HomeMy Public PortalAbout1987 Comprehensive Annual Financial ReportI
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COMPREHENSIVE
ANNUAL
FINANCIAL REPORT
FOR THE
FISCAL YEAR ENDED
DECEMBER 31, 1987
PREPARED BY
DENNIS M. LAUER
DIRECTOR OF FINANCE
VILLAGE OF GLENVIEW
ILLINOIS
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TABLE OF CONTENTS
INTRODUCTORY SECTION
Principal Officials
Organization Chart
Certificate of Achievement for Excellence in Financial Reporting
Village Manager's Letter of Transmittal
Director of Finance's Letter of Transmittal
FINANCIAL SECTION
AUDITOR'S REPORT ON THE FINANCIAL STATEMENTS
GENERAL PURPOSE FINANCIAL STATEMENTS
Combined Balance Sheet - Ail Fund Types and Account Groups
Combined Statement of Revenues, Expenditures, and
Changes in Fund Balances - Ail Governmental and Fiduciary
(Expendable Trust) Fund Types
Combined Statement of Revenues, Expenditures, and Changes in
Fund Balances - Budget and Actual - General, Special Revenue,
Debt Service, and Capital Projects Fund Types
Combined Statement of Revenues, Expenses, and Changes in
Retained Earnings/Fund Balances - All Proprietary and
Fiduciary (Pension Trust) Fund Types
Combined Statement of Changes in Financial Position -
All Proprietary and Fiduciary (Pension Trust) Fund Types
Notes to the Financial Statements
FINANCIAL STATEMENTS OF INDIVIDUAL FUNDS
GOVERNMENTAL FUND TYPES
GENERAL FUND
CORPORATE FUND
Financial Statements Balance Sheet
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual
PAGE
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1-Z
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TABLE OF CONTENTS (CONT.)
FINANCIAL SECTION (CONT.)
GOVERNMENTAL FUND TYPES (CONT.)
GENERAL FUND (CONT.)
CORPORATE FUND (CONT.)
Supplemental Schedules
Schedule of Revenues - Budget and Actual
Schedule of Expenditures - Budget and Actual
SPECIAL REVENUE FUNDS
Ail Funds
Financial Statements Combining Balance Sheet
Combining Statement of Revenues, Expenditures, and
Changes in Fund Balances
Library Fund
Financial Statements
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual
Supplemental Schedules
Schedule of Expenditures - Budget and Actual
Federal Revenue Sharing Fund
Financial Statements
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual
Illinois Municipal Retirement Fund
Financial Statements
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual
Motor Fuel Tax Fund
Financial Statements
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual
PAGE
44-45
46-56
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TABLE OF CONTENTS (CONT.)
FINANCIAL SECTION (CONT.)
GOVERNMENTAL FUND TYPES (CONT.)
SPECIAL REVENUE FUNDS (CONT.)
Cable TV Fund
Financial Statements
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual
Supplemental Schedules
Schedule of Expenditures - Budget and Actual
DEBT SERVICE FUNDS
Ail Funds
Financial Statements Combining Balance Sheet
Combining Statement of Revenues, Expenditures, and
Changes in Fund Balances - Budget and Actual
CAPITAL PROJECTS FUNDS
All Funds
Financial Statements Combining Balance Sheet
Combining Statement of Revenues, Expenditures, and
Changes in Fund Balances
Public Works Garage Fund
Financial Statements
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual
Capital Equipment Replacement Fund
Financial Statements
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual
Capital Projects Fund
Financial Statements
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual
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TABLE OF CONTENTS (CONT.)
FINANCIAL SECTION (CONT.)
PROPRIETARY FUND TYPES
ENTERPRISE FUNDS
All Funds
Financial Statements Combining Balance Sheet
Combining Statement of Revenues, Expenses, and
Changes in Retained Earnings
Combining Statement of Changes in Financial Position
Waterworks - East Fund
Financial Statements
Statement of Changes in Contributed Capital
Statement of Revenues, Expenses, and Changes in
Retained Earnings - Budget and Actual
Supplemental Schedules
Schedule of Operating Expenses - Budget and Actual
Schedule of Fixed Assets and Depreciation
Waterworks - West Fund
Financial Statements
Statement of Revenues, Expenses, and Changes in
Retained Earnings - Budget and Actual
Supplemental Schedules
Schedule of Operating Expenses - Budget and Actual
Schedule of Fixed Assets and Depreciation
Sewerage Fund
Financial Statements
Statement of Revenues, Expenses, and Changes in
Retained Earnings - Budget and Actual
Supplemental Schedules
Schedule of Operating Expenses - Budget and Actual
Schedule of Fixed Assets and Depreciation
Co~m~uter Parking Lot Fund
Financial Statements
Statement of Revenues, Expenses, and Changes
in Retained Earnings - Budget and Actual
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TABLE OF CONTENTS (CONT.)
FINANCIAL SECTION (CONT.)
PROPRIETARY FUND TYPES (CONT.)
ENTERPRISE FUNDS (CONT.)
Commuter Parking Lot Fund (Cont.)
Supplemental Schedules
Schedule of Operating Expenses - Budget and Actual
Schedule of Fixed Assets and Depreciation
INTERNAL SERVICE FUND
Municipal Equipment Repair Fund
Financial Statements Balance Sheet
Statement of Revenues, Expenses, and Changes
in Retained Earnings - Budget and Actual
Statement of Changes in Financial Position
Supplemental Schedules
Schedule of Operating Expenses - Budget and Actual
FIDUCIARY FUND TYPES
TRUST AND AGENCY FUNDS
All Funds
Financial Statements Combining Balance Sheet
Combining Statement of Revenues, Expenditures, and
Changes in Fund Balances (Expendable
Trust Funds)
Combining Statement of Revenues, Expenses, and
Changes in Fund Balances (Pension Trust Funds)
Combining Statement of Changes in Financial
Position (Pension Trust Funds)
Pension Trust Funds
Police Pension Fund
Financial Statements
Statement of Revenues, Expenses, and
Changes in Fund Balance - Budget and Actual
PAGE
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TABLE OF CONTENTS (CONT.)
FINANCIAL SECTION (CONT.)
FIDUCIARY FUND TYPES (CONT.)
TRUST AND AGENCY FUNDS (CONT.)
Pension Trust Funds (Cont.)
Firemen's Pension Fund
Financial Statements
Statement of Revenues, Expenses, and
Changes in Fund Balance - Budget and Actual
Agency Fund
Deferred Compensation Plan Fund
Financial Statements
Statement of Changes in Assets and Liabilities
ACCOUNT GROUPS
GENERAL FIXED ASSETS ACCOUNT GROUP
Supplemental Schedules
Schedule of General Fixed Assets - By Source
Schedule of General Fixed Assets - By Function
and Activity
Schedule of Changes in General Fixed Assets -
By Function and Activity
GENERAL LONG-TERM DEBT ACCOUNT GROUP
Supplemental Schedules
Schedule of General Long-Term Debt
SUPPLEMENTARY DATA
Required Supplementary Information
Analysis of Funding Progress - Illinois Municipal Retirement
- Police Pension
- Firemen's Pension
Revenues by Source - Illinois Municipal Retirement
Revenues by Source and Expenses by Type - Police Pension
- Firemen's Pension
Combined Schedule of Cash and Investments
Schedule of Insurance in Force
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TABLE OF CONTENTS (CONT.)
FINANCIAL SECTION (CONT.)
SUPPLEMENTARY DATA (CONT.)
Long-TermDebt Requirements
Police Administration Building Bond Series of 1972
Municipal Building Bond Series of 1979
General Obligation Library Bond Series of 1984
General Obligation Library Bond Series of 1985
Special Service Area #1 Bond Series of 1980
Special Service Area #2 Bond Series of 1981
Special Service Area #3 Bond Series of 1981
Special Service Area #4 Bond Series of 1982
Special Service Area #5 Bond Series of 1985
Corporate Purpose Bond Series of 1977
Corporate Purpose Bond Series of 1979
Corporate Purpose Bond Series of 1987
STATISTICAL SECTION
General Governmental Revenues by Source - Last Ten Fiscal Years
General Governmental Expenditures by
Function - Last Ten Fiscal Years
Property Tax Assessed Valuations, Rates, Extensions
and Collections - Last Ten Fiscal Years
Assessed and Estimated Actual Value of Taxable
Property - Last Ten Fiscal Years
Property Tax Rates - Ail Overlapping Governments -
Last Ten Fiscal Years
Special Assessment Collections - Last Ten Fiscal Years
Ratio of Net General Bonded Debt to Assessed
Value and Net Bonded Debt Per Capita -
Last Ten Fiscal Years
Schedule of Direct and Overlapping Debt
Schedule of Legal Debt Margin
Ratio of Annual Debt Service Expenditures for
General Bonded Debt to Total General Governmental
Expenditures - Last Ten Fiscal Years
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TABLE OF CONTENTS (CONT.)
STATISTICAL SECTION (CONT.)
Schedule of Revenue Bond Coverage - Last Ten Fiscal Years
Demographic Statistics - Last Ten Fiscal Years
Construction, Bank Deposits and Property Values - Last Ten Fiscal Years
Principal Taxpayers
Miscellaneous Statistics
Municipal Services and Facilities
Ten Wealthiest Illinois Communities - 1980 Census
Salaries and Surety Bonds of Principal Officials
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Scott J. Helton
Ronald V. Norene
Lowell Scott Weil
VILLAGE OF GLENVIEW, ILLINOIS
PRINCIPAL OFFICIALS
DECEMBER 31, 1987
LEGISLATIVE
VILLAGE BOARD OF TRUSTEES
James W. Smirles, President
Paul T. McCarthy, Clerk
Nancy Firfer
Charles K. Esler
Robert E. Browne
EXECUTIVE
Paul T. McCarthy, Village Manager
FINANCE DEPARTMENT
Dennis M. Lauer, Director of Finance
Mary L. Reibel, Assistant Director of Finance
I. e n v,~,e~o~
VILLAGE CLERK
4 YR. TERM
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VILLAGE
ATTORNEY
BOARD OF TRUSTEES
S MEMBERS
4 YR. TERM
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DIRECTOR OF
PERSONNEL
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NORTRAN
TRUSTEE
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DIRECTOR OF
PUBLIC WORKS
BOARDS AND COMMISSIONS APPOINTED BY THE PRESIDENT
AND BOARD OF TRUSTEES
I PLAN COMMISSION
APPEARANCE COMMISSION
I SENIOR CITIZEN COMMISSION
POLICE AND FIRE COMMISSION
POLICE PENSION BOARD
FIRE PENSION BOARD
ZONING BOARD OF APPEALS
ELECTRICAL COMMISSION
FORESTRY COMMISSION
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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, 1986
^ Certificate of Achievement for Excellence in Financial
Reporting is presented by the Government Finance Officers
Association of the United States and Canada to
governmental units and public employee retirement
systems whose comprehensive annual financial
reports (CAFR's) are judged to substantially
conform to program standards.
President
Executive Director
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L__E n VIE UJ
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1225 WAUKEGAN ROAD
GLENVIEW, ILLINOIS 60025-3071
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April 15, 1988
Honorable President and
Members of the Board of Trustees
Village of Glenview
Gentlemen:
In accordance with state statutes and local regulation, !
hereby transmit the comprehensive annual financial report of
the Village of Glenview as of December 31, 1987 and for the
fiscal year then ended. Responsibility for both the
accuracy of the presented data and the completeness and
fairness of the presentation, including all disclosures,
rest with the Village. Management believes that the data,
as presented, is accurate in all material aspects; that it
is presented in a manner designed to fairly set forth the
financial position and results of operations of the Village
as measured by the financial activity of the various funds.
Disclosures necessary to enable the reader to gain maximum
understanding of the Village's financial affairs have also
been included.
In developing and evaluating the Village's accounting
system, consideration is given to the adequacy of internal
accounting controls. Internal accounting controls are
discussed by the Director of Finance in his accompanying
letter of transmittal, and within that framework, I believe
that the Village's internal accounting controls adequately
safeguard assets and provide reasonable assurance of proper
recording of financial transactions.
This report has been prepared following the guidelines
recommended by the Government Finance Officers Association
of the United States and Canada. The Government Finance
Officers Association awards Certificates of Achievement to
those governments whose comprehensive annual financial
reports are judged to conform substantially with high
standards of public reporting including generally accepted
accounting principles promulgated by the Governmental
Accounting Standards Board. It is my belief that the
accompanying financial report meets the program standards
and it will be submitted to the Government Finance Officers
Association for review. The Village of Glenview has held a
certificate for the last five consecutive fiscal years.
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In ord nce with above mentioned guidelines, the
th.e
accompanying report consists of three parts:
1. Introductory section, a letter of transmittal from the
Director of Finance.
2. Financial section, including the financial statements
and supplemental data of the government accompanied by
our independent auditor's opinion
_
3. Statistical section, including a number of tables of
history of the
unaudited data depicting the financial .
Village for the past ten years, information on
overlapping governments, and demographic and other
miscellaneous information
State law required that the financial state.ments of th.e
Village of Glenview be audited by a certified public
accountant selected by the Board. This requirement ha.s been
complied with, and our auditor, s opinion is included in the
financial section of this report. Of concern to the V.illage
of Glenview, as well as all sectors of the economy, is the
impact of inflation on our budget. Presently our revenues
are strong in all areas with the possible exception of the
water funds. A water rate study is planned for early 1988
to determine what action, if any, is necessary to strengthen
the financial conditions of the water funds. Revenue
projections must be monitored to the
constantly
provide
Board advance notice in the event the revenue patterns
change. The Director of Finance is entrusted with the
responsibility of evaluation and reporting on the financial
condition of the Village.
The preparation of this annual financial report could not
have been accomplished without the dedicated effort of
Dennis Lauer and his entire staff. Their efforts over the
past years maintaining the accounting and financial
reporting systems of the Village of Glenview have continued
to improve the quality of the information being reported to
the Board of Trustees, state oversight boards and the
citizens of Glenview.
Respectfully submitted,
Paul T. McCarthy ~
Village Manager
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April 15, 1988
Mr. Paul T. McCarthy, Village Manager
I Village of Glenview
Glenview, Illinois 60025
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The Comprehensive Annual Financial Report of the Village of
Glenview for the fiscal year ended December 31, 1987 is
submitted herewith. This report was prepared by the
Village's Finance Department. Responsibility for both the
accuracy of the presented data and the completeness and
fairness of the presentation, including all disclosures,
rests with the Village. I believe the data, as presented,
is accurate in all material aspects; that it is presented in
a manner designed to fairly set forth the financial position
and results of operations of the Village as measured by the
financial activity of its various funds; and that all
disclosures necessary to enable the reader to gain the
maximum understanding of the Village's financial affairs
have been included.
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Accounting System and Budgetary Control
In developing and evaluating the Village's accounting
system, consideration is given to the adequacy of internal
accounting controls. Internal accounting controls are
designed to provide reasonable, but not absolute, assurance
regarding the safeguarding of assets against loss from
unauthorized use or disposition and the reliability of
financial records for preparing financial statements and
maintaining accountability for assets. The concept of
reasonable assurance recognizes that the cost of a control
should not exceed the benefits likely to be derived and the
evaluation of costs and benefits requires estimates and
judgments by management.
Ail internal control evaluations occur within the above
framework. I believe that the Village's internal accounting
controls adequately safeguard assets and provide reasonable
assurance of proper recording of financial transactions.
Budgetary control is maintained at the department and/or
subdepartment level by estimating purchase amounts prior to
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the release of purchase orders to vendors. Purchase orders
I which result in an overrun of account budgets
are
not
released until appropriate budget transfers have been made.
Open purchase orders, if any, are reported as reservations
i of fund balance at December 31, 1987.
The Reporting Entity and Its Services
I of the funds and account groups of
This
report
includes
all
the Village. It also includes all activities considered to
be part of (controlled by or dependent on) the Village, as
I determined by the application of the criteria set forth in
"Defining the Governmental Reporting Entity - GASB
Codification Section 2100". In accordance with GASB
i Codification Section 2100 for financial reporting purposes
the Village's financial statements include all funds,
account groups, departments, agencies, boards, commissions
and other organizations over which Village officials
I exercise oversight responsibility.
Oversight responsibility includes such aspects as
I appointment of governing body members, budget approval,
approval of property tax levies, outstanding debt secured by
Village full faith and credit or revenues and responsibility
for funding deficits.
I The Village considered the following entities when imple-
menting GASB Codification Section 2100:
I Glenview Park District
Glenbrook Fire Protection District
I Although these entit~es may operate within the Village's
Boundaries, and are similar in nomenclature and scope of
i public service, the criteria in GASB Codification Section
2100 did not require inclusion of these entities in the
Village's financial statements as component units because
they have their own oversight boards, their expenditures are .
I financed from sources other than the Village, and the
Village has no obligation for their debts.
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Intergovernmental Personal Benefit Cooperative (IPBC)
IPBC is a cooperative established to administer personnel
benefit programs for local governments. Management consists
of a Board of Directors comprised of one representative from
each member. The Village does not exercise any control over
the activities of the Cooperative beyond its representation
on the Board of Directors. IPBC is reported as a govern-
mental joint venture.
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The Village provides the full range of municipal services
I or This includes public
contemplated
by
statute
charter.
safety (police and fire), highways and streets, sanitation,
health and social services, culture-recreation, cable
I television, public improvements, planning and zoning, and
general administrative services.
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General Governmental Functions
Revenues for General, Special Revenue and Debt Service Fund
purposes totaled $14,565,435 in 1987, an increase of 8.8
percent over 1986. Taxes produced 72.8 percent of general
revenues compared to 69.6 percent last year. The large
increase in tax revenue is mainly real estate taxes. For
the last several years the Village has maintained a tax rate
(exclusive of the Public Library) as close to .60 as
possible. Because of increases in the Villages assessed
valuation and the tax rate held constant, the Village
realized an increase in tax revenue. Miscellaneous revenue
is down $381,093 from 1986. In the prior year the sale of a
large parcel of land was included in miscellaneous revenue.
The land transaction was the Village owned parcel which is
now the Patton House, a senior citizens development. The
amount of revenues from various sources and the change from
last year are shown in the following tabulation:
1987 REVENUE
Revenue Source
Increase
Percent (decrease)
Amount of total from 1986
Taxes $10,605,747 72.8%
Licenses & Permits 1,231,324 8.5
Intergovernmental 643,842 4.4
Charges for Service 773,509 5.3
Fines and Forfeits 266,382 1.8
Miscellaneous 1,044,631 7.2
$1,285,564
131,974
<23,868>
178,530
<12,447>
<381,093>
Total $14,565,435 100% $1,178,660
Expenditures for General, Special Revenue and Debt Service
Fund purposes totalled $13,451,175, an increase of 17.4
percent over 1986. The large increase in General
Government, Public Safety and Highways and Streets, .is all
personnel related. The authorized strength for the police,
fire and public works departments was increased for 1987.
The related expenses such as recruitment, medical expenses
and insurance are included in General Government. In 1987
the Public Library Fund was made responsible for the debt
service on the new expansion project. As a result the
expense area of Culture-Recreation shows a large increase
over 1986. Increases in levels of expenditures for major
functions of the Village over the preceding year are shown
in the following tabulation:
I LEIIVIEUJ
1987 E~PE~DITURES
i Percent
Amount of total
General Government $2,568,734 19.1
I Public Safety 5,013,039 37.3
Highways and Streets 2,193,805 16.3
Welfare 1,036,634 7.7
Culture-Recreation 1,806,620 13.4
I Debt Service 832,343 6.2
Total $13,451,175 100%
Increase
(Decrease)
from 1986
$510,707
420,972
240,974
83,165
778,934
<39,087>
$1,995,665
I Tax Rate
The 1987 assessed valuation estimate of $419 million
i represents an decrease of .35 percent from the preceding
year actual assessed valuation. The decrease in the
estimated assessed value is a function of a decrease in the
state equalization factor. The state has decreased the
I equalization factor several times over the last I
years.
anticipate another decrease.
I The Village collected 98.2% of the current year's (1986) tax
levy. Property taxes which are delinquent more than one
year have been written off; subsequent collections of such
i taxes are reflected as "prior year tax revenue" in the year
collected. Allocations of the property tax levy by purpose
for 1987 and the preceding three levy years are as follows
(amounts per $100/assessed value):
I Purpose 1987' 1986 1985 1984
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General Fund .3526 .3282 .2626 .2362
Special Revenue Funds .0516 .0514 .9672 .0668
General Obligation Debt .0576 .0796 .2147 .1804
Pension Trust Funds .1734 .1818 .2051 .1945
Total Village Rate . 3~ .6410 ~ ~
Glenview Public Library .3928 .3620 .2420 .1711
Total Combined Rate $1.0280 $1.0030 $0.9916 $0.8490
* Estimated
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The Glenview Public Library Fund is considered to be a
special revenue fund. The Cook County Clerk now separates
the Village and Library tax rates on the real estate tax
bills. It is the desire of the Village Board to also make
that distinction. For that reason the two are separated here
also.
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to be $0.025 higher than
the final rate for 1986. The general obligation debt rate
decreased from $0.0796 to $0.0576. For the discussion in
this section of the letter the "tax rate" refers to the
combined rate. The Illinois Municipal Retirement Fund rate
is included with other funds classified as Special Revenue
Funds. Police Pension and Firemens Pension ~und tax rates
are combined and are shown under the heading Pension Trust
Funds.
Debt Administration
The ratio of net bonded debt to assessed valuation and the
amount of bonded debt per capita are useful indicators of
the Village's debt position to municipal management,
citizens, and investors. This data for the Village of
Glenview at the end of the 1987 fiscal year is as follows:
Special
Special
Special
Special
Special
Gross Bonded Debt
Police Administration Building Bonds, 1972
Municipal Building Bonds, 1979
General Obligation Library Bonds, 1984
General Obligation Library Bonds, 1985
Service Area ~1 Bonds
Service Area %2 Bonds
Service
Service
Service
Area #3 Bonds
Area ~4 Bonds
Area #5 Bonds
Corporate Purpose Bonds, 1977
Corporate Purpose Bonds, 1979
Corporate Purpose Bonds, 1987
Gross Bonded Debt
December 31, 1987
$ 200,000
400,000
2,700,000
50,000
21,000
27,025
17,781
63,090
45,590
2,925,000
4,225,000
273,800
$10,948,286
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i Gross
Ratio of debt to
Amount assessed value *
Bonded Debt $10,948,286 2.61%
· Estimated 1987 assessed valuation $419,000,~00
· * Estimated 1987 Population 36,375
Debt per
capita **
$300.98
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Gross Bonded Debt at December 31, 1987 totaled $10,948,286
as shown above. However, $7,423,800 is the balance
remaining on bonds issued for water system
improvements. These issues are identified as Corporate
Purpose Bonds, 1977,1979 and 1987. Because these bonds are
being retired with water fund revenue, they are considered
self-supporting. The five special service area bonds were
issued in the name of the Village of Glenview and in theory,
constitute a debt of the Village. Their outstanding
balances total $174,486. These issues are being retired by a
tax applied only to the special service area affected.
