HomeMy Public PortalAboutFY 2011 Certified Comprehensive Annual Financial ReportVillage of Glenview,
Illinois
Comprehensive Annual Financial Report
For the Fiscal Year Ended December 31, 2011
Prepared by:
Adminstrative Services - Finance Division
Village of Glenview, Illinois
Comprehensive AnnualFinancial Report
For the Year Ended December 31, 2011
Page
Table of Contents i - vi
Officers and Officials vii
Certificate of Achievement for Excellence in Financial Reporting viii
Letter of Transmittal ix - xii
Organizational Chart xiii
Independent Auditors' Report 1 - 2
Management's Discussion and Analysis 3 - 20
Basic Financial Statements
Government-wide Financial Statements
Statement of Net Assets 21 - 22
Statement of Activities 23 - 24
Fund Financial Statements
Balance Sheet – Governmental Funds 25 - 26
Reconciliation of the Balance Sheet - Governmental Funds to the Statement of Net Assets 27
Statement of Revenues, Expenditures, and Changes in
Fund Balances (Deficit) – Governmental Funds 28 - 29
Reconciliation of the Statement of Revenues, Expenditures, and Changes
in Fund Balances of Governmental Funds to the Statement of Activities 30
Statement of Net Assets – Proprietary Funds 31 - 34
Statement of Revenues, Expenses, and Changes in Net Assets – Proprietary Funds 35 - 36
Statement of Cash Flows – Proprietary Funds 37 - 40
Statement of Fiduciary Net Assets – Fiduciary Funds 41
Statement of Changes in Plan Net Assets – Pension Trust Funds 42
Index to Notes to Financial Statements 43 - 45
Notes to Financial Statements 46 - 100
Required Supplementary Information (Unaudited)
Schedules of Funding Progress - Postemployment Benefit Plans
Illinois Municipal Retirement Fund 101
Police Pension Fund 101
Firefighters' Pension Fund 101
Other postemployment benefit plan 102
(Continued)
Village of Glenview, Illinois
COMPREHENSIVE ANNUAL FINANCIAL REPORT
For the Year Ended December 31, 2011
TABLE OF CONTENTS
INTRODUCTORY SECTION
FINANCIAL SECTION
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Page
Required Supplementary Information (Unaudited) (Continued)
Schedules of Employer Contributions
Police Pension Fund 103
Firefighters' Pension Fund 104
Illinois Municipal Retirement Fund 105
Schedule of Revenues, Expenditures, and Changes in Fund Balance (Deficit) - Budget and Actual
General Fund 106
Special Tax Allocation Fund 107
Notes to Required Supplementary Information 108
Governmental Funds
Major Funds
Schedule of Detailed Revenues and Other Financing Sources - Budget and Actual
General Fund 109 - 112
Schedule of Detailed Expenditures and Other Financing Uses - Budget and Actual
General Fund 113 - 118
Schedules of Detailed Revenues, Expenditures, and Changes in Fund
Balance (Deficit) - Budget and Actual
Special Tax Allocation Fund 119
Village Permanent Fund 120
Glen Land Sales Fund 121
General Obligation Taxable Bond Series of 2009E Fund 122
Nonmajor Governmental Funds
Combining Balance Sheet 123
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 124
Nonmajor Special Revenue Funds
Combining Balance Sheet 125 - 126
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 127 - 128
Schedules of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
Motor Fuel Tax Fund 129
Refuse and Recycling Fund 130
Joint Dispatch Fund 131
Foreign Fire Insurance Fund 132
Police Department Special Account Fund 133
Glen Redevelopment Fund 134
Glen Caretaker Fund 135
(Continued)
FINANCIAL SECTION (Continued)
Supplemental Information
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TABLE OF CONTENTS (Continued)
Village of Glenview, Illinois
COMPREHENSIVE ANNUAL FINANCIAL REPORT
For the Year Ended December 31, 2011
Page
Nonmajor Governmental Funds (Continued)
Nonmajor Debt Service Fund
Schedules of Revenues, Expenditures, and Changes in Fund Balance (Deficit) -
Budget and Actual - Corporate Purpose Bond Series of 2004 Fund 136
Nonmajor Capital Project Funds
Combining Balance Sheet 137
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 138
Schedules of Revenues, Expenditures, and Changes in Fund Balance -
Budget and Actual
Capital Projects Fund 139
Glen Capital Projects Fund 140
2006A Bond Projects Fund 141
Proprietary Funds
Major Enterprise Funds
Schedules of Revenues, Expenses, and Changes in Net Assets - Budget and Actual
Glenview Water Fund 142 - 143
North Maine Water and Sewer Fund 144 - 145
Glenview Sanitary Sewer Fund 146 - 147
Nonmajor Enterprise Funds
Combining Statement of Net Assets 148 - 149
Combining Statement of Revenues, Expenses, and Changes in Net Assets 150 - 151
Combining Statement of Cash Flows 152 - 153
Schedules of Revenues, Expenses, and Changes in Net Assets - Budget and Actual
Wholesale Water Fund 154 - 155
Commuter Parking Fund 156 - 157
(Continued)
Supplemental Information (Continued)
FINANCIAL SECTION (Continued)
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Village of Glenview, Illinois
COMPREHENSIVE ANNUAL FINANCIAL REPORT
For the Year Ended December 31, 2011
TABLE OF CONTENTS (Continued)
Page
Proprietary Funds (Continued)
Internal Service Funds
Combining Statement of Net Assets 158 - 159
Combining Statement of Revenues, Expenses, and Changes in Net Assets 160 - 161
Combining Statement of Cash Flows 162 - 165
Schedules of Revenues, Expenses, and Changes in Net Assets - Budget and Actual
Capital Equipment Replacement Fund (CERF)166
Municipal Equipment Repair Fund 167 - 169
Insurance and Risk Fund 170 - 171
Facilities Replacement Fund 172
Trust and Agency Funds
Pension Trust Funds
Combining Statement of Plan Net Assets 173
Combining Statement of Changes in Plan Net Assets 174
Schedule of Changes in Plan Net Assets - Budget and Actual
Police Pension Fund 175
Firefighters' Pension Fund 176
Agency Funds
Statements of Changes in Net Assets 177 - 178
(Continued)
TABLE OF CONTENTS (Continued)
Supplemental Information (Continued)
COMPREHENSIVE ANNUAL FINANCIAL REPORT
For the Year Ended December 31, 2011
FINANCIAL SECTION (Continued)
Village of Glenview, Illinois
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Page
Component Unit - Glenview Library
Combining Balance Sheet and Statement of Net Assets 179 - 182
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances
and Statement of Activities 183 - 184
Schedule of Revenues, Expenditures, and Changes in Fund Balance
Library General Fund 185 - 195
Library New Building Fund 196
Library Nonmajor Funds
Combining Balance Sheet 197 - 198
Combining Statement of Revenues, Expenditures, and Changes in Fund Balance 199 - 200
Schedules of Detailed Revenues, Expenditures, and Changes in Fund
Balance (Deficit) - Budget and Actual - Library Special Reserve Fund 201
Long-Term Debt Requirements
Corporate Purpose Note Series 1997 202
General Obligation Refunding Bond Series 2003B 203
General Obligation Bond Series 2004A 204
General Obligation Bond Series 2004B 205 - 206
General Obligation Refunding Bond Series 2005 207
General Obligation Bond Series 2006A 208
General Obligation Bond Series 2007A 209
General Obligation Bond Series 2007B 210
General Obligation Bond Taxable Series 2009A 211
General Obligation Bond Taxable Series 2009D 212
General Obligation Bond Taxable Series 2009E 213
General Obligation Refunding Bond Series 2011 214
Glenview Naval Air Station (GNAS) Redevelopment Area Funds
Combining Balance Sheet 215 - 216
Combining Schedule of Revenues, Expenditures, and Changes in Fund Balances (Deficit)217 - 218
(Continued)
TABLE OF CONTENTS (Continued)
Supplemental Information (Continued)
COMPREHENSIVE ANNUAL FINANCIAL REPORT
Village of Glenview, Illinois
For the Year Ended December 31, 2011
FINANCIAL SECTION (Continued)
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Other Supplemental Information
Page
Index to Statistical Section 219
Financial Trends
Schedule of Net Assets, Last Nine Fiscal Years 220 - 221
Schedule of Changes in Net Assets, Last Nine Fiscal Years 222 - 225
Fund Balances - Governmental Funds, Last Ten Fiscal Years 226 - 227
Changes in Fund Balances of Governmental Funds, Last Ten Fiscal Years 228 - 229
Revenue Capacity
Property Tax Information
Assessed Value and Actual Value of Taxable Property, Last Ten Levy Years 230 - 231
Direct and Overlapping Property Tax Rates, Last Ten Levy Years 232 - 233
Principal Property Tax Payers, Current Year and Nine Years Ago 234
Property Tax Levies and Collections, Last Ten Levy Years 235
Debt Capacity
Ratios of Outstanding Debt by Type, Last Ten Fiscal Years 236
Ratios of Net General Bonded Debt Outstanding, Last Ten Fiscal Years 237
Direct and Overlapping Governmental Activities Debt 238
Legal Debt Margin Information 239
Demographic and Economic Information
240
241
Operating Information
243
243 - 244
245
(Concluded)
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COMPREHENSIVE ANNUAL FINANCIAL REPORT
For the Year Ended December 31, 2011
TABLE OF CONTENTS (Continued)
STATISTICAL SECTION (UNAUDITED)
Village of Glenview, Illinois
Full-time Equivalent Village Employees by Function / Program, Last Ten Years
Operating Indicators by Function / Program, Last Ten Fiscal Years
Capital Asset Statistics by Function / Program, Last Ten Fiscal Years
Demographic and Economic Statistics, Last Ten Fiscal Years
Principal Employers, Current Year and Nine Years Ago
INTRODUCTORY SECTION
Philip O. C. White, Trustee
Village of Glenview, Illinois
Officers and Officials
December 31, 2011
LEGISLATIVE
Kerry D. Cummings
Todd Hileman
ADMINISTRATIVE
Todd Hileman, Village Manager
Village President
Village Clerk / Treasurer
Michael Jenny, Trustee
Debby Karton, Trustee
Scott Britton, Trustee
Paul Detlefs, Trustee
Pat Cuisinier, Trustee
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June 14, 2012
Honorable President
Members of the Board of Trustees
Citizens of the Village of Glenview
State law requires that every general-purpose local government publish, within six months of the close of each
fiscal year, a complete set of audited financial statements. The Comprehensive Annual Financial Report of the
Village of Glenview, Illinois, for the fiscal year ended December 31, 2011 is published to fulfill that
requirement. Management assumes full responsibility for the completeness and reliability of the information contained in this
report, based upon a comprehensive framework of internal controls that are established for this purpose.
Because the cost of internal controls should not exceed the anticipated benefits, the objective is to provide
reasonable, rather than absolute, assurance that the financial statements are free of any material misstatements. Miller, Cooper & Co., Ltd, Certified Public Accountants, has issued an unqualified (“clean”) opinion on the
Village of Glenview’s (the “Village”) basic financial statements for the year ended December 31, 2011. The
independent auditor’s report is located at the front of the financial section of this report.
Management’s Discussion and Analysis (MD&A) immediately follows the independent auditor’s report and provides a narrative introduction, overview, and analysis of the basic financial statements. MD&A complements
this letter of transmittal and should be read in conjunction with it.
Profile of the Village of Glenview
The Village, incorporated in 1899, is located in northern Cook County and is 20 miles north of the City of
Chicago. The Village serves a population of approximately 44,692. The Village is considered to be a primary
government and provides a full range of general governmental services. The Village is empowered to levy a
property tax on real property located within its boundaries. It also is empowered by state statute to extend its corporate limits by annexation, which it has done from time to time.
The Village’s legislative body consists of the Village President and a Board of six Trustees, all elected on an at-
large basis to overlapping four-year terms. The Village Manager is responsible for the day-to-day operations of
the Village. The Village of Glenview is a home rule municipality as defined by the Illinois Constitution. The Village provides comprehensive governmental services, including police and fire protection, health
services, water and sewer utilities, street construction and maintenance, code enforcements, planning and
zoning and general administrative services. In addition to serving Village residents, the Fire Department also
provides fire protection and ambulance service to the Village of Golf as well as the Glenbrook Fire Protection District which is comprised of approximately 20,000 residents located in unincorporated Cook County. Both of these entities have long-term intergovernmental agreements with the Village to pay for these services.
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Additionally, the Village operates the North Maine utilities system which provides water and sewer service to 5,000 customers also primarily in unincorporated Cook County. The Village has also entered into agreements
with the Village of Grayslake and the Village of Hainesville to provide public safety dispatching services.
The Village of Glenview Comprehensive Annual Financial Report includes all of its governmental and
business-type operation funds, pension trust funds (the Glenview Police Pension Fund and the Glenview Firefighters’ Pension Fund), agency funds, and component unit (the Glenview Public Library) funds, based on financial accountability. The accompanying financial statements include only those funds of the Village, as
there are no other organizations for which it has financial accountability. The pension funds are determined to
be pension trust funds due to their fiduciary and fiscal relationships with the Village as their sole purpose is to
provide retirement benefits to the Village’s sworn police officers and firefighters. The Public Library is included as a discrete presentation since it is governed by a separately elected Board of Trustees.
The annual budget serves as the foundation for the Village’s financial planning and control. State law requires
that a municipality operating under the budget system adopt its annual budget prior to the start of its fiscal year.
Through the budget, spending authority is conveyed by the expenditure object. The legal level of budgetary control is the fund level.
Local Economy
The Village of Glenview has a well-established reputation as a preeminent community, located in the northern corridor of the Chicago metropolitan area. The Village of Glenview is an outstanding place to live and work. It is an area that has an ideal mix of residential and multi-family housing, businesses, a mix of excellent schools
and municipal services coupled with being a major retail center for the surrounding area.
Like other communities, the Village of Glenview was affected by the prolonged national and regional recession which lasted from December 2007 through June 2009 and the recovery from which is very slow. The economy is not expected to fully recover for several years, the Village was, however, pleased to see during 2011 the
continuation of signs of a slow stabilization in several segments of the economy. However, local governments
are still being faced with the difficult choices of reducing service levels, assessing staffing levels, and
maintaining adequate reserves. The Village of Glenview has weathered this recession and slow recovery very well in large part due to the Village Board, management and staff continuing to re-evaluate every aspect of the Village’s operations for opportunities for new revenues and cost containment. Some of the positive cost
containment results were due to staff reductions with limited backfill, procurement savings realized through a
municipal partnering initiative in joint proposals for goods and services, reductions in general operating
expenses as a result of re-evaluating many budgeted items and cost-sharing through new intergovernmental agreements with neighboring communities. The Village Board, management and staff is pleased to report that they have been successful in achieving their primary goal of maintaining service levels to the greatest extent
possible, while not increasing the burden to the taxpayers.
While a number of revenue sources began to stabilize in 2011, they continued to fall short of the 2008 levels.
For instance, the annual sales tax revenue received in the Village in 2011 of $12,792,723 was 3.7% higher than the sales tax revenue received in 2010, but $325,367, or 2.5%, lower than 2008. Additionally, state shared
income tax had not increased since 2008, but increased in 2011 by $20,362, or .58%. There was also an
increase in income tax in 2011 of $305,194 which is due to a change in recording income tax revenue and,
thereby, resulted in capturing 13 months of revenue in 2011.
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While retail sales continue to lag behind the 2008 figures, the Village is pleased to report that its retail base continues to become more diversified. This diversification is evidenced by a comparison of the retail sales tax mix from 2001 to 2011. Specifically, in 2001, sales tax revenue related to the Illinois Department of Revenue’s
automotive sales tax category (Automobile and Filling Stations) accounted for 45% of the Village’s total tax
receipts. While this component is still very critical to the Village and generated $4.7 million or 25% of sales tax
receipts in 2011, the Furniture and Electronics sales tax category, which in 2001 generated approximately 1% of sales tax receipts, in 2011 generated $5.5 million, or nearly 29% of sales tax receipts for the year. This growth in the Furniture and Electronics sales tax category is due to the 2002 relocation of a major retail electronics
store into Glenview.
Historically, the Village of Glenview had experienced a high rate of growth in residential and commercial development. Although the decline in the local economy has kept development lower than the usual, in 2011 the Village still experienced a slight growth in commercial and residential activity. During 2011, in total the Village
issued 2,552 permits while 2,535 were issued in 2010. Included in these permits issued were 21 new single-
family residential permits, 137 single-family addition and remodel permits, 3 new commercial permits and 70
commercial addition and remodel permits. Another indicator of the strength of the Village of Glenview’s local economy is the median family income
figures from the 2010 American Community Survey (ACS) which report that the average income of Glenview
residents far exceeds the county and state averages. According to the ACS, Glenview’s 2010 median family
income was $127,815, compared to $65,039 for Cook County, $68,236 for the State of Illinois. This ranked the Village as the fourth wealthiest community in the State of Illinois amongst communities with populations over 25,000. The Village of Glenview also ranked fourth in terms of median household income.
Long-Term Financial Planning
The Village utilizes a 5-year Capital Improvement Program (“CIP”) to address major capital and infrastructure improvements. For a project to be included in the CIP, it must involve the creation or purchase of a tangible
asset with an original cost of at least $25,000 and a useful life of more than one year. The Village has primarily
followed a “pay-as-you-go” funding strategy for maintenance and replacement of assets and has issued debt for
new projects.
Major Initiatives and Accomplishments
Village Board Goals and Initiatives – The Board of Trustees developed and prioritized the 2011 strategic
goals which provided the overarching framework to promote the Village Board’s vision of providing outstanding services and programs in a fiscally prudent environment. The strategic goals included guiding the analysis, design and implementation of the information technology assets, continuing to improve the operating
budget and financial practices to promote efficient service delivery, fiscal responsibility and transparency,
continuing to improve operations, staffing and programs to maximize quality of service and efficiency,
enhancing the Village’s community planning and economic development efforts, continuing to develop
intergovernmental relationships, enhancing the Village communication program to promote expedient and effective dissemination of information to internal and external customers of the Village and improving the
capital improvement program in an effective and fiscally-responsible manner.
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Development Initiatives - Construction was completed in April 2012 on the 408,644 square foot corporate headquarters for Astellas Pharma US, Inc. at the northwest corner of Willow Road and the Tri-State Tollway and development plans for the 40 acre former Culligan headquarters site have been submitted, including a
90,000 square foot grocery anchor, rental apartment project and other retail. During the year, several other
large construction projects were completed or approved, including a 42,000 square foot addition to the
Glenbrook Hospital; 30,000 square foot retail center at Milwaukee and Lake Avenues (Glenview Commons), significant remodeling of the Historic Park District Administration Building that provides necessary space needs for the Park District office administration; Midwest Palliative Healing Garden, a 71,588 net square foot
building that would include a 16 bed hospice facility and Healing Garden. Pulte Homes has commenced site
grading for a 25 acre project consisting of 109 row home units, 38 duplex units, and 2 single-family detached
units. Northwestern Memorial Hospital was approved for annexation and rezoning to construct up to 475,000 square feet of medical offices on 11 acres in the next several years. In 2012, the Village intends to release a request for proposal to sell the 44 acres of Village-owned property at West Lake Avenue and Shermer Road for
development.
Awards and Acknowledgements
The Government Finance Officers Association of the United States and Canada awarded the Certificate of
Achievement for Excellence in Financial Reporting to the Village for the year ended December 31, 2010. The
Certificate of Achievement is a prestigious national award recognizing conformance with the highest standards
for preparation of state and local government financial reports. In order to be awarded the Certificate of Achievement, the Village had to publish an easily readable and
efficiently organized CAFR that satisfied both generally accepted accounting principles and applicable legal
requirements.
A Certificate of Achievement is only valid for a period of one year. The Village of Glenview has received a Certificate of Achievement for twenty-nine consecutive years (fiscal years ended 1982 through 2010). We
believe that our current report continues to conform to the Certificate of Achievement Program requirements
and we are submitting it to the GFOA to determine its eligibility for another certificate.
The preparation of this report could not be accomplished without the dedicated services of the entire staff of the Finance Division within the Administrative Services Department and the cooperation and assistance rendered
by the staffs of other operating departments of the Village. I would like to express our appreciation to all of
those employees who assisted and contributed to its preparation.
Finally, appreciation is expressed to the Village President, Board of Trustees and the Village Manager for their leadership and support in planning and conducting the fiscal affairs of the Village.
Respectfully submitted,
Ronald J. Amen, CPA
Chief Financial Officer
Lauterbach and Amen, LLP
Citizens of Glenview
Village Board
Village Manager
Village
Manager’s
Office
Administrative
Services
Police Fire
Capital Projects
and
Inspectional
Services
Planning and
Economic
Development
Public Works
FINANCIAL SECTION
INDEPENDENT AUDITORS' REPORT
(Continued)
INDEPENDENT AUDITORS' REPORT
We haveauditedtheaccompanyingfinancialstatements of thegovernmentalactivities,thebusiness-type
activities,thediscretelypresentedcomponentunit,eachmajorfund,andtheaggregateremainingfund
information of theVillage of Glenview,Illinois,as of andfortheyearendedDecember31,2011,which
collectivelycomprisetheVillage’sbasicfinancialstatements,as listed in thetable of contents.These
financialstatementsaretheresponsibility of theVillage of Glenview,Illinois'management.Our
responsibility is to expressopinions on thesefinancialstatementsbased on ouraudit.Theprioryear
summarizedcomparativeinformationhasbeenderivedfromtheVillage’sDecember31,2010financial
statementsand,in ourreportdatedJune27,2011,we expressedunqualifiedopinions on therespective
financialstatements of thegovernmentalactivities,eachmajorfundandtheaggregateremainingfund
information.
We conductedouraudit in accordancewithauditingstandardsgenerallyaccepted in theUnitedStates of
Americaandthestandardsapplicable to financialauditscontained in GovernmentAuditingStandards,
issuedbytheComptrollerGeneral of theUnitedStates.Thosestandardsrequirethat we planand
performtheaudit to obtainreasonableassuranceaboutwhetherthefinancialstatementsarefree of
materialmisstatement.An auditincludesexamining,on atestbasis,evidencesupportingtheamounts
anddisclosures in thefinancialstatements.An auditalsoincludesassessingtheaccountingprinciples
usedandsignificantestimatesmadebymanagement,as well as evaluatingtheoverallfinancialstatement
presentation. We believe that our audit provides a reasonable basis for our opinions.
In ouropinion,thefinancialstatementsreferred to abovepresentfairly,in allmaterialrespects,the
respectivefinancialposition of thegovernmentalactivities,thebusiness-typeactivities,thediscretely
presentedcomponentunit,eachmajorfund,andtheaggregateremainingfundinformation of theVillage
of Glenview,Illinois,as of December31,2011,andtherespectivechanges in financialpositionandthe
cashflows,whereapplicable,thereoffortheyearthenended in conformitywithaccountingprinciples
generally accepted in the United States of America.
The Honorable Village President and
Members of the Board of Trustees
Village of Glenview, Illinois
The Honorable Village President and
Members of the Board of Trustees
Village of Glenview, Illinois (Continued)
MILLER, COOPER & CO., LTD.
Certified Public Accountants
Deerfield, Illinois
June 14, 2012
Themanagement’sdiscussionandanalysis on pages3through20,andthebudgetarycomparison
information,pension-relatedinformation,andnotes to therequiredsupplementaryinformation on pages
101through108are not arequiredpart of thebasicfinancialstatementsbutaresupplementary
informationrequiredbyaccountingprinciplesgenerallyaccepted in theUnitedStates of America.We
haveappliedcertainlimitedprocedures,whichconsistedprincipally of inquiries of managementregarding
themethods of measurementandpresentation of therequiredsupplementaryinformation.However,we
did not audit the information and express no opinion on it.
Ourauditwasconductedforthepurpose of formingopinions on thefinancialstatementsthatcollectively
comprisetheVillage of Glenview,Illinois'basicfinancialstatements.Thecombiningandindividual
nonmajorfundfinancialstatementsandotherschedules,listed in thetable of contents as supplemental
informationandothersupplementalinformation,arepresentedforpurposes of additionalanalysisandare
not arequiredpart of thebasicfinancialstatements.Suchinformationhasbeensubjected to theauditing
proceduresapplied in theaudit of thebasicfinancialstatementsand,in ouropinion,is fairlystated in all
material respects in relation to the basic financial statements taken as a whole.
In accordancewith GovernmentAuditingStandards,we havealsoissuedourreportdatedJune14,2012
on ourconsideration of theVillage'sinternalcontroloverfinancialreportingandourtests of its
compliancewithcertainprovisions of laws,regulations,contractsandgrantagreements,andother
matters.Thepurpose of thatreport is to describethescope of ourtesting of internalcontroloverfinancial
reportingandcomplianceandtheresults of thattesting,and not to provide an opinion on theinternal
controloverfinancialreporting oron compliance.Thatreport is an integralpart of an auditperformed in
accordancewith GovernmentAuditingStandards andshouldbeconsidered in assessingtheresults of our
audit.
Theaccompanyingintroductoryandstatisticalsections,as listed in thetable of contents,arepresentedfor
purposes of additionalanalysisandare not arequiredpart of thebasicfinancialstatements.This
informationhas not beensubjected to theauditingproceduresapplied in theaudit of thebasicfinancial
statements and, accordingly, we express no opinion on them.
VILLAGE OF GLENVIEW, ILLINOIS
Management’s Discussion and Analysis
December 31, 2011
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Our discussion and analysis of the Village of Glenview’s financial performance provides an overview of the Village’s financial activities for the fiscal year ended December 31, 2011. Please read it in conjunction with the
transmittal letter, which begins on page ix and the Village’s basic financial statements, which begin on page 21.
FINANCIAL HIGHLIGHTS
The Village’s net assets increased primarily as a result of receiving a major governmental revenue
source on a timely basis coupled with a significant reduction in governmental expenses. Net assets of
governmental activities and business-type activities increased by $4,242,675, or 2.2% and 7,384,916, or 13.8%, respectively, resulting in total ending net assets for the year of $255,796,949.
During the year, government-wide revenues before transfers for the governmental and business-type
activities totaled $111,651,991, while expenses totaled $100,024,400, resulting in the increase in net
assets of $11,627,591.
The Village’s net assets totaled $255,796,949 on December 31, 2011, which includes $157,784,211 invested in capital assets, net of related debt, $23,711,651 subject to external restrictions, and
$74,301,087 unrestricted net assets that may be used to meet the ongoing obligations to citizens and
creditors.
The General Fund reported a surplus for the year of $2,140,542 which is a combination of $1,045,660 for operating results plus $1,094,882 for the transfer of 2011 beginning fund balances from two special revenue funds (Joint Dispatch Fund and Refuse and Recycling Fund). These two funds were
closed during the year in conjunction with the implementation of GASB 54 and their activity is now being recorded in the General Fund. The operating surplus encompasses higher than anticipated
increases in sales tax, income tax and the timely collection of property tax combined with savings
realized through the continued cost containment efforts by the Village. These positive results were offset by a $700,000 increase to the transfer to the Capital Projects Fund during the year.
USING THIS ANNUAL REPORT
This annual report consists of a series of financial statements. The Statement of Net Assets and the Statement of
Activities (on pages 21-24) provide information about the activities of the Village as a whole and present a longer-term view of the Village’s finances. Fund financial statements begin on page 25. For governmental
activities, these statements tell how these services were financed in the short term as well as what remains for
future spending. Fund financial statements also report the Village’s operations in more detail than the government-wide statements by providing information about the Village’s most significant funds. The remaining
statements provide financial information about fiduciary activities for which the Village acts solely as a trustee or
agent for the benefit of those outside of the government.
Government-Wide Financial Statements
The government-wide financial statements provide readers with a broad overview of the Village’s finances, in a
manner similar to a private-sector business. The government wide financial statements can be found on pages 21-
24 of this report.
VILLAGE OF GLENVIEW, ILLINOIS
Management’s Discussion and Analysis
December 31, 2011
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USING THIS ANNUAL REPORT – Continued
Government-Wide Financial Statements - Continued
The Statement of Net Assets reports information on all of the Village’s assets and liabilities, with the difference
between the two reported as net assets. Over time, increases or decreases in net assets may serve as a useful indicator of whether the financial position of the Village is improving or deteriorating. Consideration of other nonfinancial factors, such as changes in the Village’s property tax base and the condition of the Village’s
infrastructure, is needed to assess the overall health of the Village The Statement of Activities presents information showing how the government’s net assets changed during the
most recent fiscal year. All changes in net assets are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods (e.g., uncollected taxes and
earned but unused vacation leave).
Both of the government-wide financial statements distinguish functions of the Village that are principally
supported by taxes and intergovernmental revenues (governmental activities) from other functions that are intended to recover all or a significant portion of their costs through user fees and charges (business-type
activities). The governmental activities of the Village include general government, public works, public safety,
and development. The business-type activities of the Village include water and sanitary sewer operations, North Maine water and sanitary sewer operations, wholesale water operations, and commuter parking operations.
The Village includes one separate legal entity in its report. The Glenview Public Library is presented as a discretely presented component unit. Although legally separate, this “component unit” is important because the
Village is financially accountable for it. Financial information for the component unit is reported separately from
the financial information presented for the primary government itself.
Fund Financial Statements A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated
for specific activities or objectives. The Village, like other local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the funds of the Village can be divided into three categories: governmental funds, proprietary funds, and fiduciary funds.
Governmental Funds
Governmental funds are used to account for essentially the same functions reported as governmental activities in the government-wide financial statements. However, governmental fund financial statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of
the fiscal year. Such information may be useful in evaluating the Village’s near-term financing requirements. Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is
useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide financial statements. By doing so, readers may better understand the long-term impact of the government’s near-term financing decisions. Both the governmental funds balance
sheet and the governmental funds statement of revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate the comparison between governmental funds and governmental activities.
VILLAGE OF GLENVIEW, ILLINOIS
Management’s Discussion and Analysis
December 31, 2011
-5- .
USING THIS ANNUAL REPORT – Continued
Governmental Funds - Continued
The Village maintains sixteen individual governmental funds. Information is presented separately in the
governmental funds balance sheet and in the governmental funds statement of revenues, expenditures, and changes in fund balances for the General Fund, Special Tax Allocation Fund, Village Permanent Fund, The Glen Land Sales Fund and the General Obligation Taxable Bond Series of 2009E Fund, all of which are considered to
be major funds. Data from the other eleven governmental funds are combined into a single, aggregated presentation. Individual fund data for each of these nonmajor governmental funds is provided in the form of combining statements elsewhere in this report. During 2011, in conjunction with the implementation of GASB 54,
the Village closed seven of these sixteen Governmental Funds. Specifically, the Village closed the Refuse and Recycling Fund and the Joint Dispatch Fund and is now reporting those activities in the General Fund. Additionally, the Village closed the Glen Land Sales Fund, the Glen Redevelopment Fund, the Glen Caretaker
Fund and the Debt Service 2009E Fund and is reporting those activities in the Special Tax Allocation Fund. Lastly, the Village closed the 2006A Bond Projects Fund and is now reporting those activities in the Glen Capital
Projects Fund.
The Village adopts an annual budget for all of the governmental funds. Budgetary comparison schedules for all
budgeted funds have been provided to demonstrate compliance with this budget.
The basic governmental fund financial statements can be found on pages 25-30 of this report.
Proprietary Funds
The Village maintains two proprietary fund types: enterprise and internal service. Enterprise funds are used to
report the same functions presented as business-type activities in the government–wide financial statements. The Village utilizes enterprise funds to account for its water and sanitary sewer operations, North Maine water and
sanitary sewer operations, wholesale water operations, and commuter parking operations. Internal service funds are an accounting device used to accumulate and allocate costs internally among the Village’s various functions.
The Village uses internal service funds to account for its capital equipment replacement program, municipal equipment repair program, facilities replacement program and health insurance and risk management programs. These services predominantly benefit governmental rather than business-type functions, and therefore, have been
included within governmental activities in the government-wide financial statements.
Proprietary fund financial statements provide the same type of information as the government-wide financial
statements, only in more detail. The proprietary fund financial statements provide separate information for the Glenview Water Fund, the North Maine Water and Sewer Fund, and the Glenview Sanitary Sewer Fund, all of
which are considered to be major funds of the Village. Data from the other two proprietary funds are combined
into a single, aggregated presentation. Conversely, the internal service fund is presented in the proprietary fund financial statements in a single column. Individual fund data for the internal service funds is provided elsewhere
in this report.
The basic proprietary fund financial statements can be found on pages 31-40 of this report.
VILLAGE OF GLENVIEW, ILLINOIS
Management’s Discussion and Analysis
December 31, 2011
-6- .
USING THIS ANNUAL REPORT – Continued Fiduciary Funds
Fiduciary funds are used to account for resources held for the benefit of parties outside the government. Fiduciary
funds are not reflected in the government-wide financial statements because the resources of those funds are not
available to support the Village’s own programs. The accounting use for fiduciary funds is much like that used for proprietary funds. The basic fiduciary fund financial statements can be found on pages 41-42 of this report.
Notes to the Financial Statements
The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements. The notes to the financial statements can be found on pages 43-100 of this report.
Other Information
In addition to the basic financial statements and accompanying notes, this report also presents certain required supplementary information concerning the Village’s Illinois Municipal Retirement Fund, police and fire pension
funds, and other post-employment benefit employee pension obligations. The required supplementary information
also contains budget to actual comparison schedules for the General Fund and major special revenue funds. Required supplementary information can be found on pages 101-108 of this report. The combining statements
referred to earlier in connection with nonmajor governmental funds and internal service funds are presented
immediately following the required supplementary information on pensions. Combining and individual fund statements and schedules for the Village can be found on pages 109-178 of this report. Additionally, the
combining and individual fund statements for the component unit can be found on pages 179-201.
GOVERNMENT-WIDE FINANCIAL ANALYSIS Net assets may serve over time as a useful indicator of a government’s financial position. The following tables show that in the case of the Village of Glenview, assets exceeded liabilities by $255,796,949 at December 31,
2011, compared to $244,169,358 at December 31, 2010.
VILLAGE OF GLENVIEW, ILLINOIS
Management’s Discussion and Analysis
December 31, 2011
-7- .
GOVERNMENT-WIDE FINANCIAL ANALYSIS – Continued
A large portion of the Village’s net assets, $157,784,211 or 61.7%, reflects its investment in capital assets (for example, infrastructure, land, buildings and improvements, machinery, and equipment), less any related debt used
to acquire those assets that is still outstanding. The Village uses these capital assets to provide services to citizens;
consequently, these assets are not available for future spending. Although the Village’s investment in its capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt must be
provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities.
An additional portion, $23,711,651 or 9.3%, of the Village’s net assets represents resources that are subject to
external restrictions on how they may be used, including restrictions for future street improvements, debt service payments, public safety, and future capital development. The remaining 29.0%, or $74,301,087, represents unrestricted net assets and may be used to meet the government’s ongoing obligations to citizens and creditors.
At the end of the current fiscal year, the Village is able to report positive balances in all three categories of net assets, both for the government as a whole, as well as for its separate governmental and business-type activities.
The same situation held true for the previous fiscal year, as reflected in the table above.
2011 2010 2011 2010 2011 2010
Current and Other Assets $ 127,606,396 $ 131,401,621 $ 10,633,534 $ 8,221,389 $ 138,239,930 $ 139,623,010
Capital Assets 201,568,315 203,668,410 60,614,248 57,558,774 262,182,563 261,227,184
Total Assets 329,174,711 335,070,031 71,247,782 65,780,163 400,422,493 400,850,194
Long-Term Debt 101,750,302 112,000,832 5,097,736 6,108,372 106,848,038 118,109,204
Other Liabilities 32,567,676 32,455,141 5,209,830 6,116,491 37,777,506 38,571,632
Total Liabilities 134,317,978 144,455,973 10,307,566 12,224,863 144,625,544 156,680,836
Net Assets
Invested in Capital Assets,
Net of Related Debt 102,217,913 93,936,562 55,566,298 51,450,402 157,784,211 145,386,964
Restricted 23,711,651 29,923,363 - - 23,711,651 29,923,363
Unrestricted 68,927,169 66,754,133 5,373,918 2,104,898 74,301,087 68,859,031
Total Net Assets $ 194,856,733 $ 190,614,058 $ 60,940,216 $ 53,555,300 $ 255,796,949 $ 244,169,358
Net Assets
Total
Governmental
Activities
Business-type
Activities
VILLAGE OF GLENVIEW, ILLINOIS
Management’s Discussion and Analysis
December 31, 2011
-8- .
GOVERNMENT-WIDE FINANCIAL ANALYSIS – Continued Normal Impacts
There are six basic (normal) transactions that will affect the comparability of the Statement of Net Assets
summary presentation:
1) Net Results of Activities – which will impact (increase/decrease) current assets and unrestricted net
assets.
2) Borrowing for Capital – which will increase current assets and long-term debt outstanding.
3) Spending Borrowed Proceeds on New Capital – which will reduce current assets and increase capital assets. There is a second impact, an increase in invested in capital assets and an increase in
related net debt, which will not change the investment in capital assets, net of related debt total.
4) Spending Nonborrowed Current Assets on New Capital – which will (a) reduce current assets and
increase capital assets and (b) will reduce unrestricted net assets and increase investment in capital assets, net of related debt.
5) Principal Payment on Debt – which will (a) reduce current assets and reduce long-term debt and (b) reduce unrestricted net assets and increase investment in capital assets, net of related debt.
6) Reduction of Capital Assets through Depreciation – which will reduce capital assets and reduce investment in capital assets, net of related debt.
VILLAGE OF GLENVIEW, ILLINOIS
Management’s Discussion and Analysis
December 31, 2011
-9- .
201120102011201020112010
Revenues
Program Revenues
Charges for Services$11,065,323$13,270,809$22,868,295$21,155,312$33,933,618$34,426,121
Operating Grants/Contrib.1,832,8051,662,47927,854- 1,860,6591,662,479
Capital Grants/Contrib.2,439,6182,362,508- - 2,439,6182,362,508
General Revenues
Taxes
Property Taxes 40,146,63934,759,914- - 40,146,63934,759,914
Home Rule Sales Tax6,354,3946,177,391- - 6,354,3946,177,391
Telecommunication Taxes2,763,4692,547,946- - 2,763,4692,547,946
Utility Taxes 3,300,8503,373,568- - 3,300,8503,373,568
Other Taxes 838,358863,580- - 838,358863,580
Intergovernmental
Sales Tax 12,792,72312,336,353- - 12,792,72312,336,353
State Income Tax 3,823,3153,497,759- - 3,823,3153,497,759
Local Use Tax 655,076588,758- - 655,076588,758
Road and Bridge Tax 391,336296,062- - 391,336296,062
Property Replacement Tax214,898244,202- - 214,898244,202
Other 1,241,1901,155,484- - 1,241,1901,155,484
Other General Revenues 861,5621,690,09534,2865,611895,8481,695,706
Total Revenues 88,721,55684,826,90822,930,43521,160,923111,651,991105,987,831
Expenses
General Government 33,989,23032,335,971- - 33,989,23032,335,971
Public Works 8,581,36013,981,277- - 8,581,36013,981,277
Public Safety 25,769,09730,475,113- - 25,769,09730,475,113
Development 10,029,89012,198,120- - 10,029,89012,198,120
Interest on Long-Term Debt3,353,9134,085,152- - 3,353,9134,085,152
Water Services - - 8,795,4669,265,4078,795,4669,265,407
North Maine Water and Sewer - - 6,197,7526,267,8806,197,7526,267,880
Sanitary Sewerage - - 1,801,4541,948,3571,801,4541,948,357
Wholesale Water - - 1,119,9941,083,2061,119,9941,083,206
Commuter Parking - - 386,244383,196386,244383,196
Total Expenses 81,723,49093,075,63318,300,91018,948,046100,024,400112,023,679
Change in Net Assets
Before Transfers 6,998,066(8,248,725)4,629,5252,212,87711,627,591(6,035,848)
Transfers (2,755,391)1,777,0042,755,391(1,723,932)- 53,072
Change in Net Assets 4,242,675(6,471,721)7,384,916488,94511,627,591(5,982,776)
Net Assets-Beginning 190,614,058197,085,77953,555,30053,066,355244,169,358250,152,134
Net Assets-Ending $194,856,733$190,614,058$60,940,216$53,555,300$255,796,949$244,169,358
Changes in Net Assets
Total
Governmental
Activities
Business-Type
Activities
VILLAGE OF GLENVIEW, ILLINOIS
Management’s Discussion and Analysis
December 31, 2011
-10- .
GOVERNMENT-WIDE FINANCIAL ANALYSIS – Continued
Normal Impacts
There are eight basic (normal) impacts on revenues and expenses as reflected below:
Revenues:
1) Economic Condition – which can reflect a declining, stable, or growing economic environment and has a substantial impact on state income, sales, and utility tax revenue as well as public spending habits for building permits, elective user fees, and levels of consumption.
2) Increase/Decrease in Village-Approved Rates – while certain tax rates are set by statute, the Village Board has significant authority to impose and periodically increase/decrease rates (property
taxes, water, sewer, impact fees, building fees, home rule sales tax, etc.).
3) Changing Patterns in Intergovernmental and Grant Revenue (both Recurring and Nonrecurring) –
certain recurring revenues (state-shared revenues, etc.) may experience significant changes periodically, while nonrecurring (or one-time) grants are less predictable and often distorting due to
their impact on year-to-year comparisons.
4) Market Impacts on Investment Income – the Village’s investment policy is managed using a similar
average maturity to most governments. Market conditions may cause investment income to fluctuate.
Expenses:
5) Introduction of New Programs – within the functional expense categories (general government, public works, public safety, etc.), individual programs may be added or deleted to meet changing
community needs.
6) Change in Authorized Personnel – changes in service demand may cause the Village Board to
increase/decrease authorized staffing. Personnel costs (salary and related benefits) represent approximately 62.2% of the Village’s General Fund expenditures and approximately 16.6% of enterprise operating costs at December 31, 2011.
7) Salary Increases (Annual Adjustments and Merit) – the ability to attract and retain human and
intellectual resources requires the Village to strive to approach a competitive salary range position in
the marketplace.
8) Inflation – while overall inflation appears to be reasonably modest, the Village is a major consumer
of certain commodities such as supplies, fuels, and parts. Some functions may experience unusual commodity-specific increases.
VILLAGE OF GLENVIEW, ILLINOIS
Management’s Discussion and Analysis
December 31, 2011
-11- .
GOVERNMENT-WIDE FINANCIAL ANALYSIS – Continued Net assets of the Village’s governmental activities increased by 2.2%, or $4,242,675 ($194,856,733 in 2011
compared to $190,614,058, in 2010). In 2010, the net assets decreased for governmental activities by $6,471,721. Unrestricted net assets, the part of net assets that can be used to finance day-to-day operations without constraints,
totaled $68,927,169 at December 31, 2011, an increase of $2,173,036 from 2010. Net assets of business-type activities increased by 13.8%, or $7,384,916 ($60,940,216 in 2011 compared to $53,555,300 in 2010). In 2010, the net assets increased for business-type activities by $488,945. Unrestricted net assets totaled $5,373,918 at
December 31, 2011, an increase of $3,269,020.
Governmental Activities
Revenues:
Revenues for governmental activities totaled $88,721,556 at December 31, 2011 and $84,826,908 at December 31, 2010, an increase of $3,894,648. Some key changes during the year for the governmental activity revenues are
described below:
Charges for Services Revenues in Public Safety decreased $149,215, or 2.8% primarily because of a
reduction in the revenue received from the Glenbrook Fire Protection District of $129,259, or 4.9%.
Charges for Services Revenues in Development activity decreased $1,978,732, or 49.5% due primarily to a drop in licenses and permits revenue of approximately $1,332,000 which includes a drop in building permits of $1,100,000. The major reason for this decline is the one time building
permit revenue of approximately $1,500,000 received for the Astellas development project in 2010.
Property Taxes increased 15.5%, or $5,386,725, primarily as a result of the Special Tax Allocation
Fund receiving the incremental property tax distributions from the County in a more timely manner in than in 2010.
Home Rule Sales Tax increased from $6,177,391 at December 31, 2010 to $6,354,394 at December
31, 2011, reflecting a 2.9% increase due to the general increase in the retail sales during the year.
Intergovernmental taxes increased $999,920, or 5.5%, which included an increase in Sales Tax of
$456,370 and an increase in Income Tax of $325,556. The increase in Sales Tax is due to the general increase in retail sales during the year while the Income Tax increase is the result of a one-time
adjustment in the accounting method used for this revenue source.
VILLAGE OF GLENVIEW, ILLINOIS
Management’s Discussion and Analysis
December 31, 2011
-12- .
GOVERNMENT-WIDE FINANCIAL ANALYSIS – Continued
Governmental Activities – Continued
Revenues – Continued
The following table graphically depicts the major revenue sources of the Village. It depicts very clearly the reliance of property taxes and sales taxes to fund governmental activities. It also clearly identifies the less
significant percentage the Village receives from income taxes, telecommunication taxes, and utility taxes.
VILLAGE OF GLENVIEW, ILLINOIS
Management’s Discussion and Analysis
December 31, 2011
-13- .
GOVERNMENT-WIDE FINANCIAL ANALYSIS – Continued
Governmental Activities – Continued
For the year ended December 31, 2011, governmental activities expenses totaled $81,723,490, a decrease of
$11,352,143, or 12.2%. A portion of this decrease was due to large one-time expenses of approximately $6,000,000 incurred in 2010 that were not incurred in 2011. Specifically, in 2010 the Village incurred approximately $5,000,000 for the transfer of land to the component unit in conjunction with the construction of
the new library building coupled with the Village incurring approximately $1,000,000 within commodities for the purchase of recycling and refuse carts for residents. Additionally, the Village incurred approximately $1,500,000 more in development expenses through contributions to the component unit in 2010 than it did in 2011. These
contributions in 2010 were for the combination of contributions towards the new library building plus a contribution for a relief in the library debt service obligation. In 2011 the Village did not incur the new building expense and had a reduction in the amount for the debt service contribution. Another contributing factor is the
reduction in the net expenses for the Internal Service funds of nearly $3,000,000 from 2010 to 2011.
The ‘Expenses and Program Revenues’ table identifies those governmental functions where program expenses
exceed revenues. These deficits are expected due to the fact that the governmental functions are primarily support by general revenues (for instance property taxes and sales taxes) rather than the program revenues.
