HomeMy Public PortalAboutFY 2017 Certified Comprehensive Annual Financial ReportVillage of Glenview,
Illinois
Comprehensive Annual Financial Report
For the Fiscal Year Ended December 31, 2017
COMPREHENSIVE ANNUAL
FINANCIAL REPORT
OF THE
VILLAGE OF GLENVIEW, ILLINOIS
As of and for the Year Ended December 31, 2017
Prepared by:
Administrative Services - Finance Division
VILLAGE OF GLENVIEW
TABLE OF CONTENTS
As of and for the Year Ended December 31, 2017
Page(s)
INTRODUCTORY SECTION
Officers and Officials i
Certificate of Achievement for Excellence in Financial Reporting ii
Organizational Chart iii
Letter of Transmittal iv - viii
FINANCIAL SECTION
INDEPENDENT AUDITORS' REPORT 1 - 3
REQUIRED SUPPLEMENTARY INFORMATION
Management's Discussion and Analysis 4 - 20
BASIC FINANCIAL STATEMENTS
Government-Wide Financial Statements
Statement of Net Position 21
Statement of Activities 22 - 23
Fund Financial Statements
Balance Sheet - Governmental Funds 24 - 25
Reconciliation of the Balance Sheet of Governmental Funds to the Statement
of Net Position 26
Statement of Revenues, Expenditures and Changes in Fund Balances -
Governmental Funds 27
Reconciliation of the Statement of Revenues, Expenditures and Changes in
Fund Balances of Governmental Funds to the Statement of Activities 28
Statement of Net Position - Proprietary Funds 29 - 30
Statement of Revenues, Expenses and Changes in Net Position - Proprietary
Funds 31
Statement of Cash Flows - Proprietary Funds 32 - 33
Statement of Fiduciary Net Position - Fiduciary Funds 34
Statement of Changes in Fiduciary Net Position - Pension Trust Funds 35
Index to Notes to Financial Statements 36
Notes to Financial Statements 37 - 100
VILLAGE OF GLENVIEW
TABLE OF CONTENTS (cont.)
As of and for the Year Ended December 31, 2017
REQUIRED SUPPLEMENTARY INFORMATION
Historical Pension and Other Postemployment Benefit Information
Illinois Municipal Retirement Fund - Schedule of Changes in the Village's Net
Pension Liability and Related Ratios 101
Illinois Municipal Retirement Fund - Schedule of Employer Contributions 102
Police Pension Fund - Schedule of Changes in the Village's Net Pension
Liability and Related Ratios 103 - 104
Police Pension Fund - Schedule of Employer Contributions 105 - 106
Police Pension Fund - Schedule of Investment Returns 107
Firefighters' Pension Fund - Schedule of Changes in the Village's Net Pension
Liability and Related Ratios 108 - 109
Firefighters' Pension Fund - Schedule of Employer Contributions 110 - 111
Firefighters' Pension Fund - Schedule of Investment Returns 112
Other Postemployment Benefit Plan - Schedule of Funding Progress 113
General Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget
and Actual - General Fund 114
Special Revenue Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget
and Actual - Special Tax Allocation Fund - Major Special Revenue Fund 115
Notes to Required Supplementary Information 116
SUPPLEMENTARY INFORMATION
General Fund
Detailed Schedule of Revenues and Other Financing Sources - Budget and Actual
- General Fund 117 - 119
Detailed Schedule of Expenditures and Other Financing Uses - Budget and Actual -
General Fund 120 - 124
Other Governmental Funds
Combining Balance Sheet - Nonmajor Governmental Funds 125 - 126
Combining Statement of Revenues, Expenditures and Changes in Fund Balances -
Nonmajor Governmental Funds 127 - 128
Detailed Schedule of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Motor Fuel Tax Fund - Nonmajor Special Revenue Fund 129
Foreign Fire Insurance Fund - Nonmajor Special Revenue Fund 130
VILLAGE OF GLENVIEW
TABLE OF CONTENTS (cont.)
As of and for the Year Ended December 31, 2017
SUPPLEMENTARY INFORMATION (cont.)
Police Department Special Account Fund - Nonmajor Special Revenue Fund 131
Waukegan Golf TIF Fund - Nonmajor Special Revenue Fund 132
Corporate Purpose Bonds Fund - Nonmajor Debt Service Fund 133
Capital Projects Fund - Nonmajor Capital Projects Fund 134
Glen Capital Projects Fund - Nonmajor Capital Projects Fund 135
Village Permanent Fund - Major Capital Projects Fund 136
Enterprise Funds
Combining Statement of Net Position - Nonmajor Enterprise Funds 137
Combining Statement of Revenue, Expenses and Changes in Net Position -
Nonmajor Enterprise Funds 138
Combining Statement of Cash Flows - Nonmajor Enterprise Funds 139
Detailed Schedule of Revenues, Expenses and Changes in Net Position - Budget
and Actual
Wholesale W ater Fund - Nonmajor Enterprise Fund 140
Commuter Parking Lot Fund - Nonmajor Enterprise Fund 141
Glenview W ater Fund - Major Enterprise Fund 142 - 143
Glenview Sanitary Sewer Fund - Major Enterprise Fund 144
Internal Service Funds
Combining Statement of Net Position - Internal Services Funds 145
Combining Statement of Revenues, Expenses and Changes in Net Position -
Internal Service Funds 146
Combining Statement of Cash Flows - Internal Service Funds 147 - 148
Detailed Schedule of Revenues, Expenses and Changes in Net Position - Budget
and Actual
Capital Equipment Replacement Fund (CERF) - Internal Service Fund 149
Municipal Equipment Repair Fund (MERF) - Internal Service Fund 150
Insurance and Risk Fund - Internal Service Fund 151
Facilities Repair and Replacement Fund - Internal Service Fund 152
Fiduciary Funds
Combining Statement of Fiduciary Net Position- Pension Trust Funds 153
Combining Statement of Changes in Fiduciary Net Position - Pension Trust Funds 154
VILLAGE OF GLENVIEW
TABLE OF CONTENTS (cont.)
As of and for the Year Ended December 31, 2017
SUPPLEMENTARY INFORMATION (cont.)
Detailed Schedule of Changes in Fiduciary Net Position - Budget and Actual
Police Pension Fund - Pension Trust Fund 155
Firefighters' Pension Fund - Pension Trust Fund 156
Glenview Library - Component Unit
Combining Balance Sheet and Statement of Net Position - Glenview Library -
Component Unit 158 - 161
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances
and Statement of Activities - Glenview Library - Component Unit 162 - 163
Detailed Schedule of Revenues, Expenditures, and Changes in Fund Balances -
Budget and Actual - Glenview Library - Component Unit
Library General Fund 164 - 166
Library Debt Service Fund 167
Combining Balance Sheet - Glenview Library - Component Unit - Library Nonmajor
Funds 168 - 169
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances
- Glenview Library - Component Unit - Library Nonmajor Funds 170 - 171
Detailed Schedule of Revenues, Expenditures, and Changes in Fund Balances -
Budget and Actual - Glenview Library - Component Unit - Library Nonmajor
Funds
Library Special Reserve Fund 172
Long-Term Debt Requirements
General Obligation Bond Series 2009A 173
General Obligation Bond Series 2009D 174
Illinois Environment Protection Agency Loan 175
General Obligation Refunding Bond Series 2012A 176
General Obligation Refunding Bond Series 2012B 177
General Obligation Refunding Bond Series 2012C 178
General Obligation Bond Series 2013A 179
General Obligation Bond Series 2013B 180
5-Year Loan 181
General Obligation Bond Series 2015 182
General Obligation Refunding Bond Series 2016A 183
Advanced Metering Infrastructure Loan 184
VILLAGE OF GLENVIEW
TABLE OF CONTENTS (cont.)
As of and for the Year Ended December 31, 2017
SUPPLEMENTARY INFORMATION (cont.)
Glenview Naval Air Station (GNAS) Redevelopment Area Funds
Combining Balance Sheet 185
Combining Schedule of Revenues, Expenditures, and Changes in Fund Balances 186
STATISTICAL SECTION
Net Position - Last Ten Fiscal Years 187 - 188
Changes in Net Position - Last Ten Fiscal Years 189 - 192
Fund Balances of Governmental Funds - Last Ten Fiscal Years 193 - 194
Changes in Fund Balances of Governmental Funds - Last Ten Fiscal Years 195 - 196
Assessed Value and Actual Value of Taxable Property - Last Ten Levy Years 197 - 198
Direct and Overlapping Property Tax Rates - Last Ten Levy Years 199 - 202
Principal Property Tax Payers - Current Year and Nine Years Ago 203
Property Tax Levies and Collections - Last Ten Tax Levy Years 204
Ratios of Outstanding Debt by Type - Last Ten Fiscal Years 205
Ratios of General Bonded Debt Outstanding - Last Ten Fiscal Years 206
Direct and Overlapping Governmental Activities Debt 207
Legal Debt Margin Information 208
Demographic and Economic Statistics - Last Ten Fiscal Years 209
Principal Employers - Current Year and Nine Years Ago 210
Full-time Equivalent Employees by Function/Program - Last Ten Fiscal Years 211 - 212
Operating Indicators by Function/Program - Last Ten Fiscal Years 213 - 214
Capital Asset Statistics by Function/Program - Last Ten Fiscal Years 215 - 216
-i-
VILLAGE OF GLENVIEW, ILLINOIS
OFFICERS AND OFFICIALS
December 31, 2017
LEGISLATIVE
James R. Patterson, Jr.
Village President
Philip O’C. White, Trustee Deborah Karton, Trustee
John Hinkamp, Trustee Scott Britton, Trustee
Michael Jenny, Trustee Karim Khoja, Trustee
Matthew J. Formica
Village Clerk/Treasurer
ADMINISTRATIVE
Matthew J. Formica, Village Manager
Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
Village of Glenview
Illinois
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
December 31, 2016
~p.~,
Executive Director/CEO
viii
2500 East Lake Avenue Glenview, IL 60026 (847) 904-4370 Fax (847) 724-1518 www.glenview.il.us
-iv-
May 30, 2018
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, 2017 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.
Baker Tilly Virchow Krause, 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, 2017. The independent auditors’ 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.
-v-
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.
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 2016
assessed valuation, 76.5% was classified as residential, and 23.5% was commercial/industrial.
A number of revenue sources in 2017 showed a sizeable increase over last year. For example, during 2017,
the annual sales tax revenue amount of $17,223,884 was 6.39% higher than the sales tax revenue received
in 2016. Another example is the home rules sales tax increased 5.7% in 2017 from a 2016 amount of
$7,948,198 to the 2017 amount of $8,401,525.
-vi-
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 2017. 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 26% of sales tax receipts in 2017, the Village’s overall reliance on Automobile and Filling
stations has been reduced while the sales tax receipts in other sales tax categories have increased.
Major Initiatives and Accomplishments
Village Board Goals and Initiatives – The Board of Trustees’ 2017 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 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 certain 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.
Another accomplishment for the Village is their success in obtaining outside funding for capital projects.
From 2014 to 2017, the Village received over $33,500,000 in state and federal funds to support a number
of infrastructure projects. Additionally, the Village has secured $17,500,000 in state and federal funds for
projects scheduled through 2023.
During 2017, the Village continued to adhere to their General Fund Balance (Reserve) policy of
maintaining an unassigned fund balance at 30%-40% of total expenditures by developing a planned use
of $374,812 of the General Fund Balance.
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Development Initiatives
In 2017, several significant redevelopment projects were approved or constructed as follows:
In 2016, the Village approved the opening of its first craft brewery and tasting room. Ten Ninety
Brewing Company moved into a newly renovated building in the Downtown District. The Village’s
second brewery and tasting room, Machusla Brewing Company, was approved in 2016 and opened in
2017 on East Lake Avenue next to Hackney’s.
A new 15,000 square foot children’s daycare named the Kensington School for 140 infants to
preschoolers was also approved in 2016 along Chestnut Road, west of Lehigh Avenue. Construction
began in 2017 and the facility is scheduled to open in 2018.
Anthem Memory Care proposed a 43,000 square foot senior memory care facility, which was
approved in 2016 at 1879 Chestnut Avenue. The 66 bed project named Emerald Place began
construction that same year with occupation of the building occurring in late 2017.
In 2016, plans for a new 3,500 square foot Culver’s Restaurant and 4,200 square foot outlot building
were approved near the Chestnut and Waukegan intersection. In 2017, the Culver’s plans were revised
to eliminate the outlot building and place all the stormwater detention above-ground. Construction is
expected to take place in 2018.
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 was approved in 2017 and construction
commenced in 2018.
In 2017, Capital Senior Housing development was approved for a 73,000 square foot assisted living
and memory care facility named Atria Senior Housing with 83 units at 4700 West Lake Avenue.
Construction on the facility began in 2018.
The entire streetscape of downtown Glenview was reconstructed in 2017, leading to additional
parking, enhanced landscaping and lighting, and dedicated zones for pedestrians and outdoor diners.
In 2017, Costco Wholesale received approvals to add 6 new gas pumps to their existing fueling station
on Patriot Boulevard to meet customer demand. Construction is expected to begin in 2018.
In 2017, Fertility Centers of Illinois received approvals for a 30,000 square foot office building at 2555
Patriot Boulevard. The project is under construction and anticipated to be occupied by summer 2018.
The Goddard School, a 9,600 square foot, 1-story day-care facility, on Milwaukee Avenue was
approved in 2017 with construction expected in 2018.
Abt Electronics was granted authority to construct additional loading docks, a truck service building,
employee parking, and truck parking expansion at 1200 Milwaukee Avenue.
-viii-
Page 4
See independent auditors’ report.
Village of Glenview, Illinois
Management’s Discussion and Analysis
December 31, 2017
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, 2017. Please read it in conjunction
with the transmittal letter, which begins on page i and the Village’s basic financial statements, which begin
on page 21.
FINANCIAL HIGHLIGHTS
The Village’s net position of governmental activities and business-type activities increased by
$10,842,847, or 5.9%, and $2,305,595, or 3.9%, respectively, resulting in total ending net position
for the year of $254,940,951.
During the year, government-wide revenues before transfers for the governmental and business-
type activities totaled $132,483,309, while expenses totaled $119,334,867, resulting in the
increase in net position of $13,148,442.
The Village’s net position totaled $254,940,951 on December 31, 2017, an increase of
$13,148,442 from the prior fiscal year.
The ending fund balance for the General Fund equaled $29,758,892, an increase of $4,268,546
primarily due to lower than anticipated budgeted expenditures offset by one-time revenues and
higher than anticipated revenue streams.
USING THIS ANNUAL REPORT
This annual report consists of a series of financial statements. The Statement of Net Position and the
Statement of Activities (on pages 21-26) 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 27. For
governmental activities, these statements tell how these services were financed in the short term as well
as what remains for future spending. Fund financial statements also report the Village’s operations in
more detail than the government-wide statements by providing information about the Village’s most
significant funds. The remaining statements provide financial information about fiduciary activities for
which the Village acts solely as a trustee or agent for the benefit of those outside of the government.
Government-Wide Financial Statements
The government-wide financial statements provide readers with a broad overview of the Village’s
finances, in a manner similar to a private-sector business. The government-wide financial statements can
be found on pages 21-23 of this report.
Page 5
See independent auditors’ report.
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2017
USING THIS ANNUAL REPORT – Continued
Government-Wide Financial Statements - Continued
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 them reported as net
position. Over time, increases or decreases in net position may serve as a useful indicator of whether the
financial position of the Village is improving or deteriorating. Consideration of other nonfinancial factors,
such as changes in the Village’s property tax base and the condition of the Village’s infrastructure, is
needed to assess the overall health of the Village.
The Statement of Activities presents information showing how the government’s net position changed
during the most recent fiscal year. All changes in net position are reported as soon as the underlying
event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and
expenses are reported in this statement for some items that will only result in cash flows in future fiscal
periods (e.g., uncollected taxes and earned but unused vacation leave).
Both of the government-wide financial statements distinguish functions of the Village that are principally
supported by taxes and intergovernmental revenues (governmental activities) from other functions that
are intended to recover all or a significant portion of their costs through user fees and charges (business-
type activities). The governmental activities of the Village include general government, public works,
public safety, and development. The business-type activities of the Village include water and sanitary
sewer operations, 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.
Page 6
See independent auditors’ report.
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2017
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 24-28 of this report.
Proprietary Funds
The Village maintains two proprietary fund types: enterprise and internal service. Enterprise funds are
used to report the same functions presented as business-type activities in the government–wide financial
statements. The Village utilizes enterprise funds to account for its water and sanitary sewer operations,
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 and the Glenview Sanitary Sewer Fund, both 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 29-33 of this report.
Page 7
See independent auditors’ report.
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2017
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 34-35 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 37-100 of this report.
Other Information
In addition to the basic financial statements and accompanying notes, this report also presents certain
required supplementary information concerning the Village’s Illinois Municipal Retirement Fund, police
and fire pension funds, and other post-employment benefit employee pension obligations. The required
supplementary information also contains budget to actual comparison schedules for the General Fund
and major special revenue funds. Required supplementary information can be found on pages 101-116 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
117-157 of this report. Additionally, the combining and individual fund statements for the component unit
can be found on pages 158-172.
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 $254,940,951 at December 31, 2017, compared to $241,792,509 at
December 31, 2016. 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, 2017 is $79,062,575 which is
made up of $11,431,425, $25,274,085 and $42,357,065, respectively. The Village’s total net pension
liability at December 31, 2016 was $87,361,922 and was made up of $12,385,506, $27,995,017 and
$46,981,399, 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, 2017, the Village has offset the total net pension liabilities of $79,062,575 with deferred
outflows of $19,614,475 and deferred inflows of $8,763,875. At December 31, 2016, the Village had
offset the total net pension liabilities of $87,361,922 with deferred outflows of $28,905,008 and deferred
inflows of $4,680,723.
Page 8
See independent auditors’ report.
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2017
GOVERNMENT-WIDE FINANCIAL ANALYSIS – Continued
A large portion of the Village’s net position, $254,181,649, 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, $3,657,835, 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 ($2,898,533) represents
unrestricted net position.
2017 2016 2017 2016 2017 2016
Current and other assets 108,268,436 $ 102,378,736 $ 11,053,533 $ 8,703,626 $ 119,321,969 $ 111,082,362 $
Capital assets 243,756,226 242,676,648 60,521,974 60,242,479 304,278,200 302,919,127
Total assets 352,024,662 345,055,384 71,575,507 68,946,105 423,600,169 414,001,489
Deferred Outflow of Resources 19,955,904 29,143,758 1,042,375 1,441,300 20,998,279 30,585,058
Total deferred outflows 19,955,904 29,143,758 1,042,375 1,441,300 20,998,279 30,585,058
Long-term liabilities 132,895,187 139,767,623 8,548,697 8,750,174 141,443,884 148,517,797
Other liabilities 25,585,693 35,956,173 2,210,511 2,173,667 27,796,204 38,129,840
Total liabilities 158,480,880 175,723,796 10,759,208 10,923,841 169,240,088 186,647,637
Deferred Inflows of Resources 20,261,611 16,080,118 155,798 66,283 20,417,409 16,146,401
Total deferred inflows 20,261,611 16,080,118 155,798 66,283 20,417,409 16,146,401
Net Position
Net investment in capital assets 200,207,529 190,133,236 53,974,120 53,413,336 254,181,649 243,546,572
Restricted 3,657,835 2,906,999 - - 3,657,835 2,906,999
Unrestricted (10,627,289) (10,645,007) 7,728,756 5,983,945 (2,898,533) (4,661,062)
Total net position 193,238,075 $ 182,395,228 $ 61,702,876 $ 59,397,281 $ 254,940,951 $ 241,792,509 $
Activities Activities Government
Table 1
Statement of Net Position
As of December 31, 2017 and 2016
Governmental Business-Type Total Primary
Page 9
See independent auditors’ report.
Village of Glenview, Illinois
Management’s Discussion and Analysis
December 31, 2017
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.
Page 10
See independent auditors’ report.
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2017
Revenue 2017 2016 2017 2016 2017 2016
Program revenues
Charges for services 17,252,259 $ 13,276,364 $ 20,137,018 $ 19,561,343 $ 37,389,277 $ 32,837,707 $
Grants and contributions
Operating 2,428,438 1,857,331 - - 2,428,438 1,857,331
Capital 472,494 299,776 - - 472,494 299,776
General Revenue
Taxes
Property 46,558,256 44,672,858 - - 46,558,256 44,672,858
Home rule 8,401,525 7,948,198 - - 8,401,525 7,948,198
Telecommunication 1,841,387 2,000,427 - - 1,841,387 2,000,427
Utility 3,469,381 3,301,427 - - 3,469,381 3,301,427
Other 1,173,563 1,117,626 - - 1,173,563 1,117,626
Intergovernmental
Sales 17,223,884 16,189,240 - - 17,223,884 16,189,240
State income 4,075,812 4,293,596 - - 4,075,812 4,293,596
Local use 1,172,235 1,085,498 - - 1,172,235 1,085,498
Road and bridge 400,414 449,785 - - 400,414 449,785
Property replacement 248,714 214,012 - - 248,714 214,012
Other 1,559,393 1,424,994 - - 1,559,393 1,424,994
Investment income 1,291,016 1,145,352 18,249 9,637 1,309,265 1,154,989
Other general revenues 4,512,461 4,075,921 246,810 7,794 4,759,271 4,083,715
Total revenues 112,081,232 103,352,405 20,402,077 19,578,774 132,483,309 122,931,179
Expenses
General government 42,184,653 44,385,296 - - 42,184,653 44,385,296
Public works 18,850,845 12,872,643 - - 18,850,845 12,872,643
Public safety 34,322,701 34,694,711 - - 34,322,701 34,694,711
Development 4,654,804 8,956,426 - - 4,654,804 8,956,426
Interest on long-term debt 2,027,661 1,853,307 - - 2,027,661 1,853,307
Water services - - 13,118,448 16,376,087 13,118,448 16,376,087
North Maine water and sewer - - - 19,318 - 19,318
Sanitary sewerage - - 2,292,993 2,326,072 2,292,993 2,326,072
Wholesale water - - 1,393,330 1,276,248 1,393,330 1,276,248
Commuter parking - - 489,432 428,679 489,432 428,679
Total expenses 102,040,664 102,762,383 17,294,203 20,426,404 119,334,867 123,188,787
Change in net position
before transfers 10,040,568 590,022 3,107,874 (847,630) 13,148,442 (257,608)
Transfers 802,279 971,962 (802,279) (971,962) - -
Change in net position 10,842,847 1,561,984 2,305,595 (1,819,592) 13,148,442 (257,608)
Net position - beginning 182,395,228 180,833,244 59,397,281 61,216,873 241,792,509 242,050,117
Net position - ending 193,238,075 $ 182,395,228 $ 61,702,876 $ 59,397,281 $ 254,940,951 $ 241,792,509 $
Activities Activities Government
Table 2
Changes in Net Position
For the Fiscal Years Ended December 31, 2017 and 2016
Governmental Business-Type Total Primary
Page 11
See independent auditors’ report.
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2017
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 48.9% of the Village’s General Fund expenditures (including transfers) and
approximately 16.8% of enterprise operating costs at December 31, 2017.
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.
Page 12
See independent auditors’ report.
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2017
GOVERNMENT-WIDE FINANCIAL ANALYSIS – Continued
Net position of the Village’s governmental activities increased by 5.9%, or $10,842,847 ($192,238,075 in
2017 compared to $182,395,228 in 2016). This increase is due to a combination of higher than
anticipated revenues and a decrease in net pension liability. Net position of business-type activities
increased 3.9%, or $2,305,595 ($61,702,876 in 2017 compared to $59,397,281 in 2016). This increase is
partially the result of the Village implementing an increase in the required cash reserve policy, coupled
with higher than anticipated business-type activity charges for services.
Governmental Activities
Revenues:
Revenues for governmental activities totaled $112,081,232 at December 31, 2017 and $103,352,405 at
December 31, 2016, an increase of $8,728,827. Some key changes during the year for the governmental
activity revenues are described below:
Charges for services increased by $3,975,895, or 29.9%, from $13,276,364 at December 31,
2016 to $17,252,259 at December 31, 2017. This was partially due to increases in joint dispatch
charges of $2,009,326 and Glenbrook Fire Protection District of $1,103,398.
Property tax revenues increased by $1,885,398, or 4.2%, from $44,672,858 at December 31,
2016 to $46,558,256 at December 31, 2017.
Sales tax increased by $1,034,644, or 6.4%, from $16,189,240 at December 31, 2016 to
$17,223,884 at December 31, 2017.
Page 13
See independent auditors’ report.
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2017
GOVERNMENT-WIDE FINANCIAL ANALYSIS – Continued
Governmental Activities – Continued
The following table graphically depicts the major revenue sources of the Village. It depicts very clearly the
reliance of property taxes and sales taxes to fund governmental activities. It also clearly identifies the less
significant percentage the Village receives from income taxes, telecommunication taxes, and utility taxes.
Page 14
See independent auditors’ report.
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2017
GOVERNMENT-WIDE FINANCIAL ANALYSIS – Continued
Governmental Activities – Continued
For the year ended December 31, 2017, governmental activities expenses totaled $102,040,664, a
decrease of $721,719, or 0.7% from the 2016 expenses of $102,762,383.
Business-Type activities
Business-Type activities posted total revenues of $20,402,077, while the cost of all business-type
activities totaled $17,294,203. This results in a surplus of $3,107,874 prior to net transfers out of
$802,279. In 2016, expenses of $20,426,404 exceeded revenues of $19,578,774, resulting in a deficit of
$847,630 prior to net transfers out of $971,962.
Revenues
For the fiscal year ended December 31, 2017, revenues for the business-type activities totaled
$20,402,077, an increase of $823,303, or 4.2%, due primarily to an increase in water charges for services
of $348,253.
Expenses
Expenses for the year ended December 31, 2017 totaled $17,294,203 a decrease of $3,132,201, or
15.3% over the 2016 expenses of $20,426,404. During 2017, the Village incurred $3,257,639 less in
expenses than in 2016 due largely to the implementation of an Automated Metering Program in 2016; a
total of $3,394,497 was expensed for this project.
Page 15
See independent auditors’ report.
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2017
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 $57,145,660, which is
$6,323,065, or 12.4%, higher than last year’s total of $50,822,595. Of the $57,145,660 total, $19,910,965,
or approximately 34.8%, of the fund balance constitutes unassigned fund balance.
General Fund
The General Fund reported an increase in fund balance for the year of $4,268,546 or 16.7%, which is due
to a combination of higher than anticipated revenues and lower than anticipated budgeted expenditures.
The General Fund is the chief operating fund of the Village. At December 31, 2017, unassigned fund
balance in the General Fund was $26,530,097 which represents 89.2% of the total fund balance of the
General Fund. As a measure of the General Fund’s liquidity, it is useful to compare unassigned fund
balance to total fund expenditures. Unassigned fund balance in the General Fund represents
approximately 39.3% 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, 2017, the Special Tax Allocation Fund reported revenues
in excess of expenditures of $3,186,913, due in large part to property tax revenues coming in over budget
by $2,335,259 and expenses coming in under budget by $654,257.
Page 16
See independent auditors’ report.
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2017
FINANCIAL ANALYSIS OF THE GOVERNMENT’S FUNDS – Continued
Governmental Funds – Continued
Other Major Funds – Continued
The Village Permanent Fund, reported as a capital projects fund, was formed from 20% of the land sales
proceeds of The Glen. Ongoing, the resources are used for Village-wide improvements and economic
development initiatives as well as short-term liquidity for the Village’s Tax Increment Financing (TIF)
projects at The Glen. For the year ended December 31, 2017, the Village Permanent Fund reported
expenditures in excess of revenues of $274,641. The previous Village Hall site was sold in 2017, resulting
in property sales revenue of $2,461,000. Transfers out to the Capital Projects Fund and the Sanitary
Sewer Fund in the amount of $2,875,600 and $47,119, respectively.
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 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 Glenview Sanitary Sewer Fund accounts for the provision of sanitary
sewer services to property owners in both incorporated and unincorporated areas of the Village.
The Village purchases Lake Michigan water from neighboring Wilmette. The spread between purchase
and sale rates is intended to finance the operations of the utility system; including labor costs, supplies,
and infrastructure maintenance.
The surplus in the Glenview Water Fund during the current fiscal year was $1,570,282; the previous fiscal
year reported a deficit of $1,431,448. The surplus in this fund is largely the result of operating expenses
coming in $1,030,460 lower than budget and operating revenues coming in $630,077 higher than budget.
Unrestricted net position in the Glenview Water Fund totaled $3,544,057 at December 31, 2017.
Page 17
See independent auditors’ report.
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2017
FINANCIAL ANALYSIS OF THE GOVERNMENT’S FUNDS – Continued
Proprietary Funds – Continued
The surplus in the current year in the Glenview Sanitary Sewer Fund was $203,703, resulting in ending
net position of $19,679,672. In the prior year the Glenview Sanitary Sewer Fund also reported a surplus
of $243,067. The current year surplus was due in large part due to capital expenses coming in lower than
budget.
GENERAL FUND BUDGETARY HIGHLIGHTS
During 2017, the Village Board approved three budget amendments. The first amendment was to
approve a $262,500 transfer from the Permanent Fund to the Capital Projects Fund for the feasibility cost
sharing agreement with the U.S. Army Corps of Engineers. The second amendment was to increase
reimbursable expenses related to 911 dispatch consolidation capital costs of the Villages of Glencoe,
Kenilworth, Northfield and Winnetka by $193,465. The third amendment was to modify the 2017 budget
for The Circles Improvement Project with a future offsetting reduction in the 2018 capital projects budget
in the amount of $2,282,111 so that all planned project improvements can be completed in one
construction season instead of two.
General Fund actual revenues (including other financing sources) for the year totaled $71,836,783
compared to budgeted revenues of $69,168,902, a difference of $2,667,881. This is due to sales tax
revenue being over budget by $555,441. Charges for services also were higher than budget by $663,675,
the majority of which is from cable fees, insurance reimbursements and dispatch services. Additionally,
the Glenbrook Fire Protection District was $1,166,260 higher than budget due to a one-time payment for
prior services.
Page 18
See independent auditors’ report.
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2017
FINANCIAL ANALYSIS OF THE GOVERNMENT’S FUNDS – Continued
GENERAL FUND BUDGETARY HIGHLIGHTS - Continued
The General Fund actual expenditures (including transfers) for the year of $67,568,237 were $2,172,641
lower than budgeted expenditures of $69,740,878. Contractual services were under budget by $853,506,
or 6.2%. This is due to lower than budgeted expenses for building maintenance, snow plowing, software
licensing, outside litigation, and economic development agreements for property, sales and utility tax
sharing. Commodities were under budget by $109,475, or 5.7%, mainly due to savings in salt and natural
gas. Other charges were under budget by $390,198, or 5.4% due to lower than budgeted expenses for
training and various expenses budgeted but not incurred. Interfund charges were under budget by
$238,890, or 4.8% as the cost of fuel and routine maintenance charges for Village fleet were lower than
anticipated. Additionally, personnel costs were $667,885 under budget due to staff vacancies within
several departments.
Original Final
Budget Budget Actual
Revenues
Taxes 26,643,379 $ 26,643,379 $ 26,778,568 $
Intergovernmental 26,912,962 26,912,926 28,562,583
Other 14,573,846 14,573,882 15,454,947
Total revenues 68,130,187 68,130,187 70,796,098
Expenditures (62,359,530) (62,552,996) (60,268,421)
Transfers in 1,038,715 1,038,715 1,040,685
Transfers out (7,187,882) (7,187,882) (7,299,816)
Total expenditures and
net transfers (68,508,697) (68,702,163) (66,527,552)
Net change in fund balance (378,510) $ (571,976) $ 4,268,546 $
Table 3
General Fund Budgetary Highlights
Page 19
See independent auditors’ report.
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2017
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, 2017 was $304,278,200 (net of accumulated depreciation). This investment in capital
assets includes land, buildings and improvements, machinery, equipment, and vehicles, water and
sanitary sewer system improvements, and other infrastructure improvements.
This year’s major additions included:
Additional information on the Village’s capital assets can be found in Note III on pages 62-63 of this
report.
2017 2016 2017 2016 2017 2016
Construction in progress -$ 52,641 $ -$ 122,796 $ -$ 175,437 $
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 70,802,677 70,949,194 1,837,884 1,748,084 72,640,561 72,697,278
Machinery, equipment and
vehicles 8,527,304 7,683,522 858,151 1,061,894 9,385,455 8,745,416
Infrastructure 88,067,598 87,632,644 - - 88,067,598 87,632,644
Water system - - 39,081,783 38,321,140 39,081,783 38,321,140
Sanitary sewer system - - 18,176,305 18,420,714 18,176,305 18,420,714
Total 243,756,226 $ 242,676,648 $ 60,521,974 $ 60,242,479 $ 304,278,200 $ 302,919,127 $
Activities Activities Government
Table 4
Capital Assets at Year End
Net of Depreciation
Governmental Business-Type Total Primary
Additions
Construction in progress 267,793 $
Land -
Building and improvements 2,759,143
Infrastructure, including roadways, etc. 4,716,360
Machinery, equipment and vehicles 2,433,514
Sanitary sewer system 242,943
Water system 1,964,363
Total 12,384,116 $
Page 20
See independent auditors’ report.
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2017
CAPITAL ASSETS AND DEBT ADMINISTRATION - Continued
Debt Administration
At year-end, the Village had total outstanding debt of $55,472,522 as compared to $64,833,001 the
previous year, a decrease of $9,360,479, or 14.4%, due to principal retirements that reduced the
outstanding liability on the bonds. The following is a comparative statement of outstanding debt:
The Village maintains an Aaa rating from Moody’s for general obligation debt. This rating has not
changed in the past fifteen 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 III on pages
66-70 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 2018
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 growth in some areas
while also gaining stability in areas such as permit fee revenue. Specifically, recent trending has shown
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. In adopting the State of Illinois 2018-2019 budget in July 2017, state legislators
approved revenue diversions from local governmental units including the Village. The financial position of
the State of Illinois is a major concern as state elected officials continue to explore ideas that shift costs to
local governments and develop legislative proposals to decrease state shared revenues to local
governments. Additionally, the Village increased the tax levy by a total of $250,000, which was to be
dedicated to the Capital Improvement Program (CIP) to partially address the funding gap between
dedicated funding sources and infrastructure needs. 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 2018 are also
continually being analyzed through three to five year models to ensure the Village’s long term
sustainability.
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.
2017 2016 2017 2016 2017 2016
General obligation bonds 45,983,788 $ 53,732,671 $ -$ -$ 45,983,788 $ 53,732,671 $
Corporate purpose notes - - 6,547,854 6,829,143 6,547,854 6,829,143
Loans payable 2,940,880 4,271,187 - - 2,940,880 4,271,187
Total debt 48,924,668 $ 58,003,858 $ 6,547,854 $ 6,829,143 $ 55,472,522 $ 64,833,001 $
Governmental Business-Type Total Primary
Activities Activities Government
VILLAGE OF GLENVIEW
STATEMENT OF NET POSITION
As of December 31, 2017
Governmental
Activities
Business-type
Activities Totals
Glenview
Library
ASSETS
Cash and cash equivalents $21,630,767 $5,395,330 $27,026,097 $3,838,031
Investments 57,991,363 1,992,161 59,983,524 1,976,982
Receivables (net)
Taxes 20,332,053 -20,332,053 7,875,038
Accounts 578,161 3,577,716 4,155,877 -
Other 1,057,626 9,569 1,067,195 7,957
Prepaid items 112,823 -112,823 725
Inventories 491,023 78,757 569,780 -
Due from other governmental units 98,754 -98,754 -
Due from pension trusts 3,590 -3,590 -
Notes receivable 2,223,667 -2,223,667 -
Lease receivable 910,000 -910,000 -
Deposits 613,609 -613,609 -
Property held for resale 2,225,000 -2,225,000 -
Capital Assets
Land 21,076,696 567,851 21,644,547 5,426,987
Land right of way 55,281,951 -55,281,951 -
Other capital assets, net of depreciation 167,397,579 59,954,123 227,351,702 24,988,620
Total Assets 352,024,662 71,575,507 423,600,169 44,114,340
DEFERRED OUTFLOWS OF RESOURCES
Deferred charge on refunding 1,383,804 -1,383,804 941,818
Deferred outflows related to pensions 18,572,100 1,042,375 19,614,475 1,738,862
Total Deferred Outflows of Resources 19,955,904 1,042,375 20,998,279 2,680,680
LIABILITIES
Accounts payable 22,489,659 2,041,320 24,530,979 372,798
Accrued payroll 1,196,818 129,476 1,326,294 173,451
Accrued interest payable 123,794 10,913 134,707 74,667
Other payables 1,354,887 18,302 1,373,189 -
Refundable deposits -10,500 10,500 -
Unearned revenues 420,535 -420,535 -
Noncurrent Liabilities
Due within one year 10,424,478 496,047 10,920,525 1,281,901
Due in more than one year 122,470,709 8,052,650 130,523,359 20,882,035
Total Liabilities 158,480,880 10,759,208 169,240,088 22,784,852
DEFERRED INFLOWS OF RESOURCES
Property taxes levied for future periods 11,653,534 -11,653,534 7,883,287
Deferred inflows related to pensions 8,608,077 155,798 8,763,875 129,346
Total Deferred Inflows of Resources 20,261,611 155,798 20,417,409 8,012,633
NET POSITION
Net investment in capital assets 200,207,529 53,974,120 254,181,649 12,494,113
Restricted for
Street improvements 1,741,503 -1,741,503 -
Public safety 286,219 -286,219 -
Economic development 1,630,113 -1,630,113 -
Culture and recreation ---1,180,217
Unrestricted (10,627,289)7,728,756 (2,898,533)2,323,205
TOTAL NET POSITION $193,238,075 $61,702,876 $254,940,951 $15,997,535
See accompanying notes to financial statements.
Page 21
VILLAGE OF GLENVIEW
STATEMENT OF ACTIVITIES
For the Year Ended December 31, 2017
Program Revenues
Functions/Programs Expenses
Charges for
Services
Operating
Grants and
Contributions
Capital
Grants and
Contributions
Primary Government
Governmental Activities
General government $42,184,653 $4,610,434 $-$-
Public safety 34,322,701 11,164,334 117,564 -
Public works 18,850,845 1,018,286 1,995,052 -
Development 4,654,804 459,205 315,822 472,494
Interest and fiscal charges 2,027,661 ---
Total Governmental Activities 102,040,664 17,252,259 2,428,438 472,494
Business-type Activities
Glenview W ater Fund 13,118,448 14,624,348 --
Glenview Sanitary Sewer Fund 2,292,993 2,496,477 --
Wholesale W ater Fund 1,393,330 2,361,124 --
Commuter Parking Lot Fund 489,432 655,069 --
Total Business-type Activities 17,294,203 20,137,018 --
Total Primary Government $119,334,867 $37,389,277 $2,428,438 $472,494
Component Unit
Glenview Library $8,760,088 $238,888 $1,165,427 $-
General Revenues
Taxes
Property
Home rule sales
Telecommunication
Utility
Other
Intergovernmental
Sales
Income
Local use
Other taxes
Investment income
Gain on sale of assets
Miscellaneous
Total General Revenues
Transfers
Change in net position
NET POSITION - Beginning of Year
NET POSITION - END OF YEAR
See accompanying notes to financial statements.
