HomeMy Public PortalAboutFY 2018 Certified Comprehensive Annual Financial ReportVillage of Glenview,
Illinois
Comprehensive Annual Financial Report
For the Fiscal Year Ended December 31, 2018
COMPREHENSIVE ANNUAL
FINANCIAL REPORT
OF THE
VILLAGE OF GLENVIEW, ILLINOIS
As of and for the Year Ended December 31, 2018
Prepared by:
Administrative Services - Finance Division
VILLAGE OF GLENVIEW
TABLE OF CONTENTS
As of and for the Year Ended December 31, 2018
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 - 99
VILLAGE OF GLENVIEW
TABLE OF CONTENTS (cont.)
As of and for the Year Ended December 31, 2018
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 100 - 101
Illinois Municipal Retirement Fund - Schedule of Employer Contributions 102 - 103
Police Pension Fund - Schedule of Changes in the Village's Net Pension
Liability and Related Ratios 104 - 105
Police Pension Fund - Schedule of Employer Contributions 106 - 107
Police Pension Fund - Schedule of Investment Returns 108
Firefighters' Pension Fund - Schedule of Changes in the Village's Net Pension
Liability and Related Ratios 109 - 110
Firefighters' Pension Fund - Schedule of Employer Contributions 111 - 112
Firefighters' Pension Fund - Schedule of Investment Returns 113
Other Postemployment Benefit Plan - Schedule of Changes in the Total OPEB
Liability and Related Ratios 114
General Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget
and Actual - General Fund 115
Special Revenue Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget
and Actual - Special Tax Allocation Fund - Major Special Revenue Fund 116
Notes to Required Supplementary Information 117
SUPPLEMENTARY INFORMATION
General Fund
Detailed Schedule of Revenues and Other Financing Sources - Budget and Actual
- General Fund 118 - 120
Detailed Schedule of Expenditures and Other Financing Uses - Budget and Actual -
General Fund 121 - 125
Other Governmental Funds
Combining Balance Sheet - Nonmajor Governmental Funds 126 - 127
Combining Statement of Revenues, Expenditures and Changes in Fund Balances -
Nonmajor Governmental Funds 128 - 129
Detailed Schedule of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Motor Fuel Tax Fund - Nonmajor Special Revenue Fund 130
Foreign Fire Insurance Fund - Nonmajor Special Revenue Fund 131
VILLAGE OF GLENVIEW
TABLE OF CONTENTS (cont.)
As of and for the Year Ended December 31, 2018
SUPPLEMENTARY INFORMATION (cont.)
Police Department Special Account Fund - Nonmajor Special Revenue Fund 132
Waukegan Golf TIF Fund - Nonmajor Special Revenue Fund 133
Corporate Purpose Bonds Fund - Nonmajor Debt Service Fund 134
Capital Projects Fund - Nonmajor Capital Projects Fund 135
Glen Capital Projects Fund - Nonmajor Capital Projects Fund 136
Village Permanent Fund - Major Capital Projects Fund 137
Enterprise Funds
Combining Statement of Net Position - Nonmajor Enterprise Funds 138
Combining Statement of Revenues, Expenses and Changes in Net Position -
Nonmajor Enterprise Funds 139
Combining Statement of Cash Flows - Nonmajor Enterprise Funds 140
Detailed Schedule of Revenues, Expenses and Changes in Net Position - Budget
and Actual (Budgetary Basis)
Wholesale Water Fund - Nonmajor Enterprise Fund 141
Commuter Parking Lot Fund - Nonmajor Enterprise Fund 142
Glenview Water Fund - Major Enterprise Fund 143 - 144
Glenview Sanitary Sewer Fund - Major Enterprise Fund 145
Internal Service Funds
Combining Statement of Net Position - Internal Services Funds 146
Combining Statement of Revenues, Expenses and Changes in Net Position -
Internal Service Funds 147
Combining Statement of Cash Flows - Internal Service Funds 148 - 149
Detailed Schedule of Revenues, Expenses and Changes in Net Position - Budget
and Actual
Capital Equipment Replacement Fund (CERF) - Internal Service Fund 150
Municipal Equipment Repair Fund (MERF) - Internal Service Fund 151
Insurance and Risk Fund - Internal Service Fund 152
Facilities Repair and Replacement Fund (FRRF) - Internal Service Fund 153
Fiduciary Funds
Combining Statement of Fiduciary Net Position - Pension Trust Funds 154
Combining Statement of Changes in Fiduciary Net Position - Pension Trust Funds 155
VILLAGE OF GLENVIEW
TABLE OF CONTENTS (cont.)
As of and for the Year Ended December 31, 2018
SUPPLEMENTARY INFORMATION (cont.)
Detailed Schedule of Changes in Fiduciary Net Position - Budget and Actual
Police Pension Fund - Pension Trust Fund 156
Firefighters' Pension Fund - Pension Trust Fund 157
Combining Statement of Changes in Assets and Liabilities - Agency Funds 158
Glenview Library - Component Unit
Combining Balance Sheet and Statement of Net Position - Glenview Library -
Component Unit 159 - 162
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances
and Statement of Activities - Glenview Library - Component Unit 163 - 164
Detailed Schedule of Revenues, Expenditures, and Changes in Fund Balances -
Budget and Actual - Glenview Library - Component Unit
Library General Fund 165 - 167
Library Debt Service Fund 168
Combining Balance Sheet - Glenview Library - Component Unit - Library Nonmajor
Funds 169 - 170
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances
- Glenview Library - Component Unit - Library Nonmajor Funds 171 - 172
Detailed Schedule of Revenues, Expenditures, and Changes in Fund Balances -
Budget and Actual - Glenview Library - Component Unit - Library Nonmajor
Funds
Library Special Reserve Fund 173
Long-Term Debt Requirements
Illinois Environment Protection Agency Loan 174
General Obligation Refunding Bond Series 2012A 175
General Obligation Refunding Bond Series 2012B 176
General Obligation Bond Series 2013A 177
General Obligation Bond Series 2013B 178
5-Year Loan 179
General Obligation Refunding Bond Series 2016A 180
Advanced Metering Infrastructure Loan 181
Glenview Naval Air Station (GNAS) Redevelopment Area Funds
Combining Balance Sheet 182
Combining Schedule of Revenues, Expenditures, and Changes in Fund Balances 183
VILLAGE OF GLENVIEW
TABLE OF CONTENTS (cont.)
As of and for the Year Ended December 31, 2018
STATISTICAL SECTION
Net Position - Last Ten Fiscal Years 184 - 185
Changes in Net Position - Last Ten Fiscal Years 186 - 189
Fund Balances of Governmental Funds - Last Ten Fiscal Years 190 - 191
Changes in Fund Balances of Governmental Funds - Last Ten Fiscal Years 192 - 193
Assessed Value and Actual Value of Taxable Property - Last Ten Levy Years 194 - 195
Direct and Overlapping Property Tax Rates - Last Ten Levy Years 196 - 199
Principal Property Tax Payers - Current Year and Nine Years Ago 200
Property Tax Levies and Collections - Last Ten Tax Levy Years 201
Ratios of Outstanding Debt by Type - Last Ten Fiscal Years 202
Ratios of General Bonded Debt Outstanding - Last Ten Fiscal Years 203
Direct and Overlapping Governmental Activities Debt 204
Legal Debt Margin Information 205
Demographic and Economic Statistics - Last Ten Fiscal Years 206
Principal Employers - Current Year and Nine Years Ago 207
Full-time Equivalent Employees by Function/Program - Last Ten Fiscal Years 208 - 209
Operating Indicators by Function/Program - Last Ten Fiscal Years 210 - 211
Capital Asset Statistics by Function/Program - Last Ten Fiscal Years 212 - 213
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VILLAGE OF GLENVIEW, ILLINOIS
OFFICERS AND OFFICIALS
December 31, 2018
LEGISLATIVE
James R. Patterson, Jr.
Village President
Philip O’C. White, Trustee Deborah Karton, Trustee
John Hinkamp, Trustee Karim Khoja, Trustee
Michael Jenny, Trustee Kerry D. Cummings, Trustee
Matthew J. Formica
Village Clerk/Treasurer
ADMINISTRATIVE
Matthew J. Formica, Village Manager
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2500 East Lake Avenue Glenview, IL 60026 (847) 904-4370 Fax (847) 724-1518 www.glenview.il.us-
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June 10, 2019
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, 2018 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, 2018. The independent auditor’s report is located at the front of the financial section of this report.
Management’s Discussion and Analysis (MD&A) immediately follows the independent auditor’s report
and provides a narrative introduction, overview, and analysis of the basic financial statements. MD&A
complements this letter of transmittal and should be read in conjunction with it.
Profile of the Village of Glenview
The Village of Glenview, incorporated in 1899, is located in northern Cook County and is 20 miles north
of the City of Chicago. The Village serves a population of approximately 46,000 and is considered to be
a primary government providing a full range of general governmental services. The Village is empowered
to levy a property tax on real property located within its boundaries. It also is empowered by state statute
to extend its corporate limits by annexation, which it has done from time to time.
The Village’s legislative body consists of the Village President and a Board of six Trustees, all elected on
an at-large basis to overlapping four-year terms. The Village Manager is responsible for the day-to-day
operations of the Village. As defined by the Illinois Constitution, the Village of Glenview is a home rule
municipality.
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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, located in the northern corridor of the Chicago metropolitan area, has a well-
established reputation as a preeminent community. 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 2017
assessed valuation, 76.2% was classified as residential, and 23.8% was commercial/industrial.
A number of revenue sources in 2018 showed a sizeable increase over last year. For example, during 2018,
the annual sales tax revenue amount of $18,072,001 was 4.92% higher than the sales tax revenue received
in 2017. Another example is the home rules sales tax increased 5.3% in 2018 from a 2017 amount of
$8,401,525 to the 2018 amount of $8,849,722.
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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 2018. Specifically, in 2001, sales tax revenue related to the Illinois Department
of Revenue’s automotive sales tax category (Automobile and Filling Stations) accounted for 45% of the
Village’s total tax receipts. While this component is still very critical to the Village and generated $4.7
million or 26% of sales tax receipts in 2018, 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’ 2018 strategic goals remained much the
same as they have over the last several years which are fiscal sustainability, infrastructure investment,
challenging the status quo, and commitment to customer service. The Village continues to minimize the
financial burden on Glenview taxpayers, identify cost efficiencies and opportunities, responsibly utilize
Village reserves, develop and ensure the sustainability of a structurally balanced budget, and proactively
design the Village organization in order to maximize the level of service that can be provided with the
current level of resources.
While 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, it should
be noted there remains 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 2019, the Village received over $39,200,000 in federal, state and local funds to support a
number of infrastructure projects. Additionally, the Village has secured $11,000,000 in state and federal
funds for projects scheduled through 2023. Staff continues to have project-ready plans to submit for
outside funding as opportunities are made available.
During 2018, the Village continued to adhere to their General Fund Balance (Reserve) policy of
maintaining an unassigned fund balance at 30%-40% of total expenditures. There is an assigned use of
fund balance of $9,100,000 for capital projects which will be included in the 2019 and 2020 budgets.
Development Initiatives
In 2018, several significant redevelopment projects were approved or constructed as follows:
x 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 to the west near Lehigh Avenue.
Construction began in 2017 and the facility opened in 2018.
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x 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
has started and the building is expected to be operational in 2019.
x Park Place Glenview, a 26-unit residential development consisting of 14 rowhomes, 4 duplexes, and
8 small-lot single-family homes of the former Village Hall site was approved in 2017 and construction
began in 2018. Full occupancy of all the units is expected in early 2020.
x 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 began in 2018 and the building is expected to be occupied in 2019.
x In 2017, Costco Wholesale received approval for 6 new gas pumps to their existing fueling station on
Patriot Boulevard to meet customer demand. In 2018, Costco amended the plan to add four additional
gas pumps, for a total of 22 fueling positions. Construction is expected to be completed in 2019.
x 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 2019.
x Abt Electronics was granted authority in 2017 to construct additional loading docks, a truck service
building, employee parking, and truck parking expansion at 1200 Milwaukee Avenue and these
improvements were completed in 2018.
x A 169-unit rental apartment development for persons 55-years and older was approved in 2017 at 624
Waukegan Road. The four-story, amenity filled project named Avidor Glenview includes a mix of
high-quality building materials and a majority of the parking will be underground, below the building.
Construction began in 2018 with occupancy expected in early 2020.
x Directly north of Avidor is the Children’s Land Day Care, a 14,135 square foot, 1-story day-care
facility, on Milwaukee Avenue was approved in 2018 and is expected to be occupied in the fall of
2019.
x In 2018, an 18,000 square foot new retail building was approved for a Goodwill retail store. The
building is expected to open in early 2019.
x A new 2,400 square foot outlet building was approved for the Glenbrook Marketplace shopping center
in 2018. The drive-thru Starbucks coffee restaurant is proposed to be constructed and opened in 2019.
x In 2018, the Western Golf Association (WGA) received approval for a new 25,000 square foot office
building in the Prairie Glen Corporate Park. The WGA runs the Evans Scholars Foundation for golf
cadies and will sponsor a Web.com golf tournament at the Glen Club. The building construction has
started and is expected to be complete by the end of 2019.
x The Capital Car Wash on Milwaukee Avenue, near Greenwood Road, was approved in 2018 and the
automatic car wash and detailing facility is expected to be open in early 2020.
x Per a voter referendum on the Glenview Community Ice Center at 1851 Landwehr Road, the Park
District is proposing a major remodeling that will see a brand new building surround the remnants of
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To the Honorable Village President and
Members of the Board of Trustees
Village of Glenview, Illinois
Opinions
In our opinion, the financial statements referred to above present fairly, in all material respects, the respective
financial position of the governmental activities, the business-type activities, the discretely presented component
unit, each major fund, and the aggregate remaining fund information of the Village of Glenview, Illinois, as of
December 31, 2018 and the respective changes in financial position and, where applicable, cash flows thereof
for the year then ended in accordance with accounting principles generally accepted in the United States of
America.
Emphasis of Matter
As discussed in Note I, the Village of Glenview adopted the provisions of GASB Statement No. 75, Accounting
and Financial Reporting for Postemployment Benefits Other Than Pensions, effective January 1, 2018. Our
opinions are not modified with respect to this matter.
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the required supplementary
information as listed in the table of contents be presented to supplement the basic financial statements. Such
information, although not a part of the basic financial statements, is required by the Governmental Accounting
Standards Board who considers it to be an essential part of financial reporting for placing the basic financial
statements in an appropriate operational, economic, or historical context. We have applied certain limited
procedures to the required supplementary information in accordance with auditing standards generally accepted
in the United States of America, which consisted of inquiries of management about the methods of preparing the
information and comparing the information for consistency with management's responses to our inquiries, the
basic financial statements, and other knowledge we obtained during our audit of the basic financial statements.
We do not express an opinion or provide any assurance on the information because the limited procedures do
not provide us with sufficient evidence to express an opinion or provide any assurance.
Supplementary Information
Our audit for the year ended December 31, 2018 was conducted for the purpose of forming opinions on the
financial statements that collectively comprise the Village of Glenview's basic financial statements. The
supplementary information for the year ended December 31, 2018 as listed in the table of contents is presented
for purposes of additional analysis and is not a required part of the basic financial statements. Such information
is the responsibility of management and was derived from and relates directly to the underlying accounting and
other records used to prepare the basic financial statements. The information has been subjected to the auditing
procedures applied in the audit of the basic financial statements for the year ended December 31, 2018, and
certain additional procedures, including comparing and reconciling such information directly to the underlying
accounting and other records used to prepare the basic financial statements or to the basic financial statements
themselves, and other additional procedures in accordance with auditing standards generally accepted in the
United States of America. In our opinion, the supplementary information is fairly stated in all material respects, in
relation to the basic financial statements as a whole for the year ended December 31, 2018.
Page 2
To the Honorable Village President and
Members of the Board of Trustees
Village of Glenview, Illinois
We also previously audited, in accordance with auditing standards generally accepted in the United States of
America, the basic financial statements of the Village of Glenview as of and for the year ended December 31,
2017 (not presented herein), and have issued our report thereon dated May 30, 2018, which contained
unmodified opinions on the respective financial statements of the governmental activities, the business-type
activities, the discretely presented component unit, each major fund, and the aggregate remaining fund
information. The supplementary information for the year ended December 31, 2017 are presented for purposes
of additional analysis and are not a required part of the basic financial statements. Such information is the
responsibility of management and was derived from and relates directly to the underlying accounting and other
records used to prepare the 2017 financial statements. The information has been subjected to the auditing
procedures applied in the audit of the 2017 basic financial statements and certain additional procedures,
including comparing and reconciling such information directly to the underlying accounting and other records
used to prepare those financial statements or to those financial statements themselves, and other additional
procedures in accordance with auditing standards generally accepted in the United States of America. In our
opinion, the supplementary information is fairly stated in all material respects in relation to the basic financial
statements as a whole for the year ended December 31, 2017.
Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the Village of Glenview's basic financial statements. The introductory section and statistical section
are presented for purposes of additional analysis and are not a required part of the basic financial statements.
Such information has not been subjected to the auditing procedures applied in the audit of the basic financial
statements, and accordingly, we do not express an opinion or provide any assurance on it.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated June 10, 2019 on our
consideration of the Village of Glenview's internal control over financial reporting and on our tests of its
compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The
purpose of that report is soley to describe the scope of our testing of internal control over financial reporting and
compliance and the results of that testing, and not to provide an opinion on the effectiveness of the Village of
Glenview's internal control over financial reporting or on compliance. That report is an integral part of an audit
performed in accordance with Government Auditing Standards in considering the Village of Glenview's internal
control over financial reporting and compliance.
Oak Brook, Illinois
June 10, 2019
Page 3
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See independent auditors’ report.
Village of Glenview, Illinois
Management’s Discussion and Analysis
December 31, 2018
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, 2018. 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
x The Village’s net position of governmental activities and business-type activities, after prior year
restatement, increased by $11,057,139, or 5.9%, and $1,940,146, or 3.2%, respectively, resulting
in total ending net position for the year of $261,214,533.
x The Village implemented the provisions of Governmental Accounting Standards Board (GASB)
Statement No.75, related to the accounting and financial reporting for the postemployment
benefits other than pensions. The implementation of this pronouncement required a restatement
in the amount of a decrease of $6,723,702 to the 2018 beginning total primary government net
position.
x During the year, government-wide revenues before transfers for the governmental and business-
type activities totaled $133,431,434, while expenses totaled $120,434,149, resulting in the
increase in net position of $12,997,285.
x After prior year restatement, the Village’s net position totaled $261,214,533 on December 31,
2018, an increase of $12,997,285 from the prior fiscal year.
x The ending fund balance for the General Fund equaled $35,850,116, an increase of $6,091,224
primarily due to lower than anticipated budgeted expenditures offset by 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 21-23) provide information about the activities of the Village as a whole
and present a longer-term view of the Village’s finances. Fund financial statements begin on page 24. For
governmental activities, these statements tell how these services were financed in the short term as well
as what remains for future spending. Fund financial statements also report the Village’s operations in
more detail than the government-wide statements by providing information about the Village’s most
significant funds. The remaining statements provide financial information about fiduciary activities for
which the Village acts solely as a trustee or agent for the benefit of those outside of the government.
Government-Wide Financial Statements
The government-wide financial statements provide readers with a broad overview of the Village’s
finances, in a manner similar to a private-sector business. The government-wide financial statements can
be found on pages 21-23 of this report.
Page 5
See independent auditors’ report.
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2018
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, 2018
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 accounting
devices 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, 2018
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 37-99 of this report.
Other Information
In addition to the basic financial statements and accompanying notes, this report also presents certain
required supplementary information concerning the Village’s Illinois Municipal Retirement Fund, police
and fire pension funds, and other post-employment benefit employee pension obligations. The required
supplementary information also contains budget to actual comparison schedules for the General Fund
and major special revenue funds. Required supplementary information can be found on pages 100-114 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
118-158 of this report. Additionally, the combining and individual fund statements for the component unit
can be found on pages 159-172.
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 $261,214,533 at December 31, 2018, compared to $248,217,248 at
December 31, 2017 as restated. 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, 2018 is $89,895,773
which is made up of $1,822,607, $35,976,574 and $52,096,592, respectively. 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 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, 2018, the Village has offset the total net pension liabilities of $89,895,773 with
deferred outflows of $23,766,666 and deferred inflows of $9,756,630. 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.
Page 8
See independent auditors’ report.
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2018
GOVERNMENT-WIDE FINANCIAL ANALYSIS – Continued
A large portion of the Village’s net position, $257,863,097, 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, $4,413,818, 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 ($1,062,382) represents
unrestricted net position.
2018 2017* 2018 2017* 2018 2017*
Current and other assets 124,901,580 $ 108,268,436 $ 11,659,556 $ 11,053,533 $ 136,561,136 $ 119,321,969 $
Capital assets 239,198,435 243,756,226 61,242,548 60,521,974 300,440,983 304,278,200
Total assets 364,100,015 352,024,662 72,902,104 71,575,507 437,002,119 423,600,169
Deferred Outflow of Resources 25,311,803 19,955,904 300,019 1,042,375 25,611,822 20,998,279
Total deferred outflows 25,311,803 19,955,904 300,019 1,042,375 25,611,822 20,998,279
Long-term liabilities 142,208,164 132,895,187 6,784,256 8,548,697 148,992,420 141,443,884
Other liabilities 28,729,607 25,585,693 1,882,509 2,210,511 30,612,116 27,796,204
Total liabilities 170,937,771 158,480,880 8,666,765 10,759,208 179,604,536 169,240,088
Deferred Inflows of Resources 20,643,751 20,261,611 1,151,121 155,798 21,794,872 20,417,409
Total deferred inflows 20,643,751 20,261,611 1,151,121 155,798 21,794,872 20,417,409
Net Position
Net investment in
capital assets 202,699,589 200,207,529 55,163,508 53,974,120 257,863,097 254,181,649
Restricted 4,413,818 3,657,835 - - 4,413,818 3,657,835
Unrestricted (9,283,111) (10,627,289) 8,220,729 7,728,756 (1,062,382) (2,898,533)
Total net position 197,830,296 $ 193,238,075 $ 63,384,237 $ 61,702,876 $ 261,214,533 $ 254,940,951 $
* 2017 Information has not been restated for the implentation of GASB Statement 75
Activities Activities Government
Table 1
Statement of Net Position
As of December 31, 2018 and 2017
Governmental Business-Type Total Primary
Page 9
See independent auditors’ report.
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2018
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, 2018
Revenue 2018 2017* 2018 2017* 2018 2017*
Program revenues
Charges for services 16,747,624 $ 17,252,259 $ 20,057,686 $ 20,137,018 $ 36,805,310 $ 37,389,277 $
Grants and contributions
Operating 2,412,378 2,428,438 - - 2,412,378 2,428,438
Capital 319,461 472,494 - - 319,461 472,494
General Revenue
Taxes
Property 48,082,053 46,558,256 - - 48,082,053 46,558,256
Home rule 8,849,722 8,401,525 - - 8,849,722 8,401,525
Telecommunication 1,684,979 1,841,387 - - 1,684,979 1,841,387
Utility 3,784,457 3,469,381 - - 3,784,457 3,469,381
Other 1,380,018 1,173,563 - - 1,380,018 1,173,563
Intergovernmental
Sales 18,072,001 17,223,884 - - 18,072,001 17,223,884
State income 4,508,718 4,075,812 - - 4,508,718 4,075,812
Local use 1,373,010 1,172,235 - - 1,373,010 1,172,235
Road and bridge 348,250 400,414 - - 348,250 400,414
Property replacement 203,235 248,714 - - 203,235 248,714
Other 1,607,145 1,559,393 - - 1,607,145 1,559,393
Investment income 2,106,936 1,291,016 101,483 18,249 2,208,419 1,309,265
Other general revenues 1,789,755 4,512,461 2,523 246,810 1,792,278 4,759,271
Total revenues 113,269,742 112,081,232 20,161,692 20,402,077 133,431,434 132,483,309
Expenses
General government 42,033,645 42,184,653 - - 42,033,645 42,184,653
Public works 36,999,265 18,850,845 - - 36,999,265 18,850,845
Public safety 15,879,425 34,322,701 - - 15,879,425 34,322,701
Development 6,801,693 4,654,804 - - 6,801,693 4,654,804
Interest on long-term debt 1,581,379 2,027,661 - - 1,581,379 2,027,661
Water services - - 12,902,647 13,118,448 12,902,647 13,118,448
Sanitary sewerage - - 2,152,793 2,292,993 2,152,793 2,292,993
Wholesale water - - 1,404,958 1,393,330 1,404,958 1,393,330
Commuter parking - - 678,344 489,432 678,344 489,432
Total expenses 103,295,407 102,040,664 17,138,742 17,294,203 120,434,149 119,334,867
Change in net position
before transfers 9,974,335 10,040,568 3,022,950 3,107,874 12,997,285 13,148,442
Transfers 1,082,804 802,279 (1,082,804) (802,279) - -
Change in net position 11,057,139 10,842,847 1,940,146 2,305,595 12,997,285 13,148,442
Net position - beginning, as restated 186,773,157 182,395,228 61,444,091 59,397,281 248,217,248 241,792,509
Net position - ending 197,830,296 $ 193,238,075 $ 63,384,237 $ 61,702,876 $ 261,214,533 $ 254,940,951 $
* 2017 Information has not been restated for the implementation of GASB Statement 75
Activities Activities Government
Table 2
Changes in Net Position
For the Fiscal Years Ended December 31, 2018 and 2017
Governmental Business-Type Total Primary
Page 11
See independent auditors’ report.
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2018
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.
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 48.6% of the Village’s General Fund expenditures (including transfers) and approximately
20.3% of enterprise operating costs at December 31, 2018
6) 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.
7) 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, 2018
GOVERNMENT-WIDE FINANCIAL ANALYSIS – Continued
Net position of the Village’s governmental activities increased by 5.9%, or $11,057,139 ($197,830,296 in
2018 compared to $186,773,157 in 2017 restated). This increase is due to a combination of higher than
anticipated revenues offset by a decrease in general obligation debt and increase in net pension liability.
Net position of business-type activities increased 3.2%, or $1,940,146 ($63,384,237 in 2018 compared to
$61,444,091 in 2017 restated). This increase is primarily due to a significant decrease in the net pension
liability.
Governmental Activities
Revenues:
Revenues for governmental activities totaled $113,269,742 at December 31, 2018 and $112,081,232 at
December 31, 2017, an increase of $1,188,510. Some key changes during the year for the governmental
activity revenues are described below:
x Charges for services decreased by $504,635, or 2.9%, from $17,252,259 at December 31, 2017
to $16,747,624 at December 31, 2018.
x Property tax revenues increased by $1,523,797, or 3.3%, from $46,558,256 at December 31,
2017 to $48,082,053 at December 31, 2018.
x Sales tax increased by $848,117, or 4.9%, from $17,223,884 at December 31, 2017 to
$18,072,001 at December 31, 2018.
Page 13
See independent auditors’ report.
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2018
GOVERNMENT-WIDE FINANCIAL ANALYSIS – Continued
Governmental Activities – Continued
The following table graphically depicts the major revenue sources of the Village. It depicts very clearly the
reliance of property taxes and sales taxes to fund governmental activities. It also clearly identifies the less
significant percentage the Village receives from income taxes, telecommunication taxes, and utility taxes.
Charges for Services,
15%
Operating
Grants/Contrib., 2%
Capital
Grants/Contrib., 1%
Property Taxes, 42%
Sales Taxes, 25%
Income Taxes, 4%
Telecomm Taxes, 1%
Utility Taxes, 3%Other General
Revenues, 7%
Revenues by Source - Governmental Activities
December 31, 2018
Page 14
See independent auditors’ report.
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2018
GOVERNMENT-WIDE FINANCIAL ANALYSIS – Continued
Governmental Activities – Continued
For the year ended December 31, 2018, governmental activities expenses totaled $103,295,407, an
increase of $1,254,473, or 1.2% from the 2017 expenses of $102,040,664.
Business-Type activities
Business-Type activities posted total revenues of $20,161,692, while the cost of all business-type
activities totaled $17,138,742. This results in a surplus of $3,022,950 prior to net transfers out of
$1,082,804. In 2017, revenues of $20,402,077 exceed expenses of $17,294,203, resulting in a surplus of
$3,107,874 prior to net transfers out of $802,279.
Revenues
For the fiscal year ended December 31, 2018, revenues for the business-type activities totaled
$20,161,692, a decrease of $240,386, or 1.2%, due primarily to a decrease in wholesale water charges
for services of $273,856.
Expenses
Expenses for the year ended December 31, 2018 totaled $17,138,742 a decrease of $155,461, or 0.90%
over the 2017 expenses of $17,294,203.
Page 15
See independent auditors’ report.
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2018
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 $68,004,705, which is
$10,859,045, or 19%, higher than last year’s total of $57,145,660. Of the $68,004,705 total, $23,855,681,
or approximately 35.1%, of the fund balance constitutes unassigned fund balance.
General Fund
The General Fund reported an increase in fund balance for the year of $6,091,224 or 20.47%, 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, 2018, unassigned fund
balance in the General Fund was $26,626,131 which represents 74% 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% 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, 2018, the Special Tax Allocation Fund reported revenues
in excess of expenditures of $2,958,930, due in large part to property tax revenues coming in over budget
by $2,192,123, expenses coming in over budget by $53,077 and transfers out coming in under budget by
$1,184,501.
Page 16
See independent auditors’ report.
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2018
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, 2018, the Village Permanent Fund reported
revenues in excess of expenditures of $73,504.
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 $2,083,231; the previous fiscal
year reported a surplus of $1,570,282. 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 $37,988,676 at December 31, 2018.
Page 17
See independent auditors’ report.
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2018
FINANCIAL ANALYSIS OF THE GOVERNMENT’S FUNDS – Continued
Proprietary Funds – Continued
The surplus in the current year in the Glenview Sanitary Sewer Fund was $204,587, resulting in ending
net position of $19,847,735. In the prior year the Glenview Sanitary Sewer Fund also reported a surplus
of $202,703. The current year surplus was due in large part due to capital expenses coming in lower than
budget.
GENERAL FUND BUDGETARY HIGHLIGHTS
During 2018, the Village Board approved 6 General Fund budget amendments for the following projects:
x The Board increased the budget for rock salt purchases due to an unusual number of salting
operations needed during the first two months of 2018.
x The Board approved a $48,219.70 transfer from the Permanent Fund to the General Fund for
consulting and design services related to wayfinding signage throughout the Village.
x The Board approved a $400,000 transfer from the Permanent Fund to the General Fund for
opposition funding related to the Amtrak Hiawatha expansion project due to anticipated significant
impacts on the community.
x The Board increased the transfer out to the Capital Projects Fund for the Park Lane Water Main
project which included infrastructure improvements due to continued water main breaks.
x Due to an increase in street light poles being knocked down, the Board approved a budget
amendment to increase expenditures for street light repairs and maintenance. The Village makes
every effort to recover these costs.
x The Board approved an increase to reimbursable expenses related to 911 dispatch consolidation
capital costs of the Villages of Glencoe, Kenilworth, Northfield and Winnetka by $336,548.
General Fund actual revenues (including other financing sources) for the year totaled $73,506,872
compared to budgeted revenues of $69,060,746, a difference of $4,446,126. There are several factors for
this positive variance. The largest variance to budget resides in local taxes being over budget by
$1,370,349 and sales tax being over budget by $898,456. Another contributing factor was an unbudgeted
transfer from the Permanent Fund for $412,347 to cover professional services incurred to fight the Amtrak
Hiawatha train line. Licenses and permits were also over budget by $341,054, the majority of which is
from higher than anticipated building permit fees. Charges for services were higher than budget by
$810,416, having the major contributing revenue items being Joint Dispatch charges of 9-1-1 surcharge
and dispatch service fees.
