HomeMy Public PortalAboutFY 2016 Certified Comprehensive Annual Financial ReportVillage of Glenview,
Illinois
Comprehensive Annual Financial Report
For the Fiscal Year Ended December 31, 2016
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, 2016
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 - 19
Basic Financial Statements
Government-wide Financial Statements
Statement of Net Position 20 - 21
Statement of Activities 22 - 23
Fund Financial Statements
Balance Sheet – Governmental Funds 24
Reconciliation of the Governmental Funds Balance Sheet to the
Statement of Net Position 25
Statement of Revenues, Expenditures, and Changes in
Fund Balances – Governmental Funds 26
Reconciliation of the Governmental Funds Statement of Revenues,
Expenditures, and Changes in Fund Balances to the Statement of Activities 27
Statement of Net Position – Proprietary Funds 28 - 29
Statement of Revenues, Expenses, and Changes in Fund Net Position –
Proprietary Funds 30 - 31
Statement of Cash Flows – Proprietary Funds 32 - 35
Statement of Fiduciary Net Position – Fiduciary Funds 36
Statement of Changes in Plan Net Position – Pension Trust Funds 37
Notes to Financial Statements 38 - 99
Required Supplementary Information (Unaudited)
Schedule of Funding Progress
Other Postemployment Benefit Plan 100
Schedule of Changes in Net Pension Liability, Total Pension Liability and
Related Ratios and Investment Returns
Illinois Municipal Retirement Fund 101
Police Pension Plan 102
Firefighters’ Pension Plan 103
(Continued)
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Village of Glenview, Illinois
Comprehensive Annual Financial Report
For the Year Ended December 31, 2016
Table of Contents
Page
FINANCIAL SECTION (Continued)
Required Supplementary Information (Unaudited) (Continued)
Schedules of Contributions
Illinois Municipal Retirement Fund 104
Police Pension Plan, Firefighters’ Pension Plan 105 - 106
Schedule of Revenues, Expenditures, and Changes in Fund Balance –
Budget and Actual
General Fund 107
Special Tax Allocation Fund 108
Notes to Required Supplementary Information 109 - 110
Supplemental Information
Governmental Funds
Major Funds
Schedule of Detailed Revenues and Other Financing Sources - Budget and Actual
General Fund 111 - 114
Schedule of Detailed Expenditures and Other Financing Uses - Budget and Actual
General Fund 115 - 120
Schedules of Detailed Revenues, Expenditures, and Changes in Fund
Balance - Budget and Actual
Special Tax Allocation Fund 121
Village Permanent Fund 122
Nonmajor Governmental Funds
Combining Balance Sheet 123
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 124
Nonmajor Special Revenue Funds
Combining Balance Sheet 125
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 126
Schedules of Revenues, Expenditures, and Changes in Fund Balance –
Budget and Actual
Motor Fuel Tax Fund 127
Foreign Fire Insurance Fund 128
Police Department Special Account Fund 129
Waukegan Golf TIF Fund 130
Nonmajor Debt Service Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance -
Budget and Actual - Corporate Purpose Bonds Fund 131
(Continued)
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Village of Glenview, Illinois
Comprehensive Annual Financial Report
For the Year Ended December 31, 2016
Table of Contents
Page
FINANCIAL SECTION (Continued)
Supplemental Information (Continued)
Nonmajor Governmental Funds (Continued)
Nonmajor Capital Project Fund
Combining Balance Sheet 132
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 133
Schedule of Revenues, Expenditures, and Changes in Fund Balance -
Budget and Actual
Capital Projects Fund 134
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, 2016
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 Debt Service 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 - Budget and Actual
Library Special Reserve Fund 179
Other Supplemental Information
Long-Term Debt Requirements
General Obligation Bond Series 2009A 180
General Obligation Bond Series 2009D 181
Illinois Environment Protection Agency Loan 182
General Obligation Refunding Bond Series 2012A 183
General Obligation Refunding Bond Series 2012B 184
General Obligation Refunding Bond Series 2012C 185
General Obligation Bond Series 2013A 186
General Obligation Bond Series 2013B 187
5-Year Loan 188
General Obligation Bonds, Series 2015 189
General Obligation Refunding Bond, Series 2016A 190
Advanced Metering Infrastructure Loan 191
(Continued)
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Village of Glenview, Illinois
Comprehensive Annual Financial Report
For the Year Ended December 31, 2016
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, 2016
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
Matthew J. Formica
Village Clerk/Treasurer
ADMINISTRATIVE
Matthew J. Formica, Village Manager
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June 14, 2017
Honorable Village President Patterson
Members of the Board of Trustees
Residents of the Village of Glenview
State law requires that every general-purpose local government publish, within six months of the close of
each fiscal year, a complete set of audited financial statements. The Comprehensive Annual Financial
Report of the Village of Glenview, Illinois, for the fiscal year ended December 31, 2016 is published to fulfill
that requirement.
Management assumes full responsibility for the completeness and reliability of the information contained in
this report, based upon a comprehensive framework of internal controls that are established for this
purpose. Because the cost of internal controls should not exceed the anticipated benefits, the objective is
to provide reasonable, rather than absolute, assurance that the financial statements are free of any material
misstatements.
RSM US LLP, Certified Public Accountants, has issued an unmodified (“clean”) opinion on the Village of
Glenview’s (the “Village”) financial statements for the year ended December 31, 2016. The independent
auditor’s report is located at the front of the financial section of this report.
Management’s Discussion and Analysis (MD&A) immediately follows the independent auditor’s report and
provides a narrative introduction, overview, and analysis of the basic financial statements. MD&A
complements this letter of transmittal and should be read in conjunction with it.
Profile of the Village of Glenview
The Village of Glenview, incorporated in 1899, is located in northern Cook County and is 20 miles north of
the City of Chicago. The Village serves a population of approximately 46,000 and is considered to be a
primary government providing a full range of general governmental services. The Village is empowered to
levy a property tax on real property located within its boundaries. It also is empowered by state statute to
extend its corporate limits by annexation, which it has done from time to time.
The Village’s legislative body consists of the Village President and a Board of six Trustees, all elected on
an at-large basis to overlapping four-year terms. The Village Manager is responsible for the day-to-day
operations of the Village. As defined by the Illinois Constitution, the Village of Glenview is a home rule
municipality.
The Village provides comprehensive governmental services, including police and fire protection, health
services, water and sewer utilities, street construction and maintenance, code enforcements, planning and
zoning and general administrative services. In addition to serving Village residents, the Fire Department
also provides fire protection and ambulance service to the Village of Golf as well as the Glenbrook Fire
Protection District which is comprised of approximately 15,000 residents located in unincorporated Cook
County. Both of these entities have long-term intergovernmental agreements with the Village to pay for
these services.
2500 East Lake Avenue Glenview, IL 60026 (847) 904-4370 Fax (847) 724-1518 www.glenview.il.us
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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 as a component unit of the Village 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 but on occasion 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 2015
assessed valuation, 74.3% was classified as residential, and 25.7% was commercial/industrial.
A number of revenue sources in 2016 have continued to show a stabilization in growth after a few years of
significant growth. For example, during 2016, the annual sales tax revenue amount of $16,189,240 was
3.54% higher than the sales tax revenue received in 2015 while the growth year to year for the past two
years was 4.43% and 8.23%.
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 $4.5 million
or 28% of sales tax receipts in 2016, the Furniture and Electronics sales tax category, which in 2001
generated approximately 1% of sales tax receipts, in 2016 generated $4.5 million, or 28% 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/distribution space to their facility.
Major Initiatives and Accomplishments
Village Board Goals and Initiatives – The Board of Trustees’ 2016 strategic goals remained much the
same as they have over the last several years which are to 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,
staffing and programs to maximize quality of service and efficiency; enhancing the Village’s community
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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 revenue
generating initiatives. Positive cost containment efforts include the Village Board and managements’ efforts
to 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.
Another accomplishment for the Village is their success in obtaining outside funding for capital projects.
From 2005 to 2015, the Village received over $20,364,975 in state and federal funds to support a number
of capital projects. Additionally, the Village has secured $16,600,000 in state and federal funds for projects
scheduled through 2021.
During 2016, 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 $614,895 of the General Fund Balance.
Development Initiatives
In 2016, 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. All the infrastructure for the development was installed in 2016
prior to the construction of the first homes on the property. Completion of the project is expected in
2017.
• A new 4-story residential apartment building at 1160 Waukegan Road was approved in 2014.
Construction was completed in 2016 adding 36 luxury apartments to Glenview’s downtown.
• The Glen Town Center Streetscape was reconstructed in 2016 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. Other improvements
include colored stamped concrete added along the street edges and the installation of new irrigation
and electrical systems.
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• Anthem Memory Care, a 43,000 square foot senior memory care facility, was approved in 2016 at 1879
Chestnut Avenue. The 66 bed project began construction that same year with occupancy of the building
expected in late 2017.
• An 11,900 square foot addition to the Kohl Children’s Museum was approved in 2016. The addition
includes a gross motor skills play area for all ages, additional program rooms and events space, and
195 new parking stalls. The museum is consistently ranked as one of the top 20 destinations in total
visitors in Illinois. Construction will begin following a multi-year fundraising campaign.
• Illinois Tool Works, a Fortune 500 company, purchased the 40 acre former Kraft Foods campus and
undertook a significant remodeling of the two office towers in 2016 prior to consolidating over 600
employees into the office and lab space.
• The Kensington School, a 15,000 square foot daycare for up to 140 children, was approved in 2016
and is currently under construction.
• Approvals were granted in 2016 for the redevelopment of the former Matty’s Roadside Inn site at 1727
Waukegan Road. A 5,000 square foot Culver’s drive-thru restaurant was approved, as well as a 3,500
square foot retail outlot building. Permits are almost complete and construction is anticipated to begin
in the summer of 2017.
• The Village’s second brewery and tasting room, Machusla Brewing Company, was approved in 2016.
The site is currently under construction and anticipates opening on East Lake Avenue next to Hackney’s
in 2017.
• Several projects began the preliminary development review process in 2016 and received development
approvals in 2017:
o Park Place Glenview, a 26 unit residential development consisting of 14 rowhomes, 4 duplexes,
and 8 small-lot single-family homes on the former Village Hall site.
o Capital Senior Housing development at 4700 West Lake Avenue which is a proposed 73,000
square foot assisted living and memory care facility with 83 units.
• Crafted in 2016 by a 16-member committee, the Village’s Comprehensive Plan updates the 2004
Comprehensive Plan to become the latest “road map” for future development decisions. The Plan
Commission held public hearings on the final draft during the fall of 2016 and was approved by the
Glenview Village Board of Trustees in 2017. The Comprehensive Plan is intended to guide the Village
in its planning efforts for the next 10 to 20 years.
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, 2015.
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-four consecutive years (fiscal years ended 1982 through 2015). We
believe that our current report continues to conform to the Certificate of Achievement Program requirements
and we are submitting it to the GFOA to determine its eligibility for another certificate.
The preparation of this report could not be accomplished without the dedicated services of the entire staff
of the Finance Division within the Administrative Services Department and the cooperation and assistance
rendered by the staff of other operating departments of the Village. I would like to express our appreciation
to all of those employees who assisted and contributed to its preparation .
Finally, appreciation is expressed to the Village President, Board of Trustees and the Village Manager for
their leadership and support in planning and conducting the fiscal affairs of the Village.
Respectfully submitted,
~J~
Ronald J. Amen, CPA
Chief Financial Officer
Lauterbach and Amen, LLP
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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,
2016, 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, 2016, 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.
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that management’s
discussion and analysis (pages 4–19), budgetary comparison information (pages 107–108), and pension
and OPEB information (pages 100–106), and the related note (pages 109 - 110) 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, 2016 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, 2016, and the other information, such as 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, 2016 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, 2016.
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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, 2015 (not presented herein), and have issued our report thereon dated June 14,
2016, 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, 2015 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
2015 financial statements. The combining and individual fund statements and schedules have been
subjected to the auditing procedures applied in the audit of the 2015 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, 2015.
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, 2017
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Village of Glenview, Illinois
Management’s Discussion and Analysis
December 31, 2016
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, 2016. 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 20.
FINANCIAL HIGHLIGHTS
• The Village’s net position of governmental activities increased by $1,561,984, or 0.8% whereas
the net position of business-type activities decreased by $1,819,592, or 2.97%, resulting in total
ending net position for the year of $241,792,509.
• During the year, government-wide revenues before transfers for the governmental and business-
type activities totaled $122,931,179, while expenses totaled $123,188,787, resulting in the
decrease in net position of $257,608.
• The Village’s net position totaled $241,792,509 on December 31, 2016, a decrease of $257,608
from the prior fiscal year.
• The ending fund balance for the General Fund equaled $25,490,346, a decrease of $748,526
due to a planned use of fund balance.
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 20-23) 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 24. 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 20-23 of this report.
The Statement of Net Position reports information on all of the Village’s assets, deferred outflows of
resources, liabilities and deferred inflows of resources, with the difference between the these items
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.
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Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2016
USING THIS ANNUAL REPORT – Continued
Government-Wide Financial Statements – Continued
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.
6
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2016
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, and Village Permanent
Fund, all of which are considered to be major funds. Data from the other seven 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 24-27 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 28-35 of this report.
7
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2016
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 36-37 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 38-99 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 100-110 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
111-163 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 $241,792,509 at December 31, 2016, compared to $242,050,117 at
December 31, 2015. 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 Village’s total net pension liability at December 31, 2016 is $87,361,922 which is
made up of $12,385,506, $27,995,017 and $46,981,399, respectively. The Village’s total net pension
liability at December 31, 2015 is $72,958,839 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, 2016, the Village has offset the total net pension liabilities of $87,361,922 with deferred
outflows of $28,905,008 and deferred inflows of $4,680,723. At December 31, 2015, the Village had
offset the total net pension liabilities of $72,958,839 with deferred outflows of $18,407,709 and deferred
inflows of $3,462,274.
8
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2016
GOVERNMENT-WIDE FINANCIAL ANALYSIS – Continued
2016 2015 2016 2015 2016 2015
Current and other assets 102,378,736 $ 105,892,341 $ 8,703,626 $ 9,890,814 $ 111,082,362 $ 115,783,155 $
Capital assets 242,676,648 243,384,335 60,242,479 58,644,312 302,919,127 302,028,647
Total assets 345,055,384 349,276,676 68,946,105 68,535,126 414,001,489 417,811,802
Deferred Outflow of Resources 29,143,758 19,368,543 1,441,300 1,015,465 30,585,058 20,384,008
Total deferred outflows 29,143,758 19,368,543 1,441,300 1,015,465 30,585,058 20,384,008
Long-term liabilities 139,767,623 135,084,466 8,750,174 4,545,497 148,517,797 139,629,963
Other liabilities 35,956,173 38,120,514 2,173,667 3,778,277 38,129,840 41,898,791
Total liabilities 175,723,796 173,204,980 10,923,841 8,323,774 186,647,637 181,528,754
Deferred Inflows of Resources 16,080,118 14,606,995 66,283 9,944 16,146,401 14,616,939
Total deferred inflows 16,080,118 14,606,995 66,283 9,944 16,146,401 14,616,939
Net Position
Net investment in
capital assets 190,133,236 190,234,952 53,413,336 55,002,443 243,546,572 245,237,395
Restricted 2,906,999 2,194,487 - - 2,906,999 2,194,487
Unrestricted (10,645,007) (11,596,195) 5,983,945 6,214,430 (4,661,062) (5,381,765)
Total net position, as restated 182,395,228 $ 180,833,244 $ 59,397,281 $ 61,216,873 $ 241,792,509 $ 242,050,117 $
Activities Activities Government
Table 1
Statement of Net Position
As of December 31, 2016 and 2015
Governmental Business-Type Total Primary
A large portion of the Village’s net position, $243,546,572, 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, $2,906,999, 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 ($4,661,062) represents
unrestricted net position.
9
Village of Glenview, Illinois
Management’s Discussion and Analysis
December 31, 2016
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, 2016
Revenue 2016 2015 2016 2015 2016 2015
Program revenues
Charges for services 13,276,364 $ 15,943,280 $ 19,561,343 $ 20,427,770 $ 32,837,707 $ 36,371,050 $
Grants and contributions
Operating 1,857,331 1,740,265 - - 1,857,331 1,740,265
Capital 299,776 18,639,549 - - 299,776 18,639,549
General Revenue
Taxes
Property 44,672,858 41,564,097 - - 44,672,858 41,564,097
Home rule 7,948,198 7,821,912 - - 7,948,198 7,821,912
Telecommunication 2,000,427 2,271,699 - - 2,000,427 2,271,699
Utility 3,301,427 3,308,469 - - 3,301,427 3,308,469
Other 1,117,626 1,058,897 - - 1,117,626 1,058,897
Intergovernmental
Sales 16,189,240 15,635,705 - - 16,189,240 15,635,705
State income 4,293,596 4,832,506 - - 4,293,596 4,832,506
Local use 1,085,498 994,035 - - 1,085,498 994,035
Road and bridge 449,785 391,761 - - 449,785 391,761
Property replacement 214,012 211,495 - - 214,012 211,495
Other 1,424,994 1,352,890 - - 1,424,994 1,352,890
Investment income 1,145,352 667,765 9,637 15,093 1,154,989 682,858
Gain on legal settlement - - - - - -
Other general revenues 4,075,921 1,701,143 7,794 15,942,418 4,083,715 17,643,561
Total revenues 103,352,405 118,135,468 19,578,774 36,385,281 122,931,179 154,520,749
Expenses
General government 44,385,296 34,403,572 - - 44,385,296 34,403,572
Public works 12,872,643 26,550,936 - - 12,872,643 26,550,936
Public safety 34,694,711 20,638,161 - - 34,694,711 20,638,161
Development 8,956,426 5,107,156 - - 8,956,426 5,107,156
Interest on long-term debt 1,853,307 2,087,567 - - 1,853,307 2,087,567
Water services - - 16,376,087 15,164,208 16,376,087 15,164,208
North Maine water and
sewer - - 19,318 14,915,126 19,318 14,915,126
Sanitary sewerage - - 2,326,072 2,034,331 2,326,072 2,034,331
Wholesale water - - 1,276,248 1,172,689 1,276,248 1,172,689
Commuter parking - - 428,679 487,345 428,679 487,345
Total expenses 102,762,383 88,787,392 20,426,404 33,773,699 123,188,787 122,561,091
Change in net position
before transfers 590,022 29,348,076 (847,630) 2,611,582 (257,608) 31,959,658
Transfers 971,962 11,000,896 (971,962) (11,000,896) - -
Change in net position 1,561,984 40,348,972 (1,819,592) (8,389,314) (257,608) 31,959,658
Net position - beginning 180,833,244 140,484,272 61,216,873 69,606,187 242,050,117 210,090,459
Net position - ending 182,395,228 $ 180,833,244 $ 59,397,281 $ 61,216,873 $ 241,792,509 $ 242,050,117 $
Activities Activities Government
Table 2
Changes in Net Position
For the Fiscal Years Ended December 31, 2016 and 2015
Governmental Business-Type Total Primary
11
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2016
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 49.3% of the Village’s General Fund expenditures (including transfers) and
approximately 14.1% of enterprise operating costs at December 31, 2016.
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.
Net position of the Village’s governmental activities increased by 0.8%, or $1,561,984 ($182,395,228 in
2016 compared to $180,833,244 in 2015). This increase is primarily due to the reimbursement of Special
Service Area capital project costs of $2,183,495. Net position of business-type activities decreased 2.97%
or $1,819,592 ($59,397,281 in 2016 compared to $61,216,873 in 2015). This decreased is largely the
result of the Village implementing an Automated Metering Program during the year.
12
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2016
GOVERNMENT-WIDE FINANCIAL ANALYSIS – Continued
Governmental Activities
Revenues:
Revenues for governmental activities totaled $103,352,405 at December 31, 2016 and $118,135,468 at
December 31, 2015, a decrease of $14,783,063. Some key changes during the year for the governmental
activity revenues are described below:
• Grants and contribution revenues decreased by $18,222,707 or 89.4%. In 2015, grant revenue
that was received for the purchase of floodway homes for a total of $11,000,000 combined with
other stormwater grant revenue received during the year.
• Property tax revenues increased from $41,564,097 at December 31, 2015 to $44,672,858 at
December 31, 2016, reflecting a 7.5% increase due primarily to the first year of incremental TIF
property taxes totaling $860,000 received in a nonmajor special revenue fund.
• Charges for services decreased $2,481,774 or 15.6% due mostly to a decrease of $1,119,760 in
licenses and permit fees combined with a decrease of $1,570,995 in miscellaneous revenue.
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 identifies the less
significant percentage the Village receives from income taxes, telecommunication taxes, and utility taxes.
13
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2016
GOVERNMENT-WIDE FINANCIAL ANALYSIS – Continued
Governmental Activities – Continued
For the year ended December 31, 2016, governmental activities expenses totaled $102,762,383, an
increase of $13,974,991, or 15.7% from the 2015 expenses of $88,787,392. This increase is primarily
due to the change pension liability and related pension amount resulted in an increase of $13,523,219 in
expenditures.
Business-Type activities
Business-Type activities posted total revenues of $19,578,774, while the cost of all business-type
activities totaled $20,426,404. This results in a deficit of $847,630 prior to net transfers out of $971,962.
In 2015, revenues of $36,385,281 exceeded expenses of $33,773,699, resulting in a surplus of
$2,611,582 prior to net transfers out of $11,000,896.
Revenues
For the fiscal year ended December 31, 2016, revenues for the business-type activities totaled
$19,578,774, a decrease of $16,806,507, or 46.2%, due primarily to the sale of the North Maine Utility in
2015. The net gain on this sale was $15,825,645.
Expenses
Expenses for the year ended December 31, 2016 totaled $20,426,404 a decrease of $13,347,295, or
39.5% over the 2015 expenses of $33,773,699. Upon the sale of the North Maine Utility in 2015, the
Village utilized $12,000,000 of sale proceeds to help fund police and fire pension liabilities.
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 $50,822,595, which is
$225,227, or 0.4%, lower than last year’s total of $51,047,822. Of the $50,822,595 total, $16,399,215, or
approximately 32.3%, of the fund balance constitutes unassigned fund balance.
General Fund
The General Fund reported a decrease in fund balance for the year of $748,526 or 2.9%, which is slightly
more than the planned use of fund balance in the amount of $614,895.
14
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2016
FINANCIAL ANALYSIS OF THE GOVERNMENT’S FUNDS – Continued
Governmental Funds – Continued
General Fund – Continued
The General Fund is the chief operating fund of the Village. At December 31, 2016, unassigned fund
balance in the General Fund was $25,335,141 which represents 99.4% 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 38.1% 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, 2016, the Special Tax Allocation Fund reported revenues
in excess of expenditures by $2,625,127, due in large part to contractual expenditures coming in under
budget by $2,538,372.
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, 2016, the Village Permanent Fund reported
revenues in excess of expenditures by $1,209,483. During the year, a total of $2,225,832 was transferred
to the Permanent Fund from the Capital Projects Fund to re-pay the fund for an advance of Special
Service Areas loan proceeds. Transfers out to the Capital Projects Fund in the amount of $1,107,697
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.
15
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2016
FINANCIAL ANALYSIS OF THE GOVERNMENT’S FUNDS – Continued
Proprietary Funds – Continued
The deficit in the Glenview Water Fund during the current fiscal year was $1,431,448; the previous fiscal
year reported a deficit of $2,140,188. The deficit in this fund is largely the result of the Village
implementing an Automated Metering Program during the year; a total of $3,394,497 was expensed for
this project. This overage was offset by the reclassification of certain capital projects expenditures to
capital assets in the amount of $1,960,410. Additionally, charges for sales and services of $13,332,349
were $771,358 higher than budget. Unrestricted net position in the Glenview Water Fund totaled
$2,871,322 at December 31, 2016.
The North Maine Water and Sewer Fund reported a deficit for the current year of $826,861; the previous
fiscal year reported a deficit of $6,989,161. The North Maine Utility was sold to Aqua Illinois on April 30,
2015. During the year, $156,338 was transferred to the General Fund and $651,952 was transferred to
the Water Fund and this fund is closed as of December 31, 2016.
The surplus in the current year in the Glenview Sanitary Sewer Fund was $243,067, resulting in ending
net position of $19,475,969. In the prior year the Glenview Sanitary Sewer Fund also reported a surplus
of $577,233. The current year surplus was due in large part to lower than anticipated capital expenses.
GENERAL FUND BUDGETARY HIGHLIGHTS
During 2016, the Village Board approved one budget amendment to increase professional services for a
special census in the Village and was funded through available fund balance.
General Fund actual revenues (including other financing sources) for the year totaled $65,778,151
compared to budgeted revenues of $66,729,289, a deficit of $951,138. This is due to state revenues of
sales tax and income tax under budget by $882,456 and $458,865, respectively. These decreases were
offset by unbudgeted transfers from the North Maine Water and Sewer Fund and the Capital Projects
Fund of $156,338 and $200,000, respectively.
16
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2016
FINANCIAL ANALYSIS OF THE GOVERNMENT’S FUNDS – Continued
GENERAL FUND BUDGETARY HIGHLIGHTS – Continued
The General Fund actual expenditures (including transfers) for the year of $66,526,677 were $817,507
lower than budgeted expenditures of $67,344,184. Contractual services were under budget by $378,970,
or 2.8%. This is due to lower than budgeted expenses for postage, outside litigation, snow plowing,
recycling fees, medical services and economic development agreements for property, sales and utility tax
sharing. Commodities were under budget by $116,487, or 5.6%, mainly due to savings in electricity and
natural gas due to a mild weather. Other charges were under budget by $171,887, or 2.4% due to
various expenses budgeted but not incurred. Interfund charges were under budget by $178,583, or 3.9%
as the cost of fuel and routine maintenance charges were lower than anticipated. Transfers out were
lower than budget by $83,845 as project savings were realized in the Capital Projects Fund, thus
reducing the annual transfer from the General Fund. Additionally, personnel costs and capital outlay
were a combined $122,266 over budget due to additional overtime expenses needed to cover staff
vacancies and capital outlay costs incurred to begin expansion of the joint dispatch center to prepare for
the four communities that will be added in 2017.
Original Final
Budget Budget Actual
Revenues
Taxes 26,316,533 $ 26,316,533 $ 25,918,598 $
Intergovernmental 27,367,878 27,367,878 26,164,152
Other 12,217,590 12,217,590 12,493,358
Total revenues 65,902,001 65,902,001 64,576,108
Expenditures (60,061,234) (60,151,602) (59,417,940)
Transfers in 827,288 827,288 1,202,043
Transfers out (7,192,582) (7,192,582) (7,108,737)
Total expenditures and
net transfers (66,426,528) (66,516,896) (65,324,634)
Net change in fund balance (524,527) $ (614,895) $ (748,526) $
Table 3
General Fund Budgetary Highlights
17
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2016
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, 2016 was $302,919,127 (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.
2016 2015 2016 2015 2016 2015
Construction in progress 52,641 $ 80,256 $ 122,796 $ -$ 175,437 $ 80,256 $
Land 21,076,696 21,076,696 567,851 567,851 21,644,547 21,644,547
Land right of way 55,281,951 55,281,951 - - 55,281,951 55,281,951
Buildings and improvements 70,949,194 72,496,858 1,748,084 1,826,443 72,697,278 74,323,301
Machinery, equipment and
vehicles 7,683,522 8,011,118 1,061,894 782,083 8,745,416 8,793,201
Infrastructure 87,632,644 86,437,456 - - 87,632,644 86,437,456
Water system - - 38,321,140 37,156,813 38,321,140 37,156,813
Sanitary sewer system - - 18,420,714 18,311,122 18,420,714 18,311,122
Total 242,676,648 $ 243,384,335 $ 60,242,479 $ 58,644,312 $ 302,919,127 $ 302,028,647 $
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 404,356 $
Land -
Building and improvements 556,160
Infrastructure, including roadways, etc.5,123,475
Machinery, equipment and vehicles 1,652,635
Sanitary sewer system 592,086
Water system 2,292,185
Total 10,620,897 $
Additional information on the Village’s capital assets can be found in Note 4 on pages 57-60 of this report.
18
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2016
CAPITAL ASSETS AND DEBT ADMINISTRATION - Continued
Debt Administration
At year-end, the Village had total outstanding debt of $62,245,330 as compared to $67,415,088 the
previous year, a decrease of $5,169,758, or 7.67% which included the issuance of a loan in the amount of
$3,872,432, coupled with principal retirements that reduced the outstanding liability on the bonds. The
following is a comparative statement of outstanding debt:
2016 2015 2016 2015 2016 2015
General obligation bonds 51,145,000 $ 58,045,000 $ -$ 765,000 $ 51,145,000 $ 58,810,000 $
Corporate purpose notes - - 6,829,143 3,003,592 6,829,143 3,003,592
Loans payable 4,271,187 5,601,496 - - 4,271,187 5,601,496
Total debt 55,416,187 $ 63,646,496 $ 6,829,143 $ 3,768,592 $ 62,245,330 $ 67,415,088 $
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 2017
budget, tax rates, and fees that will be charged for its governmental and business-type activities. One of
those factors is the economy. The current economic condition continues to show moderate growth in
some areas while also gaining stability in areas such as permit fee revenue. Specifically, recent
trending has shown moderate growth with general and home rule sales tax over the last few years with
the growth trend expected to continue. There is reason to be cautiously optimistic about the local
economy and the impact it has on the Village’s finances. However, the Village continues to monitor the
economy at the state level and the possible impacts to the Village budget as the State Legislators work to
adopt a budget. Because of this, the Village budgeted for no growth in various revenues. Additionally, for
only the second time in eight years, the Village increased the tax levy by a total of $200,000, which was
intended to assist in balancing the General Fund 2017 budget. 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
2017 are also continually being analyzed through three to five year models to ensure the Village’s long
term sustainability.