Therefore, they are excluded, as are the water improvement
bonds from the following calculation. Below is a
recalculation of the ratio of debt to assessed value and
debt per capita based on net bonded debt. Net bonded debt,
is debt less monies available in the Debt Service Fund.
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Net
Bonded Debt
Ratio of debt to Debt per
Amount assessed value * capita **
$2,754,042 .66% $75.71
*See Notes Above
Moody's Investors Service
The Village's General Obligation Bonds continue to have the
Aa rating which they have carried for the past several
years. It should be pointed out that the Village of
Glenview has no outstanding revenue bonds as of December 31,
1987. On August 21, 1984 the Village Board adopted
Ordinance #2582 defeasing the remaining revenue bonds. The .
bond issue was scheduled to reach final maturity in 1988.
Cash Management
Cash temporarily idle during the year was invested in
savings accounts, short term certificates of deposit, money
market funds, U. S. treasury notes, bonds and Government
National Mortgage Association bonds held mainly for the
Police and Firemens Pension Funds. The average yield on
short term investments held on December 31, 1987, was 7.29
percent. All of the investments held as of December 31,
1987 conform to all of the provisions of the Village's
investment policy as it was adopted on February 21, 1983,
and to GASB statement 3.
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Risk Management
The Village of Glenview is involved with an internally
managed safety and risk management program. A Safety
Committee has been formed to review and discuss accident
reports and keep management informed of possible
improvements in safety practices. The Committee is
comprised of members from each department and the Village's
insurance company representative.
Significent Activities Not Evident In The Financial Section
The Zenith Electronics Corporation International Head-
quarters is located in unincorporated Cook County adjacent
to the Village of Glenview. In 1983 the Village and Zenith
entered into a preannexation agreement which extended water
to their property in exchange for annexation in 1988. When
the Zenith land is annexed, the Zenith Corporation will
become the Village's largest taxpayer.
Significant Local. Economic Events
The General Fund has several revenue sources, however, sales
tax is the largest source. In 1986 automotive sales
represented 39% of all sales tax collections. In 1987
automotive sales were 35% of all sales tax collected. Two
new automotive dealerships were opened in late 1987. Their
presence should have a significant impact on sales tax
revenue in 1988.
Capital Projects Funds
Proceeds of general obligation bond issues are accounted for
in Capital Projects Funds until improvement projects are
completed. Completed projects and uncompleted construction
in progress at year end are capitalized in the General Fixed
Assets Account Group. The last bond issue was in 1985. The
proceeds were used to complete the library expansion
project. The next scheduled bond issue will be in early,
1989. Proceeds from that sale will be used for water
improvements and improvements to Glenview Road East.
General Fixed Assets
The general fixed assets of the Village are those fixed
assets used in the performance of general governmental
functions and exclude the fixed assets of Enterprise and
Internal Service Funds. As of December 31, 1987, the
general fixed assets of the Village amounted to $19,412,107.
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This amount represents the original cost of the assets and
I is considerably less than their
present
value.
Depreciation
of general fixed assets is not recognized in the Village's
accounting system.
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Waterworks Funds
i The financial position of the Waterworks Fund-East weakened
as a result of operation in fiscal year 1987. The fund
experienced operating income exclusive of depreciation, of
$509,255 down from $543,851 last year. A complete analysis
I of this fund will be submitted to the Board with
along
a
recommendation for a rate increase in early 1988. The last
rate adjustments were approved and went into effect in 1986.
I Waterworks Fund-West ended the year in a stable financial
position. This fund ended the year with a net operating
i income, exclusive of depreciation, of $1,223,169. The
reserve balance as of December 31, 1987 is adequate to
properly administer this fund.
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BOND COVERAGE
East Fund West Fund
1987 1987
Operating
revenue $2,116,411 $2,533,231
Operating
expenses
Operating
i.ncome
1,607,156
$509,255
1,310,062
$1,223,169
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Annual Debt
Service
Coverage (income
available for
debt service
divided by
average annual
debt service)
$ 21,075 $915,017
24.16 1.34
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The annual debt service for the East Fund represents 60% of
the total due on the 1987 elevated tank repair bonds. The
balance is paid by the West Fund.
Independent Audit
State Statutes require an annual audit of the books of
account, financial records, and transactions of all
administrative departments of the Village by independent
certified public accountants selected by the Board of
Trustees. This requirement has been complied with and the
auditor's opinion has been included in this report.
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Certificate of Achievement
The Government Finance Officers Association of the United
States and Canada (GFOA) awards a Certificate of Achievement
to units of Government for the comprehensiveness of its
financial report. The Certificate of Achievement For
Excellence In Financial Reporting program was formerly known
as the Certificate of Conformance in Financial Reporting. In
order to be awarded a Certificate of Achievement, a govern-
mental unit must publish an easily readable and efficiently
organized comprehensive annual financial report, whose
contents conform to program standards. Such reports must
satisfy both generally accepted accounting principles and
applicable legal requirements.
A Certificate of Achievement is valid for a period of one
year only. I believe our current report conforms to the
program requirements. I will submit this report to GFOA to
determine its eligibility for a certificate.
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The Village of Glenview currently holds a Certificate of
Achievement for its Comprehensive Annual Financial Report
for the year ended December 31, 1986. The 1986 award
represents the fifth consecutive year the Village has
received the honor.
Prospects for the Future
The Village's five year capital improvement program
continues to be a valuable planning tool. Not only is
future planning more efficient, the ability to match.
resources with future needs more accurate. Some of the
major projects planned in the next few years are listed
below:
Burr Oak Drive and Mickey Lane are scheduled for storm sewer
and road repairs in 1988. Prairie Street east of Lehigh is
also listed for reconstruction. In 1989 Glenview Road from
the center of town east to Edens Highway will be
reconstructed. In addition, the storm and sanitary sewers
water service below Glenview Road will be improved. The
interconnection between the Village's water system and
Citizens Utility Company is planned for 1990. Completion of
that project will permit the Village to sell water to the
utility company.
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Ac knowl edgement s
The preparation of this report on a timely basis could not
be accomplished without the efficient and dedicated services
of the entire staff of the Finance Department. I should
like to express my appreciation to all members of the
Department who assisted and contributed to its preparation.
I should also like to thank the President and Board of
Trustees for their interest and support in planning and
conducting the financial operations of the Village in a
professional and progressive manner.
~vely submitted,
Dennis M. Lauer
Director of Finance
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Financial Section
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The Honorable James W. Smirles, Village President
Members of the Board of Trustees
Village of Glenview
1225 Waukegan Road
Glenview, Illinois 60025
We have examined the general purpose financial statements of the
Village of Glenview, Illinois and the combining, individual fund, and
account group financial statements of the Village as of and for the
year ended December 31, 1987 as listed in the table of contents. Our
examination was made in accordance with generally accepted auditing
standards and, accordingly, included such tests of the accounting
records and such other auditing procedures as we considered necessary
in the circamstances.
In our opinion, the general purpose financial statements referred to
above present fairly the financial position of the Village of Glenview,
Illinois, at December 31, 1987, and the results of its operations and
the changes in financial position of its proprietary fund types and
similar trust funds for the year then ended, in conformity with
generally accepted accounting principles applied on a basis consistent
with that of the preceding year. Also, in our opinion, the combining,
individual fund, and account group financial statements referred to
above, present fairly the financial position of the individual funds
and account groups of the Village of Glenview, Illinois at December 31,
1987 and the results of operations of such funds and the changes in
financial position of individual proprietary funds and similar trust
funds for the year then ended, in conformity with generally accepted
accounting principles applied on a basis consistent with that of the
preceding year.
Bank of Wheaton Building · 21 ! Sou th Wheaton Avenue · Wheaton, Illinois 60 ! 87 · (312) 665 -4510
Village of Glenview, Illinois 2
Our examination ~as made for the purpose of forming an opinion on the
general purpose financial statements taken as a whole and on the
combining, individual fund, and account group financial statements. The
accompanying financial information listed as supplemental in the table
of contents is presented for purposes of additional analysis and is not
a required part of the general purpose financial statements of the
Village of Glenview, Illinois. The information has been subjected to
the auditing procedures applied in the examination of the general
purpose, combining, individual fund, and account group financial
statements and, in our opinion, is fairly stated in all material
respects in relation to the general purpose financial statements taken
as a whole.
The statistical information listed in the table of contents was not
examined by us and, accordingly, we do not express an opinion thereon.
Karrison & Byrne
March 31, 1988
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VILLAGE OF GLENVIEW, ILLINOIS
ALL FUND TYPES AND ACCOUNT GROUPS
COMBINED BALANCE SHEET
DECEMBER 31, 1987
(See Following Page)
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VILLAGE OF GLENVIEW, ILLINOIS
ALL PROPRIETARY AND FIDUCIARY (PENSION TRUST) FUND TYPES
COMBINED STATEMENT OF REVENUES, EXPENSES,
AND CHANGE8 IN RETAINED EARNINGS/FUND BALANCES
FOR THE YEAR ENDED DECEMBER 31, 1987
Operating R~venues
Charges for Services
Contributions
Miscellaneous
Total Operating R~venues
Imcome (Loss) before Operating Transfers
Operating Transfers In
Operating Transfers (Out)
Net Income (Loss)
Retained Earnings/Fund Balances
January 1
P~ior Period Adjustment
Adjusted Balances
Residual Equity Transfer In
Residual Equity Transfer (Out)
December 31
Fiduciary
Proprietary Fund Types Fund Types Totals
Internal Pension (Memorandum Only)
Enterprise Service Trust 1987 1986
$ 764,634 $ 764,634 $ 817,853
$5,190,246 $369,880 5,560,126 5,040,999
285,350 285,950 254,708
114,282 11,229 1,971,944 2,097,455 1,783,638
5,304,528 381,109 3,021,928 8,707,565 7,897,192
615,737 615,737 54[,852
2,542,444 398,306 2,940,750 2,621,001
344,840 344,840 369,496
400,224 400,224 384,159
49,367 49,367 15,828
3,503,021 398,306 449,591 4,350,918 3,932,336
1,801,507 (17,197) 2,572,337 4,356~647 3,964,856
38,129 3,485 41,614 38,461
(459,892) (459,892) (477,055)
110,665 110,665 29,597
(90,I84)
(311,098) 3,485 (307,613) (499,181)
1,490,409 (13,712) 2,572,337 4,049,034 3,465,675
128,445 128,445 75,000
(431,982) (431,982) (283,584)
(303,537) (303,537) (208,584)
1,186,872 (13,712) 2,572,337 3,745,497 3,257,091
6,555,368 96,957 12,765,654 19,417,979 15,630,489
(89,850) (89,850) 530,399
6,465,518 96,957 12,765,654 19,328,129 16,160,888
1,550,739
(1,550,739)
6,465~518 96,957 12,765,654 19,328,129 16,160~888
$7,652,390 $ 83,245 $15,397,991 $23,073,626 $19,417,979
See accompanying Notes to the Financial Statements.
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7
V~]~gE OF GI~Yvq~W, ]~LINOIS
ALL PItOPRI~TARY Ab~ FIDUCIARY (PENSION ~ST) FUb~ TYPES
CC~MIB~D ~ OF CHANTS IN FII~NCIAL POSITION
FOR THE YEAR ~t~) DE(~I~R 31, 1987
Cash Was Provided By
Cperat ions
Not Inccme
Depreciation
Decrease in Current Assets
Fixed Assets %'~ansfered Cut
Increase in Current Liabilities
Prior Period ~djus~nts
Residtml Equity Trm~sfer In
Fixed Assets Botired
Proceeds frcm Sale of
C~neral Obligation Bonds
Cash Was Used ~o Fund Net Loss
Increase Carrent Assets
Increase Fixed Assets
Fixed Assets T~msfered In
Increase Construction in Progress
Decrease Current Liabilities
Botire Bond Principal
Decrease Contributed Capital
Bosidual F~quity Tr~msfers CUt
Prior Boried ~djtmt~ent
NOt Increase (Decrease)
Cash and Investments
January 1
December 31
Fidnsia~y
m~prietary mrna Types Fond Types ~btals
Internal Pension (Mmmorand~n Only)
Enterprise Service Trust 1987 1986
$1,186,872 $ 2,572,337 $ 3,759,209 $ 3,257,091
344,839 3~4,839 369,496
1,531,711
1,3~8
14,361
300,000
2,572,337 4,104,048 3,626,587
$ 1,100 78,976 80,076 114,778
1,425,901
745 2,093 93,891
530,399
1,550,739
14,361
1,847,420 1,845 2,651,313 4,500,578 7,342,295
13,712 13,712
734,524 114,732 849,256
81,496 81,496
172,497 172,497
476,200 476,200
89,850 89,850
696,284
322,203
1,425,901
92,890
287,106
425,000
134,494
1,550,739
1,554,567 13,712 114,732 1,683,011 4,934,617
292,853 (11,867) 2,536,581 2,817,567 2,407,678
394,130 90,397 11,749,777 12,2~4,304 9,826,626
$ 686,983 $ 78,530 $14,286,358 $15,051,871 $12,234,304
See accompanying Notes to the Fina~ial Statemmmts.
VILLAGE OF GLENVIEW, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1987
1. S~ary of Significant Accounting Policies
The accounting policies of the Village of Glenview, Illinois conform to
generally accepted accounting principles as applicable to governments. The
following is a summary of the more significant policies.
A. Reporting Entity and Its Services
This report includes all of the funds and account groups of the Village.
It also includes all activities considered to be part of (controlled by or
dependent on) the Village, as determined by the application of the criteria
set forth in "Defining the Governmental Reporting Entity - GASB Codifica-
tion Section 2100". In accordance with GASB Codification Section 2100, for
financial reporting purposes the Village's financial statements include all
funds, account groups, departments, agencies, boards, conmnissions and
organizations over which Village officials exercise oversight responsi-
bility. For Joint Venture disclosures see Note 5.
Oversight responsibility includes such aspects as appointment of governing
body members, budget approval, approval of property tax levies, outstanding
debt secured by Village full faith and credit or revenues, and responsi-
bility for funding deficits.
The Village considered the following entities when implementing GASB Codi-
fication Section 2100:
Glenview Park District
Glenbrook Fire Protection District
Although these entities may operate within the Village's boundaries,
and are similar in nomenclature and scope of public service, the
criteria in GASB Codification Section 2100 did not require inclusion
of these entities in the Village's financial statements as component
units because they have their own oversight boards, their expendi-
tures are financed from sources other than the Village, and the
Village has no obligation for their debts.
Intergovernmental Personal Benefit Cooperative (IPBC)
"IPBC is a cooperative established to administer personnel benefit
programs for local governments. Management consists of a Board of
Directors comprised of one representative from each member. The
Village does not exercise any control over the activities of the
Cooperative beyond its representation on the Board of Directors.
IPBC is reported as a governmental joint venture (Note 5).
The Village of Glenview, Illinois was incorporated in 1899. The Village
operates under a Council-Manager form of government and provides the
following services as authorized by its charter: public safety (police and
fire), highways and streets, sanitation, health and social services,
culture-recreation, public improvements, planning and zoning, and general
administrative services.
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VILLAGE OF GLENVIEW, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1987
1. Summary of Significant Accounting Policies (Cont.)
B. Basis of Presentation - Fund Accounting
The accounts of the Village are organized on the basis of funds and account
groups, each of which is considered a separate accounting entity. The
operations of each fund are accounted for with a separate set of self-
balancing accounts that comprise its assets, liabilities, fund equity,
revenues, and expenditures, or expenses, as appropriate. Government
resources are allocated to and accounted for in individual funds based upon
the purposes for which they are to be spent and the means by which spending
activities are controlled. The various funds are grouped, in the financial
statements in this report, into generic fund types and broad fund
categories as follows:
GOVERNMENTAL FUNDS
General Fund - The General Fund is the general operating fund of the
Village. It is used to account for all financial resources except those
required to be accounted for in another fund.
Special Revenue Funds - Special Revenue Funds are used to account for the
proceeds of specific revenue sources (other than expendable trusts, or
major capital projects) that are legally restricted to expenditures for
specified purposes.
Debt Service Funds - Debt Service Funds are used to account for the accumu-
lation of resources for, and the payment of, general long-term debt princi-
pal, interest, and related costs.
Capital Projects Funds - Capital Projects Funds are used to account for fi-
nancial resources to be used for the acquisition or construction of major
capital facilities (other than those financed by Proprietary Funds and
Trust Funds).
PROPRIETARY FUNDS
Enterprise Funds - Enterprise Funds are used to account for operations (a)
that are financed and operated in a manner similar to private business
enterprises - where the intent of the governing body is that the costs
(expenses, including depreciation) of providing goods or services to the
general public on a continuing basis be financed or recovered primarily
through user charges; or (b) where the governing body has decided that
periodic determination of revenoes earned, expenses incurred, and/or net
income is appropriate for capital maintenance, public policy, management
control, accountability, or other purposes.
VILLAGE OF GLENVIEW, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1987
1. S~,~mary of Significant Accounting Policies (Cont.)
B. Basis of Presentation - Fund Accounting (Cont.)
PROPRIETARY FUNDS (CONT.)
Internal Service Funds - Internal Service Funds are used to account for the
financing of goods or services provided by one department or agency to
other departments or agencies of the Village, or to other governments, on a
cost-reimbursement basis.
FIDUCIARY FUNDS
Trust and Agency Funds - Trust and Agency Funds are used to account for
assets held by the Village in a trustee capacity or as an agent for
individuals, private organizations, other governments, and/or other funds.
These include Expendable Trust, Pension Trust Funds and Agency Funds.
Pension Trust Funds are accounted for in essentially the same manner as
proprietary funds since capital maintenance is critical. Expendable Trust
Funds are accounted for in essentially the same manner as governmental
funds. Agency Funds are custodial in nature (assets equal liabilities) and
do not involve measurement of results of operations.
ACCOUNT GROUPS
General Fixed Assets Account Group - The General Fixed Assets Account Group
is used to account for all fixed assets which are not accounted for in
Enterprise, Internal Service, or Trust Funds.
General Long-Term Debt Account Group - The General Long-Term Debt Account
Group is used to account for all long-term debt not accounted for in
Enterprise, Internal Service, or Trust Funds.
C. Basis of Accounting
Basis of accounting refers to when revenues
are recognized in the accounts and reported
Basis of accounting relates to the timing
regardless of the measurement focus applied.
and expenditures or expenses
in the financial statements.
of the measurements made,
All Governmental Funds and Expendable Trust Funds are accounted for using
the modified accrual basis of accounting. Their revenues are recognized
when they become measurable and available as net current assets. The
Village's share of State-assessed income taxes, gross receipts, and sales
taxes are considered "measurable" when in the hands of intermediary
collecting governments and are recognized as revenue at that time.
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VILLAGE OF GLENVIEW, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1987
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1. Summary of Significant Accounting Policies (Cont.)
C. Basis of Accounting (Cont.)
Anticipated refunds of such taxes are recorded as liabilities and
reductions of revenue when they are measurable and their validity seems
certain. Revenues considered to be susceptible to accrual are:
Property
Sales
Income
Utility
Intergovernmental Revenues
Motor Fuel Tax Allotments
Expenditures are generally recognized under the modified accrual basis of
accounting when the related fund liability is incurred.
Ail Proprietary Funds and Pension Trust Funds are accounted for using the
accrual basis of accounting. Their revenues are recognized when they are
earned, and their expenses are recognized when they are incurred. Unbilled
Waterworks and Sewerage Fund utility service receivables are recorded at
year end.
Agency Fund assets and liabilities are accounted for on the modified
accrual basis.
D. Budgets and Budgetary Accounting
The Village follows these procedures in establishing the budgetary data
reflected in the financial statements:
The Village Manager submits to the Board of Trustees a proposed
operating budget for the fiscal year commencing the following January
1. The operating budget includes proposed expenditures and the means
~f financing them.
2. Budget hearings are conducted.
3. The budget is legally adopted in total by the President and Board of
Trustees.
The Village 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 Board of
Trustees.
VILLAGE OF GLENVIEW, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1987
Su~mnary of Significant Accounting Policies (Cont.)
D. Budgets and Budgetary Accounting (Cont.)
5. Budgets are adopted on a basis consistent
accounting principles.
with
generally
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The following funds adopt annual operating budgets:
Fund
accepted
General
Corporate
Budgetary Basis of Accounting
Special Revenae
Library
Federal Revenue Sharing
Illinois Municipal Retirement
Motor Fuel Tax
Cable TV
Modified Accrual
Debt Service
Waukegan Road Sanitary
District Bond Series of 1968
Police Administration
Building Bond Series of 1972
Public Library Parking Lot Bond
Series of 1976
Municipal Building Bond Series of 1979
Library Bond Series of 1984
Library Bond Series of 1985
Special Service Area No. 1 of 1980
Special Service Area No. 2 of 1981
Special Service Area No. 3 of 1981
Special Service Area No. 4 of 1982
Special Service Area No. 5 of 1985
Modified Accrual
Modified Accrual
Modified Accrual
Modified Accrual
Modified Accrual
Modified Accrual
Modified Accrual
Capital Projects
Public Works Garage
Cap£tal Equipment Replacement
Capital Projects
Modified Accrual
Modified Accrual
Modified Accrual
Modified Accrual
Modified Accrual
Modified Accrual
Modified Accrual
Modified Accrual
Modified Accrual
Enterprise
Waterworks - East
Waterworks - West
Modified Accrual
Modified Accrual
Modified Accrual
Accrual
Accrual
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VILLAGE OF GLENVIEW, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1987
1. Summary of Significant Accounting Policies (Cont.)
D. Budgets and Budgetary Accounting (Cont.)
5. ( Cont. )
Fund
Enterprise (Cont.)
Sewerage
Commuter Parking Lot
Budgetary Basis of Accounting
Accrual
Accrual
Internal Service
Municipal Equipment Repair
Accrual
Trust
Police Pension Accrual
Firemen's Pension Accrual
The level of control (level at which expeditures may not exceed budget) is
the Fund. Budgets lapse at year end. No supplemental budget was enacted.
E. Assets, Liabilities, and Fund Equity
Investments
Investments are stated at cost or amortized cost, which approximates
market except for Deferred Compensation Plan Fund investments, which are
stated at market value.
Inventory
Inventory is valued at the lower of cost (first-in, first-out) or market.
Inventory is recorded on a basis of a physical count.
Fixed Assets and Long-Term Liabilities
The accounting and reporting treatment applied to the fixed assets and
long-term liabilities associated with a fund are determined by its
measurement focus. Ail Governmental Funds and Expendable Trust Funds are
accounted for on a spending or "financial flo~' measurement focus. This
means that only current assets and current liabilities are generally
included on their balance sheets. Their reported fund balance (net current
assets) is considered a measure of "available spendable resources."
Governmental fund operating statements present increases (revenues and
other financing sources) and decreases (expenditures and other financing
VILLAGE OF GLENVIEW, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1987
Summary of Significant Accounting Policies (Cont.)
E. Assets, Liabilities, and Fund Equity (Cont.)
Fixed Assets and Long-Term Liabilities (Cont.)
uses) in net current assets. Accordingly, they are said to present a
summary of sources and uses of "available spendable resources" during a
period.