Page 18
See independent auditors’ report.
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2018
FINANCIAL ANALYSIS OF THE GOVERNMENT’S FUNDS – Continued
GENERAL FUND BUDGETARY HIGHLIGHTS –Continued
The General Fund actual expenditures (including transfers) for the year of $67,415,648 were $3,079,254
lower than budgeted expenditures of $70,494,902. Personnel expenditures were under budget by
$1,056,444 or 3.1% due to staff vacancies within several departments. Contractual services were under
budget by $896,476 or 6.3% primarily due to lower expenses in software licenses, telephone services,
snow and ice maintenance, building inspections and plan review services. Commodities were under
budget by $121,375 or 6.5% mainly due to lower gas and electricity costs compared to budget. Other
Charges were under budget by $866,459 or 11.3% due to lower training, travel costs and reimbursable
expenditures. Interfund Charges were $208,055 or 4.2% under budget as the cost of fuel and routine
maintenance charges for the Village fleet were lower than anticipated.
Original Final
Budget Budget Actual
Revenues
Taxes 26,543,445 $ 26,543,445 $ 27,913,794 $
Intergovernmental 27,283,732 27,283,732 28,521,321
Other 14,361,248 14,361,248 15,786,586
Total revenues 68,188,425 68,188,425 72,221,701
Expenditures (61,940,440) (62,848,089) (59,714,978)
Transfers in 872,321 872,321 1,285,171
Transfers out (7,456,182) (7,646,813) (7,700,670)
Total expenditures and
net transfers (68,524,301) (69,622,581) (66,130,477)
Net change in fund balance (335,876) $ (1,434,156) $ 6,091,224 $
Table 3
General Fund Budgetary Highlights
Page 19
See independent auditors’ report.
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2018
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, 2018 was $300,440,983 (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 60-61 of this
report.
2018 2017 2018 2017 2018 2017
Construction in progress 627,264 $-$-$-$ 627,264 $-$
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 68,696,995 70,802,677 1,752,518 1,837,884 70,449,513 72,640,561
Machinery, equipment and
vehicles 7,191,674 8,527,304 683,116 858,151 7,874,790 9,385,455
Infrastructure 86,323,855 88,067,598 - - 86,323,855 88,067,598
Water system - - 39,756,270 39,081,783 39,756,270 39,081,783
Sanitary sewer system - - 18,482,793 18,176,305 18,482,793 18,176,305
Total 239,198,435 $ 243,756,226 $ 61,242,548 $ 60,521,974 $ 300,440,983 $ 304,278,200 $
Activities Activities Government
Table 4
Capital Assets at Year End
Net of Depreciation
Governmental Business-Type Total Primary
Additions
Construction in progress 627,264 $
Land -
Building and improvements -
Infrastructure, including roadways, etc. 2,054,443
Machinery, equipment and vehicles 218,994
Sanitary sewer system 810,041
Water system 1,916,536
Total 5,627,278 $
Page 20
See independent auditors’ report.
Village of Glenview, Illinois
Management’s Discussion and Analysis (Continued)
December 31, 2018
CAPITAL ASSETS AND DEBT ADMINISTRATION -Continued
Debt Administration
At year-end, the Village had total outstanding debt of $45,333,578 as compared to $55,472,520 the
previous year, a decrease of $10,136,942, or 18.3%, 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
64-67 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 2019
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 in Glenview 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. The financial position of the State of Illinois remains 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 funding from the General Fund to the Capital Improvement Program (CIP) to continue to
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 2019 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.
2018 2017 2018 2017 2018 2017
General obligation bonds 37,645,969 $ 45,983,788 $-$-$ 37,645,969 $ 45,983,788 $
Corporate purpose notes - - 6,079,040 6,547,854 6,079,040 6,547,854
Loans payable 1,610,569 2,940,878 - - 1,610,569 2,940,878
Total debt 39,256,538 $ 48,924,666 $ 6,079,040 $ 6,547,854 $ 45,335,578 $ 55,472,520 $
Business-Type Total Primary
Activities Activities Government
VILLAGE OF GLENVIEW
STATEMENT OF NET POSITION
As of December 31, 2018
Governmental
Activities
Business-type
Activities Totals Glenview Library
ASSETS
Cash and Cash Equivalents $32,099,174 $4,575,227 $36,674,401 $5,041,453
Investments 63,198,392 3,179,187 66,377,579 1,490,600
Receivables (net)
Taxes 20,789,296 -20,789,296 7,784,199
Accounts 384,767 3,817,216 4,201,983 -
Other 1,449,143 12,195 1,461,338 9,015
Prepaid Items 126,855 -126,855 -
Inventories 513,380 75,731 589,111 -
Due from Other Governmental Units 101,912 -101,912 -
Due from Fiduciary Funds 345,140 -345,140 -
Notes Receivable 2,293,667 -2,293,667 -
Lease Receivable 754,000 -754,000 -
Deposits 620,854 -620,854 -
Property Held for Resale 2,225,000 -2,225,000 -
Capital Assets
Land 21,076,696 567,851 21,644,547 5,426,987Land Right of Way 55,281,951 -55,281,951 -
Construction in Progress 627,264 -627,264 -
Other Capital Assets, Net of Depreciation 162,212,524 60,674,697 222,887,221 24,433,310
Total Assets 364,100,015 72,902,104 437,002,119 44,185,564
DEFERRED OUTFLOWS OF RESOURCES
Deferred Charge on Refunding 1,087,557 -1,087,557 863,333
Deferred Outflows Related to Pensions 23,486,164 280,502 23,766,666 535,302
Deferred Outflows Related to OPEB 738,082 19,517 757,599 14,333
Total Deferred Outflows of Resources 25,311,803 300,019 25,611,822 1,412,968
LIABILITIES
Accounts Payable 25,431,710 1,637,767 27,069,477 366,408Accrued Payroll 1,308,508 105,949 1,414,457 186,975
Accrued Interest Payable 104,685 10,132 114,817 56,871
Other Payables 1,483,468 117,386 1,600,854 -
Due to Pension Trusts 3,400 -3,400 -
Refundable Deposits -11,275 11,275 -
Unearned Revenues 397,836 -397,836 -
Noncurrent Liabilities
Due Within One Year 10,310,765 686,207 10,996,972 1,134,568
Due in More Than One Year 131,897,399 6,098,049 137,995,448 17,258,476
Total Liabilities 170,937,771 8,666,765 179,604,536 19,003,298
DEFERRED INFLOWS OF RESOURCES
Property Taxes Levied for Future Periods 11,754,253 -11,754,253 7,780,778
Deferred Inflows Related to Pensions 8,612,825 1,143,805 9,756,630 1,847,914
Deferred Inflows Related to OPEB 276,673 7,316 283,989 5,373
Total Deferred Inflows of Resources 20,643,751 1,151,121 21,794,872 9,634,065
NET POSITION
Net Investment in Capital Assets 202,699,589 55,163,508 257,863,097 13,278,002
Restricted for
Street Improvements 1,854,138 -1,854,138 -
Public Safety 332,126 -332,126 -
Economic Development 2,227,554 -2,227,554 -
Culture and Recreation ---1,403,629
Unrestricted (9,283,111)8,220,729 (1,062,382)2,279,538
TOTAL NET POSITION $ 197,830,296 $ 63,384,237 $ 261,214,533 $ 16,961,169
See accompanying notes to financial statements.
Page 21
VILLAGE OF GLENVIEW
STATEMENT OF ACTIVITIES
For the Year Ended December 31, 2018
Program Revenues
Functions/Programs Expenses
Charges for
Services
Operating
Grants and
Contributions
Capital
Grants and
Contributions
Primary Government
Governmental Activities
General Government $42,033,645 $4,838,551 $-$-
Public Safety 36,999,265 10,013,251 120,049 -
Public Works 15,879,425 1,012,457 2,131,356 -
Development 6,801,693 883,365 160,973 319,461
Interest and Fiscal Charges 1,581,379 ---
Total Governmental Activities 103,295,407 16,747,624 2,412,378 319,461
Business-type Activities
Glenview Water Fund 12,902,647 14,834,822 --
Glenview Sanitary Sewer Fund 2,152,793 2,438,304 --
Wholesale Water Fund 1,404,958 2,087,966 --
Commuter Parking Lot Fund 678,344 696,594 --
Total Business-type Activities 17,138,742 20,057,686 --
Total Primary Government $ 120,434,149 $ 36,805,310 $ 2,412,378 $ 319,461
Component Unit
Glenview Library $ 8,791,206 $ 264,852 $ 1,260,937 $-
General Revenues
Taxes
Property
Home Rule Sales
Telecommunication
Utility
Other
Intergovernmental - unrestricted
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 (as restated)
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
$(37,195,094)$-$(37,195,094)$-
(26,865,965)-(26,865,965)-
(12,735,612)-(12,735,612)-
(5,437,894)-(5,437,894)-
(1,581,379)-(1,581,379)-
(83,815,944)-(83,815,944)-
-1,932,175 1,932,175 -
-285,511 285,511 -
-683,008 683,008 -
-18,250 18,250 -
-2,918,944 2,918,944 -
(83,815,944)2,918,944 (80,897,000)-
---(7,265,417)
48,082,053 -48,082,053 8,285,946
8,849,722 -8,849,722 -
1,684,979 -1,684,979 -
3,784,457 -3,784,457 -
1,380,018 -1,380,018 -
18,072,001 -18,072,001 -
4,508,718 -4,508,718 -
1,373,010 -1,373,010 -
2,158,630 -2,158,630 -
2,106,936 101,483 2,208,419 132,360
52,458 -52,458 -
1,737,297 2,523 1,739,820 794
93,790,279 104,006 93,894,285 8,419,100
1,082,804 (1,082,804)--
11,057,139 1,940,146 12,997,285 1,153,683
186,773,157 61,444,091 248,217,248 15,807,486
$ 197,830,296 $ 63,384,237 $ 261,214,533 $ 16,961,169
See accompanying notes to financial statements.
Page 23
VILLAGE OF GLENVIEW
BALANCE SHEET
GOVERNMENTAL FUNDS
As of December 31, 2018
General Fund
Special Tax
Allocation
Fund
Village
Permanent
Fund
Nonmajor
Governmental
Funds Totals
ASSETS
Cash and Cash Equivalents $15,069,677 $4,440,326 $2,146,369 $5,189,554 $26,845,926
Investments 16,963,869 25,218,003 7,696,070 2,724,100 52,602,042
Receivables (net)
Taxes 20,789,296 ---20,789,296
Accounts 87,730 49,368 -25,650 162,748
Grants 5,457 --76,188 81,645
Accrued Interest 35,813 280,671 85 996 317,565
Other 465,841 -68,305 15,717 549,863
Inventories 123,985 ---123,985
Due from Other Funds 1,233 ---1,233
Due from Other Governments 394 --101,518 101,912
Due from Fiduciary Funds --345,140 -345,140
Notes Receivable -2,293,667 --2,293,667
Lease Receivable --754,000 -754,000
Property Held for Resale --2,225,000 -2,225,000
Advances to Other Funds --15,699,696 -15,699,696
TOTAL ASSETS $ 53,543,295 $ 32,282,035 $ 28,934,665 $ 8,133,723 $122,893,718
See accompanying notes to financial statements.
Page 24
VILLAGE OF GLENVIEW
BALANCE SHEET
GOVERNMENTAL FUNDS
As of December 31, 2018
General Fund
Special Tax
Allocation
Fund
Village
Permanent
Fund
Nonmajor
Governmental
Funds Totals
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES
Liabilities
Accounts Payable $3,451,541 $19,341,516 $-$1,495,520 $24,288,577
Accrued Payroll 1,274,750 10,894 -287 1,285,931
Other Payables 891,205 379 -590,151 1,481,735
Due to Pension Trusts 3,400 ---3,400
Unearned Revenues 318,030 -57,109 -375,139
Advances from Other Funds -15,699,696 --15,699,696
Total Liabilities 5,938,926 35,052,485 57,109 2,085,958 43,134,478
Deferred Inflows of Resources
Property Taxes Levied for Future
Periods 11,754,253 ---11,754,253
Unavailable Grant Revenue ---282 282
Total Deferred Inflows of
Resources 11,754,253 --282 11,754,535
Fund Balances (Deficit)
Nonspendable for Inventory 123,985 ---123,985
Restricted for Street Improvements ---1,854,138 1,854,138
Restricted for Public Safety ---332,126 332,126
Restricted for Economic
Development ---2,227,554 2,227,554
Assigned to Debt Service Funds ---468,727 468,727
Assigned to Capital Project Funds 9,100,000 -28,877,556 1,164,938 39,142,494
Unassigned 26,626,131 (2,770,450)--23,855,681
Total Fund Balances (Deficit)35,850,116 (2,770,450)28,877,556 6,047,483 68,004,705
TOTAL LIABILITIES,
DEFERRED INFLOWS
OF RESOURCES, AND
FUND BALANCES $ 53,543,295 $ 32,282,035 $ 28,934,665 $ 8,133,723 $122,893,718
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, 2018
Total Fund Balances - Governmental Funds $68,004,705
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. 239,198,435
Deferred charge on refunding of debt is not considered to represent a financial
resource and, therefore, is not reported in the funds.1,087,557
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.282
Deferred outflows of resources related to pensions do not relate to current financial
resources and are not reported in the governmental funds.23,486,164
Deferred inflows of resources related to pensions do not relate to current financial
resources and are not reported in the governmental funds.(8,612,825)
Deferred outflows of resources related to OPEB do not relate to current financial
resources and are not reported in the governmental funds.738,082
Deferred inflows of resources related to OPEB do not relate to current financial
resources and are not reported in the governmental funds.(276,673)
Internal service funds are reported in the statement of net position as governmental
activities.15,109,982
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 (37,645,969)
Loan payable (1,610,569)
Total OPEB liability (10,465,159)
Compensated absences (1,462,411)
Accrued interest (104,685)
Net pension liability (89,616,620)
NET POSITION OF GOVERNMENTAL ACTIVITIES $ 197,830,296
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, 2018
General Fund
Special Tax
Allocation
Fund
Village
Permanent
Fund
Nonmajor
Governmental
Funds Totals
REVENUES
Property Taxes $12,214,618 $34,341,818 $-$1,525,617 $48,082,053
Other Taxes 15,699,176 ---15,699,176
Licenses and Permits 2,810,054 ---2,810,054
Fines, Forfeitures and Penalties 130,281 ---130,281
Charges for Services 12,238,955 507,816 --12,746,771
Intergovernmental 28,521,321 160,973 -2,541,835 31,224,129
Investment Income 607,296 640,015 477,187 146,300 1,870,798
Miscellaneous -34,843 9,445 389,866 434,154
Total Revenues 72,221,701 35,685,465 486,632 4,603,618 112,997,416
EXPENDITURES
Current
General Government 17,940,634 23,268,744 --41,209,378
Public Safety 29,782,200 --75,446 29,857,646
Public Works 8,233,133 ---8,233,133
Development 3,740,393 -781 271,630 4,012,804
Capital Outlay 18,618 --9,007,619 9,026,237
Debt Service
Principal -6,965,938 -2,234,371 9,200,309
Interest and Fiscal Charges -1,071,320 -700,740 1,772,060
Total Expenditures 59,714,978 31,306,002 781 12,289,806 103,311,567
Excess (deficiency) of revenues over
expenditures 12,506,723 4,379,463 485,851 (7,686,188)9,685,849
OTHER FINANCING SOURCES (USES)
Transfers In 1,285,171 --9,422,078 10,707,249
Transfers Out (7,700,670)(1,420,533)(412,347)(503)(9,534,053)
Total Other Financing Sources
(Uses)(6,415,499)(1,420,533)(412,347)9,421,575 1,173,196
Net Change in Fund Balances 6,091,224 2,958,930 73,504 1,735,387 10,859,045
FUND BALANCES (DEFICIT) - Beginning
of Year 29,758,892 (5,729,380)28,804,052 4,312,096 57,145,660
FUND BALANCES (DEFICIT) -
END OF YEAR $ 35,850,116 $ (2,770,450)$ 28,877,556 $ 6,047,483 $ 68,004,705
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, 2018
Net change in fund balances - total governmental funds $10,859,045
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 2,900,701
Depreciation is reported in the government-wide financial statements (7,458,492)
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.(16,270)
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 9,200,309
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 467,819
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 60,368
Capital lease 247,199
Accrued interest on debt 19,109
Amortization of deferred charge on refunding (296,247)
Net pension liability (12,418,729)
Deferred outflows of resources related to pensions 4,914,064
Deferred inflows of resources related to pensions (4,748)
Deferred outflows of resources related to OPEB 738,082
Deferred inflows of resources related to OPEB (276,673)
Total OPEB liability (678,629)
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.2,800,231
CHANGE IN NET POSITION OF GOVERNMENTAL ACTIVITIES $ 11,057,139
See accompanying notes to financial statements.
Page 28
VILLAGE OF GLENVIEW
STATEMENT OF NET POSITION
PROPRIETARY FUNDS
As of December 31, 2018
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 $1,875,725 $1,031,585 $1,667,917 $4,575,227 $5,253,248
Investments 2,691,687 243,100 244,400 3,179,187 10,596,350
Receivables
Accounts, Net 2,377,874 656,150 783,192 3,817,216 222,019
Accrued Interest 8,542 74 3,579 12,195 112,403
Grants ----327,667
Other ----60,000
Prepaid Items ----126,855
Inventories 75,731 --75,731 389,395
Deposits ----620,854
Total Current Assets 7,029,559 1,930,909 2,699,088 11,659,556 17,708,791
Noncurrent Assets
Capital Assets
Capital Assets not Being
Depreciated 67,851 -500,000 567,851 -
Capital Assets Being
Depreciated 64,149,107 26,190,814 5,253,732 95,593,653 -
Less: Accumulated
Depreciation (24,541,516)(7,708,024)(2,669,416)(34,918,956)-
Total Noncurrent Assets 39,675,442 18,482,790 3,084,316 61,242,548 -
Total Assets 46,705,001 20,413,699 5,783,404 72,902,104 17,708,791
DEFERRED OUTFLOWS OF
RESOURCES
Deferred Outflows Related to Pensions 228,752 51,750 -280,502 -
Deferred Outflows Related to OPEB 15,641 2,755 1,121 19,517 -
Total Deferred Outflows of
Resources 244,393 54,505 1,121 300,019 -
See accompanying notes to financial statements.
Page 29
VILLAGE OF GLENVIEW
STATEMENT OF NET POSITION
PROPRIETARY FUNDS
As of December 31, 2018
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 $1,153,340 $277,716 $206,711 $1,637,767 $1,143,133
Accrued Payroll 82,808 17,336 5,805 105,949 22,577
Accrued Interest 10,132 --10,132 -
Accrued Expenses 117,118 268 -117,386 1,733
Refundable Deposits 11,275 --11,275 -
Due to Other Funds ----1,233
Claims Payable ----562,974
Unearned Revenues ----22,697
Current Portion of Long-Term
Liabilities 679,738 4,896 1,573 686,207 -
Total Current Liabilities 2,054,411 300,216 214,089 2,568,716 1,754,347
Noncurrent Liabilities
Long-Term Debt
Claims Payable ----844,462
Long-Term Liabilities Due in
More Than One Year 5,965,716 110,143 22,190 6,098,049 -
Total Noncurrent Liabilities 5,965,716 110,143 22,190 6,098,049 844,462
Total Liabilities 8,020,127 410,359 236,279 8,666,765 2,598,809
DEFERRED INFLOWS OF RESOURCES
Deferred Inflows Related to Pensions 934,728 209,077 -1,143,805 -
Deferred Inflows Related to OPEB 5,863 1,033 420 7,316 -
Total Deferred Inflows of
Resources 940,591 210,110 420 1,151,121 -
NET POSITION
Net Investment in Capital Assets 33,596,402 18,482,790 3,084,316 55,163,508 -
Unrestricted 4,392,274 1,364,945 2,463,510 8,220,729 15,109,982
TOTAL NET POSITION $ 37,988,676 $ 19,847,735 $ 5,547,826 $ 63,384,237 $ 15,109,982
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, 2018
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 $14,565,070 $2,364,738 $2,776,482 $19,706,290 $11,897,872
Intergovernmental ----327,667
Miscellaneous 269,752 73,566 8,078 351,396 269,652
Total Operating Revenues 14,834,822 2,438,304 2,784,560 20,057,686 12,495,191
OPERATING EXPENSES
Insurance Services ----7,173,434
Parking Services --596,437 596,437 -
Water Services 11,440,948 -1,342,142 12,783,090 -
Sewerage Services -1,623,052 -1,623,052 -
Capital Asset Repair and Replacement ----1,873,472
Depreciation and Amortization 1,357,727 503,553 144,723 2,006,003 -
Total Operating Expenses 12,798,675 2,126,605 2,083,302 17,008,582 9,046,906
Operating Income 2,036,147 311,699 701,258 3,049,104 3,448,285
NONOPERATING REVENUES
(EXPENSES)
Other Income -2,523 -2,523 -
Investment Income 57,293 10,316 33,874 101,483 236,138
Gain on Sale of Capital Assets ----52,458
Reassignment of Capital Assets ----(846,258)
Interest and Fiscal Charges (103,972)(26,188)-(130,160)-
Total Nonoperating Revenues
(Expenses)(46,679)(13,349)33,874 (26,154)(557,662)
Income Before Transfers 1,989,468 298,350 735,132 3,022,950 2,890,623
TRANSFERS
Transfers In 93,763 --93,763 195,674
Transfers Out -(93,763)(1,082,804)(1,176,567)(286,066)
Total Transfers 93,763 (93,763)(1,082,804)(1,082,804)(90,392)
Change in Net Position 2,083,231 204,587 (347,672)1,940,146 2,800,231
NET POSITION - Beginning of Year (as
restated)35,905,445 19,643,148 5,895,498 61,444,091 12,309,751
NET POSITION - END OF
YEAR $ 37,988,676 $ 19,847,735 $ 5,547,826 $ 63,384,237 $ 15,109,982
See accompanying notes to financial statements.
Page 31
VILLAGE OF GLENVIEW
STATEMENT OF CASH FLOWS
PROPRIETARY FUNDS
For the Year Ended December 31, 2018
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 $14,820,416 $2,385,599 $2,510,950 $19,716,965 $12,036,047
Paid to Suppliers for Goods and
Services (8,814,884)(1,063,711)(1,734,675)(11,613,270)(8,696,140)
Paid to Employees for Services (2,587,968)(515,825)(190,448)(3,294,241)(989,473)
Received from Other Sources 30,367 74,078 -104,445 -
Net Cash Flows From Operating
Activities 3,447,931 880,141 585,827 4,913,899 2,350,434
CASH FLOWS FROM INVESTING
ACTIVITIES
Investment Income 52,459 10,316 36,156 98,931 188,625
Sale of Investments 494,000 -1,745,661 2,239,661 5,674,040
Purchase of Investments (2,691,687)(243,100)(491,900)(3,426,687)(5,139,285)
Net Cash Flows From Investing
Activities (2,145,228)(232,784)1,289,917 (1,088,095)723,380
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES
Transfers In 93,763 --93,763 195,674
Transfers Out -(93,763)(1,082,804)(1,176,567)(286,066)
Net Cash Flows From Noncapital
Financing Activities 93,763 (93,763)(1,082,804)(1,082,804)(90,392)
CASH FLOWS FROM CAPITAL AND
RELATED FINANCING ACTIVITIES
Debt Retired (468,814)--(468,814)-
Interest Paid (104,753)(26,188)-(130,941)-
Proceeds from the Sale of Capital
Assets ----52,458
Acquisition and Construction of Capital
Assets (1,916,536)(1,046,812)-(2,963,348)(111,064)
Net Cash Flows From Capital and
Related Financing Activities (2,490,103)(1,073,000)-(3,563,103)(58,606)
Net Change in Cash and Cash
Equivalents (1,093,637)(519,406)792,940 (820,103)2,924,816
CASH AND CASH EQUIVALENTS -
Beginning of Year 2,969,362 1,550,991 874,977 5,395,330 2,328,432
CASH AND CASH EQUIVALENTS -
END OF YEAR $ 1,875,725 $ 1,031,585 $ 1,667,917 $ 4,575,227 $ 5,253,248
See accompanying notes to financial statements.
Page 32
VILLAGE OF GLENVIEW
STATEMENT OF CASH FLOWS
PROPRIETARY FUNDS
For the Year Ended December 31, 2018
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 $2,036,147 $311,699 $701,258 $3,049,104 $3,448,285
Adjustments to Reconcile Operating
Income to Net Cash Flows From
Operating Activities
Depreciation 1,357,727 503,553 144,723 2,006,003 -
Other Income -2,523 -2,523 -
Changes in assets and liabilities
Accounts Receivable 15,186 18,850 (273,610)(239,574)(453,972)
Inventory 3,026 --3,026 (22,357)
Deposits ----(7,245)
Prepaid Items ----(27,256)
Accounts Payable (91,092)13,525 9,869 (67,698)(296,411)
Customer Deposits 775 --775 -
Claims Payable ----(273,604)
Accrued Salaries (19,361)(3,035)(1,131)(23,527)(4,047)
Compensated Absences Payable 8,168 618 4,388 13,174 -
Due to Other Funds ----(15,032)
Unearned Revenue ----2,073
Deferred Outflows Due to Pensions 622,474 139,399 -761,873 -
Deferred Inflows Due to Pensions 805,367 182,640 -988,007 -
Net Pension Liability (1,295,089)(290,442)-(1,585,531)-
Total OPEB Liability 14,381 2,533 1,031 17,945 -
Deferred Outflows Due to OPEB (15,641)(2,755)(1,121)(19,517)-
Deferred Inflows Due to OPEB 5,863 1,033 420 7,316 -
NET CASH FLOWS FROM
OPERATING ACTIVITIES $ 3,447,931 $ 880,141 $ 585,827 $ 4,913,899 $ 2,350,434
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, 2018
Pension Trust
Funds Agency Fund
ASSETS
Cash and Cash Equivalents $4,036,037 $2,600,329
Investments
U.S. Treasuries 10,910,191 -
U.S. Agencies 28,916,900 -
Mutual Funds 90,756,573 -
Corporate Obligations 13,657,583 -
Municipal Obligations 5,344,054 -
Certificates of Deposit -490,559
Receivables
Property taxes -337,469
Accrued Interest Receivable 377,243 7,635
Due from Primary Government 3,400 -
Prepaid Items 11,043 -
Total Assets 154,013,024 3,435,992
LIABILITIES
Accounts Payable -1,218,981
Refundable Deposits -1,703,227
Accrued Expenses 56,720 -
SSA Bond Fund - Due to Bond Holders -168,644
Due to Primary Government -345,140
Total Liabilities 56,720 3,435,992
NET POSITION
Restricted for Pension Benefits $153,956,304 $-
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, 2018
Pension Trust
Funds
ADDITIONS
Contributions
Employer $6,519,430
Participant 1,565,517
Total Contributions 8,084,947
Investment income
Net Appreciation in Fair Value of Investments (14,517,731)
Interest Income 7,175,298
Total Investment Income (7,342,433)
Less Investment Expense 234,483
Net Investment Income (7,576,916)
Total Additions 508,031
DEDUCTIONS
Retirement Pensions 9,124,713
Widow Pensions 802,903
Disability Pensions 602,444
Children's Pensions 48,270
Contribution Refunds 24,082
Administration 130,894
Total Deductions 10,733,306
Change in Net Position (10,225,275)
NET POSITION - Beginning of Year 164,181,579
NET POSITION - END OF YEAR $ 153,956,304
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, 2018
NOTE Page
I Summary of Significant Accounting Policies 37
A.Reporting Entity 37
B.Government-Wide and Fund Financial Statements 39
C.Measurement Focus, Basis of Accounting, and Financial Statement
Presentation 42
D.Assets, Deferred Outflows of Resources, Liabilities, Deferred Inflows of
Resources, and Net Position or Equity 43
1.Deposits and Investments 43
2.Receivables 48
3.Inventories and Prepaid Items 48
4.Capital Assets 49
5.Deferred Outflows of Resources 50
6.Compensated Absences 50
7.Long-Term Obligations 50
8.Deferred Inflows of Resources 51
9. Equity Classifications 51
II Stewardship, Compliance, and Accountability 53
A.Excess Expenditures Over Appropriations 53
B.Deficit Balances 53
III Detailed Notes on All Funds 54
A.Deposits and Investments 54
B.Receivables 59
C.Capital Assets 60
D.Interfund Receivables/Payables, Advances and Transfers 62
E.Long-Term Obligations 64
F.Lease Disclosures 68
G.Restatement of Net Position 68
H.Component Unit 69
IV Other Information 74
A.Employees' Retirement System 74
B.Risk Management 90
C.Commitments and Contingencies 92
D.Joint Ventures 93
E.Other Postemployment Benefits 94
F.Tax Abatement 98
G.Effect of New Accounting Standards on Current-Period Financial Statements 98
See accompanying notes to financial statements.
Page 36
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
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
management 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, 2018
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, 2018. 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, 2018
NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.)
B. GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS
In June 2015, the GASB issued statement No. 75 - Accounting and Financial Reporting for
Postemployment Benefits Other than Pensions. This statement replaces the requirements of Statements
No. 45, Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than
Pension, as amended and No. 57, OPEB Measurements by Agent Employers and Agent Multiple
Employer Plans, for OPEB. This standard was implemented January 1, 2018.
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.
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.
Page 39
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.)
B.GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS (cont.)
Fund Financial Statements (cont.)
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-Whole" payments to core jurisdictions within the
boundaries of the Tax Increment District. The core jurisdictions consist of: the Village of
Glenview, School District 34, High School District 225, the Glenview Park District, and the
Glenview Public Library, a component unit of the Village. This fund also accounts for the
service and incentive fees within the Tax Increment District.
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.
The Village reports the following major enterprise funds:
Glenview Water 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 - 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.
Page 40
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
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:
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
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 Water 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 Equipment Replacement Fund
Municipal Equipment Repair Fund
Insurance and Risk Fund
Facilities Repair and Replacement Fund
Page 41
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.)
B.GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS (cont.)
Fund Financial Statements (cont.)
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
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.
Page 42
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.)
C.MEASUREMENT FOCUS, BASIS OF ACCOUNTING, AND FINANCIAL STATEMENT PRESENTATION (cont.)
Fund Financial Statements (cont.)
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.
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.
Page 43
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
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, 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.
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.
Page 44
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
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 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 2.50%3.40%
Investment Grade Bonds 40.00%4.80%
U.S. Equity 38.00%9.30%
International Equity 12.50%8.80%
Emerging Markets Equity 1.00%11.40%
Alternatives 6.00%6.40%
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.
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%9.50%2.80%6.70%
Small Cap Domestic Equity 12.00%11.40%2.80%8.60%
International Equity 6.00%9.30%2.80%6.50%
Fixed Income 40.00%4.30%2.80%1.50%
Page 45
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
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.)
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.
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.
Page 46
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
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.)
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.
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.
Page 47
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
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
Property taxes for levy year 2018 attaches as an enforceable lien on January 1, 2018, 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 2018 tax levy, which attached as an enforceable lien on the property as of January
1, 2018, has been recorded as a receivable as of December 31, 2018, as the tax was levied by the Village
on December 4, 2018, and therefore, the levy is measurable at December 31, 2018.
Tax bills for levy year 2018 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 2018 property tax levy is recognized as a
receivable and deferred inflows in fiscal 2018, net the allowance for uncollectible. As the taxes become
available to finance current expenditures, they are recognized as revenues. At December 31, 2018, the
property taxes receivable and related deferred inflows consisted of the estimated amount collectible from
the 2018 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.
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.
Page 48
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
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
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.
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.
Page 49
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
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.)
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.
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 Works Union 80 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.
Page 50
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
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.)
7. Long-Term Obligations/Conduit Debt (cont.)
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.
