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Home My Public Portal About1989 Comprehensive Annual Financial Report I I I I I I I I I I I I I I I I I I I COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED DECEMBER 31, 1989 PREPARED BY DENNIS M. LAUER DIRECTOR OF FINANCE VillAGE OF GlENVIEW IlliNOIS I I I I I I, I Ii I I I I I I I r I ,I I VILLAGE OF GLENVIEW, ILLINOIS COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED DECEMBER 31, 1989 Prepared by Dennis M. Lauer, Director of Finance I I I I I I I I I I I I I I I f , f r TABLE OF CONTENTS PAGE INTRODUCTORY SECTION Principal Officials i Organization Chart 11 Village Manager's Letter of Transmittal 111-1V Director of Finance's Letter of Transmittal V-X1 Certificate of Achievement for Excellence in Financial Reporting X11 FINANCIAL SECTION INDEPENDENT AUDITOR'S REPORT 1-2 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, and Debt Service 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 - All Proprietary and Fiduciary (Pension Trust) Fund Types 7 Notes to the Financial Statements 8-47 COMBINING, INDIVIDUAL FUND, AND ACCOUNT GROUP STATEMENTS AND SCHEDULES GOVERNMENTAL FUND TYPES GENERAL FUND CORPORATE FUND Financial Statements Balance Sheet Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 48 49 I I I I I I I I I I Introductory Section I I I I I I I I I I I I I I I I I I I I I I I I I I I I VILLAGE OF GLENVIEW, IlliNOIS PRINCIPAL OFFICIALS DECEMBER 31.1989 .LEGISLATIVE VILLAGE BOARD OF TRUSTEES James W. Slnltles, Village President Ralph D. Lynch Kent B. Fuller Lowell Seon Well Nancy Flrfer Charles K. Esler Robert E. Browne Paul 1. McCarthy, Village Clerk ~ Paul 1. McCarthy, Village Manager Dennis M. Lauer, Director of Finance Mary L. Reibel, Assistant Director of Finance 1 I I I I I I I I I I I I I I I I I I I CV4~ ~ ~E~V~WV,~~O~ ORGANIZATIONAL CHART ~ ELECTORATE I I I I VILLAGE CLERK VILLAGE PRESIDENT BOARD OF TRUSTEES . MEMBERS 4 YR. TERM 4 YR. TERM 4 VA.TERM I I I I I I CABLE HEALTH VILLAGE VILLAGE NORTAAN COMMISSION TRUSTEE OFFICER MANAGER ATTORNEY TRUSTEE I I I I I I DI~ECTOR OF POLICE FIRE DIRECTOR OF DIRECTOR OF DIRECTOR OF DEVELOPMENT CHIEF CHIEF FINANCE PERSONNEL PUBLIC WORKS 10ARDS AND COMMISSIONS APPOINTED BY THE PRESIDENT AND BOARD OF TRUSTEES PLAN COMMISSION APPEARANCE COMMISSION SENIOR CITIZEN COMMISSION POLICE AND FIRE COMMISSION ftOLICE PENSION BOARD FIRE PENSION IOARD ZONING BOARD OF APPEALS ELECTRICAL COMMISSION FORESTRY COMMISSION ii I I I I I I I I I I I I I I I I I I I cijJ4te ~J LEnVIEW - ._~~~,~.t.iJaii,,""'~". ., ~iftllDlllBt'l!l TELEPHONE 708-72.4-1700 FAX 708-724-0916 1225 WAUKEGAN ROAD GLENVIEW,ILUNOIS 60025-3071 March 15, 1990 Honorable President and Members of the Board of Trustees Village of Glenview Gentlemenl 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, 1989 and for the fiscal year then ended. Responsibility for both the accuracy of the presented data and the completeness and fairness of the presentation, in- cluding all disclosures, rest with the Village. Management believes that the data, as presented, is accurate in all material aspects; that it is presented in a manner designed to fairly set forth the financial position and results of operations of the Village as measured by the financial activity of the various funds. Disclosures necessary to enable the reader to gain maxi- mum understanding of the Village's financial affairs have also been included. In developing and evaluating the Village's accounting system, consideration is given to the adequacy of internal accounting controls. Internal accounting controls are discussed by the Director of Finance in his accompanying letter of transmittal, and within that framework, I believe that the Village's internal accounting controls adequately safeguard assets and provide reasonable assurance of proper recording of financial transac- tions. This report has been prepared following the guidelines recom- mended by the Government Finance Officers Association of the United States and Canada. The Government Finance Officers As- sociation awards Certificates of Achievement to those governments whose comprehensive annual financial reports are judged to con- form substantially with high standards of public reporting in- cluding generally accepted accounting principles promulgated by the Government Accounting Standards Board. It is my belief that the accompanying financial report meets the program standards and it will be submitted to the Government Finance Officers Associa- tion for review. The Village of Glenview has held a certificate for the last seven consecutive fiscal years. iii I I I I I I I I I I I I I I I I I I I CV4~ ~ ~E~v~,"L~~ In accordance with the above mentioned guidelines, the accompany- ing report consists of three partsl 1. Introductory section, a letter of transmittal from the Direc- tor of Finance. 2. Financial section, including the financial statements and supplemental data of the government accompanies by our independ- ent auditor's opinion. 3. Statistical section, including a number of tables of un- audited data depicting the financial history of the Village for the past ten years, information on overlapping governments, and demographic and other miscellaneous information. State law required that the financial statements of the Village of Glenview be audited by a certified public accountant selected by the Board. This requirement has been complied with, and our auditor's opinion is included in the financial section of this report. Of concern to the Village of Glenview, as well as all sectors of the economy, is the impact of inflation on our budget. Presently our revenues are strong in all areas with the possible exception of the water funds. A water rate study was undertaken in early 1989 to determine what action, if any, is necessary to strengthen the financial conditions of the water funds. Revenue projections must be monitored constantly to provide the Board ad- vance notice in the event the revenue patterns change. The director of Finance is entrusted with the responsibility of evaluation and reporting on the financial condition of the Vil- lage. The preparation of this annual financial report could not have been accomplished without the dedicated effort of Dennis Lauer and his entire staff. Their efforts over the past year maintain- ing the accounting and financial reporting systems of the Village of Glenview have continued to improve the quality of the informa- tion being reported to the Board of Trustees, state oversight boards, and the citizens of Glenview. Respectfully SUbm.~it.ted' {//~~~~ / Paul T. McCarthy Village Manager iv I I I I I I I I I I I I I I I I I I I czJ4 ~/ LEnVIEW __. _ c~;r!lMR~~~~';:'''Df1I~:IlIIIMnl 1225 WAUKEGAN ROAD GLENVlEW,ILUNOIS 60025-3071 _. llf"..-. -J7I!lDW11!111,_J'-'~ an 11 ..,....... i1~^..iiiit;;Wj~.~:...., ..:t;;l~_,,_,,! TELEPHONE 708-724-1700 FAX 708-724-0916 March 15, 1990 Mr. Paul T. McCarthy, Village Manager Village of Glenview Glenview, Illinois 60025 Dear Hr. McCarthy: The Comprehensive Annual Financial Report of the Village of Glenview for the fiscal year ended December 31, 1989 is hereby submitted. Responsibility for both the accuracy of the date and the complete- ness and fairness of the presentation, including all disclosures, rests with the Village. To the best of our knowledge and belief, the enclosed data is accurate in all material respects and are reported in a manner designed to present fairly the financial posi- tion and results of operations of the various funds and account groups of the Village. All disclosures necessary to enable the reader to gain an understanding of the Village's financial ac- tivities have been included. The Comprehensive Annual Financial Report is presented in three sec- tions: Introductory, Financial, and Statistical. The Introductory section includes the Village Manager's transmittal letter, this transmittal letter, the Village's organizational chart, and a list of principal officials. The Financial section includes the general purpose financial statements, the combining individual fund and ac- count group financial statements and schedules, as well as, the in- dependent auditors' report on the financial statements and schedules. The Statistical section includes selected financial and demographic information, generally presented on a multi-year basis. This report includes all funds and account groups of the Village of Glenview. The Village provides a full range of services. These services include police and fire protection, public services, the construction and maintenance of streets, roads, and infrastructure, recreational acti vi ties, and cultural events. In addition to general Village activities, the Village Board exercises, or has the ability to exercise, oversight of the Police and Firemen's Retire- ment System~ therefore, these activities are included in the report- ing entity. However the Glenview Park District, the Glenbrook Fire Protection District, the Intergovernmental Personal Benefit Cooperative (IPBC), the High-Level Excess Liability Pool (HELP), and the Solid Waste Agency of Northern Cook County (SWANCC) have not met established criteria for inclusion in the reporting entity, and accordingly are excluded from this report. v I I I I I I I I I I I I I I I I I I I CV4~ ~ ~E~V~WV,~~O~ ECONOMIC CONDITION AND OUTLOOK The Village is continuing in a period of rapid growth. Annexations and new construction both contribute to an expanding tax base. As a result, the Village should be able to continue with its policy of keeping the tax rate as near to sixty-five cents as possible. While at the same time realize increases in the real estate tax collec- tions. Over the last several years the largest source of revenue to the Corporate Fund has been sales tax. During that period of time, automobile sales have accounted for just over forty percent. One more automobile dealership is planned for 1990. When operational, it will make a significant impact on the Village's sales tax revenue. Hotel room tax is the Village's newest source of revenue. Several years ago the Village Board imposed a five percent tax. At that time, there were only two small moderately priced hotels in the Vil- lage and the revenue from this source was minor. However, in 1988 the Radisson Suite Hotel opened with two hundred fifty rooms. In mid-1989 the new Marriott Hotel opened and the Holiday Inn Corpora- tion is building in Glenview with a scheduled opening in 1990. Therefore, the hotel tax will very soon become a major source of revenue to the Corporate Fund. Subsequent to the close of the fiscal year the Village was awarded a AAA bond rating by Moody's Investor Service. This prestigious rating will not only make future bond issues more attractive on the market, it will save the Village money in the long run because of lower interest rates. MAJOR INITIATIVES For The Year The Village began several large projects in 1989. The Glenview Road reconstruction project moved from the engineering stage to the bid- ding process. Construction is scheduled to begin in June of 1990. The project is expected to last two years and have a total cost of $11,400,000. Glenview's share of the. project cost will be $4,500,000. In addition, the Village budgeted for and made trans- fers to the Tree Replacement Program, Sidewalk Program, and Crack Sealing Program. During 1989 the Village formed Special Service Areas Number 9, 10, and 11; the purpose of which is to finance the cost of storm sewers and watermain projects. Bonds were sold for these ~rojects totaling $501,500 to be retired over ten years. vi I I I I I I I I I I I I I I I I I I I CV4~ ~ ~E~v!!.VL~~ For The Future In mid-1990 the Village plans to issue $4,500,000 in General Obliga- tion Bonds. The proceeds from the sale are going to finance the Village's share of the cost associated with the Glenview Road project DEPARTMENT FOCUS The Finance Department has several large projects planned for 1990. In early 1989, all of the operating departments have installed per- sonal computers. Each of these computers are equipped with word processing software and letter quality printers. It is planned to transfer word processing files on the Village's main frame computer to the various personal computers in the operating departments. The reason for the data transfer is to make additional memory available on the main frame. Glenview's investment policy was written and adopted in 1982. Sub- sequent to that date the policy has undergone one revision. In 1989 the management staff of the Finance Department reviewed the invest- ment policy and proposed revisions that were adopted in late 1989. FINANCIAL INFORMATION Management of the Village is responsible for establishing and main- taining an internal control structure designed to ensure that the assets of the Village are protected from loss, theft or misuse, and to ensure that adequate accounting data are compiled to allow for the preparation of financial statements in conformity with generally accepted accounting principles. The internal control structure is designed to provide reasonable, but not absolute, assurance that these objectives are met. The concept of reasonable assurance recognizes that. (1) the cost of a control should not exceed the benefi ts likely to be derived; and (2) the valuation of costs and benefits requires estimates and judgments by management. BUDGETING CONTROLS In addition, the Village of Glenview maintains budgetary controls. The objective of these budgetary controls is to ensure compliance with legal provisions embodied in the annual appropriated budget ap- proved by the Village's governing body. Activities of the Corporate (General) fund, Special Revenue funds, Enterprise fund, and Pension Trust funds are included in the annual appropriated budget. Project-length financial plans are adopted for the Capital Projects funds. The level of budgetary control (that is, the level at which expenditures cannot legally exceed the appropriated amount) is es- tablished at the fund level. The Village also maintains an en- cumbrance accounting system as one technique of accomplishing budgetary control. Encumbered amounts lapse at year end. However, encumbrances generally are reappropriated as a part of the following year's budget. vii I I I I I I I I I I I I I I I I I I I CV4~ ~ ~E~V!!.V,~!O~ As demonstrated by the statements and schedules included in the financial section of this report, the Village continues to meet its responsibility for sound financial management. GENERAL GOVERNMENT FUNCTIONS The following schedule presents a summary of Corporate (General) fund, Special Revenue funds, and Debt Service funds revenues for the fiscal year ended December 31, 1989, and the amount and percentage of increases and decreases in relation to prior year revenues. Increase Percent of Percent (Decrease) Increase Revenues Amount of Total from !.2.ll (Decrease) Taxes $12,187,644 75.6\ $1,766,671 17.0\ Licenses and Permits 1,137,949 7.1 130,388 12.9 Intergovernmental 681,934 4.2 97,264 16.6 Charges for Services 625,662 3.9 <151,797> <19.5> Fines and Forfeits 248,733 1.5 38,590 18.4 Interest 278,275 1.7 78,141 3.9 Miscellaneous 965.000 6.0 17.275 Total $16,125,197 100.0\ $1,976,532 13.9\ The most significant decrease in revenues, in charges for services, was due to a drop in demand for contract engineering and plan review fees. The increase in taxes was due to higher property tax, sales tax, state income tax and hotel/motel tax. The following schedule presents a summary of Corporate (General) fund, Special Revenue funds, and Debt Service funds expenditures for the fiscal year ended December 31, 1989, and the percentage of in- creases and decreases in relation to prior year amounts. Increase Percent of Percent (Decrease) Increase Expenditures Amount of Total from 1988 (Decrease) Current General Government $2,641,381 18.4\ $75,877 3.0\ Public Safety 5,705,144 39.7 79,844 1.4 Highways and Streets 2,403,559 16.7 61,149 2.6 Pension 1,318,168 9.2 204,877 18.4 Culture and Recreation 1,332,904 9.2 131,840 11. 0 Debt Service Principal Retirement 525,000 3.6 50,000 10.5 Interest & Fiscal Charges 450.916 3.2 163.211 Total $14,377,072 100.0\ $766,798 5.6\ viii I I I I I I I I I I I I I I I I I I I CV4~ ~ ~~v~wvL~o~ The significant increase in pensions was due to higher IMRF expendi- tures. The increase in interest charges was due to the 1989 8,000,000 bond issue. CORPORATE FUND BALANCE The fund balance of the Corporate Fund increased by 59 percent in 1989. The $1,612,506 increase provides the Village with a fund balance that is the equivalent to 100 working days of expenditures. Village policy is to maintain approximately 90 days of working capi- tal in reserve. Included in the increase in the fund balance is $271,500 of an income tax surcharge that has not been appropriated as of the end of the year. ENTERPRISE OPERATIONS The Village's enterprise operations are comprised of four separate and distinct activities I Water Fund East serving the incorporated areas of Glenview, Water Fund West mainly serving the unincor- porated areas, The Sewerage Fund and the Commuter Parking Fund. The combined increase in retained earnings for all enterprise funds was $1,082,305., 11\ above the balance in 1988. PENSION TRUST FUND OPERATIONS The operations of the Police and Firemen's Pension Funds remained relatively stable in 1989. The revenue increase of 11 percent was attributable primarily to profits taken in the pension portfolio. The annual actuarial valuation continues to reflect a positive trend in the Village's and employees' funding of the PERS. DEBT ADMINISTRATION At December 31, 1989, the Village had a number of debt issues out- standing. These issues are all general obligation bonds. The Vil- lage has received a AAA from Moody's Investors Service on general obligation bond issues. Under current state statutes, the Village's general obligation bonded debt issuances are not subject to a legal limitation based on the Village's Home Rule powers. CASH MANAGEMENT Cash temporarily idle during the year was invested in demand deposits, certificates of deposit, and obligations of the U.S. Treasury. The Pension Trust Fund's investment portfolio includes mainly zero coupon bonds. The average yield on investments, includ- ing the Pension Trust Fund, was 7.9 percent. The Pension Trust Fund achieved a yield rate of 8.45 percent for this same period. This higher rate of return on pension fund investments is attributable to the long-term nature of most holdings in its portfolio. The Village's investment policy is to minimize credit and market risks while maintaining a coapetitive yield on its portfolio. Ac- cordingly, deposits were either insured by federal depository in- ix I I I I I I I I I I I I I I I I I I I CV4~ ~ ~E~V!!.V'~L~~ surance or collateralized. All collateral on deposits was held by a financial institution acting as a third party trust agent. All in- vestments held by the Village during the year, and at December 31, 1989, are classified in the category of lowest credit risk, as defined by the Governmental Accounting Standards Board. RISK MANAGEMENT The Village of Glenview is involved in two self-insurance pools. The first pool, Intergovernmental Personnel Benefi t Cooperative (IPBC), is an organization of twenty-four communities. This or- ganization provides health coverage and