HomeMy Public PortalAboutFY 2016 - Comprehensive Annual Financial ReportVillage of Plainfield
Comprehensive Annual Financial Report
For the Fiscal Year Ended April 30, 2016
24401 West Lockport Street | Plainfield, Illinois 60544
VILLAGE OF PLAINFIELD, ILLINOIS
COMPREHENSIVE ANNUAL
FINANCIAL REPORT
For the Year Ended
April 30, 2016
Prepared by the Management Services Department
Traci Pleckham, Director
Colleen Thornton, Accounting Services Supervisor
VILLAGE OF PLAINFIELD, ILLINOIS
TABLE OF CONTENTS
Page(s)
INTRODUCTORY SECTION
Principal Officials ............................................................................................................. i
Organization Chart ............................................................................................................ ii
Certificate of Achievement for Excellence in Financial Reporting .................................. iii
Letter of Transmittal ......................................................................................................... iv-vi
FINANCIAL SECTION
INDEPENDENT AUDITOR’S REPORT ....................................................................... 1-3
GENERAL PURPOSE EXTERNAL FINANCIAL STATEMENTS
Management’s Discussion and Analysis ..................................................................... MD&A 1-13
Basic Financial Statements
Government-Wide Financial Statements
Statement of Net Position ................................................................................... 4-5
Statement of Activities ....................................................................................... 6-7
Fund Financial Statements
Governmental Funds
Balance Sheet ................................................................................................ 8-9
Reconciliation of Fund Balances of Governmental Funds to
the Governmental Activities in the Statement of Net Position .................. 10
Statement of Revenues, Expenditures, and Changes in Fund Balances ...... 11
Reconciliation of the Governmental Funds Statement of Revenues,
Expenditures, and Changes in Fund Balances to the Governmental
Activities in the Statement of Activities ..................................................... 12
VILLAGE OF PLAINFIELD, ILLINOIS
TABLE OF CONTENTS (Continued)
Page(s)
FINANCIAL SECTION (Continued)
GENERAL PURPOSE EXTERNAL FINANCIAL STATEMENTS (Continued)
Basic Financial Statements (Continued)
Fund Financial Statements (Continued)
Proprietary Fund
Statement of Net Position .............................................................................. 13-14
Statement of Revenues, Expenses, and Changes in Fund Net Position ....... 15
Statement of Cash Flows ............................................................................... 16-17
Fiduciary Funds
Statement of Fiduciary Net Position ............................................................. 18
Statement of Changes in Fiduciary Net Position .......................................... 19
Notes to Financial Statements ............................................................................. 20-56
Required Supplementary Information
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual - General Fund .............................................. 57
Schedule of Funding Progress
Other Postemployment Benefit Plan .............................................................. 58
Schedule of Employer Contributions
Illinois Municipal Retirement Fund ................................................................... 59
Police Pension Fund ........................................................................................... 60
Other Postemployment Benefit Plan .............................................................. 61
Schedule of Changes in the Employer’s Net Pension Liability
and Related Ratios
Illinois Municipal Retirement Fund ................................................................... 62
Police Pension Fund ........................................................................................... 63
Schedule of Investment Returns
Police Pension Fund ........................................................................................... 64
Notes to Required Supplementary Information ................................................... 65
VILLAGE OF PLAINFIELD, ILLINOIS
TABLE OF CONTENTS (Continued)
Page(s)
FINANCIAL SECTION (Continued)
COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS
AND SCHEDULES
MAJOR GOVERNMENTAL FUNDS
Schedule of Revenues - Budget and Actual - General Fund .................................. 66-67
Schedule of Expenditures - Budget and Actual - General Fund ............................ 68-69
Schedule of Detailed Expenditures - Budget and Actual - General Fund .............. 70-79
Schedule of Revenues, Expenditures, and Changes
in Fund Balance - Budget and Actual
Capital Projects Fund ......................................................................................... 80
Debt Service Fund .......................................................................................... 81
NONMAJOR GOVERNMENTAL FUNDS
Combining Balance Sheet ................................................................................... 82-83
Combining Statement of Revenues, Expenditures, and
Changes in Fund Balances................................................................................. 84-85
Schedule of Revenues, Expenditures, and Changes
in Fund Balance - Budget and Actual
Liability Insurance Fund ..................................................................................... 86
Audit Fund .......................................................................................................... 87
Alcohol Enforcement Fund ................................................................................ 88
Motor Fuel Tax Fund ......................................................................................... 89
D.A.R.E. Fund .................................................................................................... 90
Tax Increment Financing Fund .......................................................................... 91
MAJOR ENTERPRISE FUND
Water and Sewer Department Accounts
Combining Schedule of Net Position ................................................................. 92-93
Combining Schedule of Revenues, Expenses, and
Changes in Net Position .................................................................................. 94
Combining Schedule of Cash Flows .................................................................. 95-96
Schedule of Operating Expenses - Budget and Actual ...................................... 97-99
FIDUCIARY FUNDS
Schedule of Changes in Fiduciary Net Position -
Budget and Actual - Police Pension Fund ............................................................ 100
VILLAGE OF PLAINFIELD, ILLINOIS
TABLE OF CONTENTS (Continued)
Page(s)
FINANCIAL SECTION (Continued)
COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS
AND SCHEDULES (Continued)
SUPPLEMENTAL SCHEDULES
Long-Term Debt Requirements
Corporate Purpose General Obligation Bond Series of 2005B ......................... 101
Corporate Purpose General Obligation Bond Series of 2007 ............................ 102
Water and Sewer Revenue Bond Series of 2008 ............................................... 103
Corporate Purpose General Obligation Refunding Bond Series of 2009 ......... 104
Corporate Purpose General Obligation Refunding Bond Series of 2010 ......... 105
Illinois Environmental Protection Agency Loan of 2010 .................................. 106
Corporate Purpose General Obligation Refunding Bond Series of 2012 ......... 107
Corporate Purpose General Obligation Refunding Bond Series of 2013 ......... 108
Corporate Purpose General Obligation Refunding Bond Series of 2014 ......... 109
Water and Sewer System Revenue Refunding Bond Series of 2015 ................ 110
INDEPENDENT ACCOUNTANT’S REPORT ON MANAGEMENT’S
ASSERTION OF COMPLIANCE ................................................................................. 111
STATISTICAL SECTION
Financial Trends
Net Position by Component ......................................................................................... 112-113
Change in Net Position ................................................................................................. 114-117
Fund Balances of Governmental Funds ....................................................................... 118-119
Changes in Fund Balances of Governmental Funds .................................................... 120-121
Revenue Capacity
Assessed Value and Actual Value of Taxable Property .............................................. 122
Property Tax Rates - Direct and Overlapping Governments ....................................... 123
Principal Property Taxpayers ....................................................................................... 124
Property Tax Levies and Collections ........................................................................... 125
Property Tax Assessed Valuations, Rates, and Tax Extensions.................................. 126-127
Sales Tax by Category .................................................................................................. 128
Direct and Overlapping Sales Tax Rates ..................................................................... 129
Debt Capacity
Ratios of Outstanding Debt by Type ............................................................................ 130
Ratios of General Bonded Debt Outstanding .............................................................. 131
Direct and Overlapping Governmental Activities Debt .............................................. 132
Pledged-Revenue Coverage ......................................................................................... 133
VILLAGE OF PLAINFIELD, ILLINOIS
TABLE OF CONTENTS (Continued)
Page(s)
STATISTICAL SECTION (Continued)
Demographic and Economic Information
Demographic and Economic Information .................................................................... 134
Principal Employers ..................................................................................................... 135
Operating Information
Full-Time Equivalent Employees ................................................................................ 136
Operating Indicators ..................................................................................................... 137-138
Capital Asset Statistics ................................................................................................. 139
INTRODUCTORY SECTION
- i -
VILLAGE OFFICIALS
PRESIDENT
Michael P. Collins
TRUSTEES
Margie Bonuchi
Bill Lamb
Edward O’Rourke
Garrett M. Peck
Jim Racich
Brian Wojowski
Brian P. Murphy
Village
Administrator
John
Konopek
Police Chief
Ken Goska
Building Official
John Proulx
Planning Director
Allen
Persons
Public Works Director
Traci Pleckham
Management
Services Director
Michelle Gibas
Village Clerk
Citizens of the
Village
Mayor and
Board of
Trustees
Village
Administrator
Management
Services
Department
Police
Department
Public Works
Department
Planning
Department
Building
Department
IT Community
Relations
Village Clerk
Village of Plainfield
Organizational Chart
- ii -
Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
Village of Plainfield
Illinois
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
April 30, 2015
Executive Director/CEO
- iii -
- v -
The Village operates under the Trustee/Administrator form of government by Village ordinance. Policymaking
and legislative authority are vested with the Village Board which consists of a Village President and six Trustees
elected at large on a nonpartisan basis. The Village President is elected to a four-year term. The Board
members are elected to four-year staggered terms, with three Board members elected every two years. The
Administrator is responsible for the daily affairs of the organization and for carrying out the policies and
ordinances of the Village Board.
The Village is served by approximately 136 FTE employees, providing public/municipal/ enterprise services,
including: police protection, community development, building and zoning services, public works operations,
road & bridge maintenance, potable water distribution services, sanitary sewer services, and storm water
services.
The Village residents are also provided a variety of services, at the local level, by three school districts, two
park districts, four townships, two fire protection districts, and two library districts.
The annual budget serves as the spending authority for the Village. Budgetary control is maintained at the fund
level for all budgeted funds. An annual budget is prepared for the General Fund, Water/Sewer & Expansion
Fund, Capital Fund, and other miscellaneous funds. The budget process begins in the fall with an update to the
Village’s long-term financial forecast and capital project demands. The annual budget must be adopted by the
Village Board before the start of the fiscal year which begins on May 1st.
Economic Condition and Outlook
Local Economy
The Village saw improvement in some of our economic indicators last year, especially in retail sales. Overall,
retail sales improved by 5% in comparison to the previous fiscal year. Housing development remained steady
in 2016. During the fiscal year, 151 single family building permits were issued for new construction within the
Village. During fiscal year 2015, 159 single family building permits were issued and 146 were issued in 2014.
Building permit revenues represented 4.1% of the General Fund revenue for fiscal year 2016 compared to 3.5%
in fiscal year 2015.
The Village’s Fund Balance Policy, which was revised in 2014, includes the ability to transfer unassigned
General Fund balance in excess of 40% of the total General Fund annual expenditures to the Village’s Capital
Fund. Fiscal year 2016 reflected a $2.4 million transfer from the Village’s General Fund to the Capital Fund,
resulting in an ending fund balance of just over $8.8 million. This key financial policy will continue to help the
Village position itself for future capital infrastructure needs.
Debt ratings indicate the confidence of the rating agency in the Village’s continued financial operations and
abilities to meet its ongoing obligations. Standard & Poor’s rating for the Village's debt is AA+. S&P notes
factors such as budgetary flexibility, management, and good financial policies as reasons for the strong rating.
- vi -
Moody’s also issued a strong bond rating for the Village’s debt at Aa1. Moody’s states that the bond rating
“reflects the Village’s healthy financial operations and ample reserves supported by strong management and
long-term fiscal planning.”
Strategic Plan
In the spring of 2016, over 70 residents joined Dr. Lew Bender and the Village Board to discuss our shared
vision for the community. Overwhelmingly, the community expressed interest across three key areas:
Transportation, Traffic, & Infrastructure; Economic Growth & Sustainability; and Community Life. Following the
community meeting, a five-year vision was created and specific one-year tasks were mapped out. The
Strategic Plan is utilized as a guide for the Village’s annual budget process and long-term financial planning.
Transportation Projects
As a key component of the 2021 Strategic Plan, the Village has a number of transportation projects underway.
The following projects are scheduled to be completed by the end of 2017: Route 30, 127th Street, 119th and
Route 30 Traffic Signal, and the Lockport Street refresh. Planning and design work will continue for the 143rd
Street Extension, I-55 Interchange Expansion, Lockport Street Bypass, Renwick Road, Plainfield-Naperville
Road/127th Street Intersection, and the Route 30/143rd Street Intersection.
Awards and Acknowledgements
The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of
Achievement for Excellence in Financial Reporting to the Village of Plainfield for its Comprehensive Annual
Financial Report (CAFR) for the fiscal year that ended April 30, 2015. This was the second year the Village
submitted and received this prestigious award. In order to be awarded a Certificate of Achievement, the
Village must publish an easily readable and efficiently organized CAFR. The report must also satisfy both
generally accepted accounting principles and applicable legal requirements.
A Certificate of Achievement is valid for a period of only one year. We believe that our current CAFR continues
to meet the Certificate of Achievement Program’s requirements and we are submitting it to the GFOA to
determine its eligibility for another certificate.
This report would not been possible without the dedicated support and involvement of the Village Department
Heads and Staff. The entire Management Services Staff is extended a special appreciation for all of their
assistance in the completion of the annual audit and preparation of this report. We would also like to thank
the Village President and Board of Trustees for their support in maintaining the highest standards of
professionalism in the management of the Village’s finances.
Respectfully submitted,
Brian Murphy Traci Pleckham
Village Administrator Management Services Director
FINANCIAL SECTION
- 1 -
INDEPENDENT AUDITOR’S REPORT
The Honorable President
Members of the Board of Trustees
Village of Plainfield, Illinois
Report on the Financial Statements
We have audited the accompanying financial statements of the governmental activities, the
business-type activities, each major fund, and the aggregate remaining fund information of the
Village of Plainfield, Illinois (the Village) as of and for the year ended April 30, 2016, and the
related notes to financial statements, which collectively comprise the Village’s basic financial
statements as listed in the table of contents.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements
in accordance with accounting principles generally accepted in the United States of America; this
includes the design, implementation, and maintenance of internal control relevant to the
preparation and fair presentation of the financial statements that are free from material
misstatement, whether due to fraud or error.
Auditor’s Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We
conducted our audit in accordance with auditing standards generally accepted in the United
States of America. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and
disclosures in the financial statements. The procedures selected depend on the auditor’s
judgment, including the assessment of the risks of material misstatement of the financial
statements, whether due to fraud or error. In making those risk assessments, the auditor considers
internal control relevant to the Village’s preparation and fair presentation of the financial
statements in order to design audit procedures that are appropriate in the circumstances, but not
for the purpose of expressing an opinion on the effectiveness of the Village’s internal control.
Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness
of accounting policies used and the reasonableness of significant accounting estimates made by
management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our audit opinions.
- 1 -
- 1 -
Opinions
In our opinion, the financial statements referred to above present fairly, in all material respects,
the respective financial position of the governmental activities, the business-type activities, each
major fund, and the aggregate remaining fund information of the Village of Plainfield, Illinois, as
of April 30, 2016, and the respective changes in financial position and, where applicable, cash
flows thereof for the year then ended in accordance with accounting principles generally
accepted in the United States of America.
Change in Accounting Principle
As described in Note 13, the Village adopted GASB Statement No. 68, Accounting and Financial
Reporting for Pensions - an amendment of GASB Statement No. 27, and GASB Statement No. 71,
Pension Transition for Contributions Made Subsequent to the Measurement Date, which established
standards for measuring and recognizing liabilities, deferred inflows and outflows of resources, and
expenses, modified certain disclosures in the notes to the financial statements, and the required
supplementary information. Our opinion is not modified with respect to this matter.
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the
management’s discussion and analysis and the required supplementary information listed in the
table of contents be presented to supplement the basic financial statements. Such information,
although not a part of the basic financial statements, is required by the Governmental Accounting
Standards Board, who considers it to be an essential part of financial reporting for placing the
basic financial statements in an appropriate operational, economic, or historical context. We have
applied certain limited procedures to the required supplementary information in accordance with
auditing standards generally accepted in the United States of America, which consisted of
inquiries of management about the methods of preparing the information and comparing the
information for consistency with management’s responses to our inquiries, the basic financial
statements, and other knowledge we obtained during our audit of the basic financial statements.
We do not express an opinion or provide any assurance on the information because the limited
procedures do not provide us with sufficient evidence to express an opinion or provide any
assurance.
Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that
collectively comprise the Village’s basic financial statements. The introductory section,
combining and individual fund financial statements and schedules, and statistical section are
presented for purposes of additional analysis and are not a required part of the basic financial
statements.
- 2 -
- 2 -
The combining and individual fund financial statements and schedules are the responsibility of
management and were derived from and relate directly to the underlying accounting and other
records used to prepare the basic financial statements. The information has been subjected to the
auditing procedures applied in the audit of the basic financial statements and certain additional
procedures, including comparing and reconciling such information directly to the underlying
accounting and other records used to prepare the basic financial statements or to the basic
financial statements themselves, and other additional procedures in accordance with auditing
standards generally accepted in the United States of America. In our opinion, the combining and
individual fund financial statements and schedules are fairly stated in all material respects in
relation to the basic financial statements as a whole.
The introductory and statistical sections have not been subjected to the auditing procedures
applied in the audit of the basic financial statements and, accordingly, we do not express an
opinion or provide any assurance on them.
Naperville, Illinois
September 14, 2016
- 3 -
GENERAL PURPOSE EXTERNAL
FINANCIAL STATEMENTS
(See independent auditor's report)
MD&A 1
VILLAGE OF PLAINFIELD, ILLINOIS
MANAGEMENT'S DISCUSSION AND ANALYSIS
APRIL 30, 2016
_____________________________________________________________________________________________
The Village of Plainfield’s (the "Village") Management Discussion and Analysis (MD&A) is designed to provide an
overview of the Village’s financial position and activity at and for the year ended April 30, 2016. Since the MD&A is
designed to focus on the Village’s current year activities, changes in the Village’s financial position, and to identify any
material deviations from approved budget and financial plans, the information contained within this MD&A should be
considered as a part of a greater whole. Readers of this report should read and evaluate all sections of this report, including
the Notes to the Financial Statements and the Statistical Section that is provided in addition to the MD&A, in order to form
an opinion on the financial position and activities of the Village.
Financial Highlights
The Village adopted GASB pronouncement 68, which established standards for measuring and recognizing
liabilities, deferred outflows and inflows of resources and expenses for defined-benefit pension plans. To record
the liabilities for the Village’s police and IMRF pensions required change in accounting principle adjustments.
Governmental activities recognized a decrease in beginning net position of $11,418,430. The Business-type
activities recognized a decrease of $335,235 in beginning net position. These changes are reported as a restatement
of the Village’s May 1, 2015 net position (pages 4-5).
The Village’s total net position as of April 30, 2016 equaled $333,715,997, a decrease of $8,643,724, or 2.5% over
the April 30, 2015 restated net position.
Total revenues of all governmental activities increased by $1,158,813, or 3.5%. Total expenses increased by
$2,265,677 or 5.6% as compared to fiscal year 2015.
Total revenues of all business-type activity programs increased by $1,113,403, or 7.3%, while the total expenses
increased by $462,448, or 3% as compared to fiscal year 2015.
Governmental Funds reported combined ending fund balances of $23,219,032, an increase of $3,700,032 over the
prior fiscal year.
o Total fund balance for the General Fund was $10,607,080, an increase of $320,833 over fiscal year 2015.
This represents 50% of General Fund expenditures. $8,485,950 of the General Fund balance is
considered unassigned. This unassigned fund balance represents 40% of General Fund expenditures..
o Total fund balance for the Capital Projects Fund was $8,837,434, an increase of $3,389,861 over fiscal
year 2015. In March of 2014, the Village Board revised its Financial Policies to include the ability to
transfer unassigned General Fund balance in excess of 40% to the Village’s Capital Fund. Consistent
with the Village’s Financial Policies, fiscal year 2016 reflected a $2,378,289 transfer from the Village’s
General Fund to the Capital Fund.
USING THE FINANCIAL SECTION OF THIS ANNUAL REPORT
The Financial Statements' focus is on both the Village as a whole (government-wide) and on the major individual funds.
Both perspectives (government-wide and major fund) allow the user to address relevant questions, broaden a basis for
comparison (year to year or government to government), and enhance the Village's accountability. The Village’s basic
financial statements are comprised of three components: 1) government-wide financial statements, 2) fund financial
statements, and 3) notes to the financial statements. This report contains other supplementary information in addition to the
basic financial statements.
Government-Wide Financial Statements
The Government-Wide Financial Statements are designed to emulate the corporate sector in that all governmental and
business-type activities are consolidated into columns that add to a total for the Primary Government.
The Statement of Net Position presents information on all of the Village’s assets, deferred outflows of resources, liabilities,
and deferred inflows of resources with the difference between total assets and deferred outflows of resources and total
liabilities and deferred inflows of resources reported as the net position. The "Unrestricted Net Position" is designed to be
similar to bottom line results for the Village’s governmental and business-type activities. This statement combines and
consolidates governmental funds' current financial resources (short-term spendable resources) with capital assets and long-
term obligations using the accrual basis of accounting and economic resources measurement focus. Over time, increases or
decreases in net position may serve as a useful indicator of whether or not the financial position of the Village is improving.
VILLAGE OF PLAINFIELD, ILLINOIS
MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued)
______________________________________________________________________________
(See independent auditor's report)
MD&A 2
The Statement of Activities presents information showing how the Village’s net position changed during the most recent
fiscal year. This is intended to summarize and simplify the user's analysis of the cost of various government services and/or
subsidy to various business-type activities.
The Governmental Activities reflect the Village's basic services, including police, highways and streets, planning, building,
and administration. Property taxes, sales taxes, local utility taxes, and shared State income taxes finance the majority of
these activities. The Business-Type Activities reflect private sector-type operations (Water and Sewer Fund), where the fee
for service typically covers all or most of the cost of operation, including depreciation.
Fund Financial Statements
A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for
specific activities or objectives. The Fund Financial Statements allow the demonstration of sources and uses of funds
and/or the related budgeting compliance. Traditional users of governmental financial statements will find the Fund
Financial Statements presentation more familiar. The focus is on major funds, rather than fund types. All of the funds of
the Village can be divided into three categories: governmental funds, proprietary funds, and fiduciary funds.
Governmental Funds
Governmental funds (see pages 4-12) are used to account for essentially the same functions reported as governmental
activities in the government-wide financial statements. However, governmental fund financial statements focus on near-
term inflows and outflows of resources available for spending, as well as on balances of resources available for spending at
the end of the fiscal year. Such information may be useful in evaluating the Village’s near-term financing requirements.
Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to
compare the information presented for governmental funds with similar information presented for governmental activities
in the government-wide financial statements. By doing so, readers may better understand the long-term impact of the
government’s near-term financing decisions. The governmental fund’s Balance Sheet and Statement of Revenues,
Expenditures, and Changes in Fund Balances provide a reconciliation to facilitate this comparison between governmental
funds and governmental activities.
The Village maintains 9 individual governmental funds. Information is presented separately in the Governmental Fund
Balance Sheet and in the Governmental Fund Statement of Revenues, Expenditures, and Changes in Fund Balances for the
General Fund, the Capital Projects Fund, and the Debt Service Fund which are considered to be major funds. Data from the
other governmental funds are combined into a single, aggregated presentation. Individual fund data for each of these non-
major governmental funds is provided in the form of combining statements elsewhere in this report.
Proprietary Funds
Proprietary fund financial statements (see pages 13-17) provide the same type of information as the government-wide
financial statements, only in more detail. Proprietary funds account for services that are generally fully supported by user
fees charged to customers. The Water and Sewer Fund is considered a major fund of the Village and is presented in a
separate column in the Fund Financial Statements. A more detailed analysis of Water and Sewer Fund activities can be
found on pages 91-98 of this report.
Fiduciary Funds
Fiduciary funds are used to account for resources held for the benefit of parties outside Village government (Police Pension
Fund, see pages 18-19). While these funds represent trust responsibilities of the government, these assets are restricted in
purpose and do not represent discretionary assets of the government. Therefore, these assets are not presented as part of the
Government-Wide Statements.
Notes to the Financial Statements
The notes provide additional information that is essential to obtaining a full understanding of the data provided in the
government-wide and fund financial statements. Notes to the Financial Statements can be found on pages 20-56 of this
report.
VILLAGE OF PLAINFIELD, ILLINOIS
MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued)
______________________________________________________________________________
(See independent auditor's report)
MD&A 3
Other Information
Required Supplementary Information
In addition to the basic financial statements and accompanying notes, this report also presents certain required
supplementary information including the general fund budgetary schedules and data concerning the Village’s progress in
funding its obligation to provide pension and other postemployment benefits to its employees. Required supplementary
information can be found on pages 57-65 of this report.
Other Supplementary Information
In addition to the basic financial statements and accompanying notes, this report also presents combining and individual
fund financial statements and schedules for each of the Village’s funds, as well as supplemental schedules and historical
statistical data, which are presented on pages 66-139 of this report.
GOVERNMENT-WIDE STATEMENT
Statement of Net Position
Net position may serve over time as a useful indicator of a government's financial position. For the Village of Plainfield,
assets exceeded liabilities by $333,715,997 as of April 30, 2016. With the implementation of GASB 68, the Village is
required to retroactively record the net pension liability at April 30, 2016. The change in accounting principle totals
($11,753,665). For more detailed information on the change, see the Statement of Net Position (page 4).
2016 2015 2016 2015 2016 2015
Assets
Current Assets 33,262,497$ 30,851,284$ 17,018,925$ 15,927,435$ 50,281,422$ 46,778,719$
Noncurrent Assets 248,395,743$ 262,323,900$ 106,709,398$ 109,377,296$ 355,105,141$ 371,701,196$
Total Assets 281,658,240$ 293,175,184$ 123,728,323$ 125,304,731$ 405,386,563$ 418,479,915$
Deferred Outflows of Resources
Deferred Outflows of Resources-
IMRF 991,599$ -$ 203,098$ -$ 1,194,697$ -$
Deferred Outflows of Resources-
Police Pension 3,570,617$ -$ -$ -$ 3,570,617$ -$
Unamortized loss on refundings 1,936,717$ 2,000,102$ 2,546,454$ 2,683,624$ 4,483,171$ 4,683,726$
Total Assets and Deferred
Outflows of Resources 288,157,173$ 295,175,286$ 126,477,875$ 127,988,355$ 414,635,048$ 423,163,641$
Liabilities
Current Liabilities 3,709,576$ 3,444,555$ 1,764,422$ 1,697,442$ 5,473,998$ 5,141,997$
Long-Term Liabilities 41,876,308$ 29,253,386$ 26,553,536$ 28,158,310$ 68,429,844$ 57,411,696$
Total Liabilities 45,585,884$ 32,697,941$ 28,317,958$ 29,855,752$ 73,903,842$ 62,553,693$
Deferred Inflows of Resources
Deferred Inflows of Resources-
IMRF 131,271$ -$ 26,887$ -$ 158,158$ -$
Deferred Inflows of Resources-
Police Pension 220,856$ -$ -$ -$ 220,856$ -$
Deferred property tax 6,636,195$ 6,496,562$ -$ -$ 6,636,195$ 6,496,562$
Total Liabilities and Deferred
Inflows of Resources 52,574,206$ 39,194,503$ 28,344,845$ 29,855,752$ 80,919,051$ 69,050,255$
Net Position:
Net Investmant in Capital Assets 224,437,029$ 236,161,456$ 83,393,179$ 83,998,867$ 307,830,208$ 320,160,323$
Restricted 4,260,303$ 3,783,480$ 2,247,562$ 2,106,291$ 6,507,865$ 5,889,771$
Unrestricted 6,885,635$ 16,035,847$ 12,492,289$ 12,027,445$ 19,377,924$ 28,063,292$
Total Net Position*235,582,967$ 255,980,783$ 98,133,030$ 98,132,603$ 333,715,997$ 354,113,386$
Table 1: Statement of Net Position as of April 30, 2016 and April 30, 2015
Governmental Activities Business-Type Activities Total Primary Government
VILLAGE OF PLAINFIELD, ILLINOIS
MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued)
______________________________________________________________________________
(See independent auditor's report)
MD&A 4
The largest portion of the Village’s total net position (92%) reflects its investment in capital assets (land and improvements,
building, machinery, vehicles, equipment and infrastructure), less any related debt still outstanding. Although the Village’s
investment in its capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt
must be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities.
A small portion of the Village’s total net position (2%) represents resources that are subject to restrictions on how they may
be used. The remaining balance of unrestricted net position of $19,377,924 may be used to meet the Village’s ongoing
obligations. Of this amount, $6,885,635 represents the governmental activities portion and $12,492,289 is available for the
Village’s business-type activities (water and sewer operations).
Current Year Impacts
The Village of Plainfield’s April 30, 2016 General Fund reflects a positive fund balance of $10,607,080, reflecting an
increase of fund balance of $320,833 from the 2015 fiscal year. The 2016 total combined General Fund balance represents
50% of General Fund expenditures. Total General Fund unassigned fund balance represents 40% of General Fund
expenditures or $8,485,950. The Village’s Capital Projects fund balance improved its fund balance by $3,389,861 resulting
in a fund balance of $8,837,434 as of April 30, 2016. The Village’s overall combined fund balance is $23,219,032, an
increase of $3,700,032 from fiscal year 2015.
Changes in Net Position
The following table provides detail of the change in the Village’s net position during the year ended April 30, 2016
compared to the year ended April 30, 2015. 2016 Governmental activities decreased the Village’s net position by
$8,979,386 and business-type activities increased the Village’s net position by $335,662.
2016 2015 2016 2015 2016 2015
Revenues
Program Revenues
Charges for Services 7,271,241$ 7,092,515$ 14,224,684$ 13,407,793$ 21,495,925$ 20,500,308$
Operating Grants & Contributions 1,203,530$ 1,492,593$ -$ -$ 1,203,530$ 1,492,593$
Capital Grants & Contributions 360,507$ 44,267$ -$ -$ 360,507$ 44,267$
General Revenues
Property Taxes 6,633,529$ 6,538,805$ -$ -$ 6,633,529$ 6,538,805$
Other Taxes 17,534,801$ 16,927,385$ 1,701,328$ 1,643,244$ 19,236,129$ 18,570,629$
Other 327,817$ 85,295$ 883,948$ 637,272$ 1,211,765$ 722,567$
Total Revenues 33,331,425$ 32,180,860$ 16,809,960$ 15,688,309$ 50,141,385$ 47,869,169$
Expenses
General Government 4,461,409$ 3,974,582$ -$ -$ 4,461,409$ 3,974,582$
Public Safety 12,608,966$ 11,778,078$ -$ -$ 12,608,966$ 11,778,078$
Highways and Streets 24,868,163$ 23,731,474$ -$ -$ 24,868,163$ 23,731,474$
Interest 870,373$ 1,059,100$ -$ -$ 870,373$ 1,059,100$
Water and Sewer -$ -$ 15,976,198$ 15,513,750$ 15,976,198$ 15,513,750$
Total Expenses 42,808,911$ 40,543,234$ 15,976,198$ 15,513,750$ 58,785,109$ 56,056,984$
(9,477,486)$ (8,362,374)$ 833,762$ 174,559$ (8,643,724)$ (8,187,815)$
Transfers 498,100$ 489,852$ (498,100)$ (489,852)$ -$ -$
Change in Net Position (8,979,386)$ (7,872,522)$ 335,662$ (315,293)$ (8,643,724)$ (8,187,815)$
Net Position May 1 255,980,783$ 98,132,603$ 354,113,386$
Change in accounting principle (11,418,430)$ (335,235)$ (11,753,665)$
Net Position May 1, RESTATED 244,562,353$ 97,797,368$ 342,359,721$
Ending Net Position 235,582,967$ 255,980,783$ 98,133,030$ 98,132,603$ 333,715,997$ 354,113,386$
Table 2: Changes in Net Position for the Fiscal Years Ended April 30, 2016 and April 30, 2015
Governmental Activities Business-Type Activities Total Primary Government
Change in Net Position before
Transfers
VILLAGE OF PLAINFIELD, ILLINOIS
MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued)
______________________________________________________________________________
(See independent auditor's report)
MD&A 5
Depreciation was a primary factor of the decrease in net position for the governmental activities. Highway and Streets
expenses of $24,868,163 include depreciation expenses of $14,438,894.
Normal Impacts – There are eight basic impacts on revenues and expenses as reflected below:
Revenues:
Economic Condition - can reflect a declining, stable, or growing economic environment and can have an impact on
state income, sales, and utility tax revenue as well as public spending habits for consumers and builders/developers.
Increase/Decrease in Village-Approved Rates - while certain tax rates are set by statute, the Village Board has
authority to impose and increase/decrease rates (water, sewer, impact fees, connection fees, building permit fees,
home rule sales tax, utility tax etc.)
Changing Patterns in Intergovernmental and Grant Revenue (both recurring and nonrecurring) – certain
recurring revenues (State-shared revenues: sales, income, use etc.) may experience changes periodically, while
nonrecurring (or one-time) grants are less predictable and often distort their impact on year-to-year comparisons.
Market Impacts on Investment Income - the Village's investment portfolio is managed using a similar average
maturity to most governments. Market conditions may cause investment income to fluctuate.
Expenses:
Introduction/Modifications of New/Existing Programs - within the functional expense categories (General
Government, Public Safety, and Highways and Streets, etc.), individual programs may be added, modified or deleted
to meet changing community needs.
