
20,000
0
9,500
0
$55,114
$35,629
$50,534
$55,455
$84,073
$107,157
$143,899
63
Village of Oak Brook
2014-2018 Five -Year Financial Plan
GARAGE FUND
Revenue Projections
2013 Budget 2013 Estimate 2014 2015
20162017 2018
Vehicle O & M Charges $785,010 $785,010 $810,065 $834,367 $859,398 $885,180 $911,735
Interest 100 10 25 152 166 252 321
Miscellaneous
Total Revenue $785,110 $785,020 $810,090 $834,519 $859,564 $885,432 $912,057
64
Personnel
Materials and Supplies
Operations and Contractual
Total Operating Budget
Exceptional Charges
Transfer to Infrastructure Fund
Vehicle Replacement Charge
Total Exceptional Charges
Capital Improvement Program
Lap top and diagnostic software
Fuel Island
Floor coating
Brake Lathe
Total Capital Improvement Program
Total Budget
Village of Oak Brook
2014-2018 Five -Year Financial Plan
GARAGE FUND
Long -Range Operating Budget
2013 Budget
2013 Estimate
2014
2015
2016
2017
2018
0
$235,695
$233,395
$244,915
$252,262
$259,830
$267,625
$275,654
269,445
276,830
285,335
292,468
299,780
307,275
314,956
214,160
218,470
221,260
226,792
232,461
238,273
244,230
$719,300
$728,695
$751,510
$771,522
$792,072
$813,173
$834,840
$36,200
$36,200 $37,275 $38,075
$38,875
$39,675
$40,475
0
0
0
0
0
$36,200
$36,200 $37,275 $38,075
$38,875
$39,675
$40,475
6,400
10,000
$20,000
$9,500
$0 $10,000 $6,400 $20,000 $0 $9,500 $0
$755,500 $774,895 $795,185 $829,597 $830,947 $862,348 $875,315
65
VILLAGE OF OAK BROOK
2014-2018
FIVE-YEAR FINANCIAL PLAN
EQUIPMENT REPLACEMENT FUND
DESCRIPTION:
This fiend was created as a means of pre -funding replacement of major capital equipment, primarily vehicles. It has been supported by other
funds, principally the General Corporate, Infrastructure, and Water Funds, through vehicle user charges. This fund is utilized solely for
replacement of fleet equipment. Acquisition of new equipment (i.e., not as replacements) is reflected in the fund where the using department
or division resides.
OVERVIEW:
Revenue: Prior to 2002, revenues were calculated as charge -backs to various operating budget programs based on future replacement cost and
funded over the remaining life of existing vehicles and equipment. In 2002, the charge -back attributable to the General Corporate Fund was
eliminated and replaced with 20% of utility tax collections (i.e. 1% of the total 5% rate). For 2003 and 2004, the Equipment Replacement
Fund's share of utility tax collections was redirected to the General Corporate Fund in order to fund operating needs (the General Corporate
Fund share was not funded). For 2005 and thereafter there is a return to the 2002 practice whereby operating budget programs are assessed a
charge -back based on future replacement cost. Due to budget issues the Village has encountered over the last several years, the General
Corporate Fund contribution was either limited or no contribution was made. For 2014, the General Corporate Fund is budgeted to fully
contribute towards the funding of the equipment replacement needs.
Capital Expenditures: The capital program reflects normal scheduled replacements of existing fleet vehicles. The actual timing of the
replacement will be based on mileage, condition, and maintenance history of the vehicle at that time. The deferral of the replacement of some
vehicles from the schedule contained here is likely to occur.
