Submitted By
Steven Drazner, Finance Department
Reviewed By
LKS
Agenda Item Title
Title
An Ordinance Adopting the Budget for All Corporate Purposes of the Village of Oak Park, Cook County, Illinois in Lieu of the Appropriation Ordinance for the Fiscal Year Commencing on the First Day of January, 2017 and Ending on the Thirty-First Day of December, 2017
End
Overview
Overview
Public hearings and meetings on the Truth in Taxation and the proposed 2017 Budget were held on November 2, 2016 and November 21, 2016, respectively. Pursuant to the Village Code, adequate public notices including the publishing and posting of legal notices and copies of the budget have been made available to the public. This item is the final action for adoption of the FY17 Budget. In addition, the Finance Committee of the Village Board and the Village Board held various meetings on the proposed budget.
Body
Staff Recommendation
Approve the Ordinance.
Fiscal Impact
The Ordinance appropriates the Fiscal Year 2017 Budget.
Background
The final document presented as the FY17 Budget includes numerous schedules, narratives, graphs, and detailed financial information which provides legal authority for Village spending in fiscal year 2017. As in prior years, budget amendments may be brought forth for Board approval on a quarterly basis to adjust certain accounts as deemed necessary.
Alternatives
The Village Board is required to adopt the FY17 Budget prior to December 31, 2016.
Previous Board Action
The Village Board approved the FY16 Budget at its meeting on December 7, 2015.
Citizen Advisory Commission Action
N/A.
Anticipated Future Actions/Commitments
N/A.
Intergovernmental Cooperation Opportunities
N/A.
Performance Management (MAP) Alignment
N/A