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Home My Public Portal About1993 Comprehensive Annual Financial Report COMPREHENSIV ANNUAL FINANCIAL REPORT FOR THF FISCAl YF:^R F~DFD DECFMBFR 31, 1 PRFPARF:D BY DENNIS M. LAUER DIRECTOR OF FINANCE VILLAGE OF GLENVIEW ILLINOIS VILLAGE OF GLENVIEW, ILLINOIS Comprehensive Annual Financial Report Table of Contents December 31, 1993 PAGE INTRODUCTORY SECTION Principal Officials i Organization Chart ii Village Manager's Letter of Transmittal iii - iv Director of Finance's Letter of Transmittal v - xii Certificate of Achievement for Excellence in Financial Reporting xiii FINANCIAL SECTION REPORT OF INDEPENDENT AUDITORS 1 - 2 GENERAL PURPOSE FINANCIAL STATEMENTS All Fund Types and Account Groups and Discretely Presented Component Unit Combined Balance Sheet 3 All Governmental and Fiduciary (Expendable Trust) Fy. nd Types and Discretely Presented Component Unit Combined Statement of Revenues, Expenditures, and Changes in Fund Balances 4 General, Special Revenue, and Debt Service Ftmd Types and Discretely Presented Component Unit Combined Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual 5 All Proprietary and Fiduciary (Pension Trust) Fund Types Combined Statement of Revenues, Expenses, and Changes in Retained Earnings/Fund Balances 6 All Proprietary Fund Types Combined Statement of Cash Flows 7 Notes to the Financial Statements 8 - 45 VILLAGE OF GLENVIEW, ILLINOIS Comprehensive Annual Financial Report Table of Contents December 31, 1993 PAGE FINANCIAL SECTION (CONT.) COMBINING, INDMDUAL FUND, AND ACCOUNT GROUP STATEMENTS AND SCHEDULES GOVERNMENTAL FUND TYPES GENERAL FUND Corporate Fund Financial Statements Balance Sheet 46 Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 47 Supplemental Schedules Schedule of Revenues - Budget and Actual 48 - 49 Schedule of Expenditures - Budget and Actual 50 - 63 SPECIAL REVENUE FUNDS All Funds Financial Statements Combining Balance Sheet 64 Combirdng Statement of Revenues, Expenditures, and Changes in Fund Balances 65 Illinois Municipal Retirement Fund Financial Statements Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 66 Motor Fuel Tax Fund Financial Statements Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 67 VILLAGE OF GLENVIEW, ILLINOIS Comprehensive Annual Financial Report Table of Contents December 31, 1993 PAGE 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 68 Supplemental Schedules Schedule of Expenditures - Budget and Actual 69 Refuse and Recycling Fund Financial Statements Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 70 911 Communications Fund Financial Statements Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 71 DEBT SERVICE FUNDS All Funds Financial Statements Combining Balance Sheet 72 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 73 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual 74 VILLAGE OF GLENVIEW, ILLINOIS Comprehensive Annual Financial Report Table of Contents December 31, 1993 PAGE FINANCIAL SECTION (CONT.) GOVERNMENTAL FUND TYPES (CONT.) CAPITAL PROJECTS FUNDS All Funds Financial Statements Combining Balance Sheet 75 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 76 PROPRIETARY FUND TYPES ENTERPRISE FUNDS All Funds Financial Statements Combining Balance Sheet 77 Combining Statement of Revenues, Expenses, and Changes in Retained Earnings 78 Combining Schedule of Changes in Contributed Capital 79 Combining Statement of Cash Flows 80 Waterworks Finandal Statements Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual 81 Supplemental Schedules Schedule of Operating Expenses - Budget and Actual 82 - 84 Schedule of Fixed Assets and Depreciation 85 VILLAGE OF GLENVIEW, ILLINOIS Comprehensive Annual Financial Report Table of Contents December 31, 1993 PAGE FINANCIAL SECTION (CONT.) PROPRIETARY FUND TYPES (CONT.) ENTERPRISE FUNDS (CONT.) Wholesale Water Fund Financial Statements Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual 86 Supplemental Schedules Schedule of Operating Expenses - Budget and Actual 87 Schedule of Fixed Assets and Depreciation 88 Sewerage Fund Financial Statements Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual 89 Supplemental Schedules Schedule of Operating Expenses - Budget and Actual 90 Schedule of Fixed Assets and Depreciation 91 Commuter Parking Lot Fund Financial Statements Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual 92 Supplemental Schedules Schedule of Operating Expenses - Budget and Actual 93 Schedule of Fixed Assets and Depreciation 94 VILLAGE OF GLENVIEW, ILLINOIS Comprehensive Annual Financial Report Table of Contents December 31, 1993 PAGE FINANCIAL SECTION (CONT.) PROPRIETARY FUND TYPES (CONT.) INTERNAL SERVICE FUNDS All Funds Financial Statements Combining Balance Sheet 95 Combining Statement of Revenues, Expenses, and Changes in Retained Earnings 96 Combining Statement of Cash Flows 97 Municipal Equipment Repair Fund Financial Statements Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual 98 Supplemental Schedules Schedule of Operating Expenses - Budget and Actual 99 Insurance Fund Financial Statements Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual 100 FIDUCIARY FUND TYPES TRUST AND AGENCY FUNDS All Funds Financial Statements Combining Balance Sheet 101 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances (Expendable Trust Funds) 102 Combining Statement of Revenues, Expenses, and Changes in Fund Balances (Pension Trust Funds) 103 VILLAGE OF GLENVIEW, ILLINOIS Comprehensive Annual Financial Report Table of Contents December 31, 1993 PAGE FINANCIAL SECTION (CONT.) FIDUCIARY FUND TYPES (CONT.) TRUST AND AGENCY FUNDS (CONT.) Pension Trust Funds Police Pension Fund Financial Statements Statement of Revenues, Expenses, and Changes in Fund Balance - Budget and Actual 104 Firefighters' Pension Fund Financial Statements Statement of Revenues, Expenses, and Changes in Fund Balance - Budget and Actual 105 Agency Fund Combining Statement of Changes in Assets and Liabilities 106 ACCOUNT GROUPS GENERAL FIXED ASSETS ACCOUNT GROUP Supplemental Schedules Schedule of General Fixed Assets - by Source 107 Schedule of General Fixed Assets - by Function and Activity 108 Schedule of Changes in General Fixed Assets - by Function and Activity 109 GENERAL LONG-TERM DEBT ACCOUNT GROUP Supplemental Schedules Schedule of General Long-Term Debt 110 VILLAGE OF GLENVIEW, ILLINOIS Comprehensive Annual Financial Report Table of Contents December 31, 1993 PAGE FINANCIAL SECTION (CONT.) COMPONENT UNIT SCHEDULES Library Fund Financial Statements Combining Balance Sheet 111 Combining Statement of Revenues, Expenditures, and Changes in Fund Balance 112 Supplemental Schedules Schedule of Operating Expenditures - Budget and Actual 113 Schedule of General Fixed Assets 114 SUPPLEMENTAL DATA Required Supplementary Information Analysis of Funding Progress Illinois Municipal Retirement Fund 115 Police Pension Fund 116 Firefighters' Pension Fund 117 Revenues by Source Illinois Municipal Retirement Fund 118 Revenues by Source and Expenses by Type Police Pension Fund 119 Firefighters' Pension Fund 120 Combined Schedule of Cash and Investments 121 Schedule of Insurance in Force 122 Long-Term Debt Requirements General Obligation Library Bond Series of 1984 123 Corporate Purpose Bond Series of 1977 124 Corporate Purpose Bond Series of 1989 125 Corporate Purpose Bond Series of 1990 126 Corporate Purpose Bond Series of 1991 127 Corporate Purpose Bond Series of 1992 128 Corporate Purpose Bond Series of 1993 129 VILLAGE OF GLENVIEW, ILLINOIS Comprehensive Annual Financial Report Table of Contents December 31, 1993 PAGE STATISTICAL SECTION General Governmental Revenues by Source - Last Ten Fiscal Years 130 General Governmental Expenditures by Function - Last Ten Fiscal Years 131 Property Tax Assessed Valuations, Rates, Extensions, and Collections - Last Ten Fiscal Years 132 Assessed and Estimated Actual Value of Taxable Property - Last Ten Fiscal Years 133 Property Tax Rates - Direct and Overlapping Governments - Last Ten Fiscal Years 134 - 135 Ratio of Net General Obligation Bonded Debt to Assessed Value and Net General Obligation Bonded Debt Per Capita - Last Ten Fiscal Years 136 Schedule of Direct and Overlapping Bonded Debt 137 Schedule of Legal Debt Margin 138 Ratio of Annual Debt Service Expenditures for General Obligation Debt to Total General Govemmental Expenditures - Last Ten Fiscal Years 139 Schedule of Revenue Bond Coverage - Last Ten Fiscal Years 140 Demographic Statistics - Last Ten Fiscal Years 141 Construction, Building Permits, and Bank Deposits - Last Ten Fiscal years ~_42 Principal Taxpayers 143 Miscellaneous Statistics 144 - 146 Ten Wealthiest Illinois Communities - 1980 Census 147 Salaries and Surety Bonds of Principal Officials 148 Major Corporate Revenue Sources 149 I I I I I I I I ! I Introductory Section ! I I I I I I I I VILLAGE OF GLENVIEW ILLINOIS DECEMBER 31, 1993 LEGISLATIVE VILLAGE BOARD OF TRUSTEES Bi Nancy L. Firfer, President Emll Ulstrup John W. Patton, Jr. l Kent B. Fuller Charles K. Esler William L. Stickney Joyce E. Kustra Paul T. McCarthy I I Clerk/Treasurer II EXECUTIVE Paul T. McCarthy i i Village Manager II FINANCE DEPARTMENT Dennis M. Lauer Mary L. Reibel ,:, ,, II ~ Aasiata~ Director of Finance .~ · VILLAGE OF GLENVIEW ORGANIZATIONAL CHART ELECTORATE VILLAGE I~OARI~ 1 Village President 6 Truste~ (4 Year Terms) m I BOARDS AND COMMISSIONS APPOINTED BY THE PRESIDENT AND BOARD OF TRUSTEES PLAN COMMISSION APPEARANCE COMMISSION SENIOR CITIZEN COMMISSION BUILDING COMMISSION POLICE AND FIRE COMMISSION POLICE PENSION BOARD FIRE PENSION BOARD ZONING BOARD OF APPEALS ELECTRICAL COMMISSION FORESTRY COMMISSION LEnVIEIU TELEPHONE 1225 WAUKEGAN ROAD 708-724-17~ GLEN~E~ ILUNOI$ 60025-3071 FAX 708~24-~ 16 May 3, 1994 Honorable President and Members of the Board of Trustees Village of Glenview Gentlemen~ In accordance with state statutes and local regulation, I hereby transmit the comprehensive annual financial report of the Village of Glenview as of December 31, 1993 and for the fiscal year then ended. Responsibility for both the accuracy of the presented data and the completeness and fairness of the presentation, including all disclosures, rest with the Village. Management believes that the data, as presented, is accurate in all material aspects; that it is presented in a manner designed to fairly set forth the financial position and results of operations of the Village as measured by the financial activity of the various funds. Disclo- sures necessary to enable the reader to 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 comprehen- sive annual financial reports are judged to conform substantially with high standards of public reporting including generally accepted accounting principles promulgated by the Government Accounting Standards Board. It is my belief that the accompanying financial report meets the program standards and it will be submitted to the Government Finance Officers Association for review. The Village of Glenview has held a certificate for the last ten consecutive fiscal years. iii In accordance with the above mentioned guidelines, the accompanying report consists of three parts: 1. letter of transmittal from the Director Introductory section, a 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 unaudited data depicting the financial history of the Village for the past ten years, information on overlapping governments, and demographic and other miscellaneous information. State law required that the financial statements of the Village of Glenview be audited by a certified public accountant selected by the Board. This requirement has been complied with, and our auditor's opinion is included in the financial section of this report. Of concern to the Village of Glenview, as well as all is the of the on our budget. Revenue sectors, impact economy projections must be monitored constantly to provide the 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 year 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 iv However, the Glenview Park District, the Intergovernmental Personnel Benefit Cooperative (IPBC), the High-Level Excess Liability Pool (HELP), the Solid Waste Agency of Northern Cook County (SWANCC) and the Regional Emergency Dispatch Center (RED) have not met established criteria for inclusion in the reporting entity, and accordingly are excluded from this report. It is of major importance to note the Village of Glenview took over the management and operations of the Glenbrook Fire Protection Dis- trict as of September 1, 1992. Prior to that date the District was not included in this report as explained in the previous paragraph. After September 1, 1992, and for all future reports the financial activity of the former District will be included in the Village's Comprehensive Annual Financial Report. The Village is required to undergo an annual single audit in conformity with the provisions of the Single Audit Act of 1984 and U.S. Office of Management and Budget Circular A-128, Audits of State and Local Governments. Information related to this single audit, including the schedule of federal financial assistance, findings and recommendations, and auditor's reports on the internal control structure and compliance with applicable laws and regula- tions, are included in a separately issued Single Audit Report. ECONOMIC CONDITION AND OUTLOOK Over the last several years the largest source of revenue to the Corporate Fund has been sales tax. During that period of time, automobile sales have accounted for just over forty percent. The new Saturn dealership on Waukegan Road opened in early 1993. The new dealership should make a significant impact on the Village's sales tax revenue. However, auto sales in the Village are generally increasing. The total collections for 1993 ended the year approximately $580,000 above the sales tax collections for 1992. Hotel room tax is the Village's newest source of revenue. Several years ago the Village Board imposed a five percent tax. At that time, there were only two small moderately priced hotels in the Village and the revenue from this source was minor. However, in 1988 the Radisson Suite Hotel opened with two hundred fifty rooms. In mid 1989 the Marriott Courtyard Hotel opened. The Marriott Fairfield Inn opened in 1990. Hotel room tax is becoming a significant revenue source. During fiscal year 1994 I plan to make a recommendation that the Village Board authorize an audit of each hotel to insure compliance with the Village's room tax ordinance. Subsequent to December 31, 1993 the Village was awarded, for the fifth time, a AAA bond rating by Moody's Investor Service. This prestigious rating will not only make future bond issues more attractive on the market, it will save the Village money in the long run because of lower interest rates. MAJOR INITIATIVES For The Year In May 1993 the Village of Glenview issued $7,635,000 of general obligation bonds. The proceeds from the sale will be used to finance the construction of phase III of the public works service center. Also, a portion of the 1993 bond proceeds will be used for downtown redevelopment and land acquisition. This bond issue was rated Aaa by Moody's Investor Service, Inc. The United States Navy began the process of closing the Glenview Naval Air Station in late 1993. The entire closing process is expected to take several years. Glenview will benefit economically through the sale and development of the 1,288 acres of Navy land. Metra Railroad, a local commuter rail line, and the Village of Glenview broke ground for the construction of a new train station in 1993. Metra will finance the majority of the cost of construc- tion. The Villages' commitment to the project is approximately $300,000. Construction will be completed before the end of 1994. During 1993 the Village completed the Grove Street Bridge over the north branch of the Chicago river. The bridge is located in a residential area of Glenview. The two-year project was financed by the State of Illinois and the Village. Glenviews' commitment to the project was approximately $220,000. For The Future The closure of the Glenview Naval Air Station will continue to be a high profile issue in 1994. It is expected the Navy will remove its aircraft in 1994 and the Army and Marine Corp will do the same in early 1995. Presently the plans are to cease all air operations by March 1995. Two senior citizen condominium buildings will be built on the site of the old public works garage. If the developers can get their financing in order, the project will begin in 1994. Two additional special service areas are planned for 1994. One will be the residential area along Forest Drive and the other the cul-de-sac on Brandon Road. Both special service areas will be for the installation of water mains. DEPARTMENT FOCUS In 1993 the Finance Department accomplished its main goal discussed in last years transmittal letter. In March of 1993 the Villages Comprehensive purchasing manual was completed and published. It was a joint effort between all Village Departments and took almost a year to complete. During 1994 the Finance Department plans to install, and make available to all Departments, an optical vii character reader system. The O.C.R. system will be used for text storage, utility billing and engineering. Glenview's investment policy was written and adopted in 1982. Subsequent to that date the policy has undergone several revisions. In 1994 the management staff of the Finance Department will review the policy to insure it is current with state law and addresses new investment available in market. opportunities todays FINANCIAL INFORMATION Management of the Village is responsible for establishing and main- taining an internal control structure designed to ensure that the assets of the Village are protected from loss, theft or misuse, and to ensure that adequate accounting data are compiled to allow for the preparation of financial statements in conformity with generally accepted accounting principles. The internal control structure is designed to provide reasonable, but not absolute, assurance that thes~ objectives are met. The concept of reasonable assurance recognizes that, (1) the cost of a control should not exceed the benefits likely to be derived; and (2) the valuation of costs and benefits requires estimates and judgments by management. BUDGETING CONTROLS In addition, the Village of Glenview maintains budgetary controls. The objective of these budgetary controls is to ensure compliance with legal provisions embodied in the annual appropriated budget approved by the Village's governing body. Activities of the Corporate (General) fund, Special Revenue funds, Debt Service funds, Enterprise funds, and Pension Trust funds are included in the annual appropriated budget. Project-length financial plans are adopted for the Capital Projects funds. The level of budgetary control (that is, the level at which expenditures cannot legally exceed the appropriated amount) is established at the fund level. The Village also maintains an encumbrance accounting system as one technique of accomplishing budgetary control. Encumbered amounts lapse at year end. However, encumbrances generally are reappropri- ated as a part of the following year's budget. As demonstrated by the statements and schedules included in the financial section of this report, the Village continues to meet its responsibility for sound financial management. GENERAL GOVERNMENT FUNCTIONS The following schedule presents a summary of Corporate (General) fund, Special Revenue funds, and Debt Service funds and Component Unit - Library Fund revenues for the fiscal year ended December 31, 1993, and the amount and percentage of increases or decreases in relation to prior year revenues. viii Increase Percent of Percent (Decrease) Increase Revenues Amount of Total from 1992 (Decrease) Taxes $ 18,386,875 75 03 996,728 5.73 Licenses and Permits 1,042,608 425 77,965 8.08 Intergovernmental 2,358,528 962 626,950 36.21 Charges for Services 1,249,404 5 10 12,095 .98 Fines and Forfeits 321,888 1 31 <81,526> <20.21> Interest 226,255 92 <14,201m <5.91> Miscellaneous 920,242 3.77 17,010 1.88 ?oral $24,505,800 100.00 $1,635,021 Intergovernmental revenue increased greatly as a resuit of the merger between the Glenbrook Fire Protection District and the Village of Glenview. Interest revenue declined because of a general reduction of interest rates available in the market during all of 1993. presents a summary Corporate (General) fund, The following schedule of Special Revenue funds, Debt Service funds and Component Unit - Library fund expenditures for the fiscal year ended December 31, 1993, and the percentage of increases or decreases in relation to the prior year. Increase Percent of Percent (Decrease) Increase Expenditures Amount of Total from 1992 (Decrease) Current: General Government 3,245,699 14.70 <2,118> Public Safety 9,498,833 43.02 703,959 8.00 Highways and Streets 3,296,632 19.93 177,662 5.70 Pension 1,946,848 8.81 38,428 2.01 Culture and Recreation 2,343,601 10.62 465,566 24.80 Debt Service: Principal Retirement 775,000 3.51 <434,000> <35.90> Interest & Fiscal Chgs 971,332 4.41 <91,797> <8.63> Total $22,077,945 100.00 $857,700 Culture and Recreation shows a 24.8% increase in expenditures for 1993. During the year the Glenview Public Library spent a significant sum upgrading the hardware and software necessary for their electronic circulation system. All of the work was completed prior to the end of the fiscal year. CORPORATE FUND BALANCE The fund balance of the Corporate Fund increased by 11.15 percent in 1993. The $828,118 increase now provides the Village with a total fund balance that is the equivalent to 193 working days of expenditures. Village policy is to maintain a minimum of 90 days of working cash in reserve. Included in the increase in the fund balance are funds collected for the income tax surcharge that have not been appropriated as of the end of the year. ENTERPRISE OPERATIONS The Village's enterprise operations are comprised of four separate and distinct activities: Water Fund serving the incorporated and unincorporated areas of Glenview, Wholesale Water Fund providing water to Citizens Utility Company. The other two enterprise activities are the Sewerage Fund and the Commuter Parking Fund. PENSION TRUST FUND OPERATIONS The operations of the Police Pension Fund remained relatively stable in 1993. The Firefighters' Pension Fund shows a large increase in the assets of the fund. That is a direct result of the merger between the Glenbrook Fire Protection District and the Village. The annual actuarial valuation continues to reflect a positive trend in the Village's and employees' funding of the PERS. DEBT ADMINISTRATION At December 31, 1993, the Village had a number of debt issues out- standing. These issues are all general obligation bonds. Under current state statutes, the Village's general obligation bonded debt issuances are not subject to a legal limitation based on the Village's Home Rule powers. CASH MANAGEMENT Cash temporarily idle during the year was invested in demand deposits, certificates of deposit, and obligations of the U.S. Treasury. The Pension Trust Fund's investment portfolio includes mainly zero coupon bonds. The average yield on investments, excluding the Pension Trust Fund, was 6.13 percent. The Pension Trust Fund achieved a yield rate of 7.27 percent for this same period. This higher rate of return on pension fund investments is attributable to the long-term nature of most holdings in its portfolio. The Village's investment policy is to minimize credit and market risks while maintaining a competitive yield on its portfolio. Ac- cordingly, deposits were either insured by federal depository in- surance or collateralized. All collateral on deposits is held by x a financial institution acting as a third party trust agent. Ninety-nine percent of investments held by the Village during the year, and at December 31, 1993, are classified in the category (lowest credit risk) as defined by the Governmental Accounting Standards Board. RISK MANAGEMENT The Village of Glenview is involved in two public entity risk pools. The first pool, Intergovernmental Personnel Benefit Cooperative (IPBC), is an organization of twenty-four communities. This organization provides health coverage and life insurance for a portion of Village employees. Participation in the IPBC is optional; employees may also choose to participate in either of two HMO plans. The Village has been a member of the IPBC pool since its formation in 1980. Glenview is also a member of the High-Level Excess Liability Pool (HELP). This pool is made up of fourteen villages. The purpose of the pool is to provide excess liability protection for its members. Presently the pool provides five million dollars of insurance. The lower limit required insurance is one million dollars. Membership in HELP is an eleven year commitment. Beginning May l, 1994 the pool will begin its eighth year of operation. INDEPENDENT AUDIT State statutes require an annual audit by independent certified public accountants. The accounting firm of Crowe Chizek, CPA's was selected by the Village Board. In addition to meeting the re- quirements set forth in state statutes, the audit also was designed to meet the requirements of the federal Single Audit Act of 1984 and related OMB Circular A-12S. The auditor's reports related specifically to the single audit are included in the separately issued Single Audit Report. AWARDS The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the Village of Glenview for its comprehensive annual financial report for the fiscal year ended December 31, 1992. The Certificate of Achievement is a prestigious national award recognizing conformance with the highest standards for preparation of state and local government financial reports. In order to be awarded a Certificate of Achievement, a governmental unit must publish an easily readable and efficiently organized com- prehensive annual financial report (CAFR), whose contents conform to program standards. Such CAFR must satisfy both generally accepted accounting principles and applicable legal requirements. A Certificate of Achievement is valid for a period of one year only. The Village of Glenview has received a Certificate of Achievement for the last eleven consecutive years. We believe our current report continues to conform to the Certificate of Achieve- ment program requirements, and we are submitting it to GFOA. ACKNOWLEDGMENTS The preparation of the comprehensive annual financial report on a timely basis was made possible by the dedicated service of the en- tire staff of the finance department. Each member of the depart- ment has my sincere appreciation for the contributions made in the preparation of this report. In closing, without the leadership and support of the Village Board, and the Village Manager preparation of this report would not have been possible. ctfully submitted, Dennis M. Lausr Director of Finance xii 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, 1992 A Certificate of Achievement for Excellence in Financial Reporting is presented by the Government Finance Officers Association of the United States and Canada to government units and public employee retirement systems whose comprehensive annual financial reports (CAFRs) achieve the highest standards in government accounting and financial reporting. President Executive Director xiii Financial Section CROWE CHIZEK INDEPENDENT AUDITORS REPORT OF 'l'he Honorable Nancy Firfer, Village President Members of the Board of Trustees Village of Glenview, Illinois We have audited the accompanying general financial statements and the purpose combining, individual fund, and account group financial statements of the Village of Glenview, Illinois, as of and for the year ended December 31, 1993, as listed in the accompanying table of contents. These financial statements are the responsibility of the Village of Glenview, Illinois' management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards, "Government Auditing Standards", issued by the Comptroller General of the United States, and the provisions of the Office of Management and Budget Circular A-128, "Audits of State and Local Governments". Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the general purpose financial statements referred to above present fairly, in all material respects, the financial position of the Village of Glenview, Illinois, as of December 31, 1993, and the results of its operations and the cash flows of its proprietary fund types for the year then ended in conformity with generally accepted accounting principles. Also, in our opinion, the combining, individual fund, and account group financial statements referred to above present fairly, in all material respects, the financial position of each of the individual funds and account groups of the Village of Glenview, Illinois, as of December 31, 1993, and the results of operations of such funds and the cash flows of individual proprietary funds for the year then ended in conformity with generally accepted accounting principles. Our audit was made for the purpose of forming an opinion on the general purpose financial statements taken as a whole and on the combining, individual fund, and account group financial statements. The accompanying financial information listed as supplemental and schedules in the accompanying table of contents is presented for purposes of additional analysis and is not a required part of the financial statements of the Village of Glenview, Illinois. Such information for 1993 has been subjected to the auditing procedures applied in the audit of the general purpose, combining, individual fund, and account group financial statements and, in our opinion, is fairly presented in all material respects in relation to the general purpose financial statements and each of the combining, individual fund, and account group financial statements taken as a whole. The general purpose financial statements and the combining, individual fund, and account group financial statements of the Village of Glenview, Illinois as of and for the year ended December 31, 1992, which statements are not included herein, were audited by other auditors whose report dated April 3, 1993, expressed an unqualified opinion on those statements. The accompanying financial information for 1992 listed as supplemental and schedules in the accompanying table of contents was subjected to the auditing procedures applied in the audit of the general purpose, combining, individual fund, and account group financial statements and, in the opinion of the predecessor auditor, was fairly presented in all material respects in relation to the general purpose financial statements and each of the combining, individual fund, and account group financial statements taken as a whole. The introductory and statistical information listed in the table of contents was not audited by us and, accordingly, we do not express an opinion thereon. Crowe, Chizek and Company Oak Brook, Illinois May 6, 1994 I I I I I I I I I I I I I I I I I I COMBINED STATEMENTS -- OVERVIEW I VILLAGE OF GLENVIEW, ILLINOIS All Fund Types and Account Groups Combined Balance Sheet December 31, 1993 (See Following Page) I - ~ .~ I ~ VILLAGE OF GLENVIEW, ILLINOIS All Proprietary and Fiduciary (Pension Trust) Fund Types Combined Statement of Revenues, Expenses, and Changes in Retained Earnings/Fund Balances Year Ended December 31, 1993 (with comparative totals for 1992) (See Following Page) VILLAGE OF GLENVIEW, ILLINOIS All Proprietary and Fiduciary (Pension Trust) Fund Types Combined Statement of Revenues, Expenses, and Changes in Retained Earnings/Fund Balances Year Ended December 31, 1993 (with comparative totals for 1992) Proprietary Fiduciary ..... Fund Types ....... Fund Type - Totals Internal Pension .... (Memorandum Only)- - - Enterprise Service Trust 1993 1992 Operating revenues Taxes $ $ $ 290,197 $ 290,197 $ 45,135 Charges for services 6,942,012 3,375,335 10,317,347 8,458,175 Contributions 568,112 568,112 449,683 Interest 1,681,711 1,681,711 2,219,014 Miscellaneous 184,868 82,187 3,903,836 4,170t891 592,002 Total operating revenues 7~126,880 3e457~522 6,443e856 17,028,258 11,764,009 Operating expenses Administration 815,520 815,520 877,805 Operations 4,153,972 2,943,442 7,097,414 5,322,675 Depreciation 538,234 538,234 377,187 Benefits and refunds 835,253 835,253 634,709 Miscellaneous 25,915 25~915 7,032 Total operating expenses 5,507,726 2,943~442 861,168 9~312~336 7,219,408 Operating income 1,619,154 514,080 5,582,688 7,715~922 4,544,601 Nonoperating revenues (expenses) Interest income 73,642 38,824 112,466 123,724 Income from public entity risk pool 28,813 28,813 76,183 Merged pension plan 8,847,410 Interest expense and fiscal charges (446,809) (446,809) (407,450) Gain (loss) on sale of fixed assets 15,210 15,210 2,610 (357,957) 67,637 (290,320) 8,642,477 Income before operating transfers and extraordinary loss 1,261~197 581,717 5,582~688 7,425,602 13t187,078 Operating transfers in 66,621 66,621 590,181 Operating transfers (out) (642,737) (4,600) (647~337) (949,295) (642,737) (4,600) 66,621 1580,716) (359,114) (Continued) VILLAGE OF GLENVIEW, ILLINOIS All Proprietary and Fiduciary (Pension Trust) Fund Types Combined Statement of Revenues, Expenses, and Changes in Retained Earnings/Fund Balances Year Ended December 31, 1993 (with comparative totals for 1992) Proprietary Fiduciary ...... Fund Types ......... Fund Type - Totals Internal Pension .... (Memorandum Only)--- Enterprise Service Trust 1993 1992 Net income before extraordinary(loss) $ 618,460 $ 577,117 $ 5,649,309 $ 6,844,886 $12,827,964 Extraordinary (loss) on early retirement of debt (138t775) Net income 618,460 577,117 5,649,309 6,844,886 12,689,189 Retained earnings/fund balances January 1-as restated 12~086t911 lt677~616 33t521~775 47t286r302 34r597A13 December 31 $ 12r705,371 $ 2~254~733 $ 39~171~084 $ 54t131,188 $ 47~286~302 See accompanying notes to financial statements. 6 VILLAGE OF GLENVIEW, ILLINOIS All Proprietary Fund Types Combined Statement of Cash Flows Year Ended December 31, 1993 (with comparative totals for 1992) - -Proprietarg Fund Tgpes- - Totals internal .... (Memorandum Only) .... Enterprise Service Cash flows from operating activities 1993 1992 Operating income $ 1,619,154 $ 514,080 $ 2,133,234 $ 2,141,457 Adjustments to reconcile operating income to net cash provided by operating activities Operating transfers in 545,116 DOperating transfers out (642,737) (4,600) (647,337) (949,295) epreciation 538,234 538,234 377,187 Changes in assets and liabilities Accounts receivable (62,358) (3,904) (66,262) 335,457 Advance to other funds (343,549) (343,549) (73,470) Due from other f~nds 2,124,609 2,124,609 (1,536,294) Inventory (1,697) (1,697) (5,037) Deposit in IPBC 264,326 264,326 58,058 Accounts payable 108,518 (68,948) 39,570 13,842 Compensated absences payable 6,474 6,474 (1,934) Other payables 16,565 16,565 20,000 Due to other funds (449,601) (32,830) (482,431) 212,301 2~913~612 668,124 3~581~736 1,137~388 Cash flows from capital and related financing activities Fixed assets purchased (1,765,024) (1,765,024) (1,961,652) Proceeds from sale of assets 15,210 15,210 2,610 Proceeds from general obligation bonds 6,032,444 Principal paid on general obligation bonds (710,000) (710,000) (4,050,108) Interest paid on general obligation bonds {443,180) (443,180) (407,450) (2,902,994) {2,902,994) (384,156) Cash flows from investing activities Interest on cash equivalents 73~642 38~824 112~466 123~421 Net increase in cash and cash equivalents 84,260 706,948 791,208 876,653 Cash and cash equivalents January 1 1~700~507 1~12L619 2t822~126 1~945,473 December31 $ L784~767 $ 1~828t567 $ 3~613~334 $ 2~822,126 Noncash Investing, Capital, and Financing Activities The Enterprise Funds received $179,084 in contributions of fixed assets from other funds which were recorded as additions to contributed capital. The Internal Service Funds recorded income of $28,813 on their investment in public entity risk pool - HELP for the year ended December 31, 1993. See accompanying notes to financial statements. VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1993 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The financial statements of the Village of Glenview, Illinois (Government), have been prepared in conformity with generally accepted accounting principles (GAAP) as applied to government units. The Governmental Standards Board is the Accounting (GASB) accepted standard-setting body for establishing governmental accounting and financial reporting principles. The more significant of the Government's accounting policies are described below. Reporting Entity: The Government is a municipal corporation governed by an elected seven- member board. As required by generally accepted accounting principles, these financial statements present the Government (the primary government) and its component units. The component units discussed below are included in the Government's reporting entity because of the significance of their operational or financial relationship with the Government. Blended Component Un/ts: Police Pension Employees Retirement System The Government's police employees participate in the Police Pension Employees Retirement System (PPERS). PPERS functions for the benefit of these employees and is governed by a five-member pension board. Two members appointed by the Government's President, one elected pension beneficiary, and two elected police employees constitute the pm~sion board. The Government and PPERS participants are obligated to fund ail PPERS costs based upon actuarial valuations. The state of Illinois is authorized to establish benefit levels and the Government is authorized to approve the actuarial assumptions used in the determination of contribution levels. Although it possesses many of the characteristics of a legally separate government, the PPERS is reported as if it were part of the primary government because its sole purpose is to finance and administer the pensions of the Government's police employees, and because of the fiduciary nature of such activities. Firefighters' Pension Employees Retirement System The Government's firefighters participate in t e Flrefighters Pension Employees Rehrement System (FPERS). FPERS functions for the benefit of these employees and is governed by a nine-member pension board. The Government's President, Treasurer, Clerk, Attorney, and Fire Chief, one elected pension beneficiary, and three elected fire employees constitute the pension board. The Government and FPERS participants are obligated to fund all FPERS costs based upon actuarial valuations. The state of Illinois is authorized to establish benefit levels and the Government is authorized to approve the actuarial assumptions used in the determination of contribution levels. Although it possesses many of the characteristics of a legally separate government, the FPERS is reported as if it were part of the primary government because its sole purpose is to finance and administer the pensions of the Government's firefighters, and because of the fiduciary nature of such activities. (Continued) VILLAGE OF GLENVIEW, ILLINOIS to Financial Statements Notes December 31, 1993 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Reporting Entity: (Continued) Discretely Presented Component Unit: Village o£ Glenview Public Library The Glenview Public Library has a separately elected seven member board which annually determines its budget and resulting tax levy. Upon approval of the Government, the levy is submitted to the County. All debt of the library is secured by the full faith and credit of the Government which is wholly liable for the debt. The library, while servicing the general population of the government, does not provide services entirely to the Government. Because the library possesses the characteristics of a legally separate government and does not service the primary government, the library is being reported as a discrete presentation. Separate financial statements are disclosed in the component unit portion of this report. Joint Ventures: Regional Emergency Dispatch Center (R.E.D.) R.E.D. is a joint venture used to account for the resources involved in dispatching fire and medical emergency services to a six-community area. Management consists of a board of Directors comprised of one elected trustee from each member jurisdiction. Day to day operations are administered by the Fire Chiefs of each member jurisdiction. The government does not exercise any control over the activities of the Agency beyond its representation on the Board of Directors. R.E.D. is reported as a governmental joint venture. Additional required disclosures may be found in the Commitments, Contingent Liabilities, and Joint Ventures notes to financial statements. Solid Waste Agency of Northern Cook County (SWANCC) The Government is a participant with twenty-two other municipalities in a joint venture. SWANCC is a municipal corporation empowered to plan, finance, construct and operate a solid waste disposal system to serve its member municipalities. Management consists of a Board of Directors comprised of one appointed representative from each member. The government does not exercise any control over the activities of the Agency beyond its representation on the Board of Directors. On dissolution of the Agency, the net assets of SWANCC will be shared proportionately by its members. SWANCC is reported as a proprietary joint venture. (Continued) VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1993 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Fund Accounting: The Government uses funds and account groups to report on its financial position, results of its operations, and cash flows. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions to related certain government functions or activities. A fund is a separate accounting entity a self-balancing set accounts, account group, of on the other hand, is a financial reporting device designed to provide accountability for certain assets and liabilities that are not recorded in the funds because they do not directly affect net expendable resources. available financial Funds are classified into the following categories: governmental, proprietary, and fiduciary. Each in turn, is divided into "fund types". category, separate Governmental funds are used to account for all or most of a Government's general activities, including the collection and disbursement of earmarked monies (special revenue funds), the acquisition or construction of general fixed assets (capital projects funds), and the servicing of general long-term debt (debt service funds). The general fund is used to account for all activities of the general government not accounted for in some other fund. Proprietary funds are used to account for activities similar to those found in the private sector, where the determination of net income is necessary or useful to sound financial administration. Goods or services from such activities can be provided either to outside parties (enterprise funds) or to other departments or agencies primarily within the Government (internal service funds). Fiduciary funds are used to account for assets held on behalf of outside parties, including other governments, or on behalf of other funds within the Government. When these assets are held under the terms of a formal trust agreement, either a pension trust fund, a nonexpendable trust fund, or an expendable trust fund is used. The terms "nonexpendable" and "expendable" refer to whether or not the Government is under an obligation to maintain the trust principal. Agency funds generally are used to account for assets that the Government holds on behalf of others as their agent. Basis of Accounting: The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. All governmental funds and expendable trust funds are accounted for using a current financial resources measurement focus. With this measurement focus, only current assets and current liabilities generally are included on the balance sheet. Operating statements of these funds present increases (i.e., revenues and other financing sources) and decreases (i.e., expenditures and other financing uses) in net current assets. (Continued) VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1993 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Basis of Accounting: (Continued) proprietary funds, nonexpendable trust funds, and pension trust funds are accounted for on All a flow of economic resources measurement focus. With this measurement focus, all assets and all liabilities associated with the operation of these funds are included on the balance sheet. Proprietary fund-type fund equity (i.e., net total assets) is segregated into contributed capital and retained earnings components. Proprietary fund-type operating statements present increases (i.e., revenues) and decreases (i.e., expenses) in net total assets. The modified accrual basis of accounting is used by all governmental fund types, expendable trust funds, and agency funds. Under the modified accrual basis of accounting, revenues are recognized when susceptible to accrual (i.e., when they become both measurable and available). "Measurable" means the amount of the transaction can be determined and "available" means collectible within the current period. The Government recognizes property taxes when they become both measurable and available in accordance with GASB Codification Section P70. A one-year availability period is used for revenue recognition for all other governmental fund revenues. Expenditures are recorded when the related fund liability is incurred. Principal and interest on general long-term debt are recorded as fund liabilities when due or when amounts have been accumulated in the debt service fund for payments to be made early in the following year. Those revenues susceptible to accrual are property taxes, franchise taxes, licenses, interest revenue, and charges for services. Sales, income, and motor fuel taxes, and fines collected and held by the state at year end on behalf of the Government also are recognized as revenue. Permit revenues are not susceptible to accrual because generally they are not measurable until received in cash. The accrual basis of accounting is utilized by proprietary fund types, pension trust funds, and nonexpendable trust funds. Under this method, revenues are recorded when earned and expenses are recorded at the time liabilities are incurred. The Government reports deferred revenue on its combined balance sheet. Deferred revenues arise when a potential revenue does not meet both the "measurable" and "available" criteria for recognition in the current period. Deferred revenues also arise when resources are received by the Government before it has a legal claim to them, as when grant monies are received prior to the incurrence of qualifying expenditures. In subsequent periods, when both revenue recognition criteria are met, or when the Government has a legal claim to the resources, the liability for deferred revenue is removed from the combined balance sheet and revenue is recognized. (Continued) VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1993 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Budgets: Budgets are adopted on a basis consistent with generally accepted accounting principles. Annual appropriated budgets are adopted (at the fund level) for the General, Special Revenue, and Debt Service the modified accrual basis, and Internal Service, and Enterprise, on Pension Trust funds on the accrual basis. The annual appropriated budget is legally enacted and provides for a legal level of control at the fund level. All annual appropriations lapse at fiscal end. year During the current year, budgets were not adopted for the following funds: Debt Service Funds Corporate Purpose Bond Series of 1991 Corporate Purpose Bond Series of 1993 The source of revenue and nature of expenditures for these funds are not subject to prediction and, therefore, budgets were not adopted. Budget and actual comparisons for the Debt Service Funds exclude the aforementioned funds. The following is a reconciliation of the Debt Service Funds presented on a budgetary basis to the GAAP basis presentation. Fund Balances - Budgeted Debt Service Funds, at December 31, 1993 GAAP Basis $ lf263,306 Nonbudgeted Fund Balances Corporate Purpose Bond Series of 1991 25,490 Corporate Purpose Bond Series of 1993 (212,063) (186~573) Fund Balances - All Debt Service Funds, at December 31, 1993 GAAP Basis $ lt076~733 Encumbrances represent commitments related to unperformed contracts for goods or services. Encumbrance accounting--under which purchase orders, contracts and other commitments for the expenditure of resources are recorded to reserve that portion of the applicable appropriation--is utilized in the governmental funds. Material encumbrances outstanding at year end, if any, are reported as reservations of fund balances and do not constitute expenditures or liabilities because the commitments will be honored during the subsequent year. (Continued) VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1993 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Cash and Investments: For purposes of the statement of cash flows, the Government's proprietary fund types consider ail highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Investments: Investments are stated at cost or amortized cost, subject to adjustment for market