Village CAFR For Year Ended April 30, 19914w-
COMP REHEN SIVE
ANNUAI • for the year ended
FINANCIA'A Api; 1 30, �r�n�
REPOR'1'
M '�'Y
1835
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LADE OF DEEPELD, ILLINOIS
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COMPREHENSIVE
ANNUAL
FINANCIAL R
EPORT
FOR THE
FISCAL YEAR ENDED
APRIL 309. 1.991
PREPARED BY
GEORGE J: VALENTINE
FINANCE DIRECTOR
VILLAGE OF DEERFIELD, ILLINOIS
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TABLE OF CONTENTS
PAGE
INTRODUCTORY SECTION
Principal Officials i
Organization Chart
Certificate of Achievement for Excellence in
Financial Reporting
Letter of Transmittal iv -xi
FINANCIAL SECTION
INDEPENDENT AUDITOR'S REPORT
1 -2
GENERAL PURPOSE FINANCIAL STATEMENTS
Combined Balance Sheet - All Fund Types
and Account Groups
3
Combined Statement of Revenues, Expenditures,
and Changes in Fund Balances - All Governmental
and Fiduciary (Expendable Trust) Fund Types
4
Combined Statement of Revenues, Expenditures, and
Changes in Fund Balances - Budget and Actual -
General, Special Revenue, and Debt Service Fund
Types
5
Combined Statement of Revenues, Expenses, and
Changes in Retained Earnings - Unreserved /Fund Balances - All
Proprietary and Fiduciary (Pension Trust) Fund Types
6
Combined Statement of Cash Flows -
All Proprietary Fund Types
7
Notes to the Financial Statements
8 -46
TABLE OF CONTENTS (CONT.)
FINANCIAL SECTION (CONT.)
PAGE
COMBINING, INDIVIDUAL FUND, AND ACCOUNT GROUP
STATEMENTS AND SCHEDULES
GOVERNMENTAL FUND TYPES
GENERAL FUND
53
General Fund
Financial Statements
54
Balance Sheet
47
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual
48
Supplemental Schedules
55
Schedule of Revenues - Budget and Actual
49
Schedule of Expenditures - Budget and Actual
50 -52
SPECIAL REVENUE FUNDS
All Funds
Financial Statements
Combining Balance Sheet
53
Combining Statement of Revenues, Expenditures,
and Changes in Fund Balances
54
Municipal Audit Fund
Financial Statements
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual
55
Emergency Services /Disaster Fund
Financial Statements
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual
56
Youth Bound Fund
Financial Statements
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual
57
1
ITABLE OF CONTENTS (CONT.)
1
FINANCIAL SECTION (CONT.)
GOVERNMENTAL FUND TYPES (CONT.)
SPECIAL REVENUE FUNDS (CONT.)
1 Library Fund
' Financial Statements
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual
' Supplemental Schedules
Schedule of Expenditures - Budget and Actual
Street and Bridge Fund
Financial Statements
' Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual
Supplemental Schedules
' Schedule of Expenditures - Budget and Actual
Illinois Municipal Retirement Fund
' Financial Statements
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual
Public Benefit Fund
' Financial Statements
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual
Motor Fuel Tax Fund
Financial Statements
' Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual
Transportation Fund
Financial Statements
' Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual
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58
59
60
61 -64
65
66
67
TABLE OF CONTENTS (CONT.)
FINANCIAL SECTION (CONT.)
GOVERNMENTAL FUND TYPES (CONT.)
SPECIAL REVENUE FUNDS (CONT.)
Enhanced 911 Fund
Financial Statements
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual
DEBT SERVICE FUND
Debt Service Fund
Financial Statements
Balance Sheet
Statement of Revenues, Expenditures,
and Changes in Fund Balance - Budget and Actual
Supplemental Schedules
Schedule of Expenditures - Budget and Actual
CAPITAL PROJECTS FUNDS
All Funds
Financial Statements
Combining Balance Sheet
Combining Statement of Revenues, Expenditures,
and Changes in Fund Balances
PROPRIETARY FUND TYPES
ENTERPRISE FUNDS
All Funds
Financial Statements
Combining Balance Sheet
Combining Statement of Revenues, Expenses, and
Changes in Retained Earnings - Unreserved
Combining Statement of Cash Flows
rA
PAGE
69
70
71
72
73
74
75
76
77
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TABLE OF CONTENTS (CONT.)
1
PAGE
FINANCIAL SECTION (CONT.)
tPROPRIETARY
FUND TYPES (CONT.)
ENTERPRISE FUNDS (CONT.)
'
Water Fund
Financial Statements
Balance Sheet
78
Statement of Revenues, Expenses, and Changes in
Retained Earnings - Unreserved - Budget and Actual
79
Supplemental Schedules
Schedule of Operating Expenses - Budget and Actual.
80 -81
'
Schedule of Fixed Assets and Depreciation
82
Sewerage Fund
'
Financial Statements
Balance Sheet
83
Statement of Revenues, Expenses, and Changes in
'
Retained Earnings - Unreserved - Budget and Actual
84
Supplemental Schedules
Schedule of Operating Expenses - Budget and Actual
85 -87
'
Schedule of Fixed Assets and Depreciation
88
Refuse Fund -
Financial Statements
Balance Sheet
89
'
Statement of Revenues, Expenses, and Changes in
Retained Earnings - Unreserved - Budget and Actual
90
Commuter Parking Lot Fund
Financial Statements
Balance Sheet
Statement of Revenues, Expenses, and Changes in
91
Retained Earnings - Unreserved - Budget and Actual
92
Supplemental Schedules
Schedule of Operating Expenses - Budget and Actual
93
Schedule of Fixed Assets and Depreciation
94
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TABLE OF CONTENTS (CONT.)
PAGE
FINANCIAL SECTION (CONT.)
PROPRIETARY FUND TYPES (CONT.)
INTERNAL SERVICE FUND
Garage Fund
Financial Statements
Balance Sheet 95
Statement of Revenues, Expenses, and
Changes in Retained Earnings - Budget and Actual 96
Statement of Cash Flows 97
Supplemental Schedules
Schedule of Operating Expenses - Budget and Actual 98
FIDUCIARY FUND TYPES
TRUST AND AGENCY FUNDS
All Funds
Financial Statements
Combining Balance Sheet 99
Statement of Revenues, Expenditures, and Changes
in Fund Balance (Expendable Trust Fund) 100
Statement of Revenues, Expenses, and Changes in
Fund Balance - Budget and Actual (Pension Trust Fund) 101
Combining Statement of Changes in Assets and Liabilities
(Agency Funds) 102 -103
ACCOUNT GROUPS
GENERAL FIXED ASSETS ACCOUNT GROUP
Supplemental Schedules
Schedule of General Fixed Assets - By Source 104
Schedule of General Fixed Assets - By Function
and Activity 105
Schedule of Changes in General Fixed Assets -
By Function and Activity 106
GENERAL LONG -TERM DEBT ACCOUNT GROUP
Supplemental Schedules
Schedule of General Long -Term Debt 107
�I
1 TABLE OF CONTENTS (CONT.)
1 PAGE FINANCIAL SECTION (CONT.)
'
SUPPLEMENTAL DATA
Required Supplementary Information
Analysis of Funding Progress
'
Illinois Municipal Retirement Fund
108
Police Pension Fund
109
Revenues by Source
Illinois Municipal Retirement Fund
110
Revenues by Source and Expenses by Type
Police Pension Fund
111
1
Schedule of Officers' Deposits (Police Pension Fund)
112
Schedule of Insurance in Force
113
'
Long -Term Debt Requirements
Sewerage Improvement Bond Series of 1973
114
'
Sewerage Treatment Facilities Bond Series of 1973
115
Corporate Purpose Bond Series of 1982
116
Corporate Purpose Bond Series of 1982 -A
117
t
Corporate Purpose Bond Series of 1986
118
Corporate Purpose Bond Series of 1987
119
General Obligation Bond Series of 1988
120
1
STATISTICAL SECTION
General Governmental Revenues by Source -
Last Ten Fiscal Years
121
General Governmental Expenditures by
Function - Last Ten Fiscal Years
122
'
Property Tax Assessed Valuations, Rates, Extensions,
and Collections - Last Ten Fiscal Years
123
Assessed and Estimated Actual Value of Taxable
Property - Last Ten Fiscal Years
124
'
Property Tax Rates - Direct and Overlapping Governments -
Last Ten Fiscal Years
125
Ratio of Net General Obligation Bonded Debt to Assessed
'
Value and Net General Obligation Bonded Debt Per
Capita - Last Ten Fiscal Years
126
Schedule of Direct and Overlapping Bonded Debt
127
1
TABLE OF CONTENTS .(CONT.)
PAGE
STATISTICAL SECTION (CONT.)
Schedule of Legal Debt Margin 128
Ratio of Annual Debt Service Expenditures for General
Bonded Debt to Total General Governmental
Expenditures - Last Ten Fiscal Years 129
Demographic Statistics - Last Ten Fiscal Years 130
Property Value, Construction, and Bank Deposits -
Last Ten Fiscal Years 131
Principal Taxpayers 132
Miscellaneous Statistics 133 -134
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Introductory Section
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Harriet E. Rosenthal
James L. Marovitz
Marvin W. Ehlers
VILLAGE OF DEERFIELD, ILLINOIS
PRINCIPAL OFFICIALS
APRIL 30, 1991
LEGISLATIVE
VILLAGE BOARD OF TRUSTEES
Bernard Forrest, Mayor
Robert D. Franz, Clerk
ADMINISTRATIVE
Robert D. Franz, Village Manager
FINANCE DEPARTMENT
George J. Valentine
Director of Finance /Treasurer
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Edwin B. Seidman
Vernon E. Swanson
Michael Swartz
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1 Certificate of
� Achievement
� for Excellence
in Financial
1 Reporting
' Presented to
' Village of Deerfield,
Illinois
' For its Comprehensive Annual
Financial Report
' for the Fiscal Year Ended
April 30, 1990
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 (CAFR's) achieve the highest
standards in government accounting
' — and financial reporting.
' ��E OFfj� � /C�'ZItit.�.G � . �',�0`��10 /1�i/►�..,
4�a OE THE �9s
uwrEDSUrES , President
W AND N
1 f
CORPMTI o
6 ORATIDN g
J7 $Eiu. O>' ��
CNK160 � ���: %���
' Executive Director
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October 8, 1991
Dear Mr. Franz:
VILLAGE OF DEERFIELD
' The comprehensive annual financial report of.the Village of Deerfield for
the fiscal year ended April 30, 1991, 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 are accurate in all
material respects and are 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. Th< ntroductory 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;i -as well as the-independent
auditors'- report on the financial statements-'and schedules `The
`statistical section includes selected.financial and demographic
information, generally - presented on a multiyear basis-.)
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This report includes all funds and account groups of the Village. The
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, the 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
850 WAUKEGAN ROAD DEERFIELD; ILLINOIS 60015 TELEPHONE 708.945.5000
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ECONOMIC CONDITION AND OUTLOOK
The northern Cook County and southern Lake County area has undergone a
rapid economic development. The 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 is in both counties. The Cook
County area now encompasses 11.6% of the Village's equalized assessment
valuation, and, according to the 1980 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
to Lake Cook Road 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 in that the Village levies a 5% occupancy tax on rooms which
yielded $809,853 for the year ending 4 /30/91. Unemployment in Lake County
' in August 1991 was 3.9% compared with 7.2% in the state of Illinois and an
estimated 1% in Deerfield.
Sara Lee, a bakery products company, closed their bakery operations in
January 1991. The Village does not believe that this will have a
significant impact on Village revenues in that Sara Lee's assessed
valuation is approximately 1.2% of the Village's total. This site has
little retail sales to the public; therefore, the only sales tax,
estimated to be less than $10,000 per year, is generated through an outlet
store. 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. Sara Lee's
' closing does open up the 50 acres of this site for development. The
Village Planning Commission is examining the site for future redevelopment
in view of the Village's Comprehensive Plan.
' Recent real estate economic reports have indicated an overbuilding in
office properties throughout the Chicago metro area; however, recent
reports have indicated that the offices in Deerfield have a 90 -92%
occupancy rate. The Village considers this to be a very optimistic sign
' that commercial real estate in the Village is being well received by the
market.
The Village sale's tax revenue.for 1991 was $2,014,151 compared to
$2,012,188 for 1990. This is a very small increase; however, considering
the recession and that many other municipalities have shown dramatic
decreases, this is a positive rather than a negative sign.
' All of these factors indicate that Deerfield is and will continue
to be a financially vibrant community.
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 a $3,000,000 bond issue sold in October,
1988. The Village has provided a total capital funding of
$14,000,000 for this project. Any additional renovation required
will be smaller and will depend on specific demand.
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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 district has
had expenditures totalling $574,629 including $250,000 for the aquisition
of property, and the remainder for the completion of Stage 1 and Stage 2
of the Streetscape design, including the Village Plaza.
The Deerfield Police Department has implemented an enhanced 9 -1 -1 system.
