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FY 2021 Certified Annual Comprehensive Financial Report
Village of Glenview, Illinois Annual Comprehensive Financial Report For the Fiscal Year Ended December 31, 2021 ANNUAL COMPREHENSIVE FINANCIAL REPORT OF THE VILLAGE OF GLENVIEW, ILLINOIS As of and for the Year Ended December 31, 2021 Prepared by: Administrative Services - Finance Division VILLAGE OF GLENVIEW TABLE OF CONTENTS As of and for the Year Ended December 31, 2021 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 - 19 BASIC FINANCIAL STATEMENTS Government-Wide Financial Statements Statement of Net Position 20 Statement of Activities 21 - 22 Fund Financial Statements Balance Sheet - Governmental Funds 23 - 24 Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position 25 Statement of Revenues, Expenditures and Changes in Fund Balances - Governmental Funds 26 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities 27 Statement of Net Position - Proprietary Funds 28 - 29 Statement of Revenues, Expenses and Changes in Net Position - Proprietary Funds 30 Statement of Cash Flows - Proprietary Funds 31 - 32 Statement of Fiduciary Net Position - Fiduciary Funds 33 Statement of Changes in Fiduciary Net Position - Fiduciary Funds 34 Index to Notes to Financial Statements 35 Notes to Financial Statements 36 - 95 VILLAGE OF GLENVIEW TABLE OF CONTENTS (cont.) As of and for the Year Ended December 31, 2021 Page(s) REQUIRED SUPPLEMENTARY INFORMATION Historical Pension and Other Postemployment Benefit Information Illinois Municipal Retirement Fund - Schedule of Changes in the Village's Net Pension Liability/(Asset) and Related Ratios 96 - 99 Illinois Municipal Retirement Fund - Schedule of Employer Contributions 100 - 102 Police Pension Fund - Schedule of Changes in the Village's Net Pension Liability and Related Ratios 103 - 104 Police Pension Fund - Schedule of Employer Contributions 105 - 106 Police Pension Fund - Schedule of Investment Returns 107 Firefighters' Pension Fund - Schedule of Changes in the Village's Net Pension Liability and Related Ratios 108 - 109 Firefighters' Pension Fund - Schedule of Employer Contributions 110 - 111 Firefighters' Pension Fund - Schedule of Investment Returns 112 Other Postemployment Benefit Plan - Schedule of Changes in the Total OPEB Liability and Related Ratios 113 General Fund Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual - General Fund 114 Special Revenue Fund Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual - Special Tax Allocation Fund - Major Special Revenue Fund 115 Notes to Required Supplementary Information 116 SUPPLEMENTARY INFORMATION General Fund Detailed Schedule of Revenues and Other Financing Sources - Budget and Actual - General Fund 117 - 119 Detailed Schedule of Expenditures and Other Financing Uses - Budget and Actual - General Fund 120 - 124 Other Governmental Funds Combining Balance Sheet - Nonmajor Governmental Funds 125 - 126 Combining Statement of Revenues, Expenditures and Changes in Fund Balances - Nonmajor Governmental Funds 127 - 128 Detailed Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Motor Fuel Tax Fund - Nonmajor Special Revenue Fund 129 VILLAGE OF GLENVIEW TABLE OF CONTENTS (cont.) As of and for the Year Ended December 31, 2021 Page(s) SUPPLEMENTARY INFORMATION (cont.) Foreign Fire Insurance Fund - Nonmajor Special Revenue Fund 130 Police Department Special Account Fund - Nonmajor Special Revenue Fund 131 Waukegan Golf TIF Fund - Nonmajor Special Revenue Fund 132 Corporate Purpose Bonds Fund - Nonmajor Debt Service Fund 133 Glen Capital Projects Fund - Nonmajor Capital Projects Fund 134 Capital Projects Fund - Major Capital Projects Fund 135 Village Permanent Fund - Major Capital Projects Fund 136 Enterprise Funds Combining Statement of Net Position - Nonmajor Enterprise Funds 137 Combining Statement of Revenues, Expenses and Changes in Net Position - Nonmajor Enterprise Funds 138 Combining Statement of Cash Flows - Nonmajor Enterprise Funds 139 Detailed Schedule of Revenues, Expenses and Changes in Net Position - Budget and Actual (Budgetary Basis) Wholesale Water Fund - Nonmajor Enterprise Fund 140 Commuter Parking Lot Fund - Nonmajor Enterprise Fund 141 Glenview Water Fund - Major Enterprise Fund 142 - 143 Glenview Sanitary Sewer Fund - Major Enterprise Fund 144 Internal Service Funds Combining Statement of Net Position - Internal Services Funds 145 Combining Statement of Revenues, Expenses and Changes in Net Position - Internal Service Funds 146 Combining Statement of Cash Flows - Internal Service Funds 147 - 148 Detailed Schedule of Revenues, Expenses and Changes in Net Position - Budget and Actual Capital Equipment Replacement Fund (CERF) - Internal Service Fund 149 Municipal Equipment Repair Fund (MERF) - Internal Service Fund 150 Insurance and Risk Fund - Internal Service Fund 151 Facilities Repair and Replacement Fund (FRRF) - Internal Service Fund 152 Fiduciary Funds Combining Statement of Fiduciary Net Position - Pension Trust Funds 153 Combining Statement of Changes in Fiduciary Net Position - Pension Trust Funds 154 VILLAGE OF GLENVIEW TABLE OF CONTENTS (cont.) As of and for the Year Ended December 31, 2021 Page(s) SUPPLEMENTARY INFORMATION (cont.) Detailed Schedule of Changes in Fiduciary Net Position - Budget and Actual Police Pension Fund - Pension Trust Fund 155 Firefighters' Pension Fund - Pension Trust Fund 156 Combining Statement of Fiduciary Net Position - Custodial Funds 157 Combining Statement of Changes in Fiduciary Net Position - Custodial 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 - 168 Library Debt Service Fund 169 Combining Balance Sheet - Glenview Library - Component Unit - Library Nonmajor Funds 170 - 171 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances - Glenview Library - Component Unit - Library Nonmajor Funds 172 - 173 Detailed Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual - Glenview Library - Component Unit - Library Nonmajor Funds Library Special Reserve Fund 174 Long-Term Debt Requirements Illinois Environment Protection Agency Loan 175 General Obligation Refunding Bond Series 2012B 176 General Obligation Bond Series 2013A 177 General Obligation Bond Series 2013B 178 General Obligation Refunding Bond Series 2016A 179 Advanced Metering Infrastructure Loan 180 Glenview Naval Air Station (GNAS) Redevelopment Area Funds Combining Balance Sheet 181 Combining Schedule of Revenues, Expenditures, and Changes in Fund Balances 182 VILLAGE OF GLENVIEW TABLE OF CONTENTS (cont.) As of and for the Year Ended December 31, 2021 Page(s) STATISTICAL SECTION Net Position - Last Ten Fiscal Years 183 - 184 Changes in Net Position - Last Ten Fiscal Years 185 - 188 Fund Balances of Governmental Funds - Last Ten Fiscal Years 189 - 190 Changes in Fund Balances of Governmental Funds - Last Ten Fiscal Years 191 - 192 Assessed Value and Actual Value of Taxable Property - Last Ten Levy Years 193 - 196 Direct and Overlapping Property Tax Rates - Last Ten Levy Years 197 - 198 Principal Property Taxpayers - Current Year and Nine Years Ago 199 Property Tax Levies and Collections - Last Ten Tax Levy Years 200 Ratios of Outstanding Debt by Type - Last Ten Fiscal Years 201 Ratios of General Bonded Debt Outstanding - Last Ten Fiscal Years 202 Direct and Overlapping Governmental Activities Debt 203 Legal Debt Margin Information 204 Demographic and Economic Statistics - Last Ten Fiscal Years 205 Principal Employers - Current Year and Nine Years Ago 206 Full-time Equivalent Employees - Last Ten Fiscal Years 207 - 208 Operating Indicators by Function/Program - Last Ten Fiscal Years 209 - 210 Capital Asset Statistics by Function/Program - Last Ten Fiscal Years 211 - 212 -i- VILLAGE OF GLENVIEW, ILLINOIS OFFICERS AND OFFICIALS December 31, 2021 LEGISLATIVE Michael Jenny Village President Jim Bland, Trustee Gina Deboni, Trustee Chuck Gitles, Trustee Mary W. Cooper, Trustee Tim Doron, Trustee Adam Sidoti, Trustee Matthew J. Formica Village Clerk/Treasurer ADMINISTRATIVE Matthew J. Formica, Village Manager Government Finance Officers Association Certificate of Achievement for Excellence in Financial Reporting Presented to Village of Glenview Illinois For its Annual Comprehensive Financial Report For the Fiscal Year Ended December 31, 2020 Executive Director/CEO -ii- Citizens of Glenview Village Board Village Manager Management Services Community Development PoliceFire Public Works -iii- 2500 East Lake Avenue Glenview, IL 60026 (847) 904-4370 Fax (847) 724-1518 www.glenview.il.us -iv- June 13, 2022 Honorable Village President Jenny 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 Annual Comprehensive Financial Report of the Village of Glenview, Illinois, for the fiscal year ended December 31, 2021 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 US, LLP, Certified Public Accountants, has issued an unmodified (“clean”) opinion on the Village of Glenview’s (the “Village”) financial statements for the year ended December 31, 2021. The independent auditors’ report is located at the front of the financial section of this report. Management’s Discussion and Analysis (MD&A) immediately follows the independent auditor’s report and provides a narrative introduction, overview, and analysis of the basic financial statements. MD&A complements this letter of transmittal and should be read in conjunction with it. Profile of the Village of Glenview The Village of Glenview, incorporated in 1899, is located in northern Cook County and is 20 miles north of the City of Chicago. The Village serves a population of approximately 48,705 and is considered to be a primary government providing a full range of general governmental services. The Village is empowered to levy a property tax on real property located within its boundaries. It also is empowered by state statute to extend its corporate limits by annexation, which it has done from time to time. The Village’s legislative body consists of the Village President and a Board of six Trustees, all elected on an at-large basis to overlapping four-year terms. The Village Manager is responsible for the day-to-day operations of the Village. As defined by the Illinois Constitution, the Village of Glenview is a home rule municipality. -v- The Village provides comprehensive governmental services, including police and fire protection, health services, water and sewer utilities, street construction and maintenance, code enforcements, planning and zoning and general administrative services. In addition to serving Village residents, the Fire Department also provides fire protection and ambulance service to the Village of Golf as well as the Glenbrook Fire Protection District, which is comprised of approximately 15,000 residents located in unincorporated Cook County. Both of these entities have long-term intergovernmental agreements with the Village to pay for these services. Long-Term Financial Planning The Village of Glenview Annual Comprehensive 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), custodial 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 2020 assessed valuation, 74.65% was classified as residential, and 25.35% was commercial/industrial. A number of revenue sources in 2021 showed an increase over last year. For example, during 2021, the annual sales tax revenue amount of $21,727,766 was 19.34% higher that the sales tax revenue received in 2020. This is not unexpected as many of the COVID-19 pandemic restrictions were lifted and non-essential businesses were reopened. Another example is the business district tax which increased 46.26% in 2021 from a 2020 amount of $65,397 to the 2020 amount of $95,647. -vi- More than any other event in recent history, the COVID-19 pandemic has created challenges to the local economy, and the Village has responded accordingly. While 2020 saw changes to economically sensitive revenues as an effect of the Illinois Stay at Home Order and associated closure of tax generating businesses, 2021 saw those revenues rebound. While some of the Village’s revenues rebounded, many businesses, specifically restaurants, were still struggling to recover. The Village Board discussed various support options and approved a restaurant support program to provide assistance to local restaurants impacted by the pandemic. The past year also included supply-chain shortages which presented new issues with delivery delays and longer lead times. While it is unknown how long the economy will continue to be affected by the pandemic, Village staff will monitor the sensitive revenues & supply/demand issues potential impacts on Village financials. Major Initiatives and Accomplishments Village Board Goals and Initiatives – The Board of Trustees’ 2021 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. As an example, the Municipal Partnering Initiative (MPI) annually encourages more than 30 area communities to collaborate and work together to jointly bid common projects and services. The MPI collaboration has saved participating communities over $3.6 million during the last decade including an estimated $450,000 for the Village of Glenview alone. Another accomplishment for the Village is their success in obtaining outside funding for capital projects. From 2014 to 2021, the Village received over $45,300,000 in federal, state and local funds to support a number of infrastructure projects. Additionally, the Village has secured $9,200,000 in state and federal funds for projects scheduled through 2026. Staff continues to have project-ready plans to submit for outside funding as opportunities are made available. -vii- Development Initiatives In 2021, several significant redevelopment projects were approved or constructed as follows: • LifeStorage received approvals to convert two (2) former office towers into a self-storage operation. The approvals include a building addition, remodeling of the existing buildings, new perimeter fencing and vehicle gates, outdoor storage, modifications to existing stormwater detention areas, utilities, signage, and associated site improvements. The total building area upon completion of the project will be 124,061 square feet devoted to self-storage operation. Demolition work began in early 2022 and construction is expected to begin in the summer of 2022. • A proposed Big Bowl restaurant was approved in 2021 at 1320 Patriot Boulevard. The Village Board granted approvals for the construction of a new dine-in restaurant, comprised of approximately 6,775 square feet, with associated site improvements. The subject property is an outlot within the shopping center located at the northwest corner of Patriot Boulevard and East Lake Avenue. The center was developed with a grocery store and in-line retail stores in the early 2000s as part of the Glenview Naval Air Station redevelopment. Construction is expected to commence in 2022. • Glenbrook Hospital at 2100 Pfingsten Road began the development approval procedure in late 2021. Approvals were granted in 2022 to allow the construction of building additions related to the existing hospital and various associated site improvements. The proposed expansion would be divided into two (2) phases. The first phase includes the construction of a one-story addition comprised of 165,000 square feet extending south from the south elevation of the existing hospital building. Phase 1 would also include the construction of a parking lot expansion at the east end of the site, south of the existing retention pond west of Pfingsten Road. Phase 2 would include the construction of a multi-story addition comprised of 65,000 square feet above the Phase 1 improvements. Together, the additions would comprise NorthShore Health system's “heart center" for cardiac and vascular procedures including six (6) new operating rooms, nine (9) new labs, and new inpatient rooms. Construction is expected to start in summer of 2022. • Fields Lexus at 2200 Waukegan Road received approval in 2021 for a 12,000 square foot showroom addition and façade upgrade at an existing auto dealership. Construction is underway and expected to be completed in 2022. • North Shore Country Club received approval in 2020 of renovations to the existing pool area, accessory buildings and modifications to the existing parking area. Construction commenced in 2021 and is expected to be completed in the summer of 2022. Awards and Acknowledgements The Government Finance Officers Association of the United States and Canada awarded the Certificate of Achievement for Excellence in Financial Reporting to the Village for the year ended December 31, 2020. The Certificate of Achievement is a prestigious national award recognizing conformance with the highest standards for preparation of state and local government financial reports. In order to be awarded the Certificate of Achievement, the Village had to publish an easily readable and efficiently organized ANNUAL COMPREHENSIVE FINANCIAL REPORT that satisfied both generally accepted accounting principles and applicable legal requirements. Baker Tilly US, LLP, trading as Baker Tilly, is a member of the global network of Baker Tilly International Ltd., the members of which are separate and independent legal entities. © 2020 Baker Tilly US, LLP Independent Auditors' Report To the Honorable Village President and Members of the Board of Trustees Village of Glenview, Illinois Report on the Audit of the Financial Statements Opinions We have audited the accompanying financial statements of the governmental activities, the business-type activities, the discretely presented component unit, each major fund and the aggregate remaining fund information of the Village of Glenview, Illinois (the Village), as of and for the year ended December 31, 2021, and the related notes to the financial statements, which collectively comprise the Village's basic financial statements as listed in the table of contents. 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, 2021 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. Basis for Opinions We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States (GAS). Our responsibilities under those standards are further described in the Auditors' Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of Village and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Responsibilities of Management for the Financial Statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America; and for the design, implementation and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that rise substantial doubt about the Village's ability to continue as a going concern for twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter. 1 Auditors' Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS and GAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements. In performing an audit in accordance with GAAS and GAS, we: Exercise professional judgment and maintain professional skepticism throughout the audit. Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Village's internal control. Accordingly, no such opinion is expressed. Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements. Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the Village's ability to continue as a going concern for a reasonable period of time. We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings and certain internal control-related matters that we identified during the audit. 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 is the responsibility of management and, 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. 2 Supplementary Information Our audit for the year ended December 31, 2021 was conducted for the purpose of forming opinions on the financial statements that collectively comprise the Village's basic financial statements. The supplementary information for the year ended December 31, 2021 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, 2021, 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, 2021. We also previously audited, in accordance with auditing standards generally accepted in the United States of America, the basic financial statements of the Village as of and for the year ended December 31, 2020 (not presented herein), and have issued our report thereon dated June 10, 2021, 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, 2020 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 2020 basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the 2020 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 basic financial statements or to those 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, 2020. Other Information Management is responsible for the other information included in the financial statements. The other information comprises the introductory section and statistical section but does not include the basic financial statements and our auditors' report thereon. Our opinions on the basic financial statements do not cover the other information, and we do not express an opinion or any form of assurance thereon. In connection with our audit of the basic financial statements, our responsibility is to read the other information and consider whether a material inconsistency exists between the other information and the basic financial statements, or the other information otherwise appears to be materially misstated. If, based on the work performed, we conclude that an uncorrected material misstatement of the other information exists, we are required to describe it in our report. Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated June 13, 2022 on our consideration of the Village'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 solely 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'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's internal control over financial reporting and compliance. Oak Brook, Illinois June 13, 2022 3 See independent auditors’ report. 4 Village of Glenview, Illinois Management’s Discussion and Analysis December 31, 2021 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, 2021. Please read it in conjunction with the transmittal letter, which begins on page iv and the Village’s basic financial statements, which begin on page 20. FINANCIAL HIGHLIGHTS • The Village’s net position of governmental activities and business-type activities increased by $29,301,988, or 12.12%, and $5,514,347, or 7.72%, respectively, resulting in total ending net position for the year of $348,032,356. • During the year, government-wide revenues before transfers for the governmental and business-type activities totaled $153,876,911, while expenses totaled $119,060,576, resulting in the increase in net position of $34,816,335. • The Village’s net position totaled $348,032,356 on December 31, 2021, an increase of $34,816,335 from the prior fiscal year. • The ending fund balance for the General Fund equaled $38,689,667, an increase of $5,078,751 from 2020. 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 21-22) 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 23. For governmental activities, these statements tell how these services were financed in the short term as well as what remains for future spending. Fund financial statements also report the Village’s operations in more detail than the government-wide statements by providing information about the Village’s most significant funds. The remaining statements provide financial information about fiduciary activities for which the Village acts solely as a trustee or agent for the benefit of those outside of the government. Government-Wide Financial Statements The government-wide financial statements provide readers with a broad overview of the Village’s finances, in a manner similar to a private-sector business. The government-wide financial statements can be found on pages 20-22 of this report. The Statement of Net Position reports information on all of the Village’s assets, deferred outflows of resources, liabilities and deferred inflows of resources, with the difference between 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. See independent auditors’ report. 5 Village of Glenview, Illinois Management’s Discussion and Analysis (Continued) December 31, 2021 USING THIS ANNUAL REPORT – Continued Government-Wide Financial Statements - Continued The Statement of Activities presents information showing how the government’s net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods (e.g., uncollected taxes and earned but unused vacation leave). Both of the government-wide financial statements distinguish functions of the Village that are principally supported by taxes and intergovernmental revenues (governmental activities) from other functions that are intended to recover all or a significant portion of their costs through user fees and charges (business-type activities). The governmental activities of the Village include general government, public works, public safety, and development. The business-type activities of the Village include water and sanitary sewer operations, 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. See independent auditors’ report. 6 Village of Glenview, Illinois Management’s Discussion and Analysis (Continued) December 31, 2021 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, Capital Projects Fund and Village Permanent Fund all of which are considered to be major funds. Data from the other six governmental funds are combined into a single, aggregated presentation. Individual fund data for each of these nonmajor governmental funds is provided in the form of combining statements elsewhere in this report. The Village adopts an annual budget for all of the governmental funds. Budgetary comparison schedules for all budgeted funds have been provided to demonstrate compliance with this budget. The basic governmental fund financial statements can be found on pages 23-27 of this report. Proprietary Funds The Village maintains two proprietary fund types: enterprise and internal service. Enterprise funds are used to report the same functions presented as business-type activities in the government–wide financial statements. The Village utilizes enterprise funds to account for its water and sanitary sewer operations, 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 28-32 of this report. 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 33-34 of this report. See independent auditors’ report. 7 Village of Glenview, Illinois Management’s Discussion and Analysis (Continued) December 31, 2021 USING THIS ANNUAL REPORT – Continued 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 35-95 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 96-113 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 114-158 of this report. Additionally, the combining and individual fund statements for the component unit can be found on pages 159-174. 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 $348,032,356 at December 31, 2021, compared to $313,216,021 at December 31, 2020. 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, 2021 is $57,668,567 which is made up of $0, $25,030,426, and $32,638,141, respectively. The Village’s total net pension liability on December 31, 2020 is $74,635,385 which is made up of $5,362,930, $29,136,834, and $40,135,621, respectively. As of December 31, 2021, the Village’s net position also includes a net pension asset for IMRF of $1,484,898. 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. On December 31, 2021, the Village has offset the total net pension liabilities of $57,668,567 with deferred outflows of $12,667,957 and deferred inflows of $28,021,422. On December 31, 2020, the Village has offset the total net pension liabilities of $74,635,385 with deferred outflows of $14,053,681and deferred inflows of $18,904,432. A large portion of the Village’s net position, $294,213,284, 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, $29,132,946 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 $24,686,126 represents unrestricted net position. See independent auditors’ report. 8 Village of Glenview, Illinois Management’s Discussion and Analysis (Continued) December 31, 2021 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. 2021 2020 2021 2020 2021 2020 Current and other assets 167,896,373 $ 147,113,024 $ 21,600,621 $ 16,232,934 $ 189,496,994 $ 163,345,958 $ Capital assets 244,869,544 245,068,154 63,873,442 63,301,150 308,742,986 308,369,304 Total assets 412,765,917 392,181,178 85,474,063 79,534,084 498,239,980 471,715,262 Deferred Outflow of Resources 15,192,330 16,945,774 751,760 825,468 15,944,090 17,771,242 Total deferred outflows 15,192,330 16,945,774 751,760 825,468 15,944,090 17,771,242 Long-term liabilities 84,791,847 109,429,630 4,052,115 5,990,948 88,843,962 115,420,578 Other liabilities 29,181,880 25,989,143 3,744,714 2,125,796 32,926,594 28,114,939 Total liabilities 113,973,727 135,418,773 7,796,829 8,116,744 121,770,556 143,535,517 Deferred Inflows of Resources 42,875,342 31,900,989 1,505,816 833,977 44,381,158 32,734,966 Total deferred inflows 42,875,342 31,900,989 1,505,816 833,977 44,381,158 32,734,966 Net Position Net investment in capital assets 233,887,283 225,337,565 60,326,001 58,722,317 294,213,284 284,059,882 Restricted 28,872,630 18,545,802 260,316 - 29,132,946 18,545,802 Unrestricted 8,349,265 (2,076,177) 16,336,861 12,686,514 24,686,126 10,610,337 Total net position 271,109,178 $ 241,807,190 $ 76,923,178 $ 71,408,831 $ 348,032,356 $ 313,216,021 $ Activities Activities Government Table 1 Statement of Net Position As of December 31, 2021 and 2020 Governmental Business-Type Total Primary See independent auditors’ report. 9 Village of Glenview, Illinois Management’s Discussion and Analysis December 31, 2021 Revenue 2021 2020 2021 2020 2021 2020 Program revenues Charges for services 17,266,831 $ 15,888,315 $ 26,097,749 $ 22,987,021 $ 43,364,580 $ 38,875,336 $ Grants and contributions Operating 3,232,713 3,806,521 - - 3,232,713 3,806,521 Capital 2,931,912 5,643,948 - - 2,931,912 5,643,948 General Revenue Taxes Property 53,126,350 52,844,232 - - 53,126,350 52,844,232 Home rule 10,699,335 8,630,650 - - 10,699,335 8,630,650 Telecommunication 1,153,486 1,283,383 - - 1,153,486 1,283,383 Utility 3,453,107 3,393,490 - - 3,453,107 3,393,490 Other 821,533 547,998 - - 821,533 547,998 Intergovernmental Sales 21,727,766 18,206,509 - - 21,727,766 18,206,509 State income 6,356,983 5,147,028 - - 6,356,983 5,147,028 Local use 1,867,089 2,040,735 - - 1,867,089 2,040,735 Road and bridge 482,926 482,926 - - 482,926 482,926 Property replacement 384,258 384,258 - - 384,258 384,258 Other 1,629,425 1,426,906 - - 1,629,425 1,426,906 Investment income 571,805 2,189,159 (1,403) 84,051 570,402 2,273,210 Other general revenues 1,845,868 1,819,373 229,178 1,289 2,075,046 1,820,662 Total revenues 127,551,387 123,735,431 26,325,524 23,072,361 153,876,911 146,807,792 Expenses General government 48,523,232 43,729,644 - - 48,523,232 43,729,644 Public works 30,821,939 33,759,829 - - 30,821,939 33,759,829 Public safety 12,499,598 14,027,726 - - 12,499,598 14,027,726 Development 6,711,253 3,945,053 - - 6,711,253 3,945,053 Interest on long-term debt 608,592 974,733 - - 608,592 974,733 Water services - - 14,002,267 13,032,322 14,002,267 13,032,322 Sanitary sewerage - - 2,272,423 2,006,711 2,272,423 2,006,711 Wholesale water - - 2,983,885 2,336,738 2,983,885 2,336,738 Commuter parking - - 637,387 686,458 637,387 686,458 Total expenses 99,164,614 96,436,985 19,895,962 18,062,229 119,060,576 114,499,214 Change in net position before transfers 28,386,773 27,298,446 6,429,562 5,010,132 34,816,335 32,308,578 Transfers 915,215 898,024 (915,215) (898,024) - - Change in net position 29,301,988 28,196,470 5,514,347 4,112,108 34,816,335 32,308,578 Net position - beginning 241,807,190 213,610,720 71,408,831 67,296,723 313,216,021 280,907,443 Net position - ending 271,109,178 $ 241,807,190 $ 76,923,178 $ 71,408,831 $ 348,032,356 $ 313,216,021 $ Activities Activities Government Table 2 Changes in Net Position For the Fiscal Years Ended December 31, 2021 and 2020 Governmental Business-Type Total Primary See independent auditors’ report. 10 Village of Glenview, Illinois Management’s Discussion and Analysis (Continued) December 31, 2021 GOVERNMENT-WIDE FINANCIAL ANALYSIS – Continued Normal Impacts There are seven 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 47.3% of the Village’s General Fund expenditures (including transfers) and approximately 18.9% of enterprise operating costs at December 31, 2021. 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. See independent auditors’ report. 11 Village of Glenview, Illinois Management’s Discussion and Analysis (Continued) December 31, 2021 GOVERNMENT-WIDE FINANCIAL ANALYSIS – Continued Net position of the Village’s governmental activities increased by 12.12%, or $29,301,988 ($271,109,178 in 2021 compared to $241,807,190 in 2020). This increase is due to a combination of higher than anticipated revenues as well as a decrease in both general obligation debt and net pension liability. Net position of business-type activities increased 7.72%, or $5,514,347 ($76,923,178 in 2021 compared to $71,408,831 in 2020). Governmental Activities Revenues: Revenues for governmental activities totaled $127,551,387 at December 31, 2021 and $123,735,431 at December 31, 2020, an increase of $3,815,956. Some key changes during the year for the governmental activity revenues are described below: • Property tax revenues increased by $282,118, or 0.53%, from $52,844,232 at December 31, 2020 to $53,126,350 at December 31, 2021. This is a direct result of the levy increase due to the 0.73% EAV growth associated with newly annexed, constructed or improved property in the Village and offset by previous year refunds. • Sales tax increased by $3,521,257, or 19.34%, from $18,206,509 at December 21, 2020 to $21,727,766 at December 31, 2021. This was expected as spending recovered from 2020 pandemic levels. • Local Use tax decreased by $173,646, or 8.51%, from $2,040,735 at December 31, 2020 to $1,867,089 at December 31, 2021. This decrease corresponds to the increase in Sales Tax due to Illinois legislation that required online retailers to begin collecting Retailer’s Occupation Tax instead of Use Tax. See independent auditors’ report. 