VILLAGE OF GLENVIEW, ILLINOIS
Management’s Discussion and Analysis
December 31, 2011
-14- .
GOVERNMENT-WIDE FINANCIAL ANALYSIS – Continued Business-Type activities
Business-Type activities posted total revenues of $22,930,435, while the cost of all business-type activities totaled
$18,300,910. This results in a surplus of $4,629,525 prior to net transfers in of $2,755,391. In 2010, revenues of $21,160,923 exceeded expenses of $18,948,046, resulting in a surplus of $2,212,877 prior to net transfers out of $1,723,932.
Revenues
For the fiscal year ended December 31, 2011, revenues for the business-type activities totaled $22,930,435, an increase of $1,769,512, or 8.4%, due primarily to increased charges for services ($22,868,295 in 2011 compared to $21,155,312 in 2010).
Expenses
Expenses for the year ended December 31, 2011 totaled $18,300,910, a decrease of $674,864, or 3.6%, primarily as a result of a combined decrease of $862,699 in operational expenses in the Enterprise Funds of Glenview
Water Fund, North Maine Water and Sewer Fund and Glenview Sanitary Sewer Fund. This decrease is offset by
a minor increase of $47,252 in operational expenses in the Wholesale Water Fund and the Commuter Parking Fund coupled with an increase in business-type nonoperating expenses of $140,583.
VILLAGE OF GLENVIEW, ILLINOIS
Management’s Discussion and Analysis
December 31, 2011
-15- .
FINANCIAL ANALYSIS OF THE GOVERNMENT’S FUNDS As noted earlier, the Village uses fund accounting to ensure and demonstrate compliance with finance-related
legal requirements. Governmental Funds The focus of the Village’s governmental funds is to provide information on near-term inflows, outflows, and
balances of spendable resources. In particular, unreserved fund balance may serve as a useful measure of a government’s net resources available for spending at the end of the fiscal year.
The Village’s governmental funds reported combining ending fund balances of $76,475,826, which is $4,489,906, or 5.5%, lower than last year’s total of $80,965,732. Of the $76,475,826 total, $24,086,602, or approximately 31.5%, of the fund balance constitutes unassigned fund balance.
General Fund
The General Fund reported a surplus for the year of $2,140,542, an increase of 9.7%. a portion of which was the positive result of operations and a portion was due to the implementation of GASB 54 and the resulting transfer in
of 2011 beginning fund balances from two special revenue funds (Joint Dispatch Fund and Refuse and Recycling
Fund). As previously discussed, the surplus as a result of operations was primarily the effect of receiving higher than anticipated sales tax, income tax and property tax revenues combined with reduced expenditures as a result
of cost containment efforts and some expenditures that were not incurred or delayed. Specifically, total
expenditures were $2,117,121 lower than budget.
The General Fund is the chief operating fund of the Village. At December 31, 2011, unassigned fund balance in
the General Fund was $24,086,602, which represents 99.5% of the total fund balance of the General Fund. As a measure of the General Fund’s liquidity, it is useful to compare unassigned fund balance to total fund
expenditures. Unassigned fund balance in the General Fund represents approximately 44.9% of total General Fund expenditures (including transfers).
Other Major Funds
The Special Tax Allocation Fund is used to account for the incremental property tax revenue that is generated
through the growth of the assessed valuation at The Glen, (formally referred to as Glenview Naval Air Station) and the ‘Make-Whole’ payments to core jurisdictions within the boundaries of the Tax Increment Financing
District. The core jurisdictions consist of: the Village of Glenview, School District 34, School District 225, the
Glenview Park District, and the Glenview Public Library, a discretely presented component unit of the Village. This fund also accounts for the service and incentive fees within the Tax Increment Financing District. At
December 31, 2011 the Special Tax Allocation Fund reported revenues in excess of expenditures by $11,569,380,
most of which represents the transfer in of the beginning fund balances of four funds (Glen Land Sales Fund, the Glen Redevelopment Fund, the Glen Caretaker Fund and the Debt Service 2009E Fund). These funds were
closed in 2011 in conjunction with the implementation of GASB 54 and the activities that were previously
recorded in those funds is now being reported in the Special Tax Allocation Fund.
VILLAGE OF GLENVIEW, ILLINOIS
Management’s Discussion and Analysis
December 31, 2011
-16- .
FINANCIAL ANALYSIS OF THE GOVERNMENT’S FUNDS – Continued
Governmental Funds – Continued
Other Major Funds – Continued
The Village Permanent Fund, reported as a capital projects fund, was formed from 20% of the land sales proceeds of The Glen. Ongoing, the resources are used for Village-wide improvements as well as short-term liquidity for
the Villlage’s Tax Increment Financing (TIF) projects at The Glen. For the year ended December 31, 2011 the Village Permanent Fund reported expenditures in excess of revenues by $5,452,963, primarily the result of a budgeted transfer to the Capital Projects Fund of $4,629,035 for capital projects including storm water capital
projects and a development expenditure totaling $983,557 for a contribution to the Library. The majority of the contribution to the Library was to lower the required levy for the second year of debt service obligations on the bonds issued for the new Library Building.
The Glen Land Sales Fund, also reported as a capital projects fund, was closed in 2011 and the beginning fund
balance of $10,057,895 was transferred to the Special Tax Allocation Fund. The activities that were previously
recorded in this fund, accounting for the resources and expenditures related to the sale of properties in the Glen TIF District, will now be recorded in the Special Tax Allocation Fund.
The General Obligation Taxable Bond Series of 2009E Fund was also closed in 2011 and the beginning fund balance of $1,404 was transferred to the Special Tax Allocation Fund. The activities that were previously
recorded in this fund, accounting for the monies collected and paid for the Series 2009E taxable bonds, will now
be recorded in the Special Tax Allocation Fund. Proprietary Funds
The Village’s proprietary funds provide the same type of information found in the government-wide financial
statements, but in more detail. The Village reports the Glenview Water, the North Maine Water and Sewer, and the Glenview Sanitary Sewer
Funds as major proprietary funds. The Village also reports two nonmajor proprietary funds, the Wholesale Water Fund and the Commuter Parking Fund. The Glenview Water Fund accounts for the provision of water services to the property owners in the Village. The North Maine Water Fund accounts for the provision of water and sewer
services to the property owners in an unincorporated area southwest of the Village. The Glenview Sanitary Sewer Fund accounts for the provision of sanitary sewer services to property owners in both incorporated and
unincorporated areas of the Village.
The Village purchases Lake Michigan water from neighboring Wilmette. The spread between purchase and sale
rates is intended to finance the operations of the utility system, including labor costs, supplies, and infrastructure
maintenance.
The surplus in the Glenview Water Fund during the current fiscal year was $1,874,179, while the previous fiscal
year reported a deficit of $566,724. The surplus in this fund is the result of management and staff continuing to review all revenue and expense components of the Water Fund. Charges for sales and services of $9,513,470
were $646,012, or 7.3%, higher than last year while operating expenses were $600,668, or 6.5%, lower than last
year. There were no transfers out to other funds while there was a total of $342,059 in transfers out last year. Unrestricted net assets in the Glenview Water Fund totaled $2,491,705 at December 31, 2011.
VILLAGE OF GLENVIEW, ILLINOIS
Management’s Discussion and Analysis
December 31, 2011
-17- .
FINANCIAL ANALYSIS OF THE GOVERNMENT’S FUNDS – Continued
Proprietary Funds – Continued
The North Maine Water and Sewer Fund reported a surplus for the current year of $1,929,840 and also reported a
surplus in the prior year of $428,107. The majority of the current year surplus is due to the lower than anticipated water purchase costs during the year. Operating revenues of $8,120,035 were $646,362 higher than last year and operating expenses of $5,986,834 were $35,210 lower than last year. Total net assets at December 31, 2011 were
$4,110,449. The surplus in the current year in the Glenview Sanitary Sewer Fund was $2,074,968, resulting in ending net
assets of $16,163,320. In the prior year the Glenview Sanitary Sewer Fund also reported a surplus of $136,977. The current year surplus was due in large part to the transfer in of $1,415,723 which represented a sanitary sewer capital asset that was accounted for in the Capital Projects Fund.
GENERAL FUND BUDGETARY HIGHLIGHTS
During 2011 the Village Board approved three budget amendments to the General Fund. The first amendment was for an increase totaling $531,660 to personnel services, contractual services, commodities, other charges and
internal service charges for the combined costs of a February 2011 blizzard experienced in the Village. The
Village was declared a disaster area and due to the magnitude of the storm, expenditures increased unexpectedly due to overtime, additional contractor assistance and equipment and fuel costs. The second budget amendment
totaling $950,000 in the Transfer to the Capital Projects Fund was for the additional expenditure of resurfacing
Glenview Road. This transfer was a management decision to use accumulated General Fund fund balance available as a result of a surplus experienced in 2010. The third budget amendment totaling $1,914,531 was a
combination of a decrease in transfers out of $1,370,000 and an increase to operating expenditures of $3,284,531.
This budget amendment was necessary as the Village implemented GASB 54 which required the closing of two special revenue funds (Joint Dispatch Fund and Refuse and Recycling Fund) and recording the activities of those
funds in the General Fund on an ongoing basis. As the original 2011 budget did not include these special revenue funds expenditures, a budget amendment was required. This third budget amendment also included an amendment to the General Fund Revenues totaling $2,043,666 to account for the increased revenue activity of the
Joint Dispatch Fund and the Refuse and Recycling Fund now reported in the General Fund. The General Fund actual revenues for the year totaled $54,009,837 compared to budgeted revenues of
$52,636,611, an overage of $1,373,226. The excess of actual revenues over budgeted revenues is due to an increase in several revenue sources. Specifically, sales tax revenue was $481,000 higher than budget as the sales
tax revenues have begun to show a slow recovery from the 2008/2009 recession. Additionally, income tax
revenue was $379,000 higher than budget of which $305,000 was due to a one-time adjustment in the accounting method used for this revenue source. Another component of the overage was the $149,000 FEMA reimbursement
received during the year for the costs incurred during February 2011 blizzard. Lastly, use tax revenue was
$166,000 over budget due to a state amnesty initiative to collect back use tax. These positive increases were slightly offset by a decrease in intergovernmental revenue received from the Glenbrook Fire Protection District of
$208,000. This decrease is due to the fact that their revenue is based on their Equalized Assessed Valuation
(EAV) and their EAV has declined to a lower level than the assumption used for the budgeted projection.
VILLAGE OF GLENVIEW, ILLINOIS
Management’s Discussion and Analysis
December 31, 2011
-18- .
FINANCIAL ANALYSIS OF THE GOVERNMENT’S FUNDS – Continued
GENERAL FUND BUDGETARY HIGHLIGHTS - Continued
The General Fund actual expenditures for the year of $49,611,950 were $2,117,121 lower than budgeted
expenditures of $51,729,071. Personnel costs were lower than budget by $433,000 due to reduced staffing levels
coupled with budgeted salary increases that were not paid. Contractual expenditures were $1,050,210 lower than budget due to a combination of budgeted expenditures either not incurred or delayed. Some of the expenditures
not incurred, such as snow and ice maintenance, vehicle maintenance and street sweeping were due to the very
mild weather experienced in November and December 2011. The commodities expenditures were $257,119 lower than budget mostly due to lower than anticipated gas and electricity expenditures incurred also due in part
to a very mild November and December. Other charges were $187,692 lower than budget due to unspent
contingency budget.
Final 2011
BudgetActual
Revenues
Taxes $23,918,751$23,918,751$24,122,058
Intergovernmental 20,717,32820,717,32821,907,633
Other 5,956,8668,000,5327,980,146
Total Revenues 50,592,94552,636,61154,009,837
Expenditures (47,912,880)(51,729,071)(49,611,950)
Transfers In 659,182659,1821,739,659
Transfers Out (4,628,300)(4,208,300)(3,997,004)
Total Expenditures and Net Transfers(51,881,998)(55,278,189)(51,869,295)
Net Change in Fund Balance $(1,289,053)$(2,641,578)$2,140,542
General Fund Budgetary Highlights
Original
Budget
CAPITAL ASSETS AND DEBT ADMINISTRATION
Capital Assets The Village’s investment in capital assets for its governmental and business type activities as of December 31,
2011 was $262,182,563 (net of accumulated depreciation). This investment in capital assets includes land, buildings and improvements, machinery, equipment, and vehicles, water and sanitary sewer system
improvements, and other infrastructure improvements.
VILLAGE OF GLENVIEW, ILLINOIS
Management’s Discussion and Analysis
December 31, 2011
-19- .
CAPITAL ASSETS AND DEBT ADMINISTRATION - Continued
Capital Assets - Continued
201120102011201020112010
Construction in Progress$- $722,989$- $720,498$- $1,443,487
Land 6,935,6986,935,698802,851802,8517,738,5497,738,549
Land Right of Way 55,145,79155,143,868- - 55,145,79155,143,868
Buildings and Improvements58,954,02859,961,6551,935,068933,23760,889,09660,894,892
Machinery, Equipment and Vehicles 3,369,4123,696,245606,660682,2033,976,0724,378,448
Infrastructure 77,163,38677,207,955- - 77,163,38677,207,955
Water System - - 39,716,98139,066,48039,716,98139,066,480
Sanitary Sewer System - - 17,552,68815,353,50517,552,68815,353,505
Total $201,568,315$203,668,410$60,614,248$57,558,774$262,182,563$261,227,184
Capital Assets - Net of Depreciation
Total
Business-typeGovernmental
Activities Activities
This year’s major additions included:
Building and improvements $1,719,191
Infrastructure, including roadways, etc.2,742,186
Sanitary sewer system 2,716,570
Water System 1,864,841
Total $9,042,788
Additions
Additional information on the Village’s capital assets can be found in Note D on pages 64-67 of this report.
VILLAGE OF GLENVIEW, ILLINOIS
Management’s Discussion and Analysis
December 31, 2011
-20- .
CAPITAL ASSETS AND DEBT ADMINISTRATION - Continued Debt Administration
At year-end, the Village had total outstanding debt of $104,370,273 as compared to $115,409,796 the previous
year, a decrease of $11,039,523, or 9.6% which included a redemption of Series 2001 General Obligation Bonds during the year coupled with principal retirements that reduced the outstanding liability on the bonds. The following is a comparative statement of outstanding debt:
201120102011201020112010
General Obligation Bonds$99,115,000$109,125,000$3,860,000$4,750,000$102,975,000$113,875,000
Corporate Purpose Notes - - 1,395,2731,534,7961,395,2731,534,796
Total $99,115,000$109,125,000$5,255,273$6,284,796$104,370,273$115,409,796
Long-Term Debt Outstanding
Total
Business-typeGovernmental
Activities Activities
The Village maintains an Aaa rating from Moody’s for general obligation debt. This rating has not changed in the
past seven years. As the Village is a home rule community, there is no legal limit for outstanding debt. Additional information on the Village’s long-term debt can be found in Note F on pages 70-77 of this report.
ECONOMIC FACTORS AND NEXT YEAR’S BUDGET AND RATES
The Village’s elected and appointed officials considered many factors when setting the fiscal-year 2012 budget, tax rates, and fees that will be charged for its governmental and business-type activities. One of those factors is the economy. While some economic indicators are pointing to a slow recovery out of the 2008/2009 recession,
unemployment rates for the Village continued to stay high at 6.8% for 2011 and interest rates have remained very
low. Also, as stated earlier the Village revenues have shown signs of stabilizing, but are still lower than 2008 levels. All of these indicators were taken into account when adopting the budget for 2012. At the time of
preparing the 2012 budget, it was projected that the Village would continue to experience little or no growth in revenues. Expenditures continued to be trimmed to the fullest extent possible without impacting core services provided. Plans for beyond 2012 are also being analyzed to ensure the Village’s long term economic
sustainability. REQUESTS FOR INFORMATION
This financial report is designed to provide a general overview of the Village of Glenview’s finances for all those
with an interest in the government’s finances. Questions concerning any of the information provided in this report
or requests for additional information should be directed to the Administrative Services Department, Village of Glenview, 1225 Waukegan Road, Glenview, Illinois 60025.
BASIC FINANCIAL STATEMENTS
Component
Unit
Total
GovernmentalBusiness-TypePrimaryGlenview
ActivitiesActivitiesGovernmentLibrary
ASSETS
Cash and cash equivalents$19,197,790 $6,106,118 $25,303,908 $3,143,502
Investments 49,668,829 4,583,068 54,251,897 1,335,207
Receivables, net of allowances
Taxes 18,348,850 - 18,348,850 7,010,375
Accounts 65,213 3,502,931 3,568,144 -
Other 2,283,377 34,074 2,317,451 -
Prepaid expenses 172,910 - 172,910 -
Inventory 399,371 59,413 458,784 -
Land held for resale 30,391,262 - 30,391,262 -
Internal balances - advances 3,684,298 (3,684,298) - -
Due from other governments 94,002 4,167 98,169 -
Total current assets 124,305,902 10,605,473 134,911,375 11,489,084
Noncurrent assets
Deferred charges 201,804 28,061 229,865 -
Due from agency funds 22,628 - 22,628 -
Net pension asset 3,076,062 - 3,076,062 -
Capital assets
Not being depreciated 62,081,489 802,851 62,884,340 5,426,987
Net of accumulated
depreciation 139,486,826 59,811,397 199,298,223 28,345,581
Total noncurrent assets204,868,809 60,642,309 265,511,118 33,772,568
Total assets 329,174,711 71,247,782 400,422,493 45,261,652
(Continued)
The accompanying notes are an integral part of this statement.
Primary Government
Village of Glenview, Illinois
Statement of Net Assets
December 31, 2011
-21-
Component
Unit
Total
GovernmentalBusiness-TypePrimaryGlenview
ActivitiesActivitiesGovernmentLibrary
LIABILITIES
Accounts payable $17,092,583 $5,167,113 $22,259,696 $392,842
Accrued payroll 345,955 7,489 353,444 54,226
Accrued interest payable 277,602 35,228 312,830 659
Claims payable 3,188,986 - 3,188,986 -
Other payables 586,483 - 586,483 -
Unearned revenues 11,011,917 - 11,011,917 6,916,315
Due to pension trusts 64,150 - 64,150 -
Current portion of long-term
liabilities 10,616,604 1,066,376 11,682,980 1,095,469
Total current liabilities 43,184,280 6,276,206 49,460,486 8,459,511
Noncurrent liabilities
Long-term liabilities -
due in more than one year91,133,698 4,031,360 95,165,058 23,976,878
Total noncurrent liabilities91,133,698 4,031,360 95,165,058 23,976,878
Total liabilities 134,317,978 10,307,566 144,625,544 32,436,389
NET ASSETS
Invested in capital assets, net
of related debt 102,217,913 55,566,298 157,784,211 8,952,568
Restricted
Street improvements 952,726 - 952,726 -
Debt service - - - 48,053
Public safety 360,811 - 360,811 -
Capital development 22,398,114 - 22,398,114 -
Gifts - - - 253,580
Culture and recreation - - - 612,979
Unrestricted 68,927,169 5,373,918 74,301,087 2,958,083
Total net assets $194,856,733 $60,940,216 $255,796,949 $12,825,263
(Concluded)
The accompanying notes are an integral part of this statement.
Statement of Net Assets (Continued)
December 31, 2011
Primary Government
Village of Glenview, Illinois
-22-
Operating
Charges for Grants and
Functions/Programs Expenses Services Contributions
Primary government
Governmental activities
General government $33,989,230 $3,854,148 $-
Public works 8,581,360 - 1,812,805
Public safety 25,769,097 5,195,936 20,000
Development 10,029,890 2,015,239 -
Interest 3,353,913 - -
Total governmental activities 81,723,490 11,065,323 1,832,805
Business-type activities
Water services 8,795,466 9,751,605 27,854
North Maine Water and Sewer 6,197,752 8,120,035 -
Sanitary sewerage 1,801,454 2,314,028 -
Wholesale water 1,119,994 2,156,636 -
Commuter parking 386,244 525,991 -
Total business-type activities 18,300,910 22,868,295 27,854
Total primary government$100,024,400 $33,933,618 $1,860,659
Component unit - Public Library $8,864,899$152,884 $1,025,871
General revenues
Taxes
Property
Home rule sales
Telecommunication
Utility
Other
Intergovernmental revenues - unrestricted
Taxes
Sales
Income
Other taxes
Investment income
Miscellaneous
Transfers - internal activity
Total general revenues and transfers
Change in net assets
Net assets - beginning
Net assets - ending
The accompanying notes are an integral part of this statement.
Program Revenues
Village of Glenview, Illinois
Statement of Activities
For the Year Ended December 31, 2011
Primary Government
-23-
Component Unit
Capital Total
Grants and GovernmentalBusiness-type Primary Glenview
Contributions Activities Activities Government Library
$- $(30,135,082) $- $(30,135,082) $-
- (6,768,555) - (6,768,555) -
- (20,553,161) - (20,553,161) -
2,439,618 (5,575,033) - (5,575,033) -
- (3,353,913) - (3,353,913) -
2,439,618 (66,385,744) - (66,385,744) -
- - 983,993 983,993 -
- - 1,922,283 1,922,283 -
- - 512,574 512,574 -
- - 1,036,642 1,036,642 -
- - 139,747 139,747 -
- - 4,595,239 4,595,239 -
$2,439,618 (66,385,744) 4,595,239 (61,790,505) -
$- - - - (7,686,144)
40,146,639 - 40,146,639 6,757,370
6,354,394 - 6,354,394 -
2,763,469 - 2,763,469 -
3,300,850 - 3,300,850 -
838,358 - 838,358 -
12,792,723 - 12,792,723 -
3,823,315 - 3,823,315 29,000
2,502,500 - 2,502,500 721,850
397,478 26,807 424,285 27,244
464,084 7,479 471,563 95,680
(2,755,391) 2,755,391 - -
70,628,419 2,789,677 73,418,096 7,631,144
4,242,675 7,384,916 11,627,591 (55,000)
190,614,058 53,555,300 244,169,358 12,880,263
$194,856,733$60,940,216$255,796,949$12,825,263
Net (Expense) Revenue and Changes in Net Assets
Primary Government
-24-
Special Village
General Tax Permanent
FundAllocation FundFund
Cash and cash equivalents $6,447,665 $4,763,602 $1,254,072
Investments 11,562,880 7,233,101 3,942,109
Receivables, net of allowances
Taxes 18,348,850 - -
Other 397,910 1,803,668 -
Prepaid items 13,600 75,725 -
Inventory 117,824 - -
Land held for resale - 23,891,262 6,500,000
Due from other funds 80,975 - -
Due from other governments - - -
Advance to other funds - - 18,906,516
Total assets $36,969,704 $37,767,358 $30,602,697
LIABILITIES AND FUND BALANCES
Accounts payable $1,362,421 $12,991,944 $-
Accrued payroll 343,773 - -
Other payables 99,355 - -
Due to other funds 63,600 - -
Due to pension trusts 64,150 - -
Unearned revenues 10,818,379 6,750 -
Advances from other funds - 15,199,590 -
Total liabilities 12,751,678 28,198,284 -
Fund balances
Nonspendable 131,424 - -
Restricted - 9,569,074 30,602,697
Unassigned 24,086,602 - -
Total fund balances 24,218,026 9,569,074 30,602,697
Total liabilities and fund balances$36,969,704 $37,767,358$30,602,697
The accompanying notes are an integral part of this statement.
ASSETS
Liabilities
Village of Glenview, Illinois
Governmental Funds
Balance Sheet
December 31, 2011
-25-
General
Obligation
TaxableNonmajor Total
Glen LandBond Series ofGovernmentalGovernmental
Sales Fund 2009E FundFunds Funds
$- $- $4,641,614 $17,106,953
- - 9,944,931 32,683,021
- - - 18,348,850
- - 32,723 2,234,301
- - - 89,325
- - - 117,824
- - - 30,391,262
- - 63,600 144,575
- - 94,002 94,002
- - - 18,906,516
$- $- $14,776,870 $120,116,629
$- $- $1,974,057 $16,328,422
- - - 343,773
- - 449,021 548,376
- - 80,975 144,575
- - - 64,150
- - 186,788 11,011,917
- - - 15,199,590
- - 2,690,841 43,640,803
- - - 131,424
- - 12,086,029 52,257,800
- - - 24,086,602
- - 12,086,029 76,475,826
$- $- $14,776,870$120,116,629
-26-
Total fund balances - governmental funds $76,475,826
Amounts reported for governmental activities in the Statement of Net Assets
are different because:
201,568,315
3,076,062
201,804
15,562,630
Compensated absences payable (1,483,022)
Net other postemployment benefit obligation payable (916,878)
General obligation bond payable, net of unamortized items (99,350,402)
Accrued interest payable (277,602)
Total long-term liabilities not reported
in governmental funds (102,027,904)
$194,856,733
The accompanying notes are an integral part of this statement.
Village of Glenview, Illinois
Reconciliation of the Balance Sheet - Governmental Funds
to the Statement of Net Assets
December 31, 2011
Net assets of governmental activities
Capitalassetsused in governmentalactivitiesare not financialresourcesand,therefore,
are not reported in the funds.
Unamortizedbondissuancecostsare not considered to representafinancialresourceand,
therefore, are not reported in the funds
Thenetpensionassetresultingfromcontributions in excess of theannualrequired
contribution is not a financial resource and, therefore, is not reported in the funds.
An internalservicefund is usedbytheVillage to chargethecosts of vehicleand
equipmentmanagementandinsurance to individualfunds.Theassetsandliabilities of the
internalservicefundsareincluded in governmentalactivities in theStatement of Net
Assets. Internal service fund net assets are:
Someliabilitiesreported in theStatement of NetAssets donot requiretheuse of current
financialresourcesand,therefore,are not reported as liabilities in governmentalfunds.
These liabilities consist of:
-27-
Special Tax Village
GeneralAllocationPermanent
Fund Fund Fund
Revenues
Taxes
Property taxes $10,864,987 $29,281,652 $-
Other taxes 13,257,071 - -
Licenses and permits 1,859,161 - -
Charges for services 5,868,744 17,180 156,000
Fines and forfeitures 181,361 - -
Intergovernmental 21,907,633 248,874 -
Investment income 67,220 132,149 150,969
Other revenues 3,660 176,503 -
Total revenues 54,009,837 29,856,358 306,969
Expenditures
Current
General government 13,673,525 17,479,494 -
Public works 7,883,609 - -
Public safety 25,605,994 - -
Development 2,448,822 - 983,557
Capital outlay - 8,694 -
Debt service
Bond issuance costs - 38,818 -
Principal - 8,945,000 -
Interest and fiscal charges - 2,903,359 -
Total expenditures 49,611,950 29,375,365 983,557
Excess (deficiency) of revenues
over expenditures 4,397,887 480,993 (676,588)
Other financing sources (uses)
Payment to bond escrow agent - (11,000,000) -
Issuance of bonds - 11,035,000 -
Transfers in 1,739,659 11,329,664 -
Transfers (out)(3,997,004) (276,277) (4,776,375)
Total other financing sources (uses)(2,257,345) 11,088,387 (4,776,375)
Net change in fund balance 2,140,542 11,569,380 (5,452,963)
Fund balances (deficit) - beginning 22,077,484 (2,000,306) 36,055,660
Fund balances - ending $24,218,026 $9,569,074 $30,602,697
The accompanying notes are an integral part of this statement.
Village of Glenview, Illinois
Governmental Funds
Statement of Revenues, Expenditures, and Changes in Fund Balances (Deficit)
For the Year Ended December 31, 2011
-28-
General
Obligation
Glen TaxableNonmajor Total
Land SalesBond Series ofGovernmentalGovernmental
Fund 2009E FundFunds Funds
$- $- $- $40,146,639
- - - 13,257,071
- - - 1,859,161
- - 69,251 6,111,175
- - - 181,361
- - 4,185,896 26,342,403
- - 47,140 397,478
- - 24,851 205,014
- - 4,327,138 88,500,302
- - - 31,153,019
- - - 7,883,609
- - 104,441 25,710,435
- - 860,841 4,293,220
- - 8,327,955 8,336,649
- - - 38,818
- - 1,106,617 10,051,617
- - 858,800 3,762,159
- - 11,258,654 91,229,526
- - (6,931,516) (2,729,224)
- - - (11,000,000)
- - - 11,035,000
- - 18,298,909 31,368,232
(10,057,895) (1,404) (14,054,959) (33,163,914)
(10,057,895) (1,404) 4,243,950 (1,760,682)
(10,057,895) (1,404) (2,687,566) (4,489,906)
10,057,895 1,404 14,773,595 80,965,732
$- $- $12,086,029 $76,475,826
-29-
Amounts reported for governmental activities in the statement of activities are different because:
Net change in fund balances - total governmental funds $(4,489,906)
Capital outlays $3,069,756
Depreciation expense (5,169,851)
Depreciation expense over capital outlays (2,100,095)
1,067,628
Reductions to compensated absences payable $99,717
Retirement of debt 21,045,000
Issuance of bonds (11,035,000)
Amortization of unamortized premium/discount 371,446
Amortization of unamortized bond issuance costs 4,705
Change in other postemployment benefits (230,633)
Net affect of long-term debt 10,255,235
36,800
(526,987)
Change in net assets of governmental activities $4,242,675
The accompanying notes are an integral part of this statement.
Village of Glenview, Illinois
For the Year Ended December 31, 2011
Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of
Governmental Funds to the Statement of Activities
InternalservicefundsareusedbytheVillage to chargethecost of vehicleand
equipmentmanagementandinsurance to individualfunds.Aportion of thenet
revenue of the internal service fund is reported with governmental activities.
Changes to accruedinterest on long-termdebt in theStatement of Activities
does not requiretheuse of currentfinancialresourcesand,therefore,are not
reported as expenditures in the governmental funds.
Theissuance of long-termdebtprovidescurrentfinancialresources to
governmentalfunds,whiletherepayment of theprincipal on long-termdebt
consumes the current financial resources of the governmental funds.
Anetpensionasset is considered to representafinancialresourceand,
therefore, is not reported in the funds.
Governmentalfundsreportcapitaloutlays as expenditureswhilegovernmental
activitiesreportdepreciationexpense to allocatethoseexpendituresoverthe
lives of the assets.
-30-
GlenviewNorth MaineGlenview
WaterWater andSanitary
FundSewer FundSewer Fund
ASSETS
Current assets
Cash and cash equivalents $498,179 $4,255,501 $409,682
Investments 1,618,055 1,452,274 833,132
Receivables
Accounts, net 1,401,737 1,167,704 618,712
Other 11,686 1,900 20,488
Interest - - -
Prepaid items - - -
Inventory 59,413 - -
Internal balances - advances - (3,684,298) -
Due from other governments - - -
Total current assets 3,589,070 3,193,081 1,882,014
Noncurrent assets
Deferred bond issuance costs 9,746 5,204 10,417
Capital assets, not being depreciated 67,851 235,000 -
Capital assets being depreciated - net 34,533,885 5,972,965 16,122,186
Total noncurrent assets 34,611,482 6,213,169 16,132,603
Total assets 38,200,552 9,406,250 18,014,617
The accompanying notes are an integral part of this statement.
Business-Type Activities
Village of Glenview, Illinois
Proprietary Funds
Statement of Net Assets
December 31, 2011
-31-
Governmental
Activities
NonmajorTotalInternal
EnterpriseEnterpriseService
Funds Funds Funds
$942,756 $6,106,118 $2,090,837
679,607 4,583,068 16,985,808
314,778 3,502,931 65,213
- 34,074 40,000
- - 9,076
- - 83,585
- 59,413 281,547
- (3,684,298) -
4,167 4,167 -
1,941,308 10,605,473 19,556,066
2,694 28,061 -
500,000 802,851 -
3,182,361 59,811,397 -
3,685,055 60,642,309 -
5,626,363 71,247,782 19,556,066
(Continued)
Business-Type Activities
-32-
GlenviewNorth MaineGlenview
WaterWater andSanitary
FundSewer FundSewer Fund
LIABILITIES
Current liabilities
Accounts payable $1,047,852 $3,431,677 $530,863
Accrued payroll 4,540 2,279 521
Accrued interest payable 4,933 25,697 3,876
Claims payable - - -
Current portion of long-term liabilities 317,957 281,419 242,000
Total current liabilities 1,375,282 3,741,072 777,260
Noncurrent liabilities
Long-term liabilities due in more than one year 1,406,786 1,554,729 1,074,037
Total noncurrent liabilities 1,406,786 1,554,729 1,074,037
Total liabilities 2,782,068 5,295,801 1,851,297
NET ASSETS
Invested in capital assets, net of related debt 32,926,779 4,371,817 14,806,149
Unrestricted 2,491,705 (261,368) 1,357,171
Total net assets $35,418,484 $4,110,449 $16,163,320
The accompanying notes are an integral part of this statement.
Village of Glenview, Illinois
Proprietary Funds
Statement of Net Assets (Continued)
December 31, 2011
Business-Type Activities
-33-
Governmental
Activities
NonmajorTotalInternal
EnterpriseEnterpriseService
Funds Funds Funds
$156,721 $5,167,113 $764,161
149 7,489 2,182
722 35,228 38,107
- - 3,188,986
220,808 1,062,184 -
378,400 6,272,014 3,993,436
- 4,035,552 -
- 4,035,552 -
378,400 10,307,566 3,993,436
3,461,553 55,566,298 -
1,786,410 5,373,918 15,562,630
$5,247,963 $60,940,216 $15,562,630
(Concluded)
Business-Type Activities
-34-
GlenviewNorth MaineGlenview
Water Water and Sanitary
Fund Sewer FundSewer Fund
Operating revenues
Charges for sales and services $9,513,470 $8,011,886 $2,307,006
Miscellaneous 238,135 108,149 7,022
Total operating revenues 9,751,605 8,120,035 2,314,028
Operating expenses
Operations
Insurance services - - -
Parking services - - -
Water services 7,462,168 - -
Sewerage services - - 1,258,106
North Maine water and sewer distribution - 5,788,267 -
Capital asset repair and replacement - - -
Depreciation and amortization 1,123,335 198,567 401,186
Total operating expenses 8,585,503 5,986,834 1,659,292
Operating income (loss)1,166,102 2,133,201 654,736
Nonoperating revenues (expenses)
Other income - - 7,479
Investment income 8,186 7,557 5,120
Loss on sale of capital assets (140,872) - (87,876)
Grant proceeds 27,854 - -
Interest and fiscal charges (69,091) (210,918) (54,286)
Total nonoperating
revenues (expenses)(173,923) (203,361) (129,563)
Income (loss) before transfers 992,179 1,929,840 525,173
Transfers in (out)
Transfers in 882,000 - 1,582,700
Transfers (out)- - (32,905)
Total transfers in (out)882,000 - 1,549,795
Change in net assets 1,874,179 1,929,840 2,074,968
Net assets - beginning 33,544,3052,180,60914,088,352
Net assets - ending $35,418,484$4,110,449$16,163,320
The accompanying notes are an integral part of this statement.
Business-Type Activities
Village of Glenview, Illinois
Proprietary Funds
Statement of Revenues, Expenses, and Changes in Net Assets
For the Year Ended December 31, 2011
-35-
Governmental
Activities
Nonmajor Total Internal
EnterpriseEnterprise Service
Funds Funds Funds
$2,673,027 $22,505,389 $10,524,135
9,600 362,906 241,241
2,682,627 22,868,295 10,765,376
- - 7,587,243
318,659 318,659 -
1,035,360 8,497,528 -
- 1,258,106 -
- 5,788,267 -
- - 3,282,501
135,495 1,858,583 -
1,489,514 17,721,143 10,869,744
1,193,113 5,147,152 (104,368)
- 7,479 62,808
5,944 26,807 396,573
- (228,748) -
- 27,854 -
(16,724) (351,019) -
(10,780) (517,627) 459,381
1,182,333 4,629,525 355,013
1,072,876 3,537,576 -
(749,280) (782,185) (882,000)
323,596 2,755,391 (882,000)
1,505,929 7,384,916 (526,987)
3,742,03453,555,300 16,089,617
$5,247,963$60,940,216$15,562,630
Business-Type Activities
-36-
GlenviewNorth MaineGlenview
WaterWater andSanitary
FundSewer FundSewer Fund
Cash flows in operating activities
Cash received from customers and users $9,653,833 $8,057,213 $2,283,343
Cash payments for goods and services (6,118,162) (1,911,376) (760,455)
Cash payments to employees (1,688,825) (966,438) (377,686)
Net cash provided by (used in) operating activities1,846,846 5,179,399 1,145,202
Cash flows in noncapital financing activities
Interfund receipts (disbursements)909,854 99,640 1,549,795
Net cash provided by (used in) in noncapital
financing activities 909,854 99,640 1,549,795
Cash flows in capital and related financing activities
Purchases and disposals of capital assets (1,534,584) (171,221) (2,359,030)
Principal payments (298,063) (241,459) (234,883)
Interest payments (69,965) (213,757) (54,972)
Net cash provided by (used in) capital and related
financing activities (1,902,612) (626,437) (2,648,885)
Cash flows in investing activities
Purchases of investments (1,302,840) (1,002,226) (501,481)
Interest received 8,186 7,557 5,120
Net cash used in investing activities (1,294,654) (994,669) (496,361)
Net increase (decrease) in cash and cash equivalents(440,566) 3,657,933 (450,249)
Cash and cash equivalents, beginning of year 938,745 597,568 859,931
Cash and cash equivalents, end of year $498,179 $4,255,501 $409,682
The accompanying notes are an integral part of this statement.
Village of Glenview, Illinois
Proprietary Funds
Statement of Cash Flows
For the Year Ended December 31, 2011
Business-Type Activities
-37-
Governmental
Activities
NonmajorTotal Internal
EnterpriseEnterpriseService
Funds Funds Fund
$2,541,669 $22,536,058 $10,678,117
(1,280,683) (10,070,676) (9,874,223)
(74,061) (3,107,010) (855,433)
1,186,925 9,358,372 (51,539)
323,596 2,882,885 (882,062)
323,596 2,882,885 (882,062)
(1,072,876) (5,137,711) -
(220,000) (994,405) 62,808
(17,403) (356,097) -
(1,310,279) (6,488,213) 62,808
(500,976) (3,307,523) (8,431,809)
5,944 26,807 408,594
(495,032) (3,280,716) (8,023,215)
(294,790) 2,472,328 (8,894,008)
1,237,546 3,633,790 10,984,845
$942,756 $6,106,118 $2,090,837
(Continued)
Business-Type Activities
-38-
GlenviewNorth MaineGlenview
WaterWater andSanitary
FundSewer FundSewer Fund
Reconciliation of operating income (loss) to net cash
provided by operating activities
Operating income (loss)$1,166,102 $2,133,201 $654,736
Adjustments to reconcile operating income (loss)
to net cash provided by operating activities
Depreciation and amortization 1,123,335 198,567 401,186
Nonoperating revenue - - 7,479
Accounts receivable (97,772) (62,822) (39,206)
Other receivable - - 1,042
Prepaid expense - - -
Inventory 15,525 - -
Accounts payable (339,943) 2,917,582 120,286
Accrued payroll (6,675) (7,129) (321)
Compensated absences (13,726) - -
Claims payable - - -
Unearned revenue - - -
Total changes in assets and liabilities (442,591) 2,847,631 81,801
Net cash provided by operating activities $1,846,846 $5,179,399 $1,145,202
The accompanying notes are an integral part of this statement.
For the Year Ended December 31, 2011
Village of Glenview, Illinois
Proprietary Funds
Statement of Cash Flows (Continued)
Business-Type Activities
-39-
Governmental
Activities
NonmajorTotal Internal
EnterpriseEnterpriseService
Funds Funds Fund
$1,193,113 $5,147,152 $(104,368)
135,495 1,858,583 -
- 7,479 -
(140,958) (340,758) (67,356)
- 1,042 -
- - (2,542)
- 15,525 (7,597)
(262) 2,697,663 165,056
(463) (14,588) (8,746)
- (13,726) -
- - (6,083)
- - (19,903)
(141,683) 2,345,158 52,829
$1,186,925 $9,358,372 $(51,539)
(Concluded)
Business-Type Activities
-40-
Fiduciary Funds
Statement of Fiduciary Net Assets
December 31, 2011
PensionAgency
Trust FundsFunds
ASSETS
Cash and cash equivalents $3,574,976 $642,497
Investments
U.S. government and agency obligations 53,428,004 3,785,575
Municipal obligations 1,231,575 -
Equity mutual funds 45,097,014 -
Receivables
Property taxes - 273,008
Accrued interest receivable 189,551 3,420
Due from primary government 64,150 -
Prepaid expenses 1,977 -
Total assets 103,587,247 4,704,500
LIABILITIES
Accounts payable - 45,543
Refundable deposits - 4,268,202
Accrued expenses 8,952 -
Advances from other funds - 22,628
Due to bond holders - 368,127
Total liabilities 8,952 $4,704,500
NET ASSETS
Held in trust for pension benefits $103,578,295
The accompanying notes are an integral part of this statement.
Village of Glenview, Illinois
-41-
Additions
Contributions
Employer $4,574,947
Participant 1,334,710
Total contributions 5,909,657
Investment income
Net appreciation in fair value of investments 1,355,109
Interest income 1,515,348
Less investment expense (205,271)
Net investment income 2,665,186
Total additions 8,574,843
Deductions
Retirement pensions 5,452,922
Widow pensions 492,604
Disability pensions 509,203
Contribution refunds 29,677
Total deductions 6,484,406
Change in net assets 2,090,437
Net assets held in trust for pension benefits
Beginning 101,487,858
Ending $103,578,295
The accompanying notes are an integral part of this statement.
Village of Glenview, Illinois
Pension Trust Funds
Statement of Changes in Plan Net Assets
For the Year Ended December 31, 2011
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Page
A.Summary of Significant Accounting Policies
1.Reporting Entity 46
2.Government-wide and Fund Financial Statements 47
3.Fund Accounting 48 - 50
4.Fund Balance 51
5.Measurement Focus, Basis of Accounting, and Financial Statement Presentation 52 - 54
6.Cash Equivalents 54
7.Investments 54
8.Receivables 55
9.Inventory 55
10.Unbilled Services 55
11.Capital Assets 55 - 56
12.Unearned Revenue 56
13.Accrued Vacation and Sick Leave (Compensated Absences)56
14.Long-Term Obligations 56 - 57
15.Capital Contributions 57
16.Interfund Transactions 57
17.Use of Estimates 58
18.Claims and Judgments 58
B.Deposits and Investments
1.Primary Government and Component Unit 60
2.Pension Trust Funds 61 - 62
C.Receivables
1.Property Tax Receivables 62
2.Taxes Receivable 63
3.Other Receivables 63
4.Due From Other Governments 63
D.Capital Assets
1.Governmental Activities 64
2.Business-type Activities 65
3.Depreciation Expense 66
4.Component Unit - Glenview Library 67
(Continued)
Village of Glenview, Illinois
Notes to Financial Statements
INDEX
December 31, 2011
-43-
Page
E.Risk Management
1.Self-Insurance 68
2.Intergovernmental Personnel Benefit Cooperative (IPBC)69
3.High-Level Excess Liability Pool (HELP)69
F.Long-Term Debt
1.Changes in Long-Term Liabilities 70 - 73
2.General Long-Term Debt 74 - 75
3.Debt Service Requirements to Maturity 76 - 77
4.Noncommitment Debt - Special Service Area Bonds 77
5.Compensated Absences and Other Postemployment Benefits 77
6.Revolving Line of Credit 77
G.Interfund Balances and Transfers
1.Interfund Balances 78
2.Due to/from Pension Trusts 78
3.Advances to/from Other Funds 79
4.Interfund Transfers
a.79 - 80
b.80
H.Contractual Commitments
1.High-Level Excess Liability Pool (HELP)80
2.Solid Waste Agency of Northern Cook County (SWANCC)81
3.Economic Development Agreement 81
4.Construction Commitments 81
I.Joint Ventures
1.High-Level Excess Liability Pool 81
2.81
(Continued)
Village of Glenview, Illinois
Notes to Financial Statements
INDEX (Continued)
December 31, 2011
Solid Waste Agency of Northern Cook County
Primary Government
Component Unit
-44-
Page
J.Employee Retirement Systems
1.Illinois Municipal Retirement Fund
a.Plan Description 82
b.Funding Policy 82
c.Annual Pension Costs 83
d.Funded Status and Funding Progress 83
2.Police Pension Fund
a.Plan Description 84 - 85
b.Summary of Significant Accounting Policies 85 - 87
c.Annual Pension Cost and Net Pension Benefit 88
d.Trend Information 88
3.Firefighters' Pension Fund
a.Plan Description 89 - 90
b.Summary of Significant Accounting Policies 90 - 92
c.Annual Pension Cost and Net Pension Benefit 93
d.Trend Information 93
4.Employee Retirement System - Defined Benefit Pension Plans 94
K.Other Postemployment Benefits (OPEB)
1.Plan Description 94
2.Funding Policy 95
3.Annual OPEB Cost and Net OPEB Obligation 95
4.Trend Information 96
5.Funding Policy and Actuarial Assumptions 96 - 97
6.Funding Status and Funding Progress 98
L.Pension Trust Funds - Financial Data
1.Schedule of Fiduciary Net Plan Assets as of December 31, 2011 98
2.Schedule of Changes in Fiduciary Net Plan Assets for the Year Ended December 31, 2011 99
M.Fund Balance Reporting 100
N.Contingencies
1.Grants 100
2.Litigation 100
O.Subsequent Event 100
(Concluded)
INDEX (Continued)
December 31, 2011
Village of Glenview, Illinois
Notes to Financial Statements
-45-
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
1.Reporting Entity
(a)
(b)Fiscal dependency on the primary government.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
TheVillage of Glenview,Illinois,("Village")wasincorporated in 1899.TheVillageoperatesunderaCouncil-Manager
form of governmentandprovidesserviceswhichinclude:policeandfiresafety,waterutility,sanitarysewerutility,
stormwater management, street maintenance, community development, and general administrative services.
The following is a summary of the Village's more significant accounting policies:
Thefinancialstatements of theVillagehavebeenprepared in conformitywithaccountingprinciplesgenerallyaccepted in
theUnitedStates of America(GAAP),as applied to governmentunits.TheGovernmentalAccountingStandardsBoard
(GASB) is the accepted standard setting body for establishing governmental accounting and financial reporting principles.
