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HomeMy WebLinkAbout01 - January 2025 Monthly Financial ReportVILLAGE OAK BROOKOF MONTHLY FINANCIAL REPORTS JANUARY 2025 Estimated YTD YTD Net Fund Ending YTD YTD Increase Fund Balance Governmental Funds Revenues Expenditures (Decrease)(Deficit) General Fund (Major Fund)2,443,371$ 2,967,188$ (523,817)$ 42,853,660$ Main operating fund of the Village. Hotel Fund (Major Fund)99,301$ 27,515$ 71,786$ 5,418,400$ Collects and spends resources from the 3% hotel/motel tax. Motor Fuel Tax Fund 38,609$ -$ 38,609$ 2,430,826$ Collects and spends resources from the State motor fuel tax. Infrastructure Fund (Major Fund)694,556$ 466,518$ 228,039$ 14,652,546$ Accounts for construction and maintenance of roadways, drainage, and safety path systems. Enterprise Funds Water Fund (Major Fund)951,125$ 319,890$ 631,234$ 22,549,877$ Collects user fees for the distribution of water and maintenance of infrastructure. Sports Core Fund (Major Fund)31,182$ 198,916$ (167,735)$ 2,736,154$ Accounts for revenues and expenses relating to administration, programs, food and beverage operations, and golf course. Internal Service Funds Insurance Fund 247,202$ 516,933$ (269,731)$ 127,899$ Accounts for the Village's health insurance costs and the related contributions from the Village, employees, retirees, and other agencies. Garage Fund 73,933$ 141,585$ (67,652)$ 376,010$ Accounts for the maintenance of the Village's vehicle fleet and the related departmental reimbursements. Equipment Replacement Fund 115,717$ -$ 115,717$ 3,733,403$ Accounts for the replacement of the Village's vehicle fleet and the related departmental contributions. Further information on the Village's major funds (as indicated above) can be found on the proceeding pages. Executive Summary on Village Funds Through January 31, 2025 1/31/25 1/31/25 1/31/24 1/31/25 YTD % of YTD 2025 Difference YTD YTD Amended Amended Adopted Prior Actual Actual Budget Budget Budget Year OPERATING REVENUES Sales Tax 1,415,205$ 1,573,889 1,437,500$ 109.5%17,250,000$ 158,683$ State Income Tax 130,196 149,171 108,333 137.7%1,300,000 18,975 Replacement Tax 79,910 57,599 45,833 125.7%550,000 (22,311) Road & Bridge Tax - - 2,917 0.0%35,000 - Local Use Tax 27,911 15,123 26,583 56.9%319,000 (12,788) Cannabis Use Tax 1,030 1,149 1,042 110.3%12,500 119 Grants - 4,180 14,260 29.3%171,120 4,180 Utility/Telecom. Tax 288,576 145,250 312,500 46.5%3,750,000 (143,326) Licenses and Permits 337,317 88,958 228,963 38.9%2,747,560 (248,359) Charges for Services 87,078 115,571 228,171 50.7%2,738,050 28,493 Investment Interest 162,788 85,203 83,333 102.2%1,000,000 (77,585) Miscellaneous Income 30,265 39,692 50,518 78.6%606,221 9,427 Total Operating Revenues 2,560,276$ 2,275,783$ 2,539,954$ 89.6%30,479,451$ (284,492)$ OPERATING EXPENDITURES Personnel 1,258,568$ 1,830,543$ 1,982,272$ 92.3%23,787,259$ 571,975$ Materials and Supplies 25,965 40,524 57,454 70.5%689,454 14,559$ Operation and Contract 104,855 1,087,678 