Changes in Authorized Personnel - changes in service demands may cause the Village Board to increase/decrease
authorized staffing. Staffing costs (salary and related benefits) represent 67% of the Village's General Fund and
15.2% of the Water and Sewer Fund operating costs.
Changes in Salary and/or benefits (annual adjustments and merit) - the ability to attract and retain human and
intellectual resources requires the Village to strive to position themselves with competitive salary and benefits in the
marketplace. In addition, reductions or freezes in salary and changes to benefits can also impact overall expenses.
Inflation - while overall inflation appears to be reasonably modest, the Village is a major consumer of certain
commodities such as supplies, fuels, and parts, particularly in years of significant construction activity. Some
functions may experience unusual commodity-specific increases.
VILLAGE OF PLAINFIELD, ILLINOIS
MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued)
______________________________________________________________________________
(See independent auditor's report)
MD&A 6
Current Year Impacts – Governmental Activities Revenues
For the fiscal year ended April 30, 2016, revenues (including transfers) from Governmental Activities totaled $33,829,525,
an increase of $1,158,813, or 3.5% from fiscal year 2015. Sales and Use Tax were the Village's largest revenue source at
$9,602,245, representing 28.38% of the total Governmental Activity revenue. Charges for Services were the Village's
second largest revenue source at $7,271,241, representing 21.49%. The primary Charges for Services revenues include
refuse fees ($3,672,262), licenses and permit revenues ($983,448), and franchise fees ($751,352). Property and
Replacement Taxes represent $6,633,529 or 19.61% of the total Governmental Activity revenue. Development activity
has remained steady in 2016. During the fiscal year, 151 single family building permits were issued for new construction
within the Village. During fiscal year 2015, 159 single family building permits were issued and 146 in 2014. Compared to
fiscal years 2008 and 2007, 298 and 797 single family building permits were issued respectively.
The Village’s property tax revenues increased from $6,538,805 in fiscal year 2015 to $6,633,529 in fiscal year 2016. The
Equalized Assessed Valuation (EAV) of the Village increased from $1,149,746,660 in calendar year 2013 to
$1,173,327,609 in calendar year 2014, representing $23,580,949 or 2.1%.
VILLAGE OF PLAINFIELD, ILLINOIS
MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued)
______________________________________________________________________________
(See independent auditor's report)
MD&A 7
The Village’s state-shared revenues of sales, income, and use tax increased this fiscal year by $698,629. Details of the
Village’s portion of State-Shared Taxes are as follows:
Current Year Impacts – Governmental Activities Expenses
For the fiscal year ended April 30, 2016, expenses from Governmental Activities totaled $42,808,911, an increase of
$2,265,677 over fiscal year 2015. In comparison, expenses from Governmental Activities in fiscal year 2015 decreased by
$347,201. In fiscal year 2014, expenses increased by $2,965,877.
State-Shared Tax
Fiscal Year
2015
Fiscal Year
2016
Increase /
(Decrease)
Sales Tax 5,025,975 5,280,661 254,686
State Income Tax 3,876,349 4,218,244 341,895
Use Tax 816,368 918,416 102,048
Total 9,718,692 10,417,321 698,629
VILLAGE OF PLAINFIELD, ILLINOIS
MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued)
______________________________________________________________________________
(See independent auditor's report)
MD&A 8
For the fiscal year ended April 30, 2016, Highways and Streets represented 58.1% of expenditures or $24,868,163.
Included in this figure is depreciation expense of $14,438,894. Some of the Village’s capital expenditures include
$2,020,635 for roadway improvements, $328,634 for sidewalk, curb replacement and pedestrian crossings, $615,880 for
machinery and equipment for the Police and Public Works Departments, and $396,796 for tree removal due to the emerald
ash borer.
Current Year Impacts – Business Type Activities Revenues
The Village’s business-type activities are those that the Village charges a fee to customers to help cover all or most of the
cost of the services it provides. The Village’s net position for its business-type activities increased in the amount of
$335,662 to $98,133,030 (see Table 2 – MD&A page 4).
Total revenue for the Village’s business-type activities increased by $1,121,651; from $15,688,309 in fiscal year 2015 to
$16,809,960 in fiscal year 2016. Charges for Services revenues for fiscal year end 2016 totaled $14,224,684, an increase of
$816,891. The Village has contracted with Illinois American Water to supply drinking water from the City of Chicago to
the Village via Illinois American’s pipeline. In February of 2015, the Village implemented the first of a three-year utility
rate increase schedule, due to a 25% rate increase from the City of Chicago passed along to the Village in 2012.
VILLAGE OF PLAINFIELD, ILLINOIS
MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued)
______________________________________________________________________________
(See independent auditor's report)
MD&A 9
Current Year Impacts – Business Type Activities Expenses
Operating expenses from all Business-Type Activities increased by $462,448 or 3%. Lake Michigan water purchase
accounted for $474,515 in additional expenses. Depreciation expenses for the water and sewer system remained relatively
flat, increasing by $16,390 to $3,051,103 for fiscal year 2016.
FINANCIAL ANALYSIS OF THE VILLAGE’S FUNDS
Governmental Funds
The focus of the Village’s governmental funds is to provide information on near-term inflows, outflows and balances of
spendable resources. Such information is useful in assessing the Village’s financing requirements. In particular,
unassigned fund balance may serve as the useful measure of a government’s net resources available for spending at the end
of the fiscal year. At April 30, 2016 the Governmental Funds (as presented on page 11) reported a combined fund balance
of $23,219,032 which is an increase from the beginning of the year balance of $19,519,000. Of the total fund balance,
$8,485,950 is unassigned within the Village’s General Fund, indicating availability of use for continuing Village services.
Non-spendable, restricted or assigned fund balance of $14,733,082 includes $2,819,181 for street maintenance, $1,127,527
for healthcare, $363,498 for long-term receivables as required by generally accepted accounting principles, $885,266 for
economic development, $8,837,434 for capital projects, $511,860 for public safety, and smaller statutory restrictions for
prepaid items, audit, liability insurance, retirement obligations, and debt service.
The General Fund is the Village’s primary operating fund and the largest source of day-to-day service delivery. Total
General Fund balance increased by $320,833 from fiscal year 2015. Total General Fund revenues increased $1,286,072 in
fiscal year 2016. General Fund expenditures increased by $442,233 from the prior year, or 2%.
The Capital Projects Fund is used to account for the acquisition or construction of major capital assets (other than those
financed by proprietary funds). The Capital Projects Fund expended approximately $3.9 million in capital projects in fiscal
year 2016, and increased its fund balance by $3,389,861 resulting in an ending fund balance of $8,837,434. This fund
balance will be utilized for future capital projects.
GENERAL FUND BUDGETARY HIGHLIGHTS
General Fund actual revenues were $1,825,830 more than the budgeted amount. This amount is primarily related to higher
state income tax revenues of $1,045,744 then what was conservatively budgeted. In addition, actual license and permit
revenues were $320,664 higher than anticipated. Other financing sources listed in the above table include a transfer out to
the Village’s Capital Fund of $2,378,289 per the Village’s Financial Policies. In March of 2014, the Village Board revised
its Financial Policies to include the ability to transfer unassigned General Fund balance in excess of 40% to the Village’s
Capital Fund.
Original
Budget Final Budget Actual
Revenues 22,026,166$ 22,026,166$ 23,851,996$
Expenditures 22,288,166$ 22,288,166$ 21,214,874$
Excess of Revenues over
Expenditures (262,000)$ (262,000)$ 2,637,122$
Other Financing Sources
(Uses)262,000$ 262,000$ (2,316,289)$
Net Changes in Fund Balance -$ -$ 320,833$
Table 3: General Fund Budgetary Highlights
VILLAGE OF PLAINFIELD, ILLINOIS
MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued)
______________________________________________________________________________
(See independent auditor's report)
MD&A 10
Proprietary Funds
At April 30, 2016 the Proprietary Funds total net position decreased by $335,662. There were no contributions of
infrastructure in fiscal years 2016, 2015 or 2014. Contributions of infrastructure totaled $2,145,000 in fiscal year 2013,
compared to $90,791 in fiscal year 2012, and $372,147 in fiscal year 2011.
The Village’s Water and Sewer Accounts recorded an operating loss of $818,030 in fiscal year 2016 (page 94). Fiscal year
2015 reported an operating loss of $1,001,463. The 2016 loss was directly attributable to water and sewer infrastructure
depreciation expenses of $3,051,103.
CAPITAL ASSETS
The Village’s investment in capital assets for its Governmental and Business-Type Activities as of April 30, 2016, amounts
to $355,105,141. The investment in capital assets includes land, buildings, equipment, improvements other than buildings,
underground sewer and water systems, infrastructure, and construction in progress. This amount represents a net decrease
(including additions and deductions) of $16,596,055. The Governmental Activities net capital assets decreased by
$13,928,157. The Business-Type Activities net capital assets decreased by $2,667,898. Detailed information regarding the
change in capital assets for Governmental and Business-Type Activities is included in the Notes to the Financial Statements
on pages 29-31.
DEBT OUTSTANDING
As of April 30, 2016, the Village has seven general obligation bond series, one Illinois EPA low interest loan, and two
revenue bond series outstanding. At April 30, 2016, $31.4 million in general obligation bonds, $2.5 million in Illinois EPA
loans, and $15.2 million in revenue bonds are outstanding. In addition, by continuing to monitor bond market conditions,
the Village has been able to achieve cost savings in excess of $3.6 million the past 10 years through refunding/refinancing
existing debt. Maturity dates and par amounts continue to remain the same on these refunding issues.
State statutes that limit the amount of general obligation debt a government entity has outstanding does not apply to home
rule municipalities. The Village of Plainfield was certified a home rule unit in fiscal year 2006.
Debt ratings indicate the confidence of the rating agency in the Village’s continued financial operations and abilities to
meet its ongoing obligations. In December of 2013, the Village refunded the Series 2004 bonds for net present value cash
flow savings of approximately $754,000. Upon their review of the refunding, S&P upgraded the Village's AA debt rating to
AA+. S&P noted very strong budgetary flexibility and performance, strong management with good financial policies and
practices as key factors of the upgrade. S & P also noted, "The stable outlook reflects our view of the Village's strong
economy and our anticipation that the Village will maintain very strong budgetary flexibility and liquidity."
In July of 2015, Moody’s, as part of their annual review process, noticed positive trends in the Village’s finances. Upon
completion of their analysis, Moody’s upgraded the Village’s rating from Aa2 to Aa1. In summary, Moody states that the
rating, “reflects the Village’s healthy financial operations and ample reserves supported by strong management and long
term fiscal planning”.
2016 2015 2016 2015 2016 2015
Land and Right of Way 99,620,465$ 99,620,465$ 3,043,544$ 3,043,544$ 102,664,009$ 102,664,009$
Buildings 22,054,513$ 22,714,547$ 12,393,882$ 12,742,844$ 34,448,395$ 35,457,391$
Machinery and Equipment 1,237,779$ 980,703$ 142,924$ 118,966$ 1,380,703$ 1,099,669$
Water & Sewer System -$ -$ 90,630,375$ 93,286,994$ 90,630,375$ 93,286,994$
Infrastructure 120,803,518$ 134,917,352$ -$ -$ 120,803,518$ 134,917,352$
Construction in progress 4,679,468$ 4,090,833$ 498,673$ 184,948$ 5,178,141$ 4,275,781$
Total Capital Assets 248,395,743$ 262,323,900$ 106,709,398$ 109,377,296$ 355,105,141$ 371,701,196$
Governmental Activities Business-Type Activities Total Primary Government
Table 4: Total Capital Assets (Net of Depreciation)
VILLAGE OF PLAINFIELD, ILLINOIS
MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued)
______________________________________________________________________________
(See independent auditor's report)
MD&A 11
The following charts depict a comparison of the debt ratings used and issued by Moody’s and Standard and Poor’s (S&P)
for both the Village’s General Obligation and Water and Sewer Revenue Bonds:
Additional information of the Village’s long-term debt can be found in the Notes to the Financial Statements (pages 32-36).
ECONOMIC FACTORS
According to the Metropolitan Mayors Caucus, “Plainfield is an upscale southwest suburban community that has reached a
key transition point in its history. Formerly a small farming community as late as 1990, it has seen its population skyrocket
from about 4,500 in 1990 to 39,581 in 2010 as numerous family farms were converted into large housing subdivisions.
Thanks to careful planning, the Village’s infrastructure has, to a large degree, been able to keep up with the growth.”
Although currently growing at a slower pace, the population of the Village of Plainfield has increased rapidly over the past
20 years bringing an influx of new residents and consumers to the Village.
Data Sources:
Moody's S&P
Aaa AAA
Aa1 AA+***
Aa2 *AA
Aa3 **AA-
A1 A+
A2 A
A3 A-
Baa1 BBB+
Baa2 BBB
Baa3 BBB-
*Water & Sewer 1st lien revenue bond
**Water & Sewer 2nd lien revenue bond
*** S&P rated all of the Village's debt the same
Comparison of Ratings Used by Moody's
and Standard and Poor's (S&P)
Village of Plainfield's Debt Rating is Highlighted.
The Village holds both General Obligation Bonds and Water &
Sewer System Revenue Bonds
1990 - U.S. Census
2000 - U.S. Census
2003 - Village of Plainfield Special Census
2005 - Village of Plainfield Special Census
2007 - Village of Plainfield Special Census
2010 - U.S. Census
2015 – ESTIMATE - U.S. Census
VILLAGE OF PLAINFIELD, ILLINOIS
MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued)
______________________________________________________________________________
(See independent auditor's report)
MD&A 12
The challenge now before the Village, given the current economic situation, is to be able to position itself to provide a
sustainable community that promotes a quality of life that attracts residents, commercial developments and visitors alike.
Based on information from the Illinois Department of Employment Security, the 2015 average unemployment for the
Village of Plainfield was 5.3%, which favorably compares to Will County’s rate of 6.0% and the State of Illinois rate of
5.9%. As of July 2016, the average unemployment for the Village was 4.9%, which still favorably compares to Will
County’s rate of 5.7% and the State of Illinois rate of 5.6%. The national average unemployment rate for July 2016 was
5.1%.
Information from the US Census Bureau via the 2000 Census and the 2010-2014 American Community Survey lists the
following comparable data for the Village of Plainfield, Will County, Illinois and the United States:
Plainfield Will County Illinois USA
2000 2010-2014 2000 2010-2014 2000 2010-2014 2000 2010-2014
Median value
of owner-
occupied
housing units
$198,300 $289,300 $154,300 $212,700 $130,800 $175,700 $119,600 $175,700
Plainfield Will County Illinois USA
2000 2010-2014 2000 2010-2014 2000 2010-2014 2000 2010-2014
Median
household
income
$80,799 $111,536 $62,238 $87,503 $46,590 $57,166 $41,994 $53,482
Per the data above, the median value of owner-occupied housing units increased an estimated 46% for the Village within
approximately the past 14 years. In addition, the median household income increased by 38% during the same timeframe.
The Village has experienced stability in its revenues in the past fiscal year. However, given the continued uncertainties of
the State of Illinois, the Village continues to remain cautious in budgeting for state shared revenue sources such as income
and use tax. The 2017 budget was developed in a prudent and conservative manner. Continued cost containments across all
departments enabled the Village to approve a balanced 2017 budget, with the main principle of providing quality services in
an efficient and cost-effective manner, while keeping the Village’s property tax rate stable. The 2017 budget anticipates a
slightly increased housing market, but continues to be conservative in regards to revenue projections, reflecting a decline in
state shared revenues and level property taxes. The budget also includes funding for three new positions, two Police
Officers and an Economic Development Specialist. The Capital Fund includes a slightly improved capital improvement
program in fiscal year 2017, specifically due to anticipated grant revenue of $3.5 million. Projects include $4.5 million for
the Village’s roadway improvement and maintenance programs, engineering design work, improving pedestrian access
through bike paths and sidewalks, and continued funding for the Village-wide emerald ash borer issue. The Village’s
Motor Fuel Tax Fund includes an additional $1 million for the Village’s roadway maintenance program. The 2011-2014
fiscal year budgets included funding for the Village’s deficit elimination plan. Through this plan, the Village has eliminated
over $10,943,005 in deficit position. As the 2014 fiscal year provided the elimination of the Capital Fund deficit balance
and an ending fund balance of $405,138, the 2016 fiscal year concluded with an ending Capital Fund balance of
$8,837,434. Fiscal year 2017 includes a fund balance replacement plan of $410,850, which will continue to help the
Village position for future capital infrastructure needs.
State revenues combined (sales, income and use tax) continue to represent the largest portion of the General Fund revenues
at 42%. Fiscal year 2016 reflected an increase in sales tax revenue of 5%, while fiscal year 2015 increased by 3%. The
Village continues to remain uncertain regarding the State’s proposal to reduce the local government’s share of income tax
revenues. State revenues will continue to be monitored closely in the 2017 fiscal year and forward.
VILLAGE OF PLAINFIELD, ILLINOIS
MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued)
______________________________________________________________________________
(See independent auditor's report)
MD&A 13
Property tax revenues represent approximately 22% of the overall General Fund revenues. The Village's composition is
primarily residential with smaller commercial and industrial components. Although home values seem to have stabilized,
the Village will continue closely monitor the housing market for the current year budget and future fiscal year budget
projections.
CONTACTING THE VILLAGE'S FINANCIAL MANAGEMENT
This financial report is designed to provide our citizens, customers, investors, and creditors with a general overview of the
Village's finances and to demonstrate the Village's accountability for the money it receives. Questions concerning this
report or requests for additional financial information should be directed to Traci Pleckham, Director of Management
Services, Village of Plainfield, 24401 West Lockport Street, Plainfield, Illinois 60544.
Governmental Business-Type
Activities Activities Total
ASSETS
Cash and investments 20,879,835$ 14,466,033$ 35,345,868$
Receivables (net, where applicable, of
allowances for uncollectibles)
Property taxes 6,636,195 - 6,636,195
Sales tax 2,241,305 391,476 2,632,781
Income tax 630,583 - 630,583
Utility/telecommunications taxes 362,616 - 362,616
Allotments 90,079 - 90,079
Grants 116,637 - 116,637
Interest 12,165 21,781 33,946
Other 1,025,125 1,922,604 2,947,729
Prepaid expenses 142,187 15,225 157,412
Deposits 1,125,770 201,555 1,327,325
Other 251 251
Capital assets
Nondepreciable 104,299,933 3,542,217 107,842,150
Depreciable, net of accumulated depreciation 144,095,810 103,167,181 247,262,991
Total assets 281,658,240 123,728,323 405,386,563
DEFERRED OUTFLOWS OF RESOURCES
Deferred outflows of resources - IMRF 991,599 203,098 1,194,697
Deferred outflows of resources - Police Pension Plan 3,570,617 - 3,570,617
Unamortized loss on refundings 1,936,717 2,546,454 4,483,171
Total deferred outflows of resources 6,498,933 2,749,552 9,248,485
Total assets and deferred outflows of resources 288,157,173 126,477,875 414,635,048
Primary Government
VILLAGE OF PLAINFIELD, ILLINOIS
STATEMENT OF NET POSITION
April 30, 2016
(This statement is continued on the following page.)
- 4 -
Governmental Business-Type
Activities Activities Total
LIABILITIES
Accounts payable 2,426,839$ 1,297,868$ 3,724,707$
Accrued payroll 362,565 48,915 411,480
Deposits payable 15,871 27,247 43,118
Accrued interest payable 302,306 390,392 692,698
Other accrued liabilities 99,672 - 99,672
Unearned revenue 502,323 - 502,323
Noncurrent liabilities
Due within one year 3,058,809 2,363,120 5,421,929
Due in more than one year 38,817,499 24,190,416 63,007,915
Total liabilities 45,585,884 28,317,958 73,903,842
DEFERRED INFLOWS OF RESOURCES
Deferred inflows of resources - IMRF 131,271 26,887 158,158
Deferred inflows of resources - Police Pension 220,856 - 220,856
Deferred property tax 6,636,195 - 6,636,195
Total deferred inflows of resources 6,988,322 26,887 7,015,209
Total liabilities and deferred inflows
of resources 52,574,206 28,344,845 80,919,051
NET POSITION
Net investment in capital assets 224,437,029 83,393,179 307,830,208
Restricted for
Street maintenance 2,819,181 - 2,819,181
Public safety 511,860 - 511,860
Debt service - 2,247,562 2,247,562
Audit 6,161 - 6,161
Liability insurance 21,126 - 21,126
Retirement obligations 16,709 - 16,709
Economic development 885,266 - 885,266
Unrestricted 6,885,635 12,492,289 19,377,924
TOTAL NET POSITION 235,582,967$ 98,133,030$ 333,715,997$
April 30, 2016
Primary Government
VILLAGE OF PLAINFIELD, ILLINOIS
STATEMENT OF NET POSITION (Continued)
See accompanying notes to financial statements.
- 5 -
Operating Capital
Charges Grants and Grants and
FUNCTIONS/PROGRAMS Expenses for Services Contributions Contributions
PRIMARY GOVERNMENT
Governmental Activities
General government 4,461,409$ 5,814,964$ 17,848$ -$
Public safety 12,608,966 1,418,860 70,926 137,300
Highways and streets 24,868,163 37,417 1,114,756 223,207
Interest 870,373 - - -
Total governmental activities 42,808,911 7,271,241 1,203,530 360,507
Business-Type Activities
Water and sewer 15,976,198 14,224,684 - -
Total business-type activities 15,976,198 14,224,684 - -
TOTAL PRIMARY GOVERNMENT 58,785,109$ 21,495,925$ 1,203,530$ 360,507$
Transfers
CHANGE IN NET POSITION
NET POSITION, MAY 1
NET POSITION, MAY 1, RESTATED
NET POSITION, APRIL 30
Program Revenues
VILLAGE OF PLAINFIELD, ILLINOIS
STATEMENT OF ACTIVITIES
For the Year Ended April 30, 2016
- 6 -
Governmental Business-Type
Activities Activities Total
1,371,403$ -$ 1,371,403$
(10,981,880) - (10,981,880)
(23,492,783) - (23,492,783)
(870,373) - (870,373)
(33,973,633) - (33,973,633)
- (1,751,514) (1,751,514)
- (1,751,514) (1,751,514)
(33,973,633) (1,751,514) (35,725,147)
General Revenues
Taxes
Property and replacement 6,633,529 - 6,633,529
Home rule sales 3,403,167 1,701,328 5,104,495
Utility/telecommunications 2,816,908 - 2,816,908
Local motor fuel 897,404 - 897,404
Other 7,587 - 7,587
Intergovernmental revenue - unrestricted
Sales and use tax 6,199,078 - 6,199,078
Income tax 4,218,244 - 4,218,244
Investment income 53,007 61,902 114,909
Miscellaneous 267,223 822,046 1,089,269
Transfers 498,100 (498,100) -
Total 24,994,247 2,087,176 27,081,423
CHANGE IN NET POSITION (8,979,386) 335,662 (8,643,724)
NET POSITION, MAY 1 255,980,783 98,132,603 354,113,386
Change in accounting principle (11,418,430) (335,235) (11,753,665)
NET POSITION, MAY 1, RESTATED 244,562,353 97,797,368 342,359,721
NET POSITION, APRIL 30 235,582,967$ 98,133,030$ 333,715,997$
Primary Government
Net (Expense) Revenue and Change in Net Position
See accompanying notes to financial statements.
- 7 -
Nonmajor Total
Capital Debt Governmental Governmental
General Projects Service Funds Funds
ASSETS
Cash and investments 8,433,247$ 8,506,605$ 2,133$ 3,937,850$ 20,879,835$
Receivables (net, where applicable,
of allowances for uncollectibles)
Property taxes 5,132,373 - 115,113 1,388,709 6,636,195
Sales tax 1,458,235 783,070 - - 2,241,305
Income tax 630,583 - - - 630,583
Utility tax - 362,616 - - 362,616
Allotments - - - 90,079 90,079
Grants 25,443 91,194 - - 116,637
Interest 12,165 - - - 12,165
Other 1,021,167 2,378 - 1,580 1,025,125
Prepaid items 142,187 - - - 142,187
Deposits 1,125,770 - - - 1,125,770
Total assets 17,981,170 9,745,863 117,246 5,418,218 33,262,497
DEFERRED OUTFLOWS OF RESOURCES
None - - - - -
TOTAL ASSETS AND DEFERRED
OUTFLOWS OF RESOURCES 17,981,170$ 9,745,863$ 117,246$ 5,418,218$ 33,262,497$
OUTFLOWS OF RESOURCES
ASSETS AND DEFERRED
VILLAGE OF PLAINFIELD, ILLINOIS
BALANCE SHEET
GOVERNMENTAL FUNDS
April 30, 2016
(This statement is continued on the following page.)
- 8 -
Nonmajor Total
Capital Debt Governmental Governmental
General Projects Service Funds Funds
LIABILITIES
Accounts payable 1,737,246$ 432,469$ -$ 257,124$ 2,426,839$
Accrued payroll 362,565 - - - 362,565
Impact fee 84,400 - - - 84,400
Recapture fee - 15,272 - - 15,272
Unearned revenue 41,635 460,688 - - 502,323
Developer deposit 15,871 - - - 15,871
Total liabilities 2,241,717 908,429 - 257,124 3,407,270
DEFERRED INFLOWS OF RESOURCES
Unavailable property tax revenue 5,132,373 - 115,113 1,388,709 6,636,195
Total deferred inflows of resources 5,132,373 - 115,113 1,388,709 6,636,195
Total liabilities and deferred inflows
of resources 7,374,090 908,429 115,113 1,645,833 10,043,465
FUND BALANCES
Nonspendable
Long-term receivables 363,498 - - - 363,498
Prepaid items 142,187 - - - 142,187
Restricted
Street maintenance - - - 2,819,181 2,819,181
Public safety 471,209 - - 40,651 511,860
Audit - - - 6,161 6,161
Liability insurance - - - 21,126 21,126
Retirement obligations 16,709 - - - 16,709
Economic development - - - 885,266 885,266
Unrestricted
Assigned
Capital projects - 8,837,434 - - 8,837,434
Debt service - - 2,133 - 2,133
Insurance 1,127,527 - - - 1,127,527
Unassigned 8,485,950 - - - 8,485,950
Total fund balances 10,607,080 8,837,434 2,133 3,772,385 23,219,032
TOTAL LIABILITIES, DEFERRED INFLOWS
OF RESOURCES, AND FUND BALANCES 17,981,170$ 9,745,863$ 117,246$ 5,418,218$ 33,262,497$
VILLAGE OF PLAINFIELD, ILLINOIS
BALANCE SHEET (Continued)
GOVERNMENTAL FUNDS
April 30, 2016
OF RESOURCES, AND FUND BALANCES
LIABILITIES, DEFERRED INFLOWS
See accompanying notes to financial statements.
- 9 -
FUND BALANCES OF GOVERNMENTAL FUNDS 23,219,032$
Amounts reported for governmental activities in the
statement of net position are different because:
Capital assets used in governmental activities are not financial resources
and, therefore, are not reported in the governmental funds 248,395,743
Bond premiums/discounts on bonds are expensed in governmental funds
but capitalized and amortized in the statement of net position
Unamortized bond premium (1,235,431)
Unamortized loss on refunding 1,936,717
Interest payable is not due and payable in the current period and, therefore,
is not reported in the governmental funds (302,306)
Differences between expected and actual experiences, assumption changes,
net differences between projected and actual earnings and contributions
subsequent to the measurement date for the Illinois Municipal Retirement
Fund are recognized as deferred outflows of resources and deferred inflows
of resources on the statement of net position
Deferred outflows of resources 991,599
Deferred inflows of resources (131,271)
Differences between expected and actual experiences, assumption changes,
and net differences between projected and actual earnings for the Police
Pension Plan are recognized as deferred outflows of resources and
deferred inflows of resources on the statement of net position
Deferred outflows of resources 3,570,617
Deferred inflows of resources (220,856)
Long-term liabilities, including bonds payable, are not due and payable in the
current period and, therefore, are not reported in the governmental funds
General obligation bonds (24,660,000)
Net pension liability - IMRF (2,997,858)
Net pension liability - Police Pension Plan (11,745,843)
Compensated absences payable (1,027,563)
Net other postemployment benefit obligation (209,613)
NET POSITION OF GOVERNMENTAL ACTIVITIES 235,582,967$
April 30, 2016
VILLAGE OF PLAINFIELD, ILLINOIS
RECONCILIATION OF FUND BALANCES OF GOVERNMENTAL FUNDS TO THE
GOVERNMENTAL ACTIVITIES IN THE STATEMENT OF NET POSITION
See accompanying notes to financial statements.
- 10 -
VILLAGE OF PLAINFIELD, ILLINOIS
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
For the Year Ended April 30, 2016
Nonmajor Total
Capital Debt Governmental Governmental
General Projects Service Funds Funds
REVENUES
Taxes 6,117,726$ 3,403,167$ 114,654$ 1,306,137$ 10,941,684$
Licenses and permits 1,177,055 - - - 1,177,055
Intergovernmental 10,457,664 3,023,852 - 1,114,756 14,596,272
Charges for services 5,089,159 11,635 - - 5,100,794
Fines and forfeits 638,090 248,468 - 21,398 907,956
Investment income 41,975 5,558 36 5,438 53,007
Miscellaneous 330,327 186,260 - 38,070 554,657
Total revenues 23,851,996 6,878,940 114,690 2,485,799 33,331,425
EXPENDITURES
Current
General government 3,521,721 - - 444,572 3,966,293
Public safety 10,973,706 - - 480,049 11,453,755
Highways and streets 6,719,447 - - 1,090,495 7,809,942
Capital outlay - 3,897,730 - - 3,897,730
Debt service
Principal retirement - - 2,215,000 - 2,215,000
Interest and fiscal charges - - 890,875 - 890,875
Total expenditures 21,214,874 3,897,730 3,105,875 2,015,116 30,233,595
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 2,637,122 2,981,210 (2,991,185) 470,683 3,097,830
OTHER FINANCING SOURCES (USES)
Transfers in 62,000 2,878,289 2,991,618 7,300 5,939,207
Transfers (out)(2,378,289) (2,500,818) - (562,000) (5,441,107)
Sale of fixed assets - 31,180 - 72,922 104,102
Total other financing sources (uses)(2,316,289) 408,651 2,991,618 (481,778) 602,202
NET CHANGE IN FUND BALANCES 320,833 3,389,861 433 (11,095) 3,700,032
FUND BALANCES, MAY 1 10,286,247 5,447,573 1,700 3,783,480 19,519,000
FUND BALANCES, APRIL 30 10,607,080$ 8,837,434$ 2,133$ 3,772,385$ 23,219,032$
See accompanying notes to financial statements.
- 11 -
NET CHANGE IN FUND BALANCES -
TOTAL GOVERNMENTAL FUNDS 3,700,032$
Amounts reported for governmental activities in the statement of
activities are different because:
Governmental funds report capital outlay as expenditures; however,
they are capitalized and depreciated in the statement of activities 1,450,126
The repayment of the principal portion long-term debt is reported as an
expenditure when due in governmental funds but as a reduction of
principal outstanding in the statement of activities
Principal on bonds 2,215,000
Governmental funds report the effect of premiums, discounts, and
similar items when debt is first issued, whereas these amounts are
deferred and amortized in the statement of activities (11,270)
The change in the Illinois Municipal Retirement Fund net pension
liability and deferred outflows/inflows of resources is not a source
or use of a financial resource (500,794)
The change in the Police Pension Plan net pension liability and
deferred outflows/inflows of resources is not a source or use
of a financial resource (339,633)
Some expenses in the statement of activities do not require the use of
current financial resources and, therefore, are not reported as
expenditures in governmental funds
Depreciation (15,378,283)
Change in net other postemployment benefit obligation (59,854)
Change in compensated absences (86,482)
Change in accrued interest payable 31,772
CHANGE IN NET POSITION OF GOVERNMENTAL ACTIVITIES (8,979,386)$
For the Year Ended April 30, 2016
VILLAGE OF PLAINFIELD, ILLINOIS
RECONCILIATION OF THE GOVERNMENTAL FUNDS STATEMENT OF REVENUES,
GOVERNMENTAL ACTIVITIES IN THE STATEMENT OF ACTIVITIES
EXPENDITURES, AND CHANGES IN FUND BALANCES TO THE
See accompanying notes to financial statements.
- 12 -
VILLAGE OF PLAINFIELD, ILLINOIS
STATEMENT OF NET POSITION
PROPRIETARY FUND
April 30, 2016
Water and
Sewer
CURRENT ASSETS
Cash and investments 14,466,033$
Receivables
Accounts 1,922,604
Sales tax 391,476
Other 251
Interest 21,781
Prepaid expenses 15,225
Total current assets 16,817,370
CAPITAL ASSETS
Nondepreciable 3,542,217
Depreciable, net of accumulated depreciation 103,167,181
Total capital assets 106,709,398
OTHER ASSETS
Deposits 201,555
Total other assets 201,555
Total assets 123,728,323
DEFERRED OUTFLOWS OF RESOURCES
Deferred outflows of resources - IMRF 203,098
Unamortized loss on refundings 2,546,454
Total deferred outflows of resources 2,749,552
Total assets and deferred outflows of resources 126,477,875
(This statement is continued on the following page.)