This system allows public access to police, fire and emergency medical
services by dialing 9 -1 -1 rather than the 7 digit phone number which was
previously required. The caller's phone number and address automatically
appear on a computer screen in the dispatch center with each call.
The Village, in conjunction with the U. S. Army Corps of Engineers and the
Illinois Department of Transportation - Division of Water Resources, has
begun to construct the regional stormwater retention basin at the
southwest corner of Lake -Cook and Pfingsten Roads. This project is part
of the North Branch Stormwater Management Plan, providing protection to
Deerfield and the downstream communities of Northbrook and Glenview.
Scheduled for completion in 1992, this multi -year construction project
will continue to demand significant attention from the Village.
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.
After approving a redevelopment plan, the Village began acquiring key
parcels of property, budgeted for public improvements essential to the
area, and developed a Streetscape Program for the two major streets which
intersect within the Village Center.
Experience has clearly shown that economic revitalization generally occurs
in areas where there is a joint venture effort between the public and
private 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.
In March, 1991 the Village submitted its proposal to host a pilot Personal
Rapid Transit (PRT) system in the Lake -Cook corridor. Developed in
conjunction with the TMA of Lake -Cook, the Village's proposal was one of
the four finalists selected by the RTA. The consideration of this system,
which consists of an elevated guideway supporting automated vehicles
holding 3 -5 passengers, is indicative of the Village's commitment to look
for innovative approaches to traffic management and economic development.
Vi
Recycling/ Scavenger Service
' In response to growing environmental awareness and concern for decreasing
landfill capacity, Deerfield initiated the weekly 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,
with other plastics ( #1 and #2) scheduled for September of 1991.
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 2,500 cubic yards were not landfilled. Because of
these services, nearly 30% of the residential refuse was diverted from
area landfills between July 1, 1990 and.April 30, 1991.
The curbside program, as well as other scavenger services, is administered
through a negotiated contract with Laidlaw Waste Systems extended through
' December 31, 1992.
After a successful trial 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 compost at a Lake County site operated by the
Lake County Forest Preserve through local contributions and a grant from
the Illinois Department of Energy and Natural Resources. Lake County is
hopeful that successful operation of this facility will lead to
implementation of the County's Solid Waste Management Plan adopted in
September of 1989.
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, internal service
fund, enterprise 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 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.
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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
oftgeneral_ .i
fund �specal _ revenue funds; =_se
") and debtrvice_: funds revenues
for the fiscal year ended April 30, 1991, and the amount and percentage of
increases and decreases in relation to prior year revenues.
Total 10,112,068 100.0 543,456 5.7
3 Lest Taxes. The gene ading of taxes encompasses several different types
of taxes, the laof which is; the property tax. Property tax makes up
46% of taxes, or , ._� This is an increase of r ;'6_r
prior year, or an increase. $.1.0.,, 93-7t-is--f -ar ]7i-brary--par- p'ses, wwh'ile
$115,_6.7.3_is for the - Vil'lage's n ens: _ 0y .5
a
Sale tax is another major category of revenue. The Village receives a 1%
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 ending
April 30, 1991, receipts totalled $2,014,151 or 28% of the total taxes
ireceived. This is an increase over the previous year of approximately
$2.,000. It is the Village's belief that receipts have been impacted by
the recession which has affected the national economy.
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 in 1985, but now has more than 1000. This tax
brought in $809,853 which is 11% of total taxes received in 1990 -91 and a
20% increase over the previous year. It is the Village's belief that this
tax will continue to increase at a rate exceeding the cost of living.
Licenses and Permits. Building permit revenue has decreased to $85,628, a
reduction of $8,190. This is due to a reduction in building activity in
the Village.
Miscellaneous. The decrease in Miscellaneous Revenue is due to a prior
year Gain on Sale of Village property.
The following schedule presents a summary of general fund, special revenue
funds, and debt service funds expenditures for the fiscal year ended April
30, 1991, and the percentage of increases and decreases in relation to
prior year amounts.
Viii
1990 -91 Increase
Percent
Percent
(Decrease)
of Increase
Revenues
Amount
of Total
from 89/90
(Decrease)
Taxes
7,102,918
70.2
506,875
7.7
Licenses and Permits
536,857
5.3
15,571
3.0
Intergovernmental
372,094
3.7
11,124
2.1
Charges for Services
338,788
3.4
10,163
3.1
Fines
311,703
3.1
57,093
22.4
Interest
792,367
7.8
194,396
32.5
Miscellaneous
657,341
6.5
- 251,766
-27.7
Total 10,112,068 100.0 543,456 5.7
3 Lest Taxes. The gene ading of taxes encompasses several different types
of taxes, the laof which is; the property tax. Property tax makes up
46% of taxes, or , ._� This is an increase of r ;'6_r
prior year, or an increase. $.1.0.,, 93-7t-is--f -ar ]7i-brary--par- p'ses, wwh'ile
$115,_6.7.3_is for the - Vil'lage's n ens: _ 0y .5
a
Sale tax is another major category of revenue. The Village receives a 1%
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 ending
April 30, 1991, receipts totalled $2,014,151 or 28% of the total taxes
ireceived. This is an increase over the previous year of approximately
$2.,000. It is the Village's belief that receipts have been impacted by
the recession which has affected the national economy.
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 in 1985, but now has more than 1000. This tax
brought in $809,853 which is 11% of total taxes received in 1990 -91 and a
20% increase over the previous year. It is the Village's belief that this
tax will continue to increase at a rate exceeding the cost of living.
Licenses and Permits. Building permit revenue has decreased to $85,628, a
reduction of $8,190. This is due to a reduction in building activity in
the Village.
Miscellaneous. The decrease in Miscellaneous Revenue is due to a prior
year Gain on Sale of Village property.
The following schedule presents a summary of general fund, special revenue
funds, and debt service funds expenditures for the fiscal year ended April
30, 1991, and the percentage of increases and decreases in relation to
prior year amounts.
Viii
1990/91 Increase Percent
Percent (Decrease) of Increase
' Expenditures Amount of Total from 1989/90 (Decrease)
Current
' General Government 1,388,758 15.5 11,488 .8
Public Safety 3,022,637 33.8 270,267 9.8 - -
Highways and Streets 1,165,590 13.0 22,667 1.9
Culture and Recreation 962,517 10.8 44,535 4.9
' Miscellaneous 579,911 6.5 65,927 12.8
Debt Service
Principal 835,000 9.3 135,000 19.3
Interest 995,592 11.1 - 64,718 -6.1
' Total 8,950,005 100.0 439,832 5.2
' General Government. The very small increase in expenditure in General
Government is due to a reduction in expenses for Village Hall remodelling.
The major renovation took place in 1988 -89 at a cost of $136,270.
Police increases were due to general increases in salaries and
expenditures and the completion of an additional new office which is being
used by the police department.
iGeneral Fund Balance. The undesignated fund balance has decreased to
$1,725,166 from $1,917,252. The reason for this reduction is 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
($1,320,0.0:01 and has an additional ($,3,,500,000� designated for this project.
The Village's undesignated fund balance of $1,725,166 is the equivalent of
89 working days of expenditures.
Enterprise Operations The Village's enterprise operations are comprised
r s �
of four separate and distinct activities: the Water Fund and Sewerage
' Funds, the Refuse Fund, and the Commuter Parking Lot Fund.
The Water Fund operating expenses (before depreciation) were reduced by
approximately $38,000, due primarily to a- $90,000 reduction in the amount
' of water purchased. The previous year, ended 4/30/90, was an extremely
dry year, which required the Village to purchase more water to satisfy
demand. Water sales were down for the year ending 4/30/91 by
' approximately $150,000. This is also due to a comparison of a year of
normal demand fiscal year ending 1991 to a year of high demand fiscal
yearending 1990. The Water Fund had a total net income of $160,000 vs. a
budgeted amount of $131,000.
' In Sewer Fund, the total operating expenses were approximately $31,000
less than in the prior year, that is $1,131,000 vs. $1,162,000. The fund
had a net loss of $112,000; however, operating income before depreciation
' was $45,000.
The Refuse Fund had a net income of $110,000. Expenses increased from
' $1,275,000 to $1,454,000, a 148 increase. This was mainly due to the
continuation and enlargement of the Village's recycling program.
There were no significant changes in either revenues or expenses for the
Commuter Parking Lot Fund.
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Pension Trust Fund Operations. The operations of the Village of Deerfield
Police Pension Fund (PERS) remained relatively stable in 1991. For the
year ending April 30, 1991, the pension benefit obligation funding level
decreased to 118 %, from 123% the prior year. This was largely due to the
addition of new officers which reduced the aggregate funding level.
Debt Administration. At April 30, 1991, the Village had a number of debt
issues outstanding. These issues included $12,195,254 of net general
obligation bonded debt and no revenue bonds. This total excludes a fully
defeased $10,000,000 debt issue. The Village issued no debt during the
fiscal year ended 4/30/91. The Village has maintained its AA from Moody's
Investors Service on general obligation bond issues. 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 - 1990 489,019,552
Legal Debt Limit - 8.625 42,177,936
Legal Debt Margin 29,982,682
The Village sold a $1,500,000 General Obligation Bond issued on July 23,
1991 for Central Business District renovation purposes. The Village bond
rating was upgraded to a AA+ by Moody's Investment Service.
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, wasLA..938?. . The pension trust fund
achieved a yield rate of 011.48.81 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 ofK_6,.9:181
for 90 day U.S. Treasury bills and - 87.448 =for 10 year U.S. Treasury notes.
The Village earned interest revenue of $1,683,857 on all investments
except the Trust and Agency fund group and $772,839 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 believes that utilizing the above criteria
allows the Village to obtain competitive quotes on certificates of deposit
and banking services without the need for costly collateral. Village
deposits which are uninsured and uncol lateral ized total $541,440 or 1.5%
of cash and investments. The Village's investments total $35,475,847. Of
these, $28,238,483 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
$7,237,364, as detailed below, is held in accounts not subject to risk
categorization. $5,026,321 is invested in the Illinois Public Treasury
Pool, $1,190,112 is in a deferred compensation plan asset account, and the
remaining $1,020,931 is in life insurance company contracts.
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Risk Management. The Village participates in the Municipal Insurance
Cooperative Agency., MICA. MICA is a. proprietary joint venture 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 High -Level Excess Liability Pool,
Illinois to provide excess liability coverage ($5,000,000 of coverage
after 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 Wolf & Company 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, 1990. 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 seven 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.
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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.
Respectfully submitted,
inance Director
X1
Financial Section
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t
We have audited the general purpose financial
statements
Wolf &Company
'
Certified Public Accountants
statements
of the Village of
INDEPENDENT AUDITOR'S REPORT
The Honorable Mayor
Members of the Board of Trustees
Village of Deerfield, Illinois
2100 Manchester Road Suite 1750
Wheaton, Illinois 60187 -9820
(708) 665 -5900
FAX 665 -8973
We conducted our audit in accordance with generally accepted auditing standards.
Those standards require that we.plan.and perform the audit to obtain reasonable
assurance about whether the financial statements are free of material misstate-
' ment. 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
t management, as well as evaluating the overall financial statement presentation.
We believe that our audit provides a reasonable basis for our opinion.
t 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, 1991, and the results of its operations
and the 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, 1991, and the results of operations of such funds and the cash
flows of individual proprietary funds for the year then ended in conformity with
generally accepted accounting principles.
Our audit was made for the purpose of forming an opinion on the general purpose
financial statements and on the combining, individual fund, and account group
' financial statements taken as a whole. 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
t general purpose financial statements of the Village of Deerfield, Illinois. Such
information has been subjected to the auditing procedures applied in the
1
Oak Brook • Wheaton
We have audited 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,
1991, 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.
We conducted our audit in accordance with generally accepted auditing standards.
Those standards require that we.plan.and perform the audit to obtain reasonable
assurance about whether the financial statements are free of material misstate-
' ment. 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
t management, as well as evaluating the overall financial statement presentation.
We believe that our audit provides a reasonable basis for our opinion.
t 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, 1991, and the results of its operations
and the 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, 1991, and the results of operations of such funds and the cash
flows of individual proprietary funds for the year then ended in conformity with
generally accepted accounting principles.
Our audit was made for the purpose of forming an opinion on the general purpose
financial statements and on the combining, individual fund, and account group
' financial statements taken as a whole. 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
t general purpose financial statements of the Village of Deerfield, Illinois. Such
information has been subjected to the auditing procedures applied in the
1
Oak Brook • Wheaton
1
t audit of the general purpose, combining, individual fund, and account group
financial statements and, in our opinion, is fairly stated 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 statistical information listed in the table of contents was not audited by
' us and, accordingly, we do not express an opinion thereon.
