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HomeMy Public PortalAbout1999 Comprehensive Annual Financial ReportI I I I I VILLAGE OF GLEN-VIEW, ILLINOIS COMPREHENSIVE ANNUAL FINANCIAL REPORT YEAR ENDED DECEMBER 31, 1999 Prepared by Finance Depa~'tment Daniel P. Wiersma Director of Finance Linda Ogawa Assistant Director of Finance I I I VILLAGE OF GLEN-VIEW, ILLINOIS Comprehensive Annual Financial Report Table of Contents December 31, 1999 INTRODUCTORY SECTION Principal Officials Organization Chart Certificate of Achievement for Excellence in Financial Reporting Director of Finance's Letter of Transmittal FINANCIAL SECTION REPORT OF INDEPENDENT AUDITORS GENERAL PURPOSE FINANCIAL STATEMENTS All Fund Types and Account Groups and Discretely Presented Component Unit Combined Balance Sheet Ail Governmental and Fiduciary (Expendable Trust) Fund Types and Discretely Presented Component Unit Combined Statement of Revenues, Expenditures, and Changes in Fund Balances All Governmental Fund Types Combined Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual All Proprietary Fund Types Combined Statement of Revenues, Expenses, and Changes in Retained Earnings All Pension Trust Funds Combined Statement of Changes in Plan Net Assets Ali Proprietary Fund Types Combined Statement of Cash Flows Notes to Financial Statements PAGE i iii 1-2 4 5 6 8 9 - 42 VILLAGE OF GLENVIEIW, ILLINOIS Comprehensive Annual Financial Report Table of Contents December 31, 1999 I I I FINANCIAL SECTION (CONT.) REQUIRED SUPPLEMENTARY INFORMATION Analysis of Funding Progress Illinois Municipal Retirement Fund Police Pension Fund Firefighters' Pension Fund Employer Contributions Illinois Municipal Retirement Fund Police Pension Fund Firefighters' Pension Fund COMBINING, INDIVIDUAL FUND~ AND ACCOUNT GROUP STATEMENTS AND SCHEDULES GOVERNMENTAL FUND TYPES GENERAL FUND General Fund Balance Sheet Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Schedule of Revenues - Budget and Actual Schedule of Expenditures - Budget and Actual SPECIAL REVENUE FUNDS All Funds Combining Balance Sheet Combining Statement of Revenues, Expenditures, and Changes in Fund Balances PAGE 43 45 46 47 48 49 50 51 - 52 53 - 67 68 69 I I I I I I I I I I I I I I I I I I VILLAGE OF GLENVIEW, ILLINOIS Comprehensive Annual Financial Report Table of Contents December 31, 1999 I I I FINANCIAL SECTION (CONT.) GOVERNMENTAL FUND TYPES (CONT.) SPECIAL REVENUE FUNDS (CONT.) Illinois Municipal Retirement Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Motor Fuel Tax Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Refuse and Recycling Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 911 Communications Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual GNAS Redevelopment Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Schedule of Expenditures - Budget and Actual Administration Department GNAS Caretaker Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Schedule of Expenditures - Budget and Actual PAGE 70 71 72 73 74 75- 76 77 78 - 80 VILLAGE OF GLENVIEW, ILLINOIS Comprehensive Annual Financial Report Table of Contents December 31, 1999 I I I FINANCIAL SECTION (CONT.) GOVERNMENTAL FUND TYPES (CONT.) DEBT SERVICE FUNDS All Funds Combining Balance Sheet Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Combining Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual CAPITAL PROJECTS FUNDS All Funds Combining Balance Sheet Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Combining Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual PROPRIETARY FUND TYPES ENTERPRISE FUNDS All Funds Combining Balance Sheet Combining Statement of Revenues, Expenses, and Changes in Retained Earnings Combining Schedule of Changes in Contributed Capital Combining Statement of Cash Flows PAGE 81 82 83 84 86 - 87 88 89 90 91 I I I I I I I I I I I I I I I I I I VILLAGE OF GLENVIEIAt, ILLINOIS Comprehensive Annual Financial Report Table of Contents December 31, 1999 FINANCIAL SECTION (CONT.) PROPRIETARY FUND TYPES (CONT.) ENTERPRISE FUNDS (CONT.) Waterworks Fund Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual Schedule of Operating Expenses - Budget and Actual Schedule of Fixed Assets and Depreciation Wholesale Water Fund Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual Schedule of Operating Expenses - Budget and Actual Schedule of Fixed Assets and Depreciation North Maine Water and Sewer Fund Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual Schedule of Operating Expenses - Budget and Actual Schedule of Fixed Assets and Depreciation Sewerage Fund Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual Schedule of Operating Expenses - Budget and Actual Schedule of Fixed Assets and Depreciation Commuter Parking Lot Fund Statement of Revenues, Expenses, and Changes in Retained Earrtings - Budget and Actual Schedule of Operating Expenses - Budget and Actual Schedule of Fixed Assets and Depreciation PAGE 92 93 - 95 96 97 98 99 100 101 - 102 103 104 105 - 106 107 108 109 110 VILLAGE OF GLENVIEW, ILLINOIS Comprehensive Annual Financial Report Table of Contents December 31, 1999 I I I FINANCIAL SECTION (CONT.) PROPRIETARY FUND TYPES (CONT.) INTERNAL SERVICE FUNDS AllFunds Combining Balance Sheet Combining Statement of Revenues, Expenses, and Changes in Retained Earnings Combining Statement of Cash Flows Municipal Equipment Repair Fund Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual Schedule of Operating Expenses - Budget and Actual Insurance Fund Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual FIDUCIARY FUND TYPES TRUST AND AGENCY FUNDS All Funds Combining Balance Sheet Combining Statement of Plan Net Assets Combining Statement of Revenues, Expenditures, and Changes in Fund Balances (Expendable Trust Funds) Combining Statement of Changes in Plan Net Assets (Pension Trust Funds) PAGE 111 112 113 114 115 116 117 118 119 120 I I I I I I I I I I I I I I I I I I VILLAGE OF GLENVIEW, ILLINOIS Comprehensive Annual Financial Report Table of Contents December 31, 1999 FINANCIAL SECTION (CONT.) FIDUCIARY FUND TYPES (CONT.) TRUST AND AGENCY FUNDS (CONT.) Pension Trust Funds Police Pension Fund Statement of Changes in Plan Net Assets - Budget and Actual Firefighters' Pension Fund Statement of Changes in Plan Net Assets - Budget and Actual Agency Funds Combining Statement of Changes in Assets and Liabilities ACCOUNT GROUPS GENERAL FIXED ASSETS ACCOUNT GROUP Schedule of General Fixed Assets - by Source Schedule of General Fixed Assets - by Function and Activity Schedule of Changes in General Fixed Assets - by Function and Activity GENERAL LONG-TERM DEBT ACCOUNT GROUP Schedule of General Long-Term Debt COMPONENT UNIT Library Fund Combining Balance Sheet Combining Statement of Revenues, Expenditures, and Changes in Fund Balance Schedule of Operating Expenditures - Budget and Actual Schedule of General Fixed Assets PAGE 121 122 123 124 125 126 127 128 129 130 131 VILLAGE OF GLENVIEW, ILLINOIS Comprehensive Annual Financial Report Table of Contents December 31, 1999 I I I FINANCIAL SECTION (CONT.) SUPPLEMENTAL DATA Combined Schedule of Cash and Investments Schedule of Insurance in Force Long-Term Debt Requirements Corporate Purpose Bond Series of 1992 Corporate Purpose Bond Series of 1993 Corporate Purpose Bond Series of 1994 Corporate Purpose Bond Series of 1995 Corporate Purpose Bond Series of 1996 Corporate Purpose Bond Series of 1997 Corporate Purpose Notes of 1997 General Obligation Bond Series of 1998A General Obligation Bond Series of 1998B PAGE 132 133 134 135 136 137 138 139 140 141 142 I I I I I I I I I I I I I I I I I I VILLAGE OF GLENVIEW, ILLINOIS Comprehensive Annual Financial Report Table of Contents December 31, 1999 I I I I I I I I I I I I I I STATISTICAL SECTION General Governmental Revenues by Source - Last Ten Fiscal Years General Governmental Expenditures by Function - Last Ten Fiscal Years Property Tax Assessed Valuations, Rates, Extensions, and Collections - Last Ten Fiscal Years Assessed and Estimated Actual Value of Taxable Property - Last Ten Fiscal Years Property Tax Rates - Direct and Overlapping Governments - Last Ten Fiscal Years Ratio of Net General Obligation Bonded Debt to Assessed Value and Net General Obligation Bonded Debt Per Capita - Last Ten Fiscal Years Schedule of Legal Debt Margin Ratio of Annual Debt Service Expenditures for General Obligation Debt to Total General Governmental Expenditures - Last Ten Fiscal Years Schedule of Revenue Bond Coverage - Last Ten Fiscal Years Demographic Statistics - Last Ten Fiscal Years Construction Value, Building Permits, and Bank Deposits - Last Ten Fiscal years Miscellaneous Statistics Ten Wealthiest Illinois Communities - 1990 Census Major Corporate Fund Revenue Sources PAGE 143 144 145 146 147 148 149 150 151 152 153 154- 156 157 158 VILLAGE OF GLENVIEW, ILLINOIS Comprehensive Annual Financial Report Table of Contents December 31, 1999 I I I STATISTICAL SECTION (CONT.) ADDITIONAL DISCLOSURES REQUIRED BY SEC RULE 15c2-12 Statement of Indebtedness (as of December 31, 1999) Retirement Schedule of Outstanding Village General Obligation Debt Debt Ratios and Per Capita Debt - Last Ten Bond Sales Detailed Overlapping Bonded Indebtedness Payable from Property Taxes at December 31, 1999 Equalized Assessed Valuation for Taxing Purposes Tax Rates Per $100 Equalized Assessed Valuation Tax Extensions and Collections (Village Purposes Only) 1993 and 1998 Tax Base Distribution by Property Classification Ten Largest Taxpayers General Fund Summary Statement of Revenues, Expenditures, and Changes In Fund Balance (1995 - 1999) and 2000 Budget Balance Sheets (1995 - 1999) Combined Statement - Ail Funds Fund Balances 1995-1998 and Summary 1999 Revenues, Excess Revenues, and Fund Balances Fixed Assets at December 31,1999 PAGE 159 159 160 160 161 161 162 162 162 163 163 164-165 165 I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I Lawrence R. Carlson Rachel Cook John D. Crawford VILLAGE OF GLEN'VIE-W, ILLINOIS Principal Officials December 31, 1999 LEGISLATIVE Village Board of Trustees Nancy L. Firfer, President Kent B. Fuller Donna Pappo John W. Patton, Jr. Paul T. McCarthy Village Clerk/Treasurer EXECUTIVE Paul T. McCarthy, Village Manager FINANCE DEPARTMENT Daniel P. Wiersma, Director of Finance I I I I I I Z < < 0 I J_:i_ I I I I I I I I I I I I I I I I i I I Certificate of Achievement for Excellence in Financial Reporting Presented to Village of Glenview, Illinois For its Comprehensive Annual Financial Report for the Fiscal Year Ended December 31, 1998 A Certificate of Achievement for Excellence in Financial Reporting is presented by the Government Finance Officers Association of the United States and Canada to government units and public employee retirement systems whose comprehensive annual financial reports (CAFRs) achieve the highest standards in government accounting and financial reporting. Executive Director iii ' Gl fiage;ciew ! I June 22, 2000 1 1 I Honorable President and Members of the Board of Trustees Citizens of the Village of Glenview I I I I I I I I I The comprehensive annual financial report of the Village of Glenview (the "Village") for the year ended December 31, 1999 is submitted herewith. This report represents a comprehensive picture of the Village's financial activities during 1999 and the f'mancial condition of its various funds at December 31, 1999. Although formally addressed to the elected officials and citizens of Glenview, this financial report has numerous other users. Foremost among the other users are the bondholders of the Village, fmancial institutions, educational institutions and other governmental entities. Responsibility for both the accuracy of the data presented as well as the completeness and fairness of the presentation, including all disclosures, rests with the Village. We believe the data, as presented, is accurate in all material respects; that it is presented in a manner designed to fairly set forth the financial position of the Village and the results of its operations as measured by the financial activity of its various funds; and that all disclosures necessary to enable the reader to gain the maximum understanding of the Village's financial affairs have been included. The comprehensive annual financial report is presented in three sections: introductory, financial and statistical. The introductory section includes this transmittal letter, the Village's organizational chart and a list of principal officials. The financial section includes the general purpose financial statements, and the combining, individual fund and account group financial statements and schedules, as well as the independent auditor's report on the financial statements and schedules. The statistical section includes selected financial and demographic information, generally presented on a multi-year basis, as well as all continuing disclosures required by Securities Exchange Commission Rule 15c2-12. -iv- 1225 Waukegan Road · Glenview, Illinois 60025 · (847) 724-1700 · (847) 724-4232 TDD I I I I The Reporting Entity and its Services The Village of Glenview was incorporated in 1899 and operates under the council/manager form of government. It is a home rule municipality as defined by the Illinois Constitution. Located approximately 20 miles north of the City of Chicago, in Cook County, the Village occupies a land area of approximately 13 square miles and has an estimated population of 38,437. The Village provides a full range of general governmental services. Specifically, the Village provides police and fire protection, health services, water and sewer utilities, construction and maintenance of streets, code enforcement, planning and zoning, library services, and general administrative services. The financial reporting entity of the Village of Glenview is comprised of all funds and account groups of the primary government (i.e., the Village of Glenview as legally defined) and its pension trust funds: the Glenview Police Pension Fund and the Glenview Firefighters' Pension Fund. These funds were determined to be pension trust funds due to their fiduciary and fiscal relationships with the Village as their sole purpose is to provide retirement benefits to the Village's sworn police officers and firefighters. The Glenview Public Library is included as a discrete presentation since it is governed by a separately elected board of trustees. No other legally separate entity qualifies as a component unit of the Village. Economic Condition and Outlook There are several measures of economic health for local governments. Perhaps four of the more objective measures or indicators are local employment levels, retail sales activity, family income levels and construction activity. Employment levels in the Village have always surpassed that of Cook County and the State of Illinois as a whole. As of December 31, 1999 the Village's unemployment rate was 2.3%, compared to 4.5 % for Cook County and 4.3 % for the State of Illinois. Retail sales within the Village totaled $575 million for 1999. This represents an increase of $66 million, or 12.9%, from 1998. The Village expects retails sales to continue to grow as additional retail space, currently under construction, comes on line. Median family income figures from the 1990 Census show that the average income of Glenview residents far exceeds county and state averages. According to the Census Bureau, Glenview's 1990 median family income was $67,412, compared to $38,664 for the State and $35,225 for the United States. This ranked Glenview as the fifth wealthiest community in the State of Illinois amongst communities with populations over 25,000. (The Village also ranked fifth in terms of median household income and fourth in per capita income when compared to these same communities.) For many years, there was no substantial new commercial or residential construction activity as little vacant land was available for development. However, construction activity has increased dramatically as the 1,100 acre former Glenview Naval Air Station, ("The Glen") develops. Within the whole Village during 1999, there were 10 new commercial developments constructed, with a total value of $13 million and 132 new residential housing permits issued in 1999. Major Initiatives For the Year 1999 was another year of significant advances in the Village's efforts to redevelop The Glen. The Navy and the Village came to agreement on the Economic Development Conveyance of the Navy base in 1998 and in light of the land use plan, and the massive infrastructure improvements needed to achieve that plan, the Village will be acquiring the 1,100 acre base property for approximately $2.1 million. As of December 31, 1999, approximately 1,000 acres had been deeded to the Village. The remainder of the property is anticipated to be transferred to the Village once the Navy completes all required environmental clean-up, which is anticipated to occur by the end of 2000. In 1998 construction began on the phase one infrastructure improvements and design work for the second phase of infrastructure improvements was begun. In addition, the Village established a Tax Increment Financing District ("TIF") which encompasses The Glen. The TIF was created as a risk management tool to facilitate the redevelopment of the District. It is the Village's intent to close the District when the payment of the redevelopment has been accomplished. As a result of the extensive work to develop a database of 1,200 marketing contacts, RFP's were received from 57 developer groups on the parcels offered for development. Following extensive analysis, it was determined that all parcels received multiple bids from qualified developers. Negotiations were concluded with 4 developers resulting in the receipts of $85 million in land sales, plus pending contracts with 3 other developers. During 1999 the Village also established the Village Permanent Fund. The Village transfers 20% of the Land Sales proceeds into this fund. This fund is intended to be used in the future for Village wide improvements and in the near term to provide liquidity to the TIF project. The Village of Glenview has maintained an active role in the creation of the Northeastern Illinois Public Safety Training Academy (NIPSTA). NIPSTA is a planned multi-regional public safety training facility to be located on approximately twenty-five acres of The Glen. Currently, thirty- two local governments have agreed to participate in the feasibility stage, during which period a business plan and site plan will be developed. It is expected that a determination as to the viability of NIPSTA will occur in 2000. -vi - I I I I I I I I I I I I I I I I I I For the Future 2000 is expected to be an active year relative to the redevelopment of The Glen with approximately $65 million of infrastructure improvements scheduled. The Redevelopment staff has been refimng the submissions it has received from Developers and it is anticipated that the balance of the parcels will be sold in 2000 with construction beginning immediately thereafter. Financial Information Management of the Village is responsible for establishing and maintaining internal controls designed to ensure that the assets of the Village are protected from loss, theft or misuse, and to ensure that adequate accounting data is compiled to allow for the timely preparation of financial statements in conformity with generally accepted accounting principles. Internal controls are designed to provide reasonable, but not absolute, assurance that these objectives are met. The concept of reasonable assurance recognizes that: (1) the cost of a control should not exceed the benefits likely to be derived; and (2) the valuation of the costs and benefits requires estimates and judgements by management. Budgetary Control The objective of budgetary controls is to ensure compliance with legal provisions embodied in the annual budget adopted by the Village's governing body. The budget covers activities of the general, special revenue, debt service, enterprise, internal service and certain capital and fiduciary funds. All appropriations lapse at year end, but open purchase orders are usually re-budgeted for in the subsequent year. The level of budgetary control, that is, the level at which expenditures cannot exceed the budgeted amount, is established at the fund level. The Village maintains an encumbrance accounting system for the governmental and proprietary funds as one method of accomplishing budgetary controls. Encumbrances outstanding at year end, if any, are reported as a reservation of fund balance since they do not constitute expenditures or liabilities. General Government Functions The following table presents a summary of revenues available for general governmental functions (the General, Special Revenue, Debt Service Funds and component unit - Library Funds) for the year ended December 31, 1999 with comparisons to the previous year. Increase Percent 1999 Percent (Decrease) Increase Revenues Amount of Total From 1998 (Decrease) Property Taxes $10,328,077 29.74% ($157,618) (1.50%) O~er Taxes 4,418,466 12.72 (328,001) (6.91) Total Taxes 14,746,543 42.47 (485,619) (3.19) Licenses and Permits 1,233,680 3.55 (92,102) (6.95) Intergovermnental 13,452,225 38.74 713,746 5.60 Charges for Services 2,292,215 6.60 (669,212) (22.60) Fines and Forfeits 344,317 0.99 46,978 15.80 Interest Earnings 1,134,042 3.27 152,975 15.59 Miscellaneous 1,522,363 4.38 550,208 56.60 Total Revenues $34,725,385 100.00% $216,974 0.63% I ! I 1 I I I Total general governmental revenues for the year mounted to $34,725,385. This represents an increase of $216,974, or 0.63% over 1998. Property tax revenues for general governmental purposes are reflect a decrease of $157,618, or 1.50%. Other tax revenues totaled $4,418,466, representing a decrease of ($328,001) or (6.91%). The most significant components of Other Taxes are the Utility Tax, which amounted to $3,262,725, a decrease of 2.33%, and the Hotel tax, which at $803,135 was down 5.91%. The cause of the decrease in utility tax receipts is attributable to the fact that the areas' major electric utility was unable to generate actual bills for a period of many months and was instead making payments based on prior year averages. The utility remedied this problem and began issuing actual bills in January, 2000. Revenue from the sale of licenses and permits totaled $1,233,680, a decrease of ($92,102), or (6.95%) compared to 1998. Building permit revenue totaled $967,811, down from the 1998 record of $1,014,568, but still reflecting the strong building activity within the Village. Intergovernmental revenues increased $713,746 to $13,452,225, an increase of 5.60% over 1998. The largest single component of increase in this revenue category is Sales Tax which totaled $5,758,617, an increase of $666,260 or 13.08% over 1998. Income Tax, the next largest component, totaled $2,740,281, an increase of 2.79%. Other significant components of revenue in this category are payments from the Glenbrook Fire Protection District for fire protection and EMS service which totaled $2,123,992 and Motor Fuel Tax at $952,888. -viii- I I I I I I I I I I I I Charges for Services totaled $2,292,215, a decrease of 22.60 % compared to 1998. The largest componem of this revenue category is Engineering fees which dropped from $830,819 in 1998 to $382,103 in 1999. The cause for this significant decrease is attributable to the Engineering portion of the development and infrastructure work at The Glen having been largely completed. Interest earnings in those funds providing general governmental functions totaled $1,134,042, an increase of $152,975, or 15.59 %. Following is a breakdown of investment earnings by fund type: 1999 1998 Interest Interest Increase Fund Type Earnings Earnings (Decrease) General $478,582 $526,760 ($ 48,178) Special Revenue 75,044 92,163 (17,119) Debt Service 474,188 256,366 217,822 Library Component Unit 106,228 105,778 450 TOTAL $1,134,042 $981,067 $152,975 The decrease in interest earnings for the General Fund and Special Revenue Fund can be attributed to generally lower short term interest rates while the increase for the debt service funds can be attributed to the fact the Village issued $ I0 million of debt during the year, a portion of which was 3 years worth of capitalized interest which was invested to the appropriate payment dates. Miscellaneous revenues totaled $1,522,363 for 1999, an increase of $550,208 from 1998. Of the total, $531,593 is attributable to land sales (unrelated to The Glen). Following is a table showing expenditures by service area with comparisons to the previous year for the general, special revenue, debt service and component unit (Library) funds: Increase Percent 1999 Percent (Decrease) Increase Expenditures Amount of Total from 1998 (Decrease) General Government $ 9,338,895 15.96% ($ 331,018) (3.42%) Public Safety 12,608,278 21.55 451,661 3.72 Highways and Streets 5,764,447 9.85 1,375,199 31.33 Pensions 1,356,790 2.32 (83,271) (5.78) Culture and Recreation 3,227,873 5.52 18,925 (0.59) Debt Service 26,221,991 44.80 3,631,543 16.08 Total Expenditures $58,518,274 100.00% $5,063,039 9.47 % -ix- Total expenditures for general governmental functions in 1998 were $58,518,274, an increase of $5,063,039 or 9.47% over 1998. As explained further below, the primary cause of the increase in the governmental function expenditures can be attributed to increased debt service payments related to the redevelopment of The Glen. General governmental expenditures totaled $9,338,895, a decrease of $331,018 or 3.42%. The cause for this decrease is a reduction in contractual professional services of $665,155 in expenditures regarding The Glen Redevelopment Fund. The reduction is the result of the completion of design and engineering on the infrastructure with in the Glen. Expenditures in the Public Safety category increased $451,661 but reflected only a 3.72 % increase for the category. Expenditures in the highways and streets category totaled $5,764,447 in 1999, an increase of $1,375,199 over 1998. Approximately $300,000 of this increase was attributable to Snow and Ice removal costs. In January, 1999 the Chicago area received 18 inches of snow in 24 hours and Public Works crews supplemented with contractors worked around the clock to make roads passable. The balance of the increase in this category is a result of the $990,055 spent on road and storm water design at The Glen. This level on spending was $695,613 greater than in 1998.These projects were funded from federal grants. Debt service expenditures amounted to $26,221,991, compared to $22,590,448 in 1998. Of the total expenditures for 1999, $22.1 million was for the two bond issues related to the redevelopment of The Glen; the Series 1995 Bond Anticipation Bonds and the Series 1996 General Obligation Bonds. The final principal payment on the Series 1995 Bond Anticipation Bond issue amounted to $20.0 million, compared to $17.5 million in 1998. Unexpended bond proceeds within the capital project fund were used to make the principal payment. General Fund Balance The General Fund ended 1999 with an excess of revenues and other financing sources over expenditures and other financing uses of $1,530,490. This brought the undesignated fund balance to $12,147,437 at December 31, 1999, the equivalent of 49% of actual 1999 expenditures and transfers. Enterprise Operations The Village has five enterprise operations accounted for in its financial statements, those being the Waterworks Fund, the Wholesale Water Fund, the Sewerage Fund, the North Maine Water and Sewer Fund and the Commuter Parking Lot Fund. The Waterworks Fund recorded net income of $1,505,099 for the year ended December 31, 1999. The financial condition of the fund remains strong, with net working capital amounting to $5,957,504 and cash and investments totaling $3,746,928. I I I I I I I I I I I I I I I I I I The Wholesale Water Fund recorded a net loss of $43,825 for the year, resulting in working capital of $948,621. The North Maine Water and Sewer Fund recorded net income of $156,450 for 1999 resulting in working capital of $1,570,031. An aggressive meter replacement and leak detection program have been initiated to ensure that water loss within this recently acquired system is minimal. The Sewerage Fund recorded net income of $913,071 for 1999 resulting in working capital of $240,262. Finally, the Commuter Parking Lot Fund recorded net income of $66,519 for 1999 resulting in working capital of $136,001. Employee Pensions Police sworn personnel are covered by the Police Pension Fund and sworn firefighters are covered by the Firefighters' Pension Fund. Both of these plans are defined benefit, single-employer plans administered by local boards of trustees. The benefits and employer and employee contributions are governed by state statutes. During 1999, the Village retained the services of independent actuary to perform an actuarial valuation on the police and firefighter pension plans as of December 31, 1998. Following is summary information for the two funds: Police Firefighters' Pension Fund Pension Fund Actuarial Accrued Liability - 12/31/98 $24,277,701 $31,839,389 Value of Plan Assets - 12/31/98 $27,211,245 $37,887,879 Percent Funded - 12/31/98 112.1% 119.0% Change in Net Assets FYE 12/31/99 ($1,581,975) ($1,140,576) Value of Net Assets - 12/31/99 $25,629,270 $36,747,303 In 1993 the State of Illinois increased the benefits provided to police and firefighter pension fund beneficiaries. The changes increased the pension benefit obligation of both funds, but especially that of the police pension fund where a provision was made to compound annual increases in pension benefits. Municipalities have until the year 2033 to fully fund their police and firefighter pension plans. The decreased in asset value can be attributed to the net depreciation in fair value of investments in the Pension Trust Funds. The decrease was particularly reflective of the reduction in market value of the long term Treasury zero coupon Bonds held in both funds. The purpose of "marking to market" is to show the value of a fund at a given point in time. Practically however, as these funds do not have cash flow problems which would require liquidating positions, these losses are only for reporting purposes. -x± - All other employees of the Village who work at least 1,000 hours per year are covered by the Illinois Municipal Retirement Fund, a state-wide pension plan. IMRF acts as the administrative agent for local governments in Illinois. Benefit provisions and funding requirements are established by state statute. At December 31, 1999 the Village was 106.56% funded in IMRF. Debt Administration In 1998 Moody's Investors Service affirmed the Village's Aaa general obligation bond rating assigned in 1993. At December 31, 1999 the Village had $60,980,000 of general obligation bonds outstanding. Of this amount, $52,810,000 is reflected in the general long-term debt account group and $8,170,000 is recorded directly in three enterprise funds. There was also $2,697,270 of general obligation notes outstanding at December 31, 1999. On October 20, 1998 the Village issued $10,000,000 of general obligation bonds in conjunction with The Glen development. The proceeds of the issue, as well as proceeds remaining from the 1995 Bond Anticipation Bond issue, were transferred from the GNAS Bond Fund Series 1995 Capital Project Fund to the Series 1995 Bond Anticipation Bond Debt Service Fund to cover the scheduled $17,500,000 December 1, 1998 principal payment. A Series 1998B issue of $24,400,000 was offered the same day, but the Series B bonds were not issued until January 1999. The proceeds of Series B are being used for infrastructure construction at The Glen. At December 31, 1999 there was $3,651,914 available in the various debt service funds for the payment of principal and interest, resulting in a net bonded debt of $49,158,086. The ratio of net bonded debt to assessed value and the amount of net bonded debt per capita are useful indicators of a municipality's debt position. This data as of December 31, 1998 is as follows: Net General Obligation Debt $49,158,086 Ratio of Net Debt to Assessed Value 4.15 % Ratio of Net Debt to Actual Value 1.38% Net Debt Per Capita $1,279 Additional information about the Village's outstanding debt can be found in the notes to the financial statements and the statistical section of this report. Property Tax Information The county assessors' offices are responsible for determining the assessed value of real property utilizing market values and established assessment ratios in Illinois. The State of Illinois then assigns an equalization factor to each county in an attempt to get all properties in the