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VILLAGE OF OAK BROOK
2006-2010 FIVE-YEAR FlNANCUL PLAN
INTRODUCTION
The Village of Oak Brook Five -Year Financial Plan is intended to provide the community with a long-range projection of financial condition
for each of the twelve principal funds that comprise the financial structure of the Village of OakBrook. Although it is neither as detailed nor
as precise as the Village's annual Municipal Budget, it is an extremely useful tool for the budgeting process in that it provides a means of
assessing the long-range financial impact of current decisions.
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
Governmental 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
programa, if applicable. The summary brings together the revenue and expenditure projections and presents a rolling five-year operating
statement, beginning with cash available as of January 1, 2005, as reported in the audited financial statements as of December 31, 2004.
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 fringe benefits and training), interest rates, and the rate of growth in sales tax, the principal revenue source of the Village.
The 2006-2010 Five -Year Financial Plan is based on the following general assumptions:
General inflation at the rate of 2.5% per year.
Personnel inflation, (including benefits, training and merit adjustments applicable to personnel not at top -of -grade) generally at 2.5%
above the general inflation rate (or 5.0% per year).
• Interest earnings on invested funds at rates ranging from 4.0% to 7.5%, depending upon the fund, the type and length of investment.
e Annual growth in sales tax receipts of 3% in 2006-2008, 4% in 2009 and 2010, and specific projections for phasing in of the new Oak
Brook Promenade development beginning in 2007. Receipts from the implementation of the 0.25% non -home rule sales tax
(authorized by referendum in 2004), which are dedicated to funding the'Infrastructure Fund, are projected using the same assumptions
as the growth in general sales tax receipts.
VILLAGE OF.OAK BROOK
2006-2010 FIVE-YEAR FINANCIAL PLAN
In years 2007-2010, 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 fiend.
RELATIONSHIP TO THE ANNUAL BUDGET
In years prior to 2003, the Five -Year Financial Plan was prepared separately and in advance. of the Municipal Budget, usually following the
Village Board Objectives discussion. Once again for 2006, staff has prepared the 2006-2010 Five -Year Plan, 2006 Budget, and 2006 Program
Objectives concurrently. This procedural revision was done in order to streamline the budget process by reducing the amount time spent
overall by staff and the Village Board on budget -related activities.' In prior years, the Five -Year Financial Plan provided only a general
framework for preparation of the Budget. Due to this process revision, the first year of the Five -Year Financial Plan (2006) is based on the
actual 2006 Budget amounts.
The actual 2006 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.
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VILLAGE OF OAKBROOK
2006-2010 FIVE-YEAR FINANCIAL PLAN
GENERAL CORPORATE FUND
DESCRIPTION:
The General Corporate Fund supports the majority of Village operations and is of paramount importance to the financial condition of the
Village. Historically, its resources have been used for operations of the major Village departments, capital improvements, contributions to
pension fluids (in lieu of property tax levies), transfers to the Garage and Equipment Replacement Funds (through user charges), and loans to
other funds as appropriate. In addition, due to. favorable operating projections, a return to the prior policy of funding equipment replacement
annually with user charges in the operating programs is projected for the duration of the planning period.
OVERVIEW:
Over the last several years there have been many issues that have resulted in financial pressure on the General Corporate Fund. Declining
sales tax revenues, lower telecommunications taxes, significant reductions in interest earnings due to historically low rates, rapidly increasing
pension and employee benefit costs, and unfavorable legislation are some of the more material items in recent years. These factors resulted in
the Village Board placing a referendum question on the March, 2004 ballot for the implementation of a non -home rule sales tax of 0.25%.
With the implementation of this new tax, the Village now receives in excess of $2.4 million annually in additional sales tax collections. The
use of this tax is restricted to infrastructure and public works expenditures and thus the new tax, as well as most public works budget
programs, was shifted to the Infrastructure Fund begimung in 2005. This restructuring reduced the annual operating expenses in General
Corporate Fund and allowed the shifting of utility tax receipts previously dedicated to the Infrastructure Fund to be utilized by the General
Corporate Fund.
As directed by the Village Board late 2004, the primary objective of the previous 2005-2009 Five -Year Financial Plan was to restore the
General Corporate Fund cash operating reserve to the six-month level required by the Village's financial policy ordinance by June 30, 2006.
It is expected that this goal will be met by December 31, 2005, which is six months earlier than previously projected. This edition of the Five -
Year Financial Plan indicates that the ending cash balance as of December 31, 2006 is projected to be at 6.4 months of operating expenditures,
which is in excess of $562,000 over the Village Board policy. In later years, the amount over the six month reserve target is projected to
increase each year and for the final year of 2006-2010 Five -Year Financial Plan the amount of the surplus is projected to be. approximately
$3.0 million.
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VILLAGE OF OAK BROOK
2006-2010 FIVE-YEAR F]NANCIAL PLAN
Revenue:
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 2006, sales tax revenue is'projected to be $10,975,000, which is 2.1% over the
2005 Budget amount and 3% over the 2005 estimated amount of $10,650,000.
Revenue from the 5% telecommunications tax is .projected to end the year approximately 5.6% under budget. This decline continues a trend
that began in 2003 when collection of this tax was shifted from the Village to the State of Illinois and is also attributed to the significant
competition in the telecommunications industry. For 2006, receipts are projected to increase 2.9% from the 2005 estimated amounts and for
2007-2010 receipts are projected to increase 3% per year..
Revenue from the utility tax on electric and natural gas is projected to end the year 5.3% over budget. In 2006, receipts are projected to
increase 5.8% from the 2005 estimated amount due to price assumptions relative to the cost of electric and natural gas service. For 2007-
2010, receipts are projected to increase 3% per year. Although in prior years a significant portion of utility tax receipts were used for funding
the Infrastructure Fund, for the duration of this 2006-2010 Five -Year Financial Plan all of these receipts 'are dedicated to funding the General
Corporate Fund operating programs.
State shared revenues in total are projected to end the year approximately $175,000 over budget due to the improving Illinois economy
(effecting income and replacement tax receipts) as well as the State falling behind by one monthly payment in 2004 and getting caught up in
2005. For 2006, receipts are projected using information provided by the Illinois Municipal League and for 2007 and the receipts are
projected to increase approximately 3% per year. Revenue from licenses, permits and inspections continues to increase due to regular annual
fee review with corresponding increases and well as increased permit activity. For 2006, an additional revenue amount of $250,000 is
expected from a new proposed initiative to begin.a business licensing program. Interest revenue for 2006 is expected to increase by 150% due
to significantly higher interest rates as a result of numerous Federal Reserve interest rate increases. Revenue from various charges for services
are expected to end 2005 approximately 17% above budget and increase 4.8% over the 2005 estimated amount. 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. An increase of 0.50 FTE is included for 2006 due to addition of a part time Public Communications
Coordinator position. The replacement of the Village's Centrex -based telephone system, which was budgeted for 2005, has been deferred to
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VILLAGE OF OAK BROOK
2006-2010 FIVE-YEAR FINANCIAL PLAN
2006. It is expected that these costs will be offset by reductions in monthly line charges so that the expected payback of the system will be in
six or seven years. The Village's financial and Sports Core software packages, which were purchased in 1997, are scheduled to be replaced in
2007. Expenditures on risk management activities are expected to increase due to premium increases from IRMA. Two new budget
programs -Program 137 -Business Licenses and Program 138 -Economic Development are scheduled for 2006. It is expected that business
license revenue will more than offset the cost of these new programs. A Village Board contingency of $100,000 is included for 2006 and each
year thereafter. There are no other significant changes projected in the operating budgets of this department, beyond application of the
inflation assumptions.
Financial Services: There are no significant changes projected in the operating budgets of this department, beyond application of the
inflation assumptions.
Public Works. The additional Building Maintenance Employee position, which was included in the 2002 Budget but removed in the
2003 Budget, has been deferred until 2007. This position is needed in recognition of increased demands resulting from the completion of
several significant municipal building projects. The 2006 Budget continues to fluid the building maintenance function with only one full-time
employee and outsourcing many of the new building maintenance functions. Due to the large number of capital projects programmed in 2006,
the roof replacement project for the Public Works facility has once again been deferred to 2007. The Forestry Program includes $160,000 in
2006 and $95,000 per year in 2007-2010 in order to fund Village beautification efforts. In order to segregate the use of the 0.25% non -home
rule sales tax, most other Public Works programs were shifted to the Infrastructure Fund in 2005.
Library. The 2006-2010 projections include fluids for landscaping enhancements. There are no other significant changes projected in
the operating budgets of this department, beyond application of the inflation assumptions.
Police. An increase of 0.50 FTE is included for 2006 due to the inclusion of a part-time Accreditation Manager. The necessity of this
position is expected to be temporary and the position has been removed beginning in 2007 and thereafter. There are no other significant
changes projected in the operating budgets of this department, beyond application of the inflation assumptions.
Fire. There are no significant changes projected in the operating budgets of this department, beyond application of the inflation
assumptions.
Community Development, The 2006 Budget includes $90,000 for consulting related to the key development area project. There are
no other significant changes projected in the operating budgets of this department, beyond application of the inflation assumptions.
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VILLAGE OF OAK BROOK
2006-2010 FIVE-YEAR FINANCUL PLAN
Exceptional Charges:
Exceptional Charges in the General Corporate Fund include:
• Contributions to the Police and Firefighters' Pension Funds (in lieu of property taxes), which over the last few years have increased
significantly as a result of several years of poor investment return due to market conditions.
a An annual transfer to the Sports Core Fund to cover the net costs of Polo and Open Fields programs as well as staff time associated
with the administration of community events.
• Debt service on installment contract certificates issued to fund a portion ($4 million). of the Municipal Complex Project. .
e Vehicle replacement charges based on the expected cost of replacement of the Village's vehicle fleet. In should be noted that the
amount charged was approximately $163,000 below what would usually be required in order to produce a balanced budget in the
General Corporate Fund in 2005. Beginning in 2006 and thereafter, fall funding of the amount required has been included in the
projections.
• 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:
The replacement of the Public Works Building roof, originally scheduled for 2003, has been deferred to 2007. Other significant capital
expenditures reflected in the Plan include continued outlays for maintaining our current technology systems, eventual replacement of our
financial accounting system, screening of HVAC units at various Village buildings, repairs and maintenance of Old Butler School, and
upgrades to the telephone system.
OTHER CONSIDERATIONS:
The General Corporate Fund Summary exhibit indicates that the Village will exceed its six month cash reserve requirement at the end of 2005
and the beginning in 2007 and thereafter the amount above the six month reserve requirement is expected to increase each year. Potential uses
mentioned at various times for the positive cash flow include the Village funding the cost of residential garbage collection, reductions in tax
rates for some locally administered taxes, or possible additions in staffing levels in several departments. None of these options have been
reflected in this Five -Year Plan since at this point in time the prioritization of these items would be speculative, but it does appear that some
of these options may be considered in future Plans.
M
Unrestricted Cash Available, January 1, 2005 $7,100,982
Estimated Income
Less Estimated Operating Expenses
Operating Budget
Exceptional Charges
Estimated Net Operating Income
Add Beginning of Year Cash Balance
Estimated Available Funds
Iaterfund Loan
Interfund Loan Repayment
Adjusted Cash Available
Less Capital Improvement Program
Unrestricted Cash Available at Year -End
6Months Operating
Village of Oak Brook
2006-2010 Five -Year Financial Plan
GENERAL CORPORATE FUND
Summary
2005 Budget 2005 Estimate 2006 2007
2008 2009 2010
$19,260,765 $19,418,595 $19,540,615 $20,399,345 $21,098,024 $21,935,877 $22,740,681
15,3 55,065
15,225,900
16,809,940
16,945, 402
17,470,519
18,115,219
18,73 5,28 8
1,927,555
1,912,590
2,220,320
2,285,655
2,387,775
2,468,475
2,595,150
1,978,145
2,280,105
510,355
1,168,288
1,239,729
1,352,182
1,410,243
71100,982
7,100,982
9,823,012
9,371,082
9,503,470
10,428,274
11,575,262
9,079,127
9,381,087
10,333,367
10,539,370
10,743,199
11,780,457
12,985,504
0
(25,000)
0
0
0
0
0
0
933,355
0
0
150,000
150,000
150,000
9,079,127
10,289,442
10,333,367
10,53 9,370
10,893,199
11,930,457
13,135,504
886,600
466,430
.962,285
1,035,900
464,925
355,195
144,495
$8,192,527
$9,823,012
$9,371,082
$9,503,470
$10,428,274
$11,575,262
$12,991,009
$8,127,340
,58,102,775
$8,808,983
,59,017,551
$9,307,110
$9,658,110
$9,998,144
Village of Oak Brook.
