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HomeMy Public PortalAbout1985 Comprehensive Annual Financial ReportCOMPREHENSIVE ANNUAL FINANCIAL REPORT FORTHE FISCALYEAR ENDED DECEMBER 31, '1985 PREPARED BY DENNIS M. LAUER FINANCE DIRECTOR VILLAGE OF GLENVlEW TABLE OF CONTENTS PAGE INTRODUCTORY SECTION Principal Officials i Organization Chart ii Certificate of Achievement for Excellence in Financial Reporting iii Village Manager's Letter of Transmittal iv-v Director of Finance's Letter of Transmittal vi-xiv FINANCIAL SECTION AUDITORS' REPORT ON THE FINANCIAL STATEMENTS 1-2 COMBINED STATEMENTS - OVERVIEW ("Liftable" General Purpose Financial Statements) Combined Balance Sheet - All Fund Types and Account Groups 3 Combined Statement of Revenues, Expenditures, and Changes in Fund Balances - All Governmental and Fiduciary (Expendable Trust) Fund Types 4 Combined Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual - General, Special Revenue, Debt Service, and Capital Projects Fund Types 5 Combined Statement of Revenues, Expenses, and Changes in Retained Earnings/Fund Balances - All Proprietary and Fiduciary (Pension Trust) Fund Types 6 Combined Statement of Changes in Financial Position - Ail Proprietary and Fiduciary (Pension Trust) Fund Types 7 Notes to the Financial Statements 8-35 FINANCIAL STATEMENTS OF INDIVIDUAL FUNDS GOVERNMENTAL FUND TYPES GENERAL FUND CORPORATE FUND Financial Statements Balance Sheet 36 Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 37 TABLE OF CONTENTS (CONT.) FINANCIAL SECTION (CONT.) PAGE GOVERNMENTAL FUND TYPES (CONT.) GENERAL FUND (CONT.) COP. PORATE FUND (CONT.) Supplemental Statements Statement of Revenues - Budget and Actual 38 Statement of Expenditures - Budget and Actual 39-49 SPECIAL REVENUE FUNDS All Funds Financial Statements Combining Balance Sheet 50 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 51 Library Fund Financial Statements Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 52 Supplemental Statements Statement of Expenditures - Budget and Actual 53 Federal Revenue Sharing Fund Financial Statements Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 54 Illinois Municipal Retirement Fund Financial Statements Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 55 Motor Fuel Tax Fund Financial Statements Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 56 TABLE OF CONTENTS (CONT.) PAGE FINANCIAL SECTION (CONT.) GOVERNMENTAL FUND TYPES (CONT.) DEBT SERVICE FUNDS All Funds Financial Statements Combining Balance Sheet 57 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 58 Supplemental Statement Combining Statement of Revenues and Expenditures - Budget and Actual 59 CAPITAL PROJECTS FUNDS All Funds Financial Statements Combining Balance Sheet 60 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 61 Pnblic Works Garage Fund Financial Statements Statement of Revenues, Expenditures, and ~anges in Fund Balance - Budget and Actual 62 Capital Equipment Replacement Fund Financial Statements Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 63 Capital Projects Fund Financial Statements Statement of Revenues, Expenditures, and Changes in Fund Balance - Bodget and Actual 64 TABLE OF CONTENTS (CONT.) PAGE FINANCIAL SECTION (CONT.) PROPRIETARY FUND TYPES ENTERPRISE FUNDS All Funds Financial Statements Combining Balance Sheet 65 Combining Statement of Revenues, Expenses, and Changes in Retained Earnings - Unreserved 66 Combining Statement of Changes in Financial Position 67 Waterworks and Sewerage Fund - East Financial Statements Balance Sheet 68 Statement of Changes in Contributed Capital 69 Statement of Changes in Retained Earnings - Reserved - Restricted Accounts 70 Statement of Revenues, Expenses, and Changes in Retained Earnings - Unreserved - Budget and Actual 71 Supplemental Statements Statement of Operating Expenses - Budget and Actual 72-74 Statement of Fixed Assets and Depreciation 75 Waterworks and Sewerage Fund - West Financial Statements Statement of Revenues, Expenses, and Changes in Retained Earnings - Unreserved - Budget and Actual 76 Supplemental Statements Statement of Operating Expenses - Budget and Actual 77-78 Statement of Fixed Assets and Depreciation 79 Commuter Parking Lot Fund Financial Statements Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual 80 Supplemental Statements Statement of Fixed Assets and Depreciation 81 TABLE OF CONTENTS (CONT.) PAGE FINANCIAL SECTION (CONT.) PROPRIETARY FUND TYPES (CONT.) INTERNAL SERVICE FUND Mnnicipal Equipment Repair Fund Financial Statements Balance Sheet 82 Statement of Revennes, Expenses, and Changes in Retained Earnings - Budget and Actual 83 Statement of Changes in Financial Position 84 Supplemental Statement Statement of Operating Expenses - Budget and Actual 85 FIDUCIARY FUND TYPES TRUST AND AGENCY FUNDS Ail Funds Financial Statements Combining Balance Sheet 86 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances (Expendable Trust Funds) 87 Combining Statement of Revenues, Expenses, and Changes in Fund Balances (Pension Trust Funds) 88 Combining Statement of Changes in Financial Position (Pension Trust Funds) 89 Pension Trust Funds Police Pension Fund Financial Statements Statement of Revenues, Expenses, and Changes in Fund Balance - Bndget and Actual 90 Firemen's Pension Fund Financial Statements Statement of Revenues, Expenses, and Changes in Fund Balance - Budget and Actual 91 TABLE OF CONTENTS (CONT.) PAGE FINANCIAL SECTION (CONT.) ACCOUNT GROUPS GENERAL FIXED ASSETS ACCOUNT GROUP Financial Statements Statement of General Fixed Assets 92 Supplemental Statements Statement of General Fixed Assets - By Function and Activity 93 Statement of Changes in General Fixed Assets - By Function and Activity 94 GENERAL LONG-TERM DEBT ACCOUNT GROUP Financial Statements Statement of General Long-Term Debt 95 SUPPLEMENTARY DATA Combined Statement of Cash and Investments 96 Combined Statement of Other Investments 97-99 Statement of Insurance in Force 100 Long-Term Debt Requirements Waukegan Road Sanitary District Sewer Bond Series of 1968 101 Police Administration Building Bond Series of 1972 102 Municipal Building Bond Series of 1979 103 General Obligation Library Bond Series of 1984 104 General Obligation Library Bond Series of 1985 105 Special Service Area #1 Bond Series of 1980 106 Special Service Area #2 Bond Series of 1981 107 Special Service Area #3 Bond Series of 1981 108 Special Service Area #4 Bond Series of 1982 109 Special Service Area #5 Bond Series of 1985 110 Corporate Purpose Bond Series of 1977 111 Corporate Purpose Bond Series of 1979 112 TABLE OF CONTENTS (CONT.) PAGE STATISTICAL SECTION General Governmental Revenues by Source - Last Ten Fiscal Years 113 General Governmental Expenditures by Function - Last Ten Fiscal Years 114 Property Tax Assessed Valuations, Rates, Extensions and Collections - Last Ten Fiscal Years 115 Assessed and Estimated Actual Value of Taxable Property - Last Ten Fiscal Years i16 Property Tax Rates - All Overlapping Governments - Last Ten Fiscal Years 117 Special Assessment Collections - Last Ten Fiscal Years 118 Ratio of Net General Bonded Debt to Assessed Value and Net Bonded Debt Per Capita - Last Ten Fiscal Years 119 Statement of Direct and Overlapping Debt 120 Statement of Legal Debt Margin 121 Ratio of Annual Debt Service Expenditures for General Bonded Debt to Total General Governmental Expenditures - Last Ten Fiscal Years 122 Statement of Revenue Bond Coverage - Last Ten Fiscal Years 123 Demographic Statistics - Last Ten Fiscal Years 124 Construction, Bank Deposits and Property Values - Last Ten Fiscal Years 125 Principal Taxpayers 126 Miscellaneous Statistics 127-128 Municipal Services and Facilities 129 Ten Wealthiest Illinois Communities - 1980 Census 130 Salaries and Surety Bonds of Principal Officials 131 I I I I I I i I I I Introductory Section I ! I i ! I I I I I I I VILLAGE OF GLENVIEW~ ILLINOIS PRINCIPAL OFFICIALS I DECEMBER 31r 1985 ! LEGISLATIVE I VILLAGE BOARD ,OF,~RUSTEES James W. Smirles, President I Scott J. Helton Delia Brady Stowe Ronald V. Norene James M. Weiss I Lowell Scott Well (Vacant) Katherine G. Appert, Clerk ! EXECUTIVE I Paul T. McCarthy, Village Manager I FINANCE DEPARTMENT I Dennis M. Lauer, Director of Finance I Mary L, Reibel, Village Accountant ! ! ! ± ! ORGANIZATIONAL CHART ~ELECTORATE 4 YR, TERM 4 YR. TERM 4 YR. TERM BOARDS AND COMMISSIONS APPOINTED BY THE PRESIDENT AND BOARD OF TRUSTEES PLAN COMMISSION POLICE AND FIRE COMMISSION ZONING BOARD OF APPEALS Certificate of Conformance in Financial Reporting Presented to Village of Glenview, Illinois For its Comprehensive Annual Financial Report for the Fiscal Year Ended December 31, 1984 A Certificate of Conformance in Financial Reporting is presented by the Government Finance Officers Association of the United States and Canada to governmental units and public employee retirement systems whose comprehensive annual financial reports {CAFR's) are judged to substantially conform to program standards. President ~x~cutiv~ Director I TELEPHONE April 15, 1986 I Honorable President and Members of the Board of Trustees Village of Glenview I Gentlemen: I 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, 1985 and for the i 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, I 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 I as measured by the financial activity of the various funds. Disclosures necessary to enable the reader to gain maximum understanding of the Village's financial affairs have also i been included. In developing and evaluating the Village's accounting system, consideration is given to the adequacy of internal I accounting controls. Internal accounting controls are discussed by the Director of Finance in his accompanying letter of transmittal, and within that framework, I believe I that the Village's internal accounting controls adequately safeguard assets and provide reasonable assurance of proper recording of financial transactions. I report been prepared following the guidelines This has recommended by the Government Finance Officers Association of the United States and Canada. The Government Finance I Officers Association awards Certificates of Achievement to those governments whose comprehensive annual financial reports are judged to conform substantially with high i standards of public reporting including generally accepted accounting principles promulgated by the Governmental Accounting Standards Board. It is my belief that the accompanying financial report meets the program standards I and it will be submitted to the Government Finance Officers Association for review. The Village of Glenview has held a certificate for the last three consecutive fiscal years. ! ! In eecordanee with the above mentioned guidelines, the accompanying report consists of three parts: 1. Introductory section, a letter of transmittal from the Director of Finance. 2. Financial section, including the financial statements and supplemental data of the government accompanied by our independent auditor's opinion 3. Statistical section, including a number of tables of 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 Vllla~e of Glenview, as well as all sectors of the economy, is the impact of inflation on our budget. Presently our revenues are strong in all areas with the possible exception of the Waterworks and Sewerage Fund-East. However, I believe the water rate increase scheduled to go into effect on January 1, 1986 will strengthen that fund. Revenue 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 evaluating 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 upgrading the accounting and financial past years toward 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 April 15, 1986 V _L6n, vl6 -- TELEPHONE April 15, 1986 Mr. Paul T. McCarthy, Village Manager Village of Glenview Glenview, Illinois 60025 The Comprehensive Annual Financial Report of the Village of G1 enview for the fiscal year ended December 31, 1985 is submitted herewith. This report was prepared by the Vi 1 lage' s Finance Department. Responsibility for both the accuracy of the presented data and the completeness and fairness of the presentation, including all disclosures, rests with the Village. I believe the data, as presented, is accurate in all material aspects; that it is presented in a manner designed to fairly set forth the financial position and results of operations of the Village as measured by the financial activity of its various funds; and that all disclosures necessary to enable the reader to gain the maximum understanding of the Vii lage' s financial affairs have been included. Accounting System and Budgetary Control In developing and evaluating the Village's accounting system, consideration is given to the adequacy of internal accounting controls. Internal accounting controls are designed to provide reasonable, but not absolute, assurance regarding the Safeguarding of assets against loss from unauthorized use or disposition and the reliability of financial records for preparing financial statements and maintaining accountability for assets. The concept of reasonable assurance recognizes that the cost of a control should not exceed the benefits likely to be derived and the evaluation of costs and benefits requires estimates and judgments by management. All internal control evaluations occur within the above framework. I believe that the Village's internal accounting controls adequately safeguard assets and provide reasonable assurance of proper recording of financial transactions. Budgetary control is maintained at the department and/or subdepartment level by estimating purchase mounts prior to vi LEAVlEW the release of purchase orders to vendors. Purchase orders which result in an overrun of account budgets are not released until appropriate budget transfers have been made. Open purchase orders, if any, are reported as reservations of fund balance at December 31, 1985. The Reporting Entity and Its Services This report includes all of the funds and account groups of the Village. It also includes all activities considered to be part of the Village of Glenview as determined by the application of the criteria set forth in "Defining the Governmental Reporting Entity - NCGA Statement 3". In accordance with NCGA Statements 3 and 7, for financial reporting purposes the Village's financial statements include all funds, account groups, departments, agencies, boards, commissions and other organizations over which Village officials exercise oversight responsibility. responsibility such aspects as Oversight includes appointment of governing body members, budget approval, approval of property tax levies, outstanding debt secured by Village full faith and credit or revenues, responsibility for funding deficits and others. The Village considered the following entities when implementing NCGA Statements 3 and 7. The criteria in Statements 3 and 7 did not require the inclusion of these entities in the Village's financial statements principally because the Village does not exercise oversight responsibility over such entities. Listed below are the entities that were considered: Regional Emergency Dispatch Center Northwest Mosquito Abatement District Glenbrook Fire Protection District Glen Oak Sanitary District Waukegan Road Sanitary District The Village provides the full range of municipal services contemplated by statute or charter. This includes public safety (police and fire), highways and streets, sanitation, health and social services, culture-recreation, public improvements, planning and zoning, and general administrative services. vii LE VIEUJ Special Service Area #2 Bonds 31,053 Special Service Area #3 Bonds 20,431 iSpecial Service Area #4 Bonds 77,726 Special Service Area ~5 Bonds 48,000 Gross Bonded Debt December 31, 1985 $12,542,210 ! iRatio of debt to DeBt per Amount assessed value * capita * Gross Bonded Debt $12,542,210 2.95% $353.05 I * Estimated 1985 assessed valuation $425,000,000 I* Estimated 1985 Population 35,525 Gross Bonded Debt at December 31, 1985 totaled $12,542,210 ias shown above. However, $8,025,000 is the balance remaining on bonds issued for water system improvements. These issues are identified as Corporate Purpose Bonds, 1977 and 1979. Because these bonds are being