TheLibraryoperatesandmaintainsthepubliclibrarywithintheVillage.TheLibrary'sseven-memberboard is
separatelyelectedbythevoters of theVillageandannuallydeterminesitsbudgetandresultingtaxlevy,which is
leviedbytheVillage.TheLibrarymay not issuebondeddebt.Alldebt of theLibrary is securedbythefullfaithand
credit of the Village, which is wholly liable for the debt.
Separatefinancialstatementsaredisclosed in thecomponentunitportion of thisreport.TheLibrarydoes not issue
separate financial statements.
As definedbyaccountingprinciplesgenerallyaccepted in theUnitedStates of AmericaestablishedbyGASB,the
financialreportingentityconsists of theprimarygovernment,as well as itscomponentunits,whicharelegally
separateorganizationsforwhichtheelectedofficials of theprimarygovernmentarefinanciallyaccountable.Financial
accountability is defined as:
Appointment of avotingmajority of thecomponentunit'sboard,andeither(1)theability to imposewillbythe
primarygovernment,or (2)thepossibilitythatthecomponentunitwillprovideafinancialbenefit to or impose
a financial burden on the primary government; or
Based on theabovecriteria,theGlenviewLibrary("Library")is acomponentunit to theVillage of Glenview.In the
government-widefinancialstatements,theLibrary is presented in aseparatecolumn to emphasizethat itis legally
separate from the Village.
-46-
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
2.Government-wide and Fund Financial Statements
Restricted net assets reported in the statement of net assets by function are also restricted by enabling legislation.
Invested in capitalassets,netofrelateddebt consists of capitalassets,net of accumulateddepreciationand
reducedbyoutstandingbalancesforbondsandotherdebtthatareattributable to theacquisition,construction,or
improvement of those assets.
Restrictednetassets resultwhenconstraintsareplaced on netassetuse,eitherexternallyimposedbycreditors,
grantors, contributors, and the like, or imposed by law through constitutional provisions or enabling legislation.
Separatefinancialstatementsareprovidedforgovernmentalfunds,proprietaryfunds,andfiduciaryfunds,even
thoughthelatterareexcludedfromthegovernment-widefinancialstatements.Majorindividualgovernmentaland
business-typefundsarereported as separatecolumns in thefundfinancialstatements.Nonmajorfundsdetailare
reported in the supplementary information.
TheVillagefirstappliesrestrictedresourceswhen an expense is incurredforpurposesforwhichbothrestrictedand
unrestricted net assets are available.
Thestatement of netassetspresentstheVillage'snon-fiduciaryassetsandliabilitieswiththedifferencereported in
three categories:
Thegovernment-widefinancialstatements(i.e.,thestatement of netassetsandthestatement of activities)report
information on all of thenonfiduciaryactivities of theVillage.Forthemostpart,theeffect of interfundactivityhas
beenremovedfromthesestatements.Governmentalactivities,whichnormallyaresupportedbytaxesand
intergovernmentalrevenues,arereportedseparatelyfrombusiness-typeactivities,whichrely to asignificantextent on
fees and charges for services.
Thestatement of activitiesdemonstratesthedegree to whichthedirectexpenses of agivenfunction or segmentare
offsetbyprogramrevenues.Directexpensesarethosethatareclearlyidentifiablewithaspecificfunction or segment.
Programrevenuesinclude:1)charges to customers or applicantswhopurchase,use,or directlybenefitfromgoods,
services,or privilegesprovidedbyagivenfunction or segmentand2)grantsandcontributionsthatarerestricted to
meetingtheoperationalneeds of theVillage or 3)capitalrequirements of aparticularfunction or segment.Taxesand
other items properly not included among program revenues are reported instead as general revenues.
Unrestricted net assets consist of net assets that do not meet the criteria of the two preceding categories.
-47-
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
3.Fund Accounting
Governmental Funds
Special Tax Allocation Fund - a major fund
Motor Fuel Tax Fund
Refuse and Recycling Fund
Joint Dispatch Fund
Foreign Fire Insurance Fund
Police Department Special Account Fund
Glen Redevelopment Fund
Glen Caretaker Fund
Fundsareclassifiedintothreebroadcategories:governmental,proprietary,andfiduciary.Eachcategory,in turn,is
divided into separate "fund types."
Governmentalfundsareused to accountforall or most of agovernment’sgeneralactivities,includingthecollection
anddisbursement of earmarkedmonies(specialrevenuefunds),theacquisition or construction of capitalassets
(capitalprojectsfunds),andservicing of generallong-termdebt(debtservicefunds).TheGeneralFund is used to
accountforallactivities of thegeneralgovernment not accountedfor in anotherfund.ThefollowingaretheVillage's
governmental fund types and funds:
General Fund is thegeneraloperatingfund of theVillage.It is used to accountforallfinancialresourcesexcept
those required to be accounted for in another fund.
Special Revenue Funds areused to accountfortheproceeds of specificrevenuesources(otherthanexpendable
trusts or majorcapitalprojects)thatarelegallyrestricted to expendituresforspecifiedpurposes.TheVillagehas
the following special revenue funds:
TheVillageusesfunds to report on itsfinancialpositionandtheresults of itsoperations.Fundaccounting is designed
to demonstratelegalcomplianceand to aidfinancialmanagementbysegregatingtransactionsrelated to certain
governmental functions or activities. A fund is a separate accounting entity with a self-balancing set of accounts.
-48-
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
3.Fund Accounting (Continued)
Governmental Funds (Continued)
Corporate Purpose Bond Series 2004 Fund
General Obligation Taxable Bond Series 2009E Fund - a major fund
Village Permanent Fund - a major fund
Glen Land Sales Fund - a major fund
Capital Projects Fund
Glen Capital Projects Fund
2006A Bond Projects Fund
Proprietary Funds
Enterprise Funds areused to accountforoperations(a)thatarefinancedandoperated in amannersimilar to
privatebusinessenterpriseswheretheintent of thegoverningbody is thatthecosts(expenses,including
depreciation)of providing goodsor services to theresidents of theVillage on acontinuingbasisbefinanced or
recoveredprimarilythroughusercharges;or (b)wherethegoverningbodyhasdecidedthatperiodicdetermination
of revenuesearned,expensesincurred,and/ornetincome is appropriateforcapitalmaintenance,publicpolicy,
management control, accountability, or other purposes.
Capital Project Funds areused to accountforfinancialresources to beusedfortheacquisition or construction of
majorcapitalassets(otherthanthosefinancedbyproprietaryfunds).TheVillagehasthefollowingcapitalproject
funds:
Proprietaryfundsareused to accountforactivities in asimilarmanner as thosefound in theprivatesector.The
measurementfocus is on thedetermination of netincome.Activities of thesefundsincludeservicesprovided to
residents of theVillage(such as waterandsanitarysewerservices)andservicesprovided to otherfunds(such as self
insurance and vehicle maintenance). The following are the Village's proprietary fund types and funds:
Debt Service Funds are used for the servicing of general long-term debt. The Village has the following debt service
funds:
-49-
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
3.Fund Accounting (Continued)
Proprietary Funds (Continued)
The Village has the following enterprise funds:
Glenview Water Fund - a major fund
North Maine Water and Sewer Fund - a major fund
Glenview Sanitary Sewer Fund - a major fund
Wholesale Water Fund
Commuter Parking Lot Fund
Capital Equipment Replacement Fund
Municipal Equipment Repair Fund
Insurance and Risk Fund
Facility Replacement Fund
Fiduciary Funds
Police Pension Fund
Firefighters' Pension Fund
Special Service Area (SSA) Bond Fund
Escrow Deposit Fund
Internal Service Funds areused to accountforthefinancing ofgoodsor servicesprovidedby one department to
otherdepartments of theVillage on acost-reimbursementbasis.TheVillagehasthefollowinggovernmental
activity internal service funds:
Enterprise Funds (Continued)
Trust Funds areused to accountforandreportpensionplanssincecapitalpreservation is critical.TheVillagehas
the following pension trust funds:
Fiduciaryfundsareused to accountforassetsheld on behalf of outsideparties,includingothergovernments,oron
behalf of otherfundswithintheVillage.Whentheseassetsareheldundertheterms of aformaltrustagreement,a
trust fund is used. The following are the Village's fiduciary fund types and funds:
Agency Funds areused to accountforandreportassetsheld on behalf of otherpartiesandchanges in theassets.
The Village has the following agency funds:
-50-
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
4.Fund Balance
a.
b.
c.
d.
e.
See Note M for additional detail on the components of the General Fund's fund balance at December 31, 2011.
TheGovernmentalAccountingStandardsBoard(GASB)hasissuedStatementNo.54,FundBalanceReportingand
GovernmentalFundTypeDefinitions (GASB54),whichwasadoptedbytheVillagefortheyearendedDecember
31,2011.In thefundfinancialstatements,governmentalfunds now reportfivecomponents of fundbalance:
nonspendable, restricted, committed, assigned, and unassigned.
Unassigned -refers to allspendableamounts not contained in theotherfourclassificationsdescribedabove.In
fundsotherthanthegeneralfund,theunassignedclassification is usedonly to reportadeficitbalanceresulting
from overspending for specific purposes for which amounts had been restricted, committed, or assigned.
Unlessspecificallyidentified,expendituresact to reducerestrictedbalancesfirst,thencommittedbalances,next
assignedbalances,andfinallytheyact to reduceunassignedbalances.Expendituresforaspecificallyidentified
purpose will act to reduce the specific classification of fund balance that is identified.
Committed -refers to amountsthatcanonlybeusedforspecificpurposespursuant to constraintsimposedby
formalaction of theVillage'shighestlevel of decisionmakingauthority(theBoard of Trustees).TheBoard of
Trusteescommitsfundbalancesbypassingaresolution.Amountscommittedcannotbeusedforanypurpose
unlesstheVillageremoves or changesthespecificusebytakingthesametype of formalaction it employed to
previously commit those funds.
Nonspendable -includesamountsthatcannotbespentbecausetheyareeither not in spendableform or legally or
contractuallyrequired to bemaintainedintact.Thenonspendable in formcriteriaincludesitemsthatare not
expected to be converted to cash such as prepaid items or inventories.
Restricted -refers to amountsthataresubject to outsiderestrictionssuch as creditors,grantors,contributors,laws
andregulations of othergovernments,or imposedbylawthroughenablinglegislation.Specialrevenue,debt
service, and capital projects funds are by definition restricted for those specified purposes.
Assigned -refers to amountsthatareconstrainedbytheVillage'sintent to beusedforaspecificpurpose,butare
neitherrestricted or committed.IntentmaybeexpressedbytheBoard of Trustees or theindividualtheBoard of
Trusteesdelegatestheauthority to assignamounts to beusedforspecificpurposes.TheBoard of Trustees
delegated this authority to the Village Manager.
-51-
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
5.Measurement Focus, Basis of Accounting, and Financial Statement Presentation
The Village reports the following major governmental funds:
Governmentalfundfinancialstatementsarereportedusingthecurrentfinancialresourcesmeasurementfocusandthe
modifiedaccrualbasis of accounting.Revenuesarerecognized as soon as theyarebothmeasurableandavailable.
Revenuesareconsidered to beavailablewhentheyarecollectiblewithinthecurrentperiod or soonenoughthereafter
to payliabilities of thecurrentperiod.Asixtydayavailabilityperiod is usedforrevenuerecognition of propertytax
revenuesandaninetydayperiod is usedforallothergovernmentalfundrevenues.Expendituresgenerallyare
recordedwhenaliability is incurred,as underaccrualaccounting.However,debtserviceexpenditures,as well as
expendituresrelated to compensatedabsencesandclaimsandjudgments,arerecordedwhenpayment is due.General
capital asset acquisitions are reported as expenditures in government funds.
Franchisetaxes,licenses,andinterestassociatedwiththecurrentfiscalperiodareallconsidered to besusceptible to
accrualand so havebeenrecognized as revenues of thecurrentfiscalperiod.Allotherrevenueitemsareconsidered to
be measurable and available only when cash is received by the government.
Thegovernment-widefinancialstatementsarereportedusingtheeconomicresourcesmeasurementfocusandthe
accrualbasis of accounting,as aretheproprietaryfundstatements.Revenuesarerecordedwhenearnedandexpenses
arerecordedwhenaliability is incurred,regardless of thetiming of relatedcashflows.Propertytaxesarerecognized
as revenues in theyearforwhichtheyarelevied.Propertytaxesarelevied in December2011 to financetheVillage's
2012calendaryear.Grantsandsimilaritemsarerecognized as revenue as soon as alleligibilityrequirementsimposed
by the provider have been met.
The GeneralFund is thegeneraloperatingfund of theVillage.It is used to accountforallfinancialresources
except those required to be accounted for in another fund.
The SpecialTaxAllocationFund,aspecialrevenuefundused to accountfortheincrementalpropertytaxrevenue
that is generated through the growth of the assessed valuation at The Glen, (formerly referred to as Glenview Naval
AirStation)andthe"Make-Whole"payments to corejurisdictionswithintheboundaries of theTaxIncrement
District.Thecorejurisdictionsconsistof:theVillage of Glenview,SchoolDistrict34,HighSchoolDistrict225,
theGlenviewParkDistrict,andtheGlenviewPublicLibrary,acomponentunit of theVillage.Thisfundalso
accounts for the service and incentive fees within the Tax Increment District.
-52-
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
5.Measurement Focus, Basis of Accounting, and Financial Statement Presentation (Continued)
The Village's major governmental funds (continued):
TheGlenviewSanitarySewerFund(formerlycalledtheSewerageFund)accountsfortheprovision of sanitary
sewerservices to propertyowners in bothincorporatedandunincorporatedareas of theVillage.Allactivities
necessary to providesuchservicesareaccountedfor in thisfundincluding,but not limitedto,administration,
transmissions,maintenance,financingandrelateddebtservice,andbillingandcollections.Treatment is performed
by another agency.
The GeneralObligationTaxableBondSeriesof2009EFund ,adebtfund,accountsformoniescollectedandpaid
fortheSeries2009Etaxablebonds,issued to acquireland in theGlenviewNavalAirStationEconomic
Development Project Area.
The GlenLandSalesFund,acapitalprojectfund,accountsforresourcesandexpendituresrelated to thesale of
properties in The Glen Tax Increment Financing (TIF) District.
The Village reports the following major proprietary funds:
The GlenviewWaterFund(formerlycalledtheWaterworksFund)accountsfortheprovision of waterservices to
thepropertyowners in theVillage.Allactivitiesnecessary to providesuchservicesareaccountedfor in thisfund
including,but not limitedto,administration,operations,maintenance,financingandrelateddebtservice,and
billing and collections.
The VillagePermanentFund,acapitalprojectsfund,is used to accumulate20%of thelandsalesproceeds of The
Glen.TheresourcesareusedforVillage-wideimprovements as well as short-termliquidityfortheVillage'stax
increment financed (TIF) projects at The Glen.
TheVillagehaschosentheoption to applyallapplicableGASBpronouncementsandallFinancialAccounting
StandardsBoard(FASB)StatementsandInterpretations,AccountingPrinciplesBoard(APB)Opinions,and
AccountingResearchBulletins(ARB)issued onor beforeNovember30,1989,unlesstheyconflictwith or contradict
GASB pronouncements, to the proprietary funds activity.
The NorthMaineWaterandSewerFund accountsfortheprovision of waterandsewerservices to theproperty
owners in an unincorporatedareasouthwest of theVillage.ThisareawasformerlyservedbytheNorthSuburban
PublicUtilitiesCompany.Allactivitiesnecessary to providesuchservicesareaccountedfor in thisfund
including,but not limitedto,administration,operations,maintenance,financingandrelateddebtservice,and
billing and collections.
-53-
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
5.Measurement Focus, Basis of Accounting, and Financial Statement Presentation (Continued)
6.Cash Equivalents
7.Investments
Proprietaryfundsdistinguishoperatingrevenuesandexpensesfromnonoperatingitems.Operatingrevenuesand
expensesgenerallyresultfromprovidingservicesandproducinganddelivering goods in connectionwithaproprietary
fund'sprincipalongoingoperations.Theprincipaloperatingrevenues of theenterprisefundand of theVillage’s
internalservicefundarecharges to customersforsalesandservices.Operatingexpensesfor an enterprisefundand an
internalservicefundincludethecost of salesandservices,administrativeexpenses,anddepreciation on capitalassets.
All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses.
Investments are carried at fair market value.
TheVillagereportsunearnedrevenues on itsfinancialstatements.Unearnedrevenuesarisewhenapotentialrevenue
does not meetboththe"measurable"and"available"criteriaforrecognition in thecurrentperiod.Unearnedrevenues
alsoarisewhenresourcesarereceivedbytheVillagebefore it hasalegalclaim to them,as whenmoniesarereceived
prior to theincurrence of qualifyingexpenditures.In subsequentperiods,whenrevenuerecognitioncriteriaaremet or
whentheVillagehasalegalclaim to theresources,theliabilityforunearnedrevenues is removedfromthefinancial
statements and revenue is recognized.
Forpurposes of thestatement of cashflows,theproprietaryfundtypesconsiderallhighlyliquidinvestmentswith
maturities of three months or less, at the date of purchase, to be cash equivalents.
As ageneralrule,theeffect of interfundactivityhasbeeneliminatedfromthegovernment-widefinancialstatements.
However, interfund services provided and used are not eliminated in the process of consolidation.
Amountsreported as programrevenuesinclude:1)charges to customersforgoods,services,or privilegesprovided,2)
operatinggrantsandcontributions,and3)capitalgrantsandcontributions,includingassessments.Internally
dedicatedresourcesarereported as generalrevenueratherthan as programrevenue.Likewise,generalrevenues
include all taxes.
-54-
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
8.Receivables
*
*
*
9.Inventory
10.Unbilled Services
11.Capital Assets
Inventory is accountedfor at cost,usingthefirst-in,first-outmethod.Inventory is accountedforunderthe
consumptionmethod,wherebyacquisitionsarerecorded in inventoryaccountsinitiallyandcharged to expenditures
when used.
Government-mandated or voluntarynonexchangetransactionreceivables(such as mandates or grants)are
recognized when all eligibility requirements have been met.
Unbilled revenue in the proprietary funds is recognized as earned when the services are provided.
Imposednonexchangereceivables(such as propertytaxesandfines)arerecognizedwhen an enforceablelegal
claim has arisen.
Majoroutlaysforcapitalassetsandimprovementsarecapitalized as projectsareconstructed.Interestincurredduring
theconstructionphase of capitalassets of business-typeactivities is included as part of thecapitalizedcost of the
assets constructed.
The recognition of receivables associated with nonexchange transactions is as follows:
Thecosts of normalmaintenanceandrepairsthat donot add to thevalue of theasset or materiallyextendassetlives
are not capitalized.Improvementsarecapitalizedanddepreciatedovertheremainingusefullives of therelatedcapital
assets, as applicable.
Derivedtaxreceivables(such as sales,income,andmotorfueltaxes)arerecognizedwhentheunderlying
exchange has occurred.
Capitalassets,whichincludeproperty,buildings,vehicles,equipment,andinfrastructureassets(e.g.roads,bridges,
andsimilaritems),arereported in theapplicablegovernmental or business-typeactivitiescolumns in thegovernment-
widefinancialstatementsand in theproprietaryfundsstatements.Capitalassetsaredefined as thosehaving an
estimatedusefullifegreaterthan one yearwith an initial,individualcost of morethan$25,000.Suchassetsare
recorded at historicalcost,or estimatedhistoricalcost if purchased or constructed.Donatedcapitalassetsare
recorded at estimated fair market value at the date of donation.
-55-
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
11.Capital Assets (Continued)
Buildings and improvements 25 - 80 years
Infrastructure*25 - 80 years
Water system 50 years
Sanitary sewer system 50 years
Machinery and equipment, and vehicles 5 - 10 years
*
12.Unearned Revenue
13.Accrued Vacation and Sick Leave (Compensated Absences)
14.Long-Term Obligations
The Village defers revenue recognition in connection with resources that have been received, but not yet earned.
In theevent of termination,an employee is paidforaccumulatedvacationdays.Employeesare not reimbursedfor
unusedsickleaveandallvacationtimemustbeused in thecurrentyear or shortlythereafter.Accruedvacation is
reported in thegovernmentalfundsfortheamount of vacationforemployeesthatretired or wereterminatedbefore
fiscalyear-endandthatwas not paid as of fiscalyear-endandtheamount of vacationforemployeesthatretired or
wereterminatedafteryear-end or thatareexpected to retire or beterminatedthroughtheend of thesubsequentfiscal
year.
Governmentalfundsreportunearnedrevenue in connectionwithreceivablesforrevenuesthatare not considered to be
available to liquidate liabilities of the current period.
In thegovernment-widefinancialstatementsandproprietaryfundtypes in thefundfinancialstatements,long-term
debtandotherlong-termobligations,includingcompensatedabsences,arereported as liabilities in theapplicable
governmentalactivities or business-typeactivitiesstatement of netassets.Bondpremiumsanddiscounts,as well as
issuancecosts,aredeferredandamortizedoverthelife of thebonds on astraight-linebasis.Bondissuancecostsare
reported as deferred charges and amortized over the term of the related debt.
Infrastructureincludesroads,curbs,gutters,stormsewers,recreationalpaths,streetlights,fieldlights,bridges,
and traffic control signals.
Capital assets are depreciated using the straight-line method over the following useful lives:
-56-
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
14.Long-Term Obligations (Continued)
15.Capital Contributions
16.Interfund Transactions
The Village has the following types of transactions between funds:
In thefundfinancialstatements,governmentalfundsrecognizebondpremiumsanddiscounts,as well as bondissuance
costs,duringthecurrentperiod.Thefaceamount of debtissued is reported as otherfinancingsources.Premiums
received on debtissuancesarereported as otherfinancingsources,whilediscounts on debtissuancesarereported as
otherfinancinguses.Issuancecosts,whether ornot withheldfromtheactualdebtproceedsreceived,arereported as
expenditures.
Reimbursements -repaymentsfromthefundsresponsibleforparticularexpenditures or expenses to thefundsthat
initiallypaidforthem.Reimbursementsarereported as expenditures in thereimbursingfundand as areduction of
expenditures in the reimbursed fund.
Debtservicefundsarespecificallyestablished to accountforandservicethelong-termobligationsforthe
governmentalfunds'debt.Enterprisefundsindividuallyaccountforandservicetheapplicabledebtthatbenefitsthose
funds.Long-termdebt is recognized as aliability in agovernmentalfundwhendue or whenresourceshavebeen
accumulated for payment early in the following year.
Capitalcontributions,if any,reported in thegovernmentalandproprietaryfundsrepresentcapitalassetsdonatedfrom
outside parties, principally developers.
Servicesprovidedandused -salesandpurchases ofgoods andservicesbetweenfundsforapriceapproximating
theirexternalexchangevalue.Interfundservicesprovidedandusedarereported as revenues in sellerfundsand
expenditures or expenses in purchaserfunds.Unpaidamountsarereported as dueto/fromotherfunds(internal
balances) in the fund balance sheets or fund statements of net assets.
Loans -amountsprovidedwitharequirementforrepayment.Interfundloansarereported as duefromotherfunds
in lenderfundsanddue to otherfunds in borrowerfundsforshort-termborrowings.Advances to otherfundsare
reported in lenderfundsandadvancesfromotherfunds in borrowerfundsforlong-termborrowings.Amountsare
reported as internal balances in the government-wide statement of net assets.
Transfers -flows of assets(such as cash or goods)withoutequivalentflows of assets in returnandwithouta
requirementforrepayment.In governmentalfunds,transfersarereported as otherfinancinguses in thefunds
makingtransfersand as otherfinancingsources in thefundsreceivingtransfers.In proprietaryfunds,transfersare
reported as a separate category after nonoperating revenues and expenses.
-57-
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
17.Use of Estimates
18.Claims and Judgments
NOTE B - DEPOSITS AND INVESTMENTS
-
-
-
-
-
-
-
-
Interest-bearingaccounts of banksandsavingsandloanassociationsinsuredup to $250,000bytheFederal
Deposit Insurance Corporation.
TheVillage'sinvestmentpolicylimitstheVillagefrominvesting in anyfinancialinstitution in whichtheVillage'sfunds on
deposit are in excess of 75% of the institution's capital stock and surplus.
In preparingfinancialstatements,management is required to makeestimatesandassumptionsthataffectthereported
amounts of assetsandliabilities,thedisclosure of contingentassetsandliabilities at thedate of thefinancial
statements,andthereportedamounts of revenues,expenditures,andexpensesduringthereportingperiod.Actual
results could differ from those estimates.
Moneymarketmutualfundswithportfolios of securitiesissued or guaranteedbytheUnitedStates or agreements
to repurchase these same types of obligations.
Short-termobligations of U.S.corporationsrated in thethreehighestclassificationsby at leasttwostandardrating
agencies.
Liabilities resulting from claims and judgments, including claims incurred but not reported, have been reflected in the
financial statements.
Obligations of the U.S. Treasury and U.S. agencies.
The Illinois Funds.
Illinois Metropolitan Investment Fund
Repurchase agreements which meet instrument transaction requirements of Illinois law.
TheVillagemaintainsacashandinvestmentpoolthat is availableforusebymostfunds.Eachfundtype'sportion of this
pool is displayed on thestatement of netassets as "cashandcashequivalents"and"investments."In addition,investments
areseparatelyheldbyseveral of theVillage'sfunds.TheVillage'sinvestmentpolicyandstatestatutesallowtheVillage to
invest in the following:
Insured accounts of an Illinois credit union chartered under United States or Illinois law.
-58-
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE B - DEPOSITS AND INVESTMENTS (Continued)
-
-
-
-Common and preferred stock.
As of December 31, 2011, cash and investments consisted of the following:
ComponentPensionAgency
VillageUnitTrust FundsFundsTotal
Cash and cash
equivalents $25,303,908 $3,143,503 $3,574,976 $642,497 $32,664,884
Investments 54,251,897 1,335,207 99,756,593 3,785,575 159,129,272
Cash and investments $79,555,805 $4,478,710 $103,331,569 $4,428,072 $191,794,156
Total
Deposits with financial institutions$45,625,778
The Illinois Funds 1,134,206
Illinois Metropolitan Investment Fund45,277,579
Other investments 99,756,593
$191,794,156
Interest Rate Risk
Separate accounts of Illinois-licensed insurance companies.
In accordancewithitsinvestmentpolicy,theVillagelimitsitsexposure to interestrateriskbystructuringtheportfolio
to provideliquidityforshort-andlong-termcashflowneedswhileprovidingareasonablerate of returnbased on the
current market.
Bondsissuedbyanycounty,city,township,village,incorporatedtown,municipalcorporation,or schooldistrict in
Illinois.
Direct obligations of the State of Israel.
Fordisclosurepurposes,thegrandtotalabove is segregatedintothreecomponents:1)depositswithfinancial
institutions,whichincludeamountsheld in demandaccounts,savingsaccounts,andnonnegotiablecertificates of
deposit;2)investments in TheIllinoisFundsandIllinoisMetropolitanInvestmentFund;and3)otherinvestments,
which consist of all investments other than certificates of deposit, as follows:
Thedepositsandinvestments of thePolicePensionFundandtheFirefighters'Fundareheldseparatelyfromeachother
andfromthose of otherVillagefunds.In addition to theaforementionedinvestments,thesepensionfundsarealso
permitted to invest in the following instruments:
-59-
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE B - DEPOSITS AND INVESTMENTS (Continued)
1.Primary Government and Component Unit
Credit Risk
Custodial Credit Risk
Concentration of Credit Risk
2.Pension Trust Funds
As of December 31, 2011, the Police Pension Fund had the following investments and maturities:
Investment Type Fair ValueLess than 11 - 5 6 - 10Greater than 10
U.S. Treasury obligations$16,804,914 $1,499,970 $8,716,808 $5,272,200 $1,315,936
U.S. agency obligations12,249,665 - 2,066,145 2,541,358 7,642,162
Mutual funds 21,277,390 21,277,390 - - -
$ 50,331,969 $ 22,777,360 $ 10,782,953 $ 7,813,558 $ 8,958,098
It is thepolicy of theVillage to diversifyitsinvestmentportfolio.Investmentsshallbediversified to eliminatetherisk
of loss resulting in an overconcentration in a security, maturity, issuer, or class of securities.
In thecase of deposits,this is theriskthat,in theevent of abankfailure,theVillage'sdepositsmay not bereturned.
For an investment,custodialcreditrisk is theriskthat,in theevent of thefailure of thecounterparty,theVillagewill
not beable to recoverthevalue of itsinvestments or collateralsecuritiesthatare in thepossession of an outsideparty.
To limititsexposure,theVillage'sinvestmentpolicyrequiresallinvestments to belimited to thesafesttypes of
securitiesinvestedwithpre-qualifiedinstitutions,broker/dealers,intermediaries,andadvisors,andsoundlydiversified.
TheIllinoisFundsandIllinoisMetropolitanInvestmentFund is not subject to custodialcreditrisk.Thebankbalance
of theVillage'sdepositswithfinancialinstitutionswas not exposed to custodialcreditrisk as itis fullyinsured or
collateralized as of December 31, 2011.
TheVillagelimitsitsexposure to creditrisk,theriskthattheissuer of adebtsecuritywill not payitsparvalueupon
maturity,byinvesting in externalinvestmentpools.TheIllinoisFundsMoneyMarketFundandPrimeFundarerated
AAAm byStandardandPoor's.TheIllinoisMetropolitanInvestmentFund(IMET)1-3YearSeriesandConvenience
Fund($42,223,443,$1,335,207,and$1,718,929fortheVillage,Library,andAgencyFunds,respectively)are
depositoryvehiclesthatare100percentcollateralizedwithobligations of theUnitedStatesTreasuryanditsagencies.
Allcollateralsecuritiesareheld in thename of theIllinoisMetropolitanInvestmentFund at theFederalReserveBank
of New York.
Investment Maturities (In Years)
-60-
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE B - DEPOSITS AND INVESTMENTS (Continued)
2.Pension Trust Funds (Continued)
As of December 31, 2011, the Firefighters' Pension Fund had the following investments and maturities:
Investment Type Fair ValueLess than 11 - 5 6 - 10Greater than 10
U.S. Treasury obligations$8,631,957 $- $5,403,363 $3,228,594 $-
U.S. agency obligations15,741,468 2,163,639 8,111,209 5,466,620 -
Municipal obligations1,231,575 - - 1,231,575 -
Mutual funds 23,819,624 23,819,624 - - -
$ 49,424,624 $ 25,983,263 $ 13,514,572 $ 9,926,789 $-
Interest Rate Risk
Credit Risk
Custodial Credit Risk
In accordancewiththeirinvestmentpolicies,thepensionfundslimittheirexposure to interestrateriskbystructuring
theportfolios to provideliquidityforshort-andlong-termcashflowneedswhileprovidingareasonablerate of return
based on the current market.
In thecase of deposits,this is theriskthat,in theevent of abankfailure,thepensionfunds'depositsmay not be
returned.For an investment,custodialcreditrisk is theriskthat,in theevent of thefailure of thecounterparty,the
fundswill not beable to recoverthevalue of theirinvestments or collateralsecuritiesthatare in thepossession of an
outsideparty.To limititsexposure,thePolicePensionFund'sinvestmentpolicyrequiresallsecuritytransactionsthat
areexposed to custodialcreditrisk to beheldbyathird-partyagent.TheFundscollateral is held in thename of the
thirdpartyagent.TheFirefighters'PensionFundinvestmentpolicyrequiresallinvestments to belimited to thesafest
types of securitiesinvestedwithpre-qualifiedinstitutions,broker/dealers,intermediaries,andadvisors,andsoundly
diversified. The Illinois Funds is not subject to custodial credit risk.
Investment Maturities (In Years)
Thefundslimittheirexposure to creditrisk,theriskthattheissuer of adebtsecuritywill not payitsparvalueupon
maturity,byinvesting in externalinvestmentpools.TheIllinoisFundsMoneyMarketFundandPrimeFundarerated
AAAm by Standard and Poor's.
-61-
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE B - DEPOSITS AND INVESTMENTS (Continued)
2.Pension Trust Funds (Continued)
Concentration of Credit Risk
NOTE C - RECEIVABLES
1.Property Tax Receivables
TheVillage'spropertytaxesarelevied in December of eachcalendaryear on alltaxablerealpropertylocated in the
Village.Propertytaxesattach asan enforceablelien on January1 of thesamelevyyear.Propertytaxrevenuesare
recognizedwhentheybecomemeasurableandavailable.TaxbillsarepreparedbytheCountyandissued onor about
February1andSeptember1 of thefollowingcalendaryear,andarepayable in twoinstallments onor aboutMarch1
andOctober1 in thatfollowingcalendaryear.TheCountycollectssuchtaxesandremitsthemperiodically.An
allowance for uncollectible taxes has been established based on historical experience.
Concentration of creditrisk is theriskthatthefundshaveahighpercentage of theirdeposits or investments in one
institution or type of investment.Thefunds'investmentpoliciesrequirediversification of investment to avoid
unreasonablerisk.At December31,2011,thePolicePensionFundandtheFirefighters'PensionFundhad no
uninsured or uncollateralized deposits.
-62-
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE C - RECEIVABLES (Continued)
2.Taxes Receivable
Property $10,574,530
Sales 5,048,778
Utility 1,001,941
Income 1,365,643
Use 157,851
Franchise 147,763
Hotel 42,112
Amusement 10,232
Total taxes receivable $18,348,850
3.Other Receivables
Notes $ 1,888,668
Court fines 10,995
Tipping fees 44,791
911 surcharge fees 127,193
Grants 31,448
Interest 18,085
Licenses 46,355
Other 115,842
Total other receivables $2,283,377
4.Due From Other Governments
$94,002
Thefollowingamountduefromanothergovernment is included in DueFromOtherGovernments on theGovernmental
Funds Balance Sheet and the Governmental Statement of Net Assets:
Illinois Department of Transportation - motor fuel taxes
Thefollowingreceivablesareincluded in Receivables-Taxes on theGovernmentalFundsBalanceSheetand
Governmental Statement of Net Assets:
Thefollowingreceivablesareincluded in Receivables-Other on theGovernmentalFundsBalanceSheetand
Governmental Statement of Net Assets:
-63-
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE D - CAPITAL ASSETS
1.Governmental Activities
A summary of changes in capital assets for governmental activities of the Village is as follows:
Beginning Ending
Balance AdditionsDeletions Balance
$722,989 $- $ 722,989 $-
6,935,698 - - 6,935,698
55,143,868 1,923 - 55,145,791
not being depreciated 62,802,555 1,923 722,989 62,081,489
Capital assets being depreciated
Buildings and improvements 75,073,054 646,315 30,581 75,688,788
11,105,379 402,321 1,110,796 10,396,904
Infrastructure 129,695,741 2,742,186 95,466 132,342,461
215,874,174 3,790,822 1,236,843 218,428,153
Less accumulated depreciation for
15,111,399 1,653,942 30,581 16,734,760
7,409,134 729,154 1,110,796 7,027,492
52,487,786 2,786,755 95,466 55,179,075
75,008,319 5,169,851 1,236,843 78,941,327
Total capital assets,
being depreciated, net 140,865,855 (1,379,029) - 139,486,826
Governmental activities
capital assets, net $203,668,410 $(1,377,106) $722,989 $201,568,315
Capital assets, not being depreciated
Buildings and improvements
Total capital assets,
Machinery and equipment
Total capital assets, being depreciated
Total accumulated depreciation
Infrastructure
Land
Land right of way
Construction in progress
Machinery and equipment
-64-
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE D - CAPITAL ASSETS (Continued)
2.Business-type Activities
A summary of changes in capital assets for business-type activities of the Village is as follows:
Beginning Ending
Balance AdditionsDeletions Balance
Capital assets, not being depreciated
Land $802,851 $- $- $ 802,851
Construction in progress 720,498 - 720,498 -
Total capital assets, not being depreciated1,523,349 - 720,498 802,851
Capital assets, being depreciated
Buildings and improvements 1,540,549 1,072,876 - 2,613,425
Water system 54,885,984 1,864,841 319,141 56,431,684
Sanitary sewer system 19,695,301 2,716,570 155,181 22,256,690
Equipment and vehicles 4,190,516 168,807 34,726 4,324,597
Total capital assets, being depreciated 80,312,350 5,823,094 509,048 85,626,396
Less accumulated depreciation for
Buildings and improvements 607,312 71,045 - 678,357
Water system 15,819,504 1,108,194 212,995 16,714,703
Sanitary sewer system 4,341,796 429,509 67,303 4,704,002
Equipment and vehicles 3,508,313 209,624 - 3,717,937
Total accumulated depreciation 24,276,925 1,818,372 280,298 25,814,999
Total capital assets being depreciated, net 56,035,425 4,004,722 228,750 59,811,397
Business-type activities
capital assets, net $57,558,774 $4,004,722 $949,248 $60,614,248
-65-
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE D - CAPITAL ASSETS (Continued)
3.Depreciation Expense
General government $2,868,939
Public safety 1,126,290
Public works 697,751
Culture and recreation 463,160
Internal service 13,711
Total governmental activity depreciation expense $5,169,851
Depreciation expense for the business-type activities are as follows:
Glenview Water Fund $1,121,798
North Maine Water and Sewer Fund 165,505
Glenview Sanitary Sewer Fund 400,668
Wholesale Water Fund 62,816
Commuter Parking Fund 67,585
$1,818,372
Depreciationexpensewascharged to functions/programs of theprimarygovernment'sgovernmentalactivities as
follows:
-66-
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE D - CAPITAL ASSETS (Continued)
4.Component Unit - Glenview Library
A summary of changes in capital assets for the Library is as follows:
AdditionsDeletions
Capital assets, not being depreciated
Land $ 5,426,987 $- $- $ 5,426,987
5,426,987 - - 5,426,987
Capital assets, being depreciated
Buildings and improvements 24,447,847 2,453,699 - 26,901,546
Equipment and vehicles 105,361 8,041 - 113,402
Library materials 6,383,398 663,646 412,254 6,634,790
Total capital assets, being depreciated 30,936,606 3,125,386 412,254 33,649,738
Less accumulated depreciation for
Buildings and improvements 488,956 538,031 - 1,026,987
Equipment and vehicles 21,072 22,081 - 43,153
Library materials 3,286,189 1,006,721 58,893 4,234,017
Total accumulated depreciation 3,796,217 1,566,833 58,893 5,304,157
27,140,389 1,558,553 353,361 28,345,581
Total capital assets, net $32,567,376 $1,558,553 $353,361 $33,772,568
Ending
Balance
Beginning
Balance
Total capital asset being depreciated, net
-67-
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE E - RISK MANAGEMENT
1.Self-Insurance
Unpaid claims liability - January 1, 2010 $2,011,679
Claims incurred - calendar year 2010 2,106,933
Claims paid - calendar year 2010 (923,543)
Unpaid claims liability - December 31, 2010 3,195,069
Claims incurred - calendar year 2011 800,326
Claims paid - calendar year 2011 (806,409)
Unpaid claims liability - December 31, 2011 $3,188,986
TheVillageestablishedtheInsuranceandRiskFund(aninternalservicefund)to reportself-insuranceactivities.The
Village'spolicy is to financecurrently in thisfundallclaimspaid,estimatedfuturepaymentswithrespect to claims
made,andestimatedclaimsincurredbut not reported.TheInsuranceandRiskFundprovidescoverageup to a
maximum of $200,000foreachgeneralliabilityclaim,$550,000foreachworkers'compensationclaim,and$100,000
for each property damage claim. Such payments are displayed on the financial statements as claims expense.
TheVillage is exposed to variousrisks of lossrelated to torts;theftof,damageto,anddestruction of assets;errorsand
omissions;naturaldisasters;andillnesses of andinjuries to theVillage'semployees.TheVillage is self-insured(and
participates in twopublicemployeeriskpoolsforhealthclaims)forgeneralliability,auto,property,andworkers'
compensationrisks.Commercialinsurance is carriedforamounts in excess of theself-insuredamounts.Forallinsured
programs, settlement amounts have not exceeded insurance coverage for the current or three prior years.
A reconciliation of claims liability for the current year and that of the preceding year is reported below:
Liabilitiesarereportedwhen itis probablethatalosshasoccurredandtheamount of thelosscanbereasonably
estimated.Liabilitiesinclude an amountforclaimsthathavebeenincurredbut not reported(IBNR).Thetotalclaim
liability as of December 31, 2011 was $3,188,986. .
-68-
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE E - RISK MANAGEMENT (Continued)
2.Intergovernmental Personnel Benefit Cooperative (IPBC)
3.High-Level Excess Liability Pool (HELP)
TheVillageparticipates in theIntergovernmentalPersonnelBenefitCooperative(IPBC).IPBC is apublicentityrisk
poolwithamembership of thirteenlocalgovernments in Illinois to administersome or all of thepersonnelbenefit
programs(such as medical,dental,andlifeinsurancecoverage)offeredbyitsmembers to theirofficersandemployees
and to theofficersandemployees of certainothergovernmental,quasi-governmental,andnonprofitpublicservice
entities. Risk of loss is retained by the Village, except that IPBC purchases excess insurance coverage.
TheVillageparticipates in theHigh-LevelExcessLiabilityPool(HELP).HELP is apoolwithamembership of
thirteen municipalities in Illinois to provide excess liability coverage ($10,000,000 of coverage after a $2,000,000 self-
insuranceretention).TheVillage'spayments to HELParedisplayed on thefinancialstatements as expenses in the
Insurance Fund.
Eachmunicipalityhas one member on theHELPBoard of Directorsandallbudgetingandfinancedecisionsare
approvedbytheBoard.Eachdirectorhas an equalvote.Theofficers of HELPareappointedbytheBoard of
Directors.TheBoard of Directorsdeterminesthegeneralpolicy of HELP,makesallappropriations,approves
contracts,adoptsresolutionsprovidingfortheissuance of anydebtbyHELP,adoptsbylaws,rulesandregulations,
andexercisessuchpowersandperformssuchduties as maybeprescribed in theAgencyAgreement or thebylaws.
TheVillagedoes not exerciseanycontrolovertheactivities of HELPbeyonditsrepresentation on theBoard of
Directors.
Managementconsists of aboard of directors,comprised ofone representativefromeachmember.In addition,there
arethreeofficers,aBenefitAdministratorandaTreasurer.TheVillagedoes not exerciseanycontroloverthe
activities of the IPBC beyond its representation on the Board of Directors.
TheHigh-LevelExcessLiabilityPoolwasorganized on April1,1987.TheTerm II agreementexpired on April30,
2008,andwasextendedforanotherten-yearterm(Term III),with an expirationdate of April30,2018.Thepurpose
of HELP is to act as ajointself-insurancepoolforthepurpose of seekingtheprevention or lessening of liability
claimsforinjuries to persons or property or claimsforerrorsandomissionsandemployers'liabilitymadeagainstthe
members and other parties included within the scope of its coverage.
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Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE F - LONG-TERM DEBT
1.
Beginning Additions/EndingDue Within
Issue BalanceIssuancesRetirementsBalanceOne Year
Governmental activities
General obligation bonds
Village $109,125,000 $11,035,000 $21,045,000 $99,115,000 $10,320,000
Unamortized
Bond discount - (228,005) (27,454) (200,551) -
Bond premium 606,848 176,495 347,390 435,953 -
SSA BondCompensated absences1,582,739 99,718 199,435 1,483,022 296,604
CompensatedOther postemployment
benefits 686,245 571,999 341,366 916,878 -
Total governmental
activities 112,000,832 11,655,207 21,905,737 101,750,302 10,616,604
Business-type activities
General obligation bonds4,750,000 - 890,000 3,860,000 910,000
Notes payable 1,534,796 - 139,523 1,395,273 146,419
Unamortized
Bond discount (5,483) - (1,795) (3,688) -
Bond premium 18,445 - 2,451 15,994 -
Notes payableCompensated absences 63,512 13,726 27,452 49,786 9,957
CompensatedUnamortized loss on
refunding (252,898) - (33,269) (219,629) -
Total business-type
activities 6,108,372 13,726 1,024,362 5,097,736 1,066,376
Total Village long-term
liabilities $118,109,204 $11,668,933 $22,930,099 $106,848,038 $11,682,980
Component Unit - Glenview Library
General obligation bonds$25,840,000 $- $1,020,000 $24,820,000 $1,045,000
Compensated absences 272,637 40,580 60,870 252,347 50,469
Total Component Unit
long-term liabilities$26,112,637 $40,580 $1,080,870 $25,072,347 $1,095,469
(Continued)
The following is a summary of changes in the Village's long-term liabilities in 2011:
Changes in Long-Term Liabilities
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Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE F - LONG-TERM DEBT (Continued)
1.Changes in Long-Term Liabilities (Continued)
Beginning EndingDue Within
Issue BalanceIssuancesRetirementsBalanceOne Year
Governmental activities
$41,800,000 General Obligation
Bond Series 2001 $11,000,000 $- $11,000,000 $- $-
$25,000,000 General Obligation
Bond Series 2004A20,100,000 - 1,800,000 18,300,000 2,125,000
$22,315,000 General Obligation
Bond Series 2004B20,250,000 - 1,100,000 19,150,000 1,150,000
$10,000,000 General Obligation
Refunding Bond
Series 2005 10,000,000 - 25,000 9,975,000 700,000
$10,000,000 General Obligation
Bond Series 2006A10,000,000 - - 10,000,000 -
$11,290,000 General Obligation
Bond Series 2009D9,650,000 - 1,545,000 8,105,000 885,000
$28,125,000 General Obligation
Bond Series 2009E28,125,000 - - 28,125,000 -
(Continued)
The following changes in the Village's general obligation bonded debt occurred in 2011:
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Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE F - LONG-TERM DEBT (Continued)
1.Changes in Long-Term Liabilities (Continued)
Beginning EndingDue Within
Issue BalanceIssuancesRetirementsBalanceOne Year
Governmental activities (continued)
$11,035,000 General Obligation
Refunding Bond
Series 2011$- $11,035,000 $5,575,000 $5,460,000 $5,460,000
Total governmental
general obligation bonded
debt*$ 109,125,000 $ 11,035,000 $ 21,045,000 $ 99,115,000 $ 10,320,000
*
Beginning EndingDue Within
Issue BalanceIssuancesRetirementsBalanceOne Year
Business-type activities
$1,995,000 General Obligation
Refunding Bond Series
2003B 445,000 - 220,000 225,000 225,000
$5,000,000 General Obligation
Bond Series 2007A
Debt retired by:
North Maine Water
and Sewer Fund1,544,400 - 235,4001,309,000 242,000
Glenview Water Fund1,965,600 - 299,6001,666,000 308,000
3,510,000 - 535,000 2,975,000 550,000
(Continued)
The$26,300,000 of GeneralObligationBondTaxableSeries2009Ashown in theComponentUnit-Glenview
Libraryandthe$400,000 of GeneralObligationBondTaxableSeries2009A in theSpecialServiceAreaFundwere
issued in theVillage'snamewiththeintentthataportion of thepropertytaxlevyfortheLibraryFundwillmakeall of
the required debt service payments.