2006-2010 Five -Year Financial Plan
GENERAL CORPORATE FUND
Revenue Projections
8
2005
2005
Description
Budget
Estimate
2006
2007
2008
2009
2010
General Sales Tax
10,750,000
10,650,000
10,975,000
11,700,000
12,150,000
12,700,000
13,200,000
State Income Tax
571,000
670,000
608,000
618,000
636,000
655,000
675,000
Replacement Tax
- 190,000
253,000
260,000
268,000
276,000
285,000
293,000
York Township Road and Bridge Tax
38,000
38,000
38,000
38,000
38,000
38,000
38,000
State Income Tax -Use Tax
83,000
94,000
97,000
100,000
103,000
106,000
109,000
Charitable Games Tax
1,000
3,810
1,000
1,000
1,000
1,000
1,000
Telecommunications Tax
2,549,000
2,405,000
2,475,000
2,550,000
2,630,000
2,705,000
2,790,000
Utility Tax
1,870,000
1,970,000
2,085,000
2,150,000
2,210,000
2,280,000
2,345,000
Total Intergovernmental
16,052,000
16,083,810
16,539,000
17,425,000
18,044,000
18,770,000
19,451,000
Liquor License
103,000
106,000
110,000
113,300
116,699
120,200
123,806
Scavenger Licenses
9,000
9,000
9,000
9,000
9,000
9,000
9,000
Taxi Licenses
15,000
19,000
19,000
19,380
19,768
20,163
20,566
Tobacco License
2,250
2,250
2,250
2,250
2,250
2,250
2,250
Rare. Licenses
400
400
400
400
400
400
400
Business Licenses
0
0
250,000
255,000
260,100
265,302
270,608
Building Permits
234,600
180,000
240,000
247,200
254,616
262,254
270,122
Electrical Permits
127,500
110,000
150,000
154,500
159,135
163,909
168,826
Plumbing Permits
20,400
18,500
22,500
23,175
23,870
24,586
25,324
Alarm Application Fee
12,400
11,600
11,600
11,600
11,600
11,600
11,600
Annual Alarm Permit Fee
165
165
165
165
165
165
165
Accessory Structure Permits
0
0
5,000
5,250
5,513
5,788
6,078
HVAC Permits
0
0
125,000
131,250
137,813
144,703
151,938
Miscellaneous. Licenses & Permits
105,000
185,000
40,000
42,000
44,100
46,305
48,620
Solicitation Permits
750
750
750
750
750
750
750
Total Licenses and Permits
630,465
642,665
985,665
1,015,220
1,045,778
1,077,376
1,110,054
8
Village of Oak Brook
2006-2010 Five -Year Financial Plan
GENERAL CORPORATE FUND
Revenue Projections
2005
2005
Description
Budget
Estimate
2006
2007
2008
2009
2010
Elevator Inspections
59,200
62,500
62,500
62,500
62,500
62,500
62,500
Zoning/Subdivision Appl, Fees
15,000
29,750
23,000
23,000
23,000
23,000
23,000
Plan Review Fees
48,000
70,000
72,000
72,000
72,000
72,000
72,000
Ambulance Fees
200,000
220,000
240,000
252,000
264,600
277,830
291,722
Toll Road Fire Service
60,000
70,000
72,100
74,263
76,491
78,786
81,149
Special Services -EMS
5,000
7,000
9;000
9,000
9,000
9,000
9,000
Special Services -Fire
4,000
7,500
7,500
7,500
7,500
7,500
7,500
False Alarm -Fire
10,000
20,000
18,000
18,000
18,000
18,000
18,000
Building & Fire Inpection Fees
140,000
145,000
160,000
164,800
169,744
174,836
180,081
Passport Fees
4,500
4,000
4,000
4,000
4,000
4,000
4,000
Fingerprinting
4,300
5,000
5,000
5,000
5,000-
5,000
5,000
Special Services -Police
16,000
20,0.00
20,000
20,600
21,218
21,855
22,510
Field Services -Police
200
200
200
200
200
200
200
Misc. Support Services -Police
5,000
5,000
5,000
5,000
5,000
5,000
5,000
False Alarm -Police
40,000
42,000
42,000
42,000
42,000
42,000
42,000
Eng. Plan Review & Inspection
8,000
8,000
8,000
8,000
8,000
8,000
8,000
Subdivision Review & Inspection
2,000
11,400
5,000
5,000
5,000
5,000
5,000
Fire Plan review fees
0
0
10,000
10,000
10,000
10,000
10,000
Library Services
14,000
16,000
16,00-0
16,000
16,000
16,000
16,000
Bad Debt
(2,800)
(2,800)
(2,800)
(2,800)
(2,800)
(2,800)
(2,so0)
Total Charges for Services
632,400
740,550
776,500
796,063
816,453
837,706
859,862
Court Fines
313,000
286,000
295,060
303,000
313,000
322,000
332,000
Village Fines
35,000
20,000
25,000
25,000
25,000
25,000
25,000
Training Reimbursement -Police .
12,000
7,790
10,000
10,000
10,000
10,000
10,000
Library Fines
10,500
12,000
12,000
12,000
12,000
12,000
12,000
Library Caf6 Sales
3,000
2,000
2,000
2,000
2,000
2,000
2,000
Village of Oak Brook
2005-2010 Five -Year Financial Plan
GENERAL CORPORATE FUND
Revenue Projections
-10-
2010
0
463,010
111,763
74,470
11,921
10,000
1,052,165
255,000
12,600
0
267,600
22,740,681
2005
2005
Description
Budget
Estimate
2006
2007
2008
2009
Library Donations
5,000
15,000
28,250
0
0
0
Interest
180,000
225,000
450,000
374,843
380,139
417,131
IMF/Franchisc Fees
90,500
96,400
- 99,300
102,279
105,347
108,508
Rental Income
54,200
39,680
58,900
67,270
70,060
72,225
Road Maintenance Reimbursement
10,800
10,800
10,800
11,070
11,347
11,630
Miscellaneous
5,000
10,000
10,000
10,000
10,000
10,000
Total Other Revenues
719,000
724,670
1,001,250
917,462
938,893
990,494
Transfer From Water Fund
216,000
216,000
227,000
234,000
241,000
248,000
Transfer From Hotel/Motel Tax Fund
10,900
10,900
11,200
11,600
11,900
12,300
Transfer From Infrastructure Fund
1,000,000
1,000,000
0
0
0
0
Total lnterfund.Revenues
1,226,900
1,226,900
238,200
245,600
252,900.
260,300
Total Revenue
19,260,765
19,418,595
19,540,615
20,399,345
21,098,024
21,935,877
-10-
2010
0
463,010
111,763
74,470
11,921
10,000
1,052,165
255,000
12,600
0
267,600
22,740,681
Personnel
Materials and Supplies
Operations and Contractual
Total Operating Budget
Adjustment for Budget Goal Attainment
Exceptional Charges
Police Pension Contribution
Firefighters' Pension Contribution
Vehicle Replacement Charges
Transfer to Sports Core Fund
Transfer to Infrastructure Fund
Installment Contract Debt Service
Total Exceptional Charges
Capital Improvement Program
(See Schedule)
Total Budget
$886,600 $466,430 $962,285 $1,035,900 $464,925 $355,195 $144,495
$18,169,220 $17,604,920 $19,992,545 $20,266,957 $20,323,219 $20,938,889 $21,474,933
-11-
Village of Oak Brook
2006-2010 Five -Year Financial Plan
GENERAL CORPORATE FUND
Long -Range
Operating Budget
2005 Budget
2005 Estimate
2006
2007
2008
2009
2010
$11,738,060
$11,789,535
$12,686,560
$13,294,638
$13,953,070
$14,650,723
$15,383,260
606,435
564,055
633,805
630,595
638,340
659,423
674,115
3,010,570
2,872,310
3,489,575
3,365,993
3,419,435
3,559,874
3,663,981
$15,355,065
$15,225,900
$16,809,940
$17,291,227
$18,010,845
$18,870,020
$1.9,721,356
$16,809,940
$16,945,402
$17,470,519
$18,115,219
$18,735,288
$469,760
$481,245
$521,535
$548,000
$575,000
$604,000
$634,000
524,855
498,405
515,865
541,700
568,700
597,000
627,000
300,000
300,000
494,685
525,290
566,475
578,200
639,000
104,500
104,500
136,300
109,300
112,300
115,300
118,300
154,000
154,000
177,900
183,200
188,700
194,400
200,200
374,440
374,440
374,035
378,165
376,600
379,575
376,650
$1,927,555
$1,912,590
$2,220,320
$2,285,655
$2,387,775
$2,468,475
$2,595,150
$886,600 $466,430 $962,285 $1,035,900 $464,925 $355,195 $144,495
$18,169,220 $17,604,920 $19,992,545 $20,266,957 $20,323,219 $20,938,889 $21,474,933
-11-
Village of Oak Brook
2006-2010 Five Year Financial Plan
General Corporate Fund
Capital Improvement Program
2005 2005
Budget Estimate 2006 2007 2008 2009 2010
Legislative and General Management
I.T. Implementation:
Computer Hardware And Software
Financial System Upgrade to Windows -Based System
Telephone System & Equipment Upgrade
Mid Volume Copier (West Wing)
Mid Volume Copier (Fire)
Low Volume Copier (Village Administration)
High Volume Copier (Village Administration)
Microfilm Reader/Printer
Reverse 911 Upgrade (Emergency Management)
Digital Siren Monitoring System (Emergency Management)
Finance
Forms Burster
Public Works
Leaf Boxes
Platform Lift
Engineering and Cgpital Projects
Municipal Complex:
Undesignated Remodeling
laterior/Exterior Signage
Roof -top HVAC Screening
Ground HVAC Screening
165,000 159,640 184,785 130,000
100,000
155,000 0 225,000
10,000 11,460
18, 000
8,000
10,000
15,000
10,500
10,000
10,000 12,450 10,000
20,000
35,000 10,000 30,000
86,250 40,000 75,000
-12-
23,000
24,000
10,000
10,000
20,000
96,695 91,195 98,495
8,000
10,000 10,000 10,000
Relocate Electric Service -PD Roll Call Room
Tuck pointing
Color Aerial Photograph
Recoat North Walkway
Reception Area Remodeling
Server Room Auxiliary Cooling System
Galvanized Plumbing Replacement
VH/PW Masonry Sealing
Exterior Wall Removal
FS No. 1 Ductwork Cleaning
VH Ductwork cleaning
Door Security System
FS No. 1 Humidifier
Ceiling Tile & Light Fixture Replacement
Fire Station #2:
Interior Lighting Improvements
Apparatus Bay Floor Resurfacing
Interior/Exterior Painting
Ductwork Cleaning
Locker and Flooring Replacement
Exterior Lighting Improvements
Bathrooms & Bunkroom Remodeling
Landscaping Improvements
HVAC System Replacement
Architectural Space Needs Study
Apparatus Bay Heating
Carpeting Replacement
Village of Oak Brook
2006-2010 Five Year Financial Plan
General Corporate Fund
Capital Improvement Program
2005 2005
Budget Estimate
2006 2007 2008 2009 2010
28,000 28,000
25,000 27,125
25,000
25,000
8,500 4,900
7,500
25,000
5,000 600
25,000
15,000
25,000
20,000
5,250 5,750 6,000
5,000 5,000
50,000
9,500
21,000 21,000
20,000 20,000
5,000 5,000
-13-
15,000
6,000
3 0, 000
50,000
5,500 6,000
75,000
5,000 5,000
40,000
20,000
25,000
14,000
Public Works Building:
Door Replacement
Retaining Wall Improvements
Rear Entrance Stairway Replacement
Office Light Fixtures and Ceiling Replacement
Garage Lighting improvements
Kitchenette remodeling
Roof Replacement & HVAC Screening
Other Improvements:
Old Butler School
Landscaping
HVAC Screening
Additional Shelving
Refurbish exterior wood paneling
Paint HVAC units
Lighting Upgrade
Police
Mid Volume Copier
Duty Weapon Replacements
IVAC MDT/Video Systems
Radio System Upgrades
Additional Video Monitoring Equipment
Upgrade range equipment
Garage Doors Replacement
Village of Oak Brook
2006-2010 Five Year Financial Plan
General Corporate Fund
Capital Improvement Program
2005 2005
Budget Estimate 2006 2007 2008 .2009 2010
12,000 6,430
5,000
15,000
7,500
7,500
10,000
294,400
50,000 9,620 15,000 74,000 175,000
20,000 2,600 40,000 20,000 20,000 20,000 20,000
46,000 14,100 40,000
10,250 20,000
15,000
5,000
13,000
20,000 13,505
34,000 34,000 37,500
17,200 17,350 13,000
22,650 22,650
10,000
-14-
50,000
15,000
25,000
Fire
Breathing Apparatus Upgrade
Station 2 Lockers
Organic Vapor Monitor
EMS Cot Replacement
Replace "Freddie the Fire Truck"
Portable Radios
Fire Hose Testing Pump
Bunker Clothing
Multi Gas Detectors
Scuba Equipment
Opticom Equipment
Upgrade Engines to Bi -Phasic
Total General Corporate Fund
Village of Oak Brook
2006-2010 Five Year Financial Plan
General Corporate Fund
Capital Improvement Program
2005 2005
Budget Estimate 2006
2007 2008 2009 2010
-15-
90,000
9,000 6,000 10,000
5,000
11,000 11,000
11,000
11,000
11,000
8,000
10,000
10,000
10,000
10,000 10,000
10,000
17,480
5,000
9,000
886,600 466,430 962,285 1,035,900
464,925
355,195 144,495
-15-
VILLAGE OF OAK BROOK
2006-2010 FIVE-YEAR FINANCIAL PLAN
HOTEUMOTEL TAX FUND
DESCRIPTION:
This fund is the repository for funds collected from imposition of the Village's 1% 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. Most expenditures of funds from the tax are recommended by the Hotel, Convention and Visitors Committee and are subject to the
specific approval of the Village Board.
