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HomeMy Public PortalAbout2000 Comprehensive Annual Financial ReportVILLAGE OF GLENVIEW, ILLINOIS COMPREHENSIVE ANNUAL FINANCIAL REPORT YEAR ENDED DECEMBER 31, 2000 Prepared by Finance Depa~ [iiient Daniel P. Wiersma Director of Finance Harry I. Sakai Assistant Director of Finance I I ! I I I I I I I I I I I I I I I I VILLAGE OF GLENVIEW, ILLINOIS Comprehensive Annual Financial Report Table of Contents December 31, 2000 PAGE INTRODUCTORY SECTION Principal Officials i Organization Chart ii Certificate of Achievement for Excellence in Financial Reporting iii Director of Finance's Letter of Transmittal iv - xv 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 Fiduciary (Expendable Trust) Fund Types and Discretely Presented Component Unit Combined Statement of Revenues, Expenditures, and Changes in Fund Balances 4 All Governmental Fund Types Combined Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual 5 Ali Proprietary Fund Types Combined Statement of Revenues, Expenses, and Changes in Retained Earnings 6 Ali Pension Trust Funds Combined Statement of Changes in Plan Net Assets 7 Ali Proprietary Fund Types Combined Statement of Cash Flows 8 Notes to Financial Statements 9 - 43 VILLAGE OF GLENVIEW, ILLINOIS Comprehensive Annual Financial Report Table of Contents December 31, 2000 PAGE FINANCIAL SECTION (CONT.) REQUIRED SUPPLEMENTARY INFORMATION Analysis of FunctLng Progress Illinois Municipal Retirement Fund 44 Police Pension Fund 45 Firefighters* Pension Fund 46 Employer Contributions l~linois Municipal Retirement Fund 47 Police Pension Fund 48 Firefighters' Pension Fund 49 COMBINING, INDIVIDUAL FUND, AND ACCOUNT GROUP STATEMENTS AND SCHEDULES GOVERNMENTAL FUND TYPES GENERAL FUND General Fund Balance Sheet 50 Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 51 Schedule of Revenues - Budget and Actual 52 - 53 Schedule of Expenditures - Budget and Actual 54 - 66 SPECIAL REVENUE FUNDS All Funds Combining Balance Sheet 67 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 68 VILLAGE OF GLENVIEW, ILLINOIS Comprehensive Annual Financial Report Table of Contents December 31, 2000 PAGE FINANCIAL SECTION (CONT.) GOVERNMENTAL FUND TYPES (CONT.) SPECIAL REVENUE FUNDS (CONT.) Illinois Municipal Retirement Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 69 Motor Fuel Tax Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 70 Refuse and Recycling Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 71 911 Communications Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 72 GNAS Redevelopment Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 73 Schedule of Expenditures - Budget and Actual 74 - 75 GNAS Caretaker Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 76 Schedule of Expenditures - Budget and Actual 77 - 80 VILLAGE OF GLENVIEW, ILLINOIS Comprehensive Annual Financial Report m Table of Contents December 31, 2000 m PAGE I FINANCIAL SECrlON (CONT.) GOVERNMENTAL FUND TYPES (CONT.) DEBT SERVICE FUNDS All Funds Combining Balance Sheet 81 m Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 82 I Combixting Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual 83 CAPITAL PROJECTS FUNDS I All Funds l Combining Balance Sheet 84 Combining Statement of Revenues, Expenditures, I and Changes in Fund Balances 85 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual 86 - 87 I PROPRIETARY FUND TYPES I ENTERPRISE FUNDS All Funds I Combining Balance Sheet 88 Combining Statement of Revenues, Expenses, and I Changes in Retained Earnings 89 Combining Schedule of Changes in Contributed Capital 90 I Combining Statement of Cash Flows 91 I I I VILLAGE OF GLEN-VIEW, ILLINOIS Comprehensive Annual Financial Report Table of Contents December 31, 2000 PAGE FINANCIAL SECTION (CONT.) PROPRIETARY FUND TYPES (CONT.) ENTERPRISE FUNDS (CONT.) Waterworks Fund Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual 92 Schedule of Operating Expenses - Budget and Actual 93 - 95 Schedule of Fixed Assets and Depreciation 96 Wholesale Water Fund Statement of Revenues, Expenses, and Changes in Retained Earrtings - Budget and Actual 97 Schedule of Operating Expenses - Budget and Actual 98 Schedule of Fixed Assets and Depreciation 99 North Maine Water and Sewer Fund Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual 100 Schedule of Operating Expenses - Budget and Actual 101 - 102 Schedule of Fixed Assets and Depreciation 103 Sewerage Fund Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual 104 Schedule of Opera~ng Expenses - Budget and Actual 105 - 106 Schedule of Fixed Assets and Depreciation 107 Commuter Parking Lot Fund Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual 108 Schedule of Operal~ng Expenses - Budget and Actual 109 Schedule of Fixed Assets and Depreciation 110 VILLAGE OF GLENVIEW, ILLINOIS Comprehensive Annual Financial Report Table of Contents December 31, 2000 PAGE FINANCIAL SECTION (CONT.) PROPRIETARY FUND TYPES (CONT.) INTERNAL SERVICE FUNDS All Funds Combining Balance Sheet 111 Combining Statement of Revenues, Expenses, and Changes in Retained Earnings 112 Combining Statement of Cash blows 113 Municipal Equipment Repair Fund Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual 114 Schedule of Operating Expenses - Budget and Actual 115 Insurance Fund Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual 116 FIDUCIARY FUND TYPES AGENCY FUNDS TRUST AND All Funds Combining Balance Sheet 117 Combining Statement of Plan Net Assets 118 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances (Expendable Trust Funds) 119 Combining Statement of Changes in Plan Net Assets (Pension Trust Funds) 120 VILLAGE OF GLENVIEW, ILLINOIS Comprehensive Annual Financial Report Table of Contents December 31, 2000 PAGE FINANCIAL SECTION (CONT.) FIDUCIARY FUND TYPES (CONT.) TRUST AND AGENCY FUNDS (CONT.) Pension Trust Funds Police Pension Fund Statement of Changes in Plan Net Assets - Budget and Actual 121 Firefighters' Pension Fund Statement of Changes in Plan Net Assets - Budget and Actual 122 Agency Funds Combining Statement of Changes in Assets and Liabilities 123 ACCOUNT GROUPS GENERAL FIXED ASSETS ACCOUNT GROUP Schedule of General Fixed Assets - by Source 124 Schedule of General Fixed Assets - by Function and Activity 125 Schedule of Changes in General Fixed Assets - by Function and Activity 126 GENERAL LONG-TERM DEBT ACCOUNT GROUP Schedule of General Long-Term Debt 127 COMPONENT UNIT Library Fund Combining Balance Sheet 128 Statement of Revenues, Expenditures, and Changes in Fund Balance 129 Schedule of Operating Expenditures - Budget and Actual 130 Schedule of General Fixed Assets - by Source 131 VILLAGE OF GLENVIEW, ILLINOIS Comprehensive Annual Financial Report Table of Contents December 31, 2000 PAGE FINANCIAL SECTION (CONT.) SUPPLEMENTAL DATA Combined Schedule of Cash and Investments 132 Schedule of InsUrance in Force 133 Long-Term Debt Requirements Corporate Purpose Bond Series of 1992 134 Corporate PUrpose Bond Series of 1993 135 Corporate Purpose Bond Series of 1994 136 Corporate Purpose Bond Series of 1996 137 Corporate Purpose Bond Series of 1997 138 Corporate Purpose Notes of 1997 139 General Obligation Bond Series of 1998A 140 General Obligation Bond Series of 1998B 141 General Obligation Bond Series of 2000 142 VILLAGE OF GLENVIEI~, ILLINOIS Comprehensive Annual Financial Report Table of Contents December 31, 2000 PAGE STATISTICAL SECTION General Governmental Revenues by Source - Last Ten Fiscal Years 143 General Governmental Expenditures by Function - Last Ten Fiscal Years 144 Property Tax Assessed Valuations, Rates, Extensions, and Collections - Last Ten Fiscal Years 145 Assessed and Estimated Actual Value of Taxable Property - Last Ten Fiscal Years 146 Property Tax Rates - Direct and Overlapping Governments - Last Ten Fiscal Years 147 Ratio of Net General Obligation Bonded Debt to Assessed Value and Net General Obligation Bonded Debt Per Capita - Last Ten Fiscal Years 148 Schedule of Legal Debt Margin 149 Ratio of Annual Debt Service Expenditures for General Obligation Debt to Total General Governmental Expenditures - Last Ten Fiscal Years 150 Schedule of Revenue Bond Coverage - Last Ten Fiscal Years 151 Demographic Statistics - Last Ten Fiscal Years 152 Construction Value and Building Permits - Last Ten Fiscal years 153 Miscellaneous Statistics 154 - 156 Ten Wealthiest Illinois Communities - 1990 Census 157 Major Corporate Fund Revenue Sources 158 VILLAGE OF GLENVIEW, ILLINOIS Comprehensive Annual Financial Report Table of Contents December 31, 2000 PAGE STATISTICAL SECTION (CONT.) ADDITIONAL DISCLOSURES REQUIRED BY SEC RULE 15c2-12 Statement of Indebtedness (as of December 31, 2000) 159 Retirement Schedule of Outstanding Village General Obligation Debt 159 Debt Ratios and Per Capita Debt - Last Ten Bond Sales 160 Detailed Overlapping Bonded Indebtedness Payable from Property Taxes at December 31, 2000 160 Equalized Assessed Valuation for Taxing Purposes 161 Tax Rates Per $100 Equalized Assessed Valuation 161 Tax Extensions and Collections (Village Purposes Only) 162 1993 and 1998 Tax Base Distribution by Property Classification 162 Ten Largest Taxpayers 162 General Fund Summary Statement of Revenues, Expenditures, and Changes in Fund Balance (1996 - 2000) and 2001 Budget 163 Balance Sheets (1996 - 2000) 163 Combined Statement - Ail Funds Fund Balances 1996-1999 and Summary 2000 Revenues, Excess Revenues, and Fund Balances 164 - 165 Fixed Assets at December 31, 2000 165 VILLAGE OF GLENVIEW, ILLINOIS Principal Officials December 31, 2000 LEGISLATIVE Village Board of Trustees Nancy L. Firfer, President Lawrence R. Carlson Kent B. Fuller Rachel Cook Donna Pappo John D. Crawford John W. Patton, Jr. Paul T. McCarthy Village Clerk/Treasurer EXECUTIVE Paul T. McCarthy, Village Manager FINANCE DEPARTMENT Daniel P. Wiersma, Director of Finance Harry I. Sakal, Assistant Director of Finance i I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I i Certificate of Achievement for Excellence in Financial Reporting Presented to Village of Glenview, Illinois For its Comprehensive Annual Financial Report for the Fiscal Year Ended December 31, 1999 Certificate of Achievement for Excellence in Financial Reporling is presented by the Governmenl Finance Officers Association of the United States and Canada to government units and public employee retirement systems whose comprehensive annual financial reports (CAFRs) achieve the highest standards in government accounting and financial reporting. Executive Director iii I I ! I I I I I I I I I I I I I I I i ' Gl iew June 21, 2001 Honorable President and Members of the Board of Trustees Citizens of the Village of Glenview The comprehensive annual financial report of the Village of Glenview (the "Village") for the year ended December 31, 2000 is submitted herewith. This report represents a comprehensive picture of the Village's f'mancial activities during 2000 and the financial condition of its various funds at December 31, 2000. Although formally addressed to the elected officials and citizens of Glenview, this financial report has numerous other users. Foremost among the other users are the bondholders of the Village, financial institutions, educational institutions and other governmental entities. Responsibility for both the accuracy of the data presented as well as the completeness and fairness of the presentation, including all disclosures, rests with the Village. We believe the data, as presented, is accurate in all material respects; that it is presented in a manner designed to fairly set forth the financial position of the Village and the results of its operations as measured by the financial activity of its various funds; and that all disclosures necessary to enable the reader to gain the maximum understanding of the Village's fmancial affairs have been included. The comprehensive annual financial report is presented in three sections: introductory, financial and statistical. The introductory section includes this transmittal letter, the Village's organizational chart and a list of principal officials. The financial section includes the general purpose financial statements, and the combining, individual fund and account group financial statements and schedules, as well as the independent auditor's report on the financial statements and schedules. The statistical section includes selected financial and demographic information, generally presented on a multi-year basis, as well as all continuing disclosures required by Securities Exchange Commission Rule 15c2-12. 1225 Waukegan Road · Glenview, Illinois 60025 · (847) 724-1700 · (847) 724-4232 TDD I I I I I I I I I I I I I I I I I i I The Reporting Entity and its Services The Village of Glenview was incorporated in 1899 and operates under the council/manager form of government. It is a home rule municipality as defined by the Illinois Constitution. Located approximately 20 miles north of the City of Chicago, in Cook County, the Village occupies a land area of 13 miles and has certified 2000 Census of 41,847. This approximately square a figure represents an increase of 3,410 or 8.87% from the 1990 Census. The Village provides a full range of general governmental services. Specifically, the Village provides police and fire protection, health services, water and sewer utilities, construction and maintenance of streets, code enforcement, planning and zoning, library services, and general administrative services. The financial reporting entity of the Village of Glenview is comprised of all funds and account groups of the primary government (i.e., the Village of Glenview as legally defined) and its pension trust funds: the Glenview Police Pension Fund and the Glenview Firefighters' Pension Fund. These funds were determined to be pension trust funds due to their fiduciary and fiscal relationships with the Village as their sole purpose is to provide retirement benefits to the Village's sworn police officers and firefighters. The Glenview Public Library is included as a discrete presentation since it is elected board of No governed by a separately trustees. other legally separate entity qualifies as a component unit of the Village. Economic Condition and Outlook There are several measures of economic health for local governments. Perhaps four of the more objective measures or indicators are local employment levels, retail sales activity, family income levels and construction activity. Employment levels in the Village have always surpassed that of Cook County and the State of Illinois as a whole. As of December 31, 2000 the Village's unemployment rate was 2.5%, compared to 4.7% for Cook County and 4.5% for the State of lllinois. Retail sales within the Village totaled $652 million for 2000. This represents an increase of $77 million, or 13.4%, from 1999. The Village expects retails sales to continue to as additional grow retail space, currently under construction, comes on line. family figures that the average income of Glenview Median income from the 1990 Census show residents far exceeds county and state averages. According to the Census Bureau, Glenview's 1990 median family income was $67,412, compared to $38,664 for the State and $35,225 for the United States. This ranked Glenview as the fifth wealthiest community in the State of Illinois amongst communities with populations over 25,000. (The Village also ranked fifth in terms of median household income and fourth in per capita income when compared to these same communities.) For many years, there was no substantial new commercial or residential construction activity as little vacant land was available for development. However, construction activity has increased dramatically the 1,100 acre former Glenview Naval Air Station, ("The Glen") develops. as Within the whole Village during 2000, there were 18 new commercial developments constructed, with a total value of $33 million and 223 new residential housing permits issued. Major Initiatives For the Year 2000 was another year of significant advances in the Village's efforts to redevelop The Glen. The Navy and the Village came to agreement on the Economic Development Conveyance of the Navy base in 1998 and in light of the land use plan, and the massive infrastructure improvements needed to achieve that plan, the Village will have acquired the 1,100 acre base property for approximately $2.1 million. As of December 31, 2000, more than 1,000 acres had been deeded to the Village. The remainder of the property will be transferred to the Village once the Navy completes all required environmental clean-up, which is anticipated to occur by the end of 2001. Construction began in 1998 on the initial infrastructure improvements and is expected to continue into 2003. In addition, in 1998, the Village established a Tax Increment Financing District ("TIF"or "District") which encompasses The Glen. The TIF was created as a risk management tool to facilitate the redevelopment of the District. It is the Village's intent to close the District when the costs associated with the redevelopment have been fully addressed. As a result of the extensive work to develop a database of 1,200 marketing contacts, RFP's were received from 57 developer groups in 1998 on the parcels offered for development. Following analysis of the bids received, it was determined that all parcels received multiple bids from qualified developers. Negotiations were concluded with developers resulting in the receipts of $85 million in land sales in 1999 and $42 million during 2000. During 1999 the Village established the Village Permanent Fund. The Village transfers 20% of the Land Sales proceeds into this fund for Village wide improvements as well as providing liquidity to the TIF project in the near term. For the Future 2001 is expected to be another active year relative to the redevelopment of The Glen with approximately $85 million of infrastructure construction scheduled. The Redevelopment staffbas been negotiating with developers on the remaining parcels and it is anticipated that the balance of the parcels will be sold in 2001. The focus during the year will be on the activities surrounding the development of the Mixed Use Retail Center ("MURC") and working with developers to secure the optimal business mix. During 2001 the Village will begin the process to update its Comprehensive Plan. It is anticipated that this process will take 15 to 18 months and will provide the Village with a context for future development throughout the Village. Other notable projects for 2001 include: the purchase and installation of a new phone system for all operating departments; a space utilization study to determine the most efficient means to address the needs of the Police Department and Village Hall; the establishment of a Fire Communications Center to handle fire and EMS calls and wireless 9-1-1 mils; the design and construction of two additional fire stations to ensure appropriate response times throughout the Village; and the implementation of new software to assist the Development Department in its permitting function. Financial Information Management of the Village is responsible for establishing and maintaining internal controls designed to ensure that the assets of the Village are protected from loss, theft or misuse, and to ensure that adequate accounting data is compiled to allow for the timely preparation of financial statements in conformity with generally accepted accounting principles. Internal controls are designed to provide reasonable, but not absolute, assurance that these objectives are met. The concept of reasonable assurance recognizes that: (1) the cost of a control should not exceed the benefits likely to be derived; and (2) the valuation of the costs and benefits requires and judgements by management. estimates Budgetary Control The objective of budgetary controls is to ensure compliance with legal provisions embodied in the annual budget adopted by the Village's governing body. The budget covers activities of the general, special revenue, debt service, enterprise, internal service and certain capital and fiduciary funds. All appropriations lapse at year end, but open purchase orders are usually re-budgeted for in the subsequent year. The level of budgetary control, that is, the level at which expenditures cannot exceed the budgeted amount, is established at the fund level. The Village maintains an encumbrance accounting system for the governmental and proprietary funds as one method of accomplishing budgetary controls. Encumbrances outstanding at year end, if any, are reported as a reservation of fund balance since they do not constitute expenditures liabilities. or General Government Fnnction~ The following table presents a summary of revenues available for general governmental functions (the General, Special Revenue, Debt Service Funds and component unit - Library Funds) for the year ended December 31, 2000 with comparisons to the previous year. -vii - Increase Percent 2000 Percent (Decrease) Increase Revenues Amount of Total From 1999 (Decrease) Property Taxes $11,467,708 30.89% $1,139,631 11.03% Other Taxes 4,642,902 12.51 224,436 5.08 Total Taxes 16,110,610 43.40 1,364,067 9.25 Licenses and Permits t,737,399 4.68 503,719 40.83 Intergovernmental 14,394,795 38.78 942,570 7.01 Charges for Services 2,827,288 7.62 535,073 23.34 Fines and Forfeits 284,949 0.77 ( 59,368) (17.24) Interest Earnings 1,133,248 3.05 ( 794) ( .07) Miscellaneous 633,626 1.71 (888,737) (58.38) Total Revenues $37,121,915 100.00% $2,396,530 6.90% Total general goverlunental revenues for the year amounted to $37,132,334. This represents an increase of $2,406,949 or 6.93 % over 1999. Property tax revenues for general governmental purposes are reflect an increase of $1,139,631, or 11.03%. Other tax revenues totaled $4,642,902, representing an increase of $224,436 or 5.08%. The most significant components of Other Taxes are the Utility Tax, which amounted to $3,712,583, an increase of 13.97%, and the Hotel Tax, which generated $872,019, and increase of 8.58%. The increase in the utility tax receipts are somewhat misleading as the areas' major electric utility was unable to generate actual bills for most of 1999 and instead was making payments based on prior year averages. The utility remedied this problem and began issuing actual bills in January 2000, but the basis for comparison suspect. Revenue from the sale of licenses and permits totaled $1,737,399, an increase of $503,719, or 40.83 % compared to 1999. Building permit revenue totaled $1,420,971, an increase of $453,160 from 1999. While a majority of the permit revenue is associated with development at The Glen, a significant portion is attributable to building activity elsewhere within the Village and an indicator of the areas strong economy. Intergovernmental revenues increased $942,570 to $14,394,795, an increase of 7.01% over 1999. The largest single component of increase in this revenue category is Sales Tax which totaled $6,522,922, an increase of $764,305 or 13.27% over 1999. Income Tax, the next largest component, totaled $2,990,432, an increase of 9.13%. Other significant components of revenue in this category are payments from the Glenbrook Fire Protection District for fire protection and EMS service which totaled $1,968,076, down $155,916 or 7.34%, and Motor Fuel Tax at $1,141,541, which saw an increase of $188,653 or 19.79% due to higher fuel prices. -viii - I I Charges for Services totaled $2,827,288, an increase of 23.34% compared to 1999. The largest component of this revenue category is Engineering fees which increased from $382,103 in 1999 I to $781,081 in 2000. The cause for this significant increase is attributable tO the Engineering portion of the development and infrastructure work at The Glen. I Interest earnings in those funds providing general governmental functions totaled $1,133,218, a decrease of $794. Following is a breakdown of investment earnings by fund type: I 2000 1999 Interest Interest Increase I Fund Type Earnings Earnings (Decrease) General $665,382 $478,582 $186,800 I Special Revenue 91,003 75,044 15,959 Debt Service 275,904 474,188 (198,284) Library Component Unit 100,959 106,228 (5,269) I TOTAL $1,133,248 $1,134,042 ($ 794) I The increase in interest earnings for the General Fund and Special Revenue Fund can be attributed to closer monitoring of short term cash with the implementation of new investment monitoring I software, while the decrease for the debt service funds can be attributed to the fact that capitalized interest which generated interest earnings in prior years has been expended, leaving fewer dollars available for investment. I Miscellaneous revenues totaled $633,626 for 2000, a decrease of $888,737 from 1999. Included in the 1999 amount was $531,593 which was attributable to land sales (unrelated to The Glen). I Following is a table showing expenditures by service area with comparisons to the previous year i for the general, special revenue, debt service and component unit (Library) funds: Increase Percent I 2000 Percent (Decrease) Increase Expenditures Amount of Total from 1999 {Decrease) i General Govermnent $12,789,380 30.67% $3,450,485 36.95% Public Safety 13,564,127 32.53 955,849 7.58 Highways and Streets 5,382,953 12.91 (381,494) (6.62) Pensions 1,403,581 3.37 46,791 3.45 I Culture and Recreation 3,488,166 8.37 260,293 8.06 Debt Service 5,069,881 12.15 (21,152,110) (80.67) i Total Expenditures $41,698,088 100.00% $16,820,186) (28.74%) I-J.×- I I I Total expenditures for general governmental functions in 2000 were $41,698,088, a decrease of I $16,820,186 or 28.74% over 1999. As explained further below, the primary cause of the decrease in the governmental function expenditures can be attributed to reduced debt service 1 payments related to the redevelopment of The Glen. General governmental expenditures totaled $12,789,380, an increase of $3,450,485 or 36.95%. I There are two primary causes for this huge increase, the first, a one-time event, was the purchase of a parcel of property at a cost of $2,375,000, the second was the initial activity associated with · the Special Tax Allocation Fund which amounted to $1,108,986. This fund will exist until the 1 TIF DistriCt is dissolved. Expenditures in the Public Safety category totaled $13,564,127, an increase of $955,849, or I 7.58%, and is primarily due to the addition of personnel and the progression of employees on the step-plan: ! Expenditures in the highways and streets category totaled $5,382,953 in 2000, a decrease of $381,494, or 6.62% compared to 1999. I Debt service expenditures amounted to $5,069,881, compared to $26,221,991 in 1999. Of the total expenditures for 1999, $22.1 million was for the two bond issues related to the 1 redevelopment of The Glen; the Series 1995 Bond Anticipation Bonds and the Series 1996 General Obligation Bonds. The fmal principal payment on the Series 1995 Bond Anticipation Bond issue · amounted to $20.0 million in 1999. 