Page 22
Net (Expenses) Revenues and Changes in Net Position
Primary Government Component Unit
Governmental
Activities
Business-type
Activities Totals Glenview Library
$(37,574,219)$-$(37,574,219)$-
(23,040,803)-(23,040,803)-
(15,837,507)-(15,837,507)-
(3,407,283)-(3,407,283)-
(2,027,661)-(2,027,661)-
(81,887,473)-(81,887,473)-
-1,505,900 1,505,900 -
-203,484 203,484 -
-967,794 967,794 -
-165,637 165,637 -
-2,842,815 2,842,815 -
(81,887,473)2,842,815 (79,044,658)-
---(7,355,773)
46,558,256 -46,558,256 8,271,493
8,401,525 -8,401,525 -
1,841,387 -1,841,387 -
3,469,381 -3,469,381 -
1,173,563 -1,173,563 -
17,223,884 -17,223,884 -
4,075,812 -4,075,812 -
1,172,235 -1,172,235 -
2,208,521 -2,208,521 -
1,291,016 18,249 1,309,265 66,363
2,558,900 -2,558,900 -
1,953,561 246,810 2,200,371 -
91,928,041 265,059 92,193,100 8,337,856
802,279 (802,279)--
10,842,847 2,305,595 13,148,442 982,083
182,395,228 59,397,281 241,792,509 15,015,452
$193,238,075 $61,702,876 $254,940,951 $15,997,535
See accompanying notes to financial statements.
Page 23
VILLAGE OF GLENVIEW
BALANCE SHEET
GOVERNMENTAL FUNDS
As of December 31, 2017
General Fund
Special Tax
Allocation
Fund
Village
Permanent
Fund
Nonmajor
Governmental
Funds Totals
ASSETS
Cash and cash equivalents $ 11,507,585 $ 2,066,638 $ 599,194 $ 5,128,918 $ 19,302,335
Investments 12,626,129 23,976,061 8,188,099 2,069,969 46,860,258
Receivables (net)
Taxes 20,332,053 - - - 20,332,053
Accounts 143,956 88,491 - 250,000 482,447
Grants - - - 166,867 166,867
Accrued interest - 120,642 - 3,875 124,517
Other 586,157 - 47,837 7,358 641,352
Prepaid items 4,810 8,414 - - 13,224
Inventories 123,985 - - - 123,985
Due from other funds 19,235 - 1,501,131 - 1,520,366
Due from other governments - - - 98,754 98,754
Due from pension trusts 3,590 - - - 3,590
Notes receivable - 2,223,667 - - 2,223,667
Lease receivable - - 910,000 - 910,000
Property held for resale - - 2,225,000 - 2,225,000
Advances to other funds --15,416,507 -15,416,507
TOTAL ASSETS $ 45,347,500 $ 28,483,913 $ 28,887,768 $ 7,725,741 $110,444,922
See accompanying notes to financial statements.
Page 24
General Fund
Special Tax
Allocation
Fund
Village
Permanent
Fund
Nonmajor
Governmental
Funds Totals
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES
Liabilities
Accounts payable $ 1,508,850 $ 18,784,440 $ 1,640 $ 1,489,370 $ 21,784,300
Accrued payroll 1,158,867 11,039 -288 1,170,194
Other payables 949,522 1,307 - 403,334 1,354,163
Due to other funds --- 1,504,101 1,504,101
Unearned revenues 317,835 - 82,076 - 399,911
Advances from other funds -15,416,507 --15,416,507
Total Liabilities 3,935,074 34,213,293 83,716 3,397,093 41,629,176
Deferred Inflows of Resources
Property taxes levied for future
periods 11,653,534 - - - 11,653,534
Unavailable grant revenue ---16,552 16,552
Total Deferred Inflows of
Resources 11,653,534 --16,552 11,670,086
Fund Balances (Deficit)
Nonspendable for prepaid items 4,810 8,414 -- 13,224
Nonspendable for inventory 123,985 --- 123,985
Restricted for street improvements --- 1,741,503 1,741,503
Restricted for public safety --- 286,219 286,219
Restricted for economic
development --- 1,630,113 1,630,113
Assigned to capital project funds 3,100,000 - 28,804,052 1,135,238 33,039,290
Assigned to debt service funds --- 400,361 400,361
Unassigned 26,530,097 (5,737,794)-(881,338)19,910,965
Total Fund Balances (Deficit)29,758,892 (5,729,380)28,804,052 4,312,096 57,145,660
TOTAL LIABILITIES,
DEFERRED INFLOWS
OF RESOURCES, AND
FUND BALANCES $ 45,347,500 $ 28,483,913 $ 28,887,768 $ 7,725,741 $110,444,922
See accompanying notes to financial statements.
Page 25
VILLAGE OF GLENVIEW
RECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL FUNDS
TO THE STATEMENT OF NET POSITION
As of December 31, 2017
Total Fund Balances - Governmental Funds $57,145,660
Amounts reported for governmental activities in the statement of net position are
different because:
Capital assets used in governmental funds are not financial resources and,
therefore, are not reported in the funds. See Note III C.243,756,226
Deferred charge on refunding of debt is not considered to represent a financial
resource and, therefore, is not reported in the funds.1,383,804
Some receivables that are not currently available are reported as unavailable
revenues in the fund financial statements but are recognized as revenue when
earned in the government-wide statements.16,552
Deferred outflows of resources related to pensions do not relate to current financial
resources and are not reported in the governmental funds.18,572,100
Deferred inflows of resources related to pensions do not relate to current financial
resources and are not reported in the governmental funds.(8,608,077)
Internal service funds are reported in the statement of net position as governmental
activities.12,309,751
Some liabilities, including long-term debt, are not due and payable in the current
period and therefore, are not reported in the funds.
General obligation bonds payable, net of unamortized items (45,983,788)
Loan payable (2,940,878)
Net other post employment benefit obligation payable (3,321,612)
Compensated absences (1,522,779)
Accrued interest (123,794)
Capital lease (247,199)
Net pension liability (77,197,891)
NET POSITION OF GOVERNMENTAL ACTIVITIES $193,238,075
See accompanying notes to financial statements.
Page 26
VILLAGE OF GLENVIEW
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES -
GOVERNMENTAL FUNDS
For the Year Ended December 31, 2017
General Fund
Special Tax
Allocation
Fund
Village
Permanent
Fund
Nonmajor
Governmental
Funds Totals
REVENUES
Property taxes $11,892,712 $33,410,224 $-$1,255,320 $46,558,256
Other taxes 14,885,856 ---14,885,856
Licenses and permits 2,451,693 ---2,451,693
Fines, forfeitures and penalties 211,592 ---211,592
Charges for services 12,459,200 204,945 --12,664,145
Intergovernmental 28,562,583 315,822 -2,479,284 31,357,689
Investment income 332,462 336,297 265,136 62,564 996,459
Miscellaneous --4,800 256,596 261,396
Total Revenues 70,796,098 34,267,288 269,936 4,053,764 109,387,086
EXPENDITURES
Current
General government 17,820,637 22,859,744 --40,680,381
Public safety 29,458,875 --119,561 29,578,436
Public works 8,755,999 ---8,755,999
Development 3,507,512 -82,858 114,139 3,704,509
Capital Outlay 725,398 --12,459,075 13,184,473
Debt Service
Principal -6,850,938 -2,149,371 9,000,309
Interest and fiscal charges -1,060,895 -766,215 1,827,110
Total Expenditures 60,268,421 30,771,577 82,858 15,608,361 106,731,217
Excess (deficiency) of revenues over
expenditures 10,527,677 3,495,711 187,078 (11,554,597)2,655,869
OTHER FINANCING SOURCES (USES)
Property sales --2,461,000 -2,461,000
Transfers in 1,040,685 --10,699,814 11,740,499
Transfers out (7,299,816)(308,798)(2,922,719)(2,970)(10,534,303)
Total Other Financing Sources
(Uses)(6,259,131)(308,798)(461,719)10,696,844 3,667,196
Net Change in Fund Balances 4,268,546 3,186,913 (274,641)(857,753)6,323,065
FUND BALANCES (DEFICIT) - Beginning
of Year 25,490,346 (8,916,293)29,078,693 5,169,849 50,822,595
FUND BALANCES (DEFICIT) -
END OF YEAR $29,758,892 $(5,729,380)$28,804,052 $4,312,096 $57,145,660
See accompanying notes to financial statements.
Page 27
VILLAGE OF GLENVIEW
RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS
TO THE STATEMENT OF ACTIVITIES
For the Year Ended December 31, 2017
Net change in fund balances - total governmental funds $6,323,065
Amounts reported for governmental activities in the statement of activities are different
because:
Governmental funds report capital outlays as expenditures. However, in the statement of
net position the cost of these assets is capitalized and they are depreciated over their
estimated useful lives and reported as depreciation expense in the statement of activities.
Capital outlay is reported as an expenditure in the fund financial statements but is
capitalized in the government-wide financial statements 9,681,209
Depreciation is reported in the government-wide financial statements (7,532,332)
Net book value of assets retired (1,069,299)
Receivables not currently available are reported as revenue when collected or currently
available in the fund financial statements but are recognized as revenue when earned in
the government-wide financial statements.(159,311)
Debt issued provides current financial resources to governmental funds, but issuing debt
increases long-term liabilities in the statement of net position. Repayment of debt principal
is an expenditure in the governmental funds, but the repayment reduces long-term
liabilities in the statement of net position.
Principal repaid 9,000,309
Governmental funds report debt premiums and discounts as other financing sources (uses)
or expenditures. However, in the statement of net position, these are reported as
additions to or deductions from long-term debt. These are allocated over the period the
debt is outstanding in the statement of activities and are reported as interest expense.
Amortization of premium/discount 78,883
Some expenses in the statement of activities do not require the use of current financial
resources and, therefore, are not reported as expenditures in the governmental funds.
Compensated absences (24,477)
Capital lease 243,593
Accrued interest on debt 16,813
Amortization of deferred charge on refunding (296,247)
Net pension liability 8,018,322
Deferred outflows of resources related to pensions (8,891,607)
Deferred inflows of resources related to pensions (3,993,637)
Net other postemployment benefit obligation payable (382,756)
Internal service funds are used by management to charge the cost of vehicles and
equipment management and self insurance costs to individual funds. The change in net
position of the internal service fund reported with governmental activities.(169,681)
CHANGE IN NET POSITION OF GOVERNMENTAL ACTIVITIES $10,842,847
See accompanying notes to financial statements.
Page 28
VILLAGE OF GLENVIEW
STATEMENT OF NET POSITION
PROPRIETARY FUNDS
As of December 31, 2017
Business-type Activities - Enterprise Funds
Glenview
Water Fund
Glenview
Sanitary
Sewer Fund
Nonmajor
Enterprise
Funds Totals
Governmental
Activities -
Internal
Service
Funds
ASSETS
Current Assets
Cash and cash equivalents $2,969,362 $1,550,991 $874,977 $5,395,330 $2,328,432
Investments 494,000 -1,498,161 1,992,161 11,131,105
Receivables
Accounts, net 2,393,060 675,074 509,582 3,577,716 95,714
Accrued interest 3,708 -5,861 9,569 64,890
Other ----60,000
Prepaid items ----99,599
Inventories 78,757 --78,757 367,038
Deposits ----613,609
Total Current Assets 5,938,887 2,226,065 2,888,581 11,053,533 14,760,387
Noncurrent Assets
Capital Assets
Capital assets not being
depreciated 67,851 -500,000 567,851 -
Capital assets being
depreciated 62,404,395 25,383,103 5,253,732 93,041,230 -
Less: Accumulated depreciation (23,355,613)(7,206,801)(2,524,693)(33,087,107)-
Total Noncurrent Assets 39,116,633 18,176,302 3,229,039 60,521,974 -
Total Assets 45,055,520 20,402,367 6,117,620 71,575,507 14,760,387
DEFERRED OUTFLOWS OF
RESOURCES
Deferred outflows due to pensions 851,226 191,149 -1,042,375 -
Total Deferred Outflows of
Resources 851,226 191,149 -1,042,375 -
See accompanying notes to financial statements.
Page 29
VILLAGE OF GLENVIEW
STATEMENT OF NET POSITION
PROPRIETARY FUNDS
As of December 31, 2017
Business-type Activities - Enterprise Funds
Glenview
Water Fund
Glenview
Sanitary
Sewer Fund
Nonmajor
Enterprise
Funds Totals
Governmental
Activities -
Internal
Service
Funds
LIABILITIES
Current Liabilities
Accounts payable 1,354,012 501,029 186,279 2,041,320 705,359
Accrued payroll 102,169 20,371 6,936 129,476 26,624
Accrued interest 10,913 --10,913 -
Accrued expenses 7,538 201 10,563 18,302 724
Refundable deposits 10,500 --10,500 -
Due to other funds ----16,265
Claims payable ----672,416
Unearned revenues ----20,624
Current portion of long-term
liabilities 490,579 4,773 695 496,047 -
Total Current Liabilities 1,975,711 526,374 204,473 2,706,558 1,442,012
Noncurrent Liabilities
Long-Term Debt
Claims payable ----1,008,624
Long-term liabilities due in more
than one year 7,688,838 361,033 2,779 8,052,650 -
Total Noncurrent Liabilities 7,688,838 361,033 2,779 8,052,650 1,008,624
Total Liabilities 9,664,549 887,407 207,252 10,759,208 2,450,636
DEFERRED INFLOWS OF RESOURCES
Deferred inflows related to pensions 129,361 26,437 -155,798 -
Total Deferred Inflows of
Resources 129,361 26,437 -155,798 -
NET POSITION
Net investment in capital assets 32,568,779 18,176,302 3,229,039 53,974,120 -
Unrestricted 3,544,057 1,503,370 2,681,329 7,728,756 12,309,751
TOTAL NET POSITION $36,112,836 $19,679,672 $5,910,368 $61,702,876 $12,309,751
See accompanying notes to financial statements.
Page 30
VILLAGE OF GLENVIEW
STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION
PROPRIETARY FUNDS
For the Year Ended December 31, 2017
Business-type Activities - Enterprise Funds
Glenview
Water Fund
Glenview
Sanitary
Sewer Fund
Nonmajor
Enterprise
Funds Totals
Governmental
Activities -
Internal
Service
Funds
OPERATING REVENUES
Charges for services $14,352,412 $2,423,285 $3,007,348 $19,783,045 $11,778,203
Miscellaneous 271,936 73,192 247,354 592,482 196,609
Total Operating Revenues 14,624,348 2,496,477 3,254,702 20,375,527 11,974,812
OPERATING EXPENSES
Insurance services ----7,224,526
Parking services --407,525 407,525 -
Water services 11,666,351 -1,330,514 12,996,865 -
Sewerage services -1,778,335 -1,778,335 -
Capital asset repair and replacement ----2,481,309
Depreciation and amortization 1,348,105 487,354 144,723 1,980,182 -
Total Operating Expenses 13,014,456 2,265,689 1,882,762 17,162,907 9,705,835
Operating Income 1,609,892 230,788 1,371,940 3,212,620 2,268,977
NONOPERATING REVENUES
(EXPENSES)
Other income -8,301 -8,301 -
Investment income 8,124 1,057 9,068 18,249 294,557
Proceeds from the sale of capital
assets ----97,900
Reassignment of capital assets ----(2,427,198)
Interest and fiscal charges (103,992)(27,304)-(131,296)-
Total Nonoperating Revenues
(Expenses)(95,868)(17,946)9,068 (104,746)(2,034,741)
Income Before Transfers 1,514,024 212,842 1,381,008 3,107,874 234,236
TRANSFERS
Transfers in 56,258 47,119 -103,377 -
Transfers out -(56,258)(849,398)(905,656)(403,917)
Total Transfers 56,258 (9,139)(849,398)(802,279)(403,917)
Change in Net Position 1,570,282 203,703 531,610 2,305,595 (169,681)
NET POSITION - Beginning of Year 34,542,554 19,475,969 5,378,758 59,397,281 12,479,432
NET POSITION - END OF
YEAR $36,112,836 $19,679,672 $5,910,368 $61,702,876 $12,309,751
See accompanying notes to financial statements.
Page 31
VILLAGE OF GLENVIEW
STATEMENT OF CASH FLOW S
PROPRIETARY FUNDS
For the Year Ended December 31, 2017
Business-type Activities - Enterprise Funds
Glenview
Water Fund
Glenview
Sanitary
Sewer Fund
Nonmajor
Enterprise
Funds Totals
Governmental
Activities -
Internal
Service
Funds
CASH FLOWS FROM OPERATING
ACTIVITIES
Received from customers and users $14,686,832 $2,427,835 $3,263,084 $20,377,751 $11,776,120
Paid to suppliers for goods and
services (8,676,633)(1,134,467)(1,710,160)(11,521,260)(8,202,133)
Paid to employees for services (2,215,052)(501,302)(83,805)(2,800,159)(988,551)
Received from other sources 31,519 81,493 -113,012 -
Net Cash Flows From Operating
Activities 3,826,666 873,559 1,469,119 6,169,344 2,585,436
CASH FLOWS FROM INVESTING
ACTIVITIES
Investment income 7,131 1,057 3,207 11,395 281,004
Sale of investments 744,500 --744,500 5,637,991
Purchase of investments (494,000)-(1,498,162)(1,992,162)(10,131,355)
Net Cash Flows From Investing
Activities 257,631 1,057 (1,494,955)(1,236,267)(4,212,360)
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES
Transfers in 56,258 47,119 -103,377 -
Transfers out -(56,258)(849,398)(905,656)(403,917)
Net Cash Flows From Noncapital
Financing Activities 56,258 (9,139)(849,398)(802,279)(403,917)
CASH FLOWS FROM CAPITAL AND
RELATED FINANCING ACTIVITIES
Proceeds from the sale of capital
assets ----97,900
Debt retired (281,289)--(281,289)-
Interest paid (109,214)(27,304)-(136,518)-
Acquisition and construction of capital
assets (2,096,109)(368,807)(52,372)(2,517,288)(2,093,618)
Net Cash Flows From Capital and
Related Financing Activities (2,486,612)(396,111)(52,372)(2,935,095)(1,995,718)
Net Change in Cash and Cash
Equivalents 1,653,943 469,366 (927,606)1,195,703 (4,026,559)
CASH AND CASH EQUIVALENTS -
Beginning of Year 1,315,419 1,081,625 1,802,583 4,199,627 6,354,991
CASH AND CASH EQUIVALENTS -
END OF YEAR $2,969,362 $1,550,991 $874,977 $5,395,330 $2,328,432
See accompanying notes to financial statements.
Page 32
Business-type Activities - Enterprise Funds
Glenview
Water Fund
Glenview
Sanitary
Sewer Fund
Nonmajor
Enterprise
Funds Totals
Governmental
Activities -
Internal
Service
Funds
RECONCILIATION OF OPERATING
INCOME TO NET CASH FLOWS FROM
OPERATING ACTIVITIES
Operating income $1,609,892 $230,788 $1,371,940 $3,212,620 $2,268,977
Adjustments to Reconcile Operating
Income to Net Cash Flows From
Operating Activities
Depreciation 1,348,105 487,354 144,723 1,980,182 -
Other income -8,301 -8,301 -
Changes in assets and liabilities
Accounts receivable 96,278 4,550 8,382 109,210 (16,092)
Inventory (8,899)--(8,899)6,808
Deposits ----(184,481)
Prepaid items ----670,880
Accounts payable 561,918 77,625 (61,069)578,474 86,074
Customer deposits (2,275)--(2,275)-
Claims payable ----(264,695)
Accrued salaries 16,378 874 1,669 18,921 1,870
Compensated absences payable 38,058 23,863 3,474 65,395 -
Due to other funds ----14,214
Unearned revenue ----1,881
Deferred outflows due to pensions 327,945 70,980 -398,925 -
Deferred inflows due to pensions 72,991 16,524 -89,515 -
Net pension liability (233,725)(47,300)-(281,025)-
NET CASH FLOWS FROM
OPERATING ACTIVITIES $3,826,666 $873,559 $1,469,119 $6,169,344 $2,585,436
NONCASH CAPITAL AND RELATED
FINANCING ACTIVITIES
None
See accompanying notes to financial statements.
Page 33
VILLAGE OF GLENVIEW
STATEMENT OF FIDUCIARY NET POSITION
FIDUCIARY FUNDS
As of December 31, 2017
Pension Trust
Funds Agency Fund
ASSETS
Cash and cash equivalents $2,890,658 $2,031,722
Investments
U.S. treasuries 12,218,201 -
U.S. agencies 27,983,734 249,849
Mutual funds 101,499,643 -
Corporate obligations 14,289,725 -
Municipal obligations 4,975,064 -
Certificates of deposit -493,359
Receivables
Property taxes -293,222
Accrued interest receivable 381,590 2,254
Prepaid items 11,027 -
Total Assets 164,249,642 3,070,406
LIABILITIES
Accounts payable -1,603,448
Refundable deposits -999,985
Accrued expenses 68,063 -
SSA Bond fund - Due to bond holders -466,973
Total Liabilities 68,063 3,070,406
NET POSITION
Restricted for pension benefits $164,181,579 $-
See accompanying notes to financial statements.
Page 34
VILLAGE OF GLENVIEW
STATEMENT OF CHANGES IN FIDUCIARY NET POSITION
PENSION TRUST FUNDS
For the Year Ended December 31, 2017
Pension Trust
Funds
AD DITIONS
Contributions
Employer $6,331,880
Participant 1,514,290
Total Contributions 7,846,170
Investment income
Net appreciation in fair value of investments 12,444,034
Interest income 6,674,693
Total Investment Income 19,118,727
Less investment expense 350,888
Net Investment Income 18,767,839
Total Additions 26,614,009
DEDUCTIONS
Retirement pensions 8,576,878
Widow pensions 842,597
Disability pensions 630,151
Children's pensions 50,222
Total Deductions 10,099,848
Change in Net Position 16,514,161
NET POSITION - Beginning of Year 147,667,418
NET POSITION - END OF YEAR $164,181,579
See accompanying notes to financial statements.
Page 35
VILLAGE OF GLENVIEW
INDEX TO NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE Page
I Summary of Significant Accounting Policies 37
A.Reporting Entity 37
B.Government-W ide and Fund Financial Statements 39
C.Measurement Focus, Basis of Accounting, and Financial Statement
Presentation 43
D.Assets, Deferred Outflows of Resources, Liabilities, Deferred Inflows of
Resources, and Net Position or Equity 44
1.Deposits and Investments 44
2.Receivables 48
3.Inventories and Prepaid Items 49
4.Capital Assets 49
5.Deferred Outflows of Resources 50
6.Compensated Absences 51
7.Long-Term Obligations 51
8.Deferred Inflows of Resources 51
9. Equity Classifications 52
II Stewardship, Compliance, and Accountability 54
A.Excess Expenditures Over Appropriations 54
B.Deficit Balances 54
III Detailed Notes on All Funds 55
A.Deposits and Investments 55
B.Receivables 61
C.Capital Assets 62
D.Interfund Receivables/Payables, Advances and Transfers 64
E.Long-Term Obligations 66
F.Lease Disclosures 70
G.Component Unit 71
IV Other Information 77
A.Employees' Retirement System 77
B.Risk Management 93
C.Commitments and Contingencies 95
D.Joint Ventures 96
E.Other Postemployment Benefits 97
F.Tax Abatement 99
G.Effect of New Accounting Standards on Current-Period Financial Statements 99
See accompanying notes to financial statements.
Page 36
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The Village of Glenview, Illinois (the Village) was incorporated in 1899. The Village is a home-rule
municipality, under the 1970 Illinois Constitution, located in Cook County, Illinois. The Village operates
under a Council-Manager form of government and provides the following services as authorized by its
charter: public safety (police and fire protection), water utility, sanitary sewer utility, stormwater
management, street maintenance, community development, and general administrative services.
The accounting policies of the Village of Glenview, Illinois conform to accounting principles generally
accepted in the United States of America as applicable to governmental units. The accepted standard-
setting body for establishing governmental accounting and financial reporting principles is the
Governmental Accounting Standards Board (GASB).
A.REPORTING ENTITY
This report includes all of the funds of the Village. The reporting entity for the Village consists of the
primary government and its component unit. Component units are legally separate organizations for which
the primary government is financially accountable or other organizations for which the nature and
significance of their relationship with the primary government are such that their exclusion would cause
the reporting entity's financial statements to be misleading. The primary government is financially
accountable if (1) it appoints a voting majority of the organization's governing body and it is able to impose
its will on that organization, (2) it appoints a voting majority of the organization's governing body and there
is a potential for the organization to provide specific financial benefits to, or impose specific financial
burdens on, the primary government, (3) the organization is fiscally dependent on and there is a potential
for the organization to provide specific financial benefits to, or impose specific financial burdens on, the
primary government. Certain legally separate, tax exempt organizations should also be reported as a
component unit if all of the following criteria are met: (1) the economic resources received or held by the
separate organization are entirely or almost entirely for the direct benefit of the primary government, its
component units, or its constituents; (2) the primary government or its component units, is entitled to, or
has the ability to access, a majority of the economic resources received or held by the separate
organization; and (3) the economic resources received or held by an individual organization that the
primary government, or its component units, is entitled to, or has the ability to otherwise access, are
significant to the primary government.
Component units are reported using one of two methods, discrete presentation or blending. Generally,
component units should be discretely presented in a separate column in the financial statements. A
component unit should be reported as part of the primary government using the blending method if it
meets any one of the following criteria: (1) the primary government and the component unit have
substantively the same governing body and a financial benefit or burden relationship exists, (2) the
primary government and the component unit have substantively the same governing body and
managem ent of the primary government has operational responsibility for the component unit, (3) the
component unit serves or benefits, exclusively or almost exclusively, the primary government rather than
its citizens, or (4) the total debt of the component unit will be paid entirely or almost entirely from resources
of the primary government.
Page 37
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.)
A.REPORTING ENTITY (cont.)
Discretely Presented Component Unit
Glenview Library
The government-wide financial statements include the Glenview Library (Library) as a component unit.
The Library is a legally separate organization. The board of the Library is elected by the the residents of
the Village of Glenview. The Village exercises substantive approval over the Library's budget and tax levy.
Additionally, the Library may not issue bonded debt without the approval of the Village and the Village is
liable/obligated for the bond issue debt of the Library. Based on this relationship, the Library's is
considered a discretely presented component unit. The information presented is for the fiscal year ended
December 31, 2017. The Library does not issue separate financial statements.
Pension Trust Funds
The Police Pension Employees Retirement System (PPERS) is established for the Village's police
employees. PPERS functions for the benefit of these employees and is governed by a five-member
pension board. Two members appointed by the Village’s President, one pension beneficiary elected by the
membership, and two police employees elected by the membership constitute the pension board. The
Village and the PPERS participants are obligated to fund all PPERS costs based upon actuarial
valuations. The State of Illinois is authorized to establish benefit levels and the Village is authorized to
approve the actuarial assumptions used in the determination of contribution levels. Although it possesses
many characteristics of a legally separate government, PPERS is reported as if it were part of the primary
government because its sole purpose is to finance and administer the pensions of the Village’s police
employees and because of the fiduciary nature of such activities. PPERS is reported as a pension trust
fund and the data for the pension is included in the government's fiduciary fund financial statements. No
separate annual financial report is issued for the PPERS.
The Firefighters’ Pension Employees Retirement System (FPERS) is established for the Village's
firefighters. FPERS functions for the benefit of these employees and is governed by a five-member
pension board. Two members appointed by the Village’s President, one pension beneficiary elected by the
membership; and two fire employees elected by the membership constitute the pension board. The Village
and the FPERS participants are obligated to fund all FPERS costs based upon actuarial valuations. The
State of Illinois is authorized to establish benefit levels and the Village is authorized to approve the
actuarial assumptions used in the determination of contribution levels. Although it possesses many of the
characteristics of a legally separate government, FPERS is reported as if it were part of the primary
government because its sole purpose is to finance and administer the pensions of the Village’s firefighters
because of the fiduciary nature of such activities. FPERS is reported as a pension trust fund and the data
for the pension is included in the government's fiduciary fund financial statements. No separate annual
financial report is issued for the FPERS.
Page 38
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.)
B.GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS
Government-Wide Financial Statements
The statement of net position and statement of activities display information about the reporting
government as a whole. They include all funds of the reporting entity except for fiduciary funds.The
statements distinguish between governmental and business-type activities. Governmental activities
generally are financed through taxes, intergovernmental revenues, and other nonexchange revenues.
Business-type activities are financed in whole or in part by fees charged to external parties for goods or
services. Likewise, the primary government is reported separately from certain legally separate
component units for which the primary government is financially accountable.
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. The Village does not allocate indirect expenses to functions in the statement
of activities. 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 or capital requirements of a particular
function or segment. Taxes and other items not included among program revenues are reported as
general revenues. Internally dedicated resources are reported as general revenues rather than as
program revenues.
Fund Financial Statements
Financial statements of the Village are organized into funds, each of which is considered to be a separate
accounting entity. Each fund is accounted for by providing a separate set of self-balancing accounts,
which constitute its assets, deferred outflows of resources, liabilities, deferred inflows of resources, net
position/fund balance, revenues, and expenditures/expenses.
Page 39
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.)
B.GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS (cont.)
Fund Financial Statements (cont.)
Funds are organized as major funds or nonmajor funds within the governmental and proprietary
statements. An emphasis is placed on major funds within the governmental and proprietary categories. A
fund is considered major if it is the primary operating fund of the Village or meets the following criteria:
a. Total assets/deferred outflows of resources, liabilities/deferred inflows of resources, revenues,
or expenditures/expenses of that individual governmental or enterprise fund are at least 10% of
the corresponding total for all funds of that category or type, and
b. The same element of the individual governmental or enterprise fund that met the 10% test is at
least 5% of the corresponding total for all governmental and enterprise funds combined.
c. In addition, any other governmental or enterprise fund that the Village believes is particularly
important to financial statement users may be reported as a major fund.
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 funds and major individual enterprise funds are reported as separate columns in the fund
financial statements.
The Village reports the following major governmental funds:
General Fund - accounts for the Village's primary operating activities. It is used to account for
and report all financial resources except those accounted for and reported in another fund.
Special Tax Allocation 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-W hole" 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.
Village Permanent 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 revenues.
Page 40
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.)
B.GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS (cont.)
Fund Financial Statements (cont.)
The Village reports the following major enterprise funds:
Glenview W ater Fund (formerly called the W aterworks 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.
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.
The Village reports the following nonmajor governmental and enterprise funds:
Special Revenue Funds - used to account for and report the proceeds of specific revenue
sources that are restricted or committed to expenditures for specified purposes (other than debt
service or capital projects).
Motor Fuel Tax Fund
Foreign Fire Insurance Fund
Police Department Special Account Fund
Waukegan Golf TIF Fund
Debt Service Fund - used to account for and report financial resources that are restricted,
committed, or assigned to expenditure for the payment of general long-term debt principal,
interest, and related costs.
Corporate Purpose Bonds Fund
Capital Projects Funds - used to account for and report financial resources that are restricted,
committed, or assigned to expenditure for capital outlays, including the acquisition or
construction of capital facilities and other capital assets.
Capital Projects Fund
Glen Capital Projects Fund
Page 41
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.)
B.GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS (cont.)
Fund Financial Statements (cont.)
The Village reports the following nonmajor governmental and enterprise funds: (cont.)
Enterprise Funds - used to account for and report any activity for which a fee is charged to
external uses for goods or services, and must be used for activities which meet certain debt or
cost recovery criteria.
Wholesale W ater Fund
Commuter Parking Lot Fund
In addition, the Village reports the following fund types:
Internal Service Funds - used to account for and report the financing of goods or services
provided by one department or agency to other departments or agencies of the Village, or to
other governmental units, on a cost-reimbursement basis.
Capital Equipm ent Replacement Fund
Municipal Equipm ent Repair Fund
Insurance and Risk Fund
Facilities Repair and Replacement Fund
Pension Trust Funds - used to account for and report resources that are required to be held in
trust for the members and beneficiaries of defined benefit pension plans.
Police Pension Fund
Firefighters' Pension Fund
Agency Funds - used to account for and report assets held by the Village in a trustee capacity or
as an agent for individuals, private organizations, and/or other governmental units.
Special Service Area (SSA) Bond Fund
Escrow Deposit Fund
Joint ETSB Fund
Page 42
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.)
C.MEASUREMENT FOCUS, BASIS OF ACCOUNTING, AND FINANCIAL STATEMENT PRESENTATION
Government-Wide Financial Statements
The government-wide statement of net position and statement of activities are reported using the
economic resources measurement focus and the accrual basis of accounting. Under the accrual basis of
accounting, revenues are recognized when earned and expenses are recorded when the liability is
incurred or economic asset used. Revenues, expenses, gains, losses, assets, and liabilities resulting from
exchange and exchange-like transactions are recognized when the exchange takes place. Property taxes
are recognized as revenues in the year for which they are levied. Taxes receivable for the following year
are recorded as receivables and deferred inflows. Grants and similar items are recognized as revenue as
soon as all eligibility requirements imposed by the provider are met. Special assessments are recorded as
revenue when earned. Unbilled receivables are recorded as revenues when services are provided.
As a general rule, the effect of interfund activity has been eliminated from the government-wide financial
statements.
Fund Financial Statements
Governmental fund financial statements are reported using the current financial resources measurement
focus and the modified accrual basis of accounting. Revenues are recorded when they are both
measurable and available. Available means collectible within the current period or soon enough thereafter
to be used to pay liabilities of the current period. For this purpose, the Village considers revenues to be
available if they are collected within 90 days of the end of the current fiscal period with the exception of
property tax revenues, which are considered available if they are collected within 60 days. Expenditures
are recorded when the related fund liability is incurred, except for unmatured interest on long-term debt,
claims, judgments, compensated absences, and pension expenditures, which are recorded as a fund
liability when expected to be paid with expendable available financial resources.
Property taxes are recorded in the year levied as receivables and deferred inflows. They are recognized
as revenues in the succeeding year when services financed by the levy are being provided.
Intergovernmental aids and grants are recognized as revenues in the period the Village is entitled the
resources and the amounts are available. Amounts owed to the Village which are not available are
recorded as receivables and unavailable revenues. Amounts received before eligibility requirements
(excluding time requirements) are met are recorded as liabilities. Amounts received in advance of meeting
time requirements are recorded as deferred inflows.
Revenues susceptible to accrual include property taxes, miscellaneous taxes, public charges for services,
special assessments and interest. Other general revenues such as fines and forfeitures, inspection fees,
recreation fees, and miscellaneous revenues are recognized when received in cash or when measurable
and available under the criteria described above.
Proprietary and fiduciary fund financial statements (other than agency funds) are reported using the
economic resources measurement focus and the accrual basis of accounting, as described previously in
this note. Agency funds follow the accrual basis of accounting, and do not have a measurement focus.
Page 43
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.)
C.MEASUREMENT FOCUS, BASIS OF ACCOUNTING, AND FINANCIAL STATEMENT PRESENTATION (cont.)
Fund Financial Statements (cont.)
The 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
proprietary funds are charges to customers for sales and services. Special assessments are recorded as
receivables and contribution revenue when levied. Operating expenses for proprietary funds 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.
All Financial Statements
The preparation of financial statements in conformity with generally accepted accounting principles
requires management to make estimates and assumptions that affect the reported amounts of assets,
deferred outflows of resources, liabilities, and deferred inflows of resources and disclosure of contingent
assets and liabilities at the date of the financial statements and the reported amounts of revenues and
expenditures/expenses during the reporting period. Actual results could differ from those estimates.
D.ASSETS, DEFERRED OUTFLOWS OF RESOURCES, LIABILITIES, DEFERRED INFLOWS OF RESOURCES,
AND NET POSITION OR EQUITY
1.Deposits and Investments
For purposes of the statement of cash flows, the Village considers all highly liquid investments with an
initial maturity of three months or less when acquired to be cash equivalents.
The Village, Police Pension Fund, and Firefighters' Pension Fund have adopted investment policies. The
policies follow the state statute for allowable 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:
a)Interest-bearing accounts of banks and savings and loan associations insured by the Federal Deposit
Insurance Corporation.
b)Obligations of the U.S. Treasury and U.S. agencies. - Insured accounts of an Illinois credit union
chartered under United States or Illinois law.
c)Money market mutual funds with portfolios of securities issued or guaranteed by the United States or
agreements to repurchase these same types of obligations.
d)Repurchase agreements which meet instrument transaction requirements of Illinois law.
e)Short-term obligations of U.S. corporations rated in the three highest classifications by at least two
standard rating agencies.
f)The Illinois Funds.
g)Illinois Metropolitan Investment Fund.
Page 44
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.)
D.ASSETS, DEFERRED OUTFLOWS OF RESOURCES, LIABILITIES, DEFERRED INFLOWS OF RESOURCES,
AND NET POSITION OR EQUITY (cont.)
1.Deposits and Investments (cont.)
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:
a)Bonds issued by any county, city, township, village, incorporated town, municipal corporation,
or school district in Illinois.
b)Direct obligations of the State of Israel.
c)Separate accounts of Illinois-licensed insurance companies.
d)Common and preferred stock.
The Police Pension Fund’s investment policy establishes the following target allocation across asset
classes:
Asset Class Target Allocation
Long-Term
Expected Real
Rate of Return
Cash 0.00%0.50%
Investment Grade Bonds 42.00%2.50%
High Yield Bonds 2.20%6.40%
U.S. Equity 39.50%9.10%
International Equity 10.10%6.60%
Emerging Markets Equity 0.70%10.30%
Alternatives 5.50%5.30%
Illinois Compiled Statues (ILCS) limit the Police Pension Fund's investments in equities, mutual funds and
variable annuities to 65%. Securities in any one company should not exceed 5% of the total fund.
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 expected long-term expected arithmetic real rates of return by asset class are listed in the
table above.
Page 45
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.)
D.ASSETS, DEFERRED OUTFLOWS OF RESOURCES, LIABILITIES, DEFERRED INFLOWS OF RESOURCES,
AND NET POSITION OR EQUITY (cont.)
1.Deposits and Investments (cont.)
The Firefighters' Pension Fund’s investment policy, in accordance with Illinois Statutes, establishes the
following target allocation across asset classes:
Asset Class
Target
Allocation
Long-Term
Expected
Rate of Return
Long-Term
Inflation
Expectation
Long-Term
Expected Real
Rate of Return
Large Cap Domestic Equity 42.00%9.40%2.68%6.72%
Small Cap Domestic Equity 12.00%11.40%2.68%8.72%
International Equity 6.00%9.30%2.68%6.62%
Fixed Income 40.00%4.40%2.68%1.72%
Illinois Compiled Statues (ILCS) limit the Firefighters' Pension Fund's investments in equities, mutual
funds and variable annuities to 65%.
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 expected long-term expected arithmetic real rates of return by asset class are listed in the
table above.
Interest Rate Risk
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.
In accordance with their investment policies, the Police Pension Fund and Firefighters' Pension Fund limit
their exposure to interest rate risk by structuring the portfolios to provide liquidity for short-term and long-
term cash flow needs while providing a reasonable rate of return based on the current market.
