HomeMy Public PortalAboutFY 2012 Certified Comprehensive Annual Financial ReportVillage of Glenview,
Illinois
Comprehensive Annual Financial Report
For the Fiscal Year Ended December 31, 2012
Village of Glenview,
Illinois
Comprehensive Annual Financial Report
For the Fiscal Year Ended December 31, 2012
Prepared by:
Administrative Services - Finance Division
i
Village of Glenview, Illinois
Comprehensive Annual Financial Report
For the Year Ended December 31, 2012
Table of Contents
Page
Table of Contents i - v
INTRODUCTORY SECTION
Officers and Officials vi
Certificate of Achievement for Excellence in Financial Reporting vii
Letter of Transmittal viii - xi
Organizational Chart xii
FINANCIAL SECTION
Independent Auditors' Report 1 – 2
Management's Discussion and Analysis 3 - 20
Basic Financial Statements
Government-wide Financial Statements
Statement of Net Position 21 - 22
Statement of Activities 23 - 24
Fund Financial Statements
Balance Sheet – Governmental Funds 25
Reconciliation of the Balance Sheet - Governmental Funds to the
Statement of Net Position 26
Statement of Revenues, Expenditures, and Changes in
Fund Balances – Governmental Funds 27
Reconciliation of the Statement of Revenues, Expenditures, and Changes
in Fund Balances of Governmental Funds to the Statement of Activities 28
Statement of Net Position – Proprietary Funds 29 - 30
Statement of Revenues, Expenses, and Changes in Fund Net Position –
Proprietary Funds 31 - 32
Statement of Cash Flows – Proprietary Funds 33 - 36
Statement of Fiduciary Net Position – Fiduciary Funds 37
Statement of Changes in Plan Net Position – Pension Trust Funds 38
Notes to Financial Statements 39 - 88
Required Supplementary Information (Unaudited)
Schedules of Funding Progress
Illinois Municipal Retirement Fund 89
Police Pension Plan 89
Firefighters' Pension Plan 89
Other Postemployment Benefit Plan 90
(Continued)
ii
Village of Glenview, Illinois
Comprehensive Annual Financial Report
For the Year Ended December 31, 2012
Table of Contents
Page
FINANCIAL SECTION (Continued)
Required Supplementary Information (Unaudited) (Continued)
Schedules of Employer Contributions
Police Pension Plan 91
Firefighters' Pension Plan 91
Schedule of Revenues, Expenditures, and Changes in Fund Balance –
Budget and Actual
General Fund 92
Special Tax Allocation Fund 93
Notes to Required Supplementary Information 94
Supplemental Information
Governmental Funds
Major Funds
Schedule of Detailed Revenues and Other Financing Sources - Budget and Actual
General Fund 95 - 98
Schedule of Detailed Expenditures and Other Financing Uses - Budget and Actual
General Fund 99 - 104
Schedules of Detailed Revenues, Expenditures, and Changes in Fund
Balance (Deficit) - Budget and Actual
Special Tax Allocation Fund 105
Village Permanent Fund 106
Nonmajor Governmental Funds
Combining Balance Sheet 107
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 108
Nonmajor Special Revenue Funds
Combining Balance Sheet 109
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 110
Schedules of Revenues, Expenditures, and Changes in Fund Balance –
Budget and Actual
Motor Fuel Tax Fund 111
Foreign Fire Insurance Fund 112
Police Department Special Account Fund 113
Nonmajor Debt Service Fund
Schedules of Revenues, Expenditures, and Changes in Fund Balance -
Budget and Actual - Corporate Purpose Debt Service Fund 114
(Continued)
iii
Village of Glenview, Illinois
Comprehensive Annual Financial Report
For the Year Ended December 31, 2012
Table of Contents
Page
FINANCIAL SECTION (Continued)
Supplemental Information (Continued)
Nonmajor Governmental Funds (Continued)
Nonmajor Capital Project Funds
Combining Balance Sheet 115
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 116
Schedules of Revenues, Expenditures, and Changes in Fund Balance -
Budget and Actual
Capital Projects Fund 117
Glen Capital Projects Fund 118
Proprietary Funds
Major Enterprise Funds
Schedules of Revenues, Expenses, and Changes in Net Position –
Budget and Actual (Budgetary Basis)
Glenview Water Fund 119 - 120
North Maine Water and Sewer Fund 121 - 122
Glenview Sanitary Sewer Fund 123 - 124
Nonmajor Enterprise Funds
Combining Statement of Net Position 125
Combining Statement of Revenues, Expenses, and Changes in Net Position 126
Combining Statement of Cash Flows 127 - 128
Schedules of Revenues, Expenses, and Changes in Net Position –
Budget and Actual (Budgetary Basis)
Wholesale Water Fund 129
Commuter Parking Fund 130
Internal Service Funds
Combining Statement of Net Position 131 - 132
Combining Statement of Revenues, Expenses, and Changes in Fund Net Position 133 - 134
Combining Statement of Cash Flows 135 - 136
Schedules of Revenues, Expenses, and Changes in Net Position –
Budget and Actual (Budgetary Basis)
Capital Equipment Replacement Fund (CERF) 137
Municipal Equipment Repair Fund 138 - 139
Insurance and Risk Fund 140
Facilities Replacement Fund 141
(Continued)
iv
Village of Glenview, Illinois
Comprehensive Annual Financial Report
For the Year Ended December 31, 2012
Table of Contents
Page
FINANCIAL SECTION (Continued)
Supplemental Information (Continued)
Trust and Agency Funds
Pension Trust Funds
Combining Statement of Fiduciary Net Position 142
Combining Statement of Changes in Fiduciary Net Position 143
Schedule of Changes in Plan Net position - Budget and Actual
Police Pension Fund 144
Firefighters' Pension Fund 145
Agency Funds
Statements of Changes in Assets and Liabilities 146 - 147
Glenview Library - Component Unit
Combining Balance Sheet and Statement of Net Position 148 - 151
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances
and Statement of Activities 152 - 153
Schedule of Revenues, Expenditures, and Changes in Fund Balance
Library General Fund 154 - 157
Library General Obligation Bond Series of 2009A 158
Library Nonmajor Funds
Combining Balance Sheet 159 - 160
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 161 - 162
Schedules of Revenues, Expenditures, and Changes in Fund
Balance (Deficit) - Budget and Actual
Library New Building Fund 163
Library Special Reserve Fund 164
Other Supplemental Information
Long-Term Debt Requirements
Corporate Purpose Note Series 1997 165
General Obligation Bond Series 2004B 166
General Obligation Bond Series 2005 167
General Obligation Bond Series 2006A 168
General Obligation Bond Series 2007A 169
General Obligation Bond Series 2007B 170
General Obligation Bond Series 2009A 171
General Obligation Bond Series 2009D 172
General Obligation Bond Series 2009E 173
General Obligation Refunding Bond Series 2012A 174
General Obligation Refunding Bond Series 2012B 175
General Obligation Refunding Bond Series 2012C 176
Glenview Naval Air Station (GNAS) Redevelopment Area Funds
Combining Balance Sheet 177
Combining Schedule of Revenues, Expenditures, and Changes in
Fund Balances 178
(Continued)
v
Village of Glenview, Illinois
Comprehensive Annual Financial Report
For the Year Ended December 31, 2012
Table of Contents
Page
STATISTICAL SECTION (UNAUDITED)
Index to Statistical Section 179
Financial Trends
Net Position, Last Ten Fiscal Years 180 - 181
Changes in Net Position, Last Ten Fiscal Years 182 - 185
Fund Balances of Governmental Funds, Last Ten Fiscal Years 186 - 187
Changes in Fund Balances of Governmental Funds, Last Ten Fiscal Years 188 - 189
Revenue Capacity
Property Tax Information
Assessed Value and Actual Value of Taxable Property, Last Ten Levy Years 190 - 191
Direct and Overlapping Property Tax Rates, Last Ten Levy Years 192 - 195
Principal Property Tax Payers, Current Year and Nine Years Ago 196
Property Tax Levies and Collections, Last Ten Levy Years 197
Debt Capacity
Ratios of Outstanding Debt by Type, Last Ten Fiscal Years 198
Ratios of Net General Bonded Debt Outstanding, Last Ten Fiscal Years 199
Direct and Overlapping Governmental Activities Debt 200
Legal Debt Margin Information 201
Demographic and Economic Information
Demographic and Economic Statistics, Last Ten Fiscal Years 202
Principal Employers, Current Year and Nine Years Ago 203
Operating Information
Full-time Equivalent Employees by Function/Program, Last Ten Fiscal Years 204
Operating Indicators by Function/Program, Last Ten Fiscal Years 205 - 206
Capital Asset Statistics by Function/Program, Last Ten Fiscal Years 207 - 208
vi
Village of Glenview, Illinois
Officers and Officials
December 31, 2012
LEGISLATIVE
Kerry D. Cummings
Village President
Paul Detlefs, Trustee Michael Jenny, Trustee
Pat Cuisinier, Trustee Debby Karton, Trustee
Philip O’C. White, Trustee Scott Britton,Trustee
Todd Hileman
Village Clerk/Treasurer
ADMINISTRATIVE
Todd Hileman, Village Manager
vii
viii
June 12, 2013
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, 2012 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.
McGladrey LLP, Certified Public Accountants, has issued an unqualified (“clean”) opinion on the Village
of Glenview’s (the “Village”) financial statements for the year ended December 31, 2012. 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.
ix
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. 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 (including the Village of Hainesville) and, this past
year, new agreements with the Village of Morton Grove and the Village of Niles 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 and Library, 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 discretely presented 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. The economy is not expected to fully
recover for several years, however, the Village was pleased to see slow but steady growth in several key
segments of the economy. The Village of Glenview has weathered this recession and slow recovery well
in large part due to the Village Board, management and staff continually assessing its long term strategic
and financial goals including the re-evaluation of 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 the Village Board and managements’ efforts to “right size” the organization and develop a staffing
model that is flexible and able to adapt to changing workload demands. Additional cost savings were
realized through the Municipal Partnering Initiative (MPI) established in 2010 to present opportunities to
collaborate and improve the Village’s economies of scale when going to bid for various
x
projects along with cost-sharing strategies through new intergovernmental agreements with neighboring
communities. The Village Board, management and staff are 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. However, it should be noted that the financial position
of the State of Illinois will continue to be a concern as they continue to explore opportunities to shift costs
to local governments.
A number of revenue sources showed slow but steady growth in 2012 and are getting close to the 2008
levels. For instance, the annual sales tax revenue received in the Village in 2012 of $13,091,218 was
2.3% higher than the sales tax revenue received in 2011, and only $26,872 or .2%, lower than 2008.
Additionally, prior to last year, state shared income tax had not increased since 2008, but increased in
both 2012 by $138,998 or 3.6%, and in 2011 by $20,362, or .58%.
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 2012. 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 $5.2 million or 27% of sales tax receipts in 2012, the Furniture and Electronics sales tax
category, which in 2001 generated approximately 1% of sales tax receipts, in 2012 generated $5.8
million, or 30% 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 usual, in 2012
the Village still experienced a slight growth in commercial and residential activity. During 2012 a total of
2,952 building permits were issued, up 15.7% from 2011. Significantly, a large number of development
projects pursued regulatory approval in 2012, received approvals in early 2013, and are expected to
commence construction in 2013 or early 2014. These include over 650 residential apartment units and
three projects totaling 250,000 square feet of commercial space.
Another indicator of the strength of the Village of Glenview’s local economy is apparent in the median
family income figures from the 2007-2011 American Community Survey (ACS) which reported that the
average income of Glenview residents exceeded the county and state averages. According to ACS,
Glenview’s 2007-2011 median family income was $122,931, compared to $65,842 for Cook County and
$69,658 for the State of Illinois.
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.
xi
Major Initiatives and Accomplishments
Village Board Goals and Initiatives – The Board of Trustees developed and prioritized the 2012
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.
Development Initiatives - Development approvals were secured for the build out of the GlenStar
development at Willow Road and I-294, including a 90,000 square foot Mariano’s grocery store, 17,000
square feet of other retail, 290 rental units to be developed by Lennar, a high-end day care and pre-school
operated by the Gardner School in 16,000 square feet, a 41,000 square foot LA Fitness facility, a future
1.5 acre retail building site and a 2.2 acre future office site. In December of 2012, the Village agreed to
sell the fire station headquarters on Glenview Road to Trammell Crow, as part of a 4 parcel mixed use
development consisting of 138 rental units and 6,500 square feet of retail space. The Glen Gate
development hearings which began in early 2012 were completed in early 2013 for a development by
Regency Centers of a 75,000 square foot Mariano’s grocery store and 31,000 square feet of retail, and 238
rental units to be constructed by Focus Development. A Business Improvement District was approved by
the Village Board to facilitate intersection improvements at Chestnut Avenue and Waukegan Road, and to
support the retailers by providing better access at that very congested location. A ground lease was
approved in December 2012 with Heinen’s Grocery store to construct and operate a 40,000 square foot
grocery store in the downtown. An agreement to construct a combined Chrysler, Jeep, Dodge, Ram
dealership was executed in late 2012 and is expected to be completed in 2013-14 at the Willow and
Patriot intersection. Anixter Corporation, which began construction in September 2012, for a 61,898
square foot addition to its corporate campus is a product of intergovernmental cooperation resulting in a
Cook County Class 7b real estate tax incentive. The American College of Chest Physicians (ACCP)
began construction in 2012 of a new 48,000 square foot corporate headquarters and educational facility on
5 acres.
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, 2011.
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.
xii
A Certificate of Achievement is only valid for a period of one year. The Village of Glenview has
received a Certificate of Achievement for thirty consecutive years (fiscal years ended 1982 through
2011). 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 staff 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,
~y~
Ronald J. Amen, CPA
Chief Financial Officer
Lauterbach and Amen, lLP
FINANCIAL SECTION
INDEPENDENT AUDITOR’S REPORT
1
Citizens of Glenview
Public Works
Independent Auditor’s Report
The Honorable Village President and
Members of the Board of Trustees
Village of Glenview, Illinois
Report on the Financial Statements
We have audited the accompanying financial statements of the governmental activities, the business-type
activities, the discretely presented component unit, each major fund, and the aggregate remaining fund
information of the Village of Glenview, Illinois, as of and for the year ended December 31, 2012, and the
related notes to the financial statements, which collectively comprise the Village’s basic financial
statements as listed in the table of contents.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in
accordance with accounting principles generally accepted in the United States of America; this includes
the design, implementation, and maintenance of internal control relevant to the preparation and fair
presentation of financial statements that are free from material misstatement, whether due to fraud or
error.
Auditor’s Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We conducted
our audit in accordance with auditing standards generally accepted in the United States of America.
Those standards require that we plan and perform the audit to obtain reasonable assurance about
whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in
the financial statements. The procedures selected depend on the auditor’s judgment, including the
assessment of the risks of material misstatement of the financial statements, whether due to fraud or
error. In making those risk assessments, the auditor considers internal control relevant to the entity’s
preparation and fair presentation of the financial statements in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of
the entity’s internal control. Accordingly, we express no such opinion. An audit also includes evaluating
the appropriateness of accounting policies used and the reasonableness of significant accounting
estimates made by management, as well as evaluating the overall presentation of the financial
statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for
our audit opinions.
Opinions
In our opinion, the financial statements referred to above present fairly, in all material respects, the
respective financial position of the governmental activities, the business-type activities, the discretely
presented component unit, each major fund, and the aggregate remaining fund information of the Village
of Glenview, Illinois, as of December 31, 2012, and the respective changes in financial position, and,
where applicable, cash flows thereof for the year then ended in accordance with accounting principles
generally accepted in the United States of America.
2
Other Matters
Required Supplementary Information:
Accounting principles generally accepted in the United States of America require that the management’s
discussion and analysis (pages 3 - 20), budgetary comparison information (pages 92 - 93), and pension
and OPEB information (pages 89 - 91) be presented to supplement the basic financial statements. Such
information, although not a part of the basic financial statements, is required by the Governmental
Accounting Standards Board who considers it to be an essential part of financial reporting for placing the
basic financial statements in an appropriate operational, economic, or historical context. We have applied
certain limited procedures to the required supplementary information in accordance with auditing
standards generally accepted in the United States of America, which consisted of inquiries of
management about the methods of preparing the information and comparing the information for
consistency with management’s responses to our inquiries, the basic financial statements, and other
knowledge we obtained during our audit of the basic financial statements. We do not express an opinion
or provide any assurance on the information because the limited procedures do not provide us with
sufficient evidence to express an opinion or provide any assurance.
Other Information:
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the Village’s basic financial statements. The Supplemental Information (pages 95 – 164) and
Other Supplemental Information (pages 165 - 178), and the Introductory and Statistical sections are
presented for purposes of additional analysis and are not a required part of the basic financial statements.
The Supplemental Information and Other Supplemental Information is the responsibility of management
and was derived from and relates directly to the underlying accounting and other records used to prepare
the basic financial statements. Such information has been subjected to the auditing procedures applied in
the audit of the basic financial statements and certain additional procedures, including comparing and
reconciling such information directly to the underlying accounting and other records used to prepare the
basic financial statements or to the basic financial statements themselves, and other additional
procedures in accordance with auditing standards generally accepted in the United States of America. In
our opinion, the Supplemental Information and Other Supplemental Information is fairly stated, in all
material respects, in relation to the basic financial statements as a whole.
The Introductory Section and Statistical Section have not been subjected to the auditing procedures
applied in the audit of the basic financial statements, and accordingly, we do not express an opinion or
provide any assurance on them.
Schaumburg, Illinois
June 12, 2013
3
Village of Glenview, Illinois
Management’s Discussion and Analysis
December 31, 2012
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, 2012. Please read it in conjunction
with the transmittal letter, which begins on page viii and the Village’s basic financial statements, which
begin on page 21.
FINANCIAL HIGHLIGHTS
The Village’s net position of governmental activities and business-type activities increased by
$3,330,488, or 1.7% and $2,866,765, or 4.7%, respectively, resulting in total ending net position
for the year of $261,994,202. The net position increased primarily as a result of receiving 16.7%
more of a major governmental revenue source than budgeted coupled with overall governmental
expenses being lower than anticipated.
During the year, government-wide revenues before transfers for the governmental and business-
type activities totaled $110,667,796, while expenses totaled $104,470,543, resulting in the
increase in net position of $6,197,253.
The Village’s net position totaled $261,994,202 on December 31, 2012, which includes a
$165,820,320 net investment in capital assets, $45,978,154 subject to external restrictions, and
$50,195,728 unrestricted net position that may be used to meet the ongoing obligations to
citizens and creditors.
The General Fund reported a surplus for the year of $1,542,060. The operating surplus
encompasses higher than anticipated increases in income tax, tipping fees and other fines
combined with savings realized through the continued cost containment efforts by the Village.
This surplus exists after budgeted transfers to the Debt Service Fund of $2,030,409 and to the
Capital Projects Fund of $2,806,909 were made during the year.
USING THIS ANNUAL REPORT
This annual report consists of a series of financial statements. The Statement of Net Position 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.
4
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2012
USING THIS ANNUAL REPORT – Continued
Government-Wide Financial Statements - Continued
The Statement of Net Position reports information on all of the Village’s assets and liabilities, with the
difference between the two reported as net position. Over time, increases or decreases in net position
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 position changed
during the most recent fiscal year. All changes in net position 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.
5
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2012
USING THIS ANNUAL REPORT – Continued
Governmental Funds - Continued
The Village maintains nine 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 and the Village
Permanent Fund, all of which are considered to be major funds. Data from the other six 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.
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 25-28 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 29-36 of this report.
6
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2012
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 used for fiduciary
funds is much like that used for proprietary funds. The basic fiduciary fund financial statements can be
found on pages 37-38 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 39-88 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 89-94 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
95-147 of this report. Additionally, the combining and individual fund statements for the component unit
can be found on pages 148-164.
GOVERNMENT-WIDE FINANCIAL ANALYSIS
Net position 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 $261,994,202 at
December 31, 2012, compared to $255,796,949 at December 31, 2011.
7
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2012
GOVERNMENT-WIDE FINANCIAL ANALYSIS – Continued
201220112012201120122011
Current and other assets128,699,766 $ 127,606,396 $ 10,174,512 $ 10,633,534 $ 138,874,278 $ 138,239,930 $
Capital assets200,367,966 201,568,315 60,357,088 60,614,248 260,725,054 262,182,563
Total assets 329,067,732 329,174,711 70,531,600 71,247,782 399,599,332 400,422,493
Long-term liabilities62,245,045 101,750,302 3,197,809 5,097,736 65,442,854 106,848,038
Other liabilities68,635,466 32,567,676 3,526,810 5,209,830 72,162,276 37,777,506
Total liabilities 130,880,511 134,317,978 6,724,619 10,307,566 137,605,130 144,625,544
Net Position
Net investment in
capital assets109,488,722 102,217,913 56,331,598 55,566,298 165,820,320 157,784,211
Restricted45,978,154 52,257,800 - - 45,978,154 52,257,800
Unrestricted 42,720,345 40,381,020 7,475,383 5,373,918 50,195,728 45,754,938
Total net position 198,187,221 $ 194,856,733 $ 63,806,981 $ 60,940,216 $ 261,994,202 $ 255,796,949 $
ActivitiesActivitiesGovernment
Table 1
Statement of Net Position
As of December 31, 2012 and 2011
Governmental Business-TypeTotal Primary
A large portion of the Village’s net position, $165,820,320 or 63.3%, 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, $45,978,154 or 17.5%, of the Village’s net position 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
19.2%, or $50,195,728, represents unrestricted net position 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 position, 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.
8
Village of Glenview, Illinois
Management’s Discussion and Analysis
December 31, 2012
GOVERNMENT-WIDE FINANCIAL ANALYSIS – Continued
Normal Impacts
There are six basic (normal) transactions that will affect the comparability of the Statement of Net Position
summary presentation:
1) Net Results of Activities – which will impact (increase/decrease) current assets and unrestricted
net position.
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 position 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 position 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.
9
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2012
Revenue 201220112012201120122011
Program revenues
Charges for services10,328,337 $ 11,065,323 $ 24,694,550 $ 22,868,295 $ 35,022,887 $ 33,933,618 $
Grants and contributions
Operating 1,960,093 1,832,805 - 27,854 1,960,093 1,860,659
Capital 746,987 2,439,618 - - 746,987 2,439,618
General Revenue
Taxes
Property 37,275,705 40,146,639 - - 37,275,705 40,146,639
Home rule 6,709,580 6,354,394 - - 6,709,580 6,354,394
Telecommunication 2,771,970 2,763,469 - - 2,771,970 2,763,469
Utility 3,177,929 3,300,850 - - 3,177,929 3,300,850
Other 836,019 838,358 - - 836,019 838,358
Intergovernmental
Sales 13,091,218 12,792,723 - - 13,091,218 12,792,723
State income 3,962,313 3,823,315 - - 3,962,313 3,823,315
Local use 702,009 655,076 - - 702,009 655,076
Road and bridge 379,563 391,336 - - 379,563 391,336
Property replacement 214,116 214,898 - - 214,116 214,898
Other 1,318,686 1,241,190 - - 1,318,686 1,241,190
Investment income 860,108 397,478 33,790 - 893,898 397,478
Other general revenues 1,562,876 464,084 41,947 34,286 1,604,823 498,370
Total revenues 85,897,509 88,721,556 24,770,287 22,930,435 110,667,796 111,651,991
Expenses
General government 40,172,192 33,989,230 - - 40,172,192 33,989,230
Public works 6,670,428 8,581,360 - - 6,670,428 8,581,360
Public safety 27,145,548 25,769,097 - - 27,145,548 25,769,097
Development 6,421,304 10,029,890 - - 6,421,304 10,029,890
Interest on long-term debt 2,984,565 3,353,913 - - 2,984,565 3,353,913
Water services - - 10,339,739 8,795,466 10,339,739 8,795,466
North Maine water and
sewer - - 7,399,749 6,197,752 7,399,749 6,197,752
Sanitary sewerage - - 1,729,509 1,801,454 1,729,509 1,801,454
Wholesale water - - 1,157,835 1,119,994 1,157,835 1,119,994
Commuter parking - - 449,674 386,244 449,674 386,244
Total expenses 83,394,037 81,723,490 21,076,506 18,300,910 104,470,543 100,024,400
Change in net position
before transfers 2,503,472 6,998,066 3,693,781 4,629,525 6,197,253 11,627,591
Transfers827,016 (2,755,391) (827,016) 2,755,391 - -
Change in net position 3,330,488 4,242,675 2,866,765 7,384,916 6,197,253 11,627,591
Net position - beginning 194,856,733 190,614,058 60,940,216 53,555,300 255,796,949 244,169,358
Net position - ending 198,187,221 $ 194,856,733 $ 63,806,981 $ 60,940,216 $ 261,994,202 $ 255,796,949 $
Table 2
Total Primary
Government
Changes in Net Position
For the Fiscal Years Ended December 31, 2012 and 2011
Governmental
Activities
Business-Type
Activities
10
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2012
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 60.9% of the Village’s General Fund expenditures and approximately 16.3% of
enterprise operating costs at December 31, 2012.
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.
11
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2012
GOVERNMENT-WIDE FINANCIAL ANALYSIS – Continued
Net position of the Village’s governmental activities increased by 1.7%, or $3,330,488 ($198,187,221 in
2012 compared to $194,856,733, in 2011). In 2011, the net position increased for governmental activities
by $4,242,675. Unrestricted net position, the part of net position that can be used to finance day-to-day
operations without constraints, totaled $42,720,345 at December 31, 2012, an increase of $2,339,325
from 2011. Net position of business-type activities increased by 4.7%, or $2,866,765 ($63,806,981 in
2012 compared to $60,940,216 in 2011). In 2011, the net position increased for business-type activities
by $7,384,916. Unrestricted net position totaled $7,475,383 at December 31, 2012, an increase of
$2,101,465.
Governmental Activities
Revenues:
Revenues for governmental activities totaled $85,897,509 at December 31, 2012 and $88,721,556 at
December 31, 2011, a decrease of $2,824,047. Some key changes during the year for the governmental
activity revenues are described below:
Charges for Services revenues decreased by $736,986 or 6.7% due in part to a combination of
an increase in dispatch service revenue of $702,767, an increase in licenses and permits of
$64,077, and a decrease in revenues received from the Glenbrook Fire Protection District of
$110,934 and a decrease in lease fees of $215,587.
Property Taxes decreased 7.2%, or $2,870,934, primarily as a result of the Special Tax Allocation
Fund receiving $2,081,652 less in incremental property tax distributions from the County in 2012
than in 2011. This difference is due to the more timely distribution in 2012 coupled with 2011
including a portion of previous year’s tax distribution.
Home Rule Sales Tax increased from $6,354,394 at December 31, 2011 to $6,709,580 at
December 31, 2012, reflecting a 5.6% increase due to the general increase in the retail sales
during the year.
Intergovernmental taxes increased $549,367 or 2.9%, which included an increase in Sales Tax of
$298,495, an increase in Income Tax of $138,998 and an increase in Other Taxes of $111,874.
The increase in Sales Tax is due to the general increase in retail sales during the year while the
Income Tax increase represents the current positive trend in income tax increase.
12
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2012
GOVERNMENT-WIDE FINANCIAL ANALYSIS – Continued
Governmental Activities – 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.
Charges for
Services
12%Operating
Grants/Contrib.
3%
Capital
Grants/Contrib.
0%
Property Taxes
43%
Sales Taxes
23%
Income Taxes
5%
Telecomm Taxes
3%
Utility Taxes
4%
Other General
Revenues
7%
Revenues by Source -Governmental Activities
December 31, 2012
13
Village of Glenview, Illinois
Management’s Discussion and Analysis
December 31, 2012
GOVERNMENT-WIDE FINANCIAL ANALYSIS – Continued
Governmental Activities – Continued
For the year ended December 31, 2012, governmental activities expenses totaled $83,394,037, an
increase of $1,670,547, or 2.0% over the 2011 expenses of $81,723,490. A portion of this increase was
an increase of $1,831,678 for Make-Whole payments to the core jurisdictions within the boundaries of
The Glen, a Tax Increment Financing (TIF) District. Additionally, during 2012 the Village incurred a one-
time expense of $4,300,000 to a car dealership for an economic incentive fee coupled with additional
funds to facilitate the construction of a new dealership. These increases were offset by a reduction of
$983,557 in development expenses as the Village contributed to the Library debt service obligation in
2011 and there was no contribution in 2012, $369,348 reduction in interest expense on outstanding bond
issuances, an approximate $400,000 reduction in self insured claim expenses and approximately a
$475,000 reduction in snow and ice removal costs (includes salt) due to the mild winter climate the last
quarter of 2012.
Business-Type activities
Business-Type activities posted total revenues of $24,770,287, while the cost of all business-type
activities totaled $21,076,506. This results in a surplus of $3,693,781 prior to net transfers out of
$827,016. In 2011, revenues of $22,930,435 exceeded expenses of $18,300,910, resulting in a surplus of
$4,629,525 prior to net transfers in of $2,755,391.
Revenues
For the fiscal year ended December 31, 2012, revenues for the business-type activities totaled
$24,770,287, an increase of $1,839,852, or 8.0%, due primarily to increased charges for services
($24,694,550 in 2012 compared to $22,868,295 in 2011).
Expenses
Expenses for the year ended December 31, 2012 totaled $21,076,506, an increase of $2,775,596, or
15.2%, primarily as a result of a combined increase of $1,919,132 in operational expenses in the
Enterprise Funds of Glenview Water Fund, North Maine Water and Sewer Fund, Glenview Sanitary
Sewer Fund and Commuter Parking Fund.
14
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2012
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 $71,802,748, which is
$4,673,078, or 6.1%, lower than last year’s total of $76,475,826. Of the $71,802,748 total, $25,564,806,
or approximately 35.6%, of the fund balance constitutes unassigned fund balance.
General Fund
The General Fund reported a surplus for the year of $1,542,060, an increase of 6.4%. The a result of
operations was primarily the effect of receiving higher than anticipated property and income tax revenues,
refuse and recycling charges, and other fines combined with reduced expenditures as a result of cost
containment efforts and some expenditures that were not incurred or delayed. Specifically, total
expenditures were $774,125 lower than budget.
The General Fund is the chief operating fund of the Village. At December 31, 2012, unassigned fund
balance in the General Fund was $25,564,806, which represents 99.2% 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 46.9% 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 TIF
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, 2012 the Special Tax Allocation Fund reported expenditures in excess of
revenues by $6,283,705, which was anticipated due to the timing of the expenditures and is on target with
the financial projection of the Fund
15
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2012
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 and economic
development initiatives as well as short-term liquidity for the Village’s TIF District projects at The Glen. For
the year ended December 31, 2012 the Village Permanent Fund reported expenditures in excess of
revenues by $65,213, primarily the result of a budgeted transfer to the Capital Projects Fund of $269,204
for capital projects including storm water capital projects and a transfer to the Glenview Sanitary Sewer
Fund for $74,555.
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 $1,021,709, the previous fiscal
year also reported a surplus of $1,874,179. 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 $11,101,792 were $1,588,332 or 16.7%, higher than last year while operating expenses were
$1,557,025, or 20.9%, higher than last year. Unrestricted net position in the Glenview Water Fund totaled
$3,594,596 at December 31, 2012.
16
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2012
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 $725,971 and also
reported a surplus in the prior year of $1,929,840. The majority of the current year surplus is due to lower
than anticipated operating expenses. Operating revenues of $8,229,828 were $109,793 higher than last
year and operating expenses of $7,206,929 were $1,220,095 higher than last year. Total net position at
December 31, 2012 was $4,836,420.
The surplus in the current year in the Glenview Sanitary Sewer Fund was $895,776, resulting in ending
net position of $17,059,096. In the prior year the Glenview Sanitary Sewer Fund also reported a surplus
of $2,074,968. The current year surplus was due in large part to lower than anticipated operating
expenses.
GENERAL FUND BUDGETARY HIGHLIGHTS
During 2012 the Village Board approved four budget amendments. The first amendment was to increase
the Corporate Fund Transfer to Capital Projects Fund in the amount of $350,000 to provide for additional
street resurfacing. The second amendment was approved by the Board for $179,000 to undertake
additional concrete services. Specifically, $75,000 was used for additional sidewalk replacement and
$104,000 for additional concrete minor area resurfacing work. The third and fourth amendments
increased Corporate Fund 2012 expenditures by $669,446 due to the Board approving a five year
contract with the Village of Niles and Village of Morton Grove for public safety dispatch services. The
Village of Niles provided offsetting revenues of $377,815 and the Village of Morton Grove provided
offsetting revenues of $291,631, which resulted in $0 impact to the Village of Glenview Corporate Fund
total budget.
The General Fund actual revenues (including transfers) for the year totaled $56,046,340 compared to
budgeted amounts of $54,715,342, an overage of $1,330,998. The excess of actual revenues over
budgeted revenues is due to an increase in several revenue sources. The largest contributor to this
overage was in the income taxes collected being $570,000 higher than budget. Income tax is distributed
by the state and the original income tax projection for the year was lower than the increasing trend
realized throughout 2012. Additionally, property tax revenue was $138,500 higher than budget as tax
collections were slightly higher than anticipated. Also higher than budget by $161,000 was the tipping
fees received during the year as the budgeted amount was too low. The budget amount for 2013 has
been established $170,000 higher than in 2012. Lastly, fines and forfeitures were $101,000 higher than
budget particularly within other fines which capture the court ordered property related fines. Local use
tax was $102,000 over budget due to an increase in the efforts by the state to collect use taxes.
17
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2012
FINANCIAL ANALYSIS OF THE GOVERNMENT’S FUNDS – Continued
GENERAL FUND BUDGETARY HIGHLIGHTS - Continued
The General Fund actual expenditures (including transfers) for the year of $54,504,280 were $755,234
lower than budgeted amounts of $55,259,514. Personnel costs were higher than budget by only $41,182
which is only .1% of budget. Contractual expenditures were $507,448 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 and vehicle maintenance were due to the very mild weather
experienced in November and December 2012 while recycling costs were lower than anticipated which
was consistent with other communities in northern Cook County. The commodities expenditures were
$416,090 lower than budget partially due to the very mild November and December resulting in lower
than anticipated natural gas usage in facilities. Another contributing factor was lower electricity
expenditures incurred as electrical costs and usage were lower than budgeted. Other charges were
$214,169 higher than budget due primarily to the public safety pension expenditure being close to
$110,000 over the budget amount.
OriginalFinal
BudgetBudgetActual
Revenues
Taxes24,276,584 $ 24,276,584 $ 24,487,544 $
Intergovernmental 21,516,245 21,516,245 22,211,809
Other 7,544,037 8,213,483 8,637,957
Total revenues 53,336,866 54,006,312 55,337,310
Expenditures (49,592,650) (50,192,710) (49,418,585)
Transfers in 709,030 709,030 709,030
Transfers out (4,468,426) (5,066,804) (5,085,695)
Total expenditures and
net transfers (53,352,046) (54,550,484) (53,795,250)
Net change in fund balance (15,180) $ (544,172) $ 1,542,060 $
General Fund Budgetary Highlights
Table 3
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, 2012 was $260,725,054 (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.
18
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2012
CAPITAL ASSETS AND DEBT ADMINISTRATION - Continued
Capital Assets - Continued
201220112012201120122011
Land6,935,698 $ 6,935,698 $ 802,851 $ 802,851 $ 7,738,549 $ 7,738,549 $
Land right of way 55,238,798 55,145,791 - - 55,238,798 55,145,791
Buildings and improvements 58,313,043 58,954,028 1,864,023 1,935,068 60,177,066 60,889,096
Machinery, equipment and
vehicles 4,466,759 3,369,412 541,300 641,386 5,008,059 4,010,798
Infrastructure 75,413,668 77,163,386 - - 75,413,668 77,163,386
Water system - - 39,298,083 39,682,255 39,298,083 39,682,255
Sanitary sewer system - - 17,850,831 17,552,688 17,850,831 17,552,688
Total 200,367,966 $ 201,568,315 $ 60,357,088 $ 60,614,248 $ 260,725,054 $ 262,182,563 $
ActivitiesActivitiesGovernment
Table 4
Capital Assets at Year End
Net of Depreciation
Governmental Business-TypeTotal Primary
This year’s major additions included:
Additions
Building and improvements1,011,090 $
Infrastructure, including roadways, etc.1,400,675
Machinery, equipment and vehicles1,953,855
Sanitary sewer system751,260
Water system 857,979
Total 5,974,859 $
Additional information on the Village’s capital assets can be found in Note 5 on pages 55-58 of this report.