1
September 4, 1991
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WolfWompany
" Certified Public Accountants
GENERAL PURPOSE FINANCIAL STATEMENTS
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I
VILLAGE OF DEERFIELD, ILLINOIS
ALL FUND TYPES AND ACCOUNT GROUPS
COMBINED BALANCE SHEET
APRIL 30, 1991
(See Following Page)
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'
E C N
1
VILLAGE OF DEERFIELD, ILLINOIS '
ALL PROPRIETARY AND FIDUCIARY (PENSION TRUST) FUND TYPES
COMBINED STATEMENT OF REVENUES, EXPENSES, '
AND CHANGES IN RETAINED EARNINGS - UNRESERVED /FUND BALANCE
FOR THE YEAR ENDED APRIL 30, 1991
Operating Expenses
Administration
Operations
Depreciation
Benefits and Refunds
Miscellaneous
Total Operating Expenses
Operating Income (Loss)
Nonoperating Revenues (Expenses)
Interest Income
Property Taxes
Net Income (Loss) before
Operating Transfers
Operating Transfers In
Operating Transfers (Out)
Net Income (Loss)
Other Changes in Retained Earnings -
Unreserved /Fund Balance
Depreciation that Reduces Contributed
Capital
Intrafund Transfers from
Restricted Accounts
Net Increase (Decrease) in Retained Earnings/
Fund Balance
Retained Earnings - Unreserved/
Fund Balances
May 1
Prior Period Adjustment
Adjusted Balances
April 30
Proprietary
Fiduciary
t
,
Fund Types
Fund Type
Totals
350,152
4,012,903
Internal
Pension
(Memorandum Only)
4,203,761
Enterprise
Service
Trust
1991 1990
376,057
117,720
'
585
585
'
Operating Revenues
4.841.159
188.408
155.429
5.184.996
5.048 258
Taxes
(776.608)
(508)
155,284
155,284 160,461
119.864
Charges for Services
$3,942,026
187,900
4,129,926 4,225,910
200,464
Contributions
724.843
979.112
-
136,638
136,638 127,771
621..L87
822.151
Interest
202.504
(508)
772,839
772,839 562,558
'
Miscellaneous
1.22,525
122.525 91.416
Total Operating Revenues
4,064.551
187.900
1.064.761
5.317.212 5.168.122
(103,000)
Operating Expenses
Administration
Operations
Depreciation
Benefits and Refunds
Miscellaneous
Total Operating Expenses
Operating Income (Loss)
Nonoperating Revenues (Expenses)
Interest Income
Property Taxes
Net Income (Loss) before
Operating Transfers
Operating Transfers In
Operating Transfers (Out)
Net Income (Loss)
Other Changes in Retained Earnings -
Unreserved /Fund Balance
Depreciation that Reduces Contributed
Capital
Intrafund Transfers from
Restricted Accounts
Net Increase (Decrease) in Retained Earnings/
Fund Balance
Retained Earnings - Unreserved/
Fund Balances
May 1
Prior Period Adjustment
Adjusted Balances
April 30
186,301
186,301 191,764 '
88.708
186.301 - - 186.301 280,472
375.275 (508) 909.332 1,284,099 1 119 487
5,140,659 (66,520) 6,425,063 11,499,202 10,229,715
160,469 160.469 150,000
5,140,659 (66.520) 6,585,532 11 659 671 10,379,715
5.515.934 (67.028) 7.494.864 12.943.770 11.499.202
See accompanying Notes to the Financial Statements.
6
1
1
1
1
1
,
465,337
465,337
350,152
4,012,903
188,408
4,201,311
4,203,761
362,919
154,844
362,919
154,844
376,057
117,720
'
585
585
568
4.841.159
188.408
155.429
5.184.996
5.048 258
(776.608)
(508)
909.332
132.216
119.864
'
254,269
254,269
200,464
724.843
979.112
-
-
724.843
979.112
621..L87
822.151
'
202.504
(508)
909.332
1.111.328
942.015
100,000
100,000
t
(113.530)
(113.530)
(103,000)
(13.530)
-
-
(13.530)
(103,02-0)
188.974
(508)
909.332
1.097.798
839,015
'
186,301
186,301 191,764 '
88.708
186.301 - - 186.301 280,472
375.275 (508) 909.332 1,284,099 1 119 487
5,140,659 (66,520) 6,425,063 11,499,202 10,229,715
160,469 160.469 150,000
5,140,659 (66.520) 6,585,532 11 659 671 10,379,715
5.515.934 (67.028) 7.494.864 12.943.770 11.499.202
See accompanying Notes to the Financial Statements.
6
1
1
1
1
1
1
I VILLAGE OF DEERFIELD, ILLINOIS
ALL PROPRIETARY FUND TYPES
'
COMBINED STATEMENT
FOR THE YEAR ENDED
OF CASH FLOWS
APRIL 30, 1991
Proprietary Fund
Enterprise
Types
Internal
Service
Totals
'
Cash Flows from Operating Activities
Operating (Loss) $
(776,608)
(508)
(777,116)
Adjustments to Reconcile Net Income to
Net Cash Provided by Operating Activities
Depreciation
362,919
362,919
Changes in Assets and Liabilities
'
Receivables
Due From Other Funds
(178,415)
(10,560)
135
(178,280)
(10,560)
Inventories
13,427
(13,495)
(68)
Investment in Joint Venture
(16,001)
(16,001)
Accounts Payable
8,131
(17)
8,114
Accrued Payroll
945
657
1,602
'
Compensated Absences Payable
33,454
15,017
48,471
Due to Other Funds
52.308
(1,789)
50.519
(510.400)
-
(510.400)
Cash Flows from Noncapital Financing Activities
Operating Transfers (Out)
(13,530)
(13,530)
Other Nonoperating Revenues
724,843
724.843
711.313
-
711.313
Cash Flows from Capital and Related
'
Financing Activities
Fixed Assets Purchased
(70.391)
-
(70,391)
Cash Flows from Investing Activities
Purchase of Investment Securities (1,480,113)
(1,480,113)
'
Proceeds from Sale and Maturities
of Investment Securities
466,878
466,878
Interest on Investments
254.269
254.269
-
(758.966)
-
(758.966)
'
Net (Decrease) in Cash and
Cash Equivalents
(628 , 444)
(628,444)
Cash and Cash Equivalents
May 1
2,642,888
-
2.642.888
April 30 _
2,014.444
-
2.014,444
1
1
ISee accompanying Notes to the Financial Statements.
VA
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1991
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.
A. Reporting Entity
In evaluating how to define the government, for financial reporting
purposes, management has considered all potential component units. The
decision to include a potential component unit in the reporting entity
was made by applying the criteria set forth in GAAP. The basic - -but
not the only -- criterion for including a potential component unit within
the reporting entity is the governing body's ability to exercise
oversight responsibility. The most significant manifestation of this
ability is financial interdependency. Other manifestations of the
ability to exercise oversight responsibility include, but are not
limited to, the selection of governing authority, the designation of
management, the ability to significantly influence operations, and
accountability for fiscal matters. A second criterion used in
evaluating potential component units is the scope of public service.
Application of this criterion involves considering whether the activity
is conducted within the geographic boundaries of the government and is
generally available to its citizens. A third criterion used to
evaluate potential component units for inclusion or exclusion from the
reporting entity is the existence of special financing relationships,
regardless of whether the government is able to exercise oversight
responsibilities. Based upon the application of these criteria, the
following is a brief review of each potential component unit addressed
in defining the government's reporting entity.
Included within the Reporting Entity:
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 Mayor, 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
8
C
' VILLAGE OF DEERFIELD,.ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1991
1
1. Summary of Significant Accounting Policies (Cont.)
A. Reporting Entity (Cont.)
' Included within the Reporting Entity (Cont.):
is authorized to establish benefit levels and the government is
authorized to approve the actuarial assumptions used in the
' determination of contribution levels.
Excluded from the Reporting Entity:
West Deerfield Township
Highland Park Mosquito Abatement District
' Deerfield Park District
Deerfield Bannockburn Fire Protection District
These potential component units have separate elected boards and
' provide services to residents, generally within the geographic
boundaries of the government. These potential component units are
excluded from the reporting entity because the government does not have
' the ability to exercise influence over their daily operations, approve
budgets or provide funding.
' Municipal Insurance Cooperative Agency (MICA)
MICA is an agency established to administer general liability insurance
programs for local governments. Management consists of a Board of
Directors comprised of an 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. MICA is
' reported as a governmental joint venture.
High -Level Excess Liability Pool (HELP)
HELP is a proprietary venture established for the purpose of seeking
the prevention or lessening of liability claims made against 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. HELP is reported as a
proprietary joint venture.
t
1 9
1
1
VILLAGE OF DEERFIELD, ILLINOIS '
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1991
Summary of Significant Accounting Policies (Cont.)
A.
B.
Reporting Entity (Cont.)
Excluded from The Reporting Entity (Cont.):
Solid Waste Agency of Lake County ( SWALCO)
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. SWALCO is reported as a
proprietary joint venture.
Fund Accounting
The government uses funds and account groups to report on its financial
position and the results of its operations. Fund accounting is
designed to demonstrate legal compliance and to aid financial
management by segregating transactions related to certain 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 a
government's general activities, including the collection and
disbursement of ear - marked 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).
10
L1
' VILLAGE OF DEERFIEID, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30,1991
1. Summary of Significant Accounting Policies (Cont.)
B. Fund Accounting (Cont.)
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, or an
' expendable trust fund is used. The term "expendable" refers 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.
' C. 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. Fund equity (i.e., net
'
total assets) in proprietary funds is segregated into contributed
capital and retained earnings components. Proprietary fund -type
operating statements present increases (e.g., revenues) and decreases
(e.g., 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.
11
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1991
1. Summary of Significant Accounting Policies (Cont.)
C. Basis of Accounting (Cont.)
Those revenues susceptible to accrual are property taxes, franchise
taxes, licenses, interest revenue, and charges for services. Sales and
income taxes and motor fuel taxes collected and held by the state at
year end on behalf of the government also are recognized as revenue.
Fines and permits revenues are not susceptible to accrual because
generally they are not measurable until received in cash.
The accrual basis of accounting is utilized by proprietary fund types
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.
D. Budgets
Budgets are adopted on a basis consistent with generally accepted
accounting principles. Annual appropriated budgets are adopted for all
of the General, Special Revenue, Debt Service, Enterprise, Internal
Service and Pension Trust Funds. 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 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.
12
1
' VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1991
IInvestments -
' 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.
F. 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 ".
' G. 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.
13
1. Summary of Significant Accounting Policies (Cont.)
E. 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
equivalents.
when purchased to be cash
Proprietary
1
Fund Types
Internal
Enterprise Service
Cash and Cash Equivalents
$2,014,444 -
Investments
1,480,113
'
Total Cash and Investments
3,494.55
IInvestments -
' 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.
F. 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 ".
' G. 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.
13
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1991
1. Summary of Significant Accounting Policies (Cont.)
H. 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.
Depreciation on fixed assets acquired through intergovernmental grants,
entitlements, or shared revenues externally restricted to capital
acquisitions is closed to contributed capital.
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.
I. 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. Amounts of vested or accumulated vacation leave that are not
expected to be liquidated with expendable available financial resources
are reported in the general long -term debt account group. %Vested or
accumulated vacation leave of proprietary funds_is_ recorded as -an)
expense -and - liability__-of- those funds -as _the---bene fits accrue_.to.
�.emp ogees_
14
1
' VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1991
1. Summary of Significant Accounting Policies (Cont.)
'
J. 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.
K. Fund Equity
'
financial position, results of operations, or changes in financial
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 appropri-
able for expenditure or legally segregated for a specific future use.
Designated fund balances represent tentative plans for future use of
'
financial resources.
L. 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.
M. 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, results of operations, or changes in financial
position in conformity with generally accepted accounting principles.
15
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1991
1. Summary of Significant Accounting Policies (Cont.)
M. Memorandum Only - Total Columns (Cont.)
Neither are such data comparable to a consolidation. Interfund
eliminations have not been made in the aggregation of this data.
N. Comparative Data
Comparative total data for the prior year have been presented in the
accompanying financial statements in order to provide an understanding
of changes in the government's financial position and operations.
However, comparative data have not been presented in all statements
because their inclusion would make certain statements unduly complex
and difficult to understand. The prior year data have been restated to
reflect cash overdrafts as interfund liabilities.
2. Legal Compliance and Accountability
A. 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, function, and activity, 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.
Any amendments to the budget must be approved by the governing body.
Expenditures may not legally exceed budgeted appropriations at the fund
level. During the year no supplementary appropriations were necessary.
B. 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
Illinois Municipal Retirement Fund ° 1 ` �`"`� L$ 219_1_7.5.8
Enhanced 911 Fund C53. 250
Tax Incremental Finance District 2 Fund Go..rw F,,., c-1, 280, -249 j
Brickyard Park Fund C-69,030�
Garage Fund 167,028'1
16
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1991
2. Legal Compliance and Accountability (Cont.)
C. 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:
IFund Excess
Permitted Deposits and Investments - Statutes authorize the government to
' make deposits /invest in commercial banks, savings and loan institutions,
obligations of the U. S. Treasury and U. S. Agencies, obligations of States
and their political subdivisions, credit union shares, repurchase agree-
ments, 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, mortgages, veteran's loans, and life insurance company
Icontracts.
1
1
J
17
1
Motor Fuel Tax Fund
$17,140
1
Transportation Fund
53
Debt Service Fund
3,141
Commuter Parking Lot Fund
721
Garage Fund
2,898
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
investments ". In addition., investments are separately held
as "cash and
by several of
the government's funds. The deposits and investments of the
pension trust
funds are held separately from those of other funds. Cash
on hand of
$2,205 has been excluded from the amounts shown below.