19
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2016
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
20
Village of Glenview, Illinois
Statement of Net Position
December 31, 2016
Component
Primary Government Unit
Governmental Business-type Glenview
Activities Activities Total Library
Assets
Cash and cash equivalents 49,522,213 $ 4,199,627 $ 53,721,840 $ 4,224,848 $
Investments 26,674,995 744,500 27,419,495 1,237,914
Receivables, net of allowances
Taxes 20,191,502 - 20,191,502 7,826,557
Accounts 340,069 3,686,926 4,026,995 -
Other 992,656 2,715 995,371 2,353
Prepaid expenses 790,112 - 790,112 -
Inventory 529,051 69,858 598,909 -
Due from primary government - - - 4,163
Due from other governments 106,022 - 106,022 -
Due from pension funds 12,449 - 12,449 -
Total current assets 99,159,069 8,703,626 107,862,695 13,295,835
Noncurrent assets
Notes receivable 2,153,667 - 2,153,667 -
Lease receivable 1,066,000 - 1,066,000 -
Capital assets
Not being depreciated 76,411,288 690,647 77,101,935 5,426,987
Net of accumulated
depreciation 166,265,360 59,551,832 225,817,192 25,384,526
Total noncurrent assets 245,896,315 60,242,479 306,138,794 30,811,513
Total assets 345,055,384 68,946,105 414,001,489 44,107,348
Deferred Outflows of Resources
Deferred loss on refunding 1,680,051 - 1,680,051 1,020,303
Deferred outflows due to pensions 27,463,707 1,441,300 28,905,007 2,065,009
Total deferred outflows of
resources 29,143,758 1,441,300 30,585,058 3,085,312
(Continued)
See Notes to Financial Statements.
21
Village of Glenview, Illinois
Statement of Net Position (Continued)
December 31, 2016
Component
Primary Government Unit
Governmental Business-type Glenview
Activities Activities Total Library
Liabilities
Accounts payable 21,749,243 $ 1,740,522 $ 23,489,765 $ 420,689 $
Accrued payroll 1,174,401 108,793 1,283,194 169,322
Accrued interest payable 140,607 16,135 156,742 74,667
Other payables 2,234,495 - 2,234,495 -
Refundable deposits - 12,775 12,775 -
Unearned revenues 334,259 - 334,259 -
Due to component unit 4,163 - 4,163 -
Current portion of long-term
liabilities 10,319,005 295,442 10,614,447 1,243,703
Total current liabilities 35,956,173 2,173,667 38,129,840 1,908,381
Noncurrent liabilities
Long-term liabilities -
due in more than one year 139,767,623 8,750,174 148,517,797 22,346,750
Total liabilities 175,723,796 10,923,841 186,647,637 24,255,131
Deferred Inflows of Resources
Deferred property taxes 11,354,450 - 11,354,450 7,858,628
Deferred interest revenue 111,228 - 111,228 -
Deferred inflows due to pensions 4,614,440 66,283 4,680,723 63,449
Total deferred inflows
of resources 16,080,118 66,283 16,146,401 7,922,077
Net Position
Net investment in capital assets 190,133,236 53,413,336 243,546,572 11,585,865
Restricted
Street improvements 1,451,108 - 1,451,108 -
Public safety 283,415 - 283,415 -
Economic development 1,172,476 - 1,172,476 -
Culture and recreation - - - 1,275,873
Unrestricted (10,645,007) 5,983,945 (4,661,062) 2,153,714
Total net position 182,395,228 $ 59,397,281 $ 241,792,509 $ 15,015,452 $
See Notes to Financial Statements.
22
Village of Glenview, Illinois
Statement of Activities
For the Year Ended December 31, 2016
Program Revenues
Operating Capital
Charges for Grants and Grants and
Expenses Services Contributions Contributions
Functions/Program
Primary government
Governmental activities
General government 44,385,296 $ 4,015,275 $ -$ -$
Public works 12,872,643 962,941 1,607,065 -
Public safety 34,694,711 8,036,363 111,630 -
Development 8,956,426 261,785 138,636 299,776
Interest 1,853,307 - - -
Total governmental activities 102,762,383 13,276,364 1,857,331 299,776
Business-type activities
Water services 16,376,087 14,276,095 - -
North Maine water and sewer 19,318 - - -
Sanitary sewerage 2,326,072 2,569,752 - -
Wholesale water 1,276,248 2,075,114 - -
Commuter parking 428,679 640,382 - -
Total business-type activities 20,426,404 19,561,343 - -
Total primary government 123,188,787 $ 32,837,707 $ 1,857,331 $ 299,776 $
Component Unit
Public library 8,457,481 $ 223,711 $ 1,105,699 $ -$
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
Net position – end of year
See Notes to Financial Statements.
23
Net (Expense) Revenue and Changes in Net Position
Primary Government Component Unit
Governmental Business-type Glenview
Activities Activities Total Library
(40,370,021) $ -$ (40,370,021) $ -$
(10,302,637) - (10,302,637) -
(26,546,718) - (26,546,718) -
(8,256,229) - (8,256,229) -
(1,853,307) - (1,853,307) -
(87,328,912) - (87,328,912) -
- (2,099,992) (2,099,992) -
- (19,318) (19,318) -
- 243,680 243,680 -
- 798,866 798,866 -
- 211,703 211,703 -
- (865,061) (865,061) -
(87,328,912) (865,061) (88,193,973)
(7,128,071) $
44,672,858 - 44,672,858 8,195,788
7,948,198 - 7,948,198 -
2,000,427 - 2,000,427 -
3,301,427 - 3,301,427 -
1,117,626 - 1,117,626 -
16,189,240 - 16,189,240 -
4,293,596 - 4,293,596 -
1,085,498 - 1,085,498 -
2,088,791 - 2,088,791 -
1,145,352 9,637 1,154,989 42,740
4,075,921 7,794 4,083,715 -
971,962 (971,962) - -
88,890,896 (954,531) 87,936,365 8,238,528
1,561,984 (1,819,592) (257,608) 1,110,457
180,833,244 61,216,873 242,050,117 13,904,995
182,395,228 $ 59,397,281 $ 241,792,509 $ 15,015,452 $
24
Village of Glenview, Illinois
Governmental Funds
Balance Sheet
December 31, 2016
Special Tax Village Nonmajor Total
General Allocation Permanent Governmental Governmental
Fund Fund Fund Funds Funds
Cash and cash equivalents 9,885,660 $ 21,513,012 $ 5,833,335 $ 5,935,215 $ 43,167,222 $
Investments 10,928,566 - 6,980,438 1,699,122 19,608,126
Receivables, net of allowances
Taxes 20,191,502 - - - 20,191,502
Accounts 219,024 - 23,423 18,000 260,447
Other 487,255 - 40,890 353,174 881,319
Prepaid items - 19,633 - - 19,633
Inventory 155,205 - - - 155,205
Due from other funds 13,968 - - 1,628 15,596
Due from other governments - - - 106,022 106,022
Due from pension trusts 12,449 - - - 12,449
Notes receivable - 2,153,667 - - 2,153,667
Lease receivable - - 1,066,000 - 1,066,000
Advance to other funds - - 15,280,031 - 15,280,031
Total assets 41,893,629 $ 23,686,312 $ 29,224,117 $ 8,113,161 $ 102,917,219 $
Liabilities
Liabilities
Accounts payable 2,431,877 $ 17,310,754 $ 34,196 $ 1,704,351 $ 21,481,178 $
Accrued payroll 1,137,544 11,820 - 283 1,149,647
Other payables 1,158,105 - - 1,050,898 2,209,003
Due to other funds 1,628 - - 11,917 13,545
Due to component unit 4,163 - - - 4,163
Unearned revenue 315,516 - - - 315,516
Advances from other funds - 15,280,031 - - 15,280,031
Total liabilities 5,048,833 32,602,605 34,196 2,767,449 40,453,083
Deferred Inflows of Resources
Deferred property taxes 11,354,450 - - - 11,354,450
Deferred interest revenue - - 111,228 - 111,228
Unavailable grant revenue - - - 175,863 175,863
Total deferred inflows of resources 11,354,450 - 111,228 175,863 11,641,541
Fund balances
Fund balances
Nonspendable 155,205 19,633 - - 174,838
Restricted - - - 2,906,999 2,906,999
Assigned - - 29,078,693 2,262,850 31,341,543
Unassigned 25,335,141 (8,935,926) - - 16,399,215
Total fund balances 25,490,346 (8,916,293) 29,078,693 5,169,849 50,822,595
Total liabilities, deferred
inflows of resources
and fund balances 41,893,629 $ 23,686,312 $ 29,224,117 $ 8,113,161 $ 102,917,219 $
See Notes to Financial Statements.
Deferred Inflows of Resources
Assets
25
Village of Glenview, Illinois
Reconciliation of the Governmental Funds Balance Sheet
to the Statement of Net Position
December 31, 2016
Total fund balances – governmental funds 50,822,595 $
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. 242,676,648
Deferred loss on refunding of debt is not considered to represent a financial
resource and, therefore, are not reported in the funds.1,680,051
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 1,397,851 $
Deferred outflows due to pensions 26,065,856
Total deferred outflows due to pensions 27,463,707
Deferred inflows due to pensions (4,614,440)
Revenues in the Statement of Activities that do not provide current financial
resources are deferred inflows of resources in the funds.175,863
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:12,479,432
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 (1,498,302)
Net other postemployment benefit obligation payable (2,938,856)
Net pension liability (85,216,213)
Capital lease (490,792)
General obligation bond payable, net of unamortized items (53,732,671)
Loan payable (4,271,187)
Accrued interest payable (140,607)
Total long-term liabilities not reported in governmental funds (148,288,628)
Net position of governmental activities 182,395,228 $
See Notes to Financial Statements.
26
Village of Glenview, Illinois
Governmental Funds
Statement of Revenues, Expenditures, and Changes in Fund Balances
For the Year Ended December 31, 2016
Special Tax Village Nonmajor Total
General Allocation Permanent Governmental Governmental
Fund Fund Fund Funds Funds
Taxes
Property 11,550,920 $ 32,262,381 $ -$ 859,557 $ 44,672,858 $
Other 14,367,678 - - - 14,367,678
Licenses and permits 2,088,538 - - - 2,088,538
Charges for services 10,030,784 204,945 - - 10,235,729
Fines and forfeitures 209,062 - - - 209,062
Intergovernmental 26,164,152 138,636 - 2,901,179 29,203,967
Investment income 164,974 188,773 159,325 31,164 544,236
Other revenues - - - 2,503,274 2,503,274
Total revenues 64,576,108 32,794,735 159,325 6,295,174 103,825,342
Current
General government 17,300,029 21,887,066 - - 39,187,095
Public works 8,873,791 - - 1,356,015 10,229,806
Public safety 29,506,980 - - 94,105 29,601,085
Development 3,709,714 - 67,977 214,442 3,992,133
Capital outlay 27,426 186,451 - 11,894,444 12,108,321
Debt service
Principal - 6,715,938 - 1,514,371 8,230,309
Interest and fiscal charges - 1,102,865 - 820,917 1,923,782
Total expenditures 59,417,940 29,892,320 67,977 15,894,294 105,272,531
Excess (deficiency) of revenues
over (under) expenditures 5,158,168 2,902,415 91,348 (9,599,120) (1,447,189)
Other financing sources (uses)
Transfers in 990,126 - 1,118,135 7,405,944 9,514,205
Transfers (out)(6,896,820) (277,288) - (1,118,135) (8,292,243)
Total other financing sources
(uses)(5,906,694) (277,288) 1,118,135 6,287,809 1,221,962
Net change in fund balances (748,526) 2,625,127 1,209,483 (3,311,311) (225,227)
Fund balances – beginning of year 26,238,872 (11,541,420) 27,869,210 8,481,160 51,047,822
Fund balances – end of year 25,490,346 $ (8,916,293) $ 29,078,693 $ 5,169,849 $ 50,822,595 $
See Notes to Financial Statements.
Revenues
Expenditures
27
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, 2016
Net changes in fund balances—total governmental funds (225,227) $
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 6,791,214 $
Depreciation expense (7,204,938)
Loss on disposal of capital assets (293,963)
Depreciation and loss expense over capital outlays (707,687)
In the Statement of Net Position, a capital lease increases long-term liabilities and does not impact the
Statement of Activities. Similarly, principal payments are an expenditure in governmental
funds but reduce the liability in the Statement of Net Position.
Payment of principal on lease 240,041
Revenue in the Statement of Activities that do not provide current financial
resources are not reported as revenues in the funds.(882,708)
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 (4,885,827)
Change in net other postemployment benefit obligation (303,337)
Change in compensated absences 42,857
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 8,230,309
Amortization of premium/discount 351,674
Amortization of deferred loss on refunding (296,248)
Net affect of long-term debt 8,285,735
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.15,049
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.(16,912)
Change in net position of governmental activities – statement of activities 1,561,984 $
See Notes to Financial Statements.
28
Village of Glenview, Illinois
Proprietary Funds
Statement of Net Position
December 31, 2016 Business-type Activities -
Glenview North Maine Glenview
Water Water and Sanitary
Fund Sewer Fund Sewer Fund
Current assets
Cash and cash equivalents 1,315,419 $ -$ 1,081,625 $
Investments 744,500 - -
Receivables
Accounts, net 2,489,338 - 679,624
Interest 2,715 - -
Other - - -
Prepaid items - - -
Inventory 69,858 - -
Total current assets 4,621,830 - 1,761,249
Noncurrent assets
Capital assets, not being depreciated 67,851 - -
Capital assets being depreciated - net 38,432,524 - 18,420,715
Total noncurrent assets 38,500,375 - 18,420,715
Total assets 43,122,205 - 20,181,964
Deferred Outflows of Resources
Deferred outflows due to pensions 1,179,171 - 262,129
Liabilities
Current liabilities
Accounts payable 931,378 - 549,471
Accrued payroll 85,791 - 19,497
Accrued interest payable 16,135 - -
Accrued expenses - - -
Refundable deposits 12,775 - -
Due to other funds - - -
Claims payable - - -
Unearned revenues - - -
Current portion of long-term liabilities 295,442 - -
Total current liabilities 1,341,521 - 568,968
Noncurrent liabilities
Claims payable - - -
Long-term liabilities due in more than
one year 8,360,931 - 389,243
Total noncurrent liabilities 8,360,931 - 389,243
Total liabilities 9,702,452 - 958,211
Deferred Inflows of Resources
Deferred inflows due to pensions 56,370 - 9,913
Net Position
Net investment in capital assets 31,671,232 - 18,420,715
Unrestricted 2,871,322 - 1,055,254
Total net position 34,542,554 $ -$ 19,475,969 $
See Notes to Financial Statements.
Assets
29
Enterprise Funds
Governmental
Nonmajor Total Activities
Enterprise Enterprise Internal Service
Funds Funds Funds
1,802,583 $ 4,199,627 $ 6,354,991 $
- 744,500 7,066,869
517,964 3,686,926 79,622
- 2,715 51,337
- - 60,000
- - 770,479
- 69,858 373,846
2,320,547 8,703,626 14,757,144
622,796 690,647 -
2,698,593 59,551,832 -
3,321,389 60,242,479 -
5,641,936 68,946,105 14,757,144
- 1,441,300 -
259,673 1,740,522 268,065
3,505 108,793 24,754
- 16,135 -
- - 25,492
- 12,775 -
- - 2,051
- - 775,443
- - 18,743
- 295,442 -
263,178 2,173,667 1,114,548
- - 1,163,164
- 8,750,174 -
- 8,750,174 1,163,164
263,178 10,923,841 2,277,712
- 66,283 -
3,321,389 53,413,336 -
2,057,369 5,983,945 12,479,432
5,378,758 $ 59,397,281 $ 12,479,432 $
30
Village of Glenview, Illinois
Proprietary Funds
Statement of Revenues, Expenses, and Changes in Fund Net Position
For the Year Ended December 31, 2016
Business-type Activities -
Glenview North Maine Glenview
Water Water and Sanitary
Fund Sewer Fund Sewer Fund
Operating revenues
Charges for sales and services 13,332,349 $ -$ 2,332,550 $
Miscellaneous 943,746 - 237,202
Total operating revenues 14,276,095 - 2,569,752
Operating expenses
Operations and maintenance
Insurance services - - -
Parking services - - -
Water services 14,985,649 - -
Sewerage services - - 1,817,571
North Maine water and sewer distribution - 12,865 -
Capital asset repair and replacement - - -
Depreciation and amortization 1,299,924 320 481,424
Total operating expenses 16,285,573 13,185 2,298,995
Operating income (loss)(2,009,478) (13,185) 270,757
Nonoperating revenues (expenses)
Other income - - 7,794
Investment income 7,215 747 970
Gain on sale of assets - - -
Reassignment of capital assets - - -
Interest and fiscal charges (90,514) (6,133) (27,077)
Total nonoperating revenues
(expenses)(83,299) (5,386) (18,313)
Income (loss) before transfers (2,092,777) (18,571) 252,444
Transfers in 661,329 - -
Transfers out - (808,290) (9,377)
Change in net position (1,431,448) (826,861) 243,067
Net position – beginning of year 35,974,002 826,861 19,232,902
Net position – end of year 34,542,554 $ -$ 19,475,969 $
See Notes to Financial Statements.
31
Enterprise Funds Governmental
Nonmajor Total Activities
Enterprise Enterprise Internal Service
Funds Funds Funds
2,704,246 $ 18,369,145 $ 10,565,066 $
11,250 1,192,198 166,196
2,715,496 19,561,343 10,731,262
- - 7,459,790
353,779 353,779 -
1,213,432 16,199,081 -
- 1,817,571 -
- 12,865 -
- - 2,186,345
137,716 1,919,384 -
1,704,927 20,302,680 9,646,135
1,010,569 (741,337) 1,085,127
- 7,794 -
705 9,637 601,115
- - 102,619
- - (1,555,773)
- (123,724) -
705 (106,293) (852,039)
1,011,274 (847,630) 233,088
- 661,329 -
(815,624) (1,633,291) (250,000)
195,650 (1,819,592) (16,912)
5,183,108 61,216,873 12,496,344
5,378,758 $ 59,397,281 $ 12,479,432 $
32
Village of Glenview, Illinois
Proprietary Funds
Statement of Cash Flows
For the Year Ended December 31, 2016
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 13,693,844 $ -$ 2,449,840 $
Cash received from other sources 31,826 - 80,717
Cash payments for goods and services (13,275,838) (12,476) (1,055,622)
Cash payments to employees (2,310,012) - (521,452)
Net cash provided by (used in) operating activities (1,860,180) (12,476) 953,483
Cash flows from noncapital financing activities
Transfers in 661,329 - -
Transfers out - (808,290) (9,377)
Net cash provided by (used in) noncapital
financing activities 661,329 (808,290) (9,377)
Cash flows from capital and related financing activities
Purchases of capital assets (2,805,627) - (592,087)
Proceeds from sales of assets - - -
Principal payments (402,481) (130,000) (279,400)
Interest payments (80,243) (6,675) (27,217)
Proceeds from sale of notes 3,872,432 - -
Net cash provided by (used in) capital and related
financing activities 584,081 (136,675) (898,704)
Cash flows from investing activities
Purchase of investments (744,500) - -
Sale of investments - - -
Loss on investments - - -
Interest received 4,500 747 970
Net cash provided by (used in) investing activities (740,000) 747 970
Net increase (decrease) in cash and cash equivalents (1,354,770) (956,694) 46,372
Cash and cash equivalents – beginning of year 2,670,189 956,694 1,035,253
Cash and cash equivalents – end of year 1,315,419 $ -$ 1,081,625 $
See Notes to Financial Statements
33
Enterprise Funds Governmental
Nonmajor Total Activities
Enterprise Enterprise Internal Service
Funds Funds Funds
2,357,138 $ 18,500,822 $ 10,726,505 $
- 112,543 -
(1,334,075) (15,678,011) (8,962,436)
(91,704) (2,923,168) (938,918)
931,359 12,186 825,151
- 661,329 146,020
(815,624) (1,633,291) (396,020)
(815,624) (971,962) (250,000)
(122,796) (3,520,510) (1,555,773)
- - 102,619
- (811,881) -
- (114,135) -
- 3,872,432 -
(122,796) (574,094) (1,453,154)
- (744,500) (3,655,870)
- - 3,362,863
- - -
705 6,922 574,221
705 (737,578) 281,214
(6,356) (2,271,448) (596,789)
1,808,939 6,471,075 6,951,780
1,802,583 $ 4,199,627 $ 6,354,991 $
(Continued)
34
Village of Glenview, Illinois
Proprietary Funds
Statement of Cash Flows (Continued)
For the Year Ended December 31, 2016
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 (loss)(2,009,478) $ (13,185) $ 270,757 $
Adjustments to reconcile operating income to
net cash provided by (used in) operating activities
Depreciation and amortization 1,299,924 320 481,424
Other income - - 7,794
Changes in assets, liabilities, deferred inflows
of resources, deferred outflows of resources
Accounts receivable (551,970) 2,369 (46,989)
Other receivable - - -
Prepaid expense - - -
Inventory 617,903 - -
Accounts payable (1,428,256) (1,980) 194,384
Accrued payroll 8,862 - 2,160
Refundable deposits 1,545 - -
Due to other funds - - -
Compensated absences 6,833 - -
Claims payable - - -
Unearned revenue - - -
Deferred outflows due to pension (347,522) - (78,313)
Deferred inflows due to pension 46,426 - 9,913
Net pension liability 495,553 - 112,353
Total adjustments 149,298 709 682,726
Net cash provided by (used in)
operating activities (1,860,180) $ (12,476) $ 953,483 $
See Notes to Financial Statements.
35
Enterprise Funds Governmental
Nonmajor Total Activities
Enterprise Enterprise Internal Service
Funds Funds Funds
1,010,569 $ (741,337) $ 1,085,127 $
137,716 1,919,384 -
- 7,794 -
(358,358) (954,948) (3,858)
- - -
- - (441,432)
- 617,903 (13,584)
142,531 (1,093,321) (136,297)
401 11,423 5,454
(1,500) 45 (14,243)
- - (12,624)
- 6,833 -
- - 357,507
- - (899)
- (425,835) -
- 56,339 -
- 607,906 -
(79,210) 753,523 (259,976)
931,359 $ 12,186 $ 825,151 $
36
Village of Glenview, Illinois
Pension
Trust Agency
Funds Funds
Cash and cash equivalents 2,512,638 $ 477,819 $
Investments
U.S. government and agency obligations 40,884,470 -
Municipal obligations 5,525,185 -
Corporate obligations 12,649,250 -
Equity mutual funds 85,790,228 -
Certificates of deposit - 995,100
Receivables
Property taxes - 322,982
Accrued interest receivable 362,918 1,169
Prepaid expenses 10,142 -
Total assets 147,734,831 1,797,070
Accounts payable - 106,628
Refundable deposits - 1,194,917
Accrued expenses 67,413 -
Due to bond holders - 495,525
Total liabilities 67,413 1,797,070
Net position restricted for pensions 147,667,418 $ -$
See Notes to Financial Statements.
Net Position
Statement of Fiduciary Net Position
Fiduciary Funds
December 31, 2016
Assets
Liabilities
37
Village of Glenview, Illinois
Additions
Contributions
Employer 6,513,291 $
Participant 1,595,476
Total contributions 8,108,767
Investment income
Net depreciation in fair value of investments 4,297,780
Interest income 4,612,113
Less investment expenses (206,245)
Net investment income 8,703,648
Total additions 16,812,415
Deductions
Administration 118,527
Retirement pension 8,179,978
Widow pensions 715,100
Disability pensions 632,210
Children's pensions 48,270
Total deductions 9,694,085
Change in net position 7,118,330
Net position restricted for pensions
Beginning 140,549,088
Ending 147,667,418 $
See Notes to Financial Statements.
Statement of Changes in Plan Net Position
Pension Trust Funds
For the Year Ended December 31, 2016
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2016
38
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.
Financial benefit or burden is created if any one of the following relationships exist:
(a) The primary government is legally entitled to or has access to the component unit’s resources.
(b) The primary government is legally required or has assumed the obligation to finance the deficits
of, provide support to, the component unit.
(c) The primary government is obligated in some manner for the other component unit’s debt.
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, 2016
39
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 42.
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, 2016
40
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
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, 2016
41
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, 2016
42
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. In
governmental funds other than the General Fund, resources are assigned in accordance with the
established fund purpose and approved budget or appropriation. Residual fund balances in these
fund types that are not restricted or committed are reported as assigned. Within these same funds, a
residual deficit, if any, is reported as unassigned.
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,
2016.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2016
43
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 2016 to finance the Village's 2017 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.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2016
44
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, 2016
45
Note 1. Summary of Significant Accounting Policies (Continued)
Cash Equivalents
For purposes of the statement of cash flows, the proprietary fund types consider all highly liquid
investments with maturities of three months or less, at the date of purchase, to be cash equivalents.
Investments
In accordance with GASB No. 72, Fair Value Measurement and Application, implemented by the Fund as
required in fiscal year 2016, the Village reports all other investments at fair value. Short-term investments
are reported at amortized 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. Fair value
for the majority of fixed income securities is determined by using quoted market prices by independent
pricing services.
Receivables
The recognition of receivables associated with nonexchange transactions is as follows:
• Derived tax receivables (such as sales, income, and motor fuel taxes) are recognized when the
underlying exchange has occurred.
• Imposed nonexchange receivables (such as property taxes and fines) are recognized when an
enforceable legal claim has arisen.
• Government-mandated or voluntary nonexchange transaction receivables (such as mandates or
grants) are recognized when all eligibility requirements have been met.
Inventory and Prepaid Items
Inventory is accounted for at cost, using the first-in, first-out method. Inventories of governmental funds
are accounted for under the consumption method, whereby acquisitions are recorded in inventory
accounts initially and charged to expenditures when used.
Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as
prepaid items in both government-wide and fund financial statements using the consumption method.
Unbilled Services
Unbilled revenue in the proprietary funds is recognized as earned when the services are provided.
Capital Assets
Capital assets, which include property, buildings, vehicles, equipment, and infrastructure assets (e.g.
roads, bridges, and similar items), are reported in the applicable governmental or business-type activities
columns in the government-wide financial statements and in the proprietary funds statements. Capital
assets are defined as those having an estimated useful life greater than one year with an initial, individual
cost of more than $25,000. Additionally, the Library reports its collection of books and materials as a
capital asset. Capital assets are recorded at historical cost, or estimated historical cost if purchased or
constructed. Donated capital assets are recorded at estimated fair market value at the date of donation.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2016
46
Note 1. Summary of Significant Accounting Policies (Continued)
Capital Assets (Continued)
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.
Deferred Outflows of Resources, Deferred Inflows of Resources and Unearned Revenues
Deferred outflows of resources are the consumption of net position that is applicable to future reporting
periods. The Village reports the deferred loss on refunding of debt and deferred outflows due to pensions
as deferred outflows of resources on the government-wide financial statements.
Deferred inflows of resources are the acquisition of net position or fund balance that is applicable to future
reporting periods. 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. In addition, the Village reports deferred inflows due to pensions on the government-wide
financial statements. See Note 10 for pension related disclosures.
Unearned revenues arise when resources are received by the Village before it has a legal claim to them,
as when grant monies are received prior to the incurrence of qualifying expenditures. In subsequent
periods, when revenue recognition criteria are met or when the Village has a legal claim to the resources,
the liability for unearned revenues is removed from the financial statements and revenue is recognized.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2016
47
Note 1. Summary of Significant Accounting Policies (Continued)
Accrued Vacation and Sick Leave (Compensated Absences)
Compensated Absences include accumulated vacation and compensatory time as employees are not
paid for sick time in the event of termination. Employees are required to use one-half of the vacation
days they earn each year or they lose it and the remaining days can be used, saved, or carried over into
the next year in the employee’s vacation “bank”. Employees may not accumulate more than 30 days’
worth of unused vacation time in their vacation “bank”.
Employees are allowed to accumulate compensatory time to a maximum amount specified in their union
contracts or Village personnel manual as follows:
Non-Union Personnel 80 hours
Public Works Union 120 hours
Dispatch Union 84 hours
Police Union 84 hours
Firefighter Union N/A
Long-Term Obligations
In the government-wide financial statements and proprietary fund types in the fund financial statements,
long-term debt and other long-term obligations, including compensated absences, are reported as
liabilities in the applicable governmental activities or business-type activities statement of net position.
Bond premiums and discounts are reported net of the associated debt and are deferred and amortized
over the life of the bonds on a straight-line basis. Bond issuance costs are 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.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2016
48
Note 1. Summary of Significant Accounting Policies (Continued)
Interfund Transactions
The Village has the following types of transactions between funds:
Loans - amounts provided with a requirement for repayment. Interfund loans are reported as due from
other funds in lender funds and due to other funds in borrower funds for short-term borrowings.
Advances to other funds are reported in lender funds and advances from other funds in borrower
funds for long-term borrowings. Amounts are reported as internal balances in the government-wide
statement of net position.
Services provided and used - sales and purchases of goods and services between funds for a price
approximating their external exchange value. Interfund services provided and used are reported as
revenues in seller funds and expenditures or expenses in purchaser funds. Unpaid amounts are
reported as due to/from other funds in the fund balance sheets or fund statements of net position.
Reimbursements - repayments from the funds responsible for particular expenditures or expenses to
the funds that initially paid for them. Reimbursements are reported as expenditures in the reimbursing
fund and as a reduction of expenditures in the reimbursed fund.
Transfers - flows of assets (such as cash or goods) without equivalent flows of assets in return and
without a requirement for repayment. In governmental funds, transfers are reported as other financing
uses in the funds making transfers and as other financing sources in the funds receiving transfers. In
proprietary funds, transfers are reported as a separate category after nonoperating revenues and
expenses.
Use of Estimates
In preparing financial statements, management is required to make estimates and assumptions that affect
the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date
of the financial statements, and the reported amounts of revenues, expenditures, and expenses during
the reporting period. Actual results could differ from those estimates.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2016
49
Note 2. Deposits and Investments
The Village maintains a cash and investment pool that is available for use by most funds. Each fund’s
portion of this pool is displayed on the balance sheet/statement of net position as "cash and cash
equivalents" and "investments." In addition, investments are separately held by several of the Village's
funds. The Village's investment policy and state statutes allow the Village to invest in the following:
- Interest-bearing accounts of banks and savings and loan associations insured by the Federal
Deposit Insurance Corporation.
- Obligations of the U.S. Treasury and U.S. agencies.
- Insured accounts of an Illinois credit union chartered under United States or Illinois law.