19
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2012
CAPITAL ASSETS AND DEBT ADMINISTRATION - Continued
Debt Administration
At year-end, the Village had total outstanding debt of $93,613,854 as compared to $104,370,273 the
previous year, a decrease of $10,756,419, or 10.3% which included advance refundings of Series 2004A,
2004B and 2005 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:
201220112012201120122011
General obligation bonds89,415,000 $ 99,115,000 $ 2,950,000 $ 3,860,000 $ 92,365,000 $ 102,975,000 $
Corporate purpose notes- - 1,248,854 1,395,273 1,248,854 1,395,273
Total assets 89,415,000 $ 99,115,000 $ 4,198,854 $ 5,255,273 $ 93,613,854 $ 104,370,273 $
ActivitiesActivitiesGovernment
Governmental Business-TypeTotal Primary
The Village maintains an Aaa rating from Moody’s for general obligation debt. This rating has not
changed in the past eight 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 7 on pages 61-68 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 2013
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 such as the unemployment rates for the Village dropping slightly from 6.8% in 2011
to 6.2% in 2012, interest rates have remained very low and show no immediate signs of increasing. Also,
as stated earlier the Village revenues have shown some signs of stabilizing, but are still slightly lower
than 2008 levels. All of these indicators were taken into account when adopting the budget for 2013. At
the time of preparing the budget, it was projected that the Village would continue to experience little or no
growth in revenues. The goals remained to minimize the financial burden on Glenview taxpayers, identify
cost cutting strategies and opportunities, responsibly utilize Village reserves when necessary, and
proactively structure the Village in a way that will maximize the level of service than can be provided with
a stagnant level of resources. Plans for beyond 2013 are also continually being analyzed to ensure the
Village’s long term economic sustainability.
20
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2012
REQUEST 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
21
Village of Glenview, Illinois
Statement of Net Position
December 31, 2012
Component
Primary Government Unit
GovernmentalBusiness-typeGlenview
ActivitiesActivitiesTotalLibrary
Assets
Cash and cash equivalents20,590,329 $ 4,993,516 $ 25,583,845 $ 1,160,017 $
Investments47,927,911 4,606,975 52,534,886 3,216,948
Receivables, net of allowances
Taxes18,478,299 - 18,478,299 7,429,517
Accounts465,919 3,727,191 4,193,110 -
Other 705,294 - 705,294 -
Prepaid expenses1,161,354 - 1,161,354 -
Inventory519,397 55,004 574,401 -
Land held for resale30,391,262 - 30,391,262 -
Internal balances - advances3,211,647 (3,211,647) - -
Due from other governments92,513 3,473 95,986 -
Total current assets123,543,925 10,174,512 133,718,437 11,806,482
Noncurent assets
Deferred charges171,772 - 171,772 -
Notes receivable1,958,667 - 1,958,667 -
Net pension asset3,025,402 - 3,025,402 -
Capital assets
Not being depreciated62,174,496 802,851 62,977,347 5,426,987
Net of accumulated
depreciation138,193,470 59,554,237 197,747,707 26,955,799
Total noncurrent assets205,523,807 60,357,088 265,880,895 32,382,786
Total assets329,067,732 70,531,600 399,599,332 44,189,268
(Continued)
See Notes to Financial Statements.
22
Village of Glenview, Illinois
Statement of Net Position (Continued)
December 31, 2012
Component
Primary Government Unit
GovernmentalBusiness-typeGlenview
ActivitiesActivitiesTotalLibrary
Liabilities
Accounts payable 18,269,637 $ 2,556,456 $ 20,826,093 $ 357,900 $
Accrued payroll621,394 67,319 688,713 97,353
Accrued interest payable225,057 29,944 255,001 73,236
Claims payable1,802,990 - 1,802,990 -
Other payables5,464,877 443 5,465,320 -
Unearned revenues 10,975,566 - 10,975,566 7,392,863
Due to pension trusts23,114 - 23,114 -
Current portion of long-term
liabilities31,252,831 872,648 32,125,479 1,125,829
Total current liabilities68,635,466 3,526,810 72,162,276 9,047,181
Noncurrent liabilities
Long-term liabilities -
due in more than one year62,245,045 3,197,809 65,442,854 22,928,318
Total liabilities130,880,511 6,724,619 137,605,130 31,975,499
Net Position
Net investment in capital assets109,488,722 56,331,598 165,820,320 8,607,786
Restricted
Street improvements1,084,042 - 1,084,042 -
Debt service139,678 - 139,678 -
Public safety341,136 - 341,136 -
Economic development3,046,893 - 3,046,893 -
Capital projects41,366,405 - 41,366,405 -
Culture and recreation- - - 1,018,829
Unrestricted42,720,345 7,475,383 50,195,728 2,587,154
Total net position198,187,221 $ 63,806,981 $ 261,994,202 $ 12,213,769 $
See Notes to Financial Statements.
23
Village of Glenview, Illinois
Statement of Activities
For the Year Ended December 31, 2012
Program Revenues
OperatingCapital
Charges forGrants and Grants and
ExpensesServicesContributionsContributions
Functions/Program
Primary government
Governmental activities
General government40,172,192 $ 3,564,720 $ 29,750 $ -$
Public works6,670,428 945,812 1,704,177 93,007
Public safety27,145,548 4,967,056 82,984 -
Development6,421,304 850,749 143,182 653,980
Interest2,984,565 - - -
Total governmental activities83,394,037 10,328,337 1,960,093 746,987
Business-type activities
Water services10,339,739 11,351,729 - -
North Maine water and sewer7,399,749 8,229,828 - -
Sanitary sewerage1,729,509 2,523,022 - -
Wholesale water1,157,835 2,063,759 - -
Commuter parking449,674 526,212 - -
Total business-type activities21,076,506 24,694,550 - -
Total primary government104,470,543 $ 35,022,887 $ 1,960,093 $ 746,987 $
Component Unit
Public library9,105,470 $ 249,741 $ 894,964 $ -$
General revenues and transfers
GTaxes
Property
Home rule sales
Telecommunication
Utility
Other
Intergovernmental revenues - unrestricted
Taxes
Sales
Income
Local use
Other taxes
Investment income
Miscellaneous
Transfers - internal activity
Total general revenues and transfers
Change in net position
Net position – beginning of year
Net position – end of year
See Notes to Financial Statements.
24
Net (Expense) Revenue and Changes in Net Position
Primary GovernmentComponent Unit
GovernmentalBusiness-typeGlenview
ActivitiesActivitiesTotalLibrary
(36,577,722) $ -$ (36,577,722) $ -$
(3,927,432) - (3,927,432) -
(22,095,508) - (22,095,508) -
(4,773,393) - (4,773,393) -
(2,984,565) - (2,984,565) -
(70,358,620) - (70,358,620) -
- 1,011,990 1,011,990 -
- 830,079 830,079 -
- 793,513 793,513 -
- 905,924 905,924 -
- 76,538 76,538 -
- 3,618,044 3,618,044 -
(70,358,620) 3,618,044 (66,740,576)
(7,960,765) $
37,275,705 - 37,275,705 7,317,670
6,709,580 - 6,709,580 -
2,771,970 - 2,771,970 -
3,177,929 - 3,177,929 -
836,019 - 836,019 -
13,091,218 - 13,091,218 -
3,962,313 - 3,962,313 -
702,009 - 702,009 -
1,912,365 - 1,912,365 -
860,108 33,790 893,898 31,601
1,562,876 41,947 1,604,823 -
827,016 (827,016) - -
73,689,108 (751,279) 72,937,829 7,349,271
3,330,488 2,866,765 6,197,253 (611,494)
194,856,733 60,940,216 255,796,949 12,825,263
198,187,221 $ 63,806,981 $ 261,994,202 $ 12,213,769 $
25
Village of Glenview, Illinois
Governmental Funds
Balance Sheet
December 31, 2012
Special TaxVillageNonmajorTotal
GeneralAllocationPermanentGovernmental Governmental
Assets FundFundFundFundsFunds
Cash and cash equivalents3,207,103 $ 9,412,185 $ 1,826,861 $ 3,447,495 $ 17,893,644 $
Investments16,812,053 2,758,050 3,772,834 9,939,403 33,282,340
Receivables, net of allowances
Taxes18,478,299 - - - 18,478,299
Accounts299,733 - - 77,377 377,110
Other296,480 620 788 319,767 617,655
Prepaid items15,000 64,508 - - 79,508
Inventory180,280 - - - 180,280
Due from other funds- - - 9,675 9,675
Due from other governments- - - 92,513 92,513
Land held for resale- 23,891,262 6,500,000 - 30,391,262
Notes receivable85,000 1,873,667 - - 1,958,667
Advance to other funds- - 18,437,001 - 18,437,001
Total assets39,373,948 $ 38,000,292 $ 30,537,484 $ 13,886,230 $ 121,797,954 $
Liabilities and Fund Balances
Liabilities
Accounts payable1,668,985 $ 15,362,250 $ -$ 844,205 $ 17,875,440 $
Accrued payroll601,799 7,950 - - 609,749
Other payables524,322 4,300,000 - 483,091 5,307,413
Due to other funds9,675 - - - 9,675
Due to pension trusts23,114 - - - 23,114
Deferred revenue10,785,967 3,750 - 165,157 10,954,874
Advances from other funds- 15,214,941 - - 15,214,941
Total liabilities13,613,862 34,888,891 - 1,492,453 49,995,206
Fund balances
Nonspendable195,280 64,508 - - 259,788
Restricted- 3,046,893 30,537,484 12,393,777 45,978,154
Unassigned25,564,806 - - - 25,564,806
Total fund balances25,760,086 3,111,401 30,537,484 12,393,777 71,802,748
Total liabilities and
fund balances39,373,948 $ 38,000,292 $ 30,537,484 $ 13,886,230 $ 121,797,954 $
See Notes to Financial Statements.
26
Village of Glenview, Illinois
Reconciliation of the Governmental Funds Balance Sheet
to the Statement of Net Position
December 31, 2012
Total fund balances – governmental funds71,802,748 $
Amounts reported for governmental activities in the Statement of Net Position are
different because:
Capital assets used in governmental activities are not financial resources and
therefore are not reported in the funds. 200,367,966
Unamortized bond issuance costs are not considered to represent a financial
resource and, therefore, are not reported in the funds.171,772
An internal service fund is used by the Village to charge the costs of vehicle
and equipment management and insurance to individual funds. The assets
and liabilities of the internal service funds are included in governmental
activities in the Statement of Net Position. Internal service fund net
assets are:16,542,266
Some liabilities reported in the Statement of Net Position do not require the use of
current financial resources and, therefore, are not reported as liabilities in
governmental funds. These liabilities consist of:
Compensated absences payable(1,464,154)
Net other postemployment benefit obligation payable(1,154,478)
Net pension asset3,025,402
General obligation bond payable, net of unamortized items(90,879,244)
Accrued interest payable(225,057)
Total long-term liabilities not reported in governmental funds(90,697,531)
Net position of governmental activities198,187,221 $
See Notes to Financial Statements.
27
Village of Glenview, Illinois
Governmental Funds
Statement of Revenues, Expenditures, and Changes in Fund Balances
For the Year Ended December 31, 2012
Special TaxVillageNonmajorTotal
GeneralAllocationPermanentGovernmental Governmental
FundFundFundFundsFunds
Taxes
Property10,992,046 $ 26,283,659 $ -$ -$ 37,275,705 $
Other13,495,498 - - - 13,495,498
Licenses and permits1,923,238 - - - 1,923,238
Charges for services6,346,445 17,180 156,000 - 6,519,625
Fines and forfeitures224,198 - - - 224,198
Intergovernmental22,211,809 143,182 - 2,441,141 24,796,132
Investment income 115,402 133,801 122,546 51,002 422,751
Other revenues28,674 - - 681,324 709,998
Total revenues55,337,310 26,577,822 278,546 3,173,467 85,367,145
Current
General government15,147,824 23,263,828 - - 38,411,652
Public works7,036,995 - - - 7,036,995
Public safety26,266,737 - - 102,936 26,369,673
Development967,029 - - 294,299 1,261,328
Capital outlay- - - 6,060,977 6,060,977
Debt service
Bond issuance costs- 92,160 - 46,884 139,044
Principal- 7,045,000 - 1,163,235 8,208,235
Interest and fiscal charges- 2,460,539 - 818,925 3,279,464
Total expenditures49,418,585 32,861,527 - 8,487,256 90,767,368
Excess (deficiency) of revenues
over expenditures5,918,725 (6,283,705) 278,546 (5,313,789) (5,400,223)
Other financing sources (uses)
Payment to bond escrow agent- (27,796,231) - (16,882,653) (44,678,884)
Proceeds from bond issuance- 25,820,000 - 14,575,000 40,395,000
Premium on bond issuance- 2,075,642 - 2,356,749 4,432,391
Transfers in709,030 - - 5,572,441 6,281,471
Transfers (out)(5,085,695) (273,379) (343,759) - (5,702,833)
Total other financing sources
(uses)(4,376,665) (173,968) (343,759) 5,621,537 727,145
Net change in fund balances1,542,060 (6,457,673) (65,213) 307,748 (4,673,078)
Fund balances – beginning of year24,218,026 9,569,074 30,602,697 12,086,029 76,475,826
Fund balances – end of year25,760,086 $ 3,111,401 $ 30,537,484 $ 12,393,777 $ 71,802,748 $
See Notes to Financial Statements.
Revenues
Expenditures
28
Village of Glenview, Illinois
Reconciliation of the Governmental Funds Statement of Revenues, Expenditures,
and Changes in Fund Balances to the Statement of Activities
For the Year Ended December 31, 2012
Net changes in fund balances—total governmental funds(4,673,078) $
Amounts reported for governmental activities in the Statement of Activities are
different because:
Governmental funds report capital outlays as expenditures while governmental
activities report depreciation expense to allocate those expenditures over
the lives of the assets.
Capital outlays4,264,990
Depreciation expense(5,431,452)
Loss on disposal of capital assets(33,887)
Depreciation and loss expense over capital outlays(1,200,349)
A net pension asset is considered to represent a financial resource and,
therefore, is not reported in the funds.(50,660)
The issuance of long-term debt provides current financial resources to
governmental funds, while the repayment of the principal on long-term
debt consumes the current financial resources of the governmental funds.
Reductions to compensated absences payable18,868
Retirement of debt50,095,000
Issuance of bonds, including premium(44,827,391)
Debt issuance costs incurred27,848
Amortization of unamortized premium/discount338,508
Amortization of unamortized bond issuance costs(57,880)
Change in deferred charges2,865,040
Change in other postemployment benefits(237,600)
Net affect of long-term debt8,222,393
Changes to accrued interest on long-term debt in the Statement of
Activities does not require the use of current financial resources and,
therefore, are not reported as expenditures in the governmental funds.52,545
Internal service funds are used by the Village to charge the cost of
vehicle and equipment management and insurance to individual
funds. A portion of the net revenue of the internal service fund is
reported with governmental activities.979,637
Change in net position of governmental activities – statement of activities3,330,488 $
See Notes to Financial Statements.
29
Village of Glenview, Illinois
Proprietary Funds
Statement of Net Position
December 31, 2012 Business-type Activities
GlenviewNorth MaineGlenview
WaterWater andSanitary
Assets FundSewer FundSewer Fund
Current assets
Cash and cash equivalents951,691 $ 2,184,028 $ 423,516 $
Investments1,833,229 1,456,724 835,671
Receivables
Accounts, net1,805,257 1,074,063 678,779
Interest - - -
Other - - -
Prepaid items- - -
Inventory55,004 - -
Due from other governments- - -
Total current assets4,645,181 4,714,815 1,937,966
Noncurrent assets
Capital assets, not being depreciated67,851 235,000 -
Capital assets being depreciated - net34,142,753 5,901,123 16,458,401
Total noncurrent assets34,210,604 6,136,123 16,458,401
Total assets38,855,785 10,850,938 18,396,367
Liabilities
Current liabilities
Accounts payable961,323 1,174,757 253,462
Accrued payroll40,260 17,397 8,134
Accrued interest payable4,035 22,739 3,170
Accrued expenses- - -
Claims payable- - -
Unearned revenues- - -
Advances from other funds- 3,211,647 -
Current portion of long-term liabilities330,993 288,655 253,000
Total current liabilities1,336,611 4,715,195 517,766
Noncurrent liabilities
Long-term liabilities due in more than
one year1,078,981 1,299,323 819,505
Total liabilities2,415,592 6,014,518 1,337,271
Net Position
Net investment in capital assets32,845,597 4,548,145 15,385,896
Unrestricted3,594,596 288,275 1,673,200
Total net position36,440,193 $ 4,836,420 $ 17,059,096 $
See Notes to Financial Statements.
30
Governmental
NonmajorTotalActivities
EnterpriseEnterpriseInternal Service
FundsFundsFunds
1,434,281 $ 4,993,516 $ 2,696,685 $
481,351 4,606,975 14,645,571
169,092 3,727,191 88,809
- - 37,227
- - 40,000
- - 1,081,846
- 55,004 339,117
3,473 3,473 -
2,088,197 13,386,159 18,929,255
500,000 802,851 -
3,051,960 59,554,237 -
3,551,960 60,357,088 -
5,640,157 73,743,247 18,929,255
166,914 2,556,456 394,197
1,528 67,319 11,645
- 29,944 -
443 443 157,464
- - 1,802,990
- - 20,692
- 3,211,647 -
- 872,648 -
168,885 6,738,457 2,386,988
- 3,197,809 -
168,885 9,936,266 2,386,988
3,551,960 56,331,598 -
1,919,312 7,475,383 16,542,267
5,471,272 $ 63,806,981 $ 16,542,267 $
31
Village of Glenview, Illinois
Proprietary Funds
Statement of Revenues, Expenses, and Changes in Fund Net Position
For the Year Ended December 31, 2012
Business-type Activities -
GlenviewNorth MaineGlenview
WaterWater andSanitary
FundSewer FundSewer Fund
Operating revenues
Charges for sales and services11,101,792 $ 8,130,434 $ 2,449,622 $
Miscellaneous249,937 99,394 73,400
Total operating revenues11,351,729 8,229,828 2,523,022
Operating expenses
Operations and maintenance
Insurance services- - -
Parking services- - -
Water services9,019,193 - -
Sewerage services- - 1,259,552
North Maine water and sewer distribution- 7,001,061 -
Capital asset repair and replacement- - -
Depreciation and amortization1,138,308 205,868 412,806
Total operating expenses10,157,501 7,206,929 1,672,358
Operating income1,194,228 1,022,899 850,664
Nonoperating revenues (expenses)
Other income- - 23,184
Investment income9,719 12,780 4,524
Gain (loss) on sale of capital assets(123,657) 18,763 (11,123)
Reassignment of capital assets- - -
Interest and fiscal charges(58,581) (192,820) (46,028)
Total nonoperating revenues
(expenses)(172,519) (161,277) (29,443)
Income before transfers1,021,709 861,622 821,221
Transfers in- - 74,555
Transfers out- (135,651) -
Change in net position1,021,709 725,971 895,776
Net position – beginning of year35,418,484 4,110,449 16,163,320
Net position – end of year36,440,193 $ 4,836,420 $ 17,059,096 $
See Notes to Financial Statements.
32
Enterprise FundsGovernmental
NonmajorTotalActivities
EnterpriseEnterpriseInternal Service
FundsFundsFunds
2,580,971 $ 24,262,819 $ 11,181,828 $
9,000 431,731 534,022
2,589,971 24,694,550 11,715,850
- - 6,351,141
382,089 382,089 -
1,079,893 10,099,086 -
- 1,259,552 -
- 7,001,061 -
- - 2,206,492
137,287 1,894,269 -
1,599,269 20,636,057 8,557,633
990,702 4,058,493 3,158,217
- 23,184 -
6,767 33,790 437,357
- (116,017) -
- - (2,864,315)
(8,240) (305,669) -
(1,473) (364,712) (2,426,958)
989,229 3,693,781 731,259
- 74,555 248,378
(765,920) (901,571) -
223,309 2,866,765 979,637
5,247,963 60,940,216 15,562,630
5,471,272 $ 63,806,981 $ 16,542,267 $
33
Village of Glenview, Illinois
Proprietary Funds
Statement of Cash Flows
For the Year Ended December 31, 2012
Business-type Activities –
GlenviewNorth MaineGlenview
WaterWater andSanitary
FundSewer FundSewer Fund
Cash flows from operating activities
Cash received from customers and users10,929,245 $ 8,325,369 $ 2,411,414 $
Cash received from other sources30,650 - 95,213
Cash payments for goods and services(7,070,840) (8,418,938) (1,114,446)
Cash payments to employees(1,999,572) (823,925) (414,894)
Net cash provided by (used in) operating activities1,889,483 (917,494) 977,287
Cash flows from noncapital financing activities
Transfers in- - 74,555
Transfers out- (608,302) -
Net cash provided by (used in) noncapital
financing activities- (608,302) 74,555
Cash flows from capital and related financing activities
Purchases of capital assets(863,037) (95,573) (751,259)
Proceeds from sales of capital assets- 18,763 -
Principal payments(308,000) (281,419) (242,000)
Interest payments(59,479) (195,778) (46,734)
Net cash used in capital and related financing
activities(1,230,516) (554,007) (1,039,993)
Cash flows from investing activities
Purchase of investments(215,174) (4,450) (2,539)
Sale of investments- - -
Interest received9,719 12,780 4,524
Net cash provided by (used in) investing activities(205,455) 8,330 1,985
Net increase (decrease) in cash and cash equivalents453,512 (2,071,473) 13,834
Cash and cash equivalents – beginning of year498,179 4,255,501 409,682
Cash and cash equivalents – end of year951,691 $ 2,184,028 $ 423,516 $
See Notes to Financial Statements
34
Enterprise FundsGovernmental
NonmajorTotalActivities
EnterpriseEnterpriseInternal Service
FundsFundsFunds
2,735,657 $ 24,401,685 $ 11,712,946 $
- 125,863 -
(1,373,136) (17,977,360) (10,392,000)
(76,831) (3,315,222) (848,604)
1,285,690 3,234,966 472,342
694 75,249 248,378
(765,920) (1,374,222) -
(765,226) (1,298,973) 248,378
- (1,709,869) (2,864,315)
- 18,763 -
(225,000) (1,056,419) -
(8,962) (310,953) -
(233,962) (3,058,478) (2,864,315)
(1,744) (223,907) (8,730,260)
200,000 200,000 11,070,497
6,767 33,790 409,206
205,023 9,883 2,749,443
491,525 (1,112,602) 605,848
942,756 6,106,118 2,090,837
1,434,281 $ 4,993,516 $ 2,696,685 $
(Continued)
35
Village of Glenview, Illinois
Proprietary Funds
Statement of Cash Flows (Continued)
For the Year Ended December 31, 2012
Business-type Activities –
GlenviewNorth MaineGlenview
WaterWater andSanitary
FundSewer FundSewer Fund
Reconciliation of operating income to net cash
provided by operating activities:
Operating income 1,194,228 $ 1,022,899 $ 850,664 $
Adjustments to reconcile operating income to
net cash provided by (used in) operating activities
Depreciation and amortization1,138,308 205,868 412,806
Other income- - 23,184
Changes in assets and liabilities
Accounts receivable(403,520) 93,641 (60,067)
Other receivable11,686 1,900 20,488
Prepaid expense- - -
Inventory4,409 - -
Accounts payable(86,529) (2,256,920) (277,401)
Accrued payroll35,720 15,118 7,613
Accrued expenses- - -
Compensated absences(4,819) - -
Claims payable- - -
Unearned revenue- - -
Total adjustments695,255 (1,940,393) 126,623
Net cash provided by (used in)
operating activities1,889,483 $ (917,494) $ 977,287 $
See Notes to Financial Statements.
36
Enterprise FundsGovernmental
NonmajorTotalActivities
EnterpriseEnterpriseInternal Service
FundsFundsFunds
990,702 $ 4,058,493 $ 3,158,217 $
137,287 1,894,269 -
- 23,184 -
145,686 (224,260) (23,596)
- 34,074 -
- - (998,261)
- 4,409 (57,570)
10,193 (2,610,657) (369,964)
1,379 59,830 78,674
443 443 50,146
- (4,819) -
- - (1,385,996)
- - 20,692
294,988 (823,527) (2,685,875)
1,285,690 $ 3,234,966 $ 472,342 $
37
Village of Glenview, Illinois
Pension
TrustAgency
Assets FundsFund
Cash and cash equivalents3,055,068 $ 536,013 $
Investments
U.S. government and agency obligations51,059,880 -
Municipal obligations2,675,912 -
Corporate obligations2,040,756 -
Equity mutual funds52,495,032 -
Money market funds and certificates of deposits- 3,295,776
Receivables
Property taxes- 273,008
Accrued interest receivable232,189 5,749
Due from other funds23,114 -
Prepaid expenses1,962 -
Total assets111,583,913 4,110,546
Liabilities
Accounts payable- 123,480
Refundable deposits- 3,583,298
Accrued expenses16,021 -
Advances from other funds- 10,413
Due to bond holders- 393,355
Total liabilities16,021 4,110,546
Net Position
Held in trust for pension benefits111,567,892 $ -$
See Notes to Financial Statements.
Statement of Fiduciary Net Position
Fiduciary Funds
December 31, 2012
38
Village of Glenview, Illinois
Additions
Contributions
Employer 4,738,702 $
Participant 1,386,791
Total contributions6,125,493
Investment income
Net appreciation in fair value of investments6,213,709
Interest income 2,899,490
Less investment expenses(227,014)
Net investment income 8,886,185
Total additions 15,011,678
Deductions
Retirement pension 6,006,618
Widow pensions 511,767
Disability pensions 503,696
Total deductions 7,022,081
Change in net position7,989,597
Net position held in trust for pension benefits
Beginning 103,578,295
Ending 111,567,892 $
See Notes to Financial Statements.
Statement of Changes in Plan Net Position
Pension Trust Funds
For the Year Ended December 31, 2012
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
39
Note 1. Summary of Significant Accounting Policies
The Village of Glenview, Illinois, (Village) was incorporated in 1899. The Village operates under a
Council-Manager form of government and provides services which include: police and fire safety, water
utility, sanitary sewer utility, stormwater management, street maintenance, community development, and
general administrative services.
The financial statements of the Village have been prepared in conformity with accounting principles
generally accepted in the United States of America (GAAP), as applied to government units. The
Governmental Accounting Standards Board (GASB) is the accepted standard setting body for
establishing governmental accounting and financial reporting principles.
The following is a summary of the Village’s more significant accounting policies:
Reporting Entity
As defined by accounting principles generally accepted in the United States of America established by
GASB, the financial reporting entity consists of the primary government, as well as its component units,
which are legally separate organizations for which the elected officials of the primary government are
financially accountable. Financial accountability is defined as:
(a) Appointment of a voting majority of the component unit’s board, and either (1) the ability to
impose will by the primary government, or (2) the possibility that the component unit will provide a
financial benefit to or impose a financial burden on the primary government; or
(b) Fiscal dependency on the primary government.
Based on the above criteria, the Glenview Library (Library) is a component unit to the Village of Glenview.
In the government-wide financial statements, the Library is presented in a separate column to emphasize
that it is legally separate from the Village.
The Library operates and maintains the public library within the Village. The Library's seven-member
board is separately elected by the voters of the Village and annually determines its budget and resulting
tax levy, which is levied by the Village. The Library may not issue bonded debt without the approval of the
Village.
Separate financial statements are disclosed in the component unit portion of this report. The Library does
not issue separate financial statements.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
40
Note 1. Summary of Significant Accounting Policies (Continued)
Government-wide and Fund Financial Statements
The government-wide financial statements (i.e., the statement of net position and the statement of
activities) report information on all of the nonfiduciary activities of the Village. For the most part, the effect
of interfund activity has been removed from these statements. Governmental activities, which normally
are supported by taxes and intergovernmental revenues, are reported separately from business-type
activities, which rely to a significant extent on fees and charges for services.
The statement of net position presents the Village’s nonfiduciary assets and liabilities with the difference
reported in three categories:
Investment in capital assets consists of capital assets, net of accumulated depreciation and reduced
by outstanding balances for bonds and other debt that are attributable to the acquisition, construction,
or improvement of those assets.
Restricted net position results when constraints are placed on net position use, either externally
imposed by creditors, grantors, contributors, and the like, or imposed by law through constitutional
provisions or enabling legislation.
Unrestricted net position consists of net position that does not meet the criteria of the two preceding
categories.
The Village generally applies restricted resources first when an expense is incurred for purposes for
which both restricted and unrestricted net resources are available. See additional information beginning
on page 43.
The statement of activities demonstrates the degree to which the direct expenses of a given function or
segment are offset by program revenues. Direct expenses are those that are clearly identifiable with a
specific function or segment. Program revenues include: 1) charges to customers or applicants who
purchase, use, or directly benefit from goods, services, or privileges provided by a given function or
segment and 2) grants and contributions that are restricted to meeting the operational needs of the
Village or 3) capital requirements of a particular function or segment. Taxes and other items properly not
included among program revenues are reported instead as general revenues.
Separate financial statements are provided for governmental funds, proprietary funds, and fiduciary
funds, even though the latter are excluded from the government-wide financial statements. Major
individual governmental and business-type funds are reported as separate columns in the fund financial
statements. Details for nonmajor funds are reported in the supplementary information.
Fund Accounting
The Village uses funds to report on its financial position and the results of its operations. Fund
accounting is designed to demonstrate legal compliance and to aid financial management by segregating
transactions related to certain governmental functions or activities. A fund is a separate accounting entity
with a self-balancing set of accounts.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
41
Note 1. Summary of Significant Accounting Policies (Continued)
Fund Accounting (Continued)
Funds are classified into three broad categories: governmental, proprietary, and fiduciary. Each category,
in turn, is divided into separate “fund types.”
Governmental Funds
Governmental funds are used to account for all or most of a government’s general activities, including the
collection and disbursement of earmarked monies (special revenue funds), the acquisition or construction
of capital assets (capital projects funds), and servicing of general long-term debt (debt service funds). The
General Fund is used to account for all activities of the general government not accounted for in another
fund. The following are the Village's governmental fund types and funds:
General Fund is the general operating fund of the Village. It is used to account for all financial
resources except those not accounted for in other funds.
Special Revenue Funds are used to account for the proceeds of specific revenue sources (other than
expendable trusts or major capital projects) that are restricted, committed, or assigned to expenditures
for specified purposes. The Village has the following special revenue funds:
Special Tax Allocation Fund - a major fund
Motor Fuel Tax Fund
Foreign Fire Insurance Fund
Police Department Special Account Funds
Debt Service Funds are used for the servicing of general long-term debt. The Village has the following
debt service fund:
Corporate Purpose Debt Service Fund
Capital Project Funds are used to account for financial resources to be used for the acquisition or
construction of major capital assets (other than those financed by proprietary funds). The Village has
the following capital project funds:
Village Permanent Fund – a major fund
Capital Projects Fund
Glen Capital Projects Fund
Proprietary Funds
Proprietary funds are used to account for activities in a similar manner as those found in the private
sector. The measurement focus is on the determination of net income. Activities of these funds include
services provided to residents of the Village (such as water and sanitary sewer services) and services
provided to other funds (such as self-insurance and vehicle maintenance). The following are the Village’s
proprietary fund types and funds:
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
42
Note 1. Summary of Significant Accounting Policies (Continued)
Fund Accounting (Continued)
Enterprise Funds are used to account for operations (a) that are financed and operated in a manner
similar to private business enterprises where the intent of the governing body is that the costs
(expenses, including depreciation) of providing goods or services to the residents of the Village on a
continuing basis be financed or recovered primarily through user charges; or (b) where the governing
body has decided that periodic determination of revenues earned, expenses incurred, and/or net
income is appropriate for capital maintenance, public policy, management control, accountability, or
other purposes. 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
Internal Service Funds are used to account for the financing of goods or services provided by one
department to other departments of the Village on a cost-reimbursement basis. The Village has the
following internal service funds:
Capital Equipment Replacement Fund
Municipal Equipment Repair Fund
Insurance and Risk Fund
Facilities Replacement Fund
Fiduciary Funds
Fiduciary funds are used to account for assets held on behalf of outside parties, including other
governments. When these assets are held under the terms of a formal trust agreement, a trust fund is
used. The following are the Village's fiduciary fund types and funds:
Trust Funds are used to account for and report pension plans. The Village has the following pension
trust funds:
Police Pension Fund
Firefighters' Pension Fund
Agency Funds are used to account for and report assets held on behalf of other parties and changes
in the assets. The Village has the following agency funds:
Special Service Area (SSA) Bond Fund
Escrow Deposit Fund
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
43
Note 1. Summary of Significant Accounting Policies (Continued)
Fund Balance
The Governmental Accounting Standards Board (GASB) has issued Statement No. 54, Fund Balance
Reporting and Governmental Fund Type Definitions (GASB 54), which was adopted by the Village for the
year ended December 31, 2011. In the fund financial statements, governmental funds now report five
components of fund balance: nonspendable, restricted, committed, assigned, and unassigned.
Nonspendable - includes amounts that cannot be spent because they are either not in spendable
form or legally or contractually required to be maintained intact. The nonspendable in form criteria
includes items that are not expected to be converted to cash such as prepaid items or inventories.
Restricted – includes amounts that are restricted to specific purposes, that is, when constraints
placed on the use of the resources are either a) externally imposed by creditors (such as through
debt covenants), grantors, contributors, or laws or regulations of other governments, or b) imposed by
law through constitutional provisions or enabling legislation.
Committed - refers to amounts that can only be used for specific purposes pursuant to constraints
imposed by formal action of the Village's highest level of decision making authority (the Board of
Trustees). The Board of Trustees commits fund balance by passing a resolution. Amounts committed
cannot be used for any other purpose unless the Village removes or changes the specific use by
taking the same type of formal action it employed to previously commit those funds.
Assigned - refers to amounts that are constrained by the Village's intent to be used for a specific
purpose, but are neither restricted or committed. Intent may be expressed by the Board of Trustees or
the individual the Board of Trustees delegates the authority to assign amounts to be used for specific
purposes. The Board of Trustees delegated this authority to the Village Manager.
Unassigned - refers to all spendable amounts not contained in the other four classifications described
above. In funds other than the general fund, the unassigned classification is used only to report a
deficit balance resulting from overspending for specific purposes for which amounts had been
restricted, committed, or assigned.
In the General Fund, the Village considers restricted amounts to have been spent first when expenditure
is incurred for purposes for which both restricted and unrestricted fund balance is available, followed by
committed amounts, then assigned amounts. Unassigned amounts are used only after the other
categories of fund balance have been fully utilized.
In governmental funds other than the General Fund, the Village considers restricted amounts to have
been spent last. When an expenditure is incurred for purposes for which both restricted and unrestricted
fund balance is available, the Village will first use assigned amounts, followed by committed amounts
then restricted amounts.
See Note 14 for additional detail on the components of the General Fund’s fund balance at December 31,
2012.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
44
Note 1. Summary of Significant Accounting Policies (Continued)
Measurement Focus, Basis of Accounting, and Financial Statement Presentation
The government-wide financial statements are reported using the economic resources measurement
focus and the accrual basis of accounting, as are the proprietary fund statements. Revenues are
recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of
related cash flows. Property taxes are recognized as revenues in the year for which they are levied.
Property taxes are levied in December 2012 to finance the Village's 2013 calendar year. Grants and
similar items are recognized as revenue as soon as all eligibility requirements imposed by the provider
have been met.
Governmental fund financial statements are reported using the current financial resources measurement
focus and the modified accrual basis of accounting. Earned revenues are recognized as soon as they are
both measurable and available. Revenues are considered to be available when they are collectible within
the current period or soon enough thereafter to pay liabilities of the current period. A sixty day availability
period is used for revenue recognition of property tax revenues and a ninety day period is generally used
for all other governmental fund revenues. Expenditures generally are recorded when a liability is
incurred, as under accrual accounting. However, debt service expenditures, as well as expenditures
related to compensated absences and claims and judgments, are recorded when payment is due.
General capital asset acquisitions are reported as expenditures in governmental funds.
Significant revenue sources which are susceptible to accrual include property taxes, other taxes, charges
for services, grants, franchise taxes, licenses, and interest. All other revenue items are considered to be
measurable and available only when cash is received by the Village.
The Village reports the following major governmental funds:
The General Fund is the general operating fund of the Village. It is used to account for all financial
resources not accounted for in other funds.
