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2020-2024 Five Year PlanVILLAGE OF OAK BROOK 2020-2024 Five-Year Financial Plan �Gti OF U A 4r o v c„ G •� .O O C0uNT,4 , Village of Oak Brook, Illinois 1200 Oak Brook Road Oak Brook, Illinois 60523 www.oak-brook.org VILLAGE OF OAK BROOK 2020-2024 FIVE-YEAR FINANCIAL PLAN TABLE OF CONTENTS SECTION PAGE Introduction 3 General Assumptions 3 Relationship to the Annual Budget 4 General Corporate Fund 6 Hotel/Motel Tax Fund 22 Motor Fuel Tax Fund 29 Infrastructure Fund 33 Promenade Special Tax Allocation Fund 40 Water Fund 44 Sports Core Fund 50 Golf Surcharge Fund 61 Self -Insurance Fund 65 Garage Fund 69 Equipment Replacement Fund 74 VILLAGE OF OAK BROOK 2020-2024 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 the financial condition for each of the ten funds that comprise the financial structure of the Village of Oak Brook. The Five -Year Plan assumes the continuation of current service levels and being able to maintain those levels in future years. The forecast provides a foundation for discussion and policy decisions that will be made in the future to maintain the existing service levels and/or enhance service levels in specific areas. Each fund in the Village's financial structure is a separate financial entity. Although the Village's audited financial statements are prepared on an accrual or modified accrual basis (as applicable and consistent with generally accepted accounting principles as promulgated by the Governmental Accounting Standards Board), the Five -Year Financial Plan, like the annual Municipal Budget, is prepared and presented on a cash basis. This results in a more easily understood and more useful document. The presentation for each fund includes a summary, revenue projections, a general long-range operating budget and a capital improvement program, if applicable. The Capital Improvements Program focuses on all vehicles and all capital items that are over $5,000. The summary for each fund reflects the revenue and expenditure projections and presents a rolling five-year operating statement, beginning with cash available as of January 1, 2019 as reported in the audited financial statements as of December 31, 2018. 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 2020-2024 Five - Year Financial Plan is based on the following general assumptions: • Inflation is the measure of the increase in the cost of goods and services. Inflation is measured by the Consumer Price Index and impacts most expenditure categories. For the purpose of this report, inflation for the purchase of goods and services and operational and contractual services are forecasted at 2.5%. • Personnel inflation, (including benefits, training and merit adjustments applicable to personnel not at top -of -grade) are factored at 4.5% per year. Interest earnings on invested funds at rates ranging from less than 0.2% to 2.0%, depending upon the available cash in the fund, the type of investment, and length of investment. VILLAGE OF OAK BROOK 2020-2024 FIVE-YEAR FINANCIAL PLAN Sales tax receipts for 2020 are projected to increase 1.0% from the adjusted 2019 estimated cash collections. Adjustments to future sales tax receipts include new businesses entering and leaving the Village known at the time of creating this document. For each year thereafter the sales tax receipts are projected to increase 1.5%. Receipts from the non -home rule sales tax, are projected using the same assumptions as the growth in general sales tax receipts. Additionally, non -home rule sales tax receipts are reduced by 1.5% in years 2020- 2024 to account for the State of Illinois administrative collection fee. • State income tax receipts have been reduced by 5% in years 2020-2024 to reflect recent changes in the State of Illinois budget. • Motor fuel tax receipts have been increased approximately $120,000 in years 2020-2024 to account for the 19 -cent State gas tax increase as part of the Rebuild Illinois Capital Plan. • All other revenues sources increase from 0.0% to 5.0% annually for the years 2020-2024. In years 2020-2024, the long-range operating budget projections are adjusted by an experience factor intended to take into account normal positive variances in expenditures across the thousands of accounts that make up the Village's financial structure and to partially offset the effects of compounding of the inflation assumptions in the later years. Other assumptions specific to particular funds are described in the narrative preceding the presentation of each fund. RELATIONSHIP TO THE ANNUAL BUDGET For 2020, staff has prepared the 2020-2024 Five -Year Plan, 2020 Budget, and 2020 Program Objectives concurrently. This is done in order to streamline the budget process by reducing the amount of time spent overall by staff and the Village Board on budget -related activities. The 2020 Budget and 2020-2024 Five -Year Plan continues the Village Board directive that staff should prioritize items for inclusion in the 2020 Budget and Five -Year Financial Plan using the following hierarchy: Projects or expenditures necessary to maintain or replace critical equipment, projects already started yet not completed, projects that are the recipient of grant funding, and items required to comply with Illinois and Federal law. Projects or expenditures that will directly contribute to increased revenues from sales tax, utility and telecommunications taxes, and Hotel/Motel taxes. • Projects or expenditures that will significantly increase the efficiency of Village operations. VILLAGE OF OAK BROOK 2020-2024 FIVE-YEAR FINANCIAL PLAN • Projects or expenditures that will significantly improve the safety, convenience, or quality of life for residents, non-residents, and businesses. • Projects or expenditures that will improve the aesthetics of the Village. • Discretionary projects or expenditures that add new services or amenities. The actual 2020 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. VILLAGE OF OAK BROOK 2020-2024 FIVE-YEAR FINANCIAL PLAN GENERAL CORPORATE FUND DESCRIPTION: The General Corporate Fund is the main operating fund of the Village which provides core services for its operations of the major Village departments such as Police, Fire, Library, and many other administrative 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 are all included in the General Fund. OVERVIEW: The Village's budget methodology is to estimate revenues conservatively and to maintain a spending level less than or equal to current year resources. The General Corporate Fund 2020 Budget is operating at a balanced budget where revenues are at or exceed expenditures without using cash reserves. The proposed 2020 General Fund Revenues totals $26.1 million, an increase of $0.8 million, or 3.2%, over the 2019 budgeted revenues. The total General Fund spending in the proposed 2020 Budget is $25.5 million, an increase of $0.3 million, or 1.3%, from the 2019 Budget. The following highlights some of the major budget issues facing the Village for 2020 and beyond: Police and Fire pension legislation requires municipalities to have pension funds 90% funded by the year 2040 rather than being 100% funded. This provides municipalities with some relief; however, additional measures are necessary in order for the Village to meet its future pension obligations. The Village continues to fund its annual obligation; however, over the past 10 years the contribution for police and fire pension plans has increased from $1.8 million in 2009 to $4.0 million in 2018, or 122.2%. Pension contributions were budgeted at $4.1 million in fiscal year 2019 and are budgeted at $4.4 million in 2020. A proposal to consolidate all investment, auditing, and actuary services into two separate statewide pension funds (one for Police and one for Fire) will be sent to the General Assembly for consideration. The Village hopes these changes will have a significant impact on the affordability of its pension plans as we approach 2040. With the departure of McDonald's headquarters in 2018, the Village faced some uncertainty on how future revenues would be impacted. The loss of nearly 3,000 employees, as well as numerous business visitors, faced the Village with the potential for negative impacts on major revenue sources such has sales tax and telecommunications tax. Although the Village lost McDonald's, commercial development has been strong, with the Village gaining numerous developments such as KidZania, Lifetime Fitness, Senior Lifestyle, the Hub Group expansion, the Jupiter Realty condominium project, and the Hines Oak Brook Commons project. A number of other major projects are in the early planning stages and could have an impact on 2020 and beyond. The Village must continue to monitor the changing economic climate and plan future budgets accordingly. VILLAGE OF OAK BROOK 2020-2024 FIVE-YEAR FINANCIAL PLAN A number of items within the State of Illinois 2020 Budget have an impact on Oak Brook. The State's 2020 budget includes a 5% cut in Local Government Distributive Fund (LGDF) disbursements to local governments. The Oak Brook 2020 proposed budget was prepared using the assumption that this reduction will continue into the State's 2020 budget, which begins July 1, 2020. The impact on Oak Brook is projected to be nearly $41,000 in lost revenue to the General Fund. Additionally, the State is charging a 1.5% tax collection fee on locally administered taxes. This is applicable to the Village's Non -Nome Rule Sales Tax that is recorded in the Infrastructure Fund. The impact on Oak Brook is projected to be nearly $85,000 in lost revenue to the Infrastructure Fund. Beginning in 2019, the State increased the gas tax by 19 cents per gallon as part of the Rebuild Illinois Capital Plan. As a result, the Village is projected to receive an additional $120,000 in 2020 as part of the local government allocation of this new tax. The future of health insurance is constantly changing and makes us wonder what future costs will bring. With the passage of the Affordable Care Act (ACA) and subsequent requirements, the village has made many modifications to its plan designs and structure. The uncertainty surrounding required reporting, associated penalties, and the Cadillac tax goes into effect in 2022. The ACA presents the Village a number of challenges in forecasting and budgeting for federally mandated increases in benefits and taxes. The Village continues to prepare to the greatest extent possible by obtaining competitive rates from our broker and carriers as well as tracking our plans to ensure they do not hit the Cadillac tax threshold. We will continue to conservatively budget in order to prepare for unforeseen circumstances related to the on-going implementation of the ACA. • Funding of Capital Improvements at the Sports Core, Village municipal buildings, vehicle replacements, and water main replacements continue to be a challenge to prioritize and address all of the funding needs. Facility studies for various Village properties are in progress or planned over the next few years. The Water Fund has a number of water main replacement projects scheduled in the future. The Village will have to monitor water rates or consider other revenue sources in order to fund these projects on a timely basis. The Village completed a study of its vehicle fleet maintenance and replacement during 2017 and began leasing vehicles in 2019. The Village plans to add more of its vehicle fleet to the lease agreement in the coming years. The Village's 2020 — 2024 Five -Year Financial Plan represents the current conditions and future viability of the Village's finances. The overall objective of this plan is to provide analytical information for key budgetary decisions that will allow the Village to accomplish its goals over the next five-year period and beyond. Revenues: 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 VILLAGE OF OAK BROOK 2020-2024 FIVE-YEAR FINANCIAL PLAN GENERAL ASSUMPTIONS). For 2020, sales tax revenue is projected to be $12.5 million, which is relatively even with the 2019 projected receipts. The 2020 