Page 46
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.)
D.ASSETS, DEFERRED OUTFLOWS OF RESOURCES, LIABILITIES, DEFERRED INFLOWS OF RESOURCES,
AND NET POSITION OR EQUITY (cont.)
1.Deposits and Investments (cont.)
Credit Risk
The Village limits its exposure to credit risk, by investing mainly in external investment pools.
The Police Pension Fund's and Firefighters' Pension Fund's general investment policies follow the prudent
person rule subject to the specific restrictions of the Illinois Pension Code and the Police Pension Fund's
and Firefighters' Pension Fund's 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.
Concentration of Credit Risk
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 Police Pension Fund's and Firefighters' Pension Fund's investment policies require diversification of
investment to avoid unreasonable risk.
Custodial Credit Risk - Deposits
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.
Custodial Credit Risk - Investments
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 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.
Page 47
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.)
D.ASSETS, DEFERRED OUTFLOWS OF RESOURCES, LIABILITIES, DEFERRED INFLOWS OF RESOURCES,
AND NET POSITION OR EQUITY (cont.)
1.Deposits and Investments (cont.)
Investments are stated at fair value, which is the amount at which an investment could be exchanged in a
current transaction between willing parties. Fair values are based on methods and inputs as outlined in
Note III. A. 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.
Illinois Funds is an investment pool managed by the State of Illinois, Office of the Treasurer, which allows
governments within the State to pool their funds for investment purposes. Illinois Funds is not registered
with the SEC as an investment company, but does operate in a manner consistent with Rule 2a7 of the
Investment Company Act of 1940. Investments in Illinois Funds are valued at Illinois Fund’s share price,
the price for which the investments could be sold.
See Note III. A. for further information.
2.Receivables
Property taxes for levy year 2017 attaches as an enforceable lien on January 1, 2017, on property values
assessed as of the same date. Taxes are levied by December following the lien date (by passage of a Tax
Levy Ordinance). The 2017 tax levy, which attached as an enforceable lien on the property as of January
1, 2017, has been recorded as a receivable as of December 31, 2017, as the tax was levied by the Village
on December 5, 2017, and therefore, the levy is measurable at December 31, 2017.
Tax bills for levy year 2017 are prepared by Cook County and issued on or about February 1, 2018 and
September 1, 2018, and are payable in two installments, on or about March 1, 2018 and October 1, 2018
or within 30 days of the tax bills being issued.
The county collects such taxes and remits them periodically. The 2017 property tax levy is recognized as a
receivable and deferred inflows in fiscal 2017, net the allowance for uncollectible. As the taxes become
available to finance current expenditures, they are recognized as revenues. At December 31, 2017, the
property taxes receivable and related deferred inflows consisted of the estimated amount collectible from
the 2017 levy.
During the course of operations, transactions occur between individual funds that may result in amounts
owed between funds. Short-term interfund loans are reported as "due to and from other funds." Long-term
interfund loans (noncurrent portion) are reported as "advances from and to other funds." Interfund
receivables and payables between funds within governmental activities are eliminated in the statement of
net position. Any residual balances outstanding between the governmental activities and business-type
activities are reported in the governmental-wide financial statements as internal balances.
Page 48
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.)
D.ASSETS, DEFERRED OUTFLOWS OF RESOURCES, LIABILITIES, DEFERRED INFLOWS OF RESOURCES,
AND NET POSITION OR EQUITY (cont.)
2.Receivables (cont.)
In the governmental fund financial statements, advances to other funds are offset equally by a
nonspendable fund balance account which indicates that they do not constitute expendable available
financial resources and, therefore, are not available for appropriation or by a restricted fund balance
account, if the funds will ultimately be restricted when the advance is repaid.
3.Inventories and Prepaid Items
Governmental fund inventories, if material, are recorded at cost based on the FIFO method using the
consumption method of accounting. Proprietary fund inventories are generally used for construction and/or
for operation and maintenance work. They are not for resale. They are valued at cost based on average
cost, and charged to construction and/or operation and maintenance expense 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.
4.Capital Assets
Government-Wide Statements
Capital assets, which include property, buildings, vehicles, equipment, and infrastructure assets (e.g.
roads, bridges, and similar items). Capital assets are defined by the government as assets with an initial
cost of more than $25,000, and an estimated useful life in excess of 1 year. Additionally, the Library
reports its collection of books and materials as a capital asset. All capital assets are valued at historical
cost, or estimated historical cost if actual amounts are unavailable. Donated capital assets are recorded at
their estimated fair value at the date of donation unless received in a service concession arrangement in
which case they are recorded at their acquisition value.
Additions to and replacements of capital assets of business-type activities are recorded at original cost,
which includes material, labor, overhead, and an allowance for the cost of funds used during construction
when significant. For tax-exempt debt, the amount of interest capitalized equals the interest expense
incurred during construction netted against any interest revenue from temporary investment of borrowed
fund proceeds. No interest was capitalized during the current year. The cost of renewals and betterments
relating to retirement units is added to plant accounts. The cost of property replaced, retired or otherwise
disposed of, is deducted from plant accounts and, generally, together with removal costs less salvage, is
charged to accumulated depreciation.
Page 49
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.)
D.ASSETS, DEFERRED OUTFLOWS OF RESOURCES, LIABILITIES, DEFERRED INFLOWS OF RESOURCES,
AND NET POSITION OR EQUITY (cont.)
4.Capital Assets (cont.)
Government-Wide Statements (cont.)
Depreciation and amortization of all exhaustible capital assets is recorded as an allocated expense in the
statement of activities, with accumulated depreciation and amortization reflected in the statement of net
position. Depreciation and amortization is provided over the assets' estimated useful lives using the
straight-line method. The range of estimated useful lives by type of asset is as follows:
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.
Fund Financial Statements
In the fund financial statements, capital assets used in governmental fund operations are accounted for as
capital outlay expenditures of the governmental fund upon acquisition. Capital assets used in proprietary
fund operations are accounted for the same way as in the government-wide statements.
5. Deferred Outflows of Resources
A deferred outflow of resources represents a consumption of net position/fund balance that applies to a
future period and will not be recognized as an outflow of resources (expense/expenditure) until that future
time.
A deferred charge on refunding arises from the advance refunding of debt. The difference between the
cost of the securities placed in trust for future payments of the refunded debt and the net carrying value of
that debt is deferred and amortized as a component of interest expense over the shorter of the term of the
refunding issue or the original term of the refunded debt. The unamortized amount is reported as a
deferred outflow of resources in the government-wide and proprietary fund financial statements.
Page 50
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.)
D.ASSETS, DEFERRED OUTFLOWS OF RESOURCES, LIABILITIES, DEFERRED INFLOWS OF RESOURCES,
AND NET POSITION OR EQUITY (cont.)
6.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 W orks Union 120 hours
Dispatch Union 84 hours
Police Union 84 hours
Firefighter Union N/A
7.Long-Term Obligations
All long-term obligations to be repaid from governmental and business-type resources are reported as
liabilities in the government-wide statements. The long-term obligations consist primarily of bonds
payable, notes payable, loans payable, accrued compensated absences, claims payable, net pension
liabilities, and OPEB obligations.
Long-term obligations for governmental funds are not reported as liabilities in the fund financial
statements. The face value of debts (plus any premiums) are reported as other financing sources and
payments of principal and interest are reported as expenditures. The accounting in proprietary funds is the
same as it is in the government-wide statements.
For the government-wide statements and proprietary fund statements, bond premiums and discounts are
amortized over the life of the issue using the effective interest method. The balance at year end is shown
as an increase or decrease in the liability section of the statement of net position.
8.Deferred Inflows of Resources
A deferred inflow of resources represents an acquisition of net position/fund balance that applies to a
future period and therefore will not be recognized as an inflow of resources (revenue) until that future time.
Page 51
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.)
D.ASSETS, DEFERRED OUTFLOWS OF RESOURCES, LIABILITIES, DEFERRED INFLOWS OF RESOURCES,
AND NET POSITION OR EQUITY (cont.)
9. Equity Classifications
Government-Wide Statements
Equity is classified as net position and displayed in three components:
a. Net investment in capital assets - Consists of capital assets including restricted capital assets,
net of accumulated depreciation and reduced by the outstanding balances (excluding unspent
debt proceeds) of any bonds, mortgages, notes, or other borrowings that are attributable to the
acquisition, construction, or improvement of those assets.
b. Restricted net position - Consists of net position with constraints placed on their use either by 1)
external groups such as creditors, grantors, contributors, or laws or regulations of other
governments or, 2) law through constitutional provisions or enabling legislation.
c. Unrestricted net position - All other net positions that do not meet the definitions of "restricted" or
"net investment in capital assets."
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 in the following
section.
Fund Statements
Governmental fund balances are displayed as follows:
a. Nonspendable - Includes fund balance amounts that cannot be spent either because they are
not in spendable form or because legal or contractual requirements require them to be
maintained intact.
b. Restricted - Consists of fund balances with constraints placed on their use either by 1) external
groups such as creditors, grantors, contributors, or laws or regulations of other governments or
2) law through constitutional provisions or enabling legislation.
c. Committed - Includes fund balance amounts that are constrained for specific purposes that are
internally imposed by the government through formal action of the highest level of decision
making authority (the Board of Trustees). Fund balance amounts are committed through a
formal action (resolution) of the Village Board. This formal action must occur prior to the end of
the reporting period, but the amount of the commitment, which will be subject to the constraints,
may be determined in the subsequent period. Any changes to the constraints imposed require
the same formal action of the Village Board that originally created the commitment.
Page 52
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.)
D.ASSETS, DEFERRED OUTFLOWS OF RESOURCES, LIABILITIES, DEFERRED INFLOWS OF RESOURCES,
AND NET POSITION OR EQUITY (cont.)
9. Equity Classifications (cont.)
Fund Statements (cont.)
d. Assigned - Includes spendable fund balance amounts that are intended to be used for specific
purposes that do not meet the criteria to be classified as restricted or committed. The Village
Board has, by resolution, adopted a financial policy authorizing the Village Manager to assign
amounts for a specific purpose. 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. Assignments may take place after the end of the reporting period.
e. Unassigned - Includes residual positive fund balance within the General Fund which has not
been classified within the other above mentioned categories. Unassigned fund balance may also
include negative balances for any governmental fund if expenditures exceed amounts restricted,
committed, or assigned for those purposes.
Proprietary fund equity is classified the same as in the government-wide statements.
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. W hen 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.
Page 53
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE II - STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY
A.EXCESS EXPENDITURES/EXPENSES/DEDUCTIONS OVER BUDGET
Funds
Budgeted
Expenditures/
Expenses/
Deductions
Actual
Expenditures/
Expenses/
Deductions Excess
Foreign Fire Insurance $110,000 $119,561 $9,561
Capital Equipment
Replacement (CERF)1,697,478 2,438,657 741,179
Police Pension 4,098,725 4,178,349 79,624
Firefighters' Pension 5,780,396 5,921,499 141,103
Library Debt Service 2,022,048 2,023,047 999
Library Special Reserve 98,303 226,766 128,463
B.DEFICIT BALANCES
Generally accepted accounting principles require disclosure of individual funds that have deficit balances
at year end.
As of December 31, 2017, the following individual funds held a deficit balance:
Fund Amount Reason
Special Tax Allocation $(5,729,380)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.
Capital Projects (881,338)Current year net decrease in fund
balance exceeded available fund
balance from the prior year. The
deficit balance was anticipated and
will be funded with revenues and
transfers in the next fiscal year.
Page 54
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE III - DETAILED NOTES ON ALL FUNDS
A.DEPOSITS AND INVESTMENTS
The Village's, Police Pension Fund's, Firefighters' Pension Fund's and Agency Fund's deposits and
investments at year end were comprised of the following:
Carrying
Value
Statement
Balances Associated Risks
Deposits $66,617,719 $67,793,588 Custodial credit risk
Certificates of deposits - negotiable 4,464,531 4,464,531 Custodial credit risk,
credit risk, concentration
of credit risk, interest rate
risk
The Illinois Funds 3,833,058 3,833,058 Credit risk
U.S. treasuries 21,266,876 21,266,876 Custodial credit risk,
interest rate risk
U.S. agencies 36,694,960 36,694,960 Custodial credit risk,
credit risk, concentration
of credit risk, interest rate
risk
Municipal obligations 4,975,064 4,975,064 Custodial credit risk,
credit risk, concentration
of credit risk, interest rate
risk
Corporate obligations 14,289,725 14,289,725 Custodial credit risk,
credit risk, concentration
of credit risk, interest rate
risk
Mutual funds 101,499,643 101,499,643 N/A
Total Deposits and Investments $253,641,576 $254,817,445
Page 55
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE III - DETAILED NOTES ON ALL FUNDS (cont.)
A.DEPOSITS AND INVESTMENTS (cont.)
Reconciliation to financial statements
Per statement of net position
Cash and cash equivalents $27,026,097
Investments 59,983,524
Per statement of net position - fiduciary
funds
Cash and cash equivalents - Pension
Trusts
2,890,658
Cash and cash equivalents - Agency
Fund
2,031,722
U.S. treasuries 12,218,201
U.S. agencies - Pension Trusts 27,983,734
U.S. agencies - Agency Fund 249,849
Mutual funds 101,499,643
Corporate obligations 14,289,725
Municipal obligations 4,975,064
Certificates of deposit 493,359
Total Deposits and Investments $253,641,576
Deposits in each local and area bank are insured by the FDIC in the amount of $250,000 for time and
savings accounts (including NOW accounts) and $250,000 for demand deposit accounts (interest-bearing
and noninterest-bearing). In addition, if deposits are held in an institution outside of the state in which the
government is located, insured amounts are further limited to a total of $250,000 for the combined amount
of all deposit accounts.
The Village categorizes its fair value measurements within the fair value hierarchy established by generally
accepted accounting principles. The hierarchy is based on the valuation inputs used to measure the fair
value of the asset. Level 1 inputs are quoted prices in active markets for identical assets; Level 2 inputs
are significant other observable inputs; Level 3 inputs are significant unobservable inputs.
Page 56
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE III - DETAILED NOTES ON ALL FUNDS (cont.)
A.DEPOSITS AND INVESTMENTS (cont.)
The Village used the market valuation method for recurring fair value measurements.
As of December 31, 2017, investments were measured using valuation inputs as follows:
Village
December 31, 2017
Investment Type Level 1 Level 2 Level 3 Total
Certificates of deposits - negotiable $-$4,217,772 $-$4,217,772
U.S. treasuries 9,048,675 --9,048,675
U.S. agencies -8,461,377 -8,461,377
Total $9,048,675 $12,679,149 $-$21,727,824
Police Pension Fund
December 31, 2017
Investment Type Level 1 Level 2 Level 3 Total
U.S. treasuries $7,613,717 $-$-$7,613,717
U.S. agencies -7,738,637 -7,738,637
Municipal obligations -378,143 -378,143
Corporate obligations -14,289,725 -14,289,725
Mutual funds 47,195,918 --47,195,918
Total $54,809,635 $22,406,505 $-$77,216,140
Firefighters' Pension Fund
December 31, 2017
Investment Type Level 1 Level 2 Level 3 Total
U.S. treasuries $4,604,484 $-$-$4,604,484
U.S. agencies -20,245,097 -20,245,097
Municipal obligations -4,596,921 -4,596,921
Mutual funds 54,303,725 --54,303,725
Total $58,908,209 $24,842,018 $-$83,750,227
Page 57
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE III - DETAILED NOTES ON ALL FUNDS (cont.)
A.DEPOSITS AND INVESTMENTS (cont.)
Agency Fund
December 31, 2017
Investment Type Level 1 Level 2 Level 3 Total
Certificates of deposits - negotiable $-$246,759 $-$246,759
U.S. agencies -249,849 -249,849
Total $-$496,608 $-$496,608
Custodial Credit Risk
Deposits
Custodial credit risk is the risk that in the event of a financial institution failure, the Village's deposits may
not be returned to the Village.
The Village does not have any deposits exposed to custodial credit risk.
Credit Risk
Credit risk is the risk that an issuer or other counterparty to an investment will not fulfill its obligations.
As of December 31, 2017, the Village's, Police Pension Fund, Firefighters' Pension Fund and Agency
Fund investments were rated as follows:
Standard & Poor's
Investment Type Fair Value AAA AA A BBB Not Rated
Certificates of deposits
- negotiable $4,464,531 $-$-$-$-$4,464,531
The Illinois Funds 3,833,058 3,833,058 ----
U.S. agencies 36,694,960 -31,689,490 --5,005,470
Municipal obligations 4,975,064 275,017 2,893,533 272,810 -1,533,704
Corporate obligations 14,289,725 140,125 1,616,122 7,370,919 5,162,559 -
Totals $64,257,338 $4,248,200 $36,199,145 $7,643,729 $5,162,559 $11,003,705
Page 58
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE III - DETAILED NOTES ON ALL FUNDS (cont.)
A.DEPOSITS AND INVESTMENTS (cont.)
Credit Risk (cont.)
Moody's Investors Services
Investment Type Fair Value Aaa Aa A Baa Not Rated
Certificates of deposits
- negotiable $4,464,531 $-$-$-$-$4,464,531
The Illinois Funds 3,833,058 ----3,833,058
U.S. agencies 36,694,960 31,189,018 ---5,505,942
Municipal obligations 4,975,064 25,688 2,363,012 123,231 272,810 2,190,323
Corporate obligations 14,289,725 399,543 1,293,361 6,375,523 6,168,634 52,664
Totals $64,257,338 $31,614,249 $3,656,373 $6,498,754 $6,441,444 $16,046,518
Concentration of Credit Risk
Concentration of credit risk is the risk of loss attributed to the magnitude of a government's investment in a
single issuer.
The Firefighters' Pension Fund had the following investments that exceeded 5% of its investment and plan
net position:
Federal Home Loan Bank $6,035,695
Federal Farm Credit Bank 10,379,207
Interest Rate Risk
Interest rate risk is the risk that changes in interest rates will adversely affect the value of an investment.
As of December 31, 2017, investments were as follows:
Village
Maturity (In Years)
Investment Type Fair Value Less than 1 1-5
Certificates of deposits - negotiable $4,217,772 $2,481,710 $1,736,062
U.S. treasuries 9,048,675 9,048,675 -
U.S. agencies 8,461,377 1,003,198 7,458,179
Totals $21,727,824 $12,533,583 $9,194,241
Page 59
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE III - DETAILED NOTES ON ALL FUNDS (cont.)
A.DEPOSITS AND INVESTMENTS (cont.)
Interest Rate Risk (cont.)
Police Pension Fund
Maturity (In Years)
Investment Type Fair Value Less than 1 1-5 6-10
Greater than
10
U.S. treasuries $7,613,717 $3,240,669 $3,278,682 $1,094,366 $-
U.S. agencies 7,738,637 159,923 4,884,377 1,655,699 1,038,638
Municipal obligations 378,143 150,074 228,069 --
Corporate obligations 14,289,725 630,767 9,610,853 3,956,541 91,564
Totals $30,020,222 $4,181,433 $18,001,981 $6,706,606 $1,130,202
Firefighters' Pension Fund
Maturity (In Years)
Investment Type Fair Value Less than 1 1-5 6-10
U.S. treasuries $4,604,484 $849,758 $3,451,351 $303,375
U.S. agencies 20,245,097 653,725 6,016,258 13,575,114
Municipal obligations 4,596,921 -2,782,238 1,814,683
Totals $29,446,502 $1,503,483 $12,249,847 $15,693,172
Agency Fund
Maturity (In Years)
Investment Type Fair Value Less than 1 1-5
Certificates of deposits - negotiable $246,759 $-$246,759
U.S. agencies 249,849 249,849 -
Totals $496,608 $249,849 $246,759
Page 60
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE III - DETAILED NOTES ON ALL FUNDS (cont.)
A.DEPOSITS AND INVESTMENTS (cont.)
Money-Weighted Rate of Return
Police Pension Fund
For the year ended December 31, 2017, the annual money-weighted rate of return on the Police Pension
plan investments, net of pension plan investment expense, was 11.99%. The money-weighted rate of
return expresses investment performance, net of investment expense, adjusted for the changing amounts
actually invested.
Firefighters' Pension Fund
For the year ended December 31, 2017, the annual money-weighted rate of return on the Firefighters'
Pension plan investments, net of pension plan investment expense, was 13.82%. The money-weighted
rate of return expresses investment performance, net of investment expense, adjusted for the changing
amounts actually invested.
See Note I.D.1. for further information on deposit and investment policies.
B.RECEIVABLES
The following receivables are included in Receivables - Taxes on the Governmental Funds Balance
Sheet:
General Fund
Taxes Receivable
Property $11,642,860
Sales 6,878,934
Utility 798,626
Income 355,183
Use 369,906
Franchise 206,699
Hotel 61,955
Amusement 17,890
Total $20,332,053
All of the receivables on the balance sheet are expected to be collected within one year with the exception
of notes and lease receivable which will be collected in future years as well.
Page 61
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE III - DETAILED NOTES ON ALL FUNDS (cont.)
C.CAPITAL ASSETS
Capital asset activity for the year ended December 31, 2017, was as follows:
Beginning
Balance Additions Deletions
Ending
Balance
Governmental Activities
Capital assets not being depreciated
Construction in progress $52,641 $267,793 $320,434 $-
Land 21,076,696 --21,076,696
Land right of way 55,281,951 --55,281,951
Total Capital Assets Not
Being Depreciated 76,411,288 267,793 320,434 76,358,647
Capital assets being depreciated
Buildings and improvements 95,536,435 2,583,976 2,091,479 96,028,932
Machinery and equipment 18,169,674 2,433,514 324,724 20,278,464
Infrastructure 158,427,557 4,716,360 998,381 162,145,536
Total Capital Assets Being
Depreciated 272,133,666 9,733,850 3,414,584 278,452,932
Total Capital Assets 348,544,954 10,001,643 3,735,018 354,811,579
Less: Accumulated depreciation for
Buildings and improvements (24,587,241)(2,176,875)1,537,861 (25,226,255)
Machinery and equipment (10,486,152)(1,589,732)324,724 (11,751,160)
Infrastructure (70,794,913)(3,765,725)482,700 (74,077,938)
Total Accumulated
Depreciation (105,868,306)(7,532,332)2,345,285 (111,055,353)
Net Capital Assets Being
Depreciated 166,265,360 2,201,518 1,069,299 167,397,579
Total Governmental
Activities Capital
Assets, Net $242,676,648 $2,469,311 $1,389,733 $243,756,226
Depreciation expense was charged to functions as follows:
Governmental Activities
General government $4,273,433
Public safety 1,627,265
Public works 1,198,363
Development 433,271
Total Governmental Activities Depreciation Expense $7,532,332
Page 62
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE III - DETAILED NOTES ON ALL FUNDS (cont.)
C. CAPITAL ASSETS (cont.)
Beginning
Balance Additions Deletions
Ending
Balance
Business-type Activities
Capital assets not being
depreciated
Construction in progress $ 122,796 $- $ 122,796 $-
Land 567,851 --567,851
Total Capital Assets Not
Being Depreciated 690,647 -122,796 567,851
Capital assets being depreciated
Buildings and improvements 2,796,294 175,167 - 2,971,461
Water system 58,147,725 1,964,363 106,688 60,005,400
Sanitary sewer system 24,854,684 242,943 - 25,097,627
Equipment and vehicles 4,985,950 -19,208 4,966,742
Total Capital Assets Being
depreciated 90,784,653 2,382,473 125,896 93,041,230
Total Capital Assets 91,475,300 2,382,473 248,692 93,609,081
Less: Accumulated depreciation for
Buildings and improvements (1,048,210)(85,367)-(1,133,577)
Water system (19,826,585)(1,203,720)106,688 (20,923,617)
Sanitary sewer system (6,433,970)(487,352)-(6,921,322)
Equipment and vehicles (3,924,056)(203,743)19,208 (4,108,591)
Total Accumulated
Depreciation (31,232,821)(1,980,182)125,896 (33,087,107)
Net Capital Assets Being
depreciated 59,551,832 402,291 -59,954,123
Total Business-type
Capital Assets, Net $ 60,242,479 $ 402,291 $ 122,796 $ 60,521,974
Business-type Activities
Depreciation expense was charged to functions as follows:
Business-type Activities
Glenview Water Fund $ 1,348,105
Glenview Sanitary Sewer Fund 487,354
Wholesale Water Fund 62,816
Commuter Parking Fund 81,907
Total Business-type Activities Depreciation Expense $ 1,980,182
Page 63
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE III - DETAILED NOTES ON ALL FUNDS (cont.)
D.INTERFUND RECEIVABLES/PAYABLES, ADVANCES AND TRANSFERS
Interfund Receivables/Payables
The following is a schedule of interfund receivables and payables including any overdrafts on pooled cash
and investment accounts:
Receivable Fund Payable Fund Amount
General Internal Service $16,265
General Nonmajor Governmental 2,970
Village Permanent Nonmajor Governmental 1,501,131
Total - Fund Financial Statements 1,520,366
Less: Fund eliminations (1,520,366)
Total Internal Balances - Government-W ide Statement of
Net Position $-
All amounts are due within one year.
The following is a schedule of interfund advances:
Receivable Fund Payable Fund Amount
Amount Not
Due W ithin One
Year
Village Permanent Special Tax Allocation $15,416,507 $15,416,507
Total - Fund Financial Statements 15,416,507
Less: Fund eliminations (15,416,507)
Total - Interfund Advances - Government-W ide Statement
of Net Position $-
Page 64
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE III - DETAILED NOTES ON ALL FUNDS (cont.)
D.INTERFUND RECEIVABLES/PAYABLES, ADVANCES AND TRANSFERS (cont.)
Transfers
The following is a schedule of interfund transfers:
Fund Transferred To Fund Transferred From Amount Principal Purpose
General Nonmajor Governmental $2,970
Transfer of property tax revenue
to the correct fund
General Nonmajor Enterprise 325,000
Transfer to recover overhead
costs associated with running
the W holesale W ater Fund
General Special Tax Allocation 308,798
Transfer is for the maintenance of
the three main stem roads in the
Glen Town Center
General Internal Service 403,917
Transfer to fund a portion of the
cost of operations in the General
Fund
Nonmajor Governmental General 7,299,816
Transfer to move property tax
revenue to the correct fund to
pay debt as well as transfers to
support the Capital
Improvements Program
Nonmajor Governmental Village Permanent 2,875,600
Transfer to fund two major
programs budgeted during the
year: Lyons Detention Project
and Feasibility Cost Share
Agreement
Nonmajor Governmental Nonmajor Enterprise 524,398
Transfer of return on investment
that is used to improve public
roadways
Glenview W ater Sanitary Sewer 56,258
Transfer to fund a portion of the
AMI debt payment
Sanitary Sewer Village Permanent 47,119
Transfer of funds for payment of
engineering services
Total - Fund Financial Statements 11,843,876
Less: Government-wide eliminations (11,041,597)
Total Transfers - Government-W ide Statement
of Activities $802,279
Page 65
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE III - DETAILED NOTES ON ALL FUNDS (cont.)
D.INTERFUND RECEIVABLES/PAYABLES, ADVANCES AND TRANSFERS (cont.)
Transfers (cont.)
Generally, transfers are used to (1) move revenues from the fund that collects them to the fund that the
budget requires to expend them, (2) move receipts restricted to debt service from the funds collecting the
receipts to the debt service fund, and (3) use unrestricted revenues collected in the general fund to
finance various programs accounted for in other funds in accordance with budgetary authorizations.
E.LONG-TERM OBLIGATIONS
Long-term obligations activity for the year ended December 31, 2017, was as follows:
Beginning
Balance Increases Decreases
Ending
Balance
Amounts Due
Within One
Year
Governmental Activities
Bonds and Loans Payable
General obligation debt $51,145,000 $-$7,670,000 $43,475,000 $7,870,000
Loans payable 4,271,187 -1,330,309 2,940,878 1,330,307
(Discounts)/Premiums
Bond discount (32,237)-(24,894)(7,343)-
Bond premium 2,619,908 -103,777 2,516,131 -
Other Liabilities
Compensated absences 1,498,302 1,148,204 1,123,727 1,522,779 304,556
Capital leases 490,792 -243,593 247,199 247,199
Other postemployment
benefits 2,938,856 864,458 481,702 3,321,612 -
Net pension liability 85,216,213 25,311,184 33,329,506 77,197,891 -
Claims payable 1,938,607 800,251 1,057,818 1,681,040 672,416
Total Governmental
Activities Long-Term
Liabilities $150,086,628 $28,124,097 $45,315,538 $132,895,187 $10,424,478
Business-type Activities
Notes Payable
Notes Payable $6,829,143 $-$281,289 $6,547,854 $468,815
Other Liabilities
Compensated absences 70,764 118,468 53,073 136,159 27,232
Net pension liability 2,145,709 714,143 995,168 1,864,684 -
Total Business-type
Activities Long-Term
Liabilities $9,045,616 $832,611 $1,329,530 $8,548,697 $496,047
Page 66
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE III - DETAILED NOTES ON ALL FUNDS (cont.)
E.LONG-TERM OBLIGATIONS (cont.)
General Obligation Debt
Governmental Activities
General Obligation Debt
Repayment
Fund
Date of
Issue
Final
Maturity
Interest
Rates
Balance
December 31,
2017
$11,290,000 General
Obligation Refunding
Series 2009D due in
annual installments
of $385,000 to
$1,640,000
Special Tax
Allocation 10/21/2009 12/01/2018 2.0% - 4.0%$1,360,000
$18,090,000 General
Obligation Refunding
Bond Series 2012A
due in annual
installments of
$5,850,000 to
$6,210,000
Special Tax
Allocation 06/14/2012 12/01/2021 3.0% - 4.0%18,090,000
$14,575,000 General
Obligation Refunding
Bond Series 2012B
due in annual
installments of
$1,200,000 to
$1,750,000
Corporate
Purpose
Bonds 12/18/2012 12/01/2024 3.0%-4.0%10,835,000
$7,730,000 General
Obligation Refunding
Bond Series 2012C
due in annual
installments of
$1,365,000 to
$1,735,000
Special Tax
Allocation 12/18/2012 12/01/2018 2.0%-3.0%1,735,000
$6,065,000 General
Obligation Bond
Series 2013A due in
annual installments
of $245,000 to
$410,000
Corporate
Purpose
Bonds 12/19/2013 12/01/2033 2.0%-4.0%5,090,000
$4,385,000 General
Obligation Bond
Taxable Series
2013B due in annual
installments of
$585,000 to
$680,000
Waukegan
Golf TIF 12/19/2013 12/1/2023 1.5%-3.5%$3,800,000
Page 67
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE III - DETAILED NOTES ON ALL FUNDS (cont.)
E.LONG-TERM OBLIGATIONS (cont.)
General Obligation Debt (cont.)
Governmental Activities
General Obligation Debt
(cont.)
Repayment
Fund
Date of
Issue
Final
Maturity
Interest
Rates
Balance
December 31,
2017
$10,000,000 General
Obligation Refunding
Bond Series 2015
due in annual
installments of
$2,395,000 to
$2,565,000
Special Tax
Allocation 07/30/2015 12/01/2018 .44%-1.05%$2,565,000
Total Governmental Activities - General Obligation Debt $43,475,000
Debt service requirements to maturity are as follows:
Governmental Activities
General Obligation Debt
Years Principal Interest
2018 $7,870,000 $1,436,675
2019 8,125,000 1,231,791
2020 8,390,000 980,473
2021 8,660,000 715,882
2022 2,545,000 378,582
2023-2027 5,645,000 808,572
2028-2032 1,830,000 307,200
2033 410,000 16,400
Totals $43,475,000 $5,875,575
Page 68
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE III - DETAILED NOTES ON ALL FUNDS (cont.)
E.LONG-TERM OBLIGATIONS (cont.)
Loans and Notes Payable
Loans and Notes Payable at December 31, 2017 consist of the following:
Governmental Activities
Loans and Notes Payable
Repayment
Fund
Date of
Issue
Final
Maturity
Interest
Rates
Balance
December 31,
2017
$633,827 Illinois
Environmental
Protection Agency Loan
due in semi-annual
installments of $6,617 to
$12,185
Capital
Projects 10/01/2010 04/14/2031 N/A $329,004
$6,529,688 5 Year Loan
due in 5 installments of
$1,305,938
Special Tax
Allocation 12/01/2014 12/01/2019 1.850%2,611,874
Total Governmental Activities Loans and Notes Payable $2,940,878
Business-type Activities
Loans and Notes Payable
Repayment
Fund
Date of
Issue
Final
Maturity
Interest
Rates
Balance
December 31,
2017
$7,333,416 Draw/Term
Note Payable due in
annual installments of
$50,000 to $1,200,000 Water 05/01/2015 12/01/2025
LIBOR
through
8/1/16 then
2.0%$6,547,854
Total Business-type Activities Loans and Notes Payable $6,547,854
Debt service requirements to maturity are as follows:
Governmental Activities Business-type Activities
Loans and Notes Payable Loans and Notes Payable
Years Principal Interest Principal Interest
2018 $1,330,307 $48,991 $468,815 $130,957
2019 1,330,307 24,495 656,340 121,581
2020 24,370 -843,866 108,454
2021 24,370 -1,031,392 91,577
2022 24,370 -1,125,155 70,949
2023-2027 121,850 -2,422,286 89,454
2028-2031 85,304 ---
Totals $2,940,878 $73,486 $6,547,854 $612,972
Page 69
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE III - DETAILED NOTES ON ALL FUNDS (cont.)
E.LONG-TERM OBLIGATIONS (cont.)
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 W ater System. This is a Bank Qualified Tax Exempt loan and the Village has drawn a
total of $6,876,024 and made principal payments in the amount of $281,289 for the year ending December
31, 2017. The remaining amount will not be drawn.
Capital Leases
Refer to Note III. F.
Other Debt Information
The compensated absences liability, other post employment benefits obligation, and net pension liability
attributable to governmental activities will be liquidated primarily by the General Fund.
Noncommitment Debt - Special Service Area Bonds
The special services area bonds outstanding as of December 31, 2017 totaled $2,289,645. 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.
F. LEASE DISCLOSURES
Lessee - Capital Leases
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, 2017 is $247,199 and the future minimum lease obligations are as follows:
Governmental Activities
Years Principal Interest Totals
2018 $247,199 $3,658 $250,857
Totals $247,199 $3,658 $250,857
Page 70
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE III - DETAILED NOTES ON ALL FUNDS (cont.)
F. LEASE DISCLOSURES (cont.)
Lessor - Capital Leases
The Village of Glenview owns a parcel of land valued at $1,560,000 which is for the former Dominick's
leased property (1020 W aukegan 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 $910,000 lease receivable as of fiscal year-end.
Governmental Activities
Years Principal Interest Total
2018 $131,033 $24,967 $156,000
2019 135,355 20,645 156,000
2020 139,821 16,179 156,000
2021 144,433 11,567 156,000
2022 149,198 6,802 156,000
2023 128,084 1,916 130,000
Totals $827,924 $82,076 $910,000
G.COMPONENT UNIT
GLENVIEW LIBRARY
This report contains the Glenview Library (Library), which is included as a component unit.
In addition to the basic financial statements and the preceding notes to financial statements which apply,
the following additional disclosures are considered necessary for a fair presentation.
a. Basis of Accounting/Measurement Focus
The Library follows the modified accrual basis of accounting and the flow of economic resources
measurement focus.
Page 71
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE III - DETAILED NOTES ON ALL FUNDS (cont.)
G.COMPONENT UNIT (cont.)
GLENVIEW LIBRARY (cont.)
b. Deposits and Investments
Carrying
Value
Statement
Balances Associated Risks
Deposits $5,311,442 $5,318,102 Custodial credit risk
The Illinois Funds 4,489 4,489 Credit risk
U.S. treasuries 499,082 499,082
Custodial credit risk, interest
rate risk
Total Deposits and Investments $5,815,013 $5,821,673
Reconciliation to financial statements
Per statement of net position
Cash and cash equivalents $3,838,031
Investments 1,976,982
Total Deposits and Investments $5,815,013
The Library categorizes its fair value measurements within the fair value hierarchy established by
generally accepted accounting principles. The hierarchy is based on the valuation inputs used to measure
the fair value of the asset. Level 1 inputs are quoted prices in active markets for identical assets; Level 2
inputs are significant other observable inputs; Level 3 inputs are significant unobservable inputs.
The Library used the market valuation method for all recurring fair value measurements.
December 31, 2017
Investment Type Level 1 Level 2 Level 3 Total
U.S. treasuries $499,082 $-$-$499,082
Total $499,082 $-$-$499,082
Custodial Credit Risk
Deposits
Custodial credit risk is the risk that in the event of a financial institution failure, the Library's deposits may
not be returned to the Library.
The Library does not have any deposits exposed to custodial credit risk.
Page 72
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE III - DETAILED NOTES ON ALL FUNDS (cont.)
G.COMPONENT UNIT (cont.)
GLENVIEW LIBRARY (cont.)
b. Deposits and Investments (cont.)
Credit Risk
Credit risk is the risk that an issuer or other counterparty to an investment will not fulfill its obligations.
The Library had investments in the Illinois Funds which was rated AAA by Standard & Poor's and not rated
by Moody's Investors Services.
Interest Rate Risk
Interest rate risk is the risk that changes in interest rates will adversely affect the value of an investment.
As of December 31, 2017, the Library's investments in U.S. treasuries were all set to mature in less than
one year.
See Note I.D.1. for further information on deposit and investment policies.
Page 73
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE III - DETAILED NOTES ON ALL FUNDS (cont.)
G.COMPONENT UNIT (cont.)
GLENVIEW LIBRARY (cont.)
c. Capital Assets
Beginning
Balance Additions Deletions
Ending
Balance
Capital assets not being depreciated
Land $5,426,987 $-$-$5,426,987
Total Capital Assets Not
Being Depreciated 5,426,987 --5,426,987
Capital assets being depreciated
Buildings and improvements 27,068,491 153,053 -27,221,544
Equipment and vehicles 128,107 --128,107
Library books and materials 7,291,203 689,739 1,040,825 6,940,117
Total Capital Assets Being
Depreciated 34,487,801 842,792 1,040,825 34,289,768
Total Capital Assets 39,914,788 842,792 1,040,825 39,716,755
Less: Accumulated depreciation for
Buildings and improvements (3,733,836)(570,031)-(4,303,867)
Equipment and vehicles (115,690)(2,070)-(117,760)
Library books and materials (5,253,749)(666,597)1,040,825 (4,879,521)
Total Accumulated
Depreciation (9,103,275)(1,238,698)1,040,825 (9,301,148)
Net Capital Assets Being
Depreciated 25,384,526 (395,906)-24,988,620
Total Component Unit
Capital Assets, Net $30,811,513 $(395,906)$-$30,415,607
d. Interfund Transfers
The following is a schedule of interfund transfers:
Fund Transferred To Fund Transferred From Amount
Principal
Purpose
Library Special Reserve Library General $122,224
Transfer to fund
certain capital
costs
Total - Fund Financial Statements $122,224
Page 74
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE III - DETAILED NOTES ON ALL FUNDS (cont.)
G.COMPONENT UNIT (cont.)