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Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE F - LONG-TERM DEBT (Continued)
1.Changes in Long-Term Liabilities (Continued)
Beginning EndingDue Within
Issue BalanceIssuancesRetirementsBalanceOne Year
Business-type activities (continued)
$1,200,000 General
Obligation Bond Series
2007B $795,000 $- $135,000$660,000 $135,000
Total general
obligation bonds4,750,000 - 890,0003,860,000910,000
$2,850,000 Corporate Purpose
Note Series 1997 1,534,796 - 139,5231,395,273 146,419
Total business-type
general obligation bonded
debt 6,284,796 - 1,029,523 5,255,273 1,056,419
Component Unit - Glenview Library
$26,300,000 General
Obligation Bond
Taxable Series 2009A25,840,000 - 1,020,000 24,820,000 1,045,000
Total general obligation
bonded debt$141,249,796$11,035,000 $23,094,523$129,190,273 $12,421,419
2.General Long-Term Debt
At December 31, 2011, general obligation bonded debt is comprised of the following:
$1,955,000 General Obligation Refunding Bond Series of 2003B
Dated April 1, 2003.
Due in annualinstallments of $160,000 to $225,000plusinterest at 1.3-3.85%throughDecember1,2012.Debt
is retired by business-type activity in the Wholesale Water Fund.
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Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE F - LONG-TERM DEBT (Continued)
2.General Long-Term Debt (Continued)
$25,000,000 General Obligation Bond Series 2004A
Dated August 1, 2004.
$22,315,000 General Obligation Bond Series 2004B
Dated August 1, 2004.
$10,000,000 General Obligation Refunding Bond Series 2005
Dated November 1, 2005.
$10,000,000 General Obligation Bond Series 2006A
Dated December 1, 2006.
$5,000,000 General Obligation Bond Series 2007A
Dated December 15, 2007.
$1,200,000 General Obligation Bond Series 2007B
Dated December 15, 2007.
Dated May 5, 2009.
Due in annualinstallments of $475,000 to $635,000plusinterest at 3.50-3.75%throughDecember1,2016.Debt
is retired by business-type activity in the Glenview Water Fund and the Glenview Sanitary Sewer Fund.
Due in annualinstallments of $125,000 to $8,250,000plusinterest at 2.0-4.0%throughDecember1,2014.Debt
is retired by governmental activity in the Special Tax Allocation Fund.
Due in annualinstallments of $1,015,000 to $1,900,000plusinterest at 3.5-4.70%throughDecember1,2024.
Debt is retired by proceeds from a property tax levy.
Due in annualinstallments of $25,000 to $1,825,000plusinterest at 3.5-3.75%throughDecember1,2018.Debt
is retired by governmental activity in the Special Tax Allocation Fund.
$26,300,000 General Obligation Bond Taxable Series 2009A
Due in annualinstallments of $460,000 to $1,860,000plusinterest at 3.000-4.125%throughDecember1,2029.
Debt is retired by proceeds from a library property tax levy.
Due in annualinstallments of $130,000 to $135,000plusinterest at 4.80-5.00%throughDecember1,2016.Debt
is retired by business-type activity in the North Maine Water and Sewer Fund.
Due in annualinstallments of $2,350,000 to $2,650,000plusinterest at 3.75%throughDecember1,2018.Debt
is retired by governmental activity in the Special Tax Allocation Fund.
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Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE F - LONG-TERM DEBT (Continued)
2.General Long-Term Debt (Continued)
Dated October 21, 2009.
Due in annual installments of $385,000 to $1,640,000 plus interest at 2.0-4.0% through December 1, 2018.
Debt is retired by governmental activity in the Special Tax Allocation Fund.
$ 28,125,000 General Obligation Bond Series 2009E
Dated October 21, 2009.
Debt is retired by governmental activity in the Special Tax Allocation Fund.
$ 11,035,000 General Obligation Refunding Series 2011
Dated September 27, 2011.
Due in annual installments of $5,575,000 and $5,460,000 plus interest at 1.500 - 3.000%
through December 1, 2012.
Debt is retired by governmental activity in the Special Tax Allocation Fund.
At December 31, 2011, notes payable is comprised of the following:
$2,850,000 Corporate Purpose Notes Series 1997
Dated September 2, 1997.
a.Current Refunding
Due in annualinstallments of $215,377includinginterest of 4.942%throughSeptember1,2019.Debt is retired
by business-type activity in the North Maine Water and Sewer Fund.
Due in an annual installment of $28,125,000 plus interest of 2.35% through December 1, 2013.
TheVillageissued$11,035,000 of GeneralObligationRefundingBondsforacurrentrefunding of $11,000,000
GeneralObligationBondSeries2001.Therefundingwasundertaken to takeadvantage of favorableinterestrates.
Thereacquisitionpriceexceededthecarryingamount of theolddebtby$35,000.Thetransactionresulted in a
reduction of $469,463 in future debt service payments.
$11,290,000 General Obligation Refunding Series 2009D
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Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE F - LONG-TERM DEBT (Continued)
3.Debt Service Requirements to Maturity
Governmental Activity
Fiscal Year Ending
December 31, PrincipalInterest
2012$10,320,000 $3,331,226
2013 38,885,000 3,000,288
2014 12,230,000 1,943,612
2015 6,470,000 1,478,550
2016 6,740,000 1,243,012
2017 - 202119,020,000 2,910,246
2022 - 20245,450,000 514,337
Totals $99,115,000 $14,421,271
Business-type Activity
Year Ending
December 31, PrincipalInterest PrincipalInterest
2011 $910,000 $146,908 $146,419 $68,958
2012 710,000 112,446 153,655 61,722
2013 730,000 85,708 161,249 54,128
2014 745,000 58,272 169,219 46,158
2015 765,000 30,312 177,582 37,795
2016 - 2019 - - 587,149 58,969
Totals $3,860,000 $433,646 $1,395,273 $327,730
Annualgeneralobligationbonddebtservicerequirements to maturityfortheVillage'sgovernmentalactivitiesare as
follows:
Annualgeneralobligationbondandcorporatepurposenotespayabledebtservicerequirements to maturityforthe
Village's business-type activities are as follows:
General Obligation Bonds Corporate Purpose Notes
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Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE F - LONG-TERM DEBT (Continued)
3.Debt Service Requirements to Maturity (Continued)
Component Unit - Glenview Library
Year Ending
December 31, PrincipalInterest
2012 $1,045,000 $910,181
2013 1,070,000 878,831
2014 1,095,000 846,731
2015 1,125,000 813,881
2016 1,155,000 780,131
2017 - 2021 6,355,000 3,294,156
2022 - 2026 7,615,000 2,021,356
2027 - 2029 5,360,000 446,039
Totals $24,820,000 $9,991,306
4.Noncommitment Debt - Special Service Area Bonds
5.Compensated Absences and Other Postemployment Benefits
6.Revolving Line of Credit
Thespecialserviceareabondsoutstanding as of December31,2011totaled$453,996.Thesebondsare not an
obligation of theVillageandaresecuredbythelevy of specialdebtservice on therealpropertywithineachspecial
servicearea.TheVillage isin no wayliableforrepayment,but is onlyacting as theagentforthepropertyowners in
levyingandcollectingtheassessmentsandforwardingthecollections to thebondholders.Thisactivity is accounted
for in an agency fund, The Special Service Area (SSA) Bond Fund.
Annual general obligation bond debt service requirements to maturity for the Village's component unit are as follows:
General Obligation Bonds
TheGeneralFund is used to liquidateanyliabilityforcompensatedabsences or otherpostemploymentbenefits of
governmental activities.
TheVillagehasavailablea$15,000,000line of creditwithGlenviewStateBankwhichexpires on December31,
2012. The line of credit was not used during 2011, and there was no outstanding balance.
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Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE G - INTERFUND BALANCES AND TRANSFERS
1.Interfund Balances
InterfundInterfund
Fund ReceivablesPayables
General
Nonmajor Governmental $80,975 $63,600
80,975 63,600
Nonmajor Governmental
General Fund 63,600 80,975
63,600 80,975
144,575 144,575
Less amounts eliminated under GASB 34 (144,575) (144,575)
$- $-
Interfund loans are made in anticipation of future receipts.
2.Due to/from Pension Trusts
Due DueFundFromTo
GeneralPolice Pension $- $24,606 Firefighters' Pension - 39,544
- 64,150
Police PensionGeneral 24,606 -
24,606 -
Firefighters' Pension
General 39,544 -
39,544 -
$64,150 $64,150
Loans to pension trusts are made in anticipation of future receipts.
Theoutstandingbalancesbetweenfundsresultmainlyfromthetimelagbetweenthedatesthat(1)interfund goods and
servicesareprovided or reimbursableexpendituresoccur,(2)transactionsarerecorded in theaccountingsystem,and
(3)paymentsbetweenfundsaremade.Interfundbalancesareintended to berepaidcurrentlyfromotherresources of
respective funds. Individual interfund balances at December 31, 2011 are shown as follows:
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Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE G - INTERFUND BALANCES AND TRANSFERS (Continued)
3.Advances to/from Other Funds
AdvanceAdvance
Fund From To
Village Permanent
Special Tax Allocation $15,199,590 $-
North Maine Water and Sewer 3,684,298 -
18,883,888 -
Special Tax Allocation
Village Permanent - 15,199,590
- 15,199,590
North Maine Water and Sewer
Village Permanent - 3,684,298
- 3,684,298
18,883,888 18,883,888
Less amounts eliminated under GASB 34 (15,199,590) (15,199,590)
$3,684,298 $3,684,298
4.Interfund Transfers
a.
Amount
General Special Tax Allocation $276,277
General Wholesale Water 300,000
General Glenview Sanitary Sewer 32,905
Nonmajor Governmental General 3,997,004
Nonmajor Governmental Village Permanent 4,629,035
Nonmajor Governmental Wholesale Water 449,280
Transfersareused to (1)moverevenuesfromthefundwithcollectionauthorization to thecapitalprojectfund or
enterprisefund as debtserviceandinterestpaymentsbecomedue,or (2)moverestrictedgeneralfundrevenues to
financevariousprogramsthatthegovernmentmustaccountfor in otherfunds in accordancewithbudgetary
authorization.Interfundtransfersarerecordedforpermanenttransfersbetweenfundswhichare not expected to be
repaid. Individual interfund transfers during the fiscal year ended December 31, 2011 were as follows:
Transfers Out
Primary Government
Transfers In
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Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE G - INTERFUND BALANCES AND TRANSFERS (Continued)
4.Interfund Transfers (Continued)
a.
Amount
Glenview Water Facilities Replacement $882,000
Glenview Sanitary Sewer Nonmajor Governmental 1,415,723
Glenview Sanitary Sewer Village Permanent 147,340
Commuter Parking Nonmajor Governmental 1,072,876
General Nonmajor Governmental 1,094,882
Special Tax Allocation Nonmajor Governmental 1,270,365
Special Tax Allocation Glen Land Sales 10,057,895
Special Tax Allocation General Obligation Taxable Bond Series of 2009E 1,404
Nonmajor Governmental Nonmajor Governmental 9,201,113
General Escrow Deposit 35,595
Glenview Sanitary Sewer Special Service Areas 19,637
Nonmajor Governmental Special Service Areas 22,477
$34,905,808
b.
Amount
Library Gift Library Wavering Gift $138
Library New Building Friends of the Library 235,129
Library New Building Library Wavering Gift 80,719
Library New Building Library Gift 12,524
Library New Building Glenview Public Library Foundation 757,323
Library New Building Library Watson Gift 54,207
$1,140,040
NOTE H - CONTRACTUAL COMMITMENTS
1.High-Level Excess Liability Pool (HELP)
TheVillage is amember of ajointventure,theHigh-LevelExcessLiabilityPool(HELP).ThecontractwithHELP
provides excess liability insurance (see Note I).
Component Unit
Transfers In Transfers Out
Transfers In Transfers Out
Primary Government (Continued)
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Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE H - CONTRACTUAL COMMITMENTS (Continued)
2.Solid Waste Agency of Northern Cook County (SWANCC)
3.Economic Development Agreement
4.
NOTE I - JOINT VENTURES
1.High-Level Excess Liability Pool
-Miles of streets -Number of motor vehicles
-Number of full-time equivalent employees -Operating revenues
2.
TheVillagehascommitted to purchaseexcessliabilityinsurancefromtheHigh-LevelExcessLiabilityPool(HELP).
TheamountowedhasbeencalculatedusingtheVillage'scurrentallocationpercentage of 9.51%.In futureyears,this
allocationpercentagewillbesubject to changebecausetheHELPagreementprovidesthateachmemberwillbe
assessed an amount based upon a formula that uses the following criteria for allocating premium costs.
TheVillage'sagreementwithHELPalsoprovidesthateachmember is liableforitsproportionateshare of anycosts
arising from defaults in payment obligations by other members. (See Note E-3 for more detail regarding HELP.)
Construction Commitments
TheVillage is amember of ajointventure,theSolidWasteAgency of NorthernCookCounty(SWANCC)The
contractwithSWANCCprovidesthateachmember is liableforitsproportionateshare of anycostsarisingfrom
defaults in payment obligations by other members (see Note I).
In 2000,theVillageenteredinto an economicdevelopmentagreementwithalocalretailerwhowished to relocateits
operations to theVillage.Undertheterms of theagreement,theVillagewillrebateaportion of localsalestaxreceipts
generatedbytheretaileroverabaseamount.Theagreement is contingent on theretailermaintainingtheirfacility
withintheVillageforaperiod of at leastfifteenyearsfromtheeffectivedate of theagreement.In fiscalyear2011,
the Village made payments to the retailer totaling $1,166,206 in accordance with the terms of this agreement.
TheVillagehascertaincontracts in variousfundsforconstructionprojectswhichwere in progress at December31,
2011. Remaining commitments under these contracts approximated $522,000.
Solid Waste Agency of Northern Cook County
TheVillage is amember of SolidWasteAgency of NorthernCookCounty(SWANCC),whichconsists of twenty-
threemunicipalities.SWANCC is amunicipalcorporationandpublicbodypoliticestablishedpursuant to the
Constitution of theState of IllinoisandtheIntergovernmentalCooperationAct of theState of Illinois,as amended,
(theAct).SWANCC is empoweredundertheAct to plan,construct,finance,operate,andmaintainasolidwaste
disposal system to serve its members.
-81-
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE I - JOINT VENTURES (Continued)
2.
NOTE J - EMPLOYEE RETIREMENT SYSTEMS
1.Illinois Municipal Retirement Fund
a.Plan Description
b.
Themembersformacontiguousgeographicservicearea,which is locatednorthwest of downtownChicago.Underthe
SWANCC Agreement, additional members may join SWANCC upon the approval of each member.
SWANCC is governedbyaBoard of Directors,whichconsists ofone appointedMayor or Presidentfromeach
membermunicipality.EachDirectorhas an equalvote.Theseven-memberExecutiveCommittee of SWANCC is
electedbytheBoard of Directors.TheBoard of Directorsdeterminesthegeneralpolicy of SWANCC,makesall
appropriations,approvescontracts,adoptsresolutionsprovidingfortheissuance of bonds or notesbySWANCC,
adoptsby-laws,rulesandregulations,andexercisessuchpowersandperformssuchduties as maybeprescribed in the
agreement or the by laws.
In accordancewiththejointventureagreement,theVillageremitted$573,977 to SWANCCfortheyearended
December31,2011.Thepaymentsarerecorded in theRefuseandRecyclingFund,oneof theVillage'snonmajor
special revenue funds. The Village does not have an equity interest in SWANCC at December 31, 2011.
CompletefinancialstatementsforSWANCCcanbeobtainedfromSWANCC'sadministrativeoffice at 2700Patriot
Boulevard, Suite 110, Glenview, Illinois 60026, or from SWANCC's web site, www.swancc.org.
TheVillage'sdefinedbenefitpensionplan,forregularemployees,providesretirementanddisabilitybenefits,
postretirementincreases,anddeathbenefits to planmembersandbeneficiaries.Theemployerplan is affiliated
withtheIllinoisMunicipalRetirementFund(IMRF),an agentmultiple-employerplan.Benefitprovisionsare
establishedbystatuteandmayonlybechangedbytheGeneralAssembly of theState of Illinois.IMRFissuesa
publiclyavailablefinancialreportthatincludesfinancialstatementsandrequiredsupplementaryinformation.That
report may be obtained online at www.imrf.org.
As setbystatestatute,theVillage'sregularplanmembersarerequired to contribute4.5percent of theirannual
coveredsalary.ThestatuterequirestheVillage to contributetheamountnecessary,in addition to member
contributions,to financetheretirementcoverage of itsownemployees.TheVillageannualrequiredcontribution
rateforcalendaryear2011was13.44percent.TheVillagealsocontributesfordisabilitybenefits,deathbenefits,
andsupplementalretirementbenefits,all of whicharepooled at theIMRFlevel.Contributionratesfordisability
anddeathbenefitsaresetbytheIMRFBoard of Trustees,whilethesupplementalretirementbenefitsrate is setby
state statute.
Funding Policy
Solid Waste Agency of Northern Cook County (Continued)
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Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE J - EMPLOYEE RETIREMENT SYSTEMS (Continued)
1.Illinois Municipal Retirement Fund (Continued)
c.Annual Pension Costs
Three-Year Trend Information for the Regular Plan - Illinois Municipal Retirement Fund
FiscalAnnualPercentageNet
YearPensionof APCPension
EndingCost (APC)ContributedObligation
12/30/11$2,073,818100 % $-
12/30/101,988,818100 -
12/30/091,822,378100 -
d.
Theschedule of fundingprogress,presented as RequiredSupplementaryInformationfollowingthenotes to the
financialstatements,presentsmultiyeartrendinformationaboutwhethertheactuarialvalue of planassets is
increasing or decreasing over time relative to the actuarial accrued liability for benefits.
As of December31,2011,themostrecentactuarialvaluationdate,theregularplanwas61.45%funded.The
actuarialaccruedliabilityforbenefitswas$41,668,646andtheactuarialvalue of assetswas$25,605,004,
resulting in an underfundedactuarialaccruedliability(UAAL)of $16,063,642.Thecoveredpayrollforcalendar
year2011(annualpayroll of activeemployeescoveredbytheplan)was$15,430,179,andtheratio of the UAAL
to covered payroll was 104%.
The required contribution for calendar year 2011 was $2,073,818.
Funded Status and Funding Progress
Therequiredcontributionfor2011wasdetermined as part of theDecember31,2009actuarialvaluationusingthe
entryagenormalactuarialcostmethod.Theactuarialassumptions at December31,2009included(a)7.5%
investmentrate of return(net of administrativeanddirectinvestmentexpenses),(b)projectedsalaryincreases of
4.0%ayear,attributable to inflation,(c)additionalprojectedsalaryincreasesrangingfrom0.4%to 10.0%per
yeardepending on ageandservice,attributable to seniority/merit,and(d)postretirementbenefitincreases of 3%
annually.Theactuarialvalue of theVillageregularplanassetswasdeterminedusingtechniquesthatspreadthe
effects of short-termvolatility in themarketvalue of investmentsoverafive-yearperiodwitha20%corridor
betweentheactuarialandmarketvalue of assets.Theemployerregularplan'sunfundedactuarialaccruedliability
at December 31, 2009 is being amortized as a level percentage of projected payroll on an open 30 year basis.
-83-
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE J - EMPLOYEE RETIREMENT SYSTEMS (Continued)
2.Police Pension Fund
a.Plan Description
At December 31, 2011, the Police Pension Plan membership consisted of:
Membership
Retirees and beneficiaries currently receiving benefits and terminated employees
entitled to benefits but not yet receiving them 44
Current employees:
Vested 59
Nonvested 13
Total membership 116
Thefollowing is asummary of thePolicePensionPlan as providedfor in IllinoisStateStatutes.ThePolice
PensionPlanprovidesretirementbenefits as well as deathanddisabilitybenefits.Coveredemployeesattainingthe
age of 50 or morewith20 or moreyears of creditableserviceareentitled to receive an annualretirementbenefit
equal to one half of thesalaryattached to therankheld on thelastday of service,or for one yearprior to thelast
day,whichever is greater.Theannualbenefitshallbeincreasedby2.5%of suchsalaryforeachadditionalyear of
serviceover20yearsup to 30years,and1%of suchsalaryforeachadditionalyear of serviceover30years,to a
maximum of 75% of such salary. Employees with at least eight years but less than 20 years of credited service may
retire at or after age 60 and receive a reduced benefit.
Police-swornpersonnelarecoveredbythePolicePensionPlan,which is adefinedbenefitsingle-employerpension
plan.Althoughthis is asingle-employerpensionplan,thedefinedbenefitsandemployeeandemployercontribution
levelsaregovernedbyIllinoisStateStatutesandmaybeamendedonlybytheIllinoislegislature.Administrative
costsarefinancedthroughinvestmentearnings.TheVillageaccountsfortheplan as apensiontrustfund.An
actuarialvaluationwasperformed as of December31,2011,and,accordingly,themostrecentavailable
information has been presented.
Themonthlybenefit of apoliceofficerwhoretiredwith20 or moreyears of serviceafterJanuary1,1977shallbe
increasedannuallyfollowingthefirstanniversarydate of retirement,andbepaiduponreachingtheage of at least
55years,by3%of theoriginalpensionand3%simpleinterestannuallythereafter.EffectiveJanuary1,1993,the
secondandsubsequentpensionincreases(otherthandisabilitypensionincreases)willbecomputed on thecurrent
pension rather than the original pension.
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Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE J - EMPLOYEE RETIREMENT SYSTEMS (Continued)
2.Police Pension Fund (Continued)
a.Plan Description (Continued)
b.Summary of Significant Accounting Policies
Basis of Accounting
Method Used to Value Investments
State-mandatedpoliceemployeesarerequired to contribute9.91%of theirbasesalary to theplan.If an employee
leavescoveredemploymentwithlessthan20years of service,accumulatedemployeecontributionsmaybe
refundedwithoutaccumulatedinterest.TheVillage is required to contributetheremainingamountsnecessary to
financetheplan as actuariallydeterminedby an enrolledactuary.By theyear2033,theVillage'scontributions
mustaccumulate to thepointwherethepastservicecostfortheplan is fullyfunded.Thiscalculation is based
upon a level percent amortization for a closed period.
Investmentsarereported at fairvalue.Short-terminvestmentsarereported at cost,whichapproximatesfairvalue.
Securitiestraded on anational or internationalexchangearevalued at thelastreportedsalesprice at current
exchange rates. Investments that do not have an established market are reported at estimated fair value.
Thefinancialstatementsarepreparedusingtheaccrualbasis of accounting.Employeeandemployercontributions
arerecognized as revenues in theperiod in whichemployeeservicesareperformed.Benefitsandrefundsare
recognizedwhendueandpayable in accordancewiththeterms of theplan.No stand-alonestatementsareissued
for the defined benefit pension plan.
-85-
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE J - EMPLOYEE RETIREMENT SYSTEMS (Continued)
2.Police Pension Fund (Continued)
b.Summary of Significant Accounting Policies (Continued)
Methods and Assumptions
Valuation Date
Actuarial Cost Method
Actuarial Value of Assets
Amortization Method
Remaining Amortization Period
Actuarial Assumptions:
Projected Salary Increases
increases from 1.12% to 4.86% varying
Payroll Growth 4.5% per year
200% load for participants under age 50 and
22.5 Years
125% for participants age 50 and over.
Cost of Living Increases
TCG Basic Salary Table providing graded
Level Percentage of Payroll Closed
Investment Rate of Return 7.25% per year
December 31, 2011
Projected Unit Credit (Effective 1/1/2011)
by age, plus inflation rate shown below
Smoothed Market Value
3.00% per year
Inflation Rate 2.5% per year
Assumed Mortality
(seniority and merit)
RP-2000 Combined Healthy Mortality Table
(male) with blue collar adjustment and with a
-86-
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE J - EMPLOYEE RETIREMENT SYSTEMS (Continued)
2.Police Pension Fund (Continued)
b.Summary of Significant Accounting Policies (Continued)
Funding Status and Funding Progress
Valuation Date
Percent Funded 90.50%
Actuarial Accrued Liability for Benefits $59,435,239
Actuarial Value of Assets $53,788,060
Unfunded Actuarial
$ 5,647,179
Covered Payroll (Annual Payroll of
$ 6,603,509
Ratio of UAAL Covered Payroll 85.52%
Significant Investments
Accrued Liability (UAAL)
Thereare no significantinvestments(otherthanU.S.Government-guaranteedobligations)in any one organization
that represent 5% or more of net assets available for benefits.
Theschedule of fundingprogresspresented in theRequiredSupplementaryInformation(RSI)followingthenotes
thefinancialstatements,presentsmultiyeartrendinformationaboutwhethertheactuarialvalue of planassetsare
increasing or decreasing over time relative to the actuarial accrued liability for benefits.
Active Employees Covered by
December 31, 2011
the Plan
-87-
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE J - EMPLOYEE RETIREMENT SYSTEMS (Continued)
2.Police Pension Fund (Continued)
c.Annual Pension Cost and Net Pension Benefit
Annual required contribution $1,347,587
Interest on net pension benefit (61,342)
Adjustment to annual required contribution 56,033
Annual pension cost 1,342,278
Less:
Contributions made 1,767,986
(Increase) in net pension benefit (425,708)
Prepaid pension (benefit) at January 1, 2011 (1,011,683)
Prepaid pension (benefit) at December 31, 2011 $(1,437,391)
d.Trend Information
Fiscal Annual PercentageNet Pension
Year PensionActualof APCObligation
EndingCost (APC)ContributionContributed(Benefit)
12/31/11$1,342,278 $1,767,986 131.72%$(1,437,391)
12/31/101,340,760 1,802,629 134.45(1,011,683)
12/31/091,147,600 1,168,933 85.27(573,112)
TheVillage'smostrecentactuarialvaluationwasperformed as of December31,2011.TheVillage'sannual
pension cost and net pension benefit to the Police Pension Fund were as follows:
Three-Year Trend Information - Police Pension Trust Fund
-88-
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE J - EMPLOYEE RETIREMENT SYSTEMS (Continued)
3.Firefighters' Pension Fund
a.Plan Description
At December 31, 2011, the Firefighters' Pension Plan membership consisted of:
Membership
Retirees and beneficiaries currently receiving benefits and terminated employees
entitled to benefits but not yet receiving them 72
Current employees:
Vested 53
Nonvested 27
Total membership 152
Themonthlybenefit of aFirefighters'officerwhoretiredwith20 or moreyears of serviceafterJanuary1,1977
shallbeincreasedannuallyfollowingthefirstanniversarydate of retirement,andbepaiduponreachingtheage of
at least55years,by3%of theoriginalpensionand3%simpleinterestannuallythereafter.EffectiveJanuary1,
1993,thesecondandsubsequentpensionincreases(otherthandisabilitypensionincreases)willbecomputed on
the current pension rather than the original pension.
SwornfirefighterpersonnelarecoveredbytheFirefighters'PensionPlan,which is adefinedbenefitsingle-
employerpensionplan.Althoughthis is asingle-employerpensionplan,thedefinedbenefitsandemployeeand
employercontributionlevelsaregovernedbyIllinoisStateStatutesandmaybeamendedonlybytheIllinois
legislature.Administrativecostsarefinancedthroughinvestmentearnings.TheVillageaccountsfortheplan as a
pensiontrustfund.TheVillage'smostrecentactuarialvaluationwasperformed as of December31,2011,and,
accordingly, the most recent available information has been presented.
Thefollowing is asummary of theFirefighters'PensionPlan as providedfor in IllinoisStateStatutes.The
Firefighters'PensionPlanprovidesretirementbenefits as well as deathanddisabilitybenefits.Coveredemployees
attainingtheage of 50 or morewith20 or moreyears of creditableserviceareentitled to receive an annual
retirementbenefitequal to one half of thesalaryattached to therankheld on thelastday of service,or for one year
prior to thelastday,whichever is greater.Theannualbenefitshallbeincreasedby2.5%of suchsalaryforeach
additionalyear of serviceover20yearsup to 30years,and1%of suchsalaryforeachadditionalyear of service
over30years,to amaximum of 75%of suchsalary.Employeeswith at leasteightyearsbutlessthan20years of
credited service may retire at or after age 60 and receive a reduced benefit.
-89-
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE J - EMPLOYEE RETIREMENT SYSTEMS (Continued)
3.Firefighters' Pension Fund (Continued)
a.Plan Description (Continued)
b.Summary of Significant Accounting Policies
Basis of Accounting
Method Used to Value Investments
Coveredfirefighteremployeesarerequired to contribute9.455%of theirbasesalary to theplan.If an employee
leavescoveredemploymentwithlessthan20years of service,accumulatedemployeecontributionsmaybe
refundedwithoutaccumulatedinterest.TheVillage is required to contributetheremainingamountsnecessary to
financetheplan as actuariallydeterminedby an enrolledactuary.By theyear2033,theVillage'scontributions
mustaccumulate to thepointwherethepastservicecostfortheplan is fullyfunded.Thiscalculation is based
upon a level percent amortization for a closed period.
Investmentsarereported at fairvalue.Short-terminvestmentsarereported at cost,whichapproximatesfairvalue.
Securitiestraded on anational or internationalexchangearevalued at thelastreportedsalesprice at current
exchange rates. Investments that do not have an established market are reported at estimated fair value.
Thefinancialstatementsarepreparedusingtheaccrualbasis of accounting.Employeeandemployercontributions
arerecognized as revenues in theperiod in whichemployeeservicesareperformed.Benefitsandrefundsare
recognizedwhendueandpayable in accordancewiththeterms of theplan.No stand-alonestatementsareissued
for the defined benefit pension plan.
-90-
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE J - EMPLOYEE RETIREMENT SYSTEMS (Continued)
3.Firefighters' Pension Fund (Continued)
b.Summary of Significant Accounting Policies (Continued)
Methods and Assumptions
Valuation Date
Actuarial Cost Method
Actuarial Value of Assets
Remaining Amortization Period
Actuarial Assumptions:
December 31, 2011
7.25% per year
Level Percentage of Payroll Closed
4.5% per year
Projected Unit Credit (Effective 1/1/2011)
TCG Basic Salary Table providing graded
Amortization Method
Assumed Mortality
increases from 1.12% to 4.86% varying
200% load for participants under age 50 and
2.5% per year
125% for participants age 50 and over.
Inflation Rate
Payroll Growth
(male) with blue collar adjustment and with a
Cost of Living Increases
RP-2000 Combined Healthy Mortality Table
3.00% per year
by age, plus inflation rate shown below
Smoothed Market Value
Investment Rate of Return
(seniority and merit)
22.5 Years
Projected Salary Increases
-91-
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE J - EMPLOYEE RETIREMENT SYSTEMS (Continued)
3.Firefighters' Pension Fund (Continued)
b.Summary of Significant Accounting Policies (Continued)
Funding Status and Funding Progress
Valuation Date
Percent Funded 75.67%
Actuarial Accrued Liability for Benefits $75,563,246
Actuarial Value of Assets $57,176,567
Unfunded Actuarial
$18,386,679
Covered Payroll (Annual Payroll of
$ 7,195,162
Ratio of UAAL Covered Payroll 255.54%
Significant Investments
the Plan
Accrued Liability (UAAL)
Thereare no significantinvestments(otherthanU.S.Government-guaranteedobligations)in any one organization
that represent 5% or more of net assets available for benefits.
Theschedule of fundingprogresspresented in theRequiredSupplementaryInformation(RSI)followingthenotes
thefinancialstatements,presentsmultiyeartrendinformationaboutwhethertheactuarialvalue of planassetsare
increasing or decreasing over time relative to the actuarial accrued liability for benefits.
Active Employees Covered by
December 31, 2011
-92-
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE J - EMPLOYEE RETIREMENT SYSTEMS (Continued)
3.Firefighters' Pension Fund (Continued)
c.Annual Pension Cost and Net Pension Benefit
Annual required contribution $2,168,105
Interest on net pension benefit (35,403)
Adjustment to annual required contribution 32,339
Annual pension cost 2,165,041
Less:
Contributions made 2,806,961
(Increase) in net pension benefit (641,920)
Prepaid pension (benefit) at January 1, 2011 (996,751)
Prepaid pension (benefit) at December 31, 2011 $(1,638,671)
d.Trend Information
Fiscal Annual PercentageNet Pension
Year PensionActualof APCObligation
EndingCost (APC)ContributionContributed(Benefit)
12/31/11$2,165,041$2,806,961129.65%$(1,638,671)
12/31/10 2,159,2452,541,870102.31 (996,751)
12/31/09 1,652,0961,985,871102.31 (387,081)
TheVillage'smostrecentactuarialvaluationwasperformed as of December31,2011.TheVillage'sannual
pension cost and net pension benefit to the Firefighters' Pension Fund were as follows:
Three-Year Trend Information - Firefighters' Pension Trust Fund
-93-
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE J - EMPLOYEE RETIREMENT SYSTEMS (Continued)
4.Employee Retirement System - Defined Benefit Pension Plans
NOTE K - OTHER POSTEMPLOYMENT BENEFITS (OPEB)
1.Plan Description
At December 31, 2011, membership in the Plan consisted of the following:
Membership
Retirees and beneficiaries receiving benefits 64
Terminated employees entitled to but not yet receiving benefits -
Active vested plan members 207
Active nonvested plan members 87
Total membership 358
To beeligibleforbenefitsundertheplan,an employeemustqualifyforretirementunder oneof theVillage'sretirement
plans.Electedofficialsareeligibleforbenefits if theyqualifyforretirementthroughtheIllinoisMunicipalRetirement
Fund.
TheVillageprovidespostemploymenthealthcareandlifeinsurancebenefits(OPEB)forretiredemployeesthrougha
single-employerdefinedbenefitplan.Thebenefits,benefitlevels,employeecontributions,andemployercontributions
aregovernedbytheVillageandcanbeamendedbytheVillagethroughitspersonnelmanualandunioncontracts.The
plan is not accountedfor as atrustfund,asan irrevocabletrusthas not beenestablished to accountfortheplan.The
plan does not issue a separate report.
TheVillagecontributes to twodefinedbenefitpensionplans,thePolicePensionPlan,which is asingle-employer
pensionplan;andtheFirefighter'sPensionPlan,which is alsoasingle-employerpensionplan.Thebenefits,benefit
levels,employeecontributions,andemployercontributionsaregovernedbyIllinoisCompiledStatutesandcanonlybe
amended by the Illinois General Assembly.
AllhealthcarebenefitsareprovidedthroughtheVillage'sself-insuredhealthplan.Thebenefitlevelsarethesame as
thoseafforded to activeemployees.Benefitsincludegeneralinpatientandoutpatientmedicalservices;mental,
nervous,andsubstanceabusecare;visioncare;dentalcare;andprescriptions.UponaretireereachingMedicare
eligible age, Medicare becomes the primary insurer and the Village's plan becomes secondary.
-94-
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE K - OTHER POSTEMPLOYMENT BENEFITS (OPEB) (Continued)
2.Funding Policy
3.Annual OPEB Cost and Net OPEB Obligation
Amount
Annual Required Contribution (ARC)$560,562
Interest on net OPEB obligation 34,312
Adjustment to annual required contribution (22,875)
Annual OPEB cost 571,999
Contributions made 341,366
Increase in OPEB obligation 230,633
Net OPEB obligation at January 1, 2011 686,245
Net OPEB obligation at December 31, 2011 $916,878
TheVillage'smostrecentactuarialvaluationwasperformedfortheplan as of December31,2011.TheVillage's
annualotherpostemploymentbenefit(OPEB)cost is calculatedbased on theannualrequiredcontribution(ARC)of
theemployer.Thecontributionrepresentsalevel of fundingthat,if paid on an ongoingbasis,is projected to coverthe
normalcosteachyearand to amortizeanyunfundedactuarialliabilities or fundingexcessoveraperiod not to exceed
thirtyyears.Thefollowingtableshowsthecomponents of theVillage'sannualOPEBcostfortheyear,theamount
actuallycontributed to theplan,andchanges in theVillage'snetOPEBobligation to theVillage'sHealthInsurance
Plan for Retired Employees as of December 31, 2011.
TheVillagenegotiatesthecontributionpercentagesbetweentheVillageandemployeesthroughtheunioncontracts
andpersonnelpolicy.Allretireescontribute100%of theactuariallydeterminedpremium to theplanandtheVillage
contributestheremainder to coverthecost of providingthebenefits to theretireesviatheself-insuranceplan(pay-as-
you-go).SincetheVillage is self-insured,thisamountfluctuates on an annualbasis.Activeemployees donot
contribute to the plan until retirement.
-95-
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE K - OTHER POSTEMPLOYMENT BENEFITS (OPEB) (Continued)
4.Trend Information
Trend Information - Other Postemployment Benefits
FiscalAnnualPercentageNet
YearOPEBof OPEBOPEB
EndingCostContributedObligation
12/31/2011$571,99959.70%$916,878
12/31/2010 568,21960.10%686,245
12/31/2009 583,029144.40%459,392
5.Funding Policy and Actuarial Assumptions
Actuarialvaluations of an ongoingplaninvolveestimates of thevalue of reportedamountsandassumptionsaboutthe
probability of occurrence of eventsfarintothefuture.Examplesincludeassumptionsaboutfutureemployment,
mortality,andthehealthcarecosttrend.Amountsdeterminedregardingthefundedstatus of thePlanandtheannual
requiredcontributions of theemployeraresubject to continualrevision as actualresultsarecomparedwithpast
expectations and new estimates are made about the future.
Projections of benefitsforfinancialreportingpurposesarebased on thesubstantiveplan(theplan as understoodby
theemployerandtheplanmembers)andincludethetypes of benefitsprovided at thetime of eachvaluationandthe
historicalpattern of sharing of benefitcostsbetweentheemployerandtheplanmembers to thatpoint.Theactuarial
methodsandassumptionsusedincludetechniquesthataredesigned to reducetheeffects of short-termvolatility in
actuarialaccruedliabilitiesandtheactuarialvalue of assets,consistentwiththelong-termperspective of the
calculations.
TheVillage'sannualOPEBCost,thepercentage of annualOPEBcostcontributed to thePlan,andthenetOPEB
obligation for fiscal year 2011 is as follows:
-96-
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE K - OTHER POSTEMPLOYMENT BENEFITS (OPEB) (Continued)
5.Funding Policy and Actuarial Assumptions (Continued)
Village
Plan Members 0.00%
Entry Age
30 years
Market
5.00%
5.00%
8.00% initial
75%
December 31, 2011
Contribution rates:
Actuarial cost method
Asset valuation method
Remaining amortization period
Amortization period
Actuarial assumptions:
Mortatility, Turnover, Disability,
Employer provided benefit
Projected salary increases
6.00% ultimate
Healthcare inflation rate
Implicit: 40% of premium to age 65 (50% of
$620/mo + 50% of $1,235 /mo)
Level percentage of pay, open
Percentage of active employees
Assumed to elect benefit
Investment rate of return*
Retirement ages Same rates utilized for IMRF, Police, and Firefighter
Pension Funds
Explicit (eligible disabled pensioners): 100% of
premium for life.
*Includes inflation at 3.00%
Actuarial valuation date
The following simplifying assumptions were made:
-97-
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE K - OTHER POSTEMPLOYMENT BENEFITS (OPEB) (Continued)
6.Funding Status and Funding Progress
Actuarial Accrued Liability (AAL) $ 9,556,094
Actuarial Value of Plan Assets $ -
Unfunded Actuarial Accrued Liability (UAAL) $ 9,556,094
Funded Ratio (actuarial value of plan assets / AAL)0.00%
Covered Payroll (active plan members)$29,228,867
UAAL as a percentage of covered payroll 32.70%
1.Schedule of Fiduciary Net Plan Assets as of December 31, 2011
Total
PoliceFirefighters'Pension
Pension Pension Trust
Fund FundFunds
ASSETS
$ 2,254,279 $ 1,320,697 $ 3,574,976
29,054,579 24,373,425 53,428,004
- 1,231,575 1,231,575
21,277,390 23,819,624 45,097,014
87,664 101,887 189,551
24,606 39,544 64,150
- 1,977 1,977
52,698,518 50,888,729 103,587,247
LIABILITIES
$ 6,903 $ 2,049 $ 8,952
NET ASSETS
$ 52,691,615 $ 50,886,680 $ 103,578,295
NOTE L - PENSION TRUST FUNDS - FINANCIAL DATA
Due from primary government
Investments
U.S. government and agency obligations
Prepaid expenses
Equity mutual funds
Municipal obligations
Accrued interest receivable
Total assets
Accrued expenses
Theschedule of fundingprogresspresented in theRequiredSupplementaryInformation(RSI)followingthenotes to
thefinancialstatements,presentsmultiyeartrendinformationaboutwhethertheactuarialvalue of planassets is
increasing or decreasing over time relative to the actuarial accrued liability for benefits.
The funded status of the plan as of December 31, 2011, the date of the latest valuation, was as follows:
Held in trust for pension benefits
Cash and cash equivalents
-98-
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
2.Schedule of Changes in Fiduciary Net Plan Assets for the Year Ended December 31, 2011
Total
PoliceFirefighters'Pension
Pension Pension Trust
Fund FundFunds
Additions
Contributions
$ 1,767,986 $ 2,806,961 $ 4,574,947
654,408 680,302 1,334,710
2,422,394 3,487,263 5,909,657
1,349,699 5,410 1,355,109
789,681 725,667 1,515,348
(74,828) (130,443) (205,271)
2,064,552 600,634 2,665,186
4,486,946 4,087,897 8,574,843
Deductions
2,050,215 3,402,707 5,452,922
241,603 251,001 492,604
47,565 461,638 509,203
29,677 - 29,677
2,369,060 4,115,346 6,484,406
2,117,886 (27,449) 2,090,437
50,573,729 50,914,129 101,487,858
$ 52,691,615 $ 50,886,680 $ 103,578,295 Ending
Employer
Participant
Beginning
Change in net assets
Net assets held in trust for pension benefits
Contribution refunds
Total contributions
Retirement pensions
Total deductions
fair value of investments
Widow pensions
NOTE L - PENSION TRUST FUNDS - FINANCIAL DATA (Continued)
Net investment income
Total additions
Less investment expense
Interest income
Investment income
Disability pensions
Net appreciation in
-99-
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2011
NOTE M - FUND BALANCE REPORTING
General Fund
$ 13,600
117,824
$ 131,424
NOTE N - CONTINGENCIES
1.
2.Litigation
NOTE O - SUBSEQUENT EVENT
ManagementhasevaluatedsubsequenteventsthroughJune14,2012,thedatethesefinancialstatementswereavailable to
beissued.Managementhasdetermined no events or transactionshaveoccurredsubsequent to thebalancesheetdatethat
require disclosure in the financial statements, other than those described further below.
Amountsreceived or receivablefromgrantoragenciesaresubject to auditandadjustmentbygrantoragencies,
principallythefederalgovernment.Anydisallowedclaims,includingamountsalreadycollected,mayconstitutea
liability of theapplicablefunds.Theamount,if any,of expenditureswhichmaybedisallowedbythegrantorcannot
be determined at this time. The Village believes such amounts, if any, to be immaterial.
TheVillagehasseveralpendinglegalproceedingsthat,in theopinion of management,areordinaryroutinematters
incidental to thenormalbusinessconductedbytheVillage.In theopinion of management,theoutcome is neither
probable nor estimable,andtheultimatedispositions of suchproceedingsare not expected to haveamaterialadverse
effect on the Village's net assets or activities.
Prepaid items
Total nonspendable
Grants
Inventory
Nonspendable fund balance
As defined in NoteA-4,theVillagehadthefollowingcomponents of fundbalance in theGeneralfund at December31,
2011:
On May22,2012,theVillageboardapproved an ordinanceprovidingfortheissuance of $18,090,000GeneralObligation
Refunding Bonds, Series 2012A. These bonds will be issued by the Village in June 2012.
-100-
REQUIRED SUPPLEMENTARY INFORMATION
(Unaudited)
Actuarial Actuarial Active UAAL as a
ValuationActuarialAccruedUnfunded Members'Percentage
DateValue ofLiability (AAL)AAL FundedCoveredof Covered
at AssetsEntry Age(UAAL)Ratio PayrollPayroll
December 31(1)(2)(2) - (1)(1) / (2)(3)((2-1)/3)
Illinois Municipal Retirement Fund
2011$25,605,004 $41,668,646 $16,063,64261.45%$15,430,197 104.11 %
201025,016,549 40,760,603 15,744,05461.3715,393,325 102.28
200922,392,299 37,187,807 14,795,50860.2115,640,203 94.60
200817,094,534 33,814,187 16,719,65350.5516,344,000 102.30
200732,021,095 39,682,349 7,661,25480.6916,761,580 45.71
200635,302,566 39,555,254 4,252,68889.2515,776,237 26.96
Police Pension Fund
2010*$53,788,060 $59,435,239 $5,647,179 90.50%$6,603,509 85.52 %
200949,768,625 58,424,453 8,655,828 85.18 6,310,520 137.17
200846,437,539 55,244,848 8,807,309 84.06 6,584,950 133.75
200741,723,979 47,510,348 5,786,369 87.82 5,853,046 98.86
200638,840,397 45,524,891 6,684,494 85.32 5,591,810 119.54
200536,515,447 41,086,401 4,570,954 88.87 5,311,550 86.06
Firefighters' Pension Fund
2010*$57,176,567$75,563,246$18,386,679 75.67%$7,195,162255.54 %
200954,396,08273,324,30218,928,220 74.19 7,049,374268.51
200852,055,14468,781,88716,816,743 75.58 6,589,276255.21
200748,536,29265,958,67417,422,382 73.59 6,550,595265.97
200647,854,28761,763,24313,908,956 77.48 6,184,548224.90
200546,420,38858,999,10712,578,719 78.68 5,861,889214.58
* Most recent actuarial valuation date.