Permitted Deposits and Investments - Statutes authorize the government to
' make deposits /invest in commercial banks, savings and loan institutions,
obligations of the U. S. Treasury and U. S. Agencies, obligations of States
and their political subdivisions, credit union shares, repurchase agree-
ments, 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, mortgages, veteran's loans, and life insurance company
Icontracts.
1
1
J
17
1
\ VILLAGE OF.DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1991
\�3 Deposits and Investments (Cont.)
A. Deposits
At year -end the carrying amount of the government's deposits totaled
$589,975, and the bank balances totaled $902,203.
Category 1
Deposits covered by federal depository
insurance, or by collateral held by the
government, or its agent, in the
gavernment's name.
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 de-
posits which are uninsured and uncol-
Bank
Balances
$360,763
lateralized. SQL- va t,541."O
Total Deposits 902,203
Deposits classified as Category 3 are entirely composed of deposits
which are uninsured and uncollateralized.
For pension trust funds there are no deposits classified as Category 3.
18
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
A
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1991
3. Deposits and Investments (Cont.)
B. 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 unco1 lateral ized
investments.
• Deferred Compensation Plan Assets
• Illinois Public Treasurer's Investment Pool
• Insurance Contracts and Separate Accounts
Total Investments
* (Not Subject to Risk Categorization)
19
1,190,112 1,190,112
5,026,,321) 5,026,321
1.020.931 1.021.945
35,475.847 37.446.176
Carrying Amount
Category
Market
1 2 3
Totals
Value
U. S. Government
Securities
$13,664,457
13,664,457,
14,888,819
GNMA
1,429,166
1,429,166
1,446,029
Dade County Florida
Aviation Reserve
Bonds
10,000,000
10,000,000
10,728,280
Commercial Paper
- 3.144.860
3.144.860
3.144.670
28,238,483 - -
28,238,483
30,207,798
• Deferred Compensation Plan Assets
• Illinois Public Treasurer's Investment Pool
• Insurance Contracts and Separate Accounts
Total Investments
* (Not Subject to Risk Categorization)
19
1,190,112 1,190,112
5,026,,321) 5,026,321
1.020.931 1.021.945
35,475.847 37.446.176
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1991
3. Deposits and Investments (Cont.)
B. Investments (Cont.)
The pension trust fund owns approximately 29 percent of the investments
in Category 1.
4. Receivables - Taxes
Property taxes for 1990 attach as an enforceable lien on January 1, 1990,
on property values assessed as of the same date. Taxes are levied by
December of the subsequent fiscal year (by passage of a Tax Levy
Ordinance). Tax bills are prepared by the County and issued on or about
April 30, 1991, and are payable in two installments, on or about June 1,
1991, and September 1, 1991. The County collects such taxes and remits
them periodically.
5. Fixed Assets
A. General Fixed Assets Account Group
The following is a summary of changes in the general fixed assets
account group during the fiscal year:
20
Balances
Balances
May 1
Additions
Retirements
April 30
Land
$2,919,603
245,843
15,000
3,150,446
Building and
Improvements
4,804,858
4,804,858
Vehicles
657,850
26,950
3,000
681,800
Equipment
_1_,471,197
226,459
9,450
1,688,206
9,853,508
499,252
27,450
10,325,310
20
1
I
1
1
1
1
1
1
1
1
1
1
1
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1991
5. Fixed Assets (Cont.)
B. 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
Systems 11,398,908
Equipment and Vehicles 653,271
Parking Lot 613,958
12,743,637
Less Accumulated Depreciation 3,803,271
8,940,366
In proprietary funds, the following estimated useful lives are used to
compute depreciation:.
Buildings —. 40 -50 years
Machinery and Equipment 10 -20 years
Vehicles - 4-5 years
Water /Sewer System 50 -60 years
C. 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 Financine
Warwick Road Pumping
Station $1,568,394 1,552,710 15,684 -
Pedestrian Bridge
Improvements
Phase 2B Sanitary
Sewer
187,160 - 187,160
3,496,464 3,399,253 57,211
21
40,000
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1991
6. Risk Management
A. The government has purchased medical insurance from private insurance
companies. Premiums have been displayed as expenditures /expenses in
appropriate funds.
B. Municipal Insurance Cooperative Agency (MICA)
The government participates in the Municipal Insurance Cooperative
Agency. MICA is a governmental joint venture 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 members. The government's
payments to MICA are displayed on the financial statements as
expenditures /expenses in appropriate funds.
C. High -Level Excess Liability Pool (HELP)
The government participates in the High -Level Excess Liability Pool
(HELP). HELP is a joint venture 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.
7. Lease Obligations
No material capital or operating leases were in effect as of the date of
this report.
8. Long -Term Debt
A. General Obligation Bonds
The government issues general obligation bonds to provide funds 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:
22
1
' VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1991
8. Long -Term Debt (Cont.)
A. General Obligation Bonds (Cont.)
'
Fund Debt
Balances
Balances
Issue
Retired by
May 1 Issuances
Retirements
April 30
Sewerage Improvement
'
Bond Series of 1973
($1,080,000 dated
June 1, 1973; ma-
turing December 1,
1992; payable in
annual installments;
interest rates from
Debt
4.4% to 5.1%)
Service
$175,000
75,000
100,000
Sewer Treatment
Facility Bond Series
of 1973; ($2,000,000
dated June 1, 1973;
maturing December 1,
1992; payable in
annual installments;
interest rates from
Debt
'
4.4% to 6.0%)
Corporate Purpose Bond
Service
425,000
125,000
300,000
Series of 1982;
($500,000 dated Oc-
tober 1, 1982; matur-
ing December 1, 1994;
payable in annual in-
stallments; interest
rates from 4.4% to
6.0%)
Debt
Service
325,000
50,000
275,000
Corporate Purpose Bond
Series of 1982 -A;
($500,000 dated Dec-
ember 1, 1982; matur-
ing December 1, 1993;
payable in annual in-
stallments; interest
rates from 7.0% to
Debt
8.5%)
Service
200,000
50,000
150,000
23
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1991
8. Long -Term Debt (Cont.)
A. General Obligation Bonds (Cont.)
* 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.
24
Fund Debt
Balances
Balances
Issue
Retired By
May 1 Issuances
Retirements
April 30
Corporate Purpose
Bond Series of 1986;
($11,000,000 dated
May 1, 1986; maturing
January 1, 2005; payable
in annual installments;
interest rates from 6.40X
Debt
to 7.752)
Service
$10,300,000
410,000
9,890,000
Corporate Purpose Bond
Series of 1987;
($10,000,000 dated
October 8, 1987; ma-
turing October 8, 2002;
interest rate from 8.4%
*Expendable
to 8.5%)
Trust
10,000,000
10,000,000
General Obligation Bond
Series of 1988;
($3,000,000 dated No-
vember 1, 1988; maturing
January 1, 2004; payable
in annual installments;
interest rates from 6.7%
Debt
to 8.0%)
Service
2.900.000
125.000
2.775.000
_24 325.000 -
835.000
23.490.000
* 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.
24
1
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
' APRIL 30, 1991
1
1
1
I
25
11
8. Long -Term Debt (Cont.)
tB.
Debt Service Requirements
to Maturity
Annual debt service requirements to maturity
are as follows:
General
Obligation
Bonds
t
Fiscal Year
General
Ending
Expendable
Long -Term
April 30
Trust
Debt
Totals
'
1992
$ 843,000
1,827,450
2,670,450
1993
843,000
1,827,212
2,670,212
t
1994
1995
843,000
843,000
1,586,475
1,528,262
2,429,475
2,371,262
1996
843,000
1,430,993
2,273,993
1997
843,000
1,447,497
2,290,497
'
1998
843,000
1,433,997
2,276,997
1999
843,000
1,442,037
2,285,037
2000
843,000
1,429,950
2,272,950
2001
843,000
1,438,650
2,281,650
'
2002
J
V7 , 549 _606,
1,446,200
8, 9.9 5 ,200 14195" L a C
2003
t3,- 127,500
1,454,513
X4,582,0.13? 15' 7,0 13
2004
1,432,050
\1,432,050
t2005
1,115,538
1,115,538
Total Principal
and Interest
_19,106,500
20,840,824
39,9476324
Interest Portion
9,106,500
7,350,824
16,457,324
1
1
1
I
25
11
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1991
8. Long -Term Debt (Cont.)
C. Changes in Long -Term Liabilities
During the fiscal year the following changes occurred in liabilities
reported in the general long -term debt account group:
Sewerage Improvement
Bond Series of 1973
Sewerage Treatment
Facility Bond Series
of 1973
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
D. Legal Debt Margin
Balances Balances
May 1 Additions Reductions April 30
$ 175,000
75,000
100,000
425,000
125,000
300,000
325,000
50,000
275,000
200,000
50,000
150,000
10,300,000
410,000
9,890,000
2.900.000 125.000 2,775.000
14,325,000 - 835,000 13,490,000
The government is a home rule municipality.
Article VII, Section 6(k) of the 1970 Illinois Constitution 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.
26
tVILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
' APRIL 30, 1991
' 8. Long -Term Debt (Cont.)
E. Noncommitment Debt
' Industrial Development Revenue Bonds
t 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 Revised Statutes.
The issuance of Industrial Development Revenue Bonds by the government
'
is to finance in whole or in part the cost of the acquisition,
t
purchase, construction, reconstruction, improvement, equipping,
t4/16/84
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.
t4/16/84
Industrial Revenue 1,000,000 Teradyne, Inc.
12/17/84 Industrial Revenue 4,500,000 Industrialplex
Limited
Partnership
1
1
1
27
1
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1991
9. Interfund Assets /Liabilities
Due From /To Other Funds
Receivable Fund
Payable Fund
Amount
General
Illinois Municipal
Retirement $
132,696
General
Enhanced 911
54,320
General
Tax Increment Finance
District #2
1,320,000
General
Refuse
118,367
General
Garage
87,438
General
Deposit
9,456
Municipal Audit
Debt Service
56
Emergency Services /Disaster
Debt Service
22
Library
Emergency Services /Disaster
3,216
Library
Illinois Municipal
Retirement
619
Street and Bridge
Illinois Municipal
Retirement
41
Illinois Municipal Retirement
Debt Service
12,789
Brickyards Development
Tax Increment Finance
District #1
170,000
Refuse
Municipal Audit
481
Refuse
Library
3,778
Refuse
Street and Bridge
3,546
Refuse
Illinois Municipal
Retirement
1,460
Refuse
Debt Service
8,353
28
1
' VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
' APRIL 30, 1991
9. Interfund Assets /Liabilities (Cont.)
'
Due From /To Other Funds (Cont.)
The government
Receivable Fund
Payable Fund
Amount
'
Police Pension
Library
$ 638
'
Police Pension
Illinois Municipal
Retirement
3.967
amounts represent the government's
share of the principal
1,931,243
"fixed costs" - of the Agency):
tYear
Ending,
10. Commitments
'
High -Level Excess liability Pool (HELP)
The government
has committed to purchase 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):
tYear
Ending,
Amount
'
1992
1993
$25,352
25,263
1994
25,094
1995
25,744
'
1996
26,258
1997
25,731
1998
26,024
J
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
29
VILI:AGE' OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1991
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:
30
Commuter
Water
Sewerage
Refuse
Parking Lot
Fund
Fund
Fund
Fund
Fund
Totals
Operating Revenues
$2,019,873
1,176,767
735,017
132,894
4,064,551
Depreciation, and
Amortization Expense
96,873
235,348
-
30,698
362,919
Operating Income (Loss)
71,395
(189,931)
(718,867)
60,795
(776,608)
Operating Grants, Entitle-
ments, and Shared Revenues
-
-
-
-
-
Operating Transfers In
-
-
100,000
-
100,000
Operating Transfers Out
33,280
30,250
-
50,000
113,530
Tax Revenues
-
-
724,843
-
724,843
Net Income (Loss)
159,639
(111,727)
109,663
31,399
188,974
Current Capital Contributions
-
-
-
-
-
Current Capital Transfers
-
-
-
-
-
Plant, Property, and Equipment
Additions
8,676
61,715
-
-
70,391
Deletions
-
-
-
-
-
Total Assets
4,678,446
7,979,886
831,488
708,822
14,198,642
Net Working Capital
,201,153
712,-2&i-
1,537,956
610,432�
37.4,045
4,723,586
Bonds and Other Long -Term
Liabilities
Payable from Operating
Revenues
-
-
-
-
-
Payable from Other
Sources
-
-
-
-
-
Total Equity
4,537,542
7,816,669
610,432
699,309
13,663,952
30
1
' VILLAGE OF DEERFIELD, ILL>'INOIS
NOTES TO THE FINANCIAL STATEMENTS
' APRIL 30, 1991
' 12. Contributed Capital
'
During the year
contributed capital
increased /decreased by the
following
tamounts:
13. Fund Equity
'
A. Prior Period Adjustments
Commuter
During the fiscal year prior period adjustments were made
as follows:
'
Water
Sewerage
Parking Lot
'
Fund
Fund
Fund
Totals
Increases
-
-
-
-
B. Tax Incremental Finance District Surplus Rebate
On December 17, 1990, the government passed Resolution No.