state assessed at approximately 33 % of market value. Property taxes are based upon the equalized assessed value (EAV) of all taxable properties. A government's tax rate is determined by dividing its tax levy into its total EAV, adjusting for any rate limitations which might be applicable. -xii - I I I I I I I I I I I I I I I I I I At the time this report was prepared, information regarding the tax rates and assessed values for the 1999 tax levy year were not yet available. The Village's 1998 total equalized assessed valuation was $1,160,371,041, a 10.75% increase from the 1997 levy year. The Village's and the Library-component unit's combined tax rate decreased from $1.0253 for 1997 to $0.9251 for 1998, an decrease of 9.77%. Following is a summary of the Village's tax rates for the past three years: Fund 1998 1997 1996 General Fund $ .4092 $ .4572 $ .4221 Special Revenue Funds .0484 .0554 .0829 Debt Service Funds .1529 .1663 .1251 Pension Trust Funds .0462 .0555 .0561 Subtotal - Village .6567 .7254 .6862 Library .2684 .3036 .3028 Total Combined Tax Rate $.9251 $1.0380 $.9890 Additional information regarding the Village's tax rates, assessed values and tax collections can be found in the statistical section of this report. Cash Management The Village's policy regarding cash management is based upon the realization that there is a time value to money. A high priority is placed on procedures to ensure that monies due the Village are collected and deposited as promptly as possible. Disbursements are closely controlled. Of equal importance is the emphasis on the management of the Village's investment portfolio. All idle cash is invested in accordance with an established investment policy. The investment policy establishes safety of principal as the foremost objective. The policy provides for full collateralization of all deposits in excess of FDIC limits. The Village is not permitted to leverage its portfolio or invest in risky derivatives. All of the Village's Deposits and Investments are "Category 1" meaning that all Deposits are covered by federal depository insurance, or by collateral held by the Village, or its agent, in the Village's name and all Investments are insured or registered or are held by the Village, or its agent, in the Village's name. -xiii- Following is a summary of total investment earnings and weighted average yields for each of the various fund types: Investment Income Year Ended Fund Type 12/31/99 Average Yield General Fund $ 478,582 5.09% Special Revenue Funds 75,044 4.92 Debt Service Funds 331,973 5.41 Capital Project Funds 2,639,699 5.59 Enterprise Funds 240,646 4.77 Internal Service Funds 116,932 5.07 Expendable Trust Funds 205,708 4.56 Totals $4,088,584 5.13 % Risk Management The Village maintains a protected risk retention program for property, casualty, and workers compensation claims. Health insurance for employees and retirees is provided through a public entity risk pool. Aggregate umbrella liability coverage is provided through the Village's membership in the High-level Excess Liability Pool, another public entity risk pool. The Village's insurance activity is accounted for in an internal service fund. For the year ended December 31, 1999 the Insurance Fund reported net income of $439,813. Retained earnings at December 31, 1999 amounted to $3,847,080. Other Information Independent Audit State statutes require an annual audit by independent certified public accountants. The accounting firm of Crowe, Chizek and Company LLP performed the audit on the Village's 1999 financial statements. The independent auditors' report is included in the financial section of this report. The auditors have given this report an unqualified opinion, meaning that the financial statements fairly present the Village's financial position at December 31, 1999, and the results of operations for the year then ended. -xiv- I I I i ! I I I I I I I I ! I I I I 1 I I I i I The Village is required to undergo an annual single audit in conformity with the provisions of the Single Audit Act of 1984 and U.S. Office of Management and Budget Circular A-133, Audits of State, Local Governments and Non-Profit Organizations. Information related to this single audit, including the schedule of expenditures of federal awards, findings and recommendations, and auditors reports on the internal control and compliance with applicable laws, regulations, contracts and grants are included in a separately issued Single Audit Report. Awards The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the Village of Glenview for its comprehensive annual financial report (CAFR) for the fiscal year ended December 31, 1998. The Certificate of Achievement is a prestigious national award recognizing conformance with the highest standards for preparation of state and local government financial reports. In order to be awarded a Certificate of Achievement, a government must publish an easily readable and efficiently organized comprehensive annual financial report, whose contents conform to program standards. The CAFR must satisfy both generally accepted accounting principles and applicable legal requirements. A Certificate of Achievement is valid for a period of one year only. The Village of Glenview has received a Certificate of Achievement for the last seventeen consecutive years (fiscal years ended 1982-1998). We believe our current report continues to conform to the Certificate of Achievement program requirements, and will be submitting it to GFOA. Acknowledgments The preparation of the comprehensive annual financial report on a timely basis was made possible by the dedicated service of the entire staff of the Finance Department. Each member of the Department has my sincere appreciation for the contributions made in the preparation of this report. In addition, appreciation is expressed to the Village President and Board of Trustees and the Village Manager for their leadership and support in planning and conducting the fiscal affairs of the Village in a responsible and progressive manner. Director of Finance - XV - REPORT OF INDEPENDENT AUDITORS I I I I I I I I I I I I I I CROWE CHIZEK REPORT OF INDEPENDENT AUDITORS The Honorable Village President Members of the Board of Trustees Village of Glenview, Illinois We have audited the accompanying general purpose financial statements and the combining, individual fund, and account group financial statements of the Village of Glenview, Illinois, as of and for the year ended December 31, 1999, as listed in the accompanying table of contents, and the general fund balance sheet as of December 31, 1998, and the related statement of revenues, expenditures, and changes in fund balance for the year ended December 31, 1998. These financial statements are the responsibility of the Village of Glenview, Illinois' management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, the general purpose financial statements referred to above present fairly, in all material respects, the financial position of the Village of Glenview, Illinois, as of December 31, 1999, and the results of its operations and the cash flows of its proprietary fund types for the year then ended in conformity with generally accepted accounting principles. Also, in our opinion, the combining, individual fund, and account group financial statements referred to above present fairly, in all material respects, the financial position of each of the individual funds and account groups of the Village of Glenview, Illinois, as of December 31, 1999, and the results of operations of such funds and the cash flows of individual proprietary funds for the year then ended and the financial position of the General Fund as of December 31, 1998, and the results of operations of the General Fund for the year then ended, in conformity with generally accepted accounting principles. 1 Our audit was made for the purpose of forming an opinion on the general purpose financial statements taken as a whole and on the combining, individual fund, and account group financial statements. The accompanying financial information listed as supplemental and schedules in the accompanying table of contents and the analysis of funding progress and employer contribution information on pages 43 to 48 is presented for purposes of additional analysis and is not a requi~ed part of the financial statements of the Village of Glenview, Illinois. Such information has been subjected to the auditing procedures applied in the audits of the general purpose, combining, individual fund, and account group financial statements and, in our opinion, is fairly presented in all material respects in relation to the general purpose financial statements and each of the combining, individual fund, and account group financial statements taken as a whole. The introductory and statistical information listed in the table of contents was not audited by us, and accordingly, we do not express an opinion thereon. Crowe, Chizek and Compaliy LLP Oak Brook, Illinois April 14, 2000 I I I VILLAGE OF GLENVIE%V, ILLINOIS All Fund Types and Account Groups and Discretely Presented Component Unit Combined Balance Sheet December 31, 1999 (See Following Page) I I I I I I I I I I I I I ! I I I I I I I I I I I I ! I I I I I I I I I I I I OO 0 I I I I I ! I I I I I I I I I I I I I I I I I I I / ~:~ I I ~ I I I 0 0 O ~ VILLAGE OF GLENVIEW, ILLINOIS All Proprietary Fund Types Combined Statement of Revenues, Expenses, and Changes in Retained Earnings Year Ended December 31, 1999 (with comparative totals for 1998) I I I I Charges for services Miscellaneous Total operating revenues Operating expenses Administration Operations Depreciation and amortization Total operatmg expenses Operating income Nonoperating revenues (expenses) Interest income Interest expense and fiscal charges Income before operating transfers Operating transfers (out) Retained earnings January 1 December 31 Proprietary Fund Types Internal Enterprise Service Totals (Memorandum Ooly) 1999 1998 14,231,632 $ 3,616,197 $ 17,847,829 $ 17,283,639 229,528 340,237 569,765 664,128 14,461,160 3,956,434 18,417,594 17,947,767 664,600 664,600 778,042 8,246,100 3,383,552 11,629,652 12,136,472 983,138 983,138 851,738 9,893,838 3,383,552 13,277,390 I3,766,252 4,567,322 572,882 5,140,204 4,181,515 240,646 116,932 357,578 357,787 (606,320) (606,320) (636,179) (365,674) 116,932 1248,742) (278,392) 4,201,648 689,814 4,891,462 3,903,123 1,070,783 1,070,783 670,000 (2,675,117) (67,193) (2,742,310) (2,691,380) (1,604,334) (67,193) (1,671,527) (2,021,380) 2,597,314 622,621 3,219,935 1,881,743 18,763,520 3,368,913 22,132,433 20,250,690 $ 21,360,834 $ 3,991,534 $ 25,352,368 $ 22,132,433 I I I I I I I I I I I I I See accompanying notes to financial statements. 6 I I I I I VILLAGE OF GLENVIE3,V, ILLINOIS All Pension Trust Funds Combined Statement of Changes in Plan Net Assets Year Ended December 31, 1999 (with comparative totals for 1998) Additions Contributions - employer Taxes Contributions - plan members Investment income Net appreciation (depreciation) in fair value of investments Interest earned on investments Total additions Deductions Pensions and refunds Miscellaneous Contractual professional services Total deductions Net increase (decrease) Net assets held in trust for pension benefits January 1 December 31 Police Firefighters' Totals Pension Pension 1999 1998 $ 387,208 $ 157,476 $ 544,684 $ 613,170 360,809 372,489 733,298 721,343 (1,562,740) (1,237,185) (2,799,925) 3,949,064 14,257 530,838 545,095 3,431,044 (800,466) (176,382) (976,848) 8,714,621 776,223 959,779 1,736,002 1,656,094 5,287 4,415 9,702 15,064 781,510 964,194 1,745,704 1,671,158 (1,581,976) (1,140,576) (2,722,552) 7,043,463 27,211,246 37,887,879 65,09%125 58,055,662 25,629,270 $ 36,747,303 $ 62,376,573 $ 65,099,125 See accompanying notes to financial statements. 7 VILLAGE OF GLENVIEW, ILLINOIS All Proprietary Fund Types Combined Statement of Cash Flows Year Ended December 31, 1999 (with comparative totals for 1998) I I I Cash flow~ from operating activities Operating income Adjustments to reconcile operating income to net cash prov/decl by operating act/v/ties Depreciation and amortization Cash flows from noncapital linancing activities Operalmg tra-ns fer s in Operating transfers (out) Cash flows from capital and related financing activities Fixed asse~s purchased Capital grant Decrease in deferred issuance cc~ts Decrease in deferred acquisition costs Principal paid on general obligation bonds Principal paid on note payable Interest paid on general obligation bonds Cash flows from investing activities P~chase of investmenis Net increase (decrease) m cash and cash equivalenis Cash and cash equivalents January 1 December 31 Enterprise $ 4,567,322 $ 572,882 Totals Internal /Memorandum Only) Service 199~9 199~8 $ 5.140,204 $ 4.181,515 983,138 983,138 851,738 (600,973) (4,783) (605,758) (204,849) (60,469) (60,469) 35,370 35,370 (215,543) 1,561 (105.800) 004,239) 121,407 23,958 23.958 2,938 (2,362) 220~260 217,898 (220,260) (322.798) (91,203) (414,001) (491,352) (2,628) (2.628) 03,555) (15.555) 66,413 (200,000) (200,000) 200.000 12,253 12.253 (47,687) 641,440 (157,443) 483,997 1,011,916 (6S.186) (68,186) 17.923 5,068.984 357,887 5.426,871 5,280.928 1,070,783 1,070,783 670,000 (2.675,117) f67,193) (2,742,310) (2,691e380) (1.604,334) (67`193) (1,671,527) (2,021,380) (2,043,901) (2,043,901) (382,920) 200,000 200,000 1,401 1,401 701 44,675 44,675 44,676 (614,150) (614.150) (560,500) (78,207) (78,207) (74,523) (604.720) (604,720) (727,136) (3,094.902) (3,094.9/)2) (1,699,702) (3,540,004) (1,174,989) (4,714.993) (3,577,447) 208,043 240,785 87,265 328,050 352,139 (3,299.219) (1,087,724) (4,386,943) (3.017,265) (2,929,471) (797,030) (3,726,501) (1.457,419) 3,816,375 1,181.093 4.997,468 6.454,887 $ 886,904 $ 384,063 $ 1,270.967 $ 4,997,4~ I I I I I I i I I I I I I I See accompanying notes to firtancial statements. 8 I I ! I VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1999 I I I NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The financial statements of the Village of Glenview, Illinois (Government) have been prepared in conformity with generally accepted accounting principles (GAAP) as applied to government units. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for establishing governmental accounting and financial reporting principles. The more significant of the Government's accounting pohcies are described below. Reporting Entity: The Government is a municipal corporation governed by an elected seven- member board. As required by generally accepted accounting principles, these financial statements present the Government (the primary government) and its component units. The Government's financial statements include pension trust funds: Police Pension Employees Retirement System The Government's police employees participate in the Police Pension Employees Retirement System (PPERS). PPERS functions for the benefit of these employees and is governed by a five-member pension board. Two members appointed by the Government's President, one elected pension beneficiary, and two elected police employees constitute the pension board. The Government and PPERS participants are obhgated to fund all PPERS costs based upon actuarial valuations. The State of Illinois is authorized to establish benefit levels and the Government is authorized to approve the actuarial assumptions used in the determination of contribution levels. Although it possesses many of the characteristics of a legally separate government, the PPERS is reported as if it were part of the primary government because its sole purpose is to finance and administer the pensions of the Government's pohce employees, and because of the fiduciary nature of such activities. The PPERS is reported as a pension trust fund. Firefighters' Pension Employees Retirement System The Government's firefighters participate in the Firefighters' Pension Employees Retirement System (FPERS). FPERS functions for the benefit of these employees and is governed by a nine-member pension board. The Government's President, Treasurer, Clerk, Attorney, and Fire Chief, one elected pension beneficiary, and three elected fire employees constitute the pension board. The Government and FPERS participants are obligated to fund all FPERS costs based upon actuarial valuations. The State of Ilhnois is authorized to establish benefit levels and the Government is authorized to approve the actuarial assumptions used in the determination of contribution levels. Although it possesses many of the characteristics of a legally separate government, the FPERS is reported as if it were part of the primary government because its sole purpose is to finance and administer the pensions of the Government's firefighters and because of the fiduciary nature of such activities. The FPERS is reported as a pension trust fund. (Continued) 9 VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1999 I I NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Reporting Entity: (Continued) Discretely Presented Component Unit: Village of Glenview Public Library (Library) The Glenview Public Library has a separately elected seven-member board which annually determines its budget and resulting tax levy. Upon approval of the Government, the levy is submitted to the County. Ail debt of the Library is secured by the full faith and credit of the Government which is wholly liable for the debt. The Library, while servicing the general population of the Government, does not provide services entirely to the Government. Because the Library possesses the characteristics of a legally separate government and does not service the primary government, the Library is being reported as a discrete presentation. Separate financial statements are disclosed in the component unit portion of this report; the Library does not issue separate financial statements. Joint Ventures: Regional Emergency Dispatch Center (R.E.D.) R.E.D. is a joint venture used to account for the resources involved in dispatching fire and medical emergency services to a me-community area. Management consists of a Board of Directors comprised of one elected trustee from each member jurisdiction. Day to day operations are administered by the Fire Chiefs of each member jurisdiction. The Government does not exercise any control over the activities of the Agency beyond its representation on the Board of Directors. R.E.D. is reported as a governmental joint venture. Additional required disclosures may be found in the Commitments, Contingent Liabilities, and Joint Ventures notes to financial statements. Solid Waste Agency of Northern Cook County (SWANCC) The Government is a participant with twenty-two other municipalities in a joint venture. SWANCC is a municipal corporation empowered to plan, finance, construct, and operate a solid waste disposal system to serve its member municipalities. Management consists of a Board of Directors comprised of one appointed representative from each member. The Government does not exercise any control over the activities of the Agency beyond its representation on the Board of Directors. On dissolution of the Agency, the net assets of SWANCC will be shared proportionately by its members. SWANCC is reported as a proprietary joint venture. I I I I I I I I I I I I I I I (Continued) 10 I I ! ! VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1999 ! ! NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Fund Accounting: The Government uses funds and account groups to report on its financial position, results of its operations, and cash flows. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain government functions or activities. A fund is a separate accounting entity with a self-balancing set of accounts. An account group, on the other hand, is a financial reporting device designed to provide accountability for certain assets and liabilities that are not recorded in the funds because they do not directly affect net expendable available financial resources. Funds are classified into the following categories: governmental, proprietary, and fiduciary. Each category, in turn, is divided into separate "fund types." Governmental funds are used to account for all or most of a governments general activities, including the collection and disbursement of earmarked monies (special revenue funds), the acquisition or construction of general fixed assets (capital projects funds), and the servicing of general long-term debt (debt service funds). The general fund is used to account for all activities of the general government not accounted for in some other fund. Proprietary funds are used to account for activities similar to those found in the private sector, where the determination of net income is necessary or useful to sound financial administration. Goods or services from such activities can be provided either to outside parties (enterprise funds) or to other departments or agencies primarily within the Government (internal service funds). Fiduciary funds are used to account for assets held on behalf of outside parties, including other governments, or on behalf of other funds within the Government. When these assets are held under the terms of a formal trust agreement, either a pension trust fund or an expendable trust fund is used. The term "expendable" refers to whether or not the Government is under an obligation to maintain the trust principal. Agency funds generally are used to account for assets that the Government holds on behalf of others as their agent. Basis of Accounting:. The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. All governmental funds and expendable trust funds are accounted for using a current financial resources measurement focus. With this measurement focus, only current assets and current liabilities generally are included on the balance sheet. Operating statements of these funds present increases (i.e., revenues and other financing sources) and decreases (i.e., expenditures and other financing uses) in net current assets. (Continued) 11 VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1999 I I NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Basis of Accounting: (Continued) All proprietary funds and pension trust funds are accounted for on a flow of economic resources measurement focus. With this measurement focus, all assets and all liabilities associated with the operation of these funds are included on the balance sheet. Proprietary fund-type fund equity (i.e., net total assets) is segregated into contributed capital and retained earnings components. Proprietary fund-type operating statements present increases (i.e., revenues) and decreases (i.e., expenses) in net total assets. The modified accrual basis of accounting is used by all governmental fund types, expendable trust funds, and agency funds. Under the modified accrual basis of accounting, revenues are recognized when susceptible to accrual (i.e., when they become both measurable and available). "Measurable" means the amount of the transaction can be determined and "available" means collectible within the current period. The Government recognizes property taxes when they become both measurable and available in accordance with GASB Codification Section P70. A one-year availability period is used for revenue recognition for all other governmental fund revenues. Expenditures are recorded when the related fund liability is incurred. Principal and interest on general long-term debt are recorded as fund liabilities when due or when amounts have been accumulated in the debt service fund for payments to be made early in the following year. Those revenues susceptible to accrual are property taxes, franchise taxes, licenses, interest revenue, and charges for services. Sales, income, and motor fuel taxes and fines collected and held by the state at year end on behalf of the Government also are recognized as revenue. Permit revenues are not susceptible to accrual because, generally, they are not measurable until received in cash. The accrual basis of accounting is utilized by proprietary fund types, pension trust funds, and nonexpendable trust funds. Under this method, revenues are recorded when earned and expenses are recorded at the time liabilities are incurred. The Government reports deferred revenue on its combined balance sheet. Deferred revenues arise when a potential revenue does not meet both the "measurable" and "available" criteria for recognition in the current period. Deferred revenues also arise when resources are received by the Government before it has a legal claim to them, as when grant monies are received prior to the incuzrence of qualifying expenditures. In subsequent periods, when both revenue recognition criteria are met, or when the Government has a legal claim to the resources, the liability for deferred revenue is removed from the combined balance sheet and revenue is recognized. I I I I I I I I I I I I I I I (Continued) 12 I I I I VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1999 I I I I I I I I I I I I I I I NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Budgets: Budgets are adopted on a basis consistent with generally accepted accounting principles. Annual appropriated budgets are adopted (at the fund level) for the General Special Revenue, Debt Service, and Capital Projects Funds (except the Village Permanent and Glen Land Sales Funds) on the modified accrual basis and for the Enterprise, Internal Service, and Pension Trust Funds on the accrual basis. The annual appropriated budget is legally enacted and provides for a legal level of control at the fund level. All annual appropriations lapse at fiscal year end. During the current year, budgets were not adopted for the following funds: Capital Projects Funds: Village Permanent Fund Glen Land Sales Fund The source of revenue and nature of expenditures for these funds are not subject to prediction, and therefore, budgets were not adopted. Budget and actual comparisons for the Capital Projects Funds exclude the aforementioned funds. The following is a reconciliation of the Capital Projects Funds presented on a budgetary basis to the GAAP basis presentation: Capital Fund Type Fund Balances - Budgeted Funds, at December 31, 1999 Non-GAAP Basis $ 23,374,091 Nonbudgeted Fund Balances Village Permanent Glen Land Sales 17,124,912 43,911,212 61,036,124 Fund Balances, at December 31, 1999 GAAP Basis $ 84.410.215 I I (Continued) 13 VILLAGE OF GLENVlEW, ILLINOIS Notes to Financial Statements December 31, 1999 i I NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Budgets: (Continued) Encumbrances represent commitments related to unperformed contracts for goods or services. Encumbrance accounting--under which purchase orders, contracts, and other commitments for the expenditure of resources are recorded to reserve that portion of the apphcable appropriation--is utilized in the governmental funds. Material encumbrances outstanding at year end, if any, are reported as reservations of fund balances and do not constitute expenditures or liabihties because the commitments will be honored during the subsequent year. Cash and Investments: For purposes of the statement of cash flows, the Government's proprietary fund types consider all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Investments: In accordance with Government Accounting Standard Board Statement No. 31, all investments are stated at fair value. Short-Term Interfund Receivables/Payables: During the course of operations, numerous transactions occur between individual funds for goods provided or services rendered. These receivables and payables are classified as "due from other funds" or "due to other funds" on the balance sheet. Short-term interfund loans, if any, are classified as "interfund receivables/payables." Inventories: Inventories are valued at cost, which approximates market, using the first- in/first-out (FIFO) method. The costs of governmental fund-type inventories are recorded as expenditures when consumed rather than when purchased. Prepaid Items/Expenses: Payments made to vendors for services that will benefit periods beyond the date of this report are recorded as prepaid items/expenses. Fixed Assets: General fixed assets are not capitahzed in the funds used to acquire or construct them. Instead, capital acquisition and construction are reflected as expenditures in governmental funds, and the related assets are reported in the general fixed assets account group. All purchased fixed assets are valued at cost where historical records are available and at an estimated historical cost where no historical records exist. Donated fixed assets are valued at their estimated fair value on the date received. The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend asset lives are not capitalized. Improvements are capitahzed and depreciated over the remaining useful lives of the related fixed assets, as applicable. I I I I I I I I I I I I I I I (Continued) 14 I I I I VILLAGE OF GLENVIE~V, ILLINOIS Notes to Financial Statements December 31, 1999 I I I i I I I I I I I I I I I NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Fixed Assets: (Continued) Public domain ("infrastructure") general fixed assets consisting of roads, bridges, curbs and gutters, streets and sidewalks, drainage systems, and lighting systems are not capitalized, as these assets are immovable and of value only to the Government. Assets in the general fixed assets account group are not depreciated. Depreciation of buildings, equipment, water/sewer systems, and vehicles in the proprietary fund types is computed using the straight-line method. Interest is capitalized on proprietary fund assets acquired with tax-exempt debt. The amount of interest to be capitalized is calculated by offsetting Interest expense incurred from the date of the borrowing until completion of the project with interest earned on invested proceeds over the same period. Compensated Absences: Vested or accumulated vacation leave that is expected to be liquidated with expendable available financial resources is reported as an expenditure and a fund liability of the governmental fund that will pay it. Vested or accumulated vacation leave of proprietary funds is recorded as an expense and liability of those funds as the benefits accrue to employees. Long-Term Obligations: Long-term debt is recognized as a liability of a governmental fund when due or when resources have been accumulated In the debt service fund for payment early in the following year. For other long-term obligations, only that portion expected to be financed from expendable available financial resources is reported as a fund liability of a governmental fund. The remaining portion of such obligations is reported in the general long- term debt account group. Long-term liabifities expected to be financed from proprietary fund operations are accounted for in those funds. Fund Equity: Contributed capital is recorded In proprietary funds that have received capital grants or contributions from developers, customers, or other funds. Reserves represent those portions of fund equity not appropriable for expenditure or legally segregated for a specific future use. Designated fund balances represent tentative plans for future use of financial resources. Bond Discounts/Issuance Costs: In governmental fund types, bond discounts and issuance costs are recognized in the current period. Bond discounts and issuance costs for proprietary fund types are deferred and amortized over the term of the bonds using the bonds-outstandIng method, which approximates the effective interest method. Bond discounts are presented as a reduction of the face amount of bonds payable whereas issuance costs are recorded as deferred charges. I I (Continued) 15 VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1999 I I NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Interfund Transactions: Quasi-external transactions are accounted for as revenues, expenditures, or expenses. Transactions that constitute reimbursements to a fund for expenditures/expenses irfitially made from it that are properly applicable to another fund are recorded as expenditures/expenses in the reimbursing fund and as reductions of expenditures/expenses in the fund that is reimbursed. All other interfund transactions, except quasi-external transactions and reimbursements, are reported as transfers. Nonrecurring or nonroutine permanent transfers of equity are reported as residual equity transfers. All other interfund transfers are reported as operating transfers. Memorandum Only - Total Columns: Total columns on the general purpose financial statements are captioned "memorandum only" to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position