1 General Fund Balance 1 I The General Fund ended 2000 with a deficiency of revenues and other financing sources over expenditures and other financing uses of $1,312,955. This brought the undesignated fund balance 1 to $10,844,349 at December 31, 2000, the equivalent of 34.7 % of actual 2000 expenditures and · transfers. Enterprise Operations I The Village has five enterprise operations accounted for in its financial statements, those being 1 the Waterworks Fund, the Wholesale Water Fund, the Sewerage Fund, the North Maine Water and Sewer Fund and the Commuter Parking Lot Fund. 1 The Waterworks Fund recorded net income of $38,629 for the year ended December 31, 2000. The f'mancial condition of the fund remains strong, with cash and investments totaling $2,516,757. I I I I The Wholesale Water Fund recorded a net loss of $25,848 for the year, resulting in retained earnings of $733,552. I The North Maine Water and Sewer Fund recorded a net loss of $311,730 for 2000. Of this amount $249,857 is the result of a one-time write-down of receivables associated with the I purchase of the system. The Fund ended the with cash and investments of $920,567. year The Sewerage Fund recorded a net loss of $92,383 for 2000 and ended the year with cash and I investments of $436,281. i Finally, the Commuter Parking Lot Fund recorded net income of $46,050 for 2000 and ended the year with cash and investments of $719,617. Of the cash and investment total, $500,000 is a grant from METRA to be used for the construction of the new train station at The Glen. I Employee Pensions Police sworn personnel are covered by the Police Pension Fund and sworn firefighters are covered I by the Firefighters' Pension Fund. Both of these plans are defined benefit, single-employer plans administered by local boards of trustees. The benefits and employer and employee contributions are governed by state statutes. I During 2000, the Village retained the services of independent actuary to perform an actuarial valuation on the police and firefighter pension plans as of December 31, 1999. Following is I information for the funds: suuullary two I Police Fh'efighters' Pension Fund Pension Fund i Actuarial Accrued Liability - 12/31/99 $25,769,884 $34,999,514 Value of Plan Assets - 12/31/99 $25,629,270 $36,747,302 Percent Funded - 12/31/99 99.45 % 104.99 % i Change in Net Assets FYE 12/31/00 $3,527,905 $3,419,586 Value of Net Assets - 12/31/00 $29,157,175 $40,166,889 I In 1993 the State of Illinois increased the benefits provided to police and firefighter pension fund beneficiaries. The changes increased the pension benefit obligation of both funds, but especially that of the police pension fund where a provision was made to compound annual increases in I pension benefits. Municipalities have until the year 2033 to fully fund their police and firefighter pension plans. The increase in asset value can be attributed to the net appreciation in fair value of investments in the Pension Trust Funds. The decrease was particularly reflective of the I reduction in market value of the long term Treasury zero Bonds held in both funds. The coupon purpose of "marking to market" is to show the value of a fund at a given point in time. Practically however, as these funds do not have cash flow problems which would require I liquidating positions, these losses are only for reporting purposes. I -x± - I I All other employees of the Village who work at least 1,000 hours per year are covered by the I Illinois Municipal Retirement Fund, ('IMRF") a state-wide pension plan. IMRF acts as the administrative agent for local governments in Illinois. Benefit provisions and funding 1 requirements are established by state statute. At December 31, 2000 the Village was 112.33 % funded in IMRF. Debt Administration I In December, 1999 the Village issued $4,970,000 of general obligation debt for various infrastructure improvements throughout the Village. At that time, Moody's Investors Service l affu-med the Village's Aaa general obligation bond rating assigned in 1993. At December 31, 2000 the Village bad $62,930,000 of general obligation bonds outstanding. Of l this amount, $55,090,000 is reflected in the general long-term debt account group and $7,840,000 is recorded directly in three enterprise funds. There was also $2,615,192 of general obligation notes outstanding at December 31, 2000. At December 31, 2000 there was $2,431,244 available in the various debt service funds for the I payment of principal and interest, resulting in a net bondeddebt of $52,658,756. Theratio of net bonded debt to assessed value and the amount of net bonded debt per capita are useful indicators of a municipality's debt position. This data as of December 31, 1999 is as follows: 1 Net General Obligation Debt $52,658,756 Ratio of Net Debt to Assessed Value 4.13 % Ratio of Net Debt to Actual Value 1.38 % Net Debt Per Capita $1,258 ! Additional information about the Village's outstanding debt can be found in the notes to the · financial statements and the statistical section of this report. I Property Tax Information · The county assessors' offices arc responsible for determining thc assessed value of real property utilizing market values and established assessment ratios in Illinois. The State of Illinois then assigns an equalization factor to each county in an attempt to get all properties in the state assessed at approximately 33 % of market value. Property taxes are based upon the equalized assessed value (EAV) of all taxable properties. A government' s tax rate is determined by dividing its tax levy into its total EAV, adjusting for any rate limitations which might be applicable. I At the time this report was prepared, information regarding the tax rates and assessed values for the 2000 tax levy year were not yet available. The Village's 1999 total equalized assessed valuation was $1,243,991,673, a 7.2% increase from the 1998 levy year. The Village's and the Library-component unit's combined tax rate increased from $0.9251 for 1998 to $0.9464 for · 1999. While the rate for the Library decreased from $0.2684 to $0.2628 as the Library did not 1 -xii- I I I I increase its levy amount, the Village's levy increased from $0.6567 to $0.6836 as the Village decided to increase its investment in infrastructure improvements by $600,000. I Following is a summary of the Village's tax rates for the past three years: I Fund 1999 1998 1997 I General Fund $ .4513 $ .4092 $.4572 i Special Revenue Funds .0439 .0484 .0554 Debt Service Funds .1526 .1529 .1663 i Pension Trust Funds .0358 .0462 .0555 Subtotal - Village .6836 .6567 .7344 I Library .2628 .2684 .3036 Total Combined Tax Rate $.9464 $.9251 $1.0380 I Additional information regarding the Village's tax rates, assessed values and tax collections can I be found in the statistical section of this report. I Cash Management i The Village's policy regarding cash management is based upon the realization that there is a time value to money. A high priority is placed on procedures to ensure that monies due the Village are collected and deposited as promptly as possible. Disbursements are closely controlled. I Of equal importance is the emphasis on the management of the Village's investment portfolio. All idle cash is invested in accordance with an established investment policy. The investment I policy establishes safety of principal as the foremost objective. The policy provides for full collateralization of all deposits in excess of FDIC limits. The Village is not permitted to leverage its portfolio or invest in risky derivatives. Ail of the Village's Deposits and Investments are I "Category 1" meaning that all Deposits are covered by federal depository insurance, or by collateral held by the Village, or its agent, in the Village's name and all Investments are insured or registered or are held by the Village, or its agent, in the Village's name. ! I I -xiii - I Following is a summary of total investment earnings and weighted average yields for each of the I various fund types: I Investment Income 1 Year Ended Fund Type 12/31/00 Average Yield General Fund $ 665,382 6.24% l Special Revenue Funds 91,003 5.98 Debt Service Funds 275,904 5.29 · Capital Project Funds 5,021,621 6.04 I Enterprise Funds 283,645 5.92 Internal Service Funds 129,888 6.21 I Expendable Trust Funds 226,099 6.16 Totals $6,693,542 6.22 % I Risk Management I The Village maintains a protected risk retention program for property, casualty, and workersI compensation claims. Health insurance for employees and retirees is provided through a public entity risk pool. Aggregate umbrella liability coverage is provided through the Village's [] membership in the High-level Excess Liability Pool, another public entity risk pool. 1 The Village's insurance activity is accounted for in an internal service fund. For the year ended · December 31, 2000 the Insurance Fund reported a net loss of $113,749. Retained earnings at · December 31, 2000 amounted to $3,733,331. I Other Information Independent Audit I State statutes require an annual audit by independent certified public accountants. The accounting 1 firm of Crowe, Chizek and Company LLP performed the audit on the Village's 2000 financial statements. The independent auditors' report is included in the financial section of this report. · The auditors have given this report an unqualified opinion, meaning that the financial statements 1 fairly present the Village's financial position at December 31, 2000, and the results of operations for the year then ended.1 1 I I I Awards The Government Finance Officers Association of the United States and Canada (GFOA) awarded I a Certificate of Achievement for Excellence in Financial Reporting to the Village of Glenview for its comprehensive annual financial report (CAFR) for the fiscal year ended December 31, 1999. The Certificate of Achievement is a prestigious national award recognizing conformance with the I highest preparation of state and local government financial reports. standards for i In order to be awarded a Certificate of Achievement, a government must publish an easily readable and efficiently organized comprehensive annual financial report, whose contents conform to program standards. The CAFR must satisfy both generally accepted accounting principles and I applicable legal requirements. A Certificate of Achievement is valid for a period of one year only. The Village of Glenview has I received a Certificate of Achievement for the last eighteen consecutive years (fiscal years ended 1982-1999). We believe our current report continues to conform to the Certificate of Achievement program requirements, and will be submitting it to GFOA. I Acknowledgments I comprehensive report on a timely basis was made possible The preparation of the annual f'mancial by the dedicated service of the entire staff of the Finance Department. Each member of the I Department has my sincere appreciation for the contributions made in the preparation of this report. In particular, I would like to acknowledge the excellent work of Harry Sakai, Assistant Finance Director, for his efforts in compiling the mountain of data necessary to complete this i report. Finally, appreciation is expressed to the Village President and Board of Trustees and the Village I Manager for their leadership and support in planning and conducting the fiscal affairs of the Village in a responsible manner. I Respectfully submitted, I ~1 ~Da~iel P Wiersma i Director of Finance I I I I I I I I I I I I I I I I I I I I REPORT OF INDEPENDENT AUDITORS I I I I I I I I I I I I I I I I I I I CROWE CHIZEK REPORT OF INDEPENDENT AUDITORS The Honorable Village President Members of the Board of Trustees Village of Glenview, Illinois We have audited the accompanying general purpose financial statements and the combining, individual fund, and account group financial statements of the Village of Glenview, Illinois, as of and for the year ended December 31, 2000, as listed in the accompanying table of contents, and the general fund balance sheet as of December 31, 1999, and the related statement of revenues, expenditures, and changes in fund balance for the year ended December 31, 1999. These financial statements are the responsibility of the Village of Glenview, Illinois' management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, the general purpose financial statements referred to above present fairly, in all material respects, the financial position of the Village of Glenview, Illinois, as of December 31, 2000, and the results of its operations and the cash flows of its proprietary fund types for the year then ended in conforrtfity with generally accepted accounting principles. Also, in our opinion, the combining, individual fund, and account group financial statements referred to above present fairly, in all material respects, the financial position of each of the individual funds and account groups of the Village of Glenview, Illinois, as of December 31, 2000, 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, 1999, and the results of operations of the General Fund for the year then ended, in conformity with generally accepted accounting principles. I I I I I I I I I ! I I I I I I I I I Our audit was made for the purpose of forming an opinion on the general purpose financial statements taken as a whole and on the combining, individual fund, and account group financial statements. The accompanying financial information Hsted as supplemental and schedules in the accompanying table of contents and the analysis of funding progress and employer contribution information on pages 44 to 49 is presented for purposes of additional analysis and is not a required part of the financial statements of the Village of Glenview, Illinois. Such irrformation has been subjected to the auditZng 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 Lrfformation listed in the table of contents was not audited by us, and accordingly, we do not express an opinion thereon. Crowe, Chizek and Company LLP Oak Brook, Illinois May 9, 2001 I I I ! I I I i I I I I I I I I I I I VILLAGE OF GLENVIEW, ILLINOIS Ail Fund Types and Account Groups and Discretely Presented Component Unit Combined Balance Sheet December 31, 2000 (See Following Page) VILLAGE OF GLENVIEW, ILLINOIS All Proprietary Fund Types Combined Statement of Revenues, Expenses, and Changes in Retained Earnings Year Ended December 31, 2000 · (with comparative totals for 1999) I Proprietary Fund TTpes Totals Internal (Memorandum Only) 1 Enterprise Service 2000 1999 Operal~ng revenues I Charges for services $ 13,996,915 $ 3,739,257 $ 17,736,172 $ 17,847,829 Miscellaneous 225,184 330~114 555~298 569,765 Total operating revenues 14,222,099 4,069,371 18,291,470 18,417,594 Operating expenses Administration 820,199 820,199 664,600 · Operations 8,908,541 4,220,264 13,128,805 11,629,652 Depreciation and amortization 1,031,276 1,031,276 983,138 Total operating expenses 10,760,016 4,220,264 14,980,280 13,277,390 Operating income (loss) 3,462,083 (150,893) 3,311,190 5,140,204 Nonoperating revenues (expenses) Interest income 283,645 129,888 413,533 357,578 Interest expense and fiscal charges (569,976) (569,976) (606,320) (286,331) 129,888 (156,443) (248,742) Income (loss) before operating transfers 3,175,752 (21,005) 3,154,747 4,891,462 1 Operating transfers in 340,000 340,000 1,070,783 Operating transfers (out) (3,861,034) (11,600) (3,872,634) (2,742,310) (3,521,034) (11,600) (3,532,634) (1,671,527) Net income (loss) (345,282) (32,605) (377,887) 3,219,935 Retained earnings January I 21,360,834 3,991,534 25,352,368 22,132,433 · December 31 $ 21,015,5 $ 3,958,92~9 $ 24,974,481 $ 25,352,368 1 See accompanying notes to financial statements. 6 I VILLAGE OF GLENVIEW, ILLINOIS All Pension Trust Funds Combined Statement of Changes in Plan Net Assets Year Ended December 31, 2000 (with comparative totals for 1999) Police Fire fighters' Totals Pension Pension 2000 1999 Additions Contributions - employer Taxes $ 427,409 $ 173,790 $ 601,199 $ 544,684 Contributions - plan members 386,898 398,513 785,411 733,298 Investment income Net appreciation (depreciation) in fair value of investments 3,050,660 1,705,784 4,756,444 (2,799,925) Interest earned on investments 536,772 2,230,711 2,767,483 545,095 Total additions 4,401,739 4,508,798 8,910,537 (976,848) Deductions Pensions and refunds 869,740 1,079,533 1,949,273 1,736,002 Miscellaneous Contractual professional services 4,094 9,679 13,773 9,702 Total deductions 873,834 1,089,212 1,963,046 1,745,704 Net increase (decrease) 3,527,905 3,419,586 6,947,491 (2,722,552) Net assets held in trust for pension benefits January 1 25,629,270 36,747,303 62,376,573 65,099,125 December 31 $ 29,157,175 $ 40,166,889 $ 69,324,___~_._~ $ 62,376,57~3 See accompanying notes to financial statements. 7 VILLAGE OF GLENVIEW, ILLINOIS I All Proprietary Fund Types Combined Statement of Cash Flows ~ Year Ended December 31, 2000 (with comparative totals for 1999) I Internal (Memorandum Only) ~ Advance from other {tmcls (408,156) {408,156) (68,186) Operating ~ravsfer$ (out) {3,861,034) 01,600) (3,872,634} (2,742,310) (3,521,034) (11,600) {3,532,634) (1,671,527) · Principal paid on general ~ obligation bonds (568,298) (568,298) (604,720) (1,062,538) (1,062,538) (3,094,902) 1,922,288 (14,395) 1,907,893 (4,386,943) See accompanying notes to financial statements, l 8 1 VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 2000 NOTE ! - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The financial statements of the Village of Glenview, Illinois (Government) have been prepared in conformity with generally accepted accounting principles (GAAP) as applied to government units. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for establishkng governmental accounting and financial reporting principles. The more significant of the Government's accounting policies are described below. Reporting Entity: The Government a municipal corporation governed by an seven- is elected member board. As required by generally accepted accounting principles, these financial statements present the Government (the primary government) and its component units. The Government's financial statements include pension trust funds: Police Pension Employees Retirement System The Government's police employees participate in the Police Pension Employees Retirement System (PPERS). PPERS functions for the benefit of these employees and is governed by a five-member pension board consisting of two members appointed by the Government's President, one elected pension beneficiary, and two elected police. 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. The PPERS is reported as a pension trust fund. Firefighters' Pension Employees Retirement System The Government's firefighters participate in the Firefighters' Pension Employees Retirement System (FPERS). FPERS functions for the benefit of these employees and is governed by a nine-member pension board consisting of the Government's President, Treasurer, Clerk, Attorney, and Fire Chief; one elected pension beneficiary; and three elected fire employees. 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 possesses many of the characteristics of a legally separate government, reported as were part primary government the FPERS if it of the because its sole purpose is to finance and administer the pensions of the Government's fire fighters and because of the fiduciary nature of such activities. The FPERS is reported as a pension hmst fund. (Continued) VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 2000 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Basis of Accounting:. (Continued) All proprietary f~Lnds and pension trust funds are accounted for on a flow of economic resources measurement focus. With this measurement focus, all assets and all liabilities associated with the operation of these funds are included on the balance sheet. Proprietary fund-type fund equity (i.e., net total assets) is segregated into contributed capital and retained earnings components. Proprietary fund-type operating statements present increases (i.e., revenues) and decreases (i.e., expenses) in net total assets. The modified accrual basis of accounting is used by all governmental fund types, expendable trust funds, and agency funds. Under the modified accrual basis of accounting, revenues are recognized when susceptible to accrual (i.e., when they become both measurable and available). "Measurable" means the amount of the transaction can be determined and "available" means collectible within the current period. The Government recognizes property taxes when they become both measurable and available in accordance with GASB Codification Section P70. A one-year availability period is used for revenue recognition for all other governmental fund revenues. Expenditures are recorded when the related fund liability is incurred. Principal and interest on general long-term debt are recorded as fund liabilities when due or when amounts have been accumulated in the debt service fund for payments to be made early in the following year. Those revenues susceptible to accrual are property taxes, franchise taxes, licenses, interest revenue, and charges for services. Sales, income, and motor fuel taxes and fines collected and held by the state at year end on behalf of the Government also are recognized as revenue. Permit revenues are not susceptible to accrual because, generally, they are not measurable until received in cash. accrual basis of accounting is utilized by proprietary fund types, pension trust funds, and The nonexpendable trust funds. Under this method, revenues are recorded when earned and expenses are recorded at the time liabilities are incurred. The Government reports deferred revenue on its combined balance sheet. Deferred revenues arise when a potential revenue does not meet both the "measurable" and "available" criteria for recognition in the current period. Deferred revenues also arise when resources are received by the Government before it has a legal claim to them, as when grant monies are received prior to the incurrence of qualifying expenditures. Lr~ subsequent periods, when both revenue recognition criteria are met or when the Government has a legal claim to the resources, the liability for deferred revenue is removed from the combined balance sheet and revenue is recognized. (Continued) VILLAGE OF GLEN-VIEW, ILLINOIS Notes to Financial Statements December 31, 2000 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 (except the Special Tax Allocation Fund), Debt Service, and Capital Projects Funds (except the 2000 Project Fund) on the modified accrual basis and for the Enterprise, Internal Service, and Pension Trust Funds on the accrual basis. The annual appropriated budget is legally enacted and provides for a legal level of control at the fund level. All annual appropriations lapse at fiscal year end. During the current year, budgets were not adopted for the following funds: Special Revenue Funds: Special Tax Allocation Fund Capital Projects Funds: 2000 Project Fund The source of revenue and nature of expenditures for these funds are not subject to prediction, and therefore, budgets were not adopted. Budget and actual comparisons for the Capital Projects Funds exclude the aforement/oned funds. The following is a reconciliation of the Capital Projects and Special Revenue Funds presented on a budgetary basis to the GAAP basis presentation: Capital Special Projects Revenue Funds Funds Fund Balances - Budgeted Funds, at December 31, 2000 Non-GAAP Basis $ 102,780,818 $ 2,242,647 Nonbudgeted Fund Balances Special Tax Allocation 3,477 2000 Project 4,892,418 4,892,418 3,477 Fund Balances, at December 31, 2000 GAAP Basis ~ ~ (Continued) VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 2000 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Budgets: (Continued) The Government does not record encumbrances. Cash and Investments: For purposes of the statement of cash flows, the Government's proprietary fund types consider all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Investments: In accordance with Government Accounting Standard Board Statement No. 31, all investments are stated at fair value. Short-Term Interfund Receivables/Payables: During the course of operations, numerous transactions occur between individual funds for goods provided or services rendered. These receivables and payables are classified as "due from other funds" or "due to other funds" on the balance sheet. Short-term interfund loans, if any, are classified as "interfund receivables/payables." Inventories: Inventories are valued at cost, which approximates market, using the first- In/first-out (FIFO) method. The costs of governmental fund-type inventories are recorded as expenditures when consumed rather than when purchased. Prepaid Items/Expenses: Payments made to vendors for services that will benefit periods beyond the date of this report are recorded as prepaid items/expenses. Fixed Assets: General fixed assets are not capitalized in the funds used to acquire or construct them. Instead, capital acquisition and construction are reflected as expenditures in governmental funds, and the related assets are reported in the general fixed assets account group. All purchased fixed assets are valued at cost where historical records are available and at an estimated historical cost where no historical records exist. Donated fixed assets are valued at their estimated fair value on the date received. The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend asset lives are not capitalized. Improvements are 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 gutters, streets and sidewalks, drainage systems, and lighting systems are not capitalized, as these assets are immovable and of value only to the Government. (Continued) 14 VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 2000 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Fixed Assets: (Continued) Assets in the general fixed assets account group are not depreciated. Depreciation of buildings, equipment, water/sewer systems, and vehicles in the proprietary fund types is computed using the straight-line method. Interest is capitalized on proprietary fund assets acquired with tax-exempt debt. The amount of interest to be capitalized is calculated by offsetting interest expense incurred from the date of the borrowing until completion of the project with interest earned on invested proceeds over the same period. Compensated Absences: Vested or accumulated vacation leave that is expected to be liquidated with expendable available financial resources is reported as an expenditure and a fund liability of the governmental fund that will pay it. Vested or accumulated vacation leave of proprietary funds is recorded as an expense and liability of those funds as the benefits accrue to employees. Long-Term Obligations: Long-term debt is recogrfized as a liability of a governmental fund when due or when resources have been accumulated in the debt service fund for payment early in the following year. For other long-term obligations, only that portion expected to be financed from expendable available financial resources is reported as a fund liability of a governmental fund. The remai~xing 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 funds that have received proprietary 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 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. (Continued) 15 VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 2000 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Interfund Transactions: Quasi-external transactions are accounted for as revenues, expenditures, or expenses. Transactions that constitute reimbursements to a fund for expenditures/expenses 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. 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. Interftmd eliminations have not been made in the aggregation of this data. Comparative Data: Comparative total data for the prior year have been presented in selected sections of the accompanying financial statements in order to provide an understanding of changes in the Government's financial position, operations, and cash flows. There have been some reclassifications between individual lines in the prior year columns in order to present more comparable data. GASB Pronouncements: The Government has elected, under the provisions of GASB Statement 20, titled "Accounting and Financial Reporting for Proprietary Funds and Other Governmental Entities That Use Proprietary Fund Accounting," to apply all applicable GASB pronouncements and all FASB Statements and Interpretations, Accounting Principles Board (APB) Opinions, and Accounting Research Bulletins (ARB) issued on or before November 30, 1989, unless they conflict with or contradict GASB pronouncements. NOTE 2 - LEGAL COMPLIANCE AND ACCOUNTABILITY Budgets: All depm'tments of the Government submit requests for appropriation to the Government's manager so that a budget may be prepared. The budget is prepared by fund and includes information onthe past year, current year estimates, and requested appropriations for the next fiscal year. (Continued) 16 VILLAGE OF GLENVIEW', ILLINOIS Notes to Financial Statements December 31, 2000 NOTE 2 - LEGAL COMPLIANCE AND ACCOUNTABILITY (Continued) Budgets: (Continued) The proposed budget is presented to the governing body for review. The governing body holds public hearings and may add to, subtract from, or change appropriations, but may not change the form of the budget. The manager is authorized to transfer budgeted amounts between departments within any fund; however, any revisions that alter the total expenditures of any fund must be approved by the governing body. Expenditures may not legally exceed budgeted appropriations at the fund level. During the year, a supplementary appropriation was necessary. Deficit Fund Balances of Individual Funds: The following funds had a deficit in fund balance/retained earnings as of the date of this report: ~und .Deficit Balanco North Maine Water and Sewer $ 421,839 Corporate Purpose Bond Series of 2000 800 Excess of Actual Expenditures/Expenses Over Budget in Individual Funds: The following funds had an excess of actual expenditures/expenses (exclusive of depreciation and amortization) over budget for the fiscal year: Fund. Excess Illinois Municipal Retirement $ 15,007 Corporate Purpose Bond Series of 2000 Glen Land Sales 800 2000 Project 1,340,085 Wholesale Water 78,340 Municipal Equipment Repair 45,819 Insurance 69,033 343,245 NOTE 3 - DEPOSITS AND INVESTMENTS The Government maintains a cash and investmen~ pool that is available for use by all funds, except the pension trust funds. Each fund type's portion of this pool is displayed on the combined balance sheet as "cash and investments." In addition, investments are separately held by several of the Government's funds. The deposits and investments of the pension trust funds are held separately from those of other funds. Cash on hand of $4,332 for the primary government and $950 for the component unit has been excluded from the amounts shown below. (Continued) 17 VILLAGE OF GLEN'VIEW, ILLINOIS Notes to Financial Statements December 31, 2000 NOTE 3 - DEPOSITS AND INVESTMENTS (Continued) Investments: (Continued) The pension trust funds own 4 percent of the investments in Category 1. Component Unit -- -- Category _ ! _2 _3 Totals Corporate bonds $ 865,522 $ $ $ 965,522 U.S. Agency securities 500~000 500,000 ~ ~ $ ~ 1,465,522 *# The Illinois Funds 68,593 Total inveslmaents * Not subject to risk categorization #The fait value of the position in the extemal pool is the same as the value of the pool shares and it is SEC registered. NOTE 4 - RECEIVABLES -TAXES Property taxes for 2000 attach as an enforceable lien on January 1, 2000 on property values assessed as of the same date. Taxes are lev/ed 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, 2000 and August 1, 2000 and are payable in two installments, on or about March 1, 2000 and September 1, 2000. 