Fixed assets used in governmental fund type operations (general fixed
assets) are accounted for in the General Fixed Assets Account Group, rather
than in governmental funds. Public domain ("infrastructure") general fixed
assets consisting of certain improvements other than buildings, including
roads, bridges, curbs and gutters, streets and sidewalks, drainage systems,
and lighting systems, are not capitalized along with other general fixed
assets. No depreciation has been provided on general fixed assets.
Ail fixed assets are valued at historical cost or estimated historical cost
if actual historical cost is not available. Donated fixed assets are
valued at their estimated fair value on the date donated.
Long-term liabilities expected to be financed
accounted for in the General Long-Term Debt
governmental funds.
from governmental funds are
Account Group, not in the
The two account groups are not "funds." They are concerned only with the
measurement of financial position. They are not involved with measurement
of results of operations.
Because of their spending measurement focus, expenditure recognition for
governmental fund types is limited to exclude amounts represented by
noncurrent liabilities. Since they do not affect net current assets, such
long-term amounts are not recognized as governmental fund type expenditures
or fund liabilities. They are instead reported as liabilities in the
General Long-Term Debt Account Group.
Ail Proprietary Funds and Pension Trust Funds are accounted for on a cost
of services or "capital maintenance" measurement focus. This means that
all assets and all liabilities (whether current or noncurrent) associated
with their activity are included on their balance sheets. Their reported
fund equity (net total assets) is segregated into retained earnings
components. Proprietary fund type operating statements present increases
(revenues) and decreases (expenses) in net total assets.
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VILLAGE OF GLENVIEW, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1987
15
1. Summary of Significant Accounting Policies (Cont.)
E. Assets, Liabilities, and Fund Equity (Cont.)
Fixed Assets and Long-Term Liabilities (Cont.)
Depreciation of all exhaustible fixed assets used by proprietary funds is
charged as an expense against their operations. Accumulated depreciation
is reported on proprietary fund balance sheets. Depreciation has been
provided over the estimated useful lives using the straight line method.
The estimated useful lives are as follows:
System and Mains
Buildings
Improvements
Equipment
50 years
25-50 years
10-20 years
3-10 years
F. Revenues, Expenditures, and Expenses
Property Tax Revenue Recognition
1987 property taxes attach as an enforceable lien on January 1, 1987. They
are levied the subsequent September (by passage of a Tax Levy Ordinance).
Tax bills are prepared by the County and issued on or about February 1,
1988 and August 1, 1988, and are payable in two installments, on or about
March 1, 1988 and on or about September 1, 1988. The County collects such
taxes and remits them periodically. Property tax revenues are recognized
when they become both measurable and available, in accordance with GASB
Codification Section P70.
Property taxes receivable which are delinquent more than one year have been
written off; subsequent collections of such taxes are reflected as "prior
years' taxes" revenue in the period received.
Accumulated Unpaid Compensated Absences
Village employees are granted vacation pay in varying amounts. The Village
has calculated accrued vacation pay of $197,821 at December 31.
Acctunulated unpaid compensated absences are reflected in the financial
statements in accordance with NCGA Statement 4 and SFAS 43 provisions.
Such amounts are accrued when incurred in proprietary funds (using the
accrual basis of accounting). Amounts (current portion) are accrued in
governmental funds (using the modified accrual basis of accounting). The
Village considers all accomulated unpaid compensated absences to be
current.
VILLAGE OF GLENVIEW, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1987
I. Summary of Significant Accounting Policies (Cont.)
G. Financial Reporting
Comparative Data
Comparative total data for the prior year have been presented in the
accompanying financial statements in order to provide an understanding of
changes in the Village's financial position and operations. However, com-
parative (i.e., presentation of prior year totals by fund type) data have
not been presented in each of the statements since their inclusion would
make the statements unduly complex and difficult to read.
Total Columns on General Purpose Financial Statements - Overview
Total columns on the General Purpose Financial Statements - Overview are
captioned "Memorandum Only" to indicate that they are presented only to
facilitate financial analysis. Data in these columns do not present
financial position, results of operations, or changes in financial position
in conformity with generally accepted accounting principles. Neither is
such data comparable to a consolidation. Interfund eliminations have not
been made in the aggregation of this data.
Budgetary Data
The Village operates under the Budget Act.
Authoritative Sources - Financial Reporting
The financial statements are presented in accordance with generally
accepted accounting principles applicable to state and local governmental
units. These basic principles have been promulgated by the Governmental
Accounting Standards Board.
The Governmental Accounting Standards Board has issued "GASB Codification
of Governmental Accounting and Reporting Standards" which provides authori-
tative guidance to state and local governmental entities, and has issued
subsequent authoritative pronouncements.
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VILLAGE OF GLENVIEW, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1987
17
2. Stewardship, Compliance, and Accountability
A. Deficit Fund Balances/P~tained Earnings of Individual Funds
The following funds had a deficit in fund balance at December 31:
Fund
Amount
Special Service Area No. 1 of 1980
Special Service Area No. 5 of 1985
$ (3,941)
(4,942)
B. Excess of Actual Expenditures/Expenses over Budget in Individual Funds
The following funds had an excess of actual expenditures/expenses (ex-
clusive of depreciation and amortization) over budget for the year ended
December 31:
Fund
Illinois Municipal Retirement
Library Bond Series 1984
Special Service Area No. 4 of 1982
Waterworks - West
Police Pension
Firemen's Pension
$(46,470)
(400)
(20)
(65,233)
(20,408)
(33,649)
3. Detail Notes on All Funds and Account Groups
A. Assets
1. Cash and Investments
The Village adopted a cash control and investment policy in February of
1983. This policy specifies what financial instruments and institu-
tions the Village will use for investment of idle funds. The policy is
consistent with current state law. As of the date of this report all
of the Village's investments were in accordance with this policy.
The Village maintains a cash and investment pool that is available for
use by all funds, except the pension trust funds. Each fund type's
portion of this pool is displayed on the combined balance sheet as
"cash and investments". In addition, investments are separately held
by several of.the Village's funds. The deposits and investments of the
pension trust funds are held separately from those of other funds.
Cash on hand has been excluded from the amounts shown below.
VILLAGE OF GLENVIEW, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1987
3. Detail Notes on Ail Funds and Account Groups
A. Assets
1. Cash and Investments (Cont.)
18
Permitted Deposits and Investments - Statutes authorize the Village to
make deposits/invest in co~mmercial banks, savings and loan institu-
tions, obligations of the U.S. Treasury and U.S. Agencies, obligations
of States and their political subdivisions, credit union shares,
repurchase agreements, cou~ercial paper rated within the three highest
classifications by at least two standard rating services, and the
Illinois Public Treasurer's Investment Pool. Pension funds may also
invest in certain non-U.S, obligations, mortgages, veteran's loans, and
life insurance company contracts.
The Village has adopted an investment policy in conformity with state
statutes. The policy sets forth the type of investments the Village
will hold and defines specific collateral requirements. As of December
31, 1987 all investments were in conformity with the Investment Policy.
Deposits
At year-end the carrying amount of the Village's deposits totaled
$13,908,830, and the bank balances totaled $14,775,190.
Bank
Balances
$14,765,262
Category 1
Deposits covered by federal depository
insurance, or by collateral held by the
Village, or its agent, in the Village's
name.
Category 2
Deposits covered by collateral held by
the pledging financial institation's
trust department, or by its agent, in
the Village's name.
9,928
$14,775,190
Category 3
Deposits covered by collateral held by
the pledging financial institution, or
its trust department, or its agent bat
not in the Village's name, and deposits
which are uninsured and uncollateralized.
Total Deposits
The pension trust funds own approximately 20 percent of the deposits.
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NOIES TO 1}~ FI/~NCIAL ~
~1 31, 1987
19
3. Detail Notes on Ail Funds and ~coont Groups (Cont.)
A. Assets ((bnt.)
1. Cash and Investments ((]ont.)
Deposits (Cont.)
For pension trust funds the types of deposits authorized and the mix of credit risk
categories do not differ significantly frcm the other funds of the Village.
Inves~m%t s
~he Village's investments are categorized to give an indication of the level of risk
assumed by the entity at year-end. Category 1 includes investments that are insured or
registered or for ~hich the securities are held by the Village or its agent in the
Village's nane. Category 2 includes ~insured and ~x~registered investmeats for ~hich the
securities are held by the broker's or dealer's trust depar~neat or ageat in the Village's
nane. Category 3 includes aninsured and umregistered investments for ~hich the securities
are held by the broker or dealer, or by its trust department or agent but not in the
Village's nanm and uninsured, unregistered ~ ancollateralized investments.
U.S. Govermn~t
Securities
Carrying knoont
Category Mar~t
I 2 3 Total Value
$ 9,469,931 $ 9,469,931 $10,519,000
~ortgages
1,864,845 1,864,845 1,892,000
$11,334,776 - - $11,334,776 12,411,000
Assets H~ld by Agents for
Deferred Compensation Plan
2,806,643
$15,217,643
pension trust funds o~n 100 percent of the investmmnts.
VILLAGE OF GLENVIEW, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1987
22
3. Detail Notes on Ail Funds and Account Groups (Cont.)
B. Liabilities (Cont.)
1. Retirement Fund Commitments (Cont.)
a. Plan Descriptions (Cont.)
Police Pension (Cont.)
by the Police Pension Plan for the year ended December 31, 1987 was
$1,930,511 out of a total payroll of $2,570,790. At December 31,
1987 the Police Pension Plan membership consisted of:
Retirees and Beneficiaries Currently
Receiving Benefits and Terminated
Employees Entitled to Benefits but
not yet Receiving Them
22
Current Employees
Vested ]
Nonvested ] 55
Total 77
The Police Pension Plan provides retirement benefits as well as
death and disability benefits. Employees attaining the age of 50
or more with 20 or more years of creditable service are entitled to
receive an annual retirement benefit of one-half of the salary
attached to the rank held on the last day of service, or for one
year prior to the last day, whichever is greater. The pension
shall be increased by 2% of such salary for each additional year of
service over 20 years up to 30 years, and 1% of such salary for
each additional year of service over 30 years, to a maximum of 75%
of such salary. Employees with at least 8 years but less than 20
years of credited service may retire at or after age 60 and receive
a reduced benefit.
The monthly pension of a police officer who retired with 20 or more
years of service after January 1, 1977 shall be increased annually,
following the first anniversary date of retirement and be paid upon
reaching ~the age of at least 55 years, by 3% of the original
pension and 3% simple interest annually thereafter.
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23
VILLAGE OF GLENVIEW, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1987
3. Detail Notes on Ail Funds and Account Groups (Cont.)
B. Liabilities (Cont.)
1. Retirement Fund Commitments (Cont.)
a. Plan Descriptions (Cont.)
Police Pension (Cont.)
Covered employees are required to contribute 9% of their base
salary to the Police Pension Plan. If an employee leaves covered
employment with less than 20 years of service, accumulated employee
contributions may be refunded without accumulated interest. The
Village is required to contribute the remaining amounts necessary
to finance the plan as actuarially determined by an enrolled
actuary. By the year 2020 the Village's contributions must
accumulate to the point where the past service cost for the Police
Pension Plan is fully funded.
Firemen's Pension
Fire sworn personnel are covered by the Firemen's Pension Plan
which is a defined benefit single-employer pension plan. Although
this is a single-employer pension plan, the defined benefits as
well as the employee and employer contributions levels are mandated
by Illinois State Statutes (Chapter 108 1/2 - Pensions - Article 4)
and may be amended only by the Illinois legislature. The Village
accounts for the plan as a pension trust fund. The Village's
payroll for employees covered by the Firemen's Pension Plan for the
year ended December 31, 1987 was $1,352,775 out of a total payroll
of $1,619,807. At December 31, 1987 the Firemen's Pension Plan
membership consisted of:
Retirees and Beneficiaries Currently
Receiving Benefits and Terminated
Employees Entitled to Benefits but
not yet Receiving Them
4
Current Employees
Vested ]
Nonvested ] 40
Total 44
VILLAGE OF GLENVIEW, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1987
3. Detail Notes on Ail Funds and Account Groups (Cont.)
B. Liabilities (Cont.)
1. Retirement Fund Commitments (Cont.)
a. Plan Descriptions (Cont.)
Firemen's Pension (Cont.)
24
The Firemen's Pension Plan provides retirement benefits as well as
death and disability benefits. Employees attaining the age of 50
or more with 20 or more years of creditable service are entitled to
receive a monthly retirement benefit of one-half of the monthly
salary attached to the rank held in the fire service at the date of
retirement. The monthly pension shall be increased by one-twelfth
of 2% of such monthly salary for each additional month over 20
years of service through 30 years of service and one-twelfth of 1%
of such monthly service for each additional month over 30 years of
service, to a maximum of 75% of such monthly salary. Employees
with at least 10 years but less than 20 years of credited service
may retire at or after age 60 and receive a reduced retirement
benefit. The monthly pension of a firefighter who retired with 20
or more years of service after January 1, 1977 shall be increased
annually, following the first anniversary date of retirement and
paid upon reaching at least the age 55, by 3% of the original
pension and 3% annually thereafter.
Covered employees are required to contribute 8 1/4% of their salary
to the Firemen's Pension Plan. If an employee leaves covered
employment with less than 20 years of service, accumulated employee
contributions may be refunded without interest. The Village is
required to contribute the remaining amounts (not less than 9 1/4%)
necessary to finance the plan as actuarially determined by an
enrolled actuary. By the year 2020 the Village's contributions
must accumulate to the point where the past service cost for the
Firemen's Pension Plan is fully funded.
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VILLAGE OF GLENVIEW, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1987
3. Detail Notes on Ail Funds and Account Groups (Cont.)
B. Liabilities (Cont.)
Retirement Fund Cormitments (Cont.)
b. Summary of Significant Accounting Policies and Plan Asset Matters
Basis of Accounting
The financial statements are prepared using the accrual basis of
accounting. Employee and employer contributions are recognized as
revenues in the period in which employee services are performed.
Method Used to Value Investments
Fixed-income securities are reported at amortized cost with
discounts or premiums amortized using the effective interest rate
method, subject to adjustment for market declines judged to be
other than temporary (lower of cost or market). Investment income
is recognized as earned. Gains and losses on sales and exchanges
of fixed-income securities are recognized on the transaction date.
Equity securities are reported at cost subject to adjustment for
market declines judged to be other than temporary (lower of cost or
market).
c. Funding Status and Progress
The amount shown below as the "pension benefit obligation" for the
IMRF Plan is a standardized disclosure measure of the present value
of pension benefits, adjusted for the effects of projected salary
increases and step-rate benefits, estimated to be payable in the
future as a result of employee service to date. The measure is
intended to help users assess the funding status of the system on a
going-concern basis, assess progress made in accumulating
sufficient assets to pay benefits when due, and make comparisons
among employers. The measure is the actuarial present value of
credited projected benefits and is independent of the funding
method used to determine contributions to the System.
The amount shown below as the "pension benefit obligation" for the
Police Pension Plan and the Firemen's Pension Plan is a substitute
disclosure measure (entry age normal) of the present value of
pension benefits, adjusted for the effects of projected salary
increases and step-rate benefits, estimated to be payable in the
26
VILLAGE OF GLENVIEW, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1987
3. Detail Notes on Ail Funds and Account Groups (Cont.)
B. Liabilities (Cont.)
1. Retirement Fund Commitments (Cont.)
c. Funding Status and Progress (Cont.)
future as a result of employee service to date. This substitute
disclosure measure is intended to help users assess the funding
status of the system on a going-concern basis, assess progress made
in accumulating sufficient assets to pay benefits when due, and
make comparisons among other employers using the substitute dis-
closure method. The substitute disclosure measure is independent
of the funding method used to determine contributions to the
System.
Illinois
Municipal Police Firemen's
Retirement Pension Pension
Actuarial Valuation Date
December 31, January 1, January 1,
1987 1987 1987
Significant Actuarial
Assumptions
a)
Rate of Return on Invest-
ment of Present and
Future Assets
7.00% 7.00% 7.00%
compounded compounded compounded
annually annually annually
b)
c)
Projected Salary
Increases - Attributable
to Inflation
Additional Projected
Salary Increases -
Attributable to
Seniority/Merit
3.75%
compounded
annually
1.00%
5.50% 5.50%
compounded compounded
annually annually
(Note - separate information
for b) and c) not available)
d)
Postretirement Benefit
Increases
3.00%
3.00% 3.00%
simple interest compounded
annually annually
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VILLAGE OF GLENVIEW, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1987
27
3. Detail Notes on Ail Funds and Account Groups (Cont.)
B. Liabilities (Cont.)
1. Retirement Fund Cormnitments (Cont.)
c. Funding Status and Progress (Cont.)
Pension Benefit Obligation
Retirees and Beneficiaries
Currently Receiving
Benefits and Terminated
Employees not yet
Receiving Benefits
Current Employees
Accumulated Employee
Contributions
Including Allocated
Investment Earnings
Employer - Financed Vested
Employer - Financed
Nonvested
Illinois
Municipal Police Firemen's
Retirement Pension Pension
(Note A)
$ 197,116 N/A N/A N/A
1,301,120
2,632,117 ]
] N/A N/A
504,881 ] (Note B) (Note B)
Totals
N/A
Total Pension
Benefit Obligation
4,635,234 $9,893,322
$6,057,751
$20,586,307
Net Assets Available for
Benefits, at Lower of
Cost or Market
(Market Values)
(IMRF - $ 2,930,393)
(Police 7,510,757)
(Firemen%s - 6,477,572)
2,930,393 6,939,963 5,825,693 15,696,049
(Totals $16,918,722)
Unfunded (Assets in Excess of)
Pension Benefit Obligation
$1,704,841 $2,953,359 $ 232,058 $ 4,890,258
(Note A)
The pension benefit obligation applicable to retirees and beneficiaries
currently receiving benefits is not included in the above schedule due
to the fact that this obligation was transferred from the Village to
IMRF as a whole when the annuity became payable.
(Note B) Separate information not available.
28
VILLAGE OF GLENVIEW, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1987
3. Detail Notes on Ail Funds and Account Groups (Cont.)
B. Liabilities (Cont.)
1. Retirement Fund Commitments (Cont.)
c. Funding Status and Progress (Cont.)
Effects on the Pension Benefit Obligation of Current-Year Changes
Illinois Municipal Retirement
Current-year changes in the actuarial assumptions, benefit
provisions, and methodology are reflected in the December 31, 1987
pension benefit obligation shown above. This amount has been
calculated by the IMRF Actuary using the measure described above.
The dollar effect of these changes on the pension benefit
obligation was not economically determinable on an individual
employer basis by IMRF. Since the December 31, 1987 valuation was
the first time this measure was used, comparison with a previous
year's pension benefit obligation is not available.
d. Actuarially Determined Contribution Requirements and
Contribution Made
Illinois Municipal Retirement, Police Pension, and Firemen's
Pension
The Systems' funding policy provides for actuarlally determined
periodic contributions at rates that, for individual employees,
accumulate assets gradually over time so that sufficient assets
will be available to pay benefits when due. The rate for the
Village's employee group as a whole has tended to remain level as a
percentage of annual covered payroll. The contribution rate for
normal cost is determined using the entry age normal actuarial
funding method. The Systems used the level percentage of payroll
method to amortize the unfunded liability over a 40 year period.
The significant actuarial assumptions used to compute the
actuarially determined contribution requirements are the same as
those used to compute the pension benefit obligation as described
in c. above.
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VILLAGE OF GLENVIEW, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1987
3. Detail Notes on All Funds and Account Groups (Cont.)
B. Liabilities (Cont.)
1. Retirement Fund Commitments (Cont.)
d. Actuarially Determined Contribution Requirements and
Contribution Made (Cont.)
Illinois
Municipal Police Firemen's
Retirement Pension Pension
Totals
Actuarial Valuation Date
December 31, January 1, January 1,
1985 1987 1987
Actuarially Determined Contribution
Requirement - Employer
As a Dollar Amount
Normal Cost $ 96,713
Amortization of Unfunded
Actuarial Accrued Liability 138,215
Death and Disability Cost 24,456
$221,684 $221,892 $ 540,289
219,427 17,241 374,883
24,456
$259,384
As a % of Current Covered Payroll
Normal Cost
Amortization of Unfunded 2.61%
Actuarial Accrued Liability 3.73
Death and Disability Cost .66
$441,111 $239,133 $ 939,628
12.38% 17.33%
12.25 1.34
7.00% 24.63% 18.67%
Contribution Made
As a Dollar Amount
Employer
Employee
$259,384 $474,199 $290,435 $1,024,018
166,751 173,746 111,604 452,101
$426,135 $647,945 $402,039 $1,476,119
As a % of Current Covered Payroll
Employer
Employee
7.0% 26.49% 18.67%
4.5 9.70 8.70
11.5% 36.19% 27.37%
V~]AGE OF GL~NVIEW, ILLINOIS
~ 31, 1987
3O
3. Detail Netes on Ail Funds and ~cotmt Groups (Cont.)
B. Liabilities (cont.)
1. Netir~nt Fund Commitments (Cont.)
d. ~tuarially Determined Contribution Ne~air~te and Contribution Mmde (Oont.)
Effects on thru Contribution Bequir~e~ts of Current-Year Oamges
Illinois Municipal Petir~m~nt
Current-y~ar changes in the actuarial assumptions, benefit provisions, m~J methodology,
explained below, will be incorporated in the 1989 employer contribution rate. ~hese
changes are estimated to increase the 1989 rate by approximately 2.04 percent of
payroll over the 1988 rate. Separate dollar effects of each change were not
economically determinable on ~ individual employer basis by 1MRF.
Police Pension and Fir~nen's Pension
There were en changes for fiscal 1987.
e. Trend Information
Trend infornmtion gives m~ indication of the progress m~de in accu~alating sufficient
assets to pay benefits when due. ~k~a-year trend information may be found in the
supplesental section of the Village's m~nual financial report.
Net Assets ~Nailable for Bensfits
As a % of the Pension Benefit
(~oligation (PBO)
Illinois
Municipal Police Firmen' s
Year P~tirement Pension Pension Totals
1987 65.57%. 70.15% 96.18%
Unfu~ed (Assets in Excess of) PBO
As a % of k~ual Covered Payroll
(~essin~ the unfunded pension
benefit obligation as a pereent-
age of ammual covered payroll
approximately adjusts for the
effects of inflation for
analysis purposes)
19B7 43.06% 65.03%
Employer Contribetions
As a % of kmual Covered
Payroll
1987 7.00% 26.49% 18.67%
t~qulred 1987 $259,384 $441,111 $239,133 $ 939,628
Made 1987 $259,384 $474,199 $2~0,435 $1,024,018
(During the impl~ntation transition period all information required is presented for as m~y
years as is available.)
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VILLAGE OF GLENVIEW, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1987
31
3. Detail Notes on Ail Funds and Account Groups (Cont.)
B. Liabilities (Cont.)
1. Retirement Fund Commitments (Cont.)
f. Deferred Compensation Plan Fund
The Village offers its employees a deferred compensation plan
created in accordance with Internal Revenue Code Section 457. The
plan, available to certain Village employees, permits them to defer
a portion of their salary until future years. The deferred
compensation is not available to employees until termination,
retirement, death, or unforeseeable emergency.
