2007-2011 Five Year PlanVILLAGE OF OAK BROOK
2007-2011 FIVE-YEAR FINANCIAL PLAN
TABLE OF CONTENTS
SECTION,
PAGE
Introduction
1
General Assumptions
l
Relationship to the.Annual Budget
2
General Corporate Fund
3
Hotel/Motel Tax Fund
17
Motor Fuel Tax Fund
22
Foreign Fire Insurance Tax Fund
26
Infrastructure Fund
30
Promenade Special Tax Allocation Fund
36
Water Fund
40
Sports Core Fund
4'5
Self -Insurance Fund
60
Garage Fund
64
Equipment Replacement Fund
68
Police and Firefighters' Pension Funds
72
VILLAGE OF OAKBROOK
2007-201.1 FIVE-YEAR FINANCIAL 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 thirteen funds that comprise the financial structure of the Village of Oak Brook. 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.
e financial entity. Although the Village's audited financial statements are prepared
Each fund in the V'illage's financial structure is a separat
on an accrual ormodified 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
ether the revenue and expenditure projections and presents a rolling five-year operating
program, if applicable. The summary brings tog
statement, beginning with cash available as of January 1, 2006, as reported in the audited financial statements as of December 31, 2005.
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 2007-2011 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 fluids at rates ranging from 4.5% to 7.5%, depending upon the fund, the type and length of investment.
• Annual growth in sales tax receipts of 3% in 2007-2009,
4% in 2010 and 2011 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.
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VILLAGE OF OAK BROOK
2007-2011 FIVE-YEAR FINANCLA-L PLAN
In Years 2008-201.1, 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 e
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 fund.
RELATIONSHIP TO THE ANNUAL BUDGET
TeiY ears 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 2007, staff has prepared the 2007-2011 Five -Year Plan, 2007 Budget, and 2007 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. Due to this process revision, the first year of the Five -Year Financial Plan
(2007) is based on the actual 2007 Budget amounts.
A new feature in the budget process was implemented for the 2007 Budget whereby the Village Board held a special Committee -of -the -Whole
meeting in October, 2006 and discussed preliminary Budget and Five -Year Financial Plan results for the major operating funds. The purpose
of this meeting was to discuss various budget alternatives and to set priorities for inclusion in the draft Budget and Five -Year Financial Plan.
Based on Board discussion at that meeting, staff was able to finalize this draft Five -Year Financial Plan using the priorities expressed by a
consensus of the Board.
The actual 2007 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 OAK BROOK
2007-2011 FIVE-YEAR FINANCIAL PLAN
GENERAL CORPORATE FUND
DESCEIPTION: ' '
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 funds %(in lieu of property tax levies), transfers to the Garage and Equipment Replacement Funds (through user charges), and loans to
other funds as appropriate.
OVERVIEW:
The financial condition of the Village remains strong as indicated by the ability to maintain a cash reserve in the General Corporate Fund of at
least six months.of operating expenses, well over and above -what other communities maintain in reserve. Operating revenues in the General
Corporate Fund remain sufficient to fund normal operating expenses. That being said, difficulties lie in funding a large number of new capital
projects, projects that have been deferred from prior budgets, and Village Board initiated priorities including Village Beautification and
improvements in the 22nd Street Business Corridor. Another significant financial issue facing the Village heading into this Five -Year
Financial Plan is the Village's obligation to fund. 1/3 of the costs of the 1-88/22'd:Street Bridge Project. The cost of this obligation, which
results from a jurisdictional transfer agreement with MOT in 1998 concerning 22nd Street, is expected to exceed $5 million.
Due to the large number of projects that had to be deferred in order to maintain a six month operating reserve, the significant cost of the
Village's obligation for the I -88122nd Street Bridge project, and costs expected as a result of Village Board initiatives including Village
Beautification and improvements i -n the 22nd Street Business Corridor, the Board discussed several revenue alternatives. Since many of these
unfunded items are related to infrastructure, the consensus of the Board expressed at the October, 2006 meeting is to proceed with placing a
referendum .question on the ballot for the spring of 2007 asking the voters to approve an increase in the Non -Horne Rule Sales Tan of 0.25%.
If a referendum increasing the non -home rule sales tax rate is approved, this would increase the Non -Horne Rule Sales Tan rate imposed by
the Village from 0.25%1 to 0.50% and the total sales tax rate on general merchandise sold in Oak Brook would increase from 7.00% to 7.251/o.
A sales tax rate of 7.25% would still place Oak Brook's rate amongst the lowest in Du Page County as well as lower than most major retail
areas in the metropolitan Chicago area. Due to the referendum requirement, the 2007 Budget and 2007-2011 Five -Year Financial Plan do not
include any assumptions related to an increase in the Non -Home Rule Sales Tax rate. Since the additional sales tax revenue has not been
nd Street Business Corridor as a result of the consulting study that is taking place at the
included, any costs related to improvements in the 22
1 The current 0.25% Non -Home Rule Sales Tax was authorized by referendum in March, 2004 and received approval from 74% of the voters.
VILLAGE OF OAK BROOK
2007-2011 FIVE-YEAR FINANCIAL PLAN
present time have not. .been included. In addition., many capital projects had to be deferred several years beyond what was requested by the
operating departments and several staffing increases have not been included due to revenue limitations.
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 2007, sales tax revenue is projected to be $11,770,000, which is 7.2% over the
2006 Budget amount and 6.3% over the 2006 estimated amount of $11,075,000.
Receipts from the 5% utility tax electric, natural gas, and telecommunications service are expected to end the year $460,000 or 10% below
budget. Most of the decline is due to significantly reduced telecommunications tax receipts; this continues the negative trend the Village has
experienced over the last several,years. For 2007, total revenue from these taxes is projected to decrease slightly from the 2006 estimated
amount based on an increase assumption. of 3% on the electric utility tax and telecommunications tax being more than offset by a 10% decline
in the utility tax on natural gas due to expected declines in natural gas supply costs. In order to fund numerous capital projects deferred to
2008 and to restore fall funding of the equipment replacement charge in 2008 and thereafter, an increase in the telecommunications tax of 1%
(bringing the total rate to 6%) is projected for 2008 and thereafter. Favorable operating results, continued deferral of major capital projects, or
increases in other revenue sources may delay or eliminate the need to raise this tax.
State shared revenues in total are projected to end the year approximately $162,000 over budget due to the improving Illinois economy
(effecting income tax, replacement tax, and use tax receipts) as well as the State falling behind by one monthly payment in 2005 and getting
caught up in 2006. For 2007, receipts are projected using information provided by the Illinois Municipal League and for 2008 and thereafter
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 2007, revenue of $100,000 is expected from
a new proposed initiative to begin a Business Licensing Program. Interest revenue of $475,000 is expected for 2007 based on an interest
assumption of 4.75%. After numerous increases in short-term interest rates by the Federal Reserve in the last several years, it is expected that
rates will remain constant at this level for the duration of the Five -Year Financial Plan. Most other revenue sources are projected to increase
from 0% to 3% per year for the duration of the Five -Year Financial Plan.
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VILLAGE OF OAK BROOK
2007-201.1 FIVE-YEAR FINANCIAL PLAN
Operations.
Legislative and General.Management. A net increase of 0.50 FTE is included for 2007. due to the addition of a full time administrative clerk
position in order to assume most of the duties currently performed by the elected Village Clerk and the elimination of a part time clerk/typist
position. The Village's financial and Sports Core software packages, which were purchased in 1997, are scheduled to be replaced in 2007 and
early 2008. A Village Board contingency of $100,000; which was included in the 2006 Budget, has not been re -budgeted. The budget for
legal services in various budget programs has been increased in 2007 due the cost of several known lawsuits against the Village; for 2008 and
thereafter, the cost of legal services is expected to moderate to a more typical level. The Independence Day Celebration, which was originally
budgeted in the General Fund for 2006 yet funded by the Hotel Tax Fund, has not been re -budgeted for 2007 or thereafter. Should the Board
elect to continue with this activity, outside funding must be found or an adjustment to the budget will be required during 2007. 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. An additional Building Maintenance Employee position, which was originally included in the 2002 Budget but
removed in the 2003 Budget, was requested once again but .could not be accommodated in the 2007 Budget. This position is needed in
recognition of increased demands resulting from the completion of several significant municipal building projects. The 2007 Budget and each
year thereafter continues to fund the building maintenance function with only one full-time employee and outsourcing many of the new
building maintenance functions. Due to limited General Fund resources in 2007, the roof replacement project for the Public Works facility
has once again been deferred to 2008. The Forestry Program budget has been decreased for 2007 and thereafter due to shifting the funding of
the Village Board's beautification initiative to the Hotel Tax Fund. There are no other significant changes projected in the operating budgets
of this department, beyond application of the inflationassumptions.
LibrM. There are no significant changes projected in the operating budgets of this department, beyond application of the inflation
assumptions:
Police. FTE staffing levels in the Police Department are not expected to change; however, two full time positions in Program 635 -
Public Relations/Crime Prevention have been moved to other budget programs and the budget includes replacing several full-time civilian
positions with multiple part-time employees. This change is designed to increase the numbers of hours of service yet be budget neutral due to
savings on payroll benefit costs. There are no other significant changes projected in the operating budgets of this department, beyond
application of the inflation assumptions.
VILLAGE OF OAK BROOK
2007-2011 FIVE-YEAR FINANCIAL PLAN
Fire., There are no significant changes projected in the operating budgets of this department, beyond application of the inflation
assumptions.
Community Development. The 2.007 Budget includes $123,100 for consulting services related to the Comm ercial Corridor
Revitalization Project. The 2007 budget also includes an increase of 1.0 FTE due to adding a second full time building inspector position due
to increased building activity. There are no other significant changes projected in the operating budgets of this department, beyond
application of the inflation assumptions.
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.
• 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.
• 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, full funding of the amount required has been included in the
projections.
• A transfer equal to 20% of the incremental sales tax revenue generated from the Promenade development to the Promenade Special
Tax Allocation Fund.
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 Impr o vem.ents
The replacement of the Public Works Building roof, originally scheduled for 2003, has been. deferred to 2.008. Other significant capital
expenditures reflected in the Plan include continued outlays for maintaining our current technology systems, replacement of our financial
accounting system, screening of HVAC units at various Village buildings, repairs and maintenance of Old Butler School, and improvements
to the east side entrance at the Municipal Complex.
M
VILLAGE OF OAK BROOK
2007-2011 FIVE-YEAR FINANCIAL PLAN
OTHER CONSIDERATIONS:
The General Corporate Fund Summary exhibit indicates that the Village will exceed its six month cash reserve requirement at the end of each
year. .After completion of many of the capital projects that have been deferred over the last several years, beginning in 2009 and thereafter the
operating results of the General Corporate Fund improve significantly. Potential uses mentioned at various times for the positive cash flow
include new Village programs, 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 appears that some of these options may be considered in future Plans.
Village of Oak Brook
2007-2011 Five -Year Financial Plan
GENERAL CORPORATE FUND
Summary
2006 Budget 2006 Estimate 2007
Unrestricted Cash Available, January 1, 2006 $9,663,936
2008
2009 2010 2011
Estimated Income $19,540,615 $19,206,755 $20,217,760 $21,262,036 $21,930,425 $22,691,283 $23,500,642
Less Estimated Operating Expenses
Operating Budget
16,804,800
16,333,950
17,431,255
17,412,370
17,792,981
18,484,963
19,133,540
Exceptional Charges
2,220,320
2,309,065.
