HomeMy Public PortalAbout10-25-2018 TIF Joint Review Board Agenda and PacketTIF Joint Review Board
Thursday, October 25, 2018
3:00 PM
24401 W. Lockport Street
Plainfield, IL 60544
In the Boardroom
Agenda
A.CALL TO ORDER, PLEDGE
B.PUBLIC COMMENTS
C.TIF ANNUAL MEETING - FISCAL YEAR 2018
C.1.Cover Memo
Staff Cover Memo.pdf
C.2.Audited Financial Statements for Fiscal Year ending April 30, 2018.
Audited Financial Statements for Fiscal Year ending April 30, 2018.pdf
C.3.Annual Report
Annual Report.pdf
D.ADJOURN
1
Agenda Item No:C.1
TIF Joint Review Board Agenda Item Report
Meeting Date: October 25, 2018
Submitted by: Traci Pleckham
Submitting Department: Management Services Department
Item Type: Department Report
Agenda Section: TIF ANNUAL MEETING - FISCAL YEAR 2018
Subject:
Cover Memo
Suggested Action:
Attachments:
Staff Cover Memo.pdf
2
Michael P. CollinsI•lu LLllI w-- l nwii
i i... 7 u iu 4h'i h PRESIDENT
VILLAGE OP
PLAINFIELD Michelle Gibas
VILLAGE CLERK
TRUSTEES
Margie Bonuchi
Bill Lamb
Cally Larson
Larry D. Newton
Edward O'Rourke
October 8, 2018 Brian Wojowski
To: Plainfield Downtown TIF District Joint Review Board
From: Traci Pleckham—Management Services Director
CC: James Harvey—Village Attorney
Subject: Annual Meeting
The Village of Plainfield would like to convene a meeting of the Joint Review Board on
Thursday, October 25, 2018 at 3:00pm at Village Hall, 24401 W. Lockport Street.
In accordance with Illinois Tax Increment Financing Legislation, the Village has
provided the Board with the following information:
Audited Financial Statements for fiscal year ending April 30, 2018
Certification from Mayor Collins stating the municipality has complied with all of
the requirements of the TIF legislation.
An opinion from the Village Attorney stating the Village has complied with the
TIF Act.
An analysis of the special tax allocation fund.
A summary of activities undertaken within the project area.
Should you have any questions regarding this information, please feel free to contact me
at 815-436-7093. You will also have an opportunity to ask questions at the meeting
should you attend.
24401 W. Lockport Street Plainfield, IL 60544
Phone (815) 436-7093 Fax (815) 436-1950 Web www.plainfield-il.org
3
Agenda Item No:C.2
TIF Joint Review Board Agenda Item Report
Meeting Date: October 25, 2018
Submitted by: Traci Pleckham
Submitting Department: Management Services Department
Item Type: Department Report
Agenda Section: TIF ANNUAL MEETING - FISCAL YEAR 2018
Subject:
Audited Financial Statements for Fiscal Year ending April 30, 2018.
Suggested Action:
Attachments:
Audited Financial Statements for Fiscal Year ending April 30, 2018.pdf
4
SECTION 2[Sections 2 through 5 must be completed for each redevelopment project area listed in Section 1.]
FY 2018
Name of Redevelopment Project Area(below):
Village of Plainfield Downtown TIF Uni 099/100/32
Primary Use of Redevelopment Project Area*: Combination/Mixed
Types include:Central Business District, Retail,Other Commercial, Industrial, Residential, and Combination/Mixed.
If"Combination/Mixed"List Component Types: Central Bus/Res
Under which section of the Illinois Municipal Code was Redevelopment Project Area designated?(check one):
Tax Increment Allocation Redevelopment Act X
Industrial Jobs Recovery Law
Please utilize the information below to properly label the Attachments.
No Yes
Were there any amendments to the redevelopment plan,the redevelopment project area,or the State Sales Tax Boundary?[65
ILCS 5/11-74.4-5(d)(1)and 5/11-74.6-22(d)(1)] X
If yes,please enclose the amendment(labeled Attachment A).