12 Village of Glenview, Illinois Management’s Discussion and Analysis (Continued) December 31, 2021 GOVERNMENT-WIDE FINANCIAL ANALYSIS – Continued Governmental Activities – Continued The following table graphically depicts the major revenue sources of the Village. It illustrates 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. See independent auditors’ report. 13 Village of Glenview, Illinois Management’s Discussion and Analysis (Continued) December 31, 2021 GOVERNMENT-WIDE FINANCIAL ANALYSIS – Continued Governmental Activities – Continued For the year ended December 31, 2021, governmental activities expenses totaled $99,164,614, an increase of $2,727,629, or 2.83% from the 2020 expenses of $96,436,985. Business-Type activities Business-Type activities posted total revenues of $26,325,524, while the cost of all business-type activities totaled $19,895,962. This results in a surplus of $6,429,562 prior to net transfers out of $915,215. In 2020, revenues of $23,072,361 exceed expenses of $18,062,229, resulting in a surplus of $5,010,132 prior to net transfers out of $898,024. Revenues For the fiscal year ended December 31, 2021, revenues for the business-type activities totaled $26,325,524, an increase of $3,253,163, or 14.10%, due primarily to an increase in water charges with a full year selling water to a new wholesale customer. Expenses Expenses for the year ended December 31, 2021 totaled $19,895,962 an increase of $1,833,733, or 10.15% over the 2020 expenses of $18,062,229. This change was driven by an increase in Contractual Services, which was expected as 2021 was the first full year providing water to a new wholesale customer. See independent auditors’ report. 14 Village of Glenview, Illinois Management’s Discussion and Analysis (Continued) December 31, 2021 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 $101,472,049, which is $14,005,276, or 16.01%, higher than last year’s total of $87,466,773. Of the $101,472,049 total, $36,862,718, or approximately 36.33%, of the fund balance constitutes unassigned fund balance. General Fund The General Fund reported an increase in fund balance for the year of $5,078,751 or 15.11%, which was expected due to revenues exceeding expenditures. The increase in Property Taxes, due to local EAV growth, and Sales Tax, due to online retailers collecting and remitting Retailer’s Occupation Tax rather than use tax. The General Fund is the chief operating fund of the Village. At December 31, 2021, unassigned fund balance in the General Fund was $36,862,718 which represents 95.28% 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 48% 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, 2021, the Special Tax Allocation Fund reported revenues in excess of expenditures of $5,773,164, which for the most part was expected but did vary from budget by property tax revenues coming in over budget by $1,553,022, though that number was consistent with the previous year. Expenses came in over budget by $3,425,217 and higher than 2020 by $4,548,430. This resulted in the fund balance increasing by approximately half of the 2020 increase. 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, 2021, the Village Permanent Fund reported revenues less than expenditures by $68,162. The Capital Projects Fund is used to account for revenues and expenditures involved with improvements throughout the Village not accounted for in other funds. For the year ended December 31, 2021, the Capital Projects Fund reported a negative net change in fund balance of $19,075. This change was a result of decreasing the transfer from the General Fund from $10,000,000 in 2020 to $6,500,000 in 2021. See independent auditors’ report. 15 Village of Glenview, Illinois Management’s Discussion and Analysis (Continued) December 31, 2021 FINANCIAL ANALYSIS OF THE GOVERNMENT’S FUNDS – Continued 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 $3,978,665; the previous fiscal year reported a surplus of $3,231,007. The surplus in this fund is largely the result of operating expenses coming in $1,517,932 lower than budget (due in large part to GAAP adjustments) offset by operating revenues and transfers in coming in $1,740,143 higher than budget. Compared to 2020, water usage increased resulting in higher revenues, while expenses in Capital Outlay increased as planned, resulting in the smaller surplus. Unrestricted net position in the Glenview Water Fund totaled $9,249,195 at December 31, 2021. The surplus in the current year in the Glenview Sanitary Sewer Fund was $335,466, resulting in ending net position of $21,110,387. In the prior year the Glenview Sanitary Sewer Fund reported a surplus of $482,437. The current year surplus was less than 2020’s surplus due primarily to capital expenses being higher in 2021 as planned. See independent auditors’ report. 16 Village of Glenview, Illinois Management’s Discussion and Analysis (Continued) December 31, 2021 GENERAL FUND BUDGETARY HIGHLIGHTS General Fund actual revenues (including other financing sources) for the year totaled $82,008,083 compared to budgeted revenues of $77,546,839, a positive difference of $4,461,244. There are several factors for this positive variance. The largest variance to budget resides in Income Tax being over budget by $1,197,064 and Sales Tax being over budget by $1,124,529. Combined with various other smaller increases these items make up the positive variance. The General Fund actual expenditures (including transfers) for the year of $76,929,332 were $1,788,424 lower than budgeted expenditures of $78,717,756. Personnel expenditures of $36,380,014 were under budget by $87,942 or 0.2%. Contractual Services were under budget by $1,024,078 or 7.01% primarily due to planned Business Retention & Economic Development payments coming in lower than expected. Commodities were under budget by $81,707 or 4.30% mainly due to fewer than anticipated electronic equipment and supplies purchases, and purchases of operational supplies. Other Charges were under budget by $497,350 or 3.02% due to primarily lower training and pension expenses. Capital Outlay was over budget by $24,499 or 30.62% due to higher tree planting program expenses. Original Final Budget Budget Actual Revenues Taxes 27,039,881 $ 27,789,881 $ 28,376,756 $ Intergovernmental 29,511,239 32,783,420 37,041,578 Other 16,398,538 16,398,538 16,014,749 Total revenues 72,949,658 76,971,839 81,433,083 Expenditures (64,799,063) (70,004,724) (68,199,485) Transfers in 575,000 575,000 575,000 Transfers out (8,713,032) (8,713,032) (8,729,847) Total expenditures and net transfers (72,937,095) (78,142,756) (76,354,332) Net change in fund balance 12,563 $ (1,170,917) $ 5,078,751 $ Table 3 General Fund Budgetary Highlights See independent auditors’ report. 17 Village of Glenview, Illinois Management’s Discussion and Analysis (Continued) December 31, 2021 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, 2021 was $308,742,986 (net of accumulated depreciation). This investment in capital assets includes land, buildings and improvements, machinery, equipment, and vehicles, water and sanitary sewer system improvements, and other infrastructure improvements. This year’s major additions included: Additional information on the Village’s capital assets can be found in Note III on pages 59-60 of this report. 2021 2020 2021 2020 2021 2020 Construction in progress -$ -$ -$ -$ -$ -$ Land 26,041,796 26,041,796 567,851 567,851 26,609,647 26,609,647 Land right of way 55,281,951 55,281,951 - - 55,281,951 55,281,951 Buildings and improvements 65,433,621 65,839,419 1,734,492 1,830,343 67,168,113 67,669,762 Machinery, equipment and vehicles 6,393,849 5,736,899 289,718 423,552 6,683,567 6,160,451 Infrastructure 91,718,327 92,168,089 - - 91,718,327 92,168,089 Water system - - 42,981,296 41,900,845 42,981,296 41,900,845 Sanitary sewer system - - 18,300,085 18,578,559 18,300,085 18,578,559 Total 244,869,544 $ 245,068,154 $ 63,873,442 $ 63,301,150 $ 308,742,986 $ 308,369,304 $ Activities Activities Government Table 4 Capital Assets at Year End Net of Depreciation Governmental Business-Type Total Primary Additions Construction in progress -$ Land - Building and improvements 1,855,468 Infrastructure, including roadways, etc.3,617,454 Machinery, equipment and vehicles 1,950,233 Sanitary sewer system 252,930 Water system 2,466,997 Total 10,143,082 $ See independent auditors’ report. 18 Village of Glenview, Illinois Management’s Discussion and Analysis (Continued) December 31, 2021 CAPITAL ASSETS AND DEBT ADMINISTRATION - Continued Debt Administration At year-end, the Village had total outstanding debt of $15,118,802 as compared to $25,166,218 the previous year, a decrease of $10,047,416, or 39.92%, 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 thirty 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 63-66 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 2022 budget, tax rates, and fees that will be charged for its governmental and business-type activities. One of those factors is the economy. When the balanced budget was adopted in December 2021, the Village was continuing to maintain a strong and stable economic position even though the COVID-19 pandemic has impacted the economic forecast over the past two years. 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. With revenues continuing to show growth, expenditures increased to reinstate cuts from the previous two years as well as new initiatives to better serve residents. The budget also included a continuation of the prioritization in the Village’s infrastructure replacements with a $29.8M Capital Improvement Program (CIP). Also continually being analyzed are the three-to-five-year financial models to ensure the Village’s long term sustainability. 2021 2020 2021 2020 2021 2020 General obligation bonds 11,339,843 $ 20,331,496 $ -$ -$ 11,339,843 $ 20,331,496 $ Corporate purpose notes - - 3,547,441 4,578,833 3,547,441 4,578,833 Loans payable 231,518 255,889 - - 231,518 255,889 Total debt 11,571,361 $ 20,587,385 $ 3,547,441 $ 4,578,833 $ 15,118,802 $ 25,166,218 $ Governmental Business-Type Total Primary Activities Activities Government See independent auditors’ report. 19 Village of Glenview, Illinois Management’s Discussion and Analysis (Continued) December 31, 2021 ECONOMIC FACTORS AND NEXT YEAR’S BUDGET AND RATES - Continued Another factor was the closure of The Glen TIF in December 2021. The Village of Glenview established The Glen TIF via ordinance in 1998 following the closure of the Glenview Naval Air Station. The 1,360-acre TIF boundary includes an area roughly bound by Willow Road, Lehigh Avenue and Shermer Road. The Glen TIF produced substantial infrastructure improvements such as roadways and storm water detention facilities, and numerous public developments, including Gallery Park, Attea Middle School, the Park Center, the Glen of North Glenview Metra Station, Fire Station 14 and the Northeastern Illinois Public Safety Training Academy. Closing the TIF in 2021 will afford the local tax jurisdictions the opportunity to request the County to redirect the previously levied and paid property taxes that were distributed to the TIF to their individual jurisdictions. Local tax jurisdictions include, but are not limited to, the Glenview Public Library, Glenview Park District, Village of Glenview, and School Districts 30, 34, and 225. Closure of the TIF will not result in any tax increases for property owners inside or outside the TIF district boundaries. The Village’s share of redirected property taxes are offset by ongoing expenditures such as personnel costs, snow and ice maintenance, and landscape services that will be absorbed by the Village and included in the Village’s General Fund. Funds will still be held in the Special Tax Allocation Fund to cover previously planned for and approved expenses as well as property tax refunds. 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. VILLAGE OF GLENVIEW STATEMENT OF NET POSITION As of December 31, 2021 Governmental Activities Business-type Activities Totals Glenview Library ASSETS Cash and Cash Equivalents $105,994,234 $16,091,012 $122,085,246 $6,413,055 Investments 24,355,866 981,112 25,336,978 - Receivables (net) Taxes 26,044,250 -26,044,250 9,996,455 Accounts 3,231,289 4,225,058 7,456,347 - Other 656,246 7,640 663,886 - Prepaid Items 2,210,268 -2,210,268 4,496 Inventories 592,923 35,483 628,406 - Due from Other Governments 173,810 -173,810 - Due from Custodial Funds 55 -55 - Lease Receivable 316,450 -316,450 - Deposits 578,031 -578,031 - Advances to Custodial Funds 293,369 -293,369 - Property Held for Resale 2,225,000 -2,225,000 - Net Pension Asset 1,224,582 260,316 1,484,898 437,472 Capital Assets Land 26,041,796 567,851 26,609,647 5,426,987 Land Right of Way 55,281,951 -55,281,951 - Other Capital Assets, Net of Depreciation 163,545,797 63,305,591 226,851,388 24,079,461 Total Assets 412,765,917 85,474,063 498,239,980 46,357,926 DEFERRED OUTFLOWS OF RESOURCES Deferred Charge on Refunding 357,582 -357,582 627,878 Deferred Outflows Related to Pensions 11,987,166 680,791 12,667,957 1,118,198 Deferred Outflows Related to OPEB 2,847,582 70,969 2,918,551 52,402 Total Deferred Outflows of Resources 15,192,330 751,760 15,944,090 1,798,478 LIABILITIES Accounts Payable 22,781,264 2,110,508 24,891,772 421,902 Accrued Payroll 700,569 69,092 769,661 90,252 Accrued Interest Payable 31,549 5,321 36,870 42,671 Other Payables 1,217,734 143,843 1,361,577 22,661 Due to Pension Trusts 109,318 -109,318 - Refundable Deposits 2,097,114 15,950 2,113,064 - Unearned Revenues 2,244,332 1,400,000 3,644,332 - Noncurrent Liabilities Due Within One Year 3,322,315 1,161,373 4,483,688 1,284,549 Due in More Than One Year 81,469,532 2,890,742 84,360,274 12,581,988 Total Liabilities 113,973,727 7,796,829 121,770,556 14,444,023 DEFERRED INFLOWS OF RESOURCES Property Taxes Levied for Future Periods 15,052,754 -15,052,754 9,924,433 Deferred Inflows Related to Pensions 26,547,387 1,474,035 28,021,422 2,477,182 Deferred Inflows Related to OPEB 1,275,201 31,781 1,306,982 23,467 Total Deferred Inflows of Resources 42,875,342 1,505,816 44,381,158 12,425,082 NET POSITION Net Investment in Capital Assets 233,887,283 60,326,001 294,213,284 16,674,715 Restricted for Street Improvements 2,249,035 -2,249,035 - Public Safety 262,927 -262,927 - Economic Development 25,136,086 -25,136,086 - Culture and Recreation ---1,277,769 Employee Retirement 1,224,582 260,316 1,484,898 437,472 Unrestricted 8,349,265 16,336,861 24,686,126 2,897,343 TOTAL NET POSITION $271,109,178 $76,923,178 $348,032,356 $21,287,299 See accompanying notes to financial statements. 20 VILLAGE OF GLENVIEW STATEMENT OF ACTIVITIES For the Year Ended December 31, 2021 Program Revenues Functions/Programs Expenses Charges for Services Operating Grants and Contributions Capital Grants and Contributions Primary Government Governmental Activities General Government $48,523,232 $4,798,421 $-$- Public Safety 30,821,939 11,239,266 143,172 - Public Works 12,499,598 1,009,747 2,709,322 - Development 6,711,253 219,397 380,219 2,931,912 Interest and Fiscal Charges 608,592 --- Total Governmental Activities 99,164,614 17,266,831 3,232,713 2,931,912 Business-type Activities Glenview Water Fund 14,002,267 17,258,433 -- Glenview Sanitary Sewer Fund 2,272,423 2,701,486 -- Wholesale Water Fund 2,983,885 5,997,125 -- Commuter Parking Lot Fund 637,387 140,705 -- Total Business-type Activities 19,895,962 26,097,749 -- Total Primary Government $119,060,576 $43,364,580 $3,232,713 $2,931,912 Component Unit Glenview Library $7,668,990 $164,455 $1,237,511 $- General Revenues Taxes Property Home Rule Sales Telecommunication Utility Other Intergovernmental - unrestricted Sales Income Local Use Other Taxes Investment Income (Loss) Gain on Sale of Assets Miscellaneous Total General Revenues Transfers Change in net position NET POSITION - Beginning of Year NET POSITION - END OF YEAR See accompanying notes to financial statements. 21 Net (Expenses) Revenues and Changes in Net Position Primary Government Component Unit Governmental Activities Business-type Activities Totals Glenview Library $(43,724,811)$-$(43,724,811)$- (19,439,501)-(19,439,501)- (8,780,529)-(8,780,529)- (3,179,725)-(3,179,725)- (608,592)-(608,592)- (75,733,158)-(75,733,158)- -3,256,166 3,256,166 - -429,063 429,063 - -3,013,240 3,013,240 - -(496,682)(496,682)- -6,201,787 6,201,787 - (75,733,158)6,201,787 (69,531,371)- ---(6,267,024) 53,126,350 -53,126,350 8,093,306 10,699,335 -10,699,335 - 1,153,486 -1,153,486 - 3,453,107 -3,453,107 - 821,533 -821,533 - 21,727,766 -21,727,766 - 6,356,983 -6,356,983 - 1,867,089 -1,867,089 - 2,496,609 -2,496,609 - 571,805 (1,403)570,402 9,500 32,299 -32,299 - 1,813,569 229,178 2,042,747 339 104,119,931 227,775 104,347,706 8,103,145 915,215 (915,215)-- 29,301,988 5,514,347 34,816,335 1,836,121 241,807,190 71,408,831 313,216,021 19,451,178 $271,109,178 $76,923,178 $348,032,356 $21,287,299 See accompanying notes to financial statements. 22 VILLAGE OF GLENVIEW BALANCE SHEET GOVERNMENTAL FUNDS As of December 31, 2021 General Fund Special Tax Allocation Fund Capital Projects Fund Village Permanent Fund Nonmajor Governmental Funds Totals ASSETS Cash and Cash Equivalents $31,144,360 $23,599,034 $8,181,857 $23,021,418 $7,365,690 $93,312,359 Investments 1,492,850 10,802,331 -3,960,031 1,961,950 18,217,162 Receivables (net) Taxes 26,044,250 ----26,044,250 Accounts 2,972,873 51,166 10,500 -67,886 3,102,425 Grants 58,750 -21,206 --79,956 Accrued Interest 785 84,113 -2,101 16,281 103,280 Other 367,149 ----367,149 Prepaid Items 389 ----389 Inventories 146,560 ----146,560 Due from Other Funds 146 ---7,845 7,991 Due from Other Governments ----173,810 173,810 Due from Custodial Funds 55 ----55 Lease Receivable -30,450 -286,000 -316,450 Property Held for Resale ---2,225,000 -2,225,000 Advances to Custodial Funds ---293,369 -293,369 TOTAL ASSETS $62,228,167 $34,567,094 $8,213,563 $29,787,919 $9,593,462 $144,390,205 See accompanying notes to financial statements. 23 General Fund Special Tax Allocation Fund Capital Projects Fund Village Permanent Fund Nonmajor Governmental Funds Totals LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND FUND BALANCES Liabilities Accounts Payable $4,429,184 $15,429,675 $1,322,592 $60,023 $292,671 $21,534,145 Accrued Payroll 673,852 12,373 --161 686,386 Other Payables 432,819 -546,499 -205,357 1,184,675 Refundable Deposits 2,097,114 ----2,097,114 Due to Other Funds 7,845 ---146 7,991 Due to Pension Trusts 109,318 ----109,318 Accrued Expenses -1,159 ---1,159 Unearned Revenues 735,614 -1,500,000 8,718 -2,244,332 Total Liabilities 8,485,746 15,443,207 3,369,091 68,741 498,335 27,865,120 Deferred Inflows of Resources Property Taxes Levied for Future Periods 15,052,754 ----15,052,754 Unavailable Grant Revenue --282 --282 Total Deferred Inflows of Resources 15,052,754 -282 --15,053,036 Fund Balances Nonspendable for Prepaid Items 389 ----389 Nonspendable for Inventory 146,560 ----146,560 Restricted for Street Improvements ----2,249,035 2,249,035 Restricted for Public Safety ----262,927 262,927 Restricted for Economic Development -19,123,887 --6,012,199 25,136,086 Assigned to Thomas Place Affordable Housing Assistance 1,680,000 ----1,680,000 Assigned to Debt Service Funds ----570,966 570,966 Assigned to Capital Project Funds --4,844,190 29,719,178 -34,563,368 Unassigned 36,862,718 ----36,862,718 Total Fund Balances 38,689,667 19,123,887 4,844,190 29,719,178 9,095,127 101,472,049 TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND FUND BALANCES $62,228,167 $34,567,094 $8,213,563 $29,787,919 $9,593,462 $144,390,205 See accompanying notes to financial statements. 24 VILLAGE OF GLENVIEW RECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL FUNDS TO THE STATEMENT OF NET POSITION As of December 31, 2021 Total Fund Balances - Governmental Funds $101,472,049 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.244,869,544 Deferred charge on refunding of debt is not considered to represent a financial resource and, therefore, is not reported in the funds.357,582 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 The net pension asset does not relate to current financial resources and is not reported in the governmental funds.1,224,582 Deferred outflows of resources related to pensions do not relate to current financial resources and are not reported in the governmental funds.11,987,166 Deferred inflows of resources related to pensions do not relate to current financial resources and are not reported in the governmental funds.(26,547,387) Deferred outflows of resources related to OPEB do not relate to current financial resources and are not reported in the governmental funds.2,847,582 Deferred inflows of resources related to OPEB do not relate to current financial resources and are not reported in the governmental funds.(1,275,201) Internal service funds are reported in the statement of net position as governmental activities.19,799,931 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 (11,339,843) Loan payable (231,518) Total OPEB liability (12,983,647) Compensated absences (1,371,828) Accrued interest (31,549) Net pension liability (57,668,567) NET POSITION OF GOVERNMENTAL ACTIVITIES $271,109,178 See accompanying notes to financial statements. 25 VILLAGE OF GLENVIEW STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - GOVERNMENTAL FUNDS For the Year Ended December 31, 2021 General Fund Special Tax Allocation Fund Capital Projects Fund Village Permanent Fund Nonmajor Governmental Funds Totals REVENUES Property Taxes $12,249,295 $38,202,492 $-$-$2,674,563 $53,126,350 Other Taxes 16,127,461 ----16,127,461 Licenses and Permits 2,754,448 ----2,754,448 Fines, Forfeitures and Penalties 129,330 ----129,330 Charges for Services 13,100,852 204,360 ---13,305,212 Intergovernmental 37,041,578 310,842 209,243 -3,879,277 41,440,940 Investment Income (Loss)30,119 72,829 2,572 (12,178)5,779 99,121 Miscellaneous -14,989 40,356 4,039 4,158 63,542 Total Revenues 81,433,083 38,805,512 252,171 (8,139)6,563,777 127,046,404 EXPENDITURES Current General Government 21,271,258 24,065,520 ---45,336,778 Public Safety 36,066,277 ---117,247 36,183,524 Public Works 6,976,017 ----6,976,017 Development 3,885,933 2,501,973 -60,023 208,310 6,656,239 Capital Outlay --7,337,090 -2,307,296 9,644,386 Debt Service Principal -6,210,000 24,371 -2,450,000 8,684,371 Interest and Fiscal Charges -254,855 --470,173 725,028 Total Expenditures 68,199,485 33,032,348 7,361,461 60,023 5,553,026 114,206,343 Excess (Deficiency) of Revenues over Expenditures 13,233,598 5,773,164 (7,109,290)(68,162)1,010,751 12,840,061 OTHER FINANCING SOURCES (USES) Transfers In 575,000 104,290 7,090,215 -2,229,847 9,999,352 Transfers Out (8,729,847)---(104,290)(8,834,137) Total Other Financing Sources (Uses)(8,154,847)104,290 7,090,215 -2,125,557 1,165,215 Net Change in Fund Balances 5,078,751 5,877,454 (19,075)(68,162)3,136,308 14,005,276 FUND BALANCES - Beginning of Year 33,610,916 13,246,433 4,863,265 29,787,340 5,958,819 87,466,773 FUND BALANCES - END OF YEAR $38,689,667 $19,123,887 $4,844,190 $29,719,178 $9,095,127 $101,472,049 See accompanying notes to financial statements. 26 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, 2021 Net change in fund balances - total governmental funds $14,005,276 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 7,423,155 Depreciation is reported in the government-wide financial statements (7,554,287) Net book value of assets retired (67,478) 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 8,684,371 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 331,653 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 154,715 Net pension asset 1,224,582 Accrued interest on debt 28,108 Amortization of deferred charge on refunding (243,325) Net pension liability 16,053,906 Deferred outflows of resources related to pensions (1,319,443) Deferred inflows of resources related to pensions (8,439,711) Deferred outflows of resources related to OPEB (190,676) Deferred inflows of resources related to OPEB 167,339 Total OPEB liability (586,049) 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.(370,148) CHANGE IN NET POSITION OF GOVERNMENTAL ACTIVITIES $29,301,988 See accompanying notes to financial statements. 27 VILLAGE OF GLENVIEW STATEMENT OF NET POSITION PROPRIETARY FUNDS As of December 31, 2021 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 $10,486,155 $2,686,972 $2,917,885 $16,091,012 $12,681,875 Investments --981,112 981,112 6,138,704 Receivables Accounts, Net 2,670,739 671,331 882,988 4,225,058 128,864 Accrued Interest --7,640 7,640 45,861 Other ----60,000 Prepaid Items ----2,209,879 Inventories 35,483 --35,483 446,363 Deposits ----578,031 Net Pension Asset 214,024 46,292 -260,316 - Total Current Assets 13,406,401 3,404,595 4,789,625 21,600,621 22,289,577 Noncurrent Assets Capital Assets Capital Assets not Being Depreciated 67,851 -500,000 567,851 - Capital Assets Being Depreciated 70,598,651 27,473,040 5,515,846 103,587,537 - Less: Accumulated Depreciation (27,981,361)(9,172,958)(3,127,627)(40,281,946)- Total Noncurrent Assets 42,685,141 18,300,082 2,888,219 63,873,442 - Total Assets 56,091,542 21,704,677 7,677,844 85,474,063 22,289,577 DEFERRED OUTFLOWS OF RESOURCES Deferred Outflows Related to Pensions 560,131 120,660 -680,791 - Deferred Outflows Related to OPEB 56,990 10,238 3,741 70,969 - Total Deferred Outflows of Resources 617,121 130,898 3,741 751,760 - See accompanying notes to financial statements. 28 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 $1,309,282 $364,277 $436,949 $2,110,508 $1,247,119 Accrued Payroll 56,081 9,579 3,432 69,092 14,183 Accrued Interest 5,321 --5,321 - Accrued Expenses 131,188 12,565 90 143,843 31,900 Refundable Deposits 15,950 --15,950 - Claims Payable ----478,578 Unearned Revenues 1,400,000 --1,400,000 - Current Portion of Long-Term Liabilities 1,154,196 5,075 2,102 1,161,373 - Total Current Liabilities 4,072,018 391,496 442,573 4,906,087 1,771,780 Noncurrent Liabilities Long-Term Debt Claims Payable ----717,866 Long-Term Liabilities Due in More Than One Year 2,798,298 66,979 25,465 2,890,742 - Total Noncurrent Liabilities 2,798,298 66,979 25,465 2,890,742 717,866 Total Liabilities 6,870,316 458,475 468,038 7,796,829 2,489,646 DEFERRED INFLOWS OF RESOURCES Deferred Inflows Related to Pensions 1,211,907 262,128 -1,474,035 - Deferred Inflows Related to OPEB 25,521 4,585 1,675 31,781 - Total Deferred Inflows of Resources 1,237,428 266,713 1,675 1,505,816 - NET POSITION Net Investment in Capital Assets 39,137,700 18,300,082 2,888,219 60,326,001 - Restricted for Employee Retirement 214,024 46,292 -260,316 - Unrestricted 9,249,195 2,764,013 4,323,653 16,336,861 19,799,931 TOTAL NET POSITION $48,600,919 $21,110,387 $7,211,872 $76,923,178 $19,799,931 See accompanying notes to financial statements. 29 VILLAGE OF GLENVIEW STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION PROPRIETARY FUNDS For the Year Ended December 31, 2021 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 $16,889,290 $2,618,731 $6,137,202 $25,645,223 $13,188,435 Miscellaneous 369,143 82,755 217,139 669,037 125,584 Total Operating Revenues 17,258,433 2,701,486 6,354,341 26,314,260 13,314,019 OPERATING EXPENSES Insurance Services ----8,233,920 Parking Services --544,995 544,995 - Water Services 12,460,724 -2,921,069 15,381,793 - Sewerage Services -1,731,900 -1,731,900 - Capital Asset Repair and Replacement ----3,184,991 Depreciation and Amortization 1,461,022 531,404 155,208 2,147,634 - Total Operating Expenses 13,921,746 2,263,304 3,621,272 19,806,322 11,418,911 Operating Income 3,336,687 438,182 2,733,069 6,507,938 1,895,108 NONOPERATING REVENUES (EXPENSES) Other Income -12,667 -12,667 - Investment Income (Loss)2,360 (3,125)(638)(1,403)472,684 Gain on Sale of Capital Assets ----32,299 Reassignment of Capital Assets ----(2,520,239) Interest and Fiscal Charges (80,521)(9,119)-(89,640)- Total Nonoperating Revenues (Expenses)(78,161)423 (638)(78,376)(2,015,256) Income Before Contributions and Transfers 3,258,526 438,605 2,732,431 6,429,562 (120,148) CONTRIBUTIONS AND TRANSFERS Transfers In 720,139 --720,139 - Transfers Out -(103,139)(1,532,215)(1,635,354)(250,000) Total Contributions and Transfers 720,139 (103,139)(1,532,215)(915,215)(250,000) Change in Net Position 3,978,665 335,466 1,200,216 5,514,347 (370,148) NET POSITION - Beginning of Year 44,622,254 20,774,921 6,011,656 71,408,831 20,170,079 NET POSITION - END OF YEAR $48,600,919 $21,110,387 $7,211,872 $76,923,178 $19,799,931 See accompanying notes to financial statements. 30 VILLAGE OF GLENVIEW STATEMENT OF CASH FLOWS PROPRIETARY FUNDS For the Year Ended December 31, 2021 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 $17,151,289 $2,602,613 $6,482,474 $26,236,376 $13,187,454 Paid to Suppliers for Goods and Services (9,971,692)(1,136,807)(3,192,062)(14,300,561)(11,049,606) Paid to Employees for Services (3,064,139)(526,749)(203,840)(3,794,728)(1,065,883) Received from Other Sources 1,439,438 95,422 -1,534,860 - Net Cash Flows From Operating Activities 5,554,896 1,034,479 3,086,572 9,675,947 1,071,965 CASH FLOWS FROM INVESTING ACTIVITIES Investment Income 27,879 3,297 (8,278)22,898 505,889 Sale of Investments 722,200 246,000 -968,200 2,898,223 Purchase of Investments --(981,112)(981,112)(5,889,704) Net Cash Flows From Investing Activities 750,079 249,297 (989,390)9,986 (2,485,592) CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Transfers In 720,139 --720,139 - Transfers Out -(103,139)(1,532,215)(1,635,354)(250,000) Net Cash Flows From Noncapital Financing Activities 720,139 (103,139)(1,532,215)(915,215)(250,000) CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Debt Retired (1,031,392)--(1,031,392)- Interest Paid (82,068)(9,119)-(91,187)- Proceeds from the Sale of Capital Assets ----32,299 Acquisition and Construction of Capital Assets (2,152,229)(229,610)(85,010)(2,466,849)(2,466,256) Net Cash Flows From Capital and Related Financing Activities (3,265,689)(238,729)(85,010)(3,589,428)(2,433,957) Net Change in Cash and Cash Equivalents 3,759,425 941,908 479,957 5,181,290 (4,097,584) CASH AND CASH EQUIVALENTS - Beginning of Year 6,726,730 1,745,064 2,437,928 10,909,722 16,779,459 CASH AND CASH EQUIVALENTS - END OF YEAR $10,486,155 $2,686,972 $2,917,885 $16,091,012 $12,681,875 See accompanying notes to financial statements. 31 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 $3,336,687 $438,182 $2,733,069 $6,507,938 $1,895,108 Adjustments to Reconcile Operating Income to Net Cash Flows From Operating Activities Depreciation and Amortization 1,461,022 531,404 155,208 2,147,634 - Other Income -12,667 -12,667 - Changes in assets and liabilities Accounts Receivable (63,981)(15,879)128,133 48,273 (107,882) Inventory 14,257 --14,257 (17,142) Due from Other Funds 239 (239)--- Deposits ----3,156 Prepaid Items ----(992,691) Accounts Payable (282,365)152,398 172,180 42,213 297,411 Customer Deposits (3,725)--(3,725)- Claims Payable ----813 Accrued Salaries 20,618 3,472 1,060 25,150 5,348 Compensated absences 4,839 (2,106)(948)1,785 - Accrued Expenses -6,474 (102,724)(96,250)15,345 Due to Other Funds ----(5,662) Unearned Revenue 1,400,000 --1,400,000 (21,839) Deferred Outflows Due to Pensions 82,260 (15,979)-66,281 - Deferred Inflows Due to Pensions 551,508 125,771 -677,279 - Net Pension Liability (970,700)(202,528)-(1,173,228)- Total OPEB Liability 2,594 559 533 3,686 - Deferred Outflows Due to OPEB 6,055 1,064 308 7,427 - Deferred Inflows Due to OPEB (4,412)(781)(247)(5,440)- NET CASH FLOWS FROM OPERATING ACTIVITIES $5,554,896 $1,034,479 $3,086,572 $9,675,947 $1,071,965 NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES None See accompanying notes to financial statements. 32 VILLAGE OF GLENVIEW STATEMENT OF FIDUCIARY NET POSITION FIDUCIARY FUNDS As of December 31, 2021 Pension Trust Funds Custodial Funds ASSETS Cash and Cash Equivalents $5,686,849 $1,502,489 Investments U.S. Treasuries 8,664,686 - U.S. Agencies 30,905,643 - Mutual Funds 138,741,495 - Corporate Obligations 27,303,995 - Municipal Obligations 7,137,521 - Negotiable Certificates of Deposit 1,053,347 - Receivables Taxes -356,378 Accrued Interest 444,044 - Due from Primary Government 109,318 - Prepaid Items 16,409 - Total Assets 220,063,307 1,858,867 LIABILITIES Accrued Expenses 29,665 373 Due to Members -1,321,541 Due to Primary Government -55 Advances from Primary Government -293,369 Total Liabilities 29,665 1,615,338 DEFERRED INFLOWS OF RESOURCES Property Taxes Levied for Future Periods -356,378 Total Deferred Inflows of Resources -356,378 NET POSITION Restricted for Pension Benefits 220,033,642 - Unrestricted (Deficit)-(112,849) TOTAL NET POSITION $220,033,642 $(112,849) See accompanying notes to financial statements. 