Ail amounts of compensation deferred under the plan, all property
and rights purchased with those amounts, and all income attribut-
able to those amounts, property, or rights are (until paid or made
available to the employee or other beneficiary) solely the property
and rights of the Village (without being restricted to the
provisions of benefits under the plan), subject only to the claims
of the Village's general creditors. Participants' rights under the
plan are equal to those of general creditors of the Village in an
amount equal to the fair market value of the deferred account for
each participant.
It is the opinion of the Village's legal counsel that the Village
has no liability for losses under the plan but does have the duty
of due care that would be required of an ordinary prudent investor.
The Village believes that it is unlikely that it will use the
assets to satisfy the claims of general creditors in the future.
32
~ OF Glf14%q_M~, ILLINOIS
NOTES %0 ~ FINANCIAL STAS~VMNSM
BEC~fl~R 31, 1987
3. Detail Notes on Ail Funds and Accoumt Groups (Cont.)
B. Liabilities (Cont.)
2. I~ng-Term Debt
a. Om~nges in Long-Term Debt
Fund Debt Balances Balances
Retired By January 1 Issuances Retirements December 31
C{oeral Cbligation ~onds
Police Administration Building
Bund Series of 1972
D~nicipal Building
Bund Series of 1979
Library Band Series of 1984
Library Bond Series of 1985
Debt Service $ 325,000 $125,000 $ 200,000
Debt Service 500,000 100,000 400,000
Debt Service 2,900,000 200,000 2,700,000
Debt Service 100,000 50,000 50,000
$3,825,000 - $475,000 $3,350,000
$ 28,000 $ 7,000 $ 21,000
29,123 2,098 27,025
19,161 1,380 17,781
70,730 7,640 63,090
47,233 1,643 45,590
$ 194,247 $ 19,761 $ 174,486
Special Service Area #1 Bund Series of 1980
#2 Band Series of 1981
#3 Bund Series of 1982
#4 Bund Series of 1982
#5 Bond Series of 1985
Debt Service
Debt Service
Debt Service
Debt Service
Debt Service
Ceneral Ooligation ]beds
Gorporate Purpose Boed
Series of 1977
Corporate Purpose Band
Series of 1979
Corporate Purpose Bund
Series of 1987
Wes t $3,150,000 $225,000 $2,925,000
Water~rks -
WeS t 4,450,000 225,000 4,225,000
Weter;~rks -
East and West $300,000 26,200 273,800
$7,600,0~0 $300,000 $476,200 $7,423,800
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VILLAGE OF GLENVIEW, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1987
Detail Notes on Ail Funds and Account Groups (Cont.)
B. Liabilities (Cont.)
2. Long-Term Debt (Cont.)
b. Debt Service Requirements to Maturity
ANNUAL PRINCIPAL AND INTEREST REQUIREMENTS
General
Obligation
Fiscal Year General Special Bonds Carried
Ending Obligation Service as Enterprise
December 31 Bonds Area Bonds Fund Liabilities
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
$ 761 362
775.875
639 500
457 600
433 125
408 100
382 662
356 538
329 725
302 500
$4,846,987
$ 35,396
34,976
34,554
27,345
27,344
27,345
13,508
13,507
9,753
5,998
5,998
5,998
5,998
2,998
$250,718
$ 968 388
989 062
956 436
975623
932~248
887.250
876125
888.025
897.025
902.725
505 500
503 500
$10,281,907
Total
$ 1,765,146
1,799,913
1,630,490
1,460,568
1,392,717
1,322,695
1,272 295
1,258 070
1,236 503
1,211 223
511 498
509 498
5 998
2 998
$15,379,612
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VILLAGE OF GLENVIEW, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1987
34
3. Detail Notes on All Funds and Account Groups (Cont.)
B. Liabilities (Cont.)
2. Long-Term Debt (Cont.)
c. Legal Debt Margin
The Village is a home rule municipality.
Article VII, Section 6(k) of the 1970 Illinois Constitution governs
computation of the legal debt margin.
"The General Assembly may limit by law the amount and
require referendum approval of debt to be incurred by
home rule municipalities, payable from ad valorem
property tax receipts, only in excess of the following
percentages of the assessed value of its taxable property
...(2) if its population is more than 25,000 and less than
500,000 an aggregate of one percent: ...indebtedness which
is outstanding on the effective date (July 1, 1971) of
this constitution or which is thereafter approved by
referendum.., shall not be included in the foregoing
percentage amounts."
To date the General Assembly has set no limits for home rule
municipalities.
d. In-Substance Defeasance of Bonds
Waterworks - East Fund
In fiscal year ended December 31, 1984, $240,000 from the Water
Fund East Bond P~serve Account was used for the purpose of
defeasing the Waterworks and Sewerage Revenue Bond issue of 1964.
Funds 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 the Exchange National Bank of Chicago, Illinois.
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VILLAGE OF GLENVIEW, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1987
3. Detail Notes on Ail Funds and Account Groups (Cont.)
B. Liabilities (Cont.)
2. Long-Term Debt (Cont.)
d. Defeasance of Bonds (Cont.)
Waterworks - East Fund (Cont.)
The funds have been invested in direct U.S. Treasury
obligations with maturities that approximate the Debt Service
Requirements of the original issue.
U.S. Government securities in the amount of $205,000 at various
interest rates and dates of maturity ranging from 4/30/85 to
3/31/88 have been purchased for the escrow.
3. The proceeds in escrow are not subject to lien for any purpose
other than in connection with the defeasance transaction.
Since the requirements which 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 satisfy future Debt Service Requirements
of the Issue.
Schedule of Future Requirements - Waterworks and Sewerage Revenue
Bond Issue to be paid from Escrow:
Year Bond Number
Principal
$60,000
1988 209-220
VILLAGE OF GLENVIEW, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1987
Detail Notes on Ail Fonds and Account Groups (Cont.)
C. Interfund Receivables and Payables
General
Corporate Library
Illinois Municipal Retirement
Cable TV
Debt Service
Capital Equipment Replacement
Capital Projects
Waterworks - East
Waterworks - West
Escrow
Police Pension
Firemen's Pension
Total General
Special Revenue
Library
Corporate
Capital Projects
Illinois Municipal Retirement
Corporate
Cable TV
Corporate
Capital Projects
Total Special Revenue
Debt Service
Debt Service
Corporate
Waterworks - East
Waterworks - West
Sewerage
Total Debt Service
Due Due
From To
$ 21,071
17,292
51,677
22,569
$ 5O,OOO
36,428
35,535
165,594
279,660
33,942
19,946
531,682 202,032
21,071
14,000
35,071
17,292
51,677
13,500
65,177
117,540
22,569
27,893
66,158
51,107
22,569 145,158
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VILLAGE OF GLENVIEW, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1987
Detail Notes on Ail Funds and Account Groups (Cont.)
C. Interfund Receivables and Payables (Cont.)
Capital Projects
Capital Equipment Replacement
Corporate
Waterworks - East
Capital Projects
Corporate
Library
Cable TV
Waterworks - East
Waterworks - West
Total Capital Projects
Enterprise
Waterworks - East
Corporate
Debt Service
Capital Equipment Replacement
Capital Projects
Waterworks - West
Escrow
Waterworks - West
Corporate
Debt Service
Capital Projects
Waterworks - East
Sewerage
Debt Service
Total Enterprise
Due
From
$ 19,201
19,201
19,201
35,535
27,893
180,000
150,000
393,428
66,158
120,000
186,158
51,107
630,693
Due
$ 50,000
50,000
36,428
14,000
13,500
180,000
120,000
363,928
413,928
19,201
150,000
169,201
165,594
150,000
315,594
484,795
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VILLAGE OF GLENVIEW, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1987
Detail Notes on Ail Funds and Account Groups (Cont.)
C. Interfund Receivables and Payables (Cont.)
Trust and Agency
Escrow
Corporate
Waterworks - East
Police Pension
Corporate
Firemen's Pension
Corporate
Total Trust and Agency
Due Due
From To
$ 279,660
$ 150,000
150,000 279,660
33,942
19,946
203,888 279,660
$1,525,573 $1,525,573
Do
Fund Equity
1.
Reservation of Fund Balance
Reserves are used to segregate portions of fund
either legally restricted for specific purposes
spendable resources".
2. Unreserved Fund Equity - Designated
Designations represent
to indicate tentative
future period.
38
3. Prior Period Adjustments
balances which are
or not "available
portions of Unreserved Fund Balance
plans for financial resource
segregated
utilization in a
$ 89,850
$(89,850)
Capital Projects Funds
Capital Projects
To correct prior years transfers
Enterprise Funds
Waterworks Fund - East
To correct prior years transfers
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NO~S TO ~ME FIItANCIAL STATE~I~S
DE~ER 31, 1987
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4. Se~nent Information for Certain Individual Enterprise Funds
~he Village maintains four Fmterprise Funds, which provide ~ter~orks, sewerage, and parking
services. Segment information for the >~ar ended Dec~nher 31 is as follows:
Waterworks Waterworks Parking
- East - West Sewerage Lot Totals
Operating Rmvemtms
$2,116,411 $ 2,533,231 $ 579,878 $ 75,008 $ 5,304,528
Depreciation, Depletion, and
Anor tization Expense
82,673 228,579 31,958 1,630 344,840
Operating Incc~m 426,582 994,590 370,371 9,964 1,801,507
Operating Rants, Entitle-
merits, and ~ared Rmvenoes
Operating Transfers
In 48,445 80,000 - 128,445
Out (38,080) (130,852) (263,000) - (431,932)
Net Incom~ 448,560 603,813 110,787 23,712 1,186,872
6hrrent Capital Contributions
and Transfers
Contributions
Transfers
Plant, Property andEquitm~nt
Additions 168,602 9,974 5,784 1,630 185,990
Deletions 92,890 24,335 - - 117,225
Transfers In (~ut) ....
Total Assets~ 3,748,361 10,125,957 1,855,176 402,654 16,132,148
Net Working Capital
711,584 1,013,953 480,112 398,934 2,604,583
Bonds and Other Long-Tern
Liabilities
Payable frc~ Operating
P~venues
Payable from Other Seurce
164,280 7,259,520 - 7,423,800
Total Equity
2,922,738 2,491,461 1,853,828 402,654 7,670,681
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VILLAGE OF GLENVIEW, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1987
5. R~lated Entities - Joint Ventures
A. Intergovernmental Personnel Benefit Cooperative (IPBC)
1. Description of Joint Venture
The Intergovernmental Personnel Benefit Cooperative is a governmental
joint venture established by certain units of local government in
Illinois to administer some or all of the personnel benefit programs
offered by the members to their officers and employees and to the
officers and employees of certain other governmental, quasi-
governmental, and nonprofit public service entities. The Cooperative
acts solely as an administrative agency to receive, process, and pay
snch claims as may come within the benefit program of each member. The
Cooperative utilizes "agency fund accounting".
Management consists of a Board of Directors comprised of one
representative from each member. In addition, there are two officers,
a Benefit Administrator and a Treasurer.
The Village does not exercise any control over the activities of the
Cooperative beyond its representation on the Board of Directors.
2. Summary Financial Information of Joint Venture
The latest available financial statements of the Cooperative, dated
June 30, 1987, show the following:
Total Assets $3,524,366
Total Liabilities - Current $1,228,262
- Long-Term 2,296,104
$3,524,366
6. Significant Contingencies
A. Litigation
There are no pending lawsuits in which the Village is involved. The
Village Attorney estimated that the potential claims against the Village
not covered by insurance resulting from any litigation would not materially
affect the financial statements of the Village.
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VILLAGE OF GLENVIEW, ILLINOIS
NOTES TO THE FINANCIA3~ STATEMENTS
DECEMBER 31, 1987
41
Insurance
The Village participates in the Intergovernmental Personnel Benefit Cooperative
(IPBC). IPBC is a governmental joint venture established by certain units of
local government in Illinois to administer some or all of the personnel benefit
programs (primarily medical, dental, and life insurance coverage) offered by
these members to their officers and employees and to the officers and employees
of certain other governmental, quasigovernmental, and nonprofit public service
entities. IPBC pays each member's claims and purchases excess risk coverage.
While IPBC does have some "pooling" attributes, it is essentially a
"cooperative" in that each member maintains a positive or negative account
balance. Thus the Village has reflected its "balance" with IPBC on its
financial statements. The Village's payments to IPBC are displayed on the
financial statements as expenditures/expenses in appropriate funds.
Fund Description
General Fund
The General Fund, also referred to as the Corporate Fund,
resources traditionally associated with governmental
accounted for in another fund.
is used to account for
services not required to be
VILLAGE OF GLENVIEW, ILLINOIS
CORPORATE FUND
BALANCE SHEET
DECEMBER 31, 1987
ASSETS
Cash and Investments
Receivables
Taxes
Property Taxes
Sales Tax
Income Tax
Utility
Replacement Taxes
Accounts
Other
Due from Other Funds
Total Assets
LIABILITIES AND FUND BALANCE
Liabilities
Accounts Payable
Compensated Absences Payable
Due to Other Funds
Deferred Revenues
Total Liabilities
Fund Balance
Unreserved
Designated - Improvements
Designated - Senior Citizen Housing
Undesignated
Total Fund Balance
Total Liabilities and Fund Balance
See accompanying Notes to the Financial Statements.
1987
$2,069,241
1,447,885
768,851
136,391
172,143
11,759
30,870
31,920
531,682
$5,200,742
$ 81,108
187,680
202,033
1,447,885
1,918,706
25,729
373,600
2,882,707
3,282,036
$5,200,742
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1986
$1,639,605
1,352,699
700,624
124,750
181,150
9,778
26,338
51,667
24,234
$4,110,845
$ 29,572
164,815
110,027
1,352,699
1,657,113
25,729
373,600
2,054,403
..2,453,732
~4,110,845
43
VILLAGE OF GLENVIEW, ILLINOIS
CORPORATE FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED DECEMBER 31, 1987
Revenues Taxes
Licenses and Permits
Intergovernmental
Charges for Services
Fines and Forfeits
Miscellaneous
Total Revenues
Expenditures
General Government
Public Safety
Highways and Streets
Total Expenditures
Excess of Revenues over Expenditures
before Other Financing Sources (Uses)
Other Financing Sources (Uses)
Operating Transfers In (Out)
Debt Service Fund
Public Works Garage Fund
Capital Projects Fund
Escrow Deposit Fund
Excess of Revenues and Other Sources
over Expenditures and Other Uses
Fund Balance_
January 1
Prior Period Adjustment
Adjusted Balance
December 31
1987
Budget Actual
1986
Actual
$ 7,737,169 $ 7,909,796 $7,089,667
1,053,325 1,231,324 1,099,350
112,500 61,423 36,987
705,269 773,509 594,979
280,000 266,382 278,829
166,420 243,566 693,717
10,054,683 10,486,000 9,793,529
2,212,183 2,448,340 2,057,944
5,203,592 5,013,039 4,592,067
2,290,441 2,193,805 1,952,831
9,706,216 9,655,184 8,602,842
348,467 830,816 1,190,687
(1,680) (1,680) (2,100)
(121,230)
(136,770) (256,258) (91,000)
200,000 255,426 149,329
(59,680) (2,512) 56,229
$ 288,787 828,304 1,246,916
2,453,732 1,181,087
25,729
2,453,732 1,206,816
$ 3,282,036 $2,453,732
See accompanying Notes to the Financial Statements.
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VILLAGE OF GLENVIEW, ILLINOIS
CORPORATE FUND
SCHEDULE OF REVENUES - BUDGET AND ACTUAL
FOR THE YEAR ENDED DECEMBER 31, 1987
Property Taxes - Current
Property Taxes - Prior
Replacement Taxes
Sales Tax
Utility Tax
Illinois Income Tax
Road and Bridge
Franchise Taxes
Road and Bridge - Prior
Licenses and Permits
Motor Vehicle
Business
Liquor
Dog
Cat
Heating and Air Conditioning
Buildings
Electrical Inspection
Plumbing and Sewer
Plan Review and Elevator Inspection
Driveway Permits
Intergovernmental
Charges for Services
Administration
Engineering Fees
Unclassified Public Works Service
Other Current Service Charges
Fines and Forfeits
1987 1986
Budget Actual Actual
$1,434,402 $1,392,794 $1,054,605
6,232 21,132
30,442 66,373 42,842
2,847,000 3,178,578 2,815,209
2,290,150 2,119,255 2,066,996
846,680 900,124 804,896
86,400 57,763 77,957
202,095 188,148 204,096
529 1,934
7,737,169 7,909,796 7,089,667
418,000 399,155 395,889
97,000 81,792 77,877
62,000 58,093 52,194
4,000 5,283 4,007
325 3 441
800 1,225 945
380,000 536,928 409,226
29,600 55,080 46,534
20,000 34,576 33,451
38,600 52,839 72,286
3,000 6,350 6,500
1,053,325 1,231,324 1,099,350
112,500 61,423 36,987
623,269 623,269 513,965
30,000 99,233 27,327
32,000 19,980 28,105
20,000 31,027 25,582
705,269 773,509 594,979
280,000 266,382 278,829
44
VILLAGE OF GLENVIEW, ILLINOIS
CORPORATE FUND
SCHEDULE OF REVENUES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED DECEMBER 31, 1987
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Miscellaneous
Interest
Insurance Refunds
Damage to Village Property
Public Benefit Fee
Sale of Village Property
Other
Total Revenues
1987 1986
Budget Actual Actual
42,420
44,000
5,000
$ $ 115,442 $ 70,705
37,919 42,360
5,602 6,397
110,000
434,176
75,000 84,603 30,079
166,420 243,566 693,717
$10,054,683 $10,486,000 $9,793,529
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VILLAGE OF GLENVIEW, ILLINOIS
CORPORATE FUND
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL
FOR THE YEAR ENDED DECEMBER 31, 1987
General Government
Board of Trustees
Special Board
Village Clerk
Legal
Emergency Service Disaster Agency
Village Manager
Finance
Municipal Building and Grounds
Personnel
Public Safety
Police Department
Fire Department
Printing
Highways and Streets
Development and Public Services
Administration
Planning and Zoning
Engineering
Public Works - Administration
Public Works - Overhead
Public Works - Street Maintenance
Public Works - Traffic
Public Works - Storm Water Management
Public Works - Snow and Ice Control
Public Works - Forestry
Public Works - Grounds
Building Inspection
Public Health
Budget Actual
$ 10,136
63,620
11,271
488,705
45,810
308,650
401,429
138,460
744,102
$ 219 191
62 634
11 553
553 777
70 949
278 213
383 788
112 627
755 608
$2,212,183 $2,448,340
$3,161,010 $3,064,333
2,016,532 1,927,685
26,050 21,021
$5,203,592 $5,013,039
84,408
63,921
228,876
111,170
590,355
116,614
230,444
84,004
176,029
146,319
72,112
300,141
86,048
$ 78,231
65,744
232,529
107,295
563,223
96,131
218~189
89,160
122 625
179,738
71,738
288,438
80,764
$2,290,441 $2,193,805
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VILLAGE OF GLENVIEW~ ILLINOIS
CORPORATE FUND
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED DECEMBER 31, 1987
General Government
Board of Trustees
Regular Salaries
Contractual Services
Dues, Subscriptions and Memberships
Travel Expense
Materials and Supplies
Other Operational Expense
Special Board
Contractual Services
Materials and Supplies
Other Operational Expenses
Village Clerk
Regular Salaries
Temporary Salaries
Dues, Subscriptions and Memberships
Maintenance of Equipment
Travel Expense
Office Supplies
Legal
Contractual and Professional Services
Insurance and Bonding
Dues, Subscriptions and Memberships
Materials and Supplies
Emergency Service Disaster Agency
Flood Emergency
Power and Light
Telephone and Telegraph
Maintenance of Equipment
Office Supplies
Books, Pamphlets, and Materials
Contingencies
Machinery and Equipment
Budget
$ 3,000
I00
5,286
1,750
10,136
60,240
3,280
100
63,620
900
560
9,661
5O
5O
50
11,271
86,650
399,000
255
2,800
488~705
30,000
1,000
3,310
2,000
2OO
2OO
1,500
7,600
45,810
Actual
$ 3,013
425
25
9,497
2,808
203,423
219,191
59,947
2,687
62,634
963
5OO
9,827
120
143
11,553
91,516
459,784
306
2,171
553,777
59,239
857
3,463
7,390
70~949
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VILLAGE OF GLENVIEW, ILLINOIS
CORPORATE FUND
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED DECEMBER 31, 1987
General Government (Cont.)
Village Manager
Regular Salaries
Temporary Salaries
Longevity Pay
Contractual Professional Services
Printing, Binding and Publication
Postage
Dues, Subscriptions and Memberships
Maintenance of Equipment
Rentals
Travel Expense
Training Expense
Books, Pamphlets and Materials
Equipment Replacement
Equipment Repairs
Machinery and Equipment
Finance
Regular Salaries
Overtime Salaries
Temporary Salaries
Longevity Pay
Contractual Professional Services
Printing, Binding and Publication
Postage
Dues, Subscriptions and Membership
Maintenance of Equipment
Rentals
Travel Expense
Training~
Office Supplies
Books, Pamphlets and Materials
Computer Supplies
Other Operating Expense
Machinery and Equipment
Budget
$237,024
11,682
500
12,000
450
17,000
1,624
270
5OO
5,114
75O
3OO
3,100
6,336
12,000
308,650
256,184
2,900
17,400
2,500
36,400
7,000
5,500
1,750
22,032
22,036
2,167
7OO
16,000
2OO
7,200
200
1,260
401,429
Actual
$210,883
9,233
5OO
13,050
7,153
15,642
1,936
541
1,207
3,920
632
199
3,100
3,219
6,998
278,213
251,507
4,715
16,396
2,442
37,545
3,404
3,281
458
22,082
20,941
2,405
120
11,576
9O
6,394
62
370
383 , 788
48
VILLAGE OF GLENVIEW, ILLINOIS
CORPORATE FUND
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED DECEMBER 31, 1987
General Government (Cont.)