Iretired with water fund revenue, they are considered self- supporting. The five special service area bonds were issued in the name of the Village of Glenview and in theory, iconstitute a debt of the Vii lage. These issues are being retired by a tax applied only to the special service area affected. Therefore, they are excluded, as are the water improvement bonds from the following calculation. Below is Ia recalculation of the ratio of debt to assessed value and debt per capita based on net bonded debt. I Ratio of debt to Debt per Amount assessed value * capita * Net I Debt $3,933,569 .93% $110.73 Bonded The net amount of $371,431 represents the available Debt Service Fund money. Available funds relate only to general obligation bond issues and is net of issues retired from Iwater fund revenue and Special Service Area Bonds. · See Note Above ! IMoody's ~vestor$ Ser¥ice The Village's General Obligation Bonds continue to have the IAa rating which they have carried for the past several years. It should be pointed out that the Village of Glenview has no outstanding revenue bonds as of December 31, 1985o On August 21, 1984 the Village Board adopted Ordinance #2582 defeasing the remaining revenue bonds. Cash Management I Cash temporarily idle during the year was invested in savings accounts, short term certificates of deposit, money imarket funds, U. S. treasury notes, bonds and Government National Mortgage Association bonds held mainly for the Police and Fire Pension Funds. The average yield on short term investments he ld on December 31, 1985, was 7.31 Ipercent. All of the investments held as of December 31, 1985 conform to all of the provisions of the Village's investment policy as it was adopted on February 21, 1983. I Capital Projects Funds iProceeds of general obligation bond issues are accounted for in Capital Projects Funds until improvement projects are completed. Completed projects and uncompleted construction in progress at year end are capitalized in the General Fixed IAssets Account Group. In 1985 there was one bond issue for $150,000. The proceeds were used to complete the library expansion project. General Fixed Assets The general fixed assets of the Village are those fixed Iassets used in the performance of general governmental functions and exclude the fixed assets of Enterprise and Internal Service Funds. As of December 31, 1985, the Igeneral fixed assets of the Village amounted to $18,156,741. This amount represents the original cost of the assets and is considerably less than their present value. Depreciation Iof general fixed assets is not recognized in the Village's accounting system. Waterworks and Sewerage Funds I The financial position of the Waterworks and Sewerage Fund- East improved as a result of operation in fiscal year 1985. The fund experienced operating income of $842,081. A complete analysis of this fund was submitted to the Board along with a recommendation for a rate increase in late 1985. The rate adjustments were approved. LEnVlELU the year in a stable Waterworks and Sewerage Fund-West ended financial position. This fund ended the year with a net operating income, exclusive of depreciation, of $1,175,560. The reserve balance as of December 31, 1985 is adequate to properly administer this fund. BOND COVERAGE East Fund ¥~est Fund 1985 1985 Operating revenue $1,995,056 $2,207,923 Operating expenses 1,586,132 1,032,363 Operating income $ 408,924 $1,175,560 Annual Debt Service 52,450 904,068 Coverage (income available for debt service divided by average annual debt service) 7.80 1.30 Independent Audit State Statutes require an annual audit of the books of account, financial records, and transactions of all administrative departments of the Village by independent certified public accountants selected by the Board of Trustees. This requirement has been complied with and the auditor's opinion has been included in this report. xii LE VIEUJ Certificate of Achievement The Government Finance Officers Association of the United States and Canada (GFOA) awards a Certificate of Achievement to units of Government for the comprehensiveness of its financial report. The Certificate of Achievement For Excellence In Financial Reporting program was formerly known as the Certificate of Conformance in Financial Reporting In order to be awarded a Certificate of Achievement, a governmental unit must publish an easily readable and efficiently organized comprehensive annual financial report, whose contents conform to program standards. Such reports must satisfy both generally accepted accounting principles and applicable legal requirements. A Certificate of Achievement is valid for a period of one year only. I believe our current report conforms to the program requirements. I will submit this report to GFOA to determine its eligibility for a certificate. The Village of Glenview currently holds a Certificate of Conformance for its Comprehensive Annual Financial Report for the year ended December 31, 1984. The Village also previously held a certificate for fiscal years 1983 and 1982. Prospects for the Future Beginning with 1986 the Village of Glenview will account for financial control over sewer operations in a new enterprise fund. Early in the year a rate study will be submitted to the board recommending adjustments to the amount charged for vehicle registration of trucks. Also next year a recommendation to close the Public Works Garage Construction Fund will be submitted. Finally the staff will complete a study and suggest changes to the method by which all building permits are calculated. Major road repairs for Prairie Street are scheduled for the summer of 1986. The Village's share in this is project expected to be $176,000. Also, resur facing projects are planned for Raleigh Road and Vernon Drive. The combined projects will cost the Village $200,000. LE VIEUJ Acknowledgements The preparation of this report on a timely basis could not be accomplished without the efficient and dedicated services of the entire staff of the Finance Department. I should like to express my appreciation to ail members of the Department who assisted and contributed to its preparation. I should also like to thank the President and Board of Trustees for their interest and support in planning and conducting the financial operations of the Village in a professional and progressive manner. Re sp~ively submitted, Dennis M. Lauer Director of Finance xiv I I I I I I I I I Financial Section ! I I I I I I i I I The Honorable James W. Smirles, Village President Members of the Board of Trustees of Glenview Village 1225 Waukegan Road Glenview, Illinois 60025 We have examined the combined financial statements of the Village of Glenview, Illinois and the combining, individual fund, and account group financial statements of the Village as of and for the year ended December 31, 1985 as listed in the table of contents. Our examination was made in accordance with generally accepted auditing standards and, accordingly, included such tests of the accounting records and such other auditing procedures as we considered necessary in the circ~stances. In our opinion, the combined financial statements referred to above present fairly the financial position of the Village of Glenview, Illinois, at December 31, 1985, and the results of its operations and the changes in financial position of its proprietary fund types and similar trust funds for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year. Also, in our opinion, the combining, individual fund, and account group financial statements referred to above, present fairly the financial position of the individual funds and account groups of the Village of Glenview, Illinois at December 31, 1985 and the results of operations of such funds and the changes in financial position of individual proprietary fund types and similar trust funds for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year. Bank of Wheaton Building · 21 I Sou~ Wheaton Avenue · Whea~n, Illinois 60187 · (312) 665-4510 Village of Glenview, Illinois 2 Our ex~ination was made for the pnrpose of foxing an opinion on the combined financial statements taken as a whole and on the c~bining, individual fund, and account group financial statements. ~e accompanying financial infomation listed as supplemental in the table of contents is presented for purposes of additional analysis and is not a required part of the combined financial statements of the Village of Glenview, Illinois. ne info~atiom has been subjected to the auditing procedures applied in the ex~ination of the combined, combining, individual fund, and account group financial statements and, in our opinion, is fairly stated in all material respects in relation to the combined financial statements taken as a whole. The statistical infomation listed in the table of contents was not ex~ined by us and, accordingly, we do not express an opinion thereon. Karrison & Byrne March 11, 1986 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, 1985 See Following Page) Taxe~ $ 865,10~ $ 865,10~ $ 783,279 ~at~ ~s (~s) ~t eeest ~ (~,518) (~,518) (561,432) $ (476~9) $ 2~492 $ (473~977) $ (517~572) ~aeat~ ~fers (~t) (~,357) (~,357) (2~,470) 8 VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1985 1. Summary of Significant Accounting Policies The accounting policies of the Village of Glenview, Illinois conform to generally accepted accounting principles as applicable to governments. The following is a summary of the more significant policies. A. Reporting Entity and Its Services This report includes all of the funds and account groups of the Village. It also includes all activities considered to be part of (controlled by or on) the Village, as determined by the application of the criteria dependent set forth in "Defining the Governmental Reporting Entity - NCGA Statement 3". In accordance with NCGA Statements 3 and 7, for financial reporting purposes the Village's financial statements include all funds, account groups, departments, agencies, boards, commissions and other organizations over which Village officials exercise oversight responsibility. For Joint Venture disclosures see Note 5.A. Oversight responsibility includes such aspects as appointment of governing body members, budget approval, approval of property tax levies, outstanding debt secured by Village full faith and credit or revenues, responsibility for funding deficits and others. The Village considered the following entities when implementing NCGA Statements 3 and 7. The criteria in Statements 3 and 7 did not require the inclusion of these entities in the Village's financial statements principally because the Village does not exercise oversight responsibility over such entities. Listed below are the entities that were considered: Regional Emergency Dispatch Center Northwest Mosquito Abatement District Glenbrook Fire Protection District Waukegan Rd. Sanitary District Glen Oaks Sanitary District The Village of Glenview, Illinois was incorporated in 1899. The Village operates under a Council-Manager form of government and provides the authorized by its charter: public safety (police and following services fire), highways and streets, sanitation, health and social services, culture-recreation, public improvements, planning and zoning, and general administrative services. B. Basis of Presentation - Fund Accounting The accounts of the Village are organized on the basis of funds and account groups, each of which is considered a separate accounting entity. The operations of each fund are accounted for with a separate set of self- balancing accounts that comprise its assets, liabilities, fund equity, revenues, and expenditures, or expenses, as appropriate. Government VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1985 Summary of Significant Accounting Policies (Cont.) B. Basis of Presentation - Fund Accounting (Cont.) resources are allocated to and accounted for in individual funds based upon the purposes for which they are to be spent and the means by which spending activities are controlled. The various funds are grouped, in the financial statements in this report, into seven generic fund types and three broad fund categories as follows: GOVERNMENTAL FUNDS General Fund - The General Fund is the general operating fund of the Village. It is used to account for all financial resources except those required to be accounted for in another fund. Special Revenue Funds - Special Revenue Funds are used to account for the proceeds of specific revenue sources (other than special assessments, ex- pendable trusts, or major capital projects) that are legally restricted to expenditures for specified purposes. Debt Service Funds - Debt Service Funds are used to account for the accumu- lation of resources for, and the payment of, general long-term debt princi- pal, interest, and related costs. Capital Projects Funds - Capital Projects Funds are used to account for fi- nancial resources to be used for the acquisition or construction of major capital facilities (other than those financed by Proprietary Funds, Special Assessment Funds, and Trust Funds). PROPRIETARY FUNDS Enterprise Funds - Enterprise Funds are used to acconnt for operations (a) that are financed and operated in a manner similar to private business enterprises - where the intent of the governing body is that the costs (expenses, including depreciation) of providing goods or services to the general public on a continuing basis be financed or recovered primarily through user charges; or (b) where the governing body has decided that periodic determination of revenues earned, expenses incurred, and/or net income is appropriate for capital maintenance, pnblic policy, management control, accountability, or other purposes. Internal Service Funds - Internal Service Funds are used to account for the financing of goods or services provided by one department or agency to other departments or agencies of the Village, or to other governments, on a cost-reimbursement basis. VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31~ 1985 1. S,~mary of Significant Accounting Policies (Cont.) D. Budgets and Budgetary Accounting (Cont.) The following funds adopt annual operating budgets: Fund Budgetary Basis of Accountin~ General General Modified Accrual Special Revenue Library M~dified Accrual Federal Revenue Sharing Modified Accrual Illinois Municipal Retirement Modified Accrual Motor Fuel Tax Modified Accrual Debt Service Waukegan Road Sanitary District Bond Series of 1968 Modified Accrual Police Administration Building Bond Series of 1972 Modified Accrual Municipal Building Bond Series of 1979 Modified Accrual Library Bond Series of 1984 Modified Accrual Special Service Area No. 1 of 1981 Modified Accrual Special Service Area No. 2 of 1981 Modified Accrual Special Service Area No. 3 of 1981 Modified Accrual Special Service Area No. 4 of 1982 Modified Accrual Capital Projects Public Works Garage Modified Accrual Capital Equipment Replacement Modified Accrual Capital Projects Modified Accrual Enterprise Waterworks and Sewerage - East Accrual Waterworks and Sewerage - West Accrual Commuter Parking Lot Accrual Internal Service Municipal Equipment Repair Accrual Trust Police Pension Accrual Firemen's Pension Accrual The level of control (level at which expeditures may not exceed budget) is the Fund. Budgets lapse at year end. No supplemental budget was enacted. VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1985 8uaaaary of Sign~flcant ~ccount~ng ?ol£cles (Cont.) Assets, Liabilities, and Fund Equity Investments Investments are stated at cost or amortized cost, which approximates market. The Village adopted a cash control and investment policy in February of 1983. This policy specifies what financial instruments and institutions the Village will use for investment of idle funds. The policy is consistent with current state law. As of the date of this report all of the Village's investments were in accordance with this policy. Inventory Inventory is valued at the lower of cost (first-in, first-out) or market. Inventory is recorded on a basis of a physical count. Fixed Assets and Long-Term Liabilities The accounting and reporting treatment applied to the fixed assets and long-term liabilities associated with a fund are