33 VILLAGE OF GLENVIEW STATEMENT OF CHANGES IN FIDUCIARY NET POSITION FIDUCIARY FUNDS For the Year Ended December 31, 2021 Pension Trust Funds Custodial Funds ADDITIONS Contributions Employer $9,469,390 $- Participant 2,277,266 - Total Contributions 11,746,656 - Investment income Net Appreciation in Fair Value of Investments 13,137,057 - Interest Income 10,056,486 5,008 Total Investment Income 23,193,543 5,008 Less Investment Expense 336,551 - Net Investment Income 22,856,992 5,008 Property Taxes -356,292 911 Surcharge -4,494,113 Total Additions 34,603,648 4,855,413 DEDUCTIONS Retirement Pensions 12,387,388 - Widow Pensions 814,562 - Disability Pensions 763,512 - Children's Pensions 48,270 - Contribution Refunds 26,700 - Administration 164,035 - Remittance of Principal to Bondholders -165,355 Remittance of Interest to Bondholders -63,611 Distributions to Primary Government -1,025,507 Distributions to Members -3,472,648 Miscellaneous -110,836 Total Deductions 14,204,467 4,837,957 Change in Fiduciary Net Position 20,399,181 17,456 NET POSITION - Beginning of Year 199,634,461 (130,305) NET POSITION - END OF YEAR $220,033,642 $(112,849) See accompanying notes to financial statements. 34 VILLAGE OF GLENVIEW INDEX TO NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 NOTE Page I Summary of Significant Accounting Policies 36 A.Reporting Entity 36 B.Government-Wide and Fund Financial Statements 38 C.Measurement Focus, Basis of Accounting, and Financial Statement Presentation 41 D.Assets, Deferred Outflows of Resources, Liabilities, Deferred Inflows of Resources, and Net Position or Equity 42 1.Deposits and Investments 42 2.Receivables 46 3.Inventories and Prepaid Items 47 4.Capital Assets 47 5.Deferred Outflows of Resources 48 6.Compensated Absences 49 7.Long-Term Obligations 49 8.Deferred Inflows of Resources 49 9. Equity Classifications 50 II Stewardship, Compliance, and Accountability 52 A.Excess Expenditures/Expenses/Deductions Over Budget 52 B.Deficit Balances 52 III Detailed Notes on All Funds 53 A.Deposits and Investments 53 B.Receivables 58 C.Capital Assets 59 D.Interfund Receivables/Payables and Transfers 61 E.Long-Term Obligations 63 F.Lease Disclosures 66 G.Component Unit 67 IV Other Information 71 A.Employees' Retirement System 71 B.Risk Management 87 C.Commitments and Contingencies 89 D.Joint Ventures 89 E.Other Postemployment Benefits 90 F.Subsequent Event 93 G.Tax Abatement 94 H.Effect of New Accounting Standards on Current-Period Financial Statements 95 See accompanying notes to financial statements. 35 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 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 three methods: discrete presentation, blended, or fiduciary. 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. 36 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (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 is considered a discretely presented component unit. The information presented is for the fiscal year ended December 31, 2021. The Library does not issue separate financial statements. Fiduciary Component Units 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. A municipality is considered to have a financial burden if it is legally obligated or has otherwise assumed the obligation to make contributions to the pension plan. 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. PPERS is reported as a fiduciary component unit pension trust fund and the data for the pension is included in the government's fiduciary fund financial statements as a pension trust fund. 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. A municipality is considered to have a financial burden if it is legally obligated or has otherwise assumed the obligation to make contributions to the pension plan. 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. FPERS is reported as a fiduciary component unit and the data for the pension is included in the government's fiduciary fund financial statements as a pension trust fund. No separate annual financial report is issued for the FPERS. 37 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) B.GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS Government-Wide Financial Statements The statement of net position and statement of activities display information about the reporting government as a whole. They include all funds of the reporting entity except for fiduciary funds.The statements distinguish between governmental and business-type activities. Governmental activities generally are financed through taxes, intergovernmental revenues, and other nonexchange revenues. Business-type activities are financed in whole or in part by fees charged to external parties for goods or services. Likewise, the primary government is reported separately from certain legally separate component units for which the primary government is financially accountable. The statement of activities demonstrates the degree to which the direct expenses of a given function or segment are offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. The Village does not allocate indirect expenses to functions in the statement of activities. Program revenues include 1) charges to customers or applicants who purchase, use or directly benefit from goods, services, or privileges provided by a given function or segment, and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Taxes and other items not included among program revenues are reported as general revenues. Internally dedicated resources are reported as general revenues rather than as program revenues. Fund Financial Statements Financial statements of the Village are organized into funds, each of which is considered to be a separate accounting entity. Each fund is accounted for by providing a separate set of self-balancing accounts, which constitute its assets, deferred outflows of resources, liabilities, deferred inflows of resources, net position/fund balance, revenues, and expenditures/expenses. Funds are organized as major funds or nonmajor funds within the governmental and proprietary statements. An emphasis is placed on major funds within the governmental and proprietary categories. A fund is considered major if it is the primary operating fund of the Village or meets the following criteria: a. Total assets/deferred outflows of resources, liabilities/deferred inflows of resources, revenues, or expenditures/expenses of that individual governmental or enterprise fund are at least 10% of the corresponding total for all funds of that category or type, and b. The same element of the individual governmental or enterprise fund that met the 10% test is at least 5% of the corresponding total for all governmental and enterprise funds combined. c. In addition, any other governmental or enterprise fund that the Village believes is particularly important to financial statement users may be reported as a major fund. Separate financial statements are provided for governmental funds, proprietary funds and fiduciary funds, even though the latter are excluded from the government-wide financial statements. Major individual governmental funds and major individual enterprise funds are reported as separate columns in the fund financial statements. 38 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) B.GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS (cont.) Fund Financial Statements (cont.) The Village reports the following major 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. Capital Projects Fund - used to account for revenues and expenditures involved with improvements throughout the Village which are not included in other capital projects funds. 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. 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 39 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 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 non-major governmental and enterprise funds: (cont.) 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 Fund - 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. 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 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 40 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) B.GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS (cont.) Fund Financial Statements (cont.) Custodial Funds - used to account for and report assets controlled by the Village and the assets are for the benefit of individuals, private organizations, and/or other governmental units. Special Service Area (SSA) Bond 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. 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. 41 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) C.MEASUREMENT FOCUS, BASIS OF ACCOUNTING, AND FINANCIAL STATEMENT PRESENTATION (cont.) Fund Financial Statements (cont.) 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 are reported using the economic resources measurement focus and the accrual basis of accounting, as described previously in this note. The proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with a proprietary fund's principal ongoing operations. The principal operating revenues of the proprietary funds are charges to customers for sales and services. Special assessments are recorded as receivables and contribution revenue when levied. Operating expenses for proprietary funds include the cost of sales and services, administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses. All Financial Statements The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets, deferred outflows of resources, liabilities, and deferred inflows of resources and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenditures/expenses during the reporting period. Actual results could differ from those estimates. D.ASSETS, DEFERRED OUTFLOWS OF RESOURCES, LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND NET POSITION OR EQUITY 1.Deposits and Investments For purposes of the statement of cash flows, the Village considers all highly liquid investments with an initial maturity of three months or less when acquired to be cash equivalents. The Village, Police Pension Fund, and Firefighters' Pension Fund have adopted investment policies. The policies follow the state statute for allowable investments. The Village maintains a cash and investment pool that is available for use by most funds. Each fund's portion of this pool is displayed on the balance sheet/statement of net position as "cash and cash equivalents" and "investments." In addition, investments are separately held by several of the Village's funds. The Village's investment policy and state statutes allow the Village to invest in the following: a)Interest-bearing accounts of banks and savings and loan associations insured by the Federal Deposit Insurance Corporation. b)Obligations of the U.S. Treasury and U.S. agencies. - Insured accounts of an Illinois credit union chartered under United States or Illinois law. 42 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 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.) 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: h)Bonds issued by any county, city, township, village, incorporated town, municipal corporation, or school district in Illinois. i)Direct obligations of the State of Israel. j)Separate accounts of Illinois-licensed insurance companies. k)Common and preferred stock. The Police Pension Fund’s investment policy establishes the following target allocation across asset classes: Asset Class Target Allocation Long-Term Expected Real Rate of Return Cash 1.50%0.85% US Large Cap 34.10%6.95% US Mid Cap 4.50%7.45% US Small Cap 7.10%7.35% International Equities 13.80%6.05% Fixed Income 33.30%1.75% Alternatives 5.70%4.45% 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. 43 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 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 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%8.00%2.20%5.80% Small Cap Domestic Equity 12.00%9.80%2.20%7.60% International Equity 6.00%9.30%2.20%7.10% Fixed Income 40.00%3.60%2.20%1.40% 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. 44 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) D.ASSETS, DEFERRED OUTFLOWS OF RESOURCES, LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND NET POSITION OR EQUITY (cont.) 1.Deposits and Investments (cont.) Credit Risk The Village limits its exposure to credit risk, by investing mainly in external investment pools. The Police Pension Fund's and Firefighters' Pension Fund's general investment policies follow the prudent person rule subject to the specific restrictions of the Illinois Pension Code and the Police Pension Fund's and Firefighters' Pension Fund's asset allocation policy. Under the prudent person rule, investments shall be made with the care, skill, prudence and diligence under the circumstances then prevailing that a prudent person acting in like capacity and familiar with such matters would use in the investment of a fund or like character and with like aims. Concentration of Credit Risk It is the policy of the Village to diversify its investment portfolio. Investments shall be diversified to eliminate the risk of loss resulting in an overconcentration in a security, maturity, issuer, or class of securities. The Police Pension Fund's and Firefighters' Pension Fund's investment policies require diversification of investment to avoid unreasonable risk. Custodial Credit Risk - Deposits The Village’s investment policy requires that deposits that exceed the amount insured by the FDIC insurance protection be secured by some form of collateral at the rate of 110% of such deposits by U.S. Government Securities, obligations of Federal instrumentalities, obligations of the State of Illinois, or general obligation municipal bonds rated “AA” or better. Custodial Credit Risk - Investments To limit its exposure, the Village's investment policy requires all investments to be limited to the safest types of securities invested with pre-qualified institutions, broker/dealers, intermediaries, and advisors, soundly diversified and held by a third-party custodian. The Police Pension Fund’s investment policy requires all securities that are exposed to custodial credit risk to be held by a third-party custodian. The Firefighters’ Pension Fund’s investment policy requires all investments to be limited to the safest types of securities invested with pre-qualified institutions, broker/dealers, intermediaries, and advisors, soundly diversified and held by a third-party custodian. 45 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) D.ASSETS, DEFERRED OUTFLOWS OF RESOURCES, LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND NET POSITION OR EQUITY (cont.) 1.Deposits and Investments (cont.) Investments are stated at fair value, which is the amount at which an investment could be exchanged in a current transaction between willing parties. Fair values are based on methods and inputs as outlined in Note III. A. Short-term investments are reported at amortized cost, which approximates fair value. Securities traded on a national or international exchange are valued at the last reported sales price at current exchange rates. Fair value for the majority of fixed income securities is determined by using quoted market prices by independent pricing services. Illinois Funds is an investment pool managed by the State of Illinois, Office of the Treasurer, which allows governments within the State to pool their funds for investment purposes. Illinois Funds is not registered with the SEC as an investment company, but does operate in a manner consistent with Rule 2a7 of the Investment Company Act of 1940. Investments in Illinois Funds are valued at Illinois Fund’s share price, the price for which the investments could be sold. See Note III. A. for further information. 2.Receivables Property taxes for levy year 2021 attaches as an enforceable lien on January 1, 2021, 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 2021 tax levy, which attached as an enforceable lien on the property as of January 1, 2021, has been recorded as a receivable as of December 31, 2021, as the tax was levied by the Village on December 7, 2021, and therefore, the levy is measurable at December 31, 2021. Tax bills for levy year 2021 are prepared by Cook County and issued on or about February 1, 2022 and July 1, 2022, and are payable in two installments, on or about March 1, 2022 and August 1, 2022 or within 30 days of the tax bills being issued. The county collects such taxes and remits them periodically. The 2021 property tax levy is recognized as a receivable and deferred inflows in fiscal 2021, net the allowance for uncollectible. As the taxes become available to finance current expenditures, they are recognized as revenues. At December 31, 2021, the property taxes receivable and related deferred inflows consisted of the estimated amount collectible from the 2021 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. 46 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) D.ASSETS, DEFERRED OUTFLOWS OF RESOURCES, LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND NET POSITION OR EQUITY (cont.) 2.Receivables (cont.) In the governmental fund financial statements, advances to other funds are offset equally by a nonspendable fund balance account which indicates that they do not constitute expendable available financial resources and, therefore, are not available for appropriation or by a restricted fund balance account, if the funds will ultimately be restricted when the advance is repaid. 3.Inventories and Prepaid Items Governmental fund inventories, if material, are recorded at cost based on the FIFO method using the consumption method of accounting. Proprietary fund inventories are generally used for construction and/or for operation and maintenance work. They are not for resale. They are valued at cost based on average cost, and charged to construction and/or operation and maintenance expense when used. Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid items in both government-wide and fund financial statements using the consumption method. 4.Capital Assets Government-Wide Statements Capital assets, which include property, buildings, vehicles, equipment, and infrastructure assets (e.g. roads, bridges, and similar items). Capital assets are defined by the government as assets with an initial cost of more than $25,000, and an estimated useful life in excess of 1 year. Additionally, the Library reports its collection of books and materials as a capital asset. All capital assets are valued at historical cost, or estimated historical cost if actual amounts are unavailable. Donated capital assets and service concession arrangements 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. 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. 47 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) D.ASSETS, DEFERRED OUTFLOWS OF RESOURCES, LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND NET POSITION OR EQUITY (cont.) 4.Capital Assets (cont.) Government-Wide Statements (cont.) Depreciation and amortization of all exhaustible capital assets is recorded as an allocated expense in the statement of activities, with accumulated depreciation and amortization reflected in the statement of net position. Depreciation and amortization is provided over the assets' estimated useful lives using the straight-line method. The range of estimated useful lives by type of asset is as follows: Land improvements 25 -50 Years Bridges 50 Years Buildings and improvements 10 - 50 Years Infrastructure*25 - 60 Years Stormsewer system 40 Years Water mains 50 Years Sanitary mains 50 Years Machinery and equipment, and vehicles 4 - 30 Years Library books and materials 7 Years * Infrastructure includes roads, curbs, gutters, recreational paths, street lights, field lights, and traffic control signals. Fund Financial Statements In the fund financial statements, capital assets used in governmental fund operations are accounted for as capital outlay expenditures of the governmental fund upon acquisition. Capital assets used in proprietary fund operations are accounted for the same way as in the government-wide statements. 5. Deferred Outflows of Resources A deferred outflow of resources represents a consumption of net assets that applies to future periods 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. 48 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) D.ASSETS, DEFERRED OUTFLOWS OF RESOURCES, LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND NET POSITION OR EQUITY (cont.) 6.Compensated Absences Compensated absences include accumulated vacation and compensatory time as employees are not paid for sick time in the event of termination. Employees are required to use one-half of the vacation days they earn each year or they lose it and the remaining days can be used, saved, or carried over into the next year in the employee's vacation "bank". Employees may not accumulate more than 30 days' worth of unused vacation time in their vacation "bank". Employees are allowed to accumulate compensatory time to a maximum amount at year end 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. 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 represent an acquisition of net assets that applies to future periods and therefore will not be recognized as an inflow of resources (revenue) until that future time. 49 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) D.ASSETS, DEFERRED OUTFLOWS OF RESOURCES, LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND NET POSITION OR EQUITY (cont.) 9. Equity Classifications Government-Wide Statements Equity is classified as net position and displayed in three components: a. Net investment in capital assets - Consists of capital assets including restricted capital assets, net of accumulated depreciation and reduced by the outstanding balances (excluding unspent debt proceeds) of any bonds, mortgages, notes, or other borrowings that are attributable to the acquisition, construction, or improvement of those assets. b. Restricted net position - Consists of net position with constraints placed on their use either by 1) external groups such as creditors, grantors, contributors, or laws or regulations of other governments or, 2) law through constitutional provisions or enabling legislation. c. Unrestricted net position - All other net positions that do not meet the definitions of "restricted" or "net investment in capital assets." The Village generally applies restricted resources first when an expense is incurred for purposes for which both restricted and unrestricted net resources are available. See additional information in the following section. Fund Statements Governmental fund balances are displayed as follows: a. Nonspendable - Includes fund balance amounts that cannot be spent either because they are not in spendable form or because legal or contractual requirements require them to be maintained intact. b. Restricted - Consists of fund balances with constraints placed on their use either by 1) external groups such as creditors, grantors, contributors, or laws or regulations of other governments or 2) law through constitutional provisions or enabling legislation. c. Committed - Includes fund balance amounts that are constrained for specific purposes that are internally imposed by the government through formal action of the highest level of decision making authority (the Board of Trustees). Fund balance amounts are committed through a formal action (resolution) of the Village Board. This formal action must occur prior to the end of the reporting period, but the amount of the commitment, which will be subject to the constraints, may be determined in the subsequent period. Any changes to the constraints imposed require the same formal action of the Village Board that originally created the commitment. 50 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 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 Fund Statements (cont.) d. Assigned - Includes spendable fund balance amounts that are intended to be used for specific purposes that do not meet the criteria to be classified as restricted or committed. The Village Board has, by resolution, adopted a financial policy authorizing the Village Manager to assign amounts for a specific purpose. In governmental funds other than the General Fund, resources are assigned in accordance with the established fund purpose and approved budget or appropriation. Residual fund balances in these fund types that are not restricted or committed are reported as assigned. Assignments may take place after the end of the reporting period. e. Unassigned - Includes residual positive fund balance within the General Fund which has not been classified within the other above mentioned categories. Unassigned fund balance may also include negative balances for any governmental fund if expenditures exceed amounts restricted, committed, or assigned for those purposes. Proprietary fund equity is classified the same as in the government-wide statements. In the General Fund, the Village considers restricted amounts to have been spent first when expenditure is incurred for purposes for which both restricted and unrestricted fund balance is available, followed by committed amounts, and then assigned amounts. Unassigned amounts are used only after the other categories of fund balance have been fully utilized. In governmental funds other than the General Fund, the Village considers restricted amounts to have been spent last. 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. Fiduciary fund net position is classified as restricted for pension benefits and members on the statement of fiduciary net position. 51 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 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 $29,607,131 $33,032,348 $3,425,217 Foreign Fire Insurance 114,143 117,247 3,104 Police Pension 5,659,900 6,251,254 591,354 Fire Pension 7,119,069 7,953,213 834,144 Library Special Reserve 172,137 180,756 8,619 B.DEFICIT BALANCES Generally accepted accounting principles require disclosure of individual funds that have deficit balances at year end. As of December 31, 2021, the following individual funds held a deficit balance: Fund Amount Reason Special Service Area (SSA) Bond $112,849 This deficit balance was anticipated as future property taxes will be levied to fund past construction projects relating to special assessments. 52 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 NOTE III - DETAILED NOTES ON ALL FUNDS A.DEPOSITS AND INVESTMENTS The Village's, Police Pension Fund's, Firefighters' Pension Fund's and Custodial Funds' deposits and investments at year end were comprised of the following: Carrying Value Statement Balances Deposits $40,834,116 $41,476,775 Certificate of deposit 249,000 249,000 Certificates of deposits - negotiable 1,053,347 1,055,347 The Illinois Funds 88,437,298 88,409,950 U.S. treasuries 33,752,664 33,752,664 U.S. agencies 30,905,643 30,905,643 Municipal obligations 7,137,521 7,137,521 Corporate obligations 27,303,995 27,303,995 Mutual funds 138,741,495 138,741,494 Petty cash 3,170 - Total Deposits and Investments $368,418,249 $369,032,389 Reconciliation to financial statements Per statement of net position Cash and cash equivalents $122,085,246 Investments 25,336,978 Per statement of net position - fiduciary funds Cash and cash equivalents - Pension Trusts 5,686,849 Cash and cash equivalents - Custodial Funds 1,502,489 U.S. treasuries 8,664,686 U.S. agencies 30,905,643 Mutual funds 138,741,495 Corporate obligations 27,303,995 Municipal obligations 7,137,521 Negotiable certificates of deposit 1,053,347 Total Deposits and Investments $368,418,249 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. 53 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 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, 2021, investments were measured using valuation inputs as follows: Village December 31, 2021 Investment Type Level 1 Level 2 Level 3 Total U.S. treasuries $25,087,978 $-$-$25,087,978 Total $25,087,978 $-$-$25,087,978 Police Pension Fund December 31, 2021 Investment Type Level 1 Level 2 Level 3 Total U.S. treasuries $4,716,342 $-$-$4,716,342 U.S. agencies -5,411,229 -5,411,229 Municipal obligations -566,532 -566,532 Corporate obligations -20,792,517 -20,792,517 Mutual funds 66,218,152 --66,218,152 Total $70,934,494 $26,770,278 $-$97,704,772 Firefighters' Pension Fund December 31, 2021 Investment Type Level 1 Level 2 Level 3 Total U.S. treasuries $3,948,344 $-$-$3,948,344 U.S. agencies -25,494,414 -25,494,414 Municipal obligations -6,570,989 -6,570,989 Corporate obligations -6,511,478 -6,511,478 Mutual funds 72,523,343 --72,523,343 Negotiable certificates of deposit -1,053,347 -1,053,347 Total $76,471,687 $39,630,228 $-$116,101,915 54 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 NOTE III - DETAILED NOTES ON ALL FUNDS (cont.) A.DEPOSITS AND INVESTMENTS (cont.) 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, 2021, the Village's, Police Pension Fund, Firefighters' Pension Fund and Custodial Fund investments were rated as follows: Standard & Poor's Investment Type Fair Value AAA AA A BBB B Not Rated Negotiable certificates of deposit $1,053,347 $-$-$-$-$-$1,053,347 The Illinois Funds 88,437,298 88,437,298 ----- U.S. agencies 30,905,643 -29,123,315 ---1,782,328 Municipal obligations 7,137,521 551,103 4,891,540 111,022 --1,583,856 Corporate obligations 27,303,995 670,639 3,472,051 11,803,307 11,135,678 108,719 113,601 Totals $154,837,804 $89,659,040 $37,486,906 $11,914,329 $11,135,678 $108,719 $4,533,132 Moody's Investors Services Investment Type Fair Value Aaa Aa A Baa Not Rated Negotiable certificates of deposit $1,053,347 $-$-$-$-$1,053,347 The Illinois Funds 88,437,298 ----88,437,298 U.S. agencies 30,905,643 29,279,677 ---1,625,966 Municipal obligations 7,137,521 122,930 1,746,962 610,985 -4,656,644 Corporate obligations 27,303,995 1,216,952 3,072,284 11,601,924 10,973,381 439,454 Totals $154,837,804 $30,619,559 $4,819,246 $12,212,909 $10,973,381 $96,212,709 55 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 NOTE III - DETAILED NOTES ON ALL FUNDS (cont.) A.DEPOSITS AND INVESTMENTS (cont.) 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 Village does not have any investments exposed to concentration of credit risk. 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, 2021, investments were as follows: Village Maturity (in Years) Investment Type Fair Value Less Than 1 1-5 U.S. treasuries $25,087,978 $19,635,097 $5,452,881 Totals $25,087,978 $19,635,097 $5,452,881 Police Pension Fund Maturity (in Years) Investment Type Fair Value Less Than 1 1-5 6-10 Greater Than 10 U.S. treasuries $4,716,342 $-$2,039,631 $2,676,711 $- U.S. agencies 5,411,229 1,205,238 3,005,797 316,330 883,864 Municipal obligations 566,532 144,890 137,168 231,393 53,081 Corporate obligations 20,792,517 2,344,485 10,593,825 7,772,443 81,764 Totals $31,486,620 $3,694,613 $15,776,421 $10,996,877 $1,018,709 56 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 NOTE III - DETAILED NOTES ON ALL FUNDS (cont.) A.DEPOSITS AND INVESTMENTS (cont.) Interest Rate Risk (cont.) Firefighters' Pension Fund Maturity (in Years) Investment Type Fair Value Less Than 1 1-5 6-10 Greater Than 10 U.S. treasuries $3,948,344 $1,205,359 $2,493,258 $249,727 $- U.S. agencies 25,494,414 402,279 8,015,527 17,076,608 - Municipal obligations 6,570,989 609,163 2,374,150 3,285,966 301,710 Negotiable certificates of deposit 1,053,347 -672,472 380,875 - Corporate obligations 6,511,478 -2,077,354 4,434,124 - Totals $43,578,572 $2,216,801 $15,632,761 $25,427,300 $301,710 Money-Weighted Rate of Return Police Pension Fund For the year ended December 31, 2021, the annual money-weighted rate of return on the Police Pension plan investments, net of pension plan investment expense, was 11.54%. 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, 2021, the annual money-weighted rate of return on the Firefighters' Pension plan investments, net of pension plan investment expense, was 11.70%. 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. 57 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 NOTE III - DETAILED NOTES ON ALL FUNDS (cont.) B.RECEIVABLES The following receivables are included in Receivables - Taxes on the Governmental Funds Balance Sheet: General Fund Taxes Receivable Property $15,667,450 Sales 8,764,890 Utility 610,510 Income 663,616 Use 545,078 Franchise 221,874 Hotel 61,471 Cannabis 13,648 Gross receivables 26,548,537 Less: Allowance for uncollectibles (504,287) Net Total Receivables $26,044,250 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. 