OVERVIEW:
Revenue:
2005 revenues are projected to be $35,000 or 11.6% over budget. For 2006, revenue has been budgeted conservatively with an increase of
1.5% projected due to potential hotel renovations. In future years, revenue is projected to increase 3% per year.
Operations:
For 2006, expenditures are based on the request, of the Hotel Tax Committee. For 2007 and thereafter, the projections reflect annual
expenditures approximating the annual revenue from the tax.
Exceptional Charges:
The Plan reflects an annual transfer to the General Corporate Fund for administrative and marketing services rendered to the fund and to the
Hotel, Convention and Visitors Committee.
FUTURE CONSIDERATIONS:
Should the Village be granted home -rule authority. by referendum, the rate of tax imposed could be increased from the current I% to 5% and
there would no longer be a restriction as to use. Any additional funds generated from this tax, would be available to fund general government
operations.
-16-
Village of Oak Brook
2006-2010 Five -Year Financial Plan
HOTEL/MOTEL TAX FUND
Summary
-17-
2005 Budget
2005 Estimate
2006
2007
2008
2009
2010
Unrestricted Cash Available, January 1, 2005
$310,698
Estimated Income
$305,000
$340,000
$345,000
$360,000
$371,000
$382,000
$393,000
Less Estimated Operating Expenses
Operating Budget
460,000
384,000
453,000
360,000
371,000
382,000
393,000
Exceptional Charges
10,900
10,900
11,200
11,600
11,900
12,300
12,600
Estimated Net Operating Income
(165,900)
(54,900)
(119,200)
(11,600)
(11,900)
(12,300)
(12,600)
Add Beginning of Year Cash Balance
310,698
310,698
255,798
136,598
124,998
113,098
100,798
Estimated Available Funds
144,798
255,798
136,598
124,998
113,098
100,798
88,198
Interfund Loan
0
0
0
0
0
0
0
Interfund Loan Repayment
0
0
0
0
0
0
0
Adjusted Cash Available
144,798
255,798
136,598
124,998
113,098
100,798
88,198
Less Capital Improvement Program
0
0
0
0
0
0
0
Estimated Unrestricted Cash Balance at Year -End
$144,798
$255,798
$136,598
$124,998
$113,098
$100,798
$88,198
-17-
Hotel/Motel Tax
Interest
Total Revenue
Village of Oak Brook
2006-2010 Five -Year Financial Plan
HOTELIMOTEL TAX FUND
Revenue Projections
2005 Budget
2005 Estimate 2006
2007
2008
2009
2010
$300,000
$335,000 $340,000
$355,000
$366,000
$377,000
$388,000
5,000
5,000 5,000
5,000
5,000
5,000
5,000
$305,000
$340,000 $345,000
$360,000
$371,000
$382,000
$393,000
Operations and Contractual
Total Operating Budget
Exceptional Charges
Transfer to General Fund
Total Exceptional Charges
Total Budget
Village of Oak Brook
2006-2010 Five -Year Financial Plan
HOTEL/MOTEL TAX FUND
Long -Range Operating Budget
2005 Budget
2005 Estimate
2006
2007
$11,900
$12,300
$12,600
$460,000
$384,000
$453,000
$360,000
$460,000
$384,000
$453,000
$360,000
2008 2009 2010
$371,000 $382,000 $393,000
$371,000 $382,000 $393,000
$10,900
$10,900
$11,200
$11,600
$11,900
$12,300
$12,600
$10,900
$10,900
$11,200
$11,600
$11,900
$12,300
$12,600
$470,900
$394,900
$464,200
$371,600
$382,900
$394;300
$405,600
-19-
VILLAGE OF OAK BROOK
2006-2010 FIVE-YEAR FINANCIAL PLAN
MOTOR FUEL TAX FUND
DESCRIPTION:
The Motor Fuel Tax (MFT) Fund. is the repository for funds distributed to the Village by the State of Illinois pursuant to the MFT distribution
formula. State law limits use of these funds to specified purposes. This edition of the Five Year Financial Plan continues the practice of
allocating MFT funds to eligible street resurfacing and reconstruction projects, as well as to certain preventive maintenance activities.
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. It is not projected that ,
fuel sales statewide will increase significantly over the planning period.
Capital Improvements:
The 2006-2010 Five -Year Financial Plan reflects a transfer each year to fund the'am-aal roadway cracksealing program as well as portions of
the paving program in 2007 and 2009.
-21-
VilIage'of Oak Brook
1006-2010 Five -Year Financial Plan
MOTOR FUEL TAX FUND
Summary
2005 Budget
2005 Estimate 2006
2007
2008 _
2009.
2010
Unrestricted Cash Available, January 1, 2005 $437,745
Estimated Income
$254,500
$254,000 $262,000
$260,950
$261,808
$261,060
5260,503
Less Estimated Operating Expenses
Operating Budget
0
0 0
0
0
0
0
Exceptional Charges
484,000
472,500 68,000
479,000
44,000
473,000
77;000
Estimated Net Operating income
(229,500)
(218,500) 194,000
(218,050)
217,808
(211,940)
183,503
Add Beginning of Year Cash Balance
437,745
437,745 219,245
413,245
195,195
413,003
201,063
Estimated Available Funds
208,245
219,245 413,245
195,195
413,003
201,063
384,565
Interfund L o an
0
0 0
0
0
0
0
Intcrfund Loan Repayment
0
0 0
0
0
0
0
Adjusted Cash Available
208,245
219,245 413,245
195,195
413,003
201,063
384,565
Less Capital Improvement Program
0
0 0
0
0
0
D
Estimated Unrestricted Cash Balance at Year -End
$208,245
$219,245 $413,245
$195,195
$413,003
$201,063
$384,565
-21-
Motor Fuel Tax Allotments
Interest
Total Revenue
Village of Oak Brook
2006-2010
Five -Year Financial Plan
MOTOR FUEL TAX FUND
Revenue Projections
2005 Budget
2005 Estimate 2006
2007
208
2009
2010
$251,500
$248,000 $254,000
$254,000
$254,000
$254,000
$254,000
3,000
6,000 . 8,000
6,950
7,808
7,060
6,503
$254,500
$254,000 $262,000
$260,950
$261,808
$261,060
$260,503
Village of Oak Brook
2006-2010 Pive-Year Financial plan
MOTOR FUEL TAX FUND
Yong -Range Operating Budget
2005 Budget 2005 Estimata 2006 2007 200E 2009 2010
Excepti.cnal Charges
Transfer to Lni-&struc zc Fund $484,000 $472,500 $68,000 $479,000 $44,000 $473,000 $77,000
Total Exceptional Charges $454,000 $472,500 $65,000 $479,000 $44,000 $473,000 $77,000
VILLAGE OF OAK BROOK
2006-2010 FIVE-YEAR FINANCIAL PLAN
FOREIGN FIRE INSURANCE TAX FUND
DESCRIPTION:
This fund is the repository 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 to remain at the estimated level of.$46,320 for 2006 and $47,000 per year over the remainder of the planning period.
Operations:
Operating expenditures are programmed for uses as determined by the Foreign Fire Insurance Tax Board.
-24-
Village of Oak Brook
200'6-2010 Five -Year Financial Plan
FOREIGN FIRE INSURANCE TAX FUND
Summary
-25-
2005 Budget
2005 Estimate
2006
2007
2008
2009
2010
Unrestricted Cash Available, January 1, 2005 $138,085
Estimated Income
$51,500
$46,820
$46,820
$47,500
$47,500
$47,500
$47,500
Less Estimated Operating Expenses
Operating Budget
14,850
10,910
54,150
25,000
25,000
25,000
25,000
Exceptional Charges
0
0
0
0
0
0
0
Estimated Net Operating income
36,650.
35,910
(7,330)
22,500
22,500
22,500
22,500
Add Beginning of Year Cash Balance
138,085
138,085
152;030
101,700
94,200
86,700
79,200
Estirrmated Available Funds
174,735
173,995
144,700
124,200
116,700
109,200
101,700
Interfund Loan
0
0
0
0
0
0
0
Interfund Loan Repayment
0
0
0
0
0
0
0
Adjusted Cash Available
174,735
173,995
144,700
124,200
116,700
109,200
101,700
Less Capital Improvement Program
37,000
.21,965
43,000
30,000
30,000
X0,000
30,000
Estimated Unrestricted Cash .BMance atYear-End
$137,735
$152,030
$101,700''
$94;200
$86,700
$79,200
$71,700
-25-
Foreign Fire Insurance Tax
Interest
Total Revenue
'pillage of Oak Brook
200b-2010 Five -Year 'Ifinancial Plan
FOREIGN FIRE INSURANCE TAX FUND
Revenue Projections
2005 Budget
2005 Estimate 2006 2007
2008
2009
2010
$51,000
$46,320 $46,320 $47,000
$47,000
$47,000
$47,000
500
500 500 500
500
500
500
$51,500
$46,820 $46,820 $47,500
.$47,500.