Me
Unrestricted Cash Available, January 1, 20I3
Estimated Income
Less Estimated Operating Expenses
Operating Budget
Exceptional Charges
Estimated Net Operating Income
Add Beginning of Year Cash Balance
Estimated Available Funds
Interfund Loan
Interfund Loan Repayment
Adjusted Cash Available
Less Capital Improvement Program
Estimated Unrestricted Cash Balance at Year -End
$2,731,432
Village of Oak Brook
2014-2018 Five -Year Financial Plan
EQUIPMENT REPLACEMENT FUND
Summary
2013 Budget 2013 Estimate
2014 2015 2016 2017 2018
$384,250 $381,750 $734,155 $736,467 $754,368 $919,648 $921,342
0
0
0
0
0
0
0
0
0
0
0
0
0
0
384,250
381,750
734,155
736,467
754,368
919,648
921,342
2,731,432
2,731,432
1,874,152
1,223,362
1,262,669
1,529,332
2,079,715
3,115,682
3,113,182
2,608,307
1,959,829
2,017,037
2,448,980
3,001,058
0
0
0
0
0
0
0
0
0
0
0
0
0
0
3,115,682
3,113,182
2,608,307
1,959,829
2,017,037
2,448,980
3,001,058
1,327,000
1,239,030
1,384,945
697,160
487,705
369,265
399,245
$1,788,682
$1,874,152
$1,223,362
$1,262,669
$1,529,332
$2,079,715
$2,601,813
67
Village of Oak Brook
2014-2018 Five -Year Financial Plan
EQUIPMENT REPLACEMENT FUND
Revenue Projections
2013 Budget
2013 Estimate
2014
2015
2016
2017
2018
Vehicle Replacement Charges
331,750
331,750
624,155
700,350
718,055
874,355
870,545
Interest
12,500
10,000
10,000
6,117
6,313
15,293
20,797
Sales/Insurance Proceeds
40,000
40,000
100,000
30,000
30,000
30,000
30,000
Total Revenue
$384,250
$381,750
$734,155
$736,467
$754,368
$919,648
$921,342
General Management Vehicles
Engineering Vehicles
Police Vehicles
Fire and EMS Vehicles
Code Enforcement Vehicles
Public Works Vehicles
Water Vehicles
Total
Village of Oak Brook
2014-2018 Five -Year Financial Plan
EQUIPMENT REPLACEMENT FUND
Capital Improvement Program
2013 Budget 2013 Estimate 2014 2015
$30,000
2016 2017
156,000
122,355
155,120
162,560
222,705
73,265
1,018,500
888,000
759,500
250,000
133,000
260,000
152,500
I68,167
408,000
78,600
108,000
36,000
60,508
62,325
176,000
24,000
$1,327,000
$1,239,030
$1,384,945
$697,160
$487,705
$369,265
2018
22,000
125,795
10,890
15,000
160,770
64,790
$399,245
VILLAGE OF OAK BROOK
2014-2018
FIVE-YEAR FINANCIAL PLAN
POLICE AND FIREFIGHTERS' PENSION FUNDS
DESCRIPTION:
The Police and Firefighters' Pension Funds are separate financial entities mandated by Illinois law. The respective pension boards, in
cooperation with the Village, strive to provide financially sound pension funds through application of proper actuarial practices and
compliance with statutory requirements. The specific pension benefits are determined by the Illinois General Assembly.
OVERVIEW:
RPVPf911P'
Traditionally, local pension systems are property tax supported. Lacking legal authority to levy for this or any other purpose, Oak Brook has
met its funding requirements via contributions from the General Corporate Fund. Thus, the Police and Firefighters' Pension Funds have been
supported primarily by the sales tax. The amounts contributed are based on payroll and are made via percentage factors that are determined by
actuarial studies and updated annually.
Investment earnings are projected at the current actuarially assurned rate of 6.75% (Police) and 6.75% (Firefighters') over the 2014-2018
planning period.
Operations. Expense projections in each pension fund reflect projected increases in the number of retirees in each system and annual
adjustments to pension benefits in accordance with applicable law.
FUTURE CONSIDERATIONS:
State tax cap legislation prohibits the Village from levying a property tax for pension purposes without voter approval. Therefore, the General
Corporate Fund must continue to plan for contributions to the pension funds in amounts sufficient to fund fixture benefits in accordance with
actuarial requirements and applicable law.
70
Village of Onk Brook
2014-2018 Five -Year Financial Plan
POLICE PENSION FUND
Summnry
71
2013 Budget
2013 Estimate
2014
2015
2016
2017
20I8
Restricted Cash Available, January 1, 2013 $29,814,630
Estimated Income
$3,562,855
$3,209,035
$3,684,060
$3,814,542
$3,960,437
$4,110,336
$4,264,547
Less Estimated Operating Expenses
Operating Budget
127,830
115,145
I29,025
133,291
136,639
140,073
143,593
Exceptional Charges
2,045,000
1,993,000
2,130,400
2,245,000
