Title
Resolution authorizing an emergency appropriation in the amount of $55,000 for services in Special Service Area Number 17 (SSA #17), Ivanhoe Estates.
Staff Summary
• Special Service Area #17 was established to fund the repair, reconstruction and maintenance of private streets within the Ivanhoe Estates residential community.
• The amount budgeted in the fiscal year (FY) 2020 budget was $56,640 for expenses, an amount equal to the levied property tax revenue for FY2020. However, repairs approved by the residential community require additional funding in the amount of $55,000.
• A fund balance exists in an amount of $138,427 at the end of FY2019 and $23,512 in property tax revenue has been received year to date with no expenses. Therefore, there are sufficient funds for the road repairs.
• This resolution appropriates funds in Fund 290 SSA #17 for payment of FY 2020 contractual services for the additional amount of $55,000.
Body
R E S O L U T I O N
WHEREAS, the Lake County Board appropriates funds for payment of contractual services for Special Service Area Number 17, Ivanhoe Estates; and
WHEREAS, the Fiscal Year (FY) 2020 Budget did not include the full amount necessary for the services approved by the Ivanhoe Estates residential community during FY 2020; and
WHEREAS, sufficient property tax revenue and fund balance exist to offset the payment of these services for 2020; and
WHEREAS, an emergency appropriation in an amount of $55,000 is necessary for FY 2020 to provide for payment of contractual services provided.
NOW, THEREFORE, BE IT RESOLVED, by this Lake County Board, that an emergency appropriation in the amount of $55,000 is hereby authorized in the FY 2020 budget in SSA#17, 290-1115010-79950 (Miscellaneous Contractual Services).
DATED at Waukegan, Illinois, on July14, 2020.