or results of operations in conformity with generally accepted accounting principles. Neither are such data comparable to a consolidation. Inter fund eliminations have not been made in the aggregation of this data. Comparative Data: Comparative total data for the prior year have been presented in selected sections of the accompanying financial statements in order to provide an understanding of changes in the Government's financial position, operations, and cash flows. There have been some reclassifications between individual lines in the prior year columns in order to present more comparable data. GASB Pronouncements: The Government has elected, under the provisions of GASB Statement 20, titled "Accounting and Financial Reporting for Proprietary Funds and Other Governmental Entities That Use Proprietary Fund Accounting," to apply all applicable GASB pronouncements and all FASB Statements and Interpretations, Accounting Principles Board (APB) Opinions, and Accounting Research Bulletins (ARB) issued on or before November 30, 1989, unless they conflict with or contradict GASB pronouncements. NOTE 2 - LEGAL COMPLIANCE AND ACCOUNTABILITY Budgets: All depaxtments of the Government submit requests for appropriation to the Government's manager so that a budget may be prepared. The budget is prepared by fund and Includes information on the past year, current year estimates, and requested appropriations for the next fiscal year. I I I I I I I I I I I I I I ! (Continued) 16 I I I I VILLAGE OF GLENVIEYV, ILLINOIS Notes to Financial Statements December 31, 1999 i I I I i I I I I I I i I I I NOTE 2 - LEGAL COMPLIANCE AND ACCOUNTABILITY (Continued) Budgets: (Continued) The proposed budget is presented to the governing body for review. The governing body holds public hearings and may add to, subtract from, or change appropriations, but may not change the form of the budget. The manager is authorized to transfer budgeted amounts between departments within any fund; however, any revisions that alter the total expenditures of any fund must be approved by the governing body. Expenditures may not legally exceed budgeted appropriations at the fund level. During the year, several supplementary appropriations were necessary. Deficit Fund Balances of Individual Funds: The following funds had a deficit in fund balance as of the date of this report: Fund Deficit Balance GNAS Redevelopment GNAS Caretaker North Maine Water and Sewer $ 1,385,304 31,669 110,109 Excess of Actual Expenditures/Expenses Over Budget in Individual Funds: The following funds had an excess of actual expenditures/expenses (exclusive of depreciation and amortization) over budget for the fiscal year: Fund Excess GNAS Redevelopment Corporate Purpose Bond Series of 1994 $ 656,567 5O NOTE 3 - DEPOSITS AND INVESTMENTS The Government maintains a cash and investment pool that is available for use by all funds, except the pension trust funds. Each fund type's portion of this pool is displayed on the combined balance sheet as "cash and investments." In addition, investments are separately held by several of the Government's funds. The deposits and investments of the pension trust funds are held separately from those of other funds. Cash on hand of $4,175 for the primary government and $950 for the component unit has been excluded from the amounts shown below. I I (Continued) 17 VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1999 I I NOTE 3 - DEPOSITS AND INVESTMENTS (Continued) Permitted Deposits and Investments - Statutes authorize the Government to make deposits/invest in insured commercial banks, savings and loan institutions, obligations of the U.S. Treasury and U.S. Agencies, insured credit union shares, money market mutual funds with portfolios of securities issued or guaranteed by the United States or agreements to repurchase these same obligations, repurchase agreements, short-term commercial paper rated within the three highest classifications by at least two standard rating services, and The Illinois Funds. Pension funds may also invest in certain non-U.S, obligations, Illinois municipal corporations tax anticipation warrants, veteran's loans, obligations of the State of Illinois and its political subdivisions, and Illinois insurance company general and separate accounts. Deposits: At year-end, the carrying amount of the primary government's deposits totaled $47,064,313 and the bank balances totaled $48,897,644. The carrying amount of the component unit's deposits totaled $1,779,282 and the bank balances totaled $1,557,634. Category 1 Deposits covered by federal depository insurance, or by collateral held by the Government, or its agent, in the Government's name. Bank Balances Primary Component Government Unit $ 48,897,644 $ 1,557,634 Category 2 Deposits covered by collateral held by the pledging financial institution's trust depa~tt~ent, or by its agent, in the Government's name. Category 3 Deposits covered by collateral held by the pledging financial institution, or its trust department, or its agent but not in the Government's name, and deposits which are uninsured and uncollateralized. Total deposits $ 48.897.644 $ 1,557.634 I i I I ! I I I I I I i I I I (Continued) 18 I I I I VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1999 I I I I NOTE 3 - DEPOSITS AND INVESTMENTS (Continued) Deposits: (Continued) For pension trust funds, the types of deposits authorized and the mix of credit risk categories do not differ significantly from the other funds of the Government. Investments: The Goverrtment's investments are categorized to give an indication of the level of risk assumed by the entity at year end. Category 1 includes investments that are insured or registered or for which the securities are held by the Government or its agent in the Government's name. Category 2 includes uninsured and unregistered investments for which the securities are held by the counterparty's trust department or agent in the Government's name. Category 3 includes uninsured and unregistered investments for which the securities are held by the counterparty, or by its trust department or agent but not in the Government's name, and uninsured, unregistered investments. Primary Government · Fair Value .... Category ..... Component 1 _2 _3 Totals Unit U.S. Treasury securities $ 86,487,537 $ $ $ 86,487,537 U.S. Agency securities 43~471,754 43,471,754 $129.959.291 $ $ 129,959,291 * The Illinois Funds 5,386,791 207,837 Contracts and Separate Accounts 4,514,990 Total investments $139.861.072 $ 207.837 * Not subject to risk categorization (Continued) 19 VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1999 I I NOTE 3 - DEPOSITS AND INVESTMENTS (Continued) Investments: (Continued) The pension trust funds own 52 percent of the investments in Category 1. NOTE 4 - RECEIVABLES -TAXES Property taxes for 1999 attach as an enforceable lien on January 1, 1999 on property values assessed as of the same date. Taxes are levied by December of the fiscal year (by passage of a Tax Levy Ordinance). Tax bills are prepared by the County and issued on or about February 1, 1999 and August 1, 1999 and are payable in two installments, on or about March 1, 1999 and September 1, 1999. The County collects such taxes and remits them periodically. The allowance for uncollectible taxes has been stated at 2% of the tax levy, to reflect actual collection experience. NOTE 5 - FIXED ASSETS General Fixed Assets Account Group: The following is a summary of changes in the general fixed assets account group during the fiscal year: Primary_ Government Balances Balances lanuary 1 Additions Retirements December 31 Land $ 4,585,095 $ 420,000 Buildings and improvements 9,676,414 413,018 Equipment 7,356,776 1,490,194 Furniture 295,072 Office equipment 618,715 58,386 $ $ 5,005,095 10,089,432 324,757 8,522,213 295,072 677,101 I I I I I I I I I I I I I I I (Continued) 20 I I I ! VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1999 I I I I NOTE 5 - FIXED ASSETS (Continued) General Fixed Assets Account Group: (Continued) Discretely Presented Balances Component Unit - Library_ Ianuary 1 Additions Balances Retirements December 31 Land $ 500,000 $ $ $ 500,000 Buildings and improvements 4,116,088 9,400 4,125,488 Furniture and equipment 865,333 9,624 18,723 856,234 $ 5,481,421 $ !9,024 $ 18,723 $ 5,481.722 Proprietary Fixed Assets: The following is a summary of proprietary fund-type fixed assets as of the date of this report: Enterprise Funds Land and improvements Buildings Building improvements Water/sewer systems Equipment and vehicles Office furniture and equipment Accumulated depreciation $ 302,851 243,645 203,309 34,520,027 2,457,901 18,672 37,746,405 (10,959,598) $ 26.786.807 In proprietary funds, the following estimated useful lives are used to compute depreciation: Building improvements Water/sewer systems Buildings Equipment and vehicles Office furniture and equipment 10-20 years 50 years 40-50 years 3-10 years 3-10 years (Continued) 21 VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1999 I I NOTE 6 - RISK MANAGEMENT The Government is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors and omissions; injuries to employees; illnesses of employees; and natural disasters. The Government is self-insured for all risks and has established a risk financing fund, Insurance Fund (Fund), for all risks. It is accounted for as an internal service fund where assets are set aside for claim settlements. Under this program, the Fund provides coverage up to a maximum of $1,000,000 for each general liability claim, $50,000 for each workers' compensation claim, and $50,000 for each property damage claim. The Government purchases commercial insurance for claims in excess of the coverages provided by the Fund. Settled claims have not exceeded this commercial coverage in any of the past three fiscal years. All funds of the Government participate and make payments to the Fund based upon actuarial estimates of the amounts needed to pay prior- and current-year claims. Liabilities of the Fund are reported when it is probable that a loss has occurred and the amount of the loss can be reasonably estimated. LiabiLities include an amount for claims that have been incurred but not reported (IBNR). Claim liabilities are calculated considering the effects of inflation, recent claim settlement trends including frequency and amount of payouts, and other economic and societal factors. Changes in the balances of claims liabilities during the past two fiscal years are as follows: Fiscal Year Ended December 31 1999 1998 Unpaid claims - beginning Incurred claims (including IBNR) Claim payments $ 218,650 $ 152,237 49,000 325,351 (64,555) (258,938) Unpaid claims - ending $ 203.095 $ 218.650 Intergovernmental Personnel Benefit Cooperative (IPBC) The Government participates in the Intergovernmental Personnel Benefit Cooperative (IPBC). IPBC is a public entity risk pool established by certain units of local government in Illinois to administer some or all of the personnel benefit programs (primarily medical dental and life insurance coverage) offered by its members to their officers and employees and to the officers and employees of certain other governmental quasi-governmental, and nonprofit public service entities. Risk of loss is retained by the Government, except that IPBC purchases excess coverage policies. I I I I I I I I I I I I I I I (Continued) 22 I I ! ! VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1999 ! ! NOTE 6 - RISK MANAGEMENT (Continued) Intergovernmental Personnel Benefit Cooperative (IPBC) (Continued) Management consists of a Board of Directors comprised of one appointed representative from each member. In addition, there are three officers, a Benefit Administrator, and a Treasurer. The Government does not exercise any control over activities of IPBC beyond its representation on the Board of Directors. High-Level Excess Liability Pool (HELP) The Government participates in the High-Level Excess Liability Pool (HELP). HELP is a public entity risk pool established by certain municipalities in Illinois to provide excess liability coverage ($10,000,000 of coverage after a $1,000,000 self-insurance retention). The Government's payments to HELP are displayed on the financial statements as expenditures/expenses in appropriate funds. HELP was organized on April 1, 1987. The purpose of HELP is to act as a joint self-insurancepool for the purpose of seeking the prevention or lessening of liability claims for injuries to persons or property or claims for errors and omissions made against the members and other parties included within the scope of coverage of HELP. HELP is governed by a Board of Directors which consists of one appointed representative from each member municipality. Each director has an equal vote. The officers of HELP are appointed by the Board of Directors. The Board of Directors determines the general policy of HELP; makes all appropriations; approves contracts; adopts resolutions providing for the issuance of debt by HELP; adopts bylaws, rules, and regulations; and exercises such powers and performs such duties as may be prescribed in the Agency Agreement or the bylaws. The Government does not exercise any control over the activities of HELP beyond i~s representationon the Board of Directors. NOTE 7 - LEASE OBLIGATIONS No material capital or operating leases were in effect as of the date of this report. (Continued) 23 VILLAGE OF GLENVIEW, ILLINOIS Notes to Firmncial Statements December 31, 1999 I I NOTE 8 - LONG-TERM DEBT Changes in Long-Term Liabilities: During the fiscal year, the following changes occurred m liabilities reported in the General Long-Term Debt Account Group: Balances Balances ~anuary_ 1 Additions Reductions December 31 General ObligationBonds $ 51.070.850 $ 24.400.000 $ 22,660,850 $ 52.810.000 General Obligation Bonds: The Government issues general obligation bonds to provide funds for the acquisition and construction of major capital facilities. General obligation bonds have been issued for both general government and proprietary activities. These bonds therefore are reported in the proprietary funds if they are expected to be repaid from proprietary revenues. General obligation bonds are direct obligations and pledge the full faith and credit of the Government. General obligation bonds currently outstanding are as follows: Fund Debt Balances Balances Issue Retired Bv lanuary 1 Additiom Reductions December 31 $4,165,000 Corporate Purpose Bonds Series of 1991 dated December 1, 1991, due in Water annual installments of $50,000 Works $ 304,150 to $60,000 plus interest at 4.40% to 6.90% through Debt December 1,1999. Service 80,850 $ $ 304,150 $ 80,850 $Z895,000 Corporate Purpose Bonds Series of 1992 dated April 1,1992, due in annual installments of $10,000 to $255,000 plus interest at 4.00% to 5.90% through December 1, 201Z Whole- sale Water 2,405,000 110,000 2,295,000 $7,635,000 Corporate Purpose Bonds Series of 1993 dated May 1, 1993, due in annual installments of $205,000 to $1,345,000 plus interest at 4.60% to 4.70% through December 1, 2005. Debt Service 6,355,000 5,765,000 I ! I I I I I I I I I I I I I (Continued) 24 I I ! ! VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1999 NOTE 8 - LONG-TERM DEBT (Continued) General Obligation Bonds: (Continued) Fund Debt Balances Retired By ]anuarv 1 $8,040,000 Corporate Purpose Bond Series of 1994 dated September 15, 1994, due in amlual installments of $90,000 to $1,275,000 plus interest at 4.00% to Debt 5.10% through December 1, 2004. Service $ 6,000,000 $800,000 Corporate Purpose Bond Series of 1995 dated October 17, 1995, due in annual installments of $100,000 plus interest at 3.55% to Debt 4.20% through December 31, 2000. Service 200,000 $60,000,000 General Obligation Bond Anticipation Bonds of 1995 dated January 25, 1995, due in annual installments of $7,500,000 to $20,000,000 plus intx.~rest at 7.0% Debt through December 1, 1999. Service 20,000,000 $8,345,000 Corporate Purpose Bond Series of 1996 dated November 1, 1996, due in arrnu~l installments of $675,000 to $1,050,000 plus interest at 4.60% to Debt 4.875% through December 1, 2008. Service 8,435,000 $6,175,000 Corporate Purpose Bond Series of 1997 dated August North 1, 1997, due in annum installments Maine of $100,000 to $495,000 plus Water interest at 4.875% to 5.00% ~nd through December 1, 2017. Sewer 6,075,000 $10,000,000 General ObllgatSon Bond Series o[ 1998A dated November 1, 1998, due in annual installments of $695,000 to $1,875,000 plus interest at 4.10% to 4.35% through December 1, 2018. Debt Service 10,000,000 $24,400,000 General Obligation Bond Series of 1998B dated January 1,1999, due in annual installments of $1,000,000 to $2,050,000 plus interest at 4.25 % to 4.50% through December 1, 2018. Debt Service 59.855,000 Additions Reductions $ $ 1,215,000 24,400,000 $ 24,400,000 200,000 $ 23.275.000 Balances December 31 100,000 7,760,000 5,8~,000 $ 60.980.000 (Continued) 25 VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1999 I I NOTE 8 - LONG-TERM DEBT (Continued) Notes Payable: The Government enters into notes payable to provide funds for the acquisition of capital assets. Notes payables have been issued for proprietary activities. The proprietary liabilities are therefore reported in the proprietary funds. Note payable currently outstanding is as follows: Fund Debt Balances Balances Issue Retired BV January 1 Additions Reductions December 31 $2,850,000 Corporate purpose Note of 1997 dated September 2, North 1997, due in annual installments of Maine $215~377. Interest paid at 4.942% Water through September 1, 2019. and $ Z775.477 $ $ 78.207 $ 2.697.270 Debt Service Requirements to Maturity Annual debt service requirements to maturity are as follows: Fiscal Year 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Total principalandinterest General Corporate Obligation Purpose General Bonds Carried Notes Carried Obliga~on as Enterprise as Enterprise Bonds Fund Liabilities Fund Liabilities Totals 5,064,402 $ 766,792 $ 215,377 $ 6,046,571 4,837,698 759,476 215,377 5,812,551 6,244,357 756,494 215,377 7,216,228 5,909,305 767,596 215,377 6,892,278 5,912,770 761,906 215,377 6,890,053 5,377,820 760,268 215,377 6,353,465 3,975,601 762,352 215,377 4,953,330 3,986,487 762,896 215,377 4,964,760 3,993,696 766,966 215,377 4,976,039 2,894,195 769,326 215,377 3,878,898 2,896,915 769,866 215,377 3,882,158 2,903,940 768,772 215,377 3,888,089 2,906,690 775,956 215,377 3,898,023 2,917,945 505,750 215,377 3,639,072 1,931,070 511,000 215,377 3,657,447 2,948,950 510,000 215,377 3,674,327 2,966,050 513,000 215,377 3,694,427 2,982,035 519,750 215,377 3,717,162 3,001,564 215,377 3,216,940 215r377 215r377 ~ $ 12.508.166 $ 4.307.540 $ 91.467.195 $ 21,841.489 $ 4.338.166 Interest portion $ 1.610.270 I I I I I I I I I I I I I I I (Continued) 26 I I I ! VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1999 I I I I I I I I i I I I I I I NOTE 8 - LONG-TERM DEBT (Continued) Legal Debt Margin The Government is a home rule municipality. Article VII, Section 6(k) of the 1970 Illinois Constitution governs computation of the legal debt "The General Assembly may limit by law the amount and require referendum approval of debt to be incurred by home rule municipalities, payable from ad valorem property tax receipts, only in excess of the following percentages of the assessed value of its taxable property... (2) ff its population is more than 25,000 and less than 500,000 an aggregate of one percent: . . . indebtedness which is outstanding on the effective date (July 1, 1971) of this constitution or which is thereafter approved by referendum.., shall not be included in the foregoing percentage amounts." To date the General Assembly has set no limits for home rule municipalities. Advance Refunding - General Obligation Refunding Bonds, Series 1994 On August 30, 1994, the Government passed an ordinance providing for the issuance of $8,040,000 General Obligation Refunding Bond Series of 1994 and the levy and collection of a direct annual tax for the payment of principal and interest on the bonds. On August 30, 1994, the Government passed an ordinance directing the execution of an escrow agreement in order to partially refund $5,025,000 of General Obligation Bond Series of 1989 and $2,525,000 of General Obligation Bond Series of 1990 issued by the Government and outstanding in the aggregate principal amount of $6,625,000 and $4,000,000, respectively. This advance refunding was undertaken to reduce total debt service payments over the next eleven years by $322,463 and to obtain an economic gain (difference between the present value of the debt service payments of the refunded and refunding bonds) of $259,324. Proceeds in the amount of $7,988,866 from the refunding bonds were used to execute the escrow agreement. The long-term debt is recorded in the General Long-Term Debt Account Group. Current principal and interest requirements are accounted for in the Debt Service Fund. Although there has been no legal defeasance (satisfaction of debt) in this transaction, all conditions which normally satisfy defeasance of the partial refund of the $5,025,000 of General Obligation Bond Series of 1989 and $2,525,000 of General Obligation Bond Series of 1990 have been met. I I (Continued) 27 VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1999 I I NOTE 8 - LONG-TERM DEBT (Continued) Advance Refunding - General Obligation Refunding Bonds, Series 1994 (Continued) Those provisions include: Proceeds of the new debt have been placed in an irrevocable trust with a reputable trustee for the primary purpose of satisfying old debt at a specified future date. An escrow agreement has been entered into with American National Bank and Trust Company of Chicago. The proceeds of the new debt are invested in direct U.S. Treasury obligations with maturities that approximate the debt service requirements of the original issue. The proceeds in escrow are not su~ect to lien for any purpose other than in connection with the advance refunding transaction. Since the requirements which normally satisfy defeasance have been met, the financial statements reflect satisfaction of the original liability through the irrevocable transfer to an escrow agent of an amount computed to be adequate to meet the future debt service requirements of the issue. Fiscal Year Ending December 31 Schedule of Future Requirements Corporate Purpose Corporate Purpose ---Bond Series of 1989 .... Bond Series of 1990 -- Interest Interest Rate Principal Rate Principal 2000 6.50% $ 750,000 6.90% $ 475,000 2001 6.50 550,000 6.90 575,000 2002 6.60 550,000 6.90 600,000 2003 6.60 600,000 2004 6.60 625,000 Noncommitment Debt Special Service Area Bonds: Special service area bonds outstanding as of the date of this report totaled $1,026,415. These bonds are not an obligation of the Government and are secured by the levy of special service on the real property within the special service area. The Government is in no way liable for repayment but is only acting as the agent for the property owners in levying and collecting the assessments and forwarding the collections to the bondholders. I I I I I I I I i I I I I I I (Continued) 28 I I I I VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1999 I I I NOTE 8 - LONG-TERM DEBT (Continued) Industrial Development Revenue Bonds: The Government qualifies as a Home Rule Unit under Section 6(a) of Article VII of the 1970 Constitution of Illinois and, under the powers granted by this Section, can exercise any power and perform any function pertaining to its government and affairs which is not prohibited by the Illinois State Statutes. The issuance of Industrial Development Revenue Bonds by the Government is to finance in whole or in part the cost of the acquisition, purchase, construction, reconstruction, improvement, equipping, betterment, or extension of any economic development project in order to encourage economic development within or near the Government. Industrial Development Revenues Bonds are not a debt of the Government. The entity using the bond proceeds to finance a construction or improvement project is liable for the bonds. Since the Government does not act as an agent for Industrial Development Revenue Bonds, the transactions relating to the bonds and property do not appear in the Government's financial statements. The Government has authorized the issuance of the following such bonds: Baxter, L.L.C. Under authority of Ordinance No. 3909, dated October 21, 1997, the Village refinanced $9,770,000 of Industrial Development Bonds dated as of November 1, 1997, at 5.25 percent interest. Final payment date of the bonds is December 1, 2027. Bond proceeds were issued to refinance previously issued Industrial Development Bonds from 1985. The initial bonds were issued to fund the completion of a multi-family housing project titled Valley Lo Towers II. NOTE 9 - CONTRACTUAL COMMITMENTS High-Level Excess Liability Pool (HELP) The Government has committed to purchase excess liability insurance from the High-Level Excess Liability Pool (HELP), a public entity risk pool for certain Illinois municipalities through April 30, 2008. These amounts have been calculated using the Government's current allocation percentage of 7.58%. In future years, this allocation percentage will be subject to change because the HELP Agreement provides that each year members will be assessed based upon a formula which specifies the following four criteria for allocating premium costs: (Continued) 29 VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1999 I I NOTE 9 - CONTRACTUAL COMMITMENTS (Continued) Miles of Streets Full-Time Equivalent Employees Number of Motor Vehicles Operating Revenues Solid Waste Agency of Northern Cook County (SWANCC): The Government has committed to pay its share of the annual operating costs and fixed costs of the SWANCC. The Government's share of costs is expected to be funded through tipping fees paid by refuse haulers. The Government began delivering refuse to SWANCC in May of 1995. SWANCC has entered into Solid Waste Disposal Contracts with the twenty-three member municipalities. The contracts are irrevocable and may not be terminated or amended except as provided in the contract. Each member is obligated, on a "take or pay" basis, to purchase, or in any event, to pay for a minimum annual cost of the system. The obligation of the Government to make all payments as required by this contact is unconditional and irrevocable, without regard to performance or nonperformance by SWANCC of its obligations under this contract. NOTE 10 - INTERFUND ASSETS/LIABILITIES Due From/To Other Funds Receivable Fund General Payable Fund Water Wholesale Water Sewer North Maine Water and Sewer Police Pension Firefighters' Pension GNAS Redevelopme~at GNAS Caretaker GNAS Bond Fund Series 1995 Commuter Parking 911 Capital Equipment Replacement Insurance Refuse & Recycling Escrow Deposit Capital Projects Municipal Equipment Repair Corporate Purpose Bond Fund Series of 1993 Corporate Purpose Bond Fund Series of 1994 Corporate Purpose Bond Fund Series of 1995 Corporate Purpose Bond Fund Series of 1996 Corporate Purpose Bond Fund Series of 1998 Amount $ 672,004 128,158 23,798 320,174 1,200 1,700 841,494 22,75O 323,664 11,623 10,301 80,200 156,071 77,231 409,416 8,045 38,153 94,193 6OO 24O 300 9OO 3~223,415 I I I I I I ! I i I I I I I I (Continued) 30 I I I I VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1999 I I I NOTE 10 - INTERFUND ASSETS/LIABILITIES (Continued) Due From/To Other Funds (Continued) Receivable Fund Special Revenue GNAS - Redevelopment 911 Communica~ons Payable Fund GNAS Bond Fund Series 1995 Municipal Equipment Repair General Capital Projects Capital Projects GNAS Bond Fund Series 1995 Bond Fund Series of 1993 GNAS - Redevelopment Water Works Enterprise Sewerage Water Water Municipal Equipment Repair Fund General Capital Projects Internal Service Municipal Equipment Repair General Water North Maine Water and Sewer GNAS- Redevelopment Advances From/To Other Funds Receivable Fund Capital Projects Capital Projects Enterprise Waterworks North Maine Water and Sewer Payable Fund Sewerage Capital Projects Capital Equipment Replacement Capital Equipment Replacement Amount $ 68,129 82 1,920 70,131 4,477 423,658 164,900 593~035 59,164 317 210 3,645 63,336 28,790 3,689 789 72,532 105,800 $ 4.055.717 Amount $ 476,344 873,739 737,429 26,725 L637,894 $ 2.114.238 (Continued) 31 VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1999 I I NOTE 11 - SEGMENT INFORMATION - ENTERPRISE FUNDS The Government maintains the following enterprise funds which are intended to be self- supporting through user fees charged for services to the public. Firrancial segment information as of the date of this report and for the fiscal year is as follows: Operating revenues Depreciation and amortization Operating income Operating transfers in Operating transfers out Net income 0oss) Current capital contributions Current capital transfers Plant, property, and equipment Additions Deletions Total assets Net working capital Bonds and other long-term liabilities Payable from operating revenues Payable from Total equity .Waterworks $ 6,386,511 North Maine Commuter Wholesale Water and Parking Water Sewer Sewerage Lo~t Totals $ 1,371,805 $ 5,647,651 $ 838,588 $ 216,605 $ 14,461,160 551,799 63,691 235,735 122,734 9,179 983,138 2,202,854 531,022 1,203,762 479,180 95,762 4,512,580 390,000 680,783 1,070,783 (1,192,348) (473,201) (660,974) (261,852) (32,000) (2,620,375) 1,505,099 (43,825) 156,450 913,071 66,519 2,597,314 200,000 200,000 1,046,911 43,117 953,873 2,043,901 20,188,933 3,179,028 9,096,167 5,212,585 230,189 37,906,902 5,957,504 948,621 1,570,031 240,262 136,001 8,852,419 2,419,628 8,525,307 10,801,149 19,214,493 759,400 (110,109) 4,779,748 194,545 24,838,077 NOTE 12 - CONTRIBUTED CAPITAL During the current year, contributed capital increased by the following amounts: Waterworks Sewerage Increases IEPA Grant $ 200,000 $ Decreases - Net Increases 200,000 Contributed Capital January 1 2,386,154 891,089 December 31 $ 2.586.154 $ 891.089 Totals 200,000 200,000 3,277,243 $ 3.477.243 I I I I I I I I I I I I I I I (Continued) 32 I I I I VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1999 I I I I I I I I i I I I I i I NOTE 13 - CONTINGENT LIABILITIES Litigation: The Government is a defendant in various lawsuits. Although the outcome of these lawsuits is not presently determinable, in the opinion of the Government's attorney, the resolution of these matters will not have a material adverse effect on the financial condition of the Government. Grants: Amounts received or receivable from grantor agencies are subject to audit and adjustment by grantor agencies, principally the federal government. Any disallowed claims, including amounts already collected, may constitute a liability of the applicable funds. The amount, if any, of expenditures which may be disallowed by the grantor cannot be determined at this time although the Government expects such amounts, if any, to be immaterial. High-Level Excess Liability Pool (HELP): The Government's agreement with the High-Level Excess Liability Pool provides that each member is liable for its proportionate share of any costs arising from defaults in payment obligations by other members. Solid Waste Agency of Northern Cook County (SWANCC): The Government's contract with the Solid Waste Agency of Northern Cook County provides that each member is liable for its proportionate share of any costs arising from defaults in payment obligations by other members. NOTE 14 - JOINT VENTURES Regional Emergency Dispatch Center Description of Joint Venture The Regional Emergency Dispatch Center (Center) is a governmental joint venture used to account for the resources involved in dispatching fire and medical emergency services to a nine community area. This fund is supported by contributions from the nine member departments. As of December 31, 1999, the Regional Emergency Dispatch Center served the fire departments of: Village of Glenview Village of Morton Grove Village of Niles Village of Northbrook North Maine Fire Protection District Prospect Heights Fire Protection District Village of Wheeling Village of Winnetka Village of Highwood I i (Continued) 33 VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1999 I I NOTE 14 - JOINT VENTURES (Continued) Management consists of a Board of Directors comprised of one appointed representative from each member. In addition, day to day operations are administered by the Fire Chiefs of each member district. The Government does not exercise any control over the activities of the Center beyond its representation on the Board of Directors. Summary Financial Information of