HomeMy Public PortalAboutFY 2018 - Comprehensive Annual Financial ReportVillage of Plainfield
24401 West Lockport Street | Plainfield, Illinois 60544
Comprehensive Annual
Financial Report
For the Fiscal Year Ended April 30, 2018
VILLAGE OF PLAINFIELD, ILLINOIS
COMPREHENSIVE ANNUAL
FINANCIAL REPORT
For the Year Ended
April 30, 2018
For the Year Ended April 30, 2018
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 1-12
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 ............................................................................. 20-58
Required Supplementary Information
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual - General Fund .............................................. 59
Schedule of Employer Contributions
Illinois Municipal Retirement Fund ................................................................... 60
Police Pension Fund ........................................................................................... 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 Changes in the Employer’s Total OPEB Liability
and Related Ratios
Other Postemployment Benefit Plan .................................................................. 64
Schedule of Investment Returns
Police Pension Fund ........................................................................................... 65
Notes to Required Supplementary Information .................................................. 66
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 .................................. 67-68
Schedule of Expenditures - Budget and Actual - General Fund ............................. 69-70
Schedule of Detailed Expenditures - Budget and Actual - General Fund .............. 71-81
Schedule of Revenues, Expenditures, and Changes
in Fund Balance - Budget and Actual
Capital Projects Fund.......................................................................................... 82
Debt Service Fund .......................................................................................... 83
NONMAJOR GOVERNMENTAL FUNDS
Combining Balance Sheet ................................................................................... 84-85
Combining Statement of Revenues, Expenditures, and
Changes in Fund Balances ................................................................................ 86-87
Schedule of Revenues, Expenditures, and Changes
in Fund Balance - Budget and Actual
Liability Insurance Fund ..................................................................................... 88
Audit Fund .......................................................................................................... 89
Alcohol Enforcement Fund ................................................................................ 90
Motor Fuel Tax Fund.......................................................................................... 91
D.A.R.E. Fund .................................................................................................... 92
Tax Increment Financing Fund .......................................................................... 93
MAJOR ENTERPRISE FUND
Water and Sewer Department Accounts
Combining Schedule of Net Position ................................................................. 94-95
Combining Schedule of Revenues, Expenses, and
Changes in Net Position ................................................................................... 96
Combining Schedule of Cash Flows .................................................................. 97-98
Schedule of Operating Expenses - Budget and Actual ...................................... 99-101
FIDUCIARY FUNDS
Schedule of Changes in Fiduciary Net Position -
Budget and Actual - Police Pension Fund ............................................................. 102
VILLAGE OF PLAINFIELD, ILLINOIS
TABLE OF CONTENTS (Continued)
Page(s)
FINANCIAL SECTION (Continued)
INDEPENDENT ACCOUNTANT’S REPORT ON MANAGEMENT’S
ASSERTION OF COMPLIANCE ................................................................................. 103
STATISTICAL SECTION
Financial Trends
Net Position by Component ......................................................................................... 104-105
Change in Net Position ................................................................................................. 106-109
Fund Balances of Governmental Funds ....................................................................... 110-111
Changes in Fund Balances of Governmental Funds .................................................... 112-113
Revenue Capacity
Assessed Value and Actual Value of Taxable Property .............................................. 114
Property Tax Rates - Direct and Overlapping Governments ....................................... 115
Principal Property Taxpayers ....................................................................................... 116
Property Tax Levies and Collections ........................................................................... 117
Property Tax Assessed Valuations, Rates, and Tax Extensions .................................. 118-119
Sales Tax by Category .................................................................................................. 120
Direct and Overlapping Sales Tax Rates ..................................................................... 121
Debt Capacity
Ratios of Outstanding Debt by Type ............................................................................ 122
Ratios of General Bonded Debt Outstanding ............................................................... 123
Direct and Overlapping Governmental Activities Debt ............................................... 124
Pledged-Revenue Coverage ......................................................................................... 125
Demographic and Economic Information
Demographic and Economic Information .................................................................... 126
Principal Employers ..................................................................................................... 127
Operating Information
Full-Time Equivalent Employees................................................................................. 128
Operating Indicators ..................................................................................................... 129-130
Capital Asset Statistics ................................................................................................. 131
INTRODUCTORY SECTION
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VILLAGE OFFICIALS
PRESIDENT
Michael P. Collins
TRUSTEES
Margie Bonuchi
Cally Larson
Bill Lamb Larry Newton
Edward O’Rourke
Brian Wojowski
Brian P. Murphy
Village Administrator
Allen Persons Public Works Director
Traci Pleckham
Management Services Director
Jon Proulx
Planning Director
John Konopek
Police Chief
Ken Goska
Building Official
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
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- 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 140 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 remained stable in its economic indicators last year, especially in retail sales. Overall, retail sales
improved by 5.4% in comparison to the previous fiscal year. Housing development also remained steady in
2018. During the fiscal year, 163 single family building permits were issued for new construction within the
Village. During fiscal year 2017, 134 single family building permits were issued and 151 were issued in 2016.
Building permit revenues represented 3.4% of the General Fund revenue for fiscal year 2018 compared to 4.0%
in fiscal year 2017.
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 2018 reflected a $532,831 transfer from the Village’s General Fund to the Capital Fund,
resulting in an ending fund balance of just over $14.8 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.
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.”
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Transportation & Infrastructure Projects
A key component of the Village’s Strategic Plan is transportation and infrastructure improvements in the
community and with our strategic partnerships, we were able to make significant progress on several
important projects this year.
• We were thrilled to work with Pace Suburban Bus to construct a new Plainfield Park-n-Ride on Depot
Drive. The $5.8 million project, wholly funded by Pace, provides the community with a 600-space
parking lot, restroom/shelter, and canopies. This facility is a tremendous asset to the community and
helps to further our goal of improving public transportation options in the community.
• The Village Board also approved the Village’s first public-private partnership this year. In partnership
with Northern Illinois Builders, we will develop the Depot Drive property and our future Plainfield
Emergency Management Agency (PEMA) facility.
• Our work on the Phase II design of the 143rd Street extension continues to move forward and we are
pleased that we received a $20 million grant from the federal government toward the construction of
the roadway.
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, 2017. This was the fourth 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
1415 West Diehl Road, Suite 400
Naperville, IL 60563
630.566.8400
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, 2018, 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.
- 1 -
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis
for our audit opinions.
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, 2018, 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
The Village adopted GASB Statement No. 75, Accounting and Financial Reporting for
Postemployment Benefits Other Than Pensions, which established standards for measuring and
recognizing liabilities, deferred inflows and outflows of resources and expenses; and modified
certain disclosures in the notes to financial statements and the required supplementary information
as discussed in Note 14 to the basic financial statements. 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.
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
- 2 -
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
August 31, 2018
- 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, 2018
_____________________________________________________________________________________________
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, 2018. 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 implemented GASB Statement No. 75, which requires the Village to retroactively record the total
postemployment benefit liability and write-off the net Other Post Employment Benefit (OPEB) obligation. The
Governmental Activities recognized a decrease in beginning net position of $1,028,907 and the Business-Type
activities recognized a decrease of $51,718 in beginning net position. These changes are reported as a restatement
of the Village’s May 1, 2017 net position (page 7).
• The Village’s total net position as of April 30, 2018 equaled $321,519,888, a decrease of $5,640,509 or 1.7% over
the April 30, 2017 net position. Governmental Activities recognized a decrease in net position of $7,052,915. The
Business-Type activities recognized an increase of $1,412,406 in net position.
• Total revenues (including transfers) of all governmental activities increased by $3,449,984, or 9.7%. Total expenses
increased by $2,020,944 or 4.7% as compared to fiscal year 2017.
• Total revenues of all business-type activity programs increased by $797,571, or 4.6%, while the total expenses
increased by $230,895, or 1.4% as compared to fiscal year 2017.
• Governmental Funds reported combined ending fund balances of $30,187,092, an increase of $2,157,727 over the
prior fiscal year.
o Total fund balance for the General Fund was $11,652,043, an increase of $832,881 over fiscal year 2017.
This represents 49% of General Fund expenditures. $9,556,631 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 $14,805,542, an increase of $1,314,817 over fiscal
year 2017. 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 2018 reflected a $532,831 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.
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.
VILLAGE OF PLAINFIELD, ILLINOIS
MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued)
______________________________________________________________________________
(See independent auditor's report)
MD&A 2
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 8-12) 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 94-101 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 20-58 of this
report.
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 59-66 of this report.
VILLAGE OF PLAINFIELD, ILLINOIS
MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued)
______________________________________________________________________________
(See independent auditor's report)
MD&A 3
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 67-131 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 $321,519,888 as of April 30, 2018 and $327,160,397 for April 30, 2017. In comparison, this
amount reflects a decrease of $5,640,509 in total net position. For more detailed information see the Statement of Net Position
(page 4). The following table reflects the condensed Statement of Net Position:
The largest portion of the Village’s total net position (91%) 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 $23,888,941 may be used to meet the Village’s ongoing
obligations. Of this amount, $10,184,052 represents the governmental activities portion and $13,704,889 is available for the
Village’s business-type activities (water and sewer operations).
2018 2017 2018 2017 2018 2017
Assets
Current Assets 40,857,281$ 38,304,250$ 18,910,656$ 16,801,497$ 59,767,937$ 55,105,747$
Capital Assets 225,823,680$ 235,734,313$ 103,209,957$ 105,335,852$ 329,033,637$ 341,070,165$
Total Assets 266,680,961$ 274,038,563$ 122,120,613$ 122,137,349$ 388,801,574$ 396,175,912$
Deferred Outflows of Resources
IMRF 280,452$ 960,331$ 58,756$ 198,008$ 339,208$ 1,158,339$
OPEB 397,529$ 15,887$ 413,416$
Police Pension 2,600,361$ 2,214,139$ -$ -$ 2,600,361$ 2,214,139$
Unamortized loss on refundings 1,692,638$ 1,816,600$ 2,238,434$ 2,394,625$ 3,931,072$ 4,211,225$
Total Assets and Deferred
Outflows of Resources 271,651,941$ 279,029,633$ 124,433,690$ 124,729,982$ 396,085,631$ 403,759,615$
Liabilities
Current Liabilities 3,720,777$ 3,601,204$ 2,358,736$ 1,498,449$ 6,079,513$ 5,099,653$
Long-Term Liabilities 36,149,650$ 38,520,172$ 21,367,764$ 24,172,439$ 57,517,414$ 62,692,611$
Total Liabilities 39,870,427$ 42,121,376$ 23,726,500$ 25,670,888$ 63,596,927$ 67,792,264$
Deferred Inflows of Resources
IMRF 1,216,502$ 141,893$ 248,717$ 28,616$ 1,465,219$ 170,509$
OPEB 390,062$ 15,589$ 405,651$
Police Pension 1,904,728$ 1,687,880$ -$ -$ 1,904,728$ 1,687,880$
Deferred property tax 7,193,218$ 6,948,565$ -$ -$ 7,193,218$ 6,948,565$
Total Liabilities and Deferred
Inflows of Resources 50,574,937$ 50,899,714$ 23,990,806$ 25,699,504$ 74,565,743$ 76,599,218$
Net Position:
Net Investmant in Capital Assets 206,531,017$ 214,068,963$ 84,489,070$ 84,275,866$ 291,020,087$ 298,344,829$
Restricted 4,361,935$ 4,203,118$ 2,248,925$ 2,248,756$ 6,610,860$ 6,451,874$
Unrestricted 10,184,052$ 9,857,838$ 13,704,889$ 12,505,856$ 23,888,941$ 22,363,694$
Total Net Position 221,077,004$ 228,129,919$ 100,442,884$ 99,030,478$ 321,519,888$ 327,160,397$
Governmental Activities Business-Type Activities Total Primary Government
Table 1: Statement of Net Position as of April 30, 2018 and April 30, 2017
VILLAGE OF PLAINFIELD, ILLINOIS
MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued)
______________________________________________________________________________
(See independent auditor's report)
MD&A 4
Current Year Impacts
The Village of Plainfield’s April 30, 2018 General Fund reflects a positive fund balance of $11,652,043, reflecting an increase
of fund balance of $832,881 from the 2017 fiscal year. The 2018 total combined General Fund balance represents 49% of
General Fund expenditures. Total General Fund unassigned fund balance represents 40% of General Fund expenditures or
$9,556,631. The Village’s Capital Projects fund balance improved its fund balance by $1,314,817 resulting in a fund balance
of $14,805,542 as of April 30, 2018. The Village’s overall combined fund balance is $30,187,092, an increase of $2,157,727
from fiscal year 2017.
Changes in Net Position
The following table provides detail of the change in the Village’s net position during the year ended April 30, 2018 compared
to the year ended April 30, 2017. 2018 Governmental activities decreased the Village’s net position by $6,024,008 and
business-type activities increased the Village’s net position by $1,464,124.
Depreciation was a primary factor of the decrease in net position for the governmental activities. Highway and Streets
expenses of $25,231,666 include depreciation expenses of $14,479,354.
2018 2017 2018 2017 2018 2017
Revenues
Program Revenues
Charges for Services 8,045,799$ 7,789,088$ 16,004,417$ 15,071,122$ 24,050,216$ 22,860,210$
Operating Grants & Contributions 1,213,779$ 1,184,693$ -$ 389,353$ 1,213,779$ 1,574,046$
Capital Grants & Contributions 3,173,077$ 1,207,122$ 270,424$ -$ 3,443,501$ 1,207,122$
General Revenues
Property Taxes 7,096,972$ 6,795,465$ -$ -$ 7,096,972$ 6,795,465$
Other Taxes 17,859,862$ 17,436,589$ 1,808,980$ 1,745,968$ 19,668,842$ 19,182,557$
Other 826,295$ 361,243$ 914,520$ 985,927$ 1,740,815$ 1,347,170$
Total Revenues 38,215,784$ 34,774,200$ 18,998,341$ 18,192,370$ 57,214,125$ 52,966,570$
Expenses
General Government 5,661,695$ 4,547,120$ -$ -$ 5,661,695$ 4,547,120$
Public Safety 13,601,471$ 14,062,875$ -$ -$ 13,601,471$ 14,062,875$
Highways and Streets 25,231,666$ 23,787,789$ -$ -$ 25,231,666$ 23,787,789$
Interest 724,260$ 800,364$ -$ -$ 724,260$ 800,364$
Water and Sewer -$ -$ 16,554,917$ 16,324,022$ 16,554,917$ 16,324,022$
Total Expenses 45,219,092$ 43,198,148$ 16,554,917$ 16,324,022$ 61,774,009$ 59,522,170$
(7,003,308)$ (8,423,948)$ 2,443,424$ 1,868,348$ (4,559,884)$ (6,555,600)$
Transfers 979,300$ 970,900$ (979,300)$ (970,900)$ -$ -$
Change in Net Position (6,024,008)$ (7,453,048)$ 1,464,124$ 897,448$ (4,559,884)$ (6,555,600)$
Net Position May 1 228,129,919$ 99,030,478$ 327,160,397$
Change in accounting principle (1,028,907)$ (51,718)$ (1,080,625)$
Net Position May 1, RESTATED 227,101,012$ 98,978,760$ 326,079,772$
Ending Net Position 221,077,004$ 228,129,919$ 100,442,884$ 99,030,478$ 321,519,888$ 327,160,397$
Table 2: Changes in Net Position for the Fiscal Years Ended April 30, 2018 and April 30, 2017
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
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 64% of the Village's General Fund and 13.2%
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.
Current Year Impacts – Governmental Activities Revenues
VILLAGE OF PLAINFIELD, ILLINOIS
MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued)
______________________________________________________________________________
(See independent auditor's report)
MD&A 6
For the fiscal year ended April 30, 2018, revenues from Governmental Activities totaled $39,195,084, an increase of
$3,449,984, or 9.7% from fiscal year 2017. The increase is primarily driven from an additional $1,965,955 in capital grants
and contributions and an additional $1,199,232 in general revenues (property, sales, income tax) . Sales and Use Tax were
the Village's largest revenue source at $10,307,909, representing 26.30% of the total Governmental Activity revenue.
Charges for Services were the Village's second largest revenue source at $8,045,799, representing 20.53%. The primary
Charges for Services revenues include refuse fees ($4,213,157), building permit revenues ($855,481), and franchise fees
($676,567). Property and Replacement Taxes represent $7,096,972 or 18.11% of the total Governmental Activity revenue.
Development activity has remained steady in 2018. During the fiscal year, 163 single family building permits were issued
for new construction within the Village. During fiscal year 2017, 134 single family building permits were issued and 151
in 2016.
The Village’s property tax revenues increased to $7,096,972 in fiscal year 2018 from $6,795,465 in fiscal year 2017. The
Equalized Assessed Valuation (EAV) of the Village increased to $1,282,556,687 in calendar year 2016 from $1,211,918,620
in calendar year 2015, representing $70,638,067 or 5.8%.
The Village’s state-shared revenues of sales, income, and use tax increased this fiscal year by $209,053. State Sales Tax
reflected the reason for the increase. Details of the Village’s portion of State-Shared Taxes are as follows:
State-Shared Tax
Fiscal Year
2017
Fiscal Year
2018
Increase /
(Decrease)
Sales Tax 5,354,048 5,642,698 288,650
State Income Tax 3,741,387 3,589,279 (152,108)
Use Tax 974,198 1,046,709 72,511
Total 10,069,633 10,278,686 209,053
VILLAGE OF PLAINFIELD, ILLINOIS
MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued)
______________________________________________________________________________
(See independent auditor's report)
MD&A 7
Current Year Impacts – Governmental Activities Expenses
For the fiscal year ended April 30, 2018, expenses from Governmental Activities totaled $45,219,092, an increase of
$2,020,944 over fiscal year 2017. In comparison, expenses from Governmental Activities in fiscal year 2017 increased by
$389,237. In fiscal year 2016, expenses increased by $2,265,677.
For the fiscal year ended April 30, 2018, Highways and Streets represented 55.08% of expenditures or $25,231,666. Included
in this figure is depreciation expense of $14,479,354. Some of the Village’s capital expenditures include $2,730,857 for
roadway improvements, $523,582 for machinery and equipment for the Police and Public Works Departments, $336,350
for sidewalk, curb replacement and pedestrian crossings, and $247,808 for tree removal due to the emerald ash borer. Fiscal
year 2018 also included capital expenses of $1,418,694 relating to the PACE park and ride parking lot/facility project,
whereby PACE is providing the funding for the engineering and construction costs.
VILLAGE OF PLAINFIELD, ILLINOIS
MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued)
______________________________________________________________________________
(See independent auditor's report)
MD&A 8
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
$1,412,406 to $100,442,884 (see Table 2 – MD&A page 4).
Total revenue for the Village’s business-type activities increased by $805,971; to $18,998,241 in fiscal year 2018 from
$18,192,370 in fiscal year 2017. Charges for Services revenues for fiscal year end 2018 totaled $16,004,417, an increase of
$933,295. 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.
Current Year Impacts – Business Type Activities Expenses
Operating expenses from all Business-Type Activities increased by $230,895 or 1.4%. Lake Michigan water purchase
accounted for $623,117 in additional expenses. Depreciation expenses for the water and sewer system remained relatively
flat, increasing by $50,780 to $3,161,418 for fiscal year 2018.
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, 2018 the Governmental Funds (as presented on page 9) reported a combined fund balance of $30,187,092
which is an increase from the beginning of the year balance of $28,029,365. Of the $2,157,727 overall fund balance increase,
the Village’s Capital Fund increased its fund balance by $1,314,817 and General Fund increased its fund balance by $832,881.
Of the $30,187,092 total fund balance, $9,556,631 is unassigned within the Village’s General Fund, indicating availability of
use for continuing Village services. Non-spendable, restricted or assigned fund balance of $20,630,461 includes $14,805,542
for capital projects, $3,173,918 for street maintenance, $1,248,272 for healthcare, $557,040 for public safety, and smaller
statutory restrictions or assignments for economic development, audit, liability insurance, retirement obligations, and debt
service. Prepaid items of $212,479 represents non-spendable amounts.
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 $832,881 in fiscal year 2018. General Fund actual revenues were $950,474 more than budgeted.
This amount is primarily related to higher actual state income and use tax revenues of $414,407 then what was budgeted.
Total General Fund revenues increased by $1,235,847 in fiscal year 2018. General Fund expenditures increased by
$2,278,515 from the prior year.
VILLAGE OF PLAINFIELD, ILLINOIS
MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued)
______________________________________________________________________________
(See independent auditor's report)
MD&A 9
GENERAL FUND BUDGETARY HIGHLIGHTS
Other financing sources include a $532,831 transfer to the Capital Fund 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.
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 $5.9 million in capital projects in fiscal
year 2018, and increased its fund balance by $1,314,817 resulting in an ending fund balance of $14,805,542. The $1,314,817
increase consisted of a $532,831 General Fund transfer based on the Village’s Fund balance policy, and actual capital
expenditures lower than budgeted This fund balance will be utilized for future capital projects.
Proprietary Funds
At April 30, 2018 the Proprietary Funds total net position increased by $1,464,124. This increase is directly related to an
increase in Charges for Services revenue due to increased water demand. Capital grants and contributions consisted of
$270,424 in fiscal year 2018. In fiscal year 2017, operating contributions totaled $389,353, with no capital contributions.
There were no contributions of infrastructure in fiscal years 2014 - 2016. 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 income of $225,250 in fiscal year 2018 (page 96). Fiscal
year 2017 reported an operating loss of $409,821. The 2017 loss was directly attributable to water and sewer infrastructure
depreciation expenses of $3,110,638.
CAPITAL ASSETS
The Village’s investment in capital assets for its Governmental and Business-Type Activities as of April 30, 2018, amounts
to $329,033,637. 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 $12,036,528. The Governmental Activities net capital assets decreased by
$9,910,633. The Business-Type Activities net capital assets decreased by $2,125,895. Detailed information regarding the
change in capital assets is included in the Notes to the Financial Statements on pages 31-32.