(Continued)
On amarketvaluebasis,theactuarialvalue of assets as of December31,2011 is $23,602,691.On amarketbasis,the
funded ratio would be 56.64%.
Village of Glenview, Illinois
Postemployment Benefit Plans
Schedules of Funding Progress
December 31, 2011
Required Supplementary Information (Unaudited)
-101-
Actuarial Actuarial Active UAAL as a
ValuationActuarialAccruedUnfunded Members'Percentage
DateValue ofLiability (AAL)AAL FundedCoveredof Covered
at AssetsEntry Age(UAAL)Ratio PayrollPayroll
December 31(1)(2)(2) - (1)(1) / (2)(3)((2-1)/3)
Other postemployment benefit plan
2011$- $9,556,094 $9,556,094 - %$29,228,867 32.70%
2010*- 8,695,668 8,695,668 - 26,967,070 32.25%
2009 - 8,695,668 8,695,668 - NANA
2008 - NA NANA NANA
2007 - 12,391,000 12,391,000 - 24,911,602 49.74%
* Results from prior year.
(Concluded)
Required Supplementary Information (Unaudited)
Schedules of Funding Progress (Continued)
December 31, 2011
TheVillageimplementedGASBStatementNo.45forthefiscalyearendedDecember31,2007.Informationforprior
years is not available.
Village of Glenview, Illinois
Postemployment Benefit Plans
-102-
Annual
Required
Calendar Employer Contributions Percentage
Year Contributions (ARC)Contributed
2011 $1,767,986 $1,347,587 $131.20 %
2010 1,802,629 1,370,885 131.49
2009 1,168,933 933,477 125.22
2008 1,393,628 1,081,786 128.83
2007 1,157,437 918,552 126.00
2006 930,687 940,502 98.96
Village of Glenview, Illinois
Police Pension Fund
Schedule of Employer Contributions
December 31, 2011
Required Supplementary Information (Unaudited)
-103-
Annual
Required
Calendar Employer ContributionsPercentage
Year Contributions (ARC)Contributed
2011$2,806,961 $2,160,105 $129.95 %
2010 2,541,870 1,941,060 103.95
2009 1,985,871 1,987,548 99.92
2008 1,805,026 1,712,540 105.40
2007 1,416,463 1,556,654 90.99
2006 1,081,738 904,808 119.55
Village of Glenview, Illinois
Firefighters' Pension Fund
Schedule of Employer Contributions
December 31, 2011
Required Supplementary Information (Unaudited)
-104-
Annual
Required
Calendar Employer ContributionsPercentage
Year Contributions (ARC)Contributed
2011$2,073,818 $2,073,818 $100.00 %
2010 1,988,818 1,988,818 100.00
2009 1,822,378 1,822,378 100.00
2008 1,619,690 1,619,690 100.00
2007 1,718,062 1,718,062 100.00
2006 1,618,642 1,618,642 100.00
Village of Glenview, Illinois
Illinois Municipal Retirement Fund
Schedule of Employer Contributions
Required Supplementary Information (Unaudited)
December 31, 2011
-105-
Variance
2011Over /
Original Final Actual(Under)
Revenues
Local taxes
Property taxes $10,770,000$10,770,000 $10,864,987 $94,987
Other taxes 13,148,75113,148,751 13,257,071 108,320
Licenses and permits 1,729,9791,729,979 1,859,161 129,182
Charges for services 3,666,5815,704,447 5,868,744 164,297
Fines and forfeitures 102,806102,806 181,361 78,555
Intergovernmental 20,717,328 20,717,328 21,907,633 1,190,305
Investment income 157,500163,300 67,220 (96,080)
Other revenues 300,000 300,000 3,660 (296,340)
Total revenues 50,592,945 52,636,611 54,009,837 1,373,226
Expenditures
Current
General government 11,980,14414,855,944 13,673,525 1,182,419
Public works 7,269,4678,572,332 7,883,609 688,723
Public safety 25,836,86925,515,113 25,605,994 (90,881)
Development 2,826,4002,785,682 2,448,822 336,860
Total expenditures 47,912,880 51,729,071 49,611,950 2,117,121
Excess of revenues
over expenditures 2,680,065 907,540 4,397,887 3,490,347
Other financing sources (uses)
Transfers in 659,182659,182 1,739,659 1,080,477
Transfers (out)(4,628,300) (4,208,300) (3,997,004) 211,296
Total other financing
sources (uses)(3,969,118) (3,549,118) (2,257,345) 1,291,773
Net change in fund balance$(1,289,053) $(2,641,578) 2,140,542 $4,782,120
Fund balance - beginning 22,077,484
Fund balance - ending $24,218,026
For the Year Ended December 31, 2011
Budget
Village of Glenview, Illinois
General Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance
Budget and Actual
-106-
Variance
2011 Over /
OriginalFinal Actual (Under)
Revenues
Local taxes
Property taxes $26,500,000 $26,500,000 $29,281,652 $2,781,652
Intergovernmental - - 248,874 248,874
Investment income 20,000 25,300 132,149 106,849
Charges for services - 14,180 17,180 3,000
Other revenues - - 176,503 176,503
Total revenues 26,520,000 26,539,480 29,856,358 3,316,878
Expenditures
General government 18,366,997 20,137,339 17,479,494 2,657,845
Debt service
Bond issuance costs - - 38,818 (38,818)
Principal 8,870,000 17,975,688 8,945,000 9,030,688
Interest and fiscal charges 2,253,588 2,253,588 2,903,359 (649,771)
Capital outlay - 8,750 8,694 56
Total expenditures 29,490,585 40,375,365 29,375,365 11,000,000
Deficiency of revenues over expenditures(2,970,585) (13,835,885) 480,993 14,316,878
Other financing sources (uses)
Payment to bond escrow agent - - (11,000,000) (11,000,000)
Proceeds from bond issuance - - 11,035,000 11,035,000
Transfers in 1,376,272 - 11,329,664 11,329,664
Transfers (out)(1,915,305) (276,277) (276,277) -
Total other financing sources (uses)(539,033) (276,277) 11,088,387 11,364,664
Net change in fund balance $(3,509,618) $(14,112,162) 11,569,380 $25,681,542
Fund balance (deficit), beginning (2,000,306)
Fund balance, ending $9,569,074
Budget
For the Year Ended December 31, 2011
Village of Glenview, Illinois
Special Tax Allocation Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance (Deficit)
Budget and Actual
-107-
NOTE 1 - LEGAL COMPLIANCE - BUDGETS
a.Budgets
1.
2.
3.The budget is legally enacted by the Board of Trustees.
4.
5.
b.Excess of Actual Expenditures/Expenses over Budget in Individual Funds
Excess
Police Pension Fund $ 40,708
Theproposedbudget is presented to thegoverningbody,theVillageBoard,forreview.TheVillage
Boardholdspublichearingsandmayaddto,subtractfrom,or changebudgets,butmay not changethe
form of the budget.
TheVillageManager is authorized to transferbudgetedamountsbetweendepartmentswithinanyfund;
however,anyrevisionsthatalterthetotalexpenditures/expenses of anyfundmustbeapprovedbythe
Village Board.
Thelevel of control(thelevel at whichexpendituresmay not exceedthebudget)is at thefundlevel.
Expendituresmay not legallyexceedbudgets at thefundlevel.TheVillageadoptedthebudget on
December 13, 2010 and amended the budget at various times throughout the year.
Fund
Budgetsareadopted on abasisconsistentwithgenerallyacceptedaccountingprinciples.Annualbudgetsare
adoptedfortheGeneralFund,specialrevenuefunds,debtservicefunds,andthecapitalprojectfunds on the
modifiedaccrualbasis;and,fortheenterprise,internalservice,andpensiontrustfunds on theaccrualbasis.
All annual budgets lapse at the end of the fiscal year.
The following funds had an excess of actual expenditures and transfers out over final budget:
TheVillagedoes not employtheencumbrancemethod of accounting to reservecurrentfundbalancefor
subsequent year expenditures.
Alldepartments of theVillagesubmitrequestsforbudget to theVillage'smanager so thatabudget
maybeprepared.Thebudget is preparedbyfundandincludesinformation on thepastyear,current
estimates, and requested budgets for the next fiscal year.
TheVillagefollowsthebudgetactandimplementsthefollowingproceduresnotedbelow in establishingthe
budgetary data reflected in the financial statements.
Village of Glenview, Illinois
Required Supplementary Information (Unaudited)
NOTES TO REQUIRED SUPPLEMENTARY INFORMATION
December 31, 2011
-108-
SUPPLEMENTAL INFORMATION
GeneralObligationTaxableBondSeriesof2009EFund -to accountformoniescollectedandpaidforthe
Series2009Etaxablebonds,issued in theamount of $28,125,000 to acquireland in theGlenviewNavalAir
Station Economic Development Project Area.
GeneralFund-agovernmentalfundused to accountfortheacquisitionanduse of resourceswhichare not
required to be accounted for in another fund.
MAJOR FUNDS
Notethatsummaries of theGeneralFundandthemajorspecialrevenuefundsareprovided in therequired
supplementaryinformationsection.Thedetailsforallmajorfundsarepresentedfirst in thesupplemental
information section due to their materiality.
GOVERNMENTAL FUND DESCRIPTIONS
GlenLandSalesFund-acapitalprojectfundused to accountforresourcesandexpendituresrelated to thesale
of properties in The Glen Tax Increment Financing (TIF) District.
VillagePermanentFund-acapitalprojectsfundused to accumulateandaccountforspecificportion of theland
salesproceeds of TheGlen.Twentypercent of thelandsalerevenuesaredesignatedforVillage-wide
improvementsandshort-termliquidity to theVillage'staxincrementfinancing(TIF)projectsencompassingThe
Glen.
SpecialTaxAllocationFund-aspecialrevenuefundused to accountfortheincrementalpropertytaxrevenue
that is generatedthroughthegrowth of theassessedvaluation at TheGlen,(formerlyreferred to as Glenview
NavalAirStation)andthe'Make-Whole'payments to corejurisdictionswithintheboundaries of theTax
IncrementDistrict.Thecorejurisdictionsconsistof:theVillage of Glenview,SchoolDistrict34,SchoolDistrict
225,theGlenviewParkDistrict,andtheGlenviewPublicLibrary,acomponentunit of theVillage.Thisfund
also accounts for the service and incentive fees within the Tax Increment District.
2011 2010
OriginalFinal Actual Actual
Local taxes
Property taxes for Village
Current year $2,698,548 $2,698,548 $2,712,886 $2,712,894
Prior year 60,000 60,000 (27,344) (1,629)
Property taxes - debt service
Current year 1,958,300 1,958,300 1,982,8011,982,397
Prior year - - 13,609 25,280
Property taxes - police and firefighters' pensions 4,487,876 4,487,876 4,574,975 4,344,498
Property taxes - other Village pensions 1,565,276 1,565,276 1,608,060 1,613,777
Total property taxes 10,770,000 10,770,000 10,864,987 10,677,217
Other taxes
Utility taxes
Natural gas 1,295,400 1,295,400 1,215,693 1,260,853
Electricity 2,179,024 2,179,024 2,085,157 2,112,715
Telecommunications 2,626,000 2,626,000 2,763,469 2,547,946
Hotel room tax 700,000 700,000 745,459 765,075
Amusement tax 102,000 102,000 92,899 98,095
Home rule sales tax 6,246,327 6,246,327 6,354,394 6,177,391
Total other taxes 13,148,751 13,148,751 13,257,071 12,962,075
Total local taxes 23,918,751 23,918,751 24,122,058 23,639,292
Licenses and permits
Business licenses 100,000 100,000 9,986 111,174
Liquor licenses 206,408 206,408 171,204 209,350
Building permits 1,350,000 1,350,000 1,614,849 2,727,180
Contractors' fees 54,571 54,571 21,043 51,413
Engineering fees - - 21,120 66,331
Oversized vehicle permits 8,000 8,000 4,685 6,580
Plan fees 11,000 11,000 16,274 18,583
Plan review fees - - - 215
Total licenses and permits 1,729,979 1,729,979 1,859,161 3,190,826
(Continued)
(With comparative totals for the year ended December 31, 2010)
Village of Glenview, Illinois
General Fund
Schedule of Detailed Revenues and Other Financing Sources - Budget and Actual
For the Year Ended December 31, 2011
Budget
-109-
2011 2010
OriginalFinal Actual Actual
Fees, fines, and service charges
Charges for services
Elevator inspection fees $- $- $- $20,100
Dog impound fees 2,000 2,000 2,680 260
Lease fees 746,900 746,900 819,233 961,721
Natural gas franchise fees 62,964 62,964 56,907 62,964
Cable franchise fees 525,000 525,000 594,733 516,036
Bidder fees 15,102 15,102 4,175 13,150
Development fees 235,815 235,815 77,453 -
Insurance reimbursements 1,410,000 1,410,000 1,476,241 1,494,255
Copies - - 2,831 -
Special event fees 3,800 3,800 - 3,800
Map sales - - 78 6
Facilities fees - - - 627,039
Support services fees - - - 73,593
Village of Golf inspection fees - - 1,020 1,700
Refuse and recycling charges
Bin sales - - 29,856 -
Yard waste sticker sales - 6,000 8,143 -
Tipping fees - 820,280 812,679 -
SWANCC recycling incentive - 15,000 126,780 -
Joint dispatch charges
911 surcharge - 335,000 331,838 -
Wireless 911 surcharge - 280,000 300,004 -
Fire communication sub. service - - 150 -
Grayslake Dispatch - 581,586 548,111 -
Other service charges
Police extra duty 300,000 300,000 385,285 352,659
Reimbursements 80,000 80,000 49,750 97,651
Supervision - - 9,649 10,653
Annexation fee - - - 612,966
Miscellaneous 100,000 100,000 54,865 145,575
Administrative fees for governmental funds
Glen Redevelopment Fund - - - 2,000
Glen Caretaker Fund - - - 2,000
Library Fund 85,000 85,000 85,000 85,000
SWANCC host community fees 100,000 100,000 91,283 91,720
Total charges for services 3,666,581 5,704,447 5,868,744 5,174,848
(Continued)
(With comparative totals for the year ended December 31, 2010)
Village of Glenview, Illinois
General Fund
Schedule of Detailed Revenues and Other Financing Sources - Budget and Actual (Continued)
For the Year Ended December 31, 2011
Budget
-110-
2011 2010
OriginalFinal Actual Actual
Fees, fines, and service charges (continued)
Fines and forfeitures
Traffic fines $100,000 $100,000 $130,877 $115,622
Other fines 2,806 2,806 50,484 19,161
Total fines and forfeitures 102,806 102,806 181,361 134,783
Total fees, fines, and service charges 3,769,387 5,807,253 6,050,105 5,309,631
Intergovernmental
Glenbrook Fire Protection District 2,692,382 2,692,382 2,484,704 2,613,963
Village of Golf Fire Protection Services 129,792 129,792 134,984 129,942
Road and bridge taxes
Current year 246,750 246,750 342,358 284,976
Prior year 10,000 10,000 48,978 11,086
Sales tax 12,311,928 12,311,928 12,792,723 12,336,353
Property replacement tax 203,121 203,121 214,898 244,202
Illinois income tax 3,444,333 3,444,333 3,823,315 3,497,759
Local use tax 488,873 488,873 655,076 588,758
Make-whole payment 1,190,149 1,190,149 1,241,190 1,155,484
Other intergovernmental
Grant proceeds - - 20,000 4,250
FEMA reimbursement - - 149,407 -
Miscellaneous intergovernmental - - - 2,327
Total intergovernmental 20,717,328 20,717,328 21,907,633 20,869,100
Investment income
Interest - savings - 700 22,810 14,964
Interest - investment 157,500 162,600 44,410 250,741
Total investment income 157,500 163,300 67,220 265,705
Other revenues
Sale of land held for resale 300,000 300,000 1,971 -
Miscellaneous - - 1,689 11,028
Total other revenues 300,000 300,000 3,660 11,028
Total revenues before other
financing sources 50,592,945 52,636,611 54,009,837 53,285,582
(Continued)
Village of Glenview, Illinois
General Fund
Schedule of Detailed Revenues and Other Financing Sources - Budget and Actual (Continued)
For the Year Ended December 31, 2011
(With comparative totals for the year ended December 31, 2010)
Budget
-111-
2011 2010
OriginalFinal Actual Actual
Other financing sources
Transfers in from other funds
Glenview Water Fund $- $- $- $342,059
North Maine Water and Sewer Fund - - - 347,359
North Maine Water and Sewer Fund
Glenview Sanitary Sewer Fund 32,905 32,905 32,905 31,948
Wholesale Water Fund 300,000 300,000 300,000 135,020
Special Tax Allocation Fund 276,277 276,277 276,277 -
Escrow Deposits Fund 50,000 50,000 35,595 53,072
Joint Dispatch Fund - - 15,604 -
Refuse and Recycling Fund - - 1,079,278 -
Total transfers in from other funds 659,182659,1821,739,659909,458
Total revenues and other
financing sources $51,252,127 $53,295,793 $55,749,496 $54,195,040
(Concluded)
Budget
(With comparative totals for the year ended December 31, 2010)
Village of Glenview, Illinois
General Fund
Schedule of Detailed Revenues and Other Financing Sources - Budget and Actual (Continued)
For the Year Ended December 31, 2011
-112-
2011 2010
Original Final ActualActual
General government
Village Board of Trustees
President and Board
Personnel $9,980 $9,980 $8,980 $9,689
Contractual services 51,295 51,295 38,556 46,240
Commodities 900 900 182 1,136
Other charges 500 500 469 2,650
Total President and Board 62,675 62,675 48,187 59,715
Special board appropriations
Personnel 53,999 28,999 28,699 756
Contractual services 241,025 241,025 232,862 243,562
Commodities - - - 976
Capital outlay 300,000 300,000 - -
Total special board appropriations 595,024 570,024 261,561 245,294
Total Village Board of Trustees 657,699632,699309,748305,009
Village Manager's office
Administration division
Personnel 807,814 840,130 821,409 721,331
Contractual services 106,906 275,349 225,134 183,233
Commodities - 1,334 1,334 250
Other charges 9,000 5,875 6,209 9,840
Total administration division 923,720 1,122,688 1,054,086 914,654
(Continued)
Village of Glenview, Illinois
General Fund
Schedule of Detailed Expenditures and Other Financing Uses - Budget and Actual
For the Year Ended December 31, 2011
(With comparative totals for the year ended December 31, 2010)
Budget
-113-
2011 2010
Original Final ActualActual
General government (continued)
Village Manager's office (continued)
Human resources division
Personnel $276,551 $269,814 $257,833 $275,578
Contractual services 19,649 54,940 52,896 58,284
Commodities - - 55 -
Other charges 1,204,348 1,192,180 1,195,457 745,354
Total human resources division 1,500,548 1,516,934 1,506,241 1,079,216
Communications division
Personnel 47,947 47,947 125,258 190,753
Contractual services 213,458 272,958 155,105 137,397
Commodities 2,410 2,410 2,141 1,248
Other charges - - 933 199
Total communications division 263,815 323,315 283,437 329,597
Legal
Contractual services 368,768 482,461 427,247 543,723
Total legal 368,768 482,461 427,247 543,723
Total Village Manager's office 3,056,851 3,445,398 3,271,011 2,867,190
Joint Dispatch
Personnel - 2,237,547 2,160,598 -
Contractual services - 137,679 130,432 -
Commodities - 21,640 21,166 -
Other charges - 18,955 10,320 -
Total joint dispatch - 2,415,821 2,322,516 -
Administration Services
Administration division
Personnel 253,902 265,541 272,335 -
Contractual services 2,089 2,089 1,177 -
Other charges 2,400 2,400 3,485 -
Total administration division 258,391 270,030 276,997 -
(Continued)
Village of Glenview, Illinois
General Fund
Schedule of Detailed Expenditures and Other Financing Uses - Budget and Actual (Continued)
For the Year Ended December 31, 2011
(With comparative totals for the year ended December 31, 2010)
Budget
-114-
2011 2010
Original Final ActualActual
General government (continued)
Administration Services (continued)
Finance
Personnel $257,174 $264,254 $267,136 $508,808
Contractual services 580,162 641,891 660,568 624,772
Other charges 6,950 12,579 10,744 4,503
Total finance 844,286 918,724 938,448 1,138,083
General government
Personnel 369,324 745,364 679,850 -
Contractual services 1,387,502 1,387,501 1,295,363 1,489,652
Commodities 41,950 37,086 33,419 38,478
Other charges 370,684 183,037 144,989 232,402
Total general government 2,169,460 2,352,988 2,153,621 1,760,532
Resolution center
Personnel 450,296 326,796 372,343 393,780
Total resolution center 450,296 326,796 372,343 393,780
CADD operations
Personnel 250,954 124,198 127,113 233,378
Contractual services 197,245 201,540 164,868 173,079
Other charges 950 950 350 250
Total CADD operations 449,149 326,688 292,331 406,707
Information technology (IT)
Contractual services 1,653,611 1,681,713 1,444,167 1,596,449
Commodities 140,456 140,456 110,280 93,328
Other charges 362,321 441,906 411,392 21,405
Total information technology 2,156,388 2,264,075 1,965,839 1,711,182
Total administration services 6,327,970 6,459,301 5,999,579 5,410,284
(Continued)
Budget
Village of Glenview, Illinois
General Fund
Schedule of Detailed Expenditures and Other Financing Uses - Budget and Actual (Continued)
For the Year Ended December 31, 2011
(With comparative totals for the year ended December 31, 2010)
-115-
2011 2010
Original Final ActualActual
General government (continued)
Capital projects department
Administration
Personnel $583,092 $531,429 $606,007 $887,752
Contractual services 50,330 59,710 50,860 23,492
Commodities 9,425 7,425 3,256 4,054
Other charges 47,155 47,155 32,429 19,148
Total administration 690,002 645,719 692,552 934,446
Facilities division
Personnel 285,785 300,248 285,226 418,092
Contractual services 604,927 587,421 549,720 636,995
Commodities 345,270 357,697 229,106 690,346
Other charges 11,640 11,640 14,067 12,176
Total facilities division 1,247,622 1,257,006 1,078,119 1,757,609
Design division - engineering
Personnel - - - 17,199
Other charges - - - 7,260
Total design division -
engineering - - - 24,459
Total capital projects
department 1,937,624 1,902,725 1,770,671 2,716,514
Total general government 11,980,144 14,855,944 13,673,525 11,298,997
Public works department
Personnel 3,714,262 3,847,369 3,518,619 3,497,722
Contractual services 1,553,602 2,558,176 2,278,895 1,182,532
Commodities 951,490 1,045,047 980,997 877,919
Other charges 850,113 921,820 906,101 1,029,466
Capital outlay 200,000 199,920 198,997 -
Total public works department 7,269,467 8,572,332 7,883,609 6,587,639
(Continued)
For the Year Ended December 31, 2011
(With comparative totals for the year ended December 31, 2010)
Village of Glenview, Illinois
General Fund
Schedule of Detailed Expenditures and Other Financing Uses - Budget and Actual (Continued)
Budget
-116-
2011 2010
Original Final ActualActual
Public safety
Police department
Personnel $9,537,266 $9,234,867 $9,332,172 $9,288,247
Contractual services 159,440 165,340 136,159 167,916
Commodities 135,462 126,062 111,416 130,412
Other charges 2,305,665 2,295,664 2,310,904 2,303,470
Capital outlay - - - 39,000
Total police department 12,137,833 11,821,933 11,890,651 11,929,045
Fire department
Fire operations
Personnel 9,819,587 9,793,593 9,835,514 9,955,058
Contractual services 135,857 178,600 128,631 137,905
Commodities 191,356 188,751 181,429 221,893
Other charges 3,546,636 3,526,636 3,564,574 3,201,925
Total fire operations 13,693,436 13,687,580 13,710,148 13,516,781
Emergency Service Disaster Agency
Contractual services 5,600 5,600 5,195 5,195
Total Emergency Service
Disaster Agency 5,600 5,600 5,195 5,195
Total fire department 13,699,036 13,693,180 13,715,343 13,521,976
Total public safety 25,836,869 25,515,113 25,605,994 25,451,021
Development department
Administration
Personnel 586,642 529,650 513,502 2,246,678
Contractual services 195,378 201,078 168,628 281,072
Commodities 5,700 5,300 3,612 7,518
Other charges 12,500 7,500 3,418 72,327
Total administration 800,220 743,528 689,160 2,607,595
(Continued)
(With comparative totals for the year ended December 31, 2010)
Budget
Village of Glenview, Illinois
General Fund
Schedule of Detailed Expenditures and Other Financing Uses - Budget and Actual (Continued)
For the Year Ended December 31, 2011
-117-
2011 2010
Original Final ActualActual
Development department (continued)
Building inspection
Personnel $1,221,186 $1,233,454 $1,151,030 $-
Contractual services 9,330 7,330 7,103 -
Commodities 1,975 1,975 564 -
Other charges 61,204 60,604 53,181 -
Total building inspection 1,293,695 1,303,363 1,211,878 -
Planning and zoning
Personnel 656,280 662,586 497,058 -
Contractual services 40,945 40,945 30,910 -
Other charges 35,260 35,260 19,816 -
Total planning and zoning 732,485 738,791 547,784 -
Total development department 2,826,400 2,785,682 2,448,822 2,607,595
Total current expenditures 47,912,880 51,729,071 49,611,950 45,945,252
Total expenditures 47,912,880 51,729,071 49,611,950 45,945,252
Other financing uses
Transfers to other funds
Joint Dispatch Fund 1,370,000 - - 1,156,034
Corporate Purpose Bond 2004 1,958,300 1,958,300 1,996,410 1,970,361
Capital Projects Fund 1,300,000 2,250,000 2,000,594 3,173,274
Total other financing uses 4,628,300 4,208,300 3,997,004 6,299,669
Total expenditures and
other financing uses $52,541,180 $55,937,371 $53,608,954 $52,244,921
(Concluded)
Village of Glenview, Illinois
General Fund
Schedule of Detailed Expenditures and Other Financing Uses - Budget and Actual (Continued)
For the Year Ended December 31, 2011
(With comparative totals for the year ended December 31, 2010)
Budget
-118-
2011 2010
Original Final Actual Actual
Revenues
Local taxes
Property taxes $26,500,000 $26,500,000 $29,281,652 $24,082,697
Intergovernmental - - 248,874 33,675
Investment income 20,000 25,300 132,149 144,380
Charges for services - 14,180 17,180 -
Other revenues - - 176,503 -
Total revenues 26,520,000 26,539,480 29,856,358 24,260,752
Expenditures
General government
Personnel - 564,475 568,435 -
Contractual services 18,366,997 19,370,981 16,762,021 15,341,923
Commodities - 148,738 112,253 -
Other charges - 53,145 36,785 -
Debt service
Bond issuance costs - - 38,818 -
Principal 8,870,000 17,975,688 8,945,000 8,690,000
Interest and other charges 2,253,588 2,253,588 2,903,359 2,595,068
Capital outlay - 8,750 8,694 -
Total expenditures 29,490,585 40,375,365 29,375,365 26,626,991
Deficiency of revenues over
expenditures (2,970,585) (13,835,885) 480,993 (2,366,239)
Other financing sources (uses)
Payment to bond escrow agent - - (11,000,000) -
Proceeds from bond issuance - - 11,035,000 -
Transfers in (out) to other funds
General Fund (276,277) (276,277) (276,277) -
Facilities Replacement Fund (5,000) - - -
Debt Service 2009E (660,938) - 1,404 (720,000)
Glen Redevelopment Fund (716,329) - 283,050 (628,010)
Glen Land Sales Fund 1,376,272 - 10,057,895 -
Glen Caretaker Fund (256,761) - 987,315 (1,916,612)
Total other financing sources (uses)(539,033) (276,277) 11,088,387 (3,264,622)
Net change in fund balance (deficit)$(3,509,618) $(14,112,162) 11,569,380 (5,630,861)
Fund balance (deficit)
Beginning (2,000,306) 3,630,555
Ending $9,569,074 $(2,000,306)
Budget
(With comparative totals for the year ended December 31, 2010)
Village of Glenview, Illinois
Special Tax Allocation Fund - Major Fund
Schedule of Detailed Revenues, Expenditures, and Changes in Fund Balance (Deficit) - Budget and Actual
For the Year Ended December 31, 2011
-119-
Original
and Final 2011 2010
Budget ActualActual
Revenues
Charges for services $156,000 $156,000 $156,000
Other revenue - - 204,818
Investment income 65,106 150,969 187,854
Total revenues 221,106 306,969 548,672
Expenditures
Development
Contribution to component
unit-Library 980,391 983,557 2,468,039
Total expenditures 980,391 983,557 2,468,039
Deficiency of revenues
over expenditures (759,285) (676,588) (1,919,367)
Other financing uses
Transfers to other funds
Capital Projects Fund (3,493,750) (4,629,035) (4,337,683)
Glenview Sanitary Sewer Fund (2,300,000) (147,340) -
Total other financing uses (5,793,750) (4,776,375) (4,337,683)
Net change in fund balance $(6,553,035) (5,452,963) (6,257,050)
Fund balance - beginning 36,055,660 42,312,710
Fund balance - ending $30,602,697 $36,055,660
Village of Glenview, Illinois
Village Permanent Fund - Major Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
For the Year Ended December 31, 2011
(With comparative totals for the year ended December 31, 2010)
-120-
2011 2010
OriginalFinal ActualActual
Revenues
Charges for services
Lease fees $14,180 $- $- $17,180
Investment income 1,000 - - 8,418
Total revenues 15,180 - - 25,598
Expenditures
Debt service
Interest and other - - - 21,690
Total expenditures - - - 21,690
Excess of revenues over expenditures 15,180 - - 3,908
Other financing uses
Transfers out to other funds
Special Tax Allocation Fund (1,376,272) - (10,057,895) -
Total other financing uses (1,376,272) - (10,057,895) -
Net change in fund balance $(1,361,092) $- (10,057,895) 3,908
Fund balance - beginning 10,057,895 10,053,987
Fund balance - ending $- $10,057,895
For the Year Ended December 31, 2011
Budget
(With comparative totals for the year ended December 31, 2010)
Village of Glenview, Illinois
Glen Land Sales Fund - Major Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
-121-
2011 2010
Original Final Actual Actual
Revenue
Investment income $- $- $- $316
Total revenue - - - 316
Expenditures
Debt service
Interest and other 661,938 - - 734,588
Total expenditures 661,938 - - 734,588
Deficiency of revenues over
expenditures (661,938) - - (734,272)
Other financing sources (uses)
Transfers in (out) from other funds
Special Tax Allocation Fund 660,938 - (1,404) 720,000
Total other financing sources (uses)660,938 - (1,404) 720,000
Net change in fund balance $(1,000) $- (1,404) (14,272)
Fund balance - beginning 1,404 15,676
Fund balance - ending $- $1,404
This fund was formerly called the General Obligation Taxable Bond Series of 2006B Fund.
Budget
(With comparative totals for the year ended December 31, 2010)
Village of Glenview, Illinois
General Obligation Taxable Bond Series of 2009E Fund - Major Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
For the Year Ended December 31, 2011
-122-
NONMAJOR SPECIAL REVENUE FUNDS
NONMAJOR DEBT SERVICE FUNDS
NONMAJOR FUNDS
MotorFuelTaxFund -to accountforrevenuesreceivedfromthestate of Illinoisforthelocalshare of themotor
fueltaxcollectionsandusedforstreetmaintenanceandconstruction.Statelawrequiresthatthesegasolinetaxes
be used to maintain streets.
GOVERNMENTAL FUND DESCRIPTIONS
RefuseandRecyclingFund -to accountforthefinancialactivity of thecommunity-widerecyclingprogram.
Theprogram is designed to licenseandmonitorprimescavengerservicesoperating in theresidentialareas of the
Village. Their activities are mainly involved with the collection and disposition of recyclable items.
JointDispatchFund -to accountforrevenuesdesignated to supporttheactivity of the911emergencyservice
system. Financial activity began in 1990, and the 911 system became operational in 1992.
ForeignFireInsuranceFund -to accountfora2%chargeimposedbythestate on insurancepremiumsreceived
fromcompanies not incorporated in thestate of Illinoisbutthatareengaged in providingfireinsurance in the
Village.Thesespecialrevenuesarerestricted to firedepartmentexpendituresapprovedbytheForeignFire
Insurance Board.
PoliceDepartmentSpecialAccountFund -to accountforrevenuesreceivedfromtheoffice of theIllinoisState
Police, which are restricted to various types of investigations.
GlenRedevelopmentFund -to accountforthetaxincrementfinancingresourcesaccumulatedandthe
expendituresincurred in thedevelopment of TheGlen.Thisfundwasformerlycalledthe"GNASRedevelopment
Fund."GNAS is an acronymforGlenviewNavalAirStation.Theareahasbeendevelopedand is now called
"The Glen."
GlenCaretakerFund -to accountforthetaxincrementfinancingresourcesaccumulatedandtheexpenditures
incurred in thecaretaking of TheGlen.Thisfundwasformerlycalledthe"GNASCaretakerFund."GNAS is an
acronym for Glenview Naval Air Station. The area has been developed and is now called "The Glen."
CorporatePurposeBondSeriesof2004Fund -to accountformoniescollectedandpaidfortheSeries2004A
and2004Bbonds,issued in theamount of $25,000,000 to financethecompletion of projects at TheGlen,and
$22,315,000 to build a new police department headquarters, respectively.
NONMAJOR CAPITAL PROJECT FUNDS
2006ABondProjectsFund -to accountforthe$10,000,000bondsissuedfor,andexpendituresassociatedwith,
infrastructure improvements within the Glenview Naval Air Station Economic Development Project Area.
NONMAJOR FUNDS (Continued)GOVERNMENTAL FUND DESCRIPTIONS (Continued)
CapitalProjectsFund -to accountforrevenuesandexpendituresinvolvedwithimprovementsthroughoutthe
Village which are not included in other capital project funds.
GlenCapitalProjectsFund (formerlycalledthe"1995GNASBondProjectsFund")-to accountfor
expenditures related to various development projects related to The Glen.
Total
SpecialDebt CapitalNonmajor
RevenueServiceProjectGovernmental
FundsFundFunds Funds
Cash and cash equivalents $629,606 $87,934 $3,924,074 $4,641,614
Investments 746,929 - 9,198,002 9,944,931
Receivables
Other - - 32,723 32,723
Due from other funds - 63,600 - 63,600
Due from other governments 94,002 - - 94,002
Total assets $1,470,537 $151,534 $13,154,799 $14,776,870
LIABILITIES AND FUND BALANCES
Liabilities
Accounts payable $- $- $1,974,057 $1,974,057
Other payables 157,000 - 292,021 449,021
Due to other funds - 80,975 - 80,975
Unearned revenues - - 186,788 186,788
Total liabilities 157,000 80,975 2,452,866 2,690,841
Fund balances
Restricted 1,313,537 70,559 10,701,933 12,086,029
Total fund balances 1,313,537 70,559 10,701,933 12,086,029
Total liabilities and fund balances$1,470,537 $151,534 $13,154,799 $14,776,870
Village of Glenview, Illinois
Nonmajor Governmental Funds
ASSETS
Combining Balance Sheet
December 31, 2011
-123-
Total
SpecialDebt CapitalNonmajor
RevenueServiceProjectGovernmental
Funds Fund Funds Funds
Revenues
Charges for services $- $- $69,251 $69,251
Intergovernmental 1,746,278 - 2,439,618 4,185,896
Other revenue 13,026 - 11,825 24,851
Investment income 7,227 3,411 36,502 47,140
Total revenues 1,766,531 3,411 2,557,196 4,327,138
Expenditures
Current
Public safety 104,441 - - 104,441
Contractual - - 860,841 860,841
Capital outlay 1,579,000 - 6,748,955 8,327,955
Debt service
Principal - 1,100,000 6,617 1,106,617
Interest and other - 858,800 - 858,800
Total expenditures 1,683,441 1,958,800 7,616,413 11,258,654
Deficiency of revenues
over expenditures 83,090 (1,955,389) (5,059,217) (6,931,516)
Other financing sources (uses)
Transfers in - 1,996,410 16,302,499 18,298,909
Transfers (out)(2,365,247) - (11,689,712) (14,054,959)
Total other financing sources (uses)(2,365,247) 1,996,410 4,612,787 4,243,950
Net change in fund balances (2,282,157) 41,021 (446,430) (2,687,566)
Fund balances - beginning 3,595,694 29,538 11,148,363 14,773,595
Fund balances - ending $1,313,537 $70,559 $10,701,933 $12,086,029
For the Year Ended December 31, 2011
Village of Glenview, Illinois
Nonmajor Governmental Funds
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances
-124-
Motor Refuse and Joint
Fuel Tax Recycling Dispatch
Fund Fund Fund
Cash and cash equivalents $268,795 $- $-
Investments 746,929 - -
Due from other governments 94,002 - -
Total assets $1,109,726 $- $-
LIABILITIES AND FUND BALANCES
Liabilities
Other payables $157,000 $- $-
Total liabilities 157,000 - -
Fund balances
Restricted 952,726 - -
Total fund balances 952,726 - -
Total liabilities and fund balances$1,109,726 $- $-
ASSETS
Village of Glenview, Illinois
Nonmajor Special Revenue Funds
Combining Balance Sheet
December 31, 2011
-125-
Police Department Total
Foreign Fire Special Glen Glen Nonmajor
Insurance AccountRedevelopmentCaretaker Special
Fund Fund Fund Fund Revenue Funds
$325,007 $35,804 $- $- $629,606
- - - - 746,929
- - - - 94,002
$325,007 $35,804 $- $- $1,470,537
- $- $- $- $157,000
- - - - 157,000
325,007 35,804 - - 1,313,537
325,007 35,804 - - 1,313,537
$325,007 $35,804 $- $- $1,470,537
-126-
Motor Refuse and Joint
Fuel Tax Recycling Dispatch
Fund Fund Fund
Revenues
Intergovernmental $1,663,398 $- $-
Other revenue - - -
Investment income 5,375 - -
Total revenues 1,668,773 - -
Expenditures
Current
Public safety - - -
Capital outlay 1,579,000 - -
Total expenditures 1,579,000 - -
Excess (deficiency) of revenues
over expenditures 89,773 - -
Other financing uses
Transfers (out)- (1,079,278) (15,604)
Total other financing uses - (1,079,278) (15,604)
Net change in fund balances 89,773 (1,079,278) (15,604)
Fund balances - beginning 862,953 1,079,278 15,604
Fund balances - ending $952,726 $- $-
Village of Glenview, Illinois
Nonmajor Special Revenue Funds
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances
For the Year Ended December 31, 2011
-127-
Police Department Total
Foreign Fire Special Glen Glen Nonmajor
Insurance AccountRedevelopmentCaretaker Special
Fund Fund Fund Fund Revenue Funds
$82,880 $- $- $- $1,746,278
- 13,026 - - 13,026
1,652 200 - - 7,227
84,532 13,226 - - 1,766,531
104,441 - - - 104,441
- - - - 1,579,000
104,441 - - - 1,683,441
(19,909) 13,226 - - 83,090
- - (283,050) (987,315) (2,365,247)
- - (283,050) (987,315) (2,365,247)
(19,909) 13,226 (283,050) (987,315) (2,282,157)
344,916 22,578 283,050 987,315 3,595,694
$325,007 $35,804 $- $- $1,313,537
-128-
2011 2010
OriginalFinal Actual Actual
Revenues
Intergovernmental
Motor fuel tax $1,570,000 $1,570,000 $1,663,398 $1,658,229
Investment income 1,800 1,800 5,375 4,723
Total revenues 1,571,800 1,571,800 1,668,773 1,662,952
Expenditures
Capital outlay - 2008 street projects - - - 1,360,651
Capital outlay - 2010 street projects - 9,000 9,000 -
Capital outlay - 2011 street projects 1,570,000 1,570,000 1,570,000 -
1,570,000 1,579,000 1,579,000 1,360,651
Net change in fund balance $1,800 $(7,200) 89,773 302,301
Fund balance - beginning 862,953 560,652
Fund balance - ending $952,726 $862,953
Village of Glenview, Illinois
Motor Fuel Tax Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
For the Year Ended December 31, 2011
(With comparative totals for the year ended December 31, 2010)
Budget
-129-
2011 2010
OriginalFinal Actual Actual
Revenues
Charges for services
Yard waste collection $6,000 $- $- $9,930
Recycling Incentive 15,000 - - -
Bin sales - - - 511
Tipping fees 820,280 - - 864,810
Total charges for services 841,280 - - 875,251
Intergovernmental - - - 20,952
Investment income 5,500 - - 5,543
Total revenues 846,780 - - 901,746
Expenditures
General government
Contractual services
SWANCC dumping fees 700,000 - - 639,664
Postage - - - 2,634
Printing and publishing 4,000 - - -
Commodities 16,000 - - 1,012,234
Total general government 720,000 - - 1,654,532
Excess (deficiency) of revenues
over expenditures 126,780 - - (752,786)
Other financing uses
Transfers (out) to other funds
General fund - - (1,079,278) -
Total other financing uses - - (1,079,278) -
Net change in fund balance $126,780 $- (1,079,278) (752,786)
Fund balance - beginning 1,079,278 1,832,064
Fund balance - ending $- $1,079,278
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
For the Year Ended December 31, 2011
(With comparative totals for the year ended December 31, 2010)
Budget
Village of Glenview, Illinois
Refuse and Recycling Fund
-130-
2011 2010
OriginalFinal Actual Actual
Revenues
Charges for services
911 surcharge $335,000 $- $- $375,064
Wireless 911 surcharge 280,000 - - 289,489
Alarm monitoring fees - - - 5,081
Total charges for services 615,000 - - 669,634
Intergovernmental 541,136 - - 464,790
Investment income 300 - - 1,173
Total revenues 1,156,436 - - 1,135,597
Expenditures
Public safety
Personnel 2,237,547 - - 2,213,306
Contractual services 181,046 - - 96,093
Commodities 4,749 - - 14,712
Other charges 100,740 - - 52,138
Total public safety 2,524,082 - - 2,376,249
Capital outlay - - - 2,775
Total expenditures 2,524,082 - - 2,379,024
Deficiency of revenues over
expenditures (1,367,646) - - (1,243,427)
Other financing sources (uses)
Transfers in (out) from other funds
General Fund 1,370,000 - (15,604) 1,156,034
Net change in fund balance $2,354 $- (15,604) (87,393)
Fund balance - beginning 15,604 102,997
Fund balance - ending $- $15,604
Budget
Village of Glenview, Illinois
Joint Dispatch Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
For the Year Ended December 31, 2011
(With comparative totals for the year ended December 31, 2010)
-131-
2011 2010
OriginalFinal Actual Actual
Revenues
Intergovernmental
Foreign fire insurance tax $60,000 $60,000 $82,880 $84,698
Investment income 700 700 1,652 911
Total revenues 60,700 60,700 84,532 85,609
Expenditures
Public safety
Contractual services 39,300 39,300 4,396 10,399
Commodities 20,700 65,141 100,045 45,056
Total expenditures 60,000 104,441 104,441 55,455
Net change in fund balance $700 $(43,741) (19,909) 30,154
Fund balance - beginning 344,916 314,762
Fund balance - ending $325,007 $344,916
Budget
Foreign Fire Insurance Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
(With comparative totals for the year ended December 31, 2010)
For the Year Ended December 31, 2011
Village of Glenview, Illinois
-132-
Original
and Final 2011 2010
Budget Actual Actual
Revenues
Investment income $100 $200 $207
Other revenue - 13,026 -
Total revenues 100 13,226 207
Expenditures
Current
Public safety
Other charges - - 1,710
Capital outlay 13,506 - 29,371
Total expenditures 13,506 - 31,081
Excess (deficiency) of revenues over expenditures (13,406) 13,226 (30,874)
Other financing sources
Proceeds from sale of capital assets - - 9,500
Net change in fund balance $(13,406) 13,226 (21,374)
Fund balance - beginning 22,578 43,952
Fund balance - ending $35,804 $22,578
Police Department Special Account Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
Village of Glenview, Illinois
For the Year Ended December 31, 2011
(With comparative totals for the year ended December 31, 2010)
-133-
2011 2010
OriginalFinal Actual Actual
Revenues
Investment income $300 $- $- $2,300
Total revenues 300 - - 2,300
Expenditures
General government
Personnel 459,610 - - 398,548
Contractual services 225,008 - - 168,841
Commodities 8,890 - - 4,752
Administrative fees - General Fund - - - 2,000
Other charges 22,821 - - 80,407
Total general government 716,329 - - 654,548
Deficiency of revenues over expenditures (716,029) - - (652,248)
Other financing sources (uses)
Transfers in (out) from other funds
General Fund 716,329 - (283,050) -
Special Tax Allocation Fund - - - 628,010
Total other financing sources (uses)716,329 - (283,050) 628,010
Net change in fund balance $300 $- (283,050) (24,238)
Fund balance - beginning 283,050 307,288
Fund balance - ending $- $283,050
Village of Glenview, Illinois
Glen Redevelopment Fund 1
For the Year Ended December 31, 2011
(With comparative totals for the year ended December 31, 2010)
1 ThisfundwasformerlycalledtheGNASRedevelopmentFund.GNAS is theacronymforGlenviewNavalAirStation,whichwas
developed into the area called 'The Glen.'