determined by its measurement focus. All Governmental Funds and Expendable Trust Funds are accounted for on a spending or "financial flow" measurement focus. This means that only current assets and current liabilities are generally included on their balance sheets. Their reported fund balance (net current assets) is considered a measure of "available spendable resources." Governmental fund operating statements present increases (revenues and other financing sources) and decreases (expenditures and other financing uses) in net current assets. Accordingly, they are said to present a summary of sources and uses of "available spendable resources" during a period. Fixed assets used in governmental fund type operations (general fixed assets) are accounted for in the General Fixed Assets Account Group, rather than in governmental funds. Public domain ("infrastructure") general fixed assets consisting of certain improvements other than buildings, including VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1985 1. Summary of Significant Accounting Policies (Cont.) E. Assets, Liabilities, and Fund Equity (Cont.) Fixed Assets and Long-Term Liabilities (Cont.) roads, bridges, curbs and gutters, streets and sidewalks, drainage systems, and lighting systems, are not capitalized along with other general fixed assets. No depreciation has been provided on general fixed assets. Ail fixed assets are valued at historical cost or estimated historical cost if actual historical cost is not available. Donated fixed assets are valued at their estimated fair value on the date donated. Long-term liabilities expected to be financed from governmental funds are accounted for in the General Long-Term Debt Account Group, not in the governmental funds. The single exception to this general rule is for special assessment bonds, which are accounted for in Special Assessment Funds. The two account groups are not "funds." They are concerned only with the measurement of financial position. They are not involved with measurement of results of operations. Because of their spending measurement focus, expenditure recognition for governmental fund types is limited to exclude amounts represented by noncurrent liabilities. Since they do not affect net current assets, such long-term amounts are not recognized as governmental fund type expenditures or fund liabilities. They are instead reported as liabilities in the General Long-Term Debt Account Group. Ail Proprietary Funds and Pension Trust Funds are accounted for on a cost of services or "capital maintenance" measurement focus. This means that all assets and all liabilities (whether current or noncurrent) associated with their activity are included on their balance sheets. Their reported fund equity (net total assets) is segregated into retained earnings components. Proprietary fund type operating statements present increases (revenues) and decreases (expenses) in net total assets. 15 VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1985 S,~mary of Significant Accounting Policies (Cont.) Assets, Liabilities, and Fund Equity (Cont.) Fixed Assets and Long-Term Liabilities (Cont.) Depreciation of all exhaustible fixed assets used by proprietary funds is charged as an expense against their operations. Accumulated depreciation is reported on proprietary fund balance sheets. Depreciation has been provided over the estimated useful lives using the straight line method. The estimated useful lives are as follows: System and Water Mains 50 years Buildings 25-50 years Improvements 10-20 years Equipment 3-10 years Revenues, Expenditures, and Expenses Property Tax Revenue Recognition 1985 property taxes attach as an enforceable lien on January 1, 1985. They are levied the subsequent September (by passage of a Tax Levy Ordinance). Tax bills are prepared by the County and issued on or about February 1, 1986 and August 1, 1986, and are payable in two installments, on or about March 1, 1986 and on or about September 1, 1986. The County collects such taxes and remits them periodically. Property tax revenues are recognized when they become both measurable and available, in accordance with NCGA Interpretation 3. The 1985 tax levy has been treated as deferred revenue since it is intended to finance the subsequent year's expenditures. Current year's operating statements recognize 1984 tax levy revenues which finance the current year's expenditures. Fiduciary (Pension Trust) Funds recognize 1985 tax levy revenues. Property taxes receivable which are delinquent more than one year have been written off; subsequent collections of such taxes are reflected as "prior years' taxes" revenue in the period received. VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1985 1. Summary of Significant Accounting Policies (Cont.) F. Revenues, Expenditures, and Expenses (Cont.) Accumulated Unpaid Compensated Absences Village employees are granted vacation pay and sick leave in varying amounts. The Village has calculated the following amounts with respect to accrued vacation pay and sick leave at December 31, 1985: Vacation Pay (all current) $159,990 Sick Leave $159~990 Accumulated unpaid compensated absences are accrued when incurred in proprietary funds (using the accrual basis of accounting). Such amounts (current portion) are accrued in governmental funds (using the modified accrual basis of accounting). G. Financial Reporting Comparative Data Comparative total data for the prior year have been presented in the accompanying financial statements in order to provide an understanding of changes in the Village's financial position and operations. However, com- parative (i.e., presentation of prior year totals by fund type) data have not been presented in each of the statements since their inclusion would make the statements unduly complex and difficult to read. VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31~ 1985 Summary of Significant Accounting Policies (Cont.) G. Financial Reporting (Cont.) Total Columns on Combined Statements - Overview Total columns on the Combined Statements Overview are captioned "Memorandum Only" to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position, results of operations, or changes in financial position in conformity with generally accepted accounting principles. Neither is such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data. Authoritative Sources - Financial Reporting The financial statements are presented in accordance with generally accepted accounting principles applicable to state and local governmental units. These basic principles have been promulgated by the National Council on Governmental Accounting, and are detailed in their publications entitled "Governmental Accounting and Financial Reporting Principles - NCGA Statement 1", and subsequent NCGA Statements and Interpretations. The Governmental Accounting Standards Board, successor to the NCGA, has issued GASB Statement I, which establishes the authoritative status of NCGA Pronouncements and the AICPA Industry Audit Guide, and has issued subsequent authoritative pronouacements. 2o VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1985 3. Detail Notes on All Funds and Account Groups (Cont.) B. Liabilities 1. Retirement Fund Commitments a. Illinois Municipal Retirement Fund 1) The Village is a participating member of the Illinois Municipal Retirement Fund (IMRF) which covers all of its employees who: a.) occupy a job normally requiring 1,000 hours or more per year; b.) are paid on a regular payroll from Village funds; c.) were under age seventy when first entering employment; and d.) are not covered by another state created retirement system for the same service. 2) The Illinois Municipal Retirement Fund's (Chicago) actuary estimated that as of December 31, 1984 (the date of the latest computation), the present value of currently accrued retirement obligations of the Village was $3,526,358. The Village had accumulated assets of $586,866 on the same date. Therefore, the balance of $2,939,492 remains to be financed by future contributions payable by the municipality on behalf of its present employees. The normal cost portion of the Village's contribution rate is expected to provide $657,692 of this amount and the prior service portion of the rate is expected to provide $2,281,800. The latter amount is considered to be unfunded at this time; it is sometimes referred to as the "actuarial deficiency". As required by Section 7-172, Chapter 108-1/2, Illinois Revised Statutes, contribution rates are certified by the Fund actuary, sufficient to fixed at levels, meet the entire cost of benefit payments ultimately to be made. Actual contributions this year totaled $275,800. This is a statewide plan, administered by IMRF. The Village has no further liability to this plan. 21 VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1985 Detail Notes on All Funds and Account Groups (Cont. B. Liabilities (Cont.) 1. Retirement Fund Commitments (Cont.) b. Police Pension Fund 1) Chapter 108-1/2, Sections 3-125 and 127 of the Illinois Revised Statutes, provide that municipalities shall establish and maintain a reserve fund of not less than $10,000 for each policeman and each beneficiary; provided that the accumulated reserve shall not exceed the estimated total actuarial requirements of the Fund. In municipalities having less than the actuarial requirements of the Fund, the Board of Trustees of the Fund shall designate the proportionate amount needed annually to insure the accumulation of such actuarial reserve over a 40 year period ending in 2020. The total actuarial requirements at December 31, 1984 (the date of the latest computation) amonnted to $8,398,321, as determined by the Illinois Department of Insurance. Net present assets $4,789,889 Unfunded accrued liability 3,608,432 $8,398,321 Actnal contributions this year totaled $559,960. This is a single-employer plan administered by the Village. 2) Changes in Fund Balance Reserved for Employee Retirement Total Unreserved System Balances - January 1, 1985 $4,789,893 $(4,448,897) $ 9,238,790 Additions Employer Contributions (Taxes) 559,960 559,960 Employee Contributions 149,009 149,009 Interest 465,639 465,639 Other 17,376 17,376 Total Balances and Additions $5,981,877 $(4,448,897) $10,430,774 VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1985 3. Detail Notes on Ail Funds and Account Groups (Cont.) B. Liabilities (Cont.) 1. Retirement Fund Commitments (Cont.) b. Police Pension Fund (Cont.) 2) Changes in Fund Balance (Cont.) Reserved for Employee Retirement Total Unreserved System Actuarial Adjustments (Increase) Decrease in Unfunded Accrued Liability 840,465 (840,465) Total Revised Balances $5,981,877 $(3,608,432) $ 9,590,309 Deductions Benefit Payments and Re funds $ 257,364 $ 257,364 Miscellaneous 1,083 1~083 Total Deductions $ 258,447 - $ 258,447 Balances - December 31, 1985 $5,723,430 $(3,608,432) $ 9,331,862 3) Tax Levy Requirements Amount necessary to provide the normal cost based on the annual payroll of active participants as of December 31, 1984. $201,241 Amount necessary to amortize the unfunded accrued liability of $3,608,432 as determined by the State of Illinois Depart- ment of Insurance over the remaining 36.0027 years as contemplated by Section 3-127 of the Illinois Pension Code. . 263,635 Total amount of tax levy necessary to arrive at the annual requirements of the Fund as required in Section 3-125 of the Illinois Pension Code. $464~876 VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1985 Detail Notes on All Funds and Account Groups (Cont.) B. Liabilities (Cont.) 1. Retirement Fund Commitments (Cont.) c. Firemen's Pension Fund 1) Chapter 108-1/2, Sections 4-118 and 120 of the Illinois Revised Statutes, provide that municipalities shall establish and maintain a reserve fund of not less than $1,000 for each 1,000 inhabitants; provided that the accumulated reserve shall not exceed the estimated total actuarial requirements of the Fund. In municipalities having less than the actuarial requirements of the Fund, the Board of Trustees of the Fund shall designate the proportionate amount needed annually to insure the accumulation of such actuarial reserve over a 40 year period ending in 2020. The actuarial requirements at December 31, 1984 (the date of the latest computation) amounted to $4,646,789 as determined by the Illinois Department of Insurance. Net present assets $3,524,611 Unfunded accrued liability 1,122,178 $4,646,789 Actual contributions this year totaled $305,144. This is a single-employer plan, administered by the Village. 2) Changes in Fund Balance Reserved For Employee Retirement Total Unreserved System Balances - January 1, 1985 $3,922,102 $(1,271,197) $5,193,299 Additions Employer Contributions (Taxes) 305,144 305,144 Employee Contributions 95,739 95,739 Interest 418,232 418,232 Other 33,461 33,461 Total Balances and Additions $4,774,678 $(1,271,197) $6,045,875 SrA m lrs ,mmm DF~FR 31, 198) 3. ~ta~[ ~tes m ~1 ~ ~ ~comt Groups (~nt.) B. ~ilities (~.) 5. ~Tem ~t m a. ~es ~ ~Tem ~bt ~1~ ~l~ces m F~d ~t J~ 1, ~er 31, ~tir~ By 1985 Iss~ces ~tir~ts 1985 ~neral ~l~ation ~nds m ~g~ ~ ~t~ District ~r ~ m ~ries of 1~8 ~bt ~ice $ 10,~ $ 5,~ $ 5,~ Police ~strati~ ~ild~ ~ Series of 1972 ~bt ~ice 570,~ 120,~ 450,~ L~br~ ~ ~r~es o~ 19~ ~bt ~mlce 3,1~,~ 3,1~,~ L~br~ ~nd Ser~es of 1985 ~,3~,~ $150,~ 8225,~ ~,~5,~ S~cia[ ~ice ~ea m ~1 ~ ~ries of 19~ ~bt ~ice $ 42,~ $ 7,~ $ 35,~ ~ ~d ~ries of 1981 ~t ~ice 32,829 1,776 31,053 ~3 ~ ~ries of 1982 ~bt ~ice 21,5~ 1,1~ 20,431 m ~ ~d ~ries o~ 1982 ~bt ~ice ~,133 6,~7 77,726 m ~5 ~ series of 1985 ~bt ~ice $ ~,~ ~'~ $ ~,~ $ 16,351 $ 212,210 m 1~,561 ~era~ ~ligat ion ~r~rate Put.se ~ Wate~r~ ~d m ~ries of 1976 ~r~t $ 50,~ $ 50,~0 m ~rate ~r~se ~ Wate~r~ ~ries of 1977 ~r~st 3,5~,~ 2~,~ $3,3~,~ m ~r~rate P~se ~d ~te~r~ ~ries of 1979 ~r~st 4,875 ~ 2~,~ 4,675,~ $8,475,~ ~50,~ $8,025,~ m 27 VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1985 Detail Notes on All Funds and Account Groups (Cont.) B. Liabilities (Cont.) 5. Long-Term Debt (Cont.) b. Debt Service Requirements to Maturity ANNUAL PRINCIPAL AND INTEREST REQUIREMENTS General Obligation Fiscal Year General Special Bonds Carried Ending Obligation Service as Enterprise December 31 Bonds Area Bonds Fund Liabilities Total 1986 $ 834 882 $ 36,517 $ 901 438 $ 1,772,837 1987 795 562 35,817 900 363 1,731,742 1988 761 362 35,396 898 i38 1,694,896 1989 775 875 34,976 918 813 1,729,664 1990 639 500 34,554 886 188 1,560,242 1991 457 600 27,345 905 375 1,390,320 1992 433 125 27,344 897 125 1,357,594 1993 408 100 27,345 887 250 1,322,695 13,508 876 125 1,272,295 1994 382 662 1995 356 538 13,507 888 025 1,258,070 1996 329 725 9,753 897 025 1,236,503 1997 302 500 5,998 902 725 1,211,223 1998 5,998 505 500 511,498 1999 5,998 503 500 509,498 2000 5,998 5,998 2001 2,998 2,998 $6,477,431 $323,052 $11,767,590 $18,568,073 VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1985 3. Detail Notes on All Funds and Account Groups (Cont.) B. Liabilities (Cont.) 5. Long-Term Debt (Cont.) c. Legal Debt Margin The Village is a home rule municipality. Article VII, Section 6(k) of the 1970 Illinois Constitution governs computation of the legal debt margin. "The General Assembly may limit by law the amount and require referendum approval of debt to be incurred by home rule municipalities, payable from ad valorem property tax receipts, only in excess of the following percentages of the assessed value of its taxable property ...(2) if its population is more than 25,000 and less than 500,000 an aggregate of one percent: ...indebtedness which is outstanding on the effective date (July 1, 1971) of this constitution or which is thereafter approved by referendum.., shall not be included in the foregoing percentage amounts." To date the General Assembly has set no limits for home rule municipalities. d. In-Substance Defeasance of Bonds Waterworks and Sewerage Fund In fiscal year ended December 31, 1984, $240,000 from the Water Fund East Bond Reserve Account was used for the purpose of defeasing the Waterworks and Sewerage Revenue Bond issue of 1964. 1. Funds have been placed in an irrevocable trust with a reputable trustee for the primary purpose of satisfying old debt at a specified future date. An escrow agreement has been entered into with the Exchange National Bank of Chicago, Illinois. 