life insurance for a portion of Village employees. Participation in the IPBC is optional; employees may also choose to participate in" either of two HHO plans. The Village has been a member of this pool since its formation in 1980. Glenview is also a member of the High-Level Excess Liability Pool (HELP). This pool is made up of fourteen villages. The purpose of the pool is to provide excess liability protection for its members. Presently the pool provides five million dollars of insurance. The lower limit required insurance is one million. Membership in HELP is a ten year commitment. Beginning May 1, 1990 the pool will begin its fourth year of operation. INDEPENDENT AUDIT State statutes require an annual audit by independent certified public accountants. The accounting firm of Karrison, Byrne, Jansey and Trimarco, Ltd. CPA's was selected by the Village Board. The auditor's report on the general purpose financial statements, the combining and individual fund statements and schedules is included in the financial section of this report. AWARDS The Government Finance Officers Association (GFOA) awarded a Cer- tificate of Achievement for Excellence in Financial Reporting to the Village of Glenview for its Comprehensive Annual Financial Report for the fiscal year ended December 31, 1988. This was the seventh consecutive year that the Village has received this prestigious award. In order to be awarded a Certificate of Achievement, the Village published an easily readable and efficiently organized Com- prehensive Annual Financial Report. This report satisfied both generally accepted accounting principles and applicable legal re- quirements. A Certificate of Achievement is valid for a period of one year only. We believe that our current Comprehensive Annual Financial Report continues to meet the Certificate of Achievement Program's require- ments, and we are submi tting it to the GFOA to determine its eligibility for another certificate. x I I I I I I I I I I I I I I I I I I I CV4~ ~ ~E~V~V'~L~~ ACKNOWLEDGMENTS The preparation of the Comprehensive Annual Financial Report on a timely basis was made possible the the dedicated service of the en- tire staff of the Finance Department. Each member of the department has my sincere appreciation for the contributions made in the preparation of this report. In closing, without the leadership and support of the President and Board of Trustees, preparation of this report would not have been possible. n:::;d: Dennis M. Lauer Director of Finance xi I I I I I I I I I I I I I I I I I I I Certificate of Achievement for Excellence in Financial Reporting Presented to Village of Glenview, Illin ois For its Comprehensive Annual Financial Report for the Fiscal Year Ended December 31, 1988 A Certificate of Achievement for Excellence in Financial Reporting is presented by the Government Finance Officers Association of the United States and Canada to government units and public employee retirement systems whose comprehensive annual financial reports (CAFR's) achieve the highest standards in government accounting and financial reporting. ~ President j1fh/~ Executive Director xii I I I I I I I I I I I I I I I I I I I Financial Section I I I I I I I I I I I I I I I I I I I I<anisJ. on, Be., Ltd .... .. 750 EAST DIEHL ROAD 0 NAPERVILLE, ILLINOIS 60563. A"~ ansey & . . CO!. r · .i r-'(708) 505-1900 . . .~~=~;r;~' CERTIFIED PUBLIC ACCOUNTANTS INDEPENDENT AUDITOR'S REPORT The Honorable James W. Smirles, Village President Members of the Board of Trustees Village of Glenview, Illinois We have audited the accompanying general purpose financial statements of the Village of Glenview, Illinois, and the combining, individual fund, and account group financial statements of the Village of Glenview, Illinois, as of and for the year ended December 31, 1989, as listed in the table of contents. These financial statements are the responsibility of the Village of Glenview, Illinois' management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing stan- dards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amount.s and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the general purpose financial statements referred to above present fairly, in all material respects, the financial position of the Village of Glenview, Illinois, at December 31, 1989, and the results of its operations and the changes in financial position of its proprietary and similar trust fund types for the year then ended, in conformity with generally accepted accounting principles. Also, in our opinion, the combining, individual fund, and account group financial statements referred to above present fairly, in all material respects, the financial position of each of the individual funds and account groups of the Village of Glenview, Illinois, at December 31, 1989, and the results of operations of such funds and the changes in financial position of individual proprietary and similar trust funds for the year then ended, in conformity with generally accepted accounting principles. I I I I I I I I I I I I I I I I I I I 2 Our audit was made for the purpose of forming an opinion on the general purpose financial statements taken as a whole and on the combining, individual fund, and account group financial statements. The accompanying financial information I isted as supplemental and schedules in the table of contents is presented for purposes of additional analysis and is not a required part of the financial statements of the Village of Glenview, Illinois. The information has been subjected to the auditing procedures applied in the audit of the general purpose, combining, individual fund, and account group financial statements and, in our opinion, is fairly stated in all material respects in relation to the financial statements of each of the respective individual funds and account groups, taken as a whole. The statistical information listed in the table of contents was not audited by us and, accordingly, we do not express an opinion thereon. K~0"~,e('-ht. Karrison, Byrne, Jansey & Trimarco, Ltd. February 28, 1990 I I I I I I I I I I I I i I I I I I I COMBINED STATEMENTS - OVERVIEW I: I , I I I I I: I I I , I , I , I I I VILLAGE OF GLENVIEW, ILLINOIS ALL FUND TYPES AND ACCOUNT GROUPS COMBINED BALANCE SHEET DECEMBER 31, 1989 (See Following Page) ~~I 8.... ~ ~ "'] ~ " J~I 'iil~.. "~~ ~ ~ !3 t:l .. J]!JI U~~ en ~~ ~~ !~ I~ ~" ~~ II ~~ 8 ~ l~ ~.,:s~ .. Cll .... Z2 ., ~ ~JI ~ .... '" In .~ JI ~ 'iil" j~ JI ~ '" ..; '" 00. 00 fj:j. 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S o u U '" QJ Jl VILLAGE OF GLENVIEW, ILLINOIS ALL PROPRIETARY AND FIDUCIARY (PENSION TRUST) FUND TYPES COMBINED STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS/FUND BALANCES FOR THE YEAR ENDED DECEMBER 31, 1989 Fiduc iary Proprietary Fund Types Fund Types Totals Internal Pension (Memorandum Only) Enterprise Service Trust 1989 1988 Operating Revenues Taxe s $ 221,080 $ 221,080 $ 760,079 Charges for Services $ 5,918,693 $1,851,583 7,770,276 6,250,502 Contributions 330,280 330,280 308,676 Interest 1,342,151 1,342,151 1,149,034 Miscellaneous 68,478 127,294 611 ,257 807,029 350,632 Total Operating Revenues 5,987,171 1,978,877 2,504,768 10,470,816 8,818,923 Operating Expenses Administration 855,597 855,597 735,744 Operations 3,051,787 1,749,708 4,801,495 3,181,000 Depreciation 353,191 353,191 351,895 Pensions and Refunds 506,849 506,849 424,252 Miscellaneous 8,085 8,085 134,341 Total Operating Expenses 4,260,575 1,749,708 514,934 6,525,217 4,827,232 Operating Income 1,726,596 229,169 1,989,834 3,945,599 3,991,691 Nonoperating Revenues (Expense s) Interest Income 81,618 25,166 106,784 31,041 Net Income - HELP Joint Venture 72 , 000 72,000 44,838 Interest Expense and Fiscal Charges (405,995) (405,995) (439,039) (324,377 ) 97,166 (227,211) (363,160) Income before Operating Transfers 1,402,219 326,335 1,989,834 3,718,388 3,628,531 Operating Transfers In 75,000 37,759 112,759 161,372 Operating Transfers (Out) (394,914) (394,914) (425,259) (319,914) 37,759 (282,155) (263,887) Net Income 1,082,305 326,335 2,027,593 3,436,233 3,364,644 Retained Earnings/Fund Balances January 1 9,154,594 370,008 16,709,967 26,234,569 23,073,623 Prior Period Adjustments (15,468) (15,468) (174,079) Adjusted Balances 9,154,594 370,008 16,694,499 26,219,101 22,899,544 Residual Equity Transfer (Out) (29,619) 9,154,594 370,008 16,694,499 26,219,101 22,869,925 December 31 $10,236,899 $ 696,343 $18,722,092 $29,655,334 $26,234,569 6 I , I ,I 1 I I , I " I I ' ' I I I , l I t-, I I I I il Ii I I; I I I 'II I I I r I I I, I, I 7 VIlLAGE OF GIENIlIEW, ll.LINOIS AIL PROPRIErARY AND FIDUCIARY (PENSION TRUST) FUND 1YPES CCMBINED S'l'ATEl1ENl' OF ClWl;ES IN FINANCIAL roSITION FOR THE YEAR ENDED DECEMBER 31, 1989 Fiduciary Proprietary Fund Types Fund Types Totals Internal Pension (MatDrandun Oll y) Enterprise Service Trust 1989 1988 Cash Was PrOlTided By Operat ions Net IncOOE $1,106,343 $355,753 $ 2,027,593 $ 3,489,689 $ 3,281,277 Add Back Non-cash Expense Depreciation 352,834 352,834 351,538 1,459,177 355,753 2,027,593 3,842,523 3,632,815 Decrease in Current Assets 253,145 2,900 533,768 789,893 806,373 Increase in Current Liabilities 246,842 8,398 2,750 257,990 34,962 Prior Period Adjus~nt 148 ,533 Residual Equity Transfer In 2,361 1,959,164 367,131 2,564,111 4,890,406 4,625,~ Cash Was Used To Furrl Operations Net Loss 24,0:E 29,418 53,456 48,482 Add Back Non-Cash Expense Depreciation 357 357 357 23,681 29,418 53,009 48,125 Increase Current Assets 163,936 207,944 371,800 171,728 Increase Fixed Assets fA4,729 fA4 ,729 998 ,602 Decrease Current Liabilities 55,579 17 ,029 7,563 8O,171 456,031 Retire Bond principal 583,066 583,066 529,760 Furrl Prior Period Adjust:lrents 15,468 15 ,468 322,612 Fund Residual Equity Transfer Out 29,619 1,470,991 254,391 23,031 1,748,413 2,556,477 Net Increase 488,173 112,740 2 ,541 ,080 3 ,141 ,993 2,068,56 7 Cash and Inves~nts January I 866,888 256,820 15,996,729 17,120,437 15,051,870 Decenber 31 $1,355,061 $369,560 $18,537,809 $20,262,430 $17,120,437 See accompanying Notes to the Financial Statenents. VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 1. Summary of Significant Accounting Policie s The financial statements of the Village of Glenview, Illinois (government), have been prepared in conformity with generally accepted accounting principles (GAAP) as applied to government units. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for establishing govern- mental accounting and financial reporting principles. The more significant of the government's accounting policies are described below. A. Reporting Entity In evaluating how to define the government, for financial reporting purposes, management has considered all potential component units. The decision to include a potential component unit in the reporting entity was made by applying the criteria set forth in GAAP. The basic -- but not the only -- criterion for including a potential component unit within the reporting entity is the governing body's ability to exercise oversight responsibility. The most significant manifestation of this ability is financial interdependency. Other manifestations of the ability to exercise oversight responsibility include, but are not limited to, the selection of governing authority, the designation of management, the abil i ty to significantly influence operations, and accountability for fiscal matters. A second criterion used in evaluating potential component units is the scope of public service. Application of this criterion involves considering whether the activity benefits the government and/or its citizens, or whether the activity is conducted within the geographic boundaries of the government and is generally available to its citizens. A third criterion used to evaluate potential component units for inclusion or exlusion from the reporting entity is the existence of special financing relationships, regardless of whether the government is able to exercise oversight responsibilities. Based upon the application of these criteria, the following is a brief review of each potential component unit addressed in defining the government's reporting entity. Included within the Reporting Entity: Police Pension Employees Retirement System The government's police employees participate in the Police Pension Employees Retirement System (PPERS). PPERS functions for the benefit of these employees and is governed by a five-member pension board. Two members appointed by the government's President, one elected pension beneficiary, and two elected police employees constitute the pension board. The government and PPERS participants are obligated to fund all PPERS costs based upon actuarial valuations. The state of Illinois is authorized to establish benefit levels and the government is authorized to approve the actuarial assumptions used in the determination of contribution levels. 8 I I I I I I I I I I I I I t I , I' I I I I \Ii I 1. I I 1 ,Ii I I ,I I Ii I I I t I! I 9 VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 Summary of Significant Accounting Policies (Cont.) Included within the Reporting Entity (Cont.): A. Reporting Entity (Cont.) Firemen's Pension Employees Retirement System The government's firemen participate in the Firemen's Pension Employees Retirement System (FPERS). FPERS functions for the benefit of these employees and is governed by a nine-member pension board. The government's President, Treasurer, Clerk, Attorney, and Fire Cpief, one elected pension beneficiary, and three elected fire employees constitute the pension board. The government and FPERS participants are obligated to fund all FPERS costs based upon actuarial valuat ions. The state of Illinois is authorized to establish benefit levels and the government is authorized to approve the actuarial assumptions used in the determination of contribution levels. Excluded from the Reporting Entity: Glenview Park District Glenbrook Fire Protection District These potential component units have separate elected boards and provide services to res idents, generally within the geographic boundaries of the government. These potential component units are excluded from the reporting entity because the government does not have the ability to exercise influence over their daily operations, approve budgets or provide funding. Intergovernmental Personal Benefit Cooperative (IPBC) IPBC is a cooperative established to administer personnel benefit programs for local governments. Management consists of a Board of Directors comprised of one representative from each member. The government does not exercise any control over the activities of the Agency beyond its representation on the Board of Directors. IPBC is reported as a governmental joint venture. High-Level Excess Liability Pool (HELP) HELP is a proprietary venture established for the purpose of seeking the prevention or lessening of liability claims made against its member municipalities. Management consists of a Board of Directors comprised of one representative from each member. The government does not exercise any control over the activities of the Agency beyond its representation on the Board of Directors. HELP is reported as a proprietary joint venture. VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 1. Summary of Significant Accounting Policies (Cont.) A. Reporting Entity (Cont.) Solid Waste Agency of Northern Cook County (SWANCC) SWANCC is a municipal corporation empowered to plan, finance, construct and operate a solid waste disposal system to serve its member municipalities. Management consists of a Board of Directors comprised of one appointed representative from each member. The government does not exercise any control over the activities of the Agency beyond its representation on the Board of Directors. SWANCC is reported as a proprietary joint venture. B. Fund Accounting The government uses funds and account groups to report on its financial position and the results of its operations. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain government functions or activities. A fund is a separate accounting entity with a self-balancing set of accounts. An account group, on the other hand, is a financial reporting device designed to provide accountability for certain assets and liabilities that are not recorded in the funds because they do not directly affect net expendable available financial resources. Funds are classified into proprietary, and fiduciary. separate "fund types". the following categories: Each category, in turn, governmental, 1S divided into Gove rnmental funds are used to account for all or mo s t of a gove rnme nt's general activities, including the collection and disbursement of earmarked monies (special revenue funds), the acquisition or construction of general fixed assets (capital projects funds), and the servicing of general long-term debt (debt service funds). The general fund is used to account for all activities of the general government not accounted for in some other fund. Proprietary funds are used to account for activities similar to those found in the private sector, where the determination of net income is necessary or useful to sound financial administration. Goods or services from such activities can be provided either to outside parties (enterprise funds) or to other departments or agencies primarily within the government (internal service funds). 101 I I I I I , \1 I I I I ,I ", I I I ;1 I 'I I, ,Ii I, I: I I Ii I I I: I I I t ,I I I, I 11 VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 1. Summary of Significant Accounting Policies (Cont.) B. Fund Accounting (Cont.) Fiduciary funds are used to account for assets held on behalf of outside parties, including other governments, or on behalf of other funds wi thin the government. When these assets are held under the terms of a formal trust agreement, either a pension trust fund, a nonexpendable trust fund, or an expendable trust fund is used. The terms "nonexpendable" and "expendable" refer to whether or not the government is under an obligation to maintain the trust principal. Agency funds generally are used to account for assets that the government holds on behalf of others as their agent. C. Basis of Accounting The accounting and financial reporting treatment applied to determined by its measurement focus. All governmental funds and t rust funds are accounted for using a current financial measurement focus. With this measurement focus, only current current liabilities generally are included on the balance sheet. statements of these funds present increases (i.e., revenues financing sources) and decreases (i.e., expenditures and other uses) in net current assets. a fund is expendable resources assets and Operating and other financing All proprietary funds and pension trust funds are accounted for on a flow of economic resources measurement focus. With this measurement focus, all assets and all liabilities associated with the operation of these funds are included on the balance sheet. Fund equity (Le., net total assets) is segregated into contributed capital and retained earnings components. Proprietary fund-type operat ing statements present increases (e. g. , revenues) and decreases (e.g., expenses) in net total assets. The modified accrual basis of accounting is used by all governmental fund types, expendable trust funds, and agency funds. Under the modified accrual basis of accounting, revenues are recognized when susceptible to accrual (Le., when they become both measurable and available). "Measurable" means the amount of the transact ion can be determined and "available" means collectible within the current period. The government recognizes property taxes when they become both measurable and available in accordance with GASB Codification Section P70. A one-year availability period is used for revenue recognition for all other governmental fund revenues. Expenditures are recorded when the related fund liability is incurred. Principal and interest on general long-term debt are recorded as fund liabilities when due or when amounts have been accumulated in the debt service fund for payments to be made early in the following year. VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31,. 