Certification of the Chief Executive Officer of the municipality that the municipality has complied with all of the requirements of the
Act during the preceding fiscal year.[65 ILLS 5/11-74.4-5(d)(3)and 5/11-74.6-22(d)(3)] X
Please enclose the CEO Certification(labeled Attachment B).
Opinion of legal counsel that municipality is in compliance with the Act.[65 ILLS 5/11-74.4-5(d)(4)and 5/11-74.6-22(d)(4)]
Please enclose the Legal Counsel Opinion(labeled Attachment C). X
Statement setting forth all activities undertaken in furtherance of the objectives of the redevelopment plan, including any project
implemented and a description of the redevelopment activities.[65 ILCS 5/11-74.4-5(d)(7)(A and B)and 5/11-74.6-22(d)(7)(A X
and B)]
If yes,please enclose the Activities Statement(tabled Attachment D).
Were any agreements entered into by the municipality with regard to the disposition or redevelopment of any property within the
redevelopment project area or the area within the State Sales Tax Boundary?[65 ILCS 5/11-74.4-5(d)(7)(C)and 5/11-74.6-22(d)
7)(C)]
X
If yes,please enclose the Agreement(s)(labeled Attachment E).
Is there additional information on the use of all funds received under this Division and steps taken by the municipality to achieve the
objectives of the redevelopment plan?[65 ILCS 5/11-74.4-5(d)(7)(D)and 5/11-74.6-22(d)(7)(D)] X
If yes,please enclose the Additional Information(labeled Attachment F).
Did the municipality's TIF advisors or consultants enter into contracts with entities or persons that have received or are receiving
payments financed by tax increment revenues produced by the same TIF?[65 ILCS 5/11-74.4-5(d)(7)(E)and 5/11-74.6-22(d)(7)
E)]
X
If yes,please enclose the contract(s)or description of the contract(s)(labeled Attachment G).
Were there any reports or meeting minutes submitted to the municipality by the joint review board?[65 ILCS 5/11-74.4-5(d)(7)(F)
and 5/11-74.6-22 (d)(7)(F)] X
If yes,please enclose the Joint Review Board Report(labeled Attachment H).
Were any obligations issued by the municipality?[65 ILCS 5/11-74.4-5(d)(8)(A)and
5/11-74.6-22(d)(8)(A)]
If yes,please enclose any Official Statement(labeled Attachment I).If Attachment I is answered yes,then the Analysis X
must be attached and(labeled Attachment J).
An analysis prepared by a financial advisor or underwriter setting forth the nature and term of obligation and projected debt service
including required reserves and debt coverage. [65 ILCS 5/11-74.4-5(d)(8)(B)and 5/11-74.6-22(d)(8)(B)] X
If attachment I is yes,then Analysis MUST be attached and(labeled Attachment J).
Has a cumulative of$100,000 of TIF revenue been deposited into the special tax allocation fund?65 ILLS 5/11-74.4-5(d)(2)and
5/11-74.6-22(d) (2)X
If yes,please enclose Audited financial statements of the special tax allocation fund
labeled Attachment K).
Cumulatively, have deposits of incremental taxes revenue equal to or greater than$100,000 been made into the special tax
allocation fund?[65 ILCS 5/11-74.4-5(d)(9)and 5/11-74.6-22(d)(9)]
If yes,the audit report shall contain a letter from the independent certified public accountant indicating compliance or
X
noncompliance with the requirements of subsection (q)of Section 11-74.4-3(labeled Attachment L).
A list of all intergovernmental agreements in effect to which the municipality is a part, and an accounting of any money transferred
or received by the municipality during that fiscal year pursuant to those intergovernmental agreements.[65 ILCS 5/11-74.4-5(d)
10)]
X
If yes,please enclose the list only,not actual agreements(labeled Attachment M).
5
SECTION 3.1 -(65 ILCS 5/11-74.4-5(d)(5)(a)(b)(d))and (65 ILCS 5/11-74.6-22 (d) (5)(a)(b)(d))
Provide an analysis of the special tax allocation fund.
