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HomeMy WebLinkAbout04 - April 2025 Fund Financial ReportVILLAGE OAK BROOKOF MONTHLY FINANCIAL REPORTS APRIL 2025 Estimated YTD YTD Net Fund Ending YTD YTD Increase Fund Balance Governmental Funds Revenues Expenditures (Decrease)(Deficit) General Fund (Major Fund)10,986,069$ 9,616,928$ 1,369,141$ 44,746,618$ Main operating fund of the Village. Hotel Fund (Major Fund)597,224$ 244,103$ 353,121$ 5,699,736$ Collects and spends resources from the 3% hotel/motel tax. Motor Fuel Tax Fund 146,676$ 72,635$ 74,041$ 2,466,257$ Collects and spends resources from the State motor fuel tax. Infrastructure Fund (Major Fund)3,221,031$ 948,929$ 2,272,101$ 16,696,609$ Accounts for construction and maintenance of roadways, drainage, and safety path systems. Enterprise Funds Water Fund (Major Fund)3,011,097$ 2,197,816$ 813,281$ 22,731,924$ Collects user fees for the distribution of water and maintenance of infrastructure. Sports Core Fund (Major Fund)1,398,157$ 1,099,747$ 298,410$ 3,202,299$ Accounts for revenues and expenses relating to administration, programs, food and beverage operations, and golf course. Internal Service Funds Insurance Fund 1,002,056$ 1,303,251$ (301,196)$ 96,434$ Accounts for the Village's health insurance costs and the related contributions from the Village, employees, retirees, and other agencies. Garage Fund 294,986$ 279,496$ 15,490$ 459,152$ Accounts for the maintenance of the Village's vehicle fleet and the related departmental reimbursements. Equipment Replacement Fund 480,650$ 174,455$ 306,195$ 3,923,880$ 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 April 30, 2025 4/30/25 4/30/25 4/30/24 4/30/25 YTD % of YTD 2025 Difference YTD YTD Amended Amended Adopted Prior Actual Actual Budget Budget Budget Year OPERATING REVENUES Sales Tax 6,116,429$ 6,837,771 5,750,000$ 118.9%17,250,000$ 721,342$ State Income Tax 459,878 492,399 433,333 113.6%1,300,000 32,521 Replacement Tax 196,566 113,951 183,333 62.2%550,000 (82,615) Road & Bridge Tax 6,362 1 11,667 0.0%35,000 (6,361) Local Use Tax 111,173 78,558 106,333 73.9%319,000 (32,616) Cannabis Use Tax 4,551 4,346 4,167 104.3%12,500 (205) Grants 154,300 5,320 57,040 9.3%171,120 (148,980) Utility/Telecom. Tax 1,080,456 1,018,590 1,250,000 81.5%3,750,000 (61,866) Licenses and Permits 800,016 585,170 915,853 63.9%2,747,560 (214,847) Charges for Services 868,618 497,524 912,683 54.5%2,738,050 (371,095) Investment Interest 557,146 499,189 333,333 149.8%1,000,000 (57,957) Miscellaneous Income 329,420 182,900 202,074 90.5%606,221 (146,521) Total Operating Revenues 10,684,916$ 10,315,717$ 10,159,817$ 101.5%30,479,451$ (369,199)$ OPERATING EXPENDITURES Personnel 6,379,178$ 7,148,941$ 7,929,086$ 90.2%23,787,259$ 769,763$ Materials and Supplies 165,308 166,239 229,818 72.3%689,454 930$ Operation and Contract 2,173,314 2,230,025 2,437,508 91.5%7,312,523 56,711$ Other Expenditures 2,123 3,961 3,300 120.0%9,900 1,837$ Capital Outlay 73,981 67,763 204,192 33.2%612,575 (6,219)$ Total Operating Expenditures 8,793,904$ 9,616,928$ 10,803,904$ 89.0%32,411,711$ 823,023$ SURPLUS (DEFICIT) OF REVENUES OVER EXPENDITURES 1,891,012$ 698,789$ (644,087)$ -108.5%(1,932,260)$ (1,192,223)$ INTERFUND TRANSACTIONS Transfers In -$ -$ -$ N/A -$ -$ Transfers