29 VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1985 Detail Notes on All Funds and Account Groups (Cont.) B. Liabilities (Cont.) 5. Long-Term Debt (Cont.) d. Defeasance of Bonds (Cont.) Waterworks and Sewerage Fund (Cont.) 2. The funds have been invested ~n direct U.S. Treasury obligations with maturities that approximate the Debt Service Requirements of the original issue. U.S. Government securities in the amount of $205,000 at various interest rates and dates of maturity ranging from 4/30/85 to 3/31/88 have been purchased for the escrow. 3. The proceeds in escrow are not subject to lien for any purpose other than in connection with the defeasance transaction. Since the requirements which satisfy defeasance have been met, the financial statements reflect satisfaction of the original liability through the irrevocable transfer to an escrow agent of an amount computed to be adequate to satisfy future Debt Service Requirements of the Issue. Schedule of Future Requirements - Waterworks and Sewerage Revenue Bond Issue to be paid from Escrow: Year Bond Number Principal 1986 185-196 $ 60,000 1987 197-208 60,000 1988 209-220 60,000 $180,000 VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1985 3. Detail Notes on All Funds and Account Groups (Cont.) C. Interfund Receivables and Payables Due Due From To General Corporate Public Library $ 11,592 Illinois Municipal Retirement 4,507 Debt Service 5,231 Capital Projects $ 41,702 Waterworks and Sewerage - East 75,000 Escrow 141,420 Police Pension 33,141 Firemen's Pension 4,428 Total General $ 41,702 $275,319 Special Revenue Library Corporate $ 11,592 Illinois Municipal Retirement Corporate 4,507 Total Special Revenue $ 16,099 Debt Service Debt Service Corporate $ 5,231 Waterworks and Sewerage - West 617,896 Waterworks and Sewerage - East $ 48,968 Escrow 225,000 Total Debt Service $623,127 $273,968 Capital Projects Capital Equipment Replacement Escrow $200,000 Capital Projects Corporate 41,702 Total Capital Projects $241,702 31 VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1985 Detail Notes on All Funds and Account Groups (Cont.) C. Interfund Receivables and Payables (Cont.) Due Due From To Enterprise Waterworks and Sewerage - East Debt Service $ 48,968 Corporate 75,000 Waterworks and Sewerage - West 75,000 Escrow $ 185~000 $ 198,968 $ 185,000 Waterworks and Sewerage - West Waterworks and Sewerage - East $ 75,000 Debt Service 617~896 $ 692,896 Total Enterprise $ 198,968 $ 877;896 Trust and Agency Escrow Corporate $ 141,420 Debt Service 225,000 Capital Equipment Replacement 200,000 Waterworks and Sewerage - East 185,000 $ 751~420 Police Pension Corporate $ 33~141 Firemen's Pension Corporate $ 4,428 Total Trust and Agency $ 788,989 $1~668,885 $1,668,885 VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1985 3. Detail Notes on All Funds and Account Groups (Cont.) D. Fund Equity 1. Reservation of Fund Balance Reserves are used to segregate portions of fund balances which are either legally restricted for specific purposes or not "available spendable resources". 2. Unreserved Fund Balance - Designated Designations represent portions of Unreserved Fund Balance segregated to indicate tentative plans for financial resource utilization in a future period. 3. Prior Period Adjustments General Fund Corporate Fund To correct an error from a przor period. Personal Property Replacement Tax Receivable was overstated. $(34,235) Special Revenue Funds Library Fund To correct an error from a prior period. Personal Property Replacement Tax Receivable was overstated. $(24,808) Illinois Municipal Retirement Fund To correct an error from a prior period. Personal Property Replacement Tax Receivable was overstated. (9,322) Motor Fuel Tax To correct an error from a prior period. Accounts Receivable was overstated. (30~000) Total Special Revenue Funds $(64,130) Debt Service Fund To correct an error from a prior period. Personal Property Replacement Tax Receivable was overstated. $(12~070) 33 VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1985 Segment Information for Certain Individual Enterprise Funds The Village maintains three Enterprise Funds, two of which provide waterworks and sewerage, and one providing parking services. Segment information for the year ended December 31, 1985 is as follows: Waterworks Waterworks Commuter and Sewerage and Sewerage Parking Fund - East Fund - West Lot Fund Total Operating Revenues $1,995,056 $2,207,923 $ 71,260 $4,274,239 Depreciation, Depletion, and Amortization Expense 150,925 226,500 5,430 382,855 Operating Income 257,999 949,060 20,678 1,227,737 Operating Grants, Entitle- ments, and Shared Revenues Operating Transfers In Out 433,157 71,200 - 504,357 Tax Revenues Net Income (Loss) (171,912) 375,371 43,452 246,911 Current Capital Contributions and Transfers Contributions 152,785 - - 152,785 Transfers (24,000) - - (24,000) Plant, Property and Equipment Additions 167,075 9,873 2,820 179,768 Deletions 17,050 - - 17,050 Total Assets 4,254,528 10,462,562 343,695 15,060,785 Net Working Capital (550,078) 528,335 332,674 310,931 Bonds and Other Long-Term Liabilities Payable from Operating Revenues 8,025,000 - 8,025,000 Payable from Other Source Total Equity $3,225,026 $1,699,900 $343,595 $5,268,521 VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31~ 1985 5. Related Entities A. Joint Ventures The following is a joint venture of the Village of Glenview as defined in National Council on Governmental Accounting (NCGA) Statement 7, "Financial Reporting for Component Units within the Governmental Reporting Entity", paragraphs 27 through 29, adopted on January 12, 1984. Intergovernmental Personnel Benefit Cooperative (IPBC) I. Description of Joint Venture The Intergovernmental Personnel Benefit Cooperative is a joint venture established by certain units of local government in Illinois to administer some or all of the personnel benefit programs offered by these members to their officers and employees and to the officers and employees of certain other governmental, quasigovernmental, and nonprofit public service entities. Management consists of a Board of Directors comprised of one representative from each member. In addition, there are two officers, a Benefit Administrator and a Treasurer. The Village of Glenview does not exercise any control over the activities of the Cooperative beyond its representation on the Board of Directors. 2. Summary Financial Information of Joint Venture The latest available financial statements of the Cooperative, dated June 30, 1985, show the following: Total Assets $2,734,889 Total Liabilities $2,734,889 6. Significant Contingencies A. Litigation There are no pending lawsuits in which the Village is involved. The Village Attorney estimated that the potential claims against the Village not covered by insurance resulting from any litigation would not materially affect the financial statements of the Village. 35 VILLAGE OF GLENVIEW~ ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1985 Significant Contingencies (Cont.) B. Contingent Liabilities 1. The Village participates in a number of federally assisted grant programs, principal of which are the General Revenue Sharing, Comprehensive Employment Training Act, and Local Public Works programs. These programs are subject to program compliance audits by the grantors or their representatives. The audits of all these programs for or including the year ended December 31, 1985 have not yet been conducted. Accordingly, the Village's compliance with applicable grant require- ments will be established at some future date. The amount, if any, of expenditures which may be disallowed by the granting agencies cannot be determined at this time although the Village expects such amounts, if any, to be immaterial. 2. Ann Pagh vs. Village of Glenview The Village, as part of the settlement, has been ordered to transfer $110,359 into a special escrow account to be held and maintained by the Village for a period of two years. These monies are being retained in the Escrow Account for a period of two years to allow owners of special assessment bonds, upon surrendering their bonds, to be paid principal and interest thereon to August 16, 1976. The settlement further provides that at the end of a two year period, commencing May 20, 1985, the Village is authorized to retransfer to its General Fund all unclaimed amounts and no payment shall be made on said Special Assessment Bonds subsequent to the retransfer. 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 I GENERAL FUND Fund Description 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. 36 VILLAGE OF GLENVIEW, ILLINOIS CORPORATE FUND BALANCE SHEET DECEMBER 31, 1985 1985 1984 ASSETS Cash and Investments $ 705,919 $ 523,286 Receivables Property Taxes 1,037,918 933,695 Sales Tax 679,700 498,004 Income Tax 63,853 61,209 Utility Tax 192,957 176,491 Replacement Taxes 872 38,686 Accounts 60,589 50,778 Other 28,307 12,023 Deposits 110,359 Due from Other Funds 41,702 504,455 Total Assets $2,922,176 $2,798,627 LIABILITIES AND FUND BALANCE Liabilities Accounts Payable $ 38,498 $ 33,256 Compensated Absences Payable 153,266 119,472 Due to Other Funds 275,319 306,346 Deferred Revenues 1,037,918 933,695 Refundable Deposits 25,729 28,304 Claims Payable 100,000 Total Liabilities $1,630,730 ~1,421,073 Fund Balance 1,291,446 1~377~554 Total Liabilities and Fund Balance $2,922,176 $2~798,627 See accompanying Notes to the Financial Statements. GORPORATE FU~ STAT~W~qT OF REVENUES, EXPE~ITURES, A~ CHANTS IN FU~ BALANCE - BUDGET A~ ACIUAL FOR THE YEAR ENDED DECEMBER 31, 1985 1985 1984 B~d~et Actual Actual Revenues T~xes $6,455,372 $6,377,762 $5,852,673 Licenses and Permits 741,400 852,457 604,767 Iht ergovermmnt al 59,200 85,563 36,147 (barges for Services 420,971 353,971 388,071 Fines and Forfeits 262,000 277,379 220,653 Miscallaneous 229,100 198,310 192,732 Total Revenues $8,168,043 $8,145,442 $7,295,043 Expenditures General Goverrment $1,816,928 $1,818,753 $1,719,606 Public Safety 4,508,916 4,436,638 4,147,863 Highways and St reets 2,109,779 1,883,814 1,756,129 Total Expenditures $8,435,623 $8~139,205 $7,623,598 Excess (Deficiency) of Revenues over Expenditures before Other Financing Sources (Uses) $ (267,580) $ 6,237 $ (328,555) Other Financing Sources (Uses) Operating Transfers In (Oat) Debt Service Fund $ (2,940) Public ~brks Garage F~nd $ (75,000) $ (75,000) (150,000) Capital Projects Fond (80,000) (80,000) (196,000) Escrow Deposit F~nd $ 103,000 96,890 104,089 $ (52,000) $ (5~,110) Excess (Deficiency) of Revenues and Other Sources over Empenditures and Other Uses $ (319,580) $ (51,873) $ (573~406) Fund Balarme .J~uary I $1,377,55~ $1,950,960 Prior Period gdjuetammt (3~235) Mjusted Balence $1~343,319 $1,950,960 Deco.her 31 $1,291/-g46 $1,377,554 See a¢co~r~anying iX~tes to the Financial Stat~raents. 38 VILLAGE OF GLENVIEW, ILLINOIS CORPORATE FUND STATEMENT OF REVENUES - BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1985 1985 1984 Budget Actual Actual Taxes Property Taxes - Current $1,028,252 $ 925,763 $ 933,038 Property Taxes - Prior 16,620 21,528 Replacement Taxes 44,630 9,657 34,265 Sales Tax 2,313,300 2,462,183 1,974,783 Utility Tax 2,056,900 1,999,838 1,991,104 Illinois Income Tax 819,600 723,008 766,168 Road and Bridge 80,000 76,223 88,421 Franchise Taxes 112,690 162,816 43,366 Road and Bridge - Prior 1,654 $6,455,372 $6,377,762 $5,852,673 Licenses and Permits Motor Vehicle $ 422,000 $ 401,776 $ 304,638 Business 79,000 83,040 69,140 Liquor 57,000 58,348 48,903 Dog 4,800 3,347 4,370 Cat 600 308 416 Heating and Air Conditioning 700 805 578 Buildings 52,000 70,413 58,738 Electrical Inspection 22,900 25,532 24,234 Plumbing and Sewer 13,000 15,657 13,187 Plan Review and Elevator Inspection 28,600 25,781 23,437 Driveway 800 750 600 Engineering i0,000 113,875 9,024 Unclassified Public Works Service 30,000 25,068 27,495 Other Current Service Charges 20,000 27,757 20,007 $ 741,400 $ 852,457 $ 604,767 Intergovernmental $ 59,200 $ 85,563 $ 36,147 Charges for Services Administration $ 420,971 $ 353,971 $ 388,071 Fines and Forfeits $ 262,000 $ 277,379 $ 220,653 Miscellaneous Interest $ 90,100 $ 76,162 $ 88,648 Insurance Refunds 57,000 60,214 42,157 Damage to Village Property 12,000 6,661 12,147 Other 70,000 55,273 49,780 $ 229,100 $ 198,310 $ 192,732 Total Revenues $8,168,043 $8,145,442 $7,295,043 VILLAGE OF GLENVIEW, ILLINOIS CORPORATE FUND STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1985 1985 1984 Budget Actual Actual General Government Board of Trustees $ 9,890 $ 12,389 $ 9,667 Special Board 67,243 33,520 41,617 Village Clerk's Office 9,495 8,354 9,387 Legal 272,728 325,612 316,212 Emergency Service Disaster Agency 5,150 20,249 9 Village Manager's Office 232,355 255,411 232,200 Finance 372,078 357,057 376,403 Municipal Building and Grounds 133,502 97,557 96,636 Personnel 714,487 708,60~ 637,475 $1,816,928 $1,818,753 $1,719,606 Public Safety Police Department $2,841,834 $2,789,573 $2,602,553 Fire Department 1,608,995 1,591,461 1,524,690 Printing and General Services 58,087 55,604 20,620 $4,508,916 $4,436,638 $4,147,863 Highways and Streets Development and Public Services Administration $ 143,990 $ 119,741 $ 127,348 Planning and Zoning 61,765 72,255 45,308 Engineering 223,503 206,450 i83,411 Public Works - General Street Maintenance 81,669 68,247 80,019 Public Works - Special Projects 155,000 3,881 Public Works - Overhead 521,637 551,236 530,552 Public Works - Traffic 179,818 159,445 169,850 Public Works - Storm Drains 95,266 61,176 74,114 Public Works - Snow and Ice Control 167,205 165,481 116,650 Public Works - Trees 122,379 113,024 102,377 Public Works - Grounds 42,036 53,683 40,522 Building Inspection 248,488 248,848 230,332 General Health 67,023 64,228 51,765 Total Expenditures $2,109,779 $1,883,814 $1,756,129 VILLAGE OF GLENVIEW, ILLINOIS CORPORATE FUND STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL (CONT.) FOR THE YEAR ENDED DECEMBER 31, 1985 Budget Actual General Government Board of Trustees Regular Salaries $ 3,000 $ 2,950 Contractual Services 1,215 1,130 Travel Expense 4,175 6,553 Materials and Supplies 1,450 1,731 Other Operational Expense 50 25 $ 9,890 $ 12,389 Special Board Temporary Salaries $ 960 $ 560 Contractual Services 60,850 31,625 Dues and Subscriptions 183 197 Travel Expense 50 Materials and Supplies 5,100 1,138 Contingencies 100 $ 67,243 $ 33,520 Village Clerk Regular Salaries $ 900 $ 900 Temporary Salaries 400 240 Dues, Subscriptions and Memberships 7,970 7,214 Maintenance of Equipment 50 Travel Expense 50 Office Supplies 125 $ 9,495 $ 8,354 Legal Regular Salaries $ 3,893 $ 4,006 Contractual and Professional Services 70,950 64,764 Insurance and Bonding 190,000 254,502 Dues, Subscriptions and Memberships 350 255 Maintenance of Equipment 85 Travel Expense 1,700 812 Materials and Supplies 750 1,273 Other 5,000 $272,728 $325,612 Emergency Service Disaster Agency Water Emergency $ 19,303 Postage $ 2,850 Maintenance of Equipment 1,100 946 Office Supplies 100 Books, Pamphlets, and Materials 100 Contingencies 1,000 $ 5,150 $ 20,249 VILLAGE OF GLENVIEW, ILLINOIS CORPORATE FUND STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL (CONT.) FOR THE YEAR ENDED DECEMBER 31, 1985 Budget Actual General Government (Cont.) Village bianager Regular Salaries $176,941 $208,589 Temporary Salaries 12,285 8,316 Holiday Pay 600 300 Longevity Pay 950 950 Printing, Binding and Publication 13,100 11,429 Postage 12,740 11,391 Dues, Subscriptions and Memberships 1,675 1,564 Maintenance of Equipment 150 65 Travel Expense 5,164 5,458 Training Expense 1,250 376 Books, Pamphlets and Materials 300 390 Equipment Replacement 3,000 3,000 Equipment Repairs 4,200 3,583 $232,355 $255,411 Finance Regular Salaries $229,372 $229,355 Overtime Salaries 1,000 3,915 Temporary Salaries 19,278 14,387 Longevity Pay 2,850 2,617 Contractual Professional Services 37,975 32,105 Printing, Binding and Publication 10,000 3,533 Postage 5,500 3,590 Dues, Subscriptions and Membership 1,413 1,453 Maintenance of Equipment 20,729 21,216 Rentals 20,223 19,305 Travel Expense 1,438 1,616 Training 600 675 Office Supplies 14,000 15,703 and Materials 400 112 Books, Pamphlets Computer Supplies 6,200 6,667 Other Operating Expense 