declines judged to be other than temporary (lower of cost or market), except for investments in the deferred compensation agency fund which are reported at market value. Receivables/Payables: During the course of operations, numerous Short-term Interfund transactions occur between individual funds for goods provided or services rendered. These receivables and payables are classified as "due from other funds" or "due to other funds" on the balance sheet. Short-term interfund loans, if any, are classified as"interfund receivables / payables". Inventories: Inventories are valued at cost, which approximates market, using the first-in/first- out (FIFO) method. The costs of governmental fund-type inventories are recorded as expenditures when consumed rather than when purchased. Prepaid Items/Expenses: Payments made to vendors for services that will benefit periods beyond the date of this report are recorded as prepaid items/expenses. Fixed Assets: General fixed assets are not capitalized in the funds used to acquire or construct them. Instead, capital acquisition and construction are reflected as expenditures in governmental funds, and the related assets are reported in the general fixed assets account group. All purchased fixed assets are valued at cost where historical records are available and at an estimated historical cost where no historical records exist. Donated fixed assets are valued at their estimated fair market value on the date received. The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend asset lives are not capitalized. Improvements are capitalized and depreciated over the remaining useful lives of the related fixed assets, as applicable. Public domain ("infrastructure") general fixed assets consisting of roads, bridges, curbs and gutters, streets and sidewalks, drainage systems and lighting systems are not capitalized, as these assets are immovable and of value only to the government. Assets in the general fixed assets account group are not depreciated. Depreciation of buildings, equipment, water/sewer systems, and vehicles in the proprietary fund types is computed using the straight-line method. (Continued) VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1993 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Fixed Assets (Continued) Interest is fund assets acquired with tax-exempt debt. The amount of capitalized on proprietary interest to be capitalized is calculated by offsetting interest expense incurred from the date of the borrowing until completion of the project with interest earned on invested proceeds over same period. the Compensated Absences: Vested or accumulated vacation leave that is expected to be with expendable available financial resources is reported as an expenditure and a liquidated fund liability of the governmental fund that will pay it. Vested or accumulated vacation leave of proprietary funds is recorded as an expense and liability of those funds as the benefits accrue to employees. Long-Term Obligations: Long-term debt is recognized as a liability of a governmental fund when due, or when resources have been accumulated in the debt service fund for payment early in the following year. For other long-term obligations, only that portion expected to be financed from expendable available financial resources is reported as a fund liability of a governmental fund. The remaining portion of such obligations is reported in the general long- term debt account group. Long-term liabilities expected to be financed from proprietary fund operations are accounted for in those funds. Fund Equity: Contributed capital is recorded in proprietary funds that have received capital grants or contributions from developers, customers, or other funds. Reserves represent those portions of fund equity not appropriable for expenditure or legally segregated for a specific future use. Designated fund balances represent tentative plans for future use of financial resources. Bond Discounts/Issuance Costs: In governmental fund types, bond discounts and issuance costs are recognized in the current period. Bond discounts and issuance costs for proprietary fund types are deferred and amortized over the term of the bonds using the bonds-outstanding method, which approximates the effective interest method. Bond discounts are presented as a reduction of the face amount of bonds payable whereas issuance costs are recorded as deferred charges. InterfundTransactions: Quasi-external transactions are accounted for as revenues, expenditures, or expenses. Transactions that constitute reimbursements to a fund for expenditures/expenses initially made from it that are properly applicable to another fund, are recorded as expenditures/expenses in the reimbursing fund and as reductions of expenditures/ expenses in the fund that is reimbursed. (Continued) 14 VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1993 NOTE ! - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Interfund Transactions (Continued) transactions, except quasi-external transactions and reimbursements, are All other interfund reported as transfers. Nonrecurring or nonroutine permanent transfers of equity are reported as residual equity transfers. All other interfund transfers are reported as operating transfers. Memorandum Only - Total Columns: Total columns on the general purpose financial statements are captioned "memorandum only" to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position or results of operations in conformity with generally accepted accounting principles. Neither are such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data. Comparative Data: Comparative total data for the prior year have been presented in selected sections of the accompanying financial statements in order to provide an understanding of changes in the Goverrrment's financial position, operations, and cash flows. NOTE 2 - LEGAL COMPLIANCE AND ACCOUNTABILITY Budgets: All departments of the Government submit requests for appropriation to the Government's manager so that a budget may be prepared. The budget is prepared by fund, and includes information on the past year, current year estimates, and requested appropriations for the next fiscal year. The proposed budget is presented to the governing body for review. The governing body holds public hearings and may add to, subtract from, or change appropriations, but may not change the form of the budget. The manager is authorized to transfer budgeted amounts between departments within any fund; however, any revisions that alter the total expenditures of any fund must be approved by the governing body. Expenditures may not legally exceed budgeted appropriations at the fund level. During the year several supplementary appropriations were necessary. (Continued) VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1993 NOTE 2 - LEGAL COMPLIANCE AND ACCOUNTABILITY (Continued) Deficit Fund Balances of Individual Funds: The following funds had a deficit in fund balance as of the date of this report: Defidt Fund Balance Illinois Municipal Retirement $ (1,360,726) Refuse and Recycling (85,218) Corporate Purpose Bond Series of 1993 (212,063) Excess of Actual Expenditures/Expenses Over Budget in Individual Funds: The following funds had an excess of actual expenditures/expenses (exclusive of depreciation and amortization) over budget for the fiscal year: Fund Excess Illinois Municipal Retirement $ 273,642 Motor Fuel Tax 149,832 Recycling 50,859 Refuse and Corporate Purpose Bond Series of 1989 34 Sewerage 42,051 Commuter Parking Lot 30,598 Municipal Equipment Repair 27,536 Insurance 385,206 Police Pension 27,643 Firefighters' Pension 116,961 NOTE 3 - DEPOSITS AND INVESTMENTS The Government maintains a cash and investment pool that is available for use by all funds, except the pension trust funds. Each fund type's portion of this pool is displayed on the combined balance sheet as "cash and investments". In addition, investments are separately held by several of the government's funds. The deposits and investments of the pension trust funds are held separately from those of other funds. Cash on hand of $3,575 has been excluded from the amounts shown below. Deposits - authorize the government to make Permitted and Investments Statutes deposits/invest in insured commercial banks, savings and loan institutions, obligations of the U.S. Treasury and U.S. Agencies, insured credit union shares, money market mutual funds with portfolios or guaranteed by the United States or agreements to repurchase of securities issued (Continued) 16 VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1993 NOTE 3 - DEPOSITS AND INVESTMENTS (Continued) these same obligations, repurchase agreements, short-term commercial paper rated within the three highest classifications by at least two standard rating services, and the Illinois Public Treasurer's Investment Pool. Pension funds may also invest in certain non-U.S, obligations, Illinois municipal corporations tax anticipation warrants, veteran's loans, obligations of the State of Illinois and its political subdivisions, and Illinois insurance company general and separate accounts. Deposits: At year-end the carrying amount of the Government's deposits totaled $33,409,024 and the bank balances totaled $33,991,359. Bank Balances Category 1 Deposits covered by federal depository insurance, or by collateral held by the Government, or its agent, in the Government's name. $ 33,901,359 Category 2 Deposits covered by collateral held by the pledging financial institution's trust department, or by its agent, in the Government's name. Category 3 Deposits covered by collateral held by the pledging financial institution, or its trust department, or its agent but not in the Government's name, and deposits which are m~insured and uncollateralized. 90,000 Total Deposits $ 33~991t359 For pension trust funds the types of deposits authorized and the mix of credit risk categories do not differ significantly from the other funds of the Government. Investments: The Government's investments are categorized to give an indication of the level of risk assumed by the entity at year-end. Category 1 includes investments that are insured or registered or for which the securities are held by the Government or its agent in the Government's name. Category 2 includes uninsured and unregistered investments for which the securities are held by the counterparty's trust department or agent in the Government's name. (Continued) VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1993 NOTE 3 - DEPOSITS AND INVESTMENTS (Continued) Investments (Continued) Category 3 includes uninsured and unregistered investments for which the securities are held by the counterparty, or by its trust department or agent but not in the Government's name, and uninsured, unregistered and tmcollateralized investments. Carrying Amount Category Market 1_ 2 3 Totals Value U.S. Treasury Securities $ 25,486,412 $ $ $ 25,486,412 $ 25,741,276 Israel Bonds 13,176,006 13,176,006 13,334,118 U.S. Agency Security (GNMA's) 330~824 330~824 347~663 $ 38,993,242 $ $ 38,993,242 39,423,057 * Deferred Compensation Plan Assets 8,576,810 8,576,810 * Insurance Contracts and Separate Accounts 309t182 309,182 Total Investments S 47,879,234 $ 48,309~049 * (Not Subject to Risk Categorization) The pension trust funds own 95 percent of the investments in Category 1. NOTE 4 - RECEIVABLES-TAXES Property taxes for 1993 attach as an enforceable lien on January 1, 1993, on property values assessed as of the same date. Taxes are levied by December of the subsequent fiscal year (by passage of a Tax Levy Ordinance). Tax bills are prepared by the County and issued on or about February 1, 1994, and August 1, 1994, and are payable in two installments, on or about March 1, 1994, and September 1, 1994. The County collects such taxes and remits them periodically. The allowance for uncollectible taxes has been stated at 2% of the tax levy, to reflect actual collection experience. (Continued) VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1993 NOTE 5 - FIXED ASSETS General Fixed Assets Account Group: The following is a summary of changes in the general fixed assets account group during the fiscal year: Balances Balances January 1 Additions Retirements December 1 Land $ 3,405,095 $ $ $ 3,405,095 Buildings and improvements 7,727,257 7,727,257 Equipment 6,347,884 280,732 248,116 6,380,500 Furrdture 296,096 296,096 Office equipment 328t841 328~841 $ 18fi05~173 $ 280t732 $ 248~116 $ 18,137,789 Proprietary Fixed Assets The following is a summary of proprietary fund-type fixed assets as of the date of this report: Enterprise Funds Land and improvements $ 67,851 Leasehold improvements 203,309 Water/sewer systems 25,002,576 Buildings 243,645 Equipment and vehicles 1,155,943 Office furniture and equipment 5,457 26,678,781 Less accumulated depreciation and amortization (6,921,679) $ 19t757~102 In proprietary funds, the following estimated useful lives are used to compute depreciation: Leasehold improvements 10-20 years Water/sewer systems 50 years Buildings 40-50 years Equipment and vehicles 3-10 years Office fumiture and equipment 3-10 years (Continued) 19 VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1993 NOTE 6 - RISK MANAGEMENT The Government has purchased insurance from private insurance companies for general liability, worker's compensation, property, auto, law enforcement liability, ambulance attendants liability and other risks. The policies call for various levels of deductibles or self- insured retentions. The Government has established an Insurance Fund (an internal service fund). Each participating fund makes payments to the Insurance Fund for amounts which are actuarially determined. Such payments are displayed on the financial statement as revenues and expenditures/expenses (quasi-external transfers). Intergovernmental Personnel Benefit Cooperative (IPBC) 2~e Government participates in the Intergovernmental Personnel Benefit Cooperative (IPBC). IPBC is a proprietary joint venture established by certain units of local government in Illinois to administer some or all of the personnel benefit programs (primarily medical, dental, and life insurance coverage) offered by these members to their officers and employees and to the officers and employees of certain other governmental, quasigovemmental, and nonprofit public service entities. The Cooperative acts as an administrative agency to receive, process and pay such claims as may come within the benefit program of each member. Management consists of a Board of Directors comprised of one appointed representative from each member. In addition, there are two officers: a Benefit Administrator and a Treasurer. The Government does not exercise any control over the activities of the Cooperative beyond its representation on the Board of Directors. For the year ended June 30, 1993, IPBC had a total equity of $3,403,361, of which $2,587,198 was attributed to the Terminal reserve. The Government's proportionate share of the Terminal Reserve was $75,308 and is recorded as a deposit. The remaining equity of $816,163 includes the Government's proportionate share of $(32,389). The Government's total payments for the year ended December 31, 1993 were $775,958. High-Level Excess Liability Pool (HELP) The government participates in the High-Level Excess Liability Pool (HELP). HELP is a proprietary joint venture established by certain municipalities in Illinois to provide excess liability coverage ($5,000,000 of coverage after a $1,000,000 self-insurance retention). The government's payments to HELP are displayed on the financial statements as expenditures/expenses in appropriate funds. (Continued) 20 VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1993 NOTE 6 - RISK MANAGEMENT (Continued) High-Level Excess Liability Pool (HELP) (Continued) The purpose of HELP is to act as a joint self-insurance pool for the purpose of seeking the prevention or lessening of liability claims for injuries to persons or property or claims for errors and omissions made against the Members and other parties included within the scope of coverage of HELP. HELP is governed by a Board of Directors which consists of one appointed representative from each member municipality. Each director has an equal vote. The officers of HELP are appointed by the Board of Directors. The Board of Directors determines the general policy of HELP, makes all appropriations, approves contracts, adopts resolutions providing for the issuance of debt by HELP, adopts by-laws, rules and regulations, and exercises such powers and performs such duties as may be prescribed in the HELP Agreement or the by-laws. The Government does not exercise any control over the activities of HELP beyond its representation on the Board of Directors. At April 30, 1993, the total equity of HELP was $6,538,192, of which the Government's share was $374,695. For the year ended April 30, 1993, the net income of HELP was $1,109,329, of which the Government's share was $71,995. The Government payments to HELP during the period ended December 31, 1993 were $82,797. NOTE 7 - LEASE OBLIGATIONS No material capital or operating leases were in effect as of the date of this report. NOTE 8 - LONG-TERM DEBT Changes in Long-Term Liabilities: During the fiscal year the following changes occurred in liabilities reported in the General Long-Term Debt Account Group: Balances Balances January 1 Additions Reductions December 31 General Obligation Bonds $ 12,141,200 $ 7,635,000 $ 775,000 $ 19,001,200 Pension Obligation Payable 189,592 70~685 260,277 $ 12,330,792 $ 7,705,685 $ 775,000 $ 19,261,477 (Continued) VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1993 NOTE 8 - LONG-TERM DEBT (Continued) General Obligation Bonds: The Government issues general obligation bonds to provide funds for the acquisition and construction of maior capital facilities. General obligation bonds have been issued for both and activities. These bonds therefore general government proprietary are reported in the proprietary funds if they are expected to be repaid from proprietary revenues. General bonds direct and the full faith and credit of the obligation obligations pledge are Government. General obligation bonds currently outstanding are as follows: Fund Debt Balances Balances Issue Retired By January 1 Issuances Reductions December 31 $3,100,000 Library Building Bonds dated July 1, 1984 due in annual installments of $225,000 to $275,000 plus interest at 8.5% to 10.0% Debt through December 1, 1997. Service $ 275,000 $ $ $ 275,000 $4,525,000 Corporate Purpose Bonds dated July 1, 1977 due in annual installments of $225,000 to $375,000 plus interest at 4.6% to Water- 6.0% through January 1, 1998. works 1,650,000 300,000 1,350,000 $8,000,000 Corporate Purpose Bonds Series of 1989 dated July 1, 1989 due in annual installments of $125,000 to $625,000 plus interest at 6.10% to 6.60% through Debt December 1, 2004. Service 7,100,000 475,000 6,625,000 $4,500,000 Corporate Purpose Bonds Series of 1990 dated May 1, 1990 due in annual installments of $50,000 to $600,000 plus interest at 6.10% to 6.90% through Debt December 1, 2002. Service 4,300,000 300,000 4,000,000 $4,165,000 Corporate Purpose Bonds Series of 1991 dated Water- December 1, 1991 due in annual works 3,298,800 400,000 2,898,800 installments of $50,000 to $600,000 plus interest at 6.10% to 6.90% Debt through December 1, 2002. Service 466,200 466,200 (Continued) VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 33., 1993 NOTE 8 - LONG-TERM DEBT (Continued) General Obligation Bonds: (Continued) Fund Debt Balances Balances Issue Retired By lanuarV 1 Issuances Reductions December 31 $2,895,000 Corporate Purpose Bonds Series of 1992 dated April 1, 1992 due in annual installments of $10,000 to $255,000 plus interest at Whole- 4.00% to 5.90% through sale December 1, 2012. Water $ 2,895,000 $ $ 10,000 $ 2,885,000 $7,635,000 Corporate Purpose Bonds dated May 1, 1993 due in annual installments of $205,000 to $1,345,000 plus interest at 4.60% to Debt 4.70% through December 1, 2005. Service 7,635,000 7,635t000 $ 19,985,000 $ 7,635,000 $ 1,485t000 $ 26,135,000 (Continued) VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1993 - LONG-TERM DEBT (Continued) Service Requirements to Maturity service requirements to maturity are as debt follows: General Obligation Fiscal Year General Bonds Carried Ending Obligation as Enterprise December 31 Bonds Fund Liabilities Total 1994 $ 2,184,023 $ 1,219,871 $ 3,403,894 1995 2,078,582 1,511,240 3,589,822 1996 2,271,630 1,303,247 3,574,877 1997 2,333,582 1,247,675 3,581,257 1998 2,530,307 653,410 3,183,717 1999 2,510,000 583 509 3,093,509 2000 2,417,036 267 524 2,684,560 2001 2,297,450 265 444 2,562,894 2002 2,304,826 262 944 2,567,770 2003 1,975,786 270 014 2,245,800 2004 1,979,436 266 024 2,245,460 2005 1,408,216 266 574 1,674,790 2006 266 334 266,334 2007 265 284 265,284 2008 268 490 268,490 2009 270 720 270,720 2010 266 860 266,860 2011 267 340 267,340 2012 271t830 271,830 principal and interest $ 26,290,874 $ 9,994,334 $ 36,285,208 portion $ 7,289,674 $ 2,860,534 $ 10,150,208 (CoD tinued ) VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1993 NOTE 8 - LONG-TERM DEBT (Continued) Legal Debt Margin The Government is a home rule municipality. Chapter 65, Section 5/8-5-1 Illinois Compiled Statutes governs computation of the legal debt 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. Advance Refunding - General Obligation Bonds On November 19, 1991, the Government passed an ordinance providing for the issuance of $4,165,000 General Obligation Bond Series of 1991 and the levy and collection of a direct annual tax for the payment of principal and interest on the bonds. On December 1, 1991, the Government passed an ordinance directing the execution of an escrow agreement in order to partially refund $875,000 of Library Bond Series of 1984 issued by the Government and outstanding in the aggregate principal amount of $1,650,000. Proceeds in the amount of $946,182 from the refunding bonds were used to execute the escrow agreement. The long-term debt is recorded in the General Long-Term Debt Account Group. Current principal and interest requirements are accounted for in the Debt Service Fund. Proceeds in the amount of $3,171,875 were used to call the entire amount of outstanding 1979 Corporate Purpose Bonds ($3,425,000) on January 2, 1992. Although there has been no legal defeasance (satisfaction of debt) in this transaction, all conditions which normally satisfy defeasance of the $875,000 of the Library Bond Series of 1984 have been met. These provisions include: Proceeds of the new debt have been placed in an irrevocable trust with a reputable trustee for the primary purpose of satisfying old debt at a specified future date. An escrow agreement has been entered into with American National Bank and Trust company of Chicago. (Continued) 25 VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1993 NOTE 8 - LONG-TERM DEBT (Continued) Advance Refunding - General Obligation Bonds (Continued) The proceeds of the new debt are invested in direct U.S. Treasury obligations with maturities that approximate the Debt Service Requirements of the original issue. ' The proceeds in escrow are not subject to lien for any purpose other than in connection with the advance refunding transaction. Since the requirements which normally satisfy defeasance have been met, the financial statements reflect satisfaction of the original liability through the irrevocable transfer to an escrow agent of an amount computed to be adequate to meet the future Debt Service Requirements of the Issue. Schedule of Future Requirements - Library Bond Series of 1984 to be paid from escrow: Fiscal Year Ending Interest December 31 Rates Principal 1995 9.75 $ 275,000 1996 9.90 275,000 1997 3.0.00 275,000 Noncommitment Debt Special Service Area Bonds: Special service area bonds outstanding as of the date of this report totaled $1,191,230. These bonds are not an obligation of the Government and are secured by the levy of special assessments on the real property within the special assessment area. The Government is in no way liable for repayment but is only acting as agent for the property owners in levying and collecting the assessments and forwarding the collections to bondholders. (Continued) 26 VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1993 NOTE 9 - CONTRACTUAL COMMITMENTS High-Level Excess Liability Pool (HELP) The Government has committed to purchase excess liability insurance from the High-Level Excess Liability Pool (Agency), a public entity risk pool for certain Illinois municipalities. The Government expects to pay the following minimum amounts (these amounts represent the Government's share of the principal and interest - "fixed costs" - of