- Money market mutual funds with portfolios of securities issued or guaranteed by the United
States or agreements to repurchase these same types of obligations.
- Repurchase agreements which meet instrument transaction requirements of Illinois law.
- Short-term obligations of U.S. corporations rated in the three highest classifications by at least
two standard rating agencies.
- The Illinois Funds.
- Illinois Metropolitan Investment Fund.
The Village’s investment policy limits the Village from investing in any financial institution in which the
Village’s funds on deposit are in excess of 75% of the institution’s capital stock and surplus.
The deposits and investments of the Police Pension Fund and the Firefighters' 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, 2016, cash and investments consisted of the following:
Pension Agency Component
Village Trust Funds Funds Unit Total
Demand deposits 48,130,054 $ 2,503,206 $ 477,819 $ 4,220,399 $ 55,331,478 $
Certificates of deposit 25,720,373 - 995,100 1,237,914 27,953,387
The Illinois Funds 5,591,786 9,432 - 4,449 5,605,667
U.S. treasury obligations 1,699,122 13,231,508 - - 14,930,630
U.S. agency obligations - 27,652,962 - - 27,652,962
Municipal obligations - 5,525,185 - - 5,525,185
Corporate obligations - 12,649,250 - - 12,649,250
Mutual funds - equity - 85,790,228 - - 85,790,228
Total 81,141,335 $ 147,361,771 $ 1,472,919 $ 5,462,762 $ 235,438,787 $
Fiduciary Activities
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2016
50
Note 2. Deposits and Investments (Continued)
The Illinois Funds
Illinois Funds is an investment pool managed by the State of Illinois, Office of the Treasurer, which allows
governments within the State to pool their funds for investment purposes. Illinois Funds is not registered
with the SEC as an investment company, but does operate in a manner consistent with Rule 2a7 of the
Investment Company Act of 1940. Investments in Illinois Funds are valued at amortized cost.
Fair Value Measurement
The Village categorizes investments (held by the Village, the Police Pension Fund or the Fire Pension
Fund) measured at fair value within the fair value hierarchy established by generally accepted accounting
principles. The hierarchy prioritizes valuation inputs used to measure the fair value of the asset or liability
into three broad categories. The inputs or methodology used for valuing securities are not necessarily an
indication of the risk associated with investing in those securities. Levels 1, 2 and 3 (lowest priority level)
of the fair value hierarchy are defined as follows:
Level 1 Inputs using unadjusted quoted prices in active markets or exchanges for identical assets or
liabilities.
Level 2 Significant other observable inputs, which may include, quoted prices for similar assets or
liabilities in active markets, quoted prices for identical or similar assets or liabilities in non-
active markets; and inputs other than quoted prices that are observable for the assets or
liabilities, either directly or indirectly.
Level 3 Valuations for which one or more significant inputs are unobservable and may include
situations where there is minimal, if any, market activity for the asset or liability.
If the fair value is measured using inputs from different levels in the fair value hierarchy, the measurement
should be categorized based on the lowest priority level input that is significant to the valuation. The
Village’s assessment of significance of a particular input to the fair value measurement in its entirety
requires judgment, and considers factors specific to the investment.
Fixed income and equity investments classified in Level 1 of the fair value hierarchy are valued using
prices quoted in active markets for identical investments.
Fixed income investments classified in Level 2 of the fair value hierarchy are normally valued based on
price data obtained from observed transactions and market price quotations from broker dealers and/or
pricing vendors. Valuation estimates from service providers’ internal models use observable inputs such
as interest rates, yield curves, credit/risk spreads and default rates. Matrix pricing techniques value
securities based on their relationship to benchmark quoted prices.
The Village holds one U.S. Treasury Obligation which is valued using Level 1.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2016
51
Note 2. Deposits and Investments (Continued)
Fair Value Measurement (Continued)
In addition, the following table summarizes the valuation of the Village’s Police and Fire Pension Funds
by the fair value hierarchy levels as of December 31, 2016:
Fair Value
Fixed Income Investments
Corporate Obligations 12,649,250 $ -$ 12,649,250 $ -$
Municipal Obligations 5,525,185 - 5,525,185 -
US Agencies 27,652,962 - 27,652,962 -
US Treasuries 13,231,508 13,231,508 - -
Total Fixed Income Investments 59,058,905 13,231,508 45,827,397 -
Equity Investments
Mutual Funds 85,790,228 85,790,228 - -
Total Equity Investments 85,790,228 85,790,228 - -
Total investments by fair value level 144,849,133 $ 99,021,736 $ 45,827,397 $ -$
Fair Value Measurements Using
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
Significant
Other
Observable
Inputs (Level 2)
Significant
Unobservable
Inputs
(Level 3)
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, 2016, the Village was not
exposed to custodial credit risk on deposits.
Interest Rate Risk
Interest rate risk is the risk that the fair value of investments will decrease as a result of an increase in
interest rates. In accordance with its investment policy, the Village limits its exposure to interest rate risk
by structuring the portfolio so that securities or other allowable investments mature to meet cash
requirements for ongoing operations, thereby avoiding the need to sell securities or other allowable
investments on the open market prior to maturity and by investing operating funds primarily in shorter-
term securities or other allowable investments. The policy was put in place to provide liquidity for short
and long-term cash flow needs while providing a reasonable rate of return based on the current market.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2016
52
Note 2. Deposits and Investments (Continued)
Interest Rate Risk (Continued)
As of December 31, 2016 the Village had the following investments and maturities:
Fair Less Greater
Investment Type Value than 1 1-5 than 5
U.S. treasury obligations 1,699,122 $ 1,699,122 $ -$ -$
Totals 1,699,122 $ 1,699,122 $ -$ -$
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.
Interest Rate Risk (Continued)
As of December 31, 2016, 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 9,011,387 $ 1,990,560 $ 6,237,419 $ 783,408 $ -$
U.S. agency obligations 6,919,036 225,308 3,357,428 2,731,543 604,757
Municipal obligations 380,477 29,945 325,009 25,523 -
Corporate obligations 12,649,250 1,050,812 7,967,532 3,630,906 -
Totals 28,960,150 $ 3,296,625 $ 17,887,388 $ 7,171,380 $ 604,757 $
Investment Maturities (in years)
As of December 31, 2016, 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 4,220,121 $ 303,609 $ 3,307,323 $ 609,189 $ -$
U.S. agency obligations 20,733,926 958,879 7,437,339 12,337,708 -
Municipal obligations 5,144,708 - 2,962,368 1,940,678 241,662
Totals 30,098,755 $ 1,262,488 $ 13,707,030 $ 14,887,575 $ 241,662 $
Investment Maturities (in years)
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2016
53
Note 2. Deposits and Investments (Continued)
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, 2016, 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 BB Not Rated
U.S. agency obligations 27,652,962 $ -$ 26,629,880 $ -$ -$ -$ 1,023,082 $
Municipal obligations 5,525,185 29,944 3,206,125 515,846 - - 1,773,270
Corporate obligations 12,649,250 162,023 1,451,740 6,110,049 4,564,990 - 360,448
Totals 45,827,397 $ 191,967 $ 31,287,745 $ 6,625,895 $ 4,564,990 $ -$ 3,156,800 $
As of December 31, 2016, 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 Ba Not Rated
U.S. agency obligations 27,652,962 $ 26,381,805 $ -$ -$ -$ -$ 1,271,157 $
Municipal obligations 5,525,185 55,467 2,761,535 102,112 280,410 - 2,325,661
Corporate obligations 12,649,250 347,337 1,033,808 5,416,634 5,801,129 - 50,342
Totals 45,827,397 $ 26,784,609 $ 3,795,343 $ 5,518,746 $ 6,081,539 $ -$ 3,647,160 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2016
54
Note 2. Deposits and Investments (Continued)
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, 2016.
Concentration of Credit Risk (Continued)
The Pension Funds' investment policies require diversification of investment to avoid unreasonable risk.
As of December 31, 2016, 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 9,303,937 $
Federal Farm Credit Bank 8,778,184
18,082,121 $
The Police Pension Fund did not have any such investments as of December 31, 2016.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2016
55
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 2016
are intended to finance the Village’s subsequent fiscal year and have been recorded as deferred inflows
of resources. The Village has recognized the 2015 tax levy as revenue in fiscal year 2016.
Taxes Receivable
The following receivables are included in Receivables - Taxes on the Governmental Funds Balance
Sheet and Statement of Net Position - Governmental Activities:
Property 11,305,352 $
Sales 6,524,190
Utility 871,611
Income 884,346
Use 326,564
Franchise 208,160
Hotel 54,309
Amusement 16,970
Total taxes receivable 20,191,502 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2016
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 11,539 $
Tipping fees 35,916
911 surcharge fees 256,409
Grants 352,417
Interest 70,457
Licenses 147,756
Other 6,825
Total other receivables - Governmental Funds 881,319
Internal Service Funds and other adjustments 111,337
Total other receivables - Governmental Activities 992,656 $
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 106,022 $
Total due from other governments 106,022 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2016
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,
2016 Additions Deletions 2016
Capital assets not being depreciated
Construction in progress 80,256 $ 281,560 $ 309,175 $ 52,641 $
Land 21,076,696 - - 21,076,696
Land right of way 55,281,951 - - 55,281,951
Total capital assets not being
depreciated 76,438,903 281,560 309,175 76,411,288
Capital assets being depreciated
Buildings and improvements 94,980,275 556,160 - 95,536,435
Machinery and equipment 17,419,339 1,139,194 388,859 18,169,674
Infrastructure 154,026,622 5,123,475 722,540 158,427,557
Total capital assets being
depreciated 266,426,236 6,818,829 1,111,399 272,133,666
Less accumulated depreciation
Buildings and improvements 22,483,417 2,103,824 - 24,587,241
Machinery and equipment 9,408,221 1,438,082 360,151 10,486,152
Infrastructure 67,589,166 3,663,032 457,285 70,794,913
Total accumulated depreciation 99,480,804 7,204,938 817,436 105,868,306
Total capital assets being
depreciated, net 166,945,432 (386,109) 293,963 166,265,360
Governmental activities, capital
assets, net 243,384,335 $ (104,549) $ 603,138 $ 242,676,648 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2016
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,
2016 Additions Deletions 2016
Capital assets not being depreciated
Land 567,851 $ -$ -$ 567,851 $
Construction in progress - 122,796 - 122,796
Total capital assets not being
depreciated 567,851 122,796 - 690,647
Capital assets being depreciated
Buildings and improvements 2,796,294 - - 2,796,294
Water system 55,974,179 2,292,185 118,639 58,147,725
Sanitary sewer system 24,262,598 592,086 - 24,854,684
Equipment and vehicles 4,630,575 513,441 158,066 4,985,950
Total capital assets being
depreciated 87,663,646 3,397,712 276,705 90,784,653
Less accumulated depreciation
Buildings and improvements 969,851 78,359 - 1,048,210
Water system 18,817,366 1,127,858 118,639 19,826,585
Sanitary sewer system 5,951,476 482,494 - 6,433,970
Equipment and vehicles 3,848,492 233,630 158,066 3,924,056
Total accumulated depreciation 29,587,185 1,922,341 276,705 31,232,821
Total capital assets being
depreciated, net 58,076,461 1,475,371 - 59,551,832
Business-type activities, capital
assets, net 58,644,312 $ 1,598,167 $ -$ 60,242,479 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2016
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 4,148,743 $
Public safety 1,615,877
Public works 1,022,669
Development 417,649
Total governmental activity depreciation expense 7,204,938 $
Depreciation expense for the business-type activities are as follows:
Glenview Water Fund 1,302,131 $
Glenview Sanitary Sewer Fund 482,494
Wholesale Water Fund 62,816
Commuter Parking Fund 74,900
Total business-type activity depreciation expense 1,922,341 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2016
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,
2016 Additions Deletions 2016
Capital assets not being depreciated:
Land 5,426,987 $ -$ -$ 5,426,987 $
Capital assets being depreciated:
Buildings and improvements 26,901,546 166,945 - 27,068,491
Equipment and vehicles 128,107 - - 128,107
Library books and materials 7,205,263 720,190 634,250 7,291,203
Total capital assets being
depreciated 34,234,916 887,135 634,250 34,487,801
Less accumulated depreciation:
Buildings and improvements 3,179,111 554,725 3,733,836
Equipment and vehicles 113,620 2,070 115,690
Library books and materials 5,242,366 645,633 634,250 5,253,749
Total accumulated depreciation 8,535,097 1,202,428 634,250 9,103,275
Total capital assets being
depreciated, net 25,699,819 (315,293) - 25,384,526
Total capital assets, net 31,126,806 $ (315,293) $ -$ 30,811,513 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2016
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, 2016 was $1,938,607.
A reconciliation of the claims liability for the current year and that of the preceding year is reported below:
Unpaid claims liability - January 1, 2015 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
Claims incurred - calendar year 2016 888,396
Claims paid - calendar year 2016 (530,889)
Unpaid claims liability - December 31, 2016 1,938,607 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2016
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, 2016
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 2016:
Balance Balance Amounts
January 1,December 31, due within
2016 Additions Deductions 2016 one year
Governmental activities:
General obligation bonds 58,045,000 $ -$ 6,900,000 $ 51,145,000 $ 7,670,000 $
Loan payable 5,601,496 - 1,330,309 4,271,187 1,330,309
Capital lease payable 730,833 - 240,041 490,792 243,593
Unamortized
Bond discount (46,047) - (13,810) (32,237) -
Bond premium 2,985,392 - 365,484 2,619,908 -
Compensated absences 1,541,159 1,585,016 1,627,873 1,498,302 299,660
Claims payable 1,581,100 888,396 530,889 1,938,607 775,443
Net pension liability 71,421,036 32,632,989 18,837,812 85,216,213 -
Other postemployment benefits 2,635,519 735,316 431,979 2,938,856 -
Total governmental activities 144,495,488 35,841,717 30,250,577 150,086,628 10,319,005
Business-type activities:
General obligation bonds 765,000 - 765,000 - -
Notes payable 3,003,592 3,872,432 46,881 6,829,143 281,289
Unamortized
Bond discount (320) - (320) - -
Bond premium 3,277 - 3,277 - -
Compensated absences 63,930 95,907 89,073 70,764 14,153
Net pension liability 1,537,803 1,223,368 615,462 2,145,709 -
Total business-type activities 5,373,282 5,191,707 1,519,373 9,045,616 295,442
Total Village long-term
liabilities 149,868,770 $ 41,033,424 $ 31,769,950 $ 159,132,244 $ 10,614,447 $
Component Unit - Glenview Library
General obligation bonds 20,485,000 $ 15,326,600 $ 18,069,955 $ 17,741,645 $ 1,190,000 $
Unamortized
Bond premium - 2,696,945 192,639 2,504,306 -
Compensated absences 269,196 220,197 220,880 268,513 53,703
Net pension liability 2,094,473 1,753,764 772,248 3,075,989 -
Total component unit -
Glenview Library 22,848,669 $ 19,997,506 $ 19,255,722 $ 23,590,453 $ 1,243,703 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2016
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 2016:
Beginning Ending Due Within
Issue Balance Issuances Retirements Balance One Year
Governmental activities
$11,290,000 General Obligation
Bond Series 2009D 4,085,000 $ -$ 1,365,000 $ 2,720,000 $ 1,360,000 $
$18,090,000 General Obligation
Refunding Bond Series 2012A 18,090,000 - - 18,090,000 -
$14,575,000 General Obligation
Refunding Bond Series 2012B 13,375,000 - 1,245,000 12,130,000 1,295,000
$7,730,000 General Obligation
Refunding Bond Series 2012C 4,925,000 - 1,540,000 3,385,000 1,650,000
$6,065,000 General Obligation
Bond Series 2013A 5,580,000 - 245,000 5,335,000 245,000
$4,385,000 General Obligation
Bond Taxable Series 2013B 4,385,000 - - 4,385,000 585,000
$10,000,000 General Obligation
Bond Taxable Series 2015 7,605,000 - 2,505,000 5,100,000 2,535,000
Total governmental general
obligation bonded debt 58,045,000 - 6,900,000 51,145,000 7,670,000
$633,827 Illinois Environmental
Protection Agency Loan 377,746 - 24,371 353,375 24,371
$6,529,688 Taxable Term Loan 5,223,750 - 1,305,938 3,917,812 1,305,938
Total loans payable 5,601,496 - 1,330,309 4,271,187 1,330,309
Total governmental debt 63,646,496 $ -$ 8,230,309 $ 55,416,187 $ 9,000,309 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2016
65
Note 6. Long-Term Debt (Continued)
Changes in Long-Term Liabilities (Continued)
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 279,400 $ -$ 279,400 $ -$ -$
Glenview Water Fund 355,600 - 355,600 - -
635,000 - 635,000 - -
$1,200,000 General Obligation
Bond Taxable Series 2007B 130,000 - 130,000 - -
Total business-type general
obligation bonded debt 765,000 - 765,000 - -
$7,333,416 Draw/Term Note 3,003,592 3,872,432 46,881 6,829,143 281,289
Total business-type notes payable 3,003,592 3,872,432 46,881 6,829,143 281,289
Total business-type debt 3,768,592 $ 3,872,432 $ 811,881 $ 6,829,143 $ 281,289 $
Component Unit-Glenview Library
$26,300,000 General Obligation
Bond Series 2009A 20,485,000 - 18,069,955 2,415,045 1,190,000
$15,326,600 General Obligation
Refunding Bond Series 2016A - 15,326,600 - 15,326,600 -
Total component-unit debt 20,485,000 $ 15,326,600 $ 18,069,955 $ 17,741,645 $ 1,190,000 $
Total debt 87,900,088 $ 19,199,032 $ 27,112,145 $ 79,986,975 $ 10,471,598 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2016
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, 2016,
general obligation bonded debt is comprised of the following:
Remaining Balance
$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, 2018. Debt
is retired by proceeds from a Library property tax levy.2,415,045 $
$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.2,720,000
$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.12,130,000
$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.3,385,000
$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.5,335,000
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2016
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.5,100,000
$15,326,600 General Obligation Refunding Bond Series 2016A
Dated October 27, 2016. Due in annual installments from $1,100,000 to
$1,750,000 plus interest at 4.45% to 5.91% through December 1, 2029.
Debt is retired by proceeds from a Library property tax levy.15,326,600
Total general obligation bonded debt 68,886,645 $
At December 31, 2016, 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.6,829,143 $
At December 31, 2016, loans payable is comprised of the following:
$633,827 Illinois Environmental Protection Agency Loan
Dated October 1, 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.353,375
$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.3,917,812
Total loans payable 4,271,187
Total debt 79,986,975 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2016
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 a total of
$6,876,024 and made the first principal payment in the amount of $46,881 as of December 31, 2016.
The remaining amount will not be drawn.
Advance Refunding
On October 27, 2016, the Village issued $15,326,600 in General Obligation Refunding Bonds Series
2016A, with an interest rate of 1.97% in order to refund outstanding General Obligation Bonds, Series
2009A, with varying interest rates of 3.50 to 4.13 percent. The bond proceeds of $18,023,545 (including
a reoffering premium of $2,762,669, less underwriter’s discount of $65,724) were transferred to the
paying agent in order to advance refund the $16,915,000, 2019-2029, portion of the Series 2009A on the
October 27, 2016.
The Village advance refunded Series 2009A in order to take advantage of more favorable interest rates
which provide the Village with cost savings. The Village reduced its remaining 13 years of total debt
service payments for 2009A by approximately $1,724,064 and achieved an economic gain of
approximately $1,433,054 (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
2017 7,670,000 $ 1,613,995 $ 1,330,309 $ 73,486 $
2018 7,870,000 1,436,674 1,330,309 48,991
2019 8,125,000 1,231,791 1,330,309 24,495
2020 8,390,000 980,472 24,371 -
2021 8,660,000 715,882 24,371 -
2022-2026 7,865,000 1,084,550 121,854 -
2027-2031 1,760,000 377,600 109,664 -
2032-2037 805,000 48,600 - -
Totals 51,145,000 $ 7,489,564 $ 4,271,187 $ 146,972 $
General Obligation Bonds Loans Payable
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2016
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
2017 281,289 $ 136,583 $
2018 468,815 130,957
2019 656,340 121,581
2020 843,866 108,454
2021 1,031,392 91,577
2022-2025 3,547,441 160,404
Totals 6,829,143 $ 749,556 $
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
2017 1,190,000 $ 831,548 $
2018 1,225,045 725,333
2019 1,083,500 682,457
2020 1,132,750 628,282
2021 1,191,850 571,645
2022-2026 6,924,550 1,901,789
2027-2031 4,993,950 319,336
Totals 17,741,645 $ 5,660,390 $
Noncommitment Debt – Special Service Area Bonds
The special service area bonds outstanding as of December 31, 2016 totaled $2,416,895. 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, 2016
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, 2016 are shown as follows:
Due to/from Other Funds
Due From/To
Receivable Fund Payable Fund Other Funds
General Fund Nonmajor Governmental Funds 10,289 $
Capital Projects Fund Pension Trust Funds 12,449
General Fund Internal Service Fund 2,051
Component Unit General Fund 4,163
Total 28,952 $
Advances to/from Other Funds
Advance From/To
Advance From Advance To Other Funds
Special Tax Allocation Fund Village Permanent Fund 15,280,031 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2016
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, 2016 were as follows:
Transfers In Transfers Out Amount
General Special Tax Allocation 277,288 $
General Nonmajor - Enterprise 306,500
This transfer was to recover overhead costs associated with running the wholesale water fund.
General North Maine Water and Sewer 156,338
General Internal Service 250,000
This transfer was to fund a portion of the cost of operations in the Corporate Fund.
Nonmajor - Governmental General 6,896,820
Nonmajor - Governmental Nonmajor Enterprise 509,124
This transfer was a return on investment that is used to improve public roadways.
Village Permanent Nonmajor - Governmental 1,118,135
This transfer was to pay back a short term cash flow loan.
Glenview Water North Maine Water and Sewer 651,952
Glenview Water Glenview Sewer 9,377
This transfer was to fund a portion of the AMI debt payment.
10,175,534 $
This transfer was for the maintenance of the three main stem roads in the Glen Town Center. The
maintenance of these roads will be funded by the Special Tax Allocation Fund until the roads are
resurfaced, at which point the costs will be transferred to the Corporate Fund.
This transfer was to recover overhead costs that were shifted to the Corporate Fund upon the sale of the
North Maine Utility.
These transfers were to move property tax revenue to the correct fund to pay debt that was issued for the
Police Station as well as a transfer of revenue to pay debt that was issued for the expansion of the police
station to include village hall activities and services. In addition, to support the Capital Improvements
Program.
This transfer was to recover overhead costs that were shifted to the Water Fund upon the sale of the North
Maine Utility.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2016
72
Note 8. Tax Abatements
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 2016, the Village made payments to the retailer totaling $2,161,560
in accordance with the terms of this agreement.
In 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. In fiscal year 2016, the Village
made payments to the retailer totaling $191,248 in accordance with the terms of this agreement.
Village property tax revenues are impacted by certain reduced assessments granted by the County of
Cook in conjunction with the Village Board for the development or redevelopment of commercial and
industrial properties. The properties receive a real estate tax incentive through a reduction in the
assessment from the standard rate to a reduced rate for a period of time. Although tax revenues are not
reduced in the whole, those properties receive a reduced bill. The total estimated impact of these
incentives to the Village is a reduction in property taxes for those properties in the amount of $224,594.
Note 9. Joint Ventures
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.
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, 2016
73
Note 9. Joint Ventures (Continued)
Solid Waste Agency of Northern Cook County
The Village is a member of a joint venture, the 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 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.
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 $531,259 to SWANCC for the year
ended December 31, 2016. The payments are recorded in the General Fund. The Village does not have
an equity interest in SWANCC at December 31, 2016.
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, 2016
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, 2016, 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, 2016
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 2016 was 12.90%. For the fiscal year ended 2016, the Village
contributed $2,106,252 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, 2015. 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,
2015:
• 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 2.75%.
• Salary Increases were expected to be 3.75% to 14.50%, including inflation.
• The Investment Rate of Return was assumed to be 7.48%.
• 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, 2016
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%6.85%
International Equity 17.00%6.75%
Fixed Income 27.00%3.00%
Real Estate 8.00%5.75%
Alternative Investments 9.00%2.65 - 7.35%
Cash Equivalents 1.00%0.00%
Total 100.00%
Single Discount Rate
A Single Discount Rate of 7.48% 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 3.57%, and the resulting single discount rate is 7.48%.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2016
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 99,288,770 $ 89,229,484 $ 10,059,286 $
Changes for the year:
Service cost 1,811,084 - 1,811,084
Interest 7,334,465 - 7,334,465
Differences between expected and actual experience 89,850 - 89,850
Changes of assumptions 134,651 - 134,651
Contributions - employer - 2,190,329 (2,190,329)
Contributions - employee - 780,555 (780,555)
Net investment income - 442,220 (442,220)
Benefit payments, including refunds of
employee contributions (4,541,759) (4,541,759) -
Other changes - 554,737 (554,737)
Net changes 4,828,291 (573,918) 5,402,209
Balances at end of year measurement date 104,117,061 $ 88,655,566 $ 15,461,495 $
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 7.48%,
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
(6.48%)
Current Discount
Rate (7.48%)
1% Increase
(8.48%)
Village's net pension liability 30,128,662 $ 15,461,495 $ 3,514,069 $
The net pension liability of $15,461,495 as of December 31, 2016 is reported on the financial statements
as follows:
Total
Net Pension Liability 10,239,797 $ 1,756,466 $ 389,243 $ 2,145,709 $ 3,075,989 $ 15,461,495 $
Governmental
Activities
Component
Unit - Library
Total Business-
Type Activities
Business-Type Activities
Glenview Water
Fund
Glenview Sanitary
Sewer Fund
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2016
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, 2016, the Village recognized pension expense of $3,788,934. At
December 31, 2016, 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 765,997 $ -$
Changes of assumptions 1,818,799 -
Net differences between projected and actual
earnings on pension plan investments 5,684,322 -
Changes in component proportion between
governmental, business and component unit 129,731 129,731
Total deferred amounts to be recognized in
pension expense in future periods 8,398,849 $ 129,731 $
The deferred inflows of resources and deferred outflows of resources as of December 31, 2016 are
reported on the financial statements as follows:
Total
Deferred Outflows
of Resources 5,605,362 $ 939,393 $ 208,993 $ 1,148,386 $ 1,645,101 $ 8,398,849 $
Deferred Inflows of
Resources - 56,370 9,913 66,283 63,449 129,731
Governmental
Activities
Business-Type Activities
Total Business-
Type Activities
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:
2017 2,632,783 $
2018 2,632,783
2019 1,757,693
2020 1,245,859
2021 -
Thereafter -
8,269,118 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2016
79
Note 10. Employee Retirement Systems (Continued)
The Districts contributions to IMRF subsequent to the measurement date of the net pension liability
(December 31, 2015) amounted to $2,110,673 which is made up of and are reported as deferred outflows
of resources as follows:
Total
Deferred Outflows
of Resources 1,397,851 $ 239,778 $ 53,136 $ 292,914 $ 419,908 $ 2,110,673 $
Governmental
Activities
Business-Type Activities
Total Business-
Type Activities
Component
Unit - Library
Glenview Water
Fund
Glenview Sanitary
Sewer Fund
These amounts will be included in pension expense in fiscal year 2017.
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, 2016, 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 2016.
Plan Membership:
At December 31, 2016, the Police Pension Plan membership consisted of:
Membership
Retirees or beneficiaries currently receiving benefits 58
Inactive Plan members entitled to but not yet receiving benefits 2
Active Plan members 69
Total membership 129
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2016
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, 2016, the statutory minimum
which the Village was required to contribute was $2,086,018, or 30.4% 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, 2016
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, 2016:
Long-Term
Target Expected Real
Asset Class Asset Allocation Rate of Return
Cash 0.00%0.5%
Investment Grade Bonds 42.00%2.5%
High Yield Bonds 2.20%6.4%
U.S. Equity 39.50%9.1%
International Equity 10.10%6.6%
Emerging Markets Equity 0.70%10.3%
Alternatives 5.50%5.3%
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, 2016, the annual money-weighted rate of return on pension plan
investments, net of pension plan investment expense, was 5.80 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, 2016
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, 2016, are as follows:
Total pension liability 100,000,482 $
Plan fiduciary net position 72,005,465
Village's net pension liability 27,995,017 $
Plan fiduciary net position as a percentage of the
total pension liability 72.01%
The total pension liability was determined by an actuarial valuation as of December 31, 2016, using the
following methods and actuarial assumptions, applied to all periods included in the measurement:
Methods and Assumptions
Valuation date December 31, 2016
Actuarial cost method Entry Age Normal
Amortization method Level Dollar
Discount Rate used for the Total Pension Liability 6.75%
Long-Term Expected Rate of Return on Plan Assets 6.75%
Projected Individual Salary Increases 3.62 - 7.69%
Projected Increase in Total Payroll 0.00%
Inflation 2.50%
Mortality Table
Percent Married 85%
RP-2000 Combined Healthy Mortality, projected to
the valuation date with Scale BB for Healthy
Members. RP-2000 Disable Retiree, projected to
the valuation date with Scale BB for Disabled
Members.
In 2016 the Police Pension Plan reduced the long-term expected rate of return on assets to 6.75 percent
from 7.0 percent in 2015. The remaining actuarial assumptions used in the December 31, 2016 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, 2016
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 6.75 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 92,318,604 $ 68,756,535 $ 23,562,069 $
Changes for the year:
Service cost 1,601,139 - 1,601,139
Interest 6,436,191 - 6,436,191
Differences between expected and actual experience 215,928 - 215,928
Changes of assumptions 3,376,901 - 3,376,901
Contributions - employer - 2,497,041 (2,497,041)
Contributions - employee - 812,961 (812,961)
Contributions - Buy Back - -
Net investment income - 3,937,691 (3,937,691)
Benefit payments, including refunds of
employee contributions (3,948,281) (3,948,281) -
Administrative expense - (50,482) 50,482
Net changes 7,681,878 3,248,930 4,432,948
Balances at end of year measurement date 100,000,482 $ 72,005,465 $ 27,995,017 $
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 6.75
percent, as well as what the Village’s 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
(5.75%)
Current Discount
Rate (6.75%)
1% Increase
(7.75%)
Village's net pension liability 42,275,746 $ 27,995,017 $ 16,303,593 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2016
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, 2016, the Village recognized pension expense of $3,645,727. At
December 31, 2016, 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 179,940 $ 2,761,863 $
Changes of assumptions 3,413,348 -
Net differences between projected and actual
earnings on pension plan investments 4,072,376 -
Total deferred amounts to be recognized in
pension expense in future periods 7,665,664 $ 2,761,863 $
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:
2017 1,458,443 $
2018 1,458,443
2019 1,159,724
2020 228,386
2021 598,805
Thereafter -
4,903,801 $
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, 2016
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, 2016, 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 2016.
