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HomeMy WebLinkAbout07 - July 2025 Fund Financial ReportVILLAGE OAK BROOKOF MONTHLY FINANCIAL REPORTS JULY 2025 Estimated YTD YTD Net Fund Ending YTD YTD Increase Fund Balance Governmental Funds Revenues Expenditures (Decrease)(Deficit) General Fund (Major Fund)20,028,283$ 17,940,314$ 2,087,969$ 45,465,445$ Main operating fund of the Village. Hotel Fund (Major Fund)1,108,972$ 704,045$ 404,927$ 5,751,542$ Collects and spends resources from the 3% hotel/motel tax. Motor Fuel Tax Fund 259,986$ 72,635$ 187,352$ 2,579,568$ Collects and spends resources from the State motor fuel tax. Infrastructure Fund (Major Fund)5,576,080$ 1,830,390$ 3,745,691$ 18,170,198$ Accounts for construction and maintenance of roadways, drainage, and safety path systems. Enterprise Funds Water Fund (Major Fund)6,366,620$ 6,152,795$ 213,824$ 22,132,467$ Collects user fees for the distribution of water and maintenance of infrastructure. Sports Core Fund (Major Fund)3,775,565$ 2,733,848$ 1,041,718$ 3,945,606$ Accounts for revenues and expenses relating to administration, programs, food and beverage operations, and golf course. Internal Service Funds Insurance Fund 1,738,527$ 2,070,998$ (332,471)$ 65,159$ Accounts for the Village's health insurance costs and the related contributions from the Village, employees, retirees, and other agencies. Garage Fund 517,278$ 522,696$ (5,418)$ 438,244$ Accounts for the maintenance of the Village's vehicle fleet and the related departmental reimbursements. Equipment Replacement Fund 827,293$ 380,419$ 446,874$ 4,064,560$ 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 July 31, 2025 7/31/25 7/31/25 7/31/24 7/31/25 YTD % of YTD 2025 Difference YTD YTD Amended Amended Adopted Prior Actual Actual Budget Budget Budget Year OPERATING REVENUES Sales Tax 10,032,368$ 12,013,703 10,062,500$ 119.4%17,250,000$ 1,981,335$ State Income Tax 908,159 985,136 758,333 129.9%1,300,000 76,977 Replacement Tax 403,209 264,345 320,833 82.4%550,000 (138,865) Road & Bridge Tax 21,914 19,336 20,417 94.7%35,000 (2,578) Local Use Tax 186,210 93,792 186,083 50.4%319,000 (92,418) Cannabis Use Tax 7,878 7,619 7,292 104.5%12,500 (259) Grants 154,908 8,184 99,820 8.2%171,120 (146,724) Utility/Telecom. Tax 1,947,392 1,858,520 2,187,500 85.0%3,750,000 (88,872) Licenses and Permits 1,455,172 1,419,684 1,602,743 88.6%2,747,560 (35,488) Charges for Services 1,732,776 1,197,278 1,597,196 75.0%2,738,050 (535,498) Investment Interest 1,080,411 669,353 583,333 114.7%1,000,000 (411,058) Miscellaneous Income 510,772 318,218 353,629 90.0%606,221 (192,554) Total Operating Revenues 18,441,171$ 18,855,167$ 17,779,680$ 106.0%30,479,451$ 413,995$ OPERATING EXPENDITURES Personnel 12,284,896$ 13,263,157$ 13,875,901$ 95.6%23,787,259$ 978,261$ Materials and Supplies 333,058 295,473 402,181 73.5%689,454 (37,585)$ Operation and Contract 3,600,651 3,530,972 4,265,639 82.8%7,312,523 (69,679)$ Other Expenditures 4,240 22,858 5,775 395.8%9,900 18,618$ Capital Outlay 198,687 827,855 357,335 231.7%612,575 629,167$ Total Operating Expenditures 16,421,533$ 17,940,314$ 18,906,831$ 94.9%32,411,711$ 1,518,781$ SURPLUS (DEFICIT) OF REVENUES OVER EXPENDITURES 2,019,639$ 914,853$ (1,127,152)$ -81.2%(1,932,260)$ (1,104,786)$ INTERFUND TRANSACTIONS Transfers In -$ -$ -$ N/A -$ -$ Transfers Out N/A - Reimbursements From Other Funds 510,965 1,173,116 1,173,120 100.0%2,011,062 662,151 Reimbursements To Other Funds - - - N/A - - Sports Core Loan N/A - - Total Interfund Transactions 510,965$ 1,173,116$ 1,173,120$ 100.0%2,011,062$ 662,151$ NET FUND INCREASE (DECREASE)2,530,604$ 2,087,969$ 45,968$ 78,802$ (442,635)$ *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 July 31, 2025 7/31/25 7/31/25 7/31/24 7/31/25 YTD % of YTD 2025 Difference YTD YTD Amended Amended Adopted Prior Actual Actual Budget Budget Budget Year OPERATING REVENUES Hotel Tax 897,148$ 859,422$ 816,667$ 105.2%1,400,000$ (37,726)$ Investment Interest 108,456 97,285 35,000 278.0%60,000 (11,171) Loan Interest 1,000 - - N/A - (1,000) Miscellaneous - 152,264 294,292 504,500 152,264 Total Operating Revenues 1,006,605$ 1,108,972$ 1,145,958$ 96.8%1,964,500$ 102,367$ EXPENDITURES Personnel 14,928$ 78,700$ 82,173$ 140,868$ -$ Operation and Contract (37,572) 393,230 569,313 0.69 975,965 430,802.32 Capital Outlay 3,770 112,072 346,354 32.4%593,750 108,302 Total Expenditures (18,875)$ 584,002$ 915,667$ 63.8%1,710,583$ 539,105$ SURPLUS (DEFICIT) OF REVENUES OVER EXPENDITURES 1,025,479$ 524,970$ 148,118$ 354.4%253,917$ (436,737)$ INTERFUND TRANSACTIONS Transfer Out -$ -$ -$ N/A -$ -$ Reimbursements to Other Funds (142,282) (120,043) (120,045) 100.0%(205,791) 22,239 Total Interfund Transactions (142,282)$ (120,043)$ (120,045)$ 100.0%(205,791)$ 22,239$ NET FUND INCREASE (DECREASE)883,197$ 404,927$ 28,073$ 48,126$ (414,498)$ Note - Expenditures are recorded in program 171. Village of Oak Brook Hotel Tax Fund Financial Update For the Period Ending July 31, 2025 7/31/25 7/31/25 7/31/24 7/31/25 YTD % of YTD 2025 Difference YTD YTD Amended Amended Adopted Prior Actual Actual Budget Budget Budget Year OPERATING REVENUES Non-Home Rule Sales Tax 4,361,274$ 5,184,328$ 4,080,417$ 127.1%6,995,000$ 823,054$ Charges for Services - - - N/A - -$ Investment Interest 486,932 391,753 233,333 167.9%400,000 (95,179) Grants - - - N/A - - Miscellaneous 2,395 - - N/A - (2,395) Total Operating Revenues 4,850,601$ 5,576,080$ 4,313,750$ 129.3%7,395,000$ 725,480$ OPERATING EXPENDITURES Personnel 115,055$ 14,231$ -$ N/A -$ (100,823)$ Materials and Supplies 21,269 38,422 27,883 137.8%47,800 17,153 Operation and Contract 751,009 662,009 1,334,791 49.6%2,288,213 (89,000) Other Expenditures - - - N/A - Capital Outlay 509,691 706,283 2,631,518 26.8%4,511,174 196,593 Total Operating Expenditures 1,397,024$ 1,420,946$ 3,994,193$ 35.6%6,847,187$ 23,922$ SURPLUS (DEFICIT) OF REVENUES OVER EXPENDITURES 3,453,577$ 4,155,135$ 319,557$ 1300.3%547,813$ 701,558$ INTERFUND TRANSACTIONS Transfers In -$ -$ -$ N/A -$ -$ Reimbursements From Other Funds - - 116,667 0.0%200,000 - Reimbursements To Other Funds (18,669) (409,444) (409,445) 100.0%(701,906) (390,775) Total Interfund Transactions (18,669)$ (409,444)$ (292,779)$ 139.8%(501,906)$ (390,775)$ NET FUND INCREASE (DECREASE)3,434,908$ 3,745,691$ 26,779$ 45,907$ 310,783$ Village of Oak Brook Infrastructure Fund Financial Update For the Period Ending July 31, 2025 7/31/25 7/31/25 7/31/24 7/31/25 YTD % of YTD 2025 Difference YTD YTD Amended Amended Adopted Prior Actual Actual Budget Budget Budget Year OPERATING REVENUES Plan Review Fees 977$ 1,275$ 306$ 416.3%525$ 298$ Building/Inspection Fees - - 875 0.0%1,500 - Water Sales 5,461,375 