FY 2018
Village of Plainfield Downtown TIF Uni
TIF NAME: 099/100/32
Special Tax Allocation Fund Balance at Beginning of Reporting Period $540,540
Revenue/Cash Cumulative
Receipts for Totals of
SOURCE of Revenue/Cash Receipts:
Current Reporting Revenue/Cash
Year Receipts for life
of TIF of Total
Property Tax Increment 718,508 $ 7,595,163 98%
State Sales Tax Increment 0%
Local Sales Tax Increment 0%
State Utility Tax Increment 0%
Local Utility Tax Increment 0%
Interest 7,686 $99,068 1%
Land/Building Sale Proceeds 72,922 1%
Bond Proceeds 0%
Transfers from Municipal Sources 0%
Private Sources 0%
Other(identify source if multiple other sources, attach
schedule) 9,594 0%
All Amount Deposited in Special Tax Allocation Fund 726,194
Cumulative Total Revenues/Cash Receipts 7,776,747 100%
Total Expenditures/Cash Disbursements (Carried forward from 1,071,698
Section 3.2)
Transfers to Municipal Sources
Distribution of Surplus
Total Expenditures/Disbursements 1,071,698
Net/Income/Cash Receipts Over/(Under) Cash Disbursements 345,504)
FUND BALANCE, END OF REPORTING PERIOD* 195,036
If there is a positive fund balance at the end of the reporting period, you must complete Section 3.3
6
SECTION 3.2 A-(65 ILCS 5/11-74.4-5(d)(5)(c)and 65 ILCS 5/11-74.6-22(d)(5)(c))
FY 2018
TIF NAME: Village of Plainfield Downtown TIF Uni 099/100/32
ITEMIZED LIST OF ALL EXPENDITURES FROM THE SPECIAL TAX ALLOCATION FUND
by category of permissible redevelopment project costs)
PAGE 1
Category of Permissible Redevelopment Cost[65 ILCS 5/11-74.4-3(q)and 65 ILCS 5/11-74.6-10(o)] Amounts Reporting Fiscal Year
1.Cost of studies,surveys,development of plans,and specifications.Implementation and administration
of the redevelopment plan,staff and professional service cost.
2.Annual administrative cost.
Administration and Downtown Maintenance 28,055
28,055
3.Cost of marketing sites.
4.Property assembly cost and site preparation costs.
5.Costs of renovation,rehabilitation,reconstruction,relocation,repair or remodeling of existing public or
private building,leasehold improvements,and fixtures within a redevelopment project area.
6.Costs of the constructuion of public works or improvements.
7
SECTION 3.2 A
PAGE 2
7.Costs of eliminating or removing contaminants and other impediments.
8.Cost of job training and retraining projects.
9.Financing costs.
10.Capital costs.
Downtown Parking/Road Improvements 916,525
Façade Improvement Matching Grant 127,118
1,043,643
11.Cost of reimbursing school districts for their increased costs caused by TIF assisted housing projects.
12.Cost of reimbursing library districts for their increased costs caused by TIF assisted housing projects.
8
SECTION 3.2 A
PAGE 3
13.Relocation costs.
14.Payments in lieu of taxes.
15.Costs of job training,retraining,advanced vocational or career education.
16.Interest cost incurred by redeveloper or other nongovernmental persons in connection with a
redevelopment project.
17.Cost of day care services.
18.Other.
TOTAL ITEMIZED EXPENDITURES I $ 1,071,698
9
Section 3.2 B
FY 2018
TIF NAME: Village of Plainfield Downtown TIF Uni 099/100/32
Optional: Information in the following sections is not required by law, but would be helpful in creating fiscal
transparency,
List all vendors, including other municipal funds, that were paid in excess of$10,000 during the current reporting year.