2,268,085
2,617,425
2,725,150
2,813,475
2,880,910
Estimated Net Operating Income
515,495
563,740
518,420
1,232,241
1,412,294
1,392,845
1,486,192
Add Beginning of Year Cash Balance
9,663,936
9,663,936
9,463,596
9,293,256
9,468,472
10,016,266
11,031,611
Estimated Available Funds
10,179,431
10,227,676
9,982,016
10,525,497
10,880,766
11,409,111
12,517,803
Interfand loan
0
(75,000)
0
0
0
0
0
Iaterfand loan Repayment
0
0
0
0
0
150,000
150,000
Adjusted Cash Available
10,179,431
10,152,676
9,982,016
10,525,497
10,880,766
11,559,111
12,667,803
Less Capital Improvement Program
967,425
689,080
688,760
1,057,025
864,500
527,500
329,100
Unrestricted Cash Available at Year -End
$9,212,006
$9,463,596
$9,293,256
$9,468,472
$10,016,266
$11,031,611
$12,338,703
6MonthsOperating
$'8,808,983
$8,808,983
$'9,276,088
$9,331,435
$9,540,490
$9,905,78.1
$10,249,970
-8-
Description
General Sales Tax
State lncom.e Tax
Replacement Tax
Yark Township Road. and Bridge Tax
State Income Tax -Use Tax
Charitable Games Tax
Grants
Telecommunications Tax
Telecommunications Tax-Aditional 1%
Utility Tax
Total Intergovernmental
Liquor License
Scavenger Licenses
Taxi Licenses
Tobacco License
Raffle Licenses
Business Licenses
Building Permits
Electrical Permits
Plumbing Permits
Alarm Application Fee
Annual Alarm Permit Fee
Accessory Structure Permits
Village of Oak Brook
2007-2011 Rive -Year Financial Plan
GENERAL CORPORATE FUND
Revenue Projections
2006
.2006
Budget
Estimate
2007
10, 975, 000
11,075,000
11,770, 000
608,000
744,000
727,000
260,000
275,500
284,000
38,000
33,500
33,500
97,000
108,000
111,000
1,000
1,470
1,500
0
20,000
100,000
2,475,000
2_,053,000
2,127,000
0
0
.0
2,085,000
2,047,000
1,944,000
16,53 9,000
16,3 57,470
17,098,000
110,000
115,000
115,000
9,000
9,000
9,000
19,000
20,000
20,000
2,250
2,100
2,100
400
400
400
250,000
0
100,000
240,000
300,000
300,000
150,000
125,000
145,000
22,500
15,000
18,000
11,600
11,200.
11,500
165
165
165
5,000
20,000
20,000
2008 2009 2010 2011 ,
12,380,000
748,000
293,000
33,500
115,000
1,500
5,000
2,190,000
43 8, 000
2,003,000
18,207,000
115,000
9,000
20,000
2,100
400
100,000
300,000
145,000
18,000
11,845
165
20,000
12,825,000
771,000
301,000
33,500
118,000
1,500
5,000
2,257,000
451,400
2,063,000
18,826,400
115,000
9,000
20,000
2,100
400
100,000
300,000
145,000
18,000
12,200
165
20,000
13,340,000
794,000
310,000
33,500
122,000
1,500
5,000
2,324,000
464,800
2,125,000
19,519,800
115,000
9,000
20,000
2,100
400
100,000
300,000
.145,000
18,000
12,566
165
20,000
Village of Oak Brook
2007-2011 Five -Year Financial Plan
GENERAL CORPORATE FUND
Revenue Projections
-J.O-
2006
2006
Description
Budget
Estimate
2007
2008
2009
2010 .
2011
HVAC Permits
125,000.
35,000
75,400
75,000
75,000
75,000
75 000
Demolition Permits
0
0
25,.000
25,000
25,000
25,000
25,000
ApplicationlOccupancp Fees
0
0
50,000
50,000
50,000
50,000
50,000
Miscellaneous Licenses & Permits
40,000
130,000
45,000
45,000
45,000
45,000
45,000
Solicitation Permits
750
750
750
750
750
750
750
Total Licens es and Permits
985,665
783,615
936,915
937,260
937,615
937,981
938,358
Elevator Inspections
62,500
63,650
65,400
67,362
69,383
71,464
73,608
Zoning/Subdivision Appl. Pees
23,000
20,000
20,000
20,000 -
20,000
81,955
20,000
84,413
20,000
86,946
Plan Review Fees
72,000
75,000
77,250
79,568
Ambulance Fees
240,000
270,000
270,000
278,100
286,443
295,036
303,887
Toll Road Fire Service
72,100
66,000
71,000
73,130
75,324
77,584
79,911
Special Services -EMS
. 9,000
10,000
11,000
11,550
12,128
12,734
13,371 .
Special Services -Fire
7,500
7,500
7,500
7,650
7,803
7,959
8,118
False Alarm -Fire
18,00.0
18,000
18,000
18,000
18,000
18,000
18,000
Building & Fire lnpection Fees
160,000
185,000
190,000
190,000
190,000
190,000
190,000
Passport Fees
41000
2,000
2,000
2,000
2,000
2,000
2,000
Fingerprinting
5,000
5,000
5,000
5,000
5,000
5,000
5,000
Special Services -Police
20,000
25,000
25,000
26,250
27,563
28,941
30,388
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
42,000
34,000
.39,000
39,000
39,000
39,000
39,000
Eng. Plan Review & Tnspection
8,000
14,320
10,000
10,000
10,000
10,000
10,000
Subdivision Review & Inspection
5,000
15,680
5,000
5,000
5,000
5,000
5,000
Fire Plan Review Fees
10,000
10,000
1000
10,000
10,000
10,000.
10,000
Librarp Services
16,000
16,000
16,000
16,000
16,000
16,000
16,000
Bad Debt
(2,800)
(2,800)
(2,800)
(2,800)
(2,800)
(2,800)
(2,800)
Total Charges for Services
776,500
839,550
844,550
861,010
877,997
895,531
913,629
-J.O-
Description
Court Fines
Village Fines
Training Reimbursement -Police
Library Fines
Library Caf6 Sales
Library Donations
Interest .
DdF/Franchise Fees
Rental Income
IMF Cy Pres Refund
Road Maintenance Reimbursement
Miscellaneous
Total Other Revenues
Transfer From Water Fund
Transfer From Hotel/Motel Tax Fund
Transfer From Infrastructure Fund
Total Interfund Revenues
Total Revenue
Village of Oak Brook
2007-2011 Fk e -Year Financial Plan
GENERAL CORPORATE FUND
Revenue Projections
2006 2006
Budget
295,000
25,000
10,060
12,000
2,000
28,250
450,000
99,300
58,900
0
10,800
10,000
1,001,250
227,000
11,200
0
23 8, 200
19,540,615
295,000
16,000
2,675
12,200
2,000
25,310
450,000
105,450
47,900
0
11,385
20,000
987,920
227,000
11,200
238,200
19,206,755
304,000
16,000
5,006
12,500
2,000
17,000
475,000
112,000
66,700
57,770
11,725
10,000
1,089,695
237,000
11,600
0
248,600
20,217,760
2008
313,000
20,000
5,000
12,500
2,000
0
441,430
115,360
69,500
12,077
10,000
1,000,866
244,000
11,900
0
255,900
21,262,036
2009
322,000
20,000
5,000
12,500
2,000
0
449,752
118,821
71,600
12,439
10,000
1,024,112
252,000
12,300
0
264,300
21,930,425
0111a
332,000
20,600
5,000
12,506
2,000
0
475,773
122,385
73,900
12,812
10,000
1,066,370
259,000
12,600
0
271,600
22,691,283
342,000
20,600
5,000
12,500
2,000
0
524,002
126,057
76,200
13,197
10,000
1,130,955
267,000
12,900
0
279,900
23,500,642
Village of Oak Brook
2007-2011 Five -Year Financial Plan
GENERAL CORPORATE FUND
Long -Range Operating Budget
-12-
2006 Budget
2006 Estimate
2007
2008
2009
2010
2011
Personnel
$12,687,710
$12,514,380
$13,445,280
$14,117,544
$14,823,421
$15,564,592
$16,342,822
Materials and Supplies
637,390
585,995
619,400
620,843
636,364
652,273
668,579
Operations and Contractual
3,479,700
3,233,575
3,366,575
3,399,499
3,269,669
3,447,990
3,562,298
Total OpezatingBudget
$1.6,804,800
$16,333,950
$17,431,255
$18,137,886
$18,729,454
$19,664,855
$20,573,699
Adjustment for Budget Goal Attainment
$17,431,255
$17,412,370
$17,792,981
$18,484,963
$19,133,540
Exceptional Changes
Police Pension Contribution
$521,535
$543,245
$598,425
$616,400
$634,900
$653,900
$673,1500
Firefighters' Pension Contribution
515,865
582,900
615,595
$634,100
$653,100
$672,700
$692,900
Vehicle Replacement Charges
494;685
494,685
300,000
547,575
583,400
624,225
637,455
Transfer to Sports Core Fund
1361300
136,300
108,600
111,600
114,600
117,600
120,600
Transfer to Infrastructare Fund
177,900
177,900
206,.000
212,000
219,000
225,000
232,000
Tnansfer to Promenade T.I.F. Fund
0
0
61,300
119,150
140,575
143,400
146,200
Installment Contract Debt Service
374,035
374,035
378,165
376,600
379,575
376,650
378,255
Total Exceptional Changes
.$2,220,320
$2,309,065
$2,268,085
$2,617,425
$2,725,150
$2,813,475
$2,880,910
Capital Improvement Program
(See Schedule)
$967,425
$689,080
$688,760
$1,057,025
$864,500
$527,500
$329,100
Total Budget
$19,992,545
$19,332,095
.$20,388,100
$21,086,820
$21,382,631
$21,825,938
$22,343,550,
-12-
10
Village of Oak Brook
2007-2011 five Year Financial
Plan
General Corporate
Fund
Capital Improvement
Program
2006
2006
Budget
Estimate
2007
2008
2009 2010 2011
L e slative_and General Management
I.T. Implementation:
Computer Hardware And Software
184,785
254,785
84,710
235,400
91,500 80,500 87,000
Financial System Upgrade to Windows Based System
157,700
50,000
Telephone System & Equipment Upgrade
225,000
154,195
Mid Volume Copier (Fire)
18,000
11,000
Microfilm Reader/Printer
15,000
0
15,000
Reverse 911 Upgrade (Emergency Management)
10,500
10,500
Low Volume Copier (Village Administration)
8,000
8,000
High Volume Copier (Village Administration)
25,000
Fireproof Cabinets
25,0.00
Engineering and Capital Projects
Municipal Complex:
Undesignated Remodeling
10,000
.1 3,640
10,000
10,000
10,000 10,000 10,000
Roof -top HVAC Screening
30,000
35,140
Ground HVAC Screening/Relocation
75,000
8,000
186,855
VHTW Masonry Sealing
25,000
25,000
Reception Area Floor Improvements
25,000
.25,000
Server Room Auxiliary Cooling System
25,000
25,000
VH Wall Removal by VM Office
20,000
20,000
Galvanized Plumbing Replacement
15,000
9,000
9,000
9,000
VH Ductwork Cleaning
5,000
0
5,000
5,000
FS No. 1 Ductwork Cleaning
5,250
5,250
5,750
6,000
Relocate Electric Service -PD Rall Call Roam
22,860
Interior/Exterior Signage
20,000
Lower Level Washroom Improvements
25,000
East Side Entrance Improvements
125 000 125,000
10
Village of Oak Brook
2007-2011 Five Year Financial Plan
General Corporate Fund
Capital Improvement Program
2006 .2006
Budget Estimate 2007 2008 2009' 2010 2011
Color Aerial Photograph 30,000
Garage Door & Opener Replacements 15,000
Fire Station Humidifier 30,000
Door Security System 50,000
Ceiling Tile & Light Fixture Replacement
Recoat North Walkway
Fire Station #2:
Bathrooms & Bunkroom Remodeling
Exterior Lighting Improvements
South Door Replacement
FS No. 2 Ductwork Cleaning
Landscaping Improvements
Space Needs Study
HVAC System Replacement
Apparatus Bay Heating
Carpeting Replacement
Public Works Building:
Retaining Wall Improvements
PW Replace Rear Entrance Stairway
Replace Leaf Boxes
Roof Replacement & HVAC Screening
PW Office Lighting Fixtures and Ceiling Replacement
PW Kitchenette Remodeling
PW Re -lamp Garage
PW Locker Room Renovation
15,000
6,000
15,000
10,000
15,000
6;000
5,000
6,000
5,500
25,000 50,000
5,000
6,000
5,000
20,000
40,000
25,000
14,OOQ
50,000
5,600
6,500
25,000
6,000
7,000 7,350
294,400
7,500
10,000
7,500
30,000 .