- 13 -
VILLAGE OF PLAINFIELD, ILLINOIS
STATEMENT OF NET POSITION (Continued)
PROPRIETARY FUND
April 30, 2016
Water and
Sewer
CURRENT LIABILITIES
Accounts payable 1,297,868$
Accrued payroll 48,915
Accrued interest 390,392
Compensated absences payable 67,650
Illinois EPA loan 155,470
Bonds payable 2,140,000
Developer deposit 27,247
Total current liabilities 4,127,542
LONG-TERM LIABILITIES
Compensated absences payable 9,194
Net pension liability 614,019
Illinois EPA loan 2,486,244
Bonds payable 21,080,959
Total long-term liabilities 24,190,416
Total liabilities 28,317,958
DEFERRED INFLOWS OF RESOURCES
Deferred inflows of resources - IMRF 26,887
Total liabilities and deferred inflows of resources 28,344,845
NET POSITION
Net investment in capital assets 83,393,179
Restricted for debt service 2,247,562
Unrestricted 12,492,289
TOTAL NET POSITION 98,133,030$
See accompanying notes to financial statements.
- 14 -
VILLAGE OF PLAINFIELD, ILLINOIS
STATEMENT OF REVENUES, EXPENSES, AND
CHANGES IN FUND NET POSITION
PROPRIETARY FUND
For the Year Ended April 30, 2016
Water and
Sewer
OPERATING REVENUES
Charges for services 14,224,684$
Total operating revenues 14,224,684
OPERATING EXPENSES
Water operations 9,756,641
Sewer operations 2,234,970
Depreciation 3,051,103
Total operating expenses 15,042,714
OPERATING INCOME (LOSS)(818,030)
NON-OPERATING REVENUES (EXPENSES)
Home rule sales tax 1,701,328
Miscellaneous revenue 822,046
Investment income 61,902
Interest expense (933,484)
Total non-operating revenues (expenses)1,651,792
INCOME BEFORE TRANSFERS 833,762
TRANSFERS
Transfers (out)(498,100)
CHANGE IN NET POSITION 335,662
NET POSITION, MAY 1 98,132,603
Change in accounting principle (335,235)
NET POSITION, MAY 1, RESTATED 97,797,368
NET POSITION, APRIL 30 98,133,030$
See accompanying notes to financial statements.
- 15 -
VILLAGE OF PLAINFIELD, ILLINOIS
STATEMENT OF CASH FLOWS
PROPRIETARY FUND
For the Year Ended April 30, 2016
Water and
Sewer
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customers and users 14,153,220$
Reimbursements to other funds (250,000)
Payments to suppliers (10,423,954)
Payments to employees (1,223,052)
Net cash from operating activities 2,256,214
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES
Transfers (out) (498,100)
Non-operating revenues 2,498,819
Net cash from noncapital financing activities 2,000,719
CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES
Purchase of capital assets (383,205)
Principal payments on long-term debt (2,113,545)
Interest paid (822,520)
Net cash from capital and related
financing activities (3,319,270)
CASH FLOWS FROM INVESTING ACTIVITIES
Sales of investment securities 324,845
Interest received 68,799
Net cash from investing activities 393,644
NET INCREASE IN CASH AND
CASH EQUIVALENTS 1,331,307
CASH AND CASH EQUIVALENTS, MAY 1 11,842,863
CASH AND CASH EQUIVALENTS, APRIL 30 13,174,170$
(This statement is continued on the following page.)
- 16 -
VILLAGE OF PLAINFIELD, ILLINOIS
STATEMENT OF CASH FLOWS (Continued)
PROPRIETARY FUND
For the Year Ended April 30, 2016
Water and
Sewer
RECONCILIATION OF OPERATING INCOME (LOSS) TO NET
CASH FLOWS FROM OPERATING ACTIVITIES
Operating income (loss)(818,030)$
Adjustments to reconcile operating income
(loss) to net cash from operating activities
Depreciation and amortization 3,051,103
Changes in assets and liabilities
Accounts receivable (71,464)
Prepaid fees 1,942
Deposits 5,429
Pension items - IMRF 102,573
Accounts payable (23,567)
Accrued expenses 8,228
NET CASH FROM OPERATING ACTIVITIES 2,256,214$
CASH AND INVESTMENTS
Cash and cash equivalents 13,174,170$
Investments 1,291,863
TOTAL CASH AND INVESTMENTS 14,466,033$
NONCASH TRANSACTIONS
None -$
See accompanying notes to financial statements.
- 17 -
STATEMENT OF FIDUCIARY NET POSITION
FIDUCIARY FUNDS
April 30, 2016
Police
Pension
ASSETS
Cash and short-term investments 135,651$
Investments
U.S. Government and U.S. agency obligations 9,373,477
Municipal bonds 1,478,600
Mutual funds 13,292,255
Real estate investment trust 367,111
Receivables
Accrued interest receivable 79,154
Total assets 24,726,248
LIABILITIES
Accounts payable 1,395
Total liabilities 1,395
NET POSITION RESTRICTED
FOR PENSIONS 24,724,853$
VILLAGE OF PLAINFIELD, ILLINOIS
See accompanying notes to financial statements.
- 18 -
STATEMENT OF CHANGES IN FIDUCIARY NET POSITION
FIDUCIARY FUNDS
For the Year Ended April 30, 2016
ADDITIONS
Contributions
Employer 948,599$
Employee 490,958
Total contributions 1,439,557
Investment income
Net depreciation in fair value
of investments (795,015)
Interest 791,770
Total investment income (3,245)
Less investment expense (69,450)
Net investment income (72,695)
Total additions 1,366,862
DEDUCTIONS
Benefits and refunds 434,932
Administration 32,827
Total deductions 467,759
NET INCREASE 899,103
NET POSITION RESTRICTED
FOR PENSIONS
May 1 23,825,750
April 30 $ 24,724,853
VILLAGE OF PLAINFIELD, ILLINOIS
See accompanying notes to financial statements.
- 19 -
- 20 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS
April 30, 2016
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The financial statements of the Village of Plainfield, Illinois (the Village) have been
prepared in conformity with accounting principles generally accepted in the United States
of America (hereinafter referred to as generally accepted accounting principles (GAAP)),
as applied to government units. The Governmental Accounting Standards Board (GASB) is
the accepted standard-setting body for establishing governmental accounting and financial
reporting principles. The more significant of the Village’s accounting policies are
described below.
a. Reporting Entity
The Village was incorporated June 1, 1877. The Village operates under a
President-Board of Trustees form of government and provides the following services
as authorized by its charter: public safety (police), highways and streets, water
distribution, wastewater treatment, public improvements, planning and zoning, and
general administrative services. As required by GAAP, these financial statements
present the Village (the primary government). In evaluating how to define the
reporting entity, management has considered all potential component units. The
decision to include a potential component unit in the reporting entity was based upon
the significance of its operational or financial relationship with the primary
government. There are no component units that are required to be included in the
Village’s basic financial statements.
b. Fund Accounting
The Village uses funds to report on its financial position and the changes in financial
position. Fund accounting is designed to demonstrate legal compliance and to aid
financial management by segregating transactions related to certain Village functions
or activities. A fund is a separate accounting entity with a self-balancing set of
accounts.
Funds are classified into the following categories: governmental, proprietary, and
fiduciary.
Governmental funds are used to account for all or most of the Village’s general
activities, including the collection and disbursement of restricted or committed
monies (special revenue funds), the funds restricted, committed, or assigned for the
acquisition or construction of major capital assets (capital projects funds), and the
funds restricted, committed, or assigned for 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.
- 20 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 21 -
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
b. Fund Accounting (Continued)
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.
Fiduciary funds are used to account for assets held on behalf of outside parties,
including other governments, or on behalf of other funds within the Village. The
Village utilizes a pension trust fund, which is used to account for assets that the
Village holds in a fiduciary capacity.
c. Government-Wide and Fund Financial Statements
The government-wide financial statements (i.e., the statement of net position and the
statement of activities) report information on all of the nonfiduciary activities of the
Village. The effect of material interfund activity has been eliminated from these
statements. Governmental activities, which normally are supported by taxes and
intergovernmental revenues, are reported separately from business-type activities,
which rely to a significant extent on fees and charges for support.
The statement of activities demonstrates the degree to which the direct expenses of a
given function, segment, or program are offset by program revenues. Direct expenses
are those that are clearly identifiable with a specific function or segment. Program
revenues include (1) charges to customers or applicants who purchase, use, or
directly benefit from goods, services, or privileges provided by a given function or
segment and (2) grants and contributions that are restricted to meeting the operational
or capital requirements of a particular function or segment. Taxes and other items not
properly included among program revenues are reported instead as general revenues.
Separate financial statements are provided for governmental funds, proprietary funds,
and fiduciary funds, even though the latter are excluded from the government-wide
financial statements. Major individual governmental funds and major individual
enterprise funds are reported as separate columns in the fund financial statements.
The Village reports the following major governmental funds:
The General Fund is the general operating fund of the Village. It is used to
account for all financial resources not accounted for in another fund.
The Capital Projects Fund is used to account for financial resources to be used
for the acquisition or construction of major capital assets (other than those
financed by proprietary funds).
- 21 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 22 -
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
c. Government-Wide and Fund Financial Statements (Continued)
The Debt Service Fund is used to account for the accumulation of resources
for, and the payment of bond principal, interest, and related costs (other than
those repaid by proprietary funds).
The Village reports the following major proprietary fund:
The Water and Sewer Fund is used to account for operations that are financed
and operated in a manner similar to private business enterprises where the
intent of the governing body is that costs of providing goods or services to the
general public on a continuing basis be financed or recovered primarily through
user charges.
The Village reports a pension trust fund as a fiduciary fund to account for the Police
Pension Fund.
d. Measurement Focus, Basis of Accounting, and Financial Statement Presentation
The government-wide financial statements are reported using the economic resources
measurement focus and the accrual basis of accounting as are the proprietary fund
and fiduciary fund financial statements. Revenues and additions are recorded when
earned and expenses and deductions are recorded when a liability is incurred.
Property taxes are recognized as revenues in the year for which they are levied (i.e.,
intended to finance). Grants and similar items are recognized as revenue as soon as
all eligibility requirements imposed by the provider have been met. Operating
revenues and expenses are directly attributable to the operation of the proprietary
funds. Non-operating revenue/expenses are incidental to the operations of these
funds.
Governmental fund financial statements are reported using the current financial
resources measurement focus and the modified accrual basis of accounting. Under
the modified accrual basis of accounting, revenues are recognized when susceptible
to accrual (i.e., when they become both measurable and available). “Measurable”
means the amount of the transaction can be determined and “available” means
collectible within the current period or soon enough thereafter to be used to pay
liabilities of the current period, generally 60 days except for certain revenues
collected by the State (e.g., sales and telecom taxes) which use a 90-day period.
The Village recognizes property taxes when they become both measurable and
available in the year in which they are intended to finance. Expenditures are recorded
when the related fund liability is incurred. Principal and interest on general long-term
debt are recorded as expenditures when due.
- 22 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 23 -
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
d. Measurement Focus, Basis of Accounting, and Financial Statement Presentation
(Continued)
Those revenues susceptible to accrual are property taxes, franchise fees, licenses,
interest revenue, and charges for services. Personal property replacement taxes owed
to the state at year-end on behalf of the Village also are recognized as revenue. Fines
and permits revenues are not susceptible to accrual because generally they are not
measurable until received in cash.
In applying the susceptible to accrual concept to intergovernmental revenues, the
legal and contractual requirements of the numerous individual programs are used as
guidelines. Monies that are virtually unrestricted as to purpose of expenditure, which
are usually revocable only for failure to comply with prescribed compliance
requirements, are reflected as revenues at the time of receipt or earlier if the
susceptible to accrual criteria is met.
The Village reports unavailable/deferred revenue and unearned revenue on its
financial statements. Unavailable/deferred revenues arise when a potential revenue
does not meet the measurable and available or earned criteria for recognition in the
current period. Unearned revenues arise when resources are received by the Village
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 Village has a legal claim to the resources,
the deferred inflow for unavailable/deferred revenue or the liability for unearned
revenue is removed from the financial statements and revenue is recognized.
e. Cash and Investments
Cash and Cash Equivalents
For purposes of the statement of cash flows, the Village’s proprietary funds consider
their equity in pooled cash and all highly liquid investments with an original maturity
of three months or less when purchased to be cash equivalents.
Investments
Investments with a maturity of less than one year when purchased and non-negotiable
certificates of deposit are stated at cost or amortized cost. Investments with a
maturity greater than one year when purchased and all investments of the pension
trust funds are stated at fair value. Fair value is based on prices listed on national
exchanges as of April 30, 2016 for debt and equity securities, and mutual funds.
Insurance separate accounts, if any, are valued at contract value as of April 30, 2016.
- 23 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 24 -
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
f. Interfund Receivables/Payables
During the course of operations, numerous transactions occur between individual
funds for goods provided or services rendered. These receivables and payables are
classified as “due to/from other funds” on the financial statements. Long-term
interfund loans are classified as “advances to/from other funds.”
g. 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 on the consumption method.
h. Capital Assets
Capital assets, which include property, plant, equipment, infrastructure assets (e.g.,
roads, bridges, stormwater systems), and intangibles (easements and software), are
reported in the applicable governmental or business-type activities columns in the
government-wide financial statements. Capital assets are defined by the Village as
assets with an initial, individual cost of $5,000 for machinery and equipment,
$20,000 for building and improvements, and $50,000 for infrastructure and an
estimated useful life in excess of one year. All land and land improvements are
capitalized, regardless of cost. Such assets are recorded at historical cost or estimated
historical cost if purchased or constructed. Donated capital assets are recorded at
estimated fair market value at the date of donation.
The costs of normal maintenance and repairs that do not add to the value of the asset
or materially extend asset lives are not capitalized.
Major outlays for capital assets and improvements are capitalized as projects are
constructed. Interest incurred during the construction phase of capital assets of
business-type activities is included as part of the capitalized value of the assets
constructed. Property, plant, and equipment is depreciated using the straight-line
method over the following estimated useful lives:
Assets Years
Building and improvements 5-50
Vehicles, equipment, and software 3-20
Infrastructure 15-50
- 24 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 25 -
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
i. Compensated Absences
Vested or accumulated vacation leave that is due to employees who have retired or
been terminated by the end of the year is reported as an expenditure and a fund
liability of the governmental fund that will pay it. Vested or accumulated vacation
leave of proprietary funds and governmental activities is recorded as an expense and
liability of those funds as the benefits accrue to employees.
j. Fund Balance/Net Position
In the fund financial statements, governmental funds report nonspendable fund
balance for amounts that are either not in spendable form or legally or contractually
required to be maintained intact. Restrictions of fund balance are reported for
amounts constrained by legal restrictions from outside parties for use for a specific
purpose, or externally imposed by outside entities. Committed fund balance is
constrained by formal actions of the Village Board of Trustees, which is considered
the Village’s highest level of decision-making authority. Formal actions include
resolutions and ordinances (equally binding) approved by the Board of Trustees.
Assigned fund balance represents amounts constrained by the Village’s intent to use
them for a specific purpose. In accordance with the Village’s financial policies, the
authority to assign fund balance has been delegated to the Village’s Director of
Management Services, consistent with the intentions of the Village Board of
Trustees. Any residual fund balance of the General Fund and any deficit balances in
other governmental funds are reported as unassigned.
The Village has adopted targeted fund balances for two of its funds. The General
Fund has a targeted unassigned fund balance of at least 25% of the total General
Fund annual expenditures. General Fund unassigned fund balance in excess of 40%
may be transferred to the Capital Improvement Fund. The Water and Sewer Fund has
a targeted unrestricted net position of 25% of the total Water and Sewer Fund annual
expenditures. If the balances exceed 40%, the overage may be used to offset rate
increases or be transferred to the Village’s Capital Projects Fund, or a combination
thereof.
The Village’s flow of funds assumption prescribes that the funds with the highest
level of constraint are expended first. If restricted or unrestricted funds are available
for spending, the restricted funds are spent first. Additionally, if different levels of
unrestricted funds are available for spending, the Village considers committed funds
to be expended first followed by assigned and then unassigned funds.
- 25 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 26 -
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
j. Fund Balance/Net Position (Continued)
In the government-wide financial statements, restricted net position is legally
restricted by outside parties for a specific purpose. Net investment in capital assets
represents the Village’s investment in the book value of capital assets, less any
outstanding debt that was issued to construct or acquire the capital asset.
k. Long-Term Obligations
In the government-wide financial statements and proprietary funds in the fund
financial statements, long-term debt, and other long-term obligations are reported as
liabilities in the applicable governmental activities or business-type activities
columns, or proprietary fund financial statements. Bond premiums and discounts, as
well as gains and losses on refundings, are deferred and amortized over the life of the
bonds. Bonds payable are reported net of the applicable bond premiums or discounts.
Bond issuance costs are expensed as incurred.
In the fund financial statements, governmental funds recognize bond premiums and
discounts, as well as bond issuance costs, during the current period. The face amount
of debt issued is reported as an other financing source. Premiums received on debt
issuances are reported as other financing sources while discounts on debt issuances
are reported as other financing uses. Bond issuance costs, whether or not withheld
from the actual debt proceeds received, are reported as expenditures.
l. Interfund Transactions
Interfund service transactions are accounted for as revenues, expenditures, or
expenses. Transactions that constitute reimbursements to a fund for
expenditures/expenses initially made from it that are properly applicable to another
fund, are recorded as expenditures/expenses in the reimbursing fund and as
reductions of expenditures/expenses in the fund that is reimbursed.
All other interfund transactions, except interfund service transactions and
reimbursements, are reported as transfers.
m. Deferred Outflows/Inflows of Resources
In addition to assets, the statement of financial position will sometimes report a
separate section for deferred outflows of resources. This separate financial statement
element represents a consumption of net assets that applies to a future period(s) and
so will not be recognized as an outflow of resources (expense/expenditure) until then.
In addition to liabilities, the statement of financial position will sometimes report a
separate section for deferred inflows of resources. This separate financial statement
element represents an acquisition of net assets that applies to a future period(s) and
so will not be recognized as an inflow of resources (revenue) until that time.
- 26 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 27 -
2. DEPOSITS AND INVESTMENTS
The Village maintains a cash and investment pool that is available for use by all funds,
except the pension trust fund. Each fund type’s portion of this pool is displayed as “cash
and investments.” In addition, deposits and investments are separately held by several of
the Village’s funds.
Permitted Deposits and Investments - the Village’s investment policy authorizes the
Village to make deposits/invest in insured commercial banks, savings and loan institutions,
obligations of the U.S. Treasury and U.S. agencies, insured credit union shares, money
market mutual funds with portfolios of securities issued or guaranteed by the United States
Government or agreements to repurchase these same obligations, repurchase agreements,
short-term commercial paper rated within the three highest classifications by at least two
standard rating services, and Illinois Funds (a money market fund created by the State of
Illinois under the State Treasurer that maintains a $1 per share value).
Illinois Funds is an investment pool managed by the State of Illinois, Office of the
Treasurer, which allows governments within the state to pool their funds for investment
purposes. Illinois Funds is not registered with the SEC as an investment company, but does
operate in a manner consistent with Rule 2a7 of the Investment Company Act of 1940.
Investments in Illinois Funds are valued at Illinois Funds’ share price, the price for which
the investment could be sold.
a. Village Deposits and Investments
It is the policy of the Village to invest its funds in a manner which will provide the
highest investment return with the maximum security while meeting the daily cash
flow demands of the Village and conforming to all state and local statutes governing
the investment of public funds, using the “prudent person” standard for managing the
overall portfolio. The primary objectives of the policy are, in order of priority, safety,
liquidity, and yield.
Deposits with Financial Institutions
Custodial credit risk for deposits with financial institutions is the risk that in the
event of bank failure, the Village’s deposits may not be returned to it. The Village’s
investment policy requires bank balances to be secured by some form of collateral,
witnessed by a written agreement, and held at an independent third party institution
in the name of the municipality.
- 27 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 28 -
2. DEPOSITS AND INVESTMENTS (Continued)
a. Village Deposits and Investments (Continued)
Investments
The following table presents the investments and maturities of the Village’s debt
securities as of April 30, 2016:
Investment Maturities (in Years)
Investment Type Fair Value Less than 1 1-5 6-10 Greater than 10
IMET $ 5,419,393 $ - $ 5,419,393 $ - $ -
Negotiable certificates of deposit 5,229,574 3,233,558 1,996,016 - -
Municipal bonds 1,803,279 1,803,279 - - -
TOTAL $ 12,452,246 $ 5,036,837 $ 7,415,409 $ - $ -
Interest rate risk is the risk that changes in interest rates will adversely affect the fair
value of an investment. In accordance with its investment policy, the Village limits
its exposure to interest rate risk by matching its investments with anticipated cash
flow requirements. Unless matched to a specific cash flow, the Village does not
directly invest in securities maturing more than two years from the date of purchase.
Reserved funds and other funds with longer term investment horizons may be
invested in securities exceeding two years if the maturities of such investments are
made to coincide as nearly as practicable with the expected use of the funds.
Credit risk is the risk that the issuer of a debt security will not pay its par value upon
maturity. The Village limits its exposure to credit risk by limiting investments to the
types of securities listed above and diversifying the investment portfolio to the best
of its abilities based on the type of funds invested and the cash flow needs of those
funds. Illinois Funds and Illinois Metropolitan Investment Fund (IMET) are rated
AAA. The Village’s Municipal Bonds have ratings from A+ to AA-.
Custodial credit risk for investments is the risk that, in the event of the failure of the
counterparty to the investment, the Village will not be able to recover the value of its
investments that are in possession of an outside party. To limit its exposure, the
Village’s investment policy requires all security transactions that are exposed to
custodial credit risk to be processed on a delivery versus payment (DVP) basis with
the underlying investments held by an independent third party custodian and
evidenced by safekeeping receipts and a written custodial agreement. Illinois Funds
and IMET are not subject to custodial credit risk.
- 28 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 29 -
2. DEPOSITS AND INVESTMENTS (Continued)
a. Village Deposits and Investments (Continued)
Investments (Continued)
Concentration of credit risk is the risk that the Village has a high percentage of its
investments invested in one type of investment. The Village’s investment policy
requires diversification of investments to avoid unreasonable risk. The investments
shall be diversified by type of investment, number of institutions invested in, and
length of maturity. In addition, a portion of the Village’s portfolio should
continuously be invested in readily available funds such as Local Government
Investment Pools (LGIPS), money market funds, or overnight repurchase agreements
to ensure that appropriate liquidity is maintained to meet ongoing obligations.
3. RECEIVABLES - PROPERTY TAXES
Property taxes for the 2015 levy year attach as an enforceable lien on January 1, 2015, on
property values assessed as of the same date. Taxes are levied by December 31 of the
subsequent fiscal year by passage of a Tax Levy Ordinance. Tax bills are prepared by the
County and issued on or about May 1, 2016 and August 1, 2016, and are payable in two
installments, on or about June 1, 2016 and September 1, 2016. The County collects such
taxes and remits them periodically. The allowance for uncollectible taxes has been stated at
1% to 2% of the tax levy, to reflect actual collection experience. The 2015 taxes are
intended to finance the 2017 fiscal year and are not considered available for current
operations and are, therefore, shown as unavailable/deferred revenue. The 2016 tax levy
has not been recorded as a receivable at April 30, 2016, as the tax attached as a lien on
property as of January 1, 2016; however, the tax will not be levied until December 2016
and, accordingly, is not measurable at April 30, 2016.
4. CAPITAL ASSETS
a. Capital Assets
Capital asset activity for the year ended April 30, 2016 was as follows:
Beginning
Balances
Increases
Decreases
Ending
Balances
GOVERNMENTAL ACTIVITIES
Capital assets not being depreciated
Land $ 9,429,279 $ - $ - $ 9,429,279
Land right of way 90,191,186 - - 90,191,186
Construction in progress 4,090,833 602,145 13,510 4,679,468
Total capital assets not being depreciated 103,711,298 602,145 13,510 104,299,933
- 29 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 30 -
4. CAPITAL ASSETS (Continued)
a. Capital Assets (Continued)
Beginning
Balances
Increases
Decreases
Ending
Balances
GOVERNMENTAL ACTIVITIES (Continued)
Capital assets being depreciated
Buildings and improvements $ 31,341,817 $ 184,757 $ - $ 31,526,574
Vehicles and equipment 5,881,100 676,734 152,696 6,405,138
Infrastructure 318,676,573 - - 318,676,573
Total capital assets being depreciated 355,899,490 861,491 152,696 356,608,285
Less accumulated depreciation for
Buildings 8,627,270 844,791 - 9,472,061
Vehicles and equipment 4,900,397 419,658 152,696 5,167,359
Infrastructure 183,759,221 14,113,834 - 197,873,055
Total accumulated depreciation 197,286,888 15,378,283 152,696 212,512,475
Total capital assets being depreciated, net 158,612,602 (14,516,792) - 144,095,810
GOVERNMENTAL ACTIVITIES
CAPITAL ASSETS, NET $ 262,323,900 $ (13,914,647) $ 13,510 $ 248,395,743
BUSINESS-TYPE ACTIVITIES
Capital assets not being depreciated
Land $ 3,043,544 $ - $ - $ 3,043,544
Construction in progress 184,948 393,318 79,593 498,673
Total capital assets not being depreciated 3,228,492 393,318 79,593 3,542,217
Capital assets being depreciated
Buildings 17,448,092 - - 17,448,092
Vehicles and equipment 1,160,048 69,480 16,498 1,213,030
Water transmission system 68,161,143 - - 68,161,143
Sewer collection system 54,368,452 - - 54,368,452
Total capital assets being depreciated 141,137,735 69,480 16,498 141,190,717
Less accumulated depreciation for
Buildings 4,705,248 348,962 - 5,054,210
Vehicles and equipment 1,041,082 45,522 16,498 1,070,106
Water transmission system 16,289,469 1,553,176 - 17,842,645
Sewer collection system 12,953,132 1,103,443 - 14,056,575
Total accumulated depreciation 34,988,931 3,051,103 16,498 38,023,536
Total capital assets being depreciated, net 106,148,804 (2,981,623) - 103,167,181
BUSINESS-TYPE ACTIVITIES
CAPITAL ASSETS, NET $ 109,377,296 $ (2,588,305) $ 79,593 $ 106,709,398
- 30 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 31 -
4. CAPITAL ASSETS (Continued)
a. Capital Assets (Continued)
Depreciation expense was charged to functions/programs of the primary government
as follows:
GOVERNMENTAL ACTIVITIES
General government $ 303,993
Public safety 635,396
Highways and streets 14,438,894
TOTAL DEPRECIATION EXPENSE - GOVERNMENTAL ACTIVITIES $ 15,378,283
b. Construction Contracts
The Village had no significant construction commitments at April 30, 2016.
5. RISK MANAGEMENT
The Village is exposed to various risks of loss related to torts; theft of, damage to, and
destruction of assets; errors and omissions; injuries to employees; and net income losses.
To insure against the losses, the Village participates in the Southwest Agency for Risk
Management (SWARM), a public entity risk pool with transfers of risk. The Village pays
an annual premium to SWARM for property, general liability, employee benefit
administration liability, auto liability, law enforcement liability, public officials’ liability,
employment practices liability, and workers’ compensation coverage. The following table
is a summary of coverage in effect for the period May 1, 2015 through April 30, 2016:
Coverage
SWARM
Self-Insured
Retention/
Deductible
Limits
Property $ 50,000 $ 200,000,000/member
General liability 100,000 4,000,000/member
Employee benefit administration liability 100,000 3,000,000/member
Auto liability 100,000 2,000,000/member
Law enforcement liability 100,000 2,000,000/member
Public officials liability 100,000 2,000,000/member
Employment practices liability 100,000 2,000,000/member
Workers’ compensation 600,000/occurrence Statutory
Umbrella policy N/A 8,000,000/member
Excess liability N/A $10MM xs $10MM
The Village is not aware of any additional premiums owed to SWARM as of April 30,
2016 for the current or prior claim years.
- 31 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 32 -
6. LONG-TERM DEBT
a. General Obligation Bonds
General obligation bonds are direct obligations and pledge the full faith and credit of
the Village. General obligation bonds currently outstanding are as follows:
Issue
Fund
Debt
Retired by
Balances
May 1,
Issuances
Refundings/
Retirements
Balances
April 30,
Current
Portion
$10,755,000 General
Obligation Bonds of 2005A,
annual installments of $380,000
to $835,000 through
December 15, 2015, interest at
3.25% to 5.00% payable each
June 15 and December 15.
Debt
Service
$ 540,000
$ -
$ 540,000
$ -
$ -
$5,610,000 General Obligation
Refunding Bonds of 2005B,
annual installments of $15,000
to $1,160,000 through
December 15, 2016, interest at
3.25% to 5.00% payable each
June 15 and December 15.
Water and
Sewer
1,260,000
-
1,160,000
100,000
100,000
$15,135,000 General
Obligation Bonds of 2007,
annual installments of $515,000
to $1,175,000 through
December 15, 2026, interest at
4% to 5% payable each June 15
and December 15.
Debt
Service
2,340,000
-
690,000
1,650,000
725,000
$865,000 General Obligation
Refunding Bonds of 2009,
annual installments of $5,000 to
$110,000 through December 15,
2019, interest at 2% to 4%
payable each June 15 and
December 15.
Debt
Service
510,000
-
95,000
415,000
100,000
$9,280,000 General Obligation
Refunding Bonds of 2010,
annual installments of $640,000
to $960,000 through
December 15, 2023, interest at
2% to 4% payable each June 15
and December 15.
Debt
Service
7,330,000
-
690,000
6,640,000
720,000
$6,820,000 General Obligation
Refunding Bonds of 2012,
annual installments of $75,000
to $805,000 through
December 15, 2024, interest at
2% to 3% payable each June 15
and December 15.
Debt
Service
6,560,000
-
75,000
6,485,000
645,000
- 32 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 33 -
6. LONG-TERM DEBT (Continued)
a. General Obligation Bonds (Continued)
Issue
Fund
Debt
Retired by
Balances
May 1,
Issuances
Refundings/
Retirements
Balances
April 30,
Current
Portion
$7,370,000 General Obligation
Refunding Bonds of 2013,
annual installments of $355,000
to $1,780,000 through
December 15, 2019, interest at
2% to 4% payable each June 15
and December 15.
Water and
Sewer
$ 7,015,000
$ -
$ 370,000
$ 6,645,000
$ 1,500,000
$9,665,000 General Obligation
Refunding Bonds of 2014,
annual installments of $70,000
to $1,160,000 through
December 15, 2026, interest at
2.0% to 3.5% payable each
June 15 and December 15.
Debt
Service
9,595,000
-
125,000
9,470,000
125,000
TOTAL GENERAL
OBLIGATION BONDS
$ 35,150,000
$ -
$ 3,745,000
$ 31,405,000
$ 3,915,000
b. Revenue Bonds Payable
Revenue bonds currently outstanding are shown in the table that follows. Both
issuances are collateralized by the revenue of the water and sewer system and the
various restricted accounts established by the bond ordinances.
Issue.
Fund
Debt
Retired by
Balances
May 1,
Issuances
Refundings/
Retirements
Balances
April 30,
Current
Portion
$16,385,000 Water and Sewer
System Revenue Bonds of 2008,
annual installments of $355,000
to $1,140,000 through May 1,
2034, interest at 4.185% to
5.625% payable each May 1
and November 1.
Water and
Sewer
$ 1,855,000
$ -
$ 430,000
$ 1,425,000
$ 450,000
$13,740,000 Water and Sewer
System Revenue Refunding
Bonds of 2015, annual
installments of $90,000 to
$1,100,000 through May 1,
2034, interest at 2% to 4%
payable each May 1 and
November 1.
Water and
Sewer
13,740,000
-
-
13,740,000
90,000
TOTAL REVENUE BONDS $ 15,595,000 $- $ 430,000 $ 15,165,000 $ 540,000
- 33 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 34 -
6. LONG-TERM DEBT (Continued)
b. Revenue Bonds Payable (Continued)
The amount of pledge remaining as of April 30, 2016 is as follows:
Pledged
Revenue
Source
Pledge
Remaining
Commitment
End Date
Pledged
Revenue
Collected
Principal
and Interest
Paid
Water and Sewer System
Revenue Bonds of 2008
Revenues of
the System
$ 1,566,538
5/1/18
$ 14,224,684
$ 508,484
Water and Sewer System
Revenue Bonds of 2015
Revenues of
the System
19,921,325
5/1/34
14,224,684
435,569
c. Illinois EPA Loans
Issue
Fund
Debt
Retired by
Balances
May 1,
Issuances
Refundings/
Retirements
Balances
April 30,
Current
Portion
$3,309,451 Illinois EPA low
interest loan, semiannual
installments through June 15,
2031, interest at 1.25% payable
each June 15 and December 15.
