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Village CAFR For Year Ended April 30, 19947t" Ell, Ell - h�5/ � - 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS Comprehensive Annual Financial Report Table of Contents PAGE INTRODUCTORY SECTION Principal Officials i Organization Chart ii Certificate of Achievement for Excellence in Financial Reporting iii Director of Finance's Letter of Transmittal iv -x FINANCIAL SECTION REPORT OF INDEPENDENT AUDITORS 1-2 GENERAL PURPOSE FINANCIAL STATEMENTS All Fund Types, Account Groups and Discretely Presented Component Unit Combined Balance Sheet 3 All Governmental and Fiduciary (Expendable Trust) Fund Types, and Discretely Presented Component Unit Combined Statement of Revenues, Expenditures, and Changes in Fund Balances 4 General, Special Revenue, and Debt Service Fund Types Combined Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual 5 All Proprietary and Fiduciary (Pension Trust) Fund Types Combined Statement of Revenues, Expenses, and Changes in Retained Earnings - Unreserved /Fund Balances 6 All Proprietary Fund Types Combined Statement of Cash Flows 7 Notes to Financial Statements 8-40 VILLAGE OF DEERFIELD, ILLINOIS Comprehensive Annual Financial Report Table of Contents PAGE FINANCIAL SECTION (CONT.) COMBINING, INDIVIDUAL FUND, AND ACCOUNT GROUP STATEMENTS AND SCHEDULES GOVERNMENTAL FUND TYPES GENERAL FUND General Fund Balance Sheet 41 Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 42 Schedule of Revenues - Budget and Actual 43 Schedule of Expenditures - Budget and Actual 44-46 SPECIAL REVENUE FUNDS All Funds Combining Balance Sheet 47 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 48 Municipal Audit Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 49 Emergency Services /Disaster Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 50 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS Comprehensive Annual Financial Report Table of Contents PAGE FINANCIAL SECTION (CONT.) GOVERNMENTAL FUND TYPES (CONT.) SPECIAL REVENUE FUNDS (CONT.) Street and Bridge Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 51 Schedule of Expenditures - Budget and Actual 52 -56 Illinois Municipal Retirement Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 57 Motor Fuel Tax Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 58 Transportation Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 59 Enhanced 911 Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 60 VILLAGE OF DEERFIELD, ILLINOIS Comprehensive Annual Financial Report Table of Contents PAGE FINANCIAL SECTION (CONT.) GOVERNMENTAL FUND TYPES (CONT.) DEBT SERVICE FUNDS All Funds Combining Balance Sheet 61 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 62 Debt Service Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 63 Schedule of Expenditures - Budget and Actual 64 CAPITAL PROJECT FUNDS All Funds Combining Balance Sheet 65 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 66 PROPRIETARY FUND TYPES ENTERPRISE FUNDS All Funds Combining Balance Sheet 67 Combining Statement of Revenues, Expenses, and Changes in Retained Earnings 68 Combining Statement of Cash Flows 69 VILLAGE OF DEERFIELD, ILLINOIS Comprehensive Annual Financial Report Table of Contents PAGE FINANCIAL SECTION (CONT.) PROPRIETARY FUND TYPES (CONT.) ENTERPRISE FUNDS (CONT.) Water Fund Balance Sheet 70 Statement of Revenues, Expenses, and Changes in Retained Earnings- Unreserved - Budget and Actual 71 Schedule of Operating Expenses - Budget and Actual 72 -73 Schedule of Fixed Assets and Depreciation 74 Sewerage Fund Balance Sheet 75 Statement of Revenues, Expenses, and Changes in Retained Earnings - Unreserved - Budget and Actual 76 Schedule of Operating Expenses - Budget and Actual 77 -78 Schedule of Fixed Assets and Depreciation 79 Refuse Fund Balance Sheet 80 Statement of Revenues, Expenses, and Changes in Retained Earnings - Unreserved - Budget and Actual 81 VILLAGE OF DEERFIELD, ILLINOIS Comprehensive Annual Financial Report Table of Contents PAGE FINANCIAL SECTION (CONT.) PROPRIETARY FUND TYPES (CONT.) ENTERPRISE FUNDS (CONT.) Commuter Parking Lot Fund Balance Sheet 82 Statement of Revenues, Expenses, and Changes in Retained Earnings- Unreserved - Budget and Actual 83 Schedule of Operating Expenses - Budget and Actual 84 Schedule of Fixed Assets and Depreciation 85 INTERNAL SERVICE FUNDS All Funds Combining Balance Sheet 86 Combining Statement of Revenues, Expenses, and Changes in Retained Earnings - Unreserved 87 Combining Statement of Cash Flows 88 Garage Fund Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual 89 Schedule of Operating Expenses - Budget and Actual 90 Insurance Fund Statement of Revenues, Expenses, and Changes in Retained Earnings - Unreserved 91 VILLAGE OF DEERFIELD, ILLINOIS Comprehensive Annual Financial Report Table of Contents PAGE FINANCIAL SECTION (CONT.) FIDUCIARY FUND TYPES TRUST AND AGENCY FUNDS All Funds Combining Balance Sheet 92 Statement of Revenues, Expenditures, and Changes in Fund Balance (Expendable Trust Fund) 93 Statement of Revenues, Expenses, and Changes in Fund Balance - Budget and Actual (Pension Trust Fund) 94 Combining Statement of Changes in Assets and Liabilities (Agency Funds) 95 -96 ACCOUNT GROUPS GENERAL FIXED ASSETS ACCOUNT GROUP Schedule of General Fixed Assets - by Source 97 Schedule of General Fixed Assets - by Function 98 Schedule of Changes in General Fixed Assets - by Function 99 GENERAL LONG -TERM DEBT ACCOUNT GROUP Schedule of General Long -Term Debt 100 COMPONENT UNIT STATEMENTS AND SCHEDULES Public Library Combining Balance Sheet 101 Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 102 Schedule of Expenditures - Budget and Actual 103 Schedule of General Fixed Assets 104 ✓7 VILLAGE OF DEERFIELD, ILLINOIS Comprehensive Annual Financial Report Table of Contents PAGE FINANCIAL SECTION (CONT.) SUPPLEMENTAL DATA Required Supplementary Information Analysis of Funding Progress Illinois Municipal Retirement Fund 105 Police Pension Fund 106 Revenues by Source Illinois Municipal Retirement Fund 107 Revenues by Source and Expenses by Type Police Pension Fund 108 Schedule of Insurance in Force 109 Long -Term Debt Requirements Corporate Purpose Bond Series of 1986 110 Corporate Purpose Bond Series of 1987 111 Corporate Purpose Bond Series of 1988 112 General Obligation Bond Series of 1991 113 Corporate Purpose Bond Series of 1982 114 General Obligation Refunding Bond Series of 1993 115 STATISTICAL SECTION General Governmental Revenues by Source - Last Ten Fiscal Years 116 General Governmental Expenditures by Function - Last Ten Fiscal Years 117 Property Tax Assessed Valuations, Rates, Extensions, and Collections - Last Ten Fiscal Years 118 Assessed and Estimated Actual Value of Taxable Property - Last Ten Fiscal Years 119 VILLAGE OF DEERFIELD, ILLINOIS Comprehensive Annual Financial Report Table of Contents PAGE STATISTICAL SECTION (CONT.) Property Tax Rates - Direct and Overlapping Governments - Last Ten Fiscal Years 120 Ratio of Net General Obligation Bonded Debt to Assessed Value and Net General Obligation Bonded Debt Per Capita - Last Ten Fiscal Years 121 Schedule of Direct and Overlapping Bonded Debt 122 Schedule of Legal Debt Margin 123 Ratio of Annual Debt Service Expenditures for General Obligation Bonded Debt to Total General Governmental Expenditures - Last Ten Fiscal Years 124 Demographic Statistics - Last Ten Fiscal Years 125 Property Value, Construction, and Bank Deposits - Last Ten Fiscal years 126 Principal Taxpayers 127 Miscellaneous Statistics 128 -129 VILLAGE OF DEERFIELD, ILLINOIS Principal Officials April 30,1994 LEGISLATIVE VILLAGE BOARD OF TRUSTEES Bernard Forrest, Mayor Harriet E. Rosenthal John H. Heuberger Marvin W. Ehlers Robert D. Franz, Clerk ADMIlVISTRATIVE Edwin B. Seidman Vernon E. Swanson Michael Swartz Robert D. Franz, Village Manager FINANCE DEPARTMENT George J. Valentine Director of Finance /Treasurer i 1 1 i 1 1 ['I 1 1 I 1 1 � V ww LU Ow C7 W o ►N H a� �O W w W V � W � o Q � � w Q u w 3 U (� z zw� Q o� 3w�,wAW W¢W(aj�A x � QW� oa 3v�v��v�a 3 z� w C) U �wQH �A �a 00a¢ a N m U`��' �Q¢a z 0 o U z U O�x ° Q�ooWouWW�� ar., UC4 0 1 Certificate of 1 Achievement for Excellence in Financial 1 Reporting Presented to Village of Deerfield, Illinois i For its Comprehensive Annual Financial Report for the Fiscal Year Ended April 30, 1993 ' A Certificate of Achievement for Excellence in Financial Reporting is presented by the Government Finance Officers Association of the United States and Canada to government units and public employee retirement systems whose comprehensive annual financial reports (CAFRs) achieve the highest standards in government accounting and financial reporting. 1 1 1 1 L 1 President (7 4t Executive Director iii 1 (� 1 I 1 1 VILLAGE OF DEERFIELD October 17, 1994 To: The Mayor and Board of Trustees and the residents of the Village of Deerfield ' The comprehensive annual financial report of the Village of Deerfield for the fiscal year ended April 30, 1994, is hereby submitted. Responsibility for both the accuracy of the data and the completeness and fairness of the presentation, including all disclosures, rests with the Village. To the best of our knowledge and belief, the enclosed data is accurate in all material respects and is reported in a manner designed to present fairly the financial position and results of operations of the various funds and account groups of the Village. All disclosures necessary ' to enable the reader to gain an understanding of the Village's financial activities have been included. ' The comprehensive annual financial report is presented in three sections: introductory, financial, and statistical. The introductory section includes this transmittal letter, the Village's organizational chart and a list of principal officials. The financial section includes the general ' purpose financial statements, the combining, individual fund, and account group financial statements and schedules, as well as the independent auditor's report on the financial statements and schedules. The statistical section includes selected- financial and demographic information, generally presented on a multi year basis. This report includes all funds and account groups of the Village. The t Village provides a full range of services. These services include police protection; sanitation services; the construction and maintenance of highways, streets, sanitary sewers, waste water treatment infrastructure; and cultural events. In addition to general Village activities, the ' Village Board exercises, or has the ability to exercise, oversight of the Village of Deerfield Police Pension Retirement System and the Deerfield Public Library. These activities are included in the reporting entity; however, West Deerfield Township, Highland Park Mosquito Abatement District, Deerfield Park District and Deerfield Bannockburn Fire Protection District have not met the established criteria for inclusion in the reporting entity, and, accordingly, are excluded from this report. ' iv 1 850 WAUKEGAN ROAD DEERFIELD, ILLINOIS 60015 TELEPHONE 708.945.5000 ECONOMIC CONDITION AND OUTLOOK ' Incorporated in 1903 and located 27 miles north of downtown Chicago, the Village is predominantly a community of single family homes. The 1990 Census recorded a population of 17,327 within a land area of 7.0 square ' miles. The Village's population decreased less than 1.0% from 1980, whereas the number of housing units in the Village grew 10.3% to 6,054, continuing the trend toward smaller household sizes. ' The northern Cook County and southern Lake County area has undergone rapid economic development. A major portion of this development is centered on the Lake Cook corridor. The Village of Deerfield is located in the ' middle of the Lake Cook corridor and in both counties. The Cook County area encompasses 11.5% of the Village's equalized assessed valuation, and, according to the 1990 census, the area is made up entirely of commercial properties. Recently completed were entrance and exit ramps for the Illinois toll road at Lake Cook Road which provide improved access and reduce dependency on the crowded Deerfield Road entrance. A further indication of the Village's financial growth is the Village's current ' inventory of 1050 hotel /motel rooms. This has increased from 1985 when the Village had no hotel rooms. This is important to the Village since the Village levies a 5% occupancy tax on rooms which yielded $1,071,119 for the year ending 4/30/94, which is a 7.25% increase over 1992 -93. ' Unemployment in Lake County in August 1994 was 4.3% compared with 5.3% in the state of Illinois and estimated 1.1% in Deerfield. Sara Lee, a bakery products company, closed its bakery operations in ' January 1991. The Village does not believe that this has had a significant impact on Village revenues since Sara Lee's assessed valuation at the time of closing was only 1.2% of the Village's total. This site was primarily a bakery goods processing plant and had little retail sales. There were ' approximately 400 employees working for Sara Lee; however, their hiring area was spread throughout Lake and Cook Counties, and relatively few of the affected employees were residents of Deerfield. Therefore, any ' economic dislocations involved were spread over a broad area with minimal direct impact on the Village of Deerfield. The Village Board is currently finalizing approval for the development ' of a Residential Planned Unit Development at the former Sara Lee site by Optima, Inc. Optima will redevelop the 50 acre PUD with 400 units consisting of multifamily/ condominiums, townhomes and single family units, which is consistent with the Village's Comprehensive Plan. The development ' of this PUD will provide the Village, schools, park district, library, and fire districts with impact fees of $1.4 million in cash and 2.66 acres of land. The fire district will relocate and build afire station on the 2.66 acres of land and will surrender its current station to the Village. The demolition of the Sara Lee buildings is complete, and model units are expected to be available by late spring of 1995. It is estimated that the Optima development will increase Deerfield's population by 800. ' The Village sales tax revenue for 1994 was $2,313,020 compared to $2,212,747 for 1993. This is a 4.5% increase, which can be considered an indicator of a vital economy. ' All of these factors indicate that Deerfield is and will continue to be a financially vibrant community. ' V 1 MAJOR INITIATIVES For the Year The renovation of the storm and sanitary sewers, begun in 1982, is an ongoing program which is now in Phase III. Phase III was financed with • $3,000,000 bond issue sold in October 1988. The Village has provided • total capital funding of $14,000,000 for this project. Any additional renovation required will be smaller and will depend on specific demand. The Village has continued its efforts to improve the appearance and economic vitality of the Central Business District, designated as a Tax Incremental Financing District. For the year, the TIF 2 district has had expenditures totalling $1,089,238 primarily for the Streetscape improvements along Waukegan Road. The Village, in conjunction with-the U. S. Army Corps of Engineers and the Illinois Department of Transportation - Division of Water Resources, is completing the regional storm water retention basin at the southwest corner of Lake -Cook and Pfingsten Roads. This project is part of the North Branch Storm Water Management Plan, providing protection to Deerfield and the downstream communities of Northbrook and Glenview. Scheduled for completion in the fall of 1994, this multi -year construction project will continue to demand significant attention from the Village. In response to growing environmental awareness and concern for decreasing landfill capacity, Deerfield initiated the weekly curbside collection of recyclable newspapers, glass and cans from residences within the Village in September 1989. Plastic milk bottles were added to the program in October of 1990, and other plastics were added in September of 1991. In September 1994, Deerfield expanded its recycling of plastics to include 15 thru 17. After many years of actively promoting recycling, Deerfield was recently recognized as one of the top recycling communities in Lake County. The curbside program, as well as other scavenger services, is administered through a negotiated contract with Laidlaw Waste Systems extended through December 31, 1995. 1990 also saw the implementation of 'Deerfield's yard waste collection program. Developed in response to the state ban on the landfilling of lawn wastes, more than 17,000. cubic yards have not been landfilled. Because of all these services, over 438 of the residential refuse was diverted from area landfills between January 1, 1990 and July 31, 1994. Approximately 898 of all families in the Village of Deerfield participate in the recycling program. For the Future In October 1986, the Village of Deerfield developed a plan to upgrade the overall quality and economic vitality of its Village Center (downtown). Located in the geographic center of the community, this six -block area exhibits many of the typical problems common to aging commercial districts throughout the country. Diverse ownership of inadequately sized and ill- arranged parcels has resulted in incompatible development, causing both visual and functional problems. The Village has added the 52 acre Sara Lee site to this district. Experience has clearly shown that economic revitalization generally occurs in areas where there is a joint venture between the public and private Vi 1 ' Deerfield has been awarded a $1.7 million CMAQ grant to provide shuttle bus service for reverse commuters utilizing the new Lake Cook train station as well as for the installation of sidewalks leading to the station. Recycling /Scavenger Service After a successful second year, the Public Works Department is making preparations for the weekly collection of leaves from residential areas ' of the Village. Previously gathered only once each fall, the weekly pick -up during November is an increase in service due to the state ban on landfilling yard wastes and resident requests for additional service. Leaves are recycled into a landfill. FINANCIAL INFORMATION Management of the Village is responsible for establishing and maintaining an internal control structure designed to ensure that the assets of the Village are protected from loss, theft or misuse and to ensure that adequate accounting data are compiled to allow for the preparation of financial statements in conformity with generally accepted accounting principles. The internal control structure is designed to provide reasonable, but not absolute, assurance that these objectives are met. The concept of reasonable assurance recognizes that: (1) the cost of a control should not exceed the benefits likely to be derived; and (2) the valuation of costs and benefits requires estimates and judgments by management. ' Budgeting Controls. In addition, the Village maintains budgetary controls. The objective of these budgetary controls is to ensure compliance with legal provisions embodied in the annual appropriated budget approved by ' the Village's governing body. Activities of the general fund, special revenue funds, debt service fund, enterprise funds, internal service fund (garage fund), and pension trust funds are included in the annual appropriated budget. ' Project - length financial plans are adopted for the capital projects funds. The level of budgetary control (that is, the level at which expenditures cannot legally exceed the appropriated amount) is established at the fund level. The Village also maintains an encumbrance accounting system as Vii sectors. Deerfield, in recognizing the importance of that philosophy, has begun a redevelopment program that commits substantial public funds to its Village Center. As might be expected, preference must be given ' to acquisition of property and basic capital improvements which will promote private investment in the area. At the same time, better pedestrian access and improvement of the general appearance of a downtown contribute significantly to its economic well- being. Reverse Commuter Grant The Village and the Lake Cook Road TMA (Transportation Management Association) will also continue to work with METRA (the metropolitan rail division of the Regional Transportation Authority) to developea second commuter rail station within the Village. Planned to serve traditional ' and "reverse" commuters in the Lake -Cook corridor, the station will be located on part of the 26 acre site being developed jointly by Metra and Deerfield. Approximately 400 -500 commuter parking spaces will be provided ' during the initial phase of construction (1993 -94), with a total of 800 when development is completed. ' Deerfield has been awarded a $1.7 million CMAQ grant to provide shuttle bus service for reverse commuters utilizing the new Lake Cook train station as well as for the installation of sidewalks leading to the station. Recycling /Scavenger Service After a successful second year, the Public Works Department is making preparations for the weekly collection of leaves from residential areas ' of the Village. Previously gathered only once each fall, the weekly pick -up during November is an increase in service due to the state ban on landfilling yard wastes and resident requests for additional service. Leaves are recycled into a landfill. FINANCIAL INFORMATION Management of the Village is responsible for establishing and maintaining an internal control structure designed to ensure that the assets of the Village are protected from loss, theft or misuse and to ensure that adequate accounting data are compiled to allow for the preparation of financial statements in conformity with generally accepted accounting principles. The internal control structure is designed to provide reasonable, but not absolute, assurance that these objectives are met. The concept of reasonable assurance recognizes that: (1) the cost of a control should not exceed the benefits likely to be derived; and (2) the valuation of costs and benefits requires estimates and judgments by management. ' Budgeting Controls. In addition, the Village maintains budgetary controls. The objective of these budgetary controls is to ensure compliance with legal provisions embodied in the annual appropriated budget approved by ' the Village's governing body. Activities of the general fund, special revenue funds, debt service fund, enterprise funds, internal service fund (garage fund), and pension trust funds are included in the annual appropriated budget. ' Project - length financial plans are adopted for the capital projects funds. The level of budgetary control (that is, the level at which expenditures cannot legally exceed the appropriated amount) is established at the fund level. The Village also maintains an encumbrance accounting system as Vii one technique of accomplishing budgetary control. Encumbered amounts lapse at year end. However, encumbrances generally are reappropriated as part of the following year's budget. As demonstrated by the statements and schedules included in the financial section of this report, the Village continues to meet its responsibility for sound financial management. General Government Functions. The following schedule presents a summary of general fund,-special revenue funds, and debt service funds revenues for the fiscal year ended April 30, 1994, and the amount and percentage of increases and decreases in relation to prior year revenues. Revenues* Taxes Licenses & Permits Intergovernmental Charges for Services Fines Interest Miscellaneous Total 9,265,201 100.00 238,679 2.64 *Amounts above exclude discretely presented Component Unit - Public Library Taxes. The general heading of taxes encompasses several different types of taxes. Property tax makes up 35% of taxes or $2,287,961. This is a decrease of $47,258 from the prior year, or a 1.85% decrease. Sales tax is another major category of revenue. The Village receives a 18 tax on the exchange of tangible personal property. This tax is collected by the State of Illinois and remitted to the Village. For the year ended April 30, 1994, sales tax receipts totalled $2,313,020 or 35% of the total taxes received. This is an increase over the previous year of approximately 4.5 %. The Village believes that 'the increase is indicative of the strength of the Village business community. Another significant revenue source is the hotel tax, a 5% tax computed on gross room sales. This is a relatively new tax for the Village. The Village had no hotel rooms or hotel tax revenue in 1985, but now has approximately 1050 rooms and 1993 -94 tax receipts of $1,071,119 which is 15% of total taxes received in 1993 -94, and an increase of 78 over 1992- 93. It is the Village's belief that this tax will continue to increase at a rate exceeding the cost of living. Licenses and Permits. License and permit revenue has remained the same. There was a small reduction in the number of building permits issued due to a pause in building activities in 1993 -94. Given the development anticipated for 1994 -95, this situation will not be repeated next year. Interest. Interest earnings dropped slightly, less than 1% due to a general reduction in interest rates. viii Increase Percent 1994 Percent (Decrease) of Increase Amount of Total from 1993 (Decrease) 6,579,948 71.02 170,071 2.65 535,845 5.78 (18,576) (3.35) 416,605 4.50 64,160 18.20 246,246 2.66 (49,087) (16.62) 275,369 2.97 2,621 .96 634,158 6.84 (1,183) (.19) 577,030 6.23 70,673 13.96 Total 9,265,201 100.00 238,679 2.64 *Amounts above exclude discretely presented Component Unit - Public Library Taxes. The general heading of taxes encompasses several different types of taxes. Property tax makes up 35% of taxes or $2,287,961. This is a decrease of $47,258 from the prior year, or a 1.85% decrease. Sales tax is another major category of revenue. The Village receives a 18 tax on the exchange of tangible personal property. This tax is collected by the State of Illinois and remitted to the Village. For the year ended April 30, 1994, sales tax receipts totalled $2,313,020 or 35% of the total taxes received. This is an increase over the previous year of approximately 4.5 %. The Village believes that 'the increase is indicative of the strength of the Village business community. Another significant revenue source is the hotel tax, a 5% tax