Original
Budget Final Budget Actual
Revenues 24,309,315$ 24,309,315$ 25,259,789$
Expenditures 24,534,315$ 24,534,315$ 23,916,577$
Excess of Revenues over
Expenditures (225,000)$ (225,000)$ 1,343,212$
Other Financing Sources
(Uses)225,000$ 225,000$ (510,331)$
Net Changes in Fund Balance -$ -$ 832,881$
Table 3: General Fund Budgetary Highlights
2018 2017 2018 2017 2018 2017
Land and Right of Way 99,620,465$ 99,620,465$ 3,043,544$ 3,043,544$ 102,664,009$ 102,664,009$
Buildings 21,191,919$ 21,259,692$ 11,695,958$ 12,044,920$ 32,887,877$ 33,304,612$
Machinery and Equipment 1,525,863$ 1,462,353$ 487,748$ 97,402$ 2,013,611$ 1,559,755$
Water & Sewer System -$ -$ 87,627,299$ 89,982,376$ 87,627,299$ 89,982,376$
Infrastructure 96,085,295$ 106,870,138$ -$ -$ 96,085,295$ 106,870,138$
Construction in progress 7,400,138$ 6,521,665$ 355,408$ 167,610$ 7,755,546$ 6,689,275$
Total Capital Assets 225,823,680$ 235,734,313$ 103,209,957$ 105,335,852$ 329,033,637$ 341,070,165$
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 10
DEBT OUTSTANDING
As of April 30, 2018, the Village has six general obligation bond series, one Illinois EPA low interest loan, and two revenue
bond series outstanding. At April 30, 2018, $23.4 million in general obligation bonds, $2.3 million in Illinois EPA loans,
and $14.1 million in revenue bonds are outstanding. In addition, by continuing to monitor bond market conditions, the Village
has been able to achieve cost savings of over $3.6 million between 2009-2014 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”.
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 32-37).
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
VILLAGE OF PLAINFIELD, ILLINOIS
MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued)
______________________________________________________________________________
(See independent auditor's report)
MD&A 11
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:
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 2017 average unemployment for the Village
of Plainfield was 4.0%, which favorably compares to Will County’s rate of 5.2% and the State of Illinois rate of 5.0%. As of
July 2018, the average unemployment for the Village was 3.5%, which still favorably compares to Will County’s rate of 4.1%
and the State of Illinois rate of 4.3%. The national average unemployment rate for July 2018 was 4.1%.
Information from the US Census Bureau via the 2000 Census and the 2012-2016 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 2012-2016 2000 2012-2016 2000 2012-2016 2000 2012-2016
Median value
of owner-
occupied
housing units
$198,300 $287,100 $154,300 $210,600 $130,800 $174,800 $119,600 $184,700
Plainfield Will County Illinois USA
2000 2012-2016 2000 2012-2016 2000 2012-2016 2000 2012-2016
Median
household
income
$80,799 $116,896 $62,238 $77,507 $46,590 $59,196 $41,994 $55,322
Per the data above, the median value of owner-occupied housing units increased an estimated 45% for the Village within
approximately the past 16 years. In addition, the median household income increased by 45% during the same timeframe.
• 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
• 2017 – ESTIMATE - U.S. Census
VILLAGE OF PLAINFIELD, ILLINOIS
MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued)
______________________________________________________________________________
(See independent auditor's report)
MD&A 12
Consistent with past budgets, the Village’s 2019 fiscal year budget was developed in a prudent and conservative manner.
Continued cost containments across all departments enabled the Village to approve a balanced 2019 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 budget for fiscal year beginning May 1, 2018 totals $62,334,480, a 5.4% increase from the previous year. The
General Fund operating budget totals $25,256,830 resulting in a 1.9% increase over the previous year. The 2019 operating
budget anticipates a stable housing market and continues to be conservative in revenue projections, reflecting level state
shared revenues and property taxes. The 2019 budget includes funding for 3 new positions, including one Village Engineer
and 2 new patrol officers. The Capital Fund includes over $13.5 million in projects, with $5 million specifically attributable
to the completion of the new PACE park-and-ride project. The Village and PACE have entered into an agreement whereby
PACE will provide 100% funding for the engineering and construction of a new 600 car parking lot and bus related amenities.
Other capital projects include $7 million for roadway improvements and maintenance programs, engineering design work,
traffic control devices, 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 $1 million for the Village’s roadway
maintenance program.
State revenues combined (sales, income and use tax) continue to represent the largest portion of the General Fund revenues
at 40%. Sales tax revenue improved by 5.4% in fiscal year 2018 as compared to fiscal year 2017. Sales tax for the 2019 fiscal
year budget reflects a 3.2% increase. Given the continued uncertainties of the State of Illinois, the Village continues to remain
cautious regarding budgeting for income and use tax revenues, and will continue to be monitored closely in the 2019 fiscal
year and forward.
Property tax revenues represent approximately 23% of the overall General Fund revenues. Consistent with Village Board
direction, the Village’s tax levy rate has remained unchanged for the past five years. For the 2017 levy year, the Village of
Plainfield’s property tax rate represents 5.27% of a resident’s overall tax bill. Or, for every dollar paid in property taxes by
Village residents, 5.27 cents is paid to the Village of Plainfield. The Village's composition is over 86% residential with
smaller commercial and industrial components. As economic development growth and sustainability is a key component of
the Village’s Strategic Plan, the Village will continue to explore economic development opportunities to better assist in
diversifying the Village’s tax base.
CONTACTING THE VILLAGE'S FINANCIAL MANAGEMENT
This financial report is designed to provide our citizens, customers, investors, and creditors with a general overview of the
Village's finances and to demonstrate the Village's accountability for the money it receives. Questions concerning this report
or requests for additional financial information should be directed to Traci Pleckham, Director of Management Services,
Village of Plainfield, 24401 West Lockport Street, Plainfield, Illinois 60544.
Governmental Business-Type
Activities Activities Total
ASSETS
Cash and investments 27,367,792$ 16,142,045$ 43,509,837$
Receivables (net, where applicable, of
allowances for uncollectibles)
Property taxes 7,193,218 - 7,193,218
Sales tax 2,482,843 430,984 2,913,827
Utility/telecommunications taxes 355,028 - 355,028
Allotments 90,611 - 90,611
Grants 446,857 - 446,857
Interest 34,510 28,426 62,936
Other 1,426,505 2,066,148 3,492,653
Prepaid expenses 212,479 15,318 227,797
Deposits 1,247,438 222,863 1,470,301
Other - 4,872 4,872
Capital assets
Nondepreciable 107,020,603 3,398,952 110,419,555
Depreciable, net of accumulated depreciation 118,803,077 99,811,005 218,614,082
Total assets 266,680,961 122,120,613 388,801,574
DEFERRED OUTFLOWS OF RESOURCES
Deferred outflows of resources - IMRF 280,452 58,756 339,208
Deferred outflows of resources - OPEB 397,529 15,887 413,416
Deferred outflows of resources - Police Pension 2,600,361 - 2,600,361
Unamortized loss on refundings 1,692,638 2,238,434 3,931,072
Total deferred outflows of resources 4,970,980 2,313,077 7,284,057
Total assets and deferred outflows of resources 271,651,941 124,433,690 396,085,631
Primary Government
VILLAGE OF PLAINFIELD, ILLINOIS
STATEMENT OF NET POSITION
April 30, 2018
(This statement is continued on the following page.)
- 4 -
Governmental Business-Type
Activities Activities Total
LIABILITIES
Accounts payable 2,355,590$ 1,954,552$ 4,310,142$
Accrued payroll 393,842 48,356 442,198
Deposits payable 94,114 21,862 115,976
Accrued interest payable 243,806 333,966 577,772
Other accrued liabilities 127,947 - 127,947
Unearned revenue 505,478 - 505,478
Noncurrent liabilities
Due within one year 3,297,127 2,532,631 5,829,758
Due in more than one year 32,852,523 18,835,133 51,687,656
Total liabilities 39,870,427 23,726,500 63,596,927
DEFERRED INFLOWS OF RESOURCES
Deferred inflows of resources - IMRF 1,216,502 248,717 1,465,219
Deferred inflows of resources - OPEB 390,062 15,589 405,651
Deferred inflows of resources - Police Pension 1,904,728 - 1,904,728
Deferred property tax 7,193,218 - 7,193,218
Total deferred inflows of resources 10,704,510 264,306 10,968,816
Total liabilities and deferred inflows
of resources 50,574,937 23,990,806 74,565,743
NET POSITION
Net investment in capital assets 206,531,017 84,489,070 291,020,087
Restricted for
Street maintenance 3,173,918 - 3,173,918
Public safety 557,040 - 557,040
Debt service - 2,248,925 2,248,925
Audit 15,977 - 15,977
Liability insurance 294,086 - 294,086
Retirement obligations 125,878 - 125,878
Economic development 195,036 - 195,036
Unrestricted 10,184,052 13,704,889 23,888,941
TOTAL NET POSITION 221,077,004$ 100,442,884$ 321,519,888$
April 30, 2018
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 5,661,695$ 6,324,056$ 20,772$ -$
Public safety 13,601,471 1,701,686 82,165 -
Highways and streets 25,231,666 20,057 1,110,842 3,173,077
Interest 724,260 - - -
Total governmental activities 45,219,092 8,045,799 1,213,779 3,173,077
Business-Type Activities
Water and sewer 16,554,917 16,004,417 - 270,424
Total business-type activities 16,554,917 16,004,417 - 270,424
TOTAL PRIMARY GOVERNMENT 61,774,009$ 24,050,216$ 1,213,779$ 3,443,501$
Program Revenues
VILLAGE OF PLAINFIELD, ILLINOIS
STATEMENT OF ACTIVITIES
April 30, 2018
- 6 -
Governmental Business-Type
Activities Activities Total
683,133$ -$ 683,133$
(11,817,620) - (11,817,620)
(20,927,690) - (20,927,690)
(724,260) - (724,260)
(32,786,437) - (32,786,437)
- (280,076) (280,076)
- (280,076) (280,076)
(32,786,437) (280,076) (33,066,513)
General Revenues
Taxes
Property and replacement 7,096,972 - 7,096,972
Home rule sales 3,618,502 1,808,980 5,427,482
Utility/telecommunications 2,865,380 - 2,865,380
Local motor fuel 1,097,294 - 1,097,294
Other 9,659 - 9,659
Intergovernmental revenue - unrestricted
Sales and use tax 6,689,407 - 6,689,407
Income tax 3,589,279 - 3,589,279
Investment income 311,646 108,074 419,720
Miscellaneous 504,990 806,446 1,311,436
Transfers 979,300 (979,300) -
Total 26,762,429 1,744,200 28,506,629
CHANGE IN NET POSITION (6,024,008) 1,464,124 (4,559,884)
NET POSITION, MAY 1 228,129,919 99,030,478 327,160,397
Change in accounting principle (1,028,907) (51,718) (1,080,625)
NET POSITION, MAY 1, RESTATED 227,101,012 98,978,760 326,079,772
NET POSITION, APRIL 30 221,077,004$ 100,442,884$ 321,519,888$
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 9,712,610$ 13,517,598$ 2,233$ 4,135,351$ 27,367,792$
Receivables (net, where applicable,
of allowances for uncollectibles)
Property taxes 5,825,376 - 115,816 1,252,026 7,193,218
Sales tax 1,620,745 862,098 - - 2,482,843
Utility tax - 355,028 - - 355,028
Allotments - - - 90,611 90,611
Grants 16,021 430,836 - - 446,857
Interest 34,510 - - - 34,510
Other 628,296 796,059 - 2,150 1,426,505
Prepaid items 212,479 - - - 212,479
Deposits 1,247,438 - - - 1,247,438
Total assets 19,297,475 15,961,619 118,049 5,480,138 40,857,281
DEFERRED OUTFLOWS OF RESOURCES
None - - - - -
TOTAL ASSETS AND DEFERRED
OUTFLOWS OF RESOURCES 19,297,475$ 15,961,619$ 118,049$ 5,480,138$ 40,857,281$
OUTFLOWS OF RESOURCES
ASSETS AND DEFERRED
VILLAGE OF PLAINFIELD, ILLINOIS
BALANCE SHEET
GOVERNMENTAL FUNDS
April 30, 2018
(This statement is continued on the following page.)
- 8 -
Nonmajor Total
Capital Debt Governmental Governmental
General Projects Service Funds Funds
LIABILITIES
Accounts payable 1,174,635$ 680,117$ -$ 500,838$ 2,355,590$
Accrued payroll 393,842 - - - 393,842
Impact fee 112,675 - - - 112,675
Recapture fee - 15,272 - - 15,272
Unearned revenue 44,790 460,688 - - 505,478
Developer deposit 94,114 - - - 94,114
Total liabilities 1,820,056 1,156,077 - 500,838 3,476,971
DEFERRED INFLOWS OF RESOURCES
Unavailable property tax revenue 5,825,376 - 115,816 1,252,026 7,193,218
Total deferred inflows of resources 5,825,376 - 115,816 1,252,026 7,193,218
Total liabilities and deferred inflows
of resources 7,645,432 1,156,077 115,816 1,752,864 10,670,189
FUND BALANCES
Nonspendable
Prepaid items 212,479 - - - 212,479
Restricted
Street maintenance - - - 3,173,918 3,173,918
Public safety 508,783 - - 48,257 557,040
Audit - - - 15,977 15,977
Liability insurance - - - 294,086 294,086
Retirement obligations 125,878 - - - 125,878
Economic development - - - 195,036 195,036
Unrestricted
Assigned
Capital projects - 14,805,542 - - 14,805,542
Debt service - - 2,233 - 2,233
Insurance 1,248,272 - - - 1,248,272
Unassigned 9,556,631 - - - 9,556,631
Total fund balances 11,652,043 14,805,542 2,233 3,727,274 30,187,092
TOTAL LIABILITIES, DEFERRED INFLOWS
OF RESOURCES, AND FUND BALANCES 19,297,475$ 15,961,619$ 118,049$ 5,480,138$ 40,857,281$
VILLAGE OF PLAINFIELD, ILLINOIS
BALANCE SHEET (Continued)
GOVERNMENTAL FUNDS
April 30, 2018
OF RESOURCES, AND FUND BALANCES
LIABILITIES, DEFERRED INFLOWS
See accompanying notes to financial statements.
- 9 -
FUND BALANCES OF GOVERNMENTAL FUNDS 30,187,092$
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 225,823,680
Bond premiums/discounts on bonds are expensed in governmental funds but capitalized
and amortized in the statement of net position
Unamortized bond premium (1,035,301)
Unamortized loss on refunding 1,692,638
Interest payable is not due and payable in the current period and, therefore, is not reported
in the governmental funds (243,806)
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 280,452
Deferred inflows of resources (1,216,502)
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 2,600,361
Deferred inflows of resources (1,904,728)
Differences between expected and actual experiences, assumption changes, and net differences
between projected and actual earnings for the OPEB Plan are recognized as deferred outflows
of resources and deferred inflows of resources on the statement of net position
Deferred outflows of resources 397,529
Deferred inflows of resources (390,062)
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 (19,950,000)
Net pension liability - IMRF (1,368,429)
Net pension liability - Police Pension (11,308,345)
Net pension liability - OPEB (1,337,466)
Compensated absences payable (1,150,109)
NET POSITION OF GOVERNMENTAL ACTIVITIES 221,077,004$
April 30, 2018
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, 2018
Nonmajor Total
Capital Debt Governmental Governmental
General Projects Service Funds Funds
REVENUES
Taxes 6,701,509$ 3,618,502$ 118,519$ 1,383,896$ 11,822,426$
Licenses and permits 1,094,102 - - - 1,094,102
Intergovernmental 10,335,232 3,067,663 - 1,110,842 14,513,737
Charges for services 5,658,247 6,682 - - 5,664,929
Fines and forfeits 643,766 406,510 - 16,892 1,067,168
Investment income 117,204 139,004 6,288 49,150 311,646
Miscellaneous 709,729 1,477,071 - 22,321 2,209,121
Total revenues 25,259,789 8,715,432 124,807 2,583,101 36,683,129
EXPENDITURES
Current
General government 4,272,527 - - 1,187,706 5,460,233
Public safety 11,948,932 - - 261,096 12,210,028
Highways and streets 7,695,118 - - 1,106,344 8,801,462
Capital outlay - 5,909,454 - - 5,909,454
Debt service
Principal retirement - - 2,395,000 - 2,395,000
Interest and fiscal charges - - 733,025 - 733,025
Total expenditures 23,916,577 5,909,454 3,128,025 2,555,146 35,509,202
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 1,343,212 2,805,978 (3,003,218) 27,955 1,173,927
OTHER FINANCING SOURCES (USES)
Transfers in 18,000 532,831 3,003,292 - 3,554,123
Transfers (out)(532,831) (2,023,992) - (18,000) (2,574,823)
Sale of capital assets 4,500 - - - 4,500
Total other financing sources (uses)(510,331) (1,491,161) 3,003,292 (18,000) 983,800
NET CHANGE IN FUND BALANCES 832,881 1,314,817 74 9,955 2,157,727
FUND BALANCES, MAY 1 10,819,162 13,490,725 2,159 3,717,319 28,029,365
FUND BALANCES, APRIL 30 11,652,043$ 14,805,542$ 2,233$ 3,727,274$ 30,187,092$
See accompanying notes to financial statements.
- 11 -
NET CHANGE IN FUND BALANCES -
TOTAL GOVERNMENTAL FUNDS 2,157,727$
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 4,215,284
Contributions of capital assets are reported only in the statement of activities 1,532,655
Loss on the disposal of capital assets are reported only in the statement of activities (245,728)
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 2,395,000
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 (22,313)
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 31,172
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 (628,204)
The change in the OPEB net pension liability and deferred outflows/inflows of resources
is not a source or use of a financial resource (35,862)
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 (15,412,844)
Change in compensated absences (41,973)
Change in accrued interest payable 31,078
CHANGE IN NET POSITION OF GOVERNMENTAL ACTIVITIES (6,024,008)$
For the Year Ended April 30, 2018
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, 2018
Water and
Sewer
CURRENT ASSETS
Cash and investments 16,142,045$
Receivables
Accounts 2,066,148
Sales tax 430,984
Other 4,872
Interest 28,426
Prepaid expenses 15,318
Total current assets 18,687,793
NONCURRENT ASSETS
Capital assets
Nondepreciable 3,398,952
Depreciable, net of accumulated depreciation 99,811,005
Total capital assets 103,209,957
Other assets
Deposits 222,863
Total other assets 222,863
Total noncurrent assets 103,432,820
Total assets 122,120,613
DEFERRED OUTFLOWS OF RESOURCES
Deferred outflows of resources - IMRF 58,756
Deferred outflows of resources - OPEB 15,887
Unamortized loss on refundings 2,238,434
Total deferred outflows of resources 2,313,077
Total assets and deferred outflows of resources 124,433,690
(This statement is continued on the following page.)
- 13 -
VILLAGE OF PLAINFIELD, ILLINOIS
STATEMENT OF NET POSITION (Continued)
PROPRIETARY FUND
April 30, 2018
Water and
Sewer
CURRENT LIABILITIES
Accounts payable 1,954,552$
Accrued payroll 48,356
Accrued interest 333,966
Compensated absences payable 73,238
Illinois EPA loan 159,393
Bonds payable 2,300,000
Developer deposit 21,862
Total current liabilities 4,891,367
LONG-TERM LIABILITIES
Compensated absences payable 8,041
Net pension liability 273,714
Total OPEB liability 53,450
Illinois EPA loan 2,169,432
Bonds payable 16,330,496
Total long-term liabilities 18,835,133
Total liabilities 23,726,500
DEFERRED INFLOWS OF RESOURCES
Deferred inflows of resources - IMRF 248,717
Deferred inflows of resources - OPEB 15,589
Total deferred outflows of resources 264,306
Total liabilities and deferred inflows of resources 23,990,806
NET POSITION
Net investment in capital assets 84,489,070
Restricted for debt service 2,248,925
Unrestricted 13,704,889
TOTAL NET POSITION 100,442,884$
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, 2018
Water and
Sewer
OPERATING REVENUES
Charges for services 16,004,417$
Total operating revenues 16,004,417
OPERATING EXPENSES
Water operations 10,572,926
Sewer operations 2,044,823
Depreciation 3,161,418
Total operating expenses 15,779,167
OPERATING INCOME 225,250
NON-OPERATING REVENUES (EXPENSES)
Home rule sales tax 1,808,980
Miscellaneous revenue 806,446
Investment income 108,074
Interest expense (775,750)
Total non-operating revenues (expenses)1,947,750
INCOME BEFORE TRANSFERS AND CAPITAL CONTRIBUTIONS 2,173,000
TRANSFERS (OUT)(979,300)
CAPITAL CONTRIBUTIONS 270,424
CHANGE IN NET POSITION 1,464,124
NET POSITION, MAY 1 99,030,478
Change in accounting principle (51,718)
NET POSITION, MAY 1, RESTATED 98,978,760
NET POSITION, APRIL 30 100,442,884$
See accompanying notes to financial statements.
- 15 -
VILLAGE OF PLAINFIELD, ILLINOIS
STATEMENT OF CASH FLOWS
PROPRIETARY FUND
For the Year Ended April 30, 2018
Water and
Sewer
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customers and users 15,922,090$
Reimbursements to other funds (250,000)
Payments to suppliers (9,922,680)
Payments to employees (1,544,689)
Net cash from operating activities 4,204,721
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES
Transfers (out) (979,300)
Non-operating revenues 2,585,587
Net cash from noncapital financing activities 1,606,287
CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES
Purchase of capital assets (765,099)
Principal payments on long-term debt (2,377,419)
Interest paid (769,118)
Net cash from capital and related
financing activities (3,911,636)
CASH FLOWS FROM INVESTING ACTIVITIES
Sale (purchase) of investments 4,278
Interest received 98,915
Net cash from investing activities 103,193
NET INCREASE IN CASH AND
CASH EQUIVALENTS 2,002,565
CASH AND CASH EQUIVALENTS, MAY 1 12,846,873
CASH AND CASH EQUIVALENTS, APRIL 30 14,849,438$
(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, 2018
Water and
Sewer
RECONCILIATION OF OPERATING INCOME TO NET
CASH FLOWS FROM OPERATING ACTIVITIES
Operating income 225,250$
Adjustments to reconcile operating income
to net cash from operating activities
Depreciation and amortization 3,161,418
Changes in assets and liabilities
Accounts receivable (82,327)
Prepaid fees 280
Deposits 10,173
Pension items - IMRF (6,385)
Pension items - OPEB 1,434
Accounts payable 909,926
Accrued expenses (15,048)
NET CASH FROM OPERATING ACTIVITIES 4,204,721$
CASH AND INVESTMENTS
Cash and cash equivalents 14,849,438$
Investments 1,292,607
TOTAL CASH AND INVESTMENTS 16,142,045$
NONCASH TRANSACTIONS
Capital contributions 270,424$
See accompanying notes to financial statements.