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) 20 VILLAGE OF GLEN'VIEW, ILLINOIS Notes to Financial Statements December 31, 2000 NOTE 5 - FIXED ASSETS General Fixed Assets Account Group: The following is a summary of changes in the general fixed assets account group during the fiscal year: Balances Balances Primary_ Government lanuary 1 Additions Retirements December 31 Land $ 5,005,095 $ 638,758 $ $ 5,643,853 Buildings and improvements 10,089,432 71,538 10,160,970 Equipment 8,522,213 814,823 688,372 8,648,664 Furniture 295,072 295,072 Office equipment 677,101 12,149 689,250 $ 24.588.913 $ 1.537.268 $ 688,372 $ 25.437.809 Discretely Presented Balances Balances Component Unit - Library ~anuary 1 Additions Retirements December 31 Land $ 500,000 $ $ $ 500,000 Buildings and improvements 4,125,488 4,125,488 Furniture and equipment 856,234 14,044 870,278 $ 5,481.722 $ 14.044 $ $ 5.495.766 Proprietary Fixed Assets: The following is a summary of proprietary fund-type fixed assets as of the date of this report: Enterprise Funds Land and improvements $ 302,851 Buildings 243,645 Building improvements 203,309 Water/sewer systems 35,636,880 Equipment and vehicles 2,741,595 Office furniture and equipment 18,672 39,146,952 Accumulated depreciation (11,972,967) $ 27.173.985 (Continued) 21 VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 2000 NOTE 5 - FIXED ASSETS (Continued) In proprietary funds, the following estimated useful lives are used to compute depreciation: Building 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 is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors and omissions; injuries to employees; illnesses of employees; and natural disasters. The Government is serf-insured for all risks and has estabhshed a risk- financing fund, Insurance Fund (Fund), for all risks. It is accounted for as an internal service fund where assets are set aside for claim settlements. Under this program, the Fund provides coverage up to a maximum of $1,000,000 for each general liability claim, $50,000 for each workers' compensation claim, and $50,000 for each property damage claim. The Goverrrment purchases commercial insurance for claims in excess of the coverages provided by the Fund. Settled claims have not exceeded this commercial coverage in any of the past three fiscal years. All funds of the Government participate and make payments to the Fund based upon actuarial estimates of the amounts needed to pay prior- and current-year claims. Liabilities of the Fund are reported when it is probable that a loss has occurred and the amount of the loss can be reasonably estimated. Liabilities include an amount for claims that have been incurred but not reported (IBNR). Claim liabilities are calculated considering the effects of inflation, recent claim settlement trends including frequency and amount of payouts, and other economic and societal factors. Changes in the balances of claims liabilities during the past two fiscal years are as follows: Fiscal Year Ended December 31 2000 1999 Unpaid claims - beginn~g $ 203,095 $ 218,650 Incurred claims (including IBNR) 93,869 49,000 Claim payments (27,342) (64,555) Unpaid claims - ending $ 269,622 $ 203.095 (Continued) VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 2000 NOTE 6 - RISK MANAGEMENT (Continued) Intergovernmental Personnel Benefit Cooperative (IPBC) The Goverrmaent participates in the Intergovernmental Personnel Benefit Cooperative (IPBC). IPBC is a public entity risk pool estabEshed by certain units of local govermnent in Illinois to administer some or all of the personnel benefit programs (primarily medical, dental, and life insurance coverage) offered by its members to their officers and employees and to the officers and employees of certaIn other governmental, quasi-governmental, and nonprofit public service entities. Risk of loss is retained by the Government, except that IPBC purchases excess coverage policies. Management consists of a Board of Directors comprised of one appoInted representative from each member. In addition, there are three officers, a Benefit Administrator, and a Treasurer. The Government does not exercise any control over achvities of IPBC beyond its representation on the Board of Directors. High-Level Excess Liability Pool (HELP) The Government participates in the High-Level Excess Liability Pool (HELP). HELP is a public entity risk pool established by certain municipalities In Illinois to provide excess liability coverage ($10,000,000 of coverage after a $1,000,000 serf-insurance retention). The Government's payments to HELP are displayed on the financial statements as expenditures/expenses in appropriate funds. HELP was organized on April 1, 1987. The purpose of HELP is to act as a joint self-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 bylaws, rules, and regulations; and exercises such powers and performs such duties as may be prescribed in the Agency Agreement or the bylaws. The Government does not exercise any control over the activities of HELP beyond its representation on the Board of Directors. (Continued) VILLAGE OF GLENVIEIW, ILLINOIS I Notes to Financial Statements December 31, 2000 NOTE 7 - LEASE OBLIGATIONS I No material capital or operating leases were in effect as of the date of this report. NOTE 8 - LONG-TERM DEBT in Long-Term Liabilities: During the fiscal year, the following changes occurred in Changes liabilities reported in the long-term debt for General Obligation Bonds: Balances Balances I lanuary_ 1 Additions Reductions December 31 Enterprise Funds $ 8,170,000 $ $ 330,000 $ 7,840,000 · General Long-Term Debt Account Group 52,810,000 4,970,000 2,690,000 55,090,000 $ 60.980,000 $ 4,970,000 $ 3,000,000 $ 62,930.000 1 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 1 Issue Retired Bv lanuary 1 Additions Reductions December 31 $2,895,000 Corporate Purpose am Bonds Series of 1992 dated April 1, 1992, due in annual installments of $10,000 to $255,000 plus interest at 4.00% to Whole- 5.90% through December 1, sale 2012. Water $ 2,295,000 $ $ 120,000 $ 2,175,000 $7,635,000 Corporate Purpose Bonds Series of 1993 dated May · 1, 1993, due in annual installments of $205,000 to $1,345,000 plus interest at 4.60% to 4.70% through December 1, Debt · 2005. Service 5,765,000 610,000 5,155,000 $8,040,000 Corporate Purpose Bond Series of 1994 dated · September 15, 1994, due in annual installments of $90,000 to $1,275,000 plus interest at 4.00% to 5.10% through December 1, Debt · 2004. Service 4,785,000 1,275,000 3,510,000 · (Continued) I 24 ! VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 2000 NOTE 8 - LONG-TERM DEBT (Continued) General Obligation Bonds: (Continued) Fund Debt Balances Balances Issue Retired By |anuary 1 Additions Reductions December 31 $500,000 Corporate Purpose Bond Series of 1995 dated October 17, 1995, due in annual installments of $100,000 plus interest at 3.55% to 4.20% Debt through December 31, 2000. Service $ I00,000 $ $ 100,000 $ $8,345,000 Corporate Purpose Bond Series ot 1996 dated November 1, 1996, due in annual installments of $675,000 to $1,050,000 plus interest at 4.60% to 4.875% through December 1, Debt 2008. Service 7,760,000 705,000 7,055,000 $6,175,000 Corporate Purpose Bond Series of 1997 dated August 1, 1997, due in annual North installments of $100,000 to Maine $495,000 plus interest at 4.875% Water to 5.00% through December 1, and 2017. Sewer 5,875,000 210,000 5,665,000 $40,000,000 General Obligation Bond Series of 1998A dated November 1, 1998, due in annual insJallments of $695,000 to $1,875,000 plus interest at 4.10% to 4.35% through December 1, Debt 2018. Service 10,000,000 10,000,000 $24,400,000 General Obligation Bond Series of 1998B dated January 1, 1999, due in annual installments of $1,000,000 to $2,050,000 plus interest at 4.25% to 4.50% through December 1, Debt 2018. Service 24,400,000 24,400,000 $4,970,000 General Obligation Bond Series of 2000 dated December 15, 2000, due in annual installments of $345,000 to $1,875,000 plus interest at 4.30% to 4.5% through Debt December 1, 2008. Service 4~970~000 4~970t000 $ 60,980,000 $ 4.970.000 $ 3.020.000 $ 62.930.000 (Continued) VILLAGE OF GLEN'VIEW, ILLINOIS Notes to Financial Statements December 31, 2000 NOTE 8 - LONG-TERM DEBT (Continued) Notes Payable: The Government enters into notes payable to provide funds for the acquisition capital assets. Notes payable have been issued for proprietary activities. The proprietary liabilities are therefore reported in the proprietary funds. Note payable currently outstanding is as follows: Fund Debt Balances Balances Retired By |anuary 1 Additions Reductiom December 31 $2,850,000 Corporate Purpose of 1997 dated September 2, North due in mmual installments of Maine $215,377. Interest paid at 4.942% Water through September 1, 2019. and Sewer $ 2.697.270 $ $ 82.078 $ 2.615.192 Debt Service Requirements to Maturity Annual debt service requirements to maturity are as follows: General Corporate Obligation Purpose General Bonds Camed Notes Camed Fiscal Obligation as Enterprise as Fa~terprise Year Bonds Fund Liabilities Fund Liabilities Totals 2001 $ 5,048,503 $ 759,476 $ 215,377 $ 6,023,356 2002 6,463,692 756,494 215,377 7,435,563 2003 6,128,640 767,596 215,377 7,111,613 2004 6,132,105 761,906 215,377 7,109,388 2005 5,924,155 760,268 215,377 6,899,800 2006 5,930,101 762,352 215,377 6,907,830 2007 5,988,987 762,896 215,377 6,967,260 2008 5,038,696 766,966 215,377 6,021,039 2009 2,894,195 769,326 215,377 3,878,898 2010 2,896,915 769,866 215,377 3,882,158 2011 2,903,940 768,772 215,377 3,888,089 2012 2,906,690 775,956 215,377 3,898,023 2013 2,917,945 505,750 215,377 3,639,072 2014 2,931,070 511,000 215,377 3,657,447 2015 2,948,950 510,000 215,377 3,674,327 2016 2,966,050 513,000 215,377 3,694,427 2017 2,982,035 519,750 215,377 3,717,162 2018 3,001,564 215,377 3,216,941 2019 215,377 215t377 Total principalandinterest $ 76,004.233 $ 11.741.374 $ 4.092,163 $ 91.837.770 Interest portion $ 20.914,233 $ 3.901.374 $ 1,476.964 $ 26,292,5T1 (Continued) 26 VILLAGE OF GLENVIEW, ILLINOIS Notes to Finandal Statements December 31, 2000 NOTE 8 - LONG-TERM DEBT (Continued) Legal Debt Margin The Government is a home rule municipality. Article VII, Section 6(k) of the 1970 Illinois Constitution governs computation of the legal debt r gin. "The General Assembly may limit by law the mount and require referendum approval of debt to be incurred by home rule municipalities, payable from ad valorem property tax receipts, only in excess of the following percentages of the assessed value of its taxable property... (2) ff its population is more than 25,000 and less than 500,000 an aggregate of one percent: ~.. indebtedness which is outstanding on the effective date (July 1, 1971) of this constitution or which is thereafter approved by referendum.., shall not be included in the foregoing percentage mounts." To date, the General Assembly has set no limits for home rule municipalities. Advance Refunding - General Obligation Refunding Bonds, Series 1994 On August 30, 1994, the Government passed an ordinance providing for the issuance of $8,040,000 General Obligation Refunding Bond Series of 1994 and the levy and collection of a direct annual tax for the payment of principal and interest on the bonds. On August 30, 1994, the Government passed an ordinance directing the execution of an escrow agreement in order to partially refund $5,025,000 of General Obligation Bond Series of 1989 and $2,525,000 of General Obligation Bond Series of 1990 issued by the Government and outstanding in the aggregate principal amount of $6,625,000 and $4,000,000, respectively. This advance refunding was undertaken to reduce total debt service payments over the next eleven years by $322,463 and to obtain an economic gain (difference between the present value of the debt service payments of the refunded and refunding bonds) of $259,324. amount of $7,988,866 from the refunding bonds were used to execute the Proceeds the escrow agreement. The long-term debt is recorded in the General Long-Term Debt Account Group. Current principal and interest requirements are accounted for in the Debt Service Fund. Although there has been no legal defeasance (satisfaction of debt) in this transaction, all conditions that normally satisfy defeasance of the partial refund of the $5,025,000 of General $2,525,000 of General Obligation Bond Series of 1990 have Obligation Bond Series of 1989 and been met. (Continued) 27 VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 2000 NOTE 8 - LONG-TERM DEBT (Continued) Advance Refunding - General Obligation Refunding Bonds, Series 1994 (Continued) Those provisions include: Proceeds of the new debt have been placed in an irrevocable trust with a reputable trustee for the primary purpose of satisfying old debt at a specified future date. An escrow agreement has been entered into with American National Bank and Trust Company of Chicago. The proceeds of the new debt are invested in direct U.S. Treasury obligations with maturities that approximate the debt service requirements of the original issue. The proceeds in escrow are not subject to lien for any purpose other than in connection with the advance refunding transaction. Since the requirements that 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 Corporate Purpose Corporate Purpose Fiscal Year --- Bond Series of 1989 ....... Bond Series of 1990 --- Ending Interest Interest December 31 Rate Principal Rate Principal 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 $ 2.325.000 $ 1.175.000 Noncommitment Debt Special Service Area Bonds: Special service area bonds outstanding as of the date of this report totaled $953,816. These bonds are not an obligation of the Government and are secured by the levy of special service on the real property within the special service area. The Government is in no way liable for repayment but is only acting as the agent for the property owners in levying and collecting the assessments and forwarding the collections to the bondholders. (Continued) 28 VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 2000 NOTE 8 - LONG-TERM DEBT (Continued) Industrial Development Revenue Bonds: The Government qualifies as a Home Rule Unit under Section 6(a) of Article VII of the 1970 Constitution of Illinois and, under the powers granted by this Section, can exercise any power and perform any function pertaining to its government and affairs that is not prohibited by the Illinois State Statutes. The issuance of Industrial Development Revenue Bonds by the Government is to finance in whole or in part the cost of the acquisition, purchase, construction, reconstruction, improvement, equipping, betterment, or extension of any economic development project in order to encourage economic development within or near the Government. Industrial Development Revenues Bonds are not a debt of the Government. The entity using the bond proceeds to finance a construction or improvement project is liable for the bonds. not act as an agent Development Revenue Bonds, the Since the Government does for Industrial transactions relating to the bonds and property do not appear In the Government's financial statements. The Government has authorized the issuance of the following such bonds: Baxter, L.L.C. Under authority of Ordinance No. 3909, dated October 21, 1997, the Village refinanced $9,770,000 of Industrial Development Bonds dated as of November 1, 1997, at 5.25 percent interest. Final payment date of the bonds is December 1, 2027. Bond proceeds were issued to refinance previously issued Industrial Development Bonds from 1985. The initial bonds were issued to fund the completion of a multi-family housing project titled Valley Lo Towers II. NOTE 9 - CONTRACTUAL COMMITMENTS High-Level Excess Liability Pool (HELP) The Government has committed to purchase excess liability insurance from the High-Level Excess Liability Pool (HELP), a public entity risk pool for certain Illinois municipalities through April 30, 2008. These amounts have been calculated usIng the Government's current allocation percentage of 7.58%. In future years, this allocation percentage will be subject to change because the HELP Agreement provides that each year members will be assessed based upon a formula that specifies the following four criteria for allocating premium costs: (Continued) 29 VILLAGE OF GLENVIEI/V, ILLINOIS Notes to Financial Statements December 31, 2000 NOTE 9 - CONTRACTUAL COMMITMENTS (Continued) Miles of Streets Full-Time Equivalent Employees Number of Motor Vehicles Operating Revenues Solid Waste Agency of Northern Cook County (SWANCC): The Government has committed to pay its share of the annual operating costs and fixed costs of the SWANCC. The Government's share of costs is expected to be funded through tipping fees paid by refuse haulers. The Government began delivering refuse to SWANCC in May of 1995. SWANCC has entered into solid waste disposal contracts with the twenty-three member municipalities. The contracts are irrevocable and may not be terminated or amended except as provided in the contract. Each member is obligated, on a "take or pay" basis, to purchase, or in any event, to pay for a minimum annual cost of the system. The obligation of the Government to make all payments as required by this contact is unconditional and irrevocable, without regard to performance or nonperformance by SWANCC of its obligations under this contract. NOTE 10 - INTERFUND ASSETS/LIABILITIES Due From/To Other Funds Receivable Fund Payable Fund Amount General GNAS Redevelopment $ 408,178 Glen Land Sales 10,000 GNAS Bond Fund Series 1995 16,000 Capital Equipment Replacement 25,000 Deposit 61r928 521~106 Special Revenue GNAS - Redevelopment Special Tax Allocation 1,325,000 Illinois Municipal Retirement General 1,873 GNAS Caretaker Special Tax Allocation 73,000 Special Tax Allocation Glen Land Sales 3,103~000 41502'873 (Continued) 30 VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 2000 NOTE 10 - INTERFUND ASSETS/LIABILITIES (Continued) Due From/To Other Funds (Continued) Receivable Fund Payable Fund Amount Debt Service Corporate Purpose Bond Series of 1994 General $ 3,224 Corporate Purpose Bond Series of 2000 2000 Project 7,311 Corporate Purpose Bond Series of 1993 General 3,845 Corporate Purpose Bond Series of 1994 922 Corporate Purpose Bond Series of 1998 Corporate Purpose Bond Series of 1993 600 15,902 Capital Projects Glen Land Sales GNAS Caretaker 50,000 GNAS Bond Fund Series 1995 75,000 Village Permanent Glen Land Sales 832,406 Bond Fund Series 1993 General 25,000 Capital Projects General 188,870 Bond Fund Series of 1993 4,477 GNAS Bond Fund Series 1995 GNAS - Redevelopment 708,200 Water Works 164,900 Special Tax Allocation 1,705,000 3,753,853 Enterprise Sewerage Capital Projects 164,370 GNAS Bond Fund Series 1995 241 Water Wholesale Water 29,167 Capital Projects 3,134 Deposit 19,959 216,871 Internal Service Municipal Equipment Repair General 6,000 6~000 Trust and Agency Police Pension General 1,309 Fire Pension General 519 Escrow General 1,364 3,192 $ 9.019.797 (Continued) 31 · VILLAGE OF GLENVIEW, ILLINOIS · Notes to Financial Statements · December 31, 2000 ! NOTE 10 - INTERFUND ASSETS/LIABILITIES (Continued) Advances From/To Other Funds 1 Receivable Fund Payable Fund Amount Waterworks Capital Projects $ 1,273,708. Capital Equipment Replacement 807,916 Sewerage Capital Equipment Replacement 92. P~P 1 North Maine Water and Sewer Capital Equipment Replacement 67~213 $ 2.241.059 I NOTE 11 - SEGMENT INFORMATION - ENTERPRISE FUNDS I 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: 1 North Maine Commuter Wholesale Water and Parking · Waterworks .Water Sewer Sewerage Lo~t Totals Operating revenues $ 6,585,470 $ 1,468,681 $ 5,076,400 $ 874,217 $ 217,331 $ 14,222,099 Depreciation and I amortization expense 568,515 62,816 252,905 138,656 8,384 1,031,276 Operating income 1,780,748 498,298 637,621 421,954 73,462 3,462,083 Operating transfers in 340,000 340,000 · Operating lxansfers out (2,237,284) (423,360) (578,449) (584,941) (37,000) (3,861,034) Net income (loss) 38,629 (25,848) (311,730) (92,383) 46,050 (345,282) Current capital contributions 1,290,144 1,290,144 m Current capital txansfers Plant, property, and equipment I Additions 595,987 8,665 813,802 1,418,454 Deletions (17,907) (17,907) Total assets 19,776,225 3,006,984 8,254,589 6,174,590 769,777 37,982,165 Net working capital 5,568,661 866,590 1,212,141 762,877 190,435 9,000,704 · Bonds and other long-term liabilities Payable from I operating revenues 2,175,000 8,280,192 10,455,192 Payable from other sources Total equity 19,253,122 733,552 (421,839) 5,977,509 240,595 25,782,939 I (Continued) I VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 2000 NOTE 12 - CONTRIBUTED CAPITAL During the current year, contributed capital increased by the following amounts: Waterworks Sewerage Totals Increases Contribution of capital $ $ 1,290,144 $ 1,290,144 Decreases - Net increases 1,290,144 1,290,144 Contributed capital January 1 2,586,154 892,089 3,477~243 December31 $ 2.586.154 $ 2,181.23____~3 $ 4.767.387 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 that 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 HELP 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 SWANCC 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 I Notes to Finandal Statements December 31, 2000 NOTE 14 - JOINT VENTURES I Regional Emergency Dispatch Center I Description of Joint Venture The Regional Emergency Dispatch Center (R.E.D.) is a governmental joint venture used to 1 account for the resources involved in dispatching fire and medical emergency services to a nine community area. This fund is supported by contributions from the nine member departments. I As of December 31, 2000, R.E.D. served the fire departments of: Village of Glenview Village of Morton Grove I Village of Niles Village of Northbrook North Maine Fire Protection District Prospect Heights Fire Protection District Village of Wheeling Village of Winnetka Village of Highwood I Management consists of a Board of Directors comprised of one appointed representative from I 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 R.E.D. beyond its I representation on the Board of Directors. Summary Financial Information of Joint Venture The financial statements of R.E.D., dated December 31, 2000, show the following: Government's Total Share (.3210) Total assets $ 1.213.568 $ 389,555 Total liabilities $ 298,076 $ 95,682 Total equity 915,492 293,873 I Total liabilities and equity $ 1.213.568 $ 389,555 Total revenues $ 1,061,990 $ 340.899 I Total expenditures $ 960,537 $ 308,332 I (Continued) I 1 VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 2000 NOTE 14 - JOINT VENI'URES (Continued) Regional Emergency Dispatch Center (Continued) Summary Financial Information of Joint Venture (Continued) Initial contributions are determined in advance of each membership year based on the population within each member's district. Complete financial statements can be obtained from the Regional Emergency Dispatch System, 1815 Glenview Road, Glenview, IllZnois, 60025. Total payments made to the R.E.D. Center totaled $213,694 for the year. Solid Waste Agency of Northern Cook County (SWANCC): Description of Joint Venture The Government is a member of the Solid Waste Agency of Northern Cook County (SWANCC) which consists of twenty-three municipalities. SWANCC is a municipal corporation and public body politic and corporate established pursuant to the Constitution of the State of Illinois and the Intergovernmental Cooperation Act of the State of Illinois, as amended (the Act). SWANCC is empowered under the Act to plan, construct, finance, operate, and maintain a solid waste disposal system to serve its members. The members of SWANCC and their percentage shares based on formulae contained in the Agreement as April 30, are: SWANCC of 1995 % % Share Share Arlington Heights 10.13 % Mount Prospect 8.86 % Barrington 1.40 Niles 2.61 Buffalo Grove 5.90 Palatine 12.33 Elk Grove Village 4.57 Park Ridge 4.10 Evanston 7.28 1.11 Prospect Heights Glencoe 1.20 Rolling Meadows 2.74 Glenview 5.85 Skokie 5.54 Hoffrnan Estates 6.17 South Barrington .64 Inverness 1.52 Wheeling 4.63 Witrnette 4.05 Kenilworth .92 Lincolnwood 1.87 Winnetka 3.80 Morton Grove 2.78 100.~00% (Continued) VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 2000 NOTE 14 - JOINT VENTURES (Continued) Solid Waste Agency of Northern Cook County (SWANCC) (Continued) Description of Joint Venture (Continued) These percentage shares are based on waste estimates for the year 2003 and cannot be changed for the term of the SWANCC Agreement. The members form a contiguous geographic service area, which is located northwest of downtown Chicago. Under the Agency Agreement, additional members may join SWANCC upon the approval of each member. SWANCC is governed by a Board of Directors which consists of one appointed mayor or president from each member municipality. Each director has an equal vote. The officers of SWANCC are appointed by the Board of Directors. The Board of DLrectors determines the general policy of SWANCC; makes all appropriations; approves contracts; adopts resolutions providing for the issuance of bonds or notes by SWANCC; adopts bylaws, rules and regulations; and exercises such powers and performs such duties as may be prescribed in the Agency Agreement or the bylaws. Summary of Financial Information of ~oint Venture Summary of Financial Position as of April 30, 2000: Assets Liabilities and Fund Equity Current assets Current liabilities Cash and investments $ 995,287 Accounts payable $ 1,949,454 Receivables and other 1,060,924 Bonds payable 2,500,000 2~056t211 Accrued interest payable 1,730,947 Deferred revenue le422,207 7,602,608 Restricted assets Long-term liabilities Cash and investments 17,241,568 Bonds payable (net of Accrued interest receivable 3~394 discount) 57,780,139 17,244,962 Fixed assets 30~13,163 Accumulated depreciation (3r171,909) Total liabilities 65,382t747 27,641t254 Other asse~s Unamortized bond Fund equity issuance cost 1~146,417 Contributed capital 4,723,340 Retained earnings (22,017,243) Total fund equity (17,293,903} Total liabilities Total assets $ 48,088,844 and fund equity $ 48.088.844 (Continued) VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 2000 NOTE 14 - JOINT VENTURES (Continued) Solid Waste Agency of Northern Cook County (SWANCC): (Continued) Sunmam~ of Financial Information of Joint Venture (Continued) SWANCC's outstanding bonds are revenue obligations. They are limited obligations of SWANCC with a claim for payment solely from and secured by a pledge of the revenues of SWANCC and amounts in various funds and accounts established by agency resolutions. The bonds are not the debt of any member. SWANCC has no power to levy taxes. Revenues of SWANCC consist of (1) ail receipts derived from solid waste disposal contracts or any other contracts for the disposal of waste; (2) all income derived from the investment of monies; and (3) all income, fees, and service charges and all grants, rents, and receipts derived by SWANCC from the ownership and operation of the system. SWANCC covenants to establish fees and charges sufficient to provide revenues to meet all its requirements. 