Municipal Building and Grounds
Regular Salaries
Overtime Salaries
Temporary Salaries
Heating and Lighting
Postage
Telephone
biaintenance of Equipment
Maintenance of Buildings
Rentals
Uniform Allowance
Cleaning and Household Supplies
Maintenance Materials - Buildings
Small Tools and Equipment
Employee Welfare
Equipment Replacement
Equipment Repairs
Buildings and Improvements
Personnel
Contractual Professional Services
Printing, Binding and Publications
Dues, Subscriptions and Memberships
Insurance and Bonding
Travel
Training Expense
Books, Pamphlets and Materials
Employee Welfare
Total General Government
Budget
$ 19,504
1,500
7,416
9,800
15,000
22,000
16,290
2,000
9,000
300
3,500
3,550
4OO
2,500
5,300
4OO
20,000
138,460
17,625
3,000
1,150
687,227
5OO
26,700
100
7,800
744,102
$2,212~183
Actual
$ 17,702
5,375
6,572
10,598
23,489
15,953
1,278
8,796
349
2,755
3,144
318
1,801
5,300
196
9,001
112,627
15,968
2,385
1,181
715,044
761
11,622
63
8,584
755,608
$2,448,340
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VILLAGE OF GLENVIEW, ILLINOIS
CORPORATE FUND
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED DECEMBER 31, 1987
Public Safety
Police Department
Regular Salaries
Overtime Salaries
Overtime Court Time
Overtime Training
Overtime Extra Detail
Temporary Salaries
Holiday Pay
Longevity Pay
Contractual Professional Services
Printing, Binding and Publication
Heating
Postage
Telephone
Dues and Subscriptions
Maintenance of Equipment
Maintenance of Buildings
Rentals
Travel Expenses
Car Allowance
Training
Uniform Allowance
Office Supplies
Books, Pamphlets and Materials
Cleaning and Household Supplies
Maintenance Materials - Buildings
Operating Materials and Supplies
Computer Supplies
Employee Welfare
Equipment t~placement
Equipment Repairs
Machinery and Equipment
Building and Improvements
Furniture and Fixtures
Other
Budget
$2,290,860
60,000
48,000
5,200
83,700
93,964
19,450
27,640
3,300
6,500
2,500
26,534
1,600
40,000
2,700
5,25O
2,947
300
36,000
27,250
3,200
5,500
2,000
9,400
18,000
1,500
4,100
114,399
123,764
48,981
25,500
1,750
19,221
3,161,010
Actual
$2,272,121
91,758
44,330
2,145
321
76,166
64,951
18,998
35,298
2,848
3,870
2,878
23,606
1,410
32,097
378
4,813
3,180
26,747
25,927
2,394
6,938
1,617
8,207
19,291
2,106
3,518
114,399
105,875
45,535
1,390
19,221
3,064,333
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VILLAGE OF GLENVIEW, ILLINOIS
CORPORATE FUND
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED DECEMBER 31, 1987
Public Safety (Cont.)
Fire Department
Regular Salaries
Overtime Salaries
Longevity Pay
Contractual Professional Services
Printing and Publications
Heating
Postage
Telephone
Dues, Subscriptions and Memberships
Maintenance of Equipment
Maintenance of Buildings
Rentals
Travel Expense
Training
Uniform Allowances
Office Supplies
Books, Pamphlets and Materials
Motor Vehicle Supplies
Cleaning Supplies
Maintenance Materials - Equipment
Maintenance Materials - Buildings
Small Tools and Equipment
Operating Materials and Supplies
Other Operating Expenses
Equipment Replacement
Equipment Repairs
Machinery and Equipment
Furniture and Fixtures
Automotive
Printing
Overtime Salaries
Printing and Binding
Maintenance of Equipment
Office Supplies
Operating Supplies
Machinery and Equipment
Total Public Safety
Budget
$1,456,273
105,450
18,400
75,732
20O
3,800
400
11,071
819
19,725
6,100
2,361
17,550
11,150
6OO
2,400
2,500
2,600
3,55O
7,200
1,000
15,350
47,646
79,624
44,946
61,585
1,500
17,000
2,016,532
2,500
2,400
3,950
13,000
3,300
9OO
26,050
$5,203,592
Actual
$1,416,398
114,517
18,150
70,742
188
2,637
357
8,852
577
11,337
2,259
364
1,123
5,699
9,350
1,348
2,241
1,069
3,091
5O6
6,035
1,268
21,518
47,646
79,624
30,920
54,054
15,815
1,927,685
722
4,168
2,077
9,497
3,508
1,049
21,021
$5,013,039
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VILLAGE OF GLENVIEW, ILLINOIS
CORPORATE FUND
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED DECEMBER 31, 1987
Highways and Streets
Development and Public Services
Administration
Regular Salaries
Overtime Salaries
Temporary Salaries
Longevity Pay
Contractual and Professional Services
Printing, Binding and Publication
Dues, Subscriptions and Memberships
Maintenance of Equipment
Travel Expense
Training
Materials and Supplies
Equipment Replacement
Equipment Repairs
Planning and Zoning
Regular Salaries
Temporary Salaries
Longevity Pay
Contractual and Professional Services
Printing, Binding and Publication
Dues, Subscriptions and Memberships
Travel Expense
Training
Operational Supplies
Engineering
Regula? Salaries
Overtime Salaries
Temporary Salaries
Longevity Pay
Contractual Professional Services
Printing, Binding and Publications
Dues, Subscriptions and Memberships
Maintenance of Equipment
Microfilming
Travel Expense
Training
Uniform Allowance
Budget
$ 71,908
40O
4,500
500
80O
200
100
150
950
400
900
1,600
2,000
84,408
42,696
2,600
3OO
10,000
3,700
2,725
9OO
600
400
63,921
182,852
1,000
11,380
900
7,000
100
340
675
500
975
1,660
6OO
52
Actual
$ 64,790
29
5,802
25O
1,539
28O
193
1,016
483
622
1,600
1,627
78,231
41,635
2,000
300
11,389
6,741
2,478
243
619
339
65,744
187,760
2,497
15,320
900
5,248
569
157
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541
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VILLAGE OF GLENVIEW, ILLINOIS
CORPORATE FUND
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED DECEMBER 31, 1987
Highways and Streets (Cont.)
Development and Public Services (Cont.)
Engineering (Cont.)
Books, Pamphlets and Materials
Operational Materials
Equipment Replacement
Equipment Repairs
Public Works - Administration
Regular Salaries
Overtime Salaries
Temporary Salaries
Contractual Professional Services
Printing, Binding and Publications
Dues, Subscriptions and Memberships
Maintenance of Equipment
Travel Expense
Training
Office Supplies
Books, Pamphlets and Materials
Computer Supplies
Machinery and Equipment
Public Works - Overhead
Regular Salaries
Overtime Salaries
Temporary Salaries
Longevity Pay
Heat
Telephone
Dues, Subscriptions and Memberships
Maintenance of Equipment
Maintenance of Building Improvements
Rentals
Travel Expense
Training
Uniform Allowance
Office Supplies
Books, Pamphlets and Materials
Cleaning Supplies
Maintenance Materials - Buildings
Budget
$ 100
1,300
9,180
10,314
228,876
93,000
1,500
4,600
400
100
350
2,000
150
1,000
2OO
7O
8OO
7,000
111,170
223,604
220
22,000
7,800
12,000
4,000
40
450
6,450
15,600
200
1,500
5,500
100
2,000
2,700
Actual
$ 10
1,733
9,180
7,219
232,529
92,999
853
3,540
61
368
1,193
119
1,006
114
2
537
6,503
107,295
209,389
1,112
22,230
7,500
7,625
2,101
47
1,131
12,385
18,519
202
841
5,391
54
13
2,883
3,467
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VILLAGE OF GLENVIEW, ILLINOIS
CORPORATE FUND
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED DECEMBER 31, 1987
Highways and Streets (Cont.)
Development and Public Services (Cont.)
Public Works - Overhead (Cont.)
Small Tools and Equipment
Employee Welfare
Equipment Replacement
Equipment Repairs
Machinery and Equipment
Public Works - Street Maintenance
Regular Salaries
Overtime Salaries
Temporary Salaries
Maintenance Materials - Buildings
Small Tools and Equipment
Operational Materials and Supplies
Machinery and Equipment
Public Works - Traffic
Regular Salaries
Overtime Salaries
Temporary Salaries
Power and Light
Maintenance of Equipment
Maintenance of Buildings
Rentals
Sign Supplies
Small Tools and Equipment
Operating Materials and Supplies
Machinery and Equipment
Automotive
Public Works - Storm Water Management
Regular Salaries
Overtime Salaries
Temporary Salaries
Maintenance of Buildings
Maintenance Materials - Equipment
Maintenance Materials - Buildings
Small Tools and Equipment
Operating Materials and Supplies
Budget
$ 1,000
3,200
140,498
133,293
8,200
590,355
54,084
6,600
7,330
17,000
1,000
4,000
26,600
116,614
37,444
3,100
3,100
88,000
39,000
15,500
400
10,400
2OO
8OO
32,500
230,444
57,204
2,000
6,200
5,000
3,000
5,000
2OO
5,400
84,004
Actual
$ 486
2,696
140,498
116,233
8,420
563,223
64,166
6,107
6,324
11,982
627
5,754
1,171
96,131
30,578
2,386
1,167
85,128
36,102
2,419
8,777
125
955
21,025
29,527
218,189
63,731
5,262
8,635
1,413
1,421
4,516
218
3,964
89,160
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VILLAGE OF GLENVIEW, ILLINOIS
CORPORATE FUND
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED DECEMBER 31, 1987
Highways and Streets (Cont.)
Development and Public Services (Cont.)
Public Works - Snow and Ice Control
Regular Salaries
Overtime Salaries
Temporary Salaries
Contractual Professional Services
Maintenance Materials - Equipment
Operating Materials and Supplies
Machinery and Equipment
Public Works - Forestry
Regular Salaries
Overtime Salaries
Temporary Salaries
Contractual Professional Services
Dues, Subscriptions and Membership
Maintenance of Equipment
Maintenance of Buildings
Books, Pamphlets and Materials
Maintenance Materials - Equipment
Small Tools and Equipment
Operating Materials and Supplies
Public Works - Grounds
Regular Salaries
Overtime Salaries
Temporary Salaries
Maintenance of Buildings
Maintenance Materials - Equipment
Small Tools and Equipment
Operating Materials and Supplies
Buildings/Improvements to Buildings
Building Inspection
Regular Salaries
Overtime Salaries
Temporary Salaries
Longevity Pay
Budget
$ 59,904
24,100
3,600
525
9,500
68,400
10,000
176,029
89,004
3,345
14,800
1,000
100
1,000
31,000
7O
5OO
1,500
4,000
146,319
46,157
1,055
3,500
1,500
500
2,900
4,000
12,500
72,112
245,388
14,000
3,698
2,950
55
Actual
$ 41,007
12,938
1,792
525
5,172
51,022
10,169
122,625
118,733
2,194
16,630
2,171
9O
202
31,865
1,263
1,666
4,924
179,738
54,311
850
116
20O
313
2,755
1,001
12,192
71,738
242,447
10,914
4,901
2,950
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VILLAGE OF GLENVIEW, ILLINOIS
CORPORATE FUND
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED DECEMBER 31, 1987
Highways and Streets (Cont.)
Development and Public Services (Cont.)
Building Inspection (Cont.)
Contractual and Professional Services
Printing, Binding and Publication
Dues, Subscriptions and Memberships
Maintenance of Equipment
Microfilming
Travel
Training
Uniform Allowance
Books, Pamphlets and Materials
Operating Materials and Supplies
Equipment Replacement
Equipment Repairs
Furniture and Fixtures
Public Health
Regular Salaries
Overtime Salaries
Temporary Salaries
Longevity Pay
Contractual Professional Services
Printing, Binding and Publication
Dues, Subscriptions and Memberships
Maintenance of Equipment
Travel Expense
Training
Books, Pamphlets and Materials
Small Tools and Equipment
Operating Materials and Supplies
Other Operational Expense
Equipment Replacement
Equipment Repairs
Machinery and Equipment
Total Highways and Streets
Budget
$ 7,500
8OO
750
8OO
2,800
88O
2,650
6OO
100
8OO
6,400
9,425
6OO
300,141
65,784
1,500
1,964
45O
3OO
100
423
315
585
1,650
3OO
100
1,125
2OO
2,600
8,572
8O
86,048
$2,290,441
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Actual
$ 5,771
835
665
135
1,850
479
1,165
700
63
607
6,400
7,871
685
288,438
68,928
1,152
2,059
450
123
345
246
481
1,370
288
7O
482
118
2,600
1,966
86
80,764
$2,193,805
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Fund Descriptions
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.
Federal Revenue Sharing Fund
The Federal Revenue Sharing Fund provides accountability for Federal Revenue
Sharing monies received under Title I of the State and Local Fiscal Assistance Act
of 1972.
Illinois Municipal Retirement Fund
The Illinois Municipal Retirement Fund is used to account for the revenue 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 Village's share of
State gasoline taxes. State law requires these gasoline taxes to be used to
maintain streets.
Cable TV Fund
The Cable Television Fund is used to account for the financial activity of the
newly created public access cable system. Any governmental body or not-for-profit
community organization will be permitted to broadcast public information or
educational progranm~ing. The cable television management and staff is under the
direct control of the Village of Glenview Board of Trustees.
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VILLAGE OF GLENVIEW, ILLINOIS
LIBRARY FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED DECEMBER 31, 1987
Taxes
Property Taxes - Current
Property Taxes - Prior
Replacement Taxes
Miscellaneous
Interest
Other
Total Revenues
Expenditures
Culture and Recreation
Excess (Deficiency) of Revenues
over Expenditures before
Other Financing (Uses)
Other Financing (Uses)
Operating Transfers (Out)
Illinois Municipal Retirement Fund
Excess (Deficiency) of Revenues over
Expenditures and Other Financing Uses
Budget
$1,527,643
33,200
19,000
217,502
1,797,345
1,693,464
103,881
(62,078)
$ 41,803
Fund Balance
January 1
December 31
See accompanying Notes to the Financial Statements.
59
Actual
$1,507,420
7,696
19,799
20,618
167,916
1,723,449
1,806,620
(83,171)
(62,078)
(145,249)
574,007
$ 428,758
VILLAGE OF GLENVIEW, ILLINOIS
LIBRARY FUND
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL
FOR THE YEAR ENDED DECEMBER 31, 1987
Culture and Recreation
Regular Salaries
Overtime Salaries
Temporary Salaries
Legal Fees
Public Information
Printing
Printing, Binding and Publication
Power and Lights
Heating
Water
Postage
Telephone and Telegraph
Dues and Subscriptions
Maintenance of Equipment
Maintenance of Copiers
Maintenance of EDP Equipment
Maintenance of Data Base
Cable TV
Maintenance of Buildings
Travel Expense
Training
Trustee Expense
Library Programs
Office Supplies
Books, Pamphlets and Materials
Periodicals
Audiovisual
Micro-Form
Video Tapes
Cataloging
Cleaning Sqpplies
Contingencies
Other Operating Expenses
Automationand Expansion
Machinery and Equipment
Gift Fund
Administrative Support
Debt Service
Total Expenditures
Budget
$ 387,760
248,172
3,000
11,000
2,500
6,000
85O
13,000
1,600
6,500
8,500
1,000
5,700
12,000
23,650
3,500
6,000
19,275
3,700
2,700
1,500
4,700
13,650
177,000
12,000
21,800
12,000
13,000
6,000
3,000
5,000
7OO
31,140
97,742
527,825
$1,693,464
6O
Actual
$ 351,521
1,298
277,701
4,619
12,912
2,188
8,133
533
1,957
1,194
6,113
8,130
1,369
4,594
11,787
24,703
2,963
25,343
3,654
2,209
879
6,662
13,809
181,489
10,252
23,188
11,301
11,047
6,249
2,132
4,794
54O
115,737
26,791
13,262
97,742
527,825
$1,806,620
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VILLAGE OF GLENVIEW, ILLINOIS
FEDERAL REVENUE SHARING FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED DECEMBER 31, 1987
61
Intergovernmental
Entitlements
Miscellaneous
Interest Income
Total Revenues
Expenditures
General Government
Tree Planting Program
Sidewalk Extension and Improvement
Other
Total Expenditures
Excess (Deficiency) of Revenues
over Expenditures before
Other Financing (Uses)
Other Financing (Uses)
Operating Transfers (Out)
Capital Projects Fund
Excess (Deficiency) of Revenues
over Expenditures and Other Uses
Fund Balance
January 1
December 31
Budget Actual
$ 2,014
$ 500 959
500 2,973
35,615 35,615
35,615 35,615
1,500 17
72,730 71,247
(72,230) (68,274)
(200,000) (200,000)
$(272,230) (268,274)
275,300
$ 7,026
See accompanying Notes to the Financial Statements.
VILLAGE OF GLENVIEW, ILLINOIS
ILLINOIS MUNICIPAL RETIREMENT FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED DECEMBER 31, 1987
Budget
Revenues
Taxes
Property Taxes - Current $ 209,812
Property Taxes - Prior
Replacement Taxes 10,000
Miscellaneous
Employee Contributions 444,526
Interest 24,000
Other
Total Revenues 688,338
Expenditures
Pension
Retirement Contributions 990,164
Other
Total Expenditures 990,164
Excess (Deficiency) of Revenues
over Expenditures before
Other Financing Sources (301,826)
Other Financing Sources
Operating Transfers In
Waterworks - East Fund 38,080
Waterworks - West Fund 18,757
Sewerage Fund 13,050
Library Fund 62,078
131,965
Excess (Deficiency) of Revenues and
Other Sourqes over Expenditures $(169,861)
Fund Balance
January 1
December 31
See accompanying Notes to the Financial Statements.
62
Actual
$ 218,329
1,595
7,477
469,358
22,932
53,700
773,391
1,031,359
5,275
1,036,634
(263,243)
38,080
18,757
13,050
62,078
131,965
(131,278)
430,192
$ 298,914
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VILLAGE OF GLENVIEW, ILLINOIS
MOTOR FUEL TAX FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED DECEMBER 31, 1987
Intergovernmental
Allotments
Miscellaneous
Interest
Other
Total Revenues
Budget
$ 546,700
18,170
564,870
Expenditures
381,000
Excess of Revenues over Expenditures
before Other Financing (Uses)
Other Financing (Uses)
Operating Transfers (Out)
Capital Projects Fund
183,870
(774,000)
$(590,130)
Excess (Deficiency) of Revenues over
Expemditures and Other Uses
Fund Balance
January 1
December 31
See accompanying Notes to the Financial Statements.
Actual
$ 580,405
24,531
584
605,520
605,520
63
(692,900)
(87,380)
617,589
530,209
VILLAGE OF GLENVIEW, ILLINOIS
CABLE TV FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED DECEMBER 31, 1987
Taxes
Cable TV Franchise Tax
Miscellaneous
Interest
Total Revenues
Budget
$80,000
80,000
Expenditures
General Government
56,700.
Excess of Revenues over Expenditures
before Other Financing Sources
Other Financing Sources
Operating Transfers In
Waterworks - West Fund
23,300
$23,300
Excess of Revenues and Other
Sources over Expenditures
Fund Balance
January 1
December 31
See accompanying Notes to the Financial Statements.
Actual
$ 77,433
193
77,626
49,147
28,479
73,500
101,979
$101,979
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VILLAGE OF GLENVIEW, ILLINOIS
CABLE TV FUND
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL
FOR THE YEAR ENDED DECEMBER 31, 1987
General Government Regular Salaries
Contractual Professional Services
Postage
Telephone
Dues, Subscriptions, Memberships
Maintenance of Equipment
Travel Expense
Uniform Allowance
Office Supplies
Books, Pamphlets, Materials
Maintenance Materials - Buildings
Operating Materials and Supplies
Computer Supplies
Reimbursable Expense
Improvements to Building
Machinery and Equipment
Furniture and Fixtures
Budget
$12,000
32,000
100
100
100
2,500
1,500
2OO
100
100
5OO
2,500
1,000
1,000
1,000
1,000
1,000
$56,700
Actual
$11,024
30,000
7O
34
23
2,109
1,161
234
2
55
231
1,148
424
536
803
986
307
$49,147
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Fund Descriptions
Waukegan Road Sanitary Service Bond Series of 1968
This issue in the amount of $38,000 was used to construct a sanitary
sewer on Woodlawn Drive.
Police Administration Building Bond Series of 1972
This issue in the amount of $1,400,000 was used to construct the Police
Administration Building.
Public Library Parkin~ Lot Bond Series of 1976
This issue in the amonnt of $200,000 was used to construct a library
parking lot.
Municipal Building Bond Series of 1979
This issue in the amount of $950,000 was used to construct the Village
Hall.
Library Bond Series of 1984
This issue in the amount of $3,100,000 was used to construct an addition
to the library.
Library Bond Series of 1985
This issue in the amount of $150,000 represents
the Library Bonds of 1984. The total 1984
$3,250,000.
the unissued portion of
authorization was for
Special Service Area Nnmber 1 Bond Series of 1980
This issue in the amount of $70,000 was used to install a lighting system
in the Swainwood Subdivison.
Special Service Area Number 2 Bond Ser~es of 1981
This issue in the amount of $38,000 was used to construct a sanitary
sewer on Woodlawn Drive.
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Fund Descriptions (Cont.)
Special Service Area Number 3 Bond Series of 1981
This issue in the amount of $25,000 was used to construct a water main on
Woodlawn Drive.
Special Service Area Number 4 Bond Series of 1982
This issue in the amount of $90,000 was used to construct a sanitary
sewer in the Northwest portion of the Village.
Special Service Area Number 5 Bond Series of 1985
This issue in the amount of $48,000 was used to construct a sanitary
sewer system and water main along Glenwood Avenue and Sunset Ridge Road.
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Fund Descriptions
Public Works Garage Fund
The Public Works Garage Fund is used to account for the revenues and expenditures
associated with the construction of a new public works garage. Construction of the
garage began in the fall of 1982.
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 Village.
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V~*~ OF GLENVIEW, ILLINOIS
CC~MINING ~ OF REVENUES, EXPE~I~ORES,
AI~ ~t~N~S IN FUbD BALANCES
FOR ~ YEAR EbI~D ~ 31, 1987
Iht ergoverm~nt al
Miscellaneous
Total P~venues
Expenditures
C~pit al Oat lay
Excess (Deficiency) of
l~venues over Expenditures
before Other Financing Sources
Other Firmncing Sources (Uses)
Operating Transfers In
Operating Transfers (Oat)
Excess (Deficiency) of P~venues
and Other Sources over
Expenditures and Other Uses
Fund Balances
January 1
Prior Period Mjustnmnt
~djusted Balances
Rasidual Equity Transfers In
P~sidual Equity Transfers (Oat)
December 31
P~blic Capital
~brks Equit~nent Capital
Garage Raplac~nt Pro~ects
Totals
1987 1986
$ 3,238 $ 3,238 $ 246,566
$ 3,598 $409,447 ~09,517 722,562 579,385
3,598 409,447 312,755 725,800 825,951
- 379,936 2,360,030 2,739,966 1,558,995
3,598 29,511 (2,047,275) (2,014,166) (733,0~4)
1,625,304 1,625,304 987,150
(89,850) (89,85O)
- - 1,535,454 1,535,454 987,150
3,598
144,525
144,525
(148,123)
(3,598)
29,511 (511,821) (478,712) 254,106
588,966 819,652 1,553,143 1,591,132
89,850 89,850 (65,522)
588,966 909,502 1,642,993 1,525,610
148,123 148,123 362,699
(148,123) 589,272)
588,966 1,057,625 1,642,993 1,299,037
$618,477 $ 545,804 $ 1,164,281 $1,553,143
See accon~nylnglq~tes to the Firmmcial State.htS.
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VILLAGE OF GLENVIEW, ILLINOIS
PUBLIC WORKS GARAGE FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED DECEMBER 31, 1987
Miscellaneous
Interest
Budget
$1,000
Expenditures
Contractual Services
Contractual Professional Services
1,000
Excess of Revenues over Expenditures
Fund Balance
January 1
Residual Equity Transfer Out -
Capital Projects
December 31
See accompanying Notes to the Financial Statements.