14-
Other Improvements:
Old Butler School
Portable Lift (Buildings & Grrourids)
Library
Shelving
Refurbish Exterior Wood Paneling
Landscaping
HVAC Screening
Lighting Upgrade
Paint HVAC units
Microfilm Reader/Printer
Police
Duty Weapon Replacements
IVAC MDT/Video Systems
Radio System Upgrades
Division Commander Vehicle
Range Equipment Upgrade
Motorcycle Unit Implementation
Mid Volume Copier
Parking Lot Monitors
Village of Oak Brook
2007.2011 Five Year Financial Plan
General Corporate Fund
Capital Improvement Program
2006 2006
Budget Estimate 2007 2008 2009 2010 2011
15,000 800 25,000 130,000 202,000 175,000
8,000
10,250
11,320 17,000
15,000
60,000
45,140
45,140
40,000
26,600 58,000
13,000
13,990
5,000
8,000
37,500 37,500
13,000 12,000
10,000 0 30,000
25,000
33,000
26,000
20,000
Extraction Pulse CO Monitors
Tougbbook Computer
Total General Corporate Fund
5,000
15,000
967,425 689,080 6885760 1,057,025 864,500 527,500 329,100
Village of Oak Brook
2007-2011 Five Year Financial Plan
General Corporate Fund
Capital Improvement Program
2006 2006
Budget Estimate 2007
2008
2009 2010 2011
Fire
Station 2 Lockers
10,000 10,000
EMS Cot Replacement
11,000 11,000.
Turnout Gear Replacement
71,000
Upgrade Village AEDs
22,000
Bunker Clothing
10,000
10,000 10,000.
SCBA Equipment
17,480
Opti.com Equipment
5,000
Auto -Compression CPR
15,000
Replace "Freddie the Fire Truck"
11,000
Breathing Apparatus Upgzade
90,000
Multi Gas Detectors
10,000
Gas Monitor Replacement
10,000
Extraction Pulse CO Monitors
Tougbbook Computer
Total General Corporate Fund
5,000
15,000
967,425 689,080 6885760 1,057,025 864,500 527,500 329,100
VILLAGE OF OAK BROOK
2007-2011 FIVE -'YEAR FINANCIAL PLAN
HOTEUMOTEL TAX FUND
DESCRIPTION:
This farad is the repository for funds collected from imposition of the Village's 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.
For 2006 and prior, most expenditures of funds from the tax were those recommended by the Hotel, Convention and Visitors Committee and
specifically approved by the Village Board. Late in 2006, the Village Board established a Hotel Beautification District designed to improve
and maintain the landscape and hardscape features in the areas served by the hotels also in order to increase overnight stays in hotels located
within the Village. It is expected that Hotel Tax revenues will be utilized to fund these improvements and the associated maintenance.
Cid+I X17+11 �►�.�a
Revenue:
2006 revenues are.projected to be $35,000 or 10.3%. over budget. For 2007, revenues are projected to increase $695,000 over the 2006
Budget amount due to an increase in the tax rate from 1% to 3% in order to fund improvements in the Hotel Beautification District. In future
years, revenue is projected to increase 3% per year.
Operations:
For 2007, the projections reflect expenditures for marketing efforts of the Hotel, Convention and Visitors Committee of $300,000 as well as
payment to the DuPage Convention and Visitors Bureau equal to 20% of the first 1% of the Hotel Tax imposed.. Thereafter, expenditures
increase approximately 3% per year.
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.
1 '7
VILLAGE OF OAK BROOK
2007-2011 FIVE-YEAR FINANCIAL PLAN
Capital Improvement Program
Capital outlays for improvements and maintenance in the Hotel Beautification District are included for each year of the Five -Year Financial
Plan.
FUTURE CONSIDERATIONS:
Should the Village be granted home -rule authority by referendum,.the rate of tax imposed could be increased from the current.3% 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 govermuent
operations.
-� -18-
Village of Oak Brook
2007-2011 Five -Year Financial flan
HOTEL/MOTEL TAX FUND
Summary
2006 Budget
2006 Estimate
2007
2008
2009
2010
2011
Unrestricted Cash Available, January 1, 2006 $235,307
Estimated Income
$345,000
$384,000
$1,047,000
$1,182,794
$1,219,184.
$1,256,667
$1,295,282
Less Estimated Operating Expenses
Operating Budget
453,000
422,000
437,200
390,000
401,700
413,751
426,164
Exceptional Charges
11,200
11,200
11,600
11,900
12,300
12,600
12,900
Estimated Net Operating Income
(119,200)
(49,200)
598,200
780,894
805,184
830,316
856,218
Add Beginning of Year Cash Balance
235,307
235,307
186,107
284,307
315,201
370,385
450,701
Estimated Available Funds
116,107
186,107
784,307
1,065,201
1,120,385
1,200,701
1,306,919
Interfund Loan
0
0
0
0
0
0
0
Interfund Loan Repayment
0
0
0
0
0
0
0
Adjusted Cash Available
116J07
186,107
784,307
1,065,201
1,120,385
1,200,701
1,306,919
Less Capital Improvement Program
0
0
500,000
750,000
750,000
750,000
750,000
Estimated Unrestricted Cash Balance at Year -End
$116,107
$186,107
$284,307
$315,201
$370,385
$450,701
$556,919
-20-
Village of Oak Brook
2007-2011 Five -Year Financial Plan
HOTEL/MOTEL TAX FUND
Revenue Projections
2006 Budget
2006 Estimate 2007 2008
2009
2010
2011
Hotel/MotelTax $340,000
$375,000 $1,035,000 $1,170,000
$1,205,000
$1,240,000
$1,275,000
Interest 5,000
9,000 12,000 12,794
14,184
16,667
20,282
Total Revenue $345,000
$384,000 $1,047,000 $1,182,794
$1,219,184
$1,256,667
$1,295,282
-20-
Operations and Contractual
Total Operating Budget
Exceptional Charges
Transfer to General Fund
Total Exceptional Charges
Capital Improvement Program
Hotel Beautification District Improvements
Total Budget
Village of Oak Brook
2007-2011 Five -Year Financial PIan
HOTEL/MOTEL TAX FUND
Long -Range Operating Budget
2006 Budget
2006 Estimate
2007
2008
2009
2010
2011
$948,800
$1,151,900
$1,164,000
$453,000
$422,000
$437,200
$390,000
$401,700
$413,751
$426,164
$453,000
$422,000
$437,200
$390,000
$401,700
$413,751
$426,164
$11,200
$11,200
$11,600
$11,900
$12,300
$12,600
$12,900
$11,200
$11,200
$11,600
$11,900
$12,300
$12,600
$12,900
0 0
500,000
750,000
750,000
750,000
750,900
$464,200 $433,200
$948,800
$1,151,900
$1,164,000
$1,176,351
$1,189,064
-21-
VILLAGE OF OAK BROOK
2007-2011 FIVE-YEAR FINANCIAL PLAN
MOTOR FUEL TAX FUND
DESCRIPTION:
The Motor Fuel Tax (IV FT) Fund is the repository for funds distributed to the Village by the State of Illinois pursuant to the NET 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.
OVERV EW:
Revenue:
The Motor Fuel Tax is levied on a cents -per -gallon basis and is deposited into a segregated fund at the State level. Froin 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.
Exceptional Charges:
The 2007-2011 Five -Year Financial Plan reflects a transfer in 2007 in order to fund a portion of the 2007 Paving Program. For 2009 and
thereafter it is expected that MFT funds will be utilized to fund debt service on debt that is issued in order to fund part of the Village's
obligation for improvements to the 1-88122"' Street Bridge.
Unrestricted Cash Available, January 1, 2006 $227,397
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
Interfund Loan Repayment
Adjusted Cash Available
Less Capital improvement Program
Estimated Unrestricted Cash Balance at Year -End
Village of Oak Brook
2047-2011 Five -Year Financial Pian
MOTOR FUEL TAX FUND
Summary
2006 Budget 2006 Estimate 2007 2008 2009 2010
2011
$262,000 $269,000 . $264,000 $259,827 $271,519 $271,362 $271,199
0
0
0
0
0
0
0
68,000
30,915
600,000
0
275,000
275,000
275,000
194,000
238,085
(336,000)
259,827
(3,481)
(3,638)
(3,801)
227,397
227,397
465,482
129,482
389,309
385,828
382,190
421,397
465,482
129,482
389,309
385,828
382,190
378,388
0
0
0
0
0
0
0
0
0
0
0
0
0
0
421,397
465,482
129,482;
389,309
385,828
382,190
378,388
0
0
0
0
0
0
0
5421,397
$465,482
5129,482
$389,30.9
$385,828
5382,190
$378,388
-23-
Motor Fuel. Tax Allotm6nts .
Interest
Total Revenue
_74..
Village of Oak Brook
2007.2011 Five -Year Financial plan
MOTOR FUEL TAX FUND
Revenue. Projections
2006 Budget
2006 Estimate 2007
2008
2009
2010
2011
$254,000
$254,000 $254,000
$254,000
$254,000
$254,000
$254,000
8,000
15,000 10,000
5,827
17,519
17,362
17,199
$262,000
$269,000 $264,000
$259,827
$271,519
$271,362
$271,199
_74..
2006 Budget 2006 Estimate 2007
Exceptional Charges
Transfer to Infrastructure Fund $68,000 $30,915 $600,000
Debt Service
Total Exceptional Charges $68,000 $30,915 $600,000
-25-
2009 2010 2011
$0 $0 $0 $o
$275,000 $275,000 $275,000
$0 $275,000 $275,000 $275,000
VILLAGE OF OAK BROOK
2007-2011 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 Fixe .Insurance Tax Board.