200 Machinery and Equipment 900 808 $372,078 $357,057 42 VILLAGE OF GLENVIEW, ILLINOIS CORPORATE FUND OF EXPENDITURES - BUDGET AND ACTUAL (CONT.) STATEMENT FOR THE YEAR ENDED DECEMBER 31, 1985 Budget Actual General Government (Cont.) Municipal Building and Grounds Regular Salaries $ 22,092 $ 22,068 Overtime Salaries 5OO Temporary Salaries 6,550 4,771 Longevity Pay 450 450 Heating and Lighting 14,850 8,392 Postage 15,000 9,404 Telephone 25,000 19,127 Maintenance of Equipment 16,590 13,515 Maintenance of Buildings 1,950 1,279 Rentals 8,520 8,655 Uniform Allowance 300 146 Cleaning and Household Supplies 1,900 2,845 Maintenance Materials - Buildings 1,800 1,707 Small Tools and Equipment 400 151 Employee Welfare 3,400 1,642 Equipment Repairs 200 Improvements Other than Buildings 14,000 3,405 $ 133,502 $ 97,557 Personnel Contractual Professional Services $ 7,850 $ 5,581 Printing, Binding and Publications 2,300 606 Dues, Subscriptions and Memberships 650 634 Insurance and Bonding 672,837 678,381 Travel 800 530 Training Expense 25,500 18,472 Books, Pamphlets and Materials 100 95 Employee Welfare 4,400 4,305 Contingencies 50 $ 714,487 $ 708,604 Total General Government $1,816,928 $1,818,753 VILLAGE OF GLENVIEW, ILLINOIS CORPORATE FUND STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL (CONT.) FOR THE YEAR ENDED DECEMBER 31, 1985 Budget Actual Public Safety Police Department Regular Salaries $2,030,816 $2,020,929 Overtime Salaries 42,100 50,471 Overtime Court Time 43,680 39,790 Overtime Training 8,320 6,063 Temporary Salaries 123,330 102,294 Holiday Pay 80,000 74,078 Longevity Fay 16,850 16,500 Pay Differential - Director 1,200 1,200 Contractual and Professional Services 7,500 9,005 Printing, Binding and Publication 2,800 2,771 Heating 7,260 5,548 Postage 3,750 2,343 Telephone 22,000 24,118 Teletype 7,600 7,299 Dues and Subscriptions 1,250 1,911 Maintenance of Equipment 43,050 29,864 Maintenance of Buildings 2,700 2,459 Rentals 9,360 8,112 Travel Expenses 2,750 1,928 Training 29,500 30,610 Uniform Allowance 22,970 25,107 Office Supplies 3,200 3,212 Books, Pamphlets and Materials 3,500 3,620 Cleaning and Household Supplies 2,000 1,402 Maintenance Materials - Buildings 3,600 3,195 Operating Materials and Supplies 16,950 16,237 Computer Supplies 800 495 Equipment Replacement 99,281 99,281 Equipment Repairs 143,000 139,939 Machinery and Equipment 42,971 42,546 Other 17,746 17,246 $2,841,834 $2,789,573 44 VILLAGE OF GLENVIEW, ILLINOIS CORPORATE FUND STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL (CONT.) FOR THE YEAR ENDED DECEMBER 31, 1985 Budge~ Actual Public Safety (Cont.) Fire Department Regular Salaries $1,287,991 $1,264,368 Emergency Overtime Salaries 53,600 67,990 Longevity Pay 18,600 17,725 Contractual Professional Services 66,976 62,015 Printing and Publications 150 8 Heating 4,500 3,439 Postage 550 351 Telephone 10,080 9,008 Dues, Subscriptions and Memberships 604 641 Maintenance of Equipment 18,159 11,183 Maintenance of Buildings 4,850 3,580 Travel Expense 1,905 306 Training 4,975 2,670 Uniform Allowances 10,775 10,775 Fire Prevention Pamphlets 2,475 1,594 Motor Vehicle Supplies 1,200 1,881 Cleaning Supplies 2,600 2,317 Maintenance Materials - Equipment 250 Maintenance Materials - Buildings 5,150 3,936 Small Tools and Equipment 1,725 810 Operating Materials and Supplies 15,200 10,793 Other Operating Expenses 12,117 12,117 Equipment Replacement 53,633 53,632 Equipment Repairs 25,000 42,008 Machinery and Equipment 2,480 5,551 Furniture and Fixtures 3,450 2,763 $1,608,995 $1,591,461 Printing - General Services Printing and Binding $ 2,000 $ 2,631 Maintenance of Eqnipment 1,275 Office Supplies 13,000 10,696 Operating Supplies 2,700 3,750 Small Tools and Equipment 75 Machinery and Equipment 39,037 38,527 $ 58,087 $ 55,604 $4,508,916 $4,436,638 Total Public Safety VILLAGE OF GLENVIEW, ILLINOIS CORPORATE FUND STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL (CONT.) FOR THE YEAR ENDED DECEMBER 31, 1985 Budget Actual Highways and Streets Development and Public Services Administration Regular Salaries $121,420 $103,237 Overtime Salaries 400 401 Temporary Salaries 1,000 Longevity Pay 450 450 Contractual and Professional Services 800 1,016 Printing, Binding and Publication 200 51 Dues, Subscriptions and Memberships 370 322 Maintenance of Equipment 1,330 1,109 Travel Expense 1,050 995 Training 1,200 661 Materials and Supplies 2,070 1,149 Equipment Replacement 1,500 1,500 Equipment Repairs 1,500 1,022 Machinery and Equipment 10,700 7,828 $143,990 $119,741 Planning and Zoning Regular Salaries $ 32,760 $ 37,316 Temporary Salaries 800 1,360 Contractual and Professional Services 20,000 28,521 Printing, Binding and Publication 3,700 2,164 Dues, Subscriptions and Memberships 2,605 2,557 Travel Expense 900 68 Training 600 Operational Supplies 400 269 $ 61,765 $ 72,255 Engineering Regular Salaries $161,561 $163,542 Overtime Salaries 500 1,829 Temporary Salaries 24,862 13,529 Longevity Pay 850 850 Contractual Professional Services 10,000 3,924 Printing, Binding and Publications 150 59 Dues, Subscriptions and Memberships 45 Maintenance of Equipment 575 309 Microfilming 1,600 2,048 Travel Expense 1,100 709 46 VILLAGE OF GLENVIEW, ILLINOIS CORPORATE FUND STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL (CONT.) FOR THE YEAR ENDED DECEMBER 31, 1985 Budget Actual Highways and Streets (Cont.) Development and Public Services (Cont.) Engineering (Cont.) Training $ 1,360 $ 320 Uniform Allowance 400 300 Books, Pamphlets and Materials 100 9 Operational Materials 1,200 1,268 Equipment Replacement 7,500 7,500 Equipment Repairs 8,000 6,755 Machinery and Equipment 3,700 3,499 $223,503 $206,450 Public Works - General Street Maintenance Regular Salaries $ 51,985 $ 41,296 Overtime Salaries 2,284 4,913 Temporary Salaries 5,500 5,347 Maintenance Materials - Improvements 16,000 15,110 Small Tools and Equipment 900 380 Operating Materials and Supplies 5,000 1,201 $ 81,669 $ 68,247 Public Works - Overhead Regular Salaries $195,318 $214,291 Overtime Salaries 104 271 Temporary Salaries 16,100 25,442 Longevity Pay 7,150 7,150 Heat 4,100 11,379 Telephone 6,i50 3,043 Maintenance of Equipment 130 664 Building Improvements 5,000 4,578 Maintenance of Rentals 8,600 10,542 Travel Expense 100 172 Training 1,500 1,757 Dues, Subscriptions and Memberships 40 211 Uniform Allowance 6,000 5,426 Books, Pamphlets and Materials 100 337 Cleaning Supplies 2,000 2,745 Small Tools and Equipment 1,000 1,433 Employee Welfare 2,200 3,071 112,445 112,445 Equipment Replacement Equipment Repairs 109,400 146,279 Machinery and Equipment 44,200 $521,637 $551,236 VILLAGE OF GLENVIEW, ILLINOIS CORPORATE FUND STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL (CONT.) FOR THE YEAR ENDED DECEMBER 31, 1985 Budget Actual Highways and Streets (Cont.) Development and Public Services (Cont.) Public Works - Traffic Regular Salaries $ 34,310 $ 31,398 Overtime Salaries 1,038 5,254 Temporary Salaries 2,000 499 Power and Lights 79,000 76,384 Maintenance of Equipment 39,000 28,102 Maintenance of Buildings 10,500 8,333 Rentals 400 Sign Supplies 10,000 8,713 Small Tools and Equipment 200 11 Operating Materials and Supplies 850 751 Other 2,520 $179,818 $159,445 Public Works - Storm Drains Regular Salaries $ 71,313 $ 47,941 Overtime Salaries 4,153 474 Temporary Salaries 3,250 4,766 Maintenance of Buildings 3,000 Maintenance Materials - Equipment 2,500 1,668 Maintenance Materials - Buildings 5,500 1,881 Small Tools and Equipment 150 381 Operating Materials and Supplies 5,400 4,065 $ 95,266 $ 61,176 Public Works - Snow and Ice Control Regular Salaries $ 64,98i $ 67,626 Overtime Salaries 24,919 20,544 Temporary Salaries 1,500 2,238 Contractual Professional Services 525 525 Rentals 2,500 Maintenance Materials - Equipment 7,500 9,279 Operating Materals and Supplies 40,680 43,904 Machinery and Equipment 24,600 21,365 $167,205 $165,481 48 VILLAGE OF GLENVIEW, ILLINOIS CORPORATE FUND STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL (CONT.) FOR THE YEAR ENDED DECEMBER 31, 1985 Budget Actual Highways and Streets (Cont.) Development and Public Services (Cont.) Public Works - Trees Regular Salaries $ 73,818 $ 74,782 Overtime Salaries 4,361 2,394 Temporary Salaries 8,500 10,271 Contractual Professional Services 1,500 360 Dues, Subscriptions and Membership 100 37 Maintenance of Equipment 500 895 Maintenance of Buildings 28,500 19,086 Books, Pamphlets and Materials 50 79 Maintenance Materials - Equipment 450 657 Small Tools and Equipment 900 1,088 Operating Materials and Supplies 3,000 2,747 Machinery and Equipment 700 628 $122,379 $113,024 Public Works - Grounds $ 34,277 $ 45,893 Regular Salaries Overtime Salaries 934 2,292 Temporary Salaries 3,000 1,559 Maintenance of Buildings 1,500 635 Maintenance Materials - Equipment 225 242 Small Tools and Equipment 900 756 Operating Materials and Supplies 1,200 2,306 $ 42,036 $ 53,683 Building and Inspection Regular Salaries $208,188 $206,660 Overtime Salaries 500 6,736 Temporary Salaries 4,270 5,210 Longevity Pay 2,050 2,050 Contractual and Professional Services 6,645 5,516 Printing, Binding and Publication 800 Dues, Subscriptions and Memberships 580 654 Maintenance of Equipment 1,050 250 Microfilming 2,300 1,398 Travel 880 568 VILLAGE OF GLENVIEW, ILLINOIS CORPORATE FUND STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL (CONT.) FOR THE YEAR ENDED DECEMBER 31, 1985 Budget Actual Highways and Streets (Cont.) Development and Public Services (Cont. Building and Inspection (Cont.) Training $ 2,600 $ 1,318 Uniform Allowance 225 300 Books, Pamphlets and Materials 300 163 Operating Materials and Supplies 800 654 Other Operating Expenses 300 300 Equipment Replacement 6,000 6,000 Equipment Repairs 8,000 7,942 Machine~7y and Equipment 3,000 3,129 $ 248,488 $ 248,848 General Health Regular Salaries $ 55,164 $ 54,394 Overtime Salaries 700 687 Temporary Salaries 1,964 2,278 Longevity Pay 400 400 Contractual and Professional Services 150 80 Printing, Binding and Publication 100 Dues, Subscriptions and Memberships 373 186 Maintenance of Equipment 165 48 Travel Expense 635 287 Training 850 520 Books, Pamphlets and Materials 300 118 Small Tools and Equipment 100 27 Operating Materials and Supplies 1,100 178 Equipment Replacement 1,500 1,500 Equipment Repairs 2,300 2,471 Machinery and Equipment 1,022 927 Other Operational Expense 200 127 $ 67,023 $ 64,228 Total Highways and Streets $2,109,779 $1,883,814 I I I I I I ! i I I I I I I I ! I I SPECIAL REVENUE FUNDS I Fund Descriptions Library Fund The Library Fund is nsed to account for the resources necessary to provide the educational, cultural and recreational activities of the Glenview Public Library. Federal Revenue Sharing Fund The Federal Revenue Sharing Fund provides acconntability for Federal Revenue Sharing monies received under Title I of the State and Local Fiscal Assistance Act of 1972. Illinois Municipal Retirement Fund The Illinois Municipal Retirement Fund is used to account for the revenue and expenditnres associated with providing disability and pension benefits for Glenview employees. This fund also provides the employer with a portion of F.I.C.A. Contributions. Motor Fuel Tax Fund The Motor Fuel Tax Fund is used to account for the activities involved with street maintenance and construction. Financing is provided by the Village's share of State gasoline taxes. State law requires these gasoline taxes to be used to maintain streets. 52 VILLAGE OF GLENVIEW, ILLINOIS LIBRARY FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1985 Budget Actual Revenues Property Taxes - Current $ 670,000 $671,114 Property Taxes - Prior 11,592 Replacement Taxes 31,129 24,032 Interest Income 30,000 35,870 Other Current Charges 125,500 98,068 Total Revenues $ 856~629 $840,676 Expenditures $ 938,264 $815,730 Excess (Deficiency) of Revenues over Expenditures before Other Financing (Uses) $ (81,635) $ 24,946 Other Financing (Uses) Operating Transfers (Out) Capital Projects Fund (45,000) (45,000) Excess (Deficiency) of Revenues over Expenditures and Other Uses $(126,635) $(20,054) Fund Balance January 1, 1985 $452,580 Prior Period Adjustment (24,808) Adjusted Balance $427,772 December 31, 1985 $407,718 See accompanying Notes to the Financial Statements. VILLAGE OF GLENVIEW, ILLINOIS LIBRARY FUND STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1985 Budget Actual Regular Salaries $543,389 $307,116 Overtime Salaries 6,299 Temporary Salaries 188,249 Contractual and Professional Services 2,800 6,051 Printing, Binding and Publication lO,O00 10,099 Power and Lights 1,000 428 Heating 10,000 2,902 Water 1,100 70i Postage 7,200 5,477 Telephone and Telegraph 6,000 6,081 Dues and Subscriptions 900 678 Maintenance of Equipment 4,500 4,801 Maintenance of Copiers 12,000 8,337 Maintenance of EDP Equipment 28,000 24,747 Maintenance of Buildings 11,600 7,747 Insurance and Bonding 36,000 44,760 Travel Expense 3,500 3,368 Training 1,600 1,588 Library Programs 2,700 745 Office Supplies 10,000 9,590 Books, Pamphlets and Materials 174,675 164,286 Cleaning Supplies 2,800 1,878 Other Operating Expenses 500 582 Contingencies 45,000 1,645 Automation and Expansion 15,000 Machinery and Equipment 6,888 Gift Fund 8,000 687 Total Expenditnres $938,264 $815,730 VILLAGE OF GLENVIEW, ILLINOIS ILLINOIS MUNICIPAL RETIREMENT FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1985 Budget Actual Revenues Property Taxes - Current $ 261,565 $261,971 Property Taxes - Prior 4,507 Replacement Taxes 12,103 9,322 Employee Contributions 360,971 379,860 Interest 61,500 43,012 Other 26,971 26,971 Total Revenues $ 723,110 $ 725,643 Expenditures Retirement Contributions 831,658 845,288 Excess (Deficiency) of Revenues over Expenditures before Other Financing Sources $(108,548) $(119,645) Other Financing Sources Operating Transfers In Waterworks and Sewerage Fund - East $ 43,000 $ 43,000 Waterworks and Sewerage Fund - West 13,000 13,000 $ 56,000 $ 56,000 Excess (Deficiency) of Revenues and Other Sources over Expenditures $ (52,548) $ (63~645) Fund Balance January 1, 1985 $ 626,382 Prior Period Adjustment. (9,322) Adjusted Balance $ 617,060 December 31, 1985 $ 553,415 See accompanying Notes to the Financial Statements. 56 VILLAGE OF GLENVIEW, ILLINOIS MOTOR FUEL TAX FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1985 Budget Actual Revenues Allotments $ 600,000 $ 544,182 Interest Income 57,000 66,197 Miscellaneons 30,097 Total Revenues $ 657,000 $ 640,476 Expenditures - - Excess of Revenues over Expenditures before Other Financing (Uses) $ 657,000 $ 640,476 Other Financing (Uses) Operating Transfers (Out) Capital Projects Fund (1,228,421) (1,228,421) Excess (Deficiency) of Revenues over Expenditures and Other Uses $ (571,421) $ (587,945) Fund Balance January 1, 1985 $ 1,307,097 Prior Period Adjustment (30~000) Adjusted Balance $ 1,277,097 December 31, 1985 $ 689,152 See accompanying Notes to the Financial Statements. I I I ! ! ! I I I I ! I I I I I I I DEBT SERVICE FUNDS I Fund Description The Debt Service Funds are used to account for the accumulation of resources for the payment of General Long-Term Debt. The following issues are being retired by tax levy. Waukegan Road Sanitary Service Bond Series of 1968 This issue in the amount of $38,000 was used to construct a sanitary sewer on Woodlawn Drive. Police Administration Buildin~ Bond Series of 1972 This issue in the amount of $1,400,000 was used to construct the Police Administration Building. Public Library Parking Lot Bond Series of 1976 This issue in the amount of $200,000 was used to construct a library parking lot. Municipal Building Bond Series of 1979 This issue in the amount of $950,000 was used to construct the Village Hall. Library Bond Series of 1984 This issue in the amount of $3,100,000 was used to construct an addition to the library. Library Bond Series of 1985 This issue in the amount of $150,000 represents the unissued portion of the Library Bonds of 1984. The total 1984 authorization was for $3,250,000. Special Service Area Number 1 Bond Series of 1980 This issue in the amount of $70,000 was used to install a lighting system in the Swainwood Subdivison. Special Service Area Number 2 Bond Series of 1981 This issue in the amount of $38,000 was used to construct a sanitary sewer on Woodlawn Drive. Fund Description (Cont.) Special Service Area Number 3 Bond Series of 1982 This issue in the amount of $25,000 was used to construct a water main on Woodlawn Drive. Special Service Area Number 4 Bond Series of 1982 This issue in the amount of $90,000 was used to construct a sanitary sewer in the Northwest portion of the Village. VILLAGE OF GLENVIEW, ILLINOIS DEBT SERVICE FUNDS COMBINING STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL DECEMBER 31, 1985 (See Following Page) I I I I I I I I I I i ! I I I I I I CAPITAL PROJECT FUNDS I Fund Descriptions Public Works Garage Fund The Public Works Garage Fund is used to account for the revenues and expenditures associated with the construction of a new public works garage. Construction of the garage began in the fall of 1982. Capital Equipment Replacement Fund The Capital Equipment Replacement Fund is used to account for the funds annually set aside for the eventual replacement of certain capital equipment. Capital Projects Fund The Capital Projects Fund is used to account for revenues and expenditures involved with all other Capital Improvements throughout the Village. 