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FY 2002 Certified Comprehensive Annual Financial Report
VILLAGEOFGLENVIEWILLINOISCOMPREHENSIVEANNUALFINANCIALREPORTFortheYearEndedDecember312002PreparedbyFinanceDepartmentDanielPWiersmaDirectorofFinanceDanielaPartipiloAssistantDirectorofFinance IIVILLAGEOFGLENVIEWILLINOISTABLEOFCONTENTSIIiiIIIIIIiIIIIINTRODUCTORYSECTIONPrincipalOfficialsOrganizationChartCertificateofAchievementforExcellenceinFinancialReportingDirectorofFinancesLetterofTransmittalFINANCIALSECTIONINDEPENDENTAUDITORSREPORTGENERALPURPOSEFINANCIALSTATEMENTSCombinedBalanceSheetAllFundTypesAccountGroupsandDiscretelyPresentedComponentUnitCombinedStatementofRevenuesExpendituresandChangesinFundBalancesAllGovernmentalandFiduciaryExpendableTrustFundTypesandDiscretelyPresentedComponentUnitCombinedStatementofRevenuesExpendituresandChangesinFundBalancesBudgetandActualAllGovernmentalFundTypesCombinedStatementofRevenuesExpensesandChangesinRetainedEarningsAllProprietaryFundTypesCombinedStatementofCashFlowsAllProprietaryFundTypesCombinedStatementofChangesinPlanNetAssetsAllPensionTrustFundsNotestoFinancialStatementsREQUIREDSUPPLEMENTARYINFORMATIONScheduleofFundingProgressIllinoisMunicipalRetirementFundPolicePensionFundFirefightersPensionFundScheduleofEmployerContributionsIllinoisMunicipalRetirementFundPolicePensionFundFirefightersPensionFundPagesiiiiiiivxiv123678910111213141547484950515253 VILLAGEOFGLENVIEW1LLINOISTABLEOFCONTENTSContinuedIIiFINANCIALSECTIONContinuedCOMBININGINDiVIDUALFUNDANDACCOUNTGROUPSTATEMENTSANDSCHEDULESGOVERNMENTALFUNDTYPESGENERALFUNDBalanceSheetStatementofRevenuesExpendituresandChangesinFundBalanceBudgetandActualScheduleofRevenuesBudgetandActualScheduleofExpendituresBudgetandActualScheduleofDetailedExpendituresBudgetandActualSPECIALREVENUEFUNDSCombiningBalanceSheetCombiningStatementofRevenuesExpendituresandChangesinFundBalancesIllinoisMunicipalRetirementFundStatementoRevenuesExpendituresandChangesinFundBalanceBudgetandActualMotorFuelTaxFundStatementofRevenuesExpendituresandChangesinFundBalanceBudgetandActualRefuseandRecyclingFundStatementofRevenuesExpendituresandChangesinFundBalanceBudgetandActual911CommunicationsFundStatementofRevenuesExpenditmesandChangesinFundBalanceBudgetandActualPages54555657585960666768697071727374IIIiIIIIiIIII iiVILLAGEOFGLENVIEWILLINOISTABLEOFCONTENTSContinuediiiJiiiIiIFFFINANCIALSECTIONContinuedCOMBINING1NDWIDUALFUNDANDACCOUNTGROUPSTATEMENTSANDSCHEDULESContinuedGOVERNMENTALFUNDTYPESContinuedSPECIALREVENUEFUNDSContinuedGNASRedevelopmentFundStatementofRevenuesExpendituresandChangesinFundBalanceBudgetandActualScheduleofExpendituresAdministrationDepartmentBudgetandActualGNASCaretakerFundStatementofRevenuesExpendituresandChangesinFundBalanceBudgetandActualScheduleofExpendituresBudgetandActualSpecialTaxAllocationFundStatementofRevenuesExpendituresandChangesinFundBalanceBudgetandActualDEBTSERVICEFUNDSCombiningBalanceSheetCombiningStatementofRevenuesExpendituresandChangesinFundBalancesCombiningStatementofRevenuesExpendituresandChangesinFundBalancesBudgetandActualCAPITALPROJECTSFUNDSCombiningBalanceSheetCombiningStatementofRevenuesExpendituresandChangesinFundBalancesCombiningStatementofRevenuesExpendituresandChangesinFundBalancesBudgetandActualScheduleofDetailedExpendituresBudgetandActualGNASBondFundSeries1995Pages757677788081828384858687888990939495 VILLAGEOFGLENVIEWIJLINOISTABLEOFCONTENTSContinuedSTATISTICALSECTIONContinuedADDITIONALDISCLOSURESREQDBYSECRULE15c212ContinuedGeneralFundSummaryStatementofRevenuesExpendituresandChangesinFundBalance19972001and2002BudgetBalanceSheets19972001CombinedStatementAllFundsFundBalances19972000andSummary2001RevenuesExcessRevenuesandFundBalancesFixedAssetsatDecember312001Pages174174175177I CertificateofAchievementforExcellenceinFinancialReportingPresentedtoVillageofGlenviewIllinoisForitsComprehensiveAnnualFinancialReportfortheFiscalYearEndedDecember312001ACertificateofAchievementforExcellenceinFinancialReportingispresentedbytheGovernmentFinanceOfficersAssociationoftheUnitedStatesandCanadatogovernmentunitsandpublicemployeeretirementsystemswhosecomprehensiveannualfinancialreportsCAFRsachievethehigheststandardsingovernmentaccotmtingandfinancialreportingPresidentExecutiveDirectoriii IIiVILLAGEOFGLENVIEWILLINOISPRINCIPALOFFICIALSDecember312002IIIIIIIIIIIIIIIRachelCookMaryBethDenefeJeffreyMLernerLEGISLATIVEVillageBoardofTrusteesLawrenceRCarlsonVillagePresidentPaulTMcCarthyVillageClerkTreasurerEXECUTIVEPaulTMcCarthyVillageManagerFINANCEDEPARTMENTDanielPWiersmaDirectorofFinanceDanielaPartipiloAssistantDirectorofFinanceiJohnDCrawfordMichaelJGuinaneDonnaPappo I IGliageiiewIJuly22003IIIIIIIIIIIIIHonorablePresidentandMembersoftheBoardofTrusteesCitizensoftheVillageofGlenviewThecomprehensivemmualfinancialreportoftheVillageofGlenviewtheVillagefortheyearendedDecember312002issubmittedherewithThisreportrepresentsacomprehensivepictureoftheVillagesfinancialactivitiesduring2002andthefinancialconditionofitsvariousfundsatDecember312002AlthoughformallyaddressedtotheelectedofficialsandcitizensofGlenviewthisfinancialreporthasnumerousotherusersForemostamongtheotherusersarethebondholdersoftheVillagefinancialinstitutionseducationalinstitutionsandothergovernmentalentitiesResponsibilityforboththeaccuracyofthedatapresentedaswellasthecompletenessandfairnessofthepresentationincludingalldisclosuresrestswiththeVillageWebelievethedataaspresentedisaccurateinallmaterialrespectsthatitispresentedinamannerdesignedtofairlysetforththefinancialpositionoftheVillageandtheresultsofitsoperationsasmeasuredbythefinancialactivityofitsvariousfundsandthatalldisclosuresnecessarytoenablethereadertogainthemaximumunderstandingoftheVillagesfinancialaffairshavebeenincludedThecomprehensiveaunualfinancialreportispresentedinthreesectionsintroductoryfinancialandstatisticalTheintroductorysectionincludesthistransmittallettertheVillagesorganizationalchartandalistofprincipalofficialsThefinancialsectionincludesthegeneralpurposefinancialstatementsandthecombiningindividualfundandaccountgroupfinancialstatementsandschedulesaswellastheindependentauditorsreportonthefinancialstatementsandschedulesThestatisticalsectionincludesselectedfinancialanddemographicinformationgenerallypresentedonamultiyearbasisaswellasallcontinuingdisclosuresrequiredbySecuritiesExchangeCommissionRule15c2i2TheReportingEntityanditsServicesTheVillageofGlenviewwasincorporatedin1899andoperatesunderthecouncilmanagerformofgoverunentItisahomerulemmicipalityasdefinedbytheIllinoisConstitutionLocatedapproximately20milesnorthoftheCityofChicagoinCookCountytheVillageoccupiesalandareaof1327squaremilesandhasacertified2000Censusof41847Thisfigurerepresentsanincreaseof3410or887fromthe1990Census1225WaukeganRoadGlenviewIllinoisB002584772417008477244232TDD TheVillageprovidesafullrangeofgeneralgovernmentalservicesSpecificallytheVillageprovidespoliceandfireprotectionhealthserviceswaterandsewerutilitiesconstructionandmaintenanceofstreetscodeenforcementplarmingandzoningandgeneraladministrativeservicesThefinancialreportingentityoftheVillageofGlenviewiscomprisedofallfundsandaccountgroupsoftheprimarygovernmentietheVillageofGlenviewaslegallydefinedanditspensiontrustfundstheGlenviewPolicePensionFundandtheGlenviewFirefightersPensionFundThesefundsweredeterminedtobepensiontrustfundsduetotheirfiduciaryandfiscalrelationshipswiththeVillageastheirsolepurposeistoprovideretirementbenefitstotheVillagesswornpoliceofficersandfirefightersTheGlenviewPublicLibraryisincludedasadiscretepresentationsinceaseparatelyelectedboardoftrusteesgovernsitNootherlegallyseparateentityqualifiesasacomponentunitoftheVillageEconomicConditionandOutlookThereareseveralmeasuresofeconomichealthforlocalgovernmentsPerhapsfourofthemoreobjectivemeasuresorindicatorsarelocalemploymentlevelsretailsalesactivityfamilyincomelevelsandconstructionactivityEmploymentlevelsintheVillagehavealwayssurpassedthatofCookCountyandtheStateofIllinoisasawholeAsofDecember312002theVillagesunemploymentratewas44comparedto71forCookCounty63fortheStateofIllinoisand57fortheUnitedStatesRetailsaleswithintheVillagetotaled876millionfor2002Thisrepresentsanincreaseof158millionor220fiom2001TheVillageexpectsretailssalestocontinuetogrowassignificantadditionalretailspacecurrentlyunderconstructioncomesonlineMedianfamilyincomefiguresfromthe2000CensusshowthattheaverageincomeofGlenviewresidentsfarexceedscountyandstateaveragesAccordingtotheCensusBureauGlenviews2000medianfamilyincomewas96552comparedto53784forCookCounty55545fortheStateofIllinoisand50046fortheUnitedStatesThisrankedGlenviewasthefifthwealthiestcommunityintheStateoflllinoisamongstcommunitieswithpopulationsover25000TheVillagealsorankedfifthintermsofmedianhouseholdincomeForanumberofyearstherewasnosubstantialnewcommercialorresidentialconstructionactivitywithintheVillageaslittlevacantlandwasavailablefordevelopmentHoweverconstructionactivityhasincreaseddramaticallyasthe1100acreformerGlenviewNavalAirStationTheGlenhaddevelopedThroughoutthewholeVillageduring2002therewere24newcommercialdevelopmentsconstructedwithatotalvalueof42millionand376newresidentialhousingpermitsissuedV MajorInitiativesFortheYear2002wasanotheryearofsignificantadvancesintheVillageseffortstoredevelopTheGlenTheNavyandtheVillagecametoagreementontheEconomicDevelopmentConveyanceoftheNavybasein1998AsaresultofthelanduseplanandthemassiveinfiastructureimprovementsneededtoachievethatplantheVillagehasacquiredthe1100acrebasepropertyforapproximately21millionAsofDecember312002morethan1075acreshadbeendeededtotheVillageTheremainderofthepropertywillbetransferredtotheVillageoncetheNavycompletesallrequiredenvironmentalcleanupwhichisanticipatedtooccurbytheendof2003Constructionbeganin1998ontheinitialinfrastructureimprovementsandisexpectedtocontinueinto2004Inadditionin1998theVillageestablishedaTaxIncrementFinancingDistrictTIForDistrictwhichencompassesTheGlenTheTIFwascreatedasariskmanagementtooltofacilitatetheredevelopmentoftheDistrictItistheVillagesintenttoclosetheDistrictwhenthecostsassociatedwiththeredevelopmenthavebeenfullyaddressedAsaresultoftheextensiveworktodevelopadatabaseof1200marketingcontactsRFPswerereceivedfrom57developergroupsin1998ontheparcelsofferedfordevelopmentFollowinganalysisofthebidsreceiveditwasdeterminedthatallparcelsreceivedmultiplebidsfromqualifieddevelopersNegotiationswereconcludedwithdevelopersresultinginthereceiptsof85millioninlandsalesin199942millionduring2000and33millionin2001and2millionin2002During1999theVillageestablishedtheVillagePermanentFundTheVillagetransfers20oftheLandSalesproceedsintothisfundforVillagewideimprovementsaswellasprovidingliquiditytotheTiteprojectintheneartermFortheFuture2003isexpectedtobeanotheractiveyearrelativetotheredevelopmentofTheGlenwithapproximately44millionofinfrastructureconstructionscheduledTheRedevelopmentstaffhasbeennegotiatingwithdevelopersontheremainingparcelsanditisanticipatedthatthebalanceoftheparcelswillbesoldin2003ThefocusduringtheyearwillbeontheactivitiessurroundingtheOctoberopeningoftheMixedUseRetailCenterMURCaridworkingwithdeveloperstosecuretheoptimalbusinessmixDuring2002theVillagebegantheprocesstoupdateitsComprehensivePlanItisanticipatedthatthisprocesswilltake15to18monthsandwillprovidetheVillagewithacontextforfuturedevelopmentthroughouttheVillageOthernotableprojectsfor2003includethecompletionofaspaceutilizationstudytodeterminethemostefficientmeanstoaddresstheneedsofthePoliceDepartmenttheconstructionoftwoadditionalfirestationstoensureappropriateresponsetimesthroughouttheVillageandtheimplementationofnewenterprisewidesoftwaretoassisttheAdministrationandallDepartmentsincollectingandmanagingdataviIIIIIIIIIItIIIIIIII IIIIIIIIIIIFinancialInformationManagementoftheVillageisresponsibleforestablishingandmaintaininginternalcontrolsdesignedtoensurethattheassetsoftheVillageareprotectedfromlosstheftormisuseandtoensurethatadequateaccountingdataiscompiledtoallowforthetimelypreparationoffinancialstatementsinconformitywithgenerallyacceptedaccountingprinciplesInternalcontrolsaredesignedtoprovidereasonablebutnotabsoluteassurancethattheseobjectivesaremetTheconceptofreasonableassurancerecognizesthat1thecostofacontrolshouldnotexceedthebenefitslikelytobederivedand2thevaluationofthecostsandbenefitsrequiresestimatesandjudgementsbymanagementBudgetaryControlTheobjectiveofbudgetarycontrolsistoensurecompliancewithlegalprovisionsembodiedinthemmualbudgetadoptedbytheVillagesgoverningbodyThebudgetcoversactivitiesofthegeneralspecialrevenuedebtserviceenterpriseinternalserviceandcertaincapitalandfiduciaryfundtypesThelevelofbudgetarycontrolthatisthelevelatwhichexpenditurescannotexceedthebudgetedmountisestablishedatthefundlevelGeneralGovernmentFunctionsThefollowingtablepresentsasummaryofrevenuesavailableforgeneralgovernmentalfunctionstheGeneralSpecialRevenueDebtServiceFundsandcomponentunitLibraryFundsfortheyearendedDecember312002withcomparisonstothepreviousyearIncreasePercent2002PercentDecreaseIncreaseRevenuesAmountofTotalFrom2001DecreasePropertyTaxes14361014338925897452200OtherTaxes47929051131160971325TotalTaxes19153919452024287741452LicensesandPermits24154835703945171404Intergovemmental16161326381415908051092ChargesforServices28436086711365048FinesandForfeits2749610654125148InterestEarnings6015131425516074784Miscellaneous9192072187945324636TotalRevenues42370017100002288448571Totalgeneralgovermnentalrevenuesfortheyearamountedto42370017increaseof2288448or571over2001viiThisrepresentsan Propertytaxrevenuesforgeneralgovernmentalpurposesreflectanincreaseof2589745or2200Ofthisamount2384569or9208oftheincreaseistheresultofpropertytaxincrementreceivedintheSpecialTaxAllocationFundOtherTaxestotaled4792905representingadecreaseof160971or325ThemostsignificantcomponentsofOtherTaxesaretheUtilityTaxwhichamountedto4119522adecreaseof067andtheHotelTaxwhichgenerated615083adecreaseof1779Revenuefiomthesaleoflicensesandpermitstotaled2415483adecreaseof394517or1404comparedto2001OfthetotalBuildingpermitrevenuetotaled1990966adecreaseof4175625adecreaseo1734fromtherecordhigh2408528ofBuildingpermitssoldin2001WhileamajorityofthepermitrevenueisassociatedwithdevelopmentatTheGlenasignificantportionisalsoattributabletobuildingactivitythroughouttheVillageandanindicatoroftheareasstrongeconomyIntergovernmentalrevenuesincreased1590805to16161326anincreaseof1092over2001ThelargestsinglecomponentofincreaseinthisrevenuecategoryisSalesTaxwhichtotaled8765038anincreaseors1581032or2200over2001StatesharedrevenuesingeneralweredownwiththemostnoticeabledecreasereflectedintheVillagesshareofStateIncomeTaxthattotaled2745035adecreaseof218451or737ChargesforServiceswereflatasreceiptsincreased13650to2843608ThelargestcomponentofthisrevenuecategoryisEngineeringfeeswhichdecreasedfrom501406in2001to297085in2002TheprimarycauseforthisreductionisthatasignificantportionoftheEngineeringworkregardingTheGlenhasbeencompletedInterestearningsinthosefundsprovidinggeneralgovernmentalfunctionstotaled601513adecreaseof551607or478420022001InterestInterestIncreaseFundTypeEarningsEarningsDecreaseGeneral401213769833368620SpecialRevenue6358310062937046DebtService9668217919182509LibraryComponentUnit4003510346763432TOTAL6015131153120551607ThedecreaseininterestearningsforallFundTypesisreflectiveofthedropinshortterminterestratesinadditionaportionofthedecreaseforthedebtservicefundscanbeattributedtothefactthatcapitalizedinterestwhichgeneratedinteresteamingsinprioryearshasbeenexpendedleavingfewerdollarsavailableforinvestmentviiiIIIIIIiIiIIIIIIII IIIIIIIIIIIIIIIIIIIMiscellaneousrevenuestotaled919207for2002adecreaseof794532or4636fiom2001Includedinthe2001amountwas956654attributabletolandsalesunrelatedtoTheGlenFollowingisatableshowingexpendituresbyserviceareawithcomparisonstothepreviousyearforthegeneralspecialrevenuedebtserviceandcomponentunitLibraryfundsIncreasePercent2002PercentDecreaseIncreaseExpendituresAmountofTotalfrom2001DecreaseGeneralGoverrmaent109997662383726439707PublicSafety163145363535435000274HighwaysandStreets61331431329237623403Miscellaneous717910156882721095CultureandRecreation3900090845161407432DebtService8085655175226072894759TotalExpenditures46151100100004079486970Totalexpendituresforgeneralgovernmentalfunctionsin2002were46151100anincreaseof4079486or970over2001Generalgovernmentalexpenditurestotaled10999766anincreaseof726439or707ThisincreaseisprimarilyduetotheprogressionofemployeesonthestepplanandincreasedinsurancecostsExpendituresinthePublicSafetycategorytotaled16314536anincreaseof435000or274andisprimarilyduetotheadditionofpersonneltheprogressionofemployeesonthestepplanandincreasedpensioncostsExpendituresinthehighwaysandstreetscategorytotaled6133143in2002anincreaseof237623or403comparedto2001Debtserviceexpendituresamountedto8085655comparedto5478366in2001anincreaseof2607289or4759ThisincreaseistheresultoftheVillageissuingbondstorefinanceoutstandingdebtandrealizenetpresentvaluesavingofapproximately250000or375GeneralFundBalanceTheGeneralFundended2002withanexcessofrevenuesandotherfinancingsourcesoverexpendituresandotherfinancingusesof1960129RevenuesexceededtheBudgetby144833or0005andexpenditureswere1897183or628lessthanbudgetedTheresultbroughttheundesignatedfundbalanceto14553994atDecember312002theequivalentof4880ofactual2002expendituresandtransfersix EnterpriseOperationsTheVillagehasfiveenterpriseoperationsaccountedforinitsfinancialstatementstheWaterworksFundtheWholesaleWaterFundtheSewerageFundtheNorthMaineWaterandSewerFundandtheCommuterParkingLotFundTheWaterworksFundrecordednetincomeof800107fortheyearendedDecember312002Thefinancialconditionofthefundremainsstrongwithcashandinvestmentstotaling3691445TheWholesaleWaterFundrecordedanetlossof112728fortheyearresultinginretainedearningsof451575ThenetlosshasoccurredastheVillagehasbeentransferringfundsfromtheWholesaleWaterFundtoCapitalImprovementsTheamounttransferredwillbereducedinthefutureTheNorthMaineWaterandSewerFundrecordednetincomeof38368for2002TheFundendedtheyearwithcashandinvestmentsof989238TheSewerageFundrecordedanetincomeof249194for2002andendedtheyearwithcashandinvestmentsof331568FinallytheConmuterParkingLotFundrecordednetincomeof59989for2002andendedtheyearwithcashandinvestmentsof846826Ofthecashandinvestmenttotal534944isagrantfromDCCAtobeusedfortheconstructionofthenewtrainstationatTheGlenEmployeePensionsThePohcePensmnFundcoverspohceswornpersomelandtheFrefightesPensionFundcoversswornfirefightersBothoftheseplansaredefinedbenefitsingleemployerplansadministeredbylocalboardsoftrusteesStatestatutesgovernthebenefitsandemployerandemployeecontributionlevelsDuring2002theVillageretainedtheservicesofindependentactuarytoperformanactuarialvaluationonthepoliceandfirefighterpensionplansasofDecember312001FollowingissmmnaryinformationforthetwofundsPoliceFirefightersPensionFundPensionFundActuarialAccruedLiability1231013172824140548063ValuePlanAssets1231012938037741979483PercentFunded123101926010353ValueofNetAssets1231023106043544326852ChangeinNetAssetsFYE12310216800582347369XIIIIIIIiIIIIIIIIIII IIIIIIIIIIIIIIIIIIIIn1993theStateofIllinoisincreasedthebenefitsprovidedtopoliceandfirefighterpensionfiredbeneficiariesThechangesincreasedthepensionbenefitobligationofbothfundsbutespeciallythatofthepolicepnsionfundwhereaprovisionwasmadetocompoundannualincreasesinpensionbenefitsMunicipalitieshaveuntiltheyear2033tofullyfundtheirpoliceandfirefighterpensionplansThepurposeofmarkingtomarketistoshowthevalueorafundatagivenpointintimePracticallyhoweverasthesefimdsdonothavecashflowproblemswhichwouldrequireliquidatingpositionstheselossesareonlyforreportingpurposesAllotheremployeesoftheVillagewhoworkatleast1000hoursperyeararecoveredbytheIllinoisMunicipalRetirementFundIMRFastatewidepensionplanIMRFactsastheadministrativeagentforlocalgovernmentsinIllinoisBenefitprovisionsandfundingrequirementsareestablishedbystatestatuteAtDecember312002theVillagewas10067fundedinIMRFDebtAdministrationInFebruary2002theVillageissued6855000ofgeneralobligationdebttorefundvariousoutstandingissuesAtthattimeMoodysInvestorsServiceaffirmedtheVillagesAaageneralobligationbondratinginitiallyassignedin1993AtDecember312002theVillagehad97340000ofgeneralobligationbondsoutstandingOfthisamount90195000isreflectedinthegenerallongtermdebtaccountgroupand7145000isrecordeddirectlyinthreeenterprisefundsTherewasalso2438674ofgeneralobligationnotesoutstandingatDecember312002AtDecember312002therewas1048923availableinthevariousdebtservicefundsforthepaymentofprincipalandinterestresultinginanetbondeddebtof89141008TheratioofnetbondeddebttoassessedvalueandtheamountofnetbondeddebtpercapitaareusefulindicatorsoramunicipalitysdebtpositionThisdataasofDecember312002isasfollowsNetGeneralObligationDebt89146077RatioofNetDebttoAssessedValue575RatioofNetDebttoActualValue192NetDebtPerCapita213029Ofthe213016netdebtpercapita20748ispayablefrompropertytaxeswhilethebalance192268isselfsupportingdebtwhichresultsintheabatementofpropertytaxesfromEnterpriseFundsandtheGlenRedevelopmentFundsAdditionalinformationabouttheVillagesoutstandingdebtcanbefoundinthenotestothefinancialstatementsandthestatisticalsectionofthisreportPropertyTaxInformationThecountyassessorsofficesareresponsiblefordeterminingtheassessedvalueofrealpropertyutilizingmarketvaluesandestablishedassessmentratiosinIllinoisTheStateofIllinoisthenassignsanequalizationfactortoeachcountyinanattempttogetallpropertiesinthestateassessedatapproximately33ofmarketvaluePropertytaxesarebasedupontheequalizedassessedvalueEAVofalltaxablepropertiesAgovernmentstaxrateisdeterminedbydividingitstaxlevyintoitstotalEAVadjustingforanyratelimitationswhichmightbeapplicablexi Atthetimethisreportwaspreparedinformationregardingthetaxratqsandassessedvaluesforthe2002taxlevyyearwerenotyetavailableTheVillages2001totalequalizedassessedvaluationwas1511642699a231increasefromthe2000levyyearTheVillagesandtheLibrarycomponentunitscombinedtaxratedecreasedfrom0940for2000to0771for2001TheprimaryreasonforthesignificantincreaseinequahzedassessedvaluationandtheassociateddecreaseintaxratewhileboththeVillageandLibraryleviedessentiallythesameamountsinbothyearsistheeffectoftheStatesEqualizationfactorforCookCountyOnethirdofCookCountyisreassessedeachyearandintheyearinwhichtheCityofChicagoisreassessedtheeffecthasbeenareductionintheStateEqualizerastheoreticallytheassessedvaluationinclosertomarketTheCityofChicagowasreassessedin2000andVillagesreassessmentin2001resultedintheabovenotedincreaseFollowingisasummaryoftheVillagestaxratesforthepastthreeyearsFund200120001999GeneralFund322426430SpecialRevenueFunds033042042DebtServiceFunds117152146PensionTrustFunds072051034SubtotalVillage544671652Library227259251TotalCombinedTaxRate771940903AdditionalinformationregardingtheVillagestaxratesassessedvaluesandtaxcollectionscanbefoundinthestatisticalsectionofthisreportCashManagementTheVillagespolicyregardingcashmanagementisbasedupontherealizationthatthereisatimevaluetomoneyAhighpriorityisplacedonprocedurestoensurethatmoniesduetheVillagearecollectedanddepositedaspromptlyaspossibleDisbursementsarecloselycontrolledOfequalimportanceistheemphasisonthemanagementoftheVillagesinvestmentportfolioAllidlecashisinvestedinaccordancewithanestablishedinvestmentpolicyTheinvestmentpolicyestablishessafetyofprincipalastheforemostobjectiveThepolicyprovidesforfullcollateralizationofalldepositsinexcessofFDIClimitsTheVillageisnotpermittedtoleverageitsportfolioorinvestinriskyderivativesAlloftheVillagesDepositsandInvestmentsareACategory1meaningthatallDepositsarecoveredbyfederaldepositoryinsuranceorbycollateralheldbytheVillageoritsagentintheVillagesnameandallInvestmentsareinsuredorregisteredorareheldbytheVillageoritsagentintheVillagesnamexiiIIIIIIIIiIIIIIIIIII FollowingisasummaryoftotalinvestmentearningsandweightedaverageyieldsforeachofthevariousfundtypesInvestmentIncomeYearEndedFundType123102AverageYieldGeneralFund401213313SpecialRevenueFunds63583231DebtServiceFunds96682258CapitalProjectFunds3870267254EnterpriseFunds137943239InternalServiceFunds72539229ExpendableTrustFunds118588233Totals4760815261RiskManagementTheVillagemaintainsaprotectedriskretentionprogramforpropertycasualtyandworkerscompensationclaimsHealthinsuranceforemployeesandretireesisprovidedthroughapublicentityriskpoolAggregateumbrellaliabilitycoverageisprovidedthroughtheVillagesmembershpintheHighlevelExcessLiabilityPoolanotherpublicentityriskpoolTheVillagesinsuranceactivityisaccountedforinanintemalservicefundFortheyearendedDecember312002theInsuranceFundreportedanetlossof14413RetainedearningsatDecember312002amountedto3538071OtherInformationIndependentAuditStatestatutesrequireanannualauditbyindependentcertifiedpublicaccountantsTheaccountingfirnofSikichGardnerCoLLPperfornedtheauditontheVillages2002financialstatementsTheindependentauditorsreportisincludedinthefinancialsectionofthisreportTheauditorshavegiventhisreportanunqualifiedopinionmeaningthatthefinancialstatementsfairlypresenttheVillagesfinancialpositionatDecember312002andtheresultsofoperationsfortheyearthenendedAwardsTheGovernmentFinanceOfficersAssociationoftheUnitedStatesandCanadaGFOAawardedaCertificateofAchievementforExcellenceinFinancialReportingtotheVillageofGlenviewforitscomprehensiveannualfinancialreportCAFRforthefiscalyearendedDecember312001TheCertificateofAchievementisaprestigiousnationalawardrecognizingconformancewiththehigheststandardsforpreparationofstateandlocalgovenLmentfinancialreportsxiii