Plan Membership:
At December 31, 2016, the Firefighters’ Pension Plan membership consisted of:
Membership
Retirees or beneficiaries currently receiving benefits 88
Inactive Plan members entitled to but not yet receiving benefits 2
Active Plan members 79
Total membership 169
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, 2016
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, 2016, the
statutory minimum which the Village was required to contribute was $2,618,692, or 32.09% 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, 2016:
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2016
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%4.40%3.08%1.32%
U.S. Large-Cap Equities 38.50%9.60%3.08%6.52%
U.S. Small-Cap Equities 11.00%11.60%3.08%8.52%
International Equities 5.50%9.90%3.08%6.82%
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, 2016, the annual money-weighted rate of return on pension plan
investments, net of pension plan investment expense, was 6.64 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, 2016, are as follows:
Total pension liability 122,643,352 $
Plan fiduciary net position 75,661,953
Village's net pension liability 46,981,399 $
Plan fiduciary net position as a percentage of the
total pension liability 61.69%
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2016
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, 2016, using the
following methods and actuarial assumptions, applied to all periods included in the measurement:
Valuation date December 31, 2016
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)3.78%
Projected Individual Salary Increases 4.00 - 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 2016 Illinois Firefighters' 90%
Termination Rates L&A 2016 Illinois Firefighters' 80%
Percent Married 85%
In 2016 the Firefighter Pension Plan reduced the long-term expected rate of return on assets to 7.0
percent from 7.25 percent in 2015. In addition, the actuary utilized mortality improvements within the
mortality tables, reduced the projected salary increases from 4.25 percent to 4.0 percent where applicable
and updated disability and termination rates. The actuarial assumptions used in the December 31, 2016
valuation were based on the results of an actuarial assumption study for the period including various
municipal fiscal years ending 2007 – 2012.
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.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2016
89
Note 10. Employee Retirement Systems (Continued)
Firefighters’ 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
Firefighters’ 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 113,224,508 $ 71,792,553 $ 41,431,955 $
Changes for the year:
Service cost 1,890,273 - 1,890,273
Interest 7,728,761 - 7,728,761
Differences between expected and actual experience (2,178,162) - (2,178,162)
Changes of assumptions 7,605,249 - 7,605,249
Contributions - employer - 4,016,250 (4,016,250)
Contributions - employee - 782,515 (782,515)
Net investment income - 4,765,957 (4,765,957)
Benefit payments, including refunds of
employee contributions (5,627,277) (5,627,277) -
Administrative expense - (68,045) 68,045
Net changes 9,418,844 3,869,400 5,549,444
Balances at end of year measurement date 122,643,352 $ 75,661,953 $ 46,981,399 $
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 Village’s 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 63,913,909 $ 46,981,399 $ 33,086,599 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2016
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, 2016, the Village recognized pension expense of $6,332,974. At
December 31, 2016, 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 1,730,576 $ 1,852,577 $
Changes of assumptions 8,379,401 -
Net differences between projected and actual
earnings on pension plan investments 2,684,854 -
Total deferred amounts to be recognized in
pension expense in future periods 12,794,831 $ 1,852,577 $
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:
2017 2,451,443 $
2018 2,451,443
2019 2,422,508
2020 1,607,684
2021 1,449,431
Thereafter 559,745
10,942,254 $
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, 2016
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, 2016, 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, 2016
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, 2016.
Annual required contribution 771,549 $
Interest on net OPEB obligation 118,599
Adjustment to annual required contribution (154,832)
Annual OPEB cost 735,316
Contributions made 431,979
Increase in net OPEB Obligation 303,337
Net OPEB obligation at January 1, 2016 2,635,519
Net OPEB obligation at December 31, 2016 2,938,856 $
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 2016 is as follows:
Fiscal Annual Percentage Net
Year OPEB of OPEB OPEB
Ending Cost Contributed Obligation
12/31/16 735,316 $ 58.75 %2,938,856 $
12/31/15 740,015 58.37 2,635,519
12/31/14 977,226 40.74 2,293,641
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, 2016
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, 2016
94
Note 11. Other Postemployment Benefits (OPEB) (Continued)
Funding Status and Funding Progress
The funded status of the plan as of December 31, 2016, the date of the latest valuation, was as follows:
Actuarial Accrued Liability (AAL)
$ 8,444,479
Actuarial Value of Plan Assets
$ -
Unfunded Actuarial Accrued Liability (UAAL)
$ 8,444,479
Funded ratio (actuarial value of plan assets/AAL)
0.00%
Covered payroll (active plan members)
$ 25,567,450
UAAL as a percentage of covered payroll 33.0%
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, 2016
Total
Police Firefighters'Pension
Pension Pension Trust
Fund Fund Funds
Assets
Cash and cash equivalents 1,950,057 $ 562,581 $ 2,512,638 $
Investments
U.S. government and agency obligations 15,930,423 24,954,047 40,884,470
Municipal obligations 380,477 5,144,708 5,525,185
Corporate obligations 12,649,250 - 12,649,250
Equity mutual funds 40,929,786 44,860,442 85,790,228
Accrued interest receivable 182,804 180,114 362,918
Prepaid expenses 6,103 4,039 10,142
Total assets 72,028,900 75,705,931 147,734,831
Liabilities
Accrued expenses 23,435 43,978 67,413
Total Liabilities 23,435 43,978 67,413
Net Position
Restricted for pensions 72,005,465 $ 75,661,953 $ 147,667,418 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2016
95
Note 12. Pension Trust Funds – Financial Data (Continued)
Schedule of Changes in Fiduciary Plan Net Position as of December 31, 2016
Total
Police Firefighters'Pension
Pension Pension Trust
Fund Fund Funds
Additions
Contributions
Employer 2,497,041 $ 4,016,250 $ 6,513,291 $
Participant 812,961 782,515 1,595,476
Total contributions 3,310,002 4,798,765 8,108,767
Investment income
Net appreciation in fair value
of investments 1,783,035 2,514,745 4,297,780
Interest income 2,226,349 2,385,764 4,612,113
Less investment expense (71,693) (134,552) (206,245)
Net investment income 3,937,691 4,765,957 8,703,648
Total additions 7,247,693 9,564,722 16,812,415
Deductions
Administrative expenses 50,482 68,045 118,527
Retirement pensions 3,476,101 4,703,877 8,179,978
Widow pensions 302,482 412,618 715,100
Disability pensions 121,428 510,782 632,210
Children pensions 48,270 - 48,270
Total deductions 3,998,763 5,695,322 9,694,085
Change in net position 3,248,930 3,869,400 7,118,330
Net position restricted for pensions
Beginning 68,756,535 71,792,553 140,549,088
Ending 72,005,465 $ 75,661,953 $ 147,667,418 $
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2016
96
Note 13. Fund Balance Reporting
As of December 31, 2016, the Village’s fund balances were classified as follows:
General Fund
Special Tax
Allocation Fund
Village
Permanent Fund
Nonmajor
Governmental
Funds Totals
Nonspendable:
Prepaids -$ 19,633 $ -$ -$ 19,633 $
Land held for resale - - - - -
Inventory 155,205 - - - 155,205
Total Nonspendable 155,205 19,633 - - 174,838
Restricted purpose:
Public Safety - - - 283,415 283,415
Street Improvements - - - 1,451,108 1,451,108
Economic Development - - - 1,172,476 1,172,476
Total Restricted - - - 2,906,999 2,906,999
Assigned purpose:
Debt Service - - - 357,621 357,621
Capital Projects - - 29,078,693 1,905,229 30,983,922
Total Assigned - - 29,078,693 2,262,850 31,341,543
Total Unassigned 25,335,141 (8,935,926) - - 16,399,215
Total Fund Balances 25,490,346 $ (8,916,293) $ 29,078,693 $ 5,169,849 $ 50,822,595 $
Note 14. Deficit Fund Balance
The Special Tax Allocation Fund (TIF) has a deficit fund balance of $8,916,293 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, 2016
97
Note 16. New Accounting Pronouncements
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 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 has issued Statement No. 80, Blending Requirements for Certain Component Units, which
improves financial reporting by clarifying the financial statement presentation requirements for certain
component units. The requirements of this Statement are effective for reporting periods beginning after
June 15, 2016. The Village is currently evaluating GASB Statement No. 80 and, if applicable, will
implement in the appropriate period.
GASB has issued Statement No. 81, Irrevocable Split-Interest Agreements, which improves financial
reporting for irrevocable split-interest agreements by providing recognition and measurement guidance for
situations in which a government is beneficiary of the agreement. The requirements of this Statement are
effective for financial statements for periods beginning after December 15, 2016. The Village is currently
evaluating GASB Statement No. 81 and, if applicable, will implement in the appropriate period.
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, 2017
financial statements.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2016
98
Note 16. New Accounting Pronouncements (Continued)
GASB issued Statement No. 83, Certain Asset Retirement Obligations. The objective of this Statement is
to address accounting and financial reporting for certain asset retirement obligations (AROs). An ARO is
a legally enforceable liability associated with the retirement of a tangible capital asset. A government that
has legal obligations to perform future asset retirement activities related to its tangible capital assets
should recognize a liability based on the Guidance in this Statement. The requirements of this Statement
are effective for reporting periods beginning after June 15, 2018. The Village is currently evaluating
GASB Statement No. 83 and, if applicable, will implement in the appropriate period.
GASB issued Statement No. 84, Fiduciary Activities. The objective of this Statement is to improve
guidance regarding identification of fiduciary activities for accounting and financial reporting purposes and
how those activities should be reported. This Statement establishes criteria for identifying fiduciary
activities of all state and local governments. The requirements of this Statement are effective for
reporting periods beginning after December 15, 2018. The Village is currently evaluating GASB
Statement No. 84 and, if applicable, will implement in the appropriate period.
GASB issued Statement No. 85, Omnibus 2017. The objective of this Statement is to address practice
issues that have been identified during implementation and application of certain GASB Statements. This
Statement addresses a variety of topics including issues relating to blending component units, goodwill,
fair value measurement and application, and postemployment benefits (pensions and other
postemployment benefits (OPEB)). The requirements of this Statement are effective for reporting periods
beginning after June 15, 2017. The Village is currently evaluating GASB Statement No. 85 and, if
applicable, will implement in the appropriate period.
GASB issued Statement No. 86, Certain Debt Extinguishment Issues. The objective of this Statement is
to improve consistency in accounting and financial reporting for in-substance defeasance of debt by
providing guidance for transactions in which cash and other monetary assets acquired with only existing
resources (resources other than the proceeds of refunding debt) are placed in an irrevocable trust for the
sole purpose of extinguishing debt. This statement also improves accounting and financial reporting for
prepaid insurance on debt that is extinguished and notes to the financial statements for debt that is
defeased in substance. The requirements of this statement are effective for reporting periods beginning
after June 15, 2017. The Village is currently evaluating GASB Statement No. 86 and, if applicable, will
implement in the appropriate period.
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 $1,066,000 lease receivable as of fiscal year-end.
Village of Glenview, Illinois
Notes to Financial Statements
December 31, 2016
99
Note 17. Capital Leases (Continued)
The Village recognizes lease activity as follows:
Year Ending
December 31,Payments Principal Interest
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 156,000 144,433 11,567
2022-2023 286,000 277,282 8,718
Totals 1,066,000 $ 954,772 $ 111,228 $
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, 2016 is $490,792 and the future minimum lease obligations are as follows:
Year Ending
December 31,Payments Principal Interest
2017 250,857 $ 243,593 $ 7,264 $
2018 250,857 247,199 3,658
Totals 501,714 $ 490,792 $ 10,922 $
Future Obligations
Note 18. Subsequent Events
In January 2017, the Village purchased the property at 1850 Glenview Road for a purchase price of
$2,225,000 for the purpose of continued revitalization of the downtown area with a plan for a mixed-use
development.
In 2017, the Village entered into an agreement to sell the prior Village Hall property at 1225 Waukegan
Road to a developer for the purchase price of $2,461,000. The closing is scheduled for the summer of
2017 and the property will be developed into a residential housing development.
REQUIRED SUPPLEMENTARY INFORMATION
(Unaudited)
100
Village of Glenview, Illinois
Required Supplementary Information – GASB Statement No. 45
Schedule of Funding Progress
Last Seven Fiscal Years
Unfunded
Actuarial (assets in
Actuarial Accrued excess of)Percentage
Actuarial Value of Liability (AAL)AAL Funded Covered of Covered
Valuation Assets Entry Age (UAAL)Ratio Payroll Payroll
Date (a)(b)(b-a)(a/b)(c)((b-a)/c)
Other Postemployment Benefit Plan:
2016 -$ 8,444,479 $ 8,444,479 $ -%25,567,450 $ 33.03 %
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
101
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 31,2015 2014
Total pension liability
Service cost 1,811,084 $ 1,820,396 $
Interest on the total pension liability 7,334,465 6,687,409
Changes in benefit terms - -
Differences between expected and actual experience 89,850 1,332,409
Changes in assumptions 134,651 3,276,901
Benefit payments (4,541,759) (4,167,199)
Net change in total pension liability 4,828,291 8,949,916
Total pension liability—beginning 99,288,770 90,338,854
Total pension liability—ending (a)104,117,061 $ 99,288,770 $
Plan fiduciary net position
Contributions - Employer 2,190,329 $ 2,164,748
Contributions - Member 780,555 730,940
Pension plan net investment income 442,220 5,153,430
Benefit payments (4,541,759) (4,167,199)
Pension plan administrative expense 554,737 229,348
Net change in plan fiduciary net position (573,918) 4,111,267
Plan fiduciary net position—beginning 89,229,484 85,118,217
Plan fiduciary net position—ending (b)88,655,566 $ 89,229,484 $
Net pension liability - ending (a) - (b)15,461,495 $ 10,059,286 $
Plan fiduciary net position as a percentage of the
total pension liability 85.15%89.87%
Covered-Employee Payroll 17,008,659 $ 16,154,258 $
Employer net pension liability as a percentage of
covered-employee payroll 90.90%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.
102
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 31,2016 2015 2014
Total pension liability
Service cost 1,601,139 $ 2,025,748 $ 1,674,658 $
Interest on the total pension liability 6,436,191 6,368,405 5,490,500
Changes in benefit terms - - -
Differences between expected and actual experience 215,928 (4,142,795) -
Changes in assumptions 3,376,901 898,895 -
Contributions - Buy Back - 49,495 -
Benefit payments (3,948,281) (3,665,231) (3,274,551)
Net change in total pension liability 7,681,878 1,534,517 3,890,607
Total pension liability—beginning 92,318,604 90,784,088 86,893,481
Total pension liability—ending (a)100,000,482 $ 92,318,605 $ 90,784,088 $
Plan fiduciary net position
Contributions - Employer 2,497,041 $ 7,494,545 $ 1,953,494 $
Contributions - Member 812,961 728,210 686,942
Contributions - Buy Back - 49,495 -
Pension plan net investment income 3,937,691 (2,979) 2,799,434
Benefit payments (3,948,281) (3,665,231) (3,274,551)
Pension plan administrative expense (50,482) (51,118) (45,490)
Net change in plan fiduciary net position 3,248,930 4,552,922 2,119,829
Plan fiduciary net position—beginning 68,756,535 64,203,613 62,083,784
Plan fiduciary net position—ending (b)72,005,465 $ 68,756,535 $ 64,203,613 $
Net pension liability - ending (a) - (b)27,995,017 $ 23,562,070 $ 26,580,475 $
Plan fiduciary net position as a percentage of the
total pension liability 72.01%74.48%70.72%
Covered-Employee Payroll 7,123,493 $ 6,985,724 $ 7,055,218 $
Employer net pension liability as a percentage of
covered-employee payroll 393.00%337.29%376.75%
Annual money-weighted rate of return, net of
investment expense 5.80%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.
103
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 31,2016 2015 2014
Total pension liability
Service cost 1,890,273 $ 1,761,875 $ 1,977,800 $
Interest on the total pension liability 7,728,761 7,367,177 7,079,887
Changes in benefit terms - - -
Differences between expected and actual experience (2,178,162) 2,444,216 -
Changes in assumptions 7,605,249 2,698,985 -
Benefit payments (5,627,277) (5,327,947) (4,862,207)
Net change in total pension liability 9,418,844 8,944,306 4,195,480
Total pension liability—beginning 113,224,508 104,280,202 100,084,722
Total pension liability—ending (a)122,643,352 $ 113,224,508 $ 104,280,202 $
Plan fiduciary net position
Contributions - Employer 4,016,250 $ 10,309,348 $ 3,134,768 $
Contributions - Member 782,515 750,195 751,554
Pension plan net investment income 4,765,957 817,749 4,274,117
Benefit payments (5,627,277) (5,327,947) (4,862,207)
Pension plan administrative expense (68,045) (82,809) (44,601)
Net change in plan fiduciary net position 3,869,400 6,466,536 3,253,631
Plan fiduciary net position—beginning 71,792,553 65,326,017 62,072,386
Plan fiduciary net position—ending (b)75,661,953 $ 71,792,553 $ 65,326,017 $
Net pension liability - ending (a) - (b)46,981,399 $ 41,431,955 $ 38,954,185 $
Plan fiduciary net position as a percentage of the
total pension liability 61.69%63.41%62.64%
Covered-Employee Payroll 8,077,068 $ 7,926,515 $ 7,058,973 $
Employer net pension liability as a percentage of
covered-employee payroll 581.66%522.70%551.84%
Annual money-weighted rate of return, net of
investment expense 6.64%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.
104
Village of Glenview, Illinois
Required Supplementary Information
Schedule of Contributions
Illinois Municipal Retirement Fund (IMRF)12/31/2015 12/31/2014
Actuarially Determined Contribution 2,146,493 $ 2,168,470 $
Contributions in Relation to the Actuarial
Determined Contribution 2,190,329 2,164,748
Contribution Deficiency (excess)(43,836) $ 3,722 $
Covered-Employee Payroll 17,008,659 $ 16,255,396 $
Contributions as a Percentage of
Covered-Employee Payroll 12.88%13.32%
Notes 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.
Summary of Actuarial Methods and Assumptions used to in Calculation of the 2015 Contribution Rate*
Valuation Date:
Actuarial cost method Aggregate Entry Age Normal
Actuarial value of assets 5 Year Smoothed Market Value; 20% Corridor
Amortization method Level Percentage of Payroll, Closed
Remaining amortization period
Investment rate of return 7.50%
Salary increases 4.40% to 16%, including inflation
Projected Increase in Total Payroll None, Level Dollar Amortization
Consumer Price Index (Utilities)3.00%
Inflation Rate Included 3.00%
Mortality Table
*Based on the valuation assumptions used in the December 31, 2013 actuarial valuation.
Actuarially determined contribution rates are calculated as of December
31, each year, which are 12 months prior to the beginning of the fiscal
year in which contributions are reported.
28 Year closed period until remaining period reaches 15 years (then 15-
year rolling period)
RP-2000 Combined Healthy Mortality Table, adjusted for mortality
improvements to 2020 using projection scale AA. For men, 120% of the
table rates were used. For women, 92% of the table rates were used.
For disabled lives, the mortality rates are the rates applicable to non-
disabled lives set forward 10 years.
105
Village of Glenview, Illinois
Required Supplementary Information
Schedule of Contributions
Police Pension Plan 2016 2015 2014 2013
Actuarially Determined Contribution 3,224,497 $ 1,957,880 $ 1,921,637 $ 1,812,556 $
Contributions in Relation to the Actuarial
Determined Contribution 2,497,041 7,494,545 1,953,494 1,632,373
Contribution Deficiency (excess)727,456 $ (5,536,665) $ (31,857) $ 180,183 $
Covered-Employee Payroll 7,123,493 $ 6,985,724 $ 7,055,218 $ 6,359,627 $
Contributions as a Percentage of
Covered-Employee Payroll 35.05%107.28%27.69%25.67%
Firefighters' Pension Plan 2016 2015 2014 2013
Actuarially Determined Contribution 3,974,237 $ 3,739,508 $ 2,733,414 $ 2,985,212 $
Contributions in Relation to the Actuarial
Determined Contribution 4,016,250 10,309,348 3,134,768 3,116,164
Contribution Deficiency (excess)(42,013) $ (6,569,840) $ (401,354) $ (130,952) $
Covered-Employee Payroll 8,077,068 $ 7,926,515 $ 7,058,973 $ 6,737,119 $
Contributions as a Percentage of
Covered-Employee Payroll 49.72%130.06%44.41%46.25%
106
2012 2011 2010 2009 2008 2007
1,569,531 $ 1,347,587 $ 1,370,885 $ 933,477 $ 1,151,490 $ 1,081,786 $
1,812,692 1,767,986 1,802,629 1,168,933 1,393,628 1,157,437
(243,161) $ (420,399) $ (431,744) $ (235,456) $ (242,138) $ (75,651) $
6,136,593 $ 6,091,656 $ 5,855,973 $ 5,847,732 $ 6,112,516 $ 5,684,695 $
29.54%29.02%30.78%19.99%22.80%20.36%
2012 2011 2010 2009 2008 2007
2,420,075 $ 2,160,105 $ 1,941,060 $ 1,987,548 $ 1,712,540 $ 1,556,654 $
2,926,010 2,806,961 2,541,870 1,985,871 1,805,026 1,416,463
(505,935) $ (646,856) $ (600,810) $ 1,677 $ (92,486) $ 140,191 $
6,439,694 $ 6,926,020 $ 6,621,473 $ 6,519,762 $ 6,109,904 $ 5,893,686 $
45.44%40.53%38.39%30.46%29.54%24.03%
107
Village of Glenview, Illinois
General Fund
For the Year Ended December 31, 2016
Original Final Actual Variance
Revenues
Taxes
Property 11,387,098 $ 11,387,098 $ 11,550,920 $ 163,822 $
Other 14,929,435 14,929,435 14,367,678 (561,757)
Licenses and permits 2,366,000 2,366,000 2,088,538 (277,462)
Charges for services 9,556,975 9,556,975 10,030,784 473,809
Fines and forfeitures 174,377 174,377 209,062 34,685
Intergovernmental 27,367,878 27,367,878 26,164,152 (1,203,726)
Investment income 65,010 65,010 164,974 99,964
Other revenues 55,228 55,228 - (55,228)
Total revenues 65,902,001 65,902,001 64,576,108 (1,325,893)
Expenditures
General government 18,066,371 17,837,731 17,300,029 537,702
Public works 9,012,758 9,107,997 8,873,791 234,206
Public safety 29,322,982 29,394,342 29,506,980 (112,638)
Development 3,659,123 3,803,717 3,709,714 94,003
Capital outlay - 7,815 27,426 (19,611)
Total expenditures 60,061,234 60,151,602 59,417,940 733,662
Excess of revenues
over expenditures 5,840,767 5,750,399 5,158,168 (592,231)
Other financing sources (uses)
Transfers in 827,288 827,288 1,202,043 374,755
Transfers out (7,192,582) (7,192,582) (7,108,737) 83,845
Total other financing
sources (uses)(6,365,294) (6,365,294) (5,906,694) 458,600
Net change in fund balance (524,527) $ (614,895) $ (748,526) (133,631) $
Fund balance – beginning of year 26,238,872
Fund balance – end of year 25,490,346 $
Required Supplementary Information
Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual
Budget
108
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, 2016
Original
and Final
Budget Actual Variance
Revenues
Taxes
Property 30,574,651 $ 32,262,381 $ 1,687,730 $
Charges for services 204,945 204,945 -
Intergovernmental - 138,636 138,636
Investment income 25,000 188,773 163,773
Total revenues 30,804,596 32,794,735 1,990,139
Expenditures
General government 24,521,639 21,887,066 2,634,573
Debt service
Principal 6,715,938 6,715,938 -
Interest and fiscal charges 1,052,208 1,102,865 (50,657)
Capital outlay - 186,451 (186,451)
Total expenditures 32,289,785 29,892,320 2,397,465
Deficiency of revenues
over expenditures (1,485,189) 2,902,415 4,387,604
Other financing sources (uses)
(277,288) (277,288) -
Total other financing sources (uses)(277,288) (277,288) -
Net change in fund balance (1,762,477) $ 2,625,127 4,387,604 $
Fund balance – beginning of year (11,541,420)
Fund balance – end of year (8,916,293) $
Required Supplementary Information
Transfers out
Village of Glenview, Illinois
Required Supplementary Information (Unaudited)
Notes to Required Supplementary Information
December 31, 2016
109
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 8, 2015 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
Police Pension Fund 211,215 $
Fire Pension Fund 179,660
Village Permanent Fund 264,970
Corporate Purpose Bonds Fund 12,169
Capital Projects Fund 1,821,589
Glenview Water Fund 204,113
North Maine Water and Sewer Fund 35,588
Wholesale Water Fund 34,354
Insurance and Risk Fund 75,032
Village of Glenview, Illinois
Required Supplementary Information (Unaudited)
Notes to Required Supplementary Information
December 31, 2016
110
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, 2015
Actuarial cost method Entry Age Normal
Actuarial Value of Assets 5 Year Smoothed Market Value
Amortization method Level Dollar
Remaining Amortization Period 25 Years
Investment rate of return 7.00%
Projected Individual Salary Increases Age-Based
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 projected with Scale BB
to 2015 and with a 150% load for participants
under age 50.
Fire Pension Plan:
Methods and Assumptions
Valuation Date January 1, 2015
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 25 Years
Investment rate of return 7.00%
Projected Individual Salary Increases 4.00% to 7.50% varying by age net of inflation
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'
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.