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.
Page 51
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
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.)
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.
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. When an expenditure is incurred for purposes for which both restricted and unrestricted
fund balance is available, the Village will first use assigned amounts, followed by committed amounts then
restricted amounts.
Page 52
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
NOTE II - STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY
A.EXCESS EXPENDITURES/EXPENSES/DEDUCTIONS OVER BUDGET
Funds
Budgeted
Expenditures/
Expenses/
Deductions
Actual
Expenditures/
Expenses/
Deductions Excess
Special Tax Allocation $31,252,922 $31,306,002 $53,080
Waukegan Golf TIF 936,005 974,688 38,683
Sanitary Sewer 2,244,001 2,433,093 189,092
Police Pension 4,350,741 4,668,479 317,738
B.DEFICIT BALANCES
Generally accepted accounting principles require disclosure of individual funds that have deficit balances
at year end.
As of December 31, 2018, the following individual funds held a deficit balance:
Fund Amount Reason
Special Tax Allocation $(2,770,450)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.
Page 53
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
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
Deposits $65,738,555 $68,164,342
Certificates of deposits - negotiable 5,195,493 5,195,493
The Illinois Funds 13,573,515 13,573,515
U.S. treasuries 13,905,353 13,905,353
U.S. agencies 51,593,081 51,593,081
Municipal obligations 5,344,053 5,344,053
Corporate obligations 13,657,583 13,657,583
Mutual funds 90,756,573 90,756,573
Total Deposits and Investments $259,764,206 $262,189,993
Reconciliation to financial statements
Per statement of net position
Cash and cash equivalents $36,674,401
Investments 66,377,579
Per statement of net position - fiduciary
funds
Cash and cash equivalents - Pension
Trusts
4,036,037
Cash and cash equivalents - Agency
Fund
2,600,329
U.S. treasuries 10,910,191
U.S. agencies - Pension Trusts 28,916,900
Mutual funds 90,756,573
Corporate obligations 13,657,583
Municipal obligations 5,344,054
Certificates of deposit 490,559
Total Deposits and Investments $259,764,206
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.
Page 54
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
NOTE III - DETAILED NOTES ON ALL FUNDS (cont.)
A.DEPOSITS AND INVESTMENTS (cont.)
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.
The Village used the market valuation method for recurring fair value measurements.
As of December 31, 2018, investments were measured using valuation inputs as follows:
Village
December 31, 2018
Investment Type Level 1 Level 2 Level 3 Total
Certificates of deposits - negotiable $-$4,948,734 $-$4,948,734
U.S. treasuries 2,995,162 --2,995,162
U.S. agencies -22,676,181 -22,676,181
Total $ 2,995,162 $ 27,624,915 $-$ 30,620,077
Police Pension Fund
December 31, 2018
Investment Type Level 1 Level 2 Level 3 Total
U.S. treasuries $6,593,621 $-$-$6,593,621
U.S. agencies -7,662,302 -7,662,302
Municipal obligations -563,404 -563,404
Corporate obligations -13,657,583 -13,657,583
Mutual funds 41,763,689 --41,763,689
Total $ 48,357,310 $ 21,883,289 $-$ 70,240,599
Firefighters' Pension Fund
December 31, 2018
Investment Type Level 1 Level 2 Level 3 Total
U.S. treasuries $4,316,570 $-$-$4,316,570
U.S. agencies -21,254,598 -21,254,598
Municipal obligations -4,780,649 -4,780,649
Mutual funds 48,992,884 --48,992,884
Total $ 53,309,454 $ 26,035,247 $-$ 79,344,701
Page 55
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
NOTE III - DETAILED NOTES ON ALL FUNDS (cont.)
A.DEPOSITS AND INVESTMENTS (cont.)
Agency Fund
December 31, 2018
Investment Type Level 1 Level 2 Level 3 Total
Certificates of deposits - negotiable $-$ 246,759 $-$ 246,759
Total $ -$ 246,759 $-$ 246,759
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, 2018, 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 $5,195,493 $-$-$-$-$5,195,493
The Illinois Funds 13,573,515 13,573,515 ----
U.S. agencies 51,593,081 -49,928,603 --1,664,478
Municipal obligations 5,344,053 274,665 3,217,974 50,962 -1,800,452
Corporate obligations 13,657,583 147,052 1,404,843 6,639,516 5,466,172 -
Totals $ 89,363,725 $ 13,995,232 $ 54,551,420 $ 6,690,478 $ 5,466,172 $ 8,660,423
Page 56
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
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 $5,195,493 $-$-$-$-$5,195,493
The Illinois Funds 13,573,515 13,573,515 ----
U.S. agencies 51,593,081 49,804,081 ---1,789,000
Municipal obligations 5,344,053 25,752 2,169,898 465,760 -2,682,643
Corporate obligations 13,657,583 250,540 1,172,648 5,786,379 6,335,003 113,013
Totals $ 89,363,725 $ 63,653,888 $ 3,342,546 $ 6,252,139 $ 6,335,003 $ 9,780,149
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 $7,652,483
Federal Farm Credit Bank 11,152,168
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, 2018, investments were as follows:
Village
Maturity (In Years)
Investment Type Fair Value Less than 1 1-5
Certificates of deposits - negotiable $4,948,734 $994,127 $3,954,607
U.S. treasuries 2,995,162 -2,995,162
U.S. agencies 22,676,181 21,677,080 999,102
Totals $ 30,620,077 $ 22,671,207 $ 7,948,871
Page 57
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
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 $6,593,621 $1,151,788 $4,257,907 $1,183,926 $-
U.S. agencies 7,662,302 1,347,996 4,942,990 646,219 725,097
Municipal obligations 563,404 79,214 433,228 50,963 -
Corporate obligations 13,657,583 591,967 9,667,354 3,398,261 -
Totals $ 28,476,910 $ 3,170,965 $ 19,301,479 $ 5,279,369 $ 725,097
Firefighters' Pension Fund
Maturity (In Years)
Investment Type Fair Value Less than 1 1-5 6-10
U.S. treasuries $4,316,570 $546,297 $3,770,273 $-
U.S. agencies 21,254,598 249,658 7,778,244 13,226,697
Municipal obligations 4,780,649 547,427 2,730,643 1,502,580
Totals $ 30,351,817 $ 1,343,382 $ 14,279,160 $ 14,729,277
Agency Fund
Maturity (In Years)
Investment Type Fair Value Less than 1 1-5
Certificates of deposits - negotiable $ 246,759 $ 246,759 $-
Totals $ 246,759 $ 246,759 $-
Page 58
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
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, 2018, the annual money-weighted rate of return on the Police Pension
plan investments, net of pension plan investment expense, was (4.63)%. 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, 2018, the annual money-weighted rate of return on the Firefighters'
Pension plan investments, net of pension plan investment expense, was (4.72)%. 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 $11,759,671
Sales 7,144,644
Utility 774,927
Income 387,796
Use 434,848
Franchise 201,317
Hotel 73,806
Amusement 12,287
Total $ 20,789,296
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 59
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
NOTE III - DETAILED NOTES ON ALL FUNDS (cont.)
C.CAPITAL ASSETS
Capital asset activity for the year ended December 31, 2018, was as follows:
Beginning
Balance Additions Deletions
Ending
Balance
Governmental Activities
Capital assets not being depreciated
Land $21,076,696 $-$-$21,076,696
Land right of way 55,281,951 --55,281,951
Construction in progress -627,264 -627,264
Total Capital Assets Not
Being Depreciated 76,358,647 627,264 -76,985,911
Capital assets being depreciated
Buildings and improvements 96,028,932 --96,028,932
Machinery and equipment 20,278,464 218,994 210,402 20,287,056
Infrastructure 162,145,536 2,054,443 309,822 163,890,157
Total Capital Assets Being
Depreciated 278,452,932 2,273,437 520,224 280,206,145
Total Capital Assets 354,811,579 2,900,701 520,224 357,192,056
Less: Accumulated depreciation for
Buildings and improvements (25,226,255)(2,105,682)-(27,331,937)
Machinery and equipment (11,751,160)(1,554,624)210,402 (13,095,382)
Infrastructure (74,077,938)(3,798,186)309,822 (77,566,302)
Total Accumulated
Depreciation (111,055,353)(7,458,492)520,224 (117,993,621)
Net Capital Assets Being
Depreciated 167,397,579 (5,185,055)-162,212,524
Total Governmental
Activities Capital
Assets, Net $ 243,756,226 $ (4,557,791)$-$ 239,198,435
Depreciation expense was charged to functions as follows:
Governmental Activities
General government $4,233,156
Public safety 1,601,379
Public works 1,190,687
Development 433,270
Total Governmental Activities Depreciation Expense $ 7,458,492
Page 60
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
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
Land $ 567,851 $-$-$ 567,851
Total Capital Assets Not
Being Depreciated 567,851 --567,851
Capital assets being depreciated
Buildings and improvements 2,971,461 --2,971,461
Water system 60,005,400 1,916,536 155,564 61,766,372
Sanitary sewer system 25,097,627 810,041 2,330 25,905,338
Equipment and vehicles 4,966,742 -16,260 4,950,482
Total Capital Assets Being
depreciated 93,041,230 2,726,577 174,154 95,593,653
Total Capital Assets 93,609,081 2,726,577 174,154 96,161,504
Less: Accumulated depreciation for
Buildings and improvements (1,133,577)(85,366)-(1,218,943)
Water system (20,923,617)(1,242,049)155,564 (22,010,102)
Sanitary sewer system (6,921,322)(503,553)2,330 (7,422,545)
Equipment and vehicles (4,108,591)(175,035)16,260 (4,267,366)
Total Accumulated
Depreciation (33,087,107)(2,006,003)174,154 (34,918,956)
Net Capital Assets Being
depreciated 59,954,123 720,574 -60,674,697
Total Business-type
Capital Assets, Net $ 60,521,974 $ 720,574 $-$ 61,242,548
Business-type Activities
Depreciation expense was charged to functions as follows:
Business-type Activities
Glenview Water Fund $1,357,727
Glenview Sanitary Sewer Fund 503,553
Wholesale Water Fund 62,816
Commuter Parking Fund 81,907
Total Business-type Activities Depreciation Expense $ 2,006,003
Page 61
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
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 $ 1,233
Total - Fund Financial Statements 1,233
Less: Fund eliminations (1,233)
Total Internal Balances - Government-Wide 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 Within One
Year
Village Permanent Special Tax Allocation $ 15,669,696 $15,669,696
Total - Fund Financial Statements 15,669,696
Less: Fund eliminations (15,669,696)
Total - Interfund Advances - Government-Wide Statement
of Net Position $-
Page 62
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
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 $ 503
Transfer of property tax revenue to
the correct fund
General Nonmajor Enterprise 325,000
Transfer to recover overhead costs
associated with running the
Wholesale Water Fund
General Special Tax Allocation 297,321
Transfer is for the maintenance of the
three main stem roads in the Glen
Town Center
General Village Permanent 412,347
Transfer to fund two major programs
during the year: Hiawatha and
Wayfinding signage
General Internal Service 250,000
Transfer to fund a portion of the cost
of operations in the General Fund
Nonmajor Governmental General 7,700,670
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 Nonmajor Enterprise 562,130
Transfer of return on investment that
is used to improve public roadways
as well as for Metra train station
capital improvements
Glenview Water Sanitary Sewer 93,763
Transfer to fund a portion of the AMI
debt payment
Nonmajor Governmental Internal Service 36,066
Transfer of funds to fund the Fire
Station 8 expenditures
Nonmajor Governmental Special Tax Allocation 1,123,212
Transfer of funds to fund
infrastructure projects in the Glen
Town Center
Internal Service Nonmajor Enterprise 195,674 Transfer of funds to fund
infrastructure projects
Total - Fund Financial Statements 10,996,686
Less: Fund eliminations (9,913,882)
Total Transfers - Government-Wide Statement of
Activities $ 1,082,804
Page 63
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
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, 2018, was as follows:
Beginning
Balance (as
restated)Increases Decreases
Ending
Balance
Amounts Due
Within One
Year
Governmental Activities
Bonds and Loans Payable
General obligation debt $43,475,000 $-$7,870,000 $35,605,000 $8,125,000
Loans payable 2,940,878 -1,330,309 1,610,569 1,330,309
Capital lease payable 247,199 -247,199 --
(Discounts)/Premiums
Bond discount (7,343)-(1,049)(6,294)-Bond premium 2,516,131 -468,868 2,047,263 -
Other Liabilities
Compensated absences 1,522,779 1,081,716 1,142,084 1,462,411 292,482
Capital leases 247,199 -247,199 --
Total OPEB liability 9,786,530 1,210,936 532,307 10,465,159 -
Net pension liability 77,197,891 31,535,554 19,116,825 89,616,620 -
Claims payable 1,681,040 464,078 737,682 1,407,436 562,974
Total Governmental
Activities Long-Term
Liabilities $ 139,607,304 $ 34,292,284 $ 31,691,424 $ 142,208,164 $ 10,310,765
Business-type Activities
Notes Payable
Notes Payable $6,547,854 $-$468,814 $6,079,040 $656,340
Other Liabilities
Compensated absences 136,159 115,293 102,119 149,333 29,867
Total OPEB liability 258,785 32,021 14,076 276,730 -
Net pension liability 1,864,684 562,388 2,147,919 279,153 -
Total Business-type
Activities Long-TermLiabilities $ 8,807,482 $ 709,702 $ 2,732,928 $ 6,784,256 $ 686,207
Page 64
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
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,
2018
$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%9,470,000
$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%4,840,000
$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%3,205,000
Total Governmental Activities - General Obligation Debt $ 35,605,000
Page 65
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
NOTE III - DETAILED NOTES ON ALL FUNDS (cont.)
E. LONG-TERM OBLIGATIONS (cont.)
General Obligation Debt (cont.)
Debt service requirements to maturity are as follows:
Governmental Activities
General Obligation Debt
Years Principal Interest
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 2,655,000 284,533
2024-2028 3,330,000 613,640
2029-2033 1,900,000 234,000
Totals $ 35,605,000 $ 4,438,901
Loans and Notes Payable
Loans and Notes Payable at December 31, 2018 consist of the following:
Governmental Activities
Loans and Notes Payable
Repayment
Fund
Date of
Issue
Final
Maturity
Interest
Rates
Balance
December 31,
2018
$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 $304,634
$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%1,305,935
Total Governmental Activities Loans and Notes Payable $ 1,610,569
Page 66
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
NOTE III - DETAILED NOTES ON ALL FUNDS (cont.)
E. LONG-TERM OBLIGATIONS (cont.)
Business-type Activities
Loans and Notes Payable
Repayment
Fund
Date of
Issue
Final
Maturity
Interest
Rates
Balance
December 31,
2018
$7,333,416 Draw/Term
Note Payable due in
annual installments of
$50,000 to $1,200,000 Water 05/01/2015 12/01/2025
LIBOR
through
8/1/16 then
2.0%$ 6,079,040
Total Business-type Activities Loans and Notes Payable $ 6,079,040
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
2019 $1,330,309 $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 24,370 -2,422,287 89,454
2024-2028 121,850 ---
2029-2032 60,930 ---
Totals $ 1,610,569 $ 24,495 $ 6,079,040 $ 482,015
Other Debt Information
The compensated absences liability, total OPEB liability, and net pension obligation 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, 2018 totaled $2,122,485. 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.
Page 67
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
NOTE III - DETAILED NOTES ON ALL FUNDS (cont.)
F. LEASE DISCLOSURES
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 Waukegan Road). The Village purchased this property in 2007 and continued to
lease this property to Dominick's through the lease expiration date of December 31, 2012. The Village
entered into an agreement in December 2012 to lease the land over a ten year period to a high quality,
full-service grocer. The lease commenced on November 1, 2013 and qualifies as a capital lease.
Therefore the Village recorded a $754,000 lease receivable as of fiscal year-end.
Governmental Activities
Years Principal Interest Total
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 $ 696,891 $ 57,109 $ 754,000
G.RESTATEMENT OF NET POSITION
Net position has been restated due to the implementation of GASB No. 75. The restatement is necessary
to record the prior year total OPEB liability.
Governmental
Activities
Business-Type
Activities
Net position as of December 31, 2017 (as reported)$193,238,075 $61,702,876
Adjustment to record the total OPEB liability as of December 31,
2017 (9,786,530)(258,785)
Adjustment to remove prior year net OPEB obligation 3,321,612 -
Net position as of December 31, 2017 (as restated)$ 186,773,157 $ 61,444,091
Component Unit
- Glenview
Library Water Fund
Net position as of December 31, 2017 (as reported)$15,997,535 $36,112,836
Adjustment to record the total OPEB liability as of December 31,
2017 (190,049)(207,391)
Net position as of December 31, 2017 (as restated)$ 15,807,486 $ 35,905,445
Page 68
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
NOTE III - DETAILED NOTES ON ALL FUNDS (cont.)
G.RESTATEMENT OF FUND BALANCES/NET POSITION (cont.)
Sewer Fund
Nonmajor
Enterprise
Funds
Net position as of December 31, 2017 (as reported)$19,679,672 $5,910,368
Adjustment to record the total OPEB liability as of December 31,
2017 (36,524)(14,870)
Net position as of December 31, 2017 (as restated)$ 19,643,148 $ 5,895,498
H.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.
b. Deposits and Investments
Carrying
Value
Statement
Balances
Deposits $6,527,481 $6,590,332
The Illinois Funds 4,572 4,572
Total Deposits and Investments $ 6,532,053 $ 6,594,904
Reconciliation to financial statements
Per statement of net position
Cash and cash equivalents $5,041,453
Investments 1,490,600
Total Deposits and Investments $ 6,532,053
Page 69
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
NOTE III - DETAILED NOTES ON ALL FUNDS (cont.)
H.COMPONENT UNIT (cont.)
GLENVIEW LIBRARY (cont.)
b. Deposits and Investments (cont.)
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.
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.
See Note I.D.1. for further information on deposit and investment policies.
Page 70
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
NOTE III - DETAILED NOTES ON ALL FUNDS (cont.)
H.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 27,221,544 --27,221,544
Equipment and vehicles 128,107 --128,107
Library books and materials 6,940,117 686,678 809,433 6,817,362
Total Capital Assets Being
Depreciated 34,289,768 686,678 809,433 34,167,013
Total Capital Assets 39,716,755 686,678 809,433 39,594,000
Less: Accumulated depreciation for
Buildings and improvements (4,303,867)(570,031)-(4,873,898)
Equipment and vehicles (117,760)(2,070)-(119,830)
Library books and materials (4,879,521)(669,887)809,433 (4,739,975)
Total Accumulated
Depreciation (9,301,148)(1,241,988)809,433 (9,733,703)
Net Capital Assets Being
Depreciated 24,988,620 (555,310)-24,433,310
Total Component Unit
Capital Assets, Net $ 30,415,607 $ (555,310)$-$ 29,860,297
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 $ 172,224
Transfer to fund
certain capital
costs
Total - Fund Financial Statements $ 172,224
Page 71
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
NOTE III - DETAILED NOTES ON ALL FUNDS (cont.)
H.COMPONENT UNIT (cont.)
GLENVIEW LIBRARY (cont.)
e. Long-Term Obligations
Beginning
Balance (as
restated)Increases Decreases
Ending
Balance
Amounts
Due Within
One Year
Bonds Payable
General obligation debt $16,551,645 $-$1,225,045 $15,326,600 $1,083,500
(Discounts)/Premiums
Bond premium 2,311,667 -192,639 2,119,028 -
Other Liabilities
Compensated absences 284,281 184,269 213,211 255,339 51,068
Total OPEB liability 190,049 23,516 10,337 203,228 -
Net pension liability 3,016,343 1,034,579 3,562,073 488,849 -
Total Component
Units Long-Term
Liabilities $22,353,985 $ 1,242,364 $ 5,203,305 $18,393,044 $ 1,134,568
Page 72
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
NOTE III - DETAILED NOTES ON ALL FUNDS (cont.)
H.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,
2018
$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 $ 15,326,600
Debt service requirements to maturity are as follows:
Principal Interest Totals
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 1,314,975 449,505 1,764,480
2024-2028 7,628,825 1,207,856 8,836,681
2029 1,723,750 51,713 1,775,463
Totals $ 15,326,600 $ 4,103,510 $ 19,430,110
The compensated absences liability, total OPEB liability, and net pension liability will be
liquidated primarily by the Library General Fund.
Page 73
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
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.
Pension expense. At December 31, 2017, the aggregate amount of pension expense recognized for the
three pension plans was as follows:
Plan Amount
IMRF $3,902,398
Police Pension 5,263,819
Firefighters' Pension 7,462,388
Total $ 16,628,605
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.
Employees 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.
Page 74
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
NOTE IV - OTHER INFORMATION (cont.)
A.EMPLOYEES' RETIREMENT SYSTEM (cont.)
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, 2017, the measurement date, membership in the plan was as
follows:
Retirees and beneficiaries 247
Inactive, non-retired members 164
Active members 209
Total 620
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 2017 was 12.48% 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, 2017,
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, 2017 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 3.39% to 14.25%,
including inflation
Price inflation 2.50%
Page 75
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
NOTE IV - OTHER INFORMATION (cont.)
A.EMPLOYEES' RETIREMENT SYSTEM (cont.)
Mortality. For non-disabled retirees, an IMRF specific mortality table was used with fully generational
projection scale MP-2017 (base year 2015). 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-
2017 (base year 2015). 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-2017
(base year 2015). The IMRF specific rates were developed from the RP-2014 Employee Mortality Table
with adjustments to match current IMRF experience.
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 37.00%8.30%6.85%
International equities 18.00%8.45%6.75%
Fixed income 28.00%3.05%3.00%
Real estate 9.00%6.90%5.75%
Alternatives 7.00%
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, 2016 measurement date was 7.50%. 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.
Page 76
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
NOTE IV - OTHER INFORMATION (cont.)
A.EMPLOYEES' RETIREMENT SYSTEM (cont.)
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 $95,654,722 $84,833,124 $75,934,105
Plan fiduciary net pension 83,010,517 83,010,517 83,010,517
Net pension liability/(asset) $ 12,644,205 $ 1,822,607 $ (7,076,412)
Glenview Library:
Total pension liability $25,655,987 $22,753,477 $20,366,631
Plan fiduciary net pension 22,264,628 22,264,628 22,264,628
Net pension liability/(asset)$ 3,391,359 $ 488,849 $ (1,897,997)
Total:
Total pension liability $121,310,709 $107,586,601 $96,300,736
Plan fiduciary net pension 105,275,145 105,275,145 105,275,145
Net pension liability/(asset) $ 16,035,564 $ 2,311,456 $ (8,974,409)
Changes in net pension liability/(asset). The changes in net pension liability/(asset) for the calendar
year ended December 31, 2017 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, 2016 $86,274,017 $74,842,592 $11,431,425
Service cost 1,354,683 -1,354,683
Interest on total pension liability 6,284,484 -6,284,484
Differences between expected and actual
experience of the total pension liability
(2,169,603)-(2,169,603)
Change of assumptions (2,669,227)-(2,669,227)
Benefit payments, including refunds of
employee contributions
(4,241,230)(4,241,230)-
Contributions - employer -1,637,281 (1,637,281)
Contributions - employee -578,252 (578,252)
Net investment income -12,166,520 (12,166,520)
Other (net transfer) -(1,972,898)1,972,898
Balances at December 31, 2017 $ 84,833,124 $ 83,010,517 $ 1,822,607
Page 77
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
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, 2016 $21,663,117 $18,646,774 $3,016,343
Service cost 363,346 -363,346
Interest on total pension liability 1,685,590 -1,685,590
Differences between expected and actual
experience of the total pension liability
573,104 -573,104
Change of assumptions (715,925)-(715,925)
Benefit payments, including refunds of
employee contributions
(815,755)(815,755)-
Contributions - employer -439,142 (439,142)
Contributions - employee -155,095 (155,095)
Net investment income -4,368,532 (4,368,532)
Other (net transfer) -(529,160)529,160
Balances at December 31, 2017 $ 22,753,477 $ 22,264,628 $ 488,849
Total:
Balances at December 31, 2016 $107,937,134 $93,489,366 $14,447,768
Service cost 1,718,029 -1,718,029
Interest on total pension liability 7,970,074 -7,970,074
Differences between expected and actual
experience of the total pension liability
(1,596,499)-(1,596,499)
Change of assumptions (3,385,152)-(3,385,152)
Benefit payments, including refunds of
employee contributions
(5,056,985)(5,056,985)-
Contributions - employer -2,076,423 (2,076,423)
Contributions - employee -733,347 (733,347)
Net investment income -16,535,052 (16,535,052)
Other (net transfer) -(2,502,058)2,502,058
Balances at December 31, 2017 $ 107,586,601 $ 105,275,145 $ 2,311,456
Plan fiduciary net position as a percentage of
the total pension liability %97.85
The net pension liability as of December 31, 2018 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 $ 1,543,454 $ 227,652 $ 51,501 $ 279,153 $ 488,849 $ 2,311,456
Page 78
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
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, 2018, the Village and Glenview Library recognized
pension expense of $3,902,398. 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 $69,090 $1,072,023
Assumption changes 152,107 2,059,330
Net difference between projected and actual earnings on pension
plan investments -3,758,336
Changes in component proportion between governmental, business
and component unit 44,896 88,984
Contributions subsequent to the measurement date 1,610,229 -
Total $ 1,876,322 $ 6,978,673
Glenview Library:
Difference between expected and actual experience $18,531 $287,532
Assumption changes 40,798 552,342
Net difference between projected and actual earnings on pension
plan investments -1,008,040
Changes in component proportion between governmental, business
and component unit 44,088 -
Contributions subsequent to the measurement date 431,885 -
Total $ 535,302 $ 1,847,914
Total:
Difference between expected and actual experience $87,621 $1,359,555
Assumption changes 192,905 2,611,672
Net difference between projected and actual earnings on pension
plan investments -4,766,376
Changes in component proportion between governmental, business
and component unit 88,984 88,984
Contributions subsequent to the measurement date 2,042,114 -
Total $ 2,411,624 $ 8,826,587
Page 79
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
NOTE IV - OTHER INFORMATION (cont.)
A.EMPLOYEES' RETIREMENT SYSTEM (cont.)
The deferred inflows of resources and deferred outflows of resources as of December 31, 2018 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 $1,595,820 $228,752 $51,750 $280,502 $535,302 $2,411,624
Deferred Inflows of
Resources 5,834,868 934,728 209,077 1,143,805 1,847,914 8,826,587
The amount reported as deferred outflows resulting from contributions subsequent to the measurement
date in the above table will be recognized as a reduction in the net pension liability/(asset) for the year
ending December 31, 2019. The remaining amounts reported as deferred outflows and inflows of
resources related to pensions ($(8,457,077)) will be recognized in pension expense as follows:
Year Ending December 31,Village
Component
Unit -
Glenview
Library Total
2019 $(1,302,472)$(293,429)$(1,595,901)
2020 (1,652,213)(443,148)(2,095,361)
2021 (2,227,956)(597,568)(2,825,524)
2022 (1,529,939)(410,352)(1,940,291)
Total $ (6,712,580)$ (1,744,497)$ (8,457,077)
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 80
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
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, 2018, the Police Pension membership consisted of:
Retirees and beneficiaries 64
Inactive, non-retired members 4
Active members 65
Total 133
Page 81
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
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 $2,470,705 for the fiscal year ending December 31, 2018 was 36.74% of
annual covered payroll.
Net Pension Liability/(Asset). The net pension liability/(asset) was measured as of December 31, 2018,
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, 2018 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%
Mortality Rate Active Lives: PubS.H-2010 Employee mortality, projected to 2030 with Scale MP-2018.
10% of active deaths are assumed to be in the line of duty. Mortality Rate Inactive Lives: PubS.H-2010
Healthy Retiree mortality, projected to 2030 with Scale MP-2018. Mortality Rate Beneficiaries: PubS.H-
2010 Survivor mortality, projected to 2030 with Scale MP-2018. Mortality Rate Disabled Lives: PubS.H-
2010 Disabled mortality, projected to 2030 with Scale MP-2018.
Page 82
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
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 $126,041,990 $110,354,597 $97,512,941
Plan fiduciary net position 74,378,023 74,378,023 74,378,023
Net pension liability $ 51,663,967 $ 35,976,574 $ 23,134,918
Page 83
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
NOTE IV - OTHER INFORMATION (cont.)
A.EMPLOYEES' RETIREMENT SYSTEM (cont.)
Police Pension (cont.)
Changes in net pension liability/(asset). The Village's changes in net pension liability/(asset) for the
calendar year ended December 31, 2018 was as follows:
Increase (Decrease)
Total Pension
Liability
(a)
Plan Fiduciary
Net Position
(b)
Net Pension
Liability/Asset
(a) - (b)
Balances at December 31, 2017 $104,688,057 $79,413,972 $25,274,085
Service cost 1,647,496 -1,647,496
Interest on total pension liability 7,022,152 -7,022,152
Differences between expected and actual
experience of the total pension liability 137,917 -137,917
Change of assumptions 1,409,870 -1,409,870
Benefit payments, including refunds of employee
contributions (4,607,357)(4,607,357)-
Contributions - employer -2,470,705 (2,470,705)
Contributions - employee -695,012 (695,012)
Contributions - buy back 56,462 56,462 -
Net investment income -(3,589,649)3,589,649
Administration -(61,122)61,122
Balances at December 31, 2018 $ 110,354,597 $ 74,378,023 $ 35,976,574
Plan fiduciary net position as a percentage of the
total pension liability %67.40
Pension expense and deferred outflows of resources and deferred inflows of resources related
to pensions. For the year ended December 31, 2018, the Village recognized pension expense of
$5,263,819. 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 $480,682 $1,380,932
Assumption changes 3,162,973 -
Net difference between projected and actual earnings on pension
plan investments 6,224,718 -
Total $ 9,868,373 $ 1,380,932
Page 84
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
NOTE IV - OTHER INFORMATION (cont.)
A.EMPLOYEES' RETIREMENT SYSTEM (cont.)
Police Pension (cont.)
The amounts reported as deferred outflows and inflows of resources related to pensions ($8,487,441)
will be recognized in pension expense as follows:
Year Ending December 31,Amount
2019 $2,539,689
2020 1,608,351
2021 1,978,770
2022 2,102,667
2023 257,964
Total $ 8,487,441
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.
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.
Page 85
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
NOTE IV - OTHER INFORMATION (cont.)
A.EMPLOYEES' RETIREMENT SYSTEM (cont.)
Firefighters' Pension (cont.)
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, 2018, the Firefighters' Pension Plan membership consisted of:
Retirees and beneficiaries 89
Inactive, non-retired members 2
Active members 80
Total 171
Contributions. Participants contribute a fixed percentage of their base salary to the plans. At December
31, 2018, 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 $4,048,725 for the fiscal year ending
December 31, 2018 was 47.15% of annual covered payroll.
Net pension liability/(asset). The net pension liability/(asset) was measured as of December 31, 2018,
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 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.
Page 86
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
NOTE IV - OTHER INFORMATION (cont.)
A.EMPLOYEES' RETIREMENT SYSTEM (cont.)
Firefighters' Pension (cont.)
Actuarial assumptions. The total pension liability was determined by an actuarial valuation performed as
of December 31, 2018 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: RP-2014 Adjusted for Plan Status, Collar, and Illinois Public Pension Data, as
Appropriate.
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.
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 $149,948,765 $131,674,873 $116,712,380
Plan fiduciary net position 79,578,281 79,578,281 79,578,281
Net pension liability $ 70,370,484 $ 52,096,592 $ 37,134,099
Page 87
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
NOTE IV - OTHER INFORMATION (cont.)
A.EMPLOYEES' RETIREMENT SYSTEM (cont.)
Firefighters' Pension (cont.)