InordertobeawardedaCertificateoAchievementagoverrmentmustpublishaneasilyreadableandefficientlyorganizedcomprehensiveannualfinancialreportwhosecontentsconformtoprogramstandardsTheCAFRnmstsatisfybothgenerallyacceptedaccountingprinciplesandapplicablelegalrequirementsACertificateofAchievementisvalidforaperiodofoneyearonlyTheVillageofGlenviewhasreceivedaCertificateofAchievementfortwentyconsecutiveyearsfiscalyearsended19822001WebelieveourcurrentreportcontinuestoconformtotheCertificateofAchievementprogramrequirementsandwillbesubmittingittoGFOAAcknowledgmentsThepreparationofthecomprehensivearmualfinancialreportonatimelybasiswasmadepossiblebythededicatedserviceoftheentirestaffoftheFinanceDepartmentEachmemberoftheDepartmenthasmysincereappreciationforthecontributionsmadeinthepreparationofthiseporInparticularIwouldliketoacknowledgetheexcellentworkofDanielaPartipiloAssistantFinanceDirectorandOscarRichardsonStaffAccountantfortheireffortsincompilingthemountainofdatanecessarytocompletethisreportFinallyappreciationisexpressedtotheVillagePresidentandBoardofTrusteesandtheVillageManagerfortheirleadershipandsupportinplanningandconductingthefiscalaffairsotheVillageinaresponsiblemannerRespectfullybmittedDanielPWiersmaDirectorofFinancexivIIIIIIIIIIIIIIIIIII INDEPENDENTAUDITORSREPORT SikichGardnerCoLLPAccountantsConsultants998CorporateBoulevardAuroraIL60504AMemberofSikichGroupLLCMEMBERSOFAMERICANINSTITUTEOFCErTIFiEDPUBLICACCOUNTANTSLLINOISCPASOCIETYINDEPENDENTAUDITORSREPORTTheHonorableVillagePresidentMembersoftheBoardofTrusteesVillageofGlenviewGlenviewIllinoisWehaveauditedthegeneralpurposefinancialstatementsandthecombiningindividualfundandaccountgroupfinancialstatementsoftheVillageofGlenviewIllinoisasofandfortheyearendedDecember312002aslistedintheaccompanyingtableofcontentsThesefinancialstatementsaretheresponsibilityoftheVillageofGlenviewIllinoismanagementourresponsibilityistoexpressmopiniononthesefinancialstatementsbasedonourauditWeconductedourauditinaccordancewithauditingstandardsgenerallyacceptedintheUnitedStatesofAmericaandthestandardsapplicabletofinancialauditscontainedinGovernmentAuditingStandardsissuedbytheComptrollerGeneraloftheUnitedStatesThosestandardsrequirethatweplanandperformtheaudittoobtainreasonableassuranceaboutwhetherthefinancialstatementsarefreeofmaterialmisstatementAnauditincludesexaminingonatestbasisevidencesupportingtheamountsanddisclosuresinthefinancialstatementsAnauditalsoincludesassessingtheaccountingprinciplesusedandsignificantestimatesmadebymanagementaswellasevaluatingtheoverallfinancialstatementpresentationWebelievethatourauditprovidesareasonablebasisforouropinionInouropinionthegeneralpurposefinancialstatementsreferredtoabovepresentfairlyinallmaterialrespectsthefinancialpositionoftheVillageofGlenviewIllinoisasofDecember312002andtheresultsofitsoperationsandthecashflovsofitsproprietaryfundtypesfortheyearthenendedinconformitywithaccountingprinciplesgenerallyacceptedintheUnitedStatesofAmericaAlsoinouropinionthecombiningindividualfundandaccountgroupfinancialstatementsreferredtoabovepresentfairlyinailmaterialrespectsthefinancialpositionofeachoftheindividualfundsandaccountgroupsoftheVillageofGlenviewIIIinoisasofDecember312002andtheresultsofoperationsofsuchfundsandthecashflowsofindividualproprietaryfundsfortheyearthenendedinconformitywithaccountingprinciplesgenerallyacceptedintheUnitedStatesofAmerica1 IIIIIIIIIIIIIIIIIIInaccordancewithGovernmentAuditingStandardswehavealsoissuedourreportdatedMay92003onourconsiderationoftheVillageofGlenviewIllinoisinternalcontroloverfinancialreportingandourtestsofitscompliancewithcertainprovisionsoflawsregulationscontractsandgrantsThatreportisanintegralpartofanauditperformedinaccordancewithGovernmentAuditingStandardsandshouldbemadinconjunctionwiththisreportinconsideringtheresultsofourauditOurauditwasmadeforthepurposeofforminganopiniononthegeneralpurposefinancialstatementstakenasawholeandonthecombiningindividualfiredandaccountgroupfinancialstatementsTheaccompanyingschedulesandthesupplementaldatalistedintheaccompanyingtableofcontentsispresentedforpurposesofadditionaIanalysisandisnotarequiredpartofthefinancialstatementsoftheVillageofGlenviewIllinoisSuchinformationhasbeensubjectedtotheauditingproceduresappliedintheauditofthegeneralpurposecombiningindividualfundandaccountgroupfinancialstatementsandinouropinionisfairlypresentedinallmaterialrespectsinrelationtothegeneralpurposefinancialstatementsandeachofthecombiningindividualfundandaccountgroupfinancialstatementstakenasawholeTherequiredsupplementaryinformationlistedinthetableofcontentsisnotarequiredpartofthegeneralpurposefinancialstatementsbutissupplementaryinformationrequiredbytheGovernmentalAccountingStandardsBoardWehaveappliedcertainlimitedprocedureswhichconsistedprincipallyofinquiriesofmanagementregardingthemethodsofmeasurementandpresentationofthesupplementaryinformationHoweverwedidnotaudittheinformationandexpressnoopiniononitTheintroductoryandstatisticalinformationlistedinthetableofcontentswasnotauditedbyusandaccordinglywedonotexpressanopinionthereonAuroraIllinoisMay920032 Thispageisintentionallyleftblank VILLAGEOFGLENVIEWILLINOISCOMBINEDBALANCESHEETALLFLrNDTYPESACCOUNTGROUPSANDDISCRETELYPRESENTEDCOMPONENTUNITDeceraber312002withcomparativetotalsfor2001ASSETSANDOTHERDEBITSASSETSCashInvestmentsReceivablesnetwhereapplicableofallowancesforuncollectiblesPropertytaxesOthertaxesGrantInterestOtherAdvancestootherfundsDuefromotherfundsinventoryPrepaiditemsexpensesDepositsDeferredbondissuancecostsDeferredacquisitioncostsFixedassetsnetofaccumulateddepreciationOTHERDEBITSAmountavailablefordebtserviceAmounttobeprovidedforretirementofgenerailongtermdebtTOTALASSETSANDOTHERDEBITSGovernmentalFundTypesSpecialDebtCapitalGeneralRevenueServiceProjects215202310571624828530794556128799802901596100570710242748357313793688800945755000001726271192573115868100555185501310006719991135738360111821293972992492483147061812780263151561175 FiduciaryAccountGroupsPropretaryFundTpesFundTypesGeneralGeneralInternalTrustandFixedLongTermEntelriseServiceAencyAssesDebtTotalsPrimaryTotalsGovernmentReportingEntityMemondurnComponentMemorandumOnlyOnlyUnit200220012753269792587240836435762682170000779341694000624682943340835679652520120289520334000020323520326844821326381539967265929071759549026178893332036623346827754396712543647002721453780830864205717122888033688800368880094626869A6268613575230953666383603836030844130844113841419138414191052551052557404617404616178861788933320366239333203662311424457231290890689013231182644722659290395395887912480231437638903723820029784619412795524598676587761479358104892310489231048923281152489146077891460778914607791488476464799254004t74380472669272145379019500043233932410952057443291381459239367Thisstatementiscontinuedonthefollowingpages4 VILLAGEOFGLENVIEWILLINOISCOMBINEDBALANCESHEETALLFUNDTYPESACCOUNTGROUPSANDDISCRETELYPRESENTEDCOMPONENTUNITDecember312002withcomparativetotalsfor2001LIABILITIESANDEQUITYANDOTHERCREDITSLIABILITIESAccountspayableClaimspayableAccruedpayrollInterestpayableCompensatedabsencespayablehnfrastmcturemaintenancefeeOtherpayablesBankoverdraftDefendrevenuesDuetootherfundsAdvancefromothergovernmentsAdvancefromotherfundsDefemxtpropertytaxesAthitragepayableDuetobondholdersRefundabledepositsNotespayableGeneralobligationbondspayableUnamortizedbonddiscountTotalliabilitiesEQUITYANDOTHERCREDITSContributedcapitalInvesWaentingeneralfixedassetsRetainedearningsunreservedFundbalancesReservedforadvancestootherfundsReservedforprepaiditemsReservedforemployeesretirementsystemReservedfordebtserviceReservedforcapitalimprovementsReservedforPattonHouseUnreservedDesignatedforincometaxsurchargereceiptsUndesignatedTotalequityandothercreditsTOTALLIABILITIESANDEQUITYANDOTHERCREDITSGovernmentalFundTypesSpecialDebtCapitalGeneralRevenueServiceProjects349836303399100907167lg239740172834111980112966440022182025731379500000506917262711789021066733553180781384141990259899414021731340387230621118212910489231052091101000013348481455399437647793553126158988423764779104892311283811324924831S470618127802631515611755 FiduciaryAccountGroupsProprietaryFundTypesFundTypesGeneralGeneralInternalTrustandFixedLongTermEnterpriseServiceAgencyAssetsDebtTotalsPrimaryGovernmentMemorandumOlyTotalsReportingEntityComponentMemorandumOnlyUnit200220011026468937701765856320181229265678144751529966802364681938324386747145000578372534810830847001798374539779196890317383119762862176585176585100907379291388366827068270175305276151829467974017974017256156256156732499849026737402474046174046113841419795765047001798374539779243867490195000973400005783742057171384141912163367470017983745397792438674973400005783711475069377865485797290195000157327699444291816177061714406249298098343729961117627512316649288982952141242050572719138879122971742659290112921001950771789803844100252905810180000060679121350761213507612135076636639327214537272145375524598327391353269571222869780362687826496658264966582562175175387287111821291118212914036375387287753872877135986010489231048923281152410520911010520911016313781610000100001000013348481334848133484822741014993057984541159775981169860835004856362687875614697272145372750116256509139281520764315176875464799254004743807472669272145379019500043233932410952057443291381459239367Seeaccompanyingnotestofinanciastatements ZZ02 VILLAGEOFGLENVIEWILLINOISCOMBINEDSTATEMENTOFREVENUESEXPENDITURESANDCHANGESINFUNDBALANCESBUDGETANDACTUALALLGOVERNMENTALFUNDTYPESFortheYearEndedDecember312002REVENUESTaxesLicensesandpermitsIntergovernmentalChargesforservicesFinesandforfeitsInvestmentincomeMiscellaneousTotalrevenuesEXPENDITURESCurrentGeneralgovernmentPublicsafetyHighwaysandstreetsMiscellaneousCapitaloutlayDebtservicePrincipalretirementInterestandfiscalchargesTotalexpendituresEXCESSDEFICIENCYOFREVENUESOVEREXPENDITURESOTHERFINANCINGSOURCESUSESOperatingtransfersinOperatingtransfersoutOperatingtransfersincomponentunitTotalotherfinancingsourcesusesEXCESSDEFICIENCYOFREVENUESANDOTHERFINANCINGSOURCESOVEREXPENDITURESANDOTHERFINANCINGUSESFUNDBALANCESJANUARY1PriorperiodadjustmentFUNDBALANCESJANUARY1RESTATEDFUNDBALANCESDECEMBER31GeneralSpecialRevenueBudgetActualBudgetActual1073946010611837606950033552792246700241548313626000148581661200000119051721605751109048154212516044692250002077204750004012134280063555865150879251250059430337885304827188856925621441472965986163725913748248360411650350516013303324314301233640725161331438620007179103020735428310171103237965855184130531217254714668713592301318425128830111207289444798147655815139897040858701913126501265010056210056014548321241815172058434451495219601295033412026751393871325225671393871325225671589884237252429 i1IIIIIDebtServiceCapitalProjectsBudgetActualBudgetActualTotalsMemorandumOnlyBudgetActual17807458880321623029553320360001250862418589705148551482246700241548329580014826000163444831000370270027145172250002077203870267271610244305687118319133762747998164i194304798356514544624112853865568248148966083III1330364615465158216434080109997661682781916314536640725161331438620007179101330364615465158241200002170000412000021700004045542371602240455423716022816554258860221330364615465158218173315394702959I622249549024571184918374336619612605067245736876I4677984405124343102278212438286021941536028299186675643480460234972125466110335579379I1400001200002532122332104677984218448723818221333845811524682130IiIII1544511271797011817300194549958012012391148450547462811524158292122177564926455714557128II52415833769317761049793554112838113132555751Seeaccompanyingnotestofinancialstatements10 VILLAGEOFGLENWIEWILLINOISCOMBINEDSTATEMENTOFREVENUESEXPENSESANDCHANGESINRETAINEDEARNINGSALLPROPRIETARYFUNDTYPESFortheYearEndedDecember312002withcomparativetotalsfor2001IiiIOPERATINGREVENUESChargesforservicesMiscellaneousTotaloperatingrevenuesOPERATINGEXPENSESAdministrationOperationsDepreciationandamortizationTotaloperatingexpensesOPERATINGINCOMELOSSNONOPERATINGREVENUESEXPENSESGainonsaleoffixedassetsInvestmentincomeInterestexpenseandfiscalchargesTotalnonoperatingrevenuesexpensesINCOMELOSSBEFOREOPERATINGTRANSFERSOperatingtransfersinOperatingtransfersoutTotaloperatingtransfersNETINCOMELOSSRETAINEDEARNINGSJANUARY1RETAINEDEARNINGSDECEMBER31ProprietaryFundTypesTotalsInternalMemorandumOnlyEnterpriseService20022001155537444211174197649181905718931378479275411065388107531586752850039282087145619867942944218944218796348980424251862461499048814425154112896079941136954106791811877420519424017071660162894203990I081903123799796357852216233137943725392104823922455163645163645485623784217253930588214008436116871177733493914343843830000300005000026067574225026490072841168257675742250261900727911681034930160023874907647270218348503786901256217512497448122869780S36268782649665825621751Seeaccompanyingnotestofinancialstatements11IIIIIIIiIII i1IIiIiIIIIIIIIIIThispageisimentionallyleftblank VILLAGEOFGLENVIEWILLINOISCOMBINEDSTATEMENTOFCASHFLOWSALLPROPRIETARYFUNDTYPESFortheYearEndedDecember312002withcomparativetotalsfor2001TotalsiICASHFLOWSFROMOPERATINGACTIVITIESOperatingincomelossAdjustmentstoreconcileoperatingincomelosstonetcashfromoperatingactivitiesDepreciationandamortizationChangesinassetsandliabilitiesAccountsreceivableDepositsDuefromotherfundsInventoryPrepaidexpensesAccountspayableClaimspayableCompensatedabsencespayableDeferredrevenuesOtherpayableDuetootherfundsNetcashfromoperatingactivitiesCASHFLOWSFROMNONCAPITALFINANCINGACTIVITIESOperatingtransfersinOperatingtransfersoutNetcashfromnoncapitalfinancingactivitiesCASHFLOWSFROMCAPITALANDRELATEDFINANCINGACTIVITIESFixedassetspurchasedProceedsfromthesaleoffixedassetsIncreaseinadvancestootherfundsPrincipalpaidongeneralobligationbondsPrincipalpaidonnotepayableInterestpaidongeneralobligationbondsNetcashfromcapitalandrelatedfinancingactivitiesInternalMemorandumOnlyEnterpriseService20022001399010819031237997963578522112896079941136954106791876713245040168327333294294842948444288745111613102868210101376513765838219818327298235033237949616857196411196411103374123711237l310471141142186514997149978713611166193833054930965533136180560525080145505183000030000500002606757422502649007284116825767574225026190072791168l2717901271790104725438273418231355000355000340000903849038486134526486526486549764224366022436602403110Thisstatementiscontinuedonthefollowingpage12IIIi1I1IIiII VILLAGEOFGLENVIEWILLINOISCOMBINEDSTATEMENTOFCASHFLOWSContinuedALLPROPRIETARYFUNDTYPESFortheYearEndedDecember312002withcomparativetotalsfor2001IIIIIIII1IIICASHFLOWSFROMINVESTINGACTIVITIESPurchaseofinvestmentsMaturitiesofinvestmentsInvestmentincomereceivedTotalsInternalMemorandumOnlyEnterpriseService200220011876679010139414052891419230184585931379437253821048139328911518844778271629711850923550172017845558668437570152801120866797925873545856152801157686831599006NetcashfrominvestingactivitiesNETINCREASEDECREASEINCASHANDCASHEQUIVALENTS1662828CASHANDCASHEQUIVALENTSJANUARY11090441CASHANDCASHEQUIVALENTSDECEMBER312753269NONCASHTRANSACTIONSDevelopercontributions5768683Seeaccompanyingnotestofinancialstatements13 VILLAGEOFGLENVIEWILLINOISCOMBiNEDSTATEMENTOFCHANGESiNPLANNETASSETSALLPENSIONTRUSTFUNDSFortheYearEndedDecember312002withcomparativetotalsfor2001ADDITIONSContributionsemployerContributionsplanmembersTotalcontributionsInvestmentincomeNetappreciationdepreciationinfairvalueofinvestmentsInterestearnedoninvestmentsTotalinvestmentincomeTotaladditionsDEDUCTIONSPensionsandrefundsMiscellaneousContractualprofessionalservicesTotaldeductionsNETiNCREASENETASSETSHELDiNTRUSTFORPENSIONBENEFITSJanuary1December31200220011067978645534903459861871197143715074053150521246069216846094462654835130290695768065674414362275786723609732127317593277914023785664027427203579671359860693240647538728771359860Seeaccompanyingnotestofinancialstatements14iiIIIIiIIIII1II iIVILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSDecember312002IIIIIIII1iIISUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESThefinancialstatementsoftheVillageofGlenviewIllinoistheVillagehavebeenpreparedinconformitywithaccountingprinciplesgenerallyacceptedintheUnitedStatesofAmericahereinafterreferredtoasgenerallyacceptedaccountingprinciplesGAAPasappliedtogovernmentunitsTheGovernmentalAccountingStandardsBoardGASBistheacceptedstandardsettingbodyforestablishinggovernmentalaccountingandfinancialreportingprinciplesThemoresignificantoftheVillagesaccountingpoliciesaredescribedbelowaReportingEntityTheVillageisamunicipalcorporationgovernedbyanelectedsevenmemberboardAsrequiredbygenerallyacceptedaccountingprinciplesthesefinancialstatementspresenttheVillagetheprimarygovermuentanditscomponentunitsTheVillagesfinancialstatementsincludepensiontrustfundsPolicePensionEmployeesRetirementSystemTheVillagespoliceswornemployeesparticipateinthePolicePensionEmployeesRetirementSystemPPERSPPERSfunctionsforthebenefitoftheseemployeesandisgovernedbyafivememberpensionboardconsistingoftwomembersappointedbytheVillagesPresidentoneelectedpensionbeneficiaryandtwoelectedpoliceTheVillageandPPERSparticipantsareobligatedtofundallPPERScostsbaseduponactuarialvaluationsTheStateoIllinoisisauthorizedtoestablishbenefitlevelsandtheVillageisauthorizedtoapprovetheactuarialassumptionsusedinthedeterminationofcontributionlevelsAlthoughitpossessesmanyofthecharacteristicsoralegallyseparategovernmentthePPERSisreportedasifitwerepartoftheprimarygovernmentbecauseitssolepurposeistofinanceandadministerthepensionsoftheVillagespoliceemployeesandbecauseofthefiduciarynatureofsuchactivitiesThePPERSisreportedasapensiontrustfundi5 VILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinuediSUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESContinuedaReportingEntityContinuedFirefightersPensionEmployeesRetirementSystemTheVillagesfirefightersparticipateintheFirefightersPensionEmployeesRetirementSystemFPERSFPERSfunctionsforthebenefitoftheseemployeesandisgovernedbyaninememberpensionboardconsistingoftheVillagesPresidentTreasurerClerkAttorneyandFireChiefoneelectedpensionbeneficiaryandthreeelectedfireemployeesTheVillageandFPERSparticipantsareobligatedtofundallFPERScostsbaseduponactuarialvaluationsTheStateofIllinoisisauthorizedtoestablishbenefitlevelsandtheVillageisauthorizedtoapprovetheactuarialassmnptionsusedinthedeterminationofcontributionlevelsAlthoughitpossessesmanyofthecharacteristicsofalegallyseparategovernmenttheFPERSisreportedasifitwerepartoftheprimarygovernmentbecauseitssolepurposeistofinanceandadministerthepensionsoftheVillagesfirefightersandbecauseofthefiduciarynatureofsuchactivitiesTheFPERSisreportedasapensiontrustfundDiscretelyPresentedComponentUnitVillageofGlenviewPublicLibrarytheLibraryTheLibraryhasaseparatelyelectedsevenmemberboardwhichannuallydeterminesitsbudgetandresultingtaxlevyUponapprovaloftheVillagethelevyissubmittedtotheCountyAlldebtoftheLibraryissecuredbythefullfaithandcreditoftheVillagewhichiswhollyliableforthedebtBecausetheLibrarypossessesthecharacteristicsofalegallyseparategovernmentanddoesnotservicetheprimarygovernmenttheLibraryisbeingreportedasadiscretepresentationSeparatefinancialstatementsaredisclosedinthecomponentunitportionofthisreporttheLibrarydoesnotissueseparatefinancialstatementsbFundAccountingTheVillageusesfundsandaccountgroupstoreportonitsfinancialpositionresultsofitsoperationsandcashflowsFundaccountingisdesignedtodemonstratelegalcompliauceandtoaidfinancialmanagementbysegregatingtransactionsrelatedtocertaingovernmentfunctionsoractivitiesAfundisaseparateaccountingentitywithaselfbalancingsetofaccountsAnaccountgroupontheotherhandisafinancialreportingdevicedesignedtoprovideaccountabilityforcertainassetsandliabilitiesthatarenotrecordedinthefundsbecausetheydonotdirectlyaffectnetexpendableavailablefinancialresources16IIItIIIIiIIiIII IVILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinuedIIIIIIIIIIlIIIII1SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESContinuedbFundAccountingContinuedFundsareclassifiedintothefollowingcategoriesgovernmentalproprietaryandfiduciaryEachcategoryinturnisdividedintoseparatefundtypesGovernmentalfundsareusedtoaccountforallormostoragovernmentsgeneralactivitiesincludingthecollectionanddisbursementofearmarkedmoniesspecialrevenuefundstheacquisitionorconstructionofgeneralfixedassetscapitalprojectsfundsandtheservicingofgenerallongtermdebtdebtservicefundsThegeneralfundisusedtoaccountforallactivitiesofthegeneralgovernmentnotaccountedforinsomeotherfundProprietaryfundsareusedtoaccountforactivitiessimilartothosefoundintheprivatesectorwherethedeterminationofnetincomeisnecessaryorusefultosoundfinancialadministrationGoodsorservicesfromsuchactivitiescanbeprovidedeithertooutsidepartiesenterprisefundsortootherdepartmentsoragenciesprimarilywithintheVillageinternalservicefundsFiduciaryfundsareusedtoaccountforassetsheldonbehalfofoutsidepartiesincludingothergovermnentsoronbehalfofotherfundswithintheVillageWhentheseassetsareheldunderthetermsoraformaltrustagreementeitherapensiontrustfundoranexpendabletrustfundisusedThetermexpendablereferstowhetherornottheVillageisunderanobligationtomaintainthetrustprincipalAgencyfundsgenerallyareusedtoaccountforassetsthattheVillageholdsonbehalfofothersastheiragentcBasisofAccountingTheaccountingandfinancialreportingtreatmentappliedtoafundisdeterminedbyitsmeasurementfocusAllgoverranentalfundsandexpendabletrustfundsareaccountedforusingacurrentfinancialresourcesmeasurementfocusWiththismeasurementfocusonlycurrentassetsandcurrentliabilitiesgenerallyareincludedonthebalancesheetOperatingstatementsofthesefundspresentincreasesierevenuesandotherfinancingsourcesanddecreasesieexpendituresandotherfinancingusesinnetcurrentassetsAilproprietaryfundsandpensiontrustfundsareaccountedforonaflowofeconomicresourcesmeasurementfocusWiththismeasurementfocusailassetsandaliliabilitiesassociatedwiththeoperationofthesefundsareincludedonthebalancesheetProprietaryfundtypefundequityienettotalassetsissegregatedintocontributedcapitalandretainedearningscomponentsProprietaryfundtypeoperatingstatementspresentincreasesierevenuesanddecreasesieexpensesinnettotalassets17 VILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued1SUMMARYOFSIGNWICACCOUNTINGPOLICIESContinuedcBasisofAccountingContinuedThemodifiedaccrualbasisofaccountingisusedbyallgovernmentalfundtypesexpendabletrustfundsandagencyfundsUnderthemodifiedaccrualbasisofaccountingrevenuesarerecognizedwhensusceptibletoaccrualiewhentheybecomebothmeasurableandavailableMeasurablemeanstheamountofthetransactioncanbedeterminedandavailablemeanscollectiblewithinthecurrentperiodTheVillagerecognizespropertytaxeswhentheybecomebothmeasurableandavailableinaccordancewithGASBCodificationSectionP70intheperiodintendedtofinanceExpendituresarerecordedwhentherelatedfundliabilityisincurredPrincipalandinterestongenerallongtermdebtarerecordedasfundliabilitieswhendueorwhenamountshavebeenaccumulatedinthedebtservicefundforpaymentstobemadeearlyinthefollowingyearThoserevenuessusceptibletoaccrualarepropertytaxesfranchisetaxeslicensesinterestrevenueandchargesforservicesSalestaxesowedtoandfinescollectedandheldbythestatecountycourtatyearendonbehalfoftheVillagealsoarerecognizedasrevenuePermitrevenuesarenotsusceptibletoaccrualbecausegenerallytheyarenotmeasurableuntilreceivedincashTheaccrualbasisofaccountingisutilizedbyproprietaryfundtypesandpensiontrustfundsUnderthismethodrevenuesandadditionsarerecordedwhenearnedandexpensesanddeductionsarerecordedatthetimeliabilitiesareincurredTheVillagereportsdeferredrevenueonitscombinedbalancesheetDeferredrevenuesarisewhenapotentialrevenuedoesnotmeetboththemeasurableandavailablecriteriaforrecognitioninthecurrentperiodDeferredrevenuesalsoarisewhenresourcesarereceivedbytheVillagebeforeithasalegalclaimtothemaswhengrantmoniesarereceivedpriortotheincurrenceofqualifyingexpendituresInsubsequentperiodswhenbothrevenuerecognitioncriteriaaremetorwhentheVillagehasalegalclaimtotheresourcestheliabilityfordeferredrevenueisremovedfromthecombinedbalancesheetandrevenueisrecognizeddBudgetsBudgetsareadoptedonabasisconsistentwithgenerallyacceptedaccountingprinciplesAnnualappropriatedbudgetsareadoptedatthefundlevelfortheGeneralSpecialRevenueexcepttheForeignFireInsuranceFundDebtServiceexcepttheCorporatePurposeBondFundSeriesof2002andCapitalProjectsFundsonthemodifiedaccrualbasisandfortheEnterpriseInternalServiceandPensionTrustFundsontheaccrualbasisTheannualappropriatedbudgetislegallyenactedandprovidesforalegallevelofcontrolatthefundlevelAllarmualappropriationslapseatfiscalyearend18IIII1IIIIIIi VILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinuedI1iIt1IIIiIIIIISUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESContinueddBudgetsContinuedDuringthecurrentyearbudgetswerenotadoptedforthefollowingfundsSpecialRevenueFundsForeignFireInsuranceDebtServiceFundsCorporatePurposeBondFundSeriesof2002ThesourceofrevenueandnatureofexpendituresforthesefundsarenotsubjecttopredictionandthereforebudgetswerenotadoptedBudgetandactualcomparisonsfortheSpecialRevenueFundsandDebtServiceFundsexcludetheaforementionedfundsThefollowingisareconciliationoftheSpecialRevenueFundsandDebtServiceFundspresentedonabudgetarybasistotheGAAPbasispresentationSpecialDebtRevenueServiceFundsFundsFUNDBALANCESBUDGETEDFUNDSDECEMBER312002NONGAAPBASIS382759093554NonbUdgetedfundbalancesForeignFireInsuranceCorporatePurposeBondFundSeriesof20023953795536938671271048923FUNDBALANCESDECEMBER312002GAAPBASISeCashandInvestmentsForpurposesofthestatementofcashflowstheVillagesproprietaryfundtypesconsiderallhighlyliquidinvestmentswithanoriginalmaturityofthreemonthsorlesswhenpurchasedtobecashequivalentsfInvestmentsInaccordancewithGoveramentAccountingStandardBoardStatementNo31allinvestmentsarestatedatfairvalue19 VILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinuedSUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESContinuedgInterfundReceivablesPayablesDuringthecourseofoperationsnumeroustransactionsoccurbetweenindividualfundsforgoodsprovidedorservicesrenderedThesereceivablesandpayablesareclassifiedasduefromotherfundsorduetootherfundsonthebalancesheetShortterminterfundloansifanyareclassifiedasinterfundreceivablespayablesLongtermloansbetweenfundsarereportedasadvancestofromotherfundhInventoriesInventoriesarevaluedatcostwhichapproximatesmarketusingthefirstinfirstoutFIFOmethodThecostsofgovernmentalfundtypeinventoriesarerecordedasexpenditureswhenconsumedratherthanwhenpurchasediPrepaidItemsExpensesPaymentsmadetovendorsforservicesthatwillbenefitperiodsbeyondthedateofthisreportarerecordedasprepaiditemsexpensesjFixedAssetsGeneralfixedassetsarenotcapitalizedinthefundsusedtoacquireorconstructthemInsteadcapitalacquisitionandconstructionarereflectedasexpendituresingovernmentalfundsandtherelatedassetsarereportedinthegeneralfixedassetsaccountgroupAilpurchasedfixedassetsarevaluedatcostwherehistoricalrecordsareavailableandatanestimatedhistoricalcostwherenohistoricalrecordsexistDonatedfixedassetsarevaluedattheirestimatedfairvalueonthedatereceivedThecostsofnormalmaintenanceandrepairsthatdonotaddtothevalueoftheassetormateriallyextendassetlivesarenotcapitalizedImprovementsarecapitalizedanddepreciatedovertheremainingusefullivesoftherelatedfixedassetsasapplicablePublicdomaininfrastructuregeneralfixedassetsconsistingofroadsbridgescurbsandguttersstreetsandsidewalksdrainagesystemsandlightingsystemsarenotcapitalizedastheseassetsareimmovableandofvalueonlytotheVillageAssetsinthegeneralfixedassetsaccountgrouparenotdepreciatedDepreciationofbuildingsequipmentwatersewersystemsandvehiclesintheproprietaryfundtypesiscomputedusingthestraightlinemethodInterestiscapitalizedonproprietaryfundassetsacquiredwithtaxexemptdebtTheamountofinteresttobecapitalizediscalculatedbyoffsettinginterestexpenseincurredfromthedateoftheborrowinguntilcompletionoftheprojectwithinterestearnedoninvestedproceedsoverthesameperiod20IIIIittIIIIIIIII VILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinuedSUMMARYOFSIGNIlVlCANTACCOUNTINGPOLICIESContinuedkCompensatedAbsencesVestedoraccumulatedvacationleavethatisexpectedtobeliquidatedwithexpendableavailablefinancialresourcesisreportedasanexpenditureandafundliabilityofthegovernmentalfundthatwillpayitVestedoraccumulatedvacationleaveofproprietaryfundsisrecordedasanexpenseandliabilityofthosefundsasthebenefitsaccruetoemployees1LongTermObligationsLongtermdebtisrecognizedasaliabilityofagovernmentalfundwhendueorwhenresourceshavebeenaccumulatedinthedebtservicefundforpaymentearlyinthefollowingyearForotherlongtermobligationsonlythatportionexpectedtobefinancedfiomexpendableavailablefinancialresourcesisreportedasafundliabilityofagovernmentalfundTheremainingportionofsuchobligationsisreportedinthegenerallongtermdebtaccountgroupLongtermliabilitiesexpectedtobefinancedfromproprietaryfundoperationsareaccountedforinthosefundsmFundEquityContributedcapitalisrecordedinproprietaryfundsthathavereceivedcapitalgrantspriortoDecember312000orcontributionsfromdeveloperscustomersorotherfundsReservesrepresentthoseportionsoffundequitynotappropriableforexpenditureorlegallysegregatedforaspecificfutureuseDesignatedfundbalancesrepresenttentativeplansforfutureuseoffinancialresourcesnBondDiscountsIssuanceCostshgovernmentalfundtypesbonddiscountsandissuancecostsarerecognizedinthecurrentperiodBonddiscountsandissuancecostsforproprietaryfundtypesaredeferredandamortizedoverthetermofthebondsusingthebondsoutstandingmethodwhichapproximatestheeffectiveinterestmethodBonddiscountsarepresentedasareductionofthefaceanountofbondspayablewhereasissuancecostsarerecordedasdeferredchargesoInterfundTransactionsQuasiexternaltransactionsareaccountedforasrevenuesexpendituresorexpensesTransactionsthatconstitutereimbursementstoafundforexpendituresexpensesinitiallymadefromitthatareproperlyapplicabletoanotherfundarerecordedasexpendituresexpensesinihereimbursingfundandasreductionsofexpendituresexpensesinthefundthatisreimbursed21 VILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued1SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESContinuedoInterfundTransactionsContinuedAllotherinterfundtransactionsexceptquasiexternaltransactionsandreimbursementsarereportedastransfersNonrecurringornonroutinepermanenttransfersofequityarereportedasresidualequitytransfersAllotherinterfundtransfersarereportedasoperatingtransferspMemorandumOnlyTotalColumnsTotalcolumnsonthegeneralpurposefinancialstatementsarecaptionedmemorandumonlytoindicatethattheyarepresentedonlytofacilitatefinancialanalysisDatainthesecolumnsdonotpresentfinancialpositionorresultsofoperationsinconformitywithgenerallyacceptedaccountingprinciplesNeitheraresuchdatacomparabletoaconsolidationInterfundeliminationshavenotbeenmadeintheaggregationofthisdataqComparativeDataComparativetotaldatafortheprioryearhavebeenpresentedinselectedsectionsoftheaccompanyingfinancialstatementsinordertoprovideanunderstandingofchangesintheVillagesfinancialpositionoperationsandcashflowsTherehavebeensomereclassificationsbetweenindividuallinesintheprioryearcolumnsinordertopresentmorecomparabledatarGASBPronouncementsTheVillagehaselectedundertheprovisionsofGASBStatement20titledAccountingandFinancialReportingforProprietaryFundsandOtherGovernmentalEntitiesThatUseProprietaryFundAccountingtoapplyallapplicableGASBpronouncementsandallFASBStatementsandInterpretationsAccountingPrinciplesBoardAPBOpinionsandAccountingResearchBulletinsARBissuedonorbeforeNovember301989unlesstheyconflictwithorcontradictGASBpronouncements2LEGALCOMPLIANCEANDACCOUNTABILITYaBudgetsAlldepartmentsoftheVillagesubmitrequestsforappropriationtotheVillageManagersothatabudgetmaybepreparedThebudgetispreparedbyfundandincludesinformationonthepastyearcurrentyearestimatesandrequestedappropriationsforthenextfiscalyear22IiIIIIIIII VILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinuedIIIIIiIIIIiIiIIiLEGALCOMPLIANCEANDACCOUNTABILITYContinuedaBudgetsContinuedTheproposedbudgetispresentedtothegoverningbodyforreviewThegoverningbodyholdspublicheatingsandmayaddtosubtractfromorchangeappropriationsbutmaynotchangethef6rmofthebudgetTheVillageManagerisauthorizedtotransferbudgetedmountsbetweendepartmentswithinanyfundhoweveranyrevisionsthatalterthetotalexpendituresofanyfundmustbeapprovedbythegoverningbodyExpendituresmaynotlegallyexceedbudgetedappropriationsatthefundlevelDuringtheyearasupplementaryappropriationwasnecessarybDeficitFundBalancesofIndividualFundsThefollowingfundshadadeficitinfundbalanceretainedearningsasofthedateofthisreportDeficitFundBalanceGNASRedevelopmentGNASCaretakerGNASBondFundSeries1995NorthMaineWaterandSewer50806585183553126235976ExcessofActualExpendituresExpensesOverBudgetinIndividualFundsThefollowingfundshadanexcessofactualexpendituresexpensesexclusiveofdepreciationandamortizationoverbudgetforthefiscalyearFundExcessCapitalProjects111481Insurance113602FirefightersPension1576923 VILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinuedII3DEPOSITSANDINVESTMENTSTheVillagemaintainsacashandinvestmentpoolthatisavailableforusebyallfundsexceptthepensiontrustfundsEachfundtypesportionofthispoolisdisplayedonthecombinedbalancesheetascashandinvestmentsInadditioninvestmentsareseparatelyheldbyseveraloftheVillagesfundsThedepositsandinvestxnentsofthepensiontrustfundsareheldseparatelyfromthoseofotherfundsCashonhandof500fortheprimarygovernmenthasbeenexcludedfromtheamountsshownbelowPermittedDepositsandInvestmentsStatutesauthorizetheVillagetomakedepositsinvestininsuredcommercialbankssavingsandloaninstitutionsobligationsoftheUSTreasuryandUSAgenciesinsuredcreditunionsharesmoneymarketmutualfundswithportfoliosofsecuritiesissuedorguaranteedbytheUnitedStatesoragreementstorepurchasethesesameobligationsrepurchaseagreementsshorttermcommercialpaperratedwithinthethreehighestclassificationsbyatleasttwostandardratingservicesandtheIllinoisFundsPensionfundsmayalsoinvestincertainnonUSobligationsIllinoismunicipalcorporationstaxanticipationwarrantsveteransloansobligationsoftheStateofIllinoisanditspoliticalsubdivisionsandIllinoisinsurancecompanygeneralandseparateaccountsmutualfundsandequitysecuritiesIllinoisFundsisaninvestmentpoolmanagedbytheStateofIllinoisOfficeoftheTreasurerwhichallowsgovernmentswithintheStatetopooltheirfundsforinvestmentpurposesIllinoisFundsisnotregisteredwiththeSECasaninvestmentcompanybutdoesoperateinamannerconsistentwithRule2a7oftheInvestmentCompanyActof1940InvestmentsinIllinoisFundsarevaluedatIllinoisFundssharepricewhichisthepricetheinvestmentcouldbesoldforaDepositsAtyearendthecarryngamountoftheprimarygovernmentsdepositstotaled33645591andthebankbalancestotaled34635769Thecarryingamountofthecomponentunitsdepositstotaled517913andthebankbalancestotaled57572724IIII1IIIIIIIIIII VILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued3DEPOSITSANDINVESTMENTSContinuedaDepositsContinuedBankBalancesPrimaryComponentGovernmentUnitCategory1DepositscoveredbyfederaldepositoryinsuranceorbycollateralheldbytheVillageoritsagentintheVillagesname34635769575727Category2DepositscoveredbycollateralheldbythepledgingfinancialinstitutionstrustdepartmentoritsagentsintheVillagesnameCategory3DepositscoveredbycollateralheldbythepledgingfinancialinstitutionoritstrustdepartmentoritsagentbutnotintheVillagesnameanddepositswhichareuninsuredanduncollateralizedTOTALDEPOSITS34635769575727ForpensiontrustfundsthetypesofdepositsauthorizedandthemixofcreditriskcategoriesdonotdiffersignificantlyfromtheotherfundsoftheVillagebInvestmentsTheVillagesinveslxnentsarecategorizedtogiveanindicationofthelevelofcustodialcreditriskassumedbytheentityatyearendCategory1includesinvestmentsthatareinsuredorregisteredorforwhichthesecuritiesareheldbytheVillageoritsagentintheVillagesnameCategory2includesuninsuredandunregisteredinvestmentsforwhichthesecuritiesareheldbythecounterpartystrustdepartmentoragentintheVillagesnameCategory3includesuninsuredandunregisteredinvestmentsforwhichthesecuritiesareheldbythecounterpartyintheVillagesnameorheldbyanythirdpartynotintheVillagesnameanduninsuredunregisteredinvestmentsq25 VILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinuedIDEPOSITSANDINVESTMENTSContinuedbInvestmentsContinuedPrimaryGovernmentFairValueCaor7123Tomls881093888810938854715749547157492336958123369581752075752075166946793166946793USTreasurySecuritiesUSAgencySecuritiesCorporatebondsMunicipalbondsIllinoisFundsMutualFundsInsurancecontractsandseparateaccounts3658953242402742648191TOTALiNVESTMENTS210424790NotsubjecttocustodialcreditriskcategorizationComponentUnitInvestmentsfortheComponentunitconsistof651520ofIllinoisFundsIllinoisFundsarenotsubjecttocustodialcreditriskcategorizationandthefarvalueofthepositionintheexternalpoolisthesameasthevalueofthepoolshares4RECEIVABLESTAXESPropertytaxesfor2002attachasanenforceablelienonJanuary12002onpropertyvaluesassessedasofthesamedateTaxesareleviedbyDecemberofthefiscalyearbypassageofaTaxLevyOrdinanceTaxbillsarepreparedbytheCountyandissuedonoraboutFebruary12002andAugust12002andarepayableintwoinstallmentsonoraboutMarch12002andSeptember12002TheCountycollectssuchtaxesandremitsthemperiodicallyTheallowanceforuncollectibletaxeshasbeenstatedat2ofthetaxlevytoreflectactualcollectionexperience261tlIIIIIiIIIIIII ViLLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued5FIXEDASSETSaGeneralFixedAssetsAccountGroupThefollowingisasummaryofchangesinthegeneralfixedassetsaccountgroupduringthefiscalyearPrimaryGovernmentBalancesBalancesJanuary1AdditionsRetirementsDecember31Land56438535643853Buildingandimprovements1027944810279448Equipment101130464470755769979983124Furniture295072295072Officeequipment8685271445131013040TOTALGENERALFIXEDASSETS2719994659158857699727214537ComponentUnitBalancesBalancesJanuarylAdditionsRetirementsDecember31500000500000412548841254888702782883289911054957665524598LandBuildingandimprovementsFurnitureandequipmentTOTALGENERALFIXEDASSETS27 VILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinuedIiFIXEDASSETSContinuedbProprietaryFixedAssetsThefollowingisasummaryofproprietaryfundtypefixedassetsasofthedateofthisreportInternalEnterpriseServiceLandandimprovementsBuildingsBuildingimprovementsWatersewersystemsEquipmentandvehiclesOfficefurnitureandequipment3028512436452033094507860528387251867255958Totalfixedassets4868580755958Lessaccumulateddepreciation1400303211991NETFIXEDASSETS3468277543967InproprietaryfundsthefollowingestimatedusefullivesareusedtocomputedepreciationBuildingimprovementsWatersewersystemsBuildingsEquipmentandvehiclesOfficefurnitureandequipment1020years50years4050years310years310yearsRISKMANAGEMENTTheVillageisexposedtovariousrisksoflossrelatedtotortstheftofdamagetoanddestructionofassetserrorsandomissionsinjuriestoemployeesillnessesofemployeesandnaturaldisastersTheVillageisselfinsuredandparticipatesintwopublicemployeeriskpoolsforallrisksandhasestablishedariskfinancingfundInsuranceFundFundforallrisksItisaccountedforasaninternalservicefundwhereassetsaresetasideforclaimsettlementsUnderthisprogramtheFundprovidescoverageuptoamaximumof1000000foreachgeneralliabilityclaim50000foreachworkerscompensationclaimand50000foreachpropertydamageclaimTheVillagepurchasesconunerciaIinsuranceforclaimsinexcessofthecoveragesprovidedbytheFmdSettledclaimshavenotexceededthiscommercialcoverageinanyofthepastthreefiscalyears28I1I1itIiIItiiI VILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinuedIiIII1IItIIIIiIIIRISKMANAGEMENTContinuedAllfundsoftheVillageparticipateandmakepaymentstotheFundbaseduponactuarialestimatesofthemountsneededtopaypriorandcurrentyearclaimsLiabilitiesoftheFundarereportedwhenitisprobablethatalosshasoccurredandtheamountofthelosscanbereasonablyestimatedLiabilitiesincludeanamountforclaimsthathavebeenincurredbutnotreportedIBNRClaimliabilitiesarecalculatedconsideringtheeffectsofinflationrecentclaimsettlementtrendsincludingfrequencyandamountofpayoutsandothereconomicandsocietalfactorsChangesinthebalancesofclaimsliabilitiesduringthepasttwofiscalyearsareasfollows20022001CLAIMSPAYABLEJANUARY1AddclaimsincurredLessclaimspaid372996269622647298860504843709757130CLAIMSPAYABLEDECEMBER31176585372996IntergovernmentalPersonnelBenefitCooperativeIPBCTheVillageparticipatesintheIntergovernmentalPersonnelBenefitCooperativeIPBCIPBCisapublicentityriskpoolestablishedbycertainunitsoflocalgovernmentinIllinoistoadministersomeorallofthepersonnelbenefitprogramsprimarilymedicaldentalandlifeinsurancecoverageofferedbyitsmemberstotheirofficersandemployeesandtotheofficersandemployeesofcertainothergovernmentalquasigovernmentalandnonprofitpublicserviceentitiesRiskoflossisretainedbytheVillageexceptthatIPBCpurchasesexcesscoveragepoliciesManagementconsistsofaBoardofDirectorscomprisedofoneappointedrepresentativefromeachmemberInadditiontherearethreeofficersaBenefitAdministratorandaTreasurerTheVillagedoesnotexerciseanycontroloveractivitiesoflPBCbeyonditsrepresentationontheBoardofDirectorsHighLevelExcessLiabilityPoolHELPTheVillageparticipatesintheHighLevelExcessLiabilityPoolHELPHELPisapublicentityriskpoolestablishedbycertainmunicipalitiesinIllinoistoprovideexcessliabilitycoverage10000000ofcoverageaftera1000000selfinsuranceretentionTheVillagespaymentstoHELParedisplayedonthefinancialstatementsasexpensesintheInsuranceFund29 VILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinuedIRISKMANAGEMENTContinuedHighLevelExcessLiabilityPoolHELPContinuedHELPwasorganizedonApril11987ThepurposeofHELPistoactasajointselfinsurancepoolforthepurposeofseekingthepreventionorlesseningofliabilityclaimsforinjuriestopersonsorpropertyorclaimsforerrorsandomissionsmadeagainstthemembersandotherpartiesincludedwithinthescopeofcoverageofHELPHELPisgovemedbyaBoardofDirectorswhichconsistsofoneappointedrepresentativefromeachmembermunicipalityEachdirectorhasanequalvoteTheofficersofHELPareappointedbytheBoardofDirectorsTheBoardofDirectorsdeterminesthegeneralpolicyofHELPmakesallappropriationsapprovescontractsadoptsresolutionsprovidingfortheissuanceofdebtbyHELPadoptsbylawsrolesandregulationsandexercisessuchpowersandperformssuchdutiesasmaybeprescribedintheAgencyAgreementorthebylawsTheVillagedoesnotexerciseanycontrolovertheactivitiesofHELPbeyonditsrepresentationontheBoardofDirectors7LONGTERMDEBTaChangesinLongTermLiabilitiesDuringthefiscalyearthefollowingchangesoccurredinliabilitiesreportedforGeneralObligationBondsBalancesBalancesJanuary1AdditionsRetirementsDecember3175000003550007145000943000006885000109900009019500010180000068850001134500097340000EnterpriseFundsGeneralLongTermDebtAccountGroupTOTALbGeneralObligationBondsTheVillageissuesgeneralobligationbondstoprovidefundsfortheacquisitionandconstructionofmajorcapitalfacilitiesGeneralobligationbondshavebeenissuedforbothgeneralgovernmentandproprietaryactivitiesThesebondsthereforearereportedintheproprietaryfundsiftheyareexpectedtoberepaidfromproprietaryrevenues30IiIIIiIIIIiIIIiII VILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued7LONGTERMDEBTContinuedbGeneralObligationBondsContinuedGeneralobligationbondsaredirectobligationsandpledgethefullfaithandcreditoftheVillageGeneralobligationbondscurrentlyoutstandingareasfollowsFundDebtBalancesBalancesIssueRetiredByJanuary1AdditionsReductionsDecember312895000CorporatePurposeBondsSeriesof1992datedApril11992dueinannualinstallmentsof10000to255000plusinterestat400to590throughDecember12012WholesaleWater205000013000019200007635000CorporatePurposeBondsSeriesof1993datedMayI1993dueinannualinstallmentsof5205000to1345000plusinterestat460to470throughDecember12005DebtService445500044550008040000CorporatePurposeBondSeriesof1994datedSeptember151994dueinannualinstallmentsof90000to1275000plusinterestat400to510throughDecember12004DebtService235500023550008435000CorporatePurposeBondSeriesof1996datedNovember11996dueinannualinstallmentsof675000toI050000plusinterestat460to4875throughDecember2008DebtService63200007750005550006175000CorporatePurposeBondSeriesof1997datedAugustl1997dueinannualinstallmentsof100000to495000plusinterestat4875to500throughDecember12017NorthMainWaterandSewer5450000225000522500031 VILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued7LONGTERMDEBTContinuedbGeneralObligationBondsContinuedFundDebtBalancesBalancesIssueRetiredByJanuary1AdditionsReductionsDecember3110000000GeneralObligationBondSeriesof1998AdatedNovember11998dueinannualinstallmentsof695000to1875000plusinterestat410to435throughDecember1201824400000GeneralObligationBondSeriesof1998BdatedJanuary11999dueinannualinstallmentsof1000000to2050000plusinterestat425to450throughDecember120184970000GeneralObligationBondSeriesof2000datedDecember152000dueinannualinstallmentsof345000to1875000plusinterestat430to45throughDecember1200841800000GeneralObligationBondSeriesof2001datedAugust12001dueinannualinstallmentsof500000to5500000plusinterestat350to435throughDecember120126885000GeneralObligationRefundingBondSeriesof2002datedFebruary152002dueinannualinstallmentsof81315000to2010000plusinterestat185to340throughDecember12005DebtService1000000010000000DebtService24400000139500023005000DebtService49700004970000DebtService4180000041800000DebtServiceTOTAL688500020100004875000S101800000688500011345000973400032 VILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued7LONGTERMDEBTContinuedcNotesPayableTheVillageentersintonotespayabletoprovidefundsfortheacquisitionofcapitalassetsNotespayablehavebeenissuedforproprietaryactivitiesTheproprietaryliabilitiesarethereforereportedintheproprietaryfundsNotepayablecurrentlyoutstandingisasfollowsFundDebtBalancesBalancesIssueRetiredByJanuary1AdditionsReductionsDecember312850000CorporatePurposeNoteof1997datedSeptember21997dueinNorthannualinstallmentsofMaine215377plusinterestpaidWaterat4942throughandSeptember12019Sewer2529058903842438674dDebtServiceRequirementstoMaturityAnnualdebtservicerequirementstomaturityareasfollowsGeneralObligationGeneralBondsCarriedFiscalObligationasEnterpriseYearBondsFundLiabilitiesCorporatePurposeNotesCarriedasEnterpriseFundLiabilitiesTotals200382747457675962004826367476190620051235290076026820061240935076235220071226823876289620081111794676696620098773446769326201085761647698662011887694076877220128645940775956201329179465057502014293107051100020152948950510000201629660505130002017298203651975020183001563201921537621537621537621537621537621537621537621537621537621537621537621537621537621537721537721537721537792577179240956133285441338707813246510121002889758148956140698610889637272363907236574463674326369442737171633216940215377TOTALPRINCIPALANDINTEREST117306958102254043661396131193758INTERESTPORTION27111958308040412227223141508433 VILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinuedI8CONTRACTUALCOMMITMENTSContinuedbSolidWasteAgencyofNorthemCookCountySWANCCContinuedSWANCChasenteredintosolidwastedisposalcontractswiththetwentythreemembermunicipalitiesThecontractsareirrevocableandmaynotbeterminatedoramendedexceptasprovidedinthecontractEachmemberisobligatedonatakeorpaybasistopurchaseorinanyeventtopayforaminimumannualcostofthesystemTheobligationoftheVillagetomakeallpaymentsasrequiredbythiscontactisunconditionalandirrevocablewithoutregardtoperformanceornonperformancebySWANCCofitsobligationsunderthiscontract91NTERFUNDASSETSLIABILITIESDueFromToOtherFundsPayableFundReceivableFundAmountGeneralMunicipalEquipmentRepair35022GNASBondFundSeries19955000400222931790918202SpecialRevenueGNASRedevelopmentGNASCaretakerMunicipalEquipmentRepairGeneralCapitalProjectsVillagePemaanentCapitalEquipmentReplacementCapitalProjectGNASBondFundSeries1995GlenLandSalesGeneralWaterworksGNASBondFundSeries19952001ProjectGlenLandSalesGNASRedevelopment198001878120919313726022500031000318078EnterpriseWaterWholesaleWaterGeneralSewerageMunicipalEquipmentRepairGeneral1054687055013119113736IIIIIIIiIIIIIIIiI VILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinuedI7LONGTERMDEBTContinuedeLegalDebtMarginTheGovernmentisahomerulemunicipalityArticleVIISection6kofthe1970IllinoisConstitutiongovernscomputationofthelegaldebtmarginTheGeneralAssemblymaylimitbylawthemountandrequirereferendumapprovalofdebttobeincurredbyhomerulemunicipalitiespayablefromadvalorempropertytaxreceiptsonlyinexcessofthefollowingpercentagesoftheassessedvalueofitstaxableproperty2ifitspopulationismorethan25000andlessthan500000anaggregateofonepercentindebtednesswhichisoutstandingontheeffectivedateJuly11971ofthisconstitutionorwhichisthereafterapprovedbyreferendumshallnotbeincludedintheforegoingpercentageamountsTodatetheGeneralAssemblyhassetnolimitsforhomerulemunicipalitiesfAdvanceRefundingGeneralObligationRefundingBondsSeries1994InFebruary2002theVillageissued6885000GeneralObligationRefundingBondsSeries2002bondstheproceedsofwhichwereusedtoadvancerefund4455000ofthe1993SeriesGeneralObligationBondsand2355000ofthe1994SeriesGeneralObligationBondsThisadvancerefundingwasundertakentoreducetotaldebtservicepaymentsoverthenextfouryearsby190805andtoobtainaneconomicgaindifferencebetweenthepresentvalueofthedebtservicepaymentsoftherefimdedandrefundingbondsof120405oftheolddebtgNoncommitmentDebtSpecialServiceAreaBondsSpecialserviceareabondsoutstandingasofthedateofthisreporttotaled803890ThesebondsarenotanobligationoftheVillageandaresecuredbythelevyofspecialserviceontherealpropertywithinthespecialserviceareaTheVillageisinnowayliableforrepaymentbutisonlyactingastheagentforthepropertyownersinlevyingandcollectingtheassessmentsandforwardingthecollectionstothebondholders34IIIIIIIIIIIIIII