609,377 178.5%7,312,523 982,823$ Other Expenditures 2,123 2,117 825 256.5%9,900 (7)$ Capital Outlay 865 6,327 51,048 12.4%612,575 5,462$ Total Operating Expenditures 1,392,377$ 2,967,188$ 2,700,976$ 109.9%32,411,711$ 1,574,812$ SURPLUS (DEFICIT) OF REVENUES OVER EXPENDITURES 1,167,899$ (691,405)$ (161,022)$ 429.4%(1,932,260)$ (1,859,304)$ INTERFUND TRANSACTIONS Transfers In -$ -$ -$ N/A -$ -$ Transfers Out N/A - Reimbursements From Other Funds - 167,588 167,589 100.0%2,011,062 167,588 Reimbursements To Other Funds - - - N/A - - Sports Core Loan N/A - - Total Interfund Transactions -$ 167,588$ 167,589$ 100.0%2,011,062$ 167,588$ NET FUND INCREASE (DECREASE)1,167,899$ (523,817)$ 6,567$ 78,802$ (1,691,716)$ *Includes the collection of Income Tax, Use Tax, Road & Bridge Tax, Personal Property Replacement Tax, and Cannabis Use Tax. Village of Oak Brook General Fund Financial Update For the Period Ending January 31, 2025 1/31/25 1/31/25 1/31/24 1/31/25 YTD % of YTD 2025 Difference YTD YTD Amended Amended Adopted Prior Actual Actual Budget Budget Budget Year OPERATING REVENUES Hotel Tax 158,844$ 86,385$ 116,667$ 74.0%1,400,000$ (72,459)$ Investment Interest 15,145 12,916 5,000 258.3%60,000 (2,229) Loan Interest - - - N/A - - Miscellaneous - - 42,042 504,500 - Total Operating Revenues 173,989$ 99,301$ 163,708$ 60.7%1,964,500$ (74,689)$ EXPENDITURES Personnel -$ 10,366$ 11,739$ 140,868$ -$ Operation and Contract - - 81,330 - 975,965 - Capital Outlay 12 - 49,479 0.0%593,750 (12) Total Expenditures 12$ 10,366$ 130,810$ 7.9%1,710,583$ (12)$ SURPLUS (DEFICIT) OF REVENUES OVER EXPENDITURES 173,977$ 88,935$ 21,160$ 420.3%253,917$ (74,677)$ INTERFUND TRANSACTIONS Transfer Out -$ -$ -$ N/A -$ -$ Reimbursements to Other Funds - (17,149) (17,149) 100.0%(205,791) (17,149) Total Interfund Transactions -$ (17,149)$ (17,149)$ 100.0%(205,791)$ (17,149)$ NET FUND INCREASE (DECREASE)173,977$ 71,786$ 4,010$ 48,126$ (91,826)$ Note - Expenditures are recorded in program 171. Village of Oak Brook Hotel Tax Fund Financial Update For the Period Ending January 31, 2025 1/31/25 1/31/25 1/31/24 1/31/25 YTD % of YTD 2025 Difference YTD YTD Amended Amended Adopted Prior Actual Actual Budget Budget Budget Year OPERATING REVENUES Non-Home Rule Sales Tax 611,860$ 644,801$ 582,917$ 110.6%6,995,000$ 32,940$ Charges for Services - - - N/A - -$ Investment Interest 66,214 49,756 33,333 149.3%400,000 (16,458) Grants - - - N/A - - Miscellaneous - - - N/A - - Total Operating Revenues 678,074$ 694,556$ 616,250$ 112.7%7,395,000$ 16,482$ OPERATING EXPENDITURES Personnel 24,778$ 4,797$ -$ N/A -$ (19,981)$ Materials and Supplies 32 - 3,983 0.0%47,800 (32) Operation and Contract 13,120 123,187 190,684 64.6%2,288,213 110,067 Other Expenditures - - - N/A - Capital Outlay 512 280,041 375,931 74.5%4,511,174 279,530 Total Operating Expenditures 38,442$ 408,026$ 570,599$ 71.5%6,847,187$ 369,584$ SURPLUS (DEFICIT) OF REVENUES OVER EXPENDITURES 639,632$ 286,531$ 45,651$ 627.7%547,813$ (353,102)$ INTERFUND