1989 12 I I \1; I 1. Summary of Significant Accounting Policies (Cant.) C. Basis of Accounting (Cont.) I Those revenues susceptible to accrual are property taxes, franchise taxes, i I icenses, interest revenue, and charges for services. Sales and income taxes collected and held by the state at year end on behalf of the government also are recognized as revenue. Fines and permits revenues are not susceptible to accrual because generally they are not measurable until '1 received in cash. The accrual basis of account ing is utilized by proprietary fund types and ."....., pension trust funds. Under this method, revenues are recorded when earned and expenses are recorded at the time liabilities are incurred. The government reports deferred revenue on its combined balance sheet. Deferred revenues arise when a potential revenue does not meet both the "measurable" and "available" criteria for recognition in the current period. Deferred revenues also arise when resources are received by the government before it has a legal claim to them, as when grant monies are received prior to the incurrence of qualifying expenditures. In sUbsequent periods, when both revenue recognition criteria are met, or when the government has a legal claim to the resources, the liability for deferred revenue 1S removed from the combined balance sheet and revenue is recognized. D. Budgets Budgets are adopted on a basis consistent with generally accepted accounting principles. Annual appropriated budgets are adopted for the general, special revenue and debt service funds on the modi fied accrual basis; enterprise, internal service, Municipal Equipment Repair Fund, and pension trust funds on the accrual basis. All annual appropriations lapse at fiscal year end. The following funds are budgeted for zero activity: Federal Revenue Sharing Fund, Motor Fuel Tax Fund, the Refuse and Recycling Fund and the Library Bond Series of 1989. Encumbrances represent commitments related to unperformed contracts for goods or services. Encumbrance accounting -- under which purchase orders, contracts and other commitments for the expenditure of resources are recorded to reserve that portion of the applicable appropriation -- is utilized in the governmental funds. Material encumbrances outstanding at year end, if any, are reported as reservations of fund balances and do not constitute expenditures or liabilities because the commitments will be honored during the subsequent year. I I I I ,I t t I I I I I I I I 1 I, I I -I I I I I I I: , ,I I I 13 VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 I. Summary of Significant Accounting Policies (Cont.) E. Investments Investments are stated at cost or amortized cost subject to adjustments for market declines judged to be other than temporary (Lower of cost or market) except for investments in the deferred compensation agency fund which are reported at market value. F. Short-term Interfund Receivables/Payables During the course of operations, numerous transactions occur individual funds for goods provided or serv1ces rendered. receivables and payables are classified as "due from other funds" to other funds" on the balance sheet. Short-term interfund loans, are classified as "interfund receivables/payables". be twe en These or "due if any, G. Advances to Other Funds Noncurrent portions of long-term interfund loan receivables are reported as advances and are offset equally by a fund balance reserve account which indicates that they do not constitute expendable available financial resources and therefore are not available for appropriation. H. Inventories Inventories are valued at cost, which approximates market, uS1ng the first-in/first-out (FIFO) method. 1. Prepaid Items/Expenses Payments made to vendors for services that will benefit periods beyond the date of this report are recorded as prepaid items/expenses. J. Fixed Assets General fixed assets are not capitalized 1n the funds used to acquire or construct them. Instead, capital acquis1t1on and construction are reflected as expenditures in governmental funds, and the related assets are reported in the general fixed assets account group. All purchased fixed assets are valued at cost where historical records are available and at an estimated historical cost where no historical records exist. Donated fixed assets are valued at their estimated fair market value on the date received. VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 1. Summary of Significant Accounting Policies (Cont.) J. Fixed Assets (Cont.) The costs of normal maintenance and repa1rs that do not add to the value of the asset or materially extend asset lives are not capital ized. Improvements are capitalized and depreciated over the remaining useful lives of the related fixed assets, as applicable. Public domain ("infrastructure") general fixed assets consisting of roads, bridges, curbs and gutters, streets and sidewalks, drainage systems and lighting systems are not capitalized, as these assets are immovable and of value only to the government. Assets in the general fixed assets account group are not Depreciation of fixed assets in the proprietary fund types using the straight-line method. depreciated. is computed Interest is capitalized on proprietary fund assets acquired with tax-exempt debt. The amount of interest to be capitalized is calculated by offsetting interest expense incurred from the date of the borrowing until completion of the project with interest earned on invested proceeds over the same period. K. Compensated Absences Vested or accumulated vacation leave that is expected to be liquidated with expendable available financial resources is reported as an expenditure and a fund liability of the governmental fund that wi 11 pay it. Amounts of vested or accumulated vacation leave that are not expected to be liquidated with expendable available finacial resources are reported in the general long-term debt account group. No expenditure is reported for these amounts. Vested or accumulated vacation leave of proprietary funds is recorded as an expense and liability of those funds as the benefits accrue to employees. L. Long-Term Obligations Long-term debt is recognized as a liability of a governmental fund when due, or when resources have been accumulated in the debt service fund for payment early in the following year. For other long-term obligations, only that portion expected to be financed from expendable available financial resources is reported as a fund liability of a governmental fund. The remaining portion of such obligations is reported in the general long-term debt account group. Long-term liabilities expected to be financed from proprietary fund operations are accounted for in those funds. 14 I I I I I I ~I ,I I I I I I I I I I I I I 15 I VILLAGE OF GLENVIEW, ILLINOIS I NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 I 1. Summary of Significant Accounting Policies (Cont.) M. Fund Equity Ii I Contributed capital is recorded in proprietary funds that have received capital grants or contributions from developers, customers, or other funds. Reserves represent those portions of fund equity not appropriable for expendi ture or legally segregated for a speci fic future use. Designated fund balances represent tentative plans for future use of financial resources. I I Fund Balance Unreserved - Undesignated - Debt Service Fund Municipal Building Bond Series of 1979 represents available resources for interest expenses. I N. Bond Discounts/Issuance Costs I In governmental fund types, bond discounts and 1ssuance costs are recognized in the current period. O. Interfund Transactions I Quasi-external transactions are accounted for as revenues, expenditures, or expenses. Transactions that constitute reimbursements to a fund for expendi tures/ expenses initially made from it that are properly appl icab Ie to another fund, are recorded as expenditures/expenses in the reimburs ing fund and as reductions of expenditures/expenses in the fund that is reimbursed. I I I All other inter fund transact ions, except quas i-external transact ions and reimbursements, are reported as transfers. Nonrecurring or nonroutine permanent transfers of equity are reported as residual equity transfers. All other interfund transfers are reported as operating transfers. P. Memorandum Only - Total Columns I Total columns on the general purpose financial statements are captioned "memorandum only" to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position, results of operations, or changes in financial position in conformity with generally accepted accounting principles. Neither are such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data. I 1- I I VILLAGE OF GLENVIEW, IlLINOIS NOTES 10 THE FINANCIAL STATEMENTS DECEMBER 31, 1989 3. ll:!p:>sits ani Investments (Cant.) A. ll:!p:>sits At ~ar-eni the carrying anount of the govel"rIIent's dep:>sits totaled $23,476,646, ani the bark balances totaled $24,727,398. Bark Balances C:ltegory 1 Dep:>sits cOllered by fa:leral dep:>sitory instrance, or by collateral held by the govel"rIIent, or its agent, in the gOllel"rIIent's nane. $24,727,398 C:ltegory 2 Dep:>sits cOllera:l by collateral held by the pledgi.ng financial institution's trust department, or by its agent, in the governoent' smilie. Ca tegory 3 Dep:>sits cOllera:l by collateral held by the pledgi.ng financial institution, or its trust department, or its agent but not in the gove l"rIIent 's nane, ani de- posits ~ich are minsura:l am uncol- later alized. Total Dep:>sits $24,727,398 For pension trust fmds the types of dep:>sits autrorized ani the mix of crErlit risk categories do not differ significantly fran the other fmds of the gOl7el"rIIent. B. Inves tnents The govel"rIIent's iroestments are categorized to give an iniication of the level of risk assuned by the entity at ~ar-eni. C:ltegory 1 includes iroestments that are instrErl or registerErl or for Wlich the sewrities are held by the goverrtIJ:!nt or its agent in the govel"rIIent' s nane. Category 2 includes uninsurErl ani unregisterErl iroestments for ~ich the sewrities are held by the camterparty's trust department or agent in the govel"rIIent's nane. C:ltegory 3 inch.rles uninsura:l ani mregistera:l iroestments for ~ich the searrities are held by the brcker or dealer, or by its trust department or agent but not in the govel"rIIent's nane an:l uninsurErl, unregisterErl ani uncollateralized iroestments. Pension Trust Rmds a.u 10Clr. of the folloong iroestments. 18 I I I I I- ,I t I I I I I- ~-,.; I 1 I I I I I j I I I I I I I~ I I , f , r r f r - r r 10 VILLAGE OF GLENVThW, IlLINOIS IDlES 10 'mE FINANCIAL STA'l>>lENTS DECEMBER 31, 1989 3. Deposits am Investlrents (Cant.) B. Investlrents (Cant.) Carrying hoount Category 123 u. S. Govert"arents Securities $16,403,796 GNMA's 786,563 $17,190,359 * Deferred Canpensation Plan Assets Total Inves tIrents * (Not Subject to Risk Categorization) 4. Receivables - Taxes Market Totals Value $16,403,796 $16,766,377 786,563 790,100 17,190,359 $17,556,477 4,186,826 $21,377,185 Property taxes for 1989 attach as an enforceable lien on January 1, 1989, on property values assessed as of the same date. Taxes are levied by Decenber of the fiscal year (by passage of a Tax Levy Ordinance). Tax bills are prepared by the COtmty am issued on or about February I, 1990 ani August 1, 1990, am are payable in two installments, on or about March 1, 1990 am Septamer 1, 1990. The County collects such taxes ani remits than periodically. 5. Fixed Assets A. General Fixed Assets Accotmt Group The following 1S a SU1III8ry of changes rn the general fixed assets a::count group duri[~ the fiscal year. Balances Jan. 1 Lam Buildings am Irnprov€Crents Equipnent FUrniture Office Equipnent $ 1,981,758 11,770,290 5,311 ,109 537,117 301 ,010 $19,901,284 Additions Balances Dec. 1 Retirarents $ 723,846 $ 2,705,6<Xf. 48 ,687 253,835 $94,475 11,818,977 5,470,469 537,117 315,235 18,400 4,175 $1,044,768 $98,650 $20,847,402 ---- - - -- ----- - ---- -- -- - - -- - - -~--- -~---------- - - -- ~----- - - - VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 16. Deferred Compensation Plan 38 I I I I The government offers its employees a deferred compensation plan created in I accordance with Internal R~venue Code Section 457. The plan, available to all '= government employees, perm1ts them to defer a portion of their salary until future years. Participation in the plan is optional. The deferred compensation is not available to employees until termination, retirement, I death or unforeseeable emergency. All amounts of compensation deferred under .~'-'- the plan, all property and rights purchased with those amounts, and all income attributable to those amounts, property, or rights are (until paid or made I available to the employee or other beneficiary) solely the property and rights,> of the government subject only to the claims of the government's general creditors. Participants' rights under the plan are equal to those of general creditors of the government in an amount equal to the fair market value of the It deferred account for each participant. It is the opinion of the government's legal counsel that the government has no I.... liability for losses under the plan but does have the duty of due care that _ would be required of an ordinary prudent investor. The government believes that it is unlikely that it will use the assets to satisfy the claims of 1_. general creditors in the future.. 17. Post-Employment Health Care Benefits In addition to providing pension benefits, the government provides certain health care and life insurance benefits for retired public safety employees. Substantially all of the government's public safety employees may become eligible for those benefits if they reach normal retirement age while working for the government. The cost of retiree health care and life insurance benefits is $52,587 for the fiscal year. The government charges former employees 100% of the premiums. 18. Employee Retirement Systems A. Plan Descriptions and Provisions Illinois Municipal Retirement The government contributes to the Illinois Municipal Retirement Fund ("IMRF"), an agent multiple-employer public employee retirement system that acts as a common investment and administrative agent for local governments and school districts in lllinois. The government's total payroll for the year ended December 31, 1989, was $9,592,596. Of this amount, $4,426,475 in payroll earnings were reported to and covered by the IMRF system. I I I I I~ il~ 1- l :1 I I I I I I , I I I I I II I I ~l I I 19 VIJ.U,GE OF GlENVThW, IUoINOIS IDIES ill TIlE FINANCIAL SI'ATEMENTS DECEMBER 31, 1989 3. Deposits ard Irwestments (Cant.) B. Irwestments (Cont.) 1 u. S. Gove~nts Securities $16,403,796 GNM.L\ I S 786,563 $17,190,359 * Deferred Canpensation Plan Assets Total Irwestments * (Not Subject to Risk Categorization) 4. Receivables - Taxes Carrying Airount Category 2 3 Totals Market Value $16,403,796 $16,766,377 786,563 790,100 17,190,359 $17,556,477 4,186,826 $21,377,185 Property taxes for 1989 attach as an enforceable lien on January 1, 1989, on property values assessed as of the same date. Taxes are levied by Decenber of the fiscal year (by passage of a Tax Levy Ordinance). Tax bills are prepared by the County ard issued on or about February 1, 1990 ani August 1, 1990, ard are payable in two installments, on or about March 1, 1990 ard Septenber 1, 199O. The County collects such taxes an::l ranits them periodically. 5. Fixed Assets A. General Fixed Assets Account Group The following is a sunnary of changes m the general fixed assets a::Ccmlt group during the fiscal year. Balances Jan. 1 Lard Buildings ard ImprovenEnts Equiprent Furniture Office Equipment $ 1,981,758 11,770,290 5 ,311 ,109 537,117 301,010 $19,901,284 Additions Balances Dec. 1 RetirenEnts $ 723,846 $ 2,705 ,60!1. 48 ,687 253,835 $94,475 11,818,977 5,470,469 537,117 315,235 18,400 4,175 $1,044,768 $98,650 $20,847,402 VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 5. Fixed Assets (Cont.) B. Proprietary Fixed Assets The following is a summary of proprietary fund-type the date of this report: fixed assets as of Enterprise Fund s Systems Buildings Equipment and Vehicles Other $17,430,287 243,645 937,176 238,919 18,850,027 Less Accumulated Depreciation or Amortization 5,325,088 $13,524,939 In proprietary funds, compute depreciation: the following estimated useful lives are used to Water/Sewer System Buildings Improvements Equipment 50 years 40-50 years 10-20 years 3-10 years 6. Risk Management The government has purchased insurance from private insurance companies. Risks covered inc luded general liabil i ty, workers compensat ion, and other. Premiums have been displayed as expenditures/ expenses in appropriate funds. The government participates 1n the Intergovernmental Personnel Benefit Cooperative (IPBC). IPBC is a governmental J01nt venture established by certain units of local government in Illinois to administer some or all of the personnel benefit programs (primarily medical, dental, and life insurance coverage) offered by these members to their officers and employees and to the officers and employees of certain other governmental, quasigovernmental, and nonprofit public service entities. 20 ,I J I I I I I , I I I I I I !I I J I I I I I I I I 1- I I I I I I I I I I I I 21 VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 6. Risk Management (Cont.) While IPBC does have some "pooling" attributes, it is essentially a "cooperative" in that each member maintains a positive or negative account balance. Thus the government has reflected its "balance" with IPBC on its financial statements. The Cooperative acts solely as an administraive agency to receive, process, and pay such claims as may come within the benefit program of each member. The government's payments to IPBC are displayed on the financial statements as expenditures/expenses in appropriate funds. The government part1c1pates in the High-Level Excess Liability Pool (HELP). HELP is a joint venture establ ished by certain municipalities in Illinois to provide excess liability coverage ($5,000,000 of coverage after a $5,000,000 self-insurance retention). The government's payments to HELP are displayed on the financial statements as expenditures/expenses in appropriate funds. 7. Lease Obligations No material capital or operating leases were 1n effect as of the date of this report. 