The Special Tax Allocation Fund, a special revenue fund, is used to account for the incremental
property tax revenue that is generated through the growth of the assessed valuation at The Glen,
(formerly referred to as Glenview Naval Air Station) and the "Make-Whole" payments to core
jurisdictions within the boundaries of the Tax Increment District. The core jurisdictions consist of: the
Village of Glenview, School District 34, High School District 225, the Glenview Park District, and the
Glenview Public Library, a component unit of the Village. This fund also accounts for the service and
incentive fees within the Tax Increment District.
The Village Permanent Fund, a capital projects fund used to accumulate and account for a specific
portion of the land sales proceeds of The Glen. Twenty percent of the land sale revenues are
restricted for capital expenditures throughout the Village (outside of the Glen). Additionally,
Permanent Fund assets can be loaned for short-term liquidity to other Village funds as a result of
exhaustion of cash reserves.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
45
Note 1. Summary of Significant Accounting Policies (Continued)
Measurement Focus, Basis of Accounting, and Financial Statement Presentation
The Village reports the following major proprietary funds:
The Glenview Water Fund (formerly called the Waterworks Fund) accounts for the provision of water
services to the property owners in the Village. All activities necessary to provide such services are
accounted for in this fund including, but not limited to, administration, operations, maintenance,
financing and related debt service, and billing and collections.
The North Maine Water and Sewer Fund accounts for the provision of water and sewer services to
the property owners in an unincorporated area southwest of the Village. This area was formerly
served by the North Suburban Public Utilities Company. All activities necessary to provide such
services are accounted for in this fund including, but not limited to, administration, operations,
maintenance, financing and related debt service, and billing and collections.
The Glenview Sanitary Sewer Fund (formerly called the Sewerage Fund) accounts for the provision of
sanitary sewer services to property owners in both incorporated and unincorporated areas of the
Village. All activities necessary to provide such services are accounted for in this fund including, but
not limited to, administration, transmissions, maintenance, financing and related debt service, and
billing and collections. Treatment is performed by another agency.
As a general rule, the effect of interfund activity has been eliminated from the government-wide financial
statements. However, interfund services provided and used are not eliminated in the process of
consolidation.
Amounts reported as program revenues include: 1) charges to customers for goods, services, or
privileges provided, 2) operating grants and contributions, and 3) capital grants and contributions,
including assessments. Internally dedicated resources are reported as general revenue rather than as
program revenue. Likewise, general revenues include all taxes.
Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating
revenues and expenses generally result from providing services and producing and delivering goods in
connection with a proprietary fund's principal ongoing operations. The principal operating revenues of the
enterprise fund and of the Village’s internal service fund are charges to customers for sales and services.
Operating expenses for an enterprise fund and an internal service fund include the cost of sales and
services, administrative expenses, and depreciation on capital assets. All revenues and expenses not
meeting this definition are reported as nonoperating revenues and expenses.
The Village reports deferred and unearned revenues on its financial statements. Deferred revenues arise
when a potential revenue does not meet both the "measurable" and "available" criteria for recognition in
the current period for the governmental funds. Unearned revenues also arise when resources are
received by the Village before it has a legal claim to them, as when grant monies are received prior to the
incurrence of qualifying expenditures. In subsequent periods, when revenue recognition criteria are met
or when the Village has a legal claim to the resources, the liability for unearned revenues is removed from
the financial statements and revenue is recognized.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
46
Note 1. Summary of Significant Accounting Policies (Continued)
Cash Equivalents
For purposes of the statement of cash flows, the proprietary fund types consider all highly liquid
investments with maturities of three months or less, at the date of purchase, to be cash equivalents.
Investments
Investments are carried at fair value based on quoted market prices.
Receivables
The recognition of receivables associated with nonexchange transactions is as follows:
Derived tax receivables (such as sales, income, and motor fuel taxes) are recognized when the
underlying exchange has occurred.
Imposed nonexchange receivables (such as property taxes and fines) are recognized when an
enforceable legal claim has arisen.
Government-mandated or voluntary nonexchange transaction receivables (such as mandates or
grants) are recognized when all eligibility requirements have been met.
Inventory and Prepaid Items
Inventory is accounted for at cost, using the first-in, first-out method. Inventories of governmental funds
are accounted for under the consumption method, whereby acquisitions are recorded in inventory
accounts initially and charged to expenditures when used.
Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as
prepaid items in both government-wide and fund financial statements using the consumption method.
Unbilled Services
Unbilled revenue in the proprietary funds is recognized as earned when the services are provided.
Capital Assets
Capital assets, which include property, buildings, vehicles, equipment, and infrastructure assets (e.g.
roads, bridges, and similar items), are reported in the applicable governmental or business-type activities
columns in the government-wide financial statements and in the proprietary funds statements. Capital
assets are defined as those having an estimated useful life greater than one year with an initial, individual
cost of more than $25,000. Additionally, the Library reports its collection of books and materials as a
capital asset. Capital assets are recorded at historical cost, or estimated historical cost if purchased or
constructed. Donated capital assets are recorded at estimated fair market value at the date of donation.
The costs of normal maintenance and repairs that do not add to the value of the assets or materially
extend asset lives are not capitalized. Improvements are capitalized and depreciated over the remaining
useful lives of the related capital assets, as applicable.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
47
Note 1. Summary of Significant Accounting Policies (Continued)
Capital Assets (Continued)
Major outlays for capital assets and improvements are capitalized as projects are constructed. Interest
incurred during the construction phase of capital assets of business-type activities is included as part of
the capitalized cost of the assets constructed.
Capital assets are depreciated using the straight-line method over the following useful lives:
Buildings and improvements 10 - 80 years
Infrastructure* 25 - 80 years
Water system 50 years
Sanitary sewer system 50 years
Machinery and equipment, and vehicles 5 - 10 years
Library books and materials 7 years
*Infrastructure includes roads, curbs, gutters, storm sewers, recreational paths, street lights, field lights,
bridges, and traffic control signals.
Accrued Vacation and Sick Leave (Compensated Absences)
Compensated Absences include accumulated vacation and compensatory time as employees are not
paid for sick time in the event of termination. Employees are required to use one-half of the vacation
days they earn each year or they lose it and the remaining days can be used, saved, or carried over into
the next year in the employee’s vacation “bank”. Employees may not accumulate more than 30 days
worth of unused vacation time in their vacation “bank”. Employees are allowed to accumulate
compensatory time to a maximum amount specified in their union contracts or Village personnel manual
as follows:
Non-Union Personnel 80 hours
Public Works Union 120 hours
Dispatch Union 84 hours
Police Union 84 hours
Firefighter Union N/A
Long-Term Obligations
In the government-wide financial statements and proprietary fund types in the fund financial statements,
long-term debt and other long-term obligations, including compensated absences, are reported as
liabilities in the applicable governmental activities or business-type activities statement of net position.
Bond premiums and discounts are reported net of the associated debt and are deferred and amortized
over the life of the bonds on a straight-line basis. Bond issuance costs are reported as deferred charges
and amortized over the term of the related debt.
In the fund financial statements, governmental funds recognize bond premiums and discounts, as well as
bond issuance costs, during the current period. The face amount of debt issued is reported as other
financing sources. Premiums received on debt issuances are reported as other financing sources, while
discounts on debt issuances are reported as other financing uses. Issuance costs, whether or not
withheld from the actual debt proceeds received, are reported as expenditures.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
48
Note 1. Summary of Significant Accounting Policies (Continued)
Long-Term Obligations (Continued)
Debt service funds are specifically established to account for and service the long-term obligations for the
governmental funds' debt. Enterprise funds individually account for and service the applicable debt that
benefits those funds. Long-term debt is recognized as a liability in a governmental fund when due or
when resources have been accumulated for payment early in the following year.
Claims and Judgments
Liabilities resulting from claims and judgments, including claims incurred but not reported, have been
reflected in the financial statements.
Capital Contributions
Capital contributions, if any, reported in the Statement of Activities and proprietary funds represent capital
assets donated from outside parties, principally developers.
Interfund Transactions
The Village has the following types of transactions between funds:
Loans - amounts provided with a requirement for repayment. Interfund loans are reported as due from
other funds in lender funds and due to other funds in borrower funds for short-term borrowings.
Advances to other funds are reported in lender funds and advances from other funds in borrower
funds for long-term borrowings. Amounts are reported as internal balances in the government-wide
statement of net position.
Services provided and used - sales and purchases of goods and services between funds for a price
approximating their external exchange value. Interfund services provided and used are reported as
revenues in seller funds and expenditures or expenses in purchaser funds. Unpaid amounts are
reported as due to/from other funds in the fund balance sheets or fund statements of net position.
Reimbursements - repayments from the funds responsible for particular expenditures or expenses to
the funds that initially paid for them. Reimbursements are reported as expenditures in the reimbursing
fund and as a reduction of expenditures in the reimbursed fund.
Transfers - flows of assets (such as cash or goods) without equivalent flows of assets in return and
without a requirement for repayment. In governmental funds, transfers are reported as other financing
uses in the funds making transfers and as other financing sources in the funds receiving transfers. In
proprietary funds, transfers are reported as a separate category after nonoperating revenues and
expenses.
Use of Estimates
In preparing financial statements, management is required to make estimates and assumptions that affect
the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date
of the financial statements, and the reported amounts of revenues, expenditures, and expenses during
the reporting period. Actual results could differ from those estimates.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
49
Note 2. Deposits and Investments
The Village maintains a cash and investment pool that is available for use by most funds. Each fund’s
portion of this pool is displayed on the balance sheet/statement of net position as "cash and cash
equivalents" and "investments." In addition, investments are separately held by several of the Village's
funds. The Village's investment policy and state statutes allow the Village to invest in the following:
- Interest-bearing accounts of banks and savings and loan associations insured by the Federal
Deposit Insurance Corporation.
- Obligations of the U.S. Treasury and U.S. agencies.
- Insured accounts of an Illinois credit union chartered under United States or Illinois law.
- Money market mutual funds with portfolios of securities issued or guaranteed by the United
States or agreements to repurchase these same types of obligations.
- Repurchase agreements which meet instrument transaction requirements of Illinois law.
- Short-term obligations of U.S. corporations rated in the three highest classifications by at least
two standard rating agencies.
- The Illinois Funds
- Illinois Metropolitan Investment Fund
The Village’s investment policy limits the Village from investing in any financial institution in which the
Village’s funds on deposit are in excess of 75% of the institution’s capital stock and surplus.
The deposits and investments of the Police Pension Fund and the Firefighters' Fund are held separately
from each other and from those of other Village funds. In addition to the aforementioned investments,
these pension funds are also permitted to invest in the following instruments:
- Bonds issued by any county, city, township, village, incorporated town, municipal corporation, or
school district in Illinois.
- Direct obligations of the State of Israel.
- Separate accounts of Illinois-licensed insurance companies.
- Common and preferred stock.
As of December 31, 2012, cash and investments consisted of the following:
PensionAgencyComponent
VillageTrust FundsFundsUnitTotal
Demand deposits25,791,321 $ 2,664,335 $ 536,013 $ 1,155,538 $ 30,147,207 $
Certificates of deposit19,977,039 - 1,696,432 - 21,673,471
The Illinois Funds201,499 390,733 - 4,479 596,711
Illinois Metropolitan Investment Fund23,980,997 - 1,599,344 3,216,948 28,797,289
U.S. treasury obligations8,167,875 20,758,302 - - 28,926,177
U.S. agency obligations- 30,301,578 - - 30,301,578
Municipal obligations- 2,675,912 - - 2,675,912
Corporate obligations- 2,040,756 - - 2,040,756
Mutual funds - equity- 52,495,032 - - 52,495,032
Total78,118,731 $ 111,326,648 $ 3,831,789 $ 4,376,965 $ 197,654,133 $
Fiduciary Activities
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
50
Note 2. Deposits and Investments (Continued)
The Illinois Funds
Illinois Funds is an investment pool managed by the State of Illinois, Office of the Treasurer, which allows
governments within the State to pool their funds for investment purposes. Illinois Funds is not registered
with the SEC as an investment company, but does operate in a manner consistent with Rule 2a7 of the
Investment Company Act of 1940. Investments in Illinois Funds are valued at Illinois Funds’ share price,
which is the price the investment could be sold for.
Illinois Metropolitan Investment Fund
The Illinois Metropolitan Investment Fund (IMET) is not registered with the SEC. Oversight for IMET is
provided by the IMET Board. The Board is responsible for policy information, as well as policy and
administration oversight. The fair value of the positions in the pool is the same as the value of the pool
shares.
Custodial Credit Risk - Deposits
Custodial Credit Risk is the risk that in the event of a bank failure, the Village’s deposits may not be
returned. The Village’s investment policy requires that deposits that exceed the amount insured by the
FDIC insurance protection be secured by some form of collateral at the rate of 110% of such deposits by
U.S Government Securities, obligations of Federal instrumentalities, obligations of the State of Illinois, or
general obligation municipal bonds rated “AA” or better. As of December 31, 2012, the Village was not
exposed to custodial credit risk on deposits.
Interest Rate Risk
Interest rate risk is the risk that the fair value of investments will decrease as a result of an increase in
interest rates. In accordance with its investment policy, the Village limits its exposure to interest rate risk
by structuring the portfolio so that securities or other allowable investments mature to meet cash
requirements for ongoing operations, thereby avoiding the need to sell securities or other allowable
investments on the open market prior to maturity and by investing operating funds primarily in shorter-
term securities or other allowable investments. The policy was put in place to provide liquidity for short
and long-term cash flow needs while providing a reasonable rate of return based on the current market.
As of December 31, 2012 the Village and the Library (component unit) had the following investments and
maturities (excluding the pension funds):
FairLessGreater
Investment TypeValuethan 11-5than 5
U.S. treasury obligations8,167,875 $ 8,167,875 $ -$ -$
Illinois Metropolitan Investment Fund28,797,289 24,021,569 4,775,720 -
Totals36,965,164 $ 32,189,444 $ 4,775,720 $ -$
Investment Maturities (in years)
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
51
Note 2. Deposits and Investments (Continued)
Interest Rate Risk (continued)
In accordance with their investment policies, the pension funds limit their exposure to interest rate risk by
structuring the portfolios to provide liquidity for short-and long-term cash flow needs while providing a
reasonable rate of return based on the current market.
As of December 31, 2012, the Police Pension Fund had the following investments and maturities:
FairLessGreater
Investment TypeValuethan 11-56-10than 10
U.S. treasury obligations14,602,846 $ 625,833 $ 10,483,773 $ 3,102,958 $ 390,282 $
U.S. agency obligations13,160,964 964,967 2,277,447 4,122,058 5,796,492
Municipal obligations196,048 - 143,751 52,297 -
Corporate obligations2,040,756 220,137 809,485 1,011,134 -
Totals30,000,614 $ 1,810,937 $ 13,714,456 $ 8,288,447 $ 6,186,774 $
Investment Maturities (in years)
As of December 31, 2012, the Firefighters’ Pension Fund had the following investments and maturities:
FairLessGreater
Investment TypeValuethan 11-56-10than 10
U.S. treasury obligations6,155,456 $ 101,641 $ 4,453,845 $ 1,599,970 $ -$
U.S. agency obligations17,140,614 251,653 7,768,091 9,120,870 -
Municipal obligations2,479,864 - 544,930 1,825,729 109,205
Totals25,775,934 $ 353,294 $ 12,766,866 $ 12,546,569 $ 109,205 $
Investment Maturities (in years)
Credit Risk
Credit risk is the risk that the Village, Pension Funds or Library will not recover their investments due to
the ability of the counterparty to fulfill its obligation.
The Village limits its exposure to credit risk, by investing mainly in external investment pools. The Illinois
Funds Money Market Fund and Prime Fund are rated AAA by Standard and Poor's. The Illinois
Metropolitan Investment Fund (IMET) 1-3 Year Series and Convenience Fund are depository vehicles
that are 100 percent collateralized with obligations of the United States Treasury and its agencies. All
collateral securities are held in the name of the Illinois Metropolitan Investment Fund at the Federal
Reserve Bank of New York. IMET has been rated Aaa by Moody’s.
The Pension Funds general investment policies follow the prudent person rule subject to the specific
restrictions of the Illinois Pension Code and the Pension Funds’ asset allocation policy. Under the
prudent person rule, investments shall be made with the care, skill, prudence and diligence under the
circumstances then prevailing that a prudent person acting in like capacity and familiar with such matters
would use in the investment of a fund or like character and with like aims.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
52
Note 2. Deposits and Investments (Continued)
Credit Risk (Continued)
The Illinois Funds Money Market Fund and Prime Fund are rated AAA by Standard and Poor's. U.S.
Treasury obligations are backed by the full faith and credit of the U.S. Government and are not
considered to have credit risk.
As of December 31, 2012, the Pension Funds had the following fixed income investments which are rated
by Standard and Poor’s are as follows.
Fair
ValueAAAAAABBB
U.S. agency obligations30,301,578 $ 30,301,578 $ -$ -$ -$
Municipal obligations2,675,912 151,835 2,524,077 - -
Corporate obligations2,040,756 54,710 86,649 890,545 1,008,852
Totals35,018,246 $ 30,508,123 $ 2,610,726 $ 890,545 $ 1,008,852 $
Custodial Credit Risk
For an investment, custodial credit risk is the risk that, in the event of the failure of the counterparty, the
Village will not be able to recover the value of its investments or collateral securities that are in the
possession of an outside party. To limit its exposure, the Village's investment policy requires all
investments to be limited to the safest types of securities invested with pre-qualified institutions,
broker/dealers, intermediaries, and advisors, and soundly diversified. The Illinois Funds and Illinois
Metropolitan Investment Fund are not subject to custodial credit risk. The bank balance of the Village's
deposits with financial institutions was not exposed to custodial credit risk as it is fully insured or
collateralized as of December 31, 2012.
The Police Pension Fund’s investment policy requires all securities that are exposed to custodial credit
risk to be held by a third-party agent. The Firefighters’ Pension Fund’s investment policy requires all
investments to be limited to the safest types of securities invested with pre-qualified institutions,
broker/dealers, intermediaries, and advisors, and soundly diversified. The Illinois Funds is not subject to
custodial credit risk.
Concentration of Credit Risk
Concentration of credit risk is the risk of loss attributed to the magnitude of investment in any one single
issuer. It is the policy of the Village to diversify its investment portfolio. Investments shall be diversified to
eliminate the risk of loss resulting in an overconcentration in a security, maturity, issuer, or class of
securities. The Village was not exposed to concentration of credit risk as of December 31, 2012.
The Pension Funds' investment policies require diversification of investment to avoid unreasonable risk.
As of December 31, 2012, the Police Pension Fund and the Firefighters' Pension Fund had the following
investments (other than those explicitly guaranteed by the U.S. government) that exceeded 5% of Plan
net position:
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
53
Note 2. Deposits and Investments (Continued)
Concentration of Credit Risk (Continued)
Police PensionFire Pension
Federal Home Loan Bank3,898,288 $ 11,181,172 $
Federal Farm Credit Bank- 4,691,650
3,898,288 $ 15,872,822 $
Note 3. Receivables
Property Tax Receivables
The Village's property taxes are levied in December of each calendar year on all taxable real property
located in the Village. Property taxes attach as an enforceable lien on January 1 of the same levy year.
Tax bills are prepared by the County and issued on or about February 1 and September 1 of the following
calendar year, and are payable in two installments on or about March 1 and October 1 in that following
calendar year. The County collects such taxes and remits them periodically. An allowance for
uncollectible taxes has been established based on historical experience. Taxes levied in December 2012
are intended to finance the Village’s subsequent fiscal year and have been recorded as unearned
revenue. The Village has recognized the 2011 tax levy as revenue in fiscal year 2012.
Taxes Receivable
The following receivables are included in Receivables - Taxes on the Governmental Funds Balance
Sheet and Statement of Net Position - Governmental Activities:
Property 10,382,849 $
Sales 5,472,355
Utility 985,420
Income 1,243,244
Use 174,360
Franchise 162,170
Hotel 48,764
Amusement 9,137
Total taxes receivable 18,478,299 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
54
Note 3. Receivables (Continued)
Other Receivables
The following receivables are included in Receivables - Other on the Governmental Funds Balance Sheet
and Statement of Net Position – Governmental Activities:
Court fines 18,201 $
Tipping fees 42,489
911 surcharge fees 126,113
Grants 334,847
Interest 33,129
Licenses 21,222
Other 41,654
Total other receivables - Governmental Funds617,655
Internal Service Funds and other adjustments87,639
Total other receivables - Governmental Activities705,294 $
Due From Other Governments
The following amount due from another government is included in Due From Other Governments on the
Governmental Funds Balance Sheet and the Statement of Net Position - Governmental Activities:
Illinois Department of Transportation - motor fuel taxes92,513 $
Note 4. Land Held for Resale
The Village reports land held for resale totaling $30,391,262 which consists of two parcels. The first
parcel reported at $23,891,262, consists of 41-acres of Village-owned property in The Glen TIF, in an
area near West Lake Avenue and Shermer Road. This land was declared surplus to the needs of the US
Navy and was sold to the Village in 2007 for development purposes. Proceeds of the General Obligation
Bonds, Taxable Series 2006B, provided funds for this land purchase; the Village is currently evaluating
purchase proposals for the property with closing anticipated by October 2013. The second parcel
reported at $6,500,000 is for the former Dominick’s leased property (1020 Waukegan Road). The Village
purchased this property in 2007 and continued to lease this property to Dominick’s through the lease
expiration date of December 31, 2012. The Village entered into an agreement in December 2012 to
lease the land over a ten year period to a high quality, full-service grocer. This agreement contains a
contingency period during which the grocer could terminate the agreement for reasons including inability
to secure satisfactory easements and lack of project feasibility. Additionally, under the agreement the
Village is responsible for demolishing the existing Dominick’s store and site preparation. The original
agreement was amended in February 2013 to extend the contingency period through March 15, 2013. It
is anticipated that the lease will commence on November 1, 2013 and will qualify as a capital lease at that
time.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
55
Note 5. Capital Assets
Governmental Activities
A summary of changes in capital assets for governmental activities of the Village is as follows:
BalanceBalance
January 1, December 31,
2012AdditionsDeletions2012
Capital assets not being depreciated
Land 6,935,698 $ -$ -$ 6,935,698 $
Land right of way55,145,791 93,007 - 55,238,798
Total capital assets not being
depreciated62,081,489 93,007 - 62,174,496
Capital assets being depreciated
Buildings and improvements75,688,788 1,011,090 - 76,699,878
Machinery and equipment10,396,904 1,853,225 476,667 11,773,462
Infrastructure132,342,461 1,307,668 78,319 133,571,810
Total capital assets being
depreciated218,428,153 4,171,983 554,986 222,045,150
Less accumulated depreciation
Buildings and improvements16,734,760 1,652,075 - 18,386,835
Machinery and equipment7,027,492 721,991 442,780 7,306,703
Infrastructure55,179,075 3,057,386 78,319 58,158,142
Total accumulated depreciation78,941,327 5,431,452 521,099 83,851,680
Total capital assets being
depreciated, net139,486,826 (1,259,469) 33,887 138,193,470
Governmental activities, capital
assets, net201,568,315 $ (1,166,462) $ 33,887 $ 200,367,966 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
56
Note 5. Capital Assets (Continued)
Business-type Activities
A summary of changes in capital assets for business-type activities of the Village is as follows:
BalanceBalance
January 1, December 31,
2012AdditionsDeletions2012
Capital assets not being depreciated
Land802,851 $ -$ -$ 802,851 $
Total capital assets not being
depreciated802,851 - - 802,851
Capital assets being depreciated
Buildings and improvements2,613,425 - - 2,613,425
Water system56,431,684 857,979 234,452 57,055,211
Sanitary sewer system22,256,690 751,260 34,186 22,973,764
Equipment and vehicles4,324,597 100,630 47,929 4,377,298
Total capital assets being
depreciated85,626,396 1,709,869 316,567 87,019,698
Less accumulated depreciation
Buildings and improvements678,357 71,045 - 749,402
Water system16,749,429 1,118,494 110,795 17,757,128
Sanitary sewer system4,704,002 441,995 23,064 5,122,933
Equipment and vehicles3,683,211 200,716 47,929 3,835,998
Total accumulated depreciation25,814,999 1,832,250 181,788 27,465,461
Total capital assets being
depreciated, net59,811,397 (122,381) 134,779 59,554,237
Business-type activities, capital
assets, net60,614,248 $ (122,381) $ 134,779 $ 60,357,088 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
57
Note 5. Capital Assets (Continued)
Depreciation Expense
Depreciation expense was charged to functions/programs of the primary government's governmental
activities as follows:
General government 3,164,406 $
Public safety 1,065,003
Public works 768,773
Development 433,270
Total governmental activity depreciation expense5,431,452 $
Depreciation expense for the business-type activities are as follows:
Glenview Water Fund 1,130,512 $
North Maine Water and Sewer Fund167,415
Glenview Sanitary Sewer Fund403,922
Wholesale Water Fund 62,816
Commuter Parking Fund 67,585
Total business-type activity depreciation expense1,832,250 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
58
Note 5. Capital Assets (Continued)
Component Unit – Glenview Library
A summary of changes in capital assets for the Library is as follows:
BalanceBalance
January 1, December 31,
2012AdditionsDeletions2012
Capital assets not being depreciated:
Land5,426,987 $ -$ -$ 5,426,987 $
Capital assets being depreciated:
Buildings and improvements26,901,546 - - 26,901,546
Equipment and vehicles113,402 - - 113,402
Library books and materials6,634,790 520,932 383,082 6,772,640
Total capital assets being
depreciated33,649,738 520,932 383,082 33,787,588
Less accumulated depreciation:
Buildings and improvements1,026,987 538,031 - 1,565,018
Equipment and vehicles43,153 22,081 - 65,234
Library books and materials4,234,017 1,022,246 54,726 5,201,537
Total accumulated depreciation5,304,157 1,582,358 54,726 6,831,789
Total capital assets being
depreciated, net28,345,581 (1,061,426) 328,356 26,955,799
Total capital assets, net33,772,568 $ (1,061,426) $ 328,356 $ 32,382,786 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
59
Note 6. Risk Management
The Village is exposed to various risks of loss related to torts; theft of, damage to, and destruction of
assets; errors and omissions; natural disasters; and illnesses of and injuries to the Village's employees.
The Village is self-insured (and participates in two public employee risk pools for health claims) for
general liability, auto, property, and workers' compensation risks. Commercial insurance is carried for
amounts in excess of the self-insured amounts. For all insured programs, settlement amounts have not
exceeded insurance coverage for the current or three prior years.
Self-Insurance
The Village established the Insurance and Risk Fund (an internal service fund) to report self-insurance
activities. The Village's policy is to finance currently in this fund all claims paid, estimated future
payments with respect to claims made, and estimated claims incurred but not reported. The Insurance
and Risk Fund provides coverage up to a maximum of $200,000 for each general liability claim, $550,000
for each workers' compensation claim, and $100,000 for each property damage claim. Such payments
are displayed on the fund financial statements as insurance services expenses.
Liabilities are reported when it is probable that a loss has occurred and the amount of the loss can be
reasonably estimated. Liabilities include an amount for claims that have been incurred but not reported
(IBNR). The total estimated claim liability as of December 31, 2012 was $1,802,990.
A reconciliation of the claims liability for the current year and that of the preceding year is reported below:
Unpaid claims liability - January 1, 20113,195,069 $
Claims incurred - calendar year 2011800,326
Claims paid - calendar year 2011(806,409)
Unpaid claims liability - December 31, 20113,188,986
Claims incurred - calendar year 2012*(312,207)
Claims paid - calendar year 2012(1,073,789)
Unpaid claims liability - December 31, 20121,802,990 $
*The Village changed their policy relating to the IBNR estimate in 2012 which led to a decrease in the estimate for 2012.
Intergovernmental Personnel Benefit Cooperative (IPBC)
The Village participates in the Intergovernmental Personnel Benefit Cooperative (IPBC). IPBC is a public
entity risk pool with a membership of thirteen local governments in Illinois to administer some or all of the
personnel benefit programs (such as medical, dental, and life insurance coverage) offered by its
members to their officers and employees and to the officers and employees of certain other
governmental, quasi-governmental, and nonprofit public service entities. Risk of loss is retained by the
Village, except that IPBC purchases excess insurance coverage.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
60
Note 6. Risk Management (Continued)
Intergovernmental Personnel Benefit Cooperative (IPBC) (Continued)
Management consists of a board of directors, comprised of one representative from each member. In
addition, there are three officers, a Benefit Administrator and a Treasurer. The Village does not exercise
any control over the activities of the IPBC beyond its representation on the Board of Directors.
High-Level Excess Liability Pool (HELP)
The Village participates in the High-Level Excess Liability Pool (HELP). HELP is a pool with a
membership of thirteen municipalities in Illinois to provide excess liability coverage ($10,000,000 of
coverage after a $2,000,000 self-insurance retention). The Village's payments to HELP are displayed on
the financial statements as expenses in the Insurance Fund.
The High-Level Excess Liability Pool was organized on April 1, 1987. The Term II agreement expired on
April 30, 2008, and was extended for another ten-year term (Term III), with an expiration date of April 30,
2018. The purpose of HELP is to act as a joint self-insurance pool for the purpose of seeking the
prevention or lessening of liability claims for injuries to persons or property or claims for errors and
omissions and employers' liability made against the members and other parties included within the scope
of its coverage.
Each municipality has one member on the HELP Board of Directors and all budgeting and finance
decisions are approved by the Board. Each director has an equal vote. The officers of HELP are
appointed by the Board of Directors. The Board of Directors determines the general policy of HELP,
makes all appropriations, approves contracts, adopts resolutions providing for the issuance of any debt by
HELP, adopts bylaws, rules and regulations, and exercises such powers and performs such duties as
may be prescribed in the Agency Agreement or the bylaws. The Village does not exercise any control
over the activities of HELP beyond its representation on the Board of Directors.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
61
Note 7. Long-Term Debt
Changes in Long-Term Liabilities
The following is a summary of changes in the Village's long-term liabilities in 2012:
Balance BalanceAmounts
January 1,December 31, due within
Issue2012AdditionsDeductions2012one year
Governmental activities:
General obligation bonds99,115,000 $ 40,395,000 $ 50,095,000 $ 89,415,000 $ 30,960,000 $
Unamortized
Bond discount(200,551) - (124,613) (75,938) -
Bond premium435,953 4,432,391 463,122 4,405,222 -
Loss on refunding- (2,989,171) (124,131) (2,865,040) -
Compensated absences1,483,022 99,718 118,586 1,464,154 292,831
Other postemployment benefits916,878 237,600 - 1,154,478 -
Total governmental activities101,750,302 42,175,538 50,427,964 93,497,876 31,252,831
Business-type activities:
General obligation bonds3,860,000 - 910,000 2,950,000 710,000
Notes payable1,395,273 - 146,419 1,248,854 153,655
Unamortized
Bond discount(3,688) - (2,395) (1,293) -
Bond premium15,994 - 3,482 12,512 -
Loss on refunding(219,629) - (35,046) (184,583) -
Compensated absences49,786 13,726 18,545 44,967 8,993
Total business-type activities5,097,736 13,726 1,041,005 4,070,457 872,648
Total Village long-term
liabilities106,848,038 $ 42,189,264 $ 51,468,969 $ 97,568,333 $ 32,125,479 $
Component Unit - Glenview Library
General obligation bonds24,820,000 $ -$ 1,045,000 $ 23,775,000 $ 1,070,000 $
Compensated absences252,347 68,626 41,826 279,147 55,829
Total component unit -
Glenview Library 25,072,347 $ 68,626 $ 1,086,826 $ 24,054,147 $ 1,125,829 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
62
Note 7. Long-Term Debt (Continued)
Changes in Long-Term Liabilities (Continued)
The following changes in the Village’s general obligation bonded debt occurred in 2012:
BeginningEndingDue Within
IssueBalanceIssuancesRetirementsBalanceOne Year
Governmental activities
$25,000,000 General Obligation
Bond Series 2004A18,300,000 $ -$ 18,300,000 $ -$ -$
$22,315,000 General Obligation
Bond Series 2004B19,150,000 - 16,750,000 2,400,000 1,175,000
$10,000,000 General Obligation
Refunding Bond Series 20059,975,000 - 8,700,000 1,275,000 1,275,000
$10,000,000 General Obligation
Bond Series 2006A10,000,000 - - 10,000,000 -
$11,290,000 General Obligation
Bond Series 2009D8,105,000 - 885,000 7,220,000 385,000
$28,125,000 General Obligation
Bond Series 2009E28,125,000 - - 28,125,000 28,125,000
$11,035,000 General Obligation
Refunding Bond Series 20115,460,000 - 5,460,000 - -
$18,090,000 General Obligation
Refunding Bond Series 2012A- 18,090,000 - 18,090,000 -
$14,575,000 General Obligation
Refunding Bond Series 2012B- 14,575,000 - 14,575,000 -
$7,730,000 General Obligation
Refunding Bond Series 2012C- 7,730,000 - 7,730,000 -
Total governmental general
obligation bonded debt99,115,000 $ 40,395,000 $ 50,095,000 $ 89,415,000 $ 30,960,000 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
63
Note 7. Long-Term Debt (Continued)
Changes in Long-Term Liabilities (Continued)
BeginningEndingDue Within
IssueBalanceIssuancesRetirementsBalanceOne Year
Business-type activities
$1,995,000 General Obligation
Refunding Bond Series 2003B225,000 $ -$ 225,000 $ -$ -$
$5,000,000 General Obligation
Bond Series 2007A
Debt retired by:
Glenview Sewer Fund1,309,000 - 242,000 1,067,000 253,000
Glenview Water Fund1,666,000 - 308,000 1,358,000 322,000
2,975,000 - 550,000 2,425,000 575,000
$1,200,000 General Obligation
Bond Series 2007B660,000 - 135,000 525,000 135,000
Total general obligation
bonds3,860,000 - 910,000 2,950,000 710,000
$2,850,00 Corporate Purpose
Note Series 19971,395,273 - 146,419 1,248,854 153,655
Total business-type
general obligation bonded
debt5,255,273 $ -$ 1,056,419 $ 4,198,854 $ 863,655 $
Component Unit-Glenview Library
$26,300,000 General Obligation
Bond Taxable Series 2009A24,820,000 $ -$ 1,045,000 $ 23,775,000 $ 1,070,000 $
Total general obligation
bonded debt129,190,273 $ 40,395,000 $ 52,196,419 $ 117,388,854 $ 32,893,655 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
64
Note 7. Long-Term Debt (Continued)
General Long-Term Debt
At December 31, 2012, general obligation bonded debt is comprised of the following:
Remaining Balance
$22,315,000 General Obligation Bond Series 2004B
Dated August 1, 2004 and partially defeased on December 18, 2012.
The remaining debt service is due in annual installments of $1,175,000 to
$1,225,000 plus interest at 4.0% through December 1, 2014.
Debt is retired by proceeds from a property tax levy.2,400,000 $
$10,000,000 General Obligation Refunding Bond Series 2005
Dated November 1, 2005 and partially defeased on December 18, 2012.
The remaining debt service is due in one annual installment of $1,275,000
plus interest at 3.75% through December 1, 2013. Debt is retired
by the Special Tax Allocation Fund.1,275,000
$10,000,000 General Obligation Refunding Bond Series 2006A
Dated December 1, 2006. Due in annual installments of $2,350,000 to
$2,650,000 plus interest at 3.75% through December 1, 2018. Debt
is retired by the Special Tax Allocation Fund.10,000,000
$5,000,000 General Obligation Bond Series 2007A
Dated December 15, 2007. Due in annual installments of $475,000 to
$635,000 plus interest at 3.50% to 3.75% through December 1, 2016.
Debt is retired by the Glenview Water Fund and the Glenview Sanitary
Sewer Fund.2,425,000
$1,200,000 General Obligation Bond Series 2007B
Dated December 15, 2007. Due in annual installments of $130,000 to
$135,000 plus interest at 4.80% to 5.00% through December 1, 2016.
Debt is retired by the North Maine Water and Sewer Fund.525,000
$26,300,000 General Obligation Bond Taxable Series 2009A
Dated May 5, 2009. Due in annual installments of $460,000 to $1,860,000
plus interest at 3.00% to 4.125% through December 1, 2029. Debt
is retired by proceeds from a Library property tax levy.23,775,000
$11,290,000 General Obligation Refunding Series 2009D
Dated October 21, 2009. Due in annual installments of $385,000 to
$1,640,000 plus interest at 2.0% to 4.0% through December 1, 2018.