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
Budget
-134-
2011 2010
OriginalFinal Actual Actual
Revenues
Investment income $4,000 $- $- $11,082
Expenditures
General government - overhead
Personnel - - - 106,639
Contractual services 12,282 - - 32,287
Other charges 1,475 - - -
Administrative fees - General Fund - - - 2,000
Total general government - overhead 13,757 - - 140,926
Public works division
Capital outlay 8,750 - - 19,750
Personnel 104,865 - - -
Contractual services 751,564 - - 1,002,151
Commodities 103,979 - - -
Other charges 23,849 - - 202,065
Total public works division 993,007 - - 1,223,966
Total expenditures 1,006,764 - - 1,364,892
Deficiency of revenues over
expenditures (1,002,764) - - (1,353,810)
Other financing sources (uses)
Transfers in (out) from other funds
Special Tax Allocation Fund 256,761 - (987,315) 1,916,612
Total other financing sources (uses)256,761 - (987,315) 1,916,612
Net change in fund balance $(746,003) $- (987,315) 562,802
Fund balance - beginning 987,315 424,513
Fund balance - ending $- $987,315
1 This fund was formerly called the GNAS Caretaker Fund.
Budget
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
For the Year Ended December 31, 2011
(With comparative totals for the year ended December 31, 2010)
Glen1 Caretaker Fund
Village of Glenview, Illinois
-135-
Original
and Final 2011 2010
Budget Actual Actual
Revenues
Investment income $500 $3,411 $4,727
Total revenues 500 3,411 4,727
Expenditures
Debt service
Principal 1,100,000 1,100,000 1,050,000
Interest and other 858,800 858,800 895,550
Total expenditures 1,958,800 1,958,800 1,945,550
Deficiency of revenues over
expenditures (1,958,300) (1,955,389) (1,940,823)
Other financing sources (uses)
Transfer in from other funds 1,958,300 1,996,410 1,970,361
1,958,300 1,996,410 1,970,361
Net change in fund balance $- 41,021 29,538
Fund balance - beginning 29,538 -
Fund balance - ending $70,559 $29,538
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
For the Year Ended December 31, 2011
(With comparative totals for the year ended December 31, 2010)
Village of Glenview, Illinois
Corporate Purpose Bond Series of 2004 Fund
-136-
Glen2006ATotal
CapitalCapitalBondNonmajor
ProjectsProjectsProjectsCapital Project
FundFundFundFunds
Cash and cash equivalents$3,330,438 $593,636 $- $3,924,074
Investments 819,460 8,378,542 - 9,198,002
Receivables
Other - grant receivables31,448 - - 31,448
Other - 1,275 - 1,275
Total assets $4,181,346 $8,973,453 $- $13,154,799
LIABILITIES AND FUND BALANCES
Liabilities
Accounts payable$1,894,817 $79,240 $- $1,974,057
Other payables 183,729 108,292 - 292,021
Unearned revenues 186,788 - - 186,788
Total liabilities 2,265,334 187,532 - 2,452,866
Fund balances
Restricted 1,916,012 8,785,921 - 10,701,933
Total fund balances1,916,012 8,785,921 - 10,701,933
Total liabilities
and fund balances$4,181,346 $8,973,453 $- $13,154,799
ASSETS
Village of Glenview, Illinois
Nonmajor Capital Project Funds
Combining Balance Sheet
December 31, 2011
-137-
Glen2006ATotal
CapitalCapitalBondNonmajor
ProjectsProjectsProjectsCapital Project
FundFundFundFunds
Revenues
Charges for services $69,251 $- $- $69,251
Intergovernmental - grants and loans 1,324,958 1,114,660 - 2,439,618
Other revenue 11,825 - - 11,825
Investment income 11,087 25,415 - 36,502
Total revenues 1,417,121 1,140,075 - 2,557,196
Expenditures
Contractual 778,193 82,648 - 860,841
Capital outlay 6,148,109 600,846 - 6,748,955
Debt service
Principal 6,617 - - 6,617
Total expenditures 6,932,919 683,494 - 7,616,413
Excess (deficiency) of revenues
over expenditures (5,515,798) 456,581 - (5,059,217)
Other financing sources (uses)
Transfers in 7,098,653 9,203,846 - 16,302,499
Transfers (out)(1,415,723) (1,072,876) (9,201,113) (11,689,712)
Total other financing
sources (uses)5,682,930 8,130,970 (9,201,113) 4,612,787
Net change in fund balances 167,132 8,587,551 (9,201,113) (446,430)
Fund balances
Beginning 1,748,880 198,370 9,201,113 11,148,363
Ending $1,916,012 $8,785,921 $- $10,701,933
Village of Glenview, Illinois
Nonmajor Capital Project Funds
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances
For the Year Ended December 31, 2011
-138-
2011 2010
OriginalFinal Actual Actual
Revenues
Charges for service $- $- $69,251 $-
Intergovernmental - grants and loans 2,014,142 2,014,142 1,324,958 2,061,409
Other revenue 33,500 33,500 11,825 3,200
Investment income 1,500 1,500 11,087 6,295
Total revenues 2,049,142 2,049,142 1,417,121 2,070,904
Expenditures
Contractual - 1,144,378 778,193 603,453
Capital outlay 7,661,804 11,346,167 6,148,109 8,597,818
Debt service
Principal 24,557 24,557 6,617 -
Total expenditures 7,686,361 12,515,102 6,932,919 9,201,271
Deficiency of revenues over expenditures (5,637,219) (10,465,960) (5,515,798) (7,130,367)
Other financing sources (uses)
Transfers in from other funds
General Fund 1,300,000 2,250,000 2,000,594 3,173,274
Village Permanent Fund 3,493,750 3,493,750 4,629,035 4,337,683
Wholesale Water Fund 449,280 449,280 449,280 432,640
Special Service Area Bond Fund - - 19,744 434,906
Transfers (out) to other funds
Glenview Sanitary Sewer Fund - - (1,415,723) -
Total other financing sources (uses)5,243,030 6,193,030 5,682,930 8,378,503
Net change in fund balance $(394,189) $(4,272,930) 167,132 1,248,136
Fund balance - beginning 1,748,880500,744
Fund balance - ending $1,916,012$1,748,880
(With comparative totals for the year ended December 31, 2010)
Village of Glenview, Illinois
Capital Projects Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
For the Year Ended December 31, 2011
Budget
-139-
2011 2010
OriginalFinal Actual Actual
Revenues
Intergovernmental
Grant revenue $250,000 $250,000 $1,114,660 $301,099
Investment income - - 25,415 5,745
Total revenues 250,000 250,000 1,140,075 306,844
Expenditures
Contractual - 71,301 82,648 44,555
Capital outlay
2009 projects - - 5,000 2,040,308
2010 projects - 514,298442,751 -
2011 projects 3,050,1852,978,884153,095 -
Total expenditures 3,050,185 3,564,483 683,494 2,084,863
Excess (deficiency) of
revenues over expenditures $(2,800,185) $(3,314,483) $456,581 $(1,778,019)
Other financing sources (uses)
Transfers in from other funds
2006A Bond Projects Fund 2,800,185 2,800,185 9,201,113 -
Special Service Area Bond Fund - - 2,733 -
Transfers out to other funds
Commuter Parking Fund - - (1,072,876) -
Total other financing sources (uses)2,800,185 2,800,185 8,130,970 -
Net change in fund balance $- $(514,298) 8,587,551 (1,778,019)
Fund balance - beginning 198,370 1,976,389
Fund balance - ending $8,785,921 $198,370
(With comparative totals for the year ended December 31, 2010)
Village of Glenview, Illinois
Glen Capital Projects Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
For the Year Ended December 31, 2011
Budget
-140-
2011 2010
OriginalFinal Actual Actual
Revenues
Investment income $5,000 $- $- $82,460
Total revenues 5,000 - - 82,460
Other financing uses
Transfer out to other funds
Glen Capital Projects Fund (2,800,185) - (9,201,113) -
Net change in fund balance $(2,795,185) $- (9,201,113) 82,460
Fund balance - beginning 9,201,113 9,118,653
Fund balance - ending $- $9,201,113
2006A Bond Projects Fund
Budget
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
For the Year Ended December 31, 2011
(With comparative totals for the year ended December 31, 2010)
Village of Glenview, Illinois
-141-
GLENVIEW WATER FUND
NORTH MAINE WATER AND SEWER FUND
GLENVIEW SANITARY SEWER FUND
ENTERPRISE FUND DESCRIPTIONS
Enterprisefundsareproprietaryfundsestablished to accountforthefinancing of self-supportingactivities of
government units which render services on a user-charge basis to the general public.
FormerlycalledtheGlenviewWaterworksFund,thisfundaccountsfortheprovision of waterservices to the
propertyowners in theVillage.Allactivitiesnecessary to providesuchservicesareaccountedfor in thisfund
including,but not limitedto,administration,operations,maintenance,financingandrelateddebtservice,and
billing and collections.
Thisenterprisefundaccountsfortheprovision of waterandsewerservices to thepropertyowners in an
unincorporatedareasouthwest of theVillage.ThisareawasformerlyservedbytheNorthSuburbanPublic
UtilitiesCompany.Allactivitiesnecessary to providesuchservicesareaccountedfor in thisfundincluding,but
not limitedto,administration,operations,maintenance,financingandrelateddebtservice,andbillingand
collections.
CommuterParkingLotFund -to accountfortheoperation of theVillage'scommuterparkingfacilities,
including administration, sale of permits, and maintenance of the lots.
MAJOR ENTERPRISE FUNDS
NONMAJOR ENTERPRISE FUNDS
WholesaleWaterFund -to accountfortheprovision of waterservice to theIllinoisAmericanWaterCompany,
enabling the private utility to receive Lake Michigan water.
FormerlycalltheSewerageFund,thisfundaccountsfortheprovision of sanitarysewerservices to property
owners in bothincorporatedandunincorporatedareas of theVillage.Allactivitiesnecessary to providesuch
servicesareaccountedfor in thisfundincluding,but not limitedto,administration,operations,maintenance,
financing and related debt service, and billing and collections.
2011 2010
OriginalFinalActualActual
Operating revenues
Charges for sales and services
Water charges $9,322,124 $9,322,124 $9,460,651 $8,747,464
Water connection charges 100,000 100,000 51,477 119,260
Water meter and remote readers 11,000 11,000 1,342 734
Total charges for sales and services9,433,124 9,433,124 9,513,470 8,867,458
Miscellaneous revenue
Late payment fees 100,000 100,000 175,010 154,081
Water for construction 10,000 10,000 17,605 14,690
Recapture agreement - - 4,504 -
Other 15,000 15,000 41,016 9,251
Total miscellaneous revenue 125,000 125,000 238,135 178,022
Total operating revenues9,558,124 9,558,124 9,751,605 9,045,480
Operating expenses
Water services
Personnel 1,612,457 1,612,457 1,668,424 1,618,873
Contractual services 4,572,277 4,690,583 4,172,392 3,882,389
Commodities 831,060 841,489 758,802 416,636
Capital outlay 2,179,163 2,431,775 469,967 1,026,744
Other charges 655,088 1,142,348 392,583 1,172,061
Total water services 9,850,045 10,718,652 7,462,168 8,116,703
Depreciation and amortization - - 1,123,335 1,069,468
Total operating expenses 9,850,045 10,718,652 8,585,503 9,186,171
Operating income (loss)(291,921) (1,160,528) 1,166,102 (140,691)
(Continued)
Village of Glenview, Illinois
Glenview Water Fund - Major Fund
Schedule of Revenues, Expenses, and Changes in Net Assets - Budget and Actual
For the Year Ended December 31, 2011
Budget
(With comparative totals for the year ended December 31, 2010)
-142-
2011 2010
OriginalFinalActualActual
Nonoperating revenues (expenses)
Investment income $7,500 $7,500 $8,186 $11,891
Interest and other (69,985) (69,685) (69,091) (79,236)
Grant proceeds - - 27,854 -
Loss on sale of capital assets - - (140,872) (16,629)
Total nonoperating revenues (expenses)(62,485) (62,185) (173,923) (83,974)
Net income (loss) before transfers (354,406) (1,222,713) 992,179 (224,665)
Transfers in (out)
Transfer in from other funds
Facilities Replacement Fund 882,000 882,000 882,000 -
Transfer (out) to other funds
Facilities Replacement Fund (488,260) - - (342,059)
Total transfers in (out)393,740 882,000 882,000 (342,059)
Change in net assets $39,334 $(340,713) 1,874,179 (566,724)
Net assets - beginning of year 33,544,305 34,111,029
Net assets - end of year $35,418,484 $33,544,305
(Concluded)
For the Year Ended December 31, 2011
Budget
(With comparative totals for the year ended December 31, 2010)
Village of Glenview, Illinois
Glenview Water Fund - Major Fund
Schedule of Revenues, Expenses, and Changes in Net Assets - Budget and Actual (Continued)
-143-
2011 2010
OriginalFinalActualActual
Operating revenues
Charges for sales and services
Water charges $7,502,040 $7,502,040 $7,559,820 $6,962,363
Water meter and remote readers - - 384 -
Sewer charges 444,523 444,523 451,682 414,764
Total charges for sales and services7,946,563 7,946,563 8,011,886 7,377,127
Miscellaneous revenue
Late payment fees 105,000 105,000 106,774 95,296
Other 1,000 1,000 1,375 1,250
Total miscellaneous revenue 106,000 106,000 108,149 96,546
Total operating revenues 8,052,563 8,052,563 8,120,035 7,473,673
Operating expenses
Water and sewer distribution
Personnel 847,179 847,179 785,922 819,097
Contractual services 5,648,305 5,646,818 4,740,923 4,629,812
Commodities 269,375 271,142 152,541 111,503
Capital outlay
Water mains 230,061 335,565 36,515 95,101
Machinery and equipment 1,200 920 693 1,230
Other 345,261 345,260 71,673 170,330
Operating expenses before
depreciation and amortization7,341,381 7,446,884 5,788,267 5,827,073
(Continued)
Village of Glenview, Illinois
North Maine Water and Sewer Fund - Major Fund
Schedule of Revenues, Expenses, and Changes in Net Assets - Budget and Actual
For the Year Ended December 31, 2011
(With comparative totals for the year ended December 31, 2010)
Budget
-144-
2011 2010
OriginalFinalActualActual
Operating expenses (continued)
Depreciation and amortization $- $- $198,567 $194,971
Total operating expenses 7,341,381 7,446,884 5,986,834 6,022,044
Operating income 711,182 605,679 2,133,201 1,451,629
Nonoperating revenues (expenses)
Investment income 3,150 3,150 7,557 4,579
Interest and other (223,096) (223,096) (210,918) (245,836)
Total nonoperating revenues (expenses)(219,946) (219,946) (203,361) (241,257)
Net income before transfers 491,236 385,733 1,929,840 1,210,372
Transfers (out)
Capital Projects Fund - - - (434,906)
Administration fee - General Fund - - - (347,359)
Total transfers (out)- - - (782,265)
Change in net assets $491,236 $385,733 1,929,840 428,107
Net assets - beginning of year 2,180,609 1,752,502
Net assets - end of year $4,110,449 $2,180,609
(Concluded)
Budget
For the Year Ended December 31, 2011
(With comparative totals for the year ended December 31, 2010)
Village of Glenview, Illinois
North Maine Water and Sewer Fund - Major Fund
Schedule of Revenues, Expenses, and Changes in Net Assets - Budget and Actual (Continued)
-145-
2011 2010
OriginalFinalActualActual
Operating revenues
Charges for sales and services
Sewer charges $2,442,956 $2,442,956 $2,304,456 $2,111,198
Sewer connection charges 4,000 4,000 2,550 3,350
Total charges for sales and services2,446,956 2,446,956 2,307,006 2,114,548
Miscellaneous revenue
Other - - 7,022 -
Total operating revenues 2,446,956 2,446,956 2,314,028 2,114,548
Operating expenses
Sewerage services
Personnel 427,121 427,121 412,905 331,000
Contractual services 88,072 489,680 293,438 116,581
Commodities 31,346 32,065 24,719 26,625
Other charges 109,230 132,890 133,637 109,612
Capital outlay
Machinery and equipment 3,749,343 3,449,908 393,407 946,198
Total operating expenses
before depreciation 4,405,112 4,531,664 1,258,106 1,530,016
Depreciation and amortization - - 401,186 356,097
Total operating expenses4,405,112 4,531,664 1,659,292 1,886,113
Operating income (loss)(1,958,156) (2,084,708) 654,736 228,435
(Continued)
Village of Glenview, Illinois
Glenview Sanitary Sewer Fund - Major Fund
Schedule of Revenues, Expenses, and Changes in Net Assets - Budget and Actual
For the Year Ended December 31, 2011
(With comparative totals for the year ended December 31, 2010)
Budget
-146-
2011 2010
OriginalFinalActualActual
Nonoperating revenues (expenses)
Fines and fees
Heatherfield $6,000 $6,000 $7,479 $8,520
Investment income 4,200 4,200 5,120 5,313
Interest and other (290,373) (290,373) (54,286) (62,244)
Loss on disposal of capital assets - - (87,876) (11,099)
Total nonoperating revenues (expenses)(280,173) (280,173) (129,563) (59,510)
Net income (loss) before transfers (2,238,329) (2,364,881) 525,173 168,925
Transfers in (out)
Transfer in from other funds
Village Permanent Fund 2,300,000 2,300,000 147,340 -
Special Service Area Bond Fund - - 19,637 -
Capital Projects Fund - - 1,415,723 -
Transfer (out) to other fund
Facilities Replacement Fund (23,660) - - -
Administrative fees - General Fund (32,905) (32,905) (32,905) (31,948)
Total transfers in (out)2,243,435 2,267,095 1,549,795 136,977
Change in net assets $5,106 $(97,786) 2,074,968 136,977
Net assets - beginning of year 14,088,352 13,951,375
Net assets - end of year $16,163,320 $14,088,352
(Concluded)
For the Year Ended December 31, 2011
Budget
(With comparative totals for the year ended December 31, 2010)
Village of Glenview, Illinois
Glenview Sanitary Sewer Fund - Major Fund
Schedule of Revenues, Expenses, and Changes in Net Assets - Budget and Actual (Continued)
-147-
Total
WholesaleCommuterNonmajor
WaterParkingEnterprise
Fund Fund Funds
ASSETS
Current assets
Cash and cash equivalents $259,846 $682,910 $942,756
Investments 479,427 200,180 679,607
Accounts receivable, net of uncollectibles 314,778 - 314,778
Due from other governments - 4,167 4,167
Total current assets 1,054,051 887,257 1,941,308
Noncurrent assets
Deferred bond issuance costs 2,694 - 2,694
Capital assets, not being depreciated
Land - 500,000 500,000
Capital assets being depreciated
Land improvements - parking facilities - 2,369,780 2,369,780
Machinery and equipment - 13,283 13,283
Water distribution system 2,512,633 - 2,512,633
Accumulated depreciation (1,179,801) (533,534) (1,713,335)
Total noncurrent assets 1,335,526 2,349,529 3,685,055
Total assets 2,389,577 3,236,786 5,626,363
(Continued)
Village of Glenview, Illinois
Nonmajor Enterprise Funds
Combining Statement of Net Assets
December 31, 2011
-148-
Total
WholesaleCommuterNonmajor
WaterParkingEnterprise
Fund Fund Funds
LIABILITIES
Current liabilities
Accounts payable $132,320 $24,401 $156,721
Accrued payroll 149 - 149
Accrued interest payable 722 - 722
Current portion of long-term liabilities 220,808 - 220,808
Total current liabilities 353,999 24,401 378,400
NET ASSETS
Invested in capital assets, net of related debt 1,112,024 2,349,529 3,461,553
Unrestricted 923,554 862,856 1,786,410
Total net assets $2,035,578 $3,212,385 $5,247,963
(Concluded)
Combining Statement of Net Assets (Continued)
December 31, 2011
Village of Glenview, Illinois
Nonmajor Enterprise Funds
-149-
Total
WholesaleCommuterNonmajor
Water Parking Enterprise
Fund Fund Funds
Operating revenues
Charges for sales and services
Water sales $2,156,636 $- $2,156,636
Parking meter fees - 151,956 151,956
Parking decals - 364,435 364,435
Total charges for sales and services 2,156,636 516,391 2,673,027
Miscellaneous revenues - 9,600 9,600
Total operating revenues 2,156,636 525,991 2,682,627
Operating expenses
Operations 1,035,360 318,659 1,354,019
Depreciation and amortization 67,910 67,585 135,495
Total operating expenses 1,103,270 386,244 1,489,514
Operating income 1,053,366 139,747 1,193,113
Nonoperating revenues (expenses)
Investment income 3,054 2,890 5,944
Interest and other (16,724) - (16,724)
Total nonoperating revenues (expenses)(13,670) 2,890 (10,780)
Net income before transfers 1,039,696 142,637 1,182,333
(Continued)
Village of Glenview, Illinois
Nonmajor Enterprise Funds
Combining Statement of Revenues, Expenses, and Changes in Net Assets
For the Year Ended December 31, 2011
-150-
Total
WholesaleCommuterNonmajor
Water Parking Enterprise
Fund Fund Funds
Transfer in (out)
Transfers in (out) to other funds $(749,280) $1,072,876 $323,596
Total transfers in (out) (749,280) 1,072,876 323,596
Change in net assets 290,416 1,215,513 1,505,929
Net assets - beginning of year 1,745,162 1,996,872 3,742,034
Net assets - end of year $2,035,578 $3,212,385 $5,247,963
(Concluded)
Combining Statement of Revenues, Expenses, and Changes in Net Assets (Continued)
For the Year Ended December 31, 2011
Village of Glenview, Illinois
Nonmajor Enterprise Funds
-151-
Commuter Total
WholesaleParking LotNonmajor
Water FundFundEnterprise Funds
Cash flows from operating activities
Cash received from customers and users $2,015,678 $525,991 $2,541,669
Cash payments for goods and services (980,612) (300,071) (1,280,683)
Cash payments to employees (74,061) - (74,061)
Net cash provided by operating activities 961,005 225,920 1,186,925
Cash flows from noncapital financing activities
Interfund transactions (749,280) 1,072,876 323,596
Net cash provided by (used in) a noncapital
financing activities (749,280) 1,072,876 323,596
Cash flows from capital and related financing activities
Purchases and disposals of capital assets - (1,072,876) (1,072,876)
Principal payments (220,000) - (220,000)
Interest payments (17,403) - (17,403)
Net cash used in capital and related
financing activities (237,403) (1,072,876) (1,310,279)
Cash flows from investing activities
Purchases of investments (300,796) (200,180) (500,976)
Interest received 3,054 2,890 5,944
Net cash used in investing activities (297,742) (197,290) (495,032)
Net increase (decrease) in
cash and cash equivalents (323,420) 28,630 (294,790)
Cash and cash equivalents, beginning of year 583,266 654,280 1,237,546
Cash and cash equivalents, end of year $259,846 $682,910 $942,756
(Continued)
Village of Glenview, Illinois
Nonmajor Enterprise Funds
Combining Statement of Cash Flows
For the Year Ended December 31, 2011
-152-
Commuter Total
WholesaleParking LotNonmajor
Water FundFundEnterprise Funds
Reconciliation of operating income to net cash
provided by operating activities
Operating income $1,053,366 $139,747 $1,193,113
Adjustments to reconcile operating income to
net cash provided by operating activities
Depreciation and amortization 67,910 67,585 135,495
Changes in assets and liabilities
Accounts receivable (140,958) - (140,958)
Accounts payable (18,850) 18,588 (262)
Accrued payroll (463) - (463)
Total changes in assets and liabilities (160,271) 18,588 (141,683)
Net cash provided by operating activities $961,005 $225,920 $1,186,925
(Concluded)
For the Year Ended December 31, 2011
Village of Glenview, Illinois
Nonmajor Enterprise Funds
Combining Statement of Cash Flows (Continued)
-153-
2011 2010
OriginalFinalActualActual
Operating revenues
Charges for sales and services
Water sales $2,054,583 $2,054,583 $2,156,636 $1,997,367
Total operating revenues 2,054,583 2,054,583 2,156,636 1,997,367
Operating expenses
Personnel 76,826 76,826 73,598 60,823
Contractual services 964,862 964,512 925,966 893,371
Commodities 16,935 17,285 10,006 651
Other charges 25,789 29,169 25,790 36,311
Total operating expenses before depreciation1,084,412 1,087,792 1,035,360 991,156
Depreciation and amortization - - 67,910 67,910
Total operating expenses 1,084,412 1,087,792 1,103,270 1,059,066
Operating income 970,171 966,791 1,053,366 938,301
Nonoperating revenues (expenses)
Investment income 1,600 1,600 3,054 2,026
Debt service
Principal (220,000) (220,000) - -
Interest and other (17,202) (17,202) (16,724) (24,140)
Total nonoperating revenues (expenses)(235,602) (235,602) (13,670) (22,114)
Net income before transfers 734,569 731,189 1,039,696 916,187
(Continued)
Village of Glenview, Illinois
Wholesale Water Fund
Schedule of Revenues, Expenses, and Changes in Net Assets - Budget and Actual
For the Year Ended December 31, 2011
(With comparative totals for the year ended December 31, 2010)
Budget
-154-
2011 2010
OriginalFinalActualActual
Transfers (out) to other funds
Administration fee - General Fund $(300,000) $(300,000)$(300,000) $(135,020)
Capital Projects Fund (449,280) (449,280) (449,280) (432,640)
Facilities Replacement Fund (3,380) - - -
Total transfers (out) to other funds (752,660) (749,280) (749,280) (567,660)
Change in net assets $(18,091) $(18,091) 290,416 348,527
Net assets - beginning of year 1,745,162 1,396,635
Net assets - end of year $2,035,578 $1,745,162
(Concluded)
Village of Glenview, Illinois
For the Year Ended December 31, 2011
Schedule of Revenues, Expenses, and Changes in Net Assets - Budget and Actual (Continued)
Wholesale Water Fund
Budget
(With comparative totals for the year ended December 31, 2010)
-155-
2011 2010
OriginalFinalActualActual
Operating revenues
Charges for sales and services
Parking meter fees $115,000 $115,000 $151,956 $161,339
Parking decals 372,000 372,000 364,435 353,305
Total charges for sales and services 487,000 487,000 516,391 514,644
Miscellaneous revenues
Vendor lease rental fee 9,600 9,600 9,600 9,600
Total operating revenues 496,600 496,600 525,991 524,244
Operating expenses
Contractual services 304,372 306,259 203,464 270,944
Commodities 54,522 52,635 47,637 19,035
Other charges 7,557 23,557 63,583 49,365
Capital outlay
Machinery and equipment 4,000 4,000 3,975 108
Total operating expenses before
depreciation 370,451 386,451 318,659 339,452
Depreciation - - 67,585 43,744
Total operating expenses 370,451 386,451 386,244 383,196
Operating income 126,149 110,149 139,747 141,048
(Continued)
For the Year Ended December 31, 2011
Commuter Parking Fund
(With comparative totals for the year ended December 31, 2010)
Schedule of Revenues, Expenses, and Changes in Net Assets - Budget and Actual
Village of Glenview, Illinois
Budget
-156-
2011 2010
OriginalFinalActualActual
Nonoperating revenues
Investment income $250 $250 $2,890 $610
Miscellaneous - traffic fines - - - 400
Total nonoperating revenues 250 250 2,890 1,010
Net income before transfers 126,399 110,399 142,637 142,058
Transfers in (out) to other fund
Facilities Replacement Fund (16,000) - 1,072,876 -
Total transfers in (out)(16,000) - 1,072,876 -
Change in net assets $110,399 $110,399 1,215,513 142,058
Net assets - beginning of year 1,996,872 1,854,814
Net assets - end of year $3,212,385 $1,996,872
(Concluded)
Budget
(With comparative totals for the year ended December 31, 2010)
Village of Glenview, Illinois
Commuter Parking Fund
Schedule of Revenues, Expenses, and Changes in Net Assets - Budget and Actual (Continued)
For the Year Ended December 31, 2011
-157-
Internalservicefundsareproprietaryfundsthatareused to provide an enterprise-likeaccounting of theVillage's
costs of deliveringcertainservices to departmentswithintheVillage.Therevenuesincludetransfersfromother
funds to thesefundsforservicesprovidedand,as such,arerecognized as chargesforservices.Suchtransfersare
recognized as expenditures for services in the other funds, not as other financing uses.
INTERNAL SERVICE FUND DESCRIPTIONS
CapitalEquipmentReplacementFund -to accountforthefundsannuallysetasidefortheeventualreplacement
of certain capital equipment.
MunicipalEquipmentRepairFund -to accountforthecost of repairingandmaintainingVillagevehicles.
These costs include labor, material, fuel, fixed overhead of the Village's repair facility, and depreciation.
InsuranceandRiskFund -to accountforthefinancialactivity of theVillage'sinsuranceprogramincluding
employeehealthandlifeinsurance.In addition to conventionalprimaryinsurance,theVillage is amember of the
High-LevelExcessLiabilityPool(HELP),whichprovidesexcessliabilitycoverage.TheVillagealsoprovides
health and life insurance by participating in the Intergovernmental Personnel Benefit Cooperative (IPBC).
FacilitiesReplacementFund -to accountforthefundsannuallysetasidefortheeventualreplacement of the
Village's various facilities.
CapitalMunicipal
EquipmentEquipment
Replacement FundRepair Fund
ASSETS
Current assets
Cash and cash equivalents $702,452 $94,876
Investments 5,014,702 206,150
Accounts receivable, net of uncollectible amounts - 12,348
Accrued interest receivable 3,043 -
Other receivable - -
Prepaid expenses - -
Inventory - 281,547
Total current assets 5,720,197 594,921
Total assets 5,720,197 594,921
LIABILITIES
Current liabilities
Accounts payable 182,761 85,841
Accrued payroll - 1,774
Accrued expenses 2,465 713
Claims payable - -
Total current liabilities 185,226 88,328
Total liabilities 185,226 88,328
NET ASSETS
Unrestricted 5,534,971 506,593
Total net assets $5,534,971 $506,593
Village of Glenview, Illinois
Internal Service Funds
Combining Statement of Net Assets
December 31, 2011
-158-
InsuranceFacilitiesTotal
and RiskReplacementInternal
Fund FundService Funds
$888,966 $404,543 $2,090,837
6,729,289 5,035,667 16,985,808
52,865 - 65,213
3,688 2,345 9,076
40,000 - 40,000
83,585 - 83,585
- - 281,547
7,798,393 5,442,555 19,556,066
7,798,393 5,442,555 19,556,066
62,079 433,480 764,161
408 - 2,182
5,695 29,234 38,107
3,188,986 - 3,188,986
3,257,168 462,714 3,993,436
3,257,168 462,714 3,993,436
4,541,225 4,979,841 15,562,630
$4,541,225 $4,979,841 $15,562,630
-159-
CapitalMunicipal
EquipmentEquipment
Replacement FundRepair Fund
Operating revenues
Charges for sales and services $1,613,515 $1,520,403
Miscellaneous - 177,164
Total operating revenues 1,613,515 1,697,567
Operating expenses
Personnel - 425,819
Contractual services - 384,427
Commodities 89,857 225,637
Other charges - 629,432
Capital outlay 486,939 -
Total operations 576,796 1,665,315
Total operating expenses 576,796 1,665,315
Operating income (loss)1,036,719 32,252
Nonoperating revenues
Other income 62,808 -
Investment income 23,492 1,127
Total nonoperating revenues 86,300 1,127
Net income (loss) before transfers 1,123,019 33,379
Tranfer (out)
Transfers out from other funds - -
Total transfer (out)- -
Change in net assets 1,123,019 33,379
Net assets - beginning 4,411,952 473,214
Net assets - ending $5,534,971 $506,593
Village of Glenview, Illinois
Internal Service Funds
Combining Statement of Revenues, Expenses and Changes in Net Assets
For the Year Ended December 31, 2011
-160-
InsuranceFacilitiesTotal
and Risk ReplacementInternal
Fund FundService Funds
$7,246,672 $143,545 $10,524,135
64,077 - 241,241
7,310,749 143,545 10,765,376
420,868 - 846,687
7,166,375 151,406 7,702,208
- - 315,494
- - 629,432
- 888,984 1,375,923
7,587,243 1,040,390 10,869,744
7,587,243 1,040,390 10,869,744
(276,494) (896,845) (104,368)
- - 62,808
343,025 28,929 396,573
343,025 28,929 459,381
66,531 (867,916) 355,013
- (882,000) (882,000)
- (882,000) (882,000)
66,531 (1,749,916) (526,987)
4,474,694 6,729,757 16,089,617
$4,541,225 $4,979,841 $15,562,630
-161-
Capital Municipal
EquipmentEquipment
Replacement FundRepair Fund
Cash flows from operating activities
Cash received from customers and users $1,613,515 $1,709,148
Cash payments for goods and services (546,505) (1,271,570)
Cash payments to employees - (429,047)
Net cash provided by (used in) operating activities 1,067,010 8,531
Cash flows from noncapital financing activities
Interfund transactions - -
Net cash used in noncapital financing activities - -
Cash flows from capital and related financing activities
Purchases of capital assets 62,808 -
Net cash provided by capital and related financing activities 62,808 -
Cash flows from investing activities
Purchases of investments (2,766,904) (606)
Interest received 29,211 1,127
Net cash provided by (used in) investing activities (2,737,693) 521
Net increase in cash and cash equivalents (1,607,875) 9,052
Cash and cash equivalents, beginning of year 2,310,327 85,824
Cash and cash equivalents, end of year $702,452 $94,876
Village of Glenview, Illinois
Internal Service Funds
Combining Statement of Cash Flows
For the Year Ended December 31, 2011
-162-
InsuranceFacilities Total
and RiskReplacementInternal
Fund FundService Funds
$7,211,909 $143,545 $10,678,117
(7,124,347) (931,801) (9,874,223)
(420,460) (5,926) (855,433)
(332,898) (794,182) (51,539)
(62) (882,000) (882,062)
(62) (882,000) (882,062)
- - 62,808
- - 62,808
(3,715,346) (1,948,953) (8,431,809)
339,337 38,919 408,594
(3,376,009) (1,910,034) (8,023,215)
(3,708,969) (3,586,216) (8,894,008)
4,597,935 3,990,759 10,984,845
$888,966 $404,543 $2,090,837
(Continued)
-163-
Capital Municipal
EquipmentEquipment
Replacement FundRepair Fund
Reconciliation of operating income (loss) to net cash
provided by (used in) operating activities
Operating income (loss)$1,036,719 $32,252
Adjustments to reconcile operating income (loss) to net cash
provided by (used in) operating activities
Changes in assets and liabilities
Accounts receivable - 11,581
Prepaid expenses - -
Inventory - (7,597)
Accounts payable 30,291 (24,477)
Accrued payroll - (3,228)
Claims payable - -
Unearned revenues - -
Total changes in assets and liabilities 30,291 (23,721)
Net cash provided by (used in) operating activities $1,067,010 $8,531
Village of Glenview, Illinois
Internal Service Funds
Combining Statement of Cash Flows (Continued)
For the Year Ended December 31, 2011
-164-
InsuranceFacilities Total
and RiskReplacementInternal
Fund FundService Funds
$(276,494) $(896,845) $(104,368)
(78,937) - (67,356)
(2,542) - (2,542)
- - (7,597)
50,653 108,589 165,056
408 (5,926) (8,746)
(6,083) - (6,083)
(19,903) - (19,903)
(56,404) 102,663 52,829
$(332,898) $(794,182) $(51,539)
(Concluded)
-165-
Original
and Final 2011 2010
Budget Actual Actual
Operating revenues
Charges for services
CERF charges $1,613,515 $1,613,515 $1,286,191
Total operating revenues 1,613,515 1,613,515 1,286,191
Operating expenses
Commodities 201,260 89,857 108,987
Capital outlay
Machinery and equipment 267,340 196,898 1,512,822
Computer servers 51,000 32,673 -
Vehicles 1,337,672 257,368 -
Total operating expenses 1,857,272 576,796 1,621,809
Operating income (loss)(243,757) 1,036,719 (335,618)
Nonoperating revenues
Investment income 50,000 23,492 83,140
Gain on sale of capital assets 179,000 62,808 146,888
Total nonoperating revenue 229,000 86,300 230,028
Income (loss) before transfers (14,757) 1,123,019 (105,590)
Transfer from other funds
Municipal Equipment Repair Fund - - 700,000
Total transfers - - 700,000
Change in net assets $(14,757) 1,123,019 594,410
Net assets - beginning 4,411,952 3,817,542
Net assets - ending $5,534,971 $4,411,952
Village of Glenview, Illinois
Capital Equipment Replacement Fund (CERF)
Schedule of Revenues, Expenses, and Changes in Net Assets - Budget and Actual
For the Year Ended December 31, 2011
(With comparative totals for the year ended December 31, 2010)
-166-
2011 2010
Original Final Actual Actual
Operating revenues
Charges for services
Village $1,519,373 $1,519,373 $1,518,934 $1,468,080
Library 4,823 4,823 1,469 2,619
Supervision charges 12,000 12,000 - -
Total charges for services 1,536,196 1,536,196 1,520,403 1,470,699
Miscellaneous revenues
Other charges 132,598 132,598 177,164 143,547
Total miscellaneous revenues 132,598 132,598 177,164 143,547
Total operating revenues 1,668,794 1,668,794 1,697,567 1,614,246
Operating expenses
Administration
Contractual services
Professional services 6,141 6,141 5,246 -
Total contractual services 6,141 6,141 5,246 -
Other charges
CERF charges 737 737 737 -
Total other charges 737 737 737 -
Total administration 6,878 6,878 5,983 -
Fleet Management
Personnel
Regular salaries 328,111 259,054 257,613 319,327
Part time salaries 18,360 18,360 18,437 17,987
Overtime salaries 40,000 40,000 31,014 30,628
Longevity pay 5,259 3,559 4,575 5,984
Vacation buy back - - 1,410 -
Sick buy back - - 1,234 -
Certification pay 807 807 - 750
FICA 29,564 24,272 23,322 28,354
IMRF Pension 51,941 42,660 42,674 48,292
Health insurance 45,540 45,540 45,540 45,470
Total personnel 519,582 434,252 425,819 496,792
(Continued)
Village of Glenview, Illinois
Municipal Equipment Repair Fund
Schedule of Revenues, Expenses, and Changes in Net Assets - Budget and Actual
For the Year Ended December 31, 2011
(With comparative totals for the year ended December 31, 2010)
Budget
-167-
2011 2010
Original Final Actual Actual
Operating expenses (continued)
Fleet Management (continued)
Contractual services
Professional services $180,400 $372,227 $376,359 $178,737
Dues and subscriptions 479 3,422 2,822 622
Telephone - - - (520)
Maintenance of vehicles 12,000 - - -
Total contractual services 192,879 375,649 379,181 178,839
Commodities
Janitorial supplies 1,030 - - 427
Safety equipment 150 - - -
Uniform allowances 6,875 6,875 4,204 5,702
Other supplies and tools 257,300 251,473 221,433 297,211
Total commodities 265,355 258,348 225,637 303,340
Other charges
Training 8,755 5,412 5,265 4,485
Fuel 601,720 514,630 550,231 416,576
CERF charges 53,143 53,143 53,143 44,421
Claims 18,731 18,731 18,731 13,545
Risk management charges 1,325 1,325 1,325 6,825
Support service charges - - - 4,250
Total other charges 683,674 593,241 628,695 490,102
Total fleet management 1,661,490 1,661,490 1,659,332 1,469,073
Total operating expenses 1,668,368 1,668,368 1,665,315 1,469,073
Operating income 426 426 32,252 145,173
(Continued)
Budget
For the Year Ended December 31, 2011
(With comparative totals for the year ended December 31, 2010)
Village of Glenview, Illinois
Municipal Equipment Repair Fund
Schedule of Revenues, Expenses, and Changes in Net Assets - Budget and Actual (Continued)
-168-
2011 2010
Original Final Actual Actual
Nonoperating revenues
Investment income $1,600 $1,600 $1,127 $2,133
Total nonoperating revenues 1,600 1,600 1,127 2,133
Income before transfers 2,026 2,026 33,379 147,306
Transfer to other funds
Capital Equipment Replacement Fund - - - (700,000)
Change in net assets $2,026 $2,026 33,379 (552,694)
Net assets - beginning 473,214 1,025,908
Net assets - ending $506,593 $473,214
(Concluded)
For the Year Ended December 31, 2011
(With comparative totals for the year ended December 31, 2010)
Budget
Village of Glenview, Illinois
Municipal Equipment Repair Fund
Schedule of Revenues, Expenses, and Changes in Net Assets - Budget and Actual (Continued)
-169-
2011 2010
Original Final Actual Actual
Operating revenues
Charges for services
Insurance premiums
Employees $604,238 $604,238 $638,709 $211,006
Village 3,769,357 3,769,357 3,711,997 3,726,962
Retirees 1,033,329 1,033,329 1,038,961 1,031,523
Component unit - Library 658,947 658,947 573,755 405,819
Other 1,282,552 1,282,552 1,283,250 1,103,374
Miscellaneous
Insurance recoveries 10,000 10,000 64,077 6,086
Total operating revenues 7,358,423 7,358,423 7,310,749 6,484,770
Operating expenses
Personnel
Regular salaries 83,886 83,886 79,593 83,835
Longevity pay 848 848 307 -
Auto allowance 360 360 165 -
FICA 12,298 12,298 8,569 17,459
Workers compensation - - - 53,590
Health insurance 252,545 252,545 253,901 6,704
Unemployment benefits 30,000 80,000 63,196 37,134
Safety program 13,000 13,000 - 18,390
IMRF pension expense 22,213 22,213 15,137 7,920
Total personnel 415,150 465,150 420,868 225,032
Contractual services
Professional services 165,696 165,696 88,522 87,401
Dues and memberships 1,100 1,100 - -
Insurance 6,419,870 6,419,870 6,349,368 7,386,030
Medical services 4,000 4,000 - 1,995
Claims
Property and casualty 132,654 197,254 181,310 204,845
Workers' compensation 1,193,883 1,079,283 536,676 886,192
Miscellaneous expense 2,000 2,000 10,499 91,721
Total contractual services 7,919,203 7,869,203 7,166,375 8,658,184
Total operating expenses 8,334,353 8,334,353 7,587,243 8,883,216
(Continued)
(With comparative totals for the year ended December 31, 2010)
Village of Glenview, Illinois
Budget
Insurance and Risk Fund
Schedule of Revenues, Expenses, and Changes in Net Assets - Budget and Actual
For the Year Ended December 31, 2011
-170-
2011 2010
Original Final Actual Actual
Operating loss $(975,930) $(975,930) $(276,494) $(2,398,446)
Nonoperating income
Investment income 19,500 19,500 343,025 396,716
Income (loss) before transfers (956,430) (956,430) 66,531 (2,001,730)
Transfers from other funds
Risk Management Fund - - - 178,270
Change in net assets $(956,430) $(956,430) 66,531 (1,823,460)
Net assets - beginning 4,474,694 6,298,154
Net assets - ending $4,541,225 $4,474,694
(Concluded)
(With comparative totals for the year ended December 31, 2010)
Village of Glenview, Illinois
Insurance and Risk Fund
Schedule of Revenues, Expenses, and Changes in Net Assets - Budget and Actual (Continued)
For the Year Ended December 31, 2011
Budget
-171-
2011 2010
Original Final Actual Actual
Operating revenues
Charges for services $7,000 $7,000 $143,545 $432,060
Operating expenses
Contractual services - 197,515 151,406 -
Capital outlay
Furniture and fixtures - 3,673 3,673 -
Building improvements 1,698,000 1,496,812 885,311 1,176,514
Total operating expenses 1,698,000 1,698,000 1,040,390 1,176,514
Operating loss (1,691,000) (1,691,000) (896,845) (744,454)
Nonoperating revenues
Intergovernmental revenue 275,000 275,000 - -
Investment income 65,000 65,000 28,929 102,980
Total nonoperating revenue 340,000 340,000 28,929 102,980
Loss before transfers (1,351,000) (1,351,000) (867,916) (641,474)
Transfers (to) from other funds
Transfers in 536,300 536,300 - -
Transfers out (882,000) (882,000) (882,000) -
Total transfers (345,700) (345,700) (882,000) -
Change in net assets $(1,696,700) $(1,696,700) (1,749,916) (641,474)
Net assets - beginning 6,729,757 7,371,231
Net assets - ending $4,979,841 $6,729,757
Budget
Village of Glenview, Illinois
Facilities Replacement Fund
Schedule of Revenues, Expenses, and Changes in Net Assets - Budget and Actual
(With comparative totals for the year ended December 31, 2010)
For the Year Ended December 31, 2011
-172-
Pension Trust Funds
Agency Funds
EscrowDepositFund -to accountforthedepositsplacedwiththeVillagebybuildingcontractors.In 2007
andprioryears,thisfundwasreported as aspecialrevenuefund.Thefundbalancewasused to reduce
payables and the fund was reclassified as an agency fund at the end of fiscal year 2007.
SpecialServiceArea(SSA)BondFund -to accountforthenon-commitmentdebtserviceactivities of the
Village related to the special service areas.
TRUST AND AGENCY FUND DESCRIPTIONS
PolicePensionFund -to accountfortheaccumulation of resources to beusedforretirementannuity
payments to PoliceDepartmentpersonnel at appropriateamountsandtimes in thefuture.Resourcesare
contributedbypoliceemployees at ratesfixedbystatelaw,andbytheVillage at amountsdeterminedby an
annual actuarial study through an annual property tax levy.
Firefighters'PensionFund -to accountfortheaccumulation of resources to beusedforretirementannuity
payments to FireDepartmentpersonnel at appropriateamountsandtimes in thefuture.Resourcesare
contributedbyfirefighteremployees at ratesfixedbystatelaw,andbytheVillage at amountsdeterminedby
an annual actuarial study through an annual property tax levy.
Trustandagencyfundsarefiduciaryfundsused to accountforassetsheldbytheVillage in atrusteecapacity
for individuals, private organizations, and/or other governments.