TRANSACTIONS Transfers In -$ -$ -$ N/A -$ -$ Reimbursements From Other Funds - - 16,667 0.0%200,000 - Reimbursements To Other Funds - (58,492) (58,492) 100.0%(701,906) (58,492) Total Interfund Transactions -$ (58,492)$ (41,826)$ 139.8%(501,906)$ (58,492)$ NET FUND INCREASE (DECREASE)639,632$ 228,039$ 3,826$ 45,907$ (411,594)$ Village of Oak Brook Infrastructure Fund Financial Update For the Period Ending January 31, 2025 1/31/25 1/31/25 1/31/24 1/31/25 YTD % of YTD 2025 Difference YTD YTD Amended Amended Adopted Prior Actual Actual Budget Budget Budget Year OPERATING REVENUES Plan Review Fees 152$ 75$ 44$ 171.4%525$ (77)$ Building/Inspection Fees - - 125 0.0%1,500 - Water Sales 835,975 850,381 942,433 90.2%11,309,195 14,407 Unmetered Sales 600 600 5,000 12.0%60,000 - Water Connection Fees 5,980 6,440 6,167 104.4%74,000 460 Fire Service Charge - - - N/A - - Meter Charges 1,241 2,775 1,250 222.0%15,000 1,534 Special Services - - 1,250 0.0%15,000 - Investment Interest 115,612 84,601 58,333 145.0%700,000 (31,010) Proceeds from Property Sale - - - N/A - - Miscellaneous 5,801 6,252 6,250 100.0%75,000 450 Total Operating Revenues 965,360$ 951,125$ 1,020,852$ 93.2%12,250,220$ (14,236)$ OPERATING EXPENDITURES Personnel 53,522$ 45,327$ 54,773$ 82.8%657,277$ (8,194)$ Materials and Supplies 10,351 4,015 9,973 40.3%119,671 (6,336) Operation and Contract 11,604 221,447 575,297 38.5%6,903,559 209,843 Capital Outlay - - 646,183 0.0%7,754,190 - Total Expenditures 75,477$ 270,789$ 1,286,225$ 21.1%15,434,696$ 195,313$ Surplus (Deficit) of Revenues Over Expenditures 889,884$ 680,335$ (265,373)$ -256.4%(3,184,476)$ (209,548)$ INTERFUND TRANSACTIONS Reimbursements To Other Funds -$ (49,101)$ (49,100)$ 100.0%(589,202)$ (49,101)$ Total Interfund Transactions -$ (49,101)$ (49,100)$ 100.0%(589,202)$ (49,101)$ Fund Increase/(Decrease) - Budgetary Basis 889,884$ 631,234$ (314,473)$ (3,773,678)$ (258,649)$ ADUSTMENTS TO GAAP BASIS* Remove Capital Outlay -$ -$ Depreciation Expense (47,917) (47,917) IMRF Pension Expense (3,750) (3,750) OPEB Expense (2,500) (2,500) Total GAAP Adjustments (54,167)$ (54,167)$ Fund Increase/(Decrease) - GAAP Basis 835,717$ 577,068$ *Estimates based on historical year-end audit adjustments. Actual amounts are not measured and recorded until the end of the year. Village of Oak Brook Water Fund Financial Update For the Period Ending January 31, 2025 Village of Oak Brook Monthly Operating Statement Sports Core Fund Consolidated Presentation For the Period Ending January 31, 2025 1/31/25 1/31/25 1/31/25 YTD % of YTD 2025 1/31/24 Difference B&T Recreation Field Clubhouse Golf YTD Amended Amended Adopted YTD Prior Operations Operations Operations Club Total Budget Budget Budget Total Year OPERATING REVENUES Memberships -$ -$ -$ 5,775$ 5,775$ 79,967$ 7.2%959,607$ -$ 5,775$ Greens Fees - - - - - 155,499 0.0%1,865,990 - - Pro Shop Sales - - - 1,201 1,201 15,000 8.0%180,000 - 1,201 Golf Lessons - - - - - 3,750 0.0%45,000 - - Driving Range Fees - - - 11 11 55,115 