Debt is retired by the Special Tax Allocation Fund.7,220,000
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
65
Note 7. Long-Term Debt (Continued)
General Long-Term Debt (Continued)
Remaining Balance
$28,125,000 General Obligation Bond Series 2009E
Dated October 21, 2009. Due in one installment of $28,125,000 on
December 1, 2013, plus interest at 2.0% to 4.0%. Debt is
retired by the Special Tax Allocation Fund.28,125,000 $
$18,090,000 General Obligation Refunding Bond Series 2012A
Dated June 14, 2012. Due in annual installments of $5,850,000 to
$6,210,000 plus interest at 3.0% to 4.0% through December 1, 2021.
Debt is retired by the Special Tax Allocation Fund.18,090,000
$14,575,000 General Obligation Refunding Bond Series 2012B
Dated December 18, 2012. Due in annual installments of $1,200,000
to $1,750,000 plus interest at 3.0% to 4.0% through December 1, 2024.
Debt is retired by proceeds from a property tax levy.14,575,000
$7,730,000 General Obligation Refunding Bond Series 2012C
Dated December 18, 2012. Due in annual installments of $1,365,000 to
$1,735,000 plus interest at 2.0% to 3.0% through December 1, 2018.
Debt is retired by the Special Tax Allocation Fund.7,730,000
At December 31, 2012, notes payable is comprised of the following:
$2,850,000 Corporate Purpose Notes Series 1997
Dated September 2, 1997. Due in annual installments of $215,377 including
interest of 4.942% through September 1, 2019. Debt is retired by
the North Maine Water and Sewer Fund.1,248,854
Total general obligation bonded debt117,388,854 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
66
Note 7. Long-Term Debt (Continued)
Advance Refunding
On June 14, 2012, the Village issued $18,090,000 in general obligation refunding bonds, Series 2012A,
with a varying interest rate of 3.0 to 4.0 percent in order to advance refund $18,300,000 of outstanding
general obligation bonds, Series 2004A, with an average interest rate of 4.0 percent. The net proceeds of
$19,508,726 (includes premium of $1,852,772 less issuance costs of $434,047) were deposited in an
irrevocable trust with an escrow agent.
On December 18, 2012 the Village issued $14,575,000 in general obligation refunding bonds, Series
2012B, with varying interest rates of 3.0 to 4.0 percent in order to advance refund $15,600,000 of
outstanding general obligation bonds, Series 2004B, with an average interest rate of 4.3 percent. The net
proceeds of $16,882,653 (including premium of $2,455,059, less issuance costs of $147,406) were
deposited in an irrevocable trust with an escrow agent.
On December 18, 2012 the Village issued $7,730,000 in general obligation refunding bonds, Series
2012C, with varying interest rates of 2.0 to 3.0 percent in order to advance refund $8,000,000 of
outstanding general obligation bonds, Series 2005, with an average interest rate of 3.75 percent. The net
proceeds of $8,287,505 (including premium of $620,711, less issuance costs of $63,206) were deposited
in an irrevocable trust with an escrow agent.
As a result, the Series 2004A, 2004B and 2005 bonds are considered to be defeased and the liability for
those bonds has been removed from the Statement of Net Position. The Village defeased the Series
2004A bonds in order to defer cash flows to future fiscal years. The Village defeased the Series 2004B
and 2005 bonds in order to take advantage of more favorable interest rates which provide the Village with
cost savings. The Village reduced its total debt service payments for 2004B and 2005 over the next 12
years by approximately $2,764,534 and achieved an economic gain of approximately $2,531,333
(difference between the net present value of the debt service payments on the old and the new debt).
Debt Service Requirements to Maturity
Governmental Activity
Annual general obligation bond debt service requirements to maturity for the Village’s governmental
activities are as follows:
Fiscal Year Ending
December 31,PrincipalInterest
201330,960,000 $ 2,737,020 $
20143,970,000 2,009,900
20156,360,000 1,899,100
20166,600,000 1,693,076
20176,855,000 1,464,250
2018-202231,230,000 3,605,426
2023-20243,440,000 172,600
Totals89,415,000 $ 13,581,372 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
67
Note 7. Long-Term Debt (Continued)
Debt Service Requirements to Maturity (continued)
Business-type Activity
Annual general obligation bond and corporate purpose notes payable debt service requirements to
maturity for the Village's business-type activities are as follows:
Year Ending
December 31,PrincipalInterestPrincipalInterest
2012710,000 $ 112,446 $ 153,655 $ 61,722 $
2013730,000 85,708 161,249 54,128
2014745,000 58,272 169,219 46,158
2015765,000 30,312 177,582 37,795
2016- - 186,359 29,018
2017-2019- - 400,790 29,951
Totals2,950,000 $ 286,738 $ 1,248,854 $ 258,772 $
General Obligation BondsCorporate Purpose Notes
Component Unit – Glenview Library
Annual general obligation bond debt service requirements to maturity for the Village's component unit are
as follows:
Year Ending
December 31,PrincipalInterest
20131,070,000 $ 878,831 $
20141,095,000 846,731
20151,125,000 813,881
20161,155,000 780,131
20171,190,000 745,481
2018-20226,575,000 3,065,055
2023-20277,920,000 1,723,930
2028-20293,645,000 227,081
Totals23,775,000 $ 9,081,121 $
Noncommitment Debt – Special Service Area Bonds
The special service area bonds outstanding as of December 31, 2012 totaled $417,996. These bonds
are not an obligation of the Village and are secured by the levy of special debt service on the real
property within each special service area. The Village is in no way liable for repayment, but is only acting
as the agent for the property owners in levying and collecting the assessments and forwarding the
collections to the bondholders.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
68
Note 7. Long-Term Debt (Continued)
Compensated Absences and Other Postemployment Benefits
The General Fund is used to liquidate any liability for compensated absences or other postemployment
benefits of governmental activities.
Revolving Line of Credit
The Village has available a $15,000,000 line of credit with Glenview State Bank which expires on
October 31, 2013. The line of credit was not used during 2012, and there was no outstanding balance as
of December 31, 2012.
Note 8. Interfund Balances and Transfers
Interfund Balances
The outstanding balances between funds result mainly from the time lag between the dates that (1)
interfund goods and services are provided or reimbursable expenditures occur, (2) transactions are
recorded in the accounting system, and (3) payments between funds are made. Interfund balances are
intended to be repaid currently from other resources of respective funds. Individual interfund balances at
December 31, 2012 are shown as follows:
Due to/from Other Funds
Due From/To
Receivable FundPayable FundOther Funds
Nonmajor Governmental FundsGeneral Fund9,675 $
Pension Trust FundsGeneral Fund23,114
Total 32,789 $
Advances to/from Other Funds
Advance From/To
Advance FromAdvance ToOther Funds
Special Tax Allocation FundVillage Permanent Fund15,214,941 $
North Maine Water and Sewer FundVillage Permanent Fund3,211,647
Fiduciary FundVillage Permanent Fund10,413
Total 18,437,001 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
69
Note 8. Interfund Balances and Transfers (Continued)
Interfund Transfers
Transfers are used to (1) move revenues from the fund with collection authorization to the capital project
fund or enterprise fund as debt service and interest payments become due, or (2) move restricted general
fund revenues to finance various programs that the government must account for in other funds in
accordance with budgetary authorization. Interfund transfers are recorded for permanent transfers
between funds which are not expected to be repaid. Individual interfund transfers during the fiscal year
ended December 31, 2012 were as follows:
Primary Government
Transfers InTransfers OutAmount
GeneralSpecial Tax Allocation273,379 $
GeneralNonmajor Enterprise300,000
GeneralNorth Maine Water and Sewer135,651
Nonmajor GovernmentalGeneral4,837,317
Nonmajor GovernmentalVillage Permanent269,204
Nonmajor GovernmentalNonmajor Enterprise465,920
Glenview Sanitary SewerVillage Permanent74,555
Internal ServiceGeneral248,378
6,604,404 $
Component Unit
Component Unit
Transfers InTransfers OutAmount
Library New BuildingLibrary Watson Gift65,154 $
Library Debt ServiceLirbary Operating488,795
553,949 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
70
Note 9. Contractual Commitments
High-Level Excess Liability Pool (HELP)
The Village is a member of a joint venture, the High-Level Excess Liability Pool (HELP). The contract
with HELP provides excess liability insurance (see Note 10).
Solid Waste Agency of Northern Cook County (SWANCC)
The Village is a member of a joint venture, the Solid Waste Agency of Northern Cook County (SWANCC)
The contract with SWANCC provides that each member is liable for its proportionate share of any costs
arising from defaults in payment obligations by other members (see Note 10).
Economic Development Agreement
In 2000, the Village entered into an economic development agreement with a local retailer who wished to
relocate its operations to the Village. Under the terms of the agreement, the Village will rebate a portion of
local sales tax receipts generated by the retailer over a base amount. The agreement is contingent on the
retailer maintaining their facility within the Village for a period of at least fifteen years from the effective
date of the agreement. In fiscal year 2012, the Village made payments to the retailer totaling $1,225,662
in accordance with the terms of this agreement.
Construction Commitments
The Village has certain contracts in various funds for construction projects which were in progress at
December 31, 2012. Remaining commitments under these contracts approximated $3,000.
Note 10. Joint Ventures
High-Level Excess Liability Pool (HELP)
The Village has committed to purchase excess liability insurance from the High-Level Excess Liability
Pool (HELP). The amount owed has been calculated using the Village's current allocation percentage of
9.51%. In future years, this allocation percentage will be subject to change because the HELP agreement
provides that each member will be assessed an amount based upon a formula that uses the following
criteria for allocating premium costs.
- Miles of streets - Number of motor vehicles
- Number of full-time equivalent employees - Operating revenues
The Village's agreement with HELP also provides that each member is liable for its proportionate share of
any costs arising from defaults in payment obligations by other members. (See Note 6 for more detail
regarding HELP.)
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
71
Note 10. Joint Ventures (Continued)
Solid Waste Agency of Northern Cook County
The Village is a member of Solid Waste Agency of Northern Cook County (SWANCC), which consists of
twenty-three municipalities. SWANCC is a municipal corporation and public body politic established
pursuant to the Constitution of the State of Illinois and the Intergovernmental Cooperation Act of the State
of Illinois, as amended, (the Act). SWANCC is empowered under the Act to plan, construct, finance,
operate, and maintain a solid waste disposal system to serve its members.
The members form a contiguous geographic service area, which is located northwest of downtown
Chicago. Under the SWANCC Agreement, additional members may join SWANCC upon the approval of
each member.
SWANCC is governed by a Board of Directors, which consists of one appointed Mayor or President from
each member municipality. Each Director has an equal vote. The seven-member Executive Committee of
SWANCC is elected by the Board of Directors. The Board of Directors determines the general policy of
SWANCC, makes all appropriations, approves contracts, adopts resolutions providing for the issuance of
bonds or notes by SWANCC, adopts by-laws, rules and regulations, and exercises such powers and
performs such duties as may be prescribed in the agreement or the by-laws.
In accordance with the joint venture agreement, the Village remitted $544,367 to SWANCC for the year
ended December 31, 2012. The payments are recorded in the General Fund. The Village does not have
an equity interest in SWANCC at December 31, 2012.
Complete financial statements for SWANCC can be obtained from SWANCC's administrative office at
2700 Patriot Boulevard, Suite 110, Glenview, Illinois 60026, or from SWANCC's web site,
www.swancc.org.
Note 11. Employee Retirement Systems
Illinois Municipal Retirement Fund
Plan Description
The Village's defined benefit pension plan, for regular employees, provides retirement and disability
benefits, postretirement increases, and death benefits to plan members and beneficiaries. The employer
plan is affiliated with the Illinois Municipal Retirement Fund (IMRF), an agent multiple-employer plan.
Benefit provisions are established by statute and may only be changed by the General Assembly of the
State of Illinois. IMRF issues a publicly available financial report that includes financial statements and
required supplementary information. That report may be obtained online at www.imrf.org.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
72
Note 11. Employee Retirement Systems (Continued)
Illinois Municipal Retirement Fund (Continued)
Funding Policy
As set by state statute, the Village's regular plan members are required to contribute 4.50 percent of their
annual covered salary. The statute requires the Village to contribute the amount necessary, in addition to
member contributions, to finance the retirement coverage of its own employees. The Village annual
required contribution rate for calendar year 2012 was 13.67 percent. The Village also contributes for
disability benefits, death benefits, and supplemental retirement benefits, all of which are pooled at the
IMRF level. Contribution rates for disability and death benefits are set by the IMRF Board of Trustees,
while the supplemental retirement benefits rate is set by state statute.
Annual Pension Cost
The Village’s required contribution and annual pension cost for calendar year 2012 was $2,004,351.
Three-Year Trend Information for the Regular Plan – Illinois Municipal Retirement Fund
FiscalAnnualPercentageNet
YearPensionof APCPension
EndingCost (APC)ContributedObligation
12/31/122,004,351 $ 100%-$
12/31/112,073,818 100-
12/31/101,988,818 100-
The required contribution for 2012 was determined as part of the December 31, 2010 actuarial valuation
using the entry age normal actuarial cost method. The actuarial assumptions at December 31, 2010
included (a) 7.5 percent investment rate of return (net of administrative and direct investment expenses),
(b) projected salary increases of 4.0 percent a year, attributable to inflation, (c) additional projected salary
increases ranging from 0.4 percent to 10.0 percent per year depending on age and service, attributable to
seniority/merit, and (d) postretirement benefit increases of 3 percent annually. The actuarial value of the
Village regular plan assets was determined using techniques that spread the effects of short-term
volatility in the market value of investments over a five-year period with a 20 percent corridor between the
actuarial and market value of assets. The employer regular plan's unfunded actuarial accrued liability at
December 31, 2010 is being amortized as a level percentage of projected payroll on an open 30-year
basis.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
73
Note 11. Employee Retirement Systems (Continued)
Illinois Municipal Retirement Fund (Continued)
Funded Status and Funding Progress
As of December 31, 2012, the most recent actuarial valuation date, the regular plan was 65.56 percent
funded. The actuarial accrued liability for benefits was $44,133,853 and the actuarial value of assets was
$28,933,961, resulting in an underfunded actuarial accrued liability (UAAL) of $15,199,892. The covered
payroll for calendar year 2012 (annual payroll of active employees covered by the plan) was $14,662,408,
and the ratio of the UAAL to covered payroll was 104 percent.
The schedule of funding progress, presented as Required Supplementary Information following the notes
to the financial statements, presents multiyear trend information about whether the actuarial value of plan
assets is increasing or decreasing over time relative to the actuarial accrued liability for benefits.
Police Pension Fund
Plan Description
Police-sworn personnel are covered by the Police Pension Plan, which is a defined benefit single-
employer pension plan. Although this is a single-employer pension plan, the defined benefits and
employee and employer contribution levels are governed by Illinois State Statutes and may be amended
only by the Illinois legislature. Administrative costs are financed through investment earnings. The Village
accounts for the plan as a pension trust fund. An actuarial valuation was performed as of December 31,
2012, and, accordingly, the most recent available information has been presented.
At December 31, 2012, the Police Pension Plan membership consisted of:
Membership
Retirees and beneficiaries currently receiving benefits 45
Terminated employees entitled to benefits but not yet receiving them-
Current employees:
Vested 59
Nonvested 13
Total membership 117
The following is a summary of the Police Pension Plan as provided for in Illinois State Statutes. The
Police Pension Plan provides retirement benefits as well as death and disability benefits. Covered
employees attaining the age of 50 or more with 20 or more years of creditable service are entitled to
receive an annual retirement benefit equal to one half of the salary attached to the rank held on the last
day of service, or for one year prior to the last day, whichever is greater. The annual benefit shall be
increased by 2.5% of such salary for each additional year of service over 20 years up to 30 years, and
1% of such salary for each additional year of service over 30 years, 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.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
74
Note 11. Employee Retirement Systems (Continued)
Police Pension Fund (Continued)
Plan Description (Continued)
The monthly benefit of a police officer who retired with 20 or more years of service after January 1, 1977
shall be increased annually following the first anniversary date of retirement, and be paid upon reaching
the age of at least 55 years, by 3% of the original pension and 3% simple interest annually thereafter.
Effective January 1, 1993, the second and subsequent pension increases (other than disability pension
increases) will be computed on the current pension rather than the original pension.
Funding Policy
State-mandated police employees are required to contribute 9.91% of their base salary to the plan. If an
employee leaves covered employment with less than 20 years of service, accumulated employee
contributions may be refunded without accumulated interest. The Village is required to contribute the
remaining amounts necessary to finance the plan as actuarially determined by an enrolled actuary. By the
year 2033, the Village's contributions must accumulate to the point where the past service cost for the
plan is fully funded. This calculation is based upon a level percent amortization for a closed period.
Summary of Significant Accounting Policies
Basis of Accounting
The financial statements are prepared using the accrual basis of accounting. Employee and employer
contributions are recognized as revenues in the period in which employee services are performed.
Benefits and refunds are recognized when due and payable in accordance with the terms of the plan. No
stand-alone statements are issued for the defined benefit pension plan.
Method Used to Value Investments
Investments are reported at fair value. Short-term investments are reported at cost, which approximates
fair value. Securities traded on a national or international exchange are valued at the last reported sales
price at current exchange rates. Investments that do not have an established market are reported at
estimated fair value.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
75
Note 11. Employee Retirement Systems (Continued)
Police Pension Fund (Continued)
Methods and Assumptions
Valuation date January 1, 2012
Actuarial cost method Projected Unit Credit (Effective 1/1/2011)
Actuarial value of assets Smoothed Market Value
Amortization method Level Percentage of Payroll Closed
Remaining amortization period 21.5 Years
Actuarial assumptions:
Investment rate of return 7.25% per year
Projected salary increases TCG Basic Salary Table providing graded
increases from 1.12% to 4.86% varying
by age, plus inflation rate shown below
Payroll growth 4.5% per year
Inflation rate 2.5% per year
Cost of living increases 3.0% per year
Assumed mortality RP-2000 Combined Healthy Mortality Table
(male) with blue collar adjustment and with
a 200% load for participants under age 50
and 125% for participants age 50 and over.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
76
Note 11. Employee Retirement Systems (Continued)
Police Pension Fund (Continued)
Funding Status and Funding Progress
Valuation date January 1, 2012
Percent funded 85.12%
Actuarial accrued liability for benefits $ 63,376,050
Actuarial value of assets $ 53,944,719
Unfunded actuarial
accrued liability (UAAL) $ 9,431,331
Covered payroll (annual payroll of
active employees covered by
the Plan $ 6,740,053
Ratio of UAAL covered payroll 139.93%
The schedule of funding progress presented in the Required Supplementary Information (RSI) following
the notes the financial statements, presents multiyear trend information about whether the actuarial value
of plan assets are increasing or decreasing over time relative to the actuarial accrued liability for benefits.
Significant Investments
Information on significant investments is presented in Note 2 under “Concentration of Credit Risk.”
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
77
Note 11. Employee Retirement Systems (Continued)
Police Pension Fund (Continued)
Annual Pension Cost and Net Pension Benefit
The Village's most recent actuarial valuation was performed as of January 1, 2012 for fiscal year ending
December 31, 2012. The Village's annual pension cost and net pension benefit to the Police Pension
Fund were as follows:
Annual required contribution1,812,556 $
Interest on net pension obligation(74,779)
Adjustment to annual required contribution70,173
Annual pension cost 1,807,950
Contributions made 1,812,692
Increase in net pension asset4,742
Net pension asset at January 1, 20121,437,391
Net pension asset at December 31, 20121,442,133 $
Trend Information
Three-Year Trend Information – Police Pension Trust Fund
FiscalAnnual Percentage
YearPensionActualof APCNet Pension
EndingCost (APC)ContributionContributedAsset
12/31/121,807,950 $ 1,812,692 $ 100.26%1,442,133 $
12/31/111,342,278 1,767,986 131.721,437,391
12/31/101,340,760 1,802,629 134.451,011,683
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
78
Note 11. Employee Retirement Systems (Continued)
Firefighters’ Pension Fund
Plan Description
Sworn firefighter personnel are covered by the Firefighters' Pension Plan, which is a defined benefit
single-employer pension plan. Although this is a single-employer pension plan, the defined benefits and
employee and employer contribution levels are governed by Illinois State Statutes and may be amended
only by the Illinois legislature. Administrative costs are financed through investment earnings. The Village
accounts for the plan as a pension trust fund. The Village's most recent actuarial valuation was performed
as of December 31, 2012, and, accordingly, the most recent available information has been presented.
At December 31, 2012, the Firefighters' Pension Plan membership consisted of:
Membership
Retirees and beneficiaries currently receiving benefits 77
Terminated employees entitled to benefits but not yet receiving them-
Current employees:
Vested 56
Nonvested 26
Total membership 159
The following is a summary of the Firefighters' Pension Plan as provided for in Illinois State Statutes. The
Firefighters' Pension Plan provides retirement benefits as well as death and disability benefits. Covered
employees attaining the age of 50 or more with 20 or more years of creditable service are entitled to
receive an annual retirement benefit equal to one half of the salary attached to the rank held on the last
day of service, or for one year prior to the last day, whichever is greater. The annual benefit shall be
increased by 2.5% of such salary for each additional year of service over 20 years up to 30 years, and
1% of such salary for each additional year of service over 30 years, 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.
The monthly benefit of a Firefighters' officer who retired with 20 or more years of service after January 1,
1977 shall be increased annually following the first anniversary date of retirement, and be paid upon
reaching the age of at least 55 years, by 3% of the original pension and 3% simple interest annually
thereafter. Effective January 1, 1993, the second and subsequent pension increases (other than disability
pension increases) will be computed on the current pension rather than the original pension.
Covered firefighter employees are required to contribute 9.455% of their base salary to the plan. If an
employee leaves covered employment with less than 20 years of service, accumulated employee
contributions may be refunded without accumulated interest. The Village is required to contribute the
remaining amounts necessary to finance the plan as actuarially determined by an enrolled actuary. By the
year 2033, the Village's contributions must accumulate to the point where the past service cost for the
plan is fully funded. This calculation is based upon a level percent amortization for a closed period.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
79
Note 11. Employee Retirement Systems (Continued)
Firefighters’ Pension Fund (Continued)
Summary of Significant Accounting Policies
Basis of Accounting
The financial statements are prepared using the accrual basis of accounting. Employee and employer
contributions are recognized as revenues in the period in which employee services are performed.
Benefits and refunds are recognized when due and payable in accordance with the terms of the plan. No
stand-alone statements are issued for the defined benefit pension plan.
Method Used to Value Investments
Investments are reported at fair value. Short-term investments are reported at cost, which approximates
fair value. Securities traded on a national or international exchange are valued at the last reported sales
price at current exchange rates. Investments that do not have an established market are reported at
estimated fair value.
Methods and Assumptions
Valuation date
January 1, 2012
Actuarial cost method
Projected Unit Credit (Effective 1/1/2011)
Actuarial value of assets
Smoothed Market Value
Amortization method
Level Percentage of Payroll Closed
Remaining amortization period
21.5 Years
Actuarial assumptions:
Investment rate of return
7.25% per year
Projected salary increases
(seniority and merit)
TCG Basic Salary Table providing graded
increases from 1.12% to 4.86% varying by
age, plus inflation rate shown below
Payroll growth
4.5% per year
Inflation rate
2.5% per year
Cost of living increases
3.0% per year
Assumed mortality
RP-2000 Combined Healthy Mortality Table
(male) with blue collar adjustment and with a
200% load for participants under age 50 and
125% for participants age 50 and over.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
80
Note 11. Employee Retirement Systems (Continued)
Firefighters’ Pension Fund (Continued)
Funding Status and Funding Progress
Valuation date
January 1, 2012
Percent funded
67.24%
Actuarial accrued liability for benefits
$ 79,294,776
Actuarial value of assets
$ 53,317,305
Unfunded actuarial
accrued liability (UAAL)
$ 25,977,471
Covered payroll (annual payroll of
active employees covered by
the Plan
$ 7,639,169
Ratio of UAAL Covered Payroll
340.06%
The schedule of funding progress presented in the Required Supplementary Information (RSI) following
the notes the financial statements, presents multiyear trend information about whether the actuarial value
of plan assets are increasing or decreasing over time relative to the actuarial accrued liability for benefits.
Significant Investments
Information on significant investments is presented in Note 2 under “Concentration of Credit Risk.”
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
81
Note 11. Employee Retirement Systems (Continued)
Firefighters’ Pension Fund (Continued)
Annual Pension Cost and Net Pension Benefit
The Village's most recent actuarial valuation was performed as of December 31, 2012. The Village's
annual pension cost and net pension benefit to the Firefighters' Pension Fund were as follows:
Annual required contribution2,985,212 $
Interest on net pension obligation(61,684)
Adjustment to annual required contribution57,884
Annual pension cost 2,981,412
Contributions made 2,926,010
Decrease in net pension asset(55,402)
Net pension asset at January 1, 20121,638,671
Net pension asset at December 31, 20121,583,269 $
Trend Information
Three-Year Trend Information - Firefighters' Pension Trust Fund
FiscalAnnual Percentage
YearPensionActualof APCNet Pension
EndingCost (APC)ContributionContributedAsset
12/31/122,981,412 $ 2,926,010 $ 98.14%1,583,269 $
12/31/112,165,041 2,806,961 129.651,638,671
12/31/102,159,245 2,541,870 102.31996,751
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
82
Note 12. Other Postemployment Benefits (OPEB)
Plan Description
The Village provides postemployment health care and life insurance benefits (OPEB) for retired
employees through a single-employer defined benefit plan. The benefits, benefit levels, employee
contributions, and employer contributions are governed by the Village and can be amended by the Village
through its personnel manual and union contracts. The plan is not accounted for as a trust fund, as an
irrevocable trust has not been established to account for the plan. The plan does not issue a separate
report.
To be eligible for benefits under the plan, an employee must qualify for retirement under one of the
Village's retirement plans. Elected officials are eligible for benefits if they qualify for retirement through the
Illinois Municipal Retirement Fund.
All health care benefits are provided through the Village's self-insured health plan. The benefit levels are
the same as those afforded to active employees. Benefits include general inpatient and outpatient
medical services; mental, nervous, and substance abuse care; vision care; dental care; and prescriptions.
Upon a retiree reaching Medicare eligible age, Medicare becomes the primary insurer and the Village's
plan becomes secondary.
At December 31, 2012, membership in the Plan consisted of the following:
Membership
Retirees and beneficiaries receiving benefits64
Terminated employees entitled to but not yet receiving benefits-
Active vested plan members 207
Active nonvested plan members87
Total membership 358
Funding Policy
The Village negotiates the contribution percentages between the Village and employees through the
union contracts and personnel policy. All retirees contribute 100% of the actuarially determined premium
to the plan and the Village contributes the remainder to cover the cost of providing the benefits to the
retirees via the self-insurance plan (pay-as-you-go). Since the Village is self-insured, this amount
fluctuates on an annual basis. Active employees do not contribute to the plan until retirement.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
83
Note 12. Other Postemployment Benefits (OPEB) (Continued)
Annual OPEB Cost and Net OPEB Obligation
The Village's most recent actuarial valuation was performed for the plan as of December 31, 2012. The
Village's annual other postemployment benefit (OPEB) cost is calculated based on the annual required
contribution (ARC) of the employer. The contribution represents a level of funding that, if paid on an
ongoing basis, is projected to cover the normal cost each year and to amortize any unfunded actuarial
liabilities or funding excess over a period not to exceed thirty years. The following table shows the
components of the Village's annual OPEB cost for the year, the amount actually contributed to the plan,
and changes in the Village's net OPEB obligation for retired employees as of December 31, 2012.
Annual required contribution563,685 $
Interest on net pension obligation45,844
Adjustment to annual required contribution(30,563)
Annual OPEB cost 578,966
Contributions made 341,366
Increase in net OPEB Obligation237,600
Net OPEB obligation at January 1, 2012916,878
Net OPEB obligation at December 31, 20121,154,478 $
Trend Information
The Village's annual OPEB Cost, the percentage of annual OPEB cost contributed to the Plan, and the
net OPEB obligation for fiscal year 2012 is as follows:
FiscalAnnualPercentageNet
YearOPEBof OPEBOPEB
EndingCostContributedObligation
12/31/12578,966 $ 59.00%1,154,478 $
12/31/11571,999 59.70916,878
12/31/10568,219 60.10686,245
Funding Policy and Actuarial Assumptions
Actuarial valuations of an ongoing plan involve estimates of the value of reported amounts and
assumptions about the probability of occurrence of events far into the future. Examples include
assumptions about future employment, mortality, and the healthcare cost trend. Amounts determined
regarding the funded status of the Plan and the annual required contributions of the employer are subject
to continual revision as actual results are compared with past expectations and new estimates are made
about the future.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
84
Note 12. Other Postemployment Benefits (OPEB) (Continued)
Funding Policy and Actuarial Assumptions (continued)
Projections of benefits for financial reporting purposes are based on the substantive plan (the plan as
understood by the employer and the plan members) and include the types of benefits provided at the time
of each valuation and the historical pattern of sharing of benefit costs between the employer and the plan
members to that point. The actuarial methods and assumptions used include techniques that are
designed to reduce the effects of short-term volatility in actuarial accrued liabilities and the actuarial value
of assets, consistent with the long-term perspective of the calculations.
The following simplifying assumptions were made:
Contribution rates:
Village
Plan members
1.17%
Actuarial valuation date
December 31, 2011
Actuarial cost method
Entry Age
Amortization period
Level percentage of pay, open
Amortization period
30 years
Asset valuation method
Market
Actuarial assumptions:
Investment rate of return*
Projected salary increases
Healthcare inflation rate
5.00%
5.00%
8.00% initial
6.00% ultimate
Mortality, Turnover, Disability,
Retirement ages
Same rates utilized for IMRF, Police and
Firefighter Pension Funds
Percentage of active employees
Assumed to elect benefit
75%
Employer provided benefit
Explicit (eligible disabled pensioners): 100% of
premium for life
Implicit: 40% of premium to age 65 (50% of
$620/mo + 50% of $1,235/mo)
*Includes inflation at 3.00%
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
85
Note 12. Other Postemployment Benefits (OPEB) (Continued)
Funding Status and Funding Progress
The funded status of the plan as of December 31, 2011, the date of the latest valuation, was as follows:
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%
The schedule of funding progress presented in the Required Supplementary Information (RSI) following
the notes to the financial statements, presents multiyear trend information about whether the actuarial
value of plan assets is increasing or decreasing over time relative to the actuarial accrued liability for
benefits.
Note 13. Pension Trust Funds – Financial Data
Schedule of Fiduciary Net Plan Position as of December 31, 2012
Total
PoliceFirefighters'Pension
PensionPensionTrust
FundFundFunds
Assets
Cash and cash equivalents2,646,456 $ 408,612 $ 3,055,068 $
Investments
U.S. government and agency obligations27,763,811 23,296,069 51,059,880
Municipal obligations196,048 2,479,864 2,675,912
Corporate obligations2,040,756 - 2,040,756
Equity mutual funds23,618,884 28,876,148 52,495,032
Accrued interest receivable111,144 121,045 232,189
Due from other funds8,559 14,555 23,114
Prepaid expenses- 1,962 1,962
Total assets56,385,658 55,198,255 111,583,913
Liabilities
Accrued expenses14,333 1,688 16,021
Net Position
Held in trust for pension benefits56,371,325 $ 55,196,567 $ 111,567,892 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
86
Note 13. Pension Trust Funds – Financial Data (Continued)
Schedule of Changes in Fiduciary Net Plan Position as of December 31, 2012
Total
PoliceFirefighters'Pension
PensionPensionTrust
FundFundFunds
Additions
Contributions
Employer1,812,692 $ 2,926,010 $ 4,738,702 $
Participant663,702 723,089 1,386,791
Total contributions2,476,394 3,649,099 6,125,493
Investment income
Net appreciation in fair value
of investments2,480,278 3,733,431 6,213,709
Interest income1,406,963 1,492,527 2,899,490
Less investment expense(88,696) (138,318) (227,014)
Net investment income3,798,545 5,087,640 8,886,185
Total additions6,274,939 8,736,739 15,011,678
Deductions
Retirement pensions2,300,198 3,706,420 6,006,618
Widow pensions246,438 265,329 511,767
Disability pensions48,593 455,103 503,696
Total deductions2,595,229 4,426,852 7,022,081
Changes in net position3,679,710 4,309,887 7,989,597
Net position held in trust for pension benefits
Beginning52,691,615 50,886,680 103,578,295
Ending56,371,325 $ 55,196,567 $ 111,567,892 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
87
Note 14. Fund Balance Reporting
As of December 31, 2012, the Village’s fund balances were classified as follows:
General Fund
Special Tax
Allocation
Fund
Village
Permanent
Fund
Nonmajor
Governmental
Funds Totals
Nonspendable:
Prepaids15,000$ 64,508$ -$ -$ 79,508$
Inventory180,280 - - - 180,280
Total Nonspendable195,280 64,508 - - 259,788
Restricted purpose:
Debt Service- - - 139,678 139,678
Public Safety- - - 341,136 341,136
Street Improvements- - - 1,084,042 1,084,042
Economic Development- 3,046,893 - - 3,046,893
Capital Projects- - 30,537,484 10,828,921 41,366,405
Total Restricted- 3,046,893 30,537,484 12,393,777 45,978,154
Total Unassigned25,564,806 - - - 25,564,806
Total Fund Balances25,760,086$ 3,111,401$ 30,537,484$ 12,393,777$ 71,802,748$
Note 15. Contingencies
Grants
Amounts received or receivable from grantor agencies are subject to audit and adjustment by grantor
agencies, principally the federal government. Any disallowed claims, including amounts already collected,
may constitute a liability of the applicable funds. The amount, if any, of expenditures which may be
disallowed by the grantor cannot be determined at this time. The Village believes such amounts, if any, to
be immaterial.
Litigation
The Village has several pending legal proceedings that, in the opinion of management, are ordinary
routine matters incidental to the normal business conducted by the Village. In the opinion of management,
the outcome is neither probable nor estimable, and the ultimate dispositions of such proceedings are not
expected to have a material adverse effect on the Village's net position or activities.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2012
88
Note 16. New Accounting Pronouncements
GASB Statement No. 61, The Financial Reporting Entity: Omnibus—an amendment of GASB Statements
No. 14 and No. 34, will be effective for the Village beginning with its year ending December 31, 2014. The
objective of this Statement is to improve financial reporting for a governmental financial reporting entity.
The requirements of Statement No. 14, The Financial Reporting Entity, and the related financial reporting
requirements of Statement No. 34, Basic Financial Statements—and Management’s Discussion and
Analysis—for State and Local Governments, were amended to better meet user needs and to address
reporting entity issues that have arisen since the issuance of those Statements.
GASB Statement No. 65, Items Previously Recorded as Assets and Liabilities reclassifies, as deferred
outflows of resources or deferred inflows of resources, certain items that were previously reported as
assets and liabilities and recognizes, as outflows of resources (expenses) or inflows of resources
(revenues), items that were previously reported as assets or liabilities. This will be effective for the Village
for the year ending December 31, 2013.
GASB Statement No. 66, Technical Corrections-2012-an amendment of GASB Statements No. 10 and
No 62 resolves conflicting guidance that resulted from the issuance of GASB Statement No. 54, Fund
Balance Reporting and Governmental Fund Type Definitions, and No. 62, Codification of Accounting and
Financial Reporting Guidance Contained in Pre-November 30, 1989 FASB and AICPA Pronouncements.
This Statement removes the provisions that limits fund based reporting of risk financing activities. This
Statement also modifies specific guidance on accounting for certain operating leases and certain loans.
This will be effective for the Village for the year ending December 31, 2013.
GASB Statement No. 67, Financial Reporting for Pension Plans, will be effective for the Village beginning
with its year ended December 31, 2014. This statement builds upon the existing framework for financial
reports of defined benefit pension plans, which includes a statement of fiduciary net position (the amount
held in a trust for paying retirement benefits) and a statement of changes in fiduciary net position. This
statement enhances note disclosures and RSI for both defined benefit and defined contribution pension
plans and requires the presentation of new information about annual money-weighted rates of return in
the notes to the financial statements and in 10-year RSI schedules.
GASB Statement No. 68, Accounting and Financial Reporting for Pensions, will be effective for the Village
beginning with its year ended December 31, 2015. This statement requires governments providing
defined benefit pensions to recognize their long-term obligation for pension benefits as a liability for the
first time, and to more comprehensively and comparably measure the annual costs of pension benefits.