Pension Trust Funds
Combining Statement of Plan Net Assets
December 31, 2011
Total
PoliceFirefighters'Pension
Pension FundPension FundTrust Funds
ASSETS
Cash and cash equivalents $2,254,279 $1,320,697 $3,574,976
Investments
U.S. government and agency obligations 29,054,579 24,373,425 53,428,004
Municipal obligations - 1,231,575 1,231,575
Equity mutual funds 21,277,390 23,819,624 45,097,014
Accrued interest receivable 87,664 101,887 189,551
Due from primary government 24,606 39,544 64,150
Prepaid expenses - 1,977 1,977
Total assets 52,698,518 50,888,729 103,587,247
LIABILITIES
Accrued expenses 6,903 2,049 8,952
NET ASSETS
Held in trust for pension benefits $52,691,615 $50,886,680 $103,578,295
Village of Glenview, Illinois
-173-
Total
Police Firefighters'Pension
Pension FundPension FundTrust Funds
Additions
Contributions
Employer $1,767,986 $2,806,961 $4,574,947
Participant 654,408 680,302 1,334,710
Total contributions 2,422,394 3,487,263 5,909,657
Investment income
Net appreciation
in fair value of investments 1,349,699 5,410 1,355,109
Interest income 789,681 725,667 1,515,348
Less investment expense (74,828) (130,443) (205,271)
Net investment income 2,064,552 600,634 2,665,186
Total additions 4,486,946 4,087,897 8,574,843
Deductions
Retirement pensions 2,050,215 3,402,707 5,452,922
Widow pensions 241,603 251,001 492,604
Disability pensions 47,565 461,638 509,203
Contribution refunds 29,677 - 29,677
Total deductions 2,369,060 4,115,346 6,484,406
Change in net assets 2,117,886 (27,449) 2,090,437
Net assets held in trust for pension benefits
Beginning 50,573,729 50,914,129 101,487,858
Ending $52,691,615 $50,886,680 $103,578,295
For the Year Ended December 31, 2011
Village of Glenview, Illinois
Pension Trust Funds
Combining Statement of Changes in Plan Net Assets
-174-
2011 2010
Original Final Actual Actual
Additions
Contributions
Employer $1,720,924 $1,720,924 $1,767,986 $1,802,629
Participant 625,373 625,373 654,408 652,256
Total contributions 2,346,297 2,346,297 2,422,394 2,454,885
Investment income
Net appreciation
in fair value of investments 4,000,000 4,000,000 1,349,699 3,760,757
Interest income 724,750 724,750 789,681 940,842
Less investment expense (115,536) (115,536) (74,828) (77,231)
Net investment income 4,609,214 4,609,214 2,064,552 4,624,368
Total additions 6,955,511 6,955,511 4,486,946 7,079,253
Deductions
Retirement pensions 1,888,520 2,024,422 2,050,215 1,798,591
Widow pensions 268,000 268,000 241,603 267,691
Disability pensions 35,930 35,930 47,565 34,219
Contribution refunds - - 29,677 -
Total deductions 2,192,450 2,328,352 2,369,060 2,100,501
Change in net assets $4,763,061 $4,627,159 2,117,886 4,978,752
Net assets held in trust for pension benefits
Beginning 50,573,729 45,594,977
Ending $52,691,615 $50,573,729
Budget
(With comparative totals for the year ended December 31, 2010)
Village of Glenview, Illinois
Police Pension Fund
Schedule of Changes in Plan Net Assets - Budget and Actual
For the Year Ended December 31, 2011
-175-
2011 2010
Original Final ActualActual
Additions
Contributions
Employer $2,766,952 $2,766,952 $2,806,961 $2,541,870
Participant 666,518 666,518 680,302 608,413
Total contributions 3,433,470 3,433,470 3,487,263 3,150,283
Investment income
Net appreciation
in fair value of investments 3,200,000 3,200,000 5,410 3,994,828
Interest income 238,640 238,640 725,667 460,011
Less investment expense (121,000) (121,000) (130,443) (137,711)
Net investment income 3,317,640 3,317,640 600,634 4,317,128
Total additions 6,751,110 6,751,110 4,087,897 7,467,411
Deductions
Retirement pensions 3,200,035 3,495,368 3,402,707 3,047,652
Widow pensions 191,000 191,000 251,001 237,329
Disability pensions 438,422 438,422 461,638 417,544
Total deductions 3,829,457 4,124,790 4,115,346 3,702,525
Change in net assets $2,921,653 $2,626,320 (27,449) 3,764,886
Net assets held in trust for pension benefits
Beginning 50,914,129 47,149,243
Ending $50,886,680 $50,914,129
Budget
(With comparative totals for the year ended December 31, 2010)
Village of Glenview, Illinois
Firefighters' Pension Fund
Schedule of Changes in Plan Net Assets - Budget and Actual
For the Year Ended December 31, 2011
-176-
Village of Glenview, Illinois
For the Year Ended December 31, 2011
Balances Balances
January 1AdditionsSubtractionsDecember 31
Assets
Cash and cash equivalents$788,424 $3,610,420 $3,756,347 $642,497
Investments 3,736,511 3,231,644 3,182,580 3,785,575
Receivables
Interest 16,042 3,420 16,042 3,420
Property taxes 134,828 273,008 134,828 273,008
Total assets $4,675,805 $7,118,492 $7,089,797 $4,704,500
Liabilities
Due to bond holders $148,174 $368,127 $148,174 $368,127
Due to other funds 34,476 22,628 34,476 22,628
Accounts payable 14,898 45,543 14,898 45,543
Refundable deposits 4,426,275 235,431 393,504 4,268,202
Total liabilities $4,623,823 $671,729 $591,052 $4,704,500
Special Service Area (SSA) Bond Fund
Assets
Cash and cash equivalents$113,963 $169,762 $165,978 $117,747
Receivables - property taxes 134,828 273,008 134,828 273,008
Total assets $248,791 $442,770 $300,806 $390,755
Liabilities
Accounts payable $14,159 $- $14,159 $-
Due to other fund 34,476 22,628 34,476 22,628
Due to bond holders 148,174 368,127 148,174 368,127
Total liabilities $196,809 $390,755 $196,809 $390,755
(Continued)
INDIVIDUAL AGENCY FUND STATEMENTS
Agency Funds
Statements of Changes in Net Assets
COMBINING STATEMENT - ALL AGENCY FUNDS
-177-
Village of Glenview, Illinois
For the Year Ended December 31, 2011
Balances Balances
January 1AdditionsSubtractionsDecember 31
Escrow Deposit Fund
Assets
Cash and cash equivalents$674,461 $3,440,658 $3,590,369 $524,750
Investments 3,736,511 3,231,644 3,182,580 3,785,575
Receivables - interest 16,042 3,420 16,042 3,420
Total assets $4,427,014 $6,675,722 $6,788,991 $4,313,745
Liabilities
Accounts payable $739 $45,543 $739 $45,543
Refundable deposits 4,426,275 235,431 393,504 4,268,202
Total liabilities $4,427,014 $280,974 $394,243 $4,313,745
(Concluded)
Statement of Changes in Net Assets (Continued)
INDIVIDUAL AGENCY FUND STATEMENTS (Continued)
Agency Funds
-178-
TheGlenviewLibraryFundsaccountfortheresourcesnecessary to providetheeducational,cultural,and
recreational activities of the Glenview Public Library.
GLENVIEW LIBRARY
COMPONENT UNIT
TheGlenviewLibrary(Library)is acomponentunit of theVillage of Glenviewand is presented as asingle
governmentalfund,theLibraryFund,in theVillage'sfinancialstatements.Thefollowingfunddescriptions
provide information on the governmental funds used within the Village's component unit, the Library.
Library
Library NewNonmajor
GeneralBuildingLibrary Total
Fund Fund FundsLibrary
ASSETS
Current assets
Cash and cash equivalents $2,508,373 $- $635,129 $3,143,502
Investments 1,001,591 - 333,616 1,335,207
Receivables, net of allowances
Property taxes 5,601,067 - 1,409,308 7,010,375
Total current assets 9,111,031 - 2,378,053 11,489,084
Noncurrent assets
Capital assets not being depreciated - - - -
Capital assets, net of accumulated
depreciation - - - -
Total noncurrent assets - - - -
Total assets $9,111,031 - $2,378,053 $11,489,084
Village of Glenview, Illinois
Glenview Library - Component Unit
Combining Balance Sheet and Statement of Net Assets
December 31, 2011
Combining Balance Sheet
-179-
Total
Component
AdjustmentsUnit
$- $3,143,502
- 1,335,207
- 7,010,375
- 11,489,084
5,426,987 5,426,987
28,345,581 28,345,581
33,772,568 33,772,568
$33,772,568 $45,261,652
(Continued)
Statement of Net Assets
-180-
Library
Library NewNonmajor
GeneralBuildingLibrary Total
Fund Fund FundsLibrary
LIABILITIES
Current liabilities
Accounts payable $322,468 $65,341 $5,033 $392,842
Accrued payroll 54,226 - - 54,226
Accrued expenses 659 - - 659
Unearned revenues 5,523,248 - 1,393,067 6,916,315
Current portion of long-term debt - - - -
Total current liabilities 5,900,601 65,341 1,398,100 7,364,042
Noncurrent liabilities
Bond payable - - - -
Total noncurrent liabilities - - - -
Total liabilities 5,900,601 65,341 1,398,100 7,364,042
FUND BALANCE / NET ASSETS
Invested in capital assets, net of
related debt - - - -
Reserved / restricted - - 979,953 979,953
Unassigned / unrestricted 3,210,430 (65,341) - 3,145,089
Total fund balance/net assets 3,210,430 (65,341) 979,953 4,125,042
Total liabilities and fund balance$9,111,031 - $2,378,053 $11,489,084
December 31, 2011
Village of Glenview, Illinois
Glenview Library - Component Unit
Combining Balance Sheet and Statement of Net Assets (Continued)
Combining Balance Sheet
-181-
Total
Component
AdjustmentsUnit
$- $392,842
- 54,226
659
- 6,916,315
1,095,469 1,095,469
1,095,469 8,459,511
23,976,878 23,976,878
23,976,878 23,976,878
25,072,347 32,436,389
8,952,568 8,952,568
- 979,953
(252,347) 2,892,742
$8,700,221 $12,825,263
(Concluded)
Statement of Net Assets
-182-
Library
Library New Nonmajor Total
General BuildingLibraryComponent
Fund Fund Funds Unit
Revenues
Property taxes $5,732,881 $- $1,024,489 $6,757,370
Charges for services 58,491 - - 58,491
Fines and forfeitures 94,393 - - 94,393
Intergovernmental 796,330 - - 796,330
Other revenue 42,497 3,166 1,030,408 1,076,071
Investment income 17,379 - 9,865 27,244
Total revenues 6,741,971 3,166 2,064,762 8,809,899
Expenditures
Current
Culture and recreation 6,244,382 - 25,477 6,269,859
Debt service
Principal - - 1,020,000 1,020,000
Interest and other - - 941,281 941,281
Capital outlay 7,644 2,855,768 15,829 2,879,241
Total expenditures 6,252,026 2,855,768 2,002,587 11,110,381
Excess (deficiency) of revenues
over expenditures 489,945 (2,852,602) 62,175 (2,300,482)
Other financing sources (uses)
Loss on disposal of capital assets - - - -
Transfers in - 1,139,902 138 1,140,040
Transfers out - - (1,140,040) (1,140,040)
Total other financing sources (uses)- 1,139,902 (1,139,902) -
Net change in fund balances /
net assets 489,945 (1,712,700) (1,077,727) (2,300,482)
Fund balances (deficit) / net assets
Beginning 2,720,485 1,647,359 2,057,680 6,425,524
Ending $3,210,430 $(65,341) $979,953 $4,125,042
and Changes in Fund Balances
Statement of Revenues, Expenditures,
Village of Glenview, Illinois
Glenview Library - Component Unit
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances (Deficit) and Statement of Activities
Year Ended December 31, 2011
-183-
Total
Component
AdjustmentsUnit
$- $6,757,370
- 58,491
- 94,393
- 796,330
- 1,076,071
- 27,244
- 8,809,899
1,546,543 7,816,402
(1,020,000) -
- 941,281
(3,125,386) (246,145)
(2,598,843) 8,511,538
2,598,843 298,361
(353,361) (353,361)
- 1,140,040
- (1,140,040)
(353,361) (353,361)
2,245,482 (55,000)
6,454,739 12,880,263
$8,700,221 $12,825,263
Statement of
Activities
-184-
Variance
2011 Over /
OriginalFinalActual(Under)
Revenues
Local taxes
Property taxes for Library
Current year $5,650,000 $5,650,000 $5,711,825 $61,825
Prior year 50,000 50,000 21,056 (28,944)
Total local taxes 5,700,000 5,700,000 5,732,881 32,881
Charges for services
Nonresident fee 14,000 14,000 17,305 3,305
Personal books 3,200 3,200 1,996 (1,204)
Copying fees 9,270 9,270 11,810 2,540
Circular collection fees 1,000 1,000 62 (938)
Video fees 18,000 18,000 25,511 7,511
Rental fees 2,000 2,000 1,807 (193)
Total charges for services 47,470 47,470 58,491 11,021
Fines and forfeitures
Library fines 65,000 65,000 82,956 17,956
Lost and paid 10,000 10,000 11,437 1,437
Total fines and forfeitures 75,000 75,000 94,393 19,393
Intergovernmental
Property replacement tax 29,000 29,000 29,000 -
Make-whole TIF area taxes 653,789 653,789 721,850 68,061
Grant proceeds 22,500 22,500 45,480 22,980
Total intergovernmental 705,289 705,289 796,330 91,041
Investment income
Interest 11,000 11,000 17,379 6,379
Other revenue
Employee dental contribution 11,000 11,000 14,911 3,911
Miscellaneous 1,000 1,000 27,586 26,586
Total other revenues 12,000 12,000 42,497 30,497
Total revenues 6,550,759 6,550,759 6,741,971 191,212
(Continued)
For the Year Ended December 31, 2011
Village of Glenview, Illinois
Glenview Library - Component Unit - Library General Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance
Budget
-185-
Variance
2011 Over /
OriginalFinalActual(Under)
Expenditures
Culture and recreation
Library administration
Personnel
Regular salaries $305,765 $350,765 $351,248$483
Part time salaries 63,771 63,771 52,073(11,698)
Overtime salaries 1,000 1,000 - (1,000)
FICA payments 28,917 32,360 26,902(5,458)
IMRF pension contributions 47,576 53,624 53,060 (564)
Health insurance 549,314 549,314 532,048(17,266)
Incentives and recognition 4,500 4,500 2,741(1,759)
Total personnel 1,000,843 1,055,334 1,018,072 (37,262)
Contractual services
Professional services 4,950 4,950 4,441 (509)
Financial services 85,000 85,000 85,000 -
Legal service 20,000 20,000 11,659(8,341)
Dues, memberships, subscriptions2,900 2,900 3,688 788
Postage 5,500 5,500 868(4,632)
Telephone 15,000 15,000 16,0081,008
Equipment maintenance 19,000 19,000 5,298(13,702)
Maintenance of vehicles 3,500 3,500 1,469(2,031)
Selection and promotions 3,000 3,000 - (3,000)
General insurance program 70,000 70,000 62,203(7,797)
Insurance premiums 15,000 15,000 19,2244,224
ADA compliance 500 500 - (500)
Total contractual services 244,350 244,350 209,858 (34,492)
Commodities
Office supplies 3,000 3,000 3,300 300
Books, pamphlets, and materials 4,500 4,500 3,275 (1,225)
Periodicals 1,400 1,400 1,018 (382)
Other supplies and tools 900 900 1,048 148
Total commodities 9,800 9,800 8,641 (1,159)
(Continued)
Village of Glenview, Illinois
Glenview Library - Component Unit - Library General Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance (Continued)
For the Year Ended December 31, 2011
Budget
-186-
Variance
2011 Over /
OriginalFinalActual(Under)
Expenditures (continued)
Culture and recreation (continued)
Library administration (continued)
Travel $4,000 $4,000 $2,217 $(1,783)
Miscellaneous expense 60,000 60,000 4,530 (55,470)
Contingencies - - 32,560 32,560
Total other charges 72,000 72,000 48,760 (23,240)
Total library administration1,326,993 1,381,484 1,285,331 (96,153)
Readers' services
Personnel
Regular salaries 571,194 430,194 396,959 (33,235)
Part time salaries 316,941 151,941 179,993 28,052
Overtime salaries 27,837 27,837 975 (26,862)
FICA payments 70,072 48,499 42,200 (6,299)
IMRF pension contributions 99,500 76,599 71,619 (4,980)
Total personnel 1,085,544 735,070 691,746 (43,324)
Contractual services
Dues, memberships, subscriptions1,550 1,550 1,295 (255)
Equipment maintenance 300 300 - (300)
Electronic resources - - 204 204
Library programs 12,250 12,250 12,659 409
Total contractual services 14,100 14,100 14,158 58
Commodities
Office supplies 1,800 1,800 923 (877)
Audio visual 64,200 64,200 64,771 571
Computer supplies 1,800 1,800 1,735 (65)
Books, pamphlets, and materials 157,000 157,000 155,265 (1,735)
(Continued)
Schedule of Revenues, Expenditures, and Changes in Fund Balance (Continued)
For the Year Ended December 31, 2011
Village of Glenview, Illinois
Glenview Library - Component Unit - Library General Fund
Budget
-187-
Variance
2011 Over /
OriginalFinalActual(Under)
Expenditures (continued)
Culture and recreation (continued)
Readers' services (continued)
Commodities (continued)
Periodicals $34,000 $34,000 $33,096 $(904)
Other supplies and tools 1,400 1,400 1,435 35
Total commodities 260,200 260,200 257,225 (2,975)
Other charges
Employee training 1,200 1,200 749 (451)
Travel 3,550 3,550 471 (3,079)
Miscellaneous expense 300 300 461 161
Total other charges 5,050 5,050 1,681 (3,369)
Total readers' services1,364,894 1,014,420 964,810 (49,610)
Buildings and grounds maintenance
Personnel
Regular salaries 128,554 128,554 126,841 (1,713)
Part time salaries 19,739 19,739 19,862 123
Overtime salaries 2,580 2,580 881 (1,699)
FICA payments 11,542 11,542 10,619 (923)
IMRF pension contributions 20,674 20,674 19,849 (825)
Total personnel 183,089 183,089 178,052 (5,037)
Contractual services
Equipment maintenance 700 700 492 (208)
Building maintenance 75,450 75,450 83,807 8,357
Total contractual services 76,150 76,150 84,299 8,149
(Continued)
Village of Glenview, Illinois
Glenview Library - Component Unit - Library General Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance (Continued)
For the Year Ended December 31, 2011
Budget
-188-
Variance
2011 Over /
OriginalFinalActual(Under)
Expenditures (continued)
Culture and recreation (continued)
Buildings and grounds maintenance (continued)
Commodities
Office supplies $225 $225 $264 $39
Other supplies and tools 3,600 3,600 5,335 1,735
Janitorial supplies 8,500 8,500 9,438 938
Uniforms and shoes 525 525 596 71
Utilities 35,700 35,700 46,347 10,647
Total commodities 48,550 48,550 61,980 13,430
Other charges
Employee training 400 400 - (400)
Training travel 500 500 375 (125)
Total other charges 900 900 375 (525)
Total building and grounds
maintenance 308,689 308,689 324,706 16,017
Circulation
Personnel
Regular salaries 284,304 304,304 307,168 2,864
Part time salaries 161,384 326,384 381,663 55,279
Overtime salaries 20,390 20,390 3,121 (17,269)
FICA payments 35,655 49,808 49,945 137
IMRF pension contributions 85,234 85,098 82,236 (2,862)
Total personnel 586,967 785,984 824,133 38,149
Contractual services
Dues, memberships, subscriptions215 215 251 36
Equipment maintenance 10,950 10,950 5,654 (5,296)
Total contractual services 11,165 11,165 5,905 (5,260)
(Continued)
Budget
For the Year Ended December 31, 2011
Village of Glenview, Illinois
Glenview Library - Component Unit - Library General Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance (Continued)
-189-
Variance
2011 Over /
OriginalFinalActual(Under)
Expenditures (continued)
Culture and recreation (continued)
Circulation (continued)
Commodities
Office supplies $1,400 $1,400 $941 $(459)
Computer supplies 1,400 1,400 2,130 730
Circulation supplies 15,000 15,000 9,970 (5,030)
Books, pamphlets, and materials 500 500 320 (180)
Other supplies and tools 600 600 381 (219)
Total commodities 18,900 18,900 13,742 (5,158)
Other charges
Employee training 800 800 - (800)
Training travel 350 350 157 (193)
Miscellaneous expense 4,000 4,000 2,054 (1,946)
Total other charges 5,150 5,150 2,211 (2,939)
Total circulation 622,182 821,199 845,991 24,792
Public information
Personnel
Regular salaries 85,733 110,733 107,647(3,086)
Part time salaries 16,737 16,737 9,913(6,824)
Overtime salaries 74 74 -(74)
FICA payments 7,845 9,758 8,558(1,200)
IMRF pension contributions 16,437 19,797 14,468(5,329)
Total personnel 126,826 157,099 140,586 (16,513)
Contractual services
Dues, memberships, subscriptions400 400 365 (35)
Postage 7,900 7,900 7,346 (554)
Printing and publishing 34,500 34,500 33,439(1,061)
Library programs 1,300 1,300 1,617 317
Library public information 4,000 4,000 3,459 (541)
Total contractual services 48,100 48,100 46,226 (1,874)
(Continued)
Schedule of Revenues, Expenditures, and Changes in Fund Balance (Continued)
For the Year Ended December 31, 2011
Budget
Village of Glenview, Illinois
Glenview Library - Component Unit - Library General Fund
-190-
Variance
2011 Over /
OriginalFinalActual(Under)
Expenditures (continued)
Culture and recreation (continued)
Public information (continued)
Commodities
Computer supplies $2,750 $2,750 $1,946 $(804)
Office supplies 1,000 1,000 888 (112)
Total commodities 3,750 3,750 2,834 (916)
Other charges
Employee training 125 125 2,144 2,019
Training 125 125 67 (58)
Total other charges 250 250 2,211 1,961
Total public information178,926 209,199 191,857 (17,342)
Technical services
Personnel
Regular salaries 388,522 415,522 419,333 3,811
Part time salaries 136,605 192,605 217,850 25,245
Overtime salaries 1,131 1,131 - (1,131)
FICA payments 40,259 46,609 47,024 415
IMRF pension contributions 77,809 88,964 81,010 (7,954)
Total personnel 644,326 744,831 765,217 20,386
Contractual services
Professional services 24,000 48,000 42,549 (5,451)
Dues, memberships, subscriptions1,025 1,025 690 (335)
Equipment maintenance 2,000 2,000 1,994 (6)
Electronic resources 6,000 6,000 5,910 (90)
Library binding 2,500 2,500 2,396 (104)
Village-wide information system 135,900 135,900 123,213 (12,687)
Total contractual services171,425 195,425 176,752 (18,673)
(Continued)
Budget
Glenview Library - Component Unit - Library General Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance (Continued)
For the Year Ended December 31, 2011
Village of Glenview, Illinois
-191-
Variance
2011 Over /
OriginalFinalActual(Under)
Expenditures (continued)
Culture and recreation (continued)
Technical services (continued)
Commodities
Office supplies $500 $500 $618 $118
Computer supplies 5,800 5,800 4,490 (1,310)
Audio visual supplies 10,000 10,000 9,196 (804)
Books, pamphlets, and materials 500 500 747 247
Other supplies and tools 300 300 384 84
Processing supplies 7,000 7,000 5,544 (1,456)
Total commodities 24,100 24,100 20,979 (3,121)
Other charges
Employee training 2,200 2,200 2,580 380
Travel 1,500 1,500 1,109 (391)
Miscellaneous expense 500 500 787 287
Total other charges 4,200 4,200 4,476 276
Total technical services 844,051 968,556 967,424 (1,132)
Youth services
Personnel
Regular salaries 269,993 269,993 249,007 (20,986)
Part time salaries 297,305 226,305 251,992 25,687
Overtime salaries 21,155 21,155 - (21,155)
FICA payments 45,017 39,583 36,200 (3,383)
IMRF pension contributions 54,173 48,631 50,596 1,965
Total personnel 687,643 605,667 587,795 (17,872)
Contractual services
Dues, memberships, subscriptions1,100 1,100 955 (145)
Equipment maintenance 450 450 481 31
(Continued)
Village of Glenview, Illinois
Glenview Library - Component Unit - Library General Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance (Continued)
For the Year Ended December 31, 2011
Budget
-192-
Variance
2011 Over /
OriginalFinalActual(Under)
Expenditures (continued)
Culture and recreation (continued)
Youth services (continued)
Contractual services (continued)
Electronic resources $20,000 $20,000 $19,125 $(875)
Library programs 20,000 20,000 24,709 4,709
Total contractual services 41,550 41,550 45,270 3,720
Commodities
Office supplies 2,000 2,000 1,854 (146)
Books, pamphlets, and materials 87,000 87,000 86,777 (223)
Audio visual 22,000 22,000 21,757 (243)
Periodicals 2,700 2,700 2,209 (491)
Other supplies and tools 800 800 739 (61)
Processing supplies 500 500 497 (3)
Total commodities 115,000 115,000 113,833 (1,167)
Other charges
Employee training 1,500 1,500 968 (532)
Travel 2,275 2,275 722 (1,553)
Miscellaneous expense 500 500 271 (229)
Total other charges 4,275 4,275 1,961 (2,314)
Total youth services 848,468 766,492 748,859 (17,633)
Reference
Personnel
Regular salaries 324,474 324,474 327,946 3,472
Part time salaries 135,874 150,874 176,652 25,778
Overtime salaries 6,314 6,314 - (6,314)
FICA payments 35,700 36,848 36,381 (467)
IMRF pension contributions 54,588 62,604 63,497 893
Total personnel 556,950 581,114 604,476 23,362
(Continued)
Village of Glenview, Illinois
Glenview Library - Component Unit - Library General Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance (Continued)
For the Year Ended December 31, 2011
Budget
-193-
Variance
2011 Over /
OriginalFinalActual(Under)
Expenditures (continued)
Culture and recreation (continued)
Reference (continued)
Contractual services
Equipment maintenance$4,590 $4,590 $3,825 $(765)
Dues, memberships, subscriptions1,600 1,600 1,185 (415)
Electronic resources 141,500 141,500 144,545 3,045
Library programs 450 450 30 (420)
Total contractual services148,140 148,140 149,585 1,445
Commodities
Office supplies 600 600 447 (153)
Computer supplies 1,000 1,000 943 (57)
Books, pamphlets, and materials 172,250 172,250 148,740 (23,510)
Other supplies and tools 500 500 211 (289)
Micro form 15,000 15,000 10,786 (4,214)
Processing supplies 200 200 - (200)
Total commodities 189,550 189,550 161,127 (28,423)
Other charges
Employee training 1,000 1,000 - (1,000)
Travel 2,500 2,500 140 (2,360)
Miscellaneous expense 300 300 76 (224)
Total other charges 3,800 3,800 216 (3,584)
Total reference 898,440 922,604 915,404 (7,200)
Total culture and recreation 6,392,643 6,392,643 6,244,382 (148,261)
(Continued)
Village of Glenview, Illinois
Glenview Library - Component Unit - Library General Fund
Budget
Schedule of Revenues, Expenditures, and Changes in Fund Balance (Continued)
For the Year Ended December 31, 2011
-194-
Variance
2011 Over /
OriginalFinalActual(Under)
Expenditures (continued)
Capital outlay
Furniture and fixtures $750 $750 $- $(750)
Machinery and equipment 4,3004,300 3,644 (656)
Automation project 4,000 4,000 4,000 -
Total capital outlay 9,050 9,050 7,644 (1,406)
Total expenditures 6,401,693 6,401,693 6,252,026 (149,667)
Net change in fund balance $149,066 $149,066 489,945 $340,879
Fund balance - beginning 2,720,485
Fund balance - ending $3,210,430
(Concluded)
Glenview Library - Component Unit - Library General Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance (Continued)
For the Year Ended December 31, 2011
Budget
Village of Glenview, Illinois
-195-
Original Variance
and Final 2011 Over /
Budget Actual (Under)
Revenues
Other revenue
Contribution from primary government$- $3,166 $3,166
Expenditures
Capital outlay
Machinery and equipment - 8,041 8,041
Furniture and fixtures - 378,168 378,168
Building
New development professional services - 70,398 70,398
Capital building project 3,506,829 2,383,301 (1,123,528)
Miscellaneous improvements - 15,860 15,860
Total building 3,506,829 2,469,559 (1,037,270)
Total expenditures 3,506,829 2,855,768 (651,061)
Excess (deficiency) of revenues
over expenditures (3,506,829) (2,852,602) 654,227
Other financing sources
Transfer in 1,111,512 1,139,902 28,390
Total other financing sources 1,111,512 1,139,902 28,390
Net change in fund balance $(2,395,317) (1,712,700) $682,617
Fund balance - beginning 1,647,359
Fund balance (deficit) - ending $(65,341)
For the Year Ended December 31, 2011
Schedule of Detailed Revenues, Expenditures, and Changes in Fund Balance (Deficit) - Budget and Actual
Glenview Library - Component Unit - Library New Building Fund
Village of Glenview, Illinois
-196-
Friends
of theWavering Watson
LibraryGift Gift Gift
ASSETS
Current assets
Cash and cash equivalents $53,850 $- $113,778 $87,486
Investments - - - -
Receivables, net of allowances
Property taxes - - - -
Total current assets $53,850 $- $113,778 $87,486
LIABILITIES AND FUND BALANCES
Liabilities
Accounts payable $1,534 $- $- $-
Unearned revenues - - - -
Total liabilities 1,534 - - -
Fund balances
Restricted 52,316 - 113,778 87,486
Total fund balances 52,316 - 113,778 87,486
Total liabilities and fund balances$53,850 $- $113,778 $87,486
December 31, 2011
Special Revenue Funds
Village of Glenview, Illinois
Glenview Library - Component Unit - Library Nonmajor Funds
Combining Balance Sheet
-197-
Debt
Service
Fund
Library
General
TotalLibraryLibraryTotalObligationTotal
SpecialCapitalSpecialCapitalBond SeriesNonmajor
RevenueContributionReserveProjectof 2009ALibrary
$255,114 $29,668 $318,535 $348,203 $31,812 $635,129
- - 333,616 333,616 - 333,616
- - - - 1,409,308 1,409,308
$255,114 $29,668 $652,151 $681,819 $1,441,120 $2,378,053
$1,534 $- $3,499 $3,499 $- $5,033
- - - - 1,393,067 1,393,067
1,534 - 3,499 3,499 1,393,067 1,398,100
253,580 29,668 648,652 678,320 48,053 979,953
253,580 29,668 648,652 678,320 48,053 979,953
$255,114 $29,668 $652,151 $681,819 $1,441,120 $2,378,053
Special Revenue Funds Capital Project Funds
-198-
Friends
of theWavering Watson
LibraryGift Gift Gift
Revenues
Property taxes $- $- $- $-
Other revenue
Donations 30,000 - 1,350 -
Contribution from primary government - - - -
Investment income 1,379 379 629 679
Total revenue 31,379 379 1,979 679
Expenditures
Culture and recreation
Miscellaneous 4,515 - - -
Total culture and recreation 4,515 - - -
Debt service
Principal - - - -
Interest and other - - - -
Total debt service - - - -
Capital outlay - - - -
Total expenditures 4,515 - - -
Other financing sources (uses)
Transfers in - - 138 -
Transfers out (235,129) (80,857) (12,524) (54,207)
(235,129) (80,857) (12,386) (54,207)
Net change in fund balance (208,265) (80,478) (10,407) (53,528)
Fund balance - beginning 260,581 80,478 124,185 141,014
Fund balance - ending $52,316 $- $113,778 $87,486
Special Revenue Funds
Village of Glenview, Illinois
Glenview Library - Component Unit - Library Nonmajor Funds
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances
For the Year Ended December 31, 2011
-199-
Debt
Service
Fund
Library
General
Total Library LibraryTotalObligationTotal
Special Capital SpecialCapitalBond SeriesNonmajor
Revenue Contribution ReserveProjectof 2009ALibrary
$- $- $- $- $1,024,489$1,024,489
31,350 18,667 - 18,667 - 50,017
- - - - 980,391 980,391
3,066 2,748 3,082 5,830 969 9,865
34,416 21,415 3,082 24,497 2,005,849 2,064,762
4,515 - 20,962 20,962 - 25,477
4,515 - 20,962 20,962 - 25,477
- - - - 1,020,000 1,020,000
- - - - 941,281 941,281
- - - - 1,961,281 1,961,281
- 15,829 - 15,829 - 15,829
4,515 15,829 20,962 36,791 1,961,281 2,002,587
138 - - - - 138
(382,717) (757,323) - (757,323) - (1,140,040)
(382,579) (757,323) - (757,323) - (1,139,902)
(352,678) (751,737) (17,880) (769,617) 44,568 (1,077,727)
606,258 781,405 666,532 1,447,937 3,485 2,057,680
$253,580 $29,668 $648,652 $678,320 $48,053 $979,953
Capital Project Funds
-200-
Original Variance
and Final 2011 Over /
Budget Actual (Under)
Revenues
Investment income $16,500 $3,082 $(13,418)
Expenditures
Miscellaneous 22,000 20,962 (1,038)
Total expenditures 22,000 20,962 (1,038)
Net change in fund balance $(5,500) (17,880) $(12,380)
Fund balance - beginning 666,532
Fund balance - ending $648,652
Note: This is the only nonmajor fund that the Village budgets for.
Village of Glenview, Illinois
Glenview Library - Component Unit - Library Special Reserve Fund
Schedule of Detailed Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
For the Year Ended December 31, 2011
-201-
OTHER SUPPLEMENTAL INFORMATION
Date of Issue September 2, 1997
Date of Maturity September 1, 2019
Authorized Issue
Interest Rates 4.942%
Interest Dates September 1
Principal Maturity Date September 1
Payable at North Suburban Public Utility, Overland Park, Kansas
Fiscal
Year
Ending
Dec 31 Principal Interest Totals
2012 $146,419 $68,958 $215,377
2013 153,655 61,722 215,377
2014 161,249 54,128 215,377
2015 169,219 46,158 215,377
2016 177,582 37,795 215,377
2017 186,359 29,018 215,377
2018 195,569 19,808 215,377
2019 205,221 10,143 215,364
$ 1,395,273$ 327,730 $ 1,723,003
NOTE:
$2,850,000
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Requirements
Village of Glenview, Illinois
Corporate Purpose Notes Series 1997
Long-term Debt Requirements
December 31, 2011
Debt service is payable from the North Maine Water and Sewer Fund.
-202-
Date of Issue April 1, 2003
Date of Maturity December 1, 2012
Authorized Issue
Denomination of Bonds
Interest Rates Bonds Rate
001-032 1.30%
033-068 1.60%
069-105 1.80%
106-142 2.00%
143-180 2.40%
181-219 2.80%
220-260 3.20%
261-302 3.50%
303-346 3.80%
347-391 3.85%
Interest Dates June 1 and December 1
Principal Maturity Date December 1
Payable at American National Bank and Trust Company of Chicago
Fiscal
Year
Ending
Dec 31PrincipalInterestTotalsJune 1AmountDec. 1Amount
2012$225,000$8,662$233,6622012$4,3312012$4,331
NOTE:
Requirements Interest Due on
General Obligation Refunding Bond Series 2003B
Long-term Debt Requirements
December 31, 2011
Theproceeds of theGeneralObligationRefundingBondsSeries2003Bwereused to fullyrefundthe
Series 1992 Bonds. Principal and interest will be paid from the Wholesale Water Fund.
$1,955,000
$5,000
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Village of Glenview, Illinois
-203-
Date of Issue August 1, 2004
Date of Maturity December 1, 2014
Authorized Issue
Denomination of Bonds
Interest Rates Bonds Rate
001-025 2.000%
026-050 2.125%
051-110 2.500%
111-215 2.750%
216-570 3.000%
571-980 3.250%
981-1340 3.375%
1341-3350 3.700%
3351-5000 4.000%
Interest Dates June 1 and December 1
Principal Maturity Date December 1
Payable at Wells Fargo Bank, N.A., Chicago, Illinois
Fiscal
Year
Ending
Dec 31PrincipalInterestTotalsJune 1AmountDec. 1Amount
2012$2,125,000 $701,850 $2,826,8502012$350,925 2012$350,925
20137,925,000 623,226 8,548,2262013311,613 2013311,613
20148,250,000 330,000 8,580,0002014165,000 2014165,000
$18,300,000$1,655,076$19,955,076$827,538 $827,538
NOTE:Principal and interest is payable from the Special Tax Allocation Fund.
$25,000,000
General Obligation Bond Series 2004A
Long-term Debt Requirements
December 31, 2011
Village of Glenview, Illinois
$5,000
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Interest Due onRequirements
-204-
Date of Issue August 1, 2004
Date of Maturity December 1, 2024
Authorized Issue
Denomination of Bonds
Interest Rates
BondsRate BondsRate
001-4133.500%2429-27284.250%
414-6333.625%2729-30434.375%
634-8633.875%3044-33734.400%
864-18634.000%3374-37184.500%
1864-21384.100%3719-40834.625%
2139-24284.100%4084-44634.700%
Interest Dates June 1 and December 1
Principal Maturity Date December 1
Payable at Wells Fargo Bank, N.A., Chicago, IL
Fiscal
Year
Ending
Dec 31PrincipalInterestTotalsJune 1AmountDec. 1Amount
2012$1,150,000 $818,426 $1,968,426 2012$409,213 2012$409,213
20131,175,000 773,862 1,948,862 2013386,931 2013386,931
20141,225,000 726,862 1,951,862 2014363,431 2014363,431
20151,275,000 677,862 1,952,862 2015338,931 2015338,931
20161,325,000 626,862 1,951,862 2016313,431 2016313,431
20171,375,000 573,862 1,948,862 2017286,931 2017286,931
20181,450,000 517,488 1,967,488 2018258,744 2018258,744
20191,500,000 456,588 1,956,588 2019228,294 2019228,294
20201,575,000 392,838 1,967,838 2020196,419 2020196,419
20211,650,000 323,932 1,973,932 2021161,966 2021161,966
(Continued)
$22,315,000
Long-term Debt Requirements
December 31, 2011
Interest Due on
$5,000
Village of Glenview, Illinois
General Obligation Bond Series 2004B
Requirements
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
-205-
Fiscal
Year
Ending
Dec 31PrincipalInterestTotalsJune 1AmountDec. 1Amount
2022$1,725,000 $251,332 $1,976,332 2022$125,666 2022$125,666
20231,825,000 173,706 1,998,706 202386,853 202386,853
20241,900,000 89,300 1,989,300 202444,650 202444,650
$19,150,000$6,402,920$25,552,920$3,201,460 $3,201,460
NOTE:Principal and interest is payable from a property tax levy.
(Concluded)
Village of Glenview, Illinois
Long-term Debt Requirements
December 31, 2011
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS (Continued)
General Obligation Bond Series 2004B (Continued)
Requirements Interest Due on
-206-
Date of Issue November 1, 2005
Date of Maturity December 1, 2018
Authorized Issue
Denomination of Bonds
Interest Rates
BondsRate BondsRate
001-0053.50%3.75%
006-1453.75%3.75%
146-4003.75%3.75%
401-6753.75%3.75%
Interest Dates June 1 and December 1
Principal Maturity Date December 1
Payable at Wells Fargo Bank, N.A., Chicago, Illinois
Fiscal
Year
Ending
Dec 31PrincipalInterestTotalsJune 1AmountDec. 1Amount
2012$700,000 $374,062 $1,074,062 2012$187,031 2012$187,031
20131,275,000 347,812 1,622,812 2013173,906 2013173,906
20141,375,000 300,000 1,675,000 2014150,000 2014150,000
20151,475,000 248,438 1,723,438 2015124,219 2015124,219
20161,600,000 193,124 1,793,124 201696,562 201696,562
20171,725,000 133,124 1,858,124 201766,562 201766,562
20181,825,000 68,438 1,893,438 201834,219 201834,219
$9,975,000$1,664,998$11,639,998$832,499 $832,499
NOTE:Principal and interest is payable from the Special Tax Allocation Fund.
1291-1635
1636-2000
Village of Glenview, Illinois
General Obligation Refunding Bond Series 2005
Long-term Debt Requirements
December 31, 2011
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Interest Due on
$10,000,000
$5,000
676-970
971-1290
Requirements
-207-
Date of Issue December 1, 2006
Date of Maturity December 1, 2018
Authorized Issue
Denomination of Bonds
Interest Rates 3.75%
Interest Dates June 1 and December 1
Principal Maturity Date December 1
Payable at Wells Fargo Bank, N.A., Chicago, Illinois
Fiscal
Year
Ending
Dec 31PrincipalInterestTotalsJune 1AmountDec. 1Amount
2012$- $375,000 $375,000 2012$187,500 2012$187,500
2013 - 375,000 375,000 2013187,500 2013187,500
2014 - 375,000 375,000 2014187,500 2014187,500
20152,350,000 375,000 2,725,000 2015187,500 2015187,500
20162,450,000 286,876 2,736,876 2016143,438 2016143,438
20172,550,000 195,000 2,745,000 201797,500 201797,500
20182,650,000 99,376 2,749,376 201849,688 201849,688
$10,000,000$2,081,252$12,081,252$1,040,626 $1,040,626
NOTE:Principal and interest is payable from the Special Tax Allocation Fund.
$5,000
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
$10,000,000
Interest Due on
Village of Glenview, Illinois
General Obligation Bond Series 2006A
Long-term Debt Requirements
December 31, 2011
Requirements
-208-
Date of Issue December 15, 2007
Date of Maturity December 1, 2016
Authorized Issue
Denomination of Bonds
Interest Rates 3.50% - 3.75%
Interest Dates June 1 and December 1
Principal Maturity Date December 1
Payable at Wells Fargo Bank, N.A., Chicago, Illinois
Fiscal
Year
Ending
Dec 31PrincipalInterestTotalsJune 1AmountDec. 1Amount
2012$550,000 $105,712 $655,712 2012$52,856 2012$52,856
2013575,000 86,462 661,462 201343,231 201343,231
2014600,000 66,338 666,338 201433,169 201433,169
2015615,000 45,338 660,338 201522,669 201522,669
2016635,000 23,812 658,812 201611,906 201611,906
$ 2,975,000$ 327,662$ 3,302,662$ 163,831 $ 163,831
NOTE:
Village of Glenview, Illinois
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
$5,000,000
December 31, 2011
General Obligation Bond Series 2007A
Long-term Debt Requirements
Principalandinterest is payablefromtheGlenviewWaterFundandtheGlenviewSanitarySewer
Fund.
Requirements
$5,000
Interest Due on
-209-
Date of Issue December 15, 2007
Date of Maturity December 1, 2016
Authorized Issue
Denomination of Bonds
Interest Rates 4.80% - 5.00%
Interest Dates June 1 and December 1
Principal Maturity Date December 1
Payable at Wells Fargo Bank, N.A., Chicago, Illinois
Fiscal
Year
Ending
Dec 31PrincipalInterestTotalsJune 1AmountDec. 1Amount
2012$135,000 $32,534 $167,534 2012$16,267 2012$16,267
2013135,000 25,984 160,984 201312,992 201312,992
2014130,000 19,370 149,370 20149,685 20149,685
2015130,000 12,934 142,934 20156,467 20156,467
2016130,000 6,500 136,500 20163,250 20163,250
$660,000$97,322$757,322$48,661 $48,661
NOTE:Principal and interest is payable from the North Maine Water and Sewer Fund.
December 31, 2011
$5,000
$1,200,000
Village of Glenview, Illinois
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Long-term Debt Requirements
General Obligation Bond Series 2007B
Requirements Interest Due on
-210-
Date of Issue May 5, 2009
Date of Maturity December 1, 2029
Authorized Issue
Denomination of Bonds
Interest Rates 3.000 - 4.125%
Interest Dates June 1 and December 1
Principal Maturity Date December 1
Payable at Wells Fargo Bank, N.A., Chicago, Illinois
Fiscal
Year
Ending
Dec 31PrincipalInterestTotalsJune 1AmountDec. 1Amount
2012$1,045,000 $910,181 $1,955,1812012$455,0912012$455,091
20131,070,000 878,831 1,948,8312013439,4162013439,416
20141,095,000 846,731 1,941,7312014423,3662014423,366
20151,125,000 813,881 1,938,8812015406,9412015406,941
20161,155,000 780,131 1,935,1312016390,0662016390,066
20171,190,000 745,481 1,935,4812017372,7412017372,741
20181,225,000 703,831 1,928,8312018351,9162018351,916
20191,270,000 660,956 1,930,9562019330,4782019330,478
20201,310,000 616,506 1,926,5062020308,2532020308,253
20211,360,000 567,381 1,927,3812021283,6912021283,691
20221,410,000 516,381 1,926,3812022258,1912022258,191
20231,460,000 463,506 1,923,5062023231,7532023231,753
20241,520,000 408,756 1,928,7562024204,3782024204,378
20251,580,000 347,956 1,927,9562025173,9782025173,978
20261,645,000 284,756 1,929,7562026142,3782026142,378
20271,715,000 218,956 1,933,9562027109,4782027109,478
20281,785,000 150,356 1,935,356202875,178202875,178
20291,860,000 76,725 1,936,725202938,363202938,363
$24,820,000$9,991,306 $34,811,306$4,995,653 $4,995,653
NOTE:
Village of Glenview, Illinois
General Obligation Bond Taxable Series 2009A
Long-term Debt Requirements
$26,300,000
Interest Due onRequirements
December 31, 2011
Principal and interest is payable from a library property tax levy.
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
$5,000
-211-
Date of Issue October 21, 2009
Date of Maturity December 1, 2018
Authorized Issue
Denomination of Bonds
Interest Rates 2.00 - 4.00%
Interest Dates June 1 and December 1
Principal Maturity Date December 1
Payable at Wells Fargo Bank, N.A., Chicago, Illinois
Fiscal
Year
Ending
Dec 31PrincipalInterestTotalsJune 1AmountDec. 1Amount
2012$885,000 $237,150 $1,122,1502012$118,5752012$118,575
2013385,000 219,450 604,4502013109,7252013109,725
20141,380,000 211,750 1,591,7502014105,8752014105,875
20151,370,000 177,250 1,547,250201588,625201588,625
20161,365,000 136,150 1,501,150201668,075201668,075
20171,360,000 95,200 1,455,200201747,600201747,600
20181,360,000 54,400 1,414,400201827,200201827,200
$8,105,000$1,131,350 $9,236,350$565,675 $565,675
NOTE:
$11,290,000
December 31, 2011
Principal and interest is payable from the Special Tax Allocation Fund.
Village of Glenview, Illinois
Long-term Debt Requirements
General Obligation Bond Taxable Series 2009D
$5,000
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Requirements Interest Due on
-212-
Date of Issue October 21, 2009
Date of Maturity December 1, 2013
Authorized Issue
Denomination of Bonds
Interest Rates 2.35%
Interest Dates June 1 and December 1
Principal Maturity Date December 1
Payable at Wells Fargo Bank, N.A., Chicago, Illinois
Fiscal
Year
Ending
Dec 31PrincipalInterestTotalsJune 1AmountDec. 1Amount
2012$- $660,938 $660,9382012$330,4692012$330,469
201328,125,000 660,938 28,785,9382013330,4692013330,469
$28,125,000$1,321,876 $29,446,876$660,938 $660,938
NOTE:
$5,000
Interest is payablefromSpecialTaxAllocationFund.Principal is payablefromproceeds of land
sales.