computed on gross room sales. This is a relatively new tax for the Village. The Village had no hotel rooms or hotel tax revenue in 1985, but now has approximately 1050 rooms and 1993 -94 tax receipts of $1,071,119 which is 15% of total taxes received in 1993 -94, and an increase of 78 over 1992- 93. It is the Village's belief that this tax will continue to increase at a rate exceeding the cost of living. Licenses and Permits. License and permit revenue has remained the same. There was a small reduction in the number of building permits issued due to a pause in building activities in 1993 -94. Given the development anticipated for 1994 -95, this situation will not be repeated next year. Interest. Interest earnings dropped slightly, less than 1% due to a general reduction in interest rates. viii ' Miscellaneous. The major increase in miscellaneous .revenue was in the General Fund for franchise fees. The Village signed a retroactive t agreement with Illinois Bell for the use of the public way. The retroactive portion was $29,993, and the additional monthly fee was approximately $1,000. General Fund Balance. The undesignated fund balance has increased to ' $2,424,768 from $2,169,839 and the Village's designated fund balance has remained at $4,750,000. The designated fund balance represents the Village's continuing intent to fund a large portion of the downtown TIF by advances from the General Fund. At this point,. the Village has advanced ' $1,320,000 and has an additional $3,500,000 designated for this project. In addition, the Village has designated $1,250,000 for future capital expenditures for repairs and maintenance of infrastructures. The Village's undesignated fund balance of $2,424,768 is the equivalent of 147 working ' days of expenditures. Enterprise paerations. The Village's enterprise operations are comprised ' of four separate and distinct activities: the Water Fund, the Sewerage Fund, the Refuse Fund, and the Commuter Parking Lot Fund. The Water Fund operating expenses (before depreciation) were decreased ' by approximately $46,000 due primarily to a decrease in the cost of water ix 1 The following schedule presents a summary of general fund, special revenue ' funds, and debt service funds expenditures for the fiscal year ended April 30, 1994, and the percentage of increases and decreases in relation to prior year amounts. Increase Percent 1994 Percent (Decrease) of Increase Expenditures* Amount of Total from 1993 (Decrease) 1 Current General Govt. 1,642,966 18.62 109,601 7.15 Public Safety 3,384,134 38.35 389,240 13.00 Highways /Streets 1,164,741 13.20 99,474 9.34 Misc. 668,825 7.58 (17,203) (2.51) Debt Service Principal 1,370,000 15.53 110,000 8.73 ' Interest 592,807 6.72 (362,835) (37.97) Total 8,823,473 100.00 328,277 3.86 ' *Amounts above exclude discretely presented Component Unit - Public Library The increase in General Government was $109,601. This increase is due primarily to a $40,000 expenditure for lightning protection for the Village ' Hall and a $27,000 increase in hospitalization. The $389,240 increase (138) in expenses in the Police Department is the result of purchasing squad cars in 1993 -94 and not in 1992 -93 in the ' amount of $124,530 and the filling of positions not filled in 1992 -93 in the amount of $62,000 and an increase in hospitalization of $63,000. ' The increase of $99,474 or 9.38 in Highways and Streets is the result of an increase in Motor Fuel Tax expenditures. The funds are frequently reserved for specific projects and used as required, but because of the nature of the projects, these expenditures are not necessarily even from ' year to year. General Fund Balance. The undesignated fund balance has increased to ' $2,424,768 from $2,169,839 and the Village's designated fund balance has remained at $4,750,000. The designated fund balance represents the Village's continuing intent to fund a large portion of the downtown TIF by advances from the General Fund. At this point,. the Village has advanced ' $1,320,000 and has an additional $3,500,000 designated for this project. In addition, the Village has designated $1,250,000 for future capital expenditures for repairs and maintenance of infrastructures. The Village's undesignated fund balance of $2,424,768 is the equivalent of 147 working ' days of expenditures. Enterprise paerations. The Village's enterprise operations are comprised ' of four separate and distinct activities: the Water Fund, the Sewerage Fund, the Refuse Fund, and the Commuter Parking Lot Fund. The Water Fund operating expenses (before depreciation) were decreased ' by approximately $46,000 due primarily to a decrease in the cost of water ix 1 purchased. The Water Fund had a net income of $56,623. In the Sewerage Fund, the total operating expenses decreased by $19,412, that is $1,250,501 vs. $1,269,913. The fund had a net loss of $175,6581 however, operating income before depreciation was $6,576. The Refuse Fund had a net income of $27,733. Expenses (excluding depreciation) decreased from $1,460,430 to $1,422,1830, a 48 decrease. This was mainly due to successful negotiation of a new contract with the Village's refuse contractor in 1992. Pension Trust Fund Operations. The operations of the Village of Deerfield Police Pension Fund (PERS) remained relatively stable in 1993. For the year ended April 30, 1994, the pension benefit obligation funding level increased to 1118, from 110% the prior year. The actuarial, assumption for investments is 8.58 and for projected salaries is 68. Debt Administration. At April 30, 1994, the Village had a number of debt issues outstanding. These issues includdd- $11,077,515 of net general obligation bonded debt and no revenue bonds. This total excludes a fully defeased $10,000,000 debt issue. The Village issued $9,995,000 of advance refunding bonds, thus saving a total of $812,896 after all costs. The par value savings were $636,107. The debt service savings was about $68,000 for each of the twelve years. The Village continues to be rated AA+ by Moody's Investor's Service. The Village of Deerfield is a home rule municipality and as such has no debt limitations.. If, however, the Village were a non -home rule village its available debt limit would be as follows: Assessed Valuation - 1993 570,794,665 Legal Debt Limit - 8.6258 49,231,057 Legal Debt Margin 38,153,542 Cash Management. Cash temporarily idle during the year was invested in. demand deposits, certificates of deposit, obligations of the U.S. Treasury, and commercial paper. The pension's trust funds investment portfolio also includes insurance company separate accounts and a guaranteed investment contract. The average yield on investments, except for the Trust and Agency fund group, was 4.498. The pension trust fund achieved a yield rate of 10.318 on cash and investments. The higher rate of return on pension fund investments is attributable to the long -term nature of most holdings in its portfolio. The Village's investment performance ranks favorably when compared to average yield rates of 3.4338 for 90 day U.S. Treasury bills and 6.158 for 10 year U.S. Treasury notes. The Village earned interest revenue of $1,186,804 on all investments except the Trust and Agency fund group and $987,515 in the Police Pension Fund. The Village's investment policy is to minimize credit and market risks while maintaining a competitive yield on its portfolio. The Village only utilizes banks and savings institutions which have a Sheshunoff rating of "B" or better. °The Village's investments total $43,506,369. Of these, $31,592,631 are in Category 1. Category 1 includes investments that are insured or registered or for which the securities are held by the government or its agent in the government's name. The remaining $11,913,734, as detailed below, is held in accounts not subject to risk categorization. $9,014,194 is invested in the Illinois Public Treasury Pool, $1,906,270 is in a deferred compensation plan asset account, and the remaining $993,270 is in life insurance company contracts. X 1 ' Acknowledgments. The preparation of the comprehensive annual financial report on a timely basis was made possible by the dedicated service of the entire staff of the finance department. Each member of the department has our sincere appreciation for the contributions made in the preparation ' of this report. In closing, without the leadership and support of the Village Board, preparation of this report would not have been possible. ' pectfully. submitted, t George J. laleritine Finance Director I xi 1 Risk Management. The Village participates in the Municipal Insurance Cooperative Agency, MICA. MICA is a public entity risk pool whose members ' are Illinois municipalities. MICA manages and funds first party property losses, third party liability claims, Workers' Compensation claims, and Public Officials Liability claims of its member municipalities. The Village's payments to MICA are displayed on the financial statements as expenditures /expenses in the appropriate funds. The Village also participates in the Sigh -Level Excess Liability Pool, a public entity risk to provide excess liability coverage ($5,000,000 of coverage after .pool, a $1,000,000 self - insurance retention). The Village's payments to HELP are displayed on the financial statements as expenditures /expenses in appropriate funds. ' OTHER INFORMATION Independent Audit. State statutes require an annual audit by independent certified public accountants. The accounting firm of Crowe Chizek was ' selected by the Village's audit committee. The auditor's report on the general purpose financial statements and combining and individual fund statements and schedules is included in the financial section of this ' report. Awards. The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in ' Financial Reporting to the Village of Deerfield for its comprehensive annual financial report for the fiscal year ended April 30, 1993. 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 a Certificate of Achievement, a governmental unit must publish an easily readable and efficiently organized comprehensive ' annual financial report (CAFR) whose contents conform to program standards. Such CAFR must satisfy both generally accepted accounting principles and applicable legal requirements. ' A Certificate of Achievement is valid for a period of one year only. The Village of Deerfield has received a Certificate of Achievement for the last nine consecutive years. We believe our current report continues to ' conform to the Certificate of Achievement program requirements, and we are submitting it to the GFOA. ' Acknowledgments. The preparation of the comprehensive annual financial report on a timely basis was made possible by the dedicated service of the entire staff of the finance department. Each member of the department has our sincere appreciation for the contributions made in the preparation ' of this report. In closing, without the leadership and support of the Village Board, preparation of this report would not have been possible. ' pectfully. submitted, t George J. laleritine Finance Director I xi 1 CROWS CHIZEK REPORT OF INDEPENDENT AUDITORS ' The Honorable Mayor Members of the Board of Trustees Village of Deerfield, Illinois We have audited the accompanying general purpose financial statements and the combining, individual fund, and account group financial statements of the Village of Deerfield, Illinois, as of and for the year ended April 30, 1994, as listed in the accompanying table of contents. These financial statements are the responsibility of the Village of Deerfield, Illinois' management. Our responsibility is to express an opinion on these financial statements based on our audit. The general purpose financial statements and the combining, individual fund, and account group financial statements of the Village of Deerfield, Illinois, as of and for the year ended April 30, ' 1993, were audited by other auditors whose report dated July 15, 1993, expressed an unqualified opinion on those statements. The general purpose, combining, and account group financial statements for 1993 are not included herein. ' We conducted our audit in accordance with generally accepted auditing standards, "Government Auditing Standards ", issued by the Comptroller General of the United States, and ' the provisions of the Office of Management and Budget Circular A -128, "Audits of State and Local Governments ". Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement ' presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the general purpose financial statements referred to above present fairly, in all ' material respects, the financial position of the Village of Deerfield, Illinois, as of April 30, 1994, and the results of its operations and cash flows of its proprietary fund types for the year then ended in conformity with generally accepted accounting principles. Also, in our opinion, the ' combining, individual fund, and account group financial statements referred to above present fairly, in all material respects, the financial position of each of the individual funds and account groups of the Village of Deerfield, Illinois, as of April 30, 1994, and the results of operations of such funds and cash flows of individual proprietary funds for the year then ended in conformity with generally accepted accounting principles. 1 1 Our audit was made for the purpose of forming an opinion on the general purpose financial statements taken as a whole and on the combining, individual fund, and account group financial statements. The accompanying financial information listed as supplemental and schedules in the accompanying table of contents is presented for purposes of additional analysis and is not a required part of the general purpose financial statements of the Village of Deerfield, Illinois. Such information for 1994 has been subjected to the auditing procedures applied in the audit of the general purpose, combining, individual fund, and account group financial statements and, in our opinion, is fairly presented in all material respects in relation to the general purpose financial statements and each of the combining, individual fund, and account group financial statements taken as a whole. The accompanying financial information for 1993 listed as supplemental and schedules in the accompanying table of contents was subjected to the auditing procedures applied in the audit of the general purpose, combining, individual fund, and account group financial statements and, in the opinion of the predecessor auditor, was fairly presented in all material respects in relation to the general purpose financial statements and each of the combining, individual fund, and account group financial statements taken as a whole. The introductory and statistical information listed in the table of contents was not audited by us and, accordingly, we do not express an opinion thereon. Oak Brook, Illinois July 8, 1994 2 Crowe, Chizek and Company 1 VILLAGE OF DEERFIELD, ILLINOIS All Fund Types and Account Groups Combined Balance Sheet April 30,1994 (See Following Page) VJ ICI °z r.r a Q w w W A W h, 0 O U Lei W Q) b b W a O O u V Q b M O� O� .r w V � � wm� U � 3 i(k$agoo fa 4A- b ° > s�� c� 4A n u ar 0 i tft go u M a, v► co M w o d' $ w � v► o CO .0. , , , , , , , , u aG ~ N, Lr)� y ~ W c$ w N N OD N 4 L .. 4A pNp� , n p0p00p , N lA N O ld tR �� 6 a; Ln Cl cc cc O CM� 6 �cc Z bA3 w- 66�E6�-70$00� a > °� b0000� 000w F u tR ° a��,SdSd 8b a 1 1 1 1 1 1 1 1 n 1 1 1 1 1 1 1 1 1 1 F 6� u a. Is i i .d .b w �Ha w Ua d g� V) OG ownQ �ou•,o, o�QQo 0 zO MM .ti 1A nvNMR,r w jr) � o 00 .. 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O �. rt °. 0 ~p� a f-� WN Ul W O Ch W ,p O�ON HIV W We V �NP�W V 4 iP 00 00 V W�(�,� 1D N V Vl ON CT Vl %0 L1 N C�p�pp �D ONO WOV O (0jl�wa� WO W OWO��UlUg000 ' a0 n rA C:1� > eD �. r O'.t7l 4172 X "A A' F•1 z a g �' i cnO�O�000 ONO O pNp l2 O O 00 111%, Lq G 0 N tc) N� N m gy+ N '�-+ V CT 00 L� L� In Cr O 06� m `ens o �Nn r°, °` °4 o cq 00 00 d� ' �O cNn ccY � n °° 00 ts V (7 o Lf) vQ oN u ci r 8 Q� Lq 00 Cf) C S o ao n Ln M N N N N CO ti O N Q r-+ r G4 g L6 00 \O co cn N N to N 00 i i f� y9 ' Lq Lq n n �n n m r4 L6 T" V r ' CT r- Q 00 M i EA v G u fAII o � v :z ° o�� o a, woo vOi C00 0 0 R ww w �jr� v 5 OD ��- �w �w cu cu @ c>u AaX,:� w v; aGi a, r a O W w O G CQr G O V V ct ,I VILLAGE OF DEERFIELD, ILLINOIS All Proprietary and Fiduciary ' (Pension Trust) Fund Types Combined Statement of Revenues, Expenses, ' and Changes in Retained Earnings - Unreserved/ Fund Balances Year Ended April 30,1994 (with comparative totals for 1993) ' Other changes in retained earnings - Fiduciary unreserved /fund balance -- Proprietary Fund Types -- Fund Type Totals contributed capital Internal Pension - (Memorandum Net increase in retained earnings - Enterprise Service Service Trust 1994 1993 Operating revenues 1,138,945 Retained earnings - unreserved/ Taxes $ - $ - $ 195,933 $ 195,933 $ 180,787 Charges for services 4,375,867 1,264,635 - 5,640,502 5,379,496 Contributions - - 164,883 164,883 160,894 Interest - - 987,515 987,515 789,704 Miscellaneous 68,901 - - 68,901 108,911 Total operating revenues 4,444,768 1,264,635 1,348,331 7,057,734 6,619,792 Operating expenses Administration 528,030 1,005,514 - 1,533,544 1,193,655 Operations 4,398,982 205,047 - 4,604,029 4,717,967 Depreciation 360,657 - - 360,657 384,055 Benefits and refunds - - 294,276 294,276 234,872 Miscellaneous - - 1,189 1,189 2,530 Total operating expenses 5,287,669 1210 61 295,465 6,793,695 6533,079 Operating income (loss) (842,901 54,074 1,052,866 264,039 86,713 Nonoperating revenues Interest income 226,348 8,417 - 234,765 267,049 Income from public entity risk pool - - - - 15,343 Property taxes 723,151 - - 723,151 726,797 949,499 8,417 - 957,916 1,009,189 Income before operating transfers 106,598 62,491 1,052,866 1,221,955 1,095,902 Operating transfers (out) (149,600 - - (149,600) (148,730) Net income (loss) (43,002) 62,491 1,052,866 1,072,355 947,172 Other changes in retained earnings - unreserved /fund balance Depreciation that reduces contributed capital 180,241 - - 180,241 191,773 Net increase in retained earnings - unreserved /fund balances 137,239 62,491 1,052,866 1,252596 1,138,945 Retained earnings - unreserved/ fund balances May 1 5,586,863 (1,203 9,274,684 14,860,344 13,721,399 April 30 $ 5,724,102 $ 61,288 $ 10,327,550 16112 940 $ 14,860,344 See accompanying notes to financial statements. 1 C 1 1 1 1 1 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS All Proprietary Fund Types Combined Statement of Cash Flows Year Ended April 30,1994 (with comparative totals for 1993) Cash flows from operating activities Operating income (loss) Adjustments to reconcile operating income (loss) to net cash provided by operating activities Depreciation Other nonoperating revenues Changes in assets and liabilities Receivables Due from other funds Inventories Accounts payable Accrued payroll Compensated absences payable Claims payable Due to other funds Cash flows from noncapital financing activities Operating transfers (out) Cash flows from capital and related financing activities Fixed assets purchased Cash flows from investing activities Purchase of investment securities Proceeds from sale and maturities of investment securities Interest on investments Net increase in cash and cash equivalents Cash and cash equivalents May 1 April 30 Cash and investments Cash and cash equivalents Investments - Proprietary Fund Types- Totals (4,054,097) Internal - - -- (Memorandum Only)--- - Enterprise Service 1994 1993 $ (842,901) 54,074 (788,827) (807,270) 360,657 - 360,657 384,055 723,151 - 723,151 726,797 23,940 (11) 23,929 20,326 (4,373) - (4,373) (1,161) (10,687) 1,706 (8,981) 513 (38,730) 29,556 (9,174) 22,255 - - - (24,834) 7,793 1,467 9,260 15,372 - 58,381 58,381 112,000 (10,007) 2516 35174 (183,535 208,843 120,006 328,849 264,518 (149,600 - (149,600) (148,730 41106 - (41,106) (21,935) (567,475) (108,328) (675,803) (4,054,097) 1,457,928 68,735 1,526,663 3,752,433 218,938 6,242 225,180 267,049 1,109,391 33 51 1,076,040 (34,615) 1,127,528 86,655 1,214,183 59,238 339,170 61,394 400,564 341,326 1466 698 $ 148,049 $_1,614,747 $__400 564 $ 1,466,698 $ 148,049 $ 1,614,747 $ 400,564 2,837,744 163,335 3,001,079 3,880,283 $ 4,304,442 $ 311,384 4 615 826 4 280 847 Noncash investing, capital, and financing activities The Enterprise Funds received $88,637 in contributed fixed assets during the year. See accompanying notes to financial statements. 7 VILLAGE OF DEERFIELD, ILLINOIS Notes to Financial Statements April 30,1994 NOTE 1- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The financial statements of the Village of Deerfield, Illinois (Government) have been prepared in conformity with generally accepted accounting principles (GAAP) as applied to government units. The Governmental Accounting Standards Board (GASB) is the accepted standard - setting body for establishing governmental accounting and financial reporting principles. The more significant of the Government's accounting policies are described below. Reporting Entity: The Government is a municipal corporation governed by an elected seven - member board. As required by generally accepted accounting principles, these financial statements present the Government (the primary government) and its component units. The component units discussed below are included in the Government's reporting entity because of the significance of their operational or financial relationship with the Government. Blended Component Units: Police Pension Employees Retirement System The Government's police employees participate in the Police Pension Employees Retirement System ( PPERS). PPERS functions for the benefit of these employees and is governed by a five - member pension board. Two members appointed by the Government's President, one elected pension beneficiary, and two elected police employees constitute the pension board. The Government and PPERS participants are obligated to fund all PPERS costs based upon actuarial valuations. The state of Illinois is authorized to establish benefit levels and the Government is authorized to approve the actuarial assumptions used in the determination of contribution levels. Although it possesses many of the characteristics of a legally separate government, the PPERS is reported as if it were part of the primary goverrunent because its sole purpose is to finance and administer the pensions of the Government's police employees and because of the fiduciary nature of such activities. Discrete Component Units: Village of Deerfield Public Library The Deerfield Public Library has a separately elected seven member board which annually determines its budget and resulting tax levy. Upon approval of the Government, the levy is submitted to the County. All debt of the library is secured by the full faith and credit of the Government which is wholly liable for the debt. The library, while servicing the general population of the Government, does not provide services entirely to the Government. Because the library possesses the characteristics of a legally separate government and does not service the primary government, the library is being reported as a discrete presentation. Separate financial statements are disclosed in the component unit portion of this report. (Continued) E 1 VILLAGE OF DEERFIELD, ILLINOIS iNotes to Financial Statements April 30,1994 NOTE 1- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) 'Reporting Entity: : (Continued) joint Ventures: Solid Waste Agency of Lake County ( SWALCO) The Government is a participant with thirty -five other municipalities in a joint venture. SWALCO is a municipal corporation empowered to plan, finance, construct and operate a ' solid waste disposal system to serve its member municipalities. Management consists of a Board of Directors comprised of one appointed representative from each member. The Government does not exercise any control over the activities of the Agency beyond its representation on the Board of Directors. On dissolution of the Agency, the net assets of SWALCO will be shared proportionately by its members. SWALCO is reported as a proprietary joint venture. Additional required disclosures may be found in the ' Commitments, Contingent Liabilities, and joint Ventures notes to financial statements. Fund Accounting: The Government uses funds and account groups to report on its financial position, results of its operations, and cash flows. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain government functions or activities. ' A fund is a separate accounting entity with a self - balancing set of accounts. An account group, on the other hand, is a financial reporting device designed to provide accountability for certain ' assets and liabilities that are not recorded in the funds because they do not directly affect net expendable available financial resources. Funds are classified into the following categories: governmental, proprietary, and fiduciary. Each category, in turn, is divided into separate "fund types ". Governmental funds are used to account for all or most of the Government's general activities, ' including the collection and disbursement of earmarked monies (special revenue funds), the acquisition or construction of general fixed assets (capital projects funds), and the servicing of general long -term debt (debt service funds). The general fund is used to account for all ' activities of the general government not accounted for in some other fund. Proprietary funds are used to account for activities similar to those found in the private sector, ' where the determination of net income is necessary or useful to sound financial administration. Goods or services from such activities can be provided either to outside parties (enterprise funds) or to other departments or agencies primarily within the Government (internal service ' funds). 