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 $803,595 in payments to SWANCC for the year ended December 31, 2000. NOTE 15 - POSTEMPLOYMENT BENEFITS In addition to providing the pension benefits described, the Government provides postemployment health care benefits for retired public safety employees. Substantially all of the Government's public safety employees may become eligible for those benefits if they reach normal retirement age while working for the Government. The cost of retiree health care benefits is recognized as an expenditure as claims are paid. For the fiscal year, those costs total $171,348 for the 51 participants. The retirees pay an annual premium, which is equal to the actuarially determined cost for each plan year. Accordingly, no liability has been recorded for post-retirement health care benefits. (Continued) 37 VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 2000 NOTE 16 - EMPLOYEE RETIREMENT SYSTEMS (Continued) Plan Descriptions and Provisions: (Continued) 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 lltinois Compiled Statutes (Chapter40 ~ ArticleS/4) and may be amended only by the Illinois legislature. The Government accounts for the plan as a pension trust fund. The Government's payroll for employees covered .by the Firefighters' Pension Plan for the year ended December 31, 2000 was $4,506,495 out of a total payroll of $18,873,537. At December 31, 2000, the Firefighters' Pension Plan membership consisted of: Retirees and beneficiaries currently receiving benefits and terminated employees entitled to benefits but not yet receiving them 35 Current employees Vested 54 Nonvested 25 Total 114 The following is a summary of the Firefighters' Pension Plan as provided for in the rllinois Compiled Statutes. The Firefighters' Pension Plan provides reOrement benefits as well as death and disabffity benefits. Employees attaining the age of 50 or more with 20 or more years of ~reditable service are entitled to receive a monthly retirement benefit of one-half of the monthly salary attached to the rank held in the fire Service at the date of retirement. The monthly pension shall be increased by one-twelfth of 2V2 percent of such monthly salary for each additional month over 20 years of service through 30 years of service and one-tweLfth of I percent of such monthly service for each additional month over 30 years of service, to a maximum of 75 percent of such monthly salary. Employees with at least 10 years but less than 20 years of credited service may retire at or after age 60 and receive a reduced retirement benefit. The monthly pension of a firefighter who retired with 20 or more years of service after January 1, 1977 shall be increased annually, following the first anniversary date of reffrement and paid upon reaching at least the age 55, by 3 percent of the original pension and 3 percent annually thereafter. Funding Policy - Covered employees are required to contribute 8.455 percent of their salary to the Firefighters' Pension Plan. If an employee leaves covered employment with less than 20 (Continued) 40 VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 2000 NOTE 16 - EMPLOYEE RETIREMENT SYSTEMS (Continued) Plan Descriptions and Provisions: (Continued) Firefighters' Pension (Continued) years of service, accumulated employee contributions may be refunded without accumulated interest. The Government is required to contribute the remaining amounts necessary to finance the plan as actuarially determined by an enrolled actuary. Effective July 1, 1993, the Government's contributions must accumulate to the point where the past service cost for the Firefighters' Pension Plan is fully funded by the year 2033. No separate Firefighters' Pension Fund annual financial report is issued. Summary of Significant Accounting Policies and Plan Asset Matters: Basis of Accounting - The financial statements are prepared using the accrual basis of accounting. Employee and employer contributions are recognized as revenues in the period in which employee services are performed. Method Used to Value Investments - Investments are reported at fair value. Investment income is recognized as earned. Gains and losses on sales and exchanges of fixed-income securities are recognized on the trade date. Significant Investments - There are no investments (other than U.S. government and U.S. government - guaranteed obligations) in any one organization that represent 5 percent or more of net assets available for benefits: Related Party Transactions - There were no securities of the employer or any other related parties included in plan assets, including any loans. (Continued) I I I I I I I I I I I I I I I I I I i VILLAGE OF GLENVIEW, ILLINOIS Illinois Municipal Retirement FUnd Required Supplementary Information Analysis of FUnding Progress December 31, 2000 (6) Unfunded (Overfunded) Actuarial (4) Accrued (2) Unfunded Liability (1) Actuarial (Overfimded) as a Actuarial Actuarial Accrued (3) Actuarial (5) Percentage Valuation Value Liability Funded Accrued Annual of Covered Date of Plan (AAL) Ratio Liability Covered Payroll Ianuary 1 Assets - Entry_ Age (1) + (2) (2) - (1) Payroll (4) + (5) 1995 $ 11,700,488 $ 13,133,343 89.09% $ 1,432,855 $ 6,977,866 20.53% 1996 13,146,368 14,358,158 91.56 1,211,790 7,546,952 16.06 1997 15,304,133 16,257,078 94.14 952,945 8,360,225 11.40 1998 17,834,171 17,399,577 100.76 (134,594) 8,842,628 (1.52) 1999 20,971,639 19,680,215 106.56 (1,291,424) 9,514,512 (13.57) 2000 24,477,730 21,790,735 112.33 (2,686,995) 10,379,550 (25.89) Notes to the Required Supplementary Information - The information presented was determined as part of the actuarial valuations at the dates indicated. Additional information as of the latest actuarial valuation presented is as follows: The actuarial cost method was entry age normal; the amortization method was level percent of pay, closed and the amortization period was 32 years; the asset valuation method was a five-year smoothed market method; and the sigrfificant actuarial assumptions were an investment rate of return at 7.5% compounded annually including a 4.00% inflation factor, a projected salary increases assumption of 0.4% to 11.6% compounded annually including a 4.00% inflation factor, and post-retirement benefit increases of 3% compounded annually. VILLAGE OF GLENVIEIN, ILLINOIS Police Pension Fund Required Supplementary Information Analysis of Funding Progress December 31, 2000 (6) Unfunded (Overftmded) Actuarial (4) Accrued (2) Unfunded Liability (1) Actuarial (Overfunded) as a Actuarial Actuarial Accrued (3) Actuarial (5) Percentage Valuation Value Liability Funded Accrued Annual of Covered Date of Plan (AAL) Ratio Liability Covered Payroll January 1 Assets - Entry_ Age (1) + (2) (2) - (1) Payroll (4) + (5) 1995 N/A N/A N/A N/A N/A N/A 1996 N/A N/A N/A N/A N/A N/A 1997 $ 20,158,840 $ 20,886,412 96.52% $ 727,572 $ 3,384,492 21.49% 1998 23,553,282 23,162,656 101.70 (390,626) 3,687,295 (10.59) % 1999 27,211,245 24,277,701 112.10 (2,933,544) 3,789,745 (77.40) 2000 25,629,270 25,769,884 99.45 140,614 4,008,491 3.51 N/A - Information is presented for as many of the six prior years as information according to the disclosure parameters is available. Information for these years is not available. Notes to the Required Supplementary Information - The information presented was determined as part of the actuarial valuations at the dates indicated. Additional information as of the latest actuarial valuation presented is as follows: The actuarial cost method was entry age normal; the amortization method was level percent of pay, dosed and the amortization period was 34 years; the asset valuation method was a three-year smoothed market method; and the significant actuarial assumptions were an investment rate of return at 8% compounded annually including a 3.00% inflation factor, a projected salary increases assumption of 5.5% compounded annually including a 3.00% inflation factor, and post-retirement benefit increases of 3% compounded annually. 45 VILLAGE OF GLEN-VIEW, ILLINOIS Firefighters' Pension Fund Required Supplementary Information Analysis of Funding Progress December 31, 2000 (6) Unfunded (Overfunded) Actuarial (4) Accrued (2) Unfimded Liability (1) Actuarial (Overfunded) as a Actuarial Actuarial Accrued (3) Actuarial (5) Percentage Valuation Value Liability Funded Accrued Annual of Covered Date of Plan (AAL) Ratio Liability Covered Payroll ]anuary 1 Assets - Entry_ Age (1) + (2) (2) - (1) Payroll (4) + (5) 1995 N/A N/A N/A N/A N/A N/A 1996 N/A N/A N/A N/A N/A N/A 1997 $ 30,745,072 $ 27,892,787 110.23% $ (2,852,285) $ 4,164,229 (68.49)% 1998 34,502,380 29,741,118 116.01 (4,761,262) 4,253,196 (111.95) 1999 37,887,879 31,839,389 119.00 (6,048,490) 4,304,126 (140.50) 2000 36,747,302 34,999,514 104.99 (1,747,788) 4,506,495 (38.78) N/A - Information is presented for as many of the six prior years as information according to the disclosure parameters is available. Information for these years is not available. Notes to the Required Supplementary Information - The information presented was determined as part of the actuarial valuations at the dates indicated. Additional information as of the latest actuarial valuation presented as follows: The actuarial cost method was entry age normal; the amortization method was level percent of pay, closed and the amortization period was 34 years; the asset valuafion method was a three-year smoothed market method; and the significant actuarial assumptions were an investment rate of return at 8% compounded annually including a 3.0% inflation factor, a projected salary increases assumption of 5.5% compounded annually including a 3.0% inflation factor, and benefit post-retirement increases of 3% compounded annually. 46 VILLAGE OF GLENVIEW, ILLINOIS Illinois Municipal Retirement Fund Required Supplementary Irfformafion Employer Contributions December 31, 2000 Annual Year Ended Employer Required Percent December 31 Contributions Contribution .Contributed 1995 $ 691,600 $ 691,600 100.00% 1996 738,092 738,092 100.00 1997 764,282 764,282 100.00 1998 804,679 804,679 100.00 1999 831,568 831,568 100.00 2000 825,173 825,173 100.00 Notes to the Required Supplementary Information - The information presented was determined as part of the actuarial valuations as of January 1 of the prior fiscal year. Additional infornmtion as of the latest actuarial valuation presented is as follows: The actuarial cost method was entry age normal; the amortization method was level percent of pay, closed and the amortization period was 32 years; the asset valuation method was a five-year smoothed market method; and the significant actuarial assumptions were an Lnvestment rate of return at 7.5% compounded annually including a 4.0% inflation factor, a projected salary increases assumption of 0.4% to 11.6% compounded annually including a 4.0% inflation factor, and post-retirement benefit increases of 3% compotmded annually. 47 VILLAGE OF GLENVIEW, ILLINOIS Police Pension Fund Required Supplementary Information Employer Contributions December 31, 2000 Annual Year Ended Employer Required Percent December 31 Contributions Contribution Contributed 1995 N/A N/A N/A 1996 N/A N/A N/A 1997 $ 398,347 $ 391,787 101.67% 1998 376,836 364,249 103.46 1999 387,209 389,071 99.52 2000 427,409 389,558 109.72 N/A - Information is presented for as many of the six prior years as information according to the disclosure parameters is available. Information for these years is not available. Notes to the Required Supplementary Information ~ The information presented was determined as part of the actuarial valuations as of January 1 of the fiscal year. Additional information as of the latest actuarial valuation presented is as follows: The actuarial cost method was entry age normal; the amortization method was level percent of pay, closed and the amortization period was 34 years; the asset valuation method was a three-year smoothed market method; and the significant actuarial assumptions were an investment rate of return at 8% compounded annually including a 3.0% inflation factor, a projected salary increases assumption of 5.5% compounded annually including a 3.0% inflation factor, and post- retirement benefit increases of 3% compounded annually. 48 VILLAGE OF GLENVIEW, ILLINOIS Firefighters' Pension Fund Required Supplementary Information Employer Contributions December 31, 2000 Annual Year Ended Employer Required Percent December 31 Contributions Contribution Contributed 1995 N/A N/A N/A 1996 N/A N/A N/A 1997 $ 247,575 $ 180,383 137.25% 1998 236,334 200,526 117.86 1999 128,265 127,498 100.60 2000 143,165 123,437 115.98 N/A - Information is presented for as many of the six prior years as information according to the disclosure parameters is available. Information for these years is not available. Notes to the Required Supplementary Information - The information presented was determined as part of the actuarial valuations as of January 1 of the fiscal year. Additional information as of the latest actuarial valuation presented is as follows: The actuarial cost method was entry age normal; the amortization method was level percent of pay, closed and the amortization period was 34 years; the asset valuation method was a three-year smoothed market method; and the significant actuarial assumptions were an investment rate of return at 8% compounded annually including a 3.0% inflation factor, a projected salary increases assumption of 5.5% compounded annually including a 3.0% inflation factor, and post- retirement benefit increases of 3% compounded annually. 49 GENERAL FUND The General Fund, also referred to as the Corporate Fund, is used to account for resources traditionally associated with governmental services not required to be accounted for in another fund. I I I I i I i I I I ! I ! ! I I I I I VILLAGE OF GLENVIEI,V, ILLINOIS General Fund i Balance Sheet December 31, 2000 and 1999 ! 2000 1999 I ASSETS Cash $ 1,792,206 $ 1,666,098 Investments 10,414,523 8,689,937 Receivables Taxes I Property taxes 5,672,153 5,604,175 Sales tax 1,146,631 527,596 i Income tax 232,960 217,722 Utility taxes 425,315 316,573 Accounts 333,143 243,454 I Other 99,614 Due from other governments 4,615 Due from other funds 521,106 3,223,415 Prepaid items 9,867 Total assets $ 20,538,037 $ 20,603,066 I LIABILITIES AND FUND BALANCE Liabilities i Accounts payable $ 609,888 $ 156,192 Accrued payroll 77,455 89,365 Compensated absences payable 951,802 926,120 I Infrastructure maintenance fee 637,589 Other payables 17,374 11,506 Due to other funds 232,004 30,920 I 150,575 282,636 Deferred revenue Deferred property taxes 5,672,153 5,604,175 Total liabilities 8,348,840 7,100,914 I Fund balance Reserved for prepaid items 9,867 I Reserved for Patton House 10,000 10,000 Unreserved Designated for income tax surcharge receipts 1,334,848 1,334,848 I Undesignated 10,844,349 12,147,437 Total fund balance 12,189,197 13,502,152 I and fund balance $ 20,538,037 $ 20,603_~__,066 Total liabilities i See accompanying notes to financial statements. 50 I VILLAGE OF GLENVIE'vV, ILLINOIS General Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended December 31, 2000 and Actual Only for 1999 I 2000 1999 Budget Actual Actual · Taxes $ 9,987,530 $ 10,213,070 $ 9,448,323 Licenses and permits 1,187,000 1,737,399 1,233,680 · Intergovernmental 12,153,152 12,894,962 11,652,069 Charges for services 1,983,535 1,280,928 754,469 Fines and forfeits 225,000 224,431 281,525 · Interest 475,000 665,382 478,582 Miscellaneous 2,474,100 524,969 1,159,475 Total revenues 28,485,317 27,541,141 25,008,123 Expenditures ! General government 8,409,556 7,693,301 4,854,514 Public safety 13,~3,555 13,295,031 12,357,2~ Highways and streets 5,328,060 5,100,455 4,774,392 1 Pension 424,000 570,574 515,397 Total expenditures 27,505,171 26,659,361 22,501,566 over expenditures 980,146 881,780 2,506,557 Other financing sources (uses) · Operating transfers in 1 Wholesale Water Fund 102,000 102,000 102,200 Waterworks fund 500,750 500,750 457,808 Sewerage Fund 68,500 68,500 62,539 · North Maine Water and Sewer Fund 292,674 292,674 381,981 Commuter Parking Lot Fund 37,000 37,000 32000 GNAS - Redevelopment Fund 2,000 2,000 2,000 · GNAS - Caretaker Fund 2,000 2,000 2,000 Capital Projects Fund 1,208,986 Escrow Deposit Fund 150,000 190,994 194,993 · Component Unit 1 Library Fund 12,600 12,600 12,600 Operating transfers (out) Capital Equipment Replacement Fund (1,001,302) (1,001,302) (1,024,903) · Capital Projects Fund (4,426,824) (3,610,937) (1,199,285) (4,260,602) (2,194,735) (976,067) Excess (deficiency) of revenues and other 1 financing sources ever expenditures and other financing uses $ (3,280,456) (1,312,955) 1,530,490 Fund balance l January I 13,502,152 11,971,662 December 31 $ 12,189,19~7 $ 13,502,15~2 I See accompanying notes to financial statements. 51 1 VILLAGE OF GLEN'VIEW, ILLINOIS General Fund Schedule of Revenues - Budget and Actual Year Ended December 31, 2000 and Actual Only for 1999 2000 1999 Budget Actual Actual Taxes Property taxes - current $ 5,348,300 $ 4,817,524 $ 4,571,956 Property taxes - pension 520,000 570,574 515,397 Property taxes - prior 1,000 240,370 804 Utility tax - AT&T 45,000 69,889 87,149 Utility tax - mobile services 415,000 501,455 357,430 Utility tax - N. I. Gas 475,000 623,847 466,025 Utility tax - Commonwealth Edison 1,558,230 1,792,662 1,501,032 Utility tax - Ameritech 700,000 724,730 851,089 Infrastructure maintenance fees Ameritech 27,036 Other 267,270 Hotel room tax 925,000 872,019 803,135 9,987,530 10,213,070 9,448,323 Licenses and permits Motor vehicle 10 Business 65,000 66,097 45,841 Liquor 90,000 85,200 89,300 Pet 5,000 4,913 4,624 Building permits 900,000 1,420,971 967,811 Certificate of occupancy 30,000 35,794 28,934 Contractors fees 40,000 47,808 37,672 Plumbing and sewer 50,000 65,789 51,109 Driveway permits 7,000 10,827 8,379 1,187,000 1,737,399 1,233,680 Intergovemmental Glenbrook Fire Protection District 2,050,000 1,968,076 2,123,992 Replacement taxes 125,000 150,490 121,806 Sales tax 5,500,000 6,522,922 5,758,617 Illinois income tax 2,850,000 2,990,432 2,740,281 Photo use tax 500,000 560,588 509,107 bridge 160,000 176,115 162,833 Road and Road and bridge - prior 100 7,826 3 Village of Golf Fire Protection District 135,000 123,400 129,557 intergovernment 110,000 134,979 70,708 Miscellaneous Federal and state grants 723,052 144,525 35,165 Make-whole payment 115,609 12,153,152 12,894,962 11,652,069 (Continued) 52 · VILLAGE OF GLENVIEW, ILLINOIS · General Fund I Schedule of Revenues - Budget and Actual Year Ended December 31, 2000 and Actual Only for 1999 I 2000 1999 I Budget Actual Actual Charges for services · R.E.D. Administration $ $ 37,690 $ 30,881 Plan review fees 100,000 99,533 72,066 Reinspection fees 2,500 4,887 670 · Elevator inspection fees 15,000 11,420 12,920 Planning fees 5,000 18,136 Conditional use fees 5,000 6,552 31,145 · Electrical inspection 50,000 81,122 59,090 1 Engineering fees 713,000 781,081 382,103 GNAS engineering fees 911,035 · Unclassified public works 12,000 6,923 7,607 Other service charges 10,000 8,656 9,789 Lease fees 160,000 212,898 135,720 Dog impounding fees 12,030 12,478 1 1,983,535 1,280,928 754,469 Fines and forfeits 225,000 224,431 281,525 I Interest Savings 15,000 21,199 18,592 Investments 450,000 632,299 448,879 N.O.W. accounts 10,000 11,884 11,111 475,000 665,382 478,582 1 Other Revenues Ameritech Infrast. Maint 15,000 159,006 · Infrastructure Maintenance Fee 230,000 (303,014) Franchise tax - Ameritech 160,000 174,396 Franchise tax - Cable TV 210,000 169,839 204,966 · Nicor franchise tax 25,442 TCI Programming Agreement 56,012 Land sales 1,635,000 295,460 531,593 · Miscellaneous 224,100 178,236 192,508 2,474,100 524,969 1,159,475 Total revenues $ 28,485,31~7 $ 27,541,14~1 $ 25,008,123 ! I VILLAGE OF GLENVIEW, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 2000 Budget Actual General government Board of Trustees $ 40,220 $ 33,413 Special board 3,073,185 2,781,365 Legal 509,400 177,719 Emergency Service Disaster Agency 56,600 35,748 Village Manager 498,108 426,226 Finance 694,900 680,339 Information Systems Management 237,405 316,712 Municipal building and grounds 509,758 453,926 Personnel and insurance 2,789,980 2,787,853 8,409,556 7,693,301 Public safety Police department 6,889,136 6,692,653 Fire department 6,391,019 6,565,400 Printing 63,400 36,978 13,343,555 13,295,031 Highways streets and Development and public services Administration 285,629 293,787 Plarming and zoning 243,220 202,814 Engineering 760,268 627,344 Public health 217,705 203,149 Cable TV 97,859 79,439 Public works - administration 345,685 280,612 Public works - overhead 1,003,412 1,118,784 Public works - street maintenance 318,513 269,342 Public works - traffic 365,474 273,135 Public works - storm water management 128,407 125,028 Public works - snow and ice control 316,713 459,547 Public works - forestry 207,834 248,073 Public works - grounds 235,563 164,824 Building inspection 801,778 754,577 5,328,060 5,100,455 Pension 424,000 570,574 Total expenditures $ 27,505,171 $ 26,659,36~1 i (Continued) 54 1 VILLAGE OF GLEN'VIEW, ILLINOIS I General Fund Schedule of Expenditures - Budget and Actual I Year Ended December 31, 2000 Budget Actual I General government Board of Trustees · Regular salaries $ 9,000 $ 8,888 Contractual professional services 10,000 5,450 Training 1,000 I Trustee expense 17,220 10,586 Operational material and supplies 3,000 8,489 40,220 33,413 Special board I Contractual services 295,495 217,607 Materials and supplies 3,500 2,626 Capital outlay 2,774,190 2,561,132 m 3,073,185 2,781,365 Legal Contractual and professional services 80,400 40,970 m~ Contractual disbursements 6,000 2,682 Litigation disbursements 15,000 4,870 Books 3,700 3,326 Dues, subscriptions, and memberships 600 580 m Village attorney retainer 42,750 42,750 Prosecutor retainer 30,950 30,950 Outside litigation 330r000 51,591 509,400 177,719 I Emergency Service Disaster Agency Telephone and telegraph 1,200 837 Maintenance of equipment 4,300 4,843 · Office supplies 100 11 Contingencies 500 Small tools 500 632 and equipment 50,000 29,425 · Machinery 56,600 35,748 Village Manager Regular salaries 384,008 347,244 ~ Longevity pay 792 792 Contractual professional services 1,500 Printing, binding, and publication 1,900 1,105 · Postage 55,000 39,368 Dues, subscriptions, and memberships 22,450 20,000 Maintenance of equipment 4,200 3,772 Travel expense 11,030 3,595 · Training expense 2,700 1,335 Office supplies 500 1,354 Books, pamphlets, and materials 310 52 ~m Operational material and supplies 1,200 17 Computer supplies 3,300 484 Equipment repairs 3,718 4,520 1 (Continued) I 55 ! VILLAGE OF GLENVIEW, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 2000 Budget Actual General government (continued) Village Manager (conl~nued) Equipment replacement $ 7,000 $ 6,996 Machinery and equipment 4,500 1,808 Furniture & fixtures 1,000 780 505,108 433,222 Less transfer to Capital Equipment Replacement Fund 7,000 6,996 498,108 426,226 Finance General Regular 501,344 486,826 Overtime salaries 500 Temporary salaries 37,166 39,433 Longevity pay 3,958 3,165 Contractual professional services 35,500 32,350 Printing, binding, and publication 18,000 20,137 Postage 500 683 Dues, subscriptions, and memberships 1,580 2,023 Maintenance of equipment 4,450 15,229 Rentals 44,700 18,209 expense 2,650 3,503 Travel Training expense 7,975 6,058 Office supplies 24,400 39,488 Books, pamphlets, and materials 500 254 Small tools and equipment 500 962 Computer supplies 5,000 2,727 Equipment repairs and maintenance 4,677 3,241 Other operating expense 500 5,876 Bank charges 1,000 175 694,900 680,339 Information Systems Management Regular salaries 71,515 73,535 Temporary salaries 15,000 13,097 Longevity pay 735 735 Contracted professional services 20,000 50,363 Telephone and telegraph 15,200 14,722 Dues, subscriptions, and memberships 905 471 Maintenance of equipment 49,850 90,683 Travel expense 1,000 1,133 Training expense 2,500 6,650 pamphlets, 500 975 Books, Computer supplies 5,800 7,882 P.C. expansion 18,400 20,290 Machinery and equipment 36,000 36,176 237,405 316,712 i (Continued) 56 I VILLAGE OF GLENVIEI, V, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 2000 Budget Actual I General government (continued) Municipal building and grounds · Regular employee salaries $ 28,058 $ 28,298 Overtime salaries 1,000 Contractual professional services 3,500 8,542 Heating 24,000 19,655 Postage 18,000 29,884 Telephone 70,000 128,461 Maintenance of equipment 29,600 30,232 Maintenance of buildings 18,600 5,115 Rentals 17,000 16,839 · Cleaning and household supplies 5,000 3,155 Maintenance materials - buildings 7,200 7,542 Small tools and equipment 500 408 · Employee welfare 6,000 5,567 Buildings and improvements 251,300 169,880 Machinery and equipment 30,000 348 509,758 453,926 I Personnel and insurance Regular salaries 68,916 72,007 Longevity pay 1,018 1,018 · Contractual professional services 24,000 19,349 Public safety selection and promotion 13,000 6,579 Wellness program 3,000 3,719 · Printing, binding, and publications 6,000 14,803 Dues, subscriptions, and memberships 975 1,535 Safety program 400 · Commission expense 400 92 Training expense 30,900 21,167 Books, pamphlets and materials 1,000 500 · FICA payments 535,000 542,493 Employee welfare 16,000 15,220 Insurance 2,089,371 2,089,371 2,789,980 2,787,853 I Total general government $ 8,409,55~6 $ 7,693,30~1 I I 1 (Continued) 1 57 I VILLAGE OF GLENVIEW, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 2000 Budget Actual Public safety Police department Regular salaries $ 5,293,437 $ 5,178,454 Overtime salaries 130,000 147,316 Overtime hire back 90,000 80,679 Overtime court time 106,000 111,427 Overtime training 8,500 6,080 Overtime extra detail 26,075 Temporary salaries 184,344 182,098 Holiday pay 120,000 126,286 Longevity pay 68,688 67,342 Contractual professional services 112,500 93,715 Printing, binding, and publication 11,000 10,486 Heating 7,500 11,500 Postage 4,700 3,968 Telephone 26,000 37,572 Dues and subscriptions 4,500 3,880 Maintenance of equipment 62,200 55,883 Maintenance of buildings 10,500 7,523 Rentals 26,580 19,559 Travel expenses 14,950 12,864 Office supplies 9,000 7,640 Books, pamphlets, and materials 11,000 11,154 Training 87,505 67,809 Uniform allowance 73,925 65,791 Cleaning and household supplies 6,000 7,326 Maintenance materials - buildings 8,000 3,670 Small tools and equipment 14,900 7,133 Operating supplies 41,600 28,551 materials and P.C. expansion/training 28,000 2,332 Employee welfare 11,000 12,840 Violence protection grant 16,250 28,056 Equipment repairs 205,855 212,235 Machinery and equipment 59,900 23,083 Furniture & fixtures 22,800 20,296 Criminal Justice Authority Grant 12,002 12,030 Equipment replacement 361,679 361,680 7,250,815 7,054,333 Less transfer to Capital Equipment Replacement Fund 361,679 361,680 6,889,136 6,692,653 (Continued) 58 VILLAGE OF GLENVIEW, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 2000 Budget Actual Public safety (continued) Fire depar~ent Regular salaries $ 4,994,686 $ 4,852,630 Overtime acting company officer 8,500 7,118 Overtime call back 25,000 24,077 Overtime hire back 150,000 582,513 Overtime apparatus repair 1,500 3,983 Overtime fire prevention 15,280 9,191 Overtime public education 22,260 13,740 Overtime emergency medical service 31,400 9,545 Overtime hazardous material 6,000 4,352 Overtime FLSA 47,500 49,356 Overtime special rescue 5,000 3,665 Overtime dive team 8,000 9,238 Overtime administrative 3,000 3,619 Overtime training 17,000 18,326 Overtime training instructor 20,000 21,943 Holiday pay 178,000 177,014 Longevity pay 54,334 53,219 Contractual professional services 292,032 229,201 Prin~ing, binding, and publication 1,200 316 Heating 12,000 20,111 Postage 800 786 Telephone 21,800 22,861 Dues, subscriptions, and memberships 2,555 2,178 Maintenance of equipment 24,200 10,326 Maintenance of buildings 29,580 36,889 Rentals 7,080 7,353 Travel expenses 11,150 6,127 Training 32,760 19,543 Uniform and turnouts 45,000 42,258 Office supplies 4,700 6,134 Texts and films 2,250 779 Motor vehicle supplies 4,000 2,516 Cleaning supplies 10,000 13,812 Maintenance materials - equipment 19,000 11,958 Maintenance materials - buildings 10,500 5,603 Small tools and equipment 31,140 28,484 Operating materials and supplies 16,600 17,771 Computer supplies 3,185 3,145 Employee welfare 6,000 3,696 Equipment replacement 260,248 260,256 Equipment repairs 178,127 142,754 Buildings/improvements to buildings 400 384 (Continued) 59 VILLAGE OF GLEN-VIEW, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 2000 Budget Actual Public safety (continued) Fire department (continued) Furniture and fixtures $ 3,900 $ 2,798 Machinery and equipment 33,600 84,088 6,651,267 6,825,656 Less transfer to Capital Equipment Replacement Fund 260,248 260,256 6,391,019 6,565,400 Printing Maintenance of equipment 250 Rentals 40,000 14,236 Machinery and equipment 