HomeMy Public PortalAbout1994 Comprehensive Annual Financial ReportVILLAGE OF GLENVIEW, ILLINOIS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED
DECEMBER 31, 1994
Prepared by Finance Depa~iment
Dennis M. Lauer
Director of Finance
VILLAGE OF GLENVIEW, ILLINOIS
Comprehensive Annual Financial Report
Table of Contents
December 31, 1994
PAGE
INTRODUCTORY SECTION
Principal Officials i
Organization Chart ii
Village Manager's Letter of Transmittal iii - iv
Director of Finance's Letter of Transmittal v - xii
Certificate of Achievement for Excellence in Financial Reporting xiii
FINANCIAL SECTION
REPORT OF INDEPENDENT AUDITORS 1 - 2
GENERAL PURPOSE FINANCIAL STATEMENTS
All Fund Types and Account Groups and Discretely Presented
Component Unit
Combined Balance Sheet 3
All Governmental and Trust) Fund
Fiduciary
(Expendable
Types
and Discretely Presented Component Unit
Combined Statement of Revenues, Expenditures,
and in Fund Balances 4
Changes
General, Special Revenue, and Debt Service Fund Types and
Discretely Presented Component Unit
Combined Statement of Revenues, Expenditures, and
Changes in Fund Balances - Budget and Actual 5
All Proprietary and Fiduciary (Pension Trust) Fund Types
Combined Statement of Revenues, Expenses, and
in Retained Balances 6
Changes
Earnings/Fund
All Proprietary Fund Types
Combined Statement of Cash Flows 7
Notes to Financial Statements 8 - 45
VILLAGE OF GLENVIEW, ILLINOIS
Comprehensive Annual Financial Report
Table of Contents
December 31, 1994
PAGE
FINANCIAL SECTION (CONT.)
COMBINING. INDIVIDUAL FUND. AND ACCOUNT GROUP
STATEMENTS AND SCHEDULES
GOVERNMENTAL FUND TYPES
GENERAL FUND
Corporate Fund
Balance Sheet 46
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual 47
Schedule of Revenues - Budget and Actual 48 - 49
Schedule of Expenditures - Budget and Actual 50 - 63
SPECIAL REVENUE FUNDS
All Funds
CombLrfing Balance Sheet 64
Combining Statement of Revenues, Expenditures,
and Changes in Fund Balances 65
Illinois Municipal Retirement Fund
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual 66
Motor Fuel Tax Fund
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual 67
Cable TV Fund
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual 68
Schedule of Expenditures - Budget and Actual 69
VILLAGE OF GLENVIEW, ILLINOIS
Comprehensive Annual Financial Report
Table of Contents
December 31, 1994
PAGE
FINANCIAL SECTION (CONT.)
GOVERNMENTAL FUND TYPES (CONT.~
SPECIAL REVENUE FUNDS
(CONT.)
Refuse and Recycling Fund
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual 70
911 Communications Fund
Statement of Revenues, and
Expenditures,
Changes in Fund Balance - Budget and Actual 71
Glenview Naval Air Station Fund
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual 72
DEBT SERVICE FUNDS
All Funds
Combining Balance Sheet 73
Combining Statement of Revenues, Expenditures,
and Changes in Fund Balances 74
Combining Statement of Revenues, Expenditures,
and Changes in Fund Balances - Budget and Actual 75
CAPITAL PROJECTS FUNI~
All Funds
Combining Balance Sheet 76
Combining Statement of Revenues, Expenditures,
and Changes in Fund Balances 77
VILLAGE OF GLENVIEW, ILLINOIS
Comprehensive Annual Financial Report
Table of Contents
December 31, 1994
PAGE
FINANCIAL SECTION (CONT.)
GOVERNMENTAL FUND TYPES (CONT3
PROPRIETARY FUND TYPES
ENTERPRISE FUNDS
All Funds
Combining Balance Sheet 78
Combining Statement of Revenues, Expenses, and
Changes in Retained Earnings 79
Combining Schedule of Changes in Contributed Capital 80
Combining Statement of Cash Flows 81
Waterworks Fund
Statement of Revenues, Expenses, and
Changes in Retained Earnings - Budget and Actual 82
Schedule of Operating Expenses - Budget and Actual 83 - 85
Schedule of Fixed Assets and Depredation 86
Wholesale Water Fund
Statement of Revenues, Expenses, and
Changes in Retained Earnings - Budget and Actual 87
Schedule of Operating Expenses - Budget and Actual 88
Schedule of Fixed Assets and Depredation 89
Sewerage Fund
Statement of Revenues, Expenses, and
Changes in Retained Earnings - Budget and Actual 90
Schedule of Operating Expenses - Budget and Actual 91
Schedule of Fixed Assets and Depreciation 92
VILLAGE OF GLENVIEW, ILLINOIS
Comprehensive Annual Financial Report
Table of Contents
December 31, 1994
PAGE
FINANCIAL SECTION (CONT.)
PROPRIETARY FUND TYPES (CONT.)
ENTERPRISE FUNDS (CONT.)
Commuter Parking Lot Fund
Statement of Revenues, Expenses, and
Changes in Retained Earnings - Budget and Actual 93
Schedule of Operating Expenses - Budget and Actual 94
Schedule of Fixed Assets and Depreciation 95
INTERNAL SERVICE FUNDS
All Funds
Combining Balance Sheet 96
Combining Statement of Revenues, Expenses, and
Changes in Retained Earnings 97
Combining Statement of Cash Flows 98
Municipal Equipment Repair Fund
Statement of Revenues, Expenses, and
Changes in Retained Earnings - Budget and Actual 99
Schedule of Operating Expenses - Budget and Actual 100
Insurance Fund
Statement of Revenues, Expenses, and
Changes in Retained Earnings - Budget and Actual 101
FIDUCIARY FUND TYPES
TRUST AND AGENCY FUNDS
All Funds
Combining Balance Sheet 102
Combining Statement of Revenues, Expenditures, and
Changes in Fund Balances (Expendable Trust Funds) 103
Combining Statement of Revenues, Expenses, and Changes
in Fund Balances (Pension Trust Funds) 104
VILLAGE OF GLENVIEW, ILLINOIS
Comprehensive Annual Financial Report
Table of Contents
December 31, 1994
PAGE
FINANCIAL SECTION (CONT.)
FIDUCIARY FUND TYPES (CONT./
TRUST AND AGENCY FUNDS (CONT.)
Pension Trust Funds
Police Pension Fund
Statement of Revenues, Expenses, and Changes in
Fund Balance - Budget and Actual 105
Firefighters' Pension Fund
Statement of Revenues, Expenses, and
Changes in Fund Balance - Budget and Actual 106
Agency Funds
Combining Statement of Changes in Assets and Liabilities 107
ACCOUNT GROUPS
GENERAL FIXED ASSETS ACCOUNT GROUP
Schedule of General Fixed Assets - by Source 108
Schedule of General Fixed Assets - by Function and Activity 109
Schedule of Changes in General Fixed Assets -
by Function and Activity 110
GENERAL LONG-TERM DEBT ACCOUNT GROUP
Schedule of General Long-Term Debt 111
VILLAGE OF GLENVIEW, ILLINOIS
Comprehensive Annual Financial Report
Table of Contents
December 31, 1994
PAGE
FINANCIAL SECTION (CONT.)
COMPONENT UNIT SCHEDULES
Library Fund
Combining Balance Sheet 112
Combining Statement of Revenues, Expenditures, and
Changes in Fund Balance 113
Schedule of Operating Expenditures - Budget and Actual 114
Schedule of General Fixed Assets 115
~I. JPPLEMENTAL DATA
Required Supplementary Information
Analysis of Funding Progress
Illinois Municipal Retirement Fund 116
Police Pension Fund 117
Firefighters' Pension Fund 118
Revenues by Source
Illinois Municipal Retirement Fund 119
Revenues by Source and Expenses by Type
Police Pension Fund 120
Firefighters' Pension Fund 121
Combined Schedule of Cash and Investments 122 - 123
Schedule of Insurance in Force 124
Long-Term Debt Requirements
Corporate Purpose Bond Series of 1977 125
Corporate Purpose Bond Series of 1989 126
Corporate Purpose Bond Series of 1990 127
Corporate Purpose Bond Series of 1991 128
Corporate Purpose Bond Series of 1992 129
Corporate Purpose Bond Series of 1993 130
Corporate Purpose Bond Series of 1994 131
VILLAGE OF GLENVIEW, ILLINOIS
Comprehensive Annual Financial Report
Table of Contents
December 31, 1994
PAGE
STATISTICAL SECTION
General Governmental Revenues by Source - Last Ten Fiscal Years 132
General Governmental Expenditures by Function - Last Ten
Fiscal Years 133
prOperty Tax Assessed Valuations, Rates, Extensions, and
Collections - Last Ten Fiscal Years 134
Assessed and Estimated Actual Value of Taxable Property -
Last Ten Fiscal Years 135
Property Tax Rates - Direct and Overlapping Governments -
Last Ten Fiscal Years 136
Ratio of Net General Obligation Bonded Debt to Assessed Value
and Net General Obligation Bonded Debt Per Capita -
Last Ten Fiscal Years 137
Schedule of Direct and Overlapping Bonded Debt 138
Schedule of Legal Debt Margin 139
Ratio of Annual Debt Service Expenditures for General Obligation
Debt to Total General Governmental Expenditures -
kast Ten Fiscal Years 140
Schedule of Revenue Bond Coverage - Last Ten Fiscal Years 141
Demographic Statistics - Last Ten Fiscal Years 142
Construction, Building Permits, and Bank Deposits -
Last Ten Fiscal years 143
Principal Taxpayers 144
Miscellaneous Statistics 145 - 147
Ten Wealthiest Illinois Communities - 1980 Census 148
Salaries and Surety Bonds of Principal Officials 149
Major Corporate Revenue Sources 150
VILLAGE OF GLENVIEW, ILLINOIS
PRINCIPAL OFFICIALS
DECEMBER 31, 1994
LEGISLATIYE~
VILLAGE BOARD OF TRUSTEES
Nancy M. Firfer, President
Emil Ulstrup John Patton, Jr.
Kent B. Fuller Charles K. Esler
William L. Stickney Joyce E. Kustra
Paul T. McCarthy
Clerk/Treasurer
EXECUTIVE
Paul T. McCarthy, Village Manager
FINANCE DEPARTMENT
Dennis M. Lauer, Director of Finance
Mary L. Reibel, Assistgnt Director of Finance
VILLAGE OF GLENVIEW
ORGANIZATIONAL CHART
i~T 'r.C'I~ORATF~
VILLAGE
6
(4 Y~ T~,~)
BOARDS AND COMMISSIONS APPOINTED BY THE P~SIDENT
AND
BOARD OF TRUSTEES
PLAN COMMISSION
APP~NCE COMMISSION
SENIOR CITIZEN COMMISSION
B~LDING COMMISSION
POLICE AND FI~ COMMISSION
POLICE PENSION BOA~
FI~ PENSION BOA~
ZONING BOA~ OF APPEALS
ELECT~CAL COMMISSION
FO~STRY COMMISSION
The Village of
Glenvlew VillageManager'sOffice
(708) 724-1700 extension 200
(708) 724-1518 ~x
hpril 28~ 1995
Honorable President and
Members of the Board of Trustees
Village of Glenview
Dear Village President and Board of Trustees:
statutes and local regulation, I hereby
In
accordance
with
state
transmit the comprehensive annual financial report of the Village
of Glenview as of December 31, 1994 and for the fiscal year then
ended. Responsibility for both the accuracy of the presented data
and the completeness and fairness of the presentation, including
all disclosures, rest with the Village. Management believes that
the data, as presented, is accurate in all material aspects; that
it is presented in a manner designed to fairly set forth the
financial position and results of operations of the Village as
measured by the financial activity of the various funds. Disclo-
sures necessary to enable the reader to maximum
gain
understanding
of the Village's financial affairs have also been included.
In developing and evaluating the Village's accounting system,
consideration is given to the adequacy of internal accounting
controls. Internal accounting controls are discussed by the
Director of Finance in his accompanying letter of transmittal, and
within that framework, I believe that the Village's internal
accounting controls adequately safeguard assets and provide
reasonable assurance of proper recording of financial transactions.
This report has been prepared following the guidelines recommended
by the Government Finance Officers Association of the United States
and Canada. The Government Finance Officers Association awards
Certificates of Achievement to those governments whose comprehen-
sive annual financial reports are judged to conform substantially
with high standards of public reporting including generally
accepted accounting principles promulgated by the Government
Accounting Standards Board. It is my belief that the accompanying
financial report meets the program standards and it will be
submitted to the Government Finance Officers Association for
review. The Village of Glenview has held a certificate for the
last ten consecutive fiscal years.
1225 WaukeganRoad ~ Glenview, Illinois60025 ~ (708)724-1700 ~ (708)724-4232TDD
±±i
In accordance with the above mentioned guidelines, the accompany-
ing report consists of three parts:
1. Introductory section, a letter of transmittal from the Direc-
tor of Finance.
2. Financial section, including the financial statements and
supplemental data of the government accompanied by our independ-
ent auditor's opinion.
3. Statistical section, including a number of tables of un-
audited data depicting the financial history of the Village for
the past ten years, information on overlapping governments, and
demographic and other miscellaneous information.
State law required that the financial statements of the Village
of Glenview be audited by a certified public accountant selected
by the Board. This has been
requirement
complied
with,
and
our
auditor's opinion is included in the financial section of this
report. Of concern to the Village of Glenview, as well as all
sectors, is the impact of the economy on our budget. Revenue
projections must be monitored constantly to provide the Board ad-
vance notice in the event the revenue patterns change. The
Director of Finance is entrusted with the responsibility of
evaluation and reporting on the financial condition of the Vil-
lage.
The preparation of this annual financial could not have
report
been accomplished without the dedicated effort of Dennis Lauer
and his entire staff. Their efforts over the past year maintain-
ing the accounting and financial reporting systems of the Village
of Glenview have continued to improve the quality of the informa-
tion being reported to the Board of Trustees, state oversight
boards, and the citizens of Glenview.
Respectfully submitted,
Paul T. McCarthy
Village Manager
Gl iage//iew FinanceDepartment
(708) 724-1700 extension 214
(708) 724-0916 fax
April 28, 1995
Mr. Paul T. McCarthy, Village Manager
Village of Glenview
Glenview, Illinois 60025
Dear Mr. McCarthy:
The Comprehensive Annual Financial Report of the Village of
Glenview for the fiscal year ended December 31, 1994 is hereby
submitted. Responsibility for both the accuracy of the data and
the completeness and fairness of the presentation, including ali.
disclosures, rests with the Village. To the best of my knowledge
and belief, the enclosed data is accurate in all material respects
and are reported in a manner designed to present fairly the
financial position and results of operations of the various funds
and account groups of the Village. All disclosures necessary to
enable the reader to gain an understanding of the Village's
financial activities have been included.
The Comprehensive Annual Financial Report is presented in three
sections: Introductory, Financial, and Statistical. The Introduc-
tory section includes the Village Manager's transmittal letter,
this transmittal letter, the Village's organizational chart, and a
list of principal officials. The Financial section includes the
general purpose financial statements, the combining individual fund
and account group financial statements and schedules, as well as,
the independent auditors' report on the financial statements and
schedules. The Statistical section includes selected financial and
demographic information, generally presented on a multi-year basis.
This report includes all funds and account groups of the Village of
Glenview. The Village provides a full range of services. These
services include police and fire protection, public services, the
construction and maintenance of streets, roads, and infrastructure,
recreational activities, and cultural events. In addition to
general Village activities, the Village Board exercises, or has the
ability to exercise, oversight of the Police and
Firefighters'
Retirement Systems; therefore, these activities are included in the
reporting entity. Financial statements of the Glenview Public
Library are included in this report as a discrete presentation.
The Library is considered a component unit of government because it
is governed by a separately elected board of trustees.
1225 WaukeganRoad ~ Glenview, Illinois¢002$ ~ (708)724-1700 ~ (7081724-42~2TDD
However, the Glenview Park District, the Intergovernmental
Personnel Benefit Cooperative (IPBC), the High-Level Excess
Liability Pool (HELP), the Solid Waste Agency of Northern Cook
County (SWANCC) and the Regional Emergency Dispatch Center (RED)
have not met established criteria for inclusion in the reporting
entity, and accordingly are excluded from this report.
It is of major importance to note the Village of Glenview took
over
the management and operations of the Glenbrook FiFe Protection Dis-
trict as of September 1, 1992. Prior to that date the District was
not included in this report. After September i, 1992, and for all
future reports the financial activity of the former District will
be included in the Village's Comprehensive Annual Financial Report.
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-128, Audits of
State and Local Governments. Information related to this single
audit, including the schedule of federal financial assistance,
findings and recommendations, and auditor's reports on the internal
control structure and compliance with applicable laws and regula-
tions, are included in a separately issued Single Audit Report.
ECONOMIC CONDITION AND OUTLOOK
Over the last several years the largest source of revenue to the
Corporate (General) Fund has been sales tax. During that period of
time, automobile sales have accounted for over forty percent. The
new Saturn dealership on Waukegan Road opened in early 1993. The
new dealership made a significant impact on the Village's sales tax
revenue. However, auto sales in the Village are generally in-
creasing. The total collections for 1994 ended the year ap-
proximately $250,000 above the sales tax collections for 1993.
room tax the Village's newest sotlrce of revenue. Several
Hotel
is
years ago the Village Board imposed a five percent tax. At that
time, there were only two small moderately priced hotels in the
Village and the revenue from this source was minor. However, in
1988 the Radisson Suite Hotel (now called the Doubletree Guest
Suites O'Hare North Glenview) opened with two hundred fifty rooms.
In mid 1989 the ~arriott Courtyard Hotel opened. The Marriott
Fairfield Inn opened in 1990. Hotel room tax is becoming a
significant revenue source. During fiscal year' 1995 I plan to make
a recommendation that the Village Board authorize an audit of each
hotel to ensure compliance with the
Village's
room
tax
ordinance.
Subsequent to December 31, 1994 the Village was awarded, for the
sixth time, a AAA bond rating by Moody's Investor Service. This
prestigious rating will not only make future bond issues more
attractive on the market, it will save the Village money in the
long run because of lower interest rates.
vi
MAJOR INITIATIVES
For The Year
Construction on Phase III of the Public Works Service Center was
completed in 1994. The building completes the Public Works Complex
located at the intersection of Lake Avenue and Shermer Road. The
Phase III building will be used for indoor parking and storage of
equipment and construction materials. The pro'ject was financed
with the proceeds of a $7.6 million 1993 bond issue.
Work continued during 1994 on the new Metra Railroad station. As
of the end of the year it is estimated that by March 1995 the work
will be finished and the station will be open to the public. The
Village's commitment to the project was approximately $300,000.
Two additional special service areas were established in 1994. One
was a residential area along Forest Drive and the other was the
cul-de-sac on Brandon Road. Both special service areas were for
the installation of water mains.
The United States Navy continued its task of closing the Glenview
Naval Air Station during 1994. Most personnel have been reassigned
and almost all of their aircraft have been deployed to other bases.
Much activity is planned for 1995 and is explained in the following
section.
For The Future
Much activity is expected in 1995 in connection with the closure of
the Glenview Naval Air Station. The Navy and the Village have
developed a very aggressive schedule of events for the upcoming
year. It is expected the base will be closed before the end of
1995. In March all flight operations ceased and tile airstrip and
control tower were considered "abandoned" by the F.A.A. The
Village's Public Works Department will begin day to day maintenance
of the base in July. This will include maintenance of the
buildings, grounds and utility systems. On September 30, 1995 the
last of the military personnel will be reassigned and the Village
will officially assume control of the base and all of its assets.
Before any redevelopment can occur on the former Navy Base certain
basic infrastructure must be put in place. Items such as roads,
utilities and centralized storm detention.
water
Such
improvements
are the responsibility of the Village. In anticipation of that
event, the Village plans to issue $60,000,000 of general obligation
bonds to finance the needed infrastructure. Preliminary discus-
sions with Moody's Investors Service indicates the new bond issue
will receive their highest rating Aaa. The bond sale is scheduled
for the third week of January.
vii
DEPARTMENT FOCUS
A major task for the Finance Department in 1994 was the development
of an operating budget for the closure activities on the Navy Base.
The budget was developed in 1994 to be adopted and put into use in
1995. The Navy Base budget will be adopted in the same manner as
is the Village's operation budget. However, it will be published
under separate cover.
Glenview's investment policy was written and adopted in 1982.
Subsequent to that date the policy has undergone several revisions.
In 1994 the management staff of the Finance Department reviewed the
policy to insure it is current with state law and addresses new in-
vestment opportunities available in today's market.
FINANCIAL INFORMATION
Management of the Village is responsible for establishing and main-
taining an internal control structure designed to ensure that the
assets of the Village are protected from loss, theft or misuse, and
to ensure that adequate accounting data are compiled to allow for
the preparation of financial statements in conformity with
generally accepted accounting principles. The internal control
structure is 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
costs and benefits requires estimates and judgments by management.
BUDGETING CONTROLS
In addition, the Village of Glenview maintains budgetary controls.