the Agency): Fiscal Year Ending December 31 Amount 1994 $ 39,831 1995 40,862 1996 41,679 1997 40,842 1998 41,308 These amounts have been calculated using the Government's current allocation percentage of 5.73%. In future years this allocation percentage will be subject to change, because the Agency's Agreement provides that each year Members will be assessed based upon a formula which specifies the following four criteria for allocating premium costs: Miles of Streets Full-Time Equivalent Employees Number of Motor Vehicles Operating Revenues Solid Waste Agency of Northern Cook County (SWANCC): The Government has committed to pay its share of the annual operating costs and fixed costs of the SWANCC. The Government's share of dual costs is expected to be funded through tipping fees paid by refuse haulers. The Government expects to be delivering refuse to the Agency beginning May of 1995. Cost projection amounts are not yet available for 1995. The Agency has entered into Solid Waste Disposal Contracts with member municipalities. The Contracts are irrevocable and may not be terminated or amended except as provided in the Contract. Each member is obligated, on a "take or pay" basis, to purchase or in any event to pay for a minimum annual cost of the system. The obligation of the Government to make all payments as required by this Contact is unconditional and irrevocable, without regard to performance or nonperformance by the Agency of its obligations under this Contract. (Continued) VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1993 NOTE 10 - INTERFUND ASSETS/LIABILITIES Due From/To Other Funds Receivable Fund Payable Fund Amount General Illinois Municipal Retirement $ 1,062,919 Refuse and Collection 225,000 Glenview Naval Air Station 10,000 Capital Equipment Replacement 119,908 Police Pension 170,000 Escrow 93,304 Library Bond Corporate Purpose Bond Series of 1990 89,921 Corporate Purpose Bond Series of 1993 208,145 Corporate Purpose Bond Series of 1989 Corporate 275,413 Waterworks 260,384 Corporate Purpose Bond Series of 1990 Illinois Municipal Retirement 489,717 Waterworks 70,828 Special Service Area 13,403 Corporate Purpose Bond Series of 1993 Bond Ftmd Series 1993 25,462 Capital Projects Sewerage 40,000 Waterworks Capital Equipment Replacement 13,674 Wholesale Water 10,197 Wholesale Water Capital Projects 429,217 Escrow Illinois Municipal Retirement 150,000 Refuse and Recycling 60,000 911 Communications 55~000 $ 3~872t492 Advances From/To Other Funds Recei;,able Fund Payable Fund Amount Waterworks Capital Equipment Replacement $ 310,753 Capital Projects 328,730 Sewerage Capital Equipment Replacement 103,499 $ 742,982 (Continued) VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1993 NOTE 11 - SEGMENT INFORMATION - ENTERPRISE FUNDS The Government maintains the following enterprise funds which are intended to be self- supporting through user fees charged for services to the public. Financial segment information as of the date of this report and for the fiscal year is as follows: Commuter Wholesale Parking Lot Totals Waterworks Water Sewerage __ Operating revenues $ 5,387,027 $ 1,123,154 $ 511,869 $ 104,830 $ 7,126,880 Depreciation, and amortization expense 411,477 49,116 72,389 5,252 538,234 Operating income 1,179,495 318,281 114,946 6,432 1,619,154 Operating transfers in Operating transfers out 545,458 97,279 642,737 Net income 439,494 139,321 27,128 12,507 618,450 Current capital contributions 179,084 179,084 Current capital transfers Plant, property, and equipment Additions 416,995 1,097,439 429,674 1,944,108 Deletions 47,871 47,871 Total assets 17,207,659 3,077,675 3,576,633 370,304 24,232,271 Net working capital 2,266,229 535,478 270,946 261,333 3,333,986 Bonds and other long-term Liabilities Payable from operating revenues 4,248,800 2,885,000 7,133,800 Payable from other sources Total equity 11,948,123 139,321 3,536,633 358,537 15,982,614 (Continued) VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1993 NOTE 12 - CONTRIBUTED CAPITAL During the current year, contributed capital increased by the following amounts: Waterworks Sewerage Totals Increases Improvements - Capital Projects $ $ 179,084 $ 179,084 Decreases Net Increases 179,084 179,084 Contributed Capital January I 2,386,154 712,005 3,098,159 December 31 $ 2,386,154 $ 891,089 $ 3,277,243 NOTE 13 - FUND EQUITY Restatements During the year, the Government restated Fund Balance and Retained Earnings in the Debt Service Funds and Water Fund to appropriately record Interest Payable and Bonds Payable. The Government also restated the General Long-Term Debt Account Group to account for the change in Bonds Payable. The effect on excess of revenues over expenditures/net income for the year ended December 31, 1992 is $2,759, $-, and $-, respectively, with no effect for the year ended December 31, 1993. As Reported Changes As Restated December 31, Due to December 31, 1991 Restatement 1991 Debt Service Funds Debt Service Fund Accrued interest payable $ $ 67,177 $ 67,177 Fund balance 767,170 (67,177) 699,993 Enterprise Fund Waterworks Fund General obligation bonds payable 3,698,800 324,450 4,023,250 Retained earnings 8,806,510 (324,450) 8,482,060 General Long-Term Debt Account Group Amount available for debt service 767,170 (67,177) 699,993 Amount to be provided for retirement of long-term debt 12,732,155 (257,273) 12,474,882 General obligation bonds payable 13,674,650 (324,450) 13,350,200 (Continued) 3o VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1993 NOTE 13 - FUND EQUITY (Continued) Merger of Fire Protection District As of September 1, 1992, the Glenbrook Fire Protection District (District) was merged into the Government. Under the agreement, the District turned over all its assets and its employees became employees of the Government. The District will continue to levy property taxes for the unincorporated area outside the Govemment's limits for which the Government will now provide fire protection services. The tax receipts will then be turned over to the Government as payment for those services. NOTE 14 - CONTINGENT LIABILITIES Litigation: The Government is a defendant in various lawsuits. Although the outcome of these lawsuits is not presently determinable, in the opinion of the Government's attorney the resolution of these matters will not have a material adverse effect on the financial condition of the Government. Grants: Amounts received or receivable from grantor agencies are subject to audit and adjustment by grantor agencies, principally the federal government. Any disallowed claims, including amounts already collected, may constitute a liability of the applicable funds. The amount, if any, of expenditures which may be disallowed by the grantor cannot be determined at this time although the Government expects such amounts, if any, to be immaterial. High-Level Excess Liability Pool (HELP): The Government's agreement with the High-Level Excess Liability Pool provides that each member is liable for its proportionate share of any costs arising from defaults in payment obligations by other members. Solid Waste Agency of Northern Cook County (SWANCC): The Government's contract with the Solid Waste Agency of Northern Cook County provides that each member is liable for its proportionate share of any costs arising from defaults in payment obligations by other members. (Continued) VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1993 NOTE 15 - JOINT VENTURES Regional Emergency Dispatch Center Description of loint Venture The Regional Emergency Dispatch Center is a governmental joint venture used to account for the resources involved in dispatching fire and medical emergency services to a six community area. This fund is supported by contributions from the seven member departments. As of December 31, 1993, the Regional Emergency Dispatch Center served the fire departments of: Village of Glenview Village of Morton Grove Village of Niles Village of Northbrook Glenbrook Fire Protection District North Maine Fire Protection District Prospect Heights Fire Protection District Management consists of a Board of Directors comprised of one appointed representative from each member. In addition, day to day operations are administered by the Fire Chiefs of each member district. The Government does not exercise any control over the activities of the Center beyond its the Board of Directors. representation on Summary Financial Information of Joint Venture The latest available financial statements of the Center, dated December 31, 1993, show the following: Government's Total Share Total Assets $ 328~415 $ 105~421 Total Liabilities 16,206 5,202 Total Equity 312,209 100~219 Total Liabilities and Equity 328f415 105,421 Total Revenues 649,509 208,488 Total Expenditures 649,692 208,551 Initial contributions are determined in advance of each membership year based on the population within each member's district. (Continued) 32 VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1993 NOTE 15 - JOINT VENTURES (Continued) Solid Waste Agency of Northern Cook County (SWANCC): Description of Joint Venture The Government is a member of the Solid Waste Agency of Northern Cook County (the "Agency") which consists of twenty-three municipalities. The Agency is a municipal corporation and public body politic and corporate established pursuant to the Constitution of the State of Illinois and the Intergovernmental Cooperation Act of the State of Illinois, as amended, (the "Act"). The Agency is empowered under the Act to plan, construct, finance, operate and maintain a solid waste disposal system to serve its members. The members of the Agency and their percentage shares based on formulae contained in the Agency agreement as of April 30, 1993 are: % % Share Share Arlington Heights 10.13% Mount Prospect 8.86% Barrington 1.40 Niles 2.61 Buffalo Grove 5.90 Palatine 12.33 Elk Grove Village 4.57 Park Ridge 4.10 Evanston 7.28 Prospect Heights 1.11 Glencoe 1.20 Rolling Meadows 2.74 Glenview 5.85 Skokie 5.54 Hoffman Estates 6.17 South Barrington .64 Inverness 1.52 Wheeling 4.63 Kenilworth .92 Wilmette 4.05 Lincoinwood 1.87 Winnetka 3.80 Morton Grove 2.78 100.00% These percentage shares are based on waste estimates for the year 2003 and cannot be changed for the term of the Agency Agreement. The members form a contiguous geographic service area which is located northwest of downtown Chicago. Under the Agency Agreement, additional members may join the Agency upon the approval of each member. (Con tinued) 33 VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1993 NOTE 15 - JOINT VENTURES (Continued) Solid Waste Agency of Northern Cook County {SWANCC): (Continued) Description of loint Venture The Agency is governed by a Board of Directors which consists of one appointed Mayor or President from each member Each Director has vote. The officers of the municipality. an equal Agency are appointed by the Board of Directors. The Board of Directors determines the general policy of the Agency, makes all appropriations, approves contracts, adopts resolutions for the issuance of Bonds or Notes the by-laws, rules and providing by Agency, adopts regulations, and exercises such powers and performs such duties as may be prescribed in the Agency Agreement or the by-laws. Summary of Financial Information of Joint Venture Summary of Financial Position as of April 30, 1993: Assets Liabilities and Fund Equity Current assets Current liabilities Cash and investments $ 161,156 Accotmts payable $ 644,752 Receivables and other 33,282 Accrued interest payable 2,258,247 194t438 Retainage payable 554,670 Deferred interest income 340,583 3,798,252 Restricted assets Long-term liabilities Cash and investments 34,999,397 Bonds payable 61,900,000 Accrued interest Unamortized discount (1,776,203) receivable 46,962 Deferred interest income 485t071 35,046,359 60,608,868 Total liabilities 64,407,120 Other assets Deferred project costs-net 21,277,098 Unamortized bond Fund equity issuance cost 1,230,348 Contributed capital 3,341,908 Land 6,669,479 Construction in progress 3,331,306 Total liabilities 32,508,231 Total assets $ 67,749,028 and fund equity $ 67,749,028 (Continued) VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1993 NOTE 15 - JOINT VENTURES (Continued) Solid Waste Agency of Northern Cook County (SWANCC): (Continued) Summary of Financial Information of Joint Venture (Continued) The Agency is being accounted for as a development stage enterprise; therefore, all costs incurred conjunction with the development of the Project have been capitalized as deferred costs, and no statement of operations or cash flows will be presented until operations commence in May 1995. Complete financial statements can be obtained from the Solid Waste Agency of Northern Cook County, 1616 E. Golf Road, Des Plaines, Illinois 60016. The Government made no payments to the Agency for the year ended December 31, 1993. NOTE 16 - DEFERRED COMPENSATION PLAN The Government offers its employees a deferred compensation plan created in accordance with Internal Revenue Code Section 457. The plan, available to all Government employees, permits them to defer a portion of their salary until future years. Participation in the plan is optional. The deferred compensation is not available to employees until termination, retirement, death or unforeseeable emergency. All amounts of compensation deferred under the plan, all property and rights purchased with those amounts, and all income attributable to those amounts, property, or rights are (until paid or made available to the employee or other beneficiary) solely the property and rights of the Government subject only to the claims of the Government's general creditors. Participants' rights under the plan are equal to those of general creditors of the Government in an amount equal to the fair market value of the deferred account for each participant. It is the opinion of the Government's legal counsel that the Government has no liability for losses under the plan but does have the duty of due care that would be required of an ordinary prudent investor. The Government believes that it is unlikely that it will use the assets to satisfy the claims of general creditors in the future. (Continued) 35 VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1993 NOTE 17 - POSTEMPLOYMENT BENEFITS In addition to providing pension benefits described, the Government provides postemployment health care and life insurance benefits for retired public safety employees. all of the Government's become for those Substantially public safety employees may eligible benefits if they reach normal retirement age while working for the Government. The cost of retiree health care and life insurance benefits is recognized as an expenditure as claims are paid. For the fiscal those costs total $66,716. The retirees annual which is year pay an premium equal to the actuarially determined cost for each plan year. Accordingly no liability has been recorded for post-retirement health care benefits. NOT£ 18 - EMPLOYEE RETIREMENT SYSTEMS Plan Descriptions and Provisions: Illinois Municipal Retirement The Government contributes to the Illinois Municipal Retirement Fund ("IMRF"), a defined benefit agent multiple-employer public employee retirement system that acts as a common investment and administrative agent for local governments and school districts in Illinois. The Government's total payroll for the year ended December 31, 1993, was $12,415,311. Of this amount, $6,142,697 in payroll earnings were reported to and covered by the IMRF system. All employees hired in positions that meet or exceed the prescribed annual hourly standard must be enrolled in IMRF as participating members. Pension benefits vest after eight years of service. Participating members who retire at or after age 60 with 8 years of service are entitled to an annual retirement benefit, payable monthly for life, in an amount equal to 1 2/3 percent of their final rate (average of the highest 48 consecutive months' earnings during the last 10 years) of earnings, for each year of credited service up to 15 years, and 2 percent for each year thereafter. IMRF also provides death and disability benefits. These benefit provisions and all other requirements are established by Illinois Compiled Statutes. Participating members are required to contribute 4.5 percent of their annual salary to IMRF. The Government is required to contribute the remaining amounts necessary to fund the coverage of its own employees in the System, using the actuarial basis specified by state statute (entry age normal); for 1993 the rate was 10.42 percent. (Continued) VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1993 NOTE 18 - EMPLOYEE RETIREMENT SYSTEMS (Continued) Plan Descriptions and Provisions: (Continued) Police Pension Police sworn personnel are covered by the Police Pension Plan which is a defined benefit single- employer pension plan. Although this is a single-employer pension plan, the defined benefits and employee and employer contributions levels are governed by Illinois Compiled Statutes (Chapter 40 - Article 5/3) and may be amended only by the Illinois legislature. The Government accounts for the plan as a pension trust fund. The Government's payroll for employees covered by the Police Pension Plan for the year ended December 31, 1993 was $2,890,155 out of a total payroll of $12,415,311. At December 31, 1993, the Police Pension Plan membership consisted of: Retirees and beneficiaries currently receiving benefits and terminated employees entitled to benefits but not yet receiving them 23 Current employees Vested 49 Nonvested 14 Total 86 Statutes.The following is a summary of the Police Pension Plan as provided for in Illinois Compiled 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. (Continued) VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1993 NOTE 18 - EMPLOYEE RETIREMENT SYSTEMS (Continued) Plan Descriptions and Provisions: (Continued) Police Pension (Continued) Covered employees are required to contribute 9% of their base salary to the Police Pension Plan. If leaves covered with less than of an employee employment 20 years service, accumulated employee contributions may be refunded without accumulated interest. The Government is required to contribute the remaining amounts necessary to finance the plan as determined enrolled the 2033 the Government's contributions actuarially by an By year must accumulate to the point where the past service cost for the Police Pension Plan is fully funded. Firefighters' Pension Fire sworn personnel are covered by the Firefighters' Pension Plan which is a defined benefit single-employer pension plan. Although this is a single-employer pension plan, the defined benefits as well as the employee and employer contributions levels are mandated by Illinois Compiled Statutes (Chapter 40 - Article 5/3) and may be amended only by the Illinois legislature. The Government accounts for the plan as a pension trust fund. The Government's payroll for employees covered by the Firefighters' Pension Plan for the year ended December 31, 1993 was $3,733,309 out of a total payroll of $12,415,311. At December 31, 1993 the Firefighters' Pension Plan membership consisted of: Retirees and beneficiaries currently receiving benefits and terminated employees entitled to benefits but not yet receiving them 18 Current employees Vested 58 Nonvested 24 Total 100 The following is a summary of the Firefighters' Pension Plan as provided for in Illinois Compiled Statutes. (Continued) 38 VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1993 NOTE 18 - EMPLOYEE RETIREMENT SYSTEMS (Continued) Plan Descriptions and Provisions: (Continued) Firefighters' Pension (Continued) The Firefighters' Pension Plan provides retirement benefits as well as death and disability benefits. Employees attaining the age of 50 or more with 20 or more years of creditable service are entitled to receive a monthly retirement benefit of one-half of the monthly salary attached to the 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 Firefighters' Pension Plan. If an employee leaves covered employment with less than 20 years of service, accumulated employee contributions may be refunded without accumulated interest. The Government is required to contribute the remaining amounts necessary to finance the plan as actuarially determined by an enrolled actuary. By the year 2033 the Government's contributions must accumulate to the point where the past service cost for the Firefighters' Pension Plan is fully funded. Summary of Significant Accounting Policies and Plan Asset Matters: Basis of Accounting - The financial statements are prepared using the accrual basis of accounting. Employee and employer contributions are recognized as revenues in the period in which employee services are performed. Method Used to Value Investments - Fixed-income securities are reported at amortized cost with discounts or premiums amortized using the effective interest rate method, subject to adjustment for market declines judged to be other than temporary (lower of cost or market). Investment income is recognized as earned. Gains and losses on sales and exchanges of fixed- income securities are recognized on the transaction date. Equity securities are reported at cost subject to adjustment for market declines judged to be other than temporary (lower of cost or market). (Continued) 39 VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1993 NOTE 18 -EMPLOYEE RETIREMENT SYSTEMS (Continued) Summary of Significant Accounting Policies and Plan Asset Matters: (Continued) Investments There investments (other than U.S. Government and U.S. Significant are no Government-guaranteed obligations) in any one organization that represent 5 percent or more of net assets available for benefits. Funding Status and Progress: The amount shown below as the "pension benefit obligation" for the IMRF Plan is a standardized disclosure measure of the present value of pension benefits, adjusted for the effects of projected salary increases and step-rate benefits, estimated to be payable in the future as a result of employee service to date. The measure is intended to help users assess the funding status of the system on a going-concern basis, assess progress made in accumulating sufficient assets to pay benefits when due, and make comparisons among employers. The measure is the actuarial present value of credited projected benefits and is independent of the funding method used to determine contributions to the System. The amount shown below as the "pension benefit obligation" for the Police Pension Plan and the Firefighters' Pension Plan is a substitute disclosure measure (entry age normal), the actuarial accrued liability of the present value of pension benefits, adjusted for the effects of projected salary increases and step-rate benefits, estimated to be payable in the future as a result of employee service to date. This substitute disclosure measure is intended to help users assess the funding status of the system on a going-concern basis, assess progress made in accumulating sufficient assets to pay benefits when due, and made comparisons among other employers using the substitute disclosure method. The substitute disclosure measure is independent of the funding method used to determine contributions to the System. Municipal Police Firefighters' Retirement Pension Pension Actuarial valuation date December 31, January 1, January 1, 1993 1993 1993 Significant actuarial assumptions a) Rate of return on investment 7.50'!4, 8.00% 8.00'!