58 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 NOTE III - DETAILED NOTES ON ALL FUNDS (cont.) C.CAPITAL ASSETS Capital asset activity for the year ended December 31, 2021, was as follows: Beginning Balance Additions Deletions Ending Balance Governmental Activities Capital assets not being depreciated Land $26,041,796 $-$-$26,041,796 Land right of way 55,281,951 --55,281,951 Total Capital Assets Not Being Depreciated 81,323,747 --81,323,747 Capital assets being depreciated Buildings and improvements 97,500,345 1,855,468 -99,355,813 Machinery and equipment 21,108,603 1,950,233 345,864 22,712,972 Infrastructure 176,682,709 3,617,454 461,923 179,838,240 Total Capital Assets Being Depreciated 295,291,657 7,423,155 807,787 301,907,025 Total Capital Assets 376,615,404 7,423,155 807,787 383,230,772 Less: Accumulated depreciation for Buildings and improvements (31,660,926)(2,261,266)-(33,922,192) Machinery and equipment (15,371,704)(1,225,805)(278,386)(16,319,123) Infrastructure (84,514,620)(4,067,216)(461,923)(88,119,913) Total Accumulated Depreciation (131,547,250)(7,554,287)(740,309)(138,361,228) Net Capital Assets Being Depreciated 163,744,407 (131,132)67,478 163,545,797 Total Governmental Activities Capital Assets, Net $245,068,154 $(131,132)$67,478 $244,869,544 Depreciation expense was charged to functions as follows: Governmental Activities General government $4,546,355 Public safety 1,274,758 Public works 1,299,903 Development 433,271 Total Governmental Activities Depreciation Expense $7,554,287 59 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 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 3,233,575 --3,233,575 Water system 66,206,403 2,466,997 537,494 68,135,906 Sanitary sewer system 27,007,797 252,930 5,195 27,255,532 Equipment and vehicles 4,962,524 --4,962,524 Total Capital Assets Being Depreciated 101,410,300 2,719,927 542,689 103,587,537 Total Capital Assets 101,978,151 2,719,927 542,689 104,155,388 Less: Accumulated depreciation for Buildings and improvements (1,403,232)(95,851)-(1,499,083) Water system (24,305,559)(1,386,545)(537,494)(25,154,610) Sanitary sewer system (8,429,238)(531,404)(5,195)(8,955,447) Equipment and vehicles (4,538,972)(133,834)-(4,672,806) Total Accumulated Depreciation (38,677,001)(2,147,634)(542,689)(40,281,946) Net Capital Assets Being Depreciated 62,733,299 572,293 -63,305,591 Total Business-type Capital Assets, Net $63,301,150 $572,293 $-$63,873,442 Business-type Activities Depreciation expense was charged to functions as follows: Business-type Activities Glenview Water Fund $1,461,022 Glenview Sanitary Sewer Fund 531,404 Wholesale Water Fund 62,816 Commuter Parking Fund 92,392 Total Business-type Activities Depreciation Expense $2,147,634 60 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 NOTE III - DETAILED NOTES ON ALL FUNDS (cont.) D.INTERFUND RECEIVABLES/PAYABLES 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 Nonmajor Governmental $146 Nonmajor Governmental General 7,845 Total - Fund Financial Statements 7,991 Less: Government-wide eliminations (7,991) Total Internal Balances - Government-Wide Statement of Net Position $- All amounts are due within one year. 61 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 NOTE III - DETAILED NOTES ON ALL FUNDS (cont.) D.INTERFUND RECEIVABLES/PAYABLES AND TRANSFERS (cont.) Transfers The following is a schedule of interfund transfers: Fund Transferred To Fund Transferred From Amount Principal Purpose Special Tax Allocation Nonmajor Governmental $104,290 Transfer to close out the Glen Capital Projects Fund General Nonmajor Enterprise 325,000 Transfer to recover overhead costs associated with running the Wholesale Water Fund General Internal Service 250,000 Transfer to fund a portion of the cost of operations in the General Fund Nonmajor Governmental General 2,229,847 Transfer to move property tax revenue to the appropriate fund and to pay debt. Capital Projects General 6,500,000 Transfer to support the Capital Improvements Program Capital Projects Nonmajor Enterprise 590,215 Transfer of return on investment that is used to improve public roadways Glenview Water Nonmajor Enterprise 617,000 Transfer of funds for payment of engineering services Glenview Water Glenview Sanitary Sewer 103,139 Transfer to fund a portion of the AMI debt payment Total - Fund Financial Statements 10,719,491 Less: Fund eliminations (9,804,276) Total Transfers - Government-Wide Statement of Activities $915,215 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. 62 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 NOTE III - DETAILED NOTES ON ALL FUNDS (cont.) E.LONG-TERM OBLIGATIONS Long-term obligations activity for the year ended December 31, 2021, was as follows: Beginning Balance Increases Decreases Ending Balance Amounts Due Within One Year Governmental Activities Bonds and Loans Payable General obligation debt $19,090,000 $-$8,660,000 $10,430,000 $2,545,000 Loans payable 255,889 -24,371 231,518 24,371 (Discounts)/Premiums Bond discount (4,196)-(1,049)(3,147)- Bond premium 1,245,692 -332,702 912,990 - Other Liabilities Compensated absences 1,526,543 990,192 1,144,907 1,371,828 274,366 Total OPEB liability 12,397,598 1,162,339 576,290 12,983,647 - Net pension liability 73,722,473 15,641,062 31,694,968 57,668,567 - Claims payable 1,195,631 595,078 594,265 1,196,444 478,578 Total Governmental Activities Long-Term Liabilities $109,429,630 $18,388,671 $43,026,454 $84,791,847 $3,322,315 Business-type Activities Notes Payable Notes payable $4,578,833 $-$1,031,392 $3,547,441 $1,125,155 Other Liabilities Compensated absences 179,307 136,265 134,480 181,092 36,218 Total OPEB liability 319,896 18,048 14,362 323,582 - Net pension liability 912,912 1,455,241 2,368,153 -- Total Business-type Activities Long-Term Liabilities $5,990,948 $1,609,554 $3,548,387 $4,052,115 $1,161,373 63 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 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, 2021 $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%$5,045,000 $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%4,045,000 $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%1,340,000 Total Governmental Activities - General Obligation Debt $10,430,000 Debt service requirements to maturity are as follows: Governmental Activities General Obligation Debt Years Principal Interest 2022 $2,545,000 $378,582 2023 2,655,000 284,532 2024 2,045,000 184,582 2025 305,000 123,232 2026 315,000 113,626 2027-2031 1,760,000 377,600 2032-2033 805,000 48,600 Totals $10,430,000 $1,510,754 64 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 NOTE III - DETAILED NOTES ON ALL FUNDS (cont.) E.LONG-TERM OBLIGATIONS (cont.) Loans and Notes Payable Loans and Notes Payable at December 31, 2021 consist of the following: Governmental Activities Loans and Notes Payable Repayment Fund Date of Issue Final Maturity Interest Rates Balance December 31, 2021 $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 $231,518 Total Governmental Activities Loans and Notes Payable $231,518 Business-type Activities Loans and Notes Payable Repayment Fund Date of Issue Final Maturity Interest Rates Balance December 31, 2021 $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%$3,547,441 Total Business-type Activities Loans and Notes Payable $3,547,441 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 2022 $24,371 $-$1,125,155 $70,949 2023 24,370 -890,748 48,445 2024 24,370 -1,012,639 30,630 2025 24,370 -518,899 10,378 2026 24,370 --- 2027-2031 109,667 --- Totals $231,518 $-$3,547,441 $160,402 65 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 NOTE III - DETAILED NOTES ON ALL FUNDS (cont.) E.LONG-TERM OBLIGATIONS (cont.) Other Debt Information The compensated absences liability, total OPEB liability, and net pension liability attributable to governmental activities will be liquidated primarily by the General Fund. Noncommitment Debt - Special Service Area Bonds The special services area bonds outstanding as of December 31, 2021 totaled $1,628,969. These bonds are not an obligation of the Village and are secured by the levy of special debt service on the real property within each special service area. The Village is in no way liable for repayment, but is only acting as the agent for the property owners in levying and collecting the assessments and forwarding the collections to the bondholders. F. LEASE DISCLOSURES 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 $286,000 lease receivable as of fiscal year-end. Governmental Activities Years Principal Interest Total 2022 $149,198 $6,802 $156,000 2023 128,084 1,916 130,000 Totals $277,282 $8,718 $286,000 66 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 NOTE III - DETAILED NOTES ON ALL FUNDS (cont.) G.COMPONENT UNIT GLENVIEW LIBRARY This report contains the Glenview Library (Library), which is included as a component unit. In addition to the basic financial statements and the preceding notes to financial statements which apply, the following additional disclosures are considered necessary for a fair presentation. a. Basis of Accounting/Measurement Focus The Library follows the modified accrual basis of accounting and the flow of economic resources measurement focus. b. Deposits and Investments Carrying Value Statement Balances Deposits $6,407,449 $6,435,006 The Illinois Funds 4,706 4,706 Petty cash 900 - Total Deposits and Investments $6,413,055 $6,439,712 Reconciliation to financial statements Per statement of net position Cash and cash equivalents $6,413,055 Total Deposits and Investments $6,413,055 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. 67 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 NOTE III - DETAILED NOTES ON ALL FUNDS (cont.) G.COMPONENT UNIT (cont.) GLENVIEW LIBRARY (cont.) b. Deposits and Investments (cont.) Credit Risk Credit risk is the risk that an issuer or other counterparty to an investment will not fulfill its obligations. The Library had investments in the Illinois Funds which was rated AAA by Standard & Poor's and not rated by Moody's Investors Services. See Note I.D.1. for further information on deposit and investment policies. 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 28,589,194 --28,589,194 Equipment and vehicles 128,107 --128,107 Library books and materials 6,059,499 791,973 1,302,592 5,548,880 Total Capital Assets Being Depreciated 34,776,800 791,973 1,302,592 34,266,181 Total Capital Assets 40,203,787 791,973 1,302,592 39,693,168 Less: Accumulated depreciation for Buildings and improvements (6,045,901)(599,423)-(6,645,324) Equipment and vehicles (123,970)(2,070)-(126,040) Library books and materials (4,019,662)(698,286)(1,302,592)(3,415,356) Total Accumulated Depreciation (10,189,533)(1,299,779)(1,302,592)(10,186,720) Net Capital Assets Being Depreciated 24,587,267 (507,806)-24,079,461 Total Component Unit Capital Assets, Net $30,014,254 $(507,806)$-$29,506,448 68 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 NOTE III - DETAILED NOTES ON ALL FUNDS (cont.) G.COMPONENT UNIT (cont.) GLENVIEW LIBRARY (cont.) d. Interfund Transfers The following is a schedule of interfund transfers: Fund Transferred To Fund Transferred From Amount Principal Purpose Library General Library Capital Contribution $17,300 Transfer to fund capital improvement costs and operations. Library Special Reserve Library General 357,224 Transfer to fund certain capital costs Total - Fund Financial Statements $374,524 e. Long-Term Obligations Beginning Balance Increases Decreases Ending Balance Amounts Due Within One Year Bonds Payable General obligation debt $13,110,350 $-$1,191,850 $11,918,500 $1,250,950 (Discounts)/Premiums Bond premium 1,733,750 -192,639 1,541,111 - Other Liabilities Compensated absences 209,606 115,595 157,205 167,996 33,599 Total OPEB liability 233,203 16,332 10,605 238,930 - Net pension liability 1,487,516 4,077,655 5,565,171 -- Total Component Units Long- Term Liabilities $16,774,425 $4,209,582 $7,117,470 $13,866,537 $1,284,549 69 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 NOTE III - DETAILED NOTES ON ALL FUNDS (cont.) G.COMPONENT UNIT (cont.) GLENVIEW LIBRARY (cont.) e. Long-Term Obligations (cont.) Obligation Debt Repayment Fund Date of Issue Final Maturity Interest Rates Balance December 31, 2021 $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%$11,918,500 Total Component Unit - General Obligation Debt $11,918,500 Debt service requirements to maturity are as follows: Principal Interest Totals 2022 $1,250,950 $512,052 $1,763,002 2023 1,314,975 449,504 1,764,479 2024 1,383,925 383,756 1,767,681 2025 1,452,875 314,560 1,767,435 2026 1,521,825 241,916 1,763,741 2027-2029 4,993,950 319,336 5,313,286 Totals $11,918,500 $2,221,124 $14,139,624 The compensated absences liability and total OPEB liability will be liquidated primarily by the Library General Fund. 70 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 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, 2020, the aggregate amount of pension expense recognized for the three pension plans was as follows: Plan Amount IMRF $(1,803,734) Police Pension 2,424,075 Firefighters' Pension 2,266,897 Total $2,887,238 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. 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. 71 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 NOTE IV - OTHER INFORMATION (cont.) A.EMPLOYEES' RETIREMENT SYSTEM (cont.) Plan membership. At December 31, 2020, the measurement date, membership in the plan was as follows: Retirees and beneficiaries 276 Inactive, non-retired members 171 Active members 200 Total 647 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 2020 was 12.27% 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, 2020, 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, 2020 using the following actuarial methods and assumptions: Actuarial cost method Entry Age Normal Asset valuation method Fair Value Actuarial assumptions Investment Rate of Return 7.25% Salary increases 2.85% to 13.75%, including inflation Price inflation 2.50% Mortality. For non-disabled retirees, the Pub-2010, Amount-Weighted, below-median income, General, Retiree, Male (adjusted for 106%) and Female (adjusted 105%) tables, and future mortality improvements projected using scale MP-2020. For disabled retirees, the Pub-2010, Amount-Weighted, below-median income, General, Disabled Retiree, Male and Female (both unadjusted) tables, and future mortality improvements projected using scale MP-2020. For active members, the Pub-2010, Amount-Weighted, below-median income, General, Employee, Male and Female (both unadjusted) tables, and future mortality improvements projected using scale MP-2020. 72 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 NOTE IV - OTHER INFORMATION (cont.) A.EMPLOYEES' RETIREMENT SYSTEM (cont.) Long-Term Expected Real Rate of Return. The long-term expected rate of return on pension plan investments was determined using an asset allocation study in which best-estimate ranges of expected future real rates of return (net of pension plan investment expense and inflation) were developed for each major asset class. These ranges were combined to produce long-term expected rate of return by the target asset allocation percentage and by adding expected inflation. The target allocation and best estimates of arithmetic and geometric real rates of return for each major asset class are summarized in the following table: Projected Returns/Risks Asset Class Target Allocation One Year Arithmetic Ten Year Geometric Equities 37.00%6.35%5.00% International equities 18.00%7.65%6.00% Fixed income 28.00%1.40%1.30% Real estate 9.00%7.10%6.20% Alternatives 7.00% Private equity 10.35%6.95% Hedge funds N/A N/A Commodities 3.90%2.85% Cash equivalents 1.00%0.70%0.70% Discount rate.The discount rate used to measure the total pension liability for IMRF was 7.25%, the same rate 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 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. 73 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 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 7.25% 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 (6.25%) or 1 percentage point higher (8.25%) than the current rate: 1% Decrease Current Discount Rate 1% Increase Village: Total pension liability $109,307,594 $97,380,509 $87,980,481 Plan fiduciary net pension 98,865,407 98,865,407 98,865,407 Net pension liability/(asset)$10,442,187 $(1,484,898)$(10,884,926) Glenview Library: Total pension liability $32,203,551 $28,689,663 $25,920,284 Plan fiduciary net pension 29,127,135 29,127,135 29,127,135 Net pension liability/(asset)$3,076,416 $(437,472)$(3,206,851) Total: Total pension liability $141,511,145 $126,070,172 $113,900,765 Plan fiduciary net pension 127,992,542 127,992,542 127,992,542 Net pension liability/(asset)$13,518,603 $(1,922,370)$(14,091,777) Changes in net pension liability/(asset). The changes in net pension liability/(asset)for the calendar year ended December 31, 2020 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, 2019 $94,645,050 $89,282,120 $5,362,930 Service cost 1,284,085 -1,284,085 Interest on total pension liability 6,650,191 -6,650,191 Differences between expected and actual experience of the total pension liability 366,728 -366,728 Change of assumptions (966,197)-(966,197) Benefit payments, including refunds of employee contributions (4,599,348)(4,599,348)- Contributions - employer -1,653,416 (1,653,416) Contributions - employee -593,288 (593,288) Net investment income -11,384,218 (11,384,218) Other (net transfer)-551,713 (551,713) Balances at December 31, 2020 $97,380,509 $98,865,407 $(1,484,898) 74 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 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, 2019 $26,251,696 $24,764,180 $1,487,516 Service cost 378,309 -378,309 Interest on total pension liability 1,959,239 -1,959,239 Differences between expected and actual experience of the total pension liability 1,740,107 -1,740,107 Change of assumptions (284,655)-(284,655) Benefit payments, including refunds of employee contributions (1,355,033)(1,355,033)- Contributions - employer -487,120 (487,120) Contributions - employee -174,791 (174,791) Net investment income -4,893,535 (4,893,535) Other (net transfer)-162,542 (162,542) Balances at December 31, 2020 $28,689,663 $29,127,135 $(437,472) Total: Balances at December 31, 2019 $120,896,746 $114,046,300 $6,850,446 Service cost 1,662,394 -1,662,394 Interest on total pension liability 8,609,430 -8,609,430 Differences between expected and actual experience of the total pension liability 2,106,835 -2,106,835 Change of assumptions (1,250,852)-(1,250,852) Benefit payments, including refunds of employee contributions (5,954,381)(5,954,381)- Contributions - employer -2,140,536 (2,140,536) Contributions - employee -768,079 (768,079) Net investment income -16,277,753 (16,277,753) Other (net transfer)-714,255 (714,255) Balances at December 31, 2020 $126,070,172 $127,992,542 $(1,922,370) Plan fiduciary net position as a percentage of the total pension liability %101.52 The net pension liability as of December 31, 2021 is reported on the financial statements as follows: Business-type Activities Governmental Activities Glenview Water Fund Glenview Sanitary Sewer Fund Total Business-type Activities Component Unit - Glenview Library Total Net Pension Liability/(Asset)$(1,224,582)$(214,024)$(46,292)$(260,316)$(437,472)$(1,922,370) 75 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 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, 2021, the Village and Glenview Library recognized pension expense of (1,803,734). 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 $1,381,504 $22,582 Assumption changes 429,451 682,947 Net difference between projected and actual earnings on pension plan investments -7,702,700 Changes in component proportion between governmental, business and component unit 68,086 156,605 Contributions subsequent to the measurement date 1,684,053 - Total $3,563,094 $8,564,834 Glenview Library: Difference between expected and actual experience $407,010 $6,653 Assumption changes 126,523 201,205 Net difference between projected and actual earnings on pension plan investments -2,269,324 Changes in component proportion between governmental, business and component unit 88,519 - Contributions subsequent to the measurement date 496,146 - Total $1,118,198 $2,477,182 Total: Difference between expected and actual experience $1,788,514 $29,235 Assumption changes 555,974 884,152 Net difference between projected and actual earnings on pension plan investments -9,972,024 Changes in component proportion between governmental, business and component unit 156,605 156,605 Contributions subsequent to the measurement date 2,180,199 - Total $4,681,292 $11,042,016 76 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 NOTE IV - OTHER INFORMATION (cont.) A.EMPLOYEES' RETIREMENT SYSTEM (cont.) The deferred inflows of resources and deferred outflows of resources as of December 31, 2021 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 $2,882,303 $560,131 $120,660 $680,791 $1,118,198 $4,681,292 Deferred Inflows of Resources 7,090,799 1,211,907 262,128 1,474,035 2,477,182 11,042,016 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, 2022. The remaining amounts reported as deferred outflows and inflows of resources related to pensions was a negative $8,540,923 which will be recognized in pension expense as follows: Year Ending December 31,Village Component Unit - Glenview Library Total 2022 $(1,606,658)$(473,344)$(2,080,002) 2023 (759,806)(223,849)(983,655) 2024 (2,980,414)(878,072)(3,858,486) 2025 (1,250,396)(368,384)(1,618,780) Total $(6,597,274)$(1,943,649)$(8,540,923) 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. 77 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 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, 2021, the Police Pension membership consisted of: Retirees and beneficiaries 72 Inactive, non-retired members 7 Active members 70 Total 149 78 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 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 $3,733,846 for the fiscal year ending December 31, 2021 was 48.14% of annual covered payroll. Net Pension Liability/(Asset). The net pension liability/(asset) was measured as of December 31, 2021, 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, 2021 using the following actuarial methods and assumptions: Actuarial cost method Entry Age Normal Asset valuation method Fair Value Actuarial assumptions Interest rate 6.75% Inflation 2.50% Projected salary increases - service based rates 3.62% to 7.36% Cost-of-living adjustments Tier 1 - 3.00% Tier 2 - 1.25% Mortality Rate Active Lives: PubS.H-2010 Employee mortality, projected to 2033 with Scale MP-2021. 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 2033 with Scale MP-2021. Mortality Rate Beneficiaries: PubS.H- 2010 Survivor mortality, projected to 2033 with Scale MP-2021. Mortality Rate Disabled Lives: PubS.H- 2010 Disabled mortality, projected to 2033 with Scale MP-2021. 79 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 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 $145,369,845 $127,493,861 $112,849,112 Plan fiduciary net position 102,463,435 102,463,435 102,463,435 Net pension liability $42,906,410 $25,030,426 $10,385,677 Changes in net pension liability/(asset).The Village's changes in net pension liability/(asset) for the calendar year ended December 31, 2021 was as follows: Increase (Decrease) Total Pension Liability (a) Plan Fiduciary Net Position (b) Net Pension Liability/Asset (a) - (b) Balances at December 31, 2020 $122,346,507 $93,209,673 $29,136,834 Service cost 1,625,010 -1,625,010 Interest on total pension liability 8,159,763 -8,159,763 Differences between expected and actual experience of the total pension liability 1,134,817 -1,134,817 Benefit payments, including refunds of employee contributions (6,172,267)(6,172,267)- Contributions - employer -3,727,911 (3,727,911) Contributions - employee -1,018,961 (1,018,961) Contributions - buy back 400,031 400,031 - Net investment income -10,358,113 (10,358,113) Administration -(78,987)78,987 Balances at December 31, 2021 $127,493,861 $102,463,435 $25,030,426 Plan fiduciary net position as a percentage of the total pension liability %80.37 80 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 NOTE IV - OTHER INFORMATION (cont.) A.EMPLOYEES' RETIREMENT SYSTEM (cont.) Police Pension (cont.) Pension expense and deferred outflows of resources and deferred inflows of resources related to pensions.For the year ended December 31, 2021, the Village recognized pension expense of $2,424,075. 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 $3,633,377 $- Assumption changes 469,956 - Net difference between projected and actual earnings on pension plan investments -6,431,362 Total $4,103,333 $6,431,362 The amounts reported as deferred outflows and inflows of resources related to pensions was a negative $2,328,029 and will be recognized in pension expense as follows: Year Ending December 31,Amount 2022 $(42,446) 2023 (1,887,149) 2024 (556,868) 2025 (30,702) 2026 189,136 Total $(2,328,029) 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. 81 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 NOTE IV - OTHER INFORMATION (cont.) A.EMPLOYEES' RETIREMENT SYSTEM (cont.) Firefighters' Pension (cont.) Tier 1 - Covered employees attaining the age of 50 or more with 20 or more years of creditable service are entitled to receive a monthly retirement benefit of one half of the monthly salary attached to the rank held in the fire service at the date of retirement. The monthly pension shall be increased by one twelfth of 2.5% of such monthly salary for each additional month over 20 years of service through 30 years of service to a maximum of 75% of such monthly salary. Employees with at least 10 years but less than 20 years of credited service may retire at or after age 60 and receive a reduced retirement benefit. The monthly pension of a firefighter who retired with 20 or more years of service after January 1, 1977 shall be increased annually, following the first anniversary date of retirement and paid upon reaching at least the age 55, by 3% of the original pension and 3% compounded annually thereafter. Tier 2 - Covered employees attaining the age of 55 or more with 10 or more years of creditable service are entitled to receive a monthly pension of 2.5% of the final average salary for each year of creditable service. The salary is initially capped at $106,800 but increases annually thereafter and is limited to 75% of final average salary. Employees with 10 or more years of creditable service may retire at or after age 50 and receive a reduced retirement benefit. The monthly pension of a firefighter shall be increased annually on the January 1 occurring either on or after the attainment of age 60 or the first anniversary of the pension start date, whichever is later. Each annual increase shall be calculated at 3% or one-half the annual unadjusted percentage increase in the CPI, whichever is less. Plan membership. At December 31, 2021, the Firefighters' Pension Plan membership consisted of: Retirees and beneficiaries 102 Inactive, non-retired members 3 Active members 74 Total 179 Contributions. Participants contribute a fixed percentage of their base salary to the plans. At December 31, 2021, 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 $5,761,921 for the fiscal year ending December 31, 2021 was 63.66% of annual covered payroll. Net pension liability/(asset). The net pension liability/(asset) was measured as of December 31, 2021, and the total pension liability used to calculate the net pension liability/(asset) was determined by an annual actuarial valuation as of that date. 82 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 NOTE IV - OTHER INFORMATION (cont.) A.EMPLOYEES' RETIREMENT SYSTEM (cont.) Firefighters' Pension (cont.) Summary of significant accounting policies. The financial statements of the Firefighters' Pension Plan are prepared using the accrual basis of accounting. Plan member contributions are recognized in the period in which contributions are due. The Village’s contributions are recognized when due and a formal commitment to provide the contributions are made. Benefits and refunds are recognized when due and payable in accordance with the terms of the plan. Plan investments are reported at fair value. Short-term investments are reported at cost, which approximated fair value. Investments that do not have an established market are reported at estimated fair values. Actuarial assumptions. The total pension liability was determined by an actuarial valuation performed as of December 31, 2021 using the following actuarial methods and assumptions: Actuarial cost method Entry Age Normal Asset valuation method Fair Value Actuarial assumptions Interest rate 6.88% Inflation 2.25% Projected salary increases 3.75% - 7.25% Cost-of-living adjustments 3.25% Mortality Rates: Active mortality follows the Sex Distinct Raw Rates as developed in the PubS-2010(A) Study. Retiree and Disabled mortality follows the L&A assumption study for Firefighters 2020. These rates are experience weighted with Sex Distinct Raw Rates as developed in the PubS-2010(A) Study improved to 2017 using MP-2019 Improvement rates. Spouse mortality follows the Sex Distinct Raw Rates as developed in the PubS-2010(A) Study for contingent survivors. For all demographics, all rates are then improved fully generationaly using MP-2019 Improvement Rates. Discount rate. The discount rate used to measure the total pension liability for the Firefighters' Pension Plan was 6.88%. The discount rate calculated using the December 31, 2020 measurement date was 7.00%. 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 not 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 of 7.00% was blended with the index rate of 2.06% for tax exempt 20-year general obligation municipal bonds with an average AA credit rating as of December 31, 2021 to arrive at a discount rate of 6.88% used to determine the total pension liability. The year ending December 31, 2067 is the last year in the project period for which projected benefit payments are fully funded. 83 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 NOTE IV - OTHER INFORMATION (cont.) A.EMPLOYEES' RETIREMENT SYSTEM (cont.) Firefighters' Pension (cont.) Discount rate sensitivity.The following is a sensitivity analysis of the net pension liability to changes in the discount rate. The table below presents the pension liability of the Village calculated using the discount rate of 6.88% 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 (5.88%) or 1 percentage point higher (7.88%) than the current rate: 1% Decrease Current Discount Rate 1% Increase Total pension liability $170,384,633 $150,208,348 $133,600,847 Plan fiduciary net position 117,570,207 117,570,207 117,570,207 Net pension liability $52,814,426 $32,638,141 $16,030,640 Changes in net pension liability/(asset).The Village's changes in net pension liability/(asset) for the calendar year ended December 31, 2021 was as follows: Increase (Decrease) Total Pension Liability (a) Plan Fiduciary Net Position (b) Net Pension Liability/Asset (a) - (b) Balances at December 31, 2020 $146,560,409 $106,424,788 $40,135,621 Service cost 2,163,931 -2,163,931 Interest on total pension liability 9,789,037 -9,789,037 Differences between expected and actual experience of the total pension liability (2,601,159)-(2,601,159) Change of assumptions 2,164,295 -2,164,295 Benefit payments, including refunds of employee contributions (7,868,165)(7,868,165)- Contributions - employer -5,741,479 (5,741,479) Contributions - employee -858,274 (858,274) Net investment income -12,498,879 (12,498,879) Administration -(85,048)85,048 Balances at December 31, 2021 $150,208,348 $117,570,207 $32,638,141 Plan fiduciary net position as a percentage of the total pension liability %78.27 84 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 NOTE IV - OTHER INFORMATION (cont.) A.EMPLOYEES' RETIREMENT SYSTEM (cont.) Firefighters' Pension (cont.) Pension expense and deferred outflows of resources and deferred inflows of resources related to pensions.For the year ended December 31, 2021, the Village recognized pension expense of $2,266,897. 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 $1,243,080 $2,435,882 Assumption changes 3,758,450 - Net difference between projected and actual earnings on pension plan investments -10,589,344 Total $5,001,530 $13,025,226 The amounts reported as deferred outflows and inflows of resources related to pensions was a negative $8,023,696 which will be recognized in pension expense as follows: Year Ending December 31,Amount 2022 $(1,358,950) 2023 (3,894,595) 2024 (1,902,694) 2025 (835,848) 2026 (31,609) Total $(8,023,696) 85 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 NOTE IV - OTHER INFORMATION (cont.) A.EMPLOYEES' RETIREMENT SYSTEM (cont.) PENSION SEGMENT INFORMATION Fiduciary Net Position Pension Trust Police Pension Fund Firefighters' Pension Fund Total Assets Cash and Cash Equivalents $4,510,317 $1,176,532 $5,686,849 Investments U.S. Treasuries 4,716,342 3,948,344 8,664,686 U.S. Agencies 5,411,229 25,494,414 30,905,643 Mutual Funds 66,218,152 72,523,343 138,741,495 Corporate Obligations 20,792,517 6,511,478 27,303,995 Municipal Obligations 566,532 6,570,989 7,137,521 Negotiable Certificates of Deposit -1,053,347 1,053,347 Receivables - (net allowances for uncollectibles) Accrued Interest 224,297 219,747 444,044 Due from Primary Government 40,031 69,287 109,318 Prepaid Items 8,992 7,417 16,409 Total Assets 102,488,409 117,574,898 220,063,307 Liabilities Accrued Expenses 24,974 4,691 29,665 Total Liabilities 24,974 4,691 29,665 Net Position Restricted for pension benefits $102,463,435 $117,570,207 $220,033,642 86 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 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 $3,727,911 $5,741,479 $9,469,390 Participant 1,418,992 858,274 2,277,266 Total Contributions 5,146,903 6,599,753 11,746,656 Investment Income Net Appreciation in Fair Value of Investments 5,679,868 7,457,189 13,137,057 Pensions - Interest Income 4,806,280 5,250,206 10,056,486 Total Investment income 10,486,148 12,707,395 23,193,543 Less Investment Expense 128,035 208,516 336,551 Net Investment Income 10,358,113 12,498,879 22,856,992 Total Additions 15,505,016 19,098,632 34,603,648 Deductions Retirement Pensions 5,827,544 6,559,844 12,387,388 Widow Pensions 134,329 680,233 814,562 Disability Pensions 143,057 620,455 763,512 Children's Pensions 48,270 -48,270 Contribution Refunds 19,067 7,633 26,700 Administration 78,987 85,048 164,035 Total Deductions 6,251,254 7,953,213 14,204,467 Change in net position 9,253,762 11,145,419 20,399,181 Net position, beginning of year 93,209,673 106,424,788 199,634,461 Net position, end of year $102,463,435 $117,570,207 $220,033,642 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. 