The objective of these budgetary controls is to ensure compliance
with legal provisions embodied in the annual appropriated budget
approved by the Village's governing body. Activities of the
Corporate (General) fund, Special Revenue funds, Debt Service
funds, Enterprise funds, and Pension Trust funds are included in
the annual appropriated budget. Project-length financial plans are
adopted for the Capital Projects funds. The level of budgetary
control (that is, the level at which expenditures cannot legally
exceed the appropriated amount) is established at the fund level.
The Village also maintains an encumbrance acccunting system as one
technique of accomplishing budgetary control. Encumbered amounts
lapse at year end. However, encumbrances generally are reappropri-
ated as a part of the following year's
budget.
As demonstrated by the statements and schedules included in the
financial section of this report, the Village continues to meet its
responsibility for sound financial management.
viii
GENERAL GOVERN~ENT FUNCTIONS
The following schedule presents a summary of Corporate (General)
fund, Special Revenue funds, and Debt Service funds and Component
Unit - Library fund revenues for the fiscal year ended December 31,
1994, and the amount and percentage of increases or decreases in
relation to prior year revenues.
Increase Percent of
Percent (Decrease) Increase
Revenues Amount of Total from 1992 (Decrease)
Taxes $ 19,389,599 71.47 $1,002,724 5.45
Licenses and Permits 2,434,500 8 97 1,391,892 133.50
Intergovernmental 1,965,102 7 24 <393,426> <16.68>
Charges for Services 1,696,990 6 25 447,586 35.82
Fines and Forfeits 302,313 1 10 <19,575> <6.08>
Interest 194,059 72 <32,196> <14.23>
~iscellaneous 1,152,197 4 25 231,955 25.21
Total $27,134,760 100.00 $2,628,960
Funds received from the Department of the Navy for maintaining closed
structures on the Glenview Naval Air Station account for the majority
of the increase over last year's revenue.
The following schedule presents a summary of Corporate (General) fund,
Special Revenue funds, Debt Service funds and Component Unit - Library
fund expenditures for the fiscal year ended December 31, 1994, and the
percentage of increases or decreases in relation to the prior year.
Increase Percent of
Percent (Decrease) Increase
Expenditures Amount of Total from 1992 (Decrease)
Current:
General Government $ 4,726,972 19.30 $ 1,481,273 45.64
Public Safety 9,872,705 40.30 373,872 3.94
Highways and Streets 3,348,927 13.67 52,295 1.59
Pension 2,083,931 8.51 137,083 7.04
Culture and Recreation 2,450,588 10.00 106,987 4.57
Debt Service:
Principal Retirement 1,115,000 4.55
340,000
43.87
Interest & Fiscal Chgs 899,832 3.67 <71,500> <7.36>
Total $24,497,955 100.00 $2,420,010
The General Government classification of expenditures shows a 45.6%
increase over last year. The main reason is the increased costs
associated with the closing of the Glenview Naval Air Station. The
Village began incurring closure expenses in early 1994.
CORPORATE (GENERAL) FUND BALANCE
The fund balance of the Corporate (General) Fund increased by 0.2
percent in 1994. The $24,129 increase now provides the Village with
a total fund balance that is the equivalent to 128 working days of
expenditures. Village policy is to maintain a minimum of 90 days of
working cash in reserve. Included in the increase in the fund balance
are the last of the funds collected for the income tax surcharge that
have not been appropriated as of the end of the'year.
ENTERPRISE OPERATIONS
The Village's enterprise operations are comprised of four separate and
distinct activities: Water Fund serving the incorporated and
unincorporated areas of Glenview, Wholesale Water Fund providing water
to Citizens Utility Company. The other two enterprise activities are
the Sewerage Fund and the Commuter Parking Fund.
PENSION TRUST FUND OPERATIONS
The operations of the Police Pension Fund remained relatively stable
in 1994. The Firefighters' Pension Fund shows a large increase in the
assets of the fund. That is a direct result of the merger between the
Glenbrook Fire Protection District and the Village which doubled the
size of the portfolio and allowed
for
greater
yields.
The
annual
actuarial valuation continues to reflect a positive trend in the
Village's and employees' funding of the PERS.
DEBT ADMINISTRATION
At December 31, 1994, the Village had a number of debt issues out-
standing. These issues are all general obligation bonds. Under
current state statutes, the Village's general obligation bonded debt
issuances are not subject to a legal limitation based on the Village's
Home Rule
powers.
CASH MANAGEMENT
Cash temporarily idle during the year was invested in demand deposits,
certificates of deposit, and obligations of the U.S. Treasury. The
Pension Trust Fund's investment portfolio includes mainly zero coupon
bonds. The average yield on investments, excluding the Pension Trust
Fund, was 6.42 percent. The Pension Trust Fund achieved a yield rate
of 8.84 percent for this same period. This higher rate of return on
pension fund investments is attributable to the
long-term
nature
of
most holdings in its portfolio.
The Village's investment policy is to minimize credit and market risks
while maintaining a competitive yield on its portfolio. Accordingly,
deposits were either insured by federal depository insurance or
collateralized. All collateral on deposits is held by
a financial institution acting as a third party trust agent. Ninety-
nine percent of investments held by the Village during the year, and
at December 31, 1994, are classified in the category 1 (lowest credit
risk) as defined by the Governmental Accounting Standards Board.
RISK MANAGE~IENT
The Village of Glenview is involved in two public entity risk pools.
The first pool, Intergovernmental Personnel 'Benefit Cooperative
(IPBC), is an organization of twenty-four communities. This or-
ganization provides health coverage and life insurance for a portion
of Village employees. Participation in the IPBC is optional;
employees may also choose to participate in an HMO plan. The Village
has been a member of the IPBC pool since its formation in 1980.
Glenview is also a member of the High-Level Excess Liability Pool
(HELP). This pool is made up of fourteen villages. The purpose of
the pool is to provide excess liability protection for its members.
Presently the pool provides five million dollars of insurance. The
lower limit required insurance is one million dollars. Membership in
HELP is an eleven year commitment. Beginning May 1, 1994 the pool
will begin its eighth year of operation.
INDEPENDENT AUDIT
State statutes require an annual audit by independent certified public
accountants. The accounting firm of Crowe Chizek, CPA's was selected
by the Village Board. In addition to meeting the requirements set
forth in state statutes, the audit also was designed to meet the
requirements of the federal Single Audit Act of 1984 and related OMB
Circular A-i28~ The auditor's reports related specifically to the
single audit are included in the 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 for the fiscal year ended December 31, 1993.
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
governmental
unit must publish an easily readable and efficiently organized com-
prehensive annual financial report (CAFR), whose contents conform to
program standards. Such CAFR must satisfy both generally accepted
accounting principles and applicable legal requirements.
CROWE CHIZEK
REPORT OF INDEPENDENT AUDITORS
The Honorable Nancy Firfer, 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 ended December listed in the table of
year
31,
1994,
as
accompanying
contents,
and the general fund balance sheet as of December 31, 1993 and related statement of revenues,
expenditures, and changes in fund balance for year ended December 31, 1993. These financial
statements the of the of Illinois' Our
are
responsibility
Village
Glenview,
management.
responsibility is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with standards;
generally
accepted
auditing
"Government Auditing Standards", issued by the Comptroller General of the United States;
and the provisions of the Office of Management and Budget Circular A-128, "Audits of State
and Local Governments". Those standards that and the audit to
require
we
plan
perform
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 the financial position of the Village of Glenview, Illinois, as of December 31,
respects,
1994, 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 financial statements referred to
group
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, 1994, 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, 1993 and the
results of its operations for year ended December 31, 1993, in conformity with generally
accepted accounting principles.
1
Our audits were 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 is presented for purposes of additional
analysis and is not a required 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 Company
Oak Brook, Illinois
April 28, 1995
2
VILLAGE OF GLENVIEW, ILLINOIS
All Fund Types and Account Groups
Combined Balance Sheet
December 31, 1994
(See Following Page)
VILLAGE OF GLEN-VIEW, ILLINOIS
All Proprietary and Fiduciary
(Pension Trust) Fund Types
Combined Statement of Revenues, Expenses,
and Changes in Retained Earnings/Fund Balances
Year Ended December 31, 1994
(with comparative totals for 1993)
Fiduciary
Proprietary Fund Types Fund Type Totals
Intornal Pension (Memorandum Only)
F~LE~gr~ Service Trust 1994 1993
Operating revenues
Taxes $ $ $ 558,159 $ 558,159 $ 290,197
Charges for services 7,997,180 2,801,143 10,798,323 10,317,347
Contributions 540,891 540,891 568,112
Interest 2,937,593 2,937,593 1,681,711
Miscellaneous 443.247 194.157 637.404 4.170.891
Total operating revenues ~ 2.995.3~ 4.036.643 15.472.370 17.028.258
Operating expens~
Administration 718,017 718,017 815,520
Operations 4,714,356 2,889,365 7,603,721 7,097,414
Depredation 551,934 551,934 538,234
Benefits and refunds 1,012,720 1,012,720 835,253
Miscellaneous 10.054 10.054
Total operating expenses 5.984.307 2.889.365 1.022.774 9.896.446
Operating income ~ 105.935 3.013.869 5.575.924
Nonoperating r~veoues
(expenses)
Interest income 83,040 52,049 135,089 112,466
Income from public entity
risk pool 101,379 101,379 28,813
Interest expense and fiscal
charges (422,991) (422,991) (446,809)
Gain on sale of fixed
assets 15.210
(339.95D 153.428 XJ2tfi.~j (290.320)
Income before operating
transfers ~ 259.363 3.013.869 5.389.401
Operating transfers in 69,504 69,504 66,621
OperatLng transfers (out) (832.950) (5.5003 (838.450) (647.337)
(832.950) (5,500) 69.504 (768.946) (580~716)
Net income 1,283,219 253,863 3,083,373 4,620,455 6,844,886
Retained earnings/fund
balances
January 1 12.705.371 2.254.733 39.171.084 54.131.188 47.286.302
December 31 $13.988.590 $2.508.596 $42.254.457 $58.751.64,3 $54,131.188
See accompanying notes to financial statements.
6
VILLAGE OF GLENVIEW, ILLINOIS
All Proprietary Fund Types
Combined Statement of Cash Flows
Year Ended December 31, 1994
(with comparative totals for 1993)
Proprietary Fund Types Totals
Internal (Memorandum Only)
Enterprise Service 1994 1993
Cash flows from operating activities
Operating income $ 2,456,120 $ 105,935 $ 2,562,055 $ 2,133,234
Adjustments to reconcile operating
income to net cash provided by
(used in) operating activities
Operating transfers out (832,950) (5,500) (838,450) (647,337)
Depreciation and amortization 551,934 551,934 538,234
Changes in assets and liabilities
Accounts receivable (376,549) 186 (376,363) (66,262)
Prepaid expenses (413,356) (413,356)
Advance to other funds (115,234) (115,234) (34,3,549)
Due from other funds (267,451) (267,451) 2,124,609
Inventory (1,697)
Deposit in IPBC 264,326
Accounts payable 8,343 8,343 39,570
Compensated absences
payable 4,977 4,977 6,474
Other payable (26,368) (26,368) 16,565
Due to other funds ~ ~Z72,8~.)
~ ~ ~ 3.581:736
Cash flows from capital and related
financing activities
Fixed assets purchased (231,939) (231,939) (1,765,024)
Proceeds from sale of assets 15,210
Principal paid on general
obligation bonds (810,000) (810,000) (710,000)
Interest paid on general
obligation bonds ~) _(~9~2) (443:180)
(1.451.8n) (1.~51.8n)
Cash flows from
investing
activities
Interest on cash equivalents 83~040 ~ 135,089 112.466
Net increase (decrease) In cash and
cash equivalents (238,806) (260,686) (499,492) 791,208
Cash and cash equivalents
January 1 1.784.767 ~ 3.613.334
December31 $ 1.545.961 $ 1.567.881 ~ $ 3.613.334
Noncash Investing, Capital, and Financing Activities
The Internal Service Funds recorded income of $101,379 on their investment in public entity risk
for the year ended December 31, 1994.
See accompanying notes to financial statements.
7
VILLAGE OF GLENVIEW, ILLINOIS
Notes to Financial Statements
December 31, 1994
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
traits. 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 policies 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
component units discussed below are included in the Government's reporting entity because of
the significance of their operational or financial relationship with the Government.
Blended Component Units:
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 obligated 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 police employees, and because of the fiduciary nature of such activities.
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 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
of the characteristics of a legally separate government, the FPERS is
possesses
many
reported as if it were part of the primary government because its sole purpose is to finance
and adm'mister the pensions of the Government's firefighters, and because of the fiduciary
nature of such activities.
(Continued)
8
VILLAGE OF GLENVIEW, ILLINOIS
Notes to Financial Statements
December 31, 1994
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Entity: (Continued)
Reporting
Discretely Presented Component Un~t:
Village of Glenview Public Library (Library)
Library a separately elected seven-member board which annually
The
Glenview
Public
has
determines its budget and resulting tax levy. Upon approval of the Government, the levy
is submitted to the County. All debt of the Library is secured by the full faith and credit of
whotiy liable for the debt. The Library, while servicing the
the
Government
which
is
general population of the Government, does not provide services entirely to the
Government. Because the Library possesses the characteristics of a legally separate
government primary government, the Library is being reported as
and
does
not
service
the
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 six-community area. consists of Board
Management
a
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 control over the activities of the
any
Agency
beyond
its
representation on the Board of Directors. R.E.D. is reported as a governmental joint
venture. Additional requi~ed 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, consists of
Management
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 the net of
Agency,
assets
SWANCC will be shared proportionately by its members. SWANCC is reported as a
proprietary joint venture.
(Continued)
9
VILLAGE OF GLENVIEW, ILLINOIS
Notes to Financial Statements
December 31, 1994
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Accounting: The Government uses funds and account groups to report on its financial
Fund
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 serf-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 government's 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)
10
VILLAGE OF GLENVIEW, ILLINOIS
Notes to Financial Statements
December 31, 1994
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Accounting: (Continued)
Basis
of
All proprietary funds, nonexpendable trust funds, and pension trust funds are accounted for
a resources measurement focus. With this measurement focus, all assets
on
flow
of
economic
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 capita]
earnings components. Proprietary fund-type operating statements present
and
retained
increases (i.e., revenues) and decreases (i.e., expenses) in net total assets.
of accounting is used by ail governmental fund types, expendable
The
modified
accrual
basis
trust funds, and agency funds. Under the modified accrual basis of accounting, revenues are
recogaaized when susceptible to accrual (i.e., when they become both measurable and
means amount of the transaction can be determined and
available).
the
"available" means collectible within the current period. The Government recognizes property
taxes when they become both measurable and available in accordance with GASB Codification
one-year availability period is used for revenue recognition for all other
Section
P70.
A
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 franchise
property
taxes,
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 Govemment before it has a legal claim to them, as when grant monies are received prior to
the incurrence of qualifying expenditures. In subsequent periods, when both revenue
recognition criteria are met, or when the Government has a claim to the
legal
resources,
the
liability for deferred revenue is removed from the combined balance sheet and revenue is
recognized.
(Continued)
11
VILLAGE OF GLENVIEW, ILLINOIS
Notes to Financial Statements
December 31, 1994
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, and Debt Service Funds on the modified accrual basis, and 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:
Corporate Purpose Bond Series, 1991
Corporate Purpose Bond Series, 1994
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 Debt Service
Funds exclude the aforementioned funds.
The following is a reconciliation of the Debt Service Funds presented on a budgetary basis to
the GAAP basis presentation.
Fund Balances - Budgeted Debt Service Funds,
at December 31, 1994
GAAP Basis $ 1,489,082
Nonbudgeted Fund Balances
Corporate Purpose Bond Series, 1991 25,931
Corporate Purpose Bond Series, 1994 __~)
1,028
Fund Balances - All Debt Service Funds, at
December 31, 1994
GAAP Basis $ 1.490.110
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 applicable
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 liabilities because the commitments will be honored during the subsequent
year.
(Continued)
12
VILLAGE OF GLENVIEW, ILLINOIS
Notes to Financial Statements
December 31, 1994
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
purposes statement of cash flows, the Government's
Cash
and
Investments:
For
of
the
proprietary fund types consider all highly liquid investments with an original maturity of three
months or less when purchased to be cash equivalents.
Investments: Investments are stated at cost or amortized cost, subject to adiustment for market
declines judged to be other than temporary (lower of cost or market), except for investments in
compensation agency fund which are reported at market value.
the
deferred
Short-term Interfund Receivables/Payables: During the course of operations, numerous
occur between individual funds for goods provided or services rendered. These
transactions
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.
Items/Expenses: Payments to vendors for services that will benefit periods
Prepaid
made
beyond the date of this report are recorded as prepaid items/expenses.
are capitalized the funds used to acquire or construct
Fixed
Assets:
General
fixed
assets
not
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, are at cost where historical records are available and
All
purchased
fixed
assets
valued
at an estimated historical cost where no historical records exist. Donated fixed assets are valued
at their estimated fair market 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 capitalized and depreciated
over the remaining useful lives of the related fixed
assets,
as
applicable.
Public domain ("infrastructure") general fixed assets consisting of roads, bridges, curbs and
systems lighting systems are not capitalized, as
gutters,
streets
and
sidewalks,
drainage
and
these assets are immovable and of value only to the Government.
group are not depreciated. Depreciation of buildings,
Assets
the
general
fixed
assets
account
equipment, water/sewer systems, and vehicles in the proprietary fund types is computed
using the straight-line method.
(Continued)
13
VILLAGE OF GLENVIEW, ILLINOIS
Notes to Financial Statements
December 31, 1994
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Fixed Assets: (Continued)
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 fi.md liability of a
governmental fund. The remaining portion of such obligations is reported in the general long-
term debt account group. Long-term liabilities 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.
Interfund Transactions: Quasi-external transactions are accounted for as revenues,
expenditures, or expenses. Transactions that constitute reimbursements to a fund for
expenditures/expenses
initially 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.
(Continued)
14
VILLAGE OF GLENVIEW, ILLINOIS
Notes to Financial Statements
December 31, 1994
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Interfund Transactions
(Continued)
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. Interfund 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
c anges m the Government s financial position, operations, and cash flows.
NOTE 2 LEGAL COMPLIANCE
AND
ACCOUNTABILITY
Budgets: Ail departments of the Government submit requests for appropriation to the
manager so a budget may be prepared. The budget is prepared by fund,
Government's
that
and includes information on the past year, current year estimates, and requested
appropriations for the next fiscal year.
The proposed budget is presented to the governing body for review. The governing body
holds pubhc 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, revisions that alter the total of fund
any
expenditures
any
must
be
approved
by
the governing body.
may budgeted appropriations at level. During the
Expenditures
not
legally
exceed
the
fund
year, several supplementary appropriations were necessary.
(Continued)
15
VILLAGE OF GLENVIEW, ILLINOIS
Notes to Financial Statements
December 31, 1994
NOTE 2 - LEGAL COMPLIANCE AND ACCOUNTABILITY (Continued)
Deficit Fund Balances of Individual Funds: The following funds had a deficit in fund balance
as of the date of this report:
Deficit
Fund Balance
Illinois Municipal Retirement $ (1,311,091)
Corporate Purpose Bond Series of 1994 (24,903)
Bond Fund Series 1989 (7,148)
Excess of Actual ExpendituresfExpenses 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
Illinois Municipal Retirement $ 142,889
Waterworks 309,956
Insurance 12,700
Firefighters' Pension 50,551
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 $3,475 has been excluded
from the amounts shown below.
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
Public Treasurer's Investment Pool. 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 pollfical subdivisions, and Illinois insurance company
general and separate accounts.
(Continued)
16
VILLAGE OF GLENVIEW, ILLINOIS
Notes to Financial Statements
December 31, 1994
NOTE 3 - DEPOSITS AND INVESTMENTS (Continued)
Deposits: At year-end the carrying amount of the Government's deposits totaled $29,267,189
and the bank balances totaled $32,135,890.
Balances
Category 1
Deposits covered by federal depository insurance, or
by collateral held by the Government, or its agent,
in the Government's name. $ 27,127,119
Category 2
Deposits covered by collateral held by the pledging
financial institution's trust department, or by its
agent, in the Government's name. 5,000,869
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 uncollaterahzed. 7.902
Total deposits $ 32,135.890
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 Government'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
rtame.
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 and uncollateralized investments.
(Continued)
17
VILLAGE OF GLENVIEW, ILLINOIS
Notes to Financial Statements
December 31, 1994
NOTE 3 - DEPOSITS AND INVESTMENTS (Continued)
Investments (Continued)
Carrvin~z Amount
~_e.g_~-" Market
1 2 3 Totals Value
U.S. Treasury Securities $ 28,857,734 $ $ $ 28,857,734 $ 28,149,932
Israel Bonds t4,018,241 14,018,241 11,424,152
U.S. Agency Security
(GNMA's) 1.260.891 1,260,891 1.181.519
$44.136.866 $ $ 44,136,866 40,755,603
* Deferred Compensation
Plan Assets 9,380,270 9,380,270
* Insurance Contracts and
Separate Accounts 309,927 309,927
Total Investments $ 53.827.063 $ 50.445.800
* (Not Subject to Risk Categorization)
The pension trust funds own 92 percent of the investments in Category 1.
NOTE 4 - RECEIVABLES-TAXES
Property taxes for 1994 attach as an enforceable lien on January 1, 1994, 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,
1995, and August 1, 1995, and are payable in two installments, on or about March 1, 1995 and
September 1, 1995. 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.