1 1 (Continued) E VILLAGE OF DEERFIELD, ILLINOIS Notes to Financial Statements April 30,1994 NOTE 1- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Fund Accounting: (Continued) Fiduciary funds are used to account for assets held on behalf of outside parties, including other governments, or on behalf of other funds within the Government. When these assets are held under the terms of a formal trust agreement, either a pension trust fund, a nonexpendable trust fund, or an expendable trust fund is used. The terms "nonexpendable" and "expendable" refer to whether or not the Government is under an obligation to maintain the trust principal. Agency funds generally are used to account for assets that the Government holds on behalf of others as their agent. The general fixed assets account group is used to account for fixed assets not accounted for in proprietary or trust funds. The general long -term debt account group is used to account for general long -term debt and certain other liabilities that are not specific liabilities of proprietary or trust funds. Basis of Accounting: The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. All governmental funds and expendable trust funds are accounted for using a current financial resources measurement focus. With this measurement focus, only current assets and current liabilities generally are included on the balance sheet. Operating statements of these funds present increases (i.e., revenues and other financing sources) and decreases (i.e., expenditures and other financing uses) in net current assets. All proprietary funds and pension trust funds are accounted for on a flow of economic resources measurement focus. With this measurement focus, all assets and all liabilities associated with the operation of these funds are included on the balance sheet. Proprietary fund -type fund equity (i.e., net total assets) is segregated into contributed capital and retained earnings components. Proprietary fund -type operating statements present increases (i.e., revenues) and decreases (i.e., expenses) in net total assets. The modified accrual basis of accounting is used by all governmental fund types, expendable trust funds, and agency funds. Under the modified accrual basis of accounting, revenues are recognized when susceptible to accrual (i.e., when they become both measurable and available). "Measurable" means the amount of the transaction can be determined, and "available" means collectible within the current period. The Government recognizes property taxes when they become both measurable and available in accordance with GASB Codification Section P70. A one -year availability period is used for revenue recognition for all other governmental fund revenues. Expenditures are recorded when the related fund liability is incurred. Principal and interest on general long -term debt are recorded as fund liabilities when due or when amounts have been accumulated in the debt service fund for payments to be made early in the following year. (Continued) 10 VILLAGE OF DEERFIELD, ILLINOIS Notes to Financial Statements April 30,1994 NOTE 1- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) tBasis of Accounting: (Continued) Those revenues susceptible to accrual are property taxes, franchise taxes, licenses, interest revenue, and charges for services. Sales, income, and motor fuel taxes, and fines collected and held by the state at year end on behalf of the Government also are recognized as revenue. Permit revenues are not susceptible to accrual because generally they are not measurable until treceived in cash. The accrual basis of accounting is utilized by proprietary and pension trust funds. Under this method, revenues are recorded when earned, and expenses are recorded at the time liabilities are incurred. The Government reports deferred revenue on its combined balance sheet. Deferred revenues arise when a potential revenue does not meet both the "measurable" and "available" criteria for recognition in the current period. Deferred revenues also arise when resources are received by the Government before it has a legal claim to them, as when grant monies are received prior to the incurrence of qualifying expenditures. In subsequent periods, when both revenue recognition criteria are met, or when the Government has a legal claim to the resources, the liability for deferred revenue is removed from the combined balance sheet and revenue is recognized. Budgets: Budgets are adopted on a basis consistent with generally accepted accounting principles. Annual appropriated budgets are adopted (at the fund level) for the General, Special Revenue (the Lake -Cook Metra Study Fund was budgeted for zero activity), Debt Service (the 1993 Bond Proceeds Fund was budgeted for zero activity), Enterprise, Garage (Internal Service) and Pension Trust funds. The annual appropriated budget is legally enacted and provides for a legal level of control at the fund level. All annual appropriations lapse at fiscal year end. Encumbrances represent commitments related to unperformed contracts for goods or services. Encumbrance accounting - -under which purchase orders, contracts and other commitments for the expenditure of resources are recorded to reserve that portion of the applicable appropriation - -is not utilized in the governmental funds. Material encumbrances outstanding at year end, if any, are reported as reservations of fund balances and do not constitute expenditures or liabilities because the commitments will be honored during the subsequent year. Cash and Investments: ' Cash and Cash Equivalents For purposes of the statement of cash flows, the Government's proprietary fund types consider ' all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. 1 (Continued) 1 11 VILLAGE OF DEERFIELD, ILLINOIS Notes to Financial Statements April 30,1994 NOTE 1- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Cash and Investments: (Continued) Investments Investments are stated at cost or amortized cost, subject to adjustment for market declines judged to be other than temporary (lower of cost or market), except for investments in the deferred compensation agency fund and insurance company separate accounts in the pension trust fund which are reported at market value. Short -term Interfund Receivables / Payables: During the course of operations, numerous transactions occur between individual funds for goods provided or services rendered. These receivables and payables are classified as "due from other funds" or "due to other funds" on the balance sheet. Short -term interfund loans, if any, are classified as "interfund receivables /payables ". Advances to Other Funds: Noncurrent portions of long -term interfund loan receivables are reported as advances and are offset equally by a fund balance reserve account which indicates that they do not constitute expendable available financial resources and, therefore, are not available for appropriation. Inventories: Inventories are valued at cost, which approximates market, using the first -in /first- out (FIFO) method. The costs of governmental fund -type inventories are recorded as expenditures when consumed rather than when purchased. Prepaid Items: Payments made to vendors for services that will benefit periods beyond the date of this report are recorded as prepaid items. Fixed Assets: General fixed assets are not capitalized in the funds used to acquire or construct them. Instead, capital acquisition and construction are reflected as expenditures in governmental funds, and the related assets are reported in the general fixed assets account group. All purchased fixed assets are valued at cost where historical records are available and at an estimated historical cost where no historical records exist. Donated fixed assets are valued at their estimated fair market value on the date received. The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend asset lives are not capitalized. Improvements are capitalized and depreciated over the remaining useful lives of the related fixed assets, as applicable. (Continued) 12 1 1 VILLAGE OF DEERFIELD, ILLINOIS Notes to Financial Statements April 30,1994 NOTE 1- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Fixed Assets: (Continued) ' Public domain ( "infrastructure ") general fixed assets consisting of roads, bridges, curbs and gutters, streets and sidewalks, drainage systems and lighting systems are not capitalized, as these assets are immovable and of value only to the Government. ' Assets in the general fixed assets account group are not depreciated. Depreciation of buildings, equipment, water /sewer systems, and vehicles in the proprietary fund types is computed using the straight -line method. Interest is capitalized on proprietary fund assets acquired with tax - exempt debt. The amount of interest to be capitalized is calculated by offsetting interest expense incurred from the date of the borrowing until completion of the project with interest earned on invested proceeds over the same period. Compensated Absences: Vested or accumulated vacation leave that is expected to be liquidated with expendable available financial resources is reported as an expenditure and a fund liability of the governmental fund that will pay it. Vested or accumulated vacation leave of proprietary funds is recorded as an expense and liability of those funds as the benefits accrue to employees. ' Long -Term Obligations: Long -term debt is recognized as a liability of a governmental fund when due, or when resources have been accumulated in the debt service fund for payment early in the following year. For other long -term obligations, only that portion expected to be financed from expendable available financial resources is reported as a fund liability of a governmental fund. The remaining portion of such obligations is reported in the general long- term debt account group. Long -term liabilities expected to be financed from proprietary fund operations are accounted for in those funds. Fund Equity: Contributed capital is recorded in proprietary funds that have received capital grants or contributions from developers, customers, or other funds. Reserves represent those portions of fund equity not appropriable for expenditure or legally segregated for a specific future use. Designated fund balances represent tentative plans for future use of financial resources. Bond Discounts /Issuance Costs: In governmental fund types, bond discounts and issuance ' costs are recognized in the current period. 1 1 1 (Continued) 13 VILLAGE OF DEERFIELD, ILLINOIS Notes to Financial Statements April 30,1994 NOTE 1- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Interfund Transactions: Quasi - external transactions are accounted for as revenues, expenditures, or expenses. Transactions that constitute reimbursements to a fund for expenditures /expenses initially made from it that are properly applicable to another fund are recorded as expenditures /expenses in the reimbursing fund and as reductions of expenditures/ expenses in the fund that is reimbursed. All other interfund transactions, except quasi- external transactions and reimbursements, are reported as transfers. Nonrecurring or nonroutine permanent transfers of equity are reported as residual equity transfers. All other interfund transfers are reported as operating transfers. Memorandum Only - Total Columns: Total columns on the general purpose financial statements are captioned "memorandum only" to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position or results of operations in conformity with generally accepted accounting principles. Neither are such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data. Comparative Data: Comparative total data for the prior year have been presented in selected sections of the accompanying financial statements in order to provide an understanding of changes in the Government's financial position, operations, and cash flows. NOTE 2 - LEGAL COMPLIANCE AND ACCOUNTABILITY Budgets: All departments of the Government submit requests for appropriation to the Government's manager so that a budget may be prepared. The budget is prepared by fund, and includes information on the past year, current year estimates, and requested appropriations for the next fiscal year. The proposed budget is presented to the governing body for review. The governing body holds public hearings and may add to, subtract from, or change appropriations, but may not change the form of the budget. The budget may only be amended by the governing body. Expenditures may not legally exceed budgeted appropriations at the fund level. During the year, one supplementary appropriation was necessary. (Continued) 14 VILLAGE OF DEERFIELD, ILLINOIS Notes to Financial Statements April 30,1994 NOTE 2 - LEGAL COMPLIANCE AND ACCOUNTABILITY (Continued) Deficit Fund Balances /Retained Earnings of Individual Funds: The following funds had a deficit in fund balance /retained earnings as of the date of this report: Deficit Fund Balance ' Emergency Services/ Disaster $ 8,237 Illinois Municipal Retirement 97,115 Tax Incremental Finance District 2 1,580,836 tGarage 6,178 Excess of Actual Expenditures /Expenses Over Budget in Individual Funds: The following funds had an excess of actual expenditures /expenses (exclusive of depreciation and amortization) over budget for the fiscal year: Fund Excess Street and Bridge $ 5,444 ' Motor Fuel Tax 33,237 Debt Service 7,465 Garage 10,397 NOTE 3 - DEPOSITS AND INVESTMENTS The Government maintains a cash and investment pool that is available for use by all funds, except the pension trust funds. Each fund type's portion of this pool is displayed on the combined balance sheet as "cash and investments ". In addition, investments are separately held by several of the Government's funds. The deposits and investments of the pension trust funds are held separately from those of other funds. The Primary Government and Discretely Presented Component Unit have cash on hand of $1,980 and $600, respectively, which has been excluded from the amounts shown below. Permitted Deposits and Investments: Statutes authorize the Government to make deposits /invest in insured commercial banks, savings and loan institutions, obligations of the U.S. Treasury and U.S. Agencies, insured credit union shares, money market mutual funds with portfolios of securities issued or guaranteed by the United States or agreements to repurchase these same obligations, repurchase agreements, short -term commercial paper rated within the three highest classifications by at least two standard rating services, and the Illinois Public Treasurer's Investment Pool. Pension funds may also invest in certain non -U.S. obligations, Illinois municipal corporations tax anticipation warrants, veteran's loans, obligations of the State of Illinois and its political subdivisions, and Illinois insurance company general and separate accounts. t(Continued) 1 15 VILLAGE OF DEERFIELD, ILLINOIS Notes to Financial Statements April 30,1994 NOTE 3 - DEPOSITS AND INVESTMENTS (Continued) Deposits: At year -end the carrying amount of the Government's deposits totaled $915,312 and the bank balances totaled $1,300,302, and the Discretely Presented Component Unit's carrying amount of deposits totaled $26,498 and the bank balances totaled $26,498. Bank Balances — Discretely Presented Primary Component Government Unit Category 1 Deposits covered by federal depository insurance, or by collateral held by the Government, or its agent, in the Government's name. $ 1,173,095 $ 26,498 Category 2 Deposits covered by collateral held by the pledging financial institution's trust department, or by its agent, in the Government's name. Category 3 Deposits covered by collateral held by the pledging financial institution, or its trust department, or its agent but not in the Government's name, and deposits which are uninsured and uncollateralized. Total Deposits 100,709 $ 1,273,804 26 498 For pension trust funds, the types of deposits authorized and the mix of credit risk categories do not differ significantly from the other funds of the Government. Investments: The Government's investments are categorized to give an indication of the level of risk assumed by the entity at year -end. Category 1 includes investments that are insured or registered or for which the securities are held by the Government or its agent in the Government's name. Category 2 includes uninsured and unregistered investments for which the securities are held by the counterparty's trust department or agent in the Government's name. Category 3 includes uninsured and unregistered investments for which the securities are held by the counterparty, or by its trust department or agent but not in the Government's name, and uninsured, unregistered and uncollateralized investments. (Continued) 1 16 1 1 VILLAGE OF DEERFIELD, ILLINOIS Notes to Financial Statements April 30,1994 NOTE 3 - DEPOSITS AND INVESTMENTS (Continued) Investments: (Continued) ' Carrying Amount Category Market 1 2 3 Totals Value U.S. Government Securities $ 20,570,747 $ - $ - $ 20,570,747 $ 21,566,241 GNMA 556,308 - - 556,308 607,629 Municipal Bonds 465,580 - - 465,580 468,988 ' Dade County Florida Aviation Reserve Bonds 10,000,000 - 10,000,000 10,301,510 ' $ 31,592,635 $ $ 31,592,635 32,944,368 * Deferred Compensation ' Plan Assets * Illinois Public Treasurer's 1,906,270 1,906,270 Investment Pool 81307,786 8,307,786 * Life Insurance Contracts ' and Separate Accounts 993,270 993,270 Total Investments - Primary Government LIZZ99 961 $44,151,694 ' * Illinois Public Treasurer's Investment Pool Discretely Presented Component Unit $ 706,408 706 408 * (Not Subject to Risk Categorization) ' The pension trust funds own 25 percent of the investments in Category 1. ' NOTE 4 - RECEIVABLES -TAXES Property taxes for 1993 attach as an enforceable lien on January 1, 1993, on property values assessed as of the same date. Taxes are levied by December of the subsequent fiscal year (by t, passage of a Tax Levy Ordinance). Tax bills are prepared by the County and issued on or about February 1, 1994, and August 1, 1994, and are payable in two installments, on or about March 1, ' 1994, and September 1, 1994. The County collects such taxes and remits them periodically. 1 I(Continued) 1 17 VILLAGE OF DEERFIELD, ILLINOIS Notes to Financial Statements April 30,1994 NOTE 5 - FIXED ASSETS General Fixed Assets Account Group: The following is a summary of changes in the general fixed assets account group during the fiscal year: Primary Government $ 11,052,601 Discretely Presented Component Unit Balances Additions Retirements April 30 $ - $ - $ 3,522,331 32,368 - 4,905,862 166,656 248,490 760,913 128,628 - 1,942,657 327 652 248 490 $ 11,131,763 Balances Balances May 1 Additions Retirements April 30 Land $ 145,556 $ - $ - $ 145,556 Building and improvements 480,539 280,677 - 761,216 Equipment 420,137 - - 420,137 $ 1,046,232 280,677 $ — $ 1,326,909 Proprietary Fixed Assets: The following is a summary of proprietary fund -type fixed assets as of the date of this report: Enterprise Funds Land Balances Water /Sewer system Mull Land $ 3,522,331 Buildings and improvements 4,873,494 Vehicles 842,747 Equipment 1,814,029 $ 11,052,601 Discretely Presented Component Unit Balances Additions Retirements April 30 $ - $ - $ 3,522,331 32,368 - 4,905,862 166,656 248,490 760,913 128,628 - 1,942,657 327 652 248 490 $ 11,131,763 Balances Balances May 1 Additions Retirements April 30 Land $ 145,556 $ - $ - $ 145,556 Building and improvements 480,539 280,677 - 761,216 Equipment 420,137 - - 420,137 $ 1,046,232 280,677 $ — $ 1,326,909 Proprietary Fixed Assets: The following is a summary of proprietary fund -type fixed assets as of the date of this report: Enterprise Funds Land $ 77,500 Water /Sewer system 13,670,057 Equipment and Vehicles 849,922 Parking Lot Improvements 632,608 15,230,087 Accumulated depreciation (7,514,710) $ 7,715,377 (Continued) IM VILLAGE OF DEERFIELD, ILLINOIS ! Notes to Financial Statements April 30, 1994 ! NOTE 5 - FIXED ASSETS (Continued) ! Proprietary Fixed Assets (Continued) In proprietary funds, the following estimated useful lives are used to compute depredation: The Government has established an Insurance Fund (an internal service fund). The Government is self- insured for medical coverage. Each participating fund makes payments to the Insurance Fund. Such payments are displayed on the financial statement as revenues expenditures /expenses (quasi - external transfers). ! Municipal Insurance Cooperative Agency (MICA) The Government participates in the Municipal Insurance Cooperative Agency (MICA). MICA ! is a public entity risk pool established by certain units of local government in Illinois to administer some or all of the general liability insurance programs of these members. ' The Agency manages and funds first party property losses, third party liability claims, workers' compensation claims, and public officials' liability claims of its members. ' (Continued) 19 Water /Sewer system 50 - 60 years Equipment 10 - 20 years Vehicles 4 - 5 years Parking Lot Improvements 20 years ! Construction Contracts: The Government has entered into contracts for the construction or renovation of various facilities as follows: ! Required Project Expended Further ! Authorization To Date Commitment Financing Phase III Streetscape $ 895,295 $ 834,440 $ 60,855 - ' Osterman Avenue Improvements 1,346,614 - 1,346,614 - Deerfield Road Rehabilitation Project 62,000 - 62,000 - NOTE 6 - RISK MANAGEMENT The Government has established an Insurance Fund (an internal service fund). The Government is self- insured for medical coverage. Each participating fund makes payments to the Insurance Fund. Such payments are displayed on the financial statement as revenues expenditures /expenses (quasi - external transfers). ! Municipal Insurance Cooperative Agency (MICA) The Government participates in the Municipal Insurance Cooperative Agency (MICA). MICA ! is a public entity risk pool established by certain units of local government in Illinois to administer some or all of the general liability insurance programs of these members. ' The Agency manages and funds first party property losses, third party liability claims, workers' compensation claims, and public officials' liability claims of its members. ' (Continued) 19 VILLAGE OF DEERFIELD, ILLINOIS Notes to Financial Statements April 30,1994 NOTE 6 - RISK MANAGEMENT (Continued) Municipal Insurance Cooperative Agency (MICA) (Continued) Management consists of a Board of Directors comprised of one appointed representative from each member. In addition, there are two officers: a Benefit Administrator and a Treasurer. The Government does not exercise any control over the activities of the Agency beyond its representation on the Board of Directors. For the year ended April 30, 1993, MICA had a total equity of $1,476,528 and revenues over expenses of $785,892. The Government's total payments for the year ended April 30, 1994 were $306,098. High -Level Excess Liability Pool (HELP) The Government participates in the High -Level Excess Liability Pool (HELP). HELP is a public entity risk pool established by certain municipalities in Illinois to provide excess liability coverage ($5,000,000 of coverage after a $1,000,000 self - insurance retention). The Government's payments to HELP are displayed on the financial statements as expenditures /expenses in appropriate funds. The purpose of HELP is to act as a joint self- insurance pool for the purpose of seeking the prevention or lessening of liability claims for injuries to persons or property or claims for errors and omissions made against the Members and other parties included within the scope of coverage of HELP. HELP is governed by a Board of Directors which consists of one appointed representative from each member municipality. Each Director has an equal vote. The officers of HELP are appointed by the Board of Directors. The Board of Directors determines the general policy of HELP, makes all appropriations, approves contracts, adopts resolutions providing for the issuance of debt by HELP, adopts by -laws, rules and regulations, and exercises such powers and performs such duties as may be prescribed in the HELP Agreement or the by -laws. The Government does not exercise any control over the activities of HELP beyond its representation on the Board of Directors. (Continued) 20 1 1 1 1 1 1 I 1 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS Notes to Financial Statements April 30,1994 NOTE 6 - RISK MANAGEMENT (Continued) High -Level Excess Liability Pool (HELP) (Continued) At April 30, 1993, the total equity of HELP was $6,539,192, of which the Government's share was $236,065. For the year ended April 30,1993, the net income of HELP was $1,109,329, of which the Government's share was $40,590. The Government made payments totaling $36,494 to HELP during the year ended April 30,1994. NOTE 7 - LEASE OBLIGATIONS No material capital or operating leases were in effect as of the date of this report. NOTE 8 - LONG -TERM DEBT General Obligation Bonds: The Government issues general obligation bonds for the acquisition and construction of major capital facilities. General obligation bonds are direct obligations and pledge the full faith and credit of the Government. General obligation bonds currently outstanding are as follows: Issue Corporate Purpose Bond Series of 1982; ($500,000 dated October 1, 1982; maturing December 1, 1994; payable in annual installments; interest rates from 4.4% to 6.0 %) Corporate Purpose Bond Series of 1982 -A; ($500,000 dated December 1, 1982; maturing December 1, 1993; payable in annual installments; interest rates from 7.0% to 8.5 %) Corporate Purpose Bond Series of 1986; ($11,000,000 dated May 1, 1986; maturing January 1, 2005; payable in annual installments; interest rates from 6.40% to 7.75°/x) Fund Debt Balances Balances Retired By May 1 Additions Reductions April 30 * *Debt Service $ 150,000 $ - $ 75,000 $ 75,000 Debt Service 50,000 - Debt Service 8,960,000 - (Continued) 21 50,000 - 7,355,0001 1,605,000 VILLAGE OF DEERFIELD, ILLINOIS Notes to Financial Statements April 30,1994 NOTE 8 - LONG -TERM DEBT (Continued General Obligation Bonds: (Continued) Fund Debt Issue Retired By Corporate Purpose Bond Series of 1987; ($10,000,000 dated October 8, -Expend- 1987; maturing October 8, 2002; able interest rates from 8.4% to 8.5 %) Trust General Obligation Bond Series of 1988; ($3,000,000 dated November 1, 1988; maturing January 1, 2004; payable in annual installments; interest rates from Debt 6.71/6 to 8.0 %) Service General Obligation Bond Series of 1991; ($1,500,000 dated July 1,1991; maturing January 1,1997; payable in annual installments; interest rates * *Debt from 5.2% to 5.8 %) Service General Obligation Refunding Bond Series of 1993; ($9,995,000 dated May 1, 1993; maturing December 15, 2004; payable in annual installments; interest rates Debt Balances Balances May 1 Additions Reductions April 30 10,000,000 - - 10,000,000 2,475,000 - 2,125,0002 350,000 1,200,000 - 300,000 900,000 from 3.9% to 4.10 %) Service - 9,995,000 280,000 9,715,000 