HomeMy Public PortalAboutFY 2015 Certified Comprehensive Annual Financial ReportVillage of Glenview,
Illinois
Comprehensive Annual Financial Report
For the Fiscal Year Ended December 31, 2015
Prepared by:
Admin istrative Services - Finance Division
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Village of Glenview, Illinois
Comprehensive Annual Financial Report
For the Year Ended December 31, 2015
Table of Contents
Page
Table of Contents i - v
INTRODUCTORY SECTION
Officers and Officials vi
Certificate of Achievement for Excellence in Financial Reporting vii
Organizational Chart viii
Letter of Transmittal ix - xiii
FINANCIAL SECTION
Independent Auditor’s Report 1 – 3
Management's Discussion and Analysis 4 - 21
Basic Financial Statements
Government-wide Financial Statements
Statement of Net Position 22 - 23
Statement of Activities 24 - 25
Fund Financial Statements
Balance Sheet – Governmental Funds 26
Reconciliation of the Governmental Funds Balance Sheet to the
Statement of Net Position 27
Statement of Revenues, Expenditures, and Changes in
Fund Balances – Governmental Funds 28
Reconciliation of the Governmental Funds Statement of Revenues,
Expenditures, and Changes in Fund Balances to the Statement of Activities 29
Statement of Net Position – Proprietary Funds 30 - 31
Statement of Revenues, Expenses, and Changes in Fund Net Position –
Proprietary Funds 32 - 33
Statement of Cash Flows – Proprietary Funds 34 - 37
Statement of Fiduciary Net Position – Fiduciary Funds 38
Statement of Changes in Plan Net Position – Pension Trust Funds 39
Notes to Financial Statements 40 - 100
Required Supplementary Information (Unaudited)
Schedule of Funding Progress
Other Postemployment Benefit Plan 101
Schedule of Changes in Net Pension Liability, Total Pension Liability and
Related Ratios and Investment Returns
Illinois Municipal Retirement Fund 102
Police Pension Plan 103
Firefighters’ Pension Plan 104
(Continued)
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Village of Glenview, Illinois
Comprehensive Annual Financial Report
For the Year Ended December 31, 2015
Table of Contents
Page
FINANCIAL SECTION (Continued)
Required Supplementary Information (Unaudited) (Continued)
Schedules of Contributions
Illinois Municipal Retirement Fund 105
Police Pension Plan, Firefighters’ Pension Plan 106 - 107
Schedule of Revenues, Expenditures, and Changes in Fund Balance –
Budget and Actual
General Fund 108
Special Tax Allocation Fund 109
Notes to Required Supplementary Information 110 - 111
Supplemental Information
Governmental Funds
Major Funds
Schedule of Detailed Revenues and Other Financing Sources - Budget and Actual
General Fund 112 - 115
Schedule of Detailed Expenditures and Other Financing Uses - Budget and Actual
General Fund 116 - 122
Schedules of Detailed Revenues, Expenditures, and Changes in Fund
Balance - Budget and Actual
Special Tax Allocation Fund 123
Village Permanent Fund 124
Capital Projects Fund 125
Nonmajor Governmental Funds
Combining Balance Sheet 126
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 127
Nonmajor Special Revenue Funds
Combining Balance Sheet 128
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 129
Schedules of Revenues, Expenditures, and Changes in Fund Balance –
Budget and Actual
Motor Fuel Tax Fund 130
Foreign Fire Insurance Fund 131
Police Department Special Account Fund 132
Waukegan Golf TIF Fund 133
Nonmajor Debt Service Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance -
Budget and Actual - Corporate Purpose Bonds Fund 134
(Continued)
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Village of Glenview, Illinois
Comprehensive Annual Financial Report
For the Year Ended December 31, 2015
Table of Contents
Page
FINANCIAL SECTION (Continued)
Supplemental Information (Continued)
Nonmajor Governmental Funds (Continued)
Nonmajor Capital Project Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance -
Budget and Actual – Glen Capital Projects Fund 135
Proprietary Funds
Major Enterprise Funds
Schedules of Revenues, Expenses, and Changes in Net Position –
Budget and Actual (Budgetary Basis)
Glenview Water Fund 136 - 137
North Maine Water and Sewer Fund 138 - 139
Glenview Sanitary Sewer Fund 140 - 141
Nonmajor Enterprise Funds
Combining Statement of Net Position 142
Combining Statement of Revenues, Expenses, and Changes in Net Position 143
Combining Statement of Cash Flows 144 - 145
Schedules of Revenues, Expenses, and Changes in Net Position –
Budget and Actual (Budgetary Basis)
Wholesale Water Fund 146
Commuter Parking Lot Fund 147
Internal Service Funds
Combining Statement of Net Position 148 - 149
Combining Statement of Revenues, Expenses, and Changes in Fund Net Position 150 - 151
Combining Statement of Cash Flows 152 - 153
Schedules of Revenues, Expenses, and Changes in Net Position –
Budget and Actual (Budgetary Basis)
Capital Equipment Replacement Fund (CERF) 154
Municipal Equipment Repair Fund (MERF) 155
Insurance and Risk Fund 156
Facilities Repair and Replacement Fund (FRRF) 157
(Continued)
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Village of Glenview, Illinois
Comprehensive Annual Financial Report
For the Year Ended December 31, 2015
Table of Contents
Page
FINANCIAL SECTION (Continued)
Supplemental Information (Continued)
Trust and Agency Funds
Pension Trust Funds
Combining Statement of Fiduciary Net Position 158
Combining Statement of Changes in Fiduciary Net Position 159
Schedule of Changes in Plan Net Position - Budget and Actual
Police Pension Fund 160
Firefighters' Pension Fund 161
Agency Funds
Statements of Changes in Assets and Liabilities 162 - 163
Glenview Library - Component Unit
Combining Balance Sheet and Statement of Net Position 164 - 167
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances
and Statement of Activities 168 - 169
Schedule of Revenues, Expenditures, and Changes in Fund Balance
Library General Fund 170 - 173
Library General Obligation Bond Series of 2009A 174
Library Nonmajor Funds
Combining Balance Sheet 175 - 176
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 177 - 178
Schedules of Revenues, Expenditures, and Changes in Fund
Balance (Deficit) - Budget and Actual
Library Special Reserve Fund 179
Other Supplemental Information
Long-Term Debt Requirements
General Obligation Bond Series 2007A 180
General Obligation Bond Series 2007B 181
General Obligation Bond Series 2009A 182
General Obligation Bond Series 2009D 183
Illinois Environment Protection Agency Loan 184
General Obligation Refunding Bond Series 2012A 185
General Obligation Refunding Bond Series 2012B 186
General Obligation Refunding Bond Series 2012C 187
General Obligation Bond Series 2013A 188
General Obligation Bond Series 2013B 189
5-Year Loan 190
Draw-down Loan 191
(Continued)
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Village of Glenview, Illinois
Comprehensive Annual Financial Report
For the Year Ended December 31, 2015
Table of Contents
Page
Other Supplemental Information (Continued)
Glenview Naval Air Station (GNAS) Redevelopment Area Funds
Combining Balance Sheet 192
Combining Schedule of Revenues, Expenditures, and Changes in
Fund Balances 193
STATISTICAL SECTION (UNAUDITED)
Index to Statistical Section 194
Financial Trends
Net Position, Last Ten Fiscal Years 195 - 196
Changes in Net Position, Last Ten Fiscal Years 197 - 200
Fund Balances of Governmental Funds, Last Ten Fiscal Years 201 - 202
Changes in Fund Balances of Governmental Funds, Last Ten Fiscal Years 203 - 204
Revenue Capacity
Property Tax Information
Assessed Value and Actual Value of Taxable Property, Last Ten Levy Years 205 - 206
Direct and Overlapping Property Tax Rates, Last Ten Levy Years 207 - 210
Principal Property Tax Payers, Current Year and Ten Years Ago 211
Property Tax Levies and Collections, Last Ten Tax Levy Years 212
Debt Capacity
Ratios of Outstanding Debt by Type, Last Ten Fiscal Years 213
Ratios of General Bonded Debt Outstanding, Last Ten Fiscal Years 214
Direct and Overlapping Governmental Activities Debt 215
Legal Debt Margin Information 216
Demographic and Economic Information
Demographic and Economic Statistics, Last Ten Fiscal Years 217
Principal Employers, Current Year and Ten Years Ago 218
Operating Information
Full-time Equivalent Employees by Function/Program, Last Ten Fiscal Years 219 - 220
Operating Indicators by Function/Program, Last Ten Fiscal Years 221 - 222
Capital Asset Statistics by Function/Program, Last Ten Fiscal Years 223 - 224
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Village of Glenview, Illinois
Officers and Officials
December 31, 2015
LEGISLATIVE
James R. Patterson, Jr.
Village President
Paul Detlefs, Trustee Michael Jenny, Trustee
Philip O’C. White, Trustee Deborah Karton, Trustee
John Hinkamp, Trustee Scott Britton,Trustee
Todd Hileman
Village Clerk/Treasurer
ADMINISTRATIVE
Todd Hileman, Village Manager
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Long-Term Financial Planning
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.
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 .
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 . Glenview is an outstanding place to live and work, with
an ideal mix of single family and multi-family residential housing, corporate headquarters and
commercial/industrial businesses, excellent schools and municipal services. Of the Village's 2014
assessed valuation, 74.6% was classified as residential, and 25.4% was commercial/industrial.
A number of revenue sources had been showing significant growth over the past several years, but in 2015
while still increasing, their growth has slowed down. For example, during 2015, the annual sales tax
revenue amount of $15,635,705 was 4.43% higher than the sales tax revenue received in 2014 while last
year the sales tax growth from 2013 to 2014 was 8.23%. Accordingly, the growth in home rule sales tax is
following the sales tax pattern as the 2015 revenue increased 4.73% from $7,468,617 in 2014 to $7,821,912
in 2015.
In conjunction to the retail sales continuing to increase, the Village is also 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 2015. Specifically, in 2001 , sales tax revenue related to the Illinois Department
of Revenue's automotive sales tax category (Automobile and Filling Stations) accounted for 45% of the
Village's total tax receipts. While this component is still very critical to the Village and generated $4 .6 million
or 29% of sales tax receipts in 2015, the Furniture and Electronics sales tax category, which in 2001
generated approximately 1 % of sales tax receipts , in 2015 generated $4.3 million, or 27% 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, which is still growing and has recently completed
an expansion of new warehouse/d istribution space to their facility.
Major Initiatives and Accomplishments
Village Board Goals and Initiatives -The Board of Trustees' 2015 strategic goals remained much the
same as they have over the last several years which continue to provide 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,
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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.
The Village Board, management and staff are pleased to report that a primary goal of maintaining service
levels while not increasing the burden to the taxpayers has been substantially achieved. However, there is
reason to be cautious about the economy and the impact it has on the Village's finances. The Village will
continue to monitor the political uncertainty regarding the financial position of the State of Illinois, which
continues to explore opportunities to both shift costs to local governments and reduce local governments'
share of tax revenues .
Within this context, the Village Board, management, and staff have engaged in regular re-evaluation of
every aspect of the Village's operations to identify opportunities for cost containment and new revenues.
Positive cost containment results have been due to the Village Board and managements' efforts to "right
size" the organization and develop a staffing model that is flexible and adaptable to changing workload
demands. The Municipal Partnering Initiative (MPI) that was established in 2010 has also presented
opportunities to collaborate and improve the Village's economies of scale when going to bid and to leverage
shared service opportunities.
The Village has also worked to contain costs of our workforce through managed competition of services,
implementing two-tier wage structures, and offering a Voluntary Separation Program in 2015. The
Voluntary Separation Program along with attrition and reorganization efforts resulted in the reduction of 7
full-time equivalent positions by the end of 2015.
Also in 2015, the Village sold North Maine Water Utility for $22M; a water system serving mostly
unincorporated areas outside of Glenview's incorporated boundaries . The Village Board directed $12M of
the sale proceeds to the Police and Fire Pension funds to help mitigate risk by contributing funds above the
annually actuarially calculated contributions and directed the remaining $1 OM of the sale proceeds to the
Permanent Fund to reimburse capital expenditures and allow for further financial flexibility.
During 2015, the Village continued to adhere to their General Fund Balance (Reserve) policy of maintaining
30%-40% of total expenditures by developing a planned use of $6,412,4 76 of the General Fund Balance.
Development Initiatives
In 2015, several significant redevelopment projects were approved or constructed, resulting in the one-time
revenues associated with building permit fees as well as long-term revenues provided via additional
property, sales, and utility tax base for the community. It is Village policy to match these one-time revenues
to one-time expenditures . The one-time expenditures have primarily been capital projects which include
neighborhood infrastructure improvements, localized stormwater detention projects, and major roadway
reconstructions .
• The Village of Glenview annexed approximately 21.0 acres in 2015 along Milwaukee Avenue adjacent
to the Grove. This area has since been approved for 48 high-end single-family cluster residences to be
constructed by David Weekley Homes of Texas. As part of the development process, the applicant has
agreed to donate an 8.0 acre buffer of natural area to the Park District for future preservation with The
Grove, a National Historic Landmark. Construction began in the summer of 2015.
• A new 4-story residential apartment building at 1160 Waukegan Road was approved and began
construction in 2014. The project will add 36 luxury apartments to Glenview's downtown and is expected
to finish construction in 2016.
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• The Glen Town Center Streetscape is being reconstructed with a more sustainable design. The revised
design includes zones for outdoor dining, pedestrian walkways, and a landscaped area separating the
pedestrians from the adjacent angled public parking spaces. Additionally, colored stamped concrete
will be added along the street edges, as well as the installation of new irrigation and electrical systems.
• Anthem Memory Care, a senior memory care facility, was approved at 1879 Chestnut Avenue to include
66 beds . The project is expected to finish construction in 2016.
• The Village granted approval for a number of new commercial projects and expansions of current uses
including:
o Development approvals for a new two tenant retail building on the last outlot in the Glen Pointe
development at Willow and Sanders Roads .
o Expansion of the Astellas parking lot next to the Glen Pointe development for additional
employee and visitor parking.
o Life Storage on Milwaukee Avenue received approval for additional free-standing storage units
east of the principal building.
o Approval of the Village's first brewery and tasting room, Ten Ninety Brewing Company opened
on Waukegan Road in the Downtown District. The owner moved their existing manufacturing
operation from Zion to Glenview and added the tasting room into a renovated building.
o Kraft Heinz went through a merger and remodeled some of the space in the existing research
and development building to include additional test kitchens.
• A number of previously approved projects were completed and occupied during 2015, including :
o The Glen Gate shopping center was completed in 2014 but fully occupied in 2015.
o Occupancy of several large apartment buildings including Midtown Square, The Reserve at
Glenview, and the Tapestry of Glenview adding almost 1,000 new residential units to the
Glenview housing stock.
o The consolidated Municipal Center at 2500 East Lake Avenue was occupied December 2015
to house Village Hall staff, Police and Dispatch Services under one roof.
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, 2014.
The Certificate of Achievement is a prestigious national award recognizing conformance with the highest
standards for preparation of state and local government financial reports.
In order to be awarded the Certificate of Achievement, the Village had to publish an easily readable and
efficiently organized CAFR that satisfied both generally accepted accounting principles and applicable legal
requirements.
A Certificate of Achievement is only valid for a period of one year. The Village of Glenview has received a
Certificate of Achievement for thirty-three consecutive years (fiscal years ended 1982 through 2014). 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.
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FINANCIAL SECTION
INDEPENDENT AUDITOR’S REPORT
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Citizens of Glenview
Independent Auditor’s Report
To 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 (the “Village”), as of and for the year ended December 31,
2015, 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.
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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, 2015, 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.
Emphasis of Matter
As discussed in Note 18 to the financial statements, during the year ended December 31, 2015, the
Village implemented the provisions of Governmental Accounting Standards Board (GASB) Statement No.
68, Accounting and Financial Reporting for Pension – An Amendment of GASB Statement No. 27 and
Statement No. 71, Pension Transition for Contributions Made Subsequent to the Measurement Date – An
Amendment of GASB Statement No 68. The implementation of GASB Statement No. 68 and No. 71
resulted in a restatement of opening January 1, 2015 net position. Our opinion is not modified with
respect to this matter.
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that management’s
discussion and analysis (pages 4–21), budgetary comparison information (pages 109–110), and pension
and OPEB information (pages 101–108), and the related note (pages 111 - 112) be presented to
supplement the basic financial statements. Such information, although not a part of the basic financial
statements, is required by the GASB 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 for the year ended December 31, 2015 was conducted for the purpose of forming opinions on
the financial statements that collectively comprise the Village’s basic financial statements. The
Supplemental Information consisting of combining and individual fund statements and schedules and debt
requirement schedules for the year ended December 31, 2015, 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 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.
The combining and individual fund statements and schedules and debt requirement schedules have been
subjected to the auditing procedures applied in the audit of the basic financial statements for the year
ended December 31, 2015 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 combining and individual fund statements and schedules and debt requirement schedules are fairly
stated, in all material respects, in relation to the basic financial statements as a whole for the year ended
December 31, 2015.
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We also previously audited, in accordance with auditing standards generally accepted in the United
States of America, the basic financial statements of the Village of Glenview, Illinois as of and for the year
ended December 31, 2014 (not presented herein), and have issued our report thereon dated June 12,
2015, which contained unmodified opinions on the respective financial statements of the governmental
activities, the business-type activities, the discretely presented component unit, each major fund, and the
aggregate remaining fund information. The combining and individual fund statements and schedules for
the year ended December 31, 2014 are presented for purposes of additional analysis and are not a
required part of the basic financial statements. Such information is the responsibility of management and
was derived from and relates directly to the underlying accounting and other records used to prepare the
2014 financial statements. The combining and individual fund statements and schedules have been
subjected to the auditing procedures applied in the audit of the 2014 basic financial statements and
certain additional procedures, including comparing and reconciling such information directly to the
underlying accounting and other records used to prepare those financial statements or to those financial
statements themselves, and other additional procedures in accordance with auditing standards generally
accepted in the United States of America. In our opinion, the combining and individual fund statements
and schedules are fairly stated in all material respects in relation to the basic financial statements as a
whole for the year ended December 31, 2014.
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 it.
Schaumburg, Illinois
June 14, 2016
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Village of Glenview, Illinois
Management’s Discussion and Analysis
December 31, 2015
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, 2015. Please read it in conjunction
with the transmittal letter, which begins on page ix and the Village’s basic financial statements, which
begin on page 22.
FINANCIAL HIGHLIGHTS
• The Village’s net position of governmental activities increased by $40,348,972, or 28.7% whereas
the net position of business-type activities decreased by $8,389,314, or 12.1%, resulting in total
ending net position for the year of $242,050,117. The net position increased primarily as a result
of the increase in capital assets including expansion of the Municipal Center and significant storm
water infrastructure improvements coupled with the effects of the implementation of GASB 68
which revised the reporting requirements for the Village’s pension liabilities.
• During the year, government-wide revenues before transfers for the governmental and business-
type activities totaled $154,520,749, while expenses totaled $122,561,091, resulting in the
increase in net position of $31,959,658.
• The Village’s net position totaled $242,050,117 on December 31, 2015, an increase of
$31,959,658 from the prior fiscal year.
• The ending fund balance for the General Fund equaled $26,238,872, a decrease of $4,457,990
due to a planned use of fund balance. There was an operating surplus of $5,701,719 before
other financing uses. The operating surplus is primarily the result of higher than anticipated
receipts in building permits and related fees, income, hotel and local use taxes as well as
unbudgeted revenue received from the Escrow and Capital Projects Funds.
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 22-25) 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 26. 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 22- 25 of this report.
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Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2015
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.
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Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2015
USING THIS ANNUAL REPORT – Continued
Governmental Funds - Continued
The Village maintains ten individual governmental funds. Information is presented separately in the
governmental funds balance sheet and in the governmental funds statement of revenues, expenditures,
and changes in fund balances for the General Fund, Special Tax Allocation Fund, Village Permanent
Fund, and Capital Projects 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 26-29 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 funds are 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 30-37 of this report.
7
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2015
USING THIS ANNUAL REPORT – Continued
Fiduciary Funds
Fiduciary funds are used to account for resources held for the benefit of parties outside the government.
Fiduciary funds are not reflected in the government-wide financial statements because the resources of
those funds are not available to support the Village’s own programs. The accounting use for fiduciary
funds is much like that used for proprietary funds. The basic fiduciary fund financial statements can be
found on pages 38-39 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 40-100 of this report.
Other Information
In addition to the basic financial statements and accompanying notes, this report also presents certain
required supplementary information concerning the Village’s Illinois Municipal Retirement Fund, police
and fire pension funds, and other post-employment benefit employee pension obligations. The required
supplementary information also contains budget to actual comparison schedules for the General Fund
and major special revenue funds. Required supplementary information can be found on pages 101-111 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
112-163 of this report. Additionally, the combining and individual fund statements for the component unit
can be found on pages 164-179.
GOVERNMENT-WIDE FINANCIAL ANALYSIS
Net position may serve over time as a useful indicator of a government’s financial position. The following
table shows that in the case of the Village of Glenview, total assets/deferred outflows exceeded
liabilities/deferred inflows by $242,050,117 at December 31, 2015, compared to $210,090,459 as restated
at December 31, 2014. In fiscal year 2015, the Village implemented the provisions of Governmental
Accounting Standards Board (GASB) Statement No. 68 and No. 71 related to the reporting of the
Village’s participation with the Illinois Municipal Retirement Fund (IMRF), Police Officers’ and Firefighters’
Pension Plans. The provisions of the statement require that the Village report on the face of the
Statement of Net Position the net pension liabilities related to the three pension plans in which the Village
participates. This implementation led to a restatement of opening net position, see note 18 in the notes to
the financial statements for more details on the restatement. The Village’s total net pension liability at
December 31, 2015 is $72,958,839 which includes is made up of $7,964,813, $23,562,070 and
$41,431,955, respectively. The provisions of the Statement also provide for the recording of items called
deferred outflows (future expenses) and deferred inflows (future revenues) related to the pension plans.
At December 31, 2015, the Village has offset the total net pension liabilities of $72,958,839 with deferred
outflows of $18,407,709 and deferred inflows of $3,462,274. The net result of the transactions for the
implementation of GASB Statement No. 68 Accounting and Financial Reporting for Pension – an
amendment of GASB Statement No. 27 is an overall net liability of $58,013,404 related to the Village’s
future pension obligations for their participation with the IMRF, the Police Officers’ and the Firefighters’
Pension Plans.
8
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2015
GOVERNMENT-WIDE FINANCIAL ANALYSIS – Continued
2015 2014 2015 2014 2015 2014
Current and other assets 105,892,341 $ 112,814,351 $ 9,890,814 $ 12,045,199 $ 115,783,155 $ 124,859,550 $
Capital assets 243,384,335 215,771,120 58,644,312 63,226,029 302,028,647 278,997,149
Total assets 349,276,676 328,585,471 68,535,126 75,271,228 417,811,802 403,856,699
Deferred Outflow of Resources 19,368,543 4,966,245 1,015,465 446,350 20,384,008 5,412,595
Total deferred outflows 19,368,543 4,966,245 1,015,465 446,350 20,384,008 5,412,595
Long-term liabilities 135,084,466 140,577,358 4,545,497 2,398,358 139,629,963 142,975,716
Other liabilities 38,120,514 41,706,369 3,778,277 3,713,033 41,898,791 45,419,402
Total liabilities 173,204,980 182,283,727 8,323,774 6,111,391 181,528,754 188,395,118
Deferred Inflows of Resources 14,606,995 10,783,717 9,944 - 14,616,939 10,783,717
Total deferred inflows 14,606,995 10,783,717 9,944 - 14,616,939 10,783,717
Net Position
Net investment in
capital assets 190,234,952 149,950,065 55,002,443 60,891,686 245,237,395 210,841,751
Restricted 2,194,487 2,407,413 - - 2,194,487 2,407,413
Unrestricted (11,596,195) (11,873,206) 6,214,430 8,714,501 (5,381,765) (3,158,705)
Total net position, as restated 180,833,244 $ 140,484,272 $ 61,216,873 $ 69,606,187 $ 242,050,117 $ 210,090,459 $
Activities Activities Government
Table 1
Statement of Net Position
As of December 31, 2015 and 2014
Governmental Business-Type Total Primary
A large portion of the Village’s net position, $245,237,395, 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, $2,194,487, 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 ($5,381,765), represents
unrestricted net position.
9
Village of Glenview, Illinois
Management’s Discussion and Analysis
December 31, 2015
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 investment 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.
10
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2015
Revenue 2015 2014 2015 2014 2015 2014
Program revenues
Charges for services 15,943,280 $ 16,643,432 $ 20,427,770 $ 24,270,983 $ 36,371,050 $ 40,914,415 $
Grants and contributions
Operating 1,740,265 2,079,987 - - 1,740,265 2,079,987
Capital 18,639,549 5,162,690 - - 18,639,549 5,162,690
General Revenue
Taxes
Property 41,564,097 40,785,102 - - 41,564,097 40,785,102
Home rule 7,821,912 7,468,617 - - 7,821,912 7,468,617
Telecommunication 2,271,699 2,175,833 - - 2,271,699 2,175,833
Utility 3,308,469 3,759,715 - - 3,308,469 3,759,715
Other 1,058,897 1,002,599 - - 1,058,897 1,002,599
Intergovernmental
Sales 15,635,705 14,972,367 - - 15,635,705 14,972,367
State income 4,832,506 4,232,425 - - 4,832,506 4,232,425
Local use 994,035 873,126 - - 994,035 873,126
Road and bridge 391,761 389,133 - - 391,761 389,133
Property replacement 211,495 247,806 - - 211,495 247,806
Other 1,352,890 1,329,174 - - 1,352,890 1,329,174
Investment income 667,765 1,407,626 15,093 (153,614) 682,858 1,254,012
Gain on legal settlement - - - - - -
Other general revenues 1,701,143 1,703,769 15,942,418 21,553 17,643,561 1,725,322
Total revenues 118,135,468 104,233,401 36,385,281 24,138,922 154,520,749 128,372,323
Expenses
General government 34,403,572 36,586,774 - - 34,403,572 36,586,774
Public works 26,550,936 22,535,067 - - 26,550,936 22,535,067
Public safety 20,638,161 23,105,414 - - 20,638,161 23,105,414
Development 5,107,156 11,829,052 - - 5,107,156 11,829,052
Interest on long-term debt 2,087,567 2,231,704 - - 2,087,567 2,231,704
Water services - - 15,164,208 10,634,065 15,164,208 10,634,065
North Maine water and
sewer - - 14,915,126 7,547,458 14,915,126 7,547,458
Sanitary sewerage - - 2,034,331 2,051,642 2,034,331 2,051,642
Wholesale water - - 1,172,689 1,064,737 1,172,689 1,064,737
Commuter parking - - 487,345 409,584 487,345 409,584
Total expenses 88,787,392 96,288,011 33,773,699 21,707,486 122,561,091 117,995,497
Change in net position
before transfers 29,348,076 7,945,390 2,611,582 2,431,436 31,959,658 10,376,826
Transfers 11,000,896 1,313,328 (11,000,896) (1,313,328) - -
Change in net position 40,348,972 9,258,718 (8,389,314) 1,118,108 31,959,658 10,376,826
Net position - beginning 210,837,871 201,579,153 70,084,841 68,966,733 280,922,712 270,545,886
Restatement of beginning of year net
position (70,353,599) - (478,654) - (70,832,253) -
Net position - beginning, as restated 140,484,272 201,579,153 69,606,187 68,966,733 210,090,459 270,545,886
Net position - ending, as restated 180,833,244 $ 210,837,871 $ 61,216,873 $ 70,084,841 $ 242,050,117 $ 280,922,712 $
Activities Activities Government
Table 2
Changes in Net Position
For the Fiscal Years Ended December 31, 2015 and 2014
Governmental Business-Type Total Primary
11
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2015
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 47.7% of the Village’s General Fund expenditures (including transfers) and
approximately 15.0% of enterprise operating costs at December 31, 2015.
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.
12
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2015
GOVERNMENT-WIDE FINANCIAL ANALYSIS – Continued
Net position of the Village’s governmental activities decreased by 14.2%, or $30,004,627 ($180,833,244
in 2015 compared to $210,837,871 in 2014). The implementation of GASB 68 resulted in a negative
$70,353,599 restatement of the governmental activities net position. Net position of business-type
activities decreased 12.7% or $8,867,968 ($61,216,873 in 2015 compared to $70,084,841 in 2014). The
implementation of GASB 68 resulted in negative $478,654 restatement of the business-type activities net
position.
Governmental Activities
Revenues:
Revenues for governmental activities totaled $118,135,468 at December 31, 2015 and $104,233,401 at
December 31, 2014, an increase of $13,902,067. Some key changes during the year for the
governmental activity revenues are described below:
• Grants and contribution revenues increased by $13,137,137 or 181.4% mainly due to grant
revenue received for the purchase of floodway homes for a total of $11,000,000 combined with
other stormwater grant revenue received during the year.
• Home rule sales tax increased from $7,468,617 at December 31, 2014 to $7,821,912 at
December 31, 2015, reflecting a 4.7% increase due to a general increase in retail sales and sales
generated by new retailers located in the Village.
• Intergovernmental revenues increased $1,374,361 or 6.2%, which included an increase in sales
tax of $663,338, an increase in income tax of $600,081 and increases in local use tax of
$120,909, road and bridge tax of $2,628 and other income of $23,716; coupled with a decrease in
personal property replacement taxes of $36,311. The increase in sales tax is also due to a
general increase in retail sales during the year.
13
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2015
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
13%
Operating
Grants/Contrib.
1%
Capital
Grants/Contrib.
16%
Property Taxes
35%
Sales Taxes
20%
Income Taxes
4%
Telecomm Taxes
2%
Utility Taxes
3%
Other General
Revenues
5%
Revenues by Source -Governmental Activities
December 31, 2015
14
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2015
GOVERNMENT-WIDE FINANCIAL ANALYSIS – Continued
Governmental Activities – Continued
For the year ended December 31, 2015, governmental activities expenses totaled $88,787,392, a
decrease of $7,500,619, or 7.8% from the 2014 expenses of $96,288,011. The implementation of GASB
68 resulted in a decrease of $8,637,392 in expenses. This decrease was offset by general increases in
operating expenses.
Business-Type activities
Business-Type activities posted total revenues of $36,385,281, while the cost of all business-type
activities totaled $33,773,699. This results in a surplus of $2,611,582 prior to net transfers out of
$11,000,896. In 2014, revenues of $24,138,922 exceeded expenses of $21,707,486, resulting in a
surplus of $2,431,436 prior to net transfers out of $1,313,328.
Revenues
For the fiscal year ended December 31, 2015, revenues for the business-type activities totaled
$36,385,281, an increase of $12,246,359, or 50.7%, due primarily to the sale of the North Maine Utility.
The net gain on this sale was $15,825,645. This increase was offset by decreases in water and sewer
charges in the North Maine Fund due to sale being finalized April 30, 2015.
Expenses
Expenses for the year ended December 31, 2015 totaled $33,773,699 an increase of $12,066,213, or
55.6% over the 2014 expenses of $21,707,486. Upon the sale of the North Maine Utility, the Village
utilized $12,000,000 of sale proceeds to help fund police and fire pension liabilities.
15
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2015
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 $51,047,822, which is
$860,930, or 1.7%, lower than last year’s total of $51,908,752. Of the $51,047,822 total, $14,166,801, or
approximately 28.3%, of the fund balance constitutes unassigned fund balance.
General Fund
The General Fund reported a decrease in fund balance for the year of $4,457,990 or 14.5%. Planned use
of fund balance in the amount of $6,412,476 was offset by transfers from the Escrow and Capital Projects
funds and higher than anticipated building permit and related fees and income, hotel and local use taxes.
The General Fund is the chief operating fund of the Village. At December 31, 2015, unassigned fund
balance in the General Fund was $25,739,072, 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 34.8% of total General Fund expenditures (including transfers).
Other Major Funds
The Special Tax Allocation Fund is used to account for the incremental property tax revenue that is
generated through the growth of the assessed valuation at The Glen (formally referred to as Glenview
Naval Air Station), and the ‘Make-Whole’ payments to core jurisdictions within the boundaries of the Tax
Increment Financing District. The core jurisdictions consist of: the Village of Glenview, School District 34,
School District 225, the Glenview Park District, and the Glenview Public Library, a discretely presented
component unit of the Village. This fund also accounts for the service and incentive fees within the Tax
Increment Financing District. At December 31, 2015, the Special Tax Allocation Fund reported revenues
in excess of expenditures by $1,587,830, due in large part to contractual expenditures coming in under
budget by $1,238,565.
The Capital Projects Fund is used to account for revenues and expenditures involved with improvements
throughout the Village which are not included in other capital projects funds. For the year ended
December 31, 2015, the Capital Projects Fund reported expenditures in excess of revenues by
$1,987,483, which was a planned use of fund balance.
16
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2015
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 Tax Increment Financing (TIF)
projects at The Glen. For the year ended December 31, 2015, the Village Permanent Fund reported
revenues in excess of expenditures by $4,556,333. During the year, a total of $10,000,000 was
transferred to the Permanent Fund from the North Maine Fund upon the sale of the North Maine Utility.
Transfers out to the Capital Projects Fund in the amount of $5,525,020 offset this revenue.
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. This utility was sold to Aqua Illinois on April 30, 2015. 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 deficit in the Glenview Water Fund during the current fiscal year was $2,140,188; the previous fiscal
year reported a surplus of $728,393. The deficit in this fund is largely the result of the Village
implementing an Automated Metering Program during the year; a total of $3,471,771 was expensed for
this project. This overage was offset by capital projects being under budget by $1,905,677 due to a
combination of project savings and delays. Additionally, charges for sales and services of $12,035,977
were $126,256 higher than budget. Unrestricted net position in the Glenview Water Fund totaled
$2,338,522 at December 31, 2015.
17
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2015
FINANCIAL ANALYSIS OF THE GOVERNMENT’S FUNDS – Continued
Proprietary Funds – Continued
The North Maine Water and Sewer Fund reported a deficit for the current year of $6,989,161; the
previous fiscal year reported a surplus of $326,125. The North Maine Utility was sold to Aqua Illinois on
April 30, 2015. During the year, a gain on the disposal of capital assets for $15,825,645 was recorded.
This gain was offset by a reduction in operating revenues compared to budget in the amount of
$6,263,595. Additionally, due to the sale of the North Maine Utility, operating expenses were under
budget by $7,004,696. Unrestricted net position at December 31, 2015 was $826,861.
The surplus in the current year in the Glenview Sanitary Sewer Fund was $577,233, resulting in ending
net position of $19,232,902. In the prior year the Glenview Sanitary Sewer Fund also reported a surplus
of $1,020,411. The current year surplus was due in large part to lower than anticipated capital expenses.
GENERAL FUND BUDGETARY HIGHLIGHTS
During 2015, the Village Board approved four budget amendments. The first amendment was to increase
contractual services for concrete flatwork repairs in the amount of $115,600 and was funded through
available fund balance. The second amendment was to increase professional services for inspectional
and code enforcement services in the combined amount of $146,925 and was offset by an increase in
permit fee revenues. The third amendment was to increase contractual services and equipment in the
combined amount of $323,636 and was funded through available fund balance. The fourth amendment
was to increase contractual services for scheduling and time and attendance software in the amount of
$136,224 and was funding through available fund balance.
General Fund actual revenues (including other financing sources) for the year totaled $70,363,673
compared to budgeted revenues of $65,043,493, an overage of $5,320,180. The excess of actual
revenues over budgeted revenues is due to an increase in several revenue sources as well as
unbudgeted revenue received during the year. The largest contributors to this overage were
miscellaneous revenue received from the Escrow Fund of $1,300,000 and a transfer in of $1,800,000
from the Capital Projects Fund for grant money received from Cook County. Additionally, building permit
and related annexation and engineering review fees were a combined $886,575 over budget. This is
due to a number of large developments beginning construction during the year. State revenues of
income tax and local use tax exceeded budget by $436,598 and $223,662, respectively. Also, hotel room
taxes were $154,049 over budget. These increases were offset by decreases in electric utility tax,
municipal use tax on gas and sales taxes for a combined total of $1,335,136.