VILLAGEOFGLENVEEWILLINOISNOTESTOFINANCIALSTATEMENTSContinuedLONGTERMDEBTContinuedgNoncommitmentDebtContinuedConduitDebtTheVillagehasissuedIndustrialDevelopmentRevenueBondsIDRBstoprovidefinancialassistancetoprivateorganizationsfortheconstructionandacquisitionofindustrialandcommercialimprovementsdeemedtobeinthepublicinterestThebondsaresecuredsolelybythepropertyfinancedandarepayablesolelyfromthepaymentsreceivedontheunderlyingmortgageloansonthepropertyTheVillageisnotobligatedinanymannerfortherepaymentofthebondsAccordinglythebondsoutstandingarenotreportedasaliabilityinthesefmancialstatementsAsofDecember312002therewasoneseriesoflDRBsoutstandingTheaggregateprincipalamountpayablefortheIDRBsoutstandingwas91650008CONTRACTUALCOMMITMENTSaHighLevelExcessLiabilityPoolHELPTheVillagehascommittedtopurchaseexcessliabilityinsurancefromtheHighLevelExcessLiabilityPoolHELPapublicentityriskpoolforcertainIllinoismunicipalitiesthroughApril302008TheseamountshavebeencalculatedusingtheVillagescurrentallocationpercentageof781InfutureyearsthisallocationpercentagewillbesubjecttochangebecausetheHELPAgreementprovidesthateachyearmemberswillbeassessedbaseduponaformulathatspecifiesthefollowingfourcriteriaforallocatingpremiumcostsMilesofStreetsFullTimeEquivalentEmployeesNumberofMotorVehiclesOperatingRevenuesSolidWasteAgencyofNorthernCookCountySWANCCTheVillagehascommittedtopayitsshareoftheannualoperatingcostsandfixedcostsoftheSWANCCTheVillagesshareofcostsisexpectedtobefundedthroughtippingfeespaidbyrefusehaulersTheVillagebegandeliveringrefusetoSWANCCinMayof199535 VILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued8CONTRACTUALCOMMITMENTSContinuedbSolidWasteAgencyofNorthernCookCountySWANCCContinuedSWANCChasenteredintosolidwastedisposalcontractswiththetwentythreemembermunicipalitiesThecontractsareirrevocableandmaynotbeterminatedoramendedexceptasprovidedinthecontractEachmembisobligatedonatakeorpalbasistopurchaseorinanyeventtopayforaminimumannualcostofthesystemTheobligationoftheVillagetomakeallpaymentsasrequiredbythiscontactisunconditionalandirrevocablewithoutregardtoperformanceornonperformancebySWANCCofitsobligationsunderthiscontract9INTERFUNDASSETSLIABILITIESDueFromToOthrFundsPayableFundReceivableFundAmountGeneralMunicipalEquipmentRepair35022GNASBondFundSeries19955000400222931790918202SpecialRevenueGNASRedevelopmentGNASCaretakerMunicipalEquipmentRepairGeneralCapitalProjectsVillagePermanentCapitalEquipmentReplacementCapitalProjectGNASBondFundSeries1995GlenLandSalesGeneralWatevorksGNASBondFundSeries19952001ProjectGlenLandSalesGNASRedevelopment198001878120919313726022500031000318078EnterpriseWaterWholesaleWaterGeneralSewerageMunicipalEquipmentRepairGeneral1054687055013119113736q VILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinuedINTERFUNDASSETSLIABILITIESContinuedDueFromToOtherFundsContinuedPayableFundReceivableFundAtnountEnterpriseContinuedSewerageCommuterParkingNorthMaineWaterandSewerInternalServiceMunicipalEquipmentRepairTrustandAgencyEscrowDepositTOTALAdvancesFromToOtherFundsPayableFundGeneralMunicipalEquipmentRepairGeneralGeneralMunicipalEquipmentRepairGeneralGlenLandSalesReceivableFund11865114410512681053242364681938319383108308108308740461AlnountCapitalProjectsCapitalEquipmentReplacementCapitalProjectsGlenLandSalesTOTALWaterworksNorthMaineWaterandSewerSewerageWaterworksVillagePermanent8191131090951169721614109111821301384141937 VILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued10SEGMENTINFORMATIONENTERPRISEFUNDSTheVillagemaintainsthefollowingenterprisefundswhichareintendedtobeselfsupportingthroughuserfeeschargedforservicestothepublicFinancialsegmentinformationasofthedateofthisreportandforthefiscalyearisasfollowsWholesaleWaterworksWaterNorthMaineWaterandSewerOperatingrevenuesDepreciationandamortizationexpenseOperatingincomeOperatingtransfersinOperatingtransfersoutNetincomelossCurrentcapitalcontributionsCurrentcapitaltransfersPlantpropertyandequipmentAdditionsDeletionsTotalassetsNetworkingcapitalBondsandotherlongtermliabilitiesPayablefromoperatingrevenuesTotalequity73781416685091887533115291180010753430336291998288751717069546280810141419995575747163859259594485750100437930000513150604470112728383682509032782354331233191445819200007663674451575235976SewerageCommuterParkingLotTotalsOperatingrevenuesDepreciationandamortizationexpenseOperatingincomeOperatingtransfersinOperatingtransfersoutNetincomelossCurrentcapitalcontributionsCurrentcapitaltransfersPlantpropertyandequipmentAdditionsDeletionsTotalassetsNetworkingcapitalBondsandotherlongtermliabilitiesPayablefromoperatingrevenuesTotalequity1031229280692128866813253064181805288176480502491945998942565075564963914588807227698653018666372481335762158675281128960399010830000260675710349305768683704764746479925936806695836743500485638 VILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued1112CONTRIBUTEDCAPITALDuringthecurrentyearcontributedcapitalincreasedbythefollowingamountsiNCREASESContributionofcapitalDECREASESNoneNetincreasedecreaseCONTRIBUTEDCAPITALJANUARY1CONTRIBUTEDCAPITALDECEMBER31CONTINGENTLIABILITIESaLitigationWaterworksSewerageTotals53430334256505768683534303342565057686834298906206748763663939641939249313712135076TheVillageisadefendantinvariouslawsuitsAlthoughtheoutcomeoftheselawsuitsisnotpresentlydeterminableintheopinionoftheVillageAttorneytheresolutionofthesematterswillnothaveamaterialadverseeffectonthefinancialconditionoftheVillageGrantsAmountsreceivedorreceivablefromgrantoragenciesaresubjecttoauditandadjustmentbygrantoragenciesprincipallythefederalgovernmentAnydisallowedclaimsincludingamountsalreadycollectedmayconstitutealiabilityoftheapplicablefundsTheamountifanyofexpendituresthatmaybedisallowedbythegrantorcannotbedeterminedatthistimealthoughtheVillageexpectssuchamountsifanytobeimmaterial39 VILLAGEOFGLENVEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued12CONTINGENTLIABILITIESContinuedcHighLevelExcessLiabilityPoolHELPTheVillagehascommittedtopurchaseexcessliabilityinsurancefiomtheHighlevelExcessLiabilityPoolHELPthroughApril302008TheVillageexpectstomakethefollowingpaymentstoHELPYearEndingDecember31Amount20039496220049496220059496220069496220072008189924dSolidWasteAgencyofNorthernCookCountySWANCCTheVillagehascommittedtomakepaymentstoSWANCCforsolidwasterefusedisposalandexpectstopaythefollowingamountsYearEndingDecember31Amount2003216001200421604220052160842006216016200720222159727TheseamountshavebeenestimatedbasedupontheVillagescommitmentfor2002InfuroreyearstheannualexpensewillbesubjecttochangebasedupontheactualtonnageofrefusedisposedofandcurrentSWANCCcosts40 VILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued13JOINTVENTURESSolidWasteAgencyofNorthernCookCountySWANCCDescriptionofJointVentureTheVillageisamemberoftheSolidWasteAgencyofNorthernCookCountySWANCCwhichconsistsoftwentythreemunicipalitiesSWANCCisamunicipalcorporationandpublicbodypoliticandcorporateestablishedpursuanttotheConstitutionoftheStateofIllinoisandtheIntergovernmentalCooperationActoftheStateofIllinoisasamendedtheActSWANCCisempoweredundertheActtoplanconstructfinanceoperateandmaintainasolidwastedisposalsystemtoserveitsmembersSWANCCisgovernedbyaBoardofDirectorswhichconsistsofoneappointedmayororpresidentfromeachmembermunicipalityEachdirectorhasanequalvoteTheofficersofSWANCCareappointedbytheBoardofDirectorsTheBoardofDirectorsdeterminesthegeneralpolicyofSWANCCmakesailappropriationsapprovescontractsadoptsresolutionsprovidingfortheissuanceofbondsornotesbySWANCCadoptsbylawsrulesandregulationsandexercisessuchpowersandperformssuchdutiesasmaybeprescribedintheSWANCCAgreementorthebylawsCompletefinancialstatementsforSWANCCcanbeobtainedfromtheSWANCCsadministrativeofficeat1616EastGolfRoadDesPlainesIllinois60016oravailableonthewebatwwwswancccomSWANCCsoutstandingbondsarerevenueobligationsTheyarelimitedobligationsofSWANCCwithaclaimforpaymentsolelyfromandsecuredbyapledgeoftherevenuesofSWANCCandamountsinvariousfundsandaccountsestablishedbyagencyresolutionsThebondsarenotthedebtofanymemberSWANCChasnopowertolevytaxesRevenuesofSWANCCconsistof1allreceiptsderivedfromsolidwastedisposalcontractsoranyothercontractsforthedisposalofwaste2allincomederivedfromtheinvestmentofmoniesand3allincomefeesandservicechargesandallgrantsrentsandreceiptsderivedbySWANCCfromtheownershipandoperationofthesystemSWANCCcovenantstoestablishfeesandchargessufficienttoproviderevenuestomeetallitsrequirementsInaccordancewiththecontracttheVillagemade774819inpaymentstoSWANCCfortheyearendedDecember312002ThepaymentsarerecordedintheRefuseandRecyclingFundTheVillagedoesnothaveanequityinterestinSWdqCCatDecember31200241 VILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued14POSTEMPLOYMENTBENEFITSInadditiontoprovidingthepensionbenefitsdescribedtheVillageprovidespostemploymenthealthcarebenefitsforretiredpublicsafetyemployeesSubstantiallyalloftheVillagespublicsafetyemployeesmaybecomeeligibleforthosebenefitsiftheyreachnormalretirementagewhileworkingfortheVillageThecostofretireehealthcarebenefitsisrecognizedasanexpenditureasclaimsarepaidForthefiscalyearthosecoststotal284006forthe65participantsTheretireespayanannualpreminnawhichisequaltotheactuariallydeterminedcostforeachplanyearAccordinglynoliabilityhasbeenrecordedforpostretirementhealthcarebenefits15EMPLOYEERETIREMENTSYSTEMSaPlanDescriptionsandProvisionsTheVillagecontributestotkreedefinedbenefitpensionplanstheIllinoisMunicipalRetirementFundIMRFanagentmultipleemployerpublicemployeeretirementsystemthePolicePensionPlanwhichisasingleemployerpensionplanandtheFirefightersPensionPlanwhichisalsoasingleemployerpensionplanThebenefitsbenefitlevelsemployeecontributionsandemployercontributionsforallthreeplansaregovernedbyIllinoisCompiledStatutesandcanonlybeamendedbytheIllinoisGeneralAssemblyNoneofthepensionplansissueseparatereportsonthepensionplansHoweverIiViRFdoesissueapubhclyavailablereportthatincludesfinancialstatementsandsupplementaryinformationfortheplanasawholebutnotforindividualemployersThatreportcanbeobtainedfromIMRF2211YorkRoadSuite500OakBrookIllinois60523IllinoisMunicipalRetirementFundAllemployeesotherthanthosecoveredbythePoliceorFirefightersplanshiredinpositionsthatmeetorexceedtheprescribedannualhourlystandardmustbeenrolledinIMRFasparticipatingmembersPensionbenefitsvestaftereightyearsofserviceParticipatingmemberswhoretireatorafterage60witheightyearsofcreditedserviceareentitledtoanannualretirementbenefitpayablemonthlyforlifeinanamountequalto123oftheirfinalrateofearningsforeachyearofcreditedserviceupto15yearsand2foreachyearthereafterIMRFalsoprovidesdeathanddisabilitybenefitsThesebenefitprovisionsandallotherrequirementsareestablishedbystatestatuteParticipatingmembersarerequiredtocontribute45oftheirannualsalarytoIMRFTheVillageisrequiredtocontributetheremainingamountsnecessarytofundtheIMRFasspecifiedbystatuteTheemployercontributionfortheyearendedDecember312002was573ofcoveredpayroll42 VILLAGEOFGLENVIEWLLINOISNOTESTOFINANCIALSTATEMENTSContinued15EMPLOYEERETREMENTSYSTEMSContinuedaPlanDescriptionsandProvisionsContinuedPolicePensionPoliceswornpersonnelarecoveredbythePolicePensionPlanAlthoughthisisasingleemployerpensionplanthedefinedbenefitsandemployeeandemployercontributionslevelsaregovernedbyIllinoisCompiledStatutesChapter40Article53andmaybeanendedonlybytheIllinoislegislatureTheVillageaccountsfortheplanasapensiontrustfundAtDecember312001thePolicePensionPlanmembershipconsistedofRetireesandbeneficiariescurrentlyreceivingbenefitsTerminatedemployeesentitledtobenefitsbutnotyetreceivingthemCurrentemployeesVestedNonvested32463OTOTAL108ThePolicePensionPlanprovidesretirementbenefitsaswellasdeathanddisabilitybenefitsCoveredemployeesattainingtheageof50ormorewith20ormoreyearsofcreditableserviceareentitledtoreceiveanannualretirementbenefitofonehalfofthesalaryattachedtotherankheldonthelastdayofserviceorforoneyearpriortothelastdaywhicheverisgreaterThearmualbenefitshallbeincreasedby250ofsuchsalaryforeachadditionalyearofserviceover20yearsupto30yearstoamaximumof7500ofsuchsalaryEmployeeswithatleasteightyearsbutlessthan20yearsofcreditedservicemayretireatorafterage60andreceiveareducedbenefitThemonthlypensionofapoliceofficerwhoretiredwith20ormoreyearsofserviceafterJanuary11977shallbeincreasedannuallyfollowingthefirstarmiversarydateofretirementandbepaiduponreachingtheageofatleast55yearsby300oftheoriginalpensionand300compoundedamuallythereafterEmployeesarerequiredtocontribute991oftheirbasesalarytothePolicePensionPlanIfanemployeeleavescoveredemploymentwithlessthan20yearsofserviceaccumulatedemployeecontributionsmayberefundedwithoutaccumulatedinterestTheVillageisrequiredtocontributetberemainingamountsnecessarytofinancetheplanasactuafiallydeterminedbyanenrolledactuaryEffectiveJuly11993theVillagescontributionsmustaccmnulatetothepointwherethepastservicecostforthePolicePensionPlanisfullyfundedbytheyear2033FortheyearendedDecember312002theVillagescontributionwas847ofcoveredpayroll43 VILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued15EMPLOYEERETIREMENTSYSTEMSContinuedaPlanDescriptionsandProvisionsContinuedFirefightersPensionFireswornpersonnelarecoveredbytheFirefightersPensionPlanwhichisadefinedbenefitsingleemployerpensionplanAlthoughthisisasingleemployerpensionplanthedefinedbenefitsaswellastheemployeeandemployercontributionslevelsaremandatedbyIllinoisCompiledStatutesChapter40Article54andmaybeamendedonlybytheIllinoislegislatureTheVillageaccountsfortheplanasapensiontrustfundAtDecember312001theFirefightersPensionPlanmembershipconsistedofRetireesandbeneficiariescurrentlyreceivingbenefitsTerminatedemployeesentitledtobenefitsbutnotyetreceivingthemCurrentemployeesVestedNonvested395135TOTAL125TheFirefightersPensionPlanprovidesretirementbenefitsaswellasdeathanddisabilitybenefitsEmployeesattainingtheageof50ormorewith20ormoreyearsofcreditableserviceareentitledtoreceiveamonthlyretirementbenefitofonehalfofthemonthlysalaryattachedtotherankheldinthefireserviceatthedateofretirementThemonthlypensionshallbeincreasedby112of250ofsuchmonthlysalaryforeachadditionalmonthover20yearsofservicethrough30yearsofservicetoamaximumof7500ofsuchmonthlysalaryEmployeeswithatleast10yearsbutlessthan20yearsofcreditedservicemayretireatorafterage60andreceiveareducedretirementbenefitThemonthlypensionoracoveredemployeewhoretiredwith20ormoreyearsofserviceafterJanuary11977shallbeincreasedannuallyfollowingthefirstanniversarydateofretirementandpaiduponreachingatleasttheage55by3oftheoriginalpensionand3compoundedannuallythereafterCoveredemployeesarerequiredtocontribute8455oftheirsalarytotheFirefightersPensionPlanIfanemployeeleavescoveredemploymentwithlessthan20yearsofserviceaccumulatedemployeecontributionsmayberefundedwithoutaccumulatedinterestTheVillageisrequiredtocontributetheremainingamountsnecessarytofinancetheplanasactuafiallydeterminedbyaneolledactuaryEffectiveJuly11993theVillagescontributionsmustaccumulatetothepointwherethepastservicecostfortheFirefightersPensionPlanisfullyfundedbytheyear2033FortheyearendedDecember312002theVillagescontributionwas4996ofcoveredpayroll44 VILLAGEOFGLENVIEWILLiNOISNOTESTOFiNANCIALSTATEMENTSContinued15EMPLOYEERETIREMENTSYSTEMSContinuedbSignificantInvestmentsTherearenoinvestmentsotherthanUSgovernmentandUSgovernmentguaranteedobligationsinanyoneorganizationthatrepresent500ormoreofnetassetsforeitherthePoliceortheFirefightersPensionPlansInformationforIMRFisnotavailableEmployercontributionshavebeendeterminedasfollowsIllinoisMunicipalPoliceFirefightersRetirementPensionPensionActuarialValuationDateDecember31January1January1200020022002ActuarialCostMethodEntryageEntryageEnmJageNormalNormalNormalAssetValuationMethod5YearSmoothedMarketMarketMarketAmortizationMethodLevelLevelLevelPercentageofPercentageofPercentageofPayrollPayrollPayrollAmortizationPeriod10Years33Years33YearsClosedClosedClosedSignificantActuarialAssumptionsaRateofReturnonPresentandFutureAssets750800800CompoundedCompoundedCompoundedAnnuallyAnnuallyAnnuallybProjectedSalaryIncrease400300300AttributabletoInflationCompoundedCompoundedCompoundedAnnuallyAnnuallyAnnuallycAdditionalProjected40to1160250SalaryIncreasesSeniorityMerit250dPostRetirementBenefit300300300IncreasesEmployerannualpensioncostAPCactualcontributionsandthenetpensionobligationassetNPOareasfollowsTheNPOassetisthecumulativedifferencebetweentheAPCandthecontributionsactuallymade45 VILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued15EMPLOYEERETIREMENTSYSTEMSContinuedbSignificantInvestmentsContinuedIllinoisMunicipalPoliceFirefightersYearRetirementPensionPensionAnnualPensionCost200082517318650545527APC20017961914352924038042002706259NANAActualContribution200082517342750317382120017961913883102572242002706259NANAPercentageofAPCContributed20001000022923818200110000892637200210000NANANPOAsset200026051031821920012135281716392002NANAInformationpresentedisforthefiscalyearsendingDecember3120002001and2002fromactuarialreportsasofDecember3119992000and2001ThenetpensionobligationassethasbeencalculatedasfollowsPoliceFirefightersPensionPension4446654152542084125458114681400843529240380438831025722446982146580260510318219213528171639AnnualrequiredcontributionsInterestonnetpensionobligationAdjustmenttoannualrequiredcontributionAnnualpensioncostContributionsmadeIncreasedecreaseinnetpensionobligationassetNetpensionobligationassetbeginningofyearNETPENSIONOBLIGATIONASSETENDOFYEAR46 VILLAGEOFGLENVIEWILLINOISNOTESTOFINANCIALSTATEMENTSContinued16SALEOFLANDAspartofthedevelopmentofthepropertyfomaerlyoccupiedbytheGlenviewNavalAirStation2321521wasrecordedasrevenueintheGlenLandSalesFundforthesaleofland17PRIORPERIODADJUSTMENTTheVillagecorrectedaprioryearerrorbyincreasingfundbalanceintheGlenLandSalesFundby4557118SUBSEQUENTEVENTTheVillageissued9990000of2003AGeneralObligationRefundingBondsand1955000of2003BGeneralObligationRefundingBondsbothseriesdatedApril1200347 IIIIVILLAGEOFGLENVIEWILLINOISREQUIREDSUPPLEMENTARYINFORMATIONSCHEDULEOFFUNDINGPROGRESSILLINOISMUNICIPALRETIREMENTFUNDDecember312002IIIActuarialValuationDateDecember3119971ActuarialValueofAssets4UAAL2UnfundedOAALActuarialOverfundedAsaAccrued3AALPercentageLiabilityFundedUAAL5ofCoveredAALRatioOAALCoveredPayrollEntryAge122IPayroll451530413316257078941495294583602251140199819992000200120021783417117399577209716391968021524477730217907352620361723785832259504412577869010250434594884262810656I291424951451211233268699510379550110162417785117087081006717175112325643Seeindependentauditorsreport48491135725892065139 VILLAGEOFGLENVIEWILLINOISREQUIREDSUPPLEMENTARYINFORMATIONSCHEDULEOFFUNDINGPROGRESSPOLICEPENSIONFUNDDecember312002IIIIActuarialValuahonDateDecember312UAXLActuarial4Asa1Accrued3UnfundedPercentageActuarialLiabilityFundedAAL5ofCoveredValueofAALRatioUAALCoveredPayrollAssetsEntryAge1221Payroll45II19971998199920002001200223553282231626562721124524277701256292702576988429157173301308812938037731728241NANA1016939062636872951059112082933544278974510515994514061440084913519677973708430908322609260234786445833545123NANANANASeeindependentauditorsreport49IIIIiIIIIIIII IIIIIIIActuarialValuationDateDecember311997VILLAGEOFGLENVIEWILLiNOISREQUIREDSUPPLEMENTARYiNFORMATIONSCHEDULEOFFUNDiNGPROGRESSFIREFIGHTERSPENSIONFUNDDecember3120024UAAL2UnfundedOAALActuarialOverfundedAsa1Accrued3AALPercentageActuarialLiabilityFundedUAAL5ofCoveredValueofAALRatioOAALCoveredPayrollAssetsEntryAge1221Payroll453450238029741118116014761262425319611195199837887879318393891190060484904304126140531999367473023499951410499174778845064953878200040166889388561791033713107104760709275320014197948340548063I03531431420514899727802002NANANANANANASeeindependentauditorsreport50 CalendarYear199719981999200020012002VILLAGEOFGLENVIEWILLINOISREQUIREDSUPPLEMENTARYINFORMATIONSCHEDULEOFEMPLOYERCONTRIBUTIONSILLINOISMUNICIPALRETIREMENTFUNDDecember312002AnnualPensionEmployerCostContributionsAPC764282764282804679804679831568831568825173825173796191796191706259706259Seeindependentauditorsreport51PercentageContributed100001000010000100001000010000IIIIIIIIIIIIIIIIII IIIICalendarYear199719981999200020012002VILLAGEOFGLENVIEWILLINOISREQUIREDSUPPLEMENTARYINFORMATIONSCHEDULEOFEMPLOYERCONTRIBUTINSPOLICEPENSIONFUNDDecember312002AnnualPensionEmployerCostContributionsAPC398347364249376836389071387208389558427503186505388310435292540072NASeeindependentauditorsreport52PercentageContributed1093696869940229228921NA CalendarYear199719981999200020012002VILLAGEOFGLENVEEWILLINOISREQUIIEDSUPPLEMENTARYINFORMATIONSCHEDULEOFEMPLOYERCONTRIBUTIiDNSFIREFIGHTERSPENSIONFUNDDecember312002AnnualPensionEmployerCostContributionsAPC24757520052623633412749815747612343717382145527257224403804527906NASeeindependentauditorsreport53PercentageContributed123461853612758381806370NAIIIIIIIIIIIIIIIIIII IIiIIIIIIIIIIIIIIGENERALFUNDTheGeneralFundalsoreferredtoastheCorporateFundisusedtoaccountforresourcestraditionallyassociatedwithgovernmentalservicesnotrequiredtobeaccountedforinanotherfund VILLAGEOFGLENWIEWILLINOISBALANCESHEETGENERALFUNDDecember312002withcomparativetotalsfor2001IiiIASSETSCashInvestmentsReceivablesTaxesPropertytaxesSalestaxIncometaxUtilitytaxesAccountsOtherDuefromothergovermnentsDuefromotherfundsTOTALASSETSLIABILITIESANDFUNDBALANCELIABILITIESAccbuntspayableAccruedpayrollCompensatedabsencespayableInfrastructuremaintenancefeeOtherpayablesDuetootherfundsDeferredrevenueDeferredpropertytaxesTotalliabilitiesFUNDBALANCEReservedforPattonHouseUnreservedDesignatedforincometaxsurchargereceiptsUndesignatedTotalfundbalanceTOTALLIABILITIESANDFUNDBALANCE200220012152023111015112879980136466055731379578588426280311968913347858712911343995945754269619257311858732385185501I3707324924831231186128934983654797710090777179167182315316919740178982952834125911400221373141296642433255731379578588490259899247576I00001000013348481334848145539941259386515898842139387132492483123186289Seeaccompanyingnotestofinancialstatements54IIIIIIIIIIiiII Thispageisintentionallyleftblank VILLAGEOFGLENV1EWILLINOISSTATEMENTOFREVENUESEXPENDITURESANDCHANGES1NFUNDBALANCEBUDGETANDACTUALGENERALFUNDFortheYearEndedDecember312002withcomparativeactualfor2001REVENUESTaxesLicensesandpermitsIntergovernmentalChargesforservicesFinesandforfeitsInvestmentincomeMiscellaneousTotalrevenuesEXPENDITURESGeneralgovernmentPublicsafetyHighwaysandstreetsTotalexpendituresEXCESSDEFICIENCYOFREVENUESOVEREXPENDITURESOTHERFINANCINGSOURCESUSESOperatingtransfersinWholesaleWaterFundWaterworksFundSewerageFundNorthMaineWaterandSewerFundCommuterParkingLotFundGNASRedevelopmentFundGNASCaretakerFund911CommunicationsFundEscrowDepositFundComponentUnitLibraryFundOperatingtransfersoutCapitalEquipmentReplacementFundDebtServiceFundCapitalProjectsFundTotalotherfinancingsourcesuses20022001BudgetActualActual107394601061183710704456224670024154832810000136260001485816613360398216057511090481152553225000207720215284475000401213769833865150879251158134230337885304827183059386672965986163725558427416503505160133031558451964072516133143589552030207354283101712706431313053121725473529553112150112150105000508600508600493710711757118068500307500307500307500450004500037000200020002000200020002000120000120000150000120000172351126501265012600122522312252201061930219335219336210805320006894220790001454832124182151074Thisstatementiscontinuedonthefollowingpage55 IIIIVILLAGEOFGLENV1EWILLiNOISSTATEMENTOFREVENUESEXPENDITURESANDCHANGESINFUNDBALANCEBUDGETANDACTUALContinuedGENERALFUNDFortheYearEndedDecember312002withcomparativeactualfor200IiIIIIIIIiIIIIiiEXCESSDEFICIENCYOFREVENUESANDOTHERFiNANCINGSOURCESOVEREXPENDITURESANDOTHERFINANCINGUSESFUNDBALANCEJANUARY1PriorperiodadjustmentFUNDBALANCEJANUARY1RESTATEDFUNDBALANCEDECEMBER3120022001Seeaccompanyingnotestofinancialstatements6BudgetActualActual14195219601291378479139387131218919737103713938713125602341589884213938713 VILLAGEOFGLENVIEWILLINOISSCHEDULEOFREVENUESBUDGETANDACTUALGENERALFUNDFortheYearEndedDecember312002withcomparativeactualfor2001IIIITAXESPropertytaxescurrentPropertytaxespensionPropertytaxespriorUtilitytaxATTUtilitytaxmobileservicesUtilitytaxNIGasUtilitytaxCommonwealthEdisonUtilitytaxAmeritechHotelroomtaxTotaltaxesLICENSESANDPERMITSBusinessLiquorPetBuildingpermitsCertificateofoccupancyContractorsfeesPlumbingandsewerDrivewaypermitsTotallicensesandpermitsINTERGOVERNMENTALGlenbrookFireProtectionDistrictReplacementtaxesSalestaxIllinoisincometaxPhotousetaxRoadandbridgeRoadandbridgepriorVillageofGolfFireProtectionDistrictMiscellaneousintergovernmentFederalandstategrantsMakewholepaymentTotalintergovernmental20022001BudgetActualActual486946047293065129360109000010679786146065000079948649141950005227002152915550007178806218136000005544439411531825000186910517181397550004553946509928000006150837481881073946010611837107044566500076096719219000098100939505000481148291894700199096624085285700072183591705000068232597107500090I509767610000149451421622467002415483281000020750002171117196806212500095223132443679000087650387184006323000027450352963486600000438709520484170000204953184145100030303298125000126681147718150000135645141232190000227214131417000015001474210136260001485816613360398Thisscheduleiscontinuedonthefollowingpage57IiIIIIIIIIIiiI