$47,500
$47,500
-27-
Village of Oak gook
2006-2010 Five -Year Financial PIan
FOREIGN FUZE WSURA.NCE TAX FUND
Long -Range Operating Budget
2005 Budget
2005 Estimate 2006
2007
2008
-2009
2010
Personnel
$2,200
$2,235 $15,800
$2,500
$2,500
$2,500
$2,500
Materials and Supplies
12,650
7,600 26,750
15,000
15,000
15;000
15,000
Operation & Contractual
1,075 11,600
7,500
7,500
7,500
7,500
Total Operating Budget
$14;850
$10,910 $54,150
$25,000
$25,000
525,000
$25,000
Capital Improvement Program
Station Enhancements'
25,000
10,705 43,000
30,000
30,000
30,000
30,000
Laptop Computers fox Remote EMS Data Entry
12,000
11,260
Total Capital Improvement Program
$371-000
$21,965 $43,000
$30,000
$30,000
$30,000
$30,000
Total Budget
$51,850
•
$32,875 07,150
$55,000
i
$55;000
$55,000
$55,000
-27-
VIILLAGE OF OAK BROOK
2006-2010 FIVE-YEAR FINANCLk.L 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. Periodic
transfers from the Motor Fuel Tax Fund are 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: Utility tax revenue previously deposited in this Fund was shifted to the General Corporate Fund.beginning in 2005. Receipts from
the non -home rule sales tax are projected at approximately $2.5 million for 2006 and are projected to grow approximately 3% per year for
2006-2008 and 4% in 2009-2010 (See GENERAL ASSUMPTIONS). Transfers from the Motor Fuel Tax Fund are reflected annually to fund
the roadway cracksealing program and in 2007 and 2009 to partially fund the annual paving programs in those years. Revenue from grants
that have been secured for bikeway projects is also reflected. Transfers from the Water Fund and General Corporate Fund are reflected in
order to allocate costs (mostly administrative) that are funded by the Infrastructure Fund that relate to activities in these funds.
Operations:
There are no significant changes beyond application of the inflation assumptions.
Capital Improvements:
Capital projects for streets are scheduled consistent with the 2006-2015 Roadway Maintenance Plan. Expenditures for safety pathways are
based on the most recent project schedules for the. various grant projects. Also included on the capital schedule is replacement of the street
light cable on 22nd Street and various public works equipment. In recognition of the fact that frequently these projects come in below budget,
in 2007 and thereafter the total capital amount is reduced by an "experience factor" in order to better estimate. the amount that will likely be
expended.
Village of Oak Brook
2006-2010 Five -Year Financial Plan
INFRASTRUCTURE FUND
Summary
2005 Budget 2005 Estimate 2006
Unrestricted Cash Available, January 1, 2005 $2,264,034
2007
2008
2009 2010
Estimated Income $3,475,900 $3,435,165 $3,109,475 $3,538,489 $3,221,380 $3,786,445 $3,547,824
Less Estimated Operating Expenses
Operating Budget
1,916,995
1,800,325
2,050,765
2,053,131
2,119,090
2,187,179
2,257,460
Exceptional Charges
102,260
102,260
107,340
118,080
113,175
129,795
145,080
Estimated Net Operating income
1,456,645
1,532,580
951,370
1,367,278
989,116
1,469,471
1,145,284
Add Beginning of Year Cash Balance
2,264,034
2,264,034
1,089,394
324,734
292,012
281,128
1,050,599
Estimated Available Funds
3,720,679
3,796,614
2,040,764
1,692,012
1,281,128
1,750,599
2,195,883
Residual Equity Transfer To General Fund
(1,000,000)
(1,000,000)
0
0
0
0
0
Adjusted Cash Available
2,720,679
2,796,614
2,040,764
1,692,012
1,281,128
1,750,599
2,195,883
Less Capital Improvement Program
2,355,450
1,707,220
1,716,030
1,400,000
1,000,000
700,000
1,200,000
Estimated Unrestricted Cash Balance at Year -End
$365,229
$1,089,394
$324,734
$292,012
$281,128
$1,050,599
$995,883
6 Months Operating
$958,498
9900,163
$1,025,383
$1,026,565
$1,059,545
$1,093,590
$1,128,730
-29-
Village of Oak Brook
2006-2010 Five -Year Financial Plan
INFRASTRUCTURE FUND
Revenue Projections
2005 Budget
2005 Estimate
2006
2007
2008
2009
2010
Non -Home Rule Sales Tax
$2,420,000
$2,420,000
$2,493,000
$2,667,000
$2,775,000
$2,900,004
$3,015,000
Utility Tax
0
0
0
0
0
0
0
Grants
225,000
182,765
129,975
0
0
0
0
Interest
15,000
28,000
50,000
12,989
11,680
11,245
42,024
Transfer From Motor Fuel Tax Fund
484,000
472,500
68,000
479,000
44,000
473,000
77,000
Transfers From Other Funds
331,900
331,900
368,500
379,500
390,700
402,200
413,800
Total Revenue
$3,475,900
$3,435,165
$3,109,475
$3,538,489
$3,221,380
$3,786,445
$3,547,824
-31-
Village of Oak Brook
2006-2010 Five -Year Financial Plan
INFRASTRUCTURE FUND
Long -Range Operating Budget
2005 Budget
2005 Estimate 2006
2007
2008
2069
2010
Personnel
$1,376,930
$1,341,260 $1,465,755
$1,539,043
51,615,995
$1,696,795
$1,781,634
Materials and Supplies
110,335
95,090 127,710
130,903
134,175
137,530
140,968
Operations and Contractual
429,730
363,975 457,300
468,733
480,451
492,462
504,774
Capital Outlay (under $5,000)
0
0 0
0
0
0
0
Total Operating Budget
1,916,995
1,800,325 2,050,765
2,138,678
2,230,621
2,326,786
2427,376
Adjustment for Budget Goal Attainment
2,050,765
2,053,131
2,119,090
2,187,179
2,257,460
Exceptional Charges
Vehicle Replacement Charges
102,260
102,260 107,340
118,080
113,175
129,795
145,080
Total Exceptional Charges
102,260
102,260 107,340
118,080
113,175
129,795
145,080
Capital Improvement Program
(See Schedule)
2,355,450
1,707,220 1,716,030
1,400,000
1,000,000
700,000
1,200,000
Total Budget
54,374,705
$3,609,805 $3,874,135
$3,571,211
$3,232,265
$3,016,974
$3,602,540
-31-
Roadway Improvements
Street Resurfacing/Reconstruction
Street Pavement Rejuvenation/CRF
Street Cracksealing
Street Micro Surfacing
Stormwater Management Improvements
Miscellaneous Drainage Improvements
Safety Pathway Improvements
Regional Trail
York Road/Harger Road Path
31st Street/Rt. 83 Pathway Project
35th St. Path (St. Stephens -St. Paschal)
Harger Road (Salt Greek -Yorkshire)
35th St Pathway
IDOT Butterfield/Midwest Rd Sidewalk
22nd St & Butterfield Road Sidewalks
IL 56/Midwest Road Sidewalk
Public Works Capital
Traffic Signal Controllers (Spring/Harger)
Fiber Optic Controllers
Pavement Marling Machine
Signal Improvements Fire Station #1
Chloride Pump & Piping Replacement
Chloride Tank -Replacement
Salt Dome Repairs
New street light heads (Trinity Lakes)
Traffic Signal Controllers (Jorie/Kensington)
Copier Replacement
Street lighting inspection survey
Street Light Cable Replacement
62,000 15,000
151,000
Village of Oak Brook
300,000
2006-2010 Five -Year Financial Plan
391,000
INFRASTRUCTURE FUND
73,000
Capital Improvement Program
2005 Budget
2005 Estimate 2006
$1,135,200
$806,920 $1,138,800
118,000
100,905 65,000
84,000
72,500 68,000
62,000 15,000
151,000
70,700
300,000
375,100
391,000
232,500
10,000 8,000
13,000
5,250
6,000 5,595
30,000
5,000 5,000
15,000 15,000
10,000
-3.2-
54,930
179,000
10,000
118,000
5,000
1,000
13,500
5,500
10,000
5,200
2007
$959,000
77,000
79,000
30,000
120,000
38,000
15,000
7,000
10,000
225,000
2008
$ 823,000
65,000
44,000
178,000
30,000
2009
2010
$621,000
$962,000
83,000
145,000
73,000
77,000
56,000
30,000 30,000
201,000
Engineering Department
GPS Unit
Print Machine Replacement
GIS Software
Scanner & Plotter
Total
Total Adjusted for Experience Factor
Village of Oak Brook
2006-2010 Five -Year Financial Plan
INFRASTRUCTURE FUND
Capital Improvement Program
2005 Budget 2005 Estimate 2006 2007 2008 2009 2010
15,000
5,000 7,000
10,100
25,000
$2,355,450 $1,707,220 $1,716,030 $1,560,000 $1,140,000 $807,000 $1,471,000
$2,355,450 $1,707,220 $1,716,030 $1,400,000 $1,000,000 $700,000 $1,200,000
-33-
VILLAGE OF OAK BROOK
2006-2010 FNE-YEAR FINANCIA-L PLAN
WATER FUND
DESCRIPTION:
The water utility is one of two large enterprises operated by the Village. It serves approximately 5,600 customers, 2,400 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 sale of water is based on an average of 1.32 billion gallons billed per year and usage is projected to be flat in order to
mitigate aberrations due to weather. Increases in volume sold as a result of new development are not deemed material to the projection.
After maintaining an artificially low water rate of $2.35 per 1,000 gallons through 2001 (four years longer than anticipated originally), the rate
was increased to $2.60 in 2002 and further to $2.85 in 2004. In order to properly plan for and fund expected long-term capital outlays due to
the aging of the system (which are significant) as well as potential storage enhanpements, a comprehensive water rate study was completed
during 2005. As a result of this'study, the water rate was increased by the Village Board to $3.25 per 1,000 gallons effective January 1, 2006.
Thereafter, the water rate is expected to increase between 3%-4% per year.
Operations: Based on the results of the settlement regarding issues surrounding the Du Page Water Commission, the target rate for water
purchased is expected toremain flat for the duration of the planning period. There are no other significant changes projected in the operating
budgets of this department, beyond application of the inflation assumptions.
Capital Im rovements: The capital improvement program reflects various improvements to the distribution system, painting of the Village's
elevated storage tanks, continued maintenance of the Village's wells in order to have them available for emergency service, and ongoing
maintenance of storage and pumping facilities. (including significant outlays for pump replacement).
2005 Budget 2005 Estimate 2006 2007 2008 2009 2010
Unrestricted Cash Available, January 1, 2005 $2,908,196
Estimated Income $4,404,000 $4,483,000 $5,032,000 $5,186,101 $5,402,571 $5,639,610 $5,886,977
Less Estimated Operating Expenses
Operating Budget
1,141,785
1,056,840
1,180,385
1,151,014
1,213,234
1,205,120
1,258,031
Exceptional Charges
2,921,075
2,706,145
2,628,070
2,646,625
2,658,625
2,670,625
2,682,625
Estimated Net Operating Income
341,140
720,015
1,223,545
1,388,462
1,530,712
1,763,865
1,946,321
Add Beginning of Year Cash Balance
2,908,196
2,908,196
2,986,976
3,070,471
2,788,653
3,927,090
5,443,155
Estimated Available Funds
3,249,336
3,628,211
4,210,521
4,458,933
4,319,365
5,690,955
7,389,475
Less Capital Improvement Program
680,350
641,235
1,140,050
1,670,280
392,275
247,800
324,375
Estimated Unrestricted Cash Balance at Year -End
$2,568,986
$2,986,976
$3,070,471
$2,788,653
$3,927,090
$5,443,155
$7,065,100
-35-
Water Sales
Unmetered Sales
Connection Fees
Meter Fees
Special Services
Interest
Miscellaneous
Total Revenue
Village of Oak Brook
2006-2010 Five -Year Financial Plan
WATER FUND
Revenue Projections
2005 Budget
2005 Estimate
2006
2007
2008
2009
2010
$4,223,000
$4,268,000
$4,767,000
$4,933,845
$5,106,530
$5,285,255
$5,470,242
20,000
25,000
25,000
20,000
20,000
20,000
20,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
5,000
10,000
10,000
5,000
5,000
5,000
5,000
21,000
21,000
21,000
21,000
21,000
21,000
21,000
35,000
60,000
110,000
107,256
151,042
209,352.