22 835 000 L22L5,000 $ 10,185,000 22 645 000 * These bonds were issued in Fiscal 1988 with the proceeds used to purchase $10,000,000 of Dade County Florida Aviation Revenue Bonds. These bonds are carried as an investment in the Expendable Trust Fund with the interest on these bonds paying the interest on the G.O. bonds. ** The Government abates the tax levy on these bond issues annually. The debt is being retired for the Corporate Purpose Bond Series of 1982 by transfers from the Tax Incremental Finance District 1 Fund and retired for the General Obligation Bond Series of 1991 by transfers from the Tax Incremental Finance District 2 Fund. 1 Includes advance refunding of $6,840,000 2 Includes advance refunding of $1,975,000 (Continued) 22 1 1 VILLAGE OF DEERFIELD, ILLINOIS Notes to Financial Statements April 30, 1994 NOTE 8 - LONG -TERM DEBT (Continued) Debt Service Requirements to Maturity: Annual debt service requirements to maturity are as follows: 1 1 1 1 1 1 1 1 Total Principal and Interest $ 16,577,500 $ 15,843,278 $ 32,420,778 Interest Portion $ 6,577,500 $ 3,198,278 $ 9,775,778 Changes in Long -Term Liabilities: During the fiscal year the following changes occurred in liabilities reported in the general long -term debt account group: Corporate Purpose Bond Series of 1982 Corporate Purpose Bond Series of 1982 -A Corporate Purpose Bond Series of 1986 Corporate Purpose Bond Series of 1988 General Obligation Bond Series of 1991 General Obligation Refunding Bond Series of 1993 Balances Balances May 1 Additions Reductions April 30 Fiscal - - - -- General Obligation Bonds $ 75,000 50,000 - Year - General 7,355,000 ' Ending Expendable Long -Term 1,200,000 - 300,000 April 30 Trust Debt Totals 1995 $ 843,000 $ 1,815,964 $ 2,658,964 1996 843,000 1,701,630 2,544,630 1997 843,000 1,684,764 2,527,764 ' 1998 843,000 1,367,155 2,210,155 1999 843,000 1,376,155 2,219,155 2000 843,000 1,363,105 2,206,105 ' 2001 8431000 1,368,825 2,211,825 2002 7,549,000 1,377,495 8,926,495 2003 3,127,500 1,383,910 4,511,410 2004 - 1,358,070 1,358,070 ' 2005 1,046,205 1,046,205 1 1 1 1 1 1 1 1 Total Principal and Interest $ 16,577,500 $ 15,843,278 $ 32,420,778 Interest Portion $ 6,577,500 $ 3,198,278 $ 9,775,778 Changes in Long -Term Liabilities: During the fiscal year the following changes occurred in liabilities reported in the general long -term debt account group: Corporate Purpose Bond Series of 1982 Corporate Purpose Bond Series of 1982 -A Corporate Purpose Bond Series of 1986 Corporate Purpose Bond Series of 1988 General Obligation Bond Series of 1991 General Obligation Refunding Bond Series of 1993 Balances Balances May 1 Additions Reductions April 30 $ 150,000 $ - $ 75,000 $ 75,000 50,000 - 50,000 - 8,960,000 - 7,355,000 1,605,000 2,475,000 - 2,125,000 350,000 1,200,000 - 300,000 900,000 9,995,000 280,000 9,715,000 $ 12,835,000 $ 9,995,000 $10,185,000 $ 12,645,000 (Continued) 23 VILLAGE OF DEERFIELD, ILLINOIS Notes to Financial Statements April 30,1994 NOTE 8 - LONG -TERM DEBT (Continued) Legal Debt Margin: The Government is a home rule municipality. Chapter 65, Section 5/8 -5 -1 of the Illinois Compiled Statutes governs computation of the legal debt margin. "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 500,000 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 amounts." To date the General Assembly has set no limits for home rule municipalities. Advance Refunding- General Long -Term Debt: On May 1, 1993, the Government issued $9,995,000 in general obligation bonds with an average interest rate of 4.04% to advance refund $6,840,000 Corporate Purpose Bonds Series 1986 due January 1, 1997 through 2005, inclusive, with an average interest rate of 6.72 %, and $1,975,000 Corporate Purpose Bonds Series 1988 due January 1, 1997 through 2004, inclusive, with an average interest rate of 6.81%. The net proceeds of $9,832,391 (after payment of $69,779 in underwriting fees, insurance and other issuance costs) were used to purchase U.S. government securities. Those securities were deposited in an irrevocable trust with American National Bank and Trust Company, Chicago, to provide for all future debt service payments of the refunded bonds. As a result, the refunded bonds are considered to be defeased and the liability for those bonds have been removed from the general long -term debt account group. The Government advance refunded the callable portion of the Corporate Purpose Series 1986 and 1988 bonds to reduce its total debt service over the next 12 years by $812,896 and to obtain an economic gain (difference between the present values of the debt service payments on the old and new debt) of $636,107. This economic gain represents 6.364% of the principal amount of the refunding bonds and 7.216% of the principal amount of the refunded bonds. Noncommitment Debt - Industrial Development Revenue Bonds: The Government qualifies as a Home Rule Unit under Section 6(a) of Article VII of the 1970 Constitution of Illinois and, under the powers granted by this section, can exercise any power and perform any function pertaining to its government and affairs which is not prohibited by the Illinois Compiled Statutes. (Continued) 24 VILLAGE OF DEERFIELD, ILLINOIS Notes to Financial Statements April 30,1994 NOTE 8 - LONG -TERM DEBT (Continued) Noncommitment Debt - Industrial Development Revenue Bonds: (Continued) The issuance of Industrial Development Revenue Bonds by the Government is to finance in whole or in part the cost of the acquisition, purchase, construction, reconstruction, improvement, equipping, betterment or extension of any economic development project in order to encourage economic development within or near the Government. Industrial Development Revenue Bonds are not a debt of the Government. The entity using the ' bond proceeds to finance a construction or improvement project is liable for the bonds. Since the Government does not act as an agent for Industrial Development Revenue Bonds, the transactions relating to the bonds and property do not appear in the Government's financial ' statements. The Government has authorized the issuance of the following such bonds: Date Issued Type of Bond Amount Debtor 12/20/82 Industrial Revenue $ 1,615,000 Chi -Chi's Inc. ' 4/16/84 Industrial Revenue 1,000,000 Teradyne, Inc. 12/17/84 Industrial Revenue 4,500,000 Industrialplex Limited Partnership NOTE 9 - INTERFUND ASSETS/LIABILITIES ' Due From/To Other Funds: 1 Street and Bridge 2,318 Police Pension 2,698 (Continued) 25 5,924 Receivable Fund Payable Fund Amount General Emergency Services/ Disaster $ 7, 181 Tax Increment Finance District #2 255,513 ' Garage 24,546 Deposit 1,415 Deerfield Cemetery Association 8,740 ' 297,395 Emergency Services/ Disaster Street and Bridge 5 Debt Service Municipal Audit 22 Illinois Municipal Retirement 886 1 Street and Bridge 2,318 Police Pension 2,698 (Continued) 25 5,924 VILLAGE OF DEERFIELD, ILLINOIS Notes to Financial Statements April 30,1994 NOTE 9 - INTERFUND ASSETS/LIABILITIES Due From/To Other Funds: (Continued) Receivable Fund Payable Fund Refuse Municipal Audit Emergency Services/ Disaster Advances From/To Other Funds: Receivable Fund General Payable Fund Tax Increment Finance District #2 Due From/To Primary Government and Component Unit: Receivable Entity Payable Entity Primary Government - Component unit - Illinois Municipal Retirement Public Library Primary Government - Component unit - Debt Service Public Library Primary Government - Component unit - Refuse Public Library Component unit - Primary Government - Public Library Street and Bridge Police Pension (Continued) 26 Amount $ 1,814 $ 305,446 Amount $ 1,320,000 Amount $ 45 1,227 3,413 4,685 7,477 213 7,690 $ 12,375 VILLAGE OF DEERFIELD, ILLINOIS Notes to Financial Statements April 30,1994 NOTE 10 - COMMITMENTS ' High -Level Excess Liability Pool (HELP): The Government has committed to P urchase excess liability insurance from the High -Level Excess Liability Pool (Agency), a joint venture of Illinois municipalities. The Government expects to pay the following minimum amounts (these amounts represent the Government's share of the principal and interest - "fixed costs" - of the Agency): Fiscal Year Ending April 30 Amount 1995 $ 25,744 ' 1996 26,258 1997 25,731 1998 26,024 ' These amounts have been calculated using the Government's current allocation percentage of 3.61 %. In future years, this allocation percentage will be subject to change because the Agency's ' Agreement provides that each year members will be assessed based upon a formula which specifies the following four criteria for allocating premium costs: Miles of streets Full-time equivalent employees Number of motor vehicles Operating revenues Solid Waste Agency of Lake County (SWALCO): The Government has committed to pay its share of the annual operating costs and fixed costs of the SWALCO. The Government's share of r dual costs is expected to be funded through tipping fees paid by refuse haulers. The Government expects to be delivering refuse to the Agency beginning May of 1995. Cost projection amounts are not yet available for 1995. The Agency has entered into Solid Waste Disposal Contracts with member municipalities. The Contracts are irrevocable and may not be terminated or amended except as provided in the ' Contract. Each member is obligated, on a "take or pay" basis, to purchase or in any event to pay for a minimum annual cost of the system. ' The obligation of the Government to make all payments as required by this Contract is unconditional and irrevocable, without regard to performance or nonperformance by the Agency of its obligations under this Contract. r 1 (Continued) ' 27 VILLAGE OF DEERFIELD, ILLINOIS Notes to Financial Statements April 30,1994 NOTE 11- SEGMENT INFORMATION - ENTERPRISE FUNDS The Government maintains the following enterprise funds which are intended to be self - supporting through user fees charged for services to the public. Financial segment information as of the date of this report and for the fiscal year is as follows: (Continued) 28 Commuter Water Sewerage Refuse Parking Lot Totals Operating revenues $ 2,277,803 $ 1,257,077 $ 735,252 $ 174,636 $ 4,444,768 Depreciation and amortization expense 89,782 239,245 - 31,630 360,657 Operating income (loss) (14,940) (232,669) (686,931) 91,639 (842,901) Operating grants, entitlements, and shared revenues - - - - - Operating transfers in - - - - - Operating transfers out (36,500) (20,000) (13,100) (80,000) (149,600) Tax revenues - - 723,151 - 723,151 Net income (loss) 56,623 (175,658) 27,733 48,300 (43,002) Current capital contributions 71,129 17,508 - - 88,637 Current capital transfers - - - - - Plant, property, and equipment Additions 71,129 45,814 - 12,800 129,743 Deletions 57,807 15,925 - - 53,732 Total assets 5,161,157 7,034,279 819,886 794,885 13,810,207 Net working capital 2,773,979 1,610,051 710,724 543,060 5,637,814 Bonds and other long -term liabilities Payable from operating - - - - - revenues Payable from other sources - - - - - Total equity 4,968,050 6,880,614 710,724 793,803 13,353,191 (Continued) 28 VILLAGE OF DEERFIELD, ILLINOIS Notes to Financial Statements April 30,1994 NOTE 12. CONTRIBUTED CAPITAL ' During the fiscal year contributed capital increased/ decreased by the following amounts: Commuter Water Sewerage Parkinglot Totals Increases $ 71,129 $ 17,508 $ - $ 88,637 ' Decreases - depreciation 39,720 124,551 15,970 180,241 Net increase (decrease) 31,409 (107,043) (15,970) (91,604) ' Contributed capital May 1 1,740,473 5,724,553 255,667 7,720,693 April 30 $ 1,771,882 $ 5,617,510 $ 239,697 $ 7,629,089 NOTE 13 - FUND EQUITY Tax Incremental Finance District 1 Fund - Surplus Rebate On December 20, 1993, the Government passed Resolution No. 93 -11 titled "Resolution Declaring a Surplus of Tax Increment Financing Funds" in accordance with the Illinois Compiled Statutes. The Government determined that the sum of $5,859,179 held in the Tax ' Incremental Finance District 1 Fund was surplus funds and should be redistributed to the appropriate taxing districts in fiscal 1994. On December 21, 1992, the Government passed Resolution No. 92,13 titled "Resolution Declaring a Surplus of Tax Increment Financing Funds" in accordance with the Illinois Compiled Statutes. The Government determined that the sum of $5,463,435 held in Tax Incremental Finance District 1 Fund was surplus funds and should be redistributed to the appropriate taxing districts in fiscal 1993. ' NOTE 14 - CONTINGENT LIABILITIES Litigation: The Government is a defendant in various lawsuits. Although the outcome of these lawsuits is not presently determinable, in the opinion of the Government's attorney, the ' resolution of these matters will not have a material adverse effect on the financial condition of the Government. Grants: Amounts received or receivable from grantor agencies are subject to audit and adjustment by grantor agencies, principally the federal government. Any disallowed claims, including amounts already collected, may constitute a liability of the applicable funds. The amount, if any, of expenditures which may be disallowed by the grantor cannot be determined at this time although the Government expects such amounts, if any, to be immaterial. (Continued) 29 VILLAGE OF DEERFIELD, ILLINOIS Notes to Financial Statements April 30,1994 NOTE 14 - CONTINGENT LIABILITIES (Continued) High -Level Excess Liability Pool (HELP): The Government's agreement with the High -Level Excess Liability Pool provides that each member is liable for its proportionate share of any costs arising from defaults in payment obligations by other members. Solid Waste Agency of Lake County (SWALCO): The Government's contract with the Solid Waste Agency of Lake County provides that each member is liable for its proportionate share of any costs arising from defaults in payment obligations by other members. NOTE 15 - JOINT VENTURES Solid Waste Agency of Lake County (SWALCO): Description of Joint Venture The Government is a member of the Solid Waste Agency of Lake County (the "Agency ") which consists of thirty -five municipalities. The Agency is a municipal corporation and public body politic and corporate established pursuant to the Constitution of the State of Illinois and the Intergovernmental Cooperation Act of the State of Illinois, as amended, (the "Act "). The Agency is empowered under the Act to plan, construct, finance, operate and maintain a solid waste disposal system to serve its members. The members of the Agency and their percentage shares based on formulae contained in the Agency agreement as of April 30,1993 are: These percentage shares are subject to change in future years based on the combination of the population and equalized assessed valuation of the municipalities. (Continued) 30 % Share % Share % Share Antioch 1.06% Lake County 19.88% Riverwoods .94 Beach Park 1.65 Lake Forest 6.13 Round Lake .61 Deer Park .74 Lake Villa .55 Round Lake Beach 2.55 Deerfield 4.25 Lake Zurich 3.21 Round Lake Park .64 Grayslake 1.46 Libertyville 4.38 Third Lake .24 Green Oaks .47 Lincolnshire 1.74 Vernon Hills 3.36 Gurnee 3.11 Lindenhurst 1.45 Wadsworth .39 Hawthorn Woods 1.07 Long Grove 1.42 Wauconda 1.31 Highland Park 8.03 Mundelein 4.12 Waukegan 12.15 Kildeer .67 North Barrington .66 Winthrop Harbor 1.08 Lake Barrington 1.16 North Chicago 3.13 Zion 3.92 Lake Bluff 1.61 Park City .86 100.00% These percentage shares are subject to change in future years based on the combination of the population and equalized assessed valuation of the municipalities. (Continued) 30 1 1 1 1 1 1 1 1 1 1 1 1 1 fl VILLAGE OF DEERFIELD, ILLINOIS Notes to Financial Statements April 30,1994 NOTE 15 - JOINT VENTURES (Continued) Solid Waste Agency of Lake County (SWALCO): (Continued) Description of Joint Venture The members form a contiguous geographic service area which is located in Lake County. Under the Agency Agreement, additional members may join the Agency upon the approval of each member. The Agency is governed by a Board of Directors which consists of one appointed Mayor or President, Trustee, or Chief Administrative Officer from each member municipality. Each Director has an equal vote. The officers of the Agency are appointed by the Board of Directors. The Board of Directors determines the general policy of the Agency, makes all appropriations, approves contracts, adopts resolutions providing for the issuance of Bonds or Notes by the Agency, adopts by -laws, rules and regulations, and exercises such powers and performs such duties as may be prescribed in the Agency Agreement or the by -laws. Summary of Financial Information of Joint Venture Summary of Financial Position as of April 30,1993: Assets Liabilities and Fund Equity Current assets Current liabilities Cash $ 84,359 Accounts payable $ 139,535 Receivables and Accrued payroll and other 86,150 payroll taxes 15,140 170,509 154,675 Fund equity Investment in general Fixed assets 21,885 fixed assets 21,885 Fund balance - unreserved 15,834 37,719 Total liabilities Total assets $ 192,394 and fund equity $ 192,394 (Continued) 31 VILLAGE OF DEERFIELD, ILLINOIS Notes to Financial Statements April 30, 1994 NOTE 15 - JOINT VENTURES (Continued) Solid Waste Agency of Lake County (SWALCO): (Continued) Summary of Financial Information of Joint Venture (Continued) Summary of Revenues, Expenses, and Changes in Retained Earnings for the year ended April 30,1993: Total Revenues $ 494,948 Total Expenses 678,064 Net (loss) (183,116) Fund balance May 1 198,950 April 30 15,834 Complete financial statements can be obtained from the Solid Waste Agency of Lake County, 1300 N. Skokie Highway, Suite 103, Gurnee, IL 60031. The Government made no payments to the Agency for the year ended April 30,1994. NOTE 16 - DEFERRED COMPENSATION PLAN The Government offers its employees a deferred compensation plan created in accordance with Internal Revenue Code Section 457. The plan, available to all Government employees, permits them to defer a portion of their salary until future years. Participation in the plan is optional. The deferred compensation is not available to employees until termination, retirement, death or unforeseeable emergency. All amounts of compensation deferred under the plan, all property and rights purchased with those amounts, and all income attributable to those amounts, property, or rights are (until paid or made available to the employee or other beneficiary) solely the property and rights of the Government subject only to the claims of the Government's general creditors. Participants' rights under the plan are equal to those of general creditors of the Government in an amount equal to the fair market value of the deferred account for each participant. It is the opinion of the Government's legal counsel that the Government has no liability for losses under the plan but does have the duty of due care that would be required of an ordinary prudent investor. The Government believes that it is unlikely that it will use the assets to satisfy the claims of general creditors in the future. (Continued) I 32 1 1 1 ii 1 1 1 1 n 1 1 1 1 1 1 1 fl 1 VILLAGE OF DEERFIELD, ILLINOIS Notes to Financial Statements April 30,1994 NOTE 17 - POSTEMPLOYMENT BENEFITS In addition to providing pension benefits described, the Government provides postemployment health care benefits, in accordance with the personnel policy manual, to all employees who have worked for the Government for a minimum of ten years and receive a pension from the Government in the Illinois Municipal Retirement Fund or Police Pension Fund. The cost:of retiree health care benefits is recognized as an expenditure as insurance premiums are paid. For the fiscal year, those costs total $2,310. The Government pays 25 percent of the cost of the health insurance premiums for the retirees to a maximum of $35. Accordingly, no liability has been recorded for post - retirement health care benefits. NOTE 18 - EMPLOYEE RETIREMENT SYSTEMS Plan Descriptions and Provisions: Illinois Municipal Retirement The Government contributes to the Illinois Municipal Retirement Fund ( "IMRF "), a defined benefit agent multiple - employer public employee retirement system, that acts as a common investment and administrative agent for local governments and school districts in Illinois. The Government's total payroll for the year ended April 30,1993, was $5,342,438. Of this amount, $3,349,867 in payroll earnings were reported to and covered by the IMRF system. All employees hired in positions that meet or exceed the prescribed annual hourly standard must be enrolled in IMRF as participating members. Pension benefits vest after eight years of service. Participating members who retire at or after age 60 with 8 years of service are entitled to an annual retirement benefit, payable monthly for life, in an amount equal to 1 -2/3 percent of their final rate (average of the highest 48 consecutive months' earnings during the last 10 years) of earnings, for each year of credited service up to 15 years, and 2 percent for each year thereafter. IMRF also provides death and disability benefits. These benefit provisions and all other requirements are established by Illinois Compiled Statutes. Participating members are required to contribute 4.5 percent of their annual salary to IMRF. The Government is required to contribute the remaining amounts necessary to fund the coverage of its own employees in the System, using the actuarial basis specified by state statute (entry age normal); for 1993, the rate was 11.52 percent. (Continued) 33 VILLAGE OF DEERFIELD, ILLINOIS Notes to Financial Statements April 30,1994 NOTE 18 - EMPLOYEE RETIREMENT SYSTEMS (Continued) Plan Descriptions and Provisions: (Continued) Police Pension 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 contributions levels are governed by Illinois Compiled Statutes (Chapter 40 - Article 5/3) and may be amended only by the Illinois legislature. The Government accounts for the plan as a pension trust fund. The Government's payroll for employees covered by the Police Pension Plan for the year ended April 30, 1994 was $1,832,033 out of a total payroll of $5,524,352. At April 30, 1994, the Police Pension Plan membership consisted of: Retirees and beneficiaries currently receiving benefits and terminated employees entitled to benefits but not yet receiving them 11 Current employees Vested ] Nonvested ] 38 Total 49 The following is a summary of the Police Pension Plan as provided for in Illinois Compiled Statutes. The Police Pension Plan provides retirement benefits as well as death and disability benefits. 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 held 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% of such salary for each additional year of service over 20 years up to 30 years, and 1% of such salary for each additional year of service over 30 years, to a maximum of 75% of such salary. 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 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 be paid upon reaching the age of at least 55 years, by 3% of the original pension and 3% simple interest annually thereafter. (Continued) 34 VILLAGE OF DEERFIELD, ILLINOIS ' Notes to Financial Statements April 30,1994 NOTE 18 - EMPLOYEE RETIREMENT SYSTEMS (Continued) Plan Descriptions and Provisions: (Continued) ' Police Pension (Continued) Covered employees are required to contribute 9% 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 Government is required to contribute the remaining amounts necessary to finance the plan as actuarially ' determined by an enrolled actuary. Effective July 1, 1993, the Government's contributions must accumulate to the point where the past service cost for the Police Pension Plan is fully funded by the year 2033. ' Summary of Significant Accounting Policies and Plan Asset Matters: 1 Basis of Accounting - The financial statements are prepared using the accrual basis of accounting. Employee and employer contributions are recognized as revenues in the period in which employee services are performed. Method Used to Value Investments - Fixed - income securities are reported at amortized cost with discounts or premiums amortized using the effective interest rate method, subject to adjustment for market declines judged to be other than temporary (lower of cost or market). Investment income is recognized as earned. Gains and losses on sales and exchanges of fixed - income securities are recognized on the transaction date. Equity securities are reported at cost subject to adjustment for market declines judged to be other than temporary (lower of cost or market). ' Significant Investments - There are no investments (other than U.S. government and U.S. government - guaranteed obligations) in any one organization that represent 5 percent or more of net assets available for benefits. Related Party Transactions - There were no securities of the employer or any other related parties included in plan assets, including any loans. 