sales tax estimate is up $0.2 million, or 1.4%, from the 2019 budgeted amount. In 2020, receipts from the utility tax on electric, natural gas, and telecommunications service are expected to be $6.1 million, an increase of $0.3 million, or 4.6% compared to the 2019 budget, but $0.1 million, or 1.0%, lower than the projected 2019 amount. Inflationary increases of 1.0% have been assumed in subsequent years 2021 - 2024. The increase is due to a planned reduction in 2019 from the departure of McDonald's that did not occur as projected. The 2020 budgeted revenue was increased to align more closely with 2019 collections. State shared revenues are projected using information provided by the Illinois Municipal League and Illinois Department of Revenue for budget year 2020. State Income Tax is projected to increase $27,000, or 3.6%, compared to the 2019 Budget, but decrease $52,000, or 6.3%, from the 2019 projected revenue. Use tax is projected to increase $47,750, or 23.1%, from the 2019 Budget and increase $3,000, or 1.2%, from the 2019 projected revenue. Replacement Tax is expecting to increase $44,500, or 17.9%, from 2019 Budget and increase $8,650, or 3.0% from the 2019 projected revenue. State shared revenues are projected to increase by 2.0% in years 2021— 2024. The rates imposed for a number of license and fee categories, such as building permits are projected to increase and should positively impact revenues. Investment returns can significantly fluctuate depending on market conditions; therefore, interest revenue is projected at $415,000 for 2020 due to the balance of cash on hand and current interest rates. Most other revenue sources are projected to increase from 0% to 5% per year for the duration of the Five -Year Financial Plan. Expenditures: Legislative and General Management This department involves a wide variety of general -scope functions including the operations of the Village Board and the offices of the Village Clerk, Village Manager, Village Attorney, and Human Resources. • The Legal program includes a decrease of $25,000 for labor attorney fees. The Public Works union contract is the only contract that will expire at the end of 2020, which resulted in a decrease in legal fees. • The Human Resources budget includes a reduction of $15,000 for the tuition reimbursement program for employees seeking an advanced degree. The decrease is due to a decline in recent usage history. The Human Resources budget also includes a reduction of $10,000 for the bonus pool due to a decline in recent history. • The Risk Management program reflects a decrease in liability insurance premiums in 2020. The liability insurance budget has decreased from $293,500 in 2019 to $290,500 in 2020. This is due to the use of an IRMA surplus balance in 2020 to offset annual premium costs and an overall decrease in claims history of late. VILLAGE OF OAK BROOK 2020-2024 FIVE-YEAR FINANCIAL PLAN • The Information Technology budget includes a10% portion of the IT Director's salary and benefits will continue to be allocated to the Geographic Information System program in year 2020. Financial Services This department includes all functions related to the Village's financial management activities. • The Accounting and Reporting program reflects an increase due to the addition of 0.30 FTE due to the reallocation of an Accounting Assistant position. This 0.30 FTE was previously included with Sports Core, but will now be charged to Sports Core through a cost reimbursement. • The Interfund Transfers program includes a cost reimbursement of $139,770 to Infrastructure for administrative costs. This program also includes a transfer of $923,000 to the Sports Core Fund to assist with capital improvements at the Bath and Tennis Club. Public Works This department is in charge of maintenance of the Village's physical infrastructure consisting of buildings, streets, pathways, trees and vehicular equipment. The department also is responsible for operation of the water utility. • The Buildings and Grounds program includes the reallocation of seasonal and maintenance staff hours, resulting in a 0.5 FTE increase. • The Municipal Buildings Improvements budget includes $411,500 in capital improvements budgeted for 2020 to improve and maintain Village facilities. Library This department provides professional, responsive service and promotes the development of independent, self-confident and literate citizens through the provision of open access to cultural, recreational, intellectual and informational resources. The Library General Operations budget includes the increase of 0.65 FTE due to the reorganization of various part-time positions to improve operating efficiencies. The Library Youth Services budget continues the 12 -week part-time Summer Reading Assistant intern position that was introduced in 2019. Police This department provides the community with law enforcement services and preserves and protects lives, property, and constitutional guarantees. VILLAGE OF OAK BROOK 2020-2024 FIVE-YEAR FINANCIAL PLAN • The Police Field Services program includes an increase in full-time salaries of $159,455, or 5.5%, in 2020. The increase is primarily due to the implementation of a new step system in late 2019. This program also includes $35,000 to purchase body cameras, to be funded with accumulated DUI fine money. • The Police Support Services General program includes the addition of an Illinois Statewide Auto Theft Task Force officer. The salary and benefits will be reimbursed in full for the duration of the task force. • Police Support Services Records includes DuComm fees of $491,300, a 2.0% increase from 2019. • Budgeted pension contributions across all Police Department programs increased $236,065 in 2020. Fire This department provides superior professional services in the areas of fire, rescue and emergency medicine dedicated to exceeding the evolving needs of our community. • Fire, Rescue, and EMS Operations includes a $6,245 decrease in full-time salaries, despite a 2.75% wage increase, due to the elimination of one firefighter/paramedic position. There was an increase of $112,500 in budgeted overtime related to new minimum staffing requirements. • The Emergency Medical Services program includes a decrease of $105,960 in contract services due to a reduction of 11 to 9 contracted paramedics. The decrease is due to new minimum staffing requirements of full-time union firefighter/paramedics. • Budgeted pension contributions across all Fire Department programs increased $62,375 in 2020. Department 9 — Development Services This department is responsible for implementing the Village's Comprehensive Plan, zoning regulations, building codes, subdivision regulations, and other Village codes as they relate to the built environment of the community. • The Development Services Management program includes the Director's salary and benefits continue to be split between the Engineering program (40%) and the Development Services program (60%). The Village Planner position continues to have 40% of salary and benefits reimbursed by the Hotel Fund for work done on beautification projects. Exceptional Charges: Exceptional Charges in the General Corporate Fund include: • Contributions to the Police and Firefighters' Pension Funds. These contributions are expected to increase for the duration of the Five -Year Financial Plan. 10 VILLAGE OF OAK BROOK 2020-2024 FIVE-YEAR FINANCIAL PLAN • Vehicle replacement charges are funded in the General Corporate Fund with 100% of funding contributions in years 2020 - 2024 to cover annual lease charges and capital purchases. • An annual reimbursement to the Infrastructure Fund in order to offset costs (primarily administrative) funded by the Infrastructure Fund that relate to General Corporate Fund activities. Capital Improvements: Significant capital expenditures reflected in the Plan include continued outlays for maintaining our current technology systems, Heritage Center improvements, renovations to the Police Department, improvements to Fire Stations 93 and 94, replacement of critical equipment in the fire department, Butler Government Center improvements, and many more. The prioritization of specific projects are reviewed annually during the budget process and included if the General Corporate Fund has sufficient funds. OTHER CONSIDERATIONS: It is the financial policy of the Village Board to make every effort to maintain a six month reserve fund for operating expenses. The six month reserve fund is expected to end 2020 at 10.7 months once all of the budget changes noted here have been fully implemented. Oak Brook's current philosophy is to always try to keep reserves at or above 6 months even in downtimes. During years when we are in unexpected difficult economic times or having a significant unplanned expenditure, this excess fund balance could be used to keep the village at or above the 6 month reserve funding without making drastic cuts in services or personnel to deal with one or two years of financial issues. 11 Unrestricted Cash Available, January 1, 2019 Estimated Income Less Estimated Operating Expenses Operating Budget Exceptional Charges Estimated Net Operating Income Add Beginning of Year Cash Balance Estimated Available Funds Less Capital Improvement Program Unrestricted Cash Available at Year -End 6 Months Operating Expenditures # of Months Reserve Village of Oak Brook 2020-2024 Five -Year Financial Plan General Fund Summary 2019 2019 2020 2021 2022 2023 2024 Budget Estimate Budget Projection Projection Projection Projection $17,932,009 $25,320,945 $26,839,060 $26,128,780 $26,464,897 $26,804,668 $26,775,385 $27,127,184 18,776,305 18,422,065 19,202,980 19,102,549 19,730,272 20,614,773 21,304,288 5,549,520 5,208,675 5,640,840 5,376,573 5,632,513 5,876,976 5,981,136 995,120 3,208,320 1,284,960 1,985,775 1,441,883 283,636 (158,240) 17,932,009 17,932,009 20,165,229 20,762,159 19,951,209 20,244,692 19,810,028 18,927,129 21,140,329 21,450,189 22,747,934 21,393,092 20,528,328 19,651,788 862,475 975,100 688,030 2,796,725 1,148,400 718,300 429,700 $18,064,654 $20,165,229 $20,762,159 $19,951,209 $20,244,692 $19,810,028 $19,222,088 $11,288,858 $11,288,858 $11,601,018 $11,864,770 $12,258,546 $12,809,772 $13,191,881 9.6 10.7 10.7 10.1 9.9 9.3 8.7 12 Village of Oak Brook 2020-2024 Five -Year Financial Plan General Fund Revenue Projections 13 2019 2019 2020 2021 2022 2023 2024 Description Budget Estimate Budget Projection Projection Projection Projection General Sales Tax 12,325,000 12,492,780 12,502,000 12,689,530 12,879,873 13,073,071 13,269,167 State Income Tax 743,000 822,000 770,000 785,400 801,108 817,130 833,473 Replacement Tax 248,000 283,850 292,500 298,350 304,317 310,403 316,611 York Township Road and Bridge Tax 30,000 35,000 35,000 35,000 35,000 35,000 35,000 State Use Tax 206,750 251,500 254,500 259,590 264,782 270,077 275,479 Charitable Games Tax 300 300 300 300 300 300 300 Grants 13,500 13,500 15,400 15,400 15,400 15,400 15,400 Telecommunications Tax/Utility 5,857,500 6,187,500 6,125,000 6,186,250 6,248,113 6,310,594 6,373,700 Total Intergovernmental 19,424,050 20,086,430 19,994,700 20,269,820 20,548,892 20,831,976 21,119,130 Liquor License 185,000 192,000 192,000 192,000 192,000 192,000 192,000 Scavenger Licenses 8,000 8,000 8,000 8,000 8,000 8,000 8,000 Taxi Licenses 15,000 6,000 6,000 61000 6,000 6,000 6,000 Tobacco License 1,200 1,000 1,000 1,000 1,000 1,000 1,000 Raffle Licenses 500 450 350 350 350 350 350 Building Permits 1,800,000 2,725,000 2,500,000 2,500,000 2,500,000 2,125,000 2,125,000 Electrical Permits 70,000 40,000 50,000 50,000 50,000 50,000 50,000 Plumbing Permits 20,000 12,000 15,000 15,000 15,000 15,000 15,000 Alarm Application Fee 37,000 37,000 37,000 37,000 37,000 37,000 37,000 Annual Alarm Permit Fee 100 90 90 90 90 90 90 Accessory Structure Permits 75,000 75,000 75,000 75,000 75,000 75,000 75,000 HVAC Permits 25,000 10,000 15,000 15,000 15,000 15,000 15,000 Demolition Permits 7,500 28,000 10,000 10,000 10,000 10,000 10,000 Application/Occupancy Fees 40,000 25,000 30,000 30,000 30,000 30,000 30,000 Miscellaneous Licenses & Permits 