Changes in net pension liability/(asset). The Village's changes in net pension liability/(asset) for the
calendar year ended December 31, 2018 was as follows:
Increase (Decrease)
Total Pension
Liability
(a)
Plan Fiduciary
Net Position
(b)
Net Pension
Liability/Asset
(a) - (b)
Balances at December 31, 2017 $127,124,670 $84,767,605 $42,357,065
Service cost 2,086,295 -2,086,295
Interest on total pension liability 8,688,900 -8,688,900
Differences between expected and actual
experience of the total pension liability (229,937)-(229,937)
Benefit payments, including refunds of employee
contributions (5,995,055)(5,995,055)-
Contributions - employer -4,048,725 (4,048,725)
Contributions - employee -814,043 (814,043)
Net investment income -(3,987,265)3,987,265
Administration -(69,772)69,772
Balances at December 31, 2018 $ 131,674,873 $ 79,578,281 $ 52,096,592
Plan fiduciary net position as a percentage of the
total pension liability %60.44
Pension expense and deferred outflows of resources and deferred inflows of resources related
to pensions. For the year ended December 31, 2018, the Village recognized pension expense of
$7,462,388. 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 $1,018,648 $1,397,025
Assumption changes 5,317,755 -
Net difference between projected and actual earnings on pension
plan investments 5,685,568 -
Total $ 12,021,971 $ 1,397,025
Page 88
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
NOTE IV - OTHER INFORMATION (cont.)
A.EMPLOYEES' RETIREMENT SYSTEM (cont.)
Firefighters' Pension (cont.)
The amounts reported as deferred outflows and inflows of resources related to pensions ($10,624,946)
will be recognized in pension expense as follows:
Year Ending December 31,Amount
2019 $3,323,124
2020 2,508,297
2021 2,350,044
2022 2,501,575
2023 (34,071)
Thereafter (24,023)
Total $ 10,624,946
PENSION SEGMENT INFORMATION
Fiduciary Net Position
Pension Trust
Police Pension
Fund
Firefighters'
Pension Fund Total
Assets
Cash and Cash Equivalents $3,955,313 $80,724 $4,036,037
Investments
U.S. Treasuries 6,593,621 4,316,570 10,910,191
U.S. Agencies 7,662,302 21,254,598 28,916,900
Mutual Funds 41,763,689 48,992,884 90,756,573
Corporate Obligations 13,657,583 -13,657,583
Municipal Obligations 563,404 4,780,650 5,344,054
Receivables - (net allowances for uncollectibles)
Accrued Interest 193,649 183,594 377,243
Prepaid Items 6,137 4,906 11,043
Due from Primary Government 1,288 2,112 3,400
Total Assets 74,396,986 79,616,038 154,013,024
Liabilities
Accrued Expenses 18,963 37,757 56,720
Total Liabilities 18,963 37,757 56,720
Net Position
Restricted for pension benefits $ 74,378,023 $ 79,578,281 $ 153,956,304
Page 89
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
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 $2,470,705 $4,048,725 $6,519,430
Participant 751,474 814,043 1,565,517
Total Contributions 3,222,179 4,862,768 8,084,947
Investment Income
Net Appreciation in Fair Value of Investments (6,973,465)(7,544,266)(14,517,731)
Pensions - Interest income 3,465,950 3,709,348 7,175,298
Total Investment income (3,507,515)(3,834,918)(7,342,433)
Less investment expense 82,136 152,347 234,483
Net investment income (3,589,651)(3,987,265)(7,576,916)
Total Additions (367,472)875,503 508,031
Deductions
Retirement Pensions 4,191,283 4,933,430 9,124,713
Widow Pensions 220,240 582,663 802,903
Disability Pensions 123,482 478,962 602,444
Children's Pensions 48,270 -48,270
Contribution Refunds 24,082 -24,082
Administration 61,122 69,772 130,894
Total Deductions 4,668,479 6,064,827 10,733,306
Change in net position (5,035,951)(5,189,324)(10,225,275)
Net position, beginning of year 79,413,974 84,767,605 164,181,579
Net position, end of year $ 74,378,023 $ 79,578,281 $ 153,956,304
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 90
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
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 estimated.
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 $1,938,607 $1,681,040
Current year claims and changes in estimates 800,251 464,078
Claim payments (1,057,818)(737,682)
Unpaid Claims - End of Year $ 1,681,040 $ 1,407,436
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 91
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
NOTE IV - OTHER INFORMATION (cont.)
B.RISK MANAGEMENT (cont.)
Public Entity Risk Pool (cont.)
High-Level Excess Liability Pool (HELP)
The Village participated in the High-Level Excess Liability Pool (HELP) until May 1, 2018. As of May 1,
2018, the Village obtained excess coverage through the open insurance market. HELP was a pool with a
membership of thirteen municipalities in Illinois that provided excess liability coverage ($11,000,000 of
coverage after a $2,000,000 self-insurance retention). The purpose of HELP was to act as a joint self-
insurance pool for the purpose of providing excess liability insurance to municipalities. The Village's
payments to HELP thru April 30, 2018 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. The Village did not renew membership after this
expiration date.
The HELP Board of Directors will continue to meet until all claims for member municipalities thru April 30,
2018 are closed or have been otherwise resolved. 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 92
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
NOTE IV - OTHER INFORMATION (cont.)
D.JOINT VENTURES
High-Level Excess Liability Pool (HELP)
The Village was a member of a joint venture, the High-Level Excess Liability Pool (HELP) until May 1,
2018. The contract with HELP provided excess liability insurance.
The Village committed to purchase excess liability insurance from the High-Level Excess Liability Pool
(HELP) through April 30, 2018. The amount owed has been calculated using the Village's current
allocation percentage of 9.21%.
The Village's agreement with HELP also provided that each member is liable for its proportionate share of
any costs arising from defaults in payment obligations by other members.
The Village's most recent term with HELP expired April 30, 2018. The Village did not renew, instead opting
to obtain excess coverage through the open market after expiration.
Solid Waste Agency of Northern Cook County
The Village is a member of a joint venture, the Solid Waste Agency of Northern Cook County (SWANCC),
which consists of twenty-three municipalities. SWANCC is a municipal corporation and public body politic
established pursuant to the Constitution of the State of Illinois and the Intergovernmental Cooperation Act
of the State of Illinois, as amended, (the Act). SWANCC is empowered under the Act to plan, construct,
finance, operate, and maintain a solid waste disposal system to serve its members. The contract with
SWANCC provides that each member is liable for its proportionate share of any costs arising from
defaults in payment obligations by other members.
The members form a contiguous geographic service area, which is located northwest of downtown
Chicago. Under the SWANCC Agreement, additional members may join SWANCC upon the approval of
each member.
SWANCC is governed by a Board of Directors, which consists of one appointed Mayor or President from
each member municipality. Each Director has an equal vote. The seven-member Executive Committee of
SWANCC is elected by the Board of Directors. The Board of Directors determines the general policy of
SWANCC, makes all appropriations, approves contracts, adopts resolutions providing for the issuance of
bonds or notes by SWANCC, adopts by-laws, rules and regulations, and exercises such powers and
performs such duties as may be prescribed in the agreement or the by-laws.
In accordance with the joint venture agreement, the Village remitted $516,894 to SWANCC for the year
ended December 31, 2018. The payments are recorded in the General Fund. The Village does not have
an equity interest in SWANCC at December 31, 2018. Complete financial statements for SWANCC can
be obtained from SWANCC's administrative office at 2700 Patriot Boulevard, Suite 110, Glenview, Illinois
60026, or from SWANCC's website, www.swancc.org.
Page 93
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
NOTE IV - OTHER INFORMATION (cont.)
E.OTHER POSTEMPLOYMENT BENEFITS
Plan description. The Village and Library provide postemployment health care and life insurance benefits
at blended premium rates for retired employees through a cost-sharing defined benefit plan administered
by the Village. 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 funded on a pay-as-you-go basis and no assets are accumulated in a trust that
meets the criteria in paragraph 4 of Statement No. 75. The plan does not issue a separate report.
Contributions and benefits provided. The Village and Library provide continued health insurance coverage
at the active employee rate to all eligible employees in accordance with ILCS, which creates an OPEB for
retirees, commonly referred to as an implicit rate subsidy. To be eligible for benefits, an employee must
qualify for retirement under the Village or Library'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. For Village and
Library employees, upon a retiree reaching 65 years of age, Medicare becomes the primary insurer and
the retiree is no longer eligible to participate in the plan. Retired employees are required to pay 100% of
the premiums for such coverage.
Total OPEB Liability. At December 31, 2018, the Village reported a liability for its proportionate share of
the total OPEB liability of $10,741,889 and the Library reported a liability for its proportionate share of the
total OPEB liability of $203,228. The total liability was measured as of December 31, 2018, and was
determined by an actuarial valuation as of December 31, 2018. The proportions of the total OPEB liability
were based on the share of OPEB cost between the Village and Library, as determined by the
independent actuary, for the measurement year ended December 31, 2018. At December 31, 2018, the
Village and Library's proportions were 98.14% and 1.86%, respectively.
Actuarial assumptions and other inputs. The total OPEB liability in the December 31, 2018 actuarial
valuation was determined using the following actuarial assumptions and other inputs, applied to all periods
included in the measurement, unless otherwise specified:
Health care participation rate
75% participation with 50% electing spouse
coverage
Healthcare cost trend rates
Initial rate of 8.50%, grading down to the ultimate
trend rate of 4.50% in 2027
Retirees' share of benefit-related costs
100%; The Village pays 100% of the cost of retiree
and dependent coverage for disabled Police
Officers and Firefighters receiving PSEBA benefits
The discount rate was based on tax-exempt municipal bond rate based on an index of 20-year general
obligation bonds with an average AA credit rating.
Page 94
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
NOTE IV - OTHER INFORMATION (cont.)
E.OTHER POSTEMPLOYMENT BENEFITS (cont.)
Probabilities of death for participants were according to RP2014 Blue Collar base rates projected to 2018
using scale MP2018 for Police and Fire. For all others the RP2014 base rates projected to 2018 using
scale MP2018 was used. No additional provision (besides those already embedded) were included for
mortality improvements beyond 2018.
The actuarial assumptions used in the December 31, 2018 valuation were based on the results of an
actuarial experience study conducted by the independent actuary.
Discount Rate. At December 31, 2018, the discount rate used to measure the total OPEB liability was a
blended rate of 4.10%, which was a change from the December 31, 2017 rate of 3.44%. Since the plan is
financed on a pay-as-you-go basis, the discount rate is based on the 20-year general obligation bond
index.
Changes in the Total OPEB Liability
Total OPEB
Liability
Balances at December 31, 2017 $10,235,364
Changes for the year:
Service cost 387,795
Interest 342,521
Differences between expected and
actual experience (321,493)
Changes in assumptions or other inputs 857,650
Benefit payments (556,720)
Net changes 709,753
Balances at December 31, 2018 $10,945,117
Total OPEB liability - Village proportion $10,741,889
Total OPEB liability - Library proportion $203,228
Changes of assumptions and other inputs reflect a change in the discount rate from 3.44% for the
reporting period ended December 31, 2017, to 4.10% for the reporting period ended December 31, 2018.
Page 95
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
NOTE IV - OTHER INFORMATION (cont.)
E.OTHER POSTEMPLOYMENT BENEFITS (cont.)
Sensitivity of the total OPEB liability to changes in the discount rate. The following presents the total
OPEB liability of the Village and Library, as well as what the Village and Library's total OPEB liability would
be if it were calculated using a discount rate that is 1-percentage-point lower (3.10 percent) or 1-
percentage-point higher (5.10 percent) than the current discount rate:
1% Decrease Discount Rate 1% Increase
(3.10%)(4.10%)(5.10%)
Total OPEB liability - Village $11,883,405 $10,741,889 $9,755,490
Total OPEB liability - Library 220,162 203,228 187,205
Total OPEB liability $12,103,567 $10,945,117 $9,942,695
Sensitivity of the net OPEB liability to changes in the healthcare cost trend rates. The following
presents the net OPEB liability of the Village and Library, as well as what the Village and Library's net
OPEB liability would be if it were calculated using healthcare cost trend rates that are 1-percentage-point
lower ( 7.50 percent decreasing to 3.50 percent) or 1-percentage-point higher (9.50 percent decreasing to
5.50 percent) than the current healthcare cost trend rates:
1% Decrease
(7.50%
Decreasing to
3.50%)
Healthcare Cost
Trend Rates
(8.50%
Decreasing to
4.50%)
1% Increase
(9.50%
Decreasing to
5.50%)
Total OPEB liability - Village $9,564,192 $10,741,889 $12,160,974
Total OPEB liability - Library 180,092 203,228 230,272
Total OPEB liability $ 9,744,284 $ 10,945,117 $ 12,391,246
Page 96
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
NOTE IV - OTHER INFORMATION (cont.)
E.OTHER POSTEMPLOYMENT BENEFITS (cont.)
OPEB EXPENSE AND DEFERRED OUTFLOWS OF RESOURCES AND DEFERRED INFLOWS OF RESOURCES
RELATED TO OPEB
For the year ended December 31, 2018, the Village and Library recognized OPEB expense of $783,903.
At December 31, 2018, the Village and Library reported deferred outflows of resources and deferred
inflows of resources related to OPEB from the following sources:
Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
Village:
Difference between expected and actual experience $-$283,989
Assumption changes 757,599 -
Total $ 757,599 $ 283,989
Glenview Library:
Difference between expected and actual experience $-$5,373
Assumption changes 14,333 -
Total $ 14,333 $ 5,373
Total:
Difference between expected and actual experience $-$289,362
Assumption changes 771,932 -
Total $ 771,932 $ 289,362
Amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB
will be recognized in OPEB expense as follows:
Year Ending
December 31,Village
Glenview
Library Total
2019 $52,592 $995 $53,587
2020 52,592 995 53,587
2021 52,592 995 53,587
2022 52,592 995 53,587
2023 52,592 995 53,587
Thereafter 210,650 3,985 214,635
Total $ 473,610 $ 8,960 $ 482,570
Page 97
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
NOTE IV - OTHER INFORMATION (cont.)
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 retailer over a base amount. The agreement is contingent on the
retailer maintaining their facility within the Village for a period of at least fifteen years from the effective
date of January 1, 2015 per the second addendum to the original agreement executed in 2000. In fiscal
year 2018, the Village made payments to the retailer totaling $2,531,299 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 2018, the Village made
payments to the retailer totaling $164,784 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 $229,594.
Page 98
VILLAGE OF GLENVIEW
NOTES TO FINANCIAL STATEMENTS
As of and for the Year Ended December 31, 2018
NOTE IV - OTHER INFORMATION (cont.)
G.EFFECT OF NEW ACCOUNTING STANDARDS ON CURRENT-PERIOD FINANCIAL STATEMENTS
The Governmental Accounting Standards Board (GASB) has approved the following:
x Statement No. 83, Certain Asset Retirement Obligations
x Statement No. 84, Fiduciary Activities
x Statement No. 87, Leases
x Statement No. 88, Certain Disclosures Related to Debt, including Direct Borrowings and
Direct Placements
x Statement No. 89, Accounting for Interest Cost Incurred before the End of a Construction
Period
x Statement No. 90, Majority Equity Interest an amendment of GASB Statements No 14 and
No. 61
When they become effective, application of these standards may restate portions of these financial
statements.
Page 99
R E Q U I R E D S U P P L E M E N T A R Y I N F O R M A T I O N
See independent auditors' report and accompanying notes to required supplementary information Page 100
Village Library Total Village Library Total
Total pension liability
Service cost 1,441,366$ 379,030$ 1,820,396$ 1,450,778$ 360,306$ 1,811,084$
Interest 6,215,187 472,222 6,687,409 5,875,309 1,459,156 7,334,465
Differences between expected and
actual experience 1,054,984 277,425 1,332,409 71,975 17,875 89,850
Changes of assumptions 2,594,608 682,293 3,276,901 107,863 26,788 134,651
Benefit payments, including refunds
of member contributions (3,299,534) (867,665) (4,167,199) (3,638,198) (903,561) (4,541,759)
Net change in total pension liability 8,006,611 943,305 8,949,916 3,867,727 960,564 4,828,291
Total pension liability - beginning 71,529,140 18,809,714 90,338,854 79,535,751 19,753,019 99,288,770
Total pension liability - ending 79,535,751$ 19,753,019$ 99,288,770$ 83,403,478$ 20,713,583$ 104,117,061$
Plan fiduciary net position
Employer contributions 1,714,020$ 450,728$ 2,164,748$ 1,754,574$ 435,755$ 2,190,329$
Employee contributions 578,749 152,191 730,940 532,041 248,514 780,555
Net investment income 5,000,601 152,829 5,153,430 354,242 87,978 442,220
Benefit payments, including refunds
of member contributions (3,299,534) (867,665) (4,167,199) (3,638,198) (903,561) (4,541,759)
Other (net transfer)181,595 47,753 229,348 444,375 110,362 554,737
Net change in plan fiduciary net position 4,175,431 (64,164) 4,111,267 (552,966) (20,952) (573,918)
Plan fiduciary net position - beginning 67,395,507 17,722,710 85,118,217 71,570,938 17,658,546 89,229,484
Plan fiduciary net position - ending 71,570,938$ 17,658,546$ 89,229,484$ 71,017,972$ 17,637,594$ 88,655,566$
Employer's net pension (asset) liability 7,964,813$ 2,094,473$ 10,059,286$ 12,385,506$ 3,075,989$ 15,461,495$
Plan fiduciary net position as a
percentage of the total pension liability 89.87% 85.15%
Covered payroll 16,154,258$ 17,008,659$
Employer's net pension (asset) liability
as a percentage of covered payroll 62.27% 90.90%
Notes to Schedule:
VILLAGE OF GLENVIEW
ILLINOIS MUNICIPAL RETIREMENT FUND
SCHEDULE OF CHANGES IN THE CITY'S NET PENSION LIABILITY
AND RELATED RATIOS
Last Four Fiscal Years
2015 2016
The Village implemented GASB Statement No. 68 in fiscal year 2015. Information prior to fiscal year 2015 is not available. The Village utilizes
the IMRF report as of the prior fiscal year end date.
See independent auditors' report and accompanying notes to required supplementary information Page 101
Village Library Total Village Library Total
1,364,711$ 360,098$ 1,724,809$ 1,354,683$ 363,346$ 1,718,029$
6,067,722 1,601,054 7,668,776 6,284,484 1,685,590 7,970,074
(459,967) 70,733 (389,234) (2,169,603) 573,104 (1,596,499)
(215,882) (56,963) (272,845) (2,669,227) (715,925) (3,385,152)
(3,886,045) (1,025,388) (4,911,433) (4,241,230) (815,755) (5,056,985)
2,870,539 949,534 3,820,073 (1,440,893) 1,090,360 (350,533)
83,403,478 20,713,583 104,117,061 86,274,017 21,663,117 107,937,134
86,274,017$ 21,663,117$ 107,937,134$ 84,833,124$ 22,753,477$ 107,586,601$
1,666,519$ 439,734$ 2,106,253$ 1,637,281$ 439,142$ 2,076,423$
601,714 158,771 760,485 578,252 155,095 733,347
4,863,653 1,283,344 6,146,997 12,166,520 4,368,532 16,535,052
(3,886,045) (1,025,388) (4,911,433) (4,241,230) (815,755) (5,056,985)
578,779 152,719 731,498 (1,972,898) (529,160) (2,502,058)
3,824,620 1,009,180 4,833,800 8,167,925 3,617,854 11,785,779
71,017,972 17,637,594 88,655,566 74,842,592 18,646,774 93,489,366
74,842,592$ 18,646,774$ 93,489,366$ 83,010,517$ 22,264,628$ 105,275,145$
11,431,425$ 3,016,343$ 14,447,768$ 1,822,607$ 488,849$ 2,311,456$
86.61% 97.85%
16,327,538$ 16,293,001$
88.49% 14.19%
20182017
See independent auditors' report and accompanying notes to required supplementary information Page 102
Village Library Total Village Library Total
Actuarially determined contribution 1,699,565$ 446,928$ 2,146,493$ 1,687,223$ 419,029$ 2,106,252$
Contributions in relation to the
actuarially determined contribution (1,734,274) (456,055) (2,190,329) (1,687,224) (419,029) (2,106,253)
Contribution deficiency (excess)(34,709)$ (9,127)$ (43,836)$ (1)$ -$ (1)$
Covered payroll 17,008,659$ 16,327,538$
Contributions as a percentage of covered payroll 12.88% 12.90%
Notes to Schedule:
The Village implemented GASB Statement No. 68 in fiscal year 2015. Information prior to fiscal year 2014 is not available.
Valuation date:
Actuarially determined contribution rates are calculated as of December 31.
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.
IMRF specific mortality table was used with fully generational projection scale
MP-2014 (base year 2012).
VILLAGE OF GLENVIEW
ILLINOIS MUNICIPAL RETIREMENT FUND
SCHEDULE OF EMPLOYER CONTRIBUTIONS
Last Four Fiscal Years
2016
Experience-based table of rates that are specific to the type of eligibility
condition. Last updated for the 2014 valuation pursuant to an experience
study of the period 2011-2013.
2015
3.75% to 14.50% including inflation
Entry age normal
Level percentage of payroll, closed
26-year closed period
5-Year Smoothed Market; 20% corridor
See independent auditors' report and accompanying notes to required supplementary information Page 103
Village Library Total Village Library Total
1,606,360$ 427,007$ 2,033,367$ 1,579,391$ 419,838$ 1,999,229$
(1,640,374) (436,049) (2,076,423) (1,625,477) (432,089) (2,057,566)
(34,014)$ (9,042)$ (43,056)$ (46,086)$ (12,251)$ (58,337)$
16,293,001$ 16,306,927$
12.74% 12.62%
20182017
See independent auditors' report and notes to required supplementary information.
Page 104
VILLAGE OF GLENVIEW
POLICE PENSION FUND
SCHEDULE OF CHANGES IN THE VILLAGE'S NET PENSION LIABILITY AND RELATED RATIOS
Last Five 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 payroll 7,055,218$ 6,985,724$
Village's net pension liability as a percentage of covered
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 105
2016 2017 2018
1,601,139$ 1,751,973$ 1,647,496$
6,436,190 6,727,271 7,022,152
215,928 386,681 137,917
3,376,901 - 1,409,870
- - 56,462
(3,948,281)(4,178,350)(4,607,357)
7,681,877 4,687,575 5,666,540
92,318,605 100,000,482 104,688,057
100,000,482$ 104,688,057$ 110,354,597$
2,497,041$ 2,492,386$ 2,470,705$
812,961 712,431 695,012
--56,462
3,937,691 8,439,097 (3,589,649)
(3,948,281) (4,178,350) (4,607,357)
(50,482)(57,057)(61,122)
3,248,930 7,408,507 (5,035,949)
68,756,535 72,005,465 79,413,972
72,005,465$ 79,413,972$ 74,378,023$
27,995,017$ 25,274,085$ 35,976,574$
72.01% 75.86% 67.40%
7,123,493$ 6,890,888$ 6,725,646$
393.00% 366.78% 534.92%
See independent auditors' report and notes to required supplementary information.
Page 106
VILLAGE OF GLENVIEW
POLICE PENSION FUND
SCHEDULE OF EMPLOYER CONTRIBUTIONS
Last Ten Fiscal Years
2009 2010 2011 2012
Actuarially determined contribution 933,477$ 1,370,885$ 1,347,587$ 1,569,531$
Contributions in relation to the actuarially
determined contribution 1,168,933 1,802,629 1,767,986 1,812,692
Contribution deficiency (excess) (235,456)$ (431,744)$ (420,399)$ (243,161)$
Covered payroll 5,847,732$ 5,855,973$ 6,091,656$ 6,136,593$
Contributions as a percentage of covered
payroll 19.99% 30.78% 29.02% 29.54%
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
,QYHVWPHQWUDWHRIUHWXUQ
Mortality
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%
6.75%, net of pension plan investment expense, including inflation
See independent auditors' report and notes to required supplementary information.
Page 107
2013 2014 2015 2016 2017 2018
1,812,556$ 1,921,637$ 1,957,880$ 3,224,497$ 2,337,883$ 2,448,164$
1,632,373 1,953,494 7,494,545 2,497,041 2,492,386 2,470,705
180,183$ (31,857)$ (5,536,665)$ 727,456$ (154,503)$ (22,541)$
6,359,627$ 7,055,218$ 6,985,724$ 7,123,493$ 6,890,888$ 6,725,646$
25.67% 27.69% 107.28% 35.05% 36.17% 36.74%
See independent auditors' report and notes to required supplementary information.
Page 108
VILLAGE OF GLENVIEW
POLICE PENSION FUND
SCHEDULE OF INVESTMENT RETURNS
Last Four Fiscal Years
2014 2015 2016 2017 2018
Annual money-weighted rate of return,
net of investment expense 4.58% 0.06% 5.80% 11.99% -4.63%
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 109
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 payroll 7,058,973$ 7,926,515$
Village's net pension liability as a percentage of covered
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 Five Fiscal Years
See independent auditors' report and notes to required supplementary information.
Page 110
2016 2017 2018
1,890,273$ 2,022,592$ 2,086,295$
7,728,761 8,377,782 8,688,900
(2,178,162) 2,444 (229,937)
7,605,249 - -
(5,627,277)(5,921,500)(5,995,055)
9,418,844 4,481,318 4,550,203
113,224,508 122,643,352 127,124,670
122,643,352$127,124,670$131,674,873$
4,016,250$ 3,839,494$ 4,048,725$
782,515 783,767 814,043
- 18,091 -
4,765,957 10,455,191 (3,987,265)
(5,627,277) (5,921,500) (5,995,055)
(68,045)(69,391)(69,772)
3,869,400 9,105,652 (5,189,324)
71,792,553 75,661,953 84,767,605
75,661,953$84,767,605$79,578,281$
46,981,399$42,357,065$52,096,592$
61.69% 66.68% 60.44%
8,077,068$ 8,359,765$ 8,587,330$
581.66% 506.68% 606.67%
See independent auditors' report and notes to required supplementary information.
Page 111
2009 2010 2011 2012
Actuarially determined contribution 1,987,548$ 1,941,060$2,160,105$ 2,420,075$
Contributions in relation to the actuarially
determined contribution 1,985,871 2,541,870 2,806,961 2,926,010
Contribution deficiency (excess) 1,677$(600,810)$(646,856)$(505,935)$
Covered payroll 6,519,762$ 6,621,473$6,926,020$ 6,439,694$
Contributions as a percentage of covered
payroll 30.46% 38.39% 40.53% 45.44%
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
VILLAGE OF GLENVIEW
Last Ten Fiscal Years
FIREFIGHTERS' PENSION FUND
SCHEDULE OF EMPLOYER CONTRIBUTIONS
Level dollar
RP-2014 Adjusted for Plan Status, Collar, and Illinois Public Pension Data, as
Appropriate
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.
Market value
2.50%
See independent auditors' report and notes to required supplementary information.
Page 112
2013 2014 2015 2016 2017 2018
2,985,212$ 2,733,414$ 3,739,508$ 3,974,237$ 3,590,168$ 4,011,045$
3,116,164 3,134,768 10,309,348 4,016,250 3,839,494 4,048,725
(130,952)$(401,354)$(6,569,840)$(42,013)$(249,326)$(37,680)$
6,737,119$ 7,058,973$ 7,926,515$ 8,077,068$ 8,359,765$ 8,587,330$
46.25% 44.41% 130.06% 49.72% 45.93% 47.15%
See independent auditors' report and notes to required supplementary information.
Page 113
VILLAGE OF GLENVIEW
FIREFIGHTERS' PENSION FUND
SCHEDULE OF INVESTMENT RETURNS
Last Five Fiscal Years
2014 2015 2016 2017 2018
Annual money-weighted rate of return,
net of investment expense 6.95% 1.19% 6.64% 13.82% -4.72%
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 114
VILLAGE OF GLENVIEW
OTHER POSTEMPLOYMENT BENEFIT PLAN
SCHEDULE OF CHANGES IN THE TOTAL OPEB LIABILITY
AND RELATED RATIOS
Most Recent Fiscal Year
2018
Total OPEB liability
Service cost 387,795$
Interest 342,521
Differences between expected and actual experience (321,493)
Changes of assumptions 857,650
Benefit payments, including refunds of member contributions (556,720)
Net change in total OPEB liability 709,753
Total OPEB liability - beginning 10,235,364
Total OPEB liability - ending 10,945,117$
Plan fiduciary net position as a percentage of the total OPEB liability 0.00%
Covered payroll 24,845,812$
Village's total OPEB liability as a percentage of covered payroll 44.05%
Notes to Schedule:
The Village implemented GASB Statement No. 75 in fiscal year 2018. Information prior to fiscal year 2018 is not
available.
The information presented above includes the total OPEB liability for the Village and Library.
VILLAGE OF GLENVIEW
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCE - BUDGET AND ACTUAL - GENERAL FUND
For the Year Ended December 31, 2018
With Comparative Actual Amounts for the Year Ended December 31, 2017
2018
Budgeted Amounts
Original Final Actual
Variance with
Final Budget
2017
Actual
REVENUES
TAXES
Property $12,055,614 $12,055,614 $12,214,618 $159,004 $11,892,712
Other Taxes 14,487,831 14,487,831 15,699,176 1,211,345 14,885,856
Licenses and Permits 2,469,000 2,469,000 2,810,054 341,054 2,451,693
Charges for Services 11,428,539 11,428,539 12,238,955 810,416 12,459,200
Fines, Forfeitures and
Penalties 199,500 199,500 130,281 (69,219)211,592
Intergovernmental 27,283,732 27,283,732 28,521,321 1,237,589 28,562,583
Investment Income 264,209 264,209 607,296 343,087 332,462
Total
Revenues 68,188,425 68,188,425 72,221,701 4,033,276 70,796,098
EXPENDITURES
Current:
General Government 19,524,897 19,610,948 17,940,634 1,670,314 17,820,637
Public Works 8,862,277 9,030,642 8,233,133 797,509 8,755,999
Public Safety 30,169,331 30,335,802 29,782,200 553,602 29,458,875
Development 3,383,935 3,870,697 3,740,393 130,304 3,507,512
Capital Outlay --18,618 (18,618)725,398
Total
Expenditures 61,940,440 62,848,089 59,714,978 3,133,111 60,268,421
Excess of revenues
over expenditures 6,247,985 5,340,336 12,506,723 7,166,387 10,527,677
OTHER FINANCING
SOURCES (USES)
Transfers In 872,321 872,321 1,285,171 412,850 1,040,685
Transfers Out (7,456,182)(7,646,813)(7,700,670)(53,857)(7,299,816)
Total Other
Financing
Sources (Uses)(6,583,861)(6,774,492)(6,415,499)358,993 (6,259,131)
Net Change in Fund
Balance $ (335,876)$ (1,434,156)6,091,224 $ 7,525,380 4,268,546
FUND BALANCE -
Beginning of Year 29,758,892 25,490,346
FUND BALANCE -
END OF YEAR $ 35,850,116 $ 29,758,892
See independent auditors' report and accompanying notes to required supplementary information.