Name Service Amount
JK2 Properties, LLC Facade Improvement Grant 19,500.00
Barvian Properties, LLC Facade Improvement Grant 70,197.00
Plainfield Castle, LLC Facade Improvement Grant 30,725.00
Baxter&Woodman Capital/Infrastructure 79,039.00
D Construction, Inc. Capital/Infrastructure 489,873.00
Brandt Excavating, Inc. Capital/Infrastructure 270,424.00
10
SECTION 3.3-(65 ILCS 5/11-74.4-5(d)(5d)65 ILCS 5/11-74.6-22(d)(5d)
Breakdown of the Balance in the Special Tax Allocation Fund At the End of the Reporting Period by source
FY 2018
TIF NAME: Village of Plainfield Downtown TIF Uni
FUND BALANCE BY SOURCE 195,036
Amount of Original
Issuance Amount Designated
1. Description of Debt Obligations
Total Amount Designated for Obligations
2. Description of Project Costs to be Paid
Total Amount Designated for Project Costs
TOTAL AMOUNT DESIGNATED
SURPLUS/(DEFICIT) 195,036
11
SECTION 4 [65 ILCS 5/11-74.4-5 (d) (6)and 65 ILCS 5/11-74.6-22 (d) (6)]
FY 2018
TIF NAME: Village of Plainfield Downtown TIF Uni 099/100/32
Provide a description of all property purchased by the municipality during the reporting fiscal year within the
redevelopment project area.
Check here if no property was acquired by the Municipality within the
X
Redevelopment Project Area.
Property Acquired by the Municipality Within the Redevelopment Project Area.
Property(1):
Street address:
Approximate size or description of property:
Purchase price:
Seller of property:
Property(2):
Street address:
Approximate size or description of property:
Purchase price:
Seller of property:
Property (3):
Street address:
Approximate size or description of property:
Purchase price:
Seller of property:
Property (4):
Street address:
Approximate size or description of property:
Purchase price:
Seller of property:
12
SECTION 5-20 ILCS 620/4.7(7)(F)
PAGE 1
FY 2018
TIF Name: Village of Plainfield Downtown TIF Uni 099/100/32
Page 1 is to be included with TIF report. Pages 2 and 3 are to be included ONLY if projects are listed.
Select ONE of the following by indicating an'X':
1.NO projects were undertaken by the Municipality Within the Redevelopment Project Area.
2.The Municipality DID undertake projects within the Redevelopment Project Area. (If selecting this option,
complete 2a.) X
2a.The number of projects undertaken by the municipality within the Redevelopment Project Area: 7
LIST the projects undertaken by the Municipality Within the Redevelopment Project Area:
Estimated Investment
for Subsequent Fiscal Total Estimated to
TOTAL: 11/1/99 to Date Year Complete Project
Private Investment Undertaken(See Instructions) 2,948,269 $ 42,987 $ 2,991,256
Public Investment Undertaken 6,124,266 $302,943 $ 6,427,209
Ratio of Private/Public Investment 13/27 27/58
PROJECT NAME TO BE LISTED AFTER PROJECT NUMBER
Project 1*: Façade Improvements
Private Investment Undertaken(See Instructions) 2,586,069 $ 42,987 $ 2,629,056
Public Investment Undertaken 2,122,053 $ 52,943 $ 2,174,996
Ratio of Private/Public Investment 1 7/32 1 19/91
Project 2*:Parking Improvements
Private Investment Undertaken (See Instructions)
Public Investment Undertaken 2,835,201 $2,835,201
Ratio of Private/Public Investment 0 0
Project 3*:Economic Incentive
Private Investment Undertaken(See Instructions) 362,200 362,200
Public Investment Undertaken 87,800 87,800
Ratio of Private/Public Investment 4 1/8 4 1/8
Project 4*:Purchase For Resale
Private Investment Undertaken(See Instructions)
Public Investment Undertaken 244,624 244,624
Ratio of Private/Public Investment 0 0
Project 5*:Ally Improvements
Private Investment Undertaken(See Instructions)
Public Investment Undertaken 156,495 156,495
Ratio of Private/Public Investment 0 0
Project 6*:Update Downtown Streetscape
Private Investment Undertaken (See Instructions)
Public Investment Undertaken 671,730 $250,000 $ 921,730
Ratio of Private/Public Investment 0 0
13
PAGE 2 **ATTACH ONLY IF PROJECTS ARE LISTED**
Project 7*:Road Improvement(Village Green)
Private Investment Undertaken(See Instructions)
Public Investment Undertaken 6,363 6,363
Ratio of Private/Public Investment 0 0