- 17 -
STATEMENT OF FIDUCIARY NET POSITION
FIDUCIARY FUNDS
April 30, 2018
Police
Pension
ASSETS
Cash and short-term investments 153,115$
Investments
U.S. Government and U.S. agency obligations 12,260,626
Municipal bonds 1,476,142
Mutual funds 17,223,314
Real estate investment trust 369,582
Receivables
Accrued interest receivable 98,578
Total assets 31,581,357
LIABILITIES
Accounts payable 3,003
Total liabilities 3,003
NET POSITION RESTRICTED
FOR PENSIONS 31,578,354$
VILLAGE OF PLAINFIELD, ILLINOIS
See accompanying notes to financial statements.
- 18 -
STATEMENT OF CHANGES IN FIDUCIARY NET POSITION
FIDUCIARY FUNDS
ADDITIONS
Contributions
Employer 1,364,479$
Employee 524,835
Total contributions 1,889,314
Investment income
Net appreciation in fair value
of investments 997,343
Interest and dividends 1,200,928
Total investment income 2,198,271
Less investment expense (99,577)
Net investment income 2,098,694
Total additions 3,988,008
DEDUCTIONS
Benefits and refunds 494,765
Administration 42,745
Total deductions 537,510
NET INCREASE 3,450,498
NET POSITION RESTRICTED
FOR PENSIONS
May 1 28,127,856
April 30 $ 31,578,354
VILLAGE OF PLAINFIELD, ILLINOIS
For the Year Ended April 30, 2018
See accompanying notes to financial statements.
- 19 -
- 20 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS
April 30, 2018
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 has elected to present this fund
as a major fund.
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, non-negotiable
certificates of deposit, and money market mutual funds are stated at cost or amortized
cost. Investments with a maturity greater than one year when purchased and all
investments of the pension trust fund are stated at fair value. Fair value is the price
that would be received to sell an asset or paid to transfer a liability in an orderly
transaction between market participants at the measurement date.
- 23 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 24 -
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
e. Cash and Investments (Continued)
Investments (Continued)
The Village categorizes the fair value measurements within the fair value hierarchy
established by generally accepted accounting principles. The hierarchy is based on
the valuation inputs used to measure the fair value of the asset. Level 1 inputs are
quoted prices in active markets for identical assets; Level 2 inputs are significant
other observable inputs; and Level 3 inputs are significant unobservable inputs.
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
acquisition 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.
- 24 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 25 -
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
h. Capital Assets (Continued)
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
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.
- 25 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 26 -
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
j. Fund Balance/Net Position (Continued)
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.
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.
- 26 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 27 -
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
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.
n. Use of Estimates
The preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions that
affect the reported amount of assets and liabilities and disclosure of contingent assets
and liabilities at the date of the financial statements and the reported amounts of
revenues and expenditures/expenses during the reporting period. Actual results could
differ from those estimates.
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,
- 27 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 28 -
2. DEPOSITS AND INVESTMENTS (Continued)
short-term commercial paper rated within the three highest classifications by at least two
standard rating services, and The Illinois Funds (a money market fund created by the State
of Illinois under the State Treasurer that maintains a $1 per share value).
The Illinois Public Treasurers’ Investment Pool, known as The Illinois Funds, operates as a
qualified external investment pool in accordance with the criteria established in GASB
Statement No. 79, Certain External Investment Pools and Pool Participants, and thus,
reports all investments at amortized cost rather than market value. The investment in The
Illinois Funds by participants is also reported at amortized cost. The Illinois Funds does not
have any limitations or restrictions on participant withdrawals. The Illinois Treasurer’s
Office issues a separate financial report for The Illinois Funds which may be obtained by
contacting the Administrative Office at Illinois Business Center, 400 West Monroe Street,
Suite 401, Springfield, Illinois 62704.
IMET is a not-for-profit investment trust formed pursuant to the Illinois Municipal Code
and managed by a Board of Trustees elected from the participating members. IMET is not
registered with the SEC as an investment company. Investments in IMET are valued at
IMET’s 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.
- 28 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 29 -
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, 2018:
Investment Maturities (in Years)
Investment Type Fair Value Less than 1 1-5 6-10
Greater than
10
IMET $ 8,100,555 $ - $ 8,100,555 $ - $ -
Negotiable certificates of
deposit 7,466,887 4,548,710 2,918,177 - -
TOTAL $ 15,567,442 $ 4,548,710 $ 11,018,732 $ - $ -
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. The Illinois Funds and Illinois Metropolitan Investment Fund (IMET) are
rated AAA. The Village’s negotiable certificates of deposits are not rated.
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. The Illinois
Funds and IMET are not subject to custodial credit risk.
- 29 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 30 -
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.
The Village has the following recurring fair value measurements as of April 30,
2018. The IMET 1 to 3 Year Fund, a mutual fund, is measured based on the net asset
value of the shares in IMET, which is based on the fair value of the underlying
investments in the mutual fund (Level 3 input). The negotiable certificates of deposit
are valued using a multi-dimensional relational model (Level 2 inputs).
3. RECEIVABLES - PROPERTY TAXES
Property taxes for the 2017 levy year attach as an enforceable lien on January 1, 2017, 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, 2018, and are payable in two installments, on or
about June 1, 2018 and September 1, 2018. 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 2017 taxes are intended to finance the
2019 fiscal year and are not considered available for current operations and are, therefore,
shown as unavailable/deferred revenue. The 2018 tax levy has not been recorded as a
receivable at April 30, 2018, as the tax attached as a lien on property as of January 1, 2018;
however, the tax will not be levied until December 2018 and, accordingly, is not
measurable at April 30, 2018.
- 30 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 31 -
4. CAPITAL ASSETS
a. Capital Assets
Capital asset activity for the year ended April 30, 2018 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 6,521,665 2,074,993 1,196,520 7,400,138
Total capital assets not being depreciated 106,142,130 2,074,993 1,196,520 107,020,603
Capital assets being depreciated
Buildings and improvements 31,526,574 928,183 265,000 32,189,757
Vehicles and equipment 7,080,150 682,232 89,342 7,673,040
Infrastructure 318,676,573 3,259,051 823,511 321,112,113
Total capital assets being depreciated 357,283,297 4,869,466 1,177,853 360,974,910
Less accumulated depreciation for
Buildings 10,266,882 754,144 23,188 10,997,838
Vehicles and equipment 5,617,797 614,806 85,426 6,147,177
Infrastructure 211,806,435 14,043,894 823,511 225,026,818
Total accumulated depreciation 227,691,114 15,412,844 932,125 242,171,833
Total capital assets being depreciated, net 129,592,183 (10,543,378) 245,728 118,803,077
GOVERNMENTAL ACTIVITIES
CAPITAL ASSETS, NET $ 235,734,313 $ (8,468,385) $ 1,442,248 $ 225,823,680
BUSINESS-TYPE ACTIVITIES
Capital assets not being depreciated
Land $ 3,043,544 $ - $ - $ 3,043,544
Construction in progress 167,610 200,053 12,255 355,408
Total capital assets not being depreciated 3,211,154 200,053 12,255 3,398,952
Capital assets being depreciated
Buildings 17,448,092 - - 17,448,092
Vehicles and equipment 1,213,030 479,683 - 1,692,713
Water transmission system 69,898,846 368,042 - 70,266,888
Sewer collection system 54,698,904 - - 54,698,904
Total capital assets being depreciated 143,258,872 847,725 - 144,106,597
Less accumulated depreciation for
Buildings 5,403,172 348,962 - 5,752,134
Vehicles and equipment 1,115,628 89,337 - 1,204,965
Water transmission system 19,435,304 1,601,860 - 21,037,164
Sewer collection system 15,180,070 1,121,259 - 16,301,329
Total accumulated depreciation 41,134,174 3,161,418 - 44,295,592
Total capital assets being depreciated, net 102,124,698 (2,313,693) - 99,811,005
BUSINESS-TYPE ACTIVITIES
CAPITAL ASSETS, NET $ 105,335,852 $ (2,113,640) $ 12,255 $ 103,209,957
- 31 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 32 -
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 $ 274,252
Public safety 659,238
Highways and streets 14,479,354
TOTAL DEPRECIATION EXPENSE -
GOVERNMENTAL ACTIVITIES
$ 15,412,844
b. Construction Contracts
The Village had no significant construction commitments at April 30, 2018.
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, 2017 through April 30, 2018:
Coverage
SWARM
Self-Insured
Retention/
Deductible
Limits
Property $ 50,000 $ 300,000,000/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,
2018 for the current or prior claim years.
- 32 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 33 -
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
$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
$ 925,000
$ -
$ 755,000
$ 170,000
$ 170,000
$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
315,000
-
100,000
215,000
105,000
$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
5,920,000
-
750,000
5,170,000
770,000
$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
5,840,000
-
660,000
5,180,000
680,000
$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
5,145,000
-
1,655,000
3,490,000
1,710,000
$9,665,000 General Obligation
Refunding Bonds of 2014,
annual installments of $70,000
to $1,160,000 through
December 15, 2026, interest at
2.00% to 3.50% payable each
June 15 and December 15.
Debt
Service
9,345,000
-
130,000
9,215,000
750,000
TOTAL GENERAL
OBLIGATION BONDS
$ 27,490,000
$ -
$ 4,050,000
$ 23,440,000
$ 4,185,000
- 33 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 34 -
6. LONG-TERM DEBT (Continued)
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
$ 975,000
$ -
$ 475,000
$ 500,000
$ 500,000
$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
13,650,000
-
90,000
13,560,000
90,000
TOTAL REVENUE BONDS $ 14,625,000 $ - $ 565,000 $ 14,060,000 $ 590,000
The amount of pledge remaining as of April 30, 2018 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
$ 512,500
5/1/18
$ 16,004,417
$ 511,431
Water and Sewer System
Revenue Bonds of 2015
Revenues of
the System
18,678,225
5/1/34
16,004,417
620,650
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
$ 2,486,244
$ -
$ 157,419
$ 2,328,825
$ 159,393
TOTAL ILLINOIS EPA LOANS $ 2,486,244 $ - $ 157,419 $ 2,328,825 $ 159,393
- 34 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 35 -
6. LONG-TERM DEBT (Continued)
d. Debt Service Requirements to Maturity
Annual debt service requirements to maturity are as follows:
Governmental Activities
Fiscal General Obligation Bonds
Year Principal Interest
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 $ 19,950,000 $ 2,938,500
Business-Type Activities
Fiscal General Obligation Bonds Revenue Bonds
Year Principal Interest Principal Interest
2019 $ 1,710,000 $ 121,800 $ 590,000 $ 541,350
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 $ 3,490,000 $ 175,200 $ 14,060,000 $ 5,130,725
- 35 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 36 -
6. LONG-TERM DEBT (Continued)
d. Debt Service Requirements to Maturity (Continued)
Business-Type Activities
Fiscal Illinois EPA Loans
Year Principal Interest
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 $ 2,328,825 $ 209,271
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 2018:
Balances
May 1,
Restated
Additions
Reductions
Balances
April 30
Current
Portion
GOVERNMENTAL ACTIVITIES
General obligation bonds $ 22,345,000 $ - $ 2,395,000 $ 19,950,000 $ 2,475,000
Compensated absences payable* 1,108,136 837,187 795,214 1,150,109 822,127
Net pension liability - IMRF* 3,154,089 - 1,785,660 1,368,429 -
Net pension liability - Police
Pension Plan* 10,510,764 797,581 - 11,308,345 -
Total OPEB liability* 1,294,137 43,329 - 1,337,466 -
Unamortized bond premiums 1,136,950 - 101,649 1,035,301 -
TOTAL GOVERNMENTAL
ACTIVITIES $ 39,549,076 $ 1,678,097 $ 5,077,523 $ 36,149,650 $ 3,297,127
*These obligations have typically been liquidated by the General Fund.
- 36 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 37 -
6. LONG-TERM DEBT (Continued)
e. Changes in Long-Term Liabilities (Continued)
Balances
May 1,
Restated
Additions
Reductions
Balances
April 30
Current
Portion
BUSINESS-TYPE ACTIVITIES
General obligation bonds $ 5,145,000 $ - $ 1,655,000 $ 3,490,000 $ 1,710,000
Revenue bonds 14,625,000 - 565,000 14,060,000 590,000
Illinois EPA loan 2,486,244 - 157,419 2,328,825 159,393
Compensated absences payable 78,376 69,121 66,218 81,279 73,238
Net pension liability - IMRF 639,452 365,738 273,714 -
Total OPEB liability 51,718 1,732 - 53,450 -
Unamortized bond premium 1,198,367 - 117,871 1,080,496 -
TOTAL BUSINESS-TYPE
ACTIVITIES
$ 24,224,157
$ 70,853
$ 2,927,246
$ 21,367,764
$ 2,532,631
f. Advance Refunding
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.
7. INTERFUND ACTIVITY
Individual fund transfers were as follows:
Fund Transfers In Transfers Out
General $ 18,000 $ 532,831
Capital Projects 532,831 2,023,992
Debt Service 3,003,292
Nonmajor Governmental - 18,000
Water and Sewer - 979,300
TOTAL $ 3,554,123 $ 3,554,123
- 37 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 38 -
7. INTERFUND ACTIVITY (Continued)
The purposes of significant transfers are as follows:
• $532,831 transferred from the General Fund to the Capital Projects Fund to finance
future capital projects in accordance with the Village’s fund balance policy.
• $3,003,292 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.
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.
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.
- 38 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 39 -
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
state shared sales taxes to the private organizations if certain benchmarks of development
are achieved. During the fiscal year ended April 30, 2018, approximately $73,472 in state
shared sales tax rebates were incurred under these agreements. Future contingent rebates of
approximately $264,208 in state shared sales taxes may be rebated if certain criteria are
met in future years.
11. TAX ABATEMENTS
The Village rebates local motor fuel taxes to encourage economic development in the
Village. The terms of these rebate arrangements are specified within written agreements
with the business concerned as allowed under the Illinois Compiled Statute Municipal
Code (65 ILCS 5/8-11-20). Certain rebates may be recaptured if the subject development
ceases to operate as intended for a period of more than 24 consecutive months. These
agreements are authorized through formal approval by the Village Board of Trustees. The
Village rebated $92,060 of local motor fuel taxes during the year ended April 30, 2018.
Future contingent rebates of approximately $234,252 in motor fuel taxes may be rebated if
certain criteria are met in future years.
12. 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.
- 39 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 40 -
12. 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, 2017, membership consisted of:
Inactive employees or their beneficiaries
currently receiving benefits 55
Inactive employees entitled to but not yet receiving benefits 72
Active employees 87
TOTAL 214
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.
- 40 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 41 -
12. 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 fiscal year ended
April 30, 2018 was 11.10% of covered payroll.
Actuarial Assumptions
The Village’s net pension liability was measured as of December 31, 2017 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, 2017
Actuarial cost method Entry-age normal
Assumptions
Price inflation 2.50%
Salary increases 3.39% to 14.25%
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-2017 (base year 2015). 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-2017
(base year 2015). 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-2017 (base year 2015). The IMRF
specific rates were developed from the RP-2014 Employee Mortality Table with
adjustments to match current IMRF experience.
- 41 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 42 -
12. 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 7.50%. 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 projected to be available to make all projected
future benefit payments of current plan members. Therefore, the long-term expected
rate of return on pension plan investments was applied to all periods of projected
benefit payments 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, 2017 $ 22,486,864 $ 18,693,323 $ 3,793,541
Changes for the period
Service cost 667,207 - 667,207
Interest 1,691,702 - 1,691,702
Difference between expected
and actual experience 7,116 - 7,116
Employer contributions - 669,286 (669,286)
Assumption changes (765,062) - (765,062)
Employee contributions - 271,577 (271,577)
Net investment income - 3,015,203 (3,015,203)
Benefit payments and refunds (528,884) (528,884) -
Other (net transfer) - (203,705) 203,705
Net changes 1,072,079 3,223,477 (2,151,398)
BALANCES AT DECEMBER 31, 2017 $ 23,558,943 $ 21,916,800 $ 1,642,143
Changes in assumptions related to price inflation, salary increases, retirement age,
and mortality rates were made in 2017.
- 42 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 43 -
12. 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, 2018, the Village recognized pension expense of
$645,967.
At April 30, 2018, 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 $ 107,689 $ 77,474
Assumption changes 12,083 641,860
Net difference between projected and
actual earnings on pension plan investments
-
745,885
Employer contributions after the measurement date 219,436 -
TOTAL $ 339,208 $ 1,465,219
$219,436 reported as deferred outflows of resources related to pensions resulting
from village contributions subsequent to the measurement date will be recognized as
a reduction of net pension liability in the reporting year ending April 30, 2019. Other
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,
2019 $ (235,260)
2020 (232,547)
2021 (441,338)
2022 (436,302)
2023 -
Therafter -
TOTAL $ (1,345,447)
- 43 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 44 -
12. 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 (asset) to changes in
the discount rate. The table below presents the net pension liability (asset) of the
Village calculated using the discount rate of 7.50% as well as what the Village’s net
pension liability (asset) would be if it were calculated using a discount rate that is 1
percentage point lower (6.50%) or 1 percentage point higher (8.50%) than the current
rate:
1% Decrease
Current
Discount Rate
1% Increase
(6.50%) (7.50%) (8.50%)
Net pension liability (asset) $ 5,188,062 $ 1,642,143 $ (1,216,516)
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.
- 44 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 45 -
12. DEFINED BENEFIT PENSION PLANS (Continued)
a. Plan Descriptions (Continued)
Police Pension Plan (Continued)
Plan Membership
At April 30, 2018, the measurement date, membership consisted of:
Inactive plan members or beneficiaries
currently receiving benefits 9
Inactive plan members entitled to but not
yet receiving benefits 1
Active plan members 55
TOTAL 65
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 2.50% 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 2.50% of such
- 45 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 46 -
12. 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, 2018,
the Village’s contribution was 24.70% 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 The Illinois Funds. 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.
- 46 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 47 -
12. DEFINED BENEFIT PENSION PLANS (Continued)
a. Plan Descriptions (Continued)
Police Pension Plan (Continued)
Investment Policy (Continued)
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
Large cap domestic equity 30% 6.60%
Small cap domestic equity 10% 8.50%
International equity 15% 6.40%
Fixed income 45% 1.40%
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 Morningstar Analyst
Research Center - SBBI Data for the period of December 31, 1925 through
December 31, 2017. International Equity = the MSCI EAFE Index from
December 31, 1969 through December 31, 2017.
Investments with a maturity of less than one year when purchased, non-negotiable
certificates of deposit, and money market mutual funds are stated at cost or amortized
cost. Investments with a maturity greater than one year when purchased and all
investments of the pension trust fund are stated at fair value. Fair value is the price
that would be received to sell an asset or paid to transfer a liability in an orderly
transaction between market participants at the measurement date.
- 47 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 48 -
12. DEFINED BENEFIT PENSION PLANS (Continued)
a. Plan Descriptions (Continued)
Police Pension Plan (Continued)
Investment Valuations
The Plan categorizes the fair value measurements within the fair value hierarchy
established by generally accepted accounting principles. The hierarchy is based on
the valuation inputs used to measure the fair value of the asset. Level 1 inputs are
quoted prices in active markets for identical assets; Level 2 inputs are significant
other observable inputs; and Level 3 inputs are significant unobservable inputs.
The Plan had the following recurring fair value measurements as of April 30, 2018.
The U.S. Treasury obligations and equity mutual funds are valued using daily quoted
prices (Level 1 inputs). The U.S. agency obligations and municipal bonds are valued
using evaluated pricing (Level 2 inputs). The real estate investment trust is valued
using appraisals, internally prepared valuations, and discounted cash flow analysis
(Level 3 inputs).
Investment Rate of Return
For the year ended April 30, 2018, the annual money-weighted rate of return on
pension plan investments, net of pension plan investment expense, was 7.21%. 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.
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.
- 48 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 49 -
12. DEFINED BENEFIT PENSION PLANS (Continued)
a. Plan Descriptions (Continued)
Police Pension Plan (Continued)
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 are rated Aaa or
are not rated. The money market mutual funds are rated AAA. The municipal bonds
are rated 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.
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, 2018, Federal Home Loan Bank and Federal Farm Credit Bank
obligations exceeded 5.00% of the Plan’s total investments. Such investments
comprised approximately 12.82% and 9.16%, respectively, of the Plan’s investments.
- 49 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 50 -
12. DEFINED BENEFIT PENSION PLANS (Continued)
a. Plan Descriptions (Continued)
Police Pension Plan (Continued)
Discount Rate
The discount rate used to measure the total pension liability was 6.75% (7.50% in the
prior year). 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 6.75% was applied to all periods of
projected benefit payments to determine the total pension liability.
Changes in Net Pension Liability
(a)
Total Pension
(b)
Plan
Fiduciary
(a) - (b)
Net
Pension
Liability Net Position Liability
BALANCES AT MAY 1, 2017 $ 38,638,620 $ 28,127,856 $ 10,510,764
Changes for the period
Service cost 1,273,722 - 1,273,722
Interest 2,879,343 - 2,879,343
Difference between expected
and actual experience (549,216) - (549,216)
Employer contributions - 1,364,479 (1,364,479)
Assumption changes 1,138,995 - 1,138,995
Employee contributions - 524,835 (524,835)
Net investment income - 2,098,694 (2,098,694)
Benefit payments and refunds (494,765) (494,765) -
Administrative expense - (42,745) 42,745
Net changes 4,248,079 3,450,498 797,581
BALANCES AT APRIL 30, 2018 $ 42,886,699 $ 31,578,354 $ 11,308,345
There was a change with respect to actuarial assumptions in 2018 to reflect revised
expectations with respect to mortality rate and the new Department of Insurance
assumptions reported in the GRS Experience Study released in 2017.
- 50 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 51 -
12. 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, 2018 using the following actuarial methods and assumptions:
Actuarial valuation date April 30, 2018
Actuarial cost method Entry-age normal
Assumptions
Inflation 2.50%
Salary increases 3.50% to 11.00%
Investment rate of return 6.75%
Cost of living adjustments 3.00%
Asset valuation method Market value
Mortality rates were based on the RP 2014 Mortality Table (BCHA) projected to
2018 using improvement scale MP-2017. The other non-economic actuarial
assumptions used in the April 30, 2018 valuation were based on the results of an
actuarial experience study conducted by the Illinois Department of Insurance (GRS)
in 2017.