Water and
Sewer
$ 2,795,259
$ -
$ 153,545
$ 2,641,714
$ 155,470
TOTAL ILLINOIS EPA LOANS $ 2,795,259 $ - $ 153,545 $ 2,641,714 $ 155,470
d. Debt Service Requirements to Maturity
Annual debt service requirements to maturity are as follows:
Governmental Activities
Fiscal General Obligation Bonds
Year Principal Interest
2017 $ 2,315,000 $ 806,150
2018 2,395,000 733,025
2019 2,475,000 650,150
2020 2,560,000 571,250
2021 2,520,000 494,800
2022 2,635,000 410,800
2023 2,745,000 323,000
2024 2,840,000 231,450
2025 1,895,000 136,650
2026 1,120,000 79,800
2027 1,160,000 40,600
TOTAL $ 24,660,000 $ 4,477,675
- 34 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 35 -
6. LONG-TERM DEBT (Continued)
d. Debt Service Requirements to Maturity (Continued)
Business-Type Activities
Fiscal General Obligation Bonds Revenue Bonds
Year Principal Interest Principal Interest
2017 $ 1,600,000 $ 205,325 $ 540,000 $ 601,125
2018 1,655,000 171,450 565,000 578,513
2019 1,710,000 121,800 590,000 553,850
2020 1,780,000 53,400 620,000 515,550
2021 - - 645,000 490,250
2022 - - 665,000 464,050
2023 - - 700,000 436,750
2024 - - 725,000 408,250
2025 - - 750,000 378,750
2026 - - 780,000 348,150
2027 - - 810,000 316,350
2028 - - 840,000 283,350
2029 - - 875,000 249,050
2030 - - 920,000 213,150
2031 - - 950,000 175,750
2032 - - 990,000 136,950
2033 - - 1,030,000 96,550
2034 - - 1,070,000 57,225
2035 - - 1,100,000 19,250
TOTAL $ 6,745,000 $ 551,975 $ 15,165,000 $ 6,322,863
Business-Type Activities
Fiscal Illinois EPA Loans
Year Principal Interest
2017 $ 155,470 $ 32,537
2018 157,419 30,588
2019 159,393 28,614
2020 161,392 26,615
2021 163,416 24,591
2022 165,465 22,542
2023 167,540 20,467
2024 169,640 18,367
2025 171,767 16,240
2026 173,921 14,086
2027 176,102 11,905
2028 178,310 9,697
2029 180,546 7,461
2030 182,810 5,197
2031 185,102 2,905
2032 93,421 584
TOTAL $ 2,641,714 $ 272,396
- 35 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 36 -
6. LONG-TERM DEBT (Continued)
e. Changes in Long-Term Liabilities
The following is a summary of changes in bonds, installment notes payable, debt
certificates, and other long-term liabilities during fiscal year 2016:
Balances
May 1
Additions
Reductions
Balances
April 30
Current
Portion
GOVERNMENTAL ACTIVITIES
General obligation bonds $ 26,875,000 $ - $ 2,215,000 $ 24,660,000 $ 2,315,000
Compensated absences payable* 941,081 822,915 736,433 1,027,563 743,809
Net pension liability - IMRF* 1,821,619 1,176,239 - 2,997,858 -
Net pension liability - Police
Pension Plan* 8,056,449 3,689,394 - 11,745,843 -
Net other postemployment benefit
obligation*
149,759
59,854
-
209,613
-
Unamortized bond premiums 1,287,546 - 52,115 1,235,431 -
TOTAL GOVERNMENTAL
ACTIVITIES $ 39,131,454 $ 5,748,402 $ 3,003,548 $ 41,876,308 $ 3,058,809
*These obligations have typically been liquidated by the General Fund.
Balances
May 1
Additions
Reductions
Balances
April 30
Current
Portion
BUSINESS-TYPE ACTIVITIES
General obligation bonds $ 8,275,000 $ - $ 1,530,000 $ 6,745,000 $ 1,600,000
Revenue bonds 15,595,000 - 430,000 15,165,000 540,000
Illinois EPA Loan 2,795,259 - 153,545 2,641,714 155,470
Compensated absences payable 96,257 64,167 83,580 76,844 67,650
Net pension liability - IMRF 373,103 240,916 - 614,019 -
Unamortized bond premium 1,396,794 - 85,835 1,310,959 -
TOTAL BUSINESS-TYPE
ACTIVITIES
$ 28,531,413
$ 305,083
$ 2,282,960
$ 26,553,536
$ 2,363,120
f. Advance Refunding
On July 16, 2014, the Village issued $9,665,000 General Obligation Bonds, the
proceeds of which were placed in an irrevocable escrow, to advance refund
$8,690,000 of the outstanding 2007 General Obligation Bonds. The refunded bonds
will be called and retired on December 15, 2017.
On January 7, 2015, the Village issued $13,740,000 Water and Sewer System
Revenue Refunding Bonds, the proceeds of which were placed in an irrevocable
escrow, to advance refund $6,305,000 of the outstanding First Lien of the 2008
Water and Sewer System Revenue Bonds and $6,310,000 of the outstanding Second
Lien of the 2008 Water and Sewer System Revenue Bonds. The refunded bonds will
be called and retired on May 1, 2018.
- 36 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 37 -
7. INTERFUND ACTIVITY
Individual fund transfers were as follows:
Fund Transfers In Transfers Out
General $ 62,000 $ 2,378,289
Capital Projects 2,878,289 2,500,818
Debt Service 2,991,618 -
Nonmajor Governmental 7,300 562,000
Water and Sewer - 498,100
TOTAL $ 5,939,207 $ 5,939,207
The purposes of significant transfers are as follows:
• $2,378,289 transferred from the General Fund to the Capital Projects Fund to finance
future capital projects in accordance with the Village’s fund balance policy.
• $2,991,618 transferred from the Capital Projects Fund and the Water and Sewer
Fund to the Debt Service Fund to provide funds for a portion of various debt service
payments.
• $500,000 transferred from the TIF Fund to the Capital Projects Fund for
reimbursement of the Downtown Streetscape Project.
8. CONTINGENT LIABILITIES
a. Litigation
The Village is a defendant in various lawsuits. Although the outcome of these
lawsuits is not presently determinable, in the opinion of the Village’s attorneys, the
resolution of these matters will not have a material adverse effect on the financial
condition of the Village.
b. Grants
Amounts received or receivable from grantor agencies are subject to audit and
adjustment by grantor agencies, principally the federal government. Any disallowed
claims, including amounts already collected, may constitute a liability of the
applicable funds. The amount, if any, of expenditures which may be disallowed by
the grantor cannot be determined at this time although the Village expects such
amounts, if any, to be immaterial.
- 37 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 38 -
9. COMMITMENTS
The Village is a member of the Southwest Agency for Health Management (SWAHM), an
agency comprised of nine communities formed to be a single member in an
Intergovernmental Personnel Benefits Cooperative (IPBC) which administers the personnel
benefits according to its members. Premiums are paid monthly to another member of
SWAHM which is responsible for collecting all monies and remitting them to IPBC.
The Village is a member of the Western Will County Communications Center
(WESCOM), an agency comprised of five communities and eight fire protection districts
formed to jointly establish, maintain, and operate a centralized public safety
communication system. The expenses of WESCOM are funded by monthly charges to the
participating agencies.
10. DEVELOPMENT ASSISTANCE
The Village has entered into various agreements with private organizations to encourage
economic development in the Village. These agreements provide for rebating a portion of
sales taxes to the private organizations if certain benchmarks of development are achieved.
During the fiscal year ended April 30, 2016, approximately $298,678 in sales tax rebates
were incurred under these agreements. Future contingent rebates of approximately
$1,504,571 in sales taxes may be rebated if certain criteria are met in future years.
11. DEFINED BENEFIT PENSION PLANS
The Village contributes to two defined benefit pension plans: the Illinois Municipal
Retirement Fund (IMRF), an agent multiple-employer public employee retirement system
and the Police Pension Plan which is a single-employer pension plan. The benefits, benefit
levels, employee contributions, and employer contributions for both plans are governed by
Illinois Compiled Statutes (ILCS) and can only be amended by the Illinois General
Assembly. Neither of the pension plans issue separate reports on the pension plans.
However, IMRF does issue a publicly available report that includes financial statements
and supplementary information for the plan as a whole, but not for individual employers.
That report can be obtained at www.imrf.org or by writing to Illinois Municipal Retirement
Fund, 2211 York Road, Suite 500, Oak Brook, Illinois 60523.
a. Plan Descriptions
Illinois Municipal Retirement Fund
Plan Administration
All employees (other than those covered by the Police Pension Plan) hired in
positions that meet or exceed the prescribed annual hourly standard must be enrolled
in IMRF as participating members.
- 38 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 39 -
11. DEFINED BENEFIT PENSION PLANS (Continued)
a. Plan Descriptions (Continued)
Illinois Municipal Retirement Fund (Continued)
Plan Administration (Continued)
The plan is accounted for on the economic resources measurement focus and the
accrual basis of accounting. Employer and employee contributions are recognized
when earned in the year that the contributions are required, benefits and refunds are
recognized as an expense and liability when due and payable.
Plan Membership
At December 31, 2015, membership consisted of:
Inactive employees or their beneficiaries
currently receiving benefits 50
Inactive employees entitled to but not yet receiving benefits 69
Active employees 89
TOTAL 208
Benefits Provided
All employees (other than those covered by the Police Pension Plan) hired in
positions that meet or exceed the prescribed annual hourly standard must be enrolled
in IMRF as participating members. IMRF provides two tiers of pension benefits.
Employees hired prior to January 1, 2011, are eligible for Tier 1 benefits. For Tier 1
employees, pension benefits vest after eight years of service. Participating members
who retire at age 55 (reduced benefits) or after age 60 (full benefits) with eight years
of credited service are entitled to an annual retirement benefit, payable monthly for
life, in an amount equal to 1 2/3% of their final rate of earnings, for each year of
credited service up to 15 years, and 2% for each year thereafter.
Employees hired on or after January 1, 2011, are eligible for Tier 2 benefits. For
Tier 2 employees, pension benefits vest after ten years of service. Participating
members who retire at age 62 (reduced benefits) or after age 67 (full benefits) with
ten years of credited service are entitled to an annual retirement benefit, payable
monthly for life, in an amount equal to 1 2/3% of their final rate of earnings, for each
year of credited service up to 15 years, and 2% for each year thereafter.
IMRF also provides death and disability benefits. These benefit provisions are
established by state statute.
- 39 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 40 -
11. DEFINED BENEFIT PENSION PLANS (Continued)
a. Plan Descriptions (Continued)
Illinois Municipal Retirement Fund (Continued)
Contributions
Participating members are required to contribute 4.50% of their annual salary to
IMRF. The Village is required to contribute the remaining amounts necessary to fund
IMRF as specified by statute. The employer contribution for the year ended
December 31, 2015 was 11.35% of covered payroll.
Actuarial Assumptions
The Village’s net pension liability was measured as of December 31, 2015 and the
total pension liability used to calculate the net pension liability was determined by an
actuarial valuation performed as of the same date using the following actuarial
methods and assumptions.
Actuarial valuation date December 31, 2015
Actuarial cost method Entry-age normal
Assumptions
Price inflation 2.75%
Salary increases 3.75% to 14.50%
Investment rate of return 7.50%
Cost of living adjustments 3.00%
Asset valuation method Market value of assets
For nondisabled retirees, an IMRF specific mortality table was used with fully
generational projection scale MP-2014 (base year 2014). The IMRF specific rates
were developed from the RP-2014 Blue Collar Health Annuitant Mortality Table
with adjustments to match current IMRF experience. For disabled retirees, an
IMRF-specific mortality table was used with fully generational projection scale
MP-2014 (base year 2014). The IMRF specific rates were developed from the
RP-2014 Disabled Retirees Mortality Table applying the same adjustments that were
applied for nondisabled lives. For active members, an IMRF specific mortality table
was used with fully generational projection scale MP-2014 (base year 2014). The
IMRF specific rates were developed from the RP-2014 Employee Mortality Table
with adjustments to match current IMRF experience.
- 40 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 41 -
11. DEFINED BENEFIT PENSION PLANS (Continued)
a. Plan Descriptions (Continued)
Illinois Municipal Retirement Fund (Continued)
Discount Rate
The discount rate used to measure the total pension liability was 7.48%. The
projection of cash flows used to determine the discount rate assumed that member
contributions will be made at the current contribution rate and that the Village
contributions will be made at rates equal to the difference between actuarially
determined contribution rates and the member rate. Based on those assumptions, the
IMRF’s fiduciary net position was not projected to be available to make all projected
future benefit payments of current plan members and therefore was blended with the
index rate of 3.57% for tax exempt general obligation municipal bonds rated AA or
better at December 31, 2015 to arrive at a discount rate of 7.48% used to determine
the total pension liability.
Changes in the Net Pension Liability
(a)
Total Pension
(b)
Plan Fiduciary
(a) - (b)
Net Pension
Liability Net Position Liability
BALANCES AT JANUARY 1, 2015 $ 19,146,890 $ 16,952,168 $ 2,194,722
Changes for the period
Service cost 655,050 - 655,050
Interest 1,440,465 - 1,440,465
Difference between expected
and actual experience (198,500) - (198,500)
Employer contributions - 637,826 (637,826)
Assumption changes 30,956 - 30,956
Employee contributions - 253,640 (253,640)
Net investment income - 85,777 (85,777)
Benefit payments and refunds (485,137) (485,137) -
Other (net transfer) - (466,427) 466,427
Net changes 1,442,834 25,679 1,417,155
BALANCES AT DECEMBER 31, 2015 $ 20,589,724 $ 16,977,847 $ 3,611,877
There was a change in assumption related to the discount rate made since the prior
measurement date. The discount rate used in the current actuarial valuation, dated
December 31, 2015, is 7.48%. The discount rate used in the prior actuarial valuation,
dated December 31, 2014, was 7.49%.
- 41 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 42 -
11. DEFINED BENEFIT PENSION PLANS (Continued)
a. Plan Descriptions (Continued)
Illinois Municipal Retirement Fund (Continued)
Pension Expense and Deferred Outflows of Resources and Deferred Inflows of
Resources
For the year ended April 30, 2016, the Village recognized pension expense of
$1,235,771.
At April 30, 2016, the Village reported deferred outflows of resources and deferred
inflows of resources related to IMRF from the following sources:
Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
Differences between expected and actual experience $ - $ 158,158
Assumption changes 24,665 -
Net difference between projected and
actual earnings on pension plan investments
946,706
-
Employer contributions after the measurement date 223,326 -
TOTAL $ 1,194,697 $ 158,158
Amounts reported as deferred outflows of resources and deferred inflows of
resources related to IMRF will be recognized in pension expense as follows:
Year Ending
April 30,
2017 $ 425,951
2018 202,625
2019 202,625
2020 205,338
TOTAL $ 1,036,539
- 42 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 43 -
11. DEFINED BENEFIT PENSION PLANS (Continued)
a. Plan Descriptions (Continued)
Illinois Municipal Retirement Fund (Continued)
Discount Rate Sensitivity
The following is a sensitivity analysis of the net pension liability to changes in the
discount rate. The table below presents the net pension liability of the Village
calculated using the discount rate of 7.48% as well as what the Village’s net pension
liability would be if it were calculated using a discount rate that is 1 percentage point
lower (6.48%) or 1 percentage point higher (8.48%) than the current rate:
1% Decrease
Current
Discount Rate
1% Increase
(6.48%) (7.48%) (8.48%)
Net pension liability $ 7,025,434 $ 3,611,877 $ 914,645
Police Pension Plan
Plan Administration
Police sworn personnel are covered by the Police Pension Plan (the Plan). Although
this is a single-employer pension plan, the defined benefits and employee and
employer contribution levels are governed by Illinois Compiled Statutes (40 ILCS
5/3-1) and may be amended only by the Illinois legislature. The Village accounts for
the plan as a pension trust fund.
The Plan is governed by a five-member Board of Trustees. Two members of the
Board of Trustees are appointed by the Village President, one member is elected by
pension beneficiaries and two members are elected by active police employees.
The Plan is accounted for on the economic resources measurement focus and the
accrual basis of accounting. Employer and employee contributions are recognized
when earned in the year that the contributions are required and benefits and refunds
are recognized as an expense and liability when due and payable.
Administrative costs are financed through contributions and investment income.
- 43 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 44 -
11. DEFINED BENEFIT PENSION PLANS (Continued)
a. Plan Descriptions (Continued)
Police Pension Plan (Continued)
Plan Membership
At April 30, 2016, the measurement date, membership consisted of:
Inactive plan members or beneficiaries
currently receiving benefits 8
Inactive plan members entitled to but not
yet receiving benefits 2
Active plan members 53
TOTAL 63
Benefits Provided
The Plan provides retirement benefits as well as death and disability benefits. Tier 1
employees (those hired prior to January 1, 2011) attaining the age of 50 or older with
20 or more years of creditable service are entitled to receive an annual retirement
benefit equal to 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 annual benefit
shall be increased by 2.5% of such salary for each additional year of service over 20
years up to 30 years to a maximum of 75% of such salary. Employees with at least
eight years but less than 20 years of creditable service may retire at or after age 60
and receive a reduced benefit. The monthly benefit 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% compounded annually
thereafter.
Tier 2 employees (those hired on or after January 1, 2011) attaining the age of 55 or
older with ten or more years of creditable service are entitled to receive an annual
retirement benefit equal to the average monthly salary obtained by dividing the total
salary of the police officer during the 96 consecutive months of service within the
last 120 months of service in which the total salary was the highest by the number of
months of service in that period. Police officers’ salary for pension purposes is
capped at $106,800, plus the lesser of ½ of the annual change in the Consumer Price
Index or 3% compounded. The annual benefit shall be increased by 2.5% of such
- 44 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 45 -
11. DEFINED BENEFIT PENSION PLANS (Continued)
a. Plan Descriptions (Continued)
Police Pension Plan (Continued)
Benefits Provided (Continued)
salary for each additional year of service over 20 years up to 30 years to a maximum
of 75% of such salary. Employees with at least ten years may retire at or after age 50
and receive a reduced benefit (i.e., ½% for each month under 55). The monthly
benefit of a Tier 2 police officer shall be increased annually at age 60 on the
January 1st after the police officer retires, or the first anniversary of the pension
starting date, whichever is later. Noncompunding increases occur annually, each
January thereafter. The increase is the lesser of 3% or ½ of the change in the
Consumer Price Index for the preceding calendar year.
Contributions
Employees are required by ILCS to contribute 9.91% of their base salary to the Plan.
If an employee leaves covered employment with less than 20 years of service,
accumulated employee contributions may be refunded without accumulated interest.
The Village is required to contribute the remaining amounts necessary to finance the
plan and the administrative costs as actuarially determined by an enrolled actuary.
Effective January 1, 2011, the Village has until the year 2040 to fund 90% of the past
service cost for the Plan. However, the Village has elected to fund 100% of the past
service cost on a closed basis by the year 2040. For the year ended April 30, 2016,
the Village’s contribution was 18.6% of covered payroll.
Investment Policy
ILCS limits the Plan’s investments to those allowable by ILCS and require the Plan’s
Board of Trustees to adopt an investment policy which can be amended by a majority
vote of the Board of Trustees. The Plan’s investment policy authorizes it to make
deposits/invest in insured commercial banks, savings and loan institutions,
obligations of the U.S. Treasury and U.S. agencies, insured credit union shares,
money market mutual funds with portfolios of securities issued or guaranteed by the
United States Government or agreements to repurchase these same obligations,
repurchase agreements, short-term commercial paper rated within the three highest
classifications by at least two standard rating services, and Illinois Funds (a money
market fund created by the State of Illinois under the State Treasurer that maintains a
$1 per share value). The Plan may also invest in certain non-U.S. obligations, Illinois
municipal corporations tax anticipation warrants, veteran’s loans, obligations of the
State of Illinois and its political subdivisions, and Illinois insurance company general
and separate accounts, mutual funds, and equities.
- 45 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 46 -
11. DEFINED BENEFIT PENSION PLANS (Continued)
a. Plan Descriptions (Continued)
Police Pension Plan (Continued)
Investment Policy (Continued)
Illinois Funds is an investment pool managed by the State of Illinois, Office of the
Treasurer, which allows governments within the State to pool their funds for
investment purposes. Illinois Funds is not registered with the SEC as an investment
company, but does operate in a manner consistent with Rule 2a7 of the Investment
Company Act of 1940. Investments in Illinois Funds are valued at Illinois Funds’
share price, the price for which the investment could be sold. The Plan’s investment
policy specifically prohibits investments in commodities, direct investments in real
estate, margin or leveraged investments, short sales, and direct foreign currency
speculation or any related investment activity.
During the year, there were no changes to the investment policy.
The Plan’s investment policy in accordance with ILCS establishes the following
target allocation across asset classes:
Asset Class
Target
Long-Term
Expected Real
Rate of Return
Cash equivalents 0% 0.0%
Large cap domestic equity 30% 6.4%
Small cap domestic equity 10% 8.4%
International equity 15% 6.7%
Fixed income 45% 1.2%
ILCS limits the Plan’s investments in equities, mutual funds and variable annuities to
65%. Securities in any one company should not exceed 5% of the total fund.
The long-term expected real rates of return are net of inflation and investment
expense. Long-term returns for the asset classes are calculated on a geometric mean
basis. Asset class returns and risk premium data are from Stocks, Bonds, Bills and
Inflation 2013 Yearbook - Morningstar for the period of December 31, 1925 through
December 31, 2015. International Equity = the MSCI EAFE Index from
December 31, 1977 through December 31, 2015.
- 46 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 47 -
11. DEFINED BENEFIT PENSION PLANS (Continued)
a. Plan Descriptions (Continued)
Police Pension Plan (Continued)
Investment Valuations
All investments in the plan are stated at fair value and are recorded as of the trade
date. Fair value is based on quoted market prices at April 30 for debt securities,
equity securities, and mutual funds, and contract values for insurance contracts.
Illinois Funds, an investment pool created by the State legislature under the control
of the State Treasurer, is a money market mutual fund that maintains a $1 per share
value.
Investment Rate of Return
For the year ended April 30, 2016, the annual money-weighted rate of return on
pension plan investments, net of pension plan investment expense, was (0.29%). The
money-weighted rate of return expresses investment performance, net of investment
expense, adjusted for the changing amounts actually invested.
Deposits with Financial Institutions
Custodial credit risk for deposits with financial institutions is the risk that in the
event of bank failure, the Plan’s deposits may not be returned to it. The Plan’s
investment policy does not require pledging of collateral for all bank balances in
excess of federal depository insurance, since flow-through FDIC insurance is
available for the Plan’s deposits with financial institutions.
Investments
The following table presents the investments and maturities of the Plan’s debt
securities as of April 30, 2016:
Investment Maturities (in Years)
Investment Type Fair Value Less than 1 1-5 6-10 Greater than 10
U.S. Treasury obligations $ 2,703,319 $ 301,125 $ 1,728,381 $ 673,813 $ -
U.S. agency obligations 6,670,158 609,518 2,868,684 2,978,203 213,753
Municipal bonds 1,478,600 - 874,996 492,853 110,751
TOTAL $ 10,852,077 $ 910,643 $ 5,472,061 $ 4,144,869 $ 324,504
- 47 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 48 -
11. DEFINED BENEFIT PENSION PLANS (Continued)
a. Plan Descriptions (Continued)
Police Pension Plan (Continued)
Interest Rate Risk
Interest rate risk is the risk that changes in interest rates will adversely affect the fair
value of an investment. In accordance with its investment policy, the Plan limits its
exposure to interest rate risk through the proper diversifications of maturities and
sectors while maintaining cash flow adequate to meet anticipated disbursements for
at least six months by utilizing short-term money market investments. There are no
constraints on any of the fixed income portfolio’s average maturity. The average
duration of any fixed income portfolio shall not exceed 12 years at any given time
unless deemed otherwise by the Board of Trustees.
Credit Risk
Credit risk is the risk that the issuer of a debt security will not pay its par value upon
maturity. The Plan limits its exposure to credit risk by primarily investing in U.S.
Treasury or U.S. agency obligations. The U.S. agency obligations and money market
mutual funds are rated AA+ to AAA. The Municipal Bonds have ratings from AA3
to AAA.
Custodial Credit Risk
Custodial credit risk for investments is the risk that, in the event of the failure of the
counterparty to the investment, the Plan will not be able to recover the value of its
investments that are in possession of an outside party. To limit its exposure, the
Plan’s investment policy requires all security transactions that are exposed to
custodial credit risk to be processed on a delivery versus payment (DVP) basis with
the underlying investments held by a third party custodian. The money market mutual
funds and equity mutual funds are not subject to custodial credit risk.
- 48 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 49 -
11. DEFINED BENEFIT PENSION PLANS (Continued)
a. Plan Descriptions (Continued)
Police Pension Plan (Continued)
Concentration of Credit Risk
Concentration of credit risk is the risk that the Plan has a high percentage of its
investments invested in one type of investment. The Plan’s investment policy limits
the amount of the debt portfolio that can be invested in any one debt security as
follows:
Diversification by Instrument Minimum Target Maximum
Cash equivalents 0% 0% 30%
Government bonds 40% 45% 70%
U.S. stocks 35% 40% 45%
Non-U.S. stocks 0% 15% 20%
At April 30, 2016, Federal Home Loan Bank and Federal Farm Credit Bank
obligations exceeded 5.00% of the Plan’s total investments. Such investments
comprised approximately 14.89% and 7.01%, respectively, of the Plan’s investments.
Discount Rate
The discount rate used to measure the total pension liability was 7.5%. The
projection of cash flows used to determine the discount rate assumed that plan
member contributions will be made at the current contribution rate and that Village
contributions will be made at rates equal to the difference between actuarially
determined contribution rates and the member rate. Based on those assumptions, the
Plan’s fiduciary net position was projected to be available to make all projected
future benefit payments of current members. Therefore, the long-term expected rate
of return on pension plan investments of 7.5% was applied to all periods of projected
benefit payments to determine the total pension liability.
- 49 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 50 -
11. DEFINED BENEFIT PENSION PLANS (Continued)
a. Plan Descriptions (Continued)
Police Pension Plan (Continued)
Changes in Net Pension Liability
(a)
Total
Pension
(b)
Plan
Fiduciary
(a) - (b)
Net
Pension
Liability Net Position Liability
BALANCES AT MAY 1, 2015 $ 31,882,199 $ 23,825,750 $ 8,056,449
Changes for the period
Service cost 1,194,830 - 1,194,830
Interest 2,374,855 - 2,374,855
Difference between expected
and actual experience (220,856) - (220,856)
Employer contributions - 948,549 (948,549)
Assumption changes 1,674,600 - 1,674,600
Employee contributions - 490,958 (490,958)
Net investment income - (72,645) 72,645
Benefit payments and refunds (434,932) (434,932) -
Other (net transfer) - (32,827) 32,827
Net changes 4,588,497 899,103 3,689,394
BALANCES AT APRIL 30, 2016 $ 36,470,696 $ 24,724,853 $ 11,745,843
There was a change with respect to actuarial assumptions from the prior year to
reflect revised expectations with respect to mortality rates. The mortality rates have
been changed to the RP-2014 Mortality Table (BCHA) projected to 2016 using
improvement scale MP-2015.
- 50 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 51 -
11. DEFINED BENEFIT PENSION PLANS (Continued)
a. Plan Descriptions (Continued)
Police Pension Plan (Continued)
Actuarial Assumptions
The total pension liability above was determined by an actuarial valuation performed
as of April 30, 2016 using the following actuarial methods and assumptions:
Actuarial valuation date April 30, 2016
Actuarial cost method Entry-age normal
Assumptions
Inflation 2.50%
Salary increases 5.50%
Investment rate of return 7.50%
Cost of living adjustments 3.00%
Asset valuation method Market value
Mortality rates were based on the RP-2014 Mortality Table (BCHA) projected to
2016 using improvement scale MP-2015. The other non-economic actuarial
assumptions used in the April 30, 2016 valuation were based on the results of an
actuarial experience study conducted by the Illinois Department of Insurance dated
September 26, 2012.
Discount Rate Sensitivity
The following is a sensitivity analysis of the net pension liability to changes in the
discount rate. The table below presents the net pension liability of the Village
calculated using the discount rate of 7.5% as well as what the Village’s net pension
liability would be if it were calculated using a discount rate that is 1 percentage point
lower (6.5%) or 1 percentage point higher (8.5%) than the current rate:
1% Decrease
Current
Discount Rate
1% Increase
(6.5%) (7.5%) (8.5%)
Net pension liability $ 18,390,741 $ 11,745,843 $ 6,432,917
- 51 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 52 -
11. DEFINED BENEFIT PENSION PLANS (Continued)
a. Plan Descriptions (Continued)
Police Pension Plan (Continued)
Pension Expense and Deferred Outflows of Resources and Deferred Inflows of
Resources
For the year ended April 30, 2016, the Village recognized police pension expense of
$1,288,182.
At April 30, 2016, the Village reported deferred outflows of resources and deferred
inflows of resources related to the police pension from the following sources:
Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
Differences between expected and actual experience $ - $ 220,856
Changes in assumptions 1,674,600 -
Net difference between projected and
actual earnings on pension plan investments
1,896,017
-
TOTAL $ 3,570,617 $ 220,856
Amounts reported as deferred outflows of resources and deferred inflows of
resources related to the police pension will be recognized in pension expense as
follows:
Year Ending
April 30,
2017 $ 638,800
2018 638,800
2019 638,800
2020 638,800
2021 638,802
Thereafter 155,759
TOTAL $ 3,349,761
- 52 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 53 -
12. OTHER POSTEMPLOYMENT BENEFITS
a. Plan Description
In addition to providing the pension benefits described, the Village provides
postemployment health care (OPEB) benefits for retirees and disabled employees
through a single-employer defined benefit plan (the Plan). The benefits, benefit
levels, employee contributions and any employer contributions are governed by the
Village and can be amended by the Village through its personnel manual and union
contracts. The Plan is not accounted for as a trust fund, as an irrevocable trust has not
been established to account for the Plan. The Plan does not issue a separate report.
The activity of the Plan is reported in the Village’s General Fund.
b. Benefits Provided
The Village provides postemployment health care benefits to its retirees and certain
disabled employees. To be eligible for benefits, an employee must qualify for
retirement under one of the Village’s retirement plans or meet COBRA requirements.
For certain disabled employees who qualify for health insurance benefits under the
Public Safety Employee Benefits Act (PSEBA), the Village is required to pay 100%
of the cost of basic health insurance for the employee and their dependents for their
lifetime. As of April 30, 2016, the Village had one disabled retiree receiving benefits
under this statute.
All health care benefits are provided through the Village’s insured health plan. The
benefit levels are the same as those afforded to active employees. Benefits include
general inpatient and outpatient medical services; mental, nervous and substance
abuse care; vision care; dental care; and prescriptions. Eligibility in Village
sponsored health care plans is discontinued upon eligibility for federally sponsored
health care benefits.
c. Membership
At April 30, 2015 (census date), membership consisted of:
Actives fully eligible to retire 13
Actives not yet fully eligible to retire 110
Retirees 2
TOTAL 125
Participating employers 1
- 53 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 54 -
12. OTHER POSTEMPLOYMENT BENEFITS (Continued)
d. Funding Policy
All retirees contribute 100% of the premium to the Plan to cover the cost of
providing the benefits to the retirees via the health insurance plan (pay as you go),
which results in an implicit subsidy to the Village as defined by GASB Statement
No. 45. The Village pays 100% of the premium for certain disabled employees. For
the year ended April 30, 2016, retirees contributed $6,894 and the Village
contributed $20,982. The Village is not required to and currently does not advance
fund the cost of benefits that will become due and payable in the future. Active
employees do not contribute to the Plan until retirement.
e. Annual OPEB Costs and Net OPEB Obligation
The Village’s annual OPEB cost, the percentage of annual OPEB cost contributed to
the Plan and the net OPEB obligation was as follows:
Fiscal
Year
Ended
Annual
OPEB
Cost
Employer
Contributions
Percentage of
Annual OPEB
Cost Contributed
Net OPEB
Obligation
2016 $ 80,836 $ 20,982 25.96% $ 209,613
2015 80,331 25,920 32.27% 149,759
2014 64,906 32,784 50.51% 95,348
The net OPEB obligation (NOPEBO) as of April 30, 2016 was calculated as follows:
Annual required contribution $ 79,444
Interest on net OPEB obligation 6,739
Adjustment to annual required contribution (5,347)
Annual OPEB cost 80,836
Contributions made (20,982)
Increase in net OPEB obligation 59,854
Net OPEB obligation, beginning of year 149,759
NET OPEB OBLIGATION, END OF YEAR $ 209,613
- 54 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 55 -
12. OTHER POSTEMPLOYMENT BENEFITS (Continued)
f. Funded Status and Funding Progress
The funded status of the Plan as of April 30, 2014 (latest information available) was
as follows:
Actuarial accrued liability (AAL) $ 1,324,394
Actuarial value of plan assets -
Unfunded actuarial accrued liability (UAAL) 1,324,394
Funded ratio (actuarial value of plan assets/AAL) 0.00%
Covered payroll (active plan members) $ 9,521,845
UAAL as a percentage of covered payroll 13.91%
Actuarial valuations of an ongoing plan involve estimates of the value of reported
amounts and assumptions about the probability of occurrence of events far into the
future. Examples include assumptions about future employment, mortality and the
healthcare cost trend. Amounts determined regarding the funded status of the Plan
and the annual required contributions of the employer are subject to continual
revision as actual results are compared with past expectations and new estimates are
made about the future. The schedule of funding progress, presented as required
supplementary information following the notes to financial statements, presents
multi-year trend information that shows whether the actuarial value of plan assets is
increasing or decreasing over time relative to the actuarial accrued liabilities for
benefits.
g. Actuarial Methods and Assumptions
Projections of benefits for financial reporting purposes are based on the substantive
plan (the Plan as understood by the employer and plan members) and include the
types of benefits provided at the time of each valuation and the historical pattern of
sharing of benefit costs between the employer and plan members to that point. The
actuarial methods and assumptions used include techniques that are designed to
reduce short-term volatility in actuarial accrued liabilities and the actuarial value of
assets, consistent with the long-term perspective of the calculations.
