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FY 2004 Certified Comprehensive Annual Financial Report
IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISCOMPREHENSNEANNUALFINANCIALREPORTFortheYearEndedDecember312004PreparedbyFinanceDepartmentDanielPWiersmaDirectorofFinanceDanielaPartipiloAssistantDirectorofFinance IIIIIIIIIIIIIIIIIIIVilLAGEOFGLENVIEWILLINOISTABLEOFCONTENTSPagesINTRODUCTORYSECTIONPrincipalOfficials1OrganizationChart11CertificateofAchievementforExcellenceinFinancialReportingIIIDirectorofFinancesLetterofTransmittalIVVlllFINANCIALSECTIONINDEPENDENTAUDITORSREPORT12GENERALPURPOSEEXTERNALFINANCIALSTATEMENTSManagementsDiscussionandAnalysisMDA113BasicFinancialStatementsGovernmentWideFinancialsStatementsStatementofNetAssets3StatementofActivities45FundFinancialStatementsGovernmentalFundsBalanceSheet67ReconciliationofFundBalancesofGovernmentalFundstotheGovernmentalActivitiesintheStatementofNetAssets8StatementofRevenuesExpendituresandChangesinFundBalances910ReconciliationoftheGovernmentalFundsStatementofRevenuesExpendituresandChangesinFundBalancestotheGovernmentalActivitiesintheStatementofActivities11 VilLAGEOFGLENVIEWILLINOISTABLEOFCONTENTSContinuedPagesIIIIIIIIIIIIIIIIIIIFINANCIALSECTIONContinuedGENERALPURPOSEEXTERNALFINANCIALSTATEMENTSContinuedBasicFinancialStatementsContinuedFundFinancialStatementsContinuedProprietaryFundsStatementofNetAssetsStatementofRevenuesExpensesandChangesinNetAssetsStatementofCashFlowsFiduciaryFundsStatementofFiduciaryNetAssetsStatementofChangesinFiduciaryNetAssetsNotestoFinancialStatementsREQUIREDSUPPLEMENTARYINFORMATIONScheduleofRevenuesExpendituresandChangesinFundBalanceBudgetandActualGeneralFundSpecialTaxAllocationFundScheduleofFundingProgressIllinoisMunicipalRetirementFundPolicePensionFundFirefightersPensionFundScheduleofEmployerContributionsIllinoisMunicipalRetirementFundPolicePensionFundFirefightersPensionFundNotestoRequiredSupplementaryInformation121314151617185556575859606162636465 IIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISTABLEOFCONTENTSContinuedFINANCIALSECTIONContinuedCOMBININGANDINDIVIDUALFUNDFINANCIALSTATEMENTSANDSCHEDULESMAJORGOVERNMENTALFUNDSScheduleofRevenuesExpendituresandChangesinFundBalanceBudgetandActualVillagePermanentFundGNASBondFundSeries1995ScheduleofDetailedExpendituresBudgetandActualGNASBondFundSeries1995ScheduleofRevenuesExpendituresandChangesinFundBalanceBudgetandActualGlenLandSalesFundGeneralFundScheduleofRevenuesBudgetandActualScheduleofExpendituresBudgetandActuaLScheduleofDetailedExpendituresBudgetandActualNONMAJORGOVERNMENTALFUNDSCombiningBalanceSheetCombiningStatementofRevenuesExpendituresandChangesinFundBalancesSchedulesofRevenuesExpendituresandChangesinFundBalanceBudgetandActualForeignFireInsuranceFundIllinoisMunicipalRetirementFundMotorFuelTaxFundRefuseandRecyclingFund911CommunicationsFundGNASRedevelopmentFundScheduleofExpendituresBudgetandActualGNASRedevelopmentFundAdministrationDepartmentSchedulesofRevenuesExpendituresandChangesinFundBalanceBudgetandActualGNASCaretakerFundScheduleofExpendituresBudgetandActualGNASCaretakerFundPages666768697071727374798083848788899091929394959698 VILLAGEOFGLENVIEWILLINOISTABLEOFCONTENTSContinuedPagesIIIIIIIIIIIIIIIIIIFINANCIALSECTIONContinuedCOMBININGANDINDIVIDUALFUNDFINANCIALSTATEMENTSANDSCHEDULESContinuedNONMAJORGOVERNMENTALFUNDSContinuedSchedulesofRevenuesExpendituresandChangesinFundBalanceBudgetandActualEscrowDepositFundDepositFundPoliceDepartmentSpecialAccountFundCorporatePurposeBondSeriesof1996FundCorporatePurposeBondSeriesof1998FundCorporatePurposeBondSeriesof2000FundCorporatePurposeBondSeriesof2001FundGeneralObligationRefundingBondSeriesof2002FundCorporatePurposeBondSeriesof2003FundCapitalProjectsFundBondFundSeriesof19932000ProjectFund2001ProjectFund2003ProjectFundMAJORENTERPRISEFUNDSWaterworksFundScheduleofRevenuesExpensesandChangesinNetAssetsBudgetandActualScheduleofOperatingExpensesBudgetandActualScheduleofCapitalAssetsandDepreciationNorthMaineWaterandSewerFundScheduleofRevenuesExpensesandChangesinNetAssetsBudgetandActualScheduleofOperatingExpensesBudgetandActualScheduleofCapitalAssetsandDepreciationNONMAJORENTERPRISEFUNDSCombiningStatementofNetAssetsCombiningStatementofRevenuesExpensesandChangesinNetAssetsCombiningStatementofCashFlows99100101102103104105106107108109110111112113114115116117118119120121122123 IIIIIIIIIIIIIIIIIIVilLAGEOFGLENVIEWILLINOISTABLEOFCONTENTSContinuedFINANCIALSECTIONContinuedCOMBININGANDINDIVIDUALFUNDFINANCIALSTATEMENTSANDSCHEDULESContinuedNONMAJORENTERPRISEFUNDSContinuedWholesaleWaterFundScheduleofRevenuesExpensesandChangesinNetAssetsBudgetandActualScheduleofOperatingExpensesBudgetandActuaLScheduleofCapitalAssetsandDepreciationSewerageFundScheduleofRevenuesExpensesandChangesinNetAssetsBudgetandActualScheduleofOperatingExpensesBudgetandActualScheduleofCapitalAssetsandDepreciationCommuterParkingLotFundScheduleofRevenuesandExpensesandChangesinNetAssetsBudgetandActualScheduleofOperatingExpensesBudgetandActualScheduleofCapitalAssetsandDepreciationINTERNALSERVICEFUNDSCombiningStatementofNetAssetsCombiningStatementofRevenuesExpensesandChangesinNetAssetsCombiningStatementofCashFlowsMunicipalEquipmentRepairFundScheduleofRevenuesExpensesandChangesinNetAssetsBudgetandActualScheduleofOperatingExpensesBudgetandActuaLScheduleofCapitalAssetsandDepreciationScheduleofRevenuesExpensesandChangesinNetAssetsBudgetandActualInsuranceFundCapitalEquipmentReplacementFundPages124125126127128129130131132133134135136137138139140141 VILLAGEOFGLENVIEWILLINOISTABLEOFCONTENTSContinuedPagesIIIIIIIIIIIIIIIIIIIFINANCIALSECTIONContinuedCOMBININGANDINDIVIDUALFUNDFINANCIALSTATEMENTSANDSCHEDULESContinuedFIDUCIARYFUNDSPENSIONTRUSTFUNDSCombiningStatementofPlanNetAssetsCombiningStatementofChangesinPlanNetAssetsScheduleofChangesinPlanNetAssetsBudgetandActualPolicePensionFundFirefightersPensionFundAGENCYFUNDSCombiningStatementofChangesinAssetsandLiabilitiesAgencyFundsCOMPONENTUNITLibraryFundStatementofNetAssetsandBalanceSheeLScheduleofRevenuesExpendituresandChangesinFundBalanceBudgetandActualScheduleofExpendituresBudgetandActuaLSUPPLEMENTALDATALongTermDebtRequirementsCorporatePurposeBondSeriesof1997CorporatePurposeNotesof1997CorporatePurposeBondSeriesof1998ACorporatePurposeBondSeriesof1998BCorporatePurposeBondSeriesof2000CorporatePurposeBondSeriesof2001GeneralObligationRefundingBondSeriesof2002CorporatePurposeBondSeriesof2003ACorporatePurposeBondSeriesof2003BCorporatePurposeBondSeriesof2004ACorporatePurposeBondSeriesof2004B142143144145146147148149150151152153154155156157158159160 IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISTABLEOFCONTENTSContinuedSTATISTICALSECTIONGovernmentWideInformationGovernmentWideRevenuesGovernmentWideExpensesFundInformationGeneralGovernmentalRevenuesbySourceLastTenFiscalyearsGeneralGovernmentalExpendituresbyFunctionLastTenFiscalYearsPropertyTaxAssessedValuationsRatesExtensionsandCollectionsLastTenLevyYearsAssessedandEstimatedActualValueofTaxablePropertyLastTenLevyYearsPropertyTaxRatesDirectandOverlappingGovernmentsLastTenLevyYearsRatioofNetGeneralObligationBondedDebttoAssessedValueandNetGeneralObligationBondedDebtPerCapitaLastTenFiscalYearsScheduleofLegalDebtMarginRatioofAnnualDebtServiceExpendituresforGeneralObligationDebttoTotalGeneralGovernmentalExpendituresLastTenFiscalYearsScheduleofRevenueBondCoverageWaterworksFundLastTenFiscalYearsDemographicStatisticsLastTenFiscalYearsConstructionValueandBuildingPermitsLastTenFiscalYearsMiscellaneousStatisticsTenWealthiestIllinoisCommunities2000CensusMajorGeneralFundRevenueSourcesADDITIONALDISCLOSURESREQUIREDBYSECRULE15c212StatementofIndebtednessasofDecember312004RetirementScheduleofOutstandingVillageGeneralObligationDebtDebtRatiosandPerCapitaDebtLastTenBondSalesDetailedOverlappingBondedIndebtednessPayablefromPropertyTaxesatDecember312004EqualizedAssessedValuationforTaxingPurposesTaxRatesPer100EqualizedAssessedValuationTaxExtensionsandCollectionsVillagePurposesOnly1997and2002TaxBaseDistributionbyPropertyClassificationTenLargestTaxpayersPages161162163164165166167168169170171172173174175176177178179180180181181181182182182183183183183 VILLAGEOFGLENVIEWILLINOISTABLEOFCONTENTSContinuedPagesIIIIIIIIIIIIIIIIIIISTATISTICALSECTIONContinuedADDITIONALDISCLOSURESREQUIREDBYSECRULE15c212ContinuedGeneralFundSummaryStatementofRevenuesExpendituresandChangesinFundBalance19992004and2005BudgetBalanceSheets19992004CombinedStatementAllFundsFundBalances19992004andSummary2004RevenuesExcessRevenuesandFundBalancesCapitalAssetsatDecember312004184184185186187 IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISPRINCIPALOFFICIALSDecember312004KerryCummingsMaryBethDenefeJeffreyMLernerLEGISLATIVEVillageBoardofTrusteesLawrenceRCarlsonVillagePresidentToddHilemanVillageClerkTreasurerEXECUTIVEToddHilemanVillageManagerFINANCEDEPARTMENTDanielPWiersmaDirectorofFinanceDanielaPartipiloAssistantDirectorofFinance1JamesPattersonMichaelJGuinaneKimballWoodrow VillageofGlenviewOrganizationalChartElectorateIVillagePresidentBoardofTrusteesIHealthOfficer1VillageManagervillageAttorneyProsecutorIAssistantVillageManagerPersonnelDirectorDirectorofDirectorofDirectorofFinanceDirectorFireChiefPoliceChiefEconomicDevelopmentPublicWorksDevelopmentBOARDSANDCOMMISSIONSAPPOINTEDBYTHEPRESIDENTANDBOARDOFTRUSTEESAPPEARANCECOMMISSIONBUILDINGCOMMISSIONCOMPREHENSIVEPLANREVIEWCOMMISSIONELECTRICALCOMMISSIONFIREFIGHTERPENSIONBOARDTHEGLENREDEVELOPMENTCOMMISSIONHISTORICPRESERVATIONCOMMISSIONFORESTRYCOMMISSIONPLANCOMMISSIONPOLICEANDFIRECOMMISSIONPOLICEPENSIONBOARDSENIORCITIZENCOMMISSIONZONINGBOARDOFAPPEALS11 IIIIIIIIIIIIIIIIIIICertificateofAchievementforExcellenceinFinancialReportingPresentedtoVillageofGlenviewIllinoisForitsComprehensiveAnnualFinancialReportfortheFiscalYearEndedDecember312003ACertificateofAchievementforExcellenceinFinancialReportingispresentedbytheGovernmentFinanceOfficersAssociationoftheUnitedStatesandCanadatogovernmentunitsandpublicemployeeretirementsystemswhosecomprehensiveannualfinancialreportsCAFRsachievethehigheststandardsingovernmentaccountingandfmancialreporting7cPresidentExecutiveDirectorlll IGlenviewIIIIIIIIIIIIIIIIJune212005HonorablePresidentandMembersoftheBoardofTrusteesCitizensoftheVillageofGlenviewTheComprehensiveAnnualFinancialReportCAFRoftheVillageofGlenviewtheVillagefortheyearendedDecember312004issubmittedherewithThisreportrepresentsacomprehensivepictureoftheVillagesfinancialactivitiesduring2004andthefinancialconditionofitsvariousfundsatDecember312004TheVillageisrequiredtoissueannuallyareportofitsfinancialpositionandactivitypresentedinconformancewithgenerallyacceptedaccountingprinciplesGAAPandauditedinaccordancewithgenerallyacceptedauditingstandardsbyanindependentfirmofcertifiedpublicaccountantsAlthoughformallyaddressedtotheelectedofficialsandcitizensofGlenviewthisfinancialreporthasnumerousotherusersForemostamongtheotherusersarethebondholdersoftheVillagefinancialinstitutionseducationalinstitutionsandothergovernmentalentitiesResponsibilityforboththeaccuracyofthedatapresentedaswellasthecompletenessandfairnessofthepresentationincludingalldisclosuresrestswiththeVillageWebelievethedataaspresentedisaccurateinallmaterialrespectsthatitispresentedinamannerdesignedtofairlysetforththefinancialpositionoftheVillageandtheresultsofitsoperationsasmeasuredbythefinancialactivityofitsvariousfundsandthatalldisclosuresnecessarytoenablethereadertogainthemaximumunderstandingoftheVillagesfinancialaffairshavebeenincludedSikichGardnerCoLLPcertifiedpublicaccountantshaveissuedanunqualifiedcleanopinionontheVillageofGlenviewsfinancialstatementsfortheyearendedDecember312004TheindependentauditorsreportislocatedatthefrontofthefinancialsectionofthisreportThecomprehensiveannualfinancialreportispresentedinthreesectionsintroductoryfinancialandstatisticalTheintroductorysectionincludesthistransmittallettertheVillagesorganizationalchartandalistofprincipalofficialsThefinancialsectionincludesthegeneralpurposefinancialstatementsandthecombiningindividualfundandaccountgroupfinancialstatementsandschedulesaswellastheindependentauditorsreportonthefinancialstatementsandschedulesThestatisticalsectionincludesselectedfinancialanddemographicinformationgenerallypresentedonamultiyearbasisaswellasallcontinuingdisclosuresrequiredbySecuritiesExchangeCommissionRule15c212IT1225WaukeganRoadGlenviewIllinois6002584772417008477244232TDD IIIIIIIIIIIIIIIIIIITheReportingEntityanditsServicesTheVillageofGlenviewwasincorporatedin1899andoperatesunderthecouncilmanagerformofgovernmentThelegislativebodyconsistsoftheVillagePresidentandBoardofsixTrusteesallelectedonanatlargebasistooverlappingfouryeartermsTheVillageManagerisresponsibleforthedaytodayoperationoftheVillageTheVillageisahomerulemunicipalityasdefinedbytheIllinoisConstitutionLocatedapproximately20milesnorthoftheCityofChicagoinCookCountytheVillageoccupiesalandareaof1327squaremilesandhasacertified2000Censusof41847AdditionaldemographicinformationmaybefoundinthestatisticalsectionofthisreportTheVillageprovidesafullrangeofgeneralgovernmentalservicesSpecificallytheVillageprovidespoliceandfireprotectionhealthserviceswaterandsewerutilitiesstreetconstructionandmaintenancecodeenforcementplanningandzoningandgeneraladministrativeservicesInadditiontoservingVillageresidentstheFireDepartmentalsoprovidesfireprotectionandambulanceservicetotheGlenbrookFireProtectionDistrictwhichiscomprisedofapproximately20000residentslocatedinunincorporatedCookCountyandtheVillageofGolfBothoftheseentitieshavelongtermintergovernmentalagreementswiththeVillagetopayfortheseservicesLikewisetheVillageoperatestheNorthMaineutilitiessystemwhichserves5100customersalsoprimarilylocatedinunincorporatedCookCountyThefinancialstatementsincludedinthisreportaredistinctlydifferentinformthanthoseissuedpriorto2003ThestatementshavebeenpreparedinaccordancewithStatementNo34BasicFinancialStatementsandManagementsDiscussionandAnalysisforStateandLocalGovernmentsoftheGovernmentalAccountingandStandardsBoardGASBTheGASBisanorganizationthatestablishesaccountingandfinancialreportingstandardsforstateandlocalgovernmentsintheUnitedStatesStatementNo34significantlychangedtherequiredformatforgovernmentalstatementsinanumberofwaysThemostsignificantofthesechangeswastorequirethatgovernmentsprepareentitywidefinancialstatementsinadditiontothefundbasedfinancialstatementsgovernmentshavetraditionallypreparedTheentitywidefinancialstatementsattempttopresentagovernmentsfinancialpositionandresultsofoperationsinamannersimilartobusinessMoreinformationaboutthisnewfinancialreportingmodelisprovidedinManagementsDiscussionandAnalysisMDATheMDAislocatedinthefinancialsectionofthisreportThefinancialreportingentityoftheVillageofGlenviewiscomprisedofallfundsandaccountgroupsoftheprimarygovernmentietheVillageofGlenviewaslegallydefinedanditspensiontrustfundstheGlenviewPolicePensionFundandtheGlenviewFirefightersPensionFundThesefundsweredeterminedtobepensiontrustfundsduetotheirfiduciaryandfiscalrelationshipswiththeVillageastheirsolepurposeistoprovideretirementbenefitstotheVillagesswornpoliceofficersandfirefightersTheGlenviewPublicLibraryisincludedasadiscretepresentationsinceaseparatelyelectedboardoftrusteesgovernsitNootherlegallyseparateentityqualifiesasacomponentunitoftheVillagev AccountingSystemandBudgetaryControlTheaccountsoftheVillageareorganizedortthebasisoffundseachofwhichisconsideredaseparateanddistinctaccountingentityTheoperationsofeachfundareaccountedforwithaseparatesetofselfbalancingaccountsthatcompriseitsassetsliabilitiesfundequityrevenuesandexpendituresRevenuesareallocatedtoandaccountedforinindividualfundsbaseduponthepurposeforwhichtheyaretobeexpendedandthemeansbywhichspendingactivitiesarecontrolledTheaccountingrecordsforgeneralgovernmentaloperationsaremaintainedonthemodifiedaccrualbasiswithrevenuesbeingrecordedwhenavailableandmeasurableandexpendituresbeingrecordedwhenmaterialsorservicesarereceivedandtheliabilityincurredAccountingrecordsfortheVillagesenterprisefundsinternalservicefundsandpensiontrustfundsaremaintainedontheaccrualbasisofaccountingManagementoftheVillageisresponsibleforestablishingandmaintainingasystemofinternalaccountingcontrolsThesecontrolsaredesignedtoassurethattheassetsoftheVillagearesafeguardedagainstanymateriallosstheftormisuseThesecontrolsassurethatthefinancialstatementsareinconformitywithgenerallyacceptedaccountingprinciplesInternalaccountingcontrolsaredesignedtoprovidereasonablebutnotabsoluteassurancesthatcontrolobjectiveswillbemetTheconceptofreasonableassurancesrecognizesthat1thecostofcontrolshouldnotexceedthebenefitslikelytobederivedand2theevaluationofcostsandbenefitsrequireestimatesandjudgmentbyManagementTheannualbudgetservesasthefoundationfortheVillagesfinancialplanningandcontrolStatelawrequiresthatamunicipalityoperatingunderthebudgetsystemadoptitsannualbudgetpriortothestartofitsfiscalyearThroughthebudgetspendingauthorityisconveyedbyexpenditureobjectThelegallevelofbudgetarycontrolisthedepartmentlevelorwherenodepartmentalsegregationofafundexiststhefundlevelFactorsAffectingFinancialConditionEconomicOutlookThereareseveralmeasuresofeconomichealthforlocalgovernmentsPerhapsfourofthemoreobjectivemeasuresorindicatorsarelocalemploymentlevelsretailsalesactivityfamilyincomelevelsandconstructionactivityEmploymentlevelsintheVillagehavealwayssurpassedthatofCookCountyandtheStateofIllinoisasawholeAsofDecember312004theVillagesunemploymentratewas46comparedto66forCookCounty62fortheStateofIllinoisand55fortheUnitedStatesRetailsaleswithintheVillagetotaled1163billionfor2004Thisrepresentsanincreaseof80millionor740from2003Retailsaleshaveincreasedby5077millionor777since2000WhilethegrowthinretailsaleshasbeensignificanttheVillageispleasedtonotethatitsviIIIIIIIIIIIIIIIIIII IIIIIIIIIIIIIIIIIIIretailbasehasinfactbecomemorediversifiedTheVillageexpectsretailssalestoremainstrongasadditionalretailspacecurrentlyunderconstructioncomesonlineMedianfamilyincomefiguresfromthe2000CensusdemonstratethattheaverageincomeofGlenviewresidentsfarexceedscountyandstateaveragesAccordingtotheCensusBureauGlenviews2000medianfamilyincomewas96552comparedto53784forCookCounty55545fortheStateofllIinoisand50046fortheUnitedStatesThisrankedGlenviewasthefifthwealthiestcommunityintheStateofllIinoisamongstcommunitieswithpopulationsover25000TheVillagealsorankedfifthintermsofmedianhouseholdincomeNewcommercialandresidentialconstructionactivitywassignificantin2004astherewere11newcommercialdevelopmentsconstructedwithatotalvalueof35millionand214newresidentialhousingpermitsissuedwithatotalvalueof89millionLongtermfinancialplanningTheVillageutilizesa5yearCapitalImprovementProgramTIPtoaddressmajorcapitalandinfrastructureimprovementsForaprojecttobeincludedintheCIPitmustinvolvethecreationorpurchaseofatangibleassetwithanoriginalcostofatleast25000andausefullifeofmorethanoneyearProjectsthatareprogrammedforthefirstyearoftheCIPIEtheupcomingbudgetyeararemostcloselyscrutinizedinthecapitalplanningprocessbecauseassociatedfundingmustbeprovidedinthatbudgetTheVillagehasprimarilyfollowedapayasyougofundingstrategyformaintenanceandreplacementofassetsandhasissueddebtfornewprojectsAllotheremployeesoftheVillagewhoworkatleast1000hoursperyeararecoveredbytheIllinoisMunicipalRetirementFundIMRFastatewidepensionplanIMRFactsasacommoninvestmentandadministrativeagentforlocalgovernmentsinIllinoisBenefitprovisionsandfundingrequirementsareestablishedbyStatestatuteEmployeesparticipatingintheIMRFarerequiredtocontribute45oftheirannualsalaryandtheVillageisrequiredtocontributetheremainingamountsnecessarytofundthecoverageofitsemployeesintheplanTheVillagescontributionratefor2004was867ofemployeesalariesThenotestothefinancialstatementsandtherequiredsupplementaryinformationprovidemoreinformationpertainingtoemployeepensionsIndependentAuditStatestatutesrequireanannualauditbyindependentcertifiedpublicaccountantsTheaccountingfirmofSikichGardnerCoLLPperformedtheauditontheVillages2004financialstatementsTheindependentauditorsreportisincludedinthefinancialsectionofthisreportTheauditorshavegiventhisreportanunqualifiedopinionmeaningthatthefinancialstatementsfairlypresenttheVillagesfinancialpositionatDecember312004andtheresultsofoperationsfortheyearthenendedvii AwardsTheGovernmentFinanceOfficersAssociationoftheUnitedStatesandCanadaGFOAawardedaCertificateofAchievementforExcellenceinFinancialReportingtotheVillageofGlenviewforitscomprehensiveannualfinancialreportCAFRforthefiscalyearendedDecember312003TheCertificateofAchievementisaprestigiousnationalawardrecognizingconformancewiththehigheststandardsforpreparationofstateandlocalgovernmentfinancialreportsInordertobeawardedaCertificateofAchievementagovernmentmustpublishaneasilyreadableandefficientlyorganizedcomprehensiveannualfinancialreportwhosecontentsconformtoprogramstandardsTheCAFRmustsatisfybothgenerallyacceptedaccountingprinciplesandapplicablelegalrequirementsACertificateofAchievementisvalidforaperiodofoneyearonlyTheVillageofGlenviewhasreceivedaCertificateofAchievementfortwentytwoconsecutiveyearsfiscalyearsended19822003WebelieveourcurrentreportcontinuestoconformtotheCertificateofAchievementprogramrequirementsandwillbesubmittingittoGFOAAcknowledgmentsThepreparationofthecomprehensiveannualfinancialreportwasmadepossiblebythededicatedserviceoftheentirestaffoftheFinanceDepartmentEachmemberoftheDepartmenthasmysincereappreciationforthecontributionsmadeinthepreparationofthisreportInparticularIwouldliketoacknowledgetheeffortsofDanielaPartipiloAssistantFinanceDirectorOscarRichardsonAccountingSupervisorBradWilsonAccountantandDebiLubbatfortheireffortsFinallyappreciationisexpressedtotheVillagePresidentandBoardofTrusteesandtheVillageManagerfortheirleadershipandsupportinplanningandconductingthefiscalaffairsoftheVillageinaresponsiblemannerDanielPWiersmaDirectorofFinanceviiiIIIIIIIIIIIIIIIIIII IIIIIIIIIIIIIIIIIIISikchGardnerCoLLPiMembersofAmericanInstituteofCertifiedPublicAccountantsAMemberofSikichGroupLLC998CorporateBoulevardAuroraIL605029102IllinoisCPASocietyINDEPENDENTAUDITORSREPORTTheHonorableVillagePresidentMembersoftheBoardofTrusteesVillageofGlenviewGlenviewIllinoisWehaveauditedthebasicfinancialstatementsandthecombiningandindividualfundfinancialstatementsoftheVillageofGlenviewIllinoisasofandfortheyearendedDecember312004aslistedintheaccompanyingtableofcontentsThesefinancialstatementsaretheresponsibilityoftheVillageofGlenviewIllinoismanagementOurresponsibilityistoexpressanopiniononthesebasicfinancialstatementsbasedonourauditWeconductedourauditinaccordancewithauditingstandardsgenerallyacceptedintheUnitedStatesofAmericaThosestandardsrequirethatweplanandperformtheaudittoobtainreasonableassuranceaboutwhetherthefinancialstatementsarefreeofmaterialmisstatementAnauditincludesexaminingonatestbasisevidencesupportingtheamountsanddisclosuresinthemancialstatementsAnauditalsoincludesassessingtheaccountingprinciplesusedandsignificantestimatesmadebymanagementaswellasevaluatingtheoverallfinancialstatementpresentationWebelievethatourauditprovidesareasonablebasisforouropinionInouropinionthebasicfinancialstatementsreferredtoabovepresentfairlyinallmaterialrespectsthefinancialpositionoftheVillageofGlenviewIllinoisasofDecember312004andtheresultsofitsoperationsandthecashflowsofitsproprietaryfundtypesfortheyearthenendedinconformitywithaccountingprinciplesgenerallyacceptedintheUnitedStatesofAmericaAlsoinouropinionthecombiningandindividualfundfinancialstatementsreferredtoabovepresentfairlyinallmaterialrespectsthefinancialpositionofeachoftheindividualfundsoftheVillageofGlenviewIllinoisasofDecember312004andtheresultsofoperationsofsuchfundsandthecashflowsofindividualproprietaryfundsfortheyearthenendedinconformitywithaccountingprinciplesgenerallyacceptedintheUnitedStatesofAmericaOurauditwasmadeforthepurposeofforminganopiniononthebasicfinancialstatementstakenasawholeandonthecombiningandindividualfundfinancialstatementsTheschedulesandthesupplementaldatalistedintheaccompanyingtableofcontentsarepresentedforpurposesofadditionalanalysisandarenotarequiredpartofthefinancialstatementsoftheVillageofGlenviewIllinoisSuchinformationhasbeensubjectedtotheauditingproceduresappliedintheauditofthebasiccombiningandindividualfundfinancialstatementsandinouropinionisfairlypresentedinallmaterialrespectsinrelationtothebasicfinancialstatementsandeachofthecombiningandindividualfundfinancialstatementstakenasawhole1 IIIIIIIIIIIIIIIIIIITheprioryearcomparativeinformationhasbeenderivedfromtheVillages2003financialstatementsandinourreportdatedSeptember12004weexpressedunqualifiedopinionsontherespectivefinancialstatementsofthegovernmentalactivitiesthebusinesstypeactivitiesandaggregatediscretelypresentedcomponentunitseachmajorfundandtheaggregateremainingfundinformationTheManagementsDiscussionandAnalysisandtheotherrequiredsupplementaryinformationlistedinthetableofcontentsarenotarequiredpartofthebasicfinancialstatementsbutaresupplementaryinformationrequiredbytheGovernmentalAccountingStandardsBoardWehaveappliedcertainlimitedprocedureswhichconsistedprincipallyofinquiriesofmanagementregardingthemethodsofmeasurementandpresentationofthesupplementaryinformationHoweverwedidnotaudittheinformationandexpressnoopiniononitTheintroductoryandstatisticalinformationlistedinthetableofcontentswasnotauditedbyusandaccordinglywedonotexpressanopinionthereoniIJtLtjiPAuroraillinoisMay1320052 IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISMANAGEMENTSDISCUSSIONANDANALYSISDECEMBER312004TheManagementDiscussionandAnalysisMDAisdesignedto1assistthereaderinfocusingonsignificantfinancialissues2provideanoverviewoftheVillagesfinancialactivity3identifyVillagesfinancialpositionandabilitytoaddressfuturechallenges4identifymaterialdeviationsfrombudgetand5identifyconcernsspecifictoindividualfundsSincetheMDAisdesignedtofocusonthecurrentyearsactivitiesresultingchangesandcurrentlyknownfactspleasereaditinconjunctionwiththeTransmittalLetterbeginningonpageivandtheVillagesfinancialstatementsUSINGTHEFINANCIALSECTIONOFTHISCOMPREHENSIVEANNUALREPORTPriorto2003theprimaryfocusoflocalgovernmentfinancialstatementshasbeensummarizedbyfundtypeinformationonacurrentfinancialresourcebasisThisapproachhasbeenmodifiedandtheVillagesFinancialStatementspresenttwokindsofstatementseachwithadifferentsnapshotoftheVillagesfmancesTheFinancialStatementsfocusisnowonboththeVillageasawholegovernmentwideandonthemajorindividualfundsBothperspectivesgovernmentwideandmajorfundallowtheusertoaddressrelevantquestionsbroadenabasisforcomparisonyeartoyearorgovernmenttogovernmentandenhancetheVillagesaccountabilityGovernmentWideFinancialStatementsTheGovernmentWideFinancialStatementsseepages35aredesignedtoemulatethecorporatesectorinthatallgovernmentalandbusinesstypeactivitiesareconsolidatedintocolumnsthataddtoatotalforthePrimaryGovernmentThefocusoftheStatementofNetAssetstheUmestrictedNetAssetsisdesignedtobesimilartobottomlineresultsfortheVillageanditsgovernmentalandbusinesstypeactivitiesThisstatementforthefirsttimecombinesandconsolidatesgovernmentalfundscurrentfinancialresourcesshorttermspendableresourceswithcapitalassetsandlongtermobligationsusingtheaccrualbasisofaccountingandeconomicresourcesmeasurementfocusOvertimeincreasesordecreasesinnetassetsmayserveasausefulindicatorofwhetherornotthefinancialpositionoftheVillageisimprovingordeterioratingTheStatementofActivitiesseepages45presentsinformationshowinghowtheVillagesnetassetschangedduringthemostrecentfiscalyearandisfocusedonboththegrossandnetcostofvariousactivitiesincludinggovernmentalandbusinesstypewhicharesupportedbytheVillagesgeneraltaxesandotherresourcesThisisintendedtosummarizeandsimplifytheusersanalysisofthecostofvariousgovernmentservicesandorsubsidytovariousbusinesstypeactivitiesSeeindependentauditorsreportMDAl VILLAGEOFGLENVIEWILLINOISMANAGEMENTSDISCUSSIONANDANALYSISContinuedTheGovernmentalActivitiesreflecttheVillagesbasicservicesincludingpolicefirepublicworkshighwaysandstreetscommunitydevelopmentandgeneraladministrationPropertytaxessharedStatesalestaxeslocalutilitytaxesandsharedStateincometaxesfinancethemajorityoftheseactivitiesTheBusinessTypeActivitiesreflectprivatesectortypeoperationsWaterworksFundSewerageFundWholesaleWaterFundNorthMaineWaterandSewerFundandtheCommuterParkingLotFundwherethefeeforservicetypicallycoversallormostofthecostofoperationincludingdepreciationFundFinancialStatementsAfundisagroupingofrelatedaccountsthatisusedtomaintaincontroloverresourcesthathavebeensegregatedforspecificactivitiesorobjectivesTheFundFinancialStatementallowsthedemonstrationofsourcesandusesandorbudgetingcomplianceassociatedtherewithTraditionalusersofgovernmentalfinancialstatementswillfindtheFundFinancialStatementspresentationmorefamiliarThefocusisnowonmajorfundsratherthanthepreviousmodelsfundtypesAllofthefundsoftheVillagecanbedividedintothreecategoriesgovernmentalfundsproprietaryfundsandfiduciaryfundsGovernmentalFundsTheGovernmentalMajorFundpresentationseepages611ispresentedonasourcesandusesofliquidresourcesbasisThisisthemannerinwhichthefinancialplanthebudgetistypicallydevelopedTheflowandavailabilityofliquidresourcesisaclearandappropriatefocusofanyanalysisofagovernmentThefocusofgovernmentalfundsisnarrowerthanthatoftheGovernmentWideFinancialStatementsBoththeGovernmentalFundBalanceSheetandtheGovernmentalFundStatementofRevenuesExpendituresandChangesinFundBalanceprovideareconciliationtofacilitatethecomparisonbetweengovernmentalfundsandgovernmentalactivitiesTheGovernmentalMajorFundsTotalcolumnrequiresareconciliationbecauseofthedifferentmeasurementfocuscurrentmancialresourcesversustotaleconomicresourceswhichisreflectedTheflowofcurrentmancialresourcesreflectsbondproceedsandinterfundtransfersasotherfinancialsourcesaswellascapitalexpendituresandbondprincipalpaymentsasexpendituresThereconciliationeliminatesthesetransactionsandincorporatesthecapitalassetsandlongtermobligationbondandothersintotheGovernmentalActivitiescolumnintheGovernmentWideStatementsTheVillagemaintainstwentysixindividualgovernmentalfundsInformationispresentedseparatelyintheGovernmentalFundBalanceSheetandintheGovernmentalFundStatementofRevenuesExpendituresandChangesinFundBalancesfortheGeneralFundSpecialTaxAllocationFundVillagePermanentFundBondSeriesFundof1995andGlenLandSalesFundwhichareallconsideredtobemajorfundsDatafromtheothergovernmentalfundsarecombinedintoasingleaggregatedpresentationIndividualfunddataforeachofthesenonmajorgovernmentalfundsisprovidedintheformofcombiningstatementselsewhereinthisreportSeeindependentauditorsreportMDA2IIIIIIIIIIIIIIIIIII IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISMANAGEMENTSDISCUSSIONANDANALYSISContinuedProprietaryFundsTheVillagemaintainstwodifferenttypesofproprietaryfundsEnterpriseFundsareusedtoreportthesamefunctionspresentedinBusinessTypeActivitiesintheGovernmentWideFinancialStatementsInternalServiceFundsareanaccountingdeviceusedtoaccumulateandallocatecostsinternallyamongtheVillagesvariousfunctionsTheVillageusesinternalservicefundstoaccountforthevehiclerepairandmaintenanceprogramthevehicleandequipmentreplacementprogramandtoaccountforthecostofpropertyandcasualtyhealthandworkerscompensationinsuranceAsInternalServiceFundsservegovernmentalratherthanbusinesstypefunctionstheyhavebeenincludedwithGovernmentalActivitiesintheGovernmentWideFinancialStatementsProprietaryFundFinancialStatementspages1215providethesametypeofinformationastheGovernmentWideFinancialStatementsonlyinmoredetailTheWaterworksandNorthMaineWaterandSewerFundsareconsideredtobemajorfundsoftheVillageandarepresentedinseparatecolumnsintheFundFinancialStatementsTheWholesaleWaterSewerageandCommuterParkingLotFundcomprisetheVillagesnonmajorenterprisefundsTheInternalServiceFundsarecombinedinasingleaggregatepresentationintheProprietaryFundFinancialStatementsIndividualfunddataforthenonmajorenterpriseandinternalservicefundsarepresentedelsewhereinthereportFiduciaryFundsFiduciaryfundsareusedtoaccountforresourcesheldforthebenefitofpartiesoutsideofthegovernmentPolicePensionFundandFirefightersPensionFundseepages1617FiduciaryfundsarenotreflectedinthegovernmentwidefinancialstatementsbecausetheseassetsarerestrictedinpurposeanddonotrepresentdiscretionaryassetsofthegovernmentTheVillagemaintainstwotypesoffiduciaryfundspensiontrustfundsandagencyfundsNotestotheFinancialStatementsThenotesprovideadditionalinformationthatisessentialtoafullunderstandingofthedataprovidedintheGovernmentWideandFundFinancialStatementsTheNotestotheFinancialStatementscanbefoundonpages1855ofthisreportOtherInformationInadditiontothebasicfinancialstatementsandaccompanyingnotesthisreportalsopresentscertainrequiredsupplementaryinformationincludingthemajorgovernmentalfundbudgetaryschedulesanddataconcerningtheVillagesprogressinfundingitsobligationtoprovidepensionbenefitstoitsemployeesRequiredsupplementaryinformationcanbefoundonpages5665ofthisreportThecombiningstatementsandindividualfundreferredtoearlierinconnectionwithnonmajorgovernmentalenterpriseandinternalservicefundsarepresentedimmediatelyfollowingtherequiredsupplementaryinformationonpensionsCombiningandindividualfundstatementsandschedulescanbefoundonpages66through149ofthisreportSeeindependentauditorsreportMDA3 NetAssetsInvestedinCapitalAssetsNetofDebtRestrictedUnrestricted2868254775712500025600536825733571IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISMANAGEMENTSDISCUSSIONANDANALYSISContinuedInfrastructureAssetsHistoricallyagovernmentslargestgroupofassetsinfrastructureroadsbridgesstormsewersetchaveneitherbeenreportednordepreciatedingovernmentalfinancialstatementsThisnewstatementrequiresthattheseassetsbevaluedandreportedwithintheGovernmentalcolumnoftheGovernmentWideStatementsAdditionallythegovernmentmustelecttoeither1depreciatetheseassetsovertheirestimatedusefullifeor2developasystemofassetsmanagementdesignedtomaintaintheservicedeliverypotentialtonearperpetuityIfthegovernmentdevelopstheassetmanagementsystemthemodifiedapproachwhichperiodicallyatleasteverythirdyearbycategorymeasuresanddemonstratesitsmaintenanceoflocallyestablishedlevelsofservicestandardsthegovernmentmayrecorditscostofmaintenanceinlieuofdepreciationTheVillagehaschosentodepreciateassetsovertheirusefullifeIfaroadprojectisconsideredarecurringcostthatdoesnotextendtheroadsoriginalusefullifeorexpanditscapacitythecostoftheprojectwillbeexpensedAnoverlayofaroadwillbeconsideredmaintenancewhereasarebuildofaroadwillbecapitalizedGOVERNMENTWIDESTATEMENTSStatementofNetAssetsThefollowingtablereflectsthecondensedStatementofNetAssetsTable1StatementofNetAssetsAsofDecember312004and2003inmillions200420032004200320042003CurrentandOtherAssetsCaitalAssetsLongTermLiabilitiesOtherLiabilities83289851291917SeeindependentauditorsreportMDA4 IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISMANAGEMENTSDISCUSSIONANDANALYSISContinuedFormoredetailedinformationseetheStatementofNetAssetspage3NetassetsmayserveovertimeasausefulindicatorofagovernmentsfInancialpositionTheVillagesassetsexceededliabilitiesby1841millionasofDecember312004ThelargestportionoftheVillagesnetassetsisitsinvestmentincapitalassetseglandinfrastructurebuildingsmachineryandequipmentlessanyrelateddebtusedtoacquirethoseassetsthatisstilloutstandingTheVillageusesthesecapitalassetstoprovideservicestocitizensconsequentlytheseassetsarenotavailableforfuturespendingThesecondcomponentoftheVillagesnetassetsistherestrictedassetswhichrepresentresourcesheldforspecifIcpurposesOftheVillages825millionofrestrictedassets758millionisrestrictedforcapitaldevelopmentThefInalcomponentoftheVillagesnetassetsistheunrestrictedassetsintheamountof479millionwhichcanbeusedtofInancedaytodayoperationsNetassetsmayserveovertimeasausefulindicatorofagovernmentsfInancialpositionInthecaseoftheVillageofGlenviewassetsexceededliabilitiesby184108135asofDecember312004Netassetshaveincreased14391700netofpriorperiodadjustmentsfromtheprioryearwhichindicatesthattheVillagesoverallfInancialpositionhasimprovedNorIID1pactsTherearesixbasicnormaltransactionsthatwillaffectthecomparabilityoftheStatementofNetAssetssummarypresentationNetResultsofActivitieswhichwillimpactincreasedecreasecurrentassetsandunrestrictednetassetsBorrowineforCapitalwhichwillincreasecurrentassetsandlongtermdebtSpendineBorrowedProceedsonNewCapitalwhichwillreducecurrentassetsandincreasecapitalassetsThereisasecondimpactanincreaseininvestedcapitalassetsandanincreaseinrelatednetdebtwhichwillnotchangetheinvestedincapitalassetsnetofdebtSpendineofNonborrowedCurrentAssetsonNewCapitalwhichwillareducecurrentassetsandincreasecapitalassetsandbwillreduceunrestrictednetassetsandincreaseinvestedincapitalassetsnetofdebtPrincipalPavmentonDebtwhichwillareducecurrentassetsandreducelongtermdebtandbreduceunrestrictednetassetsandincreaseinvestedincapitalassetsnetofdebtReductionofCapitalAssetsthrouehDepreciationwhichwillreducecapitalassetsandinvestedincapitalassetsnetofdebtSeeindependentauditorsreportMDA5 IVILLAGEOFGLENVIEWILLINOISMANAGEMENTSDISCUSSIONANDANALYSISContinuedIChangesinNetAssetsIThefollowingchartshowstherevenueandexpensesoftheVillagesactivitiesTable2IChangesinNetAssetsFortheFiscalYearEndedDecember312004and2003inmillionsII200420032004200320042003RevenuesIProgramRevenuesChargesforServices8673161188247208OperatingGrantsandContributions130000001300ICapitalGrantsandContributions422600344233GeneralRevenuesIPropertyTaxes2051500000205150OtherTaxes796000007960IOtherRevenues2722860000272366IExpensesGeneralGovernment2031630000203163IPublicSafety1951910000195191HighwaysandStreets89793000089793IEconomicDevelopment000000000000Interest453700004537Waterworks000075627562INorthMaineWaterSewer000050505050Nonmaorenterprise000022192219ITransfers102710270000INetAssetsJanuary11283184541435016972195PriorPeriodAdjustment010036003500INetAssetsJanuary1Restated12840037800166200ISeeindependentauditorsreportIMDA6 IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISMANAGEMENTSDISCUSSIONANDANALYSISContinuedNormalImpactsThereareeightbasicimpactsonrevenuesandexpensesasreflectedbelowRevenuesEconomicConditionwhichcanreflectadecliningstableorgrowingeconomicenvironmentandhasasubstantialimpactonstateincomesalesandutilitytaxrevenueaswellaspublicspendinghabitsforbuildingpermitselectiveuserfeesandlevelsofconsumptionIncreaseillecreaseinVillageApprovedRateswhilecertaintaxratesaresetbystatutetheVillageBoardhassignificantauthoritytoimposeandperiodicallyincreasedecreaseratespropertytaxeswatersewerimpactfeesbuildingfeeshomerulesalestaxetcChangingPatternsinIntergovernmentalandGrantRevenuebothrecurringandnonrecurringcertainrecurringrevenuesStatesharedrevenuesetcmayexperiencesignificantchangesperiodicallywhilenonrecurringoronetimegrantsarelesspredictableandoftendistortingintheirimpactonyeartoyearcomparisonsMarketImpactsonInvestmentIncometheVillagesinvestmentportfolioismanagedusingasimilaraveragematuritytomostgovernmentsMarketconditionsmaycauseinvestmentincometofluctuateExpensesIntroductionofNewProgramswithinthefunctionalexpensecategoriesGeneralGovernmentPublicSafetyandStreetsandHighwaysetcindividualprogramsmaybeaddedordeletedtomeetchangingcommunityneedsChangeinAuthorizedPersonnelchangesinservicedemandmaycausetheVillageBoardtoincreasedecreaseauthorizedstaffingStaffingcostssalaryandrelatedbenefitsrepresentapproximately63oftheVillagesGeneralFundandapproximately23enterprisefundoperatingcostsSalaryIncreasesannualadjustmentsandmerittheabilitytoattractandretainhumanandintellectualresourcesrequirestheVillagetostrivetoapproachacompetitivesalaryrangepositioninthemarketplaceInflationwhileoverallinflationappearstobereasonablymodesttheVillageisamajorconsumerofcertaincommoditiessuchassuppliesfuelsandpartsSomefunctionsmayexperienceunusualcommodityspecificincreasesSeeindependentauditorsreportMDA7 VILLAGEOFGLENVIEWILLINOISMANAGEMENTSDISCUSSIONANDANALYSISContinuedCurrentYearImpactsGovernmentalActivitiesRevenues2004GovernmentalFundActivitiesRevenuebySourceOtherRevenueandTransfers31ChargesforServices29OperatingGrants2CapitalGrants5ForthefiscalyearendedDecember312004revenuestotaled859millionTheVillagebenefitsfromahighlydiversifiedrevenuebaseOtherTaxesandTransferswhichincludeStatesalesandincometaxdistributionscontinuetobethelargestrevenuesourceat283millionor31ofthetotalPropertyTaxestotaled205millionrepresenting24ofthetotalGovernmentalActivityrevenueWhiletheVillagemaintaineditspropertytaxlevyat82for2004thesameamountleviedsince2000theVillagesTIFRedevelopmentProjectgenerated123millionOtherTaxesat79iscomposedoftaxesenactedbytheVillageandincludetheutilityandtelecommunicationstaxesandtheHomeRulesalestaxThemajorcomponentoftheChargesforServicesclassificationisfeesfromtheVillageswaterutilityaswellastheNorthMaineWaterandSewerutilityandtheWholesaleWaterutilityThroughthelattertwoutilitiestheVillagesells18billiongallonsofwaterperyeartocustomersoutsideoftheVillageSeeindependentauditorsreportMDA8IIIIIIIIIIIIIIIIIII IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISMANAGEMENTSDISCUSSIONANDANALYSISContinuedExpenses2004GovernmentalFundActivitiesExpensesbySourceNorthMaineutilities7Nonmajorenterprise3GeneralGoverrnnent30Waterworks11Interest7HighwaysandStreets13EconomicDevelopment0PublicSafety29ForthefiscalyearendedDecember312004expensestotaled532millionTheGeneralGovernmentcategoryat203millionor30representsthelargestshareofthetotalandisfollowedbyPublicSafetyat195millionor29andHighwaysandStreetsat89millionor13ItshouldbenotedthattheGeneralGovernmentcategoryincludes58millioninMakeWholepaymentsmadetotheCoreJurisdictionsaffectedbytheVillagesRedevelopmentProjectForthefiscalyearendedDecember312004theGovernmentalFundsreflectcombinednetassetsof1458millionBusinessTypeActivitiesRevenuesForthefiscalyearendedDecember312004netrevenuesaftertransfersoutfromBusinessTypeActivitiestotaled152millionTheVillagesvariouswaterandsewerutilitiesgenerated161millioninChargesforServicesExpensesForthefiscalyearendedDecember312004expensesfromBusinessTypeActivitiestotaled147millionprimarilyassociatedwiththeVillagesvariousutilitysystemsForthefiscalyearendedDecember312004theBusinessTypeFundsreflectcombinednetassetsof383millionSeeindependentauditorsreportMDA9 VILLAGEOFGLENVIEWILLINOISMANAGEMENTSDISCUSSIONANDANALYSISContinuedFINANCIALANALYSISOFTHEVILLAGESFUNDSGovernmentalFundsAtDecember312004theGovernmentalFundsaspresentedonpage67reportedacombinedfundbalanceof1051milliona501increasefromthebeginningoftheyearof698millionOfthetotalfundbalance97millionisunreservedindicatingavailabilityforcontinuingVillageservicesReservedfundbalanceof954millionincludes758millionforcapitaldevelopmentand33millionfordebtserviceTheGeneralFundistheVillagesprimaryoperatingfundandthelargestsourceofdaytodayservicedeliveryThetotalfundbalanceoftheGeneralFundincreasedby15millionor83fromFiscalYear2003Revenuesincreasedby32millionor95expendituresincreasedby24millionor72fromtheprioryearProprietaryFundsAtDecember312004theProprietaryFundsaspresentedonpages1215totalnetassetsincreasedby5millionThismodestincreaseisprimarilyattributabletoarevisedservicecontractwithcustomersoftheWholesaleWaterutilityWaterworksandNorthMaineutilityrevenuesweresignificantlylessthananticipatedbutwithexpendituresalsolessthanprojectedoperatingincometotaled17millionGENERALFUNDBUDGETARYHIGHLIGHTSTable3GeneralFundBudgetaryHighlightsFortheFiscalYearEndedDecember312004inmillionsRevenuesTaxesIntergovernmentalOther1191714711917147ExpensesExpendituresTransfersOutTransfersIn36300053630005SeeindependentauditorsreportMDA1013418546IIIIIIIIIIIIIIIIIII3550005 IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISMANAGEMENTSDISCUSSIONANDANALYSISContinuedThefollowingrevenuesperformedverywellinthefiscalyear2003108o108200411611127Change081119MunicipalSalesTaxHomeRuleSalesTaxTheGeneralFundbudgetwasnotamendedduringthefiscalyearGeneralFundactualrevenueswere28milliongreaterthantheoriginalandfinalbudgetamountThemostsignificantcausesofthiswerethestrengthinsaletaxrevenueswheretheMunicipalTaxandHomeRuleSalesTaxbothexceededprojectionsExpenditurestotaled978ofbudgetTheSpecialTaxAllocationFundalsoamajorgovernmentalfundreceived123millioninpropertytaxincrementasdevelopedparcelswithintheVillagesRedevelopmentProjectareawereaddedtothetaxrolesItisexpectedthattheincrementalrevenuewillincreaseto20to25millionoverthenext3to5yearsTheserevenuesareusedtopaythedevelopmentcostsassociatedwiththeVillagesRedevelopmentProjectaswellasdebtserviceandMakeWholePaymentstotheCoreJurisdictionsaffectedbytheVillagesRedevelopmentProjectCAPITALASSETSThefollowingschedulereflectstheVillagescapitalassetbalancesasofDecember312004Table4CapitalAssetsAsofDecember312004and2003inmillions200420032004200320042003LandandLandRightofWay605545303608548BuildingsandImprovements1021020404106106MachineryandEquipment918700009187Infrastructure10651061000010651061WaterSystem0000366366366366SeeindependentauditorsreportMDAll DEBTOUTSTANDINGIIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISMANAGEMENTSDISCUSSIONANDANALYSISContinuedSewerSystem000097979797EquipmentandVehicles000029292929ConstructioninProgress200400100021400LessAccumulatedDepreciation496460163152659612AtyearendtheVillagesinvestmentincapitalassetsforbothitsGovernmentalandBusinessTypeActivitieswas1917millionanincreaseof140fromDecember312003TheDecember312004totalincludes214ofConstructioninProgresswhichisrelatedtotheconstructionofanewPoliceHeadquartersbuildingDetailedinformationregardingthechangeincapitalassetsforGovernmentalandBusinessTypeActivitiesisincludedintheNotestotheFinancialStatementsonpages30and32InFiscalYear2004theVillageissuedtwoseriesofbondsaggregating473millionThe250million2004AGeneralObligationBondswereissuedtoprovidefundsforinfrastructureimprovementsinconnectionwiththeVillageTIFRedevelopmentProjectItisanticipatedthatthedebtserviceassociatedwiththeSeries2004ABondswillbeannuallyabatedwiththepropertytaxincrementgeneratedfromtheProjectareaThe223million2004BGeneralObligationBondswereissuedtoprovidefundingforconstructionofanewPoliceHeadquartersbuildingItisanticipatedthatthedebtserviceassociatedwiththeSeries2004BBondswillbepaidthroughthepropertytaxlevyTheVillagecurrentlyhastengeneralobligationbondseriesandonenoteserieswhichwereusedtoacquiretheNorthMaineutilitysystemoutstandingTotalgeneralobligationdebtis1361millionofwhich1284millionissupportedbyvarioustaxlevieswiththebalanceabatedfromwatersystemrevenuesOftheVillagetotalgeneralobligationdebt998millionisassociatedwiththeVillagesTIFRedevelopmentProjectThedebtserviceassociatedwiththeProjectisannuallyabatedwiththepropertytaxincrementgeneratedfromtheProjectareaThetaxincrementfInancingbondshavebeenissuedforinfrastructureimprovementsintheProjectareaknownasTheGlenTheissuanceofthesebondsdidnotproduceafIxedassetfortheVillagethereforetheunrestrictednetassetsforGovernmentalActivitieshavebeenreducedbytheamountofthesebondsTheVillageunderitshomeruleauthoritydoesnothavealegaldebtlimitDuringFiscalYear2004theVillagesAaabondratingwasreaffirmedbyMoodysInvestorsServicecitingtheVillageswellmanagedfInancialoperationsmoderatedirectdebtburdenandaggressiveretirementofitsgeneralobligationbondsSeeindependentauditorsreportMDA12 IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISMANAGEMENTSDISCUSSIONANDANALYSISContinuedAdditionalinformationoftheVillageslongtermdebtcanbefoundintheNotestotheFinancialStatementsonpages3540ECONOMICFACTORSANDNEXTYEARSBUDGETTheVillagescompositionisprimarilyresidentialbutwithasignificantcommercialcomponentThepropertytaxrevenuederivedfromtheresidentialcommercialandindustrialpropertieshasbeenheldconstantat82millionStatesharedrevenueswhicharedistributedonapercapitabasisincludingincomeandusetaxeshavebeennegativelyaffectedbythegeneraldownturnintheStatesgeneraleconomyDuring2005theVillagewillhaveaSpecialCensusconductedintheRedevelopmentProjectareaTheadditionalresidentswillgenerateadditionalpercapitarevenuefromtheStateAsshortterminterestratesincreaseinvestmentincomemaybepositivelyimpactedSalestaxrevenueshoweverincreasedduringtheyearduetocommercialdevelopmentthroughouttheVillageThecommercialcomponentincludessoftgoodsrestaurantsandotherfoodandretailbusinessesTheFiscalYear2005budgetmaintainstheVillagespropertytaxlevyconstantat82millionBuildingpermitrevenuesandplanningandinspectionsfeesareexpectedtoremainstrongasredevelopmentthroughouttheVillagecontinuesSalestaxrevenueisexpectedtoremainstrongasadditionalretailerscomeonlineInadditiontheVillagesonehalfofonepercentHomeRuleSalesTaxHRSTwhichwentintoeffectinJuly2004hasgeneratedsignificantnewrevenueFor20051millionoftheHRSThasbeendesignatedforcapitalinvestmentwhile2millionhasbeendesignatedforoperationswithintheVillagesGeneralFundBudgetedexpendituresincludeincreasesduetosalaryadjustmentsandhealthandliabilityinsurancecostsPensioncostsareexpectedtoincreaseduetothegeneralweakinvestmentclimateandincreasesinbenefitsapprovedbytheStateofIllinoisCONTACTINGTHEVILLAGESFINANCIALMANAGEMENTThismancialreportisdesignedtoprovideourcitizenscustomersinvestorsandcreditorswithageneraloverviewoftheVillagesfinancesandtodemonstratetheVillagesaccountabilityforthemoneyitreceivesQuestionsconcerningthisreportorrequestsforadditionalmancialinformationshouldbedirectedtoDanielPWiersmaDirectorofFinanceVillageofGlenview1225WaukeganRoadGlenviewIllinois60025SeeindependentauditorsreportMDA13 IVILLAGEOFGLENVIEWILLINOISISTATEMENTOFNETASSETSDecember312004IComponentPrimaryGovernmentUnitIGovernmentalBusinessTypeGlenviewActivitiesActivitiesTotalPublicLibraryASSETSICashandinvestments120670808107936231314644312114602ReceivablesnetofallowancewhereapplicablePropertytaxes79642467964246484280IIOthertaxes53354475335447Utilitycustomers27888772788877Notes150500150500Interest89698969IMiscellaneous16918081691808Deposits18952851895285InventoriesIII25287195198447Duefromothergovernments988740988740IDuefromtootherfunds14585491458549Duefromfiduciaryfunds21662166Duefromcomponentunit2365523655Advancetafromotherfunds26592892659289Deferredcharges5880958809IPrepaiditems184400184400Otherassets19001900Netpensionasset389121389121Capitalassetsnotbeingdepreciated80924930130285182227781500000ICapitalassetsnetofaccumulateddepreciation76175365332461991094215642254949Totalassets295315952494801943447961469712352ILIABILITIESOverdraftliability14341I143411Accountspayable51981538346906032843126936IAccruedpayroll1073992225712965640700Accruedinterestpayable5ll27157626568897Compensatedabsencespayable8805888058Claimspayable167669167669IOtherpayables10069741006974Deferredpropertytaxes79642467964246484280IOtherunearnedrevenue4177196900001107719DuetoFiduciaryFunds17501750Duetoprimarygovernment23655IRefundabledeposits430535230004308352NoncurrentliabilitiesDuewithinoneyear938942764480710034234Dueinmorethanoneyear120266964886723812913420287273ITotalliabilities1494803351l2076761606880115121365NETASSETSIInvestedincapitalassetsnetofrelateddebt2858716125037005536241662667676RestrictedforStreetimprovements25896982589698Debtservice32934883293488IEmployeebenefits201060201060Publicsarety674732674732Capitaldevelopment7579607675796076Cultureandrecreation1923311IUnrestricted346934021323551347928915TOTALNETASSETS145835617382725181841081354590987ISeeaccompanyingnotestofinancialstatements3 VILLAGEOFGLENVIEWILLINOISISTATEMENTOFACTIVITIESIFortheYearEndedDecember3I2004IProgramRevenuesChargesOperatingCapitalFUNCTIONSPROGRAMSExpensesforServicesGrantsGrantsPRIMARYGOVERNMENTGovernmentalactivitiesGeneralgovernment203379994838852765503241924Publicsafety19521633375163952310Highwaysandstreets891614055461194311946277Economicdevelopment23571Interest4446952Totalgovernmentalactivities53246295859603713231714188201BusinesstypeactivitiesWaterworks75142857446294NorthMaineWaterandSewer50210425532457NonmajorenterpriseWholesalewater9352421655339Sewerage9217361054923Commuterparking335308374653Totalbusinesstypeactivities1472761316063666TOTALPRIMARYGOVERNMENT679739082465970313231714188201COMPONENTUNITGleviewPublicLibrary473578314004156638IIIIIIIIIIIIIII4I IIIINetExpenseRevenueandChangeinNetAssetsPrimaryGovernmentGlenviewPublicLibraryGovernmentalBusinessTypeComponentIActivitiesActivitiesTotalUnit1218067312180673I1571768415717684677000667700062357123571I444695244469523913888639138886I6799167991511415511415I7200977200971331871331873934539345I1336053133605339138886133605337802833I4539104IGeneralrevenuesTaxesPropertyandreplacement20500281205002814582858IOther86534386534329000Salestax1358887713588877Incometax26594832659483Intergovernmental63855436385543303913IInvestmentincome109376497800119156445980Miscellaneous163709316370939154Gainonsaleofcapitalassets28293672829367Transfers958460958460IContributions60885736088573Total56606784860660557461244970905ICHANGEINNETASSETS1746789847539317943291431801NETASSETSJANUARYI128288386414280491697164354159186IPriorperiodadjustment7933336309243551591INETASSETSJANUARY1RESTATED128367719377971251661648444159186NETASSETSDECEMBER31145835617382725181841081354590987ISeeaccompanyingnotestofinancialstatements5 VILLAGEOFGLENVIEWILLINOISBALANCESHEETGOVERNMENTALFUNDSDecember312004SpecialGNASGlen2004PoliceTaxVillageBondFundLandGlenDepartmentNonmajorGeneralAllocationPermanentSeries1995SalesBondHeadquartersGovernmentalTotalASSETSCash297780510311111505423662101633547921916223394447614853Investments927130726928501183996421969020181197572136769899496247ReceivablesPropertytaxes577669821875487964246Utilitytaxes10831051083105Incometaxes181277181277Salestaxes40710654071065Interest89698969Other5773749462771499931673644Notereceivable150500150500Prepaiditems308601935050210Duefromothergovernments535012453728988740Duefromotherfunds2940605381504482454771681910034484356835DuefromFiduciaryFunds21662166Duefromcomponentunit2365523655Deposits478302478302Advancetootherfunds1275270512752705TOTALASSETS2762142910314940831748110038731107452197381218175088279801611408965196 SpecialGNASGlen2004PoliceTaxVillageBondFundLandGlenDepartmentNonmajorGeneralAllocationPermanentSeries1995SalesBondHeadquartersGovernmentalTotalLIABILITIESANDFUNDBALANCESLIABILITIESOverdraftliability143411143411Accountspayable6229751566621128312738382312320355088581Accruedpayroll1033202519105839Accruedinterest227392326446003Refundabledeposits2719842781544305352Otherpayables100186065241008384Duetootherfunds7808271980024249715013359262379200DuetoFiduciaryFunds17501750Advancetootherfunds12752705161410914366814Deferredrevenues1505059000027750149464417719Deferredpropertytaxes577669821875487964246Totalliabilities846513322739198001899118140635823839731097295435827299FUNDBALANCESReservedforstreetimprovements25896982589698Reservedforprepaids308601935050210Reservedforadvancefromotherfunds1275270512752705Reservedfordebtservice32934883293488Reservedforemployeebenefits201060201060Reservedforpublicsafety674732674732Rcservedforcapitaldevelopment280592432197381217771765799125675796076UnreservedUndesignatedforGeneralFund1912543619125436UndesignatedforSpecialRevenueFund8041024284422508852UndesignatedforDebtServiceFund5145051450UndesignateddeficitforCapitalProjectsFund7987311095283712001911871587Totalfundbalancesdeficit19156296804104081194879873110952837219738121779111517007207105069220TOTALLIABILITIESANDFUNDBALANCES276214291031494083174811003873110745219738121817508827980161140896519Seeaccompanyingnotestofinancialstatements7 Theunamortizedbonddiscountandunamortizedbondissuancecostisnotacurrentfinancialresourceandisthereforenotreportedinthegovernmentalfunds152638IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISRECONCILIATIONOFFUNDBALANCESOFGOVERNMENTALFUNDSTOTHEGOVERNMENTALACTIVITIESINTHESTATEMENTOFNETASSETSDecember312004FUNDBALANCESOFGOVERNMENTALFUNDS105069220AmountsreportedforgovernmentalactivitiesinthestatementofnetassetsaredifferentbecauseCapitalassetsusedingovernmentalactivitiesarenotfinancialresourcesandthereforearenotreportedinthegovernmentalfundslessInternalServiceFund15710029527979Thenetpensionassetisnotacurrentfmancialresourceandisthereforenotreportedinthegovernmentalfunds389121Interestpayableisnotdueandpayableinthecurrentperiodandthereforenotreportedinthegovernmentalfunds465268Longtermliabilitiesincludingbondspayablearenotdueandpayableinthecurrentperiodandthereforearenotreportedinthegovernmentalfunds129809029Theunrestrictednetassetsoftheinternalservicefundsareincludedinthegovernmentalactivitiesinthestatementofnetassets13426619NETASSETSOFGOVERNMENTALACTIVITIES145835617Seeaccompanyingnotestofinancialstatements8 IIIItIThispageisintentionallyleftblankIIiIIIIIIIIIif VILLAGEOFGLENVIEWILLINOISSTATEMENTOFREVENUESEXPENDITURESANDCHANGESINFUNDBALANCESGOVERNMENTALFUNDSFortheYearEndedDecember312004SpecialGNASGlen2004PoliceTaxVillageBondFundLandGlenDepartmentNonmajorGeneralAllocationPermanentSeries1995SalesBondHeadquartersGovernmentalTotalREVENUESTaxes1337276412287250242733128087345Intergovernmental185430643957471285226025352795Chargesforservices148999416945193184513Licensesandpermits21288262128826Finesandforfeitures249956249956Investmentincome1459921015610620832102512521214361006313212511814903MiscellaneousLandsales28934602893460Other571396301684282135460741306Totalrevenues3650I99212297406106208339897412948994121436100631743082164453104EXPENDITURESCurrentGeneralgovernment92733325802009561548120690822Publicsafety1889511354449219439605Highwaysandstreets73804277380427DebtservicePrincipal295000018127004762700Interestandfiscalcharges348471672185197288813556010024986212Capitaloutlay127078275351321609976513551819988453Totalexpenditures35548872122367251270782712569839728816913311370919377248219EXCESSDEFICIENCYOFREVENUESOVEREXPENDITURES953120606811062083871808616920112414815907006278372127951159 SpecialGNASGlen2004PoliceTaxVillageBondFundLandGlenDepartmentNonmajorAllocationPermanentSeries1995SalesBondHeadquartersGovernmentalTotalGeneralOTHERFINANCINGSOURCESUSESBondissuedDiscountonbondsissuedPremiumonbondsissuedSaleofcapitalassetsTransfersinTransfersout25000506602250000001954653927684614731500016472416472465614656141280137801606946257924810207715639366123756688632667966359273115950671967222798228Totalotherfinancingsourcesuses5316022572175792481020771566359272194966419381815245525148212151NETCHANGEINFUNDBALANCES14847221965361641331148962949439162197381217791115382312135417036FUNDBALANCESDEFICITJANUARY11787381227694638321893251336049351972078716469811258Priorperiodadjustment202238848724225000107372443164159074FUNDBALANCESDEFICITJANUARYIRESTATED1767157427694639170617228836060089212083032869652184FUNDBALANCESDEFICITDECEMBER3119156296804104081194879873110952837219738121779111517007207105069220Seeaccompanyingnotestofinancialstatements10 IVILLAGEOFGLENVIEWILLINOISSTATEMENTOFREVENUESEXPENSESANDCHANGESINNETASSETSPROPRIETARYFUNDSFortheYearEndedDecember312004IBusinessTypeActivitiesGovernmentalINorthMaineActivitiesWaterandNonmajorInternaltWaterworksSewerEnterpriseTotalServiceOPERATINGREVENUESChargesforservicesIWaterandsewercharges68836915482256266031215026259Waterandsewerconnectioncharges20859020030228620Parkingdecalsandmeterfees125294532364553490379Latepaymentfees897344550629920165160IInternalservices8519600Miscellaneous138985416310100153248127649Totaloperatingrevenues744629455324573084915160636668647249IOPERATINGEXPENSESAdministration8374307163536131442166927Operations596107137121101309279109824608081995IDepreciationandamortization71578426119322784312048207994Totaloperatingexpenses751428546896562150266143542078089989IOPERATINGINCOME679918428019346491709459557260NONOPERATINGREVENUESEXPENSESIInvestmentincome60280163042121697800500093Interestandfiscalcharges33138642020373406Totalnonoperatingrevenuesexpenses6028031508220804275606500093NETINCOMELOSSBEFORETRANSFERSANDCONTRIBUTIONS771152771991384514338531057353TRANSFERSINOUTITransfersout99194544500314766958460Totaltransfersinout991945445003147669584601CHANGEINNETASSETS106905167815990794753931057353NETASSETSJANUARYI30780983105736095897064142804912043512IPriorperiodadjustment180081914051054250003630924325754NETASSETSDEFICITJANUARYIRESTATED2898016434774591647063779712512369266INETASSETSDEFICITDECEMBER312887325936452697637853827251813426619IISeeaccompanyingnotestofinancialstatementsI13 III1IIThispageisintentionallyleftblankIIIIIIIIIIII IVILLAGEOFGLENVIEWILLINOISSTATEMENTOFCASHFLOWSIPROPRIETARYFUNDSFortheYearEndedDecember312004IBusinessTypeActivitiesGovernmentalINorthMaineActivitiesWaterandNomnajorInternalWaterworksSewerEnterpriseTotalServiceICASHFLOWSFROMOPERATINGACTIVITIESReceiptsfromcustomersandusers716632761831063570399169198326753Receiptsfrominterfundservices4801954801958020376IPaymentstosuppliers546373387223516522710670825727945Paymentstoemployees8423125517782668301660920412838Netcashfromoperatingactivities1177642175909321315475068282334876ICASHFLOWSFROMNONCAPITALFINANCINGACTMTIESInterfundtransfersout99194544500314766958460Netcashfromnoncapitalfinancingactivities99194544500314766958460CASHFLOWSFROMCAPITALANDRELATEDIFINANCINGACTIVITIESPrincipalpayments416839180000596839Interestandfiscalcharges3304485064338091INetcashfromcapitalandrelatedfinancingactivities747287230643977930CASHFLOWSFROMINVESTINGACTIVITIESIInterestreceived60280163042121397797500091Saleofinvestments592287592287100000Purchasesofinvestments81832030I5491900002309869881632IPurchaseofcapitalassets10000001000000Netcashfrominvestingactivities75804028524515765002619785281541INETINCREASEINCASHANDCASHEQUIVALENTS320408182061963851210753335CASHANDCASHEQUIVALENTSJANUARYI60169437061289442218667281001176ICASHANDCASHEQUIVALENTSDECEMBER3192210255267390406023788351054511IIIIThisstatementiscontinuedonthefollowingpageI14 IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISSTATEMENTOFCASHFLOWSContinuedPROPRIETARYFUNDSFortheYearEndedDecember312004BusinessTypeActivitiesGovernmentalNorthMaineActivitiesWaterandNonmajorInternalWaterworksSewerEnterpriseTotalServiceRECONCILIATIONOFOPERATINGINCOMETONETCASHFLOWSFROMOPERATINGACTIVITIESOperatingincome679918428019346491709459557260AdjustmentstoreconcileoperatingincometonetcashfromoperatingactivitiesDepreciationandamortization71578426119322784312048207994ChangesincurrentassetsandliabilitiesAccountsreceivable3055265064920709347410810520Duefromotherfunds318749231874733866Inventory2159321593111252Prepaidexpenses134190Otherassets298235824988072Accountspayable6793610243429212637106018Accruedpayroll240555715710226624Compensatedabsencespayable15739475520494Claimspayable128358Deferredrevenues67470167470181447Deposits4491359288363779330291Otherpayables6646645154Duetootherfunds7597054646924781181702515353978NETCASHFROMOPERATINGACTIVITIES1177642175909321315475068282334876Seeaccompanyingnotestofinancialstatements15 