2,950 2,968 Maintenance materials - equipment 100 Operating supplies 20,000 19,774 Small tools and equipment 100 63,40(~ 36,978 Total public safety $13,343,55~5 $13,295,031 (Continued) 60 VILLAGE OF GLENVIEW, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 2000 Budget Actual Highways and streets Development and public service Administration Regular salaries $ 237,684 $ 240,957 Overtime 500 926 Temporary salaries 21,000 32,626 Contractual professional services 2,000 2,187 Printing, binding, and publication 11,700 5,278 Postage 250 176 Dues, subscriptions, and memberships 800 623 Maintenance of equipment 4,500 4,588 Rentals 120 36 Travel expense 1,800 2,209 Training 1,300 368 Office supplies 700 1,051 Books, pamphlets, and materials 200 63 Computer supplies 400 224 Equipment replacement 3,600 3,600 Equipment repairs 2,675 2,475 289,229 297,387 Less transfer to Capital Equipment Replacement Fund 3,600 3,600 285,629 293,787 Planning and zoning Regular salaries 110,120 107,402 Temporary salaries 15,000 13,733 Contractual and professional services 105,000 63,724 Books, pamphlets, and materials 400 895 Printing, binding, and publication 8,971 Dues, subscriptions, and memberships 6,500 6,583 Maintenance of equipment 300 Travel expense 3,000 Training 1,800 295 Operational supplies 800 1,153 Computer supplies 300 58 243,220 202,814 Engineering Regular salaries 639,562 532,426 Overtime salaries 11,200 18,902 Temporary salaries 14,000 12,429 Longevity pay 1,582 1,582 Contractual and professional services 5,000 12,425 Printing, binding, and publication 403 Dues, subscriptions, and memberships 1,830 775 Maintenance of equipment 10,150 6,453 Travel expense 4,750 2,246 (Continued) 61 VILLAGE OF GLENVIEW, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 2000 Budget Actual Highways and streets (continued) Development and public service (continued) Engineering (continued) Rentals $ 400 $ 481 Training 2,950 1,138 Uniform allowance 1,750 215 Books, pamphlets, and materials 200 Operational materials 5,000 3,365 Computer supplies 1,500 1,673 Equipment replacement 31,600 31,596 Equipment repairs 18,694 23,274 Machinery and equipment 12,700 9,557 Automotive 29,000 791,868 658,940 Less transfer to Capital Equipment Replacement Fund 31,600 31,596 760,268 627,344 Public health Regular salaries 189,885 191,543 Overtime salaries 1,000 Temporary salaries 5,000 Longevity pay 1,696 1,696 Rentals 150 72 Contractual professional services 1,500 54 Dues, subscriptions, and memberships 1,555 1,472 Maintenance of equipment 1,145 Travel expense 2,555 2,254 Training expense 1,915 1,146 Books, pamphlets, and materials 550 149 Small tools and equipment 500 Operating materials and supplies 3,900 1,279 Equipment replacement 7,100 7,102 Computer supplies 1,800 164 Other operational expense 300 Equipment repairs 4,254 3,320 224,8O5 210,251 Less transfer to Capital Equipment Replacement Fund 7,100 7,102 217,705 203,149 Cable TV department Regular salaries 41,916 41,916 Temporary salaries 5,000 2,397 Contractual professional services 4,300 950 Printing, binding, and publication 1,000 72 Postage 100 164 Telephone 400 (Continued) 62 VILLAGE OF GLENVIEW, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 2000 Budget Actual Highways and streets (continued) Development and public service (continued) Cable TV depa~'haient (continued) Dues, subscriptions, and memberships $ 850 $ 673 Maintenance of equipment 3,000 1,480 Travel expense 1,400 Training 4,100 3,691 Books, pamphlets, and materials 100 292 Operational materials and supplies 5,000 3,657 Computer supplies 3,500 118 Equipment repairs 2,193 6,640 Machinery and equipment 25,000 11,878 Furniture & fixtures 5,511 97,859 79,439 Public works - administration Regular salaries 282,660 236,470 Overtime salaries 1,000 Temporary salaries 25,840 16,921 Longevity pay 2,035 2,035 Contractual professional services 6,500 1,510 Printing, binding, and publication 300 1,439 Dues, subscriptions, and memberships 800 778 Machinery and equipment - 2,496 Maintenance of equipment 250 197 Rentals 4,000 3,869 Travel expense 5,000 978 Training 8,800 7,232 Office supplies 2,000 2,968 Books, pamphlets, and materials 100 60 Operational materials and supplies 1,000 2,881 Capital outlay 4,400 Computer supplies 1,000 778 345,685 280,612 Public works - overhead Regular salaries 520,349 584,339 Overtime salaries 3,769 (15,459) Temporary salaries 65,471 94,111 Longevity pay 19,196 18,455 Contractual professional services 470 Heating 32,000 29,563 Telephone 5,000 13,392 Dues, subscriptions, and memberships 96 274 Maintenance of equipment 8,000 10,251 Maintenance of building improvements 19,100 25,441 Rentals 37,150 10,471 Travel expense 500 1,435 (Continued) 63 VILLAGE OF GLENVIEW, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 2000 Budget Actual Highways and streets (continued) Development and public service (continued) Public works - overhead (continued) Training $ 2,700 $ 2,552 Uniform allowance 15,000 11,775 Books, pamphlets, and materials 200 82 Cleaning supplies 5,300 1,623 Maintenance materials - buildings 8,000 6,271 Small tools and equipment 3,100 2,101 Employee welfare 5,000 6,256 Equipment replacement 309,075 309,072 Equipment repairs 249,481 311,426 Machinery and equipment 4,000 3,955 1,312,487 1,427,856 Less transfer to Capital Equipment Replacement Fund 309,075 309,072 1,003,412 1,118,784 Public works - street maintenance Regular salaries 215,639 194,330 Overtime salaries 16,390 29,912 Temporary salaries 15,084 9,326 Maintenance of building / improvements 20,000 Maintenance materials - buildings 32,000 21,301 Small tools and equipment 2,000 2,459 Operating materials and supplies 15,000 10,482 Machinery and equipment 2,400 1,532 318,513 269,342 Public works - traffic Regular salaries 78,204 90,028 Over~me salaries 8,349 17,637 Temporary salaries 5,271 3,367 Power and light 93,000 77,571 Maintenance of equipment 114,000 53,422 Maintenance of buildings 30,000 21,024 Rentals 300 Sign supplies 30,850 7,888 Small tools and equipment 500 230 Operafional materials and supplies 5,000 1,968 365,474 273,135 Public works - storm water management Regular salaries 73,775 84,830 2,720 7,582 Overtime salaries Temporary salaries 11,592 5,593 Maintenance of buildings 7,000 5,828 Maintenance materials - equipment 7,200 40 Small tools and equipment 800 486 i (Contir~ued) ! VILLAGE OF GLENVIEW, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 2000 Budget Actual Highways and streets (continued) Development and public service (continued) Public works - storm water management (continued) Rentals $ 1,270 $ 1,349 Training 800 Operating materials and supplies 20,000 16,650 Machinery and equipment 3,250 2,670 128,407 125,028 Public works - snow and ice control Regular salaries 128,400 162,813 Overtime salaries 44,833 99,387 Temporary salaries 4,152 1,978 Contractual professional services 650 95,402 Maintenance materials - equipment 21,000 16,948 Operating materials and supplies 117,678 83,019 316,713 459,547 Public works - forestry Regular salaries 178,701 196,576 Overtime salaries 7,700 21,013 Temporary salaries 8,728 8,487 Contractual professional services 1,800 15,750 Dues, subscriptions, and memberships 655 1,170 Maintenance of equipment 1,200 179 Maintenance of building / improvements 3,000 120 Maintenance materials and equipment 500 474 Small tools and equipment 300 504 Operational materials and supplies 5,250 3,800 207,834 248,073 Public works - grounds Regular salaries 72,428 71,214 Overtime salaries 2,302 1,347 Temporary salaries 10,233 2,163 Contractual professional services 121,000 66,211 Maintenance of building / improvements 5,000 Maintenance materials - equipment 600 60 Small tools and equipment 1,000 1,143 Operating materials and supplies 23,000 22,686 235,563 164,824 Building inspection Regular salaries 689,533 672,134 Overtime salaries 8,000 7,258 Temporary salaries 7,641 Longevity pay 3,561 3,561 Contractual professional services 23,500 10,426 Printing, binding, and publication 277 Dues, subscriptions, and memberships 3,215 3,511 (Continued) 65 VILLAGE OF GLENVIEW, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 2000 Budget Actual Highways and streets (continued) Development and public service (continued) Building inspection (continued) Maintenance of equipment $ 1,800 $ 60 Rentals 302 Travel 7,552 6,763 Training 6,000 4,676 Uniform allowance 2,000 676 Books, pamphlets, and materials 5,000 1,626 Operating materials and supplies 2,000 5,709 Computer supplies 1,000 PC expansion 2,466 Equipment replacement 21,000 21,000 Equipment repairs 8,667 11,441 Machinery and equipment 8,950 2,600 Automotive 31,000 13,450 822,778 775,577 Less transfer to Capital Equipment Replacement Fund 21,000 21,000 801,778 754,577 Total highways and streets $ 5,328,060 $ 5,100,45~5 Pension Police pension $ 318,425 $ 427,409 Firefighters' pension 105,575 143,165 Total pension $ 424,000 $ 570,574 66 I i SPECIAL REVENUE FUNDS Illinois Municipal Retirement Fund - The Illinois Municipal Retirement Fund is used to account for the revenues and expenditures associated with providing disability and pension benefits for Glenview employees. This fund also provides the 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. Refuse and Recycling Fund - The Refuse and Recycling Fund is used to account for the financial activity of the community wide recycling program. The program is designed to license and monitor prime scavenger services operating in the residential areas of the Government. Their activities will mainly be involved with the collection and disposition of recyclable items. 911 Communications Fund - The 911 Communications Fund is used to account for the activity of the 911 emergency service system. Financial activity began in 1990 and the system became operational in 1992. GNAS Redevelopment Fund - The GNAS Redevelopment Fund is used to account for the resources and expenditures incurred in the development of the Glenview Naval Air Base land. GNAS Caretaker Fund - The GNAS Caretaker Fund is used to account for the resources and expenditures related to the Village's custodial arrangement with the U.S. Navy regarding caretaking of the Glenview Naval Air Base. Special Tax Allocation Fund - The Special Tax Allocation Fund is used to account for the incremental property tax revenue that is generated through the growth of the assessed valuation at the GNAS. I I i I I I I ! I I I I I I I I I I I I 1 ~ ~ ' ! ~ 1 I VILLAGE OF GLEN-VIEW, ILLINOIS Illinois Municipal Retirement Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended December 31, 2000 Budget Actual Revenues Taxes Property taxes o current $ 520,000 $ 569,091 Property taxes - prior 28,681 Replacement taxes 20,000 20,000 Interest 4,000 8,350 Other 53,622 53,622 Total revenues 597,622 679,744 Expenditures Pension Retirement contributions 810,000 825,172 Other 8,000 7,835 Total expenditures 818,000 833,007 Excess (deficiency) of revenues over expenditures (220,378) (153,263) Other financing sources Operating transfers in 911 Communications Fund 11,580 11,580 Waterworks Fund 69,600 69,600 Wholesale Water Fund 1,360 1,360 North Maine Water Fund 28,775 28,775 GNAS Caretaker Fund 16,530 16,530 GNAS Redevelopment Fund 31,900 31,900 Sewerage Fund 13,975 13,975 Component unit Library Fund 136,622 136,622 310,342 310,342 Excess of revenues and other financing sources over expenditures $ 89,964 157,079 Fund balance January 1 72,445 December 31 $ 229,524 See accompanying notes to financial statements. 69 VILLAGE OF GLENVIEW, ILLINOIS Motor Fuel Tax Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended December 31, 2000 Budget Actual Revenues Intergovernmental Allotments $ 1,075,000 $ 1,141,541 Interest 10,300 10,399 Total revenues 1,085,300 1,151,940 Expenditures General government Operational materials and supplies 49,427 Excess of revenues over expenditures 1,085,300 1,102,513 Other financing (uses) Operating transfers (out) Capital Projects Fund (1,194,800) (1,194,800) Excess (deficiency) of revenues over expenditures and other financing uses $~ (92,287) Fund balance January 1 299,213 December 31 $ 206,926 See accompanying notes to financial statements. 70 VILLAGE OF GLENVIEI4/, ILLINOIS Refuse and Recycling Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended December 31, 2000 Budget Actual Revenues Charges for services License fee $ 3,125 $ 2,500 Host community revenue 100,000 100,858 Bin sales 2,500 2,526 Refuse bag sales 25,000 31,899 Yard waste sticker sales 7,500 10,363 Tipping fees 925,000 946,645 Interest 17,500 52,520 Total revenues 1,080,625 1,147,311 Expenditures General government Dumping costs 70,000 Refuse bag purchase 60,000 16,013 Yard waste sticker purchase 30,000 10,500 Operational materials & supplies 1,000 - Recycling bins 5,000 6,975 Other operational expenses 966,350 803,595 Printing, binding and publications 3,000 Contractual professional service 1,000 - Public works disposal fees 104,289 Total expenditures 1,136,350 941,372 Excess (deficiency) of revenues over expenditures $ (55,725.__) 205,939 Fund balance January 1 1,192,944 December 31 $ 1,398,883 See accompanying notes to financial statements. 71 VILLAGE OF GLENVIEW, ILLINOIS 911 Communications Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended December 31, 2000 Budget Actual Charges for services $ 350,000 $ 363,410 Interest 9,000 17,865 Miscellaneous 125 Total revenues 359,000 381,400 Expenditures Public safety Regular employee salaries 138,654 137,498 Overtime salaries 1,000 73 Overtime hire back 4,000 6,330 Holiday pay 1,000 Longevity pay 1,018 1,018 Contractual professional services 6,000 Printing, binding, and publications 500 Telephone and telegraph 84,430 74,961 Maintenance of equipment 14,100 6,465 Rentals 2,300 2,316 Uniform allowance 1,350 1,350 Materials and supplies 1,000 Furniture and fixtures 1,000 FICA payments 11,100 11,287 P.C. expansion/training 5,000 235 Insurance 16,085 16,085 Machinery and equipment 19,000 11,478 Total expenditures 307,537 269,096 Excess of revenues over expenditures 51,463 112,304 Other financing (uses) Operating transfers (out) Illinois Municipal Retirement Fund (11,580) (11,580) Capital Equipment Replacement Fund (33,314) (33,314) (44,894) (44,894) Excess of revenues over expenditures and other financing uses $ 6,56~9 67,410 Fund balance January 1 330,485 December 31 $ 397,89~5 See accompanying notes to financial statements. 72 VILLAGE OF GLEN-VIEW, ILLINOIS GNAS Redevelopment Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended December 31, 2000 Budget Actual Revenues Intergovernmental EDA grant $ $ 263,534 Interest 500 1,324 Miscellaneous 5,000 2,204 Total revenues 5,500 267,062 Expenditures General government 3,601,027 2,782,948 Highway and streets 282,498 3,601,027 3,065,446 Excess (deficiency) of revenues over expenditures (3,595,527) (2,798,384) Other financing sources (uses) Operating transfers in GNAS Bond Fund 3,627,217 2,060,000 Special Tax Allocation Fund 2,185,000 Operating transfers (out) General Fund (2,000) (2,000) Illinois Municipal Retirement Fund (31,900) (31,900) Capital Equipment Replacement Fund (22,800) (22,800) 3,570,517 4,188,300 Excess (deficiency) of revenues and other financIng sources over expenditures and other financing uses $ (25,010...~) 1,389,916 Fund balance January (1,385,304) 1 December 31 $ 4,61~2 See accompanying notes to financial statements. 73 VILLAGE OF GLENVIEW, ILLINOIS GNAS Redevelopment Fund Administration Department Schedule of Expenditures - Budget and Actual Year Ended December 31, 2000 Budget Actual General government Administration Regular salaries $ 438,391 $ 432,538 Overtime salaries 9,600 2,239 Temporary salaries 18,160 Longevity pay 2,941 2,940 Contractual professional services 2,528,422 1,920,777 Postage 28,600 9,050 Printing, binding, and publication 65,000 36,308 Dues, subscriptions, memberships 7,130 3,560 Telephone and telegraph 22,200 27,044 Maintenance of equipment 7,100 3,126 Maintenance of building/improvements 29,800 19,130 Rentals 25,200 17,716 Travel expense 47,000 19,148 Training 7,000 4,203 Office supplies 13,500 27,092 Maintenance materials 1,200 1,220 Small tools and equipment 1,000 1,002 Power and light 48,000 12,119 Heating 24,000 3,181 Uniform allowance 520 210 Books, pamphlets, and materials 600 1,323 Cleaning supplies 2,500 1,215 Operating materials and supplies 45,000 9,738 Computer supplies 2,200 1,189 FICA payments 28,725 33,296 Employee welfare 2,000 2,970 Transfer to Machinery and Equipment Repair Fund 5,471 9,888 Transfer to Capital Equipment Replacement Fund 22,800 22,800 Insurance 169,417 169,417 Other operational expenses 4,200 2,284 Credit card processing fee 550 Buildings/improvements to buildings 10,000 137 Machinery and equipment 5,600 8,888 3,623,827 2,805,748 (Continued) 74 VILLAGE OF GLENVIEW, ILLINOIS GNAS Redevelopment Fund Administration Department Schedule of Expenditures - Budget and Actual Year Ended December 31, 2000 Budget Actual General government (Cont.) Less Transfer to Capital Equipment Replacement Fund $ 22,800 $ 22,800 Total general government 3,601,027 2,782,948 Highway and Streets EDA Grant Road design 278,053 Storm water design 4,445 Total highway and streets 282,498 Total expenditures $ 3,601,02~7 $ 3,065,446 75 VILLAGE OF GLENVIEW, ILLINOIS GNAS Caretaker Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended December 31, 2000 Budget Actual Revenues Interest $ 1,675 $ 174 Other Utilities reimbursement 3,928 Total revenues 1,675 4,102 Expenditures General government 2,347,772 213,346 Excess (deficiency) of revenues over expenditures (2,346,097) (209,244) Other financing sources (uses) Operating transfers in GNAS Bond Fund Series 1995 Fund 1,041,052 164,500 Special Tax Allocation Fund 148,000 Operating transfers (out) General Fund (2,000) (2,000) Illinois Municipal Retirement Fund (16,530) (16,530) Capital Equipment Replacement Fund (48,250) (48,250) 974,272 245,720 Excess (deficiency) of revenues and other financing sources over expenditures and other financing uses $ (1,371,825) 36,476 Fund balance January 1 (31,669) December 31 $ 4,807 See accompanying notes to financial statements. 76 VILLAGE OF GLENVIEW, ILLINOIS GNAS Caretaker Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 2000 Budget Actual General government Overhead Regular employees salaries $ 10,000 $ 3,136 Overtime salaries 5,000 Temporary salaries 5,000 179 Contractual professional services 1,000 Power and light 2,000 Heating 2,000 205 Telephone and telegraph 1,000 Dues subscription members 1,000 Maintenance of equipment 10,000 Maintenance of building/improvements 10,000 11,602 Rentals 1,000 Uniform allowance 5,000 Office supplies 1,000 Small tools and equipment 500 37 Computer supplies 1,000 FICA payments 16,000 5,221 Utility reimbursement 8,000 Insurance 22,200 22,200 93,700 50,580 Street maintenance Regular employees salaries 10,000 1,177 Overtime salaries 5,000 1,452 Temporary salaries 5,000 15 Maintenance materials - building 1,000 Small tools and equipment 500 418 Computer supplies 1,000 22,500 3,062 Traffic Regular employees salaries 10,000 5,500 Overtime salaries 5,000 180 Temporary salaries 5,000 201 Power and light 110,000 4,807 Maintenance of equipment 16,000 9,554 Maintenance of building/improvements 21,500 Rentals 500 Sign supplies 4,150 4,402 Small tools and equipment 1,000 124 Operational materials and supplies 1,000 174,150 24,768 (Continued) VILLAGE OF GLENVIEW, ILLINOIS GNAS Caretaker Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 2000 Budget Actual Storm water management Regular employees salaries $ 10,000 $ 6,212 Overtime salaries 5,000 1,745 Temporary salaries 5,000 295 Maintenance of building/improvements 7,000 Maintenance materials and equipment 6,700 2,228 Small tools and equipment 1,000 1,611 34,700 12,091 Snow and ice control Regular employees salaries 10,000 2,527 Overtime salaries 5,000 1,042 Temporary salaries 5,000 97 Operational materials and supplies 10,822 5,822 30,822 9,488 Forestry Regular employees salaries 10,000 1,906 OvertSme salaries 5,000 Temporary salaries 5,000 323 Contractual professional services 500 Maintenance of equipment 1,200 549 Maintenance materials and equipment 500 926 Small tools and equipment 2,800 3,4,31 Operational materials and supplies 500 17 25,500 7,152 Grounds Regular employees salaries 10,000 4,503 Overtime salaries 5,000 760 Temporary salaries 5,000 45 Contractual professional services 5,000 Maintenance of building/improvements 85,000 13,972 Small tools and equipment 500 101 Operational materials and supplies 243,000 1,657 353,500 21,038 Great park maintenance Regular employees salaries 230,000 348 Overtime salaries 5,000 62 salaries 5,000 Temporary Contractual professional services 5,000 13,467 Power and light 15,000 Maintenance of equipment 20,000 Maintenance of building/improvements 5,000 3,948 (Continued) 78 VILLAGE OF GLENVIEW, ILLINOIS GNAS Caretaker Fund Schedule of Expenditures ~ Budget and Actual Year Ended December 31, 2000 Budget Actual Great park maintenance (Cont.) Training $ 1,200 $ 698 Books pamphlets materials 1,000 Maintenance materials and equipment 2,000 Small tools and equipment 2,000 Operational materials and supplies 245,000 6,575 536,200 25,098 Lake management Regular employees salaries 10,000 569 Overtime salaries 5,000 Temporary salaries 5,000 Contractual professional services 25,000 Maintenance of equipment 5,000 Maintenance of building/improvements 147,500 70 Training 2,500 Books pamphlets materials 1,000 Small tools and equipment 2,000 Operational materials and supplies 332,000 Machinery or equipment 235,000 11,045 770,000 11,684 Prairie management Regular employees salaries 10,000 1,058 Overtime salaries 5,000 Temporary salaries 5,000 Contractual professional services 10,000 Power and light 5,000 Maintenance of equipment 10,000 Maintenance of building/improvements 30,000 Training 2,500 Books pamphlets materials 2,500 Small tools and equipment 1,000 Operational materials and supplies 5,000 171 86,000 1,229 Chapel maintenance Regular employees salaries 10,000 33 Overtime salaries 5,000 Temporary salaries 5,000 Contractual professional services 5,000 Power and light 16,000 6,795 Heating 1,800 Maintenance of equipment 3,000 (Continued) 79 VILLAGE OF GLENVIEW, ILLINOIS GNAS Caretaker Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 2000 Budget Actual Chapel maintenance (Cont.) Maintenance of building/improvements $ 5,100 $ Office supplies 1,000 Small tools and equipment 1,000 Computer supplies 1,000 53,900 6,828 Water distribution system Regular employees salaries 10,000 20,521 Overtime salaries 5,000 7,313 Temporary salaries 5,000 437 Contractual professional services 2,000 144 Power and light 10,000 Heating 1,500 Water purchases 50,000 Maintenance of building/improvements 24,000 112 Cleaning and household supplies 100 Maintenance materials and equipment 1,000 Maintenance materials building/improvements 4,200 1,007 Operational materials and supphes 3,000 40 115,800 29,574 Sanitary sewer system Regular employees salaries 10,000 4,886 Overtime salaries 5,000 1,013 Temporary salaries 5,000 715 Contractual professional services 28,000 322 Maintenance of equipment 2,898 Maintenance of building/improvements 1,000 Maintenance materials and equipment 1,000 188 Operational materials and supplies 1,000 732 51,000 10,754 Total expenditures $ 2,347,772 $ 213,346 ao I I I I DEBT SERVICE FUNDS I Corporate Purpose Bond Series of 1993 - This issue in the amount of $7,635,000 was sold to i finance various capital projects throughout the Government including, but not limited to, the public works garage, various street projects, and capital purchases. i 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. Corporate Purpose Bond Series of 1995 - This issue in the amount of $500,000 was sold to finance the construction of a Sewer Lift Station and other sewer system improvements. I Corporate Purpose Bond Series of 1996 - This issue in the amount of $8,435,000 was sold to finance General Obligation Bond Anticipation Bonds that matured in 1996. I Corporate Purpose Bond Series of 1998 - These issues in the amounts of $10,000,000 of Series A and $24,400,000 of Series B were sold to finance the development of the GIenview i Naval Air Base. Corporate Purpose Bond Series of 2000 - This issue in the amount of $4,970,000 was sold to Ifinance various capital improvements throughout the Village. ! I I I I i I I I I I I I ! I i I I I I VILLAGE OF GLENVIEW, ILLINOIS Debt Service Funds Combining Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual Year Ended December 31, 2000 (with comparative totals for 1999) (See Following Page) I I I I I i I I I I I I I I I I I I I CAPITAL PROJECTS FUNDS Capital Equipment Replacement Fund - The Capital Equipment Replacement Fund is used to account for the funds annually set aside for the eventual replacement of certain capital equipment. Capital Projects Fund - The Capital Projects Fund is used to account for revenues and expenditures involved with all other capital improvements throughout the Government. Village Permanent Fund - This fund is used to account for projects not related to the Glenview Naval Air Base and will transfer a portion of land sales revenues to retire the debt service for the 1996 General Obligation Bonds. Bond Fund Series 1993 - The Bond Fund Series 1993 is used to account for the proceeds received from the Corporate Purpose Bond Series of 1993. GNAS Bond Fund Series 1995 - This fund is used to account for various development and other projects related to the Glenview Naval Air Base and financed with the General Obligation Bond Anticipation Bond Series of 1995. Glen Land Sales Fund - This fund is used to account for grant funds, land sales, and property tax revenues (via the Tax Increment Finance District) related to the Glenview Naval Air Base. 2000 Project Fund - This fund is used to account for the funds derived from the 2000 General Obligation Bond Issue. I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I ENTERPRISE FUNDS Waterworks Fund - The Waterworks Fund is used to account for the provision of water and sewer service to the residents of Glenview. All activity necessary to provide such services is accounted for in this fund including, but not limited to, administration (Director of Public Works), operation, maintenance, financing and related debt service, and billing and collection. Wholesale Water Fund - The Wholesale Water Fund is used to account for the provision of water service to the Citizens Utility Co. enabling the utility to receive Lake Michigan water. North Maine Water and Sewer Fund - The North Maine Water and Sewer Fund is used to account for all financial activity related to the Village providing water and sewer service to an unincorporated area southwest of the Village. This area was formerly served by the North Suburban Public Utilities Company. Sewerage Fund - The Sewerage Fund is used to account for the funds necessary to provide sanitary sewer service to both incorporated and unincorporated Village of GIenview 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 I I I I I I I I I I I I I I i I I I VILLAGE OF GLENVIEW, ILLINOIS Enterprise Funds Combining Balance Sheet December 31, 2000 (with comparative 1999) totals for discount 08,157) (45,285) (63,442) (66,121) See accompanying notes to financial statements. 88 VILLAGE OF GLENVIEW, ILLINOIS Enterprise Funds Combining Statement of Revenues, Expenses, and Changes in Retained Earnings Year Ended December 31, 2000 (with comparative totals for 1999) North Maine Wholesale Water and Commuter Totals Waterworks Water Sewer Sewerage Parking Lot ~ 1999 Opera~ng Charges for services Water and sewer chaxges $ 6,168,485 $ 1,468,681 $ 5,028,564 $ 849,188 $ 20,862 $ 13,535,780 $ 13,837,346 Water meter repaix charges 158 158 Opera~ng expenses Depreciation and (expenses) fiscal charges f 147,934) (4Z2,042) (569,976) (606~320) 155,165 (100,786) (370,902) 20,604 9,588 (286,331) (365,674) Operating txansfers (out) 12,237,284) (423,360) { 578,449) (584,941) (37,000) (3,861,034) (2,675,117) (1~97,284) (423,360) (578,449) (584,941) (37,000) (3,521,034) (1,604,334) Net ~ncome (loss) 38,629 (25,848) (311,730) (92,383) 46,050 (245,2~2) 2,597,314 See accompanying notes to financial statements. 