OVERVIEW:
Revenue:
Revenue is projected to remain at the estimated level of $37,360 for 2006 and each year thereafter.
Operations:
Operating expendituresare programmed for uses as determined by the Foreign Fire Insurance Tax Board.
-26-
Unrestricted Cash Available, January 1, 2006 $121,725
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
Interfund Loan Repayment
Adjusted Cash Available
Less Capital Improvement Program
Estimated Unrestricted Cash Balance at Year -End
Village of Oak Brook
2007-2011 Five -Year Financial Plan
FOREIGN FIRE INSURANCE TAX FUND
Summary
2006 Budget 2006 Estimate 2007 2008 2009 2010 2011
$46,820 $37,860 1 $37,860 $37,860 $37,860 $37,860 $37,860
54,150
16,165
44,100
18,000
18,000
18,000
18,000
0
0
0
0
0
0
0
(7,330)
21,695
(6,240)
19,860
19,860
19,860
19,860
121,725
121,725
110,420
94,180
94,040
93,900
93,760
114,395
143,420
104,180
114,040
113,900
113,760
113,620
0
0
0
0
0
0
0
0
0,
0
0
0
0
0
114,395
143,420
104,180
114,040
113,900
113,760
113,620
43,000
33,000
10,000
20,000
20,000
20,000
20,000
$71,395
$110,420
$94,180
$94,040
$93,900
$93,7.60
$93,620
-27-
h
Foreign Fire Insurance Tax
Interest
Total Revenue
Village of Oak Brook
2007-201.1. Five -Year Financial Plan
FOREIGN FIRE INSURANCE TAX FUND
Revenue Projections
2006 Budget 2006 Estimate 2007 2008 2009 2010 2011
$46,320. $37,360 $37,360 $37,360 $37,360 $37,360 $37,360
500 500 500 500 500 500 500
$46,820 $37,860 $37,860 $37,860 $37,860 $37;860 $37,860
Personnel
Materials and Supplies
Operation & Contractual
Total Operating Budget
Capital Improvement Program
Station Enhancements
Undesignated Capital
Total Capital Improvement Program
Total Budget
43,000 33,000 10,000
20,000. 20,000 20,000 20,000
$43,000 $33,000 $10,000 $20,000 $20,000 $20,000 $20,000
$97,150 $49,165 $54,100 $38,000 $38,000 $38,000 $38,000
-29-
Village of Oak Brook
2007-2011 Five -Year Financial Plan
FOREIGN FIRE INSURANCE TAX FUND
Long -Range Operating Budget
2006 Budget
2006 Estimate 2007
2008
2009
2010
2011
$15,800
$1,975 $1',975.
$2,000
$2,000
$2,000
$2,000
26,750
13,415 41,350
15,000
15,000
15,000
15,000
11,600
775 775
1,000
1,000
1,000
1,000
$54,150
$16,165 $44,100
$18,000
$18,000
$18,000
$18,000
43,000 33,000 10,000
20,000. 20,000 20,000 20,000
$43,000 $33,000 $10,000 $20,000 $20,000 $20,000 $20,000
$97,150 $49,165 $54,100 $38,000 $38,000 $38,000 $38,000
-29-
VILLAGE OF OAK BROOK
2007-2011 FIVE-YEAR FINANCIAL 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 have been 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.
As mentioned in the narrative regarding General Corporate Fund, during the 2007 Budget and Five Year Financial Plan process the Board has
been faced with financing an obligation in excess of $5 million for its 1/3 share of improvements to the I -88122nd Street. Bridge as well is
potential infrastructure improvements resulting from the 22nd Street Business Corridor study. Neither of these projects was contemplated in
the last Five Year Plan. In order to fund these large obligations as well as other Village initiatives, it is the intention of the Board to seek
referendum approval for an increase.of 0.25% in the non -home rule sales tax. Due to the referendum requirement, assumptions related to this
additional revenue have not been included. The Five Year Plan funds the I -88122nd Street Bridge project using cash on hand, paving program
deferrals, and debt financing. Infrastructure improvements resulting from the 22nd Street Business Corridor study currently do not have a
funding source and have not been included. Should referendum approval be given for the tax increase, the additional revenue will be
deposited in this fund and subsequent Five -Year Plans will be significantly different.
191 -O M1•LI�`,V
Revenue: Receipts from the non -home rule sales tax are projected at $2,691,000 for 2007 and are projected to grow approximately 3% per
year for 2007-2009 and 4% in 2010-2011 (See GENERAL ASSUMPTIONS). Projections also include assumptions related to the new
Promenade Development. Transfers from the. Motor Fuel Tax Fund are reflected in 2007 in order to partially fund the annual paving program.
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. In 2009, bond proceeds of. $2.8 million have been included in order to utilize debt financing to fund a portion of the Village's $5.0
million obligation for improvement to the I -88122nd Street Bridge. It is expected that Motor Fuel Tax Funds will be utilized to fund the debt
service on this obligation.
-30-
VILLAGE OF OAK BROOK
2007-2011 F1YE-YEAR FINANCIAL PLAN
Ot3erations: _
There are no significant changes beyond application of the inflation assumptions.
Capital Imrovements:
Capital projects for streets are scheduled consistent with the 2007-2016 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 22❑d Street and various public works equipment.
Included within the Roadway Improvement Program are outlays totaling $5 million for the Village's 113 share of improvements to the I-
88/22nd Street Bridge. In order to finance this obligation, the Village will use cash on hand to make a $1 million down payment in 2007. In
2008; the Village will defer the paving program in that year and will utilize funds of approximately $1.2 million normally earmarked for this
purpose towards the final payment in 2009. The remaining obligation of approxiin�ately $2.8 million will be financed by issuing debt
obligations sometime in 2009.
-31-
Village of Oak Brook
2007-2011 Five -Year Financial Plan
INFRASTRUCTURE FUND
Summary
2006 Budget 2006 Estimate
Unrestricted Cash Available, January 1, 2006 $1,326,918
2007
2008
2009
2010 2011
Estimated Income $3,109,475 $3,007,585 $3,831,500 $3,521,741 $6,485,346 $3,765,667 $3,921,083
Less Estimated Operating Expenses
Operating Budget
2,050,765
1,882,670
Exceptional Charges
107,340
107,340
Estimated Net Operating Income
951,370
1,017,575
Add Beginning of Year Cash Balance
1,326,918
1,326,918
Estimated Available Funds
2,278,288
2,344,493
Residual Equity Transfer To General Fund
0
0
Adjusted Cash Available
2,278,288
2,344,493
Less Capital Improvement Program
1,716,030
1,050,755
Estimated Unrestricted Cash Balance at Year -End
$562,258
$1,293,738
2,186,105
2,131,729
2,203,996
2,269,664
2,380,396
137,960
147,880
148,325
165,595
181,680
1,507,435
1,242,132
4,133,025
1,330,408
1,359,007
1,293,738
268,513
1,438,645
126,670
667,077
2,801,173
1,510,645
5,571,670
1,457,077
2,026,085
0
0
0
0
0
2,801,173
1,510,645
5,571,670
1,457,077
2,026,085
2,532,660
72,000
5,445,000
790,000
1,398,000
$268,513
$1,438,645
$126,670
$667,077
.$628,085
Village of Oak Brook
2007-2011 Five -Year Financial Plan
INFRASTRUCTURE FUND
Revenue Projections
2006 Budget
2006 Fsti nate 2007.
2008
2009
2010
2011
Non -Home Rule Sales Tax
$2,493,000
$2,525,000 $2,691,000
$2,836,000
$2,940,000
$3,060,000
$3,180,000
Grants
129,975
23,170 112,200
0
0
0
0
Interest
50,000
60,000 25,000
10,741
57,546
5,067
26,683
Transfer From Motor Fuel Tax Fund
68,000
30,915 '600,000
260,000
260,000
260,000
260,000
Transfers From Other Funds
368,500
368,500 403,300
415,000
427;800
440,600
454,400
2,800,000
Bond Proceeds
Total Revenue
53,109,475
$3,007,585 $3,831,500
$3,521,741
$6,485,346
$3,765,667
$3,921,083
Personnel
Materials and Supplies
Operations and Contractual
Capital Outlay (under $5,000)
Total Operating Budget
Adjustment for Budget Goal Attainment
Exceptional Charges
Vehicle Replacement Charges
Transfer to Promenade T.I.F. Fund
Total Exceptional Charges
Capital Improvement Program
(See Schedule)
Total Budget
107,340
Village of Oak Brook
122,660
118,080
113,175
129,795
145,080
2007-2011 Five -Year Financial Pian
0
15,300
29,800
35,150
35,800
INFRASTRUCTURE FUND
107,340
107,340
137,960
147,880
148,325
Long -Range Operating Budget
181,680
2006 Budget
2006 Estimate 2007
2008
2009
2010
2011
$1,465,755
$1,428,555 $1,535,775
$1,611,829
$1,693,155
$1,777,078
$1,866,667
127,710
69,640 138,820
118,572
124,437
122,495
125,598
457,300
384,475 511,510.
490,150
502,404
514,964
567,300
0
0 0
0.
0
0
0
2,050,765
1,882,670 2,186,105
2,220,551
2,319,996
2,414,536
2,559,565
2,186,105
2,131,729
.2,203,996
2,269,664
2,380,396
107,340
107,340
122,660
118,080
113,175
129,795
145,080
0
0
15,300
29,800
35,150
35,800
36,600
107,340
107,340
137,960
147,880
148,325
165,595
181,680
1,716,030
1,050,755
2,532,660
72,000
5,445,000
790,000
1,398,000
$3,874,135
$3,040,765
$4,856,725
$2,351,609
$7,797,321
$3,225,259
$3,960,076
-34-
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 Creek -Yorkshire)
IDOT Butteriield/Midwest Rd Sidewalk
Public Works Capital
Traffic Signal Controllers (Spring/Harger)
Jorie/Kensington Mechanical Turn Signs
Asphalt Paver
Chloride Tank & Pump Replacement
Salt Dome Repairs
New Street Light Heads (l'rinity Lakes)
Traffic Signal Controllers (Jorie/Kensington)
Copier Replacement
Street Lighting.Inspection Survey
Street Light Cable Replacement
Traffic Signal Controllers (Spring/Commerce)
Engineering Department
Print Machine Replacement
GIS Software
Scanner & Plotter
Total
54,930
15,960
Village of Oak Brook
179,000
0
195,000
10,000
2007-2011 Five -Year Financial Plan
39,000
118,000
57,800
37,825
INFRASTRUC'T'URE FUND
1,000
7,705
Capital Improvement Program
13,500
14,000
2006 Budget
2006 Estimate 2007 2008
2009
2010 2011
Roadway Improvements
Street Resurfacing/Reconstruction
$1,138,800
$918,480 $1,041,735 $26,000
$955,000
$685,000 $1,076,000
1 -88122nd Street Bridge Project
0 1,000,000
4,000,000
Street Pavement Rejuvenation/CRF
65,0.00
0 0 0
0
0 0
Street Cracksealing
68,000
30,915 75,000
42,000
69,000 74,000
182 000
57,000
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 Creek -Yorkshire)
IDOT Butteriield/Midwest Rd Sidewalk
Public Works Capital
Traffic Signal Controllers (Spring/Harger)
Jorie/Kensington Mechanical Turn Signs
Asphalt Paver
Chloride Tank & Pump Replacement
Salt Dome Repairs
New Street Light Heads (l'rinity Lakes)
Traffic Signal Controllers (Jorie/Kensington)
Copier Replacement
Street Lighting.Inspection Survey
Street Light Cable Replacement
Traffic Signal Controllers (Spring/Commerce)
Engineering Department
Print Machine Replacement
GIS Software
Scanner & Plotter
Total
54,930
15,960
36,000 36,000
179,000
0
195,000
10,000
0
39,000
118,000
57,800
37,825
5,000
1,000
7,705
500
13,500
14,000
5,500
5,500
27,000
14,395
10,000
10,000
5,200
5,600
7,000
10,000
7,000
10,100
25,000
$1,716,030. $1,050,755
3 6, 000
15,000
215,000
10,000
34,000
$2,532,660 $72,000 $5,445,000
-35-
36,000 36,000
155,000
16,000
$790,000 $1,398,000
VILLAGE OF OAK BROOK
2007-201.1. FIVE-YEAR FINANCIAL PLAN
PROMENDADE SPECIAL TAX ALLOCATION FUND
DESCRIPTION:
The Promenade Special Tax Allocation Fund was established in 2006 as a result of a redevelopment agreement approved by the Village Board
that provides for Tax Increment Financing (T.I.F.) for certain infrastructure improvements for the Promenade `Development. As provided for
in the redevelopment agreement, the Village is expected to issue a limited obligation note of $4.25 million bearing interest at 8%. The note is
secured by 100% of the incremental real estate taxes and 20% of the incremental sales taxes generated by the Promenade Development.. The
note is not a general obligation of the Village and the Village's liability is limited to the pledge of incremental revenues previously noted for a
period not to exceed 15 years.