18
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2015
FINANCIAL ANALYSIS OF THE GOVERNMENT’S FUNDS – Continued
GENERAL FUND BUDGETARY HIGHLIGHTS - Continued
The General Fund actual expenditures (including transfers) for the year of $74,821,663 were $2,417,109
higher than budgeted expenditures of $72,404,554. Personnel costs were higher than budget by
$465,507, or 1.4%. This is mainly due to expenses related to a Voluntary Separation Program offered
during the year. Contractual services were higher than budget by $697,108, or 5.7%. This is due to the
outsourcing of crossing guard services and Economic Development Agreements that were in place for an
entire year triggering higher than expected actuals for property, sales and utility tax sharing. Other
charges were over budget by $146,742 which included an adjustment to the accounts receivable
allowance for doubtful accounts and higher pension expenses due to an increased collection of property
taxes. Transfers out were over budget by $366,621 as budget amendments utilizing fund balance were
adopted during the year. Interfund charges were higher than budget by $23,119 as the Corporate Fund’s
share of risk management charges were increased due to the sale of the North Maine Utility. Additionally,
commodities and capital outlay were a combined $263,439 lower than budget due to expenses budgeted
but not incurred. For instance, savings totaling $134,997 were realized in calcium chloride, salt and
natural gas due to mild weather at the end of the year and a total of $55,633 in capital project savings
were realized when completing the Dispatch Center upgrades.
Original Final
Budget Budget Actual
Revenues
Taxes 25,747,059 $ 25,747,059 $ 25,545,158 $
Intergovernmental 26,046,196 26,046,196 25,793,250
Other 12,384,478 12,384,478 16,191,946
Total revenues 64,177,733 64,177,733 67,530,354
Expenditures (57,848,111) (58,796,696) (60,847,184)
Transfers in 865,760 865,760 2,833,319
Transfers out (13,595,382) (13,607,858) (13,974,479)
Total expenditures and
net transfers (70,577,733) (71,538,794) (71,988,344)
Net change in fund balance (6,400,000) $ (7,361,061) $ (4,457,990) $
Table 3
General Fund Budgetary Highlights
19
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2015
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, 2015 was $302,028,647 (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.
2015 2014 2015 2014 2015 2014
Construction in progress 80,256 $ 4,005,984 $ -$ 114,700 $ 80,256 $ 4,120,684 $
Land 21,076,696 8,779,220 567,851 805,851 21,644,547 9,585,071
Land right of way 55,281,951 55,244,762 - - 55,281,951 55,244,762
Buildings and improvements 72,496,858 61,001,489 1,826,443 1,721,933 74,323,301 62,723,422
Machinery, equipment and
vehicles 8,011,118 5,699,729 782,083 553,905 8,793,201 6,253,634
Infrastructure 86,437,456 81,039,936 - - 86,437,456 81,039,936
Water system - - 37,156,813 40,800,132 37,156,813 40,800,132
Sanitary sewer system - - 18,311,122 19,232,508 18,311,122 19,232,508
Total 243,384,335 $ 215,771,120 $ 58,644,312 $ 63,229,029 $ 302,028,647 $ 279,000,149 $
Activities Activities Government
Governmental
Table 4
Capital Assets at Year End
Net of Depreciation
Business-Type Total Primary
This year’s major additions included:
Additions
Construction in progress 7,786,572 $
Land 12,334,665
Building and improvements 13,732,834
Infrastructure, including roadways, etc.8,987,176
Machinery, equipment and vehicles 4,024,430
Sanitary sewer system 853,151
Water system 2,379,112
Total 50,097,940 $
Additional information on the Village’s capital assets can be found in Note 4 on pages 57-60 of this report.
20
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2015
CAPITAL ASSETS AND DEBT ADMINISTRATION - Continued
Debt Administration
At year-end, the Village had total outstanding debt of $67,415,088 as compared to $74,065,755 the
previous year, a decrease of $6,650,667, or 8.98% which included the issuance of a loan in the amount of
$3,003,592, coupled with principal retirements that reduced the outstanding liability on the bonds. The
following is a comparative statement of outstanding debt:
2015 2014 2015 2014 2015 2014
General obligation bonds 58,045,000 $ 64,690,000 $ 765,000 $ 1,510,000 $ 58,810,000 $ 66,200,000 $
Corporate purpose notes - - 3,003,592 933,950 3,003,592 933,950
Loans payable 5,601,496 6,931,805 - - 5,601,496 6,931,805
Total debt 63,646,496 $ 71,621,805 $ 3,768,592 $ 2,443,950 $ 67,415,088 $ 74,065,755 $
Governmental Business-Type Total Primary
Activities Activities Government
The Village maintains an Aaa rating from Moody’s for general obligation debt. This rating has not
changed in the past ten 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 6 on pages 63-70 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 2016
budget, tax rates, and fees that will be charged for its governmental and business-type activities. One of
those factors is the economy. The economic downturn beginning in 2008 brought significant declines in
many key revenues that had not surpassed 2008 levels until 2013. Recent trending has shown continued
improvement, with general and home rule sales tax showing steady growth over the last few years with
growth trend expected to continue from recent new commercial developments. There is reason to be
cautiously optimistic about the economy and the impact it has on the Village’s finances. Because of this,
the Village budgeted for no growth in various revenues. Additionally, for the first time in seven years, the
Village increased the tax levy by a total of $300,000, which was intended to partially offset increased
pension costs for Police and Fire. The goals remained to minimize the financial burden on Glenview
taxpayers, to continue identifying 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 the current level of resources. Plans for beyond 2016 are also
continually being analyzed through three to five year models to ensure the Village’s long term
sustainability.
21
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2015
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, 2500 East Lake Avenue, Glenview, Illinois 60026.
BASIC FINANCIAL STATEMENTS
22
Village of Glenview, Illinois
Statement of Net Position
December 31, 2015
Component
Primary Government Unit
Governmental Business-type Glenview
Activities Activities Total Library
Assets
Cash and cash equivalents 56,339,021 $ 6,471,075 $ 62,810,096 $ 4,761,749 $
Investments 21,408,760 - 21,408,760 246,800
Receivables, net of allowances
Taxes 19,685,281 - 19,685,281 7,741,916
Accounts 127,896 2,731,978 2,859,874 -
Other 3,669,891 - 3,669,891 115
Prepaid expenses 359,898 - 359,898 -
Inventory 572,562 687,761 1,260,323 -
Due from other governments 100,865 - 100,865 -
Land held for resale 287,500 - 287,500 -
Total current assets 102,551,674 9,890,814 112,442,488 12,750,580
Noncurrent assets
Notes receivable 2,118,667 - 2,118,667 -
Lease receivable 1,222,000 - 1,222,000 -
Capital assets
Not being depreciated 76,438,903 567,851 77,006,754 5,426,987
Net of accumulated
depreciation 166,945,432 58,076,461 225,021,893 25,699,819
Total noncurrent assets 246,725,002 58,644,312 305,369,314 31,126,806
Total assets 349,276,676 68,535,126 417,811,802 43,877,386
Deferred Outflows of Resources
Deferred loss on refunding 1,976,299 - 1,976,299 -
Deferred outflows due to pensions 17,392,244 1,015,465 18,407,709 1,381,433
Total deferred outflows of
resources 19,368,543 1,015,465 20,384,008 1,381,433
(Continued)
See Notes to Financial Statements.
23
Village of Glenview, Illinois
Statement of Net Position (Continued)
December 31, 2015
Component
Primary Government Unit
Governmental Business-type Glenview
Activities Activities Total Library
Liabilities
Accounts payable 24,457,675 $ 2,833,845 $ 27,291,520 $ 475,175 $
Accrued payroll 1,132,541 97,370 1,229,911 150,977
Accrued interest payable 155,656 6,546 162,202 65,011
Other payables 2,431,037 1,500 2,432,537 -
Refundable deposits - 11,230 11,230 -
Unearned revenues 510,466 - 510,466 -
Due to pension trusts 22,117 - 22,117 -
Current portion of long-term
liabilities 9,411,022 827,786 10,238,808 1,208,839
Total current liabilities 38,120,514 3,778,277 41,898,791 1,900,002
Noncurrent liabilities
Long-term liabilities -
due in more than one year 135,084,466 4,545,497 139,629,963 21,639,830
Total liabilities 173,204,980 8,323,774 181,528,754 23,539,832
Deferred Inflows of Resources
Deferred property taxes 11,010,235 - 11,010,235 7,778,561
Deferred interest revenue 144,430 - 144,430 -
Deferred inflows due to pensions 3,452,330 9,944 3,462,274 35,431
Total deferred inflows
of resources 14,606,995 9,944 14,616,939 7,813,992
Net Position
Net investment in capital assets 190,234,952 55,002,443 245,237,395 10,641,806
Restricted
Street improvements 1,193,343 - 1,193,343 -
Public safety 264,020 - 264,020 -
Economic development 737,124 - 737,124 -
Capital projects - - - -
Culture and recreation - - - 1,116,025
Unrestricted (11,596,195) 6,214,430 (5,381,765) 2,147,164
Total net position 180,833,244 $ 61,216,873 $ 242,050,117 $ 13,904,995 $
See Notes to Financial Statements.
24
Village of Glenview, Illinois
Statement of Activities
For the Year Ended December 31, 2015
Program Revenues
Operating Capital
Charges for Grants and Grants and
Expenses Services Contributions Contributions
Functions/Program
Primary government
Governmental activities
General government 34,403,572 $ 6,776,652 $ 24,432 $ -$
Public works 26,550,936 1,011,433 1,557,902 -
Public safety 20,638,161 8,017,412 116,575 -
Development 5,107,156 137,783 41,356 18,639,549
Interest 2,087,567 - - -
Total governmental activities 88,787,392 15,943,280 1,740,265 18,639,549
Business-type activities
Water services 15,164,208 12,738,153 - -
North Maine water and sewer 14,915,126 2,549,981 - -
Sanitary sewerage 2,034,331 2,523,041 - -
Wholesale water 1,172,689 1,996,831 - -
Commuter parking 487,345 619,764 - -
Total business-type activities 33,773,699 20,427,770 - -
Total primary government 122,561,091 $ 36,371,050 $ 1,740,265 $ 18,639,549 $
Component Unit
Public library 8,337,588 $ 250,382 $ 1,167,510 $ -$
General revenues and transfers
General revenues
Taxes
Property
Home rule sales
Telecommunication
Utility
Other
Intergovernmental revenues - unrestricted
Taxes
Sales
Income
Local use
Other taxes
Investment income
Miscellaneous
Transfers
Total general revenues and transfers
Change in net position
Net position – beginning of year, as restated
Net position – end of year
See Notes to Financial Statements.
25
Net (Expense) Revenue and Changes in Net Position
Primary Government Component Unit
Governmental Business-type Glenview
Activities Activities Total Library
(27,602,488) $ -$ (27,602,488) $ -$
(23,981,601) - (23,981,601) -
(12,504,174) - (12,504,174) -
13,711,532 - 13,711,532 -
(2,087,567) - (2,087,567) -
(52,464,298) - (52,464,298) -
- (2,426,055) (2,426,055) -
- (12,365,145) (12,365,145) -
- 488,710 488,710 -
- 824,142 824,142 -
- 132,419 132,419 -
- (13,345,929) (13,345,929) -
(52,464,298) (13,345,929) (65,810,227)
(6,919,696) $
41,564,097 - 41,564,097 7,898,664
7,821,912 - 7,821,912 -
2,271,699 - 2,271,699 -
3,308,469 - 3,308,469 -
1,058,897 - 1,058,897 -
15,635,705 - 15,635,705 -
4,832,506 - 4,832,506 -
994,035 - 994,035 -
1,956,146 - 1,956,146 -
667,765 15,093 682,858 21,673
1,701,143 15,942,418 17,643,561 -
11,000,896 (11,000,896) - -
92,813,270 4,956,615 97,769,885 7,920,337
40,348,972 (8,389,314) 31,959,658 1,000,641
140,484,272 69,606,187 210,090,459 12,904,354
180,833,244 $ 61,216,873 $ 242,050,117 $ 13,904,995 $
26
Village of Glenview, Illinois
Governmental Funds
Balance Sheet
December 31, 2015
Special Tax Village Capital Nonmajor Total
General Allocation Permanent Projects Governmental Governmental
Fund Fund Fund Fund Funds Funds
Cash and cash equivalents 19,340,380 $ 18,837,769 $ 5,498,904 $ 2,073,918 $ 3,636,270 $ 49,387,241 $
Investments 1,977,698 - 7,928,221 - 4,728,979 14,634,898
Receivables, net of allowances
Taxes 19,685,281 - - - - 19,685,281
Accounts 5,100 - 46,472 560 - 52,132
Other 361,570 464,294 17,588 2,741,982 14 3,585,448
Prepaid items - 30,851 - - - 30,851
Inventory 212,300 - - - - 212,300
Due from other funds 639,809 - 1,500,000 3,426,890 - 5,566,699
Due from other governments - - - - 100,865 100,865
Land held for resale 287,500 - - - - 287,500
Notes receivable 35,000 2,083,667 - - - 2,118,667
Lease receivable - - 1,222,000 - - 1,222,000
Advance to other funds - - 15,227,345 - - 15,227,345
Total assets 42,544,638 $ 21,416,581 $ 31,440,530 $ 8,243,350 $ 8,466,128 $ 112,111,227 $
Liabilities
Liabilities
Accounts payable 2,319,810 $ 17,168,505 $ -$ 4,370,626 $ 194,372 $ 24,053,313 $
Accrued payroll 1,103,290 9,951 - - - 1,113,241
Other payables 1,487,147 552,200 - 269,771 82,184 2,391,302
Due to other funds - - 3,426,890 2,124,757 377 5,552,024
Due to pension trusts 22,117 - - - - 22,117
Unearned revenue 363,167 - - 127,657 - 490,824
Advances from other funds - 15,227,345 - - - 15,227,345
Total liabilities 5,295,531 32,958,001 3,426,890 6,892,811 276,933 48,850,166
Deferred Inflows of Resources
Deferred property taxes 11,010,235 - - - - 11,010,235
Deferred interest revenue - - 144,430 - - 144,430
Unavailable grant revenue - - - 1,058,574 - 1,058,574
Total deferred inflows of resources 11,010,235 - 144,430 1,058,574 - 12,213,239
Fund balances
Fund balances
Nonspendable 499,800 30,851 - - - 530,651
Restricted - - - - 2,194,487 2,194,487
Assigned - - 27,869,210 291,965 5,994,708 34,155,883
Unassigned 25,739,072 (11,572,271) - - - 14,166,801
Total fund balances 26,238,872 (11,541,420) 27,869,210 291,965 8,189,195 51,047,822
Total liabilities, deferred
inflows of resources
and fund balances 42,544,638 $ 21,416,581 $ 31,440,530 $ 8,243,350 $ 8,466,128 $ 112,111,227 $
See Notes to Financial Statements.
Deferred Inflows of Resources
Assets
27
Village of Glenview, Illinois
Reconciliation of the Governmental Funds Balance Sheet
to the Statement of Net Position
December 31, 2015
Total fund balances – governmental funds 51,047,822 $
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. 243,384,335
Deferred loss on refunding of debt is not considered to represent a financial
resource and, therefore, are not reported in the funds.1,976,299
Deferred outflows and deferred inflows of resources related to pensions,
which will be recognized as an increase or reduction to pension
expense in future reporting periods.
Deferred outflows for contributions subsequent to measurement date 1,385,931 $
Deferred outflows due to pensions 16,006,313
Total deferred outflows due to pensions 17,392,244
Deferred inflows due to pensions (3,452,330)
Revenues in the Statement of Activities that do not provide current financial
resources are deferred inflows of resources in the funds.1,058,574
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:12,496,344
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 (1,541,159)
Net other postemployment benefit obligation payable (2,635,519)
Net pension liability (71,421,036)
Capital lease (730,833)
General obligation bond payable, net of unamortized items (60,984,345)
Loan payable (5,601,496)
Accrued interest payable (155,656)
Total long-term liabilities not reported in governmental funds (143,070,044)
Net position of governmental activities 180,833,244 $
See Notes to Financial Statements.
28
Village of Glenview, Illinois
Governmental Funds
Statement of Revenues, Expenditures, and Changes in Fund Balances
For the Year Ended December 31, 2015
Special Tax Village Capital Nonmajor Total
General Allocation Permanent Projects Governmental Governmental
Fund Fund Fund Fund Funds Funds
Taxes
Property 11,084,181 $ 30,479,916 $ -$ -$ -$ 41,564,097 $
Other 14,460,977 - - - - 14,460,977
Licenses and permits 3,208,298 - - - - 3,208,298
Charges for services 11,759,058 24,945 - - - 11,784,003
Fines and forfeitures 164,673 - - - - 164,673
Intergovernmental 25,793,250 41,356 - 20,364,975 1,674,477 47,874,058
Investment income 71,411 130,933 81,353 5,617 17,047 306,361
Other revenues 7,055 - - 109,689 3,859 120,603
Total revenues 66,548,903 30,677,150 81,353 20,480,281 1,695,383 119,483,070
Current
General government 17,294,427 20,874,482 - - - 38,168,909
Public works 9,260,772 - - - - 9,260,772
Public safety 28,324,828 - - - 96,522 28,421,350
Development 3,900,326 - - 33,681 13,125 3,947,132
Capital outlay 2,066,831 - - 38,961,818 2,101,478 43,130,127
Debt service
Bond issuance costs - 20,250 - - - 20,250
Principal - 16,510,938 - 24,371 1,440,000 17,975,309
Interest and fiscal charges - 1,389,472 - - 873,714 2,263,186
Total expenditures 60,847,184 38,795,142 - 39,019,870 4,524,839 143,187,035
Excess (deficiency) of revenues
over (under) expenditures 5,701,719 (8,117,992) 81,353 (18,539,589) (2,829,456) (23,703,965)
Other financing sources (uses)
Proceeds from capital lease 981,451 - - - - 981,451
Issuance of debt - 10,000,000 - - - 10,000,000
Transfers in 2,833,319 - 10,000,000 18,352,106 2,269,836 33,455,261
Transfers (out)(13,974,479) (294,178) (5,525,020) (1,800,000) - (21,593,677)
Total other financing sources
(uses)(10,159,709) 9,705,822 4,474,980 16,552,106 2,269,836 22,843,035
Net change in fund balances (4,457,990) 1,587,830 4,556,333 (1,987,483) (559,620) (860,930)
Fund balances – beginning of year 30,696,862 (13,129,250) 23,312,877 2,279,448 8,748,815 51,908,752
Fund balances – end of year 26,238,872 $ (11,541,420) $ 27,869,210 $ 291,965 $ 8,189,195 $ 51,047,822 $
See Notes to Financial Statements.
Revenues
Expenditures
29
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, 2015
Net changes in fund balances—total governmental funds (860,930) $
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 outlays 34,643,130 $
Depreciation expense (7,010,806)
Loss on disposal of capital assets (56,298)
Depreciation and loss expense over capital outlays 27,576,026
Contributions of capital assets are not reported in governmental funds. However in
the statement of activities, contributions of capital assets are recognized as revenue.
Contributions from external parties 37,189
Capital lease proceeds are reported as financing sources in governmental funds
and thus contribute to the change in fund balance. In the Statement of Net Position
entering a capital lease increases long-term liabilities and does not impact the
State of Activities. Similarly, principal payments are an expenditure in governmental
funds but reduce the liability in the Statement of Net Position.
Capital lease proceeds (981,451)
Payment of principal on lease 250,618
Revenue in the Statement of Activities that do not provide current financial
resources are not reported as revenues in the funds.(1,725,426)
Some expenses reported in the Statement of Activities do not
require the use of current financial resources and, therefore, are not
reported as expenditures in governmental fund. These activities consist of:
Change in net pension liability and related pension amounts 8,637,392
Change in net other postemployement benefit obligation (341,878)
Change in compensated absenses 50,652
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.
Retirement of debt 17,975,309
Issuance of bonds (10,000,000)
Amortization of premium/discount 464,256
Amortization of deferred loss on refunding (296,247)
Net affect of long-term debt 8,143,318
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.28,099
Internal service funds are used by the Village to charge the cost of
vehicle and equipment management and insurance to individual
funds. Net revenue of the internal service fund is reported with
governmental activities.(464,637)
Change in net position of governmental activities – statement of activities 40,348,972 $
See Notes to Financial Statements.
30
Village of Glenview, Illinois
Proprietary Funds
Statement of Net Position
December 31, 2015 Business-type Activities -
Glenview North Maine Glenview
Water Water and Sanitary
Fund Sewer Fund Sewer Fund
Current assets
Cash and cash equivalents 2,670,189 $ 956,694 $ 1,035,253 $
Investments - - -
Receivables
Accounts, net 1,937,368 2,369 632,635
Interest - - -
Other - - -
Prepaid items - - -
Inventory 687,761 - -
Total current assets 5,295,318 959,063 1,667,888
Noncurrent assets
Capital assets, not being depreciated 67,851 - -
Capital assets being depreciated - net 36,929,028 - 18,311,122
Total noncurrent assets 36,996,879 - 18,311,122
Total assets 42,292,197 959,063 19,979,010
Deferred Outflows of Resources
Deferred outflows due to pensions 831,649 - 183,816
Liabilities
Current liabilities
Accounts payable 2,359,634 1,980 355,087
Accrued payroll 76,929 - 17,337
Accrued interest payable 5,864 542 140
Accrued expenses - - -
Refundable deposits 11,230 - -
Due to other funds - - -
Claims payable - - -
Unearned revenues - - -
Current portion of long-term liabilities 418,386 130,000 279,400
Total current liabilities 2,872,043 132,522 651,964
Noncurrent liabilities
Claims payable - - -
Long-term liabilities due in more than
one year 4,267,857 (320) 277,960
Total noncurrent liabilities 4,267,857 (320) 277,960
Total liabilities 7,139,900 132,202 929,924
Deferred Inflows of Resources
Deferred inflows due to pensions 9,944 - -
Net Position
Net investment in capital assets 33,635,480 - 18,030,652
Unrestricted 2,338,522 826,861 1,202,250
Total net position 35,974,002 $ 826,861 $ 19,232,902 $
See Notes to Financial Statements.
Assets
31
Enterprise Funds
Governmental
Nonmajor Total Activities
Enterprise Enterprise Internal Service
Funds Funds Funds
1,808,939 $ 6,471,075 $ 6,951,780 $
- - 6,773,862
159,606 2,731,978 75,764
- - 24,443
- - 60,000
- - 329,047
- 687,761 360,262
1,968,545 9,890,814 14,575,158
500,000 567,851 -
2,836,311 58,076,461 -
3,336,311 58,644,312 -
5,304,856 68,535,126 14,575,158
- 1,015,465 -
117,144 2,833,845 404,362
3,104 97,370 19,300
- 6,546 -
1,500 1,500 39,735
- 11,230 -
- - 14,675
- - 632,440
- - 19,642
- 827,786 -
121,748 3,778,277 1,130,154
- - 948,660
- 4,545,497 -
- 4,545,497 948,660
121,748 8,323,774 2,078,814
- 9,944 -
3,336,311 55,002,443 -
1,846,797 6,214,430 12,496,344
5,183,108 $ 61,216,873 $ 12,496,344 $
32
Village of Glenview, Illinois
Proprietary Funds
Statement of Revenues, Expenses, and Changes in Fund Net Position
For the Year Ended December 31, 2015
Business-type Activities -
Glenview North Maine Glenview
Water Water and Sanitary
Fund Sewer Fund Sewer Fund
Operating revenues
Charges for sales and services 12,035,977 $ 2,518,296 $ 2,286,741 $
Miscellaneous 702,176 31,685 236,300
Total operating revenues 12,738,153 2,549,981 2,523,041
Operating expenses
Operations and maintenance
Insurance services - - -
Parking services - - -
Water services 13,859,081 - -
Sewerage services - - 1,546,429
North Maine water and sewer distribution - 14,449,301 -
Capital asset repair and replacement - - -
Depreciation and amortization 1,275,710 184,462 469,256
Total operating expenses 15,134,791 14,633,763 2,015,685
Operating income (loss)(2,396,638) (12,083,782) 507,356
Nonoperating revenues (expenses)
Other income - 113,267 9,719
Investment income (loss)4,601 9,249 707
Gain (loss) on sale of assets (4,336) 15,825,645 (1,877)
Reassignment of capital assets - - -
Interest and fiscal charges (29,417) (281,363) (18,646)
Total nonoperating revenues
(expenses)(29,152) 15,666,798 (10,097)
Income (loss) before transfers (2,425,790) 3,583,016 497,259
Transfers in 285,602 - 79,974
Transfers out - (10,572,177) -
Change in net position (2,140,188) (6,989,161) 577,233
Net position – beginning of year, as restated 38,114,190 7,816,022 18,655,669
Net position – end of year 35,974,002 $ 826,861 $ 19,232,902 $
See Notes to Financial Statements.
33
Enterprise Funds Governmental
Nonmajor Total Activities
Enterprise Enterprise Internal Service
Funds Funds Funds
2,607,145 $ 19,448,159 $ 10,309,111 $
9,450 979,611 210,091
2,616,595 20,427,770 10,519,202
- - 6,614,829
349,629 349,629 -
1,172,689 15,031,770 -
- 1,546,429 -
- 14,449,301 -
- - 2,277,411
137,716 2,067,144 -
1,660,034 33,444,273 8,892,240
956,561 (13,016,503) 1,626,962
- 122,986 -
536 15,093 361,404
- 15,819,432 35,529
- - (1,627,844)
- (329,426) -
536 15,628,085 (1,230,911)
957,097 2,611,582 396,051
- 365,576 9,425
(794,295) (11,366,472) (870,113)
162,802 (8,389,314) (464,637)
5,020,306 69,606,187 12,960,981
5,183,108 $ 61,216,873 $ 12,496,344 $
34
Village of Glenview, Illinois
Proprietary Funds
Statement of Cash Flows
For the Year Ended December 31, 2015
Business-type Activities –
Glenview North Maine Glenview
Water Water and Sanitary
Fund Sewer Fund Sewer Fund
Cash flows from operating activities
Cash received from customers and users 12,506,592 $ 2,783,251 $ 2,427,436 $
Cash received from other sources 29,127 - 80,019
Cash payments for goods and services (10,894,544) (2,709,764) (1,268,005)
Cash payments to employees (2,280,201) (12,326,035) (505,293)
Net cash provided by (used in) operating activities (639,026) (12,252,548) 734,157
Cash flows from noncapital financing activities
Transfers in 285,602 - 79,974
Transfers out - (11,181,359) -
Net cash provided by (used in) noncapital
financing activities 285,602 (11,181,359) 79,974
Cash flows from capital and related financing activities
Purchases of capital assets (2,632,110) - (853,201)
Proceeds from sales of assets - 22,816,393 -
Principal payments (344,400) (1,063,950) (270,600)
Interest payments (25,669) (297,285) (20,168)
Proceeds from sale of notes 3,003,592 - -
Net cash provided by (used in) capital and related
financing activities 1,413 21,455,158 (1,143,969)
Cash flows from investing activities
Sale of investments 248,700 - -
Loss on investments - - -
Interest received 4,642 9,247 707
Net cash provided by investing activities 253,342 9,247 707
Net increase (decrease) in cash and cash equivalents (98,669) (1,969,502) (329,131)
Cash and cash equivalents – beginning of year 2,768,858 2,926,196 1,364,384
Cash and cash equivalents – end of year 2,670,189 $ 956,694 $ 1,035,253 $
See Notes to Financial Statements
35
Enterprise Funds Governmental
Nonmajor Total Activities
Enterprise Enterprise Internal Service
Funds Funds Funds
2,616,495 $ 20,333,774 $ 10,529,276 $
- 109,146 -
(1,445,249) (16,317,562) (8,449,963)
(88,413) (15,199,942) (1,059,162)
1,082,833 (11,074,584) 1,020,151
- 365,576 9,425
(794,295) (11,975,654) (870,113)
(794,295) (11,610,078) (860,688)
(68,169) (3,553,480) (1,627,844)
- 22,816,393 35,529
- (1,678,950) -
- (343,122) -
- 3,003,592 -
(68,169) 20,244,433 (1,592,315)
- 248,700 931,832
- - -
1,203 15,799 374,840
1,203 264,499 1,306,672
221,572 (2,175,730) (126,180)
1,587,367 8,646,805 7,077,960
1,808,939 $ 6,471,075 $ 6,951,780 $
(Continued)
36
Village of Glenview, Illinois
Proprietary Funds
Statement of Cash Flows (Continued)
For the Year Ended December 31, 2015
Business-type Activities –
Glenview North Maine Glenview
Water Water and Sanitary
Fund Sewer Fund Sewer Fund
Reconciliation of operating income to net cash
provided by (used in) operating activities:
Operating income (2,396,638) $ (12,083,782) $ 507,356 $
Adjustments to reconcile operating income to
net cash provided by (used in) operating activities
Depreciation and amortization 1,275,710 184,462 469,256
Other income - - 9,719
Changes in assets, liabilities, deferred inflows
of resources, deferred outflows of resources
Accounts receivable (206,685) 229,867 (29,401)
Other receivable 4,251 3,403 4,096
Prepaid expense - - -
Inventory (590,079) - -
Accounts payable 1,215,530 (564,177) (242,843)
Accrued payroll 20,126 (22,321) 5,454
Refundable deposits (1,743) - -
Due to other funds - - -
Compensated absences (2,607) - -
Claims payable - - -
Unearned revenue - - -
Deferred outflows pension contributions 43,109 - 10,520
Total adjustments 1,757,612 (168,766) 226,801
Net cash provided by (used in)
operating activities (639,026) $ (12,252,548) $ 734,157 $
See Notes to Financial Statements.
37
Enterprise Funds Governmental
Nonmajor Total Activities
Enterprise Enterprise Internal Service
Funds Funds Funds
956,561 $ (13,016,503) $ 1,626,962 $
137,716 2,067,144 -
- 9,719 -
(100) (6,319) 10,234
- 11,750 -
- - (229,605)
- (590,079) 25,954
(12,191) 396,319 (184,497)
847 4,106 4,754
- (1,743) 8,998
- - 14,675
- (2,607) -
- - (257,164)
- - (160)
- 53,629 -
126,272 1,941,919 (606,811)
1,082,833 $ (11,074,584) $ 1,020,151 $
38
Village of Glenview, Illinois
Pension
Trust Agency
Funds Funds
Cash and cash equivalents 2,652,305 $ 336,508 $
Investments
U.S. government and agency obligations 43,000,576 -
Municipal obligations 5,238,309 -
Corporate obligations 10,724,801 -
Equity mutual funds 78,613,910 -
Certificates of deposit - 1,031,575
Receivables
Property taxes - 235,855
Other -
Accrued interest receivable 338,436 11,177
Due from other funds 22,117 -
Prepaid expenses 10,575 -
Total assets 140,601,029 1,615,115
Accounts payable - 6,300
Refundable deposits - 1,201,685
Accrued expenses 51,941 -
Due to bond holders - 407,130
Total liabilities 51,941 1,615,115
Restricted for pensions 140,549,088 $ -$
See Notes to Financial Statements.
Net Position
Statement of Fiduciary Net Position
Fiduciary Funds
December 31, 2015
Assets
Liabilities
39
Village of Glenview, Illinois
Additions
Contributions
Employer 17,803,893 $
Participant 1,527,900
Total contributions 19,331,793
Investment income
Net depreciation in fair value of investments (4,365,928)
Interest income 5,375,036
Less investment expenses (194,338)
Net investment income 814,770
Total additions 20,146,563
Deductions
Administration 133,927
Retirement pension 7,729,711
Widow pensions 629,718
Disability pensions 632,406
Contribution refunds 1,343
Total deductions 9,127,105
Change in net position 11,019,458
Net position restricted for pensions
Beginning 129,529,630
Ending 140,549,088 $
See Notes to Financial Statements.
Statement of Changes in Plan Net Position
Pension Trust Funds
For the Year Ended December 31, 2015
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
40
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 organization’s board, and either (1) the ability to impose
will by the primary government, or (2) the possibility that the organization will provide a financial
benefit to or impose a financial burden on the primary government; or
(b) Fiscal dependency on the primary government and there is a potential for the organization to
provide a financial benefit to or impose a financial burden 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, 2015
41
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:
Net investment in capital assets consists of capital assets, net of accumulated depreciation and
reduced by outstanding balances for bonds and other debt (and deferred outflows of resources) 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 44.
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, 2015
42
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 that are
restricted, committed, or assigned to expenditures for specified purposes other than debt service or
capital projects. 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
Waukegan Golf TIF Fund
Debt Service Funds are used for the servicing of general long-term debt. The Village has the following
debt service fund:
Corporate Purpose Bonds 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 – a major 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, 2015
43
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 Repair and Replacement Fund
Fiduciary Funds
Fiduciary funds are used to account for assets held on behalf of outside parties, including other
governments. W hen 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, 2015
44
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 nor 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, and 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 13 for additional detail on the components of the General Fund’s fund balance at December 31,
2015.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
45
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 2015 to finance the Village's 2016 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
assigned for capital and economic development 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.
The Capital Project Fund, a capital projects fund used to account for revenue and expenditures
involved with improvements throughout the Village which are not included in other capital project
funds.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
46
Note 1. Summary of Significant Accounting Policies (Continued)
Measurement Focus, Basis of Accounting, and Financial Statement Presentation (Continued)
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 Governmental Accounting Standards Board (GASB) has issued Statement No. 65, Items previously
Recorded as Assets and Liabilities (GASB 65), which was adopted by the Village for the year ended
December 31, 2013. GASB 65 now establishes accounting and financial reporting standards that
reclassify, 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 or inflows of
resources, certain items that were previously reported as assets and liabilities. In accordance with GASB
65 the Village now reports both deferred inflows of resources and deferred outflows of resources on its
financial statements.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
47
Note 1. Summary of Significant Accounting Policies (Continued)
Measurement Focus, Basis of Accounting, and Financial Statement Presentation (Continued)
The Village reports both deferred inflows of resources and unearned revenues on its financial statements.
Deferred inflows of resources arise when a potential revenue does not meet both the "measurable" and
"available" criteria for recognition in the current period for the governmental funds. Deferred inflows of
resources also result when timing requirements relating to imposed tax revenues are not met, as in when
property tax receivables are recorded prior to the period the levy is intended to finance. 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.
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.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
48
Note 1. Summary of Significant Accounting Policies (Continued)
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.
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:
Land improvements 25 - 50 years
Bridges 50 years
Buildings and improvements 10 - 50 years
Infrastructure* 25 - 60 years
Stormsewer system 40 years
Water mains 50 years
Sanitary mains 50 years
Machinery and equipment, and vehicles 4 - 30 years
Library books and materials 7 years
*Infrastructure includes roads, curbs, gutters, recreational paths, street lights, field lights, 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
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
49
Note 1. Summary of Significant Accounting Policies (Continued)
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 expensed when incurred.
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.
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.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
50
Note 1. Summary of Significant Accounting Policies (Continued)
Interfund Transactions (Continued)
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.
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.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
51
Note 2. Deposits and Investments (Continued)
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' Pension 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, 2015, cash and investments consisted of the following:
Pension Agency Component
Village Trust Funds Funds Unit Total
Demand deposits 55,211,677 $ 2,642,906 $ 336,508 $ 4,759,980 $ 62,951,071 $
Certificates of deposit 15,840,064 - 1,031,575 246,800 17,118,439
The Illinois Funds 8,438,136 9,399 - 1,769 8,449,304
U.S. treasury obligations 4,728,979 16,171,930 - - 20,900,909
U.S. agency obligations - 26,828,646 - - 26,828,646
Municipal obligations - 5,238,309 - - 5,238,309
Corporate obligations - 10,724,801 - - 10,724,801
Mutual funds - equity - 78,613,910 - - 78,613,910
Total 84,218,856 $ 140,229,901 $ 1,368,083 $ 5,008,549 $ 230,825,389 $
Fiduciary Activities
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.