89 VILLAGE OF GLENVIEW, ILLINOIS Enterprise Funds Combining Schedule of Changes in Contributed Capital Year Ended December 31, 2000 (with comparative totals for 1999) Totals Waterworks Sewerage 2000 1999 Increases Contribution of capital $ $ 1,290,144 $ 1,290,144 $ 200,000 Decreases - Net increase - 1,290,144 1,290,144 200,000 Contributed capital January 1 2,586,154 891,089 3,477,243 3,277,243 December 31 $ 2,586,154 $ 2,181,233 $ 4,767,387 $ 3,477,243 90 VILLAGE OF GLENVIEW, ILLINOIS Waterworks Fund Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual Year Ended December 31, 2000 Budget Actual Operating revenues Charges for services Water charges $ 5,914,480 $ 6,168,485 Water meter repair charges 158 Water connection charges 100,000 123,569 Water meters and remote readers 50,000 121,684 Miscellaneous Late payment fees 60,000 67,031 Brass fittings 10,000 31,428 Water for construction 20,000 43,417 Turn on charge 5,000 5,910 Recapture agreements 10,000 1,133 Other 1,500 22,655 Total operating revenues 6,170,980 6,585,470 Operating expenses excluding depreciation Administration 1,313,290 250,929 Operations Supply and metering 2,608,405 2,638,812 Pumping station-east 248,716 216,553 Pumping station-west 184,160 140,989 Distribution system 667,005 600,867 Overhead 544,312 388,057 Total operating expenses excluding depreciation 5,565,888 4,236,207 Operating income before depreciation 605,092 2,349,263 Depreciation 568,515 Operating income 605,092 1,780,748 Nonoperating revenues Interest income 92,500 155,165 Income before operating transfers 697,592 1,935,913 Operating transfers in (out) General Fund (500,750) (500,750) Wholesale Water Fund 320,000 320,000 Illinois Municipal Retirement Fund (69,600) (69,600) N. Maine Water/Sewer Fund 20,000 20,000 Corporate Purpose Bonds 1994 Fund (457,948) (457,948) Capital Projects Fund (500,000) (1,208,986) (1,188,298) (1,897,284) Net income (loss) $ (490,706) 38,629 Retained earnings January 1 16,628,339 December 31 $ 16,666,968 See accompanying notes to financial statements. 92 VILLAGE OF GLENVIEI4r, ILLINOIS Waterworks Fund Schedule of Operating Expenses - Budget and Actual Year Ended December 31, 2000 Budget Actual Administration Contractual professional services $ 1,000 $ 2,107 Printing, binding, and publication 300 1,778 Postage 13,500 13,918 Computer supplies 1,500 FICA payment 69,600 59,532 Insurance 127,390 127,390 Improvements other than building 1,100,000 642,191 1,313,290 846,916 Less nonoperating expenses Fixed assets capitalized 595,987 Total administration 1,313,290 250,929 Operations Supply and metering Regular salaries 109,307 75,310 Overtime salaries 1,524 14,314 Temporary salaries 324 508 Contractual professional services 86,000 41,069 Water 2,357,050 2,458,947 Maintenance of buildings 6,000 2,196 Operational materials and supplies 48,200 46,468 Total supply and metering 2,608,405 2,638,812 Pumping station-east Regular salaries 41,290 32,499 Overtime salaries 8,006 16,105 Temporary salaries 170 362 Contractual professional services 17,350 11,340 Power and light 110,000 126~387 Heating 6,000 3,755 Telephone 4,000 3,745 Maintenance of building 25,500 13,362 Cleaning and household supplies 100 133 Maintenance materials - equipment 3,000 1,133 Maintenance materials - building 1,000 2,002 Operating materials and supphes 7,300 5,730 Machinery or equipment 25,000 Total pumping station-east 248,716 216,553 (Continued) 93 VILLAGE OF GLENVIEW, ILLINOIS Waterworks Fund Schedule of Operating Expenses - Budget and Actual Year Ended December 31, 2000 Budget Actual Operations (Continued) Pumping station-west Regular salaries $ 18,990 $ 25,653 Overtime salaries 4,186 9,768 Temporary salaries 34 740 Contractual professional services 12,200 3,314 Power and light 111,500 79,458 Heating 4,000 3,246 2,000 2,068 Telephone Maintenance of building 20,500 10,213 Cleaning and household supplies 100 99 - equipment 5,000 3,921 Maintenance materials Maintenance materials - building 750 98 Operating materials and supplies 4,900 2,411 Total pumping station-west 184,160 140,989 Distribution system 339,596 299,718 Regular Overtime salaries 53,276 76,676 Temporary salaries 10,833 8,980 professional services 33,000 12,933 Contractual Maintenance of equipment 500 Maintenance of buildings 115,000 103,162 Rentals 300 Sign supplies 1,500 11 Maintenance materials - buildings 90,500 74,518 Small tools & equipment 174 Operating materials and supplies 10,000 17,477 Machinery and equipment 12,500 7,218 Total distribution system 667,005 600,867 (Continued) 94 VILLAGE OF GLENVIEIN, ILLINOIS Waterworks Fund Schedule of Operating Expenses - Budget and Actual Year Ended December 31, 2000 Budget Actual Operations (Continued) Overhead Regular salaries $ 228,825 $ 214,621 Overtime salaries 683 547 Temporary salaries 1,512 2,004 Longevity pay 5,428 5,427 Postage 300 167 Telephone 1,100 5,459 Dues, subscriplions, and memberships 3,230 2,200 Maintenance of equipment 5,000 5,078 Rentals 20,900 334 Travel expense 2,500 770 Training 6,600 2,981 Uniform allowance 7,855 7,886 Office supplies 750 705 Books, pamphlets, and materials 300 80 Small tools and equipment 5,850 10,998 Operational materials and supplies 2,000 597 Computer supplies 1,800 93 Employee welfare 1,000 1,632 Equipment replacement 117,482 Equipment repairs 128,097 124,650 Machinery and equipment 3,100 1,828 Total overhead 544,312 388,057 Total operating expenses excluding depreciation $ 5,565,888 $ 4,236,207 95 VILLAGE OF GLENVIEW, ILLINOIS Wholesale Water Fund Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual Year Ended December 31, 2000 Budget Actual Operating revenues Water sales $ 1,425,000 $ 1,468,681 Operating expenses excluding depreciation Operations Supply and metering 813,425 826,645 Pumping station 46,218 71,255 Distribution system 2,105 9,667 Total operating expenses 861,748 907,567 Operating income before depreciation 563,252 561,114 Depreciation and amortization 62,816 Operating income 563,252 498,298 Nonoperating revenues (expenses) Interest income 36,500 47,148 Interest expense (147,524) (147,934) Bond principal (120,000) (231,024) (100,786) Income before operating transfers 332,228 397,512 Operating transfers in (out) Waterworks Fund (320,000) (320,000) Illinois Municipal Retirement Fund (1,360) (1,360) General Fund (102,000) (102,000) (423,360) (423,360) Net (loss) $ (91,132) (25,848) Retained earnings January I 759,400 December 31 $ 733,552 See accompanying notes to financial statements. 97 VILLAGE OF GLENVIEW, ILLINOIS Wholesale Water Fund Schedule of Operating Expenses - Budget and Actual Year Ended December 31, 2000 Budget Actual Operations Supply and metering Water purchases $ 803,000 $ 818,339 Maintenance of buildings 1,000 FICA payments 1,325 1,106 Operational material and supplies 600 Paying agent fees 1,500 1,200 Insurance 6,000 6,000 Total supply and metering 813,425 826,645 Pumping station Regular salaries 9,167 6,892 Overtime salaries 4,484 4,263 Temporary salaries 1,517 19 Contractual professional services 200 72 Power and light 29,000 58,090 Telephone 500 452 Maintenance of buildings 750 Operational materials and supplies 100 967 Equipment rentals 500 500 Total pumping station 46,218 71,255 Distribution system Regular salaries 425 2,159 Overtime salaries 50 455 Temporary salaries 630 672 Contractual professional service 1,000 6,381 Total distribution system 2,105 9,667 Total operating expenses excluding depreciation $ 861,748 $ 907,567 98 VILLAGE OF GLENVIEIq, ILLINOIS North Maine Water and Sewer Fund Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual Year Ended December 31, 2000 Budget Actual Operating revenues Charges for services Water charges $ 4,895,000 $ 4,713,820 350,000 314,744 Sewer charges Miscellaneous New water meters 800 2,772 Late payment fees 40,000 44,864 Tum on charge 2,000 200 5,287,800 5,076,400 Operating expenses excluding depreciation Administration 369,150 374,945 Operations Supply and metering 3,545,896 3,404,663 Pumping station 73,142 57,939 Distribution system 350,176 276,059 Collection system 142,509 72,268 Total operating expenses 4,480,873 4,185,874 Operating income before depreciation 806,927 890,526 Depreciation 252,905 Operating income 806,927 637,621 Nonoperating revenues (expenses) Interest income 40,000 51,140 Interest expense (422,573) (422,042) Bond principal (210,000) Note principal (82,072) (674,645) (370,902) Income before transfers 132,282 operating 266,719 Operating transfers (out) General Fund (292,674) (292,674) Waterworks Fund (20,000) (20,000) Capital Equipment Replacement Fund (40,487) Capital Projects Fund (237,000) (237,000) Illinois Municipal Retirement Fund (28,775) (28,775) (618,936) (578,449) Net (loss) $ (486,654) (311,730) Retained earnings January 1 (110,109) December 31 See accompanying notes to financial statements. 100 VILLAGE OF GLENVIEW, ILLINOIS North Maine Water and Sewer Fund Schedule of Operating Expenses - Budget and Actual Year Ended December 31, 2000 Budget Actual Administration Regular salaries $ 115,819 $ 107,848 Overtime salaries 203 215 Temporary salaries 252 2,617 Longevity pay 905 905 Contractual professional services 45,075 29,336 Acquisition costs 44,676 Cost of issuance 1,472 Printing, binding, and publication 2,000 576 Power and light 175 Heating 1,841 Postage 27,600 18,562 Telephone and telegraph 1,500 3,590 Maintenance of equipment 909 Uniform allowance 2,750 625 FICA payments 35,625 26,089 Employee welfare 525 Equipment repairs 18,396 32,611 Rentals 35,700 24,514 Office supplies 1,500 2,304 Computer supplies 2,500 Machinery or equipment 4,000 1,880 Paying agent fees 1,200 600 Insurance 73,600 73,600 Total administration 369,150 374,945 Operations Supply and metering Regular salaries 32,000 72,836 Overtime salaries 1,821 7,765 Temporary salaries 31,075 7,315 Water purchases 3,315,000 3,257,739 Maintenance of building and improvements 6,000 4,284 Operating materials and supplies 10,000 768 Meter replacement 150,000 53,956 Total supply and metering 3,545,896 3,404,663 Pumping station Regular salaries 16,000 17,234 Overtime salaries 4,554 5,641 Temporary salaries 288 14 Contractual professional service 18,600 10,092 Operational expense 3,000 1,510 Power and light 13,000 6,721 Telephone 2,600 12,082 Maintenance of buildings 5,000 3,742 Pump repair 10,000 900 Cleaning and household supplies 100 3 Total pumping station 73,142 57,939 (Continued) 101 VILLAGE OF GLENVIEI8/, ILLINOIS North Maine Water and Sewer Fund Schedule of Operating Expenses - Budget and Actual Year Ended December 31, 2000 Budget Actual Operations (Continued) Distribution system Regular salaries $ 78,000 $ 62,959 Overtime salaries 23,833 22,110 Temporary salaries 4,243 5,610 Contractual professional service 30,000 20,992 Maintenance of building 52,500 37,398 Maintenance materials - building 46,300 26,492 Rentals 300 876 Operational materials and supplies 5,000 8,206 improvements 100,000 92,863 System Machinery and equipment 10,000 7,218 350,176 284,724 Less nonoperating expenses Fixed assets capitalized 8,665 Total distribu~fion system 350,176 276,059 Collection system Regular salaries 44,471 22,487 Overtime salaries 3,516 5,161 Temporary salaries 1,972 945 Contractual professional services 3,000 Maintenance of building 30,500 16,260 Maintenance materials - equipment 4,800 4,386 Small tools and equipment 250 Operating materials and supplies 4,000 366 System improvements 50,000 22,663 Total collection systems 142,509 72,268 Total operating expenses excluding depreciation $ 4,480,873 $ 4,185,874 102 VILLAGE OF GLENVIEW, ILLINOIS Sewerage Fund Statement of Revenues, Expenses, and Changes in Retained Eamings- Budget and Actual Year Ended December 31, 2000 Budget Actual Operating revenues Charges for services Sewer charges $ 742,522 $ 849,188 Sewer connection charges 7,500 15,115 Late payment fees 9,840 Miscellaneous - 74 Total operating revenues 750,022 874,217 Operating expenses excluding depreciation Administration 249,478 65,063 Operations Pumping station 38,985 18,128 Collection 203,569 180,416 Total operating expenses 492,032 263,607 Operating income before depreciation 257,990 610,610 Depreciation 138,656 Operating income 257,990 471,954 Nonoperating revenue Interest income 10,000 20,604 Income before operating transfers 267,990 492,558 Operating transfers (out) (68,500) (68,500) General Fund Illinois Municipal Retirement Fund (13,975) (13,975) Capital Projects Fund (342,955) (392,955) 1994 G.O. D/S (78,492) (78,492) 1995 G.O. D/S (104,200) (31,019) (608,122) (584,941) Net (loss) $ (340,132) (92,383) Retained earnings January 1 3,888,659 December 31 $ 3,796,276 See accompanying notes to financial statements. 104 VILLAGE OF GLEN-VIEW, ILLINOIS Sewerage Fund Schedule of Operating Expenses - Budget and Actual Year Ended December 31, 2000 Budget Actual Administration FICA payments $ 13,450 $ 13,308 Equipment replacement 24,036 Equipment repairs and fuel 39,302 41,110 Improvements other than building 162,045 Insurance 10,645 10,645 Total administration 249,478 65,063 Operations Pumping Station General Regular salaries 8,402 4,570 Overtime salaries 1,012 949 Temporary salaries 169 74 Power and light 3,000 1,735 Heating 1,000 862 Telephone and telegraph 800 755 Maintenance of equipment 5,000 Operational materials and supplies 1,200 20,583 8,945 Heatherfield Lift Station Regular salaries 8,402 4,906 Overtime salaries 58 Temporary salaries 500 70 Power and light 4,000 Heating 1,500 Telephone and telegraph 800 Maintenance of equipment 2,000 2,411 Operational materials and supplies 1,200 1,738 18,402 9,183 Total pumping station 38,985 18,128 (Continued) 105 VILLAGE OF GLENVIEW, ILLINOIS Sewerage Fund Schedule of Operating Expenses - Budget and Actual Year Ended December 31, 2000 Budget Actual Operations (Continued) Collection system Regular salaries $ 136,390 $ 138,111 Overtime salaries 7,692 19,150 Temporary salaries 6,457 6,077 Contractual professional services 10,000 328 Maintenance of equipment 3,800 435 Maintenance of buildings 13,000 3,552 Rentals 180 360 Training 800 Maintenance materials 5,000 1,141 Small tools and equipment 600 875 Operational materials and supplies 19,000 10,387 Machinery and equipment 650 - System improvements - 813,802 203,569 994,218 Less nonoperating expenses Fixed assets capitalized 813,802 Total collection system 203,569 180,416 Total operating expenses $ 492,032 $ 263,607 106 VILLAGE OF GLENVIEW, ILLINOIS Commuter Parking Lot Fund Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual Year Ended December 31, 2000 Budget Actual Operating revenues Charges for services Meter fees $ 20,000 $ 20,862 Parking decals 245,000 190,769 Miscellaneous 5,000 5,700 Total operating revenues 270,000 217,331 Operating expenses Administration 203,331 129,262 Operations 29,700 6,223 Depreciation 8,384 Total operating expenses 233,031 143,869 Operal~Lng income 36,969 73,462 Nonoperating revenue Interest income 1,500 9,588 Income before operating transfers 38,469 83,050 Operating transfers (out) General Fund (32,000) (37,000) Net income $ 6,469 46,050 Retained eamings January 1 194,545 December 31 $ 240,595 See accompanying notes to financial statements. 108 VILLAGE OF GLENVIEW, ILLINOIS Commuter Parking Lot Fund Schedule of Operating Expenses - Budget and Actual Year Ended December 31, 2000 Budget .Actual Administxation Regular employee salaries $ 26,601 $ 16,569 Overtime salaries 911 1,274 salaries 5,169 5,448 Temporary Contractual professional services 44,500 41,787 Printing, binding, and publications 500 Power and light 13,000 12,565 Heating 3,600 2,059 Postage 700 Telephone and telegraph 500 1,769 Maintenance of buildings 17,450 11,829 Rentals 49,500 25,761 Cleaning/household supplies 1,500 Maintenance materials 2,000 956 Small tools and equipment 400 100 Operations materials 14,000 8,145 Machinery and equipment 22,000 Insurance 1,000 1,000 Total administration 203,331 129,262 Operations Regular employee salaries 5,000 4,833 Contractual professional services 5,500 Power and light 6,500 Telephone and telegraph 500 Maintenance of equipment 4,000 Maintenance of buildings 2,500 Cleaning/household supplies 500 Small tools and equipment 200 Operations materials 5,000 1,390 Total operations 29,700 6,223 Total operating expenses $ 233,031 $ 135,485 109 I I I I I I i I I I I I I I I I I I I INTERNAL SERVICE FUNDS Municipal Equipment Repair Fund - The Municipal Equipment Repair Fund is used to account for the costs of repairing and maintaining all vehicles of the Government. These costs include labor, material, fuel, and fixed overhead of the Government's repair facility. Insurance Fund - The Insurance Fund is used to account for the financial activity of the Government's entire insurance program. In addition to conventional primary insurance, the Village is a member of the High-Level Excess Liability Pool (HELP), which provides excess liability coverage. Also, the Government provides health and life insurance by participating in the Intergovernmental Personnel Benefit Cooperative (IPBC). I I I ! I I I I I I I I I I I I I I I VILLAGE OF GLENVIEW, ILLINOIS Internal Service Funds Combining Balance Sheet December 31, 2000 (with comparative totals for 1999) Municipal Equipment Totals Repair Insurance 2000 1999 ASSETS Current assets Cash $ 91,285 $ 628,317 $ 719,602 $ 384,063 Investments 228,575 2,644,926 2,873,501 2,685,062 Receivables Accounts 958 2,977 3,935 11,228 Accrued interest 44,156 Prepaid expenses 198,183 198,183 Due from other funds 6,000 6,000 105,800 Deposits 934,800 934,800 1,249,085 Total assets $ 326,81~8 $ 4,409,20~3 $ 4,736,02~1 $ 4,479,394 LIABILITIES AND RETAINED EARNINGS Current liabilities Accounts payable $ 101,220 $ 406,250 $ 507,470 $ 34,102 Claims payable 269,622 269,622 203,095 Due to other funds 250,663 Total liabilities 101,220 675,872 ~'/'/,092 487,860 Retained earnings 225,598 3,733,331 3,958,929 3,991,534 Total liabilities and retained earnings $ 326,81~8 $ 4,409,20~3 $ 4,736,021 $ 4,479,394 See accompanying notes to financial statements. 111 VILLAGE OF GLENVIEW, ILLINOIS Internal Service Funds Combining Statement of Revenues, Expenses, and Changes in Retained Earnings Year Ended December 31, 2000 (with comparative totals for 1999) Municipal Equipment Totals Repair Insurance 2000 1999 Operating revenues Charges for services $ 935,802 $ 2,777,058 $ 3,712,860 $ 3,605,615 Insurance recoveries 26,397 26,397 10,582 Miscellaneous 60,298 269,816 330,114 340,237 Total operating revenues 1,022,497 3,046,874 4,069,371 3,956,434 Operating expenses Operations 938,546 3,281,718 4,220,264 3,383,552 Operating income (loss) 83,951 (234,844) (150,893) 572,882 Nonoperafing revenues Interest income 8,793 121,095 129,888 116,932 Net income (loss) before operating transfers 92,744 (113,749) (21,005) 689,814 Operating transfers (out) Capital Equipment Replacement Fund (11,600) (11,600) (67,193) Net income (loss) 81,144 (113,749) (32,605) 622,621 Retained earnings January 1 144,454 3,847,080 3,991,534 3,368,913 December31 $ 225,59~8 $ 3,733,331 $ 3,958,92~9 $ 3,991,534 See accompanying notes to financial statements. 112 VILLAGE OF GLENVIEW, ILLINOIS Internal Service Funds Combining Statement of Cash Flows Year Ended December 31, 2000 (with comparative totals for 1999) Municipal Equipment Totals Repair Insurance 2000 1999 Cash flows from operating activities Operating income (loss) $ 83,951 $ (234,844) $ (150,893) $ 572,882 Adjustments to reconcile operating income (loss) to net cash provided by (used in) operating activities Changes in assets and liabilities Accounts receivable 3,680 3,613 7,293 (4,785) Deposits 314,285 314,285 (60,469) Due from other funds 27,268 72,532 99,800 (105,800) Prepaid expenses (198,183) (198,183) 220,260 Accounts payable 75,386 397,982 473,368 (91,203) Claims payable (1,873) 68,400 66,527 (15,555) Due to other funds (94,592) (156,071) (250,663) (157,443) 267,714 ,534 357,887 93,820 361 Cash flows from non capital financing activities Operating transfer (out) (11,600) (111600) (67,193) Cash flows from investing activities Purchase of investments (128,575) (668,030) (796,605) (1,174,989) Maturities of investments 608,166 608,166 Interest 8,839 165,205 174,044 87, 265 (119,73~) 105,341 (14,395) (1,087,724) Net increase (decrease) in cash and cash equivalents (37,516) 373,055 335,539 (797,030) Cash and cash equivalents January 1 128,801 255,262 384,063 1,181,093 December 31 $ 91,285 $ 628,31~7 $ 719,602 $ 384,063 See accompanying notes to financial statements. 113 VILLAGE OF GLENVIEW, ILLINOIS Municipal Equipment Repair Fund Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual Year Ended December 31, 2000 2000 Budget Actual Operating revenues Charges for services $ 877,122 $ 935,802 Insurance recoveries 7,500 26,397 Miscellaneous 35,000 60,298 Total operating revenues 919,622 1,022,497 Operating expenses Operations 869,513 938,546 Operating income 50,109 83,951 Nonoperating revenues Interest income 1,000 8,793 Income before operating txansfers 51,109 92,744 Operating transfer (out) Capital Equipment Replacement Fund (7,500) (11,600) Net income $ 43,60~9 81,144 Retained earmngs January 1 144,454 December 31 $ 225,598 See accompanying notes to financial statements. 114 VILLAGE OF GLENVIEW, ILLINOIS Municipal Equipment Repair Fund Schedule of Operating Expenses Budget and Actual Year Ended December 31, 2000 Budget Actual Operations Regular salaries $ 315,981 $ 268,776 Overtime salaries 10,322 13,440 Temporary salaries 8,898 4,431 Longevity pay 4,410 4,409 Contractual professional services 3,000 841 Dues subscription membership 37 1,500 Maintenance of equipment 87,200 119,799 Maintenance of buildings - 247 Accident repairs 20,000 28,535 Training 3,400 2,531 Uniform allowance 8,750 6,899 Fuel 171,088 238,682 Motor vehicle supplies 55,000 68,996 Cleaning and household supplies 5,000 6,144 Maintenance materials - equipment 125,000 142,679 Maintenance materials - buildings 6,500 10,955 Small tools and equipment 4,000 2,352 FICA payments 395 Equipment repairs 6,113 5,026 Machinery and equipment 34,814 11,909 Total operations $ 869,51~3 $ 938,54~6 115 VILLAGE OF GLENVIEIq Insurance Fund Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual Year Ended December 31, 2000 Budget Actual Operating revenues Charges for services Fund charges $ 2,836,143 $ 2,777,058 Miscellaneous Insurance premium retirees 150,000 183,588 Returned premiums 53,744 Insurance recoveries 25,000 25,803 Other 6,681 175,000 269,816 Total operating revenues 3,011,143 3,046,874 Operating expenses Operations Contractual professional services - 11,600 Health insurance 2,085,763 2,377,806 Dental insurance 158,000 105,594 Excess liability 74,000 71,346 Unemployment benefits 30,000 8,086 General insurance program 330,000 353,636 PTM policy 15,710 15,708 Property/casualty claims 100,000 306,622 Workers' compensation insurance 130,000 31,320 Claims settlement 15,000 - 2,938,473 3,281,718 Operating income (loss) 72,670 (234,844) Nonoperating revenues Interest income 87,500 121,095 Net income (loss) $ 160,170 (113,749) Retained earnings January 1 3,847,080 December 31 $ 3,733,33.___~1 See accompanying notes to financial statements. 116 TRUST AND AGENCY FUNDS Expendable Trust Escrow Deposit Fund - The Escrow Deposit Fund is used to account for the funds placed on deposit with the Government by building contractors working within the Government's limits. Interest earned on escrow deposits is annually transferred to the Corporate Fund. Deposit Fund - The Deposit Fund is used to account for money on deposit with the Government being held on a temporary basis, such as security deposits for use of the Government's equipment. Police Depa~'tment Special Account Fund - The Police Department Special Account Fund is used to account for funds received from the Illinois State Police 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 Department. 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 Depa~i~ient. Agency Special Service Areas Fund - This fund accounts for various special service area bond issues. Arbitrage Rebate Fund - This fund accounts for the recording and payment of any arbitrage rebates payable. I I I I I I I I I I I I I I I I I I I VILLAGE OF GLENVIEW, ILLINOIS Pension Trust Funds Combining Statement of Plan Net Assets December 31, 2000 Police Firefighters' Pension Pension Totals ASSETS Cash and cash equivalents $ 1,363,982 $ 239,497 $ 1,603,479 Due from other funds 1,309 519 1,828 Investments, at fair value U. S. government obligations 22,266,062 36,895,140 59,161,202 Insurance contracts 3,404,219 926,988 4,331,207 Mutual funds 1,432,314 2,005,492 3,437,806 Certificates of deposit 689,775 100,000 789,775 27,792,370 39,927,620 67,719,990 Total assets 29,157,661 40,167,636 69,325,297 LIABILITIES Accounts payable 486 747 1,233 NET ASSETS HELD IN TRUST FOR PENSION BENEFITS (A schedule of funding progress for each plan is presented following the notes to financial statements) $ 29,157,17~5 $ 40,1~66,889 $ 69,322,236 See accompanying notes to financial statements. 118 VILLAGE OF GLENVIEW, ILLINOIS Expendable Trust Funds Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Year Ended December 31, 2000 (with comparative totals for 1999) Police Department Escrow Special Totals Deposit Deposit Account 2000 1999 Revenues Fines and forfeits $ $ $ 10,419 $ 10,419 $ 4,162 Interest 215,373 10,327 399 226,099 205,708 Total revenues 215,373 10,327 10,818 236,518 209,870 Expenditures Public safety 3,465 Excess of revenues over expenditures 215,373 10,327 10,818 236,518 206,405 Other financing (uses) Operating transfers (out) General Fund (190,994) (190,994) (194,993) Excess of revenues over expenditures and other financing uses 24,379 10,327 10,818 45,524 11,412 Fund balances January 1 124,782 36,080 14,847 175,709 164,297 December 31 $ 149,16~1 $ 46,40~7 $ 25,66~5 $ 221,23~3 $ 175,709 See accompanying notes to financial statements. 119 VILLAGE OF GLENVIE3N, ILLINOIS I Pension Trust Funds ! Combining Statement of Changes in Plan Net Assets Year Ended December 31, 2000 Police Firefighters' I Pension Pension Total Additions I Contributions - employer Taxes $ 427,409 $ 173,790 $ 601,199 I Contributions - plan members 386,898 398,513 785,411 Investment Income Net appreciation In fair value of I investments 3,050,660 1,705,784 4,756,444 Interest earned on investments 536,772 2,230,711 2,767,483 Total additions 4,401,739 4,508,798 8,910,537 I Deductions Pensions and refunds 869,740 1,079,533 1,949,273 I Miscellaneous Contractual professional services 4,094 9,679 13,773 Total deductions 873,834 1,089,212 1,963,046 Net increase 3,527,905 3,419,586 6,947,491 Net assets held in trust for pension I benefits January 1 25,629,270 36,747,303 62,376,573 I December 31 $ 29,157,175 $~40,166,889 $ 69,324,064 I I See accompanying notes to financial statements. I 120 I VILLAGE OF GLEN-VIEW, ILLINOIS Police Pension Fund Statement of Changes in Plan Net Assets - Budget and Actual Year Ended December 31, 2000 Budget Actual Additions Contributions - employer Property taxes $ 318,425 $ 427,409 Contributions - employees 385,000 386,898 Investment income Net appreciation in fair value of investments 3,050,660 Interest earned on investments 1,452,000 536,772 Total additions 2,155,425 4,401,739 Operating expenses Retirement pension 735,691 744,517 Widow pension 91,004 91,004 Disability pension 34,219 34,219 Miscellaneous Contractual professional services 16,100 4,094 Total deductions 877,014 873,834 Net increase $ 1,278,411 3,527,905 Net assets held in trust for pension benefits January 1 25,629,270 December 31 $ 29,157,175 See accompanying notes to finandal statements. 121 VILLAGE OF GLENVIEI, V, ILLINOIS Firefighters' Pension Fund Statement of Changes in Plan Net Assets - Budget and Actual Year Ended December 31, 2000 Budget Actual Additions Contributions - employer Taxes Property taxes $ 105,575 $ 143,165 Foreign fire insurance tax 30,000 30,625 Contributions - employees 400,000 398,513 Investment income Net appreciation in fair value of investments - 1,705,784 Interest earned on investments 2,002,500 2,230,711 Total additions 2,538,075 4,508,798 Deductions Retirement pension 1,014,001 816,468 Widow pension 50,411 50,411 Disability pension 170,924 212,654 Miscellaneous Contractual professional services 14,100 9,679 Total deductions 1,249,436 1,089,212 Net increase $ 1,288,639 3,419,586 Net assets held in trust for pension benefits January 1 36,747,303 December 31 $ 40,166,889 See accompanying notes to financial statements. 122 VILLAGE OF GLENVIEW, ILLINOIS Agency Funds Combining Statement of Changes in Assets and Liabilities Year Ended December 31, 2000 Balances Balances [anuarv 1 Additions Deductions December 31 All Funds ASSETS Cash $ 1,921,903 $ 26,351 $ 1,863,770 $ 84,484 Receivables - property taxes 143,079 7,724 135,355 Receivables - accrued interest 33,485 33,485 Total assets S 2,098,467 $ 26,351 $ 1,904,979 $ 219,839 LIABILITIES Arbitrage payable $ 1,937,233 $ 6,401 $ 1,903,656 $ 39,978 Due to bondholders 161,234 170,057 151,430 179,861 Total liabilities $ 2.098,467 $ 176,458 $ 2.055,086 $ 219,839 Special Service Areas Fund ASSETS Cash S 18,155 $ 26.351 $ $ 44,506 Receivables 143,079 7,724 135,355 $ 161,234 $ 26,351 $ 7,724 $ 179,861 LIABILITIES Due to bondholders $ 161,234 $ 170,057 $ 151,430. $ 179,861 Axbitrage Rebate Fund ASSETS Cash $ 1,903,748 $ $ 1,863,770 $ 39,978 Receivables - accrued interest 33,485 33,485 $ 1,937,233 $ $ 1,897,255 $ 39,978 LIABILITIES Arbitrage payable $ 1,937,233 $ 6,401 $ 1,903,656 $ 39,978 See accompanying notes to financial statements. 