Project 8*:
Private Investment Undertaken(See Instructions)
Public Investment Undertaken
Ratio of Private/Public Investment 0 0
Project 9*:
Private Investment Undertaken(See Instructions)
Public Investment Undertaken
Ratio of Private/Public Investment 0 0
Project 10*:
Private Investment Undertaken(See Instructions)
Public Investment Undertaken
Ratio of Private/Public Investment 0 0
Project 11*:
Private Investment Undertaken(See Instructions)
Public Investment Undertaken
Ratio of Private/Public Investment 0 0
Project 12*:
Private Investment Undertaken(See Instructions)
Public Investment Undertaken
Ratio of Private/Public Investment 0 0
Project 13*:
Private Investment Undertaken(See Instructions)
Public Investment Undertaken
Ratio of Private/Public Investment 0 0
Project 14*:
Private Investment Undertaken(See Instructions)
Public Investment Undertaken
Ratio of Private/Public Investment 0 0
Project 15*:
Private Investment Undertaken(See Instructions)
Public Investment Undertaken
Ratio of Private/Public Investment 0 0
14
Optional: Information in the following sections is not required by law,but would be helpful in evaluating the
performance of TIF in Illinois.*even though optional MUST be included as part of the complete TIF report
SECTION 6
FY 2018
TIF NAME: Village of Plainfield Downtown TIF Uni 099/100/32
Provide the base EAV(at the time of designation)and the EAV for the year reported for the redevelopment project area
Year redevelopment
project area was Reporting Fiscal Year
designated Base EAV EAV
12/8/1998 $ 3,902,976 $ 7,897,483
List all overlapping tax districts in the redevelopment project area.
If overlapping taxing district received a surplus, list the surplus.
Check if the overlapping taxing districts did not receive a surplus.
Surplus Distributed from redevelopment
Overlapping Taxing District project area to overlapping districts
SECTION 7
Provide information about job creation and retention:
Description and Type
Number of Jobs Number of Jobs Temporary or
Retained Created Permanent)of Jobs Total Salaries Paid
SECTION 8
Provide a general description of the redevelopment project area using only major boundaries:
Optional Documents Enclosed
Legal description of redevelopment project area
Map of District
15
Agenda Item No:C.3
TIF Joint Review Board Agenda Item Report
Meeting Date: October 25, 2018
Submitted by: Traci Pleckham
Submitting Department: Management Services Department
Item Type: Department Report
Agenda Section: TIF ANNUAL MEETING - FISCAL YEAR 2018
Subject:
Annual Report
Suggested Action:
Attachments:
Annual Report.pdf
16
aunt ••••„ ;;;ll,_ Michael P. Collins
i• _i u:it q i h PRESIDENT
VILLAGE OP
PLAINFIELD Michelle Gibas
VILLAGE CLERK
TRUSTEES
Margie Bonuchi
Bill Lamb
Gaily Larson
Larry D. Newton
Edward O'Rourke
Brian Wojowski
ATTACHMENT B
Village of Plainfield Downtown TIF District
Statement of Compliance
Village President
2018
The Village of Plainfield has operated the Downtown TIF District in Compliance with
the TIF Act for the current Village Fiscal Year ending April 30, 2018. The Village will
convene the Joint Review Board as soon as the Village Board accepts the Financial
Audit.
October 2, 2018
j",
ichael Collins, Village President
24401 W. Lockport Street Plainfield, IL 60544
Phone (815) 436-7093 Fax (815) 436-1950 Web www.plainfield-il.org
17
ATTACHMENT C
TRACY, JOHNSON & WILSON
Attorneys at Law
First Community Bank Building
2801 Black Road, Second Floor
Joliet, Illinois 60435
Raymond E.Meader OF COUNSEL
A.Michael Wojtak James B.Harvey
Kenneth A.Carlson TELEPHONE (815)723-8500
John S.Gallo Louis R.Bertani(1928-1999)
Richard E.Vogel FAX (815) 727-4846 Thomas R.Wilson(1929-2001)
Donald J.Tracy(1926-2003)
John G.Foreman Wayne R.Johnson(1930-2008)
Megan M.Olson Richard H.Teas(1930-2008)
October 5, 2018
VILLAGE OF PLAINFIELD DOWNTOWN TIF DISTRICT
STATEMENT OF COMPLIANCE
VILLAGE ATTORNEY 2018
Based on the information that has been provided to date, the Village of Plainfield has
operated the Downtown TIF District in compliance with the TIF Act for the current fiscal year
ending April 30, 2018.