IIIIIIIIIIIIiIIIIiIVILLAGEOFGLENVIEWILLINOISSCHEDULEOFREVENUESBUDGETANDACTUALContinuedGENrERALFUNDFortheYearEndedDecember312002withcomparativeactualfor2001CHARGESFORSERVICESREDAdministrationFirecornPlanreviewfeesReinspectionfeesElevatorinspectionfeesPlanningfeesConditionalusefeesElectricalinspectionEngineeringfeesGNASengineerngfeesUnclassifiedpublicworksOtherservicechargesLeasefeesDogimpoundingfeesMaintenanceofstateroadsTotalchargesforservicesFINESANDFORFEITSINVESTMENTINCOMESavingsInvestmentsNOWaccountsTotalinvestmentincomeOTHERREVENUESAmeritechinfrastructuremaintenanceInfrastmcturemaintenancefeeFranchisetaxcableTVNicorfranchisetaxLandsalesMiscellaneousTotalotherrevenuesTOTALREVENUES20022001BudgetActualActual426672000002271678578286575116093181265200003010729759121000214901412010000649399058000922273559000095655118993000002970855104061000000100001958029821000042907337802100002394161906764000207325611760216057511090481152553225000207720215284150007821992645000038748774878010000590511127475000401213769833165000104018143923281020215000249380241680300003573029165400000956654551502091032099208651508792511581342303371885301482171830593866Seeindependentauditorsreport58 VILLAGEOFGLENVIEWiLLINOISSCHEDULEOFEXPENDITURESBUDGETANDACTUALGENERALFUNDFortheYearEndedDecember312002GENERALGOVERNMENTBoardofTrusteesSpecialboardLegalEmergencyServiceDisasterAgencyVillageManagerFinanceInformationsystemsmanagementMunicipalbuildingandgroundsPersonnelandinsuranceCableTVTotalgeneralgovernmentPUBLICSAFETYPolicedepartmentFiredepartmentPrintingTotalpublicsafetyHIGHWAYSANDSTREETSDevelopmentandpublicservicesAdministrationPlanningandzoningEngineeringPublichealthBuildinginspectionTotaldevelopmentandpublicservicesPublicworksAdministrationOverheadStreetmaintenanceTrafficStormwatermanagementSnowandicecontrolForestryGroundsTotalpublicworksTotalhighwaysandstreetsTOTALEXPENDITURESBudgetActual382202150469155120265332170029870262003732552917559712135979677258355907657402927138225269333844783376310111278101807729659866372581444877845416828656881296927245038195165035051601330338325636787742395438210310006678836362354192278789698689861953013164284768932232832353012730641224255256960349595420440311357159650I5525746949539679426755035013822460017452833940873285454640725161331433020735428310171Seeindependentauditorsreport59iiIIIIIIIIIIIIIIItI VILLAGEOFGLENWIEWILLINOISSCHEDULEOFDETAILEDEXPENDITURESBUDGETANDACTUALGENERALFUNDFortheYearEndedDecember312002GENERALGOVERNMENTBoardofTrusteesPersonalservicesContractualservicesMaterialmdsuppliesTotalBoardofTrusteesSpecialboardContractualservicesMaterialandsuppliesCapitaloutlayTotalspecialboardLegalContractualservicesMaterialandsuppliesTomllegalEmergencyServiceDisasterAgencyContractualservicesMaterialandsuppliesOtherTotalemergencyservicedisasteragencyVillageMmlagerPersonalservicesContractualservicesMaterialmadsuppliesOtherCapitaloutlayLesstransfertoCapitalEquipmentReplacementFundTotalVillageManagerBudgetActual900090002622011504300010003822021504289551201145200015084000006915512026533180002959873700271532170029870251003732600500620037324382394793179803068429361019331753818393450064056191756871290009000552917559712Thisscheduleiscontinuedonlhefollowingpages60 VILLAGEOFGLENVIEWILLINOISSCHEDULEOFDETAILEDEXPENDITURESBUDGETANDACTUALContinuedGENERALFUNDFortheYearEndedDecember312002GENERALGOVERNMENTContinuedFinancePersonalservicesContractualservicesMaterialandsuppliesOtherCapitaloutlayTotalfinanceInformationsystemsmanagementPersonalservicesContractualservicesMaterialandsuppliesOtherCapitaloutlayTotalinformationsystemsmanagementMunicipalbuildingandgroundsPersonalservicesContractualservicesMaterialandsuppliesOtherCapitaloutlayTotalmunicipalbuildingandgroundsPersonnelandinsurancePersonalservicesContractualservicesMaterialandsuppliesOtherFICApaymentsInsuramceTotalpersomelandinsuranceBudgetActual6431176290016674651076213627028980100442876290041051359796772583136291121419335335359909123001342350004978701507430055907657402931282287852176002091691150040296O0061845000452627138225269375442819709341559758225017300168466600006816662536071253607033844783376310Thisscheduleiscontinuedonthefollowingpages61 VILLAGEOFGLENVIEWILLINOISSCHEDULEOFDETAILEDEXPENDITURESBUDGETANDACTUALContinuedGENERALFUNDFortheYearEndedDecember3i2002GENERALGOVERNMENTContinuedCableTVdepartmentPersonalservicesContractualservicesMaterialandsuppliesOtherCapitaloutlayTotalcableTVdepartmentTOTALGENERALGOVERNMENTPUBLICSAFETYPolicedepartmentPersonalservicesPensionContractualservicesMaterialandsuppliesOtherCapitaloutlayEquipmentrepairandreplacementLesstransfertoCapitalEquipmentReplacementFundTotalpolicedepartmentFiredeparmentPersonalservicesPensionContractualservicesMaterialandsuppliesOtherCapitaloutlayEquipmentrepairandreplacementLesstransfertoCapitalEquipmentReplacementFundTotalfiredepartmentBudgetActual54860528221355013693103007644456881122800019536111278101807729615986163172566725116545876562500549072425475337391177885135338462002428315368I605361266260551385126018213526368114368I108144487784541667834276698898540000527906299984369275218820222434700088762408001467466270315860478717062856018243049443049082865688129692Thisscheduleiscontinuedonthefollowingpages62 VILLAGEOFGLENVIEWILLINOISSCHEDULEOFDETAILEDEXPENDITURESBUDGETANDACTUALContinuedGENERALFUNDFortheYearEndedDecember312002PUBLICSAFETYContinuedPrintingContractualservicesMaterialandsuppliesTotalprintingTOTALPUBLICSAFETYHIGHWAYSANDSTREETSDevelopmentandpublicserviceGeeralPersonalservicesContractualservicesMaterialandsuppliesOtherLesstransfertoCapitalEquipmentReplacementFundTotalgeneralPlmmingandzoningPersonalservicesContractualservicesMaterialandsuppliesTotalplanningandzoningEngineeringPersonalservicesContractualservicesMaterialandsuppliesOtherCapitaloutlayLesstransfertoCapitalEquipmentReplacementFundTotalengineeringBudgetActual482502022124200179747245038195165035051601330332904234009250510236961300157168046918387656372277440044003832563678771571521557882653022244141500190142395438210390027178500565010638918700725348486492861000010001103246791543631800318001000667883636Thisscheduleiscontinuedonthefollowingpages63 IIIIVILLAGEOFGLENVIEWILLINOISSCHEDULEOFDETAILEDEXPENDITURESBUDGETANDACTUALContinuedGENERALFUNDFortheYearEndedDecember312002IIIIiIIIIIIIIIIHIGHWAYSANDSTREETSContinuedDevelopmentandpublicserviceContinuedPublichealthPersonalservicesContractualservicesMaterialandsuppliesOtherLesstransfertoCapitalEquipmentReplacementFundTotalpublichealthBuildinginspectionPersonalservicesContractualservicesMaterialandsuppliesOtherCapitaloutlayLesstransfertoCapitalEquipmentReplacementFundTotalbuildinginspectionTotaldevelopmentandpublicservicePublicworksAdministrationPersonalservicesContractualservicesMaterialandsuppliesTotaladmiuistrationThisscheduleiscontinuedonthefollowingpages64BudgetActual21460621828688654393610022571324810342242819235278740074002354192278788732418933885576048647890082424346765418180009993681015695295002950096986898619530131642847689288328285688275003129965006543322328323530 VILLAGEOFGLENVIEWILLINOISSCHEDULEOFDETAILEDEXPENDITURESBUDGETANDACTUALContinuedGENERALFUNDFortheYearEndedDecember312002IIIIHIGHWAYSANDSTREETSContinuedPublicworksContinuedOverheadPersonalservicesContractualservicesMaterialandsuppliesOtherCapitaloutlayEquipmentrepairandreplacementLesstransfertoCapitalEquipmentReplacementFundTotoverheadStreetmaintenancePersonalservicesMaterialandsuppliesTotalstreetmaintenanceTrafficPersonalservicesContractualservicesMateriaIandsuppliesTotaltrafficStormwatermanagementPersonalservicesContractualservicesMaterialandsuppliesCapitaloutlayTotalstormwatermanagementThisscheduleiscontinuedonthefollowingpage65BudgetActu6804418253121310508924740800296286000729622000300873728861428416175791568775344515344520127306412242552069603197195000029876256960349595946401270812893001615843650022692420440311357116480126I38122704582297002332812001209159650155257IIII1IItIIiiIII VILLAGEOFGLENVIEWILLINOISSCHEDULEOFDETAILEDEXPENDITURESBUDGETANDACTUALContinuedGENEKALFUNDFortheYearEndedDecember312002HIGHWAYSANDSTREETSContinuedPublicworksContinuedSnowandicecontrolPersonalservicesContractualservicesMaterialandsuppliesTotalsnowandicecontrolForestryPersonalservicesContractualservicesMaterialandsuppliesTotalforestryGroundsPersonalservicesContractualservicesMaterialandsuppliesTotalgroundsTotalpublicworksTOTALHIGHWAYSANDSTREETSBudgetActual28808024059911000202361704151359594694953967942392003314531725064281110012257267550350138936007739410500075804260002133022460017452833940873285454640725I6133143Seeindependentauditorsreport66 IIIII911CommuniGNASGNAScationsRedevelopmentCaretakerSpecialTaxAllocationTotals20022001III297501817842178631000760692036901057162451719750000290159620840075000004854371158681458851005559768831000205966140363i3192871127847606995369047061813611065IIi18491062681166783033994760161159657029119801951962050529317909182021134450000048543713445163590134587941402108849814036330584250806585189536903764779238220430584250806585189536903764779252256731928711278476069953690470671813611065IISeeaccompanyingnotestofinancialstatements68 VILLAGEOFGLENVIEWILLINOISCOMBININGSTATEMENTOFREVENUESEXPENDITURESANDCHANGESINFUNDBALANCESSPECIALREVENUEFLrNDSFortheYearEndedDecember312002withcomparativetotalsfor200IIIIiREVENUESTaxesIntergovernmentalChargesforservicesInvestmentincomeMiscellaneousTotalrevenuesEXPENDITURESCurrentGeneralgovernmentPublicsafetyPensionTotalexpendituresEXCESSDEFICIENCYOFREVENUESOVEREXPENDITURESOTHERFINANCINGSOURCESUSESOperatingtransfersinOperatingtransfersoutOperatingtransfersincomponentunitTotalotherfinancingsourcesusesEXCESSDEFICIENCYOFREVENUESANDOTHERFINANCINGSOURCESOVEREXPENDITURESANDOTHERFINANCINGUSESFUNDBALANCEDEFICITJANUARY1FUNDBALANCEDEFICITDECEMBER31ForeignIllinoisRefuseFireMunicipalMotorandInsuranceRetirementFuelTaxRecycling5134981190517395091110429288723203740143395375222211192554115057291099871791071791091099839537195689119255423957418604011608001005602866001160800395379091131754239574377590211825162338039537468501243579186295469IIIIIIIIIIiIIiI IIIIIIi911CommuniGNASGNASSpecialTaxTotalscationsRedevelopmentCaretakerAllocation20022001284178133552799954821190517113153349404016439781583065706748829448036358310062959459482408501107108229428465846253951389311715883849665231370136483604146890533012333012332950177179108061823012331588384966523137013658551845790252IIII199874158730296622914764483987671897135160500011615006492258944479817023400350751646809395070317328701913149944221005601446003507511540320106755053947484344521735781508774698210132193697412422122764434567193824159839167162522567224612430518425018065851895369037647792522567Seeaccompanyingnotestofinancialstatements70 VILLAGEOFGLENVIEWILLiNOISSTATEMENTOFREVENUESEXPENDITURESANDCHANGES1NFUNDBALANCEBUDGETANDACTUALILLiNOISMUNICIPALRETIREMENTFUNDFortheYearEndedDecember312002REVENUESTaxesPropertytaxescurremPropertytaxespriorReplacementtaxesInvestmentincomeTotalrevenuesEXPENDITURESPensionContractualservicesEXCESSDEFICIENCYOFREVENUESOVEREXPENDITURESOTHERFINANCINGSOURCESUSESOperatinglansfersin911CommunicationsFundWaterworksFundWholesaleWaterFundNorthMaineWaterFundGNASCaretakerFundGNASRedevelopmentFundSewerageFundMunicipalEquipmentRepairFundCommuterParkingLotFundComponentUnitLibraryFundTotalotherfinancingsourcesusesEXCESSDEFICIENCYOFREVENUESANDOTHERFINANCiNGSOURCESOVEREXPENDITURESANDOTHERFiNANCINGUSESFUq4DBALANCEJANIJARY1FUNDBALANCEDECEMBER31Seeaccompanyingnotestofinancialstatements71BudgetActual5000004855835007915200002000045008723525000522221862000717910337000195689940094006000060000100010002306523070230002300033278332801098510990222502225030503050100562100560286590286600S041090911377590468501IIIIIIIIIIIIIIIIIiI VILLAGEOFGLENVIEWILLINOISSTATEMENTOFREVENUESEXPENDITURESANDCHANGESINFUNDBALANCEBUDGETANI5ACTUALMOTORFUELTAXFUNDFortheYearEndedDecember312002REVENUESIntergovemmemalAllotmentsInvestmentincomeTotalrevenuesEXPENDITURESNoneEXCESSDEFICIENCYOFREVENUESOVEREXPENDITURESOTHERFINANCINGSOURCESUSESOperatingtransfersoutCapitalProjectsFundEXCESSDEFICIENCYOFREVENUESANDOTHERFINANCINGSOURCESOVEREXPENDITURESANDOTHERFINANCINGUSESFUNDBALANCEJANUARY1FUNDBALANCEDECEMBER31BudgetActual120000011905172600203712026001192554120260011925541160800I1608004180031754211825243579Seeaccompanyingnotestofinancialstatements72 VILLAGEOFGLENVIEWILLINOISSTATEMENTOFREVENUESEXPENDITURESANDCHANGESINFUNDBALANCEBUDGETANDACTUALREFUSEANDRECYCLINGFUNDFortheYearEndedDecember312002REVENUESChargesforservicesInvestmentincomeTotalrevenuesEXPENDITURESGeneralgovernmentContractualservicesMaterialsandsuppliesOtherTotalexpendituresEXCESSDEFICIENCYOFREVENUESOVEREXPENDITURESFUNDBALANCEJANUARY1FUNDBALANCEDECEMBER31BudgetActual1072125111042927500401431099625115057240007600031479935000879519101500091099884625239574162338018621954Seeaccompanyingnotestofinancialstatements73III1IIIIIIiIiIIIIII IIIIIIIIIIIIiIIIIIIVILLAGEOFGLENVIEWILLINOISSTATEMENTOFREVENUESEXPENDITURESANDCHANGESINFUNDBALANCEBUDGETANDACTUAL911COIvlMUNICATIONSFUNDFortheYearEndedDecember312002REVENUESChargesforservicesInvestmentincomeTotalrevenuesEXPENDITURESPublicsafetyPersonalservicesContractualservicesMaterialsandsuppliesOtherCapitaloutlayTotalexpendituresEXCESSDEFICIENCYOFREVENUESOVEREXPENDITURESOTHERFiNANCINGSOURCESUSESOperatingtansfersoutCorporateFundIllinoisMunicipalRetirementFundCapitalProjectFundCapitalEquipmentReplacementFundTotalotherfinancingsourcesusesEXCESSDEFICIENCYOFREVENUESANDOTHERFINANCINGSOURCESOVEREXPENDITURESANDOTHERFINANCINGUSESFUNDBALANCEJANUARY1FUNDBALANCEDECEMBER31Seeaccompanyingnotestofinancialstatements74BudgetActual47000049404080007067478000501107165664174471128800109135635023701750013676600015813243143012331536861998741200001200009400940019446126885268901562853507512599150877456719305842 VILLAGEOFGLENVIEWILLINOISSTATEMENTOFREVENUESEXPENDITURESANDCHANGESINFUNDBALANCEBUDGETANDACTUALGNASREDEVELOPMENTFUNDFortheYearEndedDecember312002REVENUESInvestmentincomeMiscellaneousTotrevenuesEXPENDITURESGeneralgovernmentEXCESSDEFICIENCYOFREVENUESOVEREXPENDITURESOTHERFINANCINGSOURCESUSESOperatingtransfersinSpecialTaxAllocationFundOperatingtransfersoutGeneralFundCapitalEquipmentReplacementFundIllinoisMunicipalRetirementFundTotalotherfinancingsourcesusesEXCESSDEFICIENCYOFREVENUESANDOTHERFINANCINGSOURCESOVEREXPENDITURESANDOTHERFINANCINGUSESFUNDBALANCEDEFICITJANUARY1FUNDBALANCEDEFICITDECEMBER31BudgetActual100488250059426001082225112215883842248522158730222850001605000200020001820029400332783328022315221540320170o046982382450806Seeaccompanyingnotestofinancialstatements75IIIIIIIIIIIIiIIIIiI VILLAGEOFGLENVIEWILLINOISSCHEDULEOFEXPENDITURESBUDGETANDACTUALGNASREDEVELOPMENTFUNDADMI2NISTRATIONDEPARTMENTFortheYearEndedDecember312002GENERALGOVERNMENTAdministrationPersonalserviceContractualservicesMaterialandsuppliesOtherchargesCapitaloutlayLesstransfertoCapitalEquipmentReplacementFundTOTALEXPENDITURESBudgetActualSeeindependentauditorsreport7659258061255412433607895663840020899358982165371360002939422693221617784182002940022511221588384 VILLAGEOFGLENVIEWILLINOISSTATEMENTOFREVENUESEXPENDITURESANDCHANGESINFUNDBALANCEBUDGETANDACTUALGNASCARETAKERFUNDFortheYearEndedDecember312002REVENUESInvestmentincomeEXPENDITURESGeneralgovernmentEXCESSDEFICIENCYOFREVENUESOVEREXPENDITURESOTHERFINANCINGSOURCESUSESOperatingtransfersinSpecialTaxAllocationFundOperatingtransfersoutGeneralFundCapitalEquipmentReplacementFundIllinoisMunicipalRetirementFundTotalotherfinancingsourcesusesEXCESSDEFICIENCYOFREVENUESANDOTHERFINANCINGSOURCESOVEREXPENDITURESANDOTHERFINANCINGUSESFUNDBALANCEDEFICITJANUARY1FUNDBALANCEDEFICITDECEMBER31BudgetActual1002941938360966523193826096622920250001161500200020006895068950230002300019310501067550721010132115983958s18Seeaccompanyingnotestofinancialstatements77IIIIIIIIIIIIiIIIIII VILLAGEOFGLENVIEWILLINOISSCHEDULEOFEXPENDITURESBUDGETANDACTUALGNASCARETAKERFUNDFortheYearEndedDecember312002GENERALGOVERNMENTOverheadPersonalserviceContractualservicesMaterialandsuppliesOtherchargesLesstransfertoCapitalEquipmentReplacementFundTotaloverheadStreetmaintenancePersonalserviceContractualservicesMaterialandsuppliesTotalstreetmaintenanceTrafficPersonalserviceContractualservicesMaterialandsuppliesCapitaloutlayTotaltrafficStormwatermanagementPersonalserviceContractualservicesMaterialandsuppliesTotalstormwatermanagementBudgetActual14560315018100224775003871358640227423398800236691689506895032985016774115600515685000833245001011008848012480728247300492688000524570000661401377801279351144017683500029921030084312674029106Thisscheduleiscontinuedonthefollowingpages78 VILLAGEOFGLENVIEWILL1NOISSCHEDULEOFEXPENDITURESBUDGETANDACTUALContinuedGNASCARETAKERFUNDFortheYearEndedDecember312002GENERALGOVERNMENTContinuedSnowandicecontrolPersonalserviceMaterialandsuppliesCapitaloutlayTotalsnowandicecontrolForestryPersonalserviceContractualservicesMaterialandsuppliesTotalforestryGroundsPersonalserviceContractualservicesMaterialandsuppliesTotalgroundsGreatparkmaintenancePersonalserviceContractualservicesMaterialandsuppliesTotalgreatparkmaintenanceLakemanagementPersonalserviceContractualservicesMaterialandsuppliesTotallakemanagementBudgetAcmaI22880926321000150674000001715443880260459360289815007327002078135605049124804514800006914011050021362029807579086320251112522001884968500285234702021645938480234119450013403110002414398036838Thisscheduleiscontinuedonthefollowingpage79 IIIIVILLAGEOFGLENVIEWILLINOISSCHEDULEOFEXPENDITURESBUDGETANDACTUALContinuedGNASCARETAKERFUNDFortheYearEndedDecember312002IIIIIIIIIIIIIIIGENERALGOVERNMENTContinuedPrairiemanagementPersonalserviceContractualservicesMaterialandsuppliesTotalprairiemanagementWaterdistributionsystemPersonalserviceContractualservicesMatehalandsuppliesTotalwaterdistributionsystemSanitarysewersystemPersonalserviceContractualservicesMaterialandsuppliesTotalsanitarysewersystemTOTALEXPENDITURESSeeindependentauditorsreport80BudgetActual18720903734500164475000386582202587043680785162275010032750071985939301515043432012529100040003177393201570619383609661523 VILLAGEOFGLENVIEWILLINOISSTATEMENTOFREVENUESEXPENDITURESANDCHANGESINFUNDBALANCEBUDGETANDACTUALSPECIALTAXALLOCATIONFUNDFortheYearEndedDecember312002BudgetActualREVENUESTaxesPropertytaxescurrentInvestmentincome554900028417814803Totalrevenues55490002846584EXPENDITURESGeneralgovernment3933000137013616160001476448EXCESSDEFICIENCYOFREVENrUESOVEREXPENDITURESOTHERFINANCINGSOURCESUSESOperatingtransfersinGlenLandSalesFundOperatingtransfersoutGNASRedevelopmentFundGNASCaretakerFundGNASBondFundCorporatePurposeBondSeriesof1996FundCorporatePurposeBondSeriesof1998FundTotalotherfinancingsourcesuses66500006492258228500016050002025000116150051377110748721032461288000027190001614872539474EXCESSDEFICIENCYOFREVENUESANDOTHERFINANCINGSOURCESOVEREXPENDITURESANDOTHERFINANCINGUSES1128936974FUNDBALANCEJANUARY116716FUNDBALANCEDECEMBER31953690Seeaccompanyingnotestofinancialstatements81IIIIIIIIIIIIIIIIIII IIIIIIIiIIIIIiIIIDEBTSERVICEFUNDSCorporatePurposeBondSeriesof1993FundThisissueintheamountof7635000wassoldtofinancevariouscapitalprojectsthroughouttheGovernmentincludingbutnotlimitedtothepublicworksgaragevariousstreetprojectsandcapitalpurchasesCorporatePurposeBondSeriesof1994FundThisissueintheamountof8040000wassoldtopartiallyrefundboththeCorporatePurposeBondSeriesof1989andtheCorporatePurposeBondSeriesof1990CorporatePurposeBondSeriesof1996FundThisissueintheamountof8435000wassoldtofinanceGeneralObligationBondAnticipationBondsthatmaturedin1996CorporatePurposeBondSeriesof1998FundTheseissuesintheamountsof10000000ofSeriesAand24400000ofSeriesBweresoldtofinancethedevelopmentoftheGlenviewNavalAirBaseCorporatePurposeBondSeriesof2000FundThisissueintheamountof4970000wassoldtofinancevariouscapitalimprovementsthroughouttheVillageCorporatePurposeBondSeriesof2001FundThisissueintheamountof41800000wassoldtofinancethedevelopmentoftheformerGlenviewNavalAirStationGeneralObligationRefundingBondSeriesof2002FundThisissueintheamountof6885000wassoldtorefundtheCorporatePurposeBondSeriesof1993and1994 Thispageisintentionallylefblank IIIIIIIIIIIIIIIIIII VILLAGEOFGLENVIEWILLINOISCOMBININGSTATEMENTOFREVENUESEXPENDITURESANDCHANGESINFUNDBALANCESBUDGETANDACTUALDEBTSERVICEFUNDSFortheYearEndedDecember312002withcomparativetotalsfor2001IIIIREVENUESTaxesPropertytaxesEXPENDITURESPrincipalretirementInterestandfiscalchargesTotalexpendituresEXCESSDEFICIENCYOFREVENUESOVEREXPENDITURESOTHERFINANCINGSOURCESUSESOperatingtransfersinGeneralFundWaterworksFundSewerageFundSpecialTaxAllocationFundOperatingtransfersoutGeneralObligationRefundingBondSeriesof2002TotalotherfinancingsourcesusesEXCESSDEFICIENCYOFREVENUESANDOTHERFINANCINGSOURCESOVEREXPENDITURESANDOTHERFINANCINGUSESFUNDBALANCESDEFICITJANUARY1FUNDBALANCESDECEMBER31CorporatePurposeBondSeriesof993CorporatePurposeBondSeriesof1994CorporatePurposeBondSeriesof1996BudgetActualBudgetActualBudgetActual9962764934757751693852579300930015500129713600020760101006501102107651574681116940601710100650179000011600007750007750002074761200120145300472300173997476120012801451075472107517323600514546468976406017l06537210686724233318044680446783331108342510748721032461783331503777100297910748721032461236002687853480159696295003621I26878559696249536S1332585IIIIIIIIIIIIIII IIIIICorporatePurposeCorporatePurposeCorporatePurposeTotalsBondSeriesof998BondSeriesof2000BondSeriesof200120022001BudgetActualBudgetActualBudgetActualBudletActualActualI1771445878732174161793009300930029300250205002227090230059162302955331474762930025020500222709023005919430479835651898393139500013950004I200002170000259000015016641499864220935219935169485016948504045542371602224550912896664289486422093521993516948501694850816554258860225045091IIi2867364286984422043521971316239481664791622249549024573146698288000027190002193352193362193352193362108054233314378818044680446826273954872375146I1069500186675628800002719000219335219336467798421844871800813II12636IIIII15084437781623948166479115441511277970134588516321368631726165281152424312412369S648661374935541085359Seeaccmnpanyingnotestofinancialstatements86 iCAPITALPROJECTSFUNDSiIIICapitalEquipmentReplacementFundtoaccountforthefundsannuallysetasidefortheeventualreplacementofcertaincapitalequipmentCapitalProjectsFundtoaccountforrevenuesandexpendituresinvolvedwithallothercapitalimprovementsthroughouttheVillageVillagePemanentFundtoaccumulate20ofthelandsalesproceedsoftheGlenviewNavalAirBaseforvillagewideimprovementsaswellasshorttermliquiditytotheVillagesTI1eprojectsencompassingTheGlenBondFundSeries1993toaccountfortheproceedsreceivedfromtheCorporatePurposeBondSeriesof1993IIIIIGNASBondFundSeries1995toaccountforvariousdevelopmentandotherprojectsrelatedtotheGlenviewNavalAirBaseandfinancedwiththeGeneralObligationBondAnticipationBondSeriesof1995GlenLandSalesFundtoaccountforgrantfundslandsalesandpropertytaxrevenuesviatheTaxIncrementFinanceDistrictrelatedtotheGlenviewNavalAirBase2000ProjectFundtoaccountforthefundsderivedfromthe2000GeneralObligationBondissue2001ProjectFundtoaccountforthefundsderivedfromthe2001GeneralObligationBondissue IiI IiIIIiIIIIIIIIiIThispageisintentionallyleftblank IIiIIIlIIIIIIII1I IIIIiIIIIIIIIIlII IiIIIIIIIIIIIIiIi IIIIiIIIIIiIIiII VILLAGEOFGLENVIEWILLINOISSCHEDULEOFDETAILEDEXPENDITURESBUDGETANDACTUALGNASBONDFUNDSERIES1995FortheYearEndedDecember312002PROJECTCOSTSVillageofGlenviewDevelopmentDepartmentfeesPropertysurveysplatsjurisdictionmapsLakeconstructionRoadwayengineeringdesignandconstructionmanagementMemorialrestorationWillowPatriotBoulevardintersectionStreetlightingandtrafficsignalsexceptLehighSCADAsystemPrairieandwetlandmanagementandmitigationLakeoutletPatriotBoulevardWillowtoWestLakeRoadwaymediansandparkwaylandscapingWestLakeWestGatetoPatriotBoulevardPatriotBoulevardWestLaketoChestnutLehighAvenueroadwaysWestLakeLehighAvenuetoPatriotBoulevardChesmuffPatriotBoulevardtogolfcourseShermerOldWillowRoadtoWestLakeLehighAvenuelightingLehighAvenuetrafficsignalLehighAvenuestormwaterdrainageWestsideengineeringandconstructionmanagementRugenreservoirengineeringandconstructionmanagementAandBEastsideengineeringandconstructionmanagementWestsidereservoirandpumphouseconstructionRugenreservoirandpumphouseconstructionAandBEastsideconstructionWatersystemanalysisWatersourceimprovements36transmissionWestgatetoWestsideengineeringandconstructionmanagement36transmissionlineWestgatetoWestsideconstructionUtilityallowanceBudgetActual375000022500017845358000021629713000001243128100000154396500001163682254000391122500001861415642751738040000089406100000609721645546605515000067532650000160642500000318675510000048438000004961002500007523159416120091471400073819300000013734542500055000018800011323785000004000000100000037397115000t8984000000488042620000150000687781000000257545Thisscheduleiscontinuedonthefollowingpage94IIIiIIiIIIIIIIIII