Joint Venture The financial statements of the Center, dated December 31, 1999, show the following: Government's Total Share (.3210) Total assets Total liab'flities Total equity Total liabilities and equity Total revenues Total expenditures $ 1.078,217 $ 346,108 $ 246,273 $ 79,054 831,944 267~054 $ 1,078.217 $ 346,108 $ 1,021.098 $ 327,772 $ 859.631 $ 275,942 Initial contributions are determined in advance of each membership year based on the population within each member's district. Complete financial statements can be obtained from the Regional Emergency Dispatch System, 1815 Glenview Road, Glenview, Illinois, 60025. Total payments made to the R.E.D. Center totaled $201,667 for the year. Solid Waste Agency of Northern Cook County (SWANCC): Description of ~oint Venture The Government is a member of the Solid Waste Agency of Northern Cook County (SWANCC) which consists of twenty-three municipalities. SWANCC is a municipal corporation and public body politic and corporate established pursuant to the Constitution of the State of Illinois and the Intergovernmental Cooperation Act of the State of Illinois, as amended (the Act). SWANCC is empowered under the Act to plan, construct, finance, operate, and maintain a solid waste disposal system to serve its members. I I ! I I I I I i I I I I i I (Continued) 34 I i I I VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1999 I I I I I I I I I I I I I I I NOTE 14 - JOINT VENTURES (Continued) Solid Waste Agency of Northern Cook County (SWANCC) (Continued) Description of Joint Venture (Continued) The members of SWANCC and their percentage shares based on formulae contained in the SWANCC Agreement as of April 30, 1995 are: % Share Share Arlington Heights 10.13% Mount Prospect 8.86% Barrington 1.40 Niles 2.61 Buffalo Grove 5.90 Palatine 12.33 Elk Grove Village 4.57 Park Ridge 4.10 Evanston 7.28 Prospect Heights 1.11 Glencoe 1.20 Rolling Meadows 2.74 Glenview 5.85 Skokie 5.54 Hoffrnan Estates 6.17 South Barrington .64 Inverness 1.52 Wheeling 4.63 Kenilworth .92 Wilmette 4.05 LincoInwood 1.87 Winnetka 3.80 Morton Grove 2.78 100.00% These percentage shares are based on waste estimates for the year 2003 and cannot be changed for the term of the SWANCC Agreement. The members form a contiguous geographic service area which is located northwest of downtown Chicago. Under the Agency Agreement, additional members may join SWANCC upon the approval of each member. SWANCC is governed by a Board of Directors which consists of one appointed mayor or president from each member municipality. Each director has an equal vote. The officers of SWANCC are appointed by the Board of Directors. The Board of Directors determines the general policy of SWANCC; makes all appropriations; approves contracts; adopts resolutions providing for the issuance of bonds or notes by SWANCC; adopts bylaws, rules and regulations; and exercises such powers and performs such duties as may be prescribed in the Agency Agreement or the bylaws. I I (Continued) 35 VILLAGE OF GLEN-VIEW, ILLINOIS Notes to Financial Statements December 31, 1999 I I NOTE 14 ~ JOINT VENTURES (Continued) Solid Waste Agency of Northern Cook County (SWANCC): (Continued) Summary of Financial Information of Joint Venture Summary o£ Financial Position as of April 30, 1999: Assets Cash and investments Receivables and other 1,404,374 1,552,076 2,956,450 Liabilities and Fund Equity Current liabilities Accounts payable Bonds payable Accrued interest payable Deferred revenue 1,876,166 2,160,000 1,794,232 1,395,529 7,225,927 Restricted assets Cash and investments Accrued interest receivable 16,216,333 15,395 16,231,728 Long-term habilities Bonds payable (net of discount) 59r912,970 Fixed assets Accumulated depreciation CYr. her assets Unamortized bond issuance cost 30,813,163 (2,663,725) 28,149,438 1,266,437 Total liabilities Fund equity Contributed capital Retained earnings Total fund equity 67,138,897 4,723,340 (23,258,184) 08,534344) Total assets $ 48.61)4.053 Total liabilities and fund equity $ 48.604.053 SWANCC's outstanding bonds are revenue obhgations. They are limited obhgations of SWANCC with a claim for payment solely from and secured by a pledge of the revenues of SWANCC and amounts in various funds and accounts established by agency resolutions. The bonds are not the debt of any member. SWANCC has no power to levy taxes. Revenues of SWANCC consist of (1) all receipts derived from solid waste disposal contracts or any other contracts for the disposal of waste; (2) all income derived from the investment of monies; and (3) ail income, fees, service charges and all grants, rents, and receipts derived by SWANCC from the ownership and operation of the system. SWANCC covenants to establish fees and charges sufficient to provide revenues to meet ail its requirements. I I I I I I I I I I I I I I I (Continued) 36 I I I I VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1999 I I I I I I I I I I I I I I I NOTE 14 - JOINT VENTURES (Continued) Solid Waste Agency of Northern Cook County (SWANCC): (Continued) Summary of Financial Information of Joint Venture (Continued) Complete financial statements can be obtained from the Solid Waste Agency of Northern Cook County, 1616 E. GoLf Road, Des Plaines, Illinois 60016. The Government made $739,334 in payments to SWANCC for the year ended December 31, 1999. NOTE 15 - POSTEMPLOYMENT BENEFITS In addition to providing the pension benefits described, the Government provides postemployment health care benefits for retired public safety employees. Substantially all of the Government's public safety employees may become eligible for those benefits if they reach normal retirement age wlfile working for the Government. The cost of retiree health care benefits is recognized as an expenditure as claims are paid. For the fiscal year, those costs total $166,386 for the 48 participants. The retirees pay an annual premium which is equal to the actuarially determined cost for each plan year. Accordingly, no liability has been recorded for post-reffrement health care benefits. NOTE 16 - EMPLOYEE RETIREMENT SYSTEMS Plan Descriptions and Provisions: Illinois Municipal Retirement The Government contributes to the Illinois Municipal Retirement Fund (IMP, F), a defined benefit agent multiple-employer public employee reffrement system that acts as a common investment and administrative agent for local governments and school districts In Hlinois. The Government's total payroll for the year ended December 31, 1999, was $17,308,111. Of this amount, $9,514,512 in payroll earnings were reported to and covered by the IM'RF system. All employees hired in positions that meet or exceed the prescribed annual hourly standard must be enrolled in IMRF as participating members. Pension benefits vest after eight years of service. Participating members who retire at or after age 60 with 8 years of service are entitled to an annual retirement benefit, payable monthly for life In an amount equal to 1 2/3 percent of I I (Continued) 37 VILLAGE OF GLEN'VIEW, ILLINOIS Notes to Financial Statements December 31, 1999 I I NOTE 16 - EMPLOYEE RETIREMENT SYSTEMS (Continued) Plan Descriptions and Provisions: (Continued) Illinois Municipal Retirement (Continued) their final rate (average of the highest 48 consecutive months' earnings during the last 10 years) of earnings for each year of credited service up to 15 years and 2 percent for each year thereafter. IMRF also provides death and disability benefits. These benefit provisions and all other requirements are estabhshed by Illinois Compiled Statutes. Funding Policy - Participating members are required to contribute 4.5 percent of their annual salary to IMRF. The Government is required to contribute the remaining amounts necessary to fund the coverage of its own employees in IMRF, using the actuarial basis specified by state statute (entry age normal); for 1999 the rate was 8.74 percent. IMRF issues a separate financial report which may be obtained by writing them at: IMP, F, Drake Oak Brook Plaza, Suite 500, 2211 S. York Road, Oak Brook, Illinois 60521-2374. Police Pension Police sworn personnel are covered by the Pohce Pension Plan which is a defined benefit single-employer pension plan. Although this is a single-employer pension plan, the defined benefits and employee and employer contributions levels are governed by Illinois Compiled Statutes (Chapter 40 - Article 5/3) and may be amended only by the Illinois legislature. The Government accounts for the plan as a pension trust fund. The Government's payroll for employees covered by the Police Pension Plan for the year ended December 31, 1999 was $3,789,745 out of a total payroll of $17,308,111. At December 31, 1999, the Police Pension Plan membership consisted of: Retirees and beneficiaries currently receiving benefits and terminated employees entitled to benefits but not yet receiving them Current employees Vested 50 Nonvested 20 Total 98 The following is a summary of the Police Pension Plan as provided for in the Illinois Compiled Statutes. I I I I I I I I I I I I I I I (Continued) 38 I I I I VILLAGE OF GLENVIE-W, ILLINOIS Notes to Financial Statements December 31, 1999 I I I I I I I I I I I I I I I NOTE 16 - EMPLOYEE RETIREMENT SYSTEMS (Continued) Plan Descriptions and Provisions: (Continued) Police Pension (Continued) The Police Pension Plan provides retirement benefits as well as death and disability benefits. Employees attaining the age of 50 or more with 20 or more years of creditable service are entitled to receive an annual retirement benefit of one-half of the salary attached to the rank held on the last day of service or for one year prior to the last day, whichever is greater. The pension shall be increased by 2 percent of such salary for each additional year of service over 20 years up to 30 years and 1 percent of such salary for each additional year of service over 30 years, to a maximum of 75 percent of such salary. Employees with at least 8 years but less than 20 years of credited service may retire at or after age 60 and receive a reduced benefit. The monthly pension of a police officer who retired with 20 or more years of service after January 1, 1977 shall be increased annually, following the first anniversary date of retirement and be paid upon reaching the age of at least 55 years, by 3 percent of the original pension and 3 percent simple interest annually thereafter. Funding Policy - Covered employees are required to contribute 9 percent of their base salary to the Police Pension Plan. If an employee leaves covered employment with less than 20 years of service, accumulated employee contributions may be refunded without accumulated interest. The Government is required to contribute the remaining amounts necessary to finance the plan as actuarially determined by an enrolled actuary. Effective July 1, 1993, the Government's contributions must accumulate to the point where the past service cost for the Police Pension Plan is fully funded by the year 2033. No separate Police Pension Fund annual financial report is issued. Firefighters' Pension Fire sworn personnel are covered by the Fire fighters' Pension Plan which is a defined benefit single-employer pension plan. Although this is a s'mgle-employer pension plan, the defined benefits as well as the employee and employer contributions levels are mandated by Illinois Compiled Statutes (Chapter40 - Article 5/4) and may be amended only by the Illinois legislature. The Government accounts for the plan as a pension trust fund. The Government's payroll for employees covered by the Firefighters' Pension Plan for the year ended December 31, 1999 was $4,304,126 out of a total payroll of $17,308,111. At December 31, 1999, the Firefighters' Pension Plan membership consisted of: I I (Continued) 39 VILLAGE OF GLENVIEIN, ILLINOIS Notes to Financial Statements December 31, 1999 I I NOTE 17 - EMPLOYEE RETIREMENT SYSTEMS (Continued) Plan Descriptions and Provisions: (Continued) Firefighters' Pension (Continued) Retirees and beneficiaries currently receiving benefits and terminated employees entitled to benefits but not yet receiving them 32 Current employees Vested 52 Nonvested 28 Total 112 The following is a summary of the Firefighters' Pension Plan as provided for in the Illinois Compiled Statutes. The Firefighters' Pension Plan provides retirement benefits as well as death and disability benefits. Employees attaining the age of 50 or more with 20 or more years of creditable service are entitled to receive a monthly retirement benefit of one-half of the monthly salary attached to the rank held in the fire service at the date of retirement. The monthly pension shall be increased by one-twelfth of 21/2 percent of such monthly salary for each additional month over 20 years of service through 30 years of service and one-twelfth of 1 percent of such monthly service for each additional month over 30 years of service, to a maximum of 75 percent of such monthly salary. Employees with at least 10 years but less than 20 years of credited service may retire at or after age 60 and receive a reduced retirement benefit. The monthly pension of a firefighter who retired with 20 or more years of service after January 1, 1977 shall be increased annually, following the first anniversary date of retirement and paid upon reaching at least the age 55, by 3 percent of the original pension and 3 percent annuaEy thereafter. Funding Policy - Covered employees are required to contribute 8.455 percent of their salary to the Firefighters' Pension Plan. If an employee leaves covered employment with less than 20 years of service, accumulated employee contributions may be refunded without accumulated interest. The Government is required to contribute the remaining amounts necessary to finance the plan as actuafially determined by an enrolled actuary. Effective July 1, 1993, the Government's contributions must accumulate to the point where the past service cost for the Firefighters' Pension Plan is fully funded by the year 2033. No separate Firefighters' Pension Fund annual financial report is issued. I I I I I I I I I I I I I I I (Continued) 40 I I I I VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1999 I I I I I I I I I I I I I I I NOTE 16 - EMPLOYEE RETIREMENT SYSTEMS (Continued) Plan Descriptions and Provisions: (Continued) Summary of Significant Accounting Policies and Plan Asset Matters: Basis of Accounting - The financial statements are prepared using the accrual basis of accounting. Employee and employer contributions are recognized as revenues in the period in which employee services are performed. Method Used to Value Investments - Investments are reported at fair value. Investment income is recognized as earned. Gains and losses on sales and exchanges of fixed-income securities are recognized on the trade date. Significant Investments - There are no investments (other than U.S. government and U.S. government - guaranteed obligations) in any one organization that represent 5 percent or more of net assets available for benefits: Related Party Transactions - There were no securities of the employer or any other related parties included in plan assets, including any loans. Funding Policy and Annual Pension Cost Illinois Municipal Police Fire fighters' Retirement Pension Pension Contribution rates Government 8.74% 9.94% 5.49% Members 4.50% 9.00% 8.46% Annual pension cost Contributions made Actuarial valuation date Actuarial method Amortization method Remaining amortization period Asset valuation method Actuarial assumptions Investment rate of return* Projected salary increases* *Includes inflation of $ 83~,56~ $ 389,07~ $ 127,498 $ 831,568 $ 387,209 $ 128,265 12/31/99 1/1/99 1/1/99 Entry age Entry age Entry age Level percentage Level percentage Level percentage of pay, closed of pay, closed of pay, closed 33 years 35 years 35 years 5-year 3-year 3-year smoothed smoothed smoothed market market market 7.5% 8.0% 8.0% 0.4% to 11.6% 5.5% 5.5% 4.00% 3.0% 3.0% I I (Continued) 41 VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1999 I ! NOTE 16 - EMPLOYEE RETIREMENT SYSTEMS (Continued) Net Pension Obligation: The Government's annual pension cost and net pension obligation to the Police Pension and Firefighters' Pension funds for the current year were as follows: Police Firefighters' Pension Pension Annual required contribution Interest on net pension obligation Adjustment to annual required contribution Annual pension cost Contributions made Increase (decrease) in net pension obligation Net pension obligation - beginning of period $ 390,381 $ 129,305 (2,728) (3,764) 1,418 1,957 389,071 127,498 376,835 236,334 12,236 (108,836) (34,098) (47,050) Net pension obligation - end of period $ {21,862) $ (155,886) Trend Information: Trend information gives an indication of the progress made in accumulating sufficient assets to pay benefits when due. Illinois Municipal Police Fire fighters' Year Retirement Pension Pension Annual pension cost (APC) 1997 $ 764,282 $ 391,787 $ 180,383 1998 804,679 364,249 200,526 1999 831,568 389,071 127,498 Percentage of APC contributed Net pension obligation 1997 100.00% 101.67% 137.25% 1998 100.00 103.46 117.86 1999 100.00 99.52 100.60 1997 1998 1999 NOTE 17 - SALE OF LAND As part of the development of the property formerly occupied by the Glenview Naval Air Station, $85,199,250 was recorded as revenue in the Glen Land Sales Fund for the sale of land. I I I I I I I I I I I I I I I 42 I I VILLAGE OF GLENVIEW, ILLINOIS Illinois Municipal Retirement Fund Required Supplementary Information Analysis of Funding Progress December 31, 1999 (6) Unfunded (Overfunded) Actuarial (4) Accrued (2) Unfunded Liability (1) Actuarial (Overfunded) as a Actuarial Actuarial Accrued (3) Actuarial (5) Percentage Valuation Value Liabffity Funded Accrued Annual of Covered Date of Plan (AAL) Ratio Liability Covered Payroll [anuary 1 Assets - Entry Age (1) + (2) (2) - (1) Payroll (4) + (5) 1994 $ 9,629,250 $11,785,216 81.71% $ 2,155,966 $ 6,562,033 32.86% 1995 11,700,488 13,133,343 89.09 1,432,855 6,977~366 20.53 1996 13,146,368 14,358,158 91.56 1,211,790 7,546,952 16.06 1997 15,304,133 16,257,078 94.14 952,945 8,360,225 11.40 1998 17,834,171 17,399,577 100.76 (134,594) 8,842,628 (1.52) 1999 20,971,639 19,680,215 106.56 (1,291,424) 9,514,512 (13.57) Notes to the Required Supplementary Information - The information presented was determined as part of the actuarial valuations at the dates indicated. Additional information as of the latest actuarial valuation presented is as follows: The actuarial cost method was entry age normal; the amortization method was level percent of pay, closed and the amortization period was 33 years; the asset valuation method was a five-year smoothed market method; and the significant actuarial assumptions were an investment rate of return at 7.5% compounded annually including a 4.00% inflation factor, a projected salary increases assttmption of 0.4% to 11.6% compounded annually including a 4.00% inflation factor, and post-retirement benefit increases of 3% compounded annually. 43 VILLAGE OF GLENVIEW, ILLINOIS Police Pension Fund Required Supplementary Information Analysis of Funding Progress December 31, 1999 I ! I Actuarial Valuation Date [anuary 1 1994 1995 1996 (1) Actuarial Actuarial Accrued Value Liability of Plan (AAL) Assets - Entry Age N/A N/A N/A N/A N/A N/A 1997 $ 20,158,840 $ 20,886,412 1998 1999 23,553,282 23,162,656 27,211,245 24,277,701 (6) Unfunded (Overfunded) Actuarial (4) Accrued Unfunded Liability (Overfunded) as a (3) Actuarial (5) Percentage Funded Accrued Annual of Covered Ratio Liability Covered Payroll (1) + (2) (2) - (1) Payroll (4) + (5) N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 96.52% $ 727,572 $ 3,384A92 21.49% 101.70 (390,626) 3,687,295 (10.59)% 112.10 (2,933,544) 3,789,745 (77.40) N/A - Information is presented for as many of the six prior years as information according to the disclosure parameters is available. Information for these years is not available. Notes to the Required Supplementary Information - The information presented was determined as part of the actuarial valuations at the dates indicated. Additional information as of the latest actuarial valuation presented is as follows: The actuarial cost method was entry age normal; the amortization method was level percent of pay, closed and the amortization period was 35 years; the asset valuation method was a three-year smoothed market method; and the significant actuarial assumptions were an investment rate of return at 8% compounded annually including a 3.00% inflation factor, a projected salary increases assumption of 5.5% compounded annually including a 3.00% inflation factor, and post-retirement benefit increases of 3% compounded annually. I I I I I I I I I I I I I I I I VILLAGE OF GLENVIEW, ILLINOIS Firefighters' Pension Fund Required Supplementary Information Analysis of Funding Progress December 31, 1999 Actuarial Valuation DaM Tanuary 1 1994 1995 1996 (2) (1) Actuarial Actuarial Accrued Value Liability of Plan (AAL) Assets - Entry_ Age N/A N/A N/A N/A N/A N/A 1997 $ 30,745,072 $ 27,892,787 1998 1999 34,502,380 29,741,118 37,88~879 31,839,389 (6) Unfunded (Overfunded) Actuarial (4) Accrued Unfunded Liability (Overfunded) as a (3) Actuarial (5) Percentage Funded Accrued Annual of Covered Ratio Liability Covered Payroll (1) * (2) (2) - (1) Payroll (4) + (5) N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 110.23% $(2,852,285) $ 4,164,229 (68.49)% 116.01 (4,761,262) 4,253,196 (111.95) 119.00 (6,048,490) 4,304,126 (140.50) N/A - Information is presented for as many of the six prior years as information according to the disclosure parameters is available. Information for these years is not available. Notes to the Required Supplementary Information - The information presented was determined as part of the actuarial valuations at the dates indicated. Additional information as of the latest actuarial valuation presented is as follows: The actuarial cost method was entry age normal; the amortization method was level percent of pay, closed and the amortization period was 35 years; the asset valuation method was a three-year smoothed market method; and the significant actuarial assumptions were an investment rate of return at 8% compounded annually including a 3.0% inflation factor, a projected salary increases assumption of 5.5% compounded annually including a 3.0% inflation factor, and post-retirement benefit increases of 3% compounded annually. VILLAGE OF GLEN-VIEW, ILLINOIS Illinois Municipal Retirement Fund Required Supplementary Information Employer Contributions December 31, 1999 I I i Annual Year Ended Employer Required Percent December 31 Contributions Contribution Contributed 1994 $ 683,764 $ 683,764 100.00% 1995 691,600 691,600 100.00 1996 738,092 738,092 100.00 1997 764,282 764,282 100.00 1998 804,679 804,679 100.00 1999 831,568 831,568 100.00 Notes to the Required Supplementary Information - The information presented was determined as part of the actuarial valuations as of January 1 of the prior fiscal year. Additional information as of the latest actuarial valuation presented is as follows: The actuarial cost method was entry age normal; the amortization method was level percent of pay, closed and the amortization period was 33 years; the asset valuation method was a three-year smoothed market method; and the significant actuarial assumptions were an investment rate of return at 7.5% compounded annually including a 4.0% inflation factor, a projected salary increases assumption of 0.4% to 11.6% compounded annually including a 4.0% inflation factor, and post-retirement benefit increases of 3% compounded annually. I I I I I I I I I I I I I I 46 I I VILLAGE OF GLENVIEW, ILLINOIS Police Pension Fund Required Supplementary Information Employer Contributions December 31, 1999 Year Ended December 31 Annual Employer Required Percent Contributions Contribution Contributed 1994 N/A N/A N/A 1995 N/A N/A N/A 1996 N/A N/A N/A 1997 $ 398,347 $ 391,787 101.67% 1998 376,836 364,249 103.46 1999 387,209 389,071 99.52 N/A - Information is presented for as many of the six prior years as information according to the disclosure parameters is available. Information for these years is not available. Notes to the Required Supplementary Information - The information presented was determined as part of the actuarial valuations as of January 1 of the fiscal year. Additional information as of the latest actuarial valuation presented is as follows: The actuarial cost method was entry age normal; the amortization method was level percent of pay, closed and the amortization period was 35 years; the asset valuation method was a three-year smoothed market method; and the significant actuarial assumptions were an investment rate of return at 8% compounded annually including a 3.0% inflation factor, a projected salary increases assumption of 5.5% compounded annually including a 3.0% inflation factor, and post- retirement benefit increases of 3% compounded annually. 47 VILLAGE OF GLEN-VIEW, ILLINOIS Firefighters' Pension Fund Required Supplementary Information Employer Contributions December 31, 1999 I I I Year Ended December 31 Employer Required Percent Contributions Contribution Contributed 1994 N/A N/A N/A 1995 N/A N/A N/A 1996 N/A N/A N/A 1997 $ 247,575 $ 180,383 137.25% 1998 236,334 200,526 117.86 1999 128,265 127,498 100.60 N/A - Information is presented for as many of the six prior years as information according to the disclosure parameters is available. Information for these years is not available. Notes to the Required Supplementary Information - The information presented was determined as part of the actuarial valuations as of January 1 of the fiscal year. Additional information as of the latest actuarial valuation presented is as follows: The actuarial cost method was entry age normal; the amortization method was level percent of pay, closed and the amortization period was 35 years; the asset valuation method was a three-year smoothed market method; and the significant actuarial assumptions were an investment rate of return at 8% compounded annually including a 3.0% inflation factor, a projected salary increases assumption of 5.5% compounded annually including a 3.0% inflation factor, and post- retirement benefit increases of 3% compounded annually. I I I I I I I I I I I I I I 48 I I GENERAL FUND The General Fund, also referred to as the Corporate Fund, is used to account for resources traditionally associated with governmental services not required to be accounted for in another fund. VILLAGE OF GLENVIETW, ILLINOIS General Fund Balance Sheet December 31, 1999 and 1998 ASSETS Cash Investments Receivables Taxes Property taxes Sales tax Income tax Utility taxes Accounts Other Due from other governments Due from other funds Prepaid items Total assets LIABILITIES AND FUND BALANCE Liabilities Accounts payable Accrued payroll Compensated absences payable Other payables Due to other funds Deferred revenue Deferred property taxes Total liabilities Fund balance Reserved for prepaid items Reserved for Patton House Unreserved Designated for income tax surcharge receipts Undesignated Total fund balance Total liabilities and fund balance 1999 1998 $ 1,666,098 $ 258,112 8,689,937 8,192,685 5,604,175 5,129,686 527,596 835,114 217,722 251,603 316,573 305,374 243,454 233,850 99,614 64,795 4,615 3,223,415 2,941,225 9,867 5,641 $ 20,603,066 $ 156,192 89,365 926,120 11,506 30,920 282,636 5,604,175 7,100,914 %867 10,000 1,334,848 12,147,437 13,502,152 $ 20,603,06~6 $ 18,218,085 $ 190,637 46,021 870,063 10,016 5,12%686 6,246,423 5,641 10,000 1,334,848 10,621,173 11,971,662 $___!8,218,085 See accompanying notes to financial statements. 49 VILLAGE OF GLENVIEW, ILLINOIS General Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended December 31, 1999 and Actual Only for 1998 I I I Taxes Licenses and permits Intergovernmental Charges for services Fines and forfeits Interest Miscellaneous Total revenues Expenditures General government Pubhc safety Highways and streets Pension Total expenditures over expenditures Other financing sources (uses) Operating transfers in Wholesale Water Fund Waterworks fund Sewerage Fund North Maine Water and Sewer Fund Commuter Parking Lot Fund GNAS - Redevelopment Fund GNAS - Caxetaker Fund 911 Fund Capital Projects Fund Escrow Deposit Fund Component Unit Library Fund Operat~g transfers (out) Capital Equipment Replacement Fund Capital Projects Fund Excess of revenues and other financing sources over expenditures and other financing uses Fund balance January 1 D~ember31 1999 1998 Budget Actual Actual 9,298,586 $ 9,448,323 $ 9,667,185 1,008,500 1,233,680 1,325,782 10,938,692 11,664,547 10,831,040 2,233,550 741,991 1,310,311 200,000 281,525 232,855 425,000 478,582 526,760 1,032,500 1,159,475 456,907 25,136,828 25,008,123 24,350,840 5,057,628 4,854,514 4,824,865 1Z683,527 12,357,263 11,918,831 4,652,591 4,774,392 4,094,806 519,686 515,397 613,170 22,913,432 22,501,566 21,451,672 2,223,396 2,506,557 2,899,168 102,200 102,200 106,700 457,808 457,808 452,814 62,539 62,539 65,341 381,981 381,981 285,174 3Z000 32,000 3Z000 30,881 2,0O0 Z000 Z000 33,830 14,175 45,282 100,000 194,993 127,215 12,600 12,600 12,100 (1,023,323) (1,024,903) (%5,013) (1,464,000) 0,199,285) (919,600) (1,305,314) (976,067) (709,962) 918,082 1,530,490 2,189,206 11,971,662 9,782,456 $ 13,502,152 $ 11,971,662 ! I I I I I I I I I I I I I See accompanying notes to financial statements. 