0.0%661,382 - 11 Golf Surcharge - - - - - 18,750 0.0%225,000 Rentals - 2,500 13,203 2,750 18,453 91,833 20.1%1,102,000 12,053 6,400 Programs/User Fees - - - - - 17,150 0.0%205,800 - - Food Sales - - - - - 4,815 0.0%57,780 - - Beverage Sales - - - 884 884 6,573 13.4%78,880 - 884 Grants - - - - - - N/A - - - Other Revenue 254 - - 1,270 1,524 8,167 18.7%98,000 440 1,084 Total Operating Revenues 254$ 2,500$ 13,203$ 11,891$ 27,848$ 456,620$ 6.1%5,479,439$ 12,493$ 15,354$ OPERATING EXPENDITURES Personnel 14,764$ -$ -$ 52,918$ 67,682$ 137,589$ 49.2%1,651,064$ 42,388$ 25,294$ Materials & Supplies 2,975 - - 547 3,522 35,503 9.9%426,030 988 2,535 Operational & Contractual 71,190 244 700 9,398 81,533 100,976 80.7%1,211,708 36,037 45,495 Other - - - - - - N/A - - - Capital - - - - - 130,829 0.0%1,569,954 - - Total Operating Expenditures 88,929$ 244$ 700$ 62,863$ 152,736$ 404,896$ 37.7%4,858,755$ 79,413$ 73,323$ B&T Administration Overhead Allocation*54,670$ (4,646)$ (10,075)$ (39,949)$ -$ -$ N/A -$ -$ -$ Operating Revenues Over (Under) Expenditures (34,005)$ (2,390)$ 2,428$ (90,921)$ (124,889)$ 51,724$ -241.5%620,684$ (66,920)$ (57,969)$ INTERFUND TRANSACTIONS Reimbursement From Infrastructure Fund 3,334$ -$ -$ -$ 3,334$ -$ N/A -$ -$ 3,334.00$ Reimbursement From Water Fund - - - - - 3,333 0.0%40,000 - - Reimbursement To General Fund (46,180) - - - (46,180) (46,176) 100.0%(554,106) - (46,180) Total Interfund Transactions (42,846)$ -$ -$ -$ (42,846)$ (42,842)$ 100.0%(514,106)$ -$ (42,846)$ Total Revenues Over (Under) Expenditures - Budgetary Basis (76,851)$ (2,390)$ 2,428$ (90,921)$ (167,735)$ 8,881$ 106,578$ (66,920)$ (100,815)$ *Overhead allocation is comprised of salaries, business forms, liability insurance, building & grounds maintenance and bank service fees in Program 811 - Sports Core General Operations distributed to various Sports Core Programs on a % basis. **Estimates based on historical year-end audit adjustments. Actual amounts are not measured and recorded until the end of the year. Village of Oak Brook Monthly Operating Statement Bath & Tennis Club Recreation Operations For the Period Ending January 31, 2025 1/31/25 1/31/25 822 1/31/25 YTD % of YTD 2025 1/31/24 Difference 811 812 813 Poolside YTD Adopted Amended Adopted YTD Prior B&T Admin Swimming Tennis Café Total Budget Budget Budget Total Year OPERATING REVENUES Memberships -$ -$ -$ -$ -$ 41,898$ 0.0%502,782$ -$ -$ Programs/User Fees - - - - - 17,150 0.0%205,800 - - Food Sales - - - - - 669 0.0%8,030 - - Beverage Sales - - - - - 303 0.0%3,630 - - Grants - - - - - - N/A - - - Other Revenue 4 - - 250 254 7,583 3.3%91,000 300 (46) Total Operating Revenues 4$ -$ -$ 250$ 254$ 67,603$ 0.4%811,242$ 300$ (46)$ OPERATING EXPENDITURES Personnel 14,643$ 121$ -$ -$ 14,764$ 24,218$ 61.0%290,617$ -$ 14,764$ Materials & Supplies - 2,975 - - 2,975 2,346 126.8%28,155 63 2,912 Operational & Contractual 61,191 10,000 - - 71,190 53,612 132.8%643,347 20,776 50,414 Other - - - - - - N/A - - - Capital - - - - - 59,908 