(Continued)
18
VILLAGE OF GLENVIEW, ILLINOIS
Notes to Financial Statements
December 31, 1994
NOTE 5 - FIXED ASSETS
General Fixed Assets Account The is of in the
Group:
following
a
summary
changes
general
fixed assets account group during the fiscal year:
Balances Balances
lanuary 1 Additions Retirements December 1
Land $ 3,405,095 $ $ $ 3,405,095
Buildings and improvements 7,727,257 133,797 7,861,054
Equipment 6,380,500 638,854 7,019,354
Furniture 296,096 296,096
Office equipment 328.841 328.841
$18.137.789 $ 772,65~ $ $ 18.910.440
Balances Balances
lanuary 1 Additions Retirements December 1
Discretely presented component
unit - Library:
Land $ 500,000 $ $ $ 500,000
Buildings and improvements 4,100,540 4,100,540
Equipment 437,329 6,088 443A17
Furniture 271,300 271,300
Office equipment 3.286 3.286
$ 5.312.455 $ 60.880 ~; - $ 5.318,543
Proprietary Fixed Assets:
The following is a summary of proprietary fund-type fixed assets as of the date of this report:
Land and improvements $ 67,851
Leasehold improvements 203,309
Water/sewer systems 20,903,517
Buildings 243,645
Equipment and vehicles 5,486,941
Office furniture and equipment 5.457
26,910,720
Less accumulated depreciation and amortization 7.473.614
$ 19.437,106
(Continued)
19
VILLAGE OF GLENVIEW, ILLINOIS
Notes to Financial Statements
December 31, 1994
NOTE 5 - FIXED ASSETS (Continued)
Proprietary Fixed Assets: (Continued)
In proprietary funds, the following estimated useful lives are used to compute depreciation:
Leasehold improvements 10-20 years
Water/sewer systems 50 years
Buildings 40-50 years
Equipment and vehicles 3-10 years
Office furniture and equipment 3-10 years
NOTE 6 - RISK MANAGEMENT
The Government has purchased insurance from private insurance companies for general
liability, worker's compensation, property, auto, law enforcement liability, ambulance
attendants' liability and other risks. The policies call for various levels of deductibles or self-
insured retentions.
The Government has established an Insurance Fund (an internal service fund). Each
participating fund makes payments to the Insurance Fund for amounts which are actuarially
determined. Such payments are displayed on the finandal statement as revenues and
expenditures/expenses (quasi-external transfers).
Intergovernmental Personnel Benefit Cooperative (IPBC)
The Government partidpates in the Intergovernmental Personnel Benefit Cooperative (IPBC).
IPBC is a proprietary joint venture 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 these members to their officers and employees and to the
officers and employees of certain other governmental, quasigovernmental, and nonprofit
public service entities.
The Cooperative acts as an administrative agency to receive, process and pay such claims as
may come within the benefit program of each member.
Management consists of a Board of Directors comprised of one appointed representative from
each member. In addition, there are two officers: a Benefit Administrator and a Treasurer.
The Government does not exercise any control over the activities of the Cooperative beyond its
representation on the Board of Directors.
(Continued)
20
VILLAGE OF GLENVIEW, ILLINOIS
Notes to Financial Statements
December 31, 1994
NOTE 6 - RISK MANAGEMENT (Continued)
Intergovernmental Personnel Benefit Cooperative (IPBC) (Continued)
For the year ended June 30, 1994, IPBC had a total equity of $1,897,928, of which $2,634,220 was
attributed to the Terminal Reserve. The Government's proportionate share of the Terminal
Reserve was $78,479 and is recorded as a deposit. The remaining equity of $(736,292) includes
the Government's proportionate share of $(21,934). The Government's total payments for the
year ended December 31, 1994 were 51.320,145.
High-Level Excess Liability Pool (HELP)
The Government participates in the High-Level Excess Liability Pool (HELP). HELP is a
proprietary joint venture established by certain municipalities in Illinois to provide excess
liability coverage ($5,000,000 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.
The purpose of HELP is to act as a joint self-insurance pool 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 by-laws, rules and regulations, and exercises such powers
and performs such duties as may be prescribed in the HELP Agreement or the by-laws.
The Government does not exercise any control over the activities of HELP beyond its
representation on the Board of Directors.
At April 30, 1994, the total equity of HELP was $7,553,655, of which the Government's share
was $487,966. For the year ended April 30, 1994, the net income of HELP was $1,014,463, of
which the Government's share was $65,534. The Government payments to HELP during the
year ended December 31, 1994 were $60,626.
(Continued)
21
VILLAGE OF GLENVIEW, ILLINOIS
Notes to Fitmncial Statements
December 31, 1994
NOTE 7 - LEASE OBLIGATIONS
No material capital or operating leases were in effect as of the date of this report.
NOTE 8 - LONG-TERM DEBT
Changes in Long-Term Liabilities: During the fiscal year the following changes occurred in
liabilities reported in the General Long-Term Debt Account Group:
Balances Balances
lanuary 1 Additions Reductions December 31
General Obligation Bonds $ 19,001,200 $ 8,040,000 $ 8,665,000 $ 18,376,200
Pension Obligation Payable 260,277 - 260.277
$ 19,261,477 $ 8,040.000 $ 8,925,277 $ 18,376,200
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 By lanuary 1 Additions Reductions December 31
$3,000,000 Library Building Bonds
dated July 1, 1984, due in annual
installments of $225,000 to $275,000
plus interest at 8.5% to 10.0% Debt
through December 1, 1994. Service $ 275,000 $ $ 275,000 $
$4,525,000 Corporate Purpose
Bonds dated July 1, 1977, due in
annual installments of $225,000 to
$375,000 plus interest at 4.6% to Water
6.0% through January 1, 1998. Works 1,350,000 300,000 1,050,000
(Continued)
VILLAGE OF GLENVIEW, ILLINOIS
Notes to Financial Statements
December 31, 1994
NOTE 8 - LONG-TERM DEBT (Continued)
General Obligation Bonds: (Continued)
Fund Debt Balances BaLances
Issue Retired By lanuary 1 ~ Reductions December 31
$8,000,000 Corporate Purpose
Bonds Series of 1989 dated Ju]y 1,
1989, due in annual installments of
$125,000 to $625,000 plus interest at
6.10% to 6.60% through Debt
December 1, 2004. Service $ 6,625,000 $ 5,525,000 * $ 1,100,000
$4,500,~00 Corporate Purpose
Bonds Series of 1990 dated May 1,
1990, due in annual installments oi~
$50,000 to $600,000 plus interest at
6.10% to 6.90% through Debt
December 1, 1999. Service 4,000,000 2,850,(KI3 * 1,150,0(13
$4,165,000 Corporate Purpose
Bonds Series of 1991 dated Water-
December 1, 1991, due in annual Works 2,898,800 425,000 2,473,800
installments of $50,000 to $60,000
plus interest at 6.10% to 6.90% Debt
through December 1, 2002. Service 466,200 466,200
$2,895,000 Corporate Purpose
Bonds Series of 1992 dated April 1,
1992, due in annual installments of
$10,000 to $255,000 plus interest at Whole-
4.00% to 5.90% through sale
December 1, 2012. Water 2,885,000 85,000 2,800,000
$7,635,000 Corporate Purpose
Bonds dated May 1, 1993, due in
annual installments of $205,000 to
$1,345,000 plus interest at 4.60% to Debt
4.70% through December 1, 2005. Service 7,635,000 7,635,000
$8,040,000 General Obligation
Refunding Bonds dated September
15, 1994 due in annual installments
of $15,000 to $1,275,000 plus interest Debt
at 4.00% to 5.10%. Service 8.040.000 15.000 8.025.000
$ 26.135.000 $ 8.040.000 $ 9.475.000 $ 24.700.0~0
· Includes amounts in-substance defeased
of
$7,550,000.
(Continued)
23
VILLAGE OF GLENVIEW, ILLINOIS
Notes to Financial Statements
December 31, 1994
LONG-TERM DEBT (Continued)
Service Requirements to Maturity
debt service requirements to maturity are as follows:
General Obligation
Fiscal Year General Bonds Carried
Ending Obligation as Enterprise
December 31 Bonds Fund Liabilities Totals
1995 $ 2,043,504 $ 1,511,240 $ 3,554,744
1996 2,239,462 1,303,247 3,542,709
1997 2,299,130 1,247,675 3,546,805
1998 2,501,695 653,410 3,155,105
1999 2,478,740 583,509 3,062,249
2000 2,388,914 267,524 2,656,438
2001 2,269,016 265,444 2,534,460
2002 2,275,221 262,944 2,538,165
2003 1,945,881 270,014 2,215,895
2004 1,949,041 266,024 2,215,065
2005 1,408,216 266,574 1,674,790
2006 266,334 266,334
2007 265,284 265,284
2008 268,490 268,490
2009 270,720 270,720
2010 266,860 265,860
2011 267,340 267,340
2012 271.830 271.830
principal and interest $ 23.798.820 $ 8.774.463 ~ 32.573.283
portion $ 5,422.620 $ 2.450.663 $ 7.873.283
(Continued)
24
VILLAGE OF GLENVIEW, ILLINOIS
Notes to Financial Statements
December 31, 1994
NOTE 8 - LONG-TERM DEBT (Continued)
Legal Debt Margin
The Government is a home rule municipality.
Chapter 65, Section 5/8-5-1 Illinois Compiled Statutes governs computation of the legal debt
mai*gin.
"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 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 Bonds, Series 1991
On November 19, 1991, the Government passed an ordinance providing for the issuance of
$4,165,000 General Obligation Bond Series of 1991 and the levy and collection of a direct annual
tax for the payment of principal and interest on the bonds. On December 1, 1991, the
Government passed an ordinance directing the execution of an escrow agreement in order to
partially refund $875,000 of Library Bond Series of 1984 issued by the Government and
outstanding in the aggregate principal amount of $1,650,000.
Proceeds in the amount of $946,182 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.
Proceeds in the amount of $3,171,875 were used to call the entire amount of outstanding 1979
Corporate Purpose Bonds ($3,425,000) on January 2, 1992.
Although no legal (satisfaction of debt) in this transaction, all
there
has
been
defeasance
conditions which normally satisfy defeasance of the $875,000 of the Library Bond Series of 1984
have been met.
These 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.
(Continued)
VILLAGE OF GLENVIEW, ILLINOIS
Notes to Financial Statements
December 31, 1994
NOTE 8 - LONG-TERM DEBT (Continued)
Advance Refunding - General Obligation Bonds, Series 1991 (Continued)
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 subject 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.
Schedule of Future Requirements - Library
Bond Series of 1984 tobe paid from escrow:
Fiscal Year
Ending Interest
December 31 Rates Principal
1995 9.75 $ 275,000
1996 9.90 275,000
1997 10.00 275,000
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.
(Continued)
26
VILLAGE OF GLENVIEW, ILLINOIS
Notes to Financial Statements
December 31, 1994
NOTE 8 - LONG-TERM DEBT (Continued)
Advance Refunding - General Obligation Refunding Bonds, Series 1994 (Continued)
Although there has been no legal defeasance (satisfaction of debt) in this transaction, all
wttich normally satisfy defeasance partial of the $5,025,000
conditions
of
the
General
Obligation Bond Series of 1989 and $2,525,000 of General Obligation Bond Series of 1990 have
been met.
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 maturfies
approximate the Debt Service Requirements of the original issue.
that
The proceeds in escrow are not subject to lien for any purpose other than in connection with
the advance transaction.
Since the requirements which normally satisfy defeasance have been met, the financial
statements reflect satisfaction of the the irrevocable transfer
liability
through
to
escrow agent of an amount computed to be adequate to meet the future Debt Service
Requirements of the Issue.
Schedule of Future Requirements
Corporate Purpose Corporate Purpose
Fiscal Bond Series of 1989 Bond Series of 1990
Year
Ending Interest Interest
December 31 Rate Principal Rate
1997 6.30 $ 600,000 6.80 $ 425,000
1998 6.40 650,000 6.85 425,000
1999 6.40 700,000 6.90 450,000
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
(Continued)
27
VILLAGE OF GLENVIEW, ILLINOIS
Notes to Financial Statements
December 31, 1994
NoTE 8 - LONG-TERM DEBT (Continued)
Noncommitment Debt
Special Service Area Bonds: Special service area bonds outstanding as of the date of this
report totaled $1,335,219. These bonds are not an obligation of the Government and are
secured by the levy of special assessments on the real property within the special assessment
area. The Govermnent is in no way liable for repayment but is only acting as agent for the
property owners in levying and collecting the assessments and forwarding the collections to
bondholders.
NOTE 9 - CONTRACTUAL COMMITMENTS
High-Level Excess Liability Pool (HELP)
The Government has committed to purchase excess hability insurance from the High-Level
Excess
Liability Pool (Agency), a public entity risk pool for certain Illinois municipalities. The
Government expects to pay the following minimum amounts (these amounts represent the
Government's share of the principal and interest - "fixed costs" - of the Agency):
Fiscal
Year Ending
December 3~ Amount
1995 $ 46,068
1996 46,988
1997 46,045
1998 46,570
These amounts have been calculated using the Government's current allocation percentage of
5.73%. In future years this allocation percentage will be subject to change, because the
Agency's Agreement provides that each year Members will be assessed based upon a formula
which specifies the following four criteria for allocating premium costs:
Miles of Streets
Full-Time Equivalent Employees
Number of Motor Vehicles
Operating Revenues
(Continued)
28
VILLAGE OF GLENVIEW, ILLINOIS
Notes to Financial Statements
December 31, 1994
NOTE 9 - CONTRACTUAL COMMITMENTS ((Continued)
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 (Agency). The
Government's share of dual costs is expected to be funded through tipping fees paid by refuse
haulers. The Government expects to be delivering refuse to the Agency beginning May of
1995. Cost projection amounts are not yet available for 1995.
The Agency has entered into Solid Waste Disposal Contracts with 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 the
Agency of its obligations under this Contract.
NOTE 10 - INTERFUND ASSETS/LIABILITIES
Due From/To Other Funds
General. Illinois Municipal Retirement $ 1,005,000
Refuse and Recycling 250,000
Capital Equipment Replacement 160,779
Escrow 139,399
911 Communications General 23,653
Library Bond Series of 1984 Corporate Purpose Bond Series of 1990 94,058
Corporate Purpose Bond Series
of 1989 General 275,413
(Continued)
29
VILLAGE OF GLENVIEW, ILLINOIS
Notes to Financial Statements
December 31, 1994
NOTE 10 - INTERFUND ASSETSFLIABILITIES (Continued)
Due From/To Other Funds (Continued)
Receivable Fund Payable Fund Amount
Corporate Purpose Bond Series
of 1990 General $ 150,000
Illinois Municipal Retirement 487,244
Waterworks 487,244
Corporate Purpose Bond Series
of 1993 Capital Projects 25,462
Waterworks Capital Equipment Replacement 13,674
Wholesale Water 40,197
Wholesale Water Corporate Purpose Bond Series of 1989 237,451
Capital Projects 429,217
Escrow 911 Communications 40,000
Illinois Municipal Retirement 150,000
Special Service Area Corporate Purpose Bond Series of 1990 957
$ 3.592.732
Advances From/To Other Funds
Receivable Fund Payable Fund Amo~t
Waterworks Capital Projects $ 351,248
Capital Equipment Replacement Fund 386,996
Sewerage Capital Equipment Replacement 119.972
$ 858.216
(Continued)
VILLAGE OF GLENVIEW, ILLINOIS
Notes to Financial Statements
December 31, 1994
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. Financial segment information
as of the date of this report and for the fiscal year is as follows:
Commuter
Wholesale Parkh'tg
Waterworks Water Sewerage Lot Totals
Operating revenues $ 6,242,297 $ 1,524,133 $ 577,544 $ 96,453 $ 8,440,427
Depreciation and amortization
expense 411,477 62,816 72,389 5,252 551,934
Operating income 1,582,505 544,873 284,332 44,410 2,456,120
Operating transfers in
Operating transfers out (575,200) (1,566) (100,084) (156,1130) (832,950)
Net income (loss) 833,858 368,468 187,936 (107,043) 1,283,219
Current capital contributions
Current capital transfers
Plant property, and equipment
Additions (111,939) (120,000) (231,939)
Deletions
Total assets 17,049,959 3,406,682 3,724,569 251,494 24,432,704
Net work/ng capital 2,674,625 883,137 411,271 159,542 4,128,575
Bonds and other long-term
liabilities
Payable from operating
revenues 3,523,800 2,800,000 6,323,800
Payable from other sources
Total equity 12,781,981 507,789 3,724,569 251,494 17,265,833
(Continued)
VILLAGE OF GLENVIEW, ILLINOIS
Notes to Financial Statements
December 31, 1994
NOTE 12 - CONTRIBUTED CAPITAL
During the current year, contributed capital increased by the following amounts:
Waterworks ~ Totals
Increases
Improvements - Capital Projects $ $ $
Decreases -
Net Increases
Contributed Capital
January 1 2.~3_8..6,!.~ 891.089 3,277.243
December 31 25._~3_8..6.3_~ $ 891.089
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.
(Continued)
VILLAGE OF GLENVIEW, ILLINOIS
Notes to Financial Statements
December 31, 1994
NOTE 14 - JOINT VENTURES
Regional Emergency Dispatch Center
Description of Joint Venture
The Regional Emergency Dispatch Center is a governmental joint venture used to account for
the resources involved in dispatching fire and medical emergency services to a six community
area. This fund is supported by contributions from the seven member departments. As of
December 31, 1994, 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
consists of Board of Directors of from
Management
comprised
a
one
appointed
representative
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 latest available financial statements of the Center, dated December 31, 1994, show the
following:
Goveriln2ent's
Total ~3~e~(..3,73~
Total Assets $ 291,800 $ 93,668
Total Liabilities 19,357 6,214
Total Equity 272,443 87,454
Total Liabilities and Equity 291,800 93,668
Total Revenues 674,812 216.615
Total Expenditures 684,790 219.818
Initial contributions are determined in advance of each membership year based on the
population within each member's district.
(Continued)
33
VILLAGE OF GLENVIEW, ILLINOIS
Notes to Financial Statements
December 31, 1994
NOTE 14 - JOINT VENTURES (Continued)
Solid Waste Agency of Northern Cook County (SWANCC): (Continued)
Summary of Financial Information of Joint Venture (Continued)
The Agency is being accounted for as a development stage enterprise; therefore, all costs
incurred in conjunction with the development of the Project have been capitalized as deferred
costs, and no statement of operations or cash flows will be presented until operations
commence in May 1995.
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 no payments to the Agency for the year ended December 31, 1994.
NOTE 15 - DEFERRED COMPENSATION PLAN
The Government offers its employees a deferred compensation plan created in accordance with
Internal Revenue Code Section 457. The plan, available to all Government employees, permits
them to defer a portion of their salary until future years. Participation in the plan is optional.
The deferred compensation is not available to employees until termination, retirement, death or
unforeseeable emergency. All amounts of compensation deferred under the plan, ail property
and rights purchased with those amounts, and ail income attributable to those amounts,
property, or rights are (until paid or made available to the employee or other beneficiary) solely
the property and rights of the Government subject only to the claims of the Government's
general creditors. Participants' rights under the plan are equal to those of general creditors of
the Government in an amount equal to the fair market value of the deferred account for each
participant.
It is the opinion of the Government's legal counsel that the Government has no liability for
losses under the plan but does have the duty of due care that would be required of an ordinary
prudent investor. The Government believes that it is unlikely that it will use the assets to
satisfy the claims of general creditors in the future.
(Continued)
36
VILLAGE OF GLENVIEW, ILLINOIS
Notes to Financial Statements
December 31, 1994
NOTE 16 - POSTEMPLOYMENT BENEFITS
In addition to providing pension benefits described, the Government provides
postemployment health care and life insurance 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 while working for the Government. The cost of
retiree health care and life insurance benefits is recognized as an expenditure as claims are
paid. For the fiscal year those costs total $138,814. 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-retirement health care benefits.
NOTE 17 - EMPLOYEE RETIREMENT SYSTEMS
Plan Descriptions and Provisions:
Illinois Municipal Retirement
The Government contributes to the Illinois Municipal Retirement Fund ("IMRF"), a defined
benefit agent multiple-employer public employee retirement system that acts as a common
investment and administrative agent for local governments and school districts in Illinois. The
Government's total payroll for the year ended December 31, 1994, was $16,675,558. Of this
amount, $6,563,029 in payroll earnings were reported to and covered by the IMRF 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 li~e, in an amount equal to 1 2/3 percent
of 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 established by Illinois Compiled Statutes.
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 the System, using the actuarial basis specified by state statute
(entry age normal); for 1994 the rate was 10.42 percent.
(Continued)
37
VILLAGE OF GLENVIEW, ILLINOIS
Notes to Financial Statements
December 31, 1994
NOTE 17 - EMPLOYEE RETIREMENT SYSTEMS (Continued)
Plan Descriptions and Provisions: (Continued)
Police Pension
Police sworn personnel are covered by the Police 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, 1994 was
$3,018,989 out of a total payroll of $16,675,578. At December 31, 1994, the Police Pension Plan
membership consisted of:
Ret~-rees and beneficiaries currently receiving benefits
and terminated employees entitled to benefits but not
yet receiving them 25
Current employees
Vested 49
Nonvested 13
Total 87
The following is a summary of the Police Pension Plan as provided for in Illinois Compiled
Statutes.