90 -10 titled
Decreases
"Resolution Declaring a Surplus of Tax Increment Financing Funds" in
accordance with the Illinois Revised Statutes. The
government
Depreciation
S 43,012
116,262
27.027
186.301
'
Net (Decrease)
(43,012)
(116,262)
(27,027)
(186,301)
'
Contributed Capital
May 1 1.867.529 6.141.604 325.186
8,334.319
April 30 1_,824,517 6,025,342 298.159
8.148,018
13. Fund Equity
'
A. Prior Period Adjustments
During the fiscal year prior period adjustments were made
as follows:
'
Amount
Police Pension Fund
To correct for prior year's error inC_accounting
C-for- investments.
$160,469
B. Tax Incremental Finance District Surplus Rebate
On December 17, 1990, the government passed Resolution No.
90 -10 titled
"Resolution Declaring a Surplus of Tax Increment Financing Funds" in
accordance with the Illinois Revised Statutes. The
government
determined that the sum of $7,977,258 held in the Tax
Incremental
Finance District 1 Fund was surplus funds and should be redistributed
to the appropriate taxing districts.- This amount is shown as Surplus
1
Rebate in the Tax Incremental Finance District 1 Fund.
31
1
VILLAGE-OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 306, 1991
14. Contingent Liabilities
A. Litigation
The government is a defendant in various lawsuits. Although the out-
come 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.
B. 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 col-
lected, 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.
C. 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.
(15 - Subsequent Events
On July 17, 1991 the government issued $1,500,000 of General Obligation
Bonds for various construction projects. These bonds are dated July 1,
1991, have varying interest rates from 5.20% to 5.80% maturing on
January 1, 1993 through January 1, 1997.
16. Joint Ventures
A. Municipal Insurance Cooperative Association (MICA)
Description of Joint Venture
The Municipal Insurance Cooperative Association (MICA) is a
governmental joint venture established by certain units of local
government in Illinois to administer some or all of their general
liability insurance programs.
Management consists of a Board of Directors comprised of one appointed
representative from each member. In addition, there are three
officers, a Benefit Administrator and a Treasurer.
32
q
t
VILLAGE OF DEERFIELD, ILLINOIS
' NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1991
16. Joint Ventures (Cont.)
' A. Municipal Insurance Cooperative Association (MICA) (Cont.)
Description of Joint Venture (Cont.)
' The government does not exercise any control over activities of MICA
beyond its representation on the Board of Directors. MICA functions
' solely as an administrative agent for each member.
Summary Financial Information of Joint Venture
' The latest available financial statements of the Cooperative, dated
April 30, 1990, show the following:
'
Total Assets
S3.2® 73
the following municipalities were
Total Liabilities
1,470,426
'
Total Equity
1.802.766
Total Liabilities and
'
Equity
_3.2®
Share
B. High -Level Excess Liability Pool (HELP)
'
Description of Joint Venture
Village
'
The High -Level Excess Liability Pool (the "Agency ") is a proprietary
joint venture and was organized on April 1, 1987. The purpose of the
11.80%
Agency is to act as a joint self- insurance pool for the
purpose of
seeking the prevention or lessening of liability claims for
injuries to
Chicago Ridge
persons or property or claims for errors and omissions made
against the
'
Members and other parties included within the scope of coverage.of the
'
Agency.
of
At the date
of this report,
the following municipalities were
members
of the Agency:
Share
Share
Village
of
Arlington Heights
11.80%
Village
of Mt. Prospect 7.63%
Village
of
Chicago Ridge
2.24
Village
of Oak Lawn
9.77
'
Village
of
Deerfield
03 ' 39i
City of
Park Ridge
5.76
City of
Des
Plaines
10.71
Village
of Skokie
10.21
Village
of
Elk Grove Village
7.83
Village
of Streamwood
4.29
Village
of
Glenview
6.38
City of
Wheaton
7.12
Village
of
Hoffman Estates
6.87
Village
of Winnetka
4.42
Village
of
Lincolnshire
1.38
'
100.00%
33
,.
1
1
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1991
16. Joint Ventures (Cont.)
B. High -Level Excess Liability Pool (HELP) (Cont.) I
Description of Joint Venture (Cont.)
These percentage shares are subject to change in future years based
upon a formula specified in the Agency Agreement.
The Agency 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 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 debt 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.
The government does not exercise any control over the activities of the t
Agency beyond its representation on the Board of Directors.
Summary Financial Information of Joint Venture '
Summary of Financial Position as of April 30, 1991:
Assets Liabilities and Fund Equity '
Current Assets
Cash and Investments
Current Liabilities
Accounts Payable
14,329
,
Unrestricted
$2,428,323
Due to Village of
Escrow Agreement
6,390,527
Elk Grove Village
450,000
8,818,850
Accrued Interest
'
Payable
115,620
Receivables
Deferred Revenues
529,785
Accounts
77,200
1,109,734
Long -Term Liabili-
ties
Rebate Payable
138,788
Due to Village of
'
Elk Grove Village
3,425,000
3,563,788
Total Liabili-
ties
4,673,522
Fund Equity
Retained Earnings
4,222,528
'
Total Liabili-
ties and
Total Assets
8,896,050
Fund Equity
8,896,050
'
34
' VILLAGE OF DEERFIELD, ILLINOIS
' NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1991
'
16. Joint Ventures (Cont.)
'
B. High -Level Excess Liability Pool (HELP) (Cont.)
Summary Financial Information of Joint Venture (Cont.)
'
Summary of Revenues, Expenses, and Changes
in Retained Earnings for the
year ended April 30, 1991:
Operating Revenues
$ 965,000
Operating Expenses
44,190
'
Operating Income
920.810
Nonoperating Revenues (Expenses)
Interest Income
540,238
Interest Expense
(265.046)
275.192
'
Net Income
1,196,002
Retained Earnings
'
May 1
3.026,526
April 30
4,222,528
Government's Share of Assets, Liabilities,
Fund Equity
and Changes for
the year ended April 30, 1991:
'
Balances
Increases
Balances
May 1
(Decreases)
April 30
'
Total Assets $291,320
28,048
319.368
Total Liabilities 182,062
(14,283)
167,779
'
Fund Equity
Retained Earnings 109.258
042:331!
151.589
Total Liabilities
and Fund Equity 291.320
C28..048')
319.368
'
Government's Share of Net Income
`42.331 ;
c
35
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1991
16. Joint Ventures (Cont.)
B. High -Level Excess Liability Pool (HELP) (Cont.)
Summary Financial Information of Joint Venture (Cont.)
Joint Venture Debt - Changes in Long -Term Debt
Balances Balances
May 1 Issuances Retirements April 30
Due to Village of
Elk Grove Village
for Retirement of
General Obligation
Bonds $4,275,000 - 400,000 3,875,000
Joint Venture Debt - Security for the Debt
The Village of Elk Grove Village, Illinois (the initial Host Member)
issued $5,000,000 of general obligation bonds in 1987 to provide
initial funding for the, Agency. The bond proceeds were put into escrow
with LaSalle National Bank as escrow agent. An intergovernmental
agreement among the Agency, the Village of Elk Grove Village, and the
Members provides that the Agency and its Members are obligated to the
Village of Elk Grove Village for payment of principal and interest on
the bonds until such bonds have been retired. Additionally each Member
is liable for its proportionate share of any default by other Members.
The obligations of the Agency and its Members are unconditional.
C. 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 Act 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.
ffl.,
1
' VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
' APRIL 30, 1991
' 16. Joint Ventures (Cont.)
C. Solid Waste Agency of Lake County (SWALCO) (Cont.)
Description of Joint Venture (Cont.)
' % %
Share Share
Antioch
1.06%
Lindenhurst
1.45%
Beach Park
1.65
Long Grove
1.42
Deer Park
.74
Mundelein
4.12
Deerfield
4.25
North Barrington
.66
'
Grayslake
1.46
North Chicago
3.13
Green Oaks
.47
Park City
.86
Gurnee
3.11
Riverwoods
.94
'
Hawthorn Woods
1.07
Round Lake
.61
Highland Park
8.03
Round Lake Beach
2.55
Kildeer
.67
Round Lake Park
.64
Lake Barrington
1.16
Third Lake
.24
'
Lake Bluff
1.61
Vernon Hills
3.36
Lake County
19.88
Wadsworth
.39
'
Lake Forest
Lake Villa
6.13
- .55
Wauconda
Waukegan
1.31
12.15
Lake Zurich
3.21
Winthrop Harbor
1.08
Libertyville
4.38
Zion
3.92
'
Lincolnshire
_
1.74
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.
'
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
officers of the
municipality. Each
Agency are appointed
Director has an equal vote. The
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.
37
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1991
16. Joint Ventures (Cont.)
C. Solid Waste Agency of Lake County (SWALCO) (Cont.)
Summary Financial Information of Joint Venture
The Agency was formed on February 21, 1991 and has a fiscal year end of
April 30. No audit was performed for the year ended April 30, 1991.
There was no outstanding debt at April 30, 1991. An audit will be
performed as of April 30, 1992.
17. 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.
18. Post - Employment Health Care Benefits
In addition to providing pension benefits, the government provides certain
health care and life insurance benefits for all retired employees.
Substantially all of the government's employees may become eligible for
those benefits if they reach normal retirement age while working for the
government. The cost of retiree health care benefits is recognized as an
expenditure as claims are paid. For the fiscal year those costs total
$625. The retirees pay an annual premium which is equal to the actuarially
determined cost for each plan year. Accordingly no liability has been
recorded for post- retirement health care benefits.
38
1
' VILLAGE OF DEERFIELD, II:LINOIS
NOTES TO THE FINANCIAL STATEMENTS
' APRIL 30, 1991
19. Employee Retirement Systems
tA. 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 December 31, 1990, was
$4,568,940. Of this amount, $2,800,891 in payroll earnings were
treported 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
t
39
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 State Statute.
'
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
s(entry age-normal); for 1990 the rate was 11.78 percent.
'
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 State Statutes
(Chapter 108 1/2 Article 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, 1991 was $1,565,933 out of a
total payroll of $4,623,833. At April 30, 1991 the Police Pension Plan
Membership consisted of:
t
39
19.
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1991
Employee Retirement Systems (Cont.)
A. Plan Descriptions and Provisions (Cont.)
Police Pension (Cont.)
Retirees and Beneficiaries Currently Receiving
Benefits and Terminated Employees Entitled to
Benefits but not yet Receiving Them 10'
Current Employees
Vested 22
Nonvested 15
Total iz
The following is a summary of the Police Pension Plan as provided for
in Illinois State 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.
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)
C- actuarially, determined by an enrolled: actuary. By the year 2020 the
government's contributions must accumulate to the point where the past
service cost for the Police Pension Plan is fully funded.
40
1
' VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
'. APRIL 30, 1991
1
19. Employee Retirement Systems (Cont.)
' B. Summary of Significant Accounting Policies and Plan Asset Matters
' 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 represented by
tinsurance company separate accounts'are reported at market value.
Significant Investments
' There are no investments (other than U. S. government and U. S.
government- guaranteed obligations) in any one organization that
' represent five percent or more of net assets available for benefits.
Related Party Transactions
' There are no securities of the employer or any other related parties
included in plan assets, including any loans.
'
C. Funding Status and Progress
The amount shown below as the C 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 assetsJ�to.pay benefits
when�due, and make compar !s -oris- -among " employer,s-..? The measure is the
- -
actuarial present value of credited protected` benefits) and is
independent of the funding method used to determine contributions to
the System.
P$Q. Nf'lMA
41
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1991
19. Employee Retirement Systems (Cont.)
C. Funding Status and Progress (Cont.)
Illinois
Municipal Police
Retirement Pension
December 31, �ApriT 3Q,J
Actuarial Valuation Date 1990 1(l 941
Significant Actuarial
Assumptions
a) Rate of Return on Invest- `3.00%)
ment of Present and compounded
Future Assets) ji annually
�301F `,
75 S�
b) Projected Salary 4 X4.25 %)
Increases - Attribut- compounded
able to Inflation annually
c) Additional Projected
Salary Increases -
Attributable to
Seniority /Merit
d) Postretirement Benefit
Increases
42
1.00%
09.00%
compounded
annually
06_.50%
compounded
annually
(Note - separate
information for b)
and c) not available
3.00% 3.00%
simple interest
annually
n
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
' APRIL 30, 1991
1
19. Employee Retirement Systems (Cont.)
C. Funding Status and Progress (Cont.)
'
Illinois
Totals
Municipal
Police
(Memorandum
Retirement
Pension
Only)_
'
Pension Benefit Obligation
Retirees and Beneficiaries
Currently Receiving
Benefits and Terminated
(Note)
Employees not yet
Receiving Benefits $
118,185
2,493,998
2,612,183
'
Current Employees
Accumulated Employee
Contributions
'
Including Allocated
Investment Earnings
1,155,200
1,045,945
2,201,145
Employer - Financed Vested
2,795,280
2,677,813
5,473,093
Employer - Financed
'
Nonvested
395,785
91,325
487,110
Total Pension_ Benefit
Obligation
4,464,450
6,309,081
10,773,531
Net Assets Available for
Benefits, at Lower of
'
Cost or Market
2,320,255
7,494,864
9,815,119
(Market Values)
(IMRF - $ 2,366,605)
(Police - 7,595,295)
(Totals 9,99,9 ®)
Unfunded (Assets in Excess of)
Pension Benefit Obligation
2,144,195
(1,185,783)
958,412
(Note) The pension benefit obligation applicable to
retirees and
beneficiaries currently
the above schedule due
receiving benefits is not included in
to the fact that this obligation was
transferred from the government
to
IMRF as a whole when the
annuity became payable.