GLENVIEW LIBRARY (cont.)
e. Long-Term Obligations
Beginning
Balance Increases Decreases
Ending
Balance
Amounts
Due W ithin
One Year
Bonds Payable
General obligation debt $17,741,645 $-$1,190,000 $16,551,645 $1,225,045
(Discounts)/Premiums
Bond premium 2,504,306 -192,639 2,311,667 -
Other Liabilities
Compensated absences 268,513 217,153 201,385 284,281 56,856
Net pension liability 3,075,989 1,974,922 2,034,568 3,016,343 -
Total Component
Units Long-Term
Liabilities $23,590,453 $2,192,075 $3,618,592 $22,163,936 $1,281,901
Page 75
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE III - DETAILED NOTES ON ALL FUNDS (cont.)
G.COMPONENT UNIT (cont.)
GLENVIEW LIBRARY (cont.)
e. Long-Term Obligations (cont.)
Obligation Debt
Repayment
Fund
Date of
Issue
Final
Maturity
Interest
Rates
Balance
December 31,
2017
$26,300,000 General
Obligation Bond
Series 2009A due in
annual installments
of $460,000 to
$1,860,000
Library Debt
Service 05/05/2009 12/01/2018
3.00% -
4.125%$1,225,045
$15,326,600 General
Obligation Refunding
Bond Series 2016A
due in annual
installments of
$1,100,000 to
$1,750,000
Library Debt
Service 10/27/2016 12/01/2029
4.45%-
5.91%15,326,600
Total Component Unit - General Obligation Debt $16,551,645
Debt service requirements to maturity are as follows:
Principal Interest Totals
2018 $1,225,045 $725,379 $1,950,424
2019 1,083,500 682,457 1,765,957
2020 1,132,750 628,282 1,761,032
2021 1,191,850 571,645 1,763,495
2022 1,250,950 512,052 1,763,002
2023-2027 7,274,225 1,555,561 8,829,786
2028-2029 3,393,325 153,512 3,546,837
Totals $16,551,645 $4,828,888 $21,380,533
The compensated absences liability and net pension liability will be liquidated primarily by the
Library General Fund.
Page 76
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE IV - OTHER INFORMATION
A.EMPLOYEES' RETIREMENT SYSTEM
The Village contributes to three defined benefit pension plans, the Illinois Municipal Retirement Fund
(IMRF), an agent-multiple-employer public employee retirement system; the Police Pension Plan which is
a single-employer pension plan; and the Firefighters' Pension Plan which is a single-employer pension
plan. The benefits, benefit levels, employee contributions and employer contributions for the plans are
governed by Illinois Compiled Statutes and can only be amended by the Illinois General Assembly. The
Police Pension Plan and the Firefighters' Pension Plan do not issue separate reports on the pension
plans. IMRF does issue a publicly available report that includes financial statements and supplementary
information for the plan as a whole, but not for individual employers. That report can be obtained from
IMRF, 2211 York Road, Suite 500, Oak Brook, Illinois 60523. This report is also available for download at
www.imrf.org.
Illinois Municipal Retirement Fund
Plan description.All employees (other than those covered by the Police and Firefighters' Pension plans)
hired in positions that meet or exceed the prescribed annual hourly standard must be enrolled in IMRF as
participating members. IMRF has a two tier plan. Members who first participated in IMRF or an Illinois
Reciprocal System prior to January 1, 2011 participate in Tier 1. All other members participate in Tier 2.
For Tier 1 participants, pension benefits vest after 8 years of service. Participating members who retire at
age 55 (at reduced benefits) or after age 60 (at full benefits) with 8 years of service are entitled to an
annual retirement benefit, payable monthly for life in an amount equal to 1-2/3% of their final rate of
earnings (average of the highest 48 consecutive months' earnings during the last 10 years) for credited
service up to 15 years and 3% for each year thereafter.
Em ployees hired on or after January 1, 2011, are eligible for Tier 2 benefits. For Tier 2 participants,
pension benefits vest after 10 years of service. Participating members who retire at age 62 (at reduced
benefits) or after age 67 (at full benefits) with 10 years of service are entitled to an annual retirement
benefit, payable monthly for life in an amount equal to 1-2/3% of their final rate of earnings for the first 15
years of service credit, plus 2% for each year of service 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 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.
Under the employer number within IMRF, both the Village and Glenview Library contribute to the plan. As
a result, IMRF is considered to be an agent multiple-employer plan through which cost-sharing occurs
between the Village and Glenview Library.
Plan membership. At December 31, 2016, the measurement date, membership in the plan was as
follows:
Retirees and beneficiaries 242
Inactive, non-retired members 165
Active members 205
Total 612
Page 77
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE IV - OTHER INFORMATION (cont.)
A.EMPLOYEES' RETIREMENT SYSTEM (cont.)
Contributions. As set by statute, Village and Glenview Library employees participating in IMRF are
required to contribute 4.50% of their annual covered salary. The statute requires the Village and
Glenview Library to contribute the amount necessary, in addition to member contributions, to finance the
retirement coverage of its own employees. The Village and Glenview Library’s actuarially determined
contribution rate for calendar year 2016 was 12.90% of annual covered payroll for IMRF. The Village and
Glenview Library also contribute for disability benefits, death benefits and supplemental retirement
benefits, all of which are pooled at the IMRF level. Contribution rates for disability and death benefits are
set by the IMRF Board of Trustees, while the supplemental retirement benefits rate is set by statute.
Net Pension Liability/(Asset). The net pension liability/(asset) was measured as of December 31, 2016,
and the total pension liability used to calculate the net pension liability/(asset) was determined by an
actuarial valuation as of that date.
Summary of Significant Accounting Policies. For purposes of measuring the net pension
liability/(asset), deferred outflows of resources and deferred inflows of resources related to pensions, and
pension expense, information about the fiduciary net position of IMRF and additions to/deductions from
IMRF fiduciary net position have been determined on the same basis as they are reported by IMRF. For
this purpose, benefit payments (including refunds of employee contributions) are recognized when due
and payable in accordance with the benefit terms. Investments are reported at fair value.
Actuarial Assumptions. The total pension liability for IMRF was determined by actuarial valuations
performed as of December 31, 2016 using the following actuarial methods and assumptions:
Actuarial cost method Entry Age Normal
Asset valuation method Market Value
Actuarial assumptions
Investment Rate of Return 7.50%
Salary increases 3.75% to 14.50%,
including inflation
Price inflation 2.75%
Mo rtality. For non-disabled retirees, an IMRF specific mortality table was used with fully generational
projection scale MP-2014 (base year 2012). The IMRF specific rates 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 2012). The IMRF specific rates were developed from the RP-2014 Disabled Retirees
Mortality Table applying the same adjustment 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 2012). The IMRF specific rates were developed from the RP-2014 Employee Mortality Table
with adjustments to match current IMRF experience.
Page 78
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE IV - OTHER INFORMATION (cont.)
A.EMPLOYEES' RETIREMENT SYSTEM (cont.)
Long-Term Expected Real Rate of Return. The long-term expected rate of return on pension plan
investments was determined using an asset allocation study in which best-estimate ranges of expected
future real rates of return (net of pension plan investment expense and inflation) were developed for each
major asset class. These ranges were combined to produce long-term expected rate of return by the
target asset allocation percentage and by adding expected inflation. The target allocation and best
estimates of arithmetic and geometric real rates of return for each major asset class are summarized in
the following table:
Projected Returns/Risks
Asset Class
Target
Allocation
One Year
Arithmetic
Ten Year
Geometric
Equities 38.00%8.30%6.85%
International equities 17.00%8.45%6.75%
Fixed income 27.00%3.05%3.00%
Real estate 8.00%6.90%5.75%
Alternatives 9.00%
Private equity 12.45%7.35%
Hedge funds 5.35%5.25%
Commodities 4.25%2.65%
Cash equivalents 1.00%2.25%2.25%
Discount rate.The discount rate used to measure the total pension liability for IMRF was 7.50%. The
discount rate calculated using the December 31, 2015 measurement date was 7.48%. The projection of
cash flows used to determine the discount rate assumed that member contributions will be made at the
current contribution rate and that Village and Glenview Library contributions will be made at rates equal to
the difference between actuarially determined contribution rate and the member rate. Based on those
assumptions, the 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 investments was
applied to all periods of projected benefits to determine the total pension liability.
Discount rate sensitivity. The following is a sensitivity analysis of the net pension liability/(asset) to
changes in the discount rate. The table below presents net pension liability/(asset) of the Village and
Glenview Library calculated using the discount rate of 7.50% as well as what the net pension
liability/(asset) would be if it were to be calculated using a discount rate that is 1 percentage point lower
(6.50%) or 1 percentage point higher (8.50%) than the current rate:
1% Decrease
Current
Discount Rate 1% Increase
Village:
Total pension liability $97,082,357 $85,402,481 $75,854,756
Plan fiduciary net pension 73,971,056 73,971,056 73,971,056
Net pension liability/(asset)$23,111,301 $11,431,425 $1,883,700
Page 79
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE IV - OTHER INFORMATION (cont.)
A.EMPLOYEES' RETIREMENT SYSTEM (cont.)
1% Decrease
Current
Discount Rate 1% Increase
Glenview Library:
Total pension liability $25,616,553 $22,534,653 $20,015,351
Plan fiduciary net pension 19,518,310 19,518,310 19,518,310
Net pension liability/(asset)$6,098,243 $3,016,343 $497,041
Total:
Total pension liability $122,698,910 $107,937,134 $95,870,107
Plan fiduciary net pension 93,489,366 93,489,366 93,489,366
Net pension liability/(asset)$29,209,544 $14,447,768 $2,380,741
Changes in net pension liability/(asset). The changes in net pension liability/(asset)for the calendar
year ended December 31, 2016 were as follows:
Increase (Decrease)
Total Pension
Liability
(a)
Plan Fiduciary
Net Position
(b)
Net Pension
Liability/(Asset)
(a) - (b)
Village:
Balances at December 31, 2015 $83,403,478 $71,017,972 $12,385,506
Service cost 1,364,711 -1,364,711
Interest on total pension liability 6,067,722 -6,067,722
Differences between expected and actual
experience of the total pension liability
(459,967)-(459,967)
Change of assumptions (215,882)-(215,882)
Benefit payments, including refunds of
employee contributions
(3,886,045)(3,886,045)-
Contributions - employer -1,666,519 (1,666,519)
Contributions - employee -601,714 (601,714)
Net investment income -4,863,653 (4,863,653)
Other (net transfer)-578,779 (578,779)
Balances at December 31, 2016 $86,274,017 $74,842,592 $11,431,425
Page 80
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE IV - OTHER INFORMATION (cont.)
A.EMPLOYEES' RETIREMENT SYSTEM (cont.)
Increase (Decrease)
Total Pension
Liability
(a)
Plan Fiduciary
Net Position
(b)
Net Pension
Liability/(Asset)
(a) - (b)
Glenview Library:
Balances at December 31, 2015 $20,713,583 $17,637,594 $3,075,989
Service cost 360,098 -360,098
Interest on total pension liability 1,601,054 -1,601,054
Differences between expected and actual
experience of the total pension liability
70,733 -70,733
Change of assumptions (56,963)-(56,963)
Benefit payments, including refunds of
employee contributions
(1,025,388)(1,025,388)-
Contributions - employer -439,734 (439,734)
Contributions - employee -158,771 (158,771)
Net investment income -1,283,344 (1,283,344)
Other (net transfer)-152,719 (152,719)
Balances at December 31, 2016 $21,663,117 $18,646,774 $3,016,343
Total:
Balances at December 31, 2015 $104,117,061 $88,655,566 $15,461,495
Service cost 1,724,809 -1,724,809
Interest on total pension liability 7,668,776 -7,668,776
Differences between expected and actual
experience of the total pension liability
(389,234)-(389,234)
Change of assumptions (272,845)-(272,845)
Benefit payments, including refunds of
employee contributions
(4,911,433)(4,911,433)-
Contributions - employer -2,106,253 (2,106,253)
Contributions - employee -760,485 (760,485)
Net investment income -6,146,997 (6,146,997)
Other (net transfer)-731,498 (731,498)
Balances at December 31, 2016 $107,937,134 $93,489,366 $14,447,768
Plan fiduciary net position as a percentage of
the total pension liability %86.61
The net pension liability as of December 31, 2017 is reported on the financial statements as follows:
Business-Type Activities
Governmental
Activities
Glenview
Water Fund
Glenview
Sanitary
Sewer Fund
Total
Business-
Type
Activities
Component
Unit -
Glenview
Library Total
Net Pension
Liability $9,566,741 $1,522,741 $341,943 $1,864,684 $3,016,343 $14,447,768
Page 81
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE IV - OTHER INFORMATION (cont.)
A.EMPLOYEES' RETIREMENT SYSTEM (cont.)
Pension expense and deferred outflows of resources and deferred inflows of resources related
to pensions.For the year ended December 31, 2017, the Village and Glenview Library recognized
pension expense of $3,856,434. The Village and Glenview Library reported deferred outflows and
inflows of resources related to pension from the following sources:
Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
Village:
Difference between expected and actual experience $337,702 $229,540
Assumption changes 795,852 160,901
Net difference between projected and actual earnings on pension
plan investments 3,612,742 -
Changes in component proportion between governmental, business
and component unit 66,360 92,736
Contributions subsequent to the measurement date 1,643,973 -
Total $6,456,629 $483,177
Glenview Library:
Difference between expected and actual experience $89,107 $60,567
Assumption changes 209,998 42,456
Net difference between projected and actual earnings on pension
plan investments 953,273 -
Changes in component proportion between governmental, business
and component unit 52,699 26,323
Contributions subsequent to the measurement date 433,785 -
Total $1,738,862 $129,346
Total:
Difference between expected and actual experience $426,809 $290,107
Assumption changes 1,005,850 203,357
Net difference between projected and actual earnings on pension
plan investments 4,566,015 -
Changes in component proportion between governmental, business
and component unit 119,059 119,059
Contributions subsequent to the measurement date 2,077,758 -
Total $8,195,491 $612,523
Page 82
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE IV - OTHER INFORMATION (cont.)
A.EMPLOYEES' RETIREMENT SYSTEM (cont.)
The deferred inflows of resources and deferred outflows of resources as of December 31, 2017 is
reported on the financial statements as follows:
Business-Type Activities
Governmental
Activities
Glenview Water
Fund
Glenview
Sanitary Sewer
Fund
Total Business-
Type Activities
Component
Unit -
Glenview
Library Total
Deferred Outflows of
Resources $5,414,254 $851,226 $191,149 $1,042,375 $1,738,862 $8,195,491
Deferred Inflows of
Resources 327,379 129,361 26,437 155,798 129,346 612,523
The amount reported as deferred outflows resulting from contributions subsequent to the measurement
date in the above table will be recognized as a reduction in the net pension liability/(asset) for the year
ending . The remaining amounts reported as deferred outflows and inflows of resources related to
pensions ($5,505,210) will be recognized in pension expense as follows:
Year Ending December 31,Village
Component
Unit -
Glenview
Library Total
2018 $2,016,136 $538,619 $2,554,755
2019 1,323,744 355,921 1,679,665
2020 916,603 263,601 1,180,204
2021 72,996 17,590 90,586
Total $4,329,479 $1,175,731 $5,505,210
Police Pension
Plan description. Police sworn personnel are covered by the Police Pension Plan, which is a defined
benefit single-employer pension plan. Although this is a single employer pension plan, the defined benefits
and employee and employer contribution levels are governed by Illinois State Statutes (Chapter 40 ILCS
5/3) and may be amended only by the Illinois legislature. The Village accounts for the plan as a pension
trust fund.
As provided for in the Illinois Compiled Statutes, the Plan provides retirement benefits as well as death
and disability benefits to employees grouped into two tiers. Tier 1 is for employees hired prior to January 1,
2011 and Tier 2 is for employees hired after that date. The following is a summary of the Police Pension
Fund as provided for in Illinois Compiled Statutes.
Page 83
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE IV - OTHER INFORMATION (cont.)
A.EMPLOYEES' RETIREMENT SYSTEM (cont.)
Police Pension (cont.)
Tier 1 - Covered employees attaining the age of 50 or more with 20 or more years of creditable service are
entitled to receive an annual retirement benefit of one half of the salary attached to the rank on the last
day of service, or for one year prior to the last day, whichever is greater. The pension shall be increased
by 2.5% of such salary for each additional year of service over 20 years up to 30 years to a maximum of
75% of such salary. Employees with at least 8 years but less than 20 years of credited service may retire
at or after age 60 and receive a reduced retirement benefit. The monthly pension of a police officer who
retired with 20 or more years of service after January 1, 1977 shall be increased annually, following the
first anniversary date of retirement and paid upon reaching at least the age 55, by 3% of the original
pension and 3% compounded annually thereafter.
Tier 2 - Covered employees attaining the age of 55 or more with 10 or more years of creditable service are
entitled to receive a monthly pension of 2.5% of the final average salary for each year of creditable
service. The salary is initially capped at $106,800 but increases annually thereafter and is limited to 75%
of final average salary. Employees with 10 or more years of creditable service may retire at or after age 50
and receive a reduced retirement benefit. The monthly pension of a police shall be increased annually on
the January 1 occurring either on or after the attainment of age 60 or the first anniversary of the pension
start date, whichever is later. Each annual increase shall be calculated at 3% or onehalf the annual
unadjusted percentage increase in the CPI, whichever is less.
Plan membership. At December 31, 2017, the Police Pension membership consisted of:
Retirees and beneficiaries 60
Inactive, non-retired members 3
Active members 68
Total 131
Page 84
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE IV - OTHER INFORMATION (cont.)
A.EMPLOYEES' RETIREMENT SYSTEM (cont.)
Police Pension (cont.)
Contributions. Covered employees are required to contribute 9.91% of their base salary to the Police
Pension Plan. If an employee leaves covered employment with less than 20 years of service, accumulated
employee contributions may be refunded without accumulated interest. The Village is required to
contribute the remaining amounts necessary to finance the plans as actuarially determined by an enrolled
actuary. Effective January 1, 2011 the Village’s contributions must accumulate to the point where the past
service cost for the Police Pension Plan is 90% funded by the year 2040. The Village's actuarially
determined contribution of $2,492,386 for the fiscal year ending December 31, 2017 was 36.17% of
annual covered payroll.
Net Pension Liability/(Asset). The net pension liability/(asset) was measured as of December 31, 2017,
and the total pension liability used to calculate the net pension liability/(asset) was determined by an
annual actuarial valuation as of that date.
Summary of Significant Accounting Policies. The financial statements of the Police Pension Plan are
prepared using the accrual basis of accounting. Plan member contributions are recognized in the period in
which contributions are due. The Village’s contributions are recognized when due and a formal
commitment to provide the contributions are made. Benefits and refunds are recognized when due and
payable in accordance with the terms of the plan.
Plan investments are reported at fair value. Short-term investments are reported at cost, which
approximated fair value. Investments that do not have an established market are reported at estimated
fair values.
Actuarial Assumptions. The total pension liability was determined by an actuarial valuation performed as
of December 31, 2017 using the following actuarial methods and assumptions:
Actuarial cost method Entry Age Normal
Asset valuation method Market Value
Actuarial assumptions
Interest rate 6.75%
Inflation 2.50%
Projected salary increases 3.62% to 7.36%
Cost-of-living adjustments 3.00%
RP-2000 Combined Healthy Mortality with a blue collar adjustment, projected to the valuation date using
Scale BB. RP-2000 Disabled Retiree Mortality, projected to the valuation date using Scale BB.
Page 85
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE IV - OTHER INFORMATION (cont.)
A.EMPLOYEES' RETIREMENT SYSTEM (cont.)
Police Pension (cont.)
Discount rate. The discount rate used to measure the total pension liability for the Police Pension Plan
was 6.75%, the same as the prior valuation. The projection of cash flows used to determine the discount
rate assumed that 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 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 Plan investments was applied to all periods of projected benefit
payments to determine the total pension liability.
Discount rate sensitivity.The following is a sensitivity analysis of the net pension liability to changes in
the discount rate. The table below presents the pension liability of the Village calculated using the
discount rate of 6.75% as well as what the net pension liability would be if it were to be calculated using
a discount rate that is 1 percentage point lower (5.75%) or 1 percentage point higher (7.75%) than the
current rate:
1% Decrease
Current
Discount Rate 1% Increase
Total pension liability $119,480,375 $104,688,057 $92,569,305
Plan fiduciary net position 79,413,972 79,413,972 79,413,972
Net pension liability $40,066,403 $25,274,085 $13,155,333
Changes in net pension liability/(asset).The Village's changes in net pension liability/(asset) for the
calendar year ended December 31, 2017 was as follows:
Increase (Decrease)
Total Pension
Liability
(a)
Plan Fiduciary
Net Position
(b)
Net Pension
Liability/Asset
(a) - (b)
Balances at December 31, 2016 $100,000,482 $72,005,465 $27,995,017
Service cost 1,751,973 -1,751,973
Interest on total pension liability 6,727,271 -6,727,271
Differences between expected and actual
experience of the total pension liability 386,681 -386,681
Benefit payments, including refunds of employee
contributions (4,178,350)(4,178,350)-
Contributions - employer -2,492,386 (2,492,386)
Contributions - employee -712,431 (712,431)
Net investment income -8,439,097 (8,439,097)
Administration -(57,057)57,057
Balances at December 31, 2017 $104,688,057 $79,413,972 $25,274,085
Plan fiduciary net position as a percentage of the
total pension liability %75.86
Page 86
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE IV - OTHER INFORMATION (cont.)
A.EMPLOYEES' RETIREMENT SYSTEM (cont.)
Police Pension (cont.)
Pension expense and deferred outflows of resources and deferred inflows of resources related
to pensions.For the year ended December 31, 2017, the Village recognized pension expense of
$3,499,751. The Village reported deferred outflows and inflows of resources related to pension from the
following sources:
Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
Difference between expected and actual experience $466,187 $2,071,398
Assumption changes 2,700,716 -
Net difference between projected and actual earnings on pension
plan investments -517,439
Total $3,166,903 $2,588,837
The amounts reported as deferred outflows and inflows of resources related to pensions ($578,066) will
be recognized in pension expense as follows:
Year Ending December 31,Amount
2018 $501,469
2019 501,469
2020 (429,869)
2021 (59,450)
2022 64,447
Total $578,066
Firefighters' Pension
Plan description. Fire sworn personnel are covered by the Firefighters' Pension Plan, which is a defined
benefit single-employer pension plan. Although this is a single employer pension plan, the defined benefits
and employee and employer contribution levels are governed by Illinois State Statutes (Chapter 40 ILCS
5/3) and may be amended only by the Illinois legislature. The Village accounts for the plan as a pension
trust fund.
As provided for in the Illinois Compiled Statutes, the Firefighters' Pension Plan provides retirement
benefits as well as death and disability benefits to employees grouped into two tiers. Tier 1 is for
employees hired prior to January 1, 2011 and Tier 2 is for employees hired after that date. The following is
a summary of the Firefighters' Pension Plan as provided for in Illinois Compiled Statutes.
Page 87
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE IV - OTHER INFORMATION (cont.)
A.EMPLOYEES' RETIREMENT SYSTEM (cont.)
Firefighters' Pension (cont.)
Tier 1 - Covered employees attaining the age of 50 or more with 20 or more years of creditable service are
entitled to receive a monthly retirement benefit of one half of the monthly salary attached to the rank held
in the fire service at the date of retirement. The monthly pension shall be increased by one twelfth of 2.5%
of such monthly salary for each additional month over 20 years of service through 30 years of service to a
maximum of 75% of such monthly salary. 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 retirement benefit. The monthly
pension of a firefighter 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 paid upon reaching at least the
age 55, by 3% of the original pension and 3% compounded annually thereafter.
Tier 2 - Covered employees attaining the age of 55 or more with 10 or more years of creditable service are
entitled to receive a monthly pension of 2.5% of the final average salary for each year of creditable
service. The salary is initially capped at $106,800 but increases annually thereafter and is limited to 75%
of final average salary. Employees with 10 or more years of creditable service may retire at or after age 50
and receive a reduced retirement benefit. The monthly pension of a firefighter shall be increased annually
on the January 1 occurring either on or after the attainment of age 60 or the first anniversary of the
pension start date, whichever is later. Each annual increase shall be calculated at 3% or one-half the
annual unadjusted percentage increase in the CPI, whichever is less.
Plan membership. At December 31, 2017, the Firefighters' Pension Plan membership consisted of:
Retirees and beneficiaries 88
Inactive, non-retired members 2
Active members 79
Total 169
Contributions. Participants contribute a fixed percentage of their base salary to the plans. At December
31, 2017, the contribution percentage was 9.455%. If a participant leaves covered employment with less
than 20 years of service, accumulated participant contributions may be refunded without accumulated
interest. The Village is required to contribute the remaining amounts necessary to finance the plans as
actuarially determined by an enrolled actuary. Effective January 1, 2011 the Village’s contributions must
accumulate to the point where the past service cost for the Firefighters' Pension Plan is 90% funded by
the year 2040. The Village's actuarially determined contribution of $3,839,494 for the fiscal year ending
December 31, 2017 was 45.90% of annual covered payroll.
Net pension liability/(asset). The net pension liability/(asset) was measured as of December 31, 2017,
and the total pension liability used to calculate the net pension liability/(asset) was determined by an
annual actuarial valuation as of that date.
Page 88
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE IV - OTHER INFORMATION (cont.)
A.EMPLOYEES' RETIREMENT SYSTEM (cont.)
Firefighters' Pension (cont.)
Summary of significant accounting policies. The financial statements of the Firefighters' Pension Plan
are prepared using the accrual basis of accounting. Plan member contributions are recognized in the
period in which contributions are due. The Village’s contributions are recognized when due and a formal
commitment to provide the contributions are made. Benefits and refunds are recognized when due and
payable in accordance with the terms of the plan.
Plan investments are reported at fair value. Short-term investments are reported at cost, which
approximated fair value. Investments that do not have an established market are reported at estimated
fair values.
Actuarial assumptions. The total pension liability was determined by an actuarial valuation performed as
of December 31, 2017 using the following actuarial methods and assumptions:
Actuarial cost method Entry Age Normal
Asset valuation method Market Value
Actuarial assumptions
Interest rate 7.00%
Inflation 2.50%
Projected salary increases 4.00% - 7.50%
Cost-of-living adjustments 2.50%
Mortality rates were based on the Lauterbach & Amen 2016 Illinois Firefighters Mortality Table.
Discount rate. The discount rate used to measure the total pension liability for the Firefighters' Pension
Plan was 7.00%, the same as the prior valuation. The projection of cash flows used to determine the
discount rate assumed that 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 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 Plan investments was applied to all periods of
projected benefit payments to determine the total pension liability.
Page 89
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE IV - OTHER INFORMATION (cont.)
A.EMPLOYEES' RETIREMENT SYSTEM (cont.)
Firefighters' Pension (cont.)
Discount rate sensitivity.The following is a sensitivity analysis of the net pension liability to changes in
the discount rate. The table below presents the pension liability of the Village calculated using the
discount rate of 7.00% as well as what the net pension liability would be if it were to be calculated using
a discount rate that is 1 percentage point lower (6.00%) or 1 percentage point higher (8.00%) than the
current rate:
1% Decrease
Current
Discount Rate 1% Increase
Total pension liability $144,488,338 $127,124,670 $112,856,045
Plan fiduciary net position 84,767,605 84,767,605 84,767,605
Net pension liability $59,720,733 $42,357,065 $28,088,440
Changes in net pension liability/(asset).The Village's changes in net pension liability/(asset) for the
calendar year ended December 31, 2017 was as follows:
Increase (Decrease)
Total Pension
Liability
(a)
Plan Fiduciary
Net Position
(b)
Net Pension
Liability/Asset
(a) - (b)
Balances at December 31, 2016 $122,643,352 $75,661,953 $46,981,399
Service cost 2,022,592 -2,022,592
Interest on total pension liability 8,377,782 -8,377,782
Differences between expected and actual
experience of the total pension liability 2,444 -2,444
Benefit payments, including refunds of employee
contributions (5,921,500)(5,921,500)-
Contributions - employer -3,839,494 (3,839,494)
Contributions - employee -801,858 (801,858)
Net investment income -10,455,191 (10,455,191)
Administration -(69,391)69,391
Balances at December 31, 2017 $127,124,670 $84,767,605 $42,357,065
Plan fiduciary net position as a percentage of the
total pension liability %66.68
Page 90
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE IV - OTHER INFORMATION (cont.)
A.EMPLOYEES' RETIREMENT SYSTEM (cont.)
Firefighters' Pension (cont.)
Pension expense and deferred outflows of resources and deferred inflows of resources related
to pensions.For the year ended December 31, 2017, the Village recognized pension expense of
$5,800,462. The Village reported deferred outflows and inflows of resources related to pension from the
following sources:
Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
Difference between expected and actual experience $1,375,834 $1,526,992
Assumption changes 6,848,577 -
Net difference between projected and actual earnings on pension
plan investments 1,766,532 4,164,869
Total $9,990,943 $5,691,861
The amounts reported as deferred outflows and inflows of resources related to pensions ($4,299,082)
will be recognized in pension expense as follows:
Year Ending December 31,Amount
2018 $1,381,658
2019 1,381,658
2020 566,831
2021 408,578
2022 560,109
Thereafter 248
Total $4,299,082
Page 91
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE IV - OTHER INFORMATION (cont.)
A.EMPLOYEES' RETIREMENT SYSTEM (cont.)
PENSION SEGMENT INFORMATION
Fiduciary Net Position
Pension Trust
Police Pension
Fund
Firefighters'
Pension Fund Total
Assets
Cash and cash equivalents $2,012,342 $878,316 $2,890,658
Investments
U.S. treasuries 7,613,717 4,604,484 12,218,201
U.S. agencies 7,738,637 20,245,097 27,983,734
Mutual funds 47,195,918 54,303,725 101,499,643
Corporate obligations 14,289,725 -14,289,725
Municipal obligations 378,143 4,596,921 4,975,064
Receivables - (net allowances for uncollectibles)
Accrued interest 204,572 177,018 381,590
Prepaid items 6,137 4,890 11,027
Total Assets 79,439,191 84,810,451 164,249,642
Liabilities
Accrued expenses 24,530 39,943 64,473
Due to primary government 687 2,903 3,590
Total Liabilities 25,217 42,846 68,063
Net Position
Restricted for pension benefits $79,413,974 $84,767,605 $164,181,579
Page 92
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE IV - OTHER INFORMATION (cont.)
A.EMPLOYEES' RETIREMENT SYSTEM (cont.)
Changes in Plan Net Position
Pension Trust
Police Pension
Fund
Firefighters'
Pension Fund Total
Additions
Contributions
Employer $2,492,386 $3,839,494 $6,331,880
Participant 712,432 801,858 1,514,290
Total Contributions 3,204,818 4,641,352 7,846,170
Investment Income
Net appreciation in fair value of investments 5,492,067 6,951,967 12,444,034
Pensions - Interest income 3,024,105 3,650,588 6,674,693
Total Investment income 8,516,172 10,602,555 19,118,727
Less investment expense 134,132 216,756 350,888
Net investment income 8,382,040 10,385,799 18,767,839
Total Additions 11,586,858 15,027,151 26,614,009
Deductions
Retirement pensions 3,722,924 4,853,954 8,576,878
Widow pensions 284,700 557,897 842,597
Disability pensions 122,455 507,696 630,151
Children's pensions 48,270 1,952 50,222
Total Deductions 4,178,349 5,921,499 10,099,848
Change in net position 7,408,509 9,105,652 16,514,161
Net position, beginning of year 72,005,465 75,661,953 147,667,418
Net position, end of year $79,413,974 $84,767,605 $164,181,579
B.RISK MANAGEMENT
The Village is exposed to various risks of loss related to torts; theft of, damage to, or destruction of assets;
errors and omissions; workers compensation; and health care of its employees. The Village is self-insured
for general liability, auto, property, and workers' compensation risks. are accounted for and financed by
the Village in an internal service fund - the Insurance and Risk Fund.
Page 93
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE IV - OTHER INFORMATION (cont.)
B.RISK MANAGEMENT (cont.)
Self Insurance
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. The Village has purchased commercial insurance for claims in excess of
those amounts. Settled claims have not exceeded the commercial coverage in any of the past three years.
A liability for a claim is established if information indicates that it is probable that a liability has been
incurred at the date of the financial statements and the amount of the loss is reasonably estimable.
Liabilities include an amount for claims that have been incurred but not reported. The Village does not
allocate overhead costs or other nonincremental costs to the claims liability.
Claims Liability
Prior Year Current Year
Unpaid claims - Beginning of Year $1,581,100 $1,938,607
Current year claims and changes in estimates 888,396 800,251
Claim payments (530,889)(1,057,818)
Unpaid Claims - End of Year $1,938,607 $1,681,040
Public Entity Risk Pool
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.
Page 94
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE IV - OTHER INFORMATION (cont.)
B.RISK MANAGEMENT (cont.)
Public Entity Risk Pool (cont.)
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 and Risk 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.
C.COMMITMENTS AND CONTINGENCIES
Claims and judgments are recorded as liabilities if all the conditions of Governmental Accounting
Standards Board pronouncements are met. The liability and expenditure for claims and judgments are
only reported in governmental funds if it has matured. Claims and judgments are recorded in the
government-wide statements and proprietary funds as expenses when the related liabilities are incurred.
From time to time, the Village is party to various pending claims and legal proceedings. Although the
outcome of such matters cannot be forecasted with certainty, it is the opinion of management and the
Village attorney that the likelihood is remote that any such claims or proceedings will have a material
adverse effect on the Village's financial position or results of operations.
The Village has received federal and state grants for specific purposes that are subject to review and audit
by the grantor agencies. Such audits could lead to requests for reimbursements to the grantor agency for
expenditures disallowed under terms of the grants. Management believes such disallowances, if any,
would be immaterial.
Page 95
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE IV - OTHER INFORMATION (cont.)
D.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
certain criteria for allocating premium costs including miles of streets, number of motor vehicles, number
of full-time equivalent employees, and 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.
Solid Waste Agency of Northern Cook County
The Village is a member of a joint venture, the Solid W aste Agency of Northern Cook County (SW ANCC),
which consists of twenty-three municipalities. SW ANCC 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
SW ANCC 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 SW ANCC Agreement, additional members may join SW ANCC upon the approval of
each member.
SW ANCC 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
SW ANCC is elected by the Board of Directors. The Board of Directors determines the general policy of
SW ANCC, makes all appropriations, approves contracts, adopts resolutions providing for the issuance of
bonds or notes by SW ANCC, 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 $508,524 to SW ANCC for the year
ended December 31, 2017. The payments are recorded in the General Fund. The Village does not have
an equity interest in SW ANCC at December 31, 2017.Complete financial statements for SW ANCC can be
obtained from SW ANCC's administrative office at 2700 Patriot Boulevard, Suite 110, Glenview, Illinois
60026, or from SW ANCC's website, www.swancc.org.
Page 96
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE IV - OTHER INFORMATION (cont.)
E.OTHER POSTEMPLOYMENT BENEFITS
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.
The Village negotiates the contribution percentages between the Village and employees through the union
contracts and personnel policy. All retirees contributes 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.
The Village’s annual other postemployment benefit (OPEB) cost (expense) is calculated based on the
annual required contribution of the employer (ARC), an amount actuarially determined in accordance with
parameters of GASB Statement No. 45. The ARC represents a level of funding that, if paid on an ongoing
basis, is projected to cover normal cost each year and 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 plan, and changes in the
Village’s net OPEB obligation to the Retiree Health Plan:
Annual required contribution $910,322
Interest on net OPEB obligation 117,554
Adjustment to annual required contribution (163,418)
Annual OPEB cost 864,458
Contributions made (481,702)
Increase in net OPEB obligation (asset)382,756
Net OPEB Obligation (Asset) - Beginning of Year 2,938,856
Net OPEB Obligation (Asset) - End of Year $3,321,612
Page 97
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE IV - OTHER INFORMATION (cont.)
E.OTHER POSTEMPLOYMENT BENEFITS (cont.)
The Village's annual OPEB cost, the percentage of annual OPEB cost contributed to the plan, and the net
OPEB obligation for 2017 and the two preceding years were as follows:
Fiscal Year Ended
Annual OPEB
Cost
Percentage of
Annual OPEB
Cost
Contributed
Net OPEB
Obligation
December 31, 2015 $740,015 %58.37 $2,635,519
December 31, 2016 735,316 %58.75 2,938,856
December 31, 2017 864,458 %55.72 3,321,612
The funded status of the plan as of December 31, 2017, the most recent actuarial valuation date, was as
follows:
Actuarial accrued liability (AAL)$9,679,919
Actuarial value of plan assets -
Unfunded Actuarial Accrued Liability (UAAL)$9,679,919
Funded ratio (actuarial value of plan assets/AAL)0.00%
Covered payroll (active plan members)$27,626,978
UAAL as a percentage of covered payroll 35.04%
Actuarial valuations of an ongoing plan involve estimates for 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 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. The schedule of funding progress, presented as required supplementary information
following the notes to the financial statements, presents multiyear trend information that shows whether
the actuarial value of plan assets is increasing or decreasing over time relative to the actuarial accrued
liabilities for benefits.
Projections of benefits for financial reporting purposes are based on the substantive plan (the plan as
understood by the employer and plan members) and include the types of benefits provided at the time of
each valuation and the historical pattern of sharing benefit costs between the employer and plan members
to that point. The methods and assumptions used include techniques that are designed to reduce short-
term volatility in actuarial accrued liabilities and the actuarial value of assets, consistent with the long-term
perspective of the calculations.
Page 98
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE IV - OTHER INFORMATION (cont.)
E. OTHER POSTEMPLOYMENT BENEFITS (cont.)
In the December 31, 2017 actuarial valuation, the entry age actuarial cost method was used. The
actuarial assumptions include a 4.0% investment rate of return and an annual healthcare cost trend rate
of 8.5% initially, reduced by decrements to an ultimate rate of 4.5% after 9 years. Both rates include a
2.5% inflation assumption. The actuarial value of Retiree Health Plan assets was determined using
techniques that spread the effects of short-term volatility in the market value of investments over a three-
year period. The plan’s unfunded actuarial accrued liability is being amortized as a level percentage of
projected payroll on an open basis. The amortization period at December 31, 2017, was 30 years.
F. TAX ABATEMENT
Tax abatements are a reduction in tax revenues that results from an agreement between one or more
governments and an individual or entity in which (a) one or more governments promise to forgo tax
revenues to which they are otherwise entitled and (b) the individual or entity promises to take a specific
action after the agreement has been entered into that contributes to economic development or otherwise
benefits the governments or the citizens of those governments.
The Village is disclosing all abatement agreements individually.
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 retailed 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 2017, the Village made payments to the retailer totaling
$2,351,218 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 2017, the Village
made payments to the retailer totaling $172,404 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 $209,879.
Page 99
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2017
NOTE IV - OTHER INFORMATION (cont.)