5,547,714 6,597,031 84.1%11,309,195 86,338 Unmetered Sales 36,881 36,088 35,000 103.1%60,000 (793) Water Connection Fees 39,560 64,630 43,167 149.7%74,000 25,070 Fire Service Charge - - - N/A - - Meter Charges 9,370 23,790 8,750 271.9%15,000 14,420 Special Services 15,054 15,926 8,750 182.0%15,000 872 Investment Interest 801,760 605,661 408,333 148.3%700,000 (196,099) Proceeds from Property Sale - - - N/A - - Miscellaneous 68,490 71,536 43,750 163.5%75,000 3,046 Total Operating Revenues 6,433,468$ 6,366,620$ 7,145,962$ 89.1%12,250,220$ (66,848)$ OPERATING EXPENDITURES Personnel 369,581$ 341,204$ 383,411$ 89.0%657,277$ (28,377)$ Materials and Supplies 72,672 81,181 69,808 116.3%119,671 8,509 Operation and Contract 3,732,526 3,308,125 4,027,076 82.1%6,903,559 (424,401) Capital Outlay 2,617,868 2,078,579 4,523,278 46.0%7,754,190 (539,290) Total Expenditures 6,792,648$ 5,809,088$ 9,003,573$ 64.5%15,434,696$ (983,559)$ Surplus (Deficit) of Revenues Over Expenditures (359,180)$ 557,531$ (1,857,611)$ -30.0%(3,184,476)$ 916,712$ INTERFUND TRANSACTIONS Reimbursements To Other Funds (254,849)$ (343,707)$ (343,701)$ 100.0%(589,202)$ (88,858)$ Total Interfund Transactions (254,849)$ (343,707)$ (343,701)$ 100.0%(589,202)$ (88,858)$ Fund Increase/(Decrease) - Budgetary Basis (614,029)$ 213,824$ (2,201,312)$ (3,773,678)$ 827,854$ *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 July 31, 2025 Village of Oak Brook Monthly Operating Statement Sports Core Fund Consolidated Presentation For the Period Ending July 31, 2025 7/31/25 7/31/25 7/31/25 YTD % of YTD 2025 7/31/24 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 587,712$ -$ -$ 358,600$ 946,312$ 559,771$ 169.1%959,607$ 825,530$ 120,782$ Greens Fees - - - 1,014,698 1,014,698 1,088,494 93.2%1,865,990 983,668 31,030 Pro Shop Sales - - - 112,763 112,763 105,000 107.4%180,000 96,575 16,189 Golf Lessons - - - 91,010 91,010 26,250 346.7%45,000 35,595 55,415 Driving Range Fees - - - 480,596 480,596 385,806 124.6%661,382 371,625 108,971 Golf Surcharge - - - 131,449 131,449 131,250 100.2%225,000 - 131,449 Rentals - 94,539 110,641 381,034 586,213 642,833 91.2%1,102,000 540,432 45,781 Programs/User Fees 126,958 - - - 126,958 120,050 105.8%205,800 115,813 11,145 Food Sales 50,590 - - 39,327 89,918 33,705 266.8%57,780 38,925 50,993 Beverage Sales 31,173 - - 884 32,057 46,013 69.7%78,880 - 32,057 Grants - - - - - - N/A - - - Other Revenue 104,681 - - 35,574 140,255 57,167 245.3%98,000 96,959 43,296 Total Operating Revenues 901,113$ 94,539$ 110,641$ 2,645,935$ 3,752,227$ 3,196,339$ 117.4%5,479,439$ 3,105,121$ 647,106$ OPERATING EXPENDITURES Personnel 150,616$ -$ -$ 780,259$ 930,876$ 963,120$ 96.7%1,651,064$ 772,008$ 158,868$ Materials & Supplies 23,237 - 2,921 210,219 236,378 248,518 95.1%426,030 231,784 4,594 Operational & Contractual 446,928 24,793 33,737 195,609 701,068 706,829 99.2%1,211,708 723,967 (22,899) Other - - - - - - N/A - - - Capital 125,898 - - 416,368 542,266 915,806 59.2%1,569,954 1,342,252 (799,987) Total Operating Expenditures 746,680$ 24,793$ 36,659$ 1,602,456$ 2,410,588$ 2,834,274$ 85.1%4,858,755$ 3,070,011$ (659,424)$ B&T Administration Overhead Allocation*382,688$ (32,523)$ (70,522)$ (279,642)$ -$ -$ N/A -$ 14,558$ 14,558$ Operating Revenues Over (Under) Expenditures 537,121$ 37,222$ 3,460$ 763,836$ 1,341,640$ 362,066$ 370.6%620,684$ 