This statement also enhances accountability and transparency through revised and new note disclosures
and required supplementary information (RSI).
Management has not currently determined what impact, if any, these Statements may have on its
financial statements.
REQUIRED SUPPLEMENTARY INFORMATION
(Unaudited)
89
Village of Glenview, Illinois
Required Supplementary Information –
Schedules of Funding Progress
Last Six Fiscal Years
Unfunded
Actuarial(assets in
Actuarial Accruedexcess of)Percentage
ActuarialValue ofLiability (AAL)AALFundedCoveredof Covered
ValuationAssetsEntry Age(UAAL)RatioPayrollPayroll
Date(a)(b)(b-a)(a/b)(c)((b-a)/c)
Illinois Municipal Retirement Fund:
12/31/201228,933,961 $ 44,133,853 $ 15,199,892 $ 65.56%14,662,408 $ 103.67%
12/31/201125,605,004 41,668,646 16,063,642 61.4515,430,197 104.11
12/31/201025,016,549 40,760,603 15,744,054 61.3715,393,325 102.28
12/31/200922,392,299 37,187,807 10,392,189 60.2115,460,203 67.22
12/31/200817,094,534 33,814,187 16,719,653 50.5516,344,000 102.30
12/31/200732,021,095 39,682,349 7,661,254 80.6916,761,580 45.71
On a market value basis, the actuarial value of assets as of December 31, 2012 is $30,434,491. On a market basis, the
funded ratio would be 68.96%.
Police Pension Plan:
1/1/2012*53,944,719 $ 63,376,050 $ 9,431,331 $ 85.12%6,740,053 $ 139.93%
1/1/201153,788,060 59,435,239 5,647,179 90.50 6,603,509 85.52
1/1/201049,768,625 58,424,453 8,655,828 85.186,310,520 137.17
1/1/200946,437,539 55,244,848 8,807,309 84.066,584,950 133.75
1/1/200841,723,979 47,510,348 5,786,369 87.825,853,046 98.86
1/1/200738,840,397 45,524,891 6,684,494 85.32 5,591,810 119.54
Firefighters' Pension Plan:
1/1/2012*53,317,305 $ 79,294,776 $ 25,977,471 $ 67.24%7,639,169 $ 340.06%
1/1/201157,176,567 75,563,246 18,386,679 75.67 7,195,162 255.54
1/1/201054,396,082 73,324,302 18,928,220 74.197,049,374 268.51
1/1/200952,055,144 68,871,887 16,816,743 75.586,589,276 255.21
1/1/200848,536,292 65,958,674 17,422,382 73.596,550,595 265.97
1/1/2007 47,854,287 61,763,243 13,908,956 77.48 6,184,548 224.90
* Most recent actuarial valuation date.
90
Village of Glenview, Illinois
Required Supplementary Information –
Schedules of Funding Progress (Continued)
Last Six Fiscal Years
Unfunded
Actuarial(assets in
Actuarial Accruedexcess of)Percentage
ActuarialValue ofLiability (AAL)AALFundedCoveredof Covered
ValuationAssetsEntry Age(UAAL)RatioPayrollPayroll
Date(a)(b)(b-a)(a/b)(c)((b-a)/c)
Other Postemployment Benefit Plan:
2012*-$ 9,556,094 $ 9,556,094 $ -%29,228,867 $ 32.69%
2011- 9,556,094 9,556,094 - 29,228,867 32.69
2010- 8,695,668 8,695,668 -26,967,070 32.25
2009- 8,695,668 8,695,668 -NANA
2008- NANANANANA
2007 - 12,391,000 12,391,000 - 24,911,602 49.74
The Village implemented GASB Statement No. 45 for the fiscal year ended December 31, 2007. Information for prior
years is not available.
* Results from prior year.
91
Village of Glenview, Illinois
Required Supplementary Information
Schedules of Employer Contributions
Last Six Fiscal Years
Police Pension Plan
Annual
FiscalEmployer RequiredPercentage
YearContributionsContributionContributed
20121,812,692 $ 1,812,556 $ 100.01%
20111,767,986 1,347,587 131.20
20101,802,629 1,370,885 131.49
2009 1,168,933 933,477 125.22
20081,393,628 1,081,786 128.83
20071,157,437 918,552 126.01
Firefighters' Pension Plan
Annual
FiscalEmployer RequiredPercentage
YearContributionsContributionContributed
20122,926,010 $ 2,985,212 $ 98.02%
20112,806,961 2,160,105 129.95
20102,541,870 1,941,060 130.95
2009 1,985,871 1,987,548 99.92
20081,805,026 1,712,540 105.40
20071,416,463 1,556,654 90.99
92
Village of Glenview, Illinois
General Fund
For the Year Ended December 31, 2012
OriginalFinalActual Variance
Revenues
Taxes
Property10,853,538 $ 10,853,538 $ 10,992,046 $ 138,508 $
Other13,423,046 13,423,046 13,495,498 72,452
Licenses and permits2,014,000 2,014,000 1,923,238 (90,762)
Charges for services5,323,231 5,992,677 6,346,445 353,768
Fines and forfeitures122,806 122,806 224,198 101,392
Intergovernmental21,516,245 21,516,245 22,211,809 695,564
Investment income84,000 84,000 115,402 31,402
Other revenues- - 28,674 28,674
Total revenues53,336,866 54,006,312 55,337,310 1,330,998
Expenditures
Current
General government14,912,500 15,033,497 15,147,824 (114,327)
Public works7,654,984 7,859,228 7,036,995 822,233
Public safety26,124,568 26,286,795 26,266,737 20,058
Development900,598 1,013,190 967,029 46,161
Total expenditures49,592,650 50,192,710 49,418,585 774,125
Excess of revenues
over expenditures3,744,216 3,813,602 5,918,725 2,105,123
Other financing sources (uses)
Transfers in709,030 709,030 709,030 -
Transfers out(4,468,426) (5,066,804) (5,085,695) (18,891)
Total other financing
sources (uses)(3,759,396) (4,357,774) (4,376,665) (18,891)
Net change in fund balance(15,180) $ (544,172) $ 1,542,060 2,086,232 $
Fund balance – beginning of year24,218,026
Fund balance – end of year25,760,086 $
Required Supplementary Information
Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual
Budget
93
Village of Glenview, Illinois
Special Tax Allocation Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual
For the Year Ended December 31, 2012
OriginalFinalActual Variance
Revenues
Taxes
Property27,200,000 $ 27,200,000 $ 26,283,659 $ (916,341) $
Charges for services14,180 14,180 17,180 3,000
Intergovernmental- - 143,182 143,182
Investment income25,000 25,000 133,801 108,801
Total revenues27,239,180 27,239,180 26,577,822 (661,358)
Expenditures
General government20,435,458 20,435,458 23,263,828 (2,828,370)
Debt service
Bond issuance costs- - 92,160 (92,160)
Principal9,170,000 9,170,000 7,045,000 2,125,000
Interest and fiscal charges2,518,300 2,518,300 2,460,539 57,761
Total expenditures32,123,758 32,123,758 32,861,527 (737,769)
Deficiency of revenues
over expenditures(4,884,578) (4,884,578) (6,283,705) (1,399,127)
Other financing sources (uses)
Payment to bond escrow agent- - (27,796,231) (27,796,231)
Proceeds from bond issuance- - 25,820,000 25,820,000
Premium on bond issuance- - 2,075,642 2,075,642
(273,379) (273,379) (273,379) -
Total other financing sources (uses)(273,379) (273,379) (173,968) 99,411
Net change in fund balance(5,157,957) $ (5,157,957) $ (6,457,673) (1,299,716) $
Fund balance – beginning of year9,569,074
Fund balance – end of year3,111,401 $
Required Supplementary Information
Transfers out
Budget
Village of Glenview, Illinois
Required Supplementary Information (Unaudited)
Notes to Required Supplementary Information
December 31, 2012
94
Note 1. Legal Compliance – Budgets
A. Budgets
The Village follows the budget act and implements the following procedures noted below in establishing
the budgetary data reflected in the financial statements.
1. All departments of the Village submit requests for budget to the Village's manager so that a
budget may be prepared. The budget is prepared by fund and includes information on the past
year, current estimates, and requested budgets for the next fiscal year.
2. The proposed budget is presented to the governing body, the Village Board, for review. The
Village Board holds public hearings and may add to, subtract from, or change budgets, but may
not change the form of the budget.
3. The budget is legally enacted by the Board of Trustees.
4. The Village Manager is authorized to transfer budgeted amounts between departments within any
fund; however, any revisions that alter the total expenditures/expenses of any fund must be
approved by the Village Board.
5. The level of control (the level at which expenditures may not exceed the budget) is at the fund
level. Expenditures may not legally exceed budgets at the fund level. The Village adopted the
budget on December 20, 2012 and amended the budget at various times throughout the year.
Budgets are generally adopted on a basis consistent with generally accepted accounting principles.
Annual budgets are adopted for the General Fund, special revenue funds, debt service funds, and the
capital project funds on the modified accrual basis. The enterprise, internal service, and pension trust
funds on the accrual basis, except principal expense and capital expenditures are budgeted, and
depreciation expense is not budgeted. All annual budgets lapse at the end of the fiscal year.
B. Excess of Actual Expenditures/Expenses over Budget in Individual Funds
The following funds had an excess of actual expenditures and transfers out over final budget:
FundExcess
Special Tax Allocation737,769 $
Corporate Purpose Debt Service46,883
Capital Equipment Replacement54,861
Police Pension193,214
Firefighters' Pension174,980
SUPPLEMENTAL INFORMATION
GOVERNMENTAL FUND DESCRIPTIONS
MAJOR FUNDS
Note that summaries of the General Fund and the major special revenue funds are provided in the
required supplementary information section. The details for all major funds are presented first in the
Supplemental Information section due to their materiality.
General Fund - a governmental fund used to account for the acquisition and use of resources which are
not accounted for in other fund types.
Special Tax Allocation Fund - a special revenue fund used to account for the incremental property tax
revenue that is generated through the growth of the assessed valuation at The Glen, (formerly referred to
as Glenview Naval Air Station) and the 'Make-Whole' payments to core jurisdictions within the boundaries
of the Tax Increment 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 component unit of the
Village. This fund also accounts for the service and incentive fees within the Tax Increment District.
Village Permanent Fund - a capital projects fund used to accumulate and account for a specific portion
of the land sales proceeds of The Glen. Twenty percent of the land sale revenues are restricted for
capital expenditures throughout the Village (outside of the Glen). Additionally, Permanent Fund assets
can be loaned for short-term liquidity to other Village funds as a result of exhaustion of cash reserves.
95
OriginalFinalActual
Local taxes
Property taxes for Village
Current year2,555,017 $ 2,555,017 $ 2,671,455 $
Prior year60,000 60,000 (24,317)
Property taxes - debt service
Current year1,968,426 1,968,426 2,033,455
Prior year- - (3,047)
Property taxes - police and firefighters' pensions4,630,270 4,630,270 4,738,673
Property taxes - other Village pensions1,639,825 1,639,825 1,575,827
Total property taxes10,853,538 10,853,538 10,992,046
Other taxes
Utility taxes
Natural gas1,377,000 1,377,000 989,489
Electricity2,223,600 2,223,600 2,188,440
Telecommunications2,547,946 2,547,946 2,771,970
Hotel room tax800,000 800,000 739,047
Amusement tax80,000 80,000 94,925
Home rule sales tax6,394,500 6,394,500 6,709,580
Miscellaneous taxes- - 2,047
Total other taxes13,423,046 13,423,046 13,495,498
Total local taxes24,276,584 24,276,584 24,487,544
Licenses and permits
Business licenses110,000 110,000 81,465
Liquor licenses210,000 210,000 177,526
Building permits1,625,000 1,625,000 1,516,570
Contractors' fees50,000 50,000 36,108
Engineering fees- - 77,131
Oversized vehicle permits8,000 8,000 10,840
Plan fees11,000 11,000 23,598
Total licenses and permits2,014,000 2,014,000 1,923,238
(Continued)
Village of Glenview, Illinois
General Fund
Schedule of Detailed Revenues and Other Financing Sources - Budget and Actual
For the Year Ended December 31, 2012
Budget
96
OriginalFinalActual
Fees, fines, and service charges
Charges for services
Dog impound fees2,000 $ 2,000 $ 2,765 $
Lease fees759,153 759,153 603,646
Natural gas franchise fees56,907 56,907 45,562
Cable franchise fees525,000 525,000 635,035
Bidder fees15,102 15,102 3,220
Development fees12,500 12,500 64,911
Insurance reimbursements1,545,000 1,545,000 1,534,202
Copies- - 3,988
Special event fees- - 50
Map sales- - 93
Village of Golf inspection fees- - 5,015
Refuse and recycling charges
Bin sales3,000 3,000 1,276
Yard waste sticker sales6,000 6,000 7,141
Tipping fees650,000 650,000 810,900
SWANCC recycling incentive25,000 25,000 39,019
Joint dispatch charges
911 surcharge300,000 300,000 299,696
Wireless 911 surcharge290,000 290,000 359,926
Fire communication sub. service- - 150
Grayslake Dispatch558,569 558,569 598,652
Morton Grove Dispatch- 291,631 246,631
Niles Dispatch- 377,815 377,815
Other service charges
Police extra duty320,000 320,000 339,314
Reimbursements80,000 80,000 98,166
Supervision- - 7,799
Miscellaneous- - 39,415
Administrative fees for governmental funds
Library Fund85,000 85,000 134,582
SWANCC host community fees90,000 90,000 87,476
Total charges for services5,323,231 5,992,677 6,346,445
(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, 2012
Budget
97
OriginalFinalActual
Fees, fines, and service charges (continued)
Fines and forfeitures
Traffic fines120,000 $ 120,000 $ 116,908 $
Other fines2,806 2,806 107,290
Total fines and forfeitures122,806 122,806 224,198
Total fees, fines, and service charges5,446,037 6,115,483 6,570,643
Intergovernmental
Glenbrook Fire Protection District2,464,732 2,464,732 2,373,770
Village of Golf fire protection services140,383 140,383 140,384
Road and bridge taxes
Current year304,500 304,500 374,597
Prior year10,000 10,000 4,966
Sales tax13,093,500 13,093,500 13,091,218
Property replacement tax203,121 203,121 214,116
Illinois income tax3,392,827 3,392,827 3,962,313
Local use tax600,000 600,000 702,009
Make-whole payment1,307,182 1,307,182 1,318,686
Other intergovernmental
Grant proceeds- - 29,750
Total intergovernmental21,516,245 21,516,245 22,211,809
Investment income
Interest - savings1,500 1,500 31,189
Interest - investments82,500 82,500 84,213
Total investment income84,000 84,000 115,402
(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, 2012
Budget
98
OriginalFinalActual
Other revenues
Miscellaneous-$ -$ 28,674 $
Total other revenues- - 28,674
Total revenues before other
financing sources53,336,866 54,006,312 55,337,310
Other financing sources
Transfers in
North Maine Water and Sewer Fund135,651 135,651 135,651
Wholesale Water Fund300,000 300,000 300,000
Special Tax Allocation Fund273,379 273,379 273,379
Total transfers in 709,030 709,030 709,030
Total revenues and other
financing sources54,045,896 $ 54,715,342 $ 56,046,340 $
Village of Glenview, Illinois
General Fund
Schedule of Detailed Revenues and Other Financing Sources - Budget and Actual (Continued)
For the Year Ended December 31, 2012
Budget
99
OriginalFinalActual
General government
Village Board of Trustees
President and Board
Personnel8,720 $ 8,720 $ 8,409 $
Contractual services45,199 45,914 43,778
Commodities400 400 834
Other charges900 900 1,381
Total President and Board55,219 55,934 54,402
Special board appropriations
Personnel30,331 30,331 30,444
Contractual services245,420 245,420 237,851
Total special board appropriations275,751 275,751 268,295
Total Village Board of Trustees330,970 331,685 322,697
Village Manager's office
Administration division
Personnel632,256 672,494 763,673
Contractual services88,051 95,516 85,157
Commodities- - 87
Other charges6,350 6,350 16,166
Total administration division726,657 774,360 865,083
Human resources division
Personnel237,144 239,455 253,839
Contractual services47,504 68,881 74,043
Commodities- - 530
Other charges1,115,761 1,128,781 1,153,358
Total human resources division1,400,409 1,437,117 1,481,770
(Continued)
Village of Glenview, Illinois
General Fund
Schedule of Detailed Expenditures and Other Financing Uses - Budget and Actual
For the Year Ended December 31, 2012
Budget
100
OriginalFinalActual
General government (continued)
Village Manager's office (continued)
Communications division
Personnel133,717 $ 133,717 $ 136,956 $
Contractual services104,758 124,258 106,006
Commodities2,410 2,410 1,371
Other charges600 600 -
Total communications division241,485 260,985 244,333
Legal
Personnel2,260 2,260 -
Contractual services479,011 477,247 475,648
Total legal481,271 479,507 475,648
Total Village Manager's office2,849,822 2,951,969 3,066,834
Joint Dispatch
Personnel2,273,067 2,280,421 2,274,802
Contractual services98,986 520,054 63,170
Commodities22,499 25,499 23,134
Other charges93,588 90,588 88,238
Total joint dispatch2,488,140 2,916,562 2,449,344
Administration services
Administration division
Personnel258,369 269,374 297,117
Contractual services2,075 2,075 934
Other charges3,400 3,400 5,334
Total administration division263,844 274,849 303,385
(Continued)
Schedule of Detailed Expenditures and Other Financing Uses - Budget and Actual (Continued)
For the Year Ended December 31, 2012
Budget
Village of Glenview, Illinois
General Fund
101
OriginalFinalActual
General government (continued)
Administration services (continued)
Finance
Personnel296,811 $ 302,581 $ 347,746 $
Contractual services716,059 716,059 725,357
Other charges7,750 7,750 4,250
Total finance1,020,620 1,026,390 1,077,353
General government
Personnel315,145 - -
Contractual services1,659,841 1,659,841 1,863,355
Commodities93,150 93,150 32,089
Other charges112,418 (71,794) 28,326
Total general government2,180,554 1,681,197 1,923,770
Total finance department3,465,018 2,982,436 3,304,508
Resolution center
Personnel361,072 363,770 345,340
Total resolution center361,072 363,770 345,340
CADD operations
Personnel92,295 92,295 94,408
Contractual services168,512 168,512 184,905
Other charges175 175 140
Total CADD operations260,982 260,982 279,453
Information technology (IT)
Contractual services1,334,546 1,359,446 1,699,025
Commodities116,330 116,330 86,216
Other charges248,979 227,679 230,208
Total information technology1,699,855 1,703,455 2,015,449
Total administration services5,786,927 5,310,643 5,944,750
(Continued)
Schedule of Detailed Expenditures and Other Financing Uses - Budget and Actual (Continued)
For the Year Ended December 31, 2012
Budget
Village of Glenview, Illinois
General Fund
102
OriginalFinalActual
General government (continued)
Capital projects department
Administration
Personnel653,921 $ 678,736 $ 611,877 $
Contractual services62,482 50,682 34,562
Commodities9,738 9,738 3,979
Other charges33,445 33,445 25,110
Total administration759,586 772,601 675,528
Facilities division
Personnel281,678 286,493 286,130
Contractual services583,924 578,518 526,201
Commodities274,070 282,675 170,429
Other charges14,229 11,029 8,934
Total facilities division1,153,901 1,158,715 991,694
Inspections division
Personnel1,186,272 1,198,540 1,333,092
Contractual services304,755 340,655 322,793
Commodities2,458 2,458 2,245
Other charges49,669 49,669 38,847
Total inspections division 1,543,154 1,591,322 1,696,977
Total capital projects
department3,456,641 3,522,638 3,364,199
Total general government14,912,500 15,033,497 15,147,824
(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, 2012
103
OriginalFinalActual
Public works department
Personnel3,221,044 $ 3,210,288 $ 3,089,264 $
Contractual services2,434,331 2,538,761 2,107,513
Commodities1,020,316 1,127,886 939,998
Other charges770,543 773,543 698,794
Capital outlay208,750 208,750 201,426
Total public works department7,654,984 7,859,228 7,036,995
Public safety
Police department
Personnel9,569,334 9,690,630 9,665,592
Contractual services156,405 151,670 128,595
Commodities132,330 133,790 125,407
Other charges2,247,770 2,247,445 2,296,819
Total police department12,105,839 12,223,535 12,216,413
Fire department
Fire operations
Personnel9,817,824 9,848,590 9,822,942
Contractual services151,603 171,137 151,849
Commodities255,385 248,151 240,784
Other charges3,793,917 3,795,382 3,834,749
Total fire operations14,018,729 14,063,260 14,050,324
Total fire department14,018,729 14,063,260 14,050,324
Total public safety26,124,568 26,286,795 26,266,737
(Continued)
General Fund
Schedule of Detailed Expenditures and Other Financing Uses - Budget and Actual (Continued)
For the Year Ended December 31, 2012
Budget
Village of Glenview, Illinois
104
OriginalFinalActual
Development department
Administration
Personnel302,036 $ 317,488 $ 264,925 $
Contractual services3,820 3,820 4,177
Commodities3,200 3,200 2,445
Other charges7,500 7,500 3,062
Total administration316,556 332,008 274,609
Economic development
Personnel88,330 92,962 97,068
Contractual services104,280 104,280 109,072
Other charges750 750 1,047
Total economic development193,360 197,992 207,187
Planning and zoning
Personnel313,042 319,550 356,260
Contractual services43,580 129,580 100,894
Other charges34,060 34,060 28,079
Total planning and zoning390,682 483,190 485,233
Total development department900,598 1,013,190 967,029
Total current expenditures49,592,650 50,192,710 49,418,585
Total expenditures49,592,650 50,192,710 49,418,585
Other financing uses
Transfers out
Internal service funds- 248,378 248,378
Corporate Purpose Debt Service Fund1,968,426 1,968,426 2,030,408
Capital Projects Fund2,500,000 2,850,000 2,806,909
Total other financing uses4,468,426 5,066,804 5,085,695
Total expenditures and
other financing uses54,061,076 $ 55,259,514 $ 54,504,280 $
Budget
General Fund
Schedule of Detailed Expenditures and Other Financing Uses - Budget and Actual (Continued)
For the Year Ended December 31, 2012
Village of Glenview, Illinois
105
Original and
Final BudgetActual
Revenues
Local taxes
Property taxes - incremental27,200,000 $ 26,283,659 $
Intergovernmental - miscellaneous- 143,182
Investment income25,000 133,801
Charges for services14,180 17,180
Total revenues27,239,180 26,577,822
Expenditures
General government
Personnel404,076 396,698
Contractual services19,850,070 22,737,481
Commodities146,624 96,015
Other charges34,688 33,634
Debt service
Bond issuance costs- 92,160
Principal9,170,000 7,045,000
Interest and fiscal charges2,518,300 2,460,539
Total expenditures32,123,758 32,861,527
Deficiency of revenues over
expenditures(4,884,578) (6,283,705)
Other financing sources (uses)
Payment to bond escrow agent- (27,796,231)
Proceeds from bond issuance- 25,820,000
Premium on bond issuance- 2,075,642
Transfers out
General Fund(273,379) (273,379)
Total other financing sources (uses)(273,379) (173,968)
Net change in fund balance (5,157,957) $ (6,457,673)
Fund balance - beginning9,569,074
Fund balance - ending 3,111,401 $
Village of Glenview, Illinois
Special Tax Allocation Fund - Major Fund
Schedule of Detailed Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
For the Year Ended December 31, 2012
106
Original
and Final
BudgetActual
Revenues
Charges for services156,000 $ 156,000 $
Investment income28,000 122,546
Total revenues184,000 278,546
Expenditures
Development488,795 -
Excess (deficiency) of revenues
over expenditures(304,795) 278,546
Other financing uses
Transfers out
Capital Projects Fund(858,600) (269,204)
Glenview Sanitary Fund(1,700,000) (74,555)
Total other financing uses(2,558,600) (343,759)
Net change in fund balance(2,863,395) $ (65,213)
Fund balance - beginning30,602,697
Fund balance - ending30,537,484 $
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, 2012
GOVERNMENTAL FUND DESCRIPTIONS
NONMAJOR FUNDS
NONMAJOR SPECIAL REVENUE FUNDS
Motor Fuel Tax Fund - to account for revenues received from the state of Illinois for the local share of the
motor fuel tax collections and used for street maintenance and construction. State law requires that these
gasoline taxes be used to maintain streets.
Foreign Fire Insurance Fund - to account for a 2% charge imposed by the state on insurance premiums
received from companies not incorporated in the state of Illinois but that are engaged in providing fire
insurance in the Village. These special revenues are restricted to fire department expenditures approved
by the Foreign Fire Insurance Board.
Police Department Special Account Fund - to account for revenues received from the office of the
Illinois State Police, which are restricted to various types of investigations.
NONMAJOR DEBT SERVICE FUND
Corporate Purpose Debt Service Fund - to account for monies collected and paid for the Series 2004A
and 2004B bonds, issued in the amount of $25,000,000 to finance the completion of projects at The Glen,
and $22,315,000 to build a new police department headquarters, respectively.
NONMAJOR CAPITAL PROJECT FUNDS
Capital Projects Fund – to account for revenues and expenditures involved with improvements
throughout the Village which are not included in other capital project funds.
Glen Capital Projects Fund – (formerly called the “1995 GNAS Bond Projects Fund”) – to account for
expenditures related to various development projects related to The Glen.
107
Village of Glenview, Illinois
Nonmajor Governmental Funds
Combining Balance Sheet
December 31, 2012
Total
SpecialDebtCapitalNonmajor
RevenueServiceProjectGovernmental
FundsFundFundsFunds
Cash and cash equivalents751,854 $ 128,790 $ 2,566,851 $ 3,447,495 $
Investments749,218 - 9,190,185 9,939,403
Receivables
Accounts, net77,377 77,377
Other- 1,213 318,554 319,767
Due from other funds- 9,675 - 9,675
Due from other governments92,513 - - 92,513
Total assets1,593,585 $ 139,678 $ 12,152,967 $ 13,886,230 $
Liabilities
Accounts payable10,447 $ -$ 833,758 $ 844,205 $
Other payables157,960 - 325,131 483,091
Deferred revenue- - 165,157 165,157
Total liabilities168,407 - 1,324,046 1,492,453
Fund balances
Restricted1,425,178 139,678 10,828,921 12,393,777
Total fund balances1,425,178 139,678 10,828,921 12,393,777
Total liabilities and
fund balances1,593,585 $ 139,678 $ 12,152,967 $ 13,886,230 $
Assets
Liabilities and Fund Balances
108
Village of Glenview, Illinois
Nonmajor Governmental Funds
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances
For the Year Ended December 31, 2012
Total
SpecialDebtCapitalNonmajor
RevenueServiceProjectGovernmental
FundsFundFundsFunds
Revenues
Intergovernmental1,787,161 $ -$ 653,980 $ 2,441,141 $
Investment income9,242 5,424 36,336 51,002
Other revenue3,755 - 677,569 681,324
Total revenues1,800,158 5,424 1,367,885 3,173,467
Expenditures
Current
Public safety102,936 - - 102,936
Development- - 294,299 294,299
Capital outlay1,585,581 - 4,475,396 6,060,977
Debt service
Bond issuance costs- 46,884 - 46,884
Principal- 1,150,000 13,235 1,163,235
Interest and fiscal charges- 818,925 - 818,925
Total expenditures1,688,517 2,015,809 4,782,930 8,487,256
Excess (deficiency) of revenues
over expenditures111,641 (2,010,385) (3,415,045) (5,313,789)
Payment to bond escrow agent- (16,882,653) - (16,882,653)
Proceeds from bond issuance- 14,575,000 - 14,575,000
Premium on bond issuance- 2,356,749 - 2,356,749
Transfers in- 2,030,408 3,542,033 5,572,441
Total other financing sources
and uses- 2,079,504 3,542,033 5,621,537
Net change in fund balances111,641 69,119 126,988 307,748
Fund balances – beginning1,313,537 70,559 10,701,933 12,086,029
Fund balances – ending1,425,178 $ 139,678 $ 10,828,921 $ 12,393,777 $
Other financing sources (uses)
109
Village of Glenview, Illinois
Nonmajor Special Revenue Funds
Combining Balance Sheet
December 31, 2012
Police
ForeignDepartmentTotal
Motor FireSpecialNonmajor
Fuel TaxInsuranceAccountGovernmental
FundFundFundsFunds
Cash and cash equivalents410,718 $ 308,639 $ 32,497 $ 751,854 $
Investments749,218 - - 749,218
Due from other governments92,513 - - 92,513
Total assets1,252,449 $ 308,639 $ 32,497 $ 1,593,585 $
Liabiliites
Accounts payable10,447 $ -$ -$ 10,447 $
Other payables157,960 - - 157,960
Total liabilities168,407 - - 168,407
Fund balances
Restricted1,084,042 308,639 32,497 1,425,178
Total fund balances1,084,042 308,639 32,497 1,425,178
Total liabilities and
fund balances1,252,449 $ 308,639 $ 32,497 $ 1,593,585 $
Assets
Liabilities and Fund Balances
110
Village of Glenview, Illinois
Nonmajor Special Revenue Funds
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances
For the Year Ended December 31, 2012
Police
ForeignDepartmentTotal
Motor FireSpecialNonmajor
Fuel TaxInsuranceAccountGovernmental
FundFundFundsFunds
Revenues
Intergovernmental1,704,177 $ 82,984 $ -$ 1,787,161 $
Other revenue- - 3,755 3,755
Investment income6,739 2,222 281 9,242
Total revenues1,710,916 85,206 4,036 1,800,158
Expenditures
Public safety- 101,574 1,362 102,936
Capital outlay1,579,600 - 5,981 1,585,581
Total expenditures1,579,600 101,574 7,343 1,688,517
Net change in fund balances131,316 (16,368) (3,307) 111,641
Fund balances – beginning952,726 325,007 35,804 1,313,537
Fund balances – ending1,084,042 $ 308,639 $ 32,497 $ 1,425,178 $
111
Original and
Final BudgetActual
Revenues
Intergovernmental
Motor fuel tax1,579,600 $ 1,704,177 $
Investment income4,000 6,739
Total revenues1,583,600 1,710,916
Expenditures
Capital outlay1,579,600 1,579,600
Net change in fund balance4,000 $ 131,316
Fund balance - beginning952,726
Fund balance - ending1,084,042 $
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, 2012
112
Original and
Final BudgetActual
Revenues
Intergovernmental
Foreign fire insurance tax75,000 $ 82,984 $
Investment income1,200 2,222
Total revenues76,200 85,206
Expenditures
Public safety
Contractual services35,360 5,351
Commodities78,000 96,223
Total expenditures113,360 101,574
Net change in fund balance(37,160) $ (16,368)
Fund balance - beginning325,007
Fund balance - ending308,639 $
Village of Glenview, Illinois
Foreign Fire Insurance Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
For the Year Ended December 31, 2012
113
Original and
Final BudgetActual
Revenues
Investment income100 $ 281 $
Other revenue- 3,755
Total revenues100 4,036
Expenditures
Public safety
Other charges- 1,362
Capital outlay30,000 5,981
Total expenditures30,000 7,343
Net change in fund balance(29,900) $ (3,307)
Fund balance - beginning35,804
Fund balance - ending32,497 $
Village of Glenview, Illinois
Police Department Special Account Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
For the Year Ended December 31, 2012
114
Original
and Final
BudgetActual
Revenues
Investment income2,000 $ 5,424 $
Total revenues2,000 5,424
Expenditures
Debt service
Bond issue costs- 46,884
Principal1,150,000 1,150,000
Interest and fiscal charges818,926 818,925
Total expenditures1,968,926 2,015,809
Deficiency of revenues over
expenditures(1,966,926) (2,010,385)
Other financing sources (uses)
Payment to bond escrow agent- (16,882,653)
Proceeds from bond issuance- 14,575,000
Premium on bond issuance- 2,356,749
Transfers in from other funds
General Fund1,968,426 2,030,408
Total other financing sources1,968,426 2,079,504
Net change in fund balance1,500 $ 69,119
Fund balance - beginning70,559
Fund balance - ending139,678 $
Village of Glenview, Illinois
Corporate Purpose Debt Service Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
For the Year Ended December 31, 2012
115
Village of Glenview, Illinois
Nonmajor Capital Project Funds
Combining Balance Sheet
December 31, 2012
GlenTotal
CapitalCapitalNonmajor
ProjectsProjectsCapital Project
FundsFundFunds
Cash and cash equivalents2,133,551 $ 433,300 $ 2,566,851 $
Investments1,022,310 8,167,875 9,190,185
Receivables
Accounts, net77,377 - 77,377
Other - grant receivables296,325 22,117 318,442
Other- 112 112
Total assets3,529,563 $ 8,623,404 $ 12,152,967 $
Liabilities
Accounts payable832,478 $ 1,280 $ 833,758 $
Other payables225,007 100,124 325,131
Deferred revenues165,157 - 165,157
Total liabilities1,222,642 101,404 1,324,046
Fund balances
Restricted2,306,921 8,522,000 10,828,921
Total fund balances2,306,921 8,522,000 10,828,921
Total liabilities and
fund balances3,529,563 $ 8,623,404 $ 12,152,967 $
Assets
Liabilities and Fund Balances
116
Village of Glenview, Illinois
Nonmajor Capital Project Funds
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances
For the Year Ended December 31, 2012
GlenTotal
CapitalCapitalNonmajor
ProjectsProjectsCapital Project
FundsFundFunds
Revenues
Intergovernmental - grants and loans631,863 $ 22,117 $ 653,980 $
Other revenue674,560 3,009 677,569
Investment income13,568 22,768 36,336
Total revenues1,319,991 47,894 1,367,885
Expenditures
Development294,299 - 294,299
Capital outlay4,163,581 311,815 4,475,396
Debt service
Principal13,235 - 13,235
Total expenditures4,471,115 311,815 4,782,930
Deficiency of revenues
over expenditures(3,151,124) (263,921) (3,415,045)
Transfers in3,542,033 - 3,542,033
Total other financing sources3,542,033 - 3,542,033
Net change in fund balances390,909 (263,921) 126,988
Fund balances – beginning1,916,012 8,785,921 10,701,933
Fund balances – ending2,306,921 $ 8,522,000 $ 10,828,921 $
Other financing sources
117
OriginalFinalActual
Revenues
Charges for services130,000 $ 130,000 $ -$
Intergovernmental - grants and loans140,954 290,954 631,863
Other revenue104,951 524,699 674,560
Investment income- - 13,568
Total revenues375,905 945,653 1,319,991
Expenditures
Development
Contractual - 101,398 294,299
Capital outlay4,094,583 4,912,933 4,163,581
Debt service
Principal- - 13,235
Total expenditures4,094,583 5,014,331 4,471,115
Deficiency of revenues over
expenditures(3,718,678) (4,068,678) (3,151,124)
Other financing sources
Transfers in
General Fund2,500,000 2,850,000 2,806,909
Village Permanent Fund858,600 858,600 269,204
Wholesale Water Fund465,920 465,920 465,920
Total other financing sources3,824,520 4,174,520 3,542,033
Net change in fund balance105,842 $ 105,842 $ 390,909
Fund balance - beginning 1,916,012
Fund balance - ending 2,306,921 $
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, 2012
Budget
118
Original and
Final BudgetActual
Revenues
Intergovernmental - grant revenue250,000 $ 22,117 $
Other revenue2,894 3,009
Investment income20,000 22,768
Total revenues272,894 47,894
Expenditures
Capital outlay2,627,500 311,815
Deficiency of revenues over
expenditures(2,354,606) (263,921)
Net change in fund balance(2,354,606) $ (263,921)
Fund balance - beginning 8,785,921
Fund balance - ending 8,522,000 $
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, 2012
ENTERPRISE FUND DESCRIPTIONS
Enterprise funds are proprietary funds established to account for the financing of self-supporting activities
of government units which render services on a user-charge basis to the general public.
MAJOR ENTERPRISE FUNDS
Glenview Water Fund
Formerly called the Glenview Waterworks Fund, this fund accounts for the provision of water services to
the property owners in the Village. All activities necessary to provide such services are accounted for in
this fund including, but not limited to, administration, operations, maintenance, financing and related debt
service, and billing and collections.
North Maine Water and Sewer Fund
This enterprise fund accounts for the provision of water and sewer services to the property owners in an
unincorporated area southwest of the Village. This area was formerly served by the North Suburban
Public Utilities Company. All activities necessary to provide such services are accounted for in this fund
including, but not limited to, administration, operations, maintenance, financing and related debt service,
and billing and collections.