In the April 30, 2014 actuarial valuation, the entry-age actuarial cost method was
used. The actuarial assumptions included a 4.5% investment rate of return (net of
administrative expenses) and an initial and ultimate annual healthcare cost trend rate
of 4.5%. These rates include a 3.0% inflation assumption. The actuarial value of
assets was not determined as the Village has not advance funded its obligation. The
Plan’s unfunded actuarial accrued liability is being amortized as a level percentage of
projected payroll on an open basis over 30 years.
- 55 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 56 -
13. CHANGE IN ACCOUNTING PRINCIPLE
With the implementation of GASB Statements No. 68 and 71, the Village is required to
retroactively record the IMRF and Police Pension Plan net pension liabilities and any
related deferred outflows of resources and write-off the Police Pension Plan net pension
asset.
The Village recorded the following change in accounting principle during year ended
April 30, 2016:
Increase
(Decrease)
CHANGE IN ACCOUNTING PRINCIPLE -
GOVERNMENTAL ACTIVITIES
Change in accounting principle
To write-off the Police Pension Plan net pension asset $ (1,725,245)
To record the Police Pension Plan net pension liability (8,056,449)
To record IMRF net pension liability - related deferred
outflows of resources
184,883
To record the IMRF net pension liability (1,821,619)
TOTAL CHANGE IN ACCOUNTING PRINCIPLE -
GOVERNMENTAL ACTIVITIES
$ (11,418,430)
CHANGE IN ACCOUNTING PRINCIPLE -
BUSINESS-TYPE ACTIVITIES
To record the IMRF net pension liability- related deferred
outflows of resources
$ 37,868
To record IMRF net pension liability (373,103)
TOTAL CHANGE IN ACCOUNTING PRINCIPLE -
BUSINESS-TYPE ACTIVITIES
$ (335,235)
- 56 -
REQUIRED SUPPLEMENTARY INFORMATION
VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF REVENUES, EXPENDITURES,
AND, CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
GENERAL FUND
For the Year Ended April 30, 2016
Original Final
Budget Budget Actual
REVENUES
Taxes 6,317,000$ 6,317,000$ 6,117,726$
Licenses and permits 886,700 886,700 1,177,055
Intergovernmental 9,021,292 9,021,292 10,457,664
Charges for services 4,952,887 4,952,887 5,089,159
Fines and forfeits 694,287 694,287 638,090
Investment income 15,000 15,000 41,975
Miscellaneous 139,000 139,000 330,327
Total revenues 22,026,166 22,026,166 23,851,996
EXPENDITURES
Current
General government 3,850,614 3,850,614 3,521,721
Public safety 11,692,957 11,692,957 10,973,706
Highways and streets 6,744,595 6,744,595 6,719,447
Total expenditures 22,288,166 22,288,166 21,214,874
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES (262,000) (262,000) 2,637,122
OTHER FINANCING SOURCES (USES)
Transfers in 262,000 262,000 62,000
Transfers (out)- - (2,378,289)
Total other financing sources (uses)262,000 262,000 (2,316,289)
NET CHANGE IN FUND BALANCE -$ -$ 320,833
FUND BALANCE, MAY 1 10,286,247
FUND BALANCE, APRIL 30 10,607,080$
(See independent auditor's report.)
- 57 -
OTHER POSTEMPLOYMENT BENEFIT PLAN
(2)UAAL
Actuarial (4)as a
Actuarial (1)Accrued (3)Unfunded Percentage
Valuation Actuarial Liability Funded AAL (5)of Covered
Date Value of (AAL)Ratio (UAAL)Covered Payroll
April 30,Assets Entry-Age (1)/(2) (2) - (1)Payroll (4)/(5)
2012 -$ 1,192,919$ 0.00%1,192,919$ 8,222,184$ 14.51%
2013 N/A N/A N/A N/A N/A N/A
2014 - 1,324,394 0.00%1,324,394 9,521,845 13.91%
2015 N/A N/A N/A N/A N/A N/A
2016 N/A N/A N/A N/A N/A N/A
N/A - Actuarial valuation not performed
The Village implemented GASB Statement No. 45 for the fiscal year ending April 30, 2012.
Information for prior years is not available.
VILLAGE OF PLAINFIELD, ILLINOIS
April 30, 2016
SCHEDULE OF FUNDING PROGRESS
(See independent auditor's report.)
- 58 -
2016
Actuarially determined contribution 632,404$
Contributions in relation to the actuarially
determined contribution 632,404
CONTRIBUTION DEFICIENCY (Excess)-$
Covered-employee payroll 5,619,601$
Contributions as a percentage of
covered-employee payroll 11.3%
Notes to Required Supplementary Information
The information presented was determined as part of the actuarial valuation as of December 31,
2013 and 2014.Additional information as of the latest actuarial valuation presented is as
follows:the actuarial cost method was aggregate entry-age normal;the amortization method
was level percentage of payroll,closed;the amortization period was 28-year,closed until the
remaining period reaches 15 years (then a 15-year rolling period);the asset valuation method
was 5-year smoothed market with a 20.0%corridor;and the significant actuarial assumptions
were wage growth at 4.0%;price inflation at 3.0%;salary increases of 4.4%to 16.0%,
including inflation; and an investment rate of return at 7.5% annually.
VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF EMPLOYER CONTRIBUTIONS
ILLINOIS MUNICIPAL RETIREMENT FUND
April 30, 2016
(See independent auditor's report.)
- 59 -
2010 2011 2012 2013 2014 2015 2016
Actuarially determined contribution 682,956$ 845,701$ 806,757$ 808,308$ 808,112$ 935,192$ 902,596$
Contributions in relation to the actuarially
determined contribution 998,365 704,076 897,431 888,578 886,519 898,172 948,549
CONTRIBUTION DEFICIENCY (Excess)(315,409)$ 141,625$ (90,674)$ (80,270)$ (78,407)$ 37,020$ (45,953)$
Covered-employee payroll 4,005,605$ 4,173,528$ 4,375,606$ 4,563,700$ 4,732,754$ 4,814,515$ 5,093,977$
Contributions as a percentage of
covered-employee payroll 24.9%16.9%20.5%19.5%18.7%18.7%18.6%
Notes to Required Supplementary Information
VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF EMPLOYER CONTRIBUTIONS
POLICE PENSION FUND
Last Seven Fiscal Years
The information presented was determined as part of the actuarial valuations as of the beginning of the prior fiscal year.Additional information as of the latest
actuarial valuation presented is as follows:the actuarial cost method was entry-age normal;the amortization method was level percent of pay,closed,and the
amortization period was 25 years;the asset valuation method was at market value;and the significant actuarial assumptions were an investment rate of return at
7.5% annually, projected salary increases assumption of 5.5% compounded annually, and postretirement benefit increases of 3.0% compounded annually.
(See independent auditor's report.)
- 60 -
OTHER POSTEMPLOYMENT BENEFIT PLAN
Annual
Fiscal Employer Required
Year Contributions Contribution Percentage
2012 31,877$ 63,506$ 50.20%
2013 32,784 63,853 51.34%
2014 32,784 63,853 51.34%
2015 25,920 79,444 32.63%
2016 20,982 79,444 26.41%
The Village implemented GASB Statement No. 45 for the fiscal year ending April 30, 2012.
Information for prior years is not available.
VILLAGE OF PLAINFIELD, ILLINOIS
April 30, 2016
SCHEDULE OF EMPLOYER CONTRIBUTIONS
(See independent auditor's report.)
- 61 -
2016*
TOTAL PENSION LIABILITY
Service cost 655,050$
Interest 1,440,465
Differences between expected and actual experience (198,500)
Changes of assumptions 30,956
Benefit payments, including refunds of member contributions (485,137)
Net change in total pension liability 1,442,834
Total pension liability - beginning 19,146,890
TOTAL PENSION LIABILITY - ENDING 20,589,724$
PLAN FIDUCIARY NET POSITION
Contributions - employer 637,826$
Contributions - member 253,640
Net investment income 85,777
Benefit payments, including refunds of member contributions (485,137)
Administrative expense/other (466,427)
Net change in plan fiduciary net position 25,679
Plan fiduciary net position - beginning 16,952,168
PLAN FIDUCIARY NET POSITION - ENDING 16,977,847$
EMPLOYER'S NET PENSION LIABILITY 3,611,877$
Plan fiduciary net position
as a percentage of the total pension liability 82.46%
Covered-employee payroll 5,619,601$
Employer's net pension liability
as a percentage of covered-employee payroll 64.30%
*Information is presented for the year ended December 31, 2015.
Notes to Required Supplementary Information
There was a change in the actuarial assumptions used between the prior year and current year.The discount rate
used in the current year is 7.48% while that used in the prior year was 7.49%.
VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF CHANGES IN THE EMPLOYER'S
NET PENSION LIABILITY AND RELATED RATIOS
ILLINOIS MUNICIPAL RETIREMENT FUND
April 30, 2016
(See independent auditor's report.)
- 62 -
2015 2016
TOTAL PENSION LIABILITY
Service cost 1,098,445$ 1,194,830$
Interest 2,039,130 2,374,855
Changes of benefit terms - -
Differences between expected and actual experience (319,230) (220,856)
Changes of assumptions 2,082,221 1,674,600
Benefit payments, including refunds of member contributions (413,533) (434,932)
Net change in total pension liability 4,487,033 4,588,497
Total pension liability - beginning 27,395,166 31,882,199
TOTAL PENSION LIABILITY - ENDING 31,882,199$ 36,470,696$
PLAN FIDUCIARY NET POSITION
Contributions - employer 898,172$ 948,599$
Contributions - member 522,107 490,958
Net investment income 1,466,441 (72,695)
Benefit payments, including refunds of member contributions (413,533) (434,932)
Administrative expense (33,752) (32,827)
Net change in plan fiduciary net position 2,439,435 899,103
Plan fiduciary net position - beginning 21,386,315 23,825,750
PLAN FIDUCIARY NET POSITION - ENDING 23,825,750$ 24,724,853$
EMPLOYER'S NET PENSION LIABILITY 8,056,449$ 11,745,843$
Plan fiduciary net position
as a percentage of the total pension liability 74.73%67.79%
Covered-employee payroll 4,814,515$ 5,093,977$
Employer's net pension liability
as a percentage of covered-employee payroll 167.30%230.60%
Notes to Required Supplementary Information
There was a change with respect to actuarial assumptions from the prior year to reflect revised expectations
with respect to mortality rates, disability rates, turnover rates, and retirement rates.
VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF CHANGES IN THE EMPLOYER'S
NET PENSION LIABILITY AND RELATED RATIOS
POLICE PENSION FUND
April 30, 2016
(See independent auditor's report.)
- 63 -
2015 2016
Annual money-weighted rate of return,6.64%(0.29%)
net of investment expense
VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF INVESTMENT RETURNS
POLICE PENSION FUND
April 30, 2016
(See independent auditor's report.)
- 64 -
- 47 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO REQUIRED SUPPLEMENTARY INFORMATION
April 30, 2016
1. BUDGETS
Budgets are adopted on a basis consistent with generally accepted accounting principles.
Annual appropriated budgets are adopted (at the fund level) for the General, Special
Revenue, Debt Service, Capital Projects, Enterprise, and Police Pension Trust Funds. The
annual appropriated budget is legally enacted and provides for a legal level of control at
the fund level. All annual appropriations lapse at fiscal year end.
The Village follows these procedures in establishing the budgetary data reflected in the
financial statements.
a. Prior to May 1, the Budget Officer submits to the Village Board of Trustees a
proposed operating budget for the fiscal year commencing the following May 1. The
operating budget includes proposed expenditures and the means of financing them.
b. Public hearings are conducted to obtain taxpayer comment.
c. Prior to May 1, the budget is legally enacted through passage of a budget ordinance.
d. The Budget Officer is authorized to transfer budgeted amounts between departments
within any fund; however, the Village Board of Trustees approves any revisions that
alter the total expenditures of any fund. The budgetary information presented in the
accompanying financial statements is the legally enacted budget ordinance adjusted
for the approved revisions.
2. EXPENDITURES OVER BUDGET OF INDIVIDUAL FUNDS
The following funds had expenditures that exceeded budget:
Fund Budget Expenditures
D.A.R.E. $ 22,000 $ 26,596
Liability Insurance 575,500 591,774
Capital Projects 3,511,000 3,897,730
- 65 -
COMBINING AND INDIVIDUAL FUND FINANCIAL
STATEMENTS AND SCHEDULES
MAJOR GOVERNMENTAL FUNDS
VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF REVENUES - BUDGET AND ACTUAL
GENERAL FUND
For the Year Ended April 30, 2016
Original Final
Budget Budget Actual
TAXES
Property taxes 3,048,000$ 3,048,000$ 3,254,993$
Property tax - police pension 950,000 950,000 948,549
Property taxes - road and bridge 375,000 375,000 385,492
Property taxes - IMRF 575,000 575,000 575,526
Home rule sales tax 500,000 500,000 -
Personal property replacement tax 45,000 45,000 48,180
Amusement tax 4,000 4,000 7,582
Local motor fuel tax 820,000 820,000 897,404
Total taxes 6,317,000 6,317,000 6,117,726
LICENSES AND PERMITS
Licenses
Liquor 85,000 85,000 91,455
Contractors 35,000 35,000 48,000
Cigarette 2,500 2,500 6,500
Scavenger 200 200 100
Business 30,000 30,000 35,125
Total licenses 152,700 152,700 181,180
Permits
Building 725,000 725,000 983,448
Sign 5,000 5,000 4,442
Special movement 3,000 3,000 6,410
Solicitors 1,000 1,000 1,575
Total permits 734,000 734,000 995,875
Total licenses and permits 886,700 886,700 1,177,055
INTERGOVERNMENTAL
Grant revenue 35,600 35,600 40,343
Sales tax 5,088,192 5,088,192 5,280,661
Use tax 725,000 725,000 918,416
Income tax 3,172,500 3,172,500 4,218,244
Total intergovernmental 9,021,292 9,021,292 10,457,664
CHARGES FOR SERVICES
Rental income 45,200 45,200 53,300
Zoning applications 10,000 10,000 23,187
Accident report copies 4,000 4,000 4,490
Maps and ordinances copies 3,000 3,000 2,904
Garbage fees 3,666,500 3,666,500 3,672,262
Engineering services 10,000 10,000 25,782
Special detail reimbursement 35,000 35,000 49,403
Sprint rent 39,087 39,087 39,784
(This schedule is continued on the following page.)
- 66 -
VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF REVENUES - BUDGET AND ACTUAL (Continued)
GENERAL FUND
For the Year Ended April 30, 2016
Original Final
Budget Budget Actual
CHARGES FOR SERVICES (Continued)
Telephone franchise fee 230,000$ 230,000$ 260,502$
Cable franchise fee 425,000 425,000 490,850
Amphitheater rent 500 500 500
School liaison reimbursement 375,000 375,000 411,490
HIDTA/organized crime reimbursement 10,000 10,000 13,379
Kitchen rental - community room 3,000 3,000 5,218
Sex offenders registration - - 520
Parking lot revenues 1,000 1,000 4,550
Impound fees 95,000 95,000 31,038
Child safety seats 100 100 -
Miscellaneous 500 500 -
Total charges for services 4,952,887 4,952,887 5,089,159
FINES AND FORFEITS
Will County Circuit Court fines 300,000 300,000 332,692
Kendall County Circuit Court fines 500 500 1,191
Alcohol fines 100 100 -
Traffic and ordinance fines 200,000 200,000 139,091
Drug forfeiture 177,687 177,687 80,128
False alarm fees 8,000 8,000 11,350
Administrative fines - late fees 8,000 8,000 14,985
Asset seizure-federal (Department of Justice equitable sharing)- - 52,537
Court fines - drug account - - 6,116
Total fines and forfeits 694,287 694,287 638,090
INVESTMENT INCOME 15,000 15,000 41,975
MISCELLANEOUS
Other reimbursements 100,000 100,000 72,703
Other receipts 20,000 20,000 27,913
Other miscellaneous - - 201,503
PEMA donation - - 4,863
Miscellaneous donations 10,000 10,000 17,848
Event sponsorship program 4,000 4,000 4,411
Reimbursement Police Training - - 585
Restitution Program - - 501
Sale of fixed assets 5,000 5,000 -
Total miscellaneous 139,000 139,000 330,327
TOTAL REVENUES 22,026,166$ 22,026,166$ 23,851,996$
(See independent auditor's report.)
- 67 -
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL
GENERAL FUND
For the Year Ended April 30, 2016
Original Final
Budget Budget Actual
GENERAL GOVERNMENT
Legislative 520,950$ 520,950$ 443,931$
Administration 1,004,793 1,004,793 938,964
Community relations 168,788 168,788 148,913
Facility management 156,552 156,552 149,729
Human resources 274,115 274,115 262,060
Information technology 616,807 616,807 582,124
Planning 471,688 471,688 380,402
Building 636,921 636,921 608,748
Subtotal 3,850,614 3,850,614 3,514,871
Insurance allocation - - 6,850
Total general government 3,850,614 3,850,614 3,521,721
PUBLIC SAFETY
Police department
Executive 618,696 618,696 568,256
Police operations 6,442,669 6,442,669 6,172,594
Police administration 1,882,592 1,882,592 1,812,808
Police records 611,231 611,231 607,273
Seizure/forfeiture 177,687 177,687 137,908
Police special activities 35,500 35,500 38,039
Community services 1,243,408 1,243,408 1,092,265
Court services 311,079 311,079 255,161
Nondivisional 47,380 47,380 31,354
Total police department 11,370,242 11,370,242 10,715,658
Police commission 20,521 20,521 7,629
PEMA 302,194 302,194 230,283
Subtotal 11,692,957 11,692,957 10,953,570
Insurance allocation - - 20,136
Total public safety 11,692,957 11,692,957 10,973,706
VILLAGE OF PLAINFIELD, ILLINOIS
(This schedule is continued on the following page.)
- 68 -
VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (Continued)
GENERAL FUND
For the Year Ended April 30, 2016
Original Final
Budget Budget Actual
HIGHWAYS AND STREETS
Waste hauler 3,278,236$ 3,278,236$ 3,342,145$
Administration 440,867 440,867 436,538
Street maintenance 2,585,073 2,585,073 2,506,367
Vehicle maintenance 264,838 264,838 265,040
Forestry 175,581 175,581 165,578
Subtotal 6,744,595 6,744,595 6,715,668
Insurance allocation - - 3,779
Total highways and streets 6,744,595 6,744,595 6,719,447
TOTAL EXPENDITURES 22,288,166$ 22,288,166$ 21,214,874$
(See independent auditor's report.)
- 69 -
VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF DETAILED EXPENDITURES - BUDGET AND ACTUAL
GENERAL FUND
For the Year Ended April 30, 2016
Original Final
Budget Budget Actual
GENERAL GOVERNMENT
Legislative
Salaries - President 20,000$ 20,000$ 20,000$
Salaries - Elected Officials 25,000 25,000 21,700
Salaries - Liquor Commission 1,500 1,500 1,500
Salaries - Village Treasurer 2,500 2,500 2,500
FICA 2,800 2,800 2,616
Medicare 700 700 612
IMRF 300 300 769
Employee insurance 150 150 99
Travel/training 10,000 10,000 5,306
Replacement equipment 4,000 4,000 -
Dues and subscriptions 34,000 34,000 33,896
Public relations 70,000 70,000 56,242
Cable TV 50,000 50,000 13
Economic incentive rebate 300,000 300,000 298,678
Total legislative 520,950 520,950 443,931
Administration
Salaries - full-time 659,263 659,263 666,169
Salaries - part-time 50,000 50,000 41,519
Salaries - overtime 1,500 1,500 372
FICA 44,067 44,067 40,327
Medicare 10,306 10,306 10,239
IMRF 81,738 81,738 74,515
Employee insurance 105,419 105,419 97,626
Deferred compensation contribution 15,000 15,000 22,438
Travel/training 15,000 15,000 11,507
Unemployment insurance 8,000 8,000 3,372
Telephone/internet 5,000 5,000 3,496
Cellular phones/pagers 2,000 2,000 2,113
Dues and subscriptions 5,000 5,000 3,277
Office supplies/postage 30,000 30,000 32,692
Gas, oil, wash, and mileage 9,500 9,500 7,704
Maintenance contract/lease 8,000 8,000 8,491
Recording fees 2,500 2,500 254
Legal notices 2,500 2,500 1,452
Attorney legal fees 60,000 60,000 33,701
Contractual services 70,000 70,000 87,886
Engineer fees 15,000 15,000 -
Office furniture and equipment 5,000 5,000 1,475
Public relations - - 56
Contingencies 50,000 50,000 36,483
Tribute memorial - - 1,800
Subtotal administration 1,254,793 1,254,793 1,188,964
Less water and sewer reimbursement (250,000) (250,000) (250,000)
Total administration 1,004,793 1,004,793 938,964
(This schedule is continued on the following pages.)
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VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF DETAILED EXPENDITURES - BUDGET AND ACTUAL (Continued)
GENERAL FUND
For the Year Ended April 30, 2016
Original Final
Budget Budget Actual
GENERAL GOVERNMENT (Continued)
Community relations
Salaries - full-time 94,425$ 94,425$ 94,786$
FICA 5,854 5,854 5,677
Medicare 1,369 1,369 1,328
IMRF 10,859 10,859 10,915
Employee insurance 18,231 18,231 17,615
Deferred compensation contribution 3,000 3,000 3,516
Travel/training 1,700 1,700 164
Telephone/internet 500 500 328
Software 1,000 1,000 -
Public relations 16,500 16,500 7,565
Office supplies/postage 750 750 42
Dues and subscriptions 750 750 136
Gas, oil, wash, and mileage 100 100 -
Marketing and promotion 2,500 2,500 1,200
Settler's Park 8,500 8,500 5,641
Contractual services 2,750 2,750 -
Total community relations 168,788 168,788 148,913
Facility management
Salaries - full-time 31,804 31,804 32,856
Salaries - overtime 2,000 2,000 2,836
FICA 2,096 2,096 2,122
Medicare 492 492 496
IMRF 3,657 3,657 4,036
Building maintenance supplies 7,000 7,000 5,084
Building maintenance - - 2,191
Contractual services 50,000 50,000 38,552
Employee insurance 9,503 9,503 8,561
Building improvements 50,000 50,000 52,995
Total facility management 156,552 156,552 149,729
Human resources
Salaries - full-time 171,975 171,975 174,347
Salaries - overtime 500 500 -
FICA 10,694 10,694 10,843
Medicare 2,501 2,501 2,536
IMRF 19,835 19,835 20,427
Employee insurance 28,200 28,200 24,373
Deferred compensation contribution 5,500 5,500 6,707
Travel/training 7,500 7,500 2,238
Telephone/internet 800 800 672
Cellular telephone/pager 360 360 360
Office supplies/postage 1,000 1,000 902
Dues and subscriptions 3,200 3,200 944
Gas, oil, wash, and mileage 1,400 1,400 1,163
Software 350 350 -
Public relations 12,000 12,000 11,360
Marketing and promotion 300 300 -
Contractual services 8,000 8,000 5,188
Total human resources 274,115 274,115 262,060
(This schedule is continued on the following pages.)
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VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF DETAILED EXPENDITURES - BUDGET AND ACTUAL (Continued)
GENERAL FUND
For the Year Ended April 30, 2016
Original Final
Budget Budget Actual
GENERAL GOVERNMENT (Continued)
Information technology
Salaries - full-time 243,507$ 243,507$ 221,231$
FICA 15,097 15,097 13,386
Medicare 3,531 3,531 3,131
IMRF 28,003 28,003 25,241
Employee insurance 46,099 46,099 47,260
Deferred compensation contribution 6,000 6,000 3,627
Travel/training 11,750 11,750 8,995
Telephone/internet 500 500 328
Cellular telephone/pagers 3,120 3,120 2,085
Office supplies/postage 1,400 1,400 924
Dues and subscriptions 400 400 554
Gas, oil, wash, and mileage 400 400 50
Uniforms/clothing 150 150 703
Software licensing/renewals 196,650 196,650 191,734
Software 36,450 36,450 39,044
Contractual services 11,750 11,750 12,761
Computers 12,000 12,000 11,070
Total information technology 616,807 616,807 582,124
Planning
Salaries - full-time 262,514 262,514 252,076
Compensation - plan commission 4,000 4,000 2,640
Salaries - overtime 2,500 2,500 1,854
FICA 16,679 16,679 15,884
Medicare 3,901 3,901 3,715
IMRF 30,189 30,189 29,399
Employee insurance 57,905 57,905 49,086
Deferred compensation contribution 8,500 8,500 6,378
Travel/training 5,000 5,000 1,795
Unemployment insurance 1,000 1,000 628
Telephone/internet 3,500 3,500 1,684
Cellular phones/pagers 1,000 1,000 1,082
Office supplies/postage 10,000 10,000 10,614
Dues and subscriptions 3,000 3,000 1,350
Gas, oil, wash and, mileage 500 500 -
Software 500 500 -
Maintenance contract/lease 5,000 5,000 1,460
Vehicle maintenance 1,000 1,000 -
Legal fees 5,000 5,000 254
Special projects/programs 15,000 15,000 -
Contractual services 25,000 25,000 333
Engineer fees 10,000 10,000 170
Total planning 471,688 471,688 380,402
Building
Salaries - full-time 419,412 419,412 350,093
Salaries - part-time 20,000 20,000 51,349
Salaries - overtime 500 500 1,269
FICA 27,275 27,275 24,268
Medicare 6,379 6,379 5,676
(This schedule is continued on the following pages.)
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VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF DETAILED EXPENDITURES - BUDGET AND ACTUAL (Continued)
GENERAL FUND
For the Year Ended April 30, 2016
Original Final
Budget Budget Actual
GENERAL GOVERNMENT (Continued)
Building (Continued)
IMRF 50,590$ 50,590$ 42,565$
Employee insurance 84,565 84,565 75,395
Deferred compensation contribution 7,500 7,500 3,400
Travel/training 4,500 4,500 3,648
Unemployment insurance 1,000 1,000 941
Telephone/internet 1,500 1,500 343
Cellular phones/pagers 4,000 4,000 4,350
Office supplies/postage 6,000 6,000 9,541
Dues and subscriptions 700 700 580
Gas, oil, wash, and mileage 1,000 1,000 83
Uniforms/clothing 500 500 -
Special projects/programs 500 500 -
Contractual services - - 35,247
Ordinance maintenance 1,000 1,000 -
Total building 636,921 636,921 608,748
Subtotal 3,850,614 3,850,614 3,514,871
Insurance allocation - - 6,850
Total general government 3,850,614 3,850,614 3,521,721
PUBLIC SAFETY
Police department
Executive
Salaries - full-time 286,368 286,368 291,464
Salaries - part-time 31,896 31,896 31,268
Salaries - overtime 2,000 2,000 978
FICA 19,856 19,856 18,788
Medicare 4,644 4,644 4,544
IMRF 22,970 22,970 21,602
Employee insurance 68,857 68,857 61,577
Deferred compensation contribution 7,500 7,500 7,601
Travel/training 11,100 11,100 5,023
Education/school 12,000 12,000 2,000
Unemployment insurance 23,000 23,000 17,244
Telephone/internet 1,610 1,610 1,082
Cellular phones/pagers 1,505 1,505 1,117
Office supplies/postage 11,950 11,950 5,103
Replacement supplies 1,700 1,700 1,096
Dues and subscriptions 7,050 7,050 4,280
Gas, oil, wash, and mileage 3,000 3,000 1,127
Uniforms/clothing 1,800 1,800 1,601
Maintenance contract/lease 8,390 8,390 6,104
Custodian 81,000 81,000 78,777
Vehicle equipment maintenance 2,500 2,500 316
Contractual services 8,000 8,000 5,564
Total executive 618,696 618,696 568,256
(This schedule is continued on the following pages.)
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VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF DETAILED EXPENDITURES - BUDGET AND ACTUAL (Continued)
GENERAL FUND
For the Year Ended April 30, 2016
Original Final
Budget Budget Actual
PUBLIC SAFETY (Continued)
Police department (Continued)
Police operations
Salaries - full-time 3,209,002$ 3,209,002$ 3,124,054$
Salaries - overtime 391,500 391,500 376,622
FICA 223,231 223,231 202,401
Medicare 52,207 52,207 48,109
IMRF 6,556 6,556 6,235
Police pension contribution 950,000 950,000 948,549
Employee insurance 612,662 612,662 512,323
Deferred compensation contribution 45,000 45,000 80,676
Travel/training 42,500 42,500 39,388
Telephone/insurance 29,070 29,070 24,055
Cellular phones/pagers 7,055 7,055 5,792
Office supplies/postage 14,000 14,000 11,385
Replacement supplies 14,650 14,650 13,265
Dues and subscriptions 2,900 2,900 1,893
Gas, oil, wash, and mileage 110,000 110,000 60,578
Uniforms/clothing 33,100 33,100 34,252
Traffic programs 22,200 22,200 9,482
Ammunition/weapons 25,600 25,600 26,300
Radio maintenance 1,200 1,200 -
Maintenance contracts/lease 5,236 5,236 6,937
Bike unit 2,000 2,000 1,537
Vehicle maintenance 46,000 46,000 42,543
K-9 Unit 4,000 4,000 5,195
Contractual services - WESCOM 593,000 593,000 591,023
Total police operations 6,442,669 6,442,669 6,172,594
Police administration
Salaries - full-time 1,303,768 1,303,768 1,255,762
Salaries - overtime 128,000 128,000 119,925
FICA 88,770 88,770 84,120
Medicare 20,761 20,761 19,673
Employee insurance 191,833 191,833 196,175
Deferred compensation contribution 25,000 25,000 40,170
Travel/training 11,740 11,740 12,821
Telephone/internet 2,070 2,070 1,366
Cellular phones/pagers 10,050 10,050 8,945
Office supplies/postage 10,800 10,800 5,014
Replacement supplies 5,000 5,000 4,423
Dues and subscriptions 4,070 4,070 3,535
Gas, oil, wash, and mileage 29,000 29,000 19,024
Uniforms/clothing 14,740 14,740 12,752
Crime scene/evidence tech support 4,500 4,500 4,382
Community programs-explorer program - - 1,455
Radio maintenance 1,500 1,500 -
Maintenance contract/lease 7,420 7,420 3,669
Vehicle maintenance 16,500 16,500 11,793
Background check services 2,500 2,500 3,739
Accreditation 4,570 4,570 4,065
Total police administration 1,882,592 1,882,592 1,812,808
(This schedule is continued on the following pages.)
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VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF DETAILED EXPENDITURES - BUDGET AND ACTUAL (Continued)
GENERAL FUND
For the Year Ended April 30, 2016
Original Final
Budget Budget Actual
PUBLIC SAFETY (Continued)
Police department (Continued)
Police records
Salaries - full-time 390,965$ 390,965$ 392,281$
Salaries - overtime 6,000 6,000 3,369
FICA 24,612 24,612 23,683
Medicare 5,756 5,756 5,539
IMRF 34,778 34,778 32,506
Employee insurance 116,555 116,555 115,948
Deferred compensation contribution 5,700 5,700 12,397
Travel/training 2,100 2,100 2,025
Telephone/internet 2,070 2,070 1,366
Office supplies/postage 13,450 13,450 9,486
Dues and subscriptions 425 425 124
Uniforms/clothing 3,100 3,100 2,524
Maintenance contracts/lease 5,720 5,720 6,025
Total police records 611,231 611,231 607,273
Seizure/forfeiture
Seizure/forfeiture expenditures 177,687 177,687 137,908
Police special activities
FICA 2,016 2,016 2,120
Medicare 471 471 500
Mobile field force 500 500 -
Salaries - special activities 32,513 32,513 35,419
Total police special activities 35,500 35,500 38,039
Community services
Salaries - full-time 543,527 543,527 523,444
Salaries - part-time 267,509 267,509 203,675
Salaries - overtime 30,000 30,000 30,884
FICA 52,144 52,144 46,278
Medicare 12,195 12,195 10,823
IMRF 57,046 57,046 46,701
Employee insurance 99,257 99,257 93,888
Deferred compensation contribution 4,000 4,000 6,883
Travel/training 12,440 12,440 9,872
Telephone/internet 2,070 2,070 1,365
Cellular phones/pagers 2,820 2,820 2,710
Office supplies/postage 3,000 3,000 2,842
Replacement supplies 3,200 3,200 1,582
Dues and subscriptions 2,450 2,450 1,477
Gas, oil, wash, and mileage 25,000 25,000 14,963
Uniform/clothing 8,400 8,400 11,607
Radio maintenance 49,000 49,000 33,053
Maintenance contracts/lease 10,000 10,000 49
Vehicle maintenance 14,000 14,000 21,218
D.A.R.E program 5,000 5,000 4,829
Shop with a cop 10,000 10,000 11,022
Chaplaincy program 4,250 4,250 1,753
(This schedule is continued on the following pages.)