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, 2015, the Village was not
exposed to custodial credit risk on deposits.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
52
Note 2. Deposits and Investments (Continued)
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, 2015 the Village had the following investments and maturities:
Fair Less Greater
Investment Type Value than 1 1-5 than 5
U.S. treasury obligations 4,728,979 $ 4,728,979 $ -$ -$
Totals 4,728,979 $ 4,728,979 $ -$ -$
Investment Maturities (in years)
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, 2015, the Police Pension Fund had the following investments and maturities:
Fair Less Greater
Investment Type Value than 1 1-5 6-10 than 10
U.S. treasury obligations 12,095,328 $ 2,649,344 $ 8,572,640 $ 873,344 $ -$
U.S. agency obligations 6,750,089 - 1,990,137 4,044,733 715,219
Municipal obligations 366,981 85,033 256,128 25,820 -
Corporate obligations 10,724,801 490,440 6,977,487 3,214,328 42,546
Totals 29,937,199 $ 3,224,817 $ 17,796,392 $ 8,158,225 $ 757,765 $
Investment Maturities (in years)
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
53
Note 2. Deposits and Investments (Continued)
Interest Rate Risk (Continued)
As of December 31, 2015, the Firefighters’ Pension Fund had the following investments and maturities:
Fair Less Greater
Investment Type Value than 1 1-5 6-10 than 10
U.S. treasury obligations 4,076,602 $ 554,000 $ 2,766,391 $ 756,211 $ -$
U.S. agency obligations 20,078,557 494,124 6,905,779 12,429,056 249,598
Municipal obligations 4,871,328 50,378 2,027,402 1,713,396 1,080,152
Totals 29,026,487 $ 1,098,502 $ 11,699,572 $ 14,898,663 $ 1,329,750 $
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. 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.
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 & Poor'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.
The Illinois Funds Money Market Fund and Prime Fund are rated AAA by Standard & Poor's.
As of December 31, 2015, the Pension Funds had the following fixed income investments which are rated
by Standard & Poor’s as follows:
Standard & Poor's:Fair
Value AAA AA A BBB Not Rated
U.S. agency obligations 26,828,646 $ -$ 25,779,493 $ -$ -$ 1,049,153 $
Municipal obligations 5,238,309 869,340 2,611,719 272,373 - 1,484,877
Corporate obligations 10,724,801 161,381 1,058,436 5,131,968 4,324,290 48,726
Totals 42,791,756 $ 1,030,721 $ 29,449,648 $ 5,404,341 $ 4,324,290 $ 2,582,756 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
54
Note 2. Deposits and Investments (Continued)
Credit Risk (Continued)
As of December 31, 2015, the Pension Funds had the following fixed income investments which are rated
by Moody’s as follows:
Moody's:Fair
Value Aaa Aa A Baa Not Rated
U.S. agency obligations 26,828,646 $ 25,530,663 $ -$ -$ -$ 1,297,983 $
Municipal obligations 5,238,309 895,161 2,046,363 272,373 - 2,024,412
Corporate obligations 10,724,801 161,381 1,052,605 4,041,559 5,377,983 91,273
Totals 42,791,756 $ 26,587,205 $ 3,098,968 $ 4,313,932 $ 5,377,983 $ 3,413,668 $
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, soundly diversified and held by a third-party custodian. The
Illinois Funds are not subject to custodial credit risk.
The Police Pension Fund’s investment policy requires all securities that are exposed to custodial credit
risk to be held by a third-party custodian. 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, soundly diversified and held by a third-party custodian. 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, 2015.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
55
Note 2. Deposits and Investments (Continued)
Concentration of Credit Risk (Continued)
The Pension Funds' investment policies require diversification of investment to avoid unreasonable risk.
As of December 31, 2015, 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:
Fire Pension
Federal Home Loan Bank 9,833,241 $
Federal Farm Credit Bank 8,894,327
18,727,568 $
The Police Pension Fund did not have any such investments as of December 31, 2015.
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 2015
are intended to finance the Village’s subsequent fiscal year and have been recorded as deferred inflows
of resources. The Village has recognized the 2014 tax levy as revenue in fiscal year 2015.
Taxes Receivable
The following receivables are included in Receivables - Taxes on the Governmental Funds Balance
Sheet and Statement of Net Position - Governmental Activities:
Property 10,946,648 $
Sales 6,185,110
Utility 885,278
Income 977,011
Use 381,871
Franchise 200,006
Hotel 96,014
Amusement 13,343
Total taxes receivable 19,685,281 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
56
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 9,363 $
Tipping fees 44,604
911 surcharge fees 180,666
Grants 2,741,982
Interest 18,530
Licenses 120,609
Other 469,694
Total other receivables - Governmental Funds 3,585,448
Internal Service Funds and other adjustments 84,443
Total other receivables - Governmental Activities 3,669,891 $
Due From Other Governments
The following amount due from other governments 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 taxes 100,865 $
Total due from other governments 100,865 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
57
Note 4. Capital Assets
Governmental Activities
A summary of changes in capital assets for governmental activities of the Village is as follows:
Balance Balance
January 1, December 31,
2015 Additions Deletions 2015
Capital assets not being depreciated
Construction in progress 4,005,984 $ 7,718,403 $ 11,644,131 $ 80,256 $
Land 8,779,220 12,297,476 - 21,076,696
Land right of way 55,244,762 37,189 - 55,281,951
Total capital assets not being
depreciated 68,029,966 20,053,068 11,644,131 76,438,903
Capital assets being depreciated
Buildings and improvements 81,430,310 13,549,965 - 94,980,275
Machinery and equipment 14,146,652 3,771,430 498,743 17,419,339
Infrastructure 145,274,338 8,949,987 197,703 154,026,622
Total capital assets being
depreciated 240,851,300 26,271,382 696,446 266,426,236
Less accumulated depreciation
Buildings and improvements 20,428,821 2,054,596 - 22,483,417
Machinery and equipment 8,446,923 1,403,743 442,445 9,408,221
Infrastructure 64,234,402 3,552,467 197,703 67,589,166
Total accumulated depreciation 93,110,146 7,010,806 640,148 99,480,804
Total capital assets being
depreciated, net 147,741,154 19,260,576 56,298 166,945,432
Governmental activities, capital
assets, net 215,771,120 $ 39,313,644 $ 11,700,429 $ 243,384,335 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
58
Note 4. Capital Assets (Continued)
Business-type Activities
A summary of changes in capital assets for business-type activities of the Village is as follows:
Balance Balance
January 1, December 31,
2015 Additions Deletions 2015
Capital assets not being depreciated
Land 802,851 $ -$ 235,000 $ 567,851 $
Construction in progress 114,700 68,169 182,869 -
Total capital assets not being
depreciated 917,551 68,169 417,869 567,851
Capital assets being depreciated
Buildings and improvements 2,613,425 182,869 - 2,796,294
Water system 60,533,986 2,379,112 6,938,919 55,974,179
Sanitary sewer system 25,346,021 853,151 1,936,574 24,262,598
Equipment and vehicles 4,909,945 253,000 571,861 4,591,084
Total capital assets being
depreciated 93,403,377 3,668,132 9,447,354 87,624,155
Less accumulated depreciation
Buildings and improvements 891,492 78,359 - 969,851
Water system 19,902,960 1,172,241 2,257,835 18,817,366
Sanitary sewer system 6,137,842 485,723 672,089 5,951,476
Equipment and vehicles 4,162,605 218,257 571,861 3,809,001
Total accumulated depreciation 31,094,899 1,954,580 3,501,785 29,547,694
Total capital assets being
depreciated, net 62,308,478 1,713,552 5,945,569 58,076,461
Business-type activities, capital
assets, net 63,226,029 $ 1,781,721 $ 6,363,438 $ 58,644,312 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
59
Note 4. Capital Assets (Continued)
Depreciation Expense
Depreciation expense was charged to functions/programs of the primary government's governmental
activities as follows:
General government 4,130,659 $
Public safety 1,621,077
Public works 825,799
Development 433,271
Total governmental activity depreciation expense 7,010,806 $
Depreciation expense for the business-type activities are as follows:
Glenview Water Fund 1,277,487 $
North Maine Water and Sewer Fund 68,725
Glenview Sanitary Sewer Fund 470,652
Wholesale Water Fund 62,816
Commuter Parking Fund 74,900
Total business-type activity depreciation expense 1,954,580 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
60
Note 4. Capital Assets (Continued)
Component Unit – Glenview Library
A summary of changes in capital assets for the Library is as follows:
Balance Balance
January 1, December 31,
2015 Additions Deletions 2015
Capital assets not being depreciated:
Land 5,426,987 $ -$ -$ 5,426,987 $
Capital assets being depreciated:
Buildings and improvements 26,901,546 - - 26,901,546
Equipment and vehicles 128,107 - - 128,107
Library books and materials 7,092,412 660,564 547,713 7,205,263
Total capital assets being
depreciated 34,122,065 660,564 547,713 34,234,916
Less accumulated depreciation:
Buildings and improvements 2,641,080 538,031 - 3,179,111
Equipment and vehicles 109,942 3,678 - 113,620
Library books and materials 5,247,331 542,748 547,713 5,242,366
Total accumulated depreciation 7,998,353 1,084,457 547,713 8,535,097
Total capital assets being
depreciated, net 26,123,712 (423,893) - 25,699,819
Total capital assets, net 31,550,699 $ (423,893) $ -$ 31,126,806 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
61
Note 5. 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 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, $500,000
for Village employees and $600,000 for police officers and firefighters 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, 2015 was $1,581,100.
A reconciliation of the claims liability for the current year and that of the preceding year is reported below:
Unpaid claims liability - January 1, 2014 1,696,121 $
Claims incurred - calendar year 2014 1,245,412
Claims paid - calendar year 2014 (1,103,269)
Unpaid claims liability - December 31, 2014 1,838,264
Claims incurred - calendar year 2015 239,502
Claims paid - calendar year 2015 (496,666)
Unpaid claims liability - December 31, 2015 1,581,100 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
62
Note 5. Risk Management (Continued)
Intergovernmental Personnel Benefit Cooperative (IPBC)
The Village participates in the Intergovernmental Personnel Benefit Cooperative (IPBC). IPBC is a public
entity risk pool established by certain units of local government 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 employees and to the employees of certain other governmental, quasi-governmental,
and nonprofit public service entities.
Management consists of a Board of Directors, comprised of one representative from each member or
sub-ped. Additionally, there is an Executive Board that sets the strategic direction of IPBC. 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 that provide excess liability coverage ($11,000,000 of
coverage after a $2,000,000 self-insurance retention). The purpose of HELP is to act as a joint self-
insurance pool for the purpose of providing excess liability insurance to municipalities. 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 with members committing to ten-
year terms. 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.
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, 2015
63
Note 6. Long-Term Debt
Changes in Long-Term Liabilities
The following is a summary of changes in the Village's long-term liabilities in 2015:
Balance Balance Amounts
January 1,December 31, due within
2015 Additions Deductions 2015 one year
Governmental activities:
General obligation bonds 64,690,000 $ 10,000,000 $ 16,645,000 $ 58,045,000 $ 6,900,000 $
Loan payable 6,931,805 - 1,330,309 5,601,496 1,330,309
Capital lease payable - 981,451 250,618 730,833 240,041
Unamortized
Bond discount (59,857) - (13,810) (46,047) -
Bond premium 3,463,458 - 478,066 2,985,392 -
Compensated absences 1,591,811 318,362 369,014 1,541,159 308,232
Claims payable 1,838,264 239,502 496,666 1,581,100 632,440
Net pension liability 68,812,213 27,790,596 25,181,773 71,421,036 -
Other postemployment benefits 2,293,641 740,015 398,137 2,635,519 -
Total governmental activities 149,561,335 40,069,926 45,135,773 144,495,488 9,411,022
Business-type activities:
General obligation bonds 1,510,000 - 745,000 765,000 765,000
Notes payable 933,950 3,003,592 933,950 3,003,592 50,000
Unamortized
Bond discount (640) - (320) (320) -
Bond premium 6,450 - 3,173 3,277 -
Compensated absences 66,538 13,308 15,916 63,930 12,786
Net pension liability 809,587 1,970,204 1,241,988 1,537,803 -
Total business-type activities 2,516,298 3,016,900 1,697,719 5,373,282 827,786
Total Village long-term
liabilities 152,077,633 $ 43,086,826 $ 46,833,492 $ 149,868,770 $ 10,238,808 $
Component Unit - Glenview Library
General obligation bonds 21,610,000 $ -$ 1,125,000 $ 20,485,000 $ 1,155,000 $
Compensated absences 275,400 55,080 61,284 269,196 53,839
Net pension liability 1,133,499 2,683,399 1,722,425 2,094,473 -
Total component unit -
Glenview Library 23,018,899 $ 2,738,479 $ 2,908,709 $ 22,848,669 $ 1,208,839 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
64
Note 6. Long-Term Debt (Continued)
Changes in Long-Term Liabilities (Continued)
The following changes in the Village’s general obligation bonded debt, notes and loans payable occurred
in 2015:
Beginning Ending Due Within
Issue Balance Issuances Retirements Balance One Year
Governmental activities
$10,000,000 General Obligation
Bond Series 2006A 10,000,000 $ -$ 10,000,000 $ -$ -$
$11,290,000 General Obligation
Bond Series 2009D 5,455,000 - 1,370,000 4,085,000 1,365,000
$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 - 1,200,000 13,375,000 1,245,000
$7,730,000 General Obligation
Refunding Bond Series 2012C 6,365,000 - 1,440,000 4,925,000 1,540,000
$6,065,000 General Obligation
Bond Series 2013A 5,820,000 - 240,000 5,580,000 245,000
$4,385,000 General Obligation
Bond Taxable Series 2013B 4,385,000 - - 4,385,000 -
$10,000,000 General Obligation
Bond Series 2015 - 10,000,000 2,395,000 7,605,000 2,505,000
Total governmental general
obligation bonded debt 64,690,000 $ 10,000,000 $ 16,645,000 $ 58,045,000 $ 6,900,000 $
$633,827 Illinois Environmental
Protection Agency Loan 402,117 - 24,371 377,746 24,371
$6,529,688 Taxable Term Loan 6,529,688 - 1,305,938 5,223,750 1,305,938
Total loans payable 6,931,805 - 1,330,309 5,601,496 1,330,309
Total governmental debt 71,621,805 $ 10,000,000 $ 17,975,309 $ 63,646,496 $ 8,230,309 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
65
Note 6. Long-Term Debt (Continued)
Changes in Long-Term Liabilities (Continued)
Beginning Ending Due Within
Issue Balance Issuances Retirements Balance One Year
Business-type activities
$5,000,000 General Obligation
Bond Series 2007A
Debt retired by:
Glenview Sanitary Sewer Fund 550,000 $ -$ 270,600 $ 279,400 $ 279,400 $
Glenview Water Fund 700,000 - 344,400 355,600 355,600
1,250,000 - 615,000 635,000 635,000
$1,200,000 General Obligation
Bond Taxable Series 2007B 260,000 - 130,000 130,000 130,000
Total business-type general
obligation bonded debt 1,510,000 - 745,000 765,000 765,000
$7,333,416 Draw/Term Note - 3,003,592 - 3,003,592 50,000
$2,850,000 Corporate Purpose
Note Series 1997 933,950 - 933,950 - -
Total business-type notes payable 933,950 3,003,592 933,950 3,003,592 50,000
Total business-type debt 2,443,950 $ 3,003,592 $ 1,678,950 $ 3,768,592 $ 815,000 $
Component Unit-Glenview Library
$26,300,000 General Obligation
Bond Series 2009A 21,610,000 - 1,125,000 20,485,000 1,155,000
Total component-unit debt 21,610,000 $ -$ 1,125,000 $ 20,485,000 $ 1,155,000 $
Total debt 95,675,755 $ 13,003,592 $ 20,779,259 $ 87,900,088 $ 10,200,309 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
66
Note 6. Long-Term Debt (Continued)
General Long-Term Debt
The Village issues general obligation bonded debt to finance capital projects. At December 31, 2015,
general obligation bonded debt is comprised of the following:
Remaining Balance
$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.635,000 $
$1,200,000 General Obligation Bond Taxable 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.130,000
$26,300,000 General Obligation Bond 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.20,485,000
$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.4,085,000
$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.13,375,000
$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.4,925,000
$6,065,000 General Obligation Bond Series 2013A
Dated December 19, 2013. Due in annual installments of $245,000 to
$410,000 plus interest at 2.0% to 4.0% through December 1, 2033.
Debt is retired by the Corporate Purpose Debt Service Fund.5,580,000
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
67
Note 6. Long-Term Debt (Continued)
General Long-Term Debt (Continued)
Remaining Balance
$4,385,000 General Obligation Bond Taxable Series 2013B
Dated December 19, 2013. Due in annual installments of $585,000 to
$680,000 plus interest at 1.5% to 3.5% through December 1, 2023.
Debt is retired by the Waukegan Golf TIF Fund.4,385,000 $
$10,000,000 General Obligation Refunding Bond Series 2015
Dated July 30, 2015. Due in annual installments of $2,395,000
to $2,565,000 plus interest at 0.44% to 1.05% through December 1, 2018.
Debt is retired by the Special Tax Allocation Fund.7,605,000
Total general obligation bonded debt 79,295,000
At December 31, 2015, notes payable is comprised of the following:
$7,333,416 Draw/Term Note
Dated May 1, 2015. Due in annual installments of $50,000 to $1,200,000
plus interest at a rate using the LIBOR rate through conversion date (August 1,
2016) and 2.0% thereafter on June 1 and December 1 each year through
December 1, 2025. Debt is retired by the Water Fund. The note proceeds were
utilized for capital improvements.3,003,592
At December 31, 2015, loans payable is comprised of the following:
$633,827 Illinois Environmental Protection Agency Loan
Dated January 22, 2010. Due in semi-annual installments of $6,617 to $12,185
with no interest due through April 14, 2031. Debt is retired by the
Capital Projects Fund. The loan proceeds were utilized for a capital project.377,746
$6,529,688 5 Year Loan
Dated December 1, 2014. Due in 5 installments of $1,305,938 and
interest of 1.850% on June 1 and December 1 each year through
December 1, 2019. Debt is retired by the Special Tax Allocation Fund.
The loan proceeds were utilized to pay off debt issued to finance the purchase
land held for resale.5,223,750
Total loans payable 5,601,496
Total debt 87,900,088 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
68
Note 6. Long-Term Debt (Continued)
Loan Payable
On May 1, 2015, the Village agreed to borrow up to $7,333,416 from Glenview State Bank in a draw-loan
in order to finance water capital improvements for Advanced Metering Infrastructure (AMI) for the
Glenview Water System. This is a Bank Qualified Tax Exempt loan and the Village has drawn
$3,003,592 as of December 31, 2015. The remaining amount is expected to be drawn by July 31, 2016.
Current Refunding
On July 30, 2015, the Village issued $10,000,000 in general obligation refunding bonds, Series 2015, with
varying interest rates of 0.44 to 1.05 percent in order to refund $10,000,000 of outstanding general
obligation bonds, Series 2006A, with an average interest rate of 4.6 percent. The net proceeds of
$10,088,542 (including issuer equity contributions of $108,792, less issuance costs of $20,250) were
transferred to the paying agent in order to refund the Series 2006A on the call date of August 25, 2015.
The Village refunded the Series 2006A 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 2006A four
years by approximately $497,821 and achieved an economic gain of approximately $488,737 (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 and loans payable debt service requirements to maturity for the
Village’s governmental activities are as follows:
Fiscal Year Ending
December 31,Principal Interest Principal Interest
2016 6,900,000 $ 1,994,241 $ 1,330,308 $ 98,250 $
2017 7,670,000 1,760,515 1,330,308 73,486
2018 7,870,000 1,509,117 1,330,308 48,991
2019 8,125,000 1,231,791 1,330,308 24,495
2020 8,390,000 980,472 24,371 -
2021-2025 16,210,000 1,686,810 121,854 -
2026-2030 1,695,000 443,826 121,854 -
2031-2033 1,185,000 96,000 12,185 -
Totals 58,045,000 $ 9,702,772 $ 5,601,496 $ 245,222 $
General Obligation Bonds Loans Payable
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
69
Note 6. 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,Principal Interest Principal Interest
2016 765,000 $ 30,312 $ 50,000 $ 93,178 $
2017 - - 300,000 145,668
2018 - - 500,000 139,668
2019 - - 700,000 129,668
2020 - - 900,000 115,668
2021-2025 - - 553,592 268,740
Totals 765,000 $ 30,312 $ 3,003,592 $ 892,590 $
General Obligation Bonds Corporate 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,Principal Interest
2016 1,155,000 $ 780,131 $
2017 1,190,000 745,481
2018 1,225,000 703,831
2019 1,270,000 660,956
2020 1,310,000 616,506
2021-2025 7,330,000 2,303,980
2026-2029 7,005,000 730,793
Totals 20,485,000 $ 6,541,678 $
Noncommitment Debt – Special Service Area Bonds
The special service area bonds outstanding as of December 31, 2015 totaled $329,706. 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, 2015
70
Note 6. Long-Term Debt (Continued)
Compensated Absences and Other Postemployment Benefits
The General Fund is used to liquidate any liability for compensated absences and other postemployment
benefits of governmental activities.
Note 7. 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, 2015 are shown as follows:
Due to/from Other Funds
Due From/To
Receivable Fund Payable Fund Other Funds
General Fund Capital Projects Fund 624,757 $
Capital Projects Fund Permanent Fund 1,926,890
General Fund Nonmajor Governmental Funds 377
General Fund Internal Service Fund 14,675
Pension Trust Funds General Fund 22,117
Total 2,588,816 $
Advances to/from Other Funds
Advance From/To
Advance From Advance To Other Funds
Special Tax Allocation Fund Village Permanent Fund 15,227,345 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
71
Note 7. 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, 2015 were as follows:
Transfers In Transfers Out Amount
General Special Tax Allocation 294,178 $
General Capital Projects 1,800,000
General Nonmajor Enterprise 300,000
General North Maine Water and Sewer 206,601
General Internal Service 232,540
Nonmajor Governmental General 2,269,836
Capital Projects General 11,704,642
Capital Projects Village Permanent 5,515,596
Capital Projects Nonmajor Enterprise 494,295
Capital Projects Internal Service 637,573
Village Permanent North Maine Water and Sewer 10,000,000
Nonmajor Governmental Village Permanent 9,425
Glenview Water North Maine Water and Sewer 285,602
Glenview Sewer North Maine Water and Sewer 79,974
33,830,262 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
72
Note 8. 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 9).
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 9).
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 2015, the Village made payments to the retailer totaling $2,048,537
in accordance with the terms of this agreement.
In June 2014, a retailer finished construction of a new multi-vehicle brand dealership and opened its
operation in the Village. Under an economic incentive agreement entered into by the Village and the
retailer, every year upon the generation of a minimum amount of gross revenue through sales a portion of
the local sales tax receipts received by the Village is rebated back to the retailer. Fiscal year 2015 is the
first year sales tax rebates have been earned and they approximate $285,000.
Construction Commitments
The Village has certain contracts in various funds for construction projects which were in progress at
December 31, 2015. Remaining commitments under these contracts approximated $1,025,966.
Note 9. 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
9.19%. 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 5 for more detail
regarding HELP.)
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
73
Note 9. 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 $606,909 to SWANCC for the year
ended December 31, 2015. The payments are recorded in the General Fund. The Village does not have
an equity interest in SWANCC at December 31, 2015.
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 website,
www.swancc.org.
Note 10. 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 Village’s
plan is managed by the Illinois Municipal Retirement Fund (IMRF), the administrator of an agent multiple-
employer public pension fund. A summary of IMRF’s pension benefits is provided in the “Benefits
Provided” section of this document. Details of all benefits are available from IMRF. 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 Comprehensive Annual Financial Report that includes financial statements,
detailed information about the pension plan’s fiduciary net position, and required supplementary
information. The report is available for download at www.imrf.org.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
74
Note 10. Employee Retirement Systems (Continued)
Illinois Municipal Retirement Fund (Continued)
Benefits Provided
IMRF has three benefit plans. The vast majority of IMRF members participate in the Regular Plan (RP).
The Sheriff’s Law Enforcement Personnel (SLEP) plan is for sheriffs, deputy sheriffs, and selected police
chiefs. Counties could adopt the Elected County Official (ECO) plan for officials elected prior to August 8,
2011 (the ECO plan was closed to new participants after that date).
All three IMRF benefit plans have two tiers. Employees hired before January 1, 2011, are eligible for Tier
1 benefits. Tier 1 employees are vested for pension benefits when they have at least eight years of
qualifying service credit. Tier 1 employees who retire at age 55 (at reduced benefits) or after age 60 (at
full benefits) with eight years of service are entitled to an annual retirement benefit, payable monthly for
life, in an amount equal to 1-2/3% of the final rate of earnings for the first 15 years of service credit, plus
2% for each year of service credit after 15 years to a maximum of 75% of their final rate of earnings. Final
rate of earnings is the highest total earnings during any consecutive 48 months within the last 10 years of
service, divided by 48. Under Tier 1, the pension is increased by 3% of the original amount on January 1
every year after retirement.
Employees hired on or after January 1, 2011, are eligible for Tier 2 benefits. For Tier 2 employees,
pension benefits vest after ten years of service. Participating employees who retire at age 62 (at reduced
benefits) or after age 67 (at full benefits) with ten years of service are entitled to an annual retirement
benefit, payable monthly for life, in an amount equal to 1-2/3% of the final rate of earnings for the first 15
years of service credit, plus 2% for each year of service credit after 15 years to a maximum of 75% of
their final rate of earnings. Final rate of earnings is the highest total earnings during any 96 consecutive
months within the last 10 years of service, divided by 96. Under Tier 2, the pension is increased on
January 1 every year after retirement, upon reaching age 67, by the lesser of:
• 3% of the original pension amount, or
• 1/2 of the increase in the Consumer Price Index of the original pension amount.
Employees Covered by Benefit Terms
As of December 31, 2015, the following employees were covered by the benefit terms:
Membership
Retirees or beneficiaries currently receiving benefits 237
Inactive Plan members entitled to but not yet receiving benefits 154
Active Plan members 209
Total membership 600
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
75
Note 10. Employee Retirement Systems (Continued)
Illinois Municipal Retirement Fund (Continued)
Contributions
As set by statute, the Village’s Regular Plan Members are required to contribute 4.5% of their annual
covered salary. The statute requires employers to contribute the amount necessary, in addition to
member contributions, to finance the retirement coverage of its own employees. The Village’s annual
contribution rate for calendar year 2015 was 12.62%. For the fiscal year ended 2015, the Village
contributed $2,146,493 to the plan. 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 IMRF’s Board of Trustees, while the supplemental retirement
benefits rate is set by statute
Net Pension Liability
The Village’s net pension liability was measured as of December 31, 2014. The total pension liability used
to calculate the net pension liability was determined by an actuarial valuation as of that date.
Actuarial Assumptions
The following are the methods and assumptions used to determine total pension liability at December 31,
2014:
• The Actuarial Cost Method used was Entry Age Normal.
• The Asset Valuation Method used was Market Value of Assets.
• The Inflation Rate was assumed to be 3.5%.
• Salary Increases were expected to be 3.75% to 14.50%, including inflation.
• The Investment Rate of Return was assumed to be 7.50%.
• Projected Retirement Age was from the Experience-based Table of Rates, specific to the type
of eligibility condition, last updated for the 2014 valuation according to an experience study from
years 2011 to 2013.
• The IMRF-specific rates for Mortality (for non-disabled retirees) were developed from the RP-
2014 Blue Collar Health Annuitant Mortality Table with adjustments to match current IMRF
experience.
• For Disabled Retirees, an IMRF-specific mortality table was used with fully generational
projection scale MP-2014 (base year 2014). The IMRF-specific rates were developed from the
RP-2014 Disabled Retirees Mortality Table, applying the same adjustments that were applied
for non-disabled lives.
• For Active Members, an IMRF-specific mortality table was used with fully generational
projection scale MP-2014 (base year 2014). The IMRF-specific rates were developed from the
RP-2014 Employee Mortality Table with adjustments to match current IMRF experience.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
76
Note 10. Employee Retirement Systems (Continued)
Illinois Municipal Retirement Fund (Continued)
Actuarial Assumptions (Continued)
• The long-term expected rate of return on pension plan investments was determined using a
building-block method in which best-estimate ranges of expected future real rates of return
(expected returns, net of pension plan investment expense, and inflation) are developed for
each major asset class. These ranges are combined to produce the long-term expected rate of
return by weighting the expected future real rates of return to the target asset allocation
percentage and adding expected inflation. The target allocation and best estimates of geometric
real rates of return for each major asset class are summarized in the following table:
Long-Term
Target Expected Real
Asset Class Asset Allocation Rate of Return
Domestic Equity 38.00%7.60%
International Equity 17.00%7.80%
Fixed Income 27.00%3.00%
Real Estate 8.00%6.15%
Alternative Investments 9.00%5.25 - 8.50%
Cash Equivalents 1.00%2.25%
Total 100.00%
Single Discount Rate
A Single Discount Rate of 7.50% was used to measure the total pension liability. The projection of cash
flow used to determine this Single Discount Rate assumed that the plan members’ contributions will be
made at the current contribution rate, and that employer contributions will be made at rates equal to the
difference between actuarially determined contribution rates and the member rate. The Single Discount
Rate reflects:
1. The long-term expected rate of return on pension plan investments (during the period in which
the fiduciary net position is projected to be sufficient to pay benefits), and
2. The tax-exempt municipal bond rate based on an index of 20-year general obligation bonds with
an average AA credit rating (which is published by the Federal Reserve) as of the measurement
date (to the extent that the contributions for use with the long-term expected rate of return are
not met).
For the purpose of the most recent valuation, the expected rate of return on plan investments is 7.50%,
the municipal bond rate is 3.56%, and the resulting single discount rate is 7.50%.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
77
Note 10. Employee Retirement Systems (Continued)
Illinois Municipal Retirement Fund (Continued)
Changes in Net Pension Liability
Total Pension Plan Fiduciary Net Pension
Liability Net Position Liability
(a)(b)(a) - (b)
Balances at beginning of year measurement date 90,338,854 $ 85,118,217 $ 5,220,637 $
Changes for the year:
Service cost 1,820,396 - 1,820,396
Interest 6,687,409 - 6,687,409
Differences between expected and actual experience 1,332,409 - 1,332,409
Changes of assumptions 3,276,901 - 3,276,901
Contributions - employer - 2,164,748 (2,164,748)
Contributions - employee - 730,940 (730,940)
Net investment income - 5,153,430 (5,153,430)
Benefit payments, including refunds of
employee contributions (4,167,199) (4,167,199) -
Other changes - 229,348 (229,348)
Net changes 8,949,916 4,111,267 4,838,649
Balances at end of year measurement date 99,288,770 $ 89,229,484 $ 10,059,286 $
Increase (Decrease)
Sensitivity of the Net Pension Liability to Changes in the Discount Rate
The following presents the plan’s net pension liability, calculated using a Single Discount Rate of 7.50%,
as well as what the plan’s net pension liability would be if it were calculated using a Single Discount Rate
that is 1% lower or 1% higher:
1% Decrease
(6.50%)
Current Discount
Rate (7.50%)
1% Increase
(8.50%)
Village's net pension liability (Asset) 24,413,791 $ 10,059,286 $ (1,611,655) $
The net pension liability of $10,059,286 as of December 31, 2015 is reported on the financial statements
as follows:
Total
Net Pension Liability 6,427,010 $ 1,260,913 $ 276,890 $ 1,537,803 $ 2,094,473 $ 10,059,286 $
Governmental
Activities
Component
Unit - Library
Total Business-
Type Activties
Business-Type Activities
Glenview Water
Fund
Glenview Sanitary
Sewer Fund
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
78
Note 10. Employee Retirement Systems (Continued)
Illinois Municipal Retirement Fund (Continued)
Pension Expense, Deferred Outflows of Resources, and Deferred Inflows of Resources Related to
Pensions
For the year ended December 31, 2015, the Village recognized pension expense of $2,537,883. At
December 31, 2015, the Village reported deferred outflows or resources and deferred inflows of
resources related to pensions from the following sources:
Deferred Outflows Deferred Inflows
of Resources of Resources
Differences between expected and actual
experience 1,015,335 $ -$
Changes of assumptions 2,497,095 -
Net differences between projected and actual
earnings on pension plan investments 953,084 -
Changes in component proportion between
governmental, business and component unit 45,375 45,375
Total deferred amounts to be recognized in
pension expense in future periods 4,510,889 $ 45,375 $
The deferred inflows of resources and deferred outflows of resources as of December 31, 2015 are
reported on the financial statements as follows:
Total
Deferred Outflows
of Resources 2,897,261 $ 559,744 $ 124,107 $ 683,851 $ 929,777 $ 4,510,889 $
Deferred Inflows of
Resources - 9,944 - 9,944 35,431 45,375
Governmental
Activities
Business-Type Activities
Total Business-
Type Activties
Component
Unit - Library
Glenview Water
Fund
Glenview Sanitary
Sewer Fund
Amounts reported as deferred outflows of resources and deferred inflows of resources related to
pensions will be recognized in pension expense in future periods as follows:
Year ended December 31:
2016 1,335,151 $
2017 1,335,151
2018 1,335,151
2019 460,061
2020 -
Thereafter -
4,465,514 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
79
Note 10. Employee Retirement Systems (Continued)
The Districts contributions to IMRF subsequent to the measurement date of the net pension liability
(December 31, 2014) amounted to $2,169,201 which is made up of and are reported as deferred outflows
of resources as follows:
Total
Deferred Outflows
of Resources 1,385,931 $ 271,905 $ 59,709 $ 331,614 $ 451,656 $ 2,169,201 $
Governmental
Activities
Business-Type Activities
Total Business-
Type Activties
Component
Unit - Library
Glenview Water
Fund
Glenview Sanitary
Sewer Fund
These amounts will be included in pension expense in fiscal year 2016.
The schedule of changes in net pension liability, total pension liability and related ratios and investment
returns and the schedule of contributions are presented as Required Supplementary Information (RSI)
following the notes to the financial statements.
Police Pension Fund
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.
Administrative costs are financed through investment earnings. No stand-alone statements are issued for
the defined benefit pension plan.
Plan Description
Plan administration:
Police-sworn personnel are covered by the Police Pension Plan, which is a defined benefit single-
employer pension plan administered by the Village of Glenview. Although this is a single-employer
pension plan, the defined benefits and employee and employer contribution levels are governed by Article
3 of the Illinois Pension Code and may be amended only by the Illinois legislature. The Village accounts
for the plan as a pension trust fund. An actuarial valuation was performed as of December 31, 2015, and,
accordingly, the most recent available information has been presented.
Management of the Police Pension Plan is vested in the Police Pension Board which consists of five
members, two members are elected from and by the active police, one is elected from and by the
beneficiaries and two are appointed by the Village President with the approval of the Village Board of
Trustees. There have been no changes in the makeup of the Board during fiscal year 2015.
Plan Membership:
At December 31, 2015, the Police Pension Plan membership consisted of:
Membership
Retirees or beneficiaries currently receiving benefits 57
Inactive Plan members entitled to but not yet receiving benefits -
Active Plan members 68
Total membership 125
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
80
Note 10. Employee Retirement Systems (Continued)
Police Pension Fund (Continued)
Plan Description (Continued)
Benefits provided:
The Illinois Pension Code (40 ILCS 5/Art. 3) is the authority under which pension benefit terms are
established. The Police Pension Plan provides retirement benefits as well as death and disability benefits.
Covered employees hired before January 1, 2011 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.
Covered employees hired on or after January 1, 2011 attaining the age of 55 or more with 10 or more
years of creditable service are entitled to receive an annual retirement benefit of 2.5% of final average
salary for each year of service, with a maximum salary cap of $106,800 as of January 1, 2011. The
maximum salary cap increases each year thereafter. The monthly benefit of a police officer hired before
January 1, 2011, who retired with 20 or more years of services 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% compounded annually thereafter. The monthly pension of
a police officer hired on or after January 1, 2011, shall be increased annually, following the later of the
first anniversary date of retirement or the month following the attainment of age 60, but the lessor of 3%
or one half of the consumer price index. Employees with at least 10 years but less than 20 years of
credited service may retire at or after age 60 and receive a reduced benefit.
Contributions:
Covered 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 Illinois Pension Code (40 ILCS 5/Art. 3) establishes the
contribution requirements of the Village. The annual requirement is equal to (1) the normal cost of the
pension fund for the year plus (2) an amount sufficient to bring the total assets of the pension fund up to
90% of the actuarial liabilities of the pension fund by December 31, 2040. Only the State legislature can
amend the contribution requirements. For the year ended December 31, 2015, the statutory minimum
which the Village was required to contribute was $1,722,541, or 24.50% of member payroll, to the Police
Pension Fund.