8. Long-Term Debt A. Changes 1n Long-Term Liabilities During the fiscal year the following changes occured 1n liabilities reported in the General Long-Term Debt Account Group: Balances Jan. 1 Retirements Balances Dec. 31 Additions General Obligation Bond s $2,875,000 $8,000,000 $525,000 $10,350,000 B. General Obligation Bonds The government issues general obI igat ion bonds to provide funds for the acquisition and construction of major capital facilities. General obligation bonds have been issued for both general government and proprietary activities These bonds therefore are reported in the proprietary funds if they are expected to be repaid from proprietary revenues. VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 8. Long-Term Debt (Cont.) C. Legal Debt Margin (Cont.) To date the General Assembly has set no limits for home rule municipal- ities. D. Noncommitment Debt Special serV1ce area bonds outstanding as of the date of this report totaled $797,812. These bonds are not an obligation of the government and a re secured by the levy of an annual tax on the real property wi thin the special service area. The government is in no way liable for repayment but is only acting as agent for the property owners in levying and collecting the tax, and forwarding the collections to bondholders. 9. Contractual Commitments High-Level Excess Liability Pool (HELP) The government has committed to purchase excess liability insurance from the High-Level Excess Liability Pool (Agency), a joint venture of Illinois munici- palities. The government expects to pay the following minimum amounts (these amounts represent the government's share of the principal and interest - "fixed costs" - of the Agency): Year Ended December 31 Amount 1990 1991 1992 1993 1994 1995 1996 1997 1998 $44 , 5 1 5 44,742 46,490 46,328 46,017 47,209 48,152 47, 186 47,724 These amounts have been calculated using the percentage of 6.24%. In future years this subject to change, because the Agency Agreement will be assessed based upon a formula which criteria for allocating premium costs: government's current allocation allocation percentage will be provides that each year Members specifies the following four Miles of Streets Full-Time Equivalent Employees Number of Motor Vehicles Operating Revenues 24 I I I I I I I I I~- I I I I I I I I I I I I ,I I I I I I I, I' I , I f I I I I I VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 9. Contractual Commitments (Cont.) Solid Waste Agency of Northern Cook County (SWANCC) 25 The government has committed to make payments to the Solid Waste Agency of Northern Cook County. The government expects to pay approximately $72,000 per year for the years ending April 30, 1990 - 1998. 10. Interfund Assets/Liabilities A. Due From/To Other Funds Receivable Fund General General General General General General Illinois Municipal Retirement Motor Fuel Tax Cab Ie Municipal Building Bond Corporate Purpose Bond Series Corporate Purpose Bond Series Corporate Purpose Bond Series Capi tal Equipment Replacement Capital Equipment Replacement Waterworks - West Escrow Deposit Police Pension Firemen's Pension Special Service Area B. Advances From/To Other Funds Receivable Fund Waterworks - East Waterworks - East Waterworks - East Payable Fund Pub lic Library Illinois Municipal Retirement Recyc ling Capital Projects Bond Fund Escrow General General General Corporate Purpose Bond Series Waterworks - East Sewer Bond Fund General Waterworks - East Municipal Building Bond Series Motor Fuel Tax General Gener al Municipal Building Bond Series Payable Fund Capital Equipment Replacement Capital Project Capital Project Amount $ I ,013 70,000 20,000 527,292 18,655 152,570 4,576 11,700 170,984 179,893 157,027 8,673 14,192 342,027 26,872 207,558 80,000 2,579 470 23,499 $2,019,580 Amount $407,458 30,078 30,077 $467,613 VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 IS. Joint Ventures (Cant.) B. High-Level Excess Liability Pool (Cont.) Summary Financial Information of Joint Venture (Cont.) Summary of Revenues, Expenses, and Changes in Retained Earnings for the year ended April 30, 1989. Operating Revenues Operating Expenses Operating Income Nonoperating Revenues (Expenses) In terest Income Interest Expense Ne t Inc ome Retained Earnings May I April 30 $ 962.059 50,333 911,726 501,191 (308.731) 192,460 1,104,186 718,566 $1,822,752 32 I I I I I I I I I I I I I I I I I I ,I I I I I I I I I I I I " I I I , I ,I I 33 VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 15. Joint Ventures (Cant.) B. High-Level Excess Liability Pool (Cont.) Summary Financial Information of Joint Venture (Cant.) Government's Share of Assets, Liabilities, Fund Equity and Changes for the year ended April 30, 1989 Total Assets Balances Increases Balances May 1 (Decreases) April 30 $406,458 $ 55,336 $461,794 $361,620 $06,664) $344,956 44,838 72 ,000 116,838 $406,458 $ 55,336 $461,794 Total Liabilities Fund Equity Retained Earnings Total Liabilities and Fund Equity Government's Share of Net Income $ 44,838 $ 72 ,000 Joint Venture Debt Changes in Long-Term Debt Balances May 1 Issuances Retirements Balances April 30 Due to Government for Retirement of General Obligation Bonds $5,000,000 $350,000 $4,650,000 VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 IS. Joint Ventures (Cont.) C. Solid Waste Agency of Northern Cook County (SWANCC) (Cont.) Summary Financial Information of Joint Venture (Cont.) Summary of Revenues, Expenses, and Changes in Retained Earnings for the year ended April 30, 1989: Total Revenues Total Expenses Net Income (Loss) Retained Earnings May I Apri I 30 Goverrunent's Share of Assets, Liabilities, FundEquity and Changes for the year ended April 30, 1989: Balance May 1 Total Assets Total Liabilities Fund Equity Retained Earnings Total Fund Equity Total Liabilities and Fund Equity Increases (Decreases) $69,067 69,067 $69,067 Balance Apri 130 $69,067 69,067 $69,067 36 I I I I I I I I I I I I I I I ,I I I I I I I I I I I 'I I I I I I I I I I I I 37 VILlAGE OF GlENVIEW, llLOOIS IDlES 10 lliE FINANCIAL SfATEMENIS DECEMBER 31, 1989 15. Joint Ventures ((bnt.) C. &>lid Waste Agency of tbrthem Cock County (SWAN:;C) (Cont.) Joint Venture ~bt - <hanges in long-Term Debt (bntract Re\enue and fund Anticipation tbte Series of 1988 :&lances May 1 Issuances RetirenEnts :&lances April 30 $5,500,000 $5,500,000 Joint venture ~bt - Security for the ~bt The 1988 Bonds are reverue obligations. They are limited obligations of the Agency with a claim for paym:!nt solely fran ani sewred by a pledge of the Ieverues of the Systan am alIlJlmts in varioos Flmds ani Accamts established by Agency resolutions. The 1988 Bonds are not a debt of my nanber. The Agency has no ~r to levy taKes. Reverues of the systan consist of (a) all receipts derived fran Solid Wlste Disp:>sal Contracts or my other contracts for the disp:>sal of Wiste; (b) all incOlE derived fran the iroeSlInent of UDneys; ani (c) all incOlE, fees, service charges am all grants, rents ani receipts derived by the Agency fran the O\.oKlership ani operation of the systan. The Agency covenants to establish fees and charges sufficient to provide rererues to TIEet all its requirEJiEnts. The Agency has entered into &>lid Wlste Disp:>sal (bntracts with the llB11ber nunicipalities. The Contracts are irrevOcable ani nay not be tenninated or arenied except as provided in the Contract. Each nanber is obligated, on a "tci<e or pay" basis, to purd1ase or in ary event to pcy for a minlmun anrual cost of the systan. The obligation of the govemnent to nake all payTIEnts as required by this (bntract is unconditional ani irI'ellOcable, witln.1t regard to perfoUDance or nonperfonnance by the Agency of its obligations tmder this Contract. The paym:!nts required to be made by the govemnent tmder this Contract shall be required to be made rolely fran rererues to be derived by the govemnent fran the q>eration of the govemnent's Systan. The govemnent is not prdlibited by the Contract fron us~ ary other available fmds to nake the payTIEnts required by the Contract. The (bntract shall not constitute an indebtness of the govemnent within the I1Ean~ of my statutory or constitutional limitation. VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 16. Deferred Compensation Plan The government offers its employees a deferred compensation plan created 1n accordance with Internal Revenue Code Section 457. The plan, available to all government employees, permits them to defer a portion of their salary until future years. Participation in the plan is optional. The deferred compensation is not available to employees until termination, retirement, death or unforeseeable emergency. All amounts of compensation deferred under the plan, all property and rights purchased with those amounts, and all income attributable to those amounts, property, or rights are (until paid or made available to the employee or other beneficiary) solely the property and rights of the government subject only to the claims of the government's general creditors. Participants' rights under the plan are equal to those of general creditors of the government in an amount equal to the fair market value of the deferred account for each participant. 38 I I I I I I I I It is the opinion of the government's legal counsel that the government has no I liability for losses under the plan but does have the duty of due care that would be required of an ordinary prudent investor. The government believes that it is unlikely that it will use the assets to satisfy the claims of I' general creditors in the future. 17. Post-Employment Health Care Benefits In addition to providing pension benefits, the government provides certain health care and life insurance benefits for retired public safety employees. Substantially all of the government I s public safety employees may become eligible for those benefits if they reach normal retirement age while working for the government. The cost of retiree health care and life insurance benefits is $52,587 for the fiscal year. The government charges former employees 100% of the premiums. 18. Employee Retirement Systems A. Plan Descriptions and Provisions Illinois Municipal Retirement The government contributes to the Illinois Municipal Retirement Fund ("IMRF"), an agent multiple-employer public employee retirement system that acts as a common investment and administrative agent for local governments and school districts in Illinois. The government's total payroll for the year ended December 31, 1989, was $9,592,596. Of this amount, $4,426,475 in payroll earnings were reported to and covered by the IMRF system. I I I I I 1 I I I I I I I I I I I I I I I I I I I I I I 39 VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 18. Employee Retirement Systems (Cont.) A. Plan Descriptions and Provisions (Cont.) Illinois Municipal Retirement (Cont.) All employees hired in positions that meet or exceed the prescribed annual hourly standard must be enrolled in IMRF as participating members. Pension benefits vest after eig~t years of service. Participating members who retire at or after age 60 with 8 years of credited service are entitled to an annual retirement b~nefit, payable monthly for life, in an amount equal to I 2/3 percent of their final rate (average of the highest 48 consecutive months' earnings during the last 10 years) of earnings, for each year of credited service up to 15 years, and 2 percent for each year thereafter. IMRF also provides death and disability benefits. These benefit provisions and all other requirements are established by Illinois State Statute. Participating members are required to contribute 4.5 percent of their annual salary to IMRF. The government is required to contribute the remaining amounts necessary to fund the coverage of its own employees in the System, using the actuarial basis specified by state statute (entry age normal); for 1989 the rate was 9.03. Police Pension Police sworn personnel are covered by the Police Pension Plan which is a defined benefit single-employer pension plan. Although this is a single-employer pension plan, the defined benefits and employee and employer contributions levels are governed by Illinois State Statutes (Chapter 108 1/2 Article 3) and may be amended only by the Illinois legislature. The government accounts for the plan as a pension trust fund. The government's payroll for employees covered by the Police Pension Plan for the year ended December 31, 1989 was $2,282,311 out of a total payroll of $9,592,596. At December 31, 1989 the Police Pension Plan membership consisted of: Retirees and Beneficiaries Currently Receiving Benefits and Terminated Employees Entitled to Benefits but not yet Receiving Them 23 Current Employees Vested Nonvested 56 Total 79 VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 18. Employee Retirement Systems (Cont.) A. Plan Descriptions and Provisions (Cont.) Police Pension (Cont.) The following is a stuUmary of the Police Pension Plan as provided for in Illinois State Statutes. The Police Pension Plan provides retirement benefits as well as death and disability benefits. Employees attaining the age of 50 or more with 20 or more years of creditable service are entitled to receive an annual retirement benefit of one-half of the salary attached to the rank held on the last day of service, or for one year prior to the last day, whichever is greater. The pension shall be increased by 2% of such salary for each additional year of service over 20 years up to 30 years, and l% of such salary for each addi t ional year of service over 30 years, to a maximum of 75% of such salary. Employees wi th at least 8 years but less than 20 years of credited service may retire at or after age 60 and receive a reduced benefit. The monthly pension of a police officer who retired with 20 or more years of service after January 1, 1977 shall be increased annually, following the first anniversary date of retirement and be paid upon reaching the age of at least 55 years, by 3% of the original pension and 3% simple interest annually thereafter. Covered employees are required to contribute 9% of their base salary to the Police Pension Plan. If an employee leaves covered employment with less than 20 years of service, accumulated employee contributions may be refunded without accumulated interest. The goverrnnent is required to contribute the rema1n1ng amounts necessary to finance the plan as actuarially determined by an enrolled actuary. By the year 2020 the government's contributions must accumulate to the point where the past service cost for the Police Pension Plan is fully funded. Firemen's Pension Fire sworn personnel are covered by the Firemen's Pension Plan which is a defined benefit single-employer pension plan. Although this is a single-employer pension plan, the defined benefits as well as the employee and employer contributions levels are mandated by Illinois State Statutes (Chapter 108 1/2 - Pensions - Article 4) and may be amended only by the Illinois legi slature. The government accounts for the plan as a pension trust fund. The government's payroll for employees covered by the Firemen's Pension Plan for the year ended December 31, 1989 was $1,513,600 out of a total payroll of $9,592,596. At December 31, 1989 the Firemen's Pension Plan membership consisted of: 40 I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I 41 VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 18. Employee Retirement Systems (Cont.) A. Plan Descriptions and Provisions (Cont.) Firemen's Pension (Cont.) Retirees and Beneficiaries Currently Receiving Benefits and Terminated Employees Entitled to Benefits but not yet Receiving Them 18 Current Employees Vested Nonves ted ] ] 38 Total 56 The following is a summary of the Firemen's Pension Plan as provided for in Illinois State Statutes. The Firemen's Pension Plan provides retirement benefits as well as death and disability benefits. Employees attaining the age of 50 or more with 20 or more years of creditable service are entitled to receive a monthly retirement benefit of one-half of the monthly salary attached to the rank held in the fire service at the date of retirement. The monthly pension s hall be increased by one-twelfth of 2% of such monthly salary for each additional month over 20 years of service through 30 years of service and one-twelfth of 1% of such monthly service for each additional month over 30 years of service, to a maximum of 75% of such monthly salary. Employees with at least 10 years but less than 20 years of credited service may retire at or after age 60 and receive a reduced retirement benefit. The monthly pension of a firefighter who retired with 20 or more years of service after January 1, 1977 shall be increased annually, following the first anniversary date of retirement and paid upon reaching at least the age 55, by 3% of the original pension and 3% annually thereafter. Covered employees are required to contribute 8 1/4% of their salary to the Firemen's Pension Plan. If an employee leaves covered employment with less than 20 years of service, accumulated employee contributions may be refunded without interest. The government is required to contribute the remaining amounts necessary to finance the plan as actuarially determined by an enrolled actuary. By the year 2020 the government's contributions must accumulate to the point where the past service cost for the Firemen's Pension Plan is fully funded. VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 18. Employee Retirement Systems (Cont.) B. Summary of Significant Accounting Policies and Plan Asset Matters Basis of Accounting The financial statements are prepared uS1ng the accrual basis of accounting. Employee and employer contributions are recognized as revenues in the period in which employee services are performed. Method Used to Value Investments Fixed-income securities are reported at amortized cost with discounts or premitnns amortized using the effective interest rate method, subject to adjustment for market declines judged to be other than temporary (lower of cost or market). Investment income is recognized as earned. Gains and losses on sales and exchanges of fixed-income securities are recognized on the transaction date. Equity securities are reported at cost subject to adjustment for market declines judged to be other than temporary (lower of cost or market). Significant Investments There are no investments (other than U.S. government and U.S. government- guaranteed obligations) in anyone organization that represent 5 percent or more of net assets available for benefits. Related Party Transactions 42 I I I I I I I I I I I I There are no securities of the employer or any other related parties I included in plan assets, including any loans. C. Funding Status and Progress The amount shown below as the "pension benefit obligation" for the IMRF fund is a standardized disclosure measure of the present value of pension benefits, adjusted for the effects of projected salary increases and step-rate benefits, estimated to be payable in the future as a result of employee service to date. The measure is intended to help users assess the funding status of the system on a going-concern basis, assess progress made in accumulating sufficient assets to pay benefits when due, and make comparisons among employers. The measure is the actuarial present value of credited projected benefits and is independent of the funding. method used to determine contributions to the System. I I I I J I I I I I I I I I I I I I I I I I I I I VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 18. Employee Retirement Systems (Cont.) C. Funding Status and Progress (Cont.) 43 The amount shown below as the "pension benefit obligation" for the Police Pension Plan and the Firemen's Pension Plan, is a substitute disclosure measure (entry age normal), the actuarial accrued liability of the present value of pension benefits, adjusted for the effects of projected salary increases and step-rate benefits, estimated to be payable in the future as a result of employee service to date. This substitute disclosure measure is intended to help users assess the funding status of the system on a going-concern basis, assess progress made in accumulating sufficient assets to pay benefits when due, and made comparisons among other employers using the substitute disclosure method. The substitute disclosure measure is independent of the funding method used to determine contributions to the System. Actuarial Valuation Date Significant Actuarial Assumptions a) Rate of Return on Invest- ment of Present and Future Assets b) Projected Salary Increases - Attributable to Inflation c) Additional Projected Salary Increases - Attributable to Seniority/Merit d) Postretirement Benefit Increases Illinois Municipal Retirement December 31, 1988 7.00% compounded annually 3.75% ] compounded ] annually ] ] ] ] ] ] 1. 