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
enfitled 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% of such salary for each additional year of service over 20 years
up to 30 years, and 1% of such salary for each additional year of service over 30 years, to a
maximum of 75% 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% of the original pension and 3%
simple interest annually thereafter.
(Continued)
GLENVIEW, ILLINOIS
VILLAGE
OF
Notes to Financial Statements
December 31, 1994
NOTE 17 - EMPLOYEE RETIREMENT SYSTEMS (Continued)
Descriptions and Provisions: (Continued)
Plan
Police Pension (Continued)
Covered employees are required to contribute 9% 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. By the year 2033 the Government's
contributions must accumulate to the point where the past service cost for the Police Pension
Plan is fully funded.
Firefighters' Pension
Fire sworn personnel are covered by the Firefighters' Pension Plan which is a defined benefit
single-employer pension plan. Although this is a single-employer pension plan, the defined
benefits as well as the employee and employer contributions levels are mandated 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 Firefighters' Pension Plan for the year ended
December 31, 1994 was $3,262,812 out of a total payroll of $16,675,578. At December 31, 1994
Firefighters' membership consisted of:
the
Pension
Plan
Retirees and beneficiaries currently receiving benefits
employees entitled to benefits but not
and
terminated
yet receiving them 24
Current employees
Vested 54
Nonvested 25
Total 103
summary Firefighters' Pension Plan as provided for in Illinois
The
following
is
a
of
the
Compiled Statutes.
(Continued)
39
VILLAGE OF GLEN'VIEW, ILLINOIS
Notes to Financial Statements
December 31, 1994
NOTE 17 - EMPLOYEE RETIREMENT SYSTEMS (Continued)
Plan Descriptions and Provisions: (Continued)
Firefighters' Pension (Continued)
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 ~ank held in the fire service at the date of retirement. The monthly pension shall be
increased by one-twelfth of 2% of such monthly salary for each additional month over 20 years
of service through 30 years of service and one-twelfth of 1% of such monthly service for each
additional month over 30 years of service, to a maximum of 75% 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 fi~efighter 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% of the original pension and 3% annually thereafter.
Covered employees are required to contribute 8 1/4% 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
actuarially determined by an enrolled actuary. By the year 2033 the Government's
contributions must accumulate to the point where the past service cost for the Firefighters'
Pension Plan is fully funded.
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 - Fixed-income securities are reported at amortized cost
with discounts or premiums amortized using the effective interest rate method, subject to
adjustment
for
market declines judged to be other than temporary (lower of cost or market).
Investment income is recognized as earned. Gains and losses on sales and exchanges of fixed-
income securities are recognized on the transaction date. Equity securities are reported at cost
subject
to
adjustment
for
market declines judged to be other than temporary (lower of cost or
market).
(Continued)
40
VILLAGE OF GLENVIEW, ILLINOIS
Notes to Financial Statements
December 31, 1994
NOTE 17 -EMPLOYEE RETIREMENT SYSTEMS (Continued)
Summary of Significant Accounting Policies and Plan Asset Matters: (Continued)
Significant Investments - There are no investments (other than U.S. government and U.S.
government-guaranteed obligations) in any one organ/zation that represent 5 percent or more
of net assets available for benefits.
Funding Status and Progress:
The amount shown below as the "pension benefit obligation" for the IMRF Plan is a
standardized disclosure measure of the present value of pension benefits, adjusted for the
effects ' ·
of projected salary increases and step-rate benefits, estimated to be payable in the future
as a result of employee service to date. The measure is intended to help users assess the
funding status of the system on a going-concern basis, assess progress made in accumulating
sufficient assets to pay benefits when due, and make comparisons among employers. The
measure is the actuarial present value of credited projected benefits and is independent of the
funding method used to determine contributions to the System.
The amount shown below as the "pension beneht obligation for the Police Pension Plan and
the Firefighters' Pension Plan is a substitute disclosure measure (entry age normal), the
actuarial accrued liability of the present value of pension benefits, adjusted for the effects of
projected salary increases and step-rate benefits, estimated to be payable in the future as a
result of employee service to date. This substitute disclosure measure is intended to help users
assess the funding status of the system on a going-concern basis, assess progress made in
accumulating sufficient assets to pay benefits when due, and make comparisons among other
employers using the substitute disclosure method. The substitute disclosure measure is
independent of the funding method used to determine contributions to the System.
Illinois Municipal Police Fire fighters'
Retirement ~ Pensiorl
Actuarial valuation date December 31, 1994 January 1, 1994 January 1, 1994
Significant actuarial assumptions
a) Rate of return on investment 7.50% compounded 8.00% compounded 8.00% compounded
of present and future assets
annually annually annually
b) Proi~cted salary 4.25% compounded 15.5% compounded 5.5% compounded
increases- attributable to inflation annually ] annually annually
]
c) Additiona projected ]
salary increases - .6% to 6.8% ] (Note - separate information
attributable to depending on age and ] for b) and c) not available)
seniority/merit service attributable to ]
seniority and merit ]
d) Post-retirement benefit increases 3.00% compounded 3.009'0 compounded 3.00% compounded
annually annually annually
(Continued)
VILLAGE OF GLENVIEW, ILLINOIS
Notes to Financial Statements
December 31, 1994
NOTE 17 - EMPLOYEE RETIREMENT SYSTEMS (Continued)
Funding Status and Progress: (Continued)
Illinois Fire- Totals
Municipal Police fighters' (Memorandum
Retir~caent ~ension Pension Ortly~
Pension benefit obligation
Retirees and beneficiaries
currently receiving
benefits and terminated (Note A) (Note B) (Note B)
employees not yet
receiving benefits $ 712,754 $ 5,722,374 $ 5,225,709 $ 11,660,837
Current employees
Accumulated employee
contributions including
allocated investment 8,113,089
earnings 3,081,538 2,226,598 2,804,953
Employer - financed vested 5,575,257 4,717,166 7,944,719 18,237,142
Employer - financed 4,069~603
nonvested 66~3.390 1.317.571 ~,088.642
Total pension benefit
obligation 10,032,939 13,983,709 18,064,023 42,080,671
Net assc~s available for benefits 8~009.395 ] 3.625.250 25,545.834 47,] 80.479
(Market values)
/IMPa: $ 8,444,851)
(Police 13,622,525)
(Firefightars' 25.542.513)
(Totals $ 47.609.889)
Unfunded (assets in excess of)
pension benefit obligation ~ 2.023.544 ~ ~58.459 t; (7.481.811) $ (5.099.808~
(Note A) The pension benefit obligation applicable to retirees and beneficiaries currently
receiving benefits is not included in the above schedule due to the fact that this
obligation was transferred from the Government to IMRF as a whole when the
annuity became payable.
(Note B) The "pension benefit obligation" applicable to the Plan is the actuarial accrued
liability, a substitute disclosure measure.
(Continued)
VILLAGE OF GLENVIEW, ILLINOIS
Notes to Financial Statements
December 31, 1994
NOTE 17 - EMPLOYEE RETIREMENT SYSTEMS (Continued)
Funding Status and Progress: (Continued)
Effects on the Pension Benefit Obligation of Current-Year Changes
Illinois Municipal Retirement: There were no current-year changes in the actuarial
assumptions, benefit provisions and methodology in the pension benefit obligation shown
above from the previous year.
Police Pension: There were no current year changes in actual assumptions.
Firefighter's Pension: There were no current year changes in actual assumptions.
Contributions Required and Contributions Made
Illinois Municipal Retirement, Police Pension, and Firefighters' Pension
The Systems' funding policy provides for actuarially determined periodic contributions at rates
that, for individu~ employees, accumulate assets gradually over time so that srffficient assets
will be available to pay benefits when due. The rate for the Government's employee group as a
whole has tended to remain level as a percentage of annual covered payroll. The contributions
rate for normal cost is determined using the entry age normal actuarial funding method. The
IMRF System used for level percentage of payroli method, while the Police Pension and
Firefighters' Pension Systems used a level dollar amount method to amortize the unfunded
liability over a 40 year period.
The significant actuarial assumptions used to compute the actuarially determined contribution
requirements are the same as those used to compute the pension benefit obligation as
described above.
Illinois Totals
Municipal Police Firefighters' (Memorandum
Retiremeqt Pensiol~ Pensiotl Only)
Actuarial valuation date December 31, January 1, January 1,
1994 1994 1994
Actuarially determined contribution
requirement
As a dollar amount
Employer
Normal cost $ 481,070 $ 274,981 $ 413,671 $1,169,722
Amortization of unfunded
actuarial accrued liability 137,824 74,371 (250,961) (38,766)
Death and disability cost 24,283 24,283
Supplemental retirement benefit 40.691 40.691
683,868 349,352 162,710 1,195,930
Employee - normal cost
(Continued)
VILLAGE OF GLENVIEW, ILLINOIS
Notes to Financial Statements
December 31, 1994
NOTE 17 - EMPLOYEE RETIREMENT SYSTEMS (Continued)
Contributions Required and Contributions Made (Continued)
Illinois Fh'e- Totals
Municipal Police fighters' (Memorandum
Retirement Pension Pension Only)
Actuarial determined contribution
requirements (Continued)
As a % of current covered payroll
Employer
Normal cost 7.33% 9.11% 12.67% 9.11%
Amortization of unfunded
actuarial accrued liability 2.10 2.46 (7.69) (.30)
Death and disability cost .37 - .19
Supplemental reth'ement
benefit .62 .32
10.42 11.57 4.98 9.32
Employee - normal cost 4.50 9.00 8.25 6.51
14.9~2% 20.57% 13.23% 15.83%
Contribution made
As a dollar amount
Employer $ 683,868 $ 383,600 $ 244,063 $ 1,311,531
Employee .~?,9_5_,~J.6- ~ ~ $36.227
~ $ 655.309
As a % of current covered payroll
Employer 10.42% 12.71% 7.48% 10.21%
Employee 4.50 9.00 8.25 6.51
14.92% 21.71% 15.73% 16.72%
Effects on the Contribution Requirements of Current-Year Changes
Illinois Municipal Retirement, Police Pension, Firefighters' Pension
There were no current year changes in actuarial assumptions used to determine contributor
requirements.
(Continued)
VILLAGE OF GLENVIEW, ILLINOIS
Notes to Financial Statements
December 31, 1994
NOTE 17 - EMPLOYEE RETIREMENT SYSTEMS (Continued)
Trend Information: Trend information gives an indication of the progress made in
accumulating sufficient assets to pay benefits when due. Ten-year trend information may be
found in the supplemental section o the Government s annual financial report.
Totals
For Illinois Memor-
Fiscal Municipal Police Firefighters' andum
Year Retirement Pension Pension
Net assets available for benefits
as a % of the pension benefit 1992 75.54% 108.32% 137.81% 106.60%
obligation (PBO 1993 78.45 98.62 131.64 107.63
1994 79.83 97.44 141.47 112.12
Unfunded (assets in excess of) PBO
as a % of annual covered payroll
(expressing the unfunded pension
benefit obligation as a percentage
.of annual covered payroll approx-
imately adjusts for the effects of 1992 34.94 (32.99) (116.46) (16.03)
inflation for analysis purposes) 1993 32.02 6.11 (134.67) (22.59)
1994 30.83 11.87 (229.31) (39.70)
Employer contributions
As a % of annual covered payroll 1992 11.71 .99 2.55 6.99
1993 14.92 8.56 2.94 7.81
1994 10.42 12.71 7.48 10.21
Required 1992 $ 678,612 $ 216,530 $ $ 895,142
1993 640,070 333,146 283,949 1,257,165
1994 683,868 349,352 162,710 1,195,930
Made 1992 678,613 26,938 63,262 768,813
1993 640,070 247,148 109,670 996,888
1994 683,868 383,600 244,063 1,311,531
NOTE 18 - SUBSEQUENT EVENTS
On January 19, 1995, the Village of Glenview authorized the issuance of $60,000,000 General
Obligation Bond Anticipation Bonds in order to finance capital improvements on the site of the
Glenview Naval Air Station.
I
I
I
I
I
I
I
GENERAL FUND
I 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 GLENVIEW, ILLINOIS
General Fund
Balance Sheet
December 31, 1994 and 1993
1994 1993
ASSETS
Cash and investments $ 4,948,807 $ 5,470,725
Receivables
Taxes
Property taxes 3,744,904 3,838,669
Sales tax 754,002 771,866
Income tax 270,260 169,44~
Utility taxes 289,790 229,495
Accounts 526,403 4,467
Other 169,898 69,489
Due f-rom other funds 1,555,178 1,681,131
Prepaid items 10,756 5,356
Investment in land held for resale
Total assets
LIABILITIES AND FUND BALANCE
Liabilities
Accounts payable $ 63,490 $ 87,908
Compensated absences payable 440,101 475,581
Accrued payroll 27,257 42,129
Due to other funds 449,066 275,412
Deferred revenues
Total liabilities 4.715. ~e.~l O 4.710.313
Fund balance
Reserved for prepaid items 10,756 5,356
Reserved for land held for resale 725,000 725,000
Unreserved
Designated for surcharge receipts 2;22~;048 2,662,708
Undesignated
Total fund balance
Total liabilities and fund balance
See accompanying notes to financial statements.
46
VILLAGE OF GLENVIEW, ILLINOIS
General Fund
Statement of Revenues, Expenditures,
and Changes in Fund Balance - Budget and Actual
Year Ended December 31, 1994 and Actual Only for 1993
1994 1993
~ Actual Actual
Revenues
Taxes $13,906,498 $14,081,262 $14,222,515
Licenses and permits 947,600 1,054,726 1,042,608
Intergoverrunental 1,847,455 1,965,102 1,223,942
Charges for services 776,754 718,494 798,448
Fines and forfeits 345,000 226,415 256,408
Interest 169,000 105,601 155,002
Miscellaneous 50,000 ~ 41.531
Total revenues ~IlL0t2,3DZ ~1152R42324 17.740.454
Expenditures
General government 3,481,760 3,725,026 3,088,463
Public safety 10,200,737 9,641,425 9,323,267
Highways and streets 3.465.197 .~3248,92Z
Total expenditures 17.147.694 16.715.378 15.708.362
revenues over expenditures 894.613 1,578.946
Excess
of
Other financing sources (uses)
Operating
transfers in
Escrow Deposit Fund 110,000 142,414 124,735
Operating transfers (out)
Capital Equipment
Replacement Fund (664,952) (678,927) (710,198)
Capital Projects Fund (318,000) (878,000) (551,890)
Police Pension Fund (29,835) (29,835) (28,582)
Firefighters' Pension Fund (39,669) (39,669) (38,039)
Glenview Naval Air Station Fund (70~800) (70.800)
~) (1,554.817)
Excess (deficiency) of revenues and
other financing sources over
expenditures and other financing uses $ (118.643) 24,129 828,118
Fund balance
January 1 ~
December 31 ~ ~
See accompanying notes to financial statements.
47
VILLAGE OF GLENVIEW, ILLINOIS
General Fund
Schedule of Revenues - Budget and Actual
Year Ended December 31, 1994 and Actual Only for 1993
1994 1993
~ Actual Actual
Taxes
Property taxes - current $ 3,666,268 $ 3,691,228 $ 3,569,223
Property taxes - prior 57,150 60,896
Replacement taxes 57,900 69,273 55,022
Sales tax 4,250,000 4,438,932 4,188,116
Utility tax 2,707,000 2,512,867 2,876,149
Illinois income tax 2,291,330 2,157,707 1,966,124
Road and bridge 70,000 138,461 126,796
taxes 264,000 263,597 250,806
Franchise
Road and bridge - prior 1,701 1,377
Hotel room tax 600,000 589,206 531,405
Income tax 161.140
surcharge
596.601
13.906.498 ~ 14.222.515
Licenses and permits
Motor vehicle 448,000 434,946 437,943
Business 87,000 79,059 40,176
Liquor 56,000 70,950 75,500
Pet 5,700 5,315 5,430
Buildings 231,200 343,655 354,024
Electrical inspection 35,000 33,825 34,904
Plumbing and sewer 35,000 31,082 31,700
Plan review and elevator inspection 44,700 49,107 54,802
Driveway permits 5.000 6.788 8.129
947.600 ~ ~
Intergovernmental
Glenbrook Fire Protection District 1,700,000 1,781,710 1,119,035
Federal and state grants 122,936 158,873 104,907
Other __.~?.1~52~ __~
1.847.455 ~ ~
Charges for services
Administration 594,629 594,629 623,503
Engineering fees 100,000 31,979 72,073
Contractor's fees 35,000 45,730 47,476
Unclassified public works service 20,000 14,399 33,865
Other current service charges __27_225_ 31.757 21.531
776.754 718.494 798.44~
(Continued)
48
VILLAGE OF GLENVIEW, ILLINOIS
General Fund
Schedule of Revenues - Budget and Actual
Year Ended December 31, 1994 and Actual Only for 1993
1994 1993
~ Actual Actual
Fines and forfeits $ 345.000 ~
Interest 169.000 105.601
Miscellaneous
Sale of village property 16,279
Bank charges 2,352
P.C. expansion and training 20,000
Other 50.000 ~ __2.5,252
50.000 __~ 41.531
Total revenues ~ ~
49
GLENVIEW, ILLINOIS
VILLAGE
OF
General Fund
Schedule of Expenditures - Budget and Actual
Year Ended December 31, 1994
Actual
General govemment
Board of Trustees $ 25,740 $ 16,998
Special board 143,155 147,923
Legal and insurance 230,200 337,737
Emergency Service Disaster Agency 6,900 2,375
Village manager 414,067 398,713
Finance 626,517 617,889
Municipal building and grounds 258,350 248,136
Personnel 1.776.831
3.481.760
Public safety
Police department 4,760,986 4,439,255
Fire department 5,373,551 5,140,592
Printing ~ 61.578
Highways and streets
Development and public services
Administration 189,363 194,110
Planning and zorting 116,519 79,117
Engineering 426,206 401,071
Public health 165 360 183,364
Public works - administration 213 226 205,622
Public works - overhead 628 145 639,997
Public works - street improvements 272 779 342,823
Public works - traffic 272 256 180,757
Public works - storm water management 132 499 87,992
Public works - snow and ice control 225 253 319,325
forestry 255 655 141,732
Public
works
Public works - grounds 104 214 92,374
Building inspection ~ 722 480.643
3.465.197
Total expenditures $ 17.147.694 $ 16.715.378
50
VILLAGE OF GLENVIEW, ILLINOIS
General Fund
Schedule of Expenditures - Budget and Actual
Year Ended December 31, 1994
~ Actual
General government
Board of Trustees
Regular salaries $ 3,000 $ 3,000
Training 1,000
Sign supplies 500
Trustee expense 17,940 9,578
Operational material and supplies 3,300 4.420
__~ 16.998
Special board
Contractual services 142,155 147,722
GNAS related expenses 96
Materials and supphes 1.000 105
143.155
Legal and insurance
Contractual and professional services 65,000 73,721
Books 3,900 1,754
Dues, subscriptions, and memberships 450 474
Village Attorney retainer 41,100 45,329
Prosecutor retainer 29,750 28,371
Outside litigation 90,000 183,963
Office supplies __t,125
230.2O0 337.737
Emergency Service Disaster Agency
Telephone and telegraph 1,000 685
Maintenance of equipment 1,500 83
Office supplies 200
Books, pamphlets, and materials 200
Materials and supplies 1,000 1,024
Contingencies 1,000
Machinery and equipment 1,500
Small tools 500 583
6,900 2.375
(Continued)
51
VILLAGE OF GLENVIEW, ILLINOIS
General Fund
Schedule of Expenditures - Budget and Actual
Year Ended December 31, 1994
~_t Actual
General government (Continued)
Village Manager
Regular salaries $ 298,699 $ 318,748
Temporary salaries 20,000 7,175
Longevity pay 1,350 1,350
Contractual professional services 1,500
Printing, binding, and publication 11,700 1,682
Postage 36,000 31,769
Dues, subscriptions, and memberships 21,071 18,699
Maintenance of equipment 725 1,320
expense 4,110 4,999
Travel
Training expense 1,450 155
Books, pamphlets, and materials 300 55
Operational material and supplies 800 135
Computer supplies 3,600 3,838
Equipment repairs 5,442 2,170
Equipment replacement 6,000 6,000
Machinery or equipment 6,450 6,618
Furniture and fixtures 870
420,067 404,713
Less transfer to Capital Equipment
Replacement Fund 6.000 6.000
414.067 398.713
Finance
Regular salaries 416,034 414,443
Overtime salaries 1,500 1,547
Temporary salaries 25,150 27,361
Longevity pay 4,925 4,284
Contractual professional services 46,415 40,844
Printing, binding, and publication 12,000
13,287
Postage 7,000 5,448
Dues, subscriptions, and memberships 1,543 1,718