Page 115
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, 2018
With Comparative Actual Amounts for the Year Ended December 31, 2017
2018
Budgeted Amounts
Original Final Actual
Variance with Final
Budget
2017
Actual
REVENUES
Property Taxes -
Incremental $32,802,680 $32,802,680 $34,341,818 $1,539,138 $33,410,224
Intergovernmental -
Miscellaneous 98,846 98,846 160,973 62,127 315,822
Charges for Services 507,816 507,816 507,816 -204,945
Investment Income 84,000 84,000 640,015 556,015 336,297
Miscellaneous --34,843 34,843 -
Total Revenues 33,493,342 33,493,342 35,685,465 2,192,123 34,267,288
EXPENDITURES
General Government
Personnel 353,789 353,789 340,382 13,407 332,284
Contractual
Services 22,786,179 22,786,179 22,620,554 165,625 22,206,441
Commodities 115,950 115,950 66,048 49,902 78,167
Other Charges 242,118 242,118 241,760 358 242,852
Total general
government 23,498,036 23,498,036 23,268,744 229,292 22,859,744
Debt Service
Principal 6,965,938 6,965,938 6,965,938 -6,850,938
Interest and Fiscal
Charges 788,948 788,948 1,071,320 (282,372)1,060,895
Total
Expenditures 31,252,922 31,252,922 31,306,002 (53,080)30,771,577
Excess of revenues
over expenditures 2,240,420 2,240,420 4,379,463 2,139,043 3,495,711
OTHER FINANCING
SOURCES (USES)
Transfers Out (297,321)(2,605,034)(1,420,533)1,184,501 (308,798)
Total Other
Financing
Sources (Uses)(297,321)(2,605,034)(1,420,533)1,184,501 (308,798)
Net Change in Fund
Balance $ 1,943,099 $ (364,614)2,958,930 $ 3,323,544 3,186,913
FUND BALANCE
(DEFICIT) - Beginning of
Year (5,729,380)(8,916,293)
FUND BALANCE
(DEFICIT) - END OF
YEAR $ (2,770,450)$ (5,729,380)
See independent auditors' report and notes to required supplementary information.
Page 116
VILLAGE OF GLENVIEW
NOTES TO REQUIRED SUPPLEMENTARY INFORMATION
For the Year Ended December 31, 2018
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 117
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.
Page 118
BUDGET AND ACTUAL - GENERAL FUND
With Comparative Actual Amounts for the Year Ended December 31, 2017
2017
Original Final Actual Actual
LOCAL TAXES
Property Taxes for Village
Current Year 2,125,852$ 2,125,852$ 2,172,548$ 2,063,393$
3ULRU<HDU (36,000) (36,000) (28,105) (35,412)
Property Taxes - Debt Service
Current Year 1,823,196 1,823,196 1,862,789 1,840,888
Prior Year (25,000) (25,000) (26,315) (32,783)
Property Taxes - Police and Firefighters'
Pension 6,486,660 6,486,660 6,519,429 6,331,880
Property Taxes - Other Village Pensions 1,680,906 1,680,906 1,714,272 1,724,746
Total Property Taxes 12,055,614 12,055,614 12,214,618 11,892,712
Other Taxes
Utility Taxes
Natural Gas 1,306,000 1,306,000 1,544,189 1,331,886
Electricty 2,249,217 2,249,217 2,240,268 2,137,495
Telecommunications 1,710,365 1,710,365 1,684,979 1,841,387
Hotel Room Tax 950,000 950,000 1,226,717 1,030,331
Amusement Tax 100,000 100,000 111,424 109,304
Home Rule Sales Tax 8,141,249 8,141,249 8,849,722 8,401,525
Business District Tax 30,000 30,000 37,815 32,938
Miscellaneous Tax 1,000 1,000 4,062 990
Total Other Taxes 14,487,831 14,487,831 15,699,176 14,885,856
Total Local Taxes 26,543,445 26,543,445 27,913,794 26,778,568
LICENSES AND PERMITS
Business Licenses 40,000 40,000 29,565 28,845
Liquor Licenses 200,000 200,000 197,133 130,154
Building Permits 2,100,000 2,100,000 2,335,044 2,018,060
Contractor's Fees 55,000 55,000 11,353 26,203
Engineering Fees 50,000 50,000 212,716 211,959
Oversized Vehicle Permits 16,000 16,000 18,915 28,365
Plan Fees 8,000 8,000 5,328 8,107
Total Licenses and Permits 2,469,000 2,469,000 2,810,054 2,451,693
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF REVENUES AND OTHER FINANCING SOURCES
For the Year Ended December 31, 2018
2018
Budgeted Amounts
Page 119
BUDGET AND ACTUAL - GENERAL FUND
With Comparative Actual Amounts for the Year Ended December 31, 2017
2017
Original Final Actual Actual
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF REVENUES AND OTHER FINANCING SOURCES
For the Year Ended December 31, 2018
2018
Budgeted Amounts
CHARGES FOR SERVICES
Dog Impound Fees 1,000$ 1,000$ 1,950$ 1,900$
Lease Fees 861,747 861,747 837,374 867,075
Natural Gas Franchise Fees 39,915 39,915 34,836 39,915
Cable Franchise Fees 757,500 757,500 805,917 848,675
Bidder Fees 1,000 1,000 395 960
Development Fees 3,288 3,288 3,288 164,605
Insurance Reimbursements 1,649,431 1,649,431 1,614,381 1,899,511
Copies 3,500 3,500 - 1,553
Special Event Fees 1,000 1,000 1,300 975
Inspection Fees 38,000 38,000 46,880 34,640
Refuse and Recycling Charges
Bin Sales - - 1,209 -
Yard Waste Sticker Sales 3,500 3,500 3,184 3,600
Tipping Fees 850,000 850,000 890,300 892,642
SWANCC Recycling Incentive - - 1,537 7,926
Joint Dispatch Charges
911 Surcharge 635,000 635,000 1,042,664 630,405
Fire Communication 15,889 15,889 15,889 15,889
Dispatch Services 6,026,970 6,026,970 6,226,028 6,473,054
Other Service Charges
Police Extra Duty 203,693 203,693 223,528 204,675
Reimbursements 50,000 50,000 158,572 76,980
Other Charges - Supervision 7,834 7,834 5,989 6,937
Miscellaneous 65,796 65,796 73,561 56,739
Administrative Fees for Governmental Funds
Library Fund 123,476 123,476 133,946 116,426
SWANCC Host Community Fees 90,000 90,000 116,227 114,118
Total Charges for Services 11,428,539 11,428,539 12,238,955 12,459,200
FINES AND FORFEITURES
Traffic Fines 115,500 115,500 85,310 105,675
Other Fines 84,000 84,000 44,971 105,917
Total Fines and Forfeitures 199,500 199,500 130,281 211,592
Page 120
BUDGET AND ACTUAL - GENERAL FUND
With Comparative Actual Amounts for the Year Ended December 31, 2017
2017
Original Final Actual Actual
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF REVENUES AND OTHER FINANCING SOURCES
For the Year Ended December 31, 2018
2018
Budgeted Amounts
INTERGOVERNMENTAL
Glenbrook Fire Protection District 2,279,937$ 2,279,937$ 2,220,662$ 3,446,197$
Village of Golf Fire Protection Services 164,000 164,000 142,999 170,797
Road and Bridge Taxes
Current Year 464,600 464,600 352,741 406,913
Prior Year (3,535) (3,535) (4,491) (6,499)
Sales Tax 17,173,545 17,173,545 18,072,001 17,223,884
Property Replacement Tax 162,711 162,711 203,235 248,714
Illinois Income Tax 4,271,032 4,271,032 4,508,718 4,075,812
Local Use Tax 1,173,008 1,173,008 1,373,010 1,172,235
Make-Whole Payment 1,598,434 1,598,434 1,607,145 1,559,393
Other intergovernmental grant proceeds - - 45,301 265,137
Total intergovernmental 27,283,732 27,283,732 28,521,321 28,562,583
INVESTMENT INCOME
Investment Income 164,549 164,549 477,824 225,985
Interest - Savings 99,660 99,660 129,472 106,477
Total Investment Income 264,209 264,209 607,296 332,462
OTHER FINANCING SOURCES
Transfers In
Wholesale Water Fund 325,000 325,000 325,000 325,000
Special Tax Allocation Fund 297,321 297,321 297,321 308,798
Insurance and Risk Fund 250,000 250,000 250,000 403,917
Village Permanent Fund - - 412,347 -
Corporate Purpose Bonds Fund - - 503 2,970
Total Other Financing Sources 872,321 872,321 1,285,171 1,040,685
Total Revenues and Other Financing
Sources 69,060,746$69,060,746$ 73,506,872$ 71,836,783$
Page 121
BUDGET AND ACTUAL - GENERAL FUND
With Comparative Actual Amounts for the Year Ended December 31, 2017
2017
Original Final Actual Actual
GENERAL GOVERNMENT
Village Board of Trustees
President and Board
Personnel 8,720$ 8,720$ 11,478$ 8,757$
Contractual Services 49,293 49,293 43,818 39,943
Commodities 350 350 - 12,456
Total President and Board 58,363 58,363 55,296 61,156
Special Board Appropriations
Personnel 66,741 66,741 16,296 65,587
Contractual Services 316,542 316,542 311,070 286,478
Commodities 2,000 2,000 810 17,910
Total Special Board Appropriations 385,283 385,283 328,176 369,975
Total Village Board of Trustees 443,646 443,646 383,472 431,131
Village Manager's Office
Administration Division
Personnel 693,758 704,240 701,870 694,330
Contractual Services 17,165 17,165 31,548 44,861
Other Charges 10,575 10,575 581 4,862
Total Administration Division 721,498 731,980 733,999 744,053
Human Resources Division
Personnel 261,889 264,887 264,894 290,772
Contractual Services 141,857 141,857 125,125 94,669
Commoditites 2,000 2,000 492 652
Other Charges 1,512,541 1,512,541 1,447,836 1,492,010
Total Human Resources Division 1,918,287 1,921,285 1,838,347 1,878,103
Communications Division
Personnel 183,546 183,546 199,878 172,729
Contractual Services 87,620 92,620 78,394 79,758
Commodities 2,410 2,410 1,622 2,159
Other Charges 1,900 1,900 511 363
Total Communications Division 275,476 280,476 280,405 255,009
Legal Division
Contractual Services 548,044 548,044 434,662 564,008
Total Legal Division 548,044 548,044 434,662 564,008
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF EXPENDITURES AND OTHER FINANCING USES
For the Year Ended December 31, 2018
2018
Budgeted Amounts
Page 122
BUDGET AND ACTUAL - GENERAL FUND
With Comparative Actual Amounts for the Year Ended December 31, 2017
2017
Original Final Actual Actual
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF EXPENDITURES AND OTHER FINANCING USES
For the Year Ended December 31, 2018
2018
Budgeted Amounts
GENERAL GOVERNMENT (cont.)
Village Manager's Office (cont.)
Joint Dispatch Division
Personnel 5,746,311$ 5,762,726$ 5,554,720$ 5,029,056$
Contractual Services 178,294 178,294 169,837 230,512
Commodities 33,200 33,200 26,226 26,093
Other Charges 233,704 570,251 246,031 442,596
Total Joint Dispatch Division 6,191,509 6,544,471 5,996,814 5,728,257
Total Village Manager's Office 9,654,814 10,026,256 9,284,227 9,169,430
Administrative Services
Administration
Personnel 280,236 291,579 322,966 382,339
Contractual Services 2,584 2,584 3,022 2,344
Other Charges 5,746 5,746 3,045 9,928
Total Administration 288,566 299,909 329,033 394,611
Finance
Personnel 639,738 648,824 561,999 654,039
Contractual Services 990,709 990,709 1,003,748 1,023,168
Commodities 800 800 434 -
Other Charges 13,385 13,385 3,160 1,074
Total Finance 1,644,632 1,653,718 1,569,341 1,678,281
General Government
Personnel 315,726 17,743 - -
Contractual Services 3,028,876 3,028,876 3,047,630 2,991,330
Commodities 46,682 46,682 36,315 49,368
Other Charges 655,466 645,466 206,547 7,323
Total General Government 4,046,750 3,738,767 3,290,492 3,048,021
Resolution Center
Personnel 377,680 379,843 363,937 359,256
Contractual Services 16,729 16,729 - 44,307
Other Charges 1,300 1,300 - -
Total Resolution Center 395,709 397,872 363,937 403,563
Page 123
BUDGET AND ACTUAL - GENERAL FUND
With Comparative Actual Amounts for the Year Ended December 31, 2017
2017
Original Final Actual Actual
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF EXPENDITURES AND OTHER FINANCING USES
For the Year Ended December 31, 2018
2018
Budgeted Amounts
GENERAL GOVERNMENT (cont.)
Administrative Services (cont.)
CADD Operations
Personnel -$ -$ -$ 66,438$
Contractual Services 237,612 237,612 204,546 198,240
Other Charges - - - 285
Total CADD Operations 237,612 237,612 204,546 264,963
Information Technology (IT)
Contractual Services 2,259,509 2,259,509 1,988,559 1,932,077
Commodities 104,429 104,429 98,455 86,595
Other Charges 449,230 449,230 428,572 411,965
Total Information Technology 2,813,168 2,813,168 2,515,586 2,430,637
Total Administrative Services 9,426,437 9,141,046 8,272,935 8,220,076
Total General Government 19,524,897 19,610,948 17,940,634 17,820,637
PUBLIC WORKS
Public Works Department
Personnel 2,618,369 2,663,854 2,433,076 3,076,630
Contractual Services 3,375,760 3,461,560 3,154,742 3,060,697
Commodities 1,248,363 1,285,443 1,221,156 1,261,039
Other Charges 1,214,785 1,214,785 1,022,090 1,047,660
Capital Outlay 405,000 405,000 402,069 309,973
Total Public Works Department 8,862,277 9,030,642 8,233,133 8,755,999
PUBLIC SAFETY
Police Department
Personnel 9,887,102 10,024,718 9,521,844 9,665,667
Contractual Services 649,584 649,584 616,596 644,730
Commodities 138,324 138,324 127,863 115,971
Other Charges 2,912,890 2,912,890 2,919,028 2,892,060
Total Police Department 13,587,900 13,725,516 13,185,331 13,318,428
Fire Department
Personnel 10,786,463 10,815,318 10,865,676 10,507,745
Contractual Services 358,507 358,507 309,473 258,063
Commodities 237,616 237,616 218,831 210,591
Other Charges 5,198,845 5,198,845 5,202,889 5,164,048
Total Fire Department 16,581,431 16,610,286 16,596,869 16,140,447
Total Public Safety 30,169,331 30,335,802 29,782,200 29,458,875
Page 124
BUDGET AND ACTUAL - GENERAL FUND
With Comparative Actual Amounts for the Year Ended December 31, 2017
2017
Original Final Actual Actual
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF EXPENDITURES AND OTHER FINANCING USES
For the Year Ended December 31, 2018
2018
Budgeted Amounts
COMMUNITY DEVELOPMENT
Community Development Department
Administration
Personnel 87,567$ 88,865$ 98,618$ 183,382$
Contractual Services 15,000 420,000 416,258 23,402
Commodities - - - 48
Other Charges 8,074 8,074 10,203 12,149
Total Administration 110,641 516,939 525,079 218,981
Inspection Services
Personnel 821,927 846,088 856,692 831,198
Contractual Services 874,833 874,833 764,023 852,412
Commodities 4,400 4,400 3,985 5,207
Other Charges 29,778 29,778 19,834 33,853
Total Inspection Services 1,730,938 1,755,099 1,644,534 1,722,670
Planning
3HUVRQQHO 450,744 455,087 485,082 498,655
Contractual Services 132,551 180,771 154,195 138,344
Commodities - - - 49
Other Charges 27,050 27,050 26,549 30,135
Total Planning 610,345 662,908 665,826 667,183
Engineering
Personnel 310,865 310,865 216,530 263,789
Contractual Services 344,942 344,942 416,749 339,532
Commodities 1,200 1,200 1,130 323
Other Charges 14,499 14,499 6,961 8,705
Total Engineering 671,506 671,506 641,370 612,349
Capital Projects
Personnel 257,195 260,935 262,584 285,302
Contractual Services 175 175 - -
Commodities - - - 596
Other Charges 3,135 3,135 1,000 431
Total Capital Projects 260,505 264,245 263,584 286,329
Total Community Development 3,383,935 3,870,697 3,740,393 3,507,512
Total Current Expenditures 61,940,440 62,848,089 59,696,360 59,543,023
Page 125
BUDGET AND ACTUAL - GENERAL FUND
With Comparative Actual Amounts for the Year Ended December 31, 2017
2017
Original Final Actual Actual
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF EXPENDITURES AND OTHER FINANCING USES
For the Year Ended December 31, 2018
2018
Budgeted Amounts
CAPITAL OUTLAY
Machinery and Equipment -$ -$ 18,618$ 725,398$
Total Expenditures 61,940,440 62,848,089 59,714,978 60,268,421
OTHER FINANCING USES
Transfers Out
Corporate Purpose Debt Service Fund 2,206,182 2,206,182 2,260,039 2,225,970
Capital Projects Fund 5,250,000 5,440,631 5,440,631 5,073,846
Total Other Financing Uses 7,456,182 7,646,813 7,700,670 7,299,816
Total Expenditures and Other Financing
Uses 69,396,622$70,494,902$ 67,415,648$ 67,568,237$
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, 2018
Motor Fuel
Tax Fund
Foreign Fire
Insurance
Fund
Police
Department
Special
Account Fund
Waukegan
Golf TIF Fund
ASSETS
Cash and Cash Equivalents $1,701,396 $298,537 $35,985 $767,994
Investments 244,400 --1,743,200
Receivables
Accounts ----
Grants ----
Accrued Interest ----
Other 3,582 --12,135
Due from Other Governments 101,518 ---
TOTAL ASSETS $ 2,050,896 $ 298,537 $ 35,985 $ 2,523,329
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES
Liabilities
Accounts Payable $196,758 $-$2,396 $292,139
Accrued Payroll ---287
Other Payables ---3,349
Total Liabilities 196,758 -2,396 295,775
Deferred Inflows of Resources
Unavailable Grant Revenue ----
Total Deferred Inflows of Resources ----
Fund Balances
Restricted for Street Improvements 1,854,138 ---
Restricted for Public Safety -298,537 33,589 -
Restricted for Economic Development ---2,227,554
Assigned to Debt Service Funds ----
Assigned to Capital Project Funds ----
Total Fund Balances 1,854,138 298,537 33,589 2,227,554
TOTAL LIABILITIES,
DEFERRED INFLOWS OF
RESOURCES, AND FUND
BALANCES $ 2,050,896 $ 298,537 $ 35,985 $ 2,523,329
Page 126
Corporate
Purpose
Bonds Fund
Capital
Projects Fund
Glen Capital
Projects Fund
Total
Nonmajor
Governmental
Funds
$225,070 $1,772,857 $387,715 $5,189,554
242,800 493,700 -2,724,100
-25,650 -25,650
-76,188 -76,188
857 139 -996
---15,717
---101,518
$ 468,727 $ 2,368,534 $ 387,715 $ 8,133,723
$-$788,703 $215,524 $1,495,520
---287
-508,930 77,872 590,151
-1,297,633 293,396 2,085,958
-282 -282
-282 -282
---1,854,138
---332,126
---2,227,554
468,727 --468,727
-1,070,619 94,319 1,164,938
468,727 1,070,619 94,319 6,047,483
$ 468,727 $ 2,368,534 $ 387,715 $ 8,133,723
Page 127
VILLAGE OF GLENVIEW
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
For the Year Ended December 31, 2018
Motor Fuel
Tax Fund
Foreign Fire
Insurance
Fund
Police
Department
Special
Account Fund
Waukegan
Golf TIF Fund
REVENUES
Property Taxes $-$-$-$1,525,617
Intergovernmental 2,131,356 120,049 --
Investment Income 38,820 3,555 575 46,512
Miscellaneous 1,864 ---
Total Revenues 2,172,040 123,604 575 1,572,129
EXPENDITURES
Current
Public Safety -75,446 --
Development ---271,630
Capital Outlay 2,059,405 -2,826 -
Debt Service
Principal ---595,000
Interest and Fiscal Charges ---108,058
Total Expenditures 2,059,405 75,446 2,826 974,688
Excess (deficiency) of revenues over
expenditures 112,635 48,158 (2,251)597,441
OTHER FINANCING SOURCES (USES)
Transfers In ----
Transfers Out ----
Total Other Financing Sources (Uses)----
Net Change in Fund Balances 112,635 48,158 (2,251)597,441
FUND BALANCES (DEFICIT) - Beginning of
Year 1,741,503 250,379 35,840 1,630,113
FUND BALANCES - END OF YEAR
END OF YEAR $ 1,854,138 $ 298,537 $ 33,589 $ 2,227,554
Page 128
Corporate
Purpose
Bonds Fund
Capital
Projects Fund
Glen Capital
Projects Fund
Total
Nonmajor
Governmental
Funds
$-$-$-$1,525,617
-289,993 437 2,541,835
16,512 30,095 10,231 146,300
-384,754 3,248 389,866
16,512 704,842 13,916 4,603,618
---75,446
---271,630
-4,767,341 2,178,047 9,007,619
1,615,000 24,371 -2,234,371
592,682 --700,740
2,207,682 4,791,712 2,178,047 12,289,806
(2,191,170)(4,086,870)(2,164,131)(7,686,188)
2,260,039 6,038,827 1,123,212 9,422,078
(503)--(503)
2,259,536 6,038,827 1,123,212 9,421,575
68,366 1,951,957 (1,040,919)1,735,387
400,361 (881,338)1,135,238 4,312,096
$ 468,727 $ 1,070,619 $ 94,319 $ 6,047,483
Page 129
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, 2018
With Comparative Actual Amounts for the Year Ended December 31, 2017
2018
Budgeted Amounts
Original Final Actual
2017
Actual
REVENUES
Intergovenmental
Motor Fuel Tax $1,965,200 $1,965,200 $2,131,356 $1,995,052
Investment Income 20,000 20,000 38,820 19,857
Miscellaneous --1,864 -
Total Revenues 1,985,200 1,985,200 2,172,040 2,014,909
EXPENDITURES
Capital Outlay 2,115,200 2,115,200 2,059,405 1,724,514
Total Expenditures 2,115,200 2,115,200 2,059,405 1,724,514
Net Change in Fund Balance $ (130,000)$ (130,000)112,635 290,395
FUND BALANCE - Beginning of Year 1,741,503 1,451,108
FUND BALANCE - END OF YEAR $ 1,854,138 $ 1,741,503
Page 130
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, 2018
With Comparative Actual Amounts for the Year Ended December 31, 2017
2018
Budgeted Amounts
Original Final Actual
2017
Actual
REVENUES
Intergovernmental $90,000 $90,000 $120,049 $117,564
Investment Income 2,400 2,400 3,555 2,119
Miscellaneous ---103
Total Revenues 92,400 92,400 123,604 119,786
EXPENDITURES
Public Safety
Contractual Services 10,830 10,830 11,935 12,540
Commodities 99,170 99,170 63,511 107,021
Total Expenditures 110,000 110,000 75,446 119,561
Net Change in Fund Balance $ (17,600)$ (17,600)48,158 225
FUND BALANCE - Beginning of Year 250,379 250,154
FUND BALANCE - END OF YEAR $ 298,537 $ 250,379
Page 131
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, 2018
With Comparative Actual Amounts for the Year Ended December 31, 2017
2018
Budgeted Amounts
Original Final Actual
2017
Actual
REVENUES
Investment Income $295 $295 $575 $346
Other Revenues ---2,233
Total Revenues 295 295 575 2,579
EXPENDITURES
Capital Outlay 10,000 10,000 2,826 -
Total Expenditures 10,000 10,000 2,826 -
Net Change in Fund Balance $ (9,705)$ (9,705)(2,251)2,579
FUND BALANCE - Beginning of Year 35,840 33,261
FUND BALANCE - END OF YEAR $ 33,589 $ 35,840
Page 132
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCE - BUDGET AND ACTUAL - WAUKEGAN GOLF TIF FUND - NONMAJOR SPECIAL
REVENUE FUND
For the Year Ended December 31, 2018
With Comparative Actual Amounts for the Year Ended December 31, 2017
2018
Budgeted Amounts
Original Final Actual
2017
Actual
REVENUES
Property Taxes - Incremental $1,230,176 $1,230,176 $1,525,617 $1,255,320
Investment Income 7,000 7,000 46,512 18,289
Total Revenues 1,237,176 1,237,176 1,572,129 1,273,609
EXPENDITURES
Community Development
Personnel 8,491 8,491 8,444 8,306
Contractual Services 224,456 224,456 263,186 105,833
Total Community Development 232,947 232,947 271,630 114,139
Debt service
Principal 595,000 595,000 595,000 585,000
Interest and Fiscal Charges 108,058 108,058 108,058 116,833
Total Expenditures 936,005 936,005 974,688 815,972
Net Change in Fund Balance $ 301,171 $ 301,171 597,441 457,637
FUND BALANCE - Beginning of Year 1,630,113 1,172,476
FUND BALANCE - END OF YEAR $ 2,227,554 $ 1,630,113
Page 133
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, 2018
With Comparative Actual Amounts for the Year Ended December 31, 2017
2018
Budgeted Amounts
Original Final Actual
2017
Actual
REVENUES
Investment Income $11,405 $11,405 $16,512 $9,122
Total Revenues 11,405 11,405 16,512 9,122
EXPENDITURES
Debt service
Principal 1,615,000 1,615,000 1,615,000 1,540,000
Interest and Fiscal Charges 592,682 592,682 592,682 649,382
Total Expenditures 2,207,682 2,207,682 2,207,682 2,189,382
Deficiency of revenues under
expenditures (2,196,277)(2,196,277)(2,191,170)(2,180,260)
OTHER FINANCING SOURCES
(USES)
Transfers In
General Fund 2,206,182 2,206,182 2,260,039 2,225,970
Transfers Out
General Fund --(503)(2,970)
Total Other Financing Sources
(Uses)2,206,182 2,206,182 2,259,536 2,223,000
Net Change in Fund Balance $ 9,905 $ 9,905 68,366 42,740
FUND BALANCE - Beginning of Year 400,361 357,621
FUND BALANCE - END OF YEAR $ 468,727 $ 400,361
Page 134
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, 2018
With Comparative Actual Amounts for the Year Ended December 31, 2017
2018
Budgeted Amounts
Original Final Actual
2017
Actual
REVENUES
Intergovernmental - Grants $383,960 $383,960 $289,993 $333,072
Investment Income 2,100 2,100 30,095 415
Other Revenues --12,453 -
Development - Other Revenues --372,301 251,628
Total Revenues 386,060 386,060 704,842 585,115
EXPENDITURES
Capital Outlay 4,694,959 4,982,328 4,767,341 10,403,668
Debt Service
Principal 24,371 24,371 24,371 24,371
Total Expenditures 4,719,330 5,006,699 4,791,712 10,428,039
Deficiency of revenues under
expenditures (4,333,270)(4,620,639)(4,086,870)(9,842,924)
OTHER FINANCING SOURCES
(USES)
Transfers In
General Fund 5,250,000 5,440,631 5,440,631 5,073,846
Wholesale Water Fund 540,130 540,130 540,130 524,398
Village Permanent Fund ---2,875,600
Commuter Parking Fund --22,000 -
Facilities Repair and
Replacement Fund --36,066 -
Total Other Financing Sources
(Uses)5,790,130 5,980,761 6,038,827 8,473,844
Net Change in Fund Balance $ 1,456,860 $ 1,360,122 1,951,957 (1,369,080)
FUND BALANCE (DEFICIT) - Beginning
of Year (881,338)487,742
FUND BALANCE (DEFICIT) - END
OF YEAR $ 1,070,619 $ (881,338)
Page 135
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, 2018
With Comparative Actual Amounts for the Year Ended December 31, 2017
2018
Budgeted Amounts
Original Final Actual
2017
Actual
REVENUES
Intergovernmental - Grants $-$-$437 $33,596
Investment Income 4,800 4,800 10,231 12,416
Development - Other Revenues 2,894 2,894 3,248 2,632
Other Revenues 1,194,146 1,194,146 --
Total Revenues 1,201,840 1,201,840 13,916 48,644
EXPENDITURES
Capital Outlay 3,696,113 3,696,113 2,178,047 330,893
Total Expenditures 3,696,113 3,696,113 2,178,047 330,893
Excess (deficiency) of revenues over
(under) expenditures (2,494,273)(2,494,273)(2,164,131)(282,249)
OTHER FINANCING SOURCES
(USES)
Transfers In
Special Tax Allocation Fund 2,499,073 2,499,073 1,123,212 -
Total Other Financing Sources
(Uses)2,499,073 2,499,073 1,123,212 -
Net Change in Fund Balance $ 4,800 $ 4,800 (1,040,919)(282,249)
FUND BALANCE - Beginning of Year 1,135,238 1,417,487
FUND BALANCE - END OF YEAR $ 94,319 $ 1,135,238
Page 136
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, 2018
With Comparative Actual Amounts for the Year Ended December 31, 2017
2018
Budgeted Amounts
Original Final Actual
2017
Actual
REVENUES
Lease Fees $156,000 $156,000 $-$-
Investment Income 87,742 87,742 477,187 265,136
Other Revenues --9,445 4,800
Total Revenues 243,742 243,742 486,632 269,936
EXPENDITURES
Community Development
Contractual Services 60,000 60,000 781 82,858
Total Expenditures 60,000 60,000 781 82,858
Excess of revenues over
expenditures 183,742 183,742 485,851 187,078
OTHER FINANCING SOURCES
(USES)
Property Sales 1,500,000 1,500,000 -2,461,000
Transfers Out
General Fund -(448,220)(412,347)-
Capital Projects Fund ---(2,875,600)
Glenview Sanitary Sewer Fund ---(47,119)
Total Other Financing Sources
(Uses)1,500,000 1,051,780 (412,347)(461,719)
Net Change in Fund Balance $ 1,683,742 $ 1,235,522 73,504 (274,641)
FUND BALANCE - Beginning of Year 28,804,052 29,078,693
FUND BALANCE - END OF YEAR $ 28,877,556 $ 28,804,052
Page 137
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, 2018
Wholesale
Water Fund
Commuter
Parking Lot
Fund
Total Nonmajor
Enterprise
Funds
ASSETS
Current Assets
Cash and Cash Equivalents $238,363 $1,429,554 $1,667,917
Investments -244,400 244,400
Receivables
Accounts 783,192 -783,192
Accrued Interest -3,579 3,579
Total Current Assets 1,021,555 1,677,533 2,699,088
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 (1,619,512)(1,049,904)(2,669,416)
Total Noncurrent Assets 893,121 2,191,195 3,084,316
Total Assets 1,914,676 3,868,728 5,783,404
DEFERRED OUTFLOWS OF RESOURCES
Deferred Outflows Related to OPEB 879 242 1,121
Total Deferred Outflows of Resources 879 242 1,121
LIABILITIES
Current Liabilities
Accounts Payable 194,366 12,345 206,711
Accrued Payroll 3,681 2,124 5,805
Compensated Absences - Current 1,094 479 1,573
Total Current Liabilities 199,141 14,948 214,089
Noncurrent Liabilities
Long-Term Debt
Compensated Absences 4,374 1,915 6,289
Total OPEB Liability 12,463 3,438 15,901
Total Noncurrent Liabilities 16,837 5,353 22,190
Total Liabilities 215,978 20,301 236,279
DEFERRED INFLOWS OF RESOURCES
Deferred Inflows Related to OPEB 329 91 420
Total Deferred Inflows of Resources 329 91 420
NET POSITION
Net Investment in Capital Assets 893,121 2,191,195 3,084,316
Unrestricted 806,127 1,657,383 2,463,510
TOTAL NET POSITION $ 1,699,248 $ 3,848,578 $ 5,547,826
Page 138
Page 139
NONMAJOR ENTERPRISE FUNDS
Commuter Total Nonmajor
Wholesale Parking Lot Enterprise
Water Fund Fund Funds
Operating Revenues
Charges for Sales and Services
Parking Meter Fees -$ 261,328$ 261,328$
Parking Decals - 427,886 427,886
Water Charges 2,087,268 -2,087,268
Total Charges for Sales and Services 2,087,268 689,214 2,776,482
Miscellaneous Revenue 698 7,380 8,078
Total Operating Revenues 2,087,966 696,594 2,784,560
Operating Expenses
Operations 1,342,142 596,437 1,938,579
Depreciation and Amortization 62,816 81,907 144,723
Total Operating Expenses 1,404,958 678,344 2,083,302
Operating income 683,008 18,250 701,258
Non-Operating Revenues
Investment Income 5,056 28,818 33,874
Total non-operating revenues 5,056 28,818 33,874
Net income before transfers 688,064 47,068 735,132
Transfers
Transfers Out (865,130)(217,674)(1,082,804)
Change in Net Position (177,066) (170,606) (347,672)
NET POSITION - Beginning of Year (as restated) 1,876,314 4,019,184 5,895,498
NET POSITION - END OF YEAR 1,699,248$3,848,578$5,547,826$