G.EFFECT OF NEW ACCOUNTING STANDARDS ON CURRENT-PERIOD FINANCIAL STATEMENTS
The Governmental Accounting Standards Board (GASB) has approved the following:
Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other
Than Pensions
Statement No. 82, Pension Issues - an Amendment of GASB Statements No. 67, No. 68,
and No. 73
Statement No. 83, Certain Asset Retirement Obligations
Statement No. 84, Fiduciary Activities
Statement No. 85, Omnibus 2017
Statement No. 86, Certain Debt Extinguishment Issues
Statement No. 87, Leases
Statement No. 88, Certain Disclosures Related to Debt, including Direct Borrowings and
Direct Placements
When they become effective, application of these standards may restate portions of these financial
statements.
Page 100
R E Q U I R E D S U P P L E M E N T A R Y I N F O R M A T I O N
VILLAGE OF GLENVIEW
ILLINOIS MUNICIPAL RETIREMENT FUND
SCHEDULE OF CHANGES IN THE VILLAGE'S NET PENSION LIABILITY
AND RELATED RATIOS
Last Three Fiscal Years
2015 2016 2017
Total pension liability
Service cost 1,820,396$ 1,811,084$ 1,724,809$
Interest 6,687,409 7,334,465 7,668,776
Differences between expected and actual experience 1,332,409 89,850 (389,234)
Changes of assumptions 3,276,901 134,651 (272,845)
Benefit payments, including refunds of member
contributions (4,167,199) (4,541,759) (4,911,433)
Net change in total pension liability 8,949,916 4,828,291 3,820,073
Total pension liability - beginning 90,338,854 99,288,770 104,117,061
Total pension liability - ending (a)99,288,770$ 104,117,061$ 107,937,134$
Plan fiduciary net position
Employer contributions 2,164,748$ 2,190,329$ 2,106,253$
Employee contributions 730,940 780,555 760,485
Net investment income 5,153,430 442,220 6,146,997
Benefit payments, including refunds of member
contributions (4,167,199) (4,541,759) (4,911,433)
Other (net transfer) 229,348 554,737 731,498
Net change in plan fiduciary net position 4,111,267 (573,918) 4,833,800
Plan fiduciary net position - beginning 85,118,217 89,229,484 88,655,566
Plan fiduciary net position - ending (b)89,229,484$ 88,655,566$ 93,489,366$
Employer's net pension liability - ending (a) - (b)10,059,286$ 15,461,495$ 14,447,768$
Plan fiduciary net position as a percentage of the
total pension liability 89.87% 85.15% 86.61%
Covered-employee payroll 16,154,258$ 17,008,659$ 16,327,538$
Employer's net pension liability as a percentage of
covered-employee payroll 62.27%90.90%88.49%
Notes to Schedule:
The Village implemented GASB Statement No. 68 in fiscal year 2015. Information prior to fiscal year 2015 is not
available.See independent auditors' report and notes to required supplementary information.
Page 101
VILLAGE OF GLENVIEW
ILLINOIS MUNICIPAL RETIREMENT FUND
SCHEDULE OF EMPLOYER CONTRIBUTIONS
Last Three Fiscal Years
2015 2016 2017
Actuarially determined contribution 2,146,493$ 2,106,252$ 2,033,367$
Contributions in relation to the actuarially
determined contribution (2,190,329) (2,106,253) (2,076,423)
Contribution deficiency (excess) (43,836)$ (1)$ (43,056)$
Covered-employee payroll 17,008,659$ 16,327,538$ 16,293,001$
Contributions as a percentage of covered-
employee payroll 12.88% 12.90% 12.74%
Notes to Schedule:
Valuation date:
Methods and assumptions used to determine contribution rates:
Actuarial cost method
Amortization method
Remaining amortization period
Asset valuation method
Inflation 2.75%
Salary increases
Investment rate of return 7.50%
Retirement Age
Mortality
Other information:
There were no benefit changes during the year.
Actuarially determined contribution rates are calculated as of December 31 each year, which are are 12 months prior to
the beginning of of the fiscal year in which contributions are reported.
The Village implemented GASB Statement No. 68 in fiscal year 2015. Information prior to fiscal year 2015 is not
available.
3.75% to 14.50% including inflation
Experience-based table of rates that are specific to the type of
eligibility condition
RP-2014 CHBCA with adjustments to match current IMRF
experience
Entry age normal
Level percentage of payroll, closed
27-year closed period until remaining period reaches 15 years
(then 15-year rolling period)
5-Year Smoothed Market; 20% corridor
See independent auditors' report and notes to required supplementary information.
Page 102
VILLAGE OF GLENVIEW
POLICE PENSION FUND
SCHEDULE OF CHANGES IN THE VILLAGE'S NET PENSION LIABILITY AND RELATED RATIOS
Last Four Fiscal Years
2014 2015
Total pension liability
Service cost 1,674,658$ 2,025,748$
Interest 5,490,500 6,368,405
Differences between expected and actual experience - (4,142,795)
Changes of assumptions - 898,895
Contributions - buy back - 49,495
Benefit payments, including refunds of member contributions (3,274,551) (3,665,231)
Net change in total pension liability 3,890,607 1,534,517
Total pension liability - beginning 86,893,481 90,784,088
Total pension liability - ending (a)90,784,088$ 92,318,605$
Plan fiduciary net position
Employer contributions 1,953,494$ 7,494,545$
Employee contributions 686,942 728,210
Buy back contributions - 49,495
Net investment income 2,799,434 (2,979)
Benefit payments, including refunds of member contributions (3,274,551) (3,665,231)
Administration (45,490) (51,118)
Net change in plan fiduciary net position 2,119,829 4,552,922
Plan fiduciary net position - beginning 62,083,784 64,203,613
Plan fiduciary net position - ending (b)64,203,613$ 68,756,535$
Village's net pension liability - ending (a) - (b)26,580,475$ 23,562,070$
Plan fiduciary net position as a percentage of the total
pension liability 70.72% 74.48%
Covered-employee payroll 7,055,218$ 6,985,724$
Village's net pension liability as a percentage of covered-
employee payroll 376.75% 337.29%
Notes to Schedule:
Changes of assumptions. For measurement date December 31, 2016, the discount rate was changed from 7.00% as of
December 31, 2015 to 6.75% as of December 31, 2016.
The Pension implemented GASB Statement No. 67 in fiscal year 2014. Information prior to fiscal year 2014 is not
available.See independent auditors' report and notes to required supplementary information.
Page 103
2016 2017
1,601,139$ 1,751,973$
6,436,190 6,727,271
215,928 386,681
3,376,901 -
- -
(3,948,281) (4,178,350)
7,681,877 4,687,575
92,318,605 100,000,482
100,000,482$ 104,688,057$
2,497,041$ 2,492,386$
812,961 712,431
- -
3,937,691 8,439,097
(3,948,281) (4,178,350)
(50,482) (57,057)
3,248,930 7,408,507
68,756,535 72,005,465
72,005,465$ 79,413,972$
27,995,017$ 25,274,085$
72.01% 75.86%
7,123,493$ 6,890,888
393.00%366.78%
See independent auditors' report and notes to required supplementary information.
Page 104
VILLAGE OF GLENVIEW
POLICE PENSION FUND
SCHEDULE OF EMPLOYER CONTRIBUTIONS
Last Ten Fiscal Years
2008 2009 2010 2011
Actuarially determined contribution 1,151,490$ 933,477$ 1,370,885$ 1,347,587$
Contributions in relation to the actuarially
determined contribution 1,393,628 1,168,933 1,802,629 1,767,986
Contribution deficiency (excess) (242,138)$ (235,456)$ (431,744)$ (420,399)$
Covered-employee payroll 6,112,516$ 5,847,732$ 5,855,973$ 6,091,656$
Contributions as a percentage of covered-
employee payroll 22.80% 19.99% 30.78% 29.02%
Notes to Schedule:
Valuation date: Actuarially determined contributions are calculated as of December 31 of the current fiscal year.
Methods and assumptions used to determine contribution rates:
Actuarial cost method
Amortization method
Asset valuation method
Inflation
Salary increases
Investment rate of return
Mortality
6.75%, net of pension plan investment expense,
including inflation
Mortality rates were based on the RP-2000 Combined Healthy Mortality with
blue collar adjustment, projected to the valuation date using Scale BB.
The Plan implemented GASB Statement No. 67 in fiscal year 2014. Information prior to fiscal year 2014 is derived from
actuarial valuations developed in conformity with GASB Statement No. 25 and 27.
Entry-age normal
Level percentage of payroll, closed
Market value
Age based from 3.62% to 7.36%
2.50%
See independent auditors' report and notes to required supplementary information.
Page 105
2012 2013 2014 2015 2016 2017
1,569,531$ 1,812,556$ 1,921,637$ 1,957,880$ 3,224,497$ 2,337,883$
1,812,692 1,632,373 1,953,494 7,494,545 2,497,041 2,492,386
(243,161)$ 180,183$ (31,857)$ (5,536,665)$ 727,456$ (154,503)$
6,136,593$ 6,359,627$ 7,055,218$ 6,985,724$ 7,123,493$ 6,890,888$
29.54%25.67%27.69% 107.28%35.05%36.17%
See independent auditors' report and notes to required supplementary information.
Page 106
VILLAGE OF GLENVIEW
POLICE PENSION FUND
SCHEDULE OF INVESTMENT RETURNS
Last Four Fiscal Years
2014 2015 2016 2017
Annual money-weighted rate of return,
net of investment expense 4.58%0.06%5.80%11.99%
Notes to Schedule:
The Pension implemented GASB Statement No. 67 in fiscal year 2014.
Information prior to fiscal year 2014 is not available.
See independent auditors' report and notes to required supplementary information.
Page 107
2014 2015
Total pension liability
Service cost 1,977,800$ 1,761,875$
Interest 7,079,887 7,367,177
Differences between expected and actual experience - 2,444,216
Changes of assumptions - 2,698,985
Benefit payments, including refunds of member contributions (4,862,207) (5,327,947)
Net change in total pension liability 4,195,480 8,944,306
Total pension liability - beginning 100,084,722 104,280,202
Total pension liability - ending (a)104,280,202$ 113,224,508$
Plan fiduciary net position
Employer contributions 3,134,768$ 10,309,348$
Employee contributions 751,554 750,195
Other contributions - -
Net investment income 4,274,117 817,749
Benefit payments, including refunds of member contributions (4,862,207) (5,327,947)
Administration (44,601) (82,809)
Net change in plan fiduciary net position 3,253,631 6,466,536
Plan fiduciary net position - beginning 62,072,386 65,326,017
Plan fiduciary net position - ending (b)65,326,017$ 71,792,553$
Village's net pension liability - ending (a) - (b)38,954,185$ 41,431,955$
Plan fiduciary net position as a percentage of the total
pension liability 62.64% 63.41%
Covered-employee payroll 7,058,973$ 7,926,515$
Village's net pension liability as a percentage of covered-
employee payroll 551.84% 522.70%
Notes to Schedule:
The Pension implemented GASB Statement No. 67 in fiscal year 2014. Information prior to fiscal year 2014 is not
available.
VILLAGE OF GLENVIEW
FIREFIGHTERS' PENSION FUND
SCHEDULE OF CHANGES IN THE VILLAGE'S NET PENSION LIABILITY AND RELATED RATIOS
Last Four Fiscal Years
See independent auditors' report and notes to required supplementary information.
Page 108
2016 2017
1,890,273$ 2,022,592$
7,728,761 8,377,782
(2,178,162) 2,444
7,605,249 -
(5,627,277) (5,921,500)
9,418,844 4,481,318
113,224,508 122,643,352
122,643,352$ 127,124,670$
4,016,250$ 3,839,494$
782,515 783,767
- 18,091
4,765,957 10,455,191
(5,627,277) (5,921,500)
(68,045) (69,391)
3,869,400 9,105,652
71,792,553 75,661,953
75,661,953$ 84,767,605$
46,981,399$ 42,357,065$
61.69% 66.68%
8,077,068$ 8,359,765$
581.66% 506.68%
See independent auditors' report and notes to required supplementary information.
Page 109
2008 2009 2010 2011
Actuarially determined contribution 1,712,540$ 1,987,548$ 1,941,060$ 2,160,105$
Contributions in relation to the actuarially
determined contribution 1,805,026 1,985,871 2,541,870 2,806,961
Contribution deficiency (excess) (92,486)$ 1,677$ (600,810)$ (646,856)$
Covered-employee payroll 6,109,904$ 6,519,762$ 6,621,473$ 6,926,020$
Contributions as a percentage of covered-
employee payroll 29.54% 30.46% 38.39% 40.53%
Notes to Schedule:
Valuation date: Actuarially determined contributions are calculated as of December 31 of the current fiscal year.
Methods and assumptions used to determine contribution rates:
Actuarial cost method
Amortization method
Asset valuation method
Inflation
Salary increases
Investment rate of return
Retirement age 115% of L&A 2016 Illinois Firefighters Retirement Rates Capped at age 62
Mortality L&A 2016 Illinois Firefighters Mortality Rates
4.00 - 7.50%
7.00%
Entry-age normal
The Plan implemented GASB Statement No. 67 in fiscal year 2014. Information prior to fiscal year 2014 is derived from
actuarial valuations developed in conformity with GASB Statement No. 25 and 27.
VILLAGE OF GLENVIEW
Last Ten Fiscal Years
FIREFIGHTERS' PENSION FUND
SCHEDULE OF EMPLOYER CONTRIBUTIONS
Level percentage of payroll, closed
Market value
2.50%
See independent auditors' report and notes to required supplementary information.
Page 110
2012 2013 2014 2015 2016 2017
2,420,075$ 2,985,212$ 2,733,414$ 3,739,508$ 3,974,237$ 3,590,168$
2,926,010 3,116,164 3,134,768 10,309,348 4,016,250 3,839,494
(505,935)$ (130,952)$ (401,354)$ (6,569,840)$ (42,013)$ (249,326)$
6,439,694$ 6,737,119$ 7,058,973$ 7,926,515$ 8,077,068$ 8,359,765$
45.44% 46.25% 44.41% 130.06% 49.72% 45.93%
See independent auditors' report and notes to required supplementary information.
Page 111
VILLAGE OF GLENVIEW
FIREFIGHTERS' PENSION FUND
SCHEDULE OF INVESTMENT RETURNS
Last Four Fiscal Years
2014 2015 2016 2017
Annual money-weighted rate of return,
net of investment expense 6.95%1.19%6.64%13.82%
Notes to Schedule:
The Pension implemented GASB Statement No. 67 in fiscal year 2014.
Information prior to fiscal year 2014 is not available.
See independent auditors' report and notes to required supplementary information.
Page 112
VILLAGE OF GLENVIEW
OTHER POSTEMPLOYMENT BENEFIT PLAN
SCHEDULE OF FUNDING PROGRESS
For the Year Ended December 31, 2017
Actuarial
Valuation
Date
Actuarial Value
of Assets
(a)
Actuarial
Accrued
Liability (AAL)
- Entry Age
(b)
Unfunded AAL
(UAAL)
(b-a)
Funded
Ratio
(a/b)
Covered
Payroll
(c)
UAAL as a
Percentage
of Covered
Payroll
((b-a)/c)
12/31/17 $-$9,679,919 $9,679,919 0%$27,626,978 35%
12/31/16 -8,444,479 8,444,479 0%25,567,450 33%
12/31/15 -8,204,677 8,204,677 0%24,702,850 33%
12/31/13 -10,130,708 10,130,708 0%25,641,149 40%
12/31/11 -9,556,094 9,556,094 0%29,228,867 33%
12/31/10 -8,695,668 8,695,668 0%26,967,070 32%
See independent auditors' report and accompanying notes to required supplementary information.
Page 113
VILLAGE OF GLENVIEW
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCE - BUDGET AND ACTUAL - GENERAL FUND
For the Year Ended December 31, 2017
With Comparative Actual Amounts for the Year Ended December 31, 2016
2017
Budgeted Amounts
Original Final Actual
Variance with
Final Budget
2016
Actual
REVENUES
TAXES
Property $11,741,963 $11,741,963 $11,892,712 $150,749 $11,550,920
Other taxes 14,901,416 14,901,416 14,885,856 (15,560)14,367,678
Licenses and permits 2,476,000 2,476,000 2,451,693 (24,307)2,088,538
Charges for services 11,795,525 11,795,525 12,459,200 663,675 10,030,784
Fines, forfeitures and
penalties 162,357 162,357 211,592 49,235 209,062
Intergovernmental 26,912,926 26,912,926 28,562,583 1,649,657 26,164,152
Investment income 140,000 140,000 332,462 192,462 164,974
Total
Revenues 68,130,187 68,130,187 70,796,098 2,665,911 64,576,108
EXPENDITURES
Current:
General government 19,308,422 19,216,209 17,820,637 1,395,572 17,300,029
Public works 9,308,182 9,385,999 8,755,999 630,000 8,873,791
Public safety 29,498,218 29,632,420 29,458,875 173,545 29,506,980
Development 3,494,708 3,568,368 3,507,512 60,856 3,709,714
Capital Outlay 750,000 750,000 725,398 24,602 27,426
Total
Expenditures 62,359,530 62,552,996 60,268,421 2,284,575 59,417,940
Excess of revenues
over expenditures 5,770,657 5,577,191 10,527,677 4,950,486 5,158,168
OTHER FINANCING
SOURCES (USES)
Transfers in 1,038,715 1,038,715 1,040,685 1,970 1,202,043
Transfers out (7,187,882)(7,187,882)(7,299,816)(111,934)(7,108,737)
Total Other
Financing
Sources (Uses)(6,149,167)(6,149,167)(6,259,131)(109,964)(5,906,694)
Net Change in Fund
Balance $(378,510)$(571,976)4,268,546 $4,840,522 (748,526)
FUND BALANCE -
Beginning of Year 25,490,346 26,238,872
FUND BALANCE -
END OF YEAR $29,758,892 $25,490,346
See independent auditors' report and accompanying notes to required supplementary information.
Page 114
VILLAGE OF GLENVIEW
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCE - BUDGET AND ACTUAL - SPECIAL TAX ALLOCATION FUND - MAJOR SPECIAL
REVENUE FUND
For the Year Ended December 31, 2017
With Comparative Actual Amounts for the Year Ended December 31, 2016
2017
Budgeted Amounts
Original Final Actual
Variance with Final
Budget
2016
Actual
REVENUES
Property taxes -
incremental $31,074,965 $31,074,965 $33,410,224 $2,335,259 $32,262,381
Intergovernmental -
miscellaneous 95,276 95,276 315,822 220,546 138,636
Charges for services 204,945 204,945 204,945 -204,945
Investment income 25,000 25,000 336,297 311,297 188,773
Total Revenues 31,400,186 31,400,186 34,267,288 2,867,102 32,794,735
EXPENDITURES
General Government
Personnel 350,303 350,303 332,284 18,019 361,235
Contractual
services 22,929,680 22,915,855 22,206,441 709,414 21,175,105
Commodities 123,573 137,323 78,167 59,156 104,214
Other charges 245,299 245,374 242,852 2,522 246,512
Total general
government 23,648,855 23,648,855 22,859,744 789,111 21,887,066
Capital Outlay ----186,451
Debt Service
Principal 6,850,938 6,850,938 6,850,938 -6,715,938
Interest and fiscal
charges 926,041 926,041 1,060,895 (134,854)1,102,865
Total
Expenditures 31,425,834 31,425,834 30,771,577 654,257 29,892,320
Excess (deficiency) of
revenues over (under)
expenditures (25,648)(25,648)3,495,711 3,521,359 2,902,415
OTHER FINANCING
SOURCES (USES)
Transfers out (308,798)(308,798)(308,798)-(277,288)
Total Other
Financing
Sources (Uses)(308,798)(308,798)(308,798)-(277,288)
Net Change in Fund
Balance $(334,446)$(334,446)3,186,913 $3,521,359 2,625,127
FUND BALANCE
(DEFICIT) - Beginning of
Year (8,916,293)(11,541,420)
FUND BALANCE
(DEFICIT) - END OF
YEAR $(5,729,380)$(8,916,293)
See independent auditors' report and notes to required supplementary information.
Page 115
VILLAGE OF GLENVIEW
NOTES TO REQUIRED SUPPLEMENTARY INFORMATION
For the Year Ended December 31, 2017
BUDGETARY INFORMATION
Annual budgets are adopted on a basis consistent with generally accepted accounting principles for all
governmental funds. 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. The budget is as amended by the Board of Trustees. All annual appropriations lapse at fiscal
year end.
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.
See independent auditors' report.
Page 116
S U P P L E M E N T A R Y I N F O R M A T I O N
GOVERNMENTAL FUND DESCRIPTIONS
MAJOR GENERAL AND SPECIAL REVENUE FUNDS
Note that summaries of the General Fund and the major special revenue funds are provided in the
required supplementary information section.
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.
BUDGET AND ACTUAL - GENERAL FUND
With Comparative Actual Amounts for the Year Ended December 31, 2016
2016
Original Final Actual Actual
LOCAL TAXES
Property taxes for Village
Current year 2,067,729$ 2,067,729$ 2,063,393$ 1,520,280$
Prior year - - (35,412) (35,548)
Property taxes - debt service
Current year 1,762,700 1,762,700 1,840,888 1,833,820
Prior year - - (32,783) (24,962)
Property taxes - police and firefighters'
pension 6,254,932 6,254,932 6,331,880 6,561,211
Property taxes - other Village pensions 1,656,602 1,656,602 1,724,746 1,696,119
Total property taxes 11,741,963 11,741,963 11,892,712 11,550,920
Other taxes
Utility taxes
Natural gas 1,432,739 1,432,739 1,331,886 1,052,210
Electricty 2,193,933 2,193,933 2,137,495 2,249,217
Telecommunications 1,837,313 1,837,313 1,841,387 2,000,427
Hotel room tax 967,408 967,408 1,030,331 973,344
Amusement tax 90,000 90,000 109,304 110,333
Home rule sales tax 8,349,023 8,349,023 8,401,525 7,948,198
Business district tax 30,000 30,000 32,938 31,539
Miscellaneous tax 1,000 1,000 990 2,410
Total other taxes 14,901,416 14,901,416 14,885,856 14,367,678
Total local taxes 26,643,379 26,643,379 26,778,568 25,918,598
LICENSES AND PERMITS
Business licenses 40,000 40,000 28,845 82,698
Liquor licenses 200,000 200,000 130,154 218,192
Building permits 2,160,000 2,160,000 2,018,060 1,655,398
Contractor's fees 50,000 50,000 26,203 54,933
Engineering fees - - 211,959 51,551
Oversized vehicle permits 16,000 16,000 28,365 17,835
Plan fees 10,000 10,000 8,107 7,931
Total licenses and permits 2,476,000 2,476,000 2,451,693 2,088,538
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF REVENUES AND OTHER FINANCING SOURCES
For the Year Ended December 31, 2017
2017
Budgeted Amounts
Page 117
BUDGET AND ACTUAL - GENERAL FUND
With Comparative Actual Amounts for the Year Ended December 31, 2016
2016
Original Final Actual Actual
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF REVENUES AND OTHER FINANCING SOURCES
For the Year Ended December 31, 2017
2017
Budgeted Amounts
CHARGES FOR SERVICES
Dog impound fees 1,000$ 1,000$ 1,900$ 1,065$
Lease fees 809,579 809,579 867,075 770,190
Natural gas franchise fees 42,447 42,447 39,915 42,447
Cable franchise fees 750,000 750,000 848,675 826,696
Bidder fees 3,000 3,000 960 2,040
Development fees 198,006 198,006 164,605 3,314
Insurance reimbursements 1,719,133 1,719,133 1,899,511 1,761,370
Copies 4,000 4,000 1,553 3,481
Special event fees 1,000 1,000 975 1,275
Inspection fees 41,000 41,000 34,640 16,320
Refuse and recycling charges
Bin sales 1,000 1,000 - 529
Yard waste sticker sales 5,150 5,150 3,600 3,299
Tipping fees 850,000 850,000 892,642 848,417
SW ANCC recycling incentive - - 7,926 -
Joint dispatch charges
911 surcharge 635,000 635,000 630,405 638,649
Wireless 911 surcharge - - - 9,718
Fire communication sub. service 15,889 15,889 15,889 15,889
Dispatch services 6,162,855 6,162,855 6,473,054 4,463,728
Other service charges
Police extra duty 203,693 203,693 204,675 182,200
Reimbursements 70,000 70,000 76,980 118,574
Other charges - Supervision 7,834 7,834 6,937 5,681
Annexation fee - - - 8,349
Miscellaneous 59,939 59,939 56,739 68,487
Administrative fees for governmental funds
Library Fund 130,000 130,000 116,426 128,370
SW ANCC host community fees 85,000 85,000 114,118 110,696
Total charges for services 11,795,525 11,795,525 12,459,200 10,030,784
FINES AND FORFEITURES
Traffic fines 105,017 105,017 105,675 97,293
Other fines 57,340 57,340 105,917 111,769
Total fines and forfeitures 162,357 162,357 211,592 209,062
Page 118
BUDGET AND ACTUAL - GENERAL FUND
With Comparative Actual Amounts for the Year Ended December 31, 2016
2016
Original Final Actual Actual
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF REVENUES AND OTHER FINANCING SOURCES
For the Year Ended December 31, 2017
2017
Budgeted Amounts
INTERGOVERNMENTAL
Glenbrook Fire Protection District 2,279,937$ 2,279,937$ 3,446,197$ 2,342,799$
Village of Golf fire protection services 164,000 164,000 170,797 164,228
Road and bridge taxes
Current year 389,500 389,500 406,913 453,380
Prior year - - (6,499) (3,595)
Sales tax 16,668,443 16,668,443 17,223,884 16,189,240
Property replacement tax 180,000 180,000 248,714 214,012
Illinois income tax 4,647,968 4,647,968 4,075,812 4,293,596
Local use tax 1,060,765 1,060,765 1,172,235 1,085,498
Make-whole payment 1,522,313 1,522,313 1,559,393 1,424,994
Other intergovernmental grant proceeds - - 265,137 -
Total intergovernmental 26,912,926 26,912,926 28,562,583 26,164,152
INVESTMENT INCOME
Investment income 65,000 65,000 225,985 88,950
Interest - savings 75,000 75,000 106,477 76,024
Total investment income 140,000 140,000 332,462 164,974
OTHER FINANCING SOURCES
Transfers in
North Maine W ater and Sewer Fund - - - 156,338
Wholesale W ater Fund 325,000 325,000 325,000 306,500
Special Tax Allocation Fund 308,798 308,798 308,798 277,288
Insurance and Risk Fund 403,917 403,917 403,917 250,000
Capital Projects Fund - - - 200,000
Coporate Purpose Bonds Fund - - 2,970 11,917
Escrow Deposit Fund 1,000 1,000 - -
Total other financing sources 1,038,715 1,038,715 1,040,685 1,202,043
Total revenues and other financing
sources 69,168,902$ 69,168,902$ 71,836,783$ 65,778,151$
Page 119
BUDGET AND ACTUAL - GENERAL FUND
With Comparative Actual Amounts for the Year Ended December 31, 2016
2016
Original Final Actual Actual
GENERAL GOVERNMENT
Village Board of Trustees
President and Board
Personnel 8,720$ 8,720$ 8,757$ 8,767$
Contractual services 48,000 47,925 39,943 40,592
Commodities 350 12,649 12,456 379
Total President and Board 57,070 69,294 61,156 49,738
Special board appropriations
Personnel 73,042 73,042 65,587 40,794
Contractual services 293,483 293,483 286,478 298,930
Commodities 18,000 18,000 17,910 -
Total special board appropriations 384,525 384,525 369,975 339,724
Total Village Board of Trustees 441,595 453,819 431,131 389,462
Village Manager's office
Administration division
Personnel 731,817 694,338 694,330 859,236
Contractual services 55,498 80,498 44,861 105,346
Other charges 9,100 9,100 4,862 12,505
Total administration division 796,415 783,936 744,053 977,087
Human resources division
Personnel 216,189 274,201 290,772 235,154
Contractual services 68,845 93,845 94,669 103,460
Commodities 1,500 1,500 652 1,149
Other charges 1,572,407 1,547,407 1,492,010 1,644,510
Total human resources division 1,858,941 1,916,953 1,878,103 1,984,273
Communications division
Personnel 152,473 152,473 172,729 152,406
Contractual services 110,375 110,375 79,758 67,955
Commodities 2,410 2,410 2,159 1,942
Other charges 1,900 1,900 363 1,195
Total communications division 267,158 267,158 255,009 223,498
Legal
Contractual services 522,169 595,169 564,008 523,752
Total legal 522,169 595,169 564,008 523,752
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF EXPENDITURES AND OTHER FINANCING USES
For the Year Ended December 31, 2017
2017
Budgeted Amounts
Page 120
BUDGET AND ACTUAL - GENERAL FUND
With Comparative Actual Amounts for the Year Ended December 31, 2016
2016
Original Final Actual Actual
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF EXPENDITURES AND OTHER FINANCING USES
For the Year Ended December 31, 2017
2017
Budgeted Amounts
GENERAL GOVERNMENT (cont.)
Village Manager's office (cont.)
Joint Dispatch division
Personnel 5,274,810$ 5,292,808$ 5,029,056$ 4,512,376$
Contractual services 226,720 226,720 230,512 160,445
Commodities 33,050 33,050 26,093 28,791
Other charges 263,397 456,861 442,596 208,977
Total joint dispatch division 5,797,977 6,009,439 5,728,257 4,910,589
Total Village Manager's office 9,242,660 9,572,655 9,169,430 8,619,199
Administration services
Administration division
Personnel 355,489 369,200 382,339 384,519
Contractual services 1,980 1,980 2,344 2,746
Other charges 10,060 10,060 9,928 3,296
Total administration division 367,529 381,240 394,611 390,561
Finance
Personnel 691,867 730,817 654,039 720,059
Contractual services 1,025,592 1,025,592 1,023,168 983,586
Commodities 800 800 - 122
Other charges 14,905 14,905 1,074 5,342
Total finance 1,733,164 1,772,114 1,678,281 1,709,109
General government
Personnel 333,800 17,442 - -
Contractual services 3,133,135 3,133,135 2,991,330 2,892,285
Commodities 55,257 55,257 49,368 51,963
Other charges 452,637 272,817 7,323 (44,320)
Total general government 3,974,829 3,478,651 3,048,021 2,899,928
Resolution center
Personnel 361,778 361,778 359,256 373,526
Contractual services 59,093 59,093 44,307 52,546
Other charges 1,300 1,300 - 156
Total resolution center 422,171 422,171 403,563 426,228
Page 121
BUDGET AND ACTUAL - GENERAL FUND
With Comparative Actual Amounts for the Year Ended December 31, 2016
2016
Original Final Actual Actual
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF EXPENDITURES AND OTHER FINANCING USES
For the Year Ended December 31, 2017
2017
Budgeted Amounts
GENERAL GOVERNMENT (cont.)
Administration services (cont.)
CADD operation
Personnel 93,259 93,259 66,438 93,799
Contractual services 202,908 202,908 198,240 191,701
Other charges 180 180 285 -
Total CADD operations 296,347 296,347 264,963 285,500
Information technology (IT)
Contractual services 2,270,471$ 2,279,556$ 1,932,077$ 2,048,722$
Commodities 130,537 130,537 86,595 202,501
Other charges 429,119 429,119 411,965 328,819
Total information technology 2,830,127 2,839,212 2,430,637 2,580,042
Total administration services 9,624,167 9,189,735 8,220,076 8,291,368
Total general government 19,308,422 19,216,209 17,820,637 17,300,029
PUBLIC WORKS
Public works department
Personnel 3,196,167 3,259,919 3,076,630 3,178,907
Contractual services 3,230,698 3,250,149 3,061,972 3,055,288
Commodities 1,293,127 1,287,741 1,274,673 1,373,804
Other charges 1,278,190 1,278,190 1,032,751 990,792
Capital outlay 310,000 310,000 309,973 275,000
Total public works department 9,308,182 9,385,999 8,755,999 8,873,791
PUBLIC SAFETY
Police department
Personnel 9,601,349 9,690,512 9,665,667 9,522,986
Contractual services 635,143 654,275 644,730 666,406
Commodities 130,918 127,815 115,971 123,360
Other charges 2,994,160 3,003,831 2,892,060 3,088,486
Total police department 13,361,570 13,476,433 13,318,428 13,401,238
Fire department
Personnel 10,570,970 10,590,309 10,507,745 10,552,886
Contractual services 295,546 295,546 258,063 315,445
Commodities 223,971 223,971 210,591 207,393
Other charges 5,046,161 5,046,161 5,164,048 5,030,018
Total fire department 16,136,648 16,155,987 16,140,447 16,105,742
Total public safety 29,498,218 29,632,420 29,458,875 29,506,980
Page 122
BUDGET AND ACTUAL - GENERAL FUND
With Comparative Actual Amounts for the Year Ended December 31, 2016
2016
Original Final Actual Actual
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF EXPENDITURES AND OTHER FINANCING USES
For the Year Ended December 31, 2017
2017
Budgeted Amounts
COMMUNITY DEVELOPMENT
Community Development department
Administration
Personnel 186,358$ 199,416$ 183,382$ 319,412$
Contractual services 30,700 32,200 23,402 34,335
Commodities 1,750 250 48 2,688
Other charges 16,144 16,144 12,149 20,268
Total administration 234,952 248,010 218,981 376,703
Inspection services
Personnel 820,725 829,215 831,198 840,699
Contractual services 862,050 862,050 852,412 826,807
Commodities 5,450 5,450 5,207 4,052
Other charges 44,909 44,909 33,853 27,035
Total inspection services 1,733,134 1,741,624 1,722,670 1,698,593
Planning
Personnel 481,244 487,096 498,655 480,466
Contractual services 110,380 140,131 138,344 221,371
Commodities - - 49 337
Other charges 27,050 27,050 30,135 23,384
Total planning 618,674 654,277 667,183 725,558
Engineering
Personnel 303,035 304,211 263,789 291,951
Contractual services 331,150 331,150 339,532 340,941
Commodities 400 400 323 -
Other charges 12,899 12,899 8,705 13,380
Total engineering 647,484 648,660 612,349 646,272
Capital projects
Personnel 256,381 271,714 285,302 262,588
Contractual services 1,225 1,225 - -
Commodities 630 630 596 -
Other charges 2,228 2,228 431 -
Total capital projects 260,464 275,797 286,329 262,588
Total community development 3,494,708 3,568,368 3,507,512 3,709,714
Total current expenditures 61,609,530 61,802,996 59,543,023 59,390,514
Page 123
BUDGET AND ACTUAL - GENERAL FUND
With Comparative Actual Amounts for the Year Ended December 31, 2016
2016
Original Final Actual Actual
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF EXPENDITURES AND OTHER FINANCING USES
For the Year Ended December 31, 2017
2017
Budgeted Amounts
CAPITAL OUTLAY
Machinery and equipment 750,000$ 750,000$ 725,398$ 27,426$
Total expenditures 62,359,530 62,552,996 60,268,421 59,417,940
OTHER FINANCING USES
Transfers out
Corporate Purpose Debt Service Fund 2,187,882 2,187,882 2,225,970 2,238,583
Capital Projects Fund 5,000,000 5,000,000 5,073,846 4,870,154
Total other financing uses 7,187,882 7,187,882 7,299,816 7,108,737
Total expenditures and other financing
sources 69,547,412$ 69,740,878$ 67,568,237$ 66,526,677$
Page 124
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.