49,668$ 1,321,088$ INTERFUND TRANSACTIONS Reimbursement From Other Funds 23,338$ -$ -$ -$ 23,338$ 23,333$ 100.0%40,000$ 23,338$ -$ Reimbursement To General Fund (323,260) - - - (323,260) (323,229) 100.0%(554,106) 59,255 (382,515) Total Interfund Transactions (299,922)$ -$ -$ -$ (299,922)$ (299,895)$ 100.0%(514,106)$ 82,593$ (382,515)$ Total Revenues Over (Under) Expenditures - Budgetary Basis 237,199$ 37,222$ 3,460$ 763,836$ 1,041,718$ 62,170$ 106,578$ 132,261$ 938,573$ *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 July 31, 2025 7/31/25 7/31/25 822 7/31/25 YTD % of YTD 2025 7/31/24 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 -$ 560,318$ 27,394$ -$ 587,712$ 293,289$ 200.4%502,782$ 429,880$ 157,832$ Programs/User Fees - 85,923 41,035 - 126,958 120,050 105.8%205,800 115,813 11,145 Food Sales - - - 50,590 50,590 4,684 1080.0%8,030 3,728 - Beverage Sales - - - 31,173 31,173 2,118 1472.2%3,630 - - Grants - - - - - - N/A - - - Other Revenue 99,442 - 3,489 1,750 104,681 53,083 197.2%91,000 95,519 9,162 Total Operating Revenues 99,442$ 646,241$ 71,918$ 83,513$ 901,113$ 473,224$ 190.4%811,242$ 644,940$ 178,138$ OPERATING EXPENDITURES Personnel 111,059$ 39,557$ -$ -$ 150,616$ 169,527$ 88.8%290,617$ 37,612$ 113,005$ Materials & Supplies 350 21,463 1,424 - 23,237 16,424 141.5%28,155 30,125 (6,887) Operational & Contractual 73,641 253,197 51,881 68,209 446,928 375,286 119.1%643,347 445,191 1,738 Other - - - - - - N/A - - - Capital 113,973 11,924 - - 125,898 419,358 30.0%718,900 514,735 (388,837) Total Operating Expenditures 299,024$ 326,142$ 53,305$ 68,209$ 746,680$ 980,595$ 76.1%1,681,019$ 1,027,662$ (280,982)$ B&T Administration Overhead Allocation*485,337$ (80,806)$ (16,010)$ (5,833)$ 382,688$ 382,688 100.0%656,036$ 21,850$ 360,838$ Operating Revenues Over (Under) Expenditures 285,755$ 239,292$ 2,603$ 9,471$ 537,121$ (124,683)$ -430.8%(213,742)$ (360,872)$ 819,958$ INTERFUND TRANSACTIONS Reimbursement From Other Fund 23,338$ -$ -$ -$ 23,338$ 23,333$ 100.0%40,000$ 23,338$ -$ Reimbursement To General Fund (323,260) - - - (323,260) (323,229) 100.0%(554,106) (29,624) (293,636) Total Interfund Transactions (299,922)$ -$ -$ -$ (299,922)$ (299,895)$ 100.0%(514,106)$ (6,286)$ (293,636)$ Total Revenues Over (Under) Expenditures - Budgetary Basis (14,167)$ 239,292$ 2,603$ 9,471$ 237,199$ (424,578)$ (727,848)$ (367,158)$ 526,322$ *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 July 31, 2025 7/31/25 7/31/25 7/31/25 YTD % of YTD 2025 7/31/24 Difference 815 816 YTD Amended Amended Adopted YTD Prior Polo Open Fields Total Budget Budget Budget Total Year OPERATING REVENUES Field Rentals -$ 94,539$ 94,539$ 118,417$ 79.8%203,000$ 88,894$ 5,645$ Range Rentals - - - - N/A - - - Taste of Oak Brook - - - - N/A - - - Other Revenue - - - N/A - - - Total Operating Revenues -$ 94,539$ 94,539$ 118,417$ 79.8%203,000$ 88,894$ 5,645$ OPERATING EXPENDITURES Personnel -$ -$ -$ -$ N/A -$ -$ -$ Materials & Supplies - - - 5,536 0.0%9,490 - - Operational & Contractual - 24,793 24,793 44,346 55.9%76,022 23,802 991 Capital - - - - N/A - - - Total Operating Expenditures -$ 24,793$ 24,793$ 49,882$ 49.7%85,512$ 23,802$ 991$ B&T Administration Overhead Allocation*-$ (32,523)$ (32,523)$ (32,523) 100.0%(55,754)$ -$ (32,523)$ Total Revenues Over (Under) Expenditures - Budgetary Basis -$ 37,222$ 37,222$ 36,011$ 