00% ] 3.00% Police Pension December 31, 1988 8.50% compounded annually 6.00% compounded annually Firemen's Pension December 31, 1988 8.50% compounded annually 6.00% compounded annually (Note - separate information for b) and c) not available) 3.00% simple interest annually 3.00% compounded annually VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 18. Employee Retirement Systems (Cont.) C. Funding Status and Progress (Cont.) Pension Benefit Obligation Retirees and Beneficiaries Currently Receiving Benefits and Terminated Employees not yet Receiving Benefits Current Employees Accumulated Employee Contributions Including Allocated Investment Earnings Employer - Financed Vested Employer - Financed Nonvested Total Pension Benefit Obligation Net Assets Available Benefits, at Lower Cost or Market (Market Values) (IMRF - $ (Police - $ (Firemen's - $ for of 3,865,227) 10,291,640) 8,798,534) (Totals $( 22,955,401) Illinois Municipal Retirement (Note A) $ 491,015 1,619,200 3,200,691 558,265 5,869,171 3,527,092 Unfunded (Assets in Excess of) Pension Benefit Obligation $2,342,079 Police Pension $ 3,577 ,631 ] ] ] ] ] ] ] ] 4,972,721 (Note B) Firemen's Pension Totals 8,550,352 10,095,845 $ 1,179,864 $ 5,248,510 4,438,894 14,789,771 (Note B) 44 I I I I I I I I I I I I I I I I I I I 5,618,758 20,038,281 8,631,747 22,254,684 $(1,545,493) $(3,012,989)$(2,216,403) (Note A) The pension benefit obligation appl icable to retirees and beneficiaries currently receiving benefits is not included in the above schedule due to the fact that this obligation was transferred from the government to IMRF as a whole when the annuity became payable. I I I 45 VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 I 18. Employee Retirement Systems (Cont.) C. Funding Status and Progress (Cant.) I I I I I I I I I I I I I I I (Note B) The concept of vesting is not clearly defined in Illinois State Statutes. Benefit accrual rates are delineated, but they do not assist in defini- tively determining vesting status. As such no detail allocation can be determined. D. Contributions Required and Contributions Made Illinois Municipal Retirement, Police Pension, and Firemen's Pension The Sys tems' funding policy provides for actuarially determined periodic contributions at rates that, for individual employees, accumulate assets gradually over time so that sufficient assets will be available to pay benefits when due. The rate for the government's employee group as a whole has tended to remain level as a percentage of annual covered payroll. The contribution rate for normal cost is determined using the entry age normal actuarial funding method. The IMRF System used the level percentage of payroll method, while the Police Pension and Firemen's Pension Systems used a level dollar amount method to amortize the unfunded liability over a 40 year period. The significant actuarial asslDl1ptions used to compute the actuarially determined contribution requirements are the same as those used to compute the pension benefit obligation as described in C. above. Illinois Municipal Retirement Police Pension Fi remen ' s Pension Totals Actuarial Valuation Date December 31, 1988 December 31, December 31, 1988 1988 Actuarially Determined Contribution Requirement - Employer As a Dollar Amount Normal Cos t Amortization of Unfunded Actuarial Accrued Liability Death and Disability Cost $307,197 $173,214 $ 158,308 083,176) $ 638,719 61,970 30,542 (21,217) 042,423) 30,542 $399,709 $151,997 $ (24,868) $ 526,838 VILLAGE OF GLENVIEW, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1989 18. Employee Retirement Systems (Cont.) D. Contributions Required and Contributions Made (Cont.) As a % of Current Covered Payroll Normal Cost 6.94% 7.6% 10.5 % 7.77% Amortization of Unfunded Actuarial Accrued Liability 1.40 (1.0) (12.1) (1.73) Death and Disability Cost .69 .37 9.03% 6.6% (1.6)% 6.41% Contribution Made As a Dollar Amount Employer Employee $ 39,040 $ 124,872 590,829 529,474 $152,079 205,408 $399,710 199,194 $598,904 $357,487 $163,912 $1,120,303 As a % of Current Covered Payroll Employer E~ployee 5.90% 8.25 7.18% 6.44 6.60% 9.00 9.03% 4.50 13.53% 15.60% 14.15% 13.62% Effects on the Contribution Requirements of Current-Year Changes Illinois Municipal Retirement Changes in the actuarial assumptions, benefit prov1s1ons, and methodology, will be incorporated in the 1990 employer contribution rate. Separate dollat;' effects of each change were not economically determinable on an individual employer basis by IMRF. 46 I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I 47 Vill.AGE OF GLENVThW IILOOIS IDlES 10 'IRE FINANCIAL STATEMENl'S DECEMBER 31, 1989 18. Fmplo~e lEtirenent SystEm; (G:>nt.) E. Trem Infonna tion Trem infonnation gives an imication of the progress lMde in acannulati~ sufficient assets to pay benefits Yhen due. Ten-year trem infonnation my be fumd in the supplarental section of the gOlTerment's anrual financial rep:>rt. Illinois Municipal Police Firaren's Year Retirarent Pensioo Pension Totals r-et hlsets Available for B:!nefits As a % of the Pension Benefit 1987 63.20% 103.80% 118.7ot 99.6lr. <hligation (00) 1988 58.07% 113.00% 131.90% 104.19% 1989 60.10% 118.00% 153.6ot 111. 06% Unfwded (hlsets in EXcess of) PID As a % of Ilmual Covered Payroll (Expressing the Lmfwded pension benefit obligation as a percent- age of annual covered payroll approximately a:ljusts for the effects of inflation for 1987 46.00% (11.14%) (87.21%) (10.98%) analysis purposes) 1988 52.90 (49.27%) 044.06%) (10.69%) 1989 52.96 (67.70% (199.06% (26.96%) Employer Contributions As a % of Anrual Covered Payroll 1987 7.00% 23.24% 22.59% 14,56% 1988 7.00% 22.59% 22.09% 14.06% 1989 9.0lY. 6.60% 5.90% 13.6lY. Required 1987 $259,384 $286,000 $135,000 $ 680,384 1988 $280,388 $276,008 $131,31O $ 687,706 1989 $))9,710 $151,997 $ 551,707 Male 1987 $259,384 $474,199 $290,435 $1,024,018 1988 $280,388 $471 ,902 $288,177 $1,040,467 1989 $399,710 $152,076 $ 39,040 $ 590,826 I I ~ I I I II I I, I I I I I I I M I I VILLAGE OF GLENVIEW, ILLINOIS CORPORATE FUND 63 SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.) FOR THE YEAR ENDED DECEMBER 31, 1989 Highways and Streets (Cont.) Development and Public Services (Cont.) Building Inspection (Cont.) Equipment Replacement Equipment Repairs Machinery and Equipment Furniture and Fixtures Less Transfer to Capital Equipment Replacement Fund Total Highways and Streets Budget Actual $ 9,000 $ 9,000 10,335 5,157 11 , 250 22,455 100 109 429,099 438,454 9,000 9,000 420,099 429,454 $2,439,141 $2,403,559 I I I I I I I I I I I I I I I I I I I SPECIAL REVENUE FUNDS I I I I I I I I I I I I I I I I I I I GENERAL FUND Fund Description Corporate Fund The General Fund, also referred to as the Corporate Fund, ~s used to account for resources traditionally associated with governmental serv~ces not required to be accounted for in another fund. VILLAGE OF GLENVIEW, ILLINOIS CORPORATE FUND BALANCE SHEET DECEMBER 31, 1989 1989 1988 ASSETS Cash and Investments $2,321,969 $2,234,287 Receivables Taxes Property Taxes 1,912,414 1,770,344 Sales Tax 860,000 485,000 Income Tax 85,000 84,000 Utility Taxes 242,823 246,608 Replacement Taxes 9,052 11,904 Accounts 4,993 5,987 Other 167,198 71 ,530 Due from Other Funds 789,530 387,543 Prepaid Items 1,724 124,078 Investment in Land Held for Resale 725,310 Total Assets $7,120,013 $5,421,281 LIABILITIES AND FUND BALANCE Liabilities Accounts Payable Compensated Absences Payable Other Payables Due to Other Funds Deferred Revenues Total Liabilities $ 80,422 $ 82,299 228,125 252,348 4,213 532,337 566,294 1,912,414 I ,770,344 2,757,511 2,671,285 Fund Balance Reserved for Prepaid Items 1,724 124,078 Reserved for Land Held for Resale 725,310 Unreserved Undesignated 3,635,468 2,625,918 Total Fund Balance 4,362,502 2,749,996 Total Liabilit ies and Fund Balance $7,120,013 $5,421,281 See accompanYlng Notes to the Financial Statements. 48 I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I VILLAGE OF GLENVIEW, ILLINOIS CORPORATE FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1989 Revenues Taxe s Licenses and Permits Intergovernmental Charges for Services Fines and Forfeits Interest Miscellaneous Total Revenues Expenditures General Government Public Safety Highways and Streets Total Expenditures Excess of Revenues over Expenditures Other Financing Sources (Uses) Operating Transfers In (Out) Capital Projects Fund Bond Fund Series 1989 Capital Equipment Replacement Fund Escrow Deposit Fund Police Pension Fund Firemen's Pension Fund Excess (Deficiency) of Revenues and Other Financing Sources over Expendi- tures and Other Financing Uses $ Fund Balance January 1 Prior Period Adjustment Adjusted Balance Residual Equity Transfer In Residual Equity Transfer Out December 31 Budget $ 9,595,213 1,147,000 634,922 280,000 133,500 65,000 11,855,635 2,469,782 5,918,374 2,439,141 10,827,297 1,028,338 (225,000) (503,610) 328,200 (22,516) (15,243) (438,169) 590, 169 See accompanY1ng Notes to the Financial Statements. 1989 Actual $ 9,616,523 1,137,949 88,382 625,662 248,733 147,192 34,384 11,898,825 2,586,594 5,705,144 2,403,559 10,695,297 1,203,528 (225,000) 72 5,000 (503,610) 450,347 (22,516) (15,243) 408,978 1,612,506 2,749,996 2,749,996 2,749,996 $ 4,362,502 49 1988 Actual $ 8,177,086 1,007,561 777,459 210,143 96,564 65,609 10,334,422 2,532,358 5,409,822 2,169,173 10,111,353 223,069 (296,000) 078,930) 00,000) 290,650 094,280 ) (171,211) 3,282,036 8,771 3,290,807 42,292 (411,892) 2,921,207 $ 2,749,996 VILLAGE OF GLENVIEW, ILLINOIS CORPORATE FUND SCHEDULE OF REVENUES - BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1989 Taxes Property Taxes - Current Property Taxes - Prior Replacement Taxes Sales Tax Utility Tax Illinois Income Tax Road and Bridge Franchise Taxes Road and Bridge - Prior Hotel Room Tax Licenses and Permits Motor Vehicle Business Liquor Pet Heating and Air Conditioning Buildings Electrical Inspection Plumbing and Sewer Plan Review and Elevator Inspection Driveway Permits Intergovernmental Charges for Services Administration Engineering Fees Unclassified Public Works Service Other Current Service Charges Fines and Forfeits Interest 1989 Budget $1,911,095 63,360 3,446,230 2,321,598 1,073,140 59,000 155,640 565,150 9,595,213 405,000 85,000 60,000 4,800 1,700 447,000 55,000 35,000 49,300 4,200 1,147,000 497,922 85,000 20,000 32,000 634,922 280,000 133,500 Actual $1,792,163 8,772 35,098 3,425,477 2,414,772 1,406,056 56,943 82,140 308 394,794 9,616,523 406,685 84,662 63,417 5,452 1,313 405,216 44,599 47,520 71,930 7,155 1,137,949 88,382 497,922 78,779 16,384 32,577 625,662 248,733 147,192 50 I I I I 1988 Actual I $1,482,333 I 42,915 3,132,518 I 2,202,445 952,708 53,444 67,189 I 202 243,332 8,177,086 I 398,791 I 78,006 66,990 5,142 1,225 I 351,602 36,192 20,729 I 43,984 4,900 1,007,561 I 613,584 I 111,915 15,557 I 36,403 777 ,459 210,143 I 96,564 I I I I I I I I I I I I I I I I I I I I I I 51 VILLAGE OF GLENVIEW, ILLINOIS CORPORATE FUND SCHEDULE OF REVENUES - BUDGET AND ACTUAL (CONT.) FOR THE YEAR ENDED DECEMBER 31, 1989 1989 1988 Budget Actual Actual Miscellaneous Insurance Refunds $ 38,880 Damage to Village Property $ 5,000 $ 5,759 4,180 Other 60,000 28,625 22,549 65,000 34,384 65,609 Total Revenues $11,855,635 $11 ,898,825 $10,334,422 VILLAGE OF GLENVIEW, ILLINOIS CORPORATE FUND SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1989 Budget Actual General Government Board of Trustees $ 18,338 $ 17,350 Spec ial Board 72,610 79,899 Legal and Insurance 540,004 552,701 Emergency Service Disaster Agency 18,100 9,665 Village Manager 288,703 282,050 Finance 459,160 437,692 Municipal Building and Grounds 270,699 275,258 Personnel 802,168 763,915 Other 82, 724 Public Health 91,378 85,340 2,561,160 2,586,594 Pub lic Safety Police Department 3,620,818 3,602,304 Fire Department 2,184,178 2,068,419 Printing 22,000 34,421 5,826,996 5,705,144 Highways and Streets Development and Public Services Administration Planning and Zoning Engineering Public Works - Administration Public Works - Overhead Public Works - Street Maintenance Public Works - Traffic Public Works - Storm Water Management Public Works - Snow and Ice Control Public Works - Forestry Public Works - Grounds Building Inspection 113,430 89,750 260,163 144,311 495,967 129,593 240,935 95,536 170,848 171,909 61,663 429,454 2,403,559 113,759 95,518 288,163 151 ,544 545, 792 92,110 215,385 91,539 153,620 197,175 74,437 420,099 2,439,141 Total Expenditures $10,827,297 $10,695,297 52 I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I 53 VILLAGE OF GLENVIEW, ILLINOIS CORPORATE FUND SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.) FOR THE YEAR ENDED DECEMBER 31, 1989 Budget Actual General Government Board of Trustees Regular Salaries Dues, Subscriptions and Memberships Travel Expense Training Materials and Supplies Trustee Expense $ 3,000 $ 3,075 100 30 80 1 ,000 3,260 2,409 10,978 11 ,756 18,338 17,350 71,710 71 , 528 800 1,325 100 5 7,041 72,610 79,899 24,600 38,359 1,700 1,814 425 850 174 33,000 33,000 24,000 24,000 125,000 127,806 326,279 326,279 5,000 419 540,004 552,701 Spec ial Board Contractual Services Materials and Supplies Other Operational Expenses Glenbrook Fire Protection District Expense Legal and Insurance Contractual and Professional Services Books Dues, Subscriptions and Memberships Printing, Binding and Publication Village Attorney Retainer Prosecutor Retainer Outside Litigation Insurance - General Insurance - Claims VILLAGE OF GLENVIEW, ILLINOIS CORPORATE FUND SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.) FOR THE YEAR ENDED DECEMBER 31, 1989 General Government (Cont.) Emergency Service Disaster Agency Power and Light Telephone and Telegraph Maintenance of Equipment Office Supplies Books, Pamphlets, and Materials Materials and Supplies Contingencies Machinery and Equipment Small Tools Village Manager Regular Salaries Overtime Salaries Temporary Salaries Longevity Pay Contractual Professional Services printing, Binding and Publication Postage Dues, Subscriptions and Memberships Maintenance of Equipment Rentals Travel Expense Training Expense Books, Pamphlets and Materials Equipment Replacement Equipment Repairs Machinery and Equipment Operational Material and Supplies Less Transfer to Capital Equipment Replacement Fund Finance Regular Salaries Overtime Salaries Temporary Salaries Longevity Pay Contractual Professional Services printing, Binding and Publication Postage Dues, Subscriptions and Membership Maintenance of Equipment Rentals Budget $ 1,100 1,800 2,500 200 200 1,500 2,000 8,000 800 18,100 203,956 12,190 1,050 14,000 1,000 20,000 12,993 250 3,780 5,480 850 300 5,000 5,354 7,500 293,703 5,000 288,703 281,184 5,000 20,600 2,250 48,875 6,000 8,000 930 29,034 26,100 Actual $ 926 890 7,834 9,665 210,880 104 10,016 700 4,003 789 23,159 12,774 170 2,790 3,660 467 767 5,183 4,031 7,500 57 287,050 5,000 282,050 267,440 6,935 20,807 2,250 45,575 5,169 4,210 760 22, 779 21,595 54 I I I I I I I I I I I I I I I I I I I 15 I I I I I I I I I I I I I I I I I I I VILLAGE OF GLENVIEW, ILLINOIS CORPORATE FUND SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.) FOR THE YEAR ENDED DECEMBER 31, 1989 Budget General Government (Cont.) Finance (Cont.) Travel Expense Training Office Supplies Books, Pamphlets and Materials Computer Supplies Other Operating Expense Reimbursable Expense Bank Charges Machinery and Equipment $ 3,822 700 14,000 200 7,000 400 50 5,015 459,160 Municipal Building and Grounds Regular Salaries Overtime Salaries Temporary Salaries Heating and Lighting Postage Telephone Maintenance of Equipment Maintenance of Buildings Rentals Uniform Allowance Cleaning and Household Supplies Maintenance Materials - Buildings Small Tools and Equipment Employee Welfare Equipment Repairs Buildings and Improvements Improvements Other than Building 23,604 1,500 8,550 9,650 15,000 24,000 18,500 8,645 9,200 400 3,500 4,000 450 5,100 100 130,000 8,500 270,699 Personnel Contractual Professional Services printing, Binding and Publications Dues, Subscriptions and Memberships Insurance and Bonding Travel Training Expense Books, Pamphlets and Materials Employee Welfare 34,750 3,500 1,280 728, 138 950 25,500 100 7,950 802,168 Public Health Regular Salaries Overtime Salaries Temporary Salaries Longevity Pay 72,864 1,500 2,541 1,000 55 Actual $ 4,473 220 22,151 77 6,841 36 573 184 5,617 437,692 23,604 1,051 8,396 6,945 21,060 24,849 18,917 11,004 9,752 116 2,780 1,799 597 9 3,065 133,296 8,018 275,258 36,181 6,187 4,597 683,662 776 27,133 80 5,299 763,915 73,950 259 1,793 1,000 VILLAGE OF GLENVIEW, ILLINOIS CORPORATE FUND SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.) FOR THE YEAR ENDED DECEMBER 31, 1989 Public Health (Cont.) Contractual Professional Services Printing, Binding and Publication Dues, Subscriptions and Memberships Maintenance of Equipment Travel Expense Training Books, Pamphlets and Materials Small Tools and Equipment Operating Materials and Supplies Other Operational Expense Equipment Replacement Equipment Repairs Machinery and Equipment Budget $ 500 100 445 315 615 2,250 550 300 1,725 200 2,900 3,473 3,000 94,278 2,900 91,378 Total Public Health Less Transfer to Capital Equipment Replacement Fund Other Total General Government $2,561,160 Public Safety Police Department Regular Salaries Overtime Salaries Overtime Hire Back Overtime Court Time Overtime Training Overtime Extra Detail Temporary Salaries Holiday Pay Longevity Pay Contractual Professional Services printing, Binding and Publication Heat ing Postage Telephone Dues and Subscriptions Maintenance of Equipment Maintenance of Buildings Rentals Travel Expenses Car Allowance $2,694,245 68,000 41,900 52,000 4,400 92,700 86,000 24,887 83,296 3,850 6,500 3,600 33,500 2,000 40,000 1,850 6,161 5,410 300 Actual $ 210 40 449 204 339 1,818 182 290 677 120 2,900 3,615 394 88,240 2,900 85,340 82,724 $2,586,594 $2,685,332 88,902 53,424 55,731 3,366 4,309 80,349 