111
2016 2015
Original Final Actual Actual
Local taxes
Property taxes for Village
Current year 1,489,525 $ 1,489,525 $ 1,520,280 $ 1,831,910 $
Prior year - - (35,548) (31,351)
Property taxes - debt service
Current year 1,762,500 1,762,500 1,833,820 1,827,597
Prior year - - (24,962) (14,877)
Property taxes - police and firefighters'
pension 6,454,932 6,454,932 6,561,211 5,755,971
Property taxes - other Village pensions 1,680,141 1,680,141 1,696,119 1,714,931
Total property taxes 11,387,098 11,387,098 11,550,920 11,084,181
Other taxes
Utility taxes
Natural gas 1,366,610 1,366,610 1,052,210 1,118,639
Electricity 2,395,441 2,395,441 2,249,217 2,189,830
Telecommunications 1,941,712 1,941,712 2,000,427 2,271,699
Hotel room tax 926,286 926,286 973,344 939,049
Amusement tax 115,000 115,000 110,333 90,947
Home rule sales tax 8,152,886 8,152,886 7,948,198 7,821,912
Business district tax 30,000 30,000 31,539 28,901
Miscellaneous taxes 1,500 1,500 2,410 -
Total other taxes 14,929,435 14,929,435 14,367,678 14,460,977
Total local taxes 26,316,533 26,316,533 25,918,598 25,545,158
Licenses and permits
Business licenses 90,000 90,000 82,698 80,880
Liquor licenses 200,000 200,000 218,192 203,817
Building permits 2,000,000 2,000,000 1,655,398 2,543,724
Contractors' fees 50,000 50,000 54,933 55,263
Engineering fees - - 51,551 298,110
Oversized vehicle permits 16,000 16,000 17,835 18,680
Plan fees 10,000 10,000 7,931 7,824
Total licenses and permits 2,366,000 2,366,000 2,088,538 3,208,298
(Continued)
Budget
Village of Glenview, Illinois
General Fund
Schedule of Detailed Revenues and Other Financing Sources - Budget and Actual
For the Year Ended December 31, 2016
(With comparative totals for the year ended December 31, 2015)
112
2016 2015
Original Final Actual Actual
Fees, fines, and service charges
Charges for services
Dog impound fees 2,200 $ 2,200 $ 1,065 $ 1,410 $
Lease fees 690,947 690,947 770,190 790,622
Natural gas franchise fees 43,584 43,584 42,447 42,739
Cable franchise fees 690,030 690,030 826,696 785,341
Bidder fees 3,000 3,000 2,040 900
Development fees 3,972 3,972 3,314 88,700
Insurance reimbursements 1,641,250 1,641,250 1,761,370 1,676,958
Copies 4,000 4,000 3,481 3,529
Special event fees 1,200 1,200 1,275 675
Inspection fees 21,000 21,000 16,320 18,020
Refuse and recycling charges
Bin sales 1,000 1,000 529 353
Yard waste sticker sales 6,000 6,000 3,299 4,676
Tipping fees 840,000 840,000 848,417 877,449
SWANCC recycling incentive - - - 34,361
Joint dispatch charges
911 surcharge 283,051 283,051 638,649 277,837
Wireless 911 surcharge 352,261 352,261 9,718 368,607
Fire communication sub. service - - 15,889 15,889
Dispatch services 4,430,802 4,430,802 4,463,728 4,627,904
Other service charges
Police extra duty 197,760 197,760 182,200 209,891
Reimbursements 70,000 70,000 118,574 30,592
Supervision 7,606 7,606 5,681 6,104
Annexation fee 6,612 6,612 8,349 36,000
Miscellaneous 40,000 40,000 68,487 1,629,907
Administrative fees for governmental funds
Library Fund 135,700 135,700 128,370 136,000
SWANCC host community fees 85,000 85,000 110,696 94,594
Total charges for services 9,556,975 9,556,975 10,030,784 11,759,058
(Continued)
(With comparative totals for the year ended December 31, 2015)
Budget
Village of Glenview, Illinois
General Fund
Schedule of Detailed Revenues and Other Financing Sources - Budget and Actual (Continued)
For the Year Ended December 31, 2016
113
2016 2015
Original Final Actual Actual
Fees, fines, and service charges (continued)
Fines and forfeitures
Traffic fines 103,977 $ 103,977 $ 97,293 $ 105,432 $
Other fines 70,400 70,400 111,769 59,241
Total fines and forfeitures 174,377 174,377 209,062 164,673
Total fees, fines, and service
charges 9,731,352 9,731,352 10,239,846 11,923,731
Intergovernmental
Glenbrook Fire Protection District 2,322,217 2,322,217 2,342,799 2,192,514
Village of Golf fire protection services 157,912 157,912 164,228 157,912
Road and bridge taxes
Current year 389,500 389,500 453,380 394,501
Prior year - - (3,595) (2,740)
Sales tax 17,071,696 17,071,696 16,189,240 15,635,705
Property replacement tax 231,849 231,849 214,012 211,495
Illinois income tax 4,752,461 4,752,461 4,293,596 4,832,506
Local use tax 1,034,218 1,034,218 1,085,498 994,035
Make-whole payment 1,408,025 1,408,025 1,424,994 1,352,890
Other intergovernmental
Grant proceeds - - - 24,432
Total intergovernmental 27,367,878 27,367,878 26,164,152 25,793,250
Investment income
Interest - savings 14,010 14,010 76,024 25,821
Interest - investments 51,000 51,000 88,950 45,590
Total investment income 65,010 65,010 164,974 71,411
(Continued)
For the Year Ended December 31, 2016
(With comparative totals for the year ended December 31, 2015)
Budget
Village of Glenview, Illinois
General Fund
Schedule of Detailed Revenues and Other Financing Sources - Budget and Actual (Continued)
114
2016 2015
Original Final Actual Actual
Other revenues
Miscellaneous 55,228 $ 55,228 $ -$ 7,055 $
Total other revenues 55,228 55,228 - 7,055
Total revenues before other
financing sources 65,902,001 65,902,001 64,576,108 66,548,903
Other financing sources
Proceeds from capital lease - - - 981,451
Transfers in
North Maine Water and Sewer Fund - - 156,338 206,601
Wholesale Water Fund 300,000 300,000 306,500 300,000
Special Tax Allocation Fund 277,288 277,288 277,288 294,178
Insurance and Risk Fund 250,000 250,000 250,000 232,540
Capital Projects Fund - - 200,000 1,800,000
Corporate Purpose Bonds Fund - - 11,917 -
Total other financing sources 827,288 827,288 1,202,043 3,814,770
Total revenues and other
financing sources 66,729,289 $ 66,729,289 $ 65,778,151 $ 70,363,673 $
Schedule of Detailed Revenues and Other Financing Sources - Budget and Actual (Continued)
For the Year Ended December 31, 2016
(With comparative totals for the year ended December 31, 2015)
Budget
Village of Glenview, Illinois
General Fund
115
2016 2015
Original Final Actual Actual
General government
Village Board of Trustees
President and Board
Personnel 8,720 $ 8,720 $ 8,767 $ 8,740 $
Contractual services 48,300 48,300 40,592 40,604
Commodities - - 379 -
Other charges 900 900 - -
Total President and Board 57,920 57,920 49,738 49,344
Special board appropriations
Personnel 53,042 52,842 40,794 45,620
Contractual services 292,709 297,912 298,930 284,843
Total special board appropriations 345,751 350,754 339,724 330,463
Total Village Board of Trustees 403,671 408,674 389,462 379,807
Village Manager's office
Administration division
Personnel 716,851 808,982 859,236 1,031,086
Contractual services 59,073 105,973 105,346 68,189
Other charges 8,400 16,000 12,505 9,083
Total administration division 784,324 930,955 977,087 1,108,358
Human resources division
Personnel 212,761 227,250 235,154 230,964
Contractual services 80,702 92,702 103,460 59,433
Commodities 1,500 1,500 1,149 1,276
Other charges 1,602,100 1,652,820 1,644,510 1,430,210
Total human resources division 1,897,063 1,974,272 1,984,273 1,721,883
(Continued)
Village of Glenview, Illinois
General Fund
Schedule of Detailed Expenditures and Other Financing Uses - Budget and Actual
For the Year Ended December 31, 2016
(With comparative totals for the year ended December 31, 2015)
Budget
116
2016 2015
Original Final Actual Actual
General government (continued)
Village Manager's office (continued)
Communications division
Personnel 150,200 $ 151,700 $ 152,406 $ 150,258 $
Contractual services 74,875 82,525 67,955 72,896
Commodities 2,410 2,410 1,942 1,357
Other charges 1,900 1,900 1,195 405
Total communications division 229,385 238,535 223,498 224,916
Legal
Contractual services 584,200 587,200 523,752 572,621
Total legal 584,200 587,200 523,752 572,621
Joint Dispatch division
Personnel 4,571,939 4,578,217 4,512,376 4,440,539
Contractual services 175,813 175,813 160,445 141,337
Commodities 29,449 29,449 28,791 28,939
Other charges 235,541 235,541 208,977 164,375
Total joint dispatch division 5,012,742 5,019,020 4,910,589 4,775,190
Total Village Manager's office 8,507,714 8,749,982 8,619,199 8,402,968
Administration services
Administration division
Personnel 347,877 384,392 384,519 376,810
Contractual services 2,181 2,181 2,746 3,157
Other charges 3,435 3,435 3,296 1,949
Total administration division 353,493 390,008 390,561 381,916
(Continued)
Village of Glenview, Illinois
General Fund
Schedule of Detailed Expenditures and Other Financing Uses - Budget and Actual (Continued)
For the Year Ended December 31, 2016
(With comparative totals for the year ended December 31, 2015)
Budget
117
2016 2015
Original Final Actual Actual
General government (continued)
Administration services (continued)
Finance
Personnel 677,460 $ 705,539 $ 720,059 $ 719,878 $
Contractual services 998,093 998,093 983,586 1,203,381
Commodities 1,150 1,150 122 1,839
Other charges 14,145 14,145 5,342 11,814
Total finance 1,690,848 1,718,927 1,709,109 1,936,912
General government
Personnel 333,800 22,135 - -
Contractual services 2,902,819 2,993,185 2,892,285 2,679,417
Commodities 57,670 59,791 51,963 30,283
Other charges 452,167 120,028 (44,320) 224,243
Total general government 3,746,456 3,195,139 2,899,928 2,933,943
Resolution center
Personnel 382,879 393,691 373,526 489,457
Contractual services 56,853 56,853 52,546 5,358
Other charges 1,695 1,695 156 -
Total resolution center 441,427 452,239 426,228 494,815
CADD operations
Personnel 93,446 93,446 93,799 93,994
Contractual services 204,130 204,130 191,701 198,165
Other charges 175 175 - 737
Total CADD operations 297,751 297,751 285,500 292,896
Information technology (IT)
Contractual services 2,097,724 2,079,776 2,048,722 2,055,196
Commodities 187,521 205,469 202,501 141,062
Other charges 339,766 339,766 328,819 262,426
Total information technology 2,625,011 2,625,011 2,580,042 2,458,684
Total administration services 9,154,986 8,679,075 8,291,368 8,499,166
For the Year Ended December 31, 2016
(With comparative totals for the year ended December 31, 2015)
Budget
Village of Glenview, Illinois
Schedule of Detailed Expenditures and Other Financing Uses - Budget and Actual (Continued)
General Fund
118
2016 2015
Original Final Actual Actual
Public works department
Personnel 3,147,332 $ 3,231,570 $ 3,178,907 $ 3,606,085 $
Contractual services 3,296,709 3,115,420 3,049,828 3,173,751
Commodities 1,213,942 1,414,400 1,357,392 1,272,274
Other charges 1,079,775 1,071,607 1,012,664 856,678
Capital outlay 275,000 275,000 275,000 351,984
Total public works department 9,012,758 9,107,997 8,873,791 9,260,772
Public safety
Police department
Personnel 9,193,456 9,295,311 9,522,986 9,541,097
Contractual services 647,016 652,491 666,406 412,949
Commodities 133,530 131,386 123,360 114,251
Other charges 3,149,641 3,156,741 3,088,486 2,499,986
Total police department 13,123,643 13,235,929 13,401,238 12,568,283
Fire department
Personnel 10,613,294 10,574,489 10,552,886 10,397,532
Contractual services 331,141 331,841 315,445 214,195
Commodities 243,825 241,704 207,393 314,522
Other charges 5,011,079 5,010,379 5,030,018 4,830,296
Total fire department 16,199,339 16,158,413 16,105,742 15,756,545
Total public safety 29,322,982 29,394,342 29,506,980 28,324,828
(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, 2016
(With comparative totals for the year ended December 31, 2015)
119
2016 2015
Original Final Actual Actual
Community Development department
Administration
Personnel 295,454 $ 374,918 $ 319,412 $ 393,336 $
Contractual services 34,242 33,242 34,335 38,465
Commodities 3,300 4,300 2,688 4,155
Other charges 28,320 28,320 20,268 13,228
Total administration 361,316 440,780 376,703 449,184
Inspection services
Personnel 837,074 857,252 840,699 804,776
Contractual services 872,050 872,050 826,807 861,169
Commodities 6,400 6,400 4,052 5,584
Other charges 36,698 36,698 27,035 34,591
Total inspection services 1,752,222 1,772,400 1,698,593 1,706,120
Planning
Personnel 399,583 432,391 480,466 416,545
Contractual services 229,680 229,680 221,371 235,859
Commodities 400 400 337 428
Other charges 27,050 27,050 23,384 24,789
Total planning 656,713 689,521 725,558 677,621
(Continued)
(With comparative totals for the year ended December 31, 2015)
Village of Glenview, Illinois
General Fund
Schedule of Detailed Expenditures and Other Financing Uses - Budget and Actual (Continued)
For the Year Ended December 31, 2016
Budget
120
2016 2015
Original Final Actual Actual
Community Development department (continued)
Engineering
Personnel 307,628 $ 307,628 $ 291,951 $ 293,250 $
Contractual services 347,000 347,000 340,941 534,284
Other charges 8,988 8,988 13,380 10,435
Total engineering 663,616 663,616 646,272 837,969
Capital projects
Personnel 225,256 237,400 262,588 241,918
Total capital projects 225,256 237,400 262,588 241,918
Total community development 3,659,123 3,803,717 3,709,714 3,912,812
Total current expenditures 60,061,234 60,143,787 59,390,514 58,780,353
Capital outlay
Machinery and equipment - 7,815 27,426 2,066,831
Total expenditures 60,061,234 60,151,602 59,417,940 60,847,184
Other financing uses
Transfers out
Corporate Purpose Debt Service Fund 2,192,582 2,192,582 2,238,583 2,269,836
Capital Projects Fund 5,000,000 5,000,000 4,870,154 11,704,643
Total other financing uses 7,192,582 7,192,582 7,108,737 13,974,479
Total expenditures and
other financing uses 67,253,816 $ 67,344,184 $ 66,526,677 $ 74,821,663 $
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, 2016
(With comparative totals for the year ended December 31, 2015)
121
2016 2015
Original Final Actual Actual
Revenues
Local taxes
Property taxes - incremental 30,574,651 $ 30,574,651 $ 32,262,381 $ 30,479,916 $
Intergovernmental - miscellaneous - - 138,636 41,356
Charges for services 204,945 204,945 204,945 24,945
Investment income 25,000 25,000 188,773 130,933
Total revenues 30,804,596 30,804,596 32,794,735 30,677,150
Expenditures
General government
Personnel 423,435 423,435 361,235 411,752
Contractual services 23,722,652 23,713,477 21,175,105 20,074,483
Commodities 127,553 136,728 104,214 92,845
Other charges 247,999 247,999 246,512 295,402
Capital outlay - - 186,451 -
Debt service
Bond issuance costs - - - 20,250
Principal 6,715,938 6,715,938 6,715,938 16,510,938
Interest and fiscal charges 1,052,208 1,052,208 1,102,865 1,389,472
Total expenditures 32,289,785 32,289,785 29,892,320 38,795,142
Excess (deficiency) of revenues over
expenditures (1,485,189) (1,485,189) 2,902,415 (8,117,992)
Other financing sources (uses)
Issuance of debt - - - 10,000,000
Transfers out
General Fund (277,288) (277,288) (277,288) (294,178)
Total other financing sources (uses)(277,288) (277,288) (277,288) 9,705,822
Net change in fund balance (1,762,477) $ (1,762,477) $ 2,625,127 1,587,830
Fund balance - beginning (11,541,420) (13,129,250)
Fund balance - ending (8,916,293) $ (11,541,420) $
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, 2016
(With comparative totals for the year ended December 31, 2015)
122
Original
and Final 2016 2015
Budget Actual Actual
Revenues
Charges for services 156,000 $ -$ -$
Investment income 25,000 159,325 81,353
Total revenues 181,000 159,325 81,353
Expenditures
Development
Contractual services - 67,977 -
Total expenditures - 67,977 -
Excess of revenues over
expenditures 181,000 91,348 81,353
Other financing sources (uses)
Transfers in
Capital Projects Fund - 2,225,832 -
North Maine Water and Sewer Fund - - 10,000,000
Transfers out
Capital Projects Fund (850,704) (1,107,697) (5,515,596)
Facility Replacement Fund - - (9,424)
Glenview Sanitary Fund (60,000) - -
Total other financing sources (uses)(910,704) 1,118,135 4,474,980
Net change in fund balance (729,704) $ 1,209,483 4,556,333
Fund balance - beginning 27,869,210 23,312,877
Fund balance - ending 29,078,693 $ 27,869,210 $
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, 2016
(With comparative totals for the year ended December 31, 2015)
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
Capital Projects Fund – to account for revenues and expenditures involved with improvements
throughout the Village which are not included in other capital project funds.
Glen Capital Projects Fund – (formerly called the “1995 GNAS Bond Projects Fund”) – to account for
expenditures related to various development projects related to The Glen.
123
Village of Glenview, Illinois
Nonmajor Governmental Funds
Combining Balance Sheet
December 31, 2016
Total
Special Debt Capital Nonmajor
Revenue Service Projects Governmental
Funds Fund Funds Funds
Cash and cash equivalents 2,862,326 $ 367,910 $ 2,704,979 $ 5,935,215 $
Investments - - 1,699,122 1,699,122
Receivables
Accounts, net - - 18,000 18,000
Other - - 353,174 353,174
Due from other funds - 1,628 - 1,628
Due from other governments 106,022 - - 106,022
Total assets 2,968,348 $ 369,538 $ 4,775,275 $ 8,113,161 $
Liabilities
Accounts payable 61,066 $ -$ 1,643,285 $ 1,704,351 $
Accrued payroll 283 - - 283
Other payables - - 1,050,898 1,050,898
Due to other funds - 11,917 - 11,917
Unearned revenue - - - -
Total liabilities 61,349 11,917 2,694,183 2,767,449
Deferred Inflows of Resources
Unavailable grant revenue - - 175,863 175,863
Total deferred inflows of resources - - 175,863 175,863
Fund balances
Restricted 2,906,999 - - 2,906,999
Assigned - 357,621 1,905,229 2,262,850
Total fund balances 2,906,999 357,621 1,905,229 5,169,849
Total liabilities, deferred
inflows of resources
and fund balances 2,968,348 $ 369,538 $ 4,775,275 $ 8,113,161 $
Assets
124
Village of Glenview, Illinois
Nonmajor Governmental Funds
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances
For the Year Ended December 31, 2016
Total
Special Debt Capital Nonmajor
Revenue Service Projects Governmental
Funds Fund Funds Funds
Revenues
Taxes
Property 859,557 $ -$ -$ 859,557 $
Intergovernmental 1,718,695 - 1,182,484 2,901,179
Investment income 16,393 5,722 9,049 31,164
Other revenue - - 2,503,274 2,503,274
Total revenues 2,594,645 5,722 3,694,807 6,295,174
Expenditures
Current
Public safety 94,105 - - 94,105
Development 38,059 - 176,383 214,442
Capital outlay 1,633,136 - 11,617,323 13,250,459
Debt service
Principal - 1,490,000 24,371 1,514,371
Interest and fiscal charges 116,833 704,084 - 820,917
Total expenditures 1,882,133 2,194,084 11,818,077 15,894,294
Deficiency of revenues over
expenditures 712,512 (2,188,362) (8,123,270) (9,599,120)
Transfers in - 2,226,666 6,486,975 8,713,641
Transfers out - - (2,425,832) (2,425,832)
Total other financing sources (uses)- 2,226,666 4,061,143 6,287,809
Net change in fund balances 712,512 38,304 (4,062,127) (3,311,311)
Fund balances – beginning 2,194,487 319,317 5,967,356 8,481,160
Fund balances – ending 2,906,999 $ 357,621 $ 1,905,229 $ 5,169,849 $
Other financing sources (uses)
125
Village of Glenview, Illinois
Nonmajor Special Revenue Funds
Combining Balance Sheet
December 31, 2016
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 1,372,564 $ 250,154 $ 33,261 $ 1,206,347 $ 2,862,326 $
Due from other governments 106,022 - - - 106,022
Total assets 1,478,586 $ 250,154 $ 33,261 $ 1,206,347 $ 2,968,348 $
Liabilities
Accounts payable 27,478 $ -$ -$ 33,588 $ 61,066 $
Accrued payroll - - - 283 283
Total liabilities 27,478 - - 33,871 61,349
Fund balances
Restricted 1,451,108 250,154 33,261 1,172,476 2,906,999
Total fund balances 1,451,108 250,154 33,261 1,172,476 2,906,999
Total liabilities and
fund balances 1,478,586 $ 250,154 $ 33,261 $ 1,206,347 $ 2,968,348 $
Liabilities and Fund Balances
Assets
126
Village of Glenview, Illinois
Nonmajor Special Revenue Funds
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances
For the Year Ended December 31, 2016
Police
Foreign Department Total
Motor Fire Special Waukegan Nonmajor
Fuel Tax Insurance Account Golf TIF Special Revenue
Fund Fund Fund Fund Funds
Revenues
Taxes
Property -$ -$ -$ 859,557 $ 859,557 $
Intergovernmental 1,607,065 111,630 - - 1,718,695
Investment income 6,715 1,620 284 7,774 16,393
Total revenues 1,613,780 113,250 284 867,331 2,594,645
Expenditures
Public safety - 94,105 - - 94,105
Development - - - 38,059 38,059
Capital outlay 1,356,015 - 34 277,087 1,633,136
Debt service
Interest and other charges - - - 116,833 116,833
Total expenditures 1,356,015 94,105 34 431,979 1,882,133
Excess of revenues
over expenditures 257,765 19,145 250 435,352 712,512
Net change in fund balances 257,765 19,145 250 435,352 712,512
Fund balances – beginning 1,193,343 231,009 33,011 737,124 2,194,487
Fund balances – ending 1,451,108 $ 250,154 $ 33,261 $ 1,172,476 $ 2,906,999 $
127
Original and 2016 2015
Final Budget Actual Actual
Revenues
Intergovernmental
Motor fuel tax 1,460,163 $ 1,607,065 $ 1,557,902 $
Investment income 5,000 6,715 3,605
Total revenues 1,465,163 1,613,780 1,561,507
Expenditures
Public works
Contractual Services 1,460,163 1,356,015 1,620,513
Total expenditures 1,460,163 1,356,015 1,620,513
Net change in fund balance 5,000 $ 257,765 (59,006)
Fund balance - beginning 1,193,343 1,252,349
Fund balance - ending 1,451,108 $ 1,193,343 $
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, 2016
(With comparative totals for the year ended December 31, 2015)
128
Original and 2016 2015
Final Budget Actual Actual
Revenues
Intergovernmental
Foreign fire insurance tax 83,000 $ 111,630 $ 116,575 $
Investment income 800 1,620 1,034
Total revenues 83,800 113,250 117,609
Expenditures
Public safety
Contractual services 10,830 12,266 11,181
Commodities 99,170 81,839 85,341
Total expenditures 110,000 94,105 96,522
Net change in fund balance (26,200) $ 19,145 21,087
Fund balance - beginning 231,009 209,922
Fund balance - ending 250,154 $ 231,009 $
Village of Glenview, Illinois
Foreign Fire Insurance Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
For the Year Ended December 31, 2016
(With comparative totals for the year ended December 31, 2015)
129
Original and 2016 2015
Final Budget Actual Actual
Revenues
Investment income 95 $ 284 $ 215 $
Other revenue - - 710
Total revenues 95 284 925
Expenditures
Capital outlay 32,834 34 -
Total expenditures 32,834 34 -
Net change in fund balance (32,739) $ 250 925
Fund balance - beginning 33,011 32,086
Fund balance - ending 33,261 $ 33,011 $
(With comparative totals for the year ended December 31, 2015)
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, 2016
130
2016 2015
Original Final Actual Actual
Revenues
Local taxes
Property taxes - incremental 732,258 $ 732,258 $ 859,557 $ -$
Investment income 600 600 7,774 5,934
Total revenues 732,858 732,858 867,331 5,934
Expenditures
Current
Development
Personnel 8,315 8,315 8,150 -
Contractual 113,871 113,871 29,909 13,125
Debt service
Interest and other charges 116,833 116,833 116,833 116,832
Capital outlay 247,664 523,762 277,087 51,500
Total expenditures 486,683 762,781 431,979 181,457
Net change in fund balance 246,175 $ (29,923) $ 435,352 (175,523)
Fund balance - beginning 737,124 912,647
Fund balance - ending 1,172,476 $ 737,124 $
(With comparative totals for the year ended December 31, 2015)
Budget
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, 2016
131
Original
and Final 2016 2015
Budget Actual Actual
Revenues
Investment income 2,508 $ 5,722 $ 5,385 $
Total revenues 2,508 5,722 5,385
Expenditures
Debt service
Principal 1,490,000 1,490,000 1,440,000
Interest and fiscal charges 703,832 704,084 756,882
Total expenditures 2,193,832 2,194,084 2,196,882
Deficiency of revenues over
expenditures (2,191,324) (2,188,362) (2,191,497)
Other financing sources
Transfers in from other funds
General Fund 2,192,582 2,238,583 2,269,836
Transfers out to other funds
General Fund - (11,917) -
Total other financing sources 2,192,582 2,226,666 2,269,836
Net change in fund balance 1,258 $ 38,304 78,339
Fund balance - beginning 319,317 240,978
Fund balance - ending 357,621 $ 319,317 $
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, 2016
(With comparative totals for the year ended December 31, 2015)
132
Village of Glenview, Illinois
Nonmajor Capital Project Funds
Combing Balance Sheet
December 31, 2016
Glen Total
Capital Capital Nonmajor
Projects Projects Capital Project
Fund Fund Funds
Assets
Cash and cash equivalents 1,897,282 $ 807,697 $ 2,704,979 $
Investments - 1,699,122 1,699,122
Receivables
Accounts, net 18,000 - 18,000
Other - grant receivables 292,686 59,731 352,417
Other - interest - 757 757
2,207,968 $ 2,567,307 $ 4,775,275 $
Liabilities
Accounts payable 1,504,996 $ 138,289 $ 1,643,285 $
Other payables 62,167 988,731 1,050,898
Total liabilities 1,567,163 1,127,020 2,694,183
Deferred Inflows of Resources
Unavailable grant revenue 153,063 22,800 175,863
Total deferred inflows of resources 153,063 22,800 175,863
Fund balances
Assigned 487,742 1,417,487 1,905,229
Total fund balances 487,742 1,417,487 1,905,229
Total liabilities, deferred
inflows of resources
and fund balances 2,207,968 $ 2,567,307 $ 4,775,275 $
133
Village of Glenview, Illinois
Nonmajor Capital Project Fund
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances
For the Year Ended December 31, 2016
Glen Total
Capital Capital Nonmajor
Projects Projects Capital Project
Funds Fund Funds
Revenues
Intergovernmental - grants and loans 1,131,268 $ 51,216 $ 1,182,484 $
Other revenue 2,500,224 3,050 2,503,274
Investment income 3,725 5,324 9,049
Total revenues 3,635,217 59,590 3,694,807
Expenditures
Current
Development 176,383 - 176,383
Capital outlay 7,299,829 4,317,494 11,617,323
Debt service
Bond issuance costs - - -
Principal 24,371 - 24,371
Total expenditures 7,500,583 4,317,494 11,818,077
Deficiency of revenues
over expenditures (3,865,366) (4,257,904) (8,123,270)
Transfers in 6,486,975 - 6,486,975
Transfers out (2,425,832) - (2,425,832)
Total other financing sources (uses)4,061,143 - 4,061,143
Net change in fund balances 195,777 (4,257,904) (4,062,127)
Fund balances – beginning 291,965 5,675,391 5,967,356
Fund balances – ending 487,742 $ 1,417,487 $ 1,905,229 $
Other financing sources (uses)
134
2016 2015
Original Final Actual Actual
Revenues
Intergovernmental - grants and loans 150,000 $ 150,000 $ 1,131,268 $ 20,364,975 $
Other revenue 132,211 132,211 2,500,224 109,689
Investment income 9,500 9,500 3,725 5,617
Total revenues 291,711 291,711 3,635,217 20,480,281
Expenditures
Development
Contractual - - 173,916 24,031
Other charges - - 2,467 9,650
Capital outlay 7,107,496 8,080,455 7,299,829 38,961,818
Debt service
Principal 24,371 24,371 24,371 24,371
Total expenditures 7,131,867 8,104,826 7,500,583 39,019,870
Deficiency of revenues over
expenditures (6,840,156) (7,813,115) (3,865,366) (18,539,589)
Other financing sources (uses)
Transfers in
General Fund 5,000,000 5,000,000 4,870,154 11,704,642
Village Permanent Fund 850,704 850,704 1,107,697 5,515,596
Wholesale Water Fund 509,124 509,124 509,124 494,295
Insurance and Risk Fund - - - 450,000
Facility Replacement Fund - - - 187,573
Transfers out
General Fund - - (200,000) (1,800,000)
Village Permanent Fund - - (2,225,832) -
Total other financing sources (uses)6,359,828 6,359,828 4,061,143 16,552,106
Net change in fund balance (480,328) $ (1,453,287) $ 195,777 (1,987,483)
Fund balance - beginning 291,965 2,279,448
Fund balance - ending 487,742 $ 291,965 $
Village of Glenview, Illinois
Capital Projects Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
For the Year Ended December 31, 2016
(With comparative totals for the year ended December 31, 2015)
Budget
135
Original
and Final 2016 2015
Budget Actual Actual
Revenues
Intergovernmental - grant revenue -$ 51,216 $ -$
Investment income 500 5,324 874
Other revenue 2,894 3,050 3,149
Total revenues 3,394 59,590 4,023
Expenditures
Capital outlay 5,113,677 4,317,494 429,465
Total expenditures 5,113,677 4,317,494 429,465
Net change in fund balance (5,110,283) $ (4,257,904) (425,442)
Fund balance - beginning 5,675,391 6,100,833
Fund balance - ending 1,417,487 $ 5,675,391 $
Glen Capital Projects Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
For the Year Ended December 31, 2016
(With comparative totals for the year ended December 31, 2015)
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)
2016 2015
Original Final Actual Actual
Operating revenues
Charges for sales and services
Water charges 12,484,391 $ 12,484,391 $ 13,177,100 $ 11,708,720 $
Water connection charges 75,000 75,000 151,509 323,965
Water meter and remote readers 1,600 1,600 3,740 3,292
Total charges for sales and services 12,560,991 12,560,991 13,332,349 12,035,977
Miscellaneous revenue
Late payment fees 155,000 155,000 173,217 145,040
Water for construction 15,000 15,000 4,835 38,363
Other 44,106 434,931 765,694 518,773
Total miscellaneous revenue 214,106 604,931 943,746 702,176
Total operating revenues 12,775,097 13,165,922 14,276,095 12,738,153
Operating expenses
Water services
Personnel 2,367,703 2,367,703 2,520,164 2,340,829
Contractual services 7,675,042 7,713,467 6,554,917 6,374,484
Commodities 1,996,998 1,959,073 2,541,822 2,626,590
Other charges 605,838 605,338 564,952 445,767
Capital outlay 4,252,454 4,924,253 5,609,421 4,703,523
Total operating expenses 16,898,035 17,569,834 17,791,276 16,491,193
Operating income (loss)(4,122,938) (4,403,912) (3,515,181) (3,753,040)
(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, 2016
(With comparative totals for the year ended December 31, 2015)
137
Budget and Actual (Budgetary Basis) (Continued)
2016 2015
Original Final Actual Actual
Nonoperating revenues (expenses)