/o of present and future assets compounded compounded compounded annually armually am~ually (Continued) VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1993 NOTE 18 - EMPLOYEE RETIREMENT SYSTEMS (Continued) Funding Status and Progress (Continued) Illinois Municipal Police Firefighters' Retirement Pension Pension b) Projected salary 4.25% ] 5.5% 5.5% increases - attributable compounded ] compounded compounded to inflation annually ] annually annually ] c) Additional projected ] salary increases - .6% to 6.8% ] (Note - separate information attributable to depending on ] for b) and c) not available) seniority/merit age and service ] attributable to ] seniority and ] merit ] d) Post-retirement benefit 3.00% 3.00% 3.00% increases compounded compounded annually annually Illinois Fire- Totals Police fighters' (Memorandum Municipal Retirement Pension Pension Only) Pension benefit obligation Retirees and beneficiaries Currently receiving benefits and terminated (Note A) (Note B) (Note B) Employees not yet receiving benefits $ 730,131 S 5,073,747 $ 3,101,808 $ 8,905,686 Current employees Accumulated employee Contributions including allocated investment earnings 2,784,172 2,070,576 2,792,031 7,646,779 Employer - financed vested 4,896,297 4,384,248 7,990,760 17,271,305 Employer - fin~mced nonvested 717,958 1,251,799 2~005,717 3~975~474 (Continued) VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1993 NOTE 18 - EMPLOYEE RETIREMENT SYSTEMS (Continued) Funding Status and Progress (Continued) Fire- Totals Illinois Municipal Police fighters' (Memorandum Retirement Pension Pension Only) Total pension benefit obligation $ 9,128,558 $ 12,780,370 $ 15,890,316 $ 37,799,244 Net assets available for benefits 7,161t743 12t603t771 20~918,004 40~683~518 (Market values) (IMRF $ 8,004,893) (Police 12,918,865) (Firefighters' 21,440,954) (Totals $ 42t364~712) Unfunded (assets in excess of) pension benefit obligation $ 1~966,815 $ 176,599 $ (5,027,688) $ (2,884~274) (Note A) The pension benefit obligation applicable to retirees and beneficiaries currently receiving benefits is not included in the above schedule due to the fact that this obligation was transferred from the government to IMRF as a whole when the annuity became payable. (Note B) The "pension benefit obligation" applicable to the Plan is the actuarial accrued liability, a measure. substitute disclosure 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 pension benefit obligation shown above. This amount has been calculated by the System's 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. Police Pension: The current year changes to plan provisions resulted in an increase in the pension benefit obligation (PBO) of $393,426 as compared to the amount of the PBO calculated irrespective of such changes. The changes in the interest rate and salary scale assumption from 8.5% and 6.0%, respectively, for January 1, 1992 to 8.0% and 5.5% respectively, for January 1, 1993 resulted in an increase in PBO of S495,892. (Continued) VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1993 NOTE 18 - EMPLOYEE RETIREMENT SYSTEMS (Continued) Funding Status and Progress (Continued) Firefighter's Pension: The addifion of Glenbrook Fire Protection District increased the Projected Benefit Obligation (PBO) by $6,567,006. The amendments to plan provisions further increased the PBO by $200,126. Finally, the change in the interest and salary scale assumptions from 8.5% to 6.0%, respectively, for January 1, 1992 to 8.0% and 5.5%, respectively for January 1, 1993 generated an increase in the PBO of $624,889 as compared to the amount of the PBO calculated irrespective of such changes. Contributions Required and Contributions Made Illinois Municipal Retirement, Police Pension, and Firefighters' Pension The Systems' funding policy provides for actuarially determined periodic contributions at rates that, for individual employees, accumulate assets gradually over time so that sufficient assets will be available to pay benefits when due. The rate for the Government's employee group as a whole has tended to remain level as a percentage of annual covered payroll. The contributions rate for normal cost is determined using the entry age normal actuarial fm~ding method. The IMRF System used for level percentage of payroll method, while the Police Pension and Firefighters' Pension Systems used a level dollar amount method to amortize the unfunded l/ability over a 40 year period. The significant actuarial assumptions used to compute the actuarially determined contribution requirements are the same as those used to compute the pension benefit obligation as described above. Illinois Totals Municipal Police Firefighters' (Memorandum Retirement Pension Pension Only) Actuarial valuation date December 31, January 1, January 1, 1993 1993 1993 Actuarially determined contribution requirement As a dollar amount Employer Normal cost $ 432,446 $ 290,143 $ 460,390 $ 1,182,979 Amortization of unfunded actuarial accrued liability 143,125 43,003 (176,441) 9,687 Death and disability cost 26,414 26,414 Supplemental retirement benefit 38r085 38r085 640,070 333,146 283,949 1,257,165 Employee - normal cost 276,421 260,114 307,998 844,533 $ 916,491 $ 593,260 $ 591,947 $ 2,101.698 (Continued) VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1993 NOTE 18 - EMPLOYEE RETIREMENT SYSTEMS (Continued) Contributions Required and Contributions Made (Continued) Illinois Fire- Totals Municipal Police fighters' (Memorandum Retirement Pension Pension Only) Actuarial determined contribution requirements (Continued) As a % of current covered payroll Employer Normal cost 11.54% 10.04% 12.33% 9.27% Amortization of unfunded actuarial accrued liability 2.33 1.49 (4.73) .07 Death and disability cost .43 .21 Supplemental retirement benefit .62 .29 14.92 11.53 7.60 9.84 Employee - normal cost 4.50 9.00 8.25 6.62 19.42% 20.53% 15.84% 16.00% Contribution made As a dollar amount Employer $ 640,070 $ 247,148 $ 109,670 $ 996,888 Employee 276~421 260~114 307~998 844~533 $ 916,49~1 $ 507,262 $ 417,668 $ 1~841,421 As % of covered current payroll Employer 14.92% 8.56% 2.94% 7.81% Employee 4.50 9.00 8.25 6.62 19.42% 17.56% 11.19% 14.23% Effects on the Contribution Requirements of Current-Year Changes Illinois Municipal Retirement The new actuarial assumptions based on the 1990 - 1992 Experience Study were adopted in 1993. The changes will be incorporated into the 1995 contribution rates. The net effect of changes adopted in 1993 is estimated to be $(113,072). (Continued) VILLAGE OF GLENVIEW, ILLINOIS Notes to Financial Statements December 31, 1993 NOTE 18 - EMPLOYEE RETIREMENT SYSTEMS (Continued) Trend Information: Trend information gives an indication of the progress made in accumulating sufficient assets to pay benefits when due. Ten-year trend information may be found in the supplemental section of the Govemments annual financta report. For Illinois Totals Fiscal Municipal Police Firefighters' (Memorandum Year Retirement Pension Pension Only) Net assets available for benefits as a % of the Pension Benefit 1991 69.45% 109.19% 136.64% 104.99% Obligation (PBO) 1992 75.54 108.32 137.81 106.60 1993 78.45 98.62 131.64 107.63 Unfunded (assets in excess of) PBO as a % of annual covered payroll (expressing the unfunded pension benefit obligation as a percentage of armual covered payroll approx- imately adjusts for the effects of 1991 41.58 (31.66) (126.01) (10.75) inflation for analysis purposes) 1992 34.94 (32.99) (116.46) (16.03) 1993 32.02 6.11 (134.67) (22.59) Employer contributio~xs As a % of annual covered payroll 1991 11.45 .90 2.37 6.72 1993 11.71 .99 2.55 6.99 1993 14.92 8.56 2.94 7.81 Required 1991 $ 613,960 $ 201,364 $ $ 815,324 1992 678,612 216,530 895,142 1993 640,070 333,146 283,949 1,257,165 Made 1991 613,961 26,039 47,393 687,393 1992 678,613 26,938 63,262 768,813 1993 640,070 247,148 109,670 996,888 I I I I I I I I I I I I I I I I I I i GOVERNMENTAL FUND TYPES I I I I I I I I I I I I I I I I I I GENERAL FUND I GENERAL FUND The General Fund, also referred to as the Corporate Fund, is used to account for resources traditionally associated with governmental services not required to be accounted for in another fund. VILLAGE OF GLENVIEW, ILLINOIS General Fund Balance Sheet December 31, 1993 (with comparative totals for 1992) 1993 1992 ASSETS Cash and investments $ 5,470,725 $ 5,376,561 Receivables Taxes Property taxes 3,838,669 3,576,692 Sales tax 771,866 559,886 Income tax 169,444 90,639 Utility taxes 229,495 301,549 Replacement taxes 10,679 Accounts 4,467 1,131 Other 69,489 100,835 Due from other funds 1,681,131 1,308,315 Prepaid items 5,356 5,356 Investment in land held for resale 725,000 725,000 Total assets $ 12~965f642 $ 12,056f643 LIABILITIES AND FUND BALANCE Liabilities Accounts payable $ 87,908 $ 106,566 Accrued payroll 42,129 32,066 Compensated absences payable 475,581 488,695 Due to other funds 275,412 425,413 Deferred revenues 3,829,283 3,576~692 Total liabilities 4~710t313 4~629~432 Fund Balance Reserved for prepaid items 5,356 5,356 Reserved for land held for resale 725,000 725,000 Unreserved Designated for income tax surcharge receipts 2,662,708 2,166,107 Undesignated 4~862,265 4,530,748 Total fund balance 8t255t329 7~427~211 Total liabilities and fund balance $ 12,965,642 $ 12,056~643 See accompanying notes to financial statements. VILLAGE OF GLENVIEW, ILLINOIS General Fm~d Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended December 31, 1993 (with comparative totals for 1992) ............... 1993 ................ 1992 Budget Actual Actual Revenues Taxes $ 13,127,790 $ 14,222,515 $ 12,884,018 Licenses and permits 960,600 1,042,608 964,643 Intergovernmental 1,762,779 1,223,942 858,383 Charges for services 791,628 798,448 635,949 Fines and forfeits 345,000 256,408 343,925 Interest 170,000 155,002 154,277 Miscellaneous 51,100 41,531 50,277 Total revenues 17,208,897 17,740,454 15,891,472 Expenditures General 3,214,941 3,088,463 2,968,999 government Public safety 9,650,955 9,323,267 8,463,915 Highways and streets 3,454,663 3,296,632 3,118,970 Total expenditures 16,320,559 15,708,362 14,551,884 Excess of revenues over expenditures 888,338 2,032,092 1,339,588 Other financing sources (uses) Operating transfers in (out) Capital Equipment Replacement Fund (722,835) (710,198) (621,257) Capital Projects Fund (450,500) (551,890) (537,522) Bond Fund Series 1989 725,000 Police Pension Fund (28,582) (26,938) Firefighters' Pension Fund (38,039) (18,128) Escrow Deposit Fund 124,735 163,504 (1,173,335) (1,203,974) (315,341) Excess (deficiency) of revenues and other financing sources over expenditures and other financing uses $ (284,997) 828,118 1,024,247 Fund balance January 1 7,427,211 6,394,165 Residual equity transfers in 8,799 December 31 $ 8,255,329 $ 7,427,211 See accompanying notes to financial statements. 47 VILLAGE OF GLENVIEW, ILLINOIS General Frmd Schedule of Revenues - Budget and Actual Year Ended December 31, 1993 (with comparative totals for 1992) ............... 1993 ................ 1992 Budget Actual Actual Taxes Property taxes - current $ 3,543,390 $ 3,569,223 $ 3,428,918 Property taxes - prior 60,896 22,854 Replacement taxes 75,000 55,022 61,270 Sales tax 3,750,000 4,188,116 3,608,071 Utility tax 2,828,000 2,876,149 2,744,525 Illinois income tax 1,683,000 1,966,124 1,651,925 Road and bridge 140,000 126,796 117,701 Franchise taxes 237,000 250,806 237,259 Road and bridge - prior 1,377 411 Hotel room tax 600,000 531,405 497,567 Income tax surcharge 271,400 596,601 513,517 13,127,790 14,222,515 12~884~018 Licenses and permits Motor vehicle 431,000 437,943 443,602 Business 110,000 40,176 86,719 Liquor 80,000 75,500 55,336 Pet 5,700 5,430 5,708 Buildings 231,200 354,024 257,124 Electrical inspection 25,000 34,904 37,085 Plumbing and sewer 25,000 31,700 28,190 Plan review and elevator inspection 48,200 54,802 44,608 Driveway permits 4,500 8,129 6,271 960,600 1~042,608 964,643 intergovernmental Glenbrook Fire Protection District 1,645,164 1,119,035 797,314 Federal & state 117,615 104,907 61,069 1,762,779 1,223,942 858,383 Charges for services Administration $ 623,503 $ 623,503 $ 503,550 Engineering fees 110,000 72,073 92,282 Contractor's fees 1,000 47,476 Unclassified Public Works service 20,000 33,865 16,857 Other current service charges 37~125 21,531 23,260 791,628 798,448 635,949 (Continued) VILLAGE OF GLENVIEW, ILLINOIS General Fund Schedule of Revenues - Budget and Actual Year Ended December 31, 1993 (with comparative totals for 1992) ................ 1993 ................ 1992 Budget Actual Actual Fines and forfeits $ 345,000 $ 256,408 $ 343,925 Interest 170~000 155t002 154~277 Miscellaneous Sale of Village property 16,279 Other 51~100 25,252 50~277 51,100 41,531 50,277 Total revenues $ 17,208,897 $ 17,740,454 $ 15,891,472 - VILLAGE OF GLENVIEW, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 1993 Budget Actual General Government Board of Trustees $ 25,740 $ 18,723 Special Board 131,580 163,797 Legal and insurance 247,725 219,166 Emergency Service Disaster Agency 9,400 5,939 Village Manager 377,158 361,173 Finance 600,158 582,646 Municipal building and grounds 174,725 120,091 Personnel 1,648,455 1,616,928 3t214t941 3,088t463 Public safety Police department 4,476,205 4,394,534 Fire department 5,122,700 4,913,219 Printing 52,050 15t514 9,650,955 9~323,267 Highways and streets Development and public services Administration 138,788 139,094 Planning and zoning 111,150 110,126 Engineering 398,682 383,918 Public health 155,464 141,669 Public works - administration 208,118 186,465 Public works - overhead 709,671 731,612 Public works - street improvements 305,531 251,189 Public works - traffic 293,042 220,791 Public works - storm water management 134,192 96,617 Public works - snow and ice control 198,952 244,743 Public works - forestry 167,053 160,345 Public works - grounds 98,128 113,667 Building inspection 535,892 516,396 3,454,663 3z296t632 Total expenditures $ 16,320,559 $ 15,708,362 (Continued) VILLAGE OF GLENVIEW, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 1993 Budget Actual General Government Board of Trustees Regular salaries $ 3,000 $ 3,025 Training 1,000 126 Sign supplies 500 Trustee expense 17,940 12,692 Operational material and supplies 3t300 2,880 25,740 18f723 Special Board Contractual services 129,830 130,269 GNAS related expenses 33,269 Materials and supplies 1,000 259 Improvements other than building 750 131,580 163,797 Legal and insurance Contractual and professional services 93,400 39,661 Books 2,775 2,558 Dues, subscriptions, and memberships 700 451 Village Attorney retainer 41,100 41,100 Prosecutor retainer 29,750 29,750 Outside litigation 80,000 105~646 247,725 219~166 Emergency Service Disaster Agency Power and light 1,000 506 Telephone and telegraph 1,000 1,454 Maintenance of equipment 1,500 855 Office supplies 200 Books, pamphlets, and materials 200 47 Materials and supplies 1,000 565 Contingencies 1,000 Machinery and equipment 3,000 2,421 Small tools 500 91 9~400 5t939 (Continued) VILLAGE OF GLENVIEW, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 1993 Budget Actual General Government (Continued) Village Manager Regular salaries $ 265,355 $ 282,708 Temporary salaries 14,000 12,926 Longevity pay 1,150 1,150 Contractual professional services 1,500 Printing, binding, and publication 23,900 3,756 Postage 34,150 29,104 Dues, subscriptions, and memberships 19,065 17,035 Maintenance of equipment 1,050 785 Travel expense 5,780 3,833 Training expense 1,300 890 Books, pamphlets, and materials 300 121 Operational material and supplies 600 1,012 Computer supplies 1,000 896 Equipment repairs 6,008 4,726 Equipment replacement 5,600 5,600 Machinery or equipment 1,000 909 Furniture & fixtures 1,000 1,322 382,758 366,773 Less transfer to capital equ/pment replacement fund 5~600 5t600 377,158 361,173 Finance Regular salaries 397,812 392,474 Overtime salaries 2,500 2,002 Temporary salaries 24,350 25,777 Longevity pay 3,550 3,550 Contractual professional services 42,675 38,292 Printing, binding, and publication 10,000 18,484 Postage 7,000 5,465 Dues, subscriptions, and memberships 1,235 1,371 Telephone and telegraph 241 12 Car allowance 300 77 Maintenance of equipment 14,050 14,087 Rentals 30,600 28,773 Travel expense 4,545 3,638 Training expense 1,400 1,356 Office supplies 25,500 23,252 Cleaning/household supplies 245 Operational materials and supplies 165 (Continued) VILLAGE OF GLENVIEW, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 1993 Budget Actual General Government (Continued) Finance (Continued) Books, and materials $ 200 $ 411 pamphlets, Computer supplies 7,000 8,531 Other operating expense 2,000 1,235 Bank charges 200 791 Machinery and equipment 10,000 735 P.C. expansion 15,000 11,923 600,158 582,646 Municipal building and grounds Temporary salaries 1,500 Power and light 150 (4,722) Heating 18,000 12,872 Postage 26,000 18,997 Telephone 17,120 16,463 Maintenance of equipment 16,730 19,872 Maintenance of buildings 47,325 29,224 Rentals 9,450 9,476 Cleaning and household supplies 3,500 1,923 Maintenance materials - buildJ~gs 5,700 5,956 Small tools and equipment 200 Employee welfare 4,500 3,982 Equipment repairs 50 Buildings and improvements 24,500 6,048 174,725 120,091 Personnel Contractual professional services $ 21,750 $ 12,735 Telephone and telegraph 218 Public safety selection and promotion 25,575 20,511 Wellness program 12,200 Printing, binding, and publications 2,800 1,862 Dues, subscriptions, and memberships 495 500 Safety program 5,000 475 Travel 400 415 Training expense 33,000 32,976 Books, pamphlets and materials 4,500 6,277 Employee welfare 8,250 6,474 Insurance 1,534~485 1,534~485 lt648t455 1~616,928 TotalGeneral Government $ 3,214,941 $ 3~088,463 (Continued) VILLAGE OF GLENVIEW, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 1993 Budget Actual Public Safety Police department Regular salaries $ 3,475,718 $ 3,460,913 Overtime salaries 72,800 62,628 Overtime hire back 52,000 53,909 Overtime court time 83,200 62,441 Overtime training 4,300 1,581 Temporary salaries 124,140 114,361 Holiday pay 110,900 93,861 Longevity pay 34,050 33,438 Contractual professional services 78,190 83,670 Printing, binding, and publication 9,000 3,727 Heating 7,000 4,927 Postage 5,000 2,678 Telephone 23,759 20,614 Dues and subscriptions 3,370 2,410 Maintenance of equipment 50,000 44,977 Maintenance of buildings 1,700 885 Rentals 10,760 10,431 Travel expenses 6,410 8,988 Car allowance 300 10 Office supplies 4,250 3,459 Books, pamphlets, and materials 9,000 8,544 Training 44,202 46,260 Uniform allowance 45,550 45,497 Cleaning and household supplies 3,500 3,502 Maintenance materials - buildings 2,800 2,805 Operating materials and supplies 21,050 20,839 Computer supplies 1,118 P.C. expansion/training 2,500 3,619 Employee welfare 7,800 6,831 Equipment repairs 170,106 177,213 Machinery and equipment 11,500 7,731 Furniture and fixtures 1,350 667 Equipment replacement 217,577 217,577 4,693,782 4,612,111 Less transfer to Capital Equipment Replacement Fund 217,577 217,577 4~476,205 4~394,534 (Continued) 54 VILLAGE OF GLENVIEW, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 1993 Budget Actual Public Safety (Continued) Fire Department Regular salaries $ 3,992,066 $ 3,846,604 Overtime salaries 548 Overtime administrative 4,000 6,605 Overtime Acting Company Officer 15,000 10,654 Overtime call back 20,800 11,797 Overtime hire back 197,600 185,604 Overtime apparatus repair 3,000 1,008 Overtime fire prevention 1,500 379 Overtime public education 20,000 24,403 Overtime emergency medical service 27,500 18,431 Overtime hazardous material 5,000 3,621 Overtime FLSA 45,760 36,204 Overtime special rescue 4,000 6,820 Overtime dive team 9,000 7,089 Overtime training 40,500 17,748 Holiday pay 126,030 129,127 Longevity pay 48,100 44,639 Contractual professional services 242,700 220,819 Outside litigation 7,685 Printing, binding, and publication 1,500 987 Heating 3,500 7,685 Postage 600 79 Telephone 18,300 14,660 Dues, subscriptions, and memberships 1,900 1,883 Maintenance of equipment 26,100 18,775 Maintenance of buildings 23,000 19,753 Rentals 4,400 1,865 Iravel expenses 7,120 5,735 Training 15,350 10,421 G.F.P.D. legal costs 1,270 Uniform and turnouts 46,000 39,692 Office supplies 2,000 2,243 Texts and films 3,900 2,515 Motor vehicle supplies 6,000 3,346 Cleaning supplies 9,000 9,406 Maintenance materials - equipment 12,000 8,249 Maintenance materials - buildings 6,900 7,133 (Continued) 55 VILLAGE OF GLENVIEW, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 1993 Budget Actual Public Safety (Continued) Fire Department (Continued) Small tools and equipment $ 14,550 $ 15,887 Operating materials and supplies 15,800 13,523 Computer supplies 1,500 1,477 Employee welfare 3,500 3,371 Equipment replacement 253,368 253,368 Equipment repairs 56,509 115,121 Machinery and equipment 37,215 27,524 Furniture and fixtures 3,500 834.0 5,376,068 5,166,587 Less transfer to Capital Equipment Replacement Fund 253,368 253,368 5,122,700 4,913,219 Printing Overtime salaries 500 1084 Temporary salaries 3,000 Maintenance of equipment 5,450 3,226 Maintenance materials - equipment 1,000 38 Operating supplies ! 7,000 11,166 Small tools and equipment 100 Buildings/improvements to buildings 25,000 52,050 15,514 Total public safety $ 9,650,955 $ 9,323,267 (Continued) VILLAGE OF GLENVIEW, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 1993 Budget Actual Highways and Streets Development and public service Administration Regular salaries $ 132,472 $ 135,122 Printing binding publication 100 (1,519) Maintenance of copiers 400 369 Computer supplies 150 100 Dues, subscriptions, and memberships 905 652 Maintenance of equipment 320 278 Travel expense 1,500 1,483 Training 1,000 1,078 Office supplies 150 25 Books, pamphlets, and materials 200 136 Equipment replacement 3,000 3,000 Equipment repairs 1,591 lf370 141,788 142,094 Less transfer to Capital Equipment Replacement Fund 3f000 3,000 138,788 139,094 Planning and zoning Regular salaries 51,600 52,195 Temporary salaries 2,272 Contractual and professional services 40,000 36,849 Postage 39 Microfilms 1,000 2,182 Books pamphlets materials 200 142 Printing, binding, and publication 10,000 10,321 Dues, subscriptions, and memberships 3,850 4,118 Travel expense 1,500 961 Training 2,100 654 Operational supplies 400 367 P.C. expansion 500 26 111~150 110~126 Engineering Texts m~d films 3,900 2,515 Motor vehicle supplies 6,000 3,346 Cleaning supplies 9,000 9,406 (Continued) VILLAGE OF GLENVIEW, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 1993 Budget Actual Highways and streets (Continued) Development and public service (Continued) Engineering (Continued) Maintenance materials - equipment $ 12,000 $ 8,249 Maintenance materials - buildings 6,900 7,133 Contractual and professional services 6,625 797 Printing, binding, and publication 350 203 Dues, subscriptions, and memberslxips 900 942 Maintenance of equipment 760 339 Travel expense 2,000 2,064 Rentals 200 Microfilming 500 Training 3,100 1,750 Uniform allowance 1,175 620 Books, pamphlets, and materials 175 11 Operational materials 1,700 906 Computer supplies 1,000 954 Equipment replacement 12,600 12,600 Equipment repairs 8,178 5,756 Machinery and equipment 1,285 1,035 411,282 396,518 Less transfer to Capital Equipment Replacement Fund 12,600 12,600 398~682 383,918 Public health Regular salaries 134,760 128,505 Overtime salaries 1,000 76 Longevity pay 1,200 1,200 Rentals 80 65 Microfilming 500 Contractual professional services 450 617 Printing, binding, and publication 200 39 Telephone and telegraph 81 Dues, subscriptions, and membersl'fips 810 636 Maintenance of equipment 535 246 Travel expense 2,330 2,004 Training expense 1,035 674 Books, pamphlets, and materials 550 414 (Continued) 5s VILLAGE OF GLENVIEW, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 1993 Budget Actual Highways and streets (Continued) Development public (Continued) and service Public health (Continued) Small tools and equipment $ 300 $ 113 Operating supplies 2,500 432 materials and Equipment replacement 4,800 4,800 Computer supplies 600 445 Other operational 225 139 expense Machinery and equipment 3,200 3,198 Equipment repairs 5,189 2,785 Less transfer to Capital Equipment 160,264 146,469 Replacement Fund 4f800 4t800 155,464 141,669 Public works - administration Regular salaries 167,176 156,677 Overtime salaries 1,000 Temporary salaries 19,972 18,117 Longevity pay 950 950 Printing, binding, and publication 200 100 Dues, subscriptions, and memberships 500 440 Maintenance of equipment 1,450 433 Rentals 2,500 2,316 Travel expense 4,000 36 Training 3,000 2,737 Office supplies 2,000 781 Books, pamphlets, and materials 70 42 Operational materials and supplies 1,800 1,627 Computer supplies 800 1,053 Machinery and equipment 2t700 lt156 208f118 186,465 Public works - overhead Regular salaries 313,838 340,520 Overtime salaries 461 6,230 Temporary salaries 36,064 42,062 Longevity pay 8,900 8,900 (Continued) VILLAGE OF GLENVIEW, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 1993 Budget Actual Highways and streets (Continued) Development and public service (Continued) Public works - overhead (Continued) Power and light $ $ 498 14,000 12,129 Heating Telephone 7,910 10,884 Dues, subscriptions, and memberships 55 45 of equipment 6,000 3,399 Maintenance Maintenance of building improvements 8,750 11,365 Rentals 19,100 3.6,444 Travel expense 250 153 Training 2,500 373. Uniform allowance 9,625 9,457 Books, pamphlets, and materials 250 Cleaning supplies 4,000 3,621 Maintenance materials - buildings 4,000 4,366 Small tools and equipment 500 621 Operational materials and supplies 1,000 305 Employee welfare 2,000 1,362 Equipment replacement 182,653 182,653 Equipment repairs 209,468 207,181 Machinery and equipment 1,000 300 Automotive 60,000 51,399 892,324 914,265 Less transfer to Capital Equipment Replacement Fund 182,653 182,653 709,671 731,63.2 Public works - street improvements Regular salaries 212,274 164,328 Overtime salaries 8,448 8,890 Temporary salaries 18,009 10,272 Maintenance materials - buildings 15,000 14,170 Small tools and equipment 1,800 1,282 Operating materials and supplies 10,000 11,938 Maintenance of buildings 40t000 40~309 305,531 251,189 (Continued) 60 VILLAGE OF GLENVIEW, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended December 1993 31, Budget Actual Highways and streets (Continued) and service (Continued) Development public Public works - traffic Regular salaries $ 74,466 $ 70,451 Overtime salaries 7,591 2,125 Temporary salaries 3,085 903 Power and light 100,000 82,207 Maintenance of equipment 72,000 32,448 Maintenance of buildings 8,500 8,500 Rentals 400 307 Sign supplies 25,000 21,550 Small tools and equipment 54 Operating materials and supplies 2~000 2,246 293~042 220,791 Public works - storm water management Regular salaries 92,441 70,515 Overtime salaries 3,367 2,694 Temporary salaries 9,484 6,946 Maintenance of buildings 4,000 3,000 Maintenance materials - equipment 3,000 2,833 Small tools and equipment 500 261 Machinery and equipment 1,400 1,245 Operating materials and supplies 20,000 9~123 134,192 96t617 Public works - snow and ice control Regular salaries 67,182 76,150 Overtime salaries 50,647 39,690 Temporary salaries 2,473 1,624 Contractual professional services 1,650 525 Maintenance materials - equipment 13,500 12,868 Operating materials and supplies 63,500 113,886 Equipment replacement 20t000 20,000 218,952 264,743 Less transfer to Capital Equipment Replacement Fund 20~000 20,000 198,952 244,743 (Continued) 61 VILLAGE OF GLENVIEW, ILLINOIS General Fm~d Schedule of Expenditures - Budget and Actual Year Ended December 31, 1993 Budget Actual Highways and streets (Continued) Development and public service (Continued) Public works - forestry Regular salaries $ 140,728 $ 145,136 Overtime salaries 7,993 1,622 Temporary salaries 10,482 5,020 Contractual professional services 1,500 1,166 Dues, subscriptions, and memberships 350 210 Maintenance of equipment 1,000 528 Maintenance materials and equipment 2,000 254 Small tools and equipment 2,871 Operating materials and supplies 3,000 3,538 167,053 160,345 Public works - grounds Regular salaries 62,518 75,087 Overtime salaries 177 368 Temporary salaries 2,033 5,566 Contractual professional services 20,000 6,819 Maintenance of building/improvements 6,000 15,902 Maintenance materials-equipment 500 141 Small tools and equipment 400 1,008 Machinery and equipment 5,000 5,000 Operating materials and supplies 1,500 3,776 98fi28 113t667 Building inspection Regular salaries 474,804 467,313 Overtime salaries 6,000 3,298 Temporary salaries 3,202 Longevity pay 2,100 2,100 Contractual professional services 21,500 18,237 Printing, binding, and publication 1,500 310 Dues, subscriptions, and memberships 725 1,232 Maintenance of equipment 2,300 95 Microfilming 9,000 3,370 Travel 4,000 3,415 Training 4,000 3,385 Uniform allowance 1,100 512 (Continued) VILLAGE OF GLENVIEW, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 1993 Budget Actual I-Eghways and streets (Continued) Development and public service (Continued) Building inspection (Continued) Books, pamphlets, and materials $ 1,000 $ 1,325 Operating materials and supplies 2,500 2,422 Equipment replacement 10,600 10,600 Equipment repairs 5,363 6,180 546,492 526,996 Less transfer to Capital Equipment Replacement Fund 10,600 10f600 535,892 516,396 Total highways and streets $ 3,454,663 $ 3,296,632 63 I I I I I I I I I I I I I I I I I I SPEC~IAL I~IEVENUE FUNDS I SPECIAL REVENUE FUNDS 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 government's share of State gasoline taxes. State law requires these gasoline taxes to be used to maintain streets. Cable TV Fund - The Cable Television Fund is used to account for the financial activity of the public access cable system. Any governmental body or not-for-profit community organization will be permitted to broadcast public information or educational programming. The cable television management and staff is under the direct control of the Village of Glenview Board of Trustees. Refuse and Recycling Fund - The Refuse and Recycling Fund is used to account for the financial activity of the community wide recycling program. The program is designed to license and monitor prime scavenger services operating in the residential areas of the government. Their activities will mainly be involved with the collection and disposition of recyclable items. 911 Communications Fund - The 911 Communications Fund is used to account for the activity of the 911 emergency service system. Financial activity began in 1990 and the government anticipates the system to be operational in 1992. Glenview Naval Air Station - The Glenview Naval Air Station Fund is used to account for the resources and expenditures incurred in the search for future use of the Naval Air Base land which will be vacated by the Navy. VILLAGE OF GLENVIEW, ILLINOIS Illinois Municipal Retirement Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended December 31, 1993 Budget Actual Revenues Taxes Property taxes * current $ 570,000 $ 576,831 Replacement taxes 10,000 7,295 Intergovernmental 233,776 233,776 Interest 3,000 1,388 Miscellaneous Employee contributions 750,000 788,054 Total revenues 1,566,776 1,607,344 Expenditures Pension Retirement contributions 1,666,000 1,939,642 Other 7t206 7,206 Total expenditures It673,206 lt946,848 Excess (deficiency) of revenues over expenditures (106,430) (339,504) Other financing sources Operating transfers in Cable TV Fund 6,858 6,858 911 Communications Fund 17,861 17,861 Waterworks Fund 103,280 103,280 Sewerage Fund 16,751 16,751 144,750 144,750 Excess (deficiency) of revenues and other financing sources over expenditures $ 38,320 (194,754) Fund balance January 1 (1,165,972) December 31 $ (1,360,726) See accompanying notes to financial statements. 66 VILLAGE OF GLENVIEW, ILLINOIS Motor Fuel Tax Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended December 31, 1993 Budget Actual Revenues Intergovernmental Allotments $ 728,900 $ 846,268 Interest 18~000 17,126 Total revenues 746,900 863,394 Expenditures Excess of revenues over expenditures 746,900 863,394 Other financing sources (uses) Operating transfers (out) Capital Projects Fund (518,910) (668,742) Excess of revenues over expenditures and other financing uses $ 227,990 194,652 Fund balance January 1 944,542 December 31 $ 1,139t194 See accompanying notes to financial statements. VILLAGE OF GLENVIEW, ILLINOIS Cable TV Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended December 31, 1993 Budget Actual Revenues Interest $ 4,000 $ 1,874 Miscellaneous Cablenet programming agreement 47,000 48,929 Other lt430 Total revenues 51,000 52,233 Expenditures General government 58,165 57t877 Excess (deficiency) of revenues over expenditures (7,165) (5,644) Other financing (uses) Operating transfers (out) Illinois Municipal Retirement Fund (6,858) {6,858) Excess (deficiency) of revenues over expenditures and other financing uses $ (14,023) (12,502) Fund balance January 1 80,054 December 31 $ 67252 See accompanying notes to financial statements. 68 VILLAGE OF GLENVIEW, ILLINOIS Cable TV Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 1993 Budget Actual General government Regular salaries $ 36,840 $ 36,840 Postage 100 33 Telephone 430 Dues, subscriptions, memberships 600 645 Insurance 5,395 5,395 Maintenance of equipment 3,000 3,379 Rentals 200 268 Travel expense 1,000 1,114 Training 1,200 1,438 Books, pamphlets, materials 200 92 Operating materials and supphes 4,500 4,448 Computer supplies 2,000 1,425 Machinery and equipment 2,200 2,214 Furniture and fixtures 500 586 Total expenditures $ 58,165 $ 57,877 VILLAGE OF GLENVIEW, ILLINOIS Refuse and Recycling Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended December 31, 1993 Budget Actual Revenues Charges for services $ 48,500 $ 107392 Interest 2,000 1,566 Total revenues 50,500 108,958 Expenditures General government Contractual professional services 11,000 1,979 Refuse bag and bin purchase 37,500 97~380 Total expenditures 48,500 99~359 Excess of revenues over expenditures $ 2,000 9,599 Fund balance January 1 (94,817) December 31 $ (85,218) See accompanying notes to financial statements. 70 VILLAGE OF GLENVIEW, ILLINOIS 911 Communications Ftmd Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended December 31, 1993 Budget Actual Revenues Charges for services $ 273,500 $ 278,657 Interest 2~500 1,469 276,000 280,126 Total revenues Expenditures Public safety Regular employee salaries 95,340 95,340 Overtime salaries 3,000 3,380 Holiday pay 4,500 205 Longevity pay 750 750 Contractual professional services 89,440 1,800 Printing, binding, and publications 794 Telephone and telegraph 39,700 Maintenance of equipment 10,473 Materials and supplies 2,050 Machinery or equipment 17,400 9,369 Insurance 13~755 13,755 Total expenditures 226,235 175,566 Excess of revenues over expenditures 49,765 104,560 Other financing (uses) Operating transfers (out) Illinois Municipal Retirement Fund (17,861) (17,861) Capital Equipment Repair Fund (19,895) (19,895) (37,756) (37,756) Excess of revenues over expenditures and other financing uses $ 12,009 66,804 Fund balance January 1 3,534 December 31 $ 70,338 See accompanying notes to financial statements. I I I I I I I I I I I I I I I I I I I DEBT SERVICE FUNDS DEBT SERVICE FUNDS Library Bond Series of 1984 - This issue in the amount of $3,100,000 was used to construct an addition to the Library. Corporate Purpose Bond Series of 1989 - This issue in the amount of $8,000,000 was sold to finance various capital improvements including storm sewers, land acquisition, pavement improvements, and water related projects. Corporate Purpose Bond Series of 1990 - This issue in the amount of $4,500,000 was sold to finance the government's share of the Glenview Road reconstruction project. Moody's Investors Service has rated this general obligation bond issue AAA. Corporate Purpose Bond Series of 1991 - This issue in the amount of $4,165,000 was sold to finance the partial refunding of the Library Bond Series of 1984 and early retirement of the Corporate Purpose Bond Series of 1979. Corporate Purpose Bond Series of 1993 - This issue in the amount of $7,635,000 was sold to finance various capital projects throughout the Village including, but not limited to, the public works garage, various street projects, and capital purchases. I I I I I I I I I I I I I I I I I I CAPITAL PROJECT FUNDS CAPITAL PROJECTS FUNDS Capital Equipment Replacement Fund - The Capital Equipment Replacement Fund is used to account for the funds annually set aside for the eventual replacement of certain capital equipment. Capital Projects Fund o The Capital Projects Fund is used to account for revenues and expenditures involved with all other Capital Improvements throughout the government. Bond Fund Series 1989 - The Bond Fund Series 1989 is used to temporarily account for the proceeds received from the Corporate Purpose Bond Series of 1989. Bond Fund Series 1990 - The Bond Fund Series 1990 is used to temporarily account for the proceeds received from the Corporate Purpose Bond Series of 1990. Bond Fund Series 1993 - The Bond Fund Series 1993 is used to temporarily account for the proceeds received from the Corporate Purpose Bond Series of 1993. VILLAGE OF GLENVIEW, ILLINOIS Capital Projects Funds Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Year Ended December 31, 1993 (with comparative totals for 1992) (See Following Page) PROPRIETARY FUND TYPES I I I I I I I I I I I I I I I I i I ENTERPRISE FUNDS I ENTERPRISE FUNDS Waterworks - The Waterworks Fund is used to account for the provision of water and sewer service to the residents of Glenview. All activity necessary to provide such services is accounted for in this fund including, but not limited to, Administration (Director of Public works), Operation, Maintenance, Financing and related Debt Service, and Billing and Collection. Wholesale Water Fund - The Wholesale Water Fund is used to account for the provision of water service to the Citizens Utility Co. enabling the utility to receive Lake Michigan water. Sewerage Fund - The Sewerage Fund is used to account for the funds necessary to provide sanitary sewer service to both incorporated and unincorporated Glenview customers. Commuter Parking Lot Fund - The Commuter Parking Lot Fund accounts for the activity involved with, but not limited to, the Administration (Finance Director), sale of permits, and maintenance of the commuter parking facilities within the government. VILLAGE OF GLENVIEW, ILLINOIS Enterprise Funds Combining Balance Sheet December 31, 1993 (with comparative totals for 1992) Wholesale Commuter -Totals- ........ Waterworks Water Sewerage Parking Lot 1993 1992 ASSETS Current assets Cash andinvestments $ 1,221,329 $ 184,941 $ 106,755 $ 271,742 $ 1,784,767 $ 1,700,507 Receivables - accounts (net) 1,337,578 100,692 1,438,270 1,375.912 Advance to other funds 639.483 103,499 742,982 399.433 Due from other funds 23,871 429,217 453,088 2,577.697 Inventory 54.704 54,704 54.704 Prepaid expenses 1~358 lr358 1~358 3,276~965 614r158 310r946 273~100 4~475~169 61109~611 Fixed assets Cost 19,502,535 2.512,633 4,447,021 216,592 26,678,781 24,782,544 Accumulated depreciation (5~571,841) (49,116) (1,181~334) (119,388) (6,921,679) (6,431,316) 13,930~694 2~463~517 3.265~687 97~204 19~757z102 18~351~228 Total assets $17~207~659 $ 3~077~675 $ 3,576,633 $ 370.304 $ 24.232~271 $ 24.460t839 LIABILITIES AND FUND EQUITY Current liabilities Accounts payable $ 220.097 $ 53,659 $ $ 11,767 $ 285,523 $ 178,702 Interest payable 14,824 14,824 13,372 Compensated absences payable 14.170 14,170 7,696 Other payables 26.368 26,368 20,000 Due to other funds 750~101 10~197 40,000 800~298 1~239~702 1,010t736 78,680 40,000 11.767 1~141t183 1,459~472 Long-term liabilities General obligation bonds payable 4,248,800 2,885,000 7,133,800 7.843,800 Unamortized bond discount (25~326) (25~326) (27~503) 4,248,800 2~859~674 7~108,474 7,816,297 Total liabilities 5~259t536 2~938e354 40~000 11~767 8,249,657 9,275,769 Fund equity Contributed capital 2,386.154 891,089 3.277,243 3,098,159 Retained earnings 9~561~969 139t321 2,645~544 358~37 12f705,371 12r086,911 Total fund equity llr948r123 139~321 3~536,633 358.537 15r982e614 15,185e070 Total liabilities and fired equity $17,207,659 $ 3,077t675 $ 3~576,633 $ 370~304 $ 24f232,271 $ 24~460,839 See accompanying notes to financial statements. VILLAGE OF GLENVIEW, ILLINOIS Enterprise Funds Combining Statement of Revenues, Expenses, and Changes Earnings Retained December 31, 1993 (with comparative totals for 1992) Wholesale Commuter ......... Totals-.--- Waterworks Water Sewerage Parkin~ Lot 1993 1992 Operating revenues Charges for services Water and sewer charges $5,16~3,916 1,123,154 $ 494,000 $ $ 6,781,070 $ 5,773,311 Water meter repair charges 308 308 17,524 Water and sewer connection charges 6,290 6,290 45,300 Water meters and remote reader 49,514 49,514 8,163 Parking decals and meter fees 104,830 104,830 84,221 Administrative support charges 115,000 Miscellaneous 173,289 11,579 184~868 175,690 Total operating revenues 5,387,027 1,123,154 511t869 104,830 7,126,880 6~219,209 Operating expenses Administration 632,052 153,468 30,000 815,520 877,805 Operations 3,164,003 755,757 171,066 63,146 4,153,972 3,367,164 Depredation and amortization 411,477 49,116 72,389 5,252 538,234 377~187 Total operating expenses 4,207,532 804~873 396~923 98,398 5~507,726 4,622,156 Operating income 1~179~495 318~281 114,946 6,432 1,619,154 1~597~053 Nonoperating revenues (expenses) Interest income 55,152 2,954 9,461 6,075 73,642 91,488 Interest expense and fiscal charges (264,895) (181,914) (446,809) (407,450) Proceeds from sale of assets 15,210 15,210 2,610 (194,533) (178,960) 9,461 6,075 (357,957) (313t352) Income before operating transfers and extraordinary loss 984,962 139,321 124~407 12,507 1~261,197 1,283,701 Operating transfers in 545,116 Operating transfers (out) (545,458) (97~279) (642,737) (943,295) (545,458) (97,279) (642,737) (398,179) Net income before extraordinary loss 439,504 139,321 27,128 12,507 618,460 885,522 Extraordinary (loss) on early retirement of debt (138,775) Net income 439,,504 139,321 27,128 12,507 618,460 746,747 Retained earnings January 1 - as restated 9,122t465 2~618t416 346,030 12,086t911 11,340~164 December31 $9,561~969 $ 139,321 $2,645,544 $358~537 $12,705t371 $12~086~911 See accompanying notes to financial statements. 78 VILLAGE OF GLENVIEW, ILLINOIS Enterprise Funds Combining Schedule of Changes in Contributed Capital Year Ended December 31, 1993 (with comparative totals for 1992) Wholesale ............... Totals ........ Waterworks Water Sewerage 1993 1992 Increases Improvements - Capital projects $ $ $ 179,084 $ 179,084 $ 554,247 Decreases Elimination of undepreciated contributed assets 1,337r673 Net increase (decrease) 179,084 179,084 (783,426) Contributed capital January 1 2~386t154 712t005 3~098,159 3~881~585 December 31 $ 2,386,154 $ $ 891,089 $ 3,277,243 $ 3,098,159 VILLAGE OF GLENVIEW, ILLINOIS Enterprise Funds Combining Statement of Cash Flows Year Ended December 31, 1993 (with comparative totals for 1992) (See Following Page) VILLAGE OF GLENVIEW, ILLINOIS Waterworks Fund Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual Year Ended December 31, 1993 Budget Actual Operating revenues Charges for services Water charges $ 5,265,750 $ 5,163,916 Water meter repair charges 308 Water meters and remote readers 40,000 49,514 MisceLlaneous Late payment fees 55,000 53,840 Brass fittings 5,000 4,097 Water for construction 6,000 10,431 Turn on charge 6,000 3,955 Recapture agreements 14,000 79,214 Other 10r000 21~752 Total operating revenues 5,401r750 5,387t027 Operating expenses excluding depreciation Administration 640,752 632,052 Operations Supply and metering 2,035,185 2,169,158 Pumping station-east 195,447 184,871 Pumping station-west 194,814 171,002 Distribution system 390,062 354,601 Overhead 221,.504 284,371 Total operating expenses excluding depredation 3r677~764 3,796,055 Operating income before depreciation 1,723,986 1,590,972 Depredation 411~477 Operating income lr723~986 lt179t495 Nonoperating revenues (expenses) Interest income 12,000 55,152 Interest expense and fiscal charges (264,985) (264,895) Proceeds from sale of fixed assets 15~210 (252,985) (194e533) Income before operating transfers 1~471~001 984,962 Operating transfers (out) Illinois Municipal Retirement Fund (103,280) (103,280) Debt Service Fund (1,442,040) (442,178) (1,545,320) ~545,45S) Net income (loss) $ (74,319) 439,504 Retained earnings January 1- as restated 9~122,465 December 31 $ 9t561~969 See accompanying notes to financial statements. VILLAGE OF GLENVIEW, ILLINOIS Waterworks Fund Schedule of Operating Expenses - Budget and Actual Year Ended December 31, 1993 Budget Actual Administration Contractual professional services $ 3,000 $ 985 Printing, binding, and publication 300 54 Postage 14,000 11,192 Computer supplies 4,180 549.0 Administrative charges - Corporate Fund 459,780 459,780 Insurance 159,492 159f492 Total administration 640,752 632,052 Operations Supply and metering Regular salaries 78,697 68,220 Overtime salaries 3,076 1,414 Temporary salaries 712 643 Contractual professional services 46,000 38,612 Water 1,848,000 2,027,279 Maintenance of buildings 8,000 5,472 Operational materials and supplies 50,700 27,518 Total supply and metering 2,035,185 2,169,158 Pumping Station-East Regular salaries $ 28,445 $ 41,334 Overtime salaries 11,790 8,319 Temporary salaries 762 403 Contractual professional services 20,550 13,272 Power and light 85,000 82,294 Heating 6,000 3,711 Telephone 6,400 8,243 Maintenance of building 20,000 7,702 Cleaning and household supplies 200 43 Maintenance materials - equipment 3,000 1,345 Maintenance materials - building 600 1,471 Operating materials and supplies 12,700 6,920 Building improvements 15,000 9,814 Vehicles 28,500 99,094 238,947 283,965 Less nonoperating expenses Fixed assets capitalized 43,500 99,094 Total Pumping Station-East 195,447 184,871 (Continued) VILLAGE OF GLENVIEW, ILLINOIS Waterworks Fund Schedule of Operating Expenses - Budget and Actual Year Ended December 31, 1993 Budget Actual Pumping Station-West Regular salaries $ 19,497 $ 18,468 Overtime salaries 11,915 5,065 Temporary salaries 202 127 Contractual professional services 14,550 7,931 Power and light 105,000 121,722 Heating 1,800 569 Telephone 3,000 2,478 Maintenance of building 27,000 7,236 Cleaning and household supplies 200 7 Maintenance materials - equipment 4,500 1,025 Maintenance materials - building 750 104 Operating materials and supplies 6,400 1,757 Building improvements 6,000 4,513 200,814 171,002 Less nonoperating expenses Fixed assets capitalized 6,000 Total Pumping Station-West 194,814 171~002 Distribution system Regular salaries $ 200,191 $ 188,068 Overtime salaries 38,189 17,987 Temporary salaries 13,082 10,698 Contractual professional services 18,000 10,513 Maintenance of equipment 600 1,720 Maintenance of buildings 42,000 42,131 Equipment rentals 300 42 Sign supplies 1,500 1093 Maintenance materials - buildings 69,200 53,071 Operating materials and supplies 7,000 5,487 Machinery and equipment 26,000 27,692 Distribution system 299,000 314r000 715,062 672,502 Less nonoperating expenses Fixed assets capitalized 325,000 317,901 Total distribution system 390,062 354,601 (Continued) VILLAGE OF GLENVIEW, ILLINOIS Waterworks Fraud Schedule of Operating Expenses - Budget and Actual Year Ended December 31, 1993 Budget Actual Overhead salaries $ 171,827 $ 166,014 Regular Overtime salaries 730 687 Temporary salaries 2,922 1,229 Longevity 5,900 5,900 pay Postage 300 Telephone 1,200 180 Dues, subscriptions, and memberships 2,420 2,120 Maintenance of equipment 630 746 Rentals 6,200 323 Travel expense 3,400 939 Trali-dng 9,600 5,354 Uniform allowance 5,825 3,859 Office supplies 700 1,250 Books, pamphlets, and materials 300 577 Small tools and equipment 6,750 5,299 Operational materials and supplies 1,000 364 Computer supplies 1,800 1,698 Equipment replacement 69,654 Equipment repairs 87,046 69,074 Machinery and equipment 36f500 18f758 414,704 284,371 Less nonoperating expenses Fixed assets capitalized 193,200 Total overhead 221~504 284e371 Total operating expenses $ 3,677,764 $ 3,796~055 84 VILLAGE OF GLENVIEW, ILLINOIS Wholesale Water Fund Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual Year Ended December 31, 1993 Budget Actual Operating revenues Charges for services $ 1,084,411 $ 1,123,154 Operating expenses excluding depreciation Operations Supply and metering 853,600 736,194 Pumping station 55,341 18,373 Distribution system 10,470 1,190 Total operating expenses 919,411 755,757 Operating income before depreciation 165,000 367,397 Depreciation 49,116 Operating income 165,000 318,281 Nonoperating revenues (expenses) Interest income 2,954 Interest expense (178,286) (179,737) Amortization of bond discount (2,177) (178,286) (178,960) Net income (loss) $ (13,286) 139,321 Retained earnings January 1 December 31 $ 139,321 See accompanying notes to financial statements. VILLAGE OF GLENVIEW, ILLINOIS Wholesale Water Fund Operating Expenses - Budget and Actual Schedule of Year Ended December 31, 1993 Budget Actual Operations Supply and metering Water purchases $ 777,000 $ 661,194 Maintenance of buildings 1,000 Operating materials and supplies 600 Administrative charges-Corporate Fund 75,000 75,000 Total supply and metering 853,600 736,194 Pumping Station Regular salaries 741 3,300 Overtime salaries 200 666 Temporary salaries 35 Contractual professional services 400 Power and light 49,000 13,047 Telephone 3,000 1,297 Maintenance of buildings 1,000 Equipment rentals 500 Operating materials and supplies 500 28 Total Pumping Station 55,341 18,373 Distribution system Regular salaries 3,570 1,123 Overtime salaries 900 Temporary salaries 67 Contractual professional service 3,000 Maintenance of buildings 1,000 Operating materials and supplies 2,000 Total distribution system 10,470 1,190 Total operating expenses $ 919,411 $ 755,757 87 VILLAGE OF GLENVIEW, ILLINOIS Sewerage Fund Statement of Revenues, Expenses, and Changes in Retained Eamings- Budget and Actual Year Ended December 31, 1993 Budget Actual Operating revenues Charges for services Sewer charges $ 525,000 $ 494,000 Sewer connection charges 6,290 Miscellaneous Other 11,579 Total operating revenues 525,000 511,869 Operating expenses excluding depreciation Administration 135,870 153,468 Operations Pumping Station 17,293 15,981 Collection 129,320 155,085 Total operating expenses 282,483 324,534 Operating income before depreciation 242,517 187,335 Depreciation 72,389 Operating income 242,517 114,946 Nonoperating revenue Interest income 2r000 9,461 Income before operating transfers 244,517 124,407 Operating transfers (out) Illinois Municipal Retirement Fund (16,751) (16,751) Debt Service Fund (80,528) (80,528) (97,279) (97,279) Net income $ 147,238 27,128 Retained earnings January 1 2,618~416 December 31 $ 2,645,544 See accompanying notes to financial statements. 