e
By: t-11:
mes B. Harvey, Village torney
V
18
IiiH WU W • Michael P. Collins
I I I I I-uI.1110'-'I' I '1' PRESIDENT
VILLAGE OF
PLAINFIELD Michelle Gibas
VILLAGE CLERK
TRUSTEES
Margie Bonuchi
Bill Lamb
Cally Larson
ATTACHMENT D Larry D. Newton
Edward O'Rourke
Village of Plainfield Downtown TIF District Brian Wojowski
Statement of Activities
2018
The 2018 fiscal year experienced continued investment in the downtown TIF District. The
Village experienced ongoing utilization of the façade grant program. In addition, the Village
allocated TIF funds for eligible expenses to support future investments in parking, maintenance,
and marketing of the downtown.
In fiscal year 2018, the Village of Plainfield made several façade grant payments totaling
127,118.46. This total includes payments of$70,196.65 for façade improvements at 24030 W.
Lockport Street (Barvian Realty/Hazel Marie's); $30,724.88 for façade improvements at 24044
W. Lockport Street (Prudential); $6,696.93 for façade improvements at 24032 W. Lockport
Street (Miller's Old Fashion Butcher Shop); and $19,500 for façade improvements at 24108 W.
Lockport Street (Mora Asian Fusion). After the end of the fiscal year, in September of 2018, the
Village also made the final reimbursement of$2,500 for the property at 24108 W. Lockport
Street.
Interest remains strong in new façade projects at several additional buildings downtown,
specifically the former Volar Restaurant at 24136 W. Lockport St. Staff has been working with
the owner on the planned renovations for this building. Staff also anticipates a potential façade
project at 24029 W. Lockport Street (former Wells Fargo office). The continuing façade projects
are having a positive impact on the Village aesthetically and economically. The program's
popularity is increasing, and we anticipate a continued positive trend because we offer this
program.
The Village continued its maintenance and investment in the downtown streetscape and road
improvements to ensure that the infrastructure is in excellent condition for years to come.
Village staff believes the TIF District continues to succeed at stimulating investment and
improvement in the downtown district that will provide an economic benefit as well as an
aesthetic benefit to the public and stakeholders in the TIF District.
24401 W. Lockport Street Plainfield, IL 60544
Phone (815) 436-7093 Fax (815) 436-1950 Web www.plainfield-il.org
19
SIKICH®
CERTIFIED PUBLIC ACCOUNTANTS&ADVISORS
Members of American Institute of Certified Public Accountants
1415 West Diehl Road,Suite 400
Naperville, IL 60563 ATTACHMENT K
630.566.8400
SEDC€CH.COM
INDEPENDENT AUDITOR'S REPORT
The Honorable President
Members of the Board of Trustees
Village of Plainfield, Illinois
Report on the Financial Statements
We have audited the accompanying financial statements of the governmental activities, the
business-type activities, each major fund, and the aggregate remaining fund information of the
Village of Plainfield, Illinois (the Village) as of and for the year ended April 30, 2018, and the
related notes to financial statements, which collectively comprise the Village's basic financial
statements as listed in the table of contents.
Management's Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements
in accordance with accounting principles generally accepted in the United States of America;this
includes the design, implementation, and maintenance of internal control relevant to the
preparation and fair presentation of the financial statements that are free from material
misstatement,whether due to fraud or error.
Auditor's Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We
conducted our audit in accordance with auditing standards generally accepted in the United States
of America. Those standards require that we plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and
disclosures in the financial statements.The procedures selected depend on the auditor's judgment,
including the assessment of the risks of material misstatement of the financial statements,whether
due to fraud or error. In making those risk assessments, the auditor considers internal control
relevant to the Village's preparation and fair presentation of the financial statements in order to
design audit procedures that are appropriate in the circumstances, but not for the purpose of
expressing an opinion on the effectiveness of the Village's internal control. Accordingly, we
express no such opinion. An audit also includes evaluating the appropriateness of accounting
policies used and the reasonableness of significant accounting estimates made by management, as
well as evaluating the overall presentation of the financial statements.