Out N/A - Reimbursements From Other Funds 291,980 670,352 670,354 100.0%2,011,062 378,372 Reimbursements To Other Funds - - - N/A - - Sports Core Loan N/A - - Total Interfund Transactions 291,980$ 670,352$ 670,354$ 100.0%2,011,062$ 378,372$ NET FUND INCREASE (DECREASE)2,182,992$ 1,369,141$ 26,267$ 78,802$ (813,851)$ *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 April 30, 2025 4/30/25 4/30/25 4/30/24 4/30/25 YTD % of YTD 2025 Difference YTD YTD Amended Amended Adopted Prior Actual Actual Budget Budget Budget Year OPERATING REVENUES Hotel Tax 441,499$ 426,733$ 466,667$ 91.4%1,400,000$ (14,766)$ Investment Interest 54,308 65,992 20,000 330.0%60,000 11,684 Loan Interest - - - N/A - - Miscellaneous - 104,500 168,167 504,500 104,500 Total Operating Revenues 495,807$ 597,224$ 654,833$ 91.2%1,964,500$ 101,417$ EXPENDITURES Personnel -$ 41,732$ 46,956$ 140,868$ -$ Operation and Contract (54,458) 94,883 325,322 0.29 975,965 149,340.58 Capital Outlay 2,906 38,892 197,917 19.7%593,750 35,986 Total Expenditures (51,552)$ 175,507$ 523,238$ 33.5%1,710,583$ 185,327$ SURPLUS (DEFICIT) OF REVENUES OVER EXPENDITURES 547,359$ 421,717$ 84,639$ 498.3%253,917$ (83,909)$ INTERFUND TRANSACTIONS Transfer Out -$ -$ -$ N/A -$ -$ Reimbursements to Other Funds (81,304) (68,596) (68,597) 100.0%(205,791) 12,708 Total Interfund Transactions (81,304)$ (68,596)$ (68,597)$ 100.0%(205,791)$ 12,708$ NET FUND INCREASE (DECREASE)466,055$ 353,121$ 16,042$ 48,126$ (71,201)$ Note - Expenditures are recorded in program 171. Village of Oak Brook Hotel Tax Fund Financial Update For the Period Ending April 30, 2025 4/30/25 4/30/25 4/30/24 4/30/25 YTD % of YTD 2025 Difference YTD YTD Amended Amended Adopted Prior Actual Actual Budget Budget Budget Year OPERATING REVENUES Non-Home Rule Sales Tax 2,676,068$ 2,962,957$ 2,331,667$ 127.1%6,995,000$ 286,889$ Charges for Services - - - N/A - -$ Investment Interest 245,813 258,074 133,333 193.6%400,000 12,260 Grants - - - N/A - - Miscellaneous 1,990 - - N/A - (1,990) Total Operating Revenues 2,923,871$ 3,221,031$ 2,465,000$ 130.7%7,395,000$ 297,159$ OPERATING EXPENDITURES Personnel 55,208$ 14,120$ -$ N/A -$ (41,088)$ Materials and Supplies 137 2,825 15,933 17.7%47,800 2,688 Operation and Contract 230,421 401,483 762,738 52.6%2,288,213 171,062 Other Expenditures - - - N/A - Capital Outlay 448,494 296,533 1,503,725 19.7%4,511,174 (151,961) Total Operating Expenditures 734,261$ 714,961$ 2,282,396$ 31.3%6,847,187$ (19,299)$ SURPLUS (DEFICIT) OF REVENUES OVER EXPENDITURES 2,189,611$ 2,506,069$ 182,604$ 1372.4%547,813$ 316,459$ INTERFUND TRANSACTIONS Transfers In -$ -$ -$ N/A -$ -$ Reimbursements From Other Funds - - 66,667 0.0%200,000 - Reimbursements To Other Funds (10,668) (233,968) (233,969) 100.0%(701,906) (223,300) Total Interfund Transactions (10,668)$ (233,968)$ (167,302)$ 139.8%(501,906)$ (223,300)$ NET FUND INCREASE (DECREASE)2,178,943$ 2,272,101$ 15,302$ 45,907$ 93,159$ Village of Oak Brook Infrastructure Fund Financial Update For the Period Ending April 30, 2025 4/30/25 4/30/25 4/30/24 4/30/25 YTD % of YTD 2025 Difference YTD YTD Amended Amended Adopted Prior Actual Actual Budget Budget Budget Year OPERATING REVENUES Plan Review Fees 152$ 525$ 175$ 300.0%525$ 373$ Building/Inspection Fees - - 500 0.0%1,500 - Water