271,735
50,000
49,000
49,000
49,000
49,000
49,000
49,000
$4,404,000
$4,483,000
$5,032,000
$5,186,101
$5,402,571
$5,639,610
$5,586,977
-36-
Village of Oak Brook
2006-2010 Five -Year Financial Plan
WATER FUND
Long -Range Operating Budget
2005 Budget 2005 Estimate 2006 2007
Personnel
Materials and Supplies .
Operations and Contractual
Total Operating Budget
Adjustment for Budget Goal Attainment
Exceptional Charges
DWC Fixed and O & M Charges
Transfer To General Corporate Fund
Transfer To Infrastructure Fund
Vehicle Replacement Charges
Total Exceptional Charges
Capital Improvement Program
(See Schedule)
2008 2009 2010
$603,950
$604,980
$643,375
$677,644
$709,426
$746,997
$782,247
90,365
87,295
81,705
86,536
88,161
85,916
87,921
447,470
364,565
455,305
422,433
466,199
435,634
468,163
$1,141,785
$1,056,840
$1,180,385
$1,186,613
$1,263,786
$1,268,548
$1,338,331
$2,670,625
$2,682,625
$1,180,385
$1,151,014
$1,213,234
$1,205,120
$1,258,031
$2,508,345
216,000
155,000
41,730
$2,921,075
$680,350
$2,293,415
$2,193,395
$2,193,395
$2,193,395
$2,193,395
$2,193,395
216,000
227,000
234,000
241,000
248,000
255,000
155,000
167,000
172,000
177,000
182,000
187,000
4.1,730
40,675
47,230
47,230
47,230
47,230
$2,706,145
$2,628,070
$2,646,625
$2,658,625
$2,670,625
$2,682,625
$641,235 $1,140,050 $1,670,280 $392,275 $247,800 $324,375
Total Budget $4,743,210 $4,404,220 $4,948,505 $5,467,919 54,264,134 $4,123,545 $4,265,031
-37-
Distribution Improvements:
Undesignated/Miscellaneous
Midwest Road
Windsor Drive
Butterfield Road
Avenue Barbizon
I-294 Toll Plaza
Westdale Gardens
Sheffield Lane
Adams/Madison/Glendale
Well Maintenance:
Well #1 (22nd & Spring)
Well #2 (22nd & Rt. 83)
Well #3 (Tower Drive)
Well 95 (Windsor Drive)
Well 96 (31st & Meyers)
Well 97 (Midwest Rd. & I-88)
Storage and Pumps:
Reservoir B Inspection
Reservoir B Pump & Motor Replacement
Water Meter Replacement
SCADA System Improvements
Water System Security
Water Rate Study
Elevated Tank Painting
Trenching/Shoring Equipment
Computer Model Upgrade
Reservoir B Roof Replacement
Total Capital Improvement Program
2007
10,000
27,500
135,000 1,000,000
68,000 69,000
70,000
16,000
Village of Oak Brook
2006-2010 Five -Year Financial Plan
18,000
WATER FUND
1,185
Capital Improvement Program
2005 Budget
2005 Estimate 2006
10,000
10,000
52,500
13,200 248,500
8,000
32,230
254,000
243,700 15,000
115,000
98,000 20,000
175,000
2007
10,000
27,500
135,000 1,000,000
68,000 69,000
70,000
16,000
16,000
18,000
1,185
417,000
71,850
34,150
58,320
59,780
35,000
35,000
42,000
28,000
25,000
25,000
25,000
25,000
440,000.
15,000
30,000
2008
10,000
250,000
71,000
2009
10,000
175,000
2010
260,000
61,275 62,800 64,375
VILLAGE OF OAK BROOK
2006-2010 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 nearly all costs of the Sports Core Fund in 2005
(including debt service). Although the operating projections indicate an interfund loan of $25,000 being needed for 2005, the amount is
contingent on the operating results for the last two months of the year could vary somewhat from the amount included. It should be noted that
for the first time in several years, a loan amount was not required- for 2004. This was a significant improvement over recent years when for
the period of 2001 through 2003 an interfund loan averaging in excess of $166,000 was needed to fund operations.
For 2006, the focus will be on improving the operating results at the Bath and Tennis Clubhouse by increased marketing activities in order to
increase utilization of the clubhouse.
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 increased activity in the Food .& Beverage operation. Capital improvements completed
over the past several years were planned with a view toward making more favorable operating results possible on an annual basis.
-39-
Cash Available, January 1, 2005 $184,684
Estimated Income
Less Estirnated Operating Expenses
Operating Budget
Exceptional Charges
Estimated Net Operating Inoome
Add Beginning of Year Cash Balance
Estimated Available Funds
Interfund Loan
Interfund Loan Repayment
Adjusted Cash Available.
Less Capital Impfovement Program
Estimated Cash Balance at Year -End
Village of Oak Brook
2006-2010 Five -Year Financial Plan' .
SPORTS CORE FUND -CONSOLIDATED
Summary
2005 Budget
2005 Estimate
2006
2007
2008
2009
2010
$3,693,160
$4,621,760
$3,813,875
$3,957,320
54,149,474
54,353,146
$4,567,973
3,321,200
3,295,320
3,441,495
3,536,374
3,636,115
3,749,058
3,855,052
201,540
201,540
196,150
145,750
219,820
217,730
110,000
170,420
1,124,900
176,230
225,196
293,538
386,359
602,921
184,684
184,684
293,789
103,019
179,215
239,753
294,112
355,104
1,309,534-
470,019
328,215
472,753
626,112
897,033
0
25,000
0
0
0
0
0
0
(933,355)
0
0
(150,000)
(150,00'0)
(150,000)
355,104
401,229
470,019
3281215
322,753
476,112
747,033
244,000
107,440
367,000
149,000
83,000
182,000
154,000
$111,104.
$293,789
$103,019
$179,215
$239,753
$294,112
$593,033
Sports Core Operations
Golf Surcharge
Capital Improvements
Total
Village of Oak Brook
2006-2010 Five -Year Financial .Pian
SPORTS CORE FUND -CONSOLIDATE]]
Revenue Projections
2005 Budget 2005 Estimate 2006
2007
2008
2009.
2010
$3,620,410 $3,451,695 $3,741,125
$3,884,570
$4,076,724
$4,280,396
$4,495,223
72,750 72,750 72,750
72,750
72,750
72,750
72,750
0 1,097,315 0
0
0
0
0
$3,693,160 $4,621,760 $3,813;875
$3,957,320.
$4,149,474
$4,353,146
$4,567,973
Personnel -
Materials and Supplies
Operations and Contractual
Total
Exceptional Charges
Irrigation System Debt Service
B&T Clubhouse Addition Debt Service
Total
Capital Improvement Program
Sports Core Opezations
Golf Slucharge
Capital Impzovement
Total
Total Budget
Village of Oak Brook
2006-2010 Five -Year Financial Plan
SPORTS CORE FUND -CONS OLIDATED
Long -Range Operating Budget
2005 Budget
2005 Estimate
2006
2007
2008
2009
2010
100,000
0
$1,923,305
$1,890,410
$1,925;265
$1,979,504
$2,037,507
$2,097,334
$2,159,047
772,730
810,450
830,250
852,838
876,046
899,891
924,390
625,165
594,460
685,980
704,032
722,562
751,833
771,615
$3,321,200
$3,295,320
$3,441,495
$3,536,374
$3,636,115
$3,749,058.
$3,855,052
107,440
107,440
103,250
104,050.
104,620
104,930
0
94,100
94,100
92,900
91,700.
125,200
112,800
110,000
$201,540
$201,540
$196,150
$195,750
$219,820
$2.17,730
$110,000
$144,000
$107,440
$137,000
$149,000
$83,000
$87,000
$94,000
100,000
0
230,000
0
0
95,000
60,000
0
0
0
0
0'
a
0
$244,000
$107,440
$367,000
$149,000
$63,000
$182,000
$154,000
$3,766,740
$3,604,300
$4,004,645
.13-,881,124
$3,938,935
$4,148,788
$4,119,052
VILLAGE OF OAK BROOK
2006-2010 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 approximately 265 throughout the planning period. Unlimited and
Corporate membership fees are projected to increase $50 in each year. Junior and senior membership fees increase $25 per year. Daily greens
fees increase $.50 to $1.00 per round per year and cart rental fees, which were increased by $1.00 in 2005 to coincide with the replacement of
the cart fleet, are projected to remain flat for the planning period. Other revenues are adjusted consistent with market factors.
In 2004 the membership structure for the Bath & Tennis Club was significantly revised in that all membership categories became an unlimited
membership, fees for most classes of memberships were actually reduced, and all family memberships were given three free family passes for
a series of "Family Night" membership events. These initiatives proved to be very successful as indicated by a 79% increase in the number of
resident family memberships for 2004. Although for 2005 the number of resident family members declined approximately 10% from 2004,
the number of members still has increased significantly over 2003 and prior. Marketing efforts are scheduled to increase for 2006 in order to
increase this membership category. For the 2006-2010 Five Year Plan, the number of memberships are projected to increase 5% per year, the
annual fee for family memberships is projected to increase $50 in 2006 and $25 in 2007 and thereafter. Individual memberships are projected
to increase $25 per year. The number of free family night passes will remain at three for the duration of the planning period
Food & beverage revenues are projected on the basis of 221 total events for 2006, which is an increase of 7 events over the 2005 estimated
amount. Thereafter, a gradual increase in the number of larger events and total attendance is projected. For weddings events, which are the
most significant revenue category and have experienced declines in recent years, the number of events are budgeted at the same level as 2005
(21). A significant increase in the number of people per wedding is included (based on the weddings booked through November, 2005) as
well as a price increase of 2.8% per person. Thereafter, the number of weddings is projected to increase gradually to 40 in 2010. An increase
of approximately 5% per year is also included for the private party ,event category. In order to realize the projections contained here, an
increased marketing program has been implemented at the end of 2005 and is expected to continue into 2006.
-43-
VILLAGE OF OAK BROOK
2006-2010 FIVE-YEAR FINANCIAL PLAN
Operations: There are no significant changes projected in the operating budgets of this department, beyond application of the inflation
assumptions and assumptions related to changes in the volume of business
Exceptional Charges: Exceptional charges include debt service on installment contract certificates issued to fund the expansion of the Bath &
Tennis Clubhouse and 50% of the debt service on the golf irrigation system installment contract certificates.
Capital Improvements: The capital improvement program in the Sports Core Fund Operations presentation reflects an ongoing program of
maintaining existing equipment and facilities. Other improvements are reflected in the Golf Surcharge Account.
Village of Oak Brook
.2006-2010 Mw -Year Financial Plan
SPORTS CORE FUND OPERATIONS
,S�uuivary -
-45-
2005 Budget
2005 Estimate
2006
2007
200.8
2009
2010
Unrestricted Cash Available, January 1, 2005 $16,481
Estimatedlncome
$3;620,410
$3,451,695
$3,741,125
$3,884,570
$4,076,724
$4,280,396
$4,495,223
Less Estimated Operating Expenses
Operating Budget
3,321,200
3,295,320
3,441,495
3,536,374
3,636,115
3,749,058
3,855,052
Exceptional Charges
147,820
147,820
,144,525
143,725
167,510
165,265
110,000
Estimated Net Operating Income
151,390
8,555
155,105
204,471
273,098
366,074
530,171 .