Telephone telegraph 25
and
Car allowance 300 71
Maintenance of equipment 14,075 13,925
Rentals 31,600 30,160
(Continued)
52
VILLAGE OF GLENVIEW, ILLINOIS
General Fund
Schedule of Expenditures - Budget and Actual
Year Ended December 31, 1994
Budget Actual
General government (Continued)
Finance (Continued)
Travel expense $ 4,750 $ 4,121
Training expense 5,400 2,076
Office supplies 25,500 28,450
Reimbursable expense 632
Books, pamphlets, and materials 300 271
Computer supplies 8,200 7,935
Other operating expense 1,000 574
Bank charges 800 673
P.C. expansion __202)0~ __20.069
~. 617.889
Municipal building and grounds
Temporary salaries 1,500
Power and light 150
Heating 18,000 14,962
Postage 26,000 20,424
Telephone 30,000 45,786
Maintenance of equipment 19,100 26,465
Maintenance of buildings 35,700 34,872
Rentals 10,000 9,902
Cleaning and household supplies 3,500 1,239
Maintenance materials - buildings 7,400 5,310
Small tools and equipment 200
Employee welfare 4,600 2,936
Buildings and improvements 102,200 86,139
Machinery or equipment 101
Personnel
Contractual professional services 16,500 7,995
Public safety selection and promotion 17,700 15,020
Wellness program 11,500 2,375
Printing, binding, and publications 1,800 1,970
Dues, subscriptions, and memberships 510 530
(Continued)
53
VILLAGE OF ILLINOIS
GLEN'VIEW,
General Fund
Schedule of Expenditures - Budget and Actual
Year Ended December 31, 1994
Budget Actual
General government (Continued)
Personnel (Continued)
Safety program $ 3,500 $ 1,275
Travel 400 41
Training expense 34,500 15,508
Books, pamphlets and materials 1,500
Employee welfare 9,050 3,170
Insurance 1.679.871 1,907.371
1.776.831
Total general 3.481.760
government
Public safety
Police department
Regular salaries 3,634,104 3,516,259
Overtime salaries 67,600 60,121
Overtime hire back 54,100 73,020
Overtime court time 73,600 68,775
Overtime training 4,200 1,892
Overtime extra detail 787
Temporary salaries 140,000 119,619
Holiday pay 123,400 91,768
Longevity pay 40,250 39,800
Contractual professional services 81,415 85,991
Printing, binding, and publication 9,000 4,556
Heating 7,000 3,191
Postage 5,000 3,370
Telephone 24,000 18,036
Dues and subscriptions 3,372 3,249
Maintenance of equipment 56,900 42,736
Maintenance of buildings 2,900 2,280
Rentals 14,490 16,150
Travel expenses 5,980 5,018
Car allowance
300
Office supplies 4,250 3,441
Books, pamphlets, and materials 9,500 4,449
(Continued)
54
VILLAGE OF GLENVIEW, ILLINOIS
General Fund
Schedule of Expenditures - Budget and Actual
Year Ended December 31, 1994
Budget Actual
Public safety (Continued)
Police department (Continued)
Training $ 50,549 $ 43,213
Uniform allowance 48,850 49,826
Cleaning and household supplies 3,500 3,493
Maintenance materials - buildings 5,700 3,707
Operating materials and supplies 23,750 17,050
Computer supplies 1,452
P.C. expansion/training 8,000 3,938
Employee welfare 7,800 5,772
Equipment repairs 187,001 95,372
Machinery and equipment 42,525 32,603
Furniture and fixtures 4,950 4,605
Vehicles 17,000 13,716
Equipment replacement ~
5,000,146 4,683,090
Less transfer to Capital Equipment
Replacement Fund ~
4.760.986
Fire department
Regular salaries 4,114,165 4,010,314
Overtime salaries 8,036
Overtime administrative 1,000 17,596
Overtime acting company officer 12,000 14,961
Overtime call back 15,600 20,192
Overtime hire back 166,000 97,368
Overtime apparatus repair 2,000 3,272
Overtime fire prevention 1,500 299
Overtime public education 15,600 14,957
Overtime emergency medical service 27,100 21,034
Overtime hazardous material 5,000 12,944
Overtime FLSA 46,800 33,711
Overtime special rescue 5,000 5,064
Overtime dive team 11,440 9,194
Overtime training 31,200 16,048
(Continued)
55
VILLAGE OF ILLINOIS
GLENVIEW,
General Fund
Schedule of Expenditures - Budget and Actual
Year Ended December 31, 1994
Budget Actual
Public safety (Continued)
Fire department (Continued)
Temporary salaries $ 9,000 $
Holiday pay 135,654 138,842
Longevity pay 52,075 50,050
Contractual professional services 255,659 234,919
Outside litigation 52,169
Fire selection and promotion 9,200 11,707
Printing, binding, and publication 1,500 953
Heating 7,500 6,462
Postage 1,200 1,023
Telephone 16,010 14,227
Dues, subscriptions, and memberships 2,245 2,035
Maintenance of 26,125 26,815
equipment
Maintenance of buildings 24,200 22,112
RentaLs 6,850 1,478
Travel expenses 5,400 3,714
Training 18,850 13,973
G.F.P.D. legal costs 472
Uniform and turnouts 49,000 48,691
Office supplies 1,500 1,423
Texts and films 2,300 1,775
Motor vehicle supplies 6,000 6,796
Cleaning supplies 10,500 9,785
Maintenance materiaLs - equipment 8,000 7,821
Maintenance materiaLs - buildings 8,900 6,293
Small tooLs and equipment 33,145 25,818
Operating materiaLs and supplies 17,900 14,018
Computer supplies 1,500 1,560
Employee welfare 4,000 4,031
Equipment replacement 196,266 225,566
Equipment repairs 122,909 98,313
Buildings / improvements to buildings 21,550 9,800
Machinery and equipment 57,724 38,127
Furniture and fixtures 2.750 400
5,569,817 5,366,158
(Continued)
56
VILLAGE OF GLENVIEW, ILLINOIS
General Fund
Schedule of Expenditures - Budget and Actual
Year Ended December 31, 1994
Budget Actual
Public safety (Continued)
Fire department (Continued)
Less transfer to Capital Equipment
Replacement Fund
5.373~551 5.140.592
Prinfmg
Temporary salaries 5,000 3,492
Maintenance of equipment 800
Rentals 45,000 37,351
Maintenance materials - equipment 300 50
Operating supplies 14,000 20,685
Small tools and equipment 100
Buildings
/ improvements to buildings 1.000
__66,20~ 61.578
Total public safety ~10~?.09d7~Z ~
Highways and streets
Development and public service
Administration
Regular salaries 183,237 188,337
Longevity pay 450 450
Contractual professional services 9
Maintenance of copiers 400 191
Computer supplies 150
Dues, subscriptions, and memberships 510 567
Maintenance of equipment 320 394
Travel expense 1,500 1,935
Training 500 818
Office supplies 150 96
Books, pamphlets, and materials 200 80
Machinery and equipment 550 538
Equipment replacement 2,600 2,600
Equipment repairs 1.396 695
191,963 196,710
(Continued)
57
VILLAGE OF GLENVIEW, ILLINOIS
General Fund
Schedule of Expenditures - Budget and Actual
Year Ended December 31, 1994
Budget Actual
Highways and streets (Continued)
Development and public service (Continued)
Administration (Continued)
Less transfer to Capital Equipment
Replacement Fund ~__2,fi00 t~__2,60~
189.363 194.110
Planning and zoning
Regular salaries 53,664 52,963
Contractual and professional services 40,000 9,327
Books, pamphlets, and materials 200 1 64
Printing, binding, and publication 13,000 9,037
Dues, subscriptions, and memberships 4,155 4,873
expense 2,000 1,887
Travel
Training 2,100 796
Operational supplies 400
P.C. expansion 1,000
Equipment repairs 70
116.519 79,117
Engineering
Regular salaries 380,772 363,445
Overtime salaries 2,300 3,335
Temporary salaries 9,000 8,190
Longevity pay 2,650 2,650
Contractual and professional services 6,625 575
Printing, binding, and publication 350 147
Dues, subscriptions, and memberships 1,050 1,079
Maintenance of equipment 1,740 1,146
Travel expense 2,150 2,456
Rentals 200 190
Training 3,100 2,390
Uniform allowance 1,175 415
Books, pamphlets, and materials 175
80
Operational materials 2,000 1,792
Computer supplies 1,000 975
(Continued)
58
VILLAGE OF GLENVIEW, ILLINOIS
General Fund
Schedule of Expenditures - Budget and Actual
Year Ended December 31, 1994
Budget Actual
Highways and streets (Continued)
Development and public service (Continued)
Engineering (Continued)
Equipment replacement $ 9,600 $ 9,600
Equipment repairs 7,519 7,806
Machinery and equipment 4.400 4.400
435,806 410,671
Less transfer to Capital Equipment
Replacement Fund 9.600 9.600
~ 401.071
Public health
salaries 146,172 157,807
Regular
Overtime salaries 1,000 548
Temporary salaries 10,973
Longevity pay 1,450 1,450
Rentals 80 61
Contractual professional services 600 666
Printing, binding, and publication 200 48
Dues, subscriptions, and memberships 1,084 689
Maintenance of equipment 535 266
Travel expense 2,480 1,256
Training expense 2,050 535
Books, pamphlets, and materials 550 450
Small tools and equipment 650 449
Operating materials and supplies 2,650 2,702
Equipment replacement 5,000 5,000
Computer supplies 600 586
Other operational expense 225 187
Machinery and equipment 2,100 1,920
Equipment repairs __2,92~4 2.771
170,360 188,364
Less transfer to Capital Equipment
Replacement Fund 5.000 5.000
165,360 183.364
(Continued)
59
VILLAGE OF GLENVIEW, ILLINOIS
General Fund
Schedule of Expenditures - Budget and Actual
Year Ended December 31, 1994
~ Actual
Highways and streets (Continued)
Development and public service (Continued)
Public works - admir~stration
Regular salaries $ 175,701 $ 179,564
Overtime salaries 500
Temporary salaries 20,770 18,579
Longevity pay 1,250 1,250
Printing, binding, and publication 200 100
Dues, subscriptions, and memberships 465 529
Maintenance of equipment 1,450 143
2,500 1,544
Rentals
Travel expense 2,000 1,275
Training 3,500 525
supplies 2,000 249
Office
Books, pamphlets, and materials 90
Operational materials and supplies 1,800 664
Computer supplies 1.000 ___1~?.0~
Public works - overhead
Regular salaries 312,522 353,368
Overtime salaries 969 3,254
Temporary salaries 33,700 46,601
Longevity pay 10,650 10,104
Contractual professional services 5,000 3,269
Heating 12,000 8,778
Telephone 10,000 6,854
Dues, subscriptions, and memberships 55 68
Maintenance of equipment 6,000 1,395
Maintenance of building improvements 9,650 7,776
Rentals 16,100 2,944
Travel expense 250 304
Training 2,500 1,068
10,000 9,907
Uniform
allowance
Books, pamphlets, and materials 250
Cleaning supplies 4,000 789
(Continued)
60
VILLAGE OF GLENVIEW, ILLINOIS
General Fund
Schedule of Expenditures - Budget and Actual
Year Ended December 31, 1994
Budget Actual
Highways and streets (Continued)
Development and public service (Continued)
Public works - overhead (Continued)
Maintenance materials - buildings $ 5,000 $ 4,161
Small tools and equipment 1,300 1,770
Operational materials and supplies 1,000 222
Employee welfare 2,500 1,742
Equipment replacement 175,526 175,526
Equipment repairs 183,199 175,333
Machinery and equipment 1.500 290
803,671 815,523
Less transfer to Capital Equipment
Replacement Fund ]75.526
~ 639.997
Public works - street improvements
Regular salaries 179,957 ~;035
Overtime salaries 8,695 25,851
Temporary salaries 17,327 10,628
Maintenance materials - buildings 15,000 25,937
Small tools and equipment 1,800 1,695
Operating materials and supplies 10,000 16,677
Maintenance of buildings 40.000 40.000
Public works - traffic
Regular salaries 95,770 54,775
Overtime salaries 6,986 5,153
Power and light 90,000 53,183
Maintenance of equipment 40,500 40,518
Maintenance of buildings 8,500 7,463
Rentals 400
Sign supplies 25,100 17,589
Small tools and equipment 500 199
Machinery and equipment 2,500
Operating materials and supplies __2,000 1.877
180.757
(Continued)
61
VILLAGE OF ILLINOIS
GLENVIEW,
General Fund
Schedule of Expenditures - Budget and Actual
Year Ended December 31, 1994
Budget Actual
Highways and streets (Continued)
Development and public service (Continued)
Public works - storm water management
Regular salaries $ 93,105 $ 62,607
Overtime salaries 3,213 3,818
Temporary salaries 7,731 3,034
Maintenance of buildings 4,000 2,000
Maintenance materials - equipment 2,000 1,290
Small tools and equipment 500 497
Machinery & equipment 1,950 1,559
Operating materials and supplies __~.0J)IXl 13.187
~ 87,992
Public works - snow and ice control
Regular salaries 76,506 113,432
Overtime salaries 51,944 76,636
Temporary salaries 1,778 2,321
Contractual professional services 525 525
Maintenance materials - equipment 13,500 24,486
Operating materials and supplies 81,000 101,925
Equipment replacement
245,253 319,325
Less transfer to Capital Equipment
Replacement Fund
Public works - forestry
Regular salaries 199,413 122,042
Overtime salaries 10,054 6,241
Temporary salaries 11,588 4,784
Contractual professional services 1,500 282
Dues, subscriptions, and memberships 350 215
Maintenance of equipment 1,000 777
Maintenance of building / improvements 3,000
Maintenance materials and equipment 500 322
Small tools and equipment 2,200 1,933
Machinery and equipment 950 932
Training 2,100
Operating supplies 3.000 4.204
materials
and
(Continued)
62
VILLAGE OF GLEN'VIEW, ILLINOIS
General Fund
Schedule of Expenditures - Budget and Actual
Year Ended December 31, 1994
Budget Actual
Highways and streets (Continued)
Development and public service (Continued)
Public works - grounds
Regular salaries $ 63,790 $ 58,998
Overtime salaries 688 1,827
Temporary salaries 3,436 3,426
Contractual professional services 25,000 12,828
Maintenance of building / improvements 6,000 7,295
Maintenance materials - equipment 500 397
Small tools and equipment 800 1,296
Operating materials and supplies 4.000 6.307
Building inspection
Regular salaries 426,732 436,984
Overtime salaries 6,000 5,547
Temporary salaries 1,641
Longevity pay 2,700 2,700
Contractual professional services 22,500 14,640
Printing, binding, and publication 1,500 112
Dues, subscriptions, and memberships 1,050 1,360
Maintenance of equipment 2,300 1,635
Travel 4,000 2,750
Training 4,000 2,211
Uniform allowance 1,100 977
Books, pamphlets, and materials 1,500 2,274
Operating materials and supplies 2,500 2,858
Equipment replacement 10,800 10,800
Equipment repairs 7.840 4.954
494.522 491.443
Less transfer to Capital Equipment
Replacement Fund 10,800 10.800
~_483,Z22 480.643
Total highways and streets $ 3.465.197
63
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 employer 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.
Cable TV Fund - The Cable Television Fund is used to account for the financial activity of
the public access cable system. Any governmental body or not-for-profit community
organization will be permitted to broadcast public information or educational programming.
The cable television management and staff is under the direct control of the Village of
Glenview Board of Trustees.
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 o 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.
Glenview Naval Air Station Fund - The Glenview Naval Air Station Fund is used to account
for the resources and expenditures incurred in the search for future use of the Naval Air Base
land which will be vacated by the Navy.
VILLAGE OF GLENVIEW, ILLINOIS
Motor Fuel Tax Fund
Statement of Revenues, Expenditures,
and Changes in Fund Balance - Budget and Actual
Year Ended December 31, 1994
Actual
Revenues
Intergovernmental
Allotments $ 790,000 $ 813,415
Interest 16,500 20,682
Miscellaneous 70.441
Total revenues 806,500 904,538
Expenditures
Excess of revenues over expenditures 806,500 904,538
Other financing (uses)
Operating transfers (out)
Capital Projects Fund
Excess (deficiency) of revenues over expenditures
and other financing uses
Fund balance January 1
December 31
See accompanying notes to financial statements.
67
VILLAGE OF GLENVIEW, ILLINOIS
Cable TV Fund
Statement of Revenues, Expenditures,
and Changes in Fund Balance - Budget and Actual
Year Ended December 31, 1994
Actual
Revenues
Interest $ 1,200 $ 1,405
Miscellaneous
Cablenet programming agreement 47,000 50,739
Other __3.~.011 __2.274
Total revenues 49,400 54,418
Expenditures
General government __fi0~.22~ 53.601
Excess (deficiency) of revenues over expendittrres (11,528) 817
Other financing (uses)
Operating transfers (out)
Illinois Municipal Retirement Fund (6.597) (6.597)
Excess (deficiency) of revenues over
expenditures and other financing uses ~ (5,780)
Fund balance
January 1 67.552
December 31 ~
See accompanying notes to financial statements.
68
VILLAGE OF GLENVIEW, ILLINOIS
Cable TV Fund
Schedule of Expenditures - Budget and Actual
Year Ended December 31, 1994
Budget Actual
General government
Regular salaries $ 38,316 $ 35,747
Longevity pay 338
Postage 100
Telephone 430
Dues, subscriptions, memberships 500 572
Insurance 6,282 6,282
Maintenance of equipment 3,500 1,147
Equipment repairs 2,600 767
Rentals 100
Travel expense 1,000 691
Training 2,400 1,556
Books, pamphlets, materials 100 6
Operating materials and supplies 4,000 5,625
Computer supplies 1,000 210
Furniture and fixtures 600 660
Total expenditures 560.928 ~; 53.601
69
VILLAGE OF GLENVIEW, ILLINOIS
Refuse and Recycling Fund
Statement of Revenues, Expenditures,
and Changes in Fund Balance - Budget and Actual
Year Ended December 31, 1994
Budget Actual
Revenues
Charges for services $ 862,375 $ 636,629
Interest 2.000 2,6f~
Total revenues 864.375 639.314
Expenditures
General government
Contractual professional services 771,900 449,973
Refuse bag and bin purchase 89.000 73.397
Total expenditures 860.900 __523,3Z0
Excess of revenues over expenditures $ 3.475 115,944
Fund balance
January 1 ~
December 31 $ 30~726
See accompanying notes to financial statements.
70
DEBT SERVICE FUNDS
Library Bond Series of 1984 - This issue in the amount of $3,100,000 was used to construct an
addition to the Library.
Corporate Purpose Bond Series of 1989 - This issue in the amount of $8,000,000 was sold to
finance various capital improvements including storm sewers, land acquisition, pavement
improvements, and water related projects.
Corporate Purpose Bond Series of 1990 - This issue in the amount of $4,500,000 was sold to
finance the Government's share of the Glenview Road reconstruction project. Moody's
Investors Service has rated this general obligation bond issue AAA.
Corporate Purpose Bond Series 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 Series 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 Series 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.
m
m
m
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.
Bond Fund Series 1989 - The Bond Fund Series 1989 is used to account for the proceeds
received from the Corporate Purpose Bond Series of 1989.
Bond Fund Series 1990 - The Bond Fund Series 1990 is used to account for the proceeds
received from the Corporate Purpose Bond Series of 1990.
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.
I
ENTERPRISE FUNDS
Waterworks - 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.
Sewerage Fund - The Sewerage Fund is used to account for the funds necessary to provide
sanitary sewer service to both incorporated and unincorporated Glenview customers.
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.
I
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VILLAGE OF GLENVIEW, ILLINOIS
Enterprise Funds
Combining Balance Sheet
December 31, 1994
(with totals for 1993)
comparative
Wholesale Commuter Totals
Waterworks Water Sewerage Parking Lot 1994 1993
ASSETS
Current assets
Cash and investments $ 1,094,916 $ 163,541 $ 129,320 $158,184 $ 1,545,961 $ 1,784,767
Receivables - accounts (net) 1,477,068 175,772 161,979 1,814,819 1,438,270
Advance to other funds 738,244 119,972 858,216 742,982
Due from other funds 53,871 666,668 720,539 453,088
Inventory 54,704 54,704 54,704
Prepaid expenses 1.358 1.358 1.35~
3.418.803 1.005.981 411.27] 159.542 4.995.597 4.475.169
Fixed assets
Cost 19,614,474 2,512,633 4,567,021 216,592 26,910,720
26,678,781
Accumulated depreciation C5.983.318) ¢111.932) d. L2,5~Z2~ ~1,Z4,640) (7.473.613~ (6.921.679)
13.631.156 2.400.701 ~ 91.952 19.437.107 19.757.102
Total assets $17.049.959 $3.406.682 $3.724.569 $ 251.494 ~ ~
LIABILITIES AND
FUND EQUITY
Current liabilities
Accounts payable $ 225,744 $ 68,122 $ 293,866 $ 285,523
~terest payable 12,04~ 14,525 26,568 14,824
Compensated absences
payable 19,147 19,147 14,170
Other payables 26,368
Due to other funds 487.244 40.197 ~ 800.298
744.178 122.844 867.022 1A41.183
Long-term liabilities
General bonds
obligation
payable 3,523,800 2,800,000 6,323,800 7,133,800
unamortized bond
discount (23.951) (23.951) ~
3.523.800 2.776.050 6.299.850 7.108.474
Total liabilities ~ 2.898.893 7.166.871 8.249.657
Fund equity
Contributed capital 2,386,154 891,089 3,277,243 3,277,243
Retained earnings 10.395.827 507.789 2.833.480 ~ 13.988.590 12.705.371
Total fund equity ~ 507.789 3.724.569 25'1.494 ~,.7_,Z65_2~t 15.982.614
Total liabilities and
fund equity $17.049.959 $3.406.682 $3.724.569 $251.494 ~ ~
See accompanying notes to financial statements.