Glenview Sanitary Sewer Fund
Formerly call the Sewerage Fund, this fund accounts for the provision of sanitary sewer services to
property owners in both incorporated and unincorporated areas of the Village. All activities necessary to
provide such services are accounted for in this fund including, but not limited to, administration,
operations, maintenance, financing and related debt service, and billing and collections.
NONMAJOR ENTERPRISE FUNDS
Wholesale Water Fund - to account for the provision of water service to the Illinois American Water
Company, enabling the private utility to receive Lake Michigan water.
Commuter Parking Lot Fund - to account for the operation of the Village's commuter parking facilities,
including administration, sale of permits, and maintenance of the lots.
119
Budget and Actual (Budgetary Basis)
OriginalFinal Actual
Operating revenues
Charges for sales and services
Water charges9,570,449 $ 9,570,449 $ 10,984,918 $
Water connection charges50,000 50,000 114,644
Water meter and remote readers11,000 11,000 2,230
Total charges for sales and services9,631,449 9,631,449 11,101,792
Miscellaneous revenue
Late payment fees115,000 115,000 187,252
Water for construction10,000 10,000 21,479
Recapture agreement- - -
Other45,106 45,106 41,206
Total miscellaneous revenue170,106 170,106 249,937
Total operating revenues9,801,555 9,801,555 11,351,729
Operating expenses
Water services
Personnel2,062,038 2,062,038 2,030,473
Contractual services4,253,417 4,194,799 4,451,766
Commodities818,997 897,914 766,445
Capital outlay2,505,424 2,502,225 564,620
Other charges1,471,031 1,453,931 1,205,889
Total water services11,110,907 11,110,907 9,019,193
Operating income (loss)(1,309,352) (1,309,352) 2,332,536
(Continued)
Budget
Village of Glenview, Illinois
Glenview Water Fund - Major Fund
Schedule of Revenues, Expenses, and Changes in Net Position -
For the Year Ended December 31, 2012
120
Budget and Actual (Budgetary Basis) (Continued)
OriginalFinalActual
Nonoperating revenues (expenses)
Investment income9,000 $ 9,000 $ 9,719 $
Debt service
Principal(308,000) (308,000) (308,000)
Interest and fiscal charges(59,799) (59,799) (58,581)
Total nonoperating revenues (expenses)(358,799) (358,799) (480,519)
Change in net position - budgetary basis(1,668,151) $ (1,668,151) $ 1,852,017
GAAP basis adjustments
Depreciation and amortization(1,138,308)
Principal expense 308,000
Change in net position - GAAP basis1,021,709
Net position - beginning of year35,418,484
Net position - end of year36,440,193 $
Budget
Glenview Water Fund - Major Fund
Schedule of Revenues, Expenses, and Changes in Net Position -
For the Year Ended December 31, 2012
Village of Glenview, Illinois
121
Budget and Actual (Budgetary Basis)
OriginalFinalActual
Operating revenues
Charges for sales and services
Water charges7,580,461 $ 7,580,461 $ 7,667,560 $
Water meter and remote readers- - 687
Sewer charges450,000 450,000 462,187
Total charges for sales
and services8,030,461 8,030,461 8,130,434
Miscellaneous revenue
Late payment fees105,000 105,000 95,260
Other1,000 1,000 4,134
Total miscellaneous revenue106,000 106,000 99,394
Total operating revenues8,136,461 8,136,461 8,229,828
Operating expenses
Water and sewer distribution
Personnel865,951 865,951 839,043
Contractual services5,180,870 5,152,170 5,467,042
Commodities205,975 234,750 161,620
Other754,626 754,626 189,605
Capital outlay
Water mains926,993 926,993 342,807
Machinery and equipment1,200 1,125 944
Operating expenses7,935,615 7,935,615 7,001,061
Operating income200,846 200,846 1,228,767
(Continued)
Budget
Village of Glenview, Illinois
North Maine Water and Sewer Fund - Major Fund
Schedule of Revenues, Expenses, and Changes in Net Position -
For the Year Ended December 31, 2012
122
Budget and Actual (Budgetary Basis) (Continued)
OriginalFinalActual
Nonoperating revenues (expenses)
Investment income5,700 $ 5,700 $ 12,780 $
Gain (loss) on disposal of capital assets- - 18,763
Debt Service
Principal(135,000) (135,000) (135,000)
Interest and fiscal charges(248,711) (248,711) (192,820)
Total nonoperating revenues (expenses)(378,011) (378,011) (296,277)
Net income (loss) before transfers(177,165) (177,165) 932,490
Transfers out
General Fund(135,651) (135,651) (135,651)
Change in net position - budgetary basis(312,816) $ (312,816) $ 796,839
GAAP basis adjustments
Depreciation and amortization(205,868)
Principal expense 135,000
Change in net position - GAAP basis725,971
Net position - beginning of year4,110,449
Net position - end of year4,836,420 $
Budget
North Maine Water and Sewer Fund - Major Fund
Schedule of Revenues, Expenses, and Changes in Net Position -
For the Year Ended December 31, 2012
Village of Glenview, Illinois
123
Budget and Actual (Budgetary Basis)
OriginalFinalActual
Operating revenues
Charges for sales and services
Sewer charges2,333,699 $ 2,333,699 $ 2,440,732 $
Sewer connection charges4,000 4,000 8,890
Total charges for sales and services
2,337,699 2,337,699 2,449,622
Miscellaneous revenue
Other70,644 70,644 73,400
Total operating revenues2,408,343 2,408,343 2,523,022
Operating expenses
Sewerage services
Personnel441,649 441,649 422,507
Contractual services89,177 77,527 113,972
Commodities39,146 50,796 37,333
Other charges86,870 86,870 96,103
Capital outlay
Machinery and equipment3,179,434 3,179,434 589,637
Total operating expenses 3,836,276 3,836,276 1,259,552
Operating income (loss)(1,427,933) (1,427,933) 1,263,470
(Continued)
Budget
Village of Glenview, Illinois
Glenview Sanitary Sewer Fund - Major Fund
Schedule of Revenues, Expenses, and Changes in Net Position -
For the Year Ended December 31, 2012
124
Budget and Actual (Budgetary Basis) (Continued)
OriginalFinalActual
Nonoperating revenues (expenses)
Fines and fees
Heatherfield6,000 $ 6,000 $ 23,184 $
Investment income4,200 4,200 4,524
Loss on disposal of capital assets- - (11,123)
Debt Service
Principal(242,000) (242,000) (242,000)
Interest and fiscal charges(47,013) (47,013) (46,028)
Total nonoperating revenues (expenses)(278,813) (278,813) (271,443)
Income (loss) before transfers(1,706,746) (1,706,746) 992,027
Transfers in
Village Permanent Fund1,700,000 1,700,000 74,555
Change in net position - budgetary basis(6,746) $ (6,746) $ 1,066,582
GAAP basis adjustments
Depreciation and amortization(412,806)
Principal expense 242,000
Change in net position - GAAP basis895,776
Net position - beginning of year16,163,320
Net position - end of year17,059,096 $
Budget
Glenview Sanitary Sewer Fund - Major Fund
Schedule of Revenues, Expenses, and Changes in Net Position -
For the Year Ended December 31, 2012
Village of Glenview, Illinois
125
Village of Glenview, Illinois
Combining Statement of Net Position
Nonmajor Enterprise Funds
December 31, 2012
Total
WholesaleCommuterNonmajor
WaterParking LotEnterprise
FundFundFunds
Current assets
Cash and cash equivalents614,850 $ 819,431 $ 1,434,281 $
Investments280,558 200,793 481,351
Accounts receivable, net of uncollectibles169,092 - 169,092
Due from other governments- 3,473 3,473
Total current assets1,064,500 1,023,697 2,088,197
Noncurent assets
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 system2,512,633 - 2,512,633
Accumulated depreciation(1,242,617) (601,119) (1,843,736)
Total noncurrent assets1,270,016 2,281,944 3,551,960
Total assets2,334,516 3,305,641 5,640,157
Accounts payable153,814 13,100 166,914
Accrued payroll1,528 - 1,528
Accrued expenses443 - 443
Total liabilities155,785 13,100 168,885
Net investment in capital assets1,270,016 2,281,944 3,551,960
Unrestricted908,715 1,010,597 1,919,312
Total net position2,178,731 $ 3,292,541 $ 5,471,272 $
Liabilities
Net Position
Assets
126
Village of Glenview, Illinois
Combining Statement of Revenues, Expenses, and Changes in Net Position
Nonmajor Enterprise Funds
For the Year Ended December 31, 2012
Total
WholesaleCommuterNonmajor
WaterParking LotEnterprise
FundFundFunds
Operating revenues
Charges for sales and services
Water sales2,063,759 $ -$ 2,063,759 $
Parking meter fees- 163,548 163,548
Parking decals- 353,664 353,664
Total charges for sales and services2,063,759 517,212 2,580,971
Miscellaneous revenues- 9,000 9,000
Total operating revenues2,063,759 526,212 2,589,971
Operating expenses
Operations1,079,893 382,089 1,461,982
Depreciation and amortization69,702 67,585 137,287
Total operating expenses1,149,595 449,674 1,599,269
Operating income 914,164 76,538 990,702
Nonoperating revenues (expenses)
Investment income3,149 3,618 6,767
Interest and fiscal charges(8,240) - (8,240)
Total nonoperating revenues (expenses)(5,091) 3,618 (1,473)
Income before transfers909,073 80,156 989,229
Transfers out(765,920) - (765,920)
Changes in net position143,153 80,156 223,309
Net position - beginning2,035,578 3,212,385 5,247,963
Net position - ending2,178,731 $ 3,292,541 $ 5,471,272 $
127
Village of Glenview, Illinois
Combining Statement of Cash Flows
Nonmajor Enterprise Funds
For the Year Ended December 31, 2012
Total
WholesaleCommuterNonmajor
WaterParking LotEnterprise
FundFundFunds
Cash flows from operating activities
Cash received from customers and users2,209,445 $ 526,212 $ 2,735,657 $
Cash payments for goods and services(979,746) (393,390) (1,373,136)
Cash payments to employees(76,831) - (76,831)
Net cash provided by
operating activities1,152,868 132,822 1,285,690
Cash flows from noncapital financing activities
Transfers in- 694 694
Transfers out(765,920) - (765,920)
Net cash provided by (used in) noncapital
financing activities(765,920) 694 (765,226)
Cash flows from capital and related financing activities
Principal payments(225,000) - (225,000)
Interest payments(8,962) - (8,962)
Net cash used in capital and related
financing activities(233,962) - (233,962)
Cash flows from investing activities
Purchase of investments(1,131) (613) (1,744)
Sale of investments200,000 - 200,000
Interest received3,149 3,618 6,767
Net cash provided by investing activities202,018 3,005 205,023
Increase in cash and cash equivalents355,004 136,521 491,525
Cash and cash equivalents – beginning of year259,846 682,910 942,756
Cash and cash equivalents – end of year614,850 $ 819,431 $ 1,434,281 $
(Continued)
128
Village of Glenview, Illinois
Combining Statement of Cash Flows (Continued)
Nonmajor Enterprise Funds
For the Year Ended December 31, 2012
Total
WholesaleCommuterNonmajor
WaterParking LotEnterprise
FundFundFunds
Reconciliation of operating income to net
cash provided by operating activities
Operating income914,164 $ 76,538 $ 990,702 $
Adjustments to reconcile operating income
to net cash provided by operating activities
Depreciation and amortization69,702 67,585 137,287
Changes in assets and liabilities
Accounts receivable145,686 - 145,686
Due from other governments
Accounts payable21,494 (11,301) 10,193
Accrued payroll1,379 - 1,379
Accrued expenses443 - 443
Total adjustments238,704 56,284 294,988
Net cash provided by operating activities1,152,868 $ 132,822 $ 1,285,690 $
129
OriginalFinal Actual
Operating revenues
Charges for sales and services
Water sales2,298,316 $ 2,298,316 $ 2,063,759 $
Miscellaneous revenues- 59,589 -
Total operating revenues2,298,316 2,357,905 2,063,759
Operating expenses
Personnel78,273 78,273 76,831
Contractual services1,111,432 1,219,466 972,769
Commodities16,935 17,435 8,930
Other charges21,363 21,363 21,363
Total operating expenses 1,228,003 1,336,537 1,079,893
Operating income1,070,313 1,021,368 983,866
Nonoperating revenues (expenses)
Investment income3,300 3,300 3,149
Debt Service
Principal(225,000) (225,000) (225,000)
Interest and fiscal charges(9,062) (9,062) (8,240)
Total nonoperating revenues (expenses)(230,762) (230,762) (230,091)
Income before transfers839,551 790,606 753,775
Transfers out
General Fund(300,000) (300,000) (300,000)
Capital projects Fund(465,920) (465,920) (465,920)
Total transfers out(765,920) (765,920) (765,920)
Change in net position - budgetary basis73,631 $ 24,686 $ (12,145)
GAAP Basis adjustments
Depreciation and amortization (69,702)
Principal expense 225,000
Change in net position - GAAP Basis143,153
Net position - beginning of year 2,035,578
Net position - end of year 2,178,731 $
Village of Glenview, Illinois
Wholesale Water Fund
Schedule of Revenues, Expenses, and Changes in Net Position - Budget and Actual (Budgetary Basis)
For the Year Ended December 31, 2012
Budget
130
OriginalFinal Actual
Operating revenues
Charges for sales and services
Parking meter fees115,000 $ 115,000 $ 163,548 $
Parking decals375,000 375,000 353,664
Total charges for sales and services490,000 490,000 517,212
Miscellaneous revenues
Vendor lease rental fee9,200 9,200 9,000
Total operating revenues499,200 499,200 526,212
Operating expenses
Contractual services273,694 275,003 195,229
Commodities66,121 64,812 43,532
Other charges133,996 133,996 139,328
Capital outlay
Machinery and equipment4,000 4,000 4,000
Total operating expenses 477,811 477,811 382,089
Operating income21,389 21,389 144,123
Nonoperating revenues
Investment income2,000 2,000 3,618
Total nonoperating revenues2,000 23,389 3,618
Change in net position - budgetary basis23,389 $ 23,389 $ 147,741
GAAP basis adjustments
Depreciation and amortization(67,585)
Change in net position - GAAP basis80,156
Net position - beginning of year3,212,385
Net position - end of year 3,292,541 $
Village of Glenview, Illinois
Commuter Parking Lot Fund
Schedule of Revenues, Expenses, and Changes in Net Position - Budget and Actual (Budgetary Basis)
For the Year Ended December 31, 2012
Budget
INTERNAL SERVICE FUND DESCRIPTIONS
Internal service funds are proprietary funds that are used to provide an enterprise-like accounting of the
Village's costs of delivering certain services to departments within the Village. The revenues include
transfers from other funds to these funds for services provided and, as such, are recognized as charges
for services. Such transfers are recognized as expenditures/expenses for services in the other funds, not
as other financing uses.
Capital Equipment Replacement Fund - to account for the funds annually set aside for the eventual
replacement of certain capital equipment.
Municipal Equipment Repair Fund - to account for the cost of repairing and maintaining Village
vehicles. These costs include labor, material, fuel, fixed overhead of the Village's repair facility, and
depreciation.
Insurance and Risk Fund - to account for the financial activity of the Village's insurance program
including employee health and life insurance. In addition to conventional primary insurance, the Village is
a member of the High-Level Excess Liability Pool (HELP), which provides excess liability coverage. The
Village also provides health and life insurance by participating in the Intergovernmental Personnel Benefit
Cooperative (IPBC).
Facilities Replacement Fund - to account for the funds annually set aside for the eventual replacement
of the Village's various facilities.
131
Village of Glenview, Illinois
Internal Service Funds
Combining Statement of Net Position
December 31, 2012
CapitalMunicipal
EquipmentEquipment
ReplacementRepair
FundFund
Current assets
Cash and cash equivalents411,675 $ 313,243 $
Investments3,858,731 3,239
Accounts receivable, net of uncollectible amounts- 40,433
Accrued interest receivable8,595 -
Other receivables- -
Prepaid expenses996,582 -
Inventory - 339,117
Total assets5,275,583 696,032
Current liabilities
Accounts payable211,164 89,299
Accrued payroll - 8,462
Accrued expenses56,676 -
Claims payable - -
Unearned revenues- -
Total liabilities267,840 97,761
Unrestricted5,007,743 598,271
Total net position 5,007,743 $ 598,271 $
Assets
Liabilities
Net Position
132
Total
InsuranceFacilitiesInternal
andReplacementService
Risk FundFundFunds
691,395 $ 1,280,372 $ 2,696,685 $
7,176,038 3,607,563 14,645,571
48,376 - 88,809
24,069 4,563 37,227
40,000 - 40,000
85,264 - 1,081,846
- - 339,117
8,065,142 4,892,498 18,929,255
11,258 82,476 394,197
3,183 - 11,645
2,343 98,445 157,464
1,802,990 - 1,802,990
20,692 - 20,692
1,840,466 180,921 2,386,988
6,224,676 4,711,577 16,542,267
6,224,676 $ 4,711,577 $ 16,542,267 $
133
Village of Glenview, Illinois
Internal Service Funds
Combining Statement of Revenues, Expenses, and Changes in Fund Net Position
For the Year Ended December 31, 2012
CapitalMunicipal
EquipmentEquipment
ReplacementRepair
FundFund
Operating revenues
Charges for services1,363,107 $ 1,482,377 $
Miscellaneous64,706 178,960
Total operating revenues1,427,813 1,661,337
Operating expenses
Personnel - 432,737
Contractual services- 351,081
Commodities237,350 202,316
Other charges - 584,487
Capital outlay130,725 -
Total operating expenses368,075 1,570,621
Operating income 1,059,738 90,716
Nonoperating revenues
Investment income 17,881 962
Reassignment of capital assets(1,853,225) -
Total nonoperating revenues(1,835,344) 962
Income (loss) before transfers(775,606) 91,678
Transfers in 248,378 -
Change in net position (527,228) 91,678
Net position – beginning of year5,534,971 506,593
Net position – end of year5,007,743 $ 598,271 $
134
Total
InsuranceFacilitiesInternal
and RiskReplacementService
FundFundFunds
7,510,331 $ 826,013 $ 11,181,828 $
124,144 166,212 534,022
7,634,475 992,225 11,715,850
415,867 - 848,604
5,935,274 77,582 6,363,937
- - 439,666
- - 584,487
- 190,214 320,939
6,351,141 267,796 8,557,633
1,283,334 724,429 3,158,217
400,117 18,397 437,357
- (1,011,090) (2,864,315)
400,117 (992,693) (2,426,958)
1,683,451 (268,264) 731,259
- - 248,378
1,683,451 (268,264) 979,637
4,541,225 4,979,841 15,562,630
6,224,676 $ 4,711,577 $ 16,542,267 $
135
Village of Glenview, Illinois
Internal Service Funds
Combining Statement of Cash Flows
For the Year Ended December 31, 2012
CapitalMunicipal
EquipmentEquipment
ReplacementRepair
FundFund
Cash flows from operating activities
Cash received from customers and users1,427,813 $ 1,633,252 $
Cash payments for goods and services(1,282,043) (1,186,021)
Cash payments to employees - (432,737)
Net cash provided by (used in) operating activities145,770 14,494
Cash flows from noncapital financing activities
Transfers in 248,378 -
Net cash provided by noncapital financing activities248,378 -
Cash flows from capital and related financing activities
Purchases of capital assets(1,853,225) -
Net cash used in capital and related
financing activities (1,853,225) -
Cash flows from investing activities
Purchase of investments (2,006,506) (151)
Sale of investments 3,162,477 203,062
Interest received 12,329 962
Net cash provided by (used in) investing activities1,168,300 203,873
Increase (decrease) in cash and cash equivalents(290,777) 218,367
Cash and cash equivalents – beginning of year702,452 94,876
Cash and cash equivalents – end of year411,675 $ 313,243 $
Reconciliation of operating income to net
cash provided by operating activities:
Operating income 1,059,738 $ 90,716 $
Adjustments to reconcile operating income
to net cash provided by (used in) operating activities
Changes in assets and liabilities:
Accounts receivable - (28,085)
Prepaid expenses (996,582) -
Inventory - (57,570)
Accounts payable 28,403 3,458
Accrued payroll - 6,688
Accrued expenses 54,211 (713)
Claims payable - -
Unearned revenues - -
Total adjustments(913,968) (76,222)
Net cash provided by (used in) operating activities145,770 $ 14,494 $
136
Total
InsuranceFacilitiesInternal
and RiskReplacementService
FundFundFunds
7,659,656 $ 992,225 $ 11,712,946 $
(7,374,347) (549,589) (10,392,000)
(415,867) - (848,604)
(130,558) 442,636 472,342
- - 248,378
- - 248,378
- (1,011,090) (2,864,315)
- (1,011,090) (2,864,315)
(5,069,434) (1,654,169) (8,730,260)
4,622,685 3,082,273 11,070,497
379,736 16,179 409,206
(67,013) 1,444,283 2,749,443
(197,571) 875,829 605,848
888,966 404,543 2,090,837
691,395 $ 1,280,372 $ 2,696,685 $
1,283,334 $ 724,429 $ 3,158,217 $
4,489 - (23,596)
(1,679) - (998,261)
- - (57,570)
(50,821) (351,004) (369,964)
2,775 69,211 78,674
(3,352) - 50,146
(1,385,996) - (1,385,996)
20,692 - 20,692
(1,413,892) (281,793) (2,685,875)
(130,558) $ 442,636 $ 472,342 $
137
Budget and Actual (Budgetary Basis)
Original and
Final BudgetActual
Operating revenues
Charges for services
CERF charges1,363,107 $ 1,363,107 $
Total charges for services1,363,107 1,363,107
Miscellaneous revenues
Other charges90,500 64,706
Total miscellaneous revenues90,500 64,706
Total operating revenues1,453,607 1,427,813
Operating expenses
Commodities231,633 237,350
Capital outlay
Machinery and equipment8,359 68,846
Computer servers68,250 31,339
Vehicles40,387 30,540
Total operating expenses348,629 368,075
Operating income 1,014,478 1,059,738
Nonoperating revenues
Investment income50,000 17,881
Reassignment of capital assets(1,817,810) (1,853,225)
Total nonoperating revenue(1,767,810) (1,835,344)
Loss before transfers(753,332) (775,606)
Transfer from other funds
Transfers in from General Fund- 248,378
Total transfers- 248,378
Change in net position(753,332) $ (527,228)
Net position - beginning5,534,971
Net position - ending 5,007,743 $
Village of Glenview, Illinois
Capital Equipment Replacement Fund (CERF)
Schedule of Revenues, Expenses, and Changes in Net Position -
For the Year Ended December 31, 2012
138
Budget and Actual (Budgetary Basis)
OriginalFinalActual
Operating revenues
Charges for services
Village1,588,493 $ 1,588,493 $ 1,481,266 $
Library4,800 4,800 1,111
Total charges for services1,593,293 1,593,293 1,482,377
Miscellaneous revenues
Other charges132,598 132,598 178,960
Total miscellaneous revenues132,598 132,598 178,960
Total operating revenues1,725,891 1,725,891 1,661,337
Operating expenses
Administration
Contractual services12,000 - -
Total administration12,000 - -
Fleet Management
Personnel416,699 416,699 432,737
Contractual services305,849 387,000 351,081
Commodities221,012 242,861 202,316
Other charges 758,506 667,506 584,487
Total fleet management1,702,066 1,714,066 1,570,621
Total operating expenses1,714,066 1,714,066 1,570,621
Operating income11,825 11,825 90,716
(Continued)
Budget
Village of Glenview, Illinois
Municipal Equipment Repair Fund
Schedule of Revenues, Expenses, and Changes in Net Position -
For the Year Ended December 31, 2012
139
Budget and Actual (Budgetary Basis) (Continued)
Original andOriginal and
Final BudgetFinal BudgetActual
Nonoperating revenues
Investment income1,000 $ 1,000 $ 962 $
Total nonoperating revenues1,000 1,000 962
Change in net position12,825 $ 12,825 $ 91,678
Net position - beginning506,593
Net position - ending 598,271 $
Municipal Equipment Repair Fund
Schedule of Revenues, Expenses, and Changes in Net Position -
For the Year Ended December 31, 2012
Village of Glenview, Illinois
140
Budget and Actual (Budgetary Basis)
Original and
Final BudgetActual
Operating revenues
Charges for services
Insurance premiums
Employees695,000 $ 895,236 $
Village3,717,535 3,719,561
Retirees1,033,705 930,308
Component unit - Library680,395 501,980
Other1,463,246 1,463,246
Total charges for services7,589,881 7,510,331
Miscellaneous
Insurance recoveries40,000 124,144
Total miscellaneous revenues40,000 124,144
Total operating revenues7,629,881 7,634,475
Operating expenses
Personnel564,050 415,867
Contractual services7,447,099 5,935,274
Total operating expenses8,011,149 6,351,141
Operating Income (loss)(381,268) 1,283,334
Nonoperating income
Investment income240,382 400,117
240,382 400,117
Change in net position(140,886) $ 1,683,451
Net position - beginning4,541,225
Net position - ending 6,224,676 $
For the Year Ended December 31, 2012
Village of Glenview, Illinois
Insurance and Risk Fund
Schedule of Revenues, Expenses, and Changes in Net Position -
141
Budget and Actual (Budgetary Basis)
OriginalFinalActual
Operating revenues
Charges for services
Facilities charges1,109,550 $ 1,109,550 $ 826,013 $
Total charges for services1,109,550 1,109,550 826,013
Miscellaneous
Intergovernmental275,000 275,000 -
Other income- - 166,212
Total miscellaneous revenues275,000 275,000 166,212
Total operating revenues1,384,550 1,384,550 992,225
Operating expenses
Contractual services- 106,245 77,582
Capital outlay
Other operating expenses296,649 279,826 190,214
Total operating expenses296,649 386,071 267,796
Operating income1,087,901 998,479 724,429
Nonoperating revenues
Investment income30,000 30,000 18,397
Reassignment of capital assets(1,576,851) (1,487,429) (1,011,090)
Total nonoperating revenue(1,546,851) (1,457,429) (992,693)
Change in net position(458,950) $ (458,950) $ (268,264)
Net position - beginning4,979,841
Net position - ending 4,711,577 $
Budget
Facilities Replacement Fund
Schedule of Revenues, Expenses, and Changes in Net Position -
For the Year Ended December 31, 2012
Village of Glenview, Illinois
TRUST AND AGENCY FUND DESCRIPTIONS
Trust and agency funds are fiduciary funds used to account for assets held by the Village in a trustee
capacity for individuals, private organizations, and/or other governments.
Pension Trust Funds
Police Pension Fund - to account for the accumulation of resources to be used for retirement
annuity payments to Police Department personnel at appropriate amounts and times in the future.
Resources are contributed by police employees at rates fixed by state law, and by the Village at
amounts determined by an annual actuarial study through an annual property tax levy.
Firefighters' Pension Fund - to account for the accumulation of resources to be used for retirement
annuity payments to Fire Department personnel at appropriate amounts and times in the future.
Resources are contributed by firefighter employees at rates fixed by state law, and by the Village at
amounts determined by an annual actuarial study through an annual property tax levy.
Agency Funds
Special Service Area (SSA) Bond Fund - to account for the non-commitment debt service activities
of the Village related to the special service areas.
Escrow Deposit Fund - to account for the deposits placed with the Village by building contractors. In
2007 and prior years, this fund was reported as a special revenue fund. The fund balance was used
to reduce payables and the fund was reclassified as an agency fund at the end of fiscal year 2007.
142
Village of Glenview, Illinois
Pension Trust Funds
Combining Statement of Fiduciary Net Position
December 31, 2012
Police Firefighters'
PensionPension
FundFundTotal
Assets
Cash and cash equivalents2,646,456 $ 408,612 $ 3,055,068 $
Investments
U.S. government and agency obligations27,763,811 23,296,069 51,059,880
Municipal obligations196,048 2,479,864 2,675,912
Corporate obligations2,040,756 - 2,040,756
Equity mutual funds23,618,884 28,876,148 52,495,032
Accrued interest receivable111,144 121,045 232,189
Due from other funds8,559 14,555 23,114
Prepaid expenses- 1,962 1,962
Total assets56,385,658 55,198,255 111,583,913
Liabilities
Accrued expenses14,333 1,688 16,021
Net Position
Held in trust for pension benefits56,371,325 $ 55,196,567 $ 111,567,892 $
143
Village of Glenview, Illinois
Pension Trust Funds
Combining Statement of Changes in Fiduciary Net Position
For the Year Ended December 31, 2012
Police Firefighters'
PensionPension
FundFundTotal
Additions
Contributions
Employer1,812,692 $ 2,926,010 $ 4,738,702 $
Participant663,702 723,089 1,386,791
Total contributions2,476,394 3,649,099 6,125,493
Investment income
Net appreciation in fair value of investments2,480,278 3,733,431 6,213,709
Interest income1,406,963 1,492,527 2,899,490
Less investment expenses(88,696) (138,318) (227,014)
Net investment income3,798,545 5,087,640 8,886,185
Total additions6,274,939 8,736,739 15,011,678
Deductions
Retirement pensions2,300,198 3,706,420 6,006,618
Widow pensions246,438 265,329 511,767
Disability pensions48,593 455,103 503,696
Total deductions2,595,229 4,426,852 7,022,081
Change in net position3,679,710 4,309,887 7,989,597
Net position held in trust at beginning of year52,691,615 50,886,680 103,578,295
Net position held in trust at end of year56,371,325 $ 55,196,567 $ 111,567,892 $
144
Original and
Final BudgetActual
Additions
Contributions
Employer1,767,365 $ 1,812,692 $
Participant679,681 663,702
Total contributions2,447,046 2,476,394
Investment income
Net appreciation
in fair value of investments2,700,000 2,480,278
Interest income810,000 1,406,963
Less investment expense(80,093) (88,696)
Net investment income 3,429,907 3,798,545
Total additions 5,876,953 6,274,939
Deductions
Retirement pensions2,054,550 2,300,198
Widow pensions248,473 246,438
Disability pensions48,992 48,593
Contribution refunds50,000 -
Total deductions2,402,015 2,595,229
Change in net position3,474,938 $ 3,679,710
Net position held in trust for pension benefits
Beginning 52,691,615
Ending 56,371,325 $
Village of Glenview, Illinois
Police Pension Fund
Schedule of Changes in Plan Net Position - Budget and Actual
For the Year Ended December 31, 2012
145
Original and
Final BudgetActual
Additions
Contributions
Employer2,862,905 $ 2,926,010 $
Participant666,518 723,089
Total contributions3,529,423 3,649,099
Investment income
Net appreciation
in fair value of investments3,000,000 3,733,431
Interest income501,000 1,492,527
Less investment expense(164,030) (138,318)
Net investment income 3,336,970 5,087,640
Total additions 6,866,393 8,736,739
Deductions
Retirement pensions3,467,690 3,706,420
Widow pensions251,001 265,329
Disability pensions483,181 455,103
Contribution refunds50,000 -
Total deductions4,251,872 4,426,852
Change in net position2,614,521 $ 4,309,887
Net position held in trust for pension benefits
Beginning 50,886,680
Ending 55,196,567 $
Village of Glenview, Illinois
Firefighters' Pension Fund
Schedule of Changes in Plan Net Position - Budget and Actual
For the Year Ended December 31, 2012
146
Village of Glenview, Illinois
Agency Funds
Statements of Changes in Assets and Liabilities
For the Year Ended December 31, 2012
Balances,Balances,
January 1AdditionsSubtractionsDecember 31
COMBINING STATEMENT - ALL AGENCY FUNDS
Assets
Cash and cash equivalents642,497 $ 3,567,074 $ 3,673,558 $ 536,013 $
Investments3,785,575 1,603,089 2,092,888 3,295,776
Receivables -
Property taxes273,008 273,008 273,008 273,008
Interest3,420 5,749 3,420 5,749
Total assets4,704,500 $ 5,448,920 $ 6,042,874 $ 4,110,546 $
Liabilities
Accounts payable45,543 $ 1,842,803 $ 1,764,866 $ 123,480 $
Refundable deposits4,268,202 1,147,849 1,832,753 3,583,298
Due to other funds22,628 881 13,096 10,413
Due to bond holders368,127 298,236 273,008 393,355
Total liabilities4,704,500 $ 3,289,769 $ 3,883,723 $ 4,110,546 $
INDIVIDUAL AGENCY FUND STATEMENTS
Special Service Area (SSA) Bond Fund
Assets
Cash and cash equivalents117,747 $ 306,122 $ 293,109 $ 130,760 $
Receivables - property taxes273,008 273,008 273,008 273,008
Total assets390,755 $ 579,130 $ 566,117 $ 403,768 $
Liabilities
Due to other funds22,628 $ 881 $ 13,096 $ 10,413 $
Due to bond holders368,127 298,236 273,008 393,355
Total liabilities390,755 $ 299,117 $ 286,104 $ 403,768 $
(Continued)
147
Village of Glenview, Illinois
Statements of Changes in Assets and Liabilities (Continued)
Agency Funds
For the Year Ended December 31, 2012
Balances,Balances,
January 1AdditionsSubtractionsDecember 31
INDIVIDUAL AGENCY FUND STATEMENTS (CONTINUED)
Escrow Deposit Fund
Assets
Cash and cash equivalents524,750 $ 3,260,952 $ 3,380,449 $ 405,253 $
Investments3,785,575 1,603,089 2,092,888 3,295,776
Receivables - interest3,420 5,749 3,420 5,749
Total assets4,313,745 $ 4,869,790 $ 5,476,757 $ 3,706,778 $
Liabilities
Accounts payable45,543 $ 1,842,803 $ 1,764,866 $ 123,480 $
Refundable deposits4,268,202 1,147,849 1,832,753 3,583,298
Total liabilities4,313,745 $ 2,990,652 $ 3,597,619 $ 3,706,778 $
GLENVIEW LIBRARY
COMPONENT UNIT
The Glenview Library (Library) is a discretely presented component unit of the Village of Glenview. The
following fund descriptions provide information on the governmental funds used within the Village's
component unit, the Library.
The Glenview Library Funds account for the resources necessary to provide the educational, cultural, and
recreational activities of the Glenview Public Library.