ACCOUNTING TECHNOLOGY ADVISOPY
20
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis
for our audit opinions.
Opinions
In our opinion, the financial statements referred to above present fairly, in all material respects,
the respective financial position of the governmental activities, the business-type activities, each
major fund, and the aggregate remaining fund information of the Village of Plainfield, Illinois, as
of April 30, 2018, and the respective changes in financial position and, where applicable, cash
flows thereof for the year then ended in accordance with accounting principles generally accepted
in the United States of America.
Change in Accounting Principle
The Village adopted GASB Statement No. 75, Accounting and Financial Reporting for
Postemployment Benefits Other Than Pensions, which established standards for measuring and
recognizing liabilities, deferred inflows and outflows of resources and expenses; and modified
certain disclosures in the notes to financial statements and the required supplementary information
as discussed in Note 14 to the basic financial statements. Our opinion is not modified with respect
to this matter.
Other Matters
Required Supplementaiy Information
Accounting principles generally accepted in the United States of America require that the
management's discussion and analysis and the required supplementary information listed in the
table of contents be presented to supplement the basic financial statements. Such information,
although not a part of the basic financial statements, is required by the Governmental Accounting
Standards Board,who considers it to be an essential part of financial reporting for placing the basic
financial statements in an appropriate operational, economic, or historical context. We have
applied certain limited procedures to the required supplementary information in accordance with
auditing standards generally accepted in the United States of America,which consisted of inquiries
of management about the methods of preparing the information and comparing the information for
consistency with management's responses to our inquiries, the basic financial statements, and
other knowledge we obtained during our audit of the basic financial statements. We do not express
an opinion or provide any assurance on the information because the limited procedures do not
provide us with sufficient evidence to express an opinion or provide any assurance.
Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that
collectively comprise the Village's basic financial statements.The introductory section,combining
and individual fund financial statements and schedules, and statistical section are presented for
purposes of additional analysis and are not a required part of the basic financial statements.
The combining and individual fund financial statements and schedules are the responsibility of
management and were derived from and relate directly to the underlying accounting and other
records used to prepare the basic financial statements. The information has been subjected to the
auditing procedures applied in the audit of the basic financial statements and certain additional
2 -
21
procedures, including comparing and reconciling such information directly to the underlying
accounting and other records used to prepare the basic financial statements or to the basic financial
statements themselves, and other additional procedures in accordance with auditing standards
generally accepted in the United States of America. In our opinion, the combining and individual
fund financial statements and schedules are fairly stated in all material respects in relation to the
basic financial statements as a whole.
The introductory and statistical sections have not been subjected to the auditing procedures applied
in the audit of the basic financial statements and, accordingly, we do not express an opinion or
provide any assurance on them.
sded odzp
Naperville, Illinois
August 31, 2018
J -
22
VILLAGE OF PLAINFIELD,ILLINOIS
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
April 30,2018
Special Revenue
Liability Alcohol
Insurance Audit Enforcement
ASSETS AND DEFERRED
OUTFLOWS OF RESOURCES
ASSETS
Cash and investments 294,666 $ 15,977 $ 40,053
Receivables
Property tax 481,631 42,938
Allotments
Other 2,150
Total assets 776,297 58,915 42,203
DEFERRED OUTFLOWS OF RESOURCES
None
TOTAL ASSETS AND DEFERRED
OUTFLOWS OF RESOURCES 776,297 $ 58,915 $ 42,203
LIABILITIES,DEFERRED INFLOWS
OF RESOURCES,AND FUND BALANCES
LIABILITIES
Accounts payable 580 $
DEFERRED INFLOWS OF RESOURCES
Unavailable property tax revenue 481,631 42,938
Total liabilities and deferred inflows of resources 482,211 42,938
FUND BALANCES
Restricted
Street maintenance
Public safety 42,203
Audit 15,977
Liability insurance 294,086
Economic development
Total fund balances 294,086 15,977 42,203
TOTAL LIABILITIES,DEFERRED INFLOWS
OF RESOURCES,AND FUND BALANCES 776,297 $ 58,915 $ 42,203
84 -
23
Special Revenue
Tax
Motor Increment
Fuel Tax D.A.R.E. Financing Total
3,170,211 $ 15,174 $ 599,270 $ 4,135,351
727,457 1,252,026
90,611 90,611
2,150
3,260,822 15,174 1,326,727 5,480,138
3,260,822 $ 15,174 $ 1,326,727 $ 5,480,138
86,904 $ 9,120 $ 404,234 $ 500,838
727,457 1,252,026
86,904 9,120 1,131,691 1,752,864
3,173,918 3,173,918
6,054 48,257
15,977
294,086
195,036 195,036
3,173,918 6,054 195,036 3,727,274
3,260,822 $ 15,174 $ 1,326,727 $ 5,480,138
See independent auditor's report.)