87 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 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 $1,497,505 $1,195,631 Current year claims and changes in estimates 144,435 595,078 Claim payments (446,309)(594,265) Unpaid Claims - End of Year $1,195,631 $1,196,444 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. 88 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 NOTE IV - OTHER INFORMATION (cont.) 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. D.JOINT VENTURES 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 $566,917 to SWANCC for the year ended December 31, 2021. The payments are recorded in the General Fund. The Village does not have an equity interest in SWANCC at December 31, 2021. 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. 89 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 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, 2021, the Village reported a liability for its proportionate share of the total OPEB liability of $13,307,229 and the Library reported a liability for its proportionate share of the total OPEB liability of $238,930. The total liability was measured as of December 31, 2021, and was determined by an actuarial valuation as of December 31, 2021. 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, 2021. At December 31, 2021, the Village and Library's proportions were 98.24% and 1.76%, respectively. Actuarial assumptions and other inputs. The total OPEB liability in the December 31, 2021 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 7.50%, grading down to the ultimate trend rate of 4.50% in 2029 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. 90 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 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 2020 using scale MP2020 for Police and Fire. For all others the RP2014 base rates projected to 2020 using scale MP2020 was used. No additional provision (besides those already embedded) were included for mortality improvements beyond 2020. The actuarial assumptions used in the December 31, 2021 valuation were based on the results of an actuarial experience study conducted by the independent actuary. Discount Rate. At December 31, 2021, the discount rate used to measure the total OPEB liability was a blended rate of 1.84%, which was a change from the December 31, 2020 rate of 2.00%. 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, 2020 $12,950,697 Changes for the year: Service cost 756,418 Interest 252,777 Changes in assumptions or other inputs 210,005 Benefit payments (623,738) Net changes 595,462 Balances at December 31, 2021 $13,546,159 Total OPEB liability - Village proportion $13,307,229 Total OPEB liability - Library proportion $238,930 Changes of assumptions and other inputs reflect a change in the discount rate from 2.00% for the reporting period ended December 31, 2020, to 1.84% for the reporting period ended December 31, 2021. 91 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 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 (0.84 percent) or 1- percentage-point higher (2.84 percent) than the current discount rate: 1% Decrease Discount Rate 1% Increase (0.84%)(1.84%)(2.84%) Total OPEB liability - Village $14,684,434 $13,307,229 $12,096,797 Total OPEB liability - Library 263,658 238,930 217,197 Total OPEB liability $14,948,092 $13,546,159 $12,313,994 Sensitivity of the net OPEB liability to changes in the healthcare cost trend rates.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 healthcare cost trend rates that are 1-percentage-point lower ( 6.50 percent decreasing to 3.50 percent) or 1-percentage-point higher (8.50 percent decreasing to 5.50 percent) than the current healthcare cost trend rates: 1% Decrease (6.50% Decreasing to 3.50%) Healthcare Cost Trend Rates (7.50% Decreasing to 4.50%) 1% Increase (8.50% Decreasing to 5.50%) Total OPEB liability - Village $11,714,035 $13,307,229 $15,249,779 Total OPEB liability - Library 210,324 238,930 273,808 Total OPEB liability $11,924,359 $13,546,159 $15,523,587 92 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 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, 2021, the Village and Library recognized OPEB expense of $1,245,604. At December 31, 2021, 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 $-$1,306,982 Assumption changes 2,918,551 - Total $2,918,551 $1,306,982 Glenview Library: Difference between expected and actual experience $-$23,467 Assumption changes 52,402 - Total $52,402 $23,467 Total: Difference between expected and actual experience $-$1,330,449 Assumption changes 2,970,953 - Total $2,970,953 $1,330,449 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 2022 $232,239 $4,170 $236,409 2023 232,239 4,170 236,409 2024 232,239 4,170 236,409 2025 232,239 4,170 236,409 2026 232,239 4,170 236,409 Thereafter 450,374 8,085 458,459 Total $1,611,569 $28,935 $1,640,504 F.SUBSEQUENT EVENT Subsequent to December 31, 2021, the investment markets have experienced significant volatility. It is highly likely that the values of the Police Pension Fund's and the Firefighters' Pension Fund's investments have changed by material amounts since year end. 93 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 NOTE IV - OTHER INFORMATION (cont.) G.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 2021, the Village made payments to the retailer totaling $3,322,908 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 2021, the Village did not make a payment to the retailer as the minimum amount of gross revenue was not met 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 $228,687. 94 VILLAGE OF GLENVIEW NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2021 NOTE IV - OTHER INFORMATION (cont.) H.EFFECT OF NEW ACCOUNTING STANDARDS ON CURRENT-PERIOD FINANCIAL STATEMENTS The Governmental Accounting Standards Board (GASB) has approved the following: Statement No. 87, Leases Statement No. 91, Conduit Debt Obligations Statement No. 92, Omnibus 2020 Statement No. 93, Replacement of Interbank Offered Rates Statement No. 94, Public-Private and Public-Public Partnerships and Available Payment Arrangements Statement No. 96, Subscription-Based Information Technology Arrangements Statement No. 97, Certain Component Unit Criteria, and Accounting and Financial Reporting for Internal Revenue Code Section 457 Deferred Compensation Plans - an amendment of GASB Statements No. 14 and No. 84, and a supersession of GASB Statement No. 32 Statement No. 99, Omnibus 2022 When they become effective, application of these standards may restate portions of these financial statements. 95 R E Q U I R E D S U P P L E M E N T A R Y I N F O R M A T I O N See independent auditors' report and accompanying notes to required supplementary information 96 Village Library Total Village Library Total Total pension liability Service cost 1,441,366$ 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 liability/(asset)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 liability/(asset) 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 VILLAGE'S NET PENSION LIABILITY/(ASSET) 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. 2015 2016 Last Seven Fiscal Years AND RELATED RATIOS See independent auditors' report and accompanying notes to required supplementary information 97 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 98 Village Library Total Village Library Total Total pension liability Service cost 1,236,773$ 340,839$ 1,577,612$ 1,273,811$ 353,317$ 1,627,128$ Interest 6,213,224 1,712,289 7,925,513 6,510,753 1,805,888 8,316,641 Differences between expected and actual experience 1,385,572 395,285 1,780,857 (182,384) 112,564 (69,820) Changes of assumptions 2,593,209 714,657 3,307,866 - - - Benefit payments, including refunds of member contributions (4,716,152) (687,656) (5,403,808) (4,502,880) (1,248,964) (5,751,844) Net change in total pension liability 6,712,626 2,475,414 9,188,040 3,099,300 1,022,805 4,122,105 Total pension liability - beginning 84,833,124 22,753,477 107,586,601 91,545,750 25,228,891 116,774,641 Total pension liability - ending 91,545,750$ 25,228,891$ 116,774,641$ 94,645,050$ 26,251,696$ 120,896,746$ Plan fiduciary net position Employer contributions 1,613,034$ 444,532$ 2,057,566$ 1,227,435$ 340,453$ 1,567,888$ Employee contributions 575,274 158,539 733,813 574,253 159,281 733,534 Net investment income (4,546,579) (1,252,982) (5,799,561) 14,577,831 4,181,868 18,759,699 Benefit payments, including refunds of member contributions (4,716,152) (687,656) (5,403,808) (4,502,880) (1,248,964) (5,751,844) Other (net transfer)1,729,313 476,577 2,205,890 (259,926) (72,096) (332,022) Net change in plan fiduciary net position (5,345,110) (860,990) (6,206,100) 11,616,713 3,360,542 14,977,255 Plan fiduciary net position - beginning 83,010,517 22,264,628 105,275,145 77,665,407 21,403,638 99,069,045 Plan fiduciary net position - ending 77,665,407$ 21,403,638$ 99,069,045$ 89,282,120$ 24,764,180$ 114,046,300$ Employer's net pension liability/(asset)13,880,343$ 3,825,253$ 17,705,596$ 5,362,930$ 1,487,516$ 6,850,446$ Plan fiduciary net position as a percentage of the total pension liability 84.84%94.33% Covered payroll 16,306,927$ 16,273,002$ Employer's net pension liability/(asset) as a percentage of covered payroll 108.58%42.10% VILLAGE OF GLENVIEW ILLINOIS MUNICIPAL RETIREMENT FUND SCHEDULE OF CHANGES IN THE VILLAGE'S NET PENSION LIABILITY/(ASSET) AND RELATED RATIOS Last Seven Fiscal Years 2019 2020 See independent auditors' report and accompanying notes to required supplementary information 99 Village Library Total 1,284,085$ 378,309$ 1,662,394$ 6,650,191 1,959,239 8,609,430 366,728 1,740,107 2,106,835 (966,197) (284,655) (1,250,852) (4,599,348) (1,355,033) (5,954,381) 2,735,459 2,437,967 5,173,426 94,645,050 26,251,696 120,896,746 97,380,509$ 28,689,663$ 126,070,172$ 1,653,416$ 487,120$ 2,140,536$ 593,288 174,791 768,079 11,384,218 4,893,535 16,277,753 (4,599,348) (1,355,033) (5,954,381) 551,713 162,542 714,255 9,583,287 4,362,955 13,946,242 89,282,120 24,764,180 114,046,300 98,865,407$ 29,127,135$ 127,992,542$ (1,484,898)$ (437,472)$ (1,922,370)$ 101.52% 17,052,712$ -11.27% 2021 See independent auditors' report and accompanying notes to required supplementary information 100 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 2015 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 2.50% Salary increases Investment rate of return 7.25% Retirement Age Mortality Other information: There were no benefit changes during the year. 2015 3.35% to 14.25% including inflation Entry age normal Level percentage of payroll, closed 23-year closed period 5-Year Smoothed Market; 20% corridor VILLAGE OF GLENVIEW ILLINOIS MUNICIPAL RETIREMENT FUND SCHEDULE OF EMPLOYER CONTRIBUTIONS Last Seven Fiscal Years 2016 Experience-based table of rates that are specific to the type of eligibility condition. Last updated for the 2017 valuation pursuant to an experience study of the period 2014-2016. IMRF specific mortality table was used with fully generational projection scale MP-2017 (base year 2015). See independent auditors' report and accompanying notes to required supplementary information 101 Village Library Total Village Library Total Village Library Total 1,606,360$ 427,007$ 2,033,367$ 1,579,391$ 419,838$ 1,999,229$ 1,210,906$ 341,538$ 1,552,444$ (1,640,374) (436,049) (2,076,423) (1,625,477) (432,089) (2,057,566) (1,222,953) (344,935) (1,567,888) (34,014)$ (9,042)$ (43,056)$ (46,086)$ (12,251)$ (58,337)$ (12,046)$ (3,398)$ (15,444)$ 16,293,001$ 16,306,927$ 16,273,002$ 12.74%12.62%9.63% 2018 20192017 See independent auditors' report and accompanying notes to required supplementary information 102 Village Library Total Village Library Total Actuarially determined contribution 1,616,210$ 476,158$ 2,092,368$ 1,594,616$ 469,796$ 2,064,412$ Contributions in relation to the actuarially determined contribution (1,653,416) (487,120) (2,140,536) (1,699,717) (479,407) (2,179,124) Contribution deficiency (excess)(37,206)$ (10,962)$ (48,168)$ (105,101)$ (9,611)$ (114,712)$ Covered payroll 17,052,712$ 17,509,853$ Contributions as a percentage of covered payroll 12.55%12.45% VILLAGE OF GLENVIEW ILLINOIS MUNICIPAL RETIREMENT FUND SCHEDULE OF EMPLOYER CONTRIBUTIONS Last Seven Fiscal Years 2020 2021 See independent auditors' report and notes to required supplementary information. 103 2014 2015 2016 Total pension liability Service cost 1,674,658$ 2,025,748$ 1,601,139$ Interest 5,490,500 6,368,405 6,436,190 Differences between expected and actual experience - (4,142,795) 215,928 Changes of assumptions - 898,895 3,376,901 Changes of benefit terms - - - Contributions - buy back - 49,495 - Benefit payments, including refunds of member contributions (3,274,551) (3,665,231) (3,948,281) Net change in total pension liability 3,890,607 1,534,517 7,681,877 Total pension liability - beginning 86,893,481 90,784,088 92,318,605 Total pension liability - ending (a)90,784,088$ 92,318,605$ 100,000,482$ Plan fiduciary net position Employer contributions 1,953,494$ 7,494,545$ 2,497,041$ Employee contributions 686,942 728,210 812,961 Buy back contributions - 49,495 - Net investment income 2,799,434 (2,979) 3,937,691 Benefit payments, including refunds of member contributions (3,274,551) (3,665,231) (3,948,281) Administration (45,490) (51,118) (50,482) Net change in plan fiduciary net position 2,119,829 4,552,922 3,248,930 Plan fiduciary net position - beginning 62,083,784 64,203,613 68,756,535 Plan fiduciary net position - ending (b)64,203,613$ 68,756,535$ 72,005,465$ Village's net pension liability - ending (a) - (b)26,580,475$ 23,562,070$ 27,995,017$ Plan fiduciary net position as a percentage of the total pension liability 70.72%74.48%72.01% Covered payroll 7,055,218$ 6,985,724$ 7,123,493$ Village's net pension liability as a percentage of covered payroll 376.75%337.29%393.00% 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 POLICE PENSION FUND SCHEDULE OF CHANGES IN THE VILLAGE'S NET PENSION LIABILITY AND RELATED RATIOS Last Eight Fiscal Years 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. See independent auditors' report and notes to required supplementary information. 104 2017 2018 2019 2020 2021 1,751,973$ 1,647,496$ 1,576,413$ 1,684,161$ 1,625,010$ 6,727,271 7,022,152 7,384,510 7,685,020 8,159,763 386,681 137,917 347,289 3,605,445 - 1,409,870 - - 1,134,817 - - 317,248 - - 56,462 - - 400,031 (4,178,350) (4,607,357) (5,015,959) (5,592,217) (6,172,267) 4,687,575 5,666,540 4,609,501 7,382,409 5,147,354 100,000,482 104,688,057 110,354,597 114,964,098 122,346,507 104,688,057$ 110,354,597$ 114,964,098$ 122,346,507$ 127,493,861$ 2,492,386$ 2,470,705$ 2,460,430$ 3,466,223$ 3,727,911$ 712,431 695,012 701,306 1,397,725 1,018,961 - 56,462 - 400,031 8,439,097 (3,589,649) 12,903,405 8,655,205 10,358,113 (4,178,350) (4,607,357) (5,015,959) (5,592,217) (6,172,267) (57,057) (61,122) (56,856) (87,612) (78,987) 7,408,507 (5,035,949) 10,992,326 7,839,324 9,253,762 72,005,465 79,413,972 74,378,023 85,370,349 93,209,673 79,413,972$ 74,378,023$ 85,370,349$ 93,209,673$ 102,463,435$ 25,274,085$ 35,976,574$ 29,593,749$ 29,136,834$ 25,030,426$ 75.86%67.40%74.26%76.18%80.37% 6,890,888$ 6,725,646$ 6,908,778$ 7,233,592$ 7,444,082$ 366.78%534.92%428.35%402.80%336.25% See independent auditors' report and notes to required supplementary information. 105 VILLAGE OF GLENVIEW POLICE PENSION FUND SCHEDULE OF EMPLOYER CONTRIBUTIONS Last Ten Fiscal Years 2012 2013 2014 2015 Actuarially determined contribution 1,569,531$ 1,812,556$ 1,921,637$ 1,957,880$ Contributions in relation to the actuarially determined contribution 1,812,692 1,632,373 1,953,494 7,494,545 Contribution deficiency (excess)(243,161)$ 180,183$ (31,857)$ (5,536,665)$ Covered payroll 6,136,593$ 6,359,627$ 7,055,218$ 6,985,724$ Contributions as a percentage of covered payroll 29.54%25.67%27.69%107.28% Notes to Schedule: Valuation date: Actuarially determined contributions are calculated as of December 31 of the current fiscal year. Methods and assumptions used to determine contribution rates: Actuarial cost method Amortization method Asset valuation method Inflation Salary increases Investment rate of return Mortality Age based from 3.62% to 7.36% 6.75%, net of pension plan investment expense, including inflation Mortality rates were based on the PubS.H-2010 mortality, projected to 2031 with the scale MP-2019. 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 5-year Smoothed Market Value 2.50% See independent auditors' report and notes to required supplementary information. 106 2016 2017 2018 2019 2020 2021 3,224,497$ 2,337,883$ 2,448,164$ 2,448,009$ 3,428,510$ 3,733,846$ 2,497,041 2,492,386 2,470,705 2,460,430 3,466,223 3,727,912 727,456$ (154,503)$ (22,541)$ (12,421)$ (37,713)$ 5,934$ 7,123,493$ 6,890,888$ 6,725,646$ 6,908,778$ 7,233,592$ 7,744,082$ 35.05%36.17%36.74%35.61%47.92%48.14% See independent auditors' report and notes to required supplementary information. 107 VILLAGE OF GLENVIEW POLICE PENSION FUND SCHEDULE OF INVESTMENT RETURNS Last Eight Fiscal Years 2014 2015 2016 2017 2018 2019 2020 2021 Annual money-weighted rate of return, net of investment expense 4.58%0.06%5.80%11.99%-4.63%17.83%10.46%11.54% 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. 108 2014 2015 2016 Total pension liability Service cost 1,977,800$ 1,761,875$ 1,890,273$ Interest 7,079,887 7,367,177 7,728,761 Differences between expected and actual experience - 2,444,216 (2,178,162) Changes of assumptions - 2,698,985 7,605,249 Changes of benefit terms - - - Benefit payments, including refunds of member contributions (4,862,207) (5,327,947) (5,627,277) Net change in total pension liability 4,195,480 8,944,306 9,418,844 Total pension liability - beginning 100,084,722 104,280,202 113,224,508 Total pension liability - ending (a)104,280,202$ 113,224,508$ 122,643,352$ Plan fiduciary net position Employer contributions 3,134,768$ 10,309,348$ 4,016,250$ Employee contributions 751,554 750,195 782,515 Other contributions - - - Net investment income 4,274,117 817,749 4,765,957 Benefit payments, including refunds of member contributions (4,862,207) (5,327,947) (5,627,277) Administration (44,601) (82,809) (68,045) Net change in plan fiduciary net position 3,253,631 6,466,536 3,869,400 Plan fiduciary net position - beginning 62,072,386 65,326,017 71,792,553 Plan fiduciary net position - ending (b)65,326,017$ 71,792,553$ 75,661,953$ Village's net pension liability - ending (a) - (b)38,954,185$ 41,431,955$ 46,981,399$ Plan fiduciary net position as a percentage of the total pension liability 62.64%63.41%61.69% Covered payroll 7,058,973$ 7,926,515$ 8,077,068$ Village's net pension liability as a percentage of covered payroll 551.84%522.70%581.66% 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 Eight Fiscal Years Changes of assumptions. For measurement date December 31, 2021, the discount rate was changed from 7.00% as of December 31, 2020 to 6.88% as of December 31, 2021. See independent auditors' report and notes to required supplementary information. 109 2017 2018 2019 2020 2021 2,022,592$ 2,086,295$ 2,172,435$ 2,303,849$ 2,163,931$ 8,377,782 8,688,900 8,994,385 9,665,126 9,789,037 2,444 (229,937) 1,445,323 765,410 (2,601,159) - - 1,494,281 676,347 2,164,295 - - 801,181 - - (5,921,500) (5,995,055) (6,367,259) (7,065,542) (7,868,165) 4,481,318 4,550,203 8,540,346 6,345,190 3,647,939 122,643,352 127,124,670 131,674,873 140,215,219 146,560,409 127,124,670$ 131,674,873$ 140,215,219$ 146,560,409$ 150,208,348$ 3,839,494$ 4,048,725$ 4,036,671$ 5,141,206$ 5,741,479$ 783,767 814,043 868,289 926,080 858,274 18,091 - - - - 10,455,191 (3,987,265) 15,426,067 14,045,114 12,498,879 (5,921,500) (5,995,055) (6,367,259) (7,065,542) (7,868,165) (69,391) (69,772) (71,393) (92,726) (85,048) 9,105,652 (5,189,324) 13,892,375 12,954,132 11,145,419 75,661,953 84,767,605 79,578,281 93,470,656 106,424,788 84,767,605$ 79,578,281$ 93,470,656$ 106,424,788$ 117,570,207$ 42,357,065$ 52,096,592$ 46,744,563$ 40,135,621$ 32,638,141$ 66.68%60.44%66.66%72.61%78.27% 8,359,765$ 8,587,330$ 8,866,418$ 9,183,715$ 9,019,142$ 506.68%606.67%527.21%437.03%361.88% See independent auditors' report and notes to required supplementary information. 110 2012 2013 2014 2015 Actuarially determined contribution 2,420,075$ 2,985,212$ 2,733,414$ 3,739,508$ Contributions in relation to the actuarially determined contribution 2,926,010 3,116,164 3,134,768 10,309,348 Contribution deficiency (excess)(505,935)$ (130,952)$ (401,354)$ (6,569,840)$ Covered payroll 6,439,694$ 6,737,119$ 7,058,973$ 7,926,515$ Contributions as a percentage of covered payroll 45.44%46.25%44.41%130.06% 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 Level dollar Asset valuation method Market Value Inflation 2.50% Salary increases 4.00 - 7.50% Investment rate of return 7.00% Retirement rates Mortality Pub-2010 Adjusted for Plan Status, Demographics, and Illinois Public Pension Data, as Described 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 VILLAGE OF GLENVIEW FIREFIGHTERS' PENSION FUND SCHEDULE OF EMPLOYER CONTRIBUTIONS Last Ten Fiscal Years 115% of L&A 2020 Illinois Firefighters Retirement Rates Capped at Age 62 See independent auditors' report and notes to required supplementary information. 111 2016 2017 2018 2019 2020 2021 3,974,237$ 3,590,168$ 4,011,045$ 4,027,492$ 5,112,536$ 5,761,921$ 4,016,250 3,839,494 4,048,725 4,036,671 5,141,206 5,741,479 (42,013)$ (249,326)$ (37,680)$ (9,179)$ (28,670)$ 20,442$ 8,077,068$ 8,359,765$ 8,587,330$ 8,866,418$ 9,183,715$ 9,019,142$ 49.72%45.93%47.15%45.53%55.98%63.66% See independent auditors' report and notes to required supplementary information. 112 VILLAGE OF GLENVIEW FIREFIGHTERS' PENSION FUND SCHEDULE OF INVESTMENT RETURNS Last Eight Fiscal Years 2014 2015 2016 2017 2018 2019 2020 2021 Annual money-weighted rate of return, net of investment expense 6.95%1.19%6.64%13.82%-4.72%19.41%15.04%11.70% 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. 113 2018 2019 2020 2021 Total OPEB liability Service cost 387,795$ 413,854$ 520,499$ 756,418$ Interest 342,521 436,424 344,949 252,777 Changes of benefit terms - - (147,126) - Differences between expected and actual experience (321,493) - (1,426,114) - Changes of assumptions 857,650 1,638,770 1,404,211 210,005 Benefit payments, including refunds of member contri (556,720) (601,258) (578,629) (623,738) Net change in total OPEB liability 709,753 1,887,790 117,790 595,462 Total OPEB liability - beginning 10,235,364 10,945,117 12,832,907 12,950,697 Total OPEB liability - ending 10,945,117$ 12,832,907$ 12,950,697$ 13,546,159$ Covered-employee payroll 24,845,812$ 25,591,186$ 26,451,923$ 27,377,741$ Village's total OPEB liability as a percentage of covered payroll 44.05%50.15%48.96%49.48% Notes to Schedule: The Village implemented GASB Statement No. 75 in fiscal year 2018. Information prior to fiscal year 2018 is not available. 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. There is no ADC or employer contribution related to the ADC as the total OPEB liability is currently an unfunded obligation. VILLAGE OF GLENVIEW Last Four Fiscal Years AND RELATED RATIOS SCHEDULE OF CHANGES IN THE TOTAL OPEB LIABILITY OTHER POSTEMPLOYMENT BENEFIT PLAN The information presented above includes the total OPEB liability for the Village and Library. 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. VILLAGE OF GLENVIEW SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL - GENERAL FUND For the Year Ended December 31, 2021 With Comparative Actual Amounts for the Year Ended December 31, 2020 2021 Budgeted Amounts Original Final Actual Variance with Final Budget 2020 Actual REVENUES Taxes: Property $12,381,863 $12,381,863 $12,249,295 $(132,568)$12,373,133 Other Taxes 14,658,018 15,408,018 16,127,461 719,443 13,865,655 Licenses and Permits 2,695,242 2,695,242 2,754,448 59,206 2,114,688 Charges for Services 13,192,796 13,192,796 13,100,852 (91,944)12,505,652 Fines, Forfeitures and Penalties 125,500 125,500 129,330 3,830 93,008 Intergovernmental 29,511,239 32,783,420 37,041,578 4,258,158 30,795,110 Investment Income 385,000 385,000 30,119 (354,881)386,893 Total Revenues 72,949,658 76,971,839 81,433,083 4,461,244 72,134,139 EXPENDITURES Current: General Government 19,309,731 22,011,861 21,271,258 740,603 18,131,771 Public Works 7,115,735 7,194,632 6,976,017 218,615 7,552,623 Public Safety 34,903,956 36,397,311 36,066,277 331,034 34,319,424 Development 3,469,641 4,400,920 3,885,933 514,987 3,306,974 Total Expenditures 64,799,063 70,004,724 68,199,485 1,805,239 63,310,792 Excess of Revenues over Expenditures 8,150,595 6,967,115 13,233,598 6,266,483 8,823,347 OTHER FINANCING SOURCES (USES) Transfers In 575,000 575,000 575,000 -575,000 Transfers Out (8,713,032)(8,713,032)(8,729,847)(16,815)(12,260,749) Total Other Financing Sources (Uses)(8,138,032)(8,138,032)(8,154,847)(16,815)(11,685,749) Net Change in Fund Balance $12,563 $(1,170,917)5,078,751 $6,249,668 (2,862,402) FUND BALANCE - Beginning of Year 33,610,916 36,473,318 FUND BALANCE - END OF YEAR $38,689,667 $33,610,916 See independent auditors' report and accompanying notes to required supplementary information. 114 VILLAGE OF GLENVIEW SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL - SPECIAL TAX ALLOCATION FUND - MAJOR SPECIAL REVENUE FUND For the Year Ended December 31, 2021 With Comparative Actual Amounts for the Year Ended December 31, 2020 2021 Budgeted Amounts Original Final Actual Variance with Final Budget 2020 Actual REVENUES Property Taxes - Incremental $36,649,470 $36,649,470 $38,202,492 $1,553,022 $38,205,898 Intergovernmental - Miscellaneous 104,667 104,667 310,842 206,175 142,212 Charges for Services 204,360 204,360 204,360 -204,360 Investment Income 315,000 315,000 72,829 (242,171)315,075 Miscellaneous --14,989 14,989 - Total Revenues 37,273,497 37,273,497 38,805,512 1,532,015 38,867,545 EXPENDITURES General Government Personnel 362,505 362,505 451,360 (88,855)380,776 Contractual Services 22,467,404 22,467,404 23,332,375 (864,971)21,248,044 Commodities 74,205 74,205 38,217 35,988 50,757 Other Charges 244,092 244,092 243,568 524 243,094 Total general government 23,148,206 23,148,206 24,065,520 (917,314)21,922,671 Development Other Charges --2,501,973 (2,501,973)- Debt Service Principal 6,210,000 6,210,000 6,210,000 -6,030,000 Interest and Fiscal Charges 248,925 248,925 254,855 (5,930)531,247 Total Expenditures 29,607,131 29,607,131 33,032,348 (3,425,217)28,483,918 Excess (Deficiency) of Revenues over Expenditures 7,666,366 7,666,366 5,773,164 (1,893,202)10,383,627 OTHER FINANCING SOURCES (USES) Transfers In --104,290 104,290 - Transfers Out (170,000)(170,000)-170,000 - Total Other Financing Sources (Uses)(170,000)(170,000)104,290 274,290 - Net Change in Fund Balance $7,496,366 $7,496,366 5,877,454 $(1,618,912)10,383,627 FUND BALANCE - Beginning of Year 13,246,433 2,862,806 FUND BALANCE - END OF YEAR $19,123,887 $13,246,433 See independent auditors' report and accompanying notes to required supplementary information. 115 VILLAGE OF GLENVIEW NOTES TO REQUIRED SUPPLEMENTARY INFORMATION For the Year Ended December 31, 2021 BUDGETARY INFORMATION Annual budgets are adopted on a basis consistent with generally accepted accounting principles for all governmental funds. The enterprise, internal service, and pension trust funds are adopted on the accrual basis, except principal expense and capital expenditures are budgeted, and depreciation expense is not budgeted. The budget is as amended by the Board of Trustees. All annual appropriations lapse at fiscal year end. 1. All departments of the Village submit requests for budget to the Village's manager so that a budget may be prepared. The budget is prepared by fund and includes information on the past year, current estimates, and requested budgets for the next fiscal year. 2.The proposed budget is presented to the governing body, the Village Board, for review. The Village Board holds public hearings and may add to, subtract from, or change budgets, but may not change the form of the budget. 3.The budget is legally enacted by the Board of Trustees. 4.The Village Manager is authorized to transfer budgeted amounts between departments within any fund; however, any revisions that alter the total expenditures/expenses of any fund must be approved by the Village Board. 5.The level of control (the level at which expenditures may not exceed the budget) is at the fund level. Expenditures may not legally exceed budgets at the fund level. See independent auditors' report. 