89 VILLAGE OF GLENVIEW, ILLINOIS Sewerage Fund Schedule of Operating Expenses - Budget and Actual Year Ended December 31, 1993 Budget Actual Administration Contractual professional services $ 3,500 $ Printing, binding, and publications 100 Postage 300 Office supplies 150 Computer supplies 1,000 Administrative charges - Corporate Fund 47,223 47,223 Equipment replacement 14,450 Equipment repairs and fuel 13,761 18,029 Insurance 55,386 88f216 Total administration 135~870 153,468 Operations Pumping Station Regular salaries 11,399 10,928 Overtime salaries 535 2,399 Temporary salaries 159 213 Power and light 2,000 2,029 Maintenance of equipment 2,000 292 Operational materials and supplies 1,200 120 Total Pumping Station 17f293 15,981 Collection system Regular salaries 78,838 70,037 Overtime salaries 6,973 4,402 Temporary salaries 1,629 1,867 Contractual professional services 3,000 Maintenance of buildings 12,000 54,083 Rentals 180 180 Maintenance materials 2,500 4,203 Small tools and equipment 700 626 Operational materials and supplies 10,000 8,291 Machinery and equipment 13,500 11,396 System improvements 250r590 250r590 379,910 405,675 Less nonoperating expenses Fixed assets capitalized 250,590 250,590 system 129r320 155,085 Total collection Total operating expenses $ 282~483 $ 324,534 90 VILLAGE OF GLENVIEW, ILLINOIS Commuter Parking Lot Fund Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual Year Ended December 31, 1993 Budget Actual Operating revenues Charges for services Meter fees $ 12,200 $ 18,336 Parking decals 40,000 86,494 Total operating revenues 52~200 104t830 Operating expenses Administration 30,000 30,000 Operations 37,800 63,146 Depreciation and amortization 5,252 Total operating expenses 67,800 98t398 Operating income (loss) (15,600) 6,432 Nonoperating revenues Interest income 4,500 6t075 Net income (loss) $ (1t,100) 12,507 Retained earnings January 1 346t030 December 31 $ 358,537 See accompanying notes to financial statements. 92 VILLAGE OF GLENVIEW, ILLINOIS Commuter Parking Lot Fund Schedule of Operating Expenses - Budget and Actual Year Ended December 31, 1993 Budget Actual Administration Administration - Corporate Fund $ 30~000 $ 30~000 Operations Contractual professional services 3,500 6,335 Printing, binding, and publications 500 799 Power and light 2,400 2,390 Postage 600 514 Rentals 20,000 16,955 Maintenance materials 300 Operations materials 6,000 30,985 Machinery or equipment 4,500 5,168 Total operations $ 37t800 $ 63t146 INTERNAL SERVICE FUNDS INTERNAL SERVICE FUNDS Municipal Equipment Repair Fund - The Municipal Equipment Repair Fund is used to account for the costs of repairing and maintaining all vehicles of the government. These costs include labor, material, fuel, and fixed overhead of the government's repair facility. Insurance Fund - The Insurance Fund is used to account for the financial activity of the government's entire insurance program. In addition to conventional primary insurance, Glenview is a member of the High-Level Excess Liability Pool (HELP) which provides excess liability coverage. Also, the government provides health and life insurance by participating in the (IPBC) Intergovernmental Personnel Benefit Cooperative. VILLAGE OF GLENVIEW, ILLINOIS Internal Service Funds Combining Balance Sheet December 31, 1993 (with comparative totals for 1992) Municipal Equipment ............... Totals ............... Repair Insurance 1993 1992 ASSETS Current assets Cash andinvestments $ 179,416 $ 1,649,151 $ 1,828,567 $ 1,121,619 Receivables - accounts 4,660 3,891 8,551 4,647 Investment in public entity risk pool-HELP 374,696 374,696 345,883 Investment in public entity risk pool-IPBC 42,919 42f919 307,245 Total assets $ 184,076 $ 2,070,657 $ 2,254,733 $ 1,779,394 LIABILITIES AND FUND EQUITY Current liabilities Accounts payable $ $ $ $ 68,948 Due to other funds 32,830 Total liabilities - 101,778 Fund equity Retained earnings 184,076 2,070,657 2,254~733 1,677,616 Total liabilities and fund equity $ 184,076 $ 2,070,657 $ 2,254,733 $ 1,779,394 See accompanying notes to the financial statements. VILLAGE OF GLENVIEW, ILLINOIS Internal Service Funds Combining Statement of Revenues, Expenses, and Changes in Retained Earnings Year Ended December 31, 1993 (with comparative totals for 1992) Municipal Equipment ............... Totals ............... Repair insurance 1993 1992 Operating revenues Charges f or services $ 656,769 $ 2,718,566 $ 3,375,335 $ 2,414,656 Miscellaneous 39,673 42,514 82,187 85~259 Total operating revenues 696,442 2,761,080 3,457,522 2,499,915 Operating expenses Operations 599,743 2,343,699 2,943,442 lt955,511 Operating income 96,699 417r381 514,080 544,404 Nonoperating revenues Interest income 2,897 35,927 38,824 32,236 Income from public entity risk pool-HELP 28,813 28~813 76,183 2~897 64,740 67r637 108~419 Net income before operating transfers 99,596 482,121 581,717 652,823 Operating transfers (out) Capital Equipment Replacement Fund (4,600) (4,600) (6e000) Net income 94,996 482,121 577,117 646,823 Retained earnings January 1 89,080 1~588,536 lt677,616 ltO30t793 December31 $ 184,076 $ 2~070t657 $ 2,254,733 $ 1,677t616 See accompanying notes to the financial statements. 96 VILLAGE OF GLENVIEW, ILLINOIS Internal Service Funds Combining Statement of Cash Flows Year Ended December 31, 1993 (with comparative totals for 1992) Municipal Equipment ......... Totals .......... Repair Insurance 1993 1992 Cash flows from operating activities Operating income $ 96,699 $ 417,381 $ 514,080 $ 544,404 Adjustments to reconcile operating income to net cash provided by operating activities Operating transfers (out) (4,600) (4,600) (6,000) Changes in assets and liabilities Accounts receivable (1,237) (2,667) (3,904) (4,099) Deposit in public entity risk pool-IPBC 264,326 264,326 58,058 Accounts payable (6,236) (62,712) (68,948) 30,965 Due to other funds (32,830) (32,830) 84,626 583,498 668,124 623,328 Cash flows from investing activities Interest on investments 2~897 35~927 38,824 31,933 Net increase in cash and cash equivalents 87,523 619,425 706,948 655,261 Cash and cash equivalents January 1 91,893 1,029,726 1,121,619 466,358 December 31 .$179,416 $1,649,151 $ 1,828,567 $ 1,121,619 Noncash investing, capital and financing activities: The insurance fund recorded income of $28,813 on its investment in public entity risk pool- HELP for the year ended December 31, 1993. See accompanying notes to the financiai statements. VILLAGE OF GLENVIEW, ILLINOIS Municipal Equipment Repair Fund Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual Year Ended December 31, 1993 (with comparative totals for 1992) ........ 1993 .......... 1992 Budget Actual Actual Operating revenues Charges for services $ 567,698 $ 656,769 $ 487,808 Miscellaneous 39,673 31,890 Total operating revenues 567,698 696,442 519,698 Operating expenses Operations 572,207 599r743 545,849 Operating income (loss) (4,509) 96,699 (26,151) Nonoperating revenues Interest income 1 f000 2,897 3,017 Income (loss) before operating transfers (3,509) 99,596 (29,134) Operating transfers (out) Capital Equipment Replacement Fund (4,600) (4,600) (6,000) Net income (loss) $ (8,109) 94,996 (29,134) Retained earnings January 1 89,080 118,214 December 31 $ 184,076 $ 89,080 See accompanying notes to the financial statements. VILLAGE OF GLENVIEW, ILLINOIS Municipal Equipment Repair Fund Schedule of Operating Expenses - Budget and Actual Year Ended December 31, 1993 Budget Actual Operations Regular salaries $ 153,936 $ 177,716 Overtime salaries 4,108 3,921 Temporary salaries 2,809 6,621 Longevity pay 2,200 2,110 Contractual professional services 300 546 Maintenance of equipment 71,000 86,902 Maintenance of buildings 5,000 3,141 Uniform allowance 3,625 2,399 Fuel 160,000 153,178 Motor vehicle supplies 44,000 35,322 Cleaning and household supplies 3,000 2,548 Maintenance materials - equipment 95,000 104,481 Maintenance materials - buildings 5,000 4,597 Small tools and equipment 4,000 4,315 Equipment repairs 4,429 1,761 Machinery and equipment 13,800 I0t185 Tohal operations $ 572,207 $ 599,743 VILLAGE OF GLENVIEW, ILLINOIS Insurance Fund Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual Year Ended December 31, 1993 (with comparative totals for 1992) 199____~3~ 1992 Budget Actual Actual Operating revenues Charges for services $ 1,906,359 $ 2,718,566 $ 1,926,848 Miscellaneous Returned premiums 69,000 42,514 53,369 Total operating revenues 1,975,359 2,761,080 1,980,217 Operating expenses Operations Insurance premiums 1~958,493 2,343,699 1,409,662 Operating income 16~866 417~381 570,555 Nonoperating revenues Interest income 14,000 35,927 29,219 Income from public entity risk pool-HELP 28,813 76,183 14~000 64~740 105,402 Net income $ 30,866 482,121 675,957 Retained earnings January 1 1Z88,536 912,579 December 31 $ 2,070,657 $ 1,588,536 See accompanying notes to financial statements. 100 I I I I I I I I I I I I I I I I i I FIDUCIARY FUND TYPES I I I I I I I I I I I I I I I I I I I TI~UST AND A(~ENC;Y FUNDS I I I I I TRUST AND AGENCY FUNDS I EXPENDABLE TRUST I Escrow Deposit Fund - The Escrow Fund is used to account for the funds placed on deposit with the government by building contractors working within the government's limits. IInterest earned on escrow deposits is annually transferred to the Corporate Fund. Deposit Fund - The Deposit Fund is used to account for money on deposit with the government being held on a temporary basis such as security deposits for use of the I government's equipment. i Police Department Special Account Fund - The Police Department Special Account Fund is used to account for funds received from the Cook County Clerk of the Circuit Courts' office to be used in various types of investigations. I PENSION TRUST IPolice Pension Fund - The Police Pension fund is used to account for the resourced necessary to provide disability and retirement benefits to personnel of the Glenview Police Department. I Firefighters' Pension Fund - The Firefighters' Pension fund is used to account for the resources necessary to provide disability and retirement benefits to personnel of the IGlenview Fire Department. I AGENCY Deferred Compensation Plan Fund - The Deferred Compensation Fund is used to account for I salary deductions held by the government employees. The Deferred Compensation is available to employees upon termination or retirement. ISpecial Service Areas Fund - This fund accounts for various special service area bond issues. I I I VILLAGE OF GLENVIEW, ILLINOIS Expendable Trust Funds Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Year Ended December 31, 1993 (with comparative totals for 1992) Police Department Escrow Special .......... Totals ........... Deposit Deposit Account 1993 1992 Revenues Fines and forfeits $ $ $ 986 $ 986 $ 1,319 Interest 124,735 1,239 169 126,143 165,530 Miscellaneous Other 6,843 3,995 10~838 7~661 Total revenues 124r735 8~082 5r150 137~967 174~510 Expenditures General goverament 6,807 6,807 7,093 Public safety 3~916 3,916 9,061 Total expenditures 6,807 3~916 10e723 16e154 expenditures 124,735 1,275 1,234 127,244 158,356 Other financing (uses) Operating transfers (out) General Fund (124r735) (124r735) (163,504) Excess (deficiency) of revenues over expenditures and other financing uses 1,275 1,234 2,509 (5,148) Fund balances January 1 17,821 7,071 24,892 30,040 December31 $ $ 1%096 $ 8~305 $ 27r401 $ 24~892 See accompanying notes to financial statements. 102 VILLAGE OF GLENVIEW, ILLINOIS Pension Trust Funds Combining Statement of Revenues, Expenses, and Changes in Fund Balances Year Ended December 31, 1993 (with comparative totals for 1992) Police Firefighters' - ........... Totals .............. Pension Pension 1993 1992 Operating revenues Taxes $ 218,566 $ 71,631 $ 290,197 $ 45,135 Contributions - employees 260,114 307,998 568,112 449,683 Interest 1,004,632 677,079 1,681,711 2,219,014 Miscellaneous Gain on sale of investments 3~903,836 3,903,836 33L053 Total operating revenues It483,312 4~960,544 6t443,856 3,044,885 Operating expenses Pensions and refunds 485,743 349,510 835,253 634,709 Miscellaneous Other 4,672 21,243 25t915 7,032 Total operating expenses 490,415 370t753 861,168 641~741 Operating income 992,897 4,589,791 5,582,688 2,403,144 Nonoperating revenues Merged pension plan 8~847,410 Income before operating transfers 992,897 4,589,791 5,582,688 11,250,554 Operating transfers in General Fund 28,582 38,039 66,621 45,065 Net income 1,021,479 4,627,830 5,649,309 11,295,619 Fund balances January 1 12t603t771 20~918,004 33~521~775 22t226,156 December 31 $ 13,625,250 $ 25~545,834 $ 39,171,084 $ 33,521,775 See accompanying notes to financial statements. 103 VILLAGE OF GLENVIEW, ILLINOIS Police Pension Fund Statement of Revenues, Expenses, and Changes in Fund Balance - Budget and Actual Year Ended December 31, 1993 Budget Actual Operating revenues Property taxes $ $ 218,566 Contributions - employees 242,400 260,114 Interest 1,041~000 1,004f632 Total operating revenues lf283,400 1~483,312 Operating expenses Pensions and refunds 457,072 485,743 Miscellaneous Contractual professional services 5,700 4,672 Total operating expenses 462,772 490,415 Income before operating transfers 820,628 992,897 Operating transfers in General Fund 28,582 28~582 Net income $ 849,210 1,021,479 Fund balance January 1 12,603,771 December 31 $ 13,625,250 See accompanying notes to financial statements. 104 VILLAGE OF GLENVIEW, ILLINOIS Firefighters' Pension Fund Statement of Revenues, Expenses, and Changes in Fund Balance - Budget and Actual Year Ended December 31, 1993 Budget Actual Operating revenues Taxes Foreign fire insurance tax $ 30,000 $ 41,198 Property taxes - current 30,433 Contributions - employees 302,045 307,998 Interest 1,475,000 677,079 Miscellaneous Gain on sale of investments 3,903,836 Total operating revenues 1,807,045 4,960,544 Operating expenses Pensions and refunds 248,792 349,510 Miscellaneous Contractual professional services 5,000 21,243 Total operating expenses 253,792 370,753 Income before operating transfers 1,553,253 4,589,791 Operating transfers in General Fund 38,039 38,039 Net income $ 1,491,292 4,627,830 Fund balance January 1 20,918,004 December 31 $ 25r545,834 See accompanying notes to financial statements. 105 VILLAGE OF GLENVIEW, ILLINOIS Agency Funds Combining Statement of Changes in Assets and Liabilities Year Ended December 31, 1993 Balances Balances January 1 Additions Deductions December 31 All Funds ASSETS Assets held by agents for deferred compensation plan (market value) $ 7,333,399 $ 1,414,771 $ 171,360 $ 8,576,810 Receivables - property taxes 150,725 15%441 150,725 15%441 Total assets $ 7t484,124 $ L574,212 $ 322,085 $ 8,736,251 LIABILITIES Due to participants $ 7,333,399 $ 1,414,771 $ 171,360 $ 8,576,810 Due to other funds 11,851 13,403 11,851 13,403 Due to bondholders 138~874 146~038 138,874 146~038 Total liabilities $ 7~484~124 $ 1,574~212 $ 322t085 $ 8~736~251 Deferred Compensation Plan Fund ASSETS Assets held by agents for deferred compensation plan (market value) $ 7~333~399 $ 1~414,771 $ 171~360 $ 8~576~810 LIABILITIES Due to participants $ 7~333~399 $ 1,414~771 $ 17L360 $ 8t576~810 Special Service Areas Fund ASSETS Receivables - property taxes $ 150,725 $ 159r441 $ 150~725 $ 159t441 LIABILITIES Due to other funds $ 11,851 $ 13,403 $ 11,851 $ 13,403 Due to bondholders 138~874 146~038 138r874 146t038 Total liabilities $ 150,725 $ 159,441 $ 150,725 $ 159,441 See accompanying notes to financial statements. 106 I I I I I I I I I I I I I I I I I I I ACCOUNT GROUPS I I I I I I I I I I I I I I I I I I GENERAL FIXED ASSETS ACCOUNT GROUP I VILLAGE OF GLENVIEW, ILLINOIS General Fixed Assets Account Group Schedule of General Fixed Assets - by Source December 31, 1993 (with comparative totals for 1992) 1993 1992 General fixed assets Land $ 3,405,095 $ 3,405,095 Buildings and improvements 7,727,257 7,727,257 Equipment 6,380,500 6,347,884 Furniture 296,096 296,096 Office equipment 328,841 328,841 $ 18,137,789 $ 18,105,173 Investment in general fixed assets General revenues $ 14,338,510 $ 14,305,894 Bond issues 3,799,279 3,799,279 $ 18,137,789 $ 18,105,173 107 VILLAGE OF GLENVIEW, ILLINOIS General Fixed Assets Account Group Schedule of Changes in General Fixed Assets - by Function and Activity Year Ended December 31, 1993 Function and Balances Balances Activity January 1 Additions Retirements December 31 General Government Executive $ 57,716 $ $ $ 57,716 Administrative 2,358,118 2,358,118 Finance 684,128 684,128 Building and grounds 234,331 234,331 Total general Government 3,334,293 3~334e293 Public safety Police 3,331,173 159,061 131,510 3,358,724 Fire 2,449,689 38,216 10,800 2,477,105 Total public safety 5~780~862 197,277 142,310 5,835,829 Public Works Administration 2,001,215 13,655 10,600 2,004,270 Building division 830,519 27,812 50,986 807,345 Engineering 359,315 21,030 32,220 348,125 Street division 4,959,467 20,958 12,000 4,968,425 Equipment and supplies Division 839,502 839~502 Total public works 8,990,018 83,455 105,806 8~967,667 $ 18,105,173 $ 280,732 $ 248~116 $ 18,137,789 109 I I I I I I I I I I I I I I I I I I GENERAL LONG TERM DEBT ACCOUNT GROUP I I I I I I I I I I I I ! I I I i i I I COMPONENT UNIT I I I I COMPONENT UNIT I Component Unit (Library Fund) - The Library Fund is used to account for the resources Inecessary to provide the educational, cultural, and recreational activities of the Glenview Public Library. I 1 1 ! I ! i I 1 i ! I ! VILLAGE OF GLENVIEW, ILLINOIS Component Unit - Library Fund Combining Balance Sheet December 31, 1993 (with comparative totals for 1992) ....... Component Unit .......... General Fixed Asset Account .............. Totals ................ General Fund Group 1993 1992 ASSETS Cash and investments $ 1,006,973 $ $ 1,006,973 $ 900,943 Receivables Property taxes 2,771,548 2,771,548 2,520,754 Accrued interest 1,434 1,434 38,911 General fixed assets 5,312,455 5,312~455 5t312~455 Total assets $ 3~779,955 $ 5,312,455 $ 9,092,410 $ 8,773,063 LIABILITIES AND FUND BALANCES Liabilities Accrued payroll $ 25,728 $ $ 25,728 $ 24,607 Deferred revenues 2,771~548 2ff71,548 2,520~754 Total liabilities 2,797,276 2,797,276 2,545,361 Fund balances Investment in general fixed assets 5,312,455 5,312,455 5,312,455 Unreserved 982,679 982~679 915~247 Total liabilities and 982,679 5,312,455 6,295,134 6,227,702 fund balances $ 3,779,955 $ 5,312,455 $ 9,092,410 $ 8,773,063 See accompanying notes to financial statements. 111 VILLAGE OF GLENVIEW, ILLINOIS Component Unit - Library Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended December 31, 1993 Budget Actual Revenues Taxes Property taxes - current $ 2,089,137 $ 2,135,167 Replacement taxes 40,000 32,663 Intergovernmental 45,314 Charges for services 72,500 64,907 Fines and forfeits 73,652 65,480 Interest 26,000 27,204 Miscellaneous Donations 35,640 Unexpended funds 63,495 Other 3~650 4,658 Total revenues 2,368,434 2,411,033 Expenditures Culture and recreation 2,368t434 2~343,601 Excess of revenues over expenditures $ 67,432 Fund balance January 1 915,247 December 31 $ 982~679 See accompanying notes to financial statements. 112 VILLAGE OF GLENVIEW, ILLINOIS Component Unit - Library Fund Schedule of Expenditures - Budget and Actual Year Ended December 31, 1993 Budget Actual Culture mrd recreation Regular salaries $ 622,688 $ 597,252 Overtime salaries 2,000 493 Temporary salaries 587,155 600,219 Retirement benefits 158,238 158,238 Legal fees 1,500 Public information 10,120 9,726 Printing 3,000 2,776 Printing, binding, and publication 10,200 6,780 Power and lights 700 648 Heating 5,000 697 Postage 12,242 12,933 Telephone and telegraph 9,451 9,856 Dues eard subscriptiot'ts 2,350 3,545 Maintenance of equipment 12,700 5,122 Maintenance of copiers 14,035 15,448 Maintenance of EDP equipment 29,000 29,879 On-line searching 8,000 3,267 Maintenance of buildings 105,600 148,567 Travel expense 12,100 5,662 Training 18,096 17,067 Trustee expense 2,500 1,598 Personnel recruitment 2,500 459 Director expe~ses 500 431 Library programs 18,650 13,941 Office supplies 8,500 10,429 Processing supplies 16,500 15,288 Circulation supplies 5,815 5,019 Audio visual supplies 3,257 3,206 Books, pamphlets, and materials 393,771 395,460 Periodicals 41,988 31,797 Audiovisual 48,062 40,804 Micro-form 17,457 20,600 Video tapes 19,600 20,782 Cataloging 15,000 18,671 Cleaning supplies 500 8 Contingencies 2,000 55 Other operating expenses 750 812 Machinery and equipment 40,149 29,306 Administrative support 11,500 11,500 Insurance 95,260 95~260 Total expenditures $ 2,368,434 $ 2,343,601 113 VILLAGE OF GLENVIEW, ILLINOIS Component Unit - Library Fund General Fixed Assets Account Group Schedule of General Fixed Assets - by Source December 31, 1993 (with comparative totals for 1992) 1993 1992 GENERAL FIXED ASSETS Land $ 500,000 $ 500,000 Building and improvements 4,100,540 4,100,540 Equipment 437,329 437,329 Fumiture 271,300 271,300 Office equipment 3,286 3~286 $ 5,312,455 $ 5~312,455 INVESTMENT IN GENERAL FIXED ASSETS General revenues $ 2,212,455 $ 2,212,455 Bond issues 3ti00,000 3el00,000 $ 5,312,455 $ 5,312,455 114 I I I I I I I I I I I I I I I I I I SUPPLEMENTARY DATA I VILLAGE OF GLENVIEW, ILLINOIS Illinois Retirement Fund Municipal Required Supplementary Information Analysis Funding Progress of December 31, 1993 (6) (1) Unfunded Net Pension Assets Benefit Available Obligation for (4) as a Benefits (2) (3) Unfunded (5) Percentage (Lower of Pension Percentage Pension Annual of Covered Fiscal Cost or Benefit Funded Benefit Covered Payroll Year Market)_ Obligation (1) ~ (2) Obligation Payroll (4) ? (5) 1987 $ 2,930,396 $ 4,635,234 63.22% $ 1,704,838 $ 3,705,506 46.01% 1988 2,933,046 5,050,499 58.07 2,117,453 4,005,547 52.86 1989 3,527,092 5,869,171 60.10 2,342,079 4,426,475 52.91 1990 3,988,712 6,849,865 58.23 2,861,153 4,924,658 58.10 1991 5,079,052 7,308,562 69.49 2,229,510 5,362,109 41.58 1992 6,254,345 8,279,322 75.54 2,024,977 5,795,158 34.94 1993 7,161,743 9,128,558 78.45 1,966,815 6,142,697 32.02 (During the implementation transition period all, information required is presented for as mm~y as are available.) years Analysis of the dollar amounts of net assets available for benefits, pension benefit obligation, and unfunded pension benefit obligation in isolation can be misleading. Expressing the net assets available for benefits as a percentage of the pension benefit obligation provides one indication of funding status on a going-concern basis. Analysis of this percentage over time indicates whether the system is becoming financially stronger or weaker. Generally, the greater this percentage, the stronger the PERS. Trends in unfunded pension benefit obligation and annual covered payroll are both affected by inflation. Expressing the unfunded pension benefit obligation as a percentage of annual covered payroll approximately adjusts for the effects of inflation and aids analysis of progress made in accumulating sufficient assets to pay benefits when due. Generally, the smaller the percentage, the stronger the PERS. 115 VILLAGE OF GLENVIEW, ILLINOIS Police Pension Fund Required Supplementary Information Analysis of Funding Progress December 31, 1993 (6) Unfi. mded (Assets in (1) Excess of) Net Pension Assets (4) Benefit Available Unfunded Obligation for (Assets in as a Benefits (2) (3) Excess of) (5) Percentage (Lower of Pension Percentage Pension Annual of Covered Fiscal Cost or Benefit Funded Benefit Covered Payroll Year Market) Obligation (1) ? (2) Obligation Payroll ~4) .