Add Beginning of Year Cash Balance
16,481
16,481
26,556
44,661
100,132
140,230
269,304
Estimated Available Funds
167,871
25,036
1.81,661
249,132
373,230
506,304,
799,475
Intrafund Transfers
0
83,960
0
0
0
0
0
Interfund loan
0
25,000
.0
0
(150,000)
(150,000)
(150,000)
Adjusted Cash Available
167,871
133,996
181,661
249,132
223,230
356,304
649,475
Less Capital Improvement Program
144,000
107,440
137,000
149,000
83,000
87,000
94,000
Estimated Unrestricted Cash Balance at Year -End
23,871
26,556
441-661
1001132'
140,230
269,304
555,475
-45-
Bath & Tennis Club:
General Administration
Miscellaneous
Transfer From General Fund
Swimming .
Membership Allocation
Swim Fees
Tennis
Tennis Associate Memberships
Membership Allocation
Tem -ds Lessons and Programs
Beverage & Pro Shop Revenue
Polo
Field Rental
Sp ons orship s, Memb uship s, & Admissions
Transfer From General Fund
Open Melds
Field Rental
Transfer From General Fund
Total Bath & Tennis Club
Food & Beverage:
Clubhouse Food & Beverage
Social Memberships
B&T Membership Allocation
Wedding Food Sales
Beverage/Liquor Sales -Weddings
Private Party,Food Sales
Beverage/Liquor Sales -Private Parties
Village of Oak Brook
2006-2010 Five -Year Financial Plan
SPORTS CORE FUND OPERAMONS.
.
Revenue Projections
2005 -Budget
2005 Estimate
2006
2007
2008
2009
2010
$1,000
$3,935
$2,500
$2,500
$2,500
$2,500
$2,500
29,000
29,000
29,000
'29,000
29,000
29,000
29,000
119,550
91,725
114,265
125,065
137,035
149,835
163,265
19,600
21,840
21,200
22,260
23,373
24,542
25,769
4,350
3,400
4,175
4,350
4,525
4,700
4,875
59,775
45,865
57,135
62,535
68,515
74,940
81,630
37,800
32,375
-35,800
37,590
39,470
41,443"
43,515
1,300
2,005
1,800
1,890
1,985
2,084
2,188
12,000
8,975
11,100
11,655
12,238
12,850
13,492
11,900
17,030
18,500
19,425
20,396
21,416
22,487
56,000
56,000
-60,700
60,700.
60,700
60,700
60,700
29,000
32,400
32,500
341125
35,831
37,623
39,504
19,500
19,500 ,
16,600
16,600
16,600
16,600
16,600
$400,775
$364,050
$405,275
$427,695
$452,1.67
$478,232
$505,525
,$2,025
$1,575
$1,950
$2,400
$2,775
$3,150
$3,525
29,700
41,035
.42,150
44,100
46,200
48,450
50,700
154,700
104,000
143,675
179,200
225,700
276,500
331,800
66,300
4.4,600
61,575
76,800
96,700
118,500
142,200
165,000
158,400
176;100
19,200
215,700
237,800
261,600
41,300
52,800
58,700
65,100
71,900
79,300
87,200 .
�r
Member/Civic Event Food Sales
Beverage/Liquor Sales-Member/Civic Events
Food/Beverage Sales -Polo
Catering
Rental Income
Miscellaneous
Transfer From General Fund
Poolside Grill
Food Sales
Beverage/Liquor Sales .
Golf Club Lounge
Food Sales
Beverage/Liquor Sales
Candy/Cigarette Sales
Total Food & Beverage
Golf Club:
Memberships
Golf Fees
Merchandise Sales
Driving Range Fees
Cart Rental Fees
Miscellaneous
Total Golf Club
Total Sports Core Operations
-47-
Village of Oak Brook
?006-2010 Five -Year Financial Plan
SPORTS
CORE FUND OPERATIONS
Re -venue Proj ections
2005 Budget
2005 Estimate
2006
2007
2008
2009
2010
88,000
91,200-
101,900
107,000
112,300
117,900
123,800
22,000
17,400
19,400
20,400
21,400
22,500
23,600
14,000
13,505
14,500
15,225
. 15,9 86
16,786
17,625
10,000
.4,650
4,750
4,750
4,750
4,750
4,750
25,000
28,000
30,000
30,000
30,000
30,000
30,000
51,500
56,000
56,200
56,200
56,200
56,200
56,200
0
0
30,000
0
0
0
0
35,000
37,250
36,000
37,800
39,690
41,675
43,758
20,000
19,730
20,000
21,000
22,050
23,153
24,310
111,300
112,700
115,000
120,750
126,788
133,127
139,783
170,100
164,000
,166,500
174,825
183,566
192,745
202,382
13,500
13,500
14,500
15,225
15,986
16,786
17,625
$1,019 425
$960,345
$1,092,900
$1,165,975
$1,287,691
$1,419,320
$1,550,858
$319,975
$312,825
$333,025
$344,675
$356,325
$367,975
$379,625
1,059,950
1,000,550
1,088,700
1,117,450
1,146,200
1,174,950
1,203,700
230,000
220,300
225,000
230,000
235,000
240,000
245,000
256,785
245,485
249,525
252,075
252,640
253,220
253,815
328,800
342,000
342,000
342,000
342,000
342,000
342,000
4,700
- 6,140
4,700
4,700
4,700
4,700
4,700
$2,200,210
$2,127,300
$2,242,950
$2,290,900
$2,3361865
$2,382,845
$2,428,840
$3,620,410
$3,451,695
$3,741,125
$3,884,570
$4,076,724
$4,280,396
$4,495,223
-47-
Village of Oah Brook
Five Year Financial Plan
Sports Core Fund Operations
Capital Improvement Program
2005 Budget
2005 Estimate
2006
2007
2008
2009
2010
Bath & Tennis Club:
Pool Painting
36,000
27,750
Pool Fence
20,000
25,000
Pool Cover
10,000
Golf Club:
Paving Cart Paths
5,000
2,360
5,000
5.,000
5,000
Tractors/MDWeIS
21,000
10,395
20,000
58,000
15,000
16 000
Fairway Mowers
34,000
34,140
Green Core Cultivators
28,000
32,795
Greens Roller
14,000
Sand Canveyor
23,000
Btuker Renovation
30,000
HVAC Iraprovements
35,000
Utiltiy Vehicles
44,000
Dump Truck
35,000
"Sundek" on Golf Clubhouse Patio
15,000
Signage on York Road
15,000
Clubhouse Carpeting
15,000
Pro Shop Fixtures & Lighting
20,000
Trap Rake
12,000
Parking La Lighting
30,000
Ball Machine Washer/Dispenser
25,000
Sv,eeper
15,000
Range Picker
15,000
Siad Steer Loader
28,000
Golf Car Ramp Replacement
20;000
Total Capital lmprovementProgram
$144,000
$107,440
$137,000
$149,000
$83,000
$87,000
$94,000
...
AO-
VILLAGE OF OAK BROOK
2006-2010 FIVE-YEAR FIlVANCIAL PLAN
SPORTS CORE FUND
Golf Surcharge Account
DESCRIPTION:
The Golf Surcharge Account is the repository for revenues received from the $1.50 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 future.
OVERVIEW:
Revenue: Revenue is projected based on the $1.50 surcharge applied to 46,500 rounds per year. The intrafund loan of $80,000 that was given
at the end of 2002 in order to fund operating expenses of the Sports Core was repaid during 2005 with proceeds from the sale of surplus real
estate in Westchester Park.
Capital p rovements: Golf Surcharge funds are programmed for 50% of irrigation system debt service, improvements to the 5" and 9'
holes, pond bank stabilization, cart path paving, and dredging of the golf course ponds. An appropriate balance is maintained should it be
needed for course restoration or other appropriate course improvements.
in
Village of OakBroak
2006-2010 Five -'Year Financial Plan
SPORTS CORE FUND -GOLF SURCHARGE ACCOUNT
Siimmarp
2005 Budget 2005 Estimate 2006 2007 2008 2009 2010
Restricted Cash Available, January 1, 2005 5168,203
Estimated Income
$72,750
$72,750
$72,750
$72,750
$72,750 .
$72,750
$72,750
Less Estimated Operating Expenses
Operating Budget
0
0
0
0
0
0
0
Exceptional Charges
53,720
53,720
51,625
52,025
52,310
52,465
0
Estimated Net Operating Income
19,030
19,030
21,125'
-20,725
20,440
20,285
72,750
Add Beginning of Year Cash Balance
168,203
168,203
267,233
58,358
79,083
99,523
24,808
Estimated Available Funds
187,233
187,233
288,358
79,083
99,523
119,808
97,558
Intrafund Loan Repayment
0
80,000
0
0
0
0
0
Adjusted Cash Available
187,233
267,233.
_ 288,358
79,083
99,523
119,808
97,558
Less Capital Improvement Program
100,000
0
230,000
0
0
95,000
60,000
Estimated Restricted Cash Balance at Year -End
587,233
$267,233
$58,358
$79,083
599,523
524,808
537,558
�h ,
-51- '
Village of Oak Brook
2.006-2.010'Five-Year Financial Plan
SPORTS CORE FUND -GOLF SURCHARGE ACCOUNT
Revenne Projections .
Account 2005 Budget 2005 Estimate 2006
2007
2008
2009
.2010
Golf Surchazge $69,750 $69,750 $69,750
$69,750
$69,750
$69,750.
$59,750
Interest 3;000 3,000 3,000
3,000
3,000
3,000
3,000
Total Revenue $72,750 $72,750 $72,750
$72,750
$72,750
$72,750
$72,750
-51- '
2010
$0
60,000
$60,000
$60,000
Village of Oak Brook
2006-2010 Five -Year Financial Plan
SPORTS CORE
FUND -GOLF SURCHARGE ACCOUNT
Long -Range Operating Budget
2005 Budget
2005 Estimate 2006 2007
2008 2009
Exceptional Charges
Irrigation Syste.mDebt Service (509/x)
$53,720
$53,720 $51,625 $52,025
$52,310 $52,465
Capital Improvement Program
Hole #5 & 49 Fairway/Channel
30,000
40,00.0
Pond Bank Stabilization
70,000
170,000
Cart Path Paving
20,000
Pond Dredging
95,000
Hole #9/Driving Range Project
Total
100,000
$0 $230,000 $0
$0 $95,000
Total Budget
$153,720
$53,720 $251,625 $52,025
$52,310 $147,465
2010
$0
60,000
$60,000
$60,000
VIELLAGE OF OAK BROOK
2006-2010 FIVE-YEAR FINANCLAL PLAN
SPORTS CORE FUND
Capital Improvement Account
DESCRIPTION:
The Sports Core Capital Improvement Account was established in anticipation of significant new revenue from the sale of real estate in
Westchester Park and compensation for right-of-way for Oak Brook Road. Its purpose is to segregate those revenues and apply them to a
program of capital improvements on the Sports Core property.
OVERVIEW:
Revenue: The remaining revenue to the Capital Improvement Account consisted of the proceeds of $1,097,315 from the sale of real estate in
Westchester Park that was received during 2005. Compensation for the right -of --way for Oak Brook Road was received in 2001. No other
revenue is expected.
Expenditures: The final proceeds from the sale of real estate in Westchester Park were used for (1) $933,355 was transferred to the General
Corporate Fund in order to -repay temporary financing related to the Golf Club clubhouse expansion, replacement of the pool deck, public
improvements in the Sports Core/Westchester Park Subdivision, and a small portion of the cost of the Bath & Tennis Clubhouse expansion
project; (2) funds totaling $80,000 were transferred to the Golf Surcharge Account in order to repay a loan given at the end of 2002 that was
needed to fund Sports Core operations, and (3) $83,960 was used by Sports Core Operations programs in order to partially fund the 2005
capital improvement program for the Sports Core.