50,000 50,000 50,000 50,000 50,000 50,000 50,000 Solicitation Permits 750 750 750 750 750 750 750 Total Licenses and Permits 2,335,050 3,210,290 2,990,190 2,990,190 2,990,190 2,615,190 2,615,190 Elevator Inspections 115,000 115,000 115,000 115,000 115,000 115,000 115,000 Zoning/Subdivision Appl. Fees 15,000 20,000 15,000 15,000 15,000 15,000 15,000 Plan Review Fees 25,000 23,000 23,000 23,000 23,000 23,000 23,000 Building/inspection Fees 120,000 110,000 115,000 115,000 115,000 115,000 115,000 Ambulance Fees 1,741,000 1,895,820 1,830,000 1,848,300 1,866,783 1,885,451 1,904,305 Toll Road Fire Service 40,000 31,200 32,000 32,000 32,000 32,000 32,000 Special Services -EMS 5,000 4,000 4,000 4,180 4,368 4,565 4,770 13 Village of Oak Brook 2020-2024 Five -Year Financial Plan General Fund Revenue Projections 14 2019 2019 2020 2021 2022 2023 2024 Description Budget Estimate Budget Projection Projection Projection Projection Special Services -Fire 5,000 9,000 7,500 7,838 8,190 8,559 8,944 False Alarm -Fire 3,500 4,750 4,000 4,000 4,000 4,000 4,000 Compliance 5,000 2,500 2,500 2,500 2,500 2,500 2,500 Fingerprinting 2,000 1,500 1,500 1,500 1,500 1,500 1,500 Special Services -Police 140,000 140,000 140,000 146,300 152,884 159,763 166,953 Field Services -Police 100 100 100 100 100 100 100 Misc. Support Services -Police 4,000 8,000 5,500 5,500 5,500 5,500 5,500 False Alarm -Police 23,000 20,000 20,000 20,000 20,000 20,000 20,000 Eng. Plan Review & Inspection 7,500 5,000 5,000 5,000 5,000 5,000 5,000 Fire Plan Review Fees 20,000 20,000 20,000 20,000 20,000 20,000 20,000 Library Services 3,300 3,000 3,000 3,000 3,000 3,000 3,000 Bad Debt (223,000) (300,000) (300,000) (303,000) (306,030) (309,090) (312,181) Ambulance Insurance Unallowable (560,000) (830,500) (790,000) (797,900) (805,879) (813,938) (822,077) Total Charges for Services 1,491,400 1,282,370 1,253,100 1,267,318 1,281,916 1,296,909 1,312,314 Court Fines 120,000 126,400 125,000 128,750 132,613 136,591 140,689 Village Fines 25,000 65,000 50,000 50,000 50,000 50,000. 50,000 DUI Fines 0 0 35,000 0 0 0 0 ISATTF Reimbursement 0 0 176,395 184,333 192,628 201,296 210,354 Administrative Towing Fees 30,000 20,000 20,000 20,000 20,000 20,000 20,000 Administrative Fines 7,500 10,000 10,000 10,500 11,025 11,576 12,155 Library Fines 5,500 7,000 7,000 7,000 7,000 7,000 7,000 Interest 330,000 450,000 415,000 415,000 415,000 415,000 415,000 IMF/Franchise Fees 213,000 211,625 210,000 216,300 222,789 229,473 236,357 Rental income 144,000 194,500 173,500 217,550 224,660 232,005 239,600 Miscellaneous 40,000 20,000 27,500 27,500 27,500 27,500 27,500 Road Maintenance Reimbursement 15,000 15,000 15,000 15,450 15,914 16,391 16,883 Total Other Revenues 930,000 1,119,525 1,264,395 1,292,383 1,319,128 1,346,832 1,375,537 Transfer From Equipment Replacement Fund 508,235 508,235 0 0 0 0 0 Reimbursements From Other Funds 632,210 632,210 626,395 645,187 664,542 684,479 705,013 Total Interfund Revenues 1,140,445 1,140,445 626,395 645,187 664,542 684,479 705,013 Total Revenue 25,320,945 26,839,060 26,128,780 26,464,897 26,804,668 26,775,385 27,127,184 14 Village of Oak Brook 2020-2024 Five -Year Financial Plan General Fund Long -Range Operating Budget Exceptional Charges Police Pension Contribution 2019 2019 2020 2021 2022 2023 2024 Firefighters' Pension Contribution Budget Estimate Budget Projection Projection Projection Projection Personnel $14,086,435 $13,823,755 $14,764,470 $15,527,724 $16,330,798 $17,175,785 $18,064,892 Materials and Supplies 559,780 554,730 539,170 552,649 566,465 580,627 595,143 Operations and Contractual 4,130,090 4,043,580 3,899,340 4,027,574 4,092,388 4,174,198 4,247,802 Total Operating Budget $18,776,305 $18,422,065 $19,202,980 $20,107,947 $20,989,651 $21,930,610 $22,907,837 Adjustment for Budget Goal Attainment $19,202,980 $19,102,549 $19,730,272 $20,614,773 $21,304,288 Exceptional Charges Police Pension Contribution $1,988,740 $2,057,115 $2,224,805 $2,314,555 $2,405,746 $2,524,526 $2,550,259 Firefighters' Pension Contribution 2,108,570 2,150,925 2,170,945 2,312,435 2,381,075 2,480,245 2,531,215 Vehicle Replacement Charges 94,385 94,385 172,320 595,620 687,410 709,475 732,350 Transfer to DuComm Building Reserve 10,000 10,000 10,000 10,000 10,000 10,000 10,000 Reimbursement to Infrastructure Fund 131,100 131,100 139,770 143,963 148,282 152,730 157,312 Transfer to Sports Core Fund 1,216,725 765,150 923,000 0 0 0 0 Total Exceptional Charges $5,549,520 $5,208,675 $5,640,840 $5,376,573 $5,632,513 $5,876,976 $5,981,136 Capital Improvement Program (See Schedule) $862,475 $975,100 $688,030 $2,796,725 $1,148,400 $718,300 $429,700 Total Budget $25,188,300 $24,605,840 $25,531,850 $27,275,847 $26,511,185 $27,210,050 $27,715,125 15 VILLAGE OF OAK BROOK, ILLINOIS Capital and Debt Budgeted Capital Requests Fiscal Year 2020 General Fund Butler Government Center Undesignated Repairs/Safety Projects $ 2019 2019 2020 2021 2022 2023 2024 Total Project Name Budget Projected Budget Projection Projection Projection Projection 2020-2024 Legislative and General Management: 5,000 5,000 20,000 Administration Coffee Bar/Reception Area 15,000 15,000 - - - - Computer Hardware and Software $ 171,400 $ 155,000 $ 100,000 $ 321,415 $ 150,000 $ 150,000 $ 150,000 $ 871,415 Total Program 151 $ 171,400 $ 155,000 $ 100,000 $ 321,415 $ 150,000 $ 150,000 $ 150,000 $ 871,415 Butler Government Center Undesignated Repairs/Safety Projects $ 15,000 $ 15,000 $ 15,000 $ 15,000 $ 15,000 $ 15,000 $ 15,000 $ 75,000 Building Needs Study - 2,400 - - - - - - Interior Painting 5,000 17,000 5,000 5,000 - 5,000 5,000 20,000 Administration Coffee Bar/Reception Area 15,000 15,000 - - - - - - New Office Furniture 4,500 4,500 - 4,500 4,500 4,500 4,500 18,000 Department Mailboxes and Furniture 5,000 - 5,000 - - - 5,000 Board Room Ramp - - - - 20,000 - - 20,000 Board Room Carpet - - - - - 50,000 - 50,000 Board Room Seating and Table Refinish - - - - - 100,000 - 100,000 Board Room Photo - - - - 125,000 - - 125,000 Police Dep. Remodel Roll Call Room - - - - 25,000 - - 25,000 Police Department Sgt. Office/Hallway Tile - - - 25,000 - - 25,000 Police Dep. Upstairs Carpet - - - 63,810 - - - 63,810 Police Dep. Admin. Kitchen Remodel 10,000 10,000 - - - - - - Redesign East Entrance - - - 75,000 - - - 75,000 Development Services Counter Bullet Proofing - - - - 165,000 - - 165,000 BGC Roof - - - 500,000 - - - 500,000 BGC Roof Safety Ladders - - - 30,000 - - - 30,000 BGC A/C Unit #2 - - - - 75,000 - - 75,000 BGC A/C Unit #5 - - - 125,000 - - - 125,000 BGC A/C Unit #7 - - - - - 75,000 - 75,000 16 VILLAGE OF OAK BROOK, ILLINOIS Capital and Debt Budgeted Capital Requests Fiscal Year 2020 General Fund 17 2019 2019 2020 2021 2022 2023 2024 Total Project Name Budget Projected Budget Projection Projection Projection Projection 2020-2024 BGC A/C Unit #8 - - - - - - 75,000 75,000 Server Room A/C Units - - - 85,000 - - - 85,000 Computer Lab A/C Unit - - - 40,000 40,000 Generator Emergency Power Survey 30,000 30,000 - - - BGC Electrical Upgrade/Generator - 19,870 - 500,000 - - - 500,000 West Wing Painting 5,000 5,000 - 5,000 5,000 5,000 5,000 20,000 Galvanized Plumbing Replacement 15,000 15,000 15,000 10,000 10,000 - - 35,000 Village Hall Exterior Beautification 7,500 7,500 - 7,500 7,500 7,500 7,500 30,000 Ductwork Cleaning 10,000 10,000 10,000 10,000 10,000 10,000 10,000 50,000 Electric Door Strikes 15,000 15,000 - 15,000 15,000 15,000 15,000 60,000 Irrigation System - - - 15,000 20,000 20,000 - 55,000 Fire Station 94: Painting 5,000 5,000 5,000 5,000 - 5,000 5,000 20,000 Station 94 Apparatus Floor Patching/Sealing - - - 15,000 - - - 15,000 Station 94 Apparatus Floor Ceiling Fans 5,000 2,500 - - - - - - Kitchen Remodel - - 55,000 55,000 Apparatus Floor Speakers 5,000 - - - - - - - Outdoor Signage - - - - - 7,500 - 7,500 Plymovent Upgrades - - 2,000 2,000 2,000 2,000 2,000 10,000 Furniture 5,000 6,100 - - - - - - Beds 6,000 10,000 - - - - - - Washer and Dryer - 1,800 - - - - - - Fire Station 93: Building Needs Study 30,000 2,025 - - - - - - Pressure Wash Exterior - 17,150 - - - - - - Kitchen Remodel - - 55,000 - - - 55,000 17 VILLAGE OF OAK BROOK, ILLINOIS Capital and Debt Budgeted Capital Requests Fiscal Year 2020 General Fund 18 2019 2019 2020 2021 2022 2023 2024 Total Project Name Budget Projected Budget Projection Projection Projection Projection 2020-2024 Women's Lockers - - - 10,000 - - - 10,000 Bunkroom Wall Insulation - - - 8,000 - - - 8,000 Painting Outside/Bird Proofing 10,000 10,000 - Keyless Entry Upgrades - - - - 9,000 - - 9,000 Apparatus Door Close Safety System - - - - 45,000 45,000 Plymovent Upgrades - - 2,000 2,000 2,000 2,000 2,000 10,000 Bathroom Remodel - - - 50,000 - - - 50,000 Exterior Security Upgrades - - - - 1,500 - - 1,500 Interior Painting 5,000 5,000 5,000 5,000 5,000 15,000 Carpet Replacement - 5,185 - - - - - - Outdoor Signage - - - - - - 6,500 6,500 Window Replacement - - - 75,000 - - - 75,000 Apparatus Floor Resurfacing and Refinishing - - - - - 75,000 - 75,000 EMS Office Ceiling Replacement - - 2,500 - - - - 2,500 Furniture 5,000 3,000 - 5,000 - - - 5,000 Beds 6,000 7,000 - - - - - - Generator Replacement - - - 75,000 - - - 75,000 Refridgerators (3) - 5,000 - - - - - - Washer and Dryer - - - 1,800 - - - 1,800 Public Works Building: Building Needs Study - 2,275 - - - - - - Recondition/Reseal Garage Floor 25,000 25,000 - 25,000 25,000 25,000 25,000 100,000 Garage Exhaust Fans - - - 125,000 - - - 125,000 Garage Makeup Air Unit (Heat) - - - - 250,000 - - 250,000 Heritage Center: HVAC - - 310,000 - - - - 310,000 18 VILLAGE OF OAK BROOK, ILLINOIS Capital and Debt Budgeted Capital Requests Fiscal Year 2020 General Fund Dd1111UU111 RCIIIUUCI Office Painting Carpeting Replacement Exterior Wood Siding Maintenance Electrical Improvements HVAC Controls Upgrade Exterior Landscaping Convert Computer Lab to Conference Roorr Sound Dampening - Lobby Sound Dampening - Study Rooms Combine Reference and Youth Services Des Total Program 421 Police: Hand Gun Replacement Patrol Outfitted ATV License Plate Recognition System In -Car Camera Units (10) Body Cameras Total Program 621 LJ,VVV 2019 2019 2020 2021 2022 2023 2024 Total Project Name Budget Projected Budget Projection Projection Projection Projection 2020-2024 10,000 - - 10,000 - - - 10,000 90,000 90,000 - - - - - - Repoint Exterior 25,000 25,000 25,000 25,000 25,000 25,000 25,000 125,000 Painting 5,000 5,000 - 5,000 5,000 5,000 - 15,000 Library: - - 10,000 - - - 10,000 $ 459,900 $ 418,305 $ 411,500 $ 2,370,510 $ 896,500 $ 463,500 $ 202,500 4,344,510 Building Reserve Study - 10,000 15,000 - - - - 15,000 Dd1111UU111 RCIIIUUCI Office Painting Carpeting Replacement Exterior Wood Siding Maintenance Electrical Improvements HVAC Controls Upgrade Exterior Landscaping Convert Computer Lab to Conference Roorr Sound Dampening - Lobby Sound Dampening - Study Rooms Combine Reference and Youth Services Des Total Program 421 Police: Hand Gun Replacement Patrol Outfitted ATV License Plate Recognition System In -Car Camera Units (10) Body Cameras Total Program 621 LJ,VVV - - LJ,VVV - - - LJ,VVV 5,000 5,000 5,000 - 5,000 5,000 - 15,000 - - 200,000 - - - 200,000 - - 20,000 - - - 20,000 10,000 - - 10,000 - - - 10,000 90,000 90,000 - - - - - - 10,000 10,000 - - - - - - 15,000 - - 15,000 - - - 15,000 10,700 - - 10,700 - - - 10,700 10,200 - - 10,200 - - - 10,200 10,000 - - 10,000 - - - 10,000 $ 459,900 $ 418,305 $ 411,500 $ 2,370,510 $ 896,500 $ 463,500 $ 202,500 4,344,510 $ - $ - $ 25,200 $ S $ S 25,200 22,000 24,045 - - - - - - - 166,350 - - - - - - 70,000 73,495 - - - - - - - - 35,000 - - - - 35,000 $ 92,000 $ 263,890 $ 60,200 $ - $ - $ - $ - 60,200 19 VILLAGE OF OAK BROOK, ILLINOIS Capital and Debt Budgeted Capital Requests Fiscal Year 2020 General Fund Technical Rescue Air Cart & Hoses 2019 2019 2020 2021 2022 2023 2024 Total Project Name Budget Projected Budget Projection Projection Projection Projection 2020-2024 - $ - $ - $ 6,000 Zoll Monitor/Defibrillator $ 35,200 $ 35,200 $ 35,200 Fire: 35,200 $ 35,200 $ 35,200 $ 35,200 $ 176,000 Zoll Auto Pulse CPR Units 18,000 Fire Gear Replacement $ 21,875 $ 21,625 $ 24,500 $ 24,500 $ 24,500 $ 24,500 $ 24,500 $ 122,500 Fire Gear Inspection - - - - - - - - Large Diameter Fire Hose 10,000 9,845 10,000 10,000 10,000 10,000 10,000 50,000 Gear Dryer - Station 93 8,000 8,000 - - - - - - Gear Extractor - Station 94 - - - - 15,000 - - 15,000 Station Alerting Upgrades 10,000 10,000 - - - - - - Refrigerator/Freezer - Station 93 5,000 4,250 - - - - - - Thermal Imaging Camera - E93 - - - 7,500 - - - 7,500 Thermal Imaging Camera - S93 - - - - - 7,500 - 7,500 Office Chairs 7,600 7,500 - - - - - - Mattresses - Stations 93 and 94 17,000 16,985 - - - - - - Recliner Chairs - - - 10,400 - 10,400 - 20,800 Paratech Struts - - 7,880 - - - 7,880 Paratech Rescue Air Bags - - 8,250 - - - - 8,250 Fitness Equipment - Station 93 - - - - 7,500 - 7,500 15,000 Fitness Equipment - Station 94 - - - 7,500 - 7,500 - 15,000 Total Program 700 $ 79,475 $ 78,205 $ 50,630 $ 59,900 $ 57,000 $ 59,900 $ 42,000 $ 269,430 Technical Rescue Air Cart & Hoses $ - $ - $ 6,000 $ - $ - $ - $ - $ 6,000 Total Program 722 $ - $ - $ 6,000 $ - $ - $ - $ - $ 6,000 Zoll Monitor/Defibrillator $ 35,200 $ 35,200 $ 35,200 $ 35,200 $ 35,200 $ 35,200 $ 35,200 $ 176,000 Zoll Auto Pulse CPR Units 18,000 18,000 18,000 - - - - 18,000 EMS Body Armor - - - 3,200 3,200 3,200 - 9,600 20 VILLAGE OF OAK BROOK, ILLINOIS Capital and Debt Budgeted Capital Requests Fiscal Year 2020 General Fund 2019 2019 2020 2021 2022 2023 2024 Total Project Name Budget Projected Budget Projection Projection Projection Projection 2020-2024 AED Units Total Program 731 Total General Corporate Fund $ 59,700 $ 59,700 $ 59,700 $ 44,900 $ 44,900 $ 44,900 $ 35,200 $ 229,600 $ 862,475 $ 975,100 $ 688,030 $ 2,796,725 $ 1,148,400 $ 718,300 $ 429,700 $ 5,781,155 21 VILLAGE OF OAK BROOK 2020-2024 FIVE-YEAR FINANCIAL PLAN HOTEL/MOTEL TAX FUND DESCRIPTION: This fund is used to account 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 tourism and 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 approval of the Village Board. Beginning in 2007, 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. Village code dedicates 1% of the 3% Hotel/Motel Tax rate to funding activities of the Hotel, Convention and Visitors Committee; the remaining 2% of the 3% rate is dedicated to funding the Hotel District streetscape projects. OVERVIEW: Revenue: For 2020, revenues from the 3% Hotel/Motel Tax are projected to be $1.2 million, which is decrease of $55,500, or 4.4%, compared to the 2019 Budget and 2019 projected revenue. For 2021 and thereafter, revenue is projected to increase 1.0% per year. Operations (1% Fund): For 2020, the projections reflect expenditures for marketing efforts of the Hotel, Convention and Visitors Committee, as well as payments to the DuPage Convention and Visitors Bureau equal to 25% of the first 1% of the Hotel Tax imposed. Thereafter, expenditures increase approximately 3.0% per year. Exceptional Charges: The Plan reflects an annual reimbursement to the General Corporate Fund for administrative services from the Hotel, Convention and Visitors Committee for a portion of the Village Planner. A transfer of $303,125 to the Infrastructure Fund is budgeted in 2020 related to SB1217, which allows local governments to allocate 25% of tourism funds to improve capital infrastructure. Additionally, a transfer of $35,000 to the Sports Core Fund is budgeted in 2020 to sponsor the annual Taste of Oak Brook event. 22 VILLAGE OF OAK BROOK 2020-2024 FIVE-YEAR FINANCIAL PLAN Capital Improvement Program (2% Fund): The 2020 Budget includes pedestrian access improvements budgeted for $290,000 and median and street lighting projects for $50,395. Thereafter, additional outlays of specific projects are budgeted for improvements and maintenance in the Hotel Beautification District. 23 Unrestricted Cash Available, January 1, 2019 $4,809,830 Estimated Income Less Estimated Operating Expenses Operating Budget Exceptional Charges Estimated Net Operating Income Add Beginning of Year Cash Balance Estimated Available Funds Less Capital Improvement Program Estimated Unrestricted Cash Balance at Year -End Village of Oak Brook 2020-2024 Five -Year Financial Plan Hotel/Motel Tax Fund Summary 2019 2019 2020 2021 2022 2023 2024 Budget Estimate Budget Projection Projection Projection Projection $1,298,000 $1,373,000 $1,287,500 $1,306,870 $1,312,483 $1,311,027 $1,316,243 577,860 557,490 576,615 437,800 413,985 415,195 421,415 103,115 103,115 412,840 418,111 423,485 116,643 119,092 617,025 712,395 298,045 450,959 475,013 779,189 775,736 4,809,830 4,809,830 5,042,085 4,699,735 4,320,694 3,530,707 3,114,896 5,426,855 5,522,225 5,340,130 5,150,694 4,795,707 4,309,896 3,890,632 4,180,545 480,140 640,395 830,000 1,265,000 1,195,000 258,000 $1,246,310 $5,042,085 $4,699,735 $4,320,694 $3,530,707 $3,114,896 $3,632,632 24 25 Village of Oak Brook 2020-2024 Five -Year Financial Plan Hotel/Motel Tax Fund Revenue Projections 2019 2019 2020 2021 2022 2023 2024 Budget Estimate Budget Projection Projection Projection Projection Hotel/Motel Tax $1,268,000 $1,268,000 $1,212,500 $1,224,625 $1,236,871 $1,249,240 $1,261,732 Interest 30,000 105,000 75,000 82,245 75,612 61,787 54,511 Total Revenue $1,298,000 $1,373,000 $1,287,500 $1,306,870 $1,312,483 $1,311,027 $1,316,243 25 Operations and Contractual Total Operating Budget Exceptional Charges Reimbursement to General Fund Transfer to Infrastructure Fund Transfer to Sports Core Fund Total Exceptional Charges Capital Improvement Program Hotel Beautification and Projects Total Budget Village of Oak Brook 2020-2024 Five -Year Financial Plan Hotel/Motel Tax Fund Long -Range Operating Budget 2019 2019 2020 2021 2022 2023 2024 Budget Estimate Budget Projection Projection Projection Projection $577,860 $557,490 $576,615 $437,800 $413,985 $415,195 $421,415 $577,860 $557,490 $576,615 $437,800 $413,985 $415,195 $421,415 $103,115 0 0 $103,115 0 0 $74,715 $76,956 $79,265 $81,643 $84,092 303,125 306,155 309,220 0 0 35,000 35,000 35,000 35,000 35,000 $103,115 $103,115 $412,840 $418,111 $423,485 $116,643 $119,092 $4,180,545 $480,140 $640,395 $830,000 $1,265,000 $1,195,000 $258,000 $4,861,520 $1,140,745 $1,629,850 $1,685,911 $2,102,470 $1,726,838 $798,507 26 VILLAGE OF OAK BROOK, ILLINOIS Capital and Debt Budgeted Capital Requests Fiscal Year 2020 Hotel Tax Fund 2019 2019 2020 2021 2022 2023 2024 Total Project Name Budget Projected Budget Projection Projection Projection Projection 2020-2024 Median/Streetlighting Projects Irrigation Water Service Connection - 11 Locations Irrigation Design and Installation - 11 Locations Jorie Blvd and York Road Trees Jorie Blvd and York Road Bushes Jorie Blvd and York Road Plantings 22nd St. Replaement Trees, Bushes, and Plantings Design -Jorie, Kensington, Forest Gate Construction -Jorie, Kensington, Forest Gate Jorie, 31st St. Directional Sign, Flagpoles Design - York, 16th Street Construction - York, 16th Street Perimeter of OB Center Plantings Median Plantings TBD Additional projects Total Median/Streetlighting Projects Pedestrian Access Projects Traffic Signals with Pedestration Crossing Count Dowr $ - $ 272,275 $ - $ Street Light Head LED Reaplacement (Dark Sky) - 122,865 - 16th St. & Spring Rd. Pedestration Crossing Design (2) - - $ 80,000 $ 16th St. & Spring Rd. Connection (2) - - - York Rd. Pedestration Crossing Design (2) - - - Jorie Blvd. Pedestrian Crossing Design (4) 269,010 - 160,000 Jorie Blvd. Pedestrian Crossing (4) - - - 27 50,000 125,000 75,000 125,000 $ $ 80,000 125,000 88,000 88,000 - 160,000 250,000 $ 100,000 $ - $ - $ - $ 100,000 - - - 275,000 - - - 275,000 - - 40,000 - - - - 40,000 - - - 20,000 - - - 20,000 - - - - 20,000 - - 20,000 - - 20,000 10,000 10,000 10,000 10,000 60,000 1,112,910 - - - - - - - 2,723,625 - - - - - - - - - 120,395 - - - - 120,395 - - - 40,000 - - - 40,000 - - - - 1,000,000 1,000,000 - 2,000,000 - 10,000 20,000 10,000 10,000 10,000 10,000 60,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 125,000 50,000 50,000 25,000 250,000 25,000 50,000 25,000 375,000 $ 3,911,535 $ 85,000 $ 350,395 $ 630,000 $ 1,090,000 $ 1,095,000 $ 70,000 $ 3,235,395 Traffic Signals with Pedestration Crossing Count Dowr $ - $ 272,275 $ - $ Street Light Head LED Reaplacement (Dark Sky) - 122,865 - 16th St. & Spring Rd. Pedestration Crossing Design (2) - - $ 80,000 $ 16th St. & Spring Rd. Connection (2) - - - York Rd. Pedestration Crossing Design (2) - - - Jorie Blvd. Pedestrian Crossing Design (4) 269,010 - 160,000 Jorie Blvd. Pedestrian Crossing (4) - - - 27 50,000 125,000 75,000 125,000 $ $ 80,000 125,000 88,000 88,000 - 160,000 250,000 VILLAGE OF OAK BROOK, ILLINOIS Capital and Debt Budgeted Capital Requests Fiscal Year 2020 Hotel Tax Fund 2019 2019 2020 2021 2022 2023 2024 Total Project Name Budget Projected Budget Projection Projection Projection Projection 2020-2024 TBD Additional projects - - 50,000 25,000 50,000 25,000 100,000 250,000 Total Pedestrian Access Projects $ 269,010 $ 395,140 $ 290,000 $ 200,000 $ 175,000 $ 100,000 $ 188,000 $ 953,000 Total Hotel and Motel Fund $ 4,180,545 $ 480,140 $ 640,395 $ 830,000 $ 1,265,000 $ 1,195,000 $ 258,000 $ 4,188,395 0 VILLAGE OF OAK BROOK 2020-2024 FIVE-YEAR FINANCIAL PLAN MOTOR FUEL TAX FUND The Motor Fuel Tax (MFT) Fund is used to account for funds distributed to the Village by the State of Illinois pursuant to the MFT distribution formula. State law limits the use of these funds for specified purposes. This edition of the Five -Year Financial Plan continues the practice of periodically allocating MFT funds to eligible street resurfacing and reconstruction projects. OVERVIEW: Revenue: The Motor Fuel Tax is levied on a cents -per -gallon basis and is deposited into a segregated fund at the State level. From there, funds are distributed to local governments on a per -capita basis, according to a formula and based on the last certified census. Beginning in 2019, the State increased the gas tax by 19 cents per gallon and is distributing the additional tax to local governments on a comparable formula. Revenues for 2020 are budgeted at $314,250, an increase of $116,500, or 58.9%, over projected 2019 Budget and $78,145, or 33.1%, over the 2019 projected revenue. For years, 2021- 2024 revenues are projected to increase 2.0% each year, with the additional 19 -cent formula holding steady. Exceptional Charges: Funds are projected to be transferred to the Infrastructure Fund as needed for related Motor Fuel Tax projects. For 2020, a $1,350,000 transfer to the Infrastructure Fund is budgeted. 29 Unrestricted Cash Available, January 1, 2019 Estimated Income Less Estimated Operating Expenses Operating Budget Exceptional Charges Estimated Net Operating Income Add Beginning of Year Cash Balance Estimated Available Funds Less Capital Improvement Program Estimated Unrestricted Cash Balance at Year -End $779,844 Village of Oak Brook 2020-2024 Five -Year Financial Plan Motor Fuel Tax Fund Summary 2019 2019 2020 2021 2022 2023 2024 Budget Estimate Budget Projection Projection Projection Projection $203,750 $254,105 $319,250 $317,821 $319,400 $320,987 $322,582 0 0 0 0 0 0 0 900,000 0 1,350,000 320,000 320,000 321,000 322,000 (696,250) 254,105 (1,030,750) (2,179) (600) (13) 582 779,844 779,844 1,033,949 3,199 1,020 421 408 83,594 1,033,949 3,199 1,020 421 408 990 0 0 0 0 0 0 0 $83,594 $1,033,949 $3,199 $1,020 $421 $408 $990 30 Village of Oak Brook 2020-2024 Five -Year Financial Pian Motor Fuel Tax Fund Revenue Projections 31 2019 2019 2020 2021 2022 2023 2024 Budget Estimate Budget Projection Projection Projection Projection Motor Fuel Tax Allotments $197,750 $236,105 $314,250 $315,821 $317,400 $318,987 $320,582 Interest 6,000 18,000 5,000 2,000 2,000 2,000 2,000 Miscellaneous 0 0 0 0 0 0 0 Total Revenue $203,750 $254,105 $319,250 $317,821 $319,400 $320,987 $322,582 31 Village of Oak Brook 2020-2024 Five -Year Financial Plan Motor Fuel Tax Fund Long -Range Operating Budget 2019 2019 2020 2021 2022 2023 2024 Budget Estimate Budget Projection Projection Projection Projection Exceptional Charges Transferto Infrastructure Fund $900,000 $0 $1,350,000 $320,000 $320,000 $321,000 $322,000 Total Exceptional Charges $900,000 $0 $1,350,000 $320,000 $320,000 $321,000 $322,000 32 VILLAGE OF OAK BROOK 2020-2024 FIVE-YEAR FINANCIAL PLAN INFRASTRUCTURE FUND 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. In April, 2007 a second referendum was passed and the rate of tax increased to 0.50% effective January 1, 2008 (collections began in April, 2008). 