VILLAGEOFGLENVIEWILLINOISIIIIIIIIIJIIIIIIIIISTATEMENTOFFIDUCIARYNETASSETSFIDUCIARYFUNDSDecember312004PensionTrustAgencyASSETSCashandcashequivalentsInvestmentsUSGovernmentandagencyobligationsMutualfundsInsurancecontractsReceivablesPropertytaxesDuefromotherfundsTotalassetsLIABILITIESAccountspayableDuetootherfundsDuetobondholdersTotalliabilities1041260391886697420013461381994711133508175082473302172696450021661726966666172696NETASSETSHELDINTRUSTFORPENSIONBENEFITS82466636Seeaccompanyingnotestofinancialstatements16 1VILLAGEOFGLENVIEWILLINOIS1STATEMENTOFCHANGESINFIDUCIARYNETASSETSPENSIONTRUSTFUNDSIFortheYearEndedDecember312004IIADDITIONSContributionsemployer1474948Contributionsplanmembers1059790IContributionsmiscellaneous100ITotalcontributions2534838InvestmentincomerNetappreciationinfairvalueofinvestments60517Interestearnedoninvestments4058706rTotalinvestmentincome4119223rLessinvestmentexpense51592Netinvestmentincome4067631rTotaladditions6602469rDEDUCTIONSPensionsandrefunds3520024Totaldeductions3520024NETINCREASE3082445NETASSETSHELDINTRUSTFORPENSIONBENEFITSJanuaryI79384191December3182466636IOfISeeaccompanyingnotestofinancialstatements17 VILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued1SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESContinuedaReportingEntityContinuedFirefightersPensionEmployeesRetirementSystemTheVillagesfirefightersparticipateintheFirefightersPensionEmployeesRetirementSystemFPERSFPERSfunctionsforthebenefitoftheseemployeesandisgovernedbyaninememberpensionboardconsistingoftheVillagesPresidentTreasurerClerkAttorneyandFireChiefoneelectedpensionbeneficiaryandthreeelectedfireemployeesTheVillageandFPERSparticipantsareobligatedtofundallFPERScostsbaseduponactuarialvaluationsTheStateofIllinoisisauthorizedtoestablishbenefitlevelsandtheVillageisauthorizedtoapprovetheactuarialassumptionsusedinthedeterminationofcontributionlevelsAlthoughitpossessesmanyofthecharacteristicsofalegallyseparategovernmenttheFPERSisreportedasifitwerepartoftheprimarygovernmentbecauseitssolepurposeistofinanceandadministerthepensionsoftheVillagesfirefightersandbecauseofthefiduciarynatureofsuchactivitiesTheFPERSisreportedasapensiontrustfundDiscretelyPresentedComponentUnitVillageofGlenviewPublicLibrarytheLibraryTheLibraryhasaseparatelyelectedsevenmemberboardwhichannuallydeterminesitsbudgetandresultingtaxlevyUponapprovaloftheVillagethelevyissubmittedtotheCountyAlldebtoftheLibraryissecuredbythefullfaithandcreditoftheVillagewhichiswhollyliableforthedebtBecausetheLibrarypossessesthecharacteristicsofalegallyseparategovernmentanddoesnotservicetheprimarygovernmenttheLibraryisbeingreportedasadiscretepresentationSeparatefinancialstatementsaredisclosedinthecomponentunitportionofthisreporttheLibrarydoesnotissueseparatefinancialstatementsbFundAccountingTheVillageusesfundstoreportonitsfinancialpositionresultsofitsoperationsandcashflowsFundaccountingisdesignedtodemonstratelegalcomplianceandtoaidfinancialmanagementbysegregatingtransactionsrelatedtocertaingovernmentfunctionsoractivitiesFundsareclassifiedintothefollowingcategoriesgovernmentalproprietaryandfiduciaryEachcategoryinturnisdividedintoseparatefundtypes19JJIIIIIllLjJJ IIIIIIIIIIIII1IIIIIVILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued1SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESContinuedbFundAccountingContinuedGovernmentalfundsareusedtoaccountforallormostofagovernmentsgeneralactivitiesincludingthecollectionanddisbursementofearmarkedmoniesspecialrevenuefundstheacquisitionorconstructionofcapitalassetscapitalprojectsfundsandtheservicingofgenerallongtermdebtdebtservicefundsThegeneralfundisusedtoaccountforallactivitiesofthegeneralgovernmentnotaccountedforinsomeotherfundProprietaryfundsareusedtoaccountforactivitiessimilartothosefoundintheprivatesectorwherethedeterminationofnetincomeisnecessaryorusefultosoundfinancialadministrationGoodsorservicesfromsuchactivitiescanbeprovidedeithertooutsidepartiesenterprisefundsortootherdepartmentsoragenciesprimarilywithintheVillageinternalservicefundsFiduciaryfundsareusedtoaccountforassetsheldonbehalfofoutsidepartiesincludingothergovernmentsoronbehalfofotherfundswithintheVillageWhentheseassetsareheldunderthetermsofaformaltrustagreementapensiontrustfundisusedAgencyfundsgenerallyareusedtoaccountforassetsthattheVillageholdsonbehalfofothersastheiragentcGovernmentWideandFundFinancialStatementsThegovernmentwidefinancialstatementsiethestatementofnetassetsandthestatementofactivitiesreportinformationonallofthenonfiduciaryactivitiesoftheVillageTheeffectofmaterialinterfundactivityhasbeeneliminatedfromthesestatementsGovernmentalactivitieswhichnormallyaresupportedbytaxesandintergovernmentalrevenuesarereportedseparatelyfrombusinesstypeactivitieswhichrelytoasignificantextentonfeesandchargesforsupportThestatementofactivitiesdemonstratesthedegreetowhichthedirectexpensesofagivenfunctionsegmentorprogramareoffsetbyprogramrevenuesDirectexpensesarethosethatareclearlyidentifiablewithaspecificfunctionorsegmentProgramrevenuesincludeIchargestocustomersorapplicantswhopurchaseuseordirectlybenefitfromgoodsservicesorprivilegesprovidedbyagivenfunctionorsegmentand2grantsandstandardrevenuesthatarerestrictedtomeetingtheoperationalorcapitalrequirementsofaparticularfunctionorsegmentTaxesandotheritemsnotproperlyincludedamongprogramrevenuesarereportedinsteadasgeneralrevenues20 21IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued1SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESContinuedcGovernmentWideandFundFinancialStatementsContinuedSeparatefinancialstatementsareprovidedforgovernmentalfundsproprietaryfundsandfiduciaryfundseventhoughthelatterareexcludedfromthegovernmentwidefinancialstatementsMajorindividualgovernmentalfundsandmajorindividualenterprisefundsarereportedasseparatecolumnsinthefundfinancialstatementsTheVillagereportsthefollowingmajorgovernmentalfundsTheGeneralFundalsoreferredtoastheCorporateFundistheVillagesprimaryoperatingfundItaccountsforallfinancialresourcesofthegeneralgovernmentexceptthoserequiredtobeaccountedforinanotherfundSpecialTaxAllocationFundaSpecialRevenueFundaccountsfortheincrementalpropertytaxrevenuethatisgeneratedthroughthegrowthoftheassessedvaluationatTheGlenformerlyreferredtoasG1enviewNavalAirStationTheVillagePermanentFundaCapitalProjectsFundisusedtoaccumulate20ofthelandsalesproceedsofTheGlenforvillagewideimprovementsaswellasshorttermliquiditytotheVillagesTIFprojectsencompassingTheGlenTheGNASBondFundSeries1995FundaCapitalProjectsFundisusedtoaccountforvariousdevelopmentandotherprojectsrelatedtoTheGlenTheGlenLandSalesFundaCapitalProjectsFundaccountsforlandsalesrelatedtoTheGlenThe2004GlenBondFundaCapitalProjectsFundaccountsforthe25000000bondissuedtocompletethecapitalimprovementsatTheGlenThePoliceDepartmentHeadquartersFundaCapitalProjectsFundaccountsfortheconstructionofanewpolicedepartmentheadquarters IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued1SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESContinuedcGovernmentWideandFundFinancialStatementsContinuedTheVillagereportsthefollowingmajorproprietaryfundsTheWaterworksFundaccountsfortheprovisionofwaterservicetotheresidentsofGlenviewAllactivitynecessarytoprovidesuchservicesisaccountedforinthisfundincludingbutnotlimitedtoadministrationDirectorofPublicWorksoperationmaintenancefinancingandrelateddebtserviceandbillingandcollectionTheNorthMaineWaterandSewerFundaccountsforallfinancialactivityrelatedtotheVillageprovidingwaterandsewerservicetoanunincorporatedareasouthwestoftheVillageThisareawasformerlyservedbytheNorthSuburbanPublicUtilitiesCompanydMeasurementFocusBasisofAccountingandFinancialStatementPresentationThegovernmentwidefinancialstatementsarereportedusingtheeconomicresourcesmeasurementfocusandtheaccrualbasisofaccountingasaretheproprietaryfundandfiduciaryfundfinancialstatementsRevenuesandadditionsarerecordedwhenearnedandexpensesanddeductionsarerecordedwhenaliabilityisincurredPropertytaxesarerecognizedasrevenuesintheyearforwhichtheyareleviedieintendedtomanceGrantsandsimilaritemsarerecognizedasrevenueassoonasalleligibilityrequirementsimposedbytheproviderhavebeenmetOperatingrevenuesexpensesincludeallrevenuesexpensesdirectlyrelatedtoprovidingenterprisefundservicesIncidentalrevenuesexpensesarereportedasnonoperatingGovernmentalfundfinancialstatementsarereportedusingthecurrentfinancialresourcesmeasurementfocusWiththismeasurementfocusonlycurrentassetsandcurrentliabilitiesgenerallyareincludedonthebalancesheetOperatingstatementsofthesefundspresentincreasesierevenuesandotherfinancingsourcesanddecreasesieexpendituresandotherfinancingusesinnetcurrentassetsAllproprietaryfundspensiontrustfundsandagencyfundsareaccountedforonaflowofeconomicresourcesmeasurementfocusWiththismeasurementfocusallassetsandallliabilitiesassociatedwiththeoperationofthesefundsareincludedonthebalancesheetProprietaryfundtypeoperatingstatementspresentincreasesierevenuesanddecreasesieexpensesinnettotalassets22 IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued1SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESContinuedJCapitalAssetsContinuedAssetsYearsBuildingsimprovementsandinfrastructureMachineryandequipment2580510InterestiscapitalizedonproprietaryfundassetsacquiredwithtaxexemptdebtTheamountofinteresttobecapitalizediscalculatedbyoffsettinginterestexpenseincurredfromthedateoftheborrowinguntilcompletionoftheprojectwithinterestearnedoninvestedproceedsoverthesameperiodkCompensatedAbsencesTheVillageaccruesaliabilityforvacationbenefitsasthesebenefitsareearnedAtDecember312004theliabilitiesfortheseaccumulatedunpaidbenefitsareaccountedforintheEnterpriseFundsatalllevelsandinthegoverrunentalactivitiescolumninthegoverrunentwidefinancialstatementsInthegoverrunentalfundfinancialstatementsaliabilityhasbeenaccruedforamountsowedtoemployeeswhohaveretiredorterminatedemploymentbytheendoftheyear1LongTermObligationsInthegoverrunentwidefinancialstatementsandproprietaryfundtypesinthefundfinancialstatementslongtermdebtandotherlongtermobligationsarereportedasliabilitiesintheapplicablegovernmentalactivitiesbusinesstypeactivitiesorproprietaryfundtypefinancialstatementsBondpremiumsanddiscountsaswellasissuancecostsaredeferredandamortizedoverthelifeofthebondsBondspayablearereportednetoftheapplicablebondpremiumordiscountBondissuancecostsarereportedasdeferredchargesandamortizedoverthetermoftherelateddebtInthefundfinancialstatementsgoverrunentalfundtypesrecognizebondpremiumsanddiscountsaswellasbondissuancecostsduringthecurrentperiodThefaceamountofdebtissuedisreportedasotherfinancingsourcesPremiumsreceivedondebtissuancesarereportedasotherfinancingsourceswhilediscountsondebtissuancesarereportedasotherfinancingusesIssuancecostswhetherornotwithheldfromtheactualdebtproceedsreceivedarereportedasdebtserviceexpenditures25 IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued1SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESContinuedmEquityInthefundmancialstatementsgovernmentalfundsreportreservationsoffundbalanceforamountsthatarenotavailableforappropriationorarelegallyrestrictedbyoutsidepartiesforuseforaspecificpurposeDesignationsoffundbalancerepresenttentativemanagementplansthataresubjecttochangeInthegovernmentwidefinancialstatementsrestrictednetassetsarelegallyrestrictedbyoutsidepartiesforaspecificpurposeInvestedincapitalassetsnetofrelateddebtisthebookvalueofcapitalassetslessanylongtermdebtoutstandingthatwasissuedtoconstructoracquirethecapitalassetsnGlenDevelopmentFeesGlendevelopmentfeesof5259075arecurrentlyreservedforcapitaldevelopmentandwillbeusedtosupplementbondproceedsfortheconstructionofthepoliceheadquartersandotherprojectsoInterfundTransactionsInterfundservicestransactionsareaccountedforasrevenuesexpendituresorexpensesTransactionsthatconstitutereimbursementstoafundforexpendituresexpensesinitiallymadefromitthatareproperlyapplicabletoanotherfundarerecordedasexpendituresexpensesinthereimbursingfundandasreductionsofexpendituresexpensesinthefundthatisreimbursedAllotherinterfundtransactionsexceptinterfundservicestransactionsandreimbursementsarereportedastransfersAdvancesbetweenfundsifanyareoffsetbyafundbalancereserveaccountinapplicablegovernmentalfundstoindicatetheyarenotavailableforappropriationandarenotexpendableavailablefinancialresourcespOperatingandNonoperatingRevenuesandExpensesProprietaryoperatingrevenuesandexpensesarerevenuesandexpensesearnedonthesaleofgoodsorservicesbytheProprietaryFundNonoperatingrevenuesandexpensesareanyotherrevenuenotattributabletothesaleofgoodsorservicesqGASBPronouncementsTheVillagehaselectedundertheprovisionsofGASBStatement20titledAccountingandFinancialReportingforProprietaryFundsandOtherGovernmentalEntitiesThatUseProprietaryFundAccountingtoapplyallapplicableGASBpronouncementsandallFASBStatementsandInterpretationsAccountingPrinciplesBoardAPBOpinionsandAccountingResearchBulletinsARBissuedonorbeforeNovember301989unlesstheyconflictwithorcontradictGASBpronouncements26 DeficitBalanceIIIIIIIIIIIIIIIIIIIVilLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued2LEGALCOMPLIANCEANDACCOUNTABILITYDeficitFundBa1ancesNetAssetsofIndividualFundsThefollowingfundshadadeficitinfundbalancenetassetsasofthedateofthisreportFundGNASRedevelopmentGNASCaretakerCorporatePurposeBondSeriesof2000CorporatePurposeBondSeriesof2003GNASBondFundSeries1995GlenLandSalesBondFundSeriesof1993NorthMaineWaterandSewer7107463447426347187798731109528371200193645263CASHANDINVESTMENTSTheVillagemaintainsacashandinvestmentpoolthatisavailableforusebyallfundsexceptthepensiontrustfundsEachfundtypesportionofthispoolisdisplayedonthecombinedbalancesheetascashandinvestmentsInadditioninvestmentsareseparatelyheldbyseveraloftheVillagesfundsThedepositsandinvestmentsofthepensiontrustfundsareheldseparatelyfromthoseofotherfundsCashonhandof6850fortheprimarygovernmentandcashonhandof1300forthecomponentunithasbeenexcludedfromtheamountsshownbelowPermittedDepositsandInvestmentsStatutesauthorizetheVillagetomakedepositsinvestininsuredcommercialbankssavingsandloaninstitutionsobligationsoftheUSTreasuryandUSAgenciesinsuredcreditunionsharesmoneymarketmutualfundswithportfoliosofsecuritiesissuedorguaranteedbytheUnitedStatesoragreementstorepurchasethesesameobligationsrepurchaseagreementsshorttermcommercialpaperratedwithinthethreehighestclassificationsbyatleasttwostandardratingservicesandtheTIlinoisFundsPensionfundsmayalsoinvestincertainnonUSobligationsTIlinoismunicipalcorporationstaxanticipationwarrantsveteransloansobligationsoftheStateofTIlinoisanditspoliticalsubdivisionsandTIlinoisinsurancecompanygeneralandseparateaccountsmutualfundsandequitysecuritiesTIlinoisFundsisaninvestmentpoolmanagedbytheStateofTIlinoisOfficeoftheTreasurerwhichallowsgovernmentswithintheStatetopooltheirfundsforinvestmentpurposesTIlinoisFundsisnotregisteredwiththeSECasaninvestmentcompanybutdoesoperateinamannerconsistentwithRule2a7oftheInvestmentCompanyActof1940InvestmentsinTIlinoisFundsarevaluedatTIlinoisFundssharepriceforwhichthepricetheinvestmentcouldbesold27 IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued3CASHANDINVESTMENTSContinuedaDepositsAtyearendthecarryingamountoftheprimarygovernmentsdepositstotaled17145615andthebankbalancestotaled18859087Thecarryingamountofthecomponentunitsdepositstotaled1912414andthebankbalancestotaled1717924BankBalancesPrimaryComponentGovernmentUnitCategory1DepositscoveredbyfederaldepositoryinsuranceorbycollateralheldbytheVillageoritsagentintheVillagesname188590871717924Category2DepositscoveredbycollateralheldbythepledgingfinancialinstitutionstrustdepartmentoritsagentsintheVillagesnameCategory3DepositscoveredbycollateralheldbythepledgingfinancialinstitutionoritstrustdepartmentoritsagentbutnotintheVillagesnameanddepositswhichareuninsuredanduncollateralizedTOTALDEPOSITS188590871717924ForpensiontrustfundsthetypesofdepositsauthorizedandthemixofcreditriskcategoriesdonotdiffersignificantlyfromtheotherfundsoftheVillagebInvestmentsTheVillagesinvestmentsarecategorizedtogiveanindicationofthelevelofcustodialcreditriskassumedbytheentityatyearendCategory1includesinvestmentsthatareinsuredorregisteredorforwhichthesecuritiesareheldbytheVillageoritsagentintheVillagesnameCategory2includesuninsuredandunregisteredinvestmentsforwhichthesecuritiesareheldbythecounterpartystrustdepartmentoragentintheVillagesnameCategory3includesuninsuredandunregisteredinvestmentsforwhichthesecuritiesareheldbythecounterpartyintheVillagesnameorheldbyanythirdpartynotintheVillagesnameanduninsuredunregisteredinvestments28 FairValueCategory23TotalsIIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued3CASHANDINVESTMENTSContinuedbInvestmentsContinuedPrimaryGovernmentusTreasurysecuritiesUSAgencysecuritiesCorporatebondsMunicipalbonds3340732711876149219773437254804633407327118761492197734372548046174490302174490302IllinoisFundsMutualfundsInsurancecontractsandseparateaccounts756403513631546994711TOTALINVESTMENTS196680594NotsubjecttocustodialcreditriskcategorizationComponentUnitInvestmentsfortheComponentunitconsistof200888ofIllinoisFundsIllinoisFundsarenotsubjecttocustodialcreditriskcategorizationandthefairvalueofthepositionintheexternalpoolisthesameasthevalueofthepoolshares4RECEIVABLESPropertytaxesfor2004attachasanenforceablelienonJanuary12004onpropertyvaluesassessedasofthesamedateTaxesareleviedbyDecemberofthefiscalyearbypassageofaTaxLevyOrdinanceTaxbillsarepreparedbytheCountyandissuedonoraboutFebruary12005andAugust12005andarepayableintwoinstallmentsonoraboutMarch12005andSeptember12005TheCountycollectssuchtaxesandremitsthemperiodicallyTheallowanceforuncollectibletaxeshasbeenstatedat2ofthetaxlevytoreflectactualcollectionexperienceSincethe2004levyisintendedtofundthe2005fiscalyearthelevyhasbeenrecordedasareceivableanddeferredrevenue29 IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued4RECENABLESContinuedThefollowingreceivablesareincludedinMiscellaneousReceivablesontheStatementofNetAssetsGOVERNMENTALACTIVITIESFranchisetax75100Hotelmoteltax43593Localusetax115023Amusementtax12351Developers311877Courtfines19429Grants946277Disposalfees77991911surchargefees41422Chargesforservices18164Reimbursements30000Other581TOTAL1691808ThefollowingreceivablesareincludedinDueFromOtherGovernmentsontheStatementofNetAssetsGOVERNMENTALACTIVITIESGlenbrookFireProtectionDistrictIntergovernmentalagreementsMotorfueltaxOther5350123434041030747250TOTAL9887405CAPITALASSETSCapitalassetactivityfortheyearendedDecember312004wasasfollowsPrimaryGovernmentBeginningBalanceRestatedIncreasesDecreasesEndingBalanceGOVERNMElTALACTIVITIESCapitalassetsnotbeingdepreciatedLandLandrightofwayConstructioninprogressTotalcapitalassetsnotbeingdepreciated5643853488353226088573203571822644575556438535492389520357182809249305447917530 VILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued5CAPITALASSETSContinuedPrimaryGovernmentContinuedCapitalassetsbeingdepreciatedBuildingsandimprovementsMachineryandequipmentInfrastructureTotalcapitalassetsbeingdepreciatedLessaccumulateddepreciationforBuildingsandlandimprovementsMachineryandequipmentInfrastructureTotalaccumulateddepreciationTotalcapitalassetsbeingdepreciatednetGOVERNMENTALACTIVITIESCAPITALASSETSNETBeginningBalanceRestatedDecreasesEndingBalanceIncreases10234967857854310625623I125069741499032306365805397102349679077575101894106460702101894125773244306445021896832834185318712960989627970137633067240169340034760460162293581650495978797905351227762531018947617536513353268723669502101894157100295Thebeginningbalanceofthecapitalassetshasbeenrestatedby972898duetotheinclusionofinfrastructuretheinclusionofinternalservicecapitalassetsandduetoachangeinthecapitalizationpolicyofthecapitalassetsFurtheraccumulateddepreciationhasbeenrestatedby161594toaccountforaccumulateddepreciationoncapitalassetsnotpreviouslydepreciatedBUSINESSTYPEACTIVITIESCapitalassetsnotbeingdepreciatedLandConstructioninprogressTotalcapitalassetsnotbeingdepreciatedCapitalassetsbeingdepreciatedBuildingsandimprovementsWatersystemSewersystemEquipmentandvehiclesTotalcapitalassetsbeingdepreciatedBeginningBalanceRestatedDecreasesEndingBalanceIncreases302851100000030285110000004469543654667897011262857396495521543028511000000130285144695436546678970112628573964955215431IIIIIIIIIIIIIIIIIII IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued5CAPITALASSETSContinuedPrimaryGovernmentContinuedBeginningBalanceEndingRestatedIncreasesDecreasesBalanceLessaccumulateddepreciationforBuildingsandimprovements30167913005314684Watersystem1016121973296910894188Sewersystem23599731830632543036Equipmentandvehicles23526522013952554047Totalaccumulateddepreciation15175523113043216305955Totalcapitalassetsbeingdepreciatednet34376631113043233246199BUSINESSTYPEACTIVITIESCAPITALASSETSNET3467948213043234549050DepreciationexpensewaschargedtofunctionsoftheprimarygovernmentasfollowsGOVERNMENTALACTNITIESGeneralgovernmentPublicsafetyDevelopmentPublicworks511744445562357130623493581650TOTALDEPRECIATIONEXPENSEGOVERNMENTALACTNITIESInproprietaryfundsthefollowingestimatedusefullivesareusedtocomputedepreciationBuildingimprovementsWatersewersystemsBuildingsEquipmentandvehiclesOfficefurnitureandequipment1020years50years4050years310years310years32 VILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued5CAPITALASSETSContinuedComponentUnitBeginningBalanceEndingRestatedIncreasesDecreasesBalanceGOVERNMENTALACTIVITIESCapitalassetsnotbeingdepreciatedLand500000500000Totalcapitalassetsnotbeingdepreciated500000500000CapitalassetsbeingdepreciatedBuildingsandimprovements41160884116088Equipmentandvehicles1404414044Totalcapitalassetsbeingdepreciated41301324130132LessaccumulateddepreciationforBuildingsandimprovements1778817823221861139Equipmentandvehicles1404414044Totalaccumulateddepreciation1792861823221875183Totalcapitalassetsbeingdepreciatednet2337271823222254949GOVERNMENTALACTIVITIESCAPITALASSETSNET2837271823222754949DepreciationexpensewaschargedtofunctionsofthegovernmentalactivitiesasfollowsGOVERNMENTALACTIVITIESCultureandrecreation823226RISKMANAGEMENTTheVillageisexposedtovariousrisksoflossrelatedtotortstheftofdamagetoanddestructionofassetserrorsandomissionsinjuriestoemployeesillnessesofemployeesandnaturaldisastersTheVillageisselfinsuredandparticipatesintwopublicemployeeriskpoolsforhealthclaimsforgeneralliabilityautopropertyandworkerscompensationrisksandhasestablishedariskfinancingfundInsuranceFundtheFundforallrisksItisaccountedforasaninternalservicefundwhereassetsaresetasideforclaimsettlementsUnderthisprogramtheFundprovidescoverageuptoamaximumof1000000foreachgeneralliabilityclaim50000foreachworkerscompensationclaimand50000foreachpropertydamageclaimTheVillagepurchasescommercialinsuranceforclaimsinexcessofthecoveragesprovidedbytheFundSettledclaimshavenotexceededthiscommercialcoverageinanyofthepastthreefiscalyears33IIIIIIIIIIIIIIIIIII IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued6RISKMANAGEMENTContinuedAllfundsoftheVillageparticipateandmakepaymentstotheFundbaseduponactuarialestimatesoftheamountsneededtopaypriorandcurrentyearclaimsLiabilitiesoftheFundarereportedwhenitisprobablethatalosshasoccurredandtheamountofthelosscanbereasonablyestimatedLiabilitiesincludeanamountforclaimsthathavebeenincurredbutnotreportedIBNRClaimliabilitiesarecalculatedconsideringtheeffectsofinflationrecentclaimsettlementtrendsincludingfrequencyandamountofpayoutsandothereconomicandsocietalfactorsChangesinthebalancesofclaimsliabilitiesduringthepasttwofiscalyearsareasfollows20042003CLAIMSPAYABLEJANUARY1365064176585Addclaimsincurred484664744350Lessclaimspaid682059555871CLAIMSPAYABLEDECEMBER31167669365064IntergovernmentalPersonnelBenefitCooperativeIPBCTheVillageparticipatesintheIntergovernmentalPersonnelBenefitCooperativeIPBCIPBCisapublicentityriskpoolestablishedbycertainunitsoflocalgovernmentinIllinoistoadministersomeorallofthepersonnelbenefitprogramsprimarilymedicaldentalandlifeinsurancecoverageofferedbyitsmemberstotheirofficersandemployeesandtotheofficersandemployeesofcertainothergovernmentalquasigovernmentalandnonprofitpublicserviceentitiesRiskoflossisretainedbytheVillageexceptthatIPBCpurchasesexcesscoveragepoliciesManagementconsistsofaBoardofDirectorscomprisedofoneappointedrepresentativefromeachmemberInadditiontherearethreeofficersaBenefitAdministratorandaTreasurerTheVillagedoesnotexerciseanycontroloveractivitiesoflPBCbeyonditsrepresentationontheBoardofDirectorsHighLevelExcessLiabilityPoolHELPTheVillageparticipatesintheHighLevelExcessLiabilityPoolHELPHELPisapublicentityriskpoolestablishedbycertainmunicipalitiesinIllinoistoprovideexcessliabilitycoverage10000000ofcoverageaftera2000000selfinsuranceretentionTheVillagespaymentstoHELParedisplayedonthefinancialstatementsasexpensesintheInsuranceFundHELPwasorganizedonApril11987ThepurposeofHELPistoactasajointselfinsurancepoolforthepurposeofseekingthepreventionorlesseningofliabilityclaimsforinjuriestopersonsorpropertyorclaimsforerrorsandomissionsmadeagainstthemembersandotherpartiesincludedwithinthescopeofcoverageofHELP34 VILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued6RISKMANAGEMENTContinuedHighLevelExcessLiabilityPoolHELPContinuedHELPisgovernedbyaBoardofDirectorswhichconsistsofoneappointedrepresentativefromeachmembermunicipalityEachdirectorhasanequalvoteTheofficersofHELPareappointedbytheBoardofDirectorsTheBoardofDirectorsdeterminesthegeneralpolicyofHELPmakesallappropriationsapprovescontractsadoptsresolutionsprovidingfortheissuanceofdebtbyHELPadoptsbylawsrulesandregulationsandexercisessuchpowersandperformssuchdutiesasmaybeprescribedintheAgencyAgreementorthebylawsTheVillagedoesnotexerciseanycontrolovertheactivitiesofHELPbeyonditsrepresentationontheBoardofDirectors7LONGTERMDEBTaChangesinLongTermLiabilitiesDuringthefiscalyearthefollowingchangesoccurredinliabilitiesreportedforlongtermliabilitiesCurrentJanuary1AdditionsReductionsDecember31PortionGOVERNMENTALACTIVITIESGeneralobligationbonds859328554731500047627001284851559124652Lessbonddiscounts742119911020683152638Compensatedabsences13690123754624206001323874264775TOTALGOVEENTALACTIVITIES872276564759135251626171296563919389427BUSINESSTYPEACTlVlTlESGeneralobligationbonds80771454973007579845540348Notepayable2343822995392244283104459Unamortizedlossonrefunding3200007917312083TOTALBUSINESSTYPEACTIVITIES101009675889229512045644807CompensatedabsencesaretypicallyliquidatedbytheGeneralFundbGeneralObligationBondsTheVillageissuesgeneralobligationbondstoprovidefundsfortheacquisitionandconstructionofmajorcapitalfacilitiesGeneralobligationbondshavebeenissuedforbothgeneralgovernmentandproprietaryactivitiesThesebondsthereforearereportedintheproprietaryfundsiftheyareexpectedtoberepaidfromproprietaryrevenues35IIIIIIIIIIIIIIIIIII IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued7LONGTERMDEBTContinuedbGeneralObligationBondsContinuedGeneralobligationbondsaredirectobligationsandpledgethefullfaithandcreditoftheVillageGeneralobligationbondscurrentlyoutstandingareasfollowsFundDebtBalancesBalancesCurrentIssueRetiredByJanuaryIAdditionsReductionsDecember3IAmount6175000CorporatePurposeBondSeriesof1997datedAugustI1997dueinannualNorthinstallmentsof100000toMaine495000plusinterestatWater4875to500throughandDecember12017Sewer1465000250000121500026000010000000GeneralObligationBondSeriesof1998AdatedNovemberI1998dueinannualinstallmentsof695000to1875000plusinterestat410to435throughDebtDecemberI2018Service100000001000000024400000GeneralObligationBondSeriesof1998BdatedJanuaryI1999dueinannualinstallmentsofI000000to2050000plusinterestat425to450DebtthroughDecemberI208Service2155500015100002004500015750004970000GeneralObligationBondSeriesof2000datedDecember152000dueinannualinstallmentsof345000to1875000plusinterestat430to45DebtthroughDecemberI2008Service4970000497000034500041800000GeneralObligationBondSeriesof200IdatedAugustI200Idueinannualinstallmentsof500000to5500000plusinterestat350to435DebtthroughDecemberI2012Service4130000050000040800000480000036 IVILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinuedI7LONGTERMDEBTContinuedIbGeneralObligationBondsContinuedIFundDebtBalancesBalancesCurrentIIssueRetiredByJanuaryIAdditionsReductionsDecember31Amount6885000GeneralObligationRefundingBondISeriesof2002datedFebruary152002dueinannualinstallmentsof1315000to2010000Iplusinterestat185to340throughDecemberIDebt2005Service312000018050001315000S13I50009990000GeneralSSA36704055271651346607IObligationRefundingBondSeriesof2003AdatedSSA37324502429300213045April12003dueinannualIinstallmentsof185000toNorthMaine1130000plusinterestatWaterand205to310throughSewer481714567300474984595348DecemberI2010IDebtService488500094000039450009550001995000GeneralIObligationRefundingBondSeriesof2003BdatedAprilI2003dueinannualIinstallmentsofI60000to225000plusinterestatWhole13to385throughsaleDecember12012Water17950001800001615000185000I25000000GeneralObligationBondSeriesof2004AdatedAugustII2004dueinannualinstallmentsof125000to8250000plusinterestatGNAS200to400throughRedevelopIDecember12014ment250000002500000012500022315000GeneralObligationBondSeriesofI2004BdatedAugust12004dueinannualinstallmentsof1015000to1900000Iplusinterestat350to470throughDecemberIDebt2024Service2231500022315000TOTAL940100004731500052600001360650009665000I37I IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued7LONGTERMDEBTContinuedcNotesPayableTheVillageentersintonotespayabletoprovidefundsfortheacquisitionofcapitalassetsNotespayablehavebeenissuedforproprietaryactivitiesTheproprietaryliabilitiesarethereforereportedintheproprietaryfundsNotepayablecurrentlyoutstandingisasfollowsFundDebtBalancesBalancesCurrentIssueRetiredByJanuaryIAdditionsReductionsDecember31Amount2850000CorporatePurposeNoteof1997datedSeptember21997dueinNorthannualinstallmentsofMaine215377plusinterestpaidWaterat4942throughandSeptember12019Sewer2343822995392244283104459dDebtServiceRequirementstoMaturityAnnualdebtservicerequirementstomaturityareasfollowsFiscalGeneralObligationBondsYearCarriedasEnterpriseFundEndingGeneralObligationBondsLiabilitiesDecember31PrincipalInterestPrincipalInterest20059115000516769354034824784720069490000484338356019322937220079885000446965258001720969220089335000407974659981718844520099660000371649562457316561020101005500033454406542811461422011104500002947840678938125485201210920000252121569855110363220131135000020650334881278084420141183500016279335050006630020153755000114681352500051150201639300007844685450003487520174110000820898580000179802018432500064405120191500000456588202015750003928382021165000032393120221725000251331202318250001737062024190000089300TOTAL128390000398683547579845166737438 VILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued7LONGTERMDEBTContinueddDebtServiceRequirementstoMaturityContinuedFiscalCorporatePurposeNotesYearCarriedasEnterpriseFundEndingLiabilitiesSpecialServiceAreaDecember31PrincipalInterestPrincipalInterest2005104459110918965226782006109621105756980725232007115039100338998323472008120725946521018321472009126691886861042719032010132952824251071916112011139523758541106212682012146419689581144988120131536556172211873457201416124954128201516921946158201617758237795201718635929018201819556919808201920522110143TOTAL22442839863599515515815eLegalDebtMarginTheGovernmentisahomerulemunicipalityArticleVIISection6kofthe1970IllinoisConstitutiongovernscomputationofthelegaldebtmarginTheGeneralAssemblymaylimitbylawtheamountandrequirereferendumapprovalofdebttobeincurredbyhomerulemunicipalitiespayablefromadvalorempropertytaxreceiptsonlyinexcessofthefollowingpercentagesoftheassessedvalueofitstaxableproperty2ifitspopulationismorethan25000andlessthan500000anaggregateofonepercentindebtednesswhichisoutstandingontheeffectivedateJuly11971ofthisconstitutionorwhichisthereafterapprovedbyreferendumshallnotbeincludedintheforegoingpercentageamountsTodatetheGeneralAssemblyhassetnolimitsforhomerulemunicipalities39IIIIIIIIIIIIIIIIIII IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued7LONGTERMDEBTContinuedfNoncommitmentDebtSpecialServiceAreaBondsSpecialserviceareabondsotherthanNo36andNo37outstandingasofthedateofthisreporttotaled737725ThesebondsarenotanobligationoftheVillageandaresecuredbythelevyofspecialserviceontherealpropertywithinthespecialserviceareaTheVillageisinnowayliableforrepaymentbutisonlyactingastheagentforthepropertyownersinlevyingandcollectingtheassessmentsandforwardingthecollectionstothebondholdersConduitDebtTheVillagehasissuedIndustrialDevelopmentRevenueBondsIDRBstoprovidefinancialassistancetoprivateorganizationsfortheconstructionandacquisitionofindustrialandcommercialimprovementsdeemedtobeinthepublicinterestThebondsaresecuredsolelybythepropertyfinancedandarepayablesolelyfromthepaymentsreceivedontheunderlyingmortgageloansonthepropertyTheVillageisnotobligatedinanymannerfortherepaymentofthebondsAccordinglythebondsoutstandingarenotreportedasaliabilityinthesefinancialstatementsAsofDecember312004therewasoneseriesofIDRBsoutstandingTheaggregateprincipalamountpayablefortheIDRBsoutstandingwas88600008CONTRACTUALCOMMITMENTSaHighLevelExcessLiabilityPoolHELPTheVillagehascommittedtopurchaseexcessliabilityinsurancefromtheHighLevelExcessLiabilityPoolHELPapublicentityriskpoolforcertainTIlinoismunicipalitiesthroughApril302008TheseamountshavebeencalculatedusingtheVillagescurrentallocationpercentageof884InfutureyearsthisallocationpercentagewillbesubjecttochangebecausetheHELPAgreementprovidesthateachyearmemberswillbeassessedbaseduponaformulathatspecifiesthefollowingfourcriteriaforallocatingpremiumcostsMilesofStreetsFullTimeEquivalentEmployeesNumberofMotorVehiclesOperatingRevenues40 VILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued8CONTRACTUALCOMMITMENTSContinuedbSolidWasteAgencyofNorthernCookCountySWANCCTheVillagehascommittedtopayitsshareoftheannualoperatingcostsandfixedcostsoftheSWANCCTheVillagesshareofcostsisexpectedtobefundedthroughtippingfeespaidbyrefusehaulersTheVillagebegandeliveringrefusetoSWANCCinMayof1995SWANCChasenteredintosolidwastedisposalcontractswiththetwentythreemembermunicipalitiesThecontractsareirrevocableandmaynotbeterminatedoramendedexceptasprovidedinthecontractEachmemberisobligatedonatakeorpaybasistopurchaseorinanyeventtopayforaminimumannualcostofthesystemTheobligationoftheVillagetomakeallpaymentsasrequiredbythiscontractisunconditionalandirrevocablewithoutregardtoperformanceornonperformancebySWANCCofitsobligationsunderthiscontract9lNTERFUNDTRANSACTIONSDueFromToOtherFundsPrimaryGovernmentReceivableFundPayableFundAmountMajorFundsGeneralFund911CommunicationsGNASRedevelopmentEscrowDepositDepositCapitalProjectsCorporatePurposeBondSeriesof2000CorporatePurposeBondSeriesof2002BondFundSeriesof19932004PoliceDepartmentHeadquartersWaterworksNorthMaineWaterandSewerWholesaleWaterSewerageCapitalEquipmentReplacementCommuterParkingLotMunicipalEquipmentRepairInsurance853351783616894550681414500033812001915076591847278426816153172102312889349615726356294060541IIIIIIIIIIIIIIIIIII IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued9INTERFUNDTRANSACTIONSContinuedDueFromToOtherFundsContinuedPrimaryGovernmentContinuedReceivableFundMajorFundsSpecialTaxAllocationGlenLandSalesGNASBondFundSeries1995PoliceDepartmentHeadquartersTotalmajorfundsNonmajorGovernmentalFundslllinoisMunicipalRetirementMotorFuelTaxRefuseandRecycling911Communications911CommunicationsGNASRedevelopmentGNASCaretakerDepositCapitalProjects2000Project2003ProjectTotalnonmajorgovernmentalfundsEnterpriseWaterworksSeweragePayableFundGeneralVillagePermanentGNASBondFundSeries1995GeneralGeneralCapitalProjectsGNASBondFundSeries1995GeneralGeneralGeneralGeneralCapitalEquipmentReplacementGeneralGeneralGeneralMotorFuelTaxWaterworksGeneralCorporatePurposeBondSeries2003CapitalProjectsSewerageWaterworks42Amount3819800225677245477500099451355031504481681933533873700001676246368721908209357013925813001676241096611594647187100344849445206713452574 VILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued9INTERFUNDTRANSACTIONSContinuedDueFromToOtherFundsContinuedPrimaryGovernmentContinuedReceivableFundPayableFundAmountIntalServiceMunicipalEquipmentRepairInsurance91082548534593GeneralillinoisMunicipalRetirementTOTAL4844002ThepurposeofthesignificantduefromtootherfundsisasfollowsThe681414765918472784and496157duetotheGeneralFundfromtheCapitalProjectsWaterworksNorthMaineWaterandSewerandMunicipalEquipmentandRepairFundsareforinterfundoperationsRepaymentisexpectedwithinoneyearThe225677duetotheGlenLandSalesFundfromtheGNASBondFundSeries1995isforannualMWRDfeesRepaymentisexpectedwithinoneyearThe370000duetotheIllinoisMunicipalRetirementFundfromtheGeneralFundisforinterfundoperationsRepaymentisexpectedwithinoneyearThe452067duetotheWaterworksFundfromtheSewerageFundisforinterfundoperationsRepaymentisexpectedwithinoneyearFiduciaryFundsReceivableFundPayableFundAmountGeneralPolicePensionFirefightersPensionGeneral21661750ComponentUnitReceivableFundPayableFundAmountPrimaryGovernmentComponentUnit23655The23655duetotheGeneralFundfromtheLibraryistoreimbursebillspaid43IIIIIIIIIIIIIIIIIII IIIIIIIIIIIIIIIIIIIVilLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued9INTERFUNDTRANSACTIONSContinuedAdvancesToFromOtherFundsReceivableFundPayableFundAmountGovernmentVillagePermanentGlenLandSales12752705EnterpriseWaterworks8191131614109109095116972CapitalEquipmentReplacementCapitalProjectsCapitalEquipmentReplacementCapitalEquipmentReplacementNorthMaineWaterandSewerSewerageTOTAL15411994ThepurposeofthesignificantAdvancesToFromOtherFundsisasfollowsThe12752705duetotheVillagePermanentFundfromtheGlenLandSalesFundisforinterfundoperationsRepaymentwillbecompletedattheendoftheTaxIncrementFinancingDistrict819113advancedtotheCapitalEquipmentReplacementFundfromtheWaterworksFundforvehicleandequipmentpurchasesRepaymentisexpectedinmorethanoneyear1614109advancedtotheCapitalProjectsFundfromtheWaterworksFundforinfrastructureimprovementsRepaymentisexpectedinmorethanoneyear109095advancedtotheCapitalEquipmentReplacementFundfromtheNorthMaineWaterandSewerFundforvehicleandequipmentpurchasesRepaymentisexpectedinmorethanoneyear116972advancedtotheCapitalEquipmentReplacementFundfromtheSewerageFundforvehicleandequipmentpurchasesRepaymentisexpectedinmorethanoneyear44 IVILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinuedI9INTERFUNDTRANSACTIONSContinuedIInterfundTransfersIPrimaryGovernmentITransfersInTransfersOutAmountMajorFundsIGeneralFundPoliceDepartmentSpecial24602GNASRedevelopment2000IGNASCaretaker2000EscrowDeposit64000NorthMaineWaterandSewer307500WholesaleWaterl06500I506602SpecialTaxAllocationCorporatePurposeBondSeriesof19986705ICorporatePurposeBondSeriesof20013988GlenLandSales6056679CorporatePurposeBondSeriesof20032090I6069462VillagePermanentGlenLandSales579248IGNASBondFundSeriesof19952001Project4635086SpecialTaxAllocation2456679I2004AProject311595010207715Totalmajorfunds17363027INonmajorFundsIMotorFuelTaxCapitalProjects1978750GNASRedevelopmentSpecialTaxAllocation1585000GNASCaretakerSpecialTaxAllocation2285000ICorporatePurposeBondSeriesof1996CorporatePurposeBondSeriesof2003393CorporatePurposeBondSeriesof2002Waterworks99194ISewerage8266CorporatePurposeBondSeriesof199658ICapitalProjectsWholesaleWater200000NorthMaineWaterandSewer237000I639366123756688I45 IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued9INTERFUNDTRANSACTIONSContinuedInterfundTransfersContinuedThepurposeofthesignificantInterfundTransfersareasfollows307500transfertoGeneralFundfromtheNorthMaineWaterandSewerasareturnofprofits106500transfertoGeneralFundfromtheWholesaleWaterFundasareturnofprofits6056679transfertoSpecialTaxAllocationfromtheGlenLandSalesFundtofundoperations4635086transfertoGNASBondFundSeriesof1995fromthe2001ProjectFundtofundoperations2456679transfertoGNASBondFundSeriesof1995fromtheSpecialTaxAllocationFundtofundoperations3115950transfertoGNASBondFundSeriesof1995fromthe2004AProjectFundtofundoperations1978750transfertoMotorFuelTaxfromtheCapitalProjectsFundtofundoperations1585000transfertoGNASRedevelopmentFundfromtheSpecialTaxAllocationFundtofundoperations2285000transfertoGNASCaretakerFundfromtheSpecialTaxAllocationFundtofundoperations99194transfertoCorporatePurposeBondSeriesof2002fromtheWaterworksFundforprincipalandinterestpayments200000transfertoCapitalProjectsFundfromtheWholesaleWaterFundtofundvariousprojects237000transfertoCapitalProjectsFundfromtheNorthMaineWaterandSewerFundtofundvariousprojects46 YearEndingDecember31AmountIIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued10CONTINGENTLIABILITIESaLitigationTheVillageisadefendantinvariouslawsuitsAlthoughtheoutcomeoftheselawsuitsisnotpresentlydeterminableintheopinionoftheVillageAttorneytheresolutionofthesematterswillnothaveamaterialadverseeffectonthefinancialconditionoftheVillagebGrantsAmountsreceivedorreceivablefromgrantoragenciesaresubjecttoauditandadjustmentbygrantoragenciesprincipallythefederalgovernmentAnydisallowedclaimsincludingamountsalreadycollectedmayconstitutealiabilityoftheapplicablefundsTheamountifanyofexpendituresthatmaybedisallowedbythegrantorcannotbedeterminedatthistimealthoughtheVillageexpectssuchamountsifanytobeimmaterialcHighLevelExcessLiabilityPoolHELPTheVillagehascommittedtopurchaseexcessliabilityinsurancefromtheHighlevelExcessLiabilityPoolHELPthroughApril302008TheVillageexpectstomakethefollowingpaymentstoHELPYearEndingDecember31Amount2005200620072008164378164378164378164378dSolidWasteAgencyofNorthernCookCountySWANCCTheVillagehascommittedtomakepaymentstoSWANCCforsolidwasterefusedisposalandexpectstopaythefollowingamounts20052006200720082022216084216016216016194371147 IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued10CONTINGENTLIABILITIESdSolidWasteAgencyofNorthernCookCountySWANCCContinuedTheseamountshavebeenestimatedbasedupontheVillagescommitmentfor2004InfutureyearstheannualexpensewillbesubjecttochangebasedupontheactualtonnageofrefusedisposedofandcurrentSWANCCcostseMunicipalInfrastructureMaintenanceFeesEffectiveJanuary11998theVillageimposedamunicipaltelecommunicationsinfrastructuremaintenancefeeIMFonpersonsinthebusinessoftransmittingsupplyingorfurnishingtelecommunicationsandallassociatedservicesegtelecommunicationsretailersinillinoisfortheuseofpublicrightofwaysThefeewasauthorizedbystatestatute35ILCS635InMarch2001awirelesstelecommunicationsproviderbroughtactionagainstanillinoisgovernmentchallengingtheconstitutionalityofthemunicipaltelecommunicationsinfrastructuremaintenancefeeTheillinoisSupremeCourtCourtfoundtheIMFtobeunconstitutionalasappliedtowirelesscarriersTheCourtsdecisionhelduponappealThemunicipalIMFfeewaseliminatedeffectiveDecember312002PotentialdamagestotheVillageunderthiscaseprecedentcouldaggregatethetotalofamountsremittedtotheVillageforIMFbyallcarriersduringtheperiodfromJanuary11998throughDecember312002TheVillagehasestimatedaliabilityunderpotentialIMFlawsuitsintheamountof974017foramountspaidunderprotestduringthistimeTheliabilityhasbeenaccruedandispresentedasanotherliabilityinthesefinancialstatements11JOINTVENTURESSolidWasteAgencyofNorthernCookCountySWANCCDescriptionofJointVentureTheVillageisamemberoftheSolidWasteAgencyofNorthernCookCountySWANCCwhichconsistsoftwentythreemunicipalitiesSWANCCisamunicipalcorporationandpublicbodypoliticandcorporateestablishedpursuanttotheConstitutionoftheStateofillinoisandtheIntergovernmentalCooperationActoftheStateofillinoisasamendedtheActSWANCCisempoweredundertheActtoplanconstructfinanceoperateandmaintainasolidwastedisposalsystemtoserveitsmembersSWANCCisgovernedbyaBoardofDirectorswhichconsistsofoneappointedmayororpresidentfromeachmembermunicipalityEachdirectorhasanequalvoteTheofficersofSWANCCareappointedbytheBoardofDirectorsTheBoardofDirectorsdeterminesthegeneralpolicyofSWANCCmakesallappropriationsapprovescontractsadoptsresolutionsprovidingfortheissuanceofbondsornotesbySWANCCadoptsbylawsrulesandregulationsandexercisessuchpowersandperformssuchdutiesasmaybeprescribedintheSWANCCAgreementorthebylaws48 49IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued11JOINTVENTURESContinuedSolidWasteAgencyofNorthernCookCountySWANCCContinuedDescriptionofJointVentureContinuedCompletefinancialstatementsforSWANCCcanbeobtainedfromtheSWANCCsadministrativeofficeat2700PatriotBoulevardSuite110GlenviewIllinois60026oravailableonthewebatwwwswancccomSWANCCsoutstandingbondsarerevenueobligationsTheyarelimitedobligationsofSWANCCwithaclaimforpaymentsolelyfromandsecuredbyapledgeoftherevenuesofSWANCCandamountsinvariousfundsandaccountsestablishedbyagencyresolutionsThebondsarenotthedebtofanymemberSWANCChasnopowertolevytaxesRevenuesofSWANCCconsistof1allreceiptsderivedfromsolidwastedisposalcontractsoranyothercontractsforthedisposalofwaste2allincomederivedfromtheinvestmentofmoniesand3allincomefeesandservicechargesandallgrantsrentsandreceiptsderivedbySWANCCfromtheownershipandoperationofthesystemSWANCCcovenantstoestablishfeesandchargessufficienttoproviderevenuestomeetallitsrequirementsInaccordancewiththecontracttheVillagemade723861inpaymentstoSWANCCfortheyearendedDecember312004ThepaymentsarerecordedintheRefuseandRecyclingFundTheVillagedoesnothaveanequityinterestinSWANCCatDecember31200412POSTEMPLOYMENTBENEFITSInadditiontoprovidingthepensionbenefitsdescribedtheVillageprovidespostemploymenthealthcarebenefitsforretiredpublicsafetyemployeesSubstantiallyalloftheVillagespublicsafetyemployeesmaybecomeeligibleforthosebenefitsiftheyreachnormalretirementagewhileworkingfortheVillageThecostofretireehealthcarebenefitsisrecognizedasanexpenditureasclaimsarepaidForthefiscalyearthosecoststotal330866forthe71participantsTheretireespayanannualpremiumwhichisequaltotheactuariallydeterminedcostforeachplanyearAccordinglynoliabilityhasbeenrecordedforpostretirementhealthcarebenefits IIIIIIIIIIIIIIIIIIIVilLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued13EMPLOYEERETIREMENTSYSTEMSaPlanDescriptionsandProvisionsTheVillagecontributestothreedefinedbenefitpensionplanstheIllinoisMunicipalRetirementFundIMRFanagentmultipleemployerpublicemployeeretirementsystemthePolicePensionPlanwhichisasingleemployerpensionplanandtheFirefightersPensionPlanwhichisalsoasingleemployerpensionplanThebenefitsbenefitlevelsemployeecontributionsandemployercontributionsforallthreeplansaregovernedbyIllinoisCompiledStatutesandcanonlybeamendedbytheIllinoisGeneralAssemblyNoneofthepensionplansissueseparatereportsonthepensionplansHoweverIMRFdoesissueapubliclyavailablereportthatincludesfinancialstatementsandsupplementaryinformationfortheplanasawholebutnotforindividualemployersThatreportcanbeobtainedfromIMRF2211YorkRoadSuite500OakBrookIllinois60523IllinoisMunicipalRetirementFundAllemployeesotherthanthosecoveredbythePoliceorFirefightersplanshiredinpositionsthatmeetorexceedtheprescribedannualhourlystandardmustbeenrolledinIMRFasparticipatingmembersPensionbenefitsvestaftereightyearsofserviceParticipatingmemberswhoretireatorafterage60witheightyearsofcreditedserviceareentitledtoanannualretirementbenefitpayablemonthlyforlifeinanamountequaltoI23oftheirfinalrateofearningsforeachyearofcreditedserviceupto15yearsand2foreachyearthereafterIMRFalsoprovidesdeathanddisabilitybenefitsThesebenefitprovisionsandallotherrequirementsareestablishedbystatestatuteParticipatingmembersarerequiredtocontribute45oftheirannualsalarytoIMRFTheVillageisrequiredtocontributetheremainingamountsnecessarytofundtheIMRFasspecifiedbystatuteTheemployercontributionfortheyearendedDecember3I2004was867ofcoveredpayrollPolicePensionPoliceswornpersonnelarecoveredbythePolicePensionPlanAlthoughthisisasingleemployerpensionplanthedefinedbenefitsandemployeeandemployercontributionslevelsaregovernedbyIllinoisCompiledStatutesChapter40Article53andmaybeamendedonlybytheIllinoislegislatureTheVillageaccountsfortheplanasapensiontrustfundAtDecember312004thePolicePensionPlanmembershipconsistedofRetireesandbeneficiariescurrentlyreceivingbenefitsTerminatedemployeesentitledtobenefitsbutnotyetreceivingthemCurrentemployeesVestedNonvested3724828TOTAL11550 RetireesandbeneficiariescurrentlyreceivingbenefitsTerminatedemployeesentitledtobenefitsbutnotyetreceivingthemCurrentemployeesVestedNonvested55IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued13EMPLOYEERETIREMENTSYSTEMSContinuedaPlanDescriptionsandProvisionsContinuedPolicePensionContinuedThePolicePensionPlanprovidesretirementbenefitsaswellasdeathanddisabilitybenefitsCoveredemployeesattainingtheageof50ormorewith20ormoreyearsofcreditableserviceareentitledtoreceiveanannualretirementbenefitofonehalfofthesalaryattachedtotherankheldonthelastdayofserviceorforoneyearpriortothelastdaywhicheverisgreaterTheannualbenefitshallbeincreasedby250ofsuchsalaryforeachadditionalyearofserviceover20yearsupto30yearstoamaximumof7500ofsuchsalaryEmployeeswithatleasteightyearsbutlessthan20yearsofcreditedservicemayretireatorafterage60andreceiveareducedbenefitThemonthlypensionofapoliceofficerwhoretiredwith20ormoreyearsofserviceafterJanuary11977shallbeincreasedannuallyfollowingthefirstanniversarydateofretirementandbepaiduponreachingtheageofatleast55yearsby300oftheoriginalpensionand300compoundedannuallythereafterEmployeesarerequiredtocontribute991oftheirbasesalarytothePolicePensionPlanIfanemployeeleavescoveredemploymentwithlessthan20yearsofserviceaccumulatedemployeecontributionsmayberefundedwithoutaccumulatedinterestTheVillageisrequiredtocontributetheremainingamountsnecessarytofinancetheplanasactuariallydeterminedbyanenrolledactuaryEffectiveJuly11993theVillagescontributionsmustaccumulatetothepointwherethepastservicecostforthePolicePensionPlanisfullyfundedbytheyear2033FortheyearendedDecember312004theVillagescontributionwas1347ofcoveredpayrollFirefightersPensionFireswornpersonnelarecoveredbytheFirefightersPensionPlanwhichisadefinedbenefitsingleemployerpensionplanAlthoughthisisasingleemployerpensionplanthedefinedbenefitsaswellastheemployeeandemployercontributionslevelsaremandatedbyIllinoisCompiledStatutesChapter40Article54andmaybeamendedonlybytheIllinoislegislatureTheVillageaccountsfortheplanasapensiontrustfundAtDecember312004theFirefightersPensionPlanmembershipconsistedof4540TOTAL14051 IIIIIIIIIIIIIIIIIIIVllLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued13EMPLOYEERETIREMENTSYSTEMSContinuedaPlanDescriptionsandProvisionsContinuedFirefightersPensionContinuedTheFirefightersPensionPlanprovidesretirementbenefitsaswellasdeathanddisabilitybenefitsEmployeesattainingtheageof50ormorewith20ormoreyearsofcreditableserviceareentitledtoreceiveamonthlyretirementbenefitofonehalfofthemonthlysalaryattachedtotherankheldinthefireserviceatthedateofretirementThemonthlypensionshallbeincreasedby112of250ofsuchmonthlysalaryforeachadditionalmonthover20yearsofservicethrough30yearsofservicetoamaximumof7500ofsuchmonthlysalaryEmployeeswithatleast10yearsbutlessthan20yearsofcreditedservicemayretireatorafterage60andreceiveareducedretirementbenefitThemonthlypensionofacoveredemployeewhoretiredwith20ormoreyearsofserviceafterJanuary11977shallbeincreasedannuallyfollowingthefirstanniversarydateofretirementandpaiduponreachingatleasttheage55by3oftheoriginalpensionand3compoundedannuallythereafterCoveredemployeesarerequiredtocontribute9455oftheirsalarytotheFirefightersPensionPlanIfanemployeeleavescoveredemploymentwithlessthan20yearsofserviceaccumulatedemployeecontributionsmayberefundedwithoutaccumulatedinterestTheVillageisrequiredtocontributetheremainingamountsnecessarytofinancetheplanasactuariallydeterminedbyanenrolledactuaryEffectiveJuly11993theVillagescontributionsmustaccumulatetothepointwherethepastservicecostfortheFirefightersPensionPlanisfullyfundedbytheyear2033FortheyearendedDecember312004theVillagescontributionwas1052ofcoveredpayrollbSummaryofSignificantAccountingPoliciesThepensiontrustfundsusetheaccrualbasisofaccountingContributionsandbenefitsarerecognizedwhendueAdministrativecostsarefinancedbyinvestmentmcomeTherearenoinvestmentsotherthanUSgovernmentandUSgovernmentguaranteedobligationsinanyoneorganizationthatrepresent500ormoreofnetassetsforeitherthePoliceortheFirefightersPensionPlansInformationforIMRFisnotavailable52 13EMPLOYEERETIREMENTSYSTEMSContinuedcAnnualPensionCostsEmployercontributionshavebeendeterminedasfollowsIllinoisMunicipalPoliceFirefightersRetirementPensionPensionActuarialValuationDateDecember31January1January1200220042004ActuarialCostMethodEntryageEntryageEntryageNormalNormalNormalAssetValuationMethod5YearMarketMarketSmoothedMarketAmortizationMethodLevelLevelLevelPercentageofPercentageofPercentageofPayrollPayrollPayrollAmortizationPeriod10Years30Years31YearsClosedClosedClosedSignificantActuarialAssumptionsaRateofReturnon750800800PresentandFutureAssetsCompoundedCompoundedCompoundedAnnuallyAnnuallyAnnuallybProjectedSalaryIncrease400300300AttributabletoInflationCompoundedCompoundedCompoundedAnnuallyAnnuallyAnnuallycAdditionalProjected40to1160250250SalaryIncreasesSeniorityMeritdPostRetirementBenefit300300300IncreasesIIIIIVILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinuedIIIIIIIIIIIIIIEmployerannualrequiredcontributionARCactualcontributionsandthenetpensionobligationassetNPOareasfollowsTheNPOassetisthecumulativedifferencebetweentheARCandthecontributionsactuallymade53 IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued13EMPLOYEERETIREMENTSYSTEMSContinuedcAnnualPensionCostsContinuedIllinoisMunicipalPoliceFirefightersYearRetirementYearPensionPensionAnnualRequiredContribution20027062592001444665415254ARC20038495342002549860536220200412466732003681930584350ActualContribution2002706259200138831025722420038495342002540072527906200412466732003680190581665PercentageofARC200210000200187336194Contributed200310000200298229845200410000200399749954NPOAsset200220012135281716392003200221122716934420042003216688172433InformationpresentedforIMRFisforthefiscalyearsendingDecember3120022003and2004andforpoliceandfirepensionisforDecember3120012002and2003ThenetpensionobligationassethasbeencalculatedasfollowsPoliceFirefightersPensionPensionAnnualrequiredcontributions681930584350Interestonnetpensionobligation1689813548Adjustmenttoannualrequiredcontribution96977774Annualpensioncost674729578576Contributionsmade680190581665Increasedecreaseinnetpensionobligationasset54613089Netpensionobligationassetbeginningofyear211227169344NETPENSIONOBLIGATIONASSETENDOFYEAR21668817243354 55IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued14PRIORPERIODADJUSTMENTThefollowingpriorperiodadjustmentsweremadetocorrectpriorperioderrorsinrecognitionofrevenuesandexpendituresexpensesGeneralFund202238VillagePermanent848724GNASBondFundSeries1995225000GlenLandSales1073724Waterworks1800819NorthMaineWaterandSewer357960RefuseandRecycling8555GNASCaretaker43804CapitalProjects1188062000Project40393Sewerage425000andInsurance325754Additionallyprioryearissuanceofbondsintheamountof1047145werereclassifiedfromthegovernmentalactivitiestotheNorthMaineWaterandSewerFund IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISSCHEDULEOFREVENUESEXPENDITURESANDCHANGESINFUNDBALANCEBUDGETANDACTUALGENERALFUNDFortheYearEndedDecember312004withcomparativeactualfor2003OriginalandFinal20042003BudgetActualActualREVENUESTaxes118652451337276412381094Intergovernmental170893951854306416964397Chargesforservices135037514899941021693Licensesandpermits139600021288261671554Finesandforfeits201000249956181384Investmentincome360000145992155307Miscellaneous1401700571396966982Totalrevenues336637153650199233342411EXPENDITURESGeneralgovernment886222392733327822025Publicsafety198067231889511318243047Highwaysandstreets766651273804277083597Totalexpenditures363354583554887233148669EXCESSDEFICIENCYOFREVENUESOVEREXPENDITURES2671743953120193742OTHERFINANCINGSOURCESUSESTransfersin4569005066021265195Transfersout1260335Saleofcapitalassets15000025000Totalotherfmancingsourcesuses6069005316024860NETCHANGEINFUNDBALAlCE20648431484722198602FUNDBALANCEJANUARY11787381215898842Priorperiodadjustment2022381776368FUNDBALANCEJANUARY1RESTATED1767157417675210FUNDBALANCEDECEMBER311915629617873812Seeindependentauditorsreport56 IVILLAGEOFGLENVIEWILLINOISSCHEDULEOFREVENUESEXPENDITURESANDICHANGESINFUNDBALANCEBUDGETANDACTUALSPECIALTAXALLOCATIONFUNDIFortheYearEndedDecember312004Iwithcomparativeactualfor2003OriginalandIFinal20042003IBudgetActualActualREVENUESITaxesPropertytaxes10000000122872506572481Investmentincome20001015612777ITotalrevenues10002000122974066585258EXPENDITURESIGeneralgovernmentContractualservices562500058020093700716IDebtservicePrincipal29500002950000IInterestandfiscalcharges31815563484716Totalexpenditures11756556122367253700716IEXCESSDEFICIENCYOFREVENUESOVEREXPENDITURES1754556606812884542IiOTHERFINANCINGSOURCESUSESTransfersin60694625420537ITransfersout495000063266798981823Totalotherfinancingsourcesuses49500002572173561286INETCHANGEINFUNDBALANCE6704556196536676744FUNDBALANCEJANUARY1276946953690IFUNDBALANCEDECEMBER3180410276946IISeeindependentauditorsreportI57 IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISREQUIREDSUPPLEMENTARYINFORMATIONSCHEDULEOFFUNDINGPROGRESSILLINOISMUNICIPALRETIREMENTFUNDDecember3120044UAAL2UnfundedOAALActuarialOverfundedAsaActuarial1Accrued3AALPercentageValuationActuarialLiabilityFundedUAAL5ofCoveredDateValueofAALRatioOAALCoveredPayrollDecember31AssetsEntryAge1221Payroll451999209716391968021510656129142495145121357200024477730217907351123326869951037955025892001262036172378583211016241778511708708206520022595044125778690100671717511232564313920032636571028168552936018028421308990313772004285930343264189587604048861143791582816Seeindependentauditorsreport58 IIIIIIIIII1IIIIIIIVILLAGEOFGLENVIEWILLINOISREQUIREDSUPPLEMENTARYINFORMATIONSCHEDULEOFEMPLOYERCONTRIBUTIONSILLINOISMUNICIPALRETIREMENTFUNDDecember312004AnnualRequiredCalendarEmployerContributionPercentageYearContributionsARCContributed19998315688315681000020008251738251731000020017961917961911000020027062597062591000020038495348495341000020041246673124667310000Seeindependentauditorsreport61 IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISREQUIREDSUPPLEMENTARYINFORMATIONSCHEDULEOFEMPLOYERCONTRIBUTIONSPOLICEPENSIONFUNDDecember312004ArmualRequiredCalendarEmployerContributionPercentageYearContributionsARCContributed1998376836389071968619993872083895589940200042750318650522922200138831044466587332002540072549860982220036801906819309974Seeindependentauditorsreport62 December312004IIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISREQUIREDSUPPLEMENTARYINFORMATIONSCHEDULEOFEMPLOYERCONTRIBUTIONSFIREFIGHTERSPENSIONFUNDAnnualRequiredCalendarEmployerContributionPercentageYearContributionsARCContributed19982363341274981853619991574761293051217920001738215252333094200125722441525461942002527906536220984520035816655843509954Seeindependentauditorsreport63 IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISNOTESTOREQUIREDSUPPLEMENTARYINFORMATIONDecember3120041BUDGETSBudgetsareadoptedonabasisconsistentwithgenerallyacceptedaccountingprinciplesAnnualappropriatedbudgetsareadoptedatthefundlevelfortheGeneralSpecialRevenueDebtServiceexcepttheCorporatePurposeBondFundSeriesof2003andCapitalProjectsFundsexceptthe2003ProjectsFundonthemodifiedaccrualbasisandfortheEnterpriseInternalServiceandPensionTrustFundsontheaccrualbasisTheannualappropriatedbudgetislegallyenactedandprovidesforalegallevelofcontrolatthefundlevelAllannualappropriationslapseatfiscalyearendDuringthecurrentyearbudgetswerenotadoptedforthefollowingfundsDebtServiceFundsGeneralObligationBondFundSeriesof2004CapitalProjectsFunds2004GlenBond2004PoliceHeadquartersThesourceofrevenueandnatureofexpendituresforthesefundsarenotsubjecttopredictionandthereforebudgetswerenotadoptedAlldepartmentsoftheVillagesubmitrequestsforappropriationtotheVillageManagersothatabudgetmaybepreparedThebudgetispreparedbyfundandincludesinformationonthepastyearcurrentyearestimatesandrequestedappropriationsforthenextfiscalyearTheproposedbudgetispresentedtothegoverningbodyforreviewThegoverningbodyholdspublichearingsandmayaddtosubtractfromorchangeappropriationsbutmaynotchangetheformofthebudgetTheVillageManagerisauthorizedtotransferbudgetedamountsbetweendepartmentswithinanyfundhoweveranyrevisionsthatalterthetotalexpendituresofanyfundmustbeapprovedbythegoverningbodyExpendituresmaynotlegallyexceedbudgetedappropriationsatthefundlevelDuringtheyearasupplementaryappropriationwasnecessary64 FundExcessIIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISNOTESTOREQUIREDSUPPLEMENTARYINFORMATIONContinued2EXCESSOFACTUALEXPENDITURESIEXPENSESOVERBUDGETININDNIDUALFUNDSThefollowingfundshadanexcessofactualexpendituresexpensesexclusiveofdepreciationandamortizationoverbudgetforthefiscalyearSpecialTaxAllocationIllinoisMunicipalRetirementPoliceSpecialAccountGeneralObligationRefundingBondSeriesof2002MunicipalEquipmentRepair48016925885276651068601303665 IIIIIIIIIIIIIIIIIIINUVORGOVERNMENTALFUNDSVillagePermanentFundtoaccumulate20ofthelandsalesproceedsofTheGlenforvillagewideimprovementsaswellasshorttermliquiditytotheVillagesTIPprojectsencompassingTheGlenGNASBondFundSeries1995toaccountforvariousdevelopmentandotherprojectsrelatedtoTheGlenGlenLandSalesFundtoaccountforlandsalesrelatedtoTheGlen Final20042003BudgetActualActualREVENUESInvestmentincome6750001062083315187Totalrevenues6750001062083315187EXPENDITURESNoneTotalexpendituresEXCESSDEFICIENCYOFREVENUESOVEREXPENDITURES6750001062083315187OTHERFINANCINGSOURCESUSESTransfersin580763579248697256Totalotherfinancingsourcesuses580763579248697256NETCHANGEINFUNDBALANCE125576316413311012443FUNDBALANCEJANUARY13832189337309450Priorperiodadjustment848724FUNDBALANCEJANUARY1RESTATED3917061737309450FUNDBALANCEDECEMBER314081194838321893IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISSCHEDULEOFREVENUESEXPENDITURESANDCHANGESINFUNDBALANCEBUDGETANDACTUALLLAGEPERMANENTFUNDFortheYearEndedDecember312004withcomparativeactualfor2003Seeindependentauditorsreport66 IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENTIEWILLINOISSCHEDULEOFREVENUESEXPENDITURESANDCHANGESINFUNDBALANCEBUDGETANDACTUALGNASBONDFUNDSERIES1995FortheYearEndedDecember312004withcomparativeactualfor2003Final20042003BudgetActualActualREVENUESIntergovernmental10000003957471400655Investmentincome200021022355Miscellaneous30168953Totalrevenues10020003989741403963EXPENDITURESCapitaloutlay450219731270782717167616Totalexpenditures450219731270782717167616EXCESSDEFICIENCYOFREVENUESOVEREXPENDITURES44019973871808616763653OTHERFINANCINGSOURCESUSESTransfersin55300001020771517803419Totalotherfinancingsourcesuses55300001020771517803419NETCHANGEINFUNDBALANCE3848997314896291039766FUNDBALANCEDEFICITJANUARY125133603553126Priorperiodadjustment225000FUNDBALANCEDEFICITJANUARY1RESTATED22883603553126FUNDBALANCEDEFICITDECEMBER317987312513360Seeindependentauditorsreport67 