50 I I VILLAGE OF GLENVIEW, ILLINOIS General Fund Schedule of Revenues - Budget and Actual Year Ended December 31, 1999 and Actual Only for 1998 I I I I I I i I I I I I I I Property taxes - current Property taxes - pension Property taxes - prior Utility tax - Centel Utility tax - AT&T Utility tax - mobile services Utility tax - N. I. Gas Utility tax - Commonwealth Edison Utility tax - Ameritech Infrastructure maintenance fees Ameritech Other Hotel room tax Licenses and permits Motor vehicle Business Liquor Pet Building permits Certificate of occupancy Contractors fees Plumbing and sewer Driveway permits Intergovernmental Glenbrook Fire Protection District Replacement taxes Sales tax Illinois income tax Photo use tax Road and bridge Road and bridge - prior Village of Golf Fire Protection District Miscellaneous intergovernment Federal and state grants Other 1999 Budget Actual $ 4,610,000 $ 4,571,956 519,686 515,397 100,000 804 36,500 87,149 415,000 357,430 621,000 466,025 1,576,400 1,501,032 620,000 851,089 1998 Actual 4,723,668 613,170 84,296 1,677 122,513 534,676 454,997 1,558,230 668,462 27,036 12,977 267,270 35,744 800,000 803,135 856,775 %298,586 9,448,323 9,667,185 10 5,5~ 63,000 45,841 50,044 90,000 89,300 84,850 5,500 4,624 4,613 736,000 967,811 1,014,568 16,000 28,934 54,881 41,000 37,672 39,865 50,000 51,109 60,941 7,000 8,379 10,485 1,008,500 1,233,680 1,325,782 2,023,992 2,123,992 2,014,877 140,000 121,806 143,142 5,158,800 5,758,617 5,092,357 2,760,900 2,740,281 2,666,003 432,000 509,107 445,951 160,000 162,833 160,653 3,000 3 1,498 135,000 129,557 128,854 125,000 70,708 77,705 35,165 100,000 12,478 10,938,692 11,664,547 10,831,040 I ! (Continued) 51 VILLAGE OF GLENVIETvV, ILLINOIS General Fund Schedule of Revenues - Budget and Actual Year Ended December 31, 1999 and Actual Only for 1998 I I I Charges for services R.E.D. Administration Plan review fees Reinspection fees Elevator inspection fees Conditional use fees Electrical inspection Engineering fees GNAS engineering fees Unclassified public works Other service charges Lease Fees I.R.B. application fees Police and fire testing Fines and forfeits Interest Savings Investments N.O.W. accounts Other Revenues Franchise tax - Centel Franchise tax - Ameritech Franchise tax - Cable TV TCI Programming Agreement Land sales Miscellaneous Total revenues 1999 Budget Actual $ 30,881 109,350 72,066 10,000 670 11,700 12,920 3,000 31,145 45,000 59,090 1,153,000 382,103 800,000 12,500 7,607 12,000 9,789 77,000 135,720 2,233,550 741,991 200,000 281,525 15,0OO 18,592 400,000 448,879 10,000 11,111 425,000 478,582 130,000 174,396 192,000 204,966 56,012 335,000 531,593 375,500 192,508 1,032,500 1,159,475 25,136,828 $ 25,008,123 1998 Actual $ 29,152 205,520 5,250 14,880 8,035 85,527 830,819 19,181 11,644 85,501 9,520 5,282 1,310,311 232,855 11,913 501,800 13,047 526,760 1,962 127,246 193,260 54,486 79,953 456,907 $ 24,350,840 I I I I I I i I I I I I I I 52 I I I I I VILLAGE OF GLENVIEIV, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 1999 General government Board of Trustees Special board Legal Emergency Service Disaster Agency Village Manager Finance Irfformation Systems Management Municipal building and grounds Personnel and insurance Public safety Pohce department File department Printing Highways and streets Development and public services Administration Planning and zoning Engineering Public health Cable TV Public works - administration Public works - overhead Public works - street maintenance Public works - traffic Public works - storm water management Pubhc works - snow and ice control Pubhc works - forestry Public works - grounds Building inspection Pension Total expenditures Budget Actual 40,870 $ 27,681 265,325 371,445 484,400 245,833 7,450 5,388 542,855 452,614 662,843 667,691 208,039 214,066 191,679 258,215 2,654,167 2,611,581 5,057,628 4,854,514 6,399,204 6,295,917 6,124,523 6,011,622 159,800 49,724 12,683,527 12,357,263 260,797 264,382 154,371 133,850 563,347 519,028 206,169 193,214 92,713 85,814 315,725 284,503 912,772 1,139,114 258,980 262,966 355,550 250,298 128,350 114,497 271,744 528,859 218,871 201,330 228,441 138,701 684,761 657,836 4,652,591 4,774,392 519,686 515,397 $ 22,913,432 $ 22,501,566 (Continued) 53 VILLAGE OF GLENVIEW, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 1999 I I I General government Board of Trustees Regular salaries Contractual professional services Training Trustee expense Operational material and supplies Speci,M board Contractual services Materials and supplies Land acquisition Legal Contractual and professional services Contractual disbursements Litigation disbursements Books Dues, subscriptions, and memberships Village Attorney retainer Prosecutor retainer Outside litigation Emergency Service Disaster Agency Telephone and telegraph Maintenance of equipment Office supplies Books, pamphlets, and materials Contingencies Small tools Village Manager Regular salaries Temporary salaries Longevity pay Contractual professional services Printing, binding, and publication Postage Budget Actual $ 9,000 $ 8,963 150 2,619 1,000 27,720 13,678 3,000 2,421 40,870 27,681 259,825 234,448 5,500 2,938 134,059 265,325 371,44~ 55,400 57,984 2,000 3,894 20,000 4,986 2,700 3,059 600 595 42,750 42,750 30,950 30,950 330~000 101 ~615 484,400 245,833 1,200 989 4,900 3,742 250 100 500 657 7,450 5,388 408,694 380,715 20,000 5,913 936 624 1,500 1,917 1,900 1,233 55,000 30,212 I I I I I I I i I I I I I I (Continued) 54 I I! I I I VILLAGE OF GLENVIEW, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 1999 General government (Continued) Village Manager (Continued) Dues, subscriptions, and memberships Maintenance of equipment Travel expense Training expense Office Supplies Books, pamphlets, and materials Operational material and supplies Computer supplies Equipment repairs Equipment replacement Machinery or equipment Less transfer to Capital Equipment Replacement Fund Finance General Regular salaries Overtime salaries Temporary salaries Longevity pay Contractual professional services Printing, binding, and publication Postage Dues, subscriptions, and memberships Maintenance of equipment Rentals Travel expense Training expense Office supplies Books, pamphlets, and materials Small tools and equipment Computer supplies Equipment repairs and maintenance Other operating expense Bank charges Budget Actual $ 22,85O $ 18,232 4,200 4,846 11,030 2,002 2,700 1,019 500 212 310 334 1,200 181 2,960 1,899 3,975 3,275 7,000 7,00O 5,100 549,855 7,000 542,855 480,698 500 35,736 4,457 32,930 18,000 500 1,784 4,478 41,895 4,~ Z425 23,500 300 500 5,200 3,896 1,000 662,843 459,614 7,0o0 452,614 484,045 777 44,941 4,456 39,480 9,389 1,414 1,663 4,481 31,037 4,117 2,896 28,489 428 4,235 3,650 1,168 1,025 667,691 (Continued) 55 VILLAGE OF GLENVIEW, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 1999 I I I General government (Continued) Finance (Continued) Info Systems Management Regular salaries Temporary salaries Longevity pay Contracted professional services Telephone and telegraph Dues, subscriptions, and memberships Maintenance of equipment Travel expense Training expense Books, pamphlets, and materials Computer supplies P.C. expansion Machinery and equipment Municipal building and grounds Regular employee salaries Contractual professional services Heating Postage Telephone Maintenance of equipment Maintenance of buildings Rentals Cleaning and household supplies Maintenance materials - buildings Small tools and equipment Employee welfare Buildings and improvements Budget $ 65,484 20,000 660 20,000 15,000 970 57,94,5 1,000 5,950 300 5,400 10,830 4,500 208,039 26,979 3,500 24,000 18,000 45,000 29,600 14,400 13,000 5,000 7,200 500 4,500 191,679 Actual 68,235 13,060 660 22,400 14,822 6,541 55,243 919 8,089 221 5,232 13,699 4,945 214,066 27,260 12,148 16,062 21,800 105,379 29,032 13,364 20,144 2,818 2,550 216 6,281 1,161 258,215 I I I I I I I I I I I I I I (Continued) 56 I I I I I VILLAGE OF GLENVIEW, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 1999 I I I I I I I I I I I I I I General government (Continued) Personnel and insurance Regular Salaries Longevity Pay Contractual professional services Public safety selection and promotion Wellness program Printing, binding, and publications Dues, subscriptions, and memberships Safety program Commission expense Training expense Books, pamphlets and materials FICA payments Employee welfare Insurance Total general government Budget Actual $ 66,264 $ 69,390 936 936 24,000 13,837 31,000 19,198 10,100 3,755 3,000 8,817 865 1,055 400 174 36,900 25,392 1,000 416 509,545 5O4,905 15,600 9,549 1,954,157 1,954,157 2,654,167 $ 5,057,628 2,611,581 $ 4,854,51~4 (Continued) 57 VILLAGE OF GLENVIEW, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 1999 I I I Public safety Police department Regular salaries Overtime salaries Overtime hire back Overtime court time Overtime training Overtime extra detail Temporary salaries Holiday pay Longevity pay Contractual professional services Printing, binding, and publication Heating Postage Telephone Dues and subscriptions Maintenance of equipment Maintenance of buildings Rentals Travel expenses Office supplies Books, pamphlets, and materials Training Uniform allowance Cleartmg and household supplies Maintenance materials - buildings Small tools and equipment Operating materials and supplies P.C. expansion/eraining Employee welfare Violence protection grant Equipment repairs Machinery and equipment Furniture & fixtures Equipment replacement Less transfer to Capital Equipment Replacement Fund Budget $ 4,890,581 130,000 106,000 8,500 174,300 120,000 66,761 118,000 10,000 7,000 4,700 21,000 4,000 62,200 12,900 26,180 9,090 9,000 11,000 61,202 68,625 5,250 8,000 6,850 39,800 24,000 11,000 226,465 40,650 26,150 391,849 6,791,053 391,849 6,399,204 (Continued) Actual 4,885,217 147,039 86,428 106,634 5,462 2,254 128,914 115,959 64,996 94,904 14,063 6,157 4,006 27,367 5,114 55,307 11,597 20,192 7,035 7,408 8,802 75,124 71,051 6,360 6,566 8,017 31,638 19,195 10,648 22,860 184,312 37,510 17,781 393,429 6,689,346 393,429 6,295,917 I I I I I I I I I I I I I I I 58 I I I I VILLAGE OF GLENVIEW, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 1999 I I I Public safety (Continued) Fire department Regular salaries Overtime acting company officer Overt/me call back Overtime hire back Overtime apparatus repair Overtime fire prevention Overtime public education Overtime emergency medical service Overtime hazardous material Overtime FLSA Overtime special rescue Overtime dive team Overtime administrative Overtime training Overtime training instructor Holiday pay Longevity pay Contractual professional services Printing, binding, and publication Heating Postage Telephone Dues, subscriptions, and memberships Maintenance of equipment Maintenance of buildings Rentals Travel expenses Training Uniform and turnouts Office supplies Texts and films Motor vehicle supplies Cleaning supphes Maintenance materials - equipment Maintenance materials - buildings Small tools and equipment Operating materials and supplies Budget 4,818,843 8,500 25,000 70,000 1,000 5,000 15,113 20,200 6,150 47,725 5,000 8,000 2,000 18,000 20,000 178,000 55,212 260,700 1,200 9,000 75O 19,250 2,500 24,400 27,00O 7,457 8,300 17,015 50,0O0 4,000 2,200 4,0O0 10,000 19,000 10,900 23,965 16,100 Actual $ 4,536,819 9,546 13,860 405,196 5,355 4,444 14,924 15,313 6,459 47,108 10,873 5,374 14,568 13,804 162,894 55,972 238,271 1,009 10,462 710 21,502 2,345 11,990 32,624 7,972 9,104 1 7,973 3,194 4,929 2,275 1,378 9,295 9,995 9,394 21,415 14,507 (Continued) 59 VILLAGE OF GLENVIEW, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 1999 I I I Public safety (Continued) Fire department (Continued) Computer supplies Employee welfare Equipment replacement Equipment repairs Buildings/improvements to buildings Furniture and fixtures Machinery and equipment Less transfer to Capital Equipment Replacement Fund Printing Maintenance of equipment Rentals Machinery or equipment Maintenance materials - equipment Operating supphes Small tools and equipment Budget $ 6,500 5,500 254,422 179,193 4,300 450 107,100 6,378,945 254,422 6,124,523 500 34,000 107,100 100 18,000 100 159,800 $ 12,683,527 Total public safety (Continued) Actual 6,651 5,460 254,422 155,170 4,142 488 86,858 6,266,044 254,422 6,011,622 1,394 28,551 1,717 18,062 49,724 $ 12,357,263 I I I I I I I I I I I I I I I 60 I I I VILLAGE OF GLENVIEW, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 1999 I I I Highways and streets Development and public service Administration Regular salaries Overtime Temporary salaries Longevity pay Contractual professional services Printing, binding, and publication Dues, subscriptions, and memberships Maintenance of equipment Rentals Travel expense Training Office supplies Books, pamphlets, and materials Computer supplies Machinery or equipment Equipment replacement Equipment repairs Less transfer to Capital Equipment Replacement Fund Planning and zoning Regular salaries Temporary salaries Longevity Contractual and professional services Books, pamphlets, and materials Printing, binding, and pubhcation Dues, subscriptions, and memberships Travel expense Trairffng Operational supphes Budget Actual $ 228,327 $ 230,582 500 835 21,000 23,069 660 165 2,000 3,045 180 365 625 532 1,150 678 120 52 1,500 896 500 500 350 597 200 36 300 208 1,600 1,600 4,400 4,400 1,785 265,197 4,400 260,797 103,106 3,000 715 25,000 400 12,000 5,650 2,200 1,500 800 154,371 268,782 4,400 264,382 84,069 2,843 536 27,887 339 8,440 5,798 2,138 1,012 788 133,850 (Continued) 61 VILLAGE OF GLENVIEW, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 1999 I I I Highways and streets (Continued) Development and public service (Continued) Engineering Regular salaries Over~hne salaries Temporary salaries Longevity pay Contractual and professional services Printing, binding, and publication Dues, subscriptions, and memberships Maintenance of equipment Travel expense Rentals Training Uniform allowance Books, pamphlets, and materials Operational materials Computer supphes Equipment replacement Equipment repaLrs Machinery and equipment Less transfer to Capital Equipment Replacement Fund Public health Regular salaries Overtime salaries Longevity pay Rentals Contractual professional services Printing, binding, and publication Dues, subscriptions, and memberships Machinery or equipment Maintenance of equipment Budget $ 480,552 10,000 11,200 1,860 6,000 35O 1,290 11,300 2,250 4,200 1,400 175 5,400 2,000 25,760 19,470 5,500 589,107 25,760 563,347 180,048 1,000 1,651 150 1,500 200 1,537 3,000 695 (Contmued) Actual 456,423 14,548 6,042 1,860 2,648 30O 89O 6,481 1,997 394 4,520 942 2,532 1,637 25,760 12,637 5,177 544,788 25,760 519,028 183,626 1,651 98 1,201 132 592 Z820 I I I I I I I I I I I I I I I 62 I I I VILLAGE OF GLENVIEW, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 1999 I I I I i I Highways and streets (Continued) Development and public service (Continued) Public health (Continued) Travel expense Training expense Books, pamphlets, and materials Small tools and equipment Operating materials and supplies Equipment replacement Computer supplies Other operational expense Equipment repairs Less transfer to Capital Equipment Replacement Fund Budget Actual $ 2,550 $ 1,903 2,190 405 550 232 750 302 3,900 (3,570) 7,100 7,100 1,650 591 300 227 4,498 3,004 213,269 7,100 206,169 200,314 7,1 00 193,214 I I ! I I I ! I Cable TV department Regular salaries Temporary salaries Contractual professional services Printing, binding, and publication Postage Telephone Dues, subscriptions, and memberships Maintenance of equipment Travel expense Training Books, pamphlets, and materials Operational materials and supplies Computer supplies Equipment repairs Machinery and equipment Public works - administration Regular salaries Overtime salaries Temporary salaries Longevity pay Contractual professional services 42,829 5,000 5,000 3,500 100 400 750 3,000 250 4,100 250 4,500 3,500 1,534 18,000 92,713 251,935 500 24,846 2,614 6,500 38,433 3A21 2,615 225 117 143 723 5,236 816 1,881 129 6,712 1,886 2,185 21,292 85,814 230,279 21,450 2,269 4,440 I I (Continued) 65 VILLAGE OF GLENVIEW, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 1999 I I I Highways and streets (Continued) Development and public service (Continued) Public works - administration (Continued) Printing, binding, and publication Dues, subscriptions, and memberships Machinery or equipment Maintenance of equipment Rentals Travel expense Training Office supplies Books, pamphlets, and materials Operational materials and supplies Capit~l outlay Computer supplies Public works - overhead Regular s~laries Overtime salaries Temporary salaries Longevity pay Heating Telephone Dues, subscriptions, and memberships Maintenance of equipment Maintenance of building improvements Rentals Travel expense Training Uniform allowance Books, pamphlets, and materials Cleaning supplies Maintenance materials - buildings Small tools and equipment Employee welfare Equipment replacement Equipment repairs Less transfer to Capital Equipment Replacement Fund Budget $ 48O 800 1,600 45O 3,600 5,000 7,500 2,000 100 1,000 5,800 1,000 315,725 450,614 1,900 60,734 18,134 29,000 5,000 96 8,000 17,550 37,150 250 2,500 13,000 200 5,300 6,000 3,100 4,000 316,792 250,244 1,229,564 316,792 912,772 Actual 564 835 5,751 170 3,978 3,424 7,199 2,311 1,693 140 284,503 504,872 1,726 73,701 18,536 14,674 7,917 38 7,731 15,091 3,827 410 2,954 10,833 2,062 9,515 5,009 5,813 316,792 454,315 1,455,906 316,792 1A39,114 I I I I I I I I I I I I I I (Continued) 64 I I i I I VILLAGE OF GLENVIEW, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 1999 I I I I Highway and streets (Continued) Development and public service (Continued) Public works - street maintenance Regular salaries Overtime salaries Temporary salaries Maintenance materials - buildings Small tools and equipment Operating materials and supphes Machinery and equipment Public works - traffic Regular salaries Overtime salaries Temporary salaries Power and light Maintenance of equipment Maintenance of buildings Rentals Sign supplies Small tools and equipment Operational materials and supphes Public works - storm water management Regular salaries Overtime salaries Temporary salaries Maintenance of buildings Maintenance materials - equipment Small tools and equipment Rentals Operating materials and supplies Budget Actual $ 182,452 $ 191,255 11,185 31,752 14,343 10,319 32,000 24,443 2,000 2,550 15,000 1,076 2,000 1,571 258,980 76,634 5,667 5,349 88,000 124,000 22,000 300 28,100 500 5,000 355,550 65,828 4,056 10,716 7,000 6,700 800 1,250 32,000 128,350 262,966 77,8O0 14,597 2,025 78,825 45,793 23,046 7,598 372 242 250,298 64,260 6,768 4,022 8,059 2,758 334 28,296 114,497 (Continued) 65 VILLAGE OF GLENVIEW, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended D~cember 31, 1999 I I I Highways and streets (Continued) Development and public service (Continued) Public works - snow and ice control Regular salaries Overtime salaries Temporary salaries Contractual professional services Maintenance materials - equipment Operating materials and supplies Public works - forestry Regular salaries Overtime salaries Temporary salaries Contractual professional services Dues, subscriptions, and memberships Maintenance of equipment Maintenance of building / improvements Maintenance materials and equipment Small tools and equipment Operational materials and supplies Public works - grounds Regular salaries Overtime salaries Temporary salaries Contractual professional services Maintenance of building / improvements Maintenance materials - equipment Small tools and equipment Operating materials and supplies Budg~ $ 98,725 44,833 1,186 650 18,000 108,350 271,744 191,241 3,889 6,361 1,500 450 1,200 3,000 500 5,480 5,250 218,871 76,624 148 9,569 116,000 5,000 1,000 19,500 228,441 Actual 145,244 105,176 1,784 147,193 48,498 80,964 528,859 172,844 4,691 6,036 2,095 405 937 435 3,702 10,185 201,330 63,549 2,670 53,385 250 686 17,201 138,701 I I I I I I I I I ! I I I I (Continued) 66 I I I I I VILLAGE OF GLENVIEW, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 1999 I I I I I I I i I I I I I I Highways and streets (Continued) Development and public service (Continued) Building inspection Regular salaries Overtime salaries Temporary salaries Longevity pay Contractual professional services Printing, binding, and publication Dues, subscriptions, and memberships Maintenance of equipment Rentals Travel Training Uniform allowance Books, pamphlets, and materials PC expansion Equipment replacement Equipment repairs Machinery and equipment Less transfer to Capital Equipment Replacement Fund Total highways and streets Pension Police pension Firefighters' pension Total pension Budg~ $ 613,623 8,000 4,183 24,500 500 3,165 2,500 770 4,500 5,000 1,675 4,500 2,800 16,000 9,045 700,761 16,000 684,761 $ 4,652,59~1 $ 390,381 129,305 $ 519,68~6 Actual $ 597,997 755 1,338 3,935 23,403 938 4,780 2,479 331 4,381 3,214 1,899 3,021 2,602 16,000 5,852 911 673,836 16,000 657,836 $ 4,774,39~2 $ 387,152 128,245 $ 515,397 67 I I I I I SPECIAL REVENUE FUNDS Illinois Municipal Retirement Fund - The Illinois Municipal Retirement Fund is used to account for the revenues and expenditures associated with providing disability and pension benefits for Glenview employees. This fund also provides the empIoyer with a portion of F.I.C.A. contributions. Motor Fuel Tax Fund - The Motor Fuel Tax Fund is used to account for the activities involved with street maintenance and construction. Financing is provided by the Government's share of state gasoline taxes. State law requires these gasoline taxes to be used to maintain streets. Refuse and Recycling Fund - The Refuse and Recycling Fund is used to account for the financial activity of the community wide recycling program. The program is designed to license and monitor prime scavenger services operating in the residential areas of the Government. Their activities will mainly be involved with the collection and disposition of recyclable items. 911 Communications Fund - The 911 Communications Fund is used to account for the activity of the 911 emergency service system. Financial activity began in 1990 and the system became operational in 1992. GNAS Redevelopment Fund - The GNAS Redevelopment Fund is used to account for the resources and expenditures incurred in the development of the Glenview Naval Air Base land. GNAS Caretaker Fund - The GNAS Caretaker Fund is used to account for the resources and expenditures related to the Village's custodial arrangement with the U.S. Navy regarding caretaking of the Glenview Naval Air Base. I I I VILLAGE OF GLENVIEI~, ILLINOIS Illinois Municipal Retirement Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended December 31, 1999 I I I I I I I I I I I I I I I Revenues Taxes Property taxes - current Property taxes - prior Replacement taxes Intergovernmental Interest Total revenues Expenditures Pension Retirement contributions Other Total expenditures Excess (deficiency) of revenues over expenditures Other financing sources Operating transfers in 911 Communications Fund Waterworks Fund Wholesale Water Fund North Maine Water Fund GNAS Caretaker Fund GNAS Adrnmmstration Fund Sewerage Fund Component unit Library Fund Budget 42,410 2,000 60%410 856,559 8,000 864,559 (255,149) 11,962 65,500 1,001 21,993 7,170 30,376 12,035 132,182 282,219 Excess of revenues and other financing sources over expenditures Fund balance January 1 December 31 $ 27,07O See accompanying notes to financial statements. Actual 540,502 76 20,000 42,410 4,513 607,501 833,393 8,000 841,393 (233,892) 11,962 65,500 1,001 21,993 7,170 30,376 12,035 132,182 282,219 48,327 24,118 $ 72,445 I 70 VILLAGE OF GLENVIEIAr, ILLINOIS Motor Fuel Tax Fund Statement of Revenues, Expenditures, and Changes m Fund Balance - Budget and Actual Year Ended December 31, 1999 I I I Revenues Intergovernmental Allotments Interest Total revenues Expenditures Excess of revenues over expenditures Other financing (uses) Operating transfers (out) Capital Projects Fund Excess (deficiency) of revenues over expenditures and other financing uses Fund balance January I December 31 Budget $ 920,000 17,3oo 937,300 937,300 (1,o94,8oo) Actual $ 952,888 13,311 966,199 966,199 (1,094,800) (128,601) 427,814 $ 299,213 I I I I I I I I I I I I I I See accompanying notes to financial statements. 71 I I I I I VILLAGE OF GLENVIEW, ILLINOIS Refuse and Recycling Fund Statement of Revenues, Expenditures, and Changes m Fund Balance - Budget and Actual Year Ended December 31, 1999 Revenues Charges for services License fee Host conununity revenue Bin sales Refuse bag sales Yard waste sticker sales Tipping fees Interest Total revenues Expenditures General government Dumping costs Refuse bag purchase Yard waste sticker purchase Operational materials & supplies Recycling bins Other operational expenses Printmg~ binding and publications Contractual professional service Total expenditures Excess of revenues over expenditures Fund balance January I December 31 BudKet Actual $ 3,750 $ 3,125 100,000 92,186 2,500 2,826 30,000 25,855 8,000 9,712 1,010,000 987,392 7,000 43,352 1,161,250 1,164,448 70,000 93,975 60,000 30,600 30,000 9,750 1,000 5,000 970,614 739,334 3,000 11 1,000 1,140,614 873,670 $ 20,636 290,778 902,166 $ 1,192,944 See accompanying notes to financial statements. 72 VILLAGE OF GLENVIEW, ILLINOIS 911 Communications Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended December 31, 1999 i i I Charges for services Interest Miscellaneous Total revenues Expenditures Public safety Regular employee salaries Overtime salaries Overtime hire back Holiday pay Longevity pay Contractual professional services Printing, binding, and publications Telephone and telegraph Maintenance of equipment Rentals Uniform allowance Materials and supplies FUtmture & Fixtures FICA payments P.C. expansion/training Total expenditures Excess of revenues over expenditures Other financing (uses) Operating transfers (out) mmois Municipal Retirement Fund Capital Equipment Replacement Fund Excess of revenues over expenditures and other financing uses Fund balance January I December 31 Budget $ 333,400 8,500 128,892 1,000 4,000 1,000 991 5,800 5OO 78,400 14,100 2,100 1,350 1,000 2,000 10,393 5,OOO 15,527 272,053 69,847 (11,962) (40,564) (52,526) $ 17,321 Actual 350,787 12,348 230 363,365 130,124 256 2,891 138 991 75,818 10,980 2,460 1,350 10,221 259 15,527 251,015 112,350 (11,962) (41,014) (52,976) 59,374 271,111 330,485 I I I I I I I I I I I I I I See accompanying notes to financial statements. 73 I I VILLAGE OF GLENVIEW, ILLINOIS GNAS Redevelopment Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended December 31, 1999 Revenues Intergovernmental EDA grant Interest Miscellaneous Total revenues Expenditures General government Highway and stree~ts Excess (deficiency) of revenues over expenditures Other financing sources (uses) Operating transfers in GNAS Bond Fund 1998 G.O. D/S Bond Fund Operating transfers (out) General Fund Illinois Municipal Retirement Fund Capital Equipment Replacement Fund Excess (deficiency) of revenues and other financing sources over expenditures and other financing uses Fund balance January 1 December 31 Budget 3,218,250 3,218,250 (3,218,250) 3,2~,224 (2,000) (30,376) (22,598) 3,218,250 Actual 744,776 611 55,369 8O0,756 2,884,762 99O, O55 3,874,817 (3,074,061) 2,525,000 130,000 (2,000) (30,376) (22,598) 2,600,026 (474,035) (911,269) $ (1,38~5,304) See accompanying notes to financial statements. 74 VILLAGE OF GLENVIE3N, ILLINOIS GNAS Redevelopment Fund Adrnmis~ration Department Schedule of Expenditures - Budget and Actual Year Ended December 31, 1999 I I I General goverrunent Administration Regular salaries Overtime salaries Temporary salaries Longevity pay Contractual professional services Postage Printing, binding, and publication Dues, subscriptions, memberships Telephone and telegraph Maintenance of equipment Maintenance of building/improvements Rentals Travel expense Training Office supplies Maintenance materials Small tools and equipment Power and light Heating Uniform allowance Books, pamphlets, and materials Cleaning supplies Operating materials and supplies Computer supplies FICA payments Employee welfare Transfer to Machinery and Equipment Repair Fund Transfer to Capital Equipment Replacement Fund Insv. rance Other operational expenses Credit card processing fee BuJldings/Impr to Buildings Machinery and equipment Budget Actual 334,983 $ 362,096 12,248 975 3,571 4,290 2,805 2,862 2,094,553 1,770,128 31,000 11,859 60,000 43,904 7,765 4,423 20,000 22,430 6,100 1,597 32,000 24,006 37,800 33,693 51,360 29,250 7,700 2,800 15,000 12,308 1,040 629 1,000 1,194 10,000 2,772 10,000 260 520 106 250 405 700 1,874 46,300 26,578 2,160 2,446 25,342 27,653 1,200 1,758 7,836 11,262 22,598 22,598 97,817 170,349 4,200 3,123 772 270,000 270,000 23,000 36,960 3,240,848 2,907,360 I I I I I I I I i I I I I I (Continued) 75 I I VILLAGE OF GLENVIEW, ILLINOIS GNAS Redevelopment Fund Administration Department Schedule of Expenditures - Budget and Actual Year Ended December 31, 1999 General government (cont.) Less Transfer to Capital Equipment Replacement Fund Total general government Highway and Streets EDA Grant Road design Storm water design Total highway and streets Total expenditures Budget $ 22,598 3,218,250 $ 3,218,250 Actual $ 22,598 2,884,762 966,217 23,838 $ 3,874,817 76 VILLAGE OF GLENVIFvV, ILLINOIS GNAS Caretaker Fund Statement of Revenues, Expenditures, and Changes m Fund Balance - Budget and Actual Year Ended December 31, 1999 I I I Revenues Interest Other Rent proceeds Utilities Re/mbursement Water Sales Total revenues Expenditures General government Excess (deficiency) of revenues over expenditures Other financing sources (uses) Operating transfers in GNAS Bond Fund Series 1995 Fund Operating transfers (out) General Fund Illinois Municipal Retirement Fund Capital Equipment Replacement Fund Excess (deficiency) of revenues over expenditures and other financing uses Fund balance January 1 December 31 Budget $ 500 $ 38,262 34,932 120,000 193,694 893,366 (699,672) 707,842 (2,000) (7,170) 698,672 $ (1,000) Actual 909 58,483 95,526 101,978 256,896 725,949 (469,053) 405,000 (2,000) (7,17o) (54,750) 341t080 (127,973) 96,304 (31,669) I I I I I I I I I I I I I I See accompanying notes to financial statements. 77 I I VILLAGE OF GLENVIEW, ILLINOIS GNAS Caretaker Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 1999 General govemment Cooperative agreement Regular employees salaries Overtime salaries Temporary salaries Contractual professional services Automotive Uniform allowance Office supplies Small tools and equipment Computer supplies FICA payments Water distribution system Regular employees salaries Overtime salaries Temporary salaries Contractual professional services Heating Water purchases Maintenance of building Cleaning and household supplies Maintenance materials - equipment Maintenance materials - building Operational materials and supphes Sanitary Sewer Regular employees salaries Overtime salaries Temporary salaries Contractual professional services Maintenance of equipment Maintenance of building Maintenance materials and equipment Operational materials and supplies Budget $ 11,000 1,000 145,000 800 800 1,000 100 6,276 165,976 34212 1,000 Z0oo 1,500 5~000 100 1,000 125,012 5000 1,000 1,000 28,000 2,100 500 1,000 800 34,900 Actual $ 11,940 831 86 1,400 107,351 6,023 127,631 22,542 7,118 179 1,046 77,708 379 1,017 139 3,974 768 1,530 1,686 7,958 (Continued) 78 VILLAGE OF GLENVIEW, ILLINOIS GNAS Caretaker Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 1999 I I I General government (cont.) Storm drains Regular employees salaries Overtime salaries Temporary salaries Operational materials and supplies Electrical distribution Regular employees salaries Power and lights Contractual professional services Natural gas distribution Regular employees salaries Heating Facility maintenance Regular employees salaries Overtime salaries Temporary salaries Contractual professional services Cleaning/household supplies Maintenance materials - equipment Equipment replacement Small tools and equipment Leasehold improvements Rentals Operational materials and supplies GNA$ - Rent Transportation Transfer to Maintenance and Equipment Repair Fund Budget $ 500 1,000 400 2,500 4,400 2,424 130,000 132,424 13,788 3,000 400 10,500 500 2,000 54,750 1,000 59,000 1,000 9,300 1,000 156,238 19,697 19,697 Actual 623 49 293 965 44 285,145 25,393 31~582 40,817 40,817 14,797 ~062 121 5,899 18,728 62 210 I I I I I I I I I I I I I I (Continued) 79 ! I I I I VILLAGE OF GLENVIEW, ILLINOIS GNAS Caretaker Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 1999 I I I I I I I I I I I I I I I General government (Cont.) Roads and surface maintenance Regular employees salaries Overtime salaries Temporary salaries Contractual professional services Sign supplies Maintenance materials - buildings Operational materials and supplies Grounds and maintenance Regular employees salaries Overtime salaries Temporary salaries Contractual professional services Small tools and equipment Operational materials and supplies Total GNAS Caretaker Expenditures Budget $ 500 5,000 400 8,000 200 13,900 28,000 5O0 619 1,719 $ 893,366 Actual $ 6,847 2,027 211 245 8,567 17,897 1,498 61 136 65,192 205 67,092 $ 725,949 80 DEBT SERVICE FUNDS Corporate Purpose Bond Seties of 1991 - This issue in the amount of $4,165,000 was sold to finance the partial refunding of the Library Bond Series of 1984 and early retirement of the Corporate Purpose Bond Series of 1979. Corporate Purpose Bond Seties of 1993 - This issue in the amount of $7,635,000 was sold to finance various capital projects throughout the Government including, but not limited to, the public works garage, various street projects, and capital purchases. Corporate Purpose Bond Seties of 1994 - This issue in the amount of $8,040,000 was sold to partially refund both the Corporate Purpose Bond Series of 1989 and the Corporate Purpose Bond Series of 1990. Corporate Purpose Bond Seties of 1995 - This issue in the amount of $500,000 was sold to finance the construction of a Sewer Lift Station and other sewer system improvements. General Obligation Bond Anticipation Bond Series of 1995 - This issue in the amount of $60,000,000 was sold to finance the development of the Glenview Naval Air Base which was turned over to the Village in 1995. Corporate Purpose Bond Seties of 1996 - This issue in the amount of $8,435,000 was sold to finance General Obligation Bond Anticipation Bonds that matured in 1996. Corporate Purpose Bond Series of 1998 - These issues in the amounts of $10,000,000 of Series A and $24,400,000 of Series B were sold to finance the development of the Glenview Naval Air Base. o o ~ ,~ I I I I VILLAGE OF GLENVIEW, ILLINOIS Debt Service Funds Combining Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual Year Ended December 31, 1999 (with comparative totals for 1998) I I I (See Following Page) I i I I I I I I I I I I I I I I I I I I I I I I I I I I I I !1 CAPITAL PROJECTS FUNDS Capital Equipment Replacement Fund - The Capital Equipment Replacement Fund is used to account for the funds annually set aside for the eventual replacement of certain capital equipment. Capital Projects Fund - The Capital Projects Fund is used to account for revenues and expenditures involved with all other capital improvements throughout the Government. Village Permanent Fund - This fund is used to account for projects not related to the Glenview Naval Air Base, and will transfer a portion of land sales revenues to retire the debt service for the 1996 General Obligation Bonds. Bond Fund Series 1993 - The Bond Fund Series 1993 is used to account for the proceeds received from the Corporate Purpose Bond Series of 1993. GNAS Bond Fund Series 1995 - This fund is used to account for various development and other projects related to the Glenview Naval Air Base and financed with the General Obligation Bond Anticipation Bond Series of 1995. Glen Land Sales Fund - This fund is used to account for grant funds, land sales, and property tax revenues (via the Tax Increment Finance District) related to the Glenview Naval Air Base. I I ~ I I I I I I ! I I I I I I I I I I I I I ~Z I I ~u © © I I I I I I I I I I I I ENTERPRISE FUNDS Waterworks Fund - The Waterworks Fund is used to account for the provision of water and sewer service to the residents of Glenview. All activity necessary to provide such services is accounted for in this fund including, but not limited to, administration (Director of Public Works), operation, maintenance, financing and related debt service, and billing and collection. Wholesale Water Fund - The Wholesale Water Fund is used to account for the provision of water service to the Citizens Utility Co. enabling the utility to receive Lake Michigan water. North Maine Water and Sewer Fund - The North Maine Water and Sewer Fund is used to account for all financial activity related to the Village providing water and sewer service to an unincorporated area southwest of the Village. This area was formerly served by the North Suburban Public Utilities Company. Sewerage Fund - The Sewerage Fund is used to account for the funds necessary to provide sanitary sewer service to both incorporated and unincorporated Village of Glenview Commuter Parking Lot Fund - The Commuter Parking Lot Fund accounts for the activity involved with, but not limited to, the administration (Finance Director), sale of permits, and maintenance of the commuter parking facilities within the Government. VILLAGE OF GLEN-VIEW, ILLINOIS Enterprise Funds Combining Balance Sheet December 31, 1999 (wi~h comparative totals for 1998) ASSETS Cash Receivables - accounis (net) Advance t~ other funds Due from other funds Fund ~quity Con~ibated capital Retained earntngs Total fund equity fund equity 350,754 $ 95,732 $ 236,151 $ 183,818 $ 20,449 $ 3,396,174 98g, 287 865,000 206,967 150,950 1537,605 957,425 222,833 3,134 8,388 3,022 246 1,611,168 26,726 3,855 59,481 29,254 2362 41,179 119,135 886,9O4 $ 3,816,375 5,607,378 2,067,374 2,717,863 2,116,887 14,790 14,929 1,637,894 1,673,264 6,931,944 1.092.407 2.251.000 673,099 171,645 11,120,095 10,013,328 21,272,649 2512,633 7,414,643 6,329,888 216592 37,746A05 35,702,504 (8,015,660) (426,012) (569,476) (1,790/!02) (158,048) (10,959598) (9,97'7,335) 13,256,989 2,086,621 6,845,167 4,539,486 58,544 26,786,807 25,725,169 20,188,933 $ 3,179,028 $ 9,096,167 $ 5,212.585 $ 230,189 $ 37,906,902 $ 35.738,497 $ 30,881 $ 217$ 288,377 $ 476 $ 20,772 $ 341,223 $ 664,059 1.293 12,294 68,541 82,128 84,756 29.368 1,129 30,497 29,608 13.141 3,117 1.459 407 3,249 21,373 9,118 899,757 128,158 320,963 23,798 11,625 1,384,299 742,859 200,000 408,156 408~156 476,342 974.440 143,786 680,969 432,837 35.644 2,267,676 2,206,702 2,697,270 2,697,270 2,775,477 2,295000 5,875,000 8,170,000 8,784,130 (19,158) (46,963) (66,121) (68,595) 2,275,842 8,325.307 10,801,449 11,491,032 974,440 2419,628 9.206,276 432,837 35,644 13,068,825 13,697,734 2586,154 891,089 3,477,243 3,277.243 16,628,339 759,400 (110,109) 3,888,659 194,545 21,360,834 18,763,520 19,214,493 759,400 (110,109) 4,779,748 194,545 24,838,077 22,040,76.3 $ 20.188.933 $ 3,179,028 .