VILLAGE OF GLENVIEW
COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION
As of December 31, 2018
VILLAGE OF GLENVIEW
COMBINING STATEMENT OF CASH FLOWS
NONMAJOR ENTERPRISE FUNDS
For the Year Ended December 31, 2018
Wholesale
Water Fund
Commuter
Parking Lot
Fund Totals
CASH FLOWS FROM OPERATING ACTIVITIES
Received from Customers $1,814,356 $696,594 $2,510,950
Paid to Suppliers for Goods and Services (1,174,465)(560,210)(1,734,675)
Paid to Employees for Services (130,723)(59,725)(190,448)
Net Cash Flows From Operating Activities 509,168 76,659 585,827
CASH FLOWS FROM INVESTING ACTIVITIES
Investments Sold and Matured 496,562 1,249,099 1,745,661
Investment Income 5,220 30,936 36,156
Purchase of Investments (247,500)(244,400)(491,900)
Net Cash Flows From Investing Activities 254,282 1,035,635 1,289,917
CASH FLOWS FROM NONCAPITAL FINANCING
ACTIVITIES
Transfers Out (865,130)(217,674)(1,082,804)
Net Cash Flows From Noncapital Financing Activities (865,130)(217,674)(1,082,804)
Net Change in Cash and Cash Equivalents (101,680)894,620 792,940
CASH AND CASH EQUIVALENTS - Beginning of Year 340,043 534,934 874,977
CASH AND CASH EQUIVALENTS - END OF YEAR $ 238,363 $ 1,429,554 $ 1,667,917
RECONCILIATION OF OPERATING INCOME TO NET
CASH FLOWS FROM OPERATING ACTIVITIES
Operating Income $683,008 $18,250 $701,258
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 (273,610)-(273,610)
Accounts Payable 36,195 (26,326)9,869
Accrued Salaries (1,493)362 (1,131)
Compensated Absences Payable 1,994 2,394 4,388
Total OPEB Liability 808 223 1,031
Deferred Outflows Related to OPEB (879)(242)(1,121)
Deferred Inflows Related to OPEB 329 91 420
NET CASH FLOWS FROM OPERATING
ACTIVITIES $ 509,168 $ 76,659 $ 585,827
NONCASH CAPITAL AND RELATED FINANCING
ACTIVITIES
None
Page 140
Page 141
WHOLESALE WATER FUND - NONMAJOR ENTERPRISE FUND
With Comparative Actual Amounts for the Year Ended December 31, 2017
2017
Original Final Actual Actual
Operating Revenues
Charges for Sales and Services
Water Charges 2,199,522$2,199,522$2,087,268$2,361,124$
Total operating revenue 2,199,522 2,199,522 2,087,268 2,361,124
Miscellaneous Revenue
Other Revenues --698 -
Total Miscellaneous Revenue --698 -
Total Operating Revenues 2,199,522 2,199,522 2,087,966 2,361,124
Operating Expenses
Water Services
Personnel 141,221 141,221 131,482 88,948
Contractual Services 1,220,374 1,220,374 1,177,365 1,206,987
Commodities 17,850 17,850 13,203 19,084
Other Charges 20,092 20,092 20,092 15,495
Total Operating Expenses 1,399,537 1,399,537 1,342,142 1,330,514
Operating income 799,985 799,985 745,824 1,030,610
Non-Operating Revenues
Investment Income 2,500 2,500 5,056 1,505
Total Non-Operating Revenues 2,500 2,500 5,056 1,505
Net Income Before Transfers 802,485 802,485 750,880 1,032,115
Transfers Out
General Fund (325,000) (325,000) (325,000) (325,000)
Capital Projects Fund (540,130)(540,130)(540,130)(524,398)
Total Transfers Out (865,130)(865,130)(865,130)(849,398)
Change in Net Position - Budgetary Basis (62,645)$(62,645)$(114,250) 182,717
Adjustments to GAAP Basis
Depreciation and Amortization (62,816)(62,816)
Change in Net Position - GAAP Basis (177,066)119,901
NET POSITION - Beginning of Year, as previously reported 1,887,969 1,768,068
Restatement of Beginning of Year Net Position (11,655)-
NET POSITION - Beginning of Year, as restated 1,876,314 1,768,068
NET POSITION - END OF YEAR 1,699,248$1,887,969$
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF REVENUES, EXPENSES AND CHANGES IN NET POSITION - BUDGET AND ACTUAL (Budgetary Basis)
For the Year Ended December 31, 2018
2018
Budgeted Amount
Page 142
COMMUTER PARKING LOT FUND - NONMAJOR ENTERPRISE FUND
With Comparative Actual Amounts for the Year Ended December 31, 2017
2017
Original Final Actual Actual
Operating Revenues
Charges for Sales and Services
Parking Meter Fees 233,312$233,312$261,328$ 242,861$
Parking Decals 392,545 392,545 427,886 403,363
Total Charges for Sales and Services 625,857 625,857 689,214 646,224
Miscellaneous Revenue
Vendor Lease Rental Fee 10,260 10,260 6,810 8,845
Other Revenues --570 238,509
Total Miscellaneous Revenue 10,260 10,260 7,380 247,354
Total Operating Revenues 636,117 636,117 696,594 893,578
Operating Expenses
Water Services
Personnel 58,013 58,013 62,191 -
Contractual Services 329,824 329,824 169,814 179,031
Commodities 77,561 77,561 43,247 51,529
Other Charges 167,293 167,293 167,210 140,596
Capital Outlay 19,970 174,320 153,975 88,741
Total Operating Expenses 652,661 807,011 596,437 459,897
Operating Income (Loss)(16,544)(170,894)100,157 433,681
Non-Operating Revenues
Investment Income 13,630 13,630 28,818 7,563
Total Non-Operating Revenues 13,630 13,630 28,818 7,563
Net income (loss) before transfers (2,914)(157,264)128,975 441,244
Transfers Out
Capital Projects Fund (22,000) (22,000) (22,000) -
Facilities Repair and Replacement Fund (195,674)(195,674)(195,674)-
Total Transfers Out (217,674)(217,674)(217,674)-
Change in Net Position - Budgetary Basis (220,588)$(374,938)$(88,699) 441,244
Adjustments to GAAP Basis
Acquisition of Capital Assets - 52,372
Depreciation and Amortization (81,907)(81,907)
Change in Net Position - GAAP Basis (170,606)411,709
NET POSITION - Beginning of Year, as previously reported 4,022,399 3,610,690
Restatement of Beginning of Year Net Position (3,215)-
NET POSITION - Beginning of Year 4,019,184 3,610,690
NET POSITION - END OF YEAR 3,848,578$4,022,399$
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF REVENUES, EXPENSES AND CHANGES IN NET POSITION - BUDGET AND ACTUAL (Budgetary Basis)
For the Year Ended December 31, 2018
2018
Budgeted Amount
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 - to account 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 - to account 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, 2017
2017
Original Final Actual Actual
Operating Revenues
Charges for Sales and Services
Water Charges 14,362,859$ 14,362,859$ 14,359,059$ 14,218,250$
Water Connection Charges 100,000 100,000 200,549 128,332
Water Meter and Remote Readers 2,700 2,700 5,462 5,830
Total Charges for Sales and Services 14,465,559 14,465,559 14,565,070 14,352,412
Miscellaneous Revenue
Late Payment Fees 155,000 155,000 191,608 168,985
Water for Construction 15,000 15,000 26,116 53,202
Other 39,106 39,106 52,028 49,749
Total Miscellaneous Revenue 209,106 209,106 269,752 271,936
Total Operating Revenues 14,674,665 14,674,665 14,834,822 14,624,348
Operating Expenses
Water Services
Personnel 2,834,898 2,834,898 2,714,130 2,436,699
Contractual Services 5,030,462 5,079,784 4,782,551 5,060,772
Commodities 873,756 873,756 704,943 765,429
Other Charges 944,942 944,942 884,649 769,857
Capital Outlay 4,005,539 4,411,556 4,271,211 4,597,956
Total Operating Expenses 13,689,597 14,144,936 13,357,484 13,630,713
Operating Income (Loss)985,068 529,729 1,477,338 993,635
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF REVENUES, EXPENSES AND CHANGES IN NET POSITION - BUDGET AND ACTUAL (Budgetary Basis)
For the Year Ended December 31, 2018
2018
Budgeted Amount
Page 143
Page 144
GLENVIEW WATER FUND - MAJOR ENTERPRISE FUND
With Comparative Actual Amounts for the Year Ended December 31, 2017
2017
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, 2018
2018
Budgeted Amount
Non-Operating Revenues (Expenses)
Investment Income 5,000$ 5,000$ 57,293$ 8,124$
Debt Service
Principal (375,052) (375,052) (468,815) (281,289)
Interest and Fiscal Charges (104,766)(104,766)(103,972)(103,992)
Total Non-Operating Revenues (Expenses) (474,818)(474,818)(515,494)(377,157)
Net income (loss) before transfers 510,250 54,911 961,844 616,478
Transfers In
Glenview Sanitary Sewer Fund --93,763 56,258
Total Transfers In --93,763 56,258
Change in Net Position - Budgetary Basis 510,250$54,911$1,055,607 672,736
Adjustments to GAAP Basis
Acquisition of Capital Assets 1,916,536 1,964,362
Depreciation and Amortization (1,357,727) (1,348,105)
Principal Expense 468,815 281,289
Change in Net Position - GAAP Basis 2,083,231 1,570,282
NET POSITION - Beginning of Year, as previously reported 36,112,836 34,542,554
Restatement of Beginning of Year Net Position (207,391)-
NET POSITION - Beginning of Year 35,905,445 34,542,554
NET POSITION - END OF YEAR 37,988,676$36,112,836$
Page 145
GLENVIEW SANITARY SEWER FUND - MAJOR ENTERPRISE FUND
With Comparative Actual Amounts for the Year Ended December 31, 2017
2017
Original Final Actual Actual
Operating Revenues
Charges for Sales and Services
Sewer Charges 2,457,722$ 2,457,722$ 2,353,848$ 2,414,525$
Sewer Connection Charges 8,000 8,000 10,890 8,760
Total Charges for Sales and Services 2,465,722 2,465,722 2,364,738 2,423,285
Miscellaneous Revenue
Other 70,644 70,644 73,566 73,192
Total Miscellaneous Revenue 70,644 70,644 73,566 73,192
Total Operating Revenues 2,536,366 2,536,366 2,438,304 2,496,477
Operating Expenses
Sewerage Services
Personnel 582,848 582,848 545,816 566,243
Contractual Services 129,296 129,296 92,966 140,557
Commodities 44,263 44,263 28,950 43,183
Other Charges 145,635 145,635 149,680 156,522
Capital Outlay 1,314,240 1,341,959 1,615,681 1,114,768
Total Operating Expenses 2,216,282 2,244,001 2,433,093 2,021,273
Operating Income 320,084 292,365 5,211 475,204
Non-Operating Revenues (Expenses)
Fines and Fees 4,000 4,000 2,523 8,301
Heatherfield
Investment Income 1,000 1,000 10,316 1,057
Debt Service
Principal (93,763) (93,763) - -
Interest and Fiscal Charges (26,191)(26,191)(26,188)(27,304)
Total Non-Operating Revenues (Expenses)(114,954)(114,954)(13,349)(17,946)
Net Income (Loss) Before Transfers 205,130 177,411 (8,138)457,258
Transfers In (Out)
Village Permanent Fund ---47,119
Glenview Water Fund --(93,763)(56,258)
Total Transfers In (Out) --(93,763)(9,139)
Change in net position - budgetary basis 205,130$ 177,411$ (101,901) 448,119
Adjustments to GAAP basis
Acquisition of Capital Assets 810,041 242,938
Depreciation and Amortization (503,553)(487,354)
Change in Net Position - GAAP Basis 204,587 203,703
NET POSITION - Beginning of Year, as previously reported 19,679,672 19,475,969
Restatement of Beginning of Year Net Position (36,524)-
NET POSITION - Beginning of Year 19,643,148 19,475,969
NET POSITION - END OF YEAR 19,847,735$ 19,679,672$
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF REVENUES, EXPENSES AND CHANGES IN NET POSITION - BUDGET AND ACTUAL (Budgetary Basis)
For the Year Ended December 31, 2018
2018
Budgeted Amount
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
purchases excess liability coverage through the open insurance market. 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, 2018
Capital
Equipment
Replacement
Fund (CERF)
Municipal
Equipment
Repair Fund
(MERF)
Insurance and
Risk Fund
Facilities
Repair and
Replacement
Fund (FRRF)Totals
ASSETS
Current Assets
Cash and Cash Equivalents $2,377,427 $121,986 $1,419,024 $1,334,811 $5,253,248
Investments 4,453,632 -4,924,318 1,218,400 10,596,350
Receivables
Accounts -23,938 130,376 67,705 222,019
Accrued Interest 38,766 -59,169 14,468 112,403
Grants 327,667 ---327,667
Other --60,000 -60,000
Prepaid Items --126,855 -126,855
Inventories -389,395 --389,395
Deposits --620,854 -620,854
Total Current Assets 7,197,492 535,319 7,340,596 2,635,384 17,708,791
LIABILITIES
Current Liabilities
Accounts Payable 891,683 131,493 114,237 5,720 1,143,133
Accrued Payroll -13,602 8,514 461 22,577
Other Payables -1,009 -724 1,733
Due to Other Funds --1,233 -1,233
Claims Payable --562,974 -562,974
Unearned Revenues --22,697 -22,697
Total Current Liabilities 891,683 146,104 709,655 6,905 1,754,347
Noncurrent Liabilities
Claims Payable --844,462 -844,462
Total Noncurrent Liabilities --844,462 -844,462
Total Liabilities 891,683 146,104 1,554,117 6,905 2,598,809
NET POSITION
Unrestricted 6,305,809 389,215 5,786,479 2,628,479 15,109,982
TOTAL NET POSITION $ 6,305,809 $ 389,215 $ 5,786,479 $ 2,628,479 $ 15,109,982
Page 146
VILLAGE OF GLENVIEW
COMBINING STATEMENT OF REVENUES, EXPENSES, AND
CHANGES IN NET POSITION
INTERNAL SERVICE FUNDS
For the Year Ended December 31, 2018
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 $2,176,436 $1,215,519 $7,511,217 $994,700 $11,897,872
Intergovernmental 327,667 ---327,667
Miscellaneous 1,451 113,277 82,994 71,930 269,652
Total Operating Revenues 2,505,554 1,328,796 7,594,211 1,066,630 12,495,191
OPERATING EXPENSES
Personnel -427,326 558,046 11,201 996,573
Contractual Services -331,805 6,614,934 41,856 6,988,595
Commodities 208,105 184,695 454 -393,254
Other Charges -422,745 --422,745
Capital Outlay 92,632 --153,107 245,739
Total Operating Expenses 300,737 1,366,571 7,173,434 206,164 9,046,906
Operating Income (Loss)2,204,817 (37,775)420,777 860,466 3,448,285
NONOPERATING REVENUES
Investment Income 89,595 61 117,627 28,855 236,138
Gain on Sale of Capital Assets 52,458 ---52,458
Reassignment of Capital Assets (846,258)---(846,258)
Total Nonoperating Revenues (704,205)61 117,627 28,855 (557,662)
Income (Loss) Before Transfers 1,500,612 (37,714)538,404 889,321 2,890,623
TRANSFERS
Transfers In ---195,674 195,674
Transfers Out --(250,000)(36,066)(286,066)
Total Transfers --(250,000)159,608 (90,392)
Change in net position 1,500,612 (37,714)288,404 1,048,929 2,800,231
NET POSITION - Beginning of Year 4,805,197 426,929 5,498,075 1,579,550 12,309,751
NET POSITION - END OF YEAR $ 6,305,809 $ 389,215 $ 5,786,479 $ 2,628,479 $ 15,109,982
Page 147
VILLAGE OF GLENVIEW
COMBINING STATEMENT OF CASH FLOWS
INTERNAL SERVICE FUNDS
For the Year Ended December 31, 2018
Capital
Equipment
Replacement
Fund (CERF)
Municipal
Equipment
Repair Fund
(MERF)
Insurance and
Risk Fund
Facilities
Repair and
Replacement
Fund (FRRF)Totals
CASH FLOWS FROM OPERATING
ACTIVITIES
Received from Customers $2,177,782 $1,330,548 $7,528,792 $998,925 $12,036,047
Paid to Suppliers for Goods and
Services (620,433)(1,009,776)(6,846,821)(219,110)(8,696,140)
Paid to Employees for Services -(431,078)(558,395)-(989,473)
Net Cash Flows From Operating
Activities 1,557,349 (110,306)123,576 779,815 2,350,434
CASH FLOWS FROM INVESTING
ACTIVITIES
Investment Income 75,842 61 91,132 21,590 188,625
Sale of Investments 1,993,930 -2,485,645 1,194,465 5,674,040
Purchase of Investments (1,978,100)-(1,942,785)(1,218,400)(5,139,285)
Net Cash Flows From Investing
Activities 91,672 61 633,992 (2,345)723,380
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES
Transfers In ---195,674 195,674
Transfers Out --(250,000)(36,066)(286,066)
Net Cash Flows From Noncapital
Financing Activities --(250,000)159,608 (90,392)
CASH FLOWS FROM CAPITAL AND
RELATED FINANCING ACTIVITIES
Proceeds from Sale of Capital Assets 52,458 ---52,458
Acquisition and Construction of Capital
Assets (111,064)---(111,064)
Net Cash Flows From Capital and
Related Financing Activities (58,606)---(58,606)
Net Change in Cash and Cash
Equivalents 1,590,415 (110,245)507,568 937,078 2,924,816
CASH AND CASH EQUIVALENTS -
Beginning of Year 787,012 232,231 911,456 397,733 2,328,432
CASH AND CASH EQUIVALENTS -
END OF YEAR $ 2,377,427 $ 121,986 $ 1,419,024 $ 1,334,811 $ 5,253,248
Page 148
VILLAGE OF GLENVIEW
COMBINING STATEMENT OF CASH FLOWS
INTERNAL SERVICE FUNDS
For the Year Ended December 31, 2018
Capital
Equipment
Replacement
Fund (CERF)
Municipal
Equipment
Repair Fund
(MERF)
Insurance and
Risk Fund
Facilities
Repair and
Replacement
Fund (FRRF)Totals
RECONCILIATION OF OPERATING
INCOME (LOSS) TO NET CASH FLOWS
FROM OPERATING ACTIVITIES
Operating income (loss)$2,204,817 $(37,775)$420,777 $860,466 $3,448,285
Changes in assets and liabilities
Accounts Receivable (327,772)1,752 (60,247)(67,705)(453,972)
Inventory -(22,357)--(22,357)
Deposits --(7,245)-(7,245)
Prepaid Items --(27,256)-(27,256)
Accounts Payable (319,696)(48,174)84,459 (13,000)(296,411)
Claims Payable --(273,604)-(273,604)
Accrued Salaries -(3,752)(349)54 (4,047)
Due to Other Funds --(15,032)-(15,032)
Unearned Revenues --2,073 -2,073
NET CASH FLOWS FROM
OPERATING ACTIVITIES $ 1,557,349 $ (110,306)$ 123,576 $ 779,815 $ 2,350,434
NONCASH CAPITAL AND RELATED
FINANCING ACTIVITIES
None
Page 149
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, 2018
With Comparative Actual Amounts for the Year Ended December 31, 2017
2018
Budgeted Amounts
Original Final Actual
2017
Actual
OPERATING REVENUES
Charges for Services
CERF Charges $2,176,436 $2,176,436 $2,176,436 $2,113,156
Other Charges ---90
Intergovernmental - Gants and Loans --327,667 -
Other Revenues --1,451 -
Total Operating Revenues 2,176,436 2,176,436 2,505,554 2,113,246
OPERATING EXPENSES
Commodities 242,953 242,953 208,105 189,695
Machinery and Equipment 98,766 98,766 59,605 76,398
Computer Servers 90,175 90,175 31,242 64,127
Vehicles 1,046,651 1,046,651 -659,005
System Improvements 28,000 655,264 1,785 14,675
Other Charges ---105
Total Operating Expenses 1,506,545 2,133,809 300,737 1,004,005
Operating income 669,891 42,627 2,204,817 1,109,241
NON-OPERATING REVENUES
Investment Income 56,400 56,400 89,595 44,590
Gain on Sale of Capital Assets 71,400 71,400 52,458 97,900
Reassignment of Capital Assets --(846,258)(1,434,652)
Total Non-Operating Revenues 127,800 127,800 (704,205)(1,292,162)
Change in net position $797,691 $ 170,427 1,500,612 (182,921)
NET POSITION - Beginning of Year 4,805,197 4,988,118
NET POSITION - END OF YEAR $ 6,305,809 $ 4,805,197
Page 150
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, 2018
With Comparative Actual Amounts for the Year Ended December 31, 2017
2018
Budgeted Amounts
Original Final Actual
2017
Actual
OPERATING REVENUES
Charges for Services
Village $1,466,405 $1,466,405 $1,212,440 $1,193,870
Library 5,000 5,000 3,079 2,555
Other Charges 165,000 165,000 113,277 118,639
Total Operating Revenues 1,636,405 1,636,405 1,328,796 1,315,064
OPERATING EXPENSES
Personnel 440,802 440,802 427,326 415,375
Contractual Services 428,300 428,300 331,805 416,742
Commodities 235,065 235,065 184,695 191,995
Other Charges 527,248 527,248 422,745 316,798
Capital Outlay ---103
Total Operating Expenses 1,631,415 1,631,415 1,366,571 1,341,013
Operating Income (Loss)4,990 4,990 (37,775)(25,949)
NON-OPERATING REVENUES
Investment Income --61 27
Total Non-Operating Revenues --61 27
Change in net position $ 4,990 $ 4,990 (37,714)(25,922)
NET POSITION - Beginning of Year 426,929 452,851
NET POSITION - END OF YEAR $ 389,215 $ 426,929
Page 151
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, 2018
With Comparative Actual Amounts for the Year Ended December 31, 2017
2018
Budgeted Amounts
Original Final Actual
2017
Actual
OPERATING REVENUES
Charges for Services
Employees $768,000 $768,000 $768,019 $739,401
Village 3,500,954 3,500,954 3,519,257 3,394,674
Retirees 1,013,471 1,013,471 916,047 891,301
Component Unit - Library 583,200 583,200 606,219 540,006
Other 1,701,675 1,701,675 1,701,675 1,716,771
Miscellaneous
Insurance Recoveries 50,000 50,000 66,619 51,026
Other 12,767 12,767 9,075 20,737
Other Charges --7,300 -
Total Operating Revenues 7,630,067 7,630,067 7,594,211 7,353,916
OPERATING EXPENSES
Personnel 705,478 705,478 558,046 574,639
Contractual Services 7,206,120 7,242,870 6,614,934 6,649,374
Commodities --454 513
Total Operating Expenses 7,911,598 7,948,348 7,173,434 7,224,526
Operating income (loss)(281,531)(318,281)420,777 129,390
NON-OPERATING REVENUES
Investment Income 150,750 150,750 117,627 242,252
Total Non-Operating Revenues 150,750 150,750 117,627 242,252
Net Income (Loss) Before
Transfers (130,781)(167,531)538,404 371,642
TRANSFERS OUT
General Fund (250,000)(250,000)(250,000)(403,917)
Transfers Out (250,000)(250,000)(250,000)(403,917)
Change in net position $ (380,781)$ (417,531)288,404 (32,275)
NET POSITION - Beginning of Year 5,498,075 5,530,350
NET POSITION - END OF YEAR $ 5,786,479 $ 5,498,075
Page 152
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, 2018
With Comparative Actual Amounts for the Year Ended December 31, 2017
2018
Budgeted Amounts
Original Final Actual
2017
Actual
OPERATING REVENUES
Charges for Services
Facilities Charges $994,699 $994,699 $994,700 $1,186,469
Other Charges --71,930 6,117
Total Operating Revenues 994,699 994,699 1,066,630 1,192,586
OPERATING EXPENSES
Personnel 11,170 11,170 11,201 -
Contractual Services 110,293 110,293 41,856 58,542
Capital outlay 900,210 900,210 153,107 77,749
Total Operating Expenses 1,021,673 1,021,673 206,164 136,291
Operating Income (Loss)(26,974)(26,974)860,466 1,056,295
NON-OPERATING REVENUES
Reassignment of Capital Assets ---(992,546)
Investment Income 9,000 9,000 28,855 7,688
Total Non-Operating Revenues 9,000 9,000 28,855 (984,858)
Net Income (Loss) Before
Transfers (17,974)(17,974)889,321 71,437
TRANSFERS IN (OUT)
Commuter Parking Fund 195,674 195,674 195,674 -
Capital Projects Fund --(36,066)-
Transfers In (out) 195,674 195,674 159,608 -
Change in net position $ 177,700 $ 177,700 1,048,929 71,437
NET POSITION - Beginning of Year 1,579,550 1,508,113
NET POSITION - END OF YEAR $ 2,628,479 $ 1,579,550
Page 153
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, 2018
Police Pension
Fund
Firefighters'
Pension Fund Totals
ASSETS
Cash and Cash Equivalents $3,955,313 $80,724 $4,036,037
Investments
U.S. Treasuries 6,593,621 4,316,570 10,910,191
U.S. Agencies 7,662,302 21,254,598 28,916,900
Mutual Funds 41,763,689 48,992,884 90,756,573
Corporate Obligations 13,657,583 -13,657,583
Municipal Obligations 563,404 4,780,650 5,344,054
Receivables
Accrued Interest 193,649 183,594 377,243
Due from Primary Government 1,288 2,112 3,400
Prepaid Items 6,137 4,906 11,043
Total Assets 74,396,986 79,616,038 154,013,024
LIABILITIES
Accrued Expenses 18,963 37,757 56,720
Total Liabilities 18,963 37,757 56,720
NET POSITION
Restricted for pension benefits $ 74,378,023 $ 79,578,281 $ 153,956,304
Page 154
VILLAGE OF GLENVIEW
COMBINING STATEMENT OF CHANGES IN FIDUCIARY NET POSITION
PENSION TRUST FUNDS
For the Year Ended December 31, 2018
Police Pension
Fund
Firefighters'
Pension Fund Total
ADDITIONS
Contributions
Employer $2,470,705 $4,048,725 $6,519,430
Participant 751,474 814,043 1,565,517
Total Contributions 3,222,179 4,862,768 8,084,947
Investment Income
Net Appreciation in Fair Value of Investments (6,973,465)(7,544,266)(14,517,731)
Interest Income 3,465,950 3,709,348 7,175,298
Total Investment Income (3,507,515)(3,834,918)(7,342,433)
Less Investment Expense 82,136 152,347 234,483
Net Investment Income (3,589,651)(3,987,265)(7,576,916)
Total Additions (367,472)875,503 508,031
DEDUCTIONS
Retirement Pensions 4,191,283 4,933,430 9,124,713
Widow Pensions 220,240 582,663 802,903
Disability Pensions 123,482 478,962 602,444
Children's Pensions 48,270 -48,270
Contribution Refunds 24,082 -24,082
Administration 61,122 69,772 130,894
Total Deductions 4,668,479 6,064,827 10,733,306
Change in Net Position (5,035,951)(5,189,324)(10,225,275)
NET POSITION - Beginning of Year 79,413,974 84,767,605 164,181,579
NET POSITION - END OF YEAR $ 74,378,023 $ 79,578,281 $ 153,956,304
Page 155
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF CHANGES IN FIDUCIARY NET POSITION - BUDGET AND ACTUAL
POLICE PENSION FUND - PENSION TRUST FUND
For the Year Ended December 31, 2018
With Comparative Actual Amounts for the Year Ended December 31, 2017
2018
Original Budget Final Budget Actual 2017 Actual
Additions
Contributions
Employer $2,448,164 $2,448,164 $2,470,705 $2,492,386
Participant 738,383 738,383 751,474 712,432
Total Contributions 3,186,547 3,186,547 3,222,179 3,204,818
Investment Income
Net Appreciation in Fair Value of
Investments 4,000,000 4,000,000 (6,973,465)5,492,067
Interest Income 850,000 850,000 3,465,950 3,024,105
Total Investment Income 4,850,000 4,850,000 (3,507,515)8,516,172
Less Investment Expense 88,244 88,244 82,136 134,132
Net Investment Income 4,761,756 4,761,756 (3,589,651)8,382,040
Total Additions 7,948,303 7,948,303 (367,472)11,586,858
Deductions
Retirement Pensions 3,758,695 3,758,695 4,191,283 3,722,924
Widow Pensions 295,614 295,614 220,240 284,700
Disability Pensions 175,847 175,847 123,482 122,455
Children's Pensions --48,270 48,270
Contribution Refunds 50,000 50,000 24,082 -
Administration 70,585 70,585 61,122 -
Total Deductions 4,350,741 4,350,741 4,668,479 4,178,349
Change in Net Position $ 3,597,562 $ 3,597,562 (5,035,951)7,408,509
NET POSITION - Beginning of Year 79,413,974 72,005,465
NET POSITION - END OF YEAR $ 74,378,023 $ 79,413,974
Page 156
VILLAGE OF GLENVIEW
DETAILED SCHEDULE OF CHANGES IN FIDUCIARY NET POSITION - BUDGET AND ACTUAL
FIREFIGHTERS' PENSION FUND - PENSION TRUST FUND
For the Year Ended December 31, 2018
With Comparative Actual Amounts for the Year Ended December 31, 2017
2018
Original Budget Final Budget Actual 2017 Actual
Additions
Contributions
Employer $4,011,045 $4,011,045 $4,048,725 $3,839,494
Participant 780,282 780,282 814,043 801,858
Total contributions 4,791,327 4,791,327 4,862,768 4,641,352
Investment Income
Net Appreciation in Fair Value of
Investments 4,000,000 4,000,000 (7,544,266)6,951,967
Interest Income 1,300,000 1,300,000 3,709,348 3,650,588
Total Investment Income 5,300,000 5,300,000 (3,834,918)10,602,555
Less Investment Expense 174,667 174,667 152,347 216,756
Net Investment Income 5,125,333 5,125,333 (3,987,265)10,385,799
Total Additions 9,916,660 9,916,660 875,503 15,027,151
Deductions
Retirement Pensions 5,055,959 5,055,959 4,933,430 4,853,954
Widow Pensions 554,525 554,525 582,663 557,897
Disability Pensions 481,423 481,423 478,962 507,696
Children's Pensions ---1,952
Contribution Refunds 50,000 50,000 --
Administration 75,731 75,731 69,772 -
Total Deductions 6,217,638 6,217,638 6,064,827 5,921,499
Change in Net Position $ 3,699,022 $ 3,699,022 (5,189,324)9,105,652
NET POSITION - Beginning of Year 84,767,605 75,661,953
NET POSITION - END OF YEAR $ 79,578,281 $ 84,767,605
Page 157
Page 158
Balances Balances
December 31, December 31,
2017 Additions Deductions 2018
Total - All Agency Funds
Assets
Cash and Cash Equivalents 2,031,722$ 6,701,051$ 6,132,444$ 2,600,329$
Investments 743,208 243,800 496,449 490,559
Receivables - Property Taxes 293,222 337,469 293,222 337,469
Receivables - Interest 2,254 5,381 -7,635
Total Assets 3,070,406$7,287,701$6,922,115$3,435,992$
Liabilities
Accounts Payable 1,603,448$ 4,522,780$ 4,907,247$ 1,218,981$
Refundable Deposits 999,985 1,109,831 406,589 1,703,227
Due to Primary Government - 345,140 - 345,140
Due to Bond Holders 466,973 1,946,297 2,244,626 168,644
Total Liabilities 3,070,406$7,924,048$7,558,462$3,435,992$
Special Service Area (SSA) Bond Fund
Assets
Cash and Cash Equivalents 173,751$ 693,761$ 691,197$ 176,315$
Receivables - Property Taxes 293,222 337,469 293,222 337,469
Total Assets 466,973$1,031,230$984,419$513,784$
Liabilities
Due to Bond Holders 466,973$ 1,946,297$ 2,244,626$ 168,644$
Due to Primary Government -345,140 -345,140
Total Liabilities 466,973$2,291,437$2,244,626$513,784$
Escrow Deposit Fund
Assets
Cash and Cash Equivalents 457,945$ 1,558,146$ 805,458$ 1,210,633$
Investments 743,208 243,800 496,449 490,559
Receivables - Interest 2,254 5,381 -7,635
Total Assets 1,203,407$1,807,327$1,301,907$1,708,827$
Liabilities
Accounts Payable 203,422$ 73,636$ 271,458$ 5,600$
Refundable Deposits 999,985 1,109,831 406,589 1,703,227
Total Liabilities 1,203,407$1,183,467$678,047$1,708,827$
Joint ETSB Fund
Assets
Cash and Cash Equivalents 1,400,026$4,449,144$4,635,789$1,213,381$
Total Assets 1,400,026$4,449,144$4,635,789$1,213,381$
Liabilities
Accounts Payable 1,400,026$4,449,144$4,635,789$1,213,381$
Total Liabilities 1,400,026$4,449,144$4,635,789$1,213,381$
VILLAGE OF GLENVIEW
COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
AGENCY FUNDS
For the Year Ended December 31, 2018
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.