IVILLAGEOFGLE1VlEWILLINOISSCHEDULEOFDETAILEDEXPENDITURESIBUDGETANDACTUALGNASBONDFUNDSERIES1995IFortheYearEndedDecember312004withcomparativeactualfor2003IFinal20042003IBudgetActualActualPROJECTCOSTSIVillageofGlenviewDevelopmentDepartmentfees35500004635894000Systemimprovements50431IDemolition3168750210401716Surveysplatsandmaps2500005242384710EastLakeAveconstruction53928993388791988220Engineering241000010520131262624ISidewalks712000Stormwatermanagement28385Sanitarysewerconstruction4479734057527576IMiscellaneousimprovements195249Memorialrestoration1253494097976793SCADAsystem10000080549100181IPatriotBlvdWillowtoWLake94772275LehighAvenueroadways20316629703901606819ChestnutPatriotBlvdtogolfcourse5000030900ITrafficsignalsLehigh282279122762269770DrainageLehigh1074079301571892014EastLakeAveEngineeringConstructionmanagement8000006986481164201IWatersourceimprovements9500002737781156513Firedepartmentbuilding132014912856551340246Bikepaths94842534071227IStreetlightsLehigh15000050648280697Youthservices155000143299162351GalleryParklandscapeandamenities10196084102301510452IRoadwaymedianandparkwaylandscape678772410373222095Prairiewetlandmanagementandmitigation180244120554494506PatriotBlvdWLaketoChestnut8984922092751668101NIPSTA264220898551290528IStreetlightingandtrafficsignals1805554131700661908Lakeoutletandculvertenhancements450000104177590WLakelPickwicktoPatriotBlvd41253IWSidereservoirandpumpconstruction10000016632Rugenengineering500000248477Watersystemanalysis25000IRugenreservoirandpumpconstruction4000000418518044Utilityallowance30000034484851403MichaelJosephfoundation30000IPotablewaterconstruction1498654419954103ThisscheduleiscontinuedonthefollowingpageI68 IIIIIIIIIIIIIilIIIIIVILLAGEOFGLENVIEWILLINOISSCHEDULEOFDETAILEDEXPENDITURESBUDGETANDACTUALContinuedGNASBONDFUNDSERIES1995FortheYearEndedDecember312004withcomparativeactualfor2003Final20042003BudgetActualActualPROJECTCOSTSContinuedMetrastationdesignandconstruction620000476466Metrastationparkinglots442020Stormwaterpipingconstruction273832074514Landpurchaseeasements35000009168Constructionfence155000605585Publicworkscampus50000018688PrairieLawnclosing100000Lakeconstructionandmanagement156097178974Telephone120Miscellaneousrestoration42500021803677070Contingencies1316674TOTALEXPENDITURES450219731270782717167616Seeindependentauditorsreport69 Final20042003BudgetActualActualREVENUESInvestmentincome1500512521675933MiscellaneousLeasefees4282Landsales290381428934608919398Totalrevenues2905314294899410595331EXPENDITURESDebtserviceInterestandfiscalcharges721851Capitaloutlay366082753513244842356Totalexpenditures3660827125698344842356EXCESSDEFICIENCYOFREVENUESOVEREXPENDITURES755513169201134247025OTHERFINANCINGSOURCESUSESTransfersout58076366359276117794Totalotherfmancingsourcesuses58076366359276117794NETCHANGEINFUNDBALANCE1336276494391640364819FUNDBALANCEDEFICITJANUARY1493519735429622Priorperiodadjustment1073724FUNDBALANCEDEFICITJANUARY1RESTATED600892135429622FUNDBALANCEDEFICITDECEMBER31109528374935197IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISSCHEDULEOFREVENUESEXPENDITURESANDCHANGESINFUNDBALANCEBUDGETANDACTUALGLENLANDSALESFUNDFortheYearEndedDecember312004withcomparativeactualfor2003Seeindependentauditorsreport70 IIIIIIIIIIIIIIIIIIIThispageisintentionallyleftblank VILLAGEOFGLE11VIEWILLINOISSCHEDULEOFREVENUESBUDGETANDACTUALGENERALFUNDFortheYearEndedDecember312004withcomparativeactualfor2003IIII2003IActual5822896I5357023536I95994418934252910237I1515170233512381094I2245157I10406710830776I2593235377023215597I2664127336146064I32247816964397I255629I871173594616920I673485059215487I595492580571195I1021693IOriginalandFinal2004BudgetActual65574955501725750001606765000091667719827501964523185000030672221500001009425000006989761000001106632118652451337276423000002535012850001253351050000011632246264500026594833850004371212100002046392000130000146208260000222360565000575114739555461708939518543064TAXESPropertytaxescurrentPropertytaxespriorUtilitytaxmobileservicesUtilitytaxNIGasUtilitytaxCommonwealthEdisonUtilitytaxtelecommunicationsAmusementtaxHotelroomtaxHomerulesalestaxTotaltaxesINTERGOVERNMENTALGlenbrookFireProtectionDistrictReplacementtaxesSalestaxIllinoisincometaxPhotousetaxRoadandbridgeRoadandbridgepriorVillageofGolfFireProtectionServicesMiscellaneousintergovernmentalMakewholepaymentMaintenanceofhighwaysTotalintergovernmentalCHARGESFORSERVICESFirecommunicationsPlanreviewfeesReinspectionfeesElevatorinspectionfeesPlanningfeesElectricalinspectionEngineeringfeesOtherservicechargesLeasefeesDogimpoundingfeesDevelopmentfees22000015000020000130002500550001500001500021887510005050002343272227552323840395111291074985184917008220776386053456Totalchargesforservices1350375Thisscheduleiscontinuedonthefollowingpage711489994 IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISSCHEDULEOFREVENUESBUDGETANDACTUALContinuedGENERALFUNDFortheYearEndedDecember312004withcomparativeactualfor2003OriginalandFinal20042003BudgetActualActualLICENSESANDPERMITSBusiness750008445866739Liquor1500009622557950Pet22951920Buildingpermits102100017439171370118Certificateofoccupancy400003854329735Contractorsfees500006838564436Plumbingandsewer500008267669265Drivewaypermits100001232711391Totallicensesandpermits139600021288261671554FINESANDFORFEITS201000249956181384INVESTMENTINCOMEInvestmentincome360000145992155307Totalinvestmentincome360000145992155307OTHERREVENUESInfrastructuremaintenancefee9796FranchisetaxcableTV250000296880270713Nicorfranchisetax390004108937425Mapsales200527595Landsales1050000Miscellaneous62500232900648453Totalotherrevenues1401700571396966982TOTALREVENUES336637153650199233342411Seeindependentauditorsreport72 IVILLAGEOFGLENVIEWILLINOISSCHEDULEOFEXPENDITURESBUDGETANDACTUALIGENERALFUNDFortheYearEndedDecember312004Iwithcomparativeactualfor2003OriginalandIFinal20042003BudgetActualActualIGENERALGOVERNMENTBoardofTrustees717806495335034Specialboard12052401494911255382ILegal279000325058396467EmergencyServiceDisasterAgency565039513951VillageManager768375727917592866IFinance189472819029271845181Informationsystemsmanagement640199600853623220Personnelandinsurance459337047027783985948CableTV11223110327596626ILessadministrativefees708350653291690345Totalgeneralgovernment886222392733327144330IPUBLICSAFETYPolicedepartment957530595220918943667Firedepartment1030966894954449257905IPrinting567501257841475Lessadministrativefees13500013500090000Totalpublicsafety198067231889511318153047IHIGHWAYSANDSTREETSDevelopmentandpublicservicesIAdministration407807447701409091Planningandzoning462832370580219999Engineering1011822928041923660Publichealth261744257538243322IBuildingsandgrounds26651422878224839Buildinginspection107148110652231086978Totaldevelopmentandpublicservices348220032978643107889IPublicworksAdministration359498370381323282IOverhead182835820668471526792Streetmaintenance371026230937515304Traffic358478264119455528Stormwatermanagement165769174736115338ISnowandicecontrol510349460363333839Forestry352760302376538465Grounds238074212804167160ITotalpublicworks418431240825633975708Totalhighwaysandstreets766651273804277083597ITOTALEXPENDITURES363354583554887232380974SeeindependentauditorsreportI73 IVILLAGEOFGLENVIEWILLINOISISCHEDULEOFDETAILEDEXPENDITURESBUDGETANDACTUALGENERALFUNDIFortheYearEndedDecember312004withcomparativeactualfor2003IIOriginalandFinal20042003BudgetActualActualGENERALGOVERNMENTBoardofTrusteesPersonalservices900091509788Contractualservices410004498017204Materialandsupplies2078010415385Other10004087657TotalBoardofTrustees717806495335034SpecialboardContractualservices259610244006252712Materialandsupplies20002561201Capitaloutlay94363012506491469Totalspecialboard12052401494911255382LegalContractualservices275200323979394655Materialandsupplies380010791812Totallegal279000325058396467EmergencyServiceDisasterAgencyContractualservices400039513951Materialandsupplies400Othercharges250Totalemergencyservicedisasteragency565039513951VillageManagerPersonalservices535581583886493547Contractualservices17750011290181856Materialandsupplies616544325795Other30629232241668Capitaloutlay185003474TotalVillageManager768375727917592866FinancePersonalservices745830727260676645Contractualservices10362000802221124901Materialandsupplies741754940830972Other150231227311287Capitaloutlay23500337641376Totalfinance189472819029271845181IIIIIIIIIIIIIIThisscheduleiscontinuedonthefollowingpages74 IVILLAGEOFGLENVIEWILLINOISSCHEDULEOFDETAILEDEXPENDITURESIBUDGETANDACTUALContinuedGENERALFUNDFortheYearEndedDecember312004Iwithcomparativeactualfor2003IOriginalandFina20042003IBudgetActualActualGENERALGOVERNMENTContinuedInformationsystemsmanagementIPersonalservices145049139133134573Contractualservices252100228222268637Materialandsupplies233003338531327Other404504148062985ICapitaloutlay179300158633125698Totalinformationsystemsmanagement640199600853623220IPersonnelandinsurancePersonalservices906269419685197Contractualservices867004111159093IMaterialandsupplies750171295Other441529445673003841363Totalpersonnelandinsurance459337047027783985948ICableTVdepartmentPersonalservices626347095061676Contractualservices465037646952IMaterialandsupplies930064047418Other1414756965094Capitaloutlay215001646115486TotalcableTVdepartment11223110327596626ILessadministrativefeesGlenviewPublicLibrary100001000012650I911CommunicationsFund450004500030000WaterworksFund555000499500529400SewerageFund773507779175530ICommuterParkingLotFund210002100042765Totaladministrativefees708350653291690345TOTALGENERALGOVERNMENT886222392733327144330IPUBLICAFETYPolicedepartmentIPersonalservices74309707585749S7027375Pension680190Contractualservices284500235324286838Materialandsupplies27568521256457145IOther1578350148444316533Capitaloutlay5800401116433Equipmentrepairandreplacement610355ITotalpolicedepartment957530595220918943667ThisscheduleiscontinuedonthefollowingpagesI75 IVILLAGEOFGLENVIEWILLINOISISCHEDULEOFDETAILEDEXPENDITURESBUDGETANDACTUALContinuedGENERALFUNDIFortheYearEndedDecember312004withcomparativeactualfor2003IOriginalandIFinal20042003BudgetActualActualPUBLICSAFETYContinuedIFiredepartmentPersonalservices762226874696027350604Pension58I665IContractualservices482061358937353659Materialandsupplies211043174424209654Other14968961391068122542Capitaloutlay497400101413112965IEquipmentrepairandreplacement526816Totalfiredepartment1030966894954449257905IPrintingContractualservices7507842389Materialandsupplies560001179422475IOther16611Totalprinting567501257841475ILessadministrativefeesGeneralFund911CommunicationsFund135000I3500090000TOTALPUBLICSAFETY198067231889511318153047IHIGHWAYSANDSTREETSDevelopmentandpublicserviceIAdministrationPersonalservices37971I392895358828Contractualservices172804668335521Materialandsupplies2100631887IEquipmentrepairandreplacement6716487112502Other200026211353ITotaladministration407807447701409091PlanningandzoningPersonalservices149532152693123347IContractualservices30730021399291810Materialandsupplies15004151429Other450034803413ITotalplanningandzoning462832370580219999IIThisscheduleiscontinuedonthefollowingpages76 IVILLAGEOFGLENVIEWILLINOISSCHEDULEOFDETAILEDEXPENDITURESBUDGETANDACTUALContinuedGENERALFUNDIFortheYearEndedDecember312004withcomparativeactualfor2003IIOriginalandFinalBudget2004Actual2003ActualIHIGHWAYSANDSTREETSContinuedDevelopmentandpublicserviceContinuedEngineeringPersonalservicesContractualservicesMaterialandsuppliesOtherEquipmentrepairandreplacementCapitaloutlay9222828460258056331329096404102314850110728344800056141350447900526575208955003033306710118229280419236602320452350262277812720112489154502131917178891642498163640283339172617442575382433223506434685327931397001157941212981275022654137843000588403760005506056561266514228781224839965521946471938643251603657149765215001465812966443004152440546150002599945058107148110652231086978348220032978643107889IITotalengineeringIPublichealthPersonalservicesContractualservicesMaterialandsuppliesEquipmentrepairandreplacementOtherIITotalpublichealthIBuildingsandgroundsPersonalservicesContractualservicesMaterialandsuppliesCapitaloutlayOtherIITotalbuildingsandgroundsBuildinginspectionPersonalservicesContractualservicesMaterialandsuppliesEquipmentrepairandreplacementOtherIIITotalbuildinginspectionTotaldevelopmentandpublicservicePublicworksAdministrationPersonalservicesContractualservicesI329698174003349001788327909415150IThisscheduleiscontinuedonthefollowingpages77I IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISSCHEDULEOFDETAILEDEXPENDITURESBUDGETANDACTUALContinuedGENERALFUNDFortheYearEndedDecember312004withcomparativeactualfor2003OriginalandFinal20042003BudgetActualActualHIGHWAYSANDSTREETSContinuedPublicworksContinuedAdministrationContinuedMaterialandsupplies1240096410153Capitaloutlay81007085268Other2300087218617Totaladministration359498370381323282OverheadPersonalservices8445801103903640836Contractualservices651006939769126Materialandsupplies10515010427132030Capitaloutlay813528784284711806Other499272994Totaloverhead182835820668471526792StreetmaintenancePersonalservices37376163831459397Contractualservices42245519Materialandsupplies536506288250388Totalstreetmaintenance371026230937515304TrafficPersonalservices12667872087162024Contractualservices10100073802185636Materialandsupplies130800118230946Other05922Totaltraffic358478264119455528StormwatermanagementPersonalservices12046912958858107Contractualservices11000131805375Materialandsupplies343003196848216Capitaloutlay2140Other1500Totalstormwatermanagement165769174736115338SnowandicecontrolPersonalservices300349247660167640Contractualservices150002323220100Thisscheduleiscontinuedonthefollowingpage78 IVILLAGEOFGLENVIEWILLINOISSCHEDULEOFDETAILEDEXPENDITURESBUDGETANDACTUALContinuedGENERALFUNDIFortheYearEndedDecember312004witbcomparativeactualfor2003IIOriginalandFinal20042003BudgetActualActualHIGHWAYSANDSTREETSContinuedPublicworksContinuedSnowandicecontrolContinuedMaterialandsupplies195000189471131084Capitaloutlay15015Totalsnowandicecontrol510349460363333839ForestryPersonalservices328160274094524015Contractualservices13600123336547Materialandsupplies11000159497273Capitaloutlay630Totalforestry352760302376538465GroundsPersonalservices79774861917182Contractualservices15830012661371964Materialandsupplies22208Other1806Totalgrounds238074212804167160Totalpublicworks418431240825633975708TOTALHIGHWAYSANDSTREETS76665127380427S7083597IIIIIIIIIIIIIISeeindependentauditorsreport79I IIIIIIIIIIIIIIIIIIINONMAJORGOVERNMENTALFUNDSForeignFireInsuranceFundtoaccountforataxoninsurancepremiumsassessedoninsurancecompanieslocatedoutsideoftheStateoflllinoisthatprovidecoveragetohomesandbusinesseswithintheVillagelllinoisMunicipalRetirementFundtoaccountfortherevenuesandexpendituresassociatedwithprovidingdisabilityandpensionbenefitsforGlenviewemployeesMotorFuelTaxFundtoaccountfortheactivitiesinvolvedwithstreetmaintenanceandconstructionFinancingisprovidedbytheVillagesshareofstategasolinetaxesStatelawrequiresthesegasolinetaxestobeusedtomaintainstreetsRefuseandRecyclingFundtoaccountforthefinancialactivityofthecommunitywiderecyclingprogramTheprogramisdesignedtolicenseandmonitorprimescavengerservicesoperatingintheresidentialareasoftheVillageTheiractivitieswillmainlybeinvolvedwiththecollectionanddispositionofrecyclableitems911CommunicationsFundtoaccountfortheactivityofthe911emergencyservicesystemFinancialactivitybeganin1990andthesystembecameoperationalin1992GNASRedevelopmentFundtoaccountfortheresourcesandexpendituresincurredinthedevelopmentofTheGlenGNASCaretakerFundtoaccountfortheresourcesandexpendituresrelatedtotheVillagescaretakingofTheGlenEscrowDepositFundtoaccountforthefundsplacedondepositwiththeVillagebybuildingcontractorsworkingwithintheVillageslimitsInterestearnedonescrowdepositsisannuallytransferredtotheCorporateFundDepositFundtoaccountformoneyondepositwiththeVillagebeingheldonatemporarybasissuchassecuritydepositsforuseoftheVillagesequipmentPoliceDepartmentSpecialAccountFundtoaccountforfundsreceivedfromthelllinoisStatePoliceofficetobeusedinvarioustypesofinvestigationsCorporatePurposeBondSeriesof1996FundThisissueintheamountof8435000wassoldtofinanceGeneralObligationBondAnticipationBondsthatmaturedin1996 2003ProjectFundtoaccountforthefundsderivedfromthe2003GeneralObligationBondissueIIIIIIIIIIIIIIIIIIICorporatePurposeBondSeriesof1998FundTheseissuesintheamountsof10000000ofSeriesAand24400000ofSeriesBweresoldtofinancethedevelopmentoftheGlenviewNavalAirBaseCorporatePurposeBondSeriesof2000FundThisissueintheamountof4970000wassoldtofinancevariouscapitalimprovementsthroughouttheVillageCorporatePurposeBondSeriesof2001FundThisissueintheamountof41800000wassoldtofmancethedevelopmentoftheformerGlenviewNavalAirStationGeneralObligationRefundingBondSeriesof2002FundThisissueintheamountof6885000wassoldtorefundtheCorporatePurposeBondSeriesof1993and1994CorporatePurposeBondSeriesof2003FundThisissueintheamountof9990000wassoldtorefundtheCorporatePurposeBondSeriesof1992and1996CorporatePurposeBondSeriesof2004FundTheseissuesintheamountof25000000and22315000weretocompleteprojectsatTheGlenandtobuildanewpolicedepartmentheadquartersCapitalProjectsFundtoaccountforrevenuesandexpendituresinvolvedwithallothercapitalimprovementsthroughouttheVillageBondFundSeriesof1993FundtoaccountfortheproceedsreceivedfromtheCorporatePurposeBondSeriesof19932000ProjectFundtoaccountforthefundsderivedfromthe2000GeneralObligationBondissue2001ProjectFundtoaccountforthefundsderivedfromthe2001GeneralObligationBondissue IIIIIIIIIIIIIIIIIIIThispageisintentionallyleftblank IVILLAGEOFGLENVIEWILLINOISCOMBININGBALANCESHEETINONMAJORGOVERNMENTALFUNDSDecember312004ISpecialRevenueIForeignIllinoisMotorRefuseIFireMunicipalFueland911InsuranceRetirementTaxRecyclingCommunicationsASSETSICash3469478662431974253936Investments10000017000002200734250000IReceivablesPropertytaxes800971Other7857141422DepositsIDuefromothergovernments103074Duefromotherfunds3700001676246368742843TOTALASSETS134694S11709712757322S2374966588201ILIABILITIESANDFUNDBALANCESLIABILITIESICashoverdraft143411Accountspayable129141617IInterestpayableAccruedpayroll452RefundabledepositsIOtherpayables45Duetootherfunds2548416762485335AdvancetootherfundsDeferredpropertytaxes800971IDeferredrevenuesTotalliabilities9699111676241291487404IFUNDBALANCESReservedforstreetimprovements2589698ReservedfordebtserviceIReservedforemployeebenefits201060Reservedforpublicsafety134694500797ReservedforcapitaldevelopmentIUnreservedundesignatedSpecialRevenueFunds2362052DebtServiceFundsCapitalProjectFundsITotalfundbalancesdeficit13469420106025896982362052500797TOTALLIABILITIESANDIFUNDBALANCES13469411709712757322S2374966588201I80 IVILLAGEOFGLENVIEWILLINOISCOMBININGBALANCESHEETContinuedINONMAJORGOVERNMENTALFUNDSDecember3I2004IDebtServiceICorporateGeneralCorporateCorporatePurposeObligationPurposePurposeIBondSeriesRefundingBondBondSeriesBondSeriesof2001Seriesof2002of2003of2004ASSETSICash3415Investments8357932482951IReceivablesPropertytaxes1386577OtherDepositsIDuefromothergovernmentsDuefromotherfundsTOTALASSETS2225785S2482951ILIABILITIESANDFUNDBALANCESLIABILITIESIOverdraftliabilitySAccountspayableIAccruedinterest23264AccruedpayrollRefundabledepositsIOtherpayables5069Duetootherfunds33847187AdvancetootherfundsDeferredpropertytaxes1386577IDeferredrevenuesTotalliabilities13919844718723264IFUNDBALANCESReservedforstreetimprovementsReservedfordebtservice83380I2459687IReservedforemployeebenefitsReservedforpublicsafetyReservedforcapitaldevelopmentIUnreservedundesignatedSpecialRevenueFundsDebtServiceFunds47187CapitalProjectFundsITotalfundbalancesdeficit833801471872459687TOTALLIABILITIESANDIFUNDBALANCES2225785S248295II82 IIIICapitalProjectsBondICapitalFund200020012003ProjectsSeriesof1993ProjectProjectProjectTotalI702992851623522339444I60771932760358200000213676982187548149993I478302478302350654453728178590115946471871003448I7787731287715530953927980161I143411I3961753004350012320352326439294278154I5114816917120019133592616141091614109I218754814946414946429766651200193004350010972954I2589698I3293488201060674732I481106628741513060397991256242844251450I1200191200194811066120019287415130603917007207I7787731287715530953927980161ISeeaccompanyingnotestofinancialstatements83 IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISSCHEDULEOFREVENUESEXPENDITURESANDCHANGESINFUNDBALANCEBUDGETANDACTUALFOREIGNFIREINSURANCEFUNDFortheYearEndedDecember312004withcomparativeactualfor2003Final20042003BudgetActualActualREVENUESForeignfireinsurancetax735006206648164Investmentincome250544239Totalrevenues737506261048403EXPENDITURESPublicsafetyContractualservices7350076515091Totalexpenditures7350076515091NETCHANGEINFUNDBALANCE2506184533312FUNDBALANCEJANUARY17284939537FUNDBALANCEDECEMBER3113469472849Seeindependentauditorsreport88 IVILLAGEOFGLENVIEWILLINOISISCHEDULEOFREVENUESEXPENDITURESANDCHANGESINFUNDBALANCEBUDGETANDACTUALIILLINOISMUNICIPALRETIREMENTFUNDIFortheYearEndedDecember312004withcomparativeactualfor2003IFinal20042003IBudgetActualActualREVENUESITaxesPropertytaxescurrent625000596662506938IPropertytaxesprior5005499Replacementtaxes200002000020000Investmentincome400033637553ITotalrevenues649500620025539990IEXPENDITURESGeneralgovernmentIContractualservices620254879106548350Totalexpenditures620254879106548350INETCHANGEINFUNDBALANCE292462590818360IFUNDBALANCEJANUARY1460141468501IFUNDBALANCEDECEMBER31201060460141IIIIISeeindependentauditorsreport89 IVILLAGEOFGLENVIEWILLINOISSCHEDULEOFREVENUESEXPENDITURESANDICHANGESINFUNDBALANCEBUDGETANDACTUALIMOTORFUELTAXFUNDFortheYearEndedDecember312004Iwithcomparativeactualfor2003IFinal20042003BudgetActualActualIREVENUESIIntergovernmental100000011943111250755Investmentincome1550111231480Totalrevenues100155012054341252235IEXPENDITURESICapitaloutlay10303009000001190300Totalexpenditures10303009000001190300IEXCESSDEFICIENCYOFREVENUESIOVEREXPENDITURES2875030543461935OTHERFINANCINGSOURCESUSESITransfersin1978750Totalotherfinancingsourcesuses1978750INETCHANGEINFUNDBALANCE28750228418461935FUNDBALANCEJANUARY1305514243579IFUNDBALANCEDECEMBER312589698305514IIIISeeindependentauditorsreportI90 IVILLAGEOFGLENVIEWILLINOISISCHEDULEOFREVENUESEXPENDITURESANDCHANGESINFUNDBALANCEBUDGETANDACTUALIREFUSEANDRECYCLINGFUNDIFortheYearEndedDecember312004withcomparativeactualfor2003IFinal20042003IBudgetActualActualREVENUESIChargesforservices110425011083821119539Investmentincome210002829325060ITotalrevenues112525011366751144599IEXPENDITURESGeneralgovernmentContractualservices104000138238144450IMaterialsandsupplies865003321828744Other750000729066717015ITotalexpenditures940500900522890209EXCESSDEFICIENCYOFREVENUESIOVEREXPENDITURES184750236153254390IOTHERFINANCINGSOURCESUSESTransfersout550000ITotalotherfinancingsourcesuses550000NETCHANGEINFUNDBALANCE365250236153254390IFUNDBALANCEJANUARY121173441862954IPriorperiodadjustment8555IFUNDBALANCEJANUARY1RESTATED21258991862954FUNDBALANCEDECEMBER3123620522117344IISeeindependentauditorsreport91 IVILLAGEOFGLENVIEWILLINOISSCHEDULEOFREVENUESEXPENDITURESANDICHANGESINFUNDBALANCEBUDGETANDACTUAL911COMMUNICATIONSFUNDIFortheYearEndedDecember312004Iwithcomparativeactualfor2003IFinal20042003BudgetActualActualIREVENUESChargesforservices585000586137615846IIntergovernmental52310Investmentincome300060003632ITotalrevenues588000644447619478EXPENDITURESIPublicsafetyPersonalservices200200212223116400IContractualservices1395006887088881Materialsandsupplies23050835Othercharges856356746968405IAdministrativefeesGeneralFund180000180000120000Capitaloutlay172184157483ITotalexpenditures800569686045394521NETCHANGEINFUNDBALANCE21256941598224957IFUNDBALANCEJANUARY1542395305842IPriorperiodadjustment11596FUNDBALANCEJANUARY1RESTATED542395317438IFUNDBALANCEDECEMBER31500797542395IIISeeindependentauditorsreportI92 IVILLAGEOFGLENVIEWILLINOISISCHEDULEOFREVENUESEXPENDITURESANDCHANGESINFUNDBALANCEBUDGETANDACTUALIGNASREDEVELOPMENTFUNDFortheYearEndedDecember312004Iwithcomparativeactualfor2003IFinal20042003BudgetActualActualIREVENUESInvestmentincome100276426IMiscellaneous100377633102Totalrevenues200380393528IEXPENDITURESGeneralgovernment202764416197351621370ITotalexpenditures202764416197351621370IEXCESSDEFICIENCYOFREVENUESOVEREXPENDITURES202744415816961617842IOTHERFINANCINGSOURCESUSESTransfersin210000015850001580000Transfersout2000200038000ITotalotherfinancingsourcesuses209800015830001542000INETCHANGEINFUNDBALANCE70556130475842FUNDBALANCEDEFICITJANUARYI7237850806IPriorperiodadjustment54270IFUNDBALANCEDEFICITJANUARY1RESTATED723783464FUNDBALANCEDEFICITDECEMBER317107472378IIISeeindependentauditorsreport93 SCHEDULEOFEXPENDITURESBUDGETANDACTUALGNASREDEVELOPMENTFUNDADMINISTRAnONDEPARTMENTIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISFortheYearEndedDecember312004withcomparativeactualfor2003Final20042003BudgetActualActualGENERALGOVERNMENTAdministrationPersonalservice797679787110696469Contractualservices790295469930491724Materialandsupplies563004465246050Othercharges326370292793342699Capitaloutlay570002525044428TOTALEXPENDITURES202764416197351621370Seeindependentauditorsreport94 IVILLAGEOFGLENVIEWILLINOISISCHEDULEOFREVENUESEXPENDITIJRESANDCHANGESINFUNDBALANCEBUDGETANDACTUALIGNASCARETAKERFUNDFortheYearEndedDecember312004Iwithcomparativeactualfor2003IFinal20042003BudgetActualActualIREVENUESInvestmentincome100328450IMiscellaneous7806210136Totalrevenues1007839010586IEXPENDITIJRESGeneralgovernment284488422161181432933ITotalexpenditures284488422161181432933IEXCESSDEFICIENCYOFREVENUESOVEREXPENDITURES284478421377281422347IOTHERFINANCINGSOURCESUSESTransfersin285000022850001345000Transfersout2000200029050ITotalotherfinancingsourcesuses284800022830001315950INETCHANGEINFUNDBALANCE3216145272106397FUNDBALANCEDEFICITJANUARY116491558518IPriorperiodadjustment43804IFUNDBALANCEDEFICITJANUARY1RESTATED20871958518FUNDBALANCEDEFICITDECEMBER3163447164915IIIISeeindependentauditorsreport95 IIIIIMIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISSCHEDULEOFEXPENDITURESBUDGETANDACTUALContinuedGNASCARETAKERFUNDFortheYearEndedDecember3I2004withcomparativeactualfor2003Final20042003BudgetActualActualGENERALGOVERNMENTContinuedWaterdistributionsystemPersonalservice755687782795611Contractualservices3760055909409Materialandsupplies2162009284957770Other61Totalwaterdistributionsystem329368176266162851SanitarysewersystemPersonalservice350846116420274Contractualservices5000Materialandsupplies3313Capitaloutlay1000Totalsanitarysewersystem400846116424587ParkingdecksystemContractualservices30000044543614189Materialandsupplies77750Cultureandrecreation14162Other18355Totalparkingdecksystem30000053734832544TOTALEXPENDITURES284488422161181432933Seeindependentauditorsreport98 IVILLAGEOFGLENVIEWILLINOISISCHEDULEOFREVENUESEXPENDITURESANDCHANGESINFUNDBALANCEBUDGETANDACTUALIESCROWDEPOSITFUNDIFortheYearEndedDecember312004withcomparativeactualfor2003IFinal20042003IBudgetActualActualREVENUESIInvestmentincome770007274761946Totalrevenues770007274761946IEXPENDITURESINoneTotalexpendituresIEXCESSDEFICIENCYOFREVENUESOVEREXPENDITURES770007274761946IOTHERFINANCINGSOURCESUSESITransfersout800006400080000Totalfinancingsourcesuses800006400080000NETCHANGEINFUNDBALANCE3000874718054IFUNDBALANCEJANUARY1127344145398FUNDBALANCEDECEMBER31136091127344IIIIISeeindependentauditorsreport99 REVENUESInvestmentincome53843609IIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISSCHEDULEOFREVENUESEXPENDITURESANDCHANGESINFUNDBALANCEBUDGETANDACTUALDEPOSITFUNDFortheYearEndedDecember312004withcomparativeactualfor2003FinalBudget2004Actual2003ActualTotalrevenues53843609EXPENDITURESNoneTotalexpendituresNETCHANGEINFUNDBALANCE53843609FUNDBALANCEJANUARY15943655827FUNDBALANCEDECEMBER316482059436Seeindependentauditorsreport100 IVILLAGEOFGLENVIEWILLINOISISCHEDULEOFREVENUESEXPENDfTIJRESANDCHANGESINFUNDBALANCEBUDGETANDACTUALIPOLICEDEPARTMENTSPECIALACCOUNTFUNDIFortheYearEndedDecember312004withcomparativeactualfor2003IFinal20042003IBudgetActualActualREVENUESIFinesandforfeitures600024602Investmentincome100155110Miscellaneous2501963510926ITotalrevenues63501979035638IEXPENDITURESPublicsafetyIOthercharges75001516515406Totalexpenditures75001516515406IEXCESSDEFICIENCYOFREVENUESOVEREXPENDITURES1150462520232IOTHERFINANCINGSOURCESUSESISaleofcapitalassets200012801Transfersout24602ITotalotherfinancingsourcesuses200011801NETCHANGEINFUNDBALANCE850717620232IFUNDBALANCEJANUARY14641726185IFUNDBALANCEDECEMBER313924146417IIISeeindependentauditorsreport101 Final20042003BudgetActualActualREVENUESInvestmentincome340Totalrevenues340EXPENDITURESDebtservicePrincipal810000Interestandfiscalcharges151696Totalexpenditures961696EXCESSDEFICIENCYOFREVENUESOVEREXPENDITURES3961656OTHERFINANCINGSOURCESUSESTransfersin393947993Transfersout58Totalotherfinancingsourcesuses335947993NETCHANGEINFUNDBALANCE33813663FUNDBALANCEDEFICITJANUARY133813325FUNDBALANCEDEFICITDECEMBER31338IIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISSCHEDULEOFREVENUESEXPENDITURESANDCHANGESINFUNDBALANCEBUDGETANDACTUALCORPORATEPURPOSEBONDSERIESOF1996FUNDFortheYearEndedDecember312004withcomparativeactualfor2003Seeindependentauditorsreport102 IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISSCHEDULEOFREVENUESEXPENDITURESANDCHANGESINFUNDBALANCEBUDGETANDACTUALCORPORATEPURPOSEBONDSERIESOF1998FUNDFortheYearEndedDecember312004withcomparativeactualfor2003FinalBudgetREVENUESInvestmentincomeTotalrevenuesEXPENDITURESDebtservicePrincipalInterestandfiscalchargesTotalexpendituresEXCESSDEFICIENCYOFREVENUESOVEREXPENDITURESOTHERFINANCINGSOURCESUSESTransfersinTransfersoutTotalotherfinancingsourcesusesNETCHANGEINFUNDBALANCEFUNDBALANCEJANUARY1FUNDBALANCEDECEMBER31Seeindependentauditorsreport1032004Actual29292967056705667666762003Actual95951450000144177628917762891681288598828859885693123696676 IVILLAGEOFGLENVIEWILLINOISSCHEDULEOFREVENUESEXPENDITURESANDICHANGESINFUNDBALANCEBUDGETANDACTUALCORPORATEPURPOSEBONDSERIESOF2000FUNDIFortheYearEndedDecember312004Iwithcomparativeactualfor2003IFinal20042003BudgetActualActualIREVENUESTaxesIProperty219335209390Investrnentincome500278118ITotalrevenues219835209668118EXPENDITURESIDebtserviceInterestandfiscalcharges220935219935219935ITotalexpenditures220935219935219935IEXCESSDEFICIENCYOFREVENUESOVEREXPENDITURES110010267219817IOTHERFINANCINGSOURCESUSESTransfersin219335ITotalotherfinancingsourcesuses219335NETCHANGEINFUNDBALANCE110010267482IFUNDBALANCEJANUARY160046486IFUNDBALANCEDEFICITDECEMBER3142636004IIISeeindependentauditorsreportI104 IVILLAGEOFGLENVIEWILLINOISISCHEDULEOFREVENUESEXPENDITURESANDCHANGESINFUNDBALANCEBUDGETANDACTUALICORPORATEPURPOSEBONDSERIESOF2001FUNDIFortheYearEndedDecember312004withcomparativeactualfor2003IFinal20042003IBudgetActualActualREVENUESIInvestmentincome18321Totalrevenues18321IEXPENDITURESIDebtservicePrincipal500000Interestandfiscalcharges1694850ITotalexpenditures2194850IEXCESSDEFICIENCYOFREVENUESOVEREXPENDITURES182194529IOTHERFINANCINGSOURCESUSESTransfersin2137125ITransfersout3988Totalotherfinancingsourcesuses39882137125INETCHANGEINFUNDBALANCE397057404IFUNDBALANCEJANUARY1397061374FUNDBALANCEDECEMBER313970IaIISeeindependentauditorsreport105 