148
Village of Glenview, Illinois
Combining Balance Sheet and Statement of Net Position
Glenview Library - Component Unit
December 31, 2012
Library
General
LibraryObligationNonmajor
GeneralBond SeriesLibraryTotal
Fundof 2009AFundsLibrary
Assets
Current assets
Cash and cash equivalents794,618 $ 105,756 $ 259,643 $ 1,160,017 $
Investments2,571,957 - 644,991 3,216,948
Receivables, net of allowances
Property taxes5,568,727 1,860,790 - 7,429,517
Total current assets8,935,302 1,966,546 904,634 11,806,482
Noncurrent assets
Capital assets not depreciated- - - -
Capital assets depreciated (net)- - - -
Total noncurrent assets- - - -
Total assets8,935,302 $ 1,966,546 $ 904,634 $ 11,806,482 $
Combining Balance Sheet
149
Total
Component
AdjustmentsUnit
-$ 1,160,017 $
- 3,216,948
- 7,429,517
- 11,806,482
5,426,987 5,426,987
26,955,799 26,955,799
32,382,786 32,382,786
32,382,786 $ 44,189,268 $
(Continued)
Statement of Net Position
150
Village of Glenview, Illinois
Combining Balance Sheet and Statement of Net Position (Continued)
Glenview Library - Component Unit
December 31, 2012
Library
General
LibraryObligationNonmajor
GeneralBond SeriesLibraryTotal
Fundof 2009AFundsLibrary
Liabilities
Current liabilities
Accounts payable351,938 $ -$ 5,962 $ 357,900 $
Accrued payroll97,353 - - 97,353
Accrued interest- - - -
Unearned revenues5,541,474 1,851,389 - 7,392,863
Current portion of bonds payable- - - -
Current portion of compensated
absences- - - -
Total current liabilities5,990,765 1,851,389 5,962 7,848,116
Noncurrent liabilities
Bond payable- - - -
Compensated absences- - - -
Total noncurrent liabilities- - - -
Total liabilities5,990,765 1,851,389 5,962 7,848,116
Invested in capital assets, net
of related debt- - - -
Restricted- 115,157 903,672 1,018,829
Unassigned/unrestricted2,944,537 - (5,000) 2,939,537
Total fund balance/
net position2,944,537 115,157 898,672 3,958,366
Total liabilities and
fund balance/net position8,935,302 $ 1,966,546 $ 904,634 $ 11,806,482 $
Fund Balance/Net Position
Combining Balance Sheet
151
Total
Component
AdjustmentsUnit
-$ 357,900 $
- 97,353
73,236 73,236
- 7,392,863
1,070,000 1,070,000
55,829 55,829
1,199,065 9,047,181
22,705,000 22,705,000
223,318 223,318
22,928,318 22,928,318
24,127,383 31,975,499
8,607,786 8,607,786
- 1,018,829
(352,383) 2,587,154
8,255,403 12,213,769
32,382,786 $ 44,189,268 $
Statement of Net Position
152
Village of Glenview, Illinois
Combining Statement of Revenues, Expenditures, and Changes in
Fund Balances and Statement of Activities
Glenview Library - Component Unit
Year Ended December 31, 2012
Library
General
LibraryObligationNonmajor
GeneralBond SeriesLibraryTotal
Fundof 2009AFundsLibrary
Revenues
Property taxes5,787,855 $ 1,529,815 $ -$ 7,317,670 $
Charges for services62,825 - - 62,825
Fines and forfeitures81,175 - - 81,175
Intergovernmental894,964 - - 894,964
Other revenue39,596 - 66,145 105,741
Investment income23,863 4,175 3,563 31,601
Total revenues6,890,278 1,533,990 69,708 8,493,976
Expenditures
Current
Culture and recreation6,661,101 - 25,086 6,686,187
Debt service
Principal- 1,045,000 - 1,045,000
Interest and other- 910,681 - 910,681
Capital outlay6,276 - 12,508 18,784
Total expenditures6,667,377 1,955,681 37,594 8,660,652
Excess (deficiency) of revenues
over expenditures222,901 (421,691) 32,114 (166,676)
Other financing sources (uses)
Transfers in- 488,795 65,154 553,949
Transfers out(488,795) - (65,154) (553,949)
Total other financing
sources (uses)(488,795) 488,795 - -
Net change in fund balances/
net position(265,894) 67,104 32,114 (166,676)
Fund balances/net position
Beginning3,210,431 48,053 866,558 4,125,042
Ending2,944,537 $ 115,157 $ 898,672 $ 3,958,366 $
and Changes in Fund Balances
Statement of Revenues, Expenditures,
153
Total
Component
AdjustmentsUnit
-$ 7,317,670 $
- 62,825
- 81,175
- 894,964
- 105,741
- 31,601
- 8,493,976
1,435,366 8,121,553
(1,045,000) -
73,236 983,917
(18,784) -
444,818 9,105,470
(444,818) (611,494)
(553,949) -
553,949 -
- -
(444,818) (611,494)
8,700,221 12,825,263
8,255,403 $ 12,213,769 $
Statement of Activities
154
Variance
Over /
OriginalFinalActual(Under)
Revenues
Local taxes
Property taxes for Library
Current year5,694,070 $ 5,694,070 $ 5,800,316 $ 106,246 $
Prior year50,000 50,000 (12,461) (62,461)
Total local taxes5,744,070 5,744,070 5,787,855 43,785
Charges for services
Nonresident fee16,000 16,000 18,658 2,658
Personal books3,000 3,000 1,730 (1,270)
Copying fees10,500 10,500 12,667 2,167
Circular collection fees100 100 15 (85)
Video fees22,000 22,000 27,645 5,645
Rental fees1,500 1,500 2,110 610
Total charges for services53,100 53,100 62,825 9,725
Fines and forfeitures
Library fines85,000 85,000 68,206 (16,794)
Lost and paid11,000 11,000 12,969 1,969
Total fines and forfeitures96,000 96,000 81,175 (14,825)
Intergovernmental
Property replacement tax29,000 29,000 29,000 -
Make-whole TIF area taxes653,789 810,812 820,132 9,320
Grant proceeds45,000 45,000 45,832 832
Total intergovernmental727,789 884,812 894,964 10,152
Investment income
Interest15,500 15,500 23,863 8,363
Other revenue
Employee dental contribution19,000 19,000 15,215 (3,785)
Miscellaneous 1,000 1,000 24,381 23,381
Total other revenues20,000 20,000 39,596 19,596
Total revenues6,656,459 6,813,482 6,890,278 76,796
(Continued)
Village of Glenview, Illinois
Glenview Library - Component Unit - Library General Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance
For the Year Ended December 31, 2012
Budget
155
Variance
Over /
OriginalFinalActual(Under)
Expenditures
Culture and recreation
Library administration
Personnel1,108,252 $ 1,059,510 $ 1,000,891 $ (58,619) $
Contractual services260,450 311,450 313,541 2,091
Commodities7,900 7,900 9,627 1,727
Other charges82,304 82,304 60,206 (22,098)
Total library administration1,458,906 1,461,164 1,384,265 (76,899)
Readers' services
Personnel713,682 713,682 705,893 (7,789)
Contractual services14,650 14,650 14,369 (281)
Commodities261,800 261,800 257,588 (4,212)
Other charges5,000 5,000 2,681 (2,319)
Total readers' services995,132 995,132 980,531 (14,601)
Buildings and grounds maintenance
Personnel178,492 178,492 196,668 18,176
Contractual services97,800 97,800 106,825 9,025
Commodities66,850 66,850 50,650 (16,200)
Other charges1,000 1,000 478 (522)
Total building and grounds
maintenance344,142 344,142 354,621 10,479
Circulation
Personnel804,774 804,774 845,797 41,023
Contractual services11,815 11,815 17,347 5,532
Commodities19,930 19,930 10,701 (9,229)
Other charges4,725 4,725 2,021 (2,704)
Total circulation841,244 841,244 875,866 34,622
(Continued)
Glenview Library - Component Unit - Library General Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance (Continued)
For the Year Ended December 31, 2012
Budget
Village of Glenview, Illinois
156
Variance
Over /
OriginalFinalActual(Under)
Expenditures (continued)
Public information
Personnel137,946 $ 137,946 $ 145,838 $ 7,892 $
Contractual services49,675 49,675 36,327 (13,348)
Commodities3,275 3,275 2,887 (388)
Other charges725 725 458 (267)
Total public information191,621 191,621 185,510 (6,111)
Technical services
Personnel765,585 765,585 742,056 (23,529)
Contractual services397,250 418,448 403,538 (14,910)
Commodities26,100 26,100 25,461 (639)
Other charges4,000 4,000 2,461 (1,539)
Total technical services1,192,935 1,214,133 1,173,516 (40,617)
Youth services
Personnel655,413 655,413 617,428 (37,985)
Contractual services45,950 45,950 49,146 3,196
Commodities115,600 115,600 113,221 (2,379)
Other charges4,200 4,200 3,997 (203)
Total youth services821,163 821,163 783,792 (37,371)
Reference
Personnel600,161 600,161 617,131 16,970
Contractual services159,285 159,285 144,450 (14,835)
Commodities185,900 185,900 158,988 (26,912)
Other charges6,550 6,550 2,431 (4,119)
Total reference951,896 951,896 923,000 (28,896)
Total culture and recreation6,797,039 6,820,495 6,661,101 (159,394)
(Continued)
Schedule of Revenues, Expenditures, and Changes in Fund Balance (Continued)
For the Year Ended December 31, 2012
Budget
Village of Glenview, Illinois
Glenview Library - Component Unit - Library General Fund
157
Variance
Over /
OriginalFinalActual(Under)
Expenditures (continued)
Capital outlay
Furniture and fixtures750 $ 750 $ -$ (750) $
Machinery and equipment6,900 6,900 6,276 (624)
Total capital outlay7,650 7,650 6,276 (1,374)
Total expenditures6,804,689 6,828,145 6,667,377 (160,768)
Excess (deficiency) of revenues over
expenditures(148,230) (14,663) 222,901 237,564
Other financing sources (uses)
Transfer out
Library GO Bond Series 2009A- (488,795) (488,795) -
Net change in fund balance(148,230) $ (503,458) $ (265,894) 237,564 $
Fund balance - beginning3,210,431
Fund balance - ending2,944,537 $
Budget
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, 2012
158
OriginalVariance
and Final Over /
BudgetActual(Under)
Revenues
Property taxes1,466,386 $ 1,529,815 $ 63,429 $
Other revenue
Contributions from primary government488,795 - (488,795)
Investment income750 4,175 3,425
Total revenue1,955,931 1,533,990 (421,941)
Expenditures
Debt service
Principal1,045,000 1,045,000 -
Interest and other910,681 910,681 -
Total expenditures1,955,681 1,955,681 -
Excess (deficiency) of revenues
over expenditures250 (421,691) (421,941)
Other financing sources
Transfer in
Library General Fund- 488,795 488,795
Net change in fund balance250 $ 67,104 66,854 $
Fund balance - beginning48,053
Fund balance - ending115,157 $
Village of Glenview, Illinois
Glenview Library - Component Unit - Library General Obligation Bond Series of 2009A
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
For the Year Ended December 31, 2012
159
Village of Glenview, Illinois
Combining Balance Sheet
Glenview Library - Component Unit - Library Nonmajor Funds
December 31, 2012
FriendsTotal
of the WatsonSpecial
LibraryGiftGiftRevenue
Cash and cash equivalents64,079 $ 115,335 $ 16,223 $ 195,637 $
Investments- - - -
Total assets64,079 $ 115,335 $ 16,223 $ 195,637 $
Liabilities
Accounts payable962 $ -$ -$ 962 $
Total liabilities962 - - 962
Fund balances
Restricted63,117 115,335 16,223 194,675
Unassigned- - - -
Total fund balances63,117 115,335 16,223 194,675
Total liabilities and
fund balances64,079 $ 115,335 $ 16,223 $ 195,637 $
Special Revenue Funds
Assets
Liabilities and Fund Balances
160
LibraryLibraryLibraryTotalTotal
CapitalSpecialNewCapitalNonmajor
ContributionReserveBuildingProjectLibrary
58,781 $ 5,225 $ -$ 64,006 $ 259,643 $
- 644,991 - 644,991 644,991
58,781 $ 650,216 $ -$ 708,997 $ 904,634 $
-$ -$ 5,000 $ 5,000 $ 5,962 $
- - 5,000 5,000 5,962
58,781 650,216 - 708,997 903,672
- - (5,000) (5,000) (5,000)
58,781 650,216 (5,000) 703,997 898,672
58,781 $ 650,216 $ -$ 708,997 $ 904,634 $
Capital Project Funds
161
Village of Glenview, Illinois
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances
Glenview Library - Component Unit - Library Nonmajor Funds
For the Year Ended December 31, 2012
FriendsTotal
of the WatsonSpecial
LibraryGiftGiftRevenue
Revenues
Other revenue
Donations35,000 $ 620 $ -$ 35,620 $
Investment income332 937 288 1,557
Total revenues35,332 1,557 288 37,177
Expenditures
Culture and recreation
Miscellaneous24,531 - - 24,531
Capital outlay- - 6,397 6,397
Total expenditures24,531 - 6,397 30,928
Other financing sources (uses)
Transfers in- - - -
Transfers out- - (65,154) (65,154)
Total other financing sources (uses)- - (65,154) (65,154)
Net change in fund balances10,801 1,557 (71,263) (58,905)
Fund balances - beginning52,316 113,778 87,486 253,580
Fund balances (deficit) - ending63,117 $ 115,335 $ 16,223 $ 194,675 $
Special Revenue Funds
162
LibraryLibraryLibraryTotalTotal
CapitalSpecialNewCapitalNonmajor
ContributionReserveBuildingProjectLibrary
30,525 $ -$ -$ 30,525 $ 66,145 $
441 1,565 - 2,006 3,563
30,966 1,565 - 32,531 69,708
555 - - 555 25,086
1,298 - 4,813 6,111 12,508
1,853 - 4,813 6,666 37,594
- - 65,154 65,154 65,154
- - - - (65,154)
- - 65,154 65,154 -
29,113 1,565 60,341 91,019 32,114
29,668 648,651 (65,341) 612,978 866,558
58,781 $ 650,216 $ (5,000) $ 703,997 $ 898,672 $
Capital Project Funds
163
OriginalVariance
and Final2012Over /
BudgetActual(Under)
Revenues
Total revenue-$ -$ -$
Expenditures
Capital outlay87,608 4,813 (82,795)
Total expenditures87,608 4,813 (82,795)
Excess (deficiency) of revenues
over expenditures(87,608) (4,813) 82,795
Other financing sources
Transfer in87,608 65,154 (22,454)
Total other financing sources87,608 65,154 (22,454)
Net change in fund balance-$ 60,341 60,341 $
Fund balance - beginning(65,341)
Fund balance (deficit) - ending(5,000) $
Village of Glenview, Illinois
Glenview Library - Component Unit - Library New Building Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance (Deficit) - Budget and Actual
For the Year Ended December 31, 2012
164
OriginalVariance
and Final2012Over /
BudgetActual(Under)
Revenues
Investment income7,000 $ 1,565 $ (5,435) $
Expenditures
Miscellaneous350,000 - (350,000)
Total expenditures350,000 - (350,000)
Net change in fund balance(343,000) $ 1,565 344,565 $
Fund balance - beginning648,651
Fund balance - ending650,216 $
Village of Glenview, Illinois
Glenview Library - Component Unit - Library Special Reserve Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
For the Year Ended December 31, 2012
OTHER SUPPLEMENTAL INFORMATION
165
Village of Glenview, Illinois
Corporate Purpose Notes Series 1997
Long-term Debt Requirements
December 31, 2012
Date of issue:September 2, 1997
Date of maturity:September 1, 2019
Authorized issue:$2,850,000
Interest rate:4.942%
Interest dates:September 1
Principal maturity date:September 1
Payable at:North Suburban Public Utility, Overland Park, Kansas
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Fiscal
Year
Ending
December 31PrincipalInterestTotal
2013153,655 $ 61,722 $ 215,377 $
2014161,249 54,128 215,377
2015169,219 46,158 215,377
2016177,582 37,795 215,377
2017186,359 29,018 215,377
2018195,569 19,808 215,377
2019205,221 10,143 215,364
1,248,854 $ 258,772 $ 1,507,626 $
Note: Debt service is payable from the North Maine Water and Sewer Fund.
Requirements
166
Village of Glenview, Illinois
General Obligation Bond Series 2004B
Long-term Debt Requirements
December 31, 2012
Date of issue:August 1, 2004
Date of maturity:December 1, 2024*
Authorized issue:22,315,000$
Denomination of bonds:5,000$
Interest rate:4.000%
Interest dates:June 1 and December 1
Principal maturity date:December 1
Payable at:Wells Fargo Bank, N.A., Chicago, IL
Fiscal
Year
Ending
December 31PrincipalInterestTotalJune 1AmountDecember 1Amount
20131,175,000 $ 96,000 $ 1,271,000 $ 201348,000 $ 201348,000 $
20141,225,000 49,000 1,274,000 201424,500 201424,500
2,400,000 $ 145,000 $ 2,545,000 $ 72,500 $ 72,500 $
Interest Due on
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Requirements
*Note: In 2012, the Village refunded Series 2004B with the proceeds from the issuance of Series 2012B. The refunding included all
principal and interest starting in 2015. The remaining Principal and interest is payable from a property tax levy.
167
Village of Glenview, Illinois
General Obligation Bond Series 2005
Long-term Debt Requirements
December 31, 2012
Date of issue:November 1, 2005
Date of maturity:December 1, 2018*
Authorized issue:10,000,000$
Denomination of bonds:5,000$
Interest rate:3.750%
Interest dates:June 1 and December 1
Principal maturity date:December 1
Payable at:Wells Fargo Bank, N.A., Chicago, IL
Fiscal
Year
Ending
December 31PrincipalInterestTotalJune 1AmountDecember 1Amount
20131,275,000 $ 47,813 $ 1,322,813 $ 201323,906 $ 201323,906 $
1,275,000 $ 47,813 $ 1,322,813 $ 23,906 $ 23,906 $
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
RequirementsInterest Due on
*Note: In 2012, the Village refunded Series 2005 with the proceeds from the issuance of Series 2012C. The refunding included all
principal and interest starting in 2014. The remaining principal and interest is payable from the Special Tax Allocation Fund.
168
Village of Glenview, Illinois
General Obligation Bond Series 2006A
Long-term Debt Requirements
December 31, 2012
Date of issue:December 1, 2006
Date of maturity:December 1, 2018
Authorized issue:10,000,000$
Denomination of bonds:5,000$
Interest rate:3.750%
Interest dates:June 1 and December 1
Principal maturity date:December 1
Payable at:Wells Fargo Bank, N.A., Chicago, IL
Fiscal
Year
Ending
December 31PrincipalInterestTotalJune 1AmountDecember 1Amount
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 $ 1,706,252 $ 11,706,252 $ 853,126 $ 853,126 $
Note: Principal and interest is payable from the Special Tax Allocation Fund.
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
RequirementsInterest Due on
169
Village of Glenview, Illinois
General Obligation Bond Series 2007A
Long-term Debt Requirements
December 31, 2012
Date of issue:December 15, 2007
Date of maturity:December 1, 2016
Authorized issue:5,000,000$
Denomination of bonds:5,000$
Interest rate:3.50% - 3.75%
Interest dates:June 1 and December 1
Principal maturity date:December 1
Payable at:Wells Fargo Bank, N.A., Chicago, IL
Fiscal
Year
Ending
December 31PrincipalInterestTotalJune 1AmountDecember 1Amount
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
2,425,000 $ 221,950 $ 2,646,950 $ 110,975 $ 110,975 $
Note: Principal and interest is payable from the Glenview Water Fund and the Glenview Sanitary Sewer Fund.
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
RequirementsInterest Due on
170
Village of Glenview, Illinois
General Obligation Bond Series 2007B
Long-term Debt Requirements
December 31, 2012
Date of issue:December 15, 2007
Date of maturity:December 1, 2016
Authorized issue:1,200,000$
Denomination of bonds:5,000$
Interest rate:4.80% - 5.00%
Interest dates:June 1 and December 1
Principal maturity date:December 1
Payable at:Wells Fargo Bank, N.A., Chicago, IL
Fiscal
Year
Ending
December 31PrincipalInterestTotalJune 1AmountDecember 1Amount
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
525,000 $ 64,788 $ 589,788 $ 32,394 $ 32,394 $
Note: Principal and interest is payable from the North Maine Water and Sewer Fund.
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
RequirementsInterest Due on
171
Village of Glenview, Illinois
General Obligation Bond Series 2009A
Long-term Debt Requirements
December 31, 2012
Date of issue:May 5, 2009
Date of maturity:December 1, 2029
Authorized issue:26,300,000$
Denomination of bonds:5,000$
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, IL
Fiscal
Year
Ending
December 31PrincipalInterestTotalJune 1AmountDecember 1Amount
20131,070,000 $ 878,831 $ 1,948,831 $ 2013439,416 $ 2013439,416 $
20141,095,000 846,731 1,941,731 2014423,366 2014423,366
20151,125,000 813,881 1,938,881 2015406,941 2015406,941
20161,155,000 780,131 1,935,131 2016390,066 2016390,066
20171,190,000 745,481 1,935,481 2017372,741 2017372,741
20181,225,000 703,831 1,928,831 2018351,916 2018351,916
20191,270,000 660,956 1,930,956 2019330,478 2019330,478
20201,310,000 616,506 1,926,506 2020308,253 2020308,253
20211,360,000 567,381 1,927,381 2021283,691 2021283,691
20221,410,000 516,381 1,926,381 2022258,191 2022258,191
20231,460,000 463,506 1,923,506 2023231,753 2023231,753
20241,520,000 408,756 1,928,756 2024204,378 2024204,378
20251,580,000 347,956 1,927,956 2025173,978 2025173,978
20261,645,000 284,756 1,929,756 2026142,378 2026142,378
20271,715,000 218,956 1,933,956 2027109,478 2027109,478
20281,785,000 150,356 1,935,356 202875,178 202875,178
20291,860,000 76,725 1,936,725 202938,363 202938,363
23,775,000 $ 9,081,121 $ 32,856,121 $ 4,540,565 $ 4,540,565 $
Note: Principal and interest is payable from proceeds of the library property tax levy.
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
RequirementsInterest Due on
172
Village of Glenview, Illinois
General Obligation Bond Series 2009D
Long-term Debt Requirements
December 31, 2012
Date of issue:October 21, 2009
Date of maturity:December 1, 2018
Authorized issue:11,290,000$
Denomination of bonds:5,000$
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, IL
Fiscal
Year
Ending
December 31PrincipalInterestTotalJune 1AmountDecember 1Amount
2013385,000 $ 219,450 $ 604,450 $ 2013109,725 $ 2013109,725 $
20141,380,000 211,750 1,591,750 2014105,875 2014105,875
20151,370,000 177,250 1,547,250 201588,625 201588,625
20161,365,000 136,150 1,501,150 201668,075 201668,075
20171,360,000 95,200 1,455,200 201747,600 201747,600
20181,360,000 54,400 1,414,400 201827,200 201827,200
7,220,000 $ 894,200 $ 8,114,200 $ 447,100 $ 447,100 $
Note: Principal and interest is payable from the Special Tax Allocation Fund.
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
RequirementsInterest Due on
173
Village of Glenview, Illinois
General Obligation Bond Series 2009E
Long-term Debt Requirements
December 31, 2012
Date of issue:October 21, 2009
Date of maturity:December 1, 2013
Authorized issue:28,125,000$
Denomination of bonds:5,000$
Interest rate:2.350%
Interest dates:June 1 and December 1
Principal maturity date:December 1
Payable at:Wells Fargo Bank, N.A., Chicago, IL
Fiscal
Year
Ending
December 31PrincipalInterestTotalJune 1AmountDecember 1Amount
201328,125,000 $ 660,938 $ 28,785,938 $ 2013330,469 $ 2013330,469 $
Note: Interest is payable from Special Tax Allocation Fund. Principal is payable from proceeds of land sales.
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
RequirementsInterest Due on
174
Village of Glenview, Illinois
General Obligation Refunding Bond, Series 2012A
Long-term Debt Requirements
December 31, 2012
Date of issue:June 14, 2012
Date of maturity:December 1, 2021
Authorized issue:18,090,000$
Denomination of bonds:5,000$
Interest rates:3.00% - 4.00%
Interest dates:June 1 and December 1
Principal maturity date:December 1
Payable at:Wells Fargo Bank, N.A., Chicago, IL
Fiscal
Year
Ending
December 31PrincipalInterestTotalJune 1AmountDecember 1Amount
2013-$ 604,800 $ 604,800 $ 2013302,400 $ 2013302,400 $
2014- 604,800 604,800 2014302,400 2014302,400
2015- 604,800 604,800 2015302,400 2015302,400
2016- 604,800 604,800 2016302,400 2016302,400
2017- 604,800 604,800 2017302,400 2017302,400
2018- 604,800 604,800 2018302,400 2018302,400
20195,850,000 604,800 6,454,800 2019302,400 2019302,400
20206,030,000 429,300 6,459,300 2020214,650 2020214,650
20216,210,000 248,400 6,458,400 2021124,200 2021124,200
18,090,000 $ 4,911,300 $ 23,001,300 $ 2,455,650 $ 2,455,650 $
Note: Principal and interest is payable from the Special Tax Allocation Fund.
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
RequirementsInterest Due on
175
Village of Glenview, Illinois
General Obligation Refunding Bond, Series 2012B
Long-term Debt Requirements
December 31, 2012
Date of issue:December 18, 2012
Date of maturity:December 1, 2024
Authorized issue:14,575,000$
Denomination of bonds:5,000$
Interest rates:3.00% - 4.00%
Interest dates:June 1 and December 1
Principal maturity date:December 1
Payable at:Wells Fargo Bank, N.A., Chicago, IL
Fiscal
Year
Ending
December 31PrincipalInterestTotalJune 1AmountDecember 1Amount
2013-$ 538,796 $ 538,796 $ 2013256,046 $ 2013282,750 $
2014- 565,500 565,500 2014282,750 2014282,750
20151,200,000 565,500 1,765,500 2015282,750 2015282,750
20161,245,000 517,500 1,762,500 2016258,750 2016258,750
20171,295,000 467,700 1,762,700 2017233,850 2017233,850
20181,365,000 415,900 1,780,900 2018207,950 2018207,950
20191,410,000 361,300 1,771,300 2019180,650 2019180,650
20201,475,000 304,900 1,779,900 2020152,450 2020152,450
20211,540,000 245,900 1,785,900 2021122,950 2021122,950
20221,605,000 184,300 1,789,300 202292,150 202292,150
20231,690,000 120,100 1,810,100 202360,050 202360,050
20241,750,000 52,500 1,802,500 202426,250 202426,250
14,575,000 $ 4,339,896 $ 18,914,896 $ 2,156,596 $ 2,183,300 $
Note: Principal and interest is payable from a property tax levy.
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
RequirementsInterest Due on
176
Village of Glenview, Illinois
General Obligation Refunding Bond, Series 2012C
Long-term Debt Requirements
December 31, 2012
Date of issue:December 18, 2012
Date of maturity:December 1, 2018
Authorized issue:7,730,000$
Denomination of bonds:5,000$
Interest rates:2.00% - 3.00%
Interest dates:June 1 and December 1
Principal maturity date:December 1
Payable at:Wells Fargo Bank, N.A., Chicago, IL
Fiscal
Year
Ending
December 31PrincipalInterestTotalJune 1AmountDecember 1Amount
2013-$ 194,224 $ 194,224 $ 201392,299 $ 2013101,925 $
20141,365,000 203,850 1,568,850 2014101,925 2014101,925
20151,440,000 176,550 1,616,550 201588,275 201588,275
20161,540,000 147,750 1,687,750 201673,875 201673,875
20171,650,000 101,550 1,751,550 201750,775 201750,775
20181,735,000 52,050 1,787,050 201826,025 201826,025
7,730,000 $ 875,974 $ 8,605,974 $ 433,174 $ 442,800 $
Note: Principal and interest is payable from the Special Tax Allocation Fund.
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
RequirementsInterest Due on
177
Village of Glenview, Illinois
Combining Balance Sheet
Glenview Naval Air Station (GNAS) Redevelopment Area Funds
December 31, 2012
Special RevenueCapital Projects
FundFundTotal
Special GlenGNAS
TaxCapitalRedevelopment
AllocationProjectsArea
Assets
Cash and cash equivalents9,412,185 $ 433,300 $ 9,845,485 $
Investments2,758,050 8,167,875 10,925,925
Receivables, net of allowance
Other receivables620 22,229 22,849
Prepaid items64,508 - 64,508
Land held for resale23,891,262 - 23,891,262
Notes receivable1,873,667 - 1,873,667
Total assets38,000,292 $ 8,623,404 $ 46,623,696 $
Liabilities and Fund Balances
Liabilities
Accounts payable15,362,250 $ 1,280 $ 15,363,530 $
Accrued payroll7,950 - 7,950
Other payables4,300,000 100,124 4,400,124
Deferred revenues3,750 - 3,750
Advances from other funds15,214,941 - 15,214,941
Total liabilities34,888,891 101,404 34,990,295
Fund balances3,111,401 8,522,000 11,633,401
Total liabilities and
fund balances38,000,292 $ 8,623,404 $ 46,623,696 $
178
Village of Glenview, Illinois
Combining Schedule of Revenues, Expenditures, and Changes in Fund Balances
Glenview Naval Air Station (GNAS) Redevelopment Area Funds
For the Year Ended December 31, 2012
Special RevenueCapital Projects
FundFundTotal
Special GlenGNAS
TaxCapitalRedevelopment
AllocationProjectsArea
Revenues
Local taxes
Property taxes - incremental26,283,659 $ -$ 26,283,659 $
Charges for services17,180 - 17,180
Intergovernmental143,182 22,117 165,299
Other revenues- 3,009 3,009
Investment income133,801 22,768 156,569
Total revenues26,577,822 47,894 26,625,716
Expenditures
Current
General government23,263,828 - 23,263,828
Capital outlay- 311,815 311,815
Debt service
Bond issuance costs92,160 - 92,160
Principal7,045,000 - 7,045,000
Interest and fiscal charges2,460,539 - 2,460,539
Total expenditures32,861,527 311,815 33,173,342
Deficiency of revenues over expenditures(6,283,705) (263,921) (6,547,626)
Other financing sources (uses)
Payment to bond escrow agent(27,796,231) - (27,796,231)
Proceeds from bond issuance25,820,000 - 25,820,000
Premium on bond issuance2,075,642 - 2,075,642
Transfers (out)(273,379) - (273,379)
Total other financing sources (uses)(173,968) - (173,968)
Net change in fund balances(6,457,673) (263,921) (6,721,594)
Fund balances
Beginning9,569,074 8,785,921 18,354,995
Ending3,111,401 $ 8,522,000 $ 11,633,401 $
179
Village of Glenview, Illinois
Index to Statistical Section
December 31, 2012
This part of the Village of Glenview's comprehensive annual financial report presents detailed information
as a context for understanding what the information in the financial statements, note disclosures, and
required supplementary information says about the Village's overall financial health.
Page
Financial Trends
These schedules contain trend information to help the reader understand how the
Village's financial performance and well-being have changed over time. 180 - 189
Revenue Capacity
These schedules contain information to help the reader assess the Village's most
significant local revenue sources. 190 - 197
Debt Capacity
These schedules present information to help the reader assess the affordability of the
Village's current levels of outstanding debt and the Village's ability to issue additional
debt in the future. 198 - 201
Demographic and Economic Information
These schedules offer demographic and economic indicators to help the reader
understand the environment within which the Village's financial activities take place. 202 - 203
Operating Information
These schedules contain service and infrastructure data to help the reader understand
how the information in the Village's financial report relates to the services the Village
provides and the activities it performs. 204 - 208
Sources: Unless otherwise noted, the information in these schedules is derived from the comprehensive
annual financial reports for the relevant year. The Village implemented GASB Statement 34 in fiscal year
2003; schedules presenting government-wide information include information beginning in that year.
180
Village of Glenview, Illinois
Net Position
Last Ten Fiscal Years
20032004200520062007
Governmental activities
Invested in capital assets, net of
related debt47,651,206$ 28,587,161$ 78,806,902$ 95,946,179$ 83,298,383$
Restricted57,086,081 82,555,054 26,303,618 53,518,524 54,229,537
Unrestricted23,515,126 34,693,402 58,039,098 38,168,571 55,636,297
Total governmental activities128,252,413$ 145,835,617$ 163,149,618$ 187,633,274$ 193,164,217$
Business-type activities
Invested in capital assets, net of
related debt25,625,660$ 25,037,005$ 29,095,596$ 42,488,713$ 40,143,214$
Unrestricted15,802,389 13,235,513 12,594,422 7,552,672 12,344,058
Total business-type activities41,428,049$ 38,272,518$ 41,690,018$ 50,041,385$ 52,487,272$
Total primary government
Invested in capital assets, net of
related debt73,276,866$ 53,624,166$ 107,902,498$ 138,434,892$ 123,441,597$
Restricted57,086,081 82,555,054 26,303,618 53,518,524 54,229,537
Unrestricted39,317,515 47,928,915 70,633,520 45,721,243 67,980,355
Total primary government169,680,462$ 184,108,135$ 204,839,636$ 237,674,659$ 245,651,489$
Source: The Village of Glenview's Comprehensive Annual Financial Report
181
20082009201020112012
78,477,141$ 87,607,488$ 93,936,562$ 102,217,913$ 109,488,722$
49,074,532 39,881,012 29,923,363 23,711,651 45,978,154
68,560,085 69,018,535 66,754,133 68,927,169 42,720,345
196,111,758$ 196,507,035$ 190,614,058$ 194,856,733$ 198,187,221$
43,348,719$ 45,206,019$ 51,450,402$ 55,566,298$ 56,331,598$
10,612,213 7,860,336 2,104,898 5,373,918 7,475,383
53,960,932$ 53,066,355$ 53,555,300$ 60,940,216$ 63,806,981$
121,825,860$ 132,813,507$ 145,386,964$ 157,784,211$ 165,820,320$
49,074,532 39,881,012 29,923,363 23,711,651 45,978,154
79,172,298 76,878,871 68,859,031 74,301,087 50,195,728
250,072,690$ 249,573,390$ 244,169,358$ 255,796,949$ 261,994,202$
182
Village of Glenview, Illinois
Changes in Net Position
Last Ten Fiscal Years
20032004200520062007
Expenses
Governmental activities
General government16,286,886 $ 20,361,570 $ 20,282,723 $ 13,929,198 $ 24,038,572 $
Public safety19,048,844 19,521,633 25,343,033 28,395,261 25,405,356
Highways and streets79,331,667 8,916,140 13,493,770 27,582,335 21,897,066
Public works- - - - -
Development- - - - -
Interest on long-term debt3,724,873 4,446,952 5,066,331 4,813,795 6,751,793
Total governmental activities expenses118,392,270 53,246,295 64,185,857 74,720,589 78,092,787
Business-type activities
Water services6,160,140 7,514,285 9,874,399 8,168,894 8,241,841
North Maine water and sewer services5,042,768 5,021,042 4,923,144 5,396,165 5,822,693
Sanitary sewer services635,561 921,736 1,083,937 1,544,514 1,221,484
Wholesale water1,038,073 935,242 1,178,948 1,146,800 1,675,442
Commuter parking196,475 335,308 412,459 433,318 458,586
Total business-type activities expenses13,073,017 14,727,613 17,472,887 16,689,691 17,420,046
Total primary gvernment expenses131,465,287 $ 67,973,908 $ 81,658,744 $ 91,410,280 $ 95,512,833 $
Program revenues
Governmental activities
Charges for services
General government1,825,112 $ 4,844,398 $ 9,613,146 $ 10,124,924 $ 5,088,121 $
Public safety184,334 3,751,639 3,826,995 4,059,578 4,104,495
Public works- - - - -
Development- - - - -
Operating grants and contributions- 1,323,171 1,684,597 1,576,594 2,644,741
Capital grants and contributions2,628,122 4,188,201 2,603,905 702,691 1,473,479
Total governmental activities program revenues4,637,568 14,107,409 17,728,643 16,463,787 13,310,836
Business-type activities
Charges for services - water and sewer
Water services8,739,735 7,446,294 8,726,117 7,654,017 8,251,413
North Maine water and sewer services6,806,352 5,532,457 5,872,657 5,928,523 6,418,577
Sanitary sewer services1,252,398 1,054,923 1,576,519 1,430,401 1,762,694
Wholesale water1,709,155 1,655,339 1,707,316 1,692,776 1,522,626
Commuter parking300,717 374,653 450,026 415,687 484,393
Operating grants and contributions- - - - -
Capital grants and contributions- - - - 73,908
Total business-type activities
program revenues18,808,357 16,063,666 18,332,635 17,121,404 18,513,611
Total primary government program revenues23,445,925 $ 30,171,075 $ 36,061,278 $ 33,585,191 $ 31,824,447 $
Net (expense) revenue
Governmental activities(113,754,702) $ (39,138,886) $ (46,457,214) $ (58,256,802) $ (64,781,951) $
Business-type activities5,735,340 1,336,053 859,748 431,713 1,093,565
Total primary government net (expense) revenue(108,019,362) $ (37,802,833) $ (45,597,466) $ (57,825,089) $ (63,688,386) $
Fiscal Year
183
20082009201020112012
27,195,744 $ 29,780,621 $ 32,335,971 $ 33,989,230 $ 40,172,192 $
27,622,472 26,456,771 30,475,113 25,769,097 27,145,548
- - - - -
13,998,908 12,741,129 13,981,277 8,581,360 6,670,428
7,306,324 8,467,340 12,198,120 10,029,890 6,421,304
6,068,865 6,001,886 4,085,152 3,353,913 2,984,565
82,192,313 83,447,747 93,075,633 81,723,490 83,394,037
8,254,541 7,733,048 9,265,407 8,795,466 10,339,739
6,148,151 5,782,216 6,267,880 6,197,752 7,399,749
1,473,318 1,238,383 1,948,357 1,801,454 1,729,509
1,110,176 1,074,812 1,083,206 1,119,994 1,157,835
381,133 476,940 383,196 386,244 449,674
17,367,319 16,305,399 18,948,046 18,300,910 21,076,506
99,559,632 $ 99,753,146 $ 112,023,679 $ 100,024,400 $ 104,470,543 $
3,230,320 $ 2,324,730 $ 3,931,687 $ 3,854,148 $ 3,564,720 $
4,076,188 5,274,319 5,345,151 5,195,936 4,967,056
- - - - 945,812
2,020,840 3,218,677 3,993,971 2,015,239 850,749
1,401,777 1,172,899 1,662,479 1,832,805 1,960,093
- 1,267,384 2,362,508 2,439,618 746,987
10,729,125 13,258,009 17,295,796 15,337,746 13,035,417
8,135,293 8,370,780 9,045,480 9,751,605 11,351,729
6,824,636 7,206,186 7,473,673 8,120,035 8,229,828
1,570,372 1,831,857 2,114,548 2,314,028 2,523,022
1,863,483 1,782,495 1,997,367 2,156,636 2,063,759
466,356 529,886 524,244 525,991 526,212
- - - 27,854 -
- - - - -
18,860,140 19,721,204 21,155,312 22,896,149 24,694,550
29,589,265 $ 32,979,213 $ 38,451,108 $ 38,233,895 $ 37,729,967 $
(71,463,188) $ (70,189,738) $ (75,779,837) $ (66,385,744) $ (70,358,620) $
1,492,821 3,415,805 2,207,266 4,595,239 3,618,044
(69,970,367) $ (66,773,933) $ (73,572,571) $ (61,790,505) $ (66,740,576) $
Fiscal Year
184
Village of Glenview, Illinois
Changes in Net Position (Continued)
Last Ten Fiscal Years
20032004200520062007
General revenues and other changes in net position
Governmental activities
Taxes
Property taxes14,983,339 $ 20,500,281 $ 27,379,366 $ 31,368,247 $ 29,533,794 $
Other taxes6,354,530 865,343 8,932,829 7,674,636 7,938,804
Sales taxes10,830,776 13,588,877 16,410,735 17,797,774 18,238,196
Income taxes2,593,235 2,659,483 3,521,197 3,342,154 3,933,680
Intergovernmental7,154,252 6,385,543 739,758 801,157 959,789
Investment income2,941,206 1,093,764 2,911,937 3,553,730 7,202,556
Miscellaneous1,012,998 1,637,093 367,096 271,124 2,473,480
Gain on sale of capital assets8,844,386 2,829,367 91,504 18,899,176 467,801
Transfers2,817,860 958,460 167,762 (4,697,121) (989,499)
Contributions2,137,129 5,130,113 3,687,472 - -
Total governmental activities 59,669,711 55,648,324 64,209,656 79,010,877 69,758,601
Business-type activities
Investment income93,243 97,800 252,200 427,441 351,186
Miscellaneous1,165,984 - 75,102 18,166 33,313
Gain (loss) on sale of capital assets- - (4,142) (48,424) (21,676)
Transfers(2,708,503) - (167,762) 4,697,721 989,499
Total Business-type activities (1,449,276) 97,800 155,398 5,094,904 1,352,322
Total primary government58,220,435 $ 55,746,124 $ 64,365,054 $ 84,105,781 $ 71,110,923 $
Change in net position
Governmental activities(56,222,120) $ 17,467,898 $ 14,077,300 $ 20,753,475 $ 4,977,650 $
Business-type activities6,423,193 475,393 4,690,288 5,526,617 2,445,887
Total primary government change in net position(49,798,927) $ 17,943,291 $ 18,767,588 $ 26,280,092 $ 7,423,537 $
Source: The Village of Glenview's Comprehensive Annual Financial Report.