Actual
$ 3,598
3,598
144,525
(148,123)
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VILLAGE OF GLENVIEW, ILLINOIS
CAPITAL EQUIPMENT REPLACEMENT FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED DECEMBER 31, 1987
Budget
Revenues
Miscellaneous
Interest $ 56,000
Other 507,854
Total Revenues 563,854
Expenditures
Capital Outlay
Automotibles 540,100
Other 1,000
Total Expenditures 541,100
Excess of Revenues over Expenditures $ 22,754
Fund Balance
January 1
December 31
See accompanying Notes to the Financial Statements.
Actual
$ 422
409,025
409,447
379,576
360
379,936
29,511
588,966
$618,477
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VILLAGE OF GLENVIEW, ILLINOIS
CAPITAL PROJECTS FUND
STATEMENT OF P~EVENUES, EXPENDITURES,
AND CHANGES IN FUND BALkNCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED DECENDER 31, 1987
Miscellaneous
Expenditures
Capital Outlay
Architects Fees
~ainage
Engineering - Construction
Engineering Design
Engineering - Study
Land ~quisition
Parking Lots
Sanitary Sawer
Sidewalks
Traffic Signals
Water Distribution and Storage
M~ters
TU Inspections
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures
before Other Financing Sources
Other Financing Sources
Operating Transfers In (Out)
Sewerage Fund
Public Works Garage Fund
Prior Period Adjustment
Adjusted Balance
R~sidual Equity Transfer In
Public Works Garage Fund
December 31
Budget
$3,600,000
1,935,350
5,535,350
4,208,000
4,208,000
1,327,350
368,000
774,000
255,000
452,650
120,000
1,969,650
$3,297,000
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Actual
3,238
108,866
200,651
312,755
11,160
1,488,273
12,187
13,636
3,738
51,688
48,800
22,122
13,826
43,106
276,262
64,095
11,933
47,686
45,868
65,435
3,548
54,242
14,565
67,860
2,360,030
(2,047,275)
256,258
200,000
692,900
250,000
(80,000)
226,146
(9,850)
11535,454
(511,821)
819,652
89,850
909,502
148,123
1,057,625
545,804
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Fund Descriptions
Waterworks - East Fund
The Waterworks - East Fund is used to account for the provision of water and sewer
service to the residents of east 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.
Waterworks - West Fund
The Waterworks - West Fund is used to account for the provision of water service to
the residents of west Glenview and the unincorporated area adjacent to the western
boarder of the Village. All activity necessary to provide such services is
accounted for in this fund including, but not limited to, Administration (Dfrector
of Public Works), Operations, Maintenance, Financing and related Debt Service, and
Billing and Collection.
Sewerage Fund
The Sewerage Fund is used to account for the funds necessary to provide sanitary
sewer service to both incorporated and unincorporated Gleoview 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 Village.
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VILLAGE OF GLENVIEW, ILLINOIS
ENTERPRISE FUNDS
COMBINING BALANCE SHEET
DECEMBER 31, 1987
(See Following Page)
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VILLAGE OF GLENVIEW, ILLINOIS
ENTERPRISE FUNDS
COMBINING STATEMENT OF REVENUES, ERPENSES,
AND CHANGES IN R~TAINED EARNINGS
' FOR THE YEAR ENDED DECEMBER 31, 1987
Waterworks Waterworks
- East - West Sewerage
74
Meter Fees
Parking Decals
A~ministracive Support Charges
Administration
Operations
Total Operating Expenses
Gain om Sale of Property
Loss on Disposal of Vehicles
Net Income before
Operating Transfers
Operating Transfers In
Operatlng Transfers (Out)
Net Income
Ret ained Earnings
January 1
Prior Period Adjustment
Adjusted Balances
~esidual Equity Trapsfer In
Residual Equity Transfer (Out)
December 3l
Parking
Lot
Totals
1987 1986
$1,926,768 $2,367,767 $ 563,478 $4,858,013 $4,338,164
$ 11,109 li,[09 11,144
58,195 84,439 122,634 115,240
19,776 25,043 44,819 44,280
63,899 63,899 64,373
89,772 89,772 92,200
41,900 55,982 16,400 114,282 109,716
2,116,411 2,533,231 579,878 75,008 5,304,528 4,775,117
186,602 322,316 56,819 50,000 615,737 541,852
1,420,554 987,746 120,730 13,414 2,542,444 2,243,675
82,673 228,579 31,958 1,630 344,840 369,496
1,6891829 1~538,641 209,507 65,044 31503,021 3,155,023
426,582 994,590 370,371 9,964 1,801,507 1,620,094
16,968 3,947 3,466 13,748 38,129 35,365
(5,355) (454,537) (459,8921 (477,0551
110,665 110,665 29,597
(90,1841
11,613 (339,925) 3,466 13,748 (31i,0981 (502,277)
438,195 654,665 373,837 23,712 1,490,409 1,117,817
48,445 60,000 128,445 75,000
(38,080) (130,8521 (263,050) (431,9821 (283,584)
10,365 (50,852) (263,0501 (303,537) (208,584)
448,560 603,813 110,787 23,712 1,186,872 909,233
2,545,737 1,887,648 1,743,041 378,942 6,555,368 5,115,736
(89,850) (89,850} 530,399
2,455,887 1,887,648 1,743,041 378,942 6,465,518 5,646,135
1,550,739
(1,550,7391
2~455,887 1,887,648 1,743,041 378,942 6,465,518 5,646,135
$2,904,447 $2,491,461 $1,853,828 $402,654 $7,652,390 $6,555,368
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FOR T~YEARM~DMDDEC~I~R31, 1987
Cash Was Provided By
Operations
Net Inccme
Add B~k Non-Cash ~xpense
Depreciation
Decregse in O~rrent Assets
Fixed Assets Transfered Oat
Fixed Assets Netired
Increase in C~rrent Liabilities
Residual Equity Transfer In
Prior Period Adjustment
Proceeds from Sale of
General (~oligation ~onds
Cash Was Used ~b
Increase Oarre~t Assets
Inerease Fixed Assets
Fixed Assets Trm~sfered In
Inerease Constrtmtion in Progress
Decrease Gerrent Liabilities
Retire ~ Prineipal
Decrease Contributed Capital
Residual Equity Transfers Oat
P~inr Period Adjustment
Cash and Invest~mnts
January 1
December 31
Commuter
Waterworks Water~rks Parking Totals
- East - West Sewerage Lot 1987 1986
$ 448,560 $603,813 $110,787 $ 23,712 $1,186,872 $ 909,233
82,673 228,578 31,958 1,630 344,839 369,496
531,233 832,391 142,745 25,342 1,531,711 1,278,729
41,039
1,425,901
14,361 14,361
1,348 1,3~8 93,891
1,550,739
530,399
180,000 120,000 300,000
711,233 966,752 144,093 25,342 1,847,420 4,920,698
237,291 394,801 80,637 21,795 734,524 693,014
75,712 5,784 81,496 322,203
1,425,~01
92,890
77,504 91,741 3,252 172,497 270,945
15,720 460,480 476,200 425,000
134,494
1,550,739
89,850 89,850
496,077 947,022 86,421 25,047 1,554,567 4,915,186
215,156 19,730 57,672 295 292,853 5,512
(457,255) 473,833 75,708 301,844 394,130 388,618
$(242,099) $493,563 $133,380 $302,139 $ 686,983 $ 394,130
Sae accompanying Notes to thru Financial Statements.
VILLAGE OF GLENVIEW, ILLINOIS
WATERWORKS - EAST FUND
STATEMENT OF CHANGES IN CONTRIBUTED CAPITAL
FOR THE YEAR ENDED DECEMBER 31, 1987
Net Increase (Decrease)
Account Balance
January 1
December 31
See accompanying Notes to the Financial Statements.
$18,291
$18,291
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VILLAGE OF GLENVIEW, ILLINOIS
WATERWORKS - EAST FUND
STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN P~ETAINED EARNINGS - BUDGET AND ACTUAL
FOR THE YEAR ENDED DECEMBER 31, 1987
Water Charges
Water Meter Repair Charges
Water Connection Charges
Administrative Support
Brass Fittings
Operatimg Expenses Excluding Depreciation
Administration
Operations
pumping Station
Distribution System
Overhead
Total Operating Expenses Excluding Depreciation
Operating Income before Depreciation
Net Income before Operating Transfers
Operating Transfers In (Out)
Waterworks - West Fund
Illinois Mumicipal Retirement Fund
Public Works Garage Fund
Capital Projects Fund
Net Income
R~tained Earnings
January 1
Prior Period Adjustment
Adjusted Balance
December 31
Budget
$1,836,000
200
25,000
8,000
89,772
13,000
2,500
3,000
5,000
1,982,472
192,901
871,450
126,300
184,078
257,010
1,631,739
350,733
350,733
14,000
14,000
364,733
(38,080)
(30,000)
(20,000)
(88,080)
$ 276,653
77
Actual
$1,926,768
38,195
19,776
89,772
21,693
3,605
7,020
1,526
8,056
2,116,411
186,602
1,008,925
111,627
113,694
186,308
1,607,156
509,255
(82,673)
426,582
16,968
(5,355)
11,613
438,195
38,595
(38,080)
9~850
10,365
448,560
2,545,737
(89,850)
2,455,887
92,904,447
VILLAGE OF GLENVIEW, ILLINOIS
WATERWORKS - EAST FUND
SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL
FOR THE YEAR ENDED DECEMBER 31, 1987
Administration
Contractual Professional Services
Printing, Binding and Publication
Postage
Computer Supplies
Administrative Charges - General Fund
Bank Charges
Total Administration
Budget
$ 3,750
5O
5,000
3,500
180,601
$192,901
Operations
Supply and Metering
Regular Salaries
Overtime Salaries
Temporary Salaries
Contractual Professional Services
Water
Maintenance of Buildings
Operational Materials and Supplies
Total Supply and Metering
$ 36,720
2,040
1,330
20,000
798,000
4,000
9,360
$871,450
Pumping Station
Regular Salaries
Overtime Salaries
Temporary Salaries
Contractual Professional Services
Power and Light
Heating
Telephon~
Maintenance of Building
Cleaning and Household Supplies
Maintenance Materials - Equipment
Maintenance Materials - Building
Operating Materials and Supplies
Machinery and Equipment
Less Nonoperating Expenses
Fixed Assets Capitalized
Total Pumping Station
$ 16,125
14,750
2OO
8,325
66,000
6,000
4,700
5,500
50
3,000
600
1,050
55O
126,850
55O
$126,300
Actual
$ 1,051
11
4,536
38O
180,601
23
$ 186,602
$ 39,051
563
807
16,607
937,359
3,417
11,121
$1,008,925
$ 22,925
15,215
257
4,081
56,338
2,529
1,969
3,528
25
2,023
1,889
848
499
112,126
499
111,627
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VILLAGE OF GLENVIEW, ILLINOIS
WATERWORKS - EAST FUND
SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED DECEMBER 31, 1987
Operations (Cont.)
Distribution System
Regular Salaries
Overtime Salaries
Temporary Salaries
Contractual Professional Services
Maintenance of Equipment
Maintenance of Buildings
Rentals
Sign Supplies
Maintenance Materials - Buildings
Operating Materials and Supplies
Machinery and Equipment
Less Nonoperating Expenses
Fixed Assets Capitalized
Total Distribution System
Budget
$ 91,368
27,500
7,410
5,000
500
17,000
300
500
30,500
4,000
8,000
192,078
8,000
$184,078
Overhead
Regular Salaries
Overtime Salaries
Temporary Salaries
Longevity Pay
Dues, Subscriptions and Memberships
Maintenance of Equipment
Rentals
Travel Expense
Training
Uniform Allowance
Office Supplies
Books, Pamphlets and Materials
Small Tools and Equipment
Operational Materials and Supplies
Computer Supplies
Equipment Replacement
Equipment Repairs
Machinery and Equipment
Less Nonoperating Expenses
Fixed Assets Capitalized
Total Overhead
$104,000
3OO
14,228
3,150
470
610
4,200
1,650
1,900
2,700
65O
3OO
4,600
6OO
2OO
52,028
65,424
7,125
264,135
7,125
$257,010
Actual
$ 54,183
6,264
4,145
4,353
95
10,380
30,119
4,155
7,972
121,666
7,972
$113,694
$106,997
321
8,159
3,150
435
835
925
1,802
712
2,915
1,013
225
2,086
386
55,577
6,782
192,320
6,012
$186,308
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VILLAGE OF GLENVIEW, ILLINOIS
WATERWOR/IS - WEST FUND
STATEMENT OF ~LEVENUES, EXPENSES,
AND CHANGES IN RETAINED EARNINGS - BUDGET AND ACTUAL
FOR THE YEAR ENDED DECEMBER 31, 1987
Operations
Net Income before Operating Transfers
Operating Transfers (Out)
Illinois Municipal Retirement Fund
Public Works Garage Fund
Capital Projects Fund
Waterworks - East Fund
Cable TV Fund
R~tained Earnings
January 1
December 31
See accompanying Notes to the Financiai Statements.
Budset
$1,915,900
60,000
20,000
21,000
4,000
2,500
2,000
2,027,400
329,641
598,885
185,993
130,310
1,244,829
782,571
782,571
9,000
9,000
(18,757)
(20,000)
(32,000)
(75,000)
(145,757)
$ 648,814
Actual
81
$2,367,767
84,438
25,043
24,921
2,411
6,208
1,935
20,507
2,533,231
322,316
701,417
153,321
133,008
1,310,062
1,223,169
(228,579)
994,590
3~947
(454,537)
110,665
(339,925)
654,665
(18,757)
80,000
(38,595)
(73,500)
(50,852)
603,813
1,887,648
$2,491,461
VILLAGE OF GLENVIEW, ILLINOIS
WATERWORKS - WEST FUND
SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL
FOR THE YEAR ENDED DECEMBER 31, 1987
Administration
Contractual Professional Services
Printing, Binding and Publications
Postage
Computer Supplies
Administrative Charges
General Fund
Waterworks Fund - East
Sewerage Fund
Other Operating Expenses
Total Administration
Budget
$ 3,000
50
6,000
3,500
210,819
89,772
16,400
100
$329,641
Operations
Supply and Metering
Regular Salaries
Overtime Salaries
Temporary Salaries
Contractual Professional Services
Water
Maintenance of Buildings
Operating Materials and Supplies
Total Supply and Metering
$ 23,925
1,050
400
14,000
532,000
4,000
23,510
$598,885
Actual
$ 465
4,760
210,819
89,772
16,400
100
$322,316
29,996
445
644
11,973
636,324
1,813
20,222
$701,417
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VILLAGE OF GLENVIEW, ILLINOIS
WATERWORKS - WEST FUND
SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED DECEMBER 31, 1987
Operations (Cont.)
Pumping Station
Regular Salaries
Overtime Salaries
Temporary Salaries
Contractual Professional Services
Power and Light
Heating
Telephone
Maintenance of Buildings
Cleaning and Household Supplies
Maintenance Materials - Equipment
Maintenance Materials - Buildings
Operating Materials and Supplies
Machinery and Equipment
Less Nonoperating Expenses
Fixed Assets Capitalized
Total Pumping Station
Budget
$ 17,168
10,550
100
7,275
115,000
2,000
4,200
25,500
5O
2,600
75O
8OO
1,200
187,193
1,200
$185,993
Distribution System
Regular Salaries
Overtime Salaries
Temporary Salaries
Contractual ~rofessional Service
Maintenance of Equipment
Maintenance of Buildings
Sign Supplies
Maintenance Materials - Building
Operating Materials and Supplies
Machinery and Equipment
Less Nonoperating Expenses
Fixed Assets Capitalized
Total Distribution System
$ 61,070
12,500
5,940
3,500
5OO
16,000
5OO
26,800
3,500
8,000
138,310
8,000
$130,310
Actual
$ 20,112
15,274
312
5,308
104,079
764~
2,798
1,873
22
1,759
163
604
1,438
154,506
1,185
$153,321
$ 81,642
4,131
6,429
3,638
95
7,723
486
24,505
4,359
7,972
140,980
7,972
$133,008
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VILLAGE OF GLENVIEW, ILLINOIS
SEWERAGE FUND
STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN RETAINED EARNINGS - BUDGET AND ACTUAL
FOR THE YEAR ENDED DECEMBER 31, 1987
Operating Revenues
Charges for Services
Sewer Charges
Miscellaneous
Other
Total Operating Revenues
Operating Expenses Excluding Depreciation
Administration
Operations
Pumping St ation
Collection
Total Operating Expenses
Operating Income before Depreciation
Depreciation
Operating Income
Nonoperating Income (Expenses)
Interest Income
Net Income before Operating Transfers
Operating Transfers (Out)
Illinois Municipal Retirement Fund
Public Works Garage Fund
Capital Project Fund
Net Income
Retained Earnings
January 1
December 31
Budget
$ 459,000
16,400
475,400
69,937
20,492
102,752
193,181
282,219
282,219
1,500
283,719
(13,050)
(2O,OOO)
(230,000)
(263,050)
$ 20,669
See accompanying Notes to the Financial Statements.
Actual
563,478
16,400
579,878
56,819
10,070
110,660
177,549
85
402,329
(31,958)
370,371
3,466
373,837
(13,050)
(250,000)
(263,050)
110,787
1,743,041
$1,853,828
VILLAGE OF GLENVIEW, ILLINOIS
SEWERAGE FUND
SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL
FOR THE YEAR ENDED DECEMBER 31, 1987
Administration
Contractual Professional Services
Printing, Binding and Publications
Postage
Office Supplies
Computer Supplies
Administrative Charges - General Fund
Equipment Replacement
Equipment Repairs
Total Administration
Budget
$ 2,000
100
2,000
150
1,500
46,980
8,900
8,307
$ 69,937
Operations
Pumping Station
Regular Salaries
Overtime Salaries
Temporary Salaries
Contractual Professional Services
Power and Light
Maintenance of Equipment
Operational Materials and Supplies
Total Pumping Station
$ 9,372
420
100
5,000
3,000
1,600
1,000
$ 20,492
Collection System
Regular Salaries
Overtime Salaries
Temporary Salaries
Contractual Professional Services
Maintenance of Equipment
Maintenance of Buildings
Rentals
Maintenance Materials
Small Tools and Equipment
Operational Materials and Supplies
Machinery and Equipment
Less Nonoperating Expenses
Machinery and Equipment
Total Collection System
$ 66,572
2,620
5,000
6,000
5OO
5,000
60
3,000
14,000
5,650
108,402
5,650
$102,752
Actual
$ 137
8
46,980
9,694
$ 56,819
$ 7,204
896
94
1,630
246
$ 10,070
$ 58,327
1,899
3,072
26,406
4,483
60
3,353
362
12,698
5,784
116,444
5,784
$110,660
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VILLAGE OF GLENVIEW, ILLINOIS
COMMUTER PARKING LOT FUND
STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN RETAINED EARNINGS - BUDGET AND ACTUAL
FOR THE YEAR ENDED DECEMBER 31, 1987
Operating P~venues
Charges for Services
Meter Fees
Parking Decals
Total Operating Revenues
Budget
$10,700
55,000
65,700
50,000
22,150
72,150
(6,450)
13,000
6,550
$ 6,550
Operating Expenses
Administration
Operations
Depreciation
Total Operating Expenses
Operating Income (Loss)
Nonoperating Income
Interest Income
Net Income Before Operating Transfers
Operating Transfers (Out)
Capital Projects Fund
Net Income
Retained Earnings
January 1
December 31
See accompanying Notes to the Financial Statements.
Actual
$ 11,109
63,899
75,008
50,000
13,414
1,630
65,044
9,964
13,748
23,712
23,712
378,942
$4O2,654
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VILLAGE OF GLENVIEW, ILLINOIS
COMMUTER PARKING LOT FUND
SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL
FOR THE YEAR ENDED DECEMBER 31, 1987
Administration
Administration - Corporate Fund
Budget
$50,000
Operations
Contractual Professional Services
Printing, Binding and Publications
Power and Light
Postage
Rentals
Maintenance Materials
Operational Materials
$ 7O0
5OO
1,400
25O
15,000
3OO
4,000
$22,150
Actual
$50,000
$ 2,110
212
7,020
4,072
$13,414
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ASSETS
Leasehold Improvements
Machinery and Equipment
ACCUMULATED DEPRECIATION/
AMORTIZATION
Leasehold Improvements
Machinery and Equipment
Net Asset Value
VILLAGE OF GLENVIEW, ILLINOIS
COMMUTER PARKING LOT FUND
SCHEDULE OF FIXED ASSETS AND DEPRECIATION
FOR THE YEAR ENDED DECEMBER 31, 1987
Balances
January 1
Balances
Additions Retirements December 31
$106,514
2,820
$109,334
$106,514
2,820
109,334
$103,561
423
$103,984
$1,348 104,909
282 705
$1,630 105,614
$ 3,720
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Fund Description
Municipal Equipment Repair Fund
The Municipal Equipment Repair Fund is used to account for the costs of repairing
and maintaining all vehicles of the Village. These costs include labor, material,
fuel, and fixed overhead of the Village's repair facility.
VILLAGE OF GLENVIEW, ILLINOIS
MUNICIPAL EQUIPMENT REPAIR FUND
BALANCE SHEET
DECEMBER 31, 1987
ASSETS
Current Assets
Cash and Investments
Receivables - Accounts
Total Assets
LIABILITIES AND FUND EQUITY
Current Liabilities Accounts Payable
Fund Equity
Retained Earnings
Total Liabilities and Fund Equity
See accompanying Notes to the Financial Statements.
1987
$78,530
5,719
$84,249
$ 1,004
83,245
$84,249
1986
$90,397
6,819
$97,216
$ 259
96,957
$97,216
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VILLAGE OF GLENVIEW, ILLINOIS
MUNICIPAL EQUIPMENT REPAIR FUND
STATEMENT OF REVENUES, EXPENSES AND CHANGES
IN RETAINED EARNINGS - BUDGET AND ACTUAL
FOR THE YEAR ENDED DECEMBER 31, 1987
Operating Revenues
Charges for Services
Miscellaneous
Total Operating Revenues
Operating Expenses
Operations
Operating Income (Loss)
Nonoperating Revenues
Interest Income
Net Income (Loss)
Retained Earnings January 1
December 31
1987 1986
Budget Actual Actual
$417,118 $369,880 $375,592
11,229 11,149
417,118 381,109 386,741
404,992 398,306 377,326
12,126 (17,197) 9,415
3,000 3,485 3,096
$ 15,126 (13,712) 12,511
96,957 84,446
$ 83,245 $ 96,957
See accompanying Notes to the Financial Statements.
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VILLAGE OF GLENVIEW, ILLINOIS
MUNICIPAL EQUIPMENT REPAIR FUND
STATEMENT OF CHANGES IN FINANCIAL POSITION
FOR THE YEAR ENDED DECEMBER 31, 1987
Cash Was Provided By
Operations
Net Income
Decrease in Current Assets
Increase in Current Liabilities
Cash Was Used To
Fund Net Loss
Increase Current Assets
Decrease Current Liabilities
1987
$ 1,i00
745
1,845
13,712
13,712
Net (Decrease)
(11,867)
Cash and Investments
January 1
December 31
90,397
$ 78,530
See accompanying Notes to the Financial Statements.