Investments
Investment policy:
The pension plan’s policy in regard to the allocation of invested assets is established and may be
amended by the Police Pension Board by a majority vote of its members. It is the policy of the Police
Pension Board to pursue an investment strategy that minimizes risk through the prudent diversification of
the portfolio across a broad selection of distinct asset classes. The pension plan’s investment policy
discourages the use of cash equivalents, except for liquidity purposes, and aims to refrain from
dramatically shifting asset class allocations over short time spans. See Note 2 for more details on the
Police Pension’s investment policy.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
81
Note 10. Employee Retirement Systems (Continued)
Police Pension Fund (Continued)
Investments (Continued)
The long-term expected rate of return on pension plan investments was determined using a building-block
method. The best estimate of future real rates of return are developed for each of the major asset
classes. Future real rates of return are weighted based on the target asset allocation as adopted by the
Board within the investment policy. Expected inflation is added back in. Adjustment is made to reflect
geometric returns. The following are the expected long-term expected arithmetic real rates of return by
asset class as of December 31, 2015:
Long-Term
Target Expected Real
Asset Class Asset Allocation Rate of Return
Cash and Cash equivalents 0.50%0.50%
US Fixed Income 45.00%2.10%
Large Cap 27.50%7.31%
Mid Cap 4.80%8.60%
Small Cap 5.10%9.41%
International Equities 11.70%7.56%
Equity Long/Short 3.80%4.70%
Infrastructure 1.60%5.90%
Total 100.00%
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.
Significant Investments
Information on significant investments is presented in Note 2 under “Concentration of Credit Risk.”
Rate of return:
For the year ended December 31, 2015, the annual money-weighted rate of return on pension plan
investments, net of pension plan investment expense, was 0.06 percent. The money-weighted rate of
return expresses investment performance, net of investment expense, adjusted for the changing amounts
actually invested.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
82
Note 10. Employee Retirement Systems (Continued)
Police Pension Fund (Continued)
Net Pension Liability of the Village
The components of the net pension liability of the Village at December 31, 2015, are as follows:
Total pension liability 92,318,605 $
Plan fiduciary net position 68,756,535
Village's net pension liability 23,562,070 $
Plan fiduciary net position as a percentage of the
total pension liability 74.48%
The total pension liability was determined by an actuarial valuation as of December 31, 2015, using the
following methods and actuarial assumptions, applied to all periods included in the measurement:
Methods and Assumptions
Valuation date December 31, 2015
Actuarial cost method Entry Age Normal
Amortization method Level Percentage of Payroll Closed
Discount Rate used for the Total Pension Liability 7.00%
Long-Term Expected Rate of Return on Plan Assets 7.00%
High Quality 20-Year Tax-Exempt G.O. Bond Rate
(based on the Bond Buyer 20-Bond GO Index)3.56%
Projected Individual Salary Increases 3.62 - 7.36%
Projected Increase in Total Payroll 0.00%
Inflation 2.50%
Mortality Table
Percent Married 85%
RP-2000 Combined Healthy Mortality with blue
collar adjustment, projected to valuation date
using Scale BB
The actuarial assumptions used in the December 31, 2015 valuation were based on the results of an
actuarial experience study performed by the State of Illinois Department of Insurance in 2012.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
83
Note 10. Employee Retirement Systems (Continued)
Police Pension Fund (Continued)
Net Pension Liability of the Village (Continued)
Discount rate:
The discount rate used to measure the total pension liability is 7.00 percent. The projection of cash flows
used to determine the discount rate assumed that plan member contributions will be made at the current
contribution rate and that Village contributions will be made at rates equal to the difference between
actuarially determined contribution rates and the member rate. Based on those assumptions, the Police
Pension Plan’s fiduciary net position was projected to be available to make all projected future benefit
payments of current plan members. Therefore, the long-term expected rate of return on pension plan
investments was applied to all periods of projected benefit payments to determine the total pension
liability.
Changes in the Village’s Net Pension Liability
Total Pension Plan Fiduciary Net Pension
Liability Net Position Liability
(a)(b)(a) - (b)
Balances at beginning of year measurement date 90,784,088 $ 64,203,613 $ 26,580,475 $
Changes for the year:
Service cost 2,025,748 2,025,748
Interest 6,368,405 6,368,405
Differences between expected and actual experience (4,142,795) (4,142,795)
Changes of assumptions 898,895 898,895
Contributions - employer - 7,494,545 (7,494,545)
Contributions - employee - 728,210 (728,210)
Contributions - Buy Back 49,495 49,495 -
Net investment income - (2,979) 2,979
Benefit payments, including refunds of
employee contributions (3,665,231) (3,665,231) -
Administrative expense - (51,118) 51,118
Other changes - -
Net changes 1,534,517 4,552,922 (3,018,405)
Balances at end of year measurement date 92,318,605 $ 68,756,535 $ 23,562,070 $
Increase (Decrease)
Sensitivity of the net pension liability to changes in the discount rate:
The following presents the net pension liability of the Village, calculated using the discount rate of 7.00
percent, as well as what the Villages net pension liability would be if it were calculated using a discount
rate that is 1-percentage-point lower or 1-percentage-point higher than the current rate.
1% Decrease
(6.00%)
Current Discount
Rate (7.00%)
1% Increase
(8.00%)
Village's net pension liability 36,626,080 $ 23,562,070 $ 12,856,228 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
84
Note 10. Employee Retirement Systems (Continued)
Police Pension Fund (Continued)
Pension Expense, Deferred Outflows of Resources, and Deferred Inflows of Resources Related to
Pensions:
For the year ended December 31, 2015, the Village recognized pension expense of $3,454,038. At
December 31, 2015, the Village reported deferred outflows or resources and deferred inflows of
resources related to pensions from the following sources:
Deferred Outflows Deferred Inflows
of Resources of Resources
Differences between expected and actual
experience -$ 3,452,330 $
Changes of assumptions 749,080 -
Net differences between projected and actual
earnings on pension plan investments 4,621,508 -
Total deferred amounts to be recognized in
pension expense in future periods 5,370,588 $ 3,452,330 $
Amounts reported as deferred outflows of resources and deferred inflows of resources related to
pensions will be recognized in pension expense in future periods as follows:
Year ended December 31:
2016 689,407 $
2017 689,407
2018 689,407
2019 390,688
2020 (540,651)
Thereafter -
1,918,258 $
The schedule of changes in total pension liability, net pension liability and related ratios and investment
returns and the schedule of contributions are presented as Required Supplementary Information (RSI)
following the notes to the financial statements.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
85
Note 10. Employee Retirement Systems (Continued)
Firefighters’ Pension Fund
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.
Administrative costs are financed through investment earnings.
Plan Description
Plan administration:
Sworn firefighter personnel are covered by the Firefighters' Pension Plan, which is a defined benefit
single-employer pension plan administered by the Village of Glenview. Although this is a single-employer
pension plan, the defined benefits and employee and employer contribution levels are governed by Article
4 of the Illinois Pension Code and may be amended only by the Illinois legislature. The Village accounts
for the plan as a pension trust fund. The Village's most recent actuarial valuation was performed as of
December 31, 2015, and, accordingly, the most recent available information has been presented.
Management of the Firefighters’ Pension Plan is vested in the Firefighters’ Pension Board which consists
of five members, two members are elected from and by active firefighters, one elected from and by the
beneficiaries and two appointed by the Village President. There have been no changes in the makeup of
the Board during fiscal year 2015.
Plan Membership:
At December 31, 2015, the Firefighters’ Pension Plan membership consisted of:
Membership
Retirees or beneficiaries currently receiving benefits 86
Inactive Plan members entitled to but not yet receiving benefits 2
Active Plan members 80
Total membership 168
Benefits provided:
The Illinois Pension Code (40 ILCS 5/Art. 4) is the authority under which pension benefit terms are
established. The Firefighters' Pension Plan provides retirement benefits as well as death and disability
benefits. Covered employees hired before January 1, 2011 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.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
86
Note 10. Employee Retirement Systems (Continued)
Firefighters’ Pension Fund (Continued)
Plan Description (Continued)
Covered employees hired on or after January 1, 2011 attaining the age of 55 or more with 10 or more
years of creditable service are entitled to receive an annual retirement benefit of 2.5% of final average
salary for each year of service, with a maximum salary cap of $106,800 as of January 1, 2011. The
maximum salary cap increases each year thereafter. The monthly benefit of a police officer hired before
January 1, 2011, 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% compounded annually thereafter. The monthly pension of
a police officer hired on or after January 1, 2011, shall be increased annually, following the later of the
first anniversary date of retirement or the month following the attainment of age 60, but the lessor of 3%
or one half of the consumer price index. Employees with at least 10 years but less than 20 years of
credited service may retire at or after age 60 and receive a reduced benefit.
Contributions:
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 Illinois Pension Code (40 ILCS 5/Art. 4)
establishes the contribution requirements of the Village. The annual requirement is equal to (1) the
normal cost of the pension fund or 7.5% of the salaries and wages to be paid to firefighters for the year
involved, whichever is greater, plus (2) an annual amount sufficient to bring the total assets of the pension
fund up to 90% of the total actuarial liabilities of the pension fund by December 31, 2040. Only the State
legislature can amend the contribution requirements. For the year ended December 31, 2015, the
statutory minimum which the Village was required to contribute was $2,692,956, or 33.67% of member
payroll, to the Firefighters’ Pension Fund.
Investments
Investment policy:
The pension plan’s policy in regard to the allocation of invested assets is established and may be
amended by the Firefighters’ Pension Board by a majority vote of its members. It is the policy of the
Firefighters’ Pension Board to pursue an investment strategy that minimizes risk through the prudent
diversification of the portfolio across a broad selection of distinct asset classes. The pension plan’s
investment policy discourages the use of cash equivalents, except for liquidity purposes, and aims to
refrain from dramatically shifting asset class allocations over short time spans. See Note 2 for more
details on the Firefighters’ Pension’s investment policy.
The long-term expected rate of return on pension plan investments was determined using a building-block
method. The best estimate of future real rates of return are developed for each of the major asset
classes. Future real rates of return are weighted based on the target asset allocation as adopted by the
Board within the investment policy. Expected inflation is added back in. Adjustment is made to reflect
geometric returns. The following are the expected long-term expected arithmetic real rates of return by
asset class as of December 31, 2015:
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
87
Note 10. Employee Retirement Systems (Continued)
Firefighters’ Pension Fund (Continued)
Investments (Continued)
Target Long-Term Long-Term Long-Term
Asset Allocation Expected Rate Inflation Expected Real
Asset Class in Asset Class of Return Expectations Rate of Return
Fixed Income 45.00%5.30%3.08%2.22%
US Large-Cap Equities 38.50%10.10%3.08%7.02%
US Small-Cap Equities 11.00%12.20%3.08%9.12%
International Equities 5.50%10.30%3.08%7.22%
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.
Significant Investments
Information on significant investments is presented in Note 2 under “Concentration of Credit Risk.”
Rate of return:
For the year ended December 31, 2015, the annual money-weighted rate of return on pension plan
investments, net of pension plan investment expense, was 1.19 percent. The money-weighted rate of
return expresses investment performance, net of investment expense, adjusted for the changing amounts
actually invested.
The components of the net pension liability of the Village at December 31, 2015, are as follows:
Total pension liability 113,224,508 $
Plan fiduciary net position 71,792,553
Village's net pension liability 41,431,955 $
Plan fiduciary net position as a percentage of the
total pension liability 63.41%
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
88
Note 10. Employee Retirement Systems (Continued)
Firefighters’ Pension Fund (Continued)
Net Pension Liability of the Village (Continued)
The total pension liability was determined by an actuarial valuation as of December 31, 2015, using the
following methods and actuarial assumptions, applied to all periods included in the measurement:
Methods and Assumptions
Valuation date December 31, 2015
Actuarial cost method Entry Age Normal
Amortization method Level Percentage of Payroll Closed
Discount Rate used for the Total Pension Liability 7.25%
Long-Term Expected Rate of Return on Plan Assets 7.25%
High Quality 20-Year Tax-Exempt G.O. Bond Rate
(based on the Bond Buyer 20-Bond GO Index)3.57%
Projected Individual Salary Increases 4.25 - 7.50%
Projected Increase in Total Payroll 3.50%
Consumer Price Index (Utilities)2.50%
Inflation Rate Included 2.50%
Mortality Table Lauterbach & Amen (L&A) 2016 Illinois Firefighters'
Retirement Rates L&A 2016 Illinois Firefighters' Capped at age 62
Disability Rates L&A 2012 Illinois Firefighters' 90%
Termination Rates L&A 2012 Illinois Firefighters' 80%
Percent Married 85%
The actuarial assumptions used in the December 31, 2015 valuation were based on the results of an
actuarial assumption study for the period including various municipal fiscal years ending 2006 – 2011.
The study was performed by Lauterbach and Amen LLP (L&A), which provides a variety of accounting
and actuarial services to Police and Firefighter Pension Funds across the State of Illinois.
Discount rate:
The discount rate used to measure the total pension liability is 7.00 percent. The projection of cash flows
used to determine the discount rate assumed that plan member contributions will be made at the current
contribution rate and that Village contributions will be made at rates equal to the difference between
actuarially determined contribution rates and the member rate. Based on those assumptions, the Police
Pension Plan’s fiduciary net position was projected to be available to make all projected future benefit
payments of current plan members. Therefore, the long-term expected rate of return on pension plan
investments was applied to all periods of projected benefit payments to determine the total pension
liability.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
89
Note 10. Employee Retirement Systems (Continued)
Firefighters’ Pension Fund (Continued)
Net Pension Liability of the Village (Continued)
Changes in the Village’s Net Pension Liability
Total Pension Plan Fiduciary Net Pension
Liability Net Position Liability
(a)(b)(a) - (b)
Balances at beginning of year measurement date 104,280,202 $ 65,326,017 $ 38,954,185 $
Changes for the year:
Service cost 1,761,875 - 1,761,875
Interest 7,367,177 - 7,367,177
Differences between expected and actual experience 2,444,216 - 2,444,216
Changes of assumptions 2,698,985 - 2,698,985
Contributions - employer - 10,309,348 (10,309,348)
Contributions - employee - 750,195 (750,195)
Net investment income - 817,749 (817,749)
Benefit payments, including refunds of
employee contributions (5,327,947) (5,327,947) -
Administrative expense - (82,809) 82,809
Net changes 8,944,306 6,466,536 2,477,770
Balances at end of year measurement date 113,224,508 $ 71,792,553 $ 41,431,955 $
Increase (Decrease)
Sensitivity of the net pension liability to changes in the discount rate:
The following presents the net pension liability of the Village, calculated using the discount rate of 7.25
percent, as well as what the Villages net pension liability would be if it were calculated using a discount
rate that is 1-percentage-point lower or 1-percentage-point higher than the current rate.
1% Decrease
(6.25%)
Current Discount
Rate (7.25%)
1% Increase
(8.25%)
Village's net pension liability 56,577,661 $ 41,431,955 $ 28,913,427 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
90
Note 10. Employee Retirement Systems (Continued)
Firefighters’ Pension Fund (Continued)
Pension Expense, Deferred Outflows of Resources, and Deferred Inflows of Resources Related to
Pensions:
For the year ended December 31, 2015, the Village recognized pension expense of $5,135,454. At
December 31, 2015, the Village reported deferred outflows or resources and deferred inflows of
resources related to pensions from the following sources:
Deferred Outflows Deferred Inflows
of Resources of Resources
Differences between expected and actual
experience 2,087,395 $ -$
Changes of assumptions 2,304,973 -
Net differences between projected and actual
earnings on pension plan investments 3,346,099 -
Total deferred amounts to be recognized in
pension expense in future periods 7,738,467 $ -$
Amounts reported as deferred outflows of resources and deferred inflows of resources related to
pensions will be recognized in pension expense in future periods as follows:
Year ended December 31:
2016 1,594,591 $
2017 1,594,591
2018 1,594,591
2019 1,565,656
2020 750,832
Thereafter 638,206
7,738,467 $
The schedule of changes in net pension liability, total pension liability and related ratios and investment
returns and the schedule of contributions are presented as Required Supplementary Information (RSI)
following the notes to the financial statements.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
91
Note 11. 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, 2015, membership in the Plan consisted of the following:
Membership
Retirees and beneficiaries receiving benefits 108
Active Participants 288
Total membership 396
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, 2015
92
Note 11. 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, 2015. 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, 2015.
Annual required contribution 771,549 $
Interest on net OPEB obligation 103,213
Adjustment to annual required contribution (134,747)
Annual OPEB cost 740,015
Contributions made 398,137
Increase in net OPEB Obligation 341,878
Net OPEB obligation at January 1, 2015 2,293,641
Net OPEB obligation at December 31, 2015 2,635,519 $
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 2015 is as follows:
Fiscal Annual Percentage Net
Year OPEB of OPEB OPEB
Ending Cost Contributed Obligation
12/31/15 740,015 $ 53.80 %2,635,519
12/31/14 977,226 40.74 2,293,641
12/31/13 949,225 41.00 1,714,494
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, 2015
93
Note 11. 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:
Actuarial valuation date
December 31, 2015
Actuarial cost method
Entry Age Normal
Amortization method
Level dollar, open
Amortization period
30 years
Asset valuation method
Market
Actuarial assumptions:
Investment rate of return*
Projected salary increases
Healthcare inflation rate
4.50%
3.50%
8.50% initial
4.50% ultimate
Assumed Mortality
RP – 2000 Mortality Table Blue Collar table
projected to 2015 using scale AA for Police
and Fire. For all others the RP 2014 base
rates projected to 2015 using scape MP 2015
was used.
Percentage of active employees
Assumed to elect benefit
75%
Employer provided benefit
Explicit (eligible disabled pensioners): 100% of
premium for life
Implicit: Age adjust at every age
*Includes inflation at 2.50%
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
94
Note 11. Other Postemployment Benefits (OPEB) (Continued)
Funding Status and Funding Progress
The funded status of the plan as of December 31, 2015, the date of the latest valuation, was as follows:
Actuarial Accrued Liability (AAL)
$ 8,204,677
Actuarial Value of Plan Assets
$ -
Unfunded Actuarial Accrued Liability (UAAL)
$ 8,204,677
Funded ratio (actuarial value of plan assets/AAL)
0.00%
Covered payroll (active plan members)
$ 24,702,850
UAAL as a percentage of covered payroll 33.2%
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 12. Pension Trust Funds – Financial Data
Schedule of Fiduciary Plan Net Position as of December 31, 2015
Total
Police Firefighters' Pension
Pension Pension Trust
Fund Fund Funds
Assets
Cash and cash equivalents 1,736,202 $ 916,103 $ 2,652,305 $
Investments
U.S. government and agency obligations 18,845,417 24,155,159 43,000,576
Municipal obligations 366,982 4,871,327 5,238,309
Corporate obligations 10,724,801 - 10,724,801
Equity mutual funds 36,926,382 41,687,528 78,613,910
Accrued interest receivable 152,496 185,940 338,436
Due from other funds 9,192 12,925 22,117
Prepaid expenses 6,103 4,472 10,575
Total assets 68,767,575 71,833,454 140,601,029
Liabilities
Accrued expenses 11,040 40,901 51,941
Net Position
Restricted for pensions 68,756,535 $ 71,792,553 $ 140,549,088 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
95
Note 12. Pension Trust Funds – Financial Data (Continued)
Schedule of Changes in Fiduciary Plan Net Position as of December 31, 2015
Total
Police Firefighters' Pension
Pension Pension Trust
Fund Fund Funds
Additions
Contributions
Employer 7,494,545 $ 10,309,348 $ 17,803,893 $
Participant 777,705 750,195 1,527,900
Total contributions 8,272,250 11,059,543 19,331,793
Investment income
Net depreciation in fair value
of investments (2,648,641) (1,717,287) (4,365,928)
Interest income 2,713,029 2,662,007 5,375,036
Less investment expense (67,367) (126,971) (194,338)
Net investment income (2,979) 817,749 814,770
Total additions 8,269,271 11,877,292 20,146,563
Deductions
Administrative expenses 51,118 82,809 133,927
Retirement pensions 3,194,414 4,535,297 7,729,711
Widow pensions 297,558 332,160 629,718
Disability pensions 171,916 460,490 632,406
Contribution refunds 1,343 - 1,343
Total deductions 3,716,349 5,410,756 9,127,105
Change in net position 4,552,922 6,466,536 11,019,458
Net position restricted for pensions
Beginning 64,203,613 65,326,017 129,529,630
Ending 68,756,535 $ 71,792,553 $ 140,549,088 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
96
Note 13. Fund Balance Reporting
As of December 31, 2015, the Village’s fund balances were classified as follows:
General Fund
Special Tax
Allocation Fund
Village
Permanent Fund
Capital
Projects Fund
Nonmajor
Governmental
Funds Totals
Nonspendable:
Prepaids -$ 30,851 $ -$ -$ -$ 30,851 $
Land held for resale 287,500 - - - - 287,500
Inventory 212,300 - - - - 212,300
Total Nonspendable 499,800 30,851 - - - 530,651
Restricted purpose:
Public Safety - - - - 264,020 264,020
Street Improvements - - - - 1,193,343 1,193,343
Economic Development - - - - 737,124 737,124
Total Restricted - - - - 2,194,487 2,194,487
Assigned purpose:
Debt Service - - - - 319,317 319,317
Capital Projects - - 27,869,210 291,965 5,675,391 33,836,566
Total Assigned - - 27,869,210 291,965 5,994,708 34,155,883
Total Unassigned 25,739,072 (11,572,271) - - - 14,166,801
Total Fund Balances 26,238,872 $ (11,541,420) $ 27,869,210 $ 291,965 $ 8,189,195 $ 51,047,822 $
Note 14. Deficit Fund Balance
The Special Tax Allocation Fund (TIF) has a deficit fund balance of $11,541,420 as of the date of this
report. This deficit balance was anticipated as the existing advances in the fund will be paid off towards
the end of the life of the TIF as increments from the TIF increase.
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, 2015
97
Note 16. New Accounting Pronouncements
GASB Statement No. 72, Fair Value Measurement and Application, will be effective for the Village
beginning with its year ended December 31, 2016. This statement addresses accounting and financial
reporting issues related to fair value measurements. The definition of fair value is the price that would be
received to sell an asset or paid to transfer a liability in an orderly transaction between market participants
at the measurement date. This statement provides guidance for determining a fair value measurement
for financial reporting purposes. This statement also provides guidance for applying fair value to certain
investments and disclosures related to all fair value measurements.
GASB Statement No. 73, Accounting and Financial Reporting for Pensions and Related Assets That are
Not within the Scope of GASB 68 and Amendments to Certain Provisions of GASB 67 and 68. The
objective of this Statement is to improve the usefulness of information about pensions included in the
general purpose external financial reports of state and local governments for making decisions and
assessing accountability. The Village does not fall within the scope of Statement 73, therefore no
material impact is expected on the financial statements.
GASB Statement No. 74, Financial Reporting for Postemployment Benefit Plans Other Than Pension
Plans. The objective of this statement is to improve the usefulness of information about postemployment
benefits other than pensions (other postemployment benefits (OPEB)) included in the general purpose
external financial reports of state and local government OPEB plans for making decisions and assessing
accountability. This Village has not yet determined the impact of this Statement. It is required to be
adopted with the December 31, 2017 financial statements.
GASB Statement No. 75, Accounting and Financial Reporting for Postemployment Benefit Other Than
Pension Plans. The primary objective of this Statement is to improve accounting and financial reporting
by state and local governments for postemployment benefits other than pensions (other postemployment
benefits (OPEB)). It also improves information provided by state and local governmental employers
about financial support for OPEB that is provided by other entities. The Village has not yet determined
the impact of this Statement. It is required to be adopted with the December 31, 2018 financial
statements.
GASB Statement No. 76, The Hierarchy of Generally Accepted Accounting Principles for State and Local
Governments. The objective of this Statement is to identify – in the context of the current governmental
financial reporting environment – the hierarchy of generally accepted accounting principles (GAAP). The
“GAAP Hierarchy” consists of the sources of accounting principles used to prepare financial statements of
state and local governmental entities in conformity with GAAP and the framework for selecting those
principles. This Statement reduces the GAAP Hierarchy to two categories of authoritative GAAP and
addresses the use of authoritative and non-authoritative literature in the event that the accounting
treatment for a transaction or other event is not specified within a source of authoritative GAAP. The
Village will adopt this Statement for its December 31, 2016 financial statements.
GASB issued Statement No. 77, Tax Abatement Disclosures. Financial statements prepared by state and
local governments in conformity with generally accepted accounting principles provide citizens and
taxpayers, legislative and oversight bodies, municipal bond analysts, and others with information they
need to evaluate the financial health of governments, make decisions, and assess accountability. This
information is intended, among other things, to assist these users of financial statements in assessing (1)
whether a government’s current-year revenues were sufficient to pay for current-year services (known as
interperiod equity), (2) whether a government complied with finance-related legal and contractual
obligations, (3) where a government’s financial resources come from and how it uses them, and (4) a
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
98
Note 16. New Accounting Pronouncements (Continued)
government’s financial position and economic condition and how they have changed over time. The
Village has not yet determined the impact of this Statement. The Village will adopt this Statement for its
December 31, 2016 financial statements.
GASB issued Statement No. 78, Pensions Provided through Certain Multiple Employer Defined Benefit
Pension Plans. The objective of this Statement is to address a practice issue regarding the scope and
applicability of Statement No. 68, Accounting and Financial Reporting for Pensions. This issue is
associated with pensions provided through certain multiple-employer defined benefit pension plans and to
state or local governmental employers whose employees are provided with such pensions. The Village
does not fall within the scope of Statement 78, therefore no material impact is expected on the financial
statements.
GASB issued Statement No. 79, Certain External Investment Pools and Pool Participants. This Statement
addresses accounting and financial reporting for certain external investment pools and pool participants.
Specifically, it establishes criteria for an external investment pool to qualify for making the election to
measure all of its investments at amortized cost for financial reporting purposes. The Village has not yet
determined the impact of this Statement. The Village will adopt this Statement for its December 31, 2016
financial statements.
GASB issued Statement No. 80, Blending Requirements for Certain Component Units. The objective of
this Statement is to improve financial reporting by clarifying the financial statement presentation
requirements for certain component units. The Village has not yet determined the impact of this
Statement. The Village will adopt this Statement for its December 31, 2016 financial statements.
GASB issued Statement No. 81, Irrevocable Split-Interest Agreements. The objective of this Statement is
to improve accounting and financial reporting for irrevocable split-interest agreements by providing
recognition and measurement guidance for situations in which a government is a beneficiary of the
agreement. The Village has not yet determined the impact of this Statement. The Village will adopt this
Statement for its December 31, 2016 financial statements.
GASB issued Statement No. 82, Pension Issues. The objective of this Statement is to address certain
issues that have been raised with respect to Statements No. 67, Financial Reporting for Pension Plans,
No. 68, Accounting and Financial Reporting for Pensions, and No. 73, Accounting and Financial
Reporting for Pensions and Related Assets That Are Not within the Scope of GASB Statement 68, and
Amendments to Certain Provisions of GASB Statements 67 and 68. Specifically, this Statement
addresses issues regarding (1) the presentation of payroll-related measures in required supplementary
information, (2) the selection of assumptions and the treatment of deviations from the guidance in an
Actuarial Standard of Practice for financial reporting purposes, and (3) the classification of payments
made by employers to satisfy employee (plan member) contribution requirements. The Village has not yet
determined the impact of this Statement. The Village will adopt this Statement for its December 31, 2016
financial statements.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
99
Note 17. Capital Leases
Lease Receivable
The Village of Glenview owns a parcel of land valued at $1,560,000 which 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. The lease commenced on November 1, 2013 and qualifies as a capital lease.
Therefore the Village recorded a $1,222,000 lease receivable as of fiscal year-end and recognizes the
activity as follows:
Year Ending
December 31,Payments Principal Interest
2016 156,000 $ 122,797 $ 33,203 $
2017 156,000 126,848 29,152
2018 156,000 131,033 24,967
2019 156,000 135,355 20,645
2020 156,000 139,821 16,179
2021-2023 442,000 421,715 20,285
Totals 1,222,000 $ 1,077,569 $ 144,431 $
Future Minimum Lease Payments
Lease Payable
The Village of Glenview entered into a lease agreement as lessee for financing public safety equipment.
The lease is due in installments through its maturity on October 1, 2018 at an annual rate of 1.48 percent.
The lease agreement qualifies as a capital lease for accounting purposes and, therefore, has been
recorded at the present value of the future minimum lease payments as of the inception date. The assets
acquired through the capital lease have been added to equipment at the cost of $981,451 and are subject
to depreciation in accordance with the capital asset policy. The net present value of the minimum lease
payments as of December 31, 2015 is $730,833 and the future minimum lease obligations are as follows:
Year Ending
December 31,Payments Principal Interest
2016 250,857 $ 240,041 $ 10,816 $
2017 250,857 243,593 7,264
2018 250,857 247,199 3,658
Totals 752,571 $ 730,833 $ 21,738 $
Future Obligations
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2015
100
Note 18. Restatement for Implementation of New Accounting Standard
The Village’s net position has been restated as of December 31, 2014. The restatement is a result of
Governmental Accounting Standards Board (GASB) Statement No. 68, Accounting and Financial
Reporting for Pensions – an amendment of GASB Statement No. 27 and GASB Statement No. 71,
Pension Transition for Contributions Made Subsequent to the Measurement Date – an amendment of
GASB Statement No. 68. The restatement is to record the effect of the net pension liability, deferred
inflows of resources and deferred outflows of resources. The effect of the restatement on December 31,
2014 is shown below:
Governmental
Activities
Business-Type
Activities Water Fund Sewer Fund
Glenview
Library
Net Position, December 31, 2014, as
previously reported 210,837,871 $ 70,084,841 $ 38,510,290 $ 18,738,223 $ 13,587,125 $
Implementation of GASB Statement No. 68 and 71:
Beginning deferred outflows of resources
pension contributions subsequent to the
measurement date 1,383,087 330,933 271,347 59,586 450,728
Beginning net pension liability (68,812,213) (809,587) (667,447) (142,140) (1,133,499)
Beginning deferred outflows of resources 1,310,612 - - - -
Write-off the net pension asset (4,235,085) - - - -
Net Position, December 31, 2014 as restated 140,484,272 $ 69,606,187 $ 38,114,190 $ 18,655,669 $ 12,904,354 $
The restatement of the beginning net position adjusts the beginning deferred outflow of resources for
pension contributions made subsequent to the measurement date of the beginning net pension liability.
Restatement of the beginning balances for deferred outflows of resources related to pensions was not
done because it was not practical to determine all such amounts.
Note 19. Subsequent Events
The Village reports land held for resale totaling $287,500 that was obtained during fiscal year 2015
through a court ordered judgment. On April 20, 2016, the Village sold the land held for resale (3825
Chester Drive) for a purchase price of $287,500.
REQUIRED SUPPLEMENTARY INFORMATION
(Unaudited)
101
Village of Glenview, Illinois
Required Supplementary Information – GASB Statement No. 45
Schedule of Funding Progress
Last Six Fiscal Years
Unfunded
Actuarial (assets in
Actuarial Accrued excess of)Percentage
Actuarial Value of Liability (AAL)AAL Funded Covered of Covered
Valuation Assets Entry Age (UAAL)Ratio Payroll Payroll
Date (a)(b)(b-a) (a/b)(c) ((b-a)/c)
Other Postemployment Benefit Plan:
2015 -$ 8,204,677 $ 8,204,677 $ - %24,702,850 $ 33.21 %
2014 - 10,130,708 10,130,708 -25,641,149 39.51
2013 - 10,130,708 10,130,708 - 25,641,149 39.51
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
102
Village of Glenview, Illinois
Required Supplementary Information - Illinois Municipal Retirement Fund (IMRF)
Schedule of Changes in Net Pension Liability, Total Pension Liability and Related
Ratios
Fiscal years ending December 31,2014
Total pension liability
Service cost 1,820,396 $
Interest on the total pension liability 6,687,409
Changes in benefit terms -
Differences between expected and actual experience 1,332,409
Changes in assumptions 3,276,901
Benefit payments (4,167,199)
Net change in total pension liability 8,949,916
Total pension liability—beginning 90,338,854
Total pension liability—ending (a)99,288,770 $
Plan fiduciary net position
Contributions - Employer 2,164,748 $
Contributions - Member 730,940
Pension plan net investment income 5,153,430
Benefit payments (4,167,199)
Pension plan administrative expense 229,348
Net change in plan fiduciary net position 4,111,267
Plan fiduciary net position—beginning 85,118,217
Plan fiduciary net position—ending (b)89,229,484 $
Net pension liability - ending (a) - (b)10,059,286 $
Plan fiduciary net position as a percentage of the
total pension liability 89.87%
Covered-Employee Payroll 16,154,258 $
Employer net pension liability as a percentage of
covered-employee payroll 62.27%
Note to Schedule:
The Village implemented GASB 68 in FY 2015. Information is not available prior to 2014. Additional
years will be added to future reports as schedules are required to show 10 years of historical data.
103
Village of Glenview, Illinois
Required Supplementary Information - Police Pension Plan
Schedule of Changes in Net Pension Liability, Total Pension Liability and Related
Ratios and Investment Returns
Fiscal years ending December 31,2015 2014
Total pension liability
Service cost 2,025,748 $ 1,674,658 $
Interest on the total pension liability 6,368,405 5,490,500
Changes in benefit terms - -
Differences between expected and actual experience (4,142,795) -
Changes in assumptions 898,895 -
Contributions - Buy Back 49,495 -
Benefit payments (3,665,231) (3,274,551)
Net change in total pension liability 1,534,517 3,890,607
Total pension liability—beginning 90,784,088 86,893,481
Total pension liability—ending (a)92,318,605 $ 90,784,088 $
Plan fiduciary net position
Contributions - Employer 7,494,545 $ 1,953,494 $
Contributions - Member 728,210 686,942
Contributions - Buy Back 49,495 -
Pension plan net investment income (2,979) 2,799,434
Benefit payments (3,665,231) (3,274,551)
Pension plan administrative expense (51,118) (45,490)
Net change in plan fiduciary net position 4,552,922 2,119,829
Plan fiduciary net position—beginning 64,203,613 62,083,784
Plan fiduciary net position—ending (b)68,756,535 $ 64,203,613 $
Net pension liability - ending (a) - (b)23,562,070 $ 26,580,475 $
Plan fiduciary net position as a percentage of the
total pension liability 74.48% 70.72%
Covered-Employee Payroll 6,985,724 $ 7,055,218 $
Employer net pension liability as a percentage of
covered-employee payroll 337.29% 376.75%
Annual money-weighted rate of return, net of
investment expense 0.06%4.58%
Note to Schedule:
The Village implemented GASB 67 in FY 2014 and GASB 68 in FY 2015. Information is not available prior to 2014.
Additional years will be added to future reports as schedules are required to show 10 years of historical data.
104
Village of Glenview, Illinois
Required Supplementary Information - Firefighters' Pension Plan
Schedule of Changes in Net Pension Liability, Total Pension Liability and Related
Ratios and Investment Returns
Fiscal years ending December 31,2015 2014
Total pension liability
Service cost 1,761,875 $ 1,977,800 $
Interest on the total pension liability 7,367,177 7,079,887
Changes in benefit terms - -
Differences between expected and actual experience 2,444,216 -
Changes in assumptions 2,698,985 -
Benefit payments (5,327,947) (4,862,207)
Net change in total pension liability 8,944,306 4,195,480
Total pension liability—beginning 104,280,202 100,084,722
Total pension liability—ending (a)113,224,508 $ 104,280,202 $
Plan fiduciary net position
Contributions - Employer 10,309,348 $ 3,134,768 $
Contributions - Member 750,195 751,554
Pension plan net investment income 817,749 4,274,117
Benefit payments (5,327,947) (4,862,207)
Pension plan administrative expense (82,809) (44,601)
Net change in plan fiduciary net position 6,466,536 3,253,631
Plan fiduciary net position—beginning 65,326,017 62,072,386
Plan fiduciary net position—ending (b)71,792,553 $ 65,326,017 $
Net pension liability - ending (a) - (b)41,431,955 $ 38,954,185 $
Plan fiduciary net position as a percentage of the
total pension liability 63.41% 62.64%
Covered-Employee Payroll 7,926,515 $ 7,058,973 $
Employer net pension liability as a percentage of
covered-employee payroll 522.70% 551.84%
Annual money-weighted rate of return, net of
investment expense 1.19%6.95%
Note to Schedule:
The Village implemented GASB 67 in FY 2014 and GASB 68 in FY 2015. Information is not available prior to 2014.