43
19.
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1991
Employee Retirement Systems (Cont.)
C. Funding Status and Progress (Cont.)
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 have been no current -year changes in the actuarial assumptions
and benefit provisions.
D. Contributions Required and Contributions Made
Illinois Municipal Retirement and Police Pension
The Systems' funding policy provides for actuarially determined peri-
odic 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 System used
the level percentage of payroll method, while the Police Pension System
used a level dollar amount 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 in C. above.
44
VILLAGE OF DEERFIELD, ILLINOIS
'
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1991
19. Employee Retirement Systems (Cont.)
'
D. Contributions Required and Contributions Made (Cont.)
Illinois
Totals
Municipal
Police
(Memorandum
Retirement
Pension
Only)
December 31,
April 30,
t
Actuarial Valuation Date 1990
1991
Actuarially Determined Contri-
bution Requirement - Employer
As a Dollar Amount
Normal Cost $194,381
111,318
305,699
Amortization of Unfunded Actu-
'
arial Accrued Liability 120,438
31,439
151,877
Death and Disability Cost 15.124
15.124
_329,943
142,757
4721700
As a %,of Current Covered Payroll
'
Normal Cost 6.94%
7.10;
Amortization of Unfunded Actu-
n3.48
arial Accrued Liability 4.30
2.01
Death and Disability Cost 54
11.78
9.11
110.82
Contribution Made
As a Dollar Amount
Employer $329,945
155,284
485,229
Employee _126,040
136,638
262.678
455,985
291,922
747,907
As a % of Current Covered Payroll
'
Employer 11.788
09.92 "j
11.11
Employee r4 50
- -8.73-
6.02
'
16 -.-28
— 18.65
17.13
Effects on the Contribution Requirements of Current -Year
Changes
Illinois Municipal Retirement
.,
The new actuarial assumptions adopted in 1990 have been incorporated
into the 1992 contribution rates. The net effect of these changes is
estimated to increase contributions by 1% or less of payroll. Separate
dollar effects of each change were not economically determinable
by
'
IMRF.
45
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1991
19. Employee Retirement Systems (Cont.)
D. Contributions Required and Contributions Made (Cont.)
Police Pension
There have been no current -year changes in the actuarial assumptions,
actuarial funding method, or benefit provisions.
E. 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.
46
Year
Illinois
Municipal
Retirement
Police
Pension
Totals
(Memorandum
Only)
Net Assets Available for Bene-
1989
'� 47.44X;
0118.00
90.21
fits as a % of the Pension
1990
50.75'
C123.00', ,
93.86
Benefit Obligation (PBO)
1991
051.97 !
`118.79`:
91.10
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 approximately adjusts
1989
65.21
(63.00)
19.95
for the effects of inflation
1990
65.19
(81.00)
13.08
for analysis purposes)
1991
76.55
(75.72)
21.95
Employer Contributions
`
As a % of Annual Covered
1989
8.08:
X11.26, -'
9.20
Payroll
1990
10.10
X11.00;
10.42
1991
(-11.78 .
9.92
11.11
Required
1989
$204,352
142,707
347,059
1990
266,280
133,613
399,893
1991
329,943
142,757
472,700
Made
1989
204,352
155,430
359,782
1990
266,280
160,461
426,741
1991
329,945
155,284
485,229
46
GOVERNMENTAL FUND TYPES
0
GENERAL FUND
1
1
1
1
1
1
1
GENERAL FUND
' General Find - (also referred to as the Corporate Fund)
To account for resources traditionally associated with governmental services not
' required to be accounted for in another fund.
1
1
1
1
1
I
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
GENERAL FUND
BALANCE SHEET
APRIL 30, 1991
ASSETS
Cash and Investments
Receivables
Accrued Interest
Other
Due from Other Governments
Sales Tax
State Income Tax
Court Fines
Due from Other Funds
Inventory
Investment in Joint Venture - HELP
Total Assets
LIABILITIES AND FUND BALANCE
Liabilities
Accounts Payable
Accrued Payroll
Contracts Payable
Compensated Absences Payable
Other Payables
Due to Other Funds
Total Liabilities
Fund Balance
Reserved for Due from Other Governments
Reserved for Long -Term Interfund Receivable
Reserved for Inventory
Reserved for Investment in Joint Venture - HELP
Unreserved
Designated - Capital Improvements
' Undesignated
Total Fund Balance
tTotal Liabilities and Fund Balance
' See accompanying Notes to the Financial Statements.
47
1991 1990
$5,403,790 4,905,488
70,644
63,064
92,996
68,855
131,302
129,962
131,801
25 78,752
33,815
-Ta 21,123
1,722,27
1,457,098
21,056
12,780
94.288
67.958
7.701,969 6,805.080
88,870 95,551
79,081 70,899
34,599
534,635 295,208
7,356 6,363
12.369
744.541 480.390
0296;_918 229,837
1,320,000 820,000
21,056 12,780
94,288 67,958
3,500,000 3,500,000
1.725.166 1.694.115
_6,957.428 6.324.690
7,701,969 6,805.080
VILLAGE OF DEERFIELD, ILLINOIS
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1991
Revenues
Taxes
Licenses and Permits
Intergovernmental
Charges for Services
Fines and Forfeits
Interest
Miscellaneous
Total Revenues
Expenditures
General Government
Public Safety
Total Expenditures
Excess (Deficiency) of Revenues
over Expenditures
Other Financial Sources (Uses)
Operating Transfers In (Out)'
Youth Bound Fund
Transportation Fund
Tax Incremental Finance District
2 Fund
Brickyard Park Fund
Project 29 Fund
Refuse Fund
Special Assessment Fund
Excess (Deficiency) of Revenues and
Other Financing Sources over Expen-
ditures and Other Financing Uses
Fund Balance
May 1
Residual Equity Transfer In
April 30
1991 1990
Budget Actual Actual
$3,465,000
3,547,490
3,304,093
230,000
201,266
191,498
8,000
9,208
96,500
108,245
105,522
230,000
311,703
254,610
260,000
534,200
372,188
242,000
331.583
903.283
4,531.500
5,034,487
5,140,402
1,532,600 1,388,758 1,377,270
_2,975,480 2,907,502 2,646,391
4,508,080 4,296,260 4,023,661
23.420 738.227 1.116.741
(2,500)
(74,500)
(2,000)
(38,023)
750
33,784
(100,000)
(4,000)
(2,000)
(47,649)
4.416
(77.000) (105.489) (49.233)
(53,58800) 632.738 1.067.508
6,324,690 4,136,585
1.120.597
6,324,690 5.257,182
6,957.428 6,3244690
See accompanying Notes to the Financial Statements.
48
'
VILLAGE OF DEERFIELD, ILLINOIS
GENERAL FUND
SCHEDULE
OF REVENUES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1991
Budget
Actual
'
Taxes
Sales Tax
$2,100,000
2,014,151
Local Use Tax
52,763
Income Tax
615,000
640,587
'
Hotel Motel Tax
750,000
809,853
Photofinishing Tax
30.136
'
3.465.000
3.547.490
Licenses and Permits
Beer /Liquor Licenses
48,000
57,899
Food Licenses
4,500
4,919
Other Business Licenses
13,500
9,396
Building Permits
125,000
85,628
Animal Licenses
6,500
6,648
Non - Business Licenses and
Permits 32.500
36.776
230.000
201.266
Intergovernmental
State Grants
8.000
Charges for Services
'
Special Police Services
45,500
49,736
Transfer Charges
45,000
45,000
Engineering Charges
6.000
13.509
'
96.500
108.245
Fines and Forfeits
230.000
311.703
Interest
260.000
534.200
Miscellaneous
False Alarms
50,000
51,570
Sale of Materials
1,672
Rentals
Miscellaneous
40,000
22,000
49,522
53,820
Franchise Fees
130,000
148,669
Income from Joint Venture
26.330
'
242.000
331.583
Total Revenues
4,531.500
5,034.487
--
1
1
49
VILLAGE OF DEERFIELD, ILLINOIS
GENERAL FUND
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1991
Budget Actual
General Government
Administration Department
Salaries
$ 750,750
733,050
Overtime
14,170
4,543
Part -Time
96,600
78,846
Employee Benefits
112,200
98,843
Professional Services
163,480
120,536
Travel, Training and Dues
22,850
23,550
Printing and Advertising
16,300
18,662
Communications
20,000
22,595
Insurance
71,000
40,878
Contractual Services
65,700
109,128
Utility Services
3,500
6,794
Motor Vehicle Maintenance
7,600
6,269
Repairs and Maintenance
24,500
4,030
Equipment Rental
803
Rental Property Repairs
4,000
1,179
Miscellaneous
34,400
15,609
Supplies
31,550
35,049
Materials
1,000
Motor Vehicle Supplies
2,000
2,242
Housing Assistance
38,000
26,700
Apparel
500
79
Small Tools and Equipment
1,000
334
Equipment
18,200
15,491
Office Furniture
1,160
Motor Vehicles
11,000
Improvements other than Buildings
22.300
22.388
Total General Government
1.532.600
1.388.758
Public Safety
Police Department
Administrative Service
Salaries
504,420
525,275
Overtime
3,670
4,022
Part -Time
25,830
13,371
Employee Benefits
72,300
46,326
Professional Services
5,000
807
Travel, Training and Dues
4,800
2,907
Printing and Advertising
6,400
4,658
Communications
45,800
42,290
Insurance
128,000
102,917
Contractual Services
52,100
38,723
Motor Vehicle Maintenance
1,800
2,839
Repairs and Maintenance
18,000
11,647
50
1
1
1
1
L
1
1
1
1
I
1
1
1
1
1
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
GENERAL FUND
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED APRIL 30, 1991
Public Safety (Cont.)
Police Department (Cont.)
Administrative Service (Cont.)
Supplies
Motor Vehicle Supplies
Apparel
Equipment
Improvements Other than Buildings
Miscellaneous
Investigations
Salaries
Overtime
Employee Benefits
Travel, Training and Dues
Contractual Services
Motor Vehicle Maintenance
Repairs and Maintenance
Supplies
Motor Vehicle Supplies
Apparel
Equipment
Patrol
Salaries
Overtime
Part -Time
Employee Benefits
Travel, Training and Dues
Contractual Services
Motor Vehicle Maintenance
Repairs and Maintenance
Supplies
Motor Vehicle Supplies
Apparel
Equipment
Motor Vehicles
Special Services
Salaries
Overtime
51
Budget Actual
$ 15,000
14,777
1,000
876
5,100
5,100
10,000
23,166
28,050
20,014
8,800
254
908,020
859,969
136,500
127,177
10,500
4,126
18,920
16,686
2,000
468
28,050
27,074
3,500
817
2,000
38
3,500
3,607
1,000
1,572
1,800
1,800
750
12,944
208,520
183,365
1,188,680
1,258,705
58,800
36,634
43,090
33,645
169,410
135,792
28,000
18,,141
965
24,600
32,986
2,000
2,478
8,100
6,080
25,000
25,996
22,400
12,944
8,650
14,981
36,000
35,876
1,614,730
1,615,223
21,050 32
15,539
21,050 15,571
VILLAGE OF DEERFIELD, ILLINOIS
GENERAL FUND
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED APRIL 30, 1991
52
Budget
Actual
Public Safety (Cont.)
Police Department (Cont.)
Youth Services
Salaries
$ 173,250
201,263
Overtime
5,880
2,604
Employee Benefits
22,500
20,824
Travel, Training and Dues
1,600
952
Contractual Services
90
Motor Vehicle Maintenance
4,800
2,057
Repairs and Maintenance
1,000
393
Supplies
930
1,136
Motor Vehicle Supplies
2,000
1,533
Apparel
1,200
1,200
Equipment
1,000
1,322
Motor Vehicles
9.000
223.160
233.374
Total Public Safety
2.975.480
2.907.502
Total Expenditures
4.508.080
4.296.260
52
SPECIAL REVENUE FUNDS
1
SPECIAL REVENUE FUNDS
IMunicipal 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 Serviceslpisaster 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.
' Youth Bound Fund
Accounts for the revenues collected and the expenditures incurred for this
unique and very successful youth project of the Deerfield Police Department.
'
LibraKy Fund
I To account for the resources necessary to provide the educational, cultural and
recreational activities of the Deerfield Public Library.
' 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 a portion of F.I.C.A. Contributions.