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. OVERVIEW: Revenue: Revenue from the Village's Non -Home Rule Sales Tax is projected at $5.6 million for 2020, which represents a $67,000, or 1.2%, increase from the 2019 budget, but a $8,000, or 0.1%, decrease from the 2019 projected revenue. As is the case with the General Sales Tax, 20% of the incremental Non -Home Rule Sales Taxes generated by the Promenade Development are required to be deposited in the Promenade Special Tax Allocation Fund. Thereafter, for 2021— 2024, the revenues are estimated to grow approximately 1.5% per year (See GENERAL ASSUMPTIONS). Transfers from the Motor Fuel Tax Fund are reflected as needed in order to supplement the roadway maintenance program. In 2020, a transfer of $1,350,000 from the Mother Fuel Tax Fund is budgeted. In addition, a transfer of $303,125 from the Hotel Tax Fund is budgeted in 2020. This transfer relates to 561217, which allows 25% of tourism money to be used on capital infrastructure projects. Reimbursements from the General Corporate Fund are reflected in order to allocate costs (mostly administrative) that are funded by the Infrastructure Fund that relate to activities in these funds. Operations: The 2020 Budget continues the outsourcing of the Village project engineering functions. 33 VILLAGE OF OAK BROOK 2020-2024 FIVE-YEAR FINANCIAL PLAN Capital Improvements: Major projects scheduled for 2020 include Salt Storage Facility construction for $1,911,845, York Road/Harger Road Intersection reconfiguration for $2,320,725, and the Windsor Bridge/Street widening for $2,625,000. A full list of all projects is included in this document. 34 Village of Oak Brook 2020-2024 Five -Year Financial Plan Infrastructure Fund Summary 2019 2019 2020 2021 2022 2023 2024 Budget Estimate Budget Projection Projection Projection Projection Unrestricted Cash Available, January 1, 2019 $9,278,944 Estimated Income $7,082,570 $6,398,570 $7,756,005 $6,699,100 $6,798,700 $6,588,688 $6,689,542 Less Estimated Operating Expenses Operating Budget 3,153,820 3,100,365 3,394,265 3,366,636 3,442,445 3,461,428 3,599,001 Exceptional Charges 240,370 240,370 267,660 340,149 356,594 370,970 378,130 Estimated Net Operating Income 3,688,380 3,057,835 4,094,080 2,992,315 2,999,661 2,756,290 2,712,411 Add Beginning of Year Cash Balance 9,278,944 9,278,944 6,137,799 11,789 (5,323,371) (6,620,375) (7,584,750) Estimated Available Funds 12,967,324 12,336,779 10,231,879 3,004,104 (2,323,710) (3,864,085) (4,872,339) Less Capital Improvement Program 10,008,575 6,198,980 10,220,090 8,327,475 4,296,665 3,720,665 4,517,435 Estimated Unrestricted Cash Balance at Year -End $2,958,749 $6,137,799 $11,789 ($5,323,371) ($6,620,375) ($7,584,750) ($9,389,774) 35 Village of Oak Brook 2020-2024 Five -Year Financial Plan Infrastructure Fund Revenue Projections I 2019 2019 2020 2021 2022 2023 2024 Budget Estimate Budget Projection Projection Projection Projection Non -Home Rule Sales Tax $5,548,000 $5,623,000 $5,615,000 $5,699,225 $5,784,713 $5,871,484 $5,959,556 Utility Inspection Fees 0 1,000 1,000 1,000 1,000 1,000 1,000 Interest 80,000 225,000 125,000 59 0 0 0 Transfer From Equipment Replacement Fund 216,125 216,125 0 0 0 0 0 Transfer From Motor Fuel Tax Fund 900,000 0 1,350,000 320,000 320,000 321,000 322,000 Transfer From Hotel Tax Fund 0 0 303,125 306,155 309,220 0 0 Reimbursements From Other Funds 333,445 333,445 359,380 370,161 381,266 392,704 404,485 Miscellaneous 5,000 0 2,500 2,500 2,500 2,500 2,500 Total Revenue $7,082,570 $6,398,570 $7,756,005 $6,699,100 $6,798,700 $6,588,688 $6,689,542 I Village of Oak Brook 2020-2024 Five -Year Financial Plan Infrastructure Fund Long -Range Operating Budget 37 2019 2019 2020 2021 2022 2023 2024 Budget Estimate Budget Projection Projection Projection Projection Personnel $1,322,375 $1,295,930 $1,389,540 $1,452,069 $1,517,412 $1,523,501 $1,657,052 Materials and Supplies 246,845 226,085 253,295 259,627 266,118 272,771 279,590 Operations and Contractual 1,584,600 1,578,350 1,751,430 1,795,216 1,840,096 1,886,099 1,933,251 Total Operating Budget 3,153,820 3,100,365 3,394,265 3,506,912 3,623,627 3,682,371 3,869,894 Adjustment for Budget Goal Attainment 3,394,265 3,366,636 3,442,445 3,461,428 3,599,001 Exceptional Charges Vehicle Replacement Charges 78,835 78,835 105,360 172,980 184,410 193,620 195,460 Reimbursement to Other Funds 161,535 161,535 162,300 167,169 172,184 177,350 182,670 Total Exceptional Charges 240,370 240,370 267,660 340,149 356,594 370,970 378,130 Capital Improvement Program (See Schedule) 10,008,575 6,198,980 10,220,090 8,327,475 4,296,665 3,720,665 4,517,435 Total Budget $13,402,765 $9,539,715 $13,882,015 $12,034,260 $8,095,704 $7,553,063 $8,494,566 37 VILLAGE OF OAK BROOK, ILLINOIS Capital and Debt Budgeted Capital Requests Fiscal Year 2020 Infrastructure Fund 2019 2019 2020 2021 2022 2023 2024 Total Project Name Budget Projected Budget Projection Projection Projection Projection 2020-2024 Drainage Maintenance Drainage Improvements Storm Sewer Maping and Verrification Storm Sewer Inspection and Testing B&T Circle Drainage 8&T Drive Drainage B&T Tennis Area Drainage B&T Parking Permeable Pavers and Parking Expansion B&T Wedding Area Walkway Drainage Golf Parking Lot Drainage Golf Parking Lot Permeable Pavers Salt Storage Drainage Construction Salt Storage Building Construction Total Program 364 Roadway Improvements Street Resurfacing/Reconstruction Street Cracksealing Brook Forest Phase 1 Street Improvements Brook Forest Phase 2 Street Improvements Brook Forest Phase 3 Street Improvements Brook Forest Phase 4 Street Improvements Ginger Creek Street Improvements Luthin/Enterprise Reconstruction York Road/1-88 Bridge York Road/Harger Road Intersection/Bike Path B&T Circle Construction Harger Road Bike Path Construction $ 20,000 $ 20,000 $ 20,000 $ 20,000 $ 20,000 $ 20,000 $ 20,000 $ 100,000 - - 20,000 10,000 - - - 30,000 - - 20,000 20,000 20,000 20,000 - 80,000 15,000 10,000 - - - - - - 50,000 33,000 - - - - - - - - - 350,000 - - - 350,000 - - - 1,840,000 - - - 1,840,000 - - - 50,000 - - - 50,000 - - - - - 75,000 75,000 - - - - - - 1,500,000 1,500,000 1,985,000 2,029,385 - - - - - - nnn nnn evn nnn t Q11 uaa _ _ - _ 1 011 unc $ 2,331,580 $ 1,323,875 $ 750,000 $ - 75,000 825,000 621,000 621,000 - 762,420 762,420 653,505 257,300 257,300 2,320,725 616,275 892,000 - 1,750,000 - 409,015 38 750,000 $ 1,000,000 $ 3,000,000 $ 3,000,000 $ 8,500,000 75,000 75,000 75,000 75,000 375,000 - - - - 825,000 2,000,000 - - 2,000,000 - 2,000,000 - - 2,000,000 - 210,000 - 210,000 - - 375,000 375,000 - - - - 653,505 1,045,305 - - - 3,366,030 409,015 VILLAGE OF OAK BROOK, ILLINOIS Capital and Debt Budgeted Capital Requests Fiscal Year 2020 Infrastructure Fund 2019 2019 2020 2021 2022 2023 2024 Total Project Name Budget Projected Budget Projection Projection Projection Projection 2020-2024 Harger Road Resurfacing After Water Main Replacemem - - - 700,000 - - - 700,000 Spring Road, 22nd North to Limits After Water Main - - - - 850,000 - - 850,000 Windsor Bridge/Street Utility Relocation - - 1,000,000 - - - - 1,000,000 Windsor Bridge(Tollway) - - - 762,420 762,420 762,420 - 2,287,260 Windsor Bridge/Street Construction - - 2,625,000 1,125,000 - - - 3,750,000 Total Program 461 $ 6,338,575 $ 3,856,595 $ 8,658,245 $ 6,457,725 $ 4,687,420 $ 4,047,420 $ 3,450,000 $27,300,810 Less Engineering Fees (400,000) (400,000) (410,000) (420,250) (430,755) (441,525) (452,565) (2,155,096) Net Program 461 $ 5,938,575 $ 3,456,595 $ 8,248,245 $ 6,037,475 $ 4,256,665 $ 3,605,895 $ 2,997,435 $ 25,145,714 Total Infrastructure Fund $10,008,575 $ 6,198,980 $10,220,090 $ 8,327,475 $ 4,296,665 $ 3,720,895 $ 4,517,435 $29,170,714 39 VILLAGE OF OAK BROOK 2020-2024 FIVE-YEAR FINANCIAL PLAN PROMENDADE SPECIAL TAX ALLOCATION FUND 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 has issued 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: Revenues from the incremental real estate tax revenue generated by the development are projected based on sales tax projections from the General and Infrastructure Funds. For 2021 and thereafter, real estate tax revenues are projected based on increasing at 1.5%. Sales tax receipts from the General Fund and Infrastructure Fund is included based on 20% of the expected General Sales Tax and Non -Home Rule Sales Tax expected to be generated from the development. Exceptional Charges: Exceptional charges consist of debt service on the $4.25 million limited obligation notes that were issued in early 2008. The notes provide in November each year the Village is to notify the holders of the notes as to the amount funds expected to be on hand to fund debt service for the subsequent year. Based on the amounts projected to be available for the succeed year debt service payments are to scheduled to be applied to (1) interest on past due interest, (2) current interest, and (3) repayment of principal. For the 2020 Budget and years 2021-2024, principal and interest payments are projected based on the original repayment schedule. 40 Village of Oak Brook 2020-2024 Five -Year Financial Plan Promenade T.I.F. Fund Summary 41 2019 2019 2020 2021 2022 2023 2024 Budget Estimate Budget Projection Projection Projection Projection Unrestricted Cash Available, January 1, 2019 $257,485 Estimated Income $460,900 $511,210 $476,500 $480,361 $485,643 $490,984 $496,463 Less Estimated Operating Expenses Operating Budget 4,210 3,750 3,890 3,987 4,087 4,189 4,294 Exceptional Charges 460,980 460,980 504,900 481,440 488,385 337,785 0 Estimated Net Operating Income (4,290) 46,480 (32,290) (5,066) (6,829) 149,010 492,170 Add Beginning of Year Cash Balance 257,485 257,485 303,965 271,675 266,609 259,779 408,789 Estimated Available Funds 253,195 303,965 271,675 266,609 259,779 408,789 900,959 Less Capital Improvement Program 0 0 0 0 0 0 0 Estimated Unrestricted Cash Balance at Year -End $253,195 $303,965 $271,675 $266,609 $259,779 $408,789 $900,959 41 Village of Oak Brook 2020-2024 Five -Year Financial Plan Promenade T.I.F. Fund Revenue Projections 2019 2019 2020 2021 2022 2023 2024 Budget Estimate Budget Projection Projection Projection Projection Real Estate Taxes $360,000 $411,710 $380,000 $383,800 $387,638 $391,514 $395,430 Sales Tax 100,000 97,500 95,000 96,425 97,871 99,339 100,830 Interest 900 2,000 1,500 136 133 130 204 Total Revenue $460,900 $511,210 $476,500 $480,361 $485,643 $490,984 $496,463 42 Village of Oak Brook 2020-2024 Five -Year Financial Plan Promenade T.I.F. Fund Long -Range Operating Budget 2019 2019 2020 2021 2022 2023 2024 Budget Estimate Budget Projection Projection Projection Projection Operations and Contractual $4,210 $3,750 $3,890 $3,987 $4,087 $4,189 $4,294 Total Operating Budget 4,210 3,750 3,890 3,987 4,087 4,189 4,294 Exceptional Charges Debt Service Interest 243,980 243,980 224,900 278,400 308,200 257,000 0 Debt Service Principal 217,000 217,000 280,000 203,040 180,185 80,785 0 Total Exceptional Charges 460,980 460,980 504,900 481,440 488,385 337,785 0 Total Budget $ 465,190 $ 464,730 $ 508,790 $ 485,427 $ 492,472 $ 341,974 $ 4,294 43 VILLAGE OF OAK BROOK 2020-2024 FIVE-YEAR FINANCIAL PLAN WATER FUND The water utility is one of two large enterprises operated by the Village. It serves approximately 5,200 customers, nearly 2,000 of which are located outside the corporate limits of Oak Brook. The Water Fund supports both operations and capital improvements to the water system. The Water Fund is considered an enterprise fund and is operated on a self-supporting basis. OVERVIEW: Revenue: Revenue from the sale of water is based on an average of 886 million gallons billed per year and usage is projected to remain flat in order to mitigate fluctuations due to weather. In late 2018, the Village worked with a consultant to update its 2015 a water rate study. The results of the study recommend rate increases over the next five years to continue its capital improvement plan on schedule. The 2020 budget was prepared using a 7.0% increase effective January 1, 2020. The 2020-2024 Five Year Plan reflects rate increases of 7.0% annually in order to fund expected long-term capital outlays due to the aging of the system and an estimated 2.5% rate increase from the City of Chicago to the DuPage Water Commission. Operations: The cost to DuPage Water Commission is reflective in the 2020 budget at $4,843,265 and 2.5% increases in years 2021— 2024. Capital Improvements: The capital improvement program reflects a focus on water main replacement for the next twenty years. 