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 6.75% 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 (5.75%) or 1 percentage point higher (7.75%) than the current rate:
1% Decrease
Current
Discount Rate
1% Increase
(5.75%) (6.75%) (7.75%)
Net pension liability $ 19,304,714 $ 11,308,345 $ 4,925,958
- 51 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 52 -
12. 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, 2018, the Village recognized police pension expense of
$1,992,682.
At April 30, 2018, 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 $ $ 956,361
Changes in assumptions 1,792,683 720,191
Net difference between projected and
actual earnings on pension plan investments
807,678
228,176
TOTAL $ 2,600,361 $ 1,904,728
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,
2019 $ 481,993
2020 481,993
2021 (1,046)
2022 (156,809)
2023 (160,809)
Thereafter 50,311
TOTAL $ 695,633
- 52 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 53 -
13. 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.
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. 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,
2018, 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 May 1, 2017 (census date), membership consisted of:
Inactive employees or beneficiaries currently
receiving benefit payments
3
Inactive employees entitled to but not yet
receiving benefit payments
-
Active employees 129
TOTAL 132
- 53 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 54 -
13. OTHER POSTEMPLOYMENT BENEFITS (Continued)
d. Total OPEB Liability
The Village’s total OPEB liability of $1,390,916 was measured as of April 30, 2018
and was determined by an actuarial valuation as of that date.
e. Actuarial Assumptions and Other Inputs
The total OPEB liability at April 30, 2018, as determined by an actuarial valuation as
of May 1, 2017 actuarial valuation, was determined using the following actuarial
assumptions and other inputs, applied to all periods included in the measurement,
unless otherwise specified. The total OPEB liability was rolled forward by the
actuary using updating procedures to April, 30, 2018, including updating the discount
rate at April 30, 2018, as noted below.
Actuarial cost method Entry-age
Actuarial value of assets Market value
Inflation 2.50%
Salary Increases 4.00%
Discount rate 3.63%
Healthcare cost trend rates 4.50% to 5.50% Initial
4.50% Ultimate
Police employees that suffer a catastrophic injury or are killed in the line of duty may
receive 100% village paid lifetime coverage for the employee, their spouse, and each
dependent child under the Public Safety Employee Benefits Act.
The discount rate was based on the index rate for tax exempt general obligation
municipal bonds rated AA or better at April 30, 2018.
Mortality rates were based on the RP-2014 Healthy Annuitant Mortality Table for
Males or Females, as appropriate, with adjustments for mortality improvements
based on scale AA.
The actuarial assumptions used in the May 1, 2017 valuation are based on 10%
participation assumed, with 70% electing spouse coverage.
- 54 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 55 -
13. OTHER POSTEMPLOYMENT BENEFITS (Continued)
f. Changes in the Total OPEB Liability
Total OPEB
Liability
BALANCES AT MAY 1, 2017 $ 1,345,855
Changes for the period
Service cost 20,960
Interest 48,256
Difference between expected
and actual experience (293,399)
Changes in benefit terms -
Changes in assumptions 302,198
Benefit payments (32,954)
Net changes 45,061
BALANCES AT APRIL 30, 2018 $ 1,390,916
There were changes in assumptions related to the discount rate and health care trend
rate, in addition the decrements were changed to those in the most recent IMRF and
Plainfield Police Pension Fund pension plan valuation reports.
g. Rate Sensitivity
The following is a sensitivity analysis of the total OPEB liability to changes in the
discount rate and the healthcare cost trend rate. The table below presents the total
OPEB liability of the Village calculated using the discount rate of 3.63% as well as
what the Village total OPEB liability would be if it were calculated using a discount
rate that is 1 percentage point lower (2.63%) or 1 percentage point higher (4.63%)
than the current rate:
1% Decrease
Current
Discount Rate
1% Increase
(2.63%) (3.63%) (4.63%)
Total OPEB liability $ 1,661,549 $ 1,390,916 $ 1,183,289
- 55 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 56 -
13. OTHER POSTEMPLOYMENT BENEFITS (Continued)
g. Rate Sensitivity (Continued)
The table below presents the total OPEB liability of the Village calculated using the
healthcare rate of 4.50% to 5.50% as well as what the Village’s total OPEB liability
would be if it were calculated using a healthcare rate that is 1 percentage point lower
(3.50% to 4.50%) or 1 percentage point higher (5.50% to 6.50%) than the current
rate:
1% Decrease
Current
Healthcare
Rate
1% Increase
(3.50% to
4.50%)
(4.50% to
5.50%)
(5.50% to
6.50%)
Total OPEB liability $ 1,171,351 $ 1,390,916 $ 1,672,883
h. OPEB Expense and Deferred Outflows of Resources and Deferred Inflows of
Resources Related to OPEB
For the year ended April 30, 2018, the Village recognized OPEB expense of $70,250.
At April 30, 2018, the Village reported deferred outflows of resources and deferred
inflows of resources related to OPEB from the following sources:
Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
Differences between expected and
actual experience $ 250,134 $ 258,906
Changes in assumptions 163,282 146,745
TOTAL $ 413,416 $ 405,651
- 56 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 57 -
13. OTHER POSTEMPLOYMENT BENEFITS (Continued)
h. OPEB Expense and Deferred Outflows of Resources and Deferred Inflows of
Resources Related to OPEB (Continued)
Amounts reported as deferred outflows of resources and deferred inflows of
resources will be recognized in OPEB expense as follows:
Year Ending
April 30
2019 $ 1,034
2020 1,034
2021 1,034
2022 1,034
2023 1,034
Thereafter 2,595
TOTAL $ 7,765
14. CHANGE IN ACCOUNTING PRINCIPLE
For the fiscal year ended April 30, 2018, the Village implemented GASB Statement No.
75. With the implementation, the Village is required to retroactively record the total
postemployment benefit liability and write-off the net OPEB obligation.
The beginning net position reported in the government-wide financial statements has been
restated to reflect the new guidance as follows:
GOVERNMENTAL ACTIVITIES
BEGINNING NET POSITION, AS PREVIOUSLY REPORTED $ 228,129,919
Write-off net OPEB obligation 265,230
Total OPEB liability (1,294,137)
Total restatement (1,028,907)
BEGINNING NET POSITION, AS RESTATED $ 227,101,012
- 57 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO FINANCIAL STATEMENTS (Continued)
- 58 -
14. CHANGE IN ACCOUNTING PRINCIPLE (Continued)
BUSINESS-TYPE ACTIVITIES
BEGINNING NET POSITION, AS PREVIOUSLY REPORTED $ 99,030,478
Total OPEB liability (51,718)
Total restatement (51,718)
BEGINNING NET POSITION, AS RESTATED $ 98,978,760
- 58 -
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, 2018
Original Final
Budget Budget Actual
REVENUES
Taxes 6,960,000$ 6,960,000$ 6,701,509$
Licenses and permits 1,111,200 1,111,200 1,094,102
Intergovernmental 9,860,600 9,860,600 10,335,232
Charges for services 5,525,415 5,525,415 5,658,247
Fines and forfeits 698,100 698,100 643,766
Investment income 35,000 35,000 117,204
Miscellaneous 119,000 119,000 709,729
Total revenues 24,309,315 24,309,315 25,259,789
EXPENDITURES
Current
General government 4,358,730 4,358,730 4,272,527
Public safety 12,633,360 12,633,360 11,948,932
Highways and streets 7,542,225 7,542,225 7,695,118
Total expenditures 24,534,315 24,534,315 23,916,577
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES (225,000) (225,000) 1,343,212
OTHER FINANCING SOURCES (USES)
Transfers in 220,000 220,000 18,000
Transfers (out)- - (532,831)
Sale of capital assets 5,000 5,000 4,500
Total other financing sources (uses)225,000 225,000 (510,331)
NET CHANGE IN FUND BALANCE -$ -$ 832,881
FUND BALANCE, MAY 1 10,819,162
FUND BALANCE, APRIL 30 11,652,043$
(See independent auditor's report.)
- 59 -
FISCAL YEAR ENDED APRIL 30,2016 2017 2018
Actuarially determined contribution 632,404$ 651,811$ 683,524$
Contributions in relation to the actuarially
determined contribution 632,404 651,811 683,524
CONTRIBUTION DEFICIENCY (Excess)-$ -$ -$
Covered-employee payroll 5,619,601$ 5,820,182$ 6,159,861$
Contributions as a percentage of
covered-employee payroll 11.25%11.20%11.10%
Notes to Required Supplementary Information
Ultimately,this schedule should present information for the last ten years.However,until ten
years of information can be compiled,information will be presented for as many years as is
available.
VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF EMPLOYER CONTRIBUTIONS
ILLINOIS MUNICIPAL RETIREMENT FUND
Last Three Fiscal Years
The information presented was determined as part of the actuarial valuation as of January 1 of
the prior calendar year.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 26 years,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 20.00%corridor;and the significant actuarial assumptions
were wage growth at 3.50%,price inflation at 2.75%,salary increases of 3.75%to 14.50%,
including inflation, and an investment rate of return at 7.50% annually.
(See independent auditor's report.)
- 60 -
FISCAL YEAR ENDED APRIL 30,2011 2012 2013 2014 2015 2016 2017 2018
Actuarially determined contribution 845,701$ 806,757$ 808,308$ 808,112$ 935,192$ 902,596$ 1,099,147$ 1,295,962$
Contributions in relation to the actuarially
determined contribution 704,076 897,431 888,578 886,519 898,172 948,549 1,101,142 1,364,479
CONTRIBUTION DEFICIENCY (Excess)141,625$ (90,674)$ (80,270)$ (78,407)$ 37,020$ (45,953)$ (1,995)$ (68,517)$
Covered-employee payroll 4,173,528$ 4,375,606$ 4,563,700$ 4,732,754$ 4,814,515$ 5,093,977$ 5,249,845$ 5,525,220$
Contributions as a percentage of
covered-employee payroll 16.87%20.51%19.47%18.73%18.66%18.62%20.97%24.70%
Notes to Required Supplementary Information
Ultimately,this schedule should present information for the last ten years.However,until ten years of information can be compiled,information will be presented for as many
years as is available.
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 23
years;the asset valuation method was at market value;and the significant actuarial assumptions were an investment rate of return at 6.75%annually (7.50%in 2017),projected
salary increases assumption of 3.50% to 11.00% compounded annually, and inflation of 2.50% compounded annually.
VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF EMPLOYER CONTRIBUTIONS
POLICE PENSION FUND
Last Eight Fiscal Years
(See independent auditor's report.)
- 61 -
MEASUREMENT DATE DECEMBER 31,2015 2016 2017
TOTAL PENSION LIABILITY
Service cost 655,050$ 653,238$ 667,207$
Interest 1,440,465 1,549,109 1,691,702
Differences between expected and actual experience (198,500) 173,858 7,116
Changes of assumptions 30,956 (66,399) (765,062)
Benefit payments, including refunds of member contributions (485,137) (412,666) (528,884)
Net change in total pension liability 1,442,834 1,897,140 1,072,079
Total pension liability - beginning 19,146,890 20,589,724 22,486,864
TOTAL PENSION LIABILITY - ENDING 20,589,724$ 22,486,864$ 23,558,943$
PLAN FIDUCIARY NET POSITION
Contributions - employer 637,826$ 669,937$ 669,286$
Contributions - member 253,640 267,974 271,577
Net investment income 85,777 1,184,782 3,015,203
Benefit payments, including refunds of member contributions (485,137) (412,666) (528,884)
Administrative expense/other (466,427) 5,449 (203,705)
Net change in plan fiduciary net position 25,679 1,715,476 3,223,477
Plan fiduciary net position - beginning 16,952,168 16,977,847 18,693,323
PLAN FIDUCIARY NET POSITION - ENDING 16,977,847$ 18,693,323$ 21,916,800$
EMPLOYER'S NET PENSION LIABILITY 3,611,877$ 3,793,541$ 1,642,143$
Plan fiduciary net position
as a percentage of the total pension liability 82.46%83.13%93.03%
Covered-employee payroll 5,619,601$ 5,954,999$ 6,035,047$
Employer's net pension liability
as a percentage of covered-employee payroll 64.30%63.70%27.20%
Notes to Required Supplementary Information
Ultimately,this schedule should present information for the last ten years.However,until ten years of information can be
compiled, information will be presented for as many years as is available.
There was a change in the actuarial assumptions for the discount rate in 2015 and 2016.
VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF CHANGES IN THE EMPLOYER'S
NET PENSION LIABILITY AND RELATED RATIOS
ILLINOIS MUNICIPAL RETIREMENT FUND
Last Three Fiscal Years
Changes in assumptions related to price inflation, salary increases, retirement age, and mortality rates were made in 2017.
(See independent auditor's report.)
- 62 -
MEASUREMENT DATE APRIL 30,2015 2016 2017 2018
TOTAL PENSION LIABILITY
Service cost 1,098,445$ 1,194,830$ 1,290,807$ 1,273,722$
Interest 2,039,130 2,374,855 2,718,699 2,879,343
Changes of benefit terms - - - -
Differences between expected and actual experience (319,230) (220,856) (469,897) (549,216)
Changes of assumptions 2,082,221 1,674,600 (928,943) 1,138,995
Benefit payments, including refunds of member contributions (413,533) (434,932) (442,742) (494,765)
Net change in total pension liability 4,487,033 4,588,497 2,167,924 4,248,079
Total pension liability - beginning 27,395,166 31,882,199 36,470,696 38,638,620
TOTAL PENSION LIABILITY - ENDING 31,882,199$ 36,470,696$ 38,638,620$ 42,886,699$
PLAN FIDUCIARY NET POSITION
Contributions - employer 898,172$ 948,599$ 1,101,142$ 1,364,479$
Contributions - member 522,107 490,958 509,526 524,835
Net investment income 1,466,441 (72,695) 2,276,889 2,098,694
Benefit payments, including refunds of member contributions (413,533) (434,932) (442,742) (494,765)
Administrative expense (33,752) (32,827) (41,812) (42,745)
Net change in plan fiduciary net position 2,439,435 899,103 3,403,003 3,450,498
Plan fiduciary net position - beginning 21,386,315 23,825,750 24,724,853 28,127,856
PLAN FIDUCIARY NET POSITION - ENDING 23,825,750$ 24,724,853$ 28,127,856$ 31,578,354$
EMPLOYER'S NET PENSION LIABILITY 8,056,449$ 11,745,843$ 10,510,764$ 11,308,345$
Plan fiduciary net position
as a percentage of the total pension liability 74.73%67.79%72.80%73.63%
Covered-employee payroll 4,814,515$ 5,093,977$ 5,249,845$ 5,525,220$
Employer's net pension liability
as a percentage of covered-employee payroll 167.34%230.58%200.21%204.67%
Notes to Required Supplementary Information
There was a change with respect to actuarial assumptions in 2017 to reflect revised expectations with respect to mortality rates.
Ultimately,this schedule should present information for the last ten years.However,until ten years of information can be compiled,
information will be presented for as many years as is available.
There was a change with respect to actuarial assumptions in 2015 and 2016 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
Last Four Fiscal Years
There was a change with respect to actuarial assumptions in 2018 to reflect revised expectations with respect to mortality rate and the new
Department of Insurance assumptions reported in the GRS Experience Study released in 2017. The discount rate was also changed in 2018.
(See independent auditor's report.)
- 63 -
MEASUREMENT DATE APRIL 30,2018
TOTAL OPEB LIABILITY
Service cost 20,960$
Interest 48,256
Changes of benefit terms -
Differences between expected and actual experience (293,399)
Changes of assumptions 302,198
Benefit payments (32,954)
Net change in total OPEB liability 45,061
Total OPEB liability - beginning 1,345,855
TOTAL OPEB LIABILITY - ENDING 1,390,916$
Covered-employee payroll 10,735,898$
Employer's total OPEB liability
as a percentage of covered-employee payroll 12.96%
Notes to Required Supplementary Information
No assets are accumulated in a trust that meets the criteria in paragraph 4 of GASB Statement No. 75.
Last Fiscal Year
There were changes in assumptions related to the discount rate and health care trend rate.In addition,
the decrements were changed to those in the most recent IMRF and Plainfield Police Pension Fund
pension plan actuarial valuation reports.
Ultimately,this schedule should present information for the last ten years.However,until ten years of
information can be compiled, information will be presented for as many years as is available.
VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF CHANGES IN THE EMPLOYER'S
TOTAL OPEB LIABILITY AND RELATED RATIOS
OTHER POSTEMPLOYMENT BENEFIT PLAN
(See independent auditor's report.)
- 64 -
FISCAL YEAR ENDED APRIL 30,2015 2016 2017 2018
Annual money-weighted rate of return,6.64%(0.29%)8.93%7.21%
net of investment expense
Notes to Required Supplementary Information
VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF INVESTMENT RETURNS
POLICE PENSION FUND
Last Four Fiscal Years
Ultimately,this schedule should present information for the last ten years.However,until ten years of
information can be compiled, information will be presented for as many years as is available.
(See independent auditor's report.)
- 65 -
- 47 -
VILLAGE OF PLAINFIELD, ILLINOIS
NOTES TO REQUIRED SUPPLEMENTARY INFORMATION
April 30, 2018
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
Motor Fuel Tax $ 1,005,000 $ 1,052,089
TIF Fund 575,000 1,071,698
Water and Sewer 13,163,375 13,387,799
Police Pension 611,000 637,087
- 66 -
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, 2018
Original Final
Budget Budget Actual
TAXES
Property taxes 3,160,000$ 3,160,000$ 3,238,347$
Property tax - police pension 1,370,000 1,370,000 1,364,479
Property taxes - road and bridge 375,000 375,000 362,941
Property taxes - IMRF 575,000 575,000 573,026
Home rule sales tax 500,000 500,000 -
Personal property replacement tax 45,000 45,000 55,764
Hotel/motel tax - - 1,438
Amusement tax 5,000 5,000 8,220
Local motor fuel tax 930,000 930,000 1,097,294
Total taxes 6,960,000 6,960,000 6,701,509
LICENSES AND PERMITS
Licenses
Liquor 100,000 100,000 112,919
Contractors 35,000 35,000 50,100
Cigarette 5,000 5,000 6,500
Scavenger 200 200 100
Business 35,000 35,000 40,488
Total licenses 175,200 175,200 210,107
Permits
Building 925,000 925,000 855,481
Sign 5,000 5,000 4,394
Special movement 5,000 5,000 21,950
Solicitors 1,000 1,000 2,170
Total permits 936,000 936,000 883,995
Total licenses and permits 1,111,200 1,111,200 1,094,102
INTERGOVERNMENTAL
Grant revenue 35,600 35,600 56,546
Sales tax 5,400,000 5,400,000 5,642,698
Use tax 875,000 875,000 1,046,709
Income tax 3,550,000 3,550,000 3,589,279
Total intergovernmental 9,860,600 9,860,600 10,335,232
CHARGES FOR SERVICES
Rental income 50,000 50,000 49,200
Zoning applications 10,000 10,000 28,056
Accident report copies 4,000 4,000 5,876
Maps and ordinances copies 3,000 3,000 2,639
Garbage fees 4,162,315 4,162,315 4,213,157
Engineering services 25,000 25,000 13,375
(This schedule is continued on the following page.)
- 67 -
VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF REVENUES - BUDGET AND ACTUAL (Continued)
GENERAL FUND
For the Year Ended April 30, 2018
Original Final
Budget Budget Actual
CHARGES FOR SERVICES (Continued)
Special detail reimbursement 45,000$ 45,000$ 124,908$
Tower rent 50,000 50,000 41,837
Telephone franchise fee 250,000 250,000 153,127
Cable franchise fee 480,000 480,000 523,440
Amphitheater rent 500 500 1,375
School liaison reimbursement 400,000 400,000 454,895
HIDTA/organized crime reimbursement 10,000 10,000 12,553
Community room rental 3,000 3,000 4,259
Sex offenders registration - - 1,350
Parking lot revenues 2,000 2,000 1,950
Impound fees 30,000 30,000 26,250
Child safety seats 100 100 -
Miscellaneous 500 500 -
Total charges for services 5,525,415 5,525,415 5,658,247
FINES AND FORFEITS
Will County Circuit Court fines 325,000 325,000 319,256
Kendall County Circuit Court fines 1,000 1,000 2,228
Alcohol fines 100 100 -
Traffic and ordinance fines 130,000 130,000 128,239
Drug forfeiture 225,000 225,000 51,270
False alarm fees 7,000 7,000 3,100
Administrative fines - late fees 10,000 10,000 8,940
Asset seizure - federal (Department of Justice equitable sharing)- - 128,049
Court fines - drug account - - 2,684
Total fines and forfeits 698,100 698,100 643,766
INVESTMENT INCOME 35,000 35,000 117,204
MISCELLANEOUS
Other reimbursements 80,000 80,000 210,915
Other receipts 25,000 25,000 16,712
Other miscellaneous - - 453,380
PEMA donation - - 3,000
Miscellaneous donations 10,000 10,000 20,772
Event sponsorship program 4,000 4,000 4,950
Total miscellaneous 119,000 119,000 709,729
TOTAL REVENUES 24,309,315$ 24,309,315$ 25,259,789$
(See independent auditor's report.)
- 68 -
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL
GENERAL FUND
For the Year Ended April 30, 2018
Original Final
Budget Budget Actual
GENERAL GOVERNMENT
Legislative 406,130$ 406,130$ 344,418$
Administration 1,054,000 1,054,000 1,235,327
Community relations 180,450 180,450 161,327
Facility management 163,600 163,600 157,970
Human resources 282,500 282,500 259,875
Information technology 703,300 703,300 682,495
Planning 560,750 560,750 549,991
Building 1,008,000 1,008,000 865,696
Subtotal 4,358,730 4,358,730 4,257,099
Insurance allocation - - 15,428
Total general government 4,358,730 4,358,730 4,272,527
PUBLIC SAFETY
Police department
Executive 622,711 622,711 539,948
Police operations 7,771,878 7,771,878 7,545,111
Police administration 1,359,755 1,359,755 1,270,438
Police records 705,633 705,633 677,475
Seizure/forfeiture 225,000 225,000 85,954
Police special activities 36,000 36,000 94,689
Community services 1,138,320 1,138,320 1,083,739
Court services 308,263 308,263 257,671
Nondivisional 132,480 132,480 118,430
Total police department 12,300,040 12,300,040 11,673,455
Police commission 20,521 20,521 11,984
PEMA 312,799 312,799 231,037
Subtotal 12,633,360 12,633,360 11,916,476
Insurance allocation - - 32,456
Total public safety 12,633,360 12,633,360 11,948,932
VILLAGE OF PLAINFIELD, ILLINOIS
(This schedule is continued on the following page.)
