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HomeMy WebLinkAbout05 - May 2025 Fund Financial ReportVILLAGE OAK BROOKOF MONTHLY FINANCIAL REPORTS MAY 2025 Estimated YTD YTD Net Fund Ending YTD YTD Increase Fund Balance Governmental Funds Revenues Expenditures (Decrease)(Deficit) General Fund (Major Fund)13,938,604$ 13,496,260$ 442,344$ 43,819,821$ Main operating fund of the Village. Hotel Fund (Major Fund)735,624$ 287,917$ 447,707$ 5,794,322$ 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)3,860,617$ 1,347,073$ 2,513,544$ 16,938,052$ Accounts for construction and maintenance of roadways, drainage, and safety path systems. Enterprise Funds Water Fund (Major Fund)3,945,053$ 2,953,938$ 991,115$ 22,909,758$ Collects user fees for the distribution of water and maintenance of infrastructure. Sports Core Fund (Major Fund)2,246,990$ 1,590,371$ 656,618$ 3,560,507$ Accounts for revenues and expenses relating to administration, programs, food and beverage operations, and golf course. Internal Service Funds Insurance Fund 1,248,510$ 1,555,554$ (307,044)$ 90,586$ Accounts for the Village's health insurance costs and the related contributions from the Village, employees, retirees, and other agencies. Garage Fund 369,073$ 375,973$ (6,900)$ 436,762$ Accounts for the maintenance of the Village's vehicle fleet and the related departmental reimbursements. Equipment Replacement Fund 596,252$ 292,564$ 303,688$ 3,921,374$ 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 May 31, 2025 5/31/25 5/31/25 5/31/24 5/31/25 YTD % of YTD 2025 Difference YTD YTD Amended Amended Adopted Prior Actual Actual Budget Budget Budget Year OPERATING REVENUES Sales Tax 7,311,509$ 8,222,655 7,187,500$ 114.4%17,250,000$ 911,146$ State Income Tax 678,329 747,842 541,667 138.1%1,300,000 69,514 Replacement Tax 298,180 200,057 229,167 87.3%550,000 (98,122) Road & Bridge Tax 6,362 1 14,583 0.0%35,000 (6,361) Local Use Tax 133,946 82,575 132,917 62.1%319,000 (51,371) Cannabis Use Tax 5,725 5,352 5,208 102.8%12,500 (373) Grants 154,300 5,320 71,300 7.5%171,120 (148,980) Utility/Telecom. Tax 1,358,966 1,390,441 1,562,500 89.0%3,750,000 31,475 Licenses and Permits 1,099,574 865,387 1,144,817 75.6%2,747,560 (234,188) Charges for Services 1,160,133 758,696 1,140,854 66.5%2,738,050 (401,437) Investment Interest 721,408 559,986 416,667 134.4%1,000,000 (161,423) Miscellaneous Income 410,169 262,351 252,592 103.9%606,221 (147,818) Total Operating Revenues 13,338,601$ 13,100,664$ 12,699,771$ 103.2%30,479,451$ (237,937)$ OPERATING EXPENDITURES Personnel 8,797,898$ 9,694,450$ 9,911,358$ 97.8%23,787,259$ 896,552$ Materials and Supplies 235,543 218,804 287,272 76.2%689,454 (16,739)$ Operation and Contract 2,599,763 2,760,789 3,046,885 90.6%7,312,523 161,026$ Other Expenditures 4,240 3,961 4,125 96.0%9,900 (279)$ Capital Outlay 149,708 818,257 255,240 320.6%612,575 668,549$ Total Operating Expenditures 11,787,151$ 13,496,260$ 13,504,880$ 99.9%32,411,711$ 1,709,109$ SURPLUS (DEFICIT) OF REVENUES OVER EXPENDITURES 1,551,450$ (395,596)$ (805,108)$ 49.1%(1,932,260)$ (1,947,046)$ INTERFUND TRANSACTIONS Transfers In -$ -$ -$ N/A -$ -$ Transfers Out N/A - Reimbursements From Other Funds 364,975 837,940 837,943 100.0%2,011,062 472,965 Reimbursements To Other Funds - - - N/A - - Sports Core Loan N/A - - Total Interfund Transactions 364,975$ 837,940$ 837,943$ 100.0%2,011,062$ 472,965$ NET FUND INCREASE (DECREASE)1,916,425$ 442,344$ 32,834$ 78,802$ (1,474,081)$ *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 May 31, 2025 5/31/25 5/31/25 5/31/24 5/31/25 YTD % of YTD 2025 Difference YTD YTD Amended Amended Adopted Prior Actual Actual Budget Budget Budget Year OPERATING REVENUES Hotel Tax 618,492$ 550,585$ 583,333$ 94.4%1,400,000$ (67,907)$ Investment Interest 71,301 76,776 25,000 307.1%60,000 5,475 Loan Interest 1,000 - - N/A - (1,000) Miscellaneous - 108,264 210,208 504,500 108,264 Total Operating Revenues 690,792$ 735,624$ 818,542$ 89.9%1,964,500$ 44,832$ EXPENDITURES Personnel -$ 57,410$ 58,695$ 140,868$ -$ Operation and Contract (45,827) 105,693 406,652 0.26 975,965 151,520.05 Capital Outlay 3,683 39,069 247,396 15.8%593,750 35,385 Total Expenditures (42,144)$ 202,172$ 654,048$ 30.9%1,710,583$ 186,905$ SURPLUS (DEFICIT) OF REVENUES OVER EXPENDITURES 732,936$ 533,452$ 105,799$ 504.2%253,917$ (142,073)$ INTERFUND TRANSACTIONS Transfer Out -$ -$ -$ N/A -$ -$ Reimbursements to Other Funds (101,630) (85,745) (85,746) 100.0%(205,791) 15,885 Total Interfund Transactions (101,630)$ (85,745)$ (85,746)$ 100.0%(205,791)$ 15,885$ NET FUND INCREASE (DECREASE)631,306$ 447,707$ 20,052$ 48,126$ (126,188)$ Note - Expenditures are recorded in program 171. Village of Oak Brook Hotel Tax Fund Financial Update For the Period Ending May 31, 2025 5/31/25 5/31/25 5/31/24 5/31/25 YTD % of YTD 2025 Difference YTD YTD Amended Amended Adopted Prior Actual Actual Budget Budget Budget Year OPERATING REVENUES Non-Home Rule Sales Tax 3,190,959$ 3,557,155$ 2,914,583$ 122.0%6,995,000$ 366,196$ Charges for Services - - - N/A - -$ Investment Interest 323,569 303,462 166,667 182.1%400,000 (20,106) Grants - - - N/A - - Miscellaneous 1,990 - - N/A - (1,990) Total Operating Revenues 3,516,517$ 3,860,617$ 3,081,250$ 125.3%7,395,000$ 344,100$ OPERATING EXPENDITURES Personnel 75,673$ 14,120$ -$ N/A -$ (61,553)$ Materials and Supplies 202 3,852 19,917 19.3%47,800 3,651 Operation and Contract 429,767 494,158 953,422 51.8%2,288,213 64,391 Other Expenditures - - - N/A - Capital Outlay 455,723 542,482 1,879,656 28.9%4,511,174 86,759 Total Operating Expenditures 961,365$ 1,054,613$ 2,852,995$ 37.0%6,847,187$ 93,248$ SURPLUS (DEFICIT) OF REVENUES OVER EXPENDITURES 2,555,153$ 2,806,004$ 228,255$ 1229.3%547,813$ 250,852$ INTERFUND TRANSACTIONS Transfers In -$ -$ -$ N/A -$ -$ Reimbursements From Other Funds - - 83,333 0.0%200,000 - Reimbursements To Other Funds (13,335) (292,460) (292,461) 100.0%(701,906) (279,125) Total Interfund Transactions (13,335)$ (292,460)$ (209,128)$ 139.8%(501,906)$ (279,125)$ NET FUND INCREASE (DECREASE)2,541,818$ 2,513,544$ 19,128$ 45,907$ (28,273)$ Village of Oak Brook Infrastructure Fund Financial Update For the Period Ending May 31, 2025 5/31/25 5/31/25 5/31/24 5/31/25 YTD % of YTD 2025 Difference YTD YTD Amended Amended Adopted Prior Actual Actual Budget Budget Budget Year OPERATING REVENUES Plan Review Fees 227$ 750$ 219$ 342.9%525$ 523$ Building/Inspection Fees - - 625 0.0%1,500 - Water Sales 3,322,784 3,331,133 4,712,165 70.7%11,309,195 8,349 Unmetered Sales 17,969 15,304 25,000 