78
VILLAGE OF GLEN-VIEW, ILLINOIS
Enterprise Funds
Combining Statement of Revenues, Expenses,
and Changes in Retained Earnings
Year Ended December 31, 1994
(with comparative totals for 1993)
Wholesale Commuter Totals
Waterworks Water Sewera? ~ 1994 1993
Operating revenues
Charges for services
Water and sewer
charges $ 6,003,098 $1,286,682 $ 566,137 $ $ 7,855,917 $ 6,781,070
Water meter repair
charges 1,132 1,132 308
Water and sewer
connection charges 6,800 6,800 6,290
Water meters and
remote readers 37,163 37,163 49,514
Parking decals and
meter fees 96,168 96,168 104,830
Miscellaneous ~ 237.451 4.607 285 443.247 184.868
Total operating revenues ~ 1.524.133 577.544 96.453 8.440.427 7.126.880
Operating expenses
Administration 598,730 89,287 30,000 718,017 815,520
Operations 3,649,585 916,444 131,536 16,791 4,714,356 4,153,972
Depreciation and
amortization 411.477 62.816 72.389 5.252 551.934
Total operating expenses 4.659.792 ~ 293.212 52.043 5.984.307 5.507.726
Operating income 1.582.505 544~73 284.332 44.410 ~ 1.619.154
Nonoperating revenues
(expenses)
Interest income 70,581 4,124 3,688 4,647 83,040 73,642
Interest expense and
fiscal charges (244,028) (178,963) (422,991) (446,809)
Proceeds from sale of
assets 15.210
(173.447) (174.839~ 3.688 4.647 (339.951) (357.957)
Income before operating
transfers 1,409,058 370,034 288,020 49,057 2,116,169 1,261,197
Operating transfers (out) ~ (1.566) (100.084) (156.100) (832.950~ (642.737)
Net income (loss) 833,858 368,468 187,936 (107,043) 1,283,219 618,460
Retained earnings
January 1 9.561.969 139.321 ~ 358.537 12.705.371 12.086.911
December 31 $10.395.827 $ 507.789 ~ $ 251.494 $13.988.590 $12.705.371
See accompanying notes to financial statements.
79
VILLAGE OF GLENVIEW, ILLINOIS
Enterprise Funds
Combining Schedule of Changes in Contributed Capital
Year Ended December 31, 1994
(with comparative totals for 1993)
Wholesale Totals
Waterworks Water ~ 1994 1993
Increases
Improvements- capital
projects $ $ $ $ $ 179,084
Decreases
Net increase 179,084
Contributed capital
January 1 ~2.,~2K)2.~A 89t .089 ~32Z7~2d~ 3.098A59
December 31 ~ $ $ 891.089
I VILLAGE OF GLENVIEW, ILLINOIS
Waterworks Fund
I Statement of Revenues, Expenses,
and Changes in Retained Earnings - Budget and Actual
I Year Ended December 31, 1994
I Operating revenues ]~ Actual
Charges for services
I Water charges $ 5,042,625 $ 6,003,098
Water meter repair charges 1,132
Water meters and remote readers 20,000 37,163
Sewer connection charges 55,095
I Miscellaneous
Late payment fees 30,000 64,945
Back flow certification 6,580
I Brass fittings 5,000 2,554
Water for construction 6,000 9,813
Turn on charge 3,000 4,048
Recapture agreements 13,000 24,017
I Other 10.000
Total operating revenues __53.29~2~
Operating expenses excluding depreciation
I Administration 603,164 598,730
Operations
Supply and metering 2,174,927 2,563,898
I Pumping station-east 202,075 149,101
Pumping station-west 211,930 150,098
Distribution system 402,979 509,200
Overhead 388.306
i Total operating expenses excluding depreciation 3.983 381
Operating income before depreciation 1,146,244 1,993,982
I Depreciation 411477
Operating income __1.2~2244
Nonoperating revenues (expenses)
I Interest income 5,000 70,581
Interest expense and fiscal charges
5.000 (173,447)
I Income before operating transfers __1~53.,2~ 1.409.058
Operating transfers in (out)
Illinois Municipal Retirement Fund (110,020) (110,020)
'l Debt Service Fund ~ (465A80)
Net income (loss) $ (410.941~ 833,858
I Retained earnings
January 1 9.561.969
I December 31
I See accompanying notes to financial statements.
82
I
VILLAGE OF GLENVIEW, ILLINOIS
Waterworks Fund
Schedule of Operating Expenses - Budget and Actual
Year Ended December 31, 1994
~ Actual
Administration
Contractual professional services $ 3,000 $ 1,058
Printing, binding, and publication 300 92
Postage 14,000 11,189
Computer supplies 4,000 1,559
Administrative charges - Corporate Fund 437,064 437,064
Insurance 144,800 144,800
Machinery and equipment
Total administration 603.164 598.730
Operations
Supply and metering
Regular salaries 63,916 77,306
Overtime salaries 1,418 2,706
Temporary
salaries 893 232
Contractual professional services 46,000 38,356
Water 2,016,000 2,400,155
Maintenance of buildings 6,000 5,472
Operational materials and supplies 40.700 39.671
Total supply and metering
Pumping station-east
Regular salaries 28,873 30,318
Overtime salaries 10,709 13,173
Temporary salaries 893 60
Contractual professional services 16,850 11,078
Power and light 85,000 68,188
Heating 6,000 4,190
Telephone 8,000 5,367
Maintenance of building 26,500 6,050
Dues, subscriptions, and memberships 995
Cleaning and household supplies 150 32
Maintenance materials - equipment 3,000 2,169
Maintenance materials - building 1,000 473
Operating
materials and supplies 12,700 2,640
Machinery and equipment 47,000 43,702
Rentals
249,075 188,415
(Continued)
83
VILLAGE OF GLENVIEW, ILLINOIS
Waterworks Fund
Schedule of Operating Expenses - Budget and Actual
Year Ended December 31, 1994
~ Actual
Pumping station-east (Continued)
Less nonoperating expenses
Fixed assets capitalized $ 47.000 $ 39.314
Total pumping station-east ~ 149.101
Pumping station-west
Regular salaries 30,348 15,130
Overtime salaries 15,973 8,176
Temporary salaries 2,209 29
Contractual professional services 14,850 8,327
Power and light 105,000 91,024
Heating 1,200 702
Telephone 3,000 2,195
Maintenance of building 27,500 23,538
Cleaning and household supplies 100 24
Maintenance materials - equipment 4,500 359
Maintenance materials - 750
building
Operating materials and supplies 6.500 594
Total pumping station-west ~ 150.098
Distribution system
Regular salaries 214,538 220,152
Overtime salaries 37,701 36,750
Temporary salaries 12,140 9,348
Contractual professional services 18,000 6,108
Maintenance of equipment 600 118
Maintenance of buildings 42,000 75,824
Equipment rentals 300 13
Uniform allowance 363
Sign supplies 1,500 1,550
Maintenance materials - equipment 10,787
Maintenance materials - buildings 69,200 61,037
Operating materials and supplies
7,000
3,150
Distribution system 185.000 ~
587,979 561,682
(Continued)
VILLAGE OF GLEN-VIEW, ILLINOIS
Waterworks Fund
Schedule of Operating Expenses - Budget and Actual
Year Ended December 31, 1994
~ Actual
Distribution system (Continued)
Less nonoperating expenses
Fixed assets capitalized $ 185.000
Total distribution system ~
Overhead
Regular salaries 188,589 150,527
Overtime salaries 1,759 939
Temporary salaries 1,564 848
Longevity pay 6,500 5,900
Postage 300 160
Telephone 1,200 371
Dues, subscriptions, and memberships 2,720 2,305
Maintenance of equipment 1,130 29
Rentals 1,200 223
Travel expense 3,800 2,790
Training 9,600 1,801
Uniform allowance 6,750 5,586
Office supplies 700 43
Books, pamphlets, and materials 300 249
Small tools and equipment 7,350 5,395
Operational materials and supplies 1,000 163
Computer supplies 1,800 167
Equipment replacement 69,579
Equipment repairs 82,465 74,735
Machinery and equipment 9.000
397~306 297,431
Less nonoperating expenses
Fixed assets capitalized 9.000 __20.143
Total overhead 388,306
Total operating expenses $ 3.983.381
85
VILLAGE OF GLEN'VIEW, ILLINOIS 1
Wholesale Water Fund
Statement of Revenues, Expenses,
and Changes in Retained Earnings - Budget and Actual
Year Ended December 31, 1994 I
~ Actual I
Operating revenues I
Charges for services $ 1,250,000 $ 1,286,682
Miscellaneous
Operating expenses excluding depreciation
Operations I
Supply and metering 939,300 895,762
Pumping station 60,950 20,412
Distribution system 10.800 270 I
Total operating expenses 1.011.050 916,444
Operating income before depreciation 238,950 607,689 1
Depreciation __62..~26 I
Operating income ~ 544,873
Nonoperating revenues (expenses) I
Interest income 2,500 4,124
Interest expense (177,886) (177,588) I
Amortization of bond discount (1.375)
(175.386) (174.839)
Income before operating transfers 63,564 370,034 I
Operating transfers (out)
Illinois Municipal Retirement Fund (1,566)
Net income $ 63.564 368,468 I
Retained eamings
January 1 __32L~321 I
December 31 $ 507.789 I
See accompanying notes to financial statements. I
VILLAGE OF GLENVIEW, ILLINOIS
Wholesale Water Fund
Schedule of Operating Expenses - Budget and Actual
Year Ended December 31, 1994
Budget Actual
Operations
Supply and metering
Water purchases $ 852,000 $ 810,062
Maintenance of buildings 1,000
Operating materials and supplies 600
Administrative charges-Corporate Fund 75,000 75,000
Insurance 10.700 10,700
Total supply and metering 939.300
Pumping station
Regular salaries 3,500 2,688
Overtime salaries 500 2,152
Temporary salaries 50 3
Contractual professional services 1,400
Power and light 50,000 12,915
Telephone 3,000 2,652
Maintenance of buildings 1,500
Equipment rentals 500
Operating materials and supplies 500 . 2
Total pumping station 60.950
Distribution system
Regular salaries 3,500
Overtime salaries 1,000
Temporary salaries 300
Contractual professional service 3,000 270
Maintenance of buildings 1,000
Operating materials and supplies 2.000
Total distribution system 10.800 270
Total operating expenses $ 1.011.050 $ 916.444
88
VILLAGE OF GLENVIEW, ILLINOIS
Sewerage Fund
Statement of Revenues, Expenses,
and Changes in Retained Earnings - Budget and Actual
Year Ended December 31, 1994
.~ Actual
Operating revenues
Charges for services
Sewer charges $ 533,870 $ 566,137
Sewer connection charges 6,800
Miscellaneous
Other - 4.607
Total operating revenues 533.870 577.544
Operating expenses excluding depreciation
Administration 105,696 89,287
Operations
Pumping Station 13,995 14,472
Collection 133.794 117.064
operating expenses __220,$23
Total
Operating income before depreciation 280,385 356,721
Depreciation __72.389
Operating income 280,385 284,332
Nonoperating revenue
Interest income __2.000 3.685
Income before operating transfers
Operating transfers (out)
IllLrtois Municipal Retirement Fund (19,556) (19,556)
Debt Service Fund
(lO0,0 4) (100,0s4)
Net income $182301 187,936
Retained earnings
January 1
December 31
See accompanying notes to financial statements.
90
VILLAGE OF GLEN-VIEW, ILLINOIS
Sewerage Fund
Schedule of Operating Expenses - Budget and Actual
Year Ended December 31, 1994
~ Actual
Administration
Contractual professional services $ 3,500 $
Printing, binding, and publications 100 22
Postage 300 28
Office supplies 150 9
Computer supplies 1,000
Administrative charges - Corporate Fund 39,065 41,065
Equipment replacement 16,700
Equipment repairs and fuel 18,591 21,873
Insurance __2.6,29~
Total administration 105.696
Operations
Pumping Station
Regular salaries 7,525 5,597
Overtime salaries 1,045 1,487
Temporary salaries 225 103
Power and light 2,000 1,785
Maintenance of equipment 2,000 5,500
Operational materials and supplies
Total Pumping Station 13.995
Collection system
Regular salaries 97,648 74,573
Overtime salaries 5,329 4,740
Temporary salaries 4,137 3,508
Contractual professional services 2,000 11
Maintenance of buildings 12,000 17,125
Rentals 180 180
Maintenance materials 2,500 2,588
Small tools and equipment 333
Operational materials and supplies 10,000 14,006
System improvements
133,794 237,064
Less nonoperating expenses
Fixed assets capitalized ~
Total collection system 133,794 117.064
Total operating expenses $253,485 $ ~0.823
91
VILLAGE OF GLENVIEW, ILLINOIS
Commuter Parking Lot Fund
Statement of Revenues, Expenses,
and Changes in Retained Earnings - Budget and Actual
Year Ended December 31, 1994
Actual
Ol~erating revenues
Charges for services
Meter fees $ 17,400 $ 18,764
Parking decals 65,000 77,404
Miscellaneous 285
Total operating revenues __82,.400 96.453
Operating expenses
Administration 30,000 30,000
Operations 33,000 16,791
Depreciation __5.252
Total operating expenses 63.000 __52AZ43
Operating income 19,400 44,410
Nonoperating revenues
Interest income 6.000 4,647
Income before operating transfers 25,400 49,057
Operating transfers (out)
Capital Projects Fund (156,100)
Net income (loss) $ 25.~0 (107,043)
Retained earnings
January 1 358.537
December 31 $251.494
See accompanying notes to financial statements.
93
VILLAGE OF GLENVIEW, ILLINOIS
Commuter Parking Lot Fund
Schedule of Operating Expenses - Budget and Actual
Year Ended December 31, 1994
Actual
Administration
Administration - Corporate Fund $ 30.000 $ 30.000
Operations
Contractual professional services 3,500 1,188
Printing, binding, and publications 500
Power and light 5,000 2,436
Postage 700 589
Rentals 18,000 9,153
Maintenance materials 300
Operations materials 5.000 __3225
33.000 16.791
Total operating expenses $ 63.000 $ 46.791
94
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,
Gienview 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).
VILLAGE OF GLENVIEW, ILLINOIS
Internal Service Funds
Combining Balance Sheet
December 31, 1994
(with comparative totals for 1993)
Municipal
Equipment Totals
~ ~surance 1994 1993
ASSETS
Current assets
Cash and investments $ 84,655 $ 1,483,226 $ 1,567,881 $ 1,828,567
Receivables - accounts 4,068 4,297 8,365 8,551
Investment in public entity
risk pool 518,994 518,994 417,615
Prepaid expenses 413.356 413 356
Total assets $88.723
RETAINED EARNINGS
Retained earnings $88.723
See accompanying notes to financial statements.
96
VILLAGE OF GLENVIEW, ILLINOIS
Internal Service Funds
CombLrfing Statement of Revenues, Expenses,
and Changes in Retained Earrtings
Year Ended December 31, 1994
(with comparative totals for 1993)
Municipal
Equipment Totals
Repair ~surance 1994 1993
Operating revenues
Charges f or services $ 463,513 $ 2,337,630 $ 2,801,143 $ 3,375,335
Miscellaneous 39,889 ~ 194.157
Total operating revenues 503,402 2,491,898 2,995,300 3,457,522
Operating expenses
Operations 595.165 ~ ~
Operating income (loss) (91.763) 197 ~;98 105.935 514.080
Nonoperating revenues
Interest income 1,910 50,139 52,049 38,824
Income from public entity
risk pool - HELP 1012,79 101 379 __.28,813_
1.910 151.518 __153A28 67.637
Net income (loss) before operating
transfers (89,853) 349,216 259,363 581,717
Operating transfers (out)
Capital Equipment Replacement
Fund (5.500) (5.500) (4.600)
Net Income (loss) (95,353) 349,216 253,863 577,117
Retained earnings
January 1 184.076 ~ ~ 1.677~616
December 31 $88.723 ~ ~ ~
See accompanying notes to financial statements.
97
VILLAGE OF GLENVIEW, ILLINOIS
Internal Service Funds
Combining Statement of Cash Flows
Year Ended December 31, 1994
(with comparative totals for 1993)
Municipal
Equipment Totals
~ ~sur~ce 1994 1993
Cash flows from operating activities
Operating income (loss) $ (91,763) $ 197,698 $ 105,935 $ 514,080
Adjustments to reconcile operating
income (loss) to net cash provided by
(used in) operating activities
Operating transfers (out) (5,500) (5,500) (4,600)
Changes in assets and liabilities
Accounts receivable 592 (406) 186 (3,904)
Prepaid expenses (413,356) (413,356)
Deposit in public entity
risk pool - IPBC 264,326
Accounts payable (68,948)
Due to other funds
(96.671) ~) .~)
Cash flows from investing activities
on 1,910 50.'13~ ~
Interest
Investments
Net Increase (decrease) In cash and
(94,761) (165,925) (260,686) 706,948
cash
equivalents
Cash and cash equivalents
1.649.151 ~
January
1
179.416
December 31 $ 84.655 ~ $1.567.881
Noncash Investing, Capital, and Financing Activities
The Insurance Fund recorded income of $101,379 the
on
investments
public
entity
pool
for the year ended December 31, 1994.
See accompanying notes to financial statements.
98
VILLAGE OF GLENVIEW, ILLINOIS
Municipal Equipment Repair Fund
Statement of Revenues, Expenses,
and Changes in Retained Earnings - Budget and Actual
Year Ended December 31, 1994 and Actual Only for 1993
1994 1993
~ Actual Actual
Operating revenues
Charges for services $ 626,981 $ 463,513 $ 656,769
Miscellaneous 39.889 39.673
Total operating revenues 626,981 503,402 696,442
Operating expenses
Operations ~ 595.165 599.743
Operating income (loss) (9,991) (91,763) 96,699
Nonoperating revenues
Interest income 1.000 1.910 2.897
Income (loss) before operating
transfers (8,991) (89,853) 99,596
Operating transfers (out)
Capital Equipment Replacement
Fund (5.500) (5:500) (4~600)
Net income (loss) $ [14.491) (95,353) 94,996
Retained earnings
January 1 184.076 89.080
December 31 588.723 $ 184.076
See accompanying notes to financial statements.
VILLAGE OF GLENVIEW, ILLINOIS
Municipal Equipment Repair Fund
Schedule of Operating Expenses - Budget and Actual
Year Ended December 31, 1994
Budget Actual
Operations
Regular salaries $ 182,288 $ 173,703
Overtime salaries 5,482 6,814
Temporary salaries 4,992 5,243
Longevity pay 2,050 2,050
Contractual professional services 500 250
Maintenance of equipment 89,000 67,269
Maintenance of buildings 5,000
Accident repairs 10,281
Uniform allowance 4,375 2,728
Fuel 160,000 148,571
Motor vehicle supplies 44,000 43,673
Cleaning and household supplies 3,500 3,752
Maintenance materials - equipment 95,000 92,100
Maintenance materials - buildings 5,000 3,704
Small tools and equipment 4,000 3,825
Equipment repairs 5,085 2,926
Machinery and equipment ~
Total operations ~ $ 595.165
100
VILLAGE OF GLENVIEW, ILLINOIS
Insurance Fund
Statement of Revenues, Expenses,
and Changes in Retained Earnings - Budget and Actual
Year Ended December 31, 1994 and Actual Only for 1993
1994 1993
Operating revenues
Charges for services $ 2,089,630 $ 2,337,630 $ 2,718,566
Miscellaneous
Total operating revenues 2,207,450 2,491,898 2,761,080
Operating expenses
Operations
Insurance premiums
Operating income (loss) (74.050) 197.698 417.381
Nonoperating revenues
Interest income 20,000 50,139 35,927
Income from public entity
risk pool - HELP 101.379 __282323_
__21Z001/ 151.518 64.740
Net income (loss)
Retained earnings
January 1 ~ 1.588.536
December 31
See accompanying notes to financial statements.
101
TRUST AND AGENCY FUNDS
Expendable Trust
Escrow Deposit Fund - The Escrow 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
Depaihiient.
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
Deferred Compensation Plan Fund - The Deferred Compensation Fund is used to account
for salary deductions held by the government employees. The deferred compensation is
available to employees upon termination or retirement.
Special Service Areas Fund - This fund accounts for various special service area bond issues.
VILLAGE OF GLENVIEW, ILLINOIS
Expendable Trust Funds
Combining Statement of Revenues, Expenditures,
and Changes in Fund Balances
Year Ended December 31, 1994
(with comparative totals for 1993)
Police
Department
Escrow Special Totals
Accost 1994 1993
Deposit
Deposit
Revenues
Fines and forfeits $ $ $ 7,387 $ 7,387 $ 986
Interest 142,414 1,395 356 144,165 126,143
Miscellaneous
Other 3.984 8.973 ~ 10.838
Total revenues ~ 5.379 16.716 164509 137.967
Expenditures
General government 4,554 4,554 6,807
Public safety 3.107 3.107 3,916
Total expenditures 4.554 3A07 7.661
Excess of revenues over
expenditures 142,414 825 13,609 156,848 127,244
Other financing (uses)
Operating transfers (out)
General Fund ~) ~(1t2,tL4)
Excess of revenues over
expenditures and other
financing uses 825 13,609 14,434 2,509
Fund balances
January 1 19.096 8.305 ~
December31 S 5 19.921 $ 21.914 ~ 41.835 $ 27.401
See accompanying notes to financial statements.