' Public Benefit Fund
To account for the public benefit portion of local improvements installed under
the special assessment procedure of financing is paid from this fund.
1
1
1
1
I SPECIAL REVENUE FUNDS (CONY.)
' 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 required 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.
1 Enhanced 911 Fund
ITo account for the 911 calling telephone system activity.
1
1
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1
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1
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1
VILLAGE OF DEERFIELD, ILLINOIS
MUNICIPAL AUDIT FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1991,
55
1991
1990
Budr -et
Actual
Actual
Revenues
Taxes
Property Taxes
$12,500
12,496
12,370
Interest
32
41
Total Revenues
12,500
121*528
12,411
Expenditures
Miscellaneous
Contractual
13.500
13.450
12.400
Excess (Deficiency) of Revenues
Over Expenditures
�1 0,00)
(922)
11
Fund Balance
May 1
11.087
11.076
April 30
1
1108
55
VILLAGE OF DEERFIELD, ILLINOIS
EMERGENCY SERVICES /DISASTER FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1991
1991 1990
Budy,et Actual Actual
Revenues
Taxes
Property Taxes $ 5,000 4,999 5,166
Interest 37 20
Total Revenues 5.000 5.036 5.186
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 Balance
May 1
April 30
700
433
1,500
1,663
1,846
600
259
263
300
210
194
100
107
86
1,300
105
325
200
34
1,000
1,348
1,015
500
30
348
500
6.700
3.756
4.510
1 700) 1,280 676
18.060 17.384
19 340 1
See accompanying Notes to the Financial Statements.
56
1
VILLAGE OF DEERFIELD, ILLINOIS
YOUTH BOUND FUND
1 STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1991
1
' See accompanying Notes to the Financial Statements.
57
1991
Budget Actual
1990
Actual
Revenues
'
Charges for Services
Project Income
- -
-
Expenditures
Culture and Recreation
Insurance
1,071
Motor Vehicle Maintenance
165
Supplies
150
Communications
1,318
Contractual
194
Total Expenditures
- -
2.898
Excess (Deficiency) of Revenues
over Expenditures
- -
(2,898)
Other Financing Sources
Operating Transfers In
General Fund
- -
4.000
Excess (Deficiency) of Revenues and
Other Financing Sources over-Expendi-
tures
-
1,102
Fund Balance
May 1
$5,412
4.310
April 30
510
1
1
' See accompanying Notes to the Financial Statements.
57
VILLAGE OF DEERFIELD, ILLINOIS
LIBRARY FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1991
Expenditures
Culture and Recreation
Excess (Deficiency) of Revenues
over Expenditures
Fund Balance
May 1
April 30
1.169.419 962.517 915.084
® 180,029
263.796
443,825
See accompanying Notes to the Financial Statements.
58
7,977
255.819
26
1991
1990
Budget
Actual
Actual
Revenues
Taxes
Property Taxes
$ 855,187
907,891
757,954
Replacement Taxes
16,000
16,362
18,022
Intergovernmental
Grants
17,432
17,432
17,432
Charges for Services
Non - Resident Fees
12,500
15,325
14,400
Fees, Fines, Penalties
28,500
32,230
30,953
Reciprocal Borrowing
4,000
9,583
2,088
Xerox
9,300
11,279
10,954
Videos
29,000
26,712
30,069
Interest
37,000
39,775
40,449
Miscellaneous
Gifts
500
2,022
165
Reserve for Repairs and Replacement
160,000
575
Tax Incremental Finance District
Surplus Rebate
63.935
Total Revenues
1,169,419
1,142,546
923,061
Expenditures
Culture and Recreation
Excess (Deficiency) of Revenues
over Expenditures
Fund Balance
May 1
April 30
1.169.419 962.517 915.084
® 180,029
263.796
443,825
See accompanying Notes to the Financial Statements.
58
7,977
255.819
26
1
1
1
1
1
1
1
1
1
1
1
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
LIBRARY FUND
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1991
Culture and Recreation
Salaries - Professional
Salaries - Non - Professional
Employee Benefits
Professional Services
Education, Travel and Dues
Communication
Insurance
Contractual Services
Utilities
Repairs, Maintenance of Building and
Equipment Building Supplies
Supplies - Library and Office
Books
Periodicals
Audio - Visual
Binding
Special Library Programs
Data Base
New Equipment -
Printing
Computer Service
Cataloging Service
Miscellaneous
Automation Project
Improvements - Other than Building
Total Expenditures
59
Budget Actual_
$ 243,426
235,196
342,131
318,096
32,500
35,726
7,600
7,841
5,500
3,720
9,500
9,721
20,000
13,017
9,500.
11,856
1,000
748
120,000
41,002
21,000
19,118
96,000
98,437
30,000
32,167
20,000
16,935
1,500
1,336
4,000
3,972
1,500
1,385
10,000
8,676
6,000
7,977
680
6,000 3,453
1,000 808
101,262 90,650
80.000
1169,419 962 517
VILLAGE OF DEERFIELD, ILLINOIS
STREET AND BRIDGE FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1991
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
Leaf Removal
Tree Removal
Tree Planting
Railroad Station Maintenance
Total Expenditures
Excess (Deficiency) of Revenues
over Expenditures
Other Financing Sources (Uses)
Operating Transfers In (Out)
Commuter Parking Lot Fund
Replacement Fund
158,290
1991
138,443
1990
36,495
Budget
Actual
Actual
49,100
105,210
101,438
96,288
Revenues
41,800
37,257
27,000
Taxes
24,107
126,540
117,186
Property Taxes
$330,000
329,914
344,015
Other Taxes
195,000
195,000
190,000
Licenses and Permits
15,425
Vehicle Licenses
340,000
335,591
329,788
Charges for Services
24,054
26,118
33,470
State Highway Maintenance
23,000
23,522
22,492
50/50 Sidewalk and Curb
20,000
16,996
19,978
50/50 Tree
5,000
4,397
9,863
Train Station Maintenance
1,500
1,500
Traffic Signal Reimbursement
3,000
5,974
6,007
Interest
25,000
37,356
30,620
Miscellaneous
Other
5,000
12,226
5,084
Total Revenues
947,500
962,476
957,847
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
Leaf Removal
Tree Removal
Tree Planting
Railroad Station Maintenance
Total Expenditures
Excess (Deficiency) of Revenues
over Expenditures
Other Financing Sources (Uses)
Operating Transfers In (Out)
Commuter Parking Lot Fund
Replacement Fund
158,290
172,483
138,443
42,360
36,495
35,557
52,240
51,845
49,100
105,210
101,438
96,288
55,950
41,800
37,257
27,000
28,177
24,107
126,540
117,186
105,687
98,960
93,196
89,283
116,380
141,976
212,295
21,610
13,524
15,425
41,383
45,480
37,156
38,597
20,230
24,054
26,118
33,470
26,120
29,863
903,720
885,450
939,403
Excess (Deficiency) of Revenues and Other
Financing Sources over Expenditures and
Other Financing Uses
Fund Balance
May 1
April 30
See accompanying Notes to the Financial Statements.
60
43,780 77,026 18,444
50,000 50,000 40,000
(63,530) (63,530) (63,000)
(13,530) (13,530) (23,000)
3 63,496 (4,556)
200,504 205,060
264 , 000 200 504
1
tVILLAGE OF DEERFIELD, ILLINOIS
STREET AND BRIDGE FUND
' SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1991
Eli
Budget Actual
Highways and Streets
Public Works
Administration
Salaries $ 52,020 78,270
Overtime 6,900 5,633
Employee Benefits 8,350 8,112
Professional Services 500
'
Travel, Training and Dues
2,200
1,709
Printing and Advertising
4,600
3,965
Communications
7,820
4,012
Insurance
Motor Vehicle Maintenance
58,500
2,900
49,373
4,208
Miscellaneous
2,000
3,136
Supplies
4,200
5,375
Motor Vehicle Supplies
1,500
1,453
Apparel
1,800
1,629
Repairs and Maintenance
2,000
1,560
Contractual
3.000
4.048
'
158.290
172.483
'
Cleaning
Salaries
18,930
16,175
Overtime
1,260
423
Employee Benefits
2,420
2,306
Small Tools and Equipment
750
795
Contractual
3,700
438
Motor Vehicle Maintenance
4,650
3,681
Repairs and Maintenance
5,500
8,869
Equipment Rental
1,500
36
Motor Vehicle Supplies
1,850
1,579
Supplies
1,800
2.193
42.360
36.495
Traffic Marking
Salaries
22,620
22,199
Overtime
340
228
Part -Time
2,730
2,707
Employee Benefits
3,380
3,151
'
Motor Vehicle Maintenance
1,170
1,290
Repairs and Maintenance
1,000
Motor Vehicle Supplies
500
Materials
4,000
5,749
Street Signs
6,500
6,453
Contractual
10,000
10.068
52.240
51.845
61
VILLAGE OF DEERFIELD, ILLINOIS
STREET AND BRIDGE FUND
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED APRIL 30, 1991
Budget Actual
Highways and Streets (Cont.)
25,060
20,388
Public Works (Cont.)
660
92
Pavement Patching
3,640
3,605
Salaries
$ 45,660
41,363
Overtime
1,320
16
Employee Benefits
5,000
5,710
Motor Vehicle Maintenance
5,830
10,735
Repairs and Maintenance
5,500
1,302
Supplies
600
9,205
Motor Vehicle Supplies
2,000
1,082
Aggregates
37,300
40,335
Materials
2.000
895
4,577
105,210
101,438
Tarring Cracks
Salaries
25,060
20,388
Overtime
660
92
Part -Time
3,640
3,605
Employee Benefits
2,740
2,730
Motor Vehicle Maintenance
1,650
1,202
Repairs and Maintenance
2,100
1,009
Motor Vehicle Supplies
3,000
592
Aggregates
600
1,520
Materials
14,000
9,205
Equipment Rental
2,500
1.457
55,950
41.800
Drainage Structures
Salaries
13,710
15,902
Overtime
1,000
816
Employee Benefits
3,360
2,162
Motor Vehicle Maintenance
2,330
2,729
Repairs and Maintenance
2,300
425
Motor Vehicle Supplies
300
113
Aggregates
1,500
1,889
Materials
2.500
4,141
27,000
28.177
Street Lights and Traffic Signals
Salaries
11,550
18,887
Overtime
1,260
4,577
Employee Benefits
1,230
2,505
Contractual
31,000
24,963
Utility Services
63,300
54,241
Motor Vehicle Maintenance
1,750
2,317
Repairs and Maintenance
2,000
437
62
I
1
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1
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1
1
1
L
1
1
I
1
1
VILLAGE OF DEERFIELD, ILLINOIS
STREET AND BRIDGE FUND
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.).
FOR THE YEAR ENDED APRIL 30, 1991
Budget Actual
Highways and Streets (Cont.)
Public Works (Cont,)
Street Lights and Traffic Signals (Cont.)
Equipment Rental $ 1,000 1,422
Motor Vehicle.Supplies 800 1,298
Aggregates 400 891
Materials 10,000 3,785
Equipment 2,250 1,863
126,540 117,186
Miscellaneous Maintenance
Salaries
18,230
13,464
Overtime
2,310
1,738
Employee Benefits
4,000
1,555
Contractual
55,700
57,835
Motor Vehicle Maintenance
1,170
3,304
Repairs and Maintenance
3,000
3,320
Small Tools and Equipment
650
169
Miscellaneous
1,300
40
Motor Vehicle Supplies
600
46
Aggregates
4,000
3,258
Materials
6,000
8,467
Equipment Rental
_ 2,000
1,624
98.960
93.196
Snow and Ice Control
Salaries
20,130
19,606
Overtime
10,400
28,573
Employee Benefits
2,090
3,261
Communications.
1,800
Motor Vehicle Maintenance
8,160
20,757
Repairs and Maintenance
18,000
23,943
Equipment Rental
1,000
Supplies
2,500
703
Motor Vehicle Supplies
5,300
3,842
Salt
40,000
35,685
Aggregates
5,000
3,982
Materials
2,000
1,624
116,380
141.976
Weed Control
Salaries 8,940 2,194
Overtime 120
Part -Time 2,730 2,685
Employee Benefits 850 436
Motor Vehicle Maintenance 1,170 2,818
Repairs and Maintenance 3,800 3,673
63
VILLAGE OF DEERFIELD, ILLINOIS
STREET AND BRIDGE FUND
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED APRIL 30, 1991
Budget Actual
Highways and Streets (Cont.)
6,900
9,882
Public Works (Cont.)
440
151
Weed Control (Cont.)