62 VILLAGE OF GLENVIEW, ILLINOIS PUBLIC WORKS GARAGE FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1985 Budget Actual Revenues Interest Income $ 33,000 $ 22,001 Miscellaneous 70 Total Revenues $ 33,000 $ 22,071 Expenditures Construction Costs 675,500 46,157 Excess (Deficiency) of Revenues over Expenditures before Other Financing Sources $(642,500) $(24,086) Other Financing Sources Operating Transfers In Corporate Fund $ 75,000 $ 75,000 Federal Revenue Sharing Fund 134,500 134,500 Waterworks and Sewerage Fund - East 91,800 91,800 Waterworks and Sewerage Fund - West 58,200 58,200 $ 359,500 $359,500 Excess (Deficiency) of Revenues and Other Sources over Expenditures .$(283,000) $335,414 Fund Balance January 1, 1985 349,219 December 31, 1985 $684,633 See accompanying Notes to the Financial Statements. VILLAGE OF GLENVIEW, ILLINOIS CAPITAL EQUIPMENT REPLACEMENT FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1985 Budget Actual Revenues Miscellaneous $ 386,708 $ 404,965 Interest Income 63,500 79,139 Total Revenues $ 450,208 $ 484,104 Expenditures Automobiles $ 694,500 $ 709,895 Miscellaneous 1,000 957 Total Expenditures $ 695,500 $ 710,852 Excess (Deficiency) of Revenues over Expenditures $(245,292) $(226,748) Fund Balance January 1, 1985 831,099 December 31, 1985 $ 604,351 See accompanying Notes to the Financial Statements. 64 VILLAGE OF GLENVIEW, ILLINOIS CAPITAL PROJECTS FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1985 Budget Actual Revenues Grants $ 317,000 Interest 75,000 $ 190,874 Miscellaneous 1,736,500 34,526 Total Revenues $ 2,128,500 $ 225,400 Expenditures Architects Fees $ 497,603 Construction $ 1,920 000 1,831,948 Sanitary Sewer 226 000 29,921 Stormwater Management 35 000 74,649 Transportation 3,037 083 1,183,480 Trees 30 000 51,503 Water Transmission and Distribution 1,493 000 185,512 Equipment 205 138 184,048 Miscellaneous 20 000 9,017 Total Expenditures $ 6,966 221 $ 4~047,681 (Deficiency) over Expenditures Excess of Revenues before Other Financing Sources $(4,837,721) $(3,822,281) Other Financing Sources Operating Transfers In Corporate Fund $ 80,000 $ 80,000 Library Fund 45,000 45,000 Motor Fuel Tax Fund 1,228,421 1,228,421 Waterworks and Sewerage Fund - East 570,000 293,000 Waterworks and Sewerage Fund - West 102,000 $ 2,025,421 $ 1,646,421 Proceeds from Bonds 45,000 198~000 $ 2~070,421 $ 1~844~421 Excess (Deficiency) of Revenues and Other Sources over Expenditures $(2,767,300) $(1,977,860) Fund Balance January 1, 1985 2,280,008 December 31, 1985 $ 302,148 See accompanying Notes to the Financial Statements. I I I I I i I I I I I I I I I I I I PROPRIETARY FUND TYPES I ENTERPRISE FUNDS Fund Descriptions Waterworks and Sewerage Fund - Eas~ The Water and Sewer Fund - East is used to account for the provision of water and sewer service to the residents of east Glenview. All activity necessary to provide such services is accounted for in this fund including, but not limited to Administration (Director of Public Works), Operation, Maintenance, Financing and related Debt Service, and Billing and Collection. Waterworks and Sewerage Fund - West The Water and Sewer Fund - West is used to account for the provision of water and sewer service to the residents of west Glenview and the unincorporated area adjacent to the western boarder of the Village. Ail activity necessary to provide such services is accounted for in this fund including, but not limited to, Administration (Director of Public Works), Operations, Maintenance, Financing and related Debt Service, and Billing and Collection. Commuter Parking Lot Fund The Commuter Parking Lot Fund accounts for the activity involved with but not limited to the Administration (Finance Director), sale of permits and maintenance of the commuter parking facilities within the Village. VILLAGE OF GLENVIEW, ILLINOIS ENTERPRISE FUNDS COMBINING BALANCE SHEET DECEMBER 31, 1985 (See Following Page) VILLAGE OF GLENVIEW, ILLINOIS ENTERPRISE FUNDS COMBINING STATEMENT OF REVENUES, EXPENSES~ AND CHANGES IN RETAINED EARNINGS - UNRESERVED FOR THE YEAR ENDED DECEMBER 31~ 1985 Wate~ and Sewer Charges $1,540,688 $2,089,237 $3,629,925 $3,171,634 Administration $ 150,740 $ 314,517 $ 465,257 $ 570,293 Operating Income $ 257!999 $ 949~060 $ 201678 $1,227,737 $ 533,864 Interest Income $ 5,696 $ 1,579 $ 22,774 $ 30,049 $ 41,840 Interest Expense (2~450) (504,068) (5061518) (5611432) $ 3~246 ~ (502,489) $ 22,774 $ (476,469) $ (519,592) Extraordinary Items $ 261,245 $ 446,571 $ 43~452 $ 751,268 $ 14,272 Operating Transfers (Out) (433,157) (71~200) (504~357) (268,470) before Extraordinary Items $ (171,912) $ 375,371 $ 43,452 $ 246,911 $ (254,198) and Extraordinary Items $ (171~912) $ 375~371 $ 431452 $ 2461911 $ (202,635} Restricted Accounts $ (24,000) - $ (24,000) $ 341,545 Retained Earnings - Unreserved $ (195,912) $ 375,371 $ 43,452 $ 222,911 $ 138,910 67 Vlll~t~ OF GLENVIEW, ILLINOIS ENI~SE O~BINII~ ~ OF CHANGES IN FINANCIAL POSITION ~ THE YEAR E~ED [E6t~ER 31, 1985 Waterworks Water%a~rks and Sewerage Sewerage Parking Totals Fund - East Fund - West Lot Fund 1985 1984 Cash k[as Provided By Operations Net Income (Loss) aed Other Uses $(171,912) $375,371 $ 43,452 $246,911 $(202,635) Add Back Nen-Cash Expense Depreciation 150,925 226,500 141 377,566 369,711 A~)r tization 5 ~289 5,289 5,289 $ (20,987) $601,871 $ 48,882 $629,766 $ 172,365 Decrease in Current Assets 5,551 5,551 4,896 Increase in Current Liabilities 108,611 70 108,681 239,252 Increase in Contributed Capital 152,785 152,785 Intrafund Transfers In 341,545 $ 131,798 $710,482 $ 54~503 $896,783 $ 758,058 Cash ~s Used To Increase Current Assets $ 201,195 $ 54,279 $255,474 $ 43,935 Purchase Fixed Assets 167,075 9,873 $ 2,820 179,768 11,626 Decrease Current Liabilities (Payable from Current Assets) 8,540 8,540 Rmtire Bond Principal 50,000 400,000 450,000 725,000 Intrafund Trm~sfers Out 24,000 24,000 $ 450~810 $464~152 $ 2,820 $917,782 $ 780,561 Net Increase (Decrease) $(319,012) $246,330 $ 51,683 $(20,999) $ (22,503) Cash and Inveshnents January 1 (460,122) 478,063 281 ~091 299,032 321,535 Dec~ber 31 $(779,134) $724,393 $332~774 $278,033 $ 299~032 See accompanying Netes to the Financial Stata~mts. VILLAGE OF GLENVIEW, ILLINOIS WATERWORKS AND SEWERAGE FUND - EAST STATEMENT OF CHANGES IN CONTRIBUTED CAPITAL FOR THE YEAR ENDED DECEMBER 31, 1985 Increases Fixed Asset Contributions $152,785 Decreases - Net Increase $152,785 Account Balance January 1, 1985 - December 31, 1985 $152,785 See accompanying Notes to the Financial Statements. 7O VILLAGE OF GLENVIEW, ILLINOIS WATERWORKS AND SEWERAGE FUND - EAST STATEMENT OF CHANGES IN RETAINED EARNINGS - RESERVED - RESTRICTED ACCOUNTS FOR THE YEAR ENDED DECEMBER 31, 1985 Increases Interest Income $ 13,653 Intrafund Transfers In - Operations and Maintenance Account 24,000 Interfund Transfers In - Waterworks and Sewerage Fund West 75,000 Miscellaneous 1~000 $ 113,653 Decreases Extraordinary Repairs and Replacements 258,641 Net (Decrease) $(144,988) Account Balance January 1, 1985 405,573 December 31, 1985 $ 260,585 See accompanying Notes to the Financial Statements. VILLAGE OF GLENVIEW, ILLINOIS WATERWORKS AND SEWERAGE FUND - EAST OPERATIONS AND MAINTENANCE ACCOUNT STATEMENT OF REVENUES, EXPENSES AND CHANGES IH RETAINED EARNINGS - UNRESERVED - BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMEER 31~ 1985 1985 1984 Budget Actual Actual Operating Revenues Charges for Services Water and Sewer Charges $2,318,460 $1,540,688 $1,194,156 Water Meter Repair Charges 500 178 115 Water Connection Charges 10.000 17,592 10,598 Water Meters and Remote Readers 6,000 11,475 3,720 Administrative Support 369,243 369,243 110,350 Brass Fittings 1,500 3,411 2,067 Water for Construction 1,300 3,713 1,585 Agreements/Recapture 27,743 3,806 Miscellaneous 151700 21,013 42,295 Total Operating Revenues $2;722,703 $1~995~056 $1~3681690 Operating Expenses Excluding Depreciation Water Administration $ 159,745 $ 150,740 $ 172,353 Supply amd Metering 892,176 854,177 781,701 Pumping Station 99,083 94,569 84,700 Distribution System 160,010 145,737 142,343 Sewer Operations and Maintenance 99,350 116,582 94,362 Overhead 2601421 2241327 2391001 Total Operating Expenses Excluding Depreciation $1,670,785 $11586t132 $1~514,460 Operating Income (Loss) before Depreciation $1,051,918 $ 408,924 $ (145,770) Depreciation 150,925 144,198 Operating Income (Loss) $11051,918 $ 257~999 $ (289,968) Nonoperating Income (Expenses) Interest Income $ 16,700 $ 5,696 $ 17,339 Interest Expense (3~650) (2,450) (31,854) $ 13,050 $ 3,246 $ (14~515) Net Income (Loss) before Other Financing Uses and Extraordinary Items $1~0641968 $ 261~245 $ (3041483) Other Financing Uses Operating Transfers (Out) Illinois Municipal Retirement Fund $ (43,000) $ (43,000) $ (41,115) Debt Service Fund (5,357) (5,357) (4,570) Public Works Garage Fund (91,800) (91,800) (91,800) ~pital P~ojects Fund (570,000) (2937000) (60 000) Net Income (Loss) and Other Uses before Extraordinary Items $ 3541811 $ (171,912) $ (501,968) Extraordinary Items Gain on Defeasance of Debt 51;563 Net Income (Loss) and Other Uses and Extraordinary Items $ (171,912) $ (450,405) Other Changes in Retained Earnings - Unreserved Intrafund Transfers In (Out) - Retained Earnings - Reserved - Restricted Accounts (24~00H) 3411545 Net (Decrease) in Retained Earnings - Unreserved $ (195,912) $ {108,860) Retaine~ Earnings - Unreserved January i 3~O07t56g 31116,428 December 31 $218111656 $3~007,568 See accompanying Notes to the Financial Statement~. 72 VILLAGE OF GLENVIEW, ILLINOIS WATERWORKS AND SEWERAGE FUND - EAST OPERATIONS AND MAINTENANCE ACCOUNT STATEMENT OF OPERATING EXPENSES - BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1985 Budget Actual Water Administration $ 3,600 $ 1,236 Contractual Professional Services Printing, Binding and Publication 50 21 Postage 7,000 3,807 Administrative Charges - General Fund 145,595 145,595 Other Operational Expenses 3,500 81 Total Water Administration $159,745 $150,740 Supply and Metering Regular Salaries $ $ 23,330 35,760 Overtime Salaries 2,806 1,035 Temporary Salaries 200 1,158 Contractual Professional Services 18,800 16,582 Water 833,040 774,973 Maintenance of Buildings 2,000 807 Operational Materials and Supplies 12,000 23,862 Total Supply and Metering $892,176 $854,177 Pumping Station Regular Salaries $ 13,078 $ 15,974 Overtime Salaries 4,365 10,897 Temporary Salaries 200 534 Contractual Professional Services 7,490 2,922 Power and Light 53,000 45,445 Heating 5,500 3,082 Telephone 2,400 2,422 Maintenance of Building 7,250 10,072 Cleaning and Household Supplies 50 50 Maintenance Materials - Equipment 3,900 2,169 Maintenance Materials - Building 800 309 Operating Materials and Supplies 1,050 693 Machinery and Equipment 2,400 1,873 $101,483 $ 96,442 Less Nonoperating Expenses Equipment 2,400 1,873 Machinery and Total Pumping Station $ 99,083 $ 94,569 VILLAGE OF GLENVIEW, ILLINOIS WATERWORKS AND SEWERAGE FUND - EAST OPERATIONS AND MAINTENANCE ACCOUNT STATEMENT OF OPERATING EXPENSES - BUDGET AND ACTUAL (CONT.) FOR THE YEAR ENDED DECEMBER 31, 1985 Budget Actual Distribution System Regular Salaries $ 86,834 $ 80,564 Overtime Salaries 20,786 17,i22 Temporary Salaries 6,590 6,136 Contractual Professional Services 3,300 2,48i Maintenance of Equipment 500 294 Maintenance of Buildings 12,000 10,142 Maintenance Materials - Buildings 26,500 26,305 Operating Materials and Supplies 3,500 2,693 Machinery and Equipment 8,000 8,000 $168,010 $153,737 Less Nonoperating Expenses Machinery and Equipment 8,000 8,000 Total Distribution System $160,010 $145,737 Sewer Operations and Maintenance~ Regular Salaries $ 57,541 $ 67,765 Overtime Salaries 1,559 3,138 Temporary Salaries 3,000 2,294 Contractual Professional Services 5,000 7,216 Power and Light 3,500 1,288 Maintenance of Equipment 3,000 2,987 Rentals 60 60 Maintenance Materials and Equipment 800 2,143 Operating Materials and Supplies 6,530 8,020 Equipment Replacement 8,060 8,060 Equipment Repairs 10,300 13,611 Total Sewer Operations and Maintenance $ 99,350 $116,582 74 VILLAGE OF GLENVIEW, ILLINOIS WATERWORKS AND SEWERAGE FUND - EAST OPERATIONS AND MAINTENANCE ACCOUNT STATEMENT OF OPERATING EXPENSES - BUDGET AND ACTUAL (CONT.) FOR THE YEAR ENDED DECEMBER 31, 1985 Budget Actual Overhead Regular Salaries $121,929 $ 94,802 Overtime Salaries 208 117 Temporary Salaries 1,000 1,542 Longevity Pay 2,450 2,450 Dues, Subscriptions and Memberships 470 468 Maintenance of Equipment 75 467 Rentals 3,700 2,216 Travel Expense 200 101 Training 1,000 1,620 Uniform Allowance 3,500 3,318 Office Supplies 650 535 Books, Pamphlets and Materials 150 218 Small Tools and Equipment 3,800 3,829 Equipment Replacement 49,289 49,289 Equipment Repairs 72,000 62,812 Machinery and Equipment 3,000 2,727 $263,421 $226,511 Less Nonoperating Expenses Machinery and Equipment 3,000 2,184 Total Overhead $260,421 $224,327 76 VILLAGE OF GLENVIEW, ILLINOIS WATERWORKS AND SEWERAGE FUND - WEST STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS - UNRESERVED - BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 1985 31, 1985 1984 Budget Actual Actual Operating Revenues Charges for Services Water and Sewer Charges $1,964,204 $2,089,237 $1,977,478 Water Connection Charges 30,000 78,690 56,159 Water Meters and Remote Readers 9,000 13,870 13,392 Brass Fittings 2,000 667 2,073 Water for Construction 3,000 2,992 2,802 Turn on Charges 2,500 2,250 2,096 Miscellaneous 2,000 20,217 2,573 Total Operating Revenues $2,012~704 $2,207,923 $2,056,573 Operating Expenses Water Administration $ 396,316 $ 314,517 $ 372,940 Special Projects 43,709 Supply and Metering 582,114 536,093 428,326 Pumping Station 137,262 107,907 114,258 Distribution System 104,351 73,846 68~925 Total Operating Expenses $1~220~043 $1,032,363 $1~028,158 Operating Income before Depreciation $ 792,661 $1,175,560 $1,028,415 Depreciation - 226,500 225~513 Operating Income $ 792,661 $ 949,060 $ 802,902 Nonoperating Income (Expenses) Interest Income $ 2,500 $ 1,579 Interest Expense (516,188) (504~068) $ (529~578) $ (513,688) $ (502,489) $ (529,578) Net Income before Other Financing Uses $ 278,973 $ 446,571 $ 273~324 Other Financing Uses Operating Transfers (Out) Illinois Municipal Retirement Fund $ (13,000) $ (13,000) $ (12,785) Public Works Garage Fund (58,200) (58,200) (58,200) Capital Projects Fund (102,000) ~ (173,200) $ (71~200) $ (70,985) Net Income and Other Uses $ 105,773 $ 375,371 $ 202,339 Retained Earnings January 1 1~324,529 1~122,190 December 31 $1,699,900 $1,324,529 See accompanying Notes to the Financial Statements. VILLAGE OF GLENVIEW, ILLINOIS WATERWORKS AND SEWERAGE FUND - WEST OPERATIONS AND MAINTENANCE ACCOUNT STATEMENT OF OPERATING EXPENSES - BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1985 Budget Actual Waterworks Administration Contractual Professional Services $ 3,000 $ 1,211 Postage 7,050 3,790 Computer Supplies 3,500 Administrative Charges General Fund 180,173 115,173 Waterworks and Sewerage Fund - East 194,243 194,243 Other Operating Expenses 8,350 100 Total Waterworks Administration $396,316 $314~517 Supply and Metering Regular Salaries $ 14,646 $ 25,973 Overtime Salaries 728 468 