103
VILLAGE OF GLENVIEW, ILLINOIS
Pension Trust Funds
Combining Statement of Revenues, Expenses,
and Changes in Fund Balances
Year Ended December 31, 1994
(with comparative totals for 1993)
Police Firefighters' Totals
Pension Pension 1994 1993
Operating revenues
Taxes $ 353,765 $ 204,394 $ 558,159 $ 290,197
Contributions - employees 271,709 269,182 540,891 568,112
Interest 1,076,036 1,861,557 2,937,593 1,681,711
Miscellaneous
Gain on sale of investments 3.903.~,36
Total operating revenues 1.701.510 ~ 4.036.643 6.443.856
Operating expenses
Pensions and refunds 528,080 484,640 1,012,720 835,253
Miscellaneous
Other 4.933 __5,121 10.054 __25.915
Total operating expenses 533.013 489.761 ~ 861.168
Income before operating transfers 1,168,497 1,845,372 3,013,869 5,582,688
Operating transfers in
General Fund __292k35 39.669 69.504
Net income 1,198,332 1,885,041 3,083,373 5,649,309
Fund balances
January 1 ~13d252,~ ~ 39.171.084
December 31 ~ ~ ~ $ 39.171.084
See accompanying notes to financial statements.
104
VILLAGE OF GLENVIEW, ILLINOIS
Police Pension Fund
Statement of Revenues, Expenses,
and Changes in Fund Balance - Budget and Actual
Year Ended December 31, 1994
Budget Actual
Operating revenues
Taxes
Property taxes $ 216,530 $ 351,178
Replacement taxes 2,587
Contributions - employees 272,985 271,709
Interest
Total operating revenues 1,592,015 1.701.510
Operating expenses
Pensions and refunds 528,087 528,080
Miscellaneous
Contractual professional services 5.700 4.933
Total operating expenses 533.787 533.013
Income before operating transfers 1,058,228 1,168,497
Operating transfers in General Fund
Net income
Fund balance January 1
December 31
See accompanying notes to financial statements.
105
VILLAGE OF GLENVIEW, ILLINOIS
Firefighters' Pension Fund
Statement of Revenues, Expenses,
and Changes in Fund Balance - Budget and Actual
Year Ended December 31, 1994
Budget Actual
Operating revenues
Taxes
Property taxes - current $ 30,148 $ 164,292
Property taxes - prior 1,495
Replacement tax 431
Foreign fire insurance tax 35,000 38,176
Contributions - employees 320,512 269,182
Interest 1.508.000 1.861.557
Total operating revenues 1.893.660 __~
Operating expenses
Pensions and refunds 431,210 484,640
Miscellaneous
Contractual professional services 8.000 5.121
Total operating expenses " ~ 489.761
Income before operating transfers 1,454,450 1,845,372
Operating transfers in
General Fund 39.669 39.669
Net income $ 1.494.119 1,885,041
Fund balance
January 1 ~
December 31 ~
See accompanying notes to financial statements.
106
VILLAGE
OF
GLENVIEW, ILLINOIS
Agency Funds
Combining Statement of Changes in Assets and Liabilities
Year Ended December 31, 1994
Balances Balances
[anuary 1 Additions Deductions December 31
All Funds
ASSETS
Assets held by agents for
deferred compensation plan
(market value) $ 8,576,810 $ 1,040,330 $ 236,869 $ 9,380,271
Receivables - property taxes 159,441 164,130 159,441 164,130
Due from other funds 357 357
Total assets ~ $ 1.204.817 $ 396.310 $ 9.544.758
LIABILITIES
Due to other funds $ 13,403 $ $ 13,403 $
DUe to participants 8,576,810 1,040,330 236,869 9,380,271
Due to bondholders 146.038 164.487 146.038 164.487
Total liabilities ~ ~ $ 396.310 $ 9.544.758
Deferred Compensation
Plan Fund
ASSETS
Assets held by agents for
deferred compensation plan
(market value) $ 8.576.810 $ 1.040.330 $236.869 $ 9.380.270
LIABILITIES
Due to participants $ 8.576.810 $ 1.040.330 $236.869
Special Service Areas Fund
ASSETS
Receivables - property taxes $ 159,441 $ 164,130 $ 159,441 $ 164,130
DUe from other funds 357 357
$ 159.441 $ 164.487 $ 159.441 $ 164.487
LIABILITIES
DUe to other funds $ 13,403 $ $ 13,403 $
Due to bondholders 146.038 164.487 146.038 164.487
$ 159.441 $ 164.487 $ 159.441 $ 164.487
See accompanying notes to financial statements.
107
VILLAGE OF GLENVIEW, ILLINOIS
General Fixed Assets Account Group
Schedule of General Fixed Assets - by Souxce
December 31, 1994
(with comparative totals for 1993)
1994 1993
General fixed assets
Land $ 3,405,095 $ 3,405,095
Buildings and improvements 7,861,054 7,727,257
Equipment 7,019,354 6,380,500
Furniture 296,096 296,096
Office equipment
5 18.910.440 $ 18.137.789
Investment in general fixed assets
General revenues 15,111,161 14,338,510
Bond issues
$ 18.910.440 $ 18.137.789
108
VILLAGE OF GLENVIEW, ILLINOIS
General Fixed Assets Account Group
Schedule of Changes in General Fixed Assets - by Function and Activity
Year Ended December 31, 1994
Function and Balances Balances
Activity lanuary l Additions
General government
Executive $ 57,716 $ $ $ 57,716
Administrative 2,358,118 76,886 2,435,004
Finance 684,128 684,128
Building and grounds ~ 86.012
Total general government ~ __~ 3.497.191
Public safety
Police 3,358,724 142,349 3,501,073
Fire ~ ~
Total public safety ~ 437.476
Public works
Administration 2,004,270 60,513 2,064,783
Building division 807,345 51,704 859,049
Engineering 348,125 348,125
Street division 4,968,425 60,060 5,028,485
Equipment and supplies division &39~02
Total public works 8.967.667 ~ 9.139.944
$18.137.789 ~ ~ $18.910.440
110
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.
VILLAGE OF GLENVIEW, ILLINOIS
Component Unit - Library Fund
Combining Balance Sheet
December 31, 1994
(with comparative totals for 1993)
General Fixed
Asset Account Totals
~ Group 1994 1993
ASSETS
Cash and investments $ 1,149,027 $ $ 1,149,027 $ 1,006,973
Receivables
Property taxes 2,989,167 2,989,167 2,771,548
Accrued interest 2,056 2,056 1,434
General fixed assets 5.318.543 5.318.543 ~
Total assets ~ $ 5.318.543 ~ 9.458.793 ~
LIABILITIES AND
FUND BALANCE
Liabilities
Accrued payroll $ 25,663 $ $ 25,663 $ 25,728
Deferred revenues ~ 2.32~0~,16Z ~
Total liabilities 3.014.830 3.014.830 __.2,ZgZ,2Z6
Fund balance
Investment in general fixed
assets 5,318,5~3 5,318,5~3 5,312,455
Unreserved ~ ~ __982.679
_~L].25A~2~ 5.318.543 6.4&T963 ~
Total liabilities and
fund balance ~ $ 5.318.543 $ 9.458.793 ~
See accompanying notes to financial statements.
112
VILLAGE OF GLENVIEW, ILLINOIS
Component Unit - Library Fund
Statement of Revenues, Expenditures,
and Changes in Fund Balance - Budget and Actual
Year E~ded December 31, 1994 and Actual Only for 1993
1994 1993
~ Actual Actual
Revenues
Taxes
Property taxes-current $ 2,745,736 $ 2,418,797 $ 2,135,167
Replacement taxes 33,000 32,458 32,663
Intergovernmental
Per capita grant 47,591 45,314
Charges for services 62,500 56,706 64,907
Fines and forfeits 68,000 75,898 65,480
Interest 15,500 31,591 27,204
Miscellaneous
Donations 36,688 35,640
Unexpended funds 50,000
Other 3.800 6.191 4.658
Total revenues 3,026,127 2,658,329 2,411,033
Expenditures
Culture and recreation ~ ~ ~
Excess of revenues over expenditures 447,663 207,741 67,432
Other financing (uses)
Operating transfers (out) -
primary government
Capital Projects Fund (65,000) (65.000)
Excess of revenues over expenditures
and other financing uses $382.663 142,741 67,432
Fund balance
January 1 ~ ~
December 31 ~ 5982.679
See accompanying notes to financial statements.
113
VILLAGE OF GLENVIEW, ILLINOIS
Component Unit - Library Fund
Schedule of Expenditures - Budget and Actual
Year Ended December 31, 1994
~ Actual
Culture and recreation
Regular salaries $ 680,516 $ 616,772
Overtime salaries 2,000 311
Temporary salaries 660,715 681,158
Legal fees 1,500
Pubhc information 12,100 10,213
Printing 5,800 3,561
Printing, binding, and pubhcation 10,200 5,019
Power and lights 700 458
Heating 5,000 766
Postage 14,029 14,734
Telephone and telegraph 10,714 11,079
Dues and subscriptions 2,500 2,098
Maintenance of equipment 14,200 5,737
Maintenance of copiers 13,649 11,181
Maintenance of EDP equipment 31,900 29,309
On-line searching 5,800 2,299
Maintenance of buildings 40,342 43,103
Travel expense 13,900 6,634
Training 23,540 16,007
Trustee expense 2,500 1,259
Personnel recruitment 2,000 1,502
Director expenses 500 500
Library programs 21,160 17,021
Office supplies 11,200 11,456
Processing supplies 18,894 13,410
Circulation supphes 6,600 5,923
Audio visual supplies 4,394 5,849
Books, pamphlets, and materials 422,683 411,052
Periodicals 42,955 35,551
Audiovisual 56,604 44,479
Micro-form 30,436 25,574
Video tapes 25,420 28,413
Cataloging 18,000 24,313
Cleaning supphes 500 73
Contingencies 1,500 6,017
Other operating expenses 907 782
Machinery and equipment 55,954 50,423
Administrative support 185,852 185,252
Insurance ~ ~
Total expenditures ~ ~
114
VILLAGE OF GLENVIEW, ILLINOIS
Component Unit - Library Fund
General Fixed Assets Account Group
Schedule of General Fixed Assets - by Source
December 31, 1994
(with comparative totals for 1993)
1994 1993
General fixed assets
Land $ 500,000 $ 500,000
Buildings and improvements 4,100,540 4,100,540
Equipment 437,329 437,329
Furniture 277,388 271,300
Office equipment __3.286 ~
$ 5.318.543 ~
Investment in general fixed assets
General revenues $ 2,218,543 $ 2,212,455
Bond issues 3.100.000 3.100.000
$ 5.318,543 ~
115
VILLAGE OF GLENVIEW, ILLINOIS
Illinois Municipal Retirement Fund
Required Supplementary Information
Analysis of Funding Progress
December 31, 1994
(6)
(1) Unfunded
Net Pension
Assets Benefit
Available Obligation
for (4) as a
Benefits (2) (3) Unfunded (5) Percentage
(Lower of Pension Percentage Pension Annual of Covered
Fiscal Cost or Benefit Funded Benefit Covered Payroll
Year Market) ~ I{!L+ f23 ~ Payroll ~
1987 $ 2,930,396 $ 4,635,234 63.22% $ 1,704,838 $ 3,705,506 46.01%
1988 2,933,046 5,050,499 58.07 2,117,453 4,005,547 52.86
1989 3,527,092 5,869,171 60.10 2,342,079 4,426,475 52.91
1990 3,988,712 6,849,865 58.23 2,861,153 4,924,658 58.10
1991 5,079,052 7,308,562 69.49 2,229,510 5,362,109 41.58
1992 6,254,345 8,279,322 75.54 2,024,977 5,795,158 34.94
1993 7,161,743 9,128,558 78.45 1,966,815 6,142,697 32.02
1994 8,099,395 10,032,939 79.83 2,023,544 6,563,029 30.83
(During the implementation transition period all information required is presented for as many
years as is available.)
Analysis of the dollar amounts of net assets available for benefits, pension benefit obligation,
and unfunded pension benefit obligation in isolation can be misleading. Expressing the net
assets available for benefits as a percentage of the pension benefit obligation provides one
indication of funding status on a going-concern basis. Analysis of this percentage over time
indicates whether the system is becoming financially stronger or weaker. Generally, the
greater this percentage, the stronger the PERS. Trends in unfunded pension benefit obligation
and annual covered payroll are both affected by inflation. Expressing the unfunded pension
benefit obligation as a percentage of annual covered payroll approximately adjusts for the
effects of inflation and aids analysis of progress made in accumulating sufficient assets to pay
benefits wl~en due. Generally, the smaller the percentage, the stronger the PERS.
116
VILLAGE OF GLENVIEW, ILLINOIS
Police Pension Fund
Required Supplementary Information
Analysis of FundIng Progress
December 31, 1994
(6)
Unfunded
(Assets in
(1) Excess o0
Net Pension
Assets (4) Benefit
Available Urffunded Obligation
for (Assets in as a
Benefits (2) (3) Excess of) (5) Percentage
(Lower of Pension Percentage Pension Annual of Covered
Fiscal Cost or Benefit Funded Benefit Covered Payroll
Year Market] Obligation {1) + (2) Qbligation Payroll (4) + (5)
1987 $ 8,223,642 $ 7,999,650 102.80% $ (223,992) $ 2,040,100 (10.98)%
1988 8,949,779 7,920,498 113.00 (1,029,281) 2,08%055 (49.27)
1989 10,095,845 8,550,352 118.08 (1,545,493) 2,282,311 (67.72)
1990 10,093,095 8,915,058 113.21 (1,178,037) 2,373,700 (49.63)
1991 10,791,415 %883,148 109.19 (908,267) 2,868,564 (31.66)
1992 11,693,308 10,795,402 108.32 (897,906) 2,721,721 (32.99)
1993 12,603,771 12,780,370 98.62 176,599 2,890,155 6.11
1994 13,625,250 13,983,709 97.44 358,459 3,018,989 11.87
(During the implementation transition period, all information required is presented for as
many years as are available.)
Analysis of the dollar amounts of net assets available for benefits, pension benefit obligation,
and unfunded pension benefit obligation in isolation can be misleading. Expressing the net
assets available for benefits as a percentage of the pension benefit obligation provides one
indication of funding status on a going-concern basis. Analysis of this percentage over time
indicates whether the system is becoming financially stronger or weaker. Generally, the
greater this percentage, the stronger the PERS. Trends in unfunded pension benefit obligation
and annual covered payroll are both affected by inflation. Expressing the unfunded pension
benefit obligation as a percentage of annual covered payroll approximately adjusts for the
effects of inflation and aids analysis of progress made in accumulating sufficient assets to pay
benefits when due. Generally, the smaller the percentage, the stronger the PERS.
117
VILLAGE OF GLENVIEW, ILLINOIS
Firefighters' Pension Fund
Required Supplementary Information
Analysis of Funding Progress
December 31, 1994
(6)
Unfunded
(Assets in
(1) Excess of)
Net Pension
Assets (4) Benefit
Available Unfunded Obligation
for (Assets in as a
Benefits (2) (3) Excess of) (5) Percentage
(Lower of Pension Percentage Pension Annual of Covered
Fiscal Cost or Benefit Funded Benefit Covered Payroll
Year Market) Obligation (1) + (2) Obligation Payroll (4) + (5~
1987 $ 7,114,349 $ 5,993,554 118.70% $ (1,120,795) $ 1,285,510 (87.19)%
1988 7,770,501 5,891,304 131.90 (1,879,197 1,304,443 (144.06)
1989 8,631,747 5,618,758 153.62 3,012,989 1,513,600 (199.06)
1990 8,628,996 6,154,764 140.20 2,474,232 1,638,158 (151.04)
1991 9,403,703 6,882,157 136,64 2,521,546 2,001,064 (126,01)
1992 10,532,848 7,643,219 137.81 2,889,629 2,481,233 (116.46)
1993 20,918,004 15,890,316 131.64 5,027,688 3,733,309 (134.67)
1994 25,545,834 18,064,023 141.47 7,481,811 3,262,812 (229.31)
(During the implementation transition period, all information required is presented for as
many years as are available.)
Analysis of the dollar amounts of net assets available for benefits, pension benefit obligation,
and unfunded pension benefit obligation In isolation can be misleading. Expressing the net
assets available for benefits as a percentage of the pension benefit obligation provides one
Indication of funding status on a going-concern basis. Analysis of this percentage over time
Indicates whether the system is becoming financially stronger or weaker. Generally, the
greater this percentage, the stronger the PEPS. Trends in unfunded pension benefit obligation
and annual covered payroll are both affected by Inflation. Expressing the unfunded pension
benefit obligation as a percentage of annual covered payroll approximately adjusts for the
effects of inflation and aids analysis of progress made in accumulating sufficient assets to pay
benefits when due. Generally, the smaller the percentage, the stronger the PEPS.
118
VILLAGE OF GLENVIEW, ILLINOIS
Illinois Municipal Retirement Fund
Required Supplementary Information
Revenues by Source
December 31, 1994
Employer
Contributions
as a
Revenues by Source Percentage
Fiscal Employee Employer Investment of Covered
Year Contributions Contributions income Totals Payroll
1985 $ 152,811 $ 245,516 N/A $ 398,327 ***%
1986 152,811 245,5t6 N/A 398,327 ***
1987 166,751 259,384 N/A 426,135 7.00
1988 180,252 280,388 N/A 460,640 7.00
1989 199,196 399,710 N/A 598,906 9.03
1990 221,613 521,029 N/A 742,641 10.58
1991 241,298 613,961 N/A 855,259 11.45
1992 260,785 678,613 N/A 939,398 11.71
1993 276,421 640,070 N/A 916,491 14.92
1994 295,336 683,868 N/A 979,204 10.42
N/A - Not applicable
*** - Not available
119
VILLAGE OF GLENVIEW, ILLINOIS
Police Pension Fund
Required Supplementary Information
Revenues by Source and Expenses by Type
December 31, 1994
Employer
Contributions
as a
Percentage
as a
Revenues by Source Percentage
Fiscal Employee Employer Investment of Covered
Year ~ Contributions Income Totals Payroll
1985 $ 149,009 $ 577,336 $ 465,639 $ 1,191,984 31.96%
1986 155,785 530,381 835,810 1,521,976 28.09
1987 173,746 474,199 805,820 1,453,765 23.24
1988 188,015 471,902 651,546 1,311,463 22.59
1989 205,408 152,076 1,159,038 1,516,522 6.60
1990 213,633 952 868,525 1,082,158 0.04
1991 234,979 26,039 1,070,563 1,331,581 0.90
1992 244,982 26,938 1,096,400 1,368,320 0.99
1993 260,114 247,148 1,070,563 1,577,825 8.56
1994 271,709 383,600 1,076,036 1,731,345 12.71
_ Expenses by T.vpe
Fiscal Administrative Refunds
Year Benefits Expenses and Other Totals
1985 $ 257,364 $ 1,083 $ $ 258,447
1986 290,240 15,203 305,443
1987 305,476 4,384 11,312 321,172
1988 330,573 1,002 112,980 a.~,555
1989 364,756 5,185 369,941
1990 404,054 5,402 409,456
1991 418,578 4,692 6,413 429,683
1992 453,894 3,963 457,857
1993 485,743 4,672 490,415
1994 528,080 4,933 533,013
120
VILLAGE OF GLENVIEW, ILLINOIS
Firefighters' Pension Fund
Required Supplementary Information
Revenues by Source and Expenses by Type
December 31, 1994
Employer
Contributions
as a
Percentage
as a
Revenues by Source Percentage
Fiscal Employee Employer Investment of Covered
y~r Contributions Contributions Income Totals P~yrc~ll
1985 $ 95,739 $ 338,605 $ 418,232 $ 852,576 27.41%
1986 98,923 342,227 772,208 1,213,358 26.81
1987 111,604 290,435 843,509 1,245,548 22.59
1988 120,661 288,177 532,880 941,718 22.09
1989 124,872 39,040 824,334 988,246 5.90
1990 135,148 28,441 742,209 905,798 1.75
1991 145,147 47,393 1,088,346 1,280,886 2.37
1992 204,701 63,262 1,453,667 1,721,630 2.55
1993 307,998 109,670 4,580,915 4,998,583 2.94
1994 269,182 244,063 1,861,557 2,374,802 7.48
Expenses by T.vpe
Fiscal Administrative Refunds
Year Benefits Expenses and Other Totals
1985 $ 65,564 $ 2,236 $ $ 67,800
1986 93,919 625 94,544
1987 94,748 858 32,813 128,419
1988 93,679 808 19,551 114 038
1989 142,093 2,900 144 993
1990 144,519 4,137 148 656
1991 146,210 5,532 151 742
1992 180,815 3,069 183 884
1993 349,510 21,243 370 753
1994 447,033 5,121 37,607 489 761
121
VILLAGE OF GLENVIEW, ILLINOIS
Combined Schedule of Cash and Investments
December 31, 1994
(See Following Page)
~c ~ u
VILLAGE OF GLENVIEW, ILLINOIS
Schedule of Insurance in Force
December 31, 1994
Village of Glenview London Package 12/31/95 Lloyd's and
London Compazxies
Property $ 1,000,000
Auto Physical Damage 1,000,000
General Liability
General Aggregate 1,000,000
Products/Completed
Operations 1,000,000
Personal/Advertising Injury 1,000,000
Each Occurrence 1,000,000
Medical Expense 10,000
Employee Benefits 500,000
Police Professional 1,000,000
Errors and Omissions 1,000,000
Auto Liability 1,000,000
Medical Payments 10,000
Workers' Compensation
Coverage A Statutory
Coverage B 300,000
Crime
Forgery/Alt. 100,000
Counterfeit Papers 100,000
Excess Workers' Compensation 12/31/95 Safety National
Coverage A Statutory
Coverage B 500,000
Excess Property
Excess of Lloyd's Property 36,171,519 12/31/95 Travelers
Boiler & Machinery 30,000,000 12/31/95 Kemper
Crime
Primary Public Employee
Dishonesty 250,000 12/31/95 Kemper
Library Treasurers' Bond 1,000,000 4/13/96 Kemper
Treasurers' Bond 1,000,000 4/19/96 Kemper
Drop Down 1,000,000 12/31/95 Lloyd's and
London Companies
124
VILLAGE OF GLENVIEW, ILLINOIS
Long-Term Debt Requirements
Corporate Purpose Bond Series of 1977
December 31, 1994
Date of Issue July 1, 1977
Date of Maturity January 1, 1998
Authorized Issue $4,525,000
Denomination of Bonds $5,000
Interest Rates Bonds 1 to 235 6.00%%
Bonds 236 to 320 4.60%
Bonds 321 to 365 4.80%
Bonds 416 to 465 4.90%
Bonds 466 to 905 5.00%
Interest Dates January 1 and July 1
Principal Maturity Date January 1
Payable at American National Bank and
Trust Company of Chicago
CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Fiscal Bond -Tax Levy ....... 4_ Interest Due o~1
Year Numbers PrincipflI ~ Totals Iuly 1 /kmount Ian. 1 /kmount
1995 696.760 $ 325,000 $ 52,500 $ 377,500 1995 $ 26,250 1996 $ 26,250
1996 761-830 350,000 36,250 386,250 1996 18,125 1997 18,125
1997 831-905 375.000 18.750 393.750 1997 9,37~ 1998 9.37~
$ 1.050.000 ~ $ 1.157.500 ~
Note: The principal and interest will be paid by Waterworks Fund.