Page 159
Library General
Fund
Library Debt
Service
Nonmajor
Library Funds Total Library
ASSETS
Current Assets
Cash and Cash Equivalents 3,638,234$ 480,824$ 922,395$ 5,041,453$
Investments 1,490,600 - - 1,490,600
Receivables, Net of Allowances
Property Taxes 6,105,606 1,678,593 - 7,784,199
Interest 9,015 --9,015
Total Current Assets 11,243,455 2,159,417 922,395 14,325,267
Noncurrent Assets
Capital Assets Not Depreciated ----
Capital Assets Depreciation (Net)----
Total Noncurrent Assets ----
TOTAL ASSETS 11,243,455 2,159,417 922,395 14,325,267
DEFERRED OUTFLOWS OF RESOURCES
Deferred Charge on Refunding ----
Deferred Outflows Related to Pensions ----
Deferred Outflows Related to OPEB ----
TOTAL DEFERRED OUTFLOWS OF
RESOURCES ----
As of December 31, 2018
Combining Balance Sheet
VILLAGE OF GLENVIEW
COMBINING BALANCE SHEET AND STATEMENT OF NET POSITION
GLENVIEW LIBRARY - COMPONENT UNIT
Page 160
Adjustments
Total
Component Unit -
Glenview Library
-$ 5,041,453$
- 1,490,600
- 7,784,199
-9,015
-14,325,267
5,426,987 5,426,987
24,433,310 24,433,310
29,860,297 29,860,297
29,860,297 44,185,564
863,333 863,333
535,302 535,302
14,333 14,333
1,412,968 1,412,968
Statement of Net Position
Page 161
Library General
Fund
Library Debt
Service
Nonmajor
Library Funds Total Library
As of December 31, 2018
Combining Balance Sheet
VILLAGE OF GLENVIEW
COMBINING BALANCE SHEET AND STATEMENT OF NET POSITION
GLENVIEW LIBRARY - COMPONENT UNIT
LIABILITIES
Current Liabilities
Accounts Payable 365,885$-$ 523$ 366,408$
Accrued Payroll 186,975 - - 186,975
Accrued Interest ----
Current Portion of Bonds Payable ----
Current Portion of Compensated Absences ----
Total Current Liabilities 552,860 -523 553,383
Noncurrent Liabilities
Bonds Payable ----
Unamortized Bond Premiums ----
Net Pension Liability ----
Total OPEB Liability ----
Compensated Absences ----
Total Noncurrent Liabilities ----
TOTAL LIABILITIES 552,860 -523 553,383
DEFERRED INFLOWS OF RESOURCES
Property Taxes Levied for a Future Period 6,103,118 1,677,660 - 7,780,778
Deferred Inflows Related to Pensions ----
Deferred Inflows Related to OPEB ----
TOTAL DEFERRED INFLOWS OF
RESOURCES 6,103,118 1,677,660 -7,780,778
FUND BALANCES/NET POSITION
Net Investment in Capital Assets ----
Restricted - 481,757 921,872 1,403,629
Unassigned/Unrestricted 4,587,477 --4,587,477
TOTAL FUND BALANCES/NET POSITION 4,587,477 481,757 921,872 5,991,106
TOTAL LIABILITIES, DEFERRED INFLOWS
OF RESOURCES, AND FUND
BALANCES/NET POSITION 11,243,455$2,159,417$922,395$14,325,267$
Page 162
Adjustments
Total
Component Unit -
Glenview Library
Statement of Net Position
-$ 366,408$
- 186,975
56,871 56,871
1,083,500 1,083,500
51,068 51,068
1,191,439 1,744,822
14,243,100 14,243,100
2,119,028 2,119,028
488,849 488,849
203,228 203,228
204,271 204,271
17,258,476 17,258,476
18,449,915 19,003,298
- 7,780,778
1,847,914 1,847,914
5,373 5,373
1,853,287 9,634,065
13,278,002 13,278,002
- 1,403,629
(2,307,939)2,279,538
10,970,063 16,961,169
31,273,265$45,598,532$
Page 163
Library General
Fund
Library Debt
Service
Nonmajor
Library Funds Total Library
REVENUES
Property Taxes 6,300,738$ 1,985,208$-$ 8,285,946$
Charges for Services 64,521 - - 64,521
Fines and Forfeitures 67,245 - - 67,245
Intergovernmental 1,260,937 - - 1,260,937
Investment Income 98,160 20,830 13,370 132,360
Other Revenue 63,934 -69,946 133,880
Total Revenues 7,855,535 2,006,038 83,316 9,944,889
EXPENDITURES
Current
Culture and Rrecreation 6,967,081 - 46,435 7,013,516
Debt Service
Principal - 1,225,045 - 1,225,045
Interest and Other - 726,833 - 726,833
Capital Outlay 217,733 -39,853 257,586
Total Expenditures 7,184,814 1,951,878 86,288 9,222,980
Excess (Deficiency) of Revenues
over Expenditures 670,721 54,160 (2,972)721,909
OTHER FINANCING SOURCES (USES)
Transfers In - - 172,224 172,224
Transfers Out (172,224)--(172,224)
Total Other Financing Sources (Uses) (172,224)-172,224 -
Net Change in Fund Balances/Net Position 498,497 54,160 169,252 721,909
FUND BALANCES/NET POSITION -
Beginning of Year, as restated 4,088,980 427,597 752,620 5,269,197
FUND BALANCES/NET POSITION -
END OF YEAR 4,587,477$481,757$921,872$5,991,106$
For the Year Ended December 31, 2018
STATEMENT OF ACTIVITIES
Statement of Revenues, Expenditures,
and Changes in Fund Balances
VILLAGE OF GLENVIEW
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES AND
GLENVIEW LIBRARY - COMPONENT UNIT
Page 164
Adjustments
Total
Component Unit -
Glenview Library
-$ 8,285,946$
- 64,521
- 67,245
- 1,260,937
- 132,360
-133,880
-9,944,889
369,911 7,383,427
(1,225,045) -
(131,950) 594,883
555,310 812,896
(431,774)8,791,206
431,774 1,153,683
(172,224) -
172,224 -
--
431,774 1,153,683
10,538,289 15,807,486
10,970,063$16,961,169$
Statement of Activities
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, 2018
With Comparative Actual Amounts for the Year Ended December 31, 2017
2018
Budgeted Amounts
Original Final Actual
2017
Actual
REVENUES
PROPERTY TAXES
Current Year $ 6,300,607 $ 6,300,607 $ 6,382,597 $ 6,372,104
Prior Year (70,000)(70,000)(81,859)(93,720)
Total Property Taxes 6,230,607 6,230,607 6,300,738 6,278,384
CHARGES FOR SERVICES
Nonresident Fee 15,000 15,000 10,780 14,862
Personal Books 1,000 1,000 682 1,461
Copying Fees 14,000 14,000 20,103 12,810
Circular Collection Fees 100 100 271 192
Video Fees 20,000 20,000 18,264 20,532
Rental Fees 7,000 7,000 14,421 7,798
Total Charges for Services 57,100 57,100 64,521 57,655
FINES AND FORFEITURES
Library Fines 61,000 61,000 55,747 67,634
Lost and Paid 11,000 11,000 11,498 12,015
Total Fines and Forfeitures 72,000 72,000 67,245 79,649
INTERGOVERNMENTAL
Property Replacement Tax 43,263 43,263 48,222 59,013
Make-Whole Payment 1,117,700 1,117,700 1,117,756 1,106,414
Grant Revenue 33,000 33,000 94,959 -
Total Intergovernmental 1,193,963 1,193,963 1,260,937 1,165,427
INVESTMENT INCOME
Interest 32,000 32,000 98,160 46,652
OTHER REVENUE
Employee Dental Contribution 21,000 21,000 19,340 21,663
Miscellaneous 22,000 22,000 44,594 24,329
Total Other Revenue 43,000 43,000 63,934 45,992
Total Revenues 7,628,670 7,628,670 7,855,535 7,673,759
EXPENDITURES
CULTURE AND RECREATION
Library Adminstration
Personnel 1,240,723 1,240,723 1,182,539 1,160,376
Contractual Services 350,790 350,790 344,436 314,813
Commodities 10,200 10,200 8,380 8,862
Other Charges 47,500 47,500 16,609 24,041
Total Library Adminstration 1,649,213 1,649,213 1,551,964 1,508,092
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, 2018
With Comparative Actual Amounts for the Year Ended December 31, 2017
2018
Budgeted Amounts
Original Final Actual
2017
Actual
Expenditures (cont.)
Reader's Services
Personnel $ 847,781 $ 847,781 $ 842,187 $ 822,478
Contractual Services 83,400 83,400 76,727 70,162
Commodities 262,600 262,600 240,289 243,524
Other Charges 2,800 2,800 1,072 1,642
Total Reader's Services 1,196,581 1,196,581 1,160,275 1,137,806
Buildings and Grounds Maintenance
Personnel 217,934 217,934 222,698 212,563
Contractual Services 116,834 116,834 160,000 126,980
Commodities 70,050 70,050 73,489 63,932
Other Charges 250 250 210 330
Total Buildings and Grounds
Maintenance 405,068 405,068 456,397 403,805
Circulation
Personnel 892,426 892,426 892,172 847,845
Contractual Services 13,350 13,350 11,820 12,235
Commodities 20,000 20,000 19,112 9,489
Other Charges 3,750 3,750 2,064 1,747
Total Circulation 929,526 929,526 925,168 871,316
Public Information
Personnel 179,745 179,745 191,852 172,796
Contractual Services 53,439 53,439 47,921 47,177
Commodities 4,700 4,700 3,482 5,475
Other Charges 450 450 273 95
Total Public Information 238,334 238,334 243,528 225,543
Technical Services
Personnel 588,194 588,194 535,100 569,644
Contractual Services 8,857 8,857 5,975 6,944
Commodities 15,150 15,150 12,720 11,116
Other Charges 1,700 1,700 347 338
Total Technical Services 613,901 613,901 554,142 588,042
Youth Services
Personnel 629,599 629,599 606,017 595,186
Contractual Services 57,300 57,300 51,599 55,849
Commodities 127,900 127,900 129,794 122,426
Other Charges 5,075 5,075 3,463 2,269
Total Youth Services 819,874 819,874 790,873 775,730
Page 166
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, 2018
With Comparative Actual Amounts for the Year Ended December 31, 2017
2018
Budgeted Amounts
Original Final Actual
2017
Actual
Expenditures (cont.)
Reference
Personnel $ 608,919 $ 608,919 $ 581,032 $ 598,192
Contractual Services 204,800 204,800 174,438 190,131
Commodities 109,010 109,010 66,059 68,069
Other Charges 3,070 3,070 1,581 362
Total Reference 925,799 925,799 823,110 856,754
Information Technology
Personnel 290,098 290,098 271,600 262,159
Contractual Services 183,500 183,500 182,222 181,521
Commodities 6,550 6,550 5,596 7,912
Other Charges 2,300 2,300 2,206 2,174
Total Information Technology 482,448 482,448 461,624 453,766
Total Culture and
Recreation 7,260,744 7,260,744 6,967,081 6,820,854
CAPITAL OUTLAY
Furniture and Fixtures 32,300 32,300 7,071 335
Machinery and Equipment 4,278 4,278 2,256 8,523
Information System 226,485 226,485 208,406 204,166
Total Capital Outlay 263,063 263,063 217,733 213,024
Total Expenditures 7,523,807 7,523,807 7,184,814 7,033,878
Excess of revenues over
expenditures 104,863 104,863 670,721 639,881
OTHER FINANCING USES
Transfer (out)
Library Special Reserve Fund (172,224)(172,224)(172,224)(122,224)
Total Other Financing Uses (172,224)(172,224)(172,224)(122,224)
Net Change in Fund Balance $ (67,361)$ (67,361)498,497 517,657
FUND BALANCE - Beginning of Year 4,088,980 3,571,323
FUND BALANCE - END OF YEAR $ 4,587,477 $ 4,088,980
Page 167
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, 2018
With Comparative Actual Amounts for the Year Ended December 31, 2017
2018
Budgeted Amounts
Original Final Actual
2017
Actual
REVENUES
Property $ 1,947,927 $ 1,947,927 $ 1,985,208 $ 1,993,109
Investment Income 13,500 13,500 20,830 11,697
Total Revenues 1,961,427 1,961,427 2,006,038 2,004,806
EXPENDITURES
Debt service
Principal 1,225,045 1,225,045 1,225,045 1,190,000
Interest 726,834 726,834 726,833 833,047
Total Expenditures 1,951,879 1,951,879 1,951,878 2,023,047
Excess (deficiency) of revenues over
(under) expenditures 9,548 9,548 54,160 (18,241)
Net Change in Fund Balance $ 9,548 $ 9,548 54,160 (18,241)
FUND BALANCE - Beginning of Year 427,597 445,838
FUND BALANCE - END OF YEAR $ 481,757 $ 427,597
Page 168
Page 169
Friends of the
Library Gift
Total Special
Revenue
Assets
Cash and Cash Equivalents 131,191$ 105,494$ 236,685$
Total Assets 131,191$ 105,494$ 236,685$
Liabilities and Fund Balances
Liabilities
Accounts Payable 110$ -$ 110$
Total Liabilities 110 - 110
Fund Balance
Restricted 131,081 105,494 236,575
Total Fund Balances 131,081 105,494 236,575
Total Liabilities and Fund Balances 131,191$ 105,494$ 236,685$
As of December 31, 2018
Special Revenue Funds
VILLAGE OF GLENVIEW
COMBINING BALANCE SHEET
GLENVIEW LIBRARY - COMPONENT UNIT - LIBRARY NONMAJOR FUNDS
Page 170
Library Capital
Contribution
Library Special
Reserve
Total Capital
Project
Total Nonmajor
Library
86,716$ 598,994$ 685,710$ 922,395$
86,716$ 598,994$ 685,710$ 922,395$
413$ -$ 413$ 523$
413 - 413 523
86,303 598,994 685,297 921,872
86,303 598,994 685,297 921,872
86,716$ 598,994$ 685,710$ 922,395$
Capital Projects Funds
Page 171
Friends of the
Library Gift
Total Special
Revenue
Revenues
Other Revenue
Donations 40,000$ 500$ 40,500$
Miscellaneous - - -
Investment Income 1,573 1,707 3,280
Total Revenues 41,573 2,207 43,780
Expenditures
Culture and Recreation
Miscellaneous 37,831 - 37,831
Capital Outlay - - -
Total Expenditures 37,831 - 37,831
Excess (Deficiency) of Revenues over (under) Expenditures 3,742 2,207 5,949
Other Financing Sources
Transfers In - - -
Total Other Financing Sources - - -
Net Change in Fund Balances 3,742 2,207 5,949
FUND BALANCE - Beginning of Year 127,339 103,287 230,626
FUND BALANCE - END OF YEAR 131,081$ 105,494$ 236,575$
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, 2018
Page 172
Library Capital
Contribution
Library Special
Reserve
Total Capital
Project
Total Nonmajor
Library
28,652$ -$ 28,652$ 69,152$
- 794 794 794
1,351 8,739 10,090 13,370
30,003 9,533 39,536 83,316
8,604 - 8,604 46,435
- 39,853 39,853 39,853
8,604 39,853 48,457 86,288
21,399 (30,320) (8,921) (2,972)
- 172,224 172,224 172,224
- 172,224 172,224 172,224
21,399 141,904 163,303 169,252
64,904 457,090 521,994 752,620
86,303$ 598,994$ 685,297$ 921,872$
Capital Projects Funds
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, 2018
With Comparative Actual Amounts for the Year Ended December 31, 2017
2018
Budgeted Amounts
Original Final Actual
2017
Actual
REVENUES
Investment Income $ 5,600 $ 5,600 $ 8,739 $ 5,370
Miscellaneous --794 -
Total Revenues 5,600 5,600 9,533 5,370
EXPENDITURES
Culture and Recreation
Contractual Services - - - 6,430
Other Charges 76,716 76,716 --
Total culture and recreation 76,716 76,716 -6,430
Capital Outlay
Capital Outlay --39,853 220,336
Total Expenditures 76,716 76,716 39,853 226,766
Excess (deficiency) of revenues over
(under) expenditures (71,116)(71,116)(30,320)(221,396)
OTHER FINANCING SOURCES
Transfers In
Library General Fund 172,224 172,224 172,224 122,224
Total Other Financing Sources 172,224 172,224 172,224 122,224
Net Change in Fund Balance $ 101,108 $ 101,108 141,904 (99,172)
FUND BALANCE - Beginning of Year 457,090 556,262
FUND BALANCE - END OF YEAR $ 598,994 $ 457,090
Page 173
Page 174
VILLAGE OF GLENVIEW
LONG-TERM DEBT REQUIREMENTS
ILLINOIS ENVIRONMENT PROTECTION AGENCY LOAN
December 31, 2018
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
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 158,414$146,220$304,634$
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, 2018
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
2019 5,850,000$ 604,800$ 6,454,800$ 2019 302,400$ 2019 302,400$
2020 6,030,000 429,300 6,459,300 2020 214,650 2020 214,650
2021 6,210,000 248,400 6,458,400 2021 124,200 2021 124,200
Total 18,090,000$1,282,500$19,372,500$641,250$641,250$
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, 2018
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
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 9,470,000$1,269,000$10,739,000$634,500$634,500$
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 BOND SERIES 2013A
December 31, 2018
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
2019 260,000$ 170,283$ 430,283$ 2019 85,141$ 2019 85,141$
2020 265,000 165,083 430,083 2020 82,541 2020 82,541
2021 270,000 157,132 427,132 2021 78,566 2021 78,566
2022 280,000 149,032 429,032 2022 74,516 2022 74,516
2023 285,000 140,632 425,632 2023 70,316 2023 70,316
2024 295,000 132,082 427,082 2024 66,041 2024 66,041
2025 305,000 123,232 428,232 2025 61,616 2025 61,616
2026 315,000 113,626 428,626 2026 56,813 2026 56,813
2027 325,000 102,600 427,600 2027 51,300 2027 51,300
2028 340,000 89,600 429,600 2028 44,800 2028 44,800
2029 350,000 76,000 426,000 2029 38,000 2029 38,000
2030 365,000 62,000 427,000 2030 31,000 2030 31,000
2031 380,000 47,400 427,400 2031 23,700 2031 23,700
2032 395,000 32,200 427,200 2032 16,100 2032 16,100
2033 410,000 16,400 426,400 2033 8,200 2033 8,200
Total 4,840,000$1,577,302$6,417,302$788,650$788,650$
Note: Principal and interest will be paid by the Debt Service Fund via a transfer from the Corporate Fund.
Requirements Interest Due on
Page 178
VILLAGE OF GLENVIEW
LONG-TERM DEBT REQUIREMENTS
GENERAL OBLIGATION BOND SERIES 2013B
December 31, 2018
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
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 3,205,000$310,098$3,515,098$155,049$155,049$
Note: Principal and interest will be paid by the Waukegan/Golf TIF Fund.
Requirements Interest Due on
Page 179
VILLAGE OF GLENVIEW
LONG-TERM DEBT REQUIREMENTS
5 YEAR LOAN
December 31, 2018
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
2019 1,305,935$24,495$1,330,430$2019 12,214$2019 12,281$
Total 1,305,935$24,495$1,330,430$12,214$12,281$
Note: Principal and interest will be paid by the Special Tax Allocation Fund.
Requirements Interest Due on
Page 180
VILLAGE OF GLENVIEW
LONG-TERM DEBT REQUIREMENTS
GENERAL OBLIGATION REFUNDING BOND SERIES 2016A
December 31, 2018
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
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$4,103,508$19,430,108$2,051,754$2,051,754$
Note: Principal and interest is payable from proceeds of the library property tax levy.
Requirements Interest Due on
Page 181
VILLAGE OF GLENVIEW
LONG-TERM DEBT REQUIREMENTS
ADVANCE METERING INFRASTRUCTURE LOAN
December 31, 2018
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
2019 656,340$ 121,581$ 777,921$ 2019 60,624$ 2019 60,957$
2020 843,866 108,455 952,321 2020 54,079 2020 54,376
2021 1,031,392 91,577 1,122,969 2021 45,663 2021 45,914
2022 1,125,155 70,949 1,196,104 2022 35,377 2022 35,572
2023 890,748 48,445 939,193 2023 24,156 2023 24,289
2024 1,012,639 30,630 1,043,269 2024 15,273 2024 15,357
2025 518,899 10,378 529,277 2025 5,175 2025 5,203
Total 6,079,039$482,015$6,561,054$240,347$241,668$
Note: Principal and interest will be paid by the Water Fund and Sewer Fund.
Requirements Interest Due on
Page 182
Special
Revenue Fund
Capital Projects
Fund
Special Tax
Allocation Fund
Glen Capital
Projects Fund
Total GNAS
Redevelopment
Area
ASSETSCash and Cash Equivalents 4,440,326$387,715$4,828,041$
Investments 25,218,003 - 25,218,003
Receivables, net of allowances
Accounts 49,368 - 49,368
Accrued Interest 280,671 - 280,671
Notes Receivable 2,293,667 -2,293,667
TOTAL ASSETS 32,282,035$387,715$32,669,750$
LIABILITIES AND FUND BALANCES
Liabilities
Accounts Payable 19,341,516$ 215,524$ 19,557,040$
Accrued Payroll 10,894 - 10,894
Other Payables 379 77,872 78,251
Advances from Other Funds 15,699,696 -15,699,696
Total Liabilities 35,052,485 293,396 35,345,881
Fund Balances (Deficit)
Nonspendable for Prepaid Items - - -
Assigned to Capital Project Funds - 94,319 94,319
Unassigned (2,770,450)-(2,770,450)
Total Fund Balances (Deficit) (2,770,450)94,319 (2,676,131)
TOTAL LIABILITIES AND FUND BALANCES 32,282,035$387,715$32,669,750$
VILLAGE OF GLENVIEW
COMBINING BALANCE SHEET
GLENVIEW NAVAL AIR STATION (GNAS) REDEVELOPMENT AREA FUNDS
As of December 31, 2018
Page 183
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, 2018
Special
Revenue Fund
Capital Projects
Fund
Special Tax
Allocation Fund
Glen Capital
Projects Fund
Total GNAS
Redevelopment
Area
REVENUES
Property Taxes 34,341,818$-$ 34,341,818$
Charges for Services 507,816 - 507,816
Intergovernmental 160,973 437 161,410
Investment Income 640,015 10,231 650,246
Miscellaneous 34,843 3,248 38,091
Total Revenues 35,685,465 13,916 35,699,381
EXPENDITURES
Current
General Government 23,268,744 - 23,268,744
Capital Outlay - 2,178,047 2,178,047
Debt service
Principal 6,965,938 - 6,965,938
Interest and Fiscal Charges 1,071,320 -1,071,320
Total Expenditures 31,306,002 2,178,047 33,484,049
Excess (deficiency) of revenues
over (under) expenditures 4,379,463 (2,164,131)2,215,332
OTHER FINANCING SOURCES (USES)
Transfers In - 1,123,212 1,123,212
Transfers Out (1,420,533)-(1,420,533)
Total Other Financing Sources (Uses) (1,420,533)1,123,212 (297,321)
Net Change in Fund Balances 2,958,930 (1,040,919) 1,918,011
FUND BALANCES (DEFICIT) - Beginning of Year (5,729,380)1,135,238 (4,594,142)
FUND BALANCES (DEFICIT) - END OF YEAR (2,770,450)$94,319$(2,676,131)$
Statistical Section
Contents Page
Financial Trends 184 -193
Revenue Capacity 194 - 201
Debt Capacity 202 - 205
Demographic and Economic Information 206 - 209
Operating Information 210 - 213
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.
Page 184
VILLAGE OF GLENVIEW
NET POSITION
Last Ten Fical Years
2009 2010 2011 2012
GOVERNMENTAL ACTIVITIES
Net investment in capital assets 87,607,488$ 93,936,562$ 102,217,913$ 109,488,722$
Restricted 39,881,012 29,923,363 23,711,651 45,978,154
Unrestricted 69,018,535 66,754,133 68,927,169 42,720,345
TOTAL GOVERNMENTAL ACTIVITIES 196,507,035$190,614,058$194,856,733$198,187,221$
BUSINESS-TYPE ACTIVITIES
Net investment in capital assets 45,206,019$ 51,450,402$ 55,566,298$ 56,331,598$
Unrestricted 7,860,336 2,104,898 5,373,918 7,475,383
TOTAL BUSINESS-TYPE ACTIVITIES 53,066,355$53,555,300$60,940,216$63,806,981$
PRIMARY GOVERNMENT
Net investment in capital assets 132,813,507$ 145,386,964$ 157,784,211$ 165,820,320$
Restricted 39,881,012 29,923,363 23,711,651 45,978,154
Unrestricted 76,878,871 68,859,031 74,301,087 50,195,728
TOTAL PRIMARY GOVERNMENT 249,573,390$244,169,358$255,796,949$261,994,202$
Data Source
The Village of Glenview's Comprehensive Annual Financial Report.