OVERVIEW:
Revenue
Most of the incremental real estate tax revenue generated by the development is not expected to begin until 2009 due to the timing of the tax
assessment cycle. Transfers from the General Fund and Infrastructure Fund are included based on 20% of the expected General Sales Tax and
Non -Home Rule Sales Tax expected to be generated from the development. The real estate tax and sales tax revenue assumptions are both
based on estimates provided by the developer.
Exceptional Charges
Exceptional charges consist of debt service on the $4.25 million limited obligation note expected to be issued in 2007. The note provides that
in November each year the Village is to notify the holder of the note as to the amount funds on hand that are available to fund debt service for
the subsequent year. Based on the amount available in November each year, debt service payments are to be applied (1) to interest on past due
interest, (2) current interest, and (3) repayment of principal.
Unrestricted Cash Available, January 1, 2006
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
later -fund Loan Repayment
Adjusted Cash Available
Less Capital Improvement Program
Estimated Unrestricted Cash Balance at Year -End
$0
Village of Oak Brook
2007-2011 Five -Year Financial Plan
PROMENADE SPECIAL TAX ALLOCATION (T.I.F.) FUND
Summary
2006 Budget 2006 Estimate 2007 2008 2009 2010 2011
$0 $15,120
0
0
0
0
0
15,120
0
0
0
15,120
0
0
0
0
0
15,120
0
0
$0
$15,120
-37-
$76,900 $190,450 $349,625 $366,800 $370,600
0
0
0
0
0
15,000
76,000
190,000
349,000
367,000
61,900
112,450
159,625
17,800
3,600
15,120
77,020
189,470
349,095
366,895
77,020
189,470
349,095
366,895
370,495
0
0
0
0
0
0
0
0
0
0
77,020
189,470
349,095
366,895
370,495
0
0
0
0
0
$77,020.
$189,470
$349,095
$366,895
$370,495
Real Estate Taxes
Transfer From General Fund
Transfer From Infrastrucure Fund
Interest
Total Revenue
Village of Oak Brook
2007-2011 Five -Year Financial Plan
PROMENADE SPECIAL TAX ALLOCATION (T.I.F.) FUND
Revenue Projections
2006 Budget 2006 Estimate 2007
2008
2009
2010
2011
$0 $14,820 $0
$37,000
$165,000
$177,000
$177,000
0 0 61,300
119,150
140,575
143,400
146,200
0 0 15,300
29,800
35,150
35,800
36,600
0 300 300
4,500
8,900
10,600
10,800
$0 $15,120 $76,900
$190,450
$349,625
$366,800
$370,600
2006 Budget 2006 Estimate 2007 2008 2009 2010 2011
Exceptional Charges .
Debt Service $0 $0 $15,000 $78,000 $190,000 $349,000 $367,000
Total Exceptional Charges $0 $0 $15,000 $78,000 $190,000 $349,000 $367,000
-39-
VI LLAGY OF OAK BROOK
2007-201.1. FIVE-YEAR FINANCIAL 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. `
• I.9 : /I9 Ii
Revenue: Revenue from sale of water for 2007 is based on an average of 1.32 billion gallons billed. 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 enhancements, 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. Due to the expected receipt of $350,000 from the City of Elmhurst from the sale of a small
portion of the water system, it is recommended that the increase for 2007 that was projected in the water rate study be deferred one year. For
2008 through 2011, the water rate is expected to increase between 3%-4% per year, with the revenue amount being adjusted downward in
those years due to the impact of the sale to Elmhurst.
Operations: Based on the results of the settlement regarding issues surrounding the Du Page Water Commission several years ago, the target
rate for water purchased is expected to remain 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 Improvements: The capital improvement program reflects significant 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).
A n..
Village of Oak Brook
2007-2011 Five -Year Financial Plan
WATER FUND
Summary
2006 Budget 2006 Estimate 2007 2008 2009 2010
Unrestricted Cash Available, fanuary 1; 2006 $3,471,896
2011
Estimated Income $5,032,000 $4,584,000 $5,388,020. $5,089,212 $5,273,812 $5,510,174 $5,533,586
Less,Estimated Operating Expenses
Operating Budget
1,180,385
1,199,190
1,225,925
1,267,965
1,254,254
1,284,093
1,356,296
Exceptional Charges
2,628,070
2,447,595
2,635,415
2,602,415
2,615,415
2,628,415
2,646,630
Estimated Net Operating income
1,223,545
937,215
1,526,680
1,218,832
1,404,143
1,597,665
1,530,660
Add Beginning of Year Cash Balance
3,471,896
3,471,896
3,996,456
2,733,776
3,325,358
3,721,101
5,182,766
Estimated Available Funds
4,695,4.41
4,409,111
5,523,136
3,952,608
4,729,501
5,318,766
6,713,426
Less Capital Improvement Program
1,140,050
412,655
2,789,360
627,250
1,008,400
136,000
5,155,000
Estimated Unrestricted Cash Balance at Year -End
$3,555,391
$3,996,456
$2,733,776
$3,325,358
$3,721,101
$5,182,766
$1,558,426
-41-
Water Sales
Unmetered Sales
Connection Fees
Meter Fees
Special Services
Interest
Proceeds from Sale of Elmhurst System
Miscellaneous
Total Revenue
2007.201.1. Five -Year Financial Plan
WATER FUND
Revenue Projections
2006 Budget
2006 Estimate 2007
2008
2009
2010
2011
$4,767,000
$4,250,000 $4,758,300
$4,765,554.
$4,932,348
$5,104,980.
$5,283,654
25,000
27,000 27,000
27,000
27,000
27,000
27,000
50,000
65,000 65,000
65,000
65,000
65,000
65,000
10,000
13,000 13,000
13,000
13,000
13,000
13,000
21,000
24,000 24,720
25,462
26,225
27,012
27,823
110,000
155,000 .100,000
143,197
160,239
223,181
67,109
0
0 350,000
0
0
0
0
49,000
50,000 50,000
50,000
.50,000
50,000
50,000
$5,032,000
$4,584,000 $5,388,020
$5,089,212
$5,273,812
$5,510,174
$5,533,586
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. h&astructure Fund
Vehicle Replacement Charges
Total Exceptional Charges
Capital Improvement Program
(See Schedule)
Total Budget
Village of Oak Brook
2007-2011 Five -Year Financial Plan
WATER FUND
Long -Range Operating Budget
2006 Budget
2006 Estimate
2007
2008
2009
2010
20ll
$643,375
$647,365
$676,625
$710,456
$745,979.
$783,278
$822,442
81,705
78,945
86,420
84,660
88,642
86,143
89,034
455,305
472,880
462,880
512,064
471,894
482,256
531,392
$1,180,385
$1,199,190
$1,225,925
$1,307,181
$1,306,515
$1,351,677
$1,442,869
$1,225,925
$1,267,965
$1,254,254
51,284,093
$1,3561,296
$2,193,395
$2,012,920
$2,178,185
$2,133,185
52,133,185
$2,133,185
52,133,185
227,000
227,000
237,000
244,000
252,000
259,000
267,000
167,000
167,000
173,000
178,000
183,000
189,000
195,000
40,675
40,675
47,230
47,230
47,230
47,230
51,445
$2,628,070
$2,447,595
$2,635,415
$2,602,415
52,615,415
$2,628,415
$2,646,630
$1,140,050
5412,655
$2,789,360
$627,250
$1,008,400
$136,0.00
$5,155,000
$4,948,505
$4,059,440
$6,650,700
$4,497,630
$4,878,069
$4,048,508
$9,157,926
-43-
Distribution Improvements:
Undesignated/Miscellaneous
Midwest Road
Westdale Gardens
Windsor Drive
Butterfield Road
I-88/Rt. 83
1 -88122nd Street
Avenue .Barbizon
I-294 Toll Plaza
Sheffield Lane
Adams/Madison/Glendale
Well Maintenance:
Well 41 (22nd & Spring)
Well #2 (22nd & Rt. 83)
Well 43 (Tower Drive)
Well #5 (Windsor Drive)
Well 46 (31st & Meyers)
Well #7 (Midwest Rd. & I-88)
Storage and Pumps:
Water Meter Replacement
SCADA System Improvements
Water Systerii Security
Elevated Tank Painting
Trenching/Shoring Equipment
Computer Model Upgrade
Reservoir B Inspection
Reservoir B Pump & Motor Replacement
Computer System Upgrade
Reservoir B Building Improvements
New Ground Storage Tank
Total Capital Improvement Program
Village of Oak Brook
200 7-20
11 Five -Year Financial Plan
WAFER FUND
Capital Improvement Program
2006 Budget'
2006 Estimate 2007
2008
2009
2010
2011
10,000
2,700 20,000
15,000
10,000
10,000
10,000
248,500
285,000
38,000
135,000
39,000 1,055,000
32,230
32,225
15,000
232,790 35,000
222,000
340,500
20,000
16,720
183,000
250,000
175,000
69,000
70,000
86,000
10,000
70,000
58,320
42,320 46,660
40,000
40,000
40,000
40,000
42,000
12,000 30,000
30,000
25,000
25,000
440,000
440,000
15,000
8,105 8,200
30,000
26,795 15,000
18,000
56,250
375,000
20,000
40,000
54,000
408,400
5,105,000
$1,140,050
$412,655 $2,789,360
$627,250
$1,008,400
$136,000
$5,155,000
VMLAGE OF OAK BROOK
2007-2011 FIVE-YEAR FINANCIAL PLAN
SPORTS CORE FUND
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 2006
(including debt service).Although the operating projections indicate an interfund loan of $75,000 being needed for 2006, 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
a loan amount was not required for 2004 or.2005. 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. During 2006, there was a significant increase in food
and beverage revenues from wedding business. Unfortunately, declines in revenue from most of the recreation areas (primarily golf revenue)
due to the very wet season were greater than the gain in wedding revenue. The poor weather is the major cause for the possible operating
shortfall.