$ 9,096,167 $ 5,212.585 $ 230,18~9 $ 37,906,902 $ 35,738,497 See accompanying notes to financial statements. 88 VILLAGE OF GLENVIEW, ILLINOIS Enterprise Funds Combining Statement of Revenues, Expenses, and Changes in Retained Earnings Year Ended December 31, 1999 (with comparative totals for 1998) I I I I Watenvorks Water Sewer S~werage Parking Lot 1999 199~8 Charges for s~rvic~s Water and sewer charges $ 6,027.686 $ 1,3T1~05 $ 5,589,925 $ 830.473 $ 17,457 $ 13.837~46 $ 13308,742 conneclion charges 115.057 8,115 123,172 2-50,824 remote readers 76~43 76,843 101,543 P~16ng decals and meter fees 194,271 194.271 187,635 Miscellaneous 166.925 57,726 4,877 229~528 254.127 To~l opex~fing revenues 6~86,511 1371,805 5,647,651 838.588 216,605 14.461,160 14,102,871 Adminlstxatio~ 189,884 442,782 31,934 664,600 778.042 Operations 3A41,974 777,092 3.728"512 186,8~8 111.664 8,246,100 8,495,627 Depr~cia lion and amoriJzation 551,799 63.691 235,735 122,734 9,179 983.138 85L738 Total operating expenses 4,183,657 840.783 4.407,029 341~526 120,843 9,893.8~8 10,125.407 Opera~ng income 2,202,854 531,022 1,240.622 497,062 95.762 4~67,322 3,977/~64 lnta~st incom~ 120,105 52~75 49,949 14,960 2.757 240,646 247,010 fiscal charges (15r512) C154~21) (436r287} (606e320) {636,179) 104~93 (101,646) (386.338) 14,960 2,757 065,674) (389,169) Income befo~ operating ~ansfers 2307,447 429,376 854,284 512,022 98"519 4,201,648 3"588,295 Opera~ng t~ansf~rs (out) (1,192.348) (473,201) (697,834) (279,734) (32,000) (2,675,117) (2.683~80) (802.348) (473,201) (697,834) 401,049 (32,000) (1,604.334) (2,013,880) Net L~come (loss) 1,305.099 (43,825) 156,450 913,071 66~519 2~97,314 1~74A15 JanuaD, 1 15.123,240 803225 (266~59) 2,975~588 128,026 18,763~20 17,189,105 D~cember31 $ 16,628~39 $ 759,400 $ (n0,109) $ 3,888,659 $ 194,545 $ 21360~34 $ 18,763.520 I I I I I I I I I I I I I See accompanying notes to financial statements. 89 I I I I I VILLAGE OF GLENVIEI, V, ILLINOIS Enterprise Funds Combining Schedule of Changes in Contributed Capital Year Ended December 31, 1999 (with comparative totals for 1998) i I I I I I I I I I I I I I Increases Capital grant - IEPA Decreases To~als Waterworks Sewerage 1999 1998 $ 200,000 $ $ 200,000 $ Net increase 200,000 200,000 Contributed capital January 1 December 31 2,386,154 891,089 3,277,243 3,277,243 $ 2,586,154 $ 891,089 $ 3,477,243 $ 3,277,243 I I ! ! VILLAGE OF GLENVIEW, ILLINOIS Waterworks Fund Statement of Revenues, Expenses, and Changes m Retained Earnings - Budget and Actual Year Ended December 31, 1999 Water charges Water meter repair charges Water connection charges Miscellaneous Late payment fees Brass fittings Turn on charge Other Operating expenses excluding depreciation Administration Operations Supply and metering Pumping station-east Pumping station-west Distribution system Overhead Total operating expenses excluding depreciation Operating income before depreciation Depreciation Operating income Nonoperatmg revenues (expenses) Interest expense and fiscal charges Income before operating transfers Operating transfers in (out) General Fund Wholesale Water Fund Illinois Municipal Retirement Fund N. Maine Water/Sewer Fund GNAS Bond Series 1995 Debt Service Fund Net income (loss) Retained earnings January 1 December 31 Budget Actual $ 5,811,080 $ 6,027,686 500 50,000 115,057 30,000 76,84S 68,000 79,709 11,000 24,536 10,000 17,840 5,000 5,080 13,000 28,021 1,500 11,739 6,000,080 6,386,511 1,255,436 189,884 2,440,457 2,400,396 225,827 143,974 163,188 72,076 587,897 486,763 569,669 338,765 5,242,474 3,631,858 757,606 2,754,653 551,799 757,6O6 2,202,854 38,1300 120,105 (15,512) 38,000 104,593 795,606 2,307,447 (457,sos) (¢57,8o8) 370,000 370,000 (65,500) (65,500) 20,000 20,000 (200,0OO) (200,O00) (591,702) (469,040) (925,o10) (8o2,348) $ (129,404) 1,505,099 15,123,240 $ 16,628,339 See accompanying notes to financial statements. 92 VILLAGE OF GLENVIEI, V, ILLINOIS Waterworks Fund Schedule of Operating Expenses - Budget and Actual Year Ended December 31, 1999 I I I Administration Contractual professional services Printing, binding, and publication Postage Computer supplies FICA payment Machinery and equipment Improvements other than building Less nonoperating expenses Fixed assets capitalized Total administration Operations Supply and metering Regular salaries Overtime salaries Temporary salaries Contractual professional services Water Maintenance of buildings Operational materials and supplies Total supply and metering Pumping station-east Regular salaries Overtime salaries Temporary salaries Contractual professional services Power and light Heating Telephone Maintenance of building Cleaning and household supplies Maintenance materials - equipment Maintenance materials - building Operating materials and supplies Total pumping station-east Budget Actual $ 1,000 $ 1,232 300 106 13,500 1,500 14,465 57,281 50,901 1,510,000 1,066,325 103,766 103,766 615,000 Z302,347 1,236,795 1,046,911 1,046,911 1,255,436 189,884 53,168 75,176 2,306 9,342 1,708 240 86,00O 40,726 2,243,075 2,245,169 6,000 2,539 48,200 27,204 2,440,457 2,400,396 39,730 25,972 13,051 1Z060 296 16 17,350 6,268 110,000 81,203 4,500 4,143 4,000 3,595 25,500 4,913 100 38 3,00O 504 1,0OO 875 7,3OO 4,387 225,827 143,974 I I I I I I I I I I I I I I (Continued) 93 I I VILLAGE OF GLENVIEIN, ILLINOIS Waterworks Fund Schedule of Operating Expenses - Budget and Actual Year Ended December 31, 1999 Operations (Continued) Pumping station-west Regular salaries Overtime salaries Temporary salaries Contractual professional services Power and light Heating Telephone Maintenance of building Cleaning and household supplies Maintenance materials - equipment Maintenance materials - building Operating materials and supplies Total pumping station-west Distribution system Regular salaries Overtime salaries Temporary salaries Contractual professional services Maintenance of equipment Maintenance of buildings Rentals Sign supplies Maintenance materials - buildings Small tools & equipment Operating materials and supplies Machinery and equipment Total distribution system Budget Actual $ 25,281 $ 13,669 5,344 6,804 113 124 12,200 2,891 85,000 41,286 2,000 1,071 2,000 1,039 20,500 3,538 100 5,000 913 750 119 4,900 622 163,188 290,272 51,581 13,244 33,000 500 87,000 300 1,500 90,500 10,000 10,000 58Z897 72,076 235,557 85,499 3,892 25,389 63,638 378 53,222 230 9,689 9,269 486,763 (Continued) 94 VILLAGE OF GLENVIL~W, ILLINOIS Waterworks Fund Schedule of Operating Expenses - Budget and Actual Year Ended December 31, 1_999 I I I Budget Actual Operations (Continued) Overhead Regular salaries $ 227,117 $ 187,744 Overtime salaries 237 753 Temporary salaries 1,609 885 Longevity pay 5,064 5,062 Contractual professional services 3,017 Postage 300 75 Telephone 1,100 1,094 Dues, subscriptions, and memberships 3,230 4,949 Maintenance of equipment 8,750 3,694 Rentals 20,900 1,402 Travel expense 2,500 1,202 Traimng 6,600 1,866 Uniform allowance 7,245 7,569 Office supplies 750 1,205 Books, pamphlets, and materials 300 41 Small tools and equipment 5,850 5,849 Operational materials and supplies 2,000 451 Computer supplies 1,800 Employee welfare 1,000 1,111 Equipment replacement 150,933 Equipment repairs 121,234 108,925 Machinery and equipment 1,150 1,871 Total overhead 569,669 338,765 $ 5,242,474 Total operating expresses excluding depreciation $ 3,631,858 I I I I I I I I I I I I I I 95 I I t VILLAGE OF GLENVIEW, ILLINOIS Wholesale Water Fund Statement of Revenues, Expenses, and Changes m Retained Earnings - Budget and Actual Year Ended December 31, 1999 I I I Operating revenues Water sales Operating expenses excluding depreciation Operations Supply and metering Pumping station Distribution system Total operating expenses Operating income before depreciation Depreciation and amortization Operating income Nonoperating revenues (expenses) Interest income Interest expense Income before operating transfers Operating transfers in (out) Waterworks Fund Illinois Municipal Retirement Fund General Fund Net (loss) Retained earnings January 1 December 31 Budget $ 1,4oo, ooo 775,024 64,460 2,952 842,436 557,564 557,564 41,500 (155,348) (1~3,848) 443,716 (370,000) 0,OOl) (lO2,2oo) (473,2o~) $ (29,485) Actual $ 1,371,805 731,120 43,523 2,449 777,092 594,713 63,691 531,022 52,875 (154,521) 0Ol,646) 429,376 (370,000) (1,OOl) (lO2,2oo> (473,201) (43,825) 803,225 $ 759,400 I I I l l I I ! I I I I l I See accompanying notes to financial statements. 97 I I I I I VILLAGE OF GLENVIEYV, ILLINOIS Wholesale Water Fund Schedule of Operating Expenses - Budget and Actual Year Ended December 31, 1999 I I I I I ! Supply and metering Water purchases Maintenance of buildings FICA payments Operational material and supplies Total supply and metering Pumping station Regular salaries Overtime salaries Temporary salaries Contractual professional services Power and light Telephone Maintenance of buildings Operational materials and supplies Equipment rentals Total pumping station Budget $ 766,500 1,000 1,195 600 5,729 775,024 6,318 4,542 3,050 200 48,000 1,000 750 100 500 64,460 Distribution system Regular salaries Overtime salaries Temporary salaries Contractual professional service Maintenance of buildings Total distribution system 804 148 2,952 $ 842,436 Total operating expenses excluding depreciation Actual $ 724,190 1,035 166 5,729 731,120 7,149 4,912 17 77 30,358 372 138 50O 43,523 1,325 124 1,000 2,449 $ 777,092 98 I I I I I I I I I I i I I I I I I I I I VILLAGE OF GLENVIEW, ILLINOIS North Maine Water and Sewer Fund Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual Year Ended December 31, 1999 I I I I I I I I I I I I I I I Operating revenues Charges for services Water charges Sewer charges Miscellaneous New water meters Late payment fees Turn on charge Operating expenses excluding depreciation Administration Operations Supply and metering Pumping station Distribution system Collection system Total operaling expenses Operating income (loss) before depreciation Depreciation Operating income (loss) Nonoperating revenues (expenses) Interest income Interest expense Income (loss) before operating transfers Operating transfers (out) General Fund Waterworks Fund Capital Equipment Replacement Fund Capital Projects Fund Illinois Municipal Retirement Fund Net income (loss) Retained earnings January 1 December 31 Budget $ 4,830,000 325,000 2,000 60,000 4,750 5,221,750 403,879 3,590,778 62,485 987,467 221,206 5,265,815 (44,065) (44,065) 40,000 (437,689) (397,689) (441,754) (381,981) (20,000) (36,860) (237,000) (21,993) (697,834) $ (1,139,588) See accompanying notes to financial statements. Actual $ 5,239,585 350,340 804 54,990 1,932 5,647,651 442,782 3,449,217 47,952 191,207 40,136 4,171,294 1,476,357 235,735 1,240,622 49,949 (436,287) (386,338) 854,284 (381,981) (20,000) (36,860) (237,000) (21,993) (697,834) 156,450 (266,559) $ (110,109) 100 VILLAGE OF GLENVIEI, V, ILLINOIS North Maine Water and Sewer Fund Schedule of Operating Expenses - Budget and Actual Year Ended December 31, 1999 Budget Actual I I I Administration Regular salaries Overtime salaries Temporary salaries Longevity pay Contractual professional services Outside Litigation Acquisition costs Cost of issuance Printing, binding, and publication Postage Uniform allowance FICA payments Employee welfare Equipment repairs Rentals Computer supplies Machinery or equipment Total administration Supply and metering Regular salaries Overtime salaries Temporary salaries Water purchases Contractual professional services Maintenance of building and improvements Operating materials and supplies Meter replacement Total supply and metering Pumping station Regular salaries Overtime salaries Temporary salaries Contractual professional service Operational expense Power and light Telephone Maintenance of buildings Pump repair Cleaning and household supplies Total pumping station $ 41,378 653 197 825 159,775 5,000 6.0O0 3,000 2,750 25,750 75 19,206 30,800 2,500 30,OO0 75,970 403,879 33,268 1.010 3,000 3,437,500 40.00O 6,00O 10,000 60,O00 3,590,778 16,138 3,147 500 18.000 2,50O 7,00O 5,600 5,000 4.500 100 62,485 44,592 523 4.580 179,503 44.675 1.402 7,348 1,748 20,047 25,775 2~960 145 15,514 75,970 442,782 47,325 5,317 4,677 3,296905 17,974 4,235 4,340 66,444 3,449,217 15,542 5,785 73 Z690 1,697 6.319 ~493 1,373 5,933 47 47,952 I I I I I I I I I I I I I I (Con.hued) 101 I ! ! I VILLAGE OF GLENVIEW, ILLINOIS North Maine Water and Sewer Fund Schedule of Operating Expenses - Budget and Actual Yeozc Ended December 31, 1999 I I I Operations (Continued) Distribution system Regular salaries Overtime salaries Temporary salaries Contractual professional service Maintenance of building Maintenance materials - building Rentals Operational materials and supplies System improvements Machinery and equipment Automotive Less nonoperating expenses Fixed assets capitalized Total distribution system Collection system Regular salaries Overtime salaries Temporary salaries Contractual professional services Maintenance of building Maintenance materials - equipment Small tools and equipment Operating materials and supplies System improvements Total collection systems Total operating expenses excluding depreciation Budget Actual $ 83,212 $ 76,314 22,772 28,624 500 5,752 30,000 956 5Z500 35,823 46,300 32,373 300 180 5,000 8,191 750,000 33,679 10,000 1Z432 30,000 1,030,584 43,117 987,467 43,708 6,345 3,603 3,000 30,500 4,800 250 4,000 125,000 221,206 $ 5,265,815 234,324 43,117 191,207 17,851 3,943 228 7,091 4,667 827 450 5,000 40,136 4,171,294 102 I I I I I I I I I I I I I I I I I I I ! VILLAGE OF GLENVIEW, ILLINOIS Sewerage Fund Statement of Revenues, Expenses, and Changes in Retained Earnings ~ Budget and Actual Year Ended December 31, 1999 I I t I I I I I I I I I i I Operating revenues Charges for services Sewer charges Sewer connection charges Total operating revenues Operating expenses excluding depreciation Administration Operations Pumping station Collection Total operating expenses Operating income before depreciation Depreciation Operating income Nonoperating revenue interest income Income before operating transfers Operating transfers (out) General Fund Illinois Municipal Retirement Fund Capital Equipment Replacement Fund Capital Projects Fund Debt Service Fund Net Income (loss) Retained earnings January 1 December 31 Budg~ $ 815,061 8,000 823,061 286,863 38,597 169,315 494,775 328,286 328,286 1~500 34Z786 (62,539) (12,035) (17,882) (187,278) (279,734) 63.052 Actual $ 83O,473 8,115 838,588 31,934 21,219 165,639 218,792 61%796 12Z734 497,062 1%960 51Z022 (62,539) (12,035) (17,882) 680,783 (187,278) 401,049 913,071 2,975,588 $ 3.888.659 I I See accompanying notes to financial statements. 104 VILLAGE OF GLENVIEW, ILLINOIS Sewerage Fund Schedule of Operating Expenses - Budget and Actual Year Ended December 31, 1999 ! I Administration Contractual professional services Printing, binding, and publications Postage Office supplies Computer supplies FICA payments Equipment repairs and fuel Improvements other than building Total administration Operations Pumping Station General Regular salaries Overtime salaries Temporary salaries Power and light Heating Telephone and telegraph Maintenance of equipment Operational materials and supplies Heatherfield Lift Station Regular salaries Temporary salaries Power and light Heating Telephone and telegraph Maintenance of equipment Operational materials and supplies Total pumping station Budget $ 750 100 100 150 250 10,534 41,041 225,000 8,938 286,863 9,125 2,76O 212 4,000 1,500 800 4,000 1,200 23,597 5,000 500 4,000 1,500 800 2,000 1,200 15,000 38,597 Actual 89 25 12,085 8,097 2,7OO 8,938 31,934 8,971 1,321 29 812 1,081 684 1,206 14,104 6,570 526 19 7,115 21,219 I I I I I I I i I I I I I I (Continued) 105 ! i I I I VILLAGE OF GLENVIEW, ILLINOIS Sewerage Fund Schedule of Operating Expenses - Budget and Actual Year Ended December 31, 1999 t i I I Operations Collection system Regular salaries Overtime salaries Temporary salaries Contractual professional services Maintenance of equipment Maintenance of buildings Rentals Maintenance materials Small tools & equip Operational materials and supplies Machinery and equipment System improvements Less nonoperating expenses Fixed assets capitalized Total collection system Total operating expenses Budget Actual $ 103,202 $ 118,029 6,353 16,900 7,48O 5,62O 6,000 143 3,800 2,315 13,000 9,928 5,380 560 5,000 1,937 600 483 18,500 9,724 5,600 8,090 945,783 174,915 1,119,512 5,600 953,873 169,315 165,639 $ 494,775 $ 218,792 106 I I I I i ! ! I I I l I I i I I I I VILLAGE OF GLENVIEW, ILLINOIS Commuter Parking Lot Fund Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual Year Ended December 31, 1999 Operating revenues Charges for services Meter fees Parking decals Miscellaneous Total operating revenues Operating expenses Operations Depreciation Total operating expenses Operating income Nonoperatmg revenue Interest income Income before operating transfers Operating transfers (out) General Fund Net income (loss) Retained earnings January 1 December 31 Budget Actual $ 20,000 $ 17,457 180,000 194,271 3,000 4,877 203,000 194,629 194,629 8,371 1,000 9,371 (32,000) $ (22,629) 216,605 111,664 9,179 120,843 95,762 2,757 98,519 (32,000) 66,519 128,026 $ 194,54_~_.__~5 See accompanying notes to financial statements. 108 VILLAGE OF GLENVIEW, ILLINOIS Commuter Parking Lot Fund Schedule of Operating Expenses - Budget and Actual Year Ended December 31, 1999 I I I Operations Regular employee salaries Overtime salaries Temporary salaries Contractual professional services Printing, binding, and publications Power and light Heating Postage Telephone and telegraph Maintenance of buildings Rentals Cleaning/household supplies Maintenance materials Small tools and equipment Operations materials Machinery and equipment Total operating expenses excluding depreciation Budget Actual $ 23,500 $ 18,203 653 1,771 6,026 5,157 60,000 29,867 500 104 12,000 12,910 3,600 1,655 700 338 500 362 17,250 13,489 25,000 17,734 1,500 1,664 2,000 1,387 400 102 14,000 5,921 26,000 1,000 1,000 $ 194,629 $ 111,664 I I I i I I I I I I I I I I 109 I I I I I INTERNAL SERVICE FUNDS Municipal Equipment Repair Fund - The Municipal Equipment Repair Fund is used to account for the costs of repairing and maintaining all vehicles of the Government. These costs include labor, material, fuel, and fixed overhead of the Government's repair facility. Insurance Fund - The Insurance Fund is used to account for the financial activity of the Government's entire insurance program. In addition to conventional primary insurance, the Village is a member of the High-Level Excess Liability Pool (HELP) which provides excess liability coverage. Also, the Government provides health and life insurance by participating in the Intergovernmental Personnel Benefit Cooperative (IPBC). I I I VILLAGE OF GLENVIEW, ILLINOIS Internal Service Funds Combining Balance Sheet December 31, 1999 (with comparative totals for 1998) ASSETS Current assets Cash Investments Receivables Accounts Accrued interest Prepaid Expenses Due from other funds Deposits Total assets LIABILITIES AND RETAINED EARNINGS Current liabilities Accounts payable Claims payable Due to other funds Total liabilities Retained earnings Total liabilities and retained earrtings Municipal Equipment Repair Totals Insurance 1999 1998 $ 128,801 $ 255,262 $ 384,063 $ 1,181,093 100,000 2,585,062 Z685,062 1,510,073 4,638 6,590 11,228 6,445 46 44,110 44,156 14,487 220,26O 33,268 72,532 105,800 1,249,085 1,249,085 1,188,616 $ 266,753 $ 4,212,641 $ 4,479,394 $ 4,120,974 25,834 $ 8,268 $ 34,102 $ 125,305 1,873 201,222 203,095 218,650 94,592 156,071 250,663 408,106 12Z299 365,561 487,860 752,061 144,454 3,847,080 3,991,534 3,368,913 $ 266,753 $ 4,212,641 $ 4,479,394 S 4,120,974 See accompanying notes to financial statements. 111 VILLAGE OF GLENVIEW, ILLINOIS Internal Service Funds Combining Statement of Revenues, Expenses, and Changes in Retained Earnings Year Ended December 31, 1999 (with comparative totals for 1998) I I I I Operating revenues Charges for services Insl~roa-lce recoveries Miscellaneous Total operating revenues Operating expenses Operations Operating income Nonoperating revenues Interest income Net income before operating transfers Operating transfers (out) Capital Equipment Replacement Fund Net income Retained earnings January 1 December 31 Municipal Equipment Repair Totals Insurance 1999 1998 977,304 $ 2,628,311 $ 3,605,615 $ 3,421,383 10,582 10,582 13,512 86,962 253,275 340,237 410,001 1,074,848 2,881,586 3,956,434 3,844,896 827,998 2,555,554 3,383,552 3,640,845 246,850 326,032 572,882 204,051 3,151 113,781 116,932 110,777 250,001 439,813 689,814 314,828 (67,193) (67,193) (7,500) 182,808 439,813 622,621 307,328 (38,354) 3,407,267 3,368,913 3,061,585 $ 144,454 $ 3,847,080 $ 3,991,534 $ 3,368,913 I I I I I I I I I I I I I See accompanying notes to financial statements. 112 I I I I i VILLAGE OF GLENVIEW, ILLINOIS Internal Service Ftmds Combining Statement of Cash Flows Year Ended December 31, 1999 (with comparative totals for 1998) I I I Cash flows from operating activities Operating income Adjustments to reconcile operating income to net cash provided by operating activities Changes in assets and liabilities Accounts receivable PrepoAd expenses Deposits Due from other funds Accotmts payable Due to other funds Claims payable Cash flows from non capital financing activities Operating transfer (out) Cash flows from investing activities Purchase of investments Sale of investments Interest Net increase (decrease) in cash and cash equivalents Cash and cash equivalents January 1 December 31 Municipal Equipment Repair Totals Insurance 1999 1998 $ 246,850 $ 326,032 $ 572,882 $ 204,051 (828) (3,957) (4,785) 2,655 220,260 220,260 (220,260) (60,469) (60,469) (33,268) (72,532) (105,800) 183,707 (95,399) 4,196 (91,203) (116,324) 93,742 (251,185) (157,443) 386,759 1,873 (17,428) (15,555) 66,413 212,970 144,917 35~887 507,001 (67,193) (67,193) (7,500) (100,000) (1,074,989) (1,174,989) (1,510,073) 208,043 3,107 84,158 87,265 10Z676 (96,893) (990,831) (1,087,724) (1,194,354) 48,884 (845,914) (797,030) (694,853) 79,917 1,101,176 1,181,093 1,875,946 $ 128,801 $ 255,262 $ 384,063 $1,181,093 See accompanying notes to financial statements. 113 VILLAGE OF GLENVIEW, ILLINOIS Municipal Equipment Repair Fund Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual Year Ended December 31, 1999 I I I Operating revenues Charges for services Insurance recoveries Miscellaneous Total operating revenues Operating expenses Operations Operating income Nonoperating revenues Interest income Income before operating transfers Operating transfer (out) Capital Equipment Replacement Fund Net income Retained earnings January December 31 1999 BudKet Actual $ 909,119 $ 977,304 7,500 10,582 35,000 86,962 951,619 1,074,848 899,067 827,998 52,552 246,850 750 3,151 53,302 250,001 (7,500) (67,193) $ 45,802 182,808 (38,354) $ 144,454 I I I I I I I I I I I I I I See accompanying notes to financial statements. 114 I I I I I VILLAGE OF GLENVIEW, ILLINOIS Municipal Equipment Repair Fund Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual Year Ended December 31, 1999 I I I Operations Regular salaries Overtime salaries Temporary salaries Longevity pay Contractual professional services Maintenance of equipment Maintenance of buildings Accident repairs Training Uniform allowance Fuel Motor vehicle supplies Cleaning and household supplies Maintenance materials - equipment Maintenance materials - buildings Small tools and equipment Equipment repairs Machinery and equipment Total operations Budg~ $ 316,280 7,765 8,818 4,183 1,000 86,500 20,000 1,000 6,750 200,000 55,000 5,000 120,000 6,500 4,000 7,796 48,475 $ 899,06~7 Actual $ 265,036 13,651 6,122 4,140 6,788 65,003 3,764 11,950 971 6,983 176,970 57,968 4,631 128,047 8,691 3,876 63,407 $ 827,99~8 115 VILLAGE OF GLENVIEW Insurance Fund Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual Year Ended December 31, 1999 I I I Operating revenues Charges for services Fund charges Miscellaneous Insurance premium retirees Returned premiums Other Total operating revenues Operating expenses Operations Health insurance Dental insurance Excess liability Unemployment benefits General insurance program PTM policy Property/casualty claims Workers compensation insurance Clanns settlement Operating income (loss) Nonoperating revenues Interest income Net income Retained earnings January 1 December 31 Budget Actual 2,555,779 $ 2~628~311 156,000 166,386 69,543 25,000 17,346 500 181,500 253,275 2,737,279 2,881,586 2,054,416 1,843,460 76,75O 89,357 73,000 73,170 30,000 16,214 330,000 294,267 15,710 15,708 100,000 198,410 130,000 28,197 15,000 (3,229) 2,824,876 2,555,554 (87,597) 326,032 94,000 113,781 $ 6,403 439,813 3,407,267 $ 3,847,O8O I I I I I I I I I I I I I I See accompanying notes to financial statements. 116 I I ! ! TRUST AND AGENCY FUNDS Expendable Trust Escrow Deposit Fund - The Escrow Deposit Fund is used to account for the funds placed on deposit with the Government by building contractors working within the Government's limits. Interest earned on escrow deposits is annually transferred to the Corporate Fund. Deposit Fund - The Deposit Fund is used to account for money on deposit with the Government being held on a temporary basis, such as security deposits for use of the Government's equipment. Police Department Special Account Fund - The Police Department Special Account Fund is used to account for funds received from the Cook County Clerk of the Circuit Courts' office to be used in various types of investigations. Pension Trust Police Pension Fund - The Police Pension Fund is used to account for the resources necessary to provide disability and retirement benefits to personnel of the Glenview Police Dep~u'tment. Firefighters' Pension Fund - The Firefighters' Pension Fund is used to account for the resources necessary to provide disability and retirement benefits to personnel of the Glenview Fire Department. Agency Special Service Areas Fund - This fund accounts for various special service area bond issues. Arbitrage Rebate Fund - This fund accounts for the recording and payment of any arbitrage rebates payable. VILLAGE OF GLENVIEW, ILLINOIS Pension Trust Funds Combining Statement of Plan Net Assets December 31, 1999 I I I Police Fire fighters' Pension Pension Totals ASSETS Cash and cash equivalents $ 78,838 $ 144,458 $ 223,296 2,399 300,088 302,487 21,911,891 35,430,031 57,341,922 3,638,842 875,926 4,514,768 25,550,733 36,305,957 61,856,690 25,631,970 36,750,503 62,382,473 1,500 1,500 3,000 1,200 1,700 2,900 2,700 3,200 5,900 Receivables Accrued interest Investments, at fair value U. S. government obligations Certificates of deposit Total assets LIABILITIES Accounts payable Due to other funds Total liabilities NET ASSETS HELD IN TRUST FOR PENSION BENEFITS (A schedule of funding progress for each plan is presented following the notes to financial statements) $ 25,629,270 $ 36,747,303 $ 62,376,573 I I I I I I I I I I I i I I See accompanying notes to financial statements. 118 I I ! I I I VILLAGE OF GLENVIE~', ILLINOIS Expendable Trust Funds Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Year Ended December 31, 1999 (with comparative totals for 1998) I I I I I I I I i I I I I Fines and forfeits Interest Miscellaneous Other Total revenues Expenditures Public safety over expenditures Other financing (uses) Operating transfers (out) General Fund over expenditures and other financing uses Fund balances January 1 December 31 Police Department Escrow Special Deposit Deposit Account Totals 1999 1998 $ $ $ 4,162 199,182 6,200 326 $ 4,162 $ 14,260 205,708 251,332 1,620 199,182 6,200 4,488 209,870 267,212 3,465 3,465 7,469 199,182 6,200 1,023 206,405 259,743 (194,993) (194,993) (127,215) 4,189 6,200 1,023 11,412 132,528 120,593 29,880 13,824 164,297 31,769 $124,782 $ 36,080 $ 14,847 $175,709 $164,297 I I See accompanying notes to financial statements. 119 VILLAGE OF GLENVIEW, ILLINOIS Pension Trust Funds Combining Statement of Changes in Plan Net Assets Year Ended December 31, 1999 Additions Contributions - employer Contributions - plan members Investment income Net (depreciation) in fair value of investments Interest earned on investments Total additions Deductions Pensions and refunds Miscellaneous Contractual professional services Total deductions Net (decrease) Net assets held in trust for pension benefits January I December 31 Police Firefighters' Pension Pension Total $ 387,208 $ 157,476 $ 544,684 360,809 372,489 733,298 (1,562,740) (1,237,185) (2,799,925) 14,257 530,838 545,095 (800,466) (176,382) (976,848) 776,223 959,779 1,736,002 5,287 4,4'15 9,702 781,510 964,'194 1,745,704 (1,581,976) (1,140,576) (2,72Z552) 27,211,246 37,887,879 65,099,125 $ 25,629,270 $ 36,747,303 $ 62,376,573 I I I I I I I I I i I I I I See accompanying notes to financial statements. 120 I I I I I VILLAGE OF GLENVIEIvV, ILLINOIS Police Pension Fund Statement of Changes in Plan Net Assets - Budget and Actual Year Ended December 31, 1999 I I I I I I I I I I I I I I Additions Contributions - employer Property taxes - current Property taxes - prior Contributions - employees Investment income Net appreciation (depreciation) in fair value of investments Interest earned on investments Total additions Operatmg expenses Retirement pension Widow pension Disability pension Miscellaneous Contractual professional services Total deductions Net increase (decrease) Net assets held in trust for pension benefits January 1 December 31 Budget Actual 390,381 $ 387,159 49 372,700 360,809 1,452,000 2,215,081 717,854 91,004 34,219 14,100 857,177 $ 1,357,904 (1,562,740) 14,257 (800,466) 651,000 91,004 34,219 5,287 781,510 (1,581,976) 27,211,246 $ 25,629,270 I I See accompanying notes to financial statements. 