-53-
Restricted Cash Available, January 1, 2005
Estimated Income
Less Estimated Operating Expenses
Operating Budget
Exceptional Charges
Estimated Net Op erating Income
Add Beginning g of Year Cash Balance
Estimated Available Funds
Intrafund Transfers
laterfmd Loan Repayment (General Fund)
Adjusted Cash Available
Less Capital Improvement Program
Estimated Unrestrictcd Cash Balance at Year -End
Village of Oak Brook
2006-2010 Five -Year financial Plan
SPORTS CORE FUND -CAPITAL IMPROVEMENT ACCOUNT
S47minary
2005 Budget 2005 Estimate 2006 2007
10
2008 2009 2010
s0 $1,097,315 $0 $0 $0 $0 $0
0
0
0
0
0
0
0
a
0
0
0
0
0
0
0
1,097,315
0'
0
0
0
0
0
0
0
0
0
0
0
0
1,097,315
0
0
0
0
0
0
163,960
0
0
0
(933,355)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
$0
$0
$0
$0
$0
$0
$0
Village of Oak Brook
2006-2010 Five -Year Financial Plan
SPORTS CORE FUND-CATITA.L MIPROVEMENT ACCOUNT
Revenue Projections
2005 BILdget 2005 Estimate 2006 2007 2008 2009- 2010
Proceeds from Sale of Real Estate $0 $1,097,315
Total Revenue $0 $1,097,315 $0 $0 $0 . $0 $0
VILLAGE OF OAK BROOK
2006-2010 FIVE-YEAR FINANCIAL PLAN.
SELF-INSURANCE FUND
DESCRIPTION:
The Self -Insurance Fund is an internal service farad -used for funding the Village's employee welfare benefit programs, including the self-
insured
elfinsured 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 continuation of a 7.5%
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. In 2004 and 2005, health and dental claims have increased significantly due to several large claims and the overall industry trend
of 10%-15% annual increases. For 2006, claims are projected based on various rates used to set equivalent premiums. For 2007 and beyond,
a claims inflation factor of 5% per year has been used. Other expenses, including reinsurance costs, are also projected to increase 5%
annually, beginning in July 2006.
FUTURE CONSIDERATIONS:
Appropriate sharing of insurance costs will continue to be a major priority in future collective bargaining negotiations.
Unrestricted Cash Available, January 1, 2005
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
lnterfund Loan Repayment
Adjusted Cash Available
Less Capital Improvement Program
Estimated Unrestricted Cash Balance at Year -End
Village of OakBro0k
2006-2010 Five -Year Financial Plan
SELF-INSURANCE FUND
Summary
2005 Budget 2005 Estimate 2006 2007 2008 2009 2010
$82,708
$2,295,600 $2,542,900 $2,845,400 $2,987,300 $3,136,00.0 $3,291,000 $3,455,000
0
0
. 0
, 0
0
0
0
2,236,725
2,328,200
2,753,500
2,799,000
2,998,100
3,211,900
3,439,900
58,875
214,700
91,900
188,300
137,900
79,100
15,100
82,708
82,708
297,408
389,308
577,608
715,508.
794,608
141,583.
297,408
389,308
577,608
715,508
794,608
809,708
D
0
0
0
0
0
0
0
0
0
0
0
0
0
141,583
297,408
389,308"
577,608
715,508
794,608
809,708
0
0
0
0
0
0
0
$141,583
$297,408
$389,305`
$577,608
$715,508
$794,608
$809,708
W57-
Village Contributions
Participant Contributions
Park District Contributions
Retiree Contributions
Cobra Contributions
Interest
Total Revenue
Village of Oak Brook
2006-2010 Five -Year Financial Plan
SELF-INSURANCE FUND
Revenue Projections
2005 Budget
2005 Estimate
2006
2007
2008
2009
2010
$1,562,100
$1,674,900
$1,918,800
$2,015,000
$2,115,000
$2,221,000
$2,332,000
141,500
148,500
172,200.
181,000
190,000
199,000
209,000
242,000
278,900
296,400
311,300
327,000
343,000
360,000
336,000
420,500
444,000
466,000
490,000.
514,000
540,000
10,000
.17,600
10,000
10,000
10,000
10,000
10,000
4,000
2,500
4,000
4,000
4,000
4,000
4,000
$2,295,600.
$2,542,900
$2,845,400
$2,987,300
$3;136,000
$3,291,000
$3,455,000
-59-
Village of Oak Brook
2006-2010 Five -Year Financial Plan
SELF-INSURANCE FUND
Long -Range Operating Budget
2005 Budget
2005 Estimate 2006
2007.
2008
2009
2010
Exceptional Charges
Stop -Loss Premiums
$218,5.00
$231,400 $243,000
$254,700
$267,300
$280,300
$294,000
PPO Premiums
13,375
12,500 13,100
13,800
14,400
15,200
15,900
Life Insurance Premiums
20,950
27,400 36,000
37,100
38,200
39,300
40,500
Health Claims
1,765,000
1,855,000 2,225,000
2;242,000
2,410,000
2,591,000
2,785,000
Dental Claims
156,000
•131,900 161,000
173,000
186,000
200,000
215,000 "
Plan Administration Expense
62,900
70,000 75,400
.78,400
82,200
86,100
89,500
Total ExceptionalCharges
$2,236,725
$2,328,200 $2,753,500
$2,799,000
$2,998,100
$3,211,900
$3,439,900
-59-
VILLAGE OF OAK BROOK
2006-2010 FNE-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, 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 includes significant increases in
the cost of fuel due to elevated oil prices.
Capital Expenditures: Capital expenditures are programmed for equipment enhancements for the operation
Unrestricted Cash Available, January 1, 2005 $74,419
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
lnterfund Loan Repayment
Adjusted Cash Available
Less Capital Improvement Program
Estimated Unrestricted Cash Balance at Year -End
Village of Oak Drook
2006-2010 Five -Year Financial Plan
GARAGE FUND
summary
2005 Budget 2005 Estimate 2006 2007 2008 2009 2010
$486,000
447,045
27,475
11,480
74,419
85,899
0
0
85,899
15,000
$70,899
$487,500 $530,600 $554,600, $579,600 $604,600 $629,600
459,930
490,565
497,808
516.,837
27,475
28,550
29,250
29,950
95
11,485
27,543
32,813
74,419
59,514
40,999
,18,542
74,514
70,999
68,542
51,355
0
0
0
0
0
0
0
0
74,514
70,999
68,542
51,355
15,000
30,000
50,000
5,000
$59,514
$40,999
$78,542
$46,355
-61-
532,994
551,600
30,750
31,550
40,856
46,450
46,355
76,211
87,211
122,662
D
0
a
0
87,211
122,662
11,000
15,000
$76,211
$107,662
Vehicle 0 & M Charges
Interest
Total Revenue
Village of'Oak Brook
2.006-2010 Five -Year Financial Plan
GARAGE FUND
Revenue Projections
2005 Budget
2005 Estimate 2006
2007
2008
2009
2010
$485,000
$485,000 $527,600
$552,600
$577,600
$602,600
$627,600
1,000
2,500 3,000
2,000
2,000
2,000
2,000
$486,00.0
$487,500 $530,600
$554,600
$579,600
$604,600
$629,600
Village of Oak Brook
2006-2010+1ive-Year Financial Plan
GARAGE FUND
Long -Range Operating Budget
Capital Improvement Program
Oil/Hydraulic Tank Replacement 15,000 15,000
Engine Diagnostic System Replacement 30,000
Floor Hoist Upgrade 50,000
Battery Tester/Charger 5,000
Brake Lathe 5,500
Tire Balancer 5,500
Small Hoist 10,000
Mig Welder 5,000
Total Capital Improvement Program $15,000 $15,000 $30,000 $50,000 $5,000 $11,000 $15,000
Total Budget $469,520 $502,405 $549,115 $577,058 $551,787 $574,744 5598,150
. -63-
2005 Budget
2005 Estimate
2006
2007
2008
2009
2010
Personnel
$173,245
$165,130
$182,485
$191,609
$201,190
$211,249
$221,812
Materials and Supplies
149,770
169,950
179,540
174,445
1.80,600
183,321
187,904
Operations and Contractual
124,030
124,850
128,540
131,754
135,047
138,424
141,884
Total Operating Budget
$447,045
$459,930
$490,565
$497,808
$516,837
$532,994
$551,600
Exceptional Charges .
Transfer to Infrastructure Fund
$22,900
$22,900
$23,600
.$24,300
$25,000
$25,800
$26,600
Vehicle Replacement Charge
4,575
4,575
4,950
4,950
4,950
4,950
4,950
Total Exceptional Charges
$27,475
_$27,475
$28,550
$29,250
$29,950.
$30,750
$31,550
Capital Improvement Program
Oil/Hydraulic Tank Replacement 15,000 15,000
Engine Diagnostic System Replacement 30,000
Floor Hoist Upgrade 50,000
Battery Tester/Charger 5,000
Brake Lathe 5,500
Tire Balancer 5,500
Small Hoist 10,000
Mig Welder 5,000
Total Capital Improvement Program $15,000 $15,000 $30,000 $50,000 $5,000 $11,000 $15,000
Total Budget $469,520 $502,405 $549,115 $577,058 $551,787 $574,744 5598,150
. -63-
VILLAGE OF OAK BROOK
2006-2010 FIVE-YEAR FINANCIAL PLAN
EQUIPMENT REPLACEMENT FUND
DESCRIPTION:
This fluid 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 fluid 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. Although he General Corporate Fund contribution for 2005 was reduced by approximately
$163,000, full funding of this program is included for 2006 and each year thereafter.
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.
Unrestricted Cash Available, 7anuary 1, 2005
Estimated Tncome
Less Estimated Operating Expenses
Dperating 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 Brook '
2006-2010 five -Year Financial Plan
EQUIPMENT REPLACEMENT FUND
Summary
2005 Budget 2005 Estimate 2006 2007 2008 2009 2010
$2,453,886
$508,565 $541,015 $757,650 $814,345 $858,243 $884,046 $976,580
0
0
0
0'
0
0
0
0
0
0
0
0
0
0
508,565
541,015
757,650
814,345
858,243
884,046
976,580
2,453,886
2,453,886
2,530,736
2,719,881
2,910,321
2,846,764
3,258,010
2,962,451
2,994,901
3,288,386
3,534,226
3,768,564
3,730,510
4,234,590
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2,962,451
2,994,901
3,288,386
3,534,226
3,768,564
3,730,810
4,234,590
811,310
'464,165
568,505
623,905
921,800
472,800"
1,620,990
=;n
$2,151,141
$2,530,736
$2,719,881
$2,910,321
$2,846,764
$3,258,010
$2,613,600
-65-
Vehicle Replacement 'Charges
Interest
Sales/Insurance Proceeds
Total Revenue
Village of Oak Brook
2006-2010 Five -Year Financial flan
EQUIPMENT REPLACEMENT FUND
Revenue Projections
2005 Budget 2005 Estimate 2006
2007
2008
2009
2010
448,565 448,565 647,650
695,550.
731,830
760,175
836,260
50,000 55,000 100,000
108,795
116,413
113,871
130,320
10,000 37,450 10,600
10,000
10,000
10,000
10,000
-$508,565 $541,015 $757,650
$814,345
$858,243
$884,046
$976,580
-67-
Village of Oak Brook
2006-2010 Five -Year Financial flan
EQUIPMENT REPLACEMENT FUND
Capital Improvement Program
2005 Budget
2005 Estunate 2606 2007,
.2008
2009
2010
General Management VeMcles
s0
$0 $0 s0
$0
$35,000
Engineering Vehicles
0
0 25,000 0
0
= 0
0
Police Vehicles.
203,680
157,530 180,210 206,290
243,200
161,650
293,690
Fire and Inspection Vehicles
246,430
181,430 65,000 33,000
496,000
31,350
1,170,500
Code Enforcement Vehicles
27,000
21,205 0 0
0
0
0
Public Works Vehicles
334,200
104,000 298,295 337,810
182,600
244,800
156,800
Water Vehicles
0
0 0 46,805
0
0
0
Total
$811,310
$464,165 $568,505 $623,905
$921,800
$472,800
$1,620,990
-67-
VILLAGE OF OAK BROOD
2006-2010 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 farads through application of proper actuarial practices and
compliance with statutory requirements. The specific pension benefits are determined by the Illinois General Assembly through the legislative
process.