For. 2007 and thereafter, the budget focus will be on continuing the improved operating results at the Bath and Tennis Clubhouse as well as a
return to a more typical.weather year.
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 snaking more favorable operating results possible on an annual basis.
-45-
Cash Available, January 1, 2006
Estimated Income
Less Estimated Operating Expenses
Operathg Budget
Exceptional Charges
Estimated Net Operating Income
Add Beginning of Year Cash Balance
Estimated Available Funds
Interfund Loan
InterRmd Loan Repayment
Adjusted Cash Available
Less Capital Improvement Program
Estimated Cash Balance at Year -End
Village of Oak Brook
2007-2011{h've-Year Financial Plan
SPORTS CORE FUND -CONSOLIDATED
Summary
2006 Budget 2006 Estimate 2007 2008 2009 2010 2011
$333,858
$3,813,875 $3,617,705 $3,901,650 $4,053,154 $4,217,81.8 $4,361,611 $4,509,935
3,441,495
3,428,620
3,526,010
3,615,071
3,717,060
.31822,067
3,930,190
196,150
196,150
195,760
219,820
217,730
110,100
107,100
176,230
(7,065)
179,880
218,262
283,029
429,443
472,645
333,858
333,858
256,003
56,383
172,645
363,674
446,117
510,088
326,793
435,883
274,645
455,674
793,117
918,762
0
75,000
0
0
0
0
0
0
0
0
0
0
(150,000) .
(150,000)
510,088
401,793
435,883
274,645
455,674
643,117
768,762
367,000
145,790
379,500
102,000
92,000
197,,000
172,000
$143,088
$256,003
$56,383
$172,645
$363,674-
$446,117
$596,762
Sports Core Operations
Golf Surcharge
Total
Jl Vlill.] UVl�.., a viai vvtiv v++�+�+_
Revenue Projections
2006 Budget
2006 Estimate 2007
2008
2009
.2010
2011
$3,741,125
$3,545,205 $3,826,900
$3,978,404
$4,143,068
$4,286,861
$4,435,185
72,750
72,500 74,750
74,750
74,750
74,750
74,750
$3,813,875
$3,617,705 $3,901,650
$4,053,154
$4,217,818
$4,361,611
$4,509,935
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 Operations
Golf Surcharge
Total
Total Budget
Village of Oak Brook
2007-2011 Five -Year Financial Plan
SPORTS CORE FUND -CONSOLIDATED
Long -Range Operating Budget
2006 Budget
2006 Estimate
2007
2008
2009
2010
2011
$196,150.
$195,760
$4,.004,645
$3,770,560
$4,101,270
$1,835,265
$1,884,060
$1,920,955
$1,977,351
$2,035,523
$2,095,532
$2,157,444
830,250
843,930
888,485
902,410
926,992
952,249
978,200
775,980
700,630
716,570
735,311
754,545
774,286
794,547
$3,441,495
$3,428,620
$3,526,010
$3,615,071
$3,717,060
$3,822,067
$3,930,190
103,250
103,250
104,060
92,900
92,900
91,700
$196,150
$196,150.
$195,760
137,000
91,790
129,500
230,000
54,000
250,000
$367,000
$145,790
$379,500
$4,.004,645
$3,770,560
$4,101,270
-48-
104,620
104,930
0
0
115,200
112,800
110,100
107,100
$219,820
$217,730
$110,100
$107,100
102,000
92,000
102,000
112,000
0
0
95,000
60,000
$102,000
$92,000
$197,000
$172,000
$3,936,891
$4,026,790
$4,129,167
$4,209,290
VILLAGE OF OAK BROOK
2007-2011 FIVE-YEAR FINANCIAL PLAN
SPORTS CORE FUND
Operations
DESCRIPTION:
The Sports Core Fund Operations presentation combines the operating projections fQr 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 267 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 increase once again in 2009. Other revenues are adjusted consistent with market factors as well as a return to a more typical
weather year.
The total number of Bath and Tennis Club members is based 305 total recreation memberships, which is an increase of 9 memberships over
2006. For the 2007-2011 Five Year Plan, the number of memberships are projected to increase approximately 5% per year, the annual
membership fees are projected to increase $25 in 2007 and thereafter. 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 232 total events for 2007, which is an increase of 13 events over the 2006 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, there was significant improvement in 2006 as the number of weddings increased from 21 to 29. For 2007,
the number of weddings is projected to increase to 32. Thereafter, the number of weddings is projected to increase gradually to 35 in 2011.
For all special event categories there is an inflationary price adjustment contained in the projections.
Operations: The 2007 budget for the Food and Beverage Operations program includes the upgrade of the part-time catering coordinator
position to full-time. There are no other 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
VILLAGE OF OAK BROOK
2007-2011 FTE-YEAR FINANCYAL PLAN
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 hnpzovements: 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.
Unrestricted Cash Available, January 1, 2006 $57,579
Estimated Income
Less Estimated Operating Expenses
Operating Budget
Exceptional Charges
Estimated Net Operating Income
Add Beginning of Year Cash Balance
Estimated Available Funds
Intrafund Transfers
Interfund Loan
Adjusted Cash Available
Less Capital lmpzovementProgram
Estimated Unrestricted Cash Balance at Year -End
Village of Oak Brook
2007-2011 Five -Year Financial Plan
SPORTS CORE FUND OPERATIONS
Summary
2006 Budget 2006 Estimate 2007
2008 2009 .2010 2011
$3,741,125
$3,545,205
$3,826,900
$3,978,404
$4,143,068
$4,286,861
$4,435,185
3,441,495
3,428,620
3,526,010
3,615,071
3,717,060
3,822,067
3,930,190
144,525
144,525
143,730
167,510
165,265
110,100
107,100
155,105
(27,940)
157,160
195,822
260,744
354,693
397,895
57,579
57,579
12,849
40,509
134,331
303,075
405,768
212,684
29,639
170,009
236,331
395,075
657,768
803,663
0
0
0
0
0
0
0
0
75,000
0
0
0
(150,000)
(150,000)
212,684
104,639
170,009
236,331
395,075
507,768
653,663
137,000
91,790
129,500
102,000
92,000
102,000
112,000
75,684
12,849.
40,509
134,331
303,075
405,768
541,663
-51-
Village of Oak Brook
2007-2011 Five -Year Financial Plan
SPORTS CORE FUND OPERATIONS
Revenue Projections
2006 Budget 2006 Estimate 2007 2008
Bath & Tennis Club:
General Administration
Miscellaneous
Transfer From General Fund
Swimming
Membership Allocation
Swim Fees
Tennis
Tennis Associate Memberships
Membership Allocation
Tennis Lessons and Programs
Beverage & Pro Shop Revenue
Polo
Field Rental
Sponsorships, Memberships, & Admissions
Transfer From General Fund
Open Fields
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
2009 2010 2011
$2,500
$2,500
$2,500
$2,500
$2,500
$2,500
$2,500
29,000
29,000
30,000
31,000
32,000
333000
34,000
114,265
100,890
108,400
116,290
124,400
132,800
141,800
213200
22,600
.23,000
24,150
25,358
26,625
27,957
4,175
3,325
3,750
3,925
4,100
4,275
4,450
57,135
50,440
54,200
58,145
62,200
66,400
70,900
35,800
30,595
.31,600
33,180
34,839
36,581
38,410
11800
13000
1,100
1,155
1,213
1,273
1,337
11,100
6,300
7;700
8,085
8,489
8,914
93359
18,500
27,450
27,775
29,164
30,622
32,153
33,761
60,700
60,700
61,900
62,900
63,900
64,900
65,900
32,500
33,360
34,500
36,225
38,036
39,938
41,935
16,600
16,600
16,700
17,700
18,700
19,700
20,700
$405,275
$384,760
$403,125
$424,419
$446,357
$469,060
$493,009
$1,950
$13650
$1,875
$2,250.
$2,625
$3,000
$3,000
42,150
39,150
40,350
41,400
42,450
43,500
443700
143,675
197,900
228,800
254,900
2753500
289,300
.303,700
61,575
84,635
98,000
109,200
118,100
123,900
130,100
176,100
153,400
166,100
184,100
203,500
224,300
246,800
58,700
51,100
55,400
61,400
67,800
74,800
82,300
Member/Civic Event Food Sales
Beverage/Liquor Sales-Member/Civic Events
Food/Beverage -S ales -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
-53-
Village of Oak Brook
2007-2011 Five -Year
Financial Plan
SPORTS CORE FUND
OPERATIONS
Revenue Projections
2006 Budget
2006 Estimate
2007
2008
2009.
2010
2011
1.01,900
79,000
104,300
109,500
115,000
120,700
126,800
19,400
12,900 -
17,000
17,800
18,700
19,700
20,600
14,500
10,505
13,000
13,650
14,333
15,049
15,802
4,750
4,200
4,700
4,935
5,182
5,441
5,713
30,000
25,000
25,000
25,000
25,000
25,000
25,000
56,200
61,900
58,200
56,200
56,200
56,200
56,200
30,000
30,000
0
0
0
0
0
36,000
32,200
35,000
363750
38,588
403517
42,543
20,000
15,000
18,000
18,900
19,845
20,837
21,879
115,000
103,000
115,000
120,750
126,788
133,127
139,783
166,500
158,000
166,500
174,825
183,566
192,745
202,382
14,500
13,500
14,500
15,225
15,986
16,786
17,625
$1,092,900
$1,073,040
$1,161,725
$1,246,785
$1,329,162
$1,4043901
$1,484,926
$333,025
$314,725
$336,175
$347,525
$358,875
$370,225
$381,575
1,088,700
957,000
.110683200
1,097,000
1,126,000
1,155,000
1,183,000
225,000
.245,705
248,900
253,900
258,900
263,900
268,900
249,525
239,525
252,075
252,075
252,075
252,075
252,075
342,000
.317,750
343,000
343,000.