121 VILLAGE OF GLENVIEW, ILLINOIS Firefighters' Pension Fund Statement of Changes m Plan Net Assets - Budget and Actual Year Ended December 31, 1999 I I I Additions Contributions - employer Taxes Property taxes - current Property taxes - prior Foreign fire insurance tax Contributions - employees Investment income Net appreciation (depreciation) in fair value of investments Interest earned on investments Total additions Budget Actual 129,305 $ 128,238 27 29,211 380,787 372,489 (1,237,185) 2,232,500 530,838 2,742,592 (176,382) Deductions Retirement pension Widow pension Disability pension Miscellaneous Contractual professional services Total deductions Netmcrease (decrease) 920,110 739,115 50,411 50,411 170,924 170,253 12,100 4,415 1,153,545 964,194 $ 1,589,047 (1,140,576) Net assets held in trust for pension benefits January I December 31 37,887,879 $ 36,747,303 See accompanying notes to financial statements. I ! I I I I I I I I I I I I I 122 I I I VILLAGE OF GLENVIEW, ILLINOIS Agency Funds Combining Statement of Changes in Assets and Liabilities Year Ended December 31, 1999 I I I I I I I I i I I I I I All Funds ASSETS Cash Receivables- property taxes Receivables- accrued interest Total assets LIABILITIES Arbitrage payable Due to bondholders Total liabilities Special Service Areas Fund ASSETS Cash Receivables LIABILITIES Due to bondholders Arbitrage Rebate Fund ASSETS Cash Receivables- accrued interest LIABILITIES Arbitrage payable Balances Balmaces lanuary 1 Additions Deductions December 31 $ 1,852,781 $ 71,332 $ 2,210 $ 1,921,903 150,158 7,079 14,3,079 10,164 23,321 33,485 $ 2,013,103 $ 94,653 $ 9,289 $ 2,098,467 $ 1,842,580 $ 94,653 $ $ 1,937,233 170,523 145,463 154,752 161,234 $ 2,013,103 $ 240,116 $ 154,752 $ 2,098,467 $ 20,365 $ $ 2,210 $ 18,155 150,158 7,079 143,079 170,523 $ $ 9,289 $ 161,234 170,5Z3 $ 145,463 $ 154,752 $ 161,234 1,832,416 $ 71,332 $ $ 1,903,748 10,164 23,321 33A85 1,842,580 $ 94,653 $ $ 1,937,233 1,842,580 $ 94,653 $ $ 1,937,233 See accompanying notes to financial statements. 123 I I I I I GENERAL FIXED ASSETS ACCOUNT GROUP General fixed assets are those fixed assets used in operations accounted for in governmental funds. General fixed assets include all fixed assets of the Village not accounted for in the Enterprise Funds. I I I VILLAGE OF GLENVIE3Ar, ILLINOIS General Fixed Assets Account Group Schedule of General Fixed Assets - by Source December 31, 1999 (with comparative totals for 1998) I I I I I I I I I I I I I I GENERAL FIXED ASSETS Land Buildings and improvements Equipment Furniture Office equipment INVESTMENT IN GENERAL FIXED ASSETS General revenues Bond issues 1999 $ 5,005,095 10,089,432 8,522,213 295,072 677,101 $ 24,588,913 $ 20,789,634 3,799,279 $ 24,588,913 1998 $ 4,585,095 9,676,414 Z356,776 295,072 618,715 $ 22,532,07~2 $ 18,732,793 3,799,279 $ 22,532,072 124 < < I I I I I I I I I I I I I I I I I VILI~GE OF GLENVIEW, ILLINOIS General Fixed Assets Account Group Schedule of Changes in General Fixed Assets - by Function and Activity Year Ended December 31, 1999 Function and Balances Balances Activity January_ 1 Additions Retirements December 31 General government Executive $ 13,087 $ $ $ 13,087 Administrative 2,498,946 12,994 12,500 2,499,440 Finance 219,107 7,404 226,511 Building and grounds 460,195 38,769 498,964 Total general government 3,191,335 59,167 12,500 3,238,002 Public safety Police 1,260,234 594,913 265,108 1,590,039 Fire 3,137,849 259,185 3,397,034 Total public safety 4,398,083 854,098 265,108 4,987,073 Public works Administration 11,359,156 1,506 47,149 11,313,513 Forestry 643,028 37,932 680,960 MERF 391,068 43,429 434,497 Street division 1,718,645 425,892 2,144,537 Transportation 531,276 531,276 Total public works 14,643,173 508,759 47,149 15,104,783 Economic development 299,481 959,574 1,259,055 $ 22,532,072 $ Z381,598 $ 324,757 $ 24,588,913 126 I I I I I GENERAL LONG-TERM DEBT ACCOUNT GROUP This separate self-balancing group of accounts includes the amount of outstanding long-term indebtedness that has not been identified as a specific fund liability of a proprietary or trust fund and which is backed by the full faith and credit of the Village of Glenview. I I I COMPONENT UNIT Component Unit (Library Fund) - The Library Fund is used to account for the resources necessary to provide the educational, cultural, and recreational activities of the Glenview Public Library. i ! I VILLAGE OF GLENVIEW, ILLINOIS Component Unit - Library Fund Combining Balance Sheet December 31, 1999 (with comparative totals for 1998) ! I i I i I I I I I i I I I ASSETS Cash Investments Receivables Property taxes Accrued interest General fixed assets Total assets LIABILITIES AND FUND EQUITY Liabilities Accounts payable Accraed payroll Due to primary government Deferred revenues Deferred property taxes Total liabilities Fund equity Investment in general fixed Fund balance Unreserved Total liabilities and fund equity General Fixed Assets Account Totals General Fund Group 1999 1998 $ 475,569 $ $ 475,569 $ 415,843 1,512,500 1,512,500 1,751,111 3,023,631 3,023,631 3,023,631 25,329 25,329 17,280 5,481,722 5,481,722 5,481,421 $ 5,037,029 $ 5,481,722 $ 10,518,751 $ 10,689,286 $ $ $ $ 105,593 30,909 30,909 29,186 60,000 60,000 47,418 47,418 47,604 3,023,631 3,023,631 3,023,631 3,161,958 3,161,958 3,206,014 5,481,722 5,481,722 5,481,421 1,875,071 1,875,071 2,001,851 1,875,071 5,481,722 7,356,793 7,483,272 $ 5,037,029 S 5,481,722 $ 10,518,751 $ 10,689,286 I I See accompanying notes to financial statements. 128 VILLAGE OF GLENVIEW, ILLINOIS Component Unit - Library Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended December 31, 1999 and Actual Only for 1998 i ! i Revenues Taxes Property taxes - current Property taxes - prior Replacement taxes Intergovernmental Per capita grant Charges for services Fines and forfeits Interest Miscellaneous Donations Other Total revenues Expenditures Culture and recreation Excess (deficiency) of revenues over expenditures Other financing (uses) Operating transfers (out) - primary government General Fund IMRF Fund Capital Projects Fund Excess (deficiency) of revenues over expenditures and other financing uses Fund balance January I December 31 1999 Budget Actual $ 3,114,340 $ 2,990,123 485 29,000 29,000 35,000 47,604 85,800 78,341 67,800 62,792 65,000 106,228 48,877 2,425 3,396,940 3,365,875 3,460,909 3,227,873 (63,969) 138,002 (12,600) (12,600) (132,182) (132,182) (12o, ooo) (12o, ooo) (264,782) (264,782) 3~$_ _~=~=~ (126,780) 2,001,851 $ 1.875.071 1998 Actual $ 3,161,221 28,577 29,000 35,247 87,224 64,484 105,778 37,785 2,823 3,552,139 3,208,948 343,191 (12,100) (129,143) (178,738) (319,981) 23,210 1,978,641 I I ! I I I I I I I I I i I See accompanying notes to financial statements. 129 I ! I I I VILLAGE OF GLENVIEW, ILLINOIS Component Unit - Library Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 1999 I I I I Culture and recreation Regular salaries Overtime salaries Temporary salaries Legal fees Public information Printing Prinhng, binding, and publication Power and lights Heating Postage Telephone and telegraph Dues and subscriptions Maintenance of equipment Maintenance of copiers Maintenance of EDP equipment On-line searching Maintenance of buildings Travel expense Training Trustee expense Personnel recruitment Director expenses Library programs Office supplies Processing supplies Circulation supplies Audio visual supplies Books, pamphlets, and materials Periodicals Audiovisual Micro-form Video tapes Cataloging Contingencies Other operahng expenses Machinery and equipment F.1.C.A. payments Insurance Total expenditures Budget $ 1,187,851 5,000 745,366 3,000 17,760 11,050 8,000 600 7,000 16,600 28,378 4,785 15,569 24,136 33,176 60,246 91,754 20,000 31,600 2,500 3,000 1,200 26,600 20,800 17,550 9,725 9,000 442,338 45,494 53,100 32,860 28,250 29,000 1,000 950 44,104 148,274 233,293 $ 3,460,909 Actual $ 1,132,842 24,474 755,876 16,184 6,310 5,097 485 4,011 14,807 30,240 2,688 3,531 34,464 34,835 36,065 86,029 11,673 21,780 1,768 1,129 1,053 24,271 14,039 10,476 4,073 6,617 372,027 31,184 47,838 32,154 26,241 20,437 2,143 1,157 30,355 146,227 233,293 $ 3,227,87~3 130 VILLAGE OF GLENVIEW, ILLINOIS Component Unit - Library Fund General Fixed Assets Account Group Schedule of General Fixed Assets - by Source December 31, 1999 (with comparative totals for 1998) I I I I GENERAL FIXED ASSETS Land Buildings and improvements Furniture and equipment INVESTMENT IN GENERAL FIXED ASSETS General revenues Bond issues 1999 500,000 4,125,488 856,234 5,481,722 2,381,722 3,100,000 5,481,722 1998 $ 500,000 4,116,088 865,333 $ 5,481,421 $ 2,381,421 3,100,000 $ 5,481,421 I I I I I I I I I I I I I i 131 I I VILLAGE OF GLENVIEW, ILLINOIS Combined Schedule of Cash and Investments December 31, 1999 I I I (See Following Page) I I I I I I I -= o o VILLAGE OF GLENVIEW, ILLINOIS Schedule of Insurance in Force December 31, 1999 I I Type of Coverage Property, Mobile Equipment, Auto Physical Damage Excess Property General Liability, Employee Benefits, Law Enforcement Liability, Public Officials Auto Liability Employee Dishonesty, Crime General Liability, Auto Liability, Law Enforcement Liability, Ambulance Attendants' Liability, Public Officials' Liability Specific Aggregate Expiration Self-Insured Excess Excess Insurance Date of Retention Limit Limit Carrier Policy $ 50,000 $ 950,000 $ 950,000 1,000,000 N/A 59,326,798 100,000' 900,000 100,000. 900,000 250,000 1,000,000 10,000,000 10,000,000 Boiler and Machinery Position Surety Bonds Paul T. McCarthy, Treasurer Workers' Compensation 250,000* Excess Workers' Compensation 300,000 5,000 50,000,000 50,000,000 1,000,000 1,000,000 50,000 50,000 Statutory Statutory * - All retentions subject to a maximum $550,000 loss fund. N/A - Not applicable. United National 12/31/00 Traveler's Insurance 12/31/00 N/A United National 12/31/00 N/A United National 12/31/00 N/A Kemper Insurance 12/31/00 High-Level Excess Liability Pool 4/30/08 Travelers Insurance 12/31/00 American Motorists 12/31/01 United National 12/31/00 Safety National 12/31/00 I I I I I I I I I I I I I I I 133 I I VILLAGE OF GLENVIEW, ILLINOIS Long-Term Debt Requirements Corporate Purpose Bond Series of 1992 December 31, 1999 Date of Issue Date of Maturity Authorized Issue Denomination of Bonds Interest Rates Interest Dates Principal MaturityDate Payable at April 1, 1992 December 1, 2012 $2,895,000 $5,000 2002 6.10% 2000 5.90% 2001 6.00% 2003 6.20% 2004 6.30% 2005 6.40% 2006 6.50% 2007-2008 6.55% 2009-2012 6.60% June 1 and December 1 December 1 American National Bank and Trust Company of Chicago CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS Tax Fiscal Levy Bond .Tax Levy .... Interest Due on Year Year Numbers Principal Interest Totals June 1 Amount Dec. 1 Amount 2000 1999 121-144 $ 120,000$ 147,524$ 267,5242000 $ 73,7622000 $ 73,762 2001 2000 145-169 125,000 140,444 265,444 2001 70,222 2001 70,222 2002 2001 170-195 130,000 132,944 262,944 2002 66,472 2002 66,472 2003 2002 196-224 145,000 125,014 270,014 2003 62,507 2003 62,507 2004 2003 225-254 150,000 116,024 266,024 2004 58,012 2004 58,012 2005 2004 255-286 160,000 106,574 266,574 2005 53,287 2005 53,287 2006 2005 287-320 170,000 96,334 266,334 2006 48,167 2006 48,167 2007 2006 321-366 180,000 85,284 265,284 2007 42,642 2007 4Z642 2008 2007 367-395 195,000 73,490 268,490 2008 36,745 2008 36,745 2009 2008 396-437 210,000 60,720 270,720 2009 30,360 2009 30,360 2010 2009 438-481 220,000 46,860 266,860 2010 23,430 2010 23,430 2011 2010 482-528 235,000 32,340 267,340 2011 16,170 2011 16,170 2012 2011 529-579 255,000 16,830 271,830 2012 8~415 2012 8~415 $ 2.295.000 $ 1.180.382 $ 3.475.382 $ 590.191 $ 590.191 Note: The above bond issue is to be retired annually by Wholesale Water Fund. 134 VILLAGE OF GLENVIEW, ILLINOIS Long-Term Debt Requirements Corporate Purpose Bond Series of 1993 December 31, 1999 I I I Date of Issue Date of Maturity Authorized Issue Denomination of Bonds Interest Rates Interest Dates Principal Maturity Date Payable at May 1, 1993 December 1, 2005 $7,635,000 $5,000 2000 4.60% 2001 4.60% 2002 4.60% 2003 4.60% 2004 4.60% 2005 4.70% June 1 and December 1 December 1 American National Bank and Trust Company of Chicago CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS Tax Fiscal Levy Bond Tax Lew- Interest Due on - Year Year Numbers Principal Interest Totals Tune 1 Amount Dec. 1 Amount 2000 1999 375-496 $ 610,000 $ 266,536 $ 876,536 2000 $ 133,268 2000 $ 133,268 2001 2000 497-636 700,000 238A76 938,476 2001 119,238 2001 119,238 2002 2001 637-794 790,000 206,276 996,276 2002 103,138 2002 103,138 2003 2002 795-1019 1,125,000 169,936 1,294,936 2003 84,968 2003 84,968 2004 2003 1020-1298 1,195,000 118,186 1,313,186 2004 59,093 2004 59,093 2005 2004 1259-1527 1~345~000 63~216 1~408,216 2005 31~608 2005 31,608 $ 5.765.000 $ 1.062.62~6 $ 6.827.626 $ 531.313 $ 531.313_ I I I i I I I I I I I I I I 135 I I VILLAGE OF GLENVIEW, ILLINOIS Long-Term Debt Requirements Corporate Purpose Bond Series of 1994 December 31, 1999 Date of Issue Date of Maturity Authorized Issue Denomination of Bonds Interest Rates Interest Dates Principal Maturity Date Payable at September 15, 1994 December 1, 2004 $8,040,000 $5,000 2000 4.85% 2001 4.90% 2002 5.00% 2003-2004 5.10% June 1 and December 1 December 1 American National Bank and Trust Company of Chicago CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS Tax Fiscal Levy Bond Tax Levy ....... Interest Due on Year Year Numbers Principal Interest Totals [une 1 Amount Dec. 1 Amount 2000 1999 0650-0904 $ 1,275,000$ 237,378 $ 1,512,378 2000 $ 118,689 2000 $ 118,689 2001 2000 0905-1135 1,155,000 175,540 1,330,540 2001 87,770 2001 87,770 2002 2001 11361367 1,160,000 118,945 1,278,945 2002 59,472 2002 59,473 2003 2002 1368-1485 590,000 60,945 650,945 2003 30,473 2003 30,472 2004 2003 1486-1608 605,000 30,854 635,855 2004 15,427 2004 15~427 $ 4.785.000$ 623.662 $ 5.408.660 $ 311.831 $ 311.83~1 136 VILLAGE OF GLENVIEIN, ILLINOIS Long-Term Debt Requirements Corporate Purpose Bond Series of 1995 December 31, 1999 I I I Date of Issue Date of Maturity Authorized Issue Denomination of Bonds Interest Rates Interest Dates Principal Maturity Date Payable at October 17, 1995 December 1, 2000 $500,000 $5,000 2000 4.20% June 1 and December 1 December 1 American National Bank and Trust Company of Chicago CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS Tax Fiscal Levy Bond Tax Levy -- Interest Due on Year Year Numbers Principal Interest Totals ]une 1 Amount Dec. 1 Amount 2000 1999 81-100 $ 100.000 $ 4,200 $ 104,200 2000 $ 2.100 2000 $ 2.100 Note: PrIncipal and interest are paid by the Sewer Fund. I I I I I I I I I I I I I I 137 I I VILLAGE OF GLENVIEW, ILLINOIS Long-Term Debt Requirements Corporate Purpose Bond Series of 1996 December 31, 1999 Date of Issue Date of Maturity Authorized Issue Denomination of Bonds Interest Rates Interest Dates Principal Maturity Date Payable at November 1, 1996 December 1, 2008 $8,435,000 $5,000 Bonds Rate 136-276 4.625% 277-1278 4.70% 127%1477 4.80% 1478-1687 4.875% June 1 and December 1 December 1 American National Bank and Trust Company of Chicago CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS Fiscal Bond .Tax Levy Interest Due on Year Numbers Principal Interest Totals June 1 Amoant Dec. 1 Amount 2000 136-276 $ 705,000 $ 367,024 $ 1,072,024 2000 $ 183,512 2000 $ 183,512 2001 277423 735,000 334,418 1,069,418 2001 167,209 2001 167,209 2002 424-578 775,000 299,872 1,074,872 2002 149,936 2002 149,936 2003 579-740 810,000 263,448 1,073,448 2003 131,724 2003 131,724 2004 741-910 850,000 225,378 1,075,378 2004 112,689 2004 112,689 2005 911-1089 895,000 185,428 1,080,428 2005 92,714 2005 92,714 2006 109~-1278 945,000 143,362 1,088,362 2006 71,681 2006 71,681 2007 1279-1477 995,000 98,948 1,093,948 2007 49,474 2007 49,474 2008 1478-1687 lt050,000 51,188 1,101~188 2008 25~594 2008 25~594 $ 7.760.000 $ 1.969.066 ~ 9.729,066 $ 984.533 ~ 984.533 138 VILLAGE OF GLENVIEW, ILLINOIS Long-Term Debt Requirements Corporate Purpose Bond Series of 1997 December 31, 1999 I I I Date of Issue Date of Maturity Authorized Issue Denomination of Bonds Interest Rates Interest Dates Principal Maturity Date Payable at August 15, 1997 December 1, 2017 $6,175,000 $5,000 Bonds Rate 001-717 4.875% 718-792 4.900% 792-1235 5.000% June 1 and December 1 December 1 American National Bank and Trust Company of Chicago CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS Fiscal Bond Requirements .Interest Due on Year Numbers l~rincipal Interest Totals ]une 1 Amount Dec. 1 Amount 2000 061-102 $ 210,000 $ 289,268 $ 499,268 2000 $ 144,634 2000 $ 144,634 2001 103-145 215,000 279,032 494,032 2001 139,516 2001 139,516 2002 146-190 225,000 268,550 493,550 2002 134,275 2002 134,275 2003 191-238 240,000 257,582 497,582 2003 128,791 2003 128,791 2004 239-288 250,000 245,882 495,882 2004 122,941 2004 122,941 2005 289340 260,000 233,694 493,694 2005 116,847 2005 116,847 2006 341-395 275,000 221,018 496,018 2006 110,509 2006 110,509 2007 396-453 290,000 207,612 497,612 2007 103,806 2007 103,806 2008 454-514 305,000 193,476 498,476 2008 96,738 2008 96,738 2009 515-578 320,000 178,606 498,606 2009 89,303 2009 89,303 2010 579-646 340,000 163,006 503,006 2010 81,503 2010 81,503 2011 647-717 355,000 146,432 501,432 2011 73,216 2011 73,216 2012 718-792 375,000 129,126 504,126 2012 64,563 2012 64,563 2013 793-871 395,000 110,750 505,750 2013 55,375 2013 55,375 2014 872-955 420,000 91,000 511,000 2014 45,500 2g14 45,500 2015 956-1043 440,000 70,000 510,000 2015 35,000 2015 35,000 2016 1044-1136 465,000 48,000 513,000 2016 24,000 2016 24,000 2017 1137-1235 4951000 24,750 5191750 2017 12~375 2017 12r375 $ 5.875.000 $ 3.157.784 $ 9.032.78~_ $ 1.578.892 $ 1.578.892 Note: Debt service is payable from the North Maine Water and Sewer Fund. I I I I I I I I I I I I I I 139 I I VILLAGE OF GLENVIE-W, ILLINOIS Long-Term Debt Requirements Corporate Purpose Notes of 1997 December 31, 1999 Date of Issue Date of Maturity Authorized Issue Denomination of Bonds Interest Rate Interest Date PrIncipal Maturity Date Payable at September 2, 1997 September 1, 2019 $2,850,0OO $1,425,000 4.942% September 1 September 1 North Suburban Public Utility Overland Park, Kansas CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS Fiscal Requirements Year Principal Interest Totals 2000 $ 82,072 $ 133,305 2001 86,128 129,249 2002 90,384 124,993 2003 94,852 120,525 2004 99,539 115,838 2005 104,459 110,918 2006 109,621 105,756 2007 115,039 100,338 2008 120,725 94,652 2009 126,691 88,686 2010 132,952 82,425 2011 139,523 75,854 2012 146,419 68,958 2013 153,655 61,722 2014 161,249 54,128 2015 169,219 46,158 2016 177,582 37,795 2017 186,359 29,018 2018 195,569 19,808 2019 205r234 10t143 $ 215 377 215 377 215 377 215 377 215 377 215 377 215 377 215 377 215 377 215 377 215 377 215 377 215 377 215 377 215 377 215 377 215 377 215 377 215,377 215e377 $ 2.697.271 $ 1,610.269 $ 4.307.540 Note: Debt service is payable from the North Maine Water and Sewer Fund. 140 VILLAGE OF GLENVIEW, ILLINOIS Long-Term Debt Requirements General Obligation Bond Series of 1998A December 31, 1999 I I I Date of Issue Date of Maturity Authorized Issue Denomination of Bonds Interest Rates Interest Dates Principal Maturity Date Payable at November 1, 1998 December 1, 2018 $10,000,000 $5,000 Bonds Rate 1-139 4.10% 140-389 4.15% 390-661 4.20% 662-957 4.25% 958-1278 4.30% 1279-2000 4.35% June 1 and December 1 December 1 American National Bank and Trust Company of Chicago CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS Fiscal Year Tax Levy Interest Due on Principal Interest Totals rune 1 Amount Dec. 1 Amount 20OO 2001 20O2 2OO3 2004 2005 2O06 2007 2008 2OO9 2010 2011 2012 2013 2014 2015 2016 2017 2018 1,360,000 1,480,000 1,605,000 1,735,000 1,875,000 $ 426/A0' $ 426,440 2000 $ 213,220 2000 $ 213,220 426,440* 426,440 2001 213,220 2001 213,220 426,440 426,440 2002 213,220 2002 213,220 426,440 426,440 2003 213,220 2003 213,220 426,440 426,440 2004 213,220 2004 213,220 426,440 426,440 2005 213,220 2005 213,220 426,440 426,440 2006 213,220 2006 213,220 426,440 426,440 2007 213,220 2007 213,220 426,440 426,440 2008 213,220 2008 213,220 426,440 426,440 2009 213,220 2009 213,220 426,440 426,440 2010 213,220 2010 213,220 426,440 426,440 2011 213,220 2011 213,220 426,440 1,121,440 2012 213,220 2012 213,220 397,945 1,647,945 2013 198,973 2013 198,973 346,070 1,706,070 2014 173,035 2014 173,035 288,950 1,768,950 2015 144,475 2015 144,475 226,050 1,831,050 2016 113,025 2016 113,025 157,035 1,892,035 2017 78,518 2017 78,518 81,563 lt956t563 2018 40t781 2018 40t781 10.000.000 $ 7.041.333 I~ 17.041.333 $ 3.520.667 $ 3.520.667 *NOTE: Interest payments to come from bond proceeds. I I I I I I I I I I I I I I 141 I I VILLAGE OF GLENVIEW, ILLINOIS Long-Term Debt Requirements General Obligation Bond Series of 1998B December 31, 1999 Date of Issue Date of Maturity Authorized Issue Denomination of Bonds Interest Rates Interest Dates Principal Maturity Date Payable at January 1,1999 December 1, 2018 $24,400,000 $5,000 Bonds Rate 1-514 4.250% 1515-2215 4.375% 2216-2589 4.400% 2590-4880 4.500% June 1 and December 1 December 1 American National Bank and Trust Company of Chicago CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS Fiscal Year Tax Levy .Interest Due on Principal Interest Totals ~tme 1 Amount 2000 2001 2002 2003 2004 2O05 2O06 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Dec. 1 Amount $ 1,O72,824' $ 1,072,824 2000 $ 536,412 2000 $ 536,412 1,072,824' 1,072,824 2001 536,412 2001 536,412 1,395,000 1,072,824 2,467,824 2002 536,412 2002 536,412 1,450,000 1,013,536 2,463,536 2003 506,768 2003 506,768 1,510,000 951,911 2,461,911 2004 475,967 2004 475,956 1,575,000 887,736 2,462,736 2005 443,868 2005 443,868 1,640,000 820,799 2,460,799 2006 410,399 2006 410,399 1,715,000 751,099 2,466,099 2007 375,549 2007 375,549 1,790,000 676,068 2,466,068 2008 338,034 2008 338,034 1,870,000 597,755 2,467,755 2009 298,878 2009 298,878 1,955,000 515,475 2,470,475 2010 257,738 2010 257,738 2,050,000 427,500 2,477,500 2011 213,750 2011 213,750 1,450,000 335,250 1,785,250 2012 167,625 2012 167,625 1,000,000 270,000 1,270,000 2013 135,000 2013 135,000 1,000,000 225,000 1,225,000 2014 112,500 2014 112,500 1,000,000 180,000 1,180,000 2015 90,000 2015 90,000 1,000,000 135,000 1,135,000 2016 67,500 2016 67,500 1,000,000 90,000 1,090,000 2017 45,000 2017 45,000 1,000,000 45,000 1,045,000 2018 22,500 2018 22~500 24.400.000 $~1.140.601 $ 35,540,601 $ 5.570.301 $ 5.570~301 *NOTE: Interest payments to come from bond proceeds. 142 I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I VILLAGE OF GLENVIEW, ILLINOIS Property Tax Assessed Valuations, Rates, Extensions, and Collections Last Ten Fiscal Years December 31, 1999 (See Following Page) I I ! I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I VILLAGE OF GLENVIEW, ILLINOIS Property Tax Rates - Direct and Overlapping Governments Last Ten Fiscal Years December 31, 1999 (See Following Page) ~oo==~p~ ~ZZZZZZZZZ I I I I I I I I I i I I I I I I I I I I I I I I I I I I I I I VILLAGE OF GLENVIEW, ILLINOIS Schedule of Legal Debt Margin December 31, 1999 Article VII, Section 6(k) of the 1970 Illinois Constitution governs computation of the legal debt "The General Assembly may limit by law the amount and require referendum approval of debt to be incurred by home rule municipalities, payable from ad valorem property tax receipts, only in excess of the following percentages of the assessed value of its taxable property... (2) if its population is more than 25,000 and less than 500,000 an aggregate of one per cent: ... indebtedness which is outstanding on the effective date (July 1, 1971) of this constitution or which is thereafter approved by referendum. ·. shall not be included in the foregoing percentage amounts." To date the General Assembly has set no limits for home rule municipalities. 149 I I I I I I I I i I I I I I I I I I I I I I I I I ~[ ~[[ ~[ VILLAGE OF GLENVIEW, ILLINOIS Demographic Statistics Last Ten Fiscal Years December 31, 1999 I I I Education Level in Per (1) Years of (2) (3) Fiscal (1) Capita Median Formal School Unemployment Year Population Income Age Schooling Enrollment Percentage 1990 38,437 $ 22,791' 34.9 16.4 3,121 3.5 1991 38,437 24,838* 35.5 16.6 3,015 4.2 1992 38,437 30,531 37.5 16.4 5,887 4.8 1993 38,437 31,752' 37.5 16.5 5,937 4.6 1994 38,437 33,022* 37.5 16.5 6,023 3.6 1995 38,437 34,343* 37.5 16.5 8,461 2.9 1996 38,437 35,716' 37.5 16.5 8,590 3.1 1997 38,437 37,145' 37.5 16.5 8,676 2.5 1998 38,437 38,631' 37.5 16.5 9,315 2.6 1999 38,437 39,674* 37.5 16.5 9,241 2.3 * Estimate Data Sources (1) U.S. Departrne~t of Commerce, Bureau of the Census. (2) Includes elementary and high school students. (3) Illinois Department of Labor, l~linois Department of Employment Secu~ty. I I I I I I I I I I I I I I 152 I I ,.., o VILLAGE OF GLENVIEW, ILLINOIS Miscellaneous Statistics December 31, 1999 I I Date of Incorporation June 20, 1899 Form of Government Council-Manager Geographic Location 20 Miles North of Chicago Area 13 Square Miles Population 19500~ 6,142 19601o 18,132 1970~ 24,880 1980(~) 32,060 1990(~) 38,437 1991 38,437 1992 38,437 1993 38,437 1994 38,437 1995 38,437 1996 38,437 1997 38,437 1998 38,437 1999 38,437 Number of Total Housing Units (1993 Census) Median Value Owner-Occupied Noncondominium Housing Units 11,399 $ 252,640 Distribution of Owner-Occupied Noncondominium Houses by Value Unit Value by Range (1) Unit Distribution Number Percent Under $100,000 378 4% 100,000 - 199,999 3,359 35 200,000 - 299,999 2,805 29 300,000 or More 3,000 32 9,542 100% The above information from the Bureau of the Census, other years estimated. I I I I I I I I I I I I I I I (Continued) 154 I I VILLAGE OF GLENVIEW, ILLINOIS Miscellaneous Statistics December 31, 1999 Fire Protection Number of firefighters Number of stations Number of fire hydrants I.S.O. rating Police Protection Number of police officers Number of school crossing guards Number of stations Library Services Number of libraries Number of books Number of records Number of audio cassettes Number of slides (sets) Number of video tapes Number of compact discs Number of registered borrowers 1999 book circulation Recreation Facilities Number of parks and playgrounds Park area in acres - Park District owned Park area in acres - Park District leased Municipal Parking Facilities Number of parking spaces Waterworks Operations Number of sewer customers served during fiscal year Number of metered water customers at December 31, 1999 Number of unmetered water customers at December 31, 1999 Gallons of water purchased during fiscal year Gallons of water billed during fiscal year Water storage capacity Ground Storage Elevated Storage 82 3 2,3OO Class 3 75 18 1 1 252,388 3,153 8~58 378 8,346 10,005 37,268 725,589 36 447 135 668 9,518 13,675 3,109,820,000 2,687,186,000 8,500,000 gallons 1,000,000 gallons (Continued) 155 VILLAGE OF GLENVIEW, ILLINOIS Miscellaneous Statistics December 31, 1999 I I Number of full time employees (on December 31, 1999) Miles of streets maintained by Glenview identified by functional classification: Arterial Collector Residential Cul-de-sacs Total Miles of streets maintained by Glenview identified by surface type: Asphalt Concrete Total Miles of alleys maintained by Glenview Miles of streets within the Village of Glenview maintained by Cook County or the State of Illinois Miles of sanitary sewers Miles of storm sewers Number of Village owned street lights Building activity Number of permits issued in 1999 Value of construction authorized in 1999 316 7 5 106 12 92 38 1_30 2.2 22 80.6 74 465 1,749 $ 97,784,655 I I I I I I I I I I I I I I I 156 I I VILLAGE OF GLENVIEW, ILLINOIS Major Corporate Fund Revenue Sources Non-Real Estate Tax December 31, 1999 I I I Fiscal Sales Year Tax %of % of Total Utility Total Revenue Tax Revenue 1989 $ 3,425,477 28.8% 1990 3,287,825 25.6 1991 3,358,151 28.5 1992 3,608,071 26.7 1993 4,188,116 29.4 1994 4,438,932 24.4 1995 4,843,071 25.3 1996 4,661,985 23.6 1997 4,794,830 21.1 1998 5,092,357 20.9 1999 5,758,617 23.0 Note: Includes General Fund only. $ 2,414,772 20.3% 2,419,761 18.9 Z687,159 22.8 2,744,525 20.3 2,876,149 20.2 ZS1Z867 13.8 2,935,696 15.3 3,099,365 15.7 3,184,812 14.0 3,340,555 13.7 3,262,725 13.0 Income Tax $ 1,406,056 1,345,428 1,605,474 1,651,925 1,966,124 2,157,707 2,266,279 2,656,744 2,483,946 2,666,003 2,740,281 % of Total Revenue 11.8% 10.4 13.6 12.2 13.8 11.9 11.8 13.4 10.9 10.9 11.0 I i I I i I I I I I ! I I I 158 I i VILLAGE OF GLENVIEW Cook County, Illinois ANNUAL FINANCIAL INFORMATION STATEMENT OF INDEBTEDNESS Amount As Per Cent of Per Capita Applicable as of ~ Estimated (1999 Est. Dec. 31.1999 Value True Value PoD. 38.12ff~ Assessed Valuation of Taxable Real Prope~, 1998 ........... $1,160,371,041 100.00% 33~3% Estimated Tn.~e Value of Taxable Real Propen'y, 1998 .......... 3,4~t, 113,1~3 30000% 100.00% 91,319.86 Direct General Obligation Bonded Debt(/): Payable from ProperS/Taxes .......................... $ 8,930,700 .77% .26°1o $ 234~ Seff-Suppor~ng Debt(2) .............................. 52_049.300 4.49% 1.49% 1.365.41 Totel Direct Bonded Debt .......................... $ 60,960,000 526% 1.75% $1,599.69 Overtopping Bonded Debt Payable frcm Property Taxes(3): Schocls ........................................ $ 12,865,136 1.11% .37% $ 337.49 Other Than Schoots ................................ ~3.298.219 3.73% 1 24% 1.135.84 TotalOvedappingBor~edDebt ...................... $ 56.163.355 4.84% 1.61% $1.473,33 Total Direct and Overlapping Bonded Debt .................... $ 117.143.355 10.10% 3.36% $ 3.073.0~ Total Direct and Overlapping Excluding Self-Supporting ....... $ 65,094,055 5~61% 1.87% $1,707.61 Notes: 1. The Village is a home-rule unit under the 1970 Illinois Constitution3 and as such has no debt limit nor is it required ~o seek referendum approval for the issuance of general obl~Ja~n debt. Sea ~e~rement ~le of Outstanding Village General ~bli~fian Debt" for a listing of ~e V. illage'~ non- ganerahabligaEon debt and cu~ren#y outs~andi~g general ebliga~an debt. Of the V'81age~ genemt ebliga~n debt 85.4% or $52,049,3OO ~s cunsidered self-suppo~ting. 2 See 'Detailed Ovadepping Bonded Indebtedness Payabte From Propedy Taxes at December 31, 1999 ~ RETIREMENT SCHEDULE OF OUTSTANDING VILLAGE GENERAL OBLIGATION DEBT(Note I) (As of December 31, 1999) Princioal Amounts Serf SuDoortJna With Proiected Abatement From I Paid From Water and Sewer Fundsi2l Due Property Series Se~es Sedes Series 12-1 Taxes[3! 1992(4! 1994(5) 19gS 1997(6) 20(X)... $1,432,400 $ 120,000 $ 452,600 $1~0,000 $ 210,000 2001... 1,4(X3,400 125~00 451,600 - 0 - 215,0~ 3003... 1,587,600 145,000 127,400 240,~0 3004... 1,669,300 150,000 130,700 250,000 20(35... 1~45,000 160,000 - 0 - 260,000 i 3[X36... - 0 - 170,000 275,000 3~07... 180,000 290,000 2~... 195,000 305,000 2[X~9... 210,000 320,000 2010... 220,000 340,000 I 2011... 235,000 355,000 ~12... 255,000 375,000 2013... - 0 - 395,000 2014... 420,000 i ~015... 440,000 2016... 2017... 2018. - 0 - $8,030,700 Tax Inc~ment Revs. (7) Total Series Seres CumuL 1996 1998 Amount P~nt $ 705,000 $ - 0 - $ 3,020,000 5.0% 735,000 - 0 - 2,9~0,000 g.8% 775,000 1,395,000 4,475,000 17.1% 810,000 1,450,000 4~60,(X30 24~'o 850,000 1,510,000 4~560,(XX) 31.7% 8~5,000 1,575,000 4,235,000 38.7% 945,(X~0 1,640,000 3,030,000 43.6% ~5,(X~0 1,715,000 3,180,000 48.9% 1,050,000 1,790,000 3,340,000 54.3% - 0 - 1,870,000 2,400,000 58.3% 1,955,000 2,515,000 62.4% 2,050,000 2,640,000 66.7% 2.~5.000 2 875.000 100.0% Debt Service Tax Levies From Proper'b/ $1,748,509 1,771,445 2~G 1,811,696 2~04 1,408,216 1. Exc~s ar~ua~ payments of ~215~3?7 te se~ter~s of the uti~ity eampany ~t was ~acq. .. .uired in Sep!~mber~ 199Z Tbe $1, .O3~. ,116 p#ncipal arnount of taxes to be levied ~n ~be app/icabte apec~l sen~se areas, is shown as ovedepping debt ~n the tebte Detailed Overlapl~ng Bonded Indebtadr~ss 'ayal~ From Property Taxes", 2 As a home rule unit under the 1970 #/inois Constitefon, the Village has no debt limit and it can issue general obliga~on bonds without reter..,,~__u_,m_. ~3e Vi/tage has chosen to fund vanous water/sewer impmvamenis with gener~ ob/igatten bonds and abate taxes from user charges. The ViYlage s water system serves a population of approximate/y l OO, OOO of which approximately 64,000 are outside the Village limits (57,000 in unincorporated areas ard 7,000 in the Citizens Utittrias service area). 