116 S U P P L E M E N T A R Y I N F O R M A T I O N 117 BUDGET AND ACTUAL - GENERAL FUND With Comparative Actual Amounts for the Year Ended December 31, 2020 2020 Original Final Actual Actual LOCAL TAXES Property Taxes for Village Current Year -$ -$ 645$ 305,731$ Prior Year (36,000) (36,000) (64,505) (23,788) Property Taxes - Debt Service Current Year 1,847,067 1,847,067 1,858,119 1,849,582 Prior Year (30,000) (30,000) (55,625) (19,887) Property Taxes - Police and Firefighters' Pension 9,535,120 9,535,120 9,469,391 8,607,430 Property Taxes - Other Village Pensions 1,065,676 1,065,676 1,041,270 1,654,065 Total Property Taxes 12,381,863 12,381,863 12,249,295 12,373,133 Other Taxes Utility Taxes Natural Gas 1,515,669 1,515,669 1,359,737 1,351,213 Electricity 2,100,000 2,100,000 2,093,370 2,042,277 Telecommunications 1,300,000 1,300,000 1,153,486 1,283,383 Hotel Room Tax 925,026 925,026 725,886 483,874 Amusement Tax 62,363 62,363 - 8,861 Home Rule Sales Tax 8,711,960 9,461,960 10,699,335 8,630,650 Business District Tax 42,000 42,000 95,647 65,397 Miscellaneous Tax 1,000 1,000 - - Total Other Taxes 14,658,018 15,408,018 16,127,461 13,865,655 Total Local Taxes 27,039,881 27,789,881 28,376,756 26,238,788 LICENSES AND PERMITS Business Licenses 28,350 28,350 21,427 18,070 Liquor Licenses 200,000 200,000 (18,626) 213,842 Building Permits 2,207,676 2,207,676 2,447,533 1,603,418 Contractor's Fees 25,000 25,000 11,800 9,475 Engineering Fees 212,716 212,716 266,349 245,759 Oversized Vehicle Permits 16,000 16,000 21,210 22,040 Plan Fees 5,500 5,500 4,755 2,084 Total Licenses and Permits 2,695,242 2,695,242 2,754,448 2,114,688 VILLAGE OF GLENVIEW DETAILED SCHEDULE OF REVENUES AND OTHER FINANCING SOURCES For the Year Ended December 31, 2021 2021 Budgeted Amounts 118 BUDGET AND ACTUAL - GENERAL FUND With Comparative Actual Amounts for the Year Ended December 31, 2020 2020 Original Final Actual Actual VILLAGE OF GLENVIEW DETAILED SCHEDULE OF REVENUES AND OTHER FINANCING SOURCES For the Year Ended December 31, 2021 2021 Budgeted Amounts CHARGES FOR SERVICES Dog Impound Fees 1,000$ 1,000$ 540$ 620$ Lease Fees 979,881 979,881 873,516 795,291 Natural Gas Franchise Fees 35,000 35,000 34,321 37,174 Cable Franchise Fees 815,311 815,311 851,877 790,761 Development Fees - - 9,750 4,350 Insurance Reimbursements 1,764,534 1,764,534 1,645,162 1,625,502 Copies - - - 14 Special Event Fees 1,000 1,000 1,950 1,125 Inspection Fees 30,000 30,000 25,300 13,920 Refuse and Recycling Charges Yard Waste Sticker Sales 3,000 3,000 3,551 2,205 Tipping Fees 890,000 890,000 887,444 887,299 Joint Dispatch Charges 911 Surcharge 1,020,000 1,020,000 1,026,042 1,052,479 Dispatch Services 7,074,525 7,074,525 7,064,026 6,790,874 Other Service Charges Police Extra Duty 175,000 175,000 188,460 145,238 Fire Extra Duty - - 10,809 - Reimbursements 80,000 80,000 120,123 66,952 Other Charges - Supervision 6,000 6,000 3,430 429 Miscellaneous 69,000 69,000 112,093 47,593 Administrative Fees for Governmental Funds Library Fund 132,318 132,318 123,706 126,409 SWANCC Host Community Fees 116,227 116,227 118,752 117,417 Total Charges for Services 13,192,796 13,192,796 13,100,852 12,505,652 FINES AND FORFEITURES Traffic Fines 80,000 80,000 92,407 63,896 Other Fines 45,500 45,500 36,923 29,112 Total Fines and Forfeitures 125,500 125,500 129,330 93,008 119 BUDGET AND ACTUAL - GENERAL FUND With Comparative Actual Amounts for the Year Ended December 31, 2020 2020 Original Final Actual Actual VILLAGE OF GLENVIEW DETAILED SCHEDULE OF REVENUES AND OTHER FINANCING SOURCES For the Year Ended December 31, 2021 2021 Budgeted Amounts INTERGOVERNMENTAL Glenbrook Fire Protection District 2,450,000$ 2,450,000$ 2,720,618$ 2,335,000$ Village of Golf Fire Protection Services 143,000 143,000 107,250 143,000 Road and Bridge Taxes Current Year 450,000 450,000 490,740 459,115 Prior Year (4,500) (4,500) (7,814) (6,632) Sales Tax 18,081,056 20,603,237 21,727,766 18,206,509 Property Replacement Tax 185,434 185,434 384,258 227,358 Illinois Income Tax 4,409,919 5,159,919 6,356,983 5,147,028 Local Use Tax 1,851,371 1,851,371 1,867,089 2,040,735 Make-Whole Payment 1,652,893 1,652,893 1,629,425 1,614,249 Cannabis Use Tax 42,066 42,066 69,377 36,454 Other Intergovernmental Grant Proceeds 250,000 250,000 1,695,886 592,294 Total Intergovernmental 29,511,239 32,783,420 37,041,578 30,795,110 INVESTMENT INCOME Investment Income 310,000 310,000 16,387 302,855 Interest - Savings 75,000 75,000 13,732 84,038 Total Investment Income 385,000 385,000 30,119 386,893 OTHER FINANCING SOURCES Transfers In Wholesale Water Fund 325,000 325,000 325,000 325,000 Insurance and Risk Fund 250,000 250,000 250,000 250,000 Total Other Financing Sources 575,000 575,000 575,000 575,000 Total Revenues and Other Financing Sources 73,524,658$ 77,546,839$ 82,008,083$ 72,709,139$ 120 BUDGET AND ACTUAL - GENERAL FUND With Comparative Actual Amounts for the Year Ended December 31, 2020 2020 Original Final Actual Actual GENERAL GOVERNMENT Village Board of Trustees President and Board Personnel -$ -$ 24$ -$ Contractual Services - - 262 794 Total President and Board - - 286 794 Special Board Appropriations Personnel 105,243 105,243 20,757 5,451 Contractual Services 399,125 399,125 398,206 347,370 Commodities 912 912 3,245 - Total Special Board Appropriations 505,280 505,280 422,208 352,821 Total Village Board of Trustees 505,280 505,280 422,494 353,615 Village Manager's Office Administration Division Personnel 740,959 912,810 1,023,106 774,903 Contractual Services 112,588 112,588 117,237 122,930 Commodities 3,250 3,250 2,317 1,735 Other Charges 625 625 1,676 871 Total Administration Division 857,422 1,029,273 1,144,336 900,439 Human Resources Division Personnel 630,403 277,214 240,747 284,325 Contractual Services 7,469 7,469 40,089 4,938 Commodities 776 776 4,380 55 Other Charges 1,240,657 1,276,157 1,274,416 1,154,540 Total Human Resources Division 1,879,305 1,561,616 1,559,632 1,443,858 Communications Division Personnel 276,414 321,496 335,998 292,029 Contractual Services 90,518 90,518 91,961 92,448 Commodities 3,325 3,325 1,869 2,157 Other Charges 75 75 - 325 Total Communications Division 370,332 415,414 429,828 386,959 Legal Division Contractual Services 440,875 440,875 431,235 481,010 Total Legal Division 440,875 440,875 431,235 481,010 VILLAGE OF GLENVIEW DETAILED SCHEDULE OF EXPENDITURES AND OTHER FINANCING USES For the Year Ended December 31, 2021 2021 Budgeted Amounts 121 BUDGET AND ACTUAL - GENERAL FUND With Comparative Actual Amounts for the Year Ended December 31, 2020 2020 Original Final Actual Actual VILLAGE OF GLENVIEW DETAILED SCHEDULE OF EXPENDITURES AND OTHER FINANCING USES For the Year Ended December 31, 2021 2021 Budgeted Amounts GENERAL GOVERNMENT (cont.) Village Manager's Office (cont.) Joint Dispatch Division Personnel 5,990,757$ 6,353,739$ 6,386,442$ 5,878,827$ Contractual Services 213,368 213,368 140,958 200,418 Commodities 30,425 30,425 26,935 30,505 Other Charges 314,409 1,497,890 1,492,616 308,917 Total Joint Dispatch Division 6,548,959 8,095,422 8,046,951 6,418,667 Total Village Manager's Office 10,096,893 11,542,600 11,611,982 9,630,933 Administrative Services Administration Personnel 141,652 275,502 410,512 249,663 Contractual Services 5,785 5,785 1,818 2,596 Other Charges 10,515 10,515 9,258 95 Total Administration 157,952 291,802 421,588 252,354 Finance Personnel 23,739 23,838 24,003 30,010 Contractual Services 1,073,421 1,073,421 1,012,772 1,068,113 Other Charges 1,960 1,960 54 600 Total Finance 1,099,120 1,099,219 1,036,829 1,098,723 Police Records Personnel 419,596 480,542 455,643 391,411 Contractual Services 2,250 2,250 1,100 2,228 Commodities 500 500 751 906 Other Charges 570 570 524 697 Total Police Records 422,916 483,862 458,018 395,242 General Government Personnel (65,000) (65,000) - - Contractual Services 3,054,710 4,265,680 3,725,725 3,079,278 Commodities 47,250 47,250 12,895 40,846 Other Charges 490,435 329,526 300,397 290,695 Total General Government 3,527,395 4,577,456 4,039,017 3,410,819 122 BUDGET AND ACTUAL - GENERAL FUND With Comparative Actual Amounts for the Year Ended December 31, 2020 2020 Original Final Actual Actual VILLAGE OF GLENVIEW DETAILED SCHEDULE OF EXPENDITURES AND OTHER FINANCING USES For the Year Ended December 31, 2021 2021 Budgeted Amounts GENERAL GOVERNMENT (cont.) Administrative Services (cont.) Resolution Center Personnel 399,345$ 405,872$ 406,887$ 410,371$ Other Charges 340 340 54 5 Total Resolution Center 399,685 406,212 406,941 410,376 CADD Operations Contractual Services 193,981 193,981 194,007 185,619 Total CADD Operations 193,981 193,981 194,007 185,619 Information Technology (IT) Contractual Services 2,386,832 2,391,772 2,207,794 1,911,866 Commodities 115,690 115,690 71,097 75,768 Other Charges 403,987 403,987 401,491 406,456 Total Information Technology 2,906,509 2,911,449 2,680,382 2,394,090 Total Administrative Services 8,707,558 9,963,981 9,236,782 8,147,223 Total General Government 19,309,731 22,011,861 21,271,258 18,131,771 PUBLIC WORKS Public Works Department Personnel 1,522,955 1,584,683 1,491,156 2,257,371 Contractual Services 3,295,221 3,295,221 3,176,983 3,264,135 Commodities 1,238,253 1,255,422 1,226,274 1,160,338 Other Charges 979,306 979,306 977,105 812,665 Capital Outlay 80,000 80,000 104,499 58,114 Total Public Works Department 7,115,735 7,194,632 6,976,017 7,552,623 BUDGET AND ACTUAL - GENERAL FUND With Comparative Actual Amounts for the Year Ended December 31, 2020 2020 Original Final Actual Actual VILLAGE OF GLENVIEW DETAILED SCHEDULE OF EXPENDITURES AND OTHER FINANCING USES For the Year Ended December 31, 2021 2021 Budgeted Amounts PUBLIC SAFETY Police Department Personnel 10,189,091$ 10,758,492$ 10,427,096$ 10,105,227$ Contractual Services 593,544 593,544 567,023 550,945 Commodities 139,778 139,778 152,238 124,613 Other Charges 4,250,473 4,250,473 4,187,026 3,899,550 Total Police Department 15,172,886 15,742,287 15,333,383 14,680,335 Fire Department Personnel 12,019,180 12,943,134 13,071,977 12,718,156 Contractual Services 296,689 296,689 276,034 262,419 Commodities 295,276 295,276 308,505 334,140 Other Charges 7,119,925 7,119,925 7,076,378 6,324,374 Total Fire Department 19,731,070 20,655,024 20,732,894 19,639,089 Total Public Safety 34,903,956 36,397,311 36,066,277 34,319,424 DEVELOPMENTCommunity Development Department Administration Personnel 166,690 185,426 211,293 251,373 Contractual Services 64,976 168,276 168,528 156,854 Commodities - - 1,899 - Other Charges 15,442 571,564 236,265 38,960 Total Administration 247,108 925,266 617,985 447,187 Inspection Services Personnel 1,049,343 1,281,808 1,239,323 1,016,977 Contractual Services 570,586 570,586 539,071 459,599 Commodities 7,225 7,225 5,720 3,658 Other Charges 18,622 18,622 18,622 10,534 Total Inspection Services 1,645,776 1,878,241 1,802,736 1,490,768 Planning Personnel 442,449 454,777 467,942 379,789 Contractual Services 364,503 364,503 273,320 250,761 Other Charges 21,490 21,490 9,791 12,200 Total Planning 828,442 840,770 751,053 642,750 123 124 BUDGET AND ACTUAL - GENERAL FUND With Comparative Actual Amounts for the Year Ended December 31, 2020 2020 Original Final Actual Actual VILLAGE OF GLENVIEW DETAILED SCHEDULE OF EXPENDITURES AND OTHER FINANCING USES For the Year Ended December 31, 2021 2021 Budgeted Amounts DEVELOPMENT (cont.) Community Development Department (cont.) Capital Projects and Engineering Personnel 160,052$ 168,380$ 167,132$ 182,184$ Contractual Services 581,445 581,445 540,210 541,575 Commodities 180 180 179 - Other Charges 6,638 6,638 6,638 2,510 Total Capital Projects and Engineering 748,315 756,643 714,159 726,269 Total Development 3,469,641 4,400,920 3,885,933 3,306,974 Total Expenditures 64,799,063 70,004,724 68,199,485 63,310,792 OTHER FINANCING USES Transfers Out Corporate Purpose Debt Service Fund 2,213,032 2,213,032 2,229,847 2,260,749 Capital Projects Fund 6,500,000 6,500,000 6,500,000 10,000,000 Total Other Financing Uses 8,713,032 8,713,032 8,729,847 12,260,749 Total Expenditures and Other Financing Uses 73,512,095$ 78,717,756$ 76,929,332$ 75,571,541$ GOVERNMENTAL FUND DESCRIPTIONS NONMAJOR FUNDS NONMAJOR SPECIAL REVENUE FUNDS Motor Fuel Tax Fund - to account for revenues received from the state of Illinois for the local share of the motor fuel tax collections and used for street maintenance and construction. State law requires that these gasoline taxes be used to maintain streets. Foreign Fire Insurance Fund - to account for a 2% charge imposed by the state on insurance premiums received from companies not incorporated in the state of Illinois but that are engaged in providing fire insurance in the Village. These special revenues are restricted to fire department expenditures approved by the Foreign Fire Insurance Board. Police Department Special Account Fund - to account for revenues received from the office of the Illinois State Police, which are restricted to various types of investigations. Waukegan Golf TIF Fund - to account for the incremental property tax revenue that is generated through the growth of the assessed valuations at the redeveloped area near the northeast corner of the Waukegan Road and Golf road intersection. NONMAJOR DEBT SERVICE FUND Corporate Purpose Bonds Fund - to account for the accumulation of monies for payment of principal and interest on bonded debt paid from governmental fund resources. NONMAJOR CAPITAL PROJECTS FUND Glen Capital Projects Fund - (formerly called the “1995 GNAS Bond Projects Fund”) – to account for expenditures related to various development projects related to The Glen. VILLAGE OF GLENVIEW COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS As of December 31, 2021 Motor Fuel Tax Fund Foreign Fire Insurance Fund Police Department Special Account Fund Waukegan Golf TIF Fund ASSETS Cash and Cash Equivalents $2,305,417 $240,706 $30,009 $4,224,786 Investments ---1,961,950 Receivables Accounts 67,886 --- Accrued Interest ---16,281 Due from Other Governments 173,810 --- Due from Other Funds ---5 TOTAL ASSETS $2,547,113 $240,706 $30,009 $6,203,022 LIABILITIES AND FUND BALANCES Liabilities Accounts Payable $92,721 $-$7,788 $190,662 Accrued Payroll ---161 Other Payables 205,357 --- Due to Other Funds ---- Total Liabilities 298,078 -7,788 190,823 Fund Balances Restricted for Street Improvements 2,249,035 --- Restricted for Public Safety -240,706 22,221 - Restricted for Economic Development ---6,012,199 Assigned to Debt Service Funds ---- Total Fund Balances 2,249,035 240,706 22,221 6,012,199 TOTAL LIABILITIES AND FUND BALANCES $2,547,113 $240,706 $30,009 $6,203,022 125 Corporate Purpose Bonds Fund Glen Capital Projects Fund Total Nonmajor Governmental Funds $564,772 $-$7,365,690 --1,961,950 --67,886 --16,281 --173,810 7,840 -7,845 $572,612 $-$9,593,462 $1,500 $-$292,671 --161 --205,357 146 -146 1,646 -498,335 --2,249,035 --262,927 --6,012,199 570,966 -570,966 570,966 -9,095,127 $572,612 $-$9,593,462 126 VILLAGE OF GLENVIEW COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NONMAJOR GOVERNMENTAL FUNDS For the Year Ended December 31, 2021 Motor Fuel Tax Fund Foreign Fire Insurance Fund Police Department Special Account Fund Waukegan Golf TIF Fund REVENUES Property Taxes $-$-$-$2,674,563 Intergovernmental 3,736,105 143,172 -- Investment Income 2,388 545 79 1,835 Miscellaneous 799 -3,359 - Total Revenues 3,739,292 143,717 3,438 2,676,398 EXPENDITURES Current Public Safety -117,247 -- Development ---208,310 Capital Outlay 2,299,508 -7,788 - Debt Service Principal ---640,000 Interest and Fiscal Charges ---65,200 Total Expenditures 2,299,508 117,247 7,788 913,510 Excess (Deficiency) of Revenues over Expenditures 1,439,784 26,470 (4,350)1,762,888 OTHER FINANCING SOURCES (USES) Transfers In ---- Transfers Out ---- Total Other Financing Sources (Uses)---- Net Change in Fund Balances 1,439,784 26,470 (4,350)1,762,888 FUND BALANCES - Beginning of Year 809,251 214,236 26,571 4,249,311 FUND BALANCES - END OF YEAR $2,249,035 $240,706 $22,221 $6,012,199 127 Corporate Purpose Bonds Fund Glen Capital Projects Fund Total Nonmajor Governmental Funds $-$-$2,674,563 --3,879,277 675 257 5,779 --4,158 675 257 6,563,777 --117,247 --208,310 --2,307,296 1,810,000 -2,450,000 404,973 -470,173 2,214,973 -5,553,026 (2,214,298)257 1,010,751 2,229,847 -2,229,847 -(104,290)(104,290) 2,229,847 (104,290)2,125,557 15,549 (104,033)3,136,308 555,417 104,033 5,958,819 $570,966 $-$9,095,127 128 VILLAGE OF GLENVIEW DETAILED SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL - MOTOR FUEL TAX FUND - NONMAJOR SPECIAL REVENUE FUND For the Year Ended December 31, 2021 With Comparative Actual Amounts for the Year Ended December 31, 2020 2021 Budgeted Amounts Original Final Actual 2020 Actual REVENUES Intergovenmental Motor Fuel Tax $2,620,102 $2,620,102 $3,736,105 $3,483,094 Investment Income 22,400 22,400 2,388 20,386 Miscellaneous --799 - Total Revenues 2,642,502 2,642,502 3,739,292 3,503,480 EXPENDITURES Capital Outlay 2,620,102 2,620,102 2,299,508 4,276,053 Total Expenditures 2,620,102 2,620,102 2,299,508 4,276,053 Excess (Deficiency) of Revenues over Expenditures 22,400 22,400 1,439,784 (772,573) OTHER FINANCING SOURCES (USES) Transfers In General Fund ---420,000 Transfers Out Capital Projects Fund ---(1,026,783) Total Other Financing Sources (Uses)---(606,783) Net Change in Fund Balance $22,400 $22,400 1,439,784 (1,379,356) FUND BALANCE - Beginning of Year 809,251 2,188,607 FUND BALANCE - END OF YEAR $2,249,035 $809,251 129 VILLAGE OF GLENVIEW DETAILED SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL - FOREIGN FIRE INSURANCE FUND - NONMAJOR SPECIAL REVENUE FUND For the Year Ended December 31, 2021 With Comparative Actual Amounts for the Year Ended December 31, 2020 2021 Budgeted Amounts Original Final Actual 2020 Actual REVENUES Intergovernmental $155,000 $155,000 $143,172 $144,761 Investment Income 1,800 1,800 545 1,614 Total Revenues 156,800 156,800 143,717 146,375 EXPENDITURES Public Safety Contractual Services 15,053 15,053 13,768 13,899 Commodities 99,090 99,090 103,479 168,724 Total Expenditures 114,143 114,143 117,247 182,623 Net Change in Fund Balance $42,657 $42,657 26,470 (36,248) FUND BALANCE - Beginning of Year 214,236 250,484 FUND BALANCE - END OF YEAR $240,706 $214,236 130 VILLAGE OF GLENVIEW DETAILED SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL - POLICE DEPARTMENT SPECIAL ACCOUNT FUND - NONMAJOR SPECIAL REVENUE FUND For the Year Ended December 31, 2021 With Comparative Actual Amounts for the Year Ended December 31, 2020 2021 Budgeted Amounts Original Final Actual 2020 Actual REVENUES Investment Income $310 $310 $79 $215 Other Revenues --3,359 246 Total Revenues 310 310 3,438 461 EXPENDITURES Capital Outlay 19,890 19,890 7,788 - Total Expenditures 19,890 19,890 7,788 - Net Change in Fund Balance $(19,580)$(19,580)(4,350)461 FUND BALANCE - Beginning of Year 26,571 26,110 FUND BALANCE - END OF YEAR $22,221 $26,571 131 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, 2021 With Comparative Actual Amounts for the Year Ended December 31, 2020 2021 Budgeted Amounts Original Final Actual 2020 Actual REVENUES Property Taxes - Incremental $2,265,201 $2,265,201 $2,674,563 $2,265,201 Investment Income 25,500 25,500 1,835 27,758 Total Revenues 2,290,701 2,290,701 2,676,398 2,292,959 EXPENDITURES Community Development Personnel 9,496 9,496 9,601 12,004 Contractual Services 402,421 402,421 198,709 164,402 Total Community Development 411,917 411,917 208,310 176,406 Debt Service Principal 640,000 640,000 640,000 620,000 Interest and Fiscal Charges 65,200 65,200 65,200 81,940 Total Expenditures 1,117,117 1,117,117 913,510 878,346 Net Change in Fund Balance $1,173,584 $1,173,584 1,762,888 1,414,613 FUND BALANCE - Beginning of Year 4,249,311 2,834,698 FUND BALANCE - END OF YEAR $6,012,199 $4,249,311 132 VILLAGE OF GLENVIEW DETAILED SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL - CORPORATE PURPOSE BONDS FUND - NONMAJOR DEBT SERVICE FUND For the Year Ended December 31, 2021 With Comparative Actual Amounts for the Year Ended December 31, 2020 2021 Budgeted Amounts Original Final Actual 2020 Actual REVENUES Investment Income $7,010 $7,010 $675 $6,118 Total Revenues 7,010 7,010 675 6,118 EXPENDITURES Debt Service Principal 1,810,000 1,810,000 1,810,000 1,740,000 Interest and Fiscal Charges 404,972 404,972 404,973 471,923 Total Expenditures 2,214,972 2,214,972 2,214,973 2,211,923 Deficiency of Revenues under Expenditures (2,207,962)(2,207,962)(2,214,298)(2,205,805) OTHER FINANCING SOURCES Transfers In General Fund 2,213,032 2,213,032 2,229,847 2,260,749 Total Other Financing Sources 2,213,032 2,213,032 2,229,847 2,260,749 Net Change in Fund Balance $5,070 $5,070 15,549 54,944 FUND BALANCE - Beginning of Year 555,417 500,473 FUND BALANCE - END OF YEAR $570,966 $555,417 133 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, 2021 With Comparative Actual Amounts for the Year Ended December 31, 2020 2021 Budgeted Amounts Original Final Actual 2020 Actual REVENUES Investment Income $1,000 $1,000 $257 $823 Development - Other Revenues ---3,038 Total Revenues 1,000 1,000 257 3,861 EXPENDITURES Total Expenditures ---- Excess of Revenues over Expenditures 1,000 1,000 257 3,861 OTHER FINANCING USES Transfers Out Special Tax Allocation Fund --(104,290)- Total Other Financing Uses --(104,290)- Net Change in Fund Balance $1,000 $1,000 (104,033)3,861 FUND BALANCE - Beginning of Year 104,033 100,172 FUND BALANCE - END OF YEAR $-$104,033 134 GOVERNMENTAL FUND DESCRIPTIONS MAJOR 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. 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 - CAPITAL PROJECTS FUND - MAJOR CAPITAL PROJECTS FUND For the Year Ended December 31, 2021 With Comparative Actual Amounts for the Year Ended December 31, 2020 2021 Budgeted Amounts Original Final Actual 2020 Actual REVENUES Intergovernmental - Grants $927,043 $927,043 $209,243 $144,522 Investment Income 10,000 10,000 2,572 9,336 Other Revenues 273,200 273,200 25,319 - Development - Other Revenues --15,037 159,014 Total Revenues 1,210,243 1,210,243 252,171 312,872 EXPENDITURES Capital Outlay 11,363,071 11,355,759 7,337,090 8,880,603 Debt Service Principal 24,371 24,371 24,371 24,371 Total Expenditures 11,387,442 11,380,130 7,361,461 8,904,974 Deficiency of Revenues under Expenditures (10,177,199)(10,169,887)(7,109,290)(8,592,102) OTHER FINANCING SOURCES (USES) Transfers In General Fund 6,500,000 6,500,000 6,500,000 10,000,000 Wholesale Water Fund 590,215 590,215 590,215 573,024 Village Permanent Fund 1,000,000 1,000,000 -- Motor Fuel Tax Fund ---1,026,783 Transfers out Capital Projects Fund ---(420,000) Total Other Financing Sources (Uses)8,090,215 8,090,215 7,090,215 11,179,807 Net Change in Fund Balance $(2,086,984)$(2,079,672)(19,075)2,587,705 FUND BALANCE - Beginning of Year 4,863,265 2,275,560 FUND BALANCE - END OF YEAR $4,844,190 $4,863,265 135 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, 2021 With Comparative Actual Amounts for the Year Ended December 31, 2020 2021 Budgeted Amounts Original Final Actual 2020 Actual REVENUES Lease Fees $156,000 $156,000 $-$- Investment Income (Loss)100,000 100,000 (12,178)272,082 Other Revenues --4,039 - Total Revenues 256,000 256,000 (8,139)272,082 EXPENDITURES Community Development Contractual Services 131,421 131,421 60,023 - Total Expenditures 131,421 131,421 60,023 - Excess (Deficiency) of Revenues over (under) Expenditures 124,579 124,579 (68,162)272,082 OTHER FINANCING SOURCES (USES) Property Sales 1,535,518 1,535,518 -- Transfers Out Capital Projects Fund (1,000,000)(1,000,000)-- Total Other Financing Sources (Uses)535,518 535,518 -- Net Change in Fund Balance $660,097 $660,097 (68,162)272,082 FUND BALANCE - Beginning of Year 29,787,340 29,515,258 FUND BALANCE - END OF YEAR $29,719,178 $29,787,340 136 ENTERPRISE FUND DESCRIPTIONS Enterprise funds are proprietary funds established to account for the financing of self-supporting activities NONMAJOR ENTERPRISE FUNDS Wholesale Water Fund - to account for the operations associated with the purchase of water from the Village of Wilmette for sale to other water systems. 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, 2021 Wholesale Water Fund Commuter Parking Lot Fund Total Nonmajor Enterprise Funds ASSETS Current Assets Cash and Cash Equivalents $1,947,345 $970,540 $2,917,885 Investments 981,112 -981,112 Receivables Accounts 882,988 -882,988 Accrued Interest 7,640 -7,640 Total Current Assets 3,819,085 970,540 4,789,625 Noncurrent Assets Capital Assets Land -500,000 500,000 Buildings and Improvements -2,989,930 2,989,930 Machinery, Equipment and Furnishings -13,283 13,283 Water System 2,512,633 -2,512,633 Less: Accumulated Depreciation (1,807,960)(1,319,667)(3,127,627) Total Noncurrent Assets 704,673 2,183,546 2,888,219 Total Assets 4,523,758 3,154,086 7,677,844 DEFERRED OUTFLOWS OF RESOURCES Deferred Outflows Related to OPEB 2,453 1,288 3,741 Total Deferred Outflows of Resources 2,453 1,288 3,741 LIABILITIES Current Liabilities Accounts Payable 417,564 19,385 436,949 Accrued Payroll 2,249 1,183 3,432 Accrued Expenses 17 73 90 Compensated Absences - Current 1,459 643 2,102 Total Current Liabilities 421,289 21,284 442,573 Noncurrent Liabilities Long-Term Debt Compensated Absences 5,836 2,573 8,409 Total OPEB Liability 11,184 5,872 17,056 Total Noncurrent Liabilities 17,020 8,445 25,465 Total Liabilities 438,309 29,729 468,038 DEFERRED INFLOWS OF RESOURCES Deferred Inflows Related to OPEB 1,098 577 1,675 Total Deferred Inflows of Resources 1,098 577 1,675 NET POSITION Net Investment in Capital Assets 704,673 2,183,546 2,888,219 Unrestricted 3,382,131 941,522 4,323,653 TOTAL NET POSITION $4,086,804 $3,125,068 $7,211,872 137 138 NONMAJOR ENTERPRISE FUNDS Commuter Total Nonmajor Wholesale Parking Lot Enterprise Water Fund Fund Funds OPERATING REVENUES Charges for Sales and Services Parking Meter Fees -$ 35,366$ 35,366$ Parking Decals - 105,007 105,007 Water Charges 5,996,829 - 5,996,829 Total Charges for Sales and Services 5,996,829 140,373 6,137,202 Miscellaneous Revenue 296 216,843 217,139 Total Operating Revenues 5,997,125 357,216 6,354,341 OPERATING EXPENSES Operations 2,921,069 544,995 3,466,064 Depreciation and Amortization 62,816 92,392 155,208 Total Operating Expenses 2,983,885 637,387 3,621,272 Operating Income (Loss)3,013,240 (280,171) 2,733,069 NON-OPERATING REVENUES Investment Income (890) 252 (638) Total Non-Operating Revenues (890) 252 (638) Net Income (Loss) Before Transfers 3,012,350 (279,919) 2,732,431 TRANSFERS Transfers Out (1,532,215) - (1,532,215) Change in Net Position 1,480,135 (279,919) 1,200,216 NET POSITION - Beginning of Year 2,606,669 3,404,987 6,011,656 NET POSITION - END OF YEAR 4,086,804$ 3,125,068$ 7,211,872$ VILLAGE OF GLENVIEW COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION As of December 31, 2021 VILLAGE OF GLENVIEW COMBINING STATEMENT OF CASH FLOWS NONMAJOR ENTERPRISE FUNDS For the Year Ended December 31, 2021 Wholesale Water Fund Commuter Parking Lot Fund Totals CASH FLOWS FROM OPERATING ACTIVITIES Received from Customers $6,124,785 $357,689 $6,482,474 Paid to Suppliers for Goods and Services (2,604,269)(587,793)(3,192,062) Paid to Employees for Services (126,611)(77,229)(203,840) Net Cash Flows From Operating Activities 3,393,905 (307,333)3,086,572 CASH FLOWS FROM INVESTING ACTIVITIES Investment Income (8,530)252 (8,278) Purchase of Investments (981,112)-(981,112) Net Cash Flows From Investing Activities (989,642)252 (989,390) CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Transfers Out (1,532,215)-(1,532,215) Net Cash Flows From Noncapital Financing Activities (1,532,215)-(1,532,215) CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Acquisition and Construction of Capital Assets -(85,010)(85,010) Net Cash Flows From Capital and Related Financing Activities -(85,010)(85,010) Net Change in Cash and Cash Equivalents 872,048 (392,091)479,957 CASH AND CASH EQUIVALENTS - Beginning of Year 1,075,297 1,362,631 2,437,928 CASH AND CASH EQUIVALENTS - END OF YEAR $1,947,345 $970,540 $2,917,885 RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH FLOWS FROM OPERATING ACTIVITIES Operating Income (Loss)$3,013,240 $(280,171)$2,733,069 Adjustments to Reconcile Operating Income (Loss) to Net Cash Flows From Operating Activities Depreciation 62,816 92,392 155,208 Changes in Assets and Liabilities Accounts Receivable 127,660 473 128,133 Accounts Payable 190,928 (18,748)172,180 Accrued Salaries 775 285 1,060 Accrued Expenses (1,511)(101,213)(102,724) Compensated Absences Payable (179)(769)(948) Total OPEB Liability 105 428 533 Deferred Outflows Related to OPEB 262 46 308 Deferred Inflows Related to OPEB (191)(56)(247) NET CASH FLOWS FROM OPERATING ACTIVITIES $3,393,905 $(307,333)$3,086,572 NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES None 139 140 WHOLESALE WATER FUND - NONMAJOR ENTERPRISE FUND With Comparative Actual Amounts for the Year Ended December 31, 2020 2020 Original Final Actual ActualOPERATING REVENUES Charges for Sales and Services Water Charges 6,241,615$ 6,241,615$ 5,996,829$ 4,408,385$ Total Operating Revenue 6,241,615 6,241,615 5,996,829 4,408,385 Miscellaneous Revenue Other Revenues - - 296 - Total Miscellaneous Revenue - - 296 - Total Operating Revenues 6,241,615 6,241,615 5,997,125 4,408,385 OPERATING EXPENSES Water Services Personnel 125,479 125,479 127,383 121,095 Contractual Services 1,340,813 1,340,813 1,276,611 1,270,309 Commodities 1,872,232 1,872,232 1,489,042 861,845 Other Charges 28,033 28,033 28,033 20,673 Total Operating Expenses 3,366,557 3,366,557 2,921,069 2,273,922 Operating Income 2,875,058 2,875,058 3,076,056 2,134,463 NON-OPERATING REVENUES Investment Income (Loss)4,000 4,000 (890) 2,280 Total Non-Operating Revenues (Expenses)4,000 4,000 (890) 2,280 Net Income Before Transfers 2,879,058 2,879,058 3,075,166 2,136,743 TRANSFERS OUTGeneral Fund (325,000) (325,000) (325,000) (325,000) Capital Projects Fund (590,215) (590,215) (590,215) (573,024) Glenview Water Fund (617,000) (617,000) (617,000) (251,950) Total Transfers Out (1,532,215) (1,532,215) (1,532,215) (1,149,974) Change in Net Position - Budgetary Basis 1,346,843$ 1,346,843$ 1,542,951 986,769 ADJUSTMENTS TO GAAP BASIS Depreciation and Amortization (62,816) (62,816) Change in Net Position - GAAP Basis 1,480,135 923,953 NET POSITION - Beginning of Year 2,606,669 1,682,716 NET POSITION - END OF YEAR 4,086,804$ 2,606,669$ VILLAGE OF GLENVIEW DETAILED SCHEDULE OF REVENUES, EXPENSES AND CHANGES IN NET POSITION - BUDGET AND ACTUAL (Budgetary Basis) For the Year Ended December 31, 2021 2021 Budgeted Amount 141 COMMUTER PARKING LOT FUND - NONMAJOR ENTERPRISE FUND With Comparative Actual Amounts for the Year Ended December 31, 2020 2020 Original Final Actual ActualOPERATING REVENUES Charges for Sales and Services Parking Meter Fees 79,750$ 79,750$ 35,366$ 70,064$ Parking Decals 123,630 123,630 105,007 79,843 Total Charges for Sales and Services 203,380 203,380 140,373 149,907 Miscellaneous Revenue Vendor Lease Rental Fee 7,560 7,560 - 3,260 Other Revenues - - 216,843 120 Total Miscellaneous Revenue 7,560 7,560 216,843 3,380 Total Operating Revenues 210,940 210,940 357,216 153,287 OPERATING EXPENSES Parking Services Personnel 68,586 68,586 76,878 91,862 Contractual Services 197,576 197,576 180,731 210,086 Commodities 58,100 58,100 39,430 42,517 Other Charges 248,398 248,398 247,956 249,601 Capital Outlay - - - 185,314 Total Operating Expenses 572,660 572,660 544,995 779,380 Operating Income (Loss)(361,720) (361,720) (187,779) (626,093) NON-OPERATING REVENUES Investment Income 17,900 17,900 252 7,882 Total Non-Operating Revenues 17,900 17,900 252 7,882 Net Income (Loss) Before Transfers (343,820) (343,820) (187,527) (618,211) Change in Net Position - Budgetary Basis (343,820)$ (343,820)$ (187,527) (618,211) ADJUSTMENTS TO GAAP BASIS Acquisition of Capital Assets - 185,314 Depreciation and Amortization (92,392) (92,392) Change in Net Position - GAAP Basis (279,919) (525,289) NET POSITION - Beginning of Year 3,404,987 3,930,276 NET POSITION - END OF YEAR 3,125,068$ 3,404,987$ VILLAGE OF GLENVIEW DETAILED SCHEDULE OF REVENUES, EXPENSES AND CHANGES IN NET POSITION - BUDGET AND ACTUAL (Budgetary Basis) For the Year Ended December 31, 2021 2021 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. 142 GLENVIEW WATER FUND - MAJOR ENTERPRISE FUND With Comparative Actual Amounts for the Year Ended December 31, 2020 2020 Original Final Actual ActualOPERATING REVENUES Charges for Sales and Services Water Charges 15,253,004$ 15,253,004$ 16,752,364$ 15,556,236$ Water Connection Charges 85,000 85,000 133,859 83,626 Water Meter and Remote Readers 3,700 3,700 3,067 1,723 Total Charges for Sales and Services 15,341,704 15,341,704 16,889,290 15,641,585 Miscellaneous RevenueLate Payment Fees 216,041 216,041 205,363 149,202 Water for Construction 15,000 15,000 77,953 34,862 Other 48,684 48,684 85,827 49,387 Total Miscellaneous Revenue 279,725 279,725 369,143 233,451 Total Operating Revenues 15,621,429 15,621,429 17,258,433 15,875,036 OPERATING EXPENSES Water Services Personnel 2,896,813 2,896,813 2,756,901 2,469,334 Contractual Services 5,687,788 5,687,788 5,387,155 5,250,710 Commodities 857,258 857,258 776,731 748,893 Other Charges 1,289,695 1,289,695 1,286,502 747,517 Capital Outlay 5,714,098 5,714,098 4,720,431 4,119,762 Total Operating Expenses 16,445,652 16,445,652 14,927,720 13,336,216 Operating Income (Loss)(824,223) (824,223) 2,330,713 2,538,820 VILLAGE OF GLENVIEW DETAILED SCHEDULE OF REVENUES, EXPENSES AND CHANGES IN NET POSITION - BUDGET AND ACTUAL (Budgetary Basis) For the Year Ended December 31, 2021 2021 Budgeted Amount 143 GLENVIEW WATER FUND - MAJOR ENTERPRISE FUND With Comparative Actual Amounts for the Year Ended December 31, 2020 2020 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, 2021 2021 Budgeted Amount NON-OPERATING REVENUES (EXPENSES)Investment Income 45,000$ 45,000$ 2,360$ 60,789$ Debt Service Principal (928,253) (928,253) (1,031,392) (843,866) Interest and Fiscal Charges (82,419) (82,419) (80,521) (95,146) Total Non-Operating Revenues (Expenses)(965,672) (965,672) (1,109,553) (878,223) Net Income (Loss) Before Contributions and Transfers (1,789,895) (1,789,895) 1,221,160 1,660,597 CONTRIBUTIONS AND TRANSFERS IN Glenview Sanitary Sewer Fund - - 103,139 84,387 Wholesale Water Fund 617,000 617,000 617,000 251,950 Total Contributions and Transfers In 617,000 617,000 720,139 336,337 Change in Net Position - Budgetary Basis (1,172,895)$ (1,172,895)$ 1,941,299 1,996,934 ADJUSTMENTS TO GAAP BASIS Acquisition of Capital Assets 2,466,996 1,818,770 Depreciation and Amortization (1,461,022) (1,428,563) Principal Expense 1,031,392 843,866 Change in Net Position - GAAP Basis 3,978,665 3,231,007 NET POSITION - Beginning of Year 44,622,254 41,391,247 NET POSITION - END OF YEAR 48,600,919$ 44,622,254$ 144 GLENVIEW SANITARY SEWER FUND - MAJOR ENTERPRISE FUND With Comparative Actual Amounts for the Year Ended December 31, 2020 2020 Original Final Actual ActualOPERATING REVENUESCharges for Sales and Services Sewer Charges 2,467,592$ 2,467,592$ 2,609,168$ 2,467,581$ Sewer Connection Charges 8,000 8,000 9,563 9,660 Total Charges for Sales and Services 2,475,592 2,475,592 2,618,731 2,477,241 Miscellaneous Revenue Other 70,644 70,644 82,755 73,072 Total Miscellaneous Revenue 70,644 70,644 82,755 73,072 Total Operating Revenues 2,546,236 2,546,236 2,701,486 2,550,313 OPERATING EXPENSES Sewerage ServicesPersonnel 502,083 502,083 436,221 522,675 Contractual Services 423,203 423,203 298,075 188,589 Commodities 71,663 71,663 53,797 57,275 Other Charges 153,296 153,296 154,499 114,152 Capital Outlay 1,883,877 1,883,877 1,042,238 1,032,739 Total Operating Expenses 3,034,122 3,034,122 1,984,830 1,915,430 Operating Income (Loss)(487,886) (487,886) 716,656 634,883 NON-OPERATING REVENUES (EXPENSES)Fines and Fees 5,000 5,000 12,667 14,257 Heatherfield Investment Income 4,000 4,000 (3,125) 13,100 Debt Service Principal (103,139) (103,139) - - Interest and Fiscal Charges (9,158) (9,158) (9,119) (10,816) Total Non-Operating Revenues (Expenses)(103,297) (103,297) 423 16,541 Net Income (Loss) Before Contributions and Transfers (591,183) (591,183) 717,079 651,424 CONTRIBUTIONS AND TRANSFERS (OUT) Capital Contributions - - - - Glenview Water Fund - - (103,139) (84,387) Total Contributions and Transfers In (Out)- - (103,139) (84,387) Change in Net Position - Budgetary Basis (591,183)$ (591,183)$ 613,940 567,037 ADJUSTMENTS TO GAAP BASIS Acquisition of Capital Assets 252,930 441,745 Depreciation and Amortization (531,404) (526,345) Change in Net Position - GAAP Basis 335,466 482,437 NET POSITION - Beginning of Year 20,774,921 20,292,484 NET POSITION - END OF YEAR 21,110,387$ 20,774,921$ VILLAGE OF GLENVIEW DETAILED SCHEDULE OF REVENUES, EXPENSES AND CHANGES IN NET POSITION - BUDGET AND ACTUAL (Budgetary Basis) For the Year Ended December 31, 2021 2021 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, 2021 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 $3,753,649 $193,528 $4,993,858 $3,740,840 $12,681,875 Investments 1,963,235 -2,945,357 1,230,112 6,138,704 Receivables Accounts -77,427 51,437 -128,864 Accrued Interest 15,287 -22,934 7,640 45,861 Other --60,000 -60,000 Prepaid Items 2,044,720 -165,159 -2,209,879 Inventories -446,363 --446,363 Deposits --578,031 -578,031 Total Current Assets 7,776,891 717,318 8,816,776 4,978,592 22,289,577 LIABILITIES Current Liabilities Accounts Payable 103,663 125,777 160,742 856,937 1,247,119 Accrued Payroll -9,008 4,927 248 14,183 Accrued Expenses 22,543 6,178 3,179 -31,900 Claims Payable --478,578 -478,578 Total Current Liabilities 126,206 140,963 647,426 857,185 1,771,780 Noncurrent Liabilities Claims Payable --717,866 -717,866 Total Noncurrent Liabilities --717,866 -717,866 Total Liabilities 126,206 140,963 1,365,292 857,185 2,489,646 NET POSITION Unrestricted 7,650,685 576,355 7,451,484 4,121,407 19,799,931 TOTAL NET POSITION $7,650,685 $576,355 $7,451,484 $4,121,407 $19,799,931 145 VILLAGE OF GLENVIEW COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION INTERNAL SERVICE FUNDS For the Year Ended December 31, 2021 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 $2,153,193 $1,366,207 $8,149,017 $1,520,018 $13,188,435 Miscellaneous 619 118,178 4,993 1,794 125,584 Total Operating Revenues 2,153,812 1,484,385 8,154,010 1,521,812 13,314,019 OPERATING EXPENSES Personnel -454,910 616,288 19,123 1,090,321 Contractual Services -319,216 7,617,632 1,558,376 9,495,224 Commodities 170,888 481,290 --652,178 Other Charges -73,115 --73,115 Capital Outlay 87,402 --20,671 108,073 Total Operating Expenses 258,290 1,328,531 8,233,920 1,598,170 11,418,911 Operating Income (Loss)1,895,522 155,854 (79,910)(76,358)1,895,108 NONOPERATING REVENUES Investment Income 13,692 23 451,094 7,875 472,684 Gain on Sale of Capital Assets 32,299 ---32,299 Reassignment of Capital Assets (2,520,239)---(2,520,239) Total Nonoperating Revenues (2,474,248)23 451,094 7,875 (2,015,256) Income (Loss) Before Transfers (578,726)155,877 371,184 (68,483)(120,148) TRANSFERS Transfers Out --(250,000)-(250,000) Total Transfers --(250,000)-(250,000) Change in net position (578,726)155,877 121,184 (68,483)(370,148) NET POSITION - Beginning of Year 8,229,411 420,478 7,330,300 4,189,890 20,170,079 NET POSITION - END OF YEAR $7,650,685 $576,355 $7,451,484 $4,121,407 $19,799,931 146 VILLAGE OF GLENVIEW COMBINING STATEMENT OF CASH FLOWS INTERNAL SERVICE FUNDS For the Year Ended December 31, 2021 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 $2,153,812 $1,427,940 $8,083,890 $1,521,812 $13,187,454 Paid to Suppliers for Goods and Services (1,303,681)(882,818)(8,118,405)(744,702)(11,049,606) Paid to Employees for Services -(451,612)(614,271)-(1,065,883) Net Cash Flows From Operating Activities 850,131 93,510 (648,786)777,110 1,071,965 CASH FLOWS FROM INVESTING ACTIVITIES Investment Income 52,038 23 428,160 25,668 505,889 Sale of Investments 1,930,023 --968,200 2,898,223 Purchase of Investments (1,963,235)-(2,945,357)(981,112)(5,889,704) Net Cash Flows From Investing Activities 18,826 23 (2,517,197)12,756 (2,485,592) CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Transfers Out --(250,000)-(250,000) Net Cash Flows From Noncapital Financing Activities --(250,000)-(250,000) CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Proceeds from Sale of Capital Assets 32,299 ---32,299 Acquisition and Construction of Capital Assets (2,466,256)---(2,466,256) Net Cash Flows From Capital and Related Financing Activities (2,433,957)---(2,433,957) Net Change in Cash and Cash Equivalents (1,565,000)93,533 (3,415,983)789,866 (4,097,584) CASH AND CASH EQUIVALENTS - Beginning of Year 5,318,649 99,995 8,409,841 2,950,974 16,779,459 CASH AND CASH EQUIVALENTS - END OF YEAR $3,753,649 $193,528 $4,993,858 $3,740,840 $12,681,875 147 VILLAGE OF GLENVIEW COMBINING STATEMENT OF CASH FLOWS INTERNAL SERVICE FUNDS For the Year Ended December 31, 2021 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)$1,895,522 $155,854 $(79,910)$(76,358)$1,895,108 Changes in assets and liabilities Accounts Receivable -(56,445)(51,437)-(107,882) Inventory -(17,142)--(17,142) Deposits --3,156 -3,156 Prepaid Items (993,139)-448 -(992,691) Accounts Payable (67,597)7,945 (496,372)853,435 297,411 Claims Payable --813 -813 Accrued Salaries -3,298 2,017 33 5,348 Accrued Expenses 15,345 ---15,345 Due to Other Funds --(5,662)-(5,662) Unearned Revenues --(21,839)-(21,839) NET CASH FLOWS FROM OPERATING ACTIVITIES $850,131 $93,510 $(648,786)$777,110 $1,071,965 NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES None 148 VILLAGE OF GLENVIEW DETAILED SCHEDULE OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION - BUDGET AND ACTUAL CAPITAL EQUIPMENT REPLACEMENT FUND (CERF) - INTERNAL SERVICE FUND For the Year Ended December 31, 2021 With Comparative Actual Amounts for the Year Ended December 31, 2020 2021 Budgeted Amounts Original Final Actual 2020 Actual OPERATING REVENUES Charges for Services CERF Charges $2,153,193 $2,153,193 $2,153,193 $2,153,193 Other Revenues --619 - Total Operating Revenues 2,153,193 2,153,193 2,153,812 2,153,193 OPERATING EXPENSES Commodities 224,043 224,043 170,888 254,482 Machinery and Equipment 49,454 49,454 1,365 22,078 Computer Servers 90,589 90,589 44,273 5,654 Vehicles 1,630,026 2,029,491 41,554 567,239 System Improvements -569,457 -- Electronic Equipment and Supplies --210 - Total Operating Expenses 1,994,112 2,963,034 258,290 849,453 Operating Income (Loss)159,081 (809,841)1,895,522 1,303,740 NON-OPERATING REVENUES Investment Income 56,000 56,000 13,692 88,991 Gain on Sale of Capital Assets 7,000 7,000 32,299 91,714 Reassignment of Capital Assets --(2,520,239)(1,023,068) Total Non-Operating Revenues 63,000 63,000 (2,474,248)(842,363) Change in net position $222,081 $(746,841)(578,726)461,377 NET POSITION - Beginning of Year 8,229,411 7,768,034 NET POSITION - END OF YEAR $7,650,685 $8,229,411 149 VILLAGE OF GLENVIEW DETAILED SCHEDULE OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION - BUDGET AND ACTUAL MUNICIPAL EQUIPMENT REPAIR FUND (MERF) - INTERNAL SERVICE FUND For the Year Ended December 31, 2021 With Comparative Actual Amounts for the Year Ended December 31, 2020 2021 Budgeted Amounts Original Final Actual 2020 Actual OPERATING REVENUES Charges for Services Village $1,313,910 $1,313,910 $1,365,825 $950,259 Library 3,000 3,000 382 824 Other Charges 113,500 113,500 118,178 76,141 Total Operating Revenues 1,430,410 1,430,410 1,484,385 1,027,224 OPERATING EXPENSES Personnel 437,454 437,454 454,910 438,535 Contractual Services 365,355 365,355 319,216 320,876 Commodities 551,625 551,625 481,290 387,434 Other Charges 75,998 75,998 73,115 74,088 Total Operating Expenses 1,430,432 1,430,432 1,328,531 1,220,933 Operating Income (Loss)(22)(22)155,854 (193,709) NON-OPERATING REVENUES Investment Income 50 50 23 185 Total Non-Operating Revenues 50 50 23 185 Change in Net Position $28 $28 155,877 (193,524) NET POSITION - Beginning of Year 420,478 614,002 NET POSITION - END OF YEAR $576,355 $420,478 150 VILLAGE OF GLENVIEW DETAILED SCHEDULE OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION - BUDGET AND ACTUAL INSURANCE AND RISK FUND - INTERNAL SERVICE FUND For the Year Ended December 31, 2021 With Comparative Actual Amounts for the Year Ended December 31, 2020 2021 Budgeted Amounts Original Final Actual 2020 Actual OPERATING REVENUES Charges for Services Employees $779,203 $779,203 $818,116 $779,472 Village 3,896,267 3,896,267 3,888,151 3,854,419 Retirees 1,146,992 1,146,992 1,154,939 1,037,069 Component Unit - Library 551,014 551,014 651,468 472,413 Other 1,636,342 1,636,342 1,636,343 1,450,518 Miscellaneous Insurance Recoveries --1,875 8,000 Other ---668 Other Charges --3,118 - Total Operating Revenues 8,009,818 8,009,818 8,154,010 7,602,559 OPERATING EXPENSES Personnel 610,731 610,731 616,288 546,684 Contractual Services 7,629,263 7,629,263 7,617,632 6,619,588 Total Operating Expenses 8,239,994 8,239,994 8,233,920 7,166,272 Operating Income (Loss)(230,176)(230,176)(79,910)436,287 NON-OPERATING REVENUES Investment Income 43,000 43,000 451,094 1,018,971 Total Non-Operating Revenues 43,000 43,000 451,094 1,018,971 Net Income (Loss) Before Transfers (187,176)(187,176)371,184 1,455,258 TRANSFERS OUT General Fund (250,000)(250,000)(250,000)(250,000) Transfers Out (250,000)(250,000)(250,000)(250,000) Change in Net Position $(437,176)$(437,176)121,184 1,205,258 NET POSITION - Beginning of Year 7,330,300 6,125,042 NET POSITION - END OF YEAR $7,451,484 $7,330,300 151 VILLAGE OF GLENVIEW DETAILED SCHEDULE OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION - BUDGET AND ACTUAL FACILITIES REPAIR AND REPLACEMENT FUND (FRRF) - INTERNAL SERVICE FUND For the Year Ended December 31, 2021 With Comparative Actual Amounts for the Year Ended December 31, 2020 2021 Budgeted Amounts Original Final Actual 2020 Actual OPERATING REVENUES Charges for Services Facilities Charges $1,520,018 $1,520,018 $1,520,018 $1,108,316 Other Charges --1,794 141,252 Total Operating Revenues 1,520,018 1,520,018 1,521,812 1,249,568 OPERATING EXPENSES Personnel 25,642 25,642 19,123 15,823 Contractual Services 2,033,159 2,227,468 1,558,376 261,896 Capital Outlay 25,000 25,000 20,671 - Total Operating Expenses 2,083,801 2,278,110 1,598,170 277,719 Operating Income (Loss)(563,783)(758,092)(76,358)971,849 NON-OPERATING REVENUES Investment Income 18,000 18,000 7,875 40,712 Reassignment of Capital Assets ---(87,155) Total Non-Operating Revenues 18,000 18,000 7,875 (46,443) Net Income (Loss) Before Transfers (545,783)(740,092)(68,483)925,406 TRANSFERS IN Special Tax Allocation Fund 170,000 170,000 -- Transfers In 170,000 170,000 -- Change in Net Position $(375,783)$(570,092)(68,483)925,406 NET POSITION - Beginning of Year 4,189,890 3,264,484 NET POSITION - END OF YEAR $4,121,407 $4,189,890 152 PENSION TRUST AND CUSTODIAL FUND DESCRIPTIONS Pension trust and custodial 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. CUSTODIAL 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. 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, 2021 Police Pension Fund Firefighters' Pension Fund Totals ASSETS Cash and Cash Equivalents $4,510,317 $1,176,532 $5,686,849 Investments U.S. Treasuries 4,716,342 3,948,344 8,664,686 U.S. Agencies 5,411,229 25,494,414 30,905,643 Mutual Funds 66,218,152 72,523,343 138,741,495 Corporate Obligations 20,792,517 6,511,478 27,303,995 Municipal Obligations 566,532 6,570,989 7,137,521 Negotiable Certificates of Deposit -1,053,347 1,053,347 Receivables Accrued Interest 224,297 219,747 444,044 Due from Primary Government 40,031 69,287 109,318 Prepaid Items 8,992 7,417 16,409 Total Assets 102,488,409 117,574,898 220,063,307 LIABILITIES Accrued Expenses 24,974 4,691 29,665 Total Liabilities 24,974 4,691 29,665 NET POSITION Restricted for Pension Benefits $102,463,435 $117,570,207 $220,033,642 153 VILLAGE OF GLENVIEW COMBINING STATEMENT OF CHANGES IN FIDUCIARY NET POSITION PENSION TRUST FUNDS For the Year Ended December 31, 2021 Police Pension Fund Firefighters' Pension Fund Total ADDITIONS Contributions Employer $3,727,911 $5,741,479 $9,469,390 Participant 1,418,992 858,274 2,277,266 Total Contributions 5,146,903 6,599,753 11,746,656 Investment Income Net Appreciation in Fair Value of Investments 5,679,868 7,457,189 13,137,057 Interest Income 4,806,280 5,250,206 10,056,486 Total Investment Income 10,486,148 12,707,395 23,193,543 Less Investment Expense 128,035 208,516 336,551 Net Investment Income 10,358,113 12,498,879 22,856,992 Total Additions 15,505,016 19,098,632 34,603,648 DEDUCTIONS Retirement Pensions 5,827,544 6,559,844 12,387,388 Widow Pensions 134,329 680,233 814,562 Disability Pensions 143,057 620,455 763,512 Children's Pensions 48,270 -48,270 Contribution Refunds 19,067 7,633 26,700 Administration 78,987 85,048 164,035 Total Deductions 6,251,254 7,953,213 14,204,467 Change in Net Position 9,253,762 11,145,419 20,399,181 NET POSITION - Beginning of Year 93,209,673 106,424,788 199,634,461 NET POSITION - END OF YEAR $102,463,435 $117,570,207 $220,033,642 154 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, 2021 With Comparative Actual Amounts for the Year Ended December 31, 2020 2021 Budgeted Amounts Original Final Actual 2020 Actual ADDITIONS Contributions Employer $3,428,510 $3,428,510 $3,727,911 $3,466,223 Participant 841,596 841,596 1,418,992 1,397,725 Total Contributions 4,270,106 4,270,106 5,146,903 4,863,948 Investment Income Net Appreciation in Fair Value of Investments 4,900,000 4,900,000 5,679,868 5,896,917 Interest Income 1,250,000 1,250,000 4,806,280 2,867,679 Total Investment Income 6,150,000 6,150,000 10,486,148 8,764,596 Less Investment Expense 176,785 176,785 128,035 109,391 Net Investment Income 5,973,215 5,973,215 10,358,113 8,655,205 Total Additions 10,243,321 10,243,321 15,505,016 13,519,153 DEDUCTIONS Retirement Pensions 5,254,729 5,254,729 5,827,544 5,249,019 Widow Pensions 161,285 161,285 134,329 150,054 Disability Pensions 193,886 193,886 143,057 139,968 Children's Pensions --48,270 48,270 Contribution Refunds 50,000 50,000 19,067 4,906 Administration --78,987 87,612 Total Deductions 5,659,900 5,659,900 6,251,254 5,679,829 Change in Net Position $4,583,421 $4,583,421 9,253,762 7,839,324 NET POSITION - Beginning of Year 93,209,673 85,370,349 NET POSITION - END OF YEAR $102,463,435 $93,209,673 155 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, 2021 With Comparative Actual Amounts for the Year Ended December 31, 2020 2021 Budgeted Amounts Original Final Actual 2020 Actual ADDITIONS Contributions Employer $5,761,921 $5,761,921 $5,741,479 $5,141,206 Participant 908,262 908,262 858,274 926,080 Total Contributions 6,670,183 6,670,183 6,599,753 6,067,286 Investment Income Net Appreciation in Fair Value of Investments 5,400,000 5,400,000 7,457,189 11,799,462 Interest Income 1,400,000 1,400,000 5,250,206 2,417,461 Total Investment Income 6,800,000 6,800,000 12,707,395 14,216,923 Less Investment Expense 257,122 257,122 208,516 171,809 Net Investment Income 6,542,878 6,542,878 12,498,879 14,045,114 Total Additions 13,213,061 13,213,061 19,098,632 20,112,400 DEDUCTIONS Retirement Pensions 5,909,955 5,909,955 6,559,844 5,787,276 Widow Pensions 654,617 654,617 680,233 654,617 Disability Pensions 436,361 436,361 620,455 536,847 Children's Pensions 68,136 68,136 -11,143 Contribution Refunds 50,000 50,000 7,633 75,659 Administration --85,048 92,726 Total Deductions 7,119,069 7,119,069 7,953,213 7,158,268 Change in Net Position $6,093,992 $6,093,992 11,145,419 12,954,132 NET POSITION - Beginning of Year 106,424,788 93,470,656 NET POSITION - END OF YEAR $117,570,207 $106,424,788 156 VILLAGE OF GLENVIEW COMBINING STATEMENT OF FIDUCIARY NET POSITION CUSTODIAL FUNDS As of December 31, 2021 Special Service Area (SSA) Bond Fund Joint ETSB Fund Total ASSETS Cash and Cash Equivalents $180,893 $1,321,596 $1,502,489 Receivables Taxes 356,378 -356,378 Total Assets 537,271 1,321,596 1,858,867 LIABILITIES Accrued Expenses 373 -373 Due to Primary Government -55 55 Due to Members -1,321,541 1,321,541 Advances from Primary Government 293,369 -293,369 Total Liabilities 293,742 1,321,596 1,615,338 DEFERRED INFLOWS OF RESOURCES Property Taxes Levied for Future Periods 356,378 -356,378 Total Deferred Inflows of Resources 356,378 -356,378 NET POSITION Unrestricted (Deficit)(112,849)-(112,849) TOTAL NET POSITION $(112,849)$-$(112,849) 157 VILLAGE OF GLENVIEW COMBINING STATEMENT OF CHANGES IN FIDUCIARY NET POSITION CUSTODIAL FUNDS For the Year Ended December 31, 2021 Special Service Area (SSA) Bond Fund Joint ETSB Fund Total ADDITIONS Investment Income Interest Income $966 $4,042 $5,008 Total Investment Income 966 4,042 5,008 Property Taxes 356,292 -356,292 911 Surcharge -4,494,113 4,494,113 Total Additions 357,258 4,498,155 4,855,413 DEDUCTIONS Remittance of Principal to Bondholders 165,355 -165,355 Remittance of Interest to Bondholders 63,611 -63,611 Distributions to Primary Government -1,025,507 1,025,507 Distributions to Members -3,472,648 3,472,648 Miscellaneous 110,836 -110,836 Total Deductions 339,802 4,498,155 4,837,957 Change in Net Position 17,456 -17,456 NET POSITION (DEFICIT) - Beginning of Year (130,305)-(130,305) NET POSITION (DEFICIT) - END OF YEAR $(112,849)$-$(112,849) 158 GLENVIEW LIBRARY COMPONENT UNIT The Glenview Library (Library) is a discretely presented component unit of the Village of Glenview. The following fund descriptions provide information on the governmental funds used within the Village's component unit, the Library. The Glenview Library Funds account for the resources necessary to provide the educational, cultural, and recreational activities of the Glenview Public Library. 159 Library General Fund Library Debt Service Nonmajor Library Funds Total Library ASSETS Current Assets Cash and Cash Equivalents 5,113,032$ 588,947$ 711,076$ 6,413,055$ Prepaids 4,496 - - 4,496 Receivables, Net of AllowancesProperty Taxes 8,222,594 1,773,861 - 9,996,455 Total Current Assets 13,340,122 2,362,808 711,076 16,414,006 Noncurrent Assets Capital Assets Not Depreciated - - - - Capital Assets Depreciation (Net)- - - - Net Pension Asset - - - - Total Noncurrent Assets - - - - TOTAL ASSETS 13,340,122 2,362,808 711,076 16,414,006 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, 2021 Combining Balance Sheet VILLAGE OF GLENVIEW COMBINING BALANCE SHEET AND STATEMENT OF NET POSITION GLENVIEW LIBRARY - COMPONENT UNIT 160 Adjustments Total Component Unit - Glenview Library -$ 6,413,055$ - 4,496 - 9,996,455 - 16,414,006 5,426,987 5,426,987 24,079,461 24,079,461 437,472 437,472 29,943,920 29,943,920 29,943,920 46,357,926 627,878 627,878 1,118,198 1,118,198 52,402 52,402 1,798,478 1,798,478 Statement of Net Position 161 Library General Fund Library Debt Service Nonmajor Library Funds Total Library As of December 31, 2021 Combining Balance Sheet VILLAGE OF GLENVIEW COMBINING BALANCE SHEET AND STATEMENT OF NET POSITION GLENVIEW LIBRARY - COMPONENT UNIT LIABILITIES Current Liabilities Accounts Payable 388,142$ -$ 33,760$ 421,902$ Accrued Payroll 90,252 - 90,252 Accrued Expenses 18,900 - 3,761 22,661 Accrued Interest - - - - Current Portion of Bonds Payable - - - - Current Portion of Compensated Absences - - - - Total Current Liabilities 497,294 - 37,521 534,815 Noncurrent Liabilities Bonds Payable - - - - Unamortized Bond Premiums - - - - Total OPEB Liability - - - - Compensated Absences - - - - Total Noncurrent Liabilities - - - - TOTAL LIABILITIES 497,294 - 37,521 534,815 DEFERRED INFLOWS OF RESOURCES Property Taxes Levied for a Future Period 8,165,839 1,758,594 - 9,924,433 Deferred Inflows Related to Pensions - - - - Deferred Inflows Related to OPEB - - - - TOTAL DEFERRED INFLOWS OF RESOURCES 8,165,839 1,758,594 - 9,924,433 FUND BALANCES/NET POSITION Net Investment in Capital Assets - - - - Restricted - 604,214 673,555 1,277,769 Unassigned/Unrestricted 4,676,989 - - 4,676,989 TOTAL FUND BALANCES/NET POSITION 4,676,989 604,214 673,555 5,954,758 TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND FUND BALANCES/NET POSITION 13,340,122$ 2,362,808$ 711,076$ 16,414,006$ 162 Adjustments Total Component Unit - Glenview Library Statement of Net Position -$ 421,902$ - 90,252 - 22,661 42,671 42,671 1,250,950 1,250,950 33,599 33,599 1,327,220 1,862,035 10,667,550 10,667,550 1,541,111 1,541,111 238,930 238,930 134,397 134,397 12,581,988 12,581,988 13,909,208 14,444,023 - 9,924,433 2,477,182 2,477,182 23,467 23,467 2,500,649 12,425,082 16,674,715 16,674,715 437,472 1,715,241 (1,779,646) 2,897,343 15,332,541 21,287,299 31,742,398$ 48,156,404$ 163 Library General Fund Library Debt Service Nonmajor Library Funds Total Library REVENUES Property Taxes 6,322,072$ 1,771,234$ -$ 8,093,306$ Charges for Services 20,221 - - 20,221 Fines and Forfeitures 46,688 - - 46,688 Intergovernmental 1,237,511 - - 1,237,511 Investment Income 4,077 4,435 988 9,500 Other Revenue 39,037 - 58,848 97,885 Total Revenues 7,669,606 1,775,669 59,836 9,505,111 EXPENDITURES Current Culture and Recreation 7,079,843 220 184,254 7,264,317 Debt Service Principal - 1,191,850 - 1,191,850 Interest and Other - 572,645 - 572,645 Capital Outlay 349,538 - - 349,538 Total Expenditures 7,429,381 1,764,715 184,254 9,378,350 Excess (Deficiency) of Revenues over Expenditures 240,225 10,954 (124,418) 126,761 OTHER FINANCING SOURCES (USES)Transfers In 17,300 - 357,224 374,524 Transfers Out (357,224) - (17,300) (374,524) Total Other Financing Sources (Uses)(339,924) - 339,924 - Net Change in Fund Balances/Net Position (99,699) 10,954 215,506 126,761 FUND BALANCES/NET POSITION - Beginning of Year 4,776,688 593,260 458,049 5,827,997 FUND BALANCES/NET POSITION - END OF YEAR 4,676,989$ 604,214$ 673,555$ 5,954,758$ VILLAGE OF GLENVIEW COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES AND GLENVIEW LIBRARY - COMPONENT UNIT For the Year Ended December 31, 2021 STATEMENT OF ACTIVITIES Statement of Revenues, Expenditures, and Changes in Fund Balances 164 Adjustments Total Component Unit - Glenview Library -$ 8,093,306$ - 20,221 - 46,688 - 1,237,511 - 9,500 - 97,885 - 9,505,111 (906,196) 6,358,121 (1,191,850) - (119,120) 453,525 507,806 857,344 (1,709,360) 7,668,990 1,709,360 1,836,121 (374,524) - 374,524 - - - 1,709,360 1,836,121 13,623,181 19,451,178 15,332,541$ 21,287,299$ 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, 2021 With Comparative Actual Amounts for the Year Ended December 31, 2020 2021 Budgeted Amounts Original Final Actual 2020 Actual REVENUES PROPERTY TAXES Current Year $6,442,768 $6,442,768 $6,513,033 $6,460,642 Prior Year (90,000)(90,000)(190,961)(67,309) Total Property Taxes 6,352,768 6,352,768 6,322,072 6,393,333 CHARGES FOR SERVICES Nonresident Fee 4,500 4,500 8,237 7,184 Personal Books 600 600 306 97 Copying Fees 7,500 7,500 8,505 5,993 Circular Collection Fees 300 300 539 349 Video Fees --2 8 Rental Fees 8,500 8,500 2,632 2,461 Total Charges for Services 21,400 21,400 20,221 16,092 FINES AND FORFEITURES Library Fines 24,000 24,000 43,322 30,585 Lost and Paid 4,900 4,900 3,366 2,987 Total Fines and Forfeitures 28,900 28,900 46,688 33,572 INTERGOVERNMENTAL Property Replacement Tax 53,508 53,508 91,174 53,946 Make-Whole Payment 1,083,826 1,083,826 1,079,916 1,070,972 Grant Revenue 56,000 56,000 66,421 66,838 Total Intergovernmental 1,193,334 1,193,334 1,237,511 1,191,756 INVESTMENT INCOME Interest 51,500 51,500 4,077 36,408 OTHER REVENUE Miscellaneous 22,000 22,000 39,037 27,277 Total Other Revenue 22,000 22,000 39,037 27,277 Total Revenues 7,669,902 7,669,902 7,669,606 7,698,438 EXPENDITURES CULTURE AND RECREATION Library Administration Personnel 1,447,568 1,447,568 1,417,471 1,360,805 Contractual Services 399,200 399,200 336,133 328,611 Commodities 21,425 21,425 10,055 9,523 Other Charges 48,500 48,500 27,015 58,593 Total Library Administration 1,916,693 1,916,693 1,790,674 1,757,532 165 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, 2021 With Comparative Actual Amounts for the Year Ended December 31, 2020 2021 Budgeted Amounts Original Final Actual 2020 Actual Expenditures (cont.) Reader Services Personnel $901,689 $901,689 $911,819 $898,399 Contractual Services 162,150 162,150 186,746 101,973 Commodities 178,700 178,700 171,358 208,486 Other Charges 10,900 10,900 259 4,030 Total Reader Services 1,253,439 1,253,439 1,270,182 1,212,888 Buildings and Grounds Maintenance Personnel 260,104 260,104 263,344 269,068 Contractual Services 171,603 171,603 182,291 183,680 Commodities 72,375 72,375 76,220 55,692 Other Charges 150 150 81 559 Total Buildings and Grounds Maintenance 504,232 504,232 521,936 508,999 Material Services Personnel 930,546 930,546 884,533 821,664 Contractual Services 20,590 20,590 1,496 12,066 Commodities 18,000 18,000 8,264 16,000 Other Charges 3,250 3,250 4,371 2,145 Total Material Services 972,386 972,386 898,664 851,875 Public Information Personnel 203,300 203,300 212,627 203,834 Contractual Services 96,600 96,600 71,131 61,830 Commodities 4,900 4,900 1,267 2,148 Other Charges 600 600 243 - Total Public Information 305,400 305,400 285,268 267,812 Technical Services Personnel 383,397 383,397 304,460 384,026 Contractual Services 11,400 11,400 4,422 4,013 Commodities 16,900 16,900 9,484 10,283 Other Charges 800 800 510 247 Total Technical Services 412,497 412,497 318,876 398,569 Youth Services Personnel 690,297 690,297 607,637 663,547 Contractual Services 61,800 61,800 50,382 40,421 Commodities 136,150 136,150 132,074 134,789 Other Charges 16,000 16,000 1,673 1,413 Total Youth Services 904,247 904,247 791,766 840,170 166 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, 2021 With Comparative Actual Amounts for the Year Ended December 31, 2020 2021 Budgeted Amounts Original Final Actual 2020 Actual Expenditures (cont.) Reference Personnel $600,244 $600,244 $581,148 $594,800 Contractual Services 180,500 180,500 193,895 156,589 Commodities 138,015 138,015 106,805 53,857 Other Charges 5,420 5,420 986 3,910 Total Reference 924,179 924,179 882,834 809,156 Information Technology Personnel 407,966 407,966 271,977 275,828 Contractual Services 124,500 124,500 24,594 107,875 Commodities 4,650 4,650 5,123 1,465 Other Charges 2,450 2,450 3,021 74 Total Information Technology 539,566 539,566 304,715 385,242 Adult Services Personnel --14,928 - Total Adult Services --14,928 - Total Culture and Recreation 7,732,639 7,732,639 7,079,843 7,032,243 CAPITAL OUTLAY Furniture and Fixtures 13,500 13,500 7,922 10,147 Machinery and Equipment 24,900 24,900 40,352 36,751 Information System 234,977 234,977 264,305 230,794 Building Improvements 40,000 40,000 36,959 550,607 Total Capital Outlay 313,377 313,377 349,538 828,299 Total Expenditures 8,046,016 8,046,016 7,429,381 7,860,542 Excess (Deficiency) of Revenues over Expenditures (376,114)(376,114)240,225 (162,104) 167 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, 2021 With Comparative Actual Amounts for the Year Ended December 31, 2020 2021 Budgeted Amounts Original Final Actual 2020 Actual OTHER FINANCING SOURCES (USES) Transfer (Out) Library Capital Contribution Fund $-$-$17,300 $- Friends of Library ---50,000 Library Special Reserve Fund (357,224)(357,224)(357,224)(538,824) Total Other Financing Sources (Uses)(357,224)(357,224)(339,924)(488,824) Net Change in Fund Balance $(733,338)$(733,338)(99,699)(650,928) FUND BALANCE - Beginning of Year 4,776,688 5,427,616 FUND BALANCE - END OF YEAR $4,676,989 $4,776,688 168 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, 2021 With Comparative Actual Amounts for the Year Ended December 31, 2020 2021 Budgeted Amounts Original Final Actual 2020 Actual REVENUES Property $1,781,129 $1,781,129 $1,771,234 $1,806,841 Investment Income 10,500 10,500 4,435 10,173 Total Revenues 1,791,629 1,791,629 1,775,669 1,817,014 EXPENDITURES Culture and Recreation Contractual services 220 220 220 220 Total Culture and Recreation 220 220 220 220 Debt Service Principal 1,191,850 1,191,850 1,191,850 1,132,750 Interest Expense 572,644 572,644 572,645 629,282 Total Debt Service 1,764,494 1,764,494 1,764,495 1,762,032 Total Expenditures 1,764,714 1,764,714 1,764,715 1,762,252 Net Change in Fund Balance $26,915 $26,915 10,954 54,762 FUND BALANCE - Beginning of Year 593,260 538,498 FUND BALANCE - END OF YEAR $604,214 $593,260 169 170 Friends of the Library Gift Total Special Revenue ASSETS Cash and Cash Equivalents 78,919$ 111,526$ 190,445$ Total Assets 78,919$ 111,526$ 190,445$ LIABILITIES AND FUND BALANCES Liabilities Accounts Payable -$ -$ -$ Accrued Expenses - - - Total Liabilities - - - Fund Balance Restricted 78,919 111,526 190,445 Total Fund Balances 78,919 111,526 190,445 TOTAL LIABILITIES AND FUND BALANCES 78,919$ 111,526$ 190,445$ As of December 31, 2021 Special Revenue Funds VILLAGE OF GLENVIEW COMBINING BALANCE SHEET GLENVIEW LIBRARY - COMPONENT UNIT - LIBRARY NONMAJOR FUNDS 171 Library Capital Contribution Library Special Reserve Total Capital Project Total Nonmajor Library 44,860$ 475,771$ 520,631$ 711,076$ 44,860$ 475,771$ 520,631$ 711,076$ -$ 33,760$ 33,760$ 33,760$ - 3,761 3,761 3,761 - 37,521 37,521 37,521 44,860 438,250 483,110 673,555 44,860 438,250 483,110 673,555 44,860$ 475,771$ 520,631$ 711,076$ Capital Projects Funds 172 Friends of the Library Gift Total Special Revenue REVENUESOther Revenue Donations 40,000$ 3,748$ 43,748$ Miscellaneous - - - Investment Income 126 389 515 Total Revenues 40,126 4,137 44,263 EXPENDITURES Culture and Recreation Contractual Services - - - Miscellaneous 1,964 460 2,424 Capital Outlay - - - Total Expenditures 1,964 460 2,424 Excess (Deficiency) of Revenues over (under) Expenditures 38,162 3,677 41,839 OTHER FINANCING SOURCES (USES) Transfers In - - - Transfers Out - - - Total Other Financing Sources (Uses)- - - Net Change in Fund Balances 38,162 3,677 41,839 FUND BALANCE - Beginning of Year 40,757 107,849 148,606 FUND BALANCE - END OF YEAR 78,919$ 111,526$ 190,445$ 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, 2021 173 Library Capital Contribution Library Special Reserve Total Capital Project Total Nonmajor Library 14,761$ -$ 14,761$ 58,509$ - 339 339 339 139 334 473 988 14,900 673 15,573 59,836 - 180,756 180,756 180,756 1,074 - 1,074 3,498 - - - - 1,074 180,756 181,830 184,254 13,826 (180,083) (166,257) (124,418) - 357,224 357,224 357,224 (17,300) - (17,300) (17,300) (17,300) 357,224 339,924 339,924 (3,474) 177,141 173,667 215,506 48,334 261,109 309,443 458,049 44,860$ 438,250$ 483,110$ 673,555$ 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, 2021 With Comparative Actual Amounts for the Year Ended December 31, 2020 2021 Budgeted Amounts Original Final Actual 2020 Actual REVENUES Investment Income $4,000 $4,000 $334 $4,098 Miscellaneous --339 - Total Revenues 4,000 4,000 673 4,098 EXPENDITURES Culture and Recreation Contractual Services 10,500 22,173 180,756 149,186 Total Culture and Recreation 10,500 22,173 180,756 149,186 Capital Outlay Capital Outlay 149,964 149,964 -927,669 Total Expenditures 160,464 172,137 180,756 1,076,855 Deficiency of Revenues under Expenditures (156,464)(168,137)(180,083)(1,072,757) OTHER FINANCING SOURCES Transfers In Library General Fund 357,224 357,224 357,224 538,824 Total Other Financing Sources 357,224 357,224 357,224 538,824 Net Change in Fund Balance $200,760 $189,087 177,141 (533,933) FUND BALANCE - Beginning of Year 261,109 795,042 FUND BALANCE - END OF YEAR $438,250 $261,109 174 175 VILLAGE OF GLENVIEW LONG-TERM DEBT REQUIREMENTSILLINOIS ENVIRONMENT PROTECTION AGENCY LOAN December 31, 2021 Date of Issue October 1, 2010 Date of Maturity April 14, 2031 Amount of Issue 633,827$ Interest Rates 0.00% Principal Maturity Date April 14 and October 14 Paying Agent Illinois Environmental Protection Agency Loan Number: L17-4483 Future Principal and Interest Requirements Fiscal Year Ending December 31,April 14 October 14 Total 2022 12,185$ 12,186$ 24,371$ 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 12,187 - 12,187 Total 121,852$ 109,666$ 231,518$ Note: Principal will be paid by the Capital Projects Fund. Requirements 176 VILLAGE OF GLENVIEW LONG-TERM DEBT REQUIREMENTS GENERAL OBLIGATION REFUNDING BOND SERIES 2012B December 31, 2021 Date of Issue December 18, 2012 Date of Maturity December 1, 2024Amount of Issue 14,575,000$ Denomination of Bonds 5,000$ Interest Rates 3.00% to 4.00%Interest Dates June 1 and December 1 Principal Maturity Date December 1Paying Agent Wells Fargo Bank, N.A., Chicago, IL Future Principal and Interest Requirements Fiscal Year EndingDecember 31,Principal Interest Total June 1 Amount December 1 Amount 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 5,045,000$ 356,900$ 5,401,900$ 178,450$ 178,450$ Note: Principal and interest is payable from a property tax levy. Requirements Interest Due on 177 VILLAGE OF GLENVIEW LONG-TERM DEBT REQUIREMENTS GENERAL OBLIGATION BOND SERIES 2013A December 31, 2021 Date of Issue December 19, 2013 Date of Maturity December 1, 2033Amount of Issue 6,065,000$ Denomination of Bonds 5,000$ Interest Rates 2.00% to 4.00%Interest Dates June 1 and December 1 Principal Maturity Date December 1Paying Agent Wells Fargo Bank, N.A., Chicago, IL Future Principal and Interest Requirements Fiscal Year EndingDecember 31,Principal Interest Total June 1 Amount December 1 Amount 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 4,045,000$ 1,084,804$ 5,129,804$ 542,402$ 542,402$ Note: Principal and interest will be paid by the Debt Service Fund via a transfer from the Corporate Fund. Requirements Interest Due on 178 VILLAGE OF GLENVIEW LONG-TERM DEBT REQUIREMENTS GENERAL OBLIGATION BOND SERIES 2013B December 31, 2021 Date of Issue December 19, 2013 Date of Maturity December 1, 2023Amount of Issue 4,385,000$ Denomination of Bonds 5,000$ Interest Rates 1.50% to 3.50% Interest Dates June 1 and December 1Principal 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 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 1,340,000$ 69,050$ 1,409,050$ 34,525$ 34,525$ Note: Principal and interest will be paid by the Waukegan/Golf TIF Fund. Requirements Interest Due on 179 VILLAGE OF GLENVIEW LONG-TERM DEBT REQUIREMENTS GENERAL OBLIGATION REFUNDING BOND SERIES 2016A December 31, 2021 Date of Issue October 27, 2016 Date of Maturity December 1, 2029Amount of Issue 15,326,600$ Denomination of Bonds 5,000$ Interest Rates 4.45% to 5.91%Interest Dates June 1 and December 1 Principal Maturity Date December 1Paying Agent Wells Fargo Bank, N.A., Chicago, IL Future Principal and Interest Requirements Fiscal Year EndingDecember 31,Principal Interest Total June 1 Amount December 1 Amount 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 11,918,500$ 2,221,124$ 14,139,624$ 1,110,562$ 1,110,562$ Note: Principal and interest is payable from proceeds of the library property tax levy. Requirements Interest Due on 180 VILLAGE OF GLENVIEW LONG-TERM DEBT REQUIREMENTS ADVANCE METERING INFRASTRUCTURE LOAN December 31, 2021 Date of Issue May 1, 2015 Date of Maturity December 1, 2025Amount of Issue 6,876,024$ Interest Rates 2.00%Interest Dates June 1 and December 1 Principal Maturity Date December 1Paying Agent Glenview Bank Future Principal and Interest Requirements Fiscal Year EndingDecember 31,Principal Interest Total June 1 Amount December 1 Amount 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 3,547,441$ 160,402$ 3,707,843$ 79,981$ 80,421$ Note: Principal and interest will be paid by the Water Fund and Sewer Fund. Requirements Interest Due on 181 Special Revenue Fund Capital Projects Fund Special Tax Allocation Fund Glen Capital Projects Fund Total GNAS Redevelopment Area ASSETSCash and Cash Equivalents 23,599,034$ -$ 23,599,034$ Investments 10,802,331 - 10,802,331 Receivables, Net of Allowances Accounts 51,166 - 51,166 Accrued Interest 84,113 - 84,113 Lease Receivable 30,450 - 30,450 TOTAL ASSETS 34,567,094$ -$ 34,567,094$ LIABILITIES AND FUND BALANCES Liabilities Accounts Payable 15,429,675$ -$ 15,429,675$ Accrued Payroll 12,373 - 12,373 Accrued Expenses 1,159 - 1,159 Total Liabilities 15,443,207 - 15,443,207 Fund Balance Restricted for Economic Development 19,123,887 - 19,123,887 TOTAL LIABILITIES AND FUND BALANCES 34,567,094$ -$ 34,567,094$ VILLAGE OF GLENVIEW COMBINING BALANCE SHEET GLENVIEW NAVAL AIR STATION (GNAS) REDEVELOPMENT AREA FUNDS As of December 31, 2021 182 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, 2021 Special Revenue Fund Capital Projects Fund Special Tax Allocation Fund Glen Capital Projects Fund Total GNAS Redevelopment Area REVENUES Property Taxes 38,202,492$ -$ 38,202,492$ Charges for Services 204,360 - 204,360 Intergovernmental 310,842 - 310,842 Investment Income 72,829 257 73,086 Miscellaneous 14,989 - 14,989 Total Revenues 38,805,512 257 38,805,769 EXPENDITURES Current General Government 24,065,520 - 24,065,520 Development 2,501,973 - 2,501,973 Principal 6,210,000 - 6,210,000 Interest and Fiscal Charges 254,855 - 254,855 Total Expenditures 33,032,348 - 33,032,348 Excess of Revenues over Expenditures 5,773,164 257 5,773,421 OTHER FINANCING SOURCES (USES) Transfers In 104,290 - 104,290 Transfers Out - (104,290) (104,290) Total Other Financing Sources (Uses)104,290 (104,290) - Net Change in Fund Balances 5,877,454 (104,033) 5,773,421 FUND BALANCES - Beginning of Year 13,246,433 104,033 13,350,466 FUND BALANCES - END OF YEAR 19,123,887$ -$ 19,123,887$ Statistical Section Contents Page Financial Trends 183 - 192 Revenue Capacity 193 - 200 Debt Capacity 201 - 204 Demographic and Economic Information 205 - 208 Operating Information 209 - 212 Sources: Unless otherwise noted, the information in these schedules is derived from the annual comprehensive financial reports for the relevant year. This part of the Village of Glenview, Illinois' annual comprehensive 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. 