44 Village of Oak Brook 2020-2024 Five -Year Financial Plan Water Fund Summary 2019 2019 2020 2021 2022 2023 2024 Budget Estimate Budget Projection Projection Projection Projection Unrestricted Cash Available, January 1, 2019 $6,426,743 Estimated Income $10,715,835 $10,359,460 $10,696,725 $11,386,151 $12,123,362 $12,911,693 $13,754,701 Less Estimated Operating Expenses Operating Budget 1,496,810 1,473,245 1,894,485 1,636,062 1,680,844 1,726,753 1,773,812 Exceptional Charges 5,782,225 5,081,520 5,409,050 5,581,241 5,721,628 5,865,607 6,014,828 Estimated Net Operating Income 3,436,800 3,804,695 3,393,190 4,168,848 4,720,890 5,319,333 5,966,061 Add Beginning of Year Cash Balance 6,426,743 6,426,743 5,027,363 2,127,328 586,176 (1,428,359) (909,026) Estimated Available Funds 9,863,543 10,231,438 8,420,553 6,296,176 5,307,066 3,890,974 5,057,034 Less Capital Improvement Program 6,244,075 5,204,075 6,293,225 5,710,000 6,735,425 4,800,000 5,000,000 Estimated Unrestricted Cash Balance at Year -End $3,619,468 $5,027,363 $2,127,328 $586,176 ($1,428,359) ($909,026) $57,034 45 Village of Oak Brook 2020-2024 Five -Year Financial Plan Water Fund Revenue Projections 46 2019 2019 2020 2021 2022 2023 2024 Budget Estimate Budget Projection Projection Projection Projection Water Sales $10,223,250 $9,627,175 $10,302,525 $10,980,125 $11,705,155 $12,480,940 $13,311,025 Unmetered Sales 30,000 33,000 30,000 30,900 31,827 32,782 33,765 Connection Fees 50,000 175,000 100,000 103,000 106,090 109,273 112,551 Meter Fees 20,000 27,000 20,000 20,600 21,218 21,855 22,510 Special Services 30,000 32,000 30,000 30,900 31,827 32,782 33,765 Fire Service Charge 5,000 0 0 0 0 0 0 Plan Review Fees 1,500 1,200 1,200 1,236 1,273 1,311 1,351 Inspection Fees 5,000 8,000 8,000 8,240 8,487 8,742 9,004 Interest 55,000 160,000 130,000 133,900 137,917 142,055 146,316 Transfer From Equipment Replacement Fund 221,085 221,085 0 0 0 0 0 Miscellaneous 75,000 75,000 75,000 77,250 79,568 81,955 84,413 Total Revenue $10,715,835 $10,359,460 $10,696,725 $11,386,151 $12,123,362 $12,911,693 $13,754,701 46 Exceptional Charges DWC Fixed and 0 & M Charges $5,192,805 Village of Oak Brook $4,843,265 $4,964,347 $5,088,455 $5,215,667 $5,346,058 2020-2024 Five -Year Financial Plan 551,830 551,830 526,815 542,619 558,898 575,665 Water Fund Vehicle Replacement Charges 37,590 37,590 38,970 74,275 74,275 Long -Range Operating Budget 75,835 Total Exceptional Charges $5,782,225 $5,081,520 $5,409,050 $5,581,241 $5,721,628 $5,865,607 $6,014,828 Capital Improvement Program 2019 2019 2020 2021 2022 2023 2024 $6,244,075 Budget Estimate Budget Projection Projection Projection Projection Personnel $828,710 $793,935 $868,705 $907,797 $948,648 $991,337 $1,035,947 Materials and Supplies 76,210 76,010 74,260 76,488 78,782 81,146 83,580 Operations and Contractual 591,890 603,300 951,520 702,378 723,449 745,152 767,507 Total Operating Budget $1,496,810 $1,473,245 $1,894,485 $1,686,662 $1,750,879 $1,817,635 $1,887,034 Adjustment for Budget Goal Attainment $1,894,485 $1,636,062 $1,680,844 $1,726,753 $1,773,812 Exceptional Charges DWC Fixed and 0 & M Charges $5,192,805 $4,492,100 $4,843,265 $4,964,347 $5,088,455 $5,215,667 $5,346,058 Reimbursement To General Corporate Fund 551,830 551,830 526,815 542,619 558,898 575,665 592,935 Vehicle Replacement Charges 37,590 37,590 38,970 74,275 74,275 74,275 75,835 Total Exceptional Charges $5,782,225 $5,081,520 $5,409,050 $5,581,241 $5,721,628 $5,865,607 $6,014,828 Capital Improvement Program (See Schedule) $6,244,075 $5,204,075 $6,293,225 $5,710,000 $6,735,425 $4,800,000 $5,000,000 Total Budget $13,523,110 $11,758,840 $13,596,760 $12,927,303 $14,137,897 $12,392,360 $12,788,640 47 VILLAGE OF OAK BROOK, ILLINOIS Capital and Debt Budgeted Capital Requests Fiscal Year 2020 Water Fund New Water Meters Customet Portahole $ - 2019 2019 2020 2021 2022 2023 2024 Total Project Name 550,000 Budget Projected Budget Projection Projection Projection Projection 2020-2024 Install Master Meters 610,825 610,825 285,000 Water Modeling Update - - 45,000 Water Tower Painting 650,000 Distribution Improvements: 1,168,225 Water System Control Valves Replacement - - 100,000 Booster Station Electrical Upgrade - - - Water System Controls Radio Upgrade $ - - Well #5 Rehab - - - Well #6 Rehab $ - Replacement Water Meters $ 20,000 $ 20,000 $ 20,000 $ 20,000 $ 20,000 $ 20,000 $ 20,000 $ 100,000 Total Program 351 $ 20,000 $ 20,000 $ 20,000 $ 20,000 $ 20,000 $ 20,000 $ 20,000 $ 100,000 New Water Meters Customet Portahole $ - $ - $ 35,000 $ SCADA Controls 500,000 500,000 - SCADA Software, Programming, and Upgrades - - 550,000 Water Storage Mixer 100,000 75,000 40,000 Master Meter Design 25,000 25,000 250,000 Install Master Meters 610,825 610,825 285,000 Water Modeling Update - - 45,000 Water Tower Painting 650,000 - 1,168,225 Water System Control Valves Replacement - - 100,000 Booster Station Electrical Upgrade - - - 31st St Electrical Upgrde and Well Electctric - - - Well #5 Rehab - - - Well #6 Rehab - - - Luthin Road Engineering and Construction 408,250 408,250 - Redesign Reseveor B Electrical Survey Design - - - Generator Reservoir B - - - Harger Road Bridge to Yorkshire Construction 365,000 - 425,000 Harger Road - Spring to Yorkshire - - - Enterprise to Clearwater Watermain 632,500 632,500 - Concord/Ivy/Devonshire Watermain 2,932,500 2,932,500 - Charleton/Kimberly, Pembroke/Shelburne WM - - 2,850,000 Sports Core - Golf to B&T 525,000 Hamilton, Victoria, Briarwood - - - 48 $ - $ 35,000 550,000 - - - 40,000 80,000 25,000 25,000 25,000 25,000 350,000 190,000 195,000 195,000 195,000 1,060,000 - 20,000 - 20,000 85,000 - - - - 1,168,225 - - 100,000 1,000,000 - - 1,000,000 - 250,000 - - 250,000 - - 1,060,000 - 1,060,000 1,090,000 - 1,200,000 2,290,000 550,000 - - - 550,000 - 750,000 - - 750,000 - - - - 425,000 1,375,000 - - - 1,375,000 - - - - 2,850,000 - 525,000 2,550,000 - - - 2,550,000 VILLAGE OF OAK BROOK, ILLINOIS Capital and Debt Budgeted Capital Requests Fiscal Year 2020 Water Fund Project Name 2019 Budget 2019 Projected 2020 Budget 2021 Projection 2022 Projection 2023 Projection 2024 Projection Total 2020-2024 Mockingbird, Lambeth, Heather, Camelot WM - - - - 2,635,425 - - 2,635,425 Spring Road - 22nd North To Corporate Limits - - - - 1,750,000 - - 1,750,000 Ginger Creek North (Royal Vale), Misc. Saddlebrook - - - - - 3,500,000 - 3,500,000 Fullersburg Southwest, Misc. Trinity Lakes - - - - - - 3,500,000 3,500,000 Total Program 451 $ 6,224,075 $ 5,184,075 $ 6,273,225 $ 5,690,000 $ 6,715,425 $ 4,780,000 $ 4,980,000 $28,438,650 Total Water Fund $ 6,244,075 $ 5,204,075 $ 6,293,225 $ 5,710,000 $ 6,735,425 $ 4,800,000 $ 5,000,000 $28,538,650 49 VILLAGE OF OAK BROOK 2020-2024 FIVE-YEAR FINANCIAL PLAN E7I�L•i6Ydill �;tILll7 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 userfees. 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 operating expenses. However, scheduled capital expenditures will vary depending on the amount of resources available each year. For 2020, a transfer from the General Fund totaling $923,000 is needed to fund current capital expenditures. Delays in capital items are expected to occur in the future as funds are available. Revenue: The total number of Golf Club members is projected at 150 throughout the planning period. For years 2021- 2024, memberships are to remain flat and membership fees are increased 3% per year. Daily greens fees increase $.50 to $1.00 per round per year. Other revenues are adjusted consistent with market factors. Memberships for the Bath & Tennis Club is projected at 225 swim members and 45 tennis members. For 2020, a 7.5% membership rate was assumed across all swimming and tennis membership types. For years 2021-2024, memberships remain flat and membership fees are increased 2.5-3.0% per year. Bath and Tennis Clubhouse rental revenue is budgeted to increase by $65,000, or 27.7%, in 2020 compared to the 2019 budget due to the increase in future events booked. In 2021 and thereafter, rental income revenue is projected to increase 2.0%. 50 VILLAGE OF OAK BROOK 2020-2024 FIVE-YEAR FINANCIAL PLAN Operations: The Bath and Tennis Clubhouse will continue to market the preferred caterer (partner) concept to our wedding and special event clients. Capital Improvements: The capital improvement program in the Sports Core Fund Operations presentation reflects an ongoing program of maintaining existing equipment and facilities. The 2020 budget includes $1,921,545 in capital improvements and equipment replacements. FUTURE CONSIDERATIONS: Favorable operating results of the Sports Core Fund are largely dependent on weather, annual increases in user fee revenue, capital investment back into the Sports Core, and improved financial results of the Food and Beverage operations. Capital improvements completed over the past several years were planned with a view toward enhancing user experience. 51 Village of Oak Brook 2020-2024 Five -Year Financial Plan Sports Core Fund Summary 2019 2019 2020 2021 2022 2023 2024 Budget Estimate Budget Projection Projection Projection Projection Cash Available, January 1, 2019 $192,897 Estimated Income $4,842,290 $4,390,580 $5,014,735 $3,762,174 $3,689,171 $3,757,358 $3,826,964 Less Estimated Operating Expenses Operating Budget 3,186,390 3,179,940 3,168,070 3,280,413 3,396,984 3,517,954 3,643,499 Exceptional Charges 0 0 56,450 58,144 59,888 61,684 63,535 Estimated Net Operating Income 1,655,900 1,210,640 1,790,215 423,617 232,299 177,720 119,930 Add Beginning of Year Cash Balance 192,897 192,897 240,047 108,717 (2,515,091) (3,035,792) (3,158,572) Estimated Available Funds 1,848,797 1,403,537 2,030,262 532,334 (2,282,792) (2,858,072) (3,038,642) Less Capital Improvement Program 1,655,900 1,163,490 1,921,545 3,047,425 753,000 300,500 227,500 Estimated Cash Balance at Year -End $192,897 $240,047 $108,717 ($2,515,091) ($3,035,792) ($3,158,572) ($3,266,142) 52 Village of Oak Brook 2020-2024 Five -Year Financial Plan Sports Core Fund Revenue Projections 53 2019 2019 2020 2021 2022 2023 2024 Budget Estimate Budget Projection Projection Projection Projection Bath & Tennis Club: General Administration Grants $0 $0 $139,800 $139,800 $0 $0 $0 Miscellaneous (250) (1,300) (1,250) (1,250) (1,250) (1,250) (1,250) Transfer From General Fund 95,000 25,195 160,245 0 0 0 0 Reimbursement From Infrastructure Fund 24,000 24,000 24,000 24,000 24,000 24,000 24,000 Reimbursement From Water Fund 8,000 8,000 8,000 8,000 8,000 8,000 8,000 Swimming Memberships 222,615 207,255 223,885 229,482 235,219 241,100 247,127 Swim Fees 20,200 19,745 18,800 19,364 19,945 20,543 21,160 Miscellaneous 3,000 6,475 3,500 3,500 3,500 3,500 3,500 Transfer From General Fund 870,500 454,455 574,755 0 0 0 0 Tennis Memberships 22,200 14,750 17,750 18,283 18,831 19,396 19,978 Tennis Lessons and Programs 33,250 44,250 46,000 47,380 48,801 50,265 51,773 Beverage & Pro Shop Revenue 0 2,300 1,500 1,515 1,530 1,545 1,561 Miscellaneous 500 5,910 750 750 750 750 750 Transfer From General Fund 0 0 22,500 0 0 0 0 Open Fields Field Rental 200,000 200,000 212,000 218,360 224,911 231,658 238,608 Butler Range Rental 0 75,000 75,000 80,000 80,000 80,000 80,000 Taste of Oak Brook 185,000 0 120,000 122,400 124,848 127,345 129,892 Miscellaneous 0 114,740 0 0 0 0 0 Transfer From Hotel Tax Fund 0 0 35,000 35,000 35,000 35,000 35,000 Total Bath & Tennis Club $1,684,015 - $1,200,775 $1,682,235 $946,584 $824,085 $841,853 $860,099 