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TO: Mayor Robert J. O'Connor
FROM: Brian W. Caputo, Chief Financial Officer/City Treasurer
DATE: November 18, 2016
SUBJECT:
An Ordinance Adopting an Annual Budget for the Fiscal Year Beginning January 1, 2017 and Ending December 31, 2017 in Lieu of Passage of an Appropriation Ordinance.
PURPOSE:
To obtain the City Council's approval of the attached ordinance that would, in turn, provide for the approval of the proposed 2017 City Budget.
BACKGROUND:
In Illinois, municipalities may conduct their financial operations under one of two alternative frameworks: an appropriations process (65 ILCS 5/8-2-9) or a budget process (65 ILCS 5/8-2-9.1 through 9.9). On November 9, 1999, the City Council approved Ordinance No. O99-096 that placed the city on the budget system of finance in lieu of the appropriations system beginning with the 2000 fiscal year.
DISCUSSION:
The Mayor released his proposed 2017 City Budget on October 31, 2016. The Finance Committee will have met seven times during November to review the document. Representatives from city departments have appeared before the Finance Committee to provide additional information on specific items of interest in the proposed 2017 City Budget.
Since the initial version of the proposed 2017 City Budget was released, the Finance Department has made a number of changes into the document at the request of the Finance Committee, the Mayor's Office, and/or department heads. These changes are detailed in the schedule that is the second attachment to this memorandum. The third attachment to this memorandum details a number of carryovers from the 2016 budget to the 2017 budget that the department heads have requested.
Also attached to this memorandum is a "Budget Preparation Worksheet for Fiscal Year 2017." This document constitutes the currently proposed 2017 City Budget. The amounts in the 2017 Budget Preparation Worksheet reflect the amounts included in the initially proposed budget and the revisions detaile...
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