IVILLAGEOFGLENVIEWILLINOISISCHEDULEOFREVENUESEXPENDITURESANDCHANGESINFUNDBALANCEBUDGETANDACTUALICORPORATEPURPOSEBONDSERIESOF2003FUNDIFortheYearEndedDecember312004withcomparativeactualfro2003IFinal20042003IBudgetActualActualREVENUESITaxesProperty12290Investmentincome20013340ITotalrevenues1249013340IEXPENDITURESDebtserviceIPrincipal1195000185000Interestandfiscalcharges3196701200105213ITotalexpenditures15146701200290213IEXCESSDEFICIENCYOFREVENUESOVEREXPENDITURES15021801187289873IOTHERFINANCINGSOURCESUSESBondsissued5015000Paymenttoescrowagent4767130ITransfersin1522080197675Transfersout2483199189ITotalotherfinancingsourcesuses15220802483246356INETCHANGEINFUNDBALANCE19900367043517FUNDBALANCEDEFICITJANUARY143517IFUNDBALANCEDEFICITDECEMBER314718743517IISeeindependentauditorsreport107 IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISSCHEDULEOFREVENUESEXPENDITURESANDCHANGESINFUNDBALANCEBUDGETANDACTUALBONDFUNDSERIESOF1993FortheYearEndedDecember312004withcomparativeactualfor2003Final20042003BudgetActualActualREVENUESInvestmentincome5500124319819Miscellaneous3900Totalrevenues5500124323719EXPENDITURESCapitaloutlay11580006665811051466Totalexpenditures11580006665811051466NETCHANGEINFUNDBALANCE11525006653381027747FUNDBALANCEJANUARY15453191573066FUNDBALANCEDEFICITDECEMBER31120019545319Seeindependentauditorsreport109 Final20042003BudgetActualActualREVENUESInvestmentincome5050043611130860Totalrevenues5050043611130860EXPENDITURESCapitaloutlay325000065713564800Totalexpenditures325000065713564800NETCHANGEINFUNDBALANCE319950061352466060FUNDBALANCEJANUARY135280683462008Priorperiodadjustment40393FUNDBALANCEJANUARY1RESTATED34876753462008FUNDBALANCEDECEMBER3128741513528068IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISSCHEDULEOFREVENUESEXPENDITURESANDCHANGESINFUNDBALANCEBUDGETANDACTUAL2000PROJECTFUNDFortheYearEndedDecember312004withcomparativeactualfor2003Seeindependentauditorsreport110 IVILLAGEOFGLENVIEWILLINOISISCHEDULEOFREVENUESEXPENDITURESANDCHANGESINFUNDBALANCEBUDGETANDACTUALI2001PROJECTFUNDIFortheYearEndedDecember312004withcomparativetotalsfor2003IFinal20042003IBudgetActualActualREVENUESIInvestmentincome260009893288249Totalrevenues260009893288249IEXPENDITURESINoneTotalexpendituresIEXCESSDEFICIENCYOFREVENUESOVEREXPENDITURES260009893288249IOTHERFINANCINGSOURCESUSESITransfersout5530000463508617803419Totalotherfinancingsourcesuses5530000463508617803419INETCHANGEINFUNDBALANCE5504000462519317515170IFUNDBALANCEJANUARYI462519322140363FUNDBALANCEDECEMBER314625193IIIIISeeindependentauditorsreport111 IVILLAGEOFGLENVIEWILLINOISSCHEDULEOFREVENUESEXPENDITURESANDICHANGESINFUNDBALANCEBUDGETANDACTUAL2003PROJECTFUNDIFortheYearEndedDecember312004Iwithcomparativeactualsfor2003IFinal20042003BudgetActualActualIREVENUESInvestmentincome150026727686ITotalrevenues150026727686IEXPENDITURESCapitaloutlay250000759400ITotalexpenditures250000759400EXCESSDEFICIENCYOFREVENUESIOVEREXPENDITURES2485002672751714OTHERFINANCINGSOURCESUSESIBondsissued1135000IDiscountonbondsissued79919Totalotherfinancingsourcesuses1055081INETCHANGEINFUNDBALANCE2485002672303367FUNDBALANCEJANUARY1303367IFUNDBALANCEDECEMBER31306039303367IIIISeeindependentauditorsreportI112 IIIIIIIIIIIIIIIIIIIMAJORENTERPRISEFUNDSWaterworksFundtoaccountfortheprovisionofwaterservicetotheresidentsofGlenviewAllactivitynecessarytoprovidesuchservicesisaccountedforinthisfundincludingbutnotlimitedtoadministrationDirectorofPublicWorksoperationmaintenancefmancingandrelateddebtserviceandbillingandcollectionNorthMaineWaterandSewerFundtoaccountforallfinancialactivityrelatedtotheVillageprovidingwaterandsewerservicetoanunincorporatedareasouthwestoftheVillageThisareawasformerlyservedbytheNorthSuburbanPublicUtilitiesCompany Final20042003BudgetActualActualOPERATINGREVENUESChargesforservicesWatercharges750000068836918244809Watermeterrepaircharges1500448Waterconnectioncharges105000208590121597Watermetersandremotereaders7500012529478157MiscellaneousLatepaymentfees600008973482313Watermetersupplies86929140398Waterforconstruction250003615336436Recaptureagreements10000106551801Other25000524833776Totaloperatingrevenues780150074462948739735OPERATINGEXPENSESAdministration2215692837430624164OperationsSupplyandmetering332700729370123031155Pumpingstationeast311787228313208499Pumpingstationwest224506124836146468Distributionsystem28851211551434922805Overhead10213301119476478516Depreciation715784748533Totaloperatingexpenses998544375142856160140OPERATINGINCOMELOSS2183943679912579595NONOPERATINGREVENUESEXPENSESIntergovernmental1165984Investmentincome875006028055241Totalnonoperatingrevenuesexpenses87500602801221225IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISSCHEDULEOFREVENUESEXPENSESANDCHANGESINNETASSETSBUDGETANDACTUALWATERWORKSFUNDFortheYearEndedDecember312004withcomparativeactualfor2003Thisscheduleiscontinuedonthefollowingpage113 IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISSCHEDULEOFREVENUESEXPENSESANDCHANGESINNETASSETSBUDGETANDACTUALWATERWORKSFUNDFortheYearEndedDecember312004withcomparativeactualfor2003FinalBudget2004Actual2003ActualNETINCOMELOSSBEFORECONTRIBUTIONSANDTRANSFERS209644377113800820TRANSFERSINOUTTransfersinTransfersout15000027677991941494432122323991941494432197412010690523063883935811974120106905269996930780983184390751800819964193928980164280810142887325930780983TotaltransfersinoutCHANGEINNETASSETSBEFORECONTRIBUTIONSContributionsCHANGEINNETASSETSNETASSETSJANUARY1PriorperiodadjustmentNETASSETSJANUARY1RESTATEDNETASSETSDECEMBER31Seeindependentauditorsreport114 VILLAGEOFGLENVIEWILLINOISSCHEDULEOFCAPITALASSETSANDDEPRECIATIONWATERWORKSFUNDFortheYearEndedDecember312004 IVILLAGEOFGLENVIEWILLINOISISCHEDULEOFREVENUESEXPENSESANDCHANGESINNETASSETSBUDGETANDACTUALNORTHMAINEWATERANDSEWERFUNDIFortheYearEndedDecember312004withcomparativeactualfor2003IFinal20042003IBudgetActualActualOPERATINGREVENUESChargesforservicesIWatercharges572650051830716339863Sewercharges350000299185375585MiscellaneousINewwatermeters5329630Latepaymentfees300004550679349Other41631925ITotaloperatingrevenues610650055324576806352OPERATINGEXPENSESIAdministration601232716353436062OperationsSupplyandmetering380830832409873417802Pumpingstation88462159587134694IDistributionsystem395892250366397911Collectionsystem1304896117065609Depreciationandamortization261193201307ITotaloperatingexpenses502438346896564653385OPERATINGINCOME108211784280I2152967INONOPERATINGREVENUESEXPENSESInvestmentincome175001630416021Interestexpense375942331386389383ITotalnonoperatingrevenuesexpenses358442315082373362INETINCOMEBEFORETRANSFERS7236755277191779605TRANSFERSINOUTTransfersin87231ITransfersout544500544500573500Totaltransfersinout544500544500486269ICHANGEINNETASSETS179175167811293336NETASSETSJANUARY11057360235976IPriorperiodadjustment1405105INETASSETSDEFICITJANUARYIRESTATED347745235976NETASSETSDEFICITDECEMBER31364526I057360ISeeindependentauditorsreport118 IVILLAGEOFGLENVillWILLINOISSCHEDULEOFOPERATINGEXPENSESIBUDGETANDACTUALNORTHMAINEWATERANDSEWERFUNDFortheYearEndedDecember312004Iwithcomparativeactna1for2003Final20042003IBudgetActualActna1ADMINISTRATlONIPersonalservices19440433673776278Contractualservices1060006631261337Materialandsupplies125005553941348IBondandnoteprincipal391840416839404851Capitaloutlay131437057Other2883282564512200429930721133192840913ILessnonoperatingexpensesBondandnoteprincipalpaid391840416839404851Totaladministration601232716353436062IOPERATIONSSupplyandmeteringIPersonalservices816089909980773Contractualservices365670030937893219570Materialandsupplies10000534223862Capitaloutlay600004275793597ITotalsupplyandmetering380830832409873417802PumpingstationIPersonalservices2136211438292762Contractualservices540003526529563Materialandsupplies310023902347IOther10000755010022Totalpumpingstation88462159587134694DistributionsystemIPersonalservices1338928323152438Contractualservices7400082516102577Materialandsupplies500003099932737ICapitaloutlay135000127636108526Other30008921633Totaldistributionsystem395892250366397911ICollectionsystemPersonalservices308893091414413Contractualservices250002513836180IMaterialandsupplies9600511811714Capitaloutlay650003302Totalcollectionsystem1304896117065609ITotaloperations442315137121104016016TOTALOPERATINGEXPENSESIEXCLUDINGDEPRECIATION502438344284634452078SeeindependentauditorsreportI119 VILLAGEOFGLENVIEWILLINOISSCHEDULEOFCAPITALASSETSANDDEPRECIATIONNORTHMAINEWATERANDSEWERFUNDFortheYearEndedDecember312004AssetsAccumulatedDepreciationNetBalancesBalancesBalancesBalancesAssetJanuary1AdditionsRetirementsDecember31JanuaryIProvisionsRetirementsDecember31ValueLandandlandimprovements235000235000235000Waterstoragefacility24405824405827055421831273212785Watcrmains515931451593148361691289839651524194162Sewermains13330601333060216280333262496061083454Machineryandequipment191338191338190764574191338Automotiveequipment2319952319951894732441521388818107Officefurnitureandfixtures1063610636103462901063674054017405401147008719180616618935743508Seeindependentauditorsreport120 IIIIIIIIIIIIIIIIIIINOlTMAJORENTERPRISEFUNDSWholesaleWaterFundtoaccountfortheprovisionofwaterservicetotheIllinoisAmericanWaterCompanyenablingtheprivateutilitytoreceiveLakeMichiganwaterSewerageFundtoaccountforthefundsnecessarytoprovidesanitarysewerservicetobothincorporatedandunincorporatedVillageofGlenviewcustomersCommuterParkingLotFundtoaccountfortheactivityinvolvedwithbutnotlimitedtotheadministrationFinanceDirectorsaleofpermitsandmaintenanceofthecommuterparkingfacilitieswithintheVillage IVILLAGEOFGLENVIEWILLINOISCOMBININGSTATEMENTOFNETASSETSINONMAJORENTERPRISEFUNDSDecember3I2004IWbolesaleCommuterIWaterSewerageParkingLotTotalCURRENTASSETSICash171028591464141568904060Investments67500011400002500002065000ReceivablesIAccountsnet26951547452066910810945Advancetootherfunds116972116972Duefromotherfunds1313IDeferredbondissuancecosts4189041890Totalcurrentassets115743323229694584783938880ICAPITALASSETSCapitalassetsnotbeingdepreciated10000001000000Capitalassetsbeingdepreciated2512633856121021659211290435IAccumulateddepreciation74009124865741989603425625Netcapitalassets1772542607463610176328864810ITotalassets29299758397605147611012803690CURRENTLIABILITIESIAccountspayable689252185670865785AccruedpayToll4186511231192Interestpayable39803980IDuetootherfunds2681660523928893660948Deferredrevenues690000690000Refundabledeposits30003000ICurrentportionofgeneralobligationbondspayable185000185000Totalcurrentliabilities2231061348075387241609905INONCURRENTLIABILITIESGeneralobligationbondspayable14300001430000ITotalnoncurrentliabilities14300001430000Totalliabilities16531061348075387243039905I1ETASSETSIInvestedincapitalassetsnetofrelateddebt157542607463610176327249810Umestricted11193279748944197542513975TOTALNETASSETS1276869704953014373869763785ISeeaccompanyingnotestofInancialstatementsI121 IVILLAGEOFGLENVIEWilLINOISICOMBININGSTATEMENTOFREVENUESEXPENSESANDCHANGESINNETASSETSINONMAJORENTERPRISEFUNDSFor1heYearEndedDecember312004IWholesaleCommuterIWaterSewerageParkingLotTotalOPERATINGREVENUESIChargesforservicesWaterandsewercharges165533910049732660312Waterandsewerconnectioncharges2003020030IParkingdecalsandmeterfees364553364553Latepaymentfees2992029920Miscellaneous1010010100ITotaloperatingrevenues165533910549233746533084915OPERATINGEXPENSESIAdministration422703190441613144Operations8254053471391367351309279Depreciationandamortization678171518948132227843ITotaloperatingexpenses8932229217363353082150266IOPERATINGINCOME76211713318739345934649NONOPERATINGREVENUESEXPENSESInvestmentincome96377125445421216IInterestandfiscalcharges4202042020Totalnonoperatingrevenuesexpenses323837125445420804INETINCOMEBEFORETRANSFERS72973414031243799913845ITRANSFERSINOUTTransfersout3065008266314766ITotaltransfersinout3065008266314766CHANGEINNETASSETS42323413204643799599079INETASSETSJANUARY1853635734248413935879589706IPriorperiodadjustment425000425000NETASSETSJANUARY1RESTATED853635691748413935879164706INETASSETSDECEMBER311276869704953014373869763785ISeeaccompanyingnotestomancialstatements122 IVILLAGEOFGLENVIEWILLINOISCOMBININGSTATEMENTOFCASHFLOWSINONMAJORENTERPRISEFUNDSFortheYearEndedDecember32004IWhoesaleCommuterIWaterSewerageParkingLotTotalCASHFLOWSFROMOPERATINGACTIVITIESReceiptsfromcustomersandusers152269412720257756803570399IReceiptsfrominterfundservices480195480195Paymentstosuppliers830845503512707821652217Paymentstoemployees362619222942975266830INetcashfromoperatingactivities659984100964046923213547CASHFLOWSFROMNONCAPITALIFINANCINGACTIVITIESnterfundtransfers3065008266314766Netcashfromnoncapitalfmancingactivities3065008266314766ICASHFLOWSFROMCAPITALANDRELATEDFINANCINGACTIVITIESPrincipalpayments180000180000IInterestandfiscalcharges5064350643Netcashfromcapitalandrelatedfinancingactivities230643230643CASHFLOWSFROMINVESTINGACTIVITIESIInterestreceived96377125445121213PurchaseofcapitalassetsOOOOOOOOOOOOISaleofinvestments592287592287Purchaseofinvestments2500009400001190000Netcashfrominvestingactivities2403639328754032621576500INETINCREASEDECREASEINCASHANDCASHEQUIVALENTS11752268499586619638CASHANDCASHEQUIVALENTSJANUARY28855052296582907894422ICASHANDCASHEQUIVALENTSDECEMBER311702859146441568904060RECONCILIATIONOFOPERATINGINCOMETONETICASHFLOWSFROMOPERATINGACTlVTIESOperatingincome762171338739345934649IAdjustmentstoreconcileoperatingincometonetcashfromoperatingactivitiesDepreciationandamortization6781758948132227843ChangesincurrentassetsandliabilitiesIAccountsreceivable13264547546940102207093Duefromotherfunds22Otherassets4595779058249Accountspayable63754348402982922IAccruedpayroll3675466123570Deferredrevenues69000015299674701Duetootherfunds26864809528893478118INETCASHFROMOPERATINGACTIVITIES6599841009640469232131547SeeaccompanyingnotestofinancialstatementsI123 IVILLAGEOFGLENVIEWILLINOISISCHEDULEOFREVENUESEXPENSESANDCHANGESINNETASSETSBUDGETANDACTUALIWHOLESALEWATERFUNDIFortheYearEndedDecember312004withcomparativeactualfor2003IFinal20042003IBudgetActualActualOPERATINGREVENUESIWatersales167500016553391709155OPERATINGEXPENSESIOperationsSupplyandmetering1207214725998825854IPumpingstation917328386083852Distributionsystem15547839Depreciationandamortization6781766995ITotaloperatingexpenses1298946893222977540IOPERATINGINCOME376054762117731615NONOPERATINGREVENUESEXPENSESIInvestmentincome1100096378178Interestexpense2306434202060533ITotalnonoperatingrevenuesexpenses2196433238352355INETINCOMEBEFORETRANSFERS156411729734679260TRANSFERSINOUTITransfersin30000Transfersout106500306500307200ITotaltransfersinout106500306500277200CHANGEINNETASSETS49911423234402060INETASSETSJANUARY1853635451575INETASSETSDECEMBER311276869853635ISeeindependentauditorsreport124 IVILLAGEOFGLENVIEWILLINOISSCHEDULEOFOPERATINGEXPENSESIBUDGETANDACTUALIWHOLESALEWATERFUNDFortheYearEndedDecember312004Iwithcomparativeactualfor2003IFinal20042003BudgetActualActualIOPERATIONSISupplyandmeteringContractualservices891120713485814180Materialandsupplies1000ICapitaloutlay302750633268Other12344124508406Totalsupplyandmetering1207214725998825854IPumpingstationIPersonalservices185321710215472Contractualservices1200805923IMaterialandsupplies15002703470Othercharges705006325066987Totalpumpingstation917328386083852IDistributionsystemIPersonalservices15547839Bondprincipal180000I18000015547839Lessnonoperatingexpenses180000ITotaldistributionsystem15547839TOTALOPERATINGEXPENSESIEXCLUDINGDEPRECIAnON1298946825405910545IISeeindependentauditorsreportI125 VILLAGEOFGLENVIEWILLINOISSCHEDULEOFCAPITALASSETSANDDEPRECIATIONWHOLESALEWATERFUNDFortheYearEndedDecember312004BalancesJanuaryIAdditionsRetirementsBalancesDecember31AccumulatedDepreciationBalancesJanuaryIBalancesProvisionsRetirementsDecember31NetAssetValueAssetsCitizensutilitytransmissionline25126332512633677275628167400911772542Seeindependentauditorsreport126 IVilLAGEOFGLENVIEWllLINOISSCHEDULEOFREVENUESEXPENSESANDCHANGESINETASSETSBUDGETMTDACTUALSEWERAGEFUNDFortheYearEndedDecember312004Iwithcomparativeactualfor2003IFinal20042003BudgetActualActualIOPERATINGREVENUESChargesforservicesILeasefees10000Sewercharges99000010049731238645Sewerconnectioncharges15000200309020Latepaymentfees10000299204733ITotalopemtingrevenues102500010549231252398OPERATINGEXPENSESIAdministration575792422703150180OpemtionsPumpingstation13292811067183414ICollection298303236468325794Depreciation151894151703Totalopemtingexpenses1007023921736711091IOPERATINGINCOME17977133187541307NONOPERATINGREVENUESEXPENSESIInvestmentincome650071253641Totalnonopemtingrevenuesexpenses650071253641INETINCOMEBEFORETRANSFERSANDCONTRIBllTIONS24477140312544948ITRANSFERSOUTTransferout200008266350562ITotaltransfersout200008266350562CHANGEINNETASSETSBEFORECONTRIBUTIONS4477132046194386IContributions775617CHANGEINTASSETS4477132046970003INETASSETSJANUARY173424843879344Priorperiodadjustment4250002493137INETASSETSJMLTARYIRESTATED69174846372481INETASSETSDECEMBER3170495307342484SeeindependentauditorsreportI127 IVILLAGEOFGLENVIEWILLINOISISCHEDULEOFOPERATINGEXPENSESBUDGETANDACTUALISEWERAGEFUNDFortheYearEndedDecember312004Iwithcomparativeactualfor2003IFinal20042003BudgetActualActualIADMINISTRATIONOther1623788478052IInsurance522055220543680Maintenanceandrepair43000028551322918AdministrativefeesGeneralFund773507613875530ITotaladministration575792422703150180IOPERAnONSPumpingstationGeneralIPersonalservices206741930616332Contractualservices50001203Municipalequipmentrepair461793102236210ICapitalequipmentreplacement437004370020276Totalgeneral1155539402874021IHeatherfieldliftstationPersonalservices6775764516389IContractualservices600072001125Materialandsupplies460017983979ITotalHeatherfieldliftstation173751664321493Totalpumpingstation13292811067195514ICollectionsystemPersonalservices208503175311276306IContractualservices300002121137365Materialandsupplies29300994710442Other30500299991681ITotalcollectionsystem298303236468325794ITOTALOPERATINGEXPENSES1007023769842571488ISeeindependentauditorsreport128 VILLAGEOFGLENVIEWILLINOISSCHEDULEOFCAPITALASSETSANDDEPRECIATIONSEWERAGEFUNDFortheYearEndedDecember312004AssetsAccumulatedDepreciationNetBalancesBalancesBalancesBalancesAssetJanuaryIAdditionsRetirementsDecember31January1ProvisionsRetirementsDecember31ValueLiftstation5121325121321685431024378786333346Equipmentandvehicles1931441931441909872157193144Sewermains785593478559341975503949421146445742908562108561210233468015189424865746074636Seeindependentauditorsreport129 IVILLAGEOFGLENVIEWILLINOISISCHEDULEOFREVENUESEXPENSESANDCHANGESINNETASSETSBUDGETANDACTUALICOMMUTERPARKINGLOTFUNDFortheYearEndedDecember312004Iwithcomparativeactualfor2003IFinal20042003BudgetActualActualIOPERATINGREVENUESChargesforservicesMeterfees700008694878362IParkingdecals217000277605216603Miscellaneous6000101005752ITotaloperatingrevenues293000374653300717OPERATINGEXPENSESIAdministration226409190441177965Operations15309013673555868Depreciation81328132ITotaloperatingexpenses379499335308241965IOPERATINGINCOMELOSS864993934558752NONOPERATINGREVENUESEXPENSESIInvestmentincome3000445410162Totalnonnoperatingrevenuesexpenses3000445410162INETINCOMELOSSBEFORETRANSFERS834994379968914ITRANSFERSINTransfersin20980ITotaltransfersin20980CHANGEINNETASSETSBEFORECONTRIBUTIONS834994379989894IContributions967931ICHANGEINNETASSETS83499437991057825NETASSETSJANUARY11393587335762INETASSETSDECEMBER31S14373861393587ISeeindependentauditorsreport130 Final20042003BudgetActualActualADMINISTRATIONPersonalservices167642392316720Contractualservices948007775061308Materialandsupplies1000080568399Othercharges838455971248773AdministrativefeesGeneralFund210002100042765Totaladministration226409190441177965OPERATIONSPersonalservices14390215492506Contractualservices9695010087450032Materialandsupplies41750143123330Totaloperations15309013673555868TOTALOPERATINGEXPENSESEXCLUDINGDEPRECIATION379499327176233833IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISSCHEDULEOFOPERATINGEXPENSESBUDGETANDACTUALCOMMUTERPARKINGLOTFUNDFortheYearEndedDecember312004withcomparativeactualfor2003Seeindependentauditorsreport131 VILLAGEOFGLENVIEWILLINOISSCHEDULEOFCAPITALASSETSANDDEPRECIATIONCOMMUTERPARKINGLOTFUNDFortheYearEndedDecember312004LeaseholdimprovementsEquipmentandvehiclesConstructioninprogressAssetsAccumulatedDepreciationNetBalancesBalancesBalancesBalancesAssetJanuary1AdditionsRetirementsDecember31JanualY1ProvisionsRetirementsDecember31Value203309203309177545813218567717632132831328313283132831000000100000010000002165921000000121659219082881321989601017632Seeindependentauditorsreport132 IIIIIIIIIIIIIIIIIIIINTERNALSERVICEFUNDSMunicipalEquipmentRepairFundtoaccountforthecostsofrepairingandmaintainingallvehiclesoftheVillageThesecostsincludelabormaterialfuelandfixedoverheadoftheVillagesrepairfacilityInsuranceFundtoaccountforthefinancialactivityoftheVillagesentireinsuranceprogramInadditiontoconventionalprimaryinsurancetheVillageisamemberoftheHighLevelExcessLiabilityPoolHELPwhichprovidesexcessliabilitycoverageAlsotheVillageprovideshealthandlifeinsurancebyparticipatingintheIntergovernmentalPersonnelBenefitCooperativeIPBCCapitalEquipmentReplacementFundtoaccountforthefundsannuallysetasidefortheeventualreplacementofcertaincapitalequipment IVILLAGEOFGLENVIEWILLINOISICOMBININGSTATEMENTOFREVENUESEXPENSESANDCHANGESINNETASSETSIINTERNALSERVICEFUNDSFortheYearEndedDecember312004IMunicipalCapitalIEquipmentEquipmentRepairInsuranceReplacementTotalIOPERATINGREVENUESChargesforservices1137836540535519764098519600Miscellaneous11585267535044127649ITotaloperatingrevenues1253688541210819814538647249OPERATINGEXPENSESIOperations130506353961946701257Depreciation79947994Capitaloutlay13807381380738ITotaloperatingexpenses1313057539619413807388089989IOPERATINGINCOMELOSS5936915914600715557260NONOPERATINGREVENUESEXPENSESIInvestmentincome568357934141591500093Totalnonoperatingrevenuesexpenses568357934141591500093ICHANGEINNETASSETS588013738487423061057353NETASSETSDEFICITJANUARYI1037893218414892888712043512IPriorperiodadjustment325754325754INETASSETSJANUARY1DEFICITRESTATED1037893544168892888712369266INETASSETSDEFICITDECEMBER311625903918016967119313426619IIIISeeaccompanyingnotestofinancialstatements134 IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISCOMBININGSTATEMENTOFCASHFLOWSContinuedINTERNALSERVICEFUNDSFortheYearEndedDecember312004MunicipalCapitalEquipmentEquipmentRepairInsuranceReplacementTotalRECONCILIATIONOFOPERATINGINCOMETONETCASHFROMOPERATINGACTIVITIESOperatingincome5936915914600715557260AdjustmentstoreconcileoperatingincometonetcashfromoperatingactivitiesDepreciationandamortization79947994ChangesinassetsandliabilitiesAccountsreceivable11912139210520Deposits330291330291Prepaidexpenses134190134190Duefromotherfunds83812548533866InventoryIll252111252Accountspayable9663669163506018Accruedpayroll2424Deferredrevenues8144781447Claimspayable128358128358Otherpayables51545154Duetootherfunds325503253223153353978NETCASHFROMOPERATINGACTIVITIES152270404912587518334876Seeaccompanyingnotestofinancialstatements136 VILLAGEOFGLENVIEWILLINOISSCHEDULEOFCAPITALASSETSANDDEPRECIATIONMUNICIPALEQUIPMENTREPAIRFUNDFortheYearEndedDecember312004AssetsAccumulatedDepreciationBalancesJanuary1BalancesAdditionsRetirementsDecember31BalancesJanuary1BalancesProvisionsRetirementsDecember31NetAssetValueAutomotiveequipment55958559581998579942297227979Seeindependentauditorsreport139 IVILLAGEOFGLENVIEWILLINOISISCHEDULEOFREVENUESEXPENSESANDCHANGESINNETASSETSBUDGETANDACTUALIINSURANCEFUNDFortheYearEndedDecember312004Iwithcomparativeactualfor2003IFinal2003BudgetActualActualIREVENUESIChargesforservicesFundcharges541309854053554602504Miscellaneous6753ITotalrevenues541309854121084602504IEXPENSESOperationsContractualprofessionalservices15000170813037IHealthandlifeinsurance500000512686540223Dentalinsurance186000158765162679Excessliability130000142888128974IUnemploymentbenefits30000190174458Generalinsuranceprogram419699540124323464563PTMpolicy110001150015800IPropertycasualtyclaims500000447082732920Workerscompensationinsurance1300007474364897ITotalexpenses569899553961945117551OPERATINGINCOMELOSS28589715914515047INONOPERATINGREVENUESInvestmentincome36500357934195390ICHANGEINNETASSETS249397373848319657INETASSETSJANUARY132184143538071IPriorperiodadjustment325754NETASSETSJANUARY1RESTATED35441683538071INETASSETSDECEMBER3139180163218414ISeeindependentauditorsreport140 IVILLAGEOFGLENVIEWILLINOISISCHEDULEOFREVENUESEXPENSESANDCHANGESINNETASSETSBUDGETANDACTUALICAPITALEQUIPMENTREPLACEMENTFUNDFortheYearEndedDecember312004Iwithcomparativeactualfor2003IFinal20042003BudgetActualActualIREVENUESIChargesforservices179314919764091782768MiscellaneousAutoreimbursements150050441500ITotalrevenues179464919814531784268EXPENSESICapitaloutlay159770013807381655867ITotalexpenses159770013807381655867OPERATINGINCOMELOSS196949600715128401INONOPERATINGREVENUESIInvestmentincome635500141591141787Totalnonoperatingrevenues635500141591141787ICHANGEINNETASSETS832449742306270188INETASSETSJANUARY189288878658699NETASSETSDECEMBER3196711938928887IIIISeeindependentauditorsreportI141 IIIIIIIIIIIIIIIIIIIFIDUCIARYFUNDSPensionTrustPolicePensionFundtoaccountfortheresourcesnecessarytoprovidedisabilityandretirementbenefitstopersonneloftheGlenviewPoliceDepartmentFirefightersPensionFundtoaccountfortheresourcesnecessarytoprovidedisabilityandretirementbenefitstopersonneloftheGlenviewFireDepartmentAgencySpecialServiceAreasFundtoaccountforvariousspecialserviceareabondissues IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISCOMBININGSTATEME1lOFPLANNETASSETSPENSIONTRUSTFUNDSDecember312004PoliceFirefightersPensionPensionTotalsASSETSCashandcashequivalents6617873794731041260InvestmentsUSGovernmentandagencyobligations248711864210301466974200Mutualfunds10985225247615613461381Insurancecontracts994711994711Totalinvestments358564114557388181430292Duefromotherfunds17501750Totalassets365199484595335482473302LIABILITIESAccountspayable45004500Duetootherfunds21662166Totalliabilities450021666666NETASSETSHELDINTRUSTFORPENSIONBENEFITS365154484595118882466636Seeaccompanyingnotestofinancialstatements142 IVILLAGEOFGLENVIEWILLINOISICOMBININGSTATEMENTOFCHANGESINPLANNETASSETSPENSIONTRUSTFUNDSIFortheYearEndedDecember312004IIPoliceFirefightersPensionPensionTotalIADDITIONSContributionsemployer7589547159941474948IContributionsplanmembers5415385182521059790Contributionsmiscellaneous100100ITotalcontributions130049212343462534838InvestmentincomeINetappreciationdepreciationinfairvalueofinvestments84795578743860517IInterestearnedoninvestments162381924348874058706Totalinvestmentincome247177416474494119223ILessinvestmentexpense385251306751592Netinvestmentincome243324916343824067631ITotaladditions373374128687286602469IDEDUCTIONSPensionsandrefunds141242221076023520024ITotaldeductions141242221076023520024INETINCREASE23213197611263082445INETASSETSHELDINTRUSTFORPENSIONBENEFITSIJanuary1341941294519006279384191IDecember31365154484595118882466636ISeeaccompanyingnotestofinancialstatements143 IVILLAGEOFGLENVIEWILLINOISISCHEDULEOFCHANGESINPLANNETASSETSBUDGETANDACTUALIFIREFIGHTERSPENSIONFUNDFortheYearEndedDecember312004Iwithcomparativeactualfor2003IFinal20042003IBudgetActualActualADDITIONSIContributionsemployer750000715994581665Contributionsemployees460000518252454466Contributionsmiscellaneous10060ITotalcontributions121000012343461036191IInvestmentincomeNetappreciationdepreciationinfairvalueofinvestments787438310583IInterestearnedoninvestments215200024348871446976Totalinvestmentincome2152000647449757559ILessinvestmentexpense43000130674642Netinvestmentincome210900016343821752917ITotaladditions331900028687282789108IDEDUCTIONSRetirementpension190114817169201569865IWidowpension508515722750851Contributionrefunds7420Disabilitypension306426326035305182ITotaldeductions225842521076021925898INETINCREASE1060575761126863210NETASSETSHELDINTRUSTFORIPENSIONBENEFITSJanuary14519006244326852IDecember314595118845190062ISeeindependentauditorsreport145 IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISSTATEMENTOFCHANGESINASSETSANDLIABILITIESAGENCYFUNDSFortheYearEndedDecember312004BalancesBalancesJanuary1AdditionsDeductionsDecember31SpecialServiceAreasFundASSETSCash67303245839188Investments5000050000Receivablespropertytaxes1245508958133508TOTALASSETS1812804141650000172696LIABILITIESDuetobondholders1812808584172696Seeaccompanyingnotestofinancialstatements146 IIIIIIIIIIIIIIIIIIICOMPONENTUNITComponentUnitLibraryFundtoaccountfortheresourcesnecessarytoprovidetheeducationalculturalandrecreationalactivitiesoftheGlenviewPublicLibrary IVILLAGEOFGLENVIEWILLINOISSTATEMENTOFNETASSETSANDBALANCESHEETICOMPONENTUNITLIBRARYFUNDIDecember312004IBalanceStatementISheetAdjustmentsofNetAssetsASSETSICash349602349602IInvestments17650001765000ReceivablesPropertytaxes48428014842801ICapitalassets27549492754949TOTALASSETS695740327549499712352ILIABILITIESANDFUNDBALANCEINETASSETSLIABILITIESIAccountspayable126936126936Accruedpayroll4070040700IDeferredpropertytaxes48428014842801Duetoprimarygovernment2365523655Dueinmorethanoneyear8727387273ITotalliabilities5034092872735121365FUNDBALANCENETASSETSINetassetsIInvestedincapitalassets26676762667676Restrictedforcultureandrecreation19233111923311Umeservedfundbalance19233111923311ITotalfundbalancenetassets192331126676764590987ITOTALLIABILITIESANDFUNDBALANCENETASSETS695740327549499712352ISeeaccompanyingnotestomancialstatementsI147 IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISSCHEDULEOFREVENUESEXPENDITURESANDCHANGESINFUNDBALANCEBUDGETANDACTUALCOMPONENTUNITLIBRARYFUNDFortheYearEndedDecember312004OriginalandFinalStatementBudgetActualAdjustmentsofActivitiesREVENUESTaxesPropertytaxescurrent476971445828584582858Replacementtaxes290002900029000IntergovernmentalPercapitagrant523005663856638Makewholepayment291300303913303913Chargesforservices1013758055780557Finesandforfeits510005948459484Investmentincome48504598045980MiscellaneousDonations23532353Other45068016801Totalrevenues529998951675845167584EXPENDITURESCultureandrecreation48423014647735880484735783Totalexpenditures48423014647735880484735783NETCHANGEINFUNDBALANCE45768851984988048431801FUNDBALANCEJANUARY1140346227557244159186FUNDBALANCEDECEMBER31192331126676764590987Seeindependentauditorsreport148 IVILLAGEOFGLENVIEWILLINOISSCHEDULEOFEXPENDITURESIBUDGETANDACTUALCOMPONENTUNITLIBRARYFUNDFortheYearEndedDecember312004Iwithcomparativeactualfor2003IOriginalandFinal20042003IBudgetActualActualCULTUREANDRECREAnONRegularsalaries152766115308601457267IParttimesalaries906806858333546395Overtimesalaries1159957458882137Temporarysalaries271780Legalandprofessionalfees270003238229529IPublicinformation225001871716758Electronicresources1031739880492611Printingbindingandpublication190751092011794IUtilities147501105110652Postage241001952818025Telephone292502185522039Duesandsubscriptions572649837085IMaintenanceofequipmentandvehicles6062748229119861Maintenanceofbuildings13269563321113330Maintenancesupplies20140970532Generalinsurance597534217650547ITraining508902667630999Employeewelfare40001036606Trusteeexpenditures443055185523IDirectorexpenditures174420281385Libraryprograms266403398834434ADAcompliance500272Officesupplies246501437416262IComputersupplies570017604457Processingsupplies1487575591835Circulationsupplies1577091278512Audiovisualsupplies125751036926904IBookspamphletsandmaterials468715457389414544Periodicals552205800243854Audiovisual847508034044183Microform454953392641207IVideotapes20571Uniforms1000102258Cataloging418003058726415IContingencies2000875Otheroperatingexpenses700403311932Machineryandequipment15535128289137498Municipalequipmentrepair1934572IInsurance405736422778338114Buildingimprovements7329549646FICApayments192695186289179850IIMRF116820141350Villagewideinformationsystem5193754106Miscellaneous1537365081608AdministrativechargeGeneralFund135001000012650ITOTALEXPENDITURES484230146477354304608SeeindependentauditorsreportI149 IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISLONGTERMDEBTREQUIREMENTSCORPORATEPURPOSEBONDSSERIESOF1997December312004DateofIssueDateofMaturityAuthorizedIssueActualIssueInterestRatesAugust151997December1201761750005000BondsRate0017174875718792490079212355000June1andDecember1December1AmericanNationalBankandTrustCompanyofChicagoInterestDatesPrincipalMaturityDatePayableatFUTUREPRINCIPALANDINTERESTREQUIREMENTSTaxLevyInterestDueonFiscalBondYearNumbersPrincipalInterestTotalsJune1AmountDecember1Amount20052893402600005923231923220052961620052961620063413952750004655632155620062327820062327820073964532900001116604016602007558302007558302008454514305000190143240142008950720089507200951554385000414489144200920722009207212150002406061455606120303120303NOTEDebtserviceispayablefromtheNorthMaineWaterandSewerFundBondsnumbered544through1235wererefundedwiththeproceedsofthe2003BGOBondsSeeindependentauditorsreport150 IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISLONGTERMDEBTREQUIREMENTSCORPORATEPURPOSENOTESOF1997December312004DateofIssueSeptember21997DateofMaturitySeptember12019AuthorizedIssue2850000ActualIssue1425000InterestRates4942InterestDatesSeptember1PrincipalMaturityDateSeptember1PayableatNorthSuburbanPublicUtilityOverlandParkKansasFUTUREPRINCIPALANDINTERESTREQUIREMENTSFiscalRequirementsYearPrincipalInterestTotals20051044591109182153772006109621105756215377200711503910033821537720081207259465221537720091266918868621537720101329528242521537720111395237585421537720121464196895821537720131536556172221537720141612495412821537720151692194615821537720161775823779521537720171863592901821537720181955691980821537720192052211014321536422442839863593230642NOTEDebtserviceispayablefromtheNorthMaineWaterandSewerFundSeeindependentauditorsreport151 IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISLONGTERMDEBTREQUIREMENTSCORPORATEPURPOSEBONDSSERIESOF1998ADecember312004DateofIssueDateofMaturityAuthorizedIssueActualIssueInterestRatesNovemberI1998December12018100000005000BondsRate1139410140389415390661420662957425958127843012792000435June1andDecember1DecemberIAmericanNationalBankandTrustCompanyofChicagoInterestDatesPrincipalMaturityDatePayableatFUTUREPRINCIPALANDINTERESTREQUIREMENTSTaxLevyInterestDueonFiscalYearPrincipalInterestTotalsJuneIAmountDecember1Amount200542644042644020052132202005213220200642644042644020062132202006213220200742644042644020072132202007213220200842644042644020082132202008213220200942644042644020092132202009213220201042644042644020102132202010213220201142644042644020112132202011213220201269500042644011214402012213220201221322020131250000397945164794520131989732013198973201413600003460701706070201417303520141730352015148000028895017689502015144475201514447520161605000226050183105020161130252016113025201717350001570351892035201778518201778518201818750008156319565632018407812018407821000000049091331490913324545672454568NOTEDebtserviceispayablefromtheDebtServiceFundusingmoniestransferredfromtheGNASRedevelopmentFundSeeindependentauditorsreport152 IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISLONGTERMDEBTREQUIREMENTSCORPORATEPURPOSEBONDSSERIESOF1998BDecember312004DateofIssueJanuaryI1999DateofMaturityDecemberI2018AuthorizedIssue24400000ActualIssue5000InterestRatesBondsRate11544250151522154375221625894400259048804500InterestDatesJuneIandDecemberPrincipalMaturityDateDecemberIPayableatAmericanNationalBankandTrustCompanyofChicagoFUTUREPRINCIPALANDINTERESTREQUIREMENTSTaxLevyInterestDueonFiscalYearPrincipalInterestTotalsJuneIAmountDecemberIAmount2005157500088773624627362005443868200544386820061640000820799246079920064103992006410399200717150007510992466099200737555020073755502008179000067606824660682008338034200833803420091870000597755246775520092988782009298878201019550005154752470475201025773720102577372011205000042750024775002011213750201121375020121450000335250178525020121676252012167625201310000002700001270000201313500020131350002014100000022500012250002014112500201411250020151000000180000118000020159000020159000020161000000135000113500020166750020166750020171000000900001090000201745000201745000201810000004500010450002018225002018225002004500059566822600168229783412978341NOTEDebtserviceispayablefromtheDebtServiceFundusingmoniestransferredfromtheGNASRedevelopmentFundSeeindependentauditorsreport153 IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISLONGTERMDEBTREQUIREMENTSCORPORATEPURPOSEBONDSSERIESOF2000December3I2004DateofIssueDateofMaturityAuthorizedIssueActualIssueInterestRatesDecember152000DecemberI200849700005000BondsRate6943070795440796994450JuneIandDecemberIDecemberIAmericanNationalBankandTrustCompanyofChicagoInterestDatesPrincipalMaturityDatePayableatFUTUREPRINCIPALANDINTERESTREQUIREMENTSTaxLevyInterestDueonFiscalBondYearNumbersPrincipalInterestTotalsJuneIAmountDecemberIAmount2005169345000219335564335200510966820051096682006704191750000204500195450020061022502006102250200742079518750001275002002500200763750200763750200879699410000004500004500020082250020082250049700005963355566335298168298168NOTEItisanticipatedthattheleviesassociatedwiththisissuewillbeabatedthrough2004transfersfromtheGeneralFundThebondproceedswillbeusedforinfrastructureimprovementsthroughouttheVillageSeeindependentauditorsreport54 IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISLONGTERMDEBTREQUIREMENTSCORPORATEPURPOSEBONDSSERIESOF2001December312004DateofIssueDateofMaturityAuthorizedIssueActualIssueInterestRatesAugust12001December12012418000005000BondsRate12003502011160375116151604005161616041256161726042572618360435JuneIandDecember1December1AmericanNationalBankandTrustCompanyofChicagoInterestDatesPrincipalMaturityDatePayableatFUTUREPRINCIPALANDINTERESTREQUIREMENTSTaxLevyInterestDueonFiscalBondYearNumbersPrincipalInterestTotalsJuneIAmountDecemberIAmount20052011160480000016592506459250200582962520058296252006116121605000000147925064792502006739625200673962520072161316050000001279250627925020076396252007639625200831614160500000010792506079250200853962520085396252009416151605000000879250587925020094396252009439625201051616160500000067925056792502010339625201033962520116161726055000004730005973000201123650020112365002012726183605500000239250573925020121196252012119625S4080000077677504856775038838753883875NOTEDebtserviceispayablefromtheDebtServiceFundusingmoniestransferredfromtheGNASRedevelopmentFundSeeindependentauditorsreport155 IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISLONGTERMDEBTREQUIREMENTSGENERALOBLIGATIONREFUNDINGBONDSSERIESOF2002December312004DateofIssueDateofMaturityAuthorizedIssueActualIssueInterestRatesFebruary152002December1200568850006885000BondsRate2002200200320020042252005275June1andDecember1December1AmericanNationalBankandTrustCompanyofChicagoInterestDatesPrincipalMaturityDatePayableatFUTUREPRINCIPALANDINTERESTREQUIREMENTSTaxLevyInterestDueonFiscalYearPrincipalInterestTotalsJune1AmountDecember1Amount2005131500044710135971020052235520052235513150004471013597102235522355NOTEDebtserviceispayablefromtheDebtServiceFundusingmoniesreceivedfromapropertytaxrevenuesaswellaswaterandsewerrevenuesSeeindependentauditorsreport156 IIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISLONGTERMDEBTREQUIREMENTSCORPORATEPURPOSEBONDSSERIES2003ADecember312004DateofIssueApril12003DateofMaturityDecember12012AuthorizedIssue9990000DenominationofBonds5000InterestRatesBondsRate137205382402452411116250111711852651186166830016691998310InterestDatesJuneIandDecember1PrincipalMaturityDateDecember1PayableatAmericanNationalBankandTrustCoChicagoILFUTUREPRINCIPALANDINTERESTREQUIREMENTSTaxLevyInterestDueOnFiscalYearPrincipalInterestTotalsJune1AmountDecemberIAmount200510600002421561302156200512107820051210782006108500021565613006562006107828200610782820071105000188532129353220079426620079426620081130000160906129090620088045320088045320093450001326564776562009663282009663282010455000123600578600201061800201061800201147000010995057995020115497520115497520124850009585058085020124792520124792520135000008130058130020134065020134065020145050006630057130020143315020143315020155250005115057615020152557520152557520165450003487657987620161743820161743820175800001798059798020178990201789908790000152091210310912760456760456NOTETheproceedsofthe2003AGeneralObligationBondswereusedtoestablishescrowstoredeemportionsoftheSeries1996and1997BondsandtoprovidenewfundsfortheNorthMaineutilitysystemandstormwaterimprovementsPrincipalandinterestwillbepaidfromGlenRedevelopmentprojectrevenuestheNorthMaineutilitysystemandSpecialServiceAreasNumber36andNumber37Seeindependentauditorsreport157II IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISLONGTERMDEBTREQUIREMENTSCORPORATEPURPOSEBONDSSERIES2003BDecember312004DateofIssueDateofMaturityAuthorizedIssueDenominationofBondsAprilI2003DecemberI201219550005000InterestRatesBonds132336869105106142143180181219220260261302303346347391Rate1300160018002000240028003200350038003850InterestDatesPrincipalMaturityDatePayableatJuneIandDecemberIDecemberIAmericanNationalBankandTrustCoChicagoILCURRENTANDFUTUREPRINCIPALAlDINTERESTREQUIREMENTSTaxLevyInterestDueOnFiscalYearPrincipalInterestTotalsJuneIAmountDecemberIAmount200518500047762232762200523881200523881200618500044432229432200622216200622216200719000040732230732200720366200720366200819500036172231172200818086200818086200920500030712235712200915356200915356201021000024152234152201012076201012076201122000016802236802201184012011840120122250008662233662201243312012433116150002494261864426124713124713NOTETheproceedsofthe2003BGeneralObligationBondswereusedtofullyrefundtheSeries1992BondsPrincipalandinterestwillbepaidfromtheWholesaleWaterFundSeeindependentauditorsreport158 Rate200021252500275030003250337537004000IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISLONGTERMDEBTREQUIREMENTSCORPORATEPURPOSEBONDSSERIES2004ADecember3I2004DateofIssueDateofMaturityAuthorizedIssueDenominationofBondsAugustI2004DecemberI2014250000005000InterestRatesBonds125265051110II121521657057I9809811340134I335033515000InterestDatesPrincipalMaturityDatePayableatJuneIandDecember1DecemberIWellsFargoBankNAChicagoILCURRENTANDFUTUREPRINCIPALANDINTERESTREQUIREMENTSTaxLevyInterestDueOnFiscalYearPrincipalInterestTotalsJuneIAmountDecember1Amount20051250009095681034568200545478420054547842006125000907068103206820064535342006453534200730000090441212044122007452206200745220620085250008969121421912200844845626084484562009177500088247626574762009441238200944123820102050000829226287922620104146132010414613201I18000007626002562600201I381300201138130020122125000701850282685020123509252012350925201379250006232268548226201331161320133116132014825000033000085800002014650002041650002500000077473383274733838736693873669NOTEPrincipalandinterestwillbepaidfromGlenRedevelopmentprojectrevenuesSeeindependentauditorsreport159 IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISLONGTERMDEBTREQUIREMENTSCORPORATEPURPOSESBONDSSERIES2004BDecember312004DateofIssueDateofMaturityAuthorizedIssueDenominationofBondsAugust12004December12014223150005000InterestRatesBonds141341463363486386418631864213821392428242927282729304330443373337437183719408340844463Rate350036253875400041004200425043754400450046254700InterestDatesPrincipalMaturityDatePayableatJune1andDecember1DecemberIWellsFargoBankNAChicagoILCURRENTANDFUTUREPRINCIPALANDINTERESTREQUIREMENTSTaxLevvInterestDueOnFiscalYearPrincipalInterestTotalsJuneIAmountDecemberIAmount20059305769305762005465288200546528820069305769305762006465288200646528820079305769305762007465288200746528820089305769305762008465288200846528820091015000930576194557620094652882009465288201010500008950501945050201044752520104475252011II0000085830019583002011429150201142915020121150000818426196842620124092132012409213201311750007738621948862201338693120133869312014122500072686219518622014363431201436343120151275000677862195286220153389312015338931201613250006268621951862201631343120163134312017137500057386219488622017286931201728693120181450000517488196748820182587442018258744201915000004565881956588201922829420192282942020157500039283819678382020196419202019641920211650000323932197393220211619662021161966202217250002513321976332202212566620221256662023182500017370619987062023868532023868532024190000089300198930020244465020244465022315000128091503512415064045756404575NOTEPrincipalandinterestwillbepaidfromGlenRedevelopmentprojectrevenuesSeeindependentauditorsreport160 IVILLAGEOFGLENVIEWILLINOISIGOVERNMENTWIDEREVENUESILastTwoFiscalYearsI20042003IActualActualPROGRAMREVENUESIChargesforservices2465970326153945Operatinggrants1323171ICapitalgrants41882012628122GENERALREVENUESITaxes3761398429425738Intergovernmental63855438320236Investmentincome11915643034448IMiscellaneous16370931012998Gainlossonsaleofcapitalassets28293678844386IContributions60885732137129TOTALREVENUES8591719981557002IIIDataSourceVillageRecordsIIIIII161 2004Actual2003ActualIIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISGOVERNMENTWIDEEXPENSESLastTwoFiscalYearsGOVERNMENTALACTIVITIESGeneralgovernmentPublicsafetyHighwaysandstremsEconomicdevelopmentInterest2033799933557816195216333633008289161402746095523571173185444446952372487353246295118392270TotalgovernmentalactivitiesBUSINESSTYPEACTIVITIESWaterworksNorthMaineWaterandSewerNonmajorenterprise751428561601405021042504276821922861870109147276131307301767973908131465287TotalbusinesstypeactivitiesTOTALPRIMARYGOVERNMENTDataSourceVillageRecords162 VILLAGEOFGLENVIEWILLINOISGENERALGOVERNMENTALREVENUESBYSOURCELastTenFiscalYearsFiscalYear1995199619971998199920002001200220032004Taxes20197540212101002274934415232162147465431611061016715845191539192569489832699203Intergovernmental32491783931579511362412738479134522251439479514570521161613261875082820150236Chargesforservices1828658277969923355782961427229221528272882829958284360828479283265070Licensesandpermits958658108708816871141325782123368017373992810000241548316715542128826Finesandforfeits273652297440327361297339344317284949288386274961269721309440Investmentincome884819791238948167981067113404211332481153120601513316171350438Miscellaneous10388191129920196987972155152236363362617137399192071075934580550TOTALREVENUES28431324312270643335817534508411347253853712191540081569423700175062703459483763NOTEIncludesGeneralSpecialRevenueDebtServiceFundsandComponentUnitLibraryFundsDataSourceVillageRecords163 VILLAGEOFGLENVIEWILLINOISPROPERTYTAXASSESSEDVALUATIONSRATESEXTENSIONSANDCOLLECTIONSLastTenFiscalYearsTaxLevyYear19951996199719981999ASSESSEDVALUATIONS10360195071050308723104777782611603710411243991673RateAmountRateAmountRateAmountRateAmountRateAmountTAXEXTENSIONSCorporateFund035293656500042214433777045724790895040924748300042995348300IllinoisMunicipalRetirementFund01349139719500829870278005545806060048456135000418520000LibraryFund030013108794030283180936030363180936026843114340026283114340DebtServiceFund011901232788012511313794016631742188015291774404015261808857PolicePensionFund0036437751000384403541003583751760034740209200269318426FirefightersPensionFund0019720454200177185795001972065420011513318400089105575TOTALTAXEXTENSIONS0963099773290989010388121103801087634309251107336700922911215498COLLECTIONS974447610266321107686391063382411134514PERCENTAGECOLLECTED97679883990199079928165 VILLAGEOFGLENVIEWILLINOISPROPERTYTAXASSESSEDVALUATIONSRATESEXTENSIONSANDCOLLECTIONSContinuedLastTenFiscalYearsTaxLevyYear20002001200220032004ASSESSEDVALUATIONS122765620015116426991607514242163025784I1750000000RatpAmollntRateAmountRateAmountRateAmountRateAmountTAXEXTENSIONSCorporateFund042555223844032214869460028824633320025944229254023574125000IllinoisMunicipalRetirementFund0042452000000331500000003205150000038362500000471825000LibraryFund02683329434002272343370002695433I889029264769714028514988085DebtServiceFund015221868587011721771445011281812585011241831651008931455906PolicePensionFund0031838986500364550000004266850000048879500000529925000FirefightersPensionFund0018622860900357540000003645850000046075000000514900000TOTALTAXEXTENSIONS09388115252450771711664605078151256279407975130006190761513218991COLLECTIONS11375966115189641252062412445914PERCENTAGECOLLECTED9870987599669573000Propertytaxratesareper100ofassessedvaluationEstimatedNIAinformationisnotavailableDataSourceOfficeoftheCountyClerk166 VILLAGEOFGLENVlEWILLINOISASSESSEDANDESTIMATEDACTUALVALUEOFTAXABLEPROPERTYLastTenFiscalYearsRatioofTotaIAssessedTaxTotalEstimatedValuetoLevyAssessedActualTotalEstimatedYearResidentialCommercialIndustrialRailroadFarmValueValueActualValue19957165626022225559419672532760562115075103601950731080585213333199673600658721655350I974784541551061150751050308723315092616933331997735583702149050819614344313776673661046777826314033347833331998817802199238830264103587007126876246951160371041348111312333331999852044883258894779132903672123644246951243991673373197501933332000840920128255475255131113682122766243691227656200368296860033332001108508222929607128313033210213491022175151164269945349280973333200211507493283169583081395657681605838025516075142424822542726333320031168628313320373025141049675154176526531630257841489077352333332004125446386234390436815140975016550056520175000000052500000003333EstimatedbytheVillageofGlenviewFinanceDepartmentDataSourceOfficeoftheCountyClerk167 IIIIIIIIIIIIIIIIIIIThispageisintentionallyleftblank VILLAGEOFGLENVIEWILLINOISPROPERTYTAXRATESDIRECTANDOVERLAPPINGGOVERNMENTSLastTenFiscalYearsAssessedValuePercentininVillageofVillageofTaxLevyYearGlenview2000Glenview1995199619971998199920002001200220032004VillageofGlenview122765620010000066306870735066006520671054505450505NAGlenviewPublicLibrary122765620010000030103030304026902510269022802280293NACountyofCook1227656200141099400990919091108540824074607460630NAForestPreserveDistrict1227656200141007200740074007200700069006700670059NASuburbanTBSanitarium1227656200262000800080008000800080008000700070004NAMetropolitanWaterReclamationDistrict1227656200144049504920451044404190415040104010361NACountyConsolidatedElections122765620026200270023003200320029NANorthShoreMosquitoAbatement9401608041077001100110011001100110011001000100009NAGlenviewParkDistrict12165245068257047804760498058705780612051105110516NACommunityCollege5351227656200954023302080216020502030213018601860186NASchoolDistrict348497178418590295930713188299128393030262326232552NANewTrierHighSchool2035908314523319151929193218711845193616111611I799NASchoolDistrict3938368217471291329763314308731933454274227422707NASchoolDistrict3720714928724278827302766263526022732242024202362NANilesHighSchool219359141841311903192920161925190320681860I8602090NASchoolDistrict67295664201434248125072582248424302512227222722338NANorthfieldHighSchool22511012867373567189919031932184018701992174017401736NASchoolDistrict301382647643895311531383260311928503223276527652745NASchoolDistrict311196518962543194319652025191018942040181318131811NASchoolDistrict6331372134419306030763163307830273129269426942609NAMaineHighSchool20731372134100222422652352223421982298202620262012NAMaineTownshipGeneral75228739258008500860089008500840089007900790079NAMaineTownshipRoadandBridge75228739258004700410044004200420044003900390040NAMaineTownshipGeneralAssistance75228739258001400150016001500150016001500150016NANewTrierTownshipGeneral56667002250005200540057005400540056004400440045NANewTrierTownshipRoadandBridge56667002250NANewTrierTownshipGeneralAssistance56667002250000300030003000300030002000200020003NANilesTownshipGeneral78307652265003900380041003600370037003300330033NANilesTownshipRoadandBridge78307652265NANilesTownshipGeneralAssistance78307652265000600050005000300030003000300030003NANorthficldTownshipGeneral10164528073128001700220022002000190021001400140009NANorthfieldTownshipRoadandBridge10164528073128003900400041003900380041003600360037NA168 AssessedValuePercentininVillageofVillageofTaxLevyYearGlenview2000Glenview1995199619971998199920002001200220032004NorthfieldTownshipGeneralAssistance1016452807312800140013000900090010NANorthfieldWoodsSanitaryDistrict1247494853548019501880188017001670074000700070062NANorthMaineFireProtectionDistrict4921720221133612301224118911611205103010300862NANorthbrookParkDistrict5209568034049104840486045804530562046904690459NAGlenviewSpecialServiceArea2902491100000310NAGlenviewSpecialServiceArca3994664100000183NAGlenviewSpecialServiceArea4200083610000NAGlenviewSpecialServiceArea532471810000217021412112198019160970NAGlenviewSpecialServiceArea61104903310000012201200121NAGlenviewSpecialServiceArea9236894710000120311631140105410250771058805880487NAGlenviewSpecialServiceArea10223013810000131112661235114411120819062806280511NAGlenviewSpecialServiceArea11357272310000038503620369032502910304023902390214NAGlenviewSpecialServiceArea12159063810000070806940691063906080624051105110365NAGlenviewSpecialServiceArea169304451000009570945095108810858NAGlenviewSpecialServiceArea17171031510000084908330830074007150719058805880550NAGlenviewSpecialServiceArea1883242110000070706970698062606020616052105210461NAGlenviewSpecialServiceArea20507151910000042604130414037103590366029402940275NAGlenviewSpecialServiceArea22138813010000052705210572043703990401030403040290NAGlenviewSpecialServiceArea2462947310000073608201000061107170712057005700535NAGlenviewSpecialServiceArea272147351000015151496149812321193161016221622NAGlenviewSpecialServiceArea3147669910000082607800790068706640669048604860237NAGlenviewSpecialServiceArea32340599910000010901270127013901340136011501150095NAGlenviewSpecialServiceArea33215251310000079508100813074707290739063006300590NAGlenviewSpecialServiceArea35107040910000049404770482039403940370NAOakMeadowSanitaryDistrict431054433472012001160124000900090059NANorthwestMosquitoAbatement34080564020001000100011001000100010NAPropertytaxratesareper100ofassessedvaluation2004ratesnotavailableDataSourceOfficeoftheCountyClerk169 VILLAGEOFGLENVIEWILLINOISRATIOOFNETGENERALOBLIGATIONBONDEDDEBTTOASSESSEDVALUEANDNETGENERALOBLIGATIONBONDEDDEBTPERCAPITALastTenFiscalYearsFiscalYear19951996199719981999200020012002200320041Popn1ation384373843738437384373843741847418474184741847418472Assessedvalue10360195071050308723104777782611603710411243991673122765620015116428991607514242163025784117500000003iliossgeneralobligationbondeddebt8289500081315000698400005985500060980000629300001018000009734000097460000128390000Debtservicemoniesavailable10101716770605244164662388599365191424312442811524104892310407573293488Debtpayablefromenterpriserevenues5183800417395093446508784150817000078400007500000714500067100007267762Netgeneralobligationbondeddebt676094846943499856078884486822514915808652658756914884768914607789709243117828750Ratioofnetgeneraloblig8tiollbondeddebttoassessedvalue653661535420395429605575550673Netgeneralobligationbondeddebtpercapita175897180646145898126655127893125836218626213029214374281570EstimatedDataSourceIOfficeoftheConntyClerk2USDep8ftmentofCommerceBureauofCensus3TotalGeneralObligationBondsoutstandingallftmds170 IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISSCHEDULEOFLEGALDEBTMARGINDecember312004ArticleVIISection6kofthe1970IllinoisConstitutiongovernscomputationofthelegaldebtmarginTheGeneralAssemblymaylimitbylawtheamountandrequirereferendumapprovalofdebttobeincurredbyhomerulemunicipalitiespayablefromadvalorempropertytaxreceiptsonlyinexcessofthefollowingpercentagesoftheassessedvalueofitstaxableproperty2ifitspopulationismorethan25000andlessthan500000anaggregateofonepercentindebtednesswhichisoutstandingontheeffectivedateJuly11971ofthisconstitutionorwhichisthereafterapprovedbyreferendumshallnotbeincludedintheforegoingpercentageamountsTodatetheGeneralAssemblyhassetnolimitsforhomerulemunicipalities171 VILLAGEOFGLENVIEWILLINOISRAnoOFANNUALDEBTSERVICEEXPENDITURESFORGENERALOBLIGATIONDEBTTOTOTALGENERALGOVERNMENTALEXPENDITURESLastTenFiscalYearsFiscalYear1995199619971998199920002001200220032004Principal1316200900515016645700194245002266085026900002590000418000047000004762700Interestandfiscalcharges3748709432451639756743165948356114123798812888366390565537265454986212TOTALDEBTSERVICE50649091332966620621374225904482622199150698815478366808565584265459748912TOTALGENERALGOVERNMENTALEXPENDITURES29508111404320455044709353455235585182744169808842071614461511005038956361907501RAnoOFDEBTSERVICEEXPENDITURESTOGENERALGOVERNMENTALEXPENDITURES1716329740884226448112161302175217521575IncludesGeneralSpecialRevenueDebtServiceFundandComponentUnitLibraryFundDataSourceCityRecords172 VILLAGEOFGLENVIEWILLINOISSCHEDULEOFREVENUEBONDCOVERAGEWATERWORKSFUNDLastTenFiscalYearsFiscalYear1995199619971998199920002001200220032004Operatingrevenues6087267584152459081006480669638651165854706958560737814187397357446294Directoperatingexpenses4037210438622033097673598529363185854451934547468482209961601407514285NETREVENUEAVAILABLEFORDEBTSERVICEI20500571455304259833328821402754653114027724110922556042257959567991DEBTSERVICEREQUIREMENTS3Principal893800914850904300355500304150Interest163843121623762963180615512TOTALDEBTSERVICE10576431036473980596387306319662COVERAGE21941402657448621Operatingrevenuesminusdirectoperatingexpenses2Netrevenueavailablefordebtservicedividedbytotaldebtrequirements3TheVillagehasrecordedgeneralobligationbondissuesthroughfiscal1999ontheWaterworksFundBalanceSheetThesebondshavebeenincludedinthescheduletoillustratecoverageDataSourceVillageRecords173 174IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISDEMOGRAPIDCSTATISTICSLastTenFiscalYearsEducationLevelin3PerIYearsof2UnemployFiscalICapitaMedianFonnalSchoolmentYearPopulationIncomeAgeSchoolingEnrollmentPercentage199538437331443751608461311996384373403737516085903019973843734886375160867626199838437355783751609315251999384373631537516092412320004184737566413161115252520014184738430415161115253720024184738930417161115254520034184739708419161115254620044481843384413611152546EstimatedDataSourcesIUSDepartmentofCommerceBureauoftheCensus2Includeselementaryandhighschoolstudents3IllinoisDepartmentofLaborIllinoisDepartmentofEmploymentSecuritynotseasonablyadjusted VILLAGEOFGLENVIEWILLINOISCONSTRUCTIONVALUEANDBUILDINGPERMITSLastTenFiscalYearsNewCommercialResidentialConstructionConstmctionAdditionalPermitsIssuedFiscalNumberNumberWaterPropertyYearofUnitsValueofUnitsValuePlumbingTapElectricalDrivewayValue199541910000108137602408941291503108058521199614000002181878327091713713634509261691997101996094521930371818149713720431433334781998132313969221544747718184II14519334811131231999101380282113226622791176201211703731975019200018337348972234665834619240171180382500000020011612599592031581067184171421821764534928097200224844572533769925803517528170165482254272620031320415000170611581031624019221048907735262004113538776121489186760139381912165018379831EstimatedactualvalueofrealpropertyThesenumbersareinadditiontothoseincludedinNewResidentialandCommercialConstructionDataSourcesVillageofGlenviewBuildingDepartment175 DistributionofOwnerOccupiedNoncondominiumHousesbyValue2000CensusIIIJune201899CouncilManagerI20MilesNorthofChicagoI1327SquareMiles6142I181322488032060I384374184715810I336000UnitDistributionINumberPercent159143I12781152322729104203379019871792I2362131109010000I855I2300Class378I22III238828I469120206111439I1090435778313888I427031740919IVILLAGEOFGLENVIEWILLINOISMISCELLANEOUSSTATISTICSDecember312004DateofincOlporationFormofgovernmentGeographiclocationAreaPopulation195019601970198019902000NumberofTotalHousingUnits2000CensusMedianValueOwnerOccupiedNoncondorniniurnHousingUnitsUnitValuesbyRange1Under1000001000001999992000002999993000004999995000009999991millionormoreFireProtectionNumberoffirefightersNumberofstationsNumberoffirehydrantsIS0RatingPoliceProtectionNumberofpoliceofficersNumberofschoolcrossingguardsNumberofstationsLibraryServicesNumberoflibranesNumberofbooksNumberofrecordsNumberofaudiocassettesNumberofslidessetsNumberofvideotapesNumberofcompactdiscsNumberofregisteredborrowersBookcirculationAdultmaterialsChildrensmaterials176 IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISMISCELLANEOUSSTATISTICSContinuedDecember312004RecreationFacilitiesNumberofparksandplaygroundsParkareainacresParkDistrictownedParkareainacresParkDistrictleased36447135MunicipalParkingFacilitiesNumberofparkingspaces1168WaterworksOperationsNumberofsewercustomersatDecember312004NumberofmeteredwatercustomersatDecember312004GallonsofwaterpurchasedduringfiscalyearGallonsofwaterbilledduringfiscalyearWaterstoragecapacityGroundstorageElevatedstorage10972154783321375000292281000014000000gallons1000000gallonsNumberoffulltimeemployeesatDecember312004326MilesofstreetsmaintainedbyGlenviewidentifiedbyfunctionalclassificationArterialCollectorResidentialCuldesacs7512112Total145MilesofalleysmaintainedbyGlenview468MilesofstreetswithintheVillageofGlenviewmaintainedbyCookCountyortheStateofIllinois22MilesofsanitarysewersMilesofstormsewers1275175NumberofVillageownedstreetlights1300BuildingactivityNumberofpermitsissuedin2004Valueofconstructionauthorizedin20043100178545926DataSourceVillageRecords177 VILLAGEOFGLENVIEWILLINOISTENWEALTHIESTILLINOISCOMMUNITIES2000CENSUSDecember312004ILLINOISTENWEALTHIESTCOMMUNITIESWITH25000PLUSPOPULATIONATTHE1990CENSUSListedinDescendingOrderofMedianFamilyIncome1990MedianFamilyIncomePercent19902000IncreaseofUSRankMunicipalityCountyCensusCensus19902000AmountMedian1WilmetteCook26690276843710677325772HighlandParkLake30575313792610096724373NorthbrookCook3230833425359566523094NapervilleDuPageandWill853511283005038877021435GlenviewCook37093418471288073019446BuffaloGroveLakeandCook36427425911698052519437BartlettDuPageCookandKane19373368409027971819248GurneeLake137012861510897574218289GlenEllynDuPage24944270408474846180610WheatonDuPage514645543977733851771StateofIllinois114306021241929386465901124UnitedStates248709873284421906144414331000Atthe2000Census79Illinoismunicipalitieshadpopulationsinexcessof25000178 IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISMAJORGENERALFUNDREVENUESOURCESNONREALESTATETAXDecember312004PercentPercentIllinoisPercentFiscaSalesofTotaUtilityofTotalIncomeofTotalYearTaxRevenueTaxRevenueTaxRevenue19944438932244251286713821577071191995484307125329356961532266279118199646619852363099365157265674413419974794830211318481214024839461091998509235720933405551372666003109199957586172303262725130274028111020006522922237371258314529904321092007184006235414738813629634869720028765038288411952213527450359020031083077632557871421742593235782004116322463195948422163265948373NoteIncudesGeneraFundonly179 