Food & Beverage: Clubhouse Food & Beverage Rental Income 235,000 300,000 300,000 306,000 312,120 318,362 324,730 Miscellaneous 0 120 0 0 0 0 0 Transfer From General Fund 251,225 285,500 165,500 0 0 0 0 Poolside Grill Food Sales 36,000 35,375 36,000 36,720 37,454 38,203 38,968 Beverage/Liquor Sales 19,500 19,535 20,000 20,400 20,808 21,224 21,649 53 Village of Oak Brook 2020-2024 Five -Year Financial Plan Sports Core Fund Revenue Projections Golf Club Memberships 2019 2019 2020 2021 2022 2023 2024 Golf Fees Budget Estimate Budget Projection Projection Projection Projection Golf Club Lounge 200,000 205,000 207,000 211,140 215,363 219,670 224,063 Food Sales 125,000 130,000 130,000 132,600 135,252 137,957 140,716 Beverage/Liquor Sales 233,000 244,000 245,000 249,900 254,898 259,996 265,196 Candy/Cigarette Sales 14,500 14,500 14,500 14,790 15,086 15,388 15,695 Total Food & Beverage $914,225 $1,029,030 $911,000 $760,410 $775,618 $791,131 $806,953 Golf Club Memberships $209,000 $197,675 $217,500 221,850 226,287 230,813 235,429 Golf Fees 930,000 915,000 930,000 948,600 967,572 986,923 1,006,662 Merchandise Sales 200,000 205,000 207,000 211,140 215,363 219,670 224,063 Driving Range Fees 310,000 244,000 244,000 246,440 248,904 251,393 253,907 Golf Lessons 40,000 40,000 40,000 40,400 40,804 41,212 41,624 Cart Rental Fees 371,000 331,000 371,000 374,710 378,457 382,242 386,064 Equipment Rental Fees 4,000 4,500 4,000 4,040 4,080 4,121 4,162 Miscellaneous 5,050 8,130 8,000 8,000 8,000 8,000 8,000 Transfer from Golf Surcharge 175,000 215,470 400,000 0 0 0 0 Total Golf Club $2,244,050 $2,160,775 $2,421,500 $2,055,180 $2,089,468 $2,124,375 $2,159,912 Total Sports Core Operations $4,842,290 $4,390,580 $5,014,735 $3,762,174 $3,689,171 $3,757,358 $3,826,964 54 Exceptional Charges Reimbursement to General Fund 0 0 56,450 58,144 59,888 61,684 63,535 Total $0 $0 $56,450 $58,144 $59,888 $61,684 $63,535 Capital Improvement Program Sports Core Operations (See Schedule) 1,655,900 Village of Oak Brook 1,921,545 3,047,425 753,000 300,500 227,500 2020-2024 Five -Year Financial Plan $1,163,490 $1,921,545 $3,047,425 $753,000 $300,500 $227,500 Sports Core Fund $4,842,290 $4,343,430 $5,146,065 $6,385,981 $4,209,872 $3,880,138 Long -Range Operating Budget 2019 2019 2020 2021 2022 2023 2024 Budget Estimate Budget Projection Projection Projection Projection Personnel $1,572,920 $1,557,480 $1,578,100 $1,649,115 $1,723,325 $1,800,874 $1,881,914 Materials and Supplies 580,645 658,890 618,025 633,476 649,313 665,545 682,184 Operations and Contractual 1,115,975 1,046,720 1,055,095 1,080,972 1,107,497 1,134,684 1,162,551 Other (83,150) (83,150) (83,150) (83,150) (83,150) (83,150) (83,150) Total $3,186,390 $3,179,940 $3,168,070 $3,280,413 $3,396,984 $3,517,954 $3,643,499 Exceptional Charges Reimbursement to General Fund 0 0 56,450 58,144 59,888 61,684 63,535 Total $0 $0 $56,450 $58,144 $59,888 $61,684 $63,535 Capital Improvement Program Sports Core Operations (See Schedule) 1,655,900 1,163,490 1,921,545 3,047,425 753,000 300,500 227,500 Total $1,655,900 $1,163,490 $1,921,545 $3,047,425 $753,000 $300,500 $227,500 Total Budget $4,842,290 $4,343,430 $5,146,065 $6,385,981 $4,209,872 $3,880,138 $3,934,534 55 VILLAGE OF OAK BROOK, ILLINOIS Capital and Debt Budgeted Capital Requests Fiscal Year 2020 Sports Core Fund Swimming Operations Pool Lounge Chairs $ 2019 2019 2020 2021 2022 2023 2024 Total Project Name Budget Projected Budget Projection Projection Projection Projection 2020-2024 400,000 700,000 Concrete and Finish Pool Deck - - 40,000 Remodel Washrooms - - Bath & Tennis General Operations: Locker Room Painting - - 20,000 Fence - 11,440 - New Parking Lot Signs $ 5,000 $ - $ - $ 5,000 $ - $ 5,000 $ 5,000 $ 15,000 HVAC Replacement - - - 50,000 - - - 50,000 Exterior Painting - - - 25,000 25,000 - - 50,000 Replace Domestic Plumbing in Basement 90,000 25,195 - - - - - - B&T Hot Water Heater - - - 15,000 - - - 15,000 B&T Clubhouse Roof Scuppers - - - 20,000 - - - 20,000 Pond Bank Stabilization - - 108,215 - - - - 108,215 Pond Fountain and Lights - - - 25,000 - - - 25,000 Picnic Pavilion Area - - 100,000 108,635 - - - 208,635 Picnic Area Pathway - - - 155,180 - - - 155,180 Jogging Track - - 91,830 - - - - 91,830 Entryway Beautification - - - 367,310 - - - 367,310 Drainage Improvements - - - 100,000 - - - 100,000 Total Program 811 $ 95,000 $ 25,195 $ 300,045 $ 871,125 $ 25,000 $ 5,000 $ 5,000 $ 1,206,170 Swimming Operations Pool Lounge Chairs $ 8,000 $ - $ - $ Pool Umbrellas - 1,265 - Diving Boards 15,000 17,045 - Repair/Replace Stairs - - 20,000 Repair Pools, Gutter System, Flow Meters/Gauge 810,000 400,000 700,000 Concrete and Finish Pool Deck - - 40,000 Remodel Washrooms - - - Locker Room Painting - - 20,000 Fence - 11,440 - Pool Awning Replacement/Guard Station 20,000 5,820 - M. 8,000 $ 8,000 $ - $ - $ 16,000 - - - - 20,000 - - 700,000 - 40,000 - 80,000 - 250,000 - - 250,000 - 20,000 - 40,000 25,000 - - 25,000 VILLAGE OF OAK BROOK, ILLINOIS Capital and Debt Budgeted Capital Requests Fiscal Year 2020 Sports Core Fund 57 2019 2019 2020 2021 2022 2023 2024 Total Project Name Budget Projected Budget Projection Projection Projection Projection 2020-2024 Pool Check -In Station 5,000 4,385 - - 15,000 - - 15,000 Foundation Leak in Basement 10,000 - 10,000 - - 10,000 Light Poles Around Pool (6) - - - 35,000 - - - 35,000 Pool Electrical Improvements - 14,500 - - - - - - Swim Team Storage Shed, Flags 2,500 - - - - - - - Total Program 812 $ 870,500 $ 454,455 $ 790,000 $ 43,000 $ 298,000 $ 60,000 $ - $ 1,191,000 Tennis Operations: Tennis Court Nets and Posts $ - $ - $ 7,500 $ - $ - $ 3,000 $ - $ 10,500 Fencing for Courts - - - - 30,000 - - 30,000 Tennis Court Drainage and Irrigation - - - 75,000 - - - 75,000 Tennis Court Clay Curbing - - - 48,750 - - - 48,750 Paint Fencing - - 15,000 - - - 20,000 35,000 Drainage Improvements - - - 125,000 - - - 125,000 Tennis Shelter/Pro Building - - - 715,000 - - - 715,000 Demo and Rebuild Tennis Gazebo - - - 55,000 - - - 55,000 Total Program 813 $ - $ - $ 22,500 $ 1,018,750 $ 30,000 $ 3,000 $ 20,000 $ 1,094,250 Open Fields: Soccer Building Foundation $ 20,000 $ - $ - $ - $ - $ - $ - $ - Soccer Building Windows - - - - - - 20,000 20,000 Drainage Improvements - - - 125,000 - - - 125,000 Field Improvements 15,000 13,000 15,000 15,000 15,000 15,000 20,000 80,000 New Soccer Fields - - - 153,050 - - - 153,050 Total Program 816 $ 35,000 $ 13,000 $ 15,000 $ 293,050 $ 15,000 $ 15,000 $ 40,000 $ 378,050 57 VILLAGE OF OAK BROOK, ILLINOIS Capital and Debt Budgeted Capital Requests Fiscal Year 2020 Sports Core Fund 58 2019 2019 2020 2021 2022 2023 2024 Total Project Name Budget Projected Budget Projection Projection Projection Projection 2020-2024 B&T Clubhouse: Flooring Replacement $ - $ 38,260 $- Electrical Service Upgrade and Generator 200,000 238,075 - - - - - - B&T Generator Fence - 7,980 - - - - - New Roof Standing Steel - - $ 165,000 $ - $ - $ - $ - $ 165,000 B&T Clubhouse Exterior Painting - - - 30,000 - - 30,000 60,000 B&T Clubhouse Interior Painting 10,000 36,815 - 5,000 5,000 5,000 5,000 20,000 Brass Door Plates Kick Plates and Handle Plates - - - 2,500 - - - 2,500 Patio Lighting - - - 5,000 - - - 5,000 Floor Electrical Outlets - - - 20,000 - - - 20,000 B&T Clubhouse Faux Stone/Brick 30,000 8,900 - - - - - - B&T Clubhouse Tuck Pointing - 9,075 - Restain Window Trim and Interior Wood 15,000 3,465 - Lighting Exterior Fixtures Around Clubhouse 36,400 - - - - - - - Dishwasher Replacement - - - 25,000 - - - 25,000 Tiered Steps Brick Sidewalk Wedding (ADA) - - - 42,000 - - - 42,000 Wedding Area Electric (Lights & Sound System) - - - 12,000 - - - 12,000 B&T Clubhouse Bar Update 50,000 6,135 - - - - - - B&T Clubhouse Front Entrance Fascia 10,000 - - - - - - - B&T Clubhouse Front Entrance Bird Netting 15,000 - - - - - - - Ice Maker (3) - - 24,000 - - - - 24,000 Kitchen Equipment Replacement - - - 20,000 - - - 20,000 Designer Fee - - - 5,000 - - - 5,000 B&T Clubhouse Bathrooms - - - 250,000 - - - 250,000 Ceiling Repair Over Bar 5,000 - - - - - - - Remove Bead Board, Drywall and Paint 10,000 - - - - - - - New Banquet Chairs 7,000 - - 2,500 - 2,500 2,500 7,500 58 VILLAGE OF OAK BROOK, ILLINOIS Capital and Debt Budgeted Capital Requests Fiscal Year 2020 Sports Core Fund Golf Club Patio Improvements $ - $ 2019 2019 Outdoor Furniture 2020 2021 2022 Sewer Drain Repairs 2023 2024 Total Project Name 20,000 Budget Projected Golf Club Lounge Improvements Budget Projection Projection Exterior Staining Projection Projection 2020-2024 Pro Shop Upgrades 100,000 116,035 - - - - - - Pro Shop Entry Door - - - 10,000 - - - 10,000 Interior Flooring - - - - - - - - New Banquet Tables - 2,000 - Parking Lot Seal Coating/Striping - 2,000 - Parking Lot Replacement 2,000 2,000 6,000 Kitchen Floor Tile - - - Cart Path Replacement - 35,500 - Tee Signs - - 35,500 Kitchen Ceiling Tile - - - - - 5,000 - - 5,000 Total Program 821 $ 390,400 $ 348,705 $ 189,000 $ 456,500 $ 10,000 $ 9,500 $ 39,500 $ 704,500 Golf Cafe: New Ice Maker (2) $ - $ - $ 16,000 $ - $ - $ - $ - $ 16,000 Total Program 823 $ - $ - $ 16,000 $ - $ - $ - $ - $ 16,000 Golf Club Patio Improvements $ - $ 59,725 $- Outdoor Furniture - 31,055 - - - - - - Sewer Drain Repairs - - 30,000 - - - - 30,000 Golf Club Lounge Design Fees 20,000 - - - - - - - Golf Club Lounge Improvements - - 400,000 - - - - 400,000 Exterior Staining - - - - - 30,000 - 30,000 Pro Shop Upgrades 100,000 116,035 - - - - - - Pro Shop Entry Door - - - 10,000 - - - 10,000 Interior Flooring - - - - - - - - Interior Design Improvements - - - - - - - - Parking Lot Seal Coating/Striping 10,000 - 10,000 10,000 Parking Lot Replacement - - - - 250,000 - - 250,000 Parking Lot Drainage - - - - - 75,000 - 75,000 Cart Path Replacement 25,000 17,685 25,000 25,000 25,000 25,000 25,000 125,000 Tee Signs 15,000 15,000 - - - - - - Exhaust Fans (2) - - - 20,000 - - - 20,000 59 VILLAGE OF OAK BROOK, ILLINOIS Capital and Debt Budgeted Capital Requests Fiscal Year 2020 Sports Core Fund 2019 2019 2020 2021 2022 2023 2024 Total Project Name Budget Projected Budget Projection Projection Projection Projection 2020-2024 Roof Replacement HVAC Replacement Total Program 831 Ball Dispenser Replacement Ball Shelter Replacement Picker Cart Replacement Turf Range Hitting Stations Housing Structure Ball Machine Area Total Program 832 Tractors/Mowers Greens Riders (2) Utility Vehicle Sprayers Lastec 721XR Lastec 61 Skid Steer Trim Mowers Golf Maintenance Parking Lot Replacement Total Program 834 Total Sports Core Operations 100,000 80,000 100,000 80,000 $ $ $ 12,000 $ $ $ $ - $ 12,000 25,000 - - - - 25,000 - - 10,000 - - 10,000 - - 40,000 - - - 40,000 5,000 2,500 - - - - - - $ 51000 $ 2,500 $ 37,000 $ 40,000 $ 10,000 $ - $ - $ 87,000 $ $ $ 50,000 $ 50,000 $ 50,000 $ 50,000 $ - $ 200,000 - - - - - - 60,000 60,000 - - 28,000 28,000 28,000 28,000 112,000 40,000 39,140 35,000 - - - - 35,000 - - - - 12,000 - - 12,000 50,000 40,995 - - - - - - - - 12,000 12,000 - - - 24,000 $ 90,000 $ 80,135 $ 97,000 $ 90,000 $ 90,000 $ 78,000 $ 88,000 $ 443,000 $ 1,655,900 $ 1,163,490 $ 1,921,545 $ 3,047,425 $ 753,000 $ 300,500 $ 227,500 $ 6,249,970 Ci] VILLAGE OF OAK BROOK 2020-2024 FIVE-YEAR FINANCIAL PLAN GOLF SURCHARGE FUND DESCRIPTION: The Golf Surcharge Fund is the repository for revenues received from the $3.00 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 $3.00 surcharge applied to 38,335 rounds played. Exceptional Charges: Transfers of $400,000 in 2020 are planned to help fund golf clubhouse improvements. 