IIiIIIIIIIIIiIIIIIIVILLAGEOFGLENVIEWILLINOISSCHEDULEOFDETAILEDEXPENDIqURESBUDGETANDACTUALContinuedGNASBONDFUNDSERIES1995FortheYearEndedDecember312002PROJECTCOSTSContinuedStormwaterdesignBuildingdemolitionOtherdemolitionEnvironmentaldemolitionandrestorationMiscellaneousrestorationMichaelJosephFoundationPotablewaterconstructionworkStormwaterpipingconstructionSanitarysewerconstructionMetrastationdesignandconstructionMetrastationparkinglotsGalleryparklandscapingandamenitiesGalleryparkplanningSnowdumpingareaLandpurchaseeasementsConstructionfencesiltfenceTheGlenFireStationprojectPublicworkscampusimprovementBikepathsallWestLakeAvenueSidewalksonWillowandShermerPrairieLawnClosingNIPSTADriversTrainPadYouthServicesTempSpaceThomasPlaceContingencyTOTALEXPENDITURESBudgetActual600001885000i94502990910870000022041340000500000450294204751771329833000027037045000026796001204340229031606119158000970948451000000500006770240000096640350000500000211162500001500003154140000055754920000015000017124005336040218398567Seeindependentauditorsreport95 ENTERPRISEFUNDSWaterworksFundtoaccountfortheprovisionofwaterservicetotheresidentsofGlenviewAllactivitynecessarytoprovidesuchservicesisaccountedforinthisfundincludingbutnotlimitedtoadministrationDirectoroPublicWorksoperationmaintenancefinancingandrelateddebtserviceandbillingandcollectionWholesaleWaterFundtoaccountfortheprovisionofwaterservicetotheIllinoisAmericanWaterCompanyenablingtheprivateutilitytoreceiveLakeMichiganwaterNorthMaineWaterandSewerFundtoaccountforallfinancialactivityrelatedtotheVillageprovidingwaterandsewerservicetoanunincorporatedareasouthwestotheVillageThisareawasformerlyservedbytheNorthSubmbanPublicUtilitiesCompanySewerageFundtoaccountforthefundsnecessarytoprovidesanitarysewerservicetobothincorporatedandunincorporatedVillageofGlenviewcustomersCommuterParkingLotFundtoaccountfortheactivityinvolvedwithbutnotlimitedtotheadministrationFinanceDirectorsaleofpermitsandmaintenanceofthecommuterparkingfacilitieswithintheVillage o C o VILLAGEOFGLENVIEWILLiNOISSTATEMENTOFREVENUESEXPENSESANDCHANGESINRETAINEDEARNINGSBUDGETANDACTUALWATERWORKSFUNDFortheYearEndedDecember312002BudgetActualOPERATINGREVENUESChargesforservicesWaterchargesWatermeterrepairchargesWaterconnectionchargesWatermetersandremotereadersMiscellaneousLatepaymentfeesBrassfittingsWaterforconstructionTurnonchargeRecaptureagreementsOther6880368677921017501000001779815000017141060000738402500047036200007045850006695100004793500044968Totaloperatingrevenues71553687378i41OPERATINGEXPENSESEXCLUDINGDEPRECIATIONAdministrationOperationsSupplyandmeteringPumpingstationeastPumpingstationwestDistributionsystemOverhead256724293968286622029253062794702422191943001215088619807993792388619439719Totaloperatingexpensesexcludingdepreciation684731348220993080552556042668509308055188753382500654853905551953018OPERATINGINCOMEBEFOREDEPRECIATIONDEPRECIATIONOPERATINGINCOMENONOPERATINGREVENUESInvestmentincomeINCOMEBEFOREOPERATINGTRANSFERSThisstatementiscontinuedonthefollowingpage102 VILLAGEOFGLENVIEWILLINOISSTATEMENTOFREVENUESEXPENSESANDCHANGESINRETAINEDEARNINGSBUDGETANDACTUALContinuedWATERWORKSFUNDFortheYearEndedDecember312002OPERATINGTPNSFERSINOUTGeneralFundWholesaleWaterFundIllinoisMunicipalRetirementFundNorthMaineWaterSewerFundCorporatePurposeBonds1994FundCorporatePurposeBonds2002FundCapitalEquipmentReplacementFundCapitalProjectsFundTotaloperatingtransfersinoutNETINCOMELOSSRETAINEDEARNINGSJANUARY1RETAINEDEARNINGSDECEMBER31BudgetActual508600508600300003000060000600006o0o042333142333113098013098082000020329111152911164213568001071763896818439075Seeaccompanyngnotestofinancialstatements103 VILLAGEOFGLENVIEWILLINOISSCHEDULEOFOPERATINGEXPENSESBUDGETANDACTUALWATERWORKSFUNDFortheYearEndedDecember3I2002ADMINISTRATIONContractualservicesMaterialsandsuppliesOtherTotaladministrationOPERATIONSSupplyandmeteringPersonalservicesContractualservicesWaterpurchaseMaterialsandsuppliesTotalsupplyandmeteringPumpingstationeastPersonalservicesContractualservicesMaterialsandsuppliesCapitaloutlayTotalpumpingstationeastPumpingstationwestPersonalservicesContractualservicesMaterialsandsuppliesTotalpumpingstationwestDistributionsystemPersonalservicesContractualservicesMaterialsandsuppliesCapitaloutlayTotaldistributionsystemBudgetActual21500647041500233724229264256724293968117520124379751005033325896002684410840006618428662202925306681207330218540015606211950128551400027947024221939000383881436007194911700111711943001215085168804522521915001612441281001709962550014887861980799379Thisscheduleiscontinuedon1hefollowingpage104 VILLAGEOFGLENViEWILLINOISSCHEDULEOFOPERATINGEXPENSESBUDGETANDACTUALContinuedWATERWORKSFUNDFortheYearEndedDecember312002OPERATIONSContinuedOverbeadPersonalservicesContractualservicesMaterialsandsuppliesOtherCapitaloutlayLessnonoperatingexpensesFixedassetscapitalizedTotaloverheadTOTALOPERATINGEXPENSESEXCLUDINGDEPRECIATIONBudgAcmal30255326757258960239802442516802134681105355281696797497733375861388686948967948967238861943971968473134822099Seeindependentauditorsreport105 r4 VILLAGEOFGLENVIEWILLINOISSTATEMENTOFREVENUESEXPENSESANDCHANGES1NRETAINEDEARNINGSBUDGETANDACTUALWHOLESALEWATERFUNDFortheYearEndedDecember312002OPERATINGREVENUESWatersalesOPERATINGEXPENSESEXCLUDINGDEPRECIATIONOperationsSupplyandmeteringPumpingstationDistributionsystemTotaloperatingexpensesOPERATINGINCOMEBEFOREDEPRECIATIONDEPRECIATIONANDAMORTIZATIONOPERATINGINCOMENONOPERATINGREVENndESEXPENSESInvestmentincomeInterestexpenseTotalnoaoperatingrevenuesexpensesINCOMEBEFOREOPERATINGTRANSFERSOPERATINGTRANSFERSINWaterworksFundTotaloperatingtransferinOPERATINGTRANSFERSOUTCapitalProjectsFundIllinoisMunicipalRetirementFundGenemlFundTotaloperatingtransfersoutNETINCOMELOSSRETAINEDEARNINGSJANUARY1RETAINEDEARNINGSDECEMBER31Seeaccompanyingnotestofinancialstatements107BudgetActual129381014199958165437739597266094952508014758942838703863995275496096385939952748575021500170291329501323571114501153282880773704223000030000300003000040000040000010001000112150112150513150513150195073112728564303451575 VILLAGEOFGLENVIEWILLINOISSCHEDULEOFOPERATINGEXPENSESBUDGETANDACTUALWHOLESALEWATERFUNDFortheYearEndedDecember312002OPERATIONSSupplyandmeteringContractualservicesMaterialandsuppliesOtherTotalsupplyandmeteringPumpingstationPersonalservicesContractualservicesMaterialandsuppliesTotalpumpingstationDistributionsystemPersonalservicesContractualservicesBondprincipalLessnonoperatingexpensesTotaldistributionsystemTOTALOPERATINGEXPENSESEXCLUDINGDEPRECIATIONBudgetActual8069807655545002129063819381654377395911960160585970078154100074072660949522080153000146013000013000013508013147513oooo13oooo50801475894283870386Seeindependentauditorsreport108 VILLAGEOFGLENVIEWILLINOISSTATEMENTOFREVENUESEXPENSESANDCHANGESENRETAINEDEARNINGSBUDGETANDACTLIALNORTHMAINEWATERANDSEWERFUNDFortheYearEndedDecember312002OPERATINGREVENUESChargesforservicesWaterchargesSewerchargesMiscellaneousNewwatermetersLatepaymentfeesOtherTotaloperatingrevenuesOPERATINGEXPENSESEXCLUDINGDEPRECIATIONAdministrationOperationsSupplyandmeteringPumpingstationDistributionsystemCollectionsystemTotaloperatingexpensesOPERATINGINCOMEBEFOREDEPRECIATIONDEPRECIATIONANDAMORTIZATIONOPERATINGINCOMENONOPERATINGREVENUESEXPENSESImestmentincomeInterestexpenseTotalnonoperatingrevenuesexpensesINCOMEBEFOREOPERATINGTRANSFERSBudgetActual51650005369445333125328037500695650000434759558554862557574715143544148033634480365188289100587253908603203271187604776147475544493498801071126397325959480107110043793000022466393550384007363550361541437521642838Thisstatementiscontinuedonthefollowingpage110 VILLAGEOFGLENVIEWILLINOISSTATEMENTOFREVENUESEXPENSESANDCHANGESINRETAINEDEARNINGSBUDGETANDACTUALContinuedNORTHMAINEWATERANDSEWERFUNDFortheYearEndedDecember3I2002OPERATINGTRANSFERSINWaterworksFundTotaloperatingtransfersinOPERATINGTRANSFERSOUTGeneralFundCapitalEquipmentReplacementFtmdCapitalProjectsFundIllinoisMunicipalRetirementFundTotaloperatingtransfersoutNETINCOMELOSSRETAINEDEARNINGSDEFICITJANUARY1RETAINEDEARNINGSDEFICITDECEMBER31BudgetActual60000600003075003075003689636900237000237000230652307060446160447010694038368274344235976Seeaccompanyingnotestofinancialstatements111 VILLAGEOFGLENVIEWILLINOISSCHEDULEOFOPERATINGEXPENSESBUDGETANDACTUALNORTHMAINEWATERANDSEWERFUNDFortheYearEndedDecember312002ADMINISTRATIONPersonalservicesContractualservicesMaterialandsuppliesBondandnoteprincipalOtherLessnonoperatingexpensesBondandnoteprincipalpaidTotaladministrationOPERATIONSSupplyandmeteringPersonalservicesContractualservicesMaterialandsuppliesCapitaloutlayTotalsupplyandmeteringPumpingstationPersonalservicesContractualservicesMaterialandsuppliesTotalpumpingstationDistributionsystemPersonalservicesContractualservicesMaterialandsuppliesCapitaloutlayTotaldistributionsystemCollectionsystemPersonalservicesContractualservicesMaterialandsuppliesCapitaloutlayTotalcollectionsystemTOTALOPERATINGEXPENSESEXCLUDINGDEPRECIATIONBudgAual1300001287671264001221817000937I225000225000250954154484739354639803225000225000514354414803113880750583410600350647110000220810000068145363448036518822600019904610003663621002185891005872511336014368712200013149350500407051050004442390860320327353603048624000940062505000011025118760477614747554S4493498Seeindependentauditorsrepom112 0Z VILLAGEOFGLENVIEWILLINOISSTATEMENTOFREVENUESEXPENSESANDCHANGESINRETAINEDEARNINGSBUDGETANDACTUALSEWERAGEFb2NDFortheYearEndedDecember312002OPERATINGREVENUESChargesforservicesSewerchargesSewerconnectionchargesLatepaymentfeesTotaloperatingrevenuesOPERATINGEXPENSESEXCLUDINGDEPRECIATIONAdministrationOperationsPumpingstationCollectionTotaloperatingexpensesOPERATINGINCOMEBEFOREDEPRECIATIONDEPRECIATIONOPERATINGINCOMENONOPERATINGREVENUESInvestmentincomeINCOMEBEFOREOPERATINGTRANSFERSOPERATINGTRANSFERSOUTGeneralFundIllinoisMunicipalRetirementFundCapitalEquipmentReplacementFundCapitalProjectsFundt994GeneralObligationDebtServiceFundTotaloperatingtransfersoutNETINCOMELOSSRETAINEDEARNINGSJANUARY1RETAINEDEARNINGSDECEMBER31BudgetActual835975997274750021808750012147850975103122919236286600353481712522441726799745212737172239884865950712886639884853064175006729406348537370711757118010985109902556125560430000100000804468044661816728817621181924919436301503879344Seeaccompanyingnotestofinancialstatements114 VILLAGEOFGLENVIEWILLINOISSCHEDULEOFOPERATiNGEXPENSESBUDGETANDACTUALSEWERAGEFUNDFortheYearEndedDecember312002ADMINISTRATIONOtherTotaladministrationOPERATIONSPumpingstationGeneralPersonalservicesContractualservicesMaterialandsuppliesTotalgeneralHeatherfieldliftstationPersonalservicesContractualservicesMateralandsuppliesTotalHeatherfieldliftstationTotalpumpingstationCollectionsystemPersonalservicesContractualservicesMaterialandsuppliesTotalcollectionsystemTOTALOPERATINGEXPENSESBudgActual192362866001923628660084246286980037601200491194241053784244631630011041200853159246588353481712516653721020429780389062810018887224417267997452127371722Seeindependentauditorsreport115 VILLAGEOFGLENVIEWILLINOISSTATEMENTOFREVENUESEXPENSESANDCHANGESINRETAINEDEARNINGSBUDGETANDACTUALCOMMUTERPARKINGLOTFUNDFortheYearEndedDecember312002OPERATINGREVENUESChargesforservicesMeterfeesParkingdecalsMiscellaneousTotaloperatingrevenuesOPERATINGEXPENSESAdministrationOperationsDepreciationTotaloperatingexpensesOPERATINGINCOMELOSSNONOPERATINGREVENUEInvestmentincomeINCOMELOSSBEFOREOPERATINGTRANSFERSOPERATINGTRANSFERSOUTGeneralFundIMRFFundTotaloperatingtransfersoutNETINCOMELOSSRETAINEDEARNINGSJANUARY1RETAINEDEARNINGSDECEMBER31BudgetActual4000061533207000213154600060052530002806921995601488477028041908813226984019888716840818053000262341384010803945000450003o5o305048050480506189059989275773335762Seeaccompanyingnotestofinancialstatements117 VILLAGEOFGLENVIEWILLINOISSCHEDULEOFOPERATINGEXPENSESBUDGETANDACTUALCOMMUTERPARKINGLOTFUNDFortheYearEndedDecember312002ADMINISTRATIONPersonalservicesContractualservicesMaterialandsuppliesCapitaloutlayTotaladministrationOPERATIONSPersonalservicesContractualservicesMaterialandsuppliesTotaloperationsTOTALOPERATINGEXPENSESBudgetActual316351222014652511958i19400149422000210419956014884725480128253860028031620010527028041908269840190755Seeindependentauditorsreport118 IIIIIIIIIIIIiIIiIiIINTERNALSERVICEFUNDSMunicipalEquipmentRepairFundtoaccountforthecostsofrepairmgandmaintainingallvehiclesoftheVillageThesecostsincludelabormaterialfuelandfixedoverheadoftheVillagesrepairfacilityInsuranceFundtoaccountforthefinancialactivityoftheVillagesentireinsuranceprogramInadditiontoconventionalprmaryinsurancetheVillageisamemberoftheHighLevelExcessLiabilityPoolHELPwhichprovidesexcessliabilitycoverageAlsotheVillageprovideshealthandlifeinsurancebyparticipatingintheIntergovernmentalPersomaelBenefitCooperativemBC VILLAGEOFGLENVIEWILLINOISCOMBININGBALANCESHEETINTERNALSERVICEFUNDSDecember312002withcomparativetotalsfor2001ASSETSCURRENTASSETSCashInvestmentsReceivablesAccountsnetDuefromotherfundsDepositsTotalcurrentassetsFIXEDASSETSCostAccumulateddePreciationNetfixedassetsTOTALASSETSLIABILITIESANDRETAINEDEARNINGSCURRENTLIABILITIESAccountspayableClaimspayableDeferredrevenueDuetootherfundsOtherpayablesTotalliabilitiesRETAINEDEARNINGSUNRESERVEDTOTALLIABILITIESANDRETAINEDEARNINGSMunicipalEquipmentRepairTotalsInsurance2002200188507704080792587437570217000021700002575289472552429967255007549025490216651593332093332089037214813438126423960776432475355958559585595811991119913997439674396751961192101381264240047434376714839119859937701288041765851765853729966680668065661938319383814478144781447103294274571377865589813888073538071362687837869011921013812642410047434376714Seeaccompanyingnotestofinancialstatements120IIIIIIIIIIIIIIIiI IIIIV1LLAGEOFGLENVEWILLINOISCOMBININGSTATEMENTOFREVENUESEXPENSESANDCHANGESINRETAINEDEARNINGSINTERNALSERVICEFUNDSFortheYearEndedDecember312002withcomparativetotalsfor2001IIIIIIIIIIIIIIOPERATINGREVENUESChargesforserviceshsurancerecoveriesMiscellaneousTotaloperatingrevenuesOPERATINGEXPENSESOperationsDepreciationTotaloperatingexpensesOPERATINGINCOMELOSSNONOPERAT1NGREVENUESInvestmentincomeNETINCOMELOSSBEFOREOPERATINGTRANSFERSOPERATINGTRANSFERSOUTCapitalEquipmentReplacementFundIMRFFundTotaloperatingtransfersoutNETINCOMELOSSRETAINEDEARNINGSJANUARY1RETAINEDEARNINGSDECEMBER31MunicipalEquipmentTotalsRepairInsurance20022001912747327855341913004135857198741987418085810237117317927545573041013644399028450039284711246111216440740825186246503413579947994399711201584074082519424050381321065148379819031232688631546938572539167858103360I44131177731590282000020000130002225022250422504225013000145610I4413160023172028234417355248437869013958929888073538071362687837867901Seeaccompanyingnotestofinancialstatements121 VILLAGEOFGLENVIEWILLINOISCOMBININGSTATEMENTOFCASHFLOWSINTERNALSERVICEFUNDSFortheYearEndedDecember312002withcomparativetotalsfor2001IIICASHFLOWSFROMOPERATINGACTIVITIESOperatingincomelossAdjustmentstoreconcileoperatingincomelosstonetcashfromoperatingactivitiesDepreciationandamortizationChangesinassetsandliabilitiesAccountsreceivableDepositsDuefromotherfundsPrepaidexpensesAccountspayableClaimspayableDeferredrevenueOtherpayablesDuetootherfundsNetcashfromoperatingactivitiesCASHFLOWSFROMNONCAP1TALFINANCINGACTIVITIESOperatingtransferoutCASHFLOWSFROMCAPITALANDRELATEDFINANCINGACTIVITIESFixedassetspurchasedCASHFLOWSFROMINVESTINGACTIVITIESPumhaseofinvestmentsMaturitiesofinvestmentsInvestmentincomereceivedNetcashfrominvestingactivitiesNETINCREASEDECREASEINCASHANDCASHEQUIVALENTSCASHANDCASHEQUIVALENTSJANUARYICASHANDCASHEQUIVALENTSDECEMBER31MunicipalEquipmentRepairTotalsInsurance200220011065148379819031232688679947994399716552433852450402510724294842948444281116131116131605151981832583991943503337866619641119641110337411411465668144719383193838292888528056067914442250422501300055958678504240528940528970832543154693847253816785831544746734778274660703080438582135501728203211931131825943757071960288507704080792587437570Seeaccompanyngnotestofinancialstatements122IIIIIIIIIIIIIII IIIIIIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISSTATEMENTOFREVENUESEXPENSESANDCHANGESINRETAINEDEARNINGSBUDGETACTUALMUNICIPALEQUIPMENTREPAIRFUNDFortheYearEndedDecember312002OPERATINGREVENUESChargesforservicesInsurancerecoveriesMiscellaneousTotaloperatingrevenuesOPERATINGEXPENSESOperationsDepreciationTotaloperatingexpensesOPERATINGINCOMELOSSNONOPERATINGREVENUESInvestmentincomeINCOMELOSSBEFOREOPERATINGTRANSFERSOPERATINGTRANSFERSOUTCapitalEquipmentReplacementFundMRFFundTotaloperatingtransfersoutNETINCOMELOSSRETAINEDEARNINGSJANUARY1RETAINEDEARNINGSDECEMBER31BudgetActual1117267912747100001987469500810231196767101364411973371112164799411973371120158570106514650031545930103360200002000022502225042250422503632014561023441788807Seeaccompanyingnotestofinancialstatements123 VILLAGEOFGLENVIEWILLINOISSCHEDULEOFOPERATINGEXPENSESBUDGETANDACTUALMUNICIALEQUIPMENTREPAIRFUNDFortheYearEndedDecember312002OPERATIONSRegularsalariesOvertimesalariesTemporarysalariesLongevitypayFICApaymentContractualprofessionalservicesDuessubscriptionmembershipMaintenanceofequipmentMaintenanceofbuildingsAccidentrepairsInsuranceTrainingVillagewideinfosystemsUniformallowanceFuelMotorvehiclesuppliesCleaningandhouseholdsuppliesMaintenancematerialsequipmentMaintenancematerialsbuildingsSmalltoolsandequipmentMachineryandequipmentTOTALOPERATINGEXPENSESSeeindependentauditorsreport124BudgetActual35880028388013520150049880636748504849297002512340003181401150001447244000109292000028415532605326037007043349800506929698724817268000568015800685215200016650665007543450049523700036133119773371112164IIIIIIIIIIIIIiIIII IIIIII VILLAGEOFGLENVIEWILLINOISSTATEMENTOFREVENUESEXPENSESANDCHANGESINRETAINEDEARNINGSBUDGETANDACTUALINSURANCEFUNDFortheYearEndedDecember312002OPERATINGREVENUESChargesforservicesFundchargesMiscellaneousInsurancepremiumretireesReturnedpremiumsInsurancerecoveriesTotaloperatingrevenuesOPERATINGEXPENSESOperationsContractualprofessionalservicesHealthandlifeinsuranceDentalinsuranceExcessliabilityUnemploymentbenefitsGeneralinsuranceprogramPTMpolicyPropertycasualtyclaimsWorkerscompensationinsuranceTotaloperatingexpensesOPERATINGINCOMELOSSNONOPERTINGREVENUESInvestmentincomeNETINCOMELOSSRETAINEDEARNINGSJANUARYIRETAINEDEARNINGSDECEMBER31BudgetActual34785483278553288675284066646061000036305937772233990284500026192828270284839016950072154820009505330000400000375210157101580030000058637013000078486396048040740821832578379810250069385807571441335524843538071Seeaccompanyingnotestofinancialstatements126IIIIIiIIIIIIIIIIIII IIiIiIIIIIIIIIIIITRUSTANDAGENCYFUNDSExpendableTrustEscrowDepositFundtoaccountforthefundsplacedondepositwiththeVillagebybuildingcontractorsworkingwithintheVillageslimitsInterestearnedonescrowdepositsisannuallytransferredtotheCorporateFundDepositFundtoaccountformoneyondepositwiththeVillagebeingheldonatemporarybasissuchassecuritydepositsforuseoftheVillagesequipmentPoliceDepartmentSpecialAccountFundtoaccountforfundsreceivedfromtheIllinoisStatePoliceofficetobeusedinvarioustypesofinvestigationsPensionTrustPolicePensionFundtoaccountfortheresourcesnecessarytoprovidedisabilityandretirementbenefitstopersonneloftheGlenviewPoliceDepartmentFirefightersPensionFundtoaccountfortheresourcesnecessarytoprovidedisabilityandretirementbenefitstopersonneloftheGlenviewFireDepartmentAgencySpecialServiceAreasFundtoaccountforvariousspecialserviceareabondissuesArbitrageRebateFundtoaccountfortherecordingandpaymentofanyarbitragerebatespayable zIIiIIIIIIIIII IIiIIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISCOMBININGSTATEMENTOFPLANNETASSETSPENSIONTRUSTFUNDSDecember312002ASSETSCashandcashequivalentsInvestmentsatfairvalueUSgovernmentobligationsMunicipalbondsInsurancecontractsMutualfundsCertificatesofdepositTotalinvestmentsatfairvalueTotalassetsLIABILITIESAccountspayableNETASSETSHELDINTRUSTFORPENSIONBENEFITSPoliceFirefightersPensionPensionTotals853419488859134227825515735403812956589703062135365655427790195839468979726481911671952175301634249681000000650000165000030208216438397637404797931061635443286227539025712001770297031060743544326852753877287Seeaccompanyingnotestofinancialstatements128 VILLAGEOFGLENVIEWILLINOISCOMBININGSTATEMENTOFREVENUESEXPENDITURESANDCHANGESINFUNDBALANCESEXPENDABLETRUSTFUNDSFortheYearEndedDecember312002withcomparativetotalsfor2001IiIREVENUESFinesandforfeitsInvestmentincomeSaleofequipmentTotalrevenuesEXPENDITURESPublicsafetyEXCESSDEFICIENCYORREVENUESOVEREXPENDITURESOTHERFINANCINGSOURCESUSESOperatingtransfersoutGeneralFundEXCESSDEFICIENCYOFREVENUESANDOTHERFINANCINGSOURCESOVEREXPENDITURESANTOTHERFINANCINGUSESFUNDBALANCESJANUARY1FUNDBALANCESDECEMBER31PoliceDepartmentEscrowSpecialTotalsDepositDepositAccount200220011162372121646664662301185881801053175317511623721219871128229180105977497743211623721219711845518007312000012000017235137632121971545772214916153706260882289552212331453985582726185227410228955Seeaccompanyingnotestofinancialstatements129iIIIIIIIIIIIIi iIiIiIIIIIIIIiiIVILLAGEOFGLENVIEWILLINOISCOMBININGSTATEMENTOFCHANGESINPLANNETASSETSPENSIONTRUSTFUNDSFortheYearEndedDecember312002ADDITIONSContributionsemployerContributionsplanmembersTotalcontributionsInvestmentincomeNetappreciationdepreciationinfairvalueofinvestmentsInterestearnedoninvestmentsTotalinvestmentincomeTotaladditionsDEDUCTIONSPensionsandrefundsMiscellaneousContractualprofessionalservicesTotaldeductionsNETINCREASENETASSETSHELDINTRUSTFORPENSIONBENEFITSJanuary1December31PoliceFirefightersPensionPensionTotal54007252790610679784734074300529034591013479957958197143711746611975860315052168152810030811684609185618929789414835130286966839368996806567117902015788472757867105901068321273118961015895302779140168005823473694027427293803774197948371359860310604354432685275387287Seeaccompanyingnotestofinancialstatements130 VILLAGEOFGLENVIEWILLINOISCOMBININGSTATEMENTOFCHANGESINASSETSANDLIABILITIESAGENCYFUNDSFortheYearEndedDecember312002BalancesBalancesJanuary1AdditionsDeductionsDecember31AllFundsASSETSCashandinvestments8660117008420228454401Receivablespropertytaxes132357125436132357125436Duefromotherfunds155099155099TOTALASSETS374057295520334641334936LIABILITIESArbitragepayable1950771903774700Duetobondholders178980179837178980179837TOTALLIABILITIES374057179837369357184537SpecialServiceAreasFundASSETSCash1662317008413230654401Investments3000030000Receivables132357125436132357125436TOTALASSETS178980295520294663179837LIABILITIESDuetobondholders178980179837178980I79837ArbitrageRebateFundASSETSCash3997839978Duefromothergovernments1550991503994700TOTALASSETS1950771903774700LIABILITIESArbitragepayable1950771903774700Seeaccompanyingnotestofinancialstatements133IIIIIiIIIIIIIIIII IIIIIIIIIIIIIiIIIIIGENERALFIXEDASSETSACCOUNTGROUPGeneralfixedassetsarethosefixedassetsusedinoperationsaccountedforingovernmentalfundsGeneralfixedassetsincludeallfixedassetsoftheVillagenotaccountedforintheEnterpriseFunds VILLAGEOFGLENVIEWILLINOISSCHEDULEOFGENERALFIXEDASSETSBYSOURCEGENERALFIXEDASSETSACCOUNTGRUPDecember312002withcomparativetotalsfor2001GENERALFIXEDASSETS20022001LandBuildingsandimprovementsEquipmentFurnitureOfficeequipmentTOTALGENERALFIXEDASSETSINVESTMENTNGENERALFIXEDASSETS56438535643853102794481027944899831241011304629507229507210130408685272721453727199946GeneralrevenuesBondissuesTOTALINVESTMENTINGENERALFIXEDASSETS234152582340066737992793799279277214153727199946Seeindependentauditorsreport134IIIIIIIIIIIIIIII IIIIIIIIIIIIII8 VILLAGEOFGLENVIEWILLINOISSCHEDULEOFCHANGESINGENERALFIXEDASSETSBYFUNCTIONANDACTiVITYGENERALFIXEDASSETSACCOUNTGROUPFortheYearEndedDecember312002FunctionandBalancesBalancesActivityJanuary1AdditionsRetirementsDecember31IIIIIGENERALGOVERNMENTExecutiveAdministrativeFinanceBuildingandgroundsTotalgeneralgovernmentPUBLICSAFETYPoliceFireTotalpublicsafetyPUBLICWORKSAdministrationForestryMERFStreetdivisionTransportationTotalpublicworksECONOMICDEVELOPMENTTOTAL1308713087257116886711284025669992780171011628813361465810116624774347693028903128403492993177047125952820664818233514958891772082055394830560672936233673641218766539111091488915896131632107991536809606809604212044212043157542807673238309531276531276157058719666313163215670902128778312928620338139673127199946591588576997272147537Seeindependentauditorsreport136IIIIIIIIIIIIII IIIIIIIIIIIIIIIIIGENERALLONGTERMDEBTACCOUNTGROUPThisseparateselfbalancinggroupofaccountsincludestheamountofoutstandinglongtermindebtednessthathasnotbeenidentifiedasaspecificfundliabilityoraproprietaryortrustfundandthatisbackedbythefullfaithandcreditoftheVillageofGlenview