Investment income (loss)8,600 $ 8,600 $ 7,215 $ 4,601 $
Loss on sale of capital assets - - - (4,336)
Issuance of debt 3,192,588 3,192,588 3,872,432 -
Debt service
Principal (405,600) (405,600) (402,481) (344,400)
Interest and fiscal charges (104,724) (104,724) (90,514) (29,417)
Total nonoperating revenues (expenses)2,690,864 2,690,864 3,386,652 (373,552)
Net income (loss) before transfers (1,432,074) (1,713,048) (128,529) (4,126,592)
Transfers in
Glenview Sanitary Sewer Fund - - 9,377 -
North Maine Water and Sewer Fund 650,000 650,000 651,952 285,602
Total transfers in (out)650,000 650,000 661,329 285,602
Change in net position - budgetary basis (782,074) $ (1,063,048) $ 532,800 (3,840,990)
GAAP basis adjustments
Acquisition of capital assets 2,805,627 2,632,112
Issuance of Debt (3,872,432) -
Depreciation and amortization (1,299,924) (1,275,710)
Principal expense 402,481 344,400
Change in net position - GAAP basis (1,431,448) (2,140,188)
Net position - beginning of year 35,974,002 38,114,190
Net position - end of year 34,542,554 $ 35,974,002 $
Budget
Glenview Water Fund - Major Fund
Schedule of Revenues, Expenses, and Changes in Net Position -
For the Year Ended December 31, 2016
(With comparative totals for the year ended December 31, 2015)
Village of Glenview, Illinois
138
Budget and Actual (Budgetary Basis)
Orginal
and Final 2016 2015
Budget Actual Actual
Operating revenues
Charges for sales and services
Water charges -$ -$ 2,387,962 $
Sewer charges - - 130,334
Total charges for sales
and services - - 2,518,296
Miscellaneous revenue
Late payment fees - - 26,298
Other - - 5,387
Total miscellaneous revenue - - 31,685
Total operating revenues - - 2,549,981
Operating expenses
Water and sewer distribution
Personnel - - 303,714
Contractual services 134,700 12,865 2,054,357
Commodities - - 35,561
Other - - 12,055,669
Total operating expenses 134,700 12,865 14,449,301
Operating income (loss)(134,700) (12,865) (11,899,320)
(Continued)
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, 2016
(With comparative totals for the year ended December 31, 2015)
139
Budget and Actual (Budgetary Basis) (Continued)
Orginal
and Final 2016 2015
Budget Actual Actual
Nonoperating revenues (expenses)
Other income -$ -$ 113,267 $
Investment income (loss)1,700 747 9,249
Gain on disposal of capital assets - - 15,825,645
Debt service
Principal (130,000) (130,000) (1,063,950)
Interest and fiscal charges (7,000) (6,133) (281,363)
Total nonoperating revenues
(expenses)(135,300) (135,386) 14,602,848
Net income (loss) before transfers (270,000) (148,251) 2,703,528
Transfers out
General Fund - (156,338) (206,601)
Village Permanent Fund - - (10,000,000)
Glenview Water Fund (650,000) (651,952) (285,602)
Glenview Sanitary Sewer Fund - - (79,974)
Total transfers out (650,000) (808,290) (10,572,177)
Change in net position - budgetary basis (920,000) $ (956,541) (7,868,649)
GAAP basis adjustments
Depreciation and amortization (320) (184,462)
Principal expense 130,000 1,063,950
Change in net position - GAAP basis (826,861) (6,989,161)
Net position - beginning of year 826,861 7,816,022
Net position - end of year -$ 826,861 $
North Maine Water and Sewer Fund - Major Fund
Schedule of Revenues, Expenses, and Changes in Net Position -
For the Year Ended December 31, 2016
(With comparative totals for the year ended December 31, 2015)
Village of Glenview, Illinois
140
Budget and Actual (Budgetary Basis)
2016 2015
Original Final Actual Actual
Operating revenues
Charges for sales and services
Sewer charges 2,255,743 $ 2,255,743 $ 2,322,170 $ 2,248,484 $
Sewer connection charges 4,000 4,000 10,380 38,257
Total charges for sales and services 2,259,743 2,259,743 2,332,550 2,286,741
Miscellaneous revenue
Other 70,644 70,644 237,202 236,300
Total operating revenues 2,330,387 2,330,387 2,569,752 2,523,041
Operating expenses
Sewerage services
Personnel 557,147 557,147 567,265 521,268
Contractual services 126,586 124,186 73,042 95,583
Commodities 48,053 50,453 41,719 37,152
Other charges 145,909 145,909 112,891 118,059
Capital outlay 1,562,452 1,632,339 1,614,741 1,627,518
Total operating expenses 2,440,147 2,510,034 2,409,658 2,399,580
Operating income (loss)(109,760) (179,647) 160,094 123,461
(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, 2016
(With comparative totals for the year ended December 31, 2015)
141
Budget and Actual (Budgetary Basis) (Continued)
2016 2015
Original Final Actual Actual
Nonoperating revenues (expenses)
Fines and fees
Heatherfield 4,000 $ 4,000 $ 7,794 $ 9,719 $
Investment income 3,500 3,500 970 707
Loss on disposal of capital assets - - - (1,877)
Debt service
Principal (279,400) (279,400) (279,400) (270,600)
Interest and fiscal charges (10,697) (10,697) (27,077) (18,646)
Total nonoperating revenues (expenses)(282,597) (282,597) (297,713) (280,697)
Net income (loss) before transfers (392,357) (462,244) (137,619) (157,236)
Transfers in (out)
Village Permanent Fund 60,000 60,000 - -
North Maine Water and Sewer Fund - - - 79,974
Glenview Water Fund - - (9,377) -
Total transfers in (out)60,000 60,000 (9,377) 79,974
Change in net position - budgetary basis (332,357) $ (402,244) $ (146,996) (77,262)
GAAP basis adjustments
Acquisition of capital assets 592,087 853,151
Depreciation and amortization (481,424) (469,256)
Principal expense 279,400 270,600
Change in net position - GAAP basis 243,067 577,233
Net position - beginning of year 19,232,902 18,655,669
Net position - end of year 19,475,969 $ 19,232,902 $
Budget
Glenview Sanitary Sewer Fund - Major Fund
Schedule of Revenues, Expenses, and Changes in Net Position -
For the Year Ended December 31, 2016
(With comparative totals for the year ended December 31, 2015)
Village of Glenview, Illinois
142
Village of Glenview, Illinois
Nonmajor Enterprise Funds
Combining Statement of Net Position
December 31, 2016
Total
Wholesale Commuter Nonmajor
Water Parking Lot Enterprise
Fund Fund Funds
Current assets
Cash and cash equivalents 335,585 $ 1,466,998 $ 1,802,583 $
Receivables
Accounts receivable, net of uncollectibles 517,864 100 517,964
Total current assets 853,449 1,467,098 2,320,547
Noncurrent assets
Capital assets not being depreciated
Land - 500,000 500,000
Construction in progress - 122,796 122,796
Capital assets being depreciated
Land improvements - parking facilities - 2,552,648 2,552,648
Machinery and equipment - 13,283 13,283
Water distribution system 2,512,633 - 2,512,633
Accumulated depreciation (1,493,880) (886,091) (2,379,971)
Total noncurrent assets 1,018,753 2,302,636 3,321,389
Total assets 1,872,202 3,769,734 5,641,936
Accounts payable 100,629 159,044 259,673
Accrued payroll 3,505 - 3,505
Total liabilities 104,134 159,044 263,178
Net investment in capital assets 1,018,753 2,302,636 3,321,389
Unrestricted 749,315 1,308,054 2,057,369
Total net position 1,768,068 $ 3,610,690 $ 5,378,758 $
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, 2016
Total
Wholesale Commuter Nonmajor
Water Parking Lot Enterprise
Fund Fund Funds
Operating revenues
Charges for sales and services
Water sales 2,075,114 $ -$ 2,075,114 $
Parking meter fees - 242,192 242,192
Parking decals - 386,940 386,940
Total charges for sales and services 2,075,114 629,132 2,704,246
Miscellaneous revenues - 11,250 11,250
Total operating revenues 2,075,114 640,382 2,715,496
Operating expenses
Operations 1,213,432 353,779 1,567,211
Depreciation and amortization 62,816 74,900 137,716
Total operating expenses 1,276,248 428,679 1,704,927
Operating income 798,866 211,703 1,010,569
Nonoperating revenues
Investment income 80 625 705
Total nonoperating revenues 80 625 705
Net income before transfers 798,946 212,328 1,011,274
Transfers out (815,624) - (815,624)
Changes in net position (16,678) 212,328 195,650
Net position - beginning 1,784,746 3,398,362 5,183,108
Net position - ending 1,768,068 $ 3,610,690 $ 5,378,758 $
144
Village of Glenview, Illinois
Nonmajor Enterprise Funds
Combining Statement of Cash Flows
For the Year Ended December 31, 2016
Total
Wholesale Commuter Nonmajor
Water Parking Lot Enterprise
Fund Fund Funds
Cash flows from operating activities
Cash received from customers and users 1,716,856 $ 640,282 $ 2,357,138 $
Cash payments for goods and services (1,112,783) (221,292) (1,334,075)
Cash payments to employees (91,704) - (91,704)
Net cash provided by operating activities 512,369 418,990 931,359
Cash flows from noncapital financing activities
Transfers out (815,624) - (815,624)
Net cash used in noncapital
financing activities (815,624) - (815,624)
Cash flows from capital and related financing activities
Purchases and disposals of capital assets - (122,796) (122,796)
Net cash used in capital and related
financing activities - (122,796) (122,796)
Cash flows from investing activities
Interest received 80 625 705
Net cash provided by investing activities 80 625 705
Increase (decrease) in cash and cash equivalents (303,175) 296,819 (6,356)
Cash and cash equivalents – beginning of year 638,760 1,170,179 1,808,939
Cash and cash equivalents – end of year 335,585 $ 1,466,998 $ 1,802,583 $
(Continued)
145
Village of Glenview, Illinois
Nonmajor Enterprise Funds
Combining Statement of Cash Flows (Continued)
For the Year Ended December 31, 2016
Total
Wholesale Commuter Nonmajor
Water Parking Lot Enterprise
Fund Fund Funds
Reconciliation of operating income to net
cash provided by operating activities
Operating income 798,866 $ 211,703 $ 1,010,569 $
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 (358,258) (100) (358,358)
Accounts payable 8,544 133,987 142,531
Accrued payroll 401 - 401
Accrued expenses - (1,500) (1,500)
Total adjustments (286,497) 207,287 (79,210)
Net cash provided by operating activities 512,369 $ 418,990 $ 931,359 $
146
Original
and Final 2016 2015
Budget Actual Actual
Operating revenues
Charges for sales and services
Water sales 2,029,512 $ 2,075,114 $ 1,996,831 $
Total operating revenues 2,029,512 2,075,114 1,996,831
Operating expenses
Personnel 72,066 92,105 88,413
Contractual services 1,079,088 1,092,740 1,051,074
Commodities 16,650 10,813 10,107
Other charges 17,774 17,774 23,095
Total operating expenses 1,185,578 1,213,432 1,172,689
Operating income 843,934 861,682 824,142
Nonoperating revenues
Investment income 1,000 80 157
Total nonoperating revenues 1,000 80 157
Net income before transfers 844,934 861,762 824,299
Transfers out to other funds
General Fund (300,000) (306,500) (300,000)
Capital Projects Fund (509,124) (509,124) (494,295)
Total transfers out (809,124) (815,624) (794,295)
Change in net position - budgetary basis 35,810 $ 46,138 30,004
GAAP Basis adjustments
Depreciation and amortization (62,816) (62,816)
Change in net position - GAAP Basis (16,678) (32,812)
Net position - beginning of year 1,784,746 1,817,558
Net position - end of year 1,768,068 $ 1,784,746 $
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, 2016
(With comparative totals for the year ended December 31, 2015)
147
2016 2015
Original Final Actual Actual
Operating revenues
Charges for sales and services
Parking meter fees 215,952 $ 215,952 $ 242,192 $ 226,264 $
Parking decals 385,044 385,044 386,940 384,050
Total charges for sales and services 600,996 600,996 629,132 610,314
Miscellaneous revenues
Vendor lease rental fee 10,025 10,025 11,250 9,450
Total operating revenues 611,021 611,021 640,382 619,764
Operating expenses
Contractual services 239,740 240,434 210,841 241,567
Commodities 70,741 70,047 68,829 48,874
Other charges 5,708 5,708 5,708 34,289
Capital outlay 510,000 510,000 191,197 104,538
Total operating expenses 826,189 826,189 476,575 429,268
Operating income (215,168) (215,168) 163,807 190,496
Nonoperating revenues
Investment income 750 750 625 379
Total nonoperating revenues 750 750 625 379
Change in net position - budgetary basis (214,418) $ (214,418) $ 164,432 190,875
GAAP basis adjustments
Acquisition of capital assets 122,796 79,639
Depreciation and amortization (74,900) (74,900)
Change in net position - GAAP basis 212,328 195,614
Net position - beginning of year 3,398,362 3,202,748
Net position - end of year 3,610,690 $ 3,398,362 $
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, 2016
(With comparative totals for the year ended December 31, 2015)
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, 2016
Capital Municipal
Equipment Equipment
Replacement Repair
Fund Fund
Current assets
Cash and cash equivalents 1,423,492 $ 139,223 $
Investments 2,972,141 -
Accounts receivable, net of uncollectible amounts - 28,480
Accrued interest receivable 23,247 -
Other receivables - -
Prepaid expenses 672,768 -
Inventory - 373,846
Total assets 5,091,648 541,549
Current liabilities
Accounts payable 100,756 71,633
Accrued payroll - 17,065
Accrued expenses 2,774 -
Due to other funds - -
Claims payable - -
Unearned revenues - -
Total current liabilities 103,530 88,698
Noncurrent liabilities
Claims payable - -
Total liabilities 103,530 88,698
Unrestricted 4,988,118 452,851
Total net position 4,988,118 $ 452,851 $
Liabilities
Net Position
Assets
149
Facilities Total
Insurance Repair and Internal
and Replacement Service
Risk Fund Fund Funds
3,192,322 $ 1,599,954 $ 6,354,991 $
4,094,728 - 7,066,869
51,142 - 79,622
28,090 - 51,337
60,000 - 60,000
97,711 - 770,479
- - 373,846
7,523,993 1,599,954 14,757,144
19,425 76,251 268,065
7,689 - 24,754
7,128 15,590 25,492
2,051 - 2,051
775,443 - 775,443
18,743 - 18,743
830,479 91,841 1,114,548
1,163,164 - 1,163,164
1,993,643 91,841 2,277,712
5,530,350 1,508,113 12,479,432
5,530,350 $ 1,508,113 $ 12,479,432 $
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, 2016
Capital Municipal
Equipment Equipment
Replacement Repair
Fund Fund
Operating revenues
Charges for services 2,139,664 $ 1,249,639 $
Miscellaneous 341 91,648
Total operating revenues 2,140,005 1,341,287
Operating expenses
Personnel - 421,835
Contractual services - 379,449
Commodities 171,523 238,079
Other charges - 304,660
Capital outlay 417,665 -
Total operating expenses 589,188 1,344,023
Operating income (loss)1,550,817 (2,736)
Nonoperating revenues
Investment income (loss)29,627 11
Gain on sale of capital assets 102,619 -
Reassignment of capital assets (1,139,194) -
Total nonoperating revenues (1,006,948) 11
Income (loss) before transfers 543,869 (2,725)
Transfers in - -
Transfers out - -
Total transfers - -
Change in net position 543,869 (2,725)
Net position – beginning of year 4,444,249 455,576
Net position – end of year 4,988,118 $ 452,851 $
151
Facilities Total
Insurance Repair and Internal
and Risk Replacement Service
Fund Fund Funds
7,056,175 $ 119,588 $ 10,565,066 $
69,506 4,701 166,196
7,125,681 124,289 10,731,262
517,083 - 938,918
6,942,707 84,789 7,406,945
- - 409,602
- - 304,660
- 168,345 586,010
7,459,790 253,134 9,646,135
(334,109) (128,845) 1,085,127
567,903 3,574 601,115
- - 102,619
- (416,579) (1,555,773)
567,903 (413,005) (852,039)
233,794 (541,850) 233,088
- 146,020 146,020
(396,020) - (396,020)
(396,020) 146,020 (250,000)
(162,226) (395,830) (16,912)
5,692,576 1,903,943 12,496,344
5,530,350 $ 1,508,113 $ 12,479,432 $
152
Village of Glenview, Illinois
Internal Service Funds
Combining Statement of Cash Flows
For the Year Ended December 31, 2016
Capital Municipal
Equipment Equipment
Replacement Repair
Fund Fund
Cash flows from operating activities
Cash received from customers and users 2,140,005 $ 1,330,740 $
Cash payments for goods and services (1,130,668) (945,235)
Cash payments to employees - (421,835)
Net cash provided by (used in) operating activities 1,009,337 (36,330)
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 (1,139,194) -
Proceeds from sales of capital assets 102,619 -
Net cash used in capital and related
financing activities (1,036,575) -
Cash flows from investing activities
Purchase of investments (1,484,893) -
Sale of investments 992,898 -
Interest received 17,263 11
Net cash provided by (used in) investing activities (474,732) 11
Increase (decrease) in cash and cash equivalents (501,970) (36,319)
Cash and cash equivalents – beginning of year 1,925,462 175,542
Cash and cash equivalents – end of year 1,423,492 $ 139,223 $
Reconciliation of operating income (loss) to net
cash provided by (used in) operating activities:
Operating income (loss)1,550,817 $ (2,736) $
Adjustments to reconcile operating income (loss)
to net cash provided by (used in) operating activities
Changes in assets and liabilities:
Accounts receivable - (10,547)
Prepaid expenses (431,093) -
Inventory - (13,584)
Accounts payable (75,504) (13,573)
Accrued payroll - 4,165
Accrued expenses (34,883) (55)
Due to other funds - -
Claims payable - -
Unearned revenues - -
Total adjustments (541,480) (33,594)
Net cash provided by (used in) operating activities 1,009,337 $ (36,330) $
153
Facilities Total
Insurance Repair and Internal
and Risk Replacement Service
Fund Fund Funds
7,122,046 $ 133,714 $ 10,726,505 $
(6,606,857) (279,676) (8,962,436)
(517,083) - (938,918)
(1,894) (145,962) 825,151
- 146,020 146,020
(396,020) - (396,020)
(396,020) 146,020 (250,000)
- (416,579) (1,555,773)
- - 102,619
- (416,579) (1,453,154)
(2,170,977) - (3,655,870)
2,369,965 - 3,362,863
553,373 3,574 574,221
752,361 3,574 281,214
354,447 (412,947) (596,789)
2,837,875 2,012,901 6,951,780
3,192,322 $ 1,599,954 $ 6,354,991 $
(334,109) $ (128,845) $ 1,085,127 $
(2,736) 9,425 (3,858)
(10,339) - (441,432)
- - (13,584)
(7,088) (40,132) (136,297)
1,289 - 5,454
7,105 13,590 (14,243)
(12,624) - (12,624)
357,507 - 357,507
(899) - (899)
332,215 (17,117) (259,976)
(1,894) $ (145,962) $ 825,151 $
154
Budget and Actual (Budgetary Basis)
Original
and Final 2016 2015
Budget Actual Actual
Operating revenues
Charges for services
CERF charges 2,139,664 $ 2,139,664 $ 1,603,995 $
Total charges for services 2,139,664 2,139,664 1,603,995
Miscellaneous revenues
Other charges - 341 -
Total miscellaneous revenues - 341 -
Total operating revenues 2,139,664 2,140,005 1,603,995
Operating expenses
Commodities 184,962 171,523 209,776
Capital outlay
Machinery and equipment 82,917 38,041 57,494
Computer servers 89,665 95,628 29,982
Vehicles 383,801 241,527 3,190
System Improvements - 42,469 109,029
Total operating expenses 741,345 589,188 409,471
Operating income 1,398,319 1,550,817 1,194,524
Nonoperating revenues (expenses)
Investment income 17,000 29,627 18,664
Gain on sale of capital assets 94,100 102,619 35,529
Reassignment of capital assets (1,810,249) (1,139,194) (1,627,844)
Total nonoperating revenue (expenses)(1,699,149) (1,006,948) (1,573,651)
Change in net position (300,830) $ 543,869 (379,127)
Net position - beginning 4,444,249 4,823,376
Net position - ending 4,988,118 $ 4,444,249 $
Village of Glenview, Illinois
Capital Equipment Replacement Fund (CERF)
Schedule of Revenues, Expenses, and Changes in Net Position -
For the Year Ended December 31, 2016
(With comparative totals for the year ended December 31, 2015)
155
Budget and Actual (Budgetary Basis)
2016 2015
Original Final Actual Actual
Operating revenues
Charges for services
Village 1,522,595 $ 1,522,595 $ 1,249,057 $ 1,398,600 $
Library 5,000 5,000 582 1,108
Total charges for services 1,527,595 1,527,595 1,249,639 1,399,708
Miscellaneous revenues
Other charges 155,000 155,000 91,648 120,164
Total miscellaneous revenues 155,000 155,000 91,648 120,164
Total operating revenues 1,682,595 1,682,595 1,341,287 1,519,872
Operating expenses
Fleet management
Personnel 426,092 426,092 421,835 465,145
Contractual services 423,300 445,300 379,449 444,542
Commodities 266,407 316,407 238,079 231,190
Other charges 567,206 495,206 304,660 394,642
Total operating expenses 1,683,005 1,683,005 1,344,023 1,535,519
Operating loss (410) (410) (2,736) (15,647)
Nonoperating revenues
Investment income 410 410 11 15
Total nonoperating revenues 410 410 11 15
Change in net position -$ -$ (2,725) (15,632)
Net position - beginning 455,576 471,208
Net position - ending 452,851 $ 455,576 $
Budget
(With comparative totals for the year ended December 31, 2015)
Village of Glenview, Illinois
Municipal Equipment Repair Fund (MERF)
Schedule of Revenues, Expenses, and Changes in Net Position -
For the Year Ended December 31, 2016
156
Budget and Actual (Budgetary Basis)
Original and 2016 2015
Final Budget Actual Actual
Operating revenues
Charges for services
Insurance premiums
Employees 714,935 $ 694,314 $ 738,330 $
Village 3,183,435 3,165,940 3,390,888
Retirees 818,989 898,542 909,543
Component unit - Library 508,802 496,029 514,689
Other 1,800,919 1,801,350 1,656,611
Total charges for services 7,027,080 7,056,175 7,210,061
Miscellaneous
Insurance recoveries 50,000 64,679 74,872
Other - 4,827 5,630
Total miscellaneous revenues 50,000 69,506 80,502
Total operating revenues 7,077,080 7,125,681 7,290,563
Operating expenses
Personnel 587,904 517,083 594,017
Contractual services 6,942,874 6,942,707 6,020,812
Total operating expenses 7,530,778 7,459,790 6,614,829
Operating income (loss)(453,698) (334,109) 675,734
Nonoperating revenue
Investment income 310,750 567,903 340,439
Total nonoperating revenue 310,750 567,903 340,439
Income (loss) before transfers (142,948) 233,794 1,016,173
Transfers out
General Fund (250,000) (250,000) -
Facilities Repair and Replacement Fund - (146,020) -
Capital Projects Fund - - (682,540)
Total transfers (250,000) (396,020) (682,540)
Change in net position (392,948) $ (162,226) 333,633
Net position - beginning 5,692,576 5,358,943
Net position - ending 5,530,350 $ 5,692,576 $
Village of Glenview, Illinois
Insurance and Risk Fund
(With comparative totals for the year ended December 31, 2015)
Schedule of Revenues, Expenses, and Changes in Net Position -
For the Year Ended December 31, 2016
157
Budget and Actual (Budgetary Basis)
2016 2015
Original Final Actual Actual
Operating revenues
Charges for services
Facilities charges 338,275 $ 338,275 $ 119,588 $ 95,347 $
Total charges for services 338,275 338,275 119,588 95,347
Miscellaneous
Other income - - 4,701 9,425
Total miscellaneous revenues - - 4,701 9,425
Total operating revenues 338,275 338,275 124,289 104,772
Operating expenses
Contractual services - 42,500 84,789 114,305
Capital outlay
Furniture and fixtures - 8,900 - -
Building improvements 334,000 327,529 168,345 218,116
Other operating expenses 334,000 378,929 253,134 332,421
Total operating income (loss)4,275 (40,654) (128,845) (227,649)
Nonoperating revenues
Investment income 10,000 10,000 3,574 2,286
Reassignment of capital assets (826,500) (810,488) (416,579) -
Total nonoperating revenues (816,500) (800,488) (413,005) 2,286
Loss before transfers (812,225) (841,142) (541,850) (225,363)
Transfers in (out)
Village Permanent Fund - - - 9,425
Insurance and Risk Fund - - 146,020 -
Capital Projects Fund - - - (187,573)
Total transfers - - 146,020 (178,148)
Change in net position (812,225) $ (841,142) $ (395,830) (403,511)
Net position - beginning 1,903,943 2,307,454
Net position - ending 1,508,113 $ 1,903,943 $
Budget
Facilities Repair and Replacement Fund (FRRF)
Schedule of Revenues, Expenses, and Changes in Net Position -
For the Year Ended December 31, 2016
(With comparative totals for the year ended December 31, 2015)
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, 2016
Police Firefighters'
Pension Pension
Fund Fund Total
Assets
Cash and cash equivalents 1,950,057 $ 562,581 $ 2,512,638 $
Investments
U.S. government and agency obligations 15,930,423 24,954,047 40,884,470
Municipal obligations 380,477 5,144,708 5,525,185
Corporate obligations 12,649,250 - 12,649,250
Equity mutual funds 40,929,786 44,860,442 85,790,228
Accrued interest receivable 182,804 180,114 362,918
Prepaid expenses 6,103 4,039 10,142
Total assets 72,028,900 75,705,931 147,734,831
Liabilities
Accrued expenses 19,108 35,856 54,964
Due to other funds 4,327 8,122 12,449
Total liabilities 23,435 43,978 67,413
Net Position
Restricted for pensions 72,005,465 $ 75,661,953 $ 147,667,418 $
159
Village of Glenview, Illinois
Pension Trust Funds
Combining Statement of Changes in Fiduciary Net Position
For the Year Ended December 31, 2016
Police Firefighters'
Pension Pension
Fund Fund Total
Additions
Contributions
Employer 2,497,041 $ 4,016,250 $ 6,513,291 $
Participant 812,961 782,515 1,595,476
Total contributions 3,310,002 4,798,765 8,108,767
Investment income
Net appreciation in fair value of investments 1,783,035 2,514,745 4,297,780
Interest income 2,226,349 2,385,764 4,612,113
Less investment expenses (71,693) (134,552) (206,245)
Net investment income 3,937,691 4,765,957 8,703,648
Total additions 7,247,693 9,564,722 16,812,415
Deductions
Administration 50,482 68,045 118,527
Retirement pensions 3,476,101 4,703,877 8,179,978
Widow pensions 302,482 412,618 715,100
Disability pensions 121,428 510,782 632,210
Children's pensions 48,270 - 48,270
Total deductions 3,998,763 5,695,322 9,694,085
Change in net position 3,248,930 3,869,400 7,118,330
Net position restricted for pensions at beginning of year 68,756,535 71,792,553 140,549,088
Net position restricted for pensions at end of year 72,005,465 $ 75,661,953 $ 147,667,418 $
160
Original and 2016 2015
Final Budget Actual Actual
Additions
Contributions
Employer 2,480,695 $ 2,497,041 $ 7,494,545 $
Participant 727,033 812,961 777,705
Total contributions 3,207,728 3,310,002 8,272,250
Investment income
Net appreciation (depreciation)
in fair value of investments 3,400,000 1,783,035 (2,648,641)
Interest income 800,000 2,226,349 2,713,029
Less investment expense (78,715) (71,693) (67,367)
Net investment income 4,121,285 3,937,691 (2,979)
Total additions 7,329,013 7,247,693 8,269,271
Deductions
Administration 54,000 50,482 51,118
Retirement pensions 3,209,089 3,476,101 3,194,414
Widow pensions 294,998 302,482 297,558
Disability pensions 179,461 121,428 171,916
Children pensions - 48,270 -
Contribution refunds 50,000 - 1,343
Total deductions 3,787,548 3,998,763 3,716,349
Change in net position 3,541,465 $ 3,248,930 4,552,922
Net position restricted for pensions
Beginning 68,756,535 64,203,613
Ending 72,005,465 $ 68,756,535 $
Village of Glenview, Illinois
Police Pension Fund
Schedule of Changes in Plan Net Position - Budget and Actual
For the Year Ended December 31, 2016
(With comparative totals for the year ended December 31, 2015)
161
Original and 2016 2015
Final Budget Actual Actual
Additions
Contributions
Employer 3,974,237 $ 4,016,250 $ 10,309,348 $
Participant 760,221 782,515 750,195
Total contributions 4,734,458 4,798,765 11,059,543
Investment income
Net appreciation (depreciation)
in fair value of investments 3,100,000 2,514,745 (1,717,287)
Interest income 800,000 2,385,764 2,662,007
Less investment expense (215,145) (134,552) (126,971)
Net investment income 3,684,855 4,765,957 817,749
Total additions 8,419,313 9,564,722 11,877,292
Deductions
Administration 45,210 68,045 82,809
Retirement pensions 4,680,199 4,703,877 4,535,297
Widow pensions 332,160 412,618 332,160
Disability pensions 408,093 510,782 460,490
Contribution refunds 50,000 - -
Total deductions 5,515,662 5,695,322 5,410,756
Change in net position 2,903,651 $ 3,869,400 6,466,536
Net position restricted for pensions
Beginning 71,792,553 65,326,017
Ending 75,661,953 $ 71,792,553 $
Village of Glenview, Illinois
Firefighters' Pension Fund
Schedule of Changes in Plan Net Position - Budget and Actual
For the Year Ended December 31, 2016
(With comparative totals for the year ended December 31, 2015)
162
Village of Glenview, Illinois
Agency Funds
Statements of Changes in Assets and Liabilities
For the Year Ended December 31, 2016
Balances,Balances,
January 1 Additions Subtractions December 31
COMBINING STATEMENT - ALL AGENCY FUNDS
Assets
Cash and cash equivalents 336,508 $ 1,866,630 $ 1,725,319 $ 477,819 $
Investments 1,031,575 1,198,574 1,235,049 995,100
Receivables
Property taxes 235,855 322,982 235,855 322,982
Interest 11,177 1,169 11,177 1,169
Total assets 1,615,115 $ 3,389,355 $ 3,207,400 $ 1,797,070 $
Liabilities
Accounts payable 6,300 $ 348,428 $ 248,100 $ 106,628 $
Refundable deposits 1,201,685 670,747 677,515 1,194,917
Due to bond holders 407,130 2,844,745 2,756,350 495,525
Total liabilities 1,615,115 $ 3,863,920 $ 3,681,965 $ 1,797,070 $
INDIVIDUAL AGENCY FUND STATEMENTS
Special Service Area (SSA) Bond Fund
Assets
Cash and cash equivalents 171,275 $ 283,187 $ 281,919 $ 172,543 $
Receivables - property taxes 235,855 322,982 235,855 322,982
Total assets 407,130 $ 606,169 $ 517,774 $ 495,525 $
Liabilities
Due to bond holders 407,130 $ 2,844,745 $ 2,756,350 $ 495,525 $
Total liabilities 407,130 $ 2,844,745 $ 2,756,350 $ 495,525 $
(Continued)
163
Village of Glenview, Illinois
Statements of Changes in Assets and Liabilities (Continued)
Agency Funds
For the Year Ended December 31, 2016
Balances,Balances,
January 1 Additions Subtractions December 31
INDIVIDUAL AGENCY FUND STATEMENTS (CONTINUED)
Escrow Deposit Fund
Assets
Cash and cash equivalents 165,233 $ 1,583,443 $ 1,443,400 $ 305,276 $
Investments 1,031,575 1,198,574 1,235,049 995,100
Receivables - interest 11,177 1,169 11,177 1,169
Total assets 1,207,985 $ 2,783,186 $ 2,689,626 $ 1,301,545 $
Liabilities
Accounts payable 6,300 $ 348,428 $ 248,100 $ 106,628 $
Refundable deposits 1,201,685 670,747 677,515 1,194,917
Total liabilities 1,207,985 $ 1,019,175 $ 925,615 $ 1,301,545 $
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, 2016
Library Library Nonmajor
General Debt Library Total
Fund Service Funds Library