61.2%60,000 (2,665) Water Connection Fees 23,000 53,590 30,833 173.8%74,000 30,590 Fire Service Charge - - - N/A - - Meter Charges 5,210 18,280 6,250 292.5%15,000 13,070 Special Services - - 6,250 0.0%15,000 - Investment Interest 556,770 472,972 291,667 162.2%700,000 (83,798) Proceeds from Property Sale - - - N/A - - Miscellaneous 40,157 53,025 31,250 169.7%75,000 12,868 Total Operating Revenues 3,966,116$ 3,945,053$ 5,104,258$ 77.3%12,250,220$ (21,063)$ OPERATING EXPENDITURES Personnel 274,960$ 250,951$ 273,865$ 91.6%657,277$ (24,009)$ Materials and Supplies 43,924 63,846 49,863 128.0%119,671 19,922 Operation and Contract 1,717,328 2,021,940 2,876,483 70.3%6,903,559 304,613 Capital Outlay 1,137,239 371,695 3,230,913 11.5%7,754,190 (765,544) Total Expenditures 3,173,452$ 2,708,433$ 6,431,123$ 42.1%15,434,696$ (465,018)$ Surplus (Deficit) of Revenues Over Expenditures 792,664$ 1,236,620$ (1,326,865)$ -93.2%(3,184,476)$ 443,956$ INTERFUND TRANSACTIONS Reimbursements To Other Funds (182,035)$ (245,505)$ (245,501)$ 100.0%(589,202)$ (63,470)$ Total Interfund Transactions (182,035)$ (245,505)$ (245,501)$ 100.0%(589,202)$ (63,470)$ Fund Increase/(Decrease) - Budgetary Basis 610,629$ 991,115$ (1,572,366)$ (3,773,678)$ 380,486$ *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 May 31, 2025 Village of Oak Brook Monthly Operating Statement Sports Core Fund Consolidated Presentation For the Period Ending May 31, 2025 5/31/25 5/31/25 5/31/25 YTD % of YTD 2025 5/31/24 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 569,324$ -$ -$ 354,350$ 923,674$ 399,836$ 231.0%959,607$ 772,725$ 150,949$ Greens Fees - - - 409,274 409,274 777,496 52.6%1,865,990 412,473 (3,199) Pro Shop Sales - - - 49,928 49,928 75,000 66.6%180,000 42,856 7,072 Golf Lessons - - - 67,965 67,965 18,750 362.5%45,000 29,330 38,635 Driving Range Fees - - - 273,028 273,028 275,576 99.1%661,382 224,685 48,343 Golf Surcharge - - - 52,522 52,522 93,750 56.0%225,000 - 52,522 Rentals - 50,944 69,070 145,123 265,137 459,167 57.7%1,102,000 257,055 8,082 Programs/User Fees 57,065 - - - 57,065 85,750 66.5%205,800 46,724 10,341 Food Sales 486 - - 8,877 9,363 24,075 38.9%57,780 7,664 1,699 Beverage Sales 315 - - 884 1,198 32,867 3.6%78,880 - 1,198 Grants - - - - - - N/A - - - Other Revenue 93,654 - - 27,511 121,165 40,833 296.7%98,000 94,180 26,985 Total Operating Revenues 720,844$ 50,944$ 69,070$ 1,389,462$ 2,230,320$ 2,283,099$ 97.7%5,479,439$ 1,887,692$ 342,628$ OPERATING EXPENDITURES Personnel 81,590$ -$ -$ 419,478$ 501,068$ 687,943$ 72.8%1,651,064$ 432,890$ 68,179$ Materials & Supplies 19,480 - 2,332 109,358 131,170 177,513 73.9%426,030 155,590 (24,419) Operational & Contractual 221,141 20,389 16,575 99,571 357,676 504,878 70.8%1,211,708 445,025 (87,350) Other - - - - - - N/A - - - Capital 10,853 - - 358,704 369,557 654,147 56.5%1,569,954 874,150 (504,593) Total Operating Expenditures 333,065$ 20,389$ 18,907$ 987,111$ 1,359,471$ 2,024,481$ 67.2%4,858,755$ 1,907,655$ (548,183)$ B&T Administration Overhead Allocation*273,348$ (23,231)$ (50,373)$ (199,745)$ -$ -$ N/A -$ 10,399$ 10,399$ Operating Revenues Over (Under) Expenditures 661,127$ 7,325$ (210)$ 202,606$ 870,848$ 258,618$ 336.7%620,684$ (9,564)$ 901,210$ INTERFUND TRANSACTIONS Reimbursement From Other