1986
$12,511
12,511
3,270
12,149
15,419
(2,908)
93,305
$90,397
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VILLAGE OF GLENVIEW, ILLINOIS
MUNICIPAL EQUIPMENT REPAIR FUND
SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL
FOR THE YEAR ENDED DECEMBER 31, 1987
Operations
Regular Salaries
Overtime Salaries
Temporary Salaries
Longevity Pay
Contractual Professional Services
Maintenance of Equipment
Maintenance of Buildings
Uniform Allowance
Fuel
Motor Vehicle Supplies
Cleaning and Household Supplies
Maintenance Materials - Equipment
Maintenance Materials - Buildings
Small Tools and Equipment
Equipment Replacement
Other Maintenance
Machinery and Equipment
Total
Less Nonoperating Expenses
Fixed Assets Capitalized
Total Operating Expenses
Budget
$124,415
4,690
6,200
900
5,000
25,200
2,500
3,100
115,000
25,500
2,500
75,000
2,500
2,500
5,650
4,337
24,800
429,792
24,800
$404,992
Actual
$117,698
3,526
1,796
1,200
4,980
19,400
2,270
2,088
86,474
19,369
2,759
74,706
3,147
2,864
5,650
29,483
20,896
398,306
$398,306
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Fund Descriptions
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.
Firemen's Pension Fund
The Firemen's Pension Fund is used to account for the resources necessary to
provide disability and retirement benefits to personnel of the Glenview Fire
Department.
EXPENDABLE TRUST
Escrow Deposit Fund
The Escrow Fund is used to account for the funds placed on deposit with the Village
by building contractors working within the Village 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 Village being
held on a temporary basis such as security deposits for use of Village equipment.
AGENCY
Deferred Compensation Plan Fund
The Deferred Compensation Plan Fund is used to account for salary deductions held
by the Village for certain Village employees. The Deferred Compensation is
available to employees upon termination or retirement.
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VILLAGE OF GLENVIEW, ILLINOIS
TRUST AND AGENCY FUNDS
EXPENDABLE TRUST FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES
FOR THE YEAR ENDED DECEMBER 31, 1987
Revenues
Miscellaneous
Interest Income
Other
Total Revenues
Expenditures
General Government
Contractual Services
Escrow Totals
Deposit Deposit 1987 1986
$ 255,426 $1,489 $ 256,915 $ 150,703
226,146 2,544 228,690 2,258
481,572 4,033 485,605 152,961
- 3,477 3,477 3,398
481,572 556 482,128 149,563
(255,426) (255,426) (149,329)
(226,146) (226,146)
(481,572) (481,572) (149,329)
Excess of Revenues over Expenditures
before Other Financing (Uses)
Other Financing (Uses)
Operating Transfers (Out)
Corporate Fund
Capital Projects Fund
Excess of Rmvenues over Expenditures
and Other Uses
556 556 234
Fund Balances
January 1
December 31
2,278 2,278 2,044
$2,834 $ 2,834 ~ 2,278
See accompanying Notes to the Financial Statements.
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VILLAGE OF GLENVIEW, ILLINOIS
TRUST AND AGENCY FUNDS
PENSION TRUST FUNDS
COMBINING STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN FUND BALANCES
FOR THE YEAR ENDED DECEMBER 31, 1987
Operating Revenues
Taxes
Property Taxes
Replacement Taxes
Contributions - Employees'
Miscellaneous
Interest Income
Gain on Sale of Investments
Other
Total Operating
Revenues
Operating Expenses
Pensions and Refunds
Loss on Sale of Investments
Other
Total Operating
Expenses
Police Firemen's Totals
Pension Pension 1987 1986
458,613 $ 280,877 $ 739,490 $ 779,564
15,586 9,558 25,144 38,289
173,746 111,604 285,350 254,708
834,506 715,554 1,550,060 1,608,018
98,223 253,964 352,187
24,178 45,519 69,697 54,755
1,604,852 1,417,076 3,021,928 2,735,334
305,476 94,748 400,224 384,159
11,312 32,813 44,125
4,384 858 5,242 15,828
321,172 128,419 449,591
Net Income
1,283,680 1,288,657 2,572,337
Fund Balances
January 1
December 31
6,939,962 5,825,692
$8,223,642 $7,114,349
399,987
2,335,347
12,765,654 10,430,307
See accompanying Notes to the Financial Statements.
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$15,337,991 $12,765,654
VILLAGE OF GLENVIEW, ILLINOIS
TRUST AND AGENCY FUNDS
PENSION TRUST FUNDS
COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION
FOR THE YEAR ENDED DECEMBER 31, 1987
Cash Was Provided By
Operations
Net Income
Decrease in Current Assets
Police Firemen's Totals
Pension Pension 1987 1986
$1,283,680 $1,288,657 $ 2,572,337 $ 2,335,347
78,976 78,976 73,739
1,362,656 1,288,657 2,651,313 2,409,086
114,732 114,732
4,012
114,732 114,732 4,012
Cash Was Used To
Increase in Current Assets
Decrease Current Liabilities
1,362,656 1,173,925 2,536,581 2,405,074
Cash and Investments
January 1
December 31
6,331,943
$7,694,599
5,417,834 11,749,777 9,344,703
.$6,591,759 $14,286,358 $11,749,777
See accompanying Notes to the Financial Statements.
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VILLAGE OF GLENVIEW, ILLINOIS
POLICE PENSION FUND
STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED DECEMBER 31, 1987
Operating Revenues
Taxes
Property Taxes - Current
Property Taxes - Prior
Replacement Taxes
Contributions - Employees'
Miscellaneous
Interest Income
Gain on Sale of Investments
Other
Total Operating Revenues
Operating Expenses
Pensions and Refunds
Loss on Sale of Investments
Other
Total Operating Expenses
Budget
$ 464,876
18,100
157,161
511,140
19,221
1,170,498
299,114
1,650
300,764
869,734
Net Income
Fund Balance
January 1
December 31
See accompanying Notes to the Financial Statements.
Actual
$ 441,462
17,151
15,586
173,746
834,506
98,223
24,178
1,604,852
305,476
11,312
4,384
321,172
1,283,680
6,939,962
$8,223,642
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VILLAGE OF GLENVIEW, ILLINOIS
FIREMEN'S PENSION FUND
STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED DECEMBER 31, 1987
Operating Revenues
Taxes
Property Taxes - Current
Property Taxes - Prior
Replacement Taxes
Foreign Fire Insurance Tax
Contributions - Employees'
Miscellaneous
Interest Income
Gain on Sale of Investments
Other
Total Operating Revenues
Operating Expenses
Pensions and Refunds
Loss on Sale of Investments
Other
Total Operating Expenses
Budget
$277,190
10,200
22,000
102,797
421,360
13,671
847,218
93,920
85O
94,770
$752,448
Net Income
Fund Balance
January !
December 31
See accompanying Notes to the Financial Statements.
100
Actual
$ 270,718
10,159
9,558
30,601
111,604
715,554
253,964
14,918
1,417,076
94,748
32,813
858
128,419
1,288,657
5,825,692
$7,114,349
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VILLAGE OF GLENVIEW, ILLINOIS
DEFERRED COMPENSATION PLAN FUND
STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
FOR THE YEAR ENDED DECEMBER 31, 1987
ASSETS
Assets Held by Agents for
Deferred Compensation
Plan (Market Value)
Balance
January 1
$2,294,313
$2,294,313
Balance
Additions Deletions December 31
$580,023 $67,693 $2,806,643
$580,023 $67,693 $2,806,643
LIABILITIES
Due to Participants
See accompanying Notes to the Financial Statements.
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VILLAGE OF GLENVIEW, ILLINOIS
GENERAL FIXED ASSETS ACCOUNT GROUP
SCHEDULE OF GENERAL FIXED ASSETS - BY SOURCE
DECEMBER 31, 1987
GENERAL FIXED ASSETS
Land
Buildings and Improvements
Construction in Progress
Equipment
Furniture
Office Equipment
1987 1986
$ 1,981,758 $ 1,981,758
11,770,290 8,285,267
3,485,023
4,800,332 4,307,910
538,217 527,349
321,510 305,373
$19,412,107
$18,892,680
INVESTMENT IN GENERAL
FIXED ASSETS
General Revenues
Bond Issues
$13,958,215
5,453,892
$13,438,788
5,453,892
$19,412,107 $18,892,680
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VILLAGE OF GLENVIEW, ILLINOIS
GENERAL FIXED ASSETS ACCOUNT GROUP
SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS -
BY FUNCTION AND ACTIVITY
DECEMBER 31, 1987
Function and Activity
General Government
Executive
Administrative
Finance
Building and Grounds
Total General Government
January 1 Additions Deletions December 31
64,166 $ 64,166
1,493,720 $ 7,390 1,501,110
657,213 370 657,583
139,799 139,799
2,354,898 7,760 - 2,362,658
2,634,707 120,207 $ 86,593 2,668,321
1,951,194 145,900 11,929 2,085,165
4,585,901 266,107 98,522 4,753,486
Public Safety
Police
Fire
Total Public Safety
Public Works
Administration
Building Division
Engineering
Street Division
Equipment and Supplies
Division
Total Public Works
2,002,787 7,188 2,009,975
843,824 685 844,509
324,943 324,943
2,772,194 348,915 3,121,109
785,022 28,917 756,105
6,728,770 356,788 28,917 7,056,641
Culture and Recreation
Administration
Total Fixed Assets
5,223,111 3,501,234 3,485,023 5,239,322
$18,892,680 $4,131,889 $3,612,462 $19,412,107
VILLAGE OF GLENVIEW, ILLINOIS
GENERAL LONG-TERMDEBT ACCOUNT GROUP
SCHEDULE OF GENERAL LONG-TERMDEBT
DECEMBER 31, 1987
(See Following Page)
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VILLAGE OF GLENVIEW, ILLINOIS
ILLINOIS MUNICIPAL RETIREMENT FUND
REQUIRED SUPPLEMENTARY INFORMATION
ANALYSIS OF FUNDING PROGRESS
DECEMBER 31, 1987
(1) (4)
Net Assets Unfunded
Available (2) (3) Pension (5)
for Benefits Pension Percentage Benefit Annual
Fiscal (Lower of Cost Benefit Funded Obligation Covered
Year or Market) Obligation (1) * (2) (2) - (1) Payroll
(6)
Unfunded Pension
Benefit Obligation
as a Percentage
of Covered Payroll
(4) * (5)
1987 $2,930,396 $4,635,234 63.2% $1,704,838 $3,705,506 46.0%
(During the implementation transition period all information requ'ired is
presented for as many years as is available.)
Analysis of the dollar amounts of net assets available for benefits, pension
benefit obligation, and unfunded pension benefit obligation in isolation can be
misleading. Expressing the net assets available for benefits as a percentage of
the pension benefit obligation provides one indication of funding status on a
going-concern basis. Analysis of this percentage over time indicates whether the
system is becoming financially stronger or weaker. Generally, the greater this
percentage, the stronger the PERS. Trends in unfunded pension benefit obligation
and annual covered payroll are both affected by inflation. Expressing the unfunded
pension benefit obligation as a percentage of annual covered payroll approximately
adjusts for the effects of inflation and aids analysis of progress made in
accumulating sufficient assets to pay benefits when due. Generally, the smaller
this percentage, the stronger the PERS.
107
VILLAGE OF GLENVIEW, ILLINOIS
POLICE PENSION FUND
REQUIRED SUPPLEMENTARY INFORMATION
ANALYSIS OF FUNDING PROGRESS
DECEMBER 31, 1987
(1) (4)
Net Assets Unfunded
Available (2) (3) Pension (5)
for Benefits Pension Percentage Benefit Annual
Fiscal (Lower of Cost Benefit Funded Obligation Covered
Year or Market) Obligation (1) * (2) (2) - (1) Payroll
(6)
Unfunded Pension
Benefit Obligation
as a Percentage
of Covered Payroll
(4) * (5)
1979 $1,255,003 $3,670,432 34.2% $2,415,429 $ 846,752 350.6%
* 1979 1,401,099 2,629,018 53.3 1,227,919 624,764 196.5
1980 1,853,458 5,114,400 36.2 3,260,942 1,257,153 259.4
1981 2,232,582 5,482,956 40.7 3,250,374 1,269,927 255.9
1982 2,695,528 6,120,581 44.0 3,425,053 1,517 151 225.7
1983 2,930,685 7,065,367 41.5 4,134,682
1984 3,610,426 8,059,323 44.7 4,448,897
1985 4,789,889 8,398,321 57.0 3,608,432
1986 5,723,428 9,282,882 61.6 3,559,454
1987 6,939,963 9,893,322 70.1 2,953,359
1,618
1,686 606
1,806 170
1,888 303
1,930 511
230 255.5
263.7
199.7
188.5
152.9
(During the implementation transition period all information required is
presented for as many years as is available.)
* Fiscal Year 1979 reflects operations for eight months due to change in fiscal year
from April 30 to December 31.
Analysis of .the dollar amounts of net assets available for benefits, pension
benefit obligation, and unfunded pension benefit obligation in isolation can be
misleading. Expressing the net assets available for benefits as a percentage of
the pension benefit obligation provides one indication of funding status on a
going-concern basis. Analysis of this percentage over time indicates whether the
system is becoming financially stronger or weaker. Generally, the greater this
percentage, the stronger the PERS. Trends in unfunded pension benefit obligation
and annual covered payroll are both affected by inflation. Expressing the unfunded
pension benefit obligation as a percentage of annual covered payroll approximately
adjusts for the effects of inflation and aids analysis of progress made in
accumulating sufficient assets to pay benefits when due. Generally, the smaller
this percentage, the stronger the PERS.
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VILLAGE OF GLENVIEW, ILLINOIS
FIREMEN'S PENSION FUND
REQUIRED SUPPLEMENTARY INFORMATION
ANALYSIS OF FUNDING PROGRESS
DECEMBER 31, 1987
<1) <4)
Net Assets Unfunded
Available (2) (3) Pension (5)
for Benefits Pension Percentage Benefit Annual
Fiscal (Lower of Cost Benefit Funded Obligation Covered
Year or Market) Obligation (1) * (2) (2) - (1) Payroll
(6)
Unfunded Pension
Benefit Obligation
as a Percentage
of Covered Payroll
(4) . (5)
1979 $ 611,768 $1,339,459 45.7% $ 727,691 $ 687,897 105.8%
* 1979 990,085 2,098,445 47.1 1,108,360 471,510 235.0
1980 1,005,466 2,296,401 43.8 1,290,935 941,213 137.1
1981 1,531,988 3,161,060 48.4 1,629,072 987,432 164.9
1982 1,987,196 3,041,460 65.3 1,054 264 1,081,135 97.5
1983 2,297,281 3,648,777 62.9 1,351
1984 2,959,512 4,230,709 69.9 1,271
1985 3,524,611 4,646,789 75.8 1,122
1986 4,706,877 5,479,110 85.9 772
1987 5,825,693 6,057,751 96.1 232
496 1,155,110 117.0
197 1,188,723 106.9
178 1,235,342 90.8
233 1,276,426 60.5
058 1,352,775 17.1
(During the implementation transition period all information required is
presented for as many years as is available.)
* Fiscal Year 1979 reflects operations for eight months due to change in fiscal year
from April 30 to December 31.
Analysis of.the dollar amounts of net assets available for benefits, pension
benefit obligation, and unfunded pension benefit obligation in isolation can be
misleading. Expressing the net assets available for benefits as a percentage of
the pension benefit obligation provides one indication of funding status on a
going-concern basis. Analysis of this percentage over time indicates whether the
system is becoming financially stronger or weaker. Generally, the greater this
percentage, the stronger the PERS. Trends in unfunded pension benefit obligation
and annual covered payroll are both affected by inflation. Expressing the unfunded
pension benefit obligation as a percentage of annual covered payroll approximately
adjusts for the effects of inflation and aids analysis of progress made in
accumulating sufficient assets to pay benefits when due. Generally, the smaller
this percentage, the stronger the PERS.
Fi s c al
Year
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
VILLAGE OF GLENVIEW, ILLINOIS
ILLINOIS MUNICIPAL RETIREMENT FUND
REQUIRED SUPPLE~NTARY INFORMATION
ILEVENUES BY SOURCE
DECEMEER 31 , 1987
Revenues by Source
Employee Employer
Contributions Contributions
$ 89,673 $129,328
94,817 136,747
99,298 143
107,398 154
112,057 161
117,483 168.
125,629 181.
141,537 204.
152,811 245.
166,751 259.