Additional years will be added to future reports as schedules are required to show 10 years of historical data.
105
Village of Glenview, Illinois
Required Supplementary Information
Schedule of Contributions
Illinois Municipal Retirement Fund (IMRF)2014
Actuarially Determined Contribution 2,154,978 $
Contributions in Relation to the Actuarial
Determined Contribution 2,164,748
Contribution Deficiency (excess)(9,770) $
Covered-Employee Payroll 16,154,258 $
Contributions as a Percentage of
Covered-Employee Payroll 13.40%
Note to Schedule:
The Village implemented GASB 68 in FY 2015. Information is not available prior to 2014. Additional
years will be added to future reports as schedules are required to show 10 years of historical data.
106
Village of Glenview, Illinois
Required Supplementary Information
Schedule of Contributions
Police Pension Plan 2015 2014 2013 2012
Actuarially Determined Contribution 1,957,880 $ 1,921,637 $ 1,812,556 $ 1,569,531 $
Contributions in Relation to the Actuarial
Determined Contribution 7,494,545 1,953,494 1,632,373 1,812,692
Contribution Deficiency (excess)(5,536,665) $ (31,857) $ 180,183 $ (243,161) $
Covered-Employee Payroll 6,985,724 $ 7,055,218 $ 6,359,627 $ 6,136,593 $
Contributions as a Percentage of
Covered-Employee Payroll 107.28% 27.69% 25.67% 29.54%
Firefighters' Pension Plan 2015 2014 2013 2012
Actuarially Determined Contribution 3,739,508 $ 2,733,414 $ 2,985,212 $ 2,420,075 $
Contribtuions in Relation to the Actuarial
Determined Contribution 10,309,348 3,134,768 3,116,164 2,926,010
Contribution Deficiency (excess)(6,569,840) $ (401,354) $ (130,952) $ (505,935) $
Covered-Employee Payroll 7,926,515 $ 7,058,973 $ 6,737,119 $ 6,439,694 $
Contributions as a Percentage of
Covered-Employee Payroll 130.06% 44.41% 46.25% 45.44%
107
2011 2010 2009 2008 2007 2006
1,347,587 $ 1,370,885 $ 933,477 $ 1,151,490 $ 1,081,786 $ 918,552 $
1,767,986 1,802,629 1,168,933 1,393,628 1,157,437 930,687
(420,399) $ (431,744) $ (235,456) $ (242,138) $ (75,651) $ (12,135) $
6,091,656 $ 5,855,973 $ 5,847,732 $ 6,112,516 $ 5,684,695 $ 5,677,276 $
29.02% 30.78% 19.99% 22.80% 20.36% 16.39%
2011 2010 2009 2008 2007 2006
2,160,105 $ 1,941,060 $ 1,987,548 $ 1,712,540 $ 1,556,654 $ 899,549 $
2,806,961 2,541,870 1,985,871 1,805,026 1,416,463 1,081,738
(646,856) $ (600,810) $ 1,677 $ (92,486) $ 140,191 $ (182,189) $
6,926,020 $ 6,621,473 $ 6,519,762 $ 6,109,904 $ 5,893,686 $ 5,082,045 $
40.53% 38.39% 30.46% 29.54% 24.03% 21.29%
108
Village of Glenview, Illinois
General Fund
For the Year Ended December 31, 2015
Original Final Actual Variance
Revenues
Taxes
Property 10,966,469 $ 10,966,469 $ 11,084,181 $ 117,712 $
Other 14,780,590 14,780,590 14,460,977 (319,613)
Licenses and permits 2,359,365 2,359,365 3,208,298 848,933
Charges for services 9,807,033 9,807,033 11,759,058 1,952,025
Fines and forfeitures 145,570 145,570 164,673 19,103
Intergovernmental 26,046,196 26,046,196 25,793,250 (252,946)
Investment income 72,510 72,510 71,411 (1,099)
Other revenues - - 7,055 7,055
Total revenues 64,177,733 64,177,733 66,548,903 2,371,170
Expenditures
General government 16,352,448 16,144,134 17,294,427 (1,150,293)
Public works 9,254,546 9,407,532 9,260,772 146,760
Public safety 27,757,382 28,315,720 28,324,828 (9,108)
Development 3,591,397 3,788,296 3,900,326 (112,030)
Capital outlay 892,338 1,141,014 2,066,831 (925,817)
Total expenditures 57,848,111 58,796,696 60,847,184 (2,050,488)
Excess of revenues
over expenditures 6,329,622 5,381,037 5,701,719 320,682
Other financing sources (uses)
Proceeds from capital lease - - 981,451 981,451
Transfers in 865,760 865,760 2,833,319 1,967,559
Transfers out (13,595,382) (13,607,858) (13,974,479) (366,621)
Total other financing
sources (uses)(12,729,622) (12,742,098) (10,159,709) 2,582,389
Net change in fund balance (6,400,000) $ (7,361,061) $ (4,457,990) 2,903,071 $
Fund balance – beginning of year 30,696,862
Fund balance – end of year 26,238,872 $
Required Supplementary Information
Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual
Budget
109
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, 2015
Original Final Actual Variance
Revenues
Taxes
Property 30,852,192 $ 30,852,192 $ 30,479,916 $ (372,276) $
Charges for services 24,945 24,945 24,945 -
Intergovernmental - - 41,356 41,356
Investment income 19,000 19,000 130,933 111,933
Total revenues 30,896,137 30,896,137 30,677,150 (218,987)
Expenditures
General government 22,155,502 22,155,502 20,874,482 1,281,020
Debt service
Bond issuance costs - - 20,250 (20,250)
Principal 6,476,414 6,476,414 16,510,938 (10,034,524)
Interest and fiscal charges 1,461,100 1,461,100 1,389,472 71,628
Total expenditures 30,093,016 30,093,016 38,795,142 (8,702,126)
Deficiency of revenues
over expenditures 803,121 803,121 (8,117,992) (8,921,113)
Other financing sources (uses)
Issuance of debt - - 10,000,000 10,000,000
(294,178) (294,178) (294,178) -
Total other financing sources (uses) (294,178) (294,178) 9,705,822 10,000,000
Net change in fund balance 508,943 $ 508,943 $ 1,587,830 1,078,887 $
Fund balance – beginning of year (13,129,250)
Fund balance – end of year (11,541,420) $
Required Supplementary Information
Transfers out
Budget
Village of Glenview, Illinois
Required Supplementary Information (Unaudited)
Notes to Required Supplementary Information
December 31, 2015
110
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 9, 2014 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 are adopted 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:
Fund Excess
Special Tax Allocation Fund 8,702,126 $
Police Pension Fund 273,569
Fire Pension Fund 336,674
Corporate Fund 2,050,488
Foreign Fire Insurance Fund 6,522
Capital Projects Fund 9,867,652
Water Fund 630,900
Village of Glenview, Illinois
Required Supplementary Information (Unaudited)
Notes to Required Supplementary Information
December 31, 2015
111
Note 2. Pension Contributions
The Schedule of Contributions shows the difference between the actual contributions and the actuarially
determined contributions (ADC). The actuarial valuation and assumptions utilized to measure the ADC
differ from those disclosed within Note 10 of the Financial Statements and reflects the Village’s informal
funding policy, which results in a contribution greater than the State’s statutory minimum contribution.
The following methods and assumptions were utilized to measure the ADC for each applicable pension
plan.
Police Pension Plan:
Methods and Assumptions
Valuation Date January 1, 2014
Actuarial cost method Entry Age Normal
Actuarial Value of Assets 5 Year Smoothed Market Value
Amortization method Level Percentage of Payroll Closed
Remaining Amortization Period 26 Years
Investment rate of return 7.00%
Projected Individual Salary Increases 1.12% to 4.86% varying by age net of inflation
Projected Increase in Total Payroll None, Level Dollar Amortization
Consumer Price Index (Utilities)2.50%
Inflation Rate Included 2.50%
Mortality Table 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
Fire Pension Plan:
Methods and Assumptions
Valuation Date January 1, 2014
Actuarial cost method Entry Age Normal
Actuarial Value of Assets 5 Year Smoothed Market Value
Amortization method Level Percentage of Payroll Closed
Remaining Amortization Period 26 Years
Investment rate of return 7.25%
Projected Individual Salary Increases 4.25% to 10.00% varying by age net of inflation
Projected Increase in Total Payroll 4.50%
Consumer Price Index (Utilities)3.00%
Inflation Rate Included 3.00%
Mortality Table Lauterbach & Amen (L&A) 2012 Illinois Firefighters'
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 assigned for
capital and economic development 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.
Capital Projects Fund – to account for revenues and expenditures involved with improvements
throughout the Village which are not included in other capital project funds.
112
2015 2014
Original Final Actual Actual
Local taxes
Property taxes for Village
Current year 1,802,441 $ 1,802,441 $ 1,831,910 $ 2,254,132 $
Prior year - - (31,351) (28,004)
Property taxes - debt service
Current year 1,765,500 1,765,500 1,827,597 1,919,762
Prior year - - (14,877) (14,263)
Property taxes - police and firefighters'
pension 5,697,388 5,697,388 5,755,971 5,088,261
Property taxes - other Village pensions 1,701,140 1,701,140 1,714,931 1,822,604
Total property taxes 10,966,469 10,966,469 11,084,181 11,042,492
Other taxes
Utility taxes
Natural gas 1,356,833 1,356,833 1,118,639 1,529,097
Electricity 2,395,441 2,395,441 2,189,830 2,230,618
Telecommunications 2,199,395 2,199,395 2,271,699 2,175,833
Hotel room tax 785,000 785,000 939,049 880,887
Amusement tax 96,823 96,823 90,947 87,591
Home rule sales tax 7,915,423 7,915,423 7,821,912 7,468,617
Business district tax 30,000 30,000 28,901 30,517
Miscellaneous taxes 1,675 1,675 - 3,604
Total other taxes 14,780,590 14,780,590 14,460,977 14,406,764
Total local taxes 25,747,059 25,747,059 25,545,158 25,449,256
Licenses and permits
Business licenses 90,000 90,000 80,880 101,153
Liquor licenses 195,000 195,000 203,817 194,301
Building permits 2,000,000 2,000,000 2,543,724 4,511,915
Contractors' fees 46,365 46,365 55,263 58,628
Engineering fees - - 298,110 200,383
Oversized vehicle permits 12,000 12,000 18,680 21,155
Plan fees 16,000 16,000 7,824 16,036
Total licenses and permits 2,359,365 2,359,365 3,208,298 5,103,571
(Continued)
Village of Glenview, Illinois
General Fund
Schedule of Detailed Revenues and Other Financing Sources - Budget and Actual
For the Year Ended December 31, 2015
(With comparative totals for the year ended December 31, 2014)
Budget
113
2015 2014
Original Final Actual Actual
Fees, fines, and service charges
Charges for services
Dog impound fees 2,200 $ 2,200 $ 1,410 $ 2,320 $
Lease fees 733,098 733,098 790,622 740,135
Natural gas franchise fees 41,021 41,021 42,739 41,021
Cable franchise fees 690,030 690,030 785,341 734,391
Bidder fees 4,000 4,000 900 3,600
Development fees 87,000 87,000 88,700 7,074
Insurance reimbursements 1,587,720 1,587,720 1,676,958 1,640,716
Copies 3,750 3,750 3,529 4,248
Special event fees 1,200 1,200 675 975
Map sales - - - 10
Inspection fees 3,000 3,000 18,020 1,495
Refuse and recycling charges
Bin sales 1,000 1,000 353 8,328
Yard waste sticker sales 6,000 6,000 4,676 5,259
Tipping fees 800,000 800,000 877,449 832,462
SWANCC recycling incentive 24,500 24,500 34,361 10,140
Joint dispatch charges
911 surcharge 283,051 283,051 277,837 279,580
Wireless 911 surcharge 342,001 342,001 368,607 333,016
Fire communication sub. service - - 15,889 -
Dispatch services 4,696,278 4,696,278 4,627,904 4,396,240
Other service charges
Police extra duty 175,100 175,100 209,891 181,820
Reimbursements 58,000 58,000 30,592 54,315
Supervision 7,384 7,384 6,104 7,363
Annexation fee - - 36,000 171,578
Miscellaneous 40,000 40,000 1,629,907 85,181
Administrative fees for governmental funds
Library Fund 135,700 135,700 136,000 136,000
SWANCC host community fees 85,000 85,000 94,594 88,917
Total charges for services 9,807,033 9,807,033 11,759,058 9,766,184
(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, 2015
(With comparative totals for the year ended December 31, 2014)
Budget
114
2015 2014
Original Final Actual Actual
Fees, fines, and service charges (continued)
Fines and forfeitures
Traffic fines 101,938 $ 101,938 $ 105,432 $ 101,908 $
Other fines 43,632 43,632 59,241 153,991
Total fines and forfeitures 145,570 145,570 164,673 255,899
Total fees, fines, and service
charges 9,952,603 9,952,603 11,923,731 10,022,083
Intergovernmental
Glenbrook Fire Protection District 2,200,000 2,200,000 2,192,514 2,189,062
Village of Golf fire protection services 151,840 151,840 157,912 151,840
Road and bridge taxes
Current year 389,500 389,500 394,501 387,884
Prior year - - (2,740) 1,249
Sales tax 16,574,462 16,574,462 15,635,705 14,972,367
Property replacement tax 229,215 229,215 211,495 247,806
Illinois income tax 4,395,908 4,395,908 4,832,506 4,232,425
Local use tax 770,373 770,373 994,035 873,126
Make-whole payment 1,334,898 1,334,898 1,352,890 1,329,174
Other intergovernmental
Grant proceeds - - 24,432 72,394
Total intergovernmental 26,046,196 26,046,196 25,793,250 24,457,327
Investment income
Interest - savings 11,010 11,010 25,821 14,646
Interest - investments 61,500 61,500 45,590 114,843
Total investment income 72,510 72,510 71,411 129,489
(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, 2015
(With comparative totals for the year ended December 31, 2014)
Budget
115
2015 2014
Original Final Actual Actual
Other revenues
Miscellaneous -$ -$ 7,055 $ 1,056 $
Total other revenues - - 7,055 1,056
Total revenues before other
financing sources 64,177,733 64,177,733 66,548,903 65,162,782
Other financing sources
Sale of land held for resale - - - 50,000
Proceeds from capital lease - - 981,451 -
Transfers in
North Maine Water and Sewer Fund 139,042 139,042 206,601 139,042
Wholesale Water Fund 300,000 300,000 300,000 300,000
Special Tax Allocation Fund 294,178 294,178 294,178 281,580
Insurance and Risk Fund 132,540 132,540 232,540 -
Capital Projects Fund - - 1,800,000 -
Total other financing sources 865,760 865,760 3,814,770 770,622
Total revenues and other
financing sources 65,043,493 $ 65,043,493 $ 70,363,673 $ 65,933,404 $
Schedule of Detailed Revenues and Other Financing Sources - Budget and Actual (Continued)
For the Year Ended December 31, 2015
(With comparative totals for the year ended December 31, 2014)
Budget
Village of Glenview, Illinois
General Fund
116
2015 2014
Original Final Actual Actual
General government
Village Board of Trustees
President and Board
Personnel 8,720 $ 8,720 $ 8,740 $ 8,989 $
Contractual services 47,900 47,900 40,604 48,831
Commodities 400 400 - -
Other charges 900 900 - 553
Total President and Board 57,920 57,920 49,344 58,373
Special board appropriations
Personnel 39,692 39,692 45,620 28,648
Contractual services 290,446 290,446 284,843 235,218
Other charges - - - 560
Total special board appropriations 330,138 330,138 330,463 264,426
Total Village Board of Trustees 388,058 388,058 379,807 322,799
Village Manager's office
Administration division
Personnel 799,666 833,168 1,031,086 941,973
Contractual services 27,869 76,219 68,189 64,480
Other charges 8,800 8,800 9,083 10,187
Total administration division 836,335 918,187 1,108,358 1,016,640
Human resources division
Personnel 214,459 217,153 230,964 218,097
Contractual services 41,051 41,051 59,433 73,551
Commodities 1,500 1,500 1,276 1,859
Other charges 1,408,390 1,408,390 1,430,210 1,466,761
Total human resources division 1,665,400 1,668,094 1,721,883 1,760,268
(Continued)
Budget
Village of Glenview, Illinois
General Fund
Schedule of Detailed Expenditures and Other Financing Uses - Budget and Actual
For the Year Ended December 31, 2015
(With comparative totals for the year ended December 31, 2014)
117
2015 2014
Original Final Actual Actual
General government (continued)
Village Manager's office (continued)
Communications division
Personnel 146,949 $ 149,134 $ 150,258 $ 146,638 $
Contractual services 84,201 84,201 72,896 123,968
Commodities 2,410 2,410 1,357 1,325
Other charges 1,900 1,900 405 275
Total communications division 235,460 237,645 224,916 272,206
Legal
Contractual services 462,925 626,343 572,621 484,769
Total legal 462,925 626,343 572,621 484,769
Records division
Personnel - - - 334,350
Contractual services - - - 156
Commodities - - - 1,249
Other charges - - - 1,751
Total records division - - - 337,506
Joint Dispatch division
Personnel 4,520,437 4,529,860 4,440,539 3,550,318
Contractual services 125,547 149,017 141,337 89,011
Commodities 28,299 28,299 28,939 26,460
Other charges 178,141 178,141 164,375 151,431
Total joint dispatch division 4,852,424 4,885,318 4,775,190 3,817,220
Total Village Manager's office 8,052,544 8,335,586 8,402,968 7,688,609
Administration services
Administration division
Personnel 329,122 343,863 376,810 368,933
Contractual services 3,084 3,084 3,157 2,353
Other charges 3,150 3,150 1,949 7,784
Total administration division 335,356 350,097 381,916 379,070
(Continued)
Schedule of Detailed Expenditures and Other Financing Uses - Budget and Actual (Continued)
For the Year Ended December 31, 2015
(With comparative totals for the year ended December 31, 2014)
Budget
Village of Glenview, Illinois
General Fund
118
2015 2014
Original Final Actual Actual
General government (continued)
Administration services (continued)
Finance
Personnel 678,956 $ 687,695 $ 719,878 $ 166,081 $
Contractual services 1,034,970 1,028,935 1,203,381 914,981
Commodities 1,780 1,838 1,839 -
Other charges 20,460 20,402 11,814 7,126
Total finance 1,736,166 1,738,870 1,936,912 1,088,188
General government
Personnel 396,815 79,749 - -
Contractual services 2,053,481 2,053,481 2,679,417 2,049,274
Commodities 36,075 41,075 30,283 29,216
Other charges 501,673 93,436 224,243 306,951
Total general government 2,988,044 2,267,740 2,933,943 2,385,441
Resolution center
Personnel 459,168 463,215 489,457 434,051
Contractual services - 6,035 5,358 -
Other charges 1,195 1,195 - 300
Total resolution center 460,363 470,445 494,815 434,351
CADD operations
Personnel 96,966 96,966 93,994 95,161
Contractual services 198,320 198,320 198,165 192,402
Other charges 175 175 737 -
Total CADD operations 295,461 295,461 292,896 287,563
Information technology (IT)
Contractual services 1,723,789 1,902,513 2,055,196 1,828,553
Commodities 89,486 112,183 141,062 72,593
Other charges 275,981 275,981 262,426 215,751
Total information technology 2,089,256 2,290,677 2,458,684 2,116,897
Total administration services 7,904,646 7,413,290 8,499,166 6,691,510
(Continued)
Schedule of Detailed Expenditures and Other Financing Uses - Budget and Actual (Continued)
General Fund
For the Year Ended December 31, 2015
(With comparative totals for the year ended December 31, 2014)
Budget
Village of Glenview, Illinois
119
2015 2014
Original Final Actual Actual
General government (continued)
Capital projects department
Facilities division
Personnel 7,200 $ 7,200 $ 12,458 $ -$
Other charges - - 28 -
Total facilities division 7,200 7,200 12,486 -
Total general government 16,352,448 $ 16,144,134 $ 17,294,427 $ 14,702,918 $
(Continued)
Budget
(With comparative totals for the year ended December 31, 2014)
General Fund
Schedule of Detailed Expenditures and Other Financing Uses - Budget and Actual (Continued)
For the Year Ended December 31, 2015
Village of Glenview, Illinois
120
2015 2014
Original Final Actual Actual
Public works department
Personnel 3,363,901 $ 3,403,044 $ 3,606,085 $ 3,561,978 $
Contractual services 3,371,971 3,338,219 3,180,845 3,622,641
Commodities 1,282,152 1,431,402 1,277,908 1,164,112
Other charges 884,522 882,765 843,950 828,045
Capital outlay 352,000 352,103 351,984 347,126
Total public works department 9,254,546 9,407,532 9,260,772 9,523,902
Public safety
Police department
Personnel 9,437,419 9,511,912 9,541,097 9,436,510
Contractual services 162,211 319,997 412,949 149,638
Commodities 130,830 142,168 114,251 186,780
Other charges 2,577,459 2,588,559 2,499,986 2,433,864
Total police department 12,307,919 12,562,635 12,568,283 12,206,792
Fire department
Personnel 10,371,715 10,418,064 10,397,532 10,494,241
Contractual services 175,935 354,638 214,195 106,290
Commodities 268,410 346,980 314,522 198,244
Other charges 4,633,403 4,633,403 4,830,296 4,071,799
Total fire department 15,449,463 15,753,085 15,756,545 14,870,574
Total public safety 27,757,382 28,315,720 28,324,828 27,077,366
(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, 2015
(With comparative totals for the year ended December 31, 2014)
121
2015 2014
Original Final Actual Actual
Community Development department
Administration
Personnel 235,705 $ 249,866 $ 393,336 $ 237,740 $
Contractual services 37,332 37,332 38,465 43,225
Commodities 7,525 7,525 4,155 4,151
Other charges 26,596 26,596 13,228 15,914
Total administration 307,158 321,319 449,184 301,030
Inspection services
Personnel 847,439 862,349 804,776 888,738
Contractual services 772,600 919,525 861,169 777,852
Commodities 11,558 11,558 5,584 6,781
Other charges 39,659 39,659 34,591 39,898
Total inspection services 1,671,256 1,833,091 1,706,120 1,713,269
Planning
Personnel 394,253 399,735 416,545 601,969
Contractual services 284,900 291,400 235,859 156,989
Commodities 400 400 428 400
Other charges 27,350 27,350 24,789 25,872
Total planning 706,903 718,885 677,621 785,230
(Continued)
Budget
(With comparative totals for the year ended December 31, 2014)
Village of Glenview, Illinois
General Fund
Schedule of Detailed Expenditures and Other Financing Uses - Budget and Actual (Continued)
For the Year Ended December 31, 2015
122
2015 2014
Original Final Actual Actual
Community Development department (continued)
Engineering
Personnel 276,689 $ 276,689 $ 280,792 $ 260,223 $
Contractual services 400,000 400,000 534,284 495,762
Other charges - - 10,407 8,443
Total engineering 676,689 676,689 825,483 764,428
Capital projects
Personnel 229,391 238,312 241,918 255,407
Total capital projects 229,391 238,312 241,918 255,407
Total community development 3,591,397 3,788,296 3,900,326 3,819,364
Total current expenditures 56,955,773 57,655,682 58,780,353 55,123,550
Capital outlay
Machinery and equipment 892,338 1,141,014 2,066,831 1,127,240
Total expenditures 57,848,111 58,796,696 60,847,184 56,250,790
Other financing uses
Transfers out
Internal service funds - - - 7
Corporate Purpose Debt Service Fund 2,195,382 2,195,382 2,269,836 2,339,912
Capital Projects Fund 11,400,000 11,412,476 11,704,643 8,464,654
Total other financing uses 13,595,382 13,607,858 13,974,479 10,804,573
Total expenditures and
other financing uses 71,443,493 $ 72,404,554 $ 74,821,663 $ 67,055,363 $
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, 2015
(With comparative totals for the year ended December 31, 2014)
123
2015 2014
Original Final Actual Actual
Revenues
Local taxes
Property taxes - incremental 30,852,192 $ 30,852,192 $ 30,479,916 $ 29,742,610 $
Intergovernmental - miscellaneous - - 41,356 -
Charges for services 24,945 24,945 24,945 23,004
Investment income 19,000 19,000 130,933 126,881
Other revenues - - - 607,393
Total revenues 30,896,137 30,896,137 30,677,150 30,499,888
Expenditures
General government
Personnel 415,965 415,965 411,752 413,034
Contractual services 21,599,257 21,599,257 20,360,692 20,779,103
Commodities 130,848 130,848 92,845 102,186
Other charges 9,432 9,432 9,193 394,003
Capital outlay - - - 3,111,289
Debt service
Bond issuance costs - - 20,250 -
Principal 6,476,414 6,476,414 16,510,938 30,870,000
Interest and fiscal charges 1,461,100 1,461,100 1,389,472 1,476,312
Total expenditures 30,093,016 30,093,016 38,795,142 57,145,927
Excess (deficiency) of revenues over
expenditures 803,121 803,121 (8,117,992) (26,646,039)
Other financing sources (uses)
Proceeds from sale of assets - - - 2,033,991
Issuance of debt - - 10,000,000 6,529,688
Transfers out
General Fund (294,178) (294,178) (294,178) (281,580)
Total other financing sources (uses) (294,178) (294,178) 9,705,822 8,282,099
Net change in fund balance 508,943 $ 508,943 $ 1,587,830 (18,363,940)
Fund balance - beginning (13,129,250) 5,234,690
Fund balance - ending (11,541,420) $ (13,129,250) $
Budget
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, 2015
(With comparative totals for the year ended December 31, 2014)
124
2015 2014
Original Final Actual Actual
Revenues
Charges for services 156,000 $ 156,000 $ -$ -$
Investment income 15,000 15,000 81,353 95,497
Total revenues 171,000 171,000 81,353 95,497
Expenditures
Development
Other charges - - - 100,609
Total expenditures - - - 100,609
Excess (deficiency) of revenues over
expenditures 171,000 171,000 81,353 (5,112)
Other financing sources (uses)
Transfers in
North Maine Water and Sewer Fund - 10,000,000 10,000,000 -
Transfers out
Facility Replacement Fund - - (9,424) (193,504)
Capital Projects Fund (3,350,141) (3,350,141) (5,515,596) (599,237)
Glenview Sanitary Fund (700,000) (700,000) - (805,612)
Total other financing sources (uses) (4,050,141) 5,949,859 4,474,980 (1,598,353)
Net change in fund balance (3,879,141) $ 6,120,859 $ 4,556,333 (1,603,465)
Fund balance - beginning 23,312,877 24,916,342
Fund balance - ending 27,869,210 $ 23,312,877 $
Budget
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, 2015
(With comparative totals for the year ended December 31, 2014)
125
2015 2014
Original Final Actual Actual
Revenues
Intergovernmental - grants and loans 6,678,468 $ 6,678,468 $ 20,364,975 $ 2,378,690 $
Other revenue 104,951 104,951 109,689 183,812
Investment income 10,000 10,000 5,617 28,378
Total revenues 6,793,419 6,793,419 20,480,281 2,590,880
Expenditures
Development
Contractual 401,565 520,452 33,681 4,287
Other charges - - - 132,647
Capital outlay 24,899,937 28,607,395 38,961,818 22,758,567
Debt service
Principal 24,371 24,371 24,371 24,371
Total expenditures 25,325,873 29,152,218 39,019,870 22,919,872
Deficiency of revenues over
expenditures (18,532,454) (22,358,799) (18,539,589) (20,328,992)
Other financing sources (uses)
Transfers in
General Fund 11,400,000 11,400,000 11,704,642 8,464,654
Village Permanent Fund 3,350,141 3,350,141 5,515,596 599,237
Wholesale Water Fund 494,295 494,295 494,295 1,179,898
Commuter Parking Lot Fund - - - 500,000
Municipal Equipment Repair Fund - - - 100,000
Insurance and Risk Fund - - 450,000 1,403,670
Facility Replacement Fund - - 187,573 1,250,000
Transfers out
General Fund - - (1,800,000) -
Total other financing sources (uses) 15,244,436 15,244,436 16,552,106 13,497,459
Net change in fund balance (3,288,018) $ (7,114,363) $ (1,987,483) (6,831,533)
Fund balance - beginning 2,279,448 9,110,981
Fund balance - ending 291,965 $ 2,279,448 $
Village of Glenview, Illinois
Capital Projects Fund - Major Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
For the Year Ended December 31, 2015
(With comparative totals for the year ended December 31, 2014)
Budget
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.
Waukegan Golf TIF Fund – to account for the incremental property tax revenue that is generated
through the growth of the assessed valuations at the redeveloped area near the northeast corner of the
Waukegan Road and Golf road intersection.
NONMAJOR DEBT SERVICE FUND
Corporate Purpose Bonds Fund - to account for the accumulation of monies for payment of principal
and interest on bonded debt paid from governmental fund resources.
NONMAJOR CAPITAL PROJECTS FUND
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.
126
Village of Glenview, Illinois
Nonmajor Governmental Funds
Combining Balance Sheet
December 31, 2015
Total
Special Debt Capital Nonmajor
Revenue Service Projects Governmental
Funds Fund Fund Funds
Cash and cash equivalents 2,215,723 $ 319,694 $ 1,100,853 $ 3,636,270 $
Investments - - 4,728,979 4,728,979
Receivables
Other - - 14 14
Due from other governments 100,865 - - 100,865
Total assets 2,316,588 $ 319,694 $ 5,829,846 $ 8,466,128 $
Liabilities
Accounts payable 122,101 $ -$ 72,271 $ 194,372 $
Other payables - - 82,184 82,184
Due to other funds - 377 - 377
Total liabilities 122,101 377 154,455 276,933
Fund balances
Restricted 2,194,487 - - 2,194,487
Assigned - 319,317 5,675,391 5,994,708
Total fund balances 2,194,487 319,317 5,675,391 8,189,195
Total liabilities and
fund balances 2,316,588 $ 319,694 $ 5,829,846 $ 8,466,128 $
Liabilities and Fund Balances
Assets
127
Village of Glenview, Illinois
Nonmajor Governmental Funds
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances
For the Year Ended December 31, 2015
Total
Special Debt Capital Nonmajor
Revenue Service Projects Governmental
Funds Fund Fund Funds
Revenues
Intergovernmental 1,674,477 $ -$ -$ 1,674,477 $
Investment income 10,788 5,385 874 17,047
Other revenue 710 - 3,149 3,859
Total revenues 1,685,975 5,385 4,023 1,695,383
Expenditures
Current
Public safety 96,522 - - 96,522
Development 13,125 - - 13,125
Capital outlay 1,672,013 - 429,465 2,101,478
Debt service
Principal - 1,440,000 - 1,440,000
Interest and fiscal charges 116,832 756,882 - 873,714
Total expenditures 1,898,492 2,196,882 429,465 4,524,839
Deficiency of revenues over
expenditures (212,517) (2,191,497) (425,442) (2,829,456)
Transfers in - 2,269,836 - 2,269,836
Total other financing sources - 2,269,836 - 2,269,836
Net change in fund balances (212,517) 78,339 (425,442) (559,620)
Fund balances – beginning 2,407,004 240,978 6,100,833 8,748,815
Fund balances – ending 2,194,487 $ 319,317 $ 5,675,391 $ 8,189,195 $
Other financing sources
128
Village of Glenview, Illinois
Nonmajor Special Revenue Funds
Combining Balance Sheet
December 31, 2015
Police
Foreign Department Total
Motor Fire Special Waukegan Nonmajor
Fuel Tax Insurance Account Golf TIF Special Revenue
Fund Fund Fund Fund Funds
Cash and cash equivalents 1,163,079 $ 231,009 $ 33,011 $ 788,624 $ 2,215,723 $
Due from other governments 100,865 - - - 100,865
Total assets 1,263,944 $ 231,009 $ 33,011 $ 788,624 $ 2,316,588 $
Liabilites
Accounts payable 70,601 $ -$ -$ 51,500 $ 122,101 $
Total liabilities 70,601 - - 51,500 122,101
Fund balances
Restricted 1,193,343 231,009 33,011 737,124 2,194,487
Total fund balances 1,193,343 231,009 33,011 737,124 2,194,487
Total liabilities and
fund balances 1,263,944 $ 231,009 $ 33,011 $ 788,624 $ 2,316,588 $
Liabilities and Fund Balances
Assets
129
Village of Glenview, Illinois
Nonmajor Special Revenue Funds
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances
For the Year Ended December 31, 2015
Police
Foreign Department Total
Motor Fire Special Waukegan Nonmajor
Fuel Tax Insurance Account Golf TIF Special Revenue
Fund Fund Fund Fund Funds
Revenues
Intergovernmental 1,557,902 $ 116,575 $ -$ -$ 1,674,477 $
Investment income 3,605 1,034 215 5,934 10,788
Other revenue - - 710 - 710
Total revenues 1,561,507 117,609 925 5,934 1,685,975
Expenditures
Public safety - 96,522 - - 96,522
Development - - - 13,125 13,125
Capital outlay 1,620,513 - - 51,500 1,672,013
Debt service
Interest and other charges - - - 116,832 116,832
Total expenditures 1,620,513 96,522 - 181,457 1,898,492
Excess (deficiency) of revenues
over (under) expenditures (59,006) 21,087 925 (175,523) (212,517)
Net change in fund balances (59,006) 21,087 925 (175,523) (212,517)
Fund balances – beginning 1,252,349 209,922 32,086 912,647 2,407,004
Fund balances – ending 1,193,343 $ 231,009 $ 33,011 $ 737,124 $ 2,194,487 $
130
Original and 2015 2014
Final Budget Actual Actual
Revenues
Intergovernmental
Motor fuel tax 1,449,673 $ 1,557,902 $ 1,909,953 $
Investment income 5,000 3,605 6,553
Total revenues 1,454,673 1,561,507 1,916,506
Expenditures
Development
Other charges - - 19,855
Capital outlay 1,647,672 1,620,513 2,098,392
Total expenditures 1,647,672 1,620,513 2,118,247
Net change in fund balance (192,999) $ (59,006) (201,741)
Fund balance - beginning 1,252,349 1,454,090
Fund balance - ending 1,193,343 $ 1,252,349 $
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, 2015
(With comparative totals for the year ended December 31, 2014)
131
Original and 2015 2014
Final Budget Actual Actual
Revenues
Intergovernmental
Foreign fire insurance tax 83,000 $ 116,575 $ 97,640 $
Investment income 800 1,034 922
Total revenues 83,800 117,609 98,562
Expenditures
Public safety
Contractual services 10,330 11,181 9,245
Commodities 79,670 85,341 125,485
Total expenditures 90,000 96,522 134,730
Net change in fund balance (6,200) $ 21,087 (36,168)
Fund balance - beginning 209,922 246,090
Fund balance - ending 231,009 $ 209,922 $
For the Year Ended December 31, 2015
(With comparative totals for the year ended December 31, 2014)
Village of Glenview, Illinois
Foreign Fire Insurance Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
132
Original and 2015 2014
Final Budget Actual Actual
Revenues
Investment income 95 $ 215 $ 170 $
Other revenue - 710 709
Total revenues 95 925 879
Expenditures
Capital outlay 32,119 - 27,500
Total expenditures 32,119 - 27,500
Net change in fund balance (32,024) $ 925 (26,621)
Fund balance - beginning 32,086 58,707
Fund balance - ending 33,011 $ 32,086 $
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, 2015
(With comparative totals for the year ended December 31, 2014)
133
Original and 2015 2014
Final Budget Actual Actual
Revenues
Investment income 4,000 $ 5,934 $ 6,950 $
Total revenues 4,000 5,934 6,950
Expenditures
Development
Contractual 10,000 13,125 2,220
Debt service
Interest and other charges 116,083 116,832 111,028
Capital outlay 175,000 51,500 3,272,836
Total expenditures 301,083 181,457 3,386,084
Net change in fund balance (297,083) $ (175,523) (3,379,134)
Fund balance - beginning 912,647 4,291,781
Fund balance - ending 737,124 $ 912,647 $
Village of Glenview, Illinois
Waukegan Golf TIF Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
For the Year Ended December 31, 2015
(With comparative totals for the year ended December 31, 2014)
134
Original
and Final 2015 2014
Budget Actual Actual
Revenues
Investment income 2,500 $ 5,385 $ 3,672 $
Total revenues 2,500 5,385 3,672
Expenditures
Debt service
Principal 1,440,000 1,440,000 1,470,000
Interest and fiscal charges 756,882 756,882 801,543
Total expenditures 2,196,882 2,196,882 2,271,543
Deficiency of revenues over
expenditures (2,194,382) (2,191,497) (2,267,871)
Other financing sources
Transfers in from other funds
General Fund 2,195,382 2,269,836 2,339,912
Total other financing sources 2,195,382 2,269,836 2,339,912
Net change in fund balance 1,000 $ 78,339 72,041
Fund balance - beginning 240,978 168,937
Fund balance - ending 319,317 $ 240,978 $
Village of Glenview, Illinois
Corporate Purpose Bonds Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
For the Year Ended December 31, 2015
(With comparative totals for the year ended December 31, 2014)
135
2015 2014
Original Final Actual Actual
Revenues
Investment income 3,125 $ 3,125 $ 874 $ 1,459 $
Other revenue 2,894 2,894 3,149 3,384
Total revenues 6,019 6,019 4,023 4,843
Expenditures
Capital outlay 1,048,080 1,076,479 429,465 2,235,378
Total expenditures 1,048,080 1,076,479 429,465 2,235,378
Net change in fund balance (1,042,061) $ (1,070,460) $ (425,442) (2,230,535)
Fund balance - beginning 6,100,833 8,331,368
Fund balance - ending 5,675,391 $ 6,100,833 $
Glen Capital Projects Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
For the Year Ended December 31, 2015
(With comparative totals for the year ended December 31, 2014)
Budget
Village of Glenview, Illinois
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.