Funds 16,670$ -$ -$ -$ 16,670$ 16,667$ 100.0%40,000$ 16,670$ -$ Reimbursement To General Fund (230,900) - - - (230,900) (230,878) 100.0%(554,106) 42,325 (273,225) Total Interfund Transactions (214,230)$ -$ -$ -$ (214,230)$ (214,211)$ 100.0%(514,106)$ 58,995$ (273,225)$ Total Revenues Over (Under) Expenditures - Budgetary Basis 446,897$ 7,325$ (210)$ 202,606$ 656,618$ 44,407$ 106,578$ 49,431$ 627,985$ *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 May 31, 2025 5/31/25 5/31/25 822 5/31/25 YTD % of YTD 2025 5/31/24 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 -$ 544,330$ 24,994$ -$ 569,324$ 209,492$ 271.8%502,782$ 381,075$ 188,249$ Programs/User Fees - 48,092 8,973 - 57,065 85,750 66.5%205,800 46,724 10,341 Food Sales - - - 486 486 3,346 14.5%8,030 - - Beverage Sales - - - 315 315 1,513 20.8%3,630 - - Grants - - - - - - N/A - - - Other Revenue 92,404 - - 1,250 93,654 37,917 247.0%91,000 92,741 913 Total Operating Revenues 92,404$ 592,422$ 33,967$ 2,051$ 720,844$ 338,017$ 213.3%811,242$ 520,540$ 199,503$ OPERATING EXPENDITURES Personnel 80,758$ 832$ -$ -$ 81,590$ 121,090$ 67.4%290,617$ 1,142$ 80,449$ Materials & Supplies 350 17,706 1,424 - 19,480 11,731 166.1%28,155 20,536 (1,056) Operational & Contractual 71,730 122,416 26,995 - 221,141 268,061 82.5%643,347 241,459 (20,317) Other - - - - - - N/A - - - Capital 89 10,764 - - 10,853 299,542 3.6%718,900 89,213 (78,360) Total Operating Expenditures 152,927$ 151,718$ 28,419$ -$ 333,065$ 700,425$ 47.6%1,681,019$ 352,349$ (19,285)$ B&T Administration Overhead Allocation*346,669$ (57,718)$ (11,436)$ (4,167)$ 273,348$ 273,348 100.0%656,036$ 15,607$ 257,741$ Operating Revenues Over (Under) Expenditures 286,146$ 382,985$ (5,888)$ (2,116)$ 661,127$ (89,059)$ -742.3%(213,742)$ 183,797$ 476,529$ INTERFUND TRANSACTIONS Reimbursement From Other Fund 16,670$ -$ -$ -$ 16,670$ 16,667$ 100.0%40,000$ 16,670$ -$ Reimbursement To General Fund (230,900) - - - (230,900) (230,878) 100.0%(554,106) (21,160) (209,740) Total Interfund Transactions (214,230)$ -$ -$ -$ (214,230)$ (214,211)$ 100.0%(514,106)$ (4,490)$ (209,740)$ Total Revenues Over (Under) Expenditures - Budgetary Basis 71,916$ 382,985$ (5,888)$ (2,116)$ 446,897$ (303,270)$ (727,848)$ 179,307$ 266,789$ *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 May 31, 2025 5/31/25 5/31/25 5/31/25 YTD % of YTD 2025 5/31/24 Difference 815 816 YTD Amended Amended Adopted YTD Prior Polo Open Fields Total Budget Budget Budget Total Year OPERATING REVENUES Field Rentals -$ 50,944$ 50,944$ 84,583$ 60.2%203,000$ 46,972$ 3,972$ Range Rentals - - - - N/A - - - Taste of Oak Brook - - - - N/A - - - Other Revenue - - - N/A - - - Total Operating Revenues -$ 50,944$ 50,944$ 84,583$ 60.2%203,000$ 46,972$ 3,972$ OPERATING EXPENDITURES Personnel -$ -$ -$ -$ N/A -$ -$ -$ Materials & Supplies - - - 3,954 0.0%9,490 - - Operational & Contractual - 20,389 20,389 31,676 64.4%76,022 23,620 (3,231) Capital - - - - N/A - - - Total Operating Expenditures -$ 20,389$ 20,389$ 35,630$ 57.2%85,512$ 23,620$ (3,231)$ B&T Administration Overhead Allocation*-$ (23,231)$ (23,231)$ (23,231) 100.0%(55,754)$ -$ (23,231)$ Total Revenues Over (Under) Expenditures - Budgetary Basis -$ 7,325$ 7,325$ 25,722$ 28.5%61,733$ 23,352$ (16,027)$ *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 May 31, 2025 5/31/25 5/31/25 821 YTD % of YTD 2025 5/31/24 Difference B&T Amended Amended Adopted YTD Prior Clubhouse Budget Budget Budget Total Year OPERATING REVENUES Rentals 69,070$ 97,500$ 70.8%234,000$ 44,936$ 24,134$ Other Revenue - - 0.0%- - - Total Operating Revenues 69,070$ 97,500$ 70.8%234,000$ 44,936$ 24,134$ OPERATING EXPENDITURES Personnel -$ -$ N/A -$ -$ -$ Materials & Supplies 2,332 5,729 40.7%13,750 4,353 (2,021) Operational & Contractual 16,575 16,819 98.6%40,365 20,407 (3,832) Capital - - N/A - - - Total Operating Expenditures 18,907$ 22,548$ 83.9%54,115$ 24,760$ (5,853)$ B&T Administration Overhead Allocation*(50,373)$ (50,373) 100.0%(120,895)$ (5,208)$ (45,165)$ Operating Revenues Over (Under) Expenditures (210)$ 24,579$ -0.9%58,990$ 14,968$ (15,178)$ Total Revenues Over (Under) Expenditures - Budgetary Basis (210)$ 24,579$ 58,990$ 14,968$ (15,178)$ *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 May 31, 2025 5/31/25 5/31/25 823 831 832 833 834 844 5/31/25 YTD % of YTD 2025 5/31/24 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 -$ 354,350$ -$ -$ -$ -$ 354,350$ 190,344$ 186.2%456,825$ 391,650$ (37,300)$ Greens Fees - 409,274 - - - - 409,274 777,496 52.6%1,865,990 412,473 (3,199) Pro Shop Sales - 49,928 - - - - 49,928 75,000 66.6%180,000 42,856 7,072 Golf Lessons - - 67,965 - - - 67,965 18,750 362.5%45,000 29,330 38,635 Driving Range Fees - - 273,028 - - - 273,028 275,576 99.1%661,382 224,685 48,343 Rentals 14,350 2,015 5,000 123,758 - - 145,123 277,083 52.4%665,000 165,147 (20,025) Food Sales 8,877 - - - - - 8,877 20,729 42.8%49,750 7,664 1,213 Beverage Sales 884 - - - - - 884 31,354 2.8%75,250 - 884 Golf Surcharge - - - - - 52,522 52,522 93,750 56.0%225,000 53,143 (620) Other Revenue - 27,511 - - - - 27,511 2,917 943.2%7,000 1,439 26,072 Total Operating Revenues 24,111$ 843,078$ 345,993$ 123,758$ -$ 52,522$ 1,389,462$ 1,762,999$ 78.8%4,231,197$ 1,328,386$ 61,075$ OPERATING EXPENDITURES Personnel -$ 150,743$ 11,085$ 13,256$ 244,394$ -$ 419,478$ 566,853$ 74.0%1,360,447$ 431,748$ (12,270)$ Materials & Supplies (783) 22,146 30,948 504 56,543 - 109,358 156,098 70.1%374,635 130,700 (21,342) Operational & Contractual - 68,686 6,400 4,229 20,255 - 99,571 188,322 52.9%451,973 159,540 (59,970) Other - - - - - - - - N/A - - - Capital - 236,484 - 48,470 73,750 - 358,704 354,606 101.2%851,054 784,937 (426,233) Total Operating Expenditures (783)$ 478,060$ 48,433$ 66,459$ 394,942$ -$ 987,111$ 1,265,878$ 78.0%3,038,108$ 1,506,925$ (519,814)$ Operating Revenues Over (Under) Expenditures 24,893$ 365,019$ 297,560$ 57,299$ (394,942)$ 52,522$ 402,351$ 497,120$ 80.9%1,193,089$ (178,539)$ 580,890$ B&T Administration Overhead Allocation*-$ (199,745)$ -$ -$ -$ -$ (199,745)$ (199,745) 100.0%(479,387)$ (10,399)$ (189,346)$ INTERFUND TRANSACTIONS Reimbursement To General Fund -$ -$ -$ -$ -$ -$ N/A -$ 0.0%-$ (63,485)$ Total Interfund Transactions -$ -$ -$ -$ -$ -$ N/A -$ -$ -$ (63,485)$ Total Revenues Over (Under) Expenditures - Budgetary Basis 24,893$ 165,274$ 297,560$ 57,299$ (394,942)$ 52,522$ 202,606$ 297,376$ 713,702$ (252,422)$ 391,544$ *Estimates based on historical year-end audit adjustments. Actual amounts are not measured and recorded until the end of the year.