Fiscal Year
Page 185
2013 2014 2015 2016 2017 2018
139,233,309$ 149,950,065$ 190,234,952$ 190,133,236$ 200,207,529$ 202,699,589$
11,484,242 2,407,413 2,194,487 2,906,999 3,657,835 4,413,818
50,861,602 (11,873,206)(11,596,195)(10,645,007)(10,627,289)(9,283,111)
201,579,153$140,484,272$180,833,244$182,395,228$193,238,075$197,830,296$
58,075,392$ 60,891,686$ 55,002,443$ 53,413,336$ 53,974,120$ 55,163,508$
10,891,341 8,714,501 6,214,430 5,983,945 7,728,756 8,220,729
68,966,733$69,606,187$61,216,873$59,397,281$61,702,876$63,384,237$
197,308,701$ 210,841,751$ 245,237,395$ 243,546,572$ 254,181,649$ 257,863,097$
11,484,242 2,407,413 2,194,487 2,906,999 3,657,835 4,413,818
61,752,943 (3,158,705)(5,381,765)(4,661,062)(2,898,533)(1,062,382)
270,545,886$210,090,459$242,050,117$241,792,509$254,940,951$261,214,533$
Page 186
VILLAGE OF GLENVIEW
CHANGES IN NET POSITION
Last Ten Fiscal Years
2009 2010 2011 2012
EXPENSES
Governmental Activities
General government 29,780,621$ 32,335,971$ 33,989,230$ 40,172,192$
Public safety 26,456,771 30,475,113 25,769,097 27,145,548
Public works 12,741,129 13,981,277 8,581,360 6,670,428
Development 8,467,340 12,198,120 10,029,890 6,421,304
Interest on long-term debt 6,001,886 4,085,152 3,353,913 2,984,565
Total Governmental Activities Expenses 83,447,747 93,075,633 81,723,490 83,394,037
Business-Type Activities
Water services 7,733,048 9,265,407 8,795,466 10,339,739
North Maine water and sewer services 5,782,216 6,267,880 6,197,752 7,399,749
Sanitary sewer services 1,238,383 1,948,357 1,801,454 1,729,509
Wholesale water 1,074,812 1,083,206 1,119,994 1,157,835
Commuter parking 476,940 383,196 386,244 449,674
Total Business-type Activities Expenses 16,305,399 18,948,046 18,300,910 21,076,506
TOTAL PRIMARY GOVERNMENT EXPENSES 99,753,146$112,023,679$100,024,400$104,470,543$
PROGRAM REVENUES
Governmental Activities
Charges for Services
General government 2,324,730$ 3,931,687$ 3,854,148$ 3,564,720$
Public safety 5,274,319 5,345,151 5,195,936 4,967,056
Public works - - - 945,812
Development 3,218,677 3,993,971 2,015,239 850,749
Operating grants and contributions 1,172,899 1,662,479 1,832,805 1,960,093
Capital grants and contributions 1,267,384 2,362,508 2,439,618 746,987
Total Governmental Activities Program Revenues 13,258,009 17,295,796 15,337,746 13,035,417
Business-Type Activities
Charges for Services
Water services 8,370,780 9,045,480 9,751,605 11,351,729
North Maine water and sewer services 7,206,186 7,473,673 8,120,035 8,229,828
Sanitary sewer services 1,831,857 2,114,548 2,314,028 2,523,022
Wholesale water 1,782,495 1,997,367 2,156,636 2,063,759
Commuter parking 529,886 524,244 525,991 526,212
Operating grants and contributions --27,854 -
Total Business-Type Activities Program Revenues 19,721,204 21,155,312 22,896,149 24,694,550
32,979,213$38,451,108$38,233,895$37,729,967$
NET REVENUE (EXPENSE)
Governmental Activities (70,189,738)$ (75,779,837)$ (66,385,744)$ (70,358,620)$
Business-Type Activities 3,415,805 2,207,266 4,595,239 3,618,044
TOTAL PRIMARY GOVERNMENT
NET REVENUE (EXPENSE)(66,773,933)$(73,572,571)$(61,790,505)$(66,740,576)$
Fiscal Year
TOTAL PRIMARY GOVERNMENT PROGRAM
REVENUES
Page 187
2013 2014 2015 2016 2017 2018
38,505,592$ 36,586,774$ 34,403,572$ 44,385,296$ 42,184,653$ 42,033,645$
27,152,669 23,105,414 20,638,161 34,694,711 34,322,701 36,999,265
7,743,333 22,535,067 26,550,936 12,872,643 18,850,845 15,879,425
14,486,953 11,829,052 5,107,156 8,956,426 4,654,804 6,801,693
2,547,042 2,231,704 2,087,567 1,853,307 2,027,661 1,581,379
90,435,589 96,288,011 88,787,392 102,762,383 102,040,664 103,295,407
9,880,585 10,634,065 15,164,208 16,376,087 13,118,448 12,902,647
7,399,181 7,547,458 14,915,126 19,318 - -
1,789,883 2,051,642 2,034,331 2,326,072 2,292,993 2,152,793
1,129,077 1,064,737 1,172,689 1,276,248 1,393,330 1,404,958
364,679 409,584 487,345 428,679 489,432 678,344
20,563,405 21,707,486 33,773,699 20,426,404 17,294,203 17,138,742
110,998,994$117,995,497$122,561,091$123,188,787$119,334,867$120,434,149$
7,242,189$ 7,090,956$ 6,776,652$ 4,015,275$ 4,610,434$ 4,838,551$
5,339,032 7,789,777 8,017,412 8,036,363 11,164,334 10,013,251
945,521 945,106 1,011,433 962,941 1,018,286 1,012,457
469,771 817,593 137,783 261,785 459,205 883,365
1,875,489 2,079,987 1,740,265 1,857,331 2,428,438 2,412,378
203,909 5,162,690 18,639,549 299,776 472,494 319,461
16,075,911 23,886,109 36,323,094 15,433,471 20,153,191 19,479,463
11,213,172 11,431,761 12,738,153 14,276,095 14,624,348 14,834,822
8,611,294 8,068,712 2,549,981 - - -
2,355,451 2,263,025 2,523,041 2,569,752 2,496,477 2,438,304
2,190,544 1,891,731 1,996,831 2,075,114 2,361,124 2,087,966
570,670 615,754 619,764 640,382 655,069 696,594
------
24,941,131 24,270,983 20,427,770 19,561,343 20,137,018 20,057,686
41,017,042$48,157,092$56,750,864$34,994,814$40,290,209$39,537,149$
(74,359,678)$ (72,401,902)$ (52,464,298)$ (87,328,912)$ (81,887,473)$ (83,815,944)$
4,377,726 2,563,497 (13,345,929)(865,061)2,842,815 2,918,944
(69,981,952)$(69,838,405)$(65,810,227)$(88,193,973)$(79,044,658)$(80,897,000)$
Page 188
2009 2010 2011 2012
GENERAL REVENUES AND OTHER
CHANGES IN NET POSITION
Governmental Activities
Taxes
Property taxes 33,863,907$ 34,759,914$ 40,146,639$ 37,275,705$
Other taxes 12,659,075 12,962,485 13,257,071 13,495,498
Sales taxes 11,943,633 12,336,353 12,792,723 13,091,218
Income taxes 3,612,282 3,497,759 3,823,315 3,962,313
Intergovernmental 2,519,306 2,772,575 2,502,500 2,614,374
Investment income 975,360 731,839 397,478 860,108
Miscellaneous 611,793 470,187 464,084 1,562,876
Gain on sale of capital assets - - - -
Transfers 4,399,659 1,777,004 (2,755,391)827,016
Total Governmental Activities 70,585,015 69,308,116 70,628,419 73,689,108
Business-Type Activities
Investment income 60,349 24,419 26,807 33,790
Miscellaneous 28,928 (18,808) 7,479 41,947
Gain on sale of capital assets - - - -
Gain on legal settlement - - - -
Transfers (4,399,659)(1,723,932)2,755,391 (827,016)
Total Business-Type Activities (4,310,382)(1,718,321)2,789,677 (751,279)
TOTAL PRIMARY GOVERNMENT 66,274,633$67,589,795$73,418,096$72,937,829$
CHANGE IN NET POSITION
Governmental Activities 395,277$ (6,471,721)$ 4,242,675$ 3,330,488$
Business-Type Activities (894,577)488,945 7,384,916 2,866,765
TOTAL PRIMARY GOVERNMENT
CHANGE IN NET POSITION (499,300)$(5,982,776)$11,627,591$6,197,253$
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 189
2013 2014 2015 2016 2017 2018
37,383,036$ 40,785,102$ 41,564,097$ 44,672,858$ 46,558,256$ 48,082,053$
13,944,053 14,406,764 14,460,977 14,367,678 14,885,856 15,699,176
13,833,697 14,972,367 15,635,705 16,189,240 17,223,884 18,072,001
4,309,714 4,232,425 4,832,506 4,293,596 4,075,812 4,508,718
2,739,777 2,839,239 2,950,181 3,174,289 3,380,756 3,531,640
785,925 1,407,626 667,765 1,145,352 1,291,016 2,106,936
4,104,857 1,703,769 1,701,143 4,075,921 1,953,561 1,737,297
----2,558,900 52,458
822,322 1,313,328 11,000,896 971,962 802,279 1,082,804
77,923,381 81,660,620 92,813,270 88,890,896 92,730,320 94,873,083
27,046 (153,614) 15,093 9,637 - -
6,290 21,553 15,942,418 7,794 18,249 101,483
----246,810 2,523
1,571,012 - - - - -
(822,322)(1,313,328)(11,000,896)(971,962)(802,279)(1,082,804)
782,026 (1,445,389)4,956,615 (954,531)(537,220)(978,798)
78,705,407$80,215,231$97,769,885$87,936,365$92,193,100$93,894,285$
3,563,703$ 9,258,718$ 40,348,972$ 1,561,984$ 10,842,847$ 11,057,139$
5,159,752 1,118,108 (8,389,314)(1,819,592)2,305,595 1,940,146
8,723,455$10,376,826$31,959,658$(257,608)$13,148,442$12,997,285$
Page 190
VILLAGE OF GLENVIEW
FUND BALANCES OF GOVERNMENTAL FUNDS
Last Ten Fiscal Years
Fiscal Year 2009 2010 2011 2012
GENERAL FUND
Reserved 82,583$ 82,593$-$-$
Unreserved 20,044,782 21,994,901 - -
Nonspendable - - 131,424 195,280
Committed - - - -
Assigned - - - -
Unassigned --24,086,602 25,564,806
TOTAL GENERAL FUND 20,127,365$22,077,494$24,218,026$25,760,086$
ALL OTHER GOVERNMENTAL FUNDS
Reserved 59,293,215$ 49,720,438$-$-$
Unreserved, reported in
Special revenue funds 1,832,064 (921,028) - -
Capital project funds 10,053,987 10,057,896 - -
Debt service funds 15,676 30,942 - -
Nonspendable - - - 64,508
Restricted - - 52,257,800 45,978,154
Assigned - - - -
Unassigned ----
TOTAL ALL OTHER
GOVERNMENTAL FUNDS 71,194,942$58,888,248$52,257,800$46,042,662$
TOTAL GOVERNMENTAL FUNDS 91,322,307$80,965,742$76,475,826$71,802,748$
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 191
2013 2014 2015 2016 2017 2018
-$-$-$-$-$-$
------
87,738 176,110 499,800 155,205 128,795 123,985
1,700,000 850,000 ----
3,208,020 5,364,276 - - 3,100,000 9,100,000
26,823,063 24,306,476 25,739,072 25,335,141 26,530,097 26,626,131
31,818,821$30,696,862$26,238,872$25,490,346$29,758,892$35,850,116$
-$-$-$-$-$-$
------
------
------
53,289 42,070 30,851 19,633 8,414 -
11,484,242 2,407,413 2,194,487 2,906,999 3,657,835 4,413,818
42,275,455 31,933,727 34,155,883 31,341,543 30,339,651 30,511,221
-(13,171,320)(11,572,271)(8,935,926)(6,619,132)(2,770,450)
53,812,986$21,211,890$24,808,950$25,332,249$27,386,768$32,154,589$
85,631,807$51,908,752$51,047,822$50,822,595$57,145,660$68,004,705$
Page 192
VILLAGE OF GLENVIEW
CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS
Last Ten Fiscal Years
2009 2010 2011 2012
REVENUES
Taxes 46,522,982$ 47,721,989$ 53,403,710$ 50,771,203$
Intergovernmental 23,236,550 25,493,952 26,342,403 24,796,132
Charges for services 5,787,188 6,892,913 6,111,175 6,519,625
Licenses and permits 2,441,730 3,190,826 1,859,161 1,923,238
Fines and forfeitures 189,433 134,783 181,361 224,198
Investment income 975,370 731,839 397,478 422,751
Miscellaneous
Land sales - - - -
Other 46,804 219,046 205,014 709,998
Total revenues 79,200,057 84,385,348 88,500,302 85,367,145
EXPENDITURES
General government 27,133,683 29,090,926 31,153,019 38,411,652
Public safety 25,745,800 27,884,435 25,710,435 26,369,673
Public works 7,918,533 7,811,605 7,883,609 7,036,995
Development 6,058,864 5,723,642 4,293,220 1,261,328
Debt service
Principal 9,660,000 9,740,000 10,051,617 8,208,235
Interest and fiscal charges 5,304,081 4,246,896 3,762,159 3,279,464
Bond issuance costs 37,153 - 38,818 139,044
Capital outlay 8,858,147 12,030,923 8,336,649 6,060,977
Total expenditures 90,716,261 96,528,427 91,229,526 90,767,368
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES (11,516,204)(12,143,079)(2,729,224)(5,400,223)
OTHER FINANCING SOURCES (USES)
Transfers in 19,116,695 15,678,978 31,368,232 6,281,471
Transfers out (15,420,632) (13,901,974) (33,163,914) (5,702,833)
Bonds Issued 39,838,247 - 11,035,000 40,395,000
Premium on bonds issued - - - -
Discount on bonds issued - - - 4,432,391
Payment to escrow agent (39,652,343) - (11,000,000) (44,678,884)
Proceeds from capital lease - - - -
Sale of capital assets -9,500 --
Total Other Financing Sources (Uses) 3,881,967 1,786,504 (1,760,682)727,145
NET CHANGE IN FUND BALANCES (7,634,237)$(10,356,575)$(4,489,906)$(4,673,078)$
DEBT SERVICE AS A PERCENTAGE OF
NONCAPITAL EXPENDITURES 18.33% 16.55% 15.71% 13.28%
Data Source
The Village of Glenview's Comprehensive Annual Financial Report.
Fiscal Year
Page 193
2013 2014 2015 2016 2017 2018
51,327,089$ 55,191,866$ 56,025,074$ 59,040,536$ 61,444,112$ 63,781,229$
25,747,882 28,843,610 47,874,058 29,203,967 31,357,689 31,224,129
8,082,885 9,789,188 11,784,003 10,235,729 12,664,145 12,746,771
4,461,768 5,103,571 3,208,298 2,088,538 2,451,693 2,810,054
228,419 255,899 164,673 209,062 211,592 130,281
341,472 399,971 306,361 544,236 996,459 1,870,798
------
486,493 796,354 120,603 2,503,274 261,396 434,154
90,676,008 100,380,459 119,483,070 103,825,342 109,387,086 112,997,416
35,582,816 36,391,244 38,168,909 39,187,095 40,680,381 41,209,378
26,687,294 27,212,096 28,421,350 29,601,085 29,578,436 29,857,646
7,489,675 9,523,902 9,260,772 10,229,806 8,755,999 8,233,133
1,016,437 4,078,982 3,947,132 3,992,133 3,704,509 4,012,804
30,983,776 32,364,371 17,975,309 8,230,309 9,000,309 9,200,309
2,761,174 2,388,883 2,263,186 1,923,782 1,827,110 1,772,060
61,176 - 20,250 - - -
8,253,623 34,631,202 43,130,127 12,108,321 13,184,473 9,026,237
112,835,971 146,590,680 143,187,035 105,272,531 106,731,217 103,311,567
(22,159,963)(46,210,221)(23,703,965)(1,447,189)2,655,869 9,685,849
13,052,864 16,557,993 33,455,261 9,514,205 11,740,499 10,707,249
(11,837,724) (12,684,506) (21,593,677) (8,292,243) (10,534,303) (9,534,053)
38,575,000 6,529,688 10,000,000 - - -
(11,539) - - - - -
69,535 - - - - -
----- -
- - 981,451 - - -
(3,859,114)2,083,991 --2,461,000 -
35,989,022 12,487,166 22,843,035 1,221,962 3,667,196 1,173,196
13,829,059$(33,723,055)$(860,930)$(225,227)$6,323,065$10,859,045$
31.21% 28.34% 18.65% 10.31% 11.16% 10.93%
Page 194
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
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 -
2017 1,920,341,987 487,300,652 110,847,872 643,867 -
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 195
Total Estimated Estimated
Total Taxable Direct Actual Actual
Assessed Tax Taxable Taxable
Value Rate Value Value
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%
2,519,134,378 4.95 7,557,403,134 33.333%
Page 196
VILLAGE OF GLENVIEW
DIRECT AND OVERLAPPING PROPERTY TAX RATES
Last Ten Levy Years
2008 2009 2010 2011 2012
Village of Glenview
Corporate 0.174$ 0.148$ 0.162$0.177$0.188$
Bonds and interest 0.068 0.068 0.076 0.084 0.083
Police pension 0.040 0.060 0.065 0.074 0.073
Fire pension 0.068 0.085 0.105 0.120 0.139
Total direct tax rate 0.350 0.361 0.408 0.455 0.482
Glenview Public Library 0.195 0.210 0.253 0.303 0.347
Glenview Special Service Area #9 0.200 0.093 - - -
Glenview Special Service Area #10 0.209 0.100 - - -
Glenview Special Service Area #11 0.175 - - - -
Glenview Special Service Area #12 0.159 - - - -
Glenview Special Service Area #17 0.192 0.177 0.210 0.115 -
Glenview Special Service Area #18 0.242 0.221 0.280 0.148 -
Glenview Special Service Area #20 0.160 0.155 0.165 - -
Glenview Special Service Area #22 0.129 0.117 0.142 - -
Glenview Special Service Area #32 0.068 0.073 0.074 0.082 0.087
Glenview Special Service Area #33 0.308 0.287 0.333 0.370 0.391
Glenview Special Service Area #35 0.207 0.204 0.223 0.233 0.248
Glenview Special Service Area #36 0.127 0.108 0.138 0.153 0.162
Glenview Special Service Area #37 0.118 0.102 0.117 0.133 0.141
Glenview Special Service Area #38 - - 0.844 0.894 0.854
Glenview Special Service Area #40 - - - 0.079 0.085
Glenview Special Service Area #41 - - - 0.079 0.086
Glenview Special Service Area #42 - - 0.406 0.440 0.470
Glenview Special Service Area #43 - - - 0.122 0.130
Glenview Special Service Area #44 - - - 0.168 0.191
Glenview Special Service Area #45 - - - 0.444 0.446
Glenview Special Service Area #46 - - - 0.598 0.550
Glenview Special Service Area #47 - - 0.546 0.568 0.605
Glenview Special Service Area #49 - - - 0.241 0.261
Glenview Special Service Area #50 - - - 0.130 0.140
Glenview Special Service Area #51 - - - 0.279 0.297
Glenview Special Service Area #52 - - - 0.141 0.151
Glenview Special Service Area #53 - - - 1.035 1.206
Glenview Special Service Area #54 - - - 0.695 0.739
Glenview Special Service Area #55 - - 0.423 0.410 0.378
Glenview Special Service Area #56 - - 0.903 0.971 1.022
Glenview Special Service Area #57 - - 0.538 0.566 0.586
Glenview Special Service Area #61 - - - 0.188 0.201
Glenview Special Service Area #62 - 0.165 0.213 0.228 0.239
Glenview Special Service Area #63 - 0.183 0.232 0.245 0.257
Glenview Special Service Area #81 - - - - -
Glenview Special Service Area #90 - - - - -
Glenview Special Service Area #95 - - - - -
Tax Levy Year
Page 197
2013 2014 2015 2016 2017
0.203$ 0.176$ 0.162$ 0.156$ 0.156$
0.095 0.091 0.092 0.075 0.074
0.098 0.098 0.127 0.103 0.100
0.157 0.188 0.203 0.159 0.164
0.553 0.553 0.584 0.493 0.494
0.396 0.394 0.415 0.343 0.336
-----
-----
-----
-----
-----
-----
-----
-----
0.066 - - - -
0.422 - - - -
0.344 0.328 0.335 0.255 -
0.181 - - - -
0.159 - - - -
1.250 1.210 1.260 1.038 1.058
0.094 0.094 0.098 0.074 0.070
0.094 0.079 0.084 0.063 0.053
0.586 0.575 0.585 0.524 0.468
0.138 0.138 0.140 0.113 0.103
0.221 0.212 0.210 0.168 0.148
0.477 0.467 0.470 0.371 0.344
0.553 0.581 0.624 0.471 0.442
0.775 0.713 0.724 0.596 0.600
0.312 0.312 0.318 0.245 0.225
0.153 0.150 0.160 0.129 0.114
0.354 0.349 0.351 0.249 0.233
0.170 0.168 0.174 0.156 0.133
1.296 1.263 1.163 0.800 0.677
0.796 0.751 0.698 0.480 0.401
0.430 0.379 0.426 0.332 0.299
1.185 1.090 1.210 0.996 0.898
0.677 0.668 0.682 0.592 0.531
0.232 0.228 0.241 0.175 0.157
0.280 0.272 0.332 0.269 0.251
0.273 0.271 0.322 0.238 0.234
- - - 0.310 0.258
- - - 0.083 0.071
- - 0.917 0.848 0.513
(Continued)
Page 198
VILLAGE OF GLENVIEW
DIRECT AND OVERLAPPING PROPERTY TAX RATES
Last Ten Levy Years
2008 2009 2010 2011 2012
Avoca School District #37 1.755$ 1.698$ 2.022$2.281$2.557$
County Consolidated Elections - 0.021 - 0.025 -
County of Cook 0.415 0.394 0.423 0.462 0.531
East Maine School District #63 2.233 2.235 2.499 2.775 3.100
Forest Preserve District 0.051 0.049 0.051 0.058 0.063
Glenview Park District 0.429 0.422 0.483 0.538 0.579
Glenview School District #34 1.909 1.876 2.160 2.429 2.706
Golf School District #67 1.807 1.943 2.203 2.449 2.961
Maine High School #207 1.577 1.617 1.782 1.995 2.215
Maine Township - General 0.064 0.067 0.075 0.085 0.096
Maine Township - General Assistance 0.015 0.016 0.018 0.021 0.023
Maine Township - Road and Bridge 0.033 0.034 0.038 0.043 0.049
Metropolitan Water Reclamation Dist. 0.252 0.261 0.274 0.320 0.370
New Trier High School #203 1.290 1.237 1.474 1.674 1.864
New Trier Township - General 0.031 0.030 0.037 0.042 0.047
New Trier Township - General Assistance 0.003 0.003 0.004 0.005 0.006
Niles High School #219 2.120 2.267 2.538 2.904 3.256
Niles Township - General 0.027 0.029 0.032 0.037 0.042
Niles Township - General Assistance 0.003 0.003 0.004 0.005 0.006
North Shore Mosquito Abatement 0.008 0.008 0.009 0.010 0.010
Northbrook School District #30 2.089 2.089 2.327 2.641 2.999
Northfield High School #225 1.383 1.395 1.609 1.819 2.028
Northfield Township - General 0.009 0.010 0.013 0.020 0.024
Oakton Community College #535 0.140 0.140 0.160 0.196 0.219
West Northfield School District #31 1.402 1.494 1.730 2.018 2.525
Wilmette School District #39 1.812 1.716 2.314 2.620 2.922
Northfield Township - Road and Bridge 0.030 0.031 0.036 0.041 0.046
Northfield Township - General Assistance 0.009 0.010 0.011 0.008 0.009
Northfield Woods Sanitary District 0.049 0.054 0.067 0.079 0.082
North Maine Fire Protection District 0.986 1.112 1.254 1.366 1.452
Northbrook Park District 0.332 0.334 0.375 0.424 0.471
Oak Meadow Sanitary District 0.037 0.038 0.045 0.051 0.056
Northwest Mosquito Abatement 0.008 0.008 0.009 0.010 0.011
Data Source
Office of the County Clerk
* Property tax rates are per $100 of assessed valuation
Tax Levy Year
Page 199
2013 2014 2015 2016 2017
2.762$2.957$ 3.094$ 2.662$ 2.661$
0.031 - - - 0.031
0.560 0.568 0.552 0.533 0.496
3.864 3.811 4.040 3.492 3.556
0.069 0.069 0.069 0.063 0.062
0.662 0.661 0.684 0.563 0.567
3.129 3.173 3.291 2.719 2.745
3.497 3.427 3.552 2.957 2.962
2.722 2.739 2.901 2.507 2.529
0.120 0.119 0.124 0.108 0.105
0.029 0.029 0.031 0.027 0.021
0.061 0.062 0.065 0.056 0.057
0.417 0.430 0.426 0.406 0.402
2.111 2.268 2.380 1.974 1.993
0.054 0.055 0.058 0.049 0.050
0.007 0.007 0.008 0.007 0.007
3.707 3.650 3.891 3.460 3.409
0.049 0.050 0.052 0.046 0.047
0.007 0.007 0.008 0.007 0.007
0.007 0.011 0.012 0.010 0.010
3.381 3.272 3.394 2.866 3.193
2.341 2.367 2.493 2.106 2.102
0.031 0.032 0.028 0.024 0.023
0.256 0.258 0.271 0.231 0.232
2.946 2.911 3.107 2.699 2.700
3.229 3.356 3.502 2.840 2.880
0.053 0.054 0.057 0.049 0.049
0.008 0.007 0.007 0.006 0.006
0.098 0.099 0.098 0.088 0.065
1.814 1.815 1.906 1.664 1.711
0.536 0.537 0.569 0.423 0.419
0.066 0.067 0.069 0.059 0.063
0.013 0.013 0.011 0.010 0.010
Page 200
VILLAGE OF GLENVIEW
PRINCIPAL PROPERTY TAXPAYERS
Current Year and Nine Years Ago
2018 2009
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 36,698,607 $ 1 1.46% $
Astella US Holdings 22,164,258 2 0.88%
Northshore University 20,103,569 3 0.80%
The Glenview Center 18,693,783 4 0.74%
Abt Electronics 17,554,644 5 0.70% 21,125,583 7 0.70%
RJA Property Holdings 15,329,066 6 0.61%
Thomson Reuters Pts
(formerly Cole Real Estate)13,729,167 7 0.54%
CPUS Glen Pointe LP 13,585,970 8 0.54%
Signode , Division of ITW 12,923,436 9 0.51% 26,750,727 4 0.89%
Kimco Realty Corp. 12,789,466 10 0.51%
Kraft Foods 57,117,510 1 1.90%
Grubb & Ellis 33,202,821 2 1.11%
Oliver McMillan LLC 29,577,252 3 0.99%
Classic Residence - Hyatt 22,755,876 5 0.76%
Mid America Asset 21,617,688 6 0.72%
Anixter, Inc.19,876,257 8 0.66%
Clarion Realty Service 22,180,083 9 0.74%
GRE Prairie Glen LLC 14,560,905 10 0.49%
183,571,966 $ 7.29% 268,764,702 $8.96%
Note: Every effort has been made to seek out and report the largest taxpayers. However, many of the taxpayers
own multiple parcels, and it is possible that some parcels and their valuations have been overlooked.
Page 201
VILLAGE OF GLENVIEW
PROPERTY TAX LEVIES AND COLLECTIONS
Last Ten Tax Levy Years
Property Subsequent
Levy Fiscal Taxes Taxes Percentage Year Taxes Percentage
Year Year Levied Received of Levy Collections Received of Levy
2008 2009 15,858,539$ 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% 64,394 20,468,982 99.59%
2017 2018 20,898,255 20,721,748 99.16% - 20,721,748 99.16%
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 202
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*
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
2018 37,645,969 1,610,569 - - 6,079,040 45,335,578 1.62% 963
Source: The Village of Glenview's Comprehensive Annual Financial Report.
* Additional demographic information is available in the schedule of Demographic and Economic Statistics .
Page 203
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)
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 3.70% 1,566
2014 61,752,302 - 61,752,302 3.01% 1,382
2015 61,752,302 - 61,752,302 3.07% 1,360
2016 45,983,788 - 45,983,788 1.87% 1,013
2017 45,983,788 - 45,983,788 1.87% 988
2018 37,645,969 - 37,645,969 1.49% 800
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 204
VILLAGE OF GLENVIEW
DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT
As of December 31, 2018
Percentage Village of
Debt Applicable Glenview
to the Village of Share
Governmental unit Debt Glenview (1)of Debt
Direct Bonded Debt
Village of Glenview 37,645,969 $100.00%37,645,969 $
Overlapping Bonded Debt
Glenview Special Service Areas 2,122,485 100.00% 2,122,485
Glenview Park District 22,945,000 84.97% 19,496,367
Northbrook Park District -0.00% -
Cook County, including Forest Preserve District 3,091,151,750 1.67% 51,622,234
Metropolitan Water Reclamation District 2,505,011,528 1.70% 42,585,196
School Districts
Elementary School Districts
Avoca School District No. 37 9,280,000 8.59% 797,152
East Maine School District No. 63 54,270,000 4.57% 2,480,139
Glenview School District No. 34 13,130,000 89.47% 11,747,411
Golf School District No. 67 8,871,803 13.18% 1,169,304
Northbrook School District No. 30 33,605,000 31.56% 10,605,738
West Northfield School District No. 31 12,220,000 49.26% 6,019,572
Wilmette School District No. 39 13,935,000 4.69% 653,552
High School Districts
Maine Township District No. 207 13,455,000 1.06% 142,623
New Trier Township District No. 203 84,960,000 2.35% 1,996,560
Niles Township District No. 219 58,448,952 1.13% 660,473
Northfield Township District No. 225 72,951,131 42.14% 30,741,607
Community College District
Oakton Community College No. 535 32,130,000 11.04% 3,547,152
Total overlapping bonded debt 6,028,487,649 186,387,564
Total direct and overlapping bonded debt 6,066,133,618 $ 224,033,533 $
Source: Cook County Clerk as of 12/31/17
(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 2017
real property valuations.
Page 205
VILLAGE OF GLENVIEW
LEGAL DEBT MARGIN INFORMATION
As of December 31, 2018
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 206
VILLAGE OF GLENVIEW
DEMOGRAPHIC AND ECONOMIC STATISTICS
Last Ten Fiscal Years
Per
Personal Capita
Fiscal Income Personal Unemployment
Year Population (in Thousands)Income Rate
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%
2018 47,066 2,803,769 59,571 2.6%
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 207
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 1,573 3.34% 2 1,020 2.30%
Astellas 2 1,449 3.08%
Glenbrook Hospital 3 1,099 2.34% 3 853 1.92%
Anixter, Inc. 4 726 1.54% 4 700 1.58%
ITW/Signode 5 695 1.48% 7 540 1.22%
Glenview Comm. School Dist 34 6 695 1.48% 6 670 1.51%
Kraft Foods Technology Center 7 600 1.27% 1 1,800 4.05%
Glenbrook South High School 8 433 0.92% 9 372 0.84%
Glenview Terrace Nursing Home 9 418 0.89%
Signode 10 400 0.85%
Life Source 5 685 1.54%
Scott Foresman (Pearson) 8 530 1.19%
North American Corp of Illinois 10 345 0.78%
17.19% 16.93%
Source: Illinois Manufacturers Services Directory, Illinois Services Directory and Employer Contact
2018 2009
Page 208
VILLAGE OF GLENVIEW
FULL-TIME EQUIVALENT EMPLOYEES
Last Ten Fiscal Years
Function/Program 2009 2010 2011 2012
General Government
Management services (1) 10 10 11 15
Finance ----
Administrative services (1) 14 16 13 13
Planning and economic
development (2) 21 23 5 5
Planning - - - -
Code enforcement - - - -
Community development (3) - - - -
Capital projects (3) 13 11 25 25
Total general government 58 60 54 58
Public safety
Police
Officers 74 73 71 70
Civilians 18 17 16 12
Fire
Firefighters and officers 82 84 80 80
Civilians - 2 2 2
Joint dispatch 20 20 19 21
Total public safety 194 196 188 185
Public works
Administration 6466
Engineering - - --
Facilities maintenance (4) - - - -
Street maintenance 21 21 20 21
Water maintenance 28 29 21 18
Fleet maintenance 6534
Natural resources 1111
Total public works 62 60 51 50
Total full-time equivalent
employees 314 316 293 293
(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 209
2013 2014 2015 2016 2017 2018
15 15 9 9 10 10
----- -
12 13 16 16 14 17
5- - - - -
----- -
----- -
- 21201918 18
20 - - - - -
52 49 45 44 42 45
70 70 70 70 70 70
12 11 5 5 5 5
80 80 80 80 80 80
21111 1
27 40 40 42 48 49
191 202 196 198 204 205
66566 5
----- -
- 4444 3
21 21 21 21 20 20
19 19 16 16 16 15
44444 4
11111 1
50 55 51 52 51 48
293 306 292 294 297 298
Page 210
VILLAGE OF GLENVIEW
OPERATING INDICATORS BY FUNCTION/PROGRAM
Last Ten Fiscal Years
Function/Program 2009 2010 2011 2012
Public Safety
Police
Physical arrests 1,475 1,088 571 544
Parking violations 3,518 2,998 2,243 1,125
Traffic violations 3,024 2,301 2,446 2,511
Fire
Emergency responses
Emergency medical 4,588 4,653 4,948 4,832
Other responses 2,561 2,249 2,359 2,327
Fires extinguished - 52 28 63
Fires extinguished (structures) 11 21 26 27
Public works
Pothole repairs (hours) 5,910 4,444 3,453 4,267
Water
Metered water customers 15,769 15,781 15,786 15,894
Water main breaks 96 134 114 171
Water purchases
(in ten-thousands of gallons) 301,349 292,882 285,877 306,706
Average daily consumption 183 141 133 138
Building
Permits issued 2,376 2,535 2,552 1,471
Value of construction
(in thousands of dollars) 133,737 $ 110,191 $ 98,541 $ 39,693 $
Data Source
Various Village departments.
Page 211
2013 2014 2015 2016 2017 2018
570 506 551 557 544 476
2,272 1,922 2,388 1,813 2,509 1,840
2,646 2,352 2,198 3,491 3,214 3,365
4,495 4,860 4,925 5,220 5,668 5,505
2,835 2,821 2,898 3,032 2,968 3,164
47 39 41 42 67 98
26 32 45 38 41 47
4,390 5,182 5,519 4,115 3,918 3,671
15,889 16,050 16,053 16,139 16,243 16,272
146 102 59 134 91 142
289,550 273,095 272,568 288,410 280,038 281,164
129 120 111 107 103 113
1,918 3,503 3,433 2,042 2,457 3,389
164,556 $ 193,829 $119,447 $110,630 $ 94,337 $ 127,664 $
Page 212
VILLAGE OF GLENVIEW
CAPITAL ASSET STATISTICS BY FUNCTION/PROGRAM
Last Ten Fiscal Years
Function/Program 2009 2010 2011 2012 2013
Public Safety
Police
Police stations 1 1 1 1 1
Marked patrol units 18 18 18 18 18
Unmarked patrol units 12 12 12 12 11
Motorcycles 44444
Civilian vehicles N/A N/A N/A 3 3
Fire
Fire stations 5 5 5 5 5
Ambulances 4 4 4 4 4
Fire engines 6 6 6 6 6
Aerial ladder truck 1 1 1 1 2
Passenger vehicles N/A N/A N/A 6 6
Public works
Streets and highways
Arterial street miles 1818181818
Residential street miles 158 158 158 158 158
Streetlights 1,800 1,800 1,800 1,800 1,800
Water
Water main miles 230 230 230 230 230
Fire hydrants 2,713 2,733 2,733 2,733 2,733
Storage capacity
(in millions of gallons) 16,050 16,050 16,050 16,050 16,050
Wastewater
Sanitary sewer miles 128 150 150 150 150
Storm sewer miles 165 262 262 262 262
Parking facilities
Parking spaces 1,450 1,450 1,450 2,048 2,153
Data Source:
Various Village departments, data varies due to improved GIS capabilities.
N/A - Information is not available
Page 213
2014 2015 2016 2017 2018
11111
18 18 18 18 18
11 11 11 11 10
44442
33333
55555
44455
66666
22222
55225
18 20 20 20 20
167 167 169 169 169
1,800 1,800 1,791 1,791 1,791
247 230 233 233 233
2,823 2,866 2,867 2,867 2,913
16,300 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