2,350,000
2,455,000
2,565,000
Estimated Net Operating Income
1,390,025
1,100,890
1,424,635
1,436,251
1,473,798
1,515,263
1,555,954
Add Beginning of Year Cash Balance
29,814,630
29,814,630
30,915,520
32,340,155
33,776,406
35,250,204
36,765,468
Estimated Available Funds
31,204,655
30,915,520
32,340,155
33,776,406
35,250,204
36,765,468
38,321,422
Adjusted Cash Available
31,204,655
30,915,520
32,340,155
33,776,406
35,250,204
36,765,468
38,321,422
Less Capital Improvement Program
0
0
0
0
0
0
0
Estimated Restricted Cash Balance at Year -End
$31,204,655
$30,915,520
$32,340,155
$33,776,406
$35,250,204
$36,765,468
$38,321,422
71
Village of Oak Brook
2014-2018 Five -Year Financial Plan
POLICE PENSION FUND
Revenue Projections
72
2013 Budget
2013 Estimate
2014
2015
2016
2017
2018
Village Contributions
$1,087,855
$I,153,320
$1,219,075
$1,255,647
$1,293,316
$1,332,115
51,372,078
Employee Contributions
375,000
345,715
364,985
375,935
387,214
398,832
410,800
Interest
2,100,000
1,710,000
2,100,000
2,182,960
2,279,907
2,379,389
2,491,669
Total Revenue
$3,562,855
$3,209,035
$3,684,060
$3,814,542
$3,960,437
$4,110,336
$4,264,547
72
Personnel
Materials and Supplies
Operations and Contractual
Total Operating Budget
Village of Oak Brook
2014-2018 Five -Year Financial Plan
POLICE PENSION FUND
Long -Range Operating Budget
2013 Budget 2013 Estimate
$7,975 $2,575
0 0
119,855 112,570
$127,830 $115,145
2015
2016 2017
$8,000
$8,240
$8,487
$8,742
0
1,000
1,000
1,000
121,025
I24,051
127,152
130,331
$129,025
$133,291
$136,639
$140,073
2018
$9,004
1,000
133,589
$143,593
Exceptional Charges
Pension Benefits
$2,045,000
$1,993,000
$2,130,400
$2,240,000
$2,345,000
$2,450,000
$2,560,000
Pension Refunds
0
0
0
5,000
5,000
5,000
5,000
Total Exceptional Charges
$2,045,000
$1,993,000
$2,130,400
$2,245,000
$2,350,000
$2,455,000
$2,565,000
Total Budget
$2,172,830
$2,108,145
$2,259,425
$2,378,291
$2,486,639
$2,595,073
$2,708,593
73
Village of Oak Broom
2014-2018 Five -Year Financial Plan
FIREFIGHTERS' PENSION FUND
Summary
2013 Budget 2013 Estimate 2014 2015 2016 2017 2018
Restricted Cash Available, January 1, 2013 $23,364,733
Estimated Income
$3,180,975
$2,966,110
$3,075,245
$3,098,705
$3,190,122
$3,283,555
$3,377,656
Less Estimated Operating Expenses
Operating Budget
115,505
112,095
118,575
121,432
124,360
127,362
130,438
Exceptional Charges
2,100,000
2,108,415
2,145,480
2,252,500
2,330,000
2,430,000
2,530,000
Estimated Net Operating Income
965,470
745,600
811,190
724,773
735,762
726,193
717,218
Add Beginning of Year Cash Balance
23,364,733
23,364,733
24,110,333
24,921,523
25,646,296
26,382,058
27,108,251
Estimated Available Funds
24,330,203
24,110,333
24,921,523
25,646,296
26,382,058
27,108,251
27,825,469
Adjusted Cash Available
24,330,203
24,110,333
24,921,523
25,646,296
26,382,058
27,108,251
27,825,469
Less Capital Improvement Program
0
0
0
0
0
0
0
Estimated Restricted Cash Balance at Year -End
$24,330,203
$24,110,333
$24,921,523
$25,646,296
$26,382,058
$27,108,251
$27,825,469
74
Village of Oat{ Brook
2014-2018 Five-Year Finaucial Plan
FIRE,EFIGHTERS' PENSION FUND
Revenue Projections
75
2013 Budget
2013 Estimate
2014
2015
2016
2017
2018
Village Contributions
1,015,975
1,106,340
1,106,340
1,139,530
1,173,716
1,208,927
1,245,195
Employee Contributions
$265,000
$259,770
$268,905
$276,972
$285,281
$293,839
$302,654
Interest
1,900,000
1,600,000
1,700,000
1,682,203
1,731,125
1,780,789
1,829,807
Total Revenue
$3,180,975
$2,966,110
$3,075,245
$3,098,705
$3,190,122
$3,283,555
$3,377,656
75
Personnel
Materials and Supplies
Operations and Contractual
Total Operating Budget
Village of Oak Brook
2014-2018 Five -Year Financial Plan
FIREFIGHTERS' PENSION FUND
Long -Range Operating Budget
2013 Budget 2013 Estimate 2014
4,300 4,075 4,300
0 0 0
11.1,20 5 108,020 114,275
$115,505 $112,095 $118,575
2015 2016
4,300 4,300
0 0
117,132 120,060
$121,432 $124,360
2017 2018
4,300 4,300
0 0
123,062 126,138
$127,362 $130,438
Exceptional Charges
Pension Benefits
$2,100,000
$2,108,415
$2,145,480
$2,252,500
$2,330,000
$2,430,000
$2,530,000
Pension Refunds
0
0
0
0
0
0
0
Total Exceptional Charges
$2,100,000
$2,108,415
$2,145,480
$2,252,500
$2,330,000
$2,430,000
$2,530,000
Total Budget
$2,215,505
$2,220,510
$2,264,055
$2,373,932
$2,454,360
$2,557,362
$2,660,438
76