0.0%718,900 - - Total Operating Expenditures 75,834$ 13,095$ -$ -$ 88,929$ 140,085$ 63.5%1,681,019$ 20,840$ 68,089$ B&T Administration Overhead Allocation*69,334$ (11,544)$ (2,287)$ (833)$ 54,670$ 54,670 100.0%656,036$ -$ 54,670$ Operating Revenues Over (Under) Expenditures (6,496)$ (24,639)$ (2,287)$ (583)$ (34,005)$ (17,812)$ 190.9%(213,742)$ (20,539)$ (13,466)$ INTERFUND TRANSACTIONS Reimbursement From Infrastructure Fund 3,334$ -$ -$ -$ 3,334$ -$ N/A -$ -$ 3,334.00$ Reimbursement From Water Fund - - - - - 3,333 0.0%40,000 - - Reimbursement To General Fund (46,180) - - - (46,180) (46,176) 100.0%(554,106) - (46,180) Total Interfund Transactions (42,846)$ -$ -$ -$ (42,846)$ (42,842)$ 100.0%(514,106)$ -$ (42,846)$ Total Revenues Over (Under) Expenditures - Budgetary Basis (49,342)$ (24,639)$ (2,287)$ (583)$ (76,851)$ (60,654)$ (727,848)$ (20,539)$ (56,312)$ *Overhead allocation is comprised of salaries, business forms, liability insurance, building & grounds maintenance and bank service fees in Program 811 - Sports Core General Operations distributed to various Sports Core Programs on a percentage basis. **Estimates based on historical year-end audit adjustments. Actual amounts are not measured and recorded until the end of the year. Village of Oak Brook Monthly Operating Statement Open Fields Operations For the Period Ending January 31, 2025 1/31/25 1/31/25 1/31/25 YTD % of YTD 2025 1/31/24 Difference 815 816 YTD Amended Amended Adopted YTD Prior Polo Open Fields Total Budget Budget Budget Total Year OPERATING REVENUES Field Rentals -$ 2,500$ 2,500$ 16,917$ 14.8%203,000$ -$ 2,500$ Range Rentals - - - - N/A - - - Taste of Oak Brook - - - - N/A - - - Other Revenue - - - N/A - - - Total Operating Revenues -$ 2,500$ 2,500$ 16,917$ 14.8%203,000$ -$ 2,500$ OPERATING EXPENDITURES Personnel -$ -$ -$ -$ N/A -$ -$ -$ Materials & Supplies - - - 791 0.0%9,490 - - Operational & Contractual - 244 244 6,335 3.9%76,022 - 244 Capital - - - - N/A - - - Total Operating Expenditures -$ 244$ 244$ 7,126$ 3.4%85,512$ -$ 244$ B&T Administration Overhead Allocation*-$ (4,646)$ (4,646)$ (4,646) 100.0%(55,754)$ -$ (4,646)$ Total Revenues Over (Under) Expenditures - Budgetary Basis -$ (2,390)$ (2,390)$ 5,144$ -46.5%61,733$ -$ (2,390)$ *Overhead allocation is comprised of salaries, business forms, liability insurance, building & grounds maintenance and bank service fees in Program 811 - Sports Core General Operations distributed to various Sports Core Programs on a percentage basis. **Estimates based on historical year-end audit adjustments. Actual amounts are not measured and recorded until the end of the year. Village of Oak Brook Monthly Operating Statement Bath & Tennis Clubhouse Operations For the Period Ending January 31, 2025 1/31/25 1/31/25 821 YTD % of YTD 2025 1/31/24 Difference B&T Amended Amended Adopted YTD Prior Clubhouse Budget Budget Budget Total Year OPERATING REVENUES Rentals 13,203$ 19,500$ 67.7%234,000$ 12,053$ 1,150$ Other Revenue - - 0.0%- - - Total Operating