123 I I I I I I I I I I I I I I I I I I I GENERAL FIXED ASSETS ACCOUNT GROUP General fixed assets are those fixed assets used in operations accounted for in governmental funds. General fixed assets include all fixed assets of the Village not accounted for in the Enterprise Funds. I I I I I I ! I I I ! I I I I I I I I VILLAGE OF GLENVIEW, ILLINOIS General Fixed Assets Account Group Schedule of General Fixed Assets - by Source December 31, 2000 (with comparative totals for 1999) 2000 1999 GENERAL FIXED ASSETS Land $ 5,643,853 $ 5,005,095 Buildings and improvements 10,160,970 10,089,432 Equipment 8,648,664 8,522,213 Furniture 295,072 295,072 Office equipment 689,250 677,101 $ 25,437,809 $ 24,588,913 INVESTMENT IN GENERAL FIXED ASSETS General revenues $ 21,638,530 $ 20,789,634 Bond issues 3,799,279 3,799,279 $ 25,437,809 $ 24,588,913 124 VILLAGE OF GLENVIEW, ILLINOIS General Fixed Assets Account Group Schedule of Changes in General Fixed Assets - by Function and Activity Year Ended December 31, 2000 Function and Balances Balances Activity |anuary 1 Additions Retirements December 31 General government Executive $ 13,087 $ -. $ $ 13,087 Administrative 2,499,440 63,056 2,562,496 Finance 226,512 6,625 233,137 Building and grounds 498,964 88,739 47,429 540,274 Total general government 3,238,003 158,420 47,429 3,348,994 Public safety Police 1,590,039 205,642 169,723 1,625,958 Fire 3,397,034 696,564 15,000 4,078,598 Total public safety 4,987,073 902,206 184,723 5,704,556 Public works Administration 11,313,512 414,519 10,898,993 Forestry 680,960 680,960 MERF 434,497 20,207 23,000 431,704 Street division 2,144,537 409,006 2,553,543 Transportation 531,276 531,276 Total public works 15,104,782 429,213 437,519 15,096,476 Economic development 1,259,055 47,429 18,701 1,287,783 $ 24,588,91~3 $ 1,537,26~8 $ 688,37~2 $ 25,437,80~9 126 I I I I I I I I I I I I I I I I I I I GENERAL LONG-TERM DEBT ACCOUNT GROUP This separate self-balancing group of accounts includes the amount of outstanding long-term indebtedness that has not been identified as a specific fund liability of a proprietary or trust fund and that is backed by the full faith and credit of the Village of Glenview. I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I COMPONENT UNIT Component Unit (Library Fund) - The Library Fund is used to account for the resources necessary to provide the educational, cultural, and recreational activities of the Glenview Public Library. I I I I I I I I I ! I I I I I I I I I VILLAGE OF GLENVIEW, ILLINOIS Component Unit - Library Fund Combining Balance Sheet December 31, 2000 (with comparative totals for 1999) General Fixed Assets Account Totals General Fund Group 2000 1999 ASSETS Cash $ 93,642 $ $ 93,642 $ 461,105 Investments 1,465,522 1,465,522 1,191,180 Receivables Accounts 762 762 Property taxes 3,198,388 3,198,388 3,023,631 Accrued interest 25,329 Restricted assets Cash 52,373 52,373 14,464 293,349 293,349 321,320 Investments General fixed assets 5,495,766 5,495,766 5,481,722 Total assets $ 5,104,03~6 $ 5,495,76~6 $ 10,599,80~2 $ 10,518,75~1 LIABILITIES AND FUND EQUITY Liabilities Accounts payable $ 16,453 $ $ 16,453 $ Accrued payroll 31,056 31,056 30,909 Due to primary government 120,000 120,000 60,000 Deferred revenues 47,456 47,456 47,418 Deferred property taxes 3,198,388 3,198,388 3,023,631 Total liabilities 3,413,353 3,413,353 3,161,958 Fund equity Investment in general fixed assets 5,495,766 5,495,766 5,481,722 Fund balance Reserved for endowments 345,722 345,722 335,784 Unreserved 1,344,961 1,344,961 1,539,287 1,690,683 5,495,766 7,186,449 7,356,793 Total liabilities and fund equity $ 5,104,03~6 $ 5,49____~5,766 $ 10,599,80~2 $ 10,518,751 See accompanying notes to financial statements. 128 VILLAGE OF GLENVIEW, ILLINOIS Component Unit - Library Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended December 31, 2000 and Actual Only for 1999 2000 1999 Budget Actual Actual Revenues Taxes Property taxes-current $ 3,114,340 $ 2,990,803 $ 2,990,123 Property taxes - prior 160,025 485 Replacement taxes 29,000 29,000 29,000 Intergovernmental Per capita grant 35,000 47,418 47,604 Make-whole payment 47,340 Charges for services 83,500 88,159 78,341 Fines and forfeits 66,000 60,518 62,792 Interest 59,000 100,959 106,228 Miscellaneous Donations 43,114 48,877 Other 5,664 2,425 Total revenues 3,386,840 3,573,000 3,365,875 Expenditures Culture and recreation 3,579,024 3,488,166 3,227,873 Excess (deficiency) of revenues ever expenditures (192,184) 84,834 138,002 Other financing (uses) Operating transfers (out) - primary government General Fund (12,600) (12,600) (12,600) IMRF Fund (136,622) (136,622) (132,182) Capital Projects Fund (120,000) (120,000) (120,000) (269,222) (269,222) (264,782) Excess (deficiency) of revenues over expenditures and other financing uses $ (461,406) (184,388) (126,780) Fund balance January 1 1,875,071 2,001,851 December31 $ 1,690,683 $ 1,875,07~1 See accompanying notes to financial statements. 129 VILLAGE OF GLENVIEW, ILLINOIS Component Unit - Library Fund Schedule of Operating Expenditures - Budget and Actual Year Ended December 31, 2000 Budget Actual Culture and recreation Regular salaries $ 1,236,157 $ 1,198,901 Overtime salaries 74,078 Temporary salaries 790,934 720,222 Legal 3,000 298 fees Public information 17,410 16,500 Printing 8,875 5,438 Printing, binding, and publication 8,000 6,668 Power and lights 600 760 Heating 7,000 5,041 Postage 17,000 17,537 Telephone and telegraph 33,055 31,076 Dues and subscriptions 4,740 4,187 Maintenance of equipment 19,751 43,510 Maintenance of copiers 41,177 39,509 Maintenance of EDP equipment 34,000 40,267 On-line searching 65,700 58,555 Maintenance of buildings 92,490 79,360 Travel 20,250 5,592 Training 27,650 20,954 Trustee 2,500 2,101 1,000 - Personnel Director expenses 1,200 485 Library programs 27,050 26,651 Office supplies 19,650 12,352 Processing supplies 16,850 14,248 Circulation supplies 11,050 7,285 Audio visual supplies 9,300 9,590 Books, pamphlets, and materials 439,838 435,248 Periodicals 48,594 39,234 Audiovisual 50,650 49,974 Micro-form 36,639 34,112 Video tapes 30,050 32,/144 Cataloging 35,000 34,497 Contingencies 1,000 2,826 Other operating expenses 950 1,680 Machinery and equipment 15,350 42,178 F.I.C.A. payments 154,154 152,469 250,410 222,339 Insurance Total expenditures $ 3,579,024 $ 3,488,166 130 VILLAGE OF GLENVIEW, ILLINOIS Component Unit - Library Fund General Fixed Assets Account Group Schedule of General Fixed Assets - by Source December 31, 2000 (with comparative totals for 1999) 2000 1999 GENERAL FIXED ASSETS Land $ 500,000 $ 500,000 Buildings and improvements 4,125,488 4,125,488 Furniture and equipment 870,278 856,234 $ 5,495,76~6 $ 5,481,722 INVESTMENT IN GENERAL FIXED ASSETS General revenues $ 5,495,766 $ 2,381,722 Bond issues 3,100,000 $ 5,495,766 $ 5,481,722 131 VILLAGE OF GLENVIEW, ILLINOIS Combined Schedule of Cash and Inveshxtents December 31, 2000 (See Following Page) I VILLAGE OF GLENVIEW, ILLINOIS · Schedule of Insurance in Force · December 31, 2000 Specific Aggregate Expixation I Self-Insured Excess Excess Insurance Date of Type of Coverage Retention Limit Limit Carrier Policy Property, Mobile Equipment, Auto I Physical Damage $ 50,000 $ 950,000 $ 950,000 United National 12/31/01 Excess Property 1,000,000 N/A 38,431,647 Traveler's Insurance 12/31/01 General Liability, I Employee Benefits, Law Enforcement I Liability, Public Officials 100,000' 900,000 N/A United National 12/31/01 Auto Liability 100,000' 900,000 N/A United National 12/31/01 Employee Dishonesty, Crime 250,000 N/A Kemper Insurance 12/31/01 General Liability, Auto · Liability, Law Enforcement Liability, Ambulance Attendants' Liability, I Public Officials' Liability 1,000,000 10,000,000 10,000,000 High-Level Excess Liability Pool 4/30/08 Boiler and Machinery 5,000 50,000,000 50,000,000 Travelers Insurance 12/31/01 Position Surety Bonds 1 Paul T. McCarthy, Treasurer 1,000,000 1,000,000 American Motorists 12/31/01 Workers' Compensation 250,000* 50,000 50,000 United National 12/31/01 1 Excess Workers' I Compensation 300,000 Statutory Statutory Safety National 12/31/01 * - Ail retentions subject to a maximum $500,000 loss fund. I N/A - Not applicable. I I 1 133 I VILLAGE OF GLENVIEIa/, ILLINOIS Long-Term Debt Requirements Corporate Purpose Bond Series of 1992 December 31, 2000 Date of Issue April 1, 1992 Date of Maturity December 1, 2012 Authorized Issue $2,895,000 Denomination of Bonds $5,000 Interest Rates 2000 5.90% 2001 6.00% 2002 6.10% 2003 6.20% 2004 6.30% 2005 6.40% 2006 6.50% 2007-2008 6.55% 2009-2012 6.60% 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 [une 1 Amount Dec. 1 Amount 2001 2000 145-169 $ 125,000 $ 140,444 $ 265,444 2001 $ 70,222 2001 $ 70,222 2002 2001 170-195 130,000 132,944 262,944 2002 66,472 2002 66,472 2003 2002 196-224 145,000 125,014 270,014 2003 62,507 2003 62,507 2004 2003 225-254 150,000 116,024 266,024 2004 58,012 2004 58,012 2005 2004 255-286 160,000 106,574 266,574 2005 53,287 2005 53,287 2006 2005 287-320 170,000 96,334 266,334 2006 48,167 2006 48,167 2007 2006 321-366 180,000 85,284 265,284 2007 42,642 2007 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 438481 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 $ 2.175.000 $ 1.032.858 $ 3.207.858 $~fi.,429 $ 516.429 Note: The above bond issue is to be retired annually by Wholesale Water Fund. 134 VILLAGE OF GLENVIEW, ILLINOIS I Long-Term Debt Requirements Corporate Purpose Bond Series of 1993 I December 31, 2000 Date of Issue May 1, 1993 I Date of Maturity December 1, 2005 Authorized Issue $7,635,000 Denomination of Bonds $5,000 I Interest Rates 2001 4.60% 2002 4.60% 2003 4.60% I 2004 4.60% 2005 4.70% Interest Dates June 1 and December 1 I Principal Maturity Date December 1 Payable at American National Bank and Trust Company of Chicago I CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS I Tax I Fiscal Levy Bond ......... Tax Lew lnterest Due on Year Year Numbers Principal Interest Totals ~une 1 Amount Dec. 1 Amount I 2001 2000 497-636 $ 700,000 $ 238,476 $ 938,476 2001 $ 119,238 2001 $ 119,238 2002 2001 637-794 790,000 206,276 996,276 2002 103,138 2002 103,138 2003 2002 795-1019 1,125,000 169,936 1,294,936 2003 84,968 2003 84,968 I 2004 2003 1020-1298 1,195,000 118,186 1,313,186 2004 59,093 2004 59,093 2005 2004 1259-1527 1,345~000 63,216 1,408~216 2005 31,608 2005 31,608 $ 5.155.000 $ 796.090 $ 5.951.090 $ 398.045 $ 398.045 I Note: Debt service is payable from the Debt Service Fund using monies received from a I property tax levy. I 1 I I 135 I VILLAGE OF GLENVIEW, ILLINOIS Long-Term Debt Requirements Corporate Purpose Bond Series of 1994 December 31, 2000 Date of Issue September 15, 1994 Date of Maturity December 1, 2004 Authorized Issue $8,040,000 Denomination of Bonds $5,000 Interest Rates 2001 4.90 % 2002 5.00% 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 on Year Year Numbers Principal Interest Totals [une 1 Amount Dec. 1 Amount 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 59,472 2002 59,473 2003 2002 1368-1485 590,000 60,945 650,945 2003 30,473 2003 30,472 2004 2003 1486-1608 605,000 30,854 635,855 2004 15,427 2004 15,427 $ 3.510,000 $ 386.284 $ 3.896.285 $ 193.142 $ 19~.142 Note: Debt service is payable from the Debt Service Fund using monies received from a property tax levy and monies transferred from the Waterworks and Sewerage Funds. 136 VILLAGE OF GLENVIEW, ILLINOIS Long-Term Debt Requirements Corporate Purpose Bond Series of 1996 December 31, 2000 Date of Issue November 1, 1996 Date of Maturity December 1, 2008 Authorized Issue $8,435,000 Denomination of Bonds $5,000 Interest Rates Bonds Rate 136-276 4.625 % 277-1278 4.70% 71279-1477 4.80 % 1478-1687 4.875% 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 Fiscal Bond Tax Lew .Interest Due on Year Numbers principal Interest Totals lune 1 Amount Dec. 1 Amount 2001 277423 $ 735,000 $ 334,418 $ 1,069,418 2001 $ 167,209 2001 $ 167,209 2002 424-578 775,000 299,872 1,074,872 2002 149,936 2002 149,936 2003 579-740 810,000 263,448 1,073,448 2003 131,724 2003 131,724 2(I)4 741-910 850,000 225,378 1,6'75,378 2004 112,689 2004 112,689 2005 911-1089 895,000 185,428 1,080,428 2005 92,714 2005 92,714 2006 1090-1278 945,000 143,362 1,088,362 2006 71,681 2006 71,681 2007 1279-1477 995,000 98,948 1,093,948 2007 49,474 2007 49,474 2008 1478-1687 1~050~000 51t188 1~101~188 2008 25~594 2008 25~594 $ 7.055.000 $ 1.602-042 $ 8 657 042 $ 801.021 $ 801.021 Note: Debt service is payable from the Debt Service Fund using monies transferred from the GNAS Redevelopment Fund. 137 VILLAGE OF GLENVIEW, ILLINOIS Long-Term Debt Requirements Corporate Purpose Bond Series of 1997 December 31, 2000 of Issue August 15, 1997 of Maturity December 1, 2017 Authorized Issue $6,175,000 Denom/nation of Bonds $5,000 Interest Rates Bonds Rate 001-717 4.875% 718-792 4.900% 792-1235 5.000% 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 Fiscal Bond Requirements Interest Due on Year Numbers Principal Interest Totals ~une 1 Amount Dec. 1 Amount 2001 103-145 $ 215,000 $ 279,032 $ 494,032 2001 $ 139,516 2001 $ 139,516 2002 146-190 P~5,000 268,550 493,550 2002 134,275 2002 134,275 2003 191-238 240,000 257,582 497,582 2003 128,791 2003 128,791 2004 239-288 250,000 245,882 495,882 2004 122,941 2004 122,941 2005 289-340 260,000 233,694 493,694 2005 116,847 2005 116,847 2006 341-395 275,000 221,018 496,018 2006 110,509 2006 110,509 2007 396-453 290,000 207,612 497,612 2007 103,806 2007 103,806 2008 454-514 305,000 193,476 498,476 2008 96,738 2008 96,738 2009 515-578 320,000 178,606 498,606 2009 89,303 2009 89,303 2010 579-646 340,000 163,006 503,006 2010 81,503 2010 81,503 2011 647-717 355,000 146,432 501,432 20/1 73,216 2011 73,216 2012 718-792 375,000 129,126 5fl4,126 2012 64,563 2012 64,563 2013 793-871 395,000 110,750 505,750 2013 55,575 2013 55,375 2014 872-955 420,000 91,000 511,000 2014 45,500 2014 45,500 2015 956-1043 440,000 70,000 510,000 2015 35,000 2015 35,000 2016 1044-1136 465,000 48,000 513,000 2016 24,000 2016 24,000 2017 1137-1235 495,000 24~750 519,750 2017 12,375 2017 12,375 $ 5,665.000 $ 2.868.516 $ 8.533.516 $ 1.434.258 $ 1.434.258 Debt service is payable from the North Maine Water and Sewer Fund. 138 VILLAGE OF GLENVIEW, ILLINOIS Long-Term Debt Requirements Corporate Purpose Notes of 1997 December 31, 2000 Issue September 2, 1997 Maturity September 1, 2019 Authorized Issue $2,850,000 Denomination of Bonds $1,425,000 Rate 4.942% Date September 1 Principal Maturity Date September 1 Payable at North Suburban Public Utility Overland Park, Kansas CURRENT AND FUTURE PRiNCIPAL AND INTEREST REQUIREMENTS Fiscal Requirements Year Principal Interest Totals 2001 $ 86,121 $ 129,256 $ 215,377 2002 90,384 124,993 215,377 2003 94,852 120,525 215,377 2004 99,539 115,838 215,377 2005 104,459 110,918 215,377 2006 109,621 105,756 215,377 2007 115,039 100,338 215,377 2008 120,725 94,652 215,377 2009 126,691 88,686 215,377 2010 132,952 82,425 215,377 2011 139,523 75,854 215,377 2012 146,419 68,958 215,377 2013 153,655 61,722 215,377 2014 161,249 54,128 215,377 2015 169,219 46,158 215,377 2016 177,582 37,795 215,377 2017 186,359 29,018 215,377 2018 195,569 19,808 215,377 2019 205t234 10t143 215~377 $ 2.615.192 $ 1,476,971 $ 4,092.163 Debt service is payable from the North Maine Water and Sewer Fund. 139 VILLAGE OF GLENVIEW, ILLINOIS Long-Term Debt Requirements General Obligation Bond Series of 1998A December 31, 2000 Date of Issue November 1, 1998 Date of Maturity December 1, 2018 Authorized Issue $10,000,000 Denomination of Bonds $5,000 Interest Rates Bonds Rate 1-139 4.10% 140-389 4.15% 390-661 4.20% 662-957 4.25% 958-1278 4.30% 1279-2000 4.35% 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 Fiscal Tax Levy -Interest Due on Year Principal Interest Totals Tune 1 Amount Dec. 1 Amount 2001 $ $ 426,440* $ 426,440 2001 $ 213,220 2001 $ 213,220 2002 426,440 426,440 2002 213,220 2002 213,220 2003 426,~t0 426,440 2003 213,290 2003 213,220 2004 426,440 426,440 2004 213,220 2004 213,220 2005 426,440 426,440 2005 213,220 2005 213,220 2006 426,440 426,440 2006 213,220 2006 213,220 2007 426,440 426,440 2007 213,220 2007 213,220 2008 426,440 426,440 2008 213,220 2008 213,220 2009 426,440 426,440 2009 213,220 2009 213,220 2010 426,440 426,440 2010 213,220 2010 213,220 2011 426,440 426,440 2011 213,220 2011 213,220 2012 695,000 426,440 1,121,440 2012 213,220 2012 213,220 2013 1,250,000 397,945 1,647,945 2013 198,973 2013 198,972 2014 1,360,000 346,070 1,706,070 2014 173,035 2014 173,035 2015 1,480,000 288,950 1,768,950 2015 144,475 2015 144,475 2016 1,605,000 226,050 1,831,050 2016 113,025 2016 113,025 2017 1,735,000 157,035 1,892,035 2017 78,518 2017 78~17 2018 1,875,000 81,563 1,956,563 2018 40~781 2018 40,782 $ 10.000.000 $ 6.614.893 $ 16.614.893 $_ 3.307.447 $ 3.307.446 Note: Interest payments to come from bond proceeds. Debt service is payable from the Debt Service Fund using monies transferred from the GNAS Redevelopment Ftmd. 140 VILLAGE OF GLENVIEW, ILLINOIS Long-Term Debt Requirements General Obligation Bond Series of 1998B December 31, 2000 Date of Issue January 1, 1999 Date of Maturity December 1, 2018 Authorized Issue $24,400,000 Denomination of Bonds $5,000 Interest Rates Bonds Rate 1-514 4.250% 1515-2215 4.375% 2216-2589 4.400% 2590-4880 4.500% 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 Fiscal Tax Levy .Interest Due on Year principal Interest Totals ]une 1 Amount Dec. 1 Amount 2001 $ $ 1,072,824' $ 1,072,824 2001 $ 536,412 2001 $ 536,412 2002 1,395,000 1,072,824 2,467,824 2002 536,412 2002 536,412 2003 1,450,000 1,013,536 2,4&3,536 2003 506,768 2003 506,768 2004 1,510,000 951,911 2,461,911 2004 475,966 2004 475,955 2005 1,575,000 887,736 Z462,736 2005 443,868 2005 443,868 2006 1,640,000 820,799 2,460,799 2006 410,399 2006 410,400 2007 1,7t5,000 751,099 2,466,099 2007 375,550 2007 375,549 2008 1,790,000 676,068 2,466,068 2008 338,034 2008 338,034 2009 1,870,000 597,755 2,467,755 2009 298,878 2009 298,877 2010 1,955,0G0 515,475 2,470,475 2010 257,737 2010 257,738 2011 2,050,000 427,500 2,477,500 2011 213,750 2011 213,750 2012 1,4,50,000 335,250 1,785,250 2012 167,625 2012 167,625 2013 1,000,000 270,000 1,270,000 2013 135,000 2013 135,000 2014 1,000,000 225,000 1,225,000 2014 112,500 2014 112,500 2015 1,000,000 180,000 1,180,000 2015 90,000 2015 90,000 2016 1,000,000 135,000 1,135,000 2016 67,500 2016 67,500 2017 1,000,000 90,000 1,090,000 2017 45,000 2017 45,000 2018 1,000,000 45,000 1,045,000 2018 22,500 2018 22,500 $ 24,400.000 $ 10.067.777 $ 34.467.777 $ 5.033~89 $ 5,033.888 Note: Interest payments to come from bond proceeds. Debt service is payable from the Debt Service Fund using monies transferred from the GNAS Redevelopment Fund. 141 VILLAGE OF GLEN'VIEW, ILLINOIS Long-Term Debt Requirements General Obligation Bond Series of 2000 December 31, 2000 Date of Issue December 15, 2000 Date of Maturity December 1, 2008 Authorized Issue $4,970,000 Denomination of Bonds $5,000 Interest Rates Bonds Rate 1-69 4.30% 70-795 4.40% 796-994 4.50% 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 Fiscal Bond Tax Levy Interest Due on Year Numbers Principal Interest Totals tune 1 Amount Dec. 1 Amount 20OI $ $ 210,805 $ 210,805 2001 $ 101,137 2001 $ 109,668 2002 219,335 219,335 2002 109,66~ 2002 109,668 2003 219,335 219,335 2003 109,668 2003 109,668 2004 219,335 219,335 2004 109,668 2004 109,668 2005 1-69 345,000 219,335 564,335 2005 109,668 2005 109,668 2006 70419 1,750,000 204,500 1,954,500 2006 102,250 2006 102,250 2007 420-795 1,875,000 127,500 2,002,500 2007 63,750 2007 63,750 2008 796-994 1~000,000 45t000 1~045,000 2008 22,500 2008 22~500 $ 4.970.000 ~ 1,465,145 $ 6.435.145 $ 728.307 $ 736.838 Note: It is anticipated that the levies associated with this issue will be abated through 2004 transfers from the General Fund. The bond proceeds will be used for infrastructure improvements throughout the Village. 142 I I I I I I 1 I I I I I I I I I I I I VILLAGE OF GLEN-VIEW, ILLINOIS Property Tax Assessed Valuations, Rates, Extensions, and Collections Last Ten Fiscal Years December 31, 2000 (See Following Page) VILLAGE OF GLENVIEW, ILLINOIS Property Tax Rates - Direct and Overlapping Governments Last Ten Fiscal Years December 31, 2000 (See Following Page) VILLAGE OF GLENVIEW, ILLINOIS Schedule of Legal Debt Margin December 31, 2000 Article VII, Section 6(k) of the 1970 Illinois Constitution governs computation of the legal debt "The General Assembly may limit by law the amount and require referendum approval of debt to be incurred by home rule municipalities, payable from ad valorem property tax receipts, only in excess of the following percentages of the assessed value of its taxable property... (2) if its population is more than 25,000 and less than 500,000 an aggregate of one per cent: . . . indebtedness which is outstanding on the effective date (July 1, 1971) of this constitution or which is thereafter approved by referendum. ·. shall not be included in the foregoing percentage amounts." To date, the General Assembly has set no limits for home rule murricipalities. 149 VILLAGE OF GLENVIEW, ILLINOIS m Demographic Statistics Last Ten Fiscal Years I December 31, 2000 ! Education Level in m Per (1) Years of (2) (3) Fiscal (1) Capita Median Formal School Unemployment Year Population Income Age Schooling Enrollment Percentage I 1991 38,437 $ 24,838* 35.5 16.6 3,015 4.4 1992 38,437 30,531' 37.5 16.4 5,887 5.0 m 1993 38,437 31,469, 37.5 16.5 5,937 5.0 I 1994 38,437 32,161, 37.5 16.5 6,023 3.7 1995 38,437 33,144, 37.5 16.5 8,461 3.1 m 1996 38,437 34,037. 37.5 16.5 8,590 3.0 i 1997 38,437 34,886, 37.5 16.5 8,676 2.6 1998 38,437 35,578, 37.5 16.5 9,315 2.5 [ 1999 38,437 36,315, 37.5 16.5 9,241 2.3 I 2000 41,847 37,566, 37.5 16.5 9,241 2.5 ! * Estimate Data Sources [ (1) U.S. Department of Commerce, Bureau of the Census. I (2) Includes elementary and high school students. (3) lllinois Depai hi,ent of Labor, Illinois Department of Employment Security (not seasonably m adjusted). 152 VILLAGE OF GLENVIEW, ILLINOIS Miscellaneous Statistics December 31, 2000 Date of Incorporation June 20,1899 Form of Government Council-Manager Geographic Location 20 Miles North of Chicago Area 13 Square Miles Population 195001 6,142 19601~) 18,132 1970~t~ 24,880 1980o) 32,060 19900~ 38,437 20000~ 41,847 Number of Total Housing Units (1993 Census) 11,399 Median Value Owner-Occupied Noncondominium Housing Units $ 252,640 Distribution of Owner-Occupied Noncondominium Houses by Value (1993 Census) Unit Value by Range (1) Unit Distribution Number Percent Under $100,000 378 4% 100,000 - 199,999 3,359 35 200,000 - 299,999 2,805 29 300,000 or More 3,000 32 9,542 100% 0~ The above information from the Bureau of the Census. (Continued) 154 VILLAGE OF GLENVIE-vV, ILLINOIS Miscellaneous Statistics December 31, 2000 Fire Protection Number of firefighters 82 Number of stations 3 Number of fire hydrants 2,300 I.S.O. rating Class 3 Police Protection Number of police officers 75 Number of school crossing guards 18 Number of stations Library Services Number of libraries 1 Number of books 255,450 Number of records 3,153 Number of audio cassettes 8,623 Number of slides (sets) 367 Number of video tapes 8,771 Number of compact discs 9,882 Number of registered borrowers 37,381 2000 book circulation 700,760 Recreation Facilities Number of parks and playgrounds 36 Park area in acres - Park District owned 447 Park area in acres - Park District leased 135 Municipal Parking Facilities Number of parking spaces 1,168 Waterworks Operations Number of sewer customers served during fiscal year 9,518 Number of metered water customers at December 31, 2000 14,953 Number of unmetered water customers at December 31, 2000 Gallons of water purchased during fiscal year 3,033,150,000 Gallons of water billed during fiscal year 2,760,130,000 Water storage capacity Ground Storage 8,500,000 gallons Elevated Storage 1,000,000 gallons (Continued) 155 VILLAGE OF GLENVIEW, ILLINOIS Miscellaneous Statistics December 31, 2000 Number of full time employees (on December 31, 2000) 322 Miles of streets maintained by Glenview identified by functional classification: Arterial 7 Collector 5 Residential 106 Cul-de-sacs 12 Total 13~0 Miles of streets maintained by Glenview identified by surface type: Asphalt 92 Concrete 38 Total 130 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 80.6 Miles o[ storm sewers 74 Number of Village-owned street lights 465 Building activity Number of permits issued in 2000 2,109 Value of construction authorized in 2000 $ 343,039,232 156 VILLAGE OF GLENVIEW, ILLINOIS Major Corporate Fund Revenue Sources Non-Real Estate Tax December 31, 2000 % of % of % of Fiscal Sales Total Utility Total Income Total Year Tax Revenue Tax Revenue Tax Revenue 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 24.4 2,512,867 13.8 2,157,707 11.9 1995 4,843,071 25.3 2,935,696 15.3 2,266,279 11.8 1996 4,661,985 23.6 3,099,365 15.7 2,656,744 13.4 1997 4,794,830 21.1 3,184,812 14.0 2,483,946 10.9 1998 5,092,357 20.9 3,340,555 13.7 2,666,003 10.9 1999 5,758,617 23.0 3,262,725 13.0 2,740,281 11.0 2000 6,522,922 23.7 3,712,583 14.5 2,990,432 10.9 Note: Includes General Fund only. 158 VILLAGE OF GLENVIEW Cook County, Illinois ANNUAL FINANCIAL INFORMATION STATEMENT OF INDEBTEDNESS Amount As Per Cent of Per Capita Applicable as of Assessed Es~imated (20~0 Census Dec. 31.20~0 Value True Value POD. 4t.847) Assessed Valuation of Taxable Real Property, 1999 ............ $1,246,20~552 100,00% 33.33% $2~,780.12 Estimated Tree Value of Taxable Real Ptopech/, 1999 ........... 3,73&62.~656 300,00~ f00.00% ~,340.35 Direct General Obligation Bonded Debt(l): Payable from Property Taxes .......................... $ 12,468,300 1.00% .33% $ 297.95 S~lf-Supperfing Debt ................................ 50.461.700 4.05% 1.35% 1 ~05.86 Total Direct Bonded Debt .......................... $ 62,930,000 5.05% 1.68% $1,503.81 Overlapping Bonded Debt Payable from Property Taxes(2): Schools ......................................... $ 18,164,843 1.46% ,48% $ 434.08 Other Than Schools ................................. 41,724,194 3.35% 1.12% 997.06 Total Overlapping Bonded Debt ...................... $ 59.889.037 4.81% 1,60% $ 1,431.14 Total Direct and Overlapping Bonded Debt .................... $ 122.819.037 9.86% 3.28% $ 2,934.95 Total Direct and Overlapping Excluding Self-SuppoSing ....... $ 72,357,337 5.81% 1.93% $1,729.09 Notes: 1. The Village i~ a hcme-ruta unit under the 1970 Illinois ConsEtotton and as such has no debt limit nor is it requi~ed to seek referendum approval tor the issuance of general obtigatlen debt. See "Re~rement Schedule of Outsionding Village General Obtigat~on Debt" tor a listing of the Vi#age 's non- general obl~jation debt and currently outstanding general obtige~on debt. Of the Vi#age's general obl~gatlen debt SO.2% or $50, 461, 7OO is considered self-suppor~ng. 2. See "Detailed Overlapping Bonded thdeb~edness Payolas From Properly Taxes at December 31, 2000 ~ RETIREMENT SCHEDULE OF OUTSTANDING VILLAGE GENERAL OBLIGATION DEBT(Note 1) (As of December 31,2000) Principal Amounts Debt Service Paid From Self Support/hq With Projected Abe~ement From Tax Levies Property Taxes Water and Bewer Funds~2} Tax Increment Revs, ltl Total From Due Pre Series Series Se~s Sedes Sedes Series Series Cumul. Levy P~oparty 12-1 2000 (3~ 2000 1992(41 1994(51 1997(6~ 1996 1998 Amount Percent Year Taxes 2001 $1,403,400 $ - 0 - $ 125,000 $ 451,600 $ 215,000 $ 735,000 $ - 0 - $ 2,930,000 4.7% 2000 $1,959,314 2002 1,493,000 - 0 - 130,000 457,000 225,000 775,000 1,395,000 4,475,000 11.8% 2001 1,990,780 2003 1,587,600 - 0 - 145,000 127,400 240,000 810,000 1/150.000 4,360,000 18.7% 2002 2,024,612 2004 1,669,300 - 0 - 150,000 130,700 250,000 850,000 1,510,000 4,560,000 25.9% 2003 2,031,031 2005 1,345,000 345,000 160,000 - 0 - 260,000 895,000 1,575,000 4,580,000 33.2% 2004 1,972,551 2006 - 0 - 1,750,000 170,000 275,000 945,000 1.640,000 4,780,000 40.8% 2005 1,954,500 ~2(~7. 1,875,000 180,000 290,000 995,0~0 1,715,000 5.055,000 48.8% 2006 2,002,500 1,000,000 195,00~ 305,000 1,050,000 1,790,000 4,340,0~0 55.7% 2007 1,045,000 ~ - 0 - 210,000 320,000 - 0 - 1,870,000 2,400,000 59.6% 220,000 340,000 1,955,000 2,515,000 63.5% 2011 235,000 355,000 2,050,000 2,640,000 67.7% 2012 255,000 375,000 2,145,000 2,775,000 72.2% 2013 - 0 - 395,000 2,250,000 2,645,000 76.4% 2014 .. 420,000 2,360,0(30 2,780,000 80.8% 2015 .. 440,000 2,480,000 2,920,000 85.4% 2016 .. 465,000 2,605,000 3,070,000 90.3% 2017 .. 