1 I�I1 E (Continued) 35 VILLAGE OF DEERFIELD, ILLINOIS Notes to Financial Statements April 30,1994 NOTE 18 - EMPLOYEE RETIREMENT SYSTEMS (Continued) Plan Descriptions and Provisions: (Continued) Police Pension (Continued) Funding Status and Progress: The amount shown below as the "pension benefit obligation" is a standardized disclosure measure of the present value of pension benefits, adjusted for the effects of projected salary increases and step -rate benefits, estimated to be payable in the future as a result of employee service to date. The measure is intended to help users assess the funding status of the system on a going- concern basis, assess progress made in accumulating sufficient assets to pay benefits when due, and make comparisons among employers. The measure is the actuarial present value of credited projected benefits and is independent of the funding method used to determine contributions to the Systems. Actuarial valuation date Significant actuarial assumptions a) Rate of return on investment of present and future assets b) Projected salary increases - attributable to inflation c) Additional projected salary increases - attributable to seniority/merit d) Post - retirement benefit increases (Continued) 36 Illinois Municipal Police Retirement Pension December 31, April 30, 1993 1994 7.50% 8.50% compounded compounded annually annually 4.25% ] 6.0% compounded ] compounded annually ] annually l ] (Note - separate ] information on ] for b) and c) 1.00% ] not available) 3.00% 3.00% compounded annually 1 VILLAGE OF DEERFIELD, ILLINOIS Notes to Financial Statements April 30,1994 NOTE 18 - EMPLOYEE RETIREMENT SYSTEMS (Continued) Funding Status and Progress: (Continued) Illinois Totals Municipal Police (Memorandum Retirement Pension ' Pension benefit obligation Retirees and beneficiaries currently receiving benefits and terminated (Note) employees not yet receiving benefits $ 181,794 $ 4,265,772 $ 4,447,566 Current employees Accumulated employee contributions including allocated investment earnings 1,760,626 1,276,137 3,036,763 Employer - financed vested 3,910,293 3,610,737 7,521,030 Employer - financed nonvested 378,685 104,983 483,668 1 Total pension benefit obligation 6,231,398 9,257,629 15,489,027 Net assets available for benefits, ' at lower of cost or market 4,437,725 10,327,550 14,765,275 (Market values) (IMRF $ 4,960,177) (Police - 10,581,257) t(Totals - $ 15,541,434) Unfunded (assets in excess of) pension benefit obligation $ 1,793,673 $ (1,069,921) $ 723,752 (Note) The pension benefit obligation applicable to retirees and beneficiaries currently receiving benefits is not included in the above schedule due to the fact that this obligation was transferred from the Government to IMRF as a whole when the annuity became payable. Effects on the Pension Benefit Obligation of Current -Year Changes Illinois Municipal Retirement: Current -year changes in the actuarial assumptions, benefit provisions and methodology are reflected in the pension benefit obligation shown above. This amount has been calculated by the System's actuary using the measure described above. The dollar effect of these changes on the pension benefit obligation was not economically ' determinable on an individual employer basis by IMRF. Police Pension: There were no current -year changes in the actuarial assumptions or benefit provisions. (Continued) 1 37 VILLAGE OF DEERFIELD, ILLINOIS Notes to Financial Statements April 30,1994 NOTE 18 - EMPLOYEE RETIREMENT SYSTEMS (Continued) Contributions Required and Contributions Made: Illinois Municipal Retirement and Police Pension The Systems' funding policy provide for actuarially determined periodic contributions at rates that, for individual employees, accumulate assets gradually over time so that sufficient assets will be available to pay benefits when due. The rate for the Government's employee group as a whole has tended to remain level as a percentage of annual covered payroll. The contributions rate for normal cost is determined using the entry age normal actuarial funding method. The IMRF and Police Pension Systems used the level percentage of payroll method to amortize the unfunded liability over a 40 year period. The significant actuarial assumptions used to compute the actuarially determined contribution requirements are the same as those used to compute the pension benefit obligation as described above. Actuarial valuation date Actuarially determined contribution requirement As a dollar amount Employer Normal cost Amortization of unfunded actuarial accrued liability Death and disability cost Supplemental retirement benefit Employee - normal cost Illinois Totals Municipal Police (Memorandum Retirement Pension QnW December 31, May 1, 1993 1994 $ 235,832 $ 143,281 $ 379,113 114,230 26,724 140,954 15,074 - 15,074 20,769 - 20,769 385,905 170,005 555,910 150,744 164,883 315,627 $ 536,649 $ 334,888 $ 871,537 (Continued) 38 VILLAGE OF DEERFIELD, ILLINOIS ' Notes to Financial Statements April 30,1994 NOTE 18 - EMPLOYEE RETIREMENT SYSTEMS (Continued) ' Contributions Required and Contributions Made: (Continued) ' Illinois Municipal Police Retirement Pension 1 1 1 1 1 1 1 1 1 1 1 1 1 1 As a % of current covered payroll Employer Normal cost Amortization of unfunded actuarial accrued liability Death and disability cost Supplemental retirement benefit Employee - normal cost Contribution made As a dollar amount Employer Employee 7.04% 3.41 .45 .62 11.52 4.50 16.02% 7.82% 1.46 9.28 9.00 18.28% Totals (Memorandum Only) 7.32% 2.72 .29 .40 10.73 6.09 16.82% $ 385,905 $ 195,933 $ 581,838 150,744 164,883 315,627 536 649 $ 360,816 897 465 As a % of current covered payroll Employer 11.52% 10.69% 11.23% Employee 4.50 9.00 6.09 16.02% 19.69% 17.39% Effects on the contribution requirements of current -year changes Illinois Municipal Retirement The new actuarial assumptions adopted in 1993 will be incorporated into the 1995 contribution rates. The net effect of changes adopted in 1993 is estimated to be $(72,432). Police Pension There have been no changes in the actuarial assumptions, actuarial funding method, or benefit provisions. (Continued) 39 VILLAGE OF DEERFIELD, ILLINOIS Notes to Financial Statements April 30,1994 NOTE 18 - EMPLOYEE RETIREMENT SYSTEMS (Continued) Trend Information: Trend information gives an indication of the progress made in accumulating sufficient assets to pay benefits when due. Ten -year trend information may be found in the supplemental section of the Government's annual financial report. Illinois Totals Municipal Police (Memorandum Year Retirement Pension Only Net assets available for benefits as a % of the pension benefit 1992 61.92 119.43% 96.33% obligation (PBO) 1993 68.99 110.48 106.28 1994 71.22 111.56 95.33 Unfunded (assets in excess of) PBO as a % of annual covered payroll (expressing the unfunded pension benefit obligation as a percentage of annual covered payroll approxi- mately adjusts for the effects of 1992 59.96 (87.79) 9.47 inflation for analysis purposes) 1993 54.57 (49.77) 16.97 1994 53.54 (58.40) 13.97 Employer contributions As a % of annual covered payroll 1992 12.46 10.71 11.86 1993 12.81 10.23 11.83 1994 11.52 10.69 11.23 Required 1992 $ 372,669 $ 142,751 $ 515,426 1993 399,041 134,475 533,466 1994 385,905 170,005 555,910 Made 1992 372,669 166,382 539,051 1993 399,041 180,787 579,828 1994 385,905 195,933 581,838 40 1 1 1 1 1 1 1 GENERAL FUND The General Fund - (also referred to as the Corporate Fund) I To account for resources traditionally associated with governmental services not required to be accounted for in another fund. 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS General Fund Balance Sheet April 30,1994 (with comparative totals for 1993) LIABILITIES AND FUND BALANCE Liabilities Accounts payable $ 220,875 $ 93,682 Compensated absences payable 651,358 612,906 Other payables 4,721 3,396 Total liabilities 876,954 709,984 Fund balance Reserved for due from other governments 1994 1993 ASSETS 6,111 4,886 Cash and investments $ 7,526,092 $ 7,257,665 Receivables Accrued interest 65,447 48,217 Other 162,788 62,535 Due from other governments 4,750,000 4,750,000 Sales tax 381,702 355,110 State income tax 82,590 185,791 Due from other funds 297,395 261,406 Inventory 6,111 4,886 Advances to other funds 1,320,000 1,320,000 Investment in public entity risk pool - HELP 146,832 146,832 Total assets $ 9,988,957 $ 9,642,442 LIABILITIES AND FUND BALANCE Liabilities Accounts payable $ 220,875 $ 93,682 Compensated absences payable 651,358 612,906 Other payables 4,721 3,396 Total liabilities 876,954 709,984 Fund balance Reserved for due from other governments 464,292 540,901 Reserved for inventory 6,111 4,886 Reserved for advances to other funds 1,320,000 1,320,000 Reserved for investment in public entity risk pool - HELP 146,832 146,832 Unreserved Designated - future improvements 4,750,000 4,750,000 Undesignated 2,424,768 2,169,839 Total fund balance 9,112,003 8,932,458 Total liabilities and fund balance $ 9,988,957 L_2,642 442 See accompanying notes to financial statements. 41 VILLAGE OF DEERFIELD, ILLINOIS IGeneral Fund 1 1 1 1 1 1 Excess of revenues over expenditures and other financing uses Fund balance May 1 Residual equity transfer in Transportation Fund April 30 $ 7,900 173,762 8,932,458 5,783 $ 9,112,003 See accompanying notes to financial statements. 42 946,060 7,986,398 $ 8,932,458 Statement of Revenues, Expenditures, ' and Changes in Fund Balance - Budget and Actual Year Ended April 30,1994 (with comparative totals for 1993) - - ----- 1994--------- - - - - -- 1993 Budget Actual Actual ' Revenues Taxes $ 4,080,000 $ 4,235,365 $ 4,030,810 Licenses and permits 181,000 200,226 218,684 t Intergovernmental - 533 - Charges for services 119,500 117,788 131,516 Fines and forfeits 255,000 275,369 272,748 Interest 271,000 468,384 506,735 Miscellaneous 286,100 374,126 307,387 Total revenues 5,192,600 5,671,791 5,467,880 Expenditures General government 1,704,750 1,642,966 1,533,365 Public safety Total expenditures 3,404,950 5,109,700 3,314,493 4,957,459 2,950,222 4,483,587 Excess of revenues over ' expenditures 82,900 714,332 984,293 Other financing (uses) ' Operating transfers (out) Transportation Fund (5,000) - (2,500) Tax Incremental Finance District 2 Fund (70,000) (25,570) (35,733) Vehicle Replacement Fund (515,000) (75,000) (540,570) (38,233) 1 1 1 1 1 1 Excess of revenues over expenditures and other financing uses Fund balance May 1 Residual equity transfer in Transportation Fund April 30 $ 7,900 173,762 8,932,458 5,783 $ 9,112,003 See accompanying notes to financial statements. 42 946,060 7,986,398 $ 8,932,458 VILLAGE OF DEERFIELD, ILLINOIS General Fund Schedule of Revenues - Budget and Actual Year Ended April 30,1994 Licenses and permits Beer /liquor licenses Budget Actual Taxes 5,000 5,014 Sales tax $ 2,210,000 $ 2,313,020 Local use tax 85,000 104,356 Income tax 710,000 719,212 Hotel /motel tax 1,050,000 1,071,119 Photofinishing tax 25,000 27,658 4,080,000 4,235,365 Licenses and permits Beer /liquor licenses 55,000 56,650 Food licenses 5,000 5,014 Other business licenses 17,000 30,802 Building permits 65,000 69,137 Animal licenses 7,000 6,982 Non - business licenses and permits 32,000 31,641 181,000 200,226 Intergovernmental State grants Charges for services Special police services Transfer charges Engineering charges Fines and forfeits Interest Miscellaneous False alarms Sale of materials Rentals Miscellaneous Franchise fees Proceeds from sale of fixed assets Total revenues 43 533 49,500 57,788 60,000 60,000 10,000 - 119,500 117,788 255,000 275,369 271,000 468,384 45,000 51,040 - 3,672 38,600 37,645 22,500 47,939 180,000 232,230 - 1,600 286,100 374,126 $ 5,192,600 $ 5,671,791 1 1 1 I ii 11 1 L 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended April 30,1994 General government Administration Department Salaries Overtime Part -time Employee benefits Professional services Travel, training and dues Printing and advertising Communications Insurance Contractual services Utility services Motor vehicle maintenance Repairs and maintenance Equipment rental Rental property repairs Miscellaneous Supplies Materials Motor vehicle supplies Housing assistance Apparel Small tools and equipment Equipment Motor vehicles Improvements other than buildings Total general government Public safety Police Department Administrative service Salaries Overtime Part -time Employee benefits Professional services Travel, training and dues Printing and advertising Communications Insurance Contractual services (Continued) W Budget 817,150 8,200 134,230 141,160 175,350 32,550 21,350 28,110 62,500 81,200 5,000 6,900 40,600 3,000 44,700 35,100 1,000 2,800 35,000 550 1,000 17,300 10,000 1,704,750 557,820 3,000 17,450 87,700 5,000 5,500 6,400 26,700 134,300 84,350 Actual 800,164 7,461 131,883 127,869 197,911 30,285 17,403 23,142 46,194 60,566 4,408 5,094 22,772 732 143 48,430 27,149 1,606 27,000 151 148 16,471 9,995 35,989 1,642,966 546,959 3,476 13,306 61,853 2,559 6,161 5,096 26,145 111,686 66,169 VILLAGE OF DEERFIELD, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended April 30,1994 Public safety (Cont.) Police Department (Cont.) Administrative service (Cont.) Motor vehicle maintenance Repairs and maintenance Supplies Motor vehicle supplies Apparel Equipment Improvements other than buildings Miscellaneous Investigations Salaries Overtime Employee benefits Travel, training and dues Motor vehicle maintenance Motor vehicle supplies Apparel Equipment Patrol Salaries Overtime Part -time Employee benefits Travel, training and dues Motor vehicle maintenance Supplies Motor vehicle supplies Apparel Equipment Motor vehicles Special services Overtime (Continued) 45 Budget Actual $ 1,400 $ 85 19,000 16,248 34,600 35,043 1,000 285 6,100 6,100 9,000 11,275 - 6,172 9,800 10,195 1,009,120 928,813 154,420 161,656 5,000 3,805 20,150 18,119 2,100 1,617 1,700 267 1,500 562 1,800 1,800 6,500 5,891 193,170 193,717 1,396,000 1,415,302 38,000 41,039 31,800 31,871 208,200 195,345 28,500 21,632 27,880 46,395 - 200 35,000 7,943 24,000 28,917 34,350 40,856 116,200 124,533 1,939,930 1,954,033 18,000 17,545 ' VILLAGE OF DEERFIELD, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended April 30, 1994 46 Budget Actual Public safety (Cont.) Police Department (Cont.) Youth services Salaries $ 203,760 $ 181,659 Overtime 2,000 2,717 Employee benefits 29,350 31,092 Travel, training and dues 2,620 1,597 Motor vehicle maintenance 3,500 1,066 Motor vehicle supplies 2,000 1,054 Apparel 1,200 1,200 Equipment 300 - 244,730 220,385 Total public safety 3,404,950 3,314,493 Total expenditures $ 5,109,700 $ 4,957,459 46 1 n 1 1 1 SPECIAL REVENUE FUNDS Municipal Audit Fund An independent, outside audit is conducted by a firm engaged by the Mayor and Board of Trustees on an annual basis as required by State law. These are earmarked funds that can only be expended for audit purposes. Emergency Services/Disaster Fund The Emergency Services and Disaster Agency supersedes the Civil Defense Agency and now basically relates to natural disasters caused by floods and tornadoes. The Agency also prepares a plan of action to be taken if man -made disasters occur. Street and Bridge Fund ' Accounts for the revenues and resources used in maintaining approximately 70 miles of street and the Railroad Station in the Village of Deerfield. Illinois Municipal Retirement Fund To account for the revenues and expenditures associated with providing disability and ' pension benefits for Deerfield employees. The fund also provides the employer portion of F.I.C.A. Contributions. ' Motor Fuel Tax Fund To account for the activities involved with street maintenance and construction. Financing is provided by the Village's share of State gasoline taxes. State law requires these gasoline taxes to be used for the following purposes: (1) Street construction or reconstruction to improve traffic capacity; (2) Installation of traffic signs, signals, and controls, (3) Sidewalk ' repair and replacement; and (4) The public benefit share of new street improvements when certain criteria are met in connection with a special assessment project. ' Transportation Fund To account for the Taxi Subsidy Program established for senior citizens and the handicapped. Enhanced 911 Fund rTo account for the 911 calling telephone system activity. 1 Lr) NO-48 �o 00Nm N °z O 1-4 r, O fT CO � 00 l� (2 GT n Iq I-� � � Cl V v �' urn r1 N��N � 0 pQR V O�MOCA pN�� > � M > O O d� '•+ v a 3 N Lr) NO-48 �o 00Nm N n O 1-4 r, O fT CO � 00 l� (2 GT n Iq I-� � � Cl V M �I N��N � 0 pQR V O�MOCA pN�� O d� '•+ N N ER � �p4N9 O O A N %0 \D 0" Lf) if er O + n �IN \0 Lr� 00 (V C\ i ; N fT N t, O �� ' fN C �g N N r ti N rr r+ N i Ef3 Efl to C u m M 00 ap � N n fT rnl 00 W EH Efl ffl to ' O ' �CC � � �p n try M o � v M 00 00 fA M M %D \0 Ln n 1 \D O ' ol' I 6s Z O1 0d � 1 N�M 'D� O � -k LgM M a as � �N[M 0 N N ' N , i+ O u � W W I \o I I I Lr) I ao 0p O O L v JC4 N N N 00 Efl � Efl is 4' \D O\ � N In HMO O \\0 0 O 0 fn C\ CJ 'Ly Q ti N ~ N e�H N 1 6s Efl E!> ffl 0�! V�J 7 y oG 0 W .n zca, O1 •� fU V az� fa G O o O u O t.% fn 'b A v & R O O�i O w > u z u 0& H 0! ti b O [- V) �, uPrQ0 v v ar Qa DQu QQQ ] Qu o4 �Afl i";3 "' w ' 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 I ONLnN00 OMeN�O rr to U 1 N i N b _ z 0.4 .�� 00 Q. V QM 1••1 b U1 "8 �-{ 0 v 000 Op 00 M w � > ow w a v w Q) .C7 Q) o l -OZ r-1 � O v ��Wa w WU' cn ).9 U Qt) V M \ kt 0�0 n N N �- ti OMM� Q� O"Oh O ti O U I ONLnN00 OMeN�O rr to Nn00N N 1 N i N g i .�� 00 o0 V nd 000��IIIIII00 O0 In oN�O \D�C140O'N 000 Op 00 000N Lq vO n O O M N O r-1 r-1 � �j 0; c� N MLANM�..., M M Cn X00 �O In : �..K M \ kt 0�0 n N N �- ti OMM� Q� O"Oh O ti NN amiGo°�owD � ch p� 0 5awE N R ~'3 >HaSUS r4 w v > Q, 00 0,� v i 0 ~ 0 N N Lrl w" tz wO G O n Fyl i O O N n N Ln N a,a\NOOM1n.o �NM\0NM V�000 V��4Ln [� 0� OOO 00 f7 d� 0� �0 O V; V; OR �Og040 0 N p � toui\000NMM ON100M \0 O00� ri IL Ln n i 0\ -4 Cl) N N �0 \.0 �O O \0 0\ In M m I . i -t Cl) O � �0 � rr N N �-+ O N I i N f3 i pi O\ 1, 4 1 N i N g i .�� 00 V� 0 0 V 04 O0 In 00 000 N N n m 0 ry N O r-1 r-1 � �j ° r-1 cd a T3 Ov \0 M M NN 0�0 M N N W N C •f" •ia O �+ G O M� amiGo°�owD v � n0\ I M MM pi O\ 1, 4 1 N i N g - SS .�� 00 V� 0 0 V, w X to O L' l0 N N n O 0 � � N O -4 M � �j ° vCG cMM MN T3 Ov M M M NN 0�0 .. M N R id i V' 4!p N C •f" •ia O �+ G O M� amiGo°�owD v r-4 5awE N R ~'3 >HaSUS r4 w v > Q, 00 0,� v i 0 ~ 0 N N Lrl w" wO G O n n O O N n N Ln N � � S O ° . a p � � L MM qj r-4 C14 n0\ I M MM OI-VO O .�� 00 N vCaO V > O �� 00 tri 14 00 N �D -4 � O O1 �ww ° vCG cMM MN T3 Ov M M M NN .. M M R id i V' 4!p `�' o> sN C •f" •ia ''`" F.S'�• iC w O M� amiGo°�owD v to). u� v tZ rte.+ 9 a 0 V ft It vCaO V > O v 0 O O1 �ww ° T3 Ov M M M M 00 R id i V' 4!p `�' o> sN C •f" •ia ''`" F.S'�• iC w O M� amiGo°�owD v 5awE XI-A R ~'3 >HaSUS $,axe v > Q, 00 0,� v i 0 ~ 0 N N Lrl w" wO [� cfz ti C,) -4 N ��rrQI u� v tZ rte.+ 9 a 0 V ft It vCaO V > O v 0 O O1 �ww ° T3 Ov Cl. Gozv Gw °Db to to >� y Q1 +' i G!0 R id i V' 4!p `�' o> sN C •f" •ia ''`" F.S'�• iC w O M� amiGo°�owD 5awE XI-A R ~'3 >HaSUS $,axe v > Q, 00 0,� v 04 w w" wO w u� v tZ rte.+ 9 a 0 V ft It VILLAGE OF DEERFIELD, ILLINOIS Municipal Audit Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended April 30, 1994 Revenues Taxes Property taxes Interest Total revenues Expenditures Miscellaneous Contractual Excess of revenues over expenditures Fund balance May 1 April 30 ------------ 1994------ - - - - -- Budget Actual $ 15,000 15,000 $ 13,981 19 14,000 1993 Actual $ 13,521 20 13,541 14,000 13,225 12,600 L-11-000 775 941 11,324 10,383 12,099 11,324 See accompanying notes to financial statements. 49 VILLAGE OF DEERFIELD, ILLINOIS Emergency Services/ Disaster Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended April 30, 1994 Revenues Taxes Property taxes Interest Miscellaneous Total revenues Expenditures Public safety Travel, training and dues Communications Insurance Contractual Utility services Motor vehicle maintenance Petroleum products Repairs and maintenance Supplies Equipment Total expenditures Excess (deficiency) of revenues over expenditures Fund balances May 1 April 30 ------ - - - - -- 1994------ - - - - -- 1993 Budget Actual Actual $ 5,000 $ 4,991 $ 5,022 6 7 - 1,762 5,000 5,000 6,759 10,029 700 - - 1,800 969 1,097 600 123 250 300 1,369 90 300 640 550 1,300 305 965 200 - - 500 - 120 500 47 - 1,200 - - 7,400 3,453 3,072 2 400 3,306 6,957 11543 (18,500 $ =) $ 11543) See accompanying notes to financial statements. 50 VILLAGE OF DEERFIELD, ILLINOIS Street and Bridge Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended April 30,1994 Revenues Taxes Property taxes Licenses and permits Vehicle licenses Charges for services State highway maintenance 50/50 Sidewalk and curb 50/50 Tree Train station maintenance Traffic signal reimbursement Interest Miscellaneous Other Total revenues Expenditures Highways and streets Administration Cleaning Traffic marking Pavement patching Tarring cracks Drainage structure Street lights and traffic signals Miscellaneous maintenance Snow and ice control Weed control Tree removal Tree planting Railroad station maintenance Total expenditures Excess (deficiency) of revenues over expenditures Other financing sources (uses) Operating transfers in (out) Motor Fuel Tax Fund Vehicle Replacement Fund Commuter Parking Lot Fund Excess (deficiency) of revenues and other financing sources over expenditures and other financing uses Fund balance May 1 April 30 -- 1994 - - - - -- 1993 Budget Actual Actual $ 330,000 $ 338,737 340,000 335,619 26,000 25,669 5,000 - - 4,476 1,500 1,500 2,000 - 21,000 28,699 3,000 2,063 728,500 736,763 172,570 47,050 58,800 111,890 44,930 32,490 110,890 60,790 193,300 16,070 67,050 18,840 41,390 976,060 (247,560 184,953 43,792 45,244 101,168 34,909 35,618 80,421 58,831 274,635 12,579 63,221 14,486 31,647 981,504 (244,741 $ 336,280 335,737 25,455 33,849 3,205 1,500 27,011 5,',44 768,581 161,124 35,286 45,857 100,577 28,181 32,795 95,907 129,735 211,724 15,547 50,423 11,667 25,754 944 77 (175,996 210,000 210,000 205,000 (48,500) (48,500) (59,480) 80,000 80,000 70,000 241,500 241,500 215,520 $ 6 060 (3,241) 39,524 324,348 284,824 $ 321,107 $ 324,348 See accompanying notes to financial statements. t 51 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS Street and Bridge Fund Schedule of Expenditures - Budget and Actual Year Ended April 30,1994 Cleaning Salaries Budget Actual Highways and streets 1,040 502 Public works 3,560 3,399 Administration 700 235 Salaries $ 60,800 $ 70,001 Overtime 6,430 5,077 Employee benefits 9,880 10,602 Professional services 300 - Travel, training and dues 1,800 1,256 Printing and advertising 3,800 4,216 Communications 4,400 4,146 Insurance 63,560 57,709 Motor vehicle maintenance 2,900 5,973 Miscellaneous 2,000 4,926 Supplies 5,000 6,218 Motor vehicle supplies 1,500 1,118 Apparel 1,800 587 Repairs and maintenance 3,300 4,446 Contractual 5,100 8,678 172,570 184,953 Cleaning Salaries 24,550 25,936 Overtime 1,040 502 Employee benefits 3,560 3,399 Small tools and equipment 700 235 Contractual 2,000 1,137 Motor vehicle maintenance 4,100 550 Repairs and maintenance 6,300 10,188 Equipment rental 1,000 - Motor vehicle supplies 1,400 1,001 Supplies 2,400 844 47,050 43,792 Traffic marking Salaries 27,530 20,582 Overtime 210 455 Part -time 3,150 3,322 (Continued) 52 VILLAGE OF DEERFIELD, ILLINOIS Street and Bridge Fund Schedule of Expenditures - Budget and Actual Year Ended April 30,1994 Pavement patching Salaries Budget Actual Highways and streets (Cont.) 500 32 Public works (Cont.) 8,120 8,572 Traffic marking (Cont.) 5,830 3,911 Employee benefits $ 4,310 $ 3,025 Motor vehicle maintenance 900 714 Repairs and maintenance 500 889 Motor vehicle supplies 200 - Materials 5,000 1,879 Street signs 7,000 2,244 Contractual 10,000 12,134 58,800 45,244 Pavement patching Salaries 55,240 48,513 Overtime 500 32 Employee benefits 8,120 8,572 Motor vehicle maintenance 5,830 3,911 Repairs and maintenance 4,000 2,233 Motor vehicle supplies 1,700 495 Aggregates 35,000 36,039 Materials 1,500 1,373 111,890 101,168 Tarring cracks Salaries 26,040 21,564 Overtime 400 33 Part -time 3,790 3,211 Employee benefits 3,800 3,298 Motor vehicle maintenance 1,000 591 Repairs and maintenance 1,800 986 Motor vehicle supplies 1,500 362 Aggregates 600 - Materials 5,000 4,864 Equipment rental 1,000 - 44,930 34,909 (Continued) 53 1 1 1 1 1 1 n 1 C 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS Street and Bridge Fund Schedule of Expenditures - Budget and Actual Year Ended April 30,1994 Street lights and traffic signals Salaries Budget Actual Highways and streets (Cont.) 4,160 1,277 Public works (Cont.) 2,870 4,747 Drainage structures 28,000 12,402 Salaries $ 20,460 $ 22,364 Overtime 900 2,313 Employee benefits 3,300 3,958 Motor vehicle maintenance 2,330 373 Repairs and maintenance 1,500 2,434 Motor vehicle supplies 200 408 Aggregates 1,800 2,014 Materials 2,000 1,754 32,490 35,618 Street lights and traffic signals Salaries 22,060 29,923 Overtime 4,160 1,277 Employee benefits 2,870 4,747 Contractual 28,000 12,402 Utility services 43,000 21,608 Motor vehicle maintenance 2,000 2,416 Repairs and maintenance 1,500 2,829 Equipment rental 1,000 - Motor vehicle supplies 1,000 806 Aggregates 300 408 Materials 5,000 4,005 110,890 80,421 Miscellaneous maintenance Salaries 7,890 5,727 Overtime 3,120 8,520 Employee benefits 2,730 1,126 Contractual 3,700 3,040 Motor vehicle maintenance 1,000 1,947 Repairs and maintenance 3,200 6,064 Small tools and equipment 400 20 Miscellaneous 1,200 1,609 Motor vehicle supplies 500 555 (Continued) 54 VILLAGE OF DEERFIELD, ILLINOIS Street and Bridge Fund Schedule of Expenditures - Budget and Actual Year Ended April 30,1994 Snow and ice control Salaries Budget Actual Highways and streets (Cont.) 38,720 63,644 Public works (Cont.) 4,310 9,443 Miscellaneous maintenance (Cont.) 24,000 21,632 Aggregates $ 4,500 $ 429 Materials 31,550 29,794 Equipment rental 1,000 - Motor vehicle supplies 60,790 58,831 Snow and ice control Salaries 29,270 58,554 Overtime 38,720 63,644 Employee benefits 4,310 9,443 Motor vehicle maintenance 24,000 21,632 Repairs and maintenance 23,000 37,208 Equipment rental 1,000 12,156 Supplies 2,500 640 Motor vehicle supplies 51000 4,766 Salt 56,000 57,522 Aggregates 7,000 6,534 Materials 2,500 2,536 193,300 274,635 Weed control Salaries 5,380 2,831 Overtime 100 - Part -time 3,150 1,543 Employee benefits 1,170 1,381 Motor vehicle maintenance 1,170 682 Repairs and maintenance 3,600 4,916 Motor vehicle supplies 400 348 Materials 500 302 Equipment 600 576 16,070 12,579 (Continued) 55 VILLAGE OF DEERFIELD, ILLINOIS ' Street and Bridge Fund Schedule of Expenditures - Budget and Actual ' Year Ended April 30,1994 I Budge Actual 1 Highways and streets (Cont.) Public works (Cont.) 6,930 5,872 Tree removal 210 342 ' Salaries $ 12,230 $ 3,713 ' Overtime 690 1,009 ' Part -time Employee benefits 5,590 2,020 6,492 705 Contractual 36,000 40,630 ' Motor vehicle maintenance 820 1,295 Repairs and maintenance 800 503 Motor vehicle supplies 400 408 ' Equipment 8,500 8,466 ' Railroad station maintenance 67,050 63,221 �J ' 56 Tree planting Salaries 6,930 5,872 Overtime 210 342 Employee benefits 1,210 702 ' Contractual 9,000 6,370 Motor vehicle maintenance 590 426 Repairs and maintenance 300 212 ' Motor vehicle supplies 200 55 Materials 400 507 18,840 14,486 ' Railroad station maintenance Salaries 3,000 5,859 Overtime 500 6 ' Part -time 5,240 3,103 Employee benefits 1,770 973 Contractual services 81480 5,469 t Repairs and maintenance 14,700 8,425 Supplies 500 767 Aggregates 200 34 1 Materials 7,000 7,011 41,390 31,647 Total expenditures 976,060 981,504 �J ' 56 VILLAGE OF DEERFIELD, ILLINOIS Illinois Municipal Retirement Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended April 30,1994 Revenues Taxes Property taxes Replacement taxes Interest Total revenues Expenditures Miscellaneous Illinois municipal retirement payments - employer FICA payments - employer Total expenditures Excess of revenues over expenditures Fund balance May 1 April 30 ---- - - - - -- 1994--------- - - - - -- 1993 Budget Actual Actual $ 800,000 $ 748,104 $ 671,727 6,500 8,136 6,850 2,000 5,427 1,466 808,500 761,667 680,043 430,000 395,593 413,604 331,000 260,007 255,807 761,000 655,600 669,411 47,500 106,067 10,632 203182 (213,814 $__(27j 11 $ 203182 See accompanying notes to financial statements. 