VILLAGE OF GLENVIEW
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
As of December 31, 2017
Motor Fuel
Tax Fund
Foreign Fire
Insurance
Fund
Police
Department
Special
Account Fund
Waukegan
Golf TIF Fund
AS SETS
Cash and cash equivalents $576,543 $264,319 $35,840 $1,764,524
Investments 1,246,484 ---
Receivables
Accounts ----
Grants ----
Other 7,358 ---
Accrued interest ----
Due from other governments 98,754 ---
TOTAL ASSETS $1,929,139 $264,319 $35,840 $1,764,524
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES
Liabilities
Accounts payable $161,041 $13,940 $-$134,123
Accrued payroll ---288
Other payables 26,595 ---
Due to other funds ----
Total Liabilities 187,636 13,940 -134,411
Deferred Inflows of Resources
Unavailable grant revenue ----
Total Deferred Inflows of Resources ----
Fund Balances (Deficit)
Restricted for street improvements 1,741,503 ---
Restricted for public safety -250,379 35,840 -
Restricted for economic development ---1,630,113
Assigned to debt service funds ----
Assigned to capital project funds ----
Unassigned ----
Total Fund Balances (deficit)1,741,503 250,379 35,840 1,630,113
TOTAL LIABILITIES,
DEFERRED INFLOWS OF
RESOURCES, AND FUND
BALANCES $1,929,139 $264,319 $35,840 $1,764,524
Page 125
Corporate
Purpose
Bonds Fund
Capital
Projects Fund
Glen Capital
Projects Fund
Total
Nonmajor
Governmental
Funds
$403,331 $1,673,188 $411,173 $5,128,918
--823,485 2,069,969
-250,000 -250,000
-166,430 437 166,867
---7,358
--3,875 3,875
---98,754
$403,331 $2,089,618 $1,238,970 $7,725,741
$-$1,154,843 $25,423 $1,489,370
---288
-298,867 77,872 403,334
2,970 1,501,131 -1,504,101
2,970 2,954,841 103,295 3,397,093
-16,115 437 16,552
-16,115 437 16,552
---1,741,503
---286,219
---1,630,113
400,361 --400,361
--1,135,238 1,135,238
-(881,338)-(881,338)
400,361 (881,338)1,135,238 4,312,096
$403,331 $2,089,618 $1,238,970 $7,725,741
Page 126
VILLAGE OF GLENVIEW
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
For the Year Ended December 31, 2017
Motor Fuel
Tax Fund
Foreign Fire
Insurance
Fund
Police
Department
Special
Account Fund
Waukegan
Golf TIF Fund
REVENUES
Property taxes $-$-$-$1,255,320
Intergovernmental 1,995,052 117,564 --
Investment income 19,857 2,119 346 18,289
Miscellaneous -103 2,233 -
Total Revenues 2,014,909 119,786 2,579 1,273,609
EXPENDITURES
Current
Public safety -119,561 --
Development ---114,139
Capital Outlay 1,724,514 ---
Debt Service
Principal ---585,000
Interest and fiscal charges ---116,833
Total Expenditures 1,724,514 119,561 -815,972
Excess (deficiency) of revenues over
expenditures 290,395 225 2,579 457,637
OTHER FINANCING SOURCES (USES)
Transfers in ----
Transfers out ----
Total Other Financing Sources (Uses)----
Net Change in Fund Balances 290,395 225 2,579 457,637
FUND BALANCES - Beginning of Year 1,451,108 250,154 33,261 1,172,476
FUND BALANCES (DEFICIT) -
END OF YEAR $1,741,503 $250,379 $35,840 $1,630,113
Page 127
Corporate
Purpose
Bonds Fund
Capital
Projects Fund
Glen Capital
Projects Fund
Total
Nonmajor
Governmental
Funds
$-$-$-$1,255,320
-333,072 33,596 2,479,284
9,122 415 12,416 62,564
-251,628 2,632 256,596
9,122 585,115 48,644 4,053,764
---119,561
---114,139
-10,403,668 330,893 12,459,075
1,540,000 24,371 -2,149,371
649,382 --766,215
2,189,382 10,428,039 330,893 15,608,361
(2,180,260)(9,842,924)(282,249)(11,554,597)
2,225,970 8,473,844 -10,699,814
(2,970)--(2,970)
2,223,000 8,473,844 -10,696,844
42,740 (1,369,080)(282,249)(857,753)
357,621 487,742 1,417,487 5,169,849
$400,361 $(881,338)$1,135,238 $4,312,096
Page 128
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCE - BUDGET AND ACTUAL - MOTOR FUEL TAX FUND - NONMAJOR SPECIAL REVENUE
FUND
For the Year Ended December 31, 2017
With Comparative Actual Amounts for the Year Ended December 31, 2016
2017
Budgeted Amounts
Original Final Actual
2016
Actual
REVENUES
Intergovenmental
Motor fuel tax $1,940,000 $1,940,000 $1,995,052 $1,607,065
Investment income 5,000 5,000 19,857 6,715
Total Revenues 1,945,000 1,945,000 2,014,909 1,613,780
EXPENDITURES
Capital Outlay 1,940,000 1,940,000 1,724,514 1,356,015
Total Expenditures 1,940,000 1,940,000 1,724,514 1,356,015
Net Change in Fund Balance $5,000 $5,000 290,395 257,765
FUND BALANCE - Beginning of Year 1,451,108 1,193,343
FUND BALANCE - END OF YEAR $1,741,503 $1,451,108
Page 129
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCE - BUDGET AND ACTUAL - FOREIGN FIRE INSURANCE FUND - NONMAJOR SPECIAL
REVENUE FUND
For the Year Ended December 31, 2017
With Comparative Actual Amounts for the Year Ended December 31, 2016
2017
Budgeted Amounts
Original Final Actual
2016
Actual
REVENUES
Intergovernmental $90,000 $90,000 $117,564 $111,630
Investment income 800 800 2,119 1,620
Miscellaneous --103 -
Total Revenues 90,800 90,800 119,786 113,250
EXPENDITURES
Public safety
Contractual services 10,830 10,830 12,540 12,266
Commodities 99,170 99,170 107,021 81,839
Total Expenditures 110,000 110,000 119,561 94,105
Net Change in Fund Balance $(19,200)$(19,200)225 19,145
FUND BALANCE - Beginning of Year 250,154 231,009
FUND BALANCE - END OF YEAR $250,379 $250,154
Page 130
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCE - BUDGET AND ACTUAL - POLICE DEPARTMENT SPECIAL ACCOUNT FUND -
NONMAJOR SPECIAL REVENUE FUND
For the Year Ended December 31, 2017
With Comparative Actual Amounts for the Year Ended December 31, 2016
2017
Budgeted Amounts
Original Final Actual
2016
Actual
REVENUES
Investment income $155 $155 $346 $284
Other revenues --2,233 -
Total Revenues 155 155 2,579 284
EXPENDITURES
Capital Outlay 32,137 32,137 -34
Total Expenditures 32,137 32,137 -34
Net Change in Fund Balance $(31,982)$(31,982)2,579 250
FUND BALANCE - Beginning of Year 33,261 33,011
FUND BALANCE - END OF YEAR $35,840 $33,261
Page 131
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCE - BUDGET AND ACTUAL - W AUKEGAN GOLF TIF FUND - NONMAJOR SPECIAL
REVENUE FUND
For the Year Ended December 31, 2017
With Comparative Actual Amounts for the Year Ended December 31, 2016
2017
Budgeted Amounts
Original Final Actual
2016
Actual
REVENUES
Property taxes - incremental $915,582 $915,582 $1,255,320 $859,557
Investment income 600 600 18,289 7,774
Total Revenues 916,182 916,182 1,273,609 867,331
EXPENDITURES
Community development
Personnel 8,323 8,323 8,306 8,150
Contractual services 129,779 129,779 105,833 29,909
Total community development 138,102 138,102 114,139 38,059
Debt service
Principal 585,000 585,000 585,000 -
Interest and fiscal charges 116,833 116,833 116,833 116,833
Capital Outlay ---277,087
Total Expenditures 839,935 839,935 815,972 431,979
Net Change in Fund Balance $76,247 $76,247 457,637 435,352
FUND BALANCE - Beginning of Year 1,172,476 737,124
FUND BALANCE - END OF YEAR $1,630,113 $1,172,476
Page 132
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCE - BUDGET AND ACTUAL - CORPORATE PURPOSE BONDS FUND - NONMAJOR DEBT
SERVICE FUND
For the Year Ended December 31, 2017
With Comparative Actual Amounts for the Year Ended December 31, 2016
2017
Budgeted Amounts
Original Final Actual
2016
Actual
REVENUES
Investment income $ 2,605 $ 2,605 $ 9,122 $ 5,722
Total Revenues 2,605 2,605 9,122 5,722
EXPENDITURES
Debt service
Principal 1,540,000 1,540,000 1,540,000 1,490,000
Interest and fiscal charges 649,382 649,382 649,382 704,084
Total Expenditures 2,189,382 2,189,382 2,189,382 2,194,084
Deficiency of revenues under
expenditures (2,186,777)(2,186,777)(2,180,260)(2,188,362)
OTHER FINANCING SOURCES
(USES)
Transfers in
General Fund 2,187,882 2,187,882 2,225,970 2,238,583
Transfers out
General Fund --(2,970)(11,917)
Total Other Financing Sources
(Uses)2,187,882 2,187,882 2,223,000 2,226,666
Net Change in Fund Balance $ 1,105 $ 1,105 42,740 38,304
FUND BALANCE - Beginning of Year 357,621 319,317
FUND BALANCE - END OF YEAR $ 400,361 $ 357,621
Page 133
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCE - BUDGET AND ACTUAL - CAPITAL PROJECTS FUND - NONMAJOR CAPITAL
PROJECTS FUND
For the Year Ended December 31, 2017
With Comparative Actual Amounts for the Year Ended December 31, 2016
2017
Budgeted Amounts
Original Final Actual
2016
Actual
REVENUES
Intergovernmental - grants $ 412,665 $ 412,665 $ 333,072 $ 1,131,268
Investment income 3,250 3,250 415 3,725
Other revenues - - - 2,311,188
Development - other revenues 250,000 250,000 251,628 189,036
Total Revenues 665,915 665,915 585,115 3,635,217
EXPENDITURES
Community development
Contractual services - - - 173,916
Other charges ---2,467
Total community development ---176,383
Capital Outlay 9,166,213 11,137,194 10,403,668 7,299,829
Debt service
Principal 24,371 24,371 24,371 24,371
Total Expenditures 9,190,584 11,161,565 10,428,039 7,500,583
Deficiency of revenues under
expenditures (8,524,669)(10,495,650)(9,842,924)(3,865,366)
OTHER FINANCING SOURCES
(USES)
Transfers in
General Fund 5,000,000 5,000,000 5,073,846 4,870,154
Wholesale Water Fund 524,398 524,398 524,398 509,124
Village Permanent Fund 2,625,600 2,625,600 2,875,600 1,107,697
Transfers out
General Fund - - -(200,000)
Village Permanent Fund ---(2,225,832)
Total Other Financing Sources
(Uses)8,149,998 8,149,998 8,473,844 4,061,143
Net Change in Fund Balance $ (374,671)$ (2,345,652)(1,369,080)195,777
FUND BALANCE - Beginning of Year 487,742 291,965
FUND BALANCE (DEFICIT) - END
OF YEAR $ (881,338)$ 487,742
Page 134
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCE - BUDGET AND ACTUAL - GLEN CAPITAL PROJECTS FUND - NONMAJOR CAPITAL
PROJECTS FUND
For the Year Ended December 31, 2017
With Comparative Actual Amounts for the Year Ended December 31, 2016
2017
Budgeted Amounts
Original Final Actual
2016
Actual
REVENUES
Intergovernmental - grants $-$-$33,596 $51,216
Investment income 760 760 12,416 5,324
Development - other revenues 2,894 2,894 2,632 3,050
Total Revenues 3,654 3,654 48,644 59,590
EXPENDITURES
Capital Outlay 273,006 786,668 330,893 4,317,494
Total Expenditures 273,006 786,668 330,893 4,317,494
Net Change in Fund Balance $(269,352)$(783,014)(282,249)(4,257,904)
FUND BALANCE - Beginning of Year 1,417,487 5,675,391
FUND BALANCE - END OF YEAR $1,135,238 $1,417,487
Page 135
GOVERNMENTAL FUND DESCRIPTIONS
MAJOR CAPITAL PROJECTS FUND
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
DETAILED SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCE - BUDGET AND ACTUAL - VILLAGE PERMANENT FUND - MAJOR CAPITAL PROJECTS
FUND
For the Year Ended December 31, 2017
With Comparative Actual Amounts for the Year Ended December 31, 2016
2017
Budgeted Amounts
Original Final Actual
2016
Actual
REVENUES
Lease fees $156,000 $156,000 $-$-
Investment income 39,036 39,036 265,136 159,325
Other revenues --4,800 -
Total Revenues 195,036 195,036 269,936 159,325
EXPENDITURES
Community development
Contractual services 95,000 95,000 82,858 67,977
Total Expenditures 95,000 95,000 82,858 67,977
Excess of revenues over
expenditures 100,036 100,036 187,078 91,348
OTHER FINANCING SOURCES
(USES)
Property sales 2,620,000 2,620,000 2,461,000 -
Transfers In
Capital Projects Fund ---2,225,832
Transfers Out
Capital Projects Fund (2,625,600)(2,888,100)(2,875,600)(1,107,697)
Glenview Sanitary Sewer Fund (61,250)(61,250)(47,119)-
Total Other Financing Sources
(Uses)(66,850)(329,350)(461,719)1,118,135
Net Change in Fund Balance $33,186 $(229,314)(274,641)1,209,483
FUND BALANCE - Beginning of Year 29,078,693 27,869,210
FUND BALANCE - END OF YEAR $28,804,052 $29,078,693
Page 136
ENTERPRISE FUND DESCRIPTIONS
Enterprise funds are proprietary funds established to account for the financing of self-supporting activities
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.
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.
VILLAGE OF GLENVIEW
COMBINING STATEMENT OF NET POSITION
NONMAJOR ENTERPRISE FUNDS
As of December 31, 2017
Wholesale
Water Fund
Commuter
Parking Lot
Fund
Total Nonmajor
Enterprise
Funds
ASSETS
Current Assets
Cash and cash equivalents $340,043 $534,934 $874,977
Investments 249,062 1,249,099 1,498,161
Receivables
Accounts 509,582 -509,582
Accrued interest 164 5,697 5,861
Total Current Assets 1,098,851 1,789,730 2,888,581
Noncurrent Assets
Capital Assets
Land -500,000 500,000
Buildings and improvements -2,727,816 2,727,816
Machinery, equipment and furnishings -13,283 13,283
Water system 2,512,633 -2,512,633
Less: Accumulated depreciation (1,556,696)(967,997)(2,524,693)
Total Noncurrent Assets 955,937 2,273,102 3,229,039
Total Assets 2,054,788 4,062,832 6,117,620
LIABILITIES
Current Liabilities
Accounts payable 158,171 28,108 186,279
Accrued payroll 5,174 1,762 6,936
Other payables -10,563 10,563
Compensated absences - current 695 -695
Total Current Liabilities 164,040 40,433 204,473
Noncurrent Liabilities
Long-Term Debt
Compensated absences 2,779 -2,779
Total Noncurrent Liabilities 2,779 -2,779
Total Liabilities 166,819 40,433 207,252
NET POSITION
Net investment in capital assets 955,937 2,273,102 3,229,039
Unrestricted 932,032 1,749,297 2,681,329
TOTAL NET POSITION $1,887,969 $4,022,399 $5,910,368
Page 137
NONMAJOR ENTERPRISE FUNDS
Commuter Total Nonmajor
W holesale Parking Lot Enterprise
Water Fund Fund Funds
Operating revenues
Charges for sales and services
Parking meter fees -$ 242,861$ 242,861$
Parking decals - 403,363 403,363
Water charges 2,361,124 - 2,361,124
Total charges for sales and services 2,361,124 646,224 3,007,348
Miscellaneous revenue - 247,354 247,354
Total operating revenues 2,361,124 893,578 3,254,702
Operating expenses
Operations 1,330,514 407,525 1,738,039
Depreciation and amortization 62,816 81,907 144,723
Total operating expenses 1,393,330 489,432 1,882,762
Operating income 967,794 404,146 1,371,940
Non-operating revenues
Investment income 1,505 7,563 9,068
Total non-operating revenues 1,505 7,563 9,068
Net income before transfers 969,299 411,709 1,381,008
TRANSFERS
Transfers out (849,398) - (849,398)
Change in net position 119,901 411,709 531,610
NET POSITION - Beginning of Year 1,768,068 3,610,690 5,378,758
NET POSITION - END OF YEAR 1,887,969$ 4,022,399$ 5,910,368$
VILLAGE OF GLENVIEW
COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION
As of December 31, 2017
Page 138
VILLAGE OF GLENVIEW
COMBINING STATEMENT OF CASH FLOW S
NONMAJOR ENTERPRISE FUNDS
For the Year Ended December 31, 2017
Wholesale
Water Fund
Commuter
Parking Lot
Fund Totals
CASH FLOWS FROM OPERATING ACTIVITIES
Received from customers $2,369,406 $893,678 $3,263,084
Paid to suppliers for goods and services (1,184,024)(526,136)(1,710,160)
Paid to employees for services (83,805)-(83,805)
Net Cash Flows From Operating Activities 1,101,577 367,542 1,469,119
CASH FLOWS FROM INVESTING ACTIVITIES
Investment income 1,341 1,866 3,207
Purchase of investments (249,062)(1,249,100)(1,498,162)
Net Cash Flows From Investing Activities (247,721)(1,247,234)(1,494,955)
CASH FLOWS FROM NONCAPITAL FINANCING
AC TIVITIES
Transfers out (849,398)-(849,398)
Net Cash Flows From Noncapital Financing Activities (849,398)-(849,398)
CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES
Acquisition and construction of capital assets -(52,372)(52,372)
Net Cash Flows From Capital and Related Financing
Activities -(52,372)(52,372)
Net Change in Cash and Cash Equivalents 4,458 (932,064)(927,606)
CASH AND CASH EQUIVALENTS - Beginning of Year 335,585 1,466,998 1,802,583
CASH AND CASH EQUIVALENTS - END OF YEAR $340,043 $534,934 $874,977
RECONCILIATION OF OPERATING INCOME TO NET
CASH FLOWS FROM OPERATING ACTIVITIES
Operating income $967,794 $404,146 $1,371,940
Adjustments to Reconcile Operating Income to Net Cash
Flows From Operating Activities
Depreciation 62,816 81,907 144,723
Changes in assets and liabilities
Accounts receivable 8,282 100 8,382
Accounts payable 57,542 (118,611)(61,069)
Accrued salaries 1,669 -1,669
Compensated absences payable 3,474 -3,474
NET CASH FLOWS FROM OPERATING
AC TIVITIES $1,101,577 $367,542 $1,469,119
NONCASH CAPITAL AND RELATED FINANCING
AC TIVITIES
None
Page 139
WHOLESALE WATER FUND - NONMAJOR ENTERPRISE FUND
With Comparative Actual Amounts for the Year Ended December 31, 2016
2016
Original Final Actual Actual
Operating revenues
Charges for sales and services
Water charges 2,198,389$ 2,198,389$ 2,361,124$ 2,075,114$
Total operating revenue 2,198,389 2,198,389 2,361,124 2,075,114
Miscellaneous revenue
Other 20,000 20,000 - -
Total miscellaneous revenue 20,000 20,000 - -
Total operating revenues 2,218,389 2,218,389 2,361,124 2,075,114
Operating expenses
Water services
Personnel 99,842 99,842 88,948 92,105
Contractual services 1,217,160 1,215,960 1,206,987 1,092,740
Commodities 16,650 17,850 19,084 10,813
Other charges 15,495 15,495 15,495 17,774
Total operating expenses 1,349,147 1,349,147 1,330,514 1,213,432
Operating income 869,242 869,242 1,030,610 861,682
Non-operating revenues
Investment income 150 150 1,505 80
Total non-operating revenues 150 150 1,505 80
Net income before transfers 869,392 869,392 1,032,115 861,762
Transfers out
General Fund (325,000) (325,000) (325,000) (306,500)
Capital Projects Fund (524,398) (524,398) (524,398) (509,124)
Total Other Financing Sources (Uses)(849,398) (849,398) (849,398) (815,624)
Change in net position - budgetary basis 19,994$ 19,994$ 182,717 46,138
Adjustments to GAAP basis
Depreciation and amortization (62,816) (62,816)
Change in net position - GAAP basis 119,901 (16,678)
NET POSITION - Beginning of Year 1,768,068 1,784,746
NET POSITION - END OF YEAR 1,887,969$ 1,768,068$
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF REVENUES, EXPENSES AND CHANGES IN NET POSITION - BUDGET AND ACTUAL (Budgetary Basis)
For the Year Ended December 31, 2017
2017
Budgeted Amount
Page 140
COMMUTER PARKING LOT FUND - NONMAJOR ENTERPRISE FUND
With Comparative Actual Amounts for the Year Ended December 31, 2016
2016
Original Final Actual Actual
Operating revenues
Charges for sales and services
Parking meter fees 227,219$ 227,219$ 242,861$ 242,192$
Parking decals 387,530 387,530 403,363 386,940
Total charges for sales and services 614,749 614,749 646,224 629,132
Miscellaneous revenue
Vendor lease rental fee 9,750 9,750 8,845 11,250
Other revenues - - 238,509 -
Total miscellaneous revenue 9,750 9,750 247,354 11,250
Total operating revenues 624,499 624,499 893,578 640,382
Operating expenses
Water services
Contractual services 228,127 228,127 179,031 210,841
Commodities 70,741 70,741 51,529 68,829
Other charges 140,592 140,592 140,596 5,708
Capital outlay 69,713 111,522 88,741 191,197
Total operating expenses 509,173 550,982 459,897 476,575
Operating income 115,326 73,517 433,681 163,807
Non-operating revenues
Investment income 465 465 7,563 625
Total non-operating revenues 465 465 7,563 625
Change in net position - budgetary basis 115,791$ 73,982$ 441,244 164,432
Adjustments to GAAP basis
Acquisition of capital assets 52,372 122,796
Depreciation and amortization (81,907) (74,900)
Change in net position - GAAP basis 411,709 212,328
NET POSITION - Beginning of Year 3,610,690 3,398,362
NET POSITION - END OF YEAR 4,022,399$ 3,610,690$
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF REVENUES, EXPENSES AND CHANGES IN NET POSITION - BUDGET AND ACTUAL (Budgetary Basis)
For the Year Ended December 31, 2017
2017
Budgeted Amount
Page 141
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.
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.
GLENVIEW WATER FUND - MAJOR ENTERPRISE FUND
With Comparative Actual Amounts for the Year Ended December 31, 2016
2016
Original Final Actual Actual
Operating revenues
Charges for sales and services
Water charges 13,633,365$ 13,633,365$ 14,218,250$ 13,177,100$
Water connection charges 125,000 125,000 128,332 151,509
Water meter and remote readers 2,800 2,800 5,830 3,740
Total charges for sales and services 13,761,165 13,761,165 14,352,412 13,332,349
Miscellaneous revenue
Late payment fees 155,000 155,000 168,985 173,217
Water for construction 3,000 3,000 53,202 4,835
Other 75,106 75,106 49,749 765,694
Total miscellaneous revenue 233,106 233,106 271,936 943,746
Total operating revenues 13,994,271 13,994,271 14,624,348 14,276,095
Operating expenses
Water services
Personnel 2,431,944 2,431,944 2,436,699 2,520,164
Contractual services 5,516,403 5,501,403 5,060,772 6,556,269
Commodities 879,097 894,097 765,429 2,540,470
Other charges 862,396 862,396 769,857 564,952
Capital outlay 4,360,662 4,971,333 4,597,956 5,609,421
Total operating expenses 14,050,502 14,661,173 13,630,713 17,791,276
Operating income (loss)(56,231) (666,902) 993,635 (3,515,181)
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF REVENUES, EXPENSES AND CHANGES IN NET POSITION - BUDGET AND ACTUAL (Budgetary Basis)
For the Year Ended December 31, 2017
2017
Budgeted Amount
Page 142
GLENVIEW WATER FUND - MAJOR ENTERPRISE FUND
With Comparative Actual Amounts for the Year Ended December 31, 2016
2016
Original Final Actual Actual
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF REVENUES, EXPENSES AND CHANGES IN NET POSITION - BUDGET AND ACTUAL (Budgetary Basis)
For the Year Ended December 31, 2017
2017
Budgeted Amount
Non-operating revenues (expenses)
Investment income 6,015$ 6,015$ 8,124$ 7,215$
Issuance of debt - - - 3,872,432
Debt service
Principal (240,000) (240,000) (281,289) (402,481)
Interest and fiscal charges (109,216) (109,216) (103,992) (90,514)
Total non-operating revenues (expenses)(343,201) (343,201) (377,157) 3,386,652
Net income (loss) before transfers (399,432) (1,010,103) 616,478 (128,529)
Transfers in
North Maine Water and Sewer Fund - - - 651,952
Glenview Sanitary Sewer Fund - - 56,258 9,377
Total Transfers In - - 56,258 661,329
Change in net position - budgetary basis (399,432)$ (1,010,103)$ 672,736 532,800
Adjustments to GAAP basis
Acquisition of capital assets 1,964,362 2,805,627
Issuance of debt - (3,872,432)
Depreciation and amortization (1,348,105) (1,299,924)
Principal expense 281,289 402,481
Change in net position - GAAP basis 1,570,282 (1,431,448)
NET POSITION - Beginning of Year 34,542,554 35,974,002
NET POSITION - END OF YEAR 36,112,836$ 34,542,554$
Page 143
GLENVIEW SANITARY SEWER FUND - MAJOR ENTERPRISE FUND
With Comparative Actual Amounts for the Year Ended December 31, 2016
2016
Original Final Actual Actual
Operating revenues
Charges for sales and services
Sewer charges 2,400,737$ 2,400,737$ 2,414,525$ 2,322,170$
Sewer connection charges 8,000 8,000 8,760 10,380
Total charges for sales and services 2,408,737 2,408,737 2,423,285 2,332,550
Miscellaneous revenue
Other 70,644 70,644 73,192 237,202
Total miscellaneous revenue 70,644 70,644 73,192 237,202
Total operating revenues 2,479,381 2,479,381 2,496,477 2,569,752
Operating expenses
Sewerage services
Personnel 548,877 548,877 566,243 567,265
Contractual services 158,522 158,522 140,557 73,042
Commodities 43,851 43,851 43,183 41,719
Other charges 156,866 156,866 156,522 112,891
Capital outlay 1,510,451 1,791,055 1,114,768 1,614,741
Total operating expenses 2,418,567 2,699,171 2,021,273 2,409,658
Operating income (loss)60,814 (219,790) 475,204 160,094
Non-operating revenues (expenses)
Fines and fees 8,000 8,000 8,301 7,794
Heatherfield
Investment income 1,500 1,500 1,057 970
Debt service
Principal (60,000) (60,000) - (279,400)
Interest and fiscal charges (27,304) (27,304) (27,304) (27,077)
Total non-operating revenues (expenses) (77,804) (77,804) (17,946) (297,713)
Net income (loss) before transfers (16,990) (297,594) 457,258 (137,619)
Transfers in (out)
Village Permanent Fund 61,250 61,250 47,119 -
Glenview Water Fund - - (56,258) (9,377)
Total Transfers in (out)61,250 61,250 (9,139) (9,377)
Change in net position - budgetary basis 44,260$ (236,344)$ 448,119 (146,996)
Adjustments to GAAP basis
Acquisition of capital assets 242,938 592,087
Depreciation and amortization (487,354) (481,424)
Principal expense - 279,400
Change in net position - GAAP basis 203,703 243,067
NET POSITION - Beginning of Year 19,475,969 19,232,902
NET POSITION - END OF YEAR 19,679,672$ 19,475,969$
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF REVENUES, EXPENSES AND CHANGES IN NET POSITION - BUDGET AND ACTUAL (Budgetary Basis)
For the Year Ended December 31, 2017
2017
Budgeted Amount
Page 144
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.
VILLAGE OF GLENVIEW
COMBINING STATEMENT OF NET POSITION
INTERNAL SERVICE FUNDS
As of December 31, 2017
Capital
Equipment
Replacement
Fund
Municipal
Equipment
Repair Fund
Insurance and
Risk Fund
Facilities
Repair and
Replacement
Fund Totals
ASSETS
Current Assets
Cash and cash equivalents $787,012 $232,231 $911,456 $397,733 $2,328,432
Investments 4,469,462 -5,467,178 1,194,465 11,131,105
Receivables
Accounts (105)25,690 70,129 -95,714
Accrued interest 25,013 -32,674 7,203 64,890
Other --60,000 -60,000
Prepaid items --99,599 -99,599
Inventories -367,038 --367,038
Deposits --613,609 -613,609
Total Current Assets 5,281,382 624,959 7,254,645 1,599,401 14,760,387
Total Assets 5,281,382 624,959 7,254,645 1,599,401 14,760,387
LIABILITIES
Current Liabilities
Accounts payable 476,185 180,676 29,778 18,720 705,359
Accrued payroll -17,354 8,863 407 26,624
Other payables ---724 724
Due to other funds --16,265 -16,265
Claims payable --672,416 -672,416
Unearned revenues --20,624 -20,624
Total Current Liabilities 476,185 198,030 747,946 19,851 1,442,012
Noncurrent Liabilities
Claims payable --1,008,624 -1,008,624
Total Noncurrent Liabilities --1,008,624 -1,008,624
Total Liabilities 476,185 198,030 1,756,570 19,851 2,450,636
NET POSITION
Unrestricted 4,805,197 426,929 5,498,075 1,579,550 12,309,751
TOTAL NET POSITION $4,805,197 $426,929 $5,498,075 $1,579,550 $12,309,751
Page 145
VILLAGE OF GLENVIEW
COMBINING STATEMENT OF REVENUES, EXPENSES, AND
CHANGES IN NET POSITION
INTERNAL SERVICE FUNDS
For the Year Ended December 31, 2017
Capital
Equipment
Replacement
Fund (CERF)
Municipal
Equipment
Repair Fund
(MERF)
Insurance and
Risk Fund
Facilities
Repair and
Replacement
Fund (FRRF)Totals
OPERATING REVENUES
Charges for services $2,113,156 $1,196,425 $7,282,153 $1,186,469 $11,778,203
Miscellaneous 90 118,639 71,763 6,117 196,609
Total Operating Revenues 2,113,246 1,315,064 7,353,916 1,192,586 11,974,812
OPERATING EXPENSES
Personnel -415,375 574,639 -990,014
Contractual services -416,742 6,649,374 58,542 7,124,658
Commodities 189,695 191,995 513 -382,203
Other charges 105 316,798 --316,903
Capital outlay 814,205 103 -77,749 892,057
Total Operating Expenses 1,004,005 1,341,013 7,224,526 136,291 9,705,835
Operating Income (Loss)1,109,241 (25,949)129,390 1,056,295 2,268,977
NONOPERATING REVENUES
Investment income 44,590 27 242,252 7,688 294,557
Gain on sale of capital assets 97,900 ---97,900
Reassignment of capital assets (1,434,652)--(992,546)(2,427,198)
Total Nonoperating Revenues (1,292,162)27 242,252 (984,858)(2,034,741)
Income (Loss) Before Transfers (182,921)(25,922)371,642 71,437 234,236
TRANSFERS
Transfers out --(403,917)-(403,917)
Total Transfers --(403,917)-(403,917)
Change in net position (182,921)(25,922)(32,275)71,437 (169,681)
NET POSITION - Beginning of Year 4,988,118 452,851 5,530,350 1,508,113 12,479,432
NET POSITION - END OF YEAR $4,805,197 $426,929 $5,498,075 $1,579,550 $12,309,751
Page 146
VILLAGE OF GLENVIEW
COMBINING STATEMENT OF CASH FLOW S
INTERNAL SERVICE FUNDS
For the Year Ended December 31, 2017
Capital
Equipment
Replacement
Fund
Municipal
Equipment
Repair Fund
Insurance and
Risk Fund
Facilities
Repair and
Replacement
Fund Totals
CASH FLOWS FROM OPERATING
ACTIVITIES
Received from customers $2,113,351 $1,317,854 $7,152,329 $1,192,586 $11,776,120
Paid to suppliers for goods and services (292,162)(809,787)(6,891,903)(208,281)(8,202,133)
Paid to employees for services -(415,086)(573,465)-(988,551)
Net Cash Flows From Operating
Activities 1,821,189 92,981 (313,039)984,305 2,585,436
CASH FLOWS FROM INVESTING
ACTIVITIES
Investment income 42,824 27 237,668 485 281,004
Sale of investments 2,972,391 -2,665,600 -5,637,991
Purchase of investments (4,469,712)-(4,467,178)(1,194,465)(10,131,355)
Net Cash Flows From Investing
Activities (1,454,497)27 (1,563,910)(1,193,980)(4,212,360)
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES
Transfers out --(403,917)-(403,917)
Net Cash Flows From Noncapital
Financing Activities --(403,917)-(403,917)
CASH FLOWS FROM CAPITAL AND
RELATED FINANCING ACTIVITIES
Proceeds from sale of capital assets 97,900 ---97,900
Acquisition and construction of capital
assets (1,101,072)--(992,546)(2,093,618)
Net Cash Flows From Capital and
Related Financing Activities (1,003,172)--(992,546)(1,995,718)
Net Change in Cash and Cash
Equivalents (636,480)93,008 (2,280,866)(1,202,221)(4,026,559)
CASH AND CASH EQUIVALENTS -
Beginning of Year 1,423,492 139,223 3,192,322 1,599,954 6,354,991
CASH AND CASH EQUIVALENTS -
END OF YEAR $787,012 $232,231 $911,456 $397,733 $2,328,432
Page 147
VILLAGE OF GLENVIEW
COMBINING STATEMENT OF CASH FLOW S
INTERNAL SERVICE FUNDS
For the Year Ended December 31, 2017
Capital
Equipment
Replacement
Fund
Municipal
Equipment
Repair Fund
Insurance and
Risk Fund
Facilities
Repair and
Replacement
Fund Totals
RECONCILIATION OF OPERATING
INCOME (LOSS) TO NET CASH FLOWS
FROM OPERATING ACTIVITIES
Operating income (loss)$1,109,241 $(25,949)$129,390 $1,056,295 $2,268,977
Changes in assets and liabilities
Accounts receivable 105 2,790 (18,987)-(16,092)
Inventory -6,808 --6,808
Deposits --(184,481)-(184,481)
Prepaid expense 672,768 -(1,888)-670,880
Accounts payable 39,075 109,043 10,353 (72,397)86,074
Claims payable --(263,521)-(263,521)
Accrued salaries -289 -407 696
Due to other funds --14,214 -14,214
Unearned revenues --1,881 -1,881
NET CASH FLOWS FROM
OPERATING ACTIVITIES $1,821,189 $92,981 $(313,039)$984,305 $2,585,436
NONCASH CAPITAL AND RELATED
FINANCING ACTIVITIES
None
Page 148
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION - BUDGET AND
ACTUAL
CAPITAL EQUIPMENT REPLACEMENT FUND (CERF) - INTERNAL SERVICE FUND
For the Year Ended December 31, 2017
With Comparative Actual Amounts for the Year Ended December 31, 2016
2017
Budgeted Amounts
Original Final Actual
2016
Actual
OPERATING REVENUES
Charges for services
CERF charges $2,096,256 $2,096,256 $2,113,156 $2,139,664
Other charges --90 341
Total Operating Revenues 2,096,256 2,096,256 2,113,246 2,140,005
OPERATING EXPENSES
Commodities 228,425 228,425 189,695 171,523
Machinery and equipment 98,165 98,165 76,398 38,041
Computer servers 68,190 68,190 64,127 95,628
Vehicles --659,005 241,527
System improvements -14,900 14,675 42,469
Other charges --105 -
Total Operating Expenses 394,780 409,680 1,004,005 589,188
Operating income 1,701,476 1,686,576 1,109,241 1,550,817
NON-OPERATING REVENUES
Investment income 20,000 20,000 44,590 29,627
Proceeds from the sale of capital
assets 80,100 80,100 97,900 102,619
Reassignment of capital assets (1,302,698)(1,287,798)(1,434,652)(1,139,194)
Total Non-Operating Revenues (1,202,598)(1,187,698)(1,292,162)(1,006,948)
Change in net position $498,878 $498,878 (182,921)543,869
NET POSITION - Beginning of Year 4,988,118 4,444,249
NET POSITION - END OF YEAR $4,805,197 $4,988,118
Page 149
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION - BUDGET AND
ACTUAL
MUNICIPAL EQUIPMENT REPAIR FUND (MERF) - INTERNAL SERVICE FUND
For the Year Ended December 31, 2017
With Comparative Actual Amounts for the Year Ended December 31, 2016
2017
Budgeted Amounts
Original Final Actual
2016
Actual
OPERATING REVENUES
Charges for services
Village $1,521,112 $1,521,112 $1,193,870 $1,249,057
Library 5,000 5,000 2,555 582
Other charges 160,000 160,000 118,639 91,648
Total Operating Revenues 1,686,112 1,686,112 1,315,064 1,341,287
OPERATING EXPENSES
Personnel 431,098 431,098 415,375 421,835
Contractual services 423,300 453,300 416,742 379,449
Commodities 261,907 281,907 191,995 238,079
Other charges 569,817 519,817 316,798 304,660
Capital outlay --103 -
Total Operating Expenses 1,686,122 1,686,122 1,341,013 1,344,023
Operating Income (Loss)(10)(10)(25,949)(2,736)
NON-OPERATING REVENUES
Investment income 10 10 27 11
Total Non-Operating Revenues 10 10 27 11
Net Loss --(25,922)(2,725)
Change in net position $-$-(25,922)(2,725)
NET POSITION - Beginning of Year 452,851 455,576
NET POSITION - END OF YEAR $426,929 $452,851
Page 150
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION - BUDGET AND
ACTUAL
INSURANCE AND RISK FUND - INTERNAL SERVICE FUND
For the Year Ended December 31, 2017
With Comparative Actual Amounts for the Year Ended December 31, 2016
2017
Budgeted Amounts
Original Final Actual
2016
Actual
OPERATING REVENUES
Charges for services
Employees $ 738,912 $ 738,912 $ 739,401 $ 694,314
Village 3,320,236 3,320,236 3,394,674 3,165,940
Retirees 959,292 959,292 891,301 898,542
Component unit - Library 528,948 528,948 540,006 496,029
Other 1,716,766 1,716,766 1,716,771 1,801,350
Miscellaneous
Insurance recoveries 50,000 50,000 51,026 64,679
Other 14,929 14,929 20,737 4,827
Total Operating Revenues 7,329,083 7,329,083 7,353,916 7,125,681
OPERATING EXPENSES
Personnel 689,285 689,285 574,639 517,083
Contractual services 7,099,905 7,099,905 6,649,374 6,942,707
Commodities --513 -
Total Operating Expenses 7,789,190 7,789,190 7,224,526 7,459,790
Operating Income (loss)(460,107)(460,107)129,390 (334,109)
NON-OPERATING REVENUES
Investment income 310,750 310,750 242,252 567,903
Total Non-Operating Revenues 310,750 310,750 242,252 567,903
Net Income (Loss) Before
Transfers (149,357)(149,357)371,642 233,794
TRANSFERS OUT
General Fund (403,917)(403,917)(403,917)(250,000)
Facilities Repair and Replacement
Fund ---(146,020)
Transfers Out (403,917)(403,917)(403,917)(396,020)
Change in net position $ (553,274)$ (553,274)(32,275)(162,226)
NET POSITION - Beginning of Year 5,530,350 5,692,576
NET POSITION - END OF YEAR $ 5,498,075 $ 5,530,350
Page 151
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION - BUDGET AND
ACTUAL
FACILITIES REPAIR AND REPLACEMENT FUND (FRRF) - INTERNAL SERVICE FUND
For the Year Ended December 31, 2017
With Comparative Actual Amounts for the Year Ended December 31, 2016
2017
Budgeted Amounts
Original Final Actual
2016
Actual
OPERATING REVENUES
Charges for services
Facilities charges $1,209,586 $1,209,586 $1,186,469 $119,588
Other charges --6,117 4,701
Total Operating Revenues 1,209,586 1,209,586 1,192,586 124,289
OPERATING EXPENSES
Contractual services 95,969 95,969 58,542 84,789
Capital outlay 558,158 558,158 77,749 168,345
Total Operating Expenses 654,127 654,127 136,291 253,134
Operating Income (loss)555,459 555,459 1,056,295 (128,845)
NON-OPERATING REVENUES
Investment income 10,000 10,000 7,688 3,574
Reassignment of capital assets (1,062,549)(1,063,363)(992,546)(416,579)
Total Non-Operating Revenues (1,052,549)(1,053,363)(984,858)(413,005)
Net Income (Loss) Before
Transfers (497,090)(497,904)71,437 (541,850)
TRANSFERS IN
Insurance and Risk Fund ---146,020
Transfers In ---146,020
Change in net position $(497,090)$(497,904)71,437 (395,830)
NET POSITION - Beginning of Year 1,508,113 1,903,943
NET POSITION - END OF YEAR $1,579,550 $1,508,113
Page 152
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.
Joint ETSB Fund – to account for 9-1-1 surcharge fees received monthly from the Illinois State Police for
each member municipality. Municipalities submit 9-1-1 eligible expenditures to the Joint ETSB Board to
request disbursement of its respective surcharge revenues. The funds received and disbursed from this
fund are revenues and expenditures of the member agencies.