75,698 24,888 87,840 4,204 3,376 3,952 29,193 2,652 27,663 743 6,194 5,069 56 I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I 57 VILLAGE OF GLENVIEW, ILLINOIS CORPORATE FUND SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.) FOR THE YEAR ENDED DECEMBER 31, 1989 Budget Actual Public Safety (Cont.) Police Department (Cont.) Training Uniform Allowance Office Suppl ies Books, Pamphlets and Materials Cleaning and Household Supplies Maintenance Materials - Buildings Operating Materials and Supplies Computer Supplies Employee Welfare Equipment Replacement Equipment Repairs Machinery and Equipment Building and Improvements Furniture and Fixtures Automotive Less Transfer to Capital Equipment Replacement Fund $ 45,500 $ 49,336 40,210 40, 172 4,000 3,998 7,500 8,543 2)000 3,158 4,500 2,130 16,550 19,473 1,500 950 3,700 4)588 165 , 0 60 165,060 11 7 , 789 116,026 99)380 98,874 6,700 4,948 9,390 7,223 11 ,500 3,785,878 3,767,364 165,060 165,060 3,620,818 3,602,304 1,645,429 1)550,579 16,000 12,583 11 ,400 8,664 8)000 7,746 64 , 100 81,508 1)000 409 400 93 10,746 10,262 13,750 8,457 6,000 5,459 16,000 18,963 6,000 3,652 21,500 21,637 59,067 58,336 20,900 19,400 90,596 101,047 200 16 3,800 2,731 450 439 12,000 10,593 865 554 20,425 15,815 6) 100 2,152 1,884 1,887 2,266 2,180 Fire Department Regular Salaries Overtime Salaries Overtime Acting Company Officer Overt ime On Call Overtime Hire Back Overtime Apparatus Repair Overtime Fire Prevention Overtime Public Education Overtime Emergency Medical Service Overtime Hazardous Material Overtime FLSA Overtime Special Rescue Overtime Training Holiday Pay Longevity Pay Contractual Professional Services Printing, Binding, and Publications Heating Postage Telephone Dues, Subscriptions and Memberships Maintenance of Equipment Maintenance of Buildings Rentals Travel Expense VILLAGE OF GLENVIEW, ILLINOIS CORPORATE FUND SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.) FOR THE YEAR ENDED DECEMBER 31, 1989 Budget Actual Public Safety (Cont.) Fire Department Training Uniform Allowances Office Supplies Books, Pamphlets and Materials Motor Vehicle Supplies Cleaning Supplies Maintenance Materials - Equipment Maintenance Materials - Buildings Small Tools and Equipment Operating Materials and Supplies Employee Welfare Equipment Replacement Equipment Repairs Machinery and Equipment Furniture and Fixtures $ 11 , 500 $ 14,686 15,250 15,250 950 589 6,900 5,238 1,500 1,231 2,600 3,387 11 , 400 1,403 4,800 3,892 3,600 679 14,925 11,692 500 496 208,877 159,659 39,600 39,150 28,275 20,623 3,500 5,080 2,393,055 2,228,217 208,877 159,798 2,184,178 2,068,419 1,000 485 2,500 10,919 3,000 3,056 13,000 14,035 2,500 5,926 22,000 34,421 $5,826,996 $5,705,144 Less Transfer to Capital Equipment Replacement Fund '1ting ~vertime Salaries Printing, Binding and Publications Maintenance of Equipment Office Supplies Operating Supplies Total Public Safety Highways and Streets Development and Public Services Administration Regular Salaries Overtime Salaries Temporary Salaries Contractual and Professional Services printing, Binding and Publication Dues, Subscriptions and Memberships Maintenance of Equipment Travel Expense Training Materials and Supplies $ 103,760 $ 100 , 913 200 658 1 ,000 3,798 159 16 625 560 385 48 1,150 1,820 500 200 440 58 I I I I I I I I I I I I I I I I I I I I 59 I VILLAGE OF GLENVIEW, ILLINOIS CORPORATE FUND I I SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.) FOR THE YEAR ENDED DECEMBER 31, 1989 Budget Actual I Highways and Streets (Cont.) Development and Public Services (Cont.) Administration (Cont.) Books, Pamphlets and Materials Computer Supplies Equipment Replacement Equipment Repairs Machinery and Equipment I Less Transfer to Capital Equipment Replacement Fund $ 200 $ 358 200 76 1,800 1,800 2,039 1,179 3,500 3,405 115,559 115,230 1,800 1,800 113,759 113,430 47,568 30,955 1,742 12,600 12,338 450 300 20,000 30,829 10,000 9,203 3,000 3,052 900 42 600 495 400 794 95,518 89,750 236,700 218,384 1 ,000 1,828 19,800 19,189 1,100 1,100 8,000 500 312 845 827 825 1,124 500 773 1,300 1,083 2,200 1,052 725 745 100 80 1,300 1,312 350 38 10,500 10,500 7,668 5,242 5,250 7,074 298,663 270,663 10t500 10,500 288,163 260,163 I I Planning and Zoning Regular Salaries Overtime Salaries Temporary Salaries Longevity Pay Contractual and Professional Services printing, Binding and Publication Dues, Subscriptions and Memberships Travel Expense Training Operational Supplies I I I I Engineering Regular Salaries Overtime Salaries Temporary Salaries Longevity Pay Contractual Professional Services Printing, Binding and Publications Dues, Subscriptions and Memberships Maintenance of Equipment Microfilming Travel Expense Training Uniform Allowance Books, Pamphlets and Materials Operational Materials Computer Supplies Equipment Replacement Equipment Repairs Machinery and Equipment I I I I I Less Transfer to Capital Equipment Replacement Fund I I VILLAGE OF GLENVIEW, ILLINOIS CORPORATE FUND SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.) FOR THE YEAR ENDED DECEMBER 31, 1989 Highways and Streets (Cont.) Development and Public Services (Cont.) Public Works - Administration Regular Salaries Overtime Salaries Temporary Salaries Longevity Pay Contractual Professional Services Printing, Binding and Publications Dues, Subscriptions and Memberships Maintenance of Equipment Rentals Travel Expense Training Office Supplies Books, Pamphlets and Materials Computer Supplies Machinery and Equipment Public Works - Overhead Regular Salaries Overtime Salaries Temporary Salaries Longevity Pay Heat Telephone Dues, Subscriptions and Memberships Maintenance of Equipment Haintenance of Building Improvements Rentals Travel Expense Training Uniform Allowance Office Supplies Books, Pamphlets and Materials Cleaning Supplies Maintenance Materials - Buildings Small Tools and Equipment Employee Welfare Equipment Replacement Equipment Repairs Machinery and Equipment Less Transfer to Capital Equipment Replacement Fund Budget Actual $115,904 $115,896 1,000 741 13,000 12,343 350 350 1,000 529 100 54 400 385 I , 920 125 3,700 2,187 1,100 354 1,000 1,363 200 2,083 70 194 800 53 11,000 7,654 151,544 144,311 291,748 229,259 1,566 1,293 27,033 32,531 9,550 9,550 12,700 10,984 3,000 2,517 50 45 600 5,046 8,500 4,957 19,820 20,284 200 168 1,500 1,023 7,000 7,986 16 100 77 2,000 3,147 3,500 2,689 800 504 3,000 1,922 149,552 149,552 141,575 150,687 11 ,550 11 ,282 695,344 645,519 149,552 149,552 545,792 495,967 60 I I I I I I I I I I I I I I I I I I I I I' I I I I I I I I I I - I I I I I I I VILLAGE OF GLENVIEW, ILLINOIS CORPORATE FUND 61 SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.) FOR THE YEAR ENDED DECEMBER 31, 1989 Highways and Streets (Cont.) Development and Public Services (Cont.) Public Works - Street Maintenance Regular Salaries Overtime Salaries Temporary Salaries Maintenance Materials - Buildings Small Tools and Equipment Operational Materials and Supplies Machinery and Equipment Public Works - Traffic Regular Salaries Overtime Salaries Temporary Salaries Power and Light Maintenance of Equipment Maintenance of Buildings Rentals Sign Supplies Small Tools and Equipment Operating Materials and Supplies Other Charges Public Works - Storm Water Management Regular Salaries Overtime Salaries Temporary Salaries Maintenance of Buildings Maintenance Materials - Equipment Maintenance Materials - Buildings Small Tools and Equipment Operating Materials and Supplies Public Works - Snow and Ice Control Regular Salaries Overtime Salaries Temporary Salaries Contractual Professional Services Maintenance Materials - Equipment Operating Materials and Supplies Machinery and Equipment Budget Actual $ 50,000 $ 89, 172 9,000 8,593 8,660 7,355 15,000 10,527 1,000 1,659 6,500 12,287 1,950 92,110 129,593 47,020 73,578 3,815 7,131 2,610 2,206 85,000 88,453 44,000 37,487 8,000 5,639 400 407 22,000 23,362 800 741 900 1,091 840 840 215,385 240,935 58,404 66,150 2,655 2,751 7,880 5,956 4,000 2,000 3,000 622 5,000 3,721 200 210 10,400 14,126 91,539 95,536 54,910 47,077 28,165 26,936 2,870 1,117 525 525 9,500 16,902 50,500 74,270 7,150 4,021 153,620 170,848 VILLAGE OF GLENVIEW, ILLINOIS CORPORATE FUND SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.) FOR THE YEAR ENDED DECEMBER 31, 1989 Highways and Streets (Cont.) Development and Public Services (Cont.) Public Works - Forestry Regular Salaries Overtime Salaries Temporary Salaries Contractual Professional Services Dues, Subscriptions and Membership Maintenance of Equipment Maintenance of Buildings Books, Pamphlets and Materials Maintenance Materials - Equipment Small Tools and Equipment Operating Materials and Supplies Public Works - Grounds Regular Salaries Overtime Salaries Temporary Salaries Maintenance of Buildings Maintenance Materials - Equipment Small Tools and Equipment Operating Materials and Supplies Machinery and Equipment Building Inspection Regular Salaries Overtime Salaries Temporary Salaries Longevity Pay Contractual and Profes'sional Services Printing, Binding and Publication Dues, Subscriptions and Memberships Maintenance of Equipment Microfilming Travel Training Uniform Allowance Books, Pamphlets and Materials Operating Materials and Supplies Budget Actual $132,665 $117,640 3,075 9,040 12,915 6,178 1,800 531 150 123 900 28 38,000 33,282 70 49 1,200 824 2,400 2,408 4,000 1,806 197,175 171,909 60,330 50, 77 1 1,555 1,004 852 861 1,000 200 500 485 800 952 4,000 2,300 5,400 5,090 74,437 61,663 353,634 342,332 10,500 10,451 5,200 6,886 2,250 1,800 8,000 21,307 3,000 2,254 550 564 700 2,834 7,500 5,424 880 322 3,600 3,556 900 976 700 942 1,000 2,085 62 I I I I I I I I I I I I - I I I I I I I I J I I I 'I I I I 'I I ,: iJ I 'I I I I '" SPECIAL REVENUE FUNDS Fund Descriptions Library Fund The Library Fund is used to account for the resources necessary to provide the educational, cultural and recreational activities of the Glenview Public Library. Federal Revenue Sharing Fund The Federal Revenue Sharing Fund provides accountability for Federal Revenue Sharing monies received under Title I of the State and Local Fiscal Assistance Act of 1972. Illinois Municipal Retirement Fund The Illinois Municipal expenditures associated employees. This fund Contributions. Retirement Fund is used to with providing disability and also provides the employer account pens10n with a Motor Fuel Tax Fund for the benefits portion revenue and for Glenview of F.I.C.A. The Motor Fuel Tax Fund is used to account for the act1v1t1es involved with street maintenance and construction. Financing is provided by the government's share of State gasoline taxes. State law requires these gasoline taxes to be used to maintain streets. Cable TV Fund The Cable Television Fund is used to account for the financial activity of the newly created public access cable system. Any governmental body or not-for-profit community organization will be permitted to broadcast public information or educational programming. The cable television management and staff is under the direct control of the Village of Glenview Board of Trustees. Refuse and Recycling Fund The Refuse and Recycling Fund is used to account for the financial activity of the community wide recycling program. The program is designed to license and monitor prime scavenger services operating in the residential areas of the government. Their activities will mainly be involved with the collection and disposition of recyc lable items. VILLAGE OF GLENVIEW, ILLINOIS CABLE TV FUND SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1989 Budget General Government Regular Salaries Contractual Professional Services Postage Telephone Dues, Subscriptions, Memberships Maintenance of Equipment Rentals Travel Expense Training books, Pamphlets, Materials Operating Materials and Supplies Computer Supplies Machinery and Equipment Furniture and Fixtures $27,888 400 430 400 6,000 750 1)000 400 300 3,000 800 Total Expenditures $41)368 II I I, I I :1 I 1/ I ,I I I' I I I 'I I, I I VILLAGE OF GLENVIEW, ILLINOIS REFUSE AND RECYCLING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1989 Budget Revenues Interest Expenditures General Government Contractual Professional Services Printing, Binding and Publication Total Expenditures Excess (Deficiency) of Revenues over Expenditures Fund Balance January I December 31 See accompanylng Notes to the Financial Statements. 73 Actual $ 241 11 , 200 2,433 13,633 03,392) $03,392) I I I I, I I I I I I I I I I I I I I I DEBT SERVICE FUNDS I I I I I I I I I I I I I I I I I, I I DEBT SERVICE FUNDS Fund Descriptions Police Administration Building Bond Series of 1972 This issue in the amount of $1,400,000 was used to construct the Police Administration Building. 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. Corporate Purpose Bonds Series 1989 This 1ssue 1n the amount of $8,000,000 improvements, among which was storm improvements. and water related project s. was sold to sewers, land finance various acquisition, capi tal pavement 00 ~~ I~ ri! ~_ ~~ ~- ~~ f8M !'s!il ~~ ~~ ~I!l > CIl - III <-J ~ Q) ~i CIlg:) I-l Q) 0\ Q 'E .... _ t:::' ~ I-l 4-l ar:l< c930 ~ CIl~ ~ 'E .~ ~ ~SI-l4-l ...:l c93 0 e;- CIl ~ ~ 'E .~ ~ ~~I-l4-l ...:l c93 0 CIl c;l eP.~ 0\ p,.~ I-l .... 'd .... c93 ~ .... .... ~~'E~ ~ I:l .S CIl <-J bD Q) Q) III i=:.... 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I i "'" ~ "'''' '" "" "" ~!C U ~~ 0 ~ '" '" ~~ (I)- (I)- ~ ,I ~I ~ ~ II "'...", '" 8O~ ~ '" '" '" '" ;:t ~~q '" ~ ~ -c ~ :;:j", N. q~ ": "" "'. :;::l~ ('f"'\Lt"'\\C"" O-c -C ~ ~ -c. -C "'" Si ... NO '" .... -C ... ... i lil.... <il- N .... .... "" "" .... .... 0 I &'" ~ ~ ~ ~08 ~ ~ ~ :g] ~ "" ~ ~... O. -C. N ~ gi ... .... .... ~ J -C "'" ::2 "'" "'" <il- (l)- I "'O~ ... ~~~ ~ ... ~ ~ ~ ... IS N]/ "'''' ~ ~ ~ -:. M.. .. g.; ~. .~ ,..... """ :::('f"'IClO N '" ... ... ~ !::; al 'iil ~2: ~ N 9 .... .... .... .... .... oj .~ t:;:j.... (I)- (I)- ... I .... '" :;::l 0 j al..... ~ ~ ~ ~~~ 8 8 ~ ilil]~ N ... ... i g.; .. <0 N '" ... ... OJ .... 9 .... .... (I)- (I)- .... .. I '8 .... u .. J '" '" -- '" ~ ~ ... ~ .a9 J! j ",.s!~ ~ ~ '" '" ... I ... u JlJl 0 ~ ~~ ... c .... ~ ~ ~ !l fj l'l'" ... III '" i ~ 0 OJ ... ~Jl~~ gPf ~~ ~ .~ ",:;:j --gj J~ j ... ~i ~~ ~ I I ! OJ .... e-e- OJ~ .... ~ '" 2P I .~ ...... 'a ~ ~ ~ ~ .~ ~ '9 '9 .... 's', t'~...~ "'.u 1... 0 fzl .~ "8 .... C al MS' ~ iZ.';:: "" c ~ E.... Xl ~ ~ ~i ];~~ '" ~ '" '" ~4 ~ ~ ! .ff S ~ '" '-'","8 OJ ...c?l~t&l'd . ~ ~ al j "'~ ! "i ~~~~i :;:j',S F' '" '" '" .. ... gj~ .lIJ ~.... ~ u ~ '" .... ~ ~ ~ &~ :f u l'I! I c~p,. ~ ~ !~~& ~ ~~ ! ~ 0 al tl c9:I I I I I I I I I I I I I I I I I I I I I CAPITAL PROJECT FUNDS I I I I I I I I I I I I I I I I I I I CAPITAL PROJECTS FUNDS Fund Descriptions Capital Equipment Replacement Fund The Capital Equipment Replacement Fund is used to account for the funds annually set aside for the eventual replacement of certain capital equipment. Capital Projects Fund The Capital Projects Fund is used to account for revenues and expenditures involved with all other Capital Improvements throughout the government. Bond Fund Series 1989 The Bond Fund Series 1989 1S used to temporarily account for the proceeds received from the Corporate Purpose Bond Series of 1989. VlI.I.AGE OF GLENVThW, Ill.IIDIS CAPITAL PROJECTS FUNDS a::MBINm; BAIANCE SHEET DECEMBER 31, 1989 Capital Equiprent Capital Fom Fund Totals Replacement Projects Series 1989 1989 1988 ASSETS Cash am Investments $1,582,775 $1,651,039 $7,330,374 $10,564,188 $2,857,466 lAJe fran Qher F\nds 368,899 368,899 460,712 Total Assets $1,951,674 $1,651,039 $7,330,374 $10,933,087 $3,318,178 LIABILITIES AND FUND BALANCES Liabili ties Accam ts Payab Ie $ 231,837 $ 231,837 $ 25,893 Qher Payables $ 7,675 7,675 Due to Other FUnds 527,292 32,847 560,139 67,153 ldvances fran Qher F\nds $ 407,458 60,155 467,613 530,346 Total Liabilities 407,458 819,284 40,522 1,267,264 623,392 F\nd Balances Reserved for Capital InprClllallents 1,544,216 831,755 7,289,852 9,665,823 2,694,786 Total Liabilities am FUnd Balances $1,951,674 $1,651,039 $7,330,374 $10,933,087 $3,318,178 ~e acconpanying J:btes to the Financial &atarents. 76 I I I I I I I I I I I I I I I I I I I I I I I I 'I I I , I I I I I I I I I I PROPRIETARY FUND TYPES I I I I I I I I , I I I I I I I I I I ENTERPRISE FUNDS I I I I I I I I , I I I I I I I I I I ENTERPRISE FUNDS Fund Descriptions Waterworks - East Fund The Waterworks - East Fund 1S used to account for the provision of water and sewer service to the residents of east Glenview. All activity necessary to provide such services is accounted for in this fund including, but not limited to, Administration (Director of Public Works), Operation, Maintenance, Financing and related Debt Service, and Billing and Collection. Waterworks - West Fund The Waterworks - West Fund is used to account for the provision of water service to the residents of west Glenview and the unincorporated area adjacent to the western boarder of the government. All 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. Sewerage Fund The Sewerage Fund is used to account for the funds necessary to provide sanitary sewer service to both incorporated and unincorporated Glenview customers. Commuter Parking Lot Fund The Commuter Parking Lot Fund accounts for the activity involved with, but not limited to, the Administration (Finance Director), sale of permits and maintenance of the commuter parking facilities within the government. VILLAGE OF GLENVIEW, ILLINOIS ENTERPRISE FUNDS COMBINING BALANCE SHEET DECEMBER 31, 1989 LIABILITIES AND FUND EQUITY Current Liabilities Accounts Payable $ 172,699 $ 596 $ 2,530 $ 175,825 $ 288,464 Compensated Absences Payable 10,777 10,777 11 ,000 Due to Other Funds 183,899 8,673 192,572 48,820 367,375 596 11 ,203 379,174 348,284 Long-Term Liabilities General Obligation Bonds Payable 96,584 6,214,390 6,310,974 6,894,040 Total Liabilities 463,959 6,214,986 11,203 6,690,148 7,242,324 Fund Equity Contributed Capital 18,291 20,652 20,652 Retained Earnings 3,590,905 3,999,569 2,318,652 $ 330,134 10,236,899 9,154,594 Total Fund Equity 3,609,196 3,999,569 2,318,652 330 , 134 10,257,551 9,175,246 Total Liabilities and Fund Equity $ 4,073,155 $10,214,555 $2,329,855 $ 330, 134 $16,947,699 $16,417,570 See accompanying Notes to the Financial Statements. 