Temporary Salaries 200 1,676 Contractual Professional Services 11,900 15,037 Water 540,640 468,112 Maintenance of Buildings 2,000 255 Oper'ating Materials and Supplies 12,000 24,572 Total Supply and Metering $582,114 $536,093 78 VILLAGE OF GLENVIEW, ILLINOIS WATERWORKS AND SEWERAGE FUND - WEST OF EXPENSES - BUDGET AND ACTUAL STATEMENT OPERATING (CONT.) FOR THE YEAR ENDED DECEMBER 31, 1985 Budget Actual Pumping Station Regular Salaries $ 20,924 $ 12,421 Overtime Salaries 4,573 4,896 Temporary Salaries 200 1,569 Contractual Professional Services 8,340 3,911 Power and Light 89,000 76,547 Heating 2,000 1,623 Telephone 1,875 2,293 Maintenance of Buildings 6,000 2,096 Cleaning and Household Supplies 50 21 Maintenance Materials - Equipment 2,800 631 Maintenance Materials - Buildings 750 154 Operating Materials and Supplies 750 309 Machinery and Equipment 10,100 3~309 $147,362 $109,780 Less Nonoperating Expenses Fixed Assets Capitalized 10,100 1~873 Total Pumping Station $137,262 $107,907 Distribution System Regular Salaries $ 44,173 $ 25,547 Overtime Salaries 15,278 6,493 Temporary Salaries 4,300 1,529 Contractual Professional Service 3,300 3,621 Maintenance of Equipment 500 312 Maintenance of Buildings 12,000 6,283 Maintenance Materials - Building 21,300 26,920 Operating Materials and Supplies 3,500 3,141 Machinery and Equipment 8,000 8,000 $112,351 $ 81,846 Less Nonoperating Expenses Fixed Assets Capitalized 8,000 8,000 Total Distribution System $104~351 $ 73~846 8O VILLAGE OF GLENVIEW, ILLINOIS COMMUTER PARKING LOT FUND STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS - BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1985 1985 1984 Budget Actual Actual Revenues Meter Fees $11,000 $ 10,334 $ 10,066 Parking Decals 47~000 60,926 51,426 Total Revenues $58,000 $ 71,260 $ 61,492 Operating Expenses Contractual and Professional Services $42,000 $ 43,191 $ 33,247 Maintenance Materials Operational Materials 1,300 1,311 2,026 Depreciation and Amortization 5,430 5,289 Machinery and Equipment 52,000 3,470 $95,300 $ 53,402 $ 40,562 Less Nonoperating Expenses Capitalization of Fixed Assets 52,000 2~820 Total Operating Expenses $43,300 $ 50,582 $ 40~562 Operating Income $14,700 $ 20,678 $ 20,930 Nonoperating Income Interest 19,700 22~774 24,501 Net Income $34,400 $ 43,452 $ 45,431 Retained Earnings January 1 300,143 254,712 December 31 $343,595 $300,143 See accompanying Notes to the Financial Statements. VILLAGE OF GLENVIEW, ILLINOIS COMMUTER PARKING LOT FUND STATEMENT OF FIXED ASSETS AND DEPRECIATION FOR THE YEAR ENDED DECEMBER 31, 1985 Balances Balances Jan. 1, 1985 Additions Retirements Dec. 31, 1985 ASSETS Leasehold Improvements $106,514 $106,514 Machinery and Equipment $2,820 2,820 $106,514 $2,820 - $109,334 ACCUMULATED DEPRECIATION/ AMORTIZATION Leasehold Improvements $ 92,983 $5,289 $ 98,272 Machinery and Equipment 141 141 $ 92,983 $5,430 $ 98,413 Net Asset Value $ 10,921 See accompanying Notes to the Financial Statements. I I I I I ! I I I i I I I I I I I i i INTERNALSERVICEFUNDS Fund Description Municipal Equipment Repair Fund The Municipal Equipment Repair Fund is used to account for the costs of repairing and maintaining all vehicles of the Village. These costs include labor, material, fuel, and fixed overhead of the Village's repair facility. 82 VILLAGE OF GLENVIEW, ILLINOIS INTERNAL SERVICE FUND MUNICIPAL EQUIPMENT REPAIR FUND BALANCE SHEET DE'CEMBER 31, 1985 1985 1984 ASSETS Current Assets Cash and Investments $93,305 $114,534 Accounts Receivable 3~549 397 Total Assets $96,854 $114,931 LIABILITIES AND FUND EQUITY Current Liabilities Accounts Payable $12,408 $ 9,449 Due to Other Funds 86,951 Total Liabilities $12,408 $ 96,400 Fund Equity Retained Earnings 84,446 18,531 Total Liabilities and Fund Equity $96~854 .$114,931 See accompanying Notes to the Financial Statements. VILLAGE OF GLENVIEW, ILLINOIS MUNICIPAL EQUIPMENT REPAIR FUND STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS - BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1985 1985 Budget Actual 1984 Operating Revenues Charges for Services $433,000 $432,740 $396,477 Miscellaneous 8,925 3,792 Total Operating Revenues $433,000 $441,665 $400,269 Operating Expenses 437,884 378,242 365,197 Operating Income (Loss) $ (4,884) $ 63,423 $ 35,072 Nonoperating Revenues Interest Income 1,700 2,492 2,020 Net Income (Loss) $ (3,184) $ 65,915 $ 37,092 Retained Earnings January 1 18,531 (18,561) December 31 $ 84,446 $ 18~531 See accompanying Notes to the Financial Statements. 84 VILLAGE OF GLENVIEW, ILLINOIS INTERNAL SERVICE FUND MUNICIPAL EQUIPMENT REPAIR FUND STATEMENT OF CHANGES IN FINANCIAL POSITION FOR THE YEAR ENDED DECEMBER 31, 1985 1985 1984 Cash Was Provided By Operations Net Income $ 65,915 $ 37,092 Decrease in Current Assets 34,203 Increase in Current Liabilities 6~378 $ 65~915 $ 77,673 Cash Was Used To Increase Current Assets $ 3,152 Decrease Current Liabilities 83,992 $ 87,144 - Net Increase (Decrease) $(21,229) $ 77,673 Cash and Investments January 1 114,534 36,861 December 31 $ 93,305 $114,534 See accompanying Notes to the Financial Statements. VILLAGE OF GLENVIEW, ILLINOIS MUNICIPAL EQUIPMENT REPAIR FUND STATEMENT OF OPERATING EXPENSES - BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1985 Budget Actual Regular Salaries $117,174 $ 99,356 Overtime Salaries 2,910 6,820 Temporary Salaries 13,000 3,928 Contractual Professional Services 5,000 4,038 Maintenance of Equipment 27,000 23,879 Maintenance of Buildings 2,000 1,042 Uniform Allowance 3,000 1,937 Fuel 160,000 123,823 Motor Vehicle Supplies 25,500 24,727 Cleaning and Household Supplies 900 2,454 Maintenance Materials - Equipment 65,000 74,727 Maintenance Materials - Buildings 4,500 2,267 Small Tools and Equipment 2,500 1,983 Equipment Replacement 4,500 4,500 Other Maintenance 4,900 2,761 Total Expenditures $437,884 $378,242 I I I I I I I I I I I I I I I I I I FIDUCIARY FUND TYPES I TRUST AND AGENCY FUNDS Fund Descriptions Expendable Trust Escrow Deposit Fund The Escrow Fund is used to account for the funds placed on deposit with the Village by building contractors working within the Village limits. Interest earned on escrow deposits is annually transferred to the Corporate Fund. Deposit Fund The Deposit Fund is used to account for money on deposit with the Village being held on a temporary basis such as security deposits for use of Village equipment. Pension Trust Police Pension Fund The Police Pension Fund is used to account for the resources necessary to provide disability and retirement benefits to personnel of the Glenview Police Department. Firemen's Pension Fund The Firemen's Pension Fund is used to account for the resources necessary to provide disability and retirement benefits to personnel of the Glenview Fire Department. VILLAGE OF GLENVIEW, ILLINOIS TRUST AND AGENCY FUNDS EXPENDABLE TRUST FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES FOR THE YEAR ENDED DECEMBER 31, 1985 Escrow Totals Deposit Deposit 1985 1984 Revenues Miscellaneous Interest Income $ 96,890 $1,237 $ 98,127 $107,539 Expenditures Contractual Services 479 479 3,432 Excess of Revenues over Expenditures before Other Financing (Uses) $ 96,890 $ 758 $ 97,648 $104,107 Other Financing (Uses) Operating Transfer (Out) Corporate Fund (96,980) (96,890) (104,089) Excess of Revenues over Expenditures and Other Uses - $ 758 $ 758 $ 18 Fund Balances January 1 - 1,286 1,286 1~268 December 31 - $2,044 $ 2,044 $ 1,286 See accompanying Notes to the Financial Statements. 88 VILLAGE OF GLENVIEW, ILLINOIS TRUST AND AGENCY FUNDS PENSION TRUST FUNDS COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND BALANCES FOR THE YEAR ENDED DECEMBER 31, 1985 Police Firemen's Totals Pension Pension 1985 1984 Revenues Taxes Property Taxes $ 548,065 $ 299,003 $ 847,068 $ 754,434 Replacement Taxes 11,895 6,141 18,036 28,845 Employee Contributions 149,009 95,739 244,748 231,271 Miscellaneous Interest Income 465,639 418,232 883,871 753,986 Other 17,376 33,461 50,837 48~483 Total Revenues $1,191,984 $ 852,576 $ 2~044,560 $1,817,019 Expenses Pensions and Refunds $ 257,364 $ 65,564 $ 322,928 $ 327,184 Other 1,083 2,236 3,319 1,430 Total Expenses $ 258,447 $ 67,800 $ 326,247 $ 328,614 Net Income $ 933,537 $ 784,776 $ 1,718,313 $1,488,405 Fund Balances January 1 4,789,893 3~922,102 8,711,995 7.,223,590 December 31 $5~723,430 $4,706~878 $10~430,308 $8,711~995 See accompanying Notes to the Financial Statements. VILLAGE OF GLENVIEW, ILLINOIS TRUST AND AGENCY FUNDS PENSION TRUST FUNDS COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION FOR THE YEAR ENDED DECEMBER 31, 1985 Police Firemen's Totals Pension Pension 1985 1984 Cash Was Provided By Operations Net Income $ 933,537 $ 784,776 $1,718,313 $1,488,405 Prior Period Adjustments 653,653 $ 933,537 $ 784,776 $1~718,313 $2,142,058 Cash Was Used To Increase Current Assets $ 75,280 $ 12,318 $ 87,598 $ 130,335 Decrease Current Liabilities 649,641 $ 75~280 $ 12,318 $ 87,598 $ 779,976 Net Increase $ 858,257 $ 772,458 $1,630,715 $1,362,082 Cash and Investments January 1 4~199,295 3,514,693 7,713~988 6~351,906 December 31 $5,057,552 $4,287~151 $9,344~703 $7~713~988 See accompanying Notes to the Financial Statements. 9o VILLAGE OF GLENVIEW, ILLINOIS POLICE PENSION FUND STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1985 Budget Actual Revenues Property Taxes - Current $ 477,069 $ 514,243 Property Taxes - Prior 33,822 Replacement Taxes 19,346 11,895 Employees' Contributions 142,350 149,009 Interest Income 400,000 465,639 Other 17,246 17,376 Total Revenues $1,056,011 $1,191,984 Expenses Pensions and Refunds $ 259,303 $ 257,364 Other Operating Expenses 800 1,083 Total Expenses $ 260,103 $ 258,447 Net Income $ 795~908 $ 933,537 Fund Balance January 1, 1985 4,789,893 December 31, 1985 $5,723,430 See accompanying Notes to the Financial Statements. VILLAGE OF GLENVIEW, ILLINOIS FIREMEN'S PENSION FUND STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1985 Budget Actual Revenues Property Taxes - Current $284,729 $ 296,650 Property Taxes - Prior 2,353 Replacement Taxes 11,889 6,141 Employees' Contributions 92,230 95,739 Interest Income 358,000 418,232 Foreign Fire Insurance Tax 21,000 20,344 Other 12,117 13~117 Total Revenues $779,965 $ 852,576 Expenses Pensions $ 55,481 $ 65,564 Other Operating Expenses 800 2,236 Total Expenses $ 56,281 $ 67,800 Net Income $723,684 $ 784,776 Fund Balance January 1, 1985 . 3,922,102 December 31, 1985 $4~706~878 See accompanying Notes to the Financial Statements. 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 I iGENERAL FIXED ASSETS ACCOUNT GROUP 92 VILLAGE OF GLENVIEW, ILLINOIS GENERAL FIXED ASSETS ACCOUNT GROUP STATEMENT OF GENERAL FIXED ASSETS DECEMBER 31, 1985 1985 1984 GENERAL FIXED ASSETS Land $ 1,981,758 $ 1,981,758 Buildings and Improvements 8,273,019 8,267,869 Construction in Progress 2,919,844 Equipment 4,172,249 3,311,487 Furniture 517,276 517,276 Office Equipment 292,595 229,817 $18,156,741 $14,308,207 INVESTMENT IN GENERAL FIXED ASSETS General Revenues $12,702,849 $11,958,207 Bond Issues 5,453,892 2,350,000 $18,156,741 $14,308,207 See accompanying Notes to the Financial Statements. 94 VILLAGE OF GLENVIEW, ILLINOIS GENERAL FIXED ASSETS ACCOUNT GROUP STATEMENT OF CHANGES IN GENERAL FIXED ASSETS - BY FUNCTION AND ACTIVITY DECEMBER 31, 1985 January 1, December 31, 1985 Additions Deletions 1985 Function and Activity General Government Executive $ 64,166 $ 64,166 Administrative 1,484,771 1,484,771 Finance 657,213 657,213 Building and Grounds 128,336 128,336 Total General Government ,$, 2,334,486 - - $ 2,334,486 Public Safety Police $ 2,445,406 $ 181,404 $ 80,774 $ 2,546,036 Fire 1,570,831 346,754 1,917,585 Total Public Safety $ 4,016,237 $ 528,158 $ 80,774 $ 4,463,621 Public Works Administration $ 1,834,063 $ 167,240 $ 2,001,303 Building Division 840,542 840,542 Engineering 321,444 3,499 324,943 Street Division 2,630,298 i83,430 $ 59,910 2,753,818 Equipment and Supplies Division 782,022 3,000 785,022 Total Public Works $ 6,408,369 $ 357,169 $ 59,910 $ 6,705,628 Culture and Recreation Administration $ 1,549,115 $3,103,891 - $, 4,653,006 Total Fixed Assets $14,308,207 $3,989,218 $140,684 $,18,156,741 ! I I I I I I I I I I i I I i I I I GENERAL LONG TERM DEBT ACCOUNT GROUP I VILLAGE OF GLENVIEW, ILLINOIS GENERAL LONG-TERMDEBT ACCOUNT GROUP STATEMENT OF GENERAL LONG-TERM DEBT DECEMBER 31, 1985 (See Following Page) I [th ! I I I i I I I I I I I I I I I I I SUPPLEMENTARY DATA I VILLAGE OF GLENVIEW, ILLINOIS COMBINED STATEMENT OF INVESTMENTS 31, 1985 DECEMBER Interest Maturity Fund Rate Date General Corporate First Trust and Savings Bank of Glenview 7.100 1/27/86 $400,000 Cragin Federal Savings and Loan 8.000 1/31/86 i00,000 $ 500,000 Special Revenue Library Glenview State Bank 6.700 1/31/86 $300,000 Illinois Municipal Retirement 6.700 1/23/86 475~000 Motor Fuel Tax Cragin Federal Savings and Loan 8.250 3/27/86 $100,000 First National Bank of Chicago 7.800 3/03/86 304,004 Western Savings of Glenview 8.900 4/06/86 100,000 504,004 1,279,004 Capital Projects Public Works Garage Cragin Federal Savings and Loan 6.700 1/31/86 $275,000 7.875 1/27/86 130,271 Glenview State Bank 7.350 2/28/86 275,000 $680,271 Capital Equipment Replacement Glenview State Bank 6.700 ~/18/86 $225,000 7.OOO 3/09/86 2OO,OOO Cragin Federal Savings and Loan 7.950 2/28/86 250,000 675,000 Capital Projects Glenview State Bank 6.850 1/16/86 $200,000 6.700 1/31/86 125,000 CitiCorp Savings 7.850 2/09/86 100,000 425,000 1,780,271 98 VILLAGE OF GLENVIEW, ILLINOIS COMBINED STATEMENT OF INVESTMENTS DECEMBER 31, 1985 Interest Maturity Fund Rate Date Enterprise Commuter Parking Lot Glenview State Bank 6.700 1/31/86 $ 325,000 Trust and Agency Escrow Deposit First National Bank of Chicago 9.300 1/02/86 $200,000 8.500 2/25/86 230,082 First Trust and Savings Bank of Glenview 7.200 2/03/86 200,000 Glenview State Bank 7.350 2/24/86 200,000 Cragin Federal Savings and Loan 8.i25 6/23/86 104,088 $ 934,170 Police Pemsion Glenview State Bank 6.700 1/31/86 $400,000 U.S. Treasury Notes and Bonds 7.875 5/15/86 284,109 6.125 11/15/86 92,265 10.500 6/30/87 489,219 15.375 10/15/88 169,781 15.375 10/15/88 259,531 11.875 10/15/89 255,000 10.500 1/15/90 698,031 8.250 5/15/90 136,176 6.750 2/15/93 90,515 8.500 5/15/99 53,465 8.375 8/15/00 243,242 11.625 11/15/02 298,500 12.000 8/15/13 397,845 Govermment National Mortgage Association 7.250 2/15/02 195,915 8.250 8/15/06 446,766 8.000 10/15/06 448,444 4,958,804 Firemen's Pension Cragin Federal Savings and Loan 7.875 1/13/86 $102,313 8.125 6/09/86 129,040 Glenview State Bank 6.700 1/31/86 180,000 VILLAGE OF GLENVIEW~ ILLINOIS COMBINED STATEMENT OF INVESTMENTS DECEMBER 31, 1985 Interest Maturity Fund Rate Date Trust and Agency (Cont.) Firemen's Pemsion (Cont.) U.S. Treasury Bonds and Notes 7.875 5/15/86 $154,716 14.000 7/15/88 566 563 11.875 10/15/89 255 000 10.750 11/15/89 605 250 11.875 8/15/93 606 000 8.500 5/15/99 134 393 8.375 8/15/00 145 945 11.625 11/15/02 597 000 12.000 8/15/13 266 520 12.000 8/15/13 31,094 Government National Mortgage Association 7.500 3/15/07 450,982 $4,224,816 $10,117,790 $14,002,065 101 VILLAGE OF GLENVIEW, ILLINOIS LONG-TERM DEBT REQUIREMENTS WAUKEGAN ROAD SANITARY DISTRICT GENERAL OBLIGATION SANITARY SEWER BOND SERIES OF 1968 DECEMBER 31, 1985 Date of Issue October 1, 1967 Date of Maturity December 1, 1986 Authorized Issue $59,000 Denomination of Bonds $1,000 Interest Rates 1969 to 1979 - 5.00% 1980 to 1986 - 4.75% Interest Date December 1 Principal Maturity Date December 1 Payable at Michigan Avenue National Bank CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS Year Ended Tax Levy Coupons Due on Dec. 31 Principal Interest Total June 1 Amount Dec. I Amount 1986 $ 5,000 $119 $ 5,119 1985 $ 60 1986 $ 59 This issue was assumed by the Village during 1980. 