VILLAGE OF GLENVIEW
COMBINING STATEMENT OF FIDUCIARY NET POSITION
PENSION TRUST FUNDS
As of December 31, 2017
Police Pension
Fund
Firefighters'
Pension Fund Totals
ASSETS
Cash and cash equivalents $2,012,342 $878,316 $2,890,658
Investments
U.S. treasuries 7,613,717 4,604,484 12,218,201
U.S. agencies 7,738,637 20,245,097 27,983,734
Mutual funds 47,195,918 54,303,725 101,499,643
Corporate obligations 14,289,725 -14,289,725
Municipal obligations 378,143 4,596,921 4,975,064
Receivables
Accrued interest 204,572 177,018 381,590
Prepaid items 6,137 4,890 11,027
Total Assets 79,439,191 84,810,451 164,249,642
LIABILITIES
Accrued expenses 24,530 39,943 64,473
Due to primary government 687 2,903 3,590
Total Liabilities 25,217 42,846 68,063
NET POSITION
Restricted for pension benefits $79,413,974 $84,767,605 $164,181,579
Page 153
VILLAGE OF GLENVIEW
COMBINING STATEMENT OF CHANGES IN FIDUCIARY NET POSITION
PENSION TRUST FUNDS
For the Year Ended December 31, 2017
Police Pension
Fund
Firefighters'
Pension Fund Total
AD DITIONS
Contributions
Employer $2,492,386 $3,839,494 $6,331,880
Participant 712,432 801,858 1,514,290
Total Contributions 3,204,818 4,641,352 7,846,170
Investment income
Net appreciation in fair value of investments 5,492,067 6,951,967 12,444,034
Interest income 3,024,105 3,650,588 6,674,693
Total Investment Income 8,516,172 10,602,555 19,118,727
Less investment expense 134,132 216,756 350,888
Net Investment Income 8,382,040 10,385,799 18,767,839
Total Additions 11,586,858 15,027,151 26,614,009
DEDUCTIONS
Retirement pensions 3,722,924 4,853,954 8,576,878
Widow pensions 284,700 557,897 842,597
Disability pensions 122,455 507,696 630,151
Children's pensions 48,270 1,952 50,222
Total Deductions 4,178,349 5,921,499 10,099,848
Change in Net Position 7,408,509 9,105,652 16,514,161
NET POSITION - Beginning of Year 72,005,465 75,661,953 147,667,418
NET POSITION - END OF YEAR $79,413,974 $84,767,605 $164,181,579
Page 154
VILLAGE OF GLENVIEW
POLICE PENSION FUND
DETAILED SCHEDULE OF CHANGES IN FIDUCIARY NET POSITION - BUDGET AND ACTUAL
For the Year Ended December 31, 2017
With Comparative Actual Amounts for the Year Ended December 31, 2016
2017
Original Budget Final Budget Actual 2016 Actual
Additions
Contributions
Employer $2,456,386 $2,456,386 $2,492,386 $2,497,041
Participant 846,858 846,858 712,432 812,961
Total contributions 3,303,244 3,303,244 3,204,818 3,310,002
Investment Income
Net appreciation in fair value of
investments 3,400,000 3,400,000 5,492,067 1,783,035
Interest income 800,000 800,000 3,024,105 2,226,349
Total investment income 4,200,000 4,200,000 8,516,172 4,009,384
Less investment expense 138,707 138,707 134,132 71,693
Net investment income 4,061,293 4,061,293 8,382,040 3,937,691
Total additions 7,364,537 7,364,537 11,586,858 7,247,693
Deductions
Retirement pensions 3,571,453 3,571,453 3,722,924 3,476,101
Widow pensions 302,482 302,482 284,700 302,482
Disability pensions 174,790 174,790 122,455 121,428
Children's pensions --48,270 48,270
Contribution refunds 50,000 50,000 --
Administration ---50,482
Total deductions 4,098,725 4,098,725 4,178,349 3,998,763
Change in Net Position $3,265,812 $3,265,812 7,408,509 3,248,930
NET POSITION - Beginning of Year 72,005,465 68,756,535
NET POSITION - END OF YEAR $79,413,974 $72,005,465
Page 155
VILLAGE OF GLENVIEW
FIREFIGHTERS' PENSION FUND
DETAILED SCHEDULE OF CHANGES IN FIDUCIARY NET POSITION - BUDGET AND ACTUAL
For the Year Ended December 31, 2017
With Comparative Actual Amounts for the Year Ended December 31, 2016
2017
Original Budget Final Budget Actual 2016 Actual
Additions
Contributions
Employer $3,798,546 $3,798,546 $3,839,494 $4,016,250
Participant 816,694 816,694 801,858 782,515
Total contributions 4,615,240 4,615,240 4,641,352 4,798,765
Investment Income
Net appreciation in fair value of
investments 3,100,000 3,100,000 6,951,967 2,514,745
Interest income 800,000 800,000 3,650,588 2,385,764
Total investment income 3,900,000 3,900,000 10,602,555 4,900,509
Less investment expense 242,534 242,534 216,756 134,552
Net investment income 3,657,466 3,657,466 10,385,799 4,765,957
Total additions 8,272,706 8,272,706 15,027,151 9,564,722
Deductions
Retirement pensions 4,881,371 4,881,371 4,853,954 4,703,877
Widow pensions 371,110 371,110 557,897 412,618
Disability pensions 477,915 477,915 507,696 510,782
Children's pensions --1,952 -
Contribution refunds 50,000 50,000 --
Administration ---68,045
Total deductions 5,780,396 5,780,396 5,921,499 5,695,322
Change in Net Position $2,492,310 $2,492,310 9,105,652 3,869,400
NET POSITION - Beginning of Year 75,661,953 71,792,553
NET POSITION - END OF YEAR $84,767,605 $75,661,953
Page 156
Balances Balances
December 31,December 31,
2016 Additions Deductions 2017
Total - All Agency Funds
Assets
Cash and cash equivalents 477,819$ 6,099,601$ 4,545,698$ 2,031,722$
Investments 995,100 992,357 1,244,249 743,208
Receivables - property taxes 322,982 293,222 322,982 293,222
Receivables - interest 1,169 2,254 1,169 2,254
Total Assets 1,797,070$ 7,387,434$ 6,114,098$ 3,070,406$
Liabilities
Accounts payable 106,628$ 4,663,694$ 3,166,874$ 1,603,448$
Refundable deposits 1,194,917 1,297,060 1,491,992 999,985
Due to bond holders 495,525 372,580 401,132 466,973
Total Liabilities 1,797,070$ 6,333,334$ 5,059,998$ 3,070,406$
Special Service Area (SSA) Bond Fund
Assets
Cash and cash equivalents 172,543$ 372,580$ 371,372$ 173,751$
Receivables - property taxes 322,982 293,222 322,982 293,222
Total Assets 495,525$ 665,802$ 694,354$ 466,973$
Liabilities
Due to bond holders 495,525$ 372,580$ 401,132$ 466,973$
Total Liabilities 495,525$ 372,580$ 401,132$ 466,973$
Escrow Deposit Fund
Assets
Cash and cash equivalents 305,276$ 1,624,331$ 1,471,662$ 457,945$
Investments 995,100 992,357 1,244,249 743,208
Receivables - interest 1,169 2,254 1,169 2,254
Total Assets 1,301,545$ 2,618,942$ 2,717,080$ 1,203,407$
Liabilities
Accounts payable 106,628$ 561,004$ 464,210$ 203,422$
Refundable deposits 1,194,917 1,297,060 1,491,992 999,985
Total Liabilities 1,301,545$ 1,858,064$ 1,956,202$ 1,203,407$
Joint ETSB Fund
Assets
Cash and cash equivalents -$ 4,102,690$ 2,702,664$ 1,400,026$
Total Assets -$ 4,102,690$ 2,702,664$ 1,400,026$
Liabilities
Accounts payable -$ 4,102,690$ 2,702,664$ 1,400,026$
Total Liabilities -$ 4,102,690$ 2,702,664$ 1,400,026$
VILLAGE OF GLENVIEW
COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
AGENCY FUNDS
For the Year Ended December 31, 2017
Page 157
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.
Library General
Fund
Library Debt
Service
Nonmajor
Library Funds Total Library
ASSETS
Current assets
Cash and cash equivalents 2,853,089$ 430,015$ 554,927$ 3,838,031$
Investments 1,730,482 - 246,500 1,976,982
Receivables, net of allowances
Property taxes 6,045,247 1,829,791 - 7,875,038
Interest 6,227 - 1,730 7,957
Prepaid Items 725 - - 725
Total current assets 10,635,770 2,259,806 803,157 13,698,733
Noncurrent assets
Capital assets not depreciated - - - -
Capital assets depreciation (net)- - - -
Total noncurrent assets - - - -
TOTAL ASSETS 10,635,770 2,259,806 803,157 13,698,733
DEFERRED OUTFLOWS OF RESOURCES
Deferred charge on refunding - - - -
Deferred outflows due to pensions - - - -
TOTAL DEFERRED OUTFLOWS OF
RESOURCES - - - -
As of December 31, 2017
Combining Balance Sheet
VILLAGE OF GLENVIEW
COMBINING BALANCE SHEET AND STATEMENT OF NET POSITION
GLENVIEW LIBRARY - COMPONENT UNIT
Page 158
Adjustments
Total
Component Unit -
Glenview Library
-$ 3,838,031$
- 1,976,982
- 7,875,038
- 7,957
- 725
- 13,698,733
5,426,987 5,426,987
24,988,620 24,988,620
30,415,607 30,415,607
30,415,607 44,114,340
941,818 941,818
1,738,862 1,738,862
2,680,680 2,680,680
Statement of Net Position
Page 159
Library General
Fund
Library Debt
Service
Nonmajor
Library Funds Total Library
As of December 31, 2017
Combining Balance Sheet
VILLAGE OF GLENVIEW
COMBINING BALANCE SHEET AND STATEMENT OF NET POSITION
GLENVIEW LIBRARY - COMPONENT UNIT
LIABILITIES
Current liabilities
Accounts payable 322,261$ -$ 50,537$ 372,798$
Accrued payroll 173,451 - - 173,451
Accrued interest - - - -
Current portion of bonds payable - - - -
Current portion of compensated absences - - - -
Total current liabilities 495,712 - 50,537 546,249
Noncurrent liabilities
Bonds payable - - - -
Unamortized bond premiums - - - -
Net pension liability - - - -
Compensated absences - - - -
Total noncurrent liabilities - - - -
TOTAL LIABILITIES 495,712 - 50,537 546,249
DEFERRED INFLOWS OF RESOURCES
Deferred property taxes 6,051,078 1,832,209 - 7,883,287
Deferred inflows due to pensions - - - -
TOTAL DEFERRED INFLOWS OF RESOURCES 6,051,078 1,832,209 - 7,883,287
FUND BALANCES/NET POSITION
Net Investment in capital assets - - - -
Restricted - 427,597 752,620 1,180,217
Unassigned/unrestricted 4,088,980 - - 4,088,980
TOTAL FUND BALANCES/NET POSITION 4,088,980 427,597 752,620 5,269,197
TOTAL LIABILITIES, DEFERRED INFLOWS
OF RESOURCES, AND FUND
BALANCES/NET POSITION 10,635,770$ 2,259,806$ 803,157$ 13,698,733$
Page 160
Adjustments
Total
Component Unit -
Glenview Library
Statement of Net Position
-$ 372,798$
- 173,451
74,667 74,667
1,225,045 1,225,045
56,856 56,856
1,356,568 1,902,817
15,326,600 15,326,600
2,311,667 2,311,667
3,016,343 3,016,343
227,425 227,425
20,882,035 20,882,035
22,238,603 22,784,852
- 7,883,287
129,346 129,346
129,346 8,012,633
12,494,113 12,494,113
- 1,180,217
(1,765,775) 2,323,205
10,728,338 15,997,535
33,096,287$ 46,795,020$
Page 161
Library General
Fund
Library Debt
Service
Nonmajor
Library Funds Total Library
REVENUES
Property taxes 6,278,384$ 1,993,109$ -$ 8,271,493$
Charges for services 57,655 - - 57,655
Fines and forfeitures 79,649 - - 79,649
Intergovernmental 1,165,427 - - 1,165,427
Investment income 46,652 11,697 8,014 66,363
Other revenue 45,992 - 55,592 101,584
Total revenues 7,673,759 2,004,806 63,606 9,742,171
EXPENDITURES
Current
Culture and recreation 6,820,854 - 42,909 6,863,763
Debt service
Principal - 1,190,000 - 1,190,000
Interest and other - 833,047 - 833,047
Capital outlay 213,024 - 220,336 433,360
Total expenditures 7,033,878 2,023,047 263,245 9,320,170
Excess (deficiency) of revenues
over expenditures 639,881 (18,241) (199,639) 422,001
OTHER FINANCING SOURCES (USES)
Transfers in - - 122,224 122,224
Transfers out (122,224) - - (122,224)
Total Other Financing Sources (Uses)(122,224) - 122,224 -
Net Change in Fund Balances/Net Position 517,657 (18,241) (77,415) 422,001
FUND BALANCES/NET POSITION -
Beginning of Year 3,571,323 445,838 830,035 4,847,196
FUND BALANCES/NET POSITION -
END OF YEAR 4,088,980$ 427,597$ 752,620$ 5,269,197$
VILLAGE OF GLENVIEW
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES AND
GLENVIEW LIBRARY - COMPONENT UNIT
For the Year Ended December 31, 2017
STATEMENT OF ACTIVITIES
Statement of Revenues, Expenditures,
and Changes in Fund Balances
Page 162
Adjustments
Total
Component Unit -
Glenview Library
-$ 8,271,493$
- 57,655
- 79,649
- 1,165,427
- 66,363
- 101,584
- 9,742,171
897,125 7,760,888
(1,190,000) -
(114,154) 718,893
(153,053) 280,307
(560,082) 8,760,088
560,082 982,083
(122,224) -
122,224 -
- -
560,082 982,083
10,168,256 15,015,452
10,728,338$ 15,997,535$
Statement of Activities
Page 163
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCES - BUDGET AND ACTUAL - LIBRARY GENERAL FUND
For the Year Ended December 31, 2017
With Comparative Actual Amounts for the Year Ended December 31, 2016
2017
Budgeted Amounts
Original Final Actual
2016
Actual
REVENUES
PROPERTY TAXES
Current year $6,269,261 $6,269,261 $6,372,104 $6,246,136
Prior year (50,000)(50,000)(93,720)(66,163)
Total property taxes 6,219,261 6,219,261 6,278,384 6,179,973
CHARGES FOR SERVICES
Nonresident fee 18,000 18,000 14,862 17,006
Personal books 1,250 1,250 1,461 814
Copying fees 13,000 13,000 12,810 14,066
Circular collection fees 500 500 192 610
Video fees 23,000 23,000 20,532 22,830
Rental fees 1,500 1,500 7,798 1,866
Total charges for services 57,250 57,250 57,655 57,192
FINES AND FORFEITURES
Library fines 59,000 59,000 67,634 60,717
Lost and paid 11,000 11,000 12,015 11,452
Total fines and forfeitures 70,000 70,000 79,649 72,169
INTERGOVERNMENTAL
Property replacement tax 42,000 42,000 59,013 50,779
Make-whole payment 1,073,392 1,073,392 1,106,414 1,015,469
Grant revenue 35,000 35,000 -39,451
Total intergovernmental 1,150,392 1,150,392 1,165,427 1,105,699
INVESTMENT INCOME
Interest 13,000 13,000 46,652 28,123
OTHER REVENUE
Employee dental contribution 19,500 19,500 21,663 17,485
Miscellaneous 24,000 24,000 24,329 33,242
Total other revenue 43,500 43,500 45,992 50,727
Total Revenues 7,553,403 7,553,403 7,673,759 7,493,883
EXPENDITURES
CULTURE AND RECREATION
Library Adminstration
Personnel 1,153,866 1,153,866 1,160,376 1,076,006
Contractual services 345,494 345,494 314,813 283,447
Commodities 7,900 7,900 8,862 8,864
Other charges 32,650 32,650 24,041 42,715
Total library adminstration 1,539,910 1,539,910 1,508,092 1,411,032
Page 164
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCES - BUDGET AND ACTUAL - LIBRARY GENERAL FUND
For the Year Ended December 31, 2017
With Comparative Actual Amounts for the Year Ended December 31, 2016
2017
Budgeted Amounts
Original Final Actual
2016
Actual
Expenditures (cont.)
Reader's services
Personnel $832,631 $832,631 $822,478 $804,045
Contractual services 75,200 75,200 70,162 86,177
Commodities 255,525 255,525 243,524 255,884
Other charges 2,500 2,500 1,642 1,937
Total reader's services 1,165,856 1,165,856 1,137,806 1,148,043
Buildings and grounds maintenance
Personnel 210,261 210,261 212,563 202,490
Contractual services 105,800 105,800 126,980 131,732
Commodities 69,750 69,750 63,932 57,633
Other charges 250 250 330 149
Total buildings and grounds
maintenance 386,061 386,061 403,805 392,004
Circulation
Personnel 872,851 872,851 847,845 835,254
Contractual services 12,950 12,950 12,235 11,870
Commodities 16,700 16,700 9,489 18,032
Other charges 4,150 4,150 1,747 1,945
Total circulation 906,651 906,651 871,316 867,101
Public information
Personnel 174,784 174,784 172,796 168,265
Contractual services 52,057 52,057 47,177 46,681
Commodities 4,375 4,375 5,475 4,723
Other charges 450 450 95 35
Total public information 231,666 231,666 225,543 219,704
Technical services
Personnel 572,540 572,540 569,644 591,504
Contractual services 11,950 11,950 6,944 5,139
Commodities 14,450 14,450 11,116 16,673
Other charges 2,300 2,300 338 1,931
Total technical services 601,240 601,240 588,042 615,247
Youth services
Personnel 646,462 646,462 595,186 644,735
Contractual services 58,600 58,600 55,849 59,040
Commodities 125,975 125,975 122,426 128,241
Other charges 3,800 3,800 2,269 2,472
Total youth services 834,837 834,837 775,730 834,488
Page 165
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCES - BUDGET AND ACTUAL - LIBRARY GENERAL FUND
For the Year Ended December 31, 2017
With Comparative Actual Amounts for the Year Ended December 31, 2016
2017
Budgeted Amounts
Original Final Actual
2016
Actual
Expenditures (cont.)
Reference
Personnel $620,086 $620,086 $598,192 $578,324
Contractual services 203,250 203,250 190,131 186,823
Commodities 124,160 124,160 68,069 85,190
Other charges 2,715 2,715 362 1,751
Total reference 950,211 950,211 856,754 852,088
Information technology
Personnel 277,309 277,309 262,159 211,749
Contractual services 177,500 177,500 181,521 166,338
Commodities 6,550 6,550 7,912 4,707
Other charges 2,300 2,300 2,174 36
Total information technology 463,659 463,659 453,766 382,830
Total Culture and
Recreation 7,080,091 7,080,091 6,820,854 6,722,537
CAPITAL OUTLAY
Furniture and fixtures 2,000 2,000 335 17
Machinery and equipment 10,500 10,500 8,523 151,384
Information system 233,185 233,185 204,166 203,464
Total Capital outlay 245,685 245,685 213,024 354,865
Total Expenditures 7,325,776 7,325,776 7,033,878 7,077,402
Excess of revenues over
expenditures 227,627 227,627 639,881 416,481
OTHER FINANCING USES
Transfer (out)
Library Special Reserve Fund -(122,224)(122,224)(75,000)
Total Other Financing Uses -(122,224)(122,224)(75,000)
Net Change in Fund Balance $227,627 $105,403 517,657 341,481
FUND BALANCE - Beginning of Year 3,571,323 3,229,842
FUND BALANCE - END OF YEAR $4,088,980 $3,571,323
Page 166
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCES - BUDGET AND ACTUAL - LIBRARY DEBT SERVICE FUND
For the Year Ended December 31, 2017
With Comparative Actual Amounts for the Year Ended December 31, 2016
2017
Budgeted Amounts
Original Final Actual
2016
Actual
REVENUES
Property $1,953,718 $1,953,718 $1,993,109 $2,015,815
Investment income 8,250 8,250 11,697 9,319
Total Revenues 1,961,968 1,961,968 2,004,806 2,025,134
EXPENDITURES
Debt service
Bond issuance costs ---72,181
Principal 1,190,000 1,190,000 1,190,000 1,155,000
Interest expense 832,048 832,048 833,047 450,108
Total Expenditures 2,022,048 2,022,048 2,023,047 1,677,289
Excess (deficiency) of revenues over
(under) expenditures (60,080)(60,080)(18,241)347,845
OTHER FINANCING SOURCES
(USES)
Debt issued ---15,326,600
Premium on debt issued ---2,696,945
Payments to escrow agents ---(18,276,297)
Total Other Financing Sources
(Uses)---(252,752)
Net Change in Fund Balance $(60,080)$(60,080)(18,241)95,093
FUND BALANCE - Beginning of Year 445,838 350,745
FUND BALANCE - END OF YEAR $427,597 $445,838
Page 167
Friends of the
Library Gift
Total Special
Revenue
Assets
Cash and cash equivalents 127,527$ 103,287$ 230,814$
Investments - - -
Interest Receivable - - -
Total assets 127,527$ 103,287$ 230,814$
Liabilities and Fund Balances
Liabilities
Accounts payable 188$ -$ 188$
Total liabilities 188 - 188
Fund balance
Restricted 127,339 103,287 230,626
Total fund balances 127,339 103,287 230,626
Total liabilities and fund balances 127,527$ 103,287$ 230,814$
As of December 31, 2017
Special Revenue Funds
VILLAGE OF GLENVIEW
COMBINING BALANCE SHEET
GLENVIEW LIBRARY - COMPONENT UNIT - LIBRARY NONMAJOR FUNDS
Page 168
Library Capital
Contribution
Library Special
Reserve
Total Capital
Project
Total Nonmajor
Library
64,904$ 259,209$ 324,113$ 554,927$
- 246,500 246,500 246,500
- 1,730 1,730 1,730
64,904$ 507,439$ 572,343$ 803,157$
-$ 50,349$ 50,349$ 50,537$
- 50,349 50,349 50,537
64,904 457,090 521,994 752,620
64,904 457,090 521,994 752,620
64,904$ 507,439$ 572,343$ 803,157$
Capital Projects Funds
Page 169
Friends of the
Library Gift
Total Special
Revenue
Revenues
Other revenue
Donations 40,000$ 750$ 40,750$
Investment income 1,041 1,046 2,087
Total revenues 41,041 1,796 42,837
Expenditures
Culture and Recreation
Administration - 34 34
Contractual services - - -
Miscellaneous 33,214 942 34,156
Capital outlay - - -
Total expenditures 33,214 976 34,190
Operating income (loss)7,827 820 8,647
Other Financing Sources
Transfers in - - -
Total Other Financing Sources - - -
Net Change in Fund Balances 7,827 820 8,647
FUND BALANCE - Beginning of Year 119,512 102,467 221,979
FUND BALANCE - END OF YEAR 127,339$ 103,287$ 230,626$
Special Revenue Funds
VILLAGE OF GLENVIEW
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
GLENVIEW LIBRARY - COMPONENT UNIT - LIBRARY NONMAJOR FUNDS
For the Year Ended December 31, 2017
Page 170
Library Capital
Contribution
Library Special
Reserve
Total Capital
Project
Total Nonmajor
Library
14,842$ -$ 14,842$ 55,592$
557 5,370 5,927 8,014
15,399 5,370 20,769 63,606
- - - 34
- 6,430 6,430 6,430
2,289 - 2,289 36,445
- 220,336 220,336 220,336
2,289 226,766 229,055 263,245
13,110 (221,396) (208,286) (199,639)
- 122,224 122,224 122,224
- 122,224 122,224 122,224
13,110 (99,172) (86,062) (77,415)
51,794 556,262 608,056 830,035
64,904$ 457,090$ 521,994$ 752,620$
Capital Projects Funds
Page 171
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCES - BUDGET AND ACTUAL - LIBRARY SPECIAL RESERVE FUND
For the Year Ended December 31, 2017
With Comparative Actual Amounts for the Year Ended December 31, 2016
2017
Budgeted Amounts
Original Final Actual
2016
Actual
REVENUES
Investment income $1,100 $1,100 $5,370 $3,186
Total Revenues 1,100 1,100 5,370 3,186
EXPENDITURES
Culture and recreation
Contractual services --6,430 -
Other charges 98,303 98,303 --
Total culture and recreation 98,303 98,303 6,430 -
Capital outlay
Capital outlay --220,336 25,043
Total Expenditures 98,303 98,303 226,766 25,043
Excess (deficiency) of revenues over
(under) expenditures (97,203)(97,203)(221,396)(21,857)
OTHER FINANCING SOURCES
Transfers in
Library General Fund 122,224 122,224 122,224 75,000
Total Other Financing Sources 122,224 122,224 122,224 75,000
Net Change in Fund Balance $25,021 $25,021 (99,172)53,143
FUND BALANCE - Beginning of Year 556,262 503,119
FUND BALANCE - END OF YEAR $457,090 $556,262
Page 172
VILLAGE OF GLENVIEW
LONG-TERM DEBT REQUIREMENTS
GENERAL OBLIGATION BOND SERIES SERIES 2009A
December 31, 2017
Date of Issue May 5, 2009
Date of Maturity December 1, 2018
Amount of Issue 26,300,000$
Denomination of Bonds 5,000$
Interest Rates 3.000% to 4.125%
Interest Dates June 1 and December 1
Princial Maturity Date December 1
Paying agent Wells Fargo Bank, N.A., Chicago, IL
Future Principal and Interest Requirements
Fiscal Year
Ending
December 31,Principal Interest Total June 1 Amount December 1 Amount
2018 1,225,045$ 42,922$ 1,267,967$ 2018 21,461$ 2018 21,461$
Total 1,225,045$ 42,922$ 1,267,967$ 21,461$ 21,461$
Note: Principal and interest is payable from proceeds of the library property tax levy.
Requirements Interest Due on
Page 173
VILLAGE OF GLENVIEW
LONG-TERM DEBT REQUIREMENTS
GENERAL OBLIGATION BOND SERIES 2009D
December 31, 2017
Date of Issue October 21, 2009
Date of Maturity December 1, 2018
Amount of Issue 11,290,000$
Denomination of Bonds 5,000$
Interest Rates 2.00% to 4.00%
Interest Dates June 1 and December 1
Prinicipal Maturity Date December 1
Paying Agent Wells Fargo Bank, N.A., Chicago, IL
Future Principal and Interest Requirements
Fiscal Year
Ending
December 31,Principal Interest Total June 1 Amount December 1 Amount
2018 1,360,000$ 54,400$ 1,414,400$ 2018 27,200$ 2018 27,200$
Total 1,360,000$ 54,400$ 1,414,400$ 27,200$ 27,200$
Note: Principal and interest is payable from the Special Tax Allocation Fund.
Requirements Interest Due on
Page 174
VILLAGE OF GLENVIEW
LONG-TERM DEBT REQUIREMENTS
ILLINOIS ENVIRONMENT PROTECTION AGENCY LOAN
December 31, 2017
Date of Issue October 1, 2010
Date of Maturity April 14, 2031
Amount of Issue 633,827$
Interest Rates 0.00%
Prinicipal Maturity Date April 14 and October 14
Paying Agent Illinois Enviornmental Protection Agency
Loan Number: L17-4483
Future Principal and Interest Requirements
Fiscal Year
Ending
December 31,April 14 October 14 Total
2018 12,185$ 12,185$ 24,370$
2019 12,185 12,185 24,370
2020 12,185 12,185 24,370
2021 12,185 12,185 24,370
2022 12,185 12,185 24,370
2023 12,185 12,185 24,370
2024 12,185 12,185 24,370
2025 12,185 12,185 24,370
2026 12,185 12,185 24,370
2027 12,185 12,185 24,370
2028 12,185 12,185 24,370
2029 12,185 12,185 24,370
2030 12,185 12,185 24,370
2031 12,194 - 12,194
Total 170,599$ 158,405$ 329,004$
Note: Principal will be paid by the Capital Projects Fund.
Requirements
Page 175
VILLAGE OF GLENVIEW
LONG-TERM DEBT REQUIREMENTS
GENERAL OBLIGATION REFUNDING BOND SERIES 2012A
December 31, 2017
Date of Issue June 14, 2012
Date of Maturity Decemer 1, 2021
Amount of Issue 18,090,000$
Denomination of Bonds 5,000$
Interest Rates 3.00% to 4.00%
Interest Dates June 1 and December 1
Prinicipal Maturity Date December 1
Paying Agent Wells Fargo Bank, N.A., Chicago, IL
Future Principal and Interest Requirements
Fiscal Year
Ending
December 31,Principal Interest Total June 1 Amount December 1 Amount
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
2029 6,210,000 248,400 6,458,400 2021 124,200 2021 124,200
Total 18,090,000$ 1,887,300$ 19,977,300$ 943,650$ 943,650$
Note: Principal and interest is payable from the Special Tax Allocation Fund.
Requirements Interest Due on
Page 176
VILLAGE OF GLENVIEW
LONG-TERM DEBT REQUIREMENTS
GENERAL OBLIGATION REFUNDING BOND SERIES 2012B
December 31, 2017
Date of Issue December 18, 2012
Date of Maturity December 1, 2024
Amount of Issue 14,575,000$
Denomination of Bonds 5,000$
Interest Rates 3.00% to 4.00%
Interest Dates June 1 and December 1
Prinicipal Maturity Date December 1
Paying Agent Wells Fargo Bank, N.A., Chicago, IL
Future Principal and Interest Requirements
Fiscal Year
Ending
December 31,Principal Interest Total June 1 Amount December 1 Amount
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
Total 10,835,000$ 1,684,900$ 12,519,900$ 842,450$ 842,450$
Note: Principal and interest is payable from a property tax levy.
Requirements Interest Due on
Page 177
VILLAGE OF GLENVIEW
LONG-TERM DEBT REQUIREMENTS
GENERAL OBLIGATION REFUNDING BOND SERIES 2012C
December 31, 2017
Date of Issue December 18, 2012
Date of Maturity December 1, 2018
Amount of Issue 7,730,000$
Denomination of Bonds 5,000$
Interest Rates 2.00% to 3.00%
Interest Dates June 1 and December 1
Prinicipal Maturity Date December 1
Paying Agent Wells Fargo Bank, N.A., Chicago, IL
Future Principal and Interest Requirements
Fiscal Year
Ending
December 31,Principal Interest Total June 1 Amount December 1 Amount
2018 1,735,000$ 52,050$ 1,787,050$ 2018 26,025$ 2018 26,025$
Total 1,735,000$ 52,050$ 1,787,050$ 26,025$ 26,025$
Note: Principal and interest is payable from the Special Tax Allocation Fund.
Requirements Interest Due on
Page 178
VILLAGE OF GLENVIEW
LONG-TERM DEBT REQUIREMENTS
GENERAL OBLIGATION BOND SERIES 2013A
December 31, 2017
Date of Issue December 19, 2013
Date of Maturity December 1, 2033
Amount of Issue 6,065,000$
Denomination of Bonds 5,000$
Interest Rates 2.00% to 4.00%
Interest Dates June 1 and December 1
Prinicipal Maturity Date December 1
Paying Agent Wells Fargo Bank, N.A., Chicago, IL
Future Principal and Interest Requirements
Fiscal Year
Ending
December 31,Principal Interest Total June 1 Amount December 1 Amount
2018 250,000$ 175,284$ 425,284$ 2018 87,642$ 2018 87,642$
2019 260,000 170,283 430,283 2019 85,142 2019 85,141
2020 265,000 165,083 430,083 2020 82,542 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
Total 5,090,000$ 1,752,586$ 6,842,586$ 876,294$ 876,292$
Note: Principal and interest will be paid by the Debt Service Fund via a transfer from the Corporate Fund.
Requirements Interest Due on
Page 179
VILLAGE OF GLENVIEW
LONG-TERM DEBT REQUIREMENTS
GENERAL OBLIGATION BOND SERIES 2013B
December 31, 2017
Date of Issue December 19, 2013
Date of Maturity December 1, 2023
Amount of Issue 4,385,000$
Denomination of Bonds 5,000$
Interest Rates 1.50% to 3.50%
Interest Dates June 1 and December 1
Prinicipal Maturity Date December 1
Paying Agent Wells Fargo Bank, N.A., Chicago, IL
Future Principal and Interest Requirements
Fiscal Year
Ending
December 31,Principal Interest Total June 1 Amount December 1 Amount
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
Total 3,800,000$ 417,406$ 4,217,406$ 208,703$ 208,703$
Note: Principal and interest will be paid by the Waukegan/Golf TIF Fund.
Requirements Interest Due on
Page 180
VILLAGE OF GLENVIEW
LONG-TERM DEBT REQUIREMENTS
5 YEAR LOAN
December 31, 2017
Date of Issue December 1, 2014
Date of Maturity December 1, 2019
Amount of Issue 6,529,688$
Interest Rates 1.85%
Interest Dates June 1 and December 1
Prinicipal Maturity Date December 1
Paying Agent Glenview State Bank
Future Principal and Interest Requirements
Fiscal Year
Ending
December 31,Principal Interest Total June 1 Amount December 1 Amount
2018 1,305,937$ 48,991$ 1,354,928$ 2018 24,428$ 2018 24,563$
2019 1,305,937 24,495 1,330,432 2019 12,214 2019 12,281
Total 2,611,874$ 73,486$ 2,685,360$ 36,642$ 36,844$
Note: Principal and interest will be paid by the Special Tax Allocation Fund.
Requirements Interest Due on
Page 181
VILLAGE OF GLENVIEW
LONG-TERM DEBT REQUIREMENTS
GENERAL OBLIGATION BOND SERIES 2015
December 31, 2017
Date of Issue July 30, 2015
Date of Maturity December 1, 2018
Amount of Issue 10,000,000$
Denomination of Bonds 5,000$
Interest Rates 0.44% to 1.05%
Interest Dates June 1 and December 1
Prinicipal Maturity Date December 1
Paying Agent Glenview State Bank
Future Principal and Interest Requirements
Fiscal Year
Ending
December 31,Principal Interest Total June 1 Amount December 1 Amount
2018 2,565,000$ 26,933$ 2,591,933$ 2018 13,467$ 2018 13,466$
Total 2,565,000$ 26,933$ 2,591,933$ 13,467$ 13,466$
Note: Principal and interest will be paid by the Special Tax Allocation Fund.
Requirements Interest Due on
Page 182
VILLAGE OF GLENVIEW
LONG-TERM DEBT REQUIREMENTS
GENERAL OBLIGATION REFUNDING BOND SERIES 2016A
December 31, 2017
Date of Issue October 27, 2016
Date of Maturity December 1, 2029
Amount of Issue 15,326,600$
Denomination of Bonds 5,000$
Interest Rates 4.45% to 5.91%
Interest Dates June 1 and December 1
Prinicipal Maturity Date December 1
Paying Agent Wells Fargo Bank, N.A., Chicago, IL
Future Principal and Interest Requirements
Fiscal Year
Ending
December 31,Principal Interest Total June 1 Amount December 1 Amount
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
Total 15,326,600$ 4,785,966$ 20,112,566$ 2,392,983$ 2,392,983$
Note: Principal and interest is payable from proceeds of the library property tax levy.
Requirements Interest Due on
Page 183
VILLAGE OF GLENVIEW
LONG-TERM DEBT REQUIREMENTS
ADVANCE METERING INFRASTRUCTURE LOAN
December 31, 2017
Date of Issue May 1, 2015
Date of Maturity December 1, 2025
Amount of Issue 6,876,024$
Interest Rates 2.00%
Interest Dates June 1 and December 1
Prinicipal Maturity Date December 1
Paying Agent Glenview Bank
Future Principal and Interest Requirements
Fiscal Year
Ending
December 31,Principal Interest Total June 1 Amount December 1 Amount
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
Total 6,547,854$ 612,973$ 7,160,827$ 306,489$ 306,489$
Note: Principal and interest will be paid by the Water Fund.
Requirements Interest Due on
Page 184
Special
Revenue Fund
Capital Projects
Fund
Special Tax
Allocation Fund
Glen Capital
Projects Fund
Total GNAS
Redevelopment
ASSETS
Cash and cash equivalents 2,066,638$ 411,173$ 2,477,811$
Investments 23,976,061 823,485 24,799,546
Receivables, net of allowances
Accounts 88,491 - 88,491
Grant receivables - 437 437
Accrued interest 120,642 3,875 124,517
Prepaid items 8,414 - 8,414
Notes receivable 2,223,667 - 2,223,667
TOTAL ASSETS 28,483,913$ 1,238,970$ 29,722,883$
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES
Liabilities
Accounts payable 18,784,440$ 25,423$ 18,809,863$
Accrued payroll 11,039 - 11,039
Other payables 1,307 77,872 79,179
Advances from other funds 15,416,507 - 15,416,507
Total Liabilities 34,213,293 103,295 34,316,588
Deferred Inflows of Resources
Unavailable grant revenue - 437 437
Total Deferred Inflows of Resources - 437 437
Fund Balances (Deficit)
Nonspendable for prepaid items 8,414 - 8,414
Assigned to capital project funds - 1,135,238 1,135,238
Unassigned (5,737,794) - (5,737,794)
Total Fund Balances (Deficit)(5,729,380) 1,135,238 (4,594,142)
TOTAL LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES 28,483,913$ 1,238,970$ 29,722,883$
VILLAGE OF GLENVIEW
COMBINING BALANCE SHEET
GLENVIEW NAVAL AIR STATION (GNAS) REDEVELOPMENT AREA FUNDS
As of December 31, 2017
Page 185
VILLAGE OF GLENVIEW
COMBINING SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
GLENVIEW NAVAL AIR STATION (GNAS) REDEVELOPMENT AREA FUNDS
For the Year Ended December 31, 2017
Special
Revenue Fund
Capital Projects
Fund
Special Tax
Allocation Fund
Glen Capital
Projects Fund
Total GNAS
Redevelopment
Area
REVENUES
Property taxes 33,410,224$ -$ 33,410,224$
Charges for services 204,945 - 204,945
Intergovernmental 315,822 33,596 349,418
Investment income 336,297 12,416 348,713
Miscellaneous - 2,632 2,632
Total Revenues 34,267,288 48,644 34,315,932
EXPENDITURES
Current
General government 22,859,744 - 22,859,744
Capital Outlay - 330,893 330,893
Debt service
Principal 6,850,938 - 6,850,938
Interest and fiscal charges 1,060,895 - 1,060,895
Total Expenditures 30,771,577 330,893 31,102,470
Excess (deficiency) of revenues
over (under) expenditures 3,495,711 (282,249) 3,213,462
OTHER FINANCING SOURCES (USES)
Transfers out (308,798) - (308,798)
Total Other Financing Sources (Uses)(308,798) - (308,798)
Net Change in Fund Balances 3,186,913 (282,249) 2,904,664
FUND BALANCES (DEFICIT) - Beginning of Year (8,916,293) 1,417,487 (7,498,806)
FUND BALANCES (DEFICIT) - END OF YEAR (5,729,380)$ 1,135,238$ (4,594,142)$
Page 186
Statistical Section
Contents Page
Financial Trends 187 - 196
Revenue Capacity 197 - 204
Debt Capacity 205 - 208
Demographic and Economic Information 209 - 212
Operating Information 213 - 216
These schedules contain service and infrastructure data to help the reader understand how
the Village's financial report relates to the services the Village provides and the activities it
performs.
Sources: Unless otherwise noted, the information in these schedules is derived from the comprehensive annual financial
reports for the relevant year.
This part of the Village of Glenview, Illinois' 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.
These schedules contain trend information to help the reader understand how the Village's
financial performance and well-being have changed over time.
These schedules contain information to help the reader assess the Village's most significant
local revenue source, the property tax.
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.
These schedules offer demographic and economic indicators to help the reader understand
the environment within the Village's financial activities take place.
VILLAGE OF GLENVIEW
NET POSITION
Last Ten Fical Years
2008 2009 2010 2011
GOVERNMENTAL ACTIVITIES
Net investment in capital assets 78,477,141$ 87,607,488$ 93,936,562$ 102,217,913$
Restricted 49,074,532 39,881,012 29,923,363 23,711,651
Unrestricted 68,560,085 69,018,535 66,754,133 68,927,169
TOTAL GOVERNMENTAL ACTIVITIES 196,111,758$ 196,507,035$ 190,614,058$ 194,856,733$
BUSINESS-TYPE ACTIVITIES
Net investment in capital assets 43,348,719$ 45,206,019$ 51,450,402$ 55,566,298$
Unrestricted 10,612,213 7,860,336 2,104,898 5,373,918
TOTAL BUSINESS-TYPE ACTIVITIES 53,960,932$ 53,066,355$ 53,555,300$ 60,940,216$
PRIMARY GOVERNMENT
Net investment in capital assets 121,825,860$ 132,813,507$ 145,386,964$ 157,784,211$
Restricted 49,074,532 39,881,012 29,923,363 23,711,651
Unrestricted 79,172,298 76,878,871 68,859,031 74,301,087
TOTAL PRIMARY GOVERNMENT 250,072,690$ 249,573,390$ 244,169,358$ 255,796,949$
Data Source
The Village of Glenview's Comprehensive Annual Financial Report.