136
Budget and Actual (Budgetary Basis)
2015 2014
Original Final Actual Actual
Operating revenues
Charges for sales and services
Water charges 11,757,721 $ 11,757,721 $ 11,708,720 $ 10,894,274 $
Water connection charges 150,000 150,000 323,965 250,582
Water meter and remote readers 2,000 2,000 3,292 5,006
Total charges for sales and services 11,909,721 11,909,721 12,035,977 11,149,862
Miscellaneous revenue
Late payment fees 155,000 155,000 145,040 133,781
Water for construction 20,000 20,000 38,363 56,146
Other 44,106 44,106 518,773 91,972
Total miscellaneous revenue 219,106 219,106 702,176 281,899
Total operating revenues 12,128,827 12,128,827 12,738,153 11,431,761
Operating expenses
Water services
Personnel 2,090,432 2,090,432 2,340,829 2,180,411
Contractual services 5,148,257 5,130,595 6,374,484 4,285,141
Commodities 914,671 929,336 2,626,590 834,430
Other charges 509,021 509,021 445,767 518,684
Capital outlay 4,405,428 4,568,797 4,703,523 3,799,429
Total operating expenses 13,067,809 13,228,181 16,491,193 11,618,095
Operating income (loss)(938,982) (1,099,354) (3,753,040) (186,334)
(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, 2015
(With comparative totals for the year ended December 31, 2014)
137
Budget and Actual (Budgetary Basis) (Continued)
2015 2014
Original Final Actual Actual
Nonoperating revenues (expenses)
Investment income (loss)7,900 $ 7,900 $ 4,601 $ (69,303) $
Loss on sale of capital assets - - (4,336) (110,880)
Debt service
Principal (344,400) (344,400) (344,400) (322,000)
Interest and fiscal charges (25,389) (25,389) (29,417) (36,449)
Total nonoperating revenues (expenses) (361,889) (361,889) (373,552) (538,632)
Net loss before transfers (1,300,871) (1,461,243) (4,126,592) (724,966)
Transfers in
North Maine Water and Sewer Fund - - 285,602 -
Change in net position - budgetary basis (1,300,871) $ (1,461,243) $ (3,840,990) (724,966)
GAAP basis adjustments
Acquisition of capital assets 2,632,112 2,344,622
Depreciation and amortization (1,275,710) (1,213,263)
Principal expense 344,400 322,000
Change in net position - GAAP basis (2,140,188) 728,393
Net position - beginning of year 38,510,290 37,781,897
Restatement of beginning of year net
position (396,100) -
Net position - beginning of year, as restated 38,114,190 37,781,897
Net position - end of year 35,974,002 $ 38,510,290 $
Budget
Glenview Water Fund - Major Fund
Schedule of Revenues, Expenses, and Changes in Net Position -
For the Year Ended December 31, 2015
(With comparative totals for the year ended December 31, 2014)
Village of Glenview, Illinois
138
Budget and Actual (Budgetary Basis)
2015 2014
Original Final Actual Actual
Operating revenues
Charges for sales and services
Water charges 8,092,374 $ 8,092,374 $ 2,387,962 $ 7,534,395 $
Water meter and remote readers 200 200 - 469
Sewer charges 619,852 619,852 130,334 454,624
Total charges for sales
and services 8,712,426 8,712,426 2,518,296 7,989,488
Miscellaneous revenue
Late payment fees 100,000 100,000 26,298 77,124
Other 1,150 1,150 5,387 2,100
Total miscellaneous revenue 101,150 101,150 31,685 79,224
Total operating revenues 8,813,576 8,813,576 2,549,981 8,068,712
Operating expenses
Water and sewer distribution
Personnel 830,603 830,603 303,714 867,231
Contractual services 7,031,764 7,035,367 2,054,357 6,046,040
Commodities 184,790 181,362 35,561 103,336
Other 670,778 12,670,778 12,055,669 121,948
Capital outlay 735,887 735,887 - 71,836
Total operating expenses 9,453,822 21,453,997 14,449,301 7,210,391
Operating income (loss)(640,246) (12,640,421) (11,899,320) 858,321
(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, 2015
(With comparative totals for the year ended December 31, 2014)
139
Budget and Actual (Budgetary Basis) (Continued)
2015 2014
Original Final Actual Actual
Nonoperating revenues (expenses)
Other income -$ -$ 113,267 $ -$
Investment income (loss)9,000 9,000 9,249 (56,087)
Gain on disposal of capital assets - - 15,825,645 -
Debt service
Principal (299,219) (299,219) (1,063,950) (291,249)
Interest and fiscal charges (59,892) (59,892) (281,363) (95,154)
Total nonoperating revenues
(expenses)(350,111) (350,111) 14,602,848 (442,490)
Net income (loss) before transfers (990,357) (12,990,532) 2,703,528 415,831
Transfers out
General Fund (139,042) (139,042) (206,601) (139,042)
Village Permanent Fund - (10,000,000) (10,000,000) -
Glenview Water Fund - - (285,602) -
Glenview Sanitary Sewer Fund - - (79,974) -
Total transfers in (139,042) (10,139,042) (10,572,177) (139,042)
Change in net position - budgetary basis (1,129,399) $ (23,129,574) $ (7,868,649) 276,789
GAAP basis adjustments
Depreciation and amortization (184,462) (241,913)
Principal expense 1,063,950 291,249
Change in net position - GAAP basis (6,989,161) 326,125
Net position - beginning of year 7,816,022 7,489,897
Net position - end of year 826,861 $ 7,816,022 $
Village of Glenview, Illinois
Budget
North Maine Water and Sewer Fund - Major Fund
Schedule of Revenues, Expenses, and Changes in Net Position -
For the Year Ended December 31, 2015
(With comparative totals for the year ended December 31, 2014)
140
Budget and Actual (Budgetary Basis)
2015 2014
Original Final Actual Actual
Operating revenues
Charges for sales and services
Sewer charges 2,217,964 $ 2,217,964 $ 2,248,484 $ 2,178,144 $
Sewer connection charges 6,000 6,000 38,257 10,060
Total charges for sales and services 2,223,964 2,223,964 2,286,741 2,188,204
Miscellaneous revenue
Other 70,644 70,644 236,300 74,821
Total operating revenues 2,294,608 2,294,608 2,523,041 2,263,025
Operating expenses
Sewerage services
Personnel 446,677 446,677 521,268 455,397
Contractual services 81,850 80,850 95,583 48,702
Commodities 29,706 30,706 37,152 53,489
Other charges 141,315 141,315 118,059 140,838
Capital outlay 2,435,822 2,587,758 1,627,518 2,486,757
Total operating expenses 3,135,370 3,287,306 2,399,580 3,185,183
Operating income (loss)(840,762) (992,698) 123,461 (922,158)
(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, 2015
(With comparative totals for the year ended December 31, 2014)
141
Budget and Actual (Budgetary Basis) (Continued)
2015 2014
Original Final Actual Actual
Nonoperating revenues (expenses)
Fines and fees
Heatherfield 7,000 $ 7,000 $ 9,719 $ 21,553 $
Investment income (loss)3,500 3,500 707 (18,137)
Loss on disposal of capital assets - - (1,877) -
Debt service
Principal (270,600) (270,600) (270,600) (264,000)
Interest and fiscal charges (19,949) (19,949) (18,646) (28,639)
Total nonoperating revenues (expenses) (280,049) (280,049) (280,697) (289,223)
Net income (loss) before transfers (1,120,811) (1,272,747) (157,236) (1,211,381)
Transfers in
Village Permanent Fund 700,000 700,000 - 805,612
North Maine Water and Sewer Fund - - 79,974 -
Total transfers in 700,000 700,000 79,974 805,612
Change in net position - budgetary basis (420,811) $ (572,747) $ (77,262) (405,769)
GAAP basis adjustments
Acquisition of capital assets 853,151 1,614,035
Depreciation and amortization (469,256) (451,855)
Principal expense 270,600 264,000
Change in net position - GAAP basis 577,233 1,020,411
Net position - beginning of year 18,738,223 17,717,812
Restatement of beginning of year net
position (82,554) -
Net position - beginning of year, as restated 18,655,669 17,717,812
Net position - end of year 19,232,902 $ 18,738,223 $
Budget
Glenview Sanitary Sewer Fund - Major Fund
Schedule of Revenues, Expenses, and Changes in Net Position -
For the Year Ended December 31, 2015
(With comparative totals for the year ended December 31, 2014)
Village of Glenview, Illinois
142
Village of Glenview, Illinois
Nonmajor Enterprise Funds
Combining Statement of Net Position
December 31, 2015
Total
Wholesale Commuter Nonmajor
Water Parking Lot Enterprise
Fund Fund Funds
Current assets
Cash and cash equivalents 638,760 $ 1,170,179 $ 1,808,939 $
Receivables
Accounts receivable, net of uncollectibles 159,606 - 159,606
Total current assets 798,366 1,170,179 1,968,545
Noncurent assets
Capital assets not being depreciated
Land - 500,000 500,000
Capital assets being depreciated
Land improvements - parking facilities - 2,552,649 2,552,649
Machinery and equipment - 13,283 13,283
Water distribution system 2,512,633 - 2,512,633
Accumulated depreciation (1,431,064) (811,190) (2,242,254)
Total noncurrent assets 1,081,569 2,254,742 3,336,311
Total assets 1,879,935 3,424,921 5,304,856
Accounts payable 92,085 25,059 117,144
Accrued payroll 3,104 - 3,104
Accrued expenses - 1,500 1,500
Total liabilities 95,189 26,559 121,748
Net investment in capital assets 1,081,569 2,254,742 3,336,311
Unrestricted 703,177 1,143,620 1,846,797
Total net position 1,784,746 $ 3,398,362 $ 5,183,108 $
Liabilities
Net Position
Assets
143
Village of Glenview, Illinois
Nonmajor Enterprise Funds
Combining Statement of Revenues, Expenses, and Changes in Net Position
For the Year Ended December 31, 2015
Total
Wholesale Commuter Nonmajor
Water Parking Lot Enterprise
Fund Fund Funds
Operating revenues
Charges for sales and services
Water sales 1,996,831 $ -$ 1,996,831 $
Parking meter fees - 226,264 226,264
Parking decals - 384,050 384,050
Total charges for sales and services 1,996,831 610,314 2,607,145
Miscellaneous revenues - 9,450 9,450
Total operating revenues 1,996,831 619,764 2,616,595
Operating expenses
Operations 1,172,689 349,629 1,522,318
Depreciation and amortization 62,816 74,900 137,716
Total operating expenses 1,235,505 424,529 1,660,034
Operating income 761,326 195,235 956,561
Nonoperating revenues
Investment income 157 379 536
Total nonoperating revenues 157 379 536
Net income before transfers 761,483 195,614 957,097
Transfers out (794,295) - (794,295)
Changes in net position (32,812) 195,614 162,802
Net position - beginning 1,817,558 3,202,748 5,020,306
Net position - ending 1,784,746 $ 3,398,362 $ 5,183,108 $
144
Village of Glenview, Illinois
Nonmajor Enterprise Funds
Combining Statement of Cash Flows
For the Year Ended December 31, 2015
Total
Wholesale Commuter Nonmajor
Water Parking Lot Enterprise
Fund Fund Funds
Cash flows from operating activities
Cash received from customers and users 1,996,731 $ 619,764 $ 2,616,495 $
Cash payments for goods and services (1,072,624) (372,625) (1,445,249)
Cash payments to employees (88,413) - (88,413)
Net cash provided by operating activities 835,694 247,139 1,082,833
Cash flows from noncapital financing activities
Transfers out (794,295) - (794,295)
Net cash used in noncapital
financing activities (794,295) - (794,295)
Cash flows from capital and related financing activities
Purchases and disposals of capital assets - (68,169) (68,169)
Net cash used in capital and related
financing activities - (68,169) (68,169)
Cash flows from investing activities
Purchase of investments - - -
Sale of investments - - -
Loss on investments - - -
Interest received 545 658 1,203
Net cash provided by investing activities 545 658 1,203
Decrease in cash and cash equivalents 41,944 179,628 221,572
Cash and cash equivalents – beginning of year 596,816 990,551 1,587,367
Cash and cash equivalents – end of year 638,760 $ 1,170,179 $ 1,808,939 $
(Continued)
145
Village of Glenview, Illinois
Nonmajor Enterprise Funds
Combining Statement of Cash Flows (Continued)
For the Year Ended December 31, 2015
Total
Wholesale Commuter Nonmajor
Water Parking Lot Enterprise
Fund Fund Funds
Reconciliation of operating income to net
cash provided by operating activities
Operating income 761,326 $ 195,235 $ 956,561 $
Adjustments to reconcile operating income
to net cash provided by operating activities
Depreciation and amortization 62,816 74,900 137,716
Changes in assets and liabilities
Accounts receivable (100) - (100)
Accounts payable 10,805 (22,996) (12,191)
Accrued payroll 847 - 847
Total adjustments 74,368 51,904 126,272
Net cash provided by operating activities 835,694 $ 247,139 $ 1,082,833 $
146
2015 2014
Original Final Actual Actual
Operating revenues
Charges for sales and services
Water sales 1,977,744 $ 1,977,744 $ 1,996,831 $ 1,891,731 $
Total operating revenues 1,977,744 1,977,744 1,996,831 1,891,731
Operating expenses
Personnel 81,332 81,332 88,413 84,247
Contractual services 1,073,075 1,073,075 1,051,074 880,423
Commodities 16,650 16,650 10,107 22,407
Other charges 21,675 21,675 23,095 14,844
Total operating expenses 1,192,732 1,192,732 1,172,689 1,001,921
Operating income 785,012 785,012 824,142 889,810
Nonoperating revenues (expenses)
Investment income (loss)2,000 2,000 157 (5,997)
Total nonoperating revenues (expenses)2,000 2,000 157 (5,997)
Net income before transfers 787,012 787,012 824,299 883,813
Transfers out to other funds
General Fund (300,000) (300,000) (300,000) (300,000)
Capital Projects Fund (494,295) (494,295) (494,295) (1,179,898)
Total transfers out (794,295) (794,295) (794,295) (1,479,898)
Change in net position - budgetary basis (7,283) $ (7,283) $ 30,004 (596,085)
GAAP Basis adjustments
Depreciation and amortization (62,816) (62,816)
Change in net position - GAAP Basis (32,812) (658,901)
Net position - beginning of year 1,817,558 2,476,459
Net position - end of year 1,784,746 $ 1,817,558 $
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, 2015
(With comparative totals for the year ended December 31, 2014)
Budget
147
2015 2014
Original Final Actual Actual
Operating revenues
Charges for sales and services
Parking meter fees 160,000 $ 160,000 $ 226,264 $ 220,840 $
Parking decals 376,000 376,000 384,050 386,164
Total charges for sales and services 536,000 536,000 610,314 607,004
Miscellaneous revenues
Vendor lease rental fee 10,125 10,125 9,450 8,750
Total operating revenues 546,125 546,125 619,764 615,754
Operating expenses
Contractual services 222,495 224,545 241,567 281,712
Commodities 71,241 69,191 48,874 53,127
Other charges 10,142 10,142 34,289 3,160
Capital outlay 222,000 301,639 104,538 118,700
Total operating expenses 525,878 605,517 429,268 456,699
Operating income 20,247 (59,392) 190,496 159,055
Nonoperating revenues (expenses)
Investment income (loss)1,950 1,950 379 (4,090)
Total nonoperating revenues (expenses)1,950 1,950 379 (4,090)
Net income before transfers 22,197 (57,442) 190,875 154,965
Transfers out to other funds
Capital Projects Fund - - - (500,000)
Change in net position - budgetary basis 22,197 $ (57,442) $ 190,875 (345,035)
GAAP basis adjustments
Acquisition of capital assets 79,639 114,700
Depreciation and amortization (74,900) (67,585)
Change in net position - GAAP basis 195,614 (297,920)
Net position - beginning of year 3,202,748 3,500,668
Net position - end of year 3,398,362 $ 3,202,748 $
Budget
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, 2015
(With comparative totals for the year ended December 31, 2014)
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 (CERF) - to account for the funds annually set aside for the
eventual replacement of certain capital equipment.
Municipal Equipment Repair Fund (MERF) - 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 Repair and Replacement Fund (FRRF) - to account for the funds annually set aside for the
eventual replacement of the Village's various facilities.
148
Village of Glenview, Illinois
Internal Service Funds
Combining Statement of Net Position
December 31, 2015
Capital Municipal
Equipment Equipment
Replacement Repair
Fund Fund
Current assets
Cash and cash equivalents 1,925,462 $ 175,542 $
Investments 2,480,146 -
Accounts receivable, net of uncollectible amounts - 17,933
Accrued interest receivable 10,883 -
Other receivables - -
Prepaid expenses 241,675 -
Inventory - 360,262
Total assets 4,658,166 553,737
Current liabilities
Accounts payable 176,260 85,206
Accrued payroll - 12,900
Accrued expenses 37,657 55
Due to other funds - -
Claims payable - -
Unearned revenues - -
Total current liabilities 213,917 98,161
Noncurrent liabilities
Claims payable - -
Total liabilities 213,917 98,161
Unrestricted 4,444,249 455,576
Total net position 4,444,249 $ 455,576 $
Liabilities
Net Position
Assets
149
Facilities Total
Insurance Repair and Internal
and Replacement Service
Risk Fund Fund Funds
2,837,875 $ 2,012,901 $ 6,951,780 $
4,293,716 - 6,773,862
48,406 9,425 75,764
13,560 - 24,443
60,000 - 60,000
87,372 - 329,047
- - 360,262
7,340,929 2,022,326 14,575,158
26,513 116,383 404,362
6,400 - 19,300
23 2,000 39,735
14,675 - 14,675
632,440 - 632,440
19,642 - 19,642
699,693 118,383 1,130,154
948,660 - 948,660
1,648,353 118,383 2,078,814
5,692,576 1,903,943 12,496,344
5,692,576 $ 1,903,943 $ 12,496,344 $
150
Village of Glenview, Illinois
Internal Service Funds
Combining Statement of Revenues, Expenses, and Changes in Fund Net Position
For the Year Ended December 31, 2015
Capital Municipal
Equipment Equipment
Replacement Repair
Fund Fund
Operating revenues
Charges for services 1,603,995 $ 1,399,708 $
Miscellaneous - 120,164
Total operating revenues 1,603,995 1,519,872
Operating expenses
Personnel - 465,145
Contractual services - 444,542
Commodities 209,776 231,190
Other charges - 394,642
Capital outlay 199,695 -
Total operating expenses 409,471 1,535,519
Operating income (loss)1,194,524 (15,647)
Nonoperating revenues
Investment income (loss)18,664 15
Gain on sale of capital assets 35,529 -
Reassignment of capital assets (1,627,844) -
Total nonoperating revenues (1,573,651) 15
Income (loss) before transfers (379,127) (15,632)
Transfers in - -
Transfers out - -
Total transfers - -
Change in net position (379,127) (15,632)
Net position – beginning of year 4,823,376 471,208
Net position – end of year 4,444,249 $ 455,576 $
151
Facilities Total
Insurance Repair and Internal
and Risk Replacement Service
Fund Fund Funds
7,210,061 $ 95,347 $ 10,309,111 $
80,502 9,425 210,091
7,290,563 104,772 10,519,202
594,017 - 1,059,162
6,020,812 114,305 6,579,659
- - 440,966
- - 394,642
- 218,116 417,811
6,614,829 332,421 8,892,240
675,734 (227,649) 1,626,962
340,439 2,286 361,404
- - 35,529
- - (1,627,844)
340,439 2,286 (1,230,911)
1,016,173 (225,363) 396,051
- 9,425 9,425
(682,540) (187,573) (870,113)
(682,540) (178,148) (860,688)
333,633 (403,511) (464,637)
5,358,943 2,307,454 12,960,981
5,692,576 $ 1,903,943 $ 12,496,344 $
152
Village of Glenview, Illinois
Internal Service Funds
Combining Statement of Cash Flows
For the Year Ended December 31, 2015
Capital Municipal
Equipment Equipment
Replacement Repair
Fund Fund
Cash flows from operating activities
Cash received from customers and users 1,603,995 $ 1,533,049 $
Cash payments for goods and services (802,104) (1,028,521)
Cash payments to employees - (465,145)
Net cash provided by (used in) operating activities 801,891 39,383
Cash flows from noncapital financing activities
Transfers in - -
Transfers out - -
Net cash provided by (used in) noncapital financing activities - -
Cash flows from capital and related financing activities
Purchases of capital assets (1,627,844) -
Proceeds from sales of capital assets 35,529 -
Net cash used in capital and related
financing activities (1,592,315) -
Cash flows from investing activities
Purchase of investments - -
Sale of investments 8,109 -
Interest received 12,319 20
Net cash provided by (used in) investing activities 20,428 20
Increase (decrease) in cash and cash equivalents (769,996) 39,403
Cash and cash equivalents – beginning of year 2,695,458 136,139
Cash and cash equivalents – end of year 1,925,462 $ 175,542 $
Reconciliation of operating income (loss) to net
cash provided by (used in) operating activities:
Operating income (loss)1,194,524 $ (15,647) $
Adjustments to reconcile operating income (loss)
to net cash provided by (used in) operating activities
Changes in assets and liabilities:
Accounts receivable - 13,177
Prepaid expenses (241,675) -
Inventory - 25,954
Accounts payable (178,408) 17,265
Accrued payroll - 972
Accrued expenses 27,450 (2,338)
Due to other funds - -
Claims payable - -
Unearned revenues - -
Total adjustments (392,633) 55,030
Net cash provided by (used in) operating activities 801,891 $ 39,383 $
153
Facilities Total
Insurance Repair and Internal
and Risk Replacement Service
Fund Fund Funds
7,296,885 $ 95,347 $ 10,529,276 $
(6,227,248) (392,090) (8,449,963)
(594,017) - (1,059,162)
475,620 (296,743) 1,020,151
- 9,425 9,425
(682,540) (187,573) (870,113)
(682,540) (178,148) (860,688)
- - (1,627,844)
- - 35,529
- - (1,592,315)
- -
523,723 400,000 931,832
356,151 6,350 374,840
879,874 406,350 1,306,672
672,954 (68,541) (126,180)
2,164,921 2,081,442 7,077,960
2,837,875 $ 2,012,901 $ 6,951,780 $
675,734 $ (227,649) $ 1,626,962 $
6,482 (9,425) 10,234
12,070 - (229,605)
- - 25,954
20,201 (43,555) (184,497)
3,782 - 4,754
- (16,114) 8,998
14,675 - 14,675
(257,164) - (257,164)
(160) - (160)
(200,114) (69,094) (606,811)
475,620 $ (296,743) $ 1,020,151 $
154
Budget and Actual (Budgetary Basis)
2015 2014
Original Final Actual Actual
Operating revenues
Charges for services
CERF charges 1,604,817 $ 1,604,817 $ 1,603,995 $ 1,513,935 $
Total charges for services 1,604,817 1,604,817 1,603,995 1,513,935
Operating expenses
Commodities 160,424 230,676 209,776 153,113
Capital outlay
Machinery and equipment 60,782 52,392 57,494 -
Computer servers 87,390 57,390 29,982 9,979
Vehicles 6,973 5,322 3,190 275,065
System Improvements - 92,836 109,029 -
Total operating expenses 315,569 438,616 409,471 438,157
Operating income 1,289,248 1,166,201 1,194,524 1,075,778
Nonoperating revenues (expenses)
Investment income 17,000 17,000 18,664 2,445
Gain on sale of capital assets 107,910 107,910 35,529 104,195
Reassignment of capital assets (2,301,942) (2,183,467) (1,627,844) (1,252,357)
Total nonoperating revenue (expenses) (2,177,032) (2,058,557) (1,573,651) (1,145,717)
Change in net position (887,784) $ (892,356) $ (379,127) (69,939)
Net position - beginning 4,823,376 4,893,315
Net position - ending 4,444,249 $ 4,823,376 $
Village of Glenview, Illinois
Capital Equipment Replacement Fund (CERF)
Schedule of Revenues, Expenses, and Changes in Net Position -
For the Year Ended December 31, 2015
(With comparative totals for the year ended December 31, 2014)
Budget
155
Budget and Actual (Budgetary Basis)
2015 2014
Original Final Actual Actual
Operating revenues
Charges for services
Village 1,542,768 $ 1,542,768 $ 1,398,600 $ 1,448,703 $
Library 5,000 5,000 1,108 591
Total charges for services 1,547,768 1,547,768 1,399,708 1,449,294
Miscellaneous revenues
Other charges 155,000 155,000 120,164 184,650
Total miscellaneous revenues 155,000 155,000 120,164 184,650
Total operating revenues 1,702,768 1,702,768 1,519,872 1,633,944
Operating expenses
Fleet management
Personnel 455,969 455,969 465,145 456,932
Contractual services 393,300 481,300 444,542 413,446
Commodities 241,865 273,315 231,190 222,114
Other charges 612,044 492,594 394,642 567,520
Total operating expenses 1,703,178 1,703,178 1,535,519 1,660,012
Operating loss (410) (410) (15,647) (26,068)
Nonoperating revenues
Investment income 410 410 15 34
Total nonoperating revenues 410 410 15 34
Income (loss) before transfers - - (15,632) (26,034)
Transfer out
Capital Projects Fund - - - (100,000)
Change in net position -$ -$ (15,632) (126,034)
Net position - beginning 471,208 597,242
Net position - ending 455,576 $ 471,208 $
Budget
(With comparative totals for the year ended December 31, 2014)
Village of Glenview, Illinois
Municipal Equipment Repair Fund (MERF)
Schedule of Revenues, Expenses, and Changes in Net Position -
For the Year Ended December 31, 2015
156
Budget and Actual (Budgetary Basis)
Original and 2015 2014
Final Budget Actual Actual
Operating revenues
Charges for services
Insurance premiums
Employees 789,697 $ 738,330 $ 814,592 $
Village 3,356,441 3,390,888 3,657,889
Retirees 856,749 909,543 858,264
Component unit - Library 525,545 514,689 570,864
Other 1,655,138 1,656,611 1,727,699
Total charges for services 7,183,570 7,210,061 7,629,308
Miscellaneous
Insurance recoveries 50,000 74,872 56,502
Other - 5,630 327
Total miscellaneous revenues 50,000 80,502 56,829
Total operating revenues 7,233,570 7,290,563 7,686,137
Operating expenses
Personnel 525,272 594,017 592,460
Contractual services 7,154,795 6,020,812 7,087,040
Total operating expenses 7,680,067 6,614,829 7,679,500
Operating income (loss)(446,497) 675,734 6,637
Nonoperating revenue
Investment income 310,750 340,439 1,039,980
Total nonoperating revenue 310,750 340,439 1,039,980
Income (loss) before transfers (135,747) 1,016,173 1,046,617
Transfers in (out)
General Fund - - 7
Capital Projects Fund (132,540) (682,540) (1,403,670)
Total transfers (132,540) (682,540) (1,403,663)
Change in net position (268,287) $ 333,633 (357,046)
Net position - beginning 5,358,943 5,715,989
Net position - ending 5,692,576 $ 5,358,943 $
For the Year Ended December 31, 2015
Village of Glenview, Illinois
Insurance and Risk Fund
(With comparative totals for the year ended December 31, 2014)
Schedule of Revenues, Expenses, and Changes in Net Position -
157
Budget and Actual (Budgetary Basis)
2015 2014
Original Final Actual Actual
Operating revenues
Charges for services
Facilities charges 95,025 $ 95,025 $ 95,347 $ -$
Total charges for services 95,025 95,025 95,347 -
Miscellaneous
Intergovernmental - - - -
Other income - - 9,425 -
Total miscellaneous revenues - - 9,425 -
Total operating revenues 95,025 95,025 104,772 -
Operating expenses
Contractual services - - 114,305 136,930
Capital outlay
Furniture and fixtures - - - -
Vehicles and equipment - - - -
Building improvements 684,500 512,160 218,116 124,535
Other operating expenses 684,500 512,160 332,421 261,465
Total operating loss (589,475) (417,135) (227,649) (261,465)
Nonoperating revenues
Investment income (loss)14,000 14,000 2,286 (34,804)
Reassignment of capital assets - - - (545,012)
Total nonoperating revenues 14,000 14,000 2,286 (579,816)
Loss before transfers (575,475) (403,135) (225,363) (841,281)
Transfers in (out)
Village Permanent Fund - - 9,425 193,504
Capital Projects Fund - (187,573) (187,573) (1,250,000)
Total transfers - (187,573) (178,148) (1,056,496)
Change in net position (575,475) $ (590,708) $ (403,511) (1,897,777)
Net position - beginning 2,307,454 4,205,231
Net position - ending 1,903,943 $ 2,307,454 $
Budget
Facilities Repair and Replacement Fund (FRRF)
Schedule of Revenues, Expenses, and Changes in Net Position -
For the Year Ended December 31, 2015
(With comparative totals for the year ended December 31, 2014)
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.
158
Village of Glenview, Illinois
Pension Trust Funds
Combining Statement of Fiduciary Net Position
December 31, 2015
Police Firefighters'
Pension Pension
Fund Fund Total
Assets
Cash and cash equivalents 1,736,202 $ 916,103 $ 2,652,305 $
Investments
U.S. government and agency obligations 18,845,417 24,155,159 43,000,576
Municipal obligations 366,982 4,871,327 5,238,309
Corporate obligations 10,724,801 - 10,724,801
Equity mutual funds 36,926,382 41,687,528 78,613,910
Accrued interest receivable 152,496 185,940 338,436
Due from other funds 9,192 12,925 22,117
Prepaid expenses 6,103 4,472 10,575
Total assets 68,767,575 71,833,454 140,601,029
Liabilities
Accrued expenses 11,040 40,901 51,941
Net Position
Restricted for pensions 68,756,535 $ 71,792,553 $ 140,549,088 $
159
Village of Glenview, Illinois
Pension Trust Funds
Combining Statement of Changes in Fiduciary Net Position
For the Year Ended December 31, 2015
Police Firefighters'
Pension Pension
Fund Fund Total
Additions
Contributions
Employer 7,494,545 $ 10,309,348 $ 17,803,893 $
Participant 777,705 750,195 1,527,900
Total contributions 8,272,250 11,059,543 19,331,793
Investment income
Net appreciation in fair value of investments (2,648,641) (1,717,287) (4,365,928)
Interest income 2,713,029 2,662,007 5,375,036
Less investment expenses (67,367) (126,971) (194,338)
Net investment income (2,979) 817,749 814,770
Total additions 8,269,271 11,877,292 20,146,563
Deductions
Administration 51,118 82,809 133,927
Retirement pensions 3,194,414 4,535,297 7,729,711
Widow pensions 297,558 332,160 629,718
Disability pensions 171,916 460,490 632,406
Contribution refunds 1,343 - 1,343
Total deductions 3,716,349 5,410,756 9,127,105
Change in net position 4,552,922 6,466,536 11,019,458
Net position restricted for pensions at beginning of year 64,203,613 65,326,017 129,529,630
Net position restricted for pensions at end of year 68,756,535 $ 71,792,553 $ 140,549,088 $
160
Original and 2015 2014
Final Budget Actual Actual
Additions
Contributions
Employer 1,957,880 $ 7,494,545 $ 1,953,494 $
Participant 709,035 777,705 686,942
Total contributions 2,666,915 8,272,250 2,640,436
Investment income
Net appreciation
in fair value of investments 2,900,000 (2,648,641) 135,576
Interest income 800,000 2,713,029 2,725,018
Less investment expense (89,862) (67,367) (61,160)
Net investment income 3,610,138 (2,979) 2,799,434
Total additions 6,277,053 8,269,271 5,439,870
Deductions
Administration 54,000 51,118 45,490
Retirement pensions 2,921,080 3,194,414 2,864,823
Widow pensions 294,743 297,558 290,353
Disability pensions 122,957 171,916 119,375
Contribution refunds 50,000 1,343 -
Total deductions 3,442,780 3,716,349 3,320,041
Change in net position 2,834,273 $ 4,552,922 2,119,829
Net position restricted for pensions
Beginning 64,203,613 62,083,784
Ending 68,756,535 $ 64,203,613 $
Village of Glenview, Illinois
Police Pension Fund
Schedule of Changes in Plan Net Position - Budget and Actual
For the Year Ended December 31, 2015
(With comparative totals for the year ended December 31, 2014)
161
Original and 2015 2014
Final Budget Actual Actual
Additions
Contributions
Employer 3,739,508 $ 10,309,348 $ 3,134,768 $
Participant 755,182 750,195 751,554
Total contributions 4,494,690 11,059,543 3,886,322
Investment income
Net appreciation (depreciation)
in fair value of investments 3,100,000 (1,717,287) 1,889,523
Interest income 800,000 2,662,007 2,528,436
Less investment expense (178,866) (126,971) (143,842)
Net investment income 3,721,134 817,749 4,274,117
Total additions 8,215,824 11,877,292 8,160,439
Deductions
Administration 45,210 82,809 44,601
Retirement pensions 4,250,528 4,535,297 4,107,403
Widow pensions 275,564 332,160 298,993
Disability pensions 452,780 460,490 453,447
Contribution refunds 50,000 - 2,364
Total deductions 5,074,082 5,410,756 4,906,808
Change in net position 3,141,742 $ 6,466,536 3,253,631
Net position restricted for pensions
Beginning 65,326,017 62,072,386
Ending 71,792,553 $ 65,326,017 $
Village of Glenview, Illinois
Firefighters' Pension Fund
Schedule of Changes in Plan Net Position - Budget and Actual
For the Year Ended December 31, 2015
(With comparative totals for the year ended December 31, 2014)
162
Village of Glenview, Illinois
Agency Funds
Statements of Changes in Assets and Liabilities
For the Year Ended December 31, 2015
Balances,Balances,
January 1 Additions Subtractions December 31
COMBINING STATEMENT - ALL AGENCY FUNDS
Assets
Cash and cash equivalents 995,686 $ 2,914,757 $ 3,573,935 $ 336,508 $
Investments 2,903,249 - 1,871,674 1,031,575
Receivables -
Property taxes 208,595 235,855 208,595 235,855
Interest 19,030 - 7,853 11,177
Other 949 - 949 -
Total assets 4,127,509 $ 3,150,612 $ 5,663,006 $ 1,615,115 $
Liabilities
Accounts payable 169,250 $ 737,096 $ 900,046 $ 6,300 $
Refundable deposits 3,597,799 4,706,651 7,102,765 1,201,685
Due to bond holders 360,460 1,263,340 1,216,670 407,130
Total liabilities 4,127,509 $ 6,707,087 $ 9,219,481 $ 1,615,115 $
INDIVIDUAL AGENCY FUND STATEMENTS
Special Service Area (SSA) Bond Fund
Assets
Cash and cash equivalents 151,671 $ 271,991 $ 252,387 $ 171,275 $
Receivables - property taxes 208,595 235,855 208,595 235,855
Receivables - other 194 - 194 -
Total assets 360,460 $ 507,846 $ 461,176 $ 407,130 $
Liabilities
Due to bond holders 360,460 $ 1,263,340 $ 1,216,670 $ 407,130 $
Total liabilities 360,460 $ 1,263,340 $ 1,216,670 $ 407,130 $
(Continued)
163
Village of Glenview, Illinois
Statements of Changes in Assets and Liabilities (Continued)
Agency Funds
For the Year Ended December 31, 2015
Balances,Balances,
January 1 Additions Subtractions December 31
INDIVIDUAL AGENCY FUND STATEMENTS (CONTINUED)
Escrow Deposit Fund
Assets
Cash and cash equivalents 844,015 $ 2,642,766 $ 3,321,548 $ 165,233 $
Investments 2,903,249 - 1,871,674 1,031,575
Receivables - interest 19,030 - 7,853 11,177
Receivables - other 755 - 755 -
Total assets 3,767,049 $ 2,642,766 $ 5,201,830 $ 1,207,985 $
Liabilities
Accounts payable 169,250 $ 737,096 $ 900,046 $ 6,300 $
Refundable deposits 3,597,799 4,706,651 7,102,765 1,201,685
Total liabilities 3,767,049 $ 5,443,747 $ 8,002,811 $ 1,207,985 $
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.
