Ordinance 2011-58 STATE OF ILLINOIS
COUNTY OF KENDALL
STATE OF ILLINOIS ) - FILED -
ss NOV 8 2041
COUNTY OF KENDALL )
COUNiY CLERK
✓�XX KENDALL coUNiY
ORDINANCE NO. 2 011-
ORDINANCE APPROVING THE REVISION OF THE 2011-2012
FISCAL YEAR BUDGET FOR THE UNITED CITY OF YORKVILLE
REGARDING THE DOWNTOWN TIF FUND
WHEREAS, the Mayor and City Council of the UNITED CITY OF YORKVILLE,
through its committee system have duly considered revision of the budget for the 2011-
2012 Fiscal Year Budget regarding the Downtown TIF Fund; and
WHEREAS, the Mayor and City Council of the UNITED CITY OF YORKVILLE
deem it in the best interest of the City for the orderly operation thereof to pass and
approve the revised 2011-2012 Fiscal Year Budget regarding the Downtown TIF Fund
being submitted on October 25, 2011 at its regular City Council meeting:
NOW, THEREFORE, BE IT ORDAINED, by the Mayor and City Council of the
United City of Yorkville, Kendall County, Illinois that the revision of the 2011-2012
Fiscal Budget regarding the Downtown TIF Fund, as attached, is hereby adopted for the
2011-2012 Fiscal Year.
Passed by the City Council of the U ited City of Yorkville, Kendall County,
Illinois this day of ��' , A.D. 2011.
CITY CLERK
ROSE ANN SPEARS_ DIANE TEELING
GEORGE GILSON JR. JACKIE MILSCHEWSKI
CARLO COLOSIMO �_ MARTY MUNNS
CHRIS FUNKHOUSER LARRY KOT
Approved by me, as Mayor of the United City of Yorkville, Kendall County,
Illinois, this day of vV m�E , A.D. 2011.
L �'Ila f _.
MAYOR
Downtown TIF Fund(88)
The Downtown TIF was created in 2006,in order to finance a mixed use development in the downtown area.
FY 2011
FY2009 FY2010 Adopted FY2011 FY2012 FY2013 FY2014
Actual Actual Budget Projection Adopted* Projected Projected
Revenue
Taxes 71,588 88,550 88,550 75,362 88,550 88,550 88,550
Miscellaneous 3,551 - - - - - -
Total Revenue 75,139 88,550 88,550 75,362 88,550 88,550 88,550
Expenditures
Contractual Services 4,069 1,832 1,500 1.500 11,500 1,500 1,500
Capital Outlay 24,063 - - - 525,340 28,630 28,630
Other Financing Uses 25,805 - - - - - -
Total Expenditures 53,937 1,832 1,500 1,500 536,840 30,130 30,130
Surplus(Deficit) 21,203 86,719 87,050 73,862 (448,290) 58,420 58,420
Ending Fund Balance 49,575 136,294 136,625 210.156 (238,134) (179,714) (121,294)
N
$300 Fund Balance
C $200
3 $100
$0
($100)
($200)
($300)
Amended Budget
United City of Yorkville
Downtown TIF Fund
88
DOWNTOWN TIF FUND REVENUE
Fl 2009 Fl 2010 FY 2011 FY 2011 F1 2012 F1'2013 FY 2014
Account Description Actual Actual Budget Projected Adopted Projected Projected
Taxes
88-00040-004088 PROPERTY TAXES-DOWNTOWN TIF 71,588 88,550 88,550 75,362 88.550 88,550 88,550
Total: Taxes $71,588 $88,550 $88,550 $75,362 $88,550 $88,550 $88,550
Miscellaneous
88-00048-004850 MISCELLANEOUS INCOME 3.551 - - - - - -
Total: Miscellaneous $3,551 $0 $0 $o $0 $0 $0
Total: DOWNTOWN TIF REVENUE $75,139 $88,550 $88,550 $75,362 $88,550 $88550 SKSM
United City of Yorkville
Downtown TIF Fund
880
DOWNTOWN TIF FUND EXPENDITURES
Fl 2009 FY 2010 FY 2011 FY 2011 FY 2012 F,2013 Fl`2014
Account Description Actual Actual Budget Projected Adopted" Projected Projected
Contractual Services
88-880-54-00-5420 ADMINISTRATIVE FEES 532 1,832 1,500 1,500 1,500 1.500 1,500
88-880-54-00-5462 PROFESSIONAL SERVICES 3.53? - - - - -
88-880-54-00-5466 LEGAL SERVICES - - - - 10,000 - -
Total: Contractual Services 54,1169 51,832 $1,500 $1,500 $11,500 $1,500 $1,500
Capital Outlay
88-880-60-00-6000 PROJECT COSTS - - - - 10,000 - -
88-880-60-00-6040 IN-TOWN ROAD PROGRAM 24,063 - - - - - -
88-880-60-00-6079 ROUTE 47 EXPANSION - - - - 515,340 23.630 28.630
Total: Capital Outlay $24,063 $o $0 $o $525,340 $28,630 $28,630
Other Financing Uses
88-880-99-00-9901 TRANSFER TO GENERAL 25,805 - - - - - -
Total: Other Financing Uses $25,805 $0 $0 $0 $0 $0 $0
Total: DOWNTOWN TIF EXPENDITURES $53,937 $1,832 $1.500 $1,500 $536,840 $30.130 $30,130
•Amended Budget