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VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF DETAILED EXPENDITURES - BUDGET AND ACTUAL (Continued)
GENERAL FUND
For the Year Ended April 30, 2016
Original Final
Budget Budget Actual
PUBLIC SAFETY (Continued)
Police department (Continued)
Community services (Continued)
Animal control 14,000$ 14,000$ 7,130$
Community programs 7,000 7,000 4,141
Community programs - alcohol/tobacco 5,100 5,100 76
Total community services 1,243,408 1,243,408 1,092,265
Court services
Salaries - full-time 115,847 115,847 116,283
Salaries - part-time 45,126 45,126 43,772
Salaries - overtime 1,000 1,000 -
FICA 10,042 10,042 9,618
Medicare 2,349 2,349 2,249
IMRF 19,437 19,437 18,149
Employee insurance 40,957 40,957 35,705
Deferred compensation contribution 3,000 3,000 4,773
Travel/training 3,000 3,000 1,032
Telephone/internet 1,610 1,610 1,082
Office supplies/postage 11,125 11,125 8,116
Dues and subscriptions 8,650 8,650 8,713
Uniforms/clothing 900 900 651
Maintenance contract/lease 3,036 3,036 1,693
Legal fees 45,000 45,000 3,325
Total court services 311,079 311,079 255,161
Nondivisional
Office furniture and equipment 6,000 6,000 967
Capital equipment 28,680 28,680 21,242
PEMA fundraising - - 2,845
Contingencies 12,700 12,700 6,300
Total nondivisional 47,380 47,380 31,354
Total police department 11,370,242 11,370,242 10,715,658
Police commission
Salaries - part-time 5,500 5,500 2,092
FICA 341 341 133
Medicare 80 80 31
Travel/training 1,000 1,000 -
Office supplies/postage 2,000 2,000 884
Dues and subscriptions 600 600 375
Legal fees 1,000 1,000 -
Police test/hiring 10,000 10,000 4,114
Total police commission 20,521 20,521 7,629
PEMA
Salaries - full-time 117,795 117,795 121,920
FICA 7,303 7,303 7,408
Medicare 1,708 1,708 1,747
(This schedule is continued on the following pages.)
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VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF DETAILED EXPENDITURES - BUDGET AND ACTUAL (Continued)
GENERAL FUND
For the Year Ended April 30, 2016
Original Final
Budget Budget Actual
PUBLIC SAFETY (Continued)
PEMA (Continued)
Employee insurance 20,988$ 20,988$ 17,320$
Deferred compensation contribution 3,500 3,500 3,965
Travel/training 2,000 2,000 600
Telephone/internet 6,800 6,800 4,995
Office supplies 1,300 1,300 620
Cellular phones/pager 5,200 5,200 3,228
Replacement supplies 11,000 11,000 5,224
Dues and subscriptions 2,000 2,000 2,329
Gas, oil, wash, and mileage 12,000 12,000 5,907
Supplies and hardware 2,000 2,000 439
Uniforms/clothing 5,700 5,700 2,105
Emergency operation center 750 750 -
Public relations 25,000 25,000 22,000
Disaster plan/exercises/NIMS 3,000 3,000 784
Radio maintenance 8,000 8,000 -
Vehicle maintenance 15,000 15,000 11,752
Maintenance contract/lease 3,500 3,500 2,004
Bike unit 500 500 -
Siren maintenance 20,000 20,000 9,322
Contractual services 5,250 5,250 -
Cadet program 5,400 5,400 3,644
Search and rescue 6,000 6,000 308
Furniture/equipment 2,000 2,000 -
Supplies and hardware - ESDA 500 500 29
Machinery and equipment 5,000 5,000 1,735
Contingencies 3,000 3,000 898
Total PEMA 302,194 302,194 230,283
Subtotal 11,692,957 11,692,957 10,953,570
Insurance allocation - - 20,136
Total public safety 11,692,957 11,692,957 10,973,706
HIGHWAYS AND STREETS
Waste hauler
Refuse hauler fees 3,278,236 3,278,236 3,342,145
Total waste hauler 3,278,236 3,278,236 3,342,145
Administration
Salaries - full-time 271,069 271,069 266,746
FICA 16,806 16,806 16,113
Medicare 3,931 3,931 3,835
IMRF 32,528 32,528 30,944
Employee insurance 55,133 55,133 48,313
Deferred compensation contribution 6,000 6,000 7,244
Travel/training 10,000 10,000 7,901
Unemployment insurance 4,000 4,000 3,226
Telephone/internet 12,000 12,000 18,338
Cellular phones/pagers 7,000 7,000 7,841
(This schedule is continued on the following pages.)
- 77 -
VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF DETAILED EXPENDITURES - BUDGET AND ACTUAL (Continued)
GENERAL FUND
For the Year Ended April 30, 2016
Original Final
Budget Budget Actual
HIGHWAYS AND STREETS (Continued)
Administration (Continued)
Office supplies/postage 2,500$ 2,500$ 2,280$
Dues and subscriptions 3,000 3,000 2,457
Supplies/hardware 500 500 -
Gas, oil, wash, and mileage 300 300 62
Radio maintenance 100 100 -
Building maintenance 15,000 15,000 20,275
Contractual services - - 625
Legal notices 1,000 1,000 338
Total administration 440,867 440,867 436,538
Street maintenance
Salaries - full-time 714,330 714,330 706,708
Salaries - part-time 75,000 75,000 63,692
Salaries - overtime 80,000 80,000 86,809
FICA 53,898 53,898 51,295
Medicare 12,605 12,605 11,996
IMRF 94,720 94,720 89,457
Employee insurance 189,520 189,520 164,734
Deferred compensation contribution 12,000 12,000 18,735
Electricity/gas 260,000 260,000 318,227
Gas, oil, wash and mileage 85,000 85,000 36,490
Supplies/hardware 15,000 15,000 13,852
Street signs maintenance 15,000 15,000 26,158
Aggregate materials 4,000 4,000 3,960
Uniforms/clothing 4,000 4,000 10,512
Radio maintenance 5,000 5,000 2,884
Vehicle maintenance 25,000 25,000 33,722
Street light maintenance 75,000 75,000 116,110
Street maintenance 130,000 130,000 132,611
Storm sewer improvements 10,000 10,000 10,798
Contractual services 85,000 85,000 81,072
Sidewalk maintenance 5,000 5,000 1,566
Equipment maintenance 85,000 85,000 99,656
Supplies/hardware-salt purchase 250,000 250,000 281,780
Snow removal 300,000 300,000 143,543
Total street maintenance 2,585,073 2,585,073 2,506,367
Vehicle maintenance
Salaries - full-time 174,965 174,965 179,083
Salaries - overtime 8,000 8,000 5,313
FICA 11,344 11,344 10,944
Medicare 2,653 2,653 2,560
IMRF 21,407 21,407 21,067
Employee insurance 43,469 43,469 39,895
Deferred compensation contribution 3,000 3,000 6,178
Total vehicle maintenance 264,838 264,838 265,040
(This schedule is continued on the following page.)
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VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF DETAILED EXPENDITURES - BUDGET AND ACTUAL (Continued)
GENERAL FUND
For the Year Ended April 30, 2016
Original Final
Budget Budget Actual
HIGHWAYS AND STREETS (Continued)
Forestry
Salaries - full-time 73,675$ 73,675$ 64,226$
Salaries - overtime 4,000 4,000 3,748
FICA 4,816 4,816 4,338
Medicare 1,126 1,126 1,014
IMRF 8,841 8,841 8,171
Employee insurance 19,623 19,623 16,920
Deferred compensation contribution 2,000 2,000 1,892
Supplies/hardware 6,000 6,000 8,316
Contractual services 5,000 5,000 5,770
Tree removal 50,000 50,000 50,748
Uniforms/clothing 500 500 435
Total forestry 175,581 175,581 165,578
Subtotal 6,744,595 6,744,595 6,715,668
Insurance allocation - - 3,779
Total highways and streets 6,744,595 6,744,595 6,719,447
TOTAL EXPENDITURES 22,288,166$ 22,288,166$ 21,214,874$
(See independent auditor's report.)
- 79 -
CAPITAL PROJECTS FUND
Original Final
Budget Budget Actual
REVENUES
Home rule sales tax 2,650,000$ 2,650,000$ 3,403,167$
Intergovernmental 3,100,000 3,100,000 3,023,852
Charges for services
Impact fee 3,500 3,500 11,635
Fines and forfeits 310,000 310,000 248,468
Investment income 100 100 5,558
Miscellaneous - - 186,260
Total revenues 6,063,600 6,063,600 6,878,940
EXPENDITURES
Capital outlay
Contractual services 166,000 166,000 106,513
Engineering 75,000 75,000 20,868
Building improvements 175,000 175,000 171,365
Building improvements-police - - 98,488
Sidewalk and curb replacement 425,000 425,000 328,634
Machinery and equipment - police 225,000 225,000 217,571
Machinery and equipment - public works 250,000 250,000 398,309
Bridge repairs and reconstructions 50,000 50,000 20,554
Roadway improvements 1,800,000 1,800,000 2,020,635
Storm and drainage improvements 45,000 45,000 29,186
I-55 interchange design 50,000 50,000 13,785
Emerald ash borer 200,000 200,000 396,796
127th Street-Plainfield/Naperville Rd 50,000 50,000 -
Settler's park-campus refresh - - 75,026
Total expenditures 3,511,000 3,511,000 3,897,730
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 2,552,600 2,552,600 2,981,210
OTHER FINANCING SOURCES (USES)
Transfers in 500,000 500,000 2,878,289
Transfers (out)(2,494,850) (2,494,850) (2,500,818)
Sale of fixed assets - - 31,180
Total other financing sources (uses)(1,994,850) (1,994,850) 408,651
NET CHANGE IN FUND BALANCE 557,750$ 557,750$ 3,389,861
FUND BALANCE, MAY 1 5,447,573
FUND BALANCE, APRIL 30 8,837,434$
For the Year Ended April 30, 2016
VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
(See independent auditor's report.)
- 80 -
Original Final
Budget Budget Actual
REVENUES
Taxes
Property tax 116,100$ 116,100$ 114,654$
Investment income - - 36
Total revenues 116,100 116,100 114,690
EXPENDITURES
Debt service
Principal 2,220,000 2,220,000 2,215,000
Interest and fiscal charges 889,050 889,050 890,875
Total expenditures 3,109,050 3,109,050 3,105,875
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES (2,992,950) (2,992,950) (2,991,185)
OTHER FINANCING SOURCES (USES)
Transfers in 2,992,950 2,992,950 2,991,618
Total other financing sources (uses)2,992,950 2,992,950 2,991,618
NET CHANGE IN FUND BALANCE -$ -$ 433
FUND BALANCE, MAY 1 1,700
FUND BALANCE, APRIL 30 2,133$
For the Year Ended April 30, 2016
VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
DEBT SERVICE FUND
(See independent auditor's report.)
- 81 -
NONMAJOR GOVERNMENTAL FUNDS
Special Revenue Funds are used to account for the proceeds of specific revenue sources that are
restricted or committed to expenditures for specified purposes.
Liability Insurance Fund - accounts for the restricted revenue and expenditures of property
tax levied for the payment of premiums of public liability insurance carried by the Village.
Audit Fund - accounts for the restricted revenue and expenditures of taxes levied for payment
of the cost of the annual audit of the Village’s financial statements.
Alcohol Enforcement Fund - accounts for restricted revenue collected on DUI arrests and
expenditures for the purchase of video cameras to combat drunk driving.
Motor Fuel Tax Fund - accounts for expenditures related to approved motor fuel tax projects
and restricted revenue from the state gasoline tax as collected and distributed by the State of
Illinois.
D.A.R.E. Fund - accounts for the revenue and expenditures of restricted contributions made
to the Drug Abuse Resistance Education (D.A.R.E.) program.
Tax Increment Financing Fund - accounts for restricted revenue generated by the TIF District
and expenditures budgeted to be paid with TIF revenue.
VILLAGE OF PLAINFIELD, ILLINOIS
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
April 30, 2016
Liability Alcohol
Insurance Audit Enforcement
ASSETS AND DEFERRED
OUTFLOWS OF RESOURCES
ASSETS
Cash and investments 21,706$ 6,161$ 36,316$
Receivables
Property tax 610,284 41,546 -
Allotments - - -
Other - - 1,580
Total assets 631,990 47,707 37,896
DEFERRED OUTFLOWS OF RESOURCES
None - - -
TOTAL ASSETS AND DEFERRED
OUTFLOWS OF RESOURCES 631,990$ 47,707$ 37,896$
LIABILITIES
Accounts payable 580$ -$ -$
DEFERRED INFLOWS OF RESOURCES
Unavailable property tax revenue 610,284 41,546 -
Total liabilities and deferred inflows of resources 610,864 41,546 -
FUND BALANCES
Restricted
Street maintenance - - -
Public safety - - 37,896
Audit - 6,161 -
Liability insurance 21,126 - -
Economic development - - -
Total fund balances 21,126 6,161 37,896
TOTAL LIABILITIES, DEFERRED INFLOWS
OF RESOURCES, AND FUND BALANCES 631,990$ 47,707$ 37,896$
Special Revenue
OF RESOURCES, AND FUND BALANCES
LIABILITIES, DEFERRED INFLOWS
- 82 -
Tax
Motor Increment
Fuel Tax D.A.R.E.Financing Total
2,873,198$ 6,911$ 993,558$ 3,937,850$
- - 736,879 1,388,709
90,079 - - 90,079
- - - 1,580
2,963,277 6,911 1,730,437 5,418,218
- - - -
2,963,277$ 6,911$ 1,730,437$ 5,418,218$
144,096$ 4,156$ 108,292$ 257,124$
- - 736,879 1,388,709
144,096 4,156 845,171 1,645,833
2,819,181 - - 2,819,181
- 2,755 - 40,651
- - - 6,161
- - - 21,126
- - 885,266 885,266
2,819,181 2,755 885,266 3,772,385
2,963,277$ 6,911$ 1,730,437$ 5,418,218$
Special Revenue
(See independent auditor's report.)
- 83 -
VILLAGE OF PLAINFIELD, ILLINOIS
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
For the Year Ended April 30, 2016
Liability Alcohol
Insurance Audit Enforcement
REVENUES
Taxes 529,935$ 38,820$ -$
Intergovernmental - - -
Fines and forfeits - - 21,398
Investment income 189 16 56
Miscellaneous 12,150 - -
Total revenues 542,274 38,836 21,454
EXPENDITURES
Current
General government 44,798 36,645 -
Public safety 453,453 - -
Highways and streets 93,523 - -
Total expenditures 591,774 36,645 -
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES (49,500) 2,191 21,454
OTHER FINANCING SOURCES (USES)
Transfers in - - -
Transfers (out)- - (12,000)
Sale of fixed assets - - -
Total other financing sources (uses)- - (12,000)
NET CHANGE IN FUND BALANCES (49,500) 2,191 9,454
FUND BALANCES, MAY 1 70,626 3,970 28,442
FUND BALANCES, APRIL 30 21,126$ 6,161$ 37,896$
Special Revenue
- 84 -
Tax
Motor Increment
Fuel Tax D.A.R.E.Financing Total
-$ -$ 737,382$ 1,306,137$
1,114,756 - - 1,114,756
- - - 21,398
3,175 15 1,987 5,438
200 25,720 - 38,070
1,118,131 25,735 739,369 2,485,799
- - 363,129 444,572
- 26,596 - 480,049
996,972 - - 1,090,495
996,972 26,596 363,129 2,015,116
121,159 (861) 376,240 470,683
7,300 - - 7,300
- - (550,000) (562,000)
- - 72,922 72,922
7,300 - (477,078) (481,778)
128,459 (861) (100,838) (11,095)
2,690,722 3,616 986,104 3,783,480
2,819,181$ 2,755$ 885,266$ 3,772,385$
Special Revenue
(See independent auditor's report.)
- 85 -
Original Final
Budget Budget Actual
REVENUES
Taxes
Property tax 530,000$ 530,000$ 529,935$
Investment income 100 100 189
Miscellaneous - - 12,150
Total revenues 530,100 530,100 542,274
EXPENDITURES
General government
Treasurer bond 500 500 -
Commercial umbrella liability insurance 18,926 18,926 19,663
Workman's compensation insurance 24,604 24,604 25,135
Public safety
Commercial umbrella liability insurance 191,565 191,565 199,033
Workman's compensation insurance 249,034 249,034 254,420
Highways and streets
Commercial umbrella liability insurance 39,509 39,509 41,050
Workman's compensation insurance 51,362 51,362 52,473
Total expenditures 575,500 575,500 591,774
NET CHANGE IN FUND BALANCE (45,400)$ (45,400)$ (49,500)
FUND BALANCE, MAY 1 70,626
FUND BALANCE, APRIL 30 21,126$
For the Year Ended April 30, 2016
VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
LIABILITY INSURANCE FUND
(See independent auditor's report.)
- 86 -
Original Final
Budget Budget Actual
REVENUES
Taxes
Property tax 42,000$ 42,000$ 38,820$
Investment income 10 10 16
Total revenues 42,010 42,010 38,836
EXPENDITURES
General government
Audit 42,000 42,000 36,645
Total expenditures 42,000 42,000 36,645
NET CHANGE IN FUND BALANCE 10$ 10$ 2,191
FUND BALANCE, MAY 1 3,970
FUND BALANCE, APRIL 30 6,161$
For the Year Ended April 30, 2016
VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
AUDIT FUND
(See independent auditor's report.)
- 87 -
VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
ALCOHOL ENFORCEMENT FUND
For the Year Ended April 30, 2016
Final Original
Budget Budget Actual
REVENUES
Fines and forfeits
DUI proceeds 10,000$ 10,000$ 21,398$
Investment income 30 30 56
Total revenues 10,030 10,030 21,454
EXPENDITURES
None - - -
Total expenditures - - -
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 10,030 10,030 21,454
OTHER FINANCING SOURCES (USES)
Transfers (out)(12,000) (12,000) (12,000)
NET CHANGE IN FUND BALANCE (1,970)$ (1,970)$ 9,454
FUND BALANCE, MAY 1 28,442
FUND BALANCE, APRIL 30 37,896$
(See independent auditor's report.)
- 88 -
VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
MOTOR FUEL TAX FUND
For the Year Ended April 30, 2016
Original Final
Budget Budget Actual
REVENUES
Intergovernmental
State allotments 1,250,000$ 1,250,000$ 1,114,756$
Investment income 300 300 3,175
Miscellaneous - - 200
Total revenues 1,250,300 1,250,300 1,118,131
EXPENDITURES
Highways and streets
Street maintenance 1,000,500 1,000,500 996,972
Total expenditures 1,000,500 1,000,500 996,972
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 249,800 249,800 121,159
OTHER FINANCING SOURCES (USES)
Transfers in - - 7,300
Transfers (out)(200,000) (200,000) -
Total other financing sources (uses)(200,000) (200,000) 7,300
NET CHANGE IN FUND BALANCE 49,800$ 49,800$ 128,459
FUND BALANCE, MAY 1 2,690,722
FUND BALANCE, APRIL 30 2,819,181$
(See independent auditor's report.)
- 89 -
VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
D.A.R.E. FUND
For the Year Ended April 30, 2016
Original Final
Budget Budget Actual
REVENUES
Investment income 20$ 20$ 15$
Miscellaneous 13,000 13,000 25,720
Total revenues 13,020 13,020 25,735
EXPENDITURES
Public safety
Program expenditures 22,000 22,000 26,596
Total expenditures 22,000 22,000 26,596
NET CHANGE IN FUND BALANCE (8,980)$ (8,980)$ (861)
FUND BALANCE, MAY 1 3,616
FUND BALANCE, APRIL 30 2,755$
(See independent auditor's report.)
- 90 -
VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
TAX INCREMENT FINANCING FUND
For the Year Ended April 30, 2016
Original Final
Budget Budget Actual
REVENUES
Taxes
Property taxes 745,000$ 745,000$ 737,382$
Investment income 500 500 1,987
Total revenues 745,500 745,500 739,369
EXPENDITURES
General government
Contractual services 700,000 700,000 78,658
Facade improvements 250,000 250,000 284,471
Total expenditures 950,000 950,000 363,129
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES (204,500) (204,500) 376,240
OTHER FINANCING SOURCES (USES)
Transfers (out)(550,000) (550,000) (550,000)
Sale of fixed assets - - 72,922
Total other financing sources (uses)(550,000) (550,000) (477,078)
NET CHANGE IN FUND BALANCE (754,500)$ (754,500)$ (100,838)
FUND BALANCE, MAY 1 986,104
FUND BALANCE, APRIL 30 885,266$
(See independent auditor's report.)
- 91 -
MAJOR ENTERPRISE FUND
VILLAGE OF PLAINFIELD, ILLINOIS
COMBINING SCHEDULE OF NET POSITION
WATER AND SEWER DEPARTMENT ACCOUNTS
April 30, 2016
Water and
Sewer Capital
Operations Projects Total
CURRENT ASSETS
Cash and investments 11,237,806$ 3,228,227$ 14,466,033$
Receivables
Accounts 1,922,604 - 1,922,604
Sales tax 391,476 - 391,476
Other 251 - 251
Interest 7,223 14,558 21,781
Prepaid expenses 15,225 - 15,225
Total current assets 13,574,585 3,242,785 16,817,370
CAPITAL ASSETS
Nondepreciable 3,542,217 - 3,542,217
Depreciable, net of accumulated
depreciation 103,167,181 - 103,167,181
Net capital assets 106,709,398 - 106,709,398
OTHER ASSETS
Deposits 201,555 - 201,555
Total other assets 201,555 - 201,555
Total assets 120,485,538 3,242,785 123,728,323
DEFERRED OUTFLOWS OF RESOURCES
Deferred outflows of resources - IMRF 203,098 - 203,098
Unamortized loss on refundings 2,546,454 - 2,546,454
Total deferred outflows of resources 2,749,552 - 2,749,552
Total assets and deferred
outflows of resources 123,235,090 3,242,785 126,477,875
(This schedule is continued on the following page.)
- 92 -
VILLAGE OF PLAINFIELD, ILLINOIS
COMBINING SCHEDULE OF NET POSITION (Continued)
WATER AND SEWER DEPARTMENT ACCOUNTS
April 30, 2016
Water and
Sewer Capital
Operations Projects Total
CURRENT LIABILITIES
Accounts payable 1,297,868$ -$ 1,297,868$
Accrued payroll 48,915 - 48,915
Accrued interest 390,392 - 390,392
Compensated absences payable - current 67,650 - 67,650
Illinois EPA loan payable - current 155,470 - 155,470
Bonds payable - current 2,140,000 - 2,140,000
Developer deposit 27,247 - 27,247
Total current liabilities 4,127,542 - 4,127,542
LONG-TERM LIABILITIES
Compensated absences payable - long-term 9,194 - 9,194
Net pension liability - IMRF 614,019 - 614,019
Illinois EPA loan payable - long-term 2,486,244 - 2,486,244
Bonds payable - long-term 21,080,959 - 21,080,959
Total long-term liabilities 24,190,416 - 24,190,416
DEFERRED INFLOWS OF RESOURCES
Deferred inflows of resources - IMRF 26,887 - 26,887
Total liabilities and deferred
inflows of resources 28,344,845 - 28,344,845
NET POSITION
Net investment in capital assets 83,393,179 - 83,393,179
Restricted for debt service 2,247,562 - 2,247,562
Unrestricted 9,249,504 3,242,785 12,492,289
TOTAL NET POSITION 94,890,245$ 3,242,785$ 98,133,030$
(See independent auditor's report.)
- 93 -
VILLAGE OF PLAINFIELD, ILLINOIS
COMBINING SCHEDULE OF REVENUES, EXPENSES, AND
CHANGES IN NET POSITION
WATER AND SEWER DEPARTMENT ACCOUNTS
For the Year Ended April 30, 2016
Water and
Sewer Capital
Operations Projects Eliminations Total
OPERATING REVENUES
Charges for services
Customer sales 14,194,012$ -$ -$ 14,194,012$
Meter sales 30,672 - - 30,672
Total operating revenues 14,224,684 - - 14,224,684
OPERATING EXPENSES
Water operations 9,756,641 - - 9,756,641
Sewer operations 2,234,970 - - 2,234,970
Depreciation 3,051,103 - - 3,051,103
Total operating expenses 15,042,714 - - 15,042,714
OPERATING INCOME (LOSS)(818,030) - - (818,030)
NON-OPERATING REVENUES (EXPENSES)
Home rule sales tax 1,701,328 - - 1,701,328
Miscellaneous income 822,046 - - 822,046
Investment income 45,688 16,214 - 61,902
Interest expense (933,484) - - (933,484)
Total non-operating revenues (expenses)1,635,578 16,214 - 1,651,792
INCOME BEFORE TRANSFERS 817,548 16,214 - 833,762
TRANSFERS
Transfers (out)(498,100) - - (498,100)
Total transfers (498,100) - - (498,100)
CHANGE IN NET POSITION 319,448 16,214 - 335,662
NET POSITION, MAY 1 94,906,032 3,226,571 - 98,132,603
Change in accounting principle (335,235) - - (335,235)
NET POSITION, MAY 1, RESTATED 94,570,797 3,226,571 - 97,797,368
NET POSITION, APRIL 30 94,890,245$ 3,242,785$ -$ 98,133,030$
(See independent auditor's report.)
- 94 -
VILLAGE OF PLAINFIELD, ILLINOIS
COMBINING SCHEDULE OF CASH FLOWS
WATER AND SEWER DEPARTMENT ACCOUNTS
For the Year Ended April 30, 2016
Water and
Sewer Capital
Operations Projects Eliminations Total
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customers 14,153,220$ -$ -$ 14,153,220$
Reimbursements to other funds (250,000) - - (250,000)
Payments to suppliers (10,423,954) - - (10,423,954)
Payments to employees (1,223,052) - - (1,223,052)
Net cash from operating activities 2,256,214 - - 2,256,214
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES
Transfers (out)(498,100) - - (498,100)
Non-operating revenues 2,498,819 - - 2,498,819
Net cash from noncapital financing activities 2,000,719 - - 2,000,719
CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES
Purchase of capital assets (383,205) - - (383,205)
Principal payments on long-term debt (2,113,545) - - (2,113,545)
Interest paid (822,520) - - (822,520)
Net cash from capital and related
financing activities (3,319,270) - - (3,319,270)
CASH FLOWS FROM INVESTING ACTIVITIES
Sales of investment securities 324,845 - - 324,845
Interest received 45,688 23,111 - 68,799
Net cash from investing activities 370,533 23,111 - 393,644
NET INCREASE IN CASH AND CASH EQUIVALENTS 1,308,196 23,111 - 1,331,307
CASH AND CASH EQUIVALENTS, MAY 1 9,929,610 1,913,253 - 11,842,863
CASH AND CASH EQUIVALENTS, APRIL 30 11,237,806$ 1,936,364$ -$ 13,174,170$
(This schedule is continued on the following page.)
- 95 -
VILLAGE OF PLAINFIELD, ILLINOIS
COMBINING SCHEDULE OF CASH FLOWS (Continued)
WATER AND SEWER DEPARTMENT ACCOUNTS
For the Year Ended April 30, 2016
Water and
Sewer Capital
Operations Projects Eliminations Total
RECONCILIATION OF OPERATING INCOME
(LOSS) TO NET CASH FLOWS FROM
OPERATING ACTIVITIES
Operating income (loss)(818,030)$ -$ -$ (818,030)$
Adjustments to reconcile operating income
(loss) to net cash from operating activities
Depreciation 3,051,103 - - 3,051,103
(Increase) decrease in
Accounts receivable (71,464) - - (71,464)
Prepaid items 1,942 - - 1,942
Deposits 5,429 - - 5,429
Increase (decrease) in
Pension items - IMRF 102,573 - - 102,573
Accounts payable (23,567) - - (23,567)
Accrued expenses 8,228 - - 8,228
Total adjustments 3,074,244 - - 3,074,244
NET CASH FROM OPERATING ACTIVITIES 2,256,214$ -$ -$ 2,256,214$
CASH AND INVESTMENTS
Cash and cash equivalents 11,237,806$ 1,936,364$ -$ 13,174,170$
Investments - 1,291,863 - 1,291,863
TOTAL CASH AND INVESTMENTS 11,237,806$ 3,228,227$ -$ 14,466,033$
NONCASH TRANSACTIONS
None -$ -$ -$ -$
(See independent auditor's report.)
- 96 -
VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL
WATER AND SEWER OPERATIONS ACCOUNT
For the Year Ended April 30, 2016
Original Final
Budget Budget Actual
WATER OPERATIONS
Administration
Salaries - full-time 227,541$ 227,541$ 229,401$
FICA 14,165 14,165 13,984
Medicare 3,315 3,315 3,354
IMRF 25,035 25,035 26,624
Employee insurance 52,765 52,765 36,255
Deferred compensation contribution 7,000 7,000 7,788
Travel/training 8,500 8,500 4,239
Unemployment insurance 3,000 3,000 1,671
Telephone/internet 3,500 3,500 3,128
Cellular phones/pagers 4,000 4,000 3,690
Office supplies/postage 26,000 26,000 30,848
Dues and subscriptions 2,000 2,000 1,244
Gas, oil, wash, and mileage 800 800 131
Software 2,000 2,000 1,838
Sand and gravel 800 800 926
Supplies/hardware 500 500 175
Water meters 160,000 160,000 141,417
Building maintenance 15,000 15,000 8,541
Legal notices 500 500 -
Attorney legal fees 1,000 1,000 2,244
Contractual services 40,000 40,000 34,698
Equipment maintenance 500 500 -
Engineer fees 5,000 5,000 128
Insurance surplus allocation - - 5,429
Administrative service charge 125,000 125,000 125,000
Total administration 727,921 727,921 682,753
Water provision
Salaries - full-time 381,485 381,485 378,548
Salaries - part-time 13,000 13,000 9,474
Salaries - overtime 30,000 30,000 35,280
FICA 26,442 26,442 26,171
Medicare 6,184 6,184 6,155
IMRF 47,578 47,578 47,939
Employee insurance 66,002 66,002 60,654
Deferred compensation contribution 10,500 10,500 13,904
Telephone/internet 6,000 6,000 5,362
Cellular phones/pagers 2,000 2,000 -
Electricity/gas 145,000 145,000 156,790
Office supplies/postage 3,000 3,000 75
Replacement supplies 11,000 11,000 10,150
Gas, oil, wash, and mileage 22,000 22,000 12,137
(This schedule is continued on the following pages.)
- 97 -
VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL (Continued)
WATER AND SEWER OPERATIONS ACCOUNT
For the Year Ended April 30, 2016
Original Final
Budget Budget Actual
WATER OPERATIONS (Continued)
Water provision (Continued)
Chemicals 5,000$ 5,000$ 4,025$
Supplies/hardware 4,000 4,000 4,282
Uniforms/clothing 2,500 2,500 3,322
Building maintenance 5,000 5,000 2,365
Vehicle maintenance 9,000 9,000 5,215
Contractual services 35,000 35,000 48,317
Water purchase 7,500,000 7,500,000 8,124,114
Equipment maintenance 10,000 10,000 11,512
System maintenance 45,000 45,000 26,311
Water/fire hydrant 15,000 15,000 15,071
EPA analytical 15,300 15,300 15,429
Total water provision 8,415,991 8,415,991 9,022,602
Total water operations 9,143,912 9,143,912 9,705,355
SEWER OPERATIONS
Administration
Salaries - full-time 228,346 228,346 229,701
FICA 14,157 14,157 13,951
Medicare 3,311 3,311 3,346
IMRF 26,260 26,260 26,595
Employee insurance 47,147 47,147 37,137
Deferred compensation contribution 6,500 6,500 7,565
Travel/training 8,500 8,500 10,175
Unemployment insurance 3,000 3,000 1,671
Telephone/internet 9,000 9,000 7,242
Cellular phones/pagers 3,500 3,500 3,435
Office supplies/postage 25,000 25,000 30,738
Dues and subscriptions 66,200 66,200 59,021
Gas, oil, wash and mileage 1,000 1,000 366
Supplies/hardware 4,000 4,000 661
Software 1,000 1,000 -
Building maintenance 15,000 15,000 12,405
Attorney legal fees 2,000 2,000 756
Contractual services 20,000 20,000 19,636
Equipment maintenance 2,000 2,000 880
Engineer fees 10,000 10,000 13,350
Administrative service charge 125,000 125,000 125,000
Total administration 620,921 620,921 603,631
(This schedule is continued on the following page.)