164
Village of Glenview, Illinois
Glenview Library - Component Unit
Combining Balance Sheet and Statement of Net Position
December 31, 2015
Library
General
Library Obligation Nonmajor
General Bond Series Library Total
Fund of 2009A Funds Library
Assets
Current assets
Cash and cash equivalents 3,832,662 $ 356,133 $ 572,954 $ 4,761,749 $
Investments - - 246,800 246,800
Receivables, net of allowances
Property taxes 5,908,929 1,832,987 - 7,741,916
Interest - - 115 115
Due from other funds 31,206 - - 31,206
Total current assets 9,772,797 2,189,120 819,869 12,781,786
Noncurrent assets
Capital assets not depreciated - - - -
Capital assets depreciated (net)- - - -
Total noncurrent assets - - - -
Total assets 9,772,797 2,189,120 819,869 12,781,786
Deferred Outflows of Resources
Deferred outflows due to pensions - - - -
Combining Balance Sheet
165
Total
Component
Adjustments Unit
-$ 4,761,749 $
- 246,800
- 7,741,916
- 115
(31,206) -
(31,206) 12,750,580
5,426,987 5,426,987
25,699,819 25,699,819
31,126,806 31,126,806
31,095,600 43,877,386
1,381,433 1,381,433
(Continued)
Statement of Net Position
166
Village of Glenview, Illinois
Glenview Library - Component Unit
Combining Balance Sheet and Statement of Net Position
December 31, 2015
Library
General
Library Obligation Nonmajor
General Bond Series Library Total
Fund of 2009A Funds Library
Liabilities
Current liabilities
Accounts payable 451,792 $ -$ 23,383 $ 475,175 $
Accrued payroll 150,977 - - 150,977
Accrued interest - - - -
Current portion of bonds payable - - - -
Current portion of compensated
absences - - - -
Due to other funds - - 31,206 31,206
Total current liabilities 602,769 - 54,589 657,358
Noncurrent liabilities
Bond payable - - - -
Net pension liability - - - -
Compensated absences - - - -
Total noncurrent liabilities - - - -
Total liabilities 602,769 - 54,589 657,358
Deferred Inflows of Resources
Deferred property taxes 5,940,186 1,838,375 - 7,778,561
Deferred inflows due to pensions - - - -
Total deferred inflows of resources 5,940,186 1,838,375 - 7,778,561
Net investment in capital assets - - - -
Restricted - 350,745 765,280 1,116,025
Unassigned/unrestricted 3,229,842 - - 3,229,842
Total fund balance/net position 3,229,842 350,745 765,280 4,345,867
Total liabilities, deferred inflows
of resources and fund balance/
net position 9,772,797 $ 2,189,120 $ 819,869 $ 12,781,786 $
Fund Balance/Net Position
Combining Balance Sheet
167
Total
Component
Adjustments Unit
-$ 475,175 $
- 150,977
65,011 65,011
1,155,000 1,155,000
53,839 53,839
(31,206) -
1,242,644 1,900,002
19,330,000 19,330,000
2,094,473 2,094,473
215,357 215,357
21,639,830 21,639,830
22,882,474 23,539,832
- 7,778,561
35,431 35,431
35,431 7,813,992
10,641,806 10,641,806
- 1,116,025
(1,082,678) 2,147,164
9,559,128 13,904,995
32,441,602 $ 45,223,388 $
Statement of Net Position
168
Village of Glenview, Illinois
Glenview Library - Component Unit
Combining Statement of Revenues, Expenditures, and Changes in
Fund Balances and Statement of Activities
Year Ended December 31, 2015
Library
General
Library Obligation Nonmajor
General Bond Series Library Total
Fund of 2009A Funds Library
Revenues
Property taxes 5,891,846 $ 2,006,818 $ -$ 7,898,664 $
Charges for services 64,536 - - 64,536
Fines and forfeitures 78,679 - - 78,679
Intergovernmental 1,167,510 - - 1,167,510
Other revenue 48,405 - 58,762 107,167
Investment income 11,751 7,243 2,679 21,673
Total revenues 7,262,727 2,014,061 61,441 9,338,229
Expenditures
Current
Culture and recreation 6,703,644 - 39,474 6,743,118
Debt service
Principal - 1,125,000 - 1,125,000
Interest and other - 814,381 - 814,381
Capital outlay 254,099 - 45,414 299,513
Total expenditures 6,957,743 1,939,381 84,888 8,982,012
Net change in fund balances/
net position 304,984 74,680 (23,447) 356,217
Fund balances/net position
Beginning, as restated 2,924,858 276,065 788,727 3,989,650
Ending 3,229,842 $ 350,745 $ 765,280 $ 4,345,867 $
and Changes in Fund Balances
Statement of Revenues, Expenditures,
169
Total
Component
Adjustments Unit
-$ 7,898,664 $
- 64,536
- 78,679
- 1,167,510
- 107,167
- 21,673
- 9,338,229
782,902 7,526,020
(1,125,000) -
(2,813) 811,568
(299,513) -
(644,424) 8,337,588
644,424 1,000,641
8,914,704 12,904,354
9,559,128 $ 13,904,995 $
Statement of Activities
170
2015 2014
Original Final Actual Actual
Revenues
Local taxes
Property taxes for Library
Current year 5,936,578 $ 5,936,578 $ 5,942,531 $ 5,931,531 $
Prior year - - (50,685) (45,474)
Total local taxes 5,936,578 5,936,578 5,891,846 5,886,057
Charges for services
Nonresident fee 18,000 18,000 20,656 16,019
Personal books 1,250 1,250 2,160 1,249
Copying fees 10,000 10,000 15,915 14,115
Circular collection fees - - 390 8
Video fees 27,500 27,500 23,331 25,315
Rental fees 2,000 2,000 2,084 2,084
Total charges for services 58,750 58,750 64,536 58,790
Fines and forfeitures
Library fines 64,000 64,000 67,737 63,280
Lost and paid 11,000 11,000 10,942 12,236
Total fines and forfeitures 75,000 75,000 78,679 75,516
Intergovernmental
Property replacement tax 29,000 29,000 142,511 29,000
Make-whole TIF area taxes 959,538 959,538 969,134 959,619
Grant proceeds 50,000 50,000 55,865 55,865
Total intergovernmental 1,038,538 1,038,538 1,167,510 1,044,484
Investment income
Interest 11,500 11,500 11,751 14,706
Other revenue
Employee dental contribution 15,500 15,500 16,451 14,896
Miscellaneous 24,000 24,000 31,954 27,299
Total other revenues 39,500 39,500 48,405 42,195
Total revenues 7,159,866 7,159,866 7,262,727 7,121,748
(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, 2015
Budget
171
2015 2014
Original Final Actual Actual
Expenditures
Culture and recreation
Library administration
Personnel 1,128,610 $ 1,128,610 $ 1,065,037 $ 1,115,693 $
Contractual services 311,800 311,800 323,028 299,257
Commodities 8,100 8,100 7,649 8,124
Other charges 80,300 80,300 47,253 150,843
Total library administration 1,528,810 1,528,810 1,442,967 1,573,917
Readers' services
Personnel 818,088 818,088 800,196 781,015
Contractual services 38,700 38,700 36,337 36,291
Commodities 251,650 251,650 251,562 240,953
Other charges 4,300 4,300 2,770 1,847
Total readers' services 1,112,738 1,112,738 1,090,865 1,060,106
Buildings and grounds maintenance
Personnel 198,082 198,082 199,299 195,898
Contractual services 104,700 104,700 124,480 118,498
Commodities 67,250 67,250 63,137 77,405
Other charges 1,000 1,000 187 149
Total building and grounds
maintenance 371,032 371,032 387,103 391,950
Circulation
Personnel 877,945 877,945 844,441 845,765
Contractual services 14,165 14,165 11,288 12,367
Commodities 18,350 18,350 11,211 10,005
Other charges 4,175 4,175 2,245 2,594
Total circulation 914,635 914,635 869,185 870,731
(Continued)
Village of Glenview, Illinois
Glenview Library - Component Unit - Library General Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance (Continued)
For the Year Ended December 31, 2015
Budget
172
2015 2014
Original Final Actual Actual
Expenditures (continued)
Public information
Personnel 170,641 $ 170,641 $ 166,147 $ 157,569 $
Contractual services 52,425 52,425 46,917 48,810
Commodities 3,700 3,700 4,431 3,722
Other charges 400 400 329 281
Total public information 227,166 227,166 217,824 210,382
Technical services
Personnel 803,257 568,931 570,116 813,503
Contractual services 184,500 9,500 7,169 161,819
Commodities 23,450 17,000 13,181 27,444
Other charges 6,600 3,100 3,166 2,610
Total technical services 1,017,807 598,531 593,632 1,005,376
Youth services
Personnel 688,533 688,533 632,459 654,325
Contractual services 53,500 53,500 54,217 47,744
Commodities 116,100 116,100 121,223 117,530
Other charges 4,400 4,400 1,941 1,997
Total youth services 862,533 862,533 809,840 821,596
Reference
Personnel 656,591 656,591 632,093 624,961
Contractual services 181,400 181,400 175,356 174,988
Commodities 165,945 165,945 83,819 135,847
Other charges 4,390 4,390 179 1,320
Total reference 1,008,326 1,008,326 891,447 937,116
(Continued)
Glenview Library - Component Unit - Library General Fund
Village of Glenview, Illinois
Schedule of Revenues, Expenditures, and Changes in Fund Balance (Continued)
For the Year Ended December 31, 2015
Budget
173
2015 2014
Original Final Actual Actual
Expenditures (continued)
Information technology
Personnel -$ 234,326 $ 226,280 $ -$
Contractual services - 175,000 164,678 -
Commodities - 6,450 8,278 -
Other charges - 3,500 1,545 -
Total information technology - 419,276 400,781 -
Total culture and recreation 7,043,048 7,043,048 6,703,644 6,871,174
Capital outlay
Furniture and fixtures 1,350 1,350 1,419 597
Machinery and equipment 6,500 6,500 3,789 2,250
Information system 235,600 235,600 248,891 215,826
Total capital outlay 243,450 243,450 254,099 218,673
Total expenditures 7,286,498 7,286,498 6,957,743 7,089,847
Net change in fund balance (126,632) $ (126,632) $ 304,984 31,901
Fund balance - beginning 2,924,858 2,892,957
Fund balance - ending 3,229,842 $ 2,924,858 $
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, 2015
174
Original
and Final 2015 2014
Budget Actual Actual
Revenues
Property taxes 1,958,270 $ 2,006,818 $ 2,024,197 $
Investment income 4,000 7,243 4,494
Total revenues 1,962,270 2,014,061 2,028,691
Expenditures
Debt service
Principal 1,125,000 1,125,000 1,095,000
Interest and other 814,131 814,381 847,231
Total expenditures 1,939,131 1,939,381 1,942,231
Net change in fund balance 23,139 $ 74,680 86,460
Fund balance - beginning 276,065 189,605
Fund balance - ending 350,745 $ 276,065 $
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, 2015
175
Village of Glenview, Illinois
Glenview Library - Component Unit - Library Nonmajor Funds
Combining Balance Sheet
December 31, 2015
Friends Total
of the Special
Library Gift Revenue
Cash and cash equivalents 100,853 $ 118,458 $ 219,311 $
Investments - - -
Interest receivable - - -
Total assets 100,853 $ 118,458 $ 219,311 $
Liabilities
Accounts payable 13,964 $ -$ 13,964 $
Due to other funds - - -
Total liabilities 13,964 - 13,964
Fund balances
Restricted 86,889 118,458 205,347
Total fund balances 86,889 118,458 205,347
Total liabilities and
fund balances 100,853 $ 118,458 $ 219,311 $
Special Revenue Funds
Liabilities and Fund Balances
Assets
176
Library Library Total Total
Capital Special Capital Nonmajor
Contribution Reserve Project Library
57,009 $ 296,634 $ 353,643 $ 572,954 $
- 246,800 246,800 246,800
- 115 115 115
57,009 $ 543,549 $ 600,558 $ 819,869 $
195 $ 9,224 $ 9,419 $ 23,383 $
- 31,206 31,206 31,206
195 40,430 40,625 54,589
56,814 503,119 559,933 765,280
56,814 503,119 559,933 765,280
57,009 $ 543,549 $ 600,558 $ 819,869 $
Capital Project Funds
177
Village of Glenview, Illinois
Glenview Library - Component Unit - Library Nonmajor Funds
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances
For the Year Ended December 31, 2015
Friends Total
of the Special
Library Gift Revenue
Revenues
Other revenue
Donations 40,000 $ -$ 40,000 $
Investment income 449 748 1,197
Total revenues 40,449 748 41,197
Expenditures
Culture and recreation
Miscellaneous 24,202 - 24,202
Capital outlay - - -
Total expenditures 24,202 - 24,202
Net change in fund balances 16,247 748 16,995
Fund balances - beginning 70,642 117,710 188,352
Fund balances - ending 86,889 $ 118,458 $ 205,347 $
Special Revenue Funds
178
Library Library Total Total
Capital Special Capital Nonmajor
Contribution Reserve Project Library
18,762 $ -$ 18,762 $ 58,762 $
376 1,106 1,482 2,679
19,138 1,106 20,244 61,441
10,866 4,406 15,272 39,474
- 45,414 45,414 45,414
10,866 49,820 60,686 84,888
8,272 (48,714) (40,442) (23,447)
48,542 551,833 600,375 788,727
56,814 $ 503,119 $ 559,933 $ 765,280 $
Capital Project Funds
179
2015 2014
Original Final Actual Actual
Revenues
Investment income 2,500 $ 2,500 $ 1,106 $ 2,974 $
Total revenues 2,500 2,500 1,106 2,974
Expenditures
Miscellaneous 31,500 66,366 4,406 102,958
Capital outlay - - 45,414 -
Total expenditures 31,500 66,366 49,820 102,958
Net change in fund balance (29,000) $ (63,866) $ (48,714) (99,984)
Fund balance - beginning 551,833 651,817
Fund balance - ending 503,119 $ 551,833 $
Budget
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, 2015
OTHER SUPPLEMENTAL INFORMATION
180
Village of Glenview, Illinois
General Obligation Bond Series 2007A
Long-term Debt Requirements
December 31, 2015
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 31 Principal Interest Total June 1 Amount December 1 Amount
2016 635,000 $ 23,812 $ 658,812 $ 2016 11,906 $ 2016 11,906 $
Note: Principal and interest is payable from the Glenview Water Fund and the Glenview Sanitary Sewer Fund.
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Requirements Interest Due on
181
Village of Glenview, Illinois
General Obligation Bond Series 2007B
Long-term Debt Requirements
December 31, 2015
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 31 Principal Interest Total June 1 Amount December 1 Amount
2016 130,000 $ 6,500 $ 136,500 $ 2016 3,250 $ 2016 3,250 $
Note: Principal and interest is payable from the North Maine Water and Sewer Fund.
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Requirements Interest Due on
182
Village of Glenview, Illinois
General Obligation Bond Series 2009A
Long-term Debt Requirements
December 31, 2015
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 31 Principal Interest Total June 1 Amount December 1 Amount
2016 1,155,000 $ 780,131 $ 1,935,131 $ 2016 390,066 $ 2016 390,066 $
2017 1,190,000 745,481 1,935,481 2017 372,741 2017 372,741
2018 1,225,000 703,831 1,928,831 2018 351,916 2018 351,916
2019 1,270,000 660,956 1,930,956 2019 330,478 2019 330,478
2020 1,310,000 616,506 1,926,506 2020 308,253 2020 308,253
2021 1,360,000 567,381 1,927,381 2021 283,691 2021 283,691
2022 1,410,000 516,381 1,926,381 2022 258,191 2022 258,191
2023 1,460,000 463,506 1,923,506 2023 231,753 2023 231,753
2024 1,520,000 408,756 1,928,756 2024 204,378 2024 204,378
2025 1,580,000 347,956 1,927,956 2025 173,978 2025 173,978
2026 1,645,000 284,756 1,929,756 2026 142,378 2026 142,378
2027 1,715,000 218,956 1,933,956 2027 109,478 2027 109,478
2028 1,785,000 150,356 1,935,356 2028 75,178 2028 75,178
2029 1,860,000 76,725 1,936,725 2029 38,363 2029 38,363
20,485,000 $ 6,541,678 $ 27,026,678 $ 3,270,842 $ 3,270,842 $
Note: Principal and interest is payable from proceeds of the library property tax levy.
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Requirements Interest Due on
183
Village of Glenview, Illinois
General Obligation Bond Series 2009D
Long-term Debt Requirements
December 31, 2015
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 31 Principal Interest Total June 1 Amount December 1 Amount
2016 1,365,000 $ 136,150 $ 1,501,150 $ 2016 68,075 $ 2016 68,075 $
2017 1,360,000 95,200 1,455,200 2017 47,600 2017 47,600
2018 1,360,000 54,400 1,414,400 2018 27,200 2018 27,200
4,085,000 $ 285,750 $ 4,370,750 $ 142,875 $ 142,875 $
Note: Principal and interest is payable from the Special Tax Allocation Fund.
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Requirements Interest Due on
184
Village of Glenview, Illinois
Illinois Environmental Protection Agency Loan
Long-term Debt Requirements
December 31, 2015
Date of issue:October 1, 2010
Date of maturity:April 14, 2031
Authorized issue:633,827 $
Interest rates:0.00%
Principal maturity date:April 14 and October 14
Payable at:Illinois Environmental Protection Agency
Loan Number: L17-4483
Fiscal
Year
Ending
December 31 April 14 October 14 Total
2016 12,185 12,185 24,371
2017 12,185 12,185 24,371
2018 12,185 12,185 24,371
2019 12,185 12,185 24,371
2020 12,185 12,185 24,371
2021 12,185 12,185 24,371
2022 12,185 12,185 24,371
2023 12,185 12,185 24,371
2024 12,185 12,185 24,371
2025 12,185 12,185 24,371
2026 12,185 12,185 24,371
2027 12,185 12,185 24,371
2028 12,185 12,185 24,371
2029 12,185 12,185 24,371
2030 12,185 12,185 24,371
2031 12,185 - 12,185
194,966 $ 182,780 $ 377,746 $
Note: Principal will be paid by the Capital Projects Fund
Requirements
FUTURE PRINCIPAL REQUIREMENTS
185
Village of Glenview, Illinois
General Obligation Refunding Bond, Series 2012A
Long-term Debt Requirements
December 31, 2015
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 31 Principal Interest Total June 1 Amount December 1 Amount
2016 -$ 604,800 $ 604,800 $ 2016 302,400 $ 2016 302,400 $
2017 - 604,800 604,800 2017 302,400 2017 302,400
2018 - 604,800 604,800 2018 302,400 2018 302,400
2019 5,850,000 604,800 6,454,800 2019 302,400 2019 302,400
2020 6,030,000 429,300 6,459,300 2020 214,650 2020 214,650
2021 6,210,000 248,400 6,458,400 2021 124,200 2021 124,200
18,090,000 $ 3,096,900 $ 21,186,900 $ 1,548,450 $ 1,548,450 $
Note: Principal and interest is payable from the Special Tax Allocation Fund.
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Requirements Interest Due on
186
Village of Glenview, Illinois
General Obligation Refunding Bond, Series 2012B
Long-term Debt Requirements
December 31, 2015
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 31 Principal Interest Total June 1 Amount December 1 Amount
2016 1,245,000 $ 517,500 $ 1,762,500 $ 2016 258,750 $ 2016 258,750 $
2017 1,295,000 467,700 1,762,700 2017 233,850 2017 233,850
2018 1,365,000 415,900 1,780,900 2018 207,950 2018 207,950
2019 1,410,000 361,300 1,771,300 2019 180,650 2019 180,650
2020 1,475,000 304,900 1,779,900 2020 152,450 2020 152,450
2021 1,540,000 245,900 1,785,900 2021 122,950 2021 122,950
2022 1,605,000 184,300 1,789,300 2022 92,150 2022 92,150
2023 1,690,000 120,100 1,810,100 2023 60,050 2023 60,050
2024 1,750,000 52,500 1,802,500 2024 26,250 2024 26,250
13,375,000 $ 2,670,100 $ 16,045,100 $ 1,335,050 $ 1,335,050 $
Note: Principal and interest is payable from a property tax levy.
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Requirements Interest Due on
187
Village of Glenview, Illinois
General Obligation Refunding Bond, Series 2012C
Long-term Debt Requirements
December 31, 2015
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 31 Principal Interest Total June 1 Amount December 1 Amount
2016 1,540,000 $ 147,750 $ 1,687,750 $ 2016 73,875 $ 2016 73,875 $
2017 1,650,000 101,550 1,751,550 2017 50,775 2017 50,775
2018 1,735,000 52,050 1,787,050 2018 26,025 2018 26,025
4,925,000 $ 301,350 $ 5,226,350 $ 150,675 $ 150,675 $
Note: Principal and interest is payable from the Special Tax Allocation Fund.
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Requirements Interest Due on
188
Village of Glenview, Illinois
General Obligation Bonds, Series 2013A
Long-term Debt Requirements
December 31, 2015
Date of issue:December 19, 2013
Date of maturity:December 1, 2033
Authorized issue:6,065,000 $
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 31 Principal Interest Total June 1 Amount December 1 Amount
2016 245,000 $ 185,082 $ 430,082 $ 2016 92,541 $ 2016 92,541 $
2017 245,000 180,182 425,182 2017 90,091 2017 90,091
2018 250,000 175,282 425,282 2018 87,641 2018 87,641
2019 260,000 170,282 430,282 2019 85,141 2019 85,141
2020 265,000 165,082 430,082 2020 82,541 2020 82,541
2021 270,000 157,132 427,132 2021 78,566 2021 78,566
2022 280,000 149,032 429,032 2022 74,516 2022 74,516
2023 285,000 140,632 425,632 2023 70,316 2023 70,316
2024 295,000 132,082 427,082 2024 66,041 2024 66,041
2025 305,000 123,232 428,232 2025 61,616 2025 61,616
2026 315,000 113,626 428,626 2026 56,813 2026 56,813
2027 325,000 102,600 427,600 2027 51,300 2027 51,300
2028 340,000 89,600 429,600 2028 44,800 2028 44,800
2029 350,000 76,000 426,000 2029 38,000 2029 38,000
2030 365,000 62,000 427,000 2030 31,000 2030 31,000
2031 380,000 47,400 427,400 2031 23,700 2031 23,700
2032 395,000 32,200 427,200 2032 16,100 2032 16,100
2033 410,000 16,400 426,400 2033 8,200 2033 8,200
5,580,000 $ 2,117,846 $ 7,697,846 $ 1,058,923 $ 1,058,923 $
Note: Principal and interest will be paid by the Debt Service Fund via a transfer from the Corporate Fund.
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Requirements Interest Due on
189
Village of Glenview, Illinois
General Obligation Bonds, Series 2013B
Long-term Debt Requirements
December 31, 2015
Date of issue:December 19, 2013
Date of maturity:December 1, 2023
Authorized issue:4,385,000 $
Denomination of bonds:5,000 $
Interest rates:1.50% - 3.50%
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 31 Principal Interest Total June 1 Amount December 1 Amount
2016 -$ 116,082 $ 116,082 $ 2016 58,041 $ 2016 58,041 $
2017 585,000 116,082 701,082 2017 58,041 2017 58,041
2018 595,000 107,308 702,308 2018 53,654 2018 53,654
2019 605,000 95,408 700,408 2019 47,704 2019 47,704
2020 620,000 81,190 701,190 2020 40,595 2020 40,595
2021 640,000 64,450 704,450 2021 32,225 2021 32,225
2022 660,000 45,250 705,250 2022 22,625 2022 22,625
2023 680,000 23,800 703,800 2023 11,900 2023 11,900
4,385,000 $ 649,570 $ 5,034,570 $ 324,785 $ 324,785 $
Note: Principal and interest will be paid by the Waukegan/Golf TIF Fund
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Requirements Interest Due on
190
Village of Glenview, Illinois
5 Year Loan
Long-term Debt Requirements
December 31, 2015
Date of issue:December 1, 2014
Date of maturity:December 1, 2019
Authorized issue:6,529,688$
Interest rate:1.85%
Interest dates:June 1 and December 1
Principal maturity date:December 1
Payable at:Glenview State Bank
Fiscal
Year
Ending
December 31 Principal Interest Total June 1 Amount December 1 Amount
2016 1,305,938 $ 98,250 $ 1,404,188 $ 2016 49,125 $ 2016 49,125 $
2017 1,305,937 73,486 1,379,423 2017 36,642 2017 36,844
2018 1,305,938 48,991 1,354,929 2018 24,428 2018 24,563
2019 1,305,937 24,495 1,330,432 2019 12,214 2019 12,281
5,223,750 $ 245,222 $ 5,468,972 $ 122,409 $ 122,813 $
Note: Principal and interest will be paid by the Special Tax Allocation Fund.
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Requirements Interest Due on
191
Village of Glenview, Illinois
General Obligation Refunding Bond, Series 2015
Long-term Debt Requirements
December 31, 2015
Date of issue:July 30, 2015
Date of maturity:December 1, 2018
Authorized issue:10,000,000$
Denomination of bonds:5,000$
Interest rates:0.44% - 1.05%
Interest dates:June 1 and December 1
Principal maturity date:December 1
Payable at:Glenview State Bank
Fiscal
Year
Ending
December 31 Principal Interest Total June 1 Amount December 1 Amount
2016 2,505,000 $ 62,258 $ 2,567,258 $ 2016 31,129 $ 2016 31,129 $
2017 2,535,000 48,480 2,583,480 2017 24,240 2017 24,240
2018 2,565,000 26,932 2,591,932 2018 13,466 2018 13,466
7,605,000 $ 137,670 $ 7,742,670 $ 68,835 $ 68,835 $
Note: Principal and interest is payable from the Special Tax Allocation Fund.
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Requirements Interest Due on
192
Village of Glenview, Illinois
Combining Balance Sheet
Glenview Naval Air Station (GNAS) Redevelopment Area Funds
December 31, 2015
Special Revenue Capital Projects
Fund Fund Total
Special Glen GNAS
Tax Capital Redevelopment
Allocation Projects Area
Cash and cash equivalents 18,837,769 $ 1,100,853 $ 19,938,622 $
Investments - 4,728,979 4,728,979
Receivables, net of allowance
Other receivables 464,294 14 464,308
Prepaid items 30,851 - 30,851
Notes receivable 2,083,667 - 2,083,667
Total assets 21,416,581 $ 5,829,846 $ 27,246,427 $
Liabilities
Accounts payable 17,168,505 $ 72,271 $ 17,240,776 $
Accrued payroll 9,951 - 9,951
Other payables 552,200 82,184 634,384
Advances from other funds 15,227,345 - 15,227,345
Total liabilities 32,958,001 154,455 33,112,456
Fund balances (11,541,420) 5,675,391 (5,866,029)
Total liabilities and
fund balances 21,416,581 $ 5,829,846 $ 27,246,427 $
Assets
Liabilities and Fund Balances
193
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, 2015
Special Revenue Capital Projects
Fund Fund Total
Special Glen GNAS
Tax Capital Redevelopment
Allocation Projects Area
Revenues
Local taxes
Property taxes - incremental 30,479,916 $ -$ 30,479,916 $
Charges for services 24,945 - 24,945
Intergovernmental 41,356 - 41,356
Other revenues - 3,149 3,149
Investment income 130,933 874 131,807
Total revenues 30,677,150 4,023 30,681,173
Expenditures
Current
General government 20,874,482 - 20,874,482
Capital outlay - 429,465 429,465
Debt service
Bond issuance costs 20,250 - 20,250
Principal 16,510,938 - 16,510,938
Interest and fiscal charges 1,389,472 - 1,389,472
Total expenditures 38,795,142 429,465 39,224,607
Deficiency of revenues over expenditures (8,117,992) (425,442) (8,543,434)
Other financing sources (uses)
Proceeds from bond issuance 10,000,000 - 10,000,000
Transfers (out)(294,178) - (294,178)
Total other financing sources (uses)9,705,822 - 9,705,822
Net change in fund balances 1,587,830 (425,442) 1,162,388
Fund balances
Beginning (13,129,250) 6,100,833 (7,028,417)
Ending (11,541,420) $ 5,675,391 $ (5,866,029) $
194
Village of Glenview, Illinois
Index to Statistical Section
December 31, 2015
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. 195 - 204
Revenue Capacity
These schedules contain information to help the reader assess the Village's most
significant local revenue sources. 205 - 212
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. 213 - 216
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. 217 - 218
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. 219 - 224
Sources: Unless otherwise noted, the information in these schedules is derived from the comprehensive
annual financial reports for the relevant year.
195
Village of Glenview, Illinois
Net Position
Last Ten Fiscal Years
2006 2007 2008 2009
Governmental activities
Net investment in capital assets 95,946,179$ 83,298,383$ 78,477,141$ 87,607,488$
Restricted 53,518,524 54,229,537 49,074,532 39,881,012
Unrestricted 38,168,571 55,636,297 68,560,085 69,018,535
Total governmental activities 187,633,274$ 193,164,217$ 196,111,758$ 196,507,035$
Business-type activities
Net investment in capital assets 42,488,713$ 40,143,214$ 43,348,719$ 45,206,019$
Unrestricted 7,552,672 12,344,058 10,612,213 7,860,336
Total business-type activities 50,041,385$ 52,487,272$ 53,960,932$ 53,066,355$
Total primary government
Net investment in capital assets 138,434,892$ 123,441,597$ 121,825,860$ 132,813,507$
Restricted 53,518,524 54,229,537 49,074,532 39,881,012
Unrestricted 45,721,243 67,980,355 79,172,298 76,878,871
Total primary government 237,674,659$ 245,651,489$ 250,072,690$ 249,573,390$
Source: The Village of Glenview's Comprehensive Annual Financial Report
196
2010 2011 2012 2013 2014 2015
93,936,562$ 102,217,913$ 109,488,722$ 139,233,309$ 149,950,065$ 190,234,952$
29,923,363 23,711,651 45,978,154 11,484,242 2,407,413 2,194,487
66,754,133 68,927,169 42,720,345 50,861,602 (11,873,206) (11,596,195)
190,614,058$ 194,856,733$ 198,187,221$ 201,579,153$ 140,484,272$ 180,833,244$
51,450,402$ 55,566,298$ 56,331,598$ 58,075,392$ 60,891,686$ 55,002,443$
2,104,898 5,373,918 7,475,383 10,891,341 8,714,501 6,214,430
53,555,300$ 60,940,216$ 63,806,981$ 68,966,733$ 69,606,187$ 61,216,873$
145,386,964$ 157,784,211$ 165,820,320$ 197,308,701$ 210,841,751$ 245,237,395$
29,923,363 23,711,651 45,978,154 11,484,242 2,407,413 2,194,487
68,859,031 74,301,087 50,195,728 61,752,943 (3,158,705) (5,381,765)
244,169,358$ 255,796,949$ 261,994,202$ 270,545,886$ 210,090,459$ 242,050,117$
Fiscal Year
197
Village of Glenview, Illinois
Changes in Net Position
Last Ten Fiscal Years
2006 2007 2008 2009
Expenses
Governmental activities
General government 13,929,198 $ 24,038,572 $ 27,195,744 $ 29,780,621 $
Public safety 28,395,261 25,405,356 27,622,472 26,456,771
Highways and streets 27,582,335 21,897,066 - -
Public works - - 13,998,908 12,741,129
Development - - 7,306,324 8,467,340
Interest on long-term debt 4,813,795 6,751,793 6,068,865 6,001,886
Total governmental activities expenses 74,720,589 78,092,787 82,192,313 83,447,747
Business-type activities
Water services 8,168,894 8,241,841 8,254,541 7,733,048
North Maine water and sewer services 5,396,165 5,822,693 6,148,151 5,782,216
Sanitary sewer services 1,544,514 1,221,484 1,473,318 1,238,383
Wholesale water 1,146,800 1,675,442 1,110,176 1,074,812
Commuter parking 433,318 458,586 381,133 476,940
Total business-type activities expenses 16,689,691 17,420,046 17,367,319 16,305,399
Total primary gvernment expenses 91,410,280 $ 95,512,833 $ 99,559,632 $ 99,753,146 $
Program revenues
Governmental activities
Charges for services
General government 10,124,924 $ 5,088,121 $ 3,230,320 $ 2,324,730 $
Public safety 4,059,578 4,104,495 4,076,188 5,274,319
Public works - - - -
Development - - 2,020,840 3,218,677
Operating grants and contributions 1,576,594 2,644,741 1,401,777 1,172,899
Capital grants and contributions 702,691 1,473,479 - 1,267,384
Total governmental activities program revenues 16,463,787 13,310,836 10,729,125 13,258,009
Business-type activities
Charges for services - water and sewer
Water services 7,654,017 8,251,413 8,135,293 8,370,780
North Maine water and sewer services 5,928,523 6,418,577 6,824,636 7,206,186
Sanitary sewer services 1,430,401 1,762,694 1,570,372 1,831,857
Wholesale water 1,692,776 1,522,626 1,863,483 1,782,495
Commuter parking 415,687 484,393 466,356 529,886
Operating grants and contributions - - - -
Capital grants and contributions - 73,908 - -
Total business-type activities
program revenues 17,121,404 18,513,611 18,860,140 19,721,204
Total primary government program revenues 33,585,191 $ 31,824,447 $ 29,589,265 $ 32,979,213 $
Net (expense) revenue
Governmental activities (58,256,802) $ (64,781,951) $ (71,463,188) $ (70,189,738) $
Business-type activities 431,713 1,093,565 1,492,821 3,415,805
Total primary government net (expense) revenue (57,825,089) $ (63,688,386) $ (69,970,367) $ (66,773,933) $
198
2010 2011 2012 2013 2014 2015
32,335,971 $ 33,989,230 $ 40,172,192 $ 38,505,592 $ 36,586,774 $ 34,403,572 $
30,475,113 25,769,097 27,145,548 27,152,669 23,105,414 20,638,161
- - - - - -
13,981,277 8,581,360 6,670,428 7,743,333 22,535,067 26,550,936
12,198,120 10,029,890 6,421,304 14,486,953 11,829,052 5,107,156
4,085,152 3,353,913 2,984,565 2,547,042 2,231,704 2,087,567
93,075,633 81,723,490 83,394,037 90,435,589 96,288,011 88,787,392
9,265,407 8,795,466 10,339,739 9,880,585 10,634,065 15,164,208
6,267,880 6,197,752 7,399,749 7,399,181 7,547,458 14,915,126
1,948,357 1,801,454 1,729,509 1,789,883 2,051,642 2,034,331
1,083,206 1,119,994 1,157,835 1,129,077 1,064,737 1,172,689
383,196 386,244 449,674 364,679 409,584 487,345
18,948,046 18,300,910 21,076,506 20,563,405 21,707,486 33,773,699
112,023,679 $ 100,024,400 $ 104,470,543 $ 110,998,994 $ 117,995,497 $ 122,561,091 $
3,931,687 $ 3,854,148 $ 3,564,720 $ 7,242,189 $ 7,090,956 $ 6,776,652 $
5,345,151 5,195,936 4,967,056 5,339,032 7,789,777 8,017,412
- - 945,812 945,521 945,106 1,011,433
3,993,971 2,015,239 850,749 469,771 817,593 137,783
1,662,479 1,832,805 1,960,093 1,875,489 2,079,987 1,740,265
2,362,508 2,439,618 746,987 203,909 5,162,690 18,639,549
17,295,796 15,337,746 13,035,417 16,075,911 23,886,109 36,323,094
9,045,480 9,751,605 11,351,729 11,213,172 11,431,761 12,738,153
7,473,673 8,120,035 8,229,828 8,611,294 8,068,712 2,549,981
2,114,548 2,314,028 2,523,022 2,355,451 2,263,025 2,523,041
1,997,367 2,156,636 2,063,759 2,190,544 1,891,731 1,996,831
524,244 525,991 526,212 570,670 615,754 619,764
- 27,854 - - - -
- - - - - -
21,155,312 22,896,149 24,694,550 24,941,131 24,270,983 20,427,770
38,451,108 $ 38,233,895 $ 37,729,967 $ 41,017,042 $ 48,157,092 $ 56,750,864 $
(75,779,837) $ (66,385,744) $ (70,358,620) $ (74,359,678) $ (72,401,902) $ (52,464,298) $
2,207,266 4,595,239 3,618,044 4,377,726 2,563,497 (13,345,929)
(73,572,571) $ (61,790,505) $ (66,740,576) $ (69,981,952) $ (69,838,405) $ (65,810,227) $
Fiscal Year
199
Village of Glenview, Illinois
Changes in Net Position (Continued)
Last Ten Fiscal Years
2006 2007 2008 2009
General revenues and other changes in net position
Governmental activities
Taxes
Property taxes 31,368,247 $ 29,533,794 $ 37,030,734 $ 33,863,907 $
Other taxes 7,674,636 7,938,804 7,213,927 12,659,075
Sales taxes 17,797,774 18,238,196 18,649,183 11,943,633
Income taxes 3,342,154 3,933,680 4,207,152 3,612,282
Intergovernmental 801,157 959,789 1,486,645 2,519,306
Investment income 3,553,730 7,202,556 2,234,453 975,360
Miscellaneous 271,124 2,473,480 3,301,455 611,793
Gain on sale of capital assets 18,899,176 467,801 - -
Transfers (4,697,121) (989,499) 287,180 4,399,659
Contributions - - - -
Total governmental activities 79,010,877 69,758,601 74,410,729 70,585,015
Business-type activities
Investment income 427,441 351,186 232,871 60,349
Miscellaneous 18,166 33,313 35,148 28,928
Gain (loss) on sale of capital assets (48,424) (21,676) - -
Gain (loss) on legal settlement - - - -
Transfers 4,697,721 989,499 (287,180) (4,399,659)
Total Business-type activities 5,094,904 1,352,322 (19,161) (4,310,382)
Total primary government 84,105,781 $ 71,110,923 $ 74,391,568 $ 66,274,633 $
Change in net position
Governmental activities 20,753,475 $ 4,977,650 $ 2,947,541 $ 395,277 $
Business-type activities 5,526,617 2,445,887 1,473,660 (894,577)
Total primary government change in net position 26,280,092 $ 7,423,537 $ 4,421,201 $ (499,300) $
Source: The Village of Glenview's Comprehensive Annual Financial Report.