495,000 2,735,000 3,230,000 95.4% 2018 - 0 - 2.875.000 2,875,000 100.0% $7,498,300 $4,970,000 $2,175.000 $1,166,700 $5,665,000 $7,055,000 $34,400,000 $62,9G0,000 Notes: 1. Exc~udes $2~615~19~ n~ta payabta to annua~ peyment$ ~f $215~377 t~ the se~~ers ~f the uti~ity c~mpany that was acquired in Septamber~ 1997. The $953,815 l~incipal amount of special service area bonds, the proceeds of which ha ve been used for vaheus neighberh~od Iocal improvements and which are secured by property taxes to be/eH'ed in the applicable special service areas, is shown as overlapping debt in the table "Detailed Overlapping Bonded Indebtadne~s Payab~ From Property Taxes". Z As a home rule unit under the 1970 it//nots Cons#'tutian, the Village has no debt limit and it can issue general obi/gabon bonds without referendum. The Village has chosen to ~nd various watarisewer improvements with general obliga¢on bonds and abate taxes from user charges. The Village's water system serves a population of approximately 100,000 of which approximately 64.000 are outside the Village limits (57,000 in unincorporated areas and 7,000 in the Citizens U~/itles service ama). 3. Includes r~main~Y~g mataittles for the VlTtage's outstanding Series 1993 Bonds, and a po~on of the outstanding Series 1994 issues. 4. The Sedes 1992 Bonds are payable primarily from revenues of the service area of a pdvate water company (Citizens UtiliZes) ou~ide the Village limits. 5. The Village sold $8,040,000 General Obligation Refunding Bonds, Seres 1994 on August 30, 1994. A potion of the issue is payable ~om properly taxes and the remainder is self-supporting from watedsewer revenues. 6. The Series 1997 Bonds are being paid from water and sewer revenues of a service area outside the Village limits with a population of approximately 40,000. 7. The Series 1996 and Series 1998 Bonds am expected to be paid from thcremental property taxes at Ihs Gtanvtaw Naval Air Station Economic Devek)pmeot Project Area p/us 80% of the land sale proceeds derived from the V#lege's ~ale of land at the Project Area, DEBT RATIOS AND PER CAPITA DEBT--LAST TEN BOND SALES (Note 1) Ra6o to Estimated Actual Value(Il Per Caaita(1) Direct Debt Direct & Overlaooina Debt Direct & OverlaEmina De~t Including Excluding Including Excluding Including Excluding Villaae Issue Self- Self- Self- Self. Self. Self- SaleDate Amount Suooortlna Suooortinfl(2) Suooortina SuoDorgnaf2) Suooortina Suooortlne(2) November 19, 1991 ...... $ 4.165,000 .91% .50% 2.64% 2.23% $1,532.82 $129524 April 7. 1992 ........... 2,895,000 1.03% .50% 2.78% 2.25% 1,614.07 1.304.18 May 18, 1993 .......... 7,635,000 123% .77% 3,31% 2.85% 1,962.19 1,690.55 August 30, 1994 ......... 8,025,000(3) .94% 60% 3.00% 2.66% 2229.73 1,978.80 January 25. 1995 ....... 60,000,000(4) .87% .57% 2.98% 2.68% 2,219.67 1,995.53 October 17, 1995 ........ 500,000 .89% .57% 3.17% 2.85% 2,360.61 2,123.34 October 15, 1996 ........ 8,435,000(5) 1.01% .45% 3.18% 2.62% 2,590.75 2.134.53 August 5, 1997 ......... 6,175,000 1.13% .42% 3.15% 2.44% 2,544.13 1,9S9.57 October 20. 1998 ........ 34,400,000(6) 2.12% .37% 3.98% 2.23% 3,125.64 1,752.00 December 5, 2000 ....... 4,970,000 1.68% .33% 3.28% 1.93% 3,109.34 1,831.83 Notes: 1. Ra~os and per capita information as set out in applicable Official Statements. The Village's ~ond Antidpalion Bonds which sold on January 25, 1995 am not includ~d in these ratios (see Note 4). 2. Exctuding ~ Villege's self-supporfing general obflga~oo bonded debt. 3. ~nal issue amount was $8,040,000. This issue advance refunded the callable matur~es of the Series 1989 and 1990 issue~ 4. General Obligation Bond Anticipation Bonds, Sedes 1995 ("BABS") the proceeds of which were used to fund interest up to the respective maturity dates of the BABS and to create a capital improvement fund for redevelopment costs of the Glenvlaw Naval Air Station which officially closed on September 0, 1995. The principal amount of the Bond Anticipation Bonds was not included in the debt ratios and per capita date - when those matuffiios were refinanced with Sedes 1996 and the Series 1998 Bonds, they 5. ProcsedsusedtorefundtheDecemberl, 1996malurtyoftheBABS. 6. AportionoftheproceedsoftheSehes1998BondswasusedtorefundtheDecernber1, 1998matufi~yoftheBABS. DETAILED OVERLAPPING BONDED INDEBTEDNESS PAYABLE FROM PROPERTY TAXES AT DECEMBER 31,2000 Percent of Village's Applicable Village's Share (Note I) 1999 Real of Gross Debt To Be Paid Property in Gross From Real Property Taxes SCHOOL DISTRICTS: Taxine Body Bonded Debt Percent Amount Elementary Districts: Glenview School District No. 34 ................. 68.2% $ 2.600,000 85.701% $ 2,228226 Nor[hbrook School District No. 30 ................ 12.5% 8,364.641 41.3Q2% 3,454,764 West Northfield School District No. 31 ............. 9.5% 6,615,0(30 24.837% 1,642,968 Wilmeite School District No. 39 ................. 3.1% 5,570,000 4.714% 262,570 East Maine Schcot District No. 63 ................ 2.6% 23,660,000 4.184% 989,934 Golf School District No, 67 ..................... 2.4% 4.800,000 14.470% 694.560 Avoca School District No. 37 ................... 1.7% 3,745,000 7~.01% 269,677 100.0% High School Districts: Northfield Township High School District No. 225 ...... 89.7% 18,781,993(3) 35.675% 6,700,476 New Trier Township High School District No. 203 ..... 4.8% 25,155,000(3) 2.329% 585,860 Niles Township High School Dist~ct No. 219 ......... 3.0% 88.941,429 1.340% 1,191.815 Maine Township High School District No. 207 ........ 2.5% 14,285,000 1.008% 143,993 100.0% Community College District: Oakton Corm'nuntiy college No. 535 .............. 100.0% - 0 - 9.573% - 0 - Total School Districts ........................................................... $18.164,843 OTHER THAN SCHOOL DISTRICTS: Cook County. Including Forest Preserve District ....... 100.0% $1.798,415.000(2) 1.505% $27.066,146 Metropolitan Water Reclamation District ............ 100.0% 819.645,000(2) 1.538% 12.606,140 Gienview Park District ........................ ~9.1% 1206.000(3) 82.518% 995,167 No~thbrook Park District ........................ 4% 17,940,000(3) .344% 61,714 North Maine Fire Protection District ................ 4% 1,830.000 2252% 41~12 Glenview Special Service Areas .................. Various 953,815 100.0~3% 953.815 Total Other Than School Districts ................................................... $41,724,194 Notes: 1. IfL~age'sshambasedupen 1999RealProperlyvaluations. 2.Excludes General Obligation Notes issued in lieu of tax anticipation warrants and notes issued to provide interim coosk~cfion financing. PJso excludes IEPA loans to the Metropolitan Water Reclamation District. 3.Excludes the following "Alternate Bonds" lasued pursuant to Public Act $5-1419, which ara considered to be serf- suppo~ng since they are payable from user fees er other ptedged non-properly tax sources: Northfiald Township High School District No. 225 ~ $29,465,000; New Tder High School Dlatdct No. 203 - $5,700,000; Glenvtew Park District - $31,950.000 and Northblook Park Dla~ct - $5,855,000. ~0 EQUALIZED ASSESSED VALUATION FOR TAXING PURPOSES (Note 1) For General Taxina Purooses(Note 1.t For All Taxina Purooses Tax Gross Less Net For Increase Net For Plus Total For All Levy Real Exemptions General Taxing Over General Taxing Incremental Taxing Year Property (2~ Purooses(S} PH0r Year Pur~osss (5) Valuation(7) Pumosesf6) 1995(3) ...... $1,(~16,925,282 $60,905,775 $1,036,019,507 +11.2% $1,036,019,507 $ - 0 - $1,036,019,507 19<36 ........ 1,111,5.54,137 61,245,414 1,050,308,723 +1.4% 1,050,308,723 - 0 - 1,050,308,723 1997 ........ 1,110,128,692 62,350,866 1,047,777,826 -.2%(5) 1,047,777,826 - 0 - 1,047,777,826 1998(3) ...... 1,224,686,771 64,315,730 1,160,371,041 +10.7% 1,160,371,041 - 0 - 1,160,371,041 1999 ........ 1,309,030,170 65,038,497 1~43,991,673(4) +7.2% 1,243,991,673 2,216,879 1,246,208,552 Notes: 1. Property in Cook County is separated into eight classifications for assessment purposes (ranging in 1985 from f6% for rosidential to 40% for commercial property). After the assessor establishes the fair market value of a parcel of land, that value is multiplied by one of the cfasaltication percentages to ar~ve at the assessedvaluationforthatparcel. TheltiinolsDepartmentofRevenuefurolsheseachcounfywithan adjustment factor (the equalization factor) to equalize the le~l of assessment between count/es. After the equalization factor ~s applied, the valuation of the property for taxing purposes has been esta~x rates are applied to the equa~zed Valua~n. 2. Includes three major categories of exemptions: the Senior Citizens' Homestead Exemption ($7,972,000 in 1999), the Senior Citizens Tax Freeze Homestead Exemption ($4,966,847 in 1999), and the General HornesteadExemption($52,09g, 650in 1999). TheSeniorCitizens'HornesteadExemption, effoctivefortax years 1991 and ioliowing, is a reduction of $2,500 ($I, 500 in levy years 1972-1983 and $2,000 in levy yeats 1984-1990) in the equalized assessed valuation of real property owned and occupied by a person 65 yea~ of age or older. The GeneraI Homestead Exemption is available to owner-occupied restdential property; the amount of the exemption is the increase in the current yea~s equalized assessed valuation above the 1977 tax year equalized assessed valuation, with a maximum of $1,500 in 1978, $3,000 between 1979 and 1982, $3,500 between 1983-1990 and $4,500 lhereaflec The Senior Cigzen Tax Freeze Homestead Exemption, first effestive in lev/y year lgg4, provides that persons 65 or older with a household income of fass than $40,000 (up from $35,000 in levy year 1998 and pdor) may receive an exemption in the amount of the ditference between the current equalized assessed value of their pdnalpel residence and the lowest prewees assessment in a qualifying year, even if the senior was not eligible for some inten/ening yeac Under the current triennial reassessment system in Cook County, one third of the County is reassessed each yea~ The Villsge was massessed in 1995 and 1998. 4. By valuation 82 8% of the Village is in Northfield Township, 6 4% is in Niles Townshi 6 1% is in Maine Townsfap, and 4.7% rs ~n New Ther Township, Includes $123,644 of Railroad Prope/fy now classified as Real Prope~y. 5. The decrease in equalized assessed valuation was primarily due to a .31% drop in the State-imposed equalization factor for Ccok County (from Z 1517 in levy year 1996 to 2.1489 in levy year 1997). 6. The Village's tax rate is extended against its entire Equalized Assessed Valuation (shown in this table as "Total for all Taxing Purposes') excluding only the statutory exemptions. Of the taxes collected, that pad/on applicable to incremental valuation (valuation of tax increment districts) is remitted to the Village by the County Collector for deposit in the applicable tax allocation fund. The Equaflzed Assessed Valuation for which the Village receives its portion of the total tax rate for all non-TIF purposes is shown in this table as "Net for General Taxing Purposest 7. When the Glenviow navaI Air Station Tax Increment District was created it included the Air Station and an older industrial area adjacent thereto. As of January 1, 1999 the incremental valuation was added from changes in that ledustr~l area. Land valuations le that industrial area have increased for a variety of reasons including the fact the prol~rty beleg adjacent to a major new ~adwey entrance into the redeveleped base and a new Matra train station. TAX RATES PER $100 EQUALIZED ASSESSED VALUATION (Levy Years) Village of Gtanview: 1995 1996 1997 1998 t999 Bonds and Interest ....................... $ .119 $.125 $ .166 $ .156 $ .'145 Pensions (Police, Fire, IMRF & Social Security) .... 191 .139 .112 .095 .077 Corporate ............................... 353 .422 .457 -409 .430 Total Village(l) ....................... $ .663 $ .687 $ .735 $ .660 $ .652 Cook County (Incl. Forest Preserve) ................ 1.066 1.0F33 .993 .983 .955 Metropolitan Water Reclamation Distr~ct .............. 495 .492 .451 A44 ,419 Glenview S.D. Number 34 ....................... 2.959 3.071 3.188 2.991 2.839 Northit eld Township H.S.D. Number 22.5 ............. 1.899 1903 1.932 1.840 1.870 Oakton Community College Dist. Number 535 .......... 233 .208 .216 205 .203 Glenview Park District .......................... 478 .476 .498 .587 .578 Library(2) ................................... 301 .303 .304 .269 251 North//eld Township and AIl Other ................... 117 .090 .118 .078 .068 Total(3) ............................ $8.211 $8293 $8.435 $8.057 $7/~35 ViSage as a Percent of Total ...................... 8.1% 8.3% 6.7% 8.2% 8.3% Notes: 1. As a home rule unit under the f 970 Illinois Constttution, the Village has no statutory tax rate limitabbns. 2. Beginning in levy year 1985, the tax rate for Library purposes is cons/de-ed under State law to be a separate levy from the Village. 3. Tax rate applicable to the largest tax code which represented 43.4% of ~e Village's 1999 tax base and is located in Northfield Township. TAX EXTENSIONS AND COLLECTIONS (Village Purposes Only) Total Taxes Coltected as Levy Collection Total Taxes of Al)HI 30. 2001(/) Year Year Extend~ Amount f2) Percent 1995 ....................... 1996 $6,868,809 $6,890,939 100.32% 1996 ....................... 1997 7,215,620 7247,809 100.44% 1997 ....................... 1998 7,701,167 7,633,895 99.13% 1998 ....................... 1999 7,658,448 7,679,741 100.27% 1999 ....................... 2~00 8,110,825 8.046,681 99.21% Notes: 1. Source: Cook County Treasurer's Office. Taxes collected, including late payments, are shown as collections in the year when due regerdless of when ~he collect/on occurs. The "Amount C<~llected~ is not the same as distdbutions to the Village as ccllections include taxes paid under p~otast. When the taxes are paid under protest are remit~d, they are not 1993 AND 1998 TAX BASE DISTRIBUTION BY PROPERTY CLASSIFICATION TEN LARGEST TAXPAYERS ~2 I GENERAL FUND I Summary Statement of Revenues, Expenditures and Changes in Fund Balance (Fiscal Years Ending December 31) AuditedfNote ~ ) 2poo ;OOl I Revenues~Transfers: 1996 1997 1998 1999 BudRet(2) Actual Budoet(2) Pmpertytaxes(3) .................... $ 3.567,602 $ 5,098,741 $ 5.421.134 $ 5.088,157 $ 5,869,300 $ 5,628,468 $ 6,992,318 Property Taxes-Fire Protection Disfriot(11)... 1,857,583 2,094,527 2,014,877 2,123,992 2,050.000 1.968,076 1.900,000 Sales Taxes ........................ 4,661,965 4,794,830 5,092.357 5,758,617 5,500.000 6,522,922 6,300,000 Utility Tax ......................... 3,099,365 3.184,812 3.340.555 3,262,725 3,193,230 3,712,583 i State Income Tax/Photo and Use Tax ....... 2,656,744 2,900,650 3,111,9r~4 3,249,388 3,350.000 3.551,020 3.550,000 F~'anchise Taxes ..................... 320,704 333,645 322,468 379,362 370.000 195,2.81 375.000 Hotel Room Tax(4) ................... 698,644 788.672 856,775 803,135 925,000 872,019 825,000 MotorVehicleLicenses ................ 487,784 459.412 5,535 10 - 0 - - 0 - - 0 - Building Permits/Cert, Of Occup ........... 311,400 817,715 1,069.449 996,745 930,000 1,4,56,765 2,207,505 Other Licenses and Permits ............. 287,904 409,987 250,796 236,925 257,000 280,634 255,000 I Charges For Services ................. 674,151 652.035 1,310,311 741,991 1,983,535 1,280,928 1,976,400 Fines and Fon~eits .................... 239,467 258,230 232.855 281,525 225.000 224,431 250.000 Interest ........................... 231,829 427,039 526.760 478,582 475,000 665,382 475,000 Transfers-In: Waterworks ...................... - 0 - 471,245 452.814 457.808 500,750 500,750 493.700 I Wholesale Water .................. 115,810 98.275 106,700 102,200 102,000 102,0~0 105.000 The Gle~ Redev./Caretaker ............ 198,357 330,356 33,850 4,000 4,000 4,0(~) 4,000 North Maine Utilities ................ - 0 - - 0 ~ 285.174 381,981 292,674 292,674 307,500 Escrow Deposil Ioterest(5) ............ 157,544 245,864 127,215 194.993 150,000 190,994 175,000 Other .......................... 90,516 112,731 168,898 107.139 118,100 1,327,0~6 151.760 I LandSales ......................... - 0 - - 0 - - 0 - 531.593 1,635,000 295,460 400,000 All Other Revenues ................... 687,950 542.126 795,012 1.075.376 1,622,2~)2 887,172 1,379,500 Total Revenues/Transfers ........... $20,345,339 $24,020,892 $25,525,491 $26,256~Z44 $29,652,841 $29.958,645 $30,872,683 Expenditures/Transfers: General Government .................. $ 3,958,385 $ 5,468,303 $ 4.824,865 $ 4,854,514 $ 8,40~,556 $ 7,693,301 $ 6,035,998 i Public Safety ....................... 10,,~8,544 11,235,448 11,918,831 12,357~63 13,343,555 13,295,0G1 15,607,665 Highways and Streets ................. 3,475,887 3.944,604 4.094,806 4,774.392 5,328,060 5,100,455 5,792,044 Pensions .......................... - 0 - 617,344 613,170 515.397 424,000 570.574 465,000 SubtotaiExpenditures ................ $17,982,816 $21,265,699 $21,451,672 $22.501,566 $27,505,171 $26,659,361 $27,870,707 Transfers-Out: i CapitalEquiprnentReplacement(6) ...... 803,431 901.114 965,013 1,024,903 1,001,302 1,001,302 $ 862,095 Capital Projects ................... 311,000 453,000 919,600 1,199,285 4,426,824 3,$10,9G7 2,309,805 Other .......................... 75,773 4,554 - 0 - - 0 ~ - 0 - - 0 - - 0 - Total Expenditures/Transfers ......... $19,173,020 $22,624,367 $23.336,285 $24,725,754 $32,933,297 $31,271,600 $21,042,607 Revenue Over (Under) Expenditures: I Before Capital/Transfers ............... $ 949,247 $ 2,362,523 $ 2,750.639 $ 3,754,678 $ 2,147,670 $ 3299,284 $ 3,001,976 AfterCapital/Transfers ................. $ (987,482) $ 1,172,319 $ 1,3,96,525 $ 1,530,490 $(3,280,456) $(1,312,955) $ (169.924) AdjusfmentstoFundBalance .............. $ (97,749) $ - 0 - $ 19,385 $ - 0 - $ - 0 - Fund Balance at December 31(7) ........... $ 7,194227 $ 8.366,546 $ 9,782,456 $13.502.152 $12,189,197 Balance Sheet at December 31 I TotalAssets .................... ~14,062,983 $16~538~719 $181218r085 $20,603,066 $20,538,037 163 I 6. The Capital Equipment Replacement Fund (CERF) was estab~hed by ordinance in 1979 with the stated purpose of evening out the annual expend~uras for major capital expenditures. All of the Village's on-road and off-road equipment, fire, public works, etc., is included. Each Department is charged with the equivalent of a depreciation charge which is remllt~d in cash to the Capital Equipment Replacement Fund (cer~ed in the Capita/Projects Fund). As of December 31, 2000, cash and investments in ~e Capital Equ~Oment R~placement Fund totaled $8,796,785. 7. For the fiscal year ended December 31, 1982, the Village changed its property tax revenue recognitfon to conform to the provisions of foterpretation issued by the National Council on Governmental Acceueb~g under which property tax revenues am recognized to the extent of taxes due and collected w~hinthecurrentyeac Thecurrentnettaxlavyreceivablaisrec~gnizedinthebalancesheatatongwithac~espondingarn~untofdeferr~drevenue~ 8. When~het/llla~echan~edit~p(~itcymgardin9thefe~alofpr~p~rtytaxes~ortheGeneraiFund(Nate3)~itais~de~rratned~increas~h~cashraserv~ ba~ance fo 9~ days ~f w~rking cash~ which~ giv~n the 2~~~ actual n~n capita~ ~xp~nditure$~ t~tals appr~ximate~y $6~664~84~~ This reseme serves as lasurance sh~u~d the Village face ~uctuati~ns or de~ays la tax payments~ a m~neta~y judgment~ a natora~ disaster~ ~r ~ther fisca~ difficuities~ The Gaseral Fund "Cash Balance"has dsen from $1,377,554 at December 31, 1985 to $12,206,729 at December 31, 2000 which represented a cash reserve balance 9. Dudng fiscalyear 1989, $725,000 in bend proceeds from the Se~es 1989 Bond Fund (Capital Projects Fund) was transfen-ed to the General Fund for the purposeofpayingashort-tsrrnr~teferthepurchaseofpropertyforr~dev~opmentpurgoses. OnthebatancesheetatDecember31, 1989, $725,310of the fund balance was shown as "Resel~ved for Land Held for Resale ", with a corresponding asset shown as "Investment in Land Held for Resale~ Other reservati~n$ ~f fund balance inc~uded $1~724 for prepaid items and $271~14~ f~r inc~rne tax surcharge attocatlan~ Tbe December 31, 2000 Raserved amount of $10,000 is for PaS~n House (there ia no longer an amount reserved for 'land held for msala ~. 10. TI3ese funds am avaiisbis for any purpose-the "Designate~" reference is to the sou/ce of revenues that v~re dele/mined by the Vi#age BoarE as nof to be used for operab~g expenses. 11. On September l, 1992 the Glanbrook Fire Protection Dlatdct was merged into the Glanvlaw Fire Department. The Fire Pmtectfon Distdct continues to levy property taxes on that part of its tax base outside the Village limits and remits those tax receipts to the Village for sen/ices in the unincorporated ama that now represents its tax base. 12. T~e General Fund ~Fund Balance" at D~cember 31, 2000 of $12,189, 107 is equal to 43 7% of the $27, 870, 707 Budgeted 2001 General Fund exbend~tores excluding transfers for capital purposes. COMBINED STATEMENT--ALL FUNDS(Note 1) Fund Balances 1996-1999 and Summary 2000 Revenues, Excess Revenues and Fund Balance (Audited Fiscal Years Ending December 3'1) Fiscal Year Ended Deceml:~r $1,2000 Revenues Excess Incl. Transfers Revenues property Over Fund Governmental Fund Types: 1996 1997 1998 1999 Tax Total Expenditures Balance GeneralFund ................ $ 8,366,546 $ 9,782,456 $ 11,971,662 $ 13,502,152 $ 5,828,468 $ 29,958,645 $(1,312,955) $ 12,189,197 Special Revenue Funds: IMRF ................... $ (505,782)$ (95,236)$ 24,118 $ 72,445 $ 597,772 $ 990,086 $ 157,079 $ 229,524 Motor Fuel Tax ............. 790,881 574,874 427,814 299,213 0 1,151,940 (92,287) 206,926 CableTV ................. 39,403 - 0- - 0 - - 0- 0 * 0- - 0 - - 0 - Retese and Recycling ........ 297,717 643,865 902,166 1,192,94A 0 1,147,311 205,939 1,398,883 911 Communications ......... 164,510 218,70G 271,111 330,485 0 381,400 67,410 397,895 GNAS Redeveloprnent(2) ...... (316,996) (318,393) (911,2691 (1,385,304) 0 4,512,062 1,389,916 4,612 GNAS Caretaker ............ - 0 - - 0 - 96,304 (31,669) 0 316,602 36,476 4,807 Special Tax Aliocaiton ........ - 0 - - 0 - - 0 - - 0 - 167.092 17.897.215 3,477 3,477 Total Special Revenue ...... $ 469,733 $ 1,023,813 $ 810,244 $ 478,114 $ 764,864 $ 26,396,616 $ 1,768,010 $ 2,246,124 Debt Service Funds ............ 7,493,693 4,416,466 2,388,599 3,651,914 1,923,548 3,849,211 (1,220,670) 2,431,244 Capital Project Funds .......... 62.982.681 48,029,780 25,911,196 84,410,215(10) - 0 - 82,929,189 23.263.021 107.673236 Total Governmental Funds . .. $ 79,312,653 $ 63,252,515 $ 41,081,701 $102,042,395 $ 8,316,880 $143.133,661 $~.,497,406 $124,539,801 Proprietary Fund Type(3,1: Enterprise Funds: Waterworks(4) ............. $ 11,739,689 $ 13,020,016 $15,197,166 $ 16,628,339 $ - 0 - $ 6,585,470 $ 38,629 $ 16,666,968 Sewerage(4) .............. 3,116,253 2,978,395 2,975,588 3,888,659 - 0 - 874,217 (92,383) 3,796,276 Wholesale Water(4) ......... 794,012 1,202,966 783,437 759,400 - 0 - 1,468,681 (25,848) 733,552 North Maine Water and Sewer(4). - 0 - (109,569) (266,5591 (110,109) - 0 - 5,076,400 (311,730) (421,839) Commuter Parking Lot ........ 160,485 97.297 128.026 194.545 - 0 - 217,331 46,0.50 240.595 Total Enterprise Funds ...... $ 15,810,439 $ 17,189,105 $ 18,817,658 $ 21,360,834 $ - 0 - $ 14222,099 $ (345,282) $ 21,015,552 internal Service Funds: Municipal Equipment Repair(5) .. $ 27,996 $ 5,043 $ (38,354 $ 144,454 $ - 0 - $ 1,022,497 $ 81,144 $ 225,598 Insurance ................. 2.466.284 3,056,542 3,407,267 3.847.080 - 0 - 3.046.874 i113.749~ 3,73.~,331 Total lntemal Service Funds .. $ 2.494.280 $ 3,061,585 $ 3,368,913 $ 3,991,534 $ - 0 - $ 4.069.371 $ i32.605~ $ 3,9~,929 Total Proprietary Funds ..... $ 18,304,719 $ 20250,690 $ 22,186,571 $ 25,352,3~8 $ - 0 - $ 18,291,470 $ (377,887) $ 24,974,481 Fiduciary Fund Types(6): Escrow Deposit(7) ............ $ - 0 - $ - 0 - $ 120,593 $ 124,782 $ 0 $ 215,373 $ 24,379 $ 149,161 Deposit .................... 22,900 26,536 29,880 36,080 0 10,327 10,327 46,407 Police Deparb'nent Special Account . 15,393 5,233 13,824 14,847 0 10,818 10,818 25,665 Police Pension ............... 17,597,082 23,553,282 27,211,246 25,629,270 0 4,401,739 3,527,905 29,157,175 Fire0ghters' Pension ........... 31.848.864 34,502,380 37.887.879 36.747.303 0 4.508.798 3,419,586 40.166.889 Total Fiduciary Funds ....... $ 49,484,239 $ 58,087,431 $ 65,263,422 $ 62,552,282 $ 0 $ 9,147,055 $ 6,993,015 $ 69,545~97 Component Unit: LibtaryFund(8) .............. $ 1.659.047 $ 1,978,641 $ 2.001.851 $ 1.875.071 $ 3.150.828 $ 3.573.000 $ (184,388) $ 1.690.683 TntalAIIFunds(MemoOnly) .. $148,760,658 $143,569,277 $130,533,545 $191,822,116 $11,467,708 $174,145,186 $28,928,146 $220,750,262 Cash and Investments at December 31: 1996 1997 1998 1999 2000 GeneralFund ................ $ 6,629,833 $ 9,195,386 $ 8,450,797 $ 10,356,035 $ 12,206,729 Spatial Revenue Funds ......... 1,081,476 1,404,442 1,985,39G 1,877,420 2,160,449 Debt Service Funds ............ 7,708,320 4,414,215 2,478,605 3,653,017 2,427,557 Capital Project Funds: Capital Equipment Replacern~qt . 5,996,561 6,153,619 7,605,563 7,646,046 8,796,785 GNAS Project .............. 52,723,225 37,011,215 15,905,125 59,529,350 63,020,910 All Other Capital Projects ...... 6,030,685 6,843,348 8,424,916 26,006,852 45,522,529 Proprietary Funds ............. 4,053,812 6,662,930 9,763,531 9,563,407 8,943,705 Fiduciary Funds(6) ............ 52,779,240 62,850,801 69,765~91 66,375,530 73,801,575 Component Unit - Library Fund(8) .. 1.674.093 2,101,093 2.166.954 1.988.069 1,559,164 Total Cash and Investments(g). $138,677,245 $136,637,049 $126,546,175 $186,995,726 $218,439,403 164 Notes: I. These condensed financial ststements for the years ending December 31, 1996-2000 have been pmpared from the fuil Comprehensive Annual Fthanclal Reports of the Viilage of Glanvlaw and do not purpo~t to be completo audits. The full financibl statsreents, together wfih the report of the Village's independent accountants, are available upon request. The accounting policies of the Village conform to generally accepted accounilng principles as applicable to gevemmental units. The accounts of the Vi#age am organ~ed on the hesis of funds and account groups, each of which is considered a separate accounllng entity. The various funds are grouped into the three broad calago#es of Governmental Funds, Fiduciary Funds and Prop#e~ary Funds. V~rithin the Governmental Funds are the General Fund (the general operation fund) which is used to account for ail financibl resources except those required to be accounted for in ar~ather fund; Special Revenue Funds ~/flich are used to account for the proceeds of specific revenue sources that are fogbliy restdctsd to expenditures for specified purposes; Debt Sen4ce Funds; and Capital Project Funds. All governmental funds and expendable trust funds are accounted for using a current finanblal resources measurement focus which has only curt'ant assets and current liabilities on the balance sheet and operab~j statements p~essnt increases and decreases in net current assets. All propdatary funds and pension trust funds are accounted for on a flow of economic resources measurement focus with all assets and liabilities associated with the operation of these funds included on the balance sheets and fund equity segregated into contributed caplla~ and retained earnings-~per~tthg statemenbl present increases and decreases in nat tota~ assets~ The modified accrual basts of accounting is followed for afi Governmental Fund Types and Expendable Trust Funds (in the Fiduc ary Funds category). All remaining Fiduciary Funds (Pension Trust Funds) and Proprietary Funds are accounted for using the accrual basis of accounting. The "Report of thdependent Auditors" in the Village's general purpose financial statements for its fiscal year ended December 31, 20~0 included the following language (comparable "clean" opinier~ were included in the Village's fggE-1999 audits shown in this table): n our opinion, the generalpu~ose financfal sYatements referred to above present faaty, ~n alt matenal respects, the financ~a position of the Village of Glanview, Illinois, as of December 31, 2000, and the resufis of its operations and the cash flows of its prophetsry fund types for the year then ended in conformky with generally accepted accounllng principles. Also, in our opinion, the combinieg, th~'vidubl fund, and account group financial statements referred to above pmsent fuidy, in eli material respects, the financial position of each of the individual funds and account groups of the Village of Gienview, Illinois, as of December 31, 2000, 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 Decemher 31, 19~9 and the resuits ~f ~perail~ns for the year then ended~ in c~of~m~ily with genera#y accepfod acc~un~tg pdnc~p~es~" 2. The Glenvlaw Naval Air Station Redeve~pmont Fund was created to account for the resources and expenditures iecumed in the deve~pment of the Glanv~w Naval Air Base land which was vaca~d by the Navy on September 9, 1995. 3. The amounts shown as fund balances for the Propdatary Funds are retained earnings (excludes contdbulad capital) and the amounts shown as FIXED ASSETS AT DECEMBER 31,2000 165 I I ! I I I I i I I I I I I I I I I I