358,000
358,000
358,000
4,700
12,700
13,700
13,700
13,700
13,700
13,700
$2,242,950
$2,087,405
$2,262,050
$2,307,200
$2,367,550
$2,412,900
$2,457,250
$3;741,125
$3,545,205
$3,826,900
$3,978,404
$4,143,068
$4,286,861
$4,435,185
-53-
Pbrsonnel
Mateziais and Supplies
Operations and Contractual
Total
Exceptional Charges
lrrigation System Debt Service (50%)
B&T Clubhouse Addition Debt Service
Total
Capital Improvement Program
(See Schedule)
Total Budget
Village of Oak Brook
2007-2011 Five -Year Financial Plan
SPORTS CORE FUND OPERATIONS
Long -Range Operating Budget
2006 Budget
2006 Estimate
2007
2008
2009
2010
2011
91,700
115,200
112,800
$1,835,265
$1,884,060
$1,920,955
$1,977,351
$2,035,523
$2,095,532
$2,157,444
830,250
843,930
888,485
902,410
926,992
952,249
978,200
775,980
700,630
716,570
735,311
754,545
774,286
794,547
$3,441,495
$3,428,620
$3,526,010
$3,615,071
$3,717,060
$3,822,067
$3,930,190
51,625
92,900
$144,525
$137,000
$3,723,020
51,625
52,030
52,310
52,465
0
0
92,900
91,700
115,200
112,800
110,100
107,100
$144,525
$143,730
$167,510
$165,265
$110,100
$107,100
$91,790
$129,500
$102,000
$92,000
$102,000
$112,000
$3,664,935
$3,799,240
$3,884,581
$3,974,325
$4,034,167
$4,149,290
Village of Oak Brook
Five Year Financial Plan
Sports Core Fund Operations
Capital Improvement Program
2006 Budget 2006 Estimate 2007
Bath & Tennis Club:
Pool Fence 25,000 27,830
Pool Cover 10,000
Dive Well Painting
Food And Beverage:
15,000
16,000
Copier Replacement
15,000
Golf Club:
15,000
Tractors/Mowers
20,000
Greens Roller
14,000
10,570
Sand Conveyor
23,000
24,415
Bunker Renovation
30,000
28,975
HVAC huTovements
35,000
Utiltiy Vehicles
Tee Beautification
Mini Loader
Signage on York Road.
Clubhouse Carpeting
Pro Shop Fixtures & Lighting
Parking Lot Lighting
Ball Machine Washer/Dispenser
Sweeper
Range Picker
Skid Steer Loader
Dump Trailer
Golf Car Ramp Replacement
Total Capital Improvement Program
$137,000
$91,790
-55-
15,000
9,500
66,000
16,000
15,000
8,000
2008 2009 2010
23,000
38,000
15,000
16,000
17,000
15,000
10,000
15,000
20,000
$129,500 $102,000
30,000
2011
92,000
25,000
17,000
15,000
30,000
10,000
20,000
$92,000 $102,000 $112,000
V]LLAGE OF OAK BROOK
2007-2011 FIVE-YEAR FINANCIAL 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.
Capital Dgprovements: Golf Surcharge funds are programmed for 50% of irrigation system debt service, improvements to the 5t' and 9t'
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.
Village. of Oak Brook
2007-2011 Five -Year Financial Plan
SPORTS CORE FUND -GOLF SURCH RGE ACCOUNT
Summary
2006 Budget 2006 Estimate 2007 2008 2009 2010 2011
Restricted Cash Available, January 1, 2006 $276,279
-57-
$72,750
$72,500
$74,750
$74,750
$74,750.
$74,750
$74,750
Estimated Income
Less Estimated Operating Expenses
0
� 0
0
0
0
0
0
Operating Budget
51,625
51,625
52,030
52,310
52,465
0
0
Exceptional Charges
Estimated Net Operating Income
21,125
20,875
22,720
22,440
22,285
74,750
74,750
Add Beginning of Year Cash Balance
276,279
276,279
243,154
15,874
38,314
60,599
40,349
Estimated Available Funds
297,404
297,154
265,874
38,314
60,599
135,349
115,099
Intrafund Loan Repayment
0
0
0
0
0
0
0
AdjustedCash Available
297,404
297,154
265,874
38,314
60,599
135,349
115,099
Less Capital Improvement Program.
230,000
54,000
250,000
0
0
95,000
60,000
Estimated Restricted Cash Balance at Year -End
$67,404
$243,154
$15,874
$38,314
$60,599
$40,349
$55,0.99
-57-
Village of Oak Brook
2007-2011 Five -Year Financial Plan
SPORTS CORE FUND -GOLF SURCHARGE ACCOUNT
Revenue Projections
Account 2006 Budget 2006 Estimate 2007 2008
2009
2010
2011
Golf Surcharge $69,750 $64,000 $69,750 $69,750
$69,750
$69,750
$69,750
Interest 3,000 8,500 5,000. 5,000
5,000
5,000
5,000
Total Revenue $72,750. $72,500 $74,750 $74,750
$74,750
$74,750
$74,750
-58-
-59-
Village of Oak Brook
2007-2011 Five -Year Financial Plan
SPORTS CORE FUND -GOLF SURCHARGE ACCOUNT
Long -Range Operating Budget
2006 Budget 2006 Estimate 2007 2008 2009
2010
2011
Exceptional Charges
Irrigation System Debt Service (50%)
$5.1,625 $51,625 $52,030 $52,310 $52,465
$0
$0
Capital Improvement Program
Hole #5 & 49 Fairway/Channel
Hole # 4 &45 Pond Bank Stabilization
210,000 35,000 250,000
Cart Path Paving
20,000 19,000
Pond Dredging
95,000
Hole #9/Dri-ving Range Project
60,000
Total
230,000 $54,000 $250,000 $0 $0
$95,000
$60,000
Total Budget
$281,625 $105,625 $302,030 $52,310 $52,465
$95,000
$6.0,000
-59-
VMLAGE OF OAK BROOK
2007-2011 FIVE-YEAR FINANCIAL PLAN
SELF-INSURANCE FUND
DESCRIPTION:
The Self -Insurance Fund is an internal service fund used for funding the Village's employee welfare benefit programs, including the self-
insured 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: For 2007, claims are projected based on various rates used to set equivalent premiums. For 2008 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 2007.
FUTURE. CONSIDERATIONS:
Appropriate sharing of insurance costs will continue to be a major priority in future collective bargaining negotiations.
-6I-
2006 Budget
2006 Estimate
2007
2008
2009
2010
2011
Unrestricted Cash Available, January 1, 2006 $288,441
Estimated Income
$2,845,400
$2,836,100
$2,979,200
$3,127,200
$3,281,500
$3,445,600
$3,616,900
Less Estimated Operating Expenses
Operating Budget
0
0
0
0
0
0
0
Exceptional Charges
2,753,500
2,682,090
2,955,480
3,007,350
3,208,250
3,440,200
3,691,400
Estimated Net Operating Income
91,900
154,010
23,720
119,850
73,250
5,400
(74,500)
Add Beginning of Year Cash Balance
288,441
288,441
442,451
466,171
586,021
659,271
664,671
Estimated Available Funds
380,341
442,451
466,171
586,021
659,271
664,671
596,171
Interfund Loan
0
0
0
0.
0
0
0
Interfund Loan Repayment
0
0
0
0
0
0
0
Adjusted Cash Available
380,341
442,451
466,171
586,021
659,271
664,671
590,171
Less Capital Improvement Program
0
0
0
0
0
0
0
Estimated Unrestricted Cash Balance at Year -End
$380,341
$442,451
$466,171
$586,021
$659,271
$664,671.
$590,171
-6I-
Village Contributions
Participant Contributions
Park District Contributions
Retiree Contributions
Cobra Contributions
Interest
Total Revenue
-62-
Village of Oak Brook
2007-201.1 Five -Year Financial Plan
SELF-INSURANCE FUND
Revenue Projections
2006 Budget
2006 Estimate 2007
2008
2009
2010
2011
$1,918,800
$1,934,300 $2,035,650
$2,137,400
$2,244,300
$2,356,500
$2,474,300
172,200
172,500 178,350
187,300
196,600
206,500
216,800
296,400
275,000 295,200
310,000.
324,500
341,700
358,800
444,000
428,000 450,000
472,500
496,100
520,900
547,000
10,000
10,000 10,000
10,000
10,000
10,000
10,000
4,000
16,300. 10,000
10,000
10,000
10,000
10,000
$2,845,400
$2,836,100 $2,979,200
$3,127,200
$3,281,500
$3,445,600
$3,616,9.00
-62-
-63-
2006 Budget
2006 Estimate
2007
2008
20.09
2010
2011
Exceptional Charges
Stop -Loss Premiums
$241,200
$207,350
$174,260
$176,000
$184,650
$194,000
$204,000
PPO Premiums
13,100
6,140
0
0 .
0
0
15,900
Life Insurance Premiums
36,000
36,000
37,800
39,000
40,100
41,300
42,500
Health Claims
2,225,000
2,157,000
2,400,000
2,430,000
2,600,000
2,800,000
3,000,000
Dental Claims
161,000
142,000
163,800
176,000
189,000
203,000
219,000
Plan Administration Expens.e
77,200
133,600
179,620
186,350
194,500
201,900
210,000
Total Exceptional Charges
$2,753,500
$2,682,090
$2,955,480
$3,007,350
$3,208,250
$3,440,200
$3,691,400
-63-
VILLAGE OF OAK BROOK
2007-2011 FIVE-YEAR F]NANCUL PLAN
GARAGE FUND
DESCRIPTION:
This fiord 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, most 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 fael due to elevated oil prices.
Capital Expenditures: Capital expenditures are programmed for equipment enhancements for the operation.
-65-
2006 Budget
2006 Estimate
.2007
2008
2009
2010
2011
Unrestricted Cash Available, January 1, 2006
$61,710
Estimated Income
$530,600
$530,100
$555,100
$579,600
$604,600
$629,600
$654,600
Less Estimated Operating Expenses
Operating Budget
490,565
520,570
499,420
518,469
536,599
555,442
575,027
Exceptional Charges
28,550
28,550
29,250
29,950
30,750
31,550
32,350
Estimated Net Operating Income
11,485
(19,020)
26,430
31,182
37,251
42,608
47,223
Add Beginning of Year Cash Balance
61,710
61,710
33,320
9,750
35,932
62,182
89,790
Estimated Available Funds
73,195
42,690
59,750
40,932
73,182
104,790
137,013
Interfund Loan
0
0
0
0
0
0,
0
Interfund Loan Repayment
0
0
0
0
0
0
0
Adjusted Cash Available
73,195
42,690
59,750
40,932
73,182
104,790
137,013
Less Capital Improvement Program
30,000
9,370
50,000
5,000
11,000
15,000
25,000
Estimated Unrestricted Cash Balance at Year -End
$43,195
$33,320
$9,750
$35,932
$62,182
$89,790
$112,013
-65-
Vehicle O & M Charges
Interest
Total Revenue
Village of Oak Brook
2007-2011 Five -Year Financial Plan
GARAGE FUND
Revenue Projections
2006 Budget
2006 Estimate 2007
2008
2009
2010
2011
$527,600
$52700 $552,600
$577,600
$602,600
$627,600
$652,600
3,000
2,500 2,500
2,000
2,000
2,000
2,000
$530,600
$530,100 $555,100
$579,600
$604,600
$629,600.
$654,600
Personnel
Materials and Supplies
Operations and Contractual
Total Operating Budget
Exceptional Charges
Transfer to Infrastructure Fund
Vehicle Replacement Charge
Total Exceptional Charges
Capital Improvement Program
Engine Diagnostic System Replacement
Floor Hoist Upgrade
Battery Tester/Charger
Brake bathe
Tire Balancer
Small Hoist
Mig Welder .