OVERVIEW:
Revenue. 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 actuarially assumed rate of 7.25% (Police) and 7.5% (Firefighters') over the planning period. Due to
market conditions investment earnings are projected below budget for 2005.
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 future benefits in accordance with
actuarial requirements and applicable law.
Village of Oak Brook
-69-
2006-2010 Five -Year Financial Plan
POLICE PENSION FUND
Summary
2005 Budget
2005 Estimate
2006
2007
2008
2009
2010
Restricted Cash Available, January 1, 2005
$24,157,442
Estimated Income
$2,456,860
31,501,245
$2,512,535
$2,695,021
$2,819,315
52,948,878
$3,082,945
Less Estimated Operating Expenses
Operating Budget
73,985
67,845
74,985
76,932
78,923
80,959
83,040
Ekceptional Charges
1,348,000
1,250,000
1,385,000
1,483,000
1,574,000
1,667,000
1,757,000
Estimated Net Operating Income
1,034,875
183,400
1,052,550
1,135,089
1,166,392
1,200,920
1,242,905
Add Beginning of Year Cash Balance
24,157,442
24,157,442
24,340,842
25,393,392
26;528,481
27;694,873
28,895,792
EstimatedAvailableFunds
25,192,317
24,340,842
25,393,392
26,528,481
27,694,873
28,895,792
30,138,697
Znterfmd Loan
0
0
0
0
0
0
0
Interfund Loan Repayment
0
0
0
0
0
0
0
Adjusted Cash Available
25,192,317
24,340,842
25,393,392
26,528,481
27,694,873
28,895,792
30,138,697
Less Capital Improvement Program
0
0
0
0
0
0
0
Estimated Restricted Cash Balance at Year -End
$25,192,317
$24,340,842
$25,393,392
$26,528,481
$27,694,873
$28,895,792
$30,138,697
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Village Contributions
Employee Contributions
Interest
Total Revenue
_'7f1_
Village of Oak $rook
2006-2010 Five -Year Fluancial Plan
POLZCF, PENSION FUND
Revenue Proi ections
2005 Budget
2005 Estimate 2006
2007
2008
2009
2010
$478,160
$481,245 $521,535.
9548,000
$575,000
$604,000
$634,000
278,700
270,000 291,000
$306,000
$321,000
$337,000
$354,000
1,700,000
750,000 1,700,000
1,841,021
1,923,315
2,007,978
2,094,945
$2,456,860
$1,501,245 $2,512,535
$2,695,021
$2,819,315
$2,948,878
$3,082,945
_'7f1_
Personnel
Materials and Supplies
Operations and Contractual
Total Operating Budget
Exceptional Charges
P ension B enefits
P ension Refunds
Total Exceptianal Charges
Total Budget
2007
Village of Oak Brook
2009
200'6-2010 Five -Year T+inancialPlan
$3,060
POLICE PENSION FUND
$3,400
Long-Razkge Operating )Budget
2005 Budget
2005 Estimate 2006
2,300
$2,800
$1.,250 $2,800
2,300
2,300 2,300
68,885
64,295 69,885
$73,985
$67,845 $74,985
2007
2008
2009
2010
$3,060
$3,200
$3,400
$3,600
2,300
2,300
2,300
2,300
71,632
73,423
75,259
77,140
$76,932
$78,923
$80,959
$83,040 ,
51,343,000
51,250,000
$1,380,000
$1,478,000
$1,569,000
$1,662,000
$1,752,000
5,000
0
5,000
5,000
5,000
5,000
5,040
$1,348,000
$1,250,000
$1,385,000
$1,483,000
$1,574,000
$1,667,000
$1,757,000
$1,421,985
$1;317,845
$1,459,985
$1,559,932
$1,652,923
$1,747,959
$1,840,040.
Restricted Cash Ayailable, January 1, 2005 $19,3 95,277
Estimated Income
Less Estimated' Operating Expenses
Operating Budget
Exceptional Charges
Estimated Net Operating Income
Add Beginning of Year Cash Balance
Estimated Available Funds
lnterfund Loan
Interfund Loan Repayment
Adjusted Cash. Available
Less Capital Improvement Program
Estimated Restricted Cash Balance at Year -Rail
Village of Oak Erook
2006-2010 Five -Year Financialplan
FIREFIGHTERS' PENSION FUND
Sumsn ary
2005 Budget
2005 Estimate 2006
2007
2008
2009
2010.
$2,144,130
$1,545,005 $2,218,865
$2,309,688
$2,417,134
$2;527,634
$2,643,117
69,985
50,240 55,735
57,078
58,455
'59,867
61,313
1,230,000
1,090,000 2,230,000
1,324,000
1,412,000
1,488,000
1,565,000
844,145
404,765 933,130
928,610
946,678
979,768
1,016,804
19,395,277
19,395,277 19,800,042
20,733,172
21,661,782
22,608,460
23,588,228
20,239,422
19,800,042 20,733,172
21,661,782
22,608,460
23,588,228
24,605,031
0
0 0
0
0
0
0
0
0 0
0
0
0
0
20,239,422
19,800,042 20,733,172
21,661,782
22,608,460
23,588,228
24,605,031
0
0 0
0
0
0
0
$20,239,422
119,800,042 120,733,172
521,661,782
$22,608,460
$23,588,228.
$24,605,031
Village of Oak Brook
2006-2010 Five -'Fear Financial Plan
FIREFIGHTERS' PENSION FUND
Revenue Projections .
2005 Budget
2005 Estiivate 2006 2007
2008
2009
2010
Employee Contributions
$216,800
$196,600 $203,000 $2.13,000
$223,800
$235,000
$247,000
Village Contributions
527,330
498,405 515,865 5411700
568,700
597,000
627,000
Interest
1,400,000
850,000 1,500,000 1,554,988
1,624,634
1,695,634
1;769,117
Total Revenue
$2,144,130
$1,545,005 $2,21$,865 12;309,688
$2,417,134
$2,527,634
$2,643,117
-73-
Personnel
A2aterials and Supplies
Operations and Contractual
Total Operating Budget
Exceptional Charges
Pension Benefits
Pension Refunds
Total Exceptional Charges
Total Budget
Village of Oak Brook
.2005-2010 Fii e -Year Financial Plan
FIR FIGHTERS' PENSION FUND
Long -Range OperatingBudget
2005 Budget
2005 Estimate
2006
2007
2008
2009
2010
$2,000
$1,000
2,000
21000
2,000
2,000
2,000
1,350
1,100
1,350
1,384
1,415
1,454
1,490
66,635
45,140
52,385
53,695
55,037
56,413
57,823
$69,985
$50,240
$55,735
$57,078
$58,455
$59,867
$61,313
$1,225,000
$1,090,000
$1,225,000
$1,319,000
$1,407,000
-$1,483,000
$1,560,000
5,000
0
5,000
5,000.
5,000
5,000
5,000'•.
$1,230,000
$1,090,000
$1,230,000
$1,324,000
$1,412,000
$1,488,000
$1,565,000
$1,299,985
$1,140,240
$1,255,735
$1,381,078
$1,470,455
$1,547,867
$1,626,313
-74-
It has been the Village Board's desire that the Five -Year Financial Plan alsoserveto alert fixture Boards and the community to needs that are
anticipated beyond the horizon of the Five -Year Financial Plan, and which could have significant financial implications. Some of those issues
have already been identified in the narratives accompanying each fund. The purpose of this concluding section of the Five -Year Financial
Plan is to bring together certain other identifiable needs and issues into a useful summary. Following is a description of the needs and issues
that have been identified that will, or may, need to be addressed beyond the planning period.
General Corporate Fund: The Village has reached the point where it is extremely difficult to expect general retail sales tax revenue to grow
or to fund essentially all general Village operations as it has in the past. Land devoted to retail development will not increase significantly
except through conversion from other land uses. Internet commerce is having an effect on revenues, especially in business -to -business sales;
which once represented a substantial part of retail activity in Oak Brook. With the implementation of the 0.25% non -home rule sales tax in
2004, the Village was able to shift most public works and engineering programs to the Infrastructure Fund and is able to utilize utility taxes to
help close the revenue gap. From a long range perspective the focus will be on redevelopment of the various commercial areas of the Village
with an emphasis on attracting new sales tax payers.
Staffing initiatives included in previous editions of the Five -Year Financial Plan are not included due to limited revenues. Demand for
Village services, however, continues to increase. It will be necessary to address staffing issues as the financial condition of the Village
improves and demand for service increases.
The major building projects that have taken place over the past several years have addressed the community's significant needs in terms of
facilities. Embellishments and enhancements to Village buildings will be ongoing, and can be addressed adequately in fa ure Financial Plans.
Costs related to repair and maintenance of the old Library building have been identified and are significant.
Another issue that will be with the Village continuously, as it will be with businesses in general, is the ongoing cost of technology. The
investments that have been made over the last several years have been substantial. However, as every business knows, technology
investments are not one-time events. New technology will forever render existing technology obsolete. Staying reasonably current will be
essential just to do business.
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VILLAGE OF OAK BROOK
2006-2010 FIVE-YEAR FINANCIAL PLAN
LONGER RANGE FINANCIAL ISSUES (continued)
Infrastructure Fund: The work accomplished over the last ten years, pursuant to the Roadway Maintenance Plan and the drainage
improvement policy, has enabled the Village to catchup with extensive maintenance and improvement needs. As a result, the Village is
heading into a period during which capital expenditures will be significantly lower than they have been and the Fund has begun to absorb
some operating expenditures. Beyond the horizon of the current Roadway Maintenance Plan, it should be anticipated that capital expenditures
will again increase to, a higher level for some period of time. However, given continued attention to preventive maintenance and adherence to
the Roadway Maintenance Plan schedules and procedures, the amount of reconstruction work required should be significantly less than was
necessary during the 1990's.
Most of the Safety Pathway Improvements recommended by the Safety Pathway Committee (which ceased existence in 2005) have been
scheduled in this Five -Year Financial Plan.
Water Fund: The retail water rate ($2.85 per 1,000 gallons) which was artificially depressed due to the availability of DuPage Water
Commission rebates, revenue .band reserves and revisions in Commission policies, will be increased to $3.25 per 1,000 gallons effective
January 1, 2006. Thereafter, the consumption rate is expected to increase approximately 3.5% per year. The increase in rates is the result of a
comprehensive long-range rate study completed in 2005.
In years beyond 2010, significant outlays for water main replacement, increases in elevated storage tank capacity, and replacement of the
Village's water meter and reading system is expected. Providing funds for these outlays. is a major factor in the water rate increase expected
for 2006. The long-range rate study also highlighted the potential need to significantly expand ground storage capacity depending on the
amount of commercial redevelopment in the Village. It is possible that bonding may be utilized to fund some or all of the ground storage
improvements if it is required.
VILLAGE OF OAK BROOK
2006-2010 FIVE-YEAR FINANCIAL PLAN
LONGER RANGE FINANCIAL ISSUES (continued)
Sports Core Fund: Although the structure of the Bath & Tennis Club pools is currently adequate, major rehabilitation work will be needed
in the next 7 to 10 years. An infrastructure/structural analysis is schedule to be completed in 2006.
Previous editions of the Five -Year Financial Plan included a footnote stating that although the Sports Core capital improvement program does
not include expansion of the golf course through construction of nine additional holes,' it is not the Village Board's intent to, suggest that
expansion of the golf course should never be considered. Further, it has reiterated the Board's intention not to make changes or improvements
to the Sports Core in any manner that would preclude a later decision to expand the golf course. Although no longer footnoted, there has been
no expressed change m this position. A decision by a future Board to expand the golf course would have significant financial implications.
Equipment Replacement Fund: There are many very substantial pieces of equipment scheduled for replacement beyond 2010. The ftmding
of these replacements is being accomplished with user.charges by the Water Fund, General Corporate Fund, and Garage Fund. There will be
times when the cash balance in this fund will be very large. It is important to remember that these funds will be needed in the future to fund
the scheduled replacements.
-77-