Fiscal Year
185
20082009201020112012
37,030,734 $ 33,863,907 $ 34,759,914 $ 40,146,639 $ 37,275,705 $
7,213,927 12,659,075 12,962,485 13,257,071 13,495,498
18,649,183 11,943,633 12,336,353 12,792,723 13,091,218
4,207,152 3,612,282 3,497,759 3,823,315 3,962,313
1,486,645 2,519,306 2,772,575 2,502,500 2,614,374
2,234,453 975,360 731,839 397,478 860,108
3,301,455 611,793 470,187 464,084 1,562,876
- - - - -
287,180 4,399,659 1,777,004 (2,755,391) 827,016
- - - - -
74,410,729 70,585,015 69,308,116 70,628,419 73,689,108
232,871 60,349 24,419 26,807 33,790
35,148 28,928 (18,808) 7,479 41,947
- - - -
(287,180) (4,399,659) (1,723,932) 2,755,391 (827,016)
(19,161) (4,310,382) (1,718,321) 2,789,677 (751,279)
74,391,568 $ 66,274,633 $ 67,589,795 $ 73,418,096 $ 72,937,829 $
2,947,541 $ 395,277 $ (6,471,721) $ 4,242,675 $ 3,330,488 $
1,473,660 (894,577) 488,945 7,384,916 2,866,765
4,421,201 $ (499,300) $ (5,982,776) $ 11,627,591 $ 6,197,253 $
Fiscal Year
186
Village of Glenview, Illinois
Fund Balances of Governmental Funds
Last Ten Fiscal Years
Fiscal Year
20032004200520062007
General Fund
Reserved-$ 30,860 $ 150,800 $ 250,974 $ 202,583 $
Unreserved17,873,812 19,125,436 28,919,794 23,543,445 18,625,051
Nonspendable- - - - -
Unassigned- - - - -
Total General Fund17,873,812 19,156,296 29,070,594 23,794,419 18,827,634
All other governmental funds
Reserved57,272,861 95,327,109 60,405,636 68,100,595 70,662,782
Unreserved, reported in
Special revenue funds2,394,290 2,508,852 (2,175,404) 3,098,776 (2,172,942)
Capital project funds(2,557,215) (51,450) 400,940 37,589 (33,701)
Debt service funds(5,172,490) (11,871,587) (16,480,597) 13,962,128 14,513,477
Nonspendable- - - - -
Restricted- - - - -
Total all other governmental
funds51,937,446 85,912,924 42,150,575 85,199,088 82,969,616
Total fund balances -
governmental funds69,811,258 $ 105,069,220 $ 71,221,169 $ 108,993,507 $ 101,797,250 $
Source: The Village of Glenview's Comprehensive Annual Financial Report.
187
20082009201020112012
236,776 $ 82,583 $ 82,583 $ -$ -$
15,965,220 20,044,782 21,994,901 - -
- - - 131,424 195,280
- - - 24,086,602 25,564,806
16,201,996 20,127,365 22,077,484 24,218,026 25,760,086
66,882,660 59,293,215 49,720,439 - -
1,495,858 1,832,064 (921,028) - -
14,453,200 10,053,987 10,057,895 - -
(77,170) 15,676 30,942 - -
- - - - 64,508
- - - 52,257,800 45,978,154
82,754,548 71,194,942 58,888,248 52,257,800 46,042,662
98,956,544 $ 91,322,307 $ 80,965,732 $ 76,475,826 $ 71,802,748 $
188
Village of Glenview, Illinois
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
Fiscal Year
20032004200520062007
Revenues
Taxes21,337,869 $ 28,087,345 $ 38,404,632 $ 40,230,230 $ 40,995,097 $
Intergovernmental 20,578,263 25,352,795 25,621,631 25,820,915 26,398,055
Charges for services2,757,078 3,184,513 8,197,463 3,125,289 3,347,415
Licenses and permits1,671,554 2,128,826 1,935,601 1,444,631 1,317,359
Fines and forfeitures208,936 249,956 223,917 223,430 242,596
Investment income2,941,206 1,814,903 3,863,413 3,766,390 6,139,481
Miscellaneous
Land sales8,919,398 2,893,460 - 18,899,176 1,003,082
Other1,012,998 741,306 696,380 732,406 1,892,301
Total revenues59,427,302 64,453,104 78,943,037 94,242,467 81,335,386
Expenditures
General government16,342,726 20,690,822 17,362,221 23,179,532 24,981,918
Public safety18,536,695 19,439,605 24,629,821 23,480,423 25,418,302
Highways and streets7,083,597 7,380,427 10,227,675 9,257,360 12,229,547
Public works- - - - -
Development- - - - -
Debt service
Principal4,700,000 4,762,700 9,124,652 9,490,000 9,885,000
Interest and fiscal charges3,726,545 4,986,212 6,075,973 5,764,058 6,678,361
Bond issuance costs- - 104,718 110,099 -
Capital outlay70,331,142 19,988,453 46,376,551 18,451,941 8,918,984
Miscellaneous- - - - -
Total expenditures120,720,705 77,248,219 113,901,611 89,733,413 88,112,112
Excess of revenues over (under)
expenditures(61,293,403) (12,795,115) (34,958,574) 4,509,054 (6,776,726)
Other financing sources (uses)
Transfers in38,815,909 23,756,688 21,885,794 32,556,673 34,081,992
Transfers out(35,975,800) (22,798,228) (21,718,032) (37,162,062) (35,071,491)
Bonds issued6,150,000 47,315,000 10,000,000 37,940,000 -
Discounts on bonds issued(79,919) (164,724) - (87,732) -
Premium on bonds issued- 65,614 44,658 11,371 -
Payment to escrow agent(4,767,130) - (10,000,000) - -
Sale of capital assets- 37,801 91,504 5,035 15,675
Total other financing sources (uses)4,143,060 48,212,151 303,924 33,263,285 (973,824)
Net change in fund balances(57,150,343) $ 35,417,036 $ (34,654,650) $ 37,772,339 $ (7,750,550) $
Debt service as a percentage of
noncapital expenditures16.34%12.43%22.51%18.28%20.92%
Source: The Village of Glenview's Comprehensive Annual Financial Report.
189
20082009201020112012
49,775,754 $ 46,522,982 $ 47,721,989 $ 53,403,710 $ 50,771,203 $
23,994,061 23,236,550 25,493,952 26,342,403 24,796,132
3,879,939 5,787,188 6,892,913 6,111,175 6,519,625
1,492,506 2,441,730 3,190,826 1,859,161 1,923,238
174,506 189,433 134,783 181,361 224,198
2,234,453 975,370 731,839 397,478 422,751
3,126,283 - - -
175,172 46,804 219,046 205,014 709,998
84,852,674 79,200,057 84,385,348 88,500,302 85,367,145
26,494,899 27,133,683 29,090,926 31,153,019 38,411,652
26,685,166 25,745,800 27,884,435 25,710,435 26,369,673
- - - - -
7,656,205 7,918,533 7,811,605 7,883,609 7,036,995
3,892,684 6,058,864 5,723,642 4,293,220 1,261,328
9,335,000 9,660,000 9,740,000 10,051,617 8,208,235
6,011,806 5,304,081 4,246,896 3,762,159 3,279,464
- 37,153 - 38,818 139,044
9,593,304 8,858,147 12,030,923 8,336,649 6,060,977
- - - - -
89,669,064 90,716,261 96,528,427 91,229,526 90,767,368
(4,816,390) (11,516,204) (12,143,079) (2,729,224) (5,400,223)
20,474,754 19,116,695 15,678,978 31,368,232 6,281,471
(18,499,070) (15,420,632) (13,901,974) (33,163,914) (5,702,833)
- 39,838,247 - 11,035,000 40,395,000
- - - - -
- - - - 4,432,391
- (39,652,343) - (11,000,000) (44,678,884)
- - 9,500 - -
1,975,684 3,881,967 1,786,504 (1,760,682) 727,145
(2,840,706) $ (7,634,237) $ (10,356,575) $ (4,489,906) $ (4,673,078) $
17.87%18.33%16.55%15.71%13.28%
190
Village of Glenview, Illinois
Assessed Value and Actual Value of Taxable Property
Last Ten Levy Years
LevyResidentialCommercialIndustrial
YearPropertyPropertyPropertyRailroadFarm
2002 1,150,749,328$ 316,958,308$ 139,565,768$ 160,583$ 80,255$
2003 1,168,628,313 320,373,025 141,049,675 154,176 52,653
2004 1,583,440,346 462,293,352 202,403,525 196,030 589
20051,753,091,650 507,205,734 255,723,046 184,075 589
20061,478,823,650 477,703,360 213,822,559 184,075 589
20071,878,422,371 572,300,107 242,310,888 202,163 589
20082,026,139,779 638,159,198 248,243,038 221,084 589
20092,198,443,085 595,701,792 207,259,989 266,417 368
20102,298,836,300 388,196,316 27,515,890 333,270 368
20111,763,765,871499,476,841184,570,112354,177-
Data Source
Office of the County Clerk
Note : Property in the Village is reassesed each year. Property is assessed at 33% of actual value.
N/A - Information is not available as of the date of this report.
191
TotalEstimatedEstimated
Total TaxableDirectActualActual
AssessedTaxTaxableTaxable
ValueRateValueValue
1,607,514,242$ 5.12 4,822,542,726$ 33.333%
1,630,257,842 5.04 4,890,773,526 33.333%
2,248,333,842 4.27 6,745,001,526 33.333%
2,516,205,094 4.21 7,548,615,282 33.333%
2,170,534,233 4.15 6,511,602,699 33.333%
2,693,236,118 3.69 8,079,708,354 33.333%
2,912,763,688 3.50 8,738,291,064 33.333%
3,001,671,651 3.62 9,005,014,953 33.333%
2,714,882,144 4.08 8,144,646,432 33.333%
2,448,167,001 4.567,344,501,003 33.333%
192
Village of Glenview, Illinois
Direct and Overlapping Property Tax Rates
Last Ten Levy Years
20022003200420052006
Village of Glenview
Corporate0.288 0.259 0.214 0.252 0.184
Bonds and interest0.113 0.112 0.076 0.074 0.099
Police pension0.043 0.049 0.048 0.045 0.060
Fire pension0.036 0.046 0.047 0.051 0.072
IMRF0.032 0.038 0.043 - -
Total direct tax rate0.512 0.504 0.428 0.422 0.415
Glenview Public Library0.270 0.293 0.259 0.249 0.246
Glenview Special Service Area #90.588 0.487 0.406 0.402 0.284
Glenview Special Service Area #100.628 0.511 0.427 0.421 0.293
Glenview Special Service Area #110.239 0.214 0.169 0.160 0.160
Glenview Special Service Area #120.511 0.365 0.285 0.252 0.242
Glenview Special Service Area #170.588 0.550 0.374 0.317 0.324
Glenview Special Service Area #180.521 0.461 0.388 0.363 0.363
Glenview Special Service Area #200.294 0.275 0.236 0.219 0.217
Glenview Special Service Area #220.304 0.290 0.214 0.196 0.193
Glenview Special Service Area #240.570 0.535 0.538 0.507 -
Glenview Special Service Area #271.622 - - - -
Glenview Special Service Area #310.486 0.237 - - -
Glenview Special Service Area #320.115 0.095 0.086 0.081 0.082
Glenview Special Service Area #330.630 0.590 0.456 0.427 0.440
Glenview Special Service Area #350.394 0.370 0.313 0.284 0.292
Glenview Special Service Area #36- - 0.233 0.200 0.191
Glenview Special Service Area #37- - 0.207 0.176 0.163
Glenview Special Service Area #38- - - - -
Glenview Special Service Area #40- - - - -
Glenview Special Service Area #41- - - - -
Glenview Special Service Area #42- - - - -
Glenview Special Service Area #43- - - - -
Glenview Special Service Area #44- - - - -
Glenview Special Service Area #45- - - - -
Glenview Special Service Area #46- - - - -
Glenview Special Service Area #47- - - - -
Glenview Special Service Area #49- - - - -
Glenview Special Service Area #50- - - - -
Glenview Special Service Area #51- - - - -
Glenview Special Service Area #52- - - - -
Glenview Special Service Area #53- - - - -
Glenview Special Service Area #54- - - - -
Glenview Special Service Area #55- - - - -
Glenview Special Service Area #56- - - - -
Glenview Special Service Area #57- - - - -
Glenview Special Service Area #61- - - - -
Glenview Special Service Area #62- - - - -
Glenview Special Service Area #63- - - - -
193
20072008200920102011
0.184 0.174 0.148 0.162 0.177
0.072 0.068 0.068 0.076 0.084
0.049 0.040 0.060 0.065 0.074
0.064 0.068 0.085 0.105 0.120
- - - - -
0.369 0.350 0.361 0.408 0.455
0.149 0.195 0.210 0.253 0.303
0.227 0.200 0.093 - -
0.238 0.209 0.100 - -
0.127 0.175 - - -
0.172 0.159 - - -
0.192 0.192 0.177 0.210 0.115
0.269 0.242 0.221 0.280 0.148
0.180 0.160 0.155 0.165 -
0.137 0.129 0.117 0.142 -
- - - - -
- - - - -
- - - - -
0.075 0.068 0.073 0.074 0.082
0.349 0.308 0.287 0.333 0.370
0.243 0.207 0.204 0.223 0.233
0.143 0.127 0.108 0.138 0.153
0.122 0.118 0.102 0.117 0.133
- - - 0.844 0.894
- - - - 0.079
- - - - 0.079
- - - 0.406 0.440
- - - - 0.122
- - - - 0.168
- - - - 0.444
- - - - 0.598
- - - 0.546 0.568
- - - - 0.241
- - - - 0.130
- - - - 0.279
- - - - 0.141
- - - - 1.035
- - - - 0.695
- - - 0.423 0.410
- - - 0.903 0.971
- - - 0.538 0.566
- - - - 0.188
- - 0.165 0.213 0.228
- - 0.183 0.232 0.245
(Continued)
194
Village of Glenview, Illinois
Direct and Overlapping Property Tax Rates (Continued)
Last Ten Levy Years
20022003200420052006
Avoca School District #372.420 2.362 1.991 1.934 2.008
County Consolidated Elections- 0.029 - 0.014 -
County of Cook 0.680 0.630 0.593 0.533 0.500
East Maine School District #63 2.694 2.609 2.624 2.542 2.617
Forest Preserve District 0.061 0.059 0.060 0.060 0.057
Glenview Park District 0.492 0.516 0.505 0.490 0.511
Glenview School District #34 2.509 2.552 2.330 2.259 2.334
Golf School District #672.272 2.338 2.129 2.041 2.094
Maine High School #2072.026 2.012 1.795 1.757 1.826
Maine Township - General 0.079 0.079 0.071 0.070 0.073
Maine Township - General Assistance0.015 0.016 0.015 0.015 0.016
Maine Township - Road and Bridge0.039 0.040 0.036 0.036 0.038
Metropolitan Water Reclamation Dist.0.371 0.361 0.347 0.315 0.284
New Trier High School #2031.611 1.799 1.621 1.577 1.662
New Trier Township - General 0.044 0.045 0.037 0.037 0.073
New Trier Township - General Assistance 0.002 0.003 0.002 0.002 0.003
Niles High School #219 1.860 2.090 2.013 2.007 2.374
Niles Township - General 0.033 0.033 0.030 0.029 0.031
Niles Township - General Assistance 0.003 0.003 0.003 0.002 0.003
North Shore Mosquito Abatement 0.010 0.009 0.008 0.008 0.009
Northbrook School District #30 2.659 2.745 2.416 2.331 2.471
Northfield High School #225 1.682 1.736 1.516 1.475 1.623
Northfield Township - General 0.015 0.009 0.012 0.011 0.011
Oakton Community College #535 0.179 0.186 0.161 0.158 0.166
Suburban T.B. Sanitarium 0.006 0.004 0.001 0.005 0.005
West Northfield School District #31 1.631 1.811 1.605 1.542 1.624
Wilmette School District #39 2.742 2.707 2.238 2.151 2.261
Northfield Township - Road and Bridge 0.035 0.037 0.033 0.033 0.035
Northfield Township - General Assistance 0.002 0.010 0.006 0.008 0.008
Northfield Woods Sanitary District 0.007 0.062 0.055 0.053 0.056
North Maine Fire Protection District 1.030 0.862 0.717 0.785 0.914
Northbrook Park District 0.449 0.459 0.410 0.385 0.406
Oak Meadow Sanitary District 0.009 0.059 0.048 0.045 0.045
Northwest Mosquito Abatement 0.010 0.010 0.009 0.009 0.009
Data Source
Office of the County Clerk
*Property tax rates are per $100 of assessed valuation
195
20072008200920102011
1.594 1.755 1.698 2.022 2.281
0.012 - 0.021 - 0.025
0.446 0.415 0.394 0.423 0.462
2.276 2.233 2.235 2.499 2.775
0.053 0.051 0.049 0.051 0.058
0.429 0.429 0.422 0.483 0.538
1.953 1.909 1.876 2.160 2.429
1.859 1.807 1.943 2.203 2.449
1.602 1.577 1.617 1.782 1.995
0.065 0.064 0.067 0.075 0.085
0.002 0.015 0.016 0.018 0.021
0.034 0.033 0.034 0.038 0.043
0.263 0.252 0.261 0.274 0.320
1.299 1.290 1.237 1.474 1.674
0.031 0.031 0.030 0.037 0.042
0.003 0.003 0.003 0.004 0.005
2.114 2.120 2.267 2.538 2.904
0.027 0.027 0.029 0.032 0.037
0.003 0.003 0.003 0.004 0.005
0.008 0.008 0.008 0.009 0.010
2.138 2.089 2.089 2.327 2.641
1.403 1.383 1.395 1.609 1.819
0.010 0.009 0.010 0.013 0.020
0.141 0.140 0.140 0.160 0.196
- - - - -
1.405 1.402 1.494 1.730 2.018
1.848 1.812 1.716 2.314 2.620
0.030 0.030 0.031 0.036 0.041
0.008 0.009 0.010 0.011 0.008
0.049 0.049 0.054 0.067 0.079
0.882 0.986 1.112 1.254 1.366
0.342 0.332 0.334 0.375 0.424
0.004 0.037 0.038 0.045 0.051
0.008 0.008 0.008 0.009 0.010
196
Village of Glenview, Illinois
PercentagePercentage
of Totalof Total
VillageVillage
TaxableTaxableTaxableTaxable
AssessedAssessedAssessedAssessed
TaxpayerValueRankValuationValueRankValuation
Kraft USA37,078,034$ 1 1.51%45,491,405$ 1 2.93%
Grubb & Ellis35,635,243 2 1.46%21,819,886 2 1.41%
Oliver McMillan LLC27,555,654 3 1.13%-
Mid America Asset22,515,372 4 0.92%16,070,867 4 1.04%
Cole Real Estate Investments17,440,036 5 0.71%- 0.00%
Abt Electronics16,130,438 6 0.66%- 0.00%
Signode, Division of ITW14,912,370 7 0.61%- 0.00%
Vi (Classic, Residence Hyatt)14,710,987 8 0.60%16,206,175 3 1.04%
Anixter, Inc.14,542,335 9 0.59%-
AGF Sanders Office14,198,366 10 0.58%-
Parkside Senior Services- 8,601,411 7 0.55%
Wyndham International- 11,603,435 5 0.75%
Heatherfield Cen LLC- 6,660,34510 0.43%
Sanders 2100 LP- 6,808,6999 0.44%
Pearson Tax Department- 11,490,3246 0.74%
Target Corp. T1167- 7,726,5268 0.50%
214,718,835$ 8.77%152,479,073$ 9.83%
Note: Every effort has been made to seek out and report the largest taxpayers. However, many of the taxpayers
own multiple parcels, and it is possible that some parcels and their valuations have been overlooked.
Principal Property Taxpayers
Current Year and Nine Years Ago
20122003
197
Village of Glenview, Illinois
Property Tax Levies and Collections
Last Ten Tax Levy Years
PropertySubsequent
LevyFiscalTaxesTaxesPercentageYearTaxesPercentage
YearYearLeviedReceivedof LevyCollectionsReceivedof Levy
2002200312,562,794$ 12,520,624$ 99.66%33,50712,554,131$ 99.93%
2003200413,000,620 12,445,914 95.73%374,47812,820,39298.61%
2004200513,218,991 13,094,363 99.06%(103,057)12,991,30698.28%
2005200614,322,402 11,957,340 83.49%2,112,38914,069,72998.24%
2006200714,322,403 12,857,920 89.77%1,258,74014,116,66098.56%
2007200813,919,457 13,398,159 96.25%163,38013,561,53997.43%
2008200915,858,539 15,345,443 96.76%191,93115,537,37497.97%
2009201017,136,858 16,810,757 98.10%91,50416,902,26198.63%
2010201117,919,376 17,269,565 96.37%557,02817,826,59399.48%
2011201218,561,309 18,202,205 98.07%- 18,202,20598.07%
Source: Office of the County Clerk
Note: Property in the Village is assessed annually. Property is assessed at approximately 33% of the actual value on
January 1 and property taxes are levied in December of the tax levy year.
Collected within the
Fiscal Year after the Levy
Total Collections
Per Levy
198
Village of Glenview, Illinois
Ratios of Outstanding Debt by Type
Last Ten Fiscal Years
Governmental ActivitiesBusiness-Type ActivitiesPercentageTotal
FiscalGeneralSpecialGeneral of Outstanding
YearObligationServiceObligationNotesTotalPersonal Debt Per
EndedBondsAreaBondsPayableVillageIncome*Capita*
200386,980,000$ -$ 7,030,000$ 2,343,822$ 96,353,822$ 5.80%2,302 $
2004128,485,155 - 7,579,845 2,244,283 138,309,283 7.17%3,112
2005119,275,000 85,503 6,699,933 2,139,824 128,200,260 6.65%2,884
2006147,725,000 75,696 6,479,304 2,030,203 156,310,203 8.07%3,500
2007137,840,000 65,713 12,099,287 1,915,164 151,920,164 7.84%3,402
2008128,505,000 - 10,889,470 1,794,439 141,188,909 7.32%3,177
2009118,865,000 - 9,629,897 1,667,748 130,162,645 6.75%2,996
2010109,125,000 - 4,750,000 1,534,796 115,409,796 4.96%2,582
201199,115,000 - 3,860,000 1,395,273 104,370,273 4.39%2,335
201289,415,000 - 2,950,000 1,248,854 93,613,854 4.03%2,095
Source: The Village of Glenview's Comprehensive Annual Financial Report.
* Additional demographic information is available in the schedule of Demographic and Economic Statistics.
199
Village of Glenview, Illinois
Ratios of General Bonded Debt Outstanding
Last Ten Fiscal Years
Percentage of
Assessed
GeneralLessTaxableDebt
FiscalObligationDebtValue ofPer
YearBondsService FundsTotalProperty (1)Capita (2)
200394,010,000$ -$ 94,010,000$ 5.94%2,729 $
2004136,065,000 3,242,038 132,822,962 8.15%3,795
2005125,974,933 2,075,383 123,899,550 7.08%3,540
2006154,204,304 4,643,867 149,560,437 6.89%4,273
2007149,939,287 2,870,654 147,068,633 5.46%4,202
2008139,394,470 1,649,841 137,744,629 4.73%3,099
2009128,494,897 15,676 128,479,221 4.28%2,890
2010113,875,000 - 113,875,000 3.79%2,548
2011102,975,000 - 102,975,000 3.79%2,304
201292,365,000 - 92,365,000 3.77%2,067
Source: The Village of Glenview's Comprehensive Annual Financial Report.
(1) See the Schedule of Assessed Value and Actual Value of Taxable Property for property
value data.
(2) See the Schedule of Demographics and Economic Statistics.
200
Village of Glenview, Illinois
Direct and Overlapping Governmental Activities Debt
As of December 31, 2012
PercentageVillage of
Debt Applicable Glenview
Grossto the Village ofShare
Governmental unitDebtGlenview (1)of Debt
Direct bonded debt
Village of Glenview 89,415,000$ 100.00%89,415,000$
Overlapping bonded debt
Glenview Special Service Areas 417,996 100.00%417,996
Glenview Park District 14,135,000 84.90%12,000,615
Northbrook Park District 7,990,000 0.31%24,769
Cook County, including Forest Preserve
District 3,804,385,000 1.61%61,250,599
Metropolitan Water Reclamation District 2,177,297,899 1.64%35,707,686
School Districts
Elementary school districts
Avoca School District No. 37 2,031,277 8.31%168,799
East Maine School District No. 63 13,770,000 4.27%587,979
Glenview School District No. 34 16,430,000 89.22%14,658,846
Golf School District No. 67 12,615,470 9.68%1,221,177
Northbrook School District No. 30 901,316 34.08%307,168
West Northfield School District No. 31 1,645,000 43.14%709,653
Wilmette School District No. 39 14,900,000 5.07%755,430
High school districts
Maine Township District No. 207 11,000,000 1.03%113,300
New Trier Township District No. 203 16,111,456 2.46%396,342
Niles Township District No. 219 156,868,952 0.81%1,270,639
Northfield Township District No. 225 88,317,885 41.16%36,351,641
Community College District
Oakton Community College No. 535 25,540,000 10.51%2,684,254
Total overlapping bonded debt 6,364,357,251 168,626,893
Total direct and overlapping bonded debt6,453,772,251$ 258,041,893$
Source: Cook County Clerk as of 12/31/12
(1) Determined by the ratio of assessed valuation of property subject to taxation in the Village of
Glenview to the valuation of property subject to taxation in overlapping unit. Based on 2010
real property valuations.
201
Village of Glenview, Illinois
Legal Debt Margin Information
As of December 31, 2012
The Village of Glenview is a home rule municipality in the State of Illinois. Article VII, Section 6(k) of the
1970 Illinois Constitution governs computation of the legal debt margin and reads as follows:
“The General Assembly may limit by law the amount and require referendum approval of debt to
be incurred by home rule municipalities, payable from ad valorem property tax receipts, only in
excess of the following percentages of the assessed value of its taxable property….(2) if its
population is more than 25,000 and less than 50,000 an aggregate of one
percent;….Indebtedness which is outstanding on the effective date (July 1, 1971) of this
constitution or which is thereafter approved by referendum…shall not be included in the foregoing
percentage amount.”
To date, the Illinois General Assembly has not set limits for home rule municipalities.
202
Village of Glenview, Illinois
Per
PersonalCapita
FiscalIncomePersonalUnemployment
YearPopulation(in Thousands)IncomeRate
200341,847 1,815,490 $ 43,384$ 4.6%
200444,443 1,928,115 43,384 4.6%
200544,443 1,928,115 43,384 4.2%
200644,443 1,928,115 43,384 2.9%
200744,443 1,928,115 43,384 3.1%
200844,443 1,928,115 43,384 4.2%
200944,443 1,928,115 43,384 6.9%
201044,692 2,331,179 52,161 6.8%
201144,692 2,379,670 53,246 6.8%
201244,692 2,321,883 51,953 6.2%
Source:
Population information provided by the U.S. Census Burea.
Per capita information provided by the American Community Survey
Unemployment data provided by Illinois Department of Employment Security (IDES)
Demographic and Economic Statistics
Last Ten Fiscal Years
203
Village of Glenview, Illinois
% of% of
Number ofTotal VillageNumber ofTotal Village
EmployerRankEmployeesPopulationRankEmployeesPopulation
Kraft Foods1 1,440 3.22%
Astellas2 1,010 2.26%
Glenbrook Hospital3 1,000 2.24%4 600 1.62%
Abt Electronics4 919 2.06%1 2,100 5.66%
ITW/Signode5 725 1.62%2 1,200 3.24%
Anixter, Inc.6 680 1.52%
Aon7 650 1.45%
Glenview Community School District 348 646 1.45%6 400 1.08%
Glenbrook South High School9 500 1.12%8 330 0.89%
Glenview Terrace Nursing Home10 350 0.78%
Scott Foresman (Pearson)5 475 1.28%
Guarantee Trust Life Insurance9 310 0.84%
Zenith Electronics 3 900 2.43%
Avon Products 7 369 0.99%
Omni-Circuits, Inc.10 280 0.75%
17.72%18.78%
Source: Illinois Manufacturers Services Directory, Illinois Services Directory and Employer Contact
Principal Employers
Current Year and Nine Years Ago
20122003
204
Village of Glenview, Illinois
Full-Time Equivalent Employees
Last Ten Fiscal Years
Function/Program2003200420052006200720082009201020112012
General Government
Management services10 10 12 12 12 13 10 10 11 15
Finance14 14 15 16 16 - - - - -
Administrative services- - - - - 22 14 16 13 13
Planning and economic
development (1) (2)- - - - - 32 21 23 5 5
Planning 2 2 2 2 2 - - - - -
Code enforcement16 16 16 16 16 - - - - -
Community development13 13 14 14 14 - - - - -
Capital projects (2)- - - - - 17 13 11 25 25
Total general government55 55 59 60 60 84 58 60 54 58
Public safety
Police
Officers78 78 78 78 78 77 74 73 71 70
Civilians19 19 18 18 18 19 18 17 16 12
Fire
Firefighters and officers83 85 85 85 85 84 82 84 80 80
Civilians13 12 12 11 11 - - 2 2 2
Joint dispatch- - - - - 15 20 20 19 21
Total public safety193 194 193 192 192 195 194 196 188 185
Public works
Administration6 6 6 6 6 6 6 4 6 6
Engineering8 8 8 8 8 - - - -
Street maintenance44 44 45 45 45 22 21 21 20 21
Water maintenance20 21 21 21 21 29 28 29 21 18
Fleet maintenance- - - - - 6 6 5 3 4
Natural resources- - - - - 2 1 1 1 1
Total public works78 79 80 80 80 65 62 60 51 50
Total full-time equivalent
employees326 328 332 332 332 344 314 316 293 293
(1) Previously referred to as Development
(2) Inspectional Services Dvision previously included in Development is included in Capital Projects as of 2011.
Data source: Village Budget Office
205
Village of Glenview, Illinois
Operating Indicators
Last Ten Fiscal Years
Function/Program20032004200520062007
Public Safety
Police
Physical arrests848 910 1,063 976 1,003
Parking violations3,536 4,345 2,561 2,695 2,206
Traffic violations5,916 5,360 6,998 6,266 5,800
Fire
Emergency responses
Emergency medical4,007 4,035 4,297 4,487 4,707
Other responses2,733 2,626 2,872 2,734 3,148
Fires extinguished188 123 144 93 100
Fires extinguished (structures)- - - - -
Public works
Pothole repairs (hours)4,785 4,632 5,201 1,311 1,062
Water
Metered water customers15,478 15,478 15,853 15,247 15,663
Water main breaks148 101 210 99 130
Water purchases
(in ten-thousands of gallons)332,138 332,138 362,534 312,218 318,381
Average daily consumption217 205 223 192 196
Building
Permits issued2,991 3,100 3,282 2,759 2,739
Value of construction
(in thousands of dollars)206,573 $ 178,546 $ 168,418 $ 108,005 $ 108,455 $
Data Source
Various Village departments.
206
20082009201020112012
1,677 1,475 1,088 571 544
2,962 3,518 2,998 2,243 1,125
4,101 3,024 2,301 2,446 2,511
4,873 4,588 4,653 4,948 4,832
2,885 2,561 2,249 2,359 2,327
- - 52 28 63
39 11 21 26 27
2,425 5,910 4,444 3,453 4,267
15,754 15,769 15,781 15,786 15,894
93 96 134 114 171
306,164 301,349 292,882 285,877 306,706
186 183 141 133 138
2,837 2,376 2,535 2,552 2,952
106,000 $ 133,737 $ 110,191 $ 98,541 $ 39,693 $
207
Village of Glenview, Illinois
Capital Asset Statistics
Last Ten Fiscal Years
Function/Program20032004200520062007
Public Safety
Police
Police stations1 1 1 1 1
Marked patrol units17 17 18 18 18
Unmarked patrol units9 9 9 9 9
Motorcycles2 2 2 3 3
Civilian vehiclesN/AN/AN/AN/AN/A
Fire
Fire stations5 5 5 5 5
Ambulances3 3 3 3 4
Fire engines4 4 4 4 4
Aerial ladder truck1 1 1 1 1
Passenger vehiclesN/AN/AN/AN/AN/A
Public works
Streets and highways
Arterial street miles7 7 7 7 7
Residential street miles123 138 138 126 126
Streetlights465 1,300 1,700 1,800 1,800
Water
Water main miles255 261 - - -
Fire hydrants2,300 2,300 2,668 2,668 2,668
Storage capacity
(in millions of gallons)15,000 15,000 18,000 18,000 18,000
Wastewater
Sanitary sewer miles81 128 128 128 128
Storm sewer miles74 175 175 175 175
Parking facilities
Parking spaces1,168 1,168 1,450 1,450 1,450
Data Source:
Various Village departments, data varies due to improved GIS capabilities.
208
20082009201020112012
1 1 1 1 1
18 18 18 18 18
9 12 12 12 12
3 4 4 4 4
N/AN/AN/AN/A3
5 5 5 5 5
4 4 4 4 4
4 6 6 6 6
1 1 1 1 1
N/AN/AN/AN/A6
7 18 18 18 18
126 158 158 158 158
1,800 1,800 1,800 1,800 1,800
- - - - -
2,668 2,713 2,733 2,733 2,733
18,000 16,050 16,050 16,050 16,050
128 128 150 150 150
165 165 262 262 262
1,450 1,450 1,450 1,450 2,048