Totals
$219,001
231 564
209
414
113
914
184
127
516
374
242 507
261 812
273 170
286. 397
306.813
345. 664
371.327
426. 125
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Fiscal
Year
1978
1979
1980
198i
1982
1983
1984
1985
1986
1987
Fiscal
Year
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
VILLAGE OF GLENVIEW, ILLINOIS
POLICE PENSION FUND
REQUIRED SUPPLEMENTARY INFORMATION
REVENUES BY SOURCE AND EXPENSES BY TYPE
DECEMBER 31, 1987
Employee
Contributions
Revenues by Source
Employer Investment
Contributions Income
Totals
$ 69,857
51,543
103,715
104,769
125,165
133,504
139,145
149,009
155,785
173,746
$ 98,136
178,667
250,310
329,621
334,404
441,505
495,023
577,336
530,381
474,199
$ 87,374
47,539
191 143
231 609
283 663
345 171
406 152
465 639
835 810
956 907
255,367
277,749
545,168
665,999
743,232
920,180
1,040,320
1,191,984
1,521,976
1,604,852
Benefits
Expenses by Type
Administrative Refunds
Expenses and Other
Totals
$ 71,818
80,869
122 078
146 947
196 623
238965
264 787
257364
290240
305476
$ 27,101
5,726
15,284
2,105
1,475
8O5
1,083
15,203
4,384
$ 10,366
11,312
98,919
91,235
127 804
162 231
198 728
240 440
265 592
258 447
305 443
321 172
110
Fiscal
Year
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
Fiscal
Year
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
VILLAGE OF GLENVIEW, ILLINOIS
FIREMEN'S PENSION FUND
REQUIRED SUPPLEMENTARY INFORMATION
REVENUES BY SOURCE AND EXPENSES BY TYPE
DECEMBER 31, 1987
Employee
Contributions
Revenues by Source
Employer Investment
Contributions Income
Totals
$ 53,312
36,542
72,944
76,526
83,788
89,521
92,126
95,739
98,923
111,604
$ 83,821
144,429
196,431
250,401
254,649
327,516
336,739
338,605
342,227
290,435
46,346
29,727
131 956
184 253
220 930
276 688
347 834
418 232
772 208
1,015,037
$ 183 479
210,698
401,331
511,180
559.367
693,725
776,699
852,576
1,213,358
1,417,076
Benefits
Expenses by Type
Administrative Refunds
Expenses and Other
Totals
1,763
22,191
32,501
30,932
30,931
30,270
62,397
65,564
93,919
94,748
$ 762
966
7,221
25
680
1,225
625
2,236
625
858
13,285
32,813
2,525
36,442
39,722
30,957
31,611
31,495
63,022
67,800
94,544
128,419
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112
VILLA(~ OF GLENVIEW, ILLINOIS
(/~BI/~D SCt~]YJLE OF CASH ABD INVESIMENI~
DECM~ER 31, 1987
Fund
Petty
Cash
Fiscal
Agent Pemend Certificates
Cash Deposits of Deposit Investments
Totals
1987 1986
$ 2,069,241 $ 1,639,605
Ceneral
Corporate
$1,895
$ 739,900 $1,327,446
Special Revenue
Library
Federal Revenue
Illinois Municipal
Ret ire~ent
Motor Fuel Tax
Cable TV
3OO
3OO
423,725
7,026
318,887
251,528 219,850
60,063
1,061,229 219,850
424,025 574,638
7,026 275,300
318,887 419,269
471,378 565,036
60,063
1,281,379 1,834,243
654,945 361,862
144,525
793,121 729,494
1,465,105 1,178,084
2,258,226 2,052,103
Debt Service
Debt Service
$200,000
454,945
Capital Projects
Public Works Garage
Capital Equipment
Replacement
Capital Projects
22,709 770,412
834,435 630,670
857,144 1,401,082
Enterprise
Waterworks - East
Water%orks - Wast
Sewerage
Co, muter Parking lot
(242,099)
493,563
133,380
302,139
686,983
78,530
(242,099) (457,255)
493,563 473,833
133,380 75,708
302,139 301,844
686,983 394,130
78,530 90,397
Internal Service
Municipal Equipment
Repair
Trust and Agency
Escrow Deposit
Deposit
Police Pension
Fire~en's Pension
(79,134) 3,972,068 3,892,934 3,135,627
35,010 35,010 26,842
151,294 1,439,808 $ 6,103,497 7,694,599 6,331,943
318,700 1,041,780 5,231,279 6,591,759 5,417,834
425,870 6,453,656 11,334,776 ..~8,214,302 14,912,246
$2,195 $200,000 $4,304,601 $9,402,034 $11,334,776 $25 243,606 $21,284,586
VILLAGE OF GLENVIEW, ILLINOIS
SCHEDULE OF INSURANCE IN FORCE
DECEMBER 31, 1987
Description of Coverage
Workmen's Compensation
Builder's Risk
Glenview Public Library
Fire
Public Official Liability
Umbrella Liability
Excess Umbrella Liability
Public Employees Blanket Bond
of Coverage
Statutory Coverage
$ 100,000
$3,050,000
$ 82,000
$1,000,000
$5,000,000
$1,000,000
$ 250,000
113
Insuring Company
Opt imum
INA
Continental National -
Ben Franklin
International
Granite State
Home Insurance
Kemper
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VILLAGE OF GLENVIEW, ILLINOIS
LONG-TERM DEBT REQUIREMENTS
POLICE ADMINISTRATION BUILDING BOND SERIES OF 1972
DECEMBER 31, 1987
Date of Issue
Date of Maturity
Authorized Issue
Actual Issue
Denomination of Bonds
Interest Rate
Interest Dates
Principal Maturity Date
Payable at
December 1, 1972
January 1, 1990
$1,400,000
$1,400,000
$5,000
Bonds 1-280 - 4-1/2%
July 1 and January 1
January 1
Northern Trust
CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Tax
Fiscal Levy Bond Tax Levy
Year Year Numbers Principal Interest Total July 1
1988 1987 241-260 $100,000 $ 9,650 $109,650 1988
1989 1988 261-280 100,000 4,900 104,900 1989
$200,000 $14,550 $214,550
Coupons Due on
Amount Jan. 1 Amount
$4,825 1989 $4,825
2,450 1990 2,450
$7,275 $7,275
115 ,
VILLAGE OF GLENVIEW, ILLINOIS
LONG-TERM DEBT REQUIREMENTS
MUNICIPAL BUILDING BOND SERIES OF 1979
DECEMBER 31, 1987
Date of Issue
Date of Maturity
Authorized Issue
Actual Issue
Denomination of Bonds
Interest Rates
Interest Dates
Principal Maturity Date
Payable at
April 1, 1979
January 1, 1991
$950,000
$950,000
1 - 190 - $5,000
Bonds 1 - 70 - 5.30%
Bonds 71 - 160 - 5.40%
Bonds 161 - 190 - 5.50%
July 1 and January 1
January 1
Amalgamated Trust and Savings Bank
Chicago, Illinois
CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Tax
Fiscal Levy Bond
Year Year Numbers
1988 1987 111-130
1989 1988 131-160
1990 1989 161-190
Tax Levy
Principal Interest Total July 1
$100,000 $21,750 $121,750 1988
150~000 16,350 166,350 1989
150,000 8,250 158,250 1990
Coupons Due on
Amount Jan. 1 Amount
$10,875 1989 $10,875
8,175 1990 8,175
4,125 1991 4,125
$400,000 $46,350 $446,350 $23,175 $23,175
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Date of Issue
Date of Maturity
Authorized Issue
Denomination of ~onds
Interest Rates
Interest Dates
Principal Maturity Date
Payable at
Fiscal Levy ~ond
Year Year Numbers
1988 1987 81-125
1989 1988 126-180
1990 1989 181-235
1991 1990 236-290
1992 1991 291-345
1993 1992 346-400
1994 1993 401-455
1995 1994 456-510
1996 1995 511-565
1997 1996 566-620
116
VIIiA6E OF GLENVIEW, ILLINOIS
LIBRARY B0~) SER]~S OF 1984
~ 31, 1987
Deceuber 1, 1997
$3,100,000
$5,000
1986-1988 - 9.90%
1989 - 8.50%
1990 - 8.60%
1991 - 8.90%
1992 - 9.10%
June 1 and December 1
December 1
Citibank
1993- 9.25%
1994- 9.50%
1995 - 9.75%
1996- 9.90
1997- 10.00%
Principal Interest Total Juee 1 ~a~tmt Dec. 1
Amo~mt
$2,700,000 $1,433,025 $4,133,025 $716,511 $716,514
225,000 $ 251,900 $ 476,900 1988 $125,950 1988 $125,950
275,000 229,625 504,625 1989 114,812 1989 114,813
275,000 206,250 481,250 1990 103,125 1990 103,125
275,000 182,600 457,600 1991 91,300 1991 91,300
275,000 158,125 433,125 1992 79,062 1992 79,063
275,000 133,100 408,100 1993 66,550 1993 66,550
275,000 107,662 382,662 1994 53,831 1994 53,831
275,000 81,538 356,538 1995 40,769 1995 40,769
275,000 54,725 329,725 1996 27,362 1996 27,363
275,000 27,500 302,500 1997 13,750 1997 13,750
117
VILLAGE OF GLENVIEW, ILLINOIS
LONG-TERM DEBT REQUIREMENTS
LIBRARY BOND SERIES OF 1985
DECEMBER 31, 1987
Date of Issue
Date of Maturity
Authorized Issue
Actual Issue
Denomination of Bonds
Interest Rate
Interest Dates
Principal Maturity Date
Payable at
December 23, 1985
December 23, 1988
$150,000
$150,000
$ 50,000
6.125%
June 23 and December 23
December 23
Village of Glenview, Illinois
CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Tax
Fiscal Levy Bond
Year Year Number
Tax Levy
Principal Interest
1988 1987 3
Coupons Due on
Total June 23 Amount Dec. 23 Amount
$50,000 $3,062 $53,062 1988 $1,531 1988 $1,531
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VILLAGE OF GLENVIEW, ILLINOIS
LONG-TERM DEBT REQUIREMENTS
SPECIAL SERVICE AREA #1 BOND SERIES OF 1980
DECEMBER 31, 1987
Date of Issue
Date of Maturity
Authorized Issue
Denomination of Bonds
Interest Rate
Interest Dates
Principal Maturity Date
Payable at
July 31, 1980
July 31, 1990
$70,000
$7,000
6.00%
January 31 and July 31
July 31
Glenview State Bank
Tax
Levy
Year
1987
1988
1989
CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Bond Tax Levy Coupons Due on
Number Principal Interest Total July 31 Amount
8 $ 7,000 $1,050 $ 8,050 1988 $ 630
9 7,000 630 7,630 1989 420
10 7,000 210 7,210 1990 210
$21,000 $1,890 $22,890 $1,260
118
Jan. 31 Amount
1989 $420
1990 210
$630
VILLAGE OF GLENVIEW, ILLINOIS
LONG-TERM DEBT REQUIREMENTS
SPECIAL SERVICE AREA #2 BOND SERIES OF 1981
DECEMBER 31, 1987
Date of Issue
Date of Maturity
Authorized Issue
Interest Rate
Principal and Interest Dates
Payable at
February 20, 1981
February 20, 1996
$38,000
8.5%
February 20 and August 20
Glenview State Bank
CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Fiscal Levy Tax Levy
Year Year Principal Interest Total
1988 1987 $ 2,280 $ 2,250 $ 4,530
1989 1988 2,478 2,052 4~530
1990 1989 2,692 1,837 4,529
1991 1990 2,926 1,603 4,529
1992 1991 3,180 1,349 4,529
1993 1992 3,457 1,072 4,529
1994 1993 3,757 773 4,530
1995 1994 4,083 446 4,529
1996 1995 2,172 93 2,265
$27,025 $11,475 $38,500
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VILLAGE OF GLENVIEW, ILLINOIS
LONG-TERM DEBT REQUIREMENTS
SPECIAL SERVICE AREA #3 BOND SERIES OF 1981
DECEMBER 31, 1987
Date of Issue
Date of Maturity
Authorized Issue
Interest Rate
Principal and Interest Dates
Payable at
February 20, 1981
February 20, 1996
$25,000
8.5%
February 20 and August 20
Glenview State Bank
CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Tax
Fiscal Levy Tax Levy
Year Year Principal Interest Total
1988 1987 $ 1,500 $1,480 $ 2,980
1989 1988 1,630 1,350 2,980
1990 1989 1,772 1,208 2,980
1991 1990 1,925 1,055 2,980
1992 1991 2,093 886 2,979
1993 1992 2,274 706 2,980
1994 1993 2,472 508 2,980
1995 1994 2,686 294 2,980
1996 1995 1,429 61 1,490
$17,781 $7,548 $25,329
120
VILLAGE OF GLENVIEW, ILLINOIS
LONG-TERM DEBT REQUIREMENTS
SPECIAL SERVICE AREA #4 BOND SERIES OF 1982
DECEMBER 31, 1987
Date of Issue
Date of Maturity
Authorized Issue
Interest Rate
Principal and Interest Dates
Payable at
November 15, 1982
November 15, 1993
$90,000
9%
May 15 and November 15
Glenview State Bank
CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Tax
Fiscal Levy Tax Levy
Year Year Principal Interest Total
1988 1987 $ 8,343 $ 5,495 $13,838
1989 1988 9,111 4,727 13,838
1990 1989 9,949 3,888 13,837
1991 1990 10,865 2,973 13,838
1992 1991 11,865 1,973 13,838
1993 1992 12,957 881 13,838
$63,090 $19,937 $83,027
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VILLAGE OF GLENVIEW, ILLINOIS
LONG-TERM DEBT REQUIREMENTS
SPECIAL SERVICE AREA #5 BOND SERIES OF 1985
DECEMBER 31, 1987
Date of Issue
Date of Maturity
Authorized Issue
Interest Rate
Principal and Interest Dates
Payable at
April 15, 1985
April 15, 2001
$48,000
9.3%
April 15 and October 15
Glenview State Bank
CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Tax
Fiscal Levy Tax Levy
Year Year Principal Interest
Total
1988 1987 $ 1,799 $ 4,199 $ 5,998
1989 1988 1,970 4,028 5,998
1990 1989 2,158 3,840 5,998
1991 1990 2,363 3,635 5,998
1992 1991 2,588 3,410 5,998
1993 1992 2,834 3,164 5,998
1994 1993 3,104 2,894 5,998
1995 1994 3,399 2,599 5,998
1996 1995 3,723 2,275 5,998
1997 1996 4,077 1,921 5,998
1998 1997 4,465 1,533 5,998
1999 1998 4,890 1,108 5,998
2000 1999 5,355 643 5,998
2001 2000 2,865 133 2,998
$45,590 $35,382 $80,972
* Funds to be provided by sources other than a tax levy.
122
VILLA~ OF GLENVIZ~, ILLINOIS
LONG-2~M ~BT RE(~iRM~NiM
CORPORATE PURPOSE BO~) SERIES OF 1977
IECEI~ER 31, 1987
Bate of Issue
Bate of Maturity
Authorized Issue
~tual Issue
Denomination of Bonds
Interest Rates
Interest Bates
Payable at
Principal Maturity Bate
July 1, 1977
January 1, 1998
$4,525,000
$4,525,000
$5,000
Bonds I to 235-6.0%
Bonds 236 to 32G-4.6%
Bonds 321 to 365-4.7%
Bonds 366 to 415-4.8%
Bonds 416 to 465-4.9%
Bonds 466 to 905-5.0%
January 1 and July 1
kmrican National Bank
& Trust Comply of (hicago
January 1
Ended Bond
Dec. 31 Numbers
Coupons Due on
Principal Interest Total July 1 Anount Jam. 1 A~ount
1988 321-365 $ 225
1989 366-415 250
1990 416-465 250
1991 466-520 275
1992 521-575 275
1993 576-635 300
1994 636-695 300
1995 696-760 325
1996 761-830 350
1997 831-~.5 375
000 $144,825 $ 369,825 1988 $ 72,412 1989 $ 72,413
000 134,250 384,250 1989 67,125 1990 67,125
000 122,250 372,250 1990 61,125 1991 61,125
000 110,000 385,000 1991 55,000 1992 55,000
000 96,250 371,250 1992 48,125 1993 48,125
000 82,500 382,500 1993 41,250 1994 41,250
000 67,500 367,500 1994 33,750 1995 33,750
000 52,500 377,500 1995 26,250 1996 26,250
000 36,250 386,250 1996 18,125 1997 18,125
000 18,750 393,750 1997 9,375 1998 9,375
$2,925,000 $865,075 $3,790,075 $432,537 $432,538
~bte: ~e principal an~ interest will be paid by Water~rks Fand - West.
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V"~A~M OF GI~2~VIEW, ILLINOIS
LONG-'~ DEBT REQU~AV~NTS
CORPORA~ PURI~SE I~ SEP~S OF 1979
~ 31, 1987
Date of Issue
Date of Maturity
Authorized Issue
~tual Issue
Denomination of Bonds
Interest Rates
Interest Dates
Payable at
Principal Maturity
Date
October 1, 1979
January 1, 2000
$5,700,000
$5,700,000
$5,000
Bonds 1 to 400-7.5%
Bonds 401 to 455-6.75%
Bonds 456 to 645-6.5%
~onds 646 to 790-6.6%
Bonds 791 to 955-6.7%
Bonds 956 to 1140-6.0%
January 1 and July 1
Glenview State Bank
January 1
Year
Ended Bond
Dec. 31 Numbers
T~x Levy Coupons Ilm on
Principal Interest Total July 1 A~ont Jan.
1988 296-345
1989 346-400
1990 401-455
1991 456-515
1992 516-580
1993 581-645
1994 646-715
1995 716-790
1996 791-870
1997 871-955
1998 956-1 ~O45
1999 1046-1140
$ 250
275
275
3OO
325
000 $ 278,313
000 259,563
000 238,938
000 220,375
000 200,875
325000 179,750
350 000 158,625
375 000 135,525
400 000 110,775
425,000 83,975
450,000 55,500
475,000 28,500
$ 528,313 1988 $139,157 1989 $139,156
534,563 1989 129,781 1990 129,782
513,938 1990 119,469 1991 119,469
520,375 1991 110,187 1992 110,188
525,875 1992 100,437 1993 100,438
504,750 1993 89,875 1994 89,875
508,625 1994 79,312 1995 79,313
510,525 1995 67,762 1996 67,763
510,775 1996 55,387 1997 55,388
508,975 1997 41,987 1998 41,988
505,500 1998 27,750 1999 27,750
503,500 1999 14,250 2000 14,250
$4,225,000 $1,950,714 $6,175,714 $975,354 $975,360
bbte: 2he principal and interest will be paid by Water~rks Fund -h~st.
Date of Issue
Date of Maturity
Amount of Contract
Interest Rates
Interest Date
Payable to
VILLAGE OF GLENVIEW, ILLINOIS
LONG-TERM DEBT REQUIREMENTS
CORPORATE PURPOSE BOND SERIES OF 1987
DECEMBER 31, 1987
June 15, 1987
June 15, 1992
$300,000
5.95%
December 15 and June 15
Glenview State Bank
CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Year
Ended
December 31
Requirements
Principal Interest Total
1988 $ 54,761 $15,489 $ 70,250
1989 58,067 12,182 70,249
1990 61,573 8,675 70,248
1991 65,291 4,957 70,248
1992 34,108 1,015 35,123
$273,800 $42,318 $316,118
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VILLAGE OF GLENVIEW, ILLINOIS
PROPERTY TAX ASSESSED VALUATIONS, RATES, EXTENSIONS AND COLLECTIONS
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LAST TEN FISCAL YEARS
DECEMBER 31, 1987
(See Following Page)
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VILLAGE OF GLENVIEW, ILLINOIS
SPECIAL ASSESSMENT COLLECTIONS
LAST TEN FISCAL YEARS
DECEMBER 31, 1987
Fiscal
Year
1979
* 1979
1980
1981
1982
1983
1984
1985
1986
1987
131
Current Total
Assessments Outstand lng
Collected Assessments
$12,492 $19,494
3,649 15,845
2,924 12,921
3,649 9,272
9,272
* Fiscal Year i979 reflects operations for eight months due to change in fiscal year
from April 30 to December 31.
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VILLAGE OF GLENVIEW~ ILLINOIS
SCHEDULE OF LEGAL DEBT MARGIN
DECEMBER 31, 1987
There is no legal debt limit for home rule municipalities in Illinois.
Article VII, Section 6(k) of the 1970 Illinois Constitution governs computation of
of the Legal Debt Margin.
"The General Assembly may limit by law the amount and require refer-
endum approval of debt to be incurred by home rule municipalities,
payable from ad valorem property tax receipts, only in excess of the
following percentages of the assessed value of its taxable property...
(2) if its population is more than 25,000 and less than 500,000 an
aggregate of one per cent; ... indebtedness which is outstanding on
the effective date (July 1, 1971) of this constitution or which is
thereafter approved by referendum...shall not be included in the
foregoing percentage amounts."
To date the General Assembly has set no limits for home rule municipalities.
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VILLAGE OF GLENVIEW, ILLINOIS
SCHEDULE OF REVENUE BOND COVERAGE
LAST TEN FISCAL YEARS
DECEMBER 31, 1987
WATERWORKS FUND - EAST
(1)
Direct Net Rmvenue (2)
Fiscal Operating Operating Available for Debt Service ReRuirements
Year Revenues Expenses Debt Service Principal Interest Total Coverage
1979 $1,156,814 $1,043,266 $ 113,548 $ 90,000 $34,370 $124,370 .85
* 1979 776~744 798,449 (21,705) 40,000 58,722 98,722
1980 1,603,601 1,357,730 245,871 90,000 30,093 120,093 2.04
1981 1,123,909 1,023,462 100,447 95,000 26,590 121,590 .83
1982 1,272,393 1,523,555 (251,162) 105,000 22,735 127,735
1983 1,459,941 1,418,467 41,474 105,000 18,565 123,565 .33
1984 1,710,235 1,514,460 195,775 350,000 31,854 381,854 .52
1985 1,995,056 1,586,1~2 408,924 50,000 2,450 52,450 7.80
1986 1,965,257 1,421,406 543,851
1987 2,116,411 1,607,156 509,255 15,720 5,355 21,075 24.16
WATERWOP, KS FUND - WEST
(1)
Direct Net Revenue (3) (2)
Fiscal Operating Operating Available for Debt Service Requirements
Year Revenues Expenses Debt Service Principal Interest Total Coverage
1979 $I,273,405 $ 498,598 $ 774,807 $150~000 $234,875 $384,875 2.01
* 1979 961,991 597,372 364,619 150,000 225,875 375,875 .97
1980 1,790,601 927,772 862,829 250,000 614,812 864,812 1.00
1981 1,795,742 947,367 848,375 325,000 612,088 937,088 1.0I
1982 1,715,495 1,135,978 579,517 350,000 576,180 926,180 .63
1983 1,920,972 1,036,293 884,679 350,000 552,562 902,562 .98
1984 2,056,573 1,028,158 1,028,415 375,000 529,578 904,578 1.14
1985 2,207,923 1,032,363 1,175,560 400,000 504,068 904,068 1.30
1986 2,260,133 1,154,812 1,105,321 425,000 477,055 902,055 1.23
1987 2,533,231 1,310,062 1,223,169 460,480 454,537 915,017 1.34
(1) Operating revenues minus direct operating expenses.
(2) Net revenue available for debt service divided by total debt requirements.
(3) The Village has booked Gemeral Obligation Issues on the Waterworks Fund West Balance Sheet. These ~ond$
have been included in the schedule to illustrate coverage.
* Fiscal Year 1979 reflects operations for eight months due to change in fiscal year from April 30 to December 31.
VILLAGE OF GLENVIEW, ILLINOIS
DEMOGRAPHIC STATISTICS
LAST TEN FISCAL YEARS
DECEMBER 31, 1987
Education
Level In
Per Years of School
Fiscal Capita Median Formal Enroll- Unemploy-
Year Population Income Age Schooling ment ment
1979 31,455 $11,387 30.7 15.1 3,269 3.6%
* 1979 31,756 12,298 31.5 15.2 3,144 3.3%
1980 32,060 13,832 33.5 15.3 3,003 2.5%
1981 32,200 14,113 33.5 15.3 2,916 5.5%
1982 33,131 14,785 33.1 15.1 2,797 4.9%
1983 33,131 15,450 33.3 15.3 2,762 5.1%
1984 34,996 15,856 33.8 15.6 2,751 6.0%
1985 35,525 18,632 33.8 15.6 2,666 5.4%
1986 36,240 18,741 33.6 15.7 2,701 5.3%
1987 36,375 19,490 33.9 15.9 2,794 4.7%
(1) (1) (1) (1) (2) (3)
Data Sources
(1) U.S. Department of Commerce, Bureau of the Census, 1980 date based on the
actual count; other years estimated by the Glenview Planning Department.
(2) Glenview School District #34 actual count, as of April 1986.
(3) Illinois Department of Labor, Rmsearch Division. Figures for 1975 to 1982
are actual; other years estimated from statewide averages.
* Fiscal Year %979 reflects operations for eight months due to change in fiscal year
from April 30 to December 31.
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140
VILLAGE OF GLENVIEW, ILLINOIS
MISCELLANEOUS STATISTICS
DECEMBER 31, 1987
Date of Incorporation
June 20, 1899
Form of Government
Council-Manager
Geographical Location
20 Miles North of Chicago
Area
10.9 Square Miles
Population
1950
1960
1963
1970
1975
1980
1984
1985
1986 (1)
1987 (1)
6,142
18,132
22,364
24,880
30,552
32,060
34,996
35,525
36,240
36,375
Number of Total Housing Units (1980 Census)
Number of Total Housing Units (1985 Planning Department Estimate)
Median Value Owner occupied Noncondominium Housing Units
10,997
11,719
$111,900
Distribution of Owner - Occupied
Noncondominium Housing Units by Value
Unit Value by Range (2)
Unit Distribution
Number Percent
Less than $ 10,000
$ 10,000 to $ 14,999
$ 15,000 to $ 19,999
$ 20,000 to $ 24,999
$ 25,000 to $ 29,999
$ 30,000 to $ 34,999
$ 35,000 to $ 39,999
$ 40,000 to $ 49,999
$ 50,000 to $ 79,999
$ 80,000 to $ 99,999
$100,000 to $149,000
$150,000 to $199,999
$200,000 or more
3 .04%
7 .10
4 .06
1 .01
7 .10
9 .12
14 .19
65 .90
1,232 16.96
1,686 23.24
2,525 34.80
1,149 15.84
554 7.64
7,256 100.00%
(1) Estimated by Village of Glenview Planning Department
(2) The above information from the 1980 census.
VILLAGE OF GLENVIEW, ILLINOIS
MISCELLANEOUS STATISTICS (CONT.)
DECEMBER 31, 1987
Fire Protection
Number of Firemen
Number of Stations
Number of Hydrants
I. S. O. Rating
Police Protection
Number of Policemen
Number of School Crossing Guards
Number of Stations
Library Services
Number of Libraries
Number of Books
Number of Records
Number of Audio Cassettes
Number of Slides
Number of Video Tapes
Number of Compact Discs
Number of Registered Borrowers
1987 Book Circulation
Recreation Facilities
Numbers of Parks and Playgrounds
Park Area in Acres - Park District Owned
Park Area in Acres - Park District Leased
Municipal Parking Facilities
Number of Parking Spaces
Number of sewer customers served during
fiscal year
Total Number of metered water customers at December 31, 1987
Number of unmetered water customers at December 31, 1987
Gallons of water purchased during fiscal year
Gallons of water billed during fiscal year
Water Storage Cap~city
Ground Storage
Elevated Storage
40
1
1,320
Class 3
141
55
19
1
1
150,764
6,261
2,574
6,311
1,483
187
27,374
405,617
Waterworks
Fund - East
Waterworks
Fund - West
24
34O
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6,675 1,266
7,264 5,025
None
1,156,920,000
990,377,000
None
792,120,000
765,582,000
8,500,000
1,000,000
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VILLAGE OF GLENVIEW, ILLINOIS
MUNICIPAL SERVICES AND FACILITIES
DECEMBER 31, 1987
Number of Full Time Employees (on December 31, 1987)
Miles of Streets (Maintained by Glenview)
Miles of Streets (Maintained by Cook Co. & State of Illinois)
Miles of Alleys
Miles of Sewers (Sanitary Sewer)
Miles of Sewers (Storm Sewer)
Number of Village owned Street Lights
Building Activity
Number of Permits Issued in 1987
Value of Construction Authorized in 1987
195
86
22
2.2
85
74
66
1,142
$89,112,033
142
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VILLAGE OF GLENVIEW, ILLINOIS
SALARIES AND SURETY BONDS
OF PRINCIPAL OFFICIALS
DECEMBER 31, 1987
Village President
Village Trustees
Village Treasurer
Village Manager
Village Clerk
Finance Director
Purchasing Agent
Assistant Finance Director
Assistant Village Manager
Assistant to the Village Manager
Police Chief
Deputy Police Chief
Police Commander
Fire Marshal
Administrative Assistant to
the Fire Marshal
Fire Captain
Director of Development
Assistant to Director of Development
Village Engineer
Public Works Superintendent
Director of Building and Zoning
Water Distribution Superintendent
Head Librarian
Public Works Director
Salary
$ 1,200
300
76,541
90O
53,900
34,320
35,304
42,500
28,752
52,000
46,008
42,708
48,500
41,592
41,064
48,700
42,696
46,508
43,236
43,872
43,236
49,955
45,000
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Amount of
Surety Bond
$250 000
250 000
250 000
250 000
250 000
250 000
250 000
25O 000
25OOOO
25OOOO
250000
250000
250.000
250,000
250,000
250,000
250,000
250,000
250,000
250,000
250 000
250.000
250 000
250 000