57 VILLAGE OF DEERFIELD, ILLINOIS Motor Fuel Tax Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended April 30,1994 Revenues Intergovernmental Allotments earned Interest Total revenues Expenditures Highways and streets Street resurfacing and renovation program Bridge rehabilitation Traffic signals Total expenditures Excess of revenues over expenditures Other financing (uses) Operating transfers (out) Street and Bridge Fund Excess of revenues over expenditures and other financing uses Fund balances May 1 April 30 1993 Budget Actual Actual $ 375,000 $ 416,072 $ 351,435 45,000 36,539 32,465 420,000 452,611 383,900 93,000 71,749 88,267 30,000 44,880 10,932 27,000 66,608 21,491 150,000 183,237 120,690 270,000 269,374 263,210 (210,000) (210,000) (205,000 60,000 59,374 58,210 945,700 887,490 $ 1,005,074 $ 945,700 See accompanying notes to financial statements. 58 VILLAGE OF DEERFIELD, ILLINOIS Transportation Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended April 30,1994 Revenues Intergovernmental Grant Expenditures Miscellaneous Transportation Excess (deficiency) of revenues over expenditures Other financing sources Operating transfers in General Fund Excess (deficiency) of revenues and other financing sources over expenditures Fund balance May 1 Residual equity transfer (out) General Fund April 30 ---- - - - --- 1994---- - - - - -- 1993 Bum Actual Actual 5,200 _ (5,200) 5,000 _ 200) See accompanying notes to financial statements. 59 $ 1,010 _ 4,017 (3,007) 2,500 (507) 5,783 6,290 (5,783) - $ - $ 5,783 VILLAGE OF DEERFIELD, ILLINOIS Enhanced 911 Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended April 30,1994 Revenues Charges for services Other charges Interest Total revenues Expenditures Public safety Contractual Equipment Total expenditures Excess of revenues over expenditures Fund balance May 1 April 30 ----- - - - - -- 1994------ - - - - -- 1993 Budget Actual Actual $ 91,730 $ 96,813 $ 99,808 1,000 773 939 92,730 97,586 100,747 33,600 29,699 37,338 35,000 36,489 4,262 68,600 66,188 41,600 24,130 31,398 59,147 22,778 (36,362) $ 54,176 $ 22,778 See accompanying notes to financial statements. 60 1 1 1 1 DEBT SERVICE FUNDS ' Debt Service Fund - to account for the accumulation of resources for the P a Y ment of General Long -Term Debt. 1993 Bond Proceeds Fund - to account for the accumulation of resources for the P a Y ment of General Long -Term Debt (Bond Series 1993). This Fund was closed to the Debt Service ' Fund during Fiscal 1994. 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS Debt Service Funds Combining Balance Sheet April 30, 1994 (with comparative totals for 1993) See accompanying notes to financial statements. 61 1993 Debt Bond - - - --- Totals - -- Service Proceeds 1994 1993 ASSETS Cash and investments $ 1,664,465 $ - $ 1,664,465 $ 1,812,418 Receivables Property taxes 900,335 - 900,335 1,018,289 Accrued interest 17,579 - 17,579 6,761 Prepaid items - - - 14,838 Due from other funds 5,924 - 5,924 Due from component unit 1,227 - 1,227 - Total assets $ 2,589,530 $ 2,589,530 $ 2,852,306 LIABILITIES AND FUND BALANCES Liabilities Accounts payable $ - $ - $ - $ 15,589 Due to component unit - - - 908 Deferred property taxes 1,022,045 - 1,022,045 11140,724 Deferred revenues - - - 199,969 Total liabilities 1,022,045 - 1,022,045 1,357,190 Fund balances Reserved for debt service 1,567,485 - 1,567,485 1,495,116 Total liabilities and fund balances $ 2,589,530 $ - $ 2,589,530 $ 2,852,306 See accompanying notes to financial statements. 61 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS Debt Service Funds Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Year Ended April 30,1994 (with comparative totals for 1993) Revenues Taxes Property taxes Replacement taxes Interest Miscellaneous Tax incremental finance district surplus property tax rebate Total revenues Expenditures Debt service Principal retirement Interest Fiscal charges Total expenditures Excess (deficiency) of revenues over expenditures Other financing sources (uses) Bond proceeds Transfer to escrow agent Operating transfers in Excess (deficiency) of revenues and other financing sources over expenditures and other financing uses Fund balances May 1 Residual equity transfers in Residual equity transfers (out) April 30 1993 Debt Bond -------------- Totals---- - - - - -- Service Proceeds 1994 1993 $ 1,174,012 $ - $ 1,174,012 $ 1,297,991 56,622 - 56,622 47,676 93,365 946 94,311 66,698 199,079 - 199,079 188,426 1,523,078 946 1,524,024 1,600,791 1,370,000 - 1,370,000 1,260,000 517,553 - 517,553 950,312 5,475 69,779 75,254 5,330 1,893,028 69,779 1,962,807 2,215,642 (369,950) (68,833) (438,783) (614,851) 433,500 433,500 63,550 1,495,116 8,819 $ 1,567,485 9,910,043 (9,832,391) 77,652 8,819 9,910,043 (9,832,391) 433,500 511,152 72,369 456,750 456,750 (158,101) 1,495,116 1,653,217 - 8,819 - (8,819) (8,819) - $ - $ 1,567,485 $__1,495 116 See accompanying notes to financial statements. 62 VILLAGE OF DEERFIELD, ILLINOIS Debt Service Funds Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended April 30,1994 Revenues Taxes Property taxes Replacement taxes Interest Miscellaneous Tax incremental finance district surplus property tax rebate Total revenues Expenditures Debt service Principal retirement Interest Fiscal charges Total expenditures Excess (deficiency) of revenues over expenditures Other financing sources Operating transfers in Tax incremental Finance District 1 Fund Tax incremental Finance District 2 Fund Excess (deficiency) of revenues and other financing sources over expenditures Fund balance May 1 Residual equity transfer in 1993 Bond Proceeds Fund April 30 ----------- - - - - -- 1994 - - - - -- 1993 Budget Actual Actual $ 1,068,563 $ 1,174,012 $ 1,297,991 35,000 56,622 47,676 75,000 93,365 66,698 175,000 199,079 188,426 1,353,563 1,523,078 1,600,791 1,879,563 ] 1,370,000 1,260,000 ] 517,553 950,312 6,000 5,475 5,330 1,885,563 1,893,028 2,215,642 (532,000) (369,950) (614,851) 82,200 82,200 89,250 351,300 351,300 367,500 433,500 433,500 456,750 $ (98,500) 63,550 (158,101) 1,495,116 1,653,217 8,819 - $ 1,567,485 $ 1,495,116 See accompanying notes to financial statements. 63 VILLAGE OF DEERFIELD, ILLINOIS Debt Service Funds Schedule of Expenditures - Budget and Actual Year Ended April 30,1994 Debt service Corporate Purpose Bond Series of 1982 Principal Interest Corporate Purpose Bond Series 1982 -A Principal Interest Corporate Purpose Bond Series of 1986 Principal Interest General Obligation Bond Series of 1988 Principal Interest General Obligation Bond Series of 1991 Principal Interest General Obligation Refunding Bond Series of 1993 Principal Interest Fiscal charges Total expenditures Budget Actual [ $ 75,000 [ 14,250 $ 1,879,563[ 50,000 [ 4,250 [ 515,000 [ 142,433 [ 150,000 [ 39,665 [ 300,000 [ 67,500 [ 280,000 [ 249,455 6,000 5,475 $ 1,885,563 $ 1,893,028 CAPITAL PROJECTS FUNDS t Tax Incremental Finance District 1 Fund Established in 1982 to rovide funds for land acquisition and improvements to the Village of P q P g Deerfield Tax Increment Financing District. ' Tax Incremental Finance District 2 Fund Established in 1987 to provide funds for land acquisition and improvements to the Village of Deerfield Tax Increment Financing District. ' Brickyards Development Fund Established for the purpose of providing improvements to the area known as The Brickyards ' property. This includes construction of Culverts, Creek Realignment, and the extension of Pfingsten Road, which includes a bridge at Lake -Cook and an overpass at Kates Road. This Fund was closed in Fiscal 1994. Vehicle and Equipment Replacement Fund Established to account for the funds annually set aside for the eventual replacement of rcertain vehicles and other equipment. Brickyard Park Fund Established in 1988 to account for the construction and g a P engineering of ark for Deerfield g Park District located within the area known as The Brickyard. This Fund was closed in Fiscal 1994. Capital Improvements Series 1988 Fund ' Established in 1988 to provide funds for the acquisition of right -of -way for the Access Avenue Project: traffic signal modification; sanitary sewer and street rehabilitation; the ' installment of a new 16 inch water main, and storm drainage improvements. Infrastructure Replacement Fund ' Established in 1989 for the purpose of maintaining, repairing and renovating the capital assets of the Village. ' Project 29 Fund Established in 1991 to account for the funds held in escrow as required by the Local Cooperation Agreement between the Department of the Army and the Village for the construction of the Flood Water Retention Reservoir No. 29A on the West Fork of the North Branch of the Chicago River. Capital Projects Series 1991 1 Established in 1991 to provide various improvements for the redevelopment of downtown Deerfield. 1 M 1-4 0 z a a to a w w A w t 1 1 M W x w w u � on ra U 0 U I Ln0, O Ln rn n 00,t, 0t, Ln 00 o ao N (V N O M Lq C� O 00 t\ M a0 r i t\ � "0 N M ~ 0\ N NMMr~ NN(2 �I -4 fA ~ tF� f a E' O 00 -4 M NNcM0000 M M I N �o O rti r-I 0\ R Cl LO \0 Op -4 r4 0 0 N n O lri G� O M In 00 qw Lri \O O NAM �D�i In LO O N Nr-�NNCCO Q\ OBI � ~ �O 00 r-i 00 r� - M N Cy r+ M M C) M r~ M U 0.4 p� O O N N O 00 C14 O v N p f y O, v 00 rn o op � � y fo �, al go 'r, y,n o . . . . . . w� f O „ 1 1 , 1 I I Q vs III 0 �' + 1 1 r�cS °o x cS c u `2 tM. 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' � a rte-, C'^y OO M 1co O � ti OD 'p N N (O N C , u \D \O aNp N N cC11 r, U�•�' rn E M N v N Co C14 N �, a ( EH EA GCG! Gi O O tO�j u > jy� 43 fR f�3 ' G At C N Cf) N p ~�pp O F2 - N 0! U R �Mp L .fir O H O1 OM�O v w Q Efl ..i Efl N N c N Uy u c6 0 ONO ONO 00 Q U!J. y y, rya, W a v I OD 00 = T cx M ►+ o Gl U a A O go go x ° w Y3 v r .r. V V-i �O two a V Rf N N Ii 1 1 1 1 Water Fund ENTERPRISE FUNDS To account for all activity necessary to provide water to the residents of the Village of ' Deerfield including administration, operation, maintenance, financing and related Debt Service. Sewerage Fund To account for the provision of sewer service to the residents of the Village of Deerfield. All ' activity necessary to provide such services is accounted for in this fund including, but not limited to, administration, construction, maintenance, and operations of the Sewerage Treatment Plant. Refuse Fund I [1 1 1 1 C� 1 1 To account for all revenues and expenses necessary to provide the residents of the Village of Deerfield with refuse service. Commuter Parking Lot Fund To account for all activity necessary to construct, operate, and maintain the commuter parking facilities within the Village. VILLAGE OF DEERFIELD, ILLINOIS Enterprise Funds Combining Balance Sheet April 30,1994 (with comparative totals for 1993) Commuter Parking Totals Water Sewerage Refuse Lot 1994 1993 ASSETS Current assets Cash and investments $ 2,348,714 $1,392,633 $ 25,047 $ 538,048 $ 4,304,442 $ 4,095,711 Receivables Property taxes - - 640,308 - 640,308 647,554 Accounts 453,801 280,447 147,057 - 881,305 843,833 Accrued interest 24,622 18,379 - 6,094 49,095 41,685 Other 74,104 4,652 1,939 - 80,695 106,517 Due from other funds - - 2,122 - 2,122 1,162 Due from component unit - - 3,413 - 3,413 - Inventories 40,113 4,104 - - 44,217 33,530 Investment in public entity risk pool - HELP 25,732 63,501 - - 89,233 89,233 2,967,086 1,763,716 819,886 544,142 6,094,830 509,225 Fixed assets (net of accumulated depreciation) 2,194,071 5,270,563 - 250,743 7,715,377 7,946,291 Total assets $ 5,161,157 $7 ,034,279 $ 819,886 $ 794,885 $13 10 207 $13,805,516 LIABILITIES AND FUND EQUITY Current liabilities Accounts payable $ 140,310 $ 36,952 $109,162 $ 1,082 $ 287,506 $ 326,236 Compensated absences payable 52,797 116,713 - - 169,510 161,717 Due to other funds - - - - - 10,007 Total liabilities 193,107 153,665 109,162 1,082 457,016 497,960 Fund equity Contributed capital 1,771,882 5,617,510 - 239,697 7,629,089 7,720,693 Retained earnings Unreserved 3,196,168 1,263,104 710,724 554,106 5,724,102 5,586,863 Total fund equity 4,968,050 6,880,614 710,724 793,803 13,353,191 13,307,556 Total liabilities and fund equity $ 5,161,157 $7,034279 86 819 86 $ 794,885 $13 10 207 $13 05 516 See accompanying notes to financial statements. 67 P, 1 VILLAGE OF DEERFIELD, ILLINOIS Enterprise Funds Combining Statement of Revenues, Expenses, and Changes in Retained Earnings - Unreserved Year Ended April 30,1994 (with comparative totals for 1993) ISee accompanying notes to financial statements. 1 68 Commuter Parking - Totals ---- -- Water Sewerage Refuse Lot 1994 1993 Operating revenues Charges for services Water sales $ 2,250,359 $ - $ - $ - $ 2,250,359 $ 2,334,839 Sewer charges - 1,170,214 - - 1,170,214 1,153,033 Refuse billings - - 732,188 - 732,188 752,995 Parking lot fees - 174,636 174,636 155,577 Surcharges _ 48,470 _ 48,470 48,316 Miscellaneous 27,444 38,393 3,064 68,901 108,911 Total operating revenues 2,277,803 1,257,077 735,252 174,636 4,444,768 4,553,671 Operating expenses excluding Depreciation Administration 227,317 214,058 86,655 - 528,030 479,911 Operations Total 1,975,644 1,036,443 1_,335,528 51,367 4,398,982 4,541,713 ' operating expenses excluding depreciation 2,202,961 12, 50,501 1,422,183 51,36 4,927,012 5,021,624 Operating income (loss) ' before depreciation 74,842 6,576 (686,931) 123,269 (482,244) (467,953) Depreciation 89,782 239,245 31,630 360,657 384,055 ' Operating income (loss) Nonoperating revenues (14,940) (232,669) (686,931) 91,639 (842,901) 852 008 Interest income 108,063 77,011 4,613 36,661 226,348 259,961 Income from public entity risk pool - - 15,343 ' Property taxes _ _ 723,151 _ 723,151 726,797 108,063 77,011 727,764 36,661 949,499 1,002,101 Income (loss) ' before operating transfers 93,123 (155,658) 40,833 128,300 106,598 150,093 Operating transfers (out) (36,500) (20,000) 13100 (80,000) (149,600) 148 730 ' Net income (loss) 56,623 (175,658) 27,733 48,300 (43,002) 1,363 Other changes in retained earnings - unreserved Depreciation that reduces contributed capital 39,720 124,551 - 15,970 180,241 191,773 Net increase (decrease) in 1 retained earnings - unreserved 96,343 (51,107) 27,733 64,270 137,239 193,136 Retained earnings - unreserved May 1 3,099,825 13, 14,211 682,991 489,836 5,586,863 5,393,727 April 30 $ 3,196,168 $ 1,263,104 $ 710,724 $ 554,106 $ 5,724,102 5 86 863 ISee accompanying notes to financial statements. 1 68 VILLAGE OF DEERFIELD, ILLINOIS Enterprise Funds Combining Statement of Cash Flows Year Ended April 30,1994 (with comparative totals for 1993) Net increase (decrease) in cash and cash equivalents 907,287 54,053 25,047 141,141 1,127,528 (2,156) Cash and cash equivalents May 1 142,644 149,619 - 46,907 339,170 341,326 April 30 $ 1,049,931 $ 203,672 $ 25,047 $ 188,048 $ 1,466,698 $ 339,170 Cash and investments Cash and cash equivalents $ 1,049,931 $ 203,672 $ 25,047 $ 188,048 $ 1,466,698 $ 339,170 Investments 1,298,783 1,188,961 - 350,000 2,837,744 3,756,541 $ 2348,714 $ 1,392,633 $ 25,047 $ 5 $ 4,304,442 $ 4,095,711 Noncash investing, capital and financing activities: The Water Fund and Sewerage Fund received $71,129 and $17,508 in contributed fixed assets during the year, respectively. See accompanying notes to financial statements. .• Commuter Parking - - - -- Totals Water Sewerage Refuse Lot 1994 1993 Cash flows from operating activities Operating income (loss) $ (14,940) $ (232,669) $ (686,931) $ 91,639 $ (842,901) $ (852,008) Adjustments to reconcile operating income (loss) to net cash provided by operating activities Depreciation 89,782 239,245 - 31,630 360,657 384,055 Other nonoperating revenues - - 723,151 - 723,151 726,797 Changes in assets and liabilities Receivables 23,383 (6,714) 7,271 - 23,940 19,895 Due from other funds - - (4,373) - (4,373) (1,161) Inventories (11,769) 1,082 - - (10,687) (334) Accounts payable 4,484 (46,621) 4,423 (1,016) (38,730) (24,972) Accrued payroll - - - - - (22,308) Compensated absences payable 3,877 3,916 - - 7,793 13,128 Due to other funds - - 1000 - (10,007) (156,622) 94,817 41761 122,253 208,843 86,470 Cash flows from noncapital financing activities Operating transfers (out) (36500) (20,000) 13100 (80,000) (149,600) (148,730) Cash flows from capital and related financing activities Fixed assets purchased - (28,306) - (12)800) (41,106) (21,935) Cash flows from investing activities Purchase of investment securities (165,035) (149,798) - (252,642) (567,475) (3,860,845) Proceeds from sale and maturities of investment securities 918,808 214,444 - 324,676 1,457,928 3,682,923 Interest on investments 95,197 79,474 4,613 39,654 218,938 259,961 848,970 144,120 4,613 111,688 1,109,391 82,039 Net increase (decrease) in cash and cash equivalents 907,287 54,053 25,047 141,141 1,127,528 (2,156) Cash and cash equivalents May 1 142,644 149,619 - 46,907 339,170 341,326 April 30 $ 1,049,931 $ 203,672 $ 25,047 $ 188,048 $ 1,466,698 $ 339,170 Cash and investments Cash and cash equivalents $ 1,049,931 $ 203,672 $ 25,047 $ 188,048 $ 1,466,698 $ 339,170 Investments 1,298,783 1,188,961 - 350,000 2,837,744 3,756,541 $ 2348,714 $ 1,392,633 $ 25,047 $ 5 $ 4,304,442 $ 4,095,711 Noncash investing, capital and financing activities: The Water Fund and Sewerage Fund received $71,129 and $17,508 in contributed fixed assets during the year, respectively. See accompanying notes to financial statements. .• VILLAGE OF DEERFIELD, ILLINOIS Water Fund Balance Sheet April 30,1994 ASSETS Current assets Cash and investments Receivables Accounts - billed Accounts - unbilled Accrued interest Other Inventories Investment in public entity risk pool - HELP Fixed assets Cost Accumulated depreciation Total assets LIABILITIES AND FUND EQUITY Current liabilities Accounts payable Compensated absences payable Fund equity Contributed capital Retained earnings Unreserved Total fund equity Total liabilities and fund equity 1994 1993 $ 2,348,714 $ 2,223,544 88,035 82,717 365,766 344,702 24,622 11,756 74,104 95,525 40,113 28,344 25,732 25,732 2,967,086 2,812,320 3,547,741 3,514,419 (1,353,670) (1,301,695) 2,194,071 2,212,724 $ 5,161,157 $ 5,025,044 $ 140,310 $ 135,826 52,797 48,920 193,107 184,746 1,771,882 3,196,168 4,968,050 $ 5,161,157 See accompanying notes to financial statements. 70 1,740,473 3,099,825 4,840,298 $ 5,025,044 VILLAGE OF DEERFIELD, ILLINOIS Water Fund Statement of Revenues, Expenses, and Changes in Retained Earnings - Unreserved - Budget and Actual Year Ended April 30,1994 Operating revenues Charges for services Water sales Miscellaneous Permits and fees Penalties Other Total operating revenues Operating expenses excluding depreciation Administration Operations Distribution Maintenance - mains and fire hydrants Maintenance - meters Total operating expenses excluding depreciation Operating income (loss) before depreciation Depreciation Operating income (loss) Nonoperating revenues Interest income Income from public entity risk pool Income before operating transfers Operating transfers (out) Vehicle Replacement Fund Net income Other changes in retained earnings - unreserved Depreciation that reduces contributed capital Net increase in retained earnings - unreserved Retained earnings - unreserved May 1 April 30 --------- - - - - -- 1994--------- - - - - -- 1993 Budget Actual Actual $ 2,355,000 $ 2,250,359 $ 2,334,839 10,000 5,823 18,515 25,000 21,267 23,711 8,000 354 5,522 2,398,000 2,277,803 2,382,587 $ 3,196,168 231,640 227,317 199,920 1,837,510 1,665,072 1,777,378 250,830 242,605 222,814 88,520 67,967 48,667 2,408,500 2,202,961 2,248,779 (10,500) 74,842 133,808 - 89,782 90,505 (10,500) (14,940) 43,303 78,000 108,063 127,564 - - 4,425 78,000 108,063 131,989 67,500 93,123 175,292 (36,500) (36,500) (33,750) $ 31,000 56,623 141,542 39,720 40,357 96,343 181,899 3,099,825 2,917,926 $ 3,196,168 $ 3,099,825 , See accompanying notes to financial statements. I 71 1 1 1 1 n 1 1 1 1 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS Water Fund Schedule of Operating Expenses - Budget and Actual Year Ended April 30,1994 Operations Budget Actual Administration Salaries $ 89,200 $ 92,249 Overtime 3,430 4,231 Employee benefits 14,210 14,633 Professional services 35,200 30,000 Travel, training and dues 1,130 130 Printing and advertising 700 1,508 Communications 9,400 9,362 Contractual services 2,100 2,713 Insurance 47,770 44,833 Motor vehicle maintenance 1,600 2,062 Miscellaneous 1,000 1,137 Supplies 1,600 1,458 Motor vehicle supplies 400 376 Occupancy 20,000 20,000 Apparel 1,800 909 Repairs and maintenance 2,100 1,716 Total administration 231,640 227,317 Operations Distribution Salaries 95,630 68,226 Overtime 10,400 10,392 Employee benefits 10,130 11,104 Professional services 6,500 2,340 Printing and advertising 500 983 Contractual services 8,600 9,340 Utility services 71,400 58,834 Motor vehicle maintenance 2,500 1,877 Repairs and maintenance 4,200 3,334 Miscellaneous 600 - Purchase of water 1,610,000 1,487,533 Supplies 700 - Motor vehicle supplies 1,000 822 Chlorine 1,000 800 Materials 3,000 462 Equipment 11,350 9,025 Total distribution 1,837,510 1,665,072 (Continued) 72 VILLAGE OF DEERFIELD, ILLINOIS Water Fund I Schedule of Operating Expenses - Budget and Actual Year Ended April 30,1994 1 Meter maintenance Budget Actual Operations (Cont.) 48,800 39,472 Main and fire hydrant maintenance 730 4,263 Salaries $ 73,780 $ 78,375 Overtime 21,500 26,167 Part -time 8,320 3,809 Employee benefits 11,280 12,629 Contractual services 43,400 27,812 Motor vehicle maintenance 9,000 10,322 Repairs and maintenance 10,500 6,428 Equipment rental 1,000 330 Miscellaneous 2,900 - Motor vehicle supplies 3,500 3,355 Small tools and equipment 300 104 Aggregates 15,000 27,030 Equipment 1,500 1,511 Motor vehicles 3,850 - Materials 45,000 44,733 Total main and fire hydrant maintenance 250,830 242,605 Meter maintenance Salaries 48,800 39,472 Overtime 730 4,263 Part -time 1,100 838 Employee benefits 8,490 6,133 Professional services 1,000 - Travel, training and dues 200 - Printing and advertising 500 - Contractual services 1,000 - Motor vehicle maintenance 3,000 1,753 Repairs and maintenance 700 1,090 Miscellaneous 100 - Supplies 300 1,056 Motor vehicle supplies 11000 528 Materials 5,000 249 Small tools and equipment 100 - Equipment 16,500 12,585 Total meter maintenance 88,520 67,967 Total operating expenses $ 2,408,500 $ 2,202,961 73 Water system Equipment and vehicles Water system Equipment and vehicles Net asset value VILLAGE OF DEERFIELD, ILLINOIS Water Fund Schedule of Fixed Assets and Depreciation Year Ended April 30,1994 Balances MU —1 $ 3,015,265 — - Assets - -- ---- Balances Additions Retirements AARril30 3,015,265 499,154 71,129 37,807 532,476 $ 3,514,419 71,129 37,807 3,547 741 Balances May 1 $ 881,295 420,400 $ 1,301,695 74 Accumulate Additions $ 63,997 25,785 89,782 i Depreciation------ - ----- Balances Retirements ARri130 $ - $ 945,292 37,807 408,378 37,807 $ 1,353,670 $ 2,194,071 VILLAGE OF DEERFIELD, ILLINOIS Sewerage Fund Balance Sheet April 30, 1994 Fixed assets Cost 10,972,238 10,942,349 Accumulated depreciation (5,701,675) (5,478,355) 5,270,563 5,463,994 Total assets $ 7,034,279 L_7, LIABILITIES AND FUND EQUITY Current liabilities Accounts payable $ 36,952 $ 83,573 Compensated absences payable 116,713 112,797 Total liabilities 153,665 196,370 Fund equity Contributed capital 5,617,510 5,724,553 Retained earnings - unreserved 1,263,104 1,314,211 Total fund equity 6,880,614 7,038,764 Total liabilities and fund equity $ 7,0341279 $ 7,235,134 See accompanying notes to financial statements. 75 1994 1993 ASSETS Current assets Cash and investments $ 1,392,633 $ 1,403,226 Receivables Accounts - billed 65,317 64,323 Accounts - unbilled 215,130 206,621 Accrued interest 18,379 20,842 Other 4,652 7,441 Inventories 4,104 5,186 Investment in public entity risk pool - HELP 63,501 63,501 1,763,716 1,771,140 Fixed assets Cost 10,972,238 10,942,349 Accumulated depreciation (5,701,675) (5,478,355) 5,270,563 5,463,994 Total assets $ 7,034,279 L_7, LIABILITIES AND FUND EQUITY Current liabilities Accounts payable $ 36,952 $ 83,573 Compensated absences payable 116,713 112,797 Total liabilities 153,665 196,370 Fund equity Contributed capital 5,617,510 5,724,553 Retained earnings - unreserved 1,263,104 1,314,211 Total fund equity 6,880,614 7,038,764 Total liabilities and fund equity $ 7,0341279 $ 7,235,134 See accompanying notes to financial statements. 75 VILLAGE OF DEERFIELD, ILLINOIS ' Sewerage Fund Statement of Revenues, Expenses, and Changes in Retained Earnings - Unreserved - Budget and Actual Year Ended April 30,1994 1 1 1 1 1 1 1 1 Operating revenues Charges for services Sewer charges Surcharges - construction Miscellaneous Permits and fees Penalties Other Total operating revenues Operating expenses excluding depreciation Administration Operations Treatment plant Cleaning and maintenance Construction Total operating expenses excluding depreciation Operating income (loss) before depreciation Depreciation Operating (loss) Nonoperating revenues Interest income Income from public entity risk pool (Loss) before operating transfers Operating transfers (out) Vehicle Replacement Fund Net (loss) Other changes in retained earnings - unreserved Depreciation that reduces contributed capital Net (decrease) in retained earnings - unreserved Retained earnings - unreserved May 1 April 30 --- ---- ------ 1993 Budget Actual Actual $ 1,140,000 $ 1,170,214 $ 1,153,033 - 48,470 48,316 10,000 8,450 22,995 16,000 13,134 15,373 25,000 16,809 21,255 1,191,000 1,257,077 1,260,972 233,030 829,348 132,305 147,421 1,342,104 (151,104) 102,500 (253,604) 50,000 50,000 (203,604) (20,000) $ (223,604) 214,058 767,215 120,992 148,236 1,250,501 6,576 239,245 (232,669) 77,011 77,011 (155,658) (20,000) (175,658) 124,551 (51,107) 1,314,211 $ 1,263,104 See accompanying notes to financial statements. 