IIIIIIIIIIIIII IIIIIIiIIIIiIIICOMPONENTUNITComponentUnitLibraryFundtoaccountfortheresourcesnecessarytoprovidetheeducationalculturalandrecreationalactivitiesoftheGlenviewPublicLibrary VILLAGEOFGLENVIEWILLINOISCOMBININGBALANCESHEETCOMPONENTUNITLIBRARYFUNDDecember312002withcomparativetotalsfor2001iIIASSETSCashInvestmentsReceivablesPropertytaxesGrantsGeneralfixedassetsTOTALASSETSLIABILITIESANDFUNDEQUITYLIABILITIESAccountspayableAccruedpayrollCompensatedabsencespayableDeferredproperlytaxesDeferredrevenuesTotalliabilitiesFUNDEQUITYInvestmentingeneraltimedassetsFundbalanceUnreservedTotalfundequityTOTALLIABILITIESANDFUNDEQUITYGeneralFixedAssetsAccountTotalsGeneralFundGroup20022001829433829433283360340000340000124200042057174205717333368952309523095524598552459854957665142714595152415981095205710135481573831738313809437929379293458376415764156437942057174205717333368949026490264902644429184442918351977155245985524598549576698454198454113392789845415524598650913968350445142714595524759810952057101354815Seeaccompanyingnotestofinancialstatements138IIIIIIIIIIIIII IIIIVILLAGEOFGLENVIEWILLINOISSTATEMENTOFREVENUESEXPENDITURESANDCHANGESINFUNDBALANCEBUDGETANDACTUALCOMPONENTUNITLIBRARYFUNDFortheYearEndedDecember312002wiflacomparativeactualfor2001IIIIIIIIIIIIREVENUESTaxesPropertytaxescurrentPropertytaxespriorReplacementtaxesIntergovernmentalEducateandautomategrantPercapitagrantMakewholepaymentChargesforservicesFinesandforfeitsInvestmentincomeMiscellaneousDonationsOtherTotalrevenuesEXPENDITURESCultureandrecreationEXCESSDEFICIENCYOFREVENUESOVEREXPENDITURESOTHERFINANCiNGSOURCESUSESOperatingtransfersoutprimarygovernmentGmeralFundIMRFFundCapitalProjectsFundTotalotherfinancingsourcesusesEXCESSDEFICIENCYOFREVENUESANDOTHERFINANCINGSOURCESOVEREXPENDITURESANDOTHERFINANCINGUSESFUNDBALANCEJANUARY1FUNDBALANCEDECEMBER3120022001BudgetActualActual343370033494123156679502888861129000290002900024434750052309474567000060334286919684390582943406538767241638029240040035103467376684805210016941937383493037785633664478395250539000903738683117575121527742051265012650126001005621005601446001400001200001200002532122332102772003701787354737351405133927816906839845411339278Seeaccompanyingnotestofinancialstatements139 VILLAGEOFGLEIWIEWILLiNOISSCHEDULEOFOPERATiNGEXPENDITURESBUDGETANDACTUALCOMPONENTUNITLIBRARYFUNDFortheYearEndedDecember312002IIIICULTUREANDRECREATIONRegularsalariesOvertimesalariesTemporarysalariesLegalfeesPublicinformationPrintingPrintingbindingandpublicationPowerandlightsHeatingPostageTelephoneandtelegraphDuesandsubscriptionsMaintenanceofequipmentMaintenanceofcopiersMaintenanceofEDPequipmentOnlinesearchingMaintenanceofbuildingsGeneralinsuranceTravelTrainingTrusteeDirectorexpensesLibraryprogramsOfficesuppliesProcessingsuppliesCirculationsuppliesAudiovisualsuppliesBookspamphletsandmaterialsPeriodicalsAudiovisualMicroformVideotapesCatalogingContingenciesOtheroperatingexpensesMachineryandequipmentFICApaymentsInsuranceTOTALEXPENDITURESSeeindependentauditorsreport140BudgetActual1388505137711892685805254765951800074082455018942109254275750071336305018500772221200178623305530063479537706191260589653825237838500372058205376793902977684334155396962215011203210841538325005445500933305503381317050123371800010689122957615100001084544556045344052591461306430050638380783816429950261684410033264800560085505875120801751516891916985926823526824039525053900090IIIiIIIIIIIIII IIIiVILLAGEOFGLENVIEWILLINOISSCHEDULEOFGENERALFIXEDASSETSBYSOURCEGENERALFIXEDASSETSACCOUNTGRUPCOMPONENTUNITLIBRARYFUNDDecember312002withcomparativetotalsfor2001IIIIIIIIIIIIIIIGENERALFIXEDASSETSLandBuildingsandimprovementsFurnitureandequipmentTOTALGENERALFIXEDASSETSINVESTMENT1NGENERALFIXEDASSETSGeneralrevenuesTOTALINVESTMENTINGENERALFIXEDASSETSSeeindependentauditorsreport1412002200150000050000041254884125488899110870278552459854957665524598549576655245985495766 IIIiIIIIiIIIIiIThispageisintentionallyleftblank 0oiIiIIIilIIIIIIIi ooo0 VILLAGEOFGLENVIEWILLINOISLONGTERMDEBTREQUIREMENTSCORPORATEPURPOSEBONDSSERIESOF1992December312002DateofIssueDateofMaturityAuthorizedIssueActualIssueInterestRatesInterestDatesPrincipalMaturityDatePayableatTaxFiscalLevyBondYearYearNumbers20032002196224200420032252542005200425528620062005287320200720063213662008200736395200920083964372010200943848I2011201048252820122011529579Apfill1992December1201228950005000Bonds200261020036202004630200564020066502007200865520092012660JuneIandDecember1December1AmericanNationalBankandTrustCompanyofChicagoFUTUREPRINCIPALANDINTERESTREQUIREMENTSTaxLevyInterestDueonPrincipalInterestTotalsJune1AmountDecember1Amount145000I2501427001420036250720036250715000011602426602420045801220045801216000010657426657420055328720055328717000096334266334200648167200648167180000852842652842007426422007426421950007349026849020083674520083674521000060720270720200930360200930360220000468602668602010234302010234302350003234026734020111617020111617025500016830271830201284152012841519200007594702679470379735379735NOTETheabovebondissueistoberetiredannuallybyWholesaleWaterFundSeeindependentauditorsreport144 IIIVILLAGEOFGLENViEWILLINOISLONGTERMDEBTREQUIREMENTSCORPORATEPURPOSEBONDSSERIESOF1996December312002DateofIssueNovember11996DateofMaturityDecember12008AuthorizedIssue8435000ActualIssue5000InterestRatesBonds136276462527712784700127914774800147816874875InterestDatesJune1andDecember1PrncipaMaturityDateDecember1PayableatAmericanNationalBankandTrustCompanyofChicagoFUTUREPRINCIPALANDINTERESTREQUIREMENTSTaxLevyInterestDueonFiscalBondYearNumbersPrincipalInterestTotalsJune1AmountDecember1Amount200357974081000026344810734482003131724200313172420047419108500002253781075378200411268920041126892005911108989500018542810804282005927142005927142006109012789450001433621088362200671681200671681200712791477995000989481093948200749474200749474200814781687105000051188110118820082559420082559455450009677526512752483876483876NOTEDebtserviceispayablefromtheDebtSer4ceFundusingmoniestransferredfromtheGNASRedevelopmentFundSeeindependentauditorsreport145 VILLAGEOFGLENVIEWILLIqOISLONGTERMDEBTREQUIREMENTSCORPORATEPURPOSEBONDSSERIESOF1997December312002IIIDateofIssueAugast151997DateofMaturityDecember12017AuthorizedIssue6175000ActualIssue5000InterestRatesBonds0017174875718792490079212355000InterestDatesJune1andDecember1PrincipalMaturityDateDecember1PayableatAmericanNationalBankandTrustCompanyofChicagoFUTUREPRINCIPALAND1NTERESTREQUIREMENTSTaxLevyInterestDueonFiscalBondYearNumbersPrincipalInterestTotalsJune1AmountDecember1Amount2003191238240000257582497582200312879120031287912004239288250000245882495882200412294120041229412005289340260000233694493694200511684720051168472006341395275000221018496018200611050920061105092007396453290000207612497612200710380620071038062008454514305000193476498476200896738200896738200951557832000017860649860620098930320098930320105796463400001630065030062010815032010815032011647717355000146432501432201173216201173216201271879237500012912650412620126456320126456320137938713950001107505057502013553752013553752014872955420000910005110002014455002014455002015956104344000070000510000201535000201535000201610441136465000480005130002016240002016240002017113712354950002475051975020171237520171237552250002320934754593411604671160467NOTEDebtserviceispayablefromtheNorthMaineWaterandSewerFundSeeindependentauditorsreporL146IIIIIII1IIIIII IiIIIIIIIIIIIIIVILLAGEOFGLENVIEWILLINOISLONGTERMDEBTREQUIREMENTSCORPORATEPURPOSENOTESOF1997December312002DateofIssueDateofMaturityAuthorizedIssueActualIssueInterestRatesInterestDatesPrincipalMaturityDatePayableatSeptember21997September12019285000014250004942September1September1NorthSuburbanPublicUtilityOverlandParkKansasFUTUREPRINCIPALANDINTERESTREQUIREMENTSFiscalRequirementsYearPrincipalInterestTotals2003948521205252004995391158382005104459110918200610962I10575620071150391003382008120725946522009126691886862010132952824252011139523758542012146419689582013153655617222014161249541282015169219461582016177582377952017186359290182018195569198082019205234I0143215377215377215377215377215377215377215377215377215377215377215377215377215377215377215377215377215377243868712227223661409NOTEDebtserviceispayablefromtheNorthMaineWaterandSewerFundSeeindependentauditorsreport147 VILLAGEOFGLENVIEWILLINOISLONGTERMDEBTREQUIREMENTSCORPORATEPURPOSEBONDSSERIESOF1998ADecember312002IiDateofIssueDateofMaturityAuthorizedIssueActualIssaeInterestRatesInterestDatesPrincipalMaturityDatePayableatNovember11998December12018100000005000Bonds1139410140389415390661420662957425958127843012792000435June1andDecember1December1AmericanNationalBankandTrustCompanyofChicagoFUTUREPRINCIPALANDINTERESTREQUIREMENTSFiscalYearPrincipalTaxLevyInterestInterestDueonTotalsJune1gamountDecember1Amount200320042005200620072008200920102011201220132014201520162017201869500012500001360000148000016050001735000187500042644042644020032132202003213220426440426440200421322020042132204264404264402005213220200521322042644042644020062132202006213220426440426440200721322020072132204264404264402008213220200821322042644042644020092132202009213220426440426440201021322020102132204264404264402011213220201121322042644011214402012213220201221322039794516479452013198973201319897334607017060702014173035201417303528895017689502015144475201514447522605018310502016113025201611302515703518920352017785182017785188156319565632018407812018407821000000057620131576201328810072881008NOTEDebtserviceispayablefromtheDebtServiceFundusingmonieslraosferredfromtheGNASRedevelopmentFundSeeindependentauditorsreport148III1IIIIIII1i IiIiVILLAGEOFGLENWIEWILLINOISLONGTERMDEBTREQUIREMENTSCORPORATEPURPOSEBONDSSERIESOF1998BDecember312002IIIIIIDateofIssueDateofMaturityAuthorizedIssueActualIssueInterestRatesInterestDatesPrincipalMaturityDatePayableatJanuary11999December12018244000005000Bonds11544250151522154375221625894400259048804500June1andDecember1December1AmericanNationalBankandTrustCompanyofChicagoFUTUREPRINCIPALANDINTERESTREQUIREMENTSFiscalYearTaxLevyInterestDueonPrincipalInterestTotalsJune1AmountDecember1Amount200314500002004151000020051575000200616400002007171500020081790000200918700002010195500020112050000201214500002013100000020141O00O0020151O00O0020161O00O002017100000020181000000NOTE1013536246353620035067682003506768951911246191120044759552004475955887736246273620054438682005443868820799246079920064103992006410399751099246609920073755502007375550676068246606820083380342008338034597755246775520092988782009298878515475247047520102577372010257737427500247750020112137502011213750335250178525020121676252012167625270000127000020131350002013135000225000122500020141125002014112500180000118000020159000020159000013500011350002016675002016675009000010900002017450002017450004500010450002018225002018225002300500079221293092712939610643961064DebtserviceispayablefromtheDebtServiceFundusingmoniestransferredfromtheGNASRedevelopmentFundSeeindependentauditorsreport149 VILLAGEOFGLENVIEWILLINOISLONGTERMDEBTREQUIREMENTSCOKPORATEPURPOSEBONDSSERIESOF2000December312002IIIIDateofIssueDateofMaturityAuthorizedIssueActualIssueInterestRatesInterestDatesPrincipalMaturityDatePayableatDecember152000Dcember1200849700005000Bonds16943070795440796994450June1andDecemberIDecember1AmericanNationalBankandTrustCompanyofChicagoFUTUREPRINCIPALANDINTERESTREQUIREMENTSFiscalBondYearNumbersTaxLevyPrincipalInterestInterestDueonTotalsJune1AmountDecember1Amount200320042005169200670419200742079520087969942193352193352003I09668200310966821933521933520041096682004109668345000219335564335200510966820051096681750000204500195450020061022502006102250187500012750020025002007637502007637501000000450001045000200822500200822500497000010350056005005517504517504NOTEItisanticipatedthattheleviesassociatedwiththisissuewillbeabatedthrough2004transfersfromtheGeneralFundThebondproceedswillbeusedforinfrastructureimprovementsthroughouttheVillageSeeindependentauditorsreport150IIIIIIIIIIIII IIVILLAGEOFGLENVIEWILLINOISLONGTERMDEBTREQUIREMENTSCORPORATEPURPOSEBONDSSERIESOF2001December312002IiIIiIIiIIIIIIIDateofIssueAugust12001DateofMaturityDecember12012AuthorizedIssue41800000ActualIssue5000InterestRatesBonds1200350201I160375116151604005161616041256161726042572618360435InterestDatesJune1andDecember1PrincipalMaturityDateDecember1PayableatAmericanNationalBankandTrustCompanyofChicagoFUTUREPRINCIPALANDINTERESTREQUIREMENTSTaxLevyInterestDueonFiscalBondYearNumbersPrincipalInterestTotalsJune1AmountDecember1Amount2003110050000016942502194250200384712520038471252004101200500000167675021767502004838375200483837520052011160480000016592506459250200582962520058296252006116121605000000179250647925020067396252006739625200721613160500000012792506279250200763962520076396252008316141605000000107925060792502008539625200853962520094161516050000008792505879250200943962520094396252010516161605000000679250567925020103396252010339625201l6161726055000004730005973000201123650020112365002012726183605500000239250573925020121196252012I1962541800000111387505293875055693755569375NOTEDebtserviceispayablefromtheDebtServiceFundusingmoniestxansferredfromtheGNASRedevelopmentFundSeeindependentauditorsreport151 VILLAGEOFGLENVIEWILLINOISLONGTERMDEBTREQUIREMENTSGENEKALOBLIGATIONREFUNDINGBONDSSERIESOF2002December312002DateofIssueDateofMaturityAuthorizedIssueActualIssueInterestRatesInterestDatesPrincipalMaturityDatePayableatFebruary152002December1200568850006885000Bonds2002200o200320020042252005275June1andDecemberlDecember1AmericanNationalBankandTrustCompanyofChicagoFUTUREPRINCIPALANDINTERESTREQUIREMENTSTaxLevyInterestDueonFiscalYearPrincipalInterestTotalsJune1AmountDecember1Amount200317550001427361897736200371368200371368200418050009886019038602004494302004494302005131500044710135971020052235520052235548750002863065161306143153143153NOTEDebtserviceispayablefromtheDebtServiceFundusingmoniesreceivedfromapropertytaxrevenuesaswellaswaterandsewerrevenuesSeeindependentauditorsreport152IItIIIlBIIIIIIiII ZiiIIIIIIIIIIIIIIIi Thispageisintentionallyleftblank ZIIiiIIIIIIIIIIIIII III IiiIIIIiIIIIIIIII Thispageisintentionallyleftblank IIIIIIIIIiIIIIItII q iIIIIIIIIIIIiIIII VILLAGEOFGLENVIEWILLiNOISSCHEDULEOFLEGALDEBTMARGINDecember312002ArticleVIISection6kofthe1970IllinoisConstitutiongovernscomputationofthelegaldeblTheGeneralAssemblymaylimitbylawthemountandrequirereferendumapprovalofdebttobeincurredbyhomemlemunicipalitiespayablefromadvalorempropertytaxreceiptsonlyinexcessofthefollowingpercentagesoftheassessedvalueofitstaxableproperty2ifitspopulationismorethan25000andlessthan500000anaggregateofonepercentindebtednesswhichisoutstandingontheeffectivedateJuly11971ofthisconstitutionorwhichisthereafterapprovedbyreferendumshallnotbeincludedintheforegoingpercentageamountsTodatetheGeneralAssemblyhassetnolimitsforhomerolemunicipalities161 gIiIIIIIIIIIIIiIIII VILLAGEOFGLENVIEWILLINOISDEMOGRAPHICSTATISTICSLastTenFiscalYearsIIIEducationLevelin3Per1Yearsof2UnemployFiscal1CapitaMedianFormalSchoolmentYearPopulationIncomeAgeSchoolingEnrollmentPercentage19933843731469375165593750199438437321613751656023371995384373314437516584613119963843734037375165859030199738437348863751658676261998384373557837516593152519993843736315375165924123200041847375663751659241252001418473756637516592413720024184737566375165924144EstimatedDataSources1USDepartmentofCommerceBureauoftheCensus2Includeselementaryandhighschoolstudents3IllinoisDepartmentofLaborIllinoisDepartmentofEmploymentSecuritynotseasonablyadjusted164IIIIIIIIIIIIIIII o VILLAGEOFGLENVIEWILLINOISMISCELLANEOUSSTATISTICSDecember312002DateofincorporationFormofgovernmentGeographiclocationAreaPopulation195019601970198019902000NumberofTotalHousingUnits2000CensusMedianValueOwnerOccupiedNoncondominiumHousingUnitsDistributionofOwnerOccupiedNoncondominiumHousesbyValue2000CensusUnitValuesbyRange1Under1000001000001999992000002999993000004999995000009999991millionormoreFireProtectionNumberoffirefightersNumberofstationsNumberoffirehydrantsISORatingPoliceProtectionNumberofpoliceofficersNumberofschoolcrossingguardsNumberofstationsLibraryServicesNumberoflibrariesNumberofbooksNumberofrecordsNumberofaudiocassettesNumberofslidessetsNumberofvideotapesNumberofcornpactdiscsNumberofregisteredborrowers2001bookcirculationAdultmaterialsChildrensmaterialsThisscheduleiscontinuedontllefollowingpage166June201899CouncilManager20MilesNorthofChicago1327SquareMiles6142181322488032060384374184715810336000UnitDistributionNumberPercent1591431278115232272910420337901987179223621311090100008532300Class37420112660904697652279115361090421968334179429506763685IIIIIiIIIIIIIIIIIII IIIVILLAGEOFGLENVIEWILLINOISMISCELLANEOUSSTATISTICSContinuedDecember312002IIIIIIIIIIIIIIIRecreationFacilitiesNumberofparksandplaygroundsParkareainacresParkDistrictownedParkareainacresParkDistrictleasedMunicipalParkingFacilitiesNumberofparkingspacesWaterworksOperationsNumberofsewercustomersatDecember3I2002NumberofmeteredwatercustomersatDecember312002GallonsofwaterpumhasedduringfiscalyearGallonsofwaterbilledduringfiscalyearWaterstoragecapacityGroundstorageElevatedstorageNumberoffulltimeemployeesatDecember312001MilesofstreetsmaintainedbyGlenviewidentifiedbyfunctionalclassificationArterialCollectorResidentialCuldesacsTotalMilesofalleysmaintainedbyGlenviewMilesofstreetsadthintheVillageofGlenviewmaintainedbyCookCountyortheStateoflllinoisMilesofsanitarysewersMilesofstormsewersNumberofVillageownedstreetlightsBuildingactivityNumberofperiitsissuedin2001Valueofconstructionauthorizedin2001DataSourceVillageRecords167364471351168951815015320068500027886000008500000gallons1000000gallons32275I0612130222280674465 IIIIIiIIIIIIIIIII IIIIIIFiscalSalesYearTaxVILLAGEOFGLENVIEWILLINOISMAJORCORPORATEFIZNDREVENUESOURCESNONREALESTATETAXDecember312002PercentPercentIllinoisPercentofTotalUtilityofTotalIncomeofTotalRevenueTaxRevenueTaxRevenue1993418811629428761492021966124138199444389322442512867138199548430712532935696153199646619852363099365157199747948302113184812140199850923572093340555137199957586172303262725130200065229222373712583145200171840062354147388136200287650382874119522135NoteIncludesGeneralFundonly1692157707119226627911826567441342483946109266600310927402811102990432109296348697274503590 VILLAGEOFGLENVIEWCookCountyIllinoisANNUALFINANCIALINFORMATIONSTATEMENTOFINDEBTEDNESSAssessedValuationofTaxableRealProperty2001EstimatedTrueValueofTaxableRealProperty2001DirectGeneralObligationBondedDebtPayablefromPropertyTaxesSelfSupportingDebtTotalDirectBondedDebtOverlappingBondedDeblPayablefromPropertyTaxes2SchoolsOtherThanSchoolsTotalOverlappingBondedDebtTotalDirectandOverlappingBondedDebtTotalDirectandOverlappingExcludingSelfSupportingAmountApplicableasofDec31200215512935764653580728AsPerCentofPerCapitaAssessedEstimated2001CensusValueTrueValuePop41847100003333370706030000100001112118106202122902566188209707628209232609234078869374291431588626632212457991291430478408725242268701958400087756000973400003638026366479063102859326200199326f12443326Notes1TheVillageisahomeruleunitunderthe1970IllinoisConstitutionandassuchhasnodebtlimitnorisitrequiredtoseekreferendumapprovalfortheissuanceofgeneralobligationdebtSeeReUrementScheduleofOutstandingViiageGeneralObligationDebtforalistingoftheVillagesnongeneralobligationdebtandcurrentlyoutstandinggeneralobligationdebtOftheVillagesgeneralobligationdebt901or87756000isconsideredserfsupportingZSeeDetailedOverlappingBondedIndebtednessPayableFromPropertyTaxesatDecember312002RETIREMENTSCHEDULEOFOUTSTANDINGVLLAGEGENERALOBLIGATIONDEBTNoW1AsofDecember312002PrincipalAmountsDebtServiceSelfSupporBnRWithProiectedAbatementFromTaxLeviesWaterandSewerFunds2tlaxIncrementRevs7TotalFromDuePaidFromSeriesSeresSeriesSeriesLevyProperty1211992412002619961998YearTaxes2003162630014500020022024612200420052006200720082009201020112012201320142015201620172018SeriesSeriesCumul199752001AmountPercent240000128700810000145000050000049000005016727001500002500001323008500001510000500000506500010216600001600002600000895000157500048000009350000t98175000017000027500094500016400005000000978000029918750001800002900009950001715000500000010055000402100000019500030500010500001790000500000093400004980210000320000018700005000000740000057422000034000019550005000000751500065123500035500020500005500000814000073525500037500021450005500000827500082003950002250000026450008474200002360000278000087644000024800002920000906465000260500030700009374950002735000323000097002875000287500010009584000192000052250002610005545000330050004180000097340000200320310312004197255120051954500200620025002007104500056Thistableexcludes2438674notepayableinannualprincipalandinterestpaymentsof215377tothesellersoftheutilitycompanythatwasacquiredinSeptember1997TheremainingprincipalamountofspecialserviceareabondstheproceedsofwhichhavebeenusedforvariousneighborhoodlocalimprovementsandwhicharesecuredbypropertytaxestobeleviedintheapplicablespecialsaPiceareasisshownasoverlappingdebtinthetableDetailedOverlappingBondedIndebtednessPayableFromPropertyTaxesAsahomeruleunitunderthe1970IllinoisConstitutiontheVillagehasnodebtlimitanditcanissuegeneralobligationbondswithoutreferendumTheVillagehaschosentofundvariouswatersewerimprovementswithgeneralobligationbondsandabatetaxesfromuserchargesTheVillageswatersystemservesapopulabnofapproximately125000ofwhichapproximafoly83000areoutsidetheVillagelimits63000inunincorporatedareasand20000intheCitizensUtilitiesserviceareaIncludesremainingmaturitiesoftheVillagesSedes2000BondsandaportionoftheSeries2002BondsTheSedes1992BondsarepayablepdmarlyfromrevenuesoftheserviceareaoraprivatewatercompanyCitizensUtilitiesoutsdetheVillagelimitsTheSeries1997BondsarebeingpaidfromwaterandsewerrevenuesofaserviceareaoutsidetheVillagelimitswithapopulationofapproximately40000AporlionoftheSeries2002issueispayablefromproperlytaxesandtheremainderisselfsupportingfomwatersewerrevenuesTheSeries1996Series1998andtheSeries2001BondsareexpectedtobepaidfromincrementalpropertytaxesattheGlenviewNavalAirStationEconomicDevelopmentProjectAreaplus80ofthelandsaleproceedsderivedfromtheViiagessaleoflandaltheProjectArea170 SaleDateMay181993August301994Janua251995October171995October151996August51997October201998December52000August72001February52002DEBTRATIOSANDPERCAPITADEBTLASTTENBONDSALESNoteRatiotoEstimatedActualValuefDirectDebtDirectOverlappinqebtIncludingExcludingIncludingExcludingSelfSelfSelfSelfAmountSupportinqSupportinq2SupportinRSupportinq2I76350007733128580250003603002666000000045729826850000057317285843500015453182626175000423152443440000063739822349700003332819341800000334902436885000730492247VillaqeIssue123948789101113212168247275Notes1RatiosandpercapitainformationassetoutinapplicableOfficialStatementsTheVillageswhichsoldonJanuary251995arenotincludedintheseratiosseeNote42ExcludingtheVitiagesselfsuppodinggeneralobligationbondeddebt3Finalissueamountwas5040000ThisissueadvancerefundedthecallablematuritiesoftheSeries1989and19904GeneralObligationBondAnticipationBondsSeries1995BABStheproceedsofwhichwereusedtofundinterestuptotherespectivemalurtiydatesoftheBABSandtocreateacapitalimprovementfundforredevelopmentcostsofheGlenviewNavalAirStationwhichofficiallyclosedonSeptemberB1095TheprincipalamountoftheBondAnticipationBendswasnotincludedinthedebtratiosandpercapitadatawhenthosematuritieswererefinancedwithSeries1996andtheSeries998Bondstheyappearedinthedebtratiosandpercapitadebt5ProceedsusedtorefundtheDecember1998maturityoftheBABS6ApotionoftheproceedsoftheSeries998BondswasusedtorefundfoeDecemberff998maturtiyoftheBABS7ProceedswereusedtoredeemtheoutelandingSeries1993and1994bondsPerCapitalDirectOvedappinqDebtIncludingExcludingSelfSelfSupportingSuoortino2196219169055222973197880221967199553236061212334259075213453254413196957312564175200310934183183437757217283435397218571BondAnticipationBondsDETAILEDOVERLAPPINGBONDEDINDEBTEDNESSPAYABLEFROMPROPERTYTAXESATDECEMBER312002SCHOOLDISTRICTSElementaryDistrictsGlenviewSchoolDistrictNo34NorthbrookSchoolDistdctNO30WeslNorthfleldSchoolDistrictNo31Wilme6eSchoolDistrictNo39EastMaineSchoolDistrictNo63GolfSchoolDisdcNo67AvocaSchoolDistrictNo37HighSchoolDistrictsNodhfieldTownshipHighSchoolDistrictNo225NewTrierTownshipHighSchoolDistrictNo203NilesTownshipHighSchoolDistrictNo219MaineTownshipHighSchoolDistrictNo207CommunityCollegeDistrictOakonCommunyCollegeNo535PercentofVillages2001RealPropertyinTaxinqBody6g98322317100089949282410001000VillagesApplicableShareNotefofGrossDebtToBePaidGrossFromRealPropertyTaxesBondedDebtPercentAmount203750008606917536559879306737423329062996400002722326242971206500046065557142115000041448764565223512149957832662615000731119118323757687336568868771120055000322974606638871323713521199403176500000988174382097740TotalSchoolDistricts36380263OTHERTHANSCHOOLDISTRICTSCookCountyincludingForestPreserveDistrict100026599919742159342373672MetropolitanWaterReclamationDistrict100013655450002162722217417GlenviewParkDistrict99212250003830751017669NorhbrookParkDistdct419055000032561929NorhMaineFireProtectionDistrict420000022434486GlenviewSpecialServiceAreasVarious803890100000803890TotalOtherThanSchoolDistricts66479063NotesfViiagessharebasedupon2001RealPropertyvaluations2Excludesshorttermcashflownotes3ExcludesthefollowingAlternateBondsissuedpursuanttoPublicAct85t419whichareconsideredtobeselfsupportingsincetheyarepayablefromuserfeesorotherpledgednonpropertytaxsourcesNorthfieldTownshipHighSchoolDistrictNo22521950000NewTrierHighSchoolDistrictNo2034760000andGlenviewParkOielrict33710000171IIIIIIIIIIIIIIIIIII