Sales 2,462,683 2,524,117 3,769,732 67.0%11,309,195 61,434 Unmetered Sales 17,669 4,647 20,000 23.2%60,000 (13,022) Water Connection Fees 20,240 22,310 24,667 90.4%74,000 2,070 Fire Service Charge - - - N/A - - Meter Charges 4,500 8,537 5,000 170.7%15,000 4,037 Special Services - - 5,000 0.0%15,000 - Investment Interest 431,154 401,900 233,333 172.2%700,000 (29,255) Proceeds from Property Sale - - - N/A - - Miscellaneous 33,093 49,062 25,000 196.2%75,000 15,968 Total Operating Revenues 2,969,492$ 3,011,097$ 4,083,407$ 73.7%12,250,220$ 41,606$ OPERATING EXPENDITURES Personnel 208,781$ 187,003$ 219,092$ 85.4%657,277$ (21,778)$ Materials and Supplies 32,610 50,705 39,890 127.1%119,671 18,095 Operation and Contract 1,252,091 1,613,326 2,301,186 70.1%6,903,559 361,235 Capital Outlay 101 150,378 2,584,730 5.8%7,754,190 150,277 Total Expenditures 1,493,583$ 2,001,412$ 5,144,899$ 38.9%15,434,696$ 507,829$ Surplus (Deficit) of Revenues Over Expenditures 1,475,908$ 1,009,685$ (1,061,492)$ -95.1%(3,184,476)$ (466,223)$ INTERFUND TRANSACTIONS Reimbursements To Other Funds (145,628)$ (196,404)$ (196,401)$ 100.0%(589,202)$ (50,776)$ Total Interfund Transactions (145,628)$ (196,404)$ (196,401)$ 100.0%(589,202)$ (50,776)$ Fund Increase/(Decrease) - Budgetary Basis 1,330,280$ 813,281$ (1,257,893)$ (3,773,678)$ (516,999)$ *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 April 30, 2025 Village of Oak Brook Monthly Operating Statement Sports Core Fund Consolidated Presentation For the Period Ending April 30, 2025 4/30/25 4/30/25 4/30/25 YTD % of YTD 2025 4/30/24 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 463,466$ -$ -$ 337,550$ 801,016$ 319,869$ 250.4%959,607$ 600,085$ 200,931$ Greens Fees - - - 154,330 154,330 621,997 24.8%1,865,990 165,047 (10,717) Pro Shop Sales - - - 22,312 22,312 60,000 37.2%180,000 17,202 5,111 Golf Lessons - - - 42,950 42,950 15,000 286.3%45,000 20,825 22,125 Driving Range Fees - - - 160,835 160,835 220,461 73.0%661,382 134,590 26,245 Golf Surcharge - - - 19,700 19,700 75,000 26.3%225,000 - 19,700 Rentals - 29,222 55,282 62,235 146,739 367,333 39.9%1,102,000 131,420 15,318 Programs/User Fees 10,714 - - - 10,714 68,600 15.6%205,800 3,530 7,184 Food Sales - - - 2,157 2,157 19,260 11.2%57,780 990 1,168 Beverage Sales - - - 884 884 26,293 3.4%78,880 - 884 Grants - - - - - - N/A - - - Other Revenue 3,684 - - 19,500 23,185 32,667 71.0%98,000 92,880 (69,695) Total Operating Revenues 477,864$ 29,222$ 55,282$ 822,453$ 1,384,821$ 1,826,480$ 75.8%5,479,439$ 1,166,567$ 218,254$ OPERATING EXPENDITURES Personnel 59,458$ -$ -$ 239,815$ 299,272$ 550,355$ 54.4%1,651,064$ 243,247$ 56,025$ Materials & Supplies 16,659 - 137 83,639 100,435 142,010 70.7%426,030 86,394 14,041 Operational & Contractual 214,367 19,126 12,514 74,972 320,979 403,903 79.5%1,211,708 341,967 (20,988) Other - - - - - - N/A - 120,325 (120,325) Capital 10,088 - - 184,253 194,341 523,318 37.1%1,569,954 764,126 (569,785) Total Operating Expenditures 300,572$ 19,126$ 12,651$ 582,678$ 915,027$ 1,619,585$ 56.5%4,858,755$ 1,556,059$ (641,032)$ B&T Administration Overhead Allocation*218,679$ (18,585)$ (40,298)$ (159,796)$ -$ -$ N/A -$ 8,319$ 8,319$ Operating Revenues Over (Under) Expenditures 395,971$ (8,489)$ 2,333$ 79,979$ 469,794$ 206,895$ 227.1%620,684$ (381,172)$ 867,605$ INTERFUND TRANSACTIONS Reimbursement From Other Funds 13,336$ -$ -$ -$ 13,336$ 13,333$ 100.0%40,000$ 13,336$ -$ Reimbursement To General Fund (184,720) - - - (184,720) (184,702) 100.0%(554,106) (38,091) (146,629) Total Interfund Transactions (171,384)$ -$ -$ -$ (171,384)$ (171,369)$ 100.0%(514,106)$ (24,755)$ (146,629)$ Total Revenues Over (Under) Expenditures - Budgetary Basis 224,587$ (8,489)$ 2,333$ 79,979$ 298,410$ 35,526$ 106,578$ (405,927)$ 720,976$ *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 April 30, 2025 4/30/25 4/30/25 822 4/30/25 YTD % of YTD 2025 4/30/24 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 -$ 447,725$ 15,741$ -$ 463,466$ 167,594$ 276.5%502,782$ 241,635$ 221,831$ Programs/User Fees - 9,474 1,240 - 10,714 68,600 15.6%205,800 3,530 7,184 Food Sales - - - - - 2,677 0.0%8,030 - - Beverage Sales - - - - - 1,210 0.0%3,630 - - Grants - - - - - - N/A - - - Other Revenue 2,684 - - 1,000 3,684 30,333 12.1%91,000 91,441 (87,756) Total Operating Revenues 2,684$ 457,199$ 16,981$ 1,000$ 477,864$ 270,414$ 176.7%811,242$ 336,606$ 141,259$ OPERATING EXPENDITURES Personnel 59,337$ 121$ -$ -$ 59,458$ 96,872$ 61.4%290,617$ -$ 59,458$ Materials & Supplies - 16,473 187 - 16,659 9,385 177.5%28,155 11,586 5,073 Operational & Contractual 70,009 121,147 23,210 - 214,367 214,449 100.0%643,347 189,777 24,590 Other - - - - - - N/A - 16,928 (16,928) Capital 89 10,000 - - 10,088 239,633 4.2%718,900 82,586 (72,498) Total Operating Expenditures 129,435$ 147,740$ 23,397$ -$ 300,572$ 560,340$ 53.6%1,681,019$ 300,877$ (305)$ B&T Administration Overhead Allocation*277,336$ (46,175)$ (9,149)$ (3,333)$ 218,679$ 218,679 100.0%656,036$ 12,486$ 206,193$ Operating Revenues Over (Under) Expenditures 150,585$ 263,284$ (15,564)$ (2,333)$ 395,971$ (71,247)$ -555.8%(213,742)$ 48,214$ 347,757$ INTERFUND TRANSACTIONS Reimbursement From Other Fund 13,336$ -$ -$ -$ 13,336$ 13,333$ 100.0%40,000$ 13,336$ -$ Reimbursement To General Fund (184,720) - - - (184,720) (184,702) 100.0%(554,106) - (184,720) Total Interfund Transactions (171,384)$ -$ -$ -$ (171,384)$ (171,369)$ 100.0%(514,106)$ 13,336$ (184,720)$ Total Revenues Over (Under) Expenditures - Budgetary Basis (20,799)$ 263,284$ (15,564)$ (2,333)$ 224,587$ (242,616)$ (727,848)$ 61,550$ 163,037$ *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 April 30, 2025 4/30/25 4/30/25 4/30/25 YTD % of YTD 2025 4/30/24 Difference 815 816 YTD Amended Amended Adopted YTD Prior Polo Open Fields Total Budget Budget Budget Total Year OPERATING REVENUES Field Rentals -$ 29,222$ 29,222$ 67,667$ 43.2%203,000$ 26,111$ 3,111$ Range Rentals - - - - N/A - - - Taste of Oak Brook - - - - N/A - - - Other Revenue - - - N/A - - - Total Operating Revenues -$ 29,222$ 29,222$ 67,667$ 43.2%203,000$ 26,111$ 3,111$ OPERATING EXPENDITURES Personnel -$ -$ -$ -$ N/A -$ -$ -$ Materials & Supplies - - - 3,163 0.0%9,490 - - Operational & Contractual - 19,126 19,126 25,341 75.5%76,022 19,651 (525) Capital - - - - N/A - - - Total Operating Expenditures -$ 19,126$ 19,126$ 28,504$ 67.1%85,512$ 19,651$ (525)$ B&T Administration Overhead Allocation*-$ (18,585)$ (18,585)$ (18,585) 100.0%(55,754)$ -$ (18,585)$ Total Revenues Over (Under) Expenditures - Budgetary Basis -$ (8,489)$ (8,489)$ 20,578$ -41.3%61,733$ 