- 69 -
VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (Continued)
GENERAL FUND
For the Year Ended April 30, 2018
Original Final
Budget Budget Actual
HIGHWAYS AND STREETS
Waste hauler 3,808,325$ 3,808,325$ 3,821,167$
Administration 480,100 480,100 466,795
Street maintenance 2,789,000 2,789,000 2,970,240
Vehicle maintenance 286,500 286,500 282,971
Forestry 178,300 178,300 144,183
Subtotal 7,542,225 7,542,225 7,685,356
Insurance allocation - - 9,762
Total highways and streets 7,542,225 7,542,225 7,695,118
TOTAL EXPENDITURES 24,534,315$ 24,534,315$ 23,916,577$
(See independent auditor's report.)
- 70 -
VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF DETAILED EXPENDITURES - BUDGET AND ACTUAL
GENERAL FUND
For the Year Ended April 30, 2018
Original Final
Budget Budget Actual
GENERAL GOVERNMENT
Legislative
Salaries - President 24,000$ 24,000$ 23,667$
Salaries - Elected Officials 25,000 25,000 24,200
Salaries - Liquor Commission 1,500 1,500 1,500
Salaries - Village Treasurer 2,500 2,500 2,500
FICA 3,300 3,300 3,055
Medicare 780 780 714
IMRF 900 900 233
Employee insurance 150 150 141
Travel/training 10,000 10,000 6,145
Replacement equipment 3,000 3,000 -
Dues and subscriptions 35,000 35,000 33,946
Public relations 115,000 115,000 82,765
Cable TV 10,000 10,000 20
Economic incentive rebate 175,000 175,000 165,532
Total legislative 406,130 406,130 344,418
Administration
Salaries - full-time 710,000 710,000 718,382
Salaries - part-time 50,000 50,000 52,773
Salaries - overtime 1,000 1,000 2,734
FICA 47,500 47,500 44,176
Medicare 11,000 11,000 11,215
IMRF 84,000 84,000 86,552
Employee insurance 109,000 109,000 99,560
Deferred compensation contribution 25,000 25,000 22,077
Travel/training 15,000 15,000 9,320
Unemployment insurance 7,000 7,000 3,876
Telephone/internet 5,000 5,000 4,736
Cellular phones/pagers 2,500 2,500 2,262
Dues and subscriptions 5,000 5,000 3,759
Building supplies - - 74
Office supplies/postage 30,000 30,000 31,296
Gas, oil, wash, and mileage 9,500 9,500 8,205
Maintenance contract/lease 8,000 8,000 7,908
Recording fees 2,000 2,000 398
Legal notices 2,500 2,500 2,085
Attorney legal fees 50,000 50,000 41,774
Contractual services 75,000 75,000 58,140
Engineer fees 5,000 5,000 -
Office furniture and equipment 5,000 5,000 641
Contingencies 45,000 45,000 -
Settlement charges - - 962
Bad debt expense - - 272,422
Subtotal administration 1,304,000 1,304,000 1,485,327
Less water and sewer reimbursement (250,000) (250,000) (250,000)
Total administration 1,054,000 1,054,000 1,235,327
(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, 2018
Original Final
Budget Budget Actual
GENERAL GOVERNMENT (Continued)
Community relations
Salaries - full-time 101,000$ 101,000$ 99,201$
FICA 6,200 6,200 5,680
Medicare 1,450 1,450 1,328
IMRF 11,500 11,500 11,231
Employee insurance 20,700 20,700 19,865
Deferred compensation contribution 4,000 4,000 3,608
Travel/training 1,500 1,500 155
Telephone/internet 500 500 474
Software 2,500 2,500 -
Public relations 17,000 17,000 10,647
Office supplies/postage 750 750 94
Dues and subscriptions 750 750 1,316
Gas, oil, wash, and mileage 100 100 -
Marketing and promotion 2,500 2,500 500
Settler's Park 7,500 7,500 6,892
Contractual services 2,500 2,500 336
Total community relations 180,450 180,450 161,327
Facility management
Salaries - full-time 50,000 50,000 45,909
Salaries - overtime 2,500 2,500 4,673
FICA 3,300 3,300 2,996
Medicare 800 800 701
IMRF 5,500 5,500 5,586
Building maintenance supplies 7,500 7,500 11,465
Deferred compensation contribution - - 343
Contractual services 40,000 40,000 46,024
Office supplies/postage - - 149
Employee insurance 14,000 14,000 11,946
Building improvements 40,000 40,000 28,178
Total facility management 163,600 163,600 157,970
Human resources
Salaries - full-time 165,000 165,000 163,895
Salaries - overtime 500 500 -
FICA 10,500 10,500 9,803
Medicare 2,500 2,500 2,293
IMRF 19,000 19,000 18,321
Employee insurance 43,500 43,500 35,224
Deferred compensation contribution 7,000 7,000 5,595
Travel/training 6,500 6,500 5,979
Telephone/internet 1,000 1,000 947
Cellular telephone/pager 600 600 551
Office supplies/postage 1,500 1,500 774
Dues and subscriptions 3,200 3,200 928
(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, 2018
Original Final
Budget Budget Actual
GENERAL GOVERNMENT (Continued)
Human resources (Continued)
Gas, oil, wash, and mileage 1,400$ 1,400$ 303$
Public relations 12,000 12,000 11,134
Marketing and promotion 300 300 -
Contractual services 8,000 8,000 4,128
Total human resources 282,500 282,500 259,875
Information technology
Salaries - full-time 240,000 240,000 241,013
Salaries - overtime 500 500 -
FICA 15,000 15,000 14,804
Medicare 3,500 3,500 3,462
IMRF 28,000 28,000 26,929
Employee insurance 56,000 56,000 39,617
Deferred compensation contribution 7,000 7,000 8,540
Travel/training 14,500 14,500 14,951
Telephone/internet 500 500 474
Cellular telephone/pagers 2,340 2,340 2,448
Office supplies/postage 1,400 1,400 1,759
Dues and subscriptions 700 700 484
Gas, oil, wash, and mileage 400 400 630
Uniforms/clothing 300 300 303
Software licensing/renewals 255,380 255,380 248,071
Software 47,900 47,900 49,883
Contractual services 17,880 17,880 17,810
Computers 12,000 12,000 11,317
Total information technology 703,300 703,300 682,495
Planning
Salaries - full-time 315,000 315,000 338,816
Compensation - plan commission 4,000 4,000 2,790
Salaries - overtime 2,500 2,500 1,867
FICA 20,000 20,000 20,877
Medicare 4,700 4,700 4,883
IMRF 35,000 35,000 38,123
Employee insurance 70,500 70,500 72,259
Deferred compensation contribution 12,000 12,000 5,371
Travel/training 7,000 7,000 7,965
Unemployment insurance 1,000 1,000 884
Telephone/internet 3,000 3,000 2,400
Cellular phones/pagers 1,800 1,800 876
Office supplies/postage 10,500 10,500 15,490
Dues and subscriptions 3,000 3,000 4,927
Gas, oil, wash, and mileage 750 750 48
Maintenance contract/lease 3,500 3,500 600
(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, 2018
Original Final
Budget Budget Actual
GENERAL GOVERNMENT (Continued)
Planning (Continued)
Vehicle maintenance 1,500$ 1,500$ -$
Legal fees 5,000 5,000 2,801
Special projects/programs 15,000 15,000 15,150
Contractual services 35,000 35,000 1,919
Engineer fees 10,000 10,000 11,945
Total planning 560,750 560,750 549,991
Building
Salaries - full-time 633,000 633,000 578,507
Salaries - part-time 5,000 5,000 -
Salaries - overtime 5,000 5,000 1,003
FICA 39,800 39,800 34,478
Medicare 9,300 9,300 8,063
IMRF 70,000 70,000 64,335
Employee insurance 157,000 157,000 138,327
Deferred compensation contribution 7,000 7,000 8,674
Travel/training 7,500 7,500 13,655
Unemployment insurance 1,500 1,500 1,500
Telephone/internet 1,500 1,500 538
Cellular phones/pagers 6,000 6,000 3,740
Office supplies/postage 13,000 13,000 7,831
Dues and subscriptions 4,000 4,000 564
Gas, oil, wash, and mileage 1,000 1,000 818
Uniforms/clothing 900 900 497
Recording fees - - 1,720
Contractual services 46,500 46,500 1,446
Total building 1,008,000 1,008,000 865,696
Subtotal 4,358,730 4,358,730 4,257,099
Insurance allocation - - 15,428
Total general government 4,358,730 4,358,730 4,272,527
PUBLIC SAFETY
Police department
Executive
Salaries - full-time 315,000 315,000 299,913
Salaries - part-time 26,296 26,296 31,652
Salaries - overtime 3,000 3,000 336
FICA 21,346 21,346 19,524
Medicare 5,000 5,000 4,644
IMRF 23,375 23,375 21,480
Employee insurance 66,780 66,780 63,658
(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, 2018
Original Final
Budget Budget Actual
PUBLIC SAFETY (Continued)
Police department (Continued)
Executive (Continued)
Deferred compensation contribution 8,000$ 8,000$ 6,003$
Travel/training 9,975 9,975 2,113
Education/school 6,000 6,000 494
Unemployment insurance 20,000 20,000 18,909
Telephone/internet 605 605 1,384
Cellular phones/pagers 1,644 1,644 697
Office supplies/postage 11,950 11,950 5,687
Replacement supplies 3,500 3,500 1,097
Dues and subscriptions 7,050 7,050 3,380
Gas, oil, wash, and mileage 3,700 3,700 940
Uniforms/clothing 1,800 1,800 1,798
Maintenance contract/lease 7,190 7,190 6,422
Custodian 70,000 70,000 44,315
Vehicle equipment maintenance 2,500 2,500 449
Contractual services 8,000 8,000 4,073
Sex offender's registration fee - - 980
Total executive 622,711 622,711 539,948
Police operations
Salaries - full-time 3,918,296 3,918,296 3,612,010
Salaries - part-time - - 257,795
Salaries - overtime 380,000 380,000 331,280
FICA 266,494 266,494 253,591
Medicare 62,325 62,325 59,593
IMRF 54,538 54,538 42,654
Police pension contribution 1,370,000 1,370,000 1,364,479
Employee insurance 630,739 630,739 579,887
Deferred compensation contribution 85,000 85,000 92,270
Travel/training 46,100 46,100 32,525
Telephone/insurance 27,180 27,180 24,613
Cellular phones/pagers 6,564 6,564 5,368
Office supplies/postage 13,000 13,000 12,680
Replacement supplies 17,000 17,000 18,015
Dues and subscriptions 3,400 3,400 1,223
Gas, oil, wash, and mileage 100,000 100,000 81,113
Uniforms/clothing 33,850 33,850 41,291
Traffic programs 23,000 23,000 21,518
Ammunition/weapons 28,000 28,000 27,884
Radio maintenance 2,000 2,000 2,933
Maintenance contracts/lease 11,392 11,392 13,552
Bike unit 2,000 2,000 1,260
Vehicle maintenance 65,000 65,000 61,079
K-9 Unit 4,000 4,000 4,578
Animal control 14,000 14,000 6,710
Contractual services 15,000 15,000 12,479
Contractual services - WESCOM 593,000 593,000 582,731
Total police operations 7,771,878 7,771,878 7,545,111
(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, 2018
Original Final
Budget Budget Actual
PUBLIC SAFETY (Continued)
Police department (Continued)
Police administration
Salaries - full-time 859,940$ 859,940$ 815,503$
Salaries - overtime 113,000 113,000 85,112
FICA 60,322 60,322 63,061
Medicare 14,108 14,108 14,748
Employee insurance 152,801 152,801 167,976
Deferred compensation contribution 32,000 32,000 26,657
Travel/training 13,600 13,600 8,938
Telephone/internet 780 780 1,728
Cellular phones/pagers 5,544 5,544 9,243
Office supplies/postage 8,500 8,500 4,822
Replacement supplies 12,000 12,000 4,824
Dues and subscriptions 4,070 4,070 3,470
Gas, oil, wash, and mileage 29,000 29,000 15,810
Uniforms/clothing 5,300 5,300 6,105
Crime scene/evidence tech support 10,800 10,800 10,649
Community programs - explorer program 2,500 2,500 9,304
Radio maintenance 500 500 415
Maintenance contract/lease 8,920 8,920 3,825
Vehicle maintenance 15,500 15,500 11,889
Background check services 2,500 2,500 1,764
Accreditation 8,070 8,070 4,595
Total police administration 1,359,755 1,359,755 1,270,438
Police records
Salaries - full-time 463,022 463,022 445,733
Salaries - part-time - - 21,248
Salaries - overtime 6,000 6,000 7,263
FICA 29,079 29,079 28,561
Medicare 6,801 6,801 6,680
IMRF 31,086 31,086 34,268
Employee insurance 129,686 129,686 100,044
Deferred compensation contribution 15,000 15,000 11,047
Travel/training 2,100 2,100 4,063
Telephone/internet 780 780 1,728
Cellular phones/pagers 1,344 1,344 -
Office supplies/postage 13,450 13,450 10,377
Dues and subscriptions 425 425 50
Uniforms/clothing 2,400 2,400 2,828
Maintenance contracts/lease 4,460 4,460 3,585
Total police records 705,633 705,633 677,475
Seizure/forfeiture
Seizure/forfeiture expenditures 225,000 225,000 85,954
(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, 2018
Original Final
Budget Budget Actual
PUBLIC SAFETY (Continued)
Police department (Continued)
Police special activities
FICA 2,016$ 2,016$ 4,949$
Medicare 471 471 1,159
Mobile field force 1,000 1,000 201
Salaries - special activities 32,513 32,513 88,380
Total police special activities 36,000 36,000 94,689
Community services
Salaries - full-time 773,336 773,336 755,854
Salaries - part-time - - -
Salaries - overtime 25,000 25,000 49,410
FICA 49,497 49,497 42,711
Medicare 11,576 11,576 10,033
IMRF 5,534 5,534 6,224
Employee insurance 141,293 141,293 113,711
Deferred compensation contribution 7,500 7,500 17,519
Travel/training 11,680 11,680 14,172
Telephone/internet 780 780 1,728
Cellular phones/pagers 6,744 6,744 2,721
Office supplies/postage 3,400 3,400 1,333
Replacement supplies 5,200 5,200 7,735
Dues and subscriptions 1,900 1,900 1,260
Gas, oil, wash, and mileage 16,000 16,000 8,793
Uniform/clothing 5,500 5,500 6,271
Radio maintenance 24,800 24,800 7,813
Maintenance contracts/lease 2,180 2,180 -
Vehicle maintenance 14,000 14,000 8,627
D.A.R.E program 5,000 5,000 4,818
Shop with a cop 10,000 10,000 14,040
Chaplaincy program 4,600 4,600 1,330
Community programs 8,200 8,200 7,508
Community programs - alcohol/tobacco 4,600 4,600 128
Total community services 1,138,320 1,138,320 1,083,739
Court services
Salaries - full-time 124,000 124,000 126,146
Salaries - part-time 47,410 47,410 24,116
Salaries - overtime 1,000 1,000 110
FICA 10,548 10,548 9,039
Medicare 2,467 2,467 2,114
IMRF 20,415 20,415 16,862
Employee insurance 43,998 43,998 38,394
Deferred compensation contribution 5,500 5,500 4,843
Travel/training 3,000 3,000 993
(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, 2018
Original Final
Budget Budget Actual
PUBLIC SAFETY (Continued)
Police department (Continued)
Court services (Continued)
Telephone/internet 605$ 605$ 1,349$
Office supplies/postage 10,000 10,000 8,711
Dues and subscriptions 9,000 9,000 8,986
Uniforms/clothing 900 900 339
Maintenance contract/lease 1,920 1,920 1,920
Legal fees 27,500 27,500 13,749
Total court services 308,263 308,263 257,671
Nondivisional
Office furniture and equipment 11,000 11,000 716
Capital equipment 107,780 107,780 103,600
Contingencies 13,700 13,700 11,767
PEMA fundraising - - 2,347
Total nondivisional 132,480 132,480 118,430
Total police department 12,300,040 12,300,040 11,673,455
Police commission
Salaries - part-time 5,500 5,500 1,679
FICA 341 341 105
Medicare 80 80 25
Travel/training 1,000 1,000 -
Office supplies/postage 2,000 2,000 496
Dues and subscriptions 600 600 375
Legal fees 1,000 1,000 -
Police test/hiring 10,000 10,000 8,664
Contractual services - - 640
Total police commission 20,521 20,521 11,984
PEMA
Salaries - full-time 131,200 131,200 122,865
FICA 7,750 7,750 7,685
Medicare 1,813 1,813 1,797
Employee insurance 24,336 24,336 19,502
Deferred compensation contribution 4,000 4,000 1,700
Travel/training 4,000 4,000 1,299
Telephone/internet 5,400 5,400 6,263
Office supplies 1,300 1,300 185
Cellular phones/pager 5,200 5,200 2,775
Replacement supplies 11,000 11,000 2,374
Dues and subscriptions 4,000 4,000 2,228
Gas, oil, wash, and mileage 12,000 12,000 5,313
Supplies and hardware 2,000 2,000 585
Uniforms/clothing 5,000 5,000 4,215
(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, 2018
Original Final
Budget Budget Actual
PUBLIC SAFETY (Continued)
PEMA (Continued)
Emergency operation center 750$ 750$ -$
Public relations 2,000 2,000 -
Disaster plan/exercises/NIMS 3,000 3,000 -
Radio maintenance 15,000 15,000 9,856
Building maintenance 5,000 5,000 3,589
Vehicle maintenance 15,000 15,000 16,904
Maintenance contract/lease 1,800 1,800 1,295
Bike unit 500 500 16
Siren maintenance 20,000 20,000 10,214
Contractual services 5,250 5,250 1,315
Cadet program 5,500 5,500 1,545
Search and rescue 8,000 8,000 4,129
Furniture/equipment 2,000 2,000 304
Supplies and hardware - ESDA 2,000 2,000 370
Machinery and equipment 5,000 5,000 1,409
Contingencies 3,000 3,000 1,305
Total PEMA 312,799 312,799 231,037
Subtotal 12,633,360 12,633,360 11,916,476
Insurance allocation - - 32,456
Total public safety 12,633,360 12,633,360 11,948,932
HIGHWAYS AND STREETS
Waste hauler
Refuse hauler fees 3,808,325 3,808,325 3,821,167
Total waste hauler 3,808,325 3,808,325 3,821,167
Administration
Salaries - full-time 288,000 288,000 286,073
FICA 18,000 18,000 17,845
Medicare 4,200 4,200 4,285
IMRF 33,000 33,000 33,185
Employee insurance 59,500 59,500 53,141
Deferred compensation contribution 8,500 8,500 8,023
Travel/training 10,000 10,000 9,506
Unemployment insurance 4,000 4,000 4,696
Telephone/internet 19,000 19,000 27,957
Cellular phones/pagers 8,500 8,500 7,808
Office supplies/postage 2,500 2,500 2,935
Dues and subscriptions 3,000 3,000 2,533
Supplies/hardware 500 500 200
(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, 2018
Original Final
Budget Budget Actual
HIGHWAYS AND STREETS (Continued)
Administration
Gas, oil, wash, and mileage 300$ 300$ 120$
Radio maintenance 100 100 -
Building maintenance 20,000 20,000 8,488
Legal notices 1,000 1,000 -
Total administration 480,100 480,100 466,795
Street maintenance
Salaries - full-time 810,000 810,000 792,901
Salaries - part-time 75,000 75,000 77,421
Salaries - overtime 85,000 85,000 127,378
FICA 59,000 59,000 58,850
Medicare 14,000 14,000 13,763
IMRF 94,000 94,000 100,729
Employee insurance 193,000 193,000 187,138
Deferred compensation contribution 20,000 20,000 21,893
Electricity/gas 290,000 290,000 254,360
Gas, oil, wash, and mileage 70,000 70,000 62,695
Supplies/hardware 15,000 15,000 17,984
Street signs maintenance 25,000 25,000 41,345
Aggregate materials 4,000 4,000 4,480
Uniforms/clothing 10,000 10,000 8,347
Radio maintenance 5,000 5,000 2,383
Vehicle maintenance 35,000 35,000 20,497
Street light maintenance 95,000 95,000 116,194
Street maintenance 130,000 130,000 80,740
Storm sewer improvements 10,000 10,000 11,446
Contractual services 90,000 90,000 72,004
Sidewalk maintenance 5,000 5,000 -
Equipment maintenance 95,000 95,000 83,503
Supplies/hardware - salt purchase 280,000 280,000 274,578
Snow removal 280,000 280,000 539,611
Total street maintenance 2,789,000 2,789,000 2,970,240
Vehicle maintenance
Salaries - full-time 193,000 193,000 194,308
Salaries - overtime 8,000 8,000 7,312
FICA 12,500 12,500 12,136
Medicare 3,000 3,000 2,838
IMRF 22,000 22,000 22,779
Employee insurance 40,500 40,500 37,343
Deferred compensation contribution 7,500 7,500 6,255
Total vehicle maintenance 286,500 286,500 282,971
(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, 2018
Original Final
Budget Budget Actual
HIGHWAYS AND STREETS (Continued)
Forestry
Salaries - full-time 78,000$ 78,000$ 73,478$
Salaries - overtime 6,000 6,000 7,249
FICA 5,500 5,500 5,239
Medicare 1,300 1,300 1,225
IMRF 9,000 9,000 9,671
Employee insurance 17,000 17,000 13,100
Deferred compensation contribution 3,000 3,000 2,889
Supplies/hardware 8,000 8,000 9,374
Contractual services 5,000 5,000 10,949
Tree removal 45,000 45,000 11,009
Uniforms/clothing 500 500 -
Total forestry 178,300 178,300 144,183
Subtotal 7,542,225 7,542,225 7,685,356
Insurance allocation - - 9,762
Total highways and streets 7,542,225 7,542,225 7,695,118
TOTAL EXPENDITURES 24,534,315$ 24,534,315$ 23,916,577$
(See independent auditor's report.)