-' (5) 1987 $ 8,223,642 $ 7,999,650 102.80% $ (223,992) $ 2,040,100 (10.98)% 1988 8,949,779 7,920,498 113.00 (1,029,281) 2,089,055 (49.27) 1989 10,095,845 8,550,352 118.08 (1,545,493) 2,282,311 (67.72) 1990 10,093,095 8,915,058 113.21 (1,178,037) 2,373,700 (49.63) 1991 10,791,415 9,883,148 109.19 (908,267) 2,868,564 (31.66) 1992 11,693,308 10,795,402 108.32 (897,906) 2,721,721 (32.99) 1993 12,603,771 12,780,370 98.62 176,599 2,890,155 6.11 (During the implementation transition period, all information required is presented for as many years as are available.) Analysis of the dollar amounts of net assets available for benefits, pension benefit obligation, and unfunded pension benefit obligation in isolation can be misleading. Expressing the net assets available for benefits as a percentage of the pension benefit obligation provides one indication of funding status on a going-concern basis. Analysis of this percentage over time indicates whether the system is becoming financially stronger or weaker. Generally, the greater this percentage, the stronger the PERS. Trends in unfunded pension benefit obligation and annual covered payroll are both affected by inflation. Expressing the unfunded pension benefit obligation as a percentage of annual covered payroll approximately adjusts for the effects of inflation and aids analysis of progress made in accumulating sufficient assets to pay benefits when due. Generally, the smaller the percentage, the stronger the PEPS. 116 VILLAGE OF GLENVIEW, ILLINOIS Firefighters' Pension Fund Required Supplementary Information Analysis Funding Progress of December 31, 1993 (6) Unfunded (Assets in (1) Excess of) Net Pension Assets (4) Benefit Available Unfunded Obligation for (Assets in as a Benefits (2) (3) Excess o0 (5) Percentage (Lower of Pension Percentage Pension Annual of Covered Fiscal Cost or Benefit Funded Benefit Covered Payroll Year Market) Obligation (1) e (2) Obligation Payroll (4) ? (5) 1987 $ 7,114,349 $ 5,993,554 118.70% $ (1,120,795) $ 1,285,510 (87.19)% 1988 7,770,501 5,891,304 131.90 (1,879,197) 1,304,443 (144.06) 1989 8,631,747 5,618,758 153.62 (3,012,989) 1,513,600 (199.06) 1990 8,628,996 6,154,764 140.20 (1,474,232) 1,638,158 (151.04) 1991 9,403,703 6,882,157 136.64 (2,521,546) 2,001,064 (126.01) 1992 10,532,848 7,643,219 137.81 (2,889,629) 2,481,233 (116.46) 1993 20,918,004 15,890,316 131.64 (5,027,688) 3,733,309 (134.67) (During the implementation transition period, all information required is presented for as as many years are available.) Analysis of the dollar amounts of net assets available for benefits, pension benefit obligation, and unfunded peusion 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-conceru 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 made in progress accumulating sufficient assets to pay benefits when due. Generally, the smaller the percentage, the stronger the PERS. 117 VILLAGE OF GLENVIEW, ILLINOIS Illinois Municipal Retirement Fund Required Supplementary Information Revenues by Source December 31, 1993 Employer Contributions asa -Revenues by Source-- ..................... Percentage Fiscal Employee Employer Investment of Covered Year Contributions Contributions Income Totals Payroll 1984 $ 125,629 $ 181,184 N/A $ 306,813 *** 1985 141,537 204,127 N/A 345,664 *** 1986 152,811 245,516 N/A 398,327 *** 1987 166,751 259,384 N/A 426,135 7.00% 1988 180,252 280,388 N/A 460,640 7.00 1989 199,196 399,710 N/A 598,906 9.03 1990 221,613 521,028 N/A 742,641 10.58 1991 241,298 613,961 N/A 855,259 11.45 1992 260,785 678,613 N/A 939,398 11.71 1993 276,421 640,070 N/A 916,491 14.92 N/A - Not applicable *** - Not available 118 VILLAGE OF GLENVIEW, ILLINOIS Police Pension Fund Required Supplementary Information Revenues by Source and Expenses by Type December 31, 1993 Employer Contributions asa ........................... Revenues by Source- ....... Percentage Fiscal Employee Employer Investment of Covered Year Contributions Contributions Income Totals Payroll 1984 $ 139,145 $ 495,023 $ 406,152 $ 1,040,320 29.35% 1985 149,009 577,336 465,639 1,191,984 31.96 1986 155,785 530,381 835,810 1,521,976 28.09 1987 173,746 474,199 805,820 1,453,765 23.24 1988 188,015 471,902 651,546 1,311,463 22.59 1989 205,408 152,076 1,159,038 1,516,522 6.60 1990 213,633 952 868,525 1,083,110 0.04 1991 234,979 26,039 1,070,563 1,331,581 0.90 1992 244,982 26,938 1,096,400 1,368,320 0.99 1993 260,114 247,148 1,004,632 1,511,894 8.56 ........................ Expenses by Type .......................... Fiscal Administrative Refunds Year Benefits Expenses and Other Totals 1984 $ 264,787 805 $ $ 265,592 1985 257,364 1,083 258,447 1986 290,240 15,203 305,443 305,476 4,384 11,312 321,172 1987 1988 330,573 1,002 112,980 ~,555 1989 364,756 5,185 - 369,941 404,054 5,402 409,456 1990 1991 418,578 4,692 6,413 429,683 1992 453,894 3,963 457,857 4,672 490,415 1993 485,743 119 VILLAGE OF GLENVIEW, ILLINOIS Firefighters' Pension Fund Required Supplementary Information Revenues by Source and Expenses by Type December 31, 1993 Employer Contributions as a Revenues by Source ........................ Percentage Fiscal Employee Employer Investment of Covered Year Contributions Contributions Income Totals Payroll 1984 $ 92,126 $ 336,739 $ 347,834 $ 776,699 28.33% 1985 95,739 338,605 418,232 852,576 27.41 1986 98,923 342,227 772,208 1,213,358 26.81 1987 111,604 290,435 843,509 1,245,548 22.59 1988 120,661 288,177 532,880 941,718 22.09 1989 124,872 39,040 824,334 988,246 5.90 1990 135,148 28,441 742,209 905,798 1.75 1991 145,147 47,393 1,088,346 1,280,886 2.37 1992 204,701 63,262 1,453,667 1,721,630 2.55 1993 307,998 109,670 4,580,915 4,998,583 2.94 ............................. Expenses by Type ........................... Fiscal Administrative Refunds Year Benefits Expenses and Other Totals 1984 $ 62,397 $ 625 $ $ 63,022 1985 65,564 2,236 67,800 1986 93,919 625 94,544 1987 94,748 858 32,813 128,419 1988 93,679 808 19,551 114,038 1989 142,093 2,900 144,993 1990 144,519 4,137 148,656 1991 146,210 5,532 151,742 1992 180,815 3,069 183,884 1993 349,510 21,243 370,753 120 VILLAGE OF GLENVIEW, ILLINOIS Combined Schedule of Cash and Investments December 31, 1993 (See Following Page) VILLAGE OF GLENVIEW, ILLINOIS Schedule of Insurance in Force December 31, 1993 Amount Insureds Coverage or Limits Expires Company Village of London Package 12/31/94 Lloyd's and Glenview London Companies Property $ 975,000 Auto Physical Damage 1,000,000 General Liability General Aggregate 1,000,000 Products/Completed Operations 1,000,000 Personal/Advertising Injury 1,000,000 Each Occurrence 1,000,000 Medical Expense 10,000 Employee Benefits 500,000 Police Professional 1,000,000 Errors and Omissions 1,000,000 Auto Liability 1,000,000 Medical Payments 10,000 Workers' Compensation Coverage A Statutory Coverage B 300,000 Crime Forgery/Alt. 100,000 Counterfeit Papers 100,000 Excess Workers' Compensation 12/31/94 Safety National Coverage A Statutory Coverage B 500,000 Excess of $300,000 SIR Excess Property Excess of Lloyd's Property 44,240,535 12/31/94 Travelers Boiler & Machinery 30,000,000 12/31/94 Kemper Crime Primary Public Employee Dishonesty 250,000 12,31,94 Kemper Library Treasurers' Bond 1,000,000 4/13/94 Kemper Treasurers' Bond 1,000,000 4/19/94 Kemper Down 1,000,000 12/31/94 Lloyd's and Drop London Companies VILLAGE OF GLENVIEW, ILLINOIS Long-Term Debt Requirements General Obligation Library Bond Series of 1984 December 31, 1993 Date of Issue July 1, 1984 Date of Maturity December 1, 1994 Authorized Issue $3,100,000 Denomination of Bonds $5,000 Interest Rates 1986 - 1988 9.90% 1989 8.50% 1990 8.60% 1991 8.90% 1992 9.50% 1993 9.25% 1994 9.50% Interest Dates June 1 and December 1 Principal Maturity Date December 1 Payable at Citibank Current and Future Principal and Interest Requirements Fiscal Levy Bond ................. Tax Levy ....................... Interest Due on ............. Year Year Numbers Principal Interest Totals June 1 Amount Dec. 1 Amount 1994 1993 346-400 $ 275~000 $~33~225 $ 308~225 1994 $ 16~61~2 1994 $ 16~613 123 VILLAGE OF GLENVIEW, ILLINOIS Long-Term Debt Requirements Corporate Purpose Bond Series of 1977 December 31, 1993 Date of Issue July 1, 1977 Date of Maturity January 1, 1998 Authorized Issue $4,525,000 Denomination of Bonds $5,000 Interest Rates Bonds 1 to 235 6.00% Bonds 236 to 320 4.60% Bonds 321 to 365 4.80% Bonds 416 to 465 4.90% Bonds 466 to 905 5.00% Interest Dates January I and July 1 Principal Maturity Date January 1 Payable at American National Bank & Trust Company of Chicago Current and Future Principal and Interest Requirements Fiscal Levy Bond .................. Tax Levy .......................... Interest Due on ............. Year Year Numbers PrIncipal Interest Totals July 1 Amount Jan. 1 Amount 1994 1993 636-695 $ 300,000 $ 67,500 $ 367,500 1994 $ 33,750 1995 $ 33,750 1995 1994 696-760 325,000 52,500 377,500 1995 26,250 1996 26,250 1996 1995 761-830 350,000 36,250 386,250 1996 18,125 1997 18,125 1997 1996 831-905 375t000 18t750 393~750 1997 9,375 1998 9~375 $1,350,000 $175~000 $1~525,000 $ 87r500 $ 87~500 Note: The principal and interest will be paid by Waterworks Fund 124 VILLAGE OF GLENVIEW, ILLINOIS Long-Term Debt Requirements Corporate Pv_rpose Bond Series of 1989 December 31, 1993 Date of Issue July 1, 1989 Date of Maturity December 1, 2004 Authorized Issue $8,000,000 Denomination of Bonds $5,000 Interest Rates 1989 - 1991 6.10% 1992 - 1993 6.20% 1994 - 1995 6.25% 1996 - 1997 6.30% 1998 - 1999 6.40% 2000 - 2001 6.50% 2002 - 2004 6.60% Interest Dates June 1 and December 1 Principal Maturity Date December 1 Payable at American National Bank & Trust Company of Chicago Current and Future Principal and Interest Requirements Fiscal Levy Bond ................. Tax Lev-? .......................... Interest Due on ............... Year Year Numbers Principal Interest Totals June 1 Amount Dec. 1 Amount 1994 1993 0276-0375 $ 500,000 $ 426,138 $ 926,138 1994 $ 213,069 1994 $ 213,069 1995 1994 0376-0480 525,000 394,888 919,888 1995 197,444 1995 197,444 1996 1995 0481-0595 575,000 362,076 937,076 1996 181,038 1996 181,038 1997 1996 0596-0715 600,000 325,850 925,850 1997 162,925 1997 162,925 1998 1997 0716-0845 650,000 288,050 938,050 1998 144,025 1998 144,025 1999 1998 0846-0985 700,000 246,450 946,450 1999 123,225 1999 123,225 2000 1999 0986-1135 750,000 201,650 951,650 2000 100,825 2000 I00,825 2001 2000 1136-1245 550,000 152,900 702,900 2001 76,450 2001 76,450 2002 2001 1246-1355 550,000 117,150 667,150 2002 58,575 2002 58,575 2003 2002 1356-1475 600,000 80,850 680,850 2003 40,425 2003 40,425 2004 2003 1476-1600 625~000 41,250 666~250 2004 20~625 2004 20,625 $6,625,000 $2,637,252 $9,262,252 $1,318,626 $1,318,626 VILLAGE OF GLENVIEW, ILLINOIS Long-Term Debt Requirements Corporate Purpose Bond Series of 1990 December 31, 1993 Date of Issue May 1, 1990 Date of Maturity December 1, 2002 Authorized Issue $4,500,000 Denomination of Bonds $5,000 Interest Rates 1991 6.10% 1992 6.25% 1993 6.40% 1994 6.45% 1995 6.60% 1996 6.70% 1997 6.80% 1998 6.85% 1999 - 2002 6.90% Interest Dates June 1 and December 1 Principal Maturity Date December 1 Payable at American National Bank & Trust Company of Chicago Current and Future Principal and Interest Requirements Fiscal Levy Bond ............... Tax Levg ........................... Interest Due on ............. Year Year Numbers Principal Interest Totals lune 1 Amount Dec. 1 Amount 1994 1993 161-220 $ 325,000 $ 272,100 $ 597,100 1994 $ 136,050 1994 $ 136,050 1995 1994 221-285 350,000 251,138 601,138 1995 125,569 1995 125,569 1996 1995 286-355 375,000 228,037 603,037 1996 114,019 1996 114,018 1997 1996 356-430 425,000 202,912 627,912 1997 101,456 1997 101,456 1998 1997 431-515 425,000 174,012 599,012 1998 87,006 1998 87,006 1999 1998 516-600 450,000 144,900 594,900 1999 72,450 1999 72,450 2000 1999 601-690 475,000 113,850 588,850 2000 56,925 2000 56,925 2001 2000 691-785 575,000 81,074 656,074 2001 40,537 2001 40,537 2002 2001 786-900 600~000 41,400 641t400 2002 20~700 2002 20~700 $4~000~000 $1~50%423 $5,50%423 $ 754~712 $ 754~711 126 VILLAGE OF GLENVIEW, ILLINOIS Long-Term Requirements Debt Corporate Purpose Bond Series of 1991 31, 1993 December Date of Issue December 1, 1991 Date of Maturity December 1, 1999 Authorized Issue $4,165,000 Denomination of Bonds $5,000 Interest Rates 1991 - 1992 4.40% 1992 - 1993 4.50% 1993 - 1994 4.70% 1994- 1995 4.70% 1995 - 1996 4.90% 1996 - 1997 5.00% 1997 - 1998 5.00% 1998 - 1999 5.10% Interest Dates December 1 Principal Maturity Date December 1 Payable at American National Bank & Trust Company of Chicago Current and Future Principal and Interest Requirements Tax Fiscal Levy Bond .................. Tax Levy ............................... Interest Due on ............... Year Year Numbers Principal Interest Totals June i Amount Dec. 1 Amount 1994 1993 161-245 $ 425,000 $ 164,485 $ 589,485 1994 $ 82,243 1994 $ 82,242 144,510 864,510 1995 72,255 1995 72,255 1995 1994 246-389 720,000 1996 1995 390-532 715,000 110,670 825,670 1996 55,335 1996 55,335 1997 1996 533-666 670,000 75,635 745,635 1997 37,818 1997 37,817 1998 1997 667-756 450,000 42,135 492,135 1998 21,067 1998 21,068 1999 1998 757-833 385,000 19,635 404,635 1999 9,817 1999 9,818 $3,365~000 $ 557,070 $3,922~070 $ 278,535 $ 278~535 Note: The above bond issue is to be retired annually by the Waterworks Fund (79%) and the Corporate Purpose Bond Series of 1991 (21°/,). The bonds payable are: $2,898,800 by Waterworks Fund and $466,200 by the by the Corporate Purpose Bond Series of 1991 Fm~d. 127 VILLAGE OF GLENVIEW, ILLINOIS Long-Term Debt Requirements Corporate Purpose Bond Series of 1992 December 31,1993 Date of Issue April 1, 1992 Date of Maturity December 1, 2012 Authorized Issue $2,895,000 Denomination of Bonds $5,000 Interest Rates 1994 4.30% 2002 6.10% 1995 4.75% 2003 6.20% 1996 5.10% 2004 6.30% 1997 5.25% 2005 6.40% 1998 5.50% 2006 6.50% 1999 5.75% 2007 - 2008 6.55% 2000 5.90% 2009 - 2012 6.60% 2001 6.00% Interest Dates June 1 and December 1 Principal Maturity Date December 1 Payable at American National Bank & Trust Company of Chicago Current and Future Principal and Interest Requirements Tax Fiscal Levy Bond Tax Levy .Interest Due on.-- Year Year Numbers Principal Interest Totals June 1 Amount Dec. 1 Amount 1994 1993 003-017 $ 85,000 $ 177,886 $ 262,886 1994 $ 88,943 1994 $ 88,943 1995 1994 018-038 95,000 174,230 269,230 1995 87,115 1995 87,115 1996 1995 039-057 95,000 169,718 264,718 1996 84,859 1996 84,859 1997 1996 058-077 100,000 164,874 264,874 1997 82,437 1997 82,437 1998 1997 078-098 105,000 159,624 264,624 1998 79,812 1998 79,812 1999 1998 099-120 110,000 153,848 263,848 1999 76,924 1999 76,924 2000 1999 121-144 120,000 147,524 267,524 2000 73,762 2000 73,762 2001 2000 145-169 125,000 140,444 265,444 2001 70,222 2001 70,222 2002 2001 170-195 130,000 132,944 262,944 2002 66,472 2002 66,472 2003 2002 196-224 145,000 125,014 270,014 2003 62,507 2003 62,507 2004 2003 225-254 150,000 116,024 266,024 2004 58,012 2004 58,012 2005 2004 255-286 160,000 106,574 266,574 2005 53,287 2005 53,287 2006 2005 287-320 170,000 96,334 266,334 2006 48,167 2006 48,167 2007 2006 321-366 180,000 85,284 265,284 2007 42,642 2007 42,642 2008 2007 367-395 195,000 73,490 268,490 2008 36,745 2008 36,745 2009 2008 396437 210,000 60,720 270,720 2009 30,360 2009 30,360 2010 2009 438-481 220,000 46,860 266,860 2010 23,430 2010 23,430 2011 2010 482-528 235,000 32,340 267,340 2011 16,170 2011 16,170 2012 2011 529~579 255,000 16,830 27¥830 2012 8~415 2012 8r415 $ 2,885,000 $ 2,180,562 $ 5,065t562 $ 1,090,281 $ 1,090~281 The Government plans to abate property taxes on the above bonds and use revenues generated by the Whc~lesale Water Fund to retire this debt. 128 VILLAGE OF GLENVIEW, ILLINOIS Long-Term Debt Requirements Corporate Purpose Bond Series of 1993 December 31, 1993 Date of Issue May 1, 1993 Date of Maturity December 1, 2005 Authorized Issue $7,635,000 Denomination of Bonds $5,000 Interest Rates 1994 4.60% 2000 4.60% 1995 4.60% 2001 4.60% 1996 4.60% 2002 4.60% 1997 4.60% 2003 4.60% 1998 4.60% 2004 4.60% 1999 4.60% 2005 4.70% Interest Dates June 1 and December 1 Principal Maturity Date December 1 Payable at American National Bank & Trust Company of Chicago Current and Future Principal and Interest Requirements Fiscal Levy .............. Tax Levy ............................ Interest Due on ................ Year Year Principal Interest Totals lune 1 Amount Dec. 1 Amount 352,560 $ 352,560 1994 $ 176,280 1994 $ 176,280 1994 1993 $ $ 1995 1994 205,000 352,556 557,556 1995 176,278 1995 176,278 1996 1995 215,000 343,126 558,126 1996 171,563 1996' 171,563 1997 1996 290,000 333,236 623,236 1997 166,618 1997 166,618 1998 1997 570,000 319,896 889,896 1998 159,948 1998 159,948 1999 1998 590,000 293,676 883,676 1999 146,838 1999 146,838 2000 1999 610,000 266,536 876,536 2000 133,268 2000 133,268 2001 2000 700,000 238,476 938,476 2001 119,238 2001 119,238 2002 2001 790,000 206,276 996,276 2002 103,138 2002 103,138 2003 2002 1,125,000 169,936 1,294,936 2003 84,968 2003 84,968 2004 2003 1,195,000 118,186 1,313,186 2004 59,093 20O4 59,093 2005 2004 1,345,0(30 63,216 1,408~216 2005 31,608 2005 31~608 $ 7,635~000 $ 3~057~676 $10~692,676 $1,528~838 $ L528t838 129 I I I I I I I I I I Statistical Sec:tion I I I I I I I I I VILLAGE OF GLENVIEW, ILLINOIS Property Tax Assessed Valuations, Rates, Extensions, and Collections - Last Ten Fiscal Years December 31, 1993 (See Following Page) VILLAGE OF GLENVIEW, ILLINOIS Property Tax Rates - Direct and Overlapping Governments - Last Ten Fiscal Years December 31, 1993 (See Following Page) VILLAGE OF GLENVIEW, ILLINOIS Schedule of Direct and Overlapping Bonded Debt December 31, 1993 Percent of Village's Village's Applicable Shares 1992 Real (Note 1) of Gross Property Gross Debt to be Paid from th Taxing Bonded Real Property Taxes Body Debt Percent Amount SCHOOL DISTRICTS: Elementary Districts: Glenview School Dist. No. 34 71.6°/',, $ 4,375,000 84.897% $ 3,680,285 Northbrook School Dist. No. 30 9.6 3,950,000 31.898 1,259,971 West Northfield School Dist. No. 31 8.1 6,200,000 19.662 1,219,044 Wilmette School Dist. No. 39 3.3 4,215,000 4.884 205,860 Golf School Dist. No. 67 2.8 1,300,000 15.239 198,107 East Maine School Dist. No. 63 2.8 15,100,000 4.274 645,374 Avoca School Dist. No. 37 1.8 6,405,000 7.638 489,213 100.0 High School Districts: Northfield Township High School Dist. No. 225 88.6 3,700,000 33.563 1,241,831 New Trier Township High School Dist. No. 203 5.1 7,625,000 2.414 184,068 Niles Township High School Dist. No. 219 3.4 6,650,000 1.419 94,364 Maine Township High School Dist. No. 207 2.9 1.042 100.0 Comm~mity College District: Oakton Comm. College No. 535 100.0 10,125,000 8.647 875~509 Total School Districts 10,093,626 OTHER THAN SCHOOL DISTRICTS: Cook Cotmty, Incl. Forest Preserve Dist. 100.0 1,464,670,000 (2) 1.427 21,559,942 Metropolitan Water Reclamation Dist. 100.0 1,041,050,000 (2)(3) 1.459 15,188,919 Glenview Park Dist. 99.4 6,810,000 80.887 5,508,404 Northbrook Park District 0.5 3,500,000 (4) 0.137 4,795 Northfield Woods Sanitary Dist. 6.9 1,675,000 7.724 129,377 Glenview Special Service Areas Various 1,215,231 100.000 1~215,231 Total Other Than School Districts 43,606,668 Village of Glenview 100.0 26,135,000 6%741~668 Total Direct and Overlapping Bonded Debt $ 7%835r294 Note: 1. Village's share based upon 1992 Real Property valuations. 2. Excludes General Obligation Notes issued in lieu of tax anticipation warrants and notes issued to provide interim construction financing. 3. Includes the $477,600,000 Issue which sold on April 15, 1993:$253,240,000 General Obligation Capital Improvement Bonds, Series 1993 auld $224,360,000 General Obligation Refunding bonds, Series 1993. 4. Excludes $14,375,000 "Alternate Bonds" issued pursuant to Public Act 85-1419, which are considered to be self-supporting since they are payable from user fees or other pledged non- property tax sources. 137 VILLAGE OF GLENVIEW, ILLINOIS Schedule of Legal Debt Margin December 31, 1993 There is no legal debt limit for home rule municipalities in Illinois. Article VII, Section 6(k) of the 1970 Illinois Constitution governs computation of the legal debt margin. "The General Assembly may limit by law the amount and require referendum approval of debt to be incurred by home rule municipalities, payable from ad valorem property tax receipts, only in excess of the following percentages of the assessed value of its taxable property ...(2) if its population is more than 25,000 and less than 500,000 an aggregate of one per cent: ...indebtedness which is outstanding on the effective date (July 1, 1971) of this constitution or which is thereafter approved by referendum.., shall not be included in the foregoing percentage amounts." To date the General Assembly has set no limits for home rule municipalities. 138 VILLAGE OF GLENVIEW, ILLINOIS Demographic Statistics Last Ten Fiscal Years December 31, 1993 Education Level in Per Years of (2) (3) Fiscal (1) Capita Median Formal School Unemployment Year Population Income Age Schooling Enrollment Percentage 1984 34,225 15,856 33.8 15.6 2,751 5.4% 1985 34,500 18,632 33.8 15.6 2,666 4.9 1986 36,375 18,741 33.6 15.7 2,701 4.2 1987 36,400 19,490 33.9 15.9 2,794 4.1 1988 36,400 21,429 34.5 16.4 2,963 4.2 1989 36,400 22,350 34.7 16.5 3,024 3.5 1990 37,093 22,791 34.9 16.4 3,121 3.6 1991 38,079 24,838 35.5 16.6 3,015 4.3 1992 38,079 30,531 37.5 16.4 5,887 4.8 1993 38,079 30,531 37.5 16.5 5,937 4.7 Data Sources (1) U.S. Department of Commerce, Bureau of the Census, 1991 Social Census. (2) Includes elementary and high school students. (3) Illinois Department of Labor, Illinois Department of Employment Security. 141 m m VILLAGE OF GLENVIEW, ILLINOIS Miscellaneous Statistics December 31, 1993 of Incorporation June 20, 1899 of Government Council-Manager Geographic Location 20 Miles North of Chicago 13 Square Miles Population 1950 (1) 6,142 1960 (1) 18,132 1963 22,364 1970 (1) 24,880 1975 30,552 1980 (1) 32,060 1984 34,225 1985 34,500 1986 36,375 1987 36,400 1988 36,400 1989 36,400 1990 (1) 37,093 1991 (1) 38,079 1992 38,079 1993 38,079 Number of Total Housing Units (1993 Census) 14,165 Median Value Owner-Occupied Noncondominium Housing Units $ 233,400 Distribution of Owner-Occupied Noncondominium Houses by Value Value by Range (1) Unit Distribution Number Percent Under $100,000 305 3.2% 100,000 - 199,999 3,303 34.7 200,000 - 299,999 2,895 30.4 300,000 or More 3t017 31.7 9,520 100.0% The above information from the Bureau of the Census, other years estimated. (Continued) VILLAGE OF GLENVIEW, ILLINOIS Miscellaneous Statistics December 31, 1993 Fire Protection Number of Firefighters 79 Number of Stations 3 Number of Fire Hydrants 2,005 I.S.O. Rating Class 3 Police Protection Number of Police Officers 63 Number of School Crossing Guards 18 Number of Stations 1 Library Services Number of Libraries 1 Number of Books 228,112 Number of Records 3,827 Number of Audio Cassettes 6,578 Number of Slides 246 Number of Video Tapes 4,232 Number of Compact Discs 3,911 Number of Registered Borrowers 42,301 1993 Book Circulation 694,822 Recreation Facilities Number of Parks and Playgrounds 24 Park area in acres - Park District owned 340 Park area in acres - Park District leased 125 Municipal Parking Facilities Number of parking spaces 666 Waterworks Fund Number of sewer customers served during fiscal year 9,190 Number of metered water customers at December 31, 1993 13,277 Number of unmetered water customers at December 31, 1993 None Gallons of water purchased during fiscal year 2,036,774,000 Gallons of water billed during fiscal year 1,868,600,000 Water Storage Capacity Ground Storage 8,500,000 Elevated Storage 1,000,000 (Continued) 145 VILLAGE OF GLENVIEW, ILLINOIS Miscellaneous Statistics December 31, 1993 Number of Full Time Employees (on December 31, 1993) 272 Miles of streets maintained by Glenview identified by functional classification: Arterial 7 Collector 5 Residential 54 Cul-De-Sacs 12 Total 108 Miles of streets maintained by Glenview identified by surface type: Asphalt 91 Concrete 17 Total 108 Miles of alleys maintained by Glenview 2.2 Miles of streets within the Village of Glenview maintained by Cook County 22 or the State of Illinois Miles of sarritary sewers 85 Miles of storm sewers 74 Number of Village owned street lights 66 Building activity Number of Permits issued in 1993 251 Value of Construction authorized in 1993 $ 36,272,750 146 VILLAGE OF GLENVIEW, ILLINOIS Salaries and Surety Bonds of Principal Officials December 31, 1993 Annual Amount of Salary Surety Bond Village President $ 1,200 $ 250,000 Village Trustees 300 250,000 Village Treasurer, Manager, and Clerk 102,216 500,000 Finance Director 79,156 250,000 Purchasing Agent 48,588 250,000 Assistant Finance Director 53,268 250,000 Assistant Village Manager 55,703 250,000 Police Chief 73,528 250,000 Deputy Police Chief 60,972 250,000 Fire Chief 73,528 250,000 Deputy Fire Chief 60,972 250,000 Fire Commander 54,755 250,000 Director of Development 73,528 250,000 Village Engineer 61,944 250,000 Public Works Superintendent 57,528 250,000 Director of Building and Zoning 61,944 250,000 Water Distribution Superintendent 57,528 250,000 Head Librarian 66,150 250,000 Public Works Director 73,528 250,000 148 VILLAGE OF GLENVIEW, ILLINOIS Major Corporate Fund Revenue Sources Non - Real Estate Tax December 31, 1993 % of % of % of Sales Total Utility Total Income Total Year Tax Revenue Tax Revenue Tax Revenue 1984 $ 1,974,783 27.0% $ 1,991,104 27.2% $ 766,168 10.5% 1985 2,462,183 30.2 1,999,838 24.5 723,008 8.8 1986 2,815,209 28.7 2,066,996 21.1 804,896 8.2 1987 3,178,578 30.3 2,119,255 20.2 900,124 8.6 1988 3,132,518 30.3 2,202,445 21.3 952,708 9.2 1989 3,425,477 28.8 2,414,772 20.3 1,406,056 11.8 1990 3,287,825 25.6 2,419,761 18.9 1,345,428 10.4 1991 3,358,151 28.5 2,687,159 22.8 1,605,474 13.6 1992 3,608,071 26.7 2,744,525 20.3 1,651,925 12.2 1993 4,188,116 29.4 2,876,149 20.2 1,966,124 13.8 149