Fiscal Year
Page 187
2012 2013 2014 2015 2016 2017
109,488,722$ 139,233,309$ 149,950,065$ 190,234,952$ 190,133,236$ 200,207,529$
45,978,154 11,484,242 2,407,413 2,194,487 2,906,999 3,657,835
42,720,345 50,861,602 (11,873,206) (11,596,195) (10,645,007) (10,627,289)
198,187,221$ 201,579,153$ 140,484,272$ 180,833,244$ 182,395,228$ 193,238,075$
56,331,598$ 58,075,392$ 60,891,686$ 55,002,443$ 53,413,336$ 53,974,120$
7,475,383 10,891,341 8,714,501 6,214,430 5,983,945 7,728,756
63,806,981$ 68,966,733$ 69,606,187$ 61,216,873$ 59,397,281$ 61,702,876$
165,820,320$ 197,308,701$ 210,841,751$ 245,237,395$ 243,546,572$ 254,181,649$
45,978,154 11,484,242 2,407,413 2,194,487 2,906,999 3,657,835
50,195,728 61,752,943 (3,158,705) (5,381,765) (4,661,062) (2,898,533)
261,994,202$ 270,545,886$ 210,090,459$ 242,050,117$ 241,792,509$ 254,940,951$
Page 188
VILLAGE OF GLENVIEW
CHANGES IN NET POSITION
Last Ten Fiscal Years
2008 2009 2010 2011
EXPENSES
Governmental Activities
General government 27,195,744$ 29,780,621$ 32,335,971$ 33,989,230$
Public safety 27,622,472 26,456,771 30,475,113 25,769,097
Public works 13,998,908 12,741,129 13,981,277 8,581,360
Development 7,306,324 8,467,340 12,198,120 10,029,890
Interest on long-term debt 6,068,865 6,001,886 4,085,152 3,353,913
Total Governmental Activities Expenses 82,192,313 83,447,747 93,075,633 81,723,490
Business-Type Activities
Water services 8,254,541 7,733,048 9,265,407 8,795,466
North Maine water and sewer services 6,148,151 5,782,216 6,267,880 6,197,752
Sanitary sewer services 1,473,318 1,238,383 1,948,357 1,801,454
Wholesale water 1,110,176 1,074,812 1,083,206 1,119,994
Commuter parking 381,133 476,940 383,196 386,244
Total Business-type Activities Expenses 17,367,319 16,305,399 18,948,046 18,300,910
TOTAL PRIMARY GOVERNMENT EXPENSES 99,559,632$ 99,753,146$ 112,023,679$ 100,024,400$
PROGRAM REVENUES
Governmental Activities
Charges for Services
General government 3,230,320$ 2,324,730$ 3,931,687$ 3,854,148$
Public safety 4,076,188 5,274,319 5,345,151 5,195,936
Public works - - - -
Development 2,020,840 3,218,677 3,993,971 2,015,239
Operating grants and contributions 1,401,777 1,172,899 1,662,479 1,832,805
Capital grants and contributions - 1,267,384 2,362,508 2,439,618
Total Governmental Activities Program Revenues 10,729,125 13,258,009 17,295,796 15,337,746
Business-Type Activities
Charges for Services
Water services 8,135,293 8,370,780 9,045,480 9,751,605
North Maine water and sewer services 6,824,636 7,206,186 7,473,673 8,120,035
Sanitary sewer services 1,570,372 1,831,857 2,114,548 2,314,028
Wholesale water 1,863,483 1,782,495 1,997,367 2,156,636
Commuter parking 466,356 529,886 524,244 525,991
Operating grants and contributions - - - 27,854
Total Business-Type Activities Program Revenues 18,860,140 19,721,204 21,155,312 22,896,149
29,589,265$ 32,979,213$ 38,451,108$ 38,233,895$
NET REVENUE (EXPENSE)
Governmental Activities (71,463,188)$ (70,189,738)$ (75,779,837)$ (66,385,744)$
Business-Type Activities 1,492,821 3,415,805 2,207,266 4,595,239
TOTAL PRIMARY GOVERNMENT
NET REVENUE (EXPENSE)(69,970,367)$ (66,773,933)$ (73,572,571)$ (61,790,505)$
Fiscal Year
TOTAL PRIMARY GOVERNMENT PROGRAM
REVENUES
Page 189
2012 2013 2014 2015 2016 2017
40,172,192$ 38,505,592$ 36,586,774$ 34,403,572$ 44,385,296$ 42,184,653$
27,145,548 27,152,669 23,105,414 20,638,161 34,694,711 34,322,701
6,670,428 7,743,333 22,535,067 26,550,936 12,872,643 18,850,845
6,421,304 14,486,953 11,829,052 5,107,156 8,956,426 4,654,804
2,984,565 2,547,042 2,231,704 2,087,567 1,853,307 2,027,661
83,394,037 90,435,589 96,288,011 88,787,392 102,762,383 102,040,664
10,339,739 9,880,585 10,634,065 15,164,208 16,376,087 13,118,448
7,399,749 7,399,181 7,547,458 14,915,126 19,318 -
1,729,509 1,789,883 2,051,642 2,034,331 2,326,072 2,292,993
1,157,835 1,129,077 1,064,737 1,172,689 1,276,248 1,393,330
449,674 364,679 409,584 487,345 428,679 489,432
21,076,506 20,563,405 21,707,486 33,773,699 20,426,404 17,294,203
104,470,543$ 110,998,994$ 117,995,497$ 122,561,091$ 123,188,787$ 119,334,867$
3,564,720$ 7,242,189$ 7,090,956$ 6,776,652$ 4,015,275$ 4,610,434$
4,967,056 5,339,032 7,789,777 8,017,412 8,036,363 11,164,334
945,812 945,521 945,106 1,011,433 962,941 1,018,286
850,749 469,771 817,593 137,783 261,785 459,205
1,960,093 1,875,489 2,079,987 1,740,265 1,857,331 2,428,438
746,987 203,909 5,162,690 18,639,549 299,776 472,494
13,035,417 16,075,911 23,886,109 36,323,094 15,433,471 20,153,191
11,351,729 11,213,172 11,431,761 12,738,153 14,276,095 14,624,348
8,229,828 8,611,294 8,068,712 2,549,981 - -
2,523,022 2,355,451 2,263,025 2,523,041 2,569,752 2,496,477
2,063,759 2,190,544 1,891,731 1,996,831 2,075,114 2,361,124
526,212 570,670 615,754 619,764 640,382 655,069
- - - - - -
24,694,550 24,941,131 24,270,983 20,427,770 19,561,343 20,137,018
37,729,967$ 41,017,042$ 48,157,092$ 56,750,864$ 34,994,814$ 40,290,209$
(70,358,620)$ (74,359,678)$ (72,401,902)$ (52,464,298)$ (87,328,912)$ (81,887,473)$
3,618,044 4,377,726 2,563,497 (13,345,929) (865,061) 2,842,815
(66,740,576)$ (69,981,952)$ (69,838,405)$ (65,810,227)$ (88,193,973)$ (79,044,658)$
Page 190
2008 2009 2010 2011
GENERAL REVENUES AND OTHER
CHANGES IN NET POSITION
Governmental Activities
Taxes
Property taxes 37,030,734$ 33,863,907$ 34,759,914$ 40,146,639$
Other taxes 7,213,927 12,659,075 12,962,485 13,257,071
Sales taxes 18,649,183 11,943,633 12,336,353 12,792,723
Income taxes 4,207,152 3,612,282 3,497,759 3,823,315
Intergovernmental 1,486,645 2,519,306 2,772,575 2,502,500
Investment income 2,234,453 975,360 731,839 397,478
Miscellaneous 3,301,455 611,793 470,187 464,084
Gain on sale of capital assets - - - -
Transfers 287,180 4,399,659 1,777,004 (2,755,391)
Total Governmental Activities 74,410,729 70,585,015 69,308,116 70,628,419
Business-Type Activities
Investment income 232,871$ 60,349$ 24,419$ 26,807$
Miscellaneous 35,148 28,928 (18,808) 7,479
Gain on sale of capital assets - - - -
Gain on legal settlement - - - -
Transfers (287,180) (4,399,659) (1,723,932) 2,755,391
Total Business-Type Activities (19,161) (4,310,382) (1,718,321) 2,789,677
TOTAL PRIMARY GOVERNMENT 74,391,568$ 66,274,633$ 67,589,795$ 73,418,096$
CHANGE IN NET POSITION
Governmental Activities 2,947,541$ 395,277$ (6,471,721)$ 4,242,675$
Business-Type Activities 1,473,660 (894,577) 488,945 7,384,916
TOTAL PRIMARY GOVERNMENT
CHANGE IN NET POSITION 4,421,201$ (499,300)$ (5,982,776)$ 11,627,591$
Data Source
The Village of Glenview's Comprehensive Annual Financial Report.
Fiscal Year
VILLAGE OF GLENVIEW
CHANGE IN NET POSITION (cont.)
Last Ten Fiscal Years
Page 191
2012 2013 2014 2015 2016 2017
37,275,705$ 37,383,036$ 40,785,102$ 41,564,097$ 44,672,858$ 46,558,256$
13,495,498 13,944,053 14,406,764 14,460,977 14,367,678 14,885,856
13,091,218 13,833,697 14,972,367 15,635,705 16,189,240 17,223,884
3,962,313 4,309,714 4,232,425 4,832,506 4,293,596 4,075,812
2,614,374 2,739,777 2,839,239 2,950,181 3,174,289 3,380,756
860,108 785,925 1,407,626 667,765 1,145,352 1,291,016
1,562,876 4,104,857 1,703,769 1,701,143 4,075,921 1,953,561
- - - - - 2,558,900
827,016 822,322 1,313,328 11,000,896 971,962 802,279
73,689,108 77,923,381 81,660,620 92,813,270 88,890,896 92,730,320
33,790$ 27,046$ (153,614)$ 15,093$ 9,637$ -$
41,947 6,290 21,553 15,942,418 7,794 18,249
- - - - - 246,810
- 1,571,012 - - - -
(827,016) (822,322) (1,313,328) (11,000,896) (971,962) (802,279)
(751,279) 782,026 (1,445,389) 4,956,615 (954,531) (537,220)
72,937,829$ 78,705,407$ 80,215,231$ 97,769,885$ 87,936,365$ 92,193,100$
3,330,488$ 3,563,703$ 9,258,718$ 40,348,972$ 1,561,984$ 10,842,847$
2,866,765 5,159,752 1,118,108 (8,389,314) (1,819,592) 2,305,595
6,197,253$ 8,723,455$ 10,376,826$ 31,959,658$ (257,608)$ 13,148,442$
Page 192
VILLAGE OF GLENVIEW
FUND BALANCES OF GOVERNMENTAL FUNDS
Last Ten Fiscal Years
Fiscal Year 2008 2009 2010 2011
GENERAL FUND
Reserved 236,776$ 82,583$ 82,593$ -$
Unreserved 15,965,220 20,044,782 21,994,901 -
Nonspendable - - - 131,424
Committed - - - -
Assigned - - - -
Unassigned - - - 24,086,602
TOTAL GENERAL FUND 16,201,996$ 20,127,365$ 22,077,494$ 24,218,026$
ALL OTHER GOVERNMENTAL FUNDS
Reserved 66,882,660$ 59,293,215$ 49,720,438$ -$
Unreserved, reported in
Special revenue funds 1,495,858 1,832,064 (921,028) -
Capital project funds 14,453,200 10,053,987 10,057,896 -
Debt service funds (77,170) 15,676 30,942 -
Nonspendable - - - -
Restricted - - - 52,257,800
Assigned - - - -
Unassigned - - - -
TOTAL ALL OTHER
GOVERNMENTAL FUNDS 82,754,548$ 71,194,942$ 58,888,248$ 52,257,800$
TOTAL GOVERNMENTAL FUNDS 98,956,544$ 91,322,307$ 80,965,742$ 76,475,826$
Note: The Village implemented GASB Statement No. 54 for the year ended December 31, 2011. This resulted in a change in
fund balance classification. The Village has not elected to report this change retroactively.
Data Source
The Village of Glenview's Comprehensive Annual Financial Report.
Page 193
2012 2013 2014 2015 2016 2017
-$ -$ -$ -$ -$ -$
- - - - - -
195,280 87,738 176,110 499,800 155,205 128,795
- 1,700,000 850,000 - - -
- 3,208,020 5,364,276 - - 3,100,000
25,564,806 26,823,063 24,306,476 25,739,072 25,335,141 26,530,097
25,760,086$ 31,818,821$ 30,696,862$ 26,238,872$ 25,490,346$ 29,758,892$
-$ -$ -$ -$ -$ -$
- - - - - -
- - - - - -
- - - - - -
64,508 53,289 42,070 30,851 19,633 8,414
45,978,154 11,484,242 2,407,413 2,194,487 2,906,999 3,657,835
- 42,275,455 31,933,727 34,155,883 31,341,543 30,339,651
- - (13,171,320) (11,572,271) (8,935,926) (6,619,132)
46,042,662$ 53,812,986$ 21,211,890$ 24,808,950$ 25,332,249$ 27,386,768$
71,802,748$ 85,631,807$ 51,908,752$ 51,047,822$ 50,822,595$ 57,145,660$
Page 194
VILLAGE OF GLENVIEW
CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS
Last Ten Fiscal Years
2008 2009 2010 2011
REVENUES
Taxes 49,775,754$ 46,522,982$ 47,721,989$ 53,403,710$
Intergovernmental 23,994,061 23,236,550 25,493,952 26,342,403
Charges for services 3,879,939 5,787,188 6,892,913 6,111,175
Licenses and permits 1,492,506 2,441,730 3,190,826 1,859,161
Fines and forfeitures 174,506 189,433 134,783 181,361
Investment income 2,234,453 975,370 731,839 397,478
Miscellaneous
Land sales 3,126,283 - - -
Other 175,172 46,804 219,046 205,014
Total revenues 84,852,674 79,200,057 84,385,348 88,500,302
EXPENDITURES
General government 26,494,899 27,133,683 29,090,926 31,153,019
Public safety 26,685,166 25,745,800 27,884,435 25,710,435
Public works 7,656,205 7,918,533 7,811,605 7,883,609
Development 3,892,684 6,058,864 5,723,642 4,293,220
Debt service
Principal 9,335,000 9,660,000 9,740,000 10,051,617
Interest and fiscal charges 6,011,806 5,304,081 4,246,896 3,762,159
Bond issuance costs - 37,153 - 38,818
Capital outlay 9,593,304 8,858,147 12,030,923 8,336,649
Total expenditures 89,669,064 90,716,261 96,528,427 91,229,526
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES (4,816,390) (11,516,204) (12,143,079) (2,729,224)
OTHER FINANCING SOURCES (USES)
Transfers in 20,474,754 19,116,695 15,678,978 31,368,232
Transfers out (18,499,070) (15,420,632) (13,901,974) (33,163,914)
Bonds Issued - 39,838,247 - 11,035,000
Premium on bonds issued - - - -
Discount on bonds issued - - - -
Payment to escrow agent - (39,652,343) - (11,000,000)
Proceeds from capital lease - - - -
Sale of capital assets - - 9,500 -
Total Other Financing Sources (Uses)1,975,684 3,881,967 1,786,504 (1,760,682)
NET CHANGE IN FUND BALANCES (2,840,706)$ (7,634,237)$ (10,356,575)$ (4,489,906)$
DEBT SERVICE AS A PERCENTAGE OF
NONCAPITAL EXPENDITURES 17.87% 18.33% 16.55% 15.71%
Data Source
The Village of Glenview's Comprehensive Annual Financial Report.
Fiscal Year
Page 195
2012 2013 2014 2015 2016 2017
50,771,203$ 51,327,089$ 55,191,866$ 56,025,074$ 59,040,536$ 61,444,112$
24,796,132 25,747,882 28,843,610 47,874,058 29,203,967 31,357,689
6,519,625 8,082,885 9,789,188 11,784,003 10,235,729 12,664,145
1,923,238 4,461,768 5,103,571 3,208,298 2,088,538 2,451,693
224,198 228,419 255,899 164,673 209,062 211,592
422,751 341,472 399,971 306,361 544,236 996,459
- - - - - -
709,998 486,493 796,354 120,603 2,503,274 261,396
85,367,145 90,676,008 100,380,459 119,483,070 103,825,342 109,387,086
38,411,652 35,582,816 36,391,244 38,168,909 39,187,095 40,680,381
26,369,673 26,687,294 27,212,096 28,421,350 29,601,085 29,578,436
7,036,995 7,489,675 9,523,902 9,260,772 10,229,806 8,755,999
1,261,328 1,016,437 4,078,982 3,947,132 3,992,133 3,704,509
8,208,235 30,983,776 32,364,371 17,975,309 8,230,309 9,000,309
3,279,464 2,761,174 2,388,883 2,263,186 1,923,782 1,827,110
139,044 61,176 - 20,250 - -
6,060,977 8,253,623 34,631,202 43,130,127 12,108,321 13,184,473
90,767,368 112,835,971 146,590,680 143,187,035 105,272,531 106,731,217
(5,400,223) (22,159,963) (46,210,221) (23,703,965) (1,447,189) 2,655,869
6,281,471 13,052,864 16,557,993 33,455,261 9,514,205 11,740,499
(5,702,833) (11,837,724) (12,684,506) (21,593,677) (8,292,243) (10,534,303)
40,395,000 38,575,000 6,529,688 10,000,000 - -
- (11,539) - - - -
4,432,391 69,535 - - - -
(44,678,884) - - - - -
- - - 981,451 - -
- (3,859,114) 2,083,991 - - 2,461,000
727,145 35,989,022 12,487,166 22,843,035 1,221,962 3,667,196
(4,673,078)$ 13,829,059$ (33,723,055)$ (860,930)$ (225,227)$ 6,323,065$
13.28% 31.21% 28.34% 18.65% 10.31% 11.16%
Page 196
VILLAGE OF GLENVIEW
ASSESSED VALUE AND ACTUAL VALUE OF TAXABLE PROPERTY
Last Ten Levy Years
Levy Residential Commercial Industrial
Year Property Property Property Railroad Farm
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 -
2016 1,882,037,642 473,291,035 105,639,846 631,074 -
Data Source
Office of the County Clerk
Note : Property in the Village is reassesed each year. Property is assessed at 33% of actual value.
Page 197
Total Estimated Estimated
Total Taxable Direct Actual Actual
Assessed Tax Taxable Taxable
Value Rate Value Value
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%
2,461,599,597 4.93 7,384,798,791 33.333%
Page 198
VILLAGE OF GLENVIEW
DIRECT AND OVERLAPPING PROPERTY TAX RATES
Last Ten Levy Years
2007 2008 2009 2010 2011
Village of Glenview
Corporate 0.184 0.174 0.148 0.162 0.177
Bonds and interest 0.072 0.068 0.068 0.076 0.084
Police pension 0.049 0.040 0.060 0.065 0.074
Fire pension 0.064 0.068 0.085 0.105 0.120
Total direct tax rate 0.369 0.350 0.361 0.408 0.455
Glenview Public Library 0.149 0.195 0.210 0.253 0.303
Glenview Special Service Area #9 0.227 0.200 0.093 - -
Glenview Special Service Area #10 0.238 0.209 0.100 - -
Glenview Special Service Area #11 0.127 0.175 - - -
Glenview Special Service Area #12 0.172 0.159 - - -
Glenview Special Service Area #17 0.192 0.192 0.177 0.210 0.115
Glenview Special Service Area #18 0.269 0.242 0.221 0.280 0.148
Glenview Special Service Area #20 0.180 0.160 0.155 0.165 -
Glenview Special Service Area #22 0.137 0.129 0.117 0.142 -
Glenview Special Service Area #32 0.075 0.068 0.073 0.074 0.082
Glenview Special Service Area #33 0.349 0.308 0.287 0.333 0.370
Glenview Special Service Area #35 0.243 0.207 0.204 0.223 0.233
Glenview Special Service Area #36 0.143 0.127 0.108 0.138 0.153
Glenview Special Service Area #37 0.122 0.118 0.102 0.117 0.133
Glenview Special Service Area #38 - - - 0.844 0.894
Glenview Special Service Area #40 - - - - 0.079
Glenview Special Service Area #41 - - - - 0.079
Glenview Special Service Area #42 - - - 0.406 0.440
Glenview Special Service Area #43 - - - - 0.122
Glenview Special Service Area #44 - - - - 0.168
Glenview Special Service Area #45 - - - - 0.444
Glenview Special Service Area #46 - - - - 0.598
Glenview Special Service Area #47 - - - 0.546 0.568
Glenview Special Service Area #49 - - - - 0.241
Glenview Special Service Area #50 - - - - 0.130
Glenview Special Service Area #51 - - - - 0.279
Glenview Special Service Area #52 - - - - 0.141
Glenview Special Service Area #53 - - - - 1.035
Glenview Special Service Area #54 - - - - 0.695
Glenview Special Service Area #55 - - - 0.423 0.410
Glenview Special Service Area #56 - - - 0.903 0.971
Glenview Special Service Area #57 - - - 0.538 0.566
Glenview Special Service Area #61 - - - - 0.188
Glenview Special Service Area #62 - - 0.165 0.213 0.228
Glenview Special Service Area #63 - - 0.183 0.232 0.245
Glenview Special Service Area #81 - - - - -
Glenview Special Service Area #90 - - - - -
Glenview Special Service Area #95 - - - - -
Tax Levy Year
Page 199
2012 2013 2014 2015 2016
0.188 0.203 0.176 0.162 0.156
0.083 0.095 0.091 0.092 0.075
0.073 0.098 0.098 0.127 0.103
0.139 0.157 0.188 0.203 0.159
0.482 0.553 0.553 0.584 0.493
0.347 0.396 0.394 0.415 0.343
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
0.087 0.066 - - -
0.391 0.422 - - -
0.248 0.344 0.328 0.335 0.255
0.162 0.181 - - -
0.141 0.159 - - -
0.854 1.250 1.210 1.260 1.038
0.085 0.094 0.094 0.098 0.074
0.086 0.094 0.079 0.084 0.063
0.470 0.586 0.575 0.585 0.524
0.130 0.138 0.138 0.140 0.113
0.191 0.221 0.212 0.210 0.168
0.446 0.477 0.467 0.470 0.371
0.550 0.553 0.581 0.624 0.471
0.605 0.775 0.713 0.724 0.596
0.261 0.312 0.312 0.318 0.245
0.140 0.153 0.150 0.160 0.129
0.297 0.354 0.349 0.351 0.249
0.151 0.170 0.168 0.174 0.156
1.206 1.296 1.263 1.163 0.800
0.739 0.796 0.751 0.698 0.480
0.378 0.430 0.379 0.426 0.332
1.022 1.185 1.090 1.210 0.996
0.586 0.677 0.668 0.682 0.592
0.201 0.232 0.228 0.241 0.175
0.239 0.280 0.272 0.332 0.269
0.257 0.273 0.271 0.322 0.238
- - - - 0.310
- - - - 0.083
- - - 0.917 0.848
(Continued)
Page 200
VILLAGE OF GLENVIEW
DIRECT AND OVERLAPPING PROPERTY TAX RATES
Last Ten Levy Years
2007 2008 2009 2010 2011
Avoca School District #37 1.594 1.755 1.698 2.022 2.281
County Consolidated Elections 0.012 - 0.021 - 0.025
County of Cook 0.446 0.415 0.394 0.423 0.462
East Maine School District #63 2.276 2.233 2.235 2.499 2.775
Forest Preserve District 0.053 0.051 0.049 0.051 0.058
Glenview Park District 0.429 0.429 0.422 0.483 0.538
Glenview School District #34 1.953 1.909 1.876 2.160 2.429
Golf School District #67 1.859 1.807 1.943 2.203 2.449
Maine High School #207 1.602 1.577 1.617 1.782 1.995
Maine Township - General 0.065 0.064 0.067 0.075 0.085
Maine Township - General Assistance 0.002 0.015 0.016 0.018 0.021
Maine Township - Road and Bridge 0.034 0.033 0.034 0.038 0.043
Metropolitan Water Reclamation Dist.0.263 0.252 0.261 0.274 0.320
New Trier High School #203 1.299 1.290 1.237 1.474 1.674
New Trier Township - General 0.031 0.031 0.030 0.037 0.042
New Trier Township - General Assistance 0.003 0.003 0.003 0.004 0.005
Niles High School #219 2.114 2.120 2.267 2.538 2.904
Niles Township - General 0.027 0.027 0.029 0.032 0.037
Niles Township - General Assistance 0.003 0.003 0.003 0.004 0.005
North Shore Mosquito Abatement 0.008 0.008 0.008 0.009 0.010
Northbrook School District #30 2.138 2.089 2.089 2.327 2.641
Northfield High School #225 1.403 1.383 1.395 1.609 1.819
Northfield Township - General 0.010 0.009 0.010 0.013 0.020
Oakton Community College #535 0.141 0.140 0.140 0.160 0.196
West Northfield School District #31 1.405 1.402 1.494 1.730 2.018
Wilmette School District #39 1.848 1.812 1.716 2.314 2.620
Northfield Township - Road and Bridge 0.030 0.030 0.031 0.036 0.041
Northfield Township - General Assistance 0.008 0.009 0.010 0.011 0.008
Northfield Woods Sanitary District 0.049 0.049 0.054 0.067 0.079
North Maine Fire Protection District 0.882 0.986 1.112 1.254 1.366
Northbrook Park District 0.342 0.332 0.334 0.375 0.424
Oak Meadow Sanitary District 0.004 0.037 0.038 0.045 0.051
Northwest Mosquito Abatement 0.008 0.008 0.008 0.009 0.010
Data Source
Office of the County Clerk
*Property tax rates are per $100 of assessed valuation
Tax Levy Year
Page 201
2012 2013 2014 2015 2016
2.557 2.762 2.957 3.094 2.662
- 0.031 - - -
0.531 0.560 0.568 0.552 0.533
3.100 3.864 3.811 4.040 3.492
0.063 0.069 0.069 0.069 0.063
0.579 0.662 0.661 0.684 0.563
2.706 3.129 3.173 3.291 2.719
2.961 3.497 3.427 3.552 2.957
2.215 2.722 2.739 2.901 2.507
0.096 0.120 0.119 0.124 0.108
0.023 0.029 0.029 0.031 0.027
0.049 0.061 0.062 0.065 0.056
0.370 0.417 0.430 0.426 0.406
1.864 2.111 2.268 2.380 1.974
0.047 0.054 0.055 0.058 0.049
0.006 0.007 0.007 0.008 0.007
3.256 3.707 3.650 3.891 3.460
0.042 0.049 0.050 0.052 0.046
0.006 0.007 0.007 0.008 0.007
0.010 0.007 0.011 0.012 0.010
2.999 3.381 3.272 3.394 2.866
2.028 2.341 2.367 2.493 2.106
0.024 0.031 0.032 0.028 0.024
0.219 0.256 0.258 0.271 0.231
2.525 2.946 2.911 3.107 2.699
2.922 3.229 3.356 3.502 2.840
0.046 0.053 0.054 0.057 0.049
0.009 0.008 0.007 0.007 0.006
0.082 0.098 0.099 0.098 0.088
1.452 1.814 1.815 1.906 1.664
0.471 0.536 0.537 0.569 0.423
0.056 0.066 0.067 0.069 0.059
0.011 0.013 0.013 0.011 0.010
Page 202
VILLAGE OF GLENVIEW
PRINCIPAL PROPERTY TAXPAYERS
Current Year and Nine Years Ago
2017 2008
Percentage Percentage
of Total of Total
Village Village
Taxable Taxable Taxable Taxable
Assessed Assessed Assessed Assessed
Taxpayer Value Rank Valuation Value Rank Valuation
Illinois Tool Corp 34,722,899 $ 1 1.41% $
CLF (formerly Grubb & Ellis)27,333,849 2 1.11% 31,475,168 2 1.08%
The Glenview Center 21,700,756 3 0.88%
Astella US Holdings 20,507,556 4 0.83%
Northshore University 18,144,758 5 0.74%
Abt Electronics 16,429,544 6 0.67% 18,332,097 7 0.63%
Thomson Reuters Pts
(formerly Cole Real Estate)12,990,043 7 0.53%
Cambridge Realty Capital 12,354,599 8 0.50%
Kimco Realty Corp.12,100,932 9 0.49%
Signode, Division of ITW 11,910,099 10 0.48% 25,532,407 3 0.88%
Kraft USA 54,145,496 1 1.86%
VI Communities
(formerly Classic Residence - Hyatt)23,699,845 4 0.81%
Anixter, Inc.18,842,029 5 0.65%
Mid American Asset 18,811,090 6 0.65%
GRE Prairie Glen LLC 13,803,253 8 0.47%
Von Maur Inc 13,473,937 9 0.46%
Capmark Finance 13,279,640 10 0.46%
188,195,035 $ 7.64% 231,394,962 $ 7.95%
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.
Page 203
VILLAGE OF GLENVIEW
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
2007 2008 13,919,457 13,398,159 96.25% 110,490 13,508,649 97.05%
2008 2009 15,858,539 15,345,443 96.76% 127,811 15,473,254 97.57%
2009 2010 17,136,858 16,810,757 98.10% (124,381) 16,686,376 97.37%
2010 2011 17,919,376 17,269,565 96.37% 257,987 17,527,552 97.81%
2011 2012 18,561,309 18,202,205 98.07% 66,132 18,268,337 98.42%
2012 2013 18,977,508 18,647,991 98.26% 94,524 18,742,515 98.76%
2013 2014 19,213,934 18,997,309 98.87% (21,836) 18,975,473 98.76%
2014 2015 19,401,829 19,017,834 98.02% 66,301 19,084,135 98.36%
2015 2016 20,103,470 19,871,822 98.85% 135,658 20,007,480 99.52%
2016 2017 20,553,974 20,404,588 99.27% - 20,404,588 99.27%
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 Total Collections
Fiscal Year after the Levy Per Levy
Page 204
VILLAGE OF GLENVIEW
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*
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 4.48% 2,341
2014 68,093,601 6,931,805 - 1,515,810 933,950 77,475,166 3.32% 1,706
2015 60,984,345 5,601,496 - 767,957 3,003,592 70,357,390 2.96% 1,550
2016 53,732,671 4,271,187 - - 6,829,143 64,833,001 2.70% 1,410
2017 45,983,788 2,940,880 - - 6,547,854 55,472,522 2.14% 1,191
Source: The Village of Glenview's Comprehensive Annual Financial Report.
* Additional demographic information is available in the schedule of Demographic and Economic Statistics .
Page 205
VILLAGE OF GLENVIEW
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)
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
2017 45,983,788 - 45,983,788 1.87%988
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.
Page 206
VILLAGE OF GLENVIEW
DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT
As of December 31, 2017
Percentage Village of
Debt Applicable Glenview
to the Village of Share
Governmental unit Debt Glenview (1)of Debt
Direct Bonded Debt
Village of Glenview 45,983,788 $ 100.00%45,983,788 $
Overlapping Bonded Debt
Glenview Special Service Areas 2,289,645 100.00% 2,289,645
Glenview Park District 10,956,000 84.96% 9,308,218
Northbrook Park District 2,060,000 0.24% 4,944
Cook County, including Forest Preserve District 3,243,056,750 1.72% 55,780,576
Metropolitan Water Reclamation District 2,461,599,597 1.75% 43,077,993
School Districts
Elementary School Districts
Avoca School District No. 37 2,525,000 8.71% 219,928
East Maine School District No. 63 13,640,000 4.31% 587,884
Glenview School District No. 34 16,140,000 89.48% 14,442,072
Golf School District No. 67 9,693,951 12.45% 1,206,897
Northbrook School District No. 30 34,800,000 31.92% 11,108,160
West Northfield School District No. 31 2,660,000 49.13% 1,306,858
Wilmette School District No. 39 9,845,000 4.73% 465,669
High School Districts
Maine Township District No. 207 14,540,000 1.02% 148,308
New Trier Township District No. 203 85,690,000 2.38% 2,039,422
Niles Township District No. 219 128,098,952 1.08% 1,383,469
Northfield Township District No. 225 78,955,074 42.57% 33,611,175
Community College District
Oakton Community College No. 535 33,965,000 11.04% 3,749,736
Total overlapping bonded debt 6,150,514,969 180,730,952
Total direct and overlapping bonded debt 6,196,498,757 $ 226,714,740 $
Source: Cook County Clerk as of 12/31/16
(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 2015
real property valuations.
Page 207
VILLAGE OF GLENVIEW
LEGAL DEBT MARGIN INFORMATION
As of December 31, 2017
To date, the Illinois General Assembly has not set limits for home rule municipalities.
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
Page 208
VILLAGE OF GLENVIEW
DEMOGRAPHIC AND ECONOMIC STATISTICS
Last Ten Fiscal Years
Per
Personal Capita
Fiscal Income Personal Unemployment
Year Population (in Thousands)Income Rate
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%
2017 46,559 2,594,128 55,717 3.7%
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)
Page 209
VILLAGE OF GLENVIEW
PRINCIPAL EMPLOYERS
Current Year and Nine Years Ago
% of % of
Number of Total Village Number of Total Village
Employer Rank Employees Population Rank Employees Population
Abt Electronics 1 1,455 3.17% 1 1,050 2.36%
Astellas 2 1,267 2.76%
Glenbrook Hospital 3 1,099 2.39%
Anixter, Inc. 4 968 2.11% 4 700 1.58%
ITW/Signode 5 695 1.51% 5 669 1.51%
Glenview Comm. School Dist 34 6 694 1.51% 6 646 1.45%
Kraft Foods Technology Center 7 550 1.20% 2 1,000 2.25%
Glenbrook South High School 8 433 0.94% 3 767 1.73%
Signode 9 390 0.85%
Glenview Terrace Nursing Home 10 375 0.82%
Zenith Electronics
Scott Foresman (Pearson) 7 500 1.13%
Pioneer Press Inc 8 450 1.01%
Village of Glenview 9 345 0.78%
Guarantee Trust Life Ins 10 320 0.72%
17.26% 14.52%
Source: Illinois Manufacturers Services Directory, Illinois Services Directory and Employer Contact
2017 2008
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VILLAGE OF GLENVIEW
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
Page 211
2011 2012 2013 2014 2015 2016 2017
11 15 15 15 9 9 10
- - - - - - -
13 13 12 13 16 16 14
5 5 5 - - - -
- - - - - - -
- - - - - - -
- - - 21 20 19 18
25 25 20 - - - -
54 58 52 49 45 44 42
71 70 70 70 70 70 70
16 12 12 11 5 5 5
80 80 80 80 80 80 80
2 2 2 1 1 1 1
19 21 27 40 40 42 48
188 185 191 202 196 198 204
6 6 6 6 5 6 6
- - - - - - -
- - - 4 4 4 4
20 21 21 21 21 21 20
21 18 19 19 16 16 16
3 4 4 4 4 4 4
1 1 1 1 1 1 1
51 50 50 55 51 52 51
293 293 293 306 292 294 297
Page 212
VILLAGE OF GLENVIEW
OPERATING INDICATORS BY FUNCTION/PROGRAM
Last Ten Fiscal Years
Function/Program 2008 2009 2010 2011
Public Safety
Police
Physical arrests 1,677 1,475 1,088 571
Parking violations 2,962 3,518 2,998 2,243
Traffic violations 4,101 3,024 2,301 2,446
Fire
Emergency responses
Emergency medical 4,873 4,588 4,653 4,948
Other responses 2,885 2,561 2,249 2,359
Fires extinguished - - 52 28
Fires extinguished (structures)39 11 21 26
Public works
Pothole repairs (hours)2,425 5,910 4,444 3,453
Water
Metered water customers 15,754 15,769 15,781 15,786
Water main breaks 93 96 134 114
Water purchases
(in ten-thousands of gallons)306,164 301,349 292,882 285,877
Average daily consumption 186 183 141 133
Building
Permits issued 2,837 2,376 2,535 2,552
Value of construction
(in thousands of dollars)106,000 $ 133,737 $ 110,191 $ 98,541 $
Data Source
Various Village departments.
Page 213
2012 2013 2014 2015 2016 2017
544 570 506 551 557 544
1,125 2,272 1,922 2,388 1,813 2,509
2,511 2,646 2,352 2,198 3,491 3,214
4,832 4,495 4,860 4,925 5,220 5,668
2,327 2,835 2,821 2,898 3,032 2,968
63 47 39 41 42 67
27 26 32 45 38 41
4,267 4,390 5,182 5,519 4,115 3,918
15,894 15,889 16,050 16,053 16,139 16,243
171 146 102 59 134 91
306,706 289,550 273,095 272,568 288,410 280,038
138 129 120 111 107 103
1,471 1,918 3,503 3,433 2,042 2,457
39,693 $ 164,556 $ 193,829 $ 119,447 $ 110,630 $ 94,337 $
Page 214
VILLAGE OF GLENVIEW
CAPITAL ASSET STATISTICS BY FUNCTION/PROGRAM
Last Ten Fiscal Years
Function/Program 2008 2009 2010 2011 2012
Public Safety
Police
Police stations 1 1 1 1 1
Marked patrol units 18 18 18 18 18
Unmarked patrol units 9 12 12 12 12
Motorcycles 3 4 4 4 4
Civilian vehicles N/A N/A N/A N/A 3
Fire
Fire stations 5 5 5 5 5
Ambulances 4 4 4 4 4
Fire engines 4 6 6 6 6
Aerial ladder truck 1 1 1 1 1
Passenger vehicles N/A N/A N/A N/A 6
Public works
Streets and highways
Arterial street miles 7 18 18 18 18
Residential street miles 126 158 158 158 158
Streetlights 1,800 1,800 1,800 1,800 1,800
Water
Water main miles 230 230 230 230 230
Fire hydrants 2,668 2,713 2,733 2,733 2,733
Storage capacity
(in millions of gallons)18,000 16,050 16,050 16,050 16,050
Wastewater
Sanitary sewer miles 128 128 150 150 150
Storm sewer miles 165 165 262 262 262
Parking facilities
Parking spaces 1,450 1,450 1,450 1,450 2,048
Data Source:
Various Village departments, data varies due to improved GIS capabilities.
N/A - Information is not available
Page 215
2013 2014 2015 2016 2017
1 1 1 1 1
18 18 18 18 18
11 11 11 11 11
4 4 4 4 4
3 3 3 3 3
5 5 5 5 5
4 4 4 4 5
6 6 6 6 6
2 2 2 2 2
6 5 5 2 2
18 18 20 20 20
158 167 167 169 169
1,800 1,800 1,800 1,791 1,791
230 247 230 233 233
2,733 2,823 2,866 2,867 2,867
16,050 16,300 16,300 16,300 16,300
150 150 150 150 150
262 262 262 262 262
2,153 2,153 2,153 2,153 2,153
Page 216