PaidFrom121ProDTaxes4120051660000200617500002007187500020081000000200910150001201010500002011110000020121150000201311750001201412250002015127500020161325000201713750001201814500002019150000020201575000202116500001202217250002023182500020241900000286000001215000484500016150003004500044745000250000001Notes1Excludes2244283notepayableinannualprincipalandinterestpaymentsof2153nthrough2019tothesellersoftheutilitycompanythatwasacquiredinSeptember1997TheremainingprincipalamountofspecialserviceareabondstheproceedsofwhichhavebeenusedforvariousneighborhoodlocalimprovementsandwhicharesecuredbypropertytaxestobeleviedintheapplicablespecialserviceareasisshownasoverlappingdebtinthetableDetailedOverlappingBondedIndebtednessPayableFromPropertyTaxes2Asahomeruleunitunderthe1970IllinoisConstitutiontheVillagehasnodebtlimitanditcanissuegeneralobligationbondswithoutreferendumTheVillagehaschosentofundvariouswatersewerimprovementswithgeneralobligationbondsandabatetaxesfromuserchargesTheVillageswatersystemservesapopulationofapproximately125000ofwhichapproximately83000areoutsidetheViIagelimits63000inunincorporatedareasand20000intheCitizensUtilitiesservicearea3TheSeries1998Series2001aportionoftheSeries2003ABondsandtheSeries2004ABondsareexpectedtobepaidfromincrementalpropertytaxesattheGlenviewNavalAirStationEconomicDevelopmentProjectAreaplus80ofthelandsaleproceedsderivedfromtheViiagessaleofandattheProjectArea4IncludesremainingmaturitiesoftheViIagesSeries2000BondsaportionoftheSeries2002BondsandtheSeries2004BBondsIIIIII11IIDue1IIVILLAGEOFGLENVIEWCookCountyIllinoisANNUALFINANCIALINFORMATIONSTATEMENTOFINDEBTEDNESSAsPerCentofPerCapitaAmountApplicableAssessedEstimated2000CensusasofDec312004ValueTrueValuePOD418471AssessedValuationofTaxableRealProperty20031852n55281000033334427499EstimatedTrueValueofTaxableRealProperty2003555832658430000010000013282497DirectGeneralObligationBondedDebt1PayabieFromPropertyTaxes2860000015405168344SelfSupportingDebt107465000580193256805TotalDirectBondedDebt136065000734245325149OverlappingBondedDebtPayablefromPropertyTaxes2Schools3291638117805978659OtherthanSchools80276231433144191833TotalOverlappingBondedDebt113192612611204270492TotalDirectandOverlappingBondedDebt2492576121345448595640TotalDirectandOverlappingExcSelfSupporting141792612765255338836Notes1TheVillageisahomeruleunitunderthe1970IllinoisConstitutionandassuchhasnodebtlimitnorisitrequiredtoseekreferendumapprovalfortheissuanceofgeneralobligationdebtSeeRetirementScheduleofOutstandingVillageGeneralObligationDebtbelowforalistingoftheVillagesnongeneralobligationdebtandcurrentlyoutstandinggeneralobligationdebt2SeeDetailedOverlappingBondedIndebtednessPayableFromPropertyTaxesatDecember312004RETIREMENTSCHEDULEOFOUTSTANDINGVILLAGEGENERALOBLIGATIONDEBTNote1AsofDecember312004PrinciDalAmountsSelfSUDDortinaWithProiectedAbatementFromWaterandSewerFunds2JDebtServiceTaxleviesTotalFromCumullevyPropertyAmountPercentYLTaxes96650007120041915497100600001452005195496310475000222200620029749945000295200719755751029500037120081945575107200004492009194557511140000531201019583001163000061720111966425118500007042012194886312340000795201319518634280000826201419528634475000859201519518634690000893201619488634325000925201719674881500000936201819565881575000948201919678381650000960202019739311725000973202119763311825000986202219987061900000100020231989300136065000PreSeries2003260000275000290000305000850000Series2003A51050001100001100001100003450004550004700004850005000005050005250005450005800000Series2003861850001850001900001950002050002100002200002250000TaxIncrementRevs3SeriesSeriesSeries1998200103A2004A1575000575500012500016400005975000125000171500059950003000001790000602000052500018700005000000177500019550005000000205000020500005500000180000021450005500000212500022500000792500023600008250000248000002605000273500028750000180 I5Includes95155principalamountpayablefromSpecialServicesAreas36and376TheSeries2003BBondswhichrefundedtheSeries1992arepayableprimarilyfromrevenuesoftheserviceareaofaprivatewatercompanyIllinoisAmericanWaterCompanyoutsidetheVillagelimitsDEBTRATIOSANDPERCAPITADEBTLASTTENBONDSALESNote1RatiotoEstimatedActualValue1DirectDebtDirectOverlaDDlnaDebtIncludingExcludingIncludingExcludingSelfSelfSelfSelfSUDoortinaSUDDortina2JSUDDortinaSUDDortlna2875729826889573172851014531826211342315244212373982231683332819324733490243275304922472142143524227158479266Notes1RatiosandpercapitainformationassetoutinapplicableOfficialStatementsTheVillagesBondAnticipationBondswhichsoldonJanuary251995arenotincludedintheseratiosseeNote52ExcludingtheVillagesselfsupportinggeneralobligationbondeddebt3GeneralObligationBondAnticipationBondsSeries1995BABStheproceedsofwhichwereusedtofundinterestuptotherespectivematuritydatesoftheBABSandtocreateacapitalimprovementfundforredevelopmentcostsoftheGlenviewNavalAirStationwhichofficiallyclosedonSeptember91995TheprincipalamountoftheBondAnticipationBondswasnotincludedinthedebtratiosandpercapitadatawhenthosematuritieswererefinancedwithSeries1996andtheSeries1998Bondstheyappearedinthedebtratiosandpercapitadebt4ProceedsusedtorefundtheDecember11996maturityoftheBABS5AportionoftheproceedsoftheSeries1998BondswasusedtorefundtheDecember11998maturityoftheBABS6ProceedsusedtoredeemtheSeries1993and19947ProceedsusedtoadvancerefundthecallablematuritiesoftheSeries1996and1997tocurrentrefundtheSeries1992andtoprovideapproximately1900000forwaterandsewerprojectsVillaaeIssueAmount6000000035000008435000461750003440000054970000418000006885000611945000747315000SaleDateJanuary251995October171995October151996August51997October201998December52000August72001February52002March42003July202004IncludingSelfSUDDortina221967236061259075254413312564310934437757435397483424595811IIIIIIIIDETAILEDOVERLAPPINGBONDEDINDEBTEDNESSPAYABLEFROMPROPERTYTAXESATDECEMBER312004ISCHOOLDISTRICTSElementaryDistrictsGlenviewSchoolDistrictNo34NorthbrookSchoolDistrictNo30WestNorthfieldSchoolDistrictNo31WilmetteSchoolDistrictNo39EastMaineSchoolDistrictNo63GolfSchoolDistrictNo67AvocaSchoolDistrictNo37HighSchoolDistrictsNorthfieldTownshipHighSchoolDistrictNo225NewTrierTownshipHighSchoolDistrictNo203NilesTownshipHighSchoolDistrictNo219MaineTownshipHighSchoolDistrictNo207PercentofVillages2003RealPropertyinTaxinaBodv695114953224231710009004828241000GrossBondedDebt18790000712806775100001233000017320000482851245649802105242432214363738574903316465000VillagesApplicableShareHole1ofGrossDebtToBePaidFromRealPropertyTaxesPercentAmount8616837560272894630415015752737536924230313571001CommunityCOllegeDistrlctOaktonCommunityCollegeNo535100009886TotalSchoolDistrictsOTHERTHANSCHOOLDISTRICTSCookCountyIncludingForestPreserveDistrict1000322832000021449MetropolitanWaterReclamationDistrict1000136673911521478GlenviewParkDistrict99315200000382819NorthbrookParkDistrict4206250000322GlenviewSpecialServiceAreasVarious642570100000TotalOtherThanSchoolDistrictsII1619096726773022049404570879718780760587336867I77733975099681163614164815II032916381I4677835720200404125684886641364257080276231INotes1Villagessharebasedupon2003RealPropertyvaluations2Excludesshorttermcashflownotes3ExcludesthefollowingAlternateBondsissuedpursuanttoPublicAct851419whichareconsideredfobeselfsupportingsincetheyarepayablefromuserfeesorotherpledgednonpropertytaxsourcesNorthfieldTownshipI181I IHighSchoolDistrictNo22521660000NewTrierHighSchoolDistrictNo2033735000andGlenviewParkDistrict30015000IEQUALIZEDASSESSEDVALUATIONFORTAXINGPURPOSESNote1ITaxLevyYear199920002001320022003ForGeneralTaxinaPurDosesNote1GrossLessNetForIncreaseRealExemptionsGeneralTaxingOverProoertv2PurDosesPriorYear130903017065038497124399167372129303763765381437122765620013515875544087591170915116426992311682291173747769311607514242631708086232778283911630257841414NetForPlusGeneralTaxingIncrementalPurooses6Valuation7124399167322168561227656200553798415116426993965093516075142421263958091630257841222517687TotalForAllTaxingPUrDoses612462085291233194164155129363417339370511852775528IINotes1PropertyinCookCountyisseparatedintoeightclassificationsforassessmentpurposesrangingin1985from16forresidentialto40forcommercialpropertyAftertheassessorestablishesthefairmarketvalueofaparceloflandthatvalueismultipliedbyoneoftheclassificationpercentagestoarriveattheassessedvaluationforthatparcelTheIllinoisDepartmentofRevenuefumisheseachcountywithanadjustmentfactortheequalizationfactortoequalizethelevelofassessmentbetweencountiesAftertheequalizationfactorisappliedthevaluationofthepropertYfortaxingpurposeshasbeenestablishedtaxratesareappliedtotheequalizedvaluation2Includesfourcategoriesofexemptionsin2003theSeniorCitizensHomesteadExemption8748500theGeneralHomesteadExemption54715851theSeniorCitizensTaxFreezeHomesteadExemption13305233andtheLongTermHomeownerExemption1058807TheSeniorCitizensHomesteadExemptioneffectivefortaxyears1991andfollowingisareductionof25001500inlevyyears19721983and2000inlevyyears19841990intheequalizedassessedvaluationofrealpropertYownedandoccupiedbyaperson65yearsofageorolderTheGeneralHomesteadExemptionisavailabletoowneroccupiedresidentialpropertytheamountoftheexemptionistheincreaseinthecurrentyearsequalizedassessedvaljationabovethe1977taxyearequalizedassessedvaluationwithamaximumof1500in19783000between1979and19823500between19831990and4500thereafterTheSeniorCitizenTaxFreezeHomesteadExemptionfirsteffectiveinlevyyear1994providesthatpersons65orolderwithahouseholdincomeoflessthan40000upfrom35000inlevyyear1998andpriormayreceiveanexemptionintheamountofthedifferencebetweenthecurrentequalizedassessedvalueoftheirprincipalresidenceandthelowestpreviousassessmentinaqualifyingyeareveniftheseniorwasnoteligibleforsomeinterveningyearTheLongTermHomeownerExemptionisaCookCountyprogramthatprovidespropertYtaxrelieftolongtermhomeownerswhomeetcertainincomerequirementsandwhohavebeenadverselyaffectedbyrapidincreasesinpropertYvalues3UnderthecurrenttriennialreassessmentsysteminCookCountyonethirdoftheCountyisreassessedeachyearTheVillagewasreassessedin2001fortaxestobecollectedin20024Byvaluation833oftheVillageisinNorthfieldTownship60isinNilesTownship60isinMaineTownshipand47isinNewTrierTownshipIncludes160583ofRailroadPropertynowclassifiedasRealProperty5The13decreasein2000wereprimarilyduetoadecreaseof12intheStateimposedequalizationfactorforCookCounty6TheVillagestaxrateiscalculatedbasedontheVillagesNetEqualizedAssessedValuationshowninthistableasNetForGeneralTaxingPurposesandisextendedagainstitsentireEqualizedAssessedValuationshowninthistableasTotalforAllTaxingPurposesexcludingonlythestatutoryexemptionsOfthetaxescollectedthatportionapplicabletoincrementalvaluationvaluationoftaxincrementdistrictsisremittedtotheVillagebytheCountyCollectorfordepositintheapplicabletaxallocationfundTheEqualizedAssessedValuationforwhichtheVillagereceivesitsportionofthetotaltaxrateforallnonTIFpurposesisshowninthetableasNetforGeneralTaxingPurposes7WhentheGlenviewNavalAirStationTaxIncrementDistrictwascreateditincludedtheAirStationandanolderindustrialareaadjacenttheretoAsofJanuary11999theincrementalvaluationwasaddedfromchangesinthatindustrialareaLandValuationsinthatindustrialareahaveincreasedforavarietyofreasonsincludingthefactthepropertybeingadjacenttoamajornewroadwayentranceintotheredevelopedbaseandanearbynewMetratrainstationIIIIIIIIITAXRATESPER100EQUALIZEDASSESSEDVALUATIONLevyYearsVillageofGlenview19992000200120022003BondsandInterest145152117113112PensionsPoliceFireIMRFSocialSecurity077093105111133Corporate430426m259TotalVillage1652671545512505CookCountyInclForestPreserve955893813751669MetropolitanWaterReclamationDistrict419415401371361GlenviewSDNumber3428393030262325092552NorthfieldTownshipHSDNumber22518701992174016821736OaktonCommunityCollegeDisNumber535203213186179186GlenviewParkDistrict578612511492516GJenviewPublicLibrary2251269228270293NorthfieldTownshipandAllOther066081099067096Total378356176714666336936VillageasaPercentofTotal8362767573IIIII182 Notes1Asahomeruleunitunderthe1970IllinoisConstitutiontheVillagehasnostatutorytaxratelimitations2Beginninginlevyyear1985thetaxrateforLibrarypurposesisconsideredunderStatelawtobeaseparatelevyfromtheVillage3Taxrateapplicabletothelargesttaxcodethatrepresented445oftheVillages2003taxbaseandislocatedinNorthfieldTownshipIITAXEXTENSIONSANDCOLLECTIONSVillagePurposesOnlyILevyYear19992000200120022003CollectionYear20002001200220032004TotalTaxesExtended81108258237573823845282304738232795TotalTaxesCollectedasofDecember3120041Amount2Percent8080664996382963301007184412911024683460331014082318509998IINotes1SourceCookCountyTreasurersOfficeTaxescollectedincludinglatepaymentsareshownascollectionsintheyearwhendueregardlessofwhenthecollectionoccursTheAmountCollectedisnotthesameasdistributionstotheVillageascollectionsincludetaxespaidunderprotestWhenthetaxesarepaidunderprotestareremittedtheyarenotincludedastaxescollectedastheyhavealreadybeenconsideredcollected2CookCountypropertytaxesarepayableintwoinstallmentsthefirstonMarch1andthesecondonthelatterofAugust1or30daysafterthemailingofthetaxbillsThefirstinstallmentisanestimatedbillandisonehalfoftheprioryearsbillThesecondinstallmentisbasedonthecurrentlevyassessmentandequalizationandreflectsanychangesfromtheprioryearinthosefactorsThesecondinstallmentdateforlevyyears19992003wereOctober22000November12001November12002October12003andNovember152004respectivelyIII1997AND2002TAXBASEDISTRIBUTIONBYPROPERTYCLASSIFICATIONIVillaaeofGlenviewTaxableValuation2PercentofTotalProoertvClassification1997200219972002Residential7365183701251887575703722Commercial1214905081329600589205190Industrial961434431502080499288Railroad137766160583NILNILFarm7316680255NILNILTotal1047777826173393705110001000PercentIncrease19972002655IINotes1Thecommercialclassificationincludesapartmentbuildingswithoversixunitsandanyapartmentretailmixedusebuildings2IncludesincrementalvaluationintheVillagestaxincrementfinancingdistrictInformationbyproperlyclassforlevyyear2003isnotavailableasofthedateofthisreporlIITENLARGESTTAXPAYERSNotes123TaxDaverProDertiesKraftGeneralFoodsCorporateHeadquarterslResearchCampusGrubbEllisServicesAONInsuranceCompanyIllinoisToolWorksIncCorporateHeadquartersCatellusDevelopmentCommercialPropertyPearsonTaxDepartmentCorporateHeadquartersBookPublishing3WyndhamInternationalDoubletreeHotelCCLakeIncCommercialPropertyMidAmericanAsselCommercialPropertyParksideSeniorServicesTheSeasonsatGienviewPlaceHeatherfieldCenterLLCShoppingCenterTotalTenLargestTaxpayersValuationsasofJanuary12003for2004taxingpurposesTotal2003Villagevaluationof1852775528includingincrementalvaluationCorporateheadquartersofScottForesmanEqualizedAssessedValuation14764091021615202172586161418975712236515120877201094224310671803102198868494956165357608IRank12345678910PercentofVillalle22612090807070606060594IIII183I IGENERALFUNDSummaryStatementofRevenuesExpendituresandChangesinFundBalanceFiscalYearsEndingDecember31ActualNote1IIRevenueslTransfers3ProperlyTaxesProperlyTaxesFireProtectionDistrict7SalesTaxesHomeRuleSalesTax3UtilityTaxandTelecommunicationsTaxStateIncomeTaxPhotoUseTaxFranchiseTaxesHotelRoomlAmusementTax4BuildingPermitslCerlOfOccupOtherLicensesandPermitsChargesForServicesFinesandForfeitsInterestTransfersInLandSalesAllOtherRevenuesTotalRevenueslTransfersExpendituresITransfersGeneralGovernmentPublicSafetyHighwaysandStreetsPensionsSubtotalExpendituresCapitalEquipmentReplacementTransfers6CapitalProjectTransferslCapitalOutlayDebtServiceTransferTotalExpenditureslTransfersRevenueOverUnderExpendituresBeforeCapitallTransfersAfterCapitalfTransfersAdjustmentstoFundBalanceFundBalanceatDecember31IIIIIIIIIIIIIII20005628468196807665229220371258335510201952818720191456765280634128092822443166538224175042954808871722995864551321691329503151004555705742409822910013026172069031271600200420015808880196806271840060414738834839704147887481882467698342302115255321528476983312006619566549342803179452720022003Sudaelf2J5877232587646666324952171117224515723000008765038108307761050000000100000411952257871424482750318374429702583030000285110308138289000615083717486650000206314913998531061000352334271701335000110904810216931350375207720181384201000401213155307360000130108012778454569000O105000013324081577050147209531783798346202563427061554500926060618769064676757931538972515850504169764781930352358660806118925623531567195790000267058972803004730902439336988951061930122522012521241168052437416349066204775625197582108052193362193350304160482982366934421654363354585860416487782535344153498482571720131295513784791960129198602206484303710340177636812189197139387131589884217873812BalanceSheetatDecember31567215311466314253155661035211060O538037578588457313791968913262803134399571291116128363500613707318550132385031862892494831560607229517431014754333924656538292814250419355776698407106510831055773742940605923470527614960988895180223200458227287324185479773498361531691167182313731440022602920958610431001385110326562297510018607808275927203132268Assets20002001200220032004CashandInvestments1220672914756756150320031418609012249112ReceivablesProPerlyTaxesSalesTaxUtilityTaxesOtherReceivablesDueFromOtherFundsAllOtherAssetsTotalAsselsLiabilitiesandFundBalanceAccountsPayableOtherPayablesDueToOtherFundsDeferredRevenuesAllOtherLiabilitiesFundBalanceReserved100001000010000030860DesignatedforSurchargeReceipts13348481334848133484800Undesignated1084434912593865145539941787381219125436TotalFundBalance1218919713938713158988421787381219156296TotalLiabilitiesFundBalance50538037231868924948312504193527621429INotes1ThesecondensedfinancialstatementsfortheGeneralFundfortheyearsendingDecember3120002004havebeenpreparedfromthefullComprehensiveAnnualFinancialReportsoftheVillageofGlenviewanddonotpurporttobecompletefinancialstatementsThefullfinancialstatementstogetherwiththereporloftheVillagesindependentaccountantsareavailableuponrequestSeeNote1toCombinedStatementAllFunds2TheVillageManagersubmitsaproposedoperatingbudgettotheBoardofTrusteeswhichbudgetincludesproposedexpendituresandthemeansoffinancingthemSubsequenttobudgethearingsthebudgetislegallyenactedthroughpassageofanordinanceTheVillageManagerisauthorizedtotransferbudgetedamountsbetweendepartmentswithinanyfundhoweveranyrevisionsthatalterthetotalexpendituresofanyfundmustbeapprovedbytheBoardofTrusteesBudgetsareadoptedonabasisconsistentwithgenerallyacceptedaccountingprinciplesTheVillagebudgetedtotalrevenuesof39475655andtotalexpendituresof39370640forthefiscalyearendingDecember312005forabudgetedsurplusof1050153AsahomeruleunittheVillagecanincreaserevenuesbyincreasingitsproperlytaxlevyadoptingaPreparedFoodandBeverageTaxandincreasingitshomerulesalestaxTheVillagecouldalsoreimposeamotorvehiclelicensefeewhichifsetatthepriorlevelcouldgenerateover450000inannualrevenuesfiscalyear1997wasthelastcompleteyearthefeewasineffectTheVillageadoptedaYoof1salestax42206697951656610563641173520184Actual5517792253501211632246110663259484223096604337969799918178246034636614899942499561459925066020153762937033594781035118789689646996103307000111547623633950355488723963593148472220223819156296 effectiveJuly12004whichisexpectedtoyield17milliononannualizedbasisIncalendar2004theproceedswereallocated100000totheGeneralFundand850000totheCapitalProjectsFund4EffectiveMay61985theVillageadopteda5hotelroomtaxTheVillagecurrentlyhasfiveoperatinghotelswith856roomsTheVillageadopteda4AmusementTaxeffectiveJanuary119985DevelopersarerequiredtodepositwiththeVillageanamountequaltothecostofallimprovementsbeingbuiltanddedicatedtotheVillagewhichdepositsarereturneduponsatisfactorycompletionoftheimprovementsInteresteamingsontheamountsintheEscrowDepositFundaretransferredtotheGeneralFund6TheCapitalEquipmentRepacementFundCERFwasestablishedbyordinancein1979withthestatedpurposeofeveningouttheannualexpendituresformajorcapitalexpendituresAlloftheVillagesonroadandoffroadequipmentfirepublicworlsetcisincludedEachDepartmentischargedwiththeequivalentofadepreciationchargewhichisremittedincashtotheCapitalEquipmentReplacementFundanIntemalServiceFundAsofDecember312004auditedcashandinvestmentsintheCapitalEquipmentReplacementFundtotaled107768307OnSeptember11992theGenbrookFireProtectionDistrictwasmergedintotheGlenviewFireDepartmentTheFireProtectionDistrictcontinuestolevypropertytaxesonthatpartofitstaxbaseoutsidetheVillagelimitsandremitsthosetaxreceiptstotheVillageforservicesintheunincorporatedareathatnowrepresentsitstaxbaseIIIIIRevenuesExcessInclTransfersRevenuesIFiscalYearEndedDecember31PropertyOverFundGovernmentalFundTypes2000200120022003TaxTotalExpendituresBalanceGeneralFund12189197139387131589884217873812551779237008594128248419156296SpecialRevenueFundsIMRF229524377590468501460141596662620025259081201060IMotorFuelTax2069262118252435793055140318418422841842589698RefuseandRecyding1398883162338018629542117344011366752447082362052911Communications397895456719305842542395064444741598500797GNASRedevelopment2461238245080672378016230391304710741GNASCaretaker4807159839585181649150236339010146863447ForeignFireInsurance00395377284906261061845134694SpecialTaxAllocation34771671695369027694601836686819653680410EscrowDeposit1491611491611453981273440727478747136091IDeposit4640753706558275943605384538464820PoliceDeptSpecialAccount256652608826185464170197907176139241TotalSpeciaiRevenue24673572751522399218937710935966622809915922032495974342DebtServiceFunds24312442811524104892310239021748603187661122681363292038CapitalProjectFunds1076732361582921221128381134714245102122542829554093766965441TotalGovemmentalFunds1247610341777938811337780676981125878630578820979235307962105119220ProprietaryFundType3EnterpriseFundsWaterworks416666968176389681843907530780983074462941907724288732591Sewerage43796276363015038793447342484010549232929547049530WholesaleWater4733552564303451575853635016553394232341276869NoMaineWaterandSewer44218392743442359761057360055324571421886364526CommuterParkingLot24059527577333576213935870374653437991437386TotalEnterpriseFunds210155522183485022869780414280490160636663155531382725181IntemalServiceFundsMunicipalEquipmentRepair5225598234417888071037890125368858801162590Insurance3733331355248435380713218414054121086996023918016CapitalEquipmentReplace00089288870198145374230696711931TotalintemalServiceFunds39589293786901362687812043512086472491383107113426619TotalProprietaryFunds24974481256217512649665853471561024710915177242451699137FiduciaryFundTypes6PolicePension2915717529380377310604353419412903733741232131936515448FirefightersPension4016688941979483443268524519006202868728761126459511881TotalFiduciaryFunds6932406471359860753872877938419106602469308244582466636ComponentUnitLibraryFund8169068313392789845411403462458285851675845198491923311TotalAllFundsMemoOnly22075026227611477023664655320407047212445915124690760371378322412083041DesignatedasmajorfundsunderGASBStatement34WithintheCapitalFundsthefollowingfundsaremajorfundsVillagePermanentFundGNASBonFundSeries1995FundGlenLandSalesFund2004GlenBondFundandPoliceDepartmentHeadquartersFundII185I IIcashandInvestmentsatDec31GeneralFundSpecialRevenueFundsDebtServiceFundsCapitalProjectFundsCapitalEquipReplacement7GNASProjectVillagePermanentCapitalProjectsAllOtherTotalCapitalProjectsProprietaryFundsFiduciaryFunds6ComponentUnitUbraryFund8TotalCashandInvestments920001220672921604492427557200114756756253572628130242002150320033958758105399220031418609081079211076796200412249112106836113322896I879678566510250266510778864515651759711734022489437057380157515591642184394038715538106108151362537161112965968621981690692628693237754934481525360274886813977151510047720107768308158418517708070248337732614712127159563280790431067946495553926780185503975445648092116248013322203969035554916323119292124856393513576501802881327872724382471552116943315828152114602244016481181280354216050585IINotes1ThesecondensedfinancialstatementsfortheyearsendingDecember3120002004havebeenpreparedfromthefullComprehensiveAnnualFinancialReportsoftheVillageofGlenvlewanddonotpurporttobecompleteauditsThefullfinancialstatementstogetherwiththereportoftheVillagesindependentaccountantsareavailableuponrequestTheaccountingpoliciesoftheVillageconformtogenerallyacceptedaccountingprinciplesasapplicabletogovemmentalunitsTheaccountsoftheVillageareorganizedonthebasisoffundsandaccountgroupseachofwhichisconsideredaseparateaccountingentityThevariousfundsaregroupedintothethreebroadcategoriesofGovemmentalFundsFiduciaryFundsandProprietaryFundsWithintheGovernmentalFundsaretheGeneralFundthegeneraloperationfundwhichisusedtoaccountforallfinancialresourcesexceptthoserequiredtobeaccountedforinanotherfundSpecialRevenueFundswhichareusedtoaccountfortheproceedsofspecificrevenuesourcesthatarelegallyrestrictedtoexpendituresforspecifiedpurposesDebtServiceFundsandCapitalProjectFundsThemodifiedaccrualbasisofaccountingisfollowedforallGovernmentalFundTypesandExpendableTrustFundsintheFiduciaryFundscategoryAllremainingFiduciaryFundsPensionTrustFundsandProprietaryFundsareaccountedforusingtheaccrualbasisofaccountingTheReportofIndependentAuditorsIntheVillagesgeneralpurposefinancialstatementsforitsfiscalyearendedDecember312004includedthefollowinglanguagecomparablecleanopinionswereincludedintheVillages20002004auditsInouropinionthebasicfinancialstatementsreferredtoabovepresentfairlyInallmaterialrespectsthefinancialpositionoftheVillageofGenviewIllinoisasofDecember312004andtheresultsofitsoperationsandthecashflowsofitsproprietaryfundtypesfortheyearthenendedandconformitywithaccountingprinciplesgenerallyacceptedintheUnitedStatesofAmericaAlsoinouropinionthecombiningandIndividualfundfinancialstatementsreferredtoabovepresentfairlyInallmaterialrespectsthefinancialpositionofeachoftheindividualfundsoftheVillageofGlenvlewillinoisasofDecember312004andtheresultsofoperationsofsuchfundsandthecashflowsofIndividualproprietaryfundsfortheyearthenendedinconformitywithaccountingprinciplesgenerallyacceptedintheUnitedStatesofAmerica2TheGlenviewNavalAirStationRedevelopmentFundwascreatedtoaccountfortheresourcesandexpendituresincurredInthedevelopmentoftheGlenvlewNavalAirBaselandwhichwasvacatedbytheNavyonSeptember91995I3TheamountsshownasfundbalancesfortheProprietaryFundsareretainedearningsexcludescontributedcapitalandtheamountsshownasexcessrevenuesrepresentthechangeInretainedeamingsTotalrevenuesrepresentoperatingrevenues4Priortofiscalyear1993theVillagemaintainedtwoWaterworksFundstoprovideaccountingfortheeastemportionoftheVillageWaterworksEastandthewesternportionandtheapplicableunincorporatedareaadjacenttothewesternborderoftheVillageWaterworksWestthatIsservedbythewatersystemretainedearningsatDecember311992were3909087forWaterworksEastand5537828forWaterworksWestThetwoaccountingfundsweresetupin1977whenthetwoprivatewatercompaniesservingtheapplicablewestemportionandunincorporatedareaswereattherequestoftheresidentsacquiredbytheVillageforthepurposeofupgradingthewaterqualityinthatareabyreplacingwellwatersupplywithLakeMichiganwatersupplythathadbeenavailabletoeastGlenviewsince1937ItwasdeterminedthatthecostofamoriizingthedebtapplicabletotheacquisitionofthetwoprivatewatercompaniesandconstructingthenecessarytransmissionmainstorageandwestsystemupgradingwouldbepaidforbythecustomersofthewestsystemTheuseofdifferingratescontinueduntil1992whenaunifiedratestructurewasputinplaceandtheuseofaminimumchargeforwaterusagewaseliminatedThetwofundswerecombinedinfiscalyear1993AseparateSeweregeFundwascreatedinfiscalyear1986toaccountforthefundsnecessarytoprovidesanitarysewerservicetoboththeincorporatedandunincorporatedareasservedbytheVillagePriorto1986thesefundswereaccountedforinthetwoWaterworksFundsTheWholesaleWaterFundaccountsforthesaleofwatertoCitizensUtilityCompanyforitsserviceareaoutsidetheVillageofGenviewTheNorthMaineWaterandSewerFundaccountsforallfinancialactivityrelatedtotheVillageprovidingwaterandsewerservicetoanunincorporatedareasouthwestoftheVillagefonnerlyservedbytheNorthSuburbanPiJblicUtilitiesCompany5TheMunicipalEquipmentRepairFundisusedtoaccountforthecostsofrepairingandmaintainingallVillagevehicles6ExcludestheVillagesAgencyFunds7January12003theCapitalEquipmentReplacementFundwasclassifiedasanInternalServiceFund8Beginninginfiscalyear1993theLibraryFundwaspresentedintheauditasacomponentunitoftheVillagebecausetheLibrarypossessesthecharacteristicsofalegallyseparategovernmentseparatelyelected7memberboardwhichannuallydeterminesitsbudgetandtaxlevy9TheVillagesCashControlandInvestmentPolicywasoriginallyadoptedonFebruary211983andwasrevisedonMarch151985January161990March191996andJanuary8200010AsofJanuary12003forfiscalyearsendingDecember312003andthereaftertheVillageadoptedtheprovisionsofGovernmentalAccountingStandardsBoardStatementsNo34BasicFinancialStatementsandManagementsDiscussionandAnalysisForStateandLocalGovernmentsStatementNo37BasicFinancialStatementsandManagementsDiscussionandAnalysisForStateandLocalGovemmentsOmnibusStatementNo38CerialnFinancialStatementNoteDisclosuresandGASBInterpretationNo6RecognitionandMeasurementofCertainLiabilitiesandExpendituresinGovernmentalFundFinancialStatementsThisresultedinachangeIntheVillagesmethodofaccountingandachangeintheformatandcontentofthebasicfinancialstatementsincludingnotestofinancialstatementsAsaresultdirectcomparisonswithceriainresultsfrompriorfiscalyearsarenotpossibleIIIIIIIIIIIIII186 CapitalAssetsNotBeingDepreciatedLandLandRightofWayConstructioninProgressTotalCapitalAssetsNotBeingDepreciatedCapitalAssetsBeingDepreciatedBuildingsandImprovementsEquipmentandVehiclesInfrastructureTotalCapitalAssetsBeingDepreciatedLessAccumulatedDepreciationTotalCapitalAssetsBeingDepreciatedNetGovernmentalActivitiesCapitalAssetsNetCAPITALASSETSNoteAtDecember312004GovernmentalActivitiesCapitalAssetsNotBeingDepreciatedLandConstructioninProgressTotalCapitalAssetsNotBeingDepreciatedCapitalAssetsBeingDepreciatedBuildingsandImprovementsWaterSystemSewerSystemEquipmentandVehiclesTotalCapitalAssetsBeingDepreciatedLessAccumulatedDepreciationTotalCapitalAssetsBeingDepreciatedNetBusinessTypeActivities30285110000001302851446954365466789701126285739649552154163059553324619934549050NoteCapitalassetswhichincludepropertyplantequipmentandinfrastructureassetsegroadsbridgessidewalksandsimilaritemsarereportedintheapplicablegovemmentalorbusinesstypeactivitiescolumnsinthegovemmentwidefinancialstatementsCapitalassetsaredefinedbytheVillageasassetswithaninitialindividualcostinexcessof25000andanestimatedusefullifeinexcessofoneyearSuchassetsarerecordedathistoricalcostorestimatedhistoricalcostifpurchasedorconstructedDonatedcapitalassetsarerecordedatestimatedfairmarketvalueatthedateofdonationThecostsofnormalmaintenanceandrepairsthatdonotaddtothevalueoftheassetormateriallyextendassetlivesarenotcapitalizedMajoroutlaysforcapitalassetsandimprovementsarecapitalizedasprojectsareconstructedInterestincurredduringtheconstructionphaseofcapitalassetsofbusinesstypeactivitiesisincludedaspartofthecapitalizedvalueoftheassetsconstructedCapitalassetsaredepreciatedusingthestraightlinemethodovertheestimatedusefullives56438535492389520357182809249301023496790775751064607021257732444959787976175365157100295BusinessTypeActivitiesCapitalAssetsNet187IIIIIIIIIIIIIIIIIII