- 98 -
VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL (Continued)
WATER AND SEWER OPERATIONS ACCOUNT
For the Year Ended April 30, 2016
Original Final
Budget Budget Actual
SEWER OPERATIONS (Continued)
Sewer treatment
Salaries - full-time 388,469$ 388,469$ 388,887$
Salaries - part-time 10,000 10,000 9,474
Salaries - overtime 30,000 30,000 27,640
FICA 26,565 26,565 26,345
Medicare 6,213 6,213 6,193
IMRF 47,500 47,500 48,544
Employee insurance 75,304 75,304 68,440
Deferred compensation contribution 9,500 9,500 12,170
Telephone/internet 15,000 15,000 13,405
Electricity/gas 525,000 525,000 503,309
Replacement supplies 6,000 6,000 1,648
Gas, oil, wash, and mileage 15,000 15,000 10,229
Supplies/hardware 7,000 7,000 12,960
Chemicals/supplies 125,000 125,000 117,231
Sand and gravel 500 500 -
Industrial flow monitor 20,000 20,000 7,052
Uniforms/clothing 5,000 5,000 7,685
Vehicle maintenance 8,000 8,000 4,977
Contractual services 165,000 165,000 149,779
Equipment maintenance 20,000 20,000 29,493
System maintenance 50,000 50,000 54,209
Maintenance - James Street 5,000 5,000 196
Total sewer treatment 1,560,051 1,560,051 1,499,866
Other
Capital repair and replacement - sewer 1,175,000 1,175,000 463,391
Total other 1,175,000 1,175,000 463,391
Total sewer operations 3,355,972 3,355,972 2,566,888
Total water and sewer operating expenses 12,499,884$ 12,499,884$ 12,272,243
ADJUSTMENTS TO GAAP BASIS
Pension expense - IMRF - water division 51,286
Pension expense - IMRF - sewer division 51,287
Capital assets capitalized (383,205)
Depreciation 3,051,103
Total adjustments to GAAP Basis 2,770,471
TOTAL WATER AND SEWER OPERATING EXPENSES
GAAP BASIS 15,042,714$
(See independent auditor's report.)
- 99 -
FIDUCIARY FUNDS
SCHEDULE OF CHANGES IN FIDUCIARY NET POSITION -
BUDGET AND ACTUAL
POLICE PENSION FUND
For the Year Ended April 30, 2016
Original Final
Budget Budget Actual
ADDITIONS
Contributions
Employer 950,000$ 950,000$ 948,599$
Employee 510,000 510,000 490,958
Total contributions 1,460,000 1,460,000 1,439,557
Investment income
Net appreciation (depreciation) in
fair value of investments 400,000 400,000 (795,015)
Interest 400,000 400,000 791,770
Total investment income 800,000 800,000 (3,245)
Less investment expense (38,000) (38,000) (69,450)
Net investment income 762,000 762,000 (72,695)
Total additions 2,222,000 2,222,000 1,366,862
DEDUCTIONS
Pension benefits 440,000 440,000 434,932
Administrative expenses 40,000 40,000 32,827
Total deductions 480,000 480,000 467,759
NET INCREASE 1,742,000$ 1,742,000$ 899,103
NET POSITION RESTRICTED
FOR PENSIONS
May 1 23,825,750
April 30 24,724,853$
VILLAGE OF PLAINFIELD, ILLINOIS
(See independent auditor's report.)
- 100 -
SUPPLEMENTAL SCHEDULES
LONG-TERM DEBT REQUIREMENTS
CORPORATE PURPOSE GENERAL OBLIGATION
BOND SERIES OF 2005B
Date of Issue May 16, 2005
Date of Maturity December 15, 2016
Authorized Issue 5,610,000$
Actual Issue 5,610,000$
Interest Rates
Principal Maturity Date
Interest Dates
Payable at The Bank of New York Trust Company, NA
Fiscal
Year Principal Interest Total June 15,Amount December 15,Amount
2017 100,000$ 3,875$ 103,875$ 2016 1,938$ 2016 1,937$
100,000$ 3,875$ 103,875$ 1,938$ 1,937$
VILLAGE OF PLAINFIELD, ILLINOIS
June 15 and December 15
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
April 30, 2016
December 15
3.25% to 5.00%
(See independent auditor's report.)
- 101 -
LONG-TERM DEBT REQUIREMENTS
CORPORATE PURPOSE GENERAL OBLIGATION
BOND SERIES OF 2007
Date of Issue July 6, 2007
Date of Maturity December 15, 2026
Authorized Issue 15,135,000$
Actual Issue 15,135,000$
Interest Rates 4% to 5%
Principal Maturity Date
Interest Dates
Payable at The Bank of New York Trust Company, NA
Fiscal
Year Principal Interest Total June 15,Amount December 15,Amount
2017 725,000$ 75,100$ 800,100$ 2016 37,550$ 2016 37,550$
2018 755,000 42,475 797,475 2017 21,238 2017 21,238
2019 170,000 8,500 178,500 2018 4,250 2018 4,250
1,650,000$ 126,075$ 1,776,075$ 63,038$ 63,038$
VILLAGE OF PLAINFIELD, ILLINOIS
June 15 and December 15
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
April 30, 2016
December 15
(See independent auditor's report.)
- 102 -
Date of Issue November 18, 2008
Date of Maturity May 1, 2034
Authorized Issue 16,385,000$
Actual Issue 16,385,000$
Interest Rates 4.185% to 5.625%
Principal Maturity Date May 1
Interest Dates May 1
Payable at The Bank of New York Mellon Trust Company, NA
Fiscal
Year Principal Interest Total May 1,Amount November 1,Amount
2017 450,000$ 58,269$ 508,269$ 2016 34,338$ 2016 23,931$
2018 475,000 36,431 511,431 2017 23,931 2017 12,500
2019 500,000 12,500 512,500 2018 12,500 2018 -
1,425,000$ 107,200$ 1,532,200$ 70,769$ 36,431$
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
VILLAGE OF PLAINFIELD, ILLINOIS
LONG-TERM DEBT REQUIREMENTS
WATER AND SEWER REVENUE
BOND SERIES OF 2008
April 30, 2016
(See independent auditor's report.)
- 103 -
LONG-TERM DEBT REQUIREMENTS
CORPORATE PURPOSE GENERAL OBLIGATION REFUNDING
BOND SERIES OF 2009
Date of Issue
Date of Maturity
Authorized Issue 950,000$
Actual Issue 865,000$
Interest Rates 2% to 4%
Principal Maturity Date
Interest Dates
Payable at The Bank of New York Mellon Trust Company, NA
Fiscal
Year Principal Interest Total June 15,Amount December 15,Amount
2017 100,000$ 16,100$ 116,100$ 2016 8,050$ 2016 8,050$
2018 100,000 12,600 112,600 2017 6,300 2017 6,300
2019 105,000 8,600 113,600 2018 4,300 2018 4,300
2020 110,000 4,400 114,400 2019 2,200 2019 2,200
415,000$ 41,700$ 456,700$ 20,850$ 20,850$
December 15, 2019
December 15
June 15 and December 15
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
VILLAGE OF PLAINFIELD, ILLINOIS
April 30, 2016
December 15, 2009
(See independent auditor's report.)
- 104 -
LONG-TERM DEBT REQUIREMENTS
CORPORATE PURPOSE GENERAL OBLIGATION REFUNDING
BOND SERIES OF 2010
Date of Issue October 28, 2010
Date of Maturity December 15, 2023
Authorized Issue 10,090,000$
Actual Issue 9,280,000$
Interest Rates 2% to 4%
Principal Maturity Date
Interest Dates
Payable at The Bank of New York Mellon Trust Company, NA
Fiscal
Year Principal Interest Total June 15,Amount December 15,Amount
2017 720,000$ 250,900$ 970,900$ 2016 125,450$ 2016 125,450$
2018 750,000 229,300 979,300 2017 114,650 2017 114,650
2019 770,000 206,800 976,800 2018 103,400 2018 103,400
2020 805,000 176,000 981,000 2019 88,000 2019 88,000
2021 840,000 143,800 983,800 2020 71,900 2020 71,900
2022 875,000 110,200 985,200 2021 55,100 2021 55,100
2023 920,000 75,200 995,200 2022 37,600 2022 37,600
2024 960,000 38,400 998,400 2023 19,200 2023 19,200
6,640,000$ 1,230,600$ 7,870,600$ 615,300$ 615,300$
December 15
June 15 and December 1 5
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
VILLAGE OF PLAINFIELD, ILLINOIS
April 30, 2016
(See independent auditor's report.)
- 105 -
Date of Issue
Date of Maturity
Authorized Issue
Actual Issue
Interest Rates 1.25%
Principal Maturity Dates
Interest Dates
Fiscal
Year Principal Interest Total June 15,Principal Interest December 15,Principal Interest
2017 155,470$ 32,537$ 188,007$ 2016 77,493$ 16,511$ 2016 77,977$ 16,026$
2018 157,419 30,588 188,007 2017 78,464 15,539 2017 78,955 15,049
2019 159,393 28,614 188,007 2018 79,448 14,555 2018 79,945 14,059
2020 161,392 26,615 188,007 2019 80,445 13,559 2019 80,947 13,056
2021 163,416 24,591 188,007 2020 81,454 12,550 2020 81,962 12,041
2022 165,465 22,542 188,007 2021 82,475 11,529 2021 82,990 11,013
2023 167,540 20,467 188,007 2022 83,509 10,495 2022 84,031 9,972
2024 169,640 18,367 188,007 2023 84,556 9,448 2023 85,084 8,919
2025 171,767 16,240 188,007 2024 85,616 8,388 2024 86,151 7,852
2026 173,921 14,086 188,007 2025 86,690 7,314 2025 87,231 6,772
2027 176,102 11,905 188,007 2026 87,777 6,227 2026 88,325 5,678
2028 178,310 9,697 188,007 2027 88,877 5,126 2027 89,433 4,571
2029 180,546 7,461 188,007 2028 89,992 4,012 2028 90,554 3,449
2030 182,810 5,197 188,007 2029 91,120 2,883 2029 91,690 2,314
2031 185,102 2,905 188,007 2030 92,263 1,741 2030 92,839 1,164
2032 93,421 584 94,005 2031 93,421 584 2031 - -
2,641,714$ 272,396$ 2,914,110$ 1,363,600$ 140,461$ 1,278,114$ 131,935$
June 15 and December 15
June 15 and December 15
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
VILLAGE OF PLAINFIELD, ILLINOIS
April 30, 2016
August 1, 2010
3,309,451$
3,235,880$
LONG-TERM DEBT REQUIREMENTS
ILLINOIS ENVIRONMENTAL PROTECTION AGENCY
June 15, 2031
LOAN OF 2010
(See independent auditor's report.)
- 106 -
LONG-TERM DEBT REQUIREMENTS
CORPORATE PURPOSE GENERAL OBLIGATION REFUNDING
BOND SERIES OF 2012
Date of Issue
Date of Maturity
Authorized Issue 6,820,000$
Actual Issue 6,820,000$
Interest Rates 2% to 3%
Principal Maturity Date
Interest Dates
Payable at The Bank of New York Mellon Trust Company, NA
Fiscal
Year Principal Interest Total June 15,Amount December 15,Amount
2017 645,000$ 188,100$ 833,100$ 2016 94,050$ 2016 94,050$
2018 660,000 175,200 835,200 2017 87,600 2017 87,600
2019 680,000 155,400 835,400 2018 77,700 2018 77,700
2020 695,000 135,000 830,000 2019 67,500 2019 67,500
2021 715,000 114,150 829,150 2020 57,075 2020 57,075
2022 735,000 92,700 827,700 2021 46,350 2021 46,350
2023 765,000 70,650 835,650 2022 35,325 2022 35,325
2024 785,000 47,700 832,700 2023 23,850 2023 23,850
2025 805,000 24,150 829,150 2024 12,075 2024 12,075
6,485,000$ 1,003,050$ 7,488,050$ 501,525$ 501,525$
December 15, 2024
December 15
June 15 and December 15
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
VILLAGE OF PLAINFIELD, ILLINOIS
April 30, 2016
February 23, 2012
(See independent auditor's report.)
- 107 -
LONG-TERM DEBT REQUIREMENTS
CORPORATE PURPOSE GENERAL OBLIGATION REFUNDING
BOND SERIES OF 2013
Date of Issue
Date of Maturity
Authorized Issue 8,100,000$
Actual Issue 7,370,000$
Interest Rates 2% to 4%
Principal Maturity Date
Interest Dates
Payable at The Bank of New York Mellon Trust Company, NA
Fiscal
Year Principal Interest Total June 15,Amount December 15,Amount
2017 1,500,000$ 201,450$ 1,701,450$ 2016 100,725$ 2016 100,725$
2018 1,655,000 171,450 1,826,450 2017 85,725 2017 85,725
2019 1,710,000 121,800 1,831,800 2018 60,900 2018 60,900
2020 1,780,000 53,400 1,833,400 2019 26,700 2019 26,700
6,645,000$ 548,100$ 7,193,100$ 274,050$ 274,050$
December 15, 2019
December 15
June 15 and December 15
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
VILLAGE OF PLAINFIELD, ILLINOIS
April 30, 2016
December 5, 2013
(See independent auditor's report.)
- 108 -
Date of Issue
Date of Maturity
Authorized Issue 10,525,000$
Actual Issue 9,665,000$
Interest Rates 2.0% to 3.5%
Principal Maturity Date
Interest Dates
Payable at Amalgamated Bank of Chicago
Fiscal
Year Principal Interest Total June 15,Amount December 15,Amount
2017 125,000$ 275,950$ 400,950$ 2016 137,975$ 2016 137,975$
2018 130,000 273,450 403,450 2017 136,725 2017 136,725
2019 750,000 270,850 1,020,850 2018 135,425 2018 135,425
2020 950,000 255,850 1,205,850 2019 127,925 2019 127,925
2021 965,000 236,850 1,201,850 2020 118,425 2020 118,425
2022 1,025,000 207,900 1,232,900 2021 103,950 2021 103,950
2023 1,060,000 177,150 1,237,150 2022 88,575 2022 88,575
2024 1,095,000 145,350 1,240,350 2023 72,675 2023 72,675
2025 1,090,000 112,500 1,202,500 2024 56,250 2024 56,250
2026 1,120,000 79,800 1,199,800 2025 39,900 2025 39,900
2027 1,160,000 40,600 1,200,600 2026 20,300 2026 20,300
9,470,000$ 2,076,250$ 11,546,250$ 1,038,125$ 1,038,125$
December 15
June 15 and December 15
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
April 30, 2016
VILLAGE OF PLAINFIELD, ILLINOIS
LONG-TERM DEBT REQUIREMENTS
CORPORATE PURPOSE GENERAL OBLIGATION REFUNDING
BOND SERIES OF 2014
July 16, 2014
December 15, 2026
(See independent auditor's report.)
- 109 -
Date of Issue
Date of Maturity
Authorized Issue 13,740,000$
Actual Issue 13,740,000$
Interest Rates 2% to 4%
Principal Maturity Date
Interest Dates
Payable at UMB Bank, N.A.
Fiscal
Year Principal Interest Total May 1,Amount November 1,Amount
2017 90,000$ 532,450$ 622,450$ 2016 266,675$ 2016 265,775$
2018 90,000 530,650 620,650 2017 265,775 2017 264,875
2019 90,000 528,850 618,850 2018 264,875 2018 263,975
2020 620,000 515,550 1,135,550 2019 263,975 2019 251,575
2021 645,000 490,250 1,135,250 2020 251,575 2020 238,675
2022 665,000 464,050 1,129,050 2021 238,675 2021 225,375
2023 700,000 436,750 1,136,750 2022 225,375 2022 211,375
2024 725,000 408,250 1,133,250 2023 211,375 2023 196,875
2025 750,000 378,750 1,128,750 2024 196,875 2024 181,875
2026 780,000 348,150 1,128,150 2025 181,875 2025 166,275
2027 810,000 316,350 1,126,350 2026 166,275 2026 150,075
2028 840,000 283,350 1,123,350 2027 150,075 2027 133,275
2029 875,000 249,050 1,124,050 2028 133,275 2028 115,775
2030 920,000 213,150 1,133,150 2029 115,775 2029 97,375
2031 950,000 175,750 1,125,750 2030 97,375 2030 78,375
2032 990,000 136,950 1,126,950 2031 78,375 2031 58,575
2033 1,030,000 96,550 1,126,550 2032 58,575 2032 37,975
2034 1,070,000 57,225 1,127,225 2033 37,975 2033 19,250
2035 1,100,000 19,250 1,119,250 2034 19,250 2034 -
13,740,000$ 6,181,325$ 19,921,325$ 3,224,000$ 2,957,325$
May 1, 2034
May 1
May 1 and November 1
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
VILLAGE OF PLAINFIELD, ILLINOIS
LONG-TERM DEBT REQUIREMENTS
WATER AND SEWER SYSTEM REVENUE REFUNDING
BOND SERIES OF 2015
April 30, 2016
January 7, 2015
(See independent auditor's report.)
- 110 -
- 96 -
INDEPENDENT ACCOUNTANT’S REPORT ON
MANAGEMENT’S ASSERTION OF COMPLIANCE
The Honorable President
Members of the Board of Trustees
Village of Plainfield, Illinois
We have examined management’s assertion, included in its representation letter dated
September 8, 2016 that the Village of Plainfield, Illinois (the Village) complied with the
provisions of subsection (q) of Section 11-74.4-3 of the Illinois Tax Increment Redevelopment
Allocation Act (Illinois Public Act 85-1142) during the year ended April 30, 2016. Management
is responsible for the Village’s assertion and for compliance with those requirements. Our
responsibility is to express an opinion on management’s assertion about the Village’s compliance
based on our examination.
Our examination was conducted in accordance with attestation standards established by the
American Institute of Certified Public Accountants and, accordingly, included examining, on a
test basis, evidence about the Village’s compliance with those requirements and performing such
other procedures as we considered necessary in the circumstances. We believe that our
examination provides a reasonable basis for our opinion. Our examination does not provide a
legal determination on the Village’s compliance with statutory requirements.
In our opinion, management’s assertion that the Village of Plainfield, Illinois complied with the
aforementioned requirements for the year ended April 30, 2016 is fairly stated, in all material
respects, for the Tax Increment Financing District Fund.
The purpose of this report is solely to describe the scope of our testing of management’s assertion
of compliance and the results of that testing. Accordingly, this communication is not suitable for
any other purpose.
Naperville, Illinois
September 14, 2016
- 111 -
STATISTICAL SECTION
This part of the Village of Plainfield, Illinois’ comprehensive annual financial report presents
detailed information as a context for understanding what the information in the financial
statements, note disclosures and required supplementary information displays about the Village’s
overall financial health.
Contents Page(s)
Financial Trends
These schedules contain trend information to help the reader understand
how the Village’s financial performance and well-being have been changed
over time.
112-121
Revenue Capacity
These schedules contain information to help the reader assess the Village’s
most significant local revenue source, the property tax.
122-129
Debt Capacity
These schedules present information to help the reader assess the
affordability of the Village’s current levels of outstanding debt and the
Village’s ability to issue additional debt in the future.
130-133
Demographic and Economic Information
These schedules offer demographic and economic indicators to help the
reader understand the environment within which the Village’s financial
activities take place.
134-135
Operating Information
These schedules contain service and infrastructure data to help the reader
understand how the information in the Village’s financial report relates to
the services the Village provides and the activities it performs.
136-139
Sources: Unless otherwise noted, the information in these schedules is derived from the
comprehensive annual financial reports for the relevant year.
Fiscal Year 2007 2008 2009 2010
GOVERNMENTAL ACTIVITIES
Net investment in capital assets 278,466,008$ 299,531,676$ 311,018,741$ 298,048,879$
Restricted 2,237,578 2,362,609 663,770 646,481
Unrestricted 6,723,816 487,060 (7,355,406) (6,273,817)
TOTAL GOVERNMENTAL ACTIVITIES 287,427,402$ 302,381,345$ 304,327,105$ 292,421,543$
BUSINESS-TYPE ACTIVITIES
Net investment in capital assets 70,926,825$ 75,033,891$ 81,625,000$ 85,624,259$
Restricted - - 857,545 603,727
Unrestricted 27,763,237 26,227,506 19,554,725 14,338,009
TOTAL BUSINESS-TYPE ACTIVITIES 98,690,062$ 101,261,397$ 102,037,270$ 100,565,995$
PRIMARY GOVERNMENT
Net investment in capital assets 349,392,833$ 374,565,567$ 392,643,741$ 383,673,138$
Restricted 2,237,578 2,362,609 1,521,315 1,250,208
Unrestricted 34,487,053 26,714,566 12,199,319 8,064,192
TOTAL PRIMARY GOVERNMENT 386,117,464$ 403,642,742$ 406,364,375$ 392,987,538$
*The Village implemented GASB Statement No. 68 for the fiscal year ended April 30, 2016.
Data Source
Audited Financial Statements
VILLAGE OF PLAINFIELD, ILLINOIS
NET POSITION BY COMPONENT
Last Ten Fiscal Years
- 112 -
2011 2012 2013 2014 2015 2016*
287,247,440$ 273,588,903$ 261,247,144$ 248,456,183$ 236,161,456$ 224,437,029$
679,852 2,258,412 2,874,252 3,006,647 3,783,480 4,260,303
(999,983) 3,010,321 8,503,651 12,390,475 16,035,847 6,885,635
286,927,309$ 278,857,636$ 272,625,047$ 263,853,305$ 255,980,783$ 235,582,967$
86,260,116$ 84,915,466$ 85,745,939$ 85,192,902$ 83,998,867$ 83,393,179$
601,299 601,161 603,205 602,080 2,106,291 2,247,562
10,526,199 10,420,908 12,265,523 12,652,914 12,027,445 12,492,289
97,387,614$ 95,937,535$ 98,614,667$ 98,447,896$ 98,132,603$ 98,133,030$
373,507,556$ 358,504,369$ 346,993,083$ 333,649,085$ 320,160,323$ 307,830,208$
1,281,151 2,859,573 3,477,457 3,608,727 5,889,771 6,507,865
9,526,216 13,431,229 20,769,174 25,043,389 28,063,292 19,377,924
384,314,923$ 374,795,171$ 371,239,714$ 362,301,201$ 354,113,386$ 333,715,997$
- 113 -
Fiscal Year 2007 2008 2009 2010
EXPENSES
Governmental activities
General government 4,772,237$ 3,773,026$ 5,373,883$ 3,634,146$
Public safety 9,130,771 11,233,703 11,030,984 10,192,710
Highways and streets 12,432,091 25,732,583 21,634,555 21,864,844
Interest 1,017,142 1,569,300 1,649,805 1,567,529
Total governmental activities expenses 27,352,241 42,308,612 39,689,227 37,259,229
BUSINESS-TYPE ACTIVITIES
Water and sewer 10,977,398 12,356,353 12,553,148 13,020,412
Total business-type activities expenses 10,977,398 12,356,353 12,553,148 13,020,412
TOTAL PRIMARY GOVERNMENT
EXPENSES 38,329,639$ 54,664,965$ 52,242,375$ 50,279,641$
PROGRAM REVENUES
Governmental activities
Charges for services
General government 6,577,406$ 4,917,022$ 4,179,546$ 3,914,078$
Public safety 915,690 995,843 1,473,661 1,702,528
Highways and streets 1,591,218 1,292,403 360,625 34,238
Operating grants and contributions 980,360 976,606 1,265,919 1,155,527
Capital grants and contributions 3,600 34,768,719 14,123,044 7,426,001
Total governmental activities
program revenues 10,068,274 42,950,593 21,402,795 14,232,372
Business-type activities
Charges for services
Water/sewer 9,333,222 10,359,459 9,317,371 9,510,526
Operating grants and contributions 2,708,972 2,146,177 573,211 495,793
Capital grants and contributions - 2,862,910 3,631,340 1,943,525
Total business-type activities
program revenues 12,042,194 15,368,546 13,521,922 11,949,844
TOTAL PRIMARY GOVERNMENT
PROGRAM REVENUES 22,110,468$ 58,319,139$ 34,924,717$ 26,182,216$
NET (EXPENSE) REVENUE
Governmental activities (17,283,967)$ 641,981$ (18,286,432)$ (23,026,857)$
Business-type activities 1,064,796 3,012,193 968,774 (1,070,568)
TOTAL PRIMARY GOVERNMENT
NET (EXPENSE) REVENUE (16,219,171)$ 3,654,174$ (17,317,658)$ (24,097,425)$
VILLAGE OF PLAINFIELD, ILLINOIS
CHANGE IN NET POSITION
Last Ten Fiscal Years
- 114 -
2011 2012 2013 2014 2015*2016
2,754,319$ 3,808,990$ 3,442,249$ 4,437,507$ 3,974,582$ 4,461,409$
10,703,278 11,247,015 11,273,628 11,321,562 11,778,078 12,608,966
21,833,556 22,554,164 21,995,249 23,977,254 23,731,474 24,868,163
1,333,022 1,347,798 1,213,432 1,154,112 1,059,100 870,373
36,624,175 38,957,967 37,924,558 40,890,435 40,543,234 42,808,911
13,563,407 13,215,950 14,648,769 15,233,480 15,513,750 15,976,198
13,563,407 13,215,950 14,648,769 15,233,480 15,513,750 15,976,198
50,187,582$ 52,173,917$ 52,573,327$ 56,123,915$ 56,056,984$ 58,785,109$
4,257,608$ 4,595,180$ 4,989,871$ 5,178,547$ 5,472,089$ 5,814,964$
1,913,421 1,937,666 1,756,994 1,658,959 1,611,233 1,418,860
3,783 13,909 178,221 141,846 9,193 37,417
1,508,358 2,239,921 1,372,279 1,386,766 1,492,593 1,203,530
2,328,859 257,817 1,009,182 118,359 44,267 360,507
10,012,029 9,044,493 9,306,547 8,484,477 8,629,375 8,835,278
10,135,734 11,482,986 14,066,990 13,361,542 13,407,793 14,224,684
- - - - - -
372,147 90,791 2,145,000 - - -
10,507,881 11,573,777 16,211,990 13,361,542 13,407,793 14,224,684
20,519,910$ 20,618,270$ 25,518,537$ 21,846,019$ 22,037,168$ 23,059,962$
(26,612,146)$ (29,913,474)$ (28,618,011)$ (32,405,958)$ (31,913,859)$ (33,973,633)$
(3,055,526) (1,642,173) 1,563,221 (1,871,938) (2,105,957) (1,751,514)
(29,667,672)$ (31,555,647)$ (27,054,790)$ (34,277,896)$ (34,019,816)$ (35,725,147)$
- 115 -
Fiscal Year 2007 2008 2009 2010
GENERAL REVENUES AND OTHER
CHANGES IN NET POSITION
Governmental activities
Taxes
Property and replacement 4,344,099$ 5,272,831$ 6,038,464$ 6,428,427$
Home rule sales tax - - - -
Utility/telecommunications 2,202,961 2,473,926 2,526,924 2,271,926
Local motor fuel - - - -
Other 14,900 8,086 5,471 4,860
Sales and use tax 4,736,740 5,916,893 7,478,502 7,377,482
Income tax 2,554,968 2,892,500 3,401,680 2,965,208
Investment income 860,745 706,248 138,961 15,166
Miscellaneous 62,045 174,853 115,945 87,030
Contributions 40,429,579 - - -
Transfers 2,200,271 1,227,514 526,245 524,770
Total governmental activities 57,406,308 18,672,851 20,232,192 19,674,869
Business-type activities
Home rule sales tax - - - -
Investment income 992,235 745,777 330,567 93,583
Miscellaneous 16,650 40,879 2,777 30,480
Contributions 4,426,038 - - -
Transfers (2,200,271) (1,227,514) (526,245) (524,770)
Total business-type activities 3,234,652 (440,858) (192,901) (400,707)
TOTAL PRIMARY GOVERNMENT 60,640,960$ 18,231,993$ 20,039,291$ 19,274,162$
CHANGE IN NET POSITION
Governmental activities 40,122,341$ 19,314,832$ 1,945,760$ (3,351,988)$
Business-type activities 4,299,448 2,571,335 775,873 (1,471,275)
TOTAL PRIMARY GOVERNMENT
CHANGE IN NET POSITION 44,421,789$ 21,886,167$ 2,721,633$ (4,823,263)$
*Beginning in fiscal year 2015, home rule sales tax is presented separately from sales and use tax.
Data Source
Audited Financial Statements
Last Ten Fiscal Years
VILLAGE OF PLAINFIELD, ILLINOIS
CHANGE IN NET POSITION (Continued)
- 116 -
2011 2012 2013 2014 2015*2016
6,651,509$ 6,306,567$ 6,300,458$ 6,352,505$ 6,538,805$ 6,633,529$
- - - - 3,286,980 3,403,167
2,980,148 3,066,185 2,981,462 3,198,840 3,107,995 2,816,908
296,235 489,711 838,419 790,158 813,718 897,404
4,447 7,069 5,804 4,966 8,250 7,587
7,670,219 8,143,910 8,495,268 8,848,545 5,842,343 6,199,078
2,910,807 3,203,518 3,567,060 3,857,016 3,876,349 4,218,244
8,190 6,770 20,956 27,857 (120,582) 53,007
68,237 103,695 72,956 63,581 197,627 267,223
- - - - - -
528,120 516,376 493,650 490,748 489,852 498,100
21,117,912 21,843,801 22,776,033 23,634,216 24,041,337 24,994,247
- - 1,415,262 1,630,710 1,643,244 1,701,328
26,906 8,480 9,010 14,986 141 61,902
378,359 699,990 1,169,633 550,219 637,131 822,046
- - - - - -
(528,120) (516,376) (493,650) (490,748) (489,852) (498,100)
(122,855) 192,094 2,100,255 1,705,167 1,790,664 2,087,176
20,995,057$ 22,035,895$ 24,876,288$ 25,339,383$ 25,832,001$ 27,081,423$
(5,494,234)$ (8,069,673)$ (5,841,978)$ (8,771,742)$ (7,872,522)$ (8,979,386)$
(3,178,381) (1,450,079) 3,663,476 (166,771) (315,293) 335,662
(8,672,615)$ (9,519,752)$ (2,178,502)$ (8,938,513)$ (8,187,815)$ (8,643,724)$
- 117 -
Fiscal Year 2007 2008 2009 2010
GENERAL FUND
Reserved 2,295,307$ 1,871,440$ 1,245,401$ 1,259,966$
Unreserved - designated 20,000 20,000 20,000 638,341
Unreserved - undesignated 8,254,465 6,464,292 2,646,908 2,964,485
Nonspendable for
Advances - - - -
Long-term receivables - - - -
Prepaid items - - - -
Restricted
Retirement obligations - - - -
Public safety - - - -
Unrestricted
Assigned for bridge construction - - - -
Assigned for insurance - - - -
Unassigned - - - -
TOTAL GENERAL FUND 10,569,772$ 8,355,732$ 3,912,309$ 4,862,792$
ALL OTHER GOVERNMENTAL FUNDS
Reserved 1,184,780$ 1,673,756$ 663,770$ 646,481$
Unreserved, reported in
Capital Projects Fund (12,391,564) (6,651,613) (11,422,543) (12,268,499)
Special Revenue Fund (244,644) (33,699) 375,736 713,258
Restricted for
Street maintenance - - - -
Public safety - - - -
Audit - - - -
Liability insurance - - - -
Economic development - - - -
Unrestricted
Assigned for debt service - - - -
Assigned for capital projects - - - -
Unassigned - - - -
TOTAL ALL OTHER
GOVERNMENTAL FUNDS (11,451,428)$ (5,011,556)$ (10,383,037)$ (10,908,760)$
TOTAL FUND BALANCES (881,656)$ 3,344,176$ (6,470,728)$ (6,045,968)$
Note: The Village implemented GASB Statement No. 54 for the fiscal year ended April 30, 2012.