6,460$ (14,949)$ *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 April 30, 2025 4/30/25 4/30/25 821 YTD % of YTD 2025 4/30/24 Difference B&T Amended Amended Adopted YTD Prior Clubhouse Budget Budget Budget Total Year OPERATING REVENUES Rentals 55,282$ 78,000$ 70.9%234,000$ 32,492$ 22,790$ Other Revenue - - 0.0%- - - Total Operating Revenues 55,282$ 78,000$ 70.9%234,000$ 32,492$ 22,790$ OPERATING EXPENDITURES Personnel -$ -$ N/A -$ -$ -$ Materials & Supplies 137 4,583 3.0%13,750 4,223 (4,086) Operational & Contractual 12,514 13,455 93.0%40,365 15,953 (3,439) Capital - - N/A - - - Total Operating Expenditures 12,651$ 18,038$ 70.1%54,115$ 20,175$ (7,525)$ B&T Administration Overhead Allocation*(40,298)$ (40,298) 100.0%(120,895)$ (4,167)$ (36,132)$ Operating Revenues Over (Under) Expenditures 2,333$ 19,663$ 11.9%58,990$ 8,150$ (5,817)$ Total Revenues Over (Under) Expenditures - Budgetary Basis 2,333$ 19,663$ 58,990$ 8,150$ (5,817)$ *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 April 30, 2025 4/30/25 4/30/25 823 831 832 833 834 844 4/30/25 YTD % of YTD 2025 4/30/24 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 -$ 337,550$ -$ -$ -$ -$ 337,550$ 152,275$ 221.7%456,825$ 358,450$ (20,900)$ Greens Fees - 154,330 - - - - 154,330 621,997 24.8%1,865,990 165,047 (10,717) Pro Shop Sales - 22,312 - - - - 22,312 60,000 37.2%180,000 17,202 5,111 Golf Lessons - - 42,950 - - - 42,950 15,000 286.3%45,000 20,825 22,125 Driving Range Fees - - 160,835 - - - 160,835 220,461 73.0%661,382 134,590 26,245 Rentals 11,450 775 5,000 45,010 - - 62,235 221,667 28.1%665,000 72,817 (10,583) Food Sales 2,157 - - - - - 2,157 16,583 13.0%49,750 990 1,168 Beverage Sales 884 - - - - - 884 25,083 3.5%75,250 - 884 Golf Surcharge - - - - - 19,700 19,700 75,000 26.3%225,000 - 19,700 Other Revenue - 19,500 - - - - 19,500 2,333 835.7%7,000 1,439 18,061 Total Operating Revenues 14,491$ 534,468$ 208,785$ 45,010$ -$ 19,700$ 822,453$ 1,410,399$ 58.3%4,231,197$ 771,359$ 51,094$ OPERATING EXPENDITURES Personnel -$ 88,619$ 1,437$ 2,320$ 147,439$ -$ 239,815$ 453,482$ 52.9%1,360,447$ 243,247$ (3,432)$ Materials & Supplies (783) 14,462 25,891 - 44,068 - 83,639 124,878 67.0%374,635 70,585 13,054 Operational & Contractual - 50,530 6,400 2,480 15,562 - 74,972 150,658 49.8%451,973 116,586 (41,614) Other - - - - - - - - N/A - 103,397 (103,397) Capital - 62,032 - 48,470 73,750 - 184,253 283,685 64.9%851,054 681,540 (497,287) Total Operating Expenditures (783)$ 215,643$ 33,728$ 53,271$ 280,819$ -$ 582,678$ 1,012,703$ 57.5%3,038,108$ 1,215,355$ (632,677)$ Operating Revenues Over (Under) Expenditures 15,273$ 318,825$ 175,057$ (8,261)$ (280,819)$ 19,700$ 239,775$ 397,696$ 60.3%1,193,089$ (443,996)$ 683,772$ B&T Administration Overhead Allocation*-$ (159,796)$ -$ -$ -$ -$ (159,796)$ (159,796) 100.0%(479,387)$ -$ (159,796)$ INTERFUND TRANSACTIONS Reimbursement To General Fund -$ -$ -$ -$ -$ -$ N/A -$ 0.0%-$ 38,091$ Total Interfund Transactions -$ -$ -$ -$ -$ -$ N/A -$ -$ -$ 38,091$ Total Revenues Over (Under) Expenditures - Budgetary Basis 15,273$ 159,029$ 175,057$ (8,261)$ (280,819)$ 19,700$ 79,979$ 237,901$ 713,702$ (443,996)$ 523,976$ *Estimates based on historical year-end audit adjustments. Actual amounts are not measured and recorded until the end of the year.