78 I I I I I I I I I I I I I I I I I I I I I I I I I Operating Revenues Charges for Services Water and Sewer Charges Meter Fees Water and Sewer Connection Charges Water Meters and Remote Reader Water Meter Repair Charges Parking Decals Administrative Support Charges Miscellaneous Total Operating Revenues I I I Operating Expenses Administration Operations Depreciation and Amortization Total Operating Expenses I Operating Income I Nonoperating Revenues (Expenses) Interest Income Interest Expense and Fiscal Charges Income before Operating Transfers .1. Operating Transfers In Operating Transfers (Out) I Net Income (Loss) Retained Earnings January 1 I Prior Period Adjustments Adjusted Balances Residual Equity Transfer (Out) I December 31 I I I ,see 79 VILLAGE OF GLENVIEW, ILLINOIS ENTERPRISE FUNDS COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS FOR THE YEAR ENDED DECEMBER 31, 1989 Commuter Waterworks Waterworks Parking Totals - East - West Sewerage Lot 1989 1988 $2,181,334 $2,663,225 $ 539,664 $ 5,384,223 $5,466,644 $ 11,081 11,081 10,634 165,293 700 5,030 171,023 93,510 9,695 98,122 107,817 7,773 358 43 401 81,269 81,269 62,866 113,578 49,301 162,879 113,578 63,457 5,021 68,478 175,865 2,533,715 2,811,391 549,715 92,350 5,987,171 5,930,870 262,235 436,823 96,539 60,000 855,597 735,744 1,837,320 1,006,681 193,234 14,552 3,051,787 2,783,887 83,064 231,563 38,207 357 353,191 351,895 2,182,619 1,675,067 327,980 74,909 4,260,575 3,871,526 351,096 1,136,324 221,735 17,441 1,726,596 2,059,344 46,652 7,195 9,250 18,521 81,618 26,875 0,310) (398,685) (405,995) (439,039) 39,342 (391,490) 9,250 18,521 ( 324,377) (412,164) 390,438 744,834 230,985 35,962 1,402,219 1,647,180 75,000 75,000 161,372 078,148) 009,785) (46,981) (60,000) (394,914) (425,259) 003,148) 009,785) (46,981) (60,000) (319,914) (263,887) 287,290 635,049 184,004 (24,038) 1,082,305 1,383,293 3,303,615 3,364,520 2,134,648 354,172 9,154,594 7,652,387 148,533 3,303,615 3,364,520 2,134,648 354,172 9,154,594 7,800,920 (29,619) 3,303,615 3,364,520 2, 134 , 648 354, 172 9,154,594 7 , 771 , 301 $3,590,905 $3,999,569 $2,318,652 $330,134 $10,236,899 $9,154,594 accompanying Notes to the Financial Statements. I I I VILLAGE OF GLENVIEW, ILLINOIS WATERWORKS - EAST FUND STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS - BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1989 I I Operating Revenues Charges for Services Water Charges Water Meter Repair Charges Water Connection Charges Water Meters and Remote Readers Administrative Support Miscellaneous Late Payment Fees Brass Fittings Water for Construction Turn On Charge Recapture Agreements Other Total Operating Revenues I I I I Operating Expenses Excluding Depreciation Administration Operations Supply and Metering Pumping Station Distribution System Overhead Total Operating Expenses Excluding Depreciation I I Operating Income before Depreciation Depreciation I Operat ing Income Nonoperating Revenues (Expenses) Interest Income Interest Expense and Fiscal Charges I Income before Operating Transfers I Operating Transfers In (Out) Waterworks - West Fund Illinois Municipal Retirement Debt Service Fund I Net Income I Retained Earnings January 1 I Decembe r 31 I I See accompanying Notes to the Financial Statements. Budget $2,142,000 12,000 113,578 20,000 3,500 4,000 1,500 5,000 6,000 2,307,578 309,103 1,019,440 122,359 194,463 322,500 1,967,865 339,713 339,713 3,000 (42,149) 09,149) 300,564 75,000 (21,120 05,278) 38,601 $ 339,165 81 Actual $2,181,334 358 165,293 9,695 113,578 24,731 6,340 3,040 2,625 8,106 18,615 2,533,715 262,235 1,329,362 81,718 201,722 224,518 2,099,555 434,160 83,064 351,096 46,652 (7,310) 39,342 390,438 75,000 (21,121) 057,027) 003,148) 287,290 3,303,615 $3,590,905 I I I I I I I I I I I I I I I I I I I VILLAGE OF GLENVIEW, ILLINOIS SEWERAGE FUND 89 STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS - BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1989 Operating Revenues Charges for Services Sewer Charges Sewer Connection Charges Miscellaneous Other Total Operating Revenues Operating Expenses Excluding Depreciation Administration Operations Pumping Station Collection Sump Pump Inspection Total Operating Expenses Operating Income before Depreciation Depreciation Operating Income Nonoperating Revenue Interest Income Income before Operating Transfers Operating Transfers (Out) Illinois Municipal Retirement Fund Debt Service Ne t Inc ome Retained Earnings January I December 31 See accompanY1ng Notes to the Financial Statements. Budget Actual $ 583,630 $ 539,664 5,030 5,021 583,630 549,715 99,050 96,539 24,832 9,168 121,215 87,912 172,510 96 , 154 417,607 289,773 166,023 259,942 38,207 166,023 221,735 2,700 9,250 168,723 230,985 (35, 947) (35,947) OI,034) OI,034) (46,981) (46,981) $ 121,742 184,004 2,134,648 $2,318,652 92 I 0 N 00 ~ ~~ C"\ ~ ~ ~ gjl C1\ ~ :;l!!CJl..... \0 ~ \0 .... I ~~ ~ \0 \0 \0 ,.... ~ .... .... <n- <n- .... I C"\ CJl 0 0 ..j" r:t Q) to ~ 0 ,.... j~ 0 ,.... O~ .... 0 0 N I ,.... ~ .... ~ &8~ <n- <n- 6 CJl I '''; ~ ~ ; '''; U Q) ~ ~ .,.; I ~ ~ & al ~ g co 8 ..... 0 ,.... ,.... I e '''; ~ ~ 0 CJl "1. C"\ N 'g ~ ~ ~ U N g) \0 ~ ~ ~ <n- <n- ~ ~ I u ..... tI.l ~ .... 8 H ~ gj >. 0 ,.... ,.... ~ ~ ..... ~ .... ~~ C"l j ~ ,....~ ,.... --t S I 00 fX~ ..j" C"\ ~ &8~ \0 N I 00 ~ ~ <n- ~ ~ ~ i ~ ~ .... 0 ~ ..j" I C"\ ~ .... ~ CJl .... --t Q) ~ ~ ~ ji ,.... ,.... C"l ~ N ,.... N ~ .... ,.... ~ ~ r:s &8 u N I ~ <n- <n- I ~ ~ CJl ~ ; I tI.l ~ '''; CJl ~ ~ & ~ I ~ g 00 fi ,.... '''; N~ ~ '''; C1\ C"\ ~ ..j" C"l I $ .... ~ ~ '" Ji ~~ I ,.... ,.... C1\ N N ~ .... &8..!ll ~ N <n- <n- I 6 I .,.; ~ ~ Ctl ~ ~ [ rea ~ I ~ '''; eS ~ ::l ;j $ I I I I I I I I I I I I I I I I I I I I VILLAGE OF GLENVIEW, ILLINOIS COMMUTER PARKING LOT FUND 93 STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS - BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1989 Operating Revenues Charges for Services Meter Fees Parking Decals Total Operating Revenues Operating Expenses Administration Operations Depreciation and Amortization Total Operating Expenses Operating Income (Loss) Nonoperating Revenues Interest Income Income (Loss) Before Operating Transfers Operating Transfers (Out) Capital Projects Fund Net (Loss) Retained Earnings January I December 31 See accompanY1ng Notes to the Financial Statements. Budget Actual $ 11,000 61,000 72 ,000 $ 11 ,081 81,269 92,350 60,000 60,000 22,700 14,552 357 82,700 74,909 00,700) 17,441 8,000 18,521 (2,700) 35,962 (60,000) (60,000) $(62,700) (24,038) 354, 172 $330,134 VILLAGE OF GLENVIEW, ILLINOIS COMMUTER PARKING LOT FUND SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1989 Administration Administration - Corporate Fund Operations Contractual Professional Services Printing, Binding and Publications Power and Light Postage Rentals Maintenance Materials Operational Materials Total Operations Budget Actual $60,000 $60,000 $ 700 $ 65 500 1,900 1,815 300 212 15,000 10,320 300 157 4~000 1,983 $22,700 $14,552 94 I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I 95 VILLAGE OF GLENVIEW, ILLINOIS COMMUTER PARKING LOT FUND SCHEDULE OF FIXED ASSETS AND DEPRECIATION FOR THE YEAR ENDED DECEMBER 31, 1989 Balances Balances January 1 Additions Retirements December 31 ASSETS Leasehold Improvements $203,309 $203,309 Machinery and Equipment 2,820 2,820 206,129 206,129 ACCUMULATED DEPRECIATION/ AMORTIZATION Leasehold Improvements $104,984 $ 75 $105,059 Machinery and Equipment 987 282 1,269 105,971 $357 106,328 Net Asset Value $100,158 $ 99,801 I I I I I I I I I I I I I I I I I I I INTERNAL SERVICE FUNDS I I I I I I I I I I I I I I I I I I I INTERNAL SERVICE FUNDS Fund Descriptions Municipal Equipment Repair Fund The Municipal Equipment Repair Fund ~s used and maintaining all vehicles of the Village. fuel, and fixed overhead of the government's to account for the costs of These costs include labor, repair facility. repa1.r1.ng material, Insurance Fund The Insurance Fund is used to account for the financial activity of the govern- ment I s entire insurance program. In addition to conventional primary insurance, the government is involved in self-insurance. Glenview 1.S a member of the High-Level Excess Liability Pool (HELP) which provides excess liability coverage. Also, the government provides health and life insurance by participating in the (IPBC) Intergovernmental Personnel Benefit Cooperative. ASSETS Current As se t s Cash and Investments Receivables - Accounts Investment in HELP Other Assets Total Assets LIABILITIES AND FUND EQUITY Current Liabilities Accounts Payab le Fund Equity Retained Earnings Total Liabilities and Fund Equity VILLAGE OF GLENVIEW, ILLINOIS INTERNAL SERVICE FUNDS COMBINING BALANCE SHEET DECEMBER 31, 1989 Municipal Equipment Repair $107,791 $107,791 $ 13,010 94,781 $107,791 $261,769 $369,560 $256,820 948 948 2,980 116,838 116,838 44,838 222,007 222,007 87,011 $601,562 $709,353 $391,649 Insurance $601,562 $601,562 See accompanY1.ng Notes to the Financial Statements. Totals 1989 1988 $ 13,010 $ 21,641 696,343 370,008 $709,353 $391,649 96 I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I 97 VILLAGE OF GLENVIEW, ILLINOIS INTERNAL SERVICE FUNDS COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS FOR THE YEAR ENDED DECEMBER 31, 1989 Municipal Equipment Totals Repair Insurance 1989 1988 Operating Revenues Charges for Services $421,920 $1,429,663 $1,851,583 $495,497 Miscellaneous 15,918 111,376 127,294 139,375 Total Operating Revenues 437,838 1 , 541 , 039 1,978,877 634 , 872 Operating Expenses Operations 469,837 1,279,871 1,749,708 397,113 Operating Income (Loss) 01,999) 261,168 229,169 237,759 Nonoperating Revenues Interest Income 2,581 22,585 25,166 4,166 Net Income - HELP Joint Venture 72 ,000 72 ,000 44,838 2,581 94,585 97,166 49,004 Net Income (Loss) (29,418) 355,753 326,335 286,763 Retained Earnings January 1 124,199 245,809 370,008 83,245 December 31 $ 94,781 $ 601,562 $ 696,343 $370,008 See accompanY1.ng Notes to the Financial Statements. VILLAGE OF GLENVIEW, ILLINOIS INTERNAL SERVICE FUNDS STATEMENT OF CHANGES IN FINANCIAL POSITION FOR THE YEAR ENDED DECEMBER 31, 1989 Municipal Equipment Repair Insurance Totals 1989 Cash Was Provided By Operations Net Income Decrease in Current Assets Increase in Current Liabilities $355,753 $355,753 2,980 8,398 367,131 $ 2,980 8,398 11,378 355,753 Cash Was Used To Fund Operations Net Loss Increase Current Assets Decrease Current Liabilities 29,418 29,418 207 ,944 207 ,944 17,029 17,029 29,418 224,973 254,391 (18,040) 130,780 112,740 Net Increase (Decrease) Cash and Investments January 1 125,831 130,989 256,820 December 31 $107,791 $261,769 $369,560 See accompanY1.ng Notes to the Financial Statements. 98 I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I 99 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, 1989 1989 1988 Budget Actual Actual Operating Revenues Charges for Services $410,377 $421,920 $408,486 Miscellaneous 4,000 15,918 9,284 Total Operating Revenues 414,377 437,838 417,770 Operating Expenses Operations 457,795 469,837 380,084 Operating Income (Loss) (43,418) 01,999) 37,686 Nonoperating Revenues Interest Inc orne 3,500 2,581 3,268 Net Income (Los s) $09,918) (29,418) 40,954 Retained Earnings January 1 124,199 83,245 December 31 $ 94,781 $124,199 See accompany~ng ~otes to the Financial Statements. VILLAGE OF GLENVIEW, ILLINOIS MUNICIPAL EQUIPMENT REPAIR FUND SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL FOR THE YEAR ENDED DECEMBER 31, 1989 Budget Operations Regular Salaries Overtirne Salaries Ternporary Salaries Longevity Pay Contractual Professional Services Maintenance of Equipment Maintenance of Buildings Uniform Allowance Fuel Motor Vehicle Supplies Cleaning and Household Supplies Maintenance Materials - Equipment Maintenance Materials - Buildings Small Tools and Equiprnent Equipment Replacernent and Repairs Machinery and ~quipment Insurance $140,619 3, 132 5,850 1,550 5,400 26,000 3,000 3,100 110,000 26,500 3,000 78,000 2,500 3,000 13,619 2,000 30,525 Total Operations $457,795 I I I I I I I I I I I I I I I I I I I 101 VILLAGE OF GLENVIEW, ILLINOIS INSURANCE FUND STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS FOR THE YEAR ENDED DECEMBER 31, 1989 1989 1988 Actual Budget Actual Operating Revenues Miscellaneous Returned Premiums Charges for Services Total Operating Revenues $ 47,100 1,424,268 1,471,368 $ 111,376 1,429,663 1,541,039 $130,091 87,011 217,102 Operating Expenses Operations Insurance Prerniurns 1,478,368 1,279,871 17,029 (7,000) 261,168 200,073 5,000 22,585 898 72 ,000 44,838 5,000 94,585 45,736 $ (2,000) 355,753 245,809 245,809 $ 601,562 $245,809 Operating Incorne (Loss) Nonoperating Revenues Interest Income Net Income - HELP Joint Venture Net Income (Loss) Retained Earnings January 1 Decernber 31 See accompanY1ng Notes to the Financial Statements. I I I I I I I I I I I I - I I I I I I FIDUCIARY FUND TYPES I I I I I I I I I I I I I I I I I I I TRUST AND AGENCY FUNDS 'I I I I I I If I I I I ~ I I, Ii f ( I 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 govern- rnent by building contractors working within the governrnent's lirnits. Interest earned on escrow deposits is annually transferred to the Corporate Fund. Deposit Fund The Deposit Fund is used to account for money on deposit with the government being held on a ternporary basis such as security deposits for use of the government's equiprnent. PENSION TRUST Police Pension Fund The Police Pension Fund is used to account for the resources necessary to provide disability and retirernent benefits to personnel of the Glenview Police Department. Firernen's Pension Fund The Fi rernen 's Pens ion Fund is used provide disability and retirement Department. for the personnel to account benefits to resources necessary to of the Glenview Fire AGENCY Deferred Compensation Plan Fund The Deferred Cornpensation Plan Fund is used to account for salary deductions held by the government for certain government employees. The De ferred Compensat ion is available to employees upon termination or retirement. Special Service Area Funds These funds account for various special service area bond issues. 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, 1989 Operating Revenues Taxes Property Taxes Replacement Taxes Foreign Fire Insurance Tax Contributions - Ernployees' Interest Miscellaneous Gain on Sale of Investments Other Total Operating Revenues Operating Expenses Pensions and Refunds Miscellaneous Contractual Professional Services Total Operating Expenses Income before Operating Transfers In Operating Transfers In Net Income Fund Balance January 1 December 31 See accompanY1ng Notes to the Financial Statements. Budget $ 33,471 7,250 28,000 120,033 94,000 282,754 94,990 1,225 96,215 186,539 15,243 $201,782 Actual 108 I I I I I I 'I I I I I I I I I I I I I $ 37,847 1,193 29,964 124,872 581,117 212,990 263 988,246 142,093 2,900 144,993 843,253 15,243 858,496 7,770,501 $8,628,997 I I I I r I I I I I I I I I I I I I I VILLAGE OF GLENVIEW, ILLINOIS GENERAL FIXED ASSETS ACCOUNT GROUP SCHEDULE OF GENERAL FIXED ASSETS - BY SOURCE DECEMBER 31, 1989 GENERAL FIXED ASSETS Land Buildings and Improvernents Equipment Furniture Office Equipment INVESTMENT IN GENERAL FIXED ASSETS General Revenues Bond Issues 1989 $ 2,705,604 11,818,977 5,470,469 537,117 315,235 $20,847,402 $14,669,664 6,177,738 $20,847,402 109 1988 $ 1,981,758 11,770,290 5,311,109 537,117 301,010 $19,901,284 $14,447,392 5,453,892 $19,901,284 ~ ~ ~~ ~ ~~ ~~ ~ ~~ I~ Ii i~ ~~ >! 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M 00 ~ :2 g .,-l ol-J t1l Q) l-I c:: U 0 &'j t1l 'Eb t1l 00 .,-l Q) c:: ~l -:;<1: u U .,-l ..... ~ ...... t1l ol-J e9 N N M ~ M N ~ N ~ ...... ot o N -u>- ~ ~ M ~ M N ~ ~ ...... M -u>- ~ - M ~ \0 ~ N ...... ..... ...... ~ ...... M ~ -u>- ...... ...... ..... ~ ~ R ~ ~ -u>- ~ ...... M ~ 8 - ~ -::t ...... ...... ~ 00 - 00 ..... ...... -u>- ~ 8 ~ S \O~ S ...... N -u>- 00 ol-J ill ~ .] ~ ca ol-J e9 110 I I I I I I I I I I I I I I I I I I I ~I I I I, 1\' I I , I I I I I I I I I I I VILLAGE OF GLENVIEW, ILLINOIS GENERAL FIXED ASSETS ACCOUNT GROUP SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS - BY FUNCTION AND ACTIVITY FOR THE YEAR ENDED DECEMBER 31, 1989 111 I I I I I I II I I I I I I I I I I I I GENERAL FIXED ASSETS ACCOUNT GROUP I I I I I I I I I I I I I I I I I I I GENERAL LONG TERM DEBT ACCOUNT GROUP I I I I I I I I I I I I I I I 'I I I I GENERAL UID-TERM DEBT PAYABLE General Obligation Bonds Payable VILlAGE OF GIENVIEW, IILOOIS GENERAL lDN}-TERM DEBT ACOOUNl' GROUP SCHEDUI.E OF GENERAL UID-TERM DEBT DECEMBER 31, 1989 $150,000 $2,200,000 $8,000,000 $10,350,000 112 $2,875,000 I I I I I I I I 'I I I I I I I I I I I SUPPLEMENTARY DATA I I I I I I I I I I I I I I I I I I, I 113 VILLAGE OF GLENVIEW, ILLINOIS ILLINOIS MUNICIPAL RETIREMENT FUND REQUIRED SUPPLEMENTARY INFORMATION ANALYSIS OF FUNDING PROGRESS DECEMBER 31, 1989 (1) (4) (6) Net Assets Unfunded Unfunded Pension Available (2) 0) Pension (5) Benefit Obligation for Benefits Pension Percentage Benefit Annual as a Percentage Fiscal (Lower of Cost Benefit Funded Obligation Covered of Covered Payroll Year or Market) Obligation (1) ~ (2) (2) - (1) P ayro 11 (4) ~ (5) 1987 $2,930,396 $4,635,234 63.20% $1,704,838 $3,705,506 46.00% 1988 2,933,046 5,050,499 58.07 2,117,453 4,005,547 52.90 1989 3,527,092 5,869,171 60.10 2,342,079 4,426,475 52.96 (During the implementation tranSl.t1on period all information required l.S presented for as many years as is available.) Analysis of the dollar amounts of net assets available for benefits, pension benefit obligation, and unfunded pension benefit obligation in isolation can be rnisleading. Expressing the net assets available for benefits as a percentage of the pension benefit obligation provides one indication of funding status on a going-concern basis. Analysis of this percentage over time indicates whether the systern is becorning financially stronger or weaker. Generally, the greater this percentage, the stronger the PERS. Trends in unfunded pension benefit obligation and annual covered payroll are both affected by inflation. Expressing the unfunded pension benefit obligation as a percentage of annual covered payroll approxirnate1y adjusts for the effects of inflation and aids analysis of progress made in accumulating sufficient assets to pay benefits when due. Generally, the smaller this percentage, the stronger the PERS. VILLAGE OF GLENVIEW, ILLINOIS POLICE PENSION FUND REQUIRED SUPPLEMENTARY INFORMATION ANALYSIS OF FUNDING PROGRESS DECEMBER 31, 1989 (4 ) ( Unfunded (6 ) (1) Assets in (Unfunded Assets in Net Assets Excess of) Excess of) Pension Available ( 2) 0) Pension ( 5) Benefit Obligation for Benefits Pension Percentage Bene fit Annual as a Percentage Fiscal (Lower of Cost Benefit Funded Ob 1 igation Covered of Covered Payroll Year or Market) Obligation 0) ~ (2) (2) - 0) Payroll (4) ~ (5) 1980 $1,853,458 $5,114,400 36.2% $ 3,260,942 $1,257,153 259.40% 1981 2,232,582 5,482,956 40.7 3,250,374 1,269,927 255.90 1982 2,695,528 6,120,581 44.0 3,425,053 1,517,151 225.70 1983 2,930,685 7,065,367 41. 5 4,134,682 1,618,230 255.50 1984 3,610,426 8,059,323 44.7 4,448,897 1,686,606 263.70 1985 4,789,889 8,398,321 57.0 3,608,432 1,806,170 199.70 1986 5,723,428 9 ,282,882 61.6 3,559,454 1,888,303 188.50 1987 8,223,642 7,999,650 102.8 (223,992) 2,040,100 (11.14) 1988 8,949,779 7,920,498 113.0 (1,029,281) 2,089,055 (49.27) 1989 10,095,845 8,550,352 118.0 (1,545,493) 2,282,311 (67.70) Analysis of the dollar amounts of net assets available for benefits, penSl.on benefit obligation, and unfunded pension benefit obligation in isolation can be misleading. Expressing the net assets available for benefits as a percentage of the pension benefit obligation provides one indication of funding status on a going-concern basis. Analysis of this percentage over time indicates whether the s ys tem is becoming financially stronger or we aker. Generally, the greater this percentage, the stronger the PERS. Trends in unfunded pension benefit obligat ion and annual covered payroll are both affected by inflation. Expressing the unfunded pension benefit obligation as a percentage of annual covered payroll approximately adjusts for the effects of inflation and aids analysis of progress made in accumulating sufficient assets to pay benefits when due. Generally, the smaller this percentage, the stronger the PERS. 114 I I I I I I I I I I I I I I I I I I I I I I I I I I I, I , I I I I I I I I I 115 VILLAGE OF GLENVIEW, ILLINOIS FIREMEN'S PENSION FUND REQUIRED SUPPLEMENTARY INFORMATION ANALYSIS OF FUNDING PROGRESS DECEMBER 31, 1989 (4 ) (Unfunded (6 ) (1) Assets in (Unfunded Assets in Net Assets Excess of) Excess of) Pension Available ( 2) (3) Pension ( 5) Benefit Obligation for Benefits Pension Percentage Benefit Annual as a Percentage Fiscal (Lower of Cost Bene fi t Funded Obligation Covered of Covered Payroll Year or Market) Obligation (1) ~ (2) (2) - 0) Payroll (4) ~ (5) 1980 $1,005,466 $2,296,401 43.8% $ 1,290,935 $ 941,213 13 7. 