3 ~nc~udearerna~ningmatur~iasf~rtheVi~lage~s~u~standingSeries1993B~nds~andap~r~i~n~ftheeutstandthgSe#as1994issuas. 4. The Sedas 1992 Bonds are payab,~ pdmait~y from revenues of ~ service area of a pitvate water company outside [he Village limits. The Viilagesokl$8,040,OOOGeneralOb~'gaitenRefunding~3nds, Se#ea 1994eaAugust30, 1994. Apc~o~ of the issue is payable from proper~y taxes and the remainder is seff-suppor#ng from watar/sewer revenues. ~ TheSedas1997B~r~sarebethgpaic~fr~mwaterandsewerrevanuesofase~vicearea~ut~de~eVi~age~imit~withapq~ute#~n~fappr~ximate~y 40,000. Z The Series 1995 and Series 1998 Bonds ara e~36cted D be paid from ~mental property taxes at the Glenvtew Naval Air Station Economic Development Project Area plus 80% of the land sale proceeds derived from ~be Village's sale of land at the Project Area. 159 DEBT RATIOS AND PER CAPITA DEBT--LAST TEN BOND SALES (Note 1) Villaoe Issue ~ Amount May 1, 1~90 ..... November 19, 1991 April 7, 1992 ..... jA~ustl 8, 1993 ..... October 17, 1995 .. October 15, 1996 .. August 5, 1997 .... October20, 1998 .. Ratio to Estimated Actual Value//) Per Caoita[1) Direct Debt Direct & Overtaooina Debt Direct & Overlaooina Debt Including Excluding Including Excluding Including Excluding Self- Self- Self- Self- Self- Self- Suooortina Suooortina/2) Suooortina Suooortina(2) Suooortina Suooortina(2) ...... ~ 4,500,000 1.53% .83% 323% 2.53% $1~9.81 $ 964.91 ....... 4,165,000 .91% .50% 2.64% 2.23°1o 1,532.82 1,295.24 ....... 2,895,000 1.03%o .50% 2.78% 2~5% 1,614.07 1,304.18 ....... 7,635,000 1.23% .77=/o 3.31% 2.85% 1,9~.19 1,690.55 · 8,025,000(3) ,94% .60% 3.00% 2.66°/0 2,229.73 1,978.80 .60,000,000 (4) .87% .57=/0 2.98% 2.68°/0 ~2.19.67 1,995.53 500,0C0 .89%o .57% 3.17=/o 2.85°/0 2,360.61 2,123.34 ::::i:: 8,435,000(5) 1.01% .45% 3.18°/'o 2.62°/0 2,590.75 2,134.53 ....... 6,175,000 1.13% .42% 3,15%o 2.44°/0 2,544.13 1,969.57 ....... 34,400,000(6) 2.12% .37% 3.98%° 223% 3,125.64 1,752.00 Notes: 1. Ratios and par capita information es set out in appltoable Official Statemenhs. The Village's Bond Antidpation Bonds which sold es January25, 1~95 are not inciuded in these n~ios (see Note 4). 2 Exctucting ff~e Village's self-supporil~j generatobligation bonded debt. 3 Ftoalissueam(x~twas$8,040,O00. Tnisissueadvancerefundedthecailablematufitiesof~heSedes1989and1990issues. 4. General Ob#gation Bond Anticipation Bonds, Sedes 1995 ("BABS") ff~e procesds of which were used to fund interest up to file respecEve maturi~y dates of the BABS and to creato a capitsl imprevement fund for redeve~t costs of ~e Glenvfew Naval Air Station which officially closed on Septembor9, 1995. The principalamount of ff~e Bond Anticipation Bonds was not included in ff3e debt ratios and per capita data .- if ~ when these reatudties are refinanced with long-term bonds (such as ~e Series 1996 and the Series 1998 Bonds), ff~ey will appear in ff~e debt reEDs and per capita debt. E~ Procesds used to reAJnd lt~e December I, 1996 rnatuifty of ff;e BABS. E~ A l:x~on of the procesds of ine Series l ~98 Bonds was used to refund ~he December1, 1998 matufi~y of the BABS. DETAILED OVERLAPPING BONDED INDEBTEDNESS PAYABLE FROM PROPERTY TAXES AT DECEMBER 31, 1999 Village's Applicable Share (Note 1) of Gross Debt To Be Paid Frgm Real Prooertv Taxes Percent Amount Percal~t of Village's 1998Real Property in Gross SCHOOL DISTRICTS: Taxina Body Bonded Debt Elementary Districts: Glenview School District No. 34 .................. 70.0% $ 3,635,000 85.489% $ 3,107,525 Norihbrook School District No. 30 ................ 10.0% 9,124,641 35.109% 3~3~570 West Northlield School Distrct No. 31 ............. 9.8% 7,465,000 24.756% 1,848,C~5 Wilmette School District No. 39 .................. 3-2% 6,535,000 4.696% 306,884 F~st Maine School Dist~ct No. 63 ................ 2.7=/0 17,900,000 4-c65% 763,435 Golf Sch(~ District No. 67 ..................... 2.5% 3,200,000 14.594% 467,008 Avoca School Distrct No. 37 .................... 1.8% 4~:80,000 7.177=/o 307,175 High School Districts: Nodhfield Township High School Distinct No. 225 ...... 89.3% 4,920,000 34.773% 1,710~32 New Trier To,,~n ship High School District No. 203 ...... 4.9% 27,470,000 2.331% 640,326 Niles Township High School Dis~'ict No. 219 ......... 3.1% 26,641,429 1~34% 355,396 Maine Township High School District No. 207 ........ 2.7=/o 15,000,000 1.033% 154,950 100.0% Community College District: Oakton ComrnunityCollege NO. 535 ............... 100.0% - 0 - 9.286% Total School Districts .......................................................... $12,865,136 OTHER THAN SCHOOL DISTRICTS: Cook County, Includtrg Forest Presewe District ......... 100.0% $1,858,655,000(2) 1.479=/o $27,489~507 Metropolitan Water Reclamation Distrct .............. 100.0% 900,790,000(2) 1.512% 13,619,945 Glenview Park District .......................... 99.1% 1,192,O00(3) 81.920% 976,486 Northbrook Park Distrct ......................... 4%° 4,590,000(3) .346% 15,881 Northfiaid Woods Sanitary Dist~st .................. 10.0%o 305,000 34.C~6% 10G,962 Norlh Maine Fire Protection District ................. 5%o 2,570,000 2.425% 62,322 Gtenview Special Service Areas ................... Vadous 1,0G0,116 100.000% 1,030.116 Total Other Than School Districts .................................................. $43~96~19 Notes: 1. Village~s share based upon 1998 Rea/Propa~y valua~ons. 2. Excludes General Obligatk~n Notes issued in lieu of tax an~f~ation warrants ar~ no..t~. .issued to provfde intedre cons~on financing7 Also excludes IEPA loans to the Metrepofiton.W~ter Rectareatton .DJ. strict. . 3 Exctudes ~e foftomng 'Alternate ~onds" issued pe~suant to Public Act 85-1419, whtch are cons~ered ~ be sef- suppodJng since ff~y are payable ? user fess or off3er pledged non-proper~y tax sources: Glent4ew Park District - $24,475,0~0 and Nollhbreok Park D~ - $5,700,000. 160 I I I I I I I 1 I I I I I I I I I I i EQUALIZED ASSESSED VALUATION FOR TAXING PURPOSES (Note 1) Tax Net Percent Levy Less for Taxing Increase Over Year Gross Exemotions (2} Pumeass pdo~ Year 1994 ............ $ 989,104,798 $57,555,800 $ 931,548,998 -1.4%(4) 1995(3) .......... 1 ,Q96,925~82 60,905,775 1,036,019,507 +11.2% 1996 ............ 1,111,554,137 61 ~45,414 1,050,308,723 +1.4% 1997 ............ 1,110,128,692 62,350,866 1,047,777,826 -.2%(6) 1998(3) .......... 1,224,686,771 64,315,730 1,160,371,041 (5) +10.7% Notes: 1. Prngerty in Cook County is separated into eight eiaseificatlens for assessment pu~l~es (rang~.n~. in 1985 from 13% for residential fo 40% for commercial property). After the assessor astabtishas the fair market value of a pamel of land, ~at value is multiplied by one of the eiassification percentages to ardve at the assessed valuation for that parcel. The Itiinals Depar~-nent of Reverrua fumisbes ea~ county with an adjustment factor (~he equalization factor) to equalize the level of assessment beNv~ countias. After the equaliza#on factor is applied, the valua#on of the propa/ty for taxing puq:~eaes has been astablished--tex rates thdudes three major categbeas of exempllens: the Senior Citizens' Homas~_ea~t. Exemption ($~,98&,250 in 1998), ~e Senior Citizens Tax Freeze Homestead Exemp~on ($3,910,330 In 1998), and the General Homestead Exemption ($52,419,150 in 19~8). The Senior Citizens'Hon3astead Exemp~n, effective for tax years 1991 end fo!lewing, isa redu~on of $2,500 ($1,500in levy years 1972-1983 e~d SP~O00 in levy years 1984-1990) in the equalized aseassed va~ation of reei prcperty owued and occupled by ~ ~ersea ~5 years of age or eide~ The General Homestead Exemp~n is available to owner-occupied residential properly; ~ amount of the exemption is the a~crease in the current year's equalized assessed valua~w above the 1977 tax year equatized assessed valua~n, with a maximum of $1,500 in 1978, $;~000 beN~n 1979 a3d 1982, $3,500 betwean 1953-1990 aed $4,500 thereafter. Levy year 1994 marked the ftrst year of the Senior Citizen Tax Freeze Homestead Exemp~on whk;h provides that persons 65 or older with a household income of leas ~an $35,000 may receive an exern~on in ~e amount of the difference beNveea ~e current equalized aseessed valea of each pfincipal rasidense and the greater of (i) the 1993 equalized assessed value of the residence plus E3e value of s~t irnprcvernents or (ii) the equalized assessed value in ~e year ~3e senior dtizen becomes eligible for the exemption plus the value of subsequent tmprcvements. 3 Under the current triennial reaseassmant system in Cook County, one third of the County is reassessed each year. The Village was reasssesed in 1995 and 1998. 4 The decrease in equalized assessed valuation was primarily due to a 1.3% drop in the State-imposed equalization factor for Cook County (from 2,1407 in levy year 1993 fo 2.1135 in levy year 1994). 5. By valuation, 82.2% of ~e Village is in Norlhfieid Township, 6.3% is in Niles Township, 6.4% is in Maine Township, and 4.8% is in New Trier Township. includes $126,876 of Railroad Propedy now classified as Real Propedy. The decrease in equalized assessed valuation was primarily due to a .31% drop in the State-imposed equa~ization factor for ccok c~u nty (fr~m 2~1517 in ~e vy yea~r1996 to 2~1489 th levy year199 7)~ TAX RATES PER $100 EQUALIZED ASSESSED VALUATION (Levy Years) Village of Gtenview: Bonds and Interest ...................... Pensions (Police, Fire, IMRF & Social Secul~ty)... Corporate ............................. Total Village(1) ...................... Cook County (Incl. Forest Preserve) ............... Metrop~itan Water Rectarr~lJon District ......... Glenview S.D. Number 34 ..................... Northfield Township H.S.D. Number 225 ............ Oakton Community College Dist. Number 535 ........ Glenview Park Dist~st ................... Library(2) ................................. Nodhfield Township and Ali O~er ................. Total(3) ............................ 1994 1995 1996 1997 1998 $ .137 $ .119 $.125 $ .166 $ .156 .179 .191 .139 .112 ~95 ~ .353 .422 .457 .409 $ .7O9 $ .663 $ ~a7 $ .735 $.~0 1.066 1.066 1.0B3 ,g93 ,,963 .4~5 .495 .492 .451 .444 3.179 2.959 3.071 :~188 2~91 ~55 ~33 208 216 205 .488 .478 .476 .4,q6 .587 .o91 .117 .099 ,116 .078 Village as a Percent of Total ..................... 8~/o 8.1% 8.3% 8.7% 8.~/o Notes: 1, 3 As a home rule unit under the 1970 Itiino~ Cons§~ufion, the Vitiage has no stetetory lax rate limitations. Beginning in levy year 1985, the tex rate for Library purposes is considered under Stete law to be a sepa~te levy from the Village. Tax rate applicable to the largest tax code which represented 46.0% of the Village ~ 1998 tax base and is k)cated in Northfiabl Township. 161 TAX EXTENSIONS AND COLLECTIONS (Village Purposes Only) Levy Collection Total Taxes Year Year E~ended 1994 ....................... 1~5 $ 9,653,045 19o~ ....................... 19~6 9,977,329 1996 ....................... 1997 10,338,121 1997 ....................... 1~ 10,876,343 1998 ....................... 1999 10,733,670 Total Taxes Collected as of December 31.1999/'1) Amount/'2} Percent $ 9,567,622 99.12% 9,744,476 97.670/° 10266,321 99.31% 10,768,639 99.01% 10,633,824 99.070/o Notes: 1. Source: Village records. Tax colfacfions am shown in ff3e year collected, not ff~e year extended. Cook County propen'y taxes are payable in ~/o installments: ~3e first o~ March 1, and ff~e second cn ~he latter of August I or 30 d~.ys after ff~e mailing of the tax bilts. The first installment is an estimated bill ~3d is one-half of file pnor yeaFs bill. The second installment.is based an E3e current levy, assessment and equalization and reflects any changes from ~e pnor yea{ in ~3se factors. The second installment date for levy year 1994 taxes was November 1, 1995, which was unusually late -- ~r~Or to 1995, the latest second installment date was October 1, 1981. The second installment dates levy years 1995-1997 were September 11, 1996, September 19, 1997, October 28, 1998 and November 1, 1999. 1993 AND 1998 TAX BASE DISTRIBUTION BY PROPERTY CLASSIFICATION Villaae of Glenview Percent of Total 1993 1998/2) 1993 1998 ResidenUaJ .......................... $631,691,119 $ 817,802,199 66.9% 70.50/o Commemial(1) ....................... 217,710,970 238,830r264 23.0% 20.6% Indust~al ............................ 95,509,403 10G,587,007 10.1% 8.0% Railroad ............................ 34,494 126,876 NIL NIL Farm ............................. 114.715 24.695 Nil. NIL Total .......................... $945,060,701 $1,160,371,041 100.0% 100.0% Perce~ Increase 1993-1998 ............................ +22.~Yo Notes: 1. The commercial cfassificat~n includes apa~cent bui~ings with over six unite and any apar~menYretail mixed use buildir~g~ 2 Lateat info/marion available from Cook County byproper~y classification. TEN LARGEST TAXPAYERS Equalized .a~sea~ed Percent of Rank T[xsaver pr~berties Veluation/'/) Vj!la=e (2) I .... Kraft General Fooda ............. Coq3orateHeadquarters/ReeaamhCampus... $ 33,479,074 2.93'° 2 .... AON ....................... Insurance Company ................... 15,147,414 1.3% 3 .... Signode, Div. of iTW ............ Corporeta Headquarters ................ 14,461,839 12% 4. Ad. sen Wesley Long. an ......... ~ta Headqoartam-Beak Publishing(3)... 10,106,010 0.9% 5. D & T Property Tax Group ........ Doubletree Ho~el ..................... 9,047,365 0.8% 6. Maralhea V.S. Real'des ........... Conm3erciaJ Property .................. 8,657~~62 0.8% 7. RREEF MI DAMERICA .......... Ptaza Del Pm(Jo Shopping Center .......... 7~281 ~ 0.6=/o 8. Evans~ NW Healthcare ......... MedicaJ Office Buildings ................ 5,586,872 0~,% 9. Avon Products ................ COS~ - Shipping Facility ............ 5~13,743 0.4% 10 .... Klaft Jess LP 2100 .............. Commercial Prope~y .................. 5.029.522 0.4°/° 9.8% Total Ten La~geat Taxpayers ...................................... $114,010,399 Notes: 1. Valuations es of Janua~y1,1998 for1999 tax~ng purpoeas. ~ Total 1998 V'~age va]uallon of $1,160,371,041. 3 C<~7~3cateheadqua~tersofScoftForesrr~3n/AddteanWeafaY. 162 I I I I I I I I I I I I I I I I I I I I i I ! I I I I i I I I I I I GENERAL FUND Summary Statement of Revenues, Expenditures and Changes in Fund Balance (Fiscal Years Ending December 31) AuditedfNote l J RevenuesfTransfe~s: PropertyTaxes(3) .................... $ 3,585,385 Property Taxes-Fire Protection Distfict(11) .... 1,2.43,933 Sales Taxes ........................ 4,843,071 Utility Tax .......................... 2,935,6O6 State Insome Tax/Photo and Use Tax ........ 2~o6,279 Franchise Taxes ..................... 355268 Hotel Room Tax(4) .................... 618,684 Motor Vehicle Licenses ................. 403,655 Building Permits/Cert, Of Occup ............ 294,469 Other Licenses and Permits .............. 260,534 Charges For Services .................. 722,408 Fines and Forfeits .................... 207,4.33 interest ........................... 174,561 Transfers-In: Watenvorks ...................... - 0 - Wholesale Water .... - 0 - The Glen RedevJCaretak~r' i' ii i i i i i i i i - 0 - North Maine Utilities ................. - 0 - Escrow Deposit(5) .................. 249,522 Land Sales ......................... - 0 - All Other Revenues .................... 468.835 Total Revanues?rreesfere ............ $18,629,733 Expenditures/Transfers: General Government ................... $ 3,808,518 Public Safety ........................ 1029fl,562 Highways and Streets .................. 3,573,406 Pensions ............ - O - Subtotal Expenditures ................ $17,680,486 Trensfere-Out: Capital Equipment Replacement(6) ....... $ 765,685 Capital Projects .................... 1,99~,0O6 O~her ....... 73.044 Total Exp enditures/Transfo re .......... $19,617,215 Revenue Over (Under) Expenditures: Before Capital/Transfers ................ $ 949247 After Capital/Transfers ................. $ (987,482) Adjustments to Fund Balance ............... $ (97,749) $ 3,567,602 1,857,583 4,661,965 3,099,365 2,656,744 320,704 698,644 311,400 674,151 231,929 19~,357 157,544 90,516 687.950 10,848,544 3,475,887 $17,982,816 $ 803,431 311,000 7~,773 $19,173,020 $ 2,362,523 $ 1,172,319 $ -0- 1~v9 1997 1998 Budoet (2} Actual Budaet (21 $ 5,098,741 $ 5,421,134 $ 5,229,686 $ 5,088,157 $ 5,869,300 2,094,527 2,014,877 2023,992 2,123,992 2,050,O60 4,794,830 5,092,357 5,1E8,8O6 5,758,617 5,5O6,000 3,184,812 3,340,555 3,268,900 3262,725 3,193,230 2,900,650 3,111,954 3,192,900 32.49,388 3,350,000 333,645 322,468 322,000 379,362 370,000 459,412 5,535 - 0 - 10 - 0 - 817,715 1,069,449 752,000 996,745 930,000 652,035 1,310,311 2,233,550 741,991 1,983,535 427,039 526,760 425,O60 478,582 475,000 471245 452,814 457,808 457,808 500,750 330,356 33,850 ,.~',881 4,000 4,O60 - 0 - 285,174 381,981 381,961 292,674 245,864 127215 100,000 194,993 150,0O6 112,731 168,896 107,139 107,139 155,790 - 0 - - 0 - 335,000 531,593 1,635,000 542.126 795.012 93B.5O6 1.075.376 1.722.252 $24,020,892 $25,525,491 $26,318,837 $26~562.44 $29,690,531 $ 5,468,303 $ 4,824,865 $ 5,384,738 $ 4,854,514 $ 6,320,146 11235,448 11,918,831 13,115,107 12~357263 13,983,604 3,944,604 4,094,806 3,664,804 4,774,392 4,382,361 617.344 613.170 509.686 515.397 424.000 $21~5,699 $21,451,672 $~2,674,335 $22,501,566 $25,110,111 $ 901,114 $ 965,013 $ 1,023,323 $ 1,024,903 $ 1,001,3~2 453,000 919,600 1,514,000 1,199285 4,426,824 4.554 - 0- - 0- - 0- - 0- $22,624,367 $23,336,285 $~5~11,658 $24,725,754 $30,538,237 $ 2,750,639 $ 4,073,819 $ 3,40~,405 $ 3,754,678 $ 4,580,420 $1,396,525 $ 2,189~O6 $ 918,082 $1,530,490 $ (847,7O6) $ 19,385 $ -0- $ -0- $ 9,782,456 $11,971,662 $13,502,152 December 31 $ 9,195,386 $ 8,45O,797 $10,356,035 5216,129 5,129,6~6 5,604,175 811,956 835,114 $27,596 234,170 305;.'~4 316,573 644,565 2,941,225 3~3,415 14.804 5.641 14.482 $16,538,719 $18218,085 ~20,603,066 FtmdBalanceatDecember31(7) ............ $ 7,194~'7 $ 8,366,546 Balance Sheet at Cash and Investments(8) ................ $ 4,064,532 $ 6,629,833 Receivables: Prcperty Taxes ..................... 3,755,037 4,507,613 Sales Tax ........................ 762,111 709,848 Utility Tax ........................ 313,976 425~506 og'~r Receivables .................. 439,800 370,67?' Due From Olher Funds ................. 2,869,707 689,150 All O~3er Assets ...................... 730.356 730.356 Total Assets ..................... $12,935,019 $14,062,983 Liabilities and Fund Balance: Accoants Payaf31e ..................... $ 116,910 Con~oansafed Absences Payable ..... 660,186 Due To Other Funds ................... 1,137,0fl2 Defen'ed Revenues .................... 3,755,037 All Other Liabilr~es .................... 71 Fund Balance: Reserved(9) ...................... $ 730,356 Designated for Surcharge Reseipts(lO) ..... 1,472,048 Undesignated ...................... 4.991.823 Total Fund Balance(12) ............. $ 7.1~227 $ 29,351 $ 378,726 $ 190,637 $ 156,192 586,321 743,645 870,063 926,120 512,478 253,806 - 0 - 30,920 4,507,613 5~316,129 5,129,686 5,886,911 60,674 63,957 56,037 100,871 $ 740,356 $ ~,;~z3 $ 15,641 $ 19,867 1,472,048 1~34,848 11334,94~ 1,334,848 6.154.142 8.425.3~5 10.621.173 12.147.437 $ 8.366.546 $ 9.7fl2.456 $11.971.662 $13.502.152 Total Liabilities & Fund Balance ........ $12.~5.019 $14.062.963 $16.538.719 $18218.085 $20.603.066 Notes: 1. These condens6d financial ~atemants for the General Fund for the years ~ff~ecj December 31, 1995-1999 have been prepared from ~e full Comprehensive Annual Financial Reports of the Village of G,~nview and do not putporl to be complete §nano~al statements. The full financial statements, together with the report of the Village's independent accountants, are available upon request. Sea Note 1 to "Combined Statement-All Funds~, The Village Manager submits a proposed operating budget to ~e Boa~l of Trustees which budget includes proposed e~qm~ndi~ures a~d the means of f#3ancingthern. Su~t to budget heanngs, ~e budget is legally enacted ff~3ugh passage of an o~inance. The Village Manager is au~odzed to transfer budgeted amounts between deparknents within any fund; however, any ret4sions that alter the total expend~ures of any fund must be approved by the Board of Trustees. Budgets are adopted (~3 a basis cons~stect with generally accepted accounilng principles. 3 Fre~ ~979 t~ 1985 the Village's po#cy wi~h. rega~d to General Fund properly taxes was to levy a o~ant, doltar ~Jnt of approximately Beginning. with 1986, ~e Village changed lhls policy ~o one of a constant tax rate to ensure ~ pari~ation in the cost of government ol new cnnstrucfion and annexati~3s. 4 EffectiveMay6, 1985, theViilageadopteda5%hotelreomtax. TheV'illagehasfiveeperatinghotetswith856rnoms. ~ Devek~perearerequ~redt~dep~sitwith~heViilageanam~u~tequa~t~thec~st~fa~impn)vemantsbalngbei~tanddedicatadt~t~eVil~agewhichdep~alts are returned upon saiisfacfoG' corr~le~:~n of the imprevements. Interest eam~gs on the amounts in ~ Escrow Deposit Fnnd are transferred to the General Fund. 163 ofD~cember31~199~cashandioveab~ntsto~tecap/ts~Equ~prnentRep~anereantFeadtotat~d$7-~.~--~6* , '~e rot4sto~soflnts,-retst~n&G 7. F~r ~e r~ssa~ year ended December 31~1982~e Vi~age changed ~ts pr~perty tex revenue rec~gn~u~ ~c~nl~rm ~ P '~' issued by ~3e National Councit on Govemmenfel Acc~un. .~r~ under ~hici~, , p.~_ e~_,_~x ~~'~reedso~oe~a ~n~ou~ o~de~fan~ed r~eve~noel~,ed ~ Whanthe Villagechanged'.itspolicyre.g.~, ~ ~_ ,~o,~rp~,~_,~ .... ~,~.~,~ex~r~ditures totals~n~raximatelv $5,625,391. This reserve balance to.90 days of I~/ ._.., - ' ~ ......... ~- .=?~'- *.-~' -~.~^-,.. = mor~tan, ~ ~ a nature/disaste~ or o~3er fiscal difficulties. serves as leaurence shoed ~e vtllage ~a~e lluc~ua~. _or u_u_~.~y~ 5' ~ ~-,~'~'~'~ ~ ~ln ~-~.~- ~ "~,'~rnh~r .'~1 1'~9' which reoresented a cash The General Fund 'Cash Balance' has risen from $7,;~1/,b0~ ar uecemoer ~., reserve balance of 165 days. · ' ' Fund was transferred to the General Fund for r~udncl fiscal ,,~1989 $725,000 in bond proceeda frorn the Sanss1989 Bond Fund (Capxtei Projects 9. ,.. "~ ~ -"c'~ _~.'_T, ....... ~. ~ ~, ,-,~o== of ,~roser~v for redev,~'~nent pu~poses. C~ ~3e balanca sneet ar uecemuer ffle fund batance was shown as Resen~o ~. r, Lano t~e.~o. ,mr ~ssa~,~ w~u~. ~.~,_ ,_ .?___~_~_,,~.~ ~l~ Th= mbar 31 1999 Reaerved total of $19,867 includes $1 O, 000 for Patton House and $9,867 for prepaid items (~re is no ~nger an amonn 10. These fonds are avaitab~e for any purp~se-b`~e -Dssignatsd- referance is to the seurce of revenoes toat were datsrmined by the Vit~age B~ard as not t~ be used for oparat~hg expenses. · ............ Gfenview Fire Depar~sent. The Fire Protection Distdct con#noss to 11. OnSeptsmberl, 1992theGfenbronkFireProtant~onu~srnc~wasmergeon~u=r~ . · levy properly taxes on that part of its tax base outs/de the Village limits and remits those tax receipts to the Village for services ~n ~3e on~ncorporated area that now represents its tax base. 1~ -rheGenere~Fund"FundBa~anse~atDan~mbor31~1999~f$13~5~2~152i$equa~to53~8% ~f ~)e $95~11~111Budgeted 2~2~ Genera~ Fund e)penditurea excluding transfers for capital purposes. COMBINED STATEMENT--ALL FUNDS(Note 1) Fund Balances 1995-1998 and Summary 1999 Revenues, Excess Revenues and Fund Balance (Audited Fiscal Years Ending December 31) Fiscal Year Ended December 31.1999 Revenues ~- ~ Incl. Transfers Revenues Property Over Fund Governmental Fund Types: 1995 1996 1997 1998 Tax Total ~ ~lance General Fund ................ $ 7,194~27 $ 8,366,546 $ 9,782,456 $11,971,662 $ 7~212,149 $ 26~56~244 $ 1,530,490 $13,502,152 Spedai Revenue Funds: IMRF .................... $ (1,068,125)$ Motor Fuel Tax ............. 813,(385 Cable TV ................. 54,460 Refuse and Recycling ......... 54,523 911 Communications ......... 106,299 GNAS Redevelopment(2) ...... (102,240) GNAS Caretaker ............ - 0 - Totel Special Revenue ....... $ (141,998) $ Debt Service Funds ............ 9,944,060 (505,782) $ (95,236) $ 24,118 $ 540,578 $ 889,720 $ 48,327 $ 72,445 790,881 574,874 427,814 - 0 - 966,199 (128,601) 299~13 39,403 - 0- -0- - 0- -0- -0- -0- 297,717 643,865 902,166 -0 - 1,164,448 290,778 1,192,944 164,510 218,703 271,111 -0 - 363,365 59,374 330,485 (316,996) (318,393) (911,269) -0 - 3,455,756 (474,035) (1,385,304) - 0 - - 0 - 96.304 - 0 - 661.896 1127.973) 131.669~ 469,733 $ 1,(X23,813 $ 810~44 $ 540,578 $ 7~501,384 $ (332,130) $ 478,114 7,493,68G 4,416,466 2~88~99 1,708,734 23,991,540 1~63,315 3,651,914 F;)8.499.019 ~(10) $86,96O,694 $1(~042,395 Capital Project Funds ........... ~3.086.629 62.982.681 48.029.780 ~5.911.1~6 - 0 - 1~9.088.973 Total Governmental Funds .... $ 80,065,918 $ 79,312,653 $ 63~52,515 $ 41,081,701 $ 9,461,461 $186,838,141 Proprietary Fund Type(S): Enteq)dea Funds: Watsrworks(4) ............. $11,676,121 $11,739,689 $13,020,016 $15,197,166 $ Sewerage(4) ............... 3,054,108 3,116253 2,978~95 2~975,588 Wholesale Water(4) .......... North Maine Water and Sewer(4) Commuter Parking Lot ....... Tatai Ente~r~e Funds ..... Internal Service Funds: Mueicipal Equipment Repair(5) . Tote] Internal Sen,ice Funds.. Total Proprietary Funds ...... Fiduciary Fund Typea(6): Escrow Deposit (7) ........ Deposit .................... Police Depa~'~nent Special Account.. Police Pension ............... 623,416 794,012 1~-°~2,966 783,437 - 0 - - 0 - (109,569) (266,559) ~ 160.485 97.297 128.026 15,578~21 $15,810,439 $17,189,105 $18,817,658 $ 88,264 $ 27,996 $ 5,043 $ (38,354)S ~ 2.466;~84 3.056.542 3.407.267 ~ ~ $ 3.061.585 $ 3.368.913 ~ 17,622,728 $ 18,304,719 $ 20~Z50,690 $ 22,186,571 $ -0- $ -0- $ -0- $ 120,5935 20,897 22,900 26,536 29,880 16,(~9 15~93 5,233 13~24 16,078,49~ IL597,082 23,553,282 27,211£46 31.848.864 34.502.380 ~/'.887.879 $ 49,484~39 $ 58,087,431 $ 65~63,422 $ ~ 1.659.047 $ 1978.641 $ ?.~01.851 $ $148,760,658 $143,569,277 $130,533545 $ 13refighters' Pension ........... 29.813.647 Total Fiduciary Funds ....... $ 45,929,071 Component Unit: Libra~ Fund(8) ............... $ 1.323.801 Tots[ All Funds(Memo Only) .. $144,941,518 Cash and Investments at December 31: 1995 General Fund ............... $ 4,064,532 Special Revenue Funds ........ 1,507~o4 Debt Service Funds ........... Capital project Funds: Capital Equipment Replacement. GNAS Project ............. NI Other Capital Projects . 11,527,572 5,501247 6,970,704 3,466,959 1996 $ 6,629,833 1,861,476 7,708,320 5,996,561 52,723225 6,030,865 Proprietary Funds ............. 4,053,812 Fiduciary Funds(6) ............ 49,647,671 52,779,240 Component Unit - Library Fund(8) .. 1 243.953 1.674.093 Total Cash and Invesbnents(9) . $133,433,979 $138,677~45 1997 1998 $ 9,195,386 $ 8,486,797 $ 1,404,442 1,965~93 4,414,215 2,478,865 6,153,619 7,865~586 37,011,215 15,905,125 6,843~48 8,424~q16 6,862~30 9,763,531 62,850,801 69,765,291 $136,637,049 $126,546,175 -0 - $ 6,386,511 $ 1,431,173 $16,628,339 -0 - 838,588 913,071 3,888,659 -0 - 1,371,805 (24,037) 759,400 -0 - 5,647,651 156,450 (110,109) - 0 - 216.605 66.519 194545 - 0 - $14,461,186 $ 2,543,176 $ 21,360,834 - 0 - $ 1,074,848 $ 182,808 $ 144,454 - 0 - 2.881.586 439.813 3~47.080 -0- $ 3.956.434 ~'~ $ 3.991.534 - 0 - $18,417,594 $ 3,165,797 $ 25,,3,52_,,368 - 0 - $ 199,182 $ 4,189 $ 124,782 - 0 - 6~0 62OO 36,086 - 0 - 4,488 1,(~3 14,847 387,208 (800,466} (1,581,976) 25,629270 157.476 1176.382) (1,140.5763 36.747.30G 544,684 $ (766,978) $(2,711,140) $62,5.52,282 2.9g0.60~ $ 3.365.875 $ (126.780~ $ 1.875.071 12,996,753 $207,854,632 $61,288,571 $191~22,116 1999 10,356,035 1,877,420 3,653,017 7,646,046 9,563,407 66~375~S30 1.988.069 $186,995,726 I i ! I I I I ! I I I I i I I I I I Notes: I. 3. 4. I I I I I I I I I I I I I 5~ Z 9. 10. Fr, ancialReportsofthe VitlageofGlam4ewanddonotpuq:)orttobe complete audr~s, The full financial statements, ~ge~ur ~. ,~.,~ pfincfptesesa~toclovemrnantaluof~s. Th~sccounisoftheVi#age. areorganizedontheDas~so.r~ar~accounlg_roups/~, . ~evenue sources that are legally reslrictsd to e,~enosur~s ~or specm~u pu~. , ~, ~-,~ ,=~, .,~o , ., ~-,o, 7; ~-_ i .-_r : ~,_. L-- ~.,. ^, .n'e~t assets and Types ar~ Expendable Trust Funds (in ~ Fiduciary Funds cato~oq/]. A, rerea~mng /-tauc~aG' ~u__n~s. . (r.?,=.~..,,, 1:7_" ...... v. -- '~ I-unos . ~ ...... ~ "- --- · ~ "' cable 'dean" hions were ~ncluded m the Village~ statemants for its fiscal year ended December 31, 1999 tncluded the foflovang tsnguage (compa op~ 1995-1998 audits sbewn in this tebte): ...... Villageo[Gtenvlew, I[Iteols, aso[Deoer~ber31 t999, andthe~asufi~o{itsopera~sanu~..cas~ows ,~.~? ~,,y~,[,~,!, ._.~ ~ ................ · ............... - ~'-'- -'/eads ead group financial statements referred to above present tartly, tn all matenal respects, the final, a! po~..r~on o.t ea?.ot~_meff_n~at.,v~_ u_~__~ flows ~ account groups o[ the Village o[ Glanview, Illinois, as o[ December 31, 1999, and the resulis or operetk~es or suea tuno.~ ~D t, ~ ea~ fis oper~ons for th~ year !hen ended, tn cenfon'nity ~wth generefiy accepte~.aceount~ng P nc~pt~. '" ................ nt of ~e Glenview Naval Air Base land which was vacated by the Navy on Sop~lb~r 9, 199~, . ....... The arncunis shown as fund balances for the Proprieta~ Funds are re~ eamtngs (excludes contributed capeau ano ~e amounts shown as "excess revenues' represent the change in ~atalned earrsngs. 'Total revanues" rePreeant opere#n9revenues. East) and the western portion and the applicable unincorporated area a~acent to f~e western Doroar or me vjttage £ _w_ar.er~,o. ,rKO. ~w~j~ ,., ,,~,, ,oo,~ were, at ~ ~! ~ ~ ,~dants, asq~ by ~ Wla..~ ~r ~ p_.u~p~, of ~-gr~fi. ~ water q~ily ~ ~at a~a ~y repl~ wafi water supply with Lake Mk:higan water supply that had been available to east GI~ ~nce ~ u;~ . It was detetmir~d that ~e cost of amortizing the debt ~Tradmg woukf be paid for b~/(he customers of the west system, t.f~e, ues or ~esng ~ras, consnueo u,n?t 77~_w_~ _~,q _=_~.~-,~ ,~,=_ ~-' L~',~ unincoq:~o~ated areas ea~ed by the Villa_~. Pnor.~ 1986, these ~f~ds wer? aca~ntsd (<~r in th?.,,two Wa. ~.rw~. s ~-u~s._l_~e ~l_es~e_ter ~ Fund accounts for the sale of water, to Ci¢z. ens U#Tily Cesnpan..~ for ~ts s¢~?ce area outside ~e wsa.ge o~ u,~ov~ew, t n~ ~oar ~ Maine., vv,~ the Sewer Fund accounts for all financial ac~wty related to the V#1aJ~e providing water and sewer se~ce to an unince~eareted area sc~r~wes c~ Village (formerly served by the North Suburban Public Utilities c;ompany). . ...... The Municipal Equipment Repair Fund is used to account for the costs of repamng and malnte~nt~g all Village vehicles, earned un the escrowed deposits is ' y age . ry ' ' -- -- '" s the Beginning in fiscal year 1993, the Library Fund was presented m the audit as a con~t [r~t of the Villa~Te ~ me ~J,ora~ l~, ease dmrectertsgcs of a legally separate governrsen~ (separete~ elected 7-member board which annually determines ~s budget ar~ .ta~. ?_~_ f., The Village~ Cash Contn~ and Iovesb'eant Policy was ongmally adopted on Pebrua/y 21, 1983 a~l was revised on March 15, 7~b, January 1990and Malch 19, 1996. thdudes lwo eawfunde creatsd in fiscal year1999: the Glan Land Sates Fund (D~:k.wnb~r31, 1999 balance $43,.911!21~) a~d ~.e Vil_la_g. ~ Pe~e~n~ Fund (December 31, 1999 ~ $I 7,12_~,9~2). The Gten Land Sal~s Fund rs ~ to account for grant lunas, ~ sa!es, ar~, prop .y. revenues (via the Tax Inoreman! Finance D.i~tnct) related t~ the Glenview.Naval Air ~, and the Vi. llag~ Pe..rr~,..t Fuqd ts. ~ l?a,~cc~?~n~l FIXED ASSETS AT DECEMBER 31, 1999 General Fixed Assets(f) Land and Imp~vements ........................ $ 5,005,095 Buildings and Improvements ..................... 10,089,432 Water and Sewer Systems ...................... - 0 - Equipment ................................. 8~3 Office Furniture and Equipment ................... 972.173 Subtotal ............................... $24,588,913 Less: Accumulated Depredation ............. - 0 - Total .............................. ~[{24,588.913 Proprietary Fund Fixed Assets $ 302,851 44~,~1- 2,457,e0~ 18.672 $26.786,807 Notes: 1. Fzxed assets used ? governmente/fund type ~ are accountsd ~r/~ ~e Ganeral ~ix~d .~-.~ets. ,Ac?unt Group rather than ~n govemmentsl funds. All fixed assets are valued a! blstortoal cost or es~matsd histoncat c~t if actualis not known. Contributed fixed assets are recerdedat their fair market value on the date donated. Public domain (infrestr~ture) fixed assets including ro~s,.. ,; bridges, curbs ~ gott. ers, streets aTJ aldewa!~s, dreineag~. systems and lighl~ng systems have not besn caprialized: NO (~p~latiun ~s recorded on General Fixed Aese . This table thdudes the general fixed assets of the Gleswew Public Libra~. . . . Fixed Assets in the Proi~etary Funds are valued at histo~fca cost or es#mated historical ces£ Deprec~afion on all exhausUble fixed assets is char/~ed as as e*panea against operations, Depreciation is ptovfded over the estimated useful lives using Ute straight-line method, 165