Intermediate Hoist
Total Capital Improvement Program
Total Budget
Village of Oak Brook
2007-2011 Five -Year Financial PIan
GARAGE FUND
Long -Range Operating Budget
2006 Budget
2006 Estimate
2007
2008
2009
2010
2011
4,950
$182,485
$166,835
$195,320
$206,766
$217,104
$227,960
$239,357
179,540
214,460
186,975
191,649
196,441
201,352
206,385
128,540
139,275
117,125
120,053
123,054
126,131
129,284
$490,565
$520,570
$499,420
$518,469
$536,599
$555,442
$575,027
$23,600
$23,600
$24,300
$25,000
$25,800
$26,600
$27,400
4,950
4,950
4,950
4,950
4,950
4,950
4,950
$28,550
$28,550
$29,250
$29,950.
$30,750
$31,550
$32,350
30,000
9,370
50,000
s,aoa
5,500
5,500
10,000
5,000
25,000
$30,000
$9,370
$50,000
$5,000
$11,000
$15,000
$25,000
$549,115
$558,490
$578,670
$553,419
$578,349
$601,992
$632,377
-67-
VILLAGE OF OAK BROOK'
2007-2011 FIVE-YEAR FINANCUL PLAN
EQUIPMENT REPLACEMENT FUND
DESCRIPTION:
This fund 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 fund 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%o of the total 5% rate). For 2003 and 2004, the Equipment Replacement
Fund's share of utility tax collections was redirected fo 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. For 2007, the General Corporate Fund contribution has been limited to $300,000 in order to
maintain a six month operating reserve in the General Corporate Fund. This amount is approximately $220,000 below what would. normally
be required and is not expected to materially affect this Fund. For 2008 and thereafter, full. funding of the General Corporate Fud share is
expected.
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.
-68-
Unrestricted Cash Available, January 1, 2006 $2,560,361
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
Interfund Loan Repayment
Adjusted Cash Available
Less Capital Improvement Program
Estimated Unrestricted Cash Balance at Year -End
Village of Oak Brook
2007-2011 Five -Year Financial Plan
EQUIPMENT REPLACEMENT FUND .
.Summary
2006 Budget 2006 Estimate 2007 2008 2009 2010 2011
$757,650 $802,765 $609,840 $886,673 $941,302 $1,031,878 $1,009,474
0
0
0
0
0
0
0
0
0
0
0
0
0
0
757,650
.802,765
609,840
886,673
941,302
1,031,878
1,009,474
2,560,361
2,560,361
3,163,371
2,952,726
2,864,484
3,203,945
2,666,078
3,318,011
3,363,126
3,773,211
3,839,399
3,805,785
4,235,823
3,675,551
0
0
0
0
0
0
0
0
0
0
0
0
0
0
3,318,011
3,363,126
3,773,211
3,839,399
3,805,785
4,235,823
3,675,551
568,505
199,755
820,485
974,915
601,840
1,569,745
375,550
$2,749,506
$3,163,371
$2,952,726
$2,864,484
$3,203,945
$2;666,078
$3,300,001
1021
Vehicle Replacement Charges
Interest
Sales/Insurance Proceeds
Total Revenue
Village of Oak Brook
2047-2011 Five -Year Financial Plan
EQUIPMENT REPLACLMENT FUND
Revenue Projections
2006 Budget 2006 Estimate 2007
2008
2009
2010
2011
647,650 647,650 474,840
743,800
802,400
877,700
879,500
100,000 135,000 125,040
132,873
128,902
144,178
119,974
10,000 20,115 10,000
10,000
10,000
10,000
10,000
$757,650 $802,765 $609,840
$886,673
$941,302
$1,031,878
$1,009,474
_7n_
General Management Vehicles
Engineering Vehicles
Police Vehicles
Fire and inspection Vehicles
Code Enforcement Vehicles
Public Works Vehicles
Water Vehicles
Total
Village of Oak Brook
2007-2011 Five -Year Financial Plan
EQUIPMENT REPLACEMENT FUND
Capital Improvement Program
2006 Budget
2006 Estimate 2007 2008
2009
2010
2011
$o
$0 $0 $0
$35,000
$0
$0
25,000
0 0 25,000
0
0
0
180,210
153,405 163,575 283,030
193,890
232,445
236,570
65,000
0 65,000 496,000
64,350
1,180,500
33,580
0
0 0 0
0
0
0
298,295
46,350 545,105 170,885
308,600
156,800
0
0
0 46,805 0"
0
0
105,400
$568,505
$199,755 $820,485 $974,915
$601,840
$1,569,745_
$375,550
VILLAGE OF OAK BROOK
2007-2011 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_ funds 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 7.50% (Police) and 7.5% (Firefighters') over the planning period.
Operations: . Expense projections in each pension fiend 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.
-73-
2006 Budget
2006 Estimate
2008
2009
2010
2011
Restricted Cash Available, January 1, 2006
$24,756,126
Estimated Income
$2,512,535
$2,532,845
$2,817,225
$2,887,330
$3,007,231
$3,130,287
$3,256,822
Less Estimated Operating Expenses
Operating Budget
74,985
70,170
78,550
80,586
82,668
84,798
86,975
Exceptional Charges
1,385,000
1,350,000
1,505,000
1,615,000
1,710,000
1,805,000
1,895,000
Estimated Net Operating Income
1,052,550
1,112,675
1,233,675
1,191,743
1,214,562
1,240,489
1,274,847
Add Beginning of Year Cash Balance
24,756,126
24,756,126
25,868,801
27,102,476
28,294,219
29,508,782
30,749,271
Estimated Available Funds
25,808,676
25,868,801
27,102,476
28,294,219
29,508,782
30,749,271
32,024,118
Interfund Loan
0
0
0
0
0
0
0
Interfund Loan Repayment
0
0
0
0
0
0
0
Adjusted Cash Available
25,808,676
25,868,801
27,102,476
28,294,219
29,508,782
30,749,271
32,024,118
Less Capital Improvement Program
0
0
0
0
0
0
0
Estimated Restricted Cash Balance at Year -End
$25,808,676
$25,868,801
$27,102,476
$28,294,219
$29,508,782
$30,749,271
$32,024,118
-73-
Village Contributions
Employee Contributions
Interest
Total Revenue
.7A_
Village of Oak Brook
2007-2011 Five -Yeas Financial Plan
POLICE PENSION FUND
Revenue Projections
2006 Budget
2006 Estimate 2007
2008
2009
2010
2011
$521,535
$543,245 $598,425
$616,400
$634,900
$653,900
$673,500
291,000
289,600 318,800
$306,000
$321,000
$337,000
$354,000
1,700,000.
1,700,000 1,900,000
1,964,930
2,051,331
2,139,387
2,229,322
$2,512,535
$2,532,845 $2,817,225 ..
$2,887,330
$3,007,231
$3,130,287
$3,256,822
.7A_
Personnel
Materials and Supplies.
Operations and Contractual
Total Operating Budget
Exceptional Charges
.Pension Benefits
Pension Refunds
Total Exceptional Charges
Total Budget
2011
S i,bUU
2,300
81,075
586,975
$1,380,000
Village of Oak Brook
51,500,000
$1,610,000
$1,705,000
81,800,000
2007-2011 Five -Year Financial Plan
5,000
0
5,000
5,000
POLICE PENSION FUND
5,000
.5,000
51,385,000
$1,350,000
Long -Range Operating Budget
51,615,000
$1,710,000
$1,805,000
2006 Budget
2006 Estimate 2007
2008
2009
2010
$2,800
$1,050 52,800
53,000
53,200
$3,400
2,300
2,300 2,300
2,300
2,300
2,300
69,885
66,820 73,450
75,286
77,168
79,098
$74,985
570,170 $78,550
580,586
$82,668
584,798
2011
S i,bUU
2,300
81,075
586,975
$1,380,000
51,350,000
51,500,000
$1,610,000
$1,705,000
81,800,000
$1,890,000
5,000
0
5,000
5,000
5,000
5,000
.5,000
51,385,000
$1,350,000
$1,505,000
51,615,000
$1,710,000
$1,805,000
$1,895,000
$1,459,985
$1,420,170
$1,583,550
51,695,586
$1,792,668
$1,889,798
51;981,975
-75-
Restricted Cash Available, January 1, 2006 $20,055,492
Estimated Income
Less Estimated Operating Expenses
Operating .Budget
Exceptional Charges
Estimated Net Operating Income
Add Beging of Year Cash Balance
Estimated Available Funds
Interfand Loan
luterfand Loan Repayment
Adjusted Cash Available
Less Capital Improvement Program
Estimated Restricted Cash Balance at Year -End
17r
Village of Oak Brook
2007-2011 Five -Year Financial Plan
RIl2EFIGHTERS' PENSION FUND
Summary
2006 Budget
2006 Estimate .2007
2008
2009
2010
2011
$2,218,865
$2,315,600 $2,436,195
L
52,514,993
$2,621,646
$2,731,565
$2,844,644
55,735
54,815 58,900
60,291
61,717
63,179
64,677
1,230,000
1,150,000 1,305,000
1,430,000
1,505,000
1,590,000
1,665,000
933,130
1,110,785 1,072,295
1,024,702
1,054,928
1,078,386
1,114,967
20,055,492
20,055,492 21,166,277
22,238,572
23,263,274
24,318,202
25,396,588
20,988,622
21,166,277 22,238,572
23,263,274
24,318,202
25,396,588
26,511,555
0
0 0
0
0
0
0
0
0 0
0
0
0
0
20,988,622
21,166,277 22,238,572
23,263,274
24,318,202
25,396,588
26,511,555
0
0 0
0
0
0
0
620,988,622
521,166,277 522,238,572
$23,263,274
524,318,202
525,396,588
526,511,555
17r
-77-
2010 2011
$235,000 $247,000
672,700 692,900
1,823,865 1,904,744
$2,731,565 $2,844,644
2007-201.1. Five -Year Financial Pian
FIREFIGHTERS' PENSION FUND
Revenue Projections
2006 Budget
2006 Estimate 2007. 2008
2009
Employee Contributions
$203,000
$232,700 $245,600 $213,000
$223,800
Village Contributions
515,865
582,900 615,595 634,100
653,100
Interest
1,500,000
1,500;000 1,575,000 1,667,893
1,744,746
Total Revenue
$2,218,865
$2,315,600 $2,436,195 $2,514,493
$2,621,646
-77-
2010 2011
$235,000 $247,000
672,700 692,900
1,823,865 1,904,744
$2,731,565 $2,844,644
Personnel
Materials and Supplies
Operations and Contractual
Total Operating Budget
Exceptional Charges
Pension Benefits
P erasion Refunds
Total Exceptional Charges
Total Budget
Village of Oak Brook
2007-2011 Five -Year Financial Flan
FMFIGHTERS' PENSION FUND
Long -Range Operating Budget
2006 Budget
2006 Estimate
2007
2,000
2,000
2,000
1,350'
1,250
1,250
52,385
51,565
55,650
$55,735
$54,815
$58,900
2008
2009
2010
2011
2,000
2,000
2,000
2,000
1,250
1,250
1,250
1,250
57,041
58,467
59,929
61,427
$60,291
$61,717
$63,179
$64,677
51,225,000
$1,150,000
$1,300,000
$1,425,000
$1,500,.000
$1,585,000
$1,660,000
5,000
0
5,000
5,000
5,000
5,000
5,000
$1,230,000
$1,150,000
$1,305,000
$1,430,000
$1,505,000
$1,590,000
$1,665,000
$1,285,735
$1,204,815
$1,363,900
$1,490,291
$1,566,717
$1,653,179
$1,729,677