Data Source
Audited Financial Statements
VILLAGE OF PLAINFIELD, ILLINOIS
FUND BALANCES OF GOVERNMENTAL FUNDS
Last Ten Fiscal Years
- 118 -
2011 2012 2013 2014 2015 2016
3,393,753$ -$ -$ -$ -$ -$
750,040 - - - - -
4,151,179 - - - - -
- 1,193,937 1,153,506 - - -
- 909,968 705,953 687,538 669,986 363,498
- 123,321 133,497 133,536 135,867 142,187
- - - - - 16,709
- - - - - 471,209
- 20,000 - - - -
- 845,155 1,006,427 1,065,860 1,158,291 1,127,527
- 6,814,424 9,658,183 9,841,030 8,322,103 8,485,950
8,294,972$ 9,906,805$ 12,657,566$ 11,727,964$ 10,286,247$ 10,607,080$
679,852$ -$ -$ -$ -$ -$
(10,889,373) - - - - -
1,174,378 - - - - -
- 1,115,600 1,509,744 1,915,321 2,690,722 2,819,181
- 42,389 40,585 42,443 32,058 40,651
- 4,106 5,360 3,511 3,970 6,161
- 310,733 219,288 86,172 70,626 21,126
- 785,584 1,099,275 959,200 986,104 885,266
- 1,347 881 918 1,700 2,133
- - - 405,138 5,447,573 8,837,434
- (7,414,412) (4,328,519) - - -
(9,035,143)$ (5,154,653)$ (1,453,386)$ 3,412,703$ 9,232,753$ 12,611,952$
(740,171)$ 4,752,152$ 11,204,180$ 15,140,667$ 19,519,000$ 23,219,032$
- 119 -
Fiscal Year 2007 2008 2009 2010
REVENUES
Taxes 11,650,706$ 14,090,310$ 16,924,117$ 16,775,978$
Licenses and permits 3,907,256 1,925,273 806,101 495,063
Intergovernmental 3,168,367 5,706,300 6,562,532 3,359,417
Charges for services 4,415,913 3,859,980 3,920,150 4,712,486
Fines and forfeits 689,983 660,012 1,031,539 1,103,323
Investment income 860,745 706,248 138,961 15,166
Miscellaneous 151,762 2,401,330 623,400 356,964
Total revenues 24,844,732 29,349,453 30,006,800 26,818,397
EXPENDITURES
General government 4,385,921 4,828,113 4,643,073 3,133,119
Public safety 8,732,808 10,157,951 10,725,530 10,303,037
Highways and streets 5,786,313 7,140,202 6,180,682 6,432,461
Capital outlay 22,101,363 17,410,044 15,730,443 3,947,891
Debt service
Principal 960,000 995,000 1,525,000 1,580,000
Interest and fiscal charges 1,046,139 1,330,115 1,694,045 1,655,506
Total expenditures 43,012,544 41,861,425 40,498,773 27,052,014
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES (18,167,812) (12,511,972) (10,491,973) (233,617)
OTHER FINANCING SOURCES (USES)
Transfers in 5,610,371 2,579,858 4,918,446 3,659,728
Transfers (out)(3,410,100) (1,352,344) (4,392,201) (3,134,958)
Refunding bonds issued - - - 865,000
Premium (discount) on refunding bonds - - - 37,806
Bonds issued - 15,135,000 - -
Premium (discount) on bonds issued - 364,920 - -
Payment to escrow agent - - - (883,953)
Installment notes issued 111,541 - 150,824 114,754
Sale of capital assets 13,983 10,370 - -
Total other financing sources (uses)2,325,795 16,737,804 677,069 658,377
NET CHANGE IN FUND BALANCES (15,842,017)$ 4,225,832$ (9,814,904)$ 424,760$
DEBT SERVICE AS A PERCENTAGE
OF NONCAPITAL EXPENDITURES 9.59%9.51%13.00%14.00%
*Beginning in fiscal year 2015, state sales tax, use tax, and income tax are reported as intergovernmental revenue.
Data Source
Audited Financial Statements
VILLAGE OF PLAINFIELD, ILLINOIS
CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS
Last Ten Fiscal Years
- 120 -
2011 2012 2013 2014 2015*2016
17,533,217$ 18,150,775$ 19,207,009$ 19,853,191$ 10,647,752$ 10,941,684$
497,966 611,529 735,905 862,916 976,464 1,177,055
5,507,812 5,340,409 5,298,633 4,661,759 14,308,398 14,596,272
4,152,165 4,380,366 4,822,592 4,887,938 4,932,519 5,100,794
1,329,951 1,325,854 1,169,501 1,122,269 1,094,229 907,956
8,190 6,770 20,956 27,857 (120,582) 53,007
385,686 479,606 334,334 212,015 342,080 554,657
29,414,987 30,295,309 31,588,930 31,627,945 32,180,860 33,331,425
2,401,600 3,477,890 3,141,185 4,029,639 3,677,375 3,966,293
10,100,410 10,654,797 10,686,447 10,746,430 11,266,927 11,453,755
6,388,974 6,431,829 6,623,648 7,404,103 7,197,622 7,809,942
2,786,336 1,950,478 2,042,968 2,870,609 3,048,345 3,897,730
1,580,000 1,720,000 1,915,000 1,945,000 2,085,000 2,215,000
1,485,744 1,581,506 1,221,304 1,191,213 1,138,302 890,875
24,743,064 25,816,500 25,630,552 28,186,994 28,413,571 30,233,595
4,671,923 4,478,809 5,958,378 3,440,951 3,767,289 3,097,830
3,610,948 3,096,035 3,102,780 6,094,911 6,845,397 5,939,207
(3,082,828) (2,579,659) (2,609,130) (5,604,163) (6,355,545) (5,441,107)
9,280,000 6,820,000 - - 9,665,000 -
564,424 532,928 - - 331,514 -
- - - - - -
- - - - - -
(9,913,670) (7,251,451) - - (9,875,322) -
- - - - - -
175,000 395,661 - 4,788 - 104,102
633,874 1,013,514 493,650 495,536 611,044 602,202
5,305,797$ 5,492,323$ 6,452,028$ 3,936,487$ 4,378,333$ 3,700,032$
13.96%13.03%12.94%11.53%11.78%10.79%
- 121 -
ASSESSED VALUE AND ACTUAL VALUE OF TAXABLE PROPERTY
Last Ten Levy Years
Total Taxable Total Estimated Estimated
Levy Residential Commercial Industrial Farm Railroad Equalized Direct Tax Actual Taxable Actual Taxable
Year Property Property Property Property Property Assessed Value Rate Value Value
2006 1,000,246,941$ 92,344,265$ 22,733,905$ 1,608,459$ 20,396$ 1,116,953,966$ 0.4096 3,350,861,898$ 33.333%
2007 1,160,519,642 110,300,216 23,447,686 5,546,255 27,716 1,299,841,515 0.4075 3,899,524,545 33.333%
2008 1,223,281,087 129,411,871 25,514,981 3,143,177 36,924 1,381,388,040 0.4079 4,144,164,120 33.333%
2009 1,229,229,102 140,306,598 27,907,094 3,613,294 42,287 1,401,098,375 0.4079 4,203,295,125 33.333%
2010 1,152,059,670 143,199,078 20,391,687 3,034,973 211,437 1,318,896,845 0.4079 3,956,690,535 33.333%
2011 1,074,299,342 147,453,901 20,061,439 2,975,154 193,049 1,244,982,885 0.4297 3,734,948,655 33.333%
2012 1,018,036,579 136,459,597 20,522,201 3,436,478 155,202 1,178,610,057 0.4567 3,535,830,171 33.333%
2013 992,808,661 133,086,233 20,156,072 3,351,502 344,192 1,149,746,660 0.4669 3,449,239,980 33.333%
2014 1,001,328,597 147,923,967 19,980,960 3,691,038 403,047 1,173,327,609 0.4669 3,519,982,827 33.333%
2015 1,047,526,457 139,342,944 20,657,279 3,905,874 486,066 1,211,918,620 0.4669 3,635,755,860 33.333%
Note: Property in the Village is reassessed each year. Property is assessed at 33% of estimated actual value.
Data Sources
Office of the County Clerk - Will County, Illinois
Office of the County Clerk - Kendall County, Illinois
VILLAGE OF PLAINFIELD, ILLINOIS
- 122 -
PROPERTY TAX RATES - DIRECT AND OVERLAPPING GOVERNMENTS
Last Ten Levy Years
Levy Year 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
DIRECT TAX RATES
General 0.1780 0.1690 0.1663 0.2053 0.2012 0.2032 0.2158 0.2210 0.2099 0.1974
Debt Service 0.0106 0.0094 0.0084 0.0024 0.0086 0.0090 0.0098 0.0098 0.0098 0.0097
Police Pension 0.0805 0.0761 0.0724 0.0503 0.0682 0.0721 0.0767 0.0783 0.0811 0.0911
IMRF 0.0336 0.0375 0.0419 0.0413 0.0436 0.0461 0.0490 0.0500 0.0492 0.0476
Police protection 0.0257 0.0383 0.0449 0.0575 0.0607 0.0641 0.0682 0.0696 0.0683 0.0662
Audit 0.0032 0.0024 0.0016 0.0008 0.0029 0.0031 0.0030 0.0034 0.0033 0.0035
Liability insurance 0.0760 0.0768 0.0724 0.0503 0.0227 0.0321 0.0342 0.0348 0.0453 0.0514
Total direct rates 0.4076 0.4095 0.4079 0.4079 0.4079 0.4297 0.4567 0.4669 0.4669 0.4669
OVERLAPPING TAX RATES
Will County Including Forest Preserve 0.6523 0.6367 0.6387 0.6543 0.6841 0.7244 0.7244 0.8186 0.8410 0.8295
Plainfield CUSD #202 4.5950 4.5134 4.5270 4.5876 4.8618 5.2705 5.8323 6.2265 6.2622 6.2410
Joliet Jr. Community College #525 0.1936 0.1901 0.1896 0.2144 0.2270 0.2463 0.2768 0.2955 0.3085 0.3065
Plainfield Township Park District 0.1788 0.1742 0.1761 0.1740 0.1959 0.2126 0.2433 0.2535 0.2742 0.2692
Plainfield Public Library District 0.1770 0.1687 0.1676 0.1421 0.1573 0.1720 0.1894 0.2013 0.2057 0.2021
Plainfield Fire Protection District 0.7431 0.7787 0.8323 0.8419 0.8656 0.8872 0.9216 0.9970 1.0122 1.0036
Township and all other 0.1502 0.1471 0.1469 0.1483 0.1653 0.1804 0.1960 0.2106 0.2125 0.2091
Total overlapping rates 6.6900 6.6089 6.6782 6.7626 7.1570 7.6934 8.3838 9.0030 9.1163 9.0610
TOTAL TAX RATES 7.0976 7.0184 7.0861 7.1705 7.5649 8.1231 8.8405 9.4699 9.5832 9.5279
Property tax rates are per $100 of assessed valuation.
Data Source
Office of the County Clerk - Will County, Illinois
VILLAGE OF PLAINFIELD, ILLINOIS
- 123 -
Percentage Percentage
of Total of Total
2015 Taxable Village 2006 Taxable Village
Equalized Taxable Equalized Equalized
Assessed Assessed Assessed Assessed
Taxpayer Business/Properties Value Rank Valuation Value Rank Valuation
JVM Plainfield Apartments LLC Springs at 127th 11,332,200$ 1 1.00%
Diageo North America**Manufacturer of liquors 7,908,293 2 0.70%
Wal-Mart Stores Inc.Discount department store 5,999,400 3 0.53%
Meijer Retail and grocery store 4,217,433 4 0.37%
Edward Health Ventures Healthcare 4,075,480 5 0.36%
Target Discount department store 3,578,331 6 0.32%
Coilplus Illinois Inc.Flat rolled steel processing 2,713,649 7 0.24%
SHI II American House Senior care facility 2,700,000 8 0.24%
Logoplaste Chicago LLC (Jin Edmund)Plastic packaging company 2,640,000 9 0.23%
Menard's Inc.Home improvement center 2,634,616 10 0.23%
United Distiller Manufacturer Manufacturer of liquors 10,725,536$ 1 0.83%
Wal-Mart Stores Inc.Discount department store 6,347,243 2 0.49%
Menard's Inc.Home improvement center 6,204,715 3 0.48%
Target Discount department store 3,812,508 4 0.29%
Plainfield 1031 LLC Kohl's Department Store 3,566,435 5 0.27%
Chicago Bridge & Iron Co Engineering & technical center 2,785,300 6 0.21%
American Publishing Co. Arkansas Newspaper publisher 2,301,087 7 0.18%
Coilplus Illinois Inc.Flat rolled steel processing 2,163,172 8 0.17%
American Stores Properties Inc.Jewel-Osco food/drug store 2,073,176 9 0.16%
Mars-Kensington North LLC Land development 1,884,543 10 0.14%
TOTAL 47,799,402$ 4.22%41,863,715$ 3.22%
** Formerly called United Distillers Manufacturing Inc.
Data Source
Will County Clerk's Office
Because of the Village’s small valuation in Kendall County, only Will County information was used in this statement.
Reasonable efforts have been made to determine and report the largest taxpayers and to includeall taxable propertyof those taxpayers listed.Many of the taxpayers
listed however, may own multiple parcels, and it is possible that some parcels and their valuations have been overlooked.
VILLAGE OF PLAINFIELD, ILLINOIS
2016 2007
PRINCIPAL PROPERTY TAXPAYERS
Current Year and Nine Years Ago
- 124 -
Levy Collection Fiscal Percentage Collections in Total Collections Total Collections
Year Year Year Tax Levied Amount of Levy Subsequent Years To Date To Date
2005 2006 2007 3,654,262$ 3,649,864$ 99.88%N/A 3,649,864$ 99.88%
2006 2007 2008 4,423,287 4,418,221 99.89%N/A 4,418,221 99.89%
2007 2008 2009 5,084,818 5,058,460 99.48%N/A 5,058,460 99.48%
2008 2009 2010 5,361,674 5,352,303 99.83%N/A 5,352,303 99.83%
2009 2010 2011 5,407,741 5,399,892 99.85%N/A 5,399,892 99.85%
2010 2011 2012 5,069,976 5,054,072 99.69%N/A 5,054,072 99.69%
2011 2012 2013 5,366,861 5,294,951 98.66%N/A 5,294,951 98.66%
2012 2013 2014 5,370,957 5,279,123 98.29%N/A 5,279,123 98.29%
2013 2014 2015 5,368,140 5,355,819 99.77%N/A 5,355,819 99.77%
2014 2015 2016 5,478,241 5,462,475 99.71%N/A 5,462,475 99.71%
Note: Levies and collections for tax levy years 2005 - 2010 include Will County only.
N/A - Information not available
Data Sources
Office of the County Clerk - Will County, Illinois
Office of the County Clerk - Kendall County, Illinois
Total Collections within the
Levy Year
VILLAGE OF PLAINFIELD, ILLINOIS
PROPERTY TAX LEVIES AND COLLECTIONS
Last Ten Levy Years
- 125 -
VILLAGE OF PLAINFIELD, ILLINOIS
PROPERTY TAX ASSESSED VALUATIONS, RATES, AND TAX EXTENSIONS
Last Ten Levy Years
Tax Levy Year 2006 2007 2008 2009 2010
ASSESSED VALUATION 1,116,953,966$ 1,299,841,515$ 1,381,388,040$ 1,401,098,375$ 1,318,896,845$
Rate Amount Rate Amount Rate Amount Rate Amount Rate Amount
TAX EXTENSIONS
General 0.1780 1,988,272$ 0.1690 2,196,847$ 0.1663 2,297,916$ 0.2067 2,877,525$ 0.2012 2,643,631$
Debt Service 0.0106 118,398 0.0094 122,069 0.0084 116,037 0.0024 33,611 0.0086 113,418
Police Pension 0.0805 899,180 0.0761 989,005 0.0724 999,924 0.0500 704,504 0.0682 899,517
IMRF 0.0336 375,296 0.0375 487,382 0.0419 578,668 0.0410 578,458 0.0436 573,793
Police protection 0.0257 287,057 0.0383 497,723 0.0449 620,110 0.0571 805,330 0.0607 799,295
Audit 0.0032 35,743 0.0004 31,196 0.0016 22,102 0.0007 11,148 0.0029 38,241
Liability insurance 0.0760 848,916 0.0768 998,162 0.0724 999,924 0.0500 704,504 0.0227 299,426
TOTAL TAX EXTENSIONS 0.4076 4,552,862$ 0.4075 5,322,384$ 0.4079 5,634,681$ 0.4079 5,715,080$ 0.4079 5,367,321$
- 126 -
VILLAGE OF PLAINFIELD, ILLINOIS
PROPERTY TAX ASSESSED VALUATIONS, RATES, AND TAX EXTENSIONS (Continued)
Last Ten Levy Years
Tax Levy Year 2011 2012 2013 2014 2015
ASSESSED VALUATION 1,244,982,885$ 1,178,610,057$ 1,149,746,660$ 1,173,327,609$ 1,211,918,620$
Rate Amount Rate Amount Rate Amount Rate Amount Rate Amount
TAX EXTENSIONS
General 0.2032 2,529,533$ 0.2158 2,543,386$ 0.2210 2,541,014$ 0.2099 2,463,239$ 0.1974 2,393,149$
Debt Service 0.0090 112,021 0.0098 115,469 0.0098 112,648 0.0098 114,957 0.0097 117,462
Police Pension 0.0721 897,766 0.0767 903,769 0.0783 900,238 0.0811 951,470 0.0911 1,103,800
IMRF 0.0461 574,000 0.0490 577,376 0.0500 574,887 0.0492 577,137 0.0476 576,756
Police protection 0.0641 798,146 0.0682 803,595 0.0696 800,217 0.0683 801,299 0.0662 802,149
Audit 0.0031 38,567 0.0030 35,338 0.0034 39,030 0.0033 38,713 0.0035 42,394
Liability insurance 0.0321 399,660 0.0342 402,909 0.0348 400,106 0.0453 531,426 0.0514 622,738
TOTAL TAX EXTENSIONS 0.4297 5,349,693$ 0.4567 5,381,842$ 0.4669 5,368,140$ 0.4669 5,478,241$ 0.4669 5,658,448$
- 127 -
SALES TAX BY CATEGORY
Last Ten Calendar Years
Calendar Year 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
General merchandise 881,784$ 1,098,039$ 1,727,764$ 1,619,652$ 1,704,879$ 1,422,877$ 1,888,789$ 2,014,318$ 2,957,023$ 2,923,484$
Food 468,080 451,667 552,145 530,171 469,346 447,894 377,464 405,981 619,855 920,851
Drinking and eating places 415,507 471,211 888,391 904,118 942,498 1,038,892 1,259,374 1,481,747 1,547,675 1,656,683
Apparel 33,456 54,211 93,359 104,996 120,139 347,612 127,335 121,980 87,001 139,606
Furniture, H.H., and radio 93,920 94,275 180,611 142,158 145,517 141,098 157,320 125,553 133,673 147,176
Lumber, building hardware 366,378 346,983 508,908 547,665 535,803 552,466 675,008 812,648 888,333 938,009
Automobile and filling stations 1,230,365 1,229,324 1,571,228 1,355,716 1,443,543 1,867,893 2,364,926 2,738,000 1,593,137 1,511,396
Drugs and miscellaneous retail 395,533 403,483 850,917 889,549 959,238 1,036,231 1,384,198 1,564,115 1,588,279 919,458
Agriculture and all others 194,701 258,183 442,817 480,942 465,556 468,099 291,404 300,709 376,539 877,983
Manufacturers 103,018 188,803 265,863 208,888 184,640 64,035 82,726 125,084 150,191 140,846
TOTAL 4,182,742$ 4,596,179$ 7,082,003$ 6,783,855$ 6,971,159$ 7,387,097$ 8,608,544$ 9,690,135$ 9,941,706$ 10,175,492$
Village direct sales tax rate 1.00%1.00%1.00%1.00%1.00%1.00%1.00%1.00%1.00%1.00%
Village home rule sales tax rate*0.00%0.00%1.00%1.00%1.00%1.00%1.50%1.50%1.50%1.50%
*1% effective January 1, 2008; 1.5% effective July 1, 2012.
Data Source
Illinois Department of Revenue - Will County only
VILLAGE OF PLAINFIELD, ILLINOIS
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DIRECT AND OVERLAPPING SALES TAX RATES
Last Ten Calendar Years
Village Village
Calendar Direct Home Rule Will County RTA State Total
Year Rate Rate Rate Rate Rate Rate
2006 1.00%0.00%0.25%0.25%5.00%6.50%
2007 1.00%0.00%0.25%0.25%5.00%6.50%
2008 1.00%1.00%0.25%0.75%5.00%8.00%
2009 1.00%1.00%0.25%0.75%5.00%8.00%
2010 1.00%1.00%0.25%0.75%5.00%8.00%
2011 1.00%1.00%0.25%0.75%5.00%8.00%
2012 1.00%1.50%0.25%0.75%5.00%8.50%
2013 1.00%1.50%0.25%0.75%5.00%8.50%
2014 1.00%1.50%0.25%0.75%5.00%8.50%
2015 1.00%1.50%0.25%0.75%5.00%8.50%
Note: The home rule sales tax rate increases for the Village were effective January 1, 2008 and July 1, 2012.
The tax rate for the Regional Transit Authority increased effective April 1, 2008.
Data Source
Village and Illinois Department of Revenue
VILLAGE OF PLAINFIELD, ILLINOIS
- 129 -
RATIOS OF OUTSTANDING DEBT BY TYPE
Last Ten Fiscal Years
Percentage
Fiscal General Installment General Illinois Total of
Year Obligation Notes Obligation Revenue EPA Primary Personal Per
Ended Bonds Payable Bonds Bonds Loan Government Income*Capita*
2007 23,635,000$ 154,494$ 18,980,000$ -$ -$ 42,769,494$ 3.00%1,146$
2008 37,775,000 37,133 17,885,000 - - 55,697,133 5.00%1,492
2009 36,250,000 97,859 16,740,000 16,385,000 - 69,472,859 6.00%1,861
2010 34,655,000 12,398 15,530,000 16,385,000 - 66,582,398 5.00%1,682
2011 32,980,000 -14,265,000 16,030,000 1,710,999 64,985,999 5.00%1,642
2012 31,845,000 -12,945,000 15,665,000 3,273,202 63,728,202 5.00%1,610
2013 29,930,000 -11,575,000 15,285,000 3,093,385 59,883,385 4.11%1,433
2014 27,985,000 -9,735,000 14,885,000 2,946,902 55,551,902 3.66%1,318
2015 28,162,546 -8,816,853 16,449,941 2,795,259 56,224,599 N/A 1,322
2016 25,895,431 -7,201,017 16,019,942 2,641,714 51,758,104 N/A N/A
Note: Details of the Village's outstanding debt can be found in the notes to financial statements.
*See the schedule of Demographic and Economic Statistics for personal income and population data.
N/A - information not available
Data Source
Audited Financial Statements
Activities
Business-Type
Activities
VILLAGE OF PLAINFIELD, ILLINOIS
Governmental
- 130 -
RATIOS OF GENERAL BONDED DEBT OUTSTANDING
Last Ten Fiscal Years
Percentage of
Less Amounts Equalized
General Available Assessed
Fiscal Obligation In Debt Value of Per
Year Bonds Service Fund Total Property*Capita
2007 23,635,000$ 278,330$ 23,356,670$ 1.80%626$
2008 37,775,000 973,679 36,801,321 2.66%986
2009 36,250,000 - 36,249,887 2.59%971
2010 34,655,000 - 34,654,887 2.63%876
2011 32,980,000 - 32,979,882 2.65%833
2012 31,845,000 - 31,843,653 2.70%805
2013 29,930,000 - 29,929,119 2.60%756
2014 27,985,000 - 27,984,082 2.43%707
2015 36,979,399 - 36,979,399 3.15%870
2016*33,096,448 - 33,096,448 2.73%N/A
*2015 EAV used as it is the most recent data available.
N/A - information not available
VILLAGE OF PLAINFIELD, ILLINOIS
- 131 -
DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT
Percentage Village's
Gross Debt Applicable Share
Governmental Unit Debt to the Village*of Debt
Village of Plainfield 25,895,431$ 100.000%25,895,431$
Will County including Forest Preserve District 125,014,710 (1)(2)6.163%7,704,657
Kendall County including Forest Preserve District 44,630,000 (2)2.968%1,324,618
Plainfield Fire Protection District - (2)78.279%-
Oswegoland Park District 9,740,000 8.142%793,031
Plainfield Park District 3,569,000 46.471%1,658,550
Oswego Public Library District 7,270,000 7.576%550,775
Plainfield CUSD #202 263,745,000 (3)36.533%96,353,961
Indian Prairie Unit School District #204 229,765,000 (3)0.613%1,408,459
Oswego Unit School District #308 332,118,255 (1)(2)6.651%22,089,185
DuPage Community College #502 208,870,000 (2)0.071%148,298
Waubonsee Community College #516 67,145,000 1.397%938,016
Joliet Jr. Community College #525 79,505,000 (2)5.965%4,742,473
Total Overlapping Debt 1,371,371,965 137,712,023
1,397,267,396$ 163,607,454$
(1) Includes original principal amounts of outstanding General Obligation Capital Appreciation Bonds.
(3) Excludes outstanding debt certificates.
Data Source
The Village, Will and Kendall County Clerk's Offices
VILLAGE OF PLAINFIELD, ILLINOIS
April 30, 2016
* The percentage of overlapping debt applicable is estimated using taxable assessed property values. Applicable
(2)Excludes principal amounts of outstanding General Obligation Alternate Revenue Source Bonds which are
expected to be paid from sources other than general taxation.
- 132 -
PLEDGED-REVENUE COVERAGE
WATER REVENUE BONDS
Last Ten Fiscal Years
Water
Fiscal Charges Debt Service
Year and Other Principal Interest Coverage
2007 9,333,222$ -$ -$ -$
2008 10,359,459 - - -
2009 9,317,371 - - -
2010 9,510,526 - 812,199 11.71
2011 10,135,734 355,000 845,026 8.45
2012 11,482,986 365,000 829,960 9.61
2013 14,066,990 380,000 814,366 11.78
2014 13,361,542 400,000 797,785 11.16
2015 13,407,793 415,000 893,871 10.24
2016 14,224,684 430,000 514,054 15.07
Data Source
Audited financial statements
Note:Details of the Village's outstanding debt can be found in the notes to financial
statements.
VILLAGE OF PLAINFIELD, ILLINOIS
- 133 -
DEMOGRAPHIC AND ECONOMIC INFORMATION
Last Ten Fiscal Years
Per
Median Capita
Fiscal Household Personal Personal Unemployment
Year Population Income Income Income Rate
2007 37,334 101,958$ 1,233,067,352$ 33,028$ 4.0%
2008 37,334 100,566 1,210,965,624 32,436 5.3%
2009 37,334 102,863 1,202,826,812 32,218 9.1%
2010 39,581 105,897 1,309,814,452 33,092 9.7%
2011 39,581 108,239 1,361,665,562 34,402 9.3%
2012 39,581 111,637 1,397,684,272 35,312 8.2%
2013 *41,784 108,928 1,456,005,264 34,846 8.2%
2014 *42,138 111,536 1,517,262,966 36,007 6.6%
2015 *42,527 N/A N/A N/A 5.3%
2016 N/A N/A N/A N/A 4.8%
N/A - information not available
Data Sources
Household and per capita income:
US Census Bureau - 2010 census data
*Census.gov estimate
US Census Bureau - American Fact Finder
2005-2007 American Community Survey 3-Yr Estimates
2006-2008 American Community Survey 3-Yr Estimates
2005-2009 American Community Survey 5-Yr Estimates
2006-2010 American Community Survey 5-Yr Estimates
2007-2011 American Community Survey 5-Yr Estimates
2008-2012 American Community Survey 5-Yr Estimates
2009-2013 American Community Survey 5-Yr Estimates
2010-2014 American Community Survey 5-Yr Estimates
Unemployment Rate:
Illinois Department of Employment Security (2016 through May - not seasonally adj.)
VILLAGE OF PLAINFIELD, ILLINOIS
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PRINCIPAL EMPLOYERS
Current Year and Nine Years Ago
Percent Percent
of Total of Total
No. of Village No. of Village
Employer Rank Employees Population Employer Rank Employees Population
Plainfield CUSD #202 1 3,100 7.83%Plainfield CUSD #202 1 3,000 8.04%
Diageo North America, Inc.2 600 1.52%Wal-Mart 2 555 1.49%
Chicago Bridge & Iron Co.3 400 1.01%Chicago Bridge & Iron Co.3 550 1.47%
Wal-Mart 4 265 0.67%Diageo North America 4 300 0.80%
Jewel-Osco 5 245 0.62%Plainfield Stamping & Molding Co.5 214 0.57%
Lakewood Nursing and Rehab Center 6 168 0.42%Flexi-Mat Corp.6 210 0.56%
Village of Plainfield 7 136 0.34%R.A. Bright Construction, Inc.7 200 0.54%
Menards, Inc.8 125 0.32%Fox Valley Press 8 175 0.47%
Meijer 9 120 0.30%Plainfield Tool & Engineering 9 170 0.46%
Target 10 95 0.24%Phoenix Technical Services 10 125 0.33%
Population Population
39,581 37,334
Note: May include both full-time and full-time equivalent employees.
Data Source
From a canvass of employers, IL Services and Manufacturers Directory
VILLAGE OF PLAINFIELD, ILLINOIS
20072016
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FULL-TIME EQUIVALENT EMPLOYEES
Last Ten Fiscal Years
Function/Program 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Administration/Finance 16.00 17.50 15.50 14.50 14.50 14.50 15.00 14.50 15.50 16.00
Police Department 79.00 83.00 85.00 77.00 73.50 75.50 75.50 76.50 76.50 77.50
Streets Department 20.50 23.50 23.50 19.50 17.00 17.50 18.50 18.50 18.50 18.50
Community Development 25.00 25.00 13.50 7.00 7.50 7.50 8.00 8.00 8.00 9.50
Water and Sewer Department 19.30 15.00 14.50 12.00 11.50 12.50 11.50 11.50 11.50 11.50
Public Works Engineering 4.00 4.00 4.00 3.00 2.00 3.00 3.00 3.00 3.00 3.00
TOTAL 163.80 168.00 156.00 133.00 126.00 130.50 131.50 132.00 133.00 136.00
Data Source
Village Human Resources Department
VILLAGE OF PLAINFIELD, ILLINOIS
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Last Ten Calendar Years
Function/Program 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
PUBLIC SAFETY
Police
Calls for service 37,592 38,654 42,707 39,228 41,048 40,490 37,529 34,570 33,252 34,031
Total traffic citations - 8,780 12,827 12,455 12,125 14,037 11,086 9,819 7,951 6,974
Total DUI arrests - 159 141 187 154 104 119 107 89 69
Total crashes - 1,100 998 984 1,109 980 1,010 1,121 1,200 1,272
D.A.R.E Program student attendance - 900 1,050 1,100 1,100 1,150 1,200 4,544 1,200 1,631
BUILDING PERMITS ISSUED
New residential units 998 404 172 66 58 88 111 135 166 138
General construction inspections 22,028 14,092 8,890 5,335 4,300 4,884 6,619 8,016 6,367 7,801
Commercial/office/industrial added (sq ft.)346,415 349,523 284,015 24,659 172,926 90,770 71,414 194,250 0 59,399
Acreage Annexed 380 1472 496 24 5.4 2.1 277 6 87 177
BUILDING PERMIT REVENUE
(*fiscal year)6,351,259$ 3,308,750$ 1,334,936$ 592,852$ 294,862$ 275,144$ 447,103$ 561,591$ 677,304$ 983,448$
PUBLIC WORKS
Asphalt patching/pothole repairs (tons)- 960.00 482 292 285 195 136 109 104 72
Shoulder stone repaired (tons)- 928.00 172 430 464 843 1,173 824 945 390
Snow removal events - 45.00 57 45 29 20 12 26 27 23
Street sweeping (lane miles)- 1,199.00 1,357 1,976 1,760 1,627 1,958 1,635 1,334 1,398
Grounds maintenance and mowing (hours)- 1,946.00 1,829 2,070 1,974 2,280 1,709 1,904 1,552 1,674
UTILITY BILLING (*fiscal year)
Number of metered accounts 123,398 139,092 146,812 149,687 149,687 148,031 151,816 153,205 154,914 156,826
Water consumption billed (cubic feet)
Residential - - - 116,145,176 110,246,350 111,002,800 123,367,085 123,441,600 125,383,157 115,777,283
Commercial - - - 16,569,010 17,304,912 20,570,922 16,671,638 22,609,487 13,257,815 13,161,991
Industrial - - - 17,298,465 17,259,429 13,933,361 14,311,880 17,775,104 19,647,597 18,882,494
WATER
Average daily flow (MGD)3.149 3.5 3.236 3.096 3.062 3.091 3.49 3.205 3.098 3.136
Peak daily flow (MGD)- 6.33 5.886 5.732 5.841 6.324 6.644 5.941 4.656 5.292
Water main breaks 7 7 6 6 4 5 2 1 6 4
Number of valves exercised 448 156 332 166 2061 28 19 513 1,096 441
VILLAGE OF PLAINFIELD, ILLINOIS
OPERATING INDICATORS
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Function/Program 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
WASTEWATER
Miles of sanitary sewer main 190 210 220 220 220 220 220 220 220 220
Average daily flow (MGD)2.879 3.202 3.302 3.746 3.55 3.964 3.21 4.441 4.663 4.460
Bio-solids treated (tons)- - 833 605 730 642 799 771 945 879
Sewers inspected/cleaned (feet)40,098 39,000 65,000 12,000 9,000 3,308 23,200 13,200 6,200 14,006
Data Sources
Various Village departments
Some statistics for previous years unavailable
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CAPITAL ASSET STATISTICS
Last Ten Fiscal Years
Function/Program 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
PUBLIC SAFETY
Police
Stations 1 1 1 1 1 1 1 1 1 1
Area patrols 4 4 6 6 6 6 6 6 6 6
Patrol units/shift 7 5 6 6 6 7 6 6 6 6
PUBLIC WORKS
Lane Miles of streets 390 400 400 410 410 410 410 410 410 410
Traffic signals 3 6 6 7 7 7 4 4 4 4
WATER
Water mains (miles)220 225 226 226 226 226 229 229 229 229
Storage capacity (gallons)9,200,000 9,200,000 9,200,000 9,200,000 9,200,000 9,200,000 9,200,000 9,200,000 9,200,000 9,200,000
WASTEWATER
Sanitary sewers (miles)210 220 220 220 220 220 220 220 220 220
Treatment capacity (gallons)4,300,000 4,300,000 4,300,000 7,500,000 7,500,000 7,500,000 7,500,000 7,500,000 7,500,000 7,500,000
Data Source
Various Village departments
VILLAGE OF PLAINFIELD, ILLINOIS
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