Assets
Current assets
Cash and cash equivalents 3,191,898 $ 451,723 $ 581,227 $ 4,224,848 $
Investments 991,114 - 246,800 1,237,914
Receivables, net of allowances
Property taxes 5,994,787 1,831,770 - 7,826,557
Interest 138 - 2,215 2,353
Due from other funds 4,163 - - 4,163
Total current assets 10,182,100 2,283,493 830,242 13,295,835
Noncurrent assets
Capital assets not depreciated - - - -
Capital assets depreciated (net)- - - -
Total noncurrent assets - - - -
Total assets 10,182,100 2,283,493 830,242 13,295,835
Deferred Outflows of Resources
Deferred loss on refunding - - - -
Deferred outflows due to pensions - - - -
Total deferred outflows of resources - - - -
Combining Balance Sheet
165
Total
Component
Adjustments Unit
-$ 4,224,848 $
- 1,237,914
- 7,826,557
- 2,353
- 4,163
- 13,295,835
5,426,987 5,426,987
25,384,526 25,384,526
30,811,513 30,811,513
30,811,513 44,107,348
1,020,303 1,020,303
2,065,009 2,065,009
3,085,312 3,085,312
(Continued)
Statement of Net Position
166
Village of Glenview, Illinois
Glenview Library - Component Unit
Combining Balance Sheet and Statement of Net Position
December 31, 2016
Library Library Nonmajor
General Debt Library Total
Fund Service Funds Library
Liabilities
Current liabilities
Accounts payable 420,482 $ -$ 207 $ 420,689 $
Accrued payroll 169,322 - - 169,322
Accrued interest - - - -
Current portion of bonds payable - - - -
Current portion of compensated
absences - - - -
Total current liabilities 589,804 - 207 590,011
Noncurrent liabilities
Bond payable - - - -
Unamortized bond premiums - - - -
Net pension liability - - - -
Compensated absences - - - -
Total noncurrent liabilities - - - -
Total liabilities 589,804 - 207 590,011
Deferred Inflows of Resources
Deferred property taxes 6,020,973 1,837,655 - 7,858,628
Deferred inflows due to pensions - - - -
Total deferred inflows of resources 6,020,973 1,837,655 - 7,858,628
Net investment in capital assets - - - -
Restricted - 445,838 830,035 1,275,873
Unassigned/unrestricted 3,571,323 - - 3,571,323
Total fund balance/net position 3,571,323 445,838 830,035 4,847,196
Total liabilities, deferred inflows
of resources and fund balance/
net position 10,182,100 $ 2,283,493 $ 830,242 $ 13,295,835 $
Fund Balance/Net Position
Combining Balance Sheet
167
Total
Component
Adjustments Unit
-$ 420,689 $
- 169,322
74,667 74,667
1,190,000 1,190,000
53,703 53,703
1,318,370 1,908,381
16,551,645 16,551,645
2,504,306 2,504,306
3,075,989 3,075,989
214,810 214,810
22,346,750 22,346,750
23,665,120 24,255,131
- 7,858,628
63,449 63,449
63,449 7,922,077
11,585,865 11,585,865
- 1,275,873
(1,417,609) 2,153,714
10,168,256 15,015,452
33,896,825 $ 47,192,660 $
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, 2016
Library Library Nonmajor
General Debt Library Total
Fund Service Funds Library
Revenues
Property taxes 6,179,973 $ 2,015,815 $ -$ 8,195,788 $
Charges for services 57,192 - - 57,192
Fines and forfeitures 72,169 - - 72,169
Intergovernmental 1,105,699 - - 1,105,699
Other revenue 50,727 - 43,623 94,350
Investment income 28,123 9,319 5,298 42,740
Total revenues 7,493,883 2,025,134 48,921 9,567,938
Expenditures
Current
Culture and recreation 6,722,537 - 17,178 6,739,715
Debt service
Bond issuance costs - 72,181 - 72,181
Principal - 1,155,000 - 1,155,000
Interest and other - 450,108 - 450,108
Capital outlay 354,865 - 41,988 396,853
Total expenditures 7,077,402 1,677,289 59,166 8,813,857
Excess (deficiency) of revenues
over expenditures 416,481 347,845 (10,245) 754,081
Other financing sources (uses)
Issuance of debt - 15,326,600 - 15,326,600
Premium on issuance of debt - 2,696,945 - 2,696,945
Payments to escrow agent - (18,276,297) - (18,276,297)
Transfers in - - 75,000 75,000
Transfers out (75,000) - - (75,000)
Total other financing sources (uses)(75,000) (252,752) 75,000 (252,752)
Net change in fund balances/
net position 341,481 95,093 64,755 501,329
Fund balances/net position
Beginning 3,229,842 350,745 765,280 4,345,867
Ending 3,571,323 $ 445,838 $ 830,035 $ 4,847,196 $
and Changes in Fund Balances
Statement of Revenues, Expenditures,
169
Total
Component
Adjustments Unit
-$ 8,195,788 $
- 57,192
- 72,169
- 1,105,699
- 94,350
- 42,740
- 9,567,938
1,037,421 7,777,136
(72,181) -
(1,155,000) -
230,237 680,345
(396,853) -
(356,376) 8,457,481
356,376 1,110,457
(15,326,600) -
(2,696,945) -
18,276,297 -
(75,000) -
75,000 -
252,752 -
609,128 1,110,457
9,559,128 13,904,995
10,168,256 $ 15,015,452 $
Statement of Activities
170
(With comparative totals for year ended December 31, 2015)
2016 2015
Original Final Actual Actual
Revenues
Local taxes
Property taxes for Library
Current year 6,185,143 $ 6,185,143 $ 6,246,136 $ 5,942,531 $
Prior year (50,000) (50,000) (66,163) (50,685)
Total local taxes 6,135,143 6,135,143 6,179,973 5,891,846
Charges for services
Nonresident fee 18,000 18,000 17,006 20,656
Personal books 1,250 1,250 814 2,160
Copying fees 10,000 10,000 14,066 15,915
Circular collection fees 500 500 610 390
Video fees 23,000 23,000 22,830 23,331
Rental fees 1,500 1,500 1,866 2,084
Total charges for services 54,250 54,250 57,192 64,536
Fines and forfeitures
Library fines 64,000 64,000 60,717 67,737
Lost and paid 11,000 11,000 11,452 10,942
Total fines and forfeitures 75,000 75,000 72,169 78,679
Intergovernmental
Property replacement tax 51,000 51,000 50,779 142,511
Make-whole TIF area taxes 973,216 973,216 1,015,469 969,134
Grant proceeds 50,000 50,000 39,451 55,865
Total intergovernmental 1,074,216 1,074,216 1,105,699 1,167,510
Investment income
Interest 11,500 11,500 28,123 11,751
Other revenue
Employee dental contribution 15,500 15,500 17,485 16,451
Miscellaneous 24,000 24,000 33,242 31,954
Total other revenues 39,500 39,500 50,727 48,405
Total revenues 7,389,609 7,389,609 7,493,883 7,262,727
(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, 2016
Budget
171
(With comparative totals for year ended December 31, 2015)
2016 2015
Original Final Actual Actual
Expenditures
Culture and recreation
Library administration
Personnel 1,097,628 $ 1,097,628 $ 1,076,006 $ 1,065,037 $
Contractual services 308,380 308,380 283,447 323,028
Commodities 8,350 8,350 8,864 7,649
Other charges 54,400 54,400 42,715 47,253
Total library administration 1,468,758 1,468,758 1,411,032 1,442,967
Readers' services
Personnel 834,734 834,734 804,045 800,196
Contractual services 46,130 90,130 86,177 36,337
Commodities 249,095 258,095 255,884 251,562
Other charges 3,000 3,000 1,937 2,770
Total readers' services 1,132,959 1,185,959 1,148,043 1,090,865
Buildings and grounds maintenance
Personnel 204,770 204,770 202,490 199,299
Contractual services 100,500 100,500 131,732 124,480
Commodities 67,700 67,700 57,633 63,137
Other charges 250 250 149 187
Total building and grounds
maintenance 373,220 373,220 392,004 387,103
Circulation
Personnel 873,256 873,256 835,254 844,441
Contractual services 12,345 12,345 11,870 11,288
Commodities 17,110 17,110 18,032 11,211
Other charges 3,750 3,750 1,945 2,245
Total circulation 906,461 906,461 867,101 869,185
(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, 2016
Budget
172
(With comparative totals for year ended December 31, 2015)
2016 2015
Original Final Actual Actual
Expenditures (continued)
Public information
Personnel 174,797 $ 174,797 $ 168,265 $ 166,147 $
Contractual services 51,325 51,325 46,681 46,917
Commodities 3,450 3,450 4,723 4,431
Other charges 450 450 35 329
Total public information 230,022 230,022 219,704 217,824
Technical services
Personnel 545,710 545,710 591,504 570,116
Contractual services 7,400 7,400 5,139 7,169
Commodities 16,550 16,550 16,673 13,181
Other charges 3,500 3,500 1,931 3,166
Total technical services 573,160 573,160 615,247 593,632
Youth services
Personnel 694,100 694,100 644,735 632,459
Contractual services 55,500 55,500 59,040 54,217
Commodities 121,175 129,675 128,241 121,223
Other charges 3,700 3,700 2,472 1,941
Total youth services 874,475 882,975 834,488 809,840
Reference
Personnel 669,593 669,593 578,324 632,093
Contractual services 194,650 194,650 186,823 175,356
Commodities 152,725 91,225 85,190 83,819
Other charges 3,150 3,150 1,751 179
Total reference 1,020,118 958,618 852,088 891,447
(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, 2016
Budget
173
(With comparative totals for year ended December 31, 2015)
2016 2015
Original Final Actual Actual
Expenditures (continued)
Information technology
Personnel 237,329 $ 237,329 $ 211,749 $ 226,280 $
Contractual services 173,000 173,000 166,338 164,678
Commodities 6,700 6,700 4,707 8,278
Other charges 2,100 2,100 36 1,545
Total information technology 419,129 419,129 382,830 400,781
Total culture and recreation 6,998,302 6,998,302 6,722,537 6,703,644
Capital outlay
Furniture and fixtures 900 900 17 1,419
Machinery and equipment 153,600 153,600 151,384 3,789
Information system 212,600 212,600 203,464 248,891
Total capital outlay 367,100 367,100 354,865 254,099
Total expenditures 7,365,402 7,365,402 7,077,402 6,957,743
Excess of revenues over
expenditures 24,207 24,207 416,481 304,984
Other financing uses
Transfers out to other funds
Library Special Reserve Fund (75,000) (75,000) (75,000) -
Net change in fund balance (50,793) $ (50,793) $ 341,481 304,984
Fund balance - beginning 3,229,842 2,924,858
Fund balance - ending 3,571,323 $ 3,229,842 $
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, 2016
174
(With comparative totals for year ended December 31, 2015)
Original
and Final 2016 2015
Budget Actual Actual
Revenues
Property taxes 1,954,482 $ 2,015,815 $ 2,006,818 $
Investment income 5,100 9,319 7,243
Total revenues 1,959,582 2,025,134 2,014,061
Expenditures
Debt service
Bond Issuance Costs - 72,181 -
Principal 1,155,000 1,155,000 1,125,000
Interest and other 780,631 450,108 814,381
Total expenditures 1,935,631 1,677,289 1,939,381
Excess of revenues over expenditures 23,951 347,845 74,680
Other financing sources (uses)
Issuance of debt - 15,326,600 -
Premium on issuance of debt - 2,696,945 -
Payments to escrow agent - (18,276,297) -
Total other financing sources (uses)- (252,752) -
Net change in fund balance 23,951 $ 95,093 74,680
Fund balance - beginning 350,745 276,065
Fund balance - ending 445,838 $ 350,745 $
Village of Glenview, Illinois
Glenview Library - Component Unit - Library Debt Service
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
For the Year Ended December 31, 2016
175
Village of Glenview, Illinois
Glenview Library - Component Unit - Library Nonmajor Funds
Combining Balance Sheet
December 31, 2016
Friends Total
of the Special
Library Gift Revenue
Cash and cash equivalents 119,719 $ 102,467 $ 222,186 $
Investments - - -
Interest receivable - - -
Total assets 119,719 $ 102,467 $ 222,186 $
Liabilities
Accounts payable 207 $ -$ 207 $
Total liabilities 207 - 207
Fund balances
Restricted 119,512 102,467 221,979
Total fund balances 119,512 102,467 221,979
Total liabilities and
fund balances 119,719 $ 102,467 $ 222,186 $
Special Revenue Funds
Liabilities and Fund Balances
Assets
176
Library Library Total Total
Capital Special Capital Nonmajor
Contribution Reserve Project Library
51,794 $ 307,247 $ 359,041 $ 581,227 $
- 246,800 246,800 246,800
- 2,215 2,215 2,215
51,794 $ 556,262 $ 608,056 $ 830,242 $
-$ -$ -$ 207 $
- - - 207
51,794 556,262 608,056 830,035
51,794 556,262 608,056 830,035
51,794 $ 556,262 $ 608,056 $ 830,242 $
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, 2016
Friends Total
of the Special
Library Gift Revenue
Revenues
Other revenue
Donations 40,000 $ -$ 40,000 $
Investment income 716 954 1,670
Total revenues 40,716 954 41,670
Expenditures
Culture and recreation
Miscellaneous 8,093 - 8,093
Capital outlay - 16,945 16,945
Total expenditures 8,093 16,945 25,038
Excess (deficiency) of revenues
over (under) expenditures 32,623 (15,991) 16,632
Other financing sources
Transfers in - - -
Total other financing sources - - -
Net change in fund balances 32,623 (15,991) 16,632
Fund balances - beginning 86,889 118,458 205,347
Fund balances - ending 119,512 $ 102,467 $ 221,979 $
Special Revenue Funds
178
Library Library Total Total
Capital Special Capital Nonmajor
Contribution Reserve Project Library
3,623 $ -$ 3,623 $ 43,623 $
442 3,186 3,628 5,298
4,065 3,186 7,251 48,921
9,085 - 9,085 17,178
- 25,043 25,043 41,988
9,085 25,043 34,128 59,166
(5,020) (21,857) (26,877) (10,245)
- 75,000 75,000 75,000
- 75,000 75,000 75,000
(5,020) 53,143 48,123 64,755
56,814 503,119 559,933 765,280
51,794 $ 556,262 $ 608,056 $ 830,035 $
Capital Project Funds
179
(With comparative totals for year ended December 31, 2015)
Original
and Final 2016 2015
Budget Actual Actual
Revenues
Investment income 2,150 $ 3,186 $ 1,106 $
Total revenues 2,150 3,186 1,106
Expenditures
Miscellaneous 27,306 - 4,406
Capital outlay - 25,043 45,414
Total expenditures 27,306 25,043 49,820
Deficiency of revenues over
expenditures (25,156) (21,857) (48,714)
Other financing sources
Transfers in from other funds
Library General Fund 75,000 75,000 -
Total other financing sources 75,000 75,000 -
Net change in fund balance 49,844 $ 53,143 (48,714)
Fund balance - beginning 503,119 551,833
Fund balance - ending 556,262 $ 503,119 $
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, 2016
OTHER SUPPLEMENTAL INFORMATION
180
Village of Glenview, Illinois
General Obligation Bond Series 2009A
Long-term Debt Requirements
December 31, 2016
Date of issue:May 5, 2009
Date of maturity:December 1, 2018
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
2017 1,190,000 $ 84,636 $ 1,274,636 $ 2017 42,318 $ 2017 42,318 $
2018 1,225,045 42,876 1,267,921 2018 21,438 2018 21,438
2,415,045 $ 127,512 $ 2,542,557 $ 63,756 $ 63,756 $
Note: Principal and interest is payable from proceeds of the library property tax levy.
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Requirements Interest Due on
181
Village of Glenview, Illinois
General Obligation Bond Series 2009D
Long-term Debt Requirements
December 31, 2016
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
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
2,720,000 $ 149,600 $ 2,869,600 $ 74,800 $ 74,800 $
Note: Principal and interest is payable from the Special Tax Allocation Fund.
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Requirements Interest Due on
182
Village of Glenview, Illinois
Illinois Environmental Protection Agency Loan
Long-term Debt Requirements
December 31, 2016
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
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
182,780 $ 170,595 $ 353,375 $
Note: Principal will be paid by the Capital Projects Fund.
Requirements
FUTURE PRINCIPAL REQUIREMENTS
183
Village of Glenview, Illinois
General Obligation Refunding Bond, Series 2012A
Long-term Debt Requirements
December 31, 2016
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
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 $ 2,492,100 $ 20,582,100 $ 1,246,050 $ 1,246,050 $
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
General Obligation Refunding Bond, Series 2012B
Long-term Debt Requirements
December 31, 2016
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
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
12,130,000 $ 2,152,600 $ 14,282,600 $ 1,076,300 $ 1,076,300 $
Note: Principal and interest is payable from a property tax levy.
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Requirements Interest Due on
185
Village of Glenview, Illinois
General Obligation Refunding Bond, Series 2012C
Long-term Debt Requirements
December 31, 2016
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
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
3,385,000 $ 153,600 $ 3,538,600 $ 76,800 $ 76,800 $
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 Bonds, Series 2013A
Long-term Debt Requirements
December 31, 2016
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
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
5,335,000 $ 1,932,764 $ 7,267,764 $ 966,382 $ 966,382 $
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
187
Village of Glenview, Illinois
General Obligation Bonds, Series 2013B
Long-term Debt Requirements
December 31, 2016
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
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 $ 533,488 $ 4,918,488 $ 266,744 $ 266,744 $
Note: Principal and interest will be paid by the Waukegan/Golf TIF Fund.
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Requirements Interest Due on
188
Village of Glenview, Illinois
5 Year Loan
Long-term Debt Requirements
December 31, 2016
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
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
3,917,812 $ 146,972 $ 4,064,784 $ 73,284 $ 73,688 $
Note: Principal and interest will be paid by the Special Tax Allocation Fund.
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Requirements Interest Due on
189
Village of Glenview, Illinois
General Obligation Bonds, Series 2015
Long-term Debt Requirements
December 31, 2016
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
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
5,100,000 $ 75,412 $ 5,175,412 $ 37,706 $ 37,706 $
Note: Principal and interest is payable from the Special Tax Allocation Fund.
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Requirements Interest Due on
190
Village of Glenview, Illinois
General Obligation Refunding Bond, Series 2016A
Long-term Debt Requirements
December 31, 2016
Date of issue:October 27, 2016
Date of maturity:December 1, 2029
Authorized issue:15,326,600$
Denomination of bonds:5,000$
Interest rates:4.45% - 5.91%
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
2017 -$ 746,912 $ 746,912 $ 2017 405,683 $ 2017 341,229 $
2018 - 682,458 682,458 2018 341,229 2018 341,229
2019 1,083,500 682,458 1,765,958 2019 341,229 2019 341,229
2020 1,132,750 628,282 1,761,032 2020 314,141 2020 314,141
2021 1,191,850 571,644 1,763,494 2021 285,822 2021 285,822
2022 1,250,950 512,052 1,763,002 2022 256,026 2022 256,026
2023 1,314,975 449,504 1,764,479 2023 224,752 2023 224,752
2024 1,383,925 383,756 1,767,681 2024 191,878 2024 191,878
2025 1,452,875 314,560 1,767,435 2025 157,280 2025 157,280
2026 1,521,825 241,916 1,763,741 2026 120,958 2026 120,958
2027 1,600,625 165,824 1,766,449 2027 82,912 2027 82,912
2028 1,669,575 101,800 1,771,375 2028 50,900 2028 50,900
2029 1,723,750 51,712 1,775,462 2029 25,856 2029 25,856
15,326,600 $ 5,532,878 $ 20,859,478 $ 2,798,666 $ 2,734,212 $
Note: Principal and interest is payable from a library property tax levy.
FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Requirements Interest Due on
191
Village of Glenview, Illinois
Advanced Metering Infrastructure Loan
Long-term Debt Requirements
December 31, 2016
Date of issue:May 1, 2015
Date of maturity:December 1, 2025
Authorized issue:6,876,024$
Interest rates:2.000%
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
2017 281,289 $ 136,583 $ 417,872 $ 2017 68,292 $ 2017 68,292 $
2018 468,815 130,957 599,772 2018 65,479 2018 65,479
2019 656,340 121,581 777,921 2019 60,791 2019 60,791
2020 843,866 108,454 952,320 2020 54,227 2020 54,227
2021 1,031,392 91,577 1,122,969 2021 45,789 2021 45,789
2022 1,125,155 70,949 1,196,104 2022 35,475 2022 35,475
2023 890,748 48,446 939,194 2023 24,223 2023 24,223
2024 1,012,639 30,631 1,043,270 2024 15,316 2024 15,316
2025 518,899 10,378 529,277 2025 5,189 2025 5,189
6,829,143 $ 749,556 $ 7,578,699 $ 374,778 $ 374,778 $
Note: Principal and interest is payable from the water 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, 2016
Special Revenue Capital Projects
Fund Fund Total
Special Glen GNAS
Tax Capital Redevelopment
Allocation Projects Area
Cash and cash equivalents 21,513,012 $ 807,697 $ 22,320,709 $
Investments - 1,699,122 1,699,122
Receivables, net of allowance
Other receivables - 60,488 60,488
Prepaid items 19,633 - 19,633
Notes receivable 2,153,667 - 2,153,667
Total assets 23,686,312 $ 2,567,307 $ 26,253,619 $
Liabilities
Accounts payable 17,310,754 $ 138,289 $ 17,449,043 $
Accrued payroll 11,820 - 11,820
Other payables - 988,731 988,731
Advances from other funds 15,280,031 - 15,280,031
Total liabilities 32,602,605 1,127,020 33,729,625
Deferred Inflows of Resources
Unavailable grant revenue - 22,800 22,800
Total deferred inflows of resources - 22,800 22,800
Fund balances (8,916,293) 1,417,487 (7,498,806)
Total liabilities and
fund balances 23,686,312 $ 2,567,307 $ 26,253,619 $
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, 2016
Special Revenue Capital Projects
Fund Fund Total
Special Glen GNAS
Tax Capital Redevelopment
Allocation Projects Area
Revenues
Local taxes
Property taxes - incremental 32,262,381 $ -$ 32,262,381 $
Charges for services 204,945 - 204,945
Intergovernmental 138,636 51,216 189,852
Other revenues - 3,050 3,050
Investment income 188,773 5,324 194,097
Total revenues 32,794,735 59,590 32,854,325
Expenditures
Current
General government 21,887,066 - 21,887,066
Capital outlay 186,451 4,317,494 4,503,945
Debt service
Principal 6,715,938 - 6,715,938
Interest and fiscal charges 1,102,865 - 1,102,865
Total expenditures 29,892,320 4,317,494 34,209,814
Deficiency of revenues over expenditures 2,902,415 (4,257,904) (1,355,489)
Other financing sources (uses)
Transfers (out)(277,288) - (277,288)
Total other financing sources (uses)(277,288) - (277,288)
Net change in fund balances 2,625,127 (4,257,904) (1,632,777)
Fund balances
Beginning (11,541,420) 5,675,391 (5,866,029)
Ending (8,916,293) $ 1,417,487 $ (7,498,806) $
194
Village of Glenview, Illinois
Index to Statistical Section
December 31, 2016
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
2007 2008 2009 2010
Governmental activities
Net investment in capital assets 83,298,383$ 78,477,141$ 87,607,488$ 93,936,562$
Restricted 54,229,537 49,074,532 39,881,012 29,923,363
Unrestricted 55,636,297 68,560,085 69,018,535 66,754,133
Total governmental activities 193,164,217$ 196,111,758$ 196,507,035$ 190,614,058$
Business-type activities
Net investment in capital assets 40,143,214$ 43,348,719$ 45,206,019$ 51,450,402$
Unrestricted 12,344,058 10,612,213 7,860,336 2,104,898
Total business-type activities 52,487,272$ 53,960,932$ 53,066,355$ 53,555,300$
Total primary government
Net investment in capital assets 123,441,597$ 121,825,860$ 132,813,507$ 145,386,964$
Restricted 54,229,537 49,074,532 39,881,012 29,923,363
Unrestricted 67,980,355 79,172,298 76,878,871 68,859,031
Total primary government 245,651,489$ 250,072,690$ 249,573,390$ 244,169,358$
Source: The Village of Glenview's Comprehensive Annual Financial Report
196
2011 2012 2013 2014 2015 2016
102,217,913$ 109,488,722$ 139,233,309$ 149,950,065$ 190,234,952$ 190,133,236$
23,711,651 45,978,154 11,484,242 2,407,413 2,194,487 2,906,999
68,927,169 42,720,345 50,861,602 (11,873,206) (11,596,195) (10,645,007)
194,856,733$ 198,187,221$ 201,579,153$ 140,484,272$ 180,833,244$ 182,395,228$
55,566,298$ 56,331,598$ 58,075,392$ 60,891,686$ 55,002,443$ 53,413,336$
5,373,918 7,475,383 10,891,341 8,714,501 6,214,430 5,983,945
60,940,216$ 63,806,981$ 68,966,733$ 69,606,187$ 61,216,873$ 59,397,281$
157,784,211$ 165,820,320$ 197,308,701$ 210,841,751$ 245,237,395$ 243,546,572$
23,711,651 45,978,154 11,484,242 2,407,413 2,194,487 2,906,999
74,301,087 50,195,728 61,752,943 (3,158,705) (5,381,765) (4,661,062)
255,796,949$ 261,994,202$ 270,545,886$ 210,090,459$ 242,050,117$ 241,792,509$
Fiscal Year
197
Village of Glenview, Illinois
Changes in Net Position
Last Ten Fiscal Years
2007 2008 2009 2010
Expenses
Governmental activities
General government 24,038,572 $ 27,195,744 $ 29,780,621 $ 32,335,971 $
Public safety 25,405,356 27,622,472 26,456,771 30,475,113
Highways and streets 21,897,066 - - -
Public works - 13,998,908 12,741,129 13,981,277
Development - 7,306,324 8,467,340 12,198,120
Interest on long-term debt 6,751,793 6,068,865 6,001,886 4,085,152
Total governmental activities expenses 78,092,787 82,192,313 83,447,747 93,075,633
Business-type activities
Water services 8,241,841 8,254,541 7,733,048 9,265,407
North Maine water and sewer services 5,822,693 6,148,151 5,782,216 6,267,880
Sanitary sewer services 1,221,484 1,473,318 1,238,383 1,948,357
Wholesale water 1,675,442 1,110,176 1,074,812 1,083,206
Commuter parking 458,586 381,133 476,940 383,196
Total business-type activities expenses 17,420,046 17,367,319 16,305,399 18,948,046
Total primary government expenses 95,512,833 $ 99,559,632 $ 99,753,146 $ 112,023,679 $
Program revenues
Governmental activities
Charges for services
General government 5,088,121 $ 3,230,320 $ 2,324,730 $ 3,931,687 $
Public safety 4,104,495 4,076,188 5,274,319 5,345,151
Public works - - - -
Development - 2,020,840 3,218,677 3,993,971
Operating grants and contributions 2,644,741 1,401,777 1,172,899 1,662,479
Capital grants and contributions 1,473,479 - 1,267,384 2,362,508
Total governmental activities program revenues 13,310,836 10,729,125 13,258,009 17,295,796
Business-type activities
Charges for services - water and sewer
Water services 8,251,413 8,135,293 8,370,780 9,045,480
North Maine water and sewer services 6,418,577 6,824,636 7,206,186 7,473,673
Sanitary sewer services 1,762,694 1,570,372 1,831,857 2,114,548
Wholesale water 1,522,626 1,863,483 1,782,495 1,997,367
Commuter parking 484,393 466,356 529,886 524,244
Operating grants and contributions - - - -
Capital grants and contributions 73,908 - - -
Total business-type activities
program revenues 18,513,611 18,860,140 19,721,204 21,155,312
Total primary government program revenues 31,824,447 $ 29,589,265 $ 32,979,213 $ 38,451,108 $
Net (expense) revenue
Governmental activities (64,781,951) $ (71,463,188) $ (70,189,738) $ (75,779,837) $
Business-type activities 1,093,565 1,492,821 3,415,805 2,207,266
Total primary government net (expense) revenue (63,688,386) $ (69,970,367) $ (66,773,933) $ (73,572,571) $
198
2011 2012 2013 2014 2015 2016
33,989,230 $ 40,172,192 $ 38,505,592 $ 36,586,774 $ 34,403,572 $ 44,385,296 $
25,769,097 27,145,548 27,152,669 23,105,414 20,638,161 34,694,711
- - - - - -
8,581,360 6,670,428 7,743,333 22,535,067 26,550,936 12,872,643
10,029,890 6,421,304 14,486,953 11,829,052 5,107,156 8,956,426
3,353,913 2,984,565 2,547,042 2,231,704 2,087,567 1,853,307
81,723,490 83,394,037 90,435,589 96,288,011 88,787,392 102,762,383
8,795,466 10,339,739 9,880,585 10,634,065 15,164,208 16,376,087
6,197,752 7,399,749 7,399,181 7,547,458 14,915,126 19,318
1,801,454 1,729,509 1,789,883 2,051,642 2,034,331 2,326,072
1,119,994 1,157,835 1,129,077 1,064,737 1,172,689 1,276,248
386,244 449,674 364,679 409,584 487,345 428,679
18,300,910 21,076,506 20,563,405 21,707,486 33,773,699 20,426,404
100,024,400 $ 104,470,543 $ 110,998,994 $ 117,995,497 $ 122,561,091 $ 123,188,787 $
3,854,148 $ 3,564,720 $ 7,242,189 $ 7,090,956 $ 6,776,652 $ 4,015,275 $
5,195,936 4,967,056 5,339,032 7,789,777 8,017,412 8,036,363
- 945,812 945,521 945,106 1,011,433 962,941
2,015,239 850,749 469,771 817,593 137,783 261,785
1,832,805 1,960,093 1,875,489 2,079,987 1,740,265 1,857,331
2,439,618 746,987 203,909 5,162,690 18,639,549 299,776
15,337,746 13,035,417 16,075,911 23,886,109 36,323,094 15,433,471
9,751,605 11,351,729 11,213,172 11,431,761 12,738,153 14,276,095
8,120,035 8,229,828 8,611,294 8,068,712 2,549,981 -
2,314,028 2,523,022 2,355,451 2,263,025 2,523,041 2,569,752
2,156,636 2,063,759 2,190,544 1,891,731 1,996,831 2,075,114
525,991 526,212 570,670 615,754 619,764 640,382
27,854 - - - - -
- - - - - -
22,896,149 24,694,550 24,941,131 24,270,983 20,427,770 19,561,343
38,233,895 $ 37,729,967 $ 41,017,042 $ 48,157,092 $ 56,750,864 $ 34,994,814 $
(66,385,744) $ (70,358,620) $ (74,359,678) $ (72,401,902) $ (52,464,298) $ (87,328,912) $
4,595,239 3,618,044 4,377,726 2,563,497 (13,345,929) (865,061)
(61,790,505) $ (66,740,576) $ (69,981,952) $ (69,838,405) $ (65,810,227) $ (88,193,973) $
Fiscal Year
199
Village of Glenview, Illinois
Changes in Net Position (Continued)
Last Ten Fiscal Years
2007 2008 2009 2010
General revenues and other changes in net position
Governmental activities
Taxes
Property taxes 29,533,794 $ 37,030,734 $ 33,863,907 $ 34,759,914 $
Other taxes 7,938,804 7,213,927 12,659,075 12,962,485
Sales taxes 18,238,196 18,649,183 11,943,633 12,336,353
Income taxes 3,933,680 4,207,152 3,612,282 3,497,759
Intergovernmental 959,789 1,486,645 2,519,306 2,772,575
Investment income 7,202,556 2,234,453 975,360 731,839
Miscellaneous 2,473,480 3,301,455 611,793 470,187
Gain on sale of capital assets 467,801 - - -
Transfers (989,499) 287,180 4,399,659 1,777,004
Contributions - - - -
Total governmental activities 69,758,601 74,410,729 70,585,015 69,308,116
Business-type activities
Investment income 351,186 232,871 60,349 24,419
Miscellaneous 33,313 35,148 28,928 (18,808)
Gain (loss) on sale of capital assets (21,676) - - -
Gain (loss) on legal settlement - - - -
Transfers 989,499 (287,180) (4,399,659) (1,723,932)
Total Business-type activities 1,352,322 (19,161) (4,310,382) (1,718,321)
Total primary government 71,110,923 $ 74,391,568 $ 66,274,633 $ 67,589,795 $
Change in net position
Governmental activities 4,977,650 $ 2,947,541 $ 395,277 $ (6,471,721) $
Business-type activities 2,445,887 1,473,660 (894,577) 488,945
Total primary government change in net position 7,423,537 $ 4,421,201 $ (499,300) $ (5,982,776) $
Source: The Village of Glenview's Comprehensive Annual Financial Report.