Revenues 13,203$ 19,500$ 67.7%234,000$ 12,053$ 1,150$ OPERATING EXPENDITURES Personnel -$ -$ N/A -$ -$ -$ Materials & Supplies - 1,146 0.0%13,750 740 (740) Operational & Contractual 700 3,364 20.8%40,365 1,383 (683) Capital - - N/A - - - Total Operating Expenditures 700$ 4,510$ 15.5%54,115$ 2,122$ (1,422)$ B&T Administration Overhead Allocation*(10,075)$ (10,075) 100.0%(120,895)$ -$ (10,075)$ Operating Revenues Over (Under) Expenditures 2,428$ 4,916$ 49.4%58,990$ 9,931$ (7,502)$ Total Revenues Over (Under) Expenditures - Budgetary Basis 2,428$ 4,916$ 58,990$ 9,931$ (7,502)$ *Overhead allocation is comprised of salaries, business forms, liability insurance, building & grounds maintenance and bank service fees in Program 811 - Sports Core General Operations distributed to various Sports Core Programs on a percentage basis. **Estimates based on historical year-end audit adjustments. Actual amounts are not measured and recorded until the end of the year. Village of Oak Brook Monthly Operating Statement Golf Club Programs For the Period Ending January 31, 2025 1/31/25 1/31/25 823 831 832 833 834 844 1/31/25 YTD % of YTD 2025 1/31/24 Difference Golf Golf General Golf Learning Golf Cart Golf Course Golf YTD Amended Amended Adopted YTD Prior Café Operation & Practice Operations Maintenance Surcharge Total Budget Budget Budget Total Year OPERATING REVENUES Memberships -$ 5,775$ -$ -$ -$ -$ 5,775$ 38,069$ 15.2%456,825$ -$ 5,775$ Greens Fees - - - - - - - 155,499 0.0%1,865,990 - - Pro Shop Sales - 1,201 - - - - 1,201 15,000 8.0%180,000 - 1,201 Golf Lessons - - - - - - - 3,750 0.0%45,000 - - Driving Range Fees - - 11 - - - 11 55,115 0.0%661,382 - 11 Rentals 2,750 - - - - - 2,750 55,417 5.0%665,000 - 2,750 Food Sales - - - - - - - 4,146 0.0%49,750 - - Beverage Sales 884 - - - - - 884 6,271 14.1%75,250 - 884 Golf Surcharge - - - - - - - 18,750 0.0%225,000 Other Revenue - 1,270 - - - - 1,270 583 217.7%7,000 140 1,130 Total Operating Revenues 3,634$ 8,246$ 11$ -$ -$ -$ 11,891$ 352,600$ 3.4%4,231,197$ 140$ 11,751$ OPERATING EXPENDITURES Personnel -$ 18,921$ -$ -$ 33,997$ -$ 52,918$ 113,371$ 46.7%1,360,447$ 42,388$ 10,530$ Materials & Supplies - 240 - - 307 - 547 31,220 1.8%374,635 184 363 Operational & Contractual - 2,296 - - 7,102 - 9,398 37,664 25.0%451,973 13,879 (4,481) Other - - - - - - - - N/A - - - Capital - - - - - - - 70,921 0.0%851,054 - - Total Operating Expenditures -$ 21,458$ -$ -$ 41,405$ -$ 62,863$ 253,176$ 24.8%3,038,108$ 56,451$ 6,412$ Operating Revenues Over (Under) Expenditures 3,634$ (13,212)$ 11$ -$ (41,405)$ -$ (50,972)$ 99,424$ -51.3%1,193,089$ (56,311)$ 5,339$ B&T Administration Overhead Allocation*-$ (39,949)$ -$ -$ -$ -$ (39,949)$ (39,949) 100.0%(479,387)$ -$ (39,949)$ Total Revenues Over (Under) Expenditures - Budgetary Basis 3,634$ (53,161)$ 11$ -$ (41,405)$ -$ (90,921)$ 59,475$ 713,702$ (56,311)$ (34,610)$ *Estimates based on historical year-end audit adjustments. Actual amounts are not measured and recorded until the end of the year.