Requirements
December 31, 2011
$28,125,000
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Village of Glenview, Illinois
General Obligation Bond Taxable Series 2009E
Long-term Debt Requirements
Interest Due on
-213-
Date of Issue September 27, 2011
Date of Maturity December 1, 2012
Authorized Issue
Denomination of Bonds
Interest Rates 1.50 - 3.00%
Interest Dates June 1 and December 1
Principal Maturity Date December 1
Payable at Wells Fargo Bank, N.A., Chicago, Illinois
Fiscal
Year
Ending
Dec 31PrincipalInterestTotalsJune 1AmountDec. 1Amount
2012$5,460,000$163,800 $5,623,8002012$81,900 2012$81,900
NOTE:Principal and interest is payable from Special Tax Allocation Fund.
Village of Glenview, Illinois
General Obligation Refunding Bond Series 2011
Long-term Debt Requirements
December 31, 2011
$11,035,000
$5,000
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Requirements Interest Due on
-214-
Special
Tax Glen Glen
AllocationRedevelopmentCaretaker
ASSETS
Current assets
Cash and cash equivalents $4,763,602 $- $-
Investments 7,233,101 - -
Receivables, net of allowances
Other receivables 1,803,668 - -
Prepaid expenses 75,725 - -
Land held for resale 23,891,262 - -
Total current assets $37,767,358 $- $-
LIABILITIES AND FUND BALANCES
Current liabilities
Accounts payable $12,991,944 $- $-
Other payables - - -
Unearned revenues 6,750 - -
Advances from other funds 15,199,590 - -
Total current liabilities 28,198,284 - -
Fund balances 9,569,074 - -
Total liabilities and fund balances $37,767,358 $- $-
Special Revenue Funds
Village of Glenview, Illinois
Glenview Naval Air Station (GNAS) Redevelopment Area Funds
Combining Balance Sheet
December 31, 2011
-215-
Total
Glen2006A GNAS
Glen LandCapitalBondRedevelopment
SalesProjectsProjects Area
$- $593,636 $- $5,357,238
- 8,378,542 - 15,611,643
- 1,275 - 1,804,943
- - - 75,725
- - - 23,891,262
$- $8,973,453 $- $46,740,811
$- $79,240 $- $13,071,184
- 108,292 - 108,292
- - - 6,750
- - - 15,199,590
- 187,532 - 28,385,816
- 8,785,921 - 18,354,995
$- $8,973,453 $- $46,740,811
Capital Project Funds
-216-
Special
Tax Glen Glen
AllocationRedevelopmentCaretaker
Revenues
Local taxes
Property taxes - incremental $29,281,652 $- $-
Charges for services 17,180 - -
Intergovernmental 248,874 - -
Other revenues 176,503 - -
Investment income 132,149 - -
Total revenues 29,856,358 - -
Expenditures
Current
General government 17,479,494 - -
Capital outlay 8,694 - -
Debt service
Bond issuance costs 38,818 - -
Principal 8,945,000 - -
Interest and other 2,903,359 - -
Total expenditures 29,375,365 - -
Excess (deficiency) of revenues over expenditures 480,993 - -
Other financing sources (uses)
Issuance of bonds 11,035,000 - -
Transfers in 11,329,664 - -
Transfers (out)(276,277) (283,050) (987,315)
Total other financing sources (uses)11,088,387 (283,050) (987,315)
Net change in fund balance 11,569,380 (283,050) (987,315)
Fund balance (deficit)
Beginning (2,000,306) 283,050 987,315
Ending $9,569,074 $- $-
Special Revenue Funds
Village of Glenview, Illinois
Glenview Naval Air Station (GNAS) Redevelopment Area Funds
Combining Schedule of Revenues, Expenditures, and Changes in Fund Balances (Deficit)
For the Year Ended December 31, 2011
-217-
Total
Glen GNAS
Glen LandCapital2006A BondRedevelopment
SalesProjectsProjects Area
$- $- $- $29,281,652
- - - 17,180
- 1,114,660 - 1,363,534
- - - 176,503
- 25,415 - 157,564
- 1,140,075 - 30,996,433
- 82,648 - 17,562,142
- 600,846 - 609,540
- - - 38,818
- - - 8,945,000
- - - 2,903,359
- 683,494 - 30,058,859
- 456,581 - 937,574
- - - 11,035,000
- 9,203,846 - 20,533,510
(10,057,895) (1,072,876) (9,201,113) (21,878,526)
(10,057,895) 8,130,970 (9,201,113) (1,310,016)
(10,057,895) 8,587,551 (9,201,113) (372,442)
10,057,895 198,370 9,201,113 18,727,437
$- $8,785,921 $- $18,354,995
Capital Project Funds
-218-
Page
Financial Trends
220 - 229
Revenue Capacity
230 - 235
Debt Capacity
236 - 239
Demographic and Economic Information
240 - 241
Operating Information
242 - 245
Theseschedulescontaintrendinformation to helpthereaderunderstandhowtheVillage's
financial performance and well-being have changed over time.
Theseschedulescontaininformation to helpthereaderassesstheVillage'smost
significant local revenue sources.
Theseschedulespresentinformation to helpthereaderassesstheaffordabilityofthe
Village'scurrentlevelsofoutstandingdebtandtheVillage'sability to issueadditional
debt in the future.
Sources:Unlessotherwisenoted,theinformation in theseschedules is derivedfromthecomprehensive
annualfinancialreportsfortherelevantyear.TheVillageimplementedGASBStatement34 in fiscalyear
2003; schedules presenting government-wide information include information beginning in that year.
Theseschedulescontainserviceandinfrastructuredata to helpthereaderunderstand
howtheinformation in theVillage'sfinancialreportrelates to theservicestheVillage
provides and the activities it performs.
Theseschedulesofferdemographicandeconomicindicators to helpthereader
understand the environment within which the Village's financial activities take place.
Village of Glenview, Illinois
Index to Statistical Section
December 31, 2011
ThispartoftheVillageofGlenview'scomprehensiveannualfinancialreportpresentsdetailed
informationasacontextforunderstandingwhattheinformation in thefinancialstatements,note
disclosures, and required supplementary information says about the Village's overall financial health.
-219-
2003 2004 2005
Governmental activities
Invested in capital assets, net of related debt $47,651,206 $28,587,161 $78,806,902
Restricted 57,086,081 82,555,054 26,303,618
Unrestricted 23,515,126 34,693,402 58,039,098
Total governmental activities net assets 128,252,413 145,835,617 163,149,618
Business-type activities
Invested in capital assets, net of related debt 25,625,660 25,037,005 29,095,596
Unrestricted 15,802,389 13,235,513 12,594,422
Total business-type activities net assets 41,428,049 38,272,518 41,690,018
Total primary government
Invested in capital assets, net of related debt 73,276,866 53,624,166 107,902,498
Restricted 57,086,081 82,555,054 26,303,618
Unrestricted 39,317,515 47,928,915 70,633,520
Total primary government net assets $169,680,462 $184,108,135 $204,839,636
Source: The Village of Glenview's Comprehensive Annual Financial Report.
Village of Glenview, Illinois
SCHEDULE OF NET ASSETS
Last Nine Fiscal Years
-220-
2006 2007 2008 2009 2010 2011
$95,946,179 $83,298,383 $78,477,141 $87,607,488 $93,936,562 $102,217,913
53,518,524 54,229,537 49,074,532 39,881,012 29,923,363 23,711,651
38,168,571 55,636,297 68,560,085 69,018,535 66,754,133 68,927,169
187,633,274 193,164,217 196,111,758 196,507,035 190,614,058 194,856,733
42,488,713 40,143,214 43,348,719 45,206,019 51,450,402 55,566,298
7,552,672 12,344,058 10,612,213 7,860,336 2,104,898 5,373,918
50,041,385 52,487,272 53,960,932 53,066,355 53,555,300 60,940,216
138,434,892 123,441,597 121,825,860 132,813,507 145,386,964 157,784,211
53,518,524 54,229,537 49,074,532 39,881,012 29,923,363 23,711,651
45,721,243 67,980,355 79,172,298 76,878,871 68,859,031 74,301,087
$237,674,659 $245,651,489 $250,072,690 $249,573,390 $244,169,358 $255,796,949
-221-
2003 2004 2005
Expenses
Governmental activities
General government $16,286,886 $20,361,570 $20,282,723
Public safety 19,048,844 19,521,633 25,343,033
Highways and streets 79,331,667 8,916,140 13,493,770
Public works - - -
Development - - -
Interest on long-term debt 3,724,873 4,446,952 5,066,331
Total governmental activities expenses 118,392,270 53,246,295 64,185,857
Business-type activities
Water services 6,160,140 7,514,285 9,874,399
North Maine water and sewer services 5,042,768 5,021,042 4,923,144
Sanitary sewer services 635,561 921,736 1,083,937
Wholesale water 1,038,073 935,242 1,178,948
Commuter parking 196,475 335,308 412,459
Total business-type activities 13,073,017 14,727,613 17,472,887
Total primary government expenses 131,465,287 67,973,908 64,598,316
Program Revenues
Governmental activities
Charges for services
General government 1,825,112 4,844,398 9,613,146
Public safety 184,334 3,751,639 3,826,995
Development - - -
Operating grants and contributions - 1,323,171 1,684,597
Capital grants and contributions 2,628,122 4,188,201 2,603,905
Total governmental activities program revenues 4,637,568 14,107,409 17,728,643
Business-type activities
Charges for services - water and sewer
Water services 8,739,735 7,446,294 8,726,117
North Maine water and sewer services 6,806,352 5,532,457 5,872,657
Sanitary sewer services 1,252,398 1,054,923 1,576,519
Wholesale water 1,709,155 1,655,339 1,707,316
Commuter parking 300,717 374,653 450,026
Operating grants and contributions - - -
Capital grants and contributions - - -
Total business-type activities program revenues 18,808,357 16,063,666 18,332,635
Total government program revenues 23,445,925 30,171,075 36,061,278
Net (Expense)/Revenue
Governmental activities (113,754,702) (39,138,886) (46,457,214)
Business-type activities 5,735,340 1,336,053 859,748
Total government net expense (108,019,362) (37,802,833) (45,597,466)
Village of Glenview, Illinois
SCHEDULE OF CHANGES IN NET ASSETS
Last Nine Fiscal Years
-222-
2006 2007 2008 2009 2010 2011
$13,929,198 $24,038,572 $27,195,744 $29,780,621 $32,335,971 $33,989,230
28,395,261 25,405,356 27,622,472 26,456,771 30,475,113 25,769,097
27,582,335 21,897,066 - - - -
- - 13,998,908 12,741,129 13,981,277 8,581,360
- - 7,306,324 8,467,340 12,198,120 10,029,890
4,813,795 6,751,793 6,068,865 6,001,886 4,085,152 3,353,913
74,720,589 78,092,787 82,192,313 83,447,747 93,075,633 81,723,490
8,168,894 8,241,841 8,254,541 7,733,048 9,265,407 8,795,466
5,396,165 5,822,693 6,148,151 5,782,216 6,267,880 6,197,752
1,544,514 1,221,484 1,473,318 1,238,383 1,948,357 1,801,454
1,146,800 1,675,442 1,110,176 1,074,812 1,083,206 1,119,994
433,318 458,586 381,133 476,940 383,196 386,244
16,689,691 17,420,046 17,367,319 16,305,399 18,948,046 18,300,910
91,410,280 95,512,833 99,559,632 99,753,146 112,023,679 100,024,400
10,124,924 5,088,121 3,230,320 2,324,730 3,931,687 3,854,148
4,059,578 4,104,495 4,076,188 5,274,319 5,345,151 5,195,936
- - 2,020,840 3,218,677 3,993,971 2,015,239
1,576,594 2,644,741 1,401,777 1,172,899 1,662,479 1,832,805
702,691 1,473,479 - 1,267,384 2,362,508 2,439,618
16,463,787 13,310,836 10,729,125 13,258,009 17,295,796 15,337,746
7,654,017 8,251,413 8,135,293 8,370,780 9,045,480 9,751,605
5,928,523 6,418,577 6,824,636 7,206,186 7,473,673 8,120,035
1,430,401 1,762,694 1,570,372 1,831,857 2,114,548 2,314,028
1,692,776 1,522,626 1,863,483 1,782,495 1,997,367 2,156,636
415,687 484,393 466,356 529,886 524,244 525,991
- - - - - 27,854
- 73,908 - - - -
17,121,404 18,513,611 18,860,140 19,721,204 21,155,312 22,896,149
33,585,191 31,824,447 29,589,265 32,979,213 38,451,108 38,233,895
(58,256,802) (64,781,951) (71,463,188) (70,189,738) (75,779,837) (66,385,744)
431,713 1,093,565 1,492,821 3,415,805 2,207,266 4,595,239
(57,825,089) (63,688,386) (69,970,367) (66,773,933) (73,572,571) (61,790,505)
(Continued)
-223-
2003 2004 2005
General revenues and other changes in net assets
Governmental activities
Taxes
Property taxes $14,983,339 $20,500,281 $27,379,366
Other taxes 6,354,530 865,343 8,932,829
Sales taxes 10,830,776 13,588,877 16,410,735
Income taxes 2,593,235 2,659,483 3,521,197
Intergovernmental 7,154,252 6,385,543 739,758
Investment income 2,941,206 1,093,764 2,911,937
Miscellaneous 1,012,998 1,637,093 367,096
Gain on sale of capital assets 8,844,386 2,829,367 91,504
Transfers 2,817,860 958,460 167,762
Contributions 2,137,129 5,130,113 3,687,472
Total governmental activities 59,669,711 55,648,324 64,209,656
Business-type activities
Investment income 93,243 97,800 252,200
Miscellaneous 1,165,984 - 75,102
Gain (loss) on sale of capital assets - - (4,142)
Transfers (2,708,503) - (167,762)
Total business-type activities (1,449,276) 97,800 155,398
Total primary government 58,220,435 55,746,124 64,365,054
Change in net assets
Governmental activities (56,222,120) 17,467,898 14,077,300
Business-type activities 6,423,193 475,393 4,690,288
Total primary government change in net assets$(49,798,927) $17,943,291 $18,767,588
Source: The Village of Glenview's Comprehensive Annual Financial Report.
(Concluded)
Village of Glenview, Illinois
SCHEDULE OF CHANGES IN NET ASSETS (Continued)
Last Nine Fiscal Years
-224-
2006 2007 2008 2009 2010 2011
$31,368,247 $29,533,794 $37,030,734 $33,863,907 $34,759,914 $40,146,639
7,674,636 7,938,804 7,213,927 12,659,075 12,962,485 13,257,071
17,797,774 18,238,196 18,649,183 11,943,633 12,336,353 12,792,723
3,342,154 3,933,680 4,207,152 3,612,282 3,497,759 3,823,315
801,157 959,789 1,486,645 2,519,306 2,772,575 2,502,500
3,553,730 7,202,556 2,234,453 975,360 731,839 397,478
271,124 2,473,480 3,301,455 611,793 470,187 464,084
18,899,176 467,801 - - - -
(4,697,121) (989,499) 287,180 4,399,659 1,777,004 (2,755,391)
- - - - - -
79,010,877 69,758,601 74,410,729 70,585,015 69,308,116 70,628,419
427,441 351,186 232,871 60,349 24,419 26,807
18,166 33,313 35,148 28,928 (18,808) 7,479
(48,424) (21,676) - - - -
4,697,721 989,499 (287,180) (4,399,659) (1,723,932) 2,755,391
5,094,904 1,352,322 (19,161) (4,310,382) (1,718,321) 2,789,677
84,105,781 71,110,923 74,391,568 66,274,633 67,589,795 73,418,096
20,753,475 4,976,650 2,947,541 395,277 (6,471,721) 4,242,675
5,526,617 2,445,887 1,473,660 (894,577) 488,945 7,384,916
$26,280,092 $7,422,537 $4,421,201 $(499,300) $(5,982,776) $11,627,591
(Concluded)
-225-
2002 2003 2004 2005
General Fund
Reserved $10,000 $- $30,860 $150,800
Unreserved 15,888,842 17,873,812 19,125,436 28,919,794
Nonspendable - - - -
Unassigned - - - -
Total General Fund 15,898,842 17,873,812 19,156,296 29,070,594
All other governmental funds
Reserved 117,440,162 57,272,861 95,327,109 60,405,636
Unreserved, reported in
Special revenue funds 3,764,779 2,394,290 2,508,852 (2,175,404)
Capital projects funds - (2,557,215) (51,450) 400,940
Debt service funds (3,553,126) (5,172,490) (11,871,587) (16,480,597)
Restricted - - - -
Total all other
governmental funds117,651,815 51,937,446 85,912,924 42,150,575
Total fund balances -
governmental funds $133,550,657 $69,811,258 $105,069,220 $71,221,169
Source: The Village of Glenview's Comprehensive Annual Financial Reports.
Village of Glenview, Illinois
FUND BALANCES - GOVERNMENTAL FUNDS
Last Ten Fiscal Years
-226-
2006 2007 2008 2009 2010 2011
$250,974 $202,583 $236,776 $82,583 $82,583 $-
23,543,445 18,625,051 15,965,220 20,044,782 21,994,901 -
- - - - - 131,424
- - - - - 24,086,602
23,794,419 18,827,634 16,201,996 20,127,365 22,077,484 24,218,026
68,100,595 70,662,782 66,882,660 59,293,215 49,720,439 -
3,098,776 (2,172,942) 1,495,858 1,832,064 (921,028) -
37,589 (33,701) 14,453,200 10,053,987 10,057,895 -
13,962,128 14,513,477 (77,170) 15,676 30,942 -
- - - - - 52,257,800
85,199,088 82,969,616 82,754,548 71,194,942 58,888,248 52,257,800
$108,993,507 $101,797,250 $98,956,544 $91,322,307 $80,965,732 $76,475,826
-227-
2002 2003 2004 2005
Revenues
Taxes $15,725,219 $21,337,869 $28,087,345 $38,404,632
Intergovernmental 16,344,483 20,578,263 25,352,795 25,621,631
Charges for services 2,754,026 2,757,078 3,184,513 8,197,463
Licenses and permits 2,415,483 1,671,554 2,128,826 1,935,601
Fines and forfeitures 207,720 208,936 249,956 223,917
Investment Income 4,431,745 2,941,206 1,814,903 3,863,413
Miscellaneous
Land sales - 8,919,398 2,893,460 -
Other 7,998,164 1,012,998 741,306 696,380
Total revenues 49,876,840 59,427,302 64,453,104 78,943,037
Expenditures
General government 10,999,766 16,342,726 20,690,822 17,362,221
Public safety 16,314,536 18,536,695 19,439,605 24,629,821
Highways and streets 6,133,143 7,083,597 7,380,427 10,227,675
Public works - - - -
Development - - - -
Debt service
Principal 4,180,000 4,700,000 4,762,700 9,124,652
Interest and fiscal charges 3,905,655 3,726,545 4,986,212 6,075,973
Bond issuance costs - - 104,718
Capital outlay 54,651,582 70,331,142 19,988,453 46,376,551
Miscellaneous 717,910 - - -
Total expenditures 96,902,592 120,720,705 77,248,219 113,901,611
Excess of revenues over (under) expenditures(47,025,752) (61,293,403) (12,795,115) (34,958,574)
Other financing sources (uses)
Transfers in 38,551,596 38,815,909 23,756,688 21,885,794
Transfers out (35,579,379) (35,975,800) (22,798,228) (21,718,032)
Bonds issued 6,885,000 6,150,000 47,315,000 10,000,000
Discount on bonds issued - (79,919) (164,724) -
Premium on bonds issued - - 65,614 44,658
Payment to escrow agent (6,891,305) (4,767,130) - (10,000,000)
Sale of capital assets - - 37,801 91,504
Total other financing sources (uses)2,965,912 4,143,060 48,212,151 303,924
Net change in fund balances $(44,059,840) $(57,150,343) $35,417,036 $(34,654,650)
Debt service as a percentage of
noncapital expenditures 19.14%16.34%12.43%22.51%
Source: The Village of Glenview's Comprehensive Annual Financial Report.
Village of Glenview, Illinois
CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS
Last Ten Fiscal Years
-228-
2006 2007 2008 2009 2010 2011
$40,230,230 $40,995,097 $49,775,754 $46,522,982 $47,721,989 $53,403,710
25,820,915 26,398,055 23,994,061 23,236,550 25,493,952 26,342,403
3,125,289 3,347,415 3,879,939 5,787,188 6,892,913 6,111,175
1,444,631 1,317,359 1,492,506 2,441,730 3,190,826 1,859,161
223,430 242,596 174,506 189,433 134,783 181,361
3,766,390 6,139,481 2,234,453 975,370 731,839 397,478
18,899,176 1,003,082 3,126,283 - - -
732,406 1,892,301 175,172 46,804 219,046 205,014
94,242,467 81,335,386 84,852,674 79,200,057 84,385,348 88,500,302
23,179,532 24,981,918 26,494,899 27,133,683 29,090,926 31,153,019
23,480,423 25,418,302 26,685,166 25,745,800 27,884,435 25,710,435
9,257,360 12,229,547 - - - -
- - 7,656,205 7,918,533 7,811,605 7,883,609
- - 3,892,684 6,058,864 5,723,642 4,293,220
9,490,000 9,885,000 9,335,000 9,660,000 9,740,000 10,051,617
5,764,058 6,678,361 6,011,806 5,304,081 4,246,896 3,762,159
110,099 - - 37,153 - 38,818
18,451,941 8,918,984 9,593,304 8,858,147 12,030,923 8,336,649
- - - - - -
89,733,413 88,112,112 89,669,064 90,716,261 96,528,427 91,229,526
4,509,054 (6,776,726) (4,816,390) (11,516,204) (12,143,079) (2,729,224)
32,556,673 34,081,992 20,474,754 19,116,695 15,678,978 31,368,232
(37,162,062) (35,071,491) (18,499,070) (15,420,632) (13,901,974) (33,163,914)
37,940,000 - - 39,838,247 - 11,035,000
(87,732) - - - - -
11,371 - - - - -
- - - (39,652,343) - (11,000,000)
5,035 15,675 - - 9,500 -
33,263,285 (973,824) 1,975,684 3,881,967 1,786,504 (1,760,682)
$37,772,339 $(7,750,550) $(2,840,706) $(7,634,237) $(10,356,575) $(4,489,906)
18.28%20.92%17.87%18.33%16.55%15.71%
-229-
Tax Levy Residential Commercial Industrial
Year Property Property Property Railroad
2001$1,085,082,229 $296,071,283 $130,332,102 $134,910
2002 1,150,749,328 316,958,308 139,565,768 160,583
2003 1,168,628,313 320,373,025 141,049,675 154,176
2004 1,583,440,346 462,293,352 202,403,525 196,030
2005 1,753,091,650 507,205,734 255,723,046 184,075
2006 1,478,823,650 477,703,360 213,822,559 184,075
2007 1,878,422,371 572,300,107 242,310,888 202,163
2008 2,026,139,779 638,159,198 248,243,038 221,084
2009 2,198,443,085 595,701,792 207,259,989 266,417
2010 NA NA NA NA
Data Source
Office of the County Clerk
Note : Property in the Village is reassessed each year. Property is assessed at 33% of actual value.
NA - Information is not available as of the date of this report.
Village of Glenview, Illinois
ASSESSED VALUE AND ACTUAL VALUE OF TAXABLE PROPERTY
Last Ten Levy Years
-230-
Total EstimatedEstimated
Total TaxableDirect Actual Actual
Assessed Tax TaxableTaxable
Farm Value Rate Value Value
$22,175 $1,511,642,699 5.44$4,534,928,097 33.333%
80,255 1,607,514,242 5.124,822,542,726 33.333
52,653 1,630,257,842 5.044,890,773,526 33.333
589 2,248,333,842 4.276,745,001,526 33.333
589 2,516,205,666 4.217,548,616,998 33.333
589 2,170,534,233 4.156,511,602,699 33.333
589 2,693,236,118 3.698,079,708,354 33.333
589 2,912,763,6883.508,738,291,064 33.333
3683,001,671,6513.629,005,014,95333.333
NA 2,714,732,1444.088,144,196,43233.333
-231-
Direct and Overlapping Goverments2001200220032004200520062007200820092010
Village of Glenview
Corporate 0.3220.2880.2590.2140.2520.1840.1840.1740.1480.162
Bonds and Interest 0.1170.1130.1120.0760.0740.0990.0720.0680.0680.076
Police Pension 0.0360.0430.0490.0480.0450.0600.0490.0400.0600.065
Fire Pension 0.0360.0360.0460.0470.0510.0720.0640.0680.0850.105
IMRF 0.0330.0320.0380.0430.0000.0000.0000.0000.0000.000
Total Direct Tax Rate 0.5450.5120.5050.4270.4210.4150.3690.3500.3620.408
Glenview Public Library 0.2280.2700.2930.2590.2490.2460.1490.1950.2100.253
Glenview Special Service Area #9 0.5880.5880.4870.4060.4020.2840.2270.2000.0930.000
Glenview Special Service Area #100.6280.6280.5110.4270.4210.2930.2380.2090.1000.000
Glenview Special Service Area #110.2390.2390.2140.1690.1600.1600.1270.1750.0000.000
Glenview Special Service Area #120.5110.5110.3650.2850.2520.2420.1720.1590.0000.000
Glenview Special Service Area #170.5880.5880.5500.3740.3170.3240.1920.1920.1770.210
Glenview Special Service Area #180.5210.5210.4610.3880.3630.3630.2690.2420.2210.280
Glenview Special Service Area #200.2940.2940.2750.2360.2190.2170.1800.1600.1550.165
Glenview Special Service Area #220.3040.3040.2900.2140.1960.1930.1370.1290.1170.142
Glenview Special Service Area #240.5700.5700.5350.5380.5070.0000.0000.0000.0000.000
Glenview Special Service Area #271.6221.6220.0000.0000.0000.0000.0000.0000.0000.000
Glenview Special Service Area #310.4860.4860.2370.0000.0000.0000.0000.0000.0000.000
Glenview Special Service Area #320.1150.1150.0950.0860.0810.0820.0750.0680.0730.074
Glenview Special Service Area #330.6300.6300.5900.4560.4270.4400.3490.3080.2870.333
Glenview Special Service Area #350.3940.3940.3700.3130.2840.2920.2430.2070.2040.223
Glenview Special Service Area #360.0000.0000.0000.2330.2000.1910.1430.1270.1080.138
Glenview Special Service Area #370.0000.0000.0000.2070.1760.1630.1220.1180.1020.117
Glenview Special Service Area #380.0000.0000.0000.0000.0000.0000.0000.0000.0000.844
Glenview Special Service Area #420.0000.0000.0000.0000.0000.0000.0000.0000.0000.406
Glenview Special Service Area #470.0000.0000.0000.0000.0000.0000.0000.0000.0000.546
Glenview Special Service Area #550.0000.0000.0000.0000.0000.0000.0000.0000.0000.423
Glenview Special Service Area #560.0000.0000.0000.0000.0000.0000.0000.0000.0000.903
Glenview Special Service Area #570.0000.0000.0000.0000.0000.0000.0000.0000.0000.538
Glenview Special Service Area #620.0000.0000.0000.0000.0000.0000.0000.0000.1650.213
Glenview Special Service Area #630.0000.0000.0000.0000.0000.0000.0000.0000.1830.232
Avoca School District #37 2.4202.4202.3621.9911.9342.0081.5941.7551.6982.022
County Consolidated Elections 0.0320.0000.0290.0000.0140.0000.0120.0000.0210.000
County of Cook 0.7460.6800.6300.5930.5330.5000.4460.4150.3940.423
East Maine School District #63 2.6942.6942.6092.6242.5422.6172.2762.2332.2352.499
Forest Preserve District 0.0670.0610.0590.0600.0600.0570.0530.0510.0490.051
Glenview Park District 0.5110.4920.5160.5050.4900.5110.4290.4290.4220.483
Glenview School District #34 2.6232.5092.5522.3302.2592.3341.9531.9091.8762.160
Golf School District #67 2.2722.2722.3382.1292.0412.0941.8591.8071.9432.203
Maine High School #207 2.0262.0262.0121.7951.7571.8261.6021.5771.6171.782
Maine Township - General 0.0790.0790.0790.0710.0700.0730.0650.0640.0670.075
Maine Township - General Assistance0.0150.0150.0160.0150.0150.0160.0020.0150.0160.018
Maine Township - Road and Bridge0.0390.0390.0400.0360.0360.0380.0340.0330.0340.038
(Continued)
Tax Levy Year
Village of Glenview, Illinois
DIRECT AND OVERLAPPING PROPERTY TAX RATES
Last Ten Tax Levy Years
-232-
Direct and Overlapping Goverments2001200220032004200520062007200820092010
Metropolitan Water Reclamation Dist. 0.4010.3710.3610.3470.3150.2840.2630.2520.2610.274
New Trier High School #203 1.6111.6111.7991.6211.5771.6621.2991.2901.2371.474
New Trier Township - General 0.0440.0440.0450.0370.0370.0730.0310.0310.0300.037
New Trier Township - General Assistance0.0020.0020.0030.0020.0020.0030.0030.0030.0030.004
Niles High School #219 1.8601.8602.0902.0132.0072.3742.1142.1202.2672.538
Niles Township - General 0.0330.0330.0330.0300.0290.0310.0270.0270.0290.032
Niles Township - General Assistance0.0030.0030.0030.0030.0020.0030.0030.0030.0030.004
North Shore Mosquito Abatement 0.0100.0100.0090.0080.0080.0090.0080.0080.0080.009
Northbrook School District #30 2.7652.6592.7452.4162.3312.4712.1382.0892.0892.327
Northfield High School #225 1.7401.6821.7361.5161.4751.6231.4031.3831.3951.609
Northfield Township - General 0.0140.0150.0090.0120.0110.0110.0100.0090.0100.013
Oakton Community College #535 0.1860.1790.1860.1610.1580.1660.1410.1400.1400.160
Suburban T.B. Sanitarium 0.0070.0060.0040.0010.0050.0050.0000.0000.0000.000
West Northfield School District #311.8131.6311.8111.6051.5421.6241.4051.4021.4941.730
Wilmette School District #39 2.7422.7422.7072.2382.1512.2611.8481.8121.7162.314
Northfield Township - Road and Bridge0.0360.0350.0370.0330.0330.0350.0300.0300.0310.036
Northfield Township - General Assistance0.0000.0020.0100.0060.0080.0080.0080.0090.0100.011
Northfield Woods Sanitary District 0.0070.0070.0620.0550.0530.0560.0490.0490.0540.067
North Maine Fire Protection District1.0301.0300.8620.7170.7850.9140.8820.9861.1121.254
Northbrook Park District 0.4690.4490.4590.4100.3850.4060.3420.3320.3340.375
Oak Meadow Sanitary District 0.0090.0090.0590.0480.0450.0450.0040.0370.0380.045
Northwest Mosquito Abatement 0.0100.0100.0100.0090.0090.0090.0080.0080.0080.009
*Property tax rates are per $100 of assessed valuation.
Data Source
Office of the County Clerk
(Concluded)
Tax Levy Year
Village of Glenview, Illinois
DIRECT AND OVERLAPPING PROPERTY TAX RATES (Continued)
Last Ten Tax Levy Years
-233-
Percentage Percentage
of Total of Total
Village Village
Taxable TaxableTaxable Taxable
Principal Assessed AssessedAssessed Assessed
Property Tax Payers ValueRankValuationValueRankValuation
Kraft USA $45,491,405 12.93% $41,189,495 11.52%
Grubb & Ellis 21,819,886 21.41 39,586,718 21.46
Oliver McMillan LLC 31,067,249 31.14
Mid America Asset 16,070,867 41.04 28,229,193 41.04
Cole Real Estate Investments 19,373,904 50.71
Vi (Classic Residence Hyatt)19,027,120 60.70
AGF Sanders Office 17,705,216 70.65
Signode, Division of ITW 16,206,175 31.04 16,565,954 80.61
Anixter, Inc.16,154,886 90.60
Abt Electronics 15,856,299 10 0.58
Parkside Senior Services 8,601,411 70.55
Wyndham International 11,603,435 50.75
Heatherfield Cen LLC 6,660,345 10 0.43
Sanders 2100 LP 6,808,699 90.44
Pearson Tax Dept.11,490,324 60.74
Target Corp. T1167 7,726,526 80.50
Total Principal Property
Tax Payers $152,479,073 9.83% $244,756,034 9.02%
NOTE:
Village of Glenview, Illinois
PRINCIPAL PROPERTY TAX PAYERS
Current Year and Nine Years Ago
Everyefforthasbeenmade to seek out andreportthelargestpropertytaxpayers.However,manytaxpayersownmultiple
parcels, and it is possible that some parcels and their valuations have been overlooked.
At Fiscal Year-end At Fiscal Year-end
December 31, 2002 December 31, 2011
-234-
Tax Property Subsequent
Levy FiscalTaxesTaxesPercentageYearTaxesPercentage
YearYearLeviedReceivedof LevyCollectionsReceivedof Levy
20102011$17,919,376$17,562,71298.01% $- $17,562,712 98.01%
2009201017,136,85816,810,75798.10214,607 17,025,364 99.35
2008200915,858,53915,345,44396.76301,501 15,646,944 98.67
2007200813,919,457 13,398,159 96.25228,869 13,627,028 97.90
2006200714,322,403 12,857,920 89.771,258,740 14,116,660 98.56
2005200614,322,402 11,957,340 83.492,112,389 14,069,729 98.24
2004200513,218,991 13,094,363 99.06(103,057) 12,991,306 98.28
2003200413,000,620 12,445,914 95.73374,478 12,820,392 98.61
2002200312,562,794 12,520,624 99.6633,507 12,554,131 99.93
2001200211,664,605 11,518,964 98.75142,152 11,661,116 99.97
Source: Office of the County Clerk
Fiscal Year of the Levy Total Collections Per Levy
NOTE:Property in theVillage is assessedannually.Property is assessed at approximately33%of theactualvalue
on January 1 and property taxes are levied in December of the tax levy year.
Collected within the
Village of Glenview, Illinois
PROPERTY TAX LEVIES AND COLLECTIONS
Last Ten Tax Levy Years
-235-
Business - Type Activities
GeneralSpecialGeneral PercentageDebt
FiscalObligationServiceObligationNotesTotalof PersonalPer
YearBondsAreaBondsPayableVillageIncome (1)Capita (1)
2011$99,115,000 $- $3,860,000 $1,395,273 $104,370,273 4.39% $2,335
2010109,125,000 - 4,750,000 1,534,796 115,409,796 4.96 2,582
2009118,865,000 - 9,629,897 1,667,748 130,162,645 6.75 2,996
2008128,505,000 - 10,889,470 1,794,439 141,188,909 7.32 3,177
2007137,840,000 65,713 12,099,287 1,915,164 151,920,164 7.84 3,402
2006147,725,000 75,696 6,479,304 2,030,203 156,310,203 8.07 3,500
2005119,275,000 85,503 6,699,933 2,139,824 128,200,260 6.65 2,884
2004128,485,155 - 7,579,845 2,244,283 138,309,283 7.17 3,112
200386,980,000 - 7,030,000 2,343,822 96,353,822 5.80 2,302
200290,195,000 - 7,145,000 2,438,674 99,778,674 6.12 2,384
Source: The Village of Glenview's Comprehensive Annual Financial Report.
Governmental Activities
(1) Additional demographic information is available in the schedule of Demographic and Economic Statistics.
Village of Glenview, Illinois
RATIOS OF OUTSTANDING DEBT BY TYPE
Last Ten Fiscal Years
-236-
Less Net Percentage of
General Debt GeneralAssessed TaxableDebt
FiscalObligationService Bonded Debt Value of Per
Year Bonds FundsOutstandingProperty (1)Capita (2)
2011$102,975,000 $- $102,975,000 3.79% $2,304
2010113,875,000 - 113,875,000 3.79 2,548
2009128,494,897 15,676 128,479,221 4.28 2,890
2008139,394,470 1,649,841 137,744,629 4.73 3,099
2007149,939,287 2,870,654 147,068,633 5.46 4,202
2006154,204,304 4,643,867 149,560,437 6.89 4,273
2005125,974,933 2,075,383 123,899,550 7.08 3,540
2004136,065,000 3,242,038 132,822,962 8.15 3,795
200394,010,000 - 94,010,000 5.94 2,729
200297,340,000 1,048,923 96,291,077 6.37 2,751
Source: The Village of Glenview's Comprehensive Annual Financial Report.
(1)Seetheschedule of AssessedValueandActualValueofTaxableProperty,on pages230and231,for
property value data.
Village of Glenview, Illinois
RATIOS OF NET GENERAL BONDED DEBT OUTSTANDING
Last Ten Fiscal Years
(2) See the schedule of Demographics and Economic Statistic s on page 240.
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Percentage ofVillage of
Debt Applicable Glenview
Grossto the Village ofShare
Governmental Unit DebtGlenview (1)of Debt
Direct Bonded Debt
Village of Glenview $102,975,000 100.00%$102,975,000
Overlapping Bonded Debt
Glenview Special Service Areas 453,996 100.00%453,996
Glenview Park District 12,340,000 84.85%10,470,490
Northbrook Park District 11,235,000 0.30%33,705
Cook County, including Forest Preserve District3,484,835,000 1.59%55,408,877
Metropolitan Water Reclamation District 1,804,668,000 1.62%29,235,622
School Districts
Elementary School Districts
Avoca School District No. 37 2,390,804 8.02%191,742
East Maine School District No. 63 16,800,000 4.24%712,320
Glenview School District No. 34 19,220,000 89.45%17,192,290
Golf School District No. 67 5,030,470 9.99%502,544
Northbrook School District No. 30 1,452,465 34.12%495,581
West Northfield School District No. 31 2,960,000 43.09%1,275,464
Wilmette School District No. 39 15,120,000 4.93%745,416
High School Districts
Maine Township District No. 207 11,420,000 1.02%116,484
New Trier Township District No. 203 18,601,854 2.38%442,724
Niles Township District No. 219 162,768,951 0.82%1,334,705
Northfield Township District No. 225 92,449,554 40.97%37,876,582
Community College District
Oakton Community College No. 535 27,245,000 10.49%2,858,001
Total Overlapping Bonded Debt 5,688,991,094 159,346,543
Total Direct and Overlapping Bonded Debt$5,791,966,094 $262,321,543
Source: Cook County Clerk as of 12/31/2011
Villageof Glenview, Illinois
DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT
As of December 31, 2011
(1)Determinedbytheratio of assessedvaluation of propertysubject to taxation in theVillage of Glenview to the
valuation of property subject to taxation in overlapping unit. Based on 2010 real property valuations.
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To date, the Illinois General Assembly has not set limits for home rule municipalities.
"TheGeneralAssemblymaylimitbylawtheamountandrequirereferendumapproval of debt to be
incurredbyhomerulemunicipalities,payablefrom ad valorempropertytaxreceipts,only in excess of the
followingpercentages of theassessedvalue of itstaxableproperty....(2)if itspopulation is morethan
25,000andlessthan50,000 an aggregate ofone percent;...Indebtednesswhich is outstanding on the
effectivedate(July1,1971)of thisconstitution or which is thereafterapprovedbyreferendum...shall not be
included in the foregoing percentage amount."
Village of Glenview, Illinois
LEGAL DEBT MARGIN INFORMATION
As of December 31, 2011
TheVillage of Glenview is ahomerulemunicipality in thestate of Illinois.ArticleVII,Section6(k)of the1970
Illinois Constitution governs computation of the legal debt margin and reads as follows:
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Personal
Income
Unemployment
Year Population of dollars)Rate
2002 41,847$1,661,661$39,7084.5%
2003 41,8471,815,490 43,3844.6
2004 44,4431,928,115 43,3844.6
2005 44,4431,928,115 43,3844.2
2006 44,4431,928,115 43,3842.9
2007 44,4431,928,115 43,3843.1
2008 44,4431,928,115 43,3844.2
2009 44,4431,928,115 43,3846.9
2010 44,6922,331,179 52,1616.8
2011 44,6922,379,670 53,2466.8
Sources:
Population information provided by the U.S. Census Bureau.
Per capital information provided by the American Community Survey
Unemployment data provided by Illinois Department of Employment Security (IDES).
Last Ten Fiscal Years
DEMOGRAPHIC AND ECONOMIC STATISTICS
Village of Glenview, Illinois
Income
(In thousands
Per Capita
Personal
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% of % of
Number of Total Village Number of Total Village
Employer RankEmployeesPopulationRankEmployeesPopulation
Kraft Foods 11,440 3.22 %%
Abt Electronics 21,100 2.46 12,100 5.66
Glenbrook Hospital 31,000 2.24 4600 1.62
ITW/Signode 4725 1.62 21,200 3.24
Aon 5708 1.58
Glenview Comm. School Dist 346693 1.55 6400 1.08
Anixter, Inc.7668 1.49
Scott Foresman (Pearson)8550 1.23 5475 1.28
Glenview Terrace Nursing Home9441 0.99
Glenbrook South High School 10391 0.87 8330 0.89
Guarantee Trust Life Ins 9310 0.84
Zenith Electronics 3900 2.43
Avon Products 7369 0.99
Omni-Circuits, Inc.10280 0.75
17.26 %18.78 %
Source: Illinois Manufacturers Services Directory, Illinois Services Directory and Employer Contact
2011 2002
Village of Glenview, Illinois
PRINCIPAL EMPLOYERS
Current Year and Nine Years Ago
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Function/Program 2002200320042005200620072008200920102011
General government
Management services 9 10 10 12 12 12 13 10 10 11
Finance 13 14 14 15 16 16 - - --
Administrative Services - - - - - - 22 14 16 13
Planning & Economic Dev(1) (2)- - - - - - 32 21 23 5
Planning 2 2 2 2 2 2 - - --
Code Enforcement 16 16 16 16 16 16 - - --
Community Development 13 13 13 14 14 14 - - --
Capital Projects (2)- - - - - - 17 13 11 25
Total general government 53 55 55 59 60 60 83 58 60 54
Public safety
Police
Officers 76 78 78 78 78 78 77 74 73 71
Civilians 20 19 19 18 18 18 19 18 17 16
Fire
Firefighters and officers 83 83 85 85 85 85 84 82 84 80
Civilians 12 13 12 12 11 11 - - 2 2
Joint Dispatch - - - - - - 15 20 20 19
Total public safety 191 193 194 193 192 192 195 193 196 188
Public works
Administration 6 6 6 6 6 6 6 6 4 6
Engineering 8 8 8 8 8 8 - - - -
Street maintenance 44 44 44 45 45 45 22 21 21 20
Water maintenance 20 20 21 21 21 21 29 28 29 21
Fleet maintenance - - - - - - 6 6 5 3
Natural Resources - - - - - - 2 1 1 1
Total public works 78 78 79 80 80 80 64 61 60 51
Total full-time
equivalent employees 322 326 328 332 332 332 342 312 316 293
(1) Previously referred to as Development.
(2) Inspectional Services Division previously included in Development is included in Capital Projects as of 2011.
Data source: Village budget office
Village of Glenview, Illinois
FULL-TIME EQUIVALENT VILLAGE EMPLOYEES BY FUNCTION / PROGRAM
Last Ten Fiscal Years
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Function/Program 20022003200420052006
Public Safety
Police
Physical arrests 935 848 910 1,063 976
Parking violations 4,234 3,536 4,345 2,561 2,695
Traffic violations 6,847 5,916 5,360 6,998 6,266
Fire
Emergency responses
Emergency medical 3,833 4,007 4,035 4,297 4,487
Other responses 2,843 2,733 2,626 2,872 2,734
Fires extinguished 156 188 123 144 93
Fires extinguished (structures) - - - - -
Public works
Pothole repairs (hours)2,777 4,785 4,632 5,201 1,311
Water
Metered water customers 15,015 15,478 15,478 15,853 15,247
Water main breaks 163 148 101 210 99
Water purchased
(In ten-thousands of gallons)320,069 332,138 332,138 362,534 312,218
Average daily consumption 210 217 205 223 192
Building
Permits issued 2,704 2,991 3,100 3,282 2,759
Value of construction
(In thousands of dollars)$N/A$206,573 $178,546 $168,418 $108,005
Source: Various Village departments.
Village of Glenview, Illinois
OPERATING INDICATORS BY FUNCTION/PROGRAM
Last Ten Fiscal Years
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200720082009 2010 2011
1,003 1,677 1,475 1,088 571
2,206 2,962 3,518 2,998 2,243
5,800 4,101 3,024 2,301 2,446
4,707 4,873 4,588 4,653 4,948
3,148 2,885 2,561 2,249 2,359
100 - - 52 28
- 39 11 21 26
1,062 2,425 5,910 4,444 3,453
15,663 15,754 15,769 15,781 15,786
130 93 96 134 114
318,381 306,164 301,349 292,882 285,877
196 186 183 141 133
2,739 2,837 2,376 2,535 2,552
$108,455 $106,000 $133,737 $110,191 $98,541
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Function/Program 2002200320042005200620072008200920102011
Public safety
Police
Police stations 1 1 1 1 1 1 1 1 1 1
Marked patrol units 17 17 17 18 18 18 18 18 18 18
Unmarked patrol units9 9 9 9 9 9 9 12 12 12
Motorcycles - 2 2 2 3 3 3 4 4 4
Fire
Fire stations 3 5 5 5 5 5 5 5 5 5
Ambulances 3 3 3 3 3 4 4 4 4 4
Fire engines 4 4 4 4 4 4 4 6 6 6
Aerial ladder truck1 1 1 1 1 1 1 1 1 1
Public works
Streets and highways
Arterial street miles7 7 7 7 7 7 7 1818 18
Residential street miles 123 123 138 138 126 126 126 158158 158
Streetlights 465 465 1,300 1,700 1,800 1,800 1,800 1,8001,800 1,800
Water
Water main miles 248 255 261 262 262 262 262 262 230 230
Fire hydrants2,300 2,300 2,300 2,668 2,668 2,668 2,668 2,7132,733 2,733
Storage capacity
(In millions of gallons)9,500 15,000 15,000 18,000 18,000 18,000 18,000 16,05016,050 16,050
Wastewater
Sanitary sewer miles 81 81 128 128 128 128 128 128 150 150
Storm sewer miles 74 74 175 175 175 175 165 165 262 262
Parking facilities
Parking spaces1,168 1,168 1,168 1,450 1,450 1,450 1,450 1,4501,450 1,450
Data Source: Various Village departments, data varies due to improved GIS capabilities
Village of Glenview, Illinois
CAPITAL ASSET STATISTICS BY FUNCTION/PROGRAM
Last Ten Fiscal Years
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