125
VILLAGE OF GLENVIEW, ILLINOIS
Long-Term Debt Requirements
Corporate Purpose Bond Series of 1989
December 31, 1994
Date of Issue July 1, 1989
Date of Maturity December 1, 2004
Authorized Issue $8,000,000 *
Denomination of Bonds $5,000
Interest Rates 1989-1991 6.10%
1992-1993 6.20%
1994-1995 6.25%
1996-1997 6.30% *
1998-1999 6.40% *
2000-2001 6.50% *
2002-2004 6.60% *
Interest Dates June I and December 1
Principal Maturity Date December 1
American National Bank and
Payable at
Trust Company of Chicago
CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Tax Interest Due on
Fiscal Levy Bond
Year Year ]hklIBl2g~ principal Interest T_otals Ililke..1 ~ Dec. 1 ~,mount
1995 1994 0376-0480 $ 525,000 $ 69,037 $ 594,037 1995 $ 34,519 1995 $ 34,518
1996 1995 0481-0595 575.000 .36.226 ~1.226 1996 18.113 1996 18.113
* Bond principal and interest payments for the period June 1, 1997 through December 1, 2004
were refunded by the Corporate Purpose Refunding Bond Series of 1994.
126
VILLAGE OF GLENVIEW, ILLINOIS
Long-Term Debt Requirements
Corporate Purpose Bond Series of 1990
December 31, 1994
Date of Issue May 1, 1990
Date of Maturity December 1, 2002
Authorized Issue $4,500,000 *
Denomination of Bonds $5,000
Interest Rates 1991 6.10%
1992 6.25%
1993 6.40%
1994 6.45%
1995 6.60%
1996 6.70%
1997 6.80%
1998 6.85% *
1999-2002 6.90% *
Interest Dates June 1 and December 1
Principal Maturity Date December 1
Payable at American National Bank and
Trust Company of Chicago
CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Tax
Fiscal Levy Bond ............... ~ ............................ ~ ...........
Year Year Numbers Principal ~ Totals J. KI]el Amount Dec. l Amount
1995 1994 221-285 $ 350,000 $ 77,125 $ 427,125 1995 $ 38,563 1995 $ 38,562
1996 1995 286-355 375,000 54,025 429,025 1996 27,013 1996 27,012
1997 1996 356-430 425.000 28.900 453.900 1997 14.450 1997 14.450
S 1.150.0,00 S 160.050 $1.310.0~0 $ 80.026 $ 80.024
* Bond principal and interest payments for the period June 1, 1998 through December 1, 2002
were refunded by the Corporate Purpose Refunding Bond Series of 1994.
127
VILLAGE OF GLENVIEW, ILLINOIS
Long-Term Debt Requirements
Corporate Purpose Bond Series of 1991
December 31, 1994
Date of Issue December 1, 1991
Date of Maturity December 1, 1999
Authorized Issue $4,165,000
Denomination of Bonds $5,000
Interest Rates 1991-1992 4.40%
1992-1993 4.50%
1993-1994 4.70%
1994-1995 4.70%
1995-1996 4.90%
1996-1997 5.00%
1997-1998 5.00%
1998-1999 5.10%
Interest Date December 1
Principal Maturity Date December 1
Payable at American National Bank and
Trust Company of Chicago
CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Fiscal levy Bond Tax Levy Interest Due
Year YCgr Numbers Princival Interest Totals lune 1 Amount Dec. 1 Amount
1995 1994 246-389 $ 720,000 $ 144,510 $ 864,510 1995 $ 72,255 1995 $ 72,255
1996 1995 390-532 715,000 110,670 825,670 1996 55,335 1996 55,335
1997 1996 533-666 670,000 75,635 745,635 1997 37,818 1997 37,817
1998 1997 667-756 450,000 42,135 492,135 1998 21,067 1998 21,068
1999 1998 757-833 385.000 19.635 404.635 1999 9.817 1999 9.818
$ 2,940.000 $ 392.585 $ 3.332585 $ 1962.92 $ 1962.93
Note: The above bond issue is to be retired annually by the Waterworks Fund (79%) and the
Corporate Purpose Bond Series of 1991 (21%). The bonds payable are: $2,473,800 by
Waterworks Fund and $466,200 by the Corporate purpose Bond Series of 1991 Fund.
128
VILLAGE OF GLENVIEW, ILLINOIS
Long-Term Debt Requirements
Corporate Purpose Bond Series of 1992
December 31, 1994
Date of Issue April 1, 1992
Date of Maturity December 1, 2012
Authorized Issue $2,895,000
Denomination of Bonds $5,000
Interest Rates 1994 4.30% 2002 6.10%
1995 4.75% 2003 6.20%
1996 5.10% 2004 6.30%
1997 5.25% 2005 6.40%
1998 5.50% 2006 6.50%
1999 5.75% 2007-2008 6.55%
2000 5.90% 2009-2012 6.60%
2001 6.00%
Interest Dates June 1 and December 1
Principal Maturity Date December 1
Payable at 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 Tune 1 Amount Dec. 1 Amount
1995 1994 018-038 $ 95,000 $ 174,230 $ 269,230 1995 $ 87,115 1995 $ 87,115
1996 1995 039-057 95,000 169,718 264,718 1996 84,859 1996 84,859
1997 1996 058-077 100,000 164,874 264,874 1997 82,437 1997 82,437
1998 1997 078,098 105,000 159,624 264,624 1998 79,812 1998 79,812
1999 1998 099-120 110,000 153,848 263,848 1999 76,924 1999 76,924
2000 1999 121-144 120,000 147,824 2670524 2000 73,762 2000 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 62,807
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 2~7-320 170,000 96,334 266,334 2006 48,167 2006 48,167
2007 2006 321-366 180,000 85,284 265,284 2007 42,642 2007 42,642
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
$ 2,800.0~} $ 2.002-676 5 4.802.676 $ 1.001.35[~ $ 1.001338
129
VILLAGE OF GLENVIEW, ILLINOIS
Long-Term Debt Requirements
Corporate Purpose Bond Series of 1993
December 31, 1994
Date of Issue May 1, 1993
Date of Maturity December 1, 2005
Authorized Issue $7,635,000
Denomination of Bonds $5,000
Interest Rates 1994 4.60% 2000 4.60%
1995 4.60% 2001 4.60%
1996 4.60% 2002 4.60%
1997 4.60% 2003 4.60%
1998 4.60% 2004 4.60%
1999 4.60% 2005 4.70%
Interest Dates June 1 and December 1
Principal Maturity Date December 1
Payable at 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 ¥~4~r Numbers Principal Interest T~)~I~ ]une I Amount Dec. 1 Amount
1995 1994 018~)38 $ 205,000 $ 352,556 $ 557,556 1995 $ 176,278 1995 $ 176,278
1996 1995 039~)57 215,000 343,126 558,126 1996 171,563 1996 171,563
1997 1996 058~377 290,000 333,236 623,236 1997 166,618 1997 166,618
1998 1997 078-098 570,000 319,896 889,896 1998 159,948 1998 159,948
1999 1998 099-120 590,000 293,676 883,676 1999 146,838 1999 146,838
2000 1999 121-144 610,000 266,536 876,536 2000 133,268 2000 133,268
2001 2000 145-169 700,000 238,476 938,476 2001 119,238 2001 119,238
2002 2001 170-195 790,000 206,276 996,276 2002 103,138 2002 103,138
2003 2002 196-224 1,125,000 169,936 1,294,936 2003 84,968 2003 84,968
2004 2003 225-2,54 1,195,000 118,186 1,313,186 2004 59,093 2004 59,093
2005 2004 255-286 1345.000 63.216 1.408.216 2005 31.608 2005 31.608
$ 7.635.000 $ 2.705.116 $ 10~340.116 $ 1.352.558 $ 1.352.558
130
VILLAGE OF GLENVIEW, ILLINOIS
Long-Term Debt Requirements
Corporate Purpose Bond Series of 1994
December 31, 1994
Date of Issue September 15, 1994
Date of Maturity December 1, 2004
Authorized Issue $8,040,000
Denomination of Bonds $5,000
Interest Rates 1994 4.00% 2000 4.85%
1995-1997 4.40% 2001 4.90%
1998 4.60% 2002 5.00%
1999 4.75% 2003-2004 5.10%
Interest Dates June 1 and December 1
Principal Maturity Date December 1
Payable at American National Bank and
Trust Company of Chicago
CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Tax
Fiscal Levy Bond Tax Levy Interest Due
Year Year N~bers ~ Interest Totals lune 1 Amount Dec. 1 Amour
1995 1994 0004-0020 $ 85,000 $ 386,510 $ 471,510 1995 $ 193,255 1995 $ 193,255
1996 1995 0021-0036 90,000 382,770 472,770 1996 I91,385 1996 191,385
1997 1996 0037-0174 690,000 378,810 1,068,810 1997 189,405 1997 189,405
1998 1997 0175-0406 1,160,000 348,450 1,508,450 1998 174,225 1998 174,225
1999 1998 0407-0649 1,215,000 295,090 1,510,090 1999 147,545 1999 147,545
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 1136-1367 1,160,000 118,945 1,278,945 2002 58,472 2002 59,473
2003 2002 1368-1485 590,000 60,945 650,945 2003 30,472 2003 30,473
2004 2003 1486-1608 605.000 30.855 635.855 2004 15.427 2004 15.428
$ 8.025.000 S 2.415.293 $ 10.440.293 $ 1.20Z645 $ 1.20Z648
131
VILLAGE OF GLENVIEW, ILLINOIS
Property Tax Assessed Valuations, Rates, Extensions,
and Collections - Last Ten Fiscal Years
December 31, 1994
(See Following Page)
VILLAGE OF GLENVIEW, ILLINOIS
Property Tax Rates - Direct and Overlapping Governments -
Last Ten Fiscal Years
December 31, 1994
(See Following Page)
VILLAGE OF GLENVIEW, ILLINOIS
Schedule of Direct and Overlapping Bonded Debt
December 31, 1994
Percent of Village's
Village's Applicable Shares
1993 Real (Note 1) of Gross
Property Gross Debt to be Paid from
in Taxing Bonded Real Property Taxes
Body Debt laercent Amount
SCHOOL DISTRICTS:
Elementary Districts:
Glenview School Dist. No. 34 71.5% $ 9,660,000 85.719% $ 8,280,455
Northbrook School Dist. No. 30 9.7 9,330,000 32.963 3,075,448
West Northfield School Dist. No. 31 8.2 10,780,000 20.168 2,174,110
Wilmette School Dist. No. 39 3.3 2,305,(D0 4.918 113,360
East Maine School Dist. No. 63 2.8 27,015,000 4.218 1,139,493
Golf School Dist. No. 67 2.7 2,300,000 15.212 349,876
Avoca School Dist. No. 37 1,~ 6,500,000 7.660 497,900
100.0
High School Districts:
Northfield Township High School
Dis'c No. 225 88.7 12,000,000 (2) 33.985 4,078,200
New Trier Township High School
Dist. No. 203 5.1 24,195,000 2.433 588,664
Niles Township High School
Dist. No. 219 3.4 17,665,000 1.419 250,666
Maine Township High School
Dist. No. 207 2.8 6,700,000 1.029 68,943
100.0
Community College Distrlct:
Oakton Comm. College No. 535 100.0 5,600,000 9.123 510.888
Total School District~ 21.128.003
OTHER THAN SCHOOL DISTRICTS:
Cook County, Incl. Forest Preserve District 100.0 1,408,230000 (3) 1.416 19,940,537
Metropolitan Water Reclamation District 100.0 976,105,000 (3) 1.447 14,124,239
Glenview Park District 99.1 3A70,000 (4) 81.348 2,822,776
Northbrook Park District 0.4 2,815,000 (4) 0.345 9,712
Northfield Woods Sanitary District 7.9 1,585,000 26.525 420,421
North Main Fire Protection District 0.5 3,315,000 2.595 86,024
Glenview Special Service Areas Various 1,337,875 100.0(30 1.337.875
Total Other Than School Districts 38.741.584
Village of Glenview 24.700.000
Total direct and overlapping
bonded debt $ 84.569.587
Note: 1. Village's share based upon 1993 Real Property valuations.
2. Includes the $4,100,000 general obligation bonds dated December 1, 1994 and $4,900,000 general
obligation bonds dated January 19, 1995.
2. Excludes General Obligation Notes issued in lieu of tax anticipation warrants and notes issued to
provide interim construction financing. Also excludes $210,000,000 bond anticipation notes issued in
November, 1994 by ~e Metropolitan Water Reclamation District.
4. Excludes the following "Alternate Bonds" issued pursuant to Public Act 85-1419, which are considered
to be self-supporting ~mce they are payable from user fees or other pledged non-property tax sources:
Glenview Park District - $16,500,000; and Northbrook Park District - $12,750,000.
138
VILLAGE OF GLENVIEW, ILLINOIS
Schedule of Legal Debt Margin
December 31, 1994
There is no legal debt limit for home rule municipalities in Illinois.
Article VII, Section 6(k) of the 1970 Illinois Constitution governs computation of the legal debt
margin.
"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 munidpalities.
139
VILLAGE OF GLENVIEW, ILLINOIS
Demographic Statistics
Last Ten Fiscal Years
December 31, 1994
Education
Level in
Per Years of (2) (3)
Fiscal (1) Capita Median Formal School Unemployment
Y~r Population Income Age Schooling EnrolLment
1985 34,500 $ 18,632 33.8 15.6 2,666 4.9%
1986 36,375 18,741 33.6 15.7 2,701 4.2
1987 36,400 19,490 33.9 15.9 2,794 4.1
1988 36,400 21,429 34.5 16.4 2,963 4.1
1989 36,400 22,350 34.7 16.5 3,024 3.5
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 30,531 37.5 16.5 5,937 4.6
1994 38,437 30,531 37.5 16.5 6,023 3.6
Data Sources
(1) U.S. Department of Commerce, Bureau of the Census, 1990 Census.
(2) Includes elementary and h/gh school students.
(3) Illinois Department of Labor, Illinois Department of Employment Security.
142
VILLAGE OF GLENVIEW, ILLINOIS
Miscellaneous Statistics
December 31, 1994
of Incorporation June 20, 1899
of Government Council-Manager
Geographic Location 20 Miles North of Chicago
13 Square Miles
Population
1950 (1) 6,142
1960 (1) 18,132
1963 22,364
1970 (1) 24,880
1975 30,552
1980 (1) 32,060
1984 34,225
1985 34,500
1986 36,375
1987 36,400
1988 36,400
1989 36,400
1990 (1) 38,437
1991 (1) 38,437
1992 38,437
1993 38,437
1994
Number of Total HousIng Units (1993 Census) 11,399
Median Value Owner-Occupied Noncondominium Housing Units $ 235,600
Distribution of Owner-Occupied
Noncondominium Houses by Value
~ Unit Distribution
Number Percent
Under $100,000 305 3.2%
100,000 - 199,999 3,303 34.7
200,000 - 299,999 2,895 30.4
300,000 or More 3.017 31.7
9.520 100.0%
The above information from the Bureau of the Census, other years estimated.
145
VILLAGE OF GLENVIEW, ILLINOIS
Miscellaneous Statistics
December 31, 1994
Fire Protection
Number of Firefighters 79
Number of Stations 3
Number of Fire Hydrants 2,005
I.S.O. Rating Class 3
Police Protection
Number of Police Officers 66
Number of School Crossing Guards 18
Number of Stations 1
Library Services
Number of Libraries 1
Number of Books 238,316
Number of Records 3,156
Number of Audio Cassettes 6,655
Number of Slides 285
Number of Video Tapes 4,270
Number of Compact Discs 5,449
Number of Registered Borrowers 29,924
1993 Book Circulation 726,432
Recreation Facilities
Number of Parks and Playgrounds 24
Park area in acres - Park District owned 340
Park area in acres - Park District leased 125
Municipal Parking Facilities
Number of parking spaces 666
Waterworks
Fund
Waterworks operations
Number of sewer customers served during fiscal year 9,380
Number of metered water customers at December 31, 1993 13,442
Number of metered water customers at December 31, 1993 None
Gallons of water purchased during fiscal year 2,503,930,000
Gallons of water billed during fiscal year 2,106,734,000
Water Storage Capacity
Ground Storage 8,500,000
Elevated Storage 1,000,000
146
VILLAGE OF GLENVIEW, ILLINOIS
Miscellaneous Statistics
December 31, 1994
Number of Full Time Employees (ov~ December 31, 1993) 272
Miles of streets maintained by Glenview
identified by functional classification:
Arterial 7
Collector 5
Residential 54
Cul-De-Sacs 12
Total 10~
Miles of streets maintained by Glenview
identified by surface type:
Asphalt 91
Concrete 17
Total 108
Miles of alleys maintained by Glenview 2.2
Miles of streets within the Village of
Glenview maintained by Cook County 22
or the State of Illinois
Miles of sanitary sewers 85
Miles of storm sewers 74
Number of Village owned street lights 66
Building activity
Number of Permits issued in 1993 222
Value of Construction authorized in 1993 $ 19,845,212
147
VILLAGE OF GLENVIEW, ILLINOIS
Salaries and Surety Bond
of Principal Officials
December 31, 1994
Annual Amount of
Salary Surety Bond
Village President $ 1,200 $ 250,000
Village Trustees 300 250 000
Village Treasurer, Manager, and Clerk 102,216 500 000
Finance Director 83,114 250 000
Purchasing Agent 50,532 250 000
Assistant Finance Director 55,404 250 000
Assistant Village Manager 63,706 250 000
Police Chief 77,205 250 000
Deputy Police Chief 65,304 250 000
Fire Chief 77,205 250 000
Deputy Fire Chief 65,304 250 000
Fire Commander 56A96 250 000
Director of Development 77,205 250,000
Village Engineer 66,996 250,000
Public Works Superintendent 77,205 250,000
Director of Building and Zoning 66,996 250,000
Water Distribution Superintendent 61,023 250,000
Head Librarian 73,500 250,000
Public Works Director 77,205 250,000
149
VILLAGE OF GLENVIEW, ILLINOIS
Major Corporate Fund Revenue Sources
Non - Real Estate Tax
December 31, 1994
% of % of % of
Sales Total Utility Total Income Total
Year Tox Revenue T0x Revenue Tax Revenue
1985 $ 2,462,183 30.2% $ 1,999,838 24.5% $ 723,008 8.8%
1986 2,815,209 28.7 2,066,996 21.1 804,896 8.2
1987 3,178,578 30.3 2,119,255 20.2 900,124 8.6
1988 3,132,518 30.3 2,202,445 21.3 952,708 9.2
1989 3,425A77 28.8 2,414,772 20.3 1,406,056 11.8
1990 3,287,825 25.6 2,419,761 18.9 1,345,428 10.4
1991 3,358,151 28.5 2,687,159 22.8 1,605,474 13.6
1992 3,608,071 26.7 2,744,525 20.3 1,651,925 12.2
1993 4,188,116 29.4 2,876,149 20.2 1,966,124 13.8
1994 4,438,932 31.52 2,512,867 17.9 2,157,707 15.3
150