61 Unrestricted Cash Available, January 1, 2019 Estimated Income Less Estimated Operating Expenses Operating Budget Exceptional Charges Estimated Net Operating Income Add Beginning of Year Cash Balance Estimated Available Funds Less Capital Improvement Program Estimated restricted Cash Balance at Year -End $436,292 Village of Oak Brook 2020-2024 Five -Year Financial Plan Golf Surcharge Fund Summary 2019 2019 2020 2021 2022 2023 2024 Budget Estimate Budget Projection Projection Projection Projection $125,000 $117,500 $117,500 $117,579 $120,513 $123,508 $126,567 0 0 0 0 0 0 0 175,000 215,470 400,000 0 0 0 0 (50,000) (97,970) (282,500) 117,579 120,513 123,508 126,567 436,292 436,292 338,322 55,822 173,401 293,914 417,422 386,292 338,322 55,822 173,401 293,914 417,422 543,989 0 0 0 0 0 0 0 $386,292 $338,322 $55,822 $173,401 $293,914 $417,422 $543,989 62 Village of Oak Brook 2020-2024 Five -Year Financial Plan Golf Surcharge Fund Revenue Projections 2019 2019 2020 2021 2022 2023 2024 Budget Estimate Budget Projection Projection Projection Projection Golf Surcharge $120,000 $110,000 $115,000 $117,300 $119,646 $122,039 $124,480 Interest 5,000 7,500 2,500 279 867 1,470 2,087 Total Revenue $125,000 $117,500 $117,500 $117,579 $120,513 $123,508 $126,567 63 Village of Oak Brook 2020-2024 Five -Year Financial Plan Golf Surcharge Fund Long -Range Operating Budget 64 2019 2019 2020 2021 2022 2023 2024 Budget Estimate Budget Projection Projection Projection Projection Exceptional Charges Transfer to Sports Core Fund $175,000 $215,470 $400,000 $0 $0 $0 $0 Total Exceptional Charges $175,000 $215,470 $400,000 $0 $0 $0 $0 64 VILLAGE OF OAK BROOK 2020-2024 FIVE-YEAR FINANCIAL PLAN SELF-INSURANCE FUND 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 increased 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: Since 2012, the amount expended for health insurance claims has moderated due primarily to a change in the third party administrator to Blue Cross/Blue Shield and alternative plan offerings. The Village offers a PPO, HMO alternative and High Deductible plans to all employees. For 2020, claims are projected based on various rates used to set equivalent premiums. For 2021 and beyond, a claims inflation factor of 5% per year has been used. Other expenses, including reinsurance costs, are also projected to increase 3% to 5% annually, beginning in July 2020. FUTURE CONSIDERATIONS: The future of health insurance is changing and the Affordable Care Act (ACA) presents the Village a number of challenges in forecasting and budgeting for federally mandated increases in benefits and taxes. We will continue to conservatively budget in order to prepare for unforeseen circumstances related to the on-going implementation of the ACA. 65 Unrestricted Cash Available, January 1, 2019 Estimated Income Less Estimated Operating Expenses Operating Budget Exceptional Charges Estimated Net Operating Income Add Beginning of Year Cash Balance Estimated Available Funds Less Capital Improvement Program Estimated Unrestricted Cash Balance at Year -End $468,568 Village of Oak Brook 2020-2024 Five -Year Financial Plan Self -Insurance Fund Summary 2019 2019 2020 2021 2022 2023 2024 Budget Estimate Budget Projection Projection Projection Projection $3,414,750 $3,406,560 $3,548,730 $3,717,333 $3,903,157 $4,098,318 $4,303,285 3,400,500 3,326,245 3,521,165 3,682,148 3,850,708 4,027,209 4,212,033 14,250 80,315 27,565 35,185 52,448 71,108 91,251 468,568 468,568 548,883 576,448 611,633 664,082 735,190 482,818 548,883 576,448 611,633 664,082 735,190 826,441 0 0 0 0 0 0 0- $482,818 $548,883 $576,448 $611,633 $664,082 $735,190 $826,441 M Village of Oak Brook 2020-2024 Five -Year Financial Plan SELF-INSURANCE FUND Revenue Projections 67 2019 2019 2020 2021 2022 2023 2024 Budget Estimate Budget Projection Projection Projection Projection Village Contributions $1,814,250 $1,769,420 $1,851,150 $1,943,708 $2,040,893 $2,142,938 $2,250,084 Participant Contributions 482,000 479,720 504,300 529,515 555,991 583,790 612,980 Park District Contributions 717,000 717,860 750,300 787,815 827,206 868,566 911,994 Retiree Contributions 399,000 418,060 431,730 453,317 475,982 499,781 524,771 Cobra Contributions 0 4,000 1,250 1,250 1,250 1,250 1,250 Interest 2,500 17,500 10,000 1,729 1,835 1,992 2,206 Total Revenue $3,414,750 $3,406,560 $3,548,730 $3,717,333 $3,903,157 $4,098,318 $4,303,285 67 Village of Oak Brook 2020-2024 Five -Year Financial Plan SELF-INSURANCE FUND Long -Range Operating Budget m 2019 2019 2020 2021 2022 2023 2024 Budget Estimate Budget Projection Projection Projection Projection Exceptional Charges Stop -Loss Premiums $289,000 $313,480 $325,000 $334,750 $344,793 $355,136 $365,790 PPO Health Claims 2,153,000 2,082,315 2,214,000 2,324,700 2,440,935 2,562,982 2,691,131 HMO Health Premiums 382,000 410,810 455,000 477,750 501,638 526,719 553,055 Retiree Supplemental Premiums 138,000 130,005 139,050 143,222 147,518 151,944 156,502 Dental Premiums 203,000 209,445 196,800 204,672 212,859 221,373 230,228 Vision Insurance Premiums 8,300 12,085 12,115 12,478 12,853 13,238 13,636 Life Insurance Premiums 22,200 21,390 22,200 22,866 23,552 24,259 24,986 Plan Administration Fees 145,000 99,480 102,000 105,060 108,212 111,458 114,802 Miscellaneous 60,000 47,235 55,000 56,650 58,350 60,100 61,903 Total Exceptional Charges $3,400,500 $3,326,245 $3,521,165 $3,682,148 $3,850,708 $4,027,209 $4,212,033 m VILLAGE OF OAK BROOK 2020-2024 FIVE-YEAR FINANCIAL PLAN GARAGEFUND DESCRIPTION: This fund is an internal service fund financed by charges to Village departments for maintenance of vehicle fleet equipment. Expenditures support the operation and maintenance of cars, trucks, 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 include increases in the cost of fuel due to elevated oil prices as well as increases in the cost of repairs. Capital Expenditures: A floor lift replacement for $20,000 is planned for 2020. we Unrestricted Cash Available, January 1, 2019 Estimated Income Less Estimated Operating Expenses Operating Budget Exceptional Charges Estimated Net Operating Income Add Beginning of Year Cash Balance Estimated Available Funds Less Capital Improvement Program Estimated Unrestricted Cash Balance at Year -End $331,134 Village of Oak Brook 2020-2024 Five -Year Financial Plan Garage Fund Summary 2019 2019 2020 2021 2022 2023 2024 Budget Estimate Budget Projection Projection Projection Projection $664,615 $668,715 $738,315 $755,975 $778,458 $801,612 $825,456 709,410 673,635 722,945 745,988 769,830 794,502 820,035 46,150 46,150 45,145 58,549 59,882 61,255 62,669 (90,945) (51,070) (29,775) (48,562) (51,254) (54,145) (57,248) 331,134 331,134 280,064 230,289 181,727 130,473 76,328 240,189 280,064 250,289 181,727 130,473 76,328 19,080 0 0 20,000 0 0 0 0 $240,189 $280,064 $230,289 $181,727 $130,473 $76,328 $19,080 70 Village of Oak Brook 2020-2024 Five -Year financial Plan GARAGEFUND Revenue Projections 71 2019 2019 2020 2021 2022 2023 2024 Budget Estimate Budget Projection Projection Projection Projection Vehicle 0 & M Charges $605,560 $605,560 $732,315 $754,284 $776,913 $800,220 $824,227 Interest 4,000 7,500 5,000 691 545 391 229 Transfer From Equipment Replacement Fund 54,555 54,555 0 0 0 0 0 Miscellaneous 500 1,100 1,000 1,000 1,000 1,000 1,000 Total Revenue $664,615 $668,715 $738,315 $755,975 $778,458 $801,612 $825,456 71 72 Village of Oak Brook 2020-2024 Five -Year Financial Plan GARAGEFUND Long -Range Operating Budget 2019 2019 2020 2021 2022 2023 2024 Budget Estimate Budget Projection Projection Projection Projection Personnel $231,450 $203,930 $248,450 $259,630 $271,314 $283,523 $296,281 Materials and Supplies 170,790 171,335 174,875 179,247 183,728 188,321 193,029 Operations and Contractual 307,170 298,370 299,620 307,111 314,788 322,658 330,724 Total Operating Budget $709,410 $673,635 $722,945 $745,988 $769,830 $794,502 $820,035 Exceptional Charges Reimbursement to Infrastructure Fund $40,490 $40,490 $43,135 $44,429 $45,762 $47,135 $48,549 Vehicle Replacement Charge 5,660 5,660 2,010 14,120 14,120 14,120 14,120 Total Exceptional Charges $46,150 $46,150 $45,145 $58,549 $59,882 $61,255 $62,669 Capital Improvement Program. Floor Lift $0 $0 $20,000 $0 $0 $0 $0 Total Capital Improvement Program $0 $0 $20,000 $0 $0 $0 $0 Total Budget $755,560 $719,785 $788,090 $804,537 $829,712 $855,757 $882,704 72 VILLAGE OF OAK BROOK, ILLINOIS Capital and Debt Budgeted Capital Requests Fiscal Year 2020 Garage Fund 2019 2019 2020 2021 2022 2023 2024 Total Project Name Budget Projected Budget Projection Projection Projection Projection 2020-2024 Floor Lift $ - $ - Total Program 341 $ - $ - - $ - $ - $ - $ 20 R Total Garage Fund $ - $ - $ 20,000 $ - $ - $ - $ - $ 20,000 73 VILLAGE OF OAK BROOK 2020-2024 FIVE-YEAR FINANCIAL PLAN EQUIPMENT REPLACEMENT FUND 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% of the total 5% rate). For 2003 and 2004, the Equipment Replacement Fund's share of utility tax collections was redirected to the General Corporate Fund in order to fund operating needs (the General Corporate Fund share was not funded). For 2005 and thereafter there is a return to the 2002 practice whereby operating budget programs are assessed a charge -back based on future replacement cost. Operations: A new vehicle -leasing program began in 2020. Annual lease fees of $206,720 are budgeted for 2020 and increase each year as more vehicles are added to the leased fleet. The entire small vehicle fleet is scheduled to be under lease within five years. The Village is currently exploring leasing opportunities for larger vehicles, such as fire trucks. Exceptional Charges: Reimbursements to the Infrastructure Fund are budgeted for administration services for the Public Works Director and Public Works Superintendent. 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. 74 Village of Oak Brook 2020-2024 Five -Year Financial Plan EQUIPMENT REPLACEMENT FUND Summary 2019 2019 2020 2021 2022 2023 2024 Budget Estimate Budget Projection Projection Projection Projection Unrestricted Cash Available, January 1, 2019 $1,622,866 Estimated Income $233,970 $251,370 $335,660 $866,585 $969,805 $1,001,080 $1,027,405 Less Estimated Operating Expenses Operating Budget 115,440 64,600 206,720 543,505 635,365 658,155 683,545 Exceptional Charges 1,009,585 1,009,585 14,590 15,028 15,479 15,479 15,479 Estimated Net Operating Income (891,055) (822,815) 114,350 308,052 318,961 327,446 328,381 Add Beginning of Year Cash Balance 1,622,866 1,622,866 800,051 859,726 878,778 932,810 1,015,491 Estimated Available Funds 731,811 800,051 914,401 1,167,778 1,197,740 1,260,256 1,343,873 Less Capital Improvement Program 129,310 0 54,675 289,000 264,930 244,765 299,000 Estimated Unrestricted Cash Balance at Year -End $602,501 $800,051 $859,726 $878,778 $932,810 $1,015,491 $1,044,873 75 Village of Oak Brook 2020-2024 Five -Year Financial Plan EQUIPMENT REPLACEMENT FUND Revenue Projections FZ: 2019 2019 2020 2021 2022 2023 2024 Budget Estimate Budget Projection Projection Projection Projection Vehicle Replacement Charges 216,470 216,470 318,660 856,585 959,805 991,080 1,017,405 Interest 7,500 17,400 14,000 10,000 10,000 10,000 10,000 Sales/Insurance Proceeds 10,000 17,500 3,000 0 0 0 0 Total Revenue $233,970 $251,370 $335,660 $866,585 $969,805 $1,001,080 $1,027,405 FZ: Village of Oak Brook 2020-2024 Five -Year Financial Plan EQUIPMENT REPLACEMENT FUND Long -Range Operating Budget 2019 2019 2020 2021 2022 2023 2024 Budget Estimate Budget Projection Projection Projection Projection Operations and Contractual $115,440 $64,600 $206,720 $543,505 $635,365 $658,155 $683,545 Total Operating Budget $115,440 $64,600 $206,720 $543,505 $635,365 $658,155 $683,545 Exceptional Charges Transfer to Other Funds $1,000,000 $1,000,000 $0 $0 $0 $0 $0 Reimbursement to Infrastructure Fund 9,585 9,585 14,590 15,028 15,479 15,479 15,479 Total Exceptional Charges $1,009,585 $1,009,585 $14,590 $15,028 $15,479 $15,479 $15,479 Capital Improvement Program (See Schedule) $129,310 $0 $54,675 $289,000 $264,930 $244,765 $299,000 Total Budget $1,254,335 $1,074,185 $275,985 $847,533 $915,774 $918,399 $998,024 77 VILLAGE OF OAK BROOK, ILLINOIS Capital and Debt Budgeted Capital Requests Fiscal Year 2020 Equipment Replacement Fund 78 2019 2019 2020 2021 2022 2023 2024 Total Project Name Budget Projected Budget Projection Projection Projection Projection 2020-2024 Fire and EMS Vehicles $ - $ - $ - $ 289,000 $ - $ - $ 299,000 $ 588,000 Public Works Vehicles 129,310 - 54,675 - 264,930 244,765 - 564,370 Total Program 342 $ 129,310 $ - $ 54,675 $ 289,000 $ 264,930 $ 244,765 $ 299,000 $ 1,152,370 Total Equipment Replacement Fund $ 129,310 $ - $ 54,675 $ 289,000 $ 264,930 $ 244,765 $ 299,000 $ 1,152,370 78