EQUALIZEDASSESSEDVALUATIONFORTAXINGPURPOSESNoteForGeneralTaxinaPumosesNoteITaxGrossLessNetForIncreaseNetForPlusLevyRealExemptionsGeneralTaxingOverGeneralTaxingIncrementalYearProperty2Purooses51PriorYearPurposes5Valuation71997111012669262350866104777782625104777782601998312246867716431573911603710411071169371041019991309030170650384971243991673721243991673221685620001293037637653814371227656200135122765620055379642001315875544087591170915116426994231151164269939650677ForAllTaxinqPurposesTotalForAllTaxingPurooses610477776261160371041124620852912331941641551293576Notes1PropertyinCookCountyisseparatedintoeightclassificationsforassessmentpurposesrangingin1985from16forresldetialto40forcommercialpropertyAftertheassessorestablishesthefairmarketvalueofaparceloflandthatvalueismultipliedbyoneoftheclassificationpercentagestoarriveattheassessedvaluationforthatparcelTheIllinoisDepartmentofRevenuefurnisheseachcountywithanadjustmentfactortheequalizationfactortoequalizethelevelofassessmentbetweencountiesAfterlheequalizationfactorisappliedthevaluationofthepropertyfortaxingpurposeshasbeenestablishedtaxratesareappliedtotheequalizedvaluation2Includesfourcategoriesofexemptionsin2001theSeniorCitizensHomesteadExemption8806750theGeneralHomesteadExemption54052353theSeniorCitizensTaxFreezeHomesteadExemption12186924andtheLongTermHomeownerExemption865682TheSeniorCitizensHomesfaadExempffeneffecfivefortaxyears1991andfollowingisareductionof25001500inlevyyears19721983and200inlevyyears19841990intheequalizedassessedvaluationofrealpropertyownedandoccupiedbyaperson65yearsofageorolderTheGeneralHomesteadExemptionisavailabletoowneroccupfadresidentialpropertytheamountofheexemptionistheincreaseinthecurrentyearsequalizedassessedvaluationabovethe1977taxyearequalizedassessedvaluaaonwithamaximumof1500in19783000between1979and19823500between19831990and4500thereafterTheSeniorCitizenTaxFreezeHomesteadExemptionfirsteffectiveinlevyyear1994providesthatpersons65orolderwithahouseholdincomeoflessthan40000upfrom35000infavyyear1998andpormayreceiveanexemptionintheamountofthedifferencebetweenthecurrentequalizedassessedvalueoftheirprincipalresidenceandthelowestpreviousassessmentinaqualifyingyeareventheseniorwasnoteligibleforsomeinterveningyeacTheLongTermHomeownerExemptionisaCookCountyprogramwhichprovidespropertytaxrelieftolongtermhomeownerswhomeetcertainincomerequirementsandwhohavebeenadverselyaffectedbyrapidincreasesinpropertyvalues3UnderthecurrenttriennialreassessmentsysteminCookCountyonethirdoftheCountyisreassessedeachyearTheViSagewasreassessedin1998and2001fortaxestobecollectedin20024Byvaluation832oftheVillageisinNorthfieldTownship61isinNilesTownship60isinMaineTownshipand46isinNewTrierTownshipfacludes134910ofRailroadPropertynowclassifiedasReaProperty5The2decreasein1997andthe13decreasein2000wepdmadfyduetodecreasesof13and12respectivelyintheStateimposedequalizabonfactorforCookCounty6TheVillagestaxrateiscalculatedbasedontheVillagesNetEqualizedAssessedValuationshowninthistableasNetForGeneralTaxingPurposesandisextendedagainstitsentireEqualizedAssessedValuationshowninthistableasTotalforAflTaxingPurposesexcludingonlythestatotoexemptionsOfthetaxescollectedthatportionapplicabletoincrementalvaluationvaluationoftaxincrementdistrictsisremittedtotheVillagebytheCountyCollectorfordepositintheapplicabletaxallocationfundTheEqualizedAssessedValuationforwhichtheVillagereceivesitsportionofthetotaltaxrateforaltnonTIFpurposesisshowninthefabfaasNetforGeneralTaxingPurposes7WhentheGlenviewNavalAirStationTaxIncrementDistdctwascreatedffincludedtheAirStationandanolderindustrialareaadjacenttherelosofJanuary11999theincrementalvaluationwasaddedfromchangesinthatindustrialareaLandValuationsinthatindustrialareahaveincreasedforavarietyofreasonsincludingthefactthepropertybeingadjacenttoamajornewroadwayentranceintotheredeveiopedbaseandanearbynewMefratrainstationTAXRATESPER100EQUALIZEDASSESSEDVALUATIONLevyYearsVillageofGienviewBondsandInterestPensionsPoliceFireIMRFSocialSecurityCorporateTotalVillagelCookCountyInclForestPreserveMetropolitanWaterReclamationDistrictGlenvtawSDNumber34NorthfieldTownshipHSDNumber225OaktonCommuniyCollegeDistNumber535GlenviewParkDistrictGlenviewPublicLibrary2NorthfieldTownshipandAllOtherTotal3VillageasaPercentofTotal199719981999200020011661561451521174574094304263227356606526715459939839558938134514444194154013188299128393030262319321840187019921740304269251269228843580577835817671468782838276Notes1Asahomeruleunitunderthe1970IllinoisConstitutiontheVillagehasnosfatutoqfaxratelimitationsBeginninginlevyyear1985thetaxrateforLibrarypurposesisconsideredunderStatelawtobeaseparatelevyfromtheVillageTaxrateapplicabfatothelargesttaxcodewhichrepresented448oftheVillages2001taxbaseandislocatedinNorthffeldTownship172 RankTAXEXTENSIONSANDCOLLECTIONSVillagePurposesOnlyLevyCollectionTotalTaxesYearYearEMended199719987791167199819997658448199920008110825200020018237573200120028238452TotalTaxesCollectedasofDecember3120021Amount21Percent7634206991377024891005780806649963829633010071544129110246Notes1SourceCookCountyTreasuresOfficeTaxescollectedincludinglatepaymentsareshownascollectionsintheyearwhendueregardlessofwhenthecollectionoccursTheAmountCollectedisnotthesameasdistributionstotheVillageascollectionsincludetaxespaidunderprotestWhenthetaxesarepaidunderprotestareremiiledtheyarenotincludedastaxescollectedastheyhavealreadybeenconsideredcollected2CookCountypropartytaxesarepayableintwoinstallmentsthefirstonMarch1andthesecondonthelalterofAugustIor30daysafterthemailingofthetaxbillsThefirstinstallmentisanestimatedbillandisonehalfofthepdoryeabillThesecondthstaitmentisbasedonthecurrentlevyassessmentandequalizationandreflectsanychangesfromtheprioryearinthosefactorsThesecondinstallmentdateforlevyyears19962000wereSeptember191997October261998November11999October2200andNovember12001respectively1996AND2001TAXBASEDISTRIBUTIONBYPROPERTYCLASSIFICATIONNoteVillaqeofGlenviewTaxableValuation2PercentofTotalPropertyClassification1996200119962001Residential7350065871116802930701720CommercialI216553501300036371206193Industrial974784541342971909357Railroad155106134910NILNILFarm11507522175NILNILTotal1050308723155129357610001000PementIncrease19962001477Notes1Thecommercialclassficebonincludesapartmentbuildingswithoversixunitsandanyaparlmeniretailmixedusebuildings2IncludesincmentalvaluationintheVillagestaxincrementfinancingdistfictTENLARGESTTAXPAYERSTaxpayerKraftGeneralFoodsGrubbEllisServicesSignodeivOFITWMidAmericanAssetWyndhamInternationalPearsonTaxDepartmentEqualizedAssessedValuationIlPropeAiesCorporateHeadquartersResearchCampus45491405AONinsuranceCompany21819886CorporateHeadquarters16206175CommercialPropery16070567DoubletreeHotel11603435CorporateHeadquadersBookPublishing311490324ParksideSeniorServicesTheSeasonsatGlenviewPlace8601411TargetRetailStore7726526Sanders2100LPCommercialProperty6808699HeatheneldCanLLCCommercialProperty6660345TotalTenLargestTaxpayers1524790731ValuationsasofJanuaryI2001for2002taxingpurposes2Total2001Villagevaluationof1551293534tncludingincrementalvaluation3CorporateheadquartersofScottForesman173PercentofVillaqe229101007070605040498IIIIIIIIIiIIIIIIIII GENERALFUNDSummaryStatementofRevenuesExpendituresandChangesinFundBalanceFiscalYearsEndingDecember31AuditedNoteRevenuesTransfers319981999ProperlyTaxes5421134508815720005628468PropertyTaxesFireProtectionDistrictIl201487721239921968076SalesTaxes509235757586176522922UtilityTaxandTelecommunicationsTax334055532627253712583StateIncomeTaxPhotoUseTax311195432493963551020FranchiseTaxes322468379362195281MotorVehicleLicenses35535100HotelRoomTax4856775803135872019BuildingPermitsCertOfOccup10694499967451456765OtherLicensesandPermits250798236925280634ChargesForServices13103117419911280928FinesandForfeits232855281525224431Interest526760478582665382TransfersInWatevorks452814457808500750WhctesaleWater108700102200102000TheGlenRedevCaretaker3385040004000NorthMaineU6116es285174381981292674EscrowDepositInterest5127215194993190994Other1888981071391327086LandSales0531593295460AIlOtherRevenues7950121075376887172TotalRevenuesTransfers255254912625624420958645ExpendituresTransfersGeneraIGovemment48248654854514PublicSafety1191883112357263HighwaysandStreets40948064774392Pensions613170515397SubtotalExpenditures2145167222501566CapitalEquipmentReplacementTransfers69650131024903CapitalProjectTransfersCapitalOutlay9196001199285DebtServiceTransfer00TotalExpendituresTransfers2333628524725754RevenueOverUnderExpendituresBeforeCapitalTransfers40738193754678AfterCapitalTransfers21892061530490AdjustmentstoFundBalanceB0FundBalanceatDecember311197166213502152200220032001Budget2ActualBudqet25808880600946058772325953320196806220750002171117226000071840066790000876503883000004147388393000041195224125000348397038300003183744330500041476824500028511028750074818880000061508360000024678981951700206314918522003423622950003523342848001152553216057511090481189841215284225000207720200000769833475000401213360000493710508600598600529400105000112150112150106000400040004000400030750030500307500307500172351150000120000100000118100248825248830102594595665440000004040009342801151150133240811392593179452731668960317837983232976551321695450092678604860606187652765132950311538972516247337158505041834313651004555866080635605161189257166428240982292670589729389436289300473316232910013021061930122522312252201275119617206924374168490183490661260335021080521933521933603127160030416048316839122982366935697783586041648778252060189353441583256413129551378479149521960129336801803710340121891971393871315898842AssetsCashandInvestments8ReceivablesPropertyTaxes7SalesTaxUBlilyTaxesOtherReceivablesDueFromOtherFundsBalanceSheetatDecember3119981992000200120028450797103560351220672914756756150320035129686560417556721535785884573137983511452759611466311968913262803130537431657342531534399571291155024856079056610316128363500629412253223415521106137073185501AllOtherAssets564114482TotalAssets1821808520603066LiabilitiesandFundBalanceAccountsPayableCompensatedAbsencesPayableDueToOtherFundsDeferredRevenuesAllOtherLiabilitiesFundBalanceReservedgDesignatedforSurchargeReceiptslO03238502053803723186289249246311986371561926098885479773498368700639261209518921531691167182303092023200413731440022512968658868115822728602920958610435603710087173241810013851103265156411986710000100001000013348481334848133484813348481334848Undesignated1062117312147437108443491259386514553994TotalFundSalance121197166213502152121891971393871315898842TotalLabiJitiesFundBalance218085206030662053803723I6RJ24924R3Notes1ThesecondensedfinancialstalementsfortheGeneraFundfortheyearsendingDecember3119982002havebeenpreparedfromthefullComprehensiveAnnualFinancialReportsoftheViageofGenviewanddonotpurpotobecomptatafinancialstatementsThefullfinancialstatementstogetherwiththereportoftheVillagesindependentaccountantsareavailableuponrequestSeeNote1toCombinedStatementAliFunds2TheVgageManagersubmitsaproposedoperatingbudgettotheBoardofTrusteeswhichbudgetincludesproposedexpendituresandthemeansoffinancingthemSubsequentobudgethearingsthebudgetislegallyenactedthroughpasssgeofanrdinanceTheVillageManager174 isauthorizedtotransferbudgetedamountsbetweendepartmentswithinanyfundhoweveranyrevisionsthatalterthetotalexpendituresofanyfundmustbeapprovedbytheBoardofTrusteesBudgetsareadoptedonabasisconsistentwithgeneraSyacceptedaccourfin9princJpies3AsahomeruleunittheViiagecoudincreaserevenuesbyincreasingitspropertytaxfevyadoptingaHomeRuleSalesTaxandoraPreparedFoodandBeverageTaxTheVillagecouldalsoreimposeamotorvehiclelicensefeewhichifsetatthepdorlevelcouldgenerateover450000inannualrevenuesfiscalyear1997wasthelastcompleteyearthefeewasineffect4EffectiveMay61985theVillageadopteda5hotelroomlaxTheVillagecurrentlyhasfiveoperatinghotelswith855roomsDevepersarerequiredtdepsitwiththeVflageanamuntequafothecstfaimprvementsbeingbu8tanddedicafedfotheVilaewhichdepositsarereturneduponsatisfacfoycompegonoftheimprovernenlsInterestearningsontheamountsintheEscrowDepositFundaretransferredtotheGeneralFund6TheCapitaEquipmentReplacementFundCERFwasestablishedbyordinancein1979withthestatedpurposeofeveningouttheannualexpendituresformajorcapitalexpendituresAfloftheVillagesonreadandoffroadequipmentfirepublicworksetcisincludedEachDepartmentischargedwiththeequivalentofadepreciatonchargewhichisremiedincashtotheCapitalEquipmentReplacementFundcanedintheCapitaProjectsFundAsofDecember312002auditedcashandinvestmentsintheCapitalEquipmentReplacementFundetaed97715157ForthefiscalyearendedDecember311982theVillagechangedfepropertytaxrevenuerecognitiontoconformtotheprovtionsofInterpretation3issuedbytheNationalCouncflonGovernmentstAccountingunderwhichpropertytaxrevenuesarerecognizedtotheextentoftaxesdueandcollectedwithinthecurrentyearThecurrentnettaxlevyreceivableisrecognizedinthebalancesheetalongwithacorrespondingamountofdeferredrevenue8TheVillagescashreservepolicyis90daysofworkingcashwhichgiventhe2002actualnoncapIaiexpenditurestotalsapproximately700751fThisreserveservesasinsuranceshouldtheVillagefacefluctuationsordelaysintaxpaymentsamonetaryjudgmenanaturaldisasterorotherfiscaldifficultiesTheauditedGeneraIFundCashBaancehasdsenfrom6629833atDecamber3f1996fe15032003atDecember312002seeCashandinvestmentsatDecember31beowwhichrepresentedacashreservebalanceof193days9TheDecember312002Reservedamountof10000isforPattonHouseaproposedseniorhousingbuilding10ThesefundsareavatableforanypurposetheDesignatedreferenceistothesourceofrevenuesthatwaredeterminedbytheVflageBoardasnottobeusedforoperatingexpenses11OnSeptember11992theGlenbrookFireProtectionDistdctwasmergedintotheGfenviewFireDepadmentTheFireProtectionDistrictcontinuestolevypropertytaxesonthatpadofitstaxbaseoutsidetheVSagelimitsandremisthosetaxreceiptstotheViiageforservicesintheunincorporatedareathatnowrepresentsitstaxbase12TheGeneralFundFundBalanceatDecember312002of15898842wasequalto479ofthe33162329Budgeted2003GeneraFundexpendituresexcludingtransfersforcapitapurposesCOMBINEDSTATEMENTALLFUNDSNoteIFundBalances19982001andSummary2002RevenuesExcessRevenuesandFundBalanceFiscalYearEndedDeceMber312002InclTransfersRevenuesDecember31AuditedPropertyOverFundGovernmentalFundTypes1998199920002001TaxTotalExpendituresBalanceGeneralFund11971662135021521218919713938713587723231783798196012915898842SpecialRevenueFundsIMRF2411872445229524377590MotorFuelTax427814299213206926211825RefuseandRecycling902166119294413988831623380911Communications271111330485397895456719GNASRedevelopment2911269138530446123824GNASCaretaker96304316694807159839ForeignFireinsurance0000SpeciaITaxAIIocafion00347716716TotalSpecialRevenueDebtSeniceFunds8102444781142246124238859936519142431244CapitaIProjectFundslO259111968441021107673236TotalGovernmentalFund41081701102042395124539801ProprietaryFundType3EnterpriseFundsWaterworks415197166166283391666696817638968Sewerage42975588368865937962763630150WholesaleWater4783437759400733552564303NorthMaineWaterandSewer4266559110109421839274344CommuterParkingLot126026194545240595275773TotalEcterprieFunds18817658213608342101555221834859InternalServiceFundsMunicipalEquipmentRepair538354144454225598234417Insurance3407267384708037333313552484TotallntamaiSeniceFunds33689133991534395892937869014934987082610119255401150572050110701606082011617940395372841781933884225225673335279156987492811524174880381961151775649261091348832787625621751TotalProprietaryFunds221865712535236824874481FiduciaryFundTypes6EscrowDeposit71205931247821491611491610Deposit298803608046407537060PoliceDepartmentSpedalAccount138241484725665260880PolicePension272112462562927029157175293803770FireSghtersPension3788787936747303401166889419794830TotalFiduciaryFunds652634226255228269545297715888156ComponentUnit0737814101031229014199950280692039902840500392802087145611623721219871286966839368996934796LibraryFund6200185118750711690683133927833997003778563TotalAllFundsMernoOny13053354519182211522075026227611477014361014119912691909114685013175424357923957418629541508773058424698250806101321585193953739537936974953699124221237647791762601104892345454009112838113440142691335506578001071843807524919438793441127284515753836823597659989335762103493022869780145610888071601823362687887490726496658376314539821215582797261851680058310604352347369443268524025882756146973547379845419468217236646553175IIIIIIIIIIIIIIIIII CashandInvestmentsatDec311998GeneralFund8450797SpecialRevenueFundsDebtSeniceFundsCapitolProjectFundsCapitolEquipmentReplacementGNASProjectVillagePermanenlCapitalProjectsAllOtherTotolCapitolProjectsProprietaryFundsFiduciaryFunds6199920002001200219356035122067291475675615032003198539318774202160449253572639587582478605365301724275572813024105399276055537646046879678587155389771515159051255952935066519250106108151815841850170156992665107736253716261471216120760659541888645151112965910679464230415623957356517597686219850397543193560493182248117340224169069262133222039976353195634078943705869323792921246976529166375530738015757549344880288132ComponentUnitLibraryFund8216695419850691559116415253601169433TotalCashandInvestments9126546175186995726218439403274886813244016481Notes1ThesecondensedfinancialstatementsfortheyearsendingDecember3119982002havebeenpreparedfimthefullComprehensiveAnnualFinancialReportsoftheVageofGenviewanddonotpurporttobecompleteauditsThefullhanciastatementstogetherwiththereportoftheViagesindependentaccountantsareavailableuponrequestTheaccountingpoliciesoftheVillageconformtogenerallyacceptedaccountingprinciplesasapplicabletogovernmentalunitsTheaccountsoftheViageaorganizedonthebasisoffundsandaccountgroupseachofwhichisconsideredaseparateaccountingentityThevariousfundsaregroupedintothethreebroadcategoriesofGovernmentalFundsFiduciaryFundsandProprietaryFundsWithintheGovernmentalFundsaretheGeneraFundthegeneoperationfundwhichisusedtoaccountforaflfinansiaresourcesexceptthoserequiredtobeaccountedforinanotherfundSpecialRevenueFundswhichareusedtoaccountfortheproceedsofspecificrevenuesourcesthatarelegallyrestrictedtoexpendituresforspecifiedpurposesDebtServiceFundsandCapitalProjectFundsAllgovernmentalfundsandexpendabletrustfundsareaccountedforusingacurrentfinancialresourcesmeasurementfocuswhichhasonlycurrentassetsandcurrentliabilitiesonthebalancesheetandoperatingstatementspresentincreasesanddecreasesinnetcurrentassetsAitpropdetaryfundsandpensiontrustfundsareaccountedforonaflowofeconomicresourcesmeasurementfocuswithallassetsandliabilitiesassociatedwiththeoperationofthesefundsincludedonthebalancesheetsandfundequitysegregatedintocontributedcapitalandretainedearningsoperstingstatementspresenlincreasesanddecreasesinnettotelassetsThemodifiedaccrualbasisofaccounfingisfogowedforalGovernmentalFundTypesandExpendableTnJstFundsintheFiduciaryFundscstegoyAflremainingFiduciaryFundsPensionTrustFundsandPropdetaryFundsareaccountodforusingtheaccrualbasisofaccounfingTheReporioftodependentAuditorintheVillagesgenerapurposefinancialstatementsforitsfiscalyearendedDecember312002includedthefollowinglanguogecomparablecleanopinionswereincludedintheVillages19982001auditsshowninthistableInouropinionthegenerapurposefinancialstatementsreferredtoabovepresentfadyinallmaterialrespectsthefinancialpositionoftheViageofGlenviewIllinoisasofDecember312002andtheresultsofitsoperationsandthecashflowsofitsproprietaryfundtypesfortheyearthenendedinconformitywithaccountingprinciplesgenerallyacceptedintheUnitedStatesofAmericaAsoinouropinionthecombiningindividualfundandaccountgroupfinancialstatementsreferredtoabovepresentfoidyinallmaterialrespectsthefinancialpositionofeachoftheindividualfundsandaccountgroupsoftheVfageofGlenviewIllinoisasofDecember312002andtheresultsofoperationsofsuchfundsandthecashflowsofindlvidustproprietaryfundsfortheyearthenendedinconformitywithaccountingprinciplesgenerstyacceptedintheUnitedStatesofAmerica2TheGlenviewNavalAirStationRedevelopmentFundwascreatedtoaccountfortheresourcesandexpendituresincurredinthedevelopmentoftheGenviewNavalAirBaseandwhichwasvacatedbytheNavyonSeptember919953TheamountsshownasfundbalancesfortheProprietaryFundsareretainedearningsexstudecontdbutodcapitaandtheamountsshownasexcessrevenuesrepresentthechangeinretainedearningsTotalrevenuesrepresentoperatingrevenues4Priortofiscalyear1993theVillagemaintainedtwoWaterworksFundstoprovideaccountingfortheeasternportfonoftheViageWaterworksEastandthewesternpodonandtheapplicableunincorporatedaaadjacenttothewesternborderoftheViageWaterworksWestthatisservedbythewatersystemretainedearningsatDecember311992were3909087forWaterworksEastand5537828forWaterworksWestThetwoaccountingfundsweresetupin1977whenthetwoprivatewatercompaniesservingtheapplicablewesternportionandunincorporatedareaswereattherequestoftheresidentsacquiredbytheViageforthepurposeofupJradingthewatergestityinthatareabyreplacingwellwatersupplywithLakeMichiganwatersupplythathadbeenavailabletoeastGlenviewsince1937twasdeterminedthatthecostofamortizfugthedebtapplicabletotheacquisitionofthetwopdvatewatercompaniesandconstructingthenecessarytransmissionmainstorageandwestsystemupgradingwouldbepaidforbythecustomerofthewestsystemTheuseofdifferingratescontinueduntil1992whenaunifiedratestucfurewasputinpaceandtheuseofaminimumchargeforwaterusagewaseliminatedThetwofundswerecombinedinfiscalyear1993AseperatoSewerageFundwascreatedinfiscalyear1986toaccountforthefundsnecessarytoprovidesanitarysewerservicetoboththeincorporatedandunincorporatedaasservedbytheViagePriorlof988thesefundswereaccountedforinthetwoWaterworksFundsTheWholesaleWaterFundaccountsforthesaleofwatertoCitizensUbityCompanyforitsserviceareaoutsidetheViiageofGlenviewThNorthMaineWaterandSewerFundaccountsforaflfnarisalactivityrelatedtotheVigageprovidingwaterandsewerservicetoanunincorporatedareasouthwestoftheVillagefunmeriyservedbytheNorthSuburbanPublicUtilitiesCompany5TheMunicipalEquipmentRepairFundisusedtoaccountforthecostsofrepairingandmaintainingallVagevehicles6ExcludestheVlagesAgencyFunds7TheEscrowDepositFundisusedtoaccountformoniesondepositwiththeVfagethecostofpubfloimprovementstobededicatedtotheVillagemustbeescrowedwiththeVfageandaspaymentsarerequiredforsatisfactoryworkcompletedmoniesarereeasedtocontractorstoterastearnedontheescroweddepositsisretainedbytheVillageandannuagytransferredtotheGeneralFund8Beginningnfiscalyear1993theLibraryFundwaspresentedintheauditasacomponentunitoftheVillagebecausetheLibrarypossessesthecharacteristicsofalegallyseparalegovernmentseparatelyelected7memberboardwhichannuallydeterminesitsbudgetandtaxlevy9TheViagesCashControlandinvestmentPoicywasorigfoalyadoptedonFebruary211983andwasrevisedonMarch151985January161990March191996andJanuary8200010Includestwonewfundscreatodinfiscayear1999TheGenLandSaesFundDecember312002fundbalance61109507andtheVilagePermanentFundDecember312002fundbaance37309450TheGlenLandSalesFundisusedfuaccountforgrosslandsalesrelatedlotheGlenviewNavalAirBaseandtheViagePermanentFundreceivesfromTheGlenLandSaesFund20ofthegrossandsaestobeusedforprojectsnotrelatedtotheGenviewNavalAirBase176 FIXEDASSETSATDECEMBER312002GeneralFixedAssetsfLandandImprovements6143853BuildingsandImprovements14404936WaterandSewerSystems0Equipment9983124OfficeFurnitureandEquipment2207222Subtotal32739135LessAccumulatedDepreciation0Total32715ProprietaryFundFixedAssets230285144695445078605289468318672487417651401502334726742Notes1FixedassetsusedingovernmentalfundtypeoperationsamaccountedforintheGeneralFixedAssetsAccountGroupratherthaningovernmentalfundsAllfixedassetsarevaluedathistodcalcostorestimatedhistodcalcostifactualisnotknownContdbutedfixedassetsarerecordedattheirfairmarketvalueonthedatedonatedPublicdomaininfrastructurefixedassetsincludingmadsbridgescurbsandguttersstreetsandgdewalksdrainagesystemsandlightingsystemshavenotbeencapitalizedNodepreciationisrecordedonGeneralFixedAssetsThistableincludesthegenerafixedassetsoftheGlenviewPublicLibraryZFixedAssetsinthePmprietaryFundsarevaluedathistoricalcostorestimatedhistoricalcostDepreciationonagexhaustiblefixedassetsischargedasanexpenseagainstoperalensDepreciationisprovidedovertheestimatedusefulllvesusingthestraighllinemeihod177IIIIIIIIIIIIIIIIII