103.4%61,733$ 65,092$ (27,870)$ *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 July 31, 2025 7/31/25 7/31/25 821 YTD % of YTD 2025 7/31/24 Difference B&T Amended Amended Adopted YTD Prior Clubhouse Budget Budget Budget Total Year OPERATING REVENUES Rentals 110,641$ 136,500$ 81.1%234,000$ 71,872$ 38,769$ Other Revenue - - 0.0%- - - Total Operating Revenues 110,641$ 136,500$ 81.1%234,000$ 71,872$ 38,769$ OPERATING EXPENDITURES Personnel -$ -$ N/A -$ -$ -$ Materials & Supplies 2,921 8,021 36.4%13,750 7,248 (4,327) Operational & Contractual 33,737 23,546 143.3%40,365 27,193 6,545 Capital - - N/A - - - Total Operating Expenditures 36,659$ 31,567$ 116.1%54,115$ 34,441$ 2,218$ B&T Administration Overhead Allocation*(70,522)$ (70,522) 100.0%(120,895)$ (7,292)$ (63,230)$ Operating Revenues Over (Under) Expenditures 3,460$ 34,411$ 10.1%58,990$ 30,139$ (26,679)$ Total Revenues Over (Under) Expenditures - Budgetary Basis 3,460$ 34,411$ 58,990$ 30,139$ (26,679)$ *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 July 31, 2025 7/31/25 7/31/25 823 831 832 833 834 844 7/31/25 YTD % of YTD 2025 7/31/24 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 -$ 358,600$ -$ -$ -$ -$ 358,600$ 266,481$ 134.6%456,825$ 395,650$ (37,050)$ Greens Fees - 1,014,698 - - - - 1,014,698 1,088,494 93.2%1,865,990 983,668 31,030 Pro Shop Sales - 112,763 - - - - 112,763 105,000 107.4%180,000 96,575 16,189 Golf Lessons - - 91,010 - - - 91,010 26,250 346.7%45,000 35,595 55,415 Driving Range Fees - - 480,596 - - - 480,596 385,806 124.6%661,382 371,625 108,971 Rentals 20,150 5,304 29,750 325,830 - - 381,034 387,917 98.2%665,000 379,666 1,367 Food Sales 39,327 - - - - - 39,327 29,021 135.5%49,750 35,196 4,131 Beverage Sales 884 - - - - - 884 43,896 2.0%75,250 - 884 Golf Surcharge - - - - - 131,449 131,449 131,250 100.2%225,000 129,982 1,467 Other Revenue - 35,574 - - - - 35,574 4,083 871.2%7,000 1,440 34,134 Total Operating Revenues 60,361$ 1,526,939$ 601,356$ 325,830$ -$ 131,449$ 2,645,935$ 2,468,198$ 107.2%4,231,197$ 2,429,398$ 216,537$ OPERATING EXPENDITURES Personnel -$ 234,254$ 94,824$ 35,928$ 415,253$ -$ 780,259$ 793,594$ 98.3%1,360,447$ 734,396$ 45,864$ Materials & Supplies (783) 61,077 32,918 517 116,489 - 210,219 218,537 96.2%374,635 194,411 15,808 Operational & Contractual - 138,499 22,757 5,963 28,391 - 195,609 263,651 74.2%451,973 227,782 (32,172) Other - - - - - - - - N/A - - - Capital - 294,148 - 48,470 73,750 - 416,368 496,448 83.9%851,054 827,518 (411,150) Total Operating Expenditures (783)$ 727,978$ 150,499$ 90,878$ 633,883$ -$ 1,602,456$ 1,772,230$ 90.4%3,038,108$ 1,984,106$ (381,650)$ Operating Revenues Over (Under) Expenditures 61,144$ 798,962$ 450,856$ 234,952$ (633,883)$ 131,449$ 1,043,479$ 695,968$ 149.9%1,193,089$ 445,291$ 598,187$ B&T Administration Overhead Allocation*-$ (279,642)$ -$ -$ -$ -$ (279,642)$ (279,642) 100.0%(479,387)$ (14,558)$ (265,084)$ INTERFUND TRANSACTIONS Reimbursement To General Fund -$ -$ -$ -$ -$ -$ N/A -$ 0.0%-$ (88,879)$ Total Interfund Transactions -$ -$ -$ -$ -$ -$ N/A -$ -$ -$ (88,879)$ Total Revenues Over (Under) Expenditures - Budgetary Basis 61,144$ 519,319$ 450,856$ 234,952$ (633,883)$ 131,449$ 763,836$ 416,326$ 713,702$ 341,854$ 333,103$ *Estimates based on historical year-end audit adjustments. Actual amounts are not measured and recorded until the end of the year.