- 81 -
CAPITAL PROJECTS FUND
Original Final
Budget Budget Actual
REVENUES
Home rule sales tax 2,900,000$ 2,900,000$ 3,618,502$
Intergovernmental 4,533,739 4,533,739 3,067,663
Charges for services
Impact fee 5,500 5,500 6,682
Fines and forfeits 290,000 290,000 406,510
Investment income 31,886 31,886 139,004
Miscellaneous 5,805,000 5,805,000 1,477,071
Total revenues 13,566,125 13,566,125 8,715,432
EXPENDITURES
Capital outlay
Contractual services 110,000 110,000 110,790
Engineering 100,000 100,000 48,428
Building improvements 200,000 200,000 68,701
Sidewalk and curb replacement 500,000 500,000 336,350
Machinery and equipment - police 225,000 225,000 237,437
Machinery and equipment - public works 325,000 325,000 286,145
School beacon upgrades 5,000 5,000 3,467
Bridge repairs and reconstructions 425,000 425,000 51,645
Roadway improvements 3,540,000 3,540,000 2,730,857
Storm and drainage improvements 45,000 45,000 24,459
I-55 interchange design 320,000 320,000 306,734
PACE Park-n-Ride 5,800,000 5,800,000 1,418,694
Gateway signage 50,000 50,000 -
Emerald ash borer 200,000 200,000 247,808
127th Street-Plainfield/Naperville Rd.100,000 100,000 384
Settler's park campus refresh 90,000 90,000 37,555
Total expenditures 12,035,000 12,035,000 5,909,454
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 1,531,125 1,531,125 2,805,978
OTHER FINANCING SOURCES (USES)
Transfers in 500,000 500,000 532,831
Transfers (out)(2,036,125) (2,036,125) (2,023,992)
Sale of capital assets 5,000 5,000 -
Total other financing sources (uses)(1,531,125) (1,531,125) (1,491,161)
NET CHANGE IN FUND BALANCE -$ -$ 1,314,817
FUND BALANCE, MAY 1 13,490,725
FUND BALANCE, APRIL 30 14,805,542$
For the Year Ended April 30, 2018
VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
(See independent auditor's report.)
- 82 -
Original Final
Budget Budget Actual
REVENUES
Taxes
Property tax 112,600$ 112,600$ 118,519$
Investment income 500 500 6,288
Total revenues 113,100 113,100 124,807
EXPENDITURES
Debt service
Principal 2,395,000 2,395,000 2,395,000
Interest and fiscal charges 733,025 733,025 733,025
Total expenditures 3,128,025 3,128,025 3,128,025
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES (3,014,925) (3,014,925) (3,003,218)
OTHER FINANCING SOURCES (USES)
Transfers in 3,015,425 3,015,425 3,003,292
Total other financing sources (uses)3,015,425 3,015,425 3,003,292
NET CHANGE IN FUND BALANCE 500$ 500$ 74
FUND BALANCE, MAY 1 2,159
FUND BALANCE, APRIL 30 2,233$
For the Year Ended April 30, 2018
VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
DEBT SERVICE FUND
(See independent auditor's report.)
- 83 -
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, 2018
Liability Alcohol
Insurance Audit Enforcement
ASSETS AND DEFERRED
OUTFLOWS OF RESOURCES
ASSETS
Cash and investments 294,666$ 15,977$ 40,053$
Receivables
Property tax 481,631 42,938 -
Allotments - - -
Other - - 2,150
Total assets 776,297 58,915 42,203
DEFERRED OUTFLOWS OF RESOURCES
None - - -
TOTAL ASSETS AND DEFERRED
OUTFLOWS OF RESOURCES 776,297$ 58,915$ 42,203$
LIABILITIES
Accounts payable 580$ -$ -$
DEFERRED INFLOWS OF RESOURCES
Unavailable property tax revenue 481,631 42,938 -
Total liabilities and deferred inflows of resources 482,211 42,938 -
FUND BALANCES
Restricted
Street maintenance - - -
Public safety - - 42,203
Audit - 15,977 -
Liability insurance 294,086 - -
Economic development - - -
Total fund balances 294,086 15,977 42,203
TOTAL LIABILITIES, DEFERRED INFLOWS
OF RESOURCES, AND FUND BALANCES 776,297$ 58,915$ 42,203$
Special Revenue
OF RESOURCES, AND FUND BALANCES
LIABILITIES, DEFERRED INFLOWS
- 84 -
Tax
Motor Increment
Fuel Tax D.A.R.E.Financing Total
3,170,211$ 15,174$ 599,270$ 4,135,351$
- - 727,457 1,252,026
90,611 - - 90,611
- - - 2,150
3,260,822 15,174 1,326,727 5,480,138
- - - -
3,260,822$ 15,174$ 1,326,727$ 5,480,138$
86,904$ 9,120$ 404,234$ 500,838$
- - 727,457 1,252,026
86,904 9,120 1,131,691 1,752,864
3,173,918 - - 3,173,918
- 6,054 - 48,257
- - - 15,977
- - - 294,086
- - 195,036 195,036
3,173,918 6,054 195,036 3,727,274
3,260,822$ 15,174$ 1,326,727$ 5,480,138$
Special Revenue
(See independent auditor's report.)
- 85 -
VILLAGE OF PLAINFIELD, ILLINOIS
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
For the Year Ended April 30, 2018
Liability Alcohol
Insurance Audit Enforcement
REVENUES
Taxes 623,114$ 42,274$ -$
Intergovernmental - - -
Fines and forfeits - - 16,892
Investment income 2,447 236 562
Miscellaneous - - -
Total revenues 625,561 42,510 17,454
EXPENDITURES
Current
General government 80,133 35,875 -
Public safety 245,146 - -
Highways and streets 54,255 - -
Total expenditures 379,534 35,875 -
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 246,027 6,635 17,454
OTHER FINANCING SOURCES (USES)
Transfers (out)- - (18,000)
Total other financing sources (uses)- - (18,000)
NET CHANGE IN FUND BALANCES 246,027 6,635 (546)
FUND BALANCES (DEFICIT), MAY 1 48,059 9,342 42,749
FUND BALANCES, APRIL 30 294,086$ 15,977$ 42,203$
Special Revenue
- 86 -
Tax
Motor Increment
Fuel Tax D.A.R.E.Financing Total
-$ -$ 718,508$ 1,383,896$
1,110,842 - - 1,110,842
- - - 16,892
38,101 118 7,686 49,150
- 22,321 - 22,321
1,148,943 22,439 726,194 2,583,101
- - 1,071,698 1,187,706
- 15,950 - 261,096
1,052,089 - - 1,106,344
1,052,089 15,950 1,071,698 2,555,146
96,854 6,489 (345,504) 27,955
- - - (18,000)
- - - (18,000)
96,854 6,489 (345,504) 9,955
3,077,064 (435) 540,540 3,717,319
3,173,918$ 6,054$ 195,036$ 3,727,274$
Special Revenue
(See independent auditor's report.)
- 87 -
Original Final
Budget Budget Actual
REVENUES
Taxes
Property tax 625,000$ 625,000$ 623,114$
Investment income 100 100 2,447
Total revenues 625,100 625,100 625,561
EXPENDITURES
General government
Treasurer bond 500 500 336
Commercial umbrella liability insurance 58,922 58,922 33,219
Workman's compensation insurance 72,516 72,516 46,578
Public safety
Commercial umbrella liability insurance 181,016 181,016 102,053
Workman's compensation insurance 222,779 222,779 143,093
Highways and streets
Commercial umbrella liability insurance 40,062 40,062 22,586
Workman's compensation insurance 49,305 49,305 31,669
Total expenditures 625,100 625,100 379,534
NET CHANGE IN FUND BALANCE -$ -$ 246,027
FUND BALANCE, MAY 1 48,059
FUND BALANCE, APRIL 30 294,086$
For the Year Ended April 30, 2018
VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
LIABILITY INSURANCE FUND
(See independent auditor's report.)
- 88 -
Original Final
Budget Budget Actual
REVENUES
Taxes
Property tax 42,000$ 42,000$ 42,274$
Investment income 50 50 236
Total revenues 42,050 42,050 42,510
EXPENDITURES
General government
Audit 42,000 42,000 35,875
Total expenditures 42,000 42,000 35,875
NET CHANGE IN FUND BALANCE 50$ 50$ 6,635
FUND BALANCE, MAY 1 9,342
FUND BALANCE, APRIL 30 15,977$
For the Year Ended April 30, 2018
VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
AUDIT FUND
(See independent auditor's report.)
- 89 -
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, 2018
Final Original
Budget Budget Actual
REVENUES
Fines and forfeits
DUI proceeds 15,000$ 15,000$ 16,892$
Investment income 100 100 562
Total revenues 15,100 15,100 17,454
EXPENDITURES
None - - -
Total expenditures - - -
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 15,100 15,100 17,454
OTHER FINANCING SOURCES (USES)
Transfers (out)(20,000) (20,000) (18,000)
NET CHANGE IN FUND BALANCE (4,900)$ (4,900)$ (546)
FUND BALANCE, MAY 1 42,749
FUND BALANCE, APRIL 30 42,203$
(See independent auditor's report.)
- 90 -
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, 2018
Original Final
Budget Budget Actual
REVENUES
Intergovernmental
State allotments 1,150,000$ 1,150,000$ 1,110,842$
Investment income 5,000 5,000 38,101
Total revenues 1,155,000 1,155,000 1,148,943
EXPENDITURES
Highways and streets
Street maintenance 1,005,000 1,005,000 1,052,089
Total expenditures 1,005,000 1,005,000 1,052,089
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 150,000 150,000 96,854
OTHER FINANCING SOURCES (USES)
Transfers (out)(150,000) (150,000) -
Total other financing sources (uses)(150,000) (150,000) -
NET CHANGE IN FUND BALANCE -$ -$ 96,854
FUND BALANCE, MAY 1 3,077,064
FUND BALANCE, APRIL 30 3,173,918$
(See independent auditor's report.)
- 91 -
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, 2018
Original Final
Budget Budget Actual
REVENUES
Investment income 20$ 20$ 118$
Miscellaneous 20,000 20,000 22,321
Total revenues 20,020 20,020 22,439
EXPENDITURES
Public safety
Program expenditures 20,000 20,000 15,950
Total expenditures 20,000 20,000 15,950
NET CHANGE IN FUND BALANCE 20$ 20$ 6,489
FUND BALANCE (DEFICIT), MAY 1 (435)
FUND BALANCE, APRIL 30 6,054$
(See independent auditor's report.)
- 92 -
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, 2018
Original Final
Budget Budget Actual
REVENUES
Taxes
Property taxes 745,000$ 745,000$ 718,508$
Investment income 2,000 2,000 7,686
Total revenues 747,000 747,000 726,194
EXPENDITURES
General government
Contractual services 450,000 450,000 944,580
Facade improvements 125,000 125,000 127,118
Total expenditures 575,000 575,000 1,071,698
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 172,000 172,000 (345,504)
OTHER FINANCING SOURCES (USES)
Transfers (out)(550,000) (550,000) -
Total other financing sources (uses)(550,000) (550,000) -
NET CHANGE IN FUND BALANCE (378,000)$ (378,000)$ (345,504)
FUND BALANCE, MAY 1 540,540
FUND BALANCE, APRIL 30 195,036$
(See independent auditor's report.)
- 93 -
MAJOR ENTERPRISE FUND
VILLAGE OF PLAINFIELD, ILLINOIS
COMBINING SCHEDULE OF NET POSITION
WATER AND SEWER DEPARTMENT ACCOUNTS
April 30, 2018
Water and
Sewer Capital
Operations Projects Total
CURRENT ASSETS
Cash and investments 12,865,538$ 3,276,507$ 16,142,045$
Receivables
Accounts 2,066,148 - 2,066,148
Sales tax 430,984 - 430,984
Other 4,872 - 4,872
Interest 12,626 15,800 28,426
Prepaid expenses 15,318 - 15,318
Total current assets 15,395,486 3,292,307 18,687,793
CAPITAL ASSETS
Nondepreciable 3,398,952 - 3,398,952
Depreciable, net of accumulated
depreciation 99,811,005 - 99,811,005
Net capital assets 103,209,957 - 103,209,957
OTHER ASSETS
Deposits 222,863 - 222,863
Total other assets 222,863 - 222,863
Total assets 118,828,306 3,292,307 122,120,613
DEFERRED OUTFLOWS OF RESOURCES
Deferred outflows of resources - IMRF 58,756 - 58,756
Deferred outflows of resources - OPEB 15,887 - 15,887
Unamortized loss on refundings 2,238,434 - 2,238,434
Total deferred outflows of resources 2,313,077 - 2,313,077
Total assets and deferred
outflows of resources 121,141,383 3,292,307 124,433,690
(This schedule is continued on the following page.)
- 94 -
VILLAGE OF PLAINFIELD, ILLINOIS
COMBINING SCHEDULE OF NET POSITION (Continued)
WATER AND SEWER DEPARTMENT ACCOUNTS
April 30, 2018
Water and
Sewer Capital
Operations Projects Total
CURRENT LIABILITIES
Accounts payable 1,954,552$ -$ 1,954,552$
Accrued payroll 48,356 - 48,356
Accrued interest 333,966 - 333,966
Compensated absences payable - current 73,238 - 73,238
Illinois EPA loan payable - current 159,393 - 159,393
Bonds payable - current 2,300,000 - 2,300,000
Developer deposit 21,862 - 21,862
Total current liabilities 4,891,367 - 4,891,367
LONG-TERM LIABILITIES
Compensated absences payable - long-term 8,041 - 8,041
Net pension liability - IMRF 273,714 - 273,714
Total OPEB liability 53,450 - 53,450
Illinois EPA loan payable - long-term 2,169,432 - 2,169,432
Bonds payable - long-term 16,330,496 - 16,330,496
Total long-term liabilities 18,835,133 - 18,835,133
DEFERRED INFLOWS OF RESOURCES
Deferred inflows of resources - IMRF 248,717 - 248,717
Deferred inflows of resources - OPEB 15,589 - 15,589
Total deferred outflows of resources 264,306 - 264,306
Total liabilities and deferred
inflows of resources 23,990,806 - 23,990,806
NET POSITION
Net investment in capital assets 84,489,070 - 84,489,070
Restricted for debt service 2,248,925 - 2,248,925
Unrestricted 10,412,582 3,292,307 13,704,889
TOTAL NET POSITION 97,150,577$ 3,292,307$ 100,442,884$
(See independent auditor's report.)
- 95 -
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, 2018
Water and
Sewer Capital
Operations Projects Eliminations Total
OPERATING REVENUES
Charges for services
Customer sales 15,986,667$ -$ -$ 15,986,667$
Meter sales 17,750 - - 17,750
Total operating revenues 16,004,417 - - 16,004,417
OPERATING EXPENSES
Water operations 10,572,926 - - 10,572,926
Sewer operations 2,044,823 - - 2,044,823
Depreciation 3,161,418 - - 3,161,418
Total operating expenses 15,779,167 - - 15,779,167
OPERATING INCOME 225,250 - - 225,250
NON-OPERATING REVENUES (EXPENSES)
Home rule sales tax 1,808,980 - - 1,808,980
Miscellaneous income 806,446 - - 806,446
Investment income 73,155 34,919 - 108,074
Interest expense (775,750) - - (775,750)
Total non-operating revenues (expenses)1,912,831 34,919 - 1,947,750
INCOME BEFORE TRANSFERS
AND CAPITAL CONTRIBUTIONS 2,138,081 34,919 - 2,173,000
TRANSFERS (OUT)(979,300) - - (979,300)
CAPITAL CONTRIBUTIONS 270,424 - - 270,424
CHANGE IN NET POSITION 1,429,205 34,919 - 1,464,124
NET POSITION, MAY 1 95,773,090 3,257,388 - 99,030,478
Change in accounting principle (51,718) - - (51,718)
NET POSITION, MAY 1, RESTATED 95,721,372 3,257,388 98,978,760
NET POSITION, APRIL 30 97,150,577$ 3,292,307$ -$ 100,442,884$
(See independent auditor's report.)
- 96 -
VILLAGE OF PLAINFIELD, ILLINOIS
COMBINING SCHEDULE OF CASH FLOWS
WATER AND SEWER DEPARTMENT ACCOUNTS
For the Year Ended April 30, 2018
Water and
Sewer Capital
Operations Projects Eliminations Total
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customers 15,922,090$ -$ -$ 15,922,090$
Reimbursements to other funds (250,000) - - (250,000)
Payments to suppliers (9,922,680) - - (9,922,680)
Payments to employees (1,544,689) - - (1,544,689)
Net cash from operating activities 4,204,721 - - 4,204,721
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES
Transfers (out)(979,300) - - (979,300)
Non-operating revenues 2,585,587 - - 2,585,587
Net cash from noncapital financing activities 1,606,287 - - 1,606,287
CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES
Purchase of capital assets (765,099) - - (765,099)
Principal payments on long-term debt (2,377,419) - - (2,377,419)
Interest paid (769,118) - - (769,118)
Net cash from capital and related
financing activities (3,911,636) - - (3,911,636)
CASH FLOWS FROM INVESTING ACTIVITIES
Sale (purchase) of investments - 4,278 - 4,278
Interest received 71,569 27,346 - 98,915
Net cash from investing activities 71,569 31,624 - 103,193
NET INCREASE IN CASH AND
CASH EQUIVALENTS 1,970,941 31,624 - 2,002,565
CASH AND CASH EQUIVALENTS, MAY 1 10,894,597 1,952,276 - 12,846,873
CASH AND CASH EQUIVALENTS, APRIL 30 12,865,538$ 1,983,900$ -$ 14,849,438$
(This schedule is continued on the following page.)
- 97 -
VILLAGE OF PLAINFIELD, ILLINOIS
COMBINING SCHEDULE OF CASH FLOWS (Continued)
WATER AND SEWER DEPARTMENT ACCOUNTS
For the Year Ended April 30, 2018
Water and
Sewer Capital
Operations Projects Eliminations Total
RECONCILIATION OF OPERATING INCOME
TO NET CASH FLOWS FROM
OPERATING ACTIVITIES
Operating income 225,250$ -$ -$ 225,250$
Adjustments to reconcile operating income
to net cash from operating activities
Depreciation 3,161,418 - - 3,161,418
(Increase) decrease in
Accounts receivable (82,327) - - (82,327)
Prepaid items 280 - - 280
Deposits 10,173 - - 10,173
Increase (decrease) in
Pension items - IMRF (6,385) - - (6,385)
Pension items - OPEB 1,434 - 1,434
Accounts payable 909,926 - - 909,926
Accrued expenses (15,048) - - (15,048)
Total adjustments 3,979,471 - - 3,979,471
NET CASH FROM OPERATING ACTIVITIES 4,204,721$ -$ -$ 4,204,721$
CASH AND INVESTMENTS
Cash and cash equivalents 12,865,538$ 1,983,900$ -$ 14,849,438$
Investments - 1,292,607 - 1,292,607
TOTAL CASH AND INVESTMENTS 12,865,538$ 3,276,507$ -$ 16,142,045$
NONCASH TRANSACTIONS
Capital contributions 270,424$ -$ -$ 270,424$
(See independent auditor's report.)
- 98 -
VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL
WATER AND SEWER OPERATIONS ACCOUNTS
For the Year Ended April 30, 2018
Original Final
Budget Budget Actual
WATER OPERATIONS
Administration
Salaries - full-time 245,000$ 245,000$ 237,531$
FICA 15,200 15,200 17,176
Medicare 3,600 3,600 4,098
IMRF 28,000 28,000 32,097
Employee insurance 46,000 46,000 44,329
Deferred compensation contribution 10,000 10,000 7,259
Travel/training 7,000 7,000 4,002
Unemployment insurance 2,500 2,500 1,653
Telephone/internet 5,600 5,600 6,211
Cellular phones/pagers 3,000 3,000 4,159
Office supplies/postage 26,000 26,000 28,504
Replacement supplies - - 47
Dues and subscriptions 1,400 1,400 1,642
Gas, oil, wash, and mileage 500 500 396
Software 2,000 2,000 -
Sand and gravel 800 800 2,272
Supplies/hardware 500 500 1,485
Water meters 150,000 150,000 124,429
Uniforms/clothing - - 52
Building maintenance 8,000 8,000 11,572
Legal notices 500 500 -
Attorney legal fees 1,000 1,000 876
Contractual services 27,000 27,000 27,792
Equipment maintenance 500 500 363
Engineer fees 4,000 4,000 17,911
Insurance surplus allocation - - 10,173
Settlement charges - - 334
Administrative service charge 125,000 125,000 125,000
Total administration 713,100 713,100 711,363
Water provision
Salaries - full-time 410,000 410,000 349,359
Salaries - part-time 14,000 14,000 8,760
Salaries - overtime 35,000 35,000 42,045
FICA 29,000 29,000 22,222
Medicare 6,800 6,800 5,231
IMRF 53,000 53,000 39,919
Employee insurance 70,975 70,975 55,677
Deferred compensation contribution 15,000 15,000 11,279
Telephone/internet 9,000 9,000 9,905
Cellular phones/pagers 500 500 -
Electricity/gas 140,000 140,000 84,085
Office supplies/postage 2,000 2,000 2,526
Replacement supplies 5,000 5,000 8,021
Gas, oil, wash, and mileage 15,000 15,000 10,304
(This schedule is continued on the following pages.)
- 99 -
VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL (Continued)
WATER AND SEWER OPERATIONS ACCOUNTS
For the Year Ended April 30, 2018
Original Final
Budget Budget Actual
WATER OPERATIONS (Continued)
Water provision (Continued)
Chemicals 5,500$ 5,500$ 5,961$
Supplies/hardware 4,000 4,000 10,728
Uniforms/clothing 2,000 2,000 1,827
Building maintenance 4,000 4,000 1,169
Vehicle maintenance 6,500 6,500 7,548
Contractual services 40,000 40,000 38,175
Water purchase 8,403,000 8,403,000 9,095,105
Equipment maintenance 9,000 9,000 12,261
System maintenance 44,000 44,000 12,827
Water/fire hydrant 20,000 20,000 18,977
EPA analytical 16,000 16,000 10,128
Total water provision 9,359,275 9,359,275 9,864,039
Total water operations 10,072,375 10,072,375 10,575,402
SEWER OPERATIONS
Administration
Salaries - full-time 245,000 245,000 239,809
FICA 15,200 15,200 14,816
Medicare 3,600 3,600 3,546
IMRF 28,000 28,000 27,776
Employee insurance 46,000 46,000 35,500
Deferred compensation contribution 10,000 10,000 7,658
Travel/training 12,000 12,000 8,208
Unemployment insurance 2,500 2,500 1,080
Telephone/internet 9,000 9,000 11,243
Cellular phones/pagers 3,500 3,500 2,703
Office supplies/postage 25,000 25,000 27,679
Dues and subscriptions 68,200 68,200 65,522
Gas, oil, wash, and mileage 1,000 1,000 30
Supplies/hardware 2,500 2,500 1,608
Uniforms/clothing - - 546
Building maintenance 15,000 15,000 13,396
Attorney legal fees 1,500 1,500 284
Contractual services 30,000 30,000 22,559
Equipment maintenance 2,000 2,000 1,166
Engineer fees 10,000 10,000 7,509
Settlement charges - - 334
Administrative service charge 125,000 125,000 125,000
Total administration 655,000 655,000 617,972
(This schedule is continued on the following page.)