85 -
24
VILLAGE OF PLAINFIELD,ILLINOIS
SCHEDULE OF REVENUES, EXPENDITURES,AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
TAX INCREMENT FINANCING FUND
For the Year Ended April 30, 2018
Original Final
Budget Budget Actual
REVENUES
Taxes
Property taxes 745,000 $ 745,000 $ 718,508
Investment income 2,000 2,000 7,686
Total revenues 747,000 747,000 726,194
EXPENDITURES
General government
Contractual services 450,000 450,000 944,580
Facade improvements 125,000 125,000 127,118
Total expenditures 575,000 575,000 1,071,698
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 172,000 172,000 345,504)
OTHER FINANCING SOURCES (USES)
Transfers (out) 550,000) (550,000)
Total other financing sources (uses) 550,000) (550,000)
NET CHANGE IN FUND BALANCE 378,000) $ (378,000) (345,504)
FUND BALANCE, MAY 1 540,540
FUND BALANCE,APRIL 30 195,036
See independent auditor's report.)
93 -
25
CERTIFIED PUBLIC ACCOUNTANTS&ADVISORS
Members of American Institute of Certified Public Accountants
1415 West Diehl Road,Suite 400
Naperville, IL 60563 ATTACHMENT L
630 566 8400
Sr [CH.COM
INDEPENDENT ACCOUNTANT'S REPORT ON
MANAGEMENT'S ASSERTION OF COMPLIANCE
The Honorable President
Members of the Board of Trustees
Village of Plainfield, Illinois
We have examined management's assertion that the Village of Plainfield, Illinois (the Village)
complied with the provisions of subsection (q) of Section 11-74.4-3 of the Illinois Tax Increment
Redevelopment Allocation Act(Illinois Public Act 85-1142)during the year ended April 30,2018.
Management is responsible for the Village's assertion. Our responsibility is to express an opinion
on management's assertion about the Village's compliance with the specific requirements based
on our examination.
Our examination was made in accordance with the standards established by the American Institute
of Public Accountants.Those standards require that we plan and perform the examination to obtain
reasonable assurance about whether management's assertion about compliance with the specified
requirements is fairly stated, in all material respects. An examination involves performing
procedures to obtain evidence about whether management's assertion is fairly stated, in all material
respects. The nature, timing, and extent of the procedures selected depend on our judgment,
including an assessment of the risks of material misstatement of management's assertion, whether
due to fraud or error. We believe that the evidence we obtained is sufficient and appropriate to
provide a reasonable basis for our opinion.
Our examination does not provide a legal determination on the Village's compliance with the
specified requirements.
In our opinion, management's assertion that the Village of Plainfield, Illinois, complied with the
aforementioned requirements for the year ended April 30, 2018, is fairly stated in all material
respects.
This report is intended solely for the information and use of the Board of Trustees, management
and the lllinois Department of Revenue, Illinois State Comptrollers Office, and the Joint Review
Board and should not be used by anyone other than these specified parties.
Z6&& . P
Naperville, Illinois
August 31, 2018
ACCOUNTING TECHNOLOGY ADVISORY
103 -
26