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. 183 2012 2013 2014 2015 GOVERNMENTAL ACTIVITIES Net investment in capital assets 109,488,722$ 139,233,309$ 149,950,065$ 190,234,952$ Restricted 45,978,154 11,484,242 2,407,413 2,194,487 Unrestricted 42,720,345 50,861,602 (11,873,206) (11,596,195) TOTAL GOVERNMENTAL ACTIVITIES 198,187,221$ 201,579,153$ 140,484,272$ 180,833,244$ BUSINESS-TYPE ACTIVITIES Net investment in capital assets 56,331,598$ 58,075,392$ 60,891,686$ 55,002,443$ Restricted - - - - Unrestricted 7,475,383 10,891,341 8,714,501 6,214,430 TOTAL BUSINESS-TYPE ACTIVITIES 63,806,981$ 68,966,733$ 69,606,187$ 61,216,873$ PRIMARY GOVERNMENT Net investment in capital assets 165,820,320$ 197,308,701$ 210,841,751$ 245,237,395$ Restricted 45,978,154 11,484,242 2,407,413 2,194,487 Unrestricted 50,195,728 61,752,943 (3,158,705) (5,381,765) TOTAL PRIMARY GOVERNMENT 261,994,202$ 270,545,886$ 210,090,459$ 242,050,117$ Data Source The Village of Glenview's Annual Comprehensive Financial Report. Fiscal Year Last Ten Fiscal Years VILLAGE OF GLENVIEW NET POSITION 184 2016 2017 2018 2019 2020 2021 190,133,236$ 200,207,529$ 202,699,589$ 211,320,561$ 225,337,565$ 233,887,283$ 2,906,999 3,657,835 4,413,818 8,162,705 18,545,802 28,872,630 (10,645,007) (10,627,289) (9,283,111) (5,872,546) (2,076,177) 8,349,265 182,395,228$ 193,238,075$ 197,830,296$ 213,610,720$ 241,807,190$ 271,109,178$ 53,413,336$ 53,974,120$ 55,163,508$ 57,542,738$ 58,722,317$ 60,326,001$ - - - - - 260,316 5,983,945 7,728,756 8,220,729 9,753,985 12,686,514 16,336,861 59,397,281$ 61,702,876$ 63,384,237$ 67,296,723$ 71,408,831$ 76,923,178$ 243,546,572$ 254,181,649$ 257,863,097$ 268,863,299$ 284,059,882$ 294,213,284$ 2,906,999 3,657,835 4,413,818 8,162,705 18,545,802 29,132,946 (4,661,062) (2,898,533) (1,062,382) 3,881,439 10,610,337 24,686,126 241,792,509$ 254,940,951$ 261,214,533$ 280,907,443$ 313,216,021$ 348,032,356$ 185 2012 2013 2014 2015 EXPENSES Governmental Activities General government 40,172,192$ 38,505,592$ 36,586,774$ 34,403,572$ Public safety 27,145,548 27,152,669 23,105,414 20,638,161 Public works 6,670,428 7,743,333 22,535,067 26,550,936 Development 6,421,304 14,486,953 11,829,052 5,107,156 Interest on long-term debt 2,984,565 2,547,042 2,231,704 2,087,567 Total Governmental Activities Expenses 83,394,037 90,435,589 96,288,011 88,787,392 Business-type Activities Water services 10,339,739 9,880,585 10,634,065 15,164,208 North Maine water and sewer services 7,399,749 7,399,181 7,547,458 14,915,126 Sanitary sewer services 1,729,509 1,789,883 2,051,642 2,034,331 Wholesale water 1,157,835 1,129,077 1,064,737 1,172,689 Commuter parking 449,674 364,679 409,584 487,345 Total Business-type Activities Expenses 21,076,506 20,563,405 21,707,486 33,773,699 TOTAL PRIMARY GOVERNMENT EXPENSES 104,470,543$ 110,998,994$ 117,995,497$ 122,561,091$ PROGRAM REVENUES Governmental ActivitiesCharges for Services General government 3,564,720$ 7,242,189$ 7,090,956$ 6,776,652$ Public safety 4,967,056 5,339,032 7,789,777 8,017,412 Public works 945,812 945,521 945,106 1,011,433 Development 850,749 469,771 817,593 137,783 Operating grants and contributions 1,960,093 1,875,489 2,079,987 1,740,265 Capital grants and contributions 746,987 203,909 5,162,690 18,639,549 Total Governmental Activities Program Revenues 13,035,417 16,075,911 23,886,109 36,323,094 Business-type Activities Charges for Services Water services 11,351,729 11,213,172 11,431,761 12,738,153 North Maine water and sewer services 8,229,828 8,611,294 8,068,712 2,549,981 Sanitary sewer services 2,523,022 2,355,451 2,263,025 2,523,041 Wholesale water 2,063,759 2,190,544 1,891,731 1,996,831 Commuter parking 526,212 570,670 615,754 619,764 Operating grants and contributions - - - - Capital grants and contributions - - - - Total Business-type Activities Program Revenues 24,694,550 24,941,131 24,270,983 20,427,770 37,729,967$ 41,017,042$ 48,157,092$ 56,750,864$ NET REVENUE (EXPENSE) Governmental Activities (70,358,620)$ (74,359,678)$ (72,401,902)$ (52,464,298)$ Business-type Activities 3,618,044 4,377,726 2,563,497 (13,345,929) TOTAL PRIMARY GOVERNMENT NET REVENUE (EXPENSE)(66,740,576)$ (69,981,952)$ (69,838,405)$ (65,810,227)$ CHANGES IN NET POSITION VILLAGE OF GLENVIEW Fiscal Year TOTAL PRIMARY GOVERNMENT PROGRAM REVENUES Last Ten Fiscal Years 186 2016 2017 2018 2019 2020 2021 44,385,296$ 42,184,653$ 42,033,645$ 43,756,473$ 43,729,644$ 48,523,232$ 34,694,711 34,322,701 36,999,265 38,694,451 33,759,829 30,821,939 12,872,643 18,850,845 15,879,425 14,931,138 14,027,726 12,499,598 8,956,426 4,654,804 6,801,693 3,982,894 3,945,053 6,711,253 1,853,307 2,027,661 1,581,379 1,361,391 974,733 608,592 102,762,383 102,040,664 103,295,407 102,726,437 96,436,985 99,164,614 16,376,087 13,118,448 12,902,647 12,015,899 13,032,322 14,002,267 19,318 - - - - - 2,326,072 2,292,993 2,152,793 2,179,278 2,006,711 2,272,423 1,276,248 1,393,330 1,404,958 1,428,116 2,336,738 2,983,885 428,679 489,432 678,344 649,452 686,458 637,387 20,426,404 17,294,203 17,138,742 16,272,835 18,062,229 19,895,962 123,188,787$ 119,334,867$ 120,434,149$ 118,999,272$ 114,499,214$ 119,060,576$ 4,015,275$ 4,610,434$ 4,838,551$ 3,851,196$ 3,951,113$ 4,798,421$ 8,036,363 11,164,334 10,013,251 10,284,058 10,563,869 11,239,266 962,941 1,018,286 1,012,457 1,088,877 1,006,921 1,009,747 261,785 459,205 883,365 208,068 366,412 219,397 1,857,331 2,428,438 2,412,378 2,331,999 3,806,521 3,232,713 299,776 472,494 319,461 2,130,850 5,643,948 2,931,912 15,433,471 20,153,191 19,479,463 19,815,048 25,338,784 23,431,456 14,276,095 14,624,348 14,834,822 14,746,014 15,875,036 17,258,433 - - - - - - 2,569,752 2,496,477 2,438,304 2,398,120 2,550,313 2,701,486 2,075,114 2,361,124 2,087,966 2,286,564 4,408,385 5,997,125 640,382 655,069 696,594 688,811 153,287 140,705 - - - - - - - - - 749,463 - - 19,561,343 20,137,018 20,057,686 20,868,972 22,987,021 26,097,749 34,994,814$ 40,290,209$ 39,537,149$ 40,684,020$ 48,325,805$ 49,529,205$ (87,328,912)$ (81,887,473)$ (83,815,944)$ (82,911,389)$ (71,098,201)$ (75,733,158)$ (865,061) 2,842,815 2,918,944 (4,596,137) 4,924,792 6,201,787 (88,193,973)$ (79,044,658)$ (80,897,000)$ (78,315,252)$ (66,173,409)$ (69,531,371)$ 187 2012 2013 2014 2015 GENERAL REVENUES AND OTHER CHANGES IN NET POSITION Governmental ActivitiesTaxes Property taxes 37,275,705$ 37,383,036$ 40,785,102$ 41,564,097$ Other taxes 13,495,498 13,944,053 14,406,764 14,460,977 Sales taxes 13,091,218 13,833,697 14,972,367 15,635,705 Income taxes 3,962,313 4,309,714 4,232,425 4,832,506 Intergovernmental 2,614,374 2,739,777 2,839,239 2,950,181 Investment income 860,108 785,925 1,407,626 667,765 Miscellaneous 1,562,876 4,104,857 1,703,769 1,701,143 Gain on sale of capital assets - - - - Transfers 827,016 822,322 1,313,328 11,000,896 Total Governmental Activities 73,689,108 77,923,381 81,660,620 92,813,270 Business-type Activities Investment income 33,790 27,046 (153,614) 15,093 Miscellaneous 41,947 6,290 21,553 15,942,418 Gain on sale of capital assets - - - - Gain on legal settlement - 1,571,012 - - Transfers (827,016) (822,322) (1,313,328) (11,000,896) Total Business-type Activities (751,279) 782,026 (1,445,389) 4,956,615 TOTAL PRIMARY GOVERNMENT 72,937,829$ 78,705,407$ 80,215,231$ 97,769,885$ CHANGE IN NET POSITION Governmental Activities 3,330,488$ 3,563,703$ 9,258,718$ 40,348,972$ Business-type Activities 2,866,765 5,159,752 1,118,108 (8,389,314) TOTAL PRIMARY GOVERNMENT CHANGE IN NET POSITION 6,197,253$ 8,723,455$ 10,376,826$ 31,959,658$ Data SourceThe Village of Glenview's Annual Comprehensive Financial Report. VILLAGE OF GLENVIEW CHANGE IN NET POSITION (cont.) Fiscal Year Last Ten Fiscal Years 188 2016 2017 2018 2019 2020 2021 44,672,858$ 46,558,256$ 48,082,053$ 48,961,852$ 52,844,232$ 53,126,350$ 14,367,678 14,885,856 15,699,176 15,342,199 13,855,521 16,127,461 16,189,240 17,223,884 18,072,001 18,631,360 18,206,509 21,727,766 4,293,596 4,075,812 4,508,718 5,014,901 5,147,028 6,356,983 3,174,289 3,380,756 3,531,640 3,938,961 4,334,825 4,363,698 1,145,352 1,291,016 2,106,936 3,149,929 2,189,159 571,805 4,075,921 1,953,561 1,737,297 2,676,583 1,727,659 1,813,569 - 2,558,900 52,458 49,490 91,714 32,299 971,962 802,279 1,082,804 881,334 898,024 915,215 88,890,896 92,730,320 94,873,083 98,646,609 99,294,671 105,035,146 9,637 - - - - - 7,794 18,249 101,483 191,730 84,051 (1,403) - 246,810 2,523 5,953 1,289 229,178 - - - - - - (971,962) (802,279) (1,082,804) (881,334) (898,024) (915,215) (954,531) (537,220) (978,798) (683,651) (812,684) (687,440) 87,936,365$ 92,193,100$ 93,894,285$ 97,962,958$ 98,481,987$ 104,347,706$ 1,561,984$ 10,842,847$ 11,057,139$ 15,735,220$ 28,196,470$ 29,301,988$ (1,819,592) 2,305,595 1,940,146 3,912,486 4,112,108 5,514,347 (257,608)$ 13,148,442$ 12,997,285$ 19,647,706$ 32,308,578$ 34,816,335$ 189 Fiscal Year 2012 2013 2014 2015 GENERAL FUND Nonspendable 195,280$ 87,738$ 176,110$ 499,800$ Committed - 1,700,000 850,000 - Assigned - 3,208,020 5,364,276 - Unassigned 25,564,806 26,823,063 24,306,476 25,739,072 TOTAL GENERAL FUND 25,760,086$ 31,818,821$ 30,696,862$ 26,238,872$ ALL OTHER GOVERNMENTAL FUNDS Nonspendable 64,508$ 53,289$ 42,070$ 30,851$ Restricted 45,978,154 11,484,242 2,407,413 2,194,487 Assigned - 42,275,455 31,933,727 34,155,883 Unassigned - - (13,171,320) (11,572,271) TOTAL ALL OTHER GOVERNMENTAL FUNDS 46,042,662$ 53,812,986$ 21,211,890$ 24,808,950$ TOTAL GOVERNMENTAL FUNDS 71,802,748$ 85,631,807$ 51,908,752$ 51,047,822$ Data Source The Village of Glenview's Annual Comprehensive Financial Report. VILLAGE OF GLENVIEW FUND BALANCES OF GOVERNMENTAL FUNDS Last Ten Fiscal Years 190 2016 2017 2018 2019 2020 2021 155,205$ 128,795$ 123,985$ 153,608$ 165,910$ 146,949$ - - - - -- - 3,100,000 9,100,000 - 1,000,000 1,680,000 25,335,141 26,530,097 26,626,131 36,319,710 32,445,006 36,862,718 25,490,346$ 29,758,892$ 35,850,116$ 36,473,318$ 33,610,916$ 38,689,667$ 19,633$ 8,414$ -$ -$ -$ -$ 2,906,999 3,657,835 4,413,818 8,162,705 18,545,802 27,648,048 31,341,543 30,339,651 30,511,221 32,391,463 35,310,055 35,134,334 (8,935,926) (6,619,132) (2,770,450) - - - 25,332,249$ 27,386,768$ 32,154,589$ 40,554,168$ 53,855,857$ 62,782,382$ 50,822,595$ 57,145,660$ 68,004,705$ 77,027,486$ 87,466,773$ 101,472,049$ 191 VILLAGE OF GLENVIEW CHANGE IN FUND BALANCES OF GOVERNMENTAL FUND Last Ten Fiscal Years 2012 2013 2014 2015 REVENUES Taxes 50,771,203$ 51,327,089$ 55,191,866$ 56,025,074$ Intergovernmental 24,796,132 25,747,882 28,843,610 47,874,058 Charges for services 6,519,625 8,082,885 9,789,188 11,784,003 Licenses and permits 1,923,238 4,461,768 5,103,571 3,208,298 Fines and forfeitures 224,198 228,419 255,899 164,673 Investment income 422,751 341,472 399,971 306,361 Miscellaneous Other 709,998 486,493 796,354 120,603 Total revenues 85,367,145 90,676,008 100,380,459 119,483,070 EXPENDITURES General government 38,411,652 35,582,816 36,391,244 38,168,909 Public safety 26,369,673 26,687,294 27,212,096 28,421,350 Public works 7,036,995 7,489,675 9,523,902 9,260,772 Development 1,261,328 1,016,437 4,078,982 3,947,132 Debt service Principal 8,208,235 30,983,776 32,364,371 17,975,309 Interest and fiscal charges 3,279,464 2,761,174 2,388,883 2,263,186 Bond issuance costs 139,044 61,176 - 20,250 Capital outlay 6,060,977 8,253,623 34,631,202 43,130,127 Total expenditures 90,767,368 112,835,971 146,590,680 143,187,035 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES (5,400,223) (22,159,963) (46,210,221) (23,703,965) OTHER FINANCING SOURCES (USES) Transfers in 6,281,471 13,052,864 16,557,993 33,455,261 Transfers out (5,702,833) (11,837,724) (12,684,506) (21,593,677) Bonds Issued 40,395,000 38,575,000 6,529,688 10,000,000 Premium on bonds issued - (11,539) - - Discount on bonds issued 4,432,391 69,535 - - Payment to escrow agent (44,678,884) - - - Proceeds from capital lease - - - 981,451 Sale of capital assets - (3,859,114) 2,083,991 - Total Other Financing Sources (Uses)727,145 35,989,022 12,487,166 22,843,035 NET CHANGE IN FUND BALANCES (4,673,078)$ 13,829,059$ (33,723,055)$ (860,930)$ DEBT SERVICE AS A PERCENTAGE OF NONCAPITAL EXPENDITURES 13.28%31.21%28.34%18.65% Data Source The Village of Glenview's Annual Comprehensive Financial Report. Fiscal Year 192 2016 2017 2018 2019 2020 2021 59,040,536$ 61,444,112$ 63,781,229$ 64,304,051$ $66,709,887 69,253,811$ 29,203,967 31,357,689 31,224,129 33,688,404 34,709,699 41,440,940 10,235,729 12,664,145 12,746,771 13,043,204 12,710,012 13,305,212 2,088,538 2,451,693 2,810,054 1,871,593 2,114,688 2,754,448 209,062 211,592 130,281 121,707 93,008 129,330 544,236 996,459 1,870,798 2,487,062 1,040,300 99,121 2,503,274 261,396 434,154 279,865 162,298 63,542 103,825,342 109,387,086 112,997,416 115,775,886 117,539,892 127,046,404 39,187,095 40,680,381 41,209,378 41,269,969 40,054,442 45,336,778 29,601,085 29,578,436 29,857,646 31,320,192 34,502,047 36,183,524 10,229,806 8,755,999 8,233,133 7,772,011 7,552,623 6,976,017 3,992,133 3,704,509 4,012,804 3,505,451 3,483,380 6,656,239 8,230,309 9,000,309 9,200,309 9,455,309 8,414,371 8,684,371 1,923,782 1,827,110 1,772,060 1,608,865 1,085,110 725,028 - - - - - - 12,108,321 13,184,473 9,026,237 13,046,601 13,156,656 9,644,386 105,272,531 106,731,217 103,311,567 107,978,398 108,248,629 114,206,343 (1,447,189) 2,655,869 9,685,849 7,797,488 9,291,263 12,840,061 9,514,205 11,740,499 10,707,249 14,214,015 14,855,556 9,999,352 (8,292,243) (10,534,303) (9,534,053) (13,082,681) (13,707,532) (8,834,137) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 2,461,000 - 48,755 - - 1,221,962 3,667,196 1,173,196 1,180,089 1,148,024 1,165,215 (225,227)$ 6,323,065$ 10,859,045$ 8,977,577$ 10,439,287$ 14,005,276$ 10.31%11.16%10.93%10.86%9.98%8.81% 193 Levy Residential Commercial Industrial Year Property Property Property Railroad Farm 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 - 2018 1,874,142,503 470,822,908 110,155,470 691,897 - 2019 2,072,476,033 605,987,591 133,052,968 755,416 91,111 2020 2,068,050,554 561,869,585 139,682,681 787,598 969 Data Source Office of the County Clerk Note : Property in the Village is reassessed each year. Property is assessed at 33% of actual value. VILLAGE OF GLENVIEW ASSESSED VALUE AND ACTUAL VALUE OF TAXABLE PROPERTY Last Ten Levy Years 194 Total Estimated Estimated Total Taxable Direct Actual Actual Assessed Tax Taxable Taxable Value Rate Value Value 2,448,167,001$ 0.456$ 7,344,501,003$ 33.333% 2,291,707,201 0.482 6,875,121,603 33.333% 2,025,735,097 0.553 6,077,205,291 33.333% 2,048,469,543 0.554 6,145,408,629 33.333% 2,012,901,053 0.585 6,038,703,159 33.333% 2,461,599,597 0.493 7,384,798,791 33.333% 2,519,134,378 0.495 7,557,403,134 33.333% 2,455,812,778 0.512 7,367,438,334 33.333% 2,812,363,119 0.450 8,437,089,357 33.333% 2,770,391,387 0.461 8,311,174,161 33.333% 195 2011 2012 2013 2014 2015 Village of Glenview Corporate 0.177$ 0.188$ 0.203$ 0.176$ 0.162$ Bonds and interest 0.084 0.083 0.095 0.091 0.092 Police pension 0.074 0.073 0.098 0.098 0.127 Fire pension 0.120 0.139 0.157 0.188 0.203 Total direct tax rate 0.455 0.482 0.553 0.553 0.584 Glenview Public Library 0.303 0.347 0.396 0.394 0.415 Glenview Special Service Area #17 0.115 - - - - Glenview Special Service Area #18 0.148 - - - - Glenview Special Service Area #20 - - - - - Glenview Special Service Area #22 - - - - - Glenview Special Service Area #32 0.082 0.087 0.066 - - Glenview Special Service Area #33 0.370 0.391 0.422 - - Glenview Special Service Area #35 0.233 0.248 0.344 0.328 0.335 Glenview Special Service Area #36 0.153 0.162 0.181 - - Glenview Special Service Area #37 0.133 0.141 0.159 - - Glenview Special Service Area #38 0.894 0.854 1.250 1.210 1.260 Glenview Special Service Area #40 0.079 0.085 0.094 0.094 0.098 Glenview Special Service Area #41 0.079 0.086 0.094 0.079 0.084 Glenview Special Service Area #42 0.440 0.470 0.586 0.575 0.585 Glenview Special Service Area #43 0.122 0.130 0.138 0.138 0.140 Glenview Special Service Area #44 0.168 0.191 0.221 0.212 0.210 Glenview Special Service Area #45 0.444 0.446 0.477 0.467 0.470 Glenview Special Service Area #46 0.598 0.550 0.553 0.581 0.624 Glenview Special Service Area #47 0.568 0.605 0.775 0.713 0.724 Glenview Special Service Area #49 0.241 0.261 0.312 0.312 0.318 Glenview Special Service Area #50 0.130 0.140 0.153 0.150 0.160 Glenview Special Service Area #51 0.279 0.297 0.354 0.349 0.351 Glenview Special Service Area #52 0.141 0.151 0.170 0.168 0.174 Glenview Special Service Area #53 1.035 1.206 1.296 1.263 1.163 Glenview Special Service Area #54 0.695 0.739 0.796 0.751 0.698 Glenview Special Service Area #55 0.410 0.378 0.430 0.379 0.426 Glenview Special Service Area #56 0.971 1.022 1.185 1.090 1.210 Glenview Special Service Area #57 0.566 0.586 0.677 0.668 0.682 Glenview Special Service Area #61 0.188 0.201 0.232 0.228 0.241 Glenview Special Service Area #62 0.228 0.239 0.280 0.272 0.332 Glenview Special Service Area #63 0.245 0.257 0.273 0.271 0.322 Glenview Special Service Area #81 - - - - - Glenview Special Service Area #90 - - - - - Glenview Special Service Area #95 - - - - 0.917 Tax Levy Year VILLAGE OF GLENVIEW DIRECT AND OVERLAPPING PROPERTY TAX RATES Last Ten Levy Years 196 2016 2017 2018 2019 2020 0.156$ 0.156$ 0.164$ 0.071$ 0.040$ 0.075 0.074 0.075 0.067 0.068 0.103 0.100 0.103 0.126 0.139 0.159 0.164 0.169 0.187 0.214 0.493 0.494 0.511 0.450 0.461 0.343 0.336 0.340 0.299 0.305 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 0.255 - - - - - - - - - - - - - - 1.038 1.058 1.071 0.914 0.960 0.074 0.070 0.071 0.056 0.056 0.063 0.053 0.055 0.050 0.041 0.524 0.468 0.436 0.431 0.428 0.113 0.103 0.104 0.087 0.084 0.168 0.148 0.149 0.141 0.128 0.371 0.344 0.351 0.307 0.031 0.471 0.442 0.454 0.446 0.446 0.596 0.600 0.618 0.581 0.614 0.245 0.225 0.229 0.211 0.207 0.129 0.114 0.117 0.100 0.099 0.249 0.233 0.238 0.223 0.209 0.156 0.133 0.133 0.115 0.114 0.800 0.677 0.689 0.615 0.614 0.480 0.401 0.408 0.359 0.361 0.332 0.299 0.292 0.343 - 0.996 0.898 0.925 0.822 0.826 0.592 0.531 0.529 0.472 0.470 0.175 0.157 0.147 0.138 0.135 0.269 0.251 0.229 0.173 0.167 0.238 0.234 0.176 0.159 0.161 0.310 0.258 0.262 0.231 0.230 0.083 0.071 0.072 0.063 0.063 0.848 0.513 0.686 0.505 0.504 (Continued) 197 2011 2012 2013 2014 2015 Avoca School District #37 2.281$ 2.557$ 2.762$ 2.957$ 3.094$ County Consolidated Elections 0.025 - 0.031 - - County of Cook 0.462 0.531 0.560 0.568 0.552 East Maine School District #63 2.775 3.100 3.864 3.811 4.040 Forest Preserve District 0.058 0.063 0.069 0.069 0.069 Glenview Park District 0.538 0.579 0.662 0.661 0.684 Glenview School District #34 2.429 2.706 3.129 3.173 3.291 Golf School District #67 2.449 2.961 3.497 3.427 3.552 Maine High School #207 1.995 2.215 2.722 2.739 2.901 Maine Township - General 0.085 0.096 0.120 0.119 0.124 Maine Township - General Assistance 0.021 0.023 0.029 0.029 0.031 Maine Township - Road and Bridge 0.043 0.049 0.061 0.062 0.065 Metropolitan Water Reclamation Dist.0.320 0.370 0.417 0.430 0.426 New Trier High School #203 1.674 1.864 2.111 2.268 2.380 New Trier Township - General 0.042 0.047 0.054 0.055 0.058 New Trier Township - General Assistance 0.005 0.006 0.007 0.007 0.008 Niles High School #219 2.904 3.256 3.707 3.650 3.891 Niles Township - General 0.037 0.042 0.049 0.050 0.052 Niles Township - General Assistance 0.005 0.006 0.007 0.007 0.008 North Shore Mosquito Abatement 0.010 0.010 0.007 0.011 0.012 Northbrook School District #30 2.641 2.999 3.381 3.272 3.394 Northfield High School #225 1.819 2.028 2.341 2.367 2.493 Northfield Township - General 0.020 0.024 0.031 0.032 0.028 Oakton Community College #535 0.196 0.219 0.256 0.258 0.271 West Northfield School District #31 2.018 2.525 2.946 2.911 3.107 Wilmette School District #39 2.620 2.922 3.229 3.356 3.502 Northfield Township - Road and Bridge 0.041 0.046 0.053 0.054 0.057 Northfield Township - General Assistance 0.008 0.009 0.008 0.007 0.007 Northfield Woods Sanitary District 0.079 0.082 0.098 0.099 0.098 North Maine Fire Protection District 1.366 1.452 1.814 1.815 1.906 Northbrook Park District 0.424 0.471 0.536 0.537 0.569 Oak Meadow Sanitary District 0.051 0.056 0.066 0.067 0.069 Northwest Mosquito Abatement 0.010 0.011 0.013 0.013 0.011 Data Source Office of the County Clerk *Property tax rates are per $100 of assessed valuation Tax Levy Year VILLAGE OF GLENVIEW DIRECT AND OVERLAPPING PROPERTY TAX RATES Last Ten Levy Years 198 2016 2017 2018 2019 2020 2.662$ 2.661$ 2.820$ 2.646$ 2.717$ - 0.031 - 0.030 - 0.533 0.496 0.489 0.454 0.453 3.492 3.556 3.763 3.245 3.245 0.063 0.062 0.060 0.059 0.058 0.563 0.567 0.651 0.576 0.591 2.719 2.745 2.898 2.584 2.986 2.957 2.962 3.110 2.766 2.746 2.507 2.529 2.652 2.553 2.639 0.108 0.105 0.092 0.033 0.053 0.027 0.021 - - 0.008 0.056 0.057 0.060 0.053 - 0.406 0.402 0.396 0.389 0.378 1.974 1.993 2.111 2.028 2.085 0.049 0.050 0.053 0.033 0.053 0.007 0.007 0.008 - 0.008 3.460 3.409 3.347 3.017 3.029 0.046 0.047 0.049 0.045 0.046 0.007 0.007 0.008 0.007 0.008 0.010 0.010 0.010 0.009 0.009 2.866 3.193 3.310 3.310 3.310 2.106 2.102 2.216 2.216 2.216 0.024 0.023 0.024 0.024 0.022 0.231 0.232 0.246 0.221 0.227 2.699 2.700 2.842 2.577 2.672 2.840 2.880 3.081 2.939 3.023 0.049 0.049 0.052 0.021 0.021 0.006 0.006 0.007 0.007 0.007 0.088 0.065 0.093 0.082 0.084 1.664 1.711 1.770 1.416 1.446 0.423 0.419 0.456 0.416 0.427 0.059 0.063 0.064 0.052 0.052 0.010 0.010 0.011 0.009 0.009 199 VILLAGE OF GLENVIEW PRINCIPAL PROPERTY TAXPAYERS Current Year and Nine Years Ago 2020 2011 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 50,811,585 $ 1 1.83%$ Abt Electronics 33,546,524 2 1.21%15,856,299 10 0.58% The Glenview Center 23,611,869 3 0.85% Astella US Holdings 22,031,355 4 0.80% CPUS Glen Pointe LP 20,964,516 5 0.76% Signode , Division of ITW 20,699,583 6 0.75%16,565,954 8 0.61% Glen Gate Retail LLC 20,087,027 7 0.73% Kimco Realty Corp.19,121,202 8 0.69% Globe Patriot LLC 18,436,803 9 0.67% Cole of Glenview IL LLC 16,700,993 10 0.60% Kraft USA 41,189,495 1 1.52% Grubb & Ellis 39,586,718 2 1.46% Oliver McMillan LLC 31,067,249 3 1.14% Mid America Asset 28,229,193 4 1.04% Cole Real Estate Investments 19,373,904 5 0.71% Vi (Classic Residence Hyatt)19,027,120 6 0.70% AGF Sanders Office 17,705,216 7 0.65% Anixter, Inc.16,154,886 9 0.60% 246,011,457 $ 8.88%244,756,034 $ 9.03% 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. 200 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 2011 2012 18,561,309$ 18,202,205$ 98.07%54,411$ 18,256,616$ 98.36% 2012 2013 18,977,508 18,647,991 98.26%(8,221)18,639,770 98.22% 2013 2014 19,213,934 18,997,309 98.87%(80,621)18,916,688 98.45% 2014 2015 19,401,829 19,017,834 98.02%(80,264)18,937,570 97.61% 2015 2016 20,103,470 19,871,822 98.85%(70,517)19,801,305 98.50% 2016 2017 20,553,974 20,404,588 99.27%(92,393)20,312,195 98.82% 2017 2018 20,898,255 20,721,748 99.16%(40,485)20,681,263 98.96% 2018 2019 20,889,249 20,707,546 99.13%(75,346)20,632,200 98.77% 2019 2020 21,051,445 20,711,241 98.38%(108,227.00) 20,603,014 97.87% 2020 2021 21,194,067 20,678,063 97.57%- 20,678,063 97.57% 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 201 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* 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 2019 29,053,149 280,260 - - 5,422,699 34,756,108 1.19%735 2020 20,331,496 255,889 - - 4,578,833 25,166,218 0.82%532 2021 11,339,843 231,518 - - 3,547,441 15,118,802 0.47%310 Source: The Village of Glenview's Annual Comprehensive Financial Report. * Additional demographic information is available in the schedule of Demographic and Economic Statistics . 202 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) 2012 92,365,000$ -$ 92,365,000$ 3.77%2,067 $ 2013 74,991,402 - 74,991,402 3.27%1,566 2014 69,609,411 - 69,609,411 3.44%1,558 2015 61,752,302 - 61,752,302 3.01%1,360 2016 53,732,671 - 53,732,671 2.67%1,184 2017 45,983,788 - 45,983,788 1.87%988 2018 37,645,969 - 37,645,969 1.49%800 2019 29,053,149 - 29,053,149 1.18%615 2020 20,331,496 - 20,331,496 0.72%430 2021 11,339,843 - 11,339,843 0.41%233 Source: The Village of Glenview's Annual Comprehensive 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. 203 VILLAGE OF GLENVIEW DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT As of December 31, 2021 Percentage Village of Debt Applicable Glenview to the Village of Share Governmental unit Debt Glenview (1)of Debt Direct Debt Village of Glenview 11,571,361 $ 100.00%11,571,361 $ Overlapping Bonded Debt Glenview Special Service Areas 1,628,969 100.00%1,628,969 Glenview Park District 18,743,000 84.97%15,925,927 Cook County, including Forest Preserve District 2,681,856,750 1.67%44,787,008 Metropolitan Water Reclamation District 2,563,828,340 1.70%43,585,082 School Districts Elementary School Districts Avoca School District No. 37 8,440,000 8.59%724,996 East Maine School District No. 63 46,415,000 4.57%2,121,166 Glenview School District No. 34 66,355,000 89.47%59,367,819 Golf School District No. 67 7,266,597 13.18%957,737 Northbrook School District No. 30 43,345,000 31.56%13,679,682 West Northfield School District No. 31 11,410,000 49.26%5,620,566 Wilmette School District No. 39 9,800,000 4.69%459,620 High School Districts Maine Township District No. 207 167,610,000 1.06%1,776,666 New Trier Township District No. 203 72,475,000 2.35%1,703,163 Niles Township District No. 219 50,188,952 1.13%567,135 Northfield Township District No. 225 51,795,429 42.14%21,826,594 Community College District Oakton Community College No. 535 28,425,000 11.04%3,138,120 Total overlapping bonded debt 5,829,583,037 217,870,249 Total direct and overlapping bonded debt 5,841,154,398 $ 229,441,610 $ Source: Cook County Clerk as of 04/10/2022 (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 2018 real property valuations. 204 VILLAGE OF GLENVIEW LEGAL DEBT MARGIN INFORMATION As of December 31, 2021 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 included in the foregoing percentage amount." 205 VILLAGE OF GLENVIEW DEMOGRAPHIC AND ECONOMIC STATISTICS Last Ten Fiscal Years Per Personal Capita Fiscal Income Personal Unemployment Year Population (in Thousands)Income Rate 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% 2019 47,258 2,913,172 61,644 2.4% 2020 47,308 3,083,062 65,170 7.0% 2021 48,705 3,219,303 66,098 4.2% 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) 206 VILLAGE OF GLENVIEW PRINCIPAL EMPLOYERS Current Year and Nine Years Ago % of % of Number of Total Village Number of Total VillageEmployerRankEmployeesPopulationRankEmployeesPopulation Astellas 1 2,448 5.03%2 1,010 2.26% Abt Electronics 2 1,660 3.41%4 919 2.06% Glenbrook Hospital 3 1,000 2.05%3 1,000 2.24% Anixter, Inc.4 916 1.88%6 680 1.52% Glenview Comm. School Dist 34 5 740 1.52%8 646 1.45% ITW 6 640 1.31%5 725 1.62% Kraft Foods Technology Center 7 580 1.19%1 1,440 3.22% Glenbrook South High School 8 405 0.83%9 500 1.12% Signode 9 393 0.81%10 350 0.78% Glenview Terrace Nursing Home 10 351 0.72% Aon 7 650 1.45% 18.75%17.72% Source: Illinois Manufacturers Services Directory, Illinois Services Directory and Employer Contact 2021 2012 207 Function/Program 2012 2013 2014 2015 General Government Management services (1)15 15 15 9 Administrative services (1)13 12 13 16 Planning and economic development (2)5 5 - - Community development (3)- - 21 20 Capital projects (3)25 20 - - Total general government 58 52 49 45 Public safety Police Officers 70 70 70 70 Civilians 12 12 11 5 Fire Firefighters and officers 80 80 80 80 Civilians 2 2 1 1 Joint dispatch 21 27 40 40 Total public safety 185 191 202 196 Public works Administration 6 6 6 5 Facilities maintenance (4)- - 4 4 Street maintenance 21 21 21 21 Water maintenance 18 19 19 16 Fleet maintenance 4 4 4 4 Natural resources 1 1 1 1 Total public works 50 50 55 51 Total full-time equivalent employees 293 293 306 292 (1) (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 VILLAGE OF GLENVIEW FULL-TIME EQUIVALENT EMPLOYEES Last Ten Fiscal Years Records division previously included in Management Services is included in Administrative Services as of 2015. 208 2016 2017 2018 2019 2020 2021 9 10 10 11 11 11 16 14 17 14 13 13 - - - - - - 19 18 18 18 16 15 - - - - - - 44 42 45 43 40 39 70 70 70 69 69 70 5 5 5 7 6 5 80 80 80 81 80 83 1 1 1 1 1 1 42 48 49 49 48 47 198 204 205 207 204 206 6 6 5 4 4 3 4 4 3 3 - - 21 20 20 13 14 15 16 16 15 16 13 13 4 4 4 3 3 3 1 1 1 1 1 1 52 51 48 40 35 35 294 297 298 290 279 280 209 Function/Program 2012 2013 2014 2015 Public Safety Police Physical arrests 544 570 506 551 Parking violations 1,125 2,272 1,922 2,388 Traffic violations 2,511 2,646 2,352 2,198 Fire Emergency responses Emergency medical 4,832 4,495 4,860 4,925 Other responses 2,327 2,835 2,821 2,898 Fires extinguished 63 47 39 41 Fires extinguished (structures)27 26 32 45 Public works Pothole repairs (hours)4,267 4,390 5,182 5,519 Water Metered water customers 15,894 15,889 16,050 16,053 Water main breaks 171 146 102 59 Water purchases (in ten-thousands of gallons)306,706 289,550 273,095 272,568 Average daily consumption 138 129 120 111 Building Permits issued 1,471 1,918 3,503 3,433 Value of construction (in thousands of dollars)39,693 $ 164,556 $ 193,829 $ 119,447 $ Data Source Various Village departments. VILLAGE OF GLENVIEW OPERATING INDICATORS BY FUNCTION/PROGRAM Last Ten Fiscal Years 210 2016 2017 2018 2019 2020 2021 557 544 476 380 246 252 1,813 2,509 1,840 1,912 380 512 3,491 3,214 3,365 3,334 2,075 2,536 5,220 5,668 5,505 5,700 5,022 5,560 3,032 2,968 3,164 3,142 2,636 1,967 42 67 98 98 105 105 38 41 47 18 14 23 4,115 3,918 3,671 2,892 1,000 857 16,139 16,243 16,272 16,035 16,335 16,357 134 91 142 103 104 84 288,410 280,038 281,164 256,094 316,042 361,833 107 103 113 110 106 105 2,042 2,457 3,389 3,015 3,214 3,214 110,630 $ 94,337 $ 127,664 $ 105,552 $ 81,515 $ 121,650 $ 211 Function/Program 2012 2013 2014 2015 2016 Public Safety Police Police stations 1 1 1 1 1 Marked patrol units 18 18 18 18 18 Unmarked patrol units 12 11 11 11 11 Motorcycles 4 4 4 4 4 Civilian vehicles 3 3 3 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 2 2 2 2 Passenger vehicles 6 6 5 5 2 Public works Streets and highways Arterial street miles 18 18 18 20 20 Residential street miles 158 158 167 167 169 Streetlights 1,800 1,800 1,800 1,800 1,791 Water Water main miles 230 230 247 230 233 Fire hydrants 2,733 2,733 2,823 2,866 2,867 Storage capacity (in millions of gallons)16,050 16,050 16,300 16,300 16,300 Wastewater Sanitary sewer miles 150 150 150 150 150 Storm sewer miles 262 262 262 262 262 Parking facilities Parking spaces 2,048 2,153 2,153 2,153 2,153 Data Source: Various Village departments, data varies due to improved GIS capabilities. N/A - Information is not available VILLAGE OF GLENVIEW CAPITAL ASSET STATISTICS BY FUNCTION/PROGRAM Last Ten Fiscal Years 212 2017 2018 2019 2020 2021 1 1 1 1 1 18 18 18 18 18 11 10 12 12 13 4 2 2 2 2 3 3 3 3 3 5 5 5 5 5 5 5 5 5 5 6 6 6 6 6 2 2 2 2 2 2 5 5 5 5 20 20 20 20 20 169 169 166 166 166 1,791 1,791 1,720 1,692 1,692 233 233 239 239 239 2,867 2,913 2,888 2,872 2,872 16,300 16,300 16,300 16,300 16,300 150 150 142 142 142 262 262 218 218 218 2,153 2,153 2,153 2,153 2,153