1% 1981 1,531,988 3,161,060 48.4 1,629,072 987,432 164.9 1982 1,987,196 3,041,460 65.3 1,054,264 1,081,135 97.5 1983 2,297,281 3,648,777 62.9 1,351,496 1,155,110 117.0 1984 2,959,512 4,230,709 69.9 1,271,197 1,188,723 106.9 1985 3,524,611 4,646,789 75.8 1,122,178 1,235,342 90.8 1986 4,706,877 5,479,110 85.9 772,233 1,276,426 60.5 1987 7,114,349 5,993,554 118.7 0,120,795) 1,285,510 (87.21) 1988 7,770,501 5,891,304 131.9 0,879,197) 1,304,443 044.06) 1989 8,631,747 5,618,758 153.6 0,012,989) 1,513,600 099.06) Analysis of the dollar amounts of net assets available for benefits, pension benefit obligation, and unfunded pension benefit obligation in isolation can be misleading. Expressing the net assets available for benefits as a percentage of the pension benefit obligation provides one indication of funding status on a going-concern basis. Analysis of this percentage over time indicates whether the system is becoming financially stronger or weaker. Generally, the greater this percentage, the stronger the PERS. Trends in unfunded pension benefit obligation and annual covered payroll are both affected by inflation. Expressing the unfunded pension benefit obligation as a percentage of annual covered payroll approximately adjusts for the effects of inflation and aids analysis of progress made in accumulating sufficient assets to pay benefits when due. Generally, the smaller this percentage, the stronger the PERS. *** Not Available I I I I II I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I 117 VILLAGE OF GLENVIEW, ILLINOIS POLICE PENSION FUND REQUIRED SUPPLEMENTARY INFORMATION REVENUES BY SOURCE AND EXPENSES BY TYPE DECEMBER 31, 1989 Employer Contr ibut ion s Revenues by Source as a Percentage Fiscal Employee Employer Investrnent of Covered Year Contributions Contributions Income Totals Payroll 1980 $103,715 $250,310 $ 191,143 $ 545,168 19.91% 1981 104,769 329,621 231,609 665,999 25.96 1982 125,165 334,404 283,663 743,232 22.04 1983 133,504 441,505 345 , 1 71 920,180 27.28 1984 139,145 495,023 406,152 1,040,320 29.35 1985 149,009 577,336 465,639 1,191,984 31.96 1986 155,785 530,381 835,810 1,521,976 28.09 1987 173,746 474,199 805,820 1,453,765 23.24 1988 188,015 471 ,902 651,546 1,311,463 22.59 1989 205,408 152,076 1,159,038 1,516,522 6.60 Expenses by Type Fiscal Adrninistrative Refunds Year Benefits Expenses and Other Totals 1980 $122,078 $ 5,726 $127,804 1981 146,947 15,284 162,231 1982 196,623 2,105 198,728 1983 238,965 1,475 240,440 1984 264,787 805 265,592 1985 257,364 1,083 258,447 1986 290,240 15,203 305,443 1987 305,476 4,384 $ 11,312 321,172 1988 330,573 1,002 112,980 444,555 1989 364,756 5,185 369,941 VILLAGE OF GLENVIEW, ILLINOIS FIREMEN'S PENSION FUND REQUIRED SUPPLEMENTARY INFORMATION REVENUES BY SOURCE AND EXPENSES BY TYPE DECEMBER 31, 1989 Employer Contributions Revenues by Source as a Percent age Fiscal Employee Ernployer Investment of Covered Year Contributions Contributions Income Totals Payroll 1980 $ 72 , 944 $196,431 $131,956 $ 401,331 20.87% 1981 76,526 250,401 184,253 511,180 25.35 1982 83 , 788 254,649 220,930 559,367 23.55 1983 89,521 327,516 276,688 693,725 28.54 1984 92,126 336,739 347 , 834 776,699 28.33 1985 95,739 338,605 418,232 852,576 27,41 1986 98,923 342,227 772,208 1,213,358 26.81 1987 111,604 290,435 843,509 1,245,548 22.59 1988 120,661 288,177 532,880 941,718 22.09 1989 124,872 39,040 824,334 988,246 5.90 Expenses.by Type Fiscal Administrat ive Refunds Year Benefits Expenses and Other Totals 1980 $32,501 $ 7 ,221 $ 39,722 1981 30,932 25 30,957 1982 30,931 680 31,611 1983 30,270 1,225 31,495 1984 62,397 625 63,022 1985 65,564 2,236 67,800 1986 93,919 625 94,544 1987 94,748 858 $32,813 128,419 1988 93,679 808 19,551 114,038 1989 142,093 2,900 144,993 118 I I I I I I I I I I I I I I I I I I I I 119 I VILLAGE OF GIENVIEW, IILOOIS <XlMBINED SCHEDULE OF CASH AND INVES'lMENI'S I DECEMBER 31, 1989 I Cash Glenvi. eN on St ate CErtificates GJverrmmt Totals Ft.1IXi Harrl Bank of Deposit Securities 1989 1988 I General Corporate $2,195 $ 1,919,774 $ 400 ,000 $ 2,321,%9 $ 2,234,287 I Special ReveOle Library $ 300 $ 672,618 $ 672,918 $ 488,817 Feder al Revenue 7,775 7,775 I Shar~ 7,384 Illinois MUnicipal Retiraxent 23,703 23,703 137,686 I M>tor fuel TalC 421,128 421,128 385,300 Cab le 'IV 89,028 89,028 11,639 Refuse and Rec)C ling 6,608 6,608 I $ 300 $ 1,220,860 $ 1,221,160 $ 1,030,826 Debt Service Debt Service $ 650,544 $ 650 ,544 $ 928,056 I Capital Projects Capital Equipnent I Replacanent $ 676,831 $ 905,944 $ 1,582,775 $ 1,031,249 Capital Projects 1,651,039 1,651,039 1,826,217 Bon:l FUnd Series 1989 7,330,374 7,330,374 I $ 8,007,205 $2,556,983 $10 ,564,188 $ 2,857,466 Enterprise Waten..urks - East $ 322,977 $ 322,977 $ 32,049 I W:tterw:>rks - \Est 499,899 499,899 327,019 Se~r~e 301,852 301,852 249,794 Camwter Parking lot 230,333 230,333 258,026 I $ 1,355,061 $ 1,355,061 $ 866,888 Internal Service I Mmicipal Equipnent Repair $ 107,791 $ 107,791 $ 125,831 Insurance 261,769 261,769 130,989 $ 369,560 $ 369,560 $ 256,820 I Trust and Agency Escrcw Dep:>sit $ 5,600,392 $ 5,600,392 $ 4,476,094- I Deposit 46,322 46,322 46,045 Police Pension 566,027 $ 353,625 $ 9,027,787 9,947,439 8,484,055 Firerren' s ~nsion 284,318 143,481 8,162,571 8,590,370 7,512,674 I 6,497,059 497,106 17,190,358 24,184,523 20,518,868 $2,495 $20,020,063 $3,454,089 $17,190,358 $40 ,667 ,005 $28,693,211 I VILLAGE OF GLENVIEW, ILLINOIS SCHEDULE OF INSURANCE IN FORCE DECEMBER 31, 1989 Description of Coverage Workrnen's Compensation Builder's Risk Glenview Public Library Fire Public Official Liability Umbrella Liability Excess Umbrella Liability Public Employees Blanket Bond Amount of Coverage Statutory Coverage $ 100,000 $3,050,000 $ 82,000 $1,000,000 $5,000,000 $1,000,000 $ 250,000 Insuring Company Optimum INA Continental National - Ben Franklin International Granite State Home Insurance Kemper 120 I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I 121 VILLAGE OF GLENVIEW, ILLINOIS LONG-TERM DEBT REQUIREMENTS MUNICIPAL BUILDING BOND SERIES OF 1979 DECEMBER 31, 1989 Date of Issue Date of Maturity Authorized Issue Actual Issue Denornination of Bonds Interest Rates April 1, 1979 January 1, 1991 $950,000 $950,000 1 - 190 - $5,000 Bonds 1 - 70 - 5.30% Bonds 71 - 160 - 5.40% Bonds 161 - 190 - 5.50% July 1 and January 1 January 1 Amalgamated Trust and Savings Bank Chicago, Illinois Interest Dates Principal Maturity Date Payable at CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS Tax Fiscal Levy Bond Tax Levy Interest Due on Year Year Nurnbers Principal Interest Totals July 1 Amount Jan. 1 Amount 1990 1989 161-190 $150,000 $8,250 $158,250 1990 $4 , 125 1991 $4,125 CURREN!' AND FUWRE PRINCIPAL AND IN'IEREST RF.QUIREHNfS TalC Fiscal levy lbod Tax Levy Interest Due on Year Year Nl.Il1bers Principal Interest Totals June 1 Aroount Dec. 1 Aroount - 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 66,550 199!l. 1993 401-455 275,000 107,662 382,662 199!l. 53,831 199!l. 53,831 1995 1994- 456-510 275,000 81,538 356,538 1995 40,769 1995 40,769 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 $2,200 ,000 $951,500 $3,151,500 $475,749 $475,751 llite of IsslE Date of M!1turity luthorized IsslE Denanination of lbrrls Interest Rates Interest llites Principal M!1turity Date Payable at 122 VILLAGE OF GI.ENVIEW, ILLINOIS UID-'IERM DEBT RE<PIREl-ENTS LIBRARY BOND SERIES OF 1984 DECEMBER 31, 1989 July 1, 1984 Decanber 1, 1997 $3,100,000 $ 5,000 1986-1988 - 9.90% 1993 - 9.25% 1989 - 8.50% 199!l. - 9.50% 1990 - 8.60% 1995 - 9.75% 1991 - 8.90% 1996 - 9.90 1992 - 9.10% 1997 - 10.00% Jme 1 and Decamer 1 Decanber 1 Citibank I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I' I I I I I 123 VILlAGE OF GLENVIEW, TILINOIS l.(N}-'!ERM DEBT ~ <:x>RPCEA'IE PURPOSE B(N) SERIES OF 1977 DECEMBER 31, 1989 rate of Issle Date of l1<iturity luthorized IsSle Actual IsSlE ~ncmination of lbnds Interest Rates July 1, 1977 Jamary 1, 1998 $4,525,000 $4,525,000 $ 5,000 lbnIs 1 to 235-6.0% lbnds 236 to 320-4.6% BonIs 321 to 365-4.7% lbnds 366 to 415-4.8% Borris 416 to 465-4.9% lbnds 466 to CXl5-5.0% January 1 and July 1 IiIErican National Bark & Trust Conpany of Olic~o January 1 Interes t rates Payab le at Principal Mlturity rate CURRENf AND FUIURE PRINCIPAL AND INIEREsr ~ Year Ended lbrri Requireuents Interest Due on Dec. 31 NUIbers principal Interest Totals July 1 Atoount Jan. 1 Annmt 19CXl 416-465 $ 250,000 $122,250 $ 372,250 19CXl $ 61,125 1991 $ 61,125 1991 466-520 275,000 110,000 385,000 1991 55,000 1992 55,000 1992 521-575 275,000 96,250 371,250 1992 48,125 1993 48, 125 1993 576-635 300,000 82,500 382,500 1993 41,250 1994- 41,250 1994- 636-695 300,000 67,500 367,500 1994- 33,750 1995 33,750 1995 696-760 325,000 52,500 377,500 1995 26,250 1996 26,250 1996 791-830 350,000 36,250 386,250 1996 18,125 1997 18,125 1997 831-CXl5 375,000 18,750 393,750 1997 9,375 1998 9,375 $2,450,000 $586,000 $3,036 ,000 $293,000 $293,000 tbte: The principal and interest will be paid by Witerw:nKs Fwd - vest. 126 VILlAGE OF GLENVIEW, IILINOIS llN.}-lERM IEBT ~ CORPORA'lE PURPOSE &lND SERIES OF 1989 DECEMBER 31, 1989 llite of IsSlE Date of Maturity hlthorized IsSlE Denanination of Borris Interest Rates July 1, 1989 ~canber 1, 2004 $8,000,000 $ 5,000 1989 - 1991 - 6.10% 1992 - 1993 - 6/2(1'1. 1994 - 1995 - 6.25% 1996 - 1997 - 6.30% 1998 - 1999 - 6.4(1'1. 2000 - 2001 - 6.50% 2002 - 2004 - 6.6(1'1. Interest llites Principal Maturity Date Payable at Jme 1 and Decarber 1 ~canber 1, 2004 AnErican Nat ional funk CURRENT AND FlTIURE PRINCIPAL AND INTEREST ~ TalC Fi&:al levy Bond Tax Levy Interest Due on Year Year NlIIIbers Principal Interest Totals JlU1e 1 Annmt Dec. 1 Am:>lU1t 1990 1989 1- 25 $ 125,000 $ 482,528 $ 607,528 1990 $ 241,264 1990 $ 241,264 1991 19<X> 26- 95 350,000 503,287 853,287 1991 251,643 1991 251,644 1992 1991 96- 180 425,000 481,937 906,937 1992 240,969 1992 240,968 1993 1992 181- 275 475,000 455,587 930,587 1993 227,793 1993 227,794 1994 1993 276- 375 500,000 426,138 926,138 1994 213,069 1994 213,069 1995 1994 376- 480 525,000 394 ,888 919,888 1995 197,444 1995 197,444 1996 1995 481- 595 575,000 362,076 937,076 1996 181,038 1996 181,038 1997 1996 596- 715 600,000 325,850 925,850 1997 162,925 1997 162,925 1998 1997 716- 845 650,000 288,050 938,050 1998 144,025 1998 144,025 1999 1998 846- 985 700,000 246,450 946,450 1999 123,225 1999 123,225 2000 1999 986-1135 750,000 201,650 951,650 2000 100,825 2000 100,825 2001 2000 1136-1245 550,000 152,900 702,~ 2001 76,450 2001 76,450 2002 2001 1246-1355 550,000 117,150 667,150 2002 58,575 2002 58,575 2003 2002 1356-1475 600,000 80,850 680,850 2003 40,425 2003 40,425 2004 2003 1476-1600 625,000 41,250 666,250 2004 20,625 2004 20,625 $8,000,000 $4,560,591 $12,560,591 $2,280,295 $2,280,296 I I I I 'I I I I I I I I I I. 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II-< 4-1 o ,-... - '-" 133 ~ 'g <lJ ..... o II-< o Q) ! ...... .,-l > 1J ol-J o ol-J ~ 15 U .... 'E. go Q) /lP ol-J c:: <lJ U ~ & ~ ol-J 00 ~ 00 t!!l ~ '@ ..... 'E. .,-l ..... ...... ~ "0 c:: ~ :>. ol-J J:l J3 "0 c:: t1l ~ ..... ...... t1l ~ ol-J ,D ~ 1l 'E .8 00 ~ ~ c.:> I 00 Q) "B ...... Jj I ,-... N '-" '"" ~ '-' VILLAGE OF GLENVIEW, ILLINOIS SCHEDULE OF LEGAL DEBT MARGIN DECEMBER 31, 1989 There is no legal debt lirnit for home rule municipalities in Illinois. Article VII, Section 6(k) of the 1970 Illinois Constitution governs computation of the Legal Debt Margin. "The General Assembly may lirnit by law the amount and require refer- endurn approval of debt to be incurred by home rule municipalities, payable from ad valorern property tax receipts, only l.n excess of the following percentages of the assessed value of its taxable property... (2) if its population l.S 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 1S thereafter approved by referendurn.. .shall not be included l.n the foregoing percentage amounts." To date the General Assernbly has set no limits for home rule rnunicipalities. 134 I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I 137 VILLAGE OF GLENVIEW, ILLINOIS DEMOGRAPHIC STATISTICS LAST TEN FISCAL YEARS DECEMBER 31, 1989 Education Leve 1 In Per Years of Schoo 1 Fiscal Capita Median Fo rma 1 Enroll- Unemploy- Year Population Incorne Age Schooling ment ment 1980 32,060 $13,704 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 33,996 15,856 33.8 15.6 2,751 6.0 1985 34,225 18,632 33.8 15.6 2,666 5.4 1986 34,500 18,741 33.6 15.7 2,701 5.3 1987 36,375 19,490 33.9 15.9 2,794 4.7 1988 37,400 21,429 34.5 16.4 2,963 4.3 1989 37,800 22,350 34.7 16.5 3,024 4.5 (1) (1) (1) (1) (2) (3) Data Sources (1) u.S. Department of Commerce, Bureau of the Census, 1980 date based on the actual count; other years estimated by the Glenview Planning Department. (2) Glenview School District #34 actual count, as of January 31, 1990. (3) Illinois Department of Labor, Research Division. Figures for 1980 to 1982 are actual; other years estirnated from statewide averages. 138 I 00 0 0 ...... N ~ 0 0 N ...... ~ -::t 0 ~ ...... M 0 0 ~ 0 00 ..... 00 0 0 -::t \0 0 0 ...... 00 ol-J ~ ~ ..!G .,-l M 0 N ..... ~ ~ ~ -::t ...... ~ c:: 00 ...... ...... M ~ ...... ~ \0 - M ...... I t1l 0 ~ ..;t;. ~ ...... ..... ...... ...... 0 ~ ...... J:Q p.. ~ al 0 ...... \0 0 ..... ..... ...... 00 -::t -::t Q 0 -::t ...... ~ ~ ~ \0 0 N M M M M M M M M -::t -::t -::t -u>- ~ I t1l ) al ~ N -::t N ~ M \0 M 00 ~ :> -::t 0 ...... M ~ M 00 ...... I .,-l ..... ...... ...... N N ..... ..... '"' Q "0 I al ::l ..... 00 t1l 00 U H ,,-l Cf.l '"' \0 -::t - \0 \0 0 ..... 0 ~ 00 E-o 00 ol-J \0 -::t -::t ~ ...... ~ M ~ M - I H ol-J U M M -::t -::t ...... ...... \0 ...... Cf.l .... al 0 13 ..... p., '"' ~ ~ al Q p., I ~ ..... p.. 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CIl.,-l ~ tll~ 00 00 t1l'Cil 00 ol-J Q)',-l c; ~ ~.E "8 2!' tll .,-l ~1 ol-J a3 Q) ol-J s... ~ t1l ol-J..c: 8~ u o ~ 2:: 00 . fi B cd 19 ol-J tll .... rii 0.. 00 c:: :E ',-l ~ ~ s... ~ .g 00 Q) Q) ..... .... c..? .13 o ui...... ~13 ~ol-J ..... t1l ~] !II<d ,j:l ol-J ol-J'8. 1~.....l s... ~ 0 ac::,B oSc5S \OUl.... M c: t1l tll U "8 ~.... t1l~'O 13~ .~.p ~ ol-J 6.... .!.~~ :B ~.~ ........51:5 ~ E CIl~3 Q) ~ 00 ]01 u.... ol-J c ~ s... H ~ :2 ~ 16 .... .... tll ~ ~ ~ ..... .,-l ~ c:: .,-l en s... ~ o '0. ffi ~ o 00 ~ tll U tll a ~ .-... ...... '-" .-... N '-" .-... C""l '-' en Q) ~ ~ VILLAGE OF GLENVIEW, ILLINOIS MISCELLANEOUS STATISTICS DECEMBER 31, 1989 Date of Incorporation June 20, 1899 Form of Government Counc i 1- Man age r Geographical Location 20 Miles North of Chicago Area 11 Square Mile s Population 1950 1960 1963 1970 1975 1980 1984 1985 1986 (1) 1987 (1) 1988 (1) 1989 (1) 6,142 18,132 22,364 24,880 30,552 32,060 33,996 34,225 34,500 36,375 37,400 37,800 Nurnber of Total Housing Units (1980 Census) Nurnber of Total Housing Units (1985 Planning Department Estimate) Median Value Owner occupied Noncondominium Housing Units 10,997 11,719 $111,900 Distribution of Owner - Occupied Noncondominium Housing Units by Value Unit Value by Range (2) Unit Distribution Number Percent Less than $ 10,000 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. 140 I I I I I I I I I J I I I I I I I I I I I I I I I I I I I I I I I I I I I I VILLAGE OF GLENVIEW, ILLINOIS MISCELLANEOUS STATISTICS (CONT.) DECEMBER 31, 1989 Fire Protection Number of Firemen Number of Stations Number of Hydrants 1. S, o. Rating Police Protection Nurnber of Policemen Number of School Crossing Guards Nurnber of Stations Library Services Number of Libraries Number of Books Number of Records Number of Audio Cassettes Nurnber of Slides Nurnber of Video Tapes Number of Compact Discs Number of Registered Borrowers 1988 Book Circulation Recreation Facilities Numbers of Parks and Playgrounds Park Area in Acres - Park District Owned Park Area in Acres - Park District Leased Municipal Parking Facilities Number of Parking Spaces Number of sewer customers served during fiscal year Total Number of metered water customers at December 31, 1989 Number of unmetered water customers at December 31, 1989 Gallons of water purchased during fiscal year Gallons of water billed during fiscal year Water Storage Capacity Ground Storage Elevated Storage Waterworks Fund - East $ 6,823 7,406 None 1,493,524,000 1,385,990,000 141 40 1 1,320 Class 3 59 19 1 1 182,277 6,556 4,596 6,311 2,525 1,159 29,507 540,945 24 340 125 666 Waterworks Fund - West $ 1,506 5,392 None 924,449,000 857,888,000 8,500,000 1,000,000 VILLAGE OF GLENVIEW, ILLINOIS MUNICIPAL SERVICES AND FACILITIES DECEMBER 31, 1989 142 -I I I 198 I 86 I - 7 I 5 82 12 I 106 I 89 I 17 106 I 2.2 I 22 I 85 I 74 66 I 1,484 I 57,128,466 I I I I Number of Full Time Employees (on December 31, 1989) Miles of Streets Maintained by Glenview Indentified by Functional Classification: Arterial Collector Presidential Cul-De-Sacs Total Miles of Streets Maintained by Glenview Indentified by Surface Type: Asphaul t Concrete Total Miles of Alleys Maintained by Glenview Miles of Streets within the Village of Glenview Maintained by Cook County or the State of Illinois Miles of Sanitary Sewers Miles of Storm Sewers Number of Village owned Street Lights Building Activity Number of Permi ts issued in 1989 Value of Construction Authorized l.n 1989 I 143 0 ~ol-J8 t1l ~ '" -::t OJ I =~~ 0 00 8 ...... 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I VILLAGE OF GLENVIEW, ILLINOIS SALARIES AND SURETY BONDS OF PRINCIPAL OFFICIALS DECEMBER 31, 1989 Village President Village Trustees Village Treasurer, Manager, and Clerk Finance Director Purchasing Agent Assistant Finance Director Assistant Village Manager Police Chief Deputy Police Chief Police Comrnander Fire Marshal Administrative Assistant to the Fire Marshal Fire District Chief Director of Developrnent Village Engineer Public Works Superintendent Director of Building and Zoning Water Distribution Superintendent Head Librarian Public Works Director Annual Salary $ 1,200 300 84,000 61,700 35,616 43,056 37,300 57,800 50,880 47,208 55,200 47,568 45,336 57,800 51,684 48,012 46,884 48,012 57,240 57,800 Amount of Surety Bond $250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 144 I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I 145 VILLAGE OF GLENVIEW, Iu..INOIS MAJOR CORPORATE FUND REVENUE SOURCES IDN - REAL ESTATE TAX DECEMBER 31, 1989 % of % of % of Sales Total Utility Total Incooe Total Year Tax Revenue Tax Revenue Tax Revenue 1980 $1,570,777 26.9% $1 ,302,489 22.~ $ 531,375 9.1% 1981 1,828,356 28.8 1,466,643 23.1 585,594 9.2 1982 1,908,785 28.7 1,659,139 24.9 614,382 9.2 1983 2,023,939 28.4 1,918,899 26.9 685,991 9.6 1984- 1,974,783 27.0 1,991,104 27.2 766,168 10.5 1985 2,462,183 30.2 1,999,838 24.5 723,008 8.8 1986 2,815,209 28.7 2,066,9% 21.1 804,896 8.2 1987 3,178,578 30.3 2,119,255 20.2 900,124 8.6 1988 3,132,518 38.3 2,202,445 26.9 952,708 11.7 1989 3,425,477 35.6 2,414,772 25.1 1,406,056 14.6 I I I I I I I I I I I I I I I I I I