76 210,808 778,234 117,741 163,130 1,269,913 (8,941) 262,706 (271,647) 90,959 10,918 101,877 (169,770) (32,980) (202,750) 135,951 (66,799) 1,381,010 $ 1,314,211 VILLAGE OF DEERFIELD, ILLINOIS Sewerage Fund ' Schedule of Operating Expenses - Budget and Actual 340,590 Year Ended April 30, 1994 11,440 20,599 Part -time Budget Actual Administration 58,310 58,327 Salaries $ 89,200 $ 94,000 Overtime 3,430 3,819 Employee benefits 14,170 ' 14,621 Professional services 200 - Travel, training and dues 600 76 Printing and advertising 100 164 Communications 3,430 3,173 ; Insurance 90,200 66,566 Motor vehicle maintenance 900 710 Repairs and maintenance 1,800 1,388 Miscellaneous 500 838 Supplies 1,700 1,780 Motor vehicle supplies 1,000 829 Occupancy 20,000 20,000 Apparel 1,500 743 Contractual services 4,300 5,351 Total administration 233,030 214,058 Operations Treatment plant Salaries 352,600 340,590 Overtime 11,440 20,599 Part -time 5,460 4,606 Employee benefits 58,310 58,327 Professional services 5,000 - Travel, training and dues 1,850 257 Printing and advertising 500 33 Communications 7,670 7,157 Contractual services 30,500 128 Utility services 175,500 179,687 Motor vehicle maintenance 4,000 1,651 Repairs and maintenance 124,500 120,370 Equipment rental 4,500 190 Supplies 17,000 17,869 Motor vehicle supplies 8,000 3,533 Chlorine 51000 3,794 Aggregates 5,000 814 Materials 6,500 7,302 Small tools and equipment 1,200 1,120 Apparel 1,700 767 Equipment 26,200 23,540 Miscellaneous 3,000 963 Total 855,430 793,297 Less nonoperating items Fixed assets capitalized 26,082 26,082 Total treatment plant 829,348 767,215 (Continued) 77 1 VILLAGE OF DEERFIELD, ILLINOIS Sewerage Fund Schedule of Operating Expenses - Budget and Actual Year Ended April 30,1994 Budget Actual 1 1 F. Operations (Cont.) Cleaning and maintenance Salaries $ 66,380 $ 69,926 Overtime 5,000 2,893 Part -Time 2,910 1,524 Employee benefits 11,820 11,699 ' Contractual services 5,000 6,525 Motor vehicle maintenance 4,500 4,901 Repairs and maintenance 5,000 9,380 Equipment rental 1,000 894 Miscellaneous 2,000 Supplies 12,600 7,496 Motor vehicle supplies 1,400 315 Aggregates 2,500 79 Materials 6,000 5,342 Equipment 4,000 1,757 Motor vehicles 3,850 - Small tools and equipment 300 216 Total 134,260 122,947 Less nonoperating items Fixed assets capitalized 1,955 1,955 Total cleaning and maintenance 132,305 120,992 Construction ' Salaries Overtime 82,240 800 79,100 617 Part -time 1,600 3,939 Employee benefits 14,450 12,528 Contractual services Motor vehicle maintenance 5,000 6,200 - 8,258 Repairs and maintenance 13,200 21,193 Equipment rental 1,000 - Supplies 1,000 660 Motor vehicle supplies 2,000 2,538 Aggregates 6,000 3,127 Materials 14,000 16,389 Small tools and equipment 200 156 Total 147,690 148,505 Less nonoperating items Fixed assets capitalized 269 269 Total construction 147,421 148,236 tTotal operating expenses $ 1,342,104 $ 1,250,501 1 1 F. VILLAGE OF DEERFIELD, ILLINOIS Sewerage Fund Schedule of Fixed Assets and Depreciation Year Ended April 30,1994 _ —____— ____Assets - ---_w_ Balances Balances May 1 Additions Retirements April 30 Sewer system $ 10,654,792 $ - $ - $ 10,654,792 Equipment and vehicles 287,557 45,814 15,925 317,446 $ 10,942,349 45 814 L151925 $ 10,972,238 79 -------- - - - - -- Accumulated Depreciation — --- Balances Balances MU —1 Additions Retirements April 30 Sewer system $ 5,210,282 $ 232,641 $ - $ 5,442,923 Equipment and vehicles 268,073 6,604 15,925 258,752 $ 5,478,355 239 245 L 5,925 $ 5,701,675 Net asset value $ 5,270,563 79 VILLAGE OF DEERFIELD, ILLINOIS Refuse Fund Balance Sheet April 30,1994 LIABILITIES AND FUND EQUITY Current liabilities Accounts payable $ 109,162 $ 104,739 Due to other funds - 10,007 Total liabilities 109,162 114,746 Fund equity Retained earnings - unreserved 710,724 682,991 Total liabilities and fund equity 819 886 797,737 See accompanying notes to financial statements. 80 1994 1993 ASSETS Current assets Cash and investments $ 25,047 $ - Receivables Property taxes 640,308 647,554 Accounts - billed 24,034 21,824 Accounts - unbilled 123,023 123,646 Other 1,939 3,551 Due from other funds 2,122 1,162 Due from component unit 3,413 - Total assets $ 819,886 $ 797,737 LIABILITIES AND FUND EQUITY Current liabilities Accounts payable $ 109,162 $ 104,739 Due to other funds - 10,007 Total liabilities 109,162 114,746 Fund equity Retained earnings - unreserved 710,724 682,991 Total liabilities and fund equity 819 886 797,737 See accompanying notes to financial statements. 80 VILLAGE OF DEERFIELD, ILLINOIS Refuse Fund Statement of Revenues, Expenses, and Changes in Retained Earnings - Unreserved - Budget and Actual Year Ended April 30,1994 Operating revenues Charges for services Refuse billing Miscellaneous Total operating revenues Operating expenses Administration Operations Contractual services Total operating expenses Operating (loss) Nonoperating revenues Interest income Property taxes Income before operating transfers Operating transfers (out) Vehicle Replacement Fund Net income Retained earnings - unreserved May 1 April 30 ----- - - - - -- 1994----- - - - - -- 1993 Budget Actual Actual $ 750,000 $ 732,188 $ 752,995 500 3,064 1,540 750,500 735,252 754,535 96,910 86,655 69,183 1,340,590 1,335,528 1,391,247 1,437,500 1,422,183 1,460,430 (687,000 (686,931) (705,895 5,000 4,613 8,034 725,000 723,151 726,797 730,000 727,764 734,831 43,000 40,833 28,936 13100 13100 (12,0001 29 900 27,733 16,936 682,991 666,055 $ 710,724 $_682 991 See accompanying notes to financial statements. 81 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS Commuter Parking Lot Fund Balance Sheet April 30,1994 1994 1993 ASSETS Current assets Cash and investments $ 538,048 $ 468,941 Receivables - accrued interest 6,094 9,087 544,142 478,028 Fixed assets Cost Accumulated depreciation Total assets LIABILITIES AND FUND EQUITY Current liabilities Accounts payable Fund equity Contributed capital Retained earnings - unreserved Total fund equity Total liabilities and fund equity 710,108 697,308 4�,365) (427,735) 250,743 269,573 $ 794,885 $ 747,601 1,082 2,098 239,697 554,106 793,803 $ 794,885 See accompanying notes to financial statements. 82 255,667 489,836 745,503 $ 747,601 VILLAGE OF DEERFIELD, ILLINOIS Commuter Parking Lot Fund Statement of Revenues, Expenses, and Changes in Retained Earnings - Unreserved - Budget and Actual Year Ended April 30,1994 Operating revenues Parking lot fees Operating expenses excluding depreciation Operations Operating income before depreciation Depreciation Operating income Nonoperating revenues Interest income Income before operating transfers Operating transfers (out) Street and Bridge Fund Net income Other changes in retained earnings - unreserved Depreciation that reduces contributed capital Net increase in retained earnings - unreserved Retained earnings - unreserved May 1 April 30 *---- - - - - -- 1994----- - - - - -- 1993 Budget Actual Actual $ 169,000 $ 174,636 $155,577 53,850 115,150 115,150 24,000 139,150 51,367 123,269 31,630 91,639 36,661 128,300 42,502 113,075 30,844 82,231 33,404 115,635 (80,000) (80,000 (70,000) 59,150 48,300 45,635 See accompanying notes to financial statements. 83 15,970 15,465 64,270 61,100 489,836 428,736 554106 $ 489,836 VILLAGE OF DEERFIELD, ILLINOIS Commuter Parking Lot Fund Schedule of Operating Expenses - Budget and Actual Year Ended April 30,1994 Less nonoperating items Budget Actual Operations 12,800 12,800 Parking lots - village and federal funds Salaries $ 5,130 $ 7,642 Benefits 860 1,235 Insurance 310 416 Utility service 4,000 3,598 Repairs and maintenance 1,500 1,332 Property rentals 7,500 7,440 Supplies 550 365 Aggregates 200 - Materials 800 734 Contractual 7,680 5,892 Equipment 17,700 12,804 Total 46,230 41,458 Less nonoperating items Fixed assets capitalized 12,800 12,800 Total parking lots - village and federal funds 33,430 28,658 Parking lots - village construction Salaries 5,000 6,847 Benefits 870 1,098 Insurance 370 325 Utility services 4,000 4,141 Repairs and maintenance 500 265 Supplies 400 - Aggregates 100 - Materials 1,000 550 Contractual 7,680 5,892 Equipment 500 3,591 Total parking lots - village construction 20,420 22,709 Total operating expenses 53 850 51367 VILLAGE OF DEERFIELD, ILLINOIS Commuter Parking Lot Fund Schedule of Fixed Assets and Depreciation Year Ended April 30,1994 - - -- Assets------- ___w__�_ Balances Balances May 1 Additions Retirements April 30 Land $ 77,500 $ - $ - $ 77,500 Parking lot improvements 619,808 12,800 - 632,608 697,308 12,800 $ - 710,108 Accumulated Depreciation----------- - - - - -- Balances Balances MU 1 Additions Retirements April 30 Parking lot 427,735 31630 L- 459,365 Net asset value LIL01743 1 1 1 INTERNAL SERVICE FUNDS Garage Fund To account for all activity necessary to maintain the efficient and safe operation of Village vehicles and equipment. The Garage is operated and maintained by the Village of Deerfield and the various departments are billed according to the services rendered. ' Insurance Fund To account for monies set aside for the payment of medical, dental, and life insurance ' premiums for Village employees. The revenue is derived from charges to the various funds. 1 1 C� 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS Internal Service Funds Combining Balance Sheet April 30,1994 (with comparative totals for 1993) ASSETS Current assets Cash and investments Receivables Accounts Accrued interest Inventories Total assets LIABILITIES AND FUND EQUITY Current liabilities Accounts payable Compensated absences payable Claims payable Due to other funds Total liabilities Fund equity Retained earnings - unreserved Total liabilities and fund equity ----------- Totals----- - - - - -- Garage Insurance 1994 1993 $ - $ 311,384 $ 311,384 $ 185,136 164 - 164 153 - 2,175 2,175 - 57,931 - 57,931 59,637 $ 58,095 $ 313,559 JjZ1j654 1144 926 $ 4,626 $ 75,712 $ 80,338 $ 50,782 35,101 - 35,101 33,634 - 170,381 170,381 112,000 24,546 - 24,546 49,713 64,273 246,093 310,366 246,129 6178 67,466 61,288 1203 58 095 313 559 371654 $244,926 See accompanying notes to financial statements. 86 1 1 1 1 1 1 1 i 1 1 1 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS Internal Service Funds Combining Statement of Revenues, Expenses, and Changes in Retained Earnings - Unreserved Year Ended April 30,1994 (with comparative totals for 1993) Operating revenues Charges for services Billings Operating expenses Administration Operations Total operating expenses Operating income Nonoperating revenues Interest income Net income Retained earnings - unreserved May 1 April 30 ------- Totals ------- — ----- Garage Insurance 1994 1993 $226,289 $ 1,038,346 $ 1,264,635 $934,736 - 1,005,514 1,005,514 713,744 205,047 - 205,047 176,254 205,047 1,005,514 1,210,561 889,998 21,242 32,832 54,074 44,738 - 8,417 21,242 41,249 (27,420 26,217 6178 $ 67,466 8,417 7,088 62,491 51,826 (1,203) (53,029 $ 61,288 1203 See accompanying notes to financial statements. 87 VILLAGE OF DEERFIELD, ILLINOIS Internal Service Funds Combining Statement of Cash Flows Year Ended April 30,1994 (with comparative totals for 1993) Cash flows from operating activities Operating income Adjustments to reconcile operating income to net cash provided by operating activities Changes in assets and liabilities Receivables Inventories Accounts payable Accrued payroll Compensated absences payable Claims payable Due to other funds Cash flows from noncapital financing activities Cash flows from capital and related financing activities Cash flows from investing activities Purchase of investment securities Proceeds from sale and maturities of investment securities Interest on investments Net increase in cash and cash equivalents Cash and cash equivalents May 1 April 30 Cash and investments Cash and cash equivalents Investments -------------- Totals -------------- Garage Insurance 1994 1993 $ 21,242 $ 32,832 $ 54,074 $ 44,738 (11) - 1,706 - 763 28,793 1,467 - - 58,381 2516 - - 120,006 (11) 431 1,706 847 29,556 47,227 - (2,526) 1,467 2,244 58,381 112,000 (25,167) (26,913) 120,006 178,048 (108,328) (108,328) (193,252) - 68,735 68,735 69,510 - 6,242 6,242 7,088 - (33,351) (33,351) (116,654 - 86,655 86,655 61,394 - 61,394 61,394 - $ - $ 148,049 $ 148,049 $ 61,394 $ - $ 148,049 $ 148,049 $ 61,394 - 163,335 163,335 123,742 $ - $ 311,384 $ 311,384 $ 185,136 See accompanying notes to financial statements. 88 VILLAGE OF DEERFIELD, ILLINOIS Garage Fund Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual Year Ended April 30, 1994 Operating revenues Charges for services Billings Operating expenses Operations Net income Retained earnings May 1 April 30 ----- - - - - -- 1994------ - - - - -- 1993 Budget Actual Actual $ 207,500 $ 226,289 $ 201,863 194,650 205,047 176,254 $ 12,850 21,242 25,609 See accompanying notes to financial statements. 89 (27,420) (53,029 6178) 27 420) VILLAGE OF DEERFIELD, ILLINOIS Garage Fund Schedule of Operating Expenses - Budget and Actual Year Ended April 30,1994 Total operating expenses J124 650 $205,047 .o Budget Actual Operations Public works department Salaries $ 94,300 $101,322 Overtime 6,000 11,744 Employee benefits 15,730 16,027 Apparel 500 15 Travel, training and dues 700 15 Printing and advertising 400 319 Insurance 7,570 4,443 Miscellaneous 200 29 Professional services 50 - Utility services 1,600 1,046 Repairs and maintenance 4,000 4,919 Supplies 59,200 61,911 Motor vehicle supplies 300 286 Communications 1,000 723 Materials 600 - Small tools and equipment 2,500 2,248 Total operating expenses J124 650 $205,047 .o VILLAGE OF DEERFIELD, ILLINOIS Insurance Fund Statement of Revenues, Expenses, and Changes in Retained Earnings Year Ended April 30,1994 See accompanying notes to financial statements. 91 1994 1993 Operating revenues Charges for services Billings $ 1,038,346 $ 732,873 Operating expenses Administration Insurance 1,005,514 713,744 Operating income 32,832 19,129 Nonoperating revenues Interest income 8,417 7,088 Net income 41,249 26,217 Retained earnings May 1 26,217 - April 30 67 466 26,217 See accompanying notes to financial statements. 91 1 1 1 1 TRUST AND AGENCY FUNDS Expendable Trust Fund Corporate Purpose Bond Series of 1987 Redemption Fund - to account for investments held 1 in escrow to pay future principal and interest requirements on the Corporate Purpose Bond Series of 1987. Pension Trust Fund ' Police Pension Fund - to account for the accumulation of resources to pay pension costs. Resources are contributed by police force members at rates fixed by state statutes and by the Village through an annual property tax levy. Agency Funds ' Deposit Fund - to account for monies on deposit with the Village which are being held on a temporary basis. Deferred Compensation Plan Fund - to account for salary deductions held by the government employees. The deferred compensation is available to employees upon termination or ' retirement. Deerfield Cemetery Association Fund - to account for the monies on deposit with the Village which are being held for the Deerfield Cemetery Association. i� 1 1 1 O (45, 0 -1 U M vi m ON O� O\ z MI n � Z L6 N ., rA �- v w oo a wi bA cC ON a 04 z l i O\ r-4 CA 0) pa N in \0 ffl 5 O (45, i i 0 U �, v vi m ri z M M In O� O\ z MI n � Z L6 N ., rA �- v w oo a ON N rr-4 � z l i O\ r-4 CA 0) rH N in \0 ffl o;, v o (fl O I M O n " O cq 0 r, r-I N % r-I i �jj OI O N N O �I w P,0 Q C N i O z m O 0i 0 ON M '~ O 0 O r•+ N i N d) N i i E!i fA a4 �' O � .2 00 Op eW�+ T OO O t w .x l'i m M m GH G i 00 +' 0 N N cu Q U ffl E!3 O N N ,O ., CU O O O� CU O (45, i i kall U �, v I ch 00 v 00 W" 0. Pr� r r v, y ., rA �- v w oo a Q N N l �� rA Q) � CA 0) " in \0 O` o;, v o I r+ .-i H �. 0) a a 0 r, N O r~ r44 �jj w P,0 Q C O r-4 ri 0i 0 un cu yoGp" O O 0 O W ON u d) ER M N N O 0 8 N Ie�InOmMor -+ �OLO%IDNON 0 NO00� N 110 O ON �-i O r•i EA IN O%MCOOQN �0CMONNgpN �nr-4 OS� '-+ O CV r-1 r-1 fA 00 i 1 i i w� I �, v I ch 13 -x v w� o W" 0. Pr� r r v, y ., rA �- v w oo a C) dL O l �� rA Q) � CA 0) " Q U C4 O` M N N O 0 8 N Ie�InOmMor -+ �OLO%IDNON 0 NO00� N 110 O ON �-i O r•i EA IN O%MCOOQN �0CMONNgpN �nr-4 OS� '-+ O CV r-1 r-1 fA 00 i i i i i OD I I ch v ch W" 0. Pr� r r v, y ., 0 S. S O a :�acuwa) 00 O H C) dL It l �� N OO O` kA N N C r-4 ri � d� (3� F2 " n N N Oo M I-R N ON N N 88 00 V z Q FJ N O� Lq IN M O r4 5i n m 0 1.4 o v W" 0. Pr� r r v, y ., 0 S. S O a :�acuwa) w �v O H ON \D r" ON r-i N N r-I LO Ln N M 00 N O� 0 N 9 ri Ln OO n N co r" 0 8 8 O zo ill v O G a O u u L N ' VILLAGE OF DEERFIELD, ILLINOIS Corporate Purpose Bond Series of 1987 Statement of Revenues, Expenditures, and Changes in Fund Balance Year Ended April 30, 1994 Revenues Interest $ 843,000 Expenditures Interest 843,000 Excess of revenues over expenditures - Fund balance May 1 - April 30 See accompanying notes to financial statements. 93 VILLAGE OF DEERFIELD, ILLINOIS Police Pension Fund Statement of Revenues, Expenses, and Changes in Fund Balance - Budget and Actual Year Ended April 30,1994 Operating revenues Taxes Property taxes Replacement taxes Contributions Employee contributions Interest Total revenues Operating expenses Benefits and refunds Pension payments Separation refunds Miscellaneous Filing fee Total operating expenses Net income Fund balance May 1 April 30 ,- - -- 1994--------- - - - - -- 1993 Budget Actual Actual $ 190,000 $ 189,541 $ 175,405 5,000 6,392 5,382 165,000 164,883 160,894 850,000 987,515 789,704 1,210,000 1,3481331 1,131,385 342,000 290,772 234,872 20,000 3,504 - 1,500 1,189 2,530 363,500 295,465 237,402 846,500 1,052,866 893,983 9,274,684 8,380,701 $ 10,327,550 9,274,684 See accompanying notes to financial statements. 94 1 1 1 1 1 1 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS Agency Funds Combining Statement of Changes in Assets and Liabilities Year Ended April 30,1994 Balances Balances May 1 Additions Deductions April 30 All Funds Assets Cash and investments $ 295,170 $ 105,749 $ 121,086 $ 279,833 Receivables - other 5,560 4,123 285 9,398 Assets held by agents for deferred compensation plan (market value) 1,615,930 367,362 77,022 1,906,270 Total assets $ 1,916,660 477,234 198,393 2195 501 Liabilities Accounts payable $ 2,571 $ 93,595 $ 91,019 $ 5,147 Deposits payable 286,552 11,397 24,020 273,929 Due to other funds 11,607 4,880 6,332 10,155 Due to participants 1,615,930 367,362 77,022 1,906,270 Total liabilities $ 1,916,660 $ 477,234 $ 198,393 $ 2,195,501 Deposit Fund Assets Cash and investments $_ 295,170 $ 12,812 $ 31,997 $ 275,985 Liabilities Accounts payable $ 2,286 $ - $ 1,645 $ 641 Deposits payable 286,552 11,397 24,020 273,929 Due to other funds 6,332 1,415 6,332 1,415 Total liabilities $ 295,170 $ 12,812 $ 31,997 $ 275,985 Deferred Compensation Plan Fund Assets Assets held by agents for deferred plan (market value) $ 1,615,930 $ 367,362 77,022 $ 1,906,270 Liabilities Due to participants $ 1,615,930 367,362 $ 77,022 $ 1,906,270 (Continued) 95 VILLAGE OF DEERFIELD, ILLINOIS Agency Funds Combining Statement of Changes in Assets and Liabilities Year Ended April 30,1994 Deerfield Cemetery Association Fund Assets Receivables - other Liabilities Accounts payable Due to other funds Total liabilities Lake -Cook Metra Study Grant Fund Assets Cash and investments Liabilities Accounts payable Balances Balances May 1 Additions Deductions Aril 30 $ 5,560 $ 3,973 $ 285 $ 9,248 $ 285 $ 508 $ 285 $ 508 5,275 3,465 - 8,740 $ 5,560 $ 3,973 $ 285 $ 9,248 $ - $ 99,418 $ 95,570 $ 3,848 $ - $ 99,418 $__95,570 $ 3,848 See accompanying notes to financial statements. 96 1 I 1 I 1 1 I 1 1 U 1 1 1 GENERAL FIXED ASSETS ACCOUNT GROUP Fixed assets used in operations are not accounted for in governmental funds. General fixed assets include all fixed assets not accounted for in Proprietary Funds or in Trust Funds. VILLAGE OF DEERFIELD, ILLINOIS General Fixed Assets Account Group Schedule of General Fixed Assets - by Source April 30, 1994 GENERAL FIXED ASSETS Land $ 3,522,331 Buildings and improvements 4,905,862 Vehicles 760,913 Equipment 1,942,657 $ 11,131,763 INVESTMENT IN GENERAL FIXED ASSETS General revenues $ 5,130,754 Tax incremental financing bonds 4,101,009 General obligation bonds 1,500,000 Installment contracts 400,000 $ 11,131,763 97 VILLAGE OF DEERFIELD, ILLINOIS General Fixed Assets Account Group Schedule of General Fixed Assets - by Function April 30, 1994 Buildings and Function Land Improvements Vehicles Equipment Totals General government $ 2,101,549 $ 286,318 $ 47,380 $ 840,061 $ 3,275,308 Public safety 1,271,340 1,063,748 106,707 558,709 3,000,504 Public works 149,442 3,555,796 606,826 543,887 4,855,951 $ 3,522,331 $ 4,905,862 $ 760,913 $ 1,942,657 $ 11,131,763 VILLAGE OF DEERFIELD, ILLINOIS General Fixed Assets Account Group Schedule of Changes in General Fixed Assets - by Function Year Ended April 30,1994 .. Balances Balances Function MU —1 Additions Retirements April 30 General government $ 3,219,951 $ 63,955 $ 8,598 $ 3,275,308 Public safety 2,910,108 215,584 125,188 3,000,504 Public works 4,922,542 48,113 114,704 4,855,951 $ 11,052,601 327,652 248,490 $ 11,131,763 .. 1 1 1 1 1 1 GENERAL LONG -TERM DEBT SACCOUNT GROUP ITo account for the noncurrent portion of the Government's Bond Issue liabilities. 1 1 I 1 F 1 1 1 0 0 r--4 110 It °o ° O Z v U -, Q 00 O F o A a v "0 �rn7� w,� ° °,�` o w Q M M OBI Q) M 00 00 0° O N 75 O Zwa� o�Hz kft o zW Q) O Cn H 0 0 r--4 110 It °o °o 0000 00 O o wow �W"C7E -' v "0 v"o a ° ' � M M M OBI d' M 00 00 0° N N �a Zwa� o�Hz kft o zW Q) O H O O i 000 r-4 CD ' dil LO In ON In O cli Un 0" Q)ff LO O In In C7 N p 0 N O 0� C Ox� p •� r, O O O O O O O v - C7o00° °i rn C 0 •v Fr o °o 0 °o 0 ci OIN 00 v co 0 0 0 u ° 0 o - `O N O O M m o O ° Q" rte-+ M O O Lfi O w ° I'D �O U Oq° ER Efl cn c�C (A °o 0 oc�. rn 0 o 0 u co 0 0 r--4 Q) °Q) wow �W"C7E -' v "0 v"o a ° dpOp a 0 ° C7w > >z �� o� 0° �a Zwa� o�Hz 0 o zW Q) 0 0 r--4 1 1 1 1 1 F� COMPONENT UNIT Component Unit (Public Library Fund) - The Public Library Fund is used to account for the ' resources necessary to provide the educational, cultural, and recreational activities of the Deerfield Public Library. 1 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS Component Unit - Public Library Combining Balance Sheet April 30,1994 (with comparative totals for 1993) ASSETS Cash and investments Receivables - property taxes Due from primary government General fixed assets Total assets LIABILITIES AND FUND EQUITY Liabilities Accounts payable Due to primary government Deferred property taxes Total liabilities Fund equity Investment in general fixed assets Fund balance - unreserved Designated - capital improvements Undesignated Total liabilities and fund equity General Fixed General Asset Account Totals--------- - - -- Fund Group 1994 1993 $ 733,506 $ - $ 733,506 $ 831,085 880,888 - 880,888 854,206 7,690 - 7,690 4,959 - 1,326,909 1,326,909 1,046,232 1622 084 $ 1,326,909 L1,248 93 $ 2,736,482 $ 37,087 $ - $ 37,087 $ 45,745 4,685 - 4,685 - 997,401 - 997,401 944,194 1,039,173 - 1,039,173 989,939 1,326,909 1,326,909 1,046,232 350,000 - 350,000 550,000 232,911 - 232,911 150,311 582,911 1,326,909 1,909,820 1,746,543 $ 1,6221084 1326 909 $ 2,948,993 $ 2,736,482 See accompanying notes to financial statements. 101 VILLAGE OF DEERFIELD, ILLINOIS Component Unit - Public Library Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended April 30,1994 ---------------- 1994--------- - - - - -- Budget Actual Revenues Taxes Property taxes $ 997,401 Replacement taxes 16,000 Intergovernmental Grants 15,767 Charges for services Non - resident fees 16,000 Fees, fines, penalties 38,500 Reciprocal borrowing 2,000 Xerox 10,000 Videos 20,000 Interest 32,500 Miscellaneous Tax incremental finance district surplus property tax rebate - Gifts 500 Reserve for repairs and replacement 160,000 Total revenues 1,308,668 Expenditures Culture and recreation 1,508,668 Excess (deficiency) of revenues over expenditures $ (200,000) Fund balance May 1 April 30 $ 930,913 19,649 20,619 16,167 41,591 1,050 10,039 12,212 31,614 139,249 11,552 1,234,655 1993 Actual $ 861,656 16,544 16,461 17,502 41,076 1,531 10,955 24,157 32,128 118,751 1,201 -,- - -,- __ 1,352,055 1,099,435 (117,400) 700,311 $ 582,911 See accompanying notes to financial statements. 102 42,527 657,784 $ 700,311 VILLAGE OF DEERFIELD, ILLINOIS Component Unit - Public Library Schedule of Expenditures - Budget and Actual Year Ended April 30,1994 (with comparative totals for 1993) 103 Budget Actual Culture and recreation Salaries - professional $ 281,553 $ 273,552 Salaries - non - professional 412,890 382,134 Employee benefits 52,000 60,834 Professional services 51000 17,701 Education, travel and dues 81500 7,460 Communication 9,700 8,760 Insurance 17,400 14,139 Contractual services 20,000 19,270 Utilities 1,950 1,013 Repairs, maintenance of building and equipment building supplies 315,000 280,677 Supplies - library and office 19,000 21,316 Books 102,500 93,955 Periodicals 36,000 38,864 Audio-visual 20,000 22,046 Binding 2,500 2,464 Special library programs 5,400 8,496 Data base 2,000 790 New equipment 91000 7,968 Printing 8,000 8,982 Cataloging service 4,850 3,617 Miscellaneous 1,000 - Automation project 94,425. 73,860 Improvements - other than building 80,000 4,157 Total expenditures $ 1,508,668 $__1,252 055 103 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS Component Unit - Public Library General Fixed Assets Account Group Schedule of General Fixed Assets - by Source April 30,1994 GENERAL FIXED ASSETS Land $ 145,556 Buildings and improvements 761,216 Equipment 420,137 $ 1,326,909 INVESTMENT IN GENERAL FIXED ASSETS General Revenues $ 1,326,909 104 1 1 1 1 1 1 1 1 1 1 1 I 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS Illinois Municipal Retirement Fund Required Supplementary Information Analysis of Funding Progress April 30,1994 (6) (1) Unfunded Net Pension Assets Benefit Available (4) Obligation for Unfunded as a Benefits (2) (3) Pension (5) Percentage (Lower of Pension Percentage Benefit Annual of Covered Calendar Cost or Benefit Funded Obligation Covered Payroll Year Market ) Obligation (l)-.