102 VILLAGE OF GLENVIEW, ILLINOIS LONG-TERM DEBT REQUIREMENTS POLICE ADMINISTRATION BUILDING BOND SERIES OF 1977 DECEMBER 31, 1985 Date of Issue December 1, 1972 Date of Maturity January I, 1990 Authorized Issue $1,400,000 Actual Issue $1,400,000 Denomination of Bonds $5,000 Interest Rate Bonds 1-280 - 4-1/2% Interest Dates July 1 and January 1 Principal Maturity Date January 1 Payable at Northern Trust CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS Tax Fiscal Levy Bond Tax Levy Coupons Due on Year Year Numbers Principal Interest Total July 1 Amount Jan. 1 Amount 1986 1985 191-215 $125,000 $ 21,525 $146,525 1986 $10,762 1987 $10,763 1987 1986 216-240 125,000 15,587 140,587 1987 7,793 1988 7,794 1988 1987 241-260 100,000 9,650 109,650 1988 4,825 1989 4,825 1989 1988 261-280 100,000 4,900 104,900 1989 2,450 1990 2,450 $450,000 $ 51,662 $501,662 $25,830 $25,832 i03 VILLAGE OF GLENVIEW, ILLINOIS LONG-TERMDEBT REQUIREMENTS MUNICIPAL BUILDING BOND SERIES OF 1979 DECEMBER 31, 1985 Date of Issue April 1, 1979 Date of Maturity January 1, 1991 Authorized Issue $950,000 Actual Issue $950,000 Denomination of Bonds 1 - 190 - $5,000 Interest Rates Bonds I - 70 - 5.30% Bonds 71 - 160 - 5.40% Bonds 161 - 190 - 5.50% Interest Dates July 1 and January 1 Principal Maturity Date January 1 Payable at Amalgamated Trust and Savings Bank Chicago, Illinois CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS Tax Fiscal Levy Bond Tax Levy Coupons Due on Year Year Numbers Principal Interest Total July 1 Amount Jan. 1 Amount 1986 1985 71-90 $100,000 $ 32,550 $132,550 1986 $16,275 1987 $16,275 1987 1986 91-110 100,000 27,150 127,150 1987 13,575 1988 13,575 1988 1987 111-130 100,000 21,750 121,750 1988 10,875 1989 10,875 1989 1988 131-160 150,000 16,350 166,350 1989 8,175 1990 8,175 1990 1989 161-190 150~000 8,250 158~250 1990 4~125 1991 4~125 $600~000 $106,050 $706~050 $53,025 $53~025 104 VIllAGE OF GLENVIEW, ILLINOIS GENERAL OBLIGATION LIBRARY BO~ SER~S OF 1984 DECE~t~ 31, 1985 Date of Issue July 1, 1984 Date of Maturity December 1, 1997 ~thorized Issue $3,100,000 Danm~ination of Bonds $5,000 Interest Rates 1986-1988 - 9.90% 1993 - 9.25% 1989 - 8.50% 1994 - 9.50% 1990 - 8.60% 1995 - 9.75% 1991 - 8.90% 1996 - 9.90 1992 - 9.10% 1997 - 10.00% Interest Dates Jm~e 1 and December 1 Principal Maturity Date Dec~nber 1 Payable at Citibank OJRREN'r A~) FUTURE PRINCIPAL A~ IN'rEREST Tax Fiscal Levy Bond Tax Levy Coupons Due on Year Year Numbers Principal Interest Total June 1 inom~t Dec. 1 inount 1985 1984 1986 1985 1-40 $ 200.000 $ 291,500 $ 491,500 1986 $145,750 1986 $145,750 1987 1986 41-80 200 000 271,700 471,700 1987 135,850 1987 135,850 1988 1987 81-125 225 000 251,900 476,900 1988 125,950 1988 125,950 1989 1988 126-180 275 000 229,625 5C4,625 1989 114,812 1989 114,813 1990 1989 181-235 275 000 206,250 481,250 1990 103,125 1990 103,125 1991 1990 236-290 275 000 182,600 457,600 1991 91,300 1991 91,300 1992 1991 291-345 275 000 158,125 433,125 1992 79,062 1992 79,063 1993 1992 346-400 275 000 133,100 408,100 1993 66,550 1993 66,550 1994 1993 401-455 275 000 107,662 382,662 1994 53,831 1994 53,831 1995 1994 456-510 275 000 81,538 356,538 1995 40,769 1995 40,709 1996 1995 511-565 275 000 54,725 329,725 1996 27,362 1996 27,363 1997 1996 566-620 275 000 27,500 302,500 1997 13,750 1997 13,750 $3,100,000 $1,996,225 $5,096,225 $998,111 $998 ~054 105 VILLAGE OF GLENVIEW, ILLINOIS LONG-TERM DEBT REQUIREMENTS GENERAL OBLIGATION LIBRARY BOND SERIES OF 1985 DECEMBER 31, 1985 Date of Issue December 23, 1985 Date of Maturity December 23, 1988 Authorized Issue $150,000 Actual Issue $150,000 Denomination of Bonds $ 50,000 Interest Rate 6.125% Interest Dates June 23 and December 23 Principal Maturity Date December 23 Payable at Village of Glenview, Illinois CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS Tax Fiscal Levy Bond Tax Levy Coupons Due on Year Year Number Principal Interest Total June 23 Amount Dec. 23 Amount 1986 1985 1 $ 50,000 $ 9,188 $ 59,188 1986 $4,594 1986 $4,594 1987 1986 2 50,000 6,125 56,125 1987 3,062 3,063 1988 1987 3 50~000 3,062 53,062 1988 1,531 1,531 $150~000 $18,375 $168,375 $9,187 $9,188 106 VILLAGE OF GLENVIEW, ILLINOIS LONG-TERM DEBT REQUIREMENTS SPECIAL SERVICE AREA #1 BOND SERIES OF 1980 DECEMBER 31, 1985 Date of Issue July 31, 1980 Date of Maturity July 31, 1990 Authorized Issue $70,000 Denomination of Bonds $7,000 Interest Rate 6.00% Interest Dates January 31 and July 31 Principal Maturity Date July 31 Payable at Glenview State Bank CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS Tax Fiscal Levy Bond Tax Levy Coupons Due on Year Year Number Principal Interest Total July 31 Amount Jan. 31 Amount 1986 1984 $1,050 $ 1,050 1986 $1,050 1986 1985 6 $ 7,000 1,890 8,890 1986 $1,050 1987 840 1987 1986 7 7,000 1,470 8,470 1987 840 1988 630 1988 1987 8 7,000 1,050 8,050 1988 630 1989 420 1989 1988 9 7,000 630 7,630 1989 420 1990 210 1990 1989 10 7,000 210 7,210 1990 210 $35,000 $6,300 $41,300 $3,150 $3,150 VILLAGE OF GLENVIEW, ILLINOIS LONG-TERM DEBT REQUIREMENTS SPECIAL SERVICE AREA #2 BOND SERIES OF 1981 DECEMBER 31, 1985 Date of Issue February 20, 1981 Date of Maturity February 20, 1996 Authorized Issue $38,000 Interest Rate 8.5% Principal and Interest Dates February 20 and August 20 Payable at Glenview State Bank CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS Tax Fiscal Levy Tax Levy Year Year Principal Interest Total 1986 1985 $ 1,930 $ 2,599 $ 4,529 1987 1986 2,098 2,432 4,530 1988 1987 2,280 2,250 4,530 1989 1988 2,478 2,052 4,530 1990 1989 2,692 1,837 4,529 1991 1990 2,926 1,603 4,529 1992 1991 3,180 1,349 4,529 1993 1992 3,457 1,072 4,529 1994 1993 3,757 773 4,530 1995 1994 4,083 446 4,529 1996 1995 2~172 93 2,265 $31~053 $16,506 $47,559 108 VILLAGE OF GLENVIEW~ ILLINOIS LONG-TERM DEBT REQUIREMENTS SPECIAL SERVICE AREA #3 BOND SERIES OF 1982 DECEMBER 31, 1985 Date of Issue February 20, 1981 Date of Maturity February 20, 1996 Authorized Issue $25,000 Interest Rate 8.5% Principal and Interest Dates February 20 and August 20 ~ Payable at Glenview State Bank CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS Tax Fiscal Levy Tax Levy Year Year Principal Interest Total 1986 1985 $ 1,270 $ 1,710 $ 2,980 1987 1986 1,380 1,600 2,980 1988 1987 1,500 1,480 2,980 1989 1988 1,630 1,350 2,980 1990 1989 1,772 1,208 2,980 1991 1990 1,925 1,055 2,980 1992 1991 2,093 886 2,979 1993 1992 2,274 706 2,980 1994 1993 2,472 508 2,980 1995 1994 2,686 294 2,980 1996 1995 1,429 61 1,490 $20,431 $10~858 $31,289 VILLAGE OF GLENVIEW, ILLINOIS LONG-TERM DEBT REQUIREMENTS SPECIAL SERVICE AREA #4 BOND SERIES OF 1982 DECEMBER 31, 1985 Date of Issue November 15, 1982 Date of Maturity November 15, 1993 Authorized Issue $90,000 Interest Rate 9% Principal and Interest Dates May 15 and November 15 Payable at Glenview State Bank CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS Tax Fiscal Levy Tax Levy Year Year Principal Interest Total 1986 1985 $ 6,996 $ 6,841 $ 13,837 1987 1986 7,640 6,198 13,838 1988 1987 8,343 5,495 13,838 1989 1988 9,111 4,727 13,838 1990 1989 9,949 3,888 13,837 1991 1990 10,865 2,973 13,838 1992 1991 11,865 1,973 13,838 1993 1992 12,957 881 13,838 $77,726 $32,976 $110,702 110 VILLAGE OF GLENVIEW~ ILLINOIS LONG-TERM DEBT REQUIREMENTS SPECIAL SERVICE AREA #5 BOND SERIES OF 1985 DECEMBER 31~ 1985 Issue April 15, 1985 Maturity April 15, 2001 Issue $48,000 Rate 9.3% and Interest Dates April 15 and October 15 Glenview State Bank CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS Tax Fiscal Levy Tax Levy Year Year Principal Interest Total 1986 1985 $ 767 $ 4,464 $ 5,231' 1987 1986 1,643 4,356 5,999 1988 1987 1,799 4,199 5998 1989 1988 1,970 4,028 5,998 1990 1989 2,158 3,840 5,998 2,363 3,635 5,998 1991 1990 1992 1991 2,588 3,410 5,998 1993 1992 2,834 3,164 5,998 1994 1993 3,104 2,894 5,998 1995 1994 3,399 2,599 5,998 i996 1995 3,723 2,275 5,998 1997 1996 4,077 1,921 5,998 1998 1997 4,465 1,533 5,998 1999 1998 4,890 1,108 5,998 2000 1999 5,355 643 5,998 2001 2000 2,865 133 2,998 $48,000 $44,202 $92,202 provided by sources other than a tax levy. Statistical Section VILLAGE OF GLENVIEW, ILLINOIS PROPERTY TAX ASSESSED VALUATIONS, RATES, EXTENSIONS AND COLLECTIONS LAST TEN FISCAL YEARS DECEMBER 31, 1985 (See Following Page) I 115 116 VILLAGE OF GLENVIEW, ILLINOIS ASSESSED AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY LAST TEN FISCAL YEARS DECEMBER 31, 1985 Ratio of Total Assessed Value to Tax Levy Assessed Estimated Actual Total Estimated Year Value Value Actual Value 1976 $182,975,478 $ 548,926,434 .333 1977 182,563,625 547,690,875 .333 1978 193,300,215 579,900,645 .333 1979 194,119,692 582,359,076 .333 1980 277,722,776 833,168,328 .333 1981 315,554,627 946,663,881 .333 1982 346,375,770 1,039,127,310 .333 1983 341,528,355 1,025,610,675 .333 1984 403,312,241 1,210,086,171 .333 1985 (1) 425,000,000 1,276,000,000 .333 Data Source office of the County Clerk (1) Estimated by the Village of Glenview Finance Department I 117 I 118 VILLAGE OF GLENVIEW, ILLINOIS SPECIAL ASSESS~NT COLLECTIONS LAST TEN FISCAL YEARS DECEMBER 31, 1985 Current Total Fiscal Assessments Outstanding Year Collected Assessments 1977 $16,045 $44,438 1978 12,452 31,986 1979 12,492 19,494 1979 3,649 15,845 1980 2,924 12,921 1981 3,649 9,272 1982 9,272 - 1983 - - 1984 - 1985 - - 121 VILLAGE OF GLENVIEW, ILLINOIS STATEMENT OF LEGAL DEBT MARGIN DECEMBER 31, 1985 There is no legal debt limit for home rule municipalities in Illinois. Article VII, Section 6(k) of the 1970 Illinois Constitution governs computation of of the Legal Debt Margin. "The General Assembly may limit by law the amount and require refer- endum approval of debt to be incurred by home rule municipalities, payable from ad valorem property tax receipts, only in excess of the following percentages of the assessed value of its taxable property... (2) if its population is more than 25,000 and less than 500,000 an aggregate of one per cent; ... indebtedness which is outstanding on the effective date (July 1, 1971) of this constitution or which is thereafter approved by referendum...shall not be included in the foregoing percentage amounts." To date the General Assembly has set no limits for home rule municipalities. 123 VILLAGE OF GLENVIEW, ILLINOIS STATEMENT OF REVENUE BOND COVERAGE LAST TEN FISCAL YEARS DECEMBER 31~ 1985 WATERWORKS AND SEWERAGE FUND - EAST (i) Direct Net Kevenue (2) Fiscal Operating Operating Available for Debt Service Re~ulrements Year Revenues Expenses Debt Service Frincipal Interest Total Coverage 1977 $1~143,916 $ 958,618 $ 185,298 $ 70,000 $46,478 $116,478 1.59 1,152,232 1,127,360 24,872 45,000 39,765 84,765 .29 1978 1979 1,156,814 1,043,266 113,548 90,000 34,370 124,370 .85 1979 776,744 798,449 (21,705) 40,000 58,722 98,722 - 1980 1,603,601 1,357,730 245,871 90,000 30,093 120,093 2.04 1981 1,123,909 1,023,462 100,447 95,000 26,590 121,590 .83 1982 1,272,393 1,523,555 (251,162) 105,000 22,735 127,735 1983 1,459,941 1,418,467 41,474 105,000 18,565 123,565 .33 1984 1,710,235 1,514,460 195,775 350,000 31,854 381,854 .52 1985 1,995,056 1,586,132 408,924 50,000 2,450 52,450 7.80 WATERWORKS AND SEWERAGE FUND - WEST (1) Direct Net Revenue (3) (2) Fiscal Operating Operating Available for Debt Service Requirements Year Revenues Expenses Debt Service Principal Interest Total Coverage 1977 - 1979 $1,273,405 $ 498,598 $ 774,807 $150,000 $234,875 $384,875 2.01 1979 961,991 597,372 364,619 150,000 225,875 375,875 .97 1980 1,790,601 927,772 862,829 250,000 614,812 864,812 1.00 1981 1,795,742 947,367 848,375 325,000 612,088 937,088 1.01 1982 1,715,495 1,135,978 579,517 350,000 576,180 926,180 .63 1983 1,920,972 1,036,293 884,679 350,000 552,562 902,562 .98 1984 2,056,573 1,028,158 1,028,415 375,000 529,578 904,578 1.14 1985 2,207,923 1,032,363 1,175,560 400,000 504,068 904,068 1.30 (1) Operating revenues minus direct operating (2) Net revenue available for debt service divided by total debt requirements. (3) The Village has booked General Obligation Issues on the Waterworks and Sewerage Fund West Balance Sheet. These Bomds have been included im the schedule to illustrate coverage. 124 I VILLAGE OF GLENVIEW, ILLINOIS m DEMOGRAPHIC STATISTICS LAST TEN FISCAL YEARS I DECEMBER 31, 1985 (1) I Education (1) Level In (2) Per (i) Years of School (3) Fiscal (1) Capita Median Formal Enroll- Unemploy- { Year Population Income A~e Schooling merit ment 1976 30,853 9,758 30.3 15.0 3,723 3.4 I 1977 31,154 10,544 30.3 15.1 3,472 3.6 1978 31,455 11,387 30.7 15.1 3,269 3.6 1979 31,756 12,298 31.5 15.2 3,144 3.3 I 1980 32,060 13,832 33.5 15.3 3,003 2.5 1981 32,200 14,113 33.5 15.3 2,916 5.5 1982 33,131 14,785 33.1 15.1 2,797 4.9 1983 33,131 15,450 33.3 15.3 2,762 5.1 { 1984 34,996 15,856 33.8 15.6 2,751 6.0 1985 35,525 18,632 33.8 15.6 2,666 5.4 m Data Sources ! (1) U.S. Department of Cormnerce, Bureau of the Census, 1980 date based on the I actual count; other years estimated by the Glenview Planning Department. (2) Glenview School District #34 actual count, as of April 1986. I (3) Illinois Department of Labor, Research Division. Figures for 1975 to 1982 are actual; other years estimated from statewide averages. I m m 125 I 127 VILLAGE OF GLENVIEW, ILLINOIS MISCELLANEOUS STATISTICS DECEMBER 31, 1985 Date of Incorporation June 20, 1899 Form of Government Council-Manager Geographical Location 20 Miles North of Chicago Area 10.9 Square Miles Population 1950 6,142 1960 18,132 1963 22,364 1970 24,880 1975 30,552 1980 32,060 1984 34,996 1985 (1) 35,525 Number of Total Housing Units (1980 Census) 10,997 Number of Total Housing Units (1985 Planning Department Estimate) 11,719 Median Value Owner occupied Noncondominium Housing Units $111,900 Distribution of Owner - Occupied Noncondominium Housing Units Value by Unit Value by Range (2) Unit Distribution Number Percent Less than $ 10,000 3 .04% $ 10,000 to $ 14,999 7 .10 $ 15,000 to $ 19,999 4 .06 $ 20,000 to $ 24,999 1 .01 $ 25,000 to $ 29,999 7 .10 $ 30,000 to $ 34,999 9 .12 $ 35,000 to $ 39,999 14 .19 $ 40,000 to $ 49,999 65 .90 $ 50,000 to $ 79,999 1,232 16.96 $ 80,000 to $ 99,999 1,686 23.24 $100,000 to $149,000 2,525 34.80 $150,000 to $199,999 1,149 15.84 $200,000 or more 554 7.64 7,256 100.00% (1) Estimated by Village of Glenview Planning Department (2) The above information from the 1980 census. 128 VILLAGE OF GLENVIEW, ILLINOIS MISCELLANEOUS STATISTICS DECEMBER 31, 1985 Fire Protection Number of Firemen 39 N~mber of Stat ions 1 Number of Hydrants 1,320 I. S. O. Rating Class 3 Police Protection Number of Policemen 55 Number of School Crossing Guards 19 Number of Stations 1 Library Services Number of Libraries 1 Number of Books and Other Materials 137,694 Number of Registered Borrowers 23,294 1985 Book Circulation 285,925 Recreation Facilities Numbers 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 Waterworks and Sewerage and Sewerage Fund - East Fund - West Number of sewer customers served during fiscal year 6,666 2,618 Total Number of metered water customers at December 31, 1985 7,247 4,879 Number of unmetered water customers at December 31, 1985 None None Gallons of water purchased during fiscal year 1,236,153,000 738,992,000 Gallons of water billed during fiscal year 1,034,970,000 754,746,000 Water Storage Capacity Ground Storage 8,500,000 Gallons Elevated Storage 1,000,000 Gallons 129 VILLAGE OF GLENVIEW, ILLINOIS MUNICIPAL SERVICES AND FACILITIES DECEMBER 31, 1985 Number of Full Time Employees (on December 31, 1985) 192 Miles of Streets (Maintained by Glenview) 86 Miles of Streets (Maintained by Cook Co. & State of Illinois) 22 Miles of Alleys 2.2 Miles of Sewers (Sanitary Sewer) 85 Miles of Sewers (Storm Sewer) 74 N~aber of Village owned Street Lights 66 Building Activity Number of Permits Issued in 1985 855 Value of Construction Authorized in 1985 $29,918,233 131 VILLAGE OF GLENVIEW, ILLINOIS SALARIES AND SURETY BONDS OF PRINCIPAL OFFICIALS DECEMBER 31, 1985 Annual Amount of Salary Surety Bond Village President $ 1,200 $250 000 Village Trustees 300 250 000 Village Treasurer - 250 000 Village Manager 64,258 250 000 Village Clerk 900 250 000 Finance Director 49,300 250 000 Purchasing Agent 30,216 250 000 Accountant 27,444 250 000 Assistant Village Manager 38,300 250 000 Assistant to the Village Manager 29,316 250 000 Police Chief 48,000 250 000 Deputy Police Chief 42,540 250 000 Police Commander 39,480 250 000 Fire Marshal 44,000 250 000 Administrative Assistant to the Fire Marshal 40,368 250 000 Fire Captain 40,368 250 000 Director of Development 45,000 250 000 Assistant to Director of Development 32,768 250 000 Engineering Administrator 43,872 250000 Public Works Superintendent 39,972 250 000 Director of Building and Zoning 43,872 250000 Water Distribution Superintendent 39,972 25000O Head Librarian 46,500 250,000 Public Works Director 40,000 250,000