200
2011 2012 2013 2014 2015 2016
40,146,639 $ 37,275,705 $ 37,383,036 $ 40,785,102 $ 41,564,097 $ 44,672,858 $
13,257,071 13,495,498 13,944,053 14,406,764 14,460,977 14,367,678
12,792,723 13,091,218 13,833,697 14,972,367 15,635,705 16,189,240
3,823,315 3,962,313 4,309,714 4,232,425 4,832,506 4,293,596
2,502,500 2,614,374 2,739,777 2,839,239 2,950,181 3,174,289
397,478 860,108 785,925 1,407,626 667,765 1,145,352
464,084 1,562,876 4,104,857 1,703,769 1,701,143 4,075,921
- - - - - -
(2,755,391) 827,016 822,322 1,313,328 11,000,896 971,962
- - - - - -
70,628,419 73,689,108 77,923,381 81,660,620 92,813,270 88,890,896
26,807 33,790 27,046 (153,614) 15,093 9,637
7,479 41,947 6,290 21,553 15,942,418 7,794
- - - - - -
- - 1,571,012 - - -
2,755,391 (827,016) (822,322) (1,313,328) (11,000,896) (971,962)
2,789,677 (751,279) 782,026 (1,445,389) 4,956,615 (954,531)
73,418,096 $ 72,937,829 $ 78,705,407 $ 80,215,231 $ 97,769,885 $ 87,936,365 $
4,242,675 $ 3,330,488 $ 3,563,703 $ 9,258,718 $ 40,348,972 $ 1,561,984 $
7,384,916 2,866,765 5,159,752 1,118,108 (8,389,314) (1,819,592)
11,627,591 $ 6,197,253 $ 8,723,455 $ 10,376,826 $ 31,959,658 $ (257,608) $
Fiscal Year
201
Village of Glenview, Illinois
Fund Balances of Governmental Funds
Last Ten Fiscal Years
2007 2008 2009 2010
General Fund
Reserved 202,583 $ 236,776 $ 82,583 $ 82,583 $
Unreserved 18,625,051 15,965,220 20,044,782 21,994,901
Nonspendable - - - -
Committed - - - -
Assigned - - - -
Unassigned - - - -
Total General Fund 18,827,634 16,201,996 20,127,365 22,077,484
All other governmental funds
Reserved 70,662,782 66,882,660 59,293,215 49,720,439
Unreserved, reported in
Special revenue funds (2,172,942) 1,495,858 1,832,064 (921,028)
Capital project funds (33,701) 14,453,200 10,053,987 10,057,895
Debt service funds 14,513,477 (77,170) 15,676 30,942
Nonspendable - - - -
Restricted - - - -
Assigned - - - -
Unassigned - - - -
Total all other governmental
funds 82,969,616 82,754,548 71,194,942 58,888,248
Total fund balances -
governmental funds 101,797,250 $ 98,956,544 $ 91,322,307 $ 80,965,732 $
Source: The Village of Glenview's Comprehensive Annual Financial Report.
The Village implemented GASB Statement No. 54 in 2011.
202
2011 2012 2013 2014 2015 2016
-$ -$ -$ -$ -$ -$
- - - - - -
131,424 195,280 87,738 176,110 499,800 155,205
- - 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 25,335,141
24,218,026 25,760,086 31,818,821 30,696,862 26,238,872 25,490,346
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- 64,508 53,289 42,070 30,851 19,633
52,257,800 45,978,154 11,484,242 2,407,413 2,194,487 2,906,999
- - 42,275,455 31,933,727 34,155,883 31,341,543
- - - (13,171,320) (11,572,271) (8,935,926)
52,257,800 46,042,662 53,812,986 21,211,890 24,808,950 25,332,249
76,475,826 $ 71,802,748 $ 85,631,807 $ 51,908,752 $ 51,047,822 $ 50,822,595 $
Fiscal Year
203
Village of Glenview, Illinois
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
2007 2008 2009 2010
Revenues
Taxes 40,995,097 $ 49,775,754 $ 46,522,982 $ 47,721,989 $
Intergovernmental 26,398,055 23,994,061 23,236,550 25,493,952
Charges for services 3,347,415 3,879,939 5,787,188 6,892,913
Licenses and permits 1,317,359 1,492,506 2,441,730 3,190,826
Fines and forfeitures 242,596 174,506 189,433 134,783
Investment income 6,139,481 2,234,453 975,370 731,839
Miscellaneous
Land sales 1,003,082 3,126,283 - -
Other 1,892,301 175,172 46,804 219,046
Total revenues 81,335,386 84,852,674 79,200,057 84,385,348
Expenditures
General government 24,981,918 26,494,899 27,133,683 29,090,926
Public safety 25,418,302 26,685,166 25,745,800 27,884,435
Highways and streets 12,229,547 - - -
Public works - 7,656,205 7,918,533 7,811,605
Development - 3,892,684 6,058,864 5,723,642
Debt service
Principal 9,885,000 9,335,000 9,660,000 9,740,000
Interest and fiscal charges 6,678,361 6,011,806 5,304,081 4,246,896
Bond issuance costs - - 37,153 -
Capital outlay 8,918,984 9,593,304 8,858,147 12,030,923
Miscellaneous - - - -
Total expenditures 88,112,112 89,669,064 90,716,261 96,528,427
Excess of revenues over (under)
expenditures (6,776,726) (4,816,390) (11,516,204) (12,143,079)
Other financing sources (uses)
Transfers in 34,081,992 20,474,754 19,116,695 15,678,978
Transfers out (35,071,491) (18,499,070) (15,420,632) (13,901,974)
Bonds issued - - 39,838,247 -
Discounts on bonds issued - - - -
Premium on bonds issued - - - -
Payment to escrow agent - - (39,652,343) -
Proceeds from capital lease - - - -
Sale of capital assets 15,675 - - 9,500
Total other financing sources (uses)(973,824) 1,975,684 3,881,967 1,786,504
Net change in fund balances (7,750,550) $ (2,840,706) $ (7,634,237) $ (10,356,575) $
Debt service as a percentage of
noncapital expenditures 0.2092 0.1787 0.1833 0.1655
Source: The Village of Glenview's Comprehensive Annual Financial Report.
204
2011 2012 2013 2014 2015 2016
53,403,710 $ 50,771,203 $ 51,327,089 $ 55,191,866 $ 56,025,074 $ 59,040,536 $
26,342,403 24,796,132 25,747,882 28,843,610 47,874,058 29,203,967
6,111,175 6,519,625 8,082,885 9,789,188 11,784,003 10,235,729
1,859,161 1,923,238 4,461,768 5,103,571 3,208,298 2,088,538
181,361 224,198 228,419 255,899 164,673 209,062
397,478 422,751 341,472 399,971 306,361 544,236
- - - - - -
205,014 709,998 486,493 796,354 120,603 2,503,274
88,500,302 85,367,145 90,676,008 100,380,459 119,483,070 103,825,342
31,153,019 38,411,652 35,582,816 36,391,244 38,168,909 39,187,095
25,710,435 26,369,673 26,687,294 27,212,096 28,421,350 29,601,085
- - - - - -
7,883,609 7,036,995 7,489,675 9,523,902 9,260,772 10,229,806
4,293,220 1,261,328 1,016,437 4,078,982 3,947,132 3,992,133
10,051,617 8,208,235 30,983,776 32,364,371 17,975,309 8,230,309
3,762,159 3,279,464 2,761,174 2,388,883 2,263,186 1,923,782
38,818 139,044 61,176 - 20,250 -
8,336,649 6,060,977 8,253,623 34,631,202 43,130,127 12,108,321
- - - - - -
91,229,526 90,767,368 112,835,971 146,590,680 143,187,035 105,272,531
(2,729,224) (5,400,223) (22,159,963) (46,210,221) (23,703,965) (1,447,189)
31,368,232 6,281,471 13,052,864 16,557,993 33,455,261 9,514,205
(33,163,914) (5,702,833) (11,837,724) (12,684,506) (21,593,677) (8,292,243)
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 -
- - (3,859,114) 2,083,991 - -
(1,760,682) 727,145 35,989,022 12,487,166 22,843,035 1,221,962
(4,489,906) $ (4,673,078) $ 13,829,059 $ (33,723,055) $ (860,930) $ (225,227) $
0.1571 0.1328 0.3121 0.2834 0.1865 0.1031
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
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 -
2015 1,495,671,114 420,439,314 96,170,413 620,212 -
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
2,170,534,233$ 4.15 6,511,602,699$ 33.333%
2,693,236,118 3.69 8,079,708,354 33.333%
2,912,763,688 3.50 8,738,291,064 33.333%
3,001,671,651 3.62 9,005,014,953 33.333%
2,714,882,144 4.08 8,144,646,432 33.333%
2,448,167,001 4.56 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%
2,012,901,053 5.85 6,038,703,159 33.333%
207
Village of Glenview, Illinois
Direct and Overlapping Property Tax Rates
Last Ten Levy Years
2006 2007 2008 2009
Village of Glenview
Corporate 0.184 0.184 0.174 0.148
Bonds and interest 0.099 0.072 0.068 0.068
Police pension 0.060 0.049 0.040 0.060
Fire pension 0.072 0.064 0.068 0.085
Total direct tax rate 0.415 0.369 0.350 0.361
Glenview Public Library 0.246 0.149 0.195 0.210
Glenview Special Service Area #9 0.284 0.227 0.200 0.093
Glenview Special Service Area #10 0.293 0.238 0.209 0.100
Glenview Special Service Area #11 0.160 0.127 0.175 -
Glenview Special Service Area #12 0.242 0.172 0.159 -
Glenview Special Service Area #17 0.324 0.192 0.192 0.177
Glenview Special Service Area #18 0.363 0.269 0.242 0.221
Glenview Special Service Area #20 0.217 0.180 0.160 0.155
Glenview Special Service Area #22 0.193 0.137 0.129 0.117
Glenview Special Service Area #24 - - - -
Glenview Special Service Area #27 - - - -
Glenview Special Service Area #31 - - - -
Glenview Special Service Area #32 0.082 0.075 0.068 0.073
Glenview Special Service Area #33 0.440 0.349 0.308 0.287
Glenview Special Service Area #35 0.292 0.243 0.207 0.204
Glenview Special Service Area #36 0.191 0.143 0.127 0.108
Glenview Special Service Area #37 0.163 0.122 0.118 0.102
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 - - - 0.165
Glenview Special Service Area #63 - - - 0.183
Glenview Special Service Area #95 - - - -
208
2010 2011 2012 2013 2014 2015
0.162 0.177 0.188 0.203 0.176 0.162
0.076 0.084 0.083 0.095 0.091 0.092
0.065 0.074 0.073 0.098 0.098 0.127
0.105 0.120 0.139 0.157 0.188 0.203
0.408 0.455 0.482 0.553 0.553 0.584
0.253 0.303 0.347 0.396 0.394 0.415
- - - - - -
- - - - - -
- - - - - -
- - - - - -
0.210 0.115 - - - -
0.280 0.148 - - - -
0.165 - - - - -
0.142 - - - - -
- - - - - -
- - - - - -
- - - - - -
0.074 0.082 0.087 0.066 - -
0.333 0.370 0.391 0.422 - -
0.223 0.233 0.248 0.344 0.328 0.335
0.138 0.153 0.162 0.181 - -
0.117 0.133 0.141 0.159 - -
0.844 0.894 0.854 1.250 1.210 1.260
- 0.079 0.085 0.094 0.094 0.098
- 0.079 0.086 0.094 0.079 0.084
0.406 0.440 0.470 0.586 0.575 0.585
- 0.122 0.130 0.138 0.138 0.140
- 0.168 0.191 0.221 0.212 0.210
- 0.444 0.446 0.477 0.467 0.470
- 0.598 0.550 0.553 0.581 0.624
0.546 0.568 0.605 0.775 0.713 0.724
- 0.241 0.261 0.312 0.312 0.318
- 0.130 0.140 0.153 0.150 0.160
- 0.279 0.297 0.354 0.349 0.351
- 0.141 0.151 0.170 0.168 0.174
- 1.035 1.206 1.296 1.263 1.163
- 0.695 0.739 0.796 0.751 0.698
0.423 0.410 0.378 0.430 0.379 0.426
0.903 0.971 1.022 1.185 1.090 1.210
0.538 0.566 0.586 0.677 0.668 0.682
- 0.188 0.201 0.232 0.228 0.241
0.213 0.228 0.239 0.280 0.272 0.332
0.232 0.245 0.257 0.273 0.271 0.322
- - - - - 0.917
(Continued)
Tax Levy Year
209
Village of Glenview, Illinois
Direct and Overlapping Property Tax Rates (Continued)
Last Ten Levy Years
2006 2007 2008 2009
Avoca School District #37 2.008 1.594 1.755 1.698
County Consolidated Elections - 0.012 - 0.021
County of Cook 0.500 0.446 0.415 0.394
East Maine School District #63 2.617 2.276 2.233 2.235
Forest Preserve District 0.057 0.053 0.051 0.049
Glenview Park District 0.511 0.429 0.429 0.422
Glenview School District #34 2.334 1.953 1.909 1.876
Golf School District #67 2.094 1.859 1.807 1.943
Maine High School #207 1.826 1.602 1.577 1.617
Maine Township - General 0.073 0.065 0.064 0.067
Maine Township - General Assistance 0.016 0.002 0.015 0.016
Maine Township - Road and Bridge 0.038 0.034 0.033 0.034
Metropolitan Water Reclamation Dist.0.284 0.263 0.252 0.261
New Trier High School #203 1.662 1.299 1.290 1.237
New Trier Township - General 0.073 0.031 0.031 0.030
New Trier Township - General Assistance 0.003 0.003 0.003 0.003
Niles High School #219 2.374 2.114 2.120 2.267
Niles Township - General 0.031 0.027 0.027 0.029
Niles Township - General Assistance 0.003 0.003 0.003 0.003
North Shore Mosquito Abatement 0.009 0.008 0.008 0.008
Northbrook School District #30 2.471 2.138 2.089 2.089
Northfield High School #225 1.623 1.403 1.383 1.395
Northfield Township - General 0.011 0.010 0.009 0.010
Oakton Community College #535 0.166 0.141 0.140 0.140
Suburban T.B. Sanitarium 0.005 - - -
West Northfield School District #31 1.624 1.405 1.402 1.494
Wilmette School District #39 2.261 1.848 1.812 1.716
Northfield Township - Road and Bridge 0.035 0.030 0.030 0.031
Northfield Township - General Assistance 0.008 0.008 0.009 0.010
Northfield Woods Sanitary District 0.056 0.049 0.049 0.054
North Maine Fire Protection District 0.914 0.882 0.986 1.112
Northbrook Park District 0.406 0.342 0.332 0.334
Oak Meadow Sanitary District 0.045 0.004 0.037 0.038
Northwest Mosquito Abatement 0.009 0.008 0.008 0.008
Data Source
Office of the County Clerk
*Property tax rates are per $100 of assessed valuation
210
2010 2011 2012 2013 2014 2015
2.022 2.281 2.557 2.762 2.957 3.094
- 0.025 - 0.031 - -
0.423 0.462 0.531 0.560 0.568 0.552
2.499 2.775 3.100 3.864 3.811 4.040
0.051 0.058 0.063 0.069 0.069 0.069
0.483 0.538 0.579 0.662 0.661 0.684
2.160 2.429 2.706 3.129 3.173 3.291
2.203 2.449 2.961 3.497 3.427 3.552
1.782 1.995 2.215 2.722 2.739 2.901
0.075 0.085 0.096 0.120 0.119 0.124
0.018 0.021 0.023 0.029 0.029 0.031
0.038 0.043 0.049 0.061 0.062 0.065
0.274 0.320 0.370 0.417 0.430 0.426
1.474 1.674 1.864 2.111 2.268 2.380
0.037 0.042 0.047 0.054 0.055 0.058
0.004 0.005 0.006 0.007 0.007 0.008
2.538 2.904 3.256 3.707 3.650 3.891
0.032 0.037 0.042 0.049 0.050 0.052
0.004 0.005 0.006 0.007 0.007 0.008
0.009 0.010 0.010 0.007 0.011 0.012
2.327 2.641 2.999 3.381 3.272 3.394
1.609 1.819 2.028 2.341 2.367 2.493
0.013 0.020 0.024 0.031 0.032 0.028
0.160 0.196 0.219 0.256 0.258 0.271
- - - - - -
1.730 2.018 2.525 2.946 2.911 3.107
2.314 2.620 2.922 3.229 3.356 3.502
0.036 0.041 0.046 0.053 0.054 0.057
0.011 0.008 0.009 0.008 0.007 0.007
0.067 0.079 0.082 0.098 0.099 0.098
1.254 1.366 1.452 1.814 1.815 1.906
0.375 0.424 0.471 0.536 0.537 0.569
0.045 0.051 0.056 0.066 0.067 0.069
0.009 0.010 0.011 0.013 0.013 0.011
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
CLF (formerly Grubb & Ellis)27,512,833 $ 1 1.37%27,786,696 $ 2 1.08%
ITW 25,651,074 2 1.27%20,558,089 3 0.80%
Oliver McMillan LLC 24,217,379 3 1.20%
Astella US Holdings 18,967,364 4 0.94%
Mid America Asset 18,838,420 5 0.94%
Northshore University 17,047,480 6 0.85%
Anixter, Inc.14,854,261 7 0.74%17,130,303 5 0.67%
Abt Electronics 14,756,479 8 0.73%15,963,836 6 0.62%
Thomson Reuters Pts
(formerly Cole Real Estate)14,343,179 9 0.71%
AGF Sanders Office 11,367,364 10 0.56%
Kraft USA 48,920,456 1 1.91%
VI Communities
(formerly Classic Residence - Hyatt)19,709,361 4 0.77%
Mid American Asset 14,269,339 7 0.56%
Capmark Finance 13,329,610 8 0.52%
Pearson Tax Dept.12,695,181 9 0.49%
Bethany Methodist 12,255,058 10 0.48%
187,555,833 $ 9.31%202,617,929 $ 7.90%
Note: Every effort has been made to seek out and report the largest taxpayers. However, many of the taxpayers
own multiple parcels, and it is possible that some parcels and their valuations have been overlooked.
Principal Property Taxpayers
Current Year and Ten Years Ago
20072016
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
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%124,258 13,522,417 97.15%
2008 2009 15,858,539 15,345,443 96.76%129,254 15,474,697 97.58%
2009 2010 17,136,858 16,810,757 98.10%(117,313)16,693,444 97.41%
2010 2011 17,919,376 17,269,565 96.37%276,588 17,546,153 97.92%
2011 2012 18,561,309 18,202,205 98.07%102,833 18,305,038 98.62%
2012 2013 18,977,508 18,647,991 98.26%202,413 18,850,404 99.33%
2013 2014 19,213,934 18,997,309 98.87%106,157 19,103,466 99.43%
2014 2015 19,401,830 19,017,834 98.02%176,170 19,194,004 98.93%
2015 2016 20,103,470 19,871,822 98.85%- 19,871,822 98.85%
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*
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
2016 53,732,671 4,271,187 - - 6,829,143 64,833,001 2.73%1,428
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)
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
2016 53,732,671 - 53,732,671 2.67%1,184
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, 2016
Percentage Village of
Debt Applicable Glenview
to the Village of Share
Governmental unit Debt Glenview (1)of Debt
Direct bonded debt
Village of Glenview 53,732,671 $ 100.00%53,732,671 $
Overlapping Bonded Debt
Glenview Special Service Areas 2,416,895 100.00%2,416,895
Glenview Park District 11,127,000 85.24%9,484,655
Cook County, including Forest Preserve District 3,370,651,750 1.52%51,233,907
Metropolitan Water Reclamation District 2,558,808,902 1.52%38,893,895
School Districts
Elementary School Districts
Avoca School District No. 37 3,480,000 8.22%286,056
East Maine School District No. 63 7,700,000 4.20%323,400
Glenview School District No. 34 19,045,000 90.31%17,199,540
Golf School District No. 67 10,500,470 7.85%824,287
West Northfield School District No. 31 4,005,000 48.80%1,954,440
Wilmette School District No. 39 10,825,000 4.72%510,940
High School Districts
Maine Township District No. 207 15,600,000 1.00%156,000
New Trier Township District No. 203 92,310,000 2.31%2,132,361
Niles Township District No. 219 134,253,952 0.72%966,628
Northfield Township District No. 225 73,009,613 42.02%30,678,639
Community College District
Oakton Community College No. 535 30,895,000 10.78%3,330,481
Total overlapping bonded debt 6,344,628,582 160,392,124
Total direct and overlapping bonded debt 6,398,361,253 $ 214,124,795 $
Source: Cook County Clerk as of 12/31/15
(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 2014
real property valuations.
216
Village of Glenview, Illinois
Legal Debt Margin Information
As of December 31, 2016
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
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%
2016 45,969 2,398,065 52,167 4.1%
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 1,400 3.05%3 1,100 2.48%
Astellas 2 1,267 2.76%
Glenbrook Hospital 3 1,099 2.39%4 900 2.03%
Anixter, Inc.4 850 1.85%8 500 1.13%
ITW/Signode 5 695 1.51%5 850 1.91%
Glenview Comm. School Dist 34 6 694 1.51%6 590 1.33%
Kraft Foods Technology Center 7 550 1.20%1 2,120 4.77%
Glenbrook South High School 8 431 0.94%9 413 0.93%
Signode 9 390 0.85%
Glenview Terrace Nursing Home 10 375 0.82%
AON Insurance 2 1,200 2.70%
Scott Foresman (Pearson)7 569 1.28%
Village of Glenview 10 332 0.75%
16.86%19.31%
Source: Illinois Manufacturers Services Directory, Illinois Services Directory and Employer Contact.
Principal Employers
Current Year and Ten Years Ago
2016 2007
219
Village of Glenview, Illinois
Full-Time Equivalent Employees
Last Ten Fiscal Years
Function/Program 2007 2008 2009 2010
General Government
Management services (1)12 13 10 10
Finance 16 - - -
Administrative services (1)- 22 14 16
Planning and economic
development (2)- 32 21 23
Planning 2 - - -
Code enforcement 16 - - -
Community development (3)14 - - -
Capital projects (3)- 17 13 11
Total general government 60 84 58 60
Public safety
Police
Officers 78 77 74 73
Civilians 18 19 18 17
Fire
Firefighters and officers 85 84 82 84
Civilians 11 - - 2
Joint dispatch - 15 20 20
Total public safety 192 195 194 196
Public works
Administration 6 6 6 4
Engineering 8 - - -
Facilities maintenance (4)- - - -
Street maintenance 45 22 21 21
Water maintenance 21 29 28 29
Fleet maintenance - 6 6 5
Natural resources - 2 1 1
Total public works 80 65 62 60
Total full-time equivalent
employees 332 344 314 316
(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
2011 2012 2013 2014 2015 2016
11 15 15 15 9 9
- - - - - -
13 13 12 13 16 16
- -
5 5 5 - - -
- - - - - -
- - - - - -
- - - 21 20 19
25 25 20 - - -
54 58 52 49 45 44
71 70 70 70 70 70
16 12 12 11 5 5
80 80 80 80 80 80
2 2 2 1 1 1
19 21 27 40 40 42
188 185 191 202 196 198
6 6 6 6 5 6
- - - - - -
- - - 4 4 4
20 21 21 21 21 21
21 18 19 19 16 16
3 4 4 4 4 4
1 1 1 1 1 1
51 50 50 55 51 52
293 293 293 306 292 294
221
Village of Glenview, Illinois
Operating Indicators
Last Ten Fiscal Years
Function/Program 2007 2008 2009 2010
Public Safety
Police
Physical arrests 1,003 1,677 1,475 1,088
Parking violations 2,206 2,962 3,518 2,998
Traffic violations 5,800 4,101 3,024 2,301
Fire
Emergency responses
Emergency medical 4,707 4,873 4,588 4,653
Other responses 3,148 2,885 2,561 2,249
Fires extinguished 100 - - 52
Fires extinguished (structures)- 39 11 21
Public works
Pothole repairs (hours)1,062 2,425 5,910 4,444
Water
Metered water customers 15,663 15,754 15,769 15,781
Water main breaks 130 93 96 134
Water purchases
(in ten-thousands of gallons)318,381 306,164 301,349 292,882
Average daily consumption 196 186 183 141
Building
Permits issued 2,739 2,837 2,376 2,535
Value of construction
(in thousands of dollars)108,455 $ 106,000 $ 133,737 $ 110,191 $
Data Source
Various Village departments.
222
2011 2012 2013 2014 2015 2016
571 544 570 506 551 557
2,243 1,125 2,272 1,922 2,388 1,813
2,446 2,511 2,646 2,352 2,198 3,491
4,948 4,832 4,495 4,860 4,925 5,220
2,359 2,327 2,835 2,821 2,898 3,032
28 63 47 39 41 42
26 27 26 32 45 38
3,453 4,267 4,390 5,182 5,519 4,115
15,786 15,894 15,889 16,050 16,053 16,139
114 171 146 102 59 134
285,877 306,706 289,550 273,095 272,568 288,410
133 138 129 120 111 107
2,552 1,471 1,918 3,503 3,433 2,042
98,541 $ 39,693 $ 164,556 $ 193,829 $ 119,447 $ 110,630 $
223
Village of Glenview, Illinois
Capital Asset Statistics
Last Ten Fiscal Years
Function/Program 2007 2008 2009 2010
Public Safety
Police
Police stations 1 1 1 1
Marked patrol units 18 18 18 18
Unmarked patrol units 9 9 12 12
Motorcycles 3 3 4 4
Civilian vehicles N/A N/A N/A N/A
Fire
Fire stations 5 5 5 5
Ambulances 4 4 4 4
Fire engines 4 4 6 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 18 18
Residential street miles 126 126 158 158
Streetlights 1,800 1,800 1,800 1,800
Water
Water main miles 230 230 230 230
Fire hydrants 2,668 2,668 2,713 2,733
Storage capacity
(in millions of gallons)18,000 18,000 16,050 16,050
Wastewater
Sanitary sewer miles 128 128 128 150
Storm sewer miles 175 165 165 262
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
2011 2012 2013 2014 2015 2016
1 1 1 1 1 1
18 18 18 18 18 18
12 12 11 11 11 11
4 4 4 4 4 4
N/A 3 3 3 3 3
5 5 5 5 5 5
4 4 4 4 4 4
6 6 6 6 6 6
1 1 2 2 2 2
N/A 6 6 5 5 2
18 18 18 18 20 20
158 158 158 167 167 169
1,800 1,800 1,800 1,800 1,800 1,800
230 230 230 247 230 233
2,733 2,733 2,733 2,823 2,866 2,867
16,050 16,050 16,050 16,300 16,300 16,300
150 150 150 150 150 150
262 262 262 262 262 262
1,450 2,048 2,153 2,153 2,153 2,153