- 100 -
VILLAGE OF PLAINFIELD, ILLINOIS
SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL (Continued)
WATER AND SEWER OPERATIONS ACCOUNTS
For the Year Ended April 30, 2018
Original Final
Budget Budget Actual
SEWER OPERATIONS (Continued)
Sewer treatment
Salaries - full-time 385,000$ 385,000$ 370,002$
Salaries - part-time 10,000 10,000 8,760
Salaries - overtime 30,000 30,000 30,913
FICA 26,500 26,500 24,741
Medicare 6,500 6,500 5,817
IMRF 46,000 46,000 44,572
Employee insurance 56,000 56,000 50,821
Deferred compensation contribution 13,500 13,500 15,144
Telephone/internet 22,000 22,000 24,398
Electricity/gas 525,000 525,000 472,448
Replacement supplies 6,000 6,000 4,870
Gas, oil, wash, and mileage 13,000 13,000 11,407
Supplies/hardware 10,000 10,000 15,190
Chemicals/supplies 115,000 115,000 100,602
Sand and gravel 500 500 -
Industrial flow monitor 18,000 18,000 2,462
Uniforms/clothing 5,000 5,000 5,699
Vehicle maintenance 8,000 8,000 10,343
Contractual services 160,000 160,000 136,856
Equipment maintenance 20,000 20,000 18,764
System maintenance 125,000 125,000 41,622
Maintenance - James Street 5,000 5,000 -
Total sewer treatment 1,606,000 1,606,000 1,395,431
Other
Capital repair and replacement - sewer 830,000 830,000 798,994
Total other 830,000 830,000 798,994
Total sewer operations 3,091,000 3,091,000 2,812,397
Total water and sewer operating expenses 13,163,375$ 13,163,375$ 13,387,799
ADJUSTMENTS TO GAAP BASIS
Pension expense - IMRF - water division (3,193)
Pension expense - IMRF - sewer division (3,192)
Change in OPEB - water division 717
Change in OPEB - sewer division 717
Capital assets capitalized (765,099)
Depreciation 3,161,418
Total adjustments to GAAP basis 2,391,368
TOTAL WATER AND SEWER OPERATING EXPENSES
GAAP BASIS 15,779,167$
(See independent auditor's report.)
- 101 -
FIDUCIARY FUNDS
SCHEDULE OF CHANGES IN FIDUCIARY NET POSITION -
BUDGET AND ACTUAL
POLICE PENSION FUND
For the Year Ended April 30, 2018
Original Final
Budget Budget Actual
ADDITIONS
Contributions
Employer 1,370,000$ 1,370,000$ 1,364,479$
Employee 575,000 575,000 524,835
Total contributions 1,945,000 1,945,000 1,889,314
Investment income
Net appreciation in
fair value of investments 475,000 475,000 997,343
Interest and dividends 500,000 500,000 1,200,928
Total investment income 975,000 975,000 2,198,271
Less investment expense (85,000) (85,000) (99,577)
Net investment income 890,000 890,000 2,098,694
Total additions 2,835,000 2,835,000 3,988,008
DEDUCTIONS
Pension benefits 485,000 485,000 494,765
Administrative expenses 41,000 41,000 42,745
Total deductions 526,000 526,000 537,510
NET INCREASE 2,309,000$ 2,309,000$ 3,450,498
NET POSITION RESTRICTED
FOR PENSIONS
May 1 28,127,856
April 30 31,578,354$
VILLAGE OF PLAINFIELD, ILLINOIS
(See independent auditor's report.)
- 102 -
1415 West Diehl Road, Suite 400
Naperville, IL 60563
630.566.8400
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 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, 2018.
Management is responsible for the Village’s assertion. Our responsibility is to express an opinion
on management’s assertion about the Village’s compliance with the specific requirements based
on our examination.
Our examination was made in accordance with the standards established by the American Institute
of Public Accountants. Those standards require that we plan and perform the examination to obtain
reasonable assurance about whether management’s assertion about compliance with the specified
requirements is fairly stated, in all material respects. An examination involves performing
procedures to obtain evidence about whether management’s assertion is fairly stated, in all material
respects. The nature, timing, and extent of the procedures selected depend on our judgment,
including an assessment of the risks of material misstatement of management’s assertion, whether
due to fraud or error. We believe that the evidence we obtained is sufficient and appropriate to
provide a reasonable basis for our opinion.
Our examination does not provide a legal determination on the Village’s compliance with the
specified requirements.
In our opinion, management’s assertion that the Village of Plainfield, Illinois, complied with the
aforementioned requirements for the year ended April 30, 2018, is fairly stated in all material
respects.
This report is intended solely for the information and use of the Board of Trustees, management
and the Illinois Department of Revenue, Illinois State Comptrollers Office, and the Joint Review
Board and should not be used by anyone other than these specified parties.
Naperville, Illinois
August 31, 2018
- 103 -
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 says 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.
104-113
Revenue Capacity
These schedules contain information to help the reader assess the
Village’s most significant local revenue source, the property tax.
114-121
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.
122-125
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.
126-127
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.
128-131
Sources: Unless otherwise noted, the information in these schedules is derived from the
comprehensive annual financial reports for the relevant year.
Fiscal Year 2009 2010 2011 2012
GOVERNMENTAL ACTIVITIES
Net investment in capital assets 311,018,741$ 298,048,879$ 287,247,440$ 273,588,903$
Restricted 663,770 646,481 679,852 2,258,412
Unrestricted (7,355,406) (6,273,817) (999,983) 3,010,321
TOTAL GOVERNMENTAL ACTIVITIES 304,327,105$ 292,421,543$ 286,927,309$ 278,857,636$
BUSINESS-TYPE ACTIVITIES
Net investment in capital assets 81,625,000$ 85,624,259$ 86,260,116$ 84,915,466$
Restricted 857,545 603,727 601,299 601,161
Unrestricted 19,554,725 14,338,009 10,526,199 10,420,908
TOTAL BUSINESS-TYPE ACTIVITIES 102,037,270$ 100,565,995$ 97,387,614$ 95,937,535$
PRIMARY GOVERNMENT
Net investment in capital assets 392,643,741$ 383,673,138$ 373,507,556$ 358,504,369$
Restricted 1,521,315 1,250,208 1,281,151 2,859,573
Unrestricted 12,199,319 8,064,192 9,526,216 13,431,229
TOTAL PRIMARY GOVERNMENT 406,364,375$ 392,987,538$ 384,314,923$ 374,795,171$
*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
- 104 -
2013 2014 2015 2016*2017 2018
261,247,144$ 248,456,183$ 236,161,456$ 224,437,029$ 214,068,963$ 206,531,017$
2,874,252 3,006,647 3,783,480 4,260,303 4,203,118 4,361,935
8,503,651 12,390,475 16,035,847 6,885,635 9,857,838 10,184,052
272,625,047$ 263,853,305$ 255,980,783$ 235,582,967$ 228,129,919$ 221,077,004$
85,745,939$ 85,192,902$ 83,998,867$ 83,393,179$ 84,275,866$ 84,489,070$
603,205 602,080 2,106,291 2,247,562 2,248,756 2,248,925
12,265,523 12,652,914 12,027,445 12,492,289 12,505,856 13,704,889
98,614,667$ 98,447,896$ 98,132,603$ 98,133,030$ 99,030,478$ 100,442,884$
346,993,083$ 333,649,085$ 320,160,323$ 307,830,208$ 298,344,829$ 291,020,087$
3,477,457 3,608,727 5,889,771 6,507,865 6,451,874 6,610,860
20,769,174 25,043,389 28,063,292 19,377,924 22,363,694 23,888,941
371,239,714$ 362,301,201$ 354,113,386$ 333,715,997$ 327,160,397$ 321,519,888$
- 105 -
Fiscal Year 2009 2010 2011 2012
EXPENSES
Governmental activities
General government 5,373,883$ 3,634,146$ 2,754,319$ 3,808,990$
Public safety 11,030,984 10,192,710 10,703,278 11,247,015
Highways and streets 21,634,555 21,864,844 21,833,556 22,554,164
Interest 1,649,805 1,567,529 1,333,022 1,347,798
Total governmental activities expenses 39,689,227 37,259,229 36,624,175 38,957,967
BUSINESS-TYPE ACTIVITIES
Water and sewer 12,553,148 13,020,412 13,563,407 13,215,950
Total business-type activities expenses 12,553,148 13,020,412 13,563,407 13,215,950
TOTAL PRIMARY GOVERNMENT
EXPENSES 52,242,375$ 50,279,641$ 50,187,582$ 52,173,917$
PROGRAM REVENUES
Governmental activities
Charges for services
General government 4,179,546$ 3,914,078$ 4,257,608$ 4,595,180$
Public safety 1,473,661 1,702,528 1,913,421 1,937,666
Highways and streets 360,625 34,238 3,783 13,909
Operating grants and contributions 1,265,919 1,155,527 1,508,358 2,239,921
Capital grants and contributions 14,123,044 7,426,001 2,328,859 257,817
Total governmental activities
program revenues 21,402,795 14,232,372 10,012,029 9,044,493
Business-type activities
Charges for services
Water/sewer 9,317,371 9,510,526 10,135,734 11,482,986
Operating grants and contributions 573,211 495,793 - -
Capital grants and contributions 3,631,340 1,943,525 372,147 90,791
Total business-type activities
program revenues 13,521,922 11,949,844 10,507,881 11,573,777
TOTAL PRIMARY GOVERNMENT
PROGRAM REVENUES 34,924,717$ 26,182,216$ 20,519,910$ 20,618,270$
NET (EXPENSE) REVENUE
Governmental activities (18,286,432)$ (23,026,857)$ (26,612,146)$ (29,913,474)$
Business-type activities 968,774 (1,070,568) (3,055,526) (1,642,173)
TOTAL PRIMARY GOVERNMENT
NET (EXPENSE) REVENUE (17,317,658)$ (24,097,425)$ (29,667,672)$ (31,555,647)$
VILLAGE OF PLAINFIELD, ILLINOIS
CHANGE IN NET POSITION
Last Ten Fiscal Years
- 106 -
2013 2014 2015*2016 2017 2018
3,442,249$ 4,437,507$ 3,974,582$ 4,461,409$ 4,547,120$ 5,661,695$
11,273,628 11,321,562 11,778,078 12,608,966 14,062,875 13,601,471
21,995,249 23,977,254 23,731,474 24,868,163 23,787,789 25,231,666
1,213,432 1,154,112 1,059,100 870,373 800,364 724,260
37,924,558 40,890,435 40,543,234 42,808,911 43,198,148 45,219,092
14,648,769 15,233,480 15,513,750 15,976,198 16,324,022 16,554,917
14,648,769 15,233,480 15,513,750 15,976,198 16,324,022 16,554,917
52,573,327$ 56,123,915$ 56,056,984$ 58,785,109$ 59,522,170$ 61,774,009$
4,989,871$ 5,178,547$ 5,472,089$ 5,814,964$ 6,151,486$ 6,324,056$
1,756,994 1,658,959 1,611,233 1,418,860 1,593,981 1,701,686
178,221 141,846 9,193 37,417 43,621 20,057
1,372,279 1,386,766 1,492,593 1,203,530 1,184,693 1,213,779
1,009,182 118,359 44,267 360,507 1,207,122 3,173,077
9,306,547 8,484,477 8,629,375 8,835,278 10,180,903 12,432,655
14,066,990 13,361,542 13,407,793 14,224,684 15,071,122 16,004,417
- - - - - -
2,145,000 - - - 389,353 270,424
16,211,990 13,361,542 13,407,793 14,224,684 15,460,475 16,274,841
25,518,537$ 21,846,019$ 22,037,168$ 23,059,962$ 25,641,378$ 28,707,496$
(28,618,011)$ (32,405,958)$ (31,913,859)$ (33,973,633)$ (33,017,245)$ (32,786,437)$
1,563,221 (1,871,938) (2,105,957) (1,751,514) (863,547) (280,076)
(27,054,790)$ (34,277,896)$ (34,019,816)$ (35,725,147)$ (33,880,792)$ (33,066,513)$
- 107 -
Fiscal Year 2009 2010 2011 2012
GENERAL REVENUES AND OTHER
CHANGES IN NET POSITION
Governmental activities
Taxes
Property and replacement 6,038,464$ 6,428,427$ 6,651,509$ 6,306,567$
Home rule sales tax - - - -
Utility/telecommunications 2,526,924 2,271,926 2,980,148 3,066,185
Local motor fuel - - 296,235 489,711
Other 5,471 4,860 4,447 7,069
Sales and use tax 7,478,502 7,377,482 7,670,219 8,143,910
Income tax 3,401,680 2,965,208 2,910,807 3,203,518
Investment income 138,961 15,166 8,190 6,770
Miscellaneous 115,945 87,030 68,237 103,695
Transfers 526,245 524,770 528,120 516,376
Total governmental activities 20,232,192 19,674,869 21,117,912 21,843,801
Business-type activities
Home rule sales tax - - - -
Investment income 330,567 93,583 26,906 8,480
Miscellaneous 2,777 30,480 378,359 699,990
Transfers (526,245) (524,770) (528,120) (516,376)
Total business-type activities (192,901) (400,707) (122,855) 192,094
TOTAL PRIMARY GOVERNMENT 20,039,291$ 19,274,162$ 20,995,057$ 22,035,895$
CHANGE IN NET POSITION
Governmental activities 1,945,760$ (3,351,988)$ (5,494,234)$ (8,069,673)$
Business-type activities 775,873 (1,471,275) (3,178,381) (1,450,079)
TOTAL PRIMARY GOVERNMENT
CHANGE IN NET POSITION 2,721,633$ (4,823,263)$ (8,672,615)$ (9,519,752)$
*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)
- 108 -
2013 2014 2015*2016 2017 2018
6,300,458$ 6,352,505$ 6,538,805$ 6,633,529$ 6,795,465$ 7,096,972$
- - 3,286,980 3,403,167 3,492,459 3,618,502
2,981,462 3,198,840 3,107,995 2,816,908 2,915,445 2,865,380
838,419 790,158 813,718 897,404 959,052 1,097,294
5,804 4,966 8,250 7,587 10,092 9,659
8,495,268 8,848,545 5,842,343 6,199,078 6,328,246 6,689,407
3,567,060 3,857,016 3,876,349 4,218,244 3,741,387 3,589,279
20,956 27,857 (120,582) 53,007 140,553 311,646
72,956 63,581 197,627 267,223 210,598 504,990
493,650 490,748 489,852 498,100 970,900 979,300
22,776,033 23,634,216 24,041,337 24,994,247 25,564,197 26,762,429
1,415,262 1,630,710 1,643,244 1,701,328 1,745,968 1,808,980
9,010 14,986 141 61,902 62,358 108,074
1,169,633 550,219 637,131 822,046 923,569 806,446
(493,650) (490,748) (489,852) (498,100) (970,900) (979,300)
2,100,255 1,705,167 1,790,664 2,087,176 1,760,995 1,744,200
24,876,288$ 25,339,383$ 25,832,001$ 27,081,423$ 27,325,192$ 28,506,629$
(5,841,978)$ (8,771,742)$ (7,872,522)$ (8,979,386)$ (7,453,048)$ (6,024,008)$
3,663,476 (166,771) (315,293) 335,662 897,448 1,464,124
(2,178,502)$ (8,938,513)$ (8,187,815)$ (8,643,724)$ (6,555,600)$ (4,559,884)$
- 109 -
Fiscal Year 2009 2010 2011 2012
GENERAL FUND
Reserved 1,245,401$ 1,259,966$ 3,393,753$ -$
Unreserved - designated 20,000 638,341 750,040 -
Unreserved - undesignated 2,646,908 2,964,485 4,151,179 -
Nonspendable for
Advances - - - 1,193,937
Long-term receivables - - - 909,968
Prepaid items - - - 123,321
Restricted
Retirement obligations - - - -
Public safety - - - -
Unrestricted
Assigned for bridge construction - - - 20,000
Assigned for insurance - - - 845,155
Unassigned - - - 6,814,424
TOTAL GENERAL FUND 3,912,309$ 4,862,792$ 8,294,972$ 9,906,805$
ALL OTHER GOVERNMENTAL FUNDS
Reserved 663,770$ 646,481$ 679,852$ -$
Unreserved, reported in
Capital Projects Fund (11,422,543) (12,268,499) (10,889,373) -
Special Revenue Fund 375,736 713,258 1,174,378 -
Restricted for
Street maintenance - - - 1,115,600
Public safety - - - 42,389
Audit - - - 4,106
Liability insurance - - - 310,733
Economic development - - - 785,584
Unrestricted
Assigned for debt service - - - 1,347
Assigned for capital projects - - - -
Unassigned - - - (7,414,412)
TOTAL ALL OTHER
GOVERNMENTAL FUNDS (10,383,037)$ (10,908,760)$ (9,035,143)$ (5,154,653)$
TOTAL FUND BALANCES (6,470,728)$ (6,045,968)$ (740,171)$ 4,752,152$
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
- 110 -
2013 2014 2015 2016 2017 2018
-$ -$ -$ -$ -$ -$
- - - - - -
- - - - - -
1,153,506 - - - - -
705,953 687,538 669,986 363,498 221,763 -
133,497 133,536 135,867 142,187 150,893 212,479
- - - 16,709 92,012 125,878
- - - 471,209 393,352 508,783
- - - - - -
1,006,427 1,065,860 1,158,291 1,127,527 1,305,917 1,248,272
9,658,183 9,841,030 8,322,103 8,485,950 8,655,225 9,556,631
12,657,566$ 11,727,964$ 10,286,247$ 10,607,080$ 10,819,162$ 11,652,043$
-$ -$ -$ -$ -$ -$
- - - - - -
- - - - - -
1,509,744 1,915,321 2,690,722 2,819,181 3,077,064 3,173,918
40,585 42,443 32,058 40,651 42,749 48,257
5,360 3,511 3,970 6,161 9,342 15,977
219,288 86,172 70,626 21,126 48,059 294,086
1,099,275 959,200 986,104 885,266 540,540 195,036
881 918 1,700 2,133 2,159 2,233
- 405,138 5,447,573 8,837,434 13,490,725 14,805,542
(4,328,519) - - - (435) -
(1,453,386)$ 3,412,703$ 9,232,753$ 12,611,952$ 17,210,203$ 18,535,049$
11,204,180$ 15,140,667$ 19,519,000$ 23,219,032$ 28,029,365$ 30,187,092$
- 111 -
Fiscal Year 2009 2010 2011 2012
REVENUES
Taxes 16,924,117$ 16,775,978$ 17,533,217$ 18,150,775$
Licenses and permits 806,101 495,063 497,966 611,529
Intergovernmental 6,562,532 3,359,417 5,507,812 5,340,409
Charges for services 3,920,150 4,712,486 4,152,165 4,380,366
Fines and forfeits 1,031,539 1,103,323 1,329,951 1,325,854
Investment income 138,961 15,166 8,190 6,770
Miscellaneous 623,400 356,964 385,686 479,606
Total revenues 30,006,800 26,818,397 29,414,987 30,295,309
EXPENDITURES
General government 4,643,073 3,133,119 2,401,600 3,477,890
Public safety 10,725,530 10,303,037 10,100,410 10,654,797
Highways and streets 6,180,682 6,432,461 6,388,974 6,431,829
Capital outlay 15,730,443 3,947,891 2,786,336 1,950,478
Debt service
Principal 1,525,000 1,580,000 1,580,000 1,720,000
Interest and fiscal charges 1,694,045 1,655,506 1,485,744 1,581,506
Total expenditures 40,498,773 27,052,014 24,743,064 25,816,500
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES (10,491,973) (233,617) 4,671,923 4,478,809
OTHER FINANCING SOURCES (USES)
Transfers in 4,918,446 3,659,728 3,610,948 3,096,035
Transfers (out)(4,392,201) (3,134,958) (3,082,828) (2,579,659)
Refunding bonds issued - 865,000 9,280,000 6,820,000
Premium (discount) on refunding bonds - 37,806 564,424 532,928
Bonds issued - - - -
Premium (discount) on bonds issued - - - -
Payment to escrow agent - (883,953) (9,913,670) (7,251,451)
Installment notes issued 150,824 114,754 - -
Sale of capital assets - - 175,000 395,661
Total other financing sources (uses)677,069 658,377 633,874 1,013,514
NET CHANGE IN FUND BALANCES (9,814,904)$ 424,760$ 5,305,797$ 5,492,323$
DEBT SERVICE AS A PERCENTAGE
OF NONCAPITAL EXPENDITURES 13.00%14.00%13.96%13.03%
*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
- 112 -
2013 2014 2015*2016 2017 2018
19,207,009$ 19,853,191$ 10,647,752$ 10,941,684$ 11,257,069$ 11,822,426$
735,905 862,916 976,464 1,177,055 1,166,151 1,094,102
5,298,633 4,661,759 14,308,398 14,596,272 14,772,754 14,513,737
4,822,592 4,887,938 4,932,519 5,100,794 5,485,364 5,664,929
1,169,501 1,122,269 1,094,229 907,956 1,052,355 1,067,168
20,956 27,857 (120,582) 53,007 140,553 311,646
334,334 212,015 342,080 554,657 432,609 2,209,121
31,588,930 31,627,945 32,180,860 33,331,425 34,306,855 36,683,129
3,141,185 4,029,639 3,677,375 3,966,293 4,211,656 5,460,233
10,686,447 10,746,430 11,266,927 11,453,755 11,675,600 12,210,028
6,623,648 7,404,103 7,197,622 7,809,942 7,856,257 8,801,462
2,042,968 2,870,609 3,048,345 3,897,730 3,606,528 5,909,454
1,915,000 1,945,000 2,085,000 2,215,000 2,315,000 2,395,000
1,221,304 1,191,213 1,138,302 890,875 806,150 733,025
25,630,552 28,186,994 28,413,571 30,233,595 30,471,191 35,509,202
5,958,378 3,440,951 3,767,289 3,097,830 3,835,664 1,173,927
3,102,780 6,094,911 6,845,397 5,939,207 5,704,731 3,554,123
(2,609,130) (5,604,163) (6,355,545) (5,441,107) (4,733,831) (2,574,823)
- - 9,665,000 - - -
- - 331,514 - - -
- - - - - -
- - - - - -
- - (9,875,322) - - -
- - - - - -
- 4,788 - 104,102 3,769 4,500
493,650 495,536 611,044 602,202 974,669 983,800
6,452,028$ 3,936,487$ 4,378,333$ 3,700,032$ 4,810,333$ 2,157,727$
12.94%11.53%11.78%10.79%11.01%10.00%
- 113 -
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
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%
2016 1,115,247,993 144,540,932 18,305,506 3,925,296 536,960 1,282,556,687 0.4669 3,847,670,061 33.333%
2017 1,163,630,631 145,895,711 17,159,173 4,184,880 443,511 1,331,313,906 0.4669 3,993,941,718 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
- 114 -
Levy Year 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
DIRECT TAX RATES
General 0.1663 0.2053 0.2012 0.2032 0.2158 0.2210 0.2099 0.1974 0.1921 0.2002
Debt service 0.0084 0.0024 0.0086 0.0090 0.0098 0.0098 0.0098 0.0097 0.0088 0.0089
Police Pension 0.0724 0.0503 0.0682 0.0721 0.0767 0.0783 0.0811 0.0911 0.1068 0.1057
IMRF 0.0419 0.0413 0.0436 0.0461 0.0490 0.0500 0.0492 0.0476 0.0448 0.0407
Police protection 0.0449 0.0575 0.0607 0.0641 0.0682 0.0696 0.0683 0.0662 0.0624 0.0711
Audit 0.0016 0.0008 0.0029 0.0031 0.0030 0.0034 0.0033 0.0035 0.0033 0.0033
Liability insurance 0.0724 0.0503 0.0227 0.0321 0.0342 0.0348 0.0453 0.0514 0.0487 0.0370
Total direct rates 0.4079 0.4079 0.4079 0.4297 0.4567 0.4669 0.4669 0.4669 0.4669 0.4669
OVERLAPPING TAX RATES
Will County Including Forest Preserve 0.6387 0.6543 0.6841 0.7244 0.7244 0.8186 0.8410 0.8295 0.8091 0.7881
Plainfield CUSD #202 4.5270 4.5876 4.8618 5.2705 5.8323 6.2265 6.2622 6.2410 5.8941 5.7067
Joliet Jr. Community College #525 0.1896 0.2144 0.2270 0.2463 0.2768 0.2955 0.3085 0.3065 0.3099 0.2994
Plainfield Township Park District 0.1761 0.1740 0.1959 0.2126 0.2433 0.2535 0.2742 0.2692 0.2560 0.2541
Plainfield Public Library District 0.1676 0.1421 0.1573 0.1720 0.1894 0.2013 0.2057 0.2021 0.1939 0.1921
Plainfield Fire Protection District 0.8323 0.8419 0.8656 0.8872 0.9216 0.9970 1.0122 1.0036 0.9674 0.9650
Township and all other 0.1469 0.1483 0.1653 0.1804 0.1960 0.2106 0.2125 0.2091 0.1991 0.1952
Total overlapping rates 6.6782 6.7626 7.1570 7.6934 8.3838 9.0030 9.1163 9.0610 8.6295 8.4006
TOTAL TAX RATES 7.0861 7.1705 7.5649 8.1231 8.8405 9.4699 9.5832 9.5279 9.0964 8.8675
Property tax rates are per $100 of assessed valuation.