200
2010 2011 2012 2013 2014 2015
34,759,914 $ 40,146,639 $ 37,275,705 $ 37,383,036 $ 40,785,102 $ 41,564,097 $
12,962,485 13,257,071 13,495,498 13,944,053 14,406,764 14,460,977
12,336,353 12,792,723 13,091,218 13,833,697 14,972,367 15,635,705
3,497,759 3,823,315 3,962,313 4,309,714 4,232,425 4,832,506
2,772,575 2,502,500 2,614,374 2,739,777 2,839,239 2,950,181
731,839 397,478 860,108 785,925 1,407,626 667,765
470,187 464,084 1,562,876 4,104,857 1,703,769 1,701,143
- - - - - -
1,777,004 (2,755,391) 827,016 822,322 1,313,328 11,000,896
- - - - - -
69,308,116 70,628,419 73,689,108 77,923,381 81,660,620 92,813,270
24,419 26,807 33,790 27,046 (153,614) 15,093
(18,808) 7,479 41,947 6,290 21,553 15,942,418
- - - - - -
- - - 1,571,012 - -
(1,723,932) 2,755,391 (827,016) (822,322) (1,313,328) (11,000,896)
(1,718,321) 2,789,677 (751,279) 782,026 (1,445,389) 4,956,615
67,589,795 $ 73,418,096 $ 72,937,829 $ 78,705,407 $ 80,215,231 $ 97,769,885 $
(6,471,721) $ 4,242,675 $ 3,330,488 $ 3,563,703 $ 9,258,718 $ 40,348,972 $
488,945 7,384,916 2,866,765 5,159,752 1,118,108 (8,389,314)
(5,982,776) $ 11,627,591 $ 6,197,253 $ 8,723,455 $ 10,376,826 $ 31,959,658 $
Fiscal Year
201
Village of Glenview, Illinois
Fund Balances of Governmental Funds
Last Ten Fiscal Years
2006 2007 2008 2009
General Fund
Reserved 250,974 $ 202,583 $ 236,776 $ 82,583 $
Unreserved 23,543,445 18,625,051 15,965,220 20,044,782
Nonspendable - - - -
Committed - - - -
Assigned - - - -
Unassigned - - - -
Total General Fund 23,794,419 18,827,634 16,201,996 20,127,365
All other governmental funds
Reserved 68,100,595 70,662,782 66,882,660 59,293,215
Unreserved, reported in
Special revenue funds 3,098,776 (2,172,942) 1,495,858 1,832,064
Capital project funds 37,589 (33,701) 14,453,200 10,053,987
Debt service funds 13,962,128 14,513,477 (77,170) 15,676
Nonspendable - - - -
Restricted - - - -
Assigned - - - -
Unassigned - - - -
Total all other governmental
funds 85,199,088 82,969,616 82,754,548 71,194,942
Total fund balances -
governmental funds 108,993,507 $ 101,797,250 $ 98,956,544 $ 91,322,307 $
Source: The Village of Glenview's Comprehensive Annual Financial Report.
The Village implemented GASB Statement No. 54 in 2011
202
2010 2011 2012 2013 2014 2015
82,583 $ -$ -$ -$ -$ -$
21,994,901 - - - - -
- 131,424 195,280 87,738 176,110 499,800
- - - 1,700,000 850,000 -
- - - 3,208,020 5,364,276 -
- 24,086,602 25,564,806 26,823,063 24,306,476 25,739,072
22,077,484 24,218,026 25,760,086 31,818,821 30,696,862 26,238,872
49,720,439 - - - - -
(921,028) - - - - -
10,057,895 - - - - -
30,942 - - - - -
- - 64,508 53,289 42,070 30,851
- 52,257,800 45,978,154 11,484,242 2,407,413 2,194,487
- - - 42,275,455 31,933,727 34,155,883
- - - - (13,171,320) (11,572,271)
58,888,248 52,257,800 46,042,662 53,812,986 21,211,890 24,808,950
80,965,732 $ 76,475,826 $ 71,802,748 $ 85,631,807 $ 51,908,752 $ 51,047,822 $
Fiscal Year
203
Village of Glenview, Illinois
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
2006 2007 2008 2009
Revenues
Taxes 40,230,230 $ 40,995,097 $ 49,775,754 $ 46,522,982 $
Intergovernmental 25,820,915 26,398,055 23,994,061 23,236,550
Charges for services 3,125,289 3,347,415 3,879,939 5,787,188
Licenses and permits 1,444,631 1,317,359 1,492,506 2,441,730
Fines and forfeitures 223,430 242,596 174,506 189,433
Investment income 3,766,390 6,139,481 2,234,453 975,370
Miscellaneous
Land sales 18,899,176 1,003,082 3,126,283 -
Other 732,406 1,892,301 175,172 46,804
Total revenues 94,242,467 81,335,386 84,852,674 79,200,057
Expenditures
General government 23,179,532 24,981,918 26,494,899 27,133,683
Public safety 23,480,423 25,418,302 26,685,166 25,745,800
Highways and streets 9,257,360 12,229,547 - -
Public works - - 7,656,205 7,918,533
Development - - 3,892,684 6,058,864
Debt service
Principal 9,490,000 9,885,000 9,335,000 9,660,000
Interest and fiscal charges 5,764,058 6,678,361 6,011,806 5,304,081
Bond issuance costs 110,099 - - 37,153
Capital outlay 18,451,941 8,918,984 9,593,304 8,858,147
Miscellaneous - - - -
Total expenditures 89,733,413 88,112,112 89,669,064 90,716,261
Excess of revenues over (under)
expenditures 4,509,054 (6,776,726) (4,816,390) (11,516,204)
Other financing sources (uses)
Transfers in 32,556,673 34,081,992 20,474,754 19,116,695
Transfers out (37,162,062) (35,071,491) (18,499,070) (15,420,632)
Bonds issued 37,940,000 - - 39,838,247
Discounts on bonds issued (87,732) - - -
Premium on bonds issued 11,371 - - -
Payment to escrow agent - - - (39,652,343)
Proceeds from capital lease - - - -
Sale of capital assets 5,035 15,675 - -
Total other financing sources (uses)33,263,285 (973,824) 1,975,684 3,881,967
Net change in fund balances 37,772,339 $ (7,750,550) $ (2,840,706) $ (7,634,237) $
Debt service as a percentage of
noncapital expenditures 0.1828 0.2092 0.1787 0.1833
Source: The Village of Glenview's Comprehensive Annual Financial Report.
204
2010 2011 2012 2013 2014 2015
47,721,989 $ 53,403,710 $ 50,771,203 $ 51,327,089 $ 55,191,866 $ 56,025,074 $
25,493,952 26,342,403 24,796,132 25,747,882 28,843,610 47,874,058
6,892,913 6,111,175 6,519,625 8,082,885 9,789,188 11,784,003
3,190,826 1,859,161 1,923,238 4,461,768 5,103,571 3,208,298
134,783 181,361 224,198 228,419 255,899 164,673
731,839 397,478 422,751 341,472 399,971 306,361
- - - - - -
219,046 205,014 709,998 486,493 796,354 120,603
84,385,348 88,500,302 85,367,145 90,676,008 100,380,459 119,483,070
29,090,926 31,153,019 38,411,652 35,582,816 36,391,244 38,168,909
27,884,435 25,710,435 26,369,673 26,687,294 27,212,096 28,421,350
- - - - - -
7,811,605 7,883,609 7,036,995 7,489,675 9,523,902 9,260,772
5,723,642 4,293,220 1,261,328 1,016,437 4,078,982 3,947,132
9,740,000 10,051,617 8,208,235 30,983,776 32,364,371 17,975,309
4,246,896 3,762,159 3,279,464 2,761,174 2,388,883 2,263,186
- 38,818 139,044 61,176 - 20,250
12,030,923 8,336,649 6,060,977 8,253,623 34,631,202 43,130,127
- - - - - -
96,528,427 91,229,526 90,767,368 112,835,971 146,590,680 143,187,035
(12,143,079) (2,729,224) (5,400,223) (22,159,963) (46,210,221) (23,703,965)
15,678,978 31,368,232 6,281,471 13,052,864 16,557,993 33,455,261
(13,901,974) (33,163,914) (5,702,833) (11,837,724) (12,684,506) (21,593,677)
- 11,035,000 40,395,000 38,575,000 6,529,688 10,000,000
- - - (11,539) - -
- - 4,432,391 69,535 - -
- (11,000,000) (44,678,884) - - -
- - - - - 981,451
9,500 - - (3,859,114) 2,083,991 -
1,786,504 (1,760,682) 727,145 35,989,022 12,487,166 22,843,035
(10,356,575) $ (4,489,906) $ (4,673,078) $ 13,829,059 $ (33,723,055) $ (860,930) $
0.1655 0.1571 0.1328 0.3121 0.2834 0.2089
Fiscal Year
205
Village of Glenview, Illinois
Assessed Value and Actual Value of Taxable Property
Last Ten Levy Years
Levy Residential Commercial Industrial
Year Property Property Property Railroad Farm
2005 1,753,091,650 $ 507,205,734 $ 255,723,046 $ 184,075 $ 589$
2006 1,478,823,650 477,703,360 213,822,559 184,075 589
2007 1,878,422,371 572,300,107 242,310,888 202,163 589
2008 2,026,139,779 638,159,198 248,243,038 221,084 589
2009 2,198,443,085 595,701,792 207,259,989 266,417 368
2010 2,298,836,300 388,196,316 27,515,890 333,270 368
2011 1,763,765,871 499,476,841 184,570,112 354,177 -
2012 1,637,952,132 481,487,771 171,866,548 400,750 -
2013 1,409,769,224 450,231,431 165,239,212 495,230 -
2014 1,528,673,674 432,810,794 86,468,650 516,425 -
Data Source
Office of the County Clerk
Note : Property in the Village is reassesed each year. Property is assessed at 33% of actual value.
206
Total Estimated Estimated
Total Taxable Direct Actual Actual
Assessed Tax Taxable Taxable
Value Rate Value Value
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 3.5 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 4.56 7,344,501,003 33.333%
2,291,707,201 4.82 6,875,121,603 33.333%
2,025,735,097 5.53 6,077,205,291 33.333%
2,048,469,543 5.54 6,145,408,629 33.333%
207
Village of Glenview, Illinois
Direct and Overlapping Property Tax Rates
Last Ten Levy Years
2005 2006 2007 2008
Village of Glenview
Corporate 0.252 0.184 0.184 0.174
Bonds and interest 0.074 0.099 0.072 0.068
Police pension 0.045 0.060 0.049 0.040
Fire pension 0.051 0.072 0.064 0.068
Total direct tax rate 0.422 0.415 0.369 0.350
Glenview Public Library 0.249 0.246 0.149 0.195
Glenview Special Service Area #9 0.402 0.284 0.227 0.200
Glenview Special Service Area #10 0.421 0.293 0.238 0.209
Glenview Special Service Area #11 0.160 0.160 0.127 0.175
Glenview Special Service Area #12 0.252 0.242 0.172 0.159
Glenview Special Service Area #17 0.317 0.324 0.192 0.192
Glenview Special Service Area #18 0.363 0.363 0.269 0.242
Glenview Special Service Area #20 0.219 0.217 0.180 0.160
Glenview Special Service Area #22 0.196 0.193 0.137 0.129
Glenview Special Service Area #24 0.507 - - -
Glenview Special Service Area #27 - - - -
Glenview Special Service Area #31 - - - -
Glenview Special Service Area #32 0.081 0.082 0.075 0.068
Glenview Special Service Area #33 0.427 0.440 0.349 0.308
Glenview Special Service Area #35 0.284 0.292 0.243 0.207
Glenview Special Service Area #36 0.200 0.191 0.143 0.127
Glenview Special Service Area #37 0.176 0.163 0.122 0.118
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 - - - -
208
2009 2010 2011 2012 2013 2014
0.148 0.162 0.177 0.188 0.203 0.176
0.068 0.076 0.084 0.083 0.095 0.091
0.060 0.065 0.074 0.073 0.098 0.098
0.085 0.105 0.120 0.139 0.157 0.188
0.361 0.408 0.455 0.482 0.553 0.553
0.210 0.253 0.303 0.347 0.396 0.394
0.093 - - - - -
0.100 - - - - -
- - - - - -
- - - - - -
0.177 0.210 0.115 - - -
0.221 0.280 0.148 - - -
0.155 0.165 - - - -
0.117 0.142 - - - -
- - - - - -
- - - - - -
- - - - - -
0.073 0.074 0.082 0.087 0.066 -
0.287 0.333 0.370 0.391 0.422 -
0.204 0.223 0.233 0.248 0.344 0.328
0.108 0.138 0.153 0.162 0.181 -
0.102 0.117 0.133 0.141 0.159 -
- 0.844 0.894 0.854 1.250 1.210
- - 0.079 0.085 0.094 0.094
- - 0.079 0.086 0.094 0.079
- 0.406 0.440 0.470 0.586 0.575
- - 0.122 0.130 0.138 0.138
- - 0.168 0.191 0.221 0.212
- - 0.444 0.446 0.477 0.467
- - 0.598 0.550 0.553 0.581
- 0.546 0.568 0.605 0.775 0.713
- - 0.241 0.261 0.312 0.312
- - 0.130 0.140 0.153 0.150
- - 0.279 0.297 0.354 0.349
- - 0.141 0.151 0.170 0.168
- - 1.035 1.206 1.296 1.263
- - 0.695 0.739 0.796 0.751
- 0.423 0.410 0.378 0.430 0.379
- 0.903 0.971 1.022 1.185 1.090
- 0.538 0.566 0.586 0.677 0.668
- - 0.188 0.201 0.232 0.228
0.165 0.213 0.228 0.239 0.280 0.272
0.183 0.232 0.245 0.257 0.273 0.271
(Continued)
Tax Levy Year
209
Village of Glenview, Illinois
Direct and Overlapping Property Tax Rates (Continued)
Last Ten Levy Years
2005 2006 2007 2008
Avoca School District #37 1.934 2.008 1.594 1.755
County Consolidated Elections 0.014 - 0.012 -
County of Cook 0.533 0.500 0.446 0.415
East Maine School District #63 2.542 2.617 2.276 2.233
Forest Preserve District 0.060 0.057 0.053 0.051
Glenview Park District 0.490 0.511 0.429 0.429
Glenview School District #34 2.259 2.334 1.953 1.909
Golf School District #67 2.041 2.094 1.859 1.807
Maine High School #207 1.757 1.826 1.602 1.577
Maine Township - General 0.070 0.073 0.065 0.064
Maine Township - General Assistance 0.015 0.016 0.002 0.015
Maine Township - Road and Bridge 0.036 0.038 0.034 0.033
Metropolitan Water Reclamation Dist.0.315 0.284 0.263 0.252
New Trier High School #203 1.577 1.662 1.299 1.290
New Trier Township - General 0.037 0.073 0.031 0.031
New Trier Township - General Assistance 0.002 0.003 0.003 0.003
Niles High School #219 2.007 2.374 2.114 2.120
Niles Township - General 0.029 0.031 0.027 0.027
Niles Township - General Assistance 0.002 0.003 0.003 0.003
North Shore Mosquito Abatement 0.008 0.009 0.008 0.008
Northbrook School District #30 2.331 2.471 2.138 2.089
Northfield High School #225 1.475 1.623 1.403 1.383
Northfield Township - General 0.011 0.011 0.010 0.009
Oakton Community College #535 0.158 0.166 0.141 0.140
Suburban T.B. Sanitarium 0.005 0.005 - -
West Northfield School District #31 1.542 1.624 1.405 1.402
Wilmette School District #39 2.151 2.261 1.848 1.812
Northfield Township - Road and Bridge 0.033 0.035 0.030 0.030
Northfield Township - General Assistance 0.008 0.008 0.008 0.009
Northfield Woods Sanitary District 0.053 0.056 0.049 0.049
North Maine Fire Protection District 0.785 0.914 0.882 0.986
Northbrook Park District 0.385 0.406 0.342 0.332
Oak Meadow Sanitary District 0.045 0.045 0.004 0.037
Northwest Mosquito Abatement 0.009 0.009 0.008 0.008
Data Source
Office of the County Clerk
*Property tax rates are per $100 of assessed valuation
210
2009 2010 2011 2012 2013 2014
1.698 2.022 2.281 2.557 2.762 2.957
0.021 - 0.025 - 0.031 -
0.394 0.423 0.462 0.531 0.560 0.568
2.235 2.499 2.775 3.100 3.864 3.811
0.049 0.051 0.058 0.063 0.069 0.069
0.422 0.483 0.538 0.579 0.662 0.661
1.876 2.160 2.429 2.706 3.129 3.173
1.943 2.203 2.449 2.961 3.497 3.427
1.617 1.782 1.995 2.215 2.722 2.739
0.067 0.075 0.085 0.096 0.120 0.119
0.016 0.018 0.021 0.023 0.029 0.029
0.034 0.038 0.043 0.049 0.061 0.062
0.261 0.274 0.320 0.370 0.417 0.430
1.237 1.474 1.674 1.864 2.111 2.268
0.030 0.037 0.042 0.047 0.054 0.055
0.003 0.004 0.005 0.006 0.007 0.007
2.267 2.538 2.904 3.256 3.707 3.650
0.029 0.032 0.037 0.042 0.049 0.050
0.003 0.004 0.005 0.006 0.007 0.007
0.008 0.009 0.010 0.010 0.007 0.011
2.089 2.327 2.641 2.999 3.381 3.272
1.395 1.609 1.819 2.028 2.341 2.367
0.010 0.013 0.020 0.024 0.031 0.032
0.140 0.160 0.196 0.219 0.256 0.258
- - - - - -
1.494 1.730 2.018 2.525 2.946 2.911
1.716 2.314 2.620 2.922 3.229 3.356
0.031 0.036 0.041 0.046 0.053 0.054
0.010 0.011 0.008 0.009 0.008 0.007
0.054 0.067 0.079 0.082 0.098 0.099
1.112 1.254 1.366 1.452 1.814 1.815
0.334 0.375 0.424 0.471 0.536 0.537
0.038 0.045 0.051 0.056 0.066 0.067
0.008 0.009 0.010 0.011 0.013 0.013
Tax Levy Year
211
Village of Glenview, Illinois
Percentage Percentage
of Total of Total
Village Village
Taxable Taxable Taxable Taxable
Assessed Assessed Assessed Assessed
Taxpayer Value Rank Valuation Value Rank Valuation
ITW 19,556,608 $ 5 0.90% 30,670,289 $ 1 1.50%
CLF (formerly Grubb & Ellis) 28,098,453 2 1.37%
Oliver McMillan LLC 24,732,855 3 1.21%
Astella US Holdings 19,371,092 4 0.95%
Mid America Asset 19,239,403 5 0.94%
Northshore University 14,555,149 6 0.71%
Abt Electronics 14,289,124 7 0.70%
Anixter, Inc. 13,691,828 8 0.67%
Thomson Reuters Pts
(formerly Cole Real Estate) 12,832,898 9 0.63%
AGF Sanders Office 12,479,920 10 0.61%
Kraft USA 46,537,310 1 2.10%
Jewel Property LLC 28,152,398 2 1.20%
Mid American Asset 25,447,779 3 1.10%
Catellus Development 24,125,930 4 1.10%
Pearson Tax Dept. 14,559,528 6 0.60%
CC Lake, Inc. 13,418,374 7 0.60%
Bay Hospitality 12,723,953 8 0.60%
Heatherfield Cen LLC 12,667,213 9 0.60%
Von Maur Inc 11,485,621 10 0.50%
208,674,714 $ 9.30% 189,961,011 $ 9.29%
Principal Property Taxpayers
Current Year and Ten Years Ago
2005 2015
212
Village of Glenview, Illinois
Property Tax Levies and Collections
Last Ten Tax Levy Years
Property Subsequent
Levy Fiscal Taxes Taxes Percentage Year Taxes Percentage
Year Year Levied Received of Levy Collections Received of Levy
2005 2006 14,322,402$ 11,957,340$ 83.49%2,112,389$ 14,069,729$ 98.24%
2006 2007 14,322,403 12,857,920 89.77%1,258,740 14,116,660 98.56%
2007 2008 13,919,457 13,398,159 96.25%128,078 13,526,237 97.18%
2008 2009 15,858,539 15,345,443 96.76%141,829 15,487,272 97.66%
2009 2010 17,136,858 16,810,757 98.10%(78,896) 16,731,861 97.64%
2010 2011 17,919,376 17,269,565 96.37%323,978 17,593,543 98.18%
2011 2012 18,561,309 18,202,205 98.07%153,361 18,355,566 98.89%
2012 2013 18,977,508 18,647,991 98.26%267,838 18,915,829 99.67%
2013 2014 19,213,934 18,997,309 98.87%209,653 19,206,962 99.96%
2014 2015 19,401,830 19,017,834 98.02%- 19,017,834 98.02%
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
213
Village of Glenview, Illinois
Ratios of Outstanding Debt by Type
Last Ten Fiscal Years
Governmental Activities Business-Type Activities Percentage Total
Fiscal General Special General of Outstanding
Year Obligation Loans Service Obligation Notes Total Personal Debt Per
Ended Bonds Payable Area Bonds Payable Village Income* Capita*
2005 119,275,000$ -$ 85,503$ 6,699,933$ 2,139,824$ 128,200,260$ 6.65%2,884
2006 147,725,000 - 75,696 6,479,304 2,030,203 156,310,203 8.07%3,500
2007 137,840,000 - 65,713 12,099,287 1,915,164 151,920,164 7.84%3,402
2008 128,505,000 - - 10,889,470 1,794,439 141,188,909 7.32%3,177
2009 118,865,000 - - 9,629,897 1,667,748 130,162,645 6.75%2,996
2010 109,125,000 - - 4,750,000 1,534,796 115,409,796 4.96%2,582
2011 99,115,000 - - 3,860,000 1,395,273 104,370,273 4.39%2,335
2012 89,415,000 - - 2,950,000 1,248,854 93,613,854 4.03%2,095
2013 72,742,817 28,551,488 - 2,248,585 1,095,199 104,638,089 4.51%2,341
2014 68,093,601 6,931,805 - 1,515,810 933,950 77,475,166 3.32%1,734
2015 60,984,345 5,601,496 - 767,957 3,003,592 70,357,390 3.01%1,549
Source: The Village of Glenview's Comprehensive Annual Financial Report.
* Additional demographic information is available in the schedule of Demographic and Economic Statistics .
214
Village of Glenview, Illinois
Ratios of General Bonded Debt Outstanding
Last Ten Fiscal Years
Percentage of
Assessed
General Less Taxable Debt
Fiscal Obligation Debt Value of Per
Year Bonds Service Funds Total Property (1) Capita (2)
2005 125,974,933$ 2,075,383$ 123,899,550$ 7.08%3,540 $
2006 154,204,304 4,643,867 149,560,437 6.89%4,273
2007 149,939,287 2,870,654 147,068,633 5.46%4,202
2008 139,394,470 1,649,841 137,744,629 4.73%3,099
2009 128,494,897 15,676 128,479,221 4.28%2,890
2010 113,875,000 - 113,875,000 3.79%2,548
2011 102,975,000 - 102,975,000 3.79%2,304
2012 92,365,000 - 92,365,000 3.77%2,067
2013 74,991,402 - 74,991,402 3.27%1,566
2014 69,609,411 - 69,609,411 3.44%1,558
2015 61,752,302 - 61,752,302 3.01%1,360
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.
215
Village of Glenview, Illinois
Direct and Overlapping Governmental Activities Debt
As of December 31, 2015
Percentage Village of
Debt Applicable Glenview
to the Village of Share
Governmental unit Debt Glenview (1) of Debt
Direct bonded debt
Village of Glenview 61,752,302 $ 100.00%61,752,302 $
Overlapping Bonded Debt
Glenview Special Service Areas 329,706 100.00%329,706
Glenview Park District 11,250,000 84.84%9,544,500
Northbrook Park District 1,565,000 0.24%3,756
Cook County, including Forest Preserve District 3,474,771,750 1.60%55,596,348
Metropolitan Water Reclamation District 2,493,400,742 1.60%39,894,412
School Districts
Elementary School Districts
Avoca School District No. 37 3,727,093 8.13%303,013
East Maine School District No. 63 11,335,000 4.21%477,204
Glenview School District No. 34 16,835,000 89.54%15,074,059
Golf School District No. 67 11,290,470 8.33%940,496
Northbrook School District No. 30 - 32.64%-
West Northfield School District No. 31 4,350,000 47.14%2,050,590
Wilmette School District No. 39 12,425,000 4.75%590,188
High School Districts
Maine Township District No. 207 8,570,000 1.00%85,700
New Trier Township District No. 203 104,109,313 2.31%2,404,925
Niles Township District No. 219 139,728,954 0.63%880,292
Northfield Township District No. 225 74,015,378 41.37%30,620,162
Community College District
Oakton Community College No. 535 32,175,000 10.67%3,433,073
Total overlapping bonded debt 6,399,878,406 162,228,423
Total direct and overlapping bonded debt 6,461,630,708 $ 223,980,725 $
Source: Cook County Clerk as of 12/31/14
(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 2013
real property valuations.
216
Village of Glenview, Illinois
Legal Debt Margin Information
As of December 31, 2015
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.
217
Village of Glenview, Illinois
Per
Personal Capita
Fiscal Income Personal Unemployment
Year Population (in Thousands)Income Rate
2006 44,443 1,928,115 $ 43,384 $ 2.9%
2007 44,443 1,928,115 43,384 3.1%
2008 44,443 1,928,115 43,384 4.2%
2009 44,443 1,928,115 43,384 6.9%
2010 44,692 2,331,179 52,161 6.8%
2011 44,692 2,379,670 53,246 6.8%
2012 44,692 2,321,883 51,953 6.2%
2013 44,692 2,334,129 52,227 6.3%
2014 45,417 2,336,932 51,455 6.1%
2015 45,400 2,375,600 52,326 4.4%
Source:
Population information provided by the U.S. Census Bureau
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
218
Village of Glenview, Illinois
% of % of
Number of Total Village Number of Total Village
Employer Rank Employees Population Rank Employees Population
Abt Electronics 1 1,160 2.56%1 2,100 5.66%
Astellas 2 1,150 2.53%
Glenbrook Hospital 3 1,099 2.42%4 600 1.62%
Anixter, Inc.4 850 1.87%
Glenview Comm. School Dist 34 5 739 1.63%6 400 1.08%
ITW/Signode 6 553 1.22%2 1,200 3.24%
Kraft Foods Technology Center 7 550 1.21%
Glenbrook South High School 8 429 0.94%8 330 0.89%
Signode 9 390 0.86%
Glenview Terrace Nursing Home 10 375 0.83%
Zenith Electronics 3 900 2.43%
Scott Foresman (Pearson)5 475 1.28%
Avon Products 7 369 0.99%
Guarantee Trust Life Ins 9 310 0.84%
Omni-Circuits, Inc.10 280 0.75%
16.07%18.78%
Source: Illinois Manufacturers Services Directory, Illinois Services Directory and Employer Contact
Principal Employers
Current Year and Ten Years Ago
2015 2005
219
Village of Glenview, Illinois
Full-Time Equivalent Employees
Last Ten Fiscal Years
Function/Program 2006 2007 2008 2009
General Government
Management services (1)12 12 13 10
Finance 16 16 - -
Administrative services (1)- - 22 14
Planning and economic (2)
development (1)- - 32 21
Planning 2 2 - -
Code enforcement 16 16 - -
Community development (3)14 14 - -
Capital projects (3)- - 17 13
Total general government 60 60 84 58
Public safety
Police
Officers 78 78 77 74
Civilians 18 18 19 18
Fire
Firefighters and officers 85 85 84 82
Civilians 11 11 - -
Joint dispatch - - 15 20
Total public safety 192 192 195 194
Public works
Administration 6 6 6 6
Engineering 8 8 - -
Facilities maintenance (4)- - - -
Street maintenance 45 45 22 21
Water maintenance 21 21 29 28
Fleet maintenance - - 6 6
Natural resources - - 2 1
Total public works 80 80 65 62
Total full-time equivalent
employees 332 332 344 314
(1)Records division previously included in Management Services is included in Administrative Services as of 2015.
(2) Planning and Economic Development, previously its own department, is included in Community Development
as of 2014.
(3) Capital Projects is renamed Community Development as of 2014.
(4) Facilities division previously included in Capital Projects is included in Public Works as of 2014.
Data source: Village Budget Office
220
2010 2011 2012 2013 2014 2015
10 11 15 15 15 9
- - - - - -
16 13 13 12 13 16
- -
23 5 5 5 - -
- - - - - -
- - - - - -
- - - - 21 20
11 25 25 20 - -
60 54 58 52 49 45
73 71 70 70 70 70
17 16 12 12 11 5
84 80 80 80 80 80
2 2 2 2 1 1
20 19 21 27 40 40
196 188 185 191 202 196
4 6 6 6 6 5
- - - - - -
- - - - 4 4
21 20 21 21 21 21
29 21 18 19 19 16
5 3 4 4 4 4
1 1 1 1 1 1
60 51 50 50 55 51
316 293 293 293 306 292
221
Village of Glenview, Illinois
Operating Indicators
Last Ten Fiscal Years
Function/Program 2006 2007 2008 2009
Public Safety
Police
Physical arrests 976 1,003 1,677 1,475
Parking violations 2,695 2,206 2,962 3,518
Traffic violations 6,266 5,800 4,101 3,024
Fire
Emergency responses
Emergency medical 4,487 4,707 4,873 4,588
Other responses 2,734 3,148 2,885 2,561
Fires extinguished 93 100 - -
Fires extinguished (structures)- - 39 11
Public works
Pothole repairs (hours)1,311 1,062 2,425 5,910
Water
Metered water customers 15,247 15,663 15,754 15,769
Water main breaks 99 130 93 96
Water purchases
(in ten-thousands of gallons)312,218 318,381 306,164 301,349
Average daily consumption 192 196 186 183
Building
Permits issued 2,759 2,739 2,837 2,376
Value of construction
(in thousands of dollars)108,005 $ 108,455 $ 106,000 $ 133,737 $
Data Source
Various Village departments.
222
2010 2011 2012 2013 2014 2015
1,088 571 544 570 506 551
2,998 2,243 1,125 2,272 1,922 2,388
2,301 2,446 2,511 2,646 2,352 2,198
4,653 4,948 4,832 4,495 4,860 4,925
2,249 2,359 2,327 2,835 2,821 2,898
52 28 63 47 39 41
21 26 27 26 32 45
4,444 3,453 4,267 4,390 5,182 5,519
15,781 15,786 15,894 15,889 16,050 16,053
134 114 171 146 102 59
292,882 285,877 306,706 289,550 273,095 272,568
141 133 138 129 120 111
2,535 2,552 1,471 1,918 3,503 3,433
110,191 $ 98,541 $ 39,693 $ 164,556 $ 193,829 $ 119,447 $
223
Village of Glenview, Illinois
Capital Asset Statistics
Last Ten Fiscal Years
Function/Program 2006 2007 2008 2009
Public Safety
Police
Police stations 1 1 1 1
Marked patrol units 18 18 18 18
Unmarked patrol units 9 9 9 12
Motorcycles 3 3 3 4
Civilian vehicles N/A N/A N/A N/A
Fire
Fire stations 5 5 5 5
Ambulances 3 4 4 4
Fire engines 4 4 4 6
Aerial ladder truck 1 1 1 1
Passenger vehicles N/A N/A N/A N/A
Public works
Streets and highways
Arterial street miles 7 7 7 18
Residential street miles 126 126 126 158
Streetlights 1,800 1,800 1,800 1,800
Water
Water main miles 230 230 230 230
Fire hydrants 2,668 2,668 2,668 2,713
Storage capacity
(in millions of gallons)18,000 18,000 18,000 16,050
Wastewater
Sanitary sewer miles 128 128 128 128
Storm sewer miles 175 175 165 165
Parking facilities
Parking spaces 1,450 1,450 1,450 1,450
Data Source:
Various Village departments, data varies due to improved GIS capabilities.
N/A - Information is not available
224
2010 2011 2012 2013 2014 2015
1 1 1 1 1 1
18 18 18 18 18 18
12 12 12 11 11 11
4 4 4 4 4 4
N/A N/A 3 3 3 3
5 5 5 5 5 5
4 4 4 4 4 4
6 6 6 6 6 6
1 1 1 2 2 2
N/A N/A 6 6 5 5
18 18 18 18 18 20
158 158 158 158 167 167
1,800 1,800 1,800 1,800 1,800 1,800
230 230 230 230 247 230
2,733 2,733 2,733 2,733 2,823 2,866
16,050 16,050 16,050 16,050 16,300 16,300
150 150 150 150 150 150
262 262 262 262 262 262
1,450 1,450 2,048 2,153 2,153 2,153