-(2) (2- 1 Payroll (4)--(5 1987 $1,851,900 $ 3,229,435 57.34% $1,377,535 $ 2,292,114 60.10% 1988 1,488,727 3,137,943 47.44 1,649,216 2,529,121 65.21 1989 1,770,910 3,489,507 50.75 1,718,597 2,636,443 65.19 1990 2,320,255 4,464,450 51.97 2,144,195 2,800,891 76.55 1991 2,916,035 4,709,444 61.92 1,793,409 2,990,934 59.96 1992 3,782,246 5,482,073 68.99 1,699,827 3,115,096 54.57 1993 4,437,725 6,231,398 71.22 1,793,673 3,349,867 53.54 (During the implementation transition period all information required is presented for as many years as is available.) Analysis of the dollar amounts of net assets available for benefits, pension benefit obligation, and unfunded pension benefit obligation in isolation can be misleading. Expressing the net assets available for benefits as a percentage of the pension benefit obligation provides one indication of funding status on a going- concern basis. Analysis of this percentage over time indicates whether the system is becoming financially stronger or weaker. Generally, the greater this percentage, the stronger the PERS. Trends in unfunded pension benefit obligation and annual covered payroll are both affected by inflation. Expressing the unfunded pension benefit obligation as a percentage of annual covered payroll approximately adjusts for the effects of inflation and aids analysis of progress made in accumulating sufficient assets to pay benefits when due. Generally, the smaller the percentage, the stronger the PERS. 105 VILLAGE OF DEERFIELD, ILLINOIS Police Pension Fund Required Supplementary Information Analysis of Funding Progress April 30,1994 (6) Unfunded (Assets in (1) Excess of) Net (4) Pension Assets Unfunded Benefit Available (Assets in Obligation for Excess of) as a Benefits (2) (3) Pension (5) Percentage (Lower of Pension Percentage Benefit Annual of Covered Fiscal Cost or Benefit Funded Obligation Covered Payroll Year Market ) Obligation (1)--(2) (2)-(1) Payroll (4)+(5 1988 $ 5,055,040 $ 4,290,531 118.00 $ (764,509) $1,237,594 (62.00)% 1989 5,692,830 4,823,277 118.00 (869,278) 1,380,114 (63.00) 1990 6,425,063 5,242,623 122.55 (1,182,440) 1,460,008 (80.99) 1991 7,494,864 6,309,081 118.79 (1,185,783) 1,565,933 (75.72) 1992 8,380,701 7,017,405 119.43 (1,363,296) 1,552,844 (87.79) 1993 9,274,684 8,394,887 110.48 (879,797) 1,767,665 (49.77) 1994 10,327,550 9,257,629 111.56 (1,069,921) 1,832,033 (58.40) (During the implementation transition period all information required is presented for as many years as is available.) Analysis of the dollar amounts of net assets available for benefits, pension benefit obligation, and unfunded pension benefit obligation in isolation can be misleading. Expressing the net assets available for benefits as a percentage of the pension benefit obligation provides one indication of funding status on a going- concern basis. Analysis of this percentage over time indicates whether the system is becoming financially stronger or weaker. Generally, the greater this percentage, the stronger the PERS. Trends in unfunded pension benefit obligation and annual covered payroll are both affected by inflation. Expressing the unfunded pension benefit obligation as a percentage of annual covered payroll approximately adjusts for the effects of inflation and aids analysis of progress made in accumulating sufficient assets to pay benefits when due. Generally, the smaller the percentage, the stronger the PERS. 106 ' VILLAGE OF DEERFIELD ILLINOIS Illinois Municipal Retirement Fund Required Supplementary Information ' Revenues by Source April 30,1994 t er Em to P Y Contributions ' as a -------------- - - - - -- Revenues by Source------------------ - - - - -- Percentage Calendar Employee Employer Investment of Covered ' Year Contributions Contributions Income Totals Pa roll 1984 $ 82,899 $ 127,571 N/A $ 210,470 8.30% 1985 89,372 151,116 N/A 240,488 8.30 ' 1986 95,745 167,152 N/A 262,897 8.27 1987 103,137 179,472 N/A 282,609 8.21 ' 1988 113,907 204,352 N/A 318,259 8.08 t1989 118,539 266,280 N/A 384,819 10.10 1990 126,040 329,945 N/A 455,985 11.78 1991 134,592 372,669 N/A 507,261 12.46 ' 1992 1401232 399,043 N/A 539,275 12.81 1993 150,744 385,905 N/A 536,649 11.52 1 N/A - not applicable t 107 VILLAGE OF DEERFIELD, ILLINOIS Police Pension Fund Required Supplementary Information Revenues by Source and Expenses by Type April 30,1994 108 1 1 - _�_- __- ____ - -- Expenses by Employer Administrative Administrative Year Contributions Expgnses Refunds Totals 1985 $ 65,912 as a $ 10,873 -------------- --- Revenues b, Sy ource--------------- - - - - -- Percentage Fiscal Employee Employer Investment 99 of Covered Year Contributions Contributions Income Totals Payroll 1985 $ 86,623 $ 156,125 $ 315,417 $ 558,165 14.53% 1986 97,525 173,723 361,378 632,626 14.52 1987 99,923 180,434 458,868 739,225 15.08 1988 107,902 150,024 473,397 731,323 12.08 1989 83,619 155,430 488,746 727,795 11.26 1990 127,777 160,461 562,558 850,796 11.00 1991 136,638 155,284 772,839 1,064,761 9.92 1992 139,756 166,382 809,346 1,115,484 10.71 1993 160,894 180,787 789,704 1,131,385 10.23 1994 164,883 195,933 987,515 1,348,331 10.69 108 1 1 - _�_- __- ____ - -- Expenses by Fiscal Administrative Administrative Year Benefits Expgnses Refunds Totals 1985 $ 65,912 $ 25 $ 10,873 $ 76,810 1986 66,736 937 1,137 68,810 1987 83,885 99 17,050 101,034 1988 87,859 53 - 87,912 1989 88,660 1,620 - 90,280 1990 117,720 568 - 118,288 1991 154,844 585 - 155,429 1992 216,190 1,019 12,438 229,647 1993 234,872 2,530 - 237,402 1994 290,772 1,189 3,504 295,465 108 1 1 VILLAGE OF DEERFIELD, ILLINOIS Schedule of Insurance in Force April 30,1994 Insureds Description of Coverage Amount of Coverage Village of Deerfield Workers' Compensation Statutory/ $ 30,000,000 Village of Deerfield Comprehensive Automobile Liability Bodily Injury and Property $1,000,000 Village of Deerfield General Liability $1,000,000 Village of Deerfield Blanket Building and Contents $ 30,000,000 Village of Deerfield Boiler and Machinery $10,000 Public Officials Blanket Bond Coverage $10,000/ $1,000,000 Village of Deerfield Excess Coverage $ 5,000,000 The Village of Deerfield is a member of the Municipal Insurance Cooperative Agency. Property, automobile liability, general liability, and workers' compensation are provided under the Agency. The Village of Deerfield is also a member of the High -Level Excess Liability Pool. Excess liability coverage is provided under this agency. 109 Date of Issue Date of Maturity Authorized Issue Actual Issue Denomination of Bonds Interest Rates Principal Maturity Date Interest Dates Payable at VILLAGE OF DEERFIELD, ILLINOIS Long -Term Debt Requirements ' Corporate Purpose Bond Series of 1986 April 30, 1994 ' May 1, 1986 January 1, 2005 $11,000,000 $11,000,000 5,000 6.4%-7.75% January 1 July 1 and January 1 American National Bank and Trust Company of Chicago CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS Tax Amount Jan. 1 Amount 1994 $ 53,717 1995 $ 53,717 1995 Levy Bond ---- ---------- - -_Tax 15,809 - Year Numbers Numbers Principal Interest Totals 1993 0512 -0620 $ 545,000 $ 107,434 $ 652,434 1994 0621 -0736 580,000 68,739 648,739 1995 0737 -0765 480,000 15,809 495,809 $ 1,605,000 $ 191,982 $ 1,796,982 ------ - - - - -- Interest Due On------- - - - - -- July 1 Amount Jan. 1 Amount 1994 $ 53,717 1995 $ 53,717 1995 34,369 1996 34,370 1996 15,809 - $ 103,895 $ 88,087 Bonds numbered 766 to 2200 ($6,840,000) were in substance defeased with the issuance of the General Obligation Refunding Bond Series of 1993 and will be called on July 1, 1996 at 102% of par value. See Note 8. 110 1 1 1 1 L' I 1 1 1 El 1 1 11 1 1 Date of Issue Date of Maturity Authorized Issue Actual Issue Denomination of Bonds Interest Rates Interest Dates Payable at VILLAGE OF DEERFIELD, ILLINOIS Long -Term Debt Requirements Corporate Purpose Bond Series of 1987 April 30,1994 October 8, 1987 October 8, 2002 $10,000,000 $10,000,000 5,000 8.4%-8.5% April 8 and October 8 Marine National Bank CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS Tax Levy Bond- -- Year Numbers Principal Interest Totals Apri18 1992 $ - $ 421,500 $ 421,500 1994 1993 - 843,000 843,000 1995 1994 - 843,000 843,000 1996 1995 - 843,000 843,000 1997 1996 - 843,000 843,000 1998 1997 - 843,000 843,000 1999 1998 - 843,000 843,000 2000 1999 0001 -1400 7,000,000 843,000 7,843,000 2001 2000 1401 -2000 3,000,000 255,000 3,255,000 2002 $ 10,000,000 $ 6577,500 $ 16,577,500 -- Interest Due On-- Amount Oct.8 Amount $ - 1994 421,500 1995 421,500 1996 421,500 1997 421,500 1998 421,500 1999 421,500 2000 421,500 2001 127,500 2002 $ 3,078,000 $ 421,500 421,500 421,500 421,500 421,500 421,500 421,500 421,500 127,500 3,499,500 When these bonds were issued, $10,000,000 of the proceeds were used to purchase Dade County Aviation Bonds to provide for the principal and interest payments on these bonds. See Note 8. 111 Date of Issue Date of Maturity Authorized Issue Denomination of Bonds Interest Rates Interest Dates Payable at Tax VILLAGE OF DEERFIELD, ILLINOIS Long -Term Debt Requirements ' Corporate Obligation Bond Series of 1988 April 30,1994 , November 1, 1988 January 1, 2004 $3,000,000 5,000 6.50%,6.60%,6.70% - 6.75 %, 6.80% 6.90 %, and 8.0% July 1 and January 1 American National Bank and Trust Company of Chicago CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS Levy Bond -----Tax Levy------ - Year Numbers Principal Interest Totals 1993 136 -170 $ 175,000 $ 22,750 $ 197,750 1994 171 -205 175,000 11,376 186,376 $ 350,000 $ 34,126 $ 384,126 - - - - -- Interest Due On--------------- uL 1 1 Amount Jan.1 Amount 1994 $ 11,375 1995 $ 11,375 1995 5,688 1996 5,688 $ 17,063 $ 17,063 Bonds numbered 206 - 600 ($1,975,000) were in substance defeased with the issuance of the General Obligation Refunding Bond Series of 1993 and will be called on January 1, 1996 at 101.5% of par value. See Note 8. 112 1 1 1 I 1 1 1 1 1 1 1 1 1 L 1 1 Date of Issue Date of Maturity Authorized Issue Denomination of Bonds Interest Rates Interest Dates Principal Maturity Date Payable at *Tax VILLAGE OF DEERFIELD, ILLINOIS Long -Term Debt Requirements General Obligation Bond Series of 1991 April 30,1994 July 1, 1991 January 1, 1997 $1,500,000 5,000 5.20-5.80% July 1 and January 1 January 1 American National Bank and Trust Company of Chicago CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS Levy Bond --- - ----- -Tax Lew----------- - - - - -- ---- - - - - -- Interest Due On---- - - - - -- Year Numbers Principal Interest Totals uly 1 Amount Jan. 1 Amount 1993 121 -180 $ 300,000 $ 51,300 $ 351,300 1994 $ 25,650 1995 $ 25,650 1994 181 - 240 300,000 34,500 334,500 1995 17,250 1996 17,250 1995 241- 300 300,000 17,400 317,400 1996 8,700 1997 8,700 $ 900,000 $ 103,200 $ 1,003,200 $ 51,600 51,600 * The government abates the tax levy on this bond issue annually. The debt is being retired with transfer from Tax Incremental Finance District 2 Fund. 113 Date of Issue Date of Maturity Authorized Issue Denomination of Bonds Interest Rates Principal Maturity Date Interest Dates Payable at VILLAGE OF DEERFIELD, ILLINOIS Long -Term Debt Requirements , Corporate Purpose Bond Series of 1982 April 30, 1994 ' October 1, 1982 December 1, 1994 $500,000 5,000 9.60% - 10.25% December 1 June 1 and December 1 The Northern Trust Company CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS *Tax Levy Bond --------- - - - - -- -Tax Levy---------- - - - - -- ------- - - - - -- Interest Due On------- - - - - -- Year Numbers Principal Interest Totals June 1 Amount Dec.1 Amount 1993 086 -100 $ 75,000 $ 7200 , $ 82,200 1994 $ 3,600 1994 3,600 * The government abates the tax levy on this bond issue annually. The debt is being retired with transfers from the Tax Incremental Finance District 1 Fund. 114 VILLAGE OF DEERFIELD, ILLINOIS ' Long -Term Debt Requirements General Obligation Refunding Bond Series of 1993 ' April 30,1994 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 Date of Issue Date of Maturity Authorized Issue Denomination of Bonds Interest Rates Interest Dates Payable at May 1, 1993 December 15, 2004 $9,995,000 5,000 3.90%,4.00%, and 4.10% June 15 and December 15 American National Bank and Trust Company of Chicago CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS Tax Amount Dec 15 Amount 1994 Levy Bond ------Tax Levv - - - - -- Year Numbers Principal Interest Totals 1993 56 -83 $ 135,000 $ 397,280 $ 532,280 1994 84 -112 140,000 392,015 532,015 1995 113 -210 485,000 386,555 871,555 1996 211 -411 1,000,000 367,155 1,367,155 1997 412 -622 1,050,000 326,155 1,376,155 1998 623 -839 1,080,000 283,105 1,363,105 1999 840 -1056 1,130,000 238,825 1,368,825 2000 1057 -1294 1,185,000 192,495 1,377,495 2001 1295 -1543 1,240,000 143,910 1,383,910 2002 1544 -1797 1,265,000 93,070 1,358,070 2003 1798 -1999 1,005,000 41,205 1,046,205 $ 9,715,000 $ 2,861,770 $ 12,576,770 115 Interest Due On June 15 Amount Dec 15 Amount 1994 $ 198,640 1994 $ 198,640 1995 196,007 1995 196,008 1996 193,278 1996 193,277 1997 183,577 1997 183,578 1998 163,078 1998 163,077 1999 141,552 1999 141,553 2000 119,413 2000 119,412 2001 96,247 2001 96,248 2002 71,955 2002 71,955 2003 46,535 2003 46,535 2004 20,603 2004 20,602 $ 1,430,885 $ 1,430,885 1 1 1 1 1 1 1 1 1 1 1 C 1 °z A �W W W W Q w W 4J U O rh ON v R! u two F Q O u IR v u O 1 N O 'o N m � L a0 N to cf) N 00 0000 O� O 00 ON c,R O V m LO n m Cf)l I I m 0 00 00 ,�-4 N � � en N \o z � O EA o z N C\ N m C4 NI �D cn M �O ,--� N � n 0 � N 00 N O eOn � 00 00 O z ~ 000 O� ao O N t Cf) c O 00 \0 N 00 .-+ N L, 00 N Cl) CY) c~f n \0 N N O 00 C14 t-S 0 g 00 cn � N LO ON Lq Ea rosil cf) tf) N N N * h 0 n 00 4 M n M N NO n � L6 06 fA % aD CT z n O LO N N 00 .-+ O l� L� O dZ N orol " m ch N N 000 1Lf tf K d4 N d� NO n * � � 00 n z z 00 N LO 00 cn LO A Fri N Lr) N En N ON N L * T" m 00 ch CT O Lr cfz O 00 rq Lo � N n � qt \D Eo� 6s 00 00 00 00 N 00 0 N I * 00 n Lol 00 ,a\� 000 L M Ea w O O i" Q) D m O O v tv O1 O O w O .r LL ro O i A W a v O O U vi w a, fl v Q .O G (U t P4 7; 0) C4 to Fr O G OJ 01 .O W �i O1 w O m ,a w O OD cC rd 0.14 O z a a A a W w w W Q W O a a O v 5 !� O, W G% Ea 01 O v v Av m d+ LO N O N Cl; n O 00 00 n 00 N z N N ' ri to Efl 6R ' z M N c0 rnn cn to 011 011 cm a0 O's N z eM � O 0 00 % N ER Efl N 00 N Z LO 9 ,-4 to � O O � O m 10 00 eN� n oC7-1 00 � L O� L L O Efl EA ' N N o t� N � N to Lt N N 00 00 00 N r ON z Ln O z N N N 1-4 In I.. 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O Q x 0 V ) 00 ON w H + Q v, cu > VILLAGE OF DEERFIELD, ILLINOIS Property Tax Assessed Valuations, Rates, Extensions, and Collections Last Ten Fiscal Years April 30,1994 1 1 1 1 (See Following Page) 1 1 1 1 1 1 L 1 1 0 V Gl 0 U zz b V X w w �U� WGL,M W O 0 w v >a Q) H i Q) 0 4 a+ ' O O O ON O O O LO CCf) �a, � m 00 O l() O N In en O� i e}i r d+ tn o O n c 11 i t LO Ob 00 QQ;; ti M to 00I Efl Ef3 EA n to t ' Cn 00 O N ' O,� O,� O O rte-+ O CCn te r-+ ON i Ri O O O O O O O O O i Z 00 O N ' 1n Cn 00 d' en N *+ N N O z C00n 0V 00 c~ 000 z ' m O KNi pp �O n ~ C r�-i rN-4 N z N Cn eQ`n r. er rti ri N [� t rz Cn Cn m I C �3 t4 fA A ' cn v �8 NN pppp op fn 0 0 O " N O r-i Can) r-� O O f� 00 0 00 0 Ooo rti N cn O O O N ' en C N m 00 00 r G N O N " Cn eM 00 00 N z Lr) N o Lr) Cn O r-4 r-4 O O\ O ON ' 00 O ~ N " 0C C14, r-4 00 en Om O i N •' fn z N Cn r -+ cn �O Cn Cn mI Cli 1 N 0 N 0O 0 �r-i i 11 ol� r-4 00 O O N - d' r� O N ' i O O O O O O O O O i ++ O N 1 N � z g d' N O� N r-i ONO N N \O N g O z CV N 00 O 00 In 00 N teo� N r� Lf) d' ~ z N N Cf) i rr-4 r�-I to Cc) LO 0 Q r; m Cn a\I C N * n d' cn 00 00 O ' N \O N fA O i OC N O ti O i f1i O O O 0 0 O O O O r-4 ) m O I n O O 00 %0 a! L (3 N 0o u! O t N� " �N N LO cf)r-+ �D i 00 Q C14 eq ER ffl fR N r cn i I Cn N r- ' N r-i N d' N O r� N rte-! O O R�, O C 0 O 0 0 C V � O � LL w O1 u -. cu 0 i0 u Q) T3 v 0 •" ai o. u v Q. W a�i � v o v tt v ��. +. p E-+ H U * * G 8 It LO a O L" 0 o O N `O O M o Ln * , 00 j `R W °o o u) cf) �o r�o , c� O O o0 0 000 0 � � 8 O t M N ll� LO N N m i Iq C� In r l � Cl i d! ' N 0 Ln n A n '"D 'D ° N O Ny" Q� Cn l� N l� N r-+ ' QQii ri , * ef) rti 00 Cl N z rf) �D O�O O C14 r-4 N R+ O O O O O O O O O i M 00 LO z N z d� � 00 � N � pn t" cp�� N �OOG N ' 00 O A M n 8 N o n + ~ 00 cn �O cn l� O O �I Cf) , NO O O N" O N RC O O 0 0 O O O O O , i G 1 ONO r�-i � 8' lO In n n N O 0°0 en co ONO U N 00 m �o N 1-i to to rti r--4 O 00 M fn N r~ m O O '"O N rti NCO 00 00 , �-, 0 6 0 6 6 0 6 0 6 en ONO m m �N 1 N in C\ M N ' O c�I O O\NA ON v°j O + 00 cri LO Lq Z r-i O O� 0 +' 000 Cf) Q EA H? (A to til 0 , C4 o v Efl r O O M° 0�0 N� is IN m P4 O O C 0 O 0 0 0 O i w O 8 fA O x aJ � OJ M O �: cu ft cu to O Gy v� O O O H E- U R, * Q 00 r-4 r- q Tax Levy Year 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 VILLAGE OF DEERFIELD, ILLINOIS Assessed and Estimated Actual Value of Taxable Property Last Ten Fiscal Years April 30,1994 _- __ -_ - -_ -Real Property Equalized Estimated Assessed Actual Value Value Office of the County Clerk 245,838,523 249,350,557 279,386,218 314,987,029 377,208,775 428,039,204 489,019,552 522,438,968 547,603,297 570,794,665 $ 738,000,000 748,000,000 839,000,000 945,000,000 1,131,000,000 1,284,000,000 1,467,000,000 1,567,000,000 1,643,000,000 1,712,000,000 119 Ratio of Total Assessed Value to Total Estimated Actual Value 33.3 33.3 33.3 33.3 33.3 33.3 33.3 33.3 33.3 33.3 oMmNl� ti Nd�0., 0\ N tt N00N N [� ri NNNcriri O L� O " V) �O lf) O N N rr-4 00000 C O NcV O C ' N \.O M N" \�O \O O to N N O rq ON N N O N fn O\ ri 00 to \D N r" N 0 Lo ln\0 Ln O 0N00N N Qi OGoOC C O cVtVr+0 O 1 ~ 00 m \m ~ 10 r-4 O 00 4 1 d� 0000 O C CV CV -O N O 0 �-+ N r q 00 ON N N ('n r-4 00 t' toNzO\N ri NLO mN N a\ 00 O Iq In 10 d! O rr-4 C7\ r-I � M N GCC06 O C fVNr4 G O co +�+ 00 �N M0*1 NMNIn O C�O�D�OZ d! O r Mr•�N N ' �I 0 0 0 0 0 O C N N N o O 0 (� O �OzzN d! S McOrMN N ON 00 z 0 0 0 0 0 O O N N N O O W •� c0 eO O Lf) ON 00 rti 00 rti (U cl) rti z O O rr N m u) O a Cl �i� ON OO n d! O �'ITCi c7 rti r- 0000 O O NfV fV O O W u 000NrtiO O Opp OIn rti �I NOn 8 �� m r~ rti OOOO O C NNN O O ' d r - iMZON N C\ Nr~ZO\ N eM �d � tf) f) O " N rti -1 tti M D G aO p! O cf) N C7 x 0000 O C NCV NC O L' a L r� N I n�M+C\ lfi r•4 CON O O d\.O o LO %O cn N O�4 r40000 O C CVNN O O "C3 v G w y O ' u 4 :3 00 - N .. ac cn m a u o u cu w -x o c�' y O 0 TS " 'G u Q O O .0 O 4 >' `@i v ,O VO n x 4t Q) � 00 0 G0 � O w O 0 0 N ri N \D O 0000 .�-i 0 a! M +t+ del 19 M t, - \O 4 R O N I t�A tC (U V to O �D a vQ ~ Q b H to W p CA V W .° k+ _M W 040 �l ER y r4J V r� zZ 0 0 t\ O N \D O 0000 .�-i 0 a! M del 19 M t, - \O 4 R O N I d t, `° to to O �D (V cV r-i rr '- M ER 0 t\ M M N co O O M N 0\ 0000 M O %O t, 9 N N .-4 I" � N O 0 M N I C M N p�� N � tV N N V N r+ N In ER OZ N Ul O C \.O ..yy�� N \° 0 ON �Ias o t\ N 4 L 0000 N ep� o Ln 00 ti M N O �I O M � O \ N cli N 4 ti b w O LO In O O 00 C\ O n G ro 00 O N M ti .t,+ N O O In ON Ct M N •~-� ~ CC V G O N O CD 'a 00 A �o O V b op 14 O 00 00 O M N ti M 001 u O� U NN N w w Cl) � O 00 0 +. w O U) C14 00 O (7� O M �o w ON r-4 � rZ r- 00 O %0 O G y 1 N E� _ to L1. O L CD Cl) �O ti O j Q �I 0 n N ��+ N r-4 '" r ° a C14 0 O � O � � o 00 go G R% ti � ° c�° o C 06 cv c00 0 O d N tl ti � � v R t0 01 a v U v o v, TS p v ti O v b O o Oo .. w O v qj m �i A Q O p O �i p O 00 w o .. w u s° z A° z o N VILLAGE OF DEERFIELD, ILLINOIS ' Schedule of Direct and Overlapping Bonded Debt April 30,1994 1 1 1 Total gross debt less available amount $ 2,718,563,118 $ 26,523,244 * - Determined by ratio of assessed value of property subject to taxation in overlapping unit to value of property subject to taxation. ** - Amount in column (2) multiplied by amount in column (1). Data Source Office of the County Clerk 122 (2) * Percentage of Debt 1 (1) Gross Applicable to ** Government's Governmental Unit Bonded Debt Government Share of Debt ' Village of Deerfield $ 22,645,000 100.000% $ 22,645,000 Metropolitan Sanitary District 1,041,050,000 .101 1,051,461 Lake County and Forest Preserve 124,520,617 4.490 5,590,976 Cook County and Cook County Forest Preserve 1,464,670,000 .099 1,450,023 North Shore Sanitary District 19,829,986 .025 4,958 Deerfield Park District 1,455,000 97.083 1,412,558 Northbrook Park District 10,975,000 3.140 344,615 Deerfield School District #109 3,525,000 71.113 2,506,733 Highland Park Elementary #112 2,700,000 3.685 99,495 Township High School #113 1,845,000 27.257 502,892 Junior College #532 28,345,000 7.870 2,230,752 Oakton Community College #535 8,050,000 .635 51,118 Lake County Special Service Area #5 520,000 38.490 200,148 ' Total gross debt 2,730,130,603 38,090,729 Less debt service and expendable trust funds amount available - Village of Deerfield 11,567,485 11,567,485 1 1 1 Total gross debt less available amount $ 2,718,563,118 $ 26,523,244 * - Determined by ratio of assessed value of property subject to taxation in overlapping unit to value of property subject to taxation. ** - Amount in column (2) multiplied by amount in column (1). Data Source Office of the County Clerk 122 VILLAGE OF DEERFIELD, ILLINOIS Schedule of Legal Debt Margin April 30, 1994 The Government is a home rule municipality. Chapter 65, Section 5/8 -5-1 of the Illinois Compiled Statutes governs computation of the legal debt margin. "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 500,000 an aggregate of one per cent:... 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 amounts:' To date the General Assembly has set no limits for home rule municipalities. Illustrative Computation of Debt Margin if Government Were Not a Home Rule Municipality The Government is a home rule municipality and as such has no debt limitations. If, however, the Government were a non -home rule municipality its available debt limit would be as follows: Equalized assessed valuation -1993 $ 570,794,665 Legal debt limit - 8.625 49,231,057 Amount of debt applicable to limit Corporate Purpose Bond Series 1982 $ 75,000 Corporate Purpose Bond Series 1986 1,605,000 Corporate Purpose Bond Series 1987 10,000,000 General Obligation Bond Series 1988 350,000 General Obligation Bond Series 1991 900,000 General Obligation Refunding Bond Series 1993 9,715,000 Total 22,645,000 Available funds 11,567,485 11,077,515 Legal debt margin $ 38,153,542 The Government has available funds in the Debt Service and Expendable Trust Funds in the amount of $11,567,485. 123 1 1 1 1 1 1 1 1 i 1 1 1 1 1 1 1 1 1 1 1 9) w u 0 O G4 N r-4 v A 0 0 DD b0 o00 O a N Z O� a, a U x 1 A v a� O O W wi y v 040 �4 A x a O u Q) 1 C1 E� o � O I m O O all 9) w u 0 O G4 N r-4 0 DD o00 tr) N n O� � O r-+ o I m all C6 N � rri N In N C ER 0- o n �p z � n m N O� O� O N m �p m S Q` O O N ON c� 00 Lr) ON 00 0 o N ao 0 O c+� 1.0 `O to L r' 00 U 6s .. o � `o 0 0 T LO us O o O O oo g a Cfl '- o 00 m � I N m ,�� O V d) o G Lq LO 00 0 m m 00 O u N tl .0 ~ En O (n O " N C LO 00 a� a -IOU A �p 00 m C LO z 00 r, fA a; O 0 p rm� 0p 00 I! i ) 00 z N N O r. (d N O � v a p u) w O1 p �, cC 3 cu v v �o C7 � a w'+ > .. 10 u v bOA� p Oo G O G G 'O s u ooa. a� -a.r.a. s. N oo v z v oo v o0 ,. 9) w u 0 O G4 N r-4 Fiscal Year 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 Data Sources VILLAGE OF DEERFIELD, ILLINOIS Demographic Statistics Last Ten Fiscal Years April 30, 1994 (3) Percentage of People Over 25 Years of Age With Four or More Years of College 50.8% 51.0 51.1 51.3 51.5 51.8 48.8 48.3 58.8 59.6 (2) (4) Unemploy- Per (2) (1) Household Median Population Income Age 17,500 $ 45,400 36.1 17,500 46,100 36.5 17,500 47,500 36.8 17,500 48,100 37.2 17,500 50,900 37.4 17,500 53,600 37.5 17,327 55,000 37.7 17,327 71,966 36.3 17,327 70,046 36.3 17,327 78,830 35.9 (3) Percentage of People Over 25 Years of Age With Four or More Years of College 50.8% 51.0 51.1 51.3 51.5 51.8 48.8 48.3 58.8 59.6 (1) 1985 -1994 were derived from data from the Department of Commerce and Community Affairs (2) Bureau of the Census (3) Percentage of people over 25 years of age or over with 4 or more years of College education. Northeastern Illinois Planning Commission (4) Enrollment figures derived from combined enrollment of District 109 (grade school), and District 113 (high school) (5) Unemployment figures based on 1/4 of Lake County figures 125 1 1 (5) (4) Unemploy- School ment Enrollment Percentage 3,703 2.0% 3,715 1.7 3,602 1.3 3,276 1.1 3,238 0.9 3,106 1.0 3,277 1.0 3,251 1.2 3,410 1.3 3,462 1.1 (1) 1985 -1994 were derived from data from the Department of Commerce and Community Affairs (2) Bureau of the Census (3) Percentage of people over 25 years of age or over with 4 or more years of College education. Northeastern Illinois Planning Commission (4) Enrollment figures derived from combined enrollment of District 109 (grade school), and District 113 (high school) (5) Unemployment figures based on 1/4 of Lake County figures 125 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS Property Value, Construction, and Bank Deposits Last Ten Fiscal Years April 30,1994 ' (1) (1) Commercial Residential (3) - - -- Construction - - -- - - - -- Construction -- - - -- (2) Total ' Fiscal Number Number Bank Property Year of Units Value of Units Value Deposits Value ' 1985 101 $ 34,504,614 50 $ 6,552,552 $ 64,750,000 $ 738,000,000 1986 135 37,746,399 90 11,318,142 130,155,000 748,000,000 1987 79 44,287,589 86 8,089,179 141,241,000 839,000,000 1 1988 110 21,705,751 51 5,489,656 149,182,000 945,000,000 1989 222 75,592,000 72 12,463,000 163,472,790 1,131,000,000 1990 150 33,113,366 77 12,085,690 187,961,000 1,284,000,000 1991 89 16,908,426 21 3,836,605 230,405,569 1,467,000,000 1992 497 10,639,343 256 8,922,854 114,301,809 1,567,000,000 1993 114 14,582,113 49 8,575,000 339,627,000 1,643,000,000 1994 103 6,525,766 25 4,552,000 134,200,800 1,712,000,000 Data Sources (1) Construction figures - Village of Deerfield, Building and Zoning Department (2) Bank Deposits were based on commercial bank deposits (3) Estimated historical cost data provided by Township's Assessors Office 1 1 1 126 Taxpayers Stein and Company VMC, Inc. Baxter International Matas Corporation Travenol Labs Walsh Higgins and Company Arbor Lake Center Deerfield - Saunders joint Venture American National Bank & Trust Marriott Corporation Data Source Office of the County Clerk VILLAGE OF DEERFIELD, ILLINOIS Principal Taxpayers April 30,1994 Percentage 127 1993 of Total Assessed Assessed Type of Business Valuation Valuation Lake Cook Office Center $ 26,204,431 4.59% Deerbrook Shopping Center 21,007,507 3.68 Office Buildings 20,633,422 3.61 Corporate 500 Center 20,343,300 3.56 Office Buildings 14,718,822 2.58 Tollway North Office Park 14,415,382 2.53 Office Building 14,081,861 2.47 Parkway North Office Building 9,798,425 1.72 Parkway North 7,977,130 1.40 Hotels 7,233,180 1.27 $ 156,413,460 27.41% 127 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS Miscellaneous Statistics April 30, 1994 Date of Incorporation 1903 Form of Government Manager /Council Geographic Location North Suburban Population 140 1960 11,748 1970 18,876 1980 17,430 1990 17,327 Municipal Services & Facilities Number of Full -Time Employees 99 Miles of Streets 70 Miles of Alleys 4 Miles of Sewers 140 Building Inspection Number of Permits Issued in fiscal year 1994 892 Fire Protection District Number of Firefighters and Officers 31 Number of Stations 1 (Continued) 128 VILLAGE OF DEERFIELD, ILLINOIS Miscellaneous Statistics April 30,1994 Police Protection Number of Stations 1 Number of Policemen and Officers 38 Library Services Number of Branch Libraries 1 Number of Books 150,000 Recreation Facilities Number of Parks and Playgrounds 20 Park Area in Acres 288 Municipal Water Utility Population Serviced 5,797 Average Daily Pumpage 2,734,000 gals. Miles of Water Mains 76 Data Source Village Records 129