Data Source
Office of the County Clerk - Will County, Illinois
VILLAGE OF PLAINFIELD, ILLINOIS
PROPERTY TAX RATES - DIRECT AND OVERLAPPING GOVERNMENTS
Last Ten Levy Years
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Percentage Percentage
of Total of Total
2016 Taxable Village 2007 Taxable Village
Equalized Taxable Equalized Equalized
Assessed Assessed Assessed Assessed
Taxpayer Business/Properties Value Rank Valuation Value Rank Valuation
JVM Realty Corporation Springs at 127th 11,361,592$ 1 0.85%
Diageo North America**Manufacturer of liquors 9,479,104 2 0.71%
Edward Health Ventures Healthcare 5,617,042 3 0.42%
Wal-Mart Stores Inc.Discount department store 4,581,409 4 0.34%
American House Senior Living Senior care facility 4,375,000 5 0.33%
Meijer Discount department store 3,973,157 6 0.30%
Target Discount department store 3,336,886 7 0.25%
Menard's Inc.Home improvement center 3,219,591 8 0.24%
Chicago Bridge & Iron Engineering & technical center 2,921,135 9 0.22%
Coilplus Illinois Inc.Flat rolled steel processing 2,721,227 10 0.20%
United Distiller Manufacturer Manufacturer of liquors 11,647,050$ 1 0.84%
Edward Health Ventures Healthcare 10,115,270 2 0.73%
Wal-Mart Stores Inc.Discount department store 7,017,238 3 0.51%
Menard's Inc.Home improvement center 4,943,865 4 0.36%
Target Discount department store 4,191,105 5 0.30%
Meijer Discount department store 3,656,517 6 0.26%
Dayfield Properties Developer 3,385,919 7 0.25%
Mars-Kensington North LLC Land development 2,660,396 8 0.19%
Coilplus Illinois Inc.Flat rolled steel processing 2,542,870 9 0.18%
Chicago Bridge & Iron Engineering & technical center 2,530,645 10 0.18%
TOTAL 51,586,143$ 3.86%52,690,875$ 3.80%
** 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 include all taxable property of 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
2018 2009
PRINCIPAL PROPERTY TAXPAYERS
Current Year and Nine Years Ago
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Levy Collection Fiscal Percentage Collections in Total Collections Total Collections
Year Year Year Tax Levied Amount of Levy Subsequent Years To Date To Date
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%
2015 2016 2017 5,658,448 5,644,737 99.76%N/A 5,644,737 99.76%
2016 2017 2018 5,988,257 5,959,759 99.52%N/A 5,959,759 99.52%
Note: Levies and collections for tax levy years 2007 - 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
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VILLAGE OF PLAINFIELD, ILLINOIS
PROPERTY TAX ASSESSED VALUATIONS, RATES, AND TAX EXTENSIONS
Last Ten Levy Years
Tax Levy Year 2008 2009 2010 2011 2012
ASSESSED VALUATION 1,381,388,040$ 1,401,098,375$ 1,318,896,845$ 1,244,982,885$ 1,178,610,057$
Rate Amount Rate Amount Rate Amount Rate Amount Rate Amount
TAX EXTENSIONS
General 0.1663 2,297,916$ 0.2067 2,877,525$ 0.2012 2,643,631$ 0.2032 2,529,533$ 0.2158 2,543,386$
Debt service 0.0084 116,037 0.0024 33,611 0.0086 113,418 0.0090 112,021 0.0098 115,469
Police Pension 0.0724 999,924 0.0500 704,504 0.0682 899,517 0.0721 897,766 0.0767 903,769
IMRF 0.0419 578,668 0.0410 578,458 0.0436 573,793 0.0461 574,000 0.0490 577,376
Police protection 0.0449 620,110 0.0571 805,330 0.0607 799,295 0.0641 798,146 0.0682 803,595
Audit 0.0016 22,102 0.0007 11,148 0.0029 38,241 0.0031 38,567 0.0030 35,338
Liability insurance 0.0724 999,924 0.0500 704,504 0.0227 299,426 0.0321 399,660 0.0342 402,909
TOTAL TAX EXTENSIONS 0.4079 5,634,681$ 0.4079 5,715,080$ 0.4079 5,367,321$ 0.4297 5,349,693$ 0.4567 5,381,842$
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VILLAGE OF PLAINFIELD, ILLINOIS
PROPERTY TAX ASSESSED VALUATIONS, RATES, AND TAX EXTENSIONS (Continued)
Last Ten Levy Years
Tax Levy Year 2013 2014 2015 2016 2017
ASSESSED VALUATION 1,149,746,660$ 1,173,327,609$ 1,211,918,620$ 1,282,556,687$ 1,331,313,906$
Rate Amount Rate Amount Rate Amount Rate Amount Rate Amount
TAX EXTENSIONS
General 0.2210 2,541,014$ 0.2099 2,463,239$ 0.1974 2,393,149$ 0.1974 2,452,961$ 0.2002 2,671,680$
Debt service 0.0098 112,648 0.0098 114,957 0.0097 117,462 0.0097 118,846 0.0089 118,180
Police Pension 0.0783 900,238 0.0811 951,470 0.0911 1,103,800 0.0911 1,370,987 0.1057 1,404,818
IMRF 0.0500 574,887 0.0492 577,137 0.0476 576,756 0.0476 575,818 0.0407 540,770
Police protection 0.0696 800,217 0.0683 801,299 0.0662 802,149 0.0662 801,498 0.0711 945,182
Audit 0.0034 39,030 0.0033 38,713 0.0035 42,394 0.0035 42,308 0.0033 43,814
Liability insurance 0.0348 400,106 0.0453 531,426 0.0514 622,738 0.0514 625,839 0.0370 491,460
TOTAL TAX EXTENSIONS 0.4669 5,368,140$ 0.4669 5,478,241$ 0.4669 5,658,448$ 0.4669 5,988,257$ 0.4669 6,215,904$
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Calendar Year 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
General merchandise 1,727,764$ 1,619,652$ 1,704,879$ 1,422,877$ 1,888,789$ 2,014,318$ 2,957,023$ 2,923,484$ 2,872,245$ 2,810,504$
Food 552,145 530,171 469,346 447,894 377,464 405,981 619,855 920,851 760,833 862,417
Drinking and eating places 888,391 904,118 942,498 1,038,892 1,259,374 1,481,747 1,547,675 1,656,683 1,749,367 1,767,933
Apparel 93,359 104,996 120,139 347,612 127,335 121,980 87,001 139,606 162,603 179,296
Furniture, H.H., and radio 180,611 142,158 145,517 141,098 157,320 125,553 133,673 147,176 140,391 133,176
Lumber, building hardware 508,908 547,665 535,803 552,466 675,008 812,648 888,333 938,009 999,130 1,002,964
Automobile and filling stations 1,571,228 1,355,716 1,443,543 1,867,893 2,364,926 2,738,000 1,593,137 1,511,396 1,595,968 1,939,282
Drugs and miscellaneous retail 850,917 889,549 959,238 1,036,231 1,384,198 1,564,115 1,588,279 919,458 1,449,363 1,375,599
Agriculture and all others 442,817 480,942 465,556 468,099 291,404 300,709 376,539 877,983 545,409 556,959
Manufacturers 265,863 208,888 184,640 64,035 82,726 125,084 150,191 140,846 187,450 232,970
TOTAL 7,082,003$ 6,783,855$ 6,971,159$ 7,387,097$ 8,608,544$ 9,690,135$ 9,941,706$ 10,175,492$ 10,462,759$ 10,861,100$
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*1.00%1.00%1.00%1.00%1.50%1.50%1.50%1.50%1.50%1.50%
*1% effective January 1, 2008; 1.50% effective July 1, 2012.
Data Source
Illinois Department of Revenue - Will County only
VILLAGE OF PLAINFIELD, ILLINOIS
SALES TAX BY CATEGORY
Last Ten Calendar Years
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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
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%
2016 1.00%1.50%0.25%0.75%5.00%8.50%
2017 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
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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*
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 4.12%1,435
2014 27,985,000 -9,735,000 14,885,000 2,946,902 55,551,902 3.67%1,320
2015 28,162,546 -8,816,853 16,449,941 2,795,259 56,224,599 3.53%1,323
2016 25,895,431 -7,201,017 16,019,942 2,641,714 51,758,104 3.08%1,206
2017 23,481,950 -5,494,025 15,474,342 2,486,244 46,936,561 N/A 1,069
2018 20,985,301 -3,726,754 14,903,742 2,328,825 41,944,622 N/A 955
Note: Details of the Village's outstanding debt can be found in the notes to financial statements.
*See the schedule of Demographic and Economic Information for personal income and population data.
N/A - information not available
Data Source
Audited Financial Statements
Activities
VILLAGE OF PLAINFIELD, ILLINOIS
Governmental Business-Type
Activities
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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
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 3.05%870
2016 33,096,448 - 33,096,448 2.58%771
2017 28,975,975 - 28,975,975 2.18%660
2018 24,712,055 - 24,712,055 N/A N/A
N/A - information not available
VILLAGE OF PLAINFIELD, ILLINOIS
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DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT
Percentage Village's
Gross Debt Applicable Share
Governmental Unit Debt to the Village*of Debt
Village of Plainfield 20,985,301$ 100.000%20,985,301$
Will County -$ (2)(3)6.145%-
Will County Forest Preserve District 108,309,792 (1)6.145%6,655,637
Kendall County - (2)2.816%-
Kendall County Forest Preserve District 38,635,000 2.816%1,087,962
Plainfield Fire Protection District - (2)78.383%-
Oswegoland Park District 8,970,000 7.956%713,653
Plainfield Park District 12,263,000 45.949%5,634,726
Oswego Public Library District 6,320,000 7.443%470,398
Plainfield Unit School District #202 211,430,000 (3)35.881%75,863,198
Indian Prairie Unit School District #204 188,505,000 (3)0.600%1,131,030
Oswego Unit School District #308 308,994,977 (1)6.564%20,282,430
DuPage Community College #502 151,525,000 (2)0.067%101,522
Waubonsee Community College #516 58,005,000 1.364%791,188
Joliet Community College #525 73,435,000 (2)5.894%4,328,259
Total Overlapping Debt 1,166,392,769 117,060,003
Total Direct and Overlapping Debt 1,187,378,070$ 138,045,304$
(1) Includes original principal amounts of outstanding General Obligation Capital Appreciation Bonds.
(3) Excludes outstanding debt certificates.
Data Sources
The Village, Will, and Kendall County Clerk's Offices
VILLAGE OF PLAINFIELD, ILLINOIS
April 30, 2018
(2)Excludes principal amounts of outstanding General Obligation Alternate Revenue Source Bonds which are
expected to be paid from sources other than general taxation.
*The percentage of overlapping debt applicable is estimated using taxable assessed property values.Applicable
percentages were estimated by determining the portion of the Village's taxable assessed value that is within the
government's boundaries and dividing it by the Village's total taxable assessed value.
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PLEDGED-REVENUE COVERAGE
WATER REVENUE BONDS
Last Ten Fiscal Years
Water
Fiscal Charges Debt Service
Year and Other Principal Interest Coverage
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
2017 15,071,122 540,000 590,719 13.33
2018 16,004,417 565,000 567,081 14.14
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
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DEMOGRAPHIC AND ECONOMIC INFORMATION
Last Ten Fiscal Years
Per
Median Capita
Fiscal Household Personal Personal Unemployment
Year Population Income Income Income Rate
2009 37,334 102,863$ 1,202,826,812$ 32,218$ 9.1%
2010 39,581 105,897 1,309,814,452 33,092 8.6%
2011 40,151 *108,239 1,381,274,702 34,402 8.4%
2012 40,446 *111,637 1,428,229,152 35,312 7.5%
2013 41,739 *108,928 1,454,437,194 34,846 7.7%
2014 42,085 *111,536 1,515,354,595 36,007 6.0%
2015 42,484 *111,521 1,592,385,288 37,482 5.0%
2016 42,933 *116,896 1,678,937,898 39,106 4.7%
2017 43,926 N/A N/A N/A 4.0%
2018 N/A N/A N/A N/A 3.6%
N/A - information not available
Data Sources
U.S. Census Bureau - 2010 census data
*Census.gov estimate
Household and per capita income:
U.S. Census Bureau - American Fact Finder
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
2011-2015 American Community Survey 5-Yr Estimates
2012-2016 American Community Survey 5-Yr Estimates
Unemployment Rate:
Illinois Department of Employment Security (2018 through June - not seasonally adjusted)
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 2,964 6.75%Plainfield CUSD #202 1 3,000 8.04%
Diageo North America, Inc.2 525 1.20%Chicago Bridge & Iron Co.2 700 1.87%
Wal-Mart 3 390 0.89%Wal-Mart 3 555 1.49%
McDermott Intl (Chicago Bridge & Iron)4 290 0.66%Meijer 4 450 1.21%
Meijer 5 250 0.57%Diageo North America 5 300 0.80%
Target 6 175 0.40%Plainfield Stamping & Molding Co.6 214 0.57%
Jewel-Osco 7 150 0.34%Flexi-Mat Corp.7 210 0.56%
Community Unit School District 308 8 145 0.33%R.A. Bright Construction, Inc.8 200 0.54%
Lakewood Nursing and Rehab Center 9 140 0.32%Jewel 9 200 0.54%
Village of Plainfield 10 140 0.32%Fox Valley Press 10 170 0.46%
Population Population
43,926 37,334
Note: May include both full-time and full-time equivalent employees.
Data Source
From a canvas of employers, IL Services and Manufacturers Directory
VILLAGE OF PLAINFIELD, ILLINOIS
20092018
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Function/Program 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Administration/Finance 15.50 14.50 14.50 14.50 15.00 14.50 15.50 16.00 16.00 16.00
Police Department 85.00 77.00 73.50 75.50 75.50 76.50 76.50 77.50 76.50 76.50
Streets Department 23.50 19.50 17.00 17.50 18.50 18.50 18.50 18.50 18.50 18.50
Community Development 13.50 7.00 7.50 7.50 8.00 8.00 8.00 9.50 14.00 15.00
Water and Sewer Department 14.50 12.00 11.50 12.50 11.50 11.50 11.50 11.50 11.50 11.50
Public Works Engineering 4.00 3.00 2.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00
TOTAL 156.00 133.00 126.00 130.50 131.50 132.00 133.00 136.00 139.50 140.50
Data Source
Village Human Resources Department
VILLAGE OF PLAINFIELD, ILLINOIS
FULL-TIME EQUIVALENT EMPLOYEES
Last Ten Fiscal Years
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Function/Program 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
PUBLIC SAFETY
Police
Calls for service 42,707 39,228 41,048 40,490 37,529 34,570 33,252 34,031 34,176 33,476
Total traffic citations 12,827 12,455 12,125 14,037 11,086 9,819 7,951 6,974 6,842 6,285
Total DUI arrests 141 187 154 104 119 107 89 69 66 76
Total crashes 998 984 1,109 980 1,010 1,121 1,200 1,272 1,020 1,151
D.A.R.E Program student attendance 1,050 1,100 1,100 1,150 1,200 4,544 1,200 1,631 2,100 2,100
BUILDING PERMITS ISSUED
New residential units 172 66 58 88 111 135 166 138 143 144
General construction inspections 8,890 5,335 4,300 4,884 6,619 8,016 6,367 7,801 8,095 8,816
Commercial/office/industrial added (sq ft.)284,015 24,659 172,926 90,770 71,414 194,250 - 59,399 342,429 38,757
Acreage annexed 496 24 5 2.1 277 6 87 177 6 59
BUILDING PERMIT REVENUE
(*fiscal year)1,334,936$ 592,852$ 294,862$ 275,144$ 447,103$ 561,591$ 677,304$ 983,448$ 952,317$ 855,481$
PUBLIC WORKS
Asphalt patching/pothole repairs (tons)482 292 285 195 136 109 104 72 55 156
Shoulder stone repaired (tons)172 430 464 843 1,173 824 945 390 277 748
Snow removal events 57 45 29 20 12 26 27 23 21 19
Street sweeping (lane miles)1,357 1,976 1,760 1,627 1,958 1,635 1,334 1,398 1,906 2,180
Grounds maintenance and mowing (hours)1,829 2,070 1,974 2,280 1,709 1,904 1,552 1,674 1,026 1,483
UTILITY BILLING (*fiscal year)
Number of metered accounts 146,812 149,687 149,687 148,031 151,816 153,205 154,914 156,826 159,281 161,083
Water consumption billed (cubic feet)
Residential - 116,145,176 110,246,350 111,002,800 123,367,085 123,441,600 125,383,157 115,777,283 107,567,800 112,559,000
Commercial - 16,569,010 17,304,912 20,570,922 16,671,638 22,609,487 13,257,815 13,161,991 17,301,547 20,934,889
Industrial - 17,298,465 17,259,429 13,933,361 14,311,880 17,775,104 19,647,597 18,882,494 18,682,642 19,888,798
WATER
Average daily flow (MGD)3.236 3.096 3.062 3.091 3.49 3.205 3.098 3.136 3.092 3.234
Peak daily flow (MGD)5.886 5.732 5.841 6.324 6.644 5.941 4.656 5.292 5.768 5.218
Water main breaks 6 6 4 5 2 1 6 4 4 9
Number of valves exercised 332 166 2061 28 19 513 1,096 441 28 1,700
VILLAGE OF PLAINFIELD, ILLINOIS
OPERATING INDICATORS
Last Ten Calendar Years
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Function/Program 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
WASTEWATER
Miles of sanitary sewer main 220 220 220 220 220 220 220 220 221 221
Average daily flow (MGD)3.302 3.746 3.55 3.964 3.21 4.441 4.663 4.460 4.372 4.763
Bio-solids treated (tons)833 605 730 642 799 771 945 879 888 893
Sewers inspected/cleaned (feet)65,000 12,000 9,000 3,308 23,200 13,200 6,200 14,006 13,450 13,197
Note: Some statistics for previous years unavailable
Data Source
Various Village departments
Last Ten Calendar Years
VILLAGE OF PLAINFIELD, ILLINOIS
OPERATING INDICATORS (Continued)
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CAPITAL ASSET STATISTICS
Last Ten Fiscal Years
Function/Program 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
PUBLIC SAFETY
Police
Stations 1 1 1 1 1 1 1 1 1 1
Area patrols 6 6 6 6 6 6 6 6 6 6
Patrol units/shift 6 6 6 7 6 6 6 6 6 6
PUBLIC WORKS
Lane miles of streets 400 410 410 410 410 410 410 410 410 410
Traffic signals 6 7 7 7 4 4 4 4 4 4
WATER
Water mains (miles)226 226 226 226 229 229 229 229 230 230
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)220 220 220 220 220 220 220 220 221 221
Treatment capacity (gallons)4,300,000 7,500,000 7,500,000 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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