1,100
1,386
Motor Vehicle Supplies
$ 500
1,073
Materials
3,000
132
Equipment
500
513
Motor Vehicle Supplies
21.610
13.524
Materials
Tree Removal
2.248
Materials
Salaries
13,100
9,255
Overtime
660
1,086
Part -Time
4,900
4,866
Employee Benefits
1,500
1,596
Contractual
21,000
17,626
Motor Vehicle Maintenance
820
1,175
Repairs and Maintenance
1,000
426
Motor Vehicle Supplies
400
632
Materials
1,100
494
Equipment
500
Equipment Rental
500
45.480
37.156
Tree Planting
Salaries
6,900
9,882
Overtime
440
151
Employee Benefits
1,100
1,386
Contractual
10,000
9,315
Motor Vehicle Maintenance
590
307
Repairs and Maintenance
300
429
Motor Vehicle Supplies
400
336
Materials
500
2.248
Materials
20.230
24.054
Railroad Station Maintenance
Salaries
8,710
6,055
Overtime
1,050
539
Part -Time
4,690
4,649
Employee Benefits
2,420
923
Contractual Services
3,300
4,921
Repairs and Maintenance
3,300
2,731
Supplies
1,500
555
Aggregates
600
Materials
7.900
5.747
33.470
26.120
Total Expenditures
903,720
885 450
64
1
1
1
1
1
1
1
1
1
t
1
1
1
1
1
1
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
ILLINOIS MUNICIPAL RETIREMENT FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1991
Expenditures
Miscellaneous
Illinois Municipal Retirement
Payments - Employer
FICA Payments - Employer
Excess (Deficiency) of Revenues
over Expenditures
Fund Balance
May 1
April 30
340,000 340,041 288,342
237,000 221,267 207.398
577,000 561.308 495.740
49,000 (61,968) (82,341)
See accompanying Notes to the Financial Statements.
65
(157,790)
(75.449)
1991
1990
Budget
Actual
Actual
Revenues
Taxes
Property Taxes
$610,000
489,872
401,945
Replacement Taxes
8,000
6,775
7,462
Interest
8,000
2,693
3,992
Total Revenues
626,000
499,340
413,399
Expenditures
Miscellaneous
Illinois Municipal Retirement
Payments - Employer
FICA Payments - Employer
Excess (Deficiency) of Revenues
over Expenditures
Fund Balance
May 1
April 30
340,000 340,041 288,342
237,000 221,267 207.398
577,000 561.308 495.740
49,000 (61,968) (82,341)
See accompanying Notes to the Financial Statements.
65
(157,790)
(75.449)
(219,758)
(157,790)
VILLAGE OF DEERFIELD, ILLINOIS
PUBLIC BENEFIT FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1991
1991 1990
Budget Actual Actual
Revenues - - -
Expenditures
General Government
Contractual -
Excess (Deficiency) of Revenues
over Expenditures - - -
Other Financing Sources
Operating Transfer In
Special Assessment Agency Fund - - S 57.324
Excess of Revenues and Other
Financing Sources over Expenditures - 57.324
Fund Balance
May 1 63,273
Residual Equity'Transfer Out (120.597)
- (57.324)
April 30 - -
See accompanying Notes to the Financial Statements.
66
VILLAGE OF DEERFIELD, ILLINOIS
MOTOR FUEL TAX FUND
'
STATEMENT
OF REVENUES, EXPENDITURES,
AND CHANGES IN
FUND BALANCE - BUDGET AND ACTUAL
FOR THE
YEAR ENDED APRIL 30, 1991
1991
1990
Budget
Actual
Actual
Revenues
Intergovernmental
Allotments Earned
$ 500,000
351,780
330,823
Interest
50,000
50,590
46.800
1
Total Revenues
550.000
402.370
377,623
Expenditures
Highways and Streets
'
Street Maintenance
195,000
195,000
190,000
Street Resurfacing and
Renovation Program
68,000
85,140
58.854
1
Total Expenditures
263,000
280,140
248.854
Excess of Revenues
over Expenditures
287,000
122,230
128,769
Fund Balance
May 1
618,889
490.120
April 30
74
618 889
See accompanying Notes to the
Financial Statements.
67
VILLAGE OF DEERFIELD, ILLINOIS
TRANSPORTATION FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1991
See accompanying Notes to the Financial Statements.
68
1991
1990
Budget
Actual
Actual
Revenues
Intergovernmental
Grant
$ 2,700
2,882
3,507
Expenditures
Miscellaneous
Transportation
5.100
5.153
5.844
Excess (Deficiency) of Revenues
over Expenditures
(2,400)
(2,271)
(2,337)
Other Financing Sources
,Operating Transfers In
General Fund
2.500
2.000
2.000
Excess (Deficiency) of Revenues and
Other Financing Sources over
Expenditures
100
(271)
(337)
Fund Balance
May 1
6.094
6.431
April 30
See accompanying Notes to the Financial Statements.
68
1
1
1
1
1
n
1
I
1
1
1
1
1
1
1
1
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
ENHANCED 911 FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1991
Expenditures
Public Safety
Contractual
Repairs and Maintenance
Equipment
Improvements Other than Buildings
Miscellaneous
Total Expenditures
Excess (Deficiency) of Revenues
over Expenditures
Fund Balance
May 1
April 30 _
75,400 44,488 3,251
850 23
75,000 63,243 60,455
220 37,740
2.578
150.400 111.379 101.469
(62,400) (28,352) (24,898)
(24,898) -
553,250) (24,898)
See accompanying Notes to the Financial Statements.
69
1991
1990
Budget
Actual
Actual
Revenues
Charges for Services
Other Charges
$ 84,000
83,025
76,299
Interest
4.000
2
272
Total Revenues
88.000
83.027
76,571
Expenditures
Public Safety
Contractual
Repairs and Maintenance
Equipment
Improvements Other than Buildings
Miscellaneous
Total Expenditures
Excess (Deficiency) of Revenues
over Expenditures
Fund Balance
May 1
April 30 _
75,400 44,488 3,251
850 23
75,000 63,243 60,455
220 37,740
2.578
150.400 111.379 101.469
(62,400) (28,352) (24,898)
(24,898) -
553,250) (24,898)
See accompanying Notes to the Financial Statements.
69
DEBT SERVICE FUND
�l
1
1
1
1
1
1
IDebt Service Fund
Li
1
1
1
1
1
1
1
1
DEBT SERVICE FUND
To account for the accumulation of resources for the payment of General Long -
Term Debt.
1
1
1
1
1
i
1
1
i
1
1
1
1
1
1
f
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
DEBT SERVICE FUND
BALANCE SHEET
APRIL 30, 1991
ASSETS
1991 1990
Cash and Investments $1,435,021 1,253,434
Receivables
Property Taxes 1,089,499 1,376,350
Accrued Interest 17.790 _ 12-204
Total Assets 2,542,310 2,641,988
LIABILITIES AND FUND BALANCE
Liabilities
Due to Other Funds
Deferred. Property Taxes
Total Liabilities
Fund Balance -.
Reserved for Debt Service
Total Liabilities and Fund Balance
See accompanying Notes to the Financial Statements.
70
21,220 63,129
1,226,344 1,515,935
1,247,564 1,579,064
1,294,746
1,062,924
2,542,310
2,641,988
VILLAGE OF DEERFIELD, ILLINOIS
DEBT SERVICE FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1991
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
Excess (Deficiency) of Revenues and
Other Financing Sources over
Expenditures
Fund Balance
May 1
Residual Equity Transfer
April 30
L
835,000 835,000 700,000
987,451 992,600 1,057,344
5,000 2,992 2,966
1,827,451 1,830,592
(143,650) 136,784 (101,657)
96.150 95.038 84.375
(47,500) 231.822 (17,282)
1,062,924 1,073,987
6.219
1,062,924 1,080.206
1,29® 1,0® 62®
See accompanying Notes to the Financial Statements.
71
1991
1990
Budget
Actual
Actual
Revenues
Taxes
Property Taxes
$1,558,801
1,544,970
1,503,082
Replacement Taxes
50,000
47,149
51,934
Interest
75,000
127,682
103,637
Miscellaneous
Tax Incremental Finance District
Surplus Rebate
247,575
Total Revenues
1,683,801
1,967,376
1,658,653
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
Excess (Deficiency) of Revenues and
Other Financing Sources over
Expenditures
Fund Balance
May 1
Residual Equity Transfer
April 30
L
835,000 835,000 700,000
987,451 992,600 1,057,344
5,000 2,992 2,966
1,827,451 1,830,592
(143,650) 136,784 (101,657)
96.150 95.038 84.375
(47,500) 231.822 (17,282)
1,062,924 1,073,987
6.219
1,062,924 1,080.206
1,29® 1,0® 62®
See accompanying Notes to the Financial Statements.
71
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VILLAGE OF DEERFIELD, ILLINOIS
DEBT SERVICE FUND
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1991
Budeet Actual
Debt Service
Sewerage Improvement Bond Series
of 1973
Principal
75,000
Interest
8,750
Sewerage Treatment Facility Bond
Series of 1973
Principal
125,000
Interest
21,250
Corporate Purpose Bond Series of.1982
Principal
50,000
Interest
30,025
Corporate Purpose Bond Series 1982
-A
Principal
50,000
Interest
16,750
Corporate Purpose Bond Series of
1986
Principal
410,000
Interest
712,363
General Obligation Bond Series of
1988
Principal
125,000
Interest
203,462
Fiscal Charges
2.992
Total Expenditures
$1,827,451 1,830,592
72
CAPITAL PROJECT FUNDS
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CAPITAL PROJECTS FUNDS
Tax Incremental Finance District 1 Fund
Established in 1982 to provide funds for land acquisition and improvements to
the Village of Deerfield Tax Increment Financing District.
Tax Incremental Finance District 2 Fund
Established in 1987 to provide fiords for land acquisition and improvements to
the Village of Deerfield Tax Increment Financing District.
Capital Improvement Series A Fund
Established in December, 1984, to provide funds for Storm Seger Improvements,
Sanitary Improvements and Street Rehabilitation Program.
CaQital Improvements Series B Fund
Established in December, 1985, to provide funds for major renovation to the
Storm and Sanitary Severs and a Street Rehabilitation Program.
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 Bates Road.
Vehicle Replacement Fund
Established to account for the funds annually set aside for the eventual
replacement of certain vehicles.
Brickyard Park Fund
Established in 1988 to account for the construction and engineering of a park
for Deerfield Park District located within the area known as The Brickyards.
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 sever and street
rehabilitation; the installment of a new 16 inch water main, and storm
drainage improvements.
1
CAPITAL PROJECTS FUNDS (CONT.)
Infrastructure Replacement Fund
Established in 1989 for the purpose of maintaining, repairing and renovating the
capital assets of the Village.
' Pro ect 29 Fund
' Established in 1990 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.
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' VILIAGE OF DEERFIELD, ILLINOIS
CAPITAL PROJECTS FUNDS
' COMBINING BALANCE SHEET
APRIL 30, 1991
1
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(See Following Page)
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PROPRIETARY FUND TYPES
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ENTERPRISE FUNDS
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I ENTERPRISE FUNDS
IWater Fund
To account for all activity necessary to provide eater 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
' 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.
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' VILLAGE OF DEERFIELD, ILLINOIS
ENTERPRISE FUNDS
' COMBINING BALANCE SHEET
APRIL 30, 1991
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ISee accompanying Notes to the Financial Statements.
7.5
t
Commuter
Parking
Totals
'
Water
Sewerage
Refuse
Lot
1991
1990
ASSETS
Current Assets
'
Cash and Investments
$1,744,544
1,366,455
383,558
3,494,557
3,109,766
Receivables
Property Taxes
645,640
645,640
550,354
Accrued Interest
17,968
11,045
29,013
12,695
'
Accounts
393,723
267,160
168,230
829,113
741,224
Other
141,460
8,996
150,456
171,534
Due from Other Funds
17,618
17,618
7,058
Inventories
Investment in Joint
27,838
6,740
34,578
48,005
Venture - Help
16.524
40.777
57,301
41,300
2,342,057
1,701,173
831,488
383,558
5,258,276
4,681,936
Fixed Assets (Net of
'
Accumulated Depreciation)
2.336.389
6.278.713
325,264
8,940,366
9 232 894
Total Assets
4.678.446
7.979.886
831.488
708.822
14.198 642
13,914,830
'
LIABILITIES AND FUND EQUITY
Current Liabilities
Accounts Payable
105,690
80,945
102,689
9,225
298,549
290,418
'
Accrued Payroll
4,31_0
12,595
288
17,193
10,522
Compensated Absences Payable
30,904
69,677
100,581
67,127
Other Payables
5,726
'
Due to Other Funds
Total Liabilities
140.904
163.217
118,367
221.056
9.513
118,367
534,690
66,059
439,852
Fund Equity
Contributed Capital
1,824,517
6,025,342
298,159
8,148,018
8,334,319
Retained Earnings
'
Unreserved
2.713.025
1.791.327
610.432
401,150
5,515,934
5 140 659
Total Fund Equity
4.537.542
7.816.669
610,432
699.309
13,663,952
13,474,978
Total Liabilities and
'
Fund Equity
4.678.446
7.979.886
831.488
708.822
14.198 642
13&9 14 830
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VILLAGE OF DEERFIELD, ILLINOIS
ENTERPRISE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN RETAINED EARNINGS - UNRESERVED
FOR THE YEAR ENDED APRIL 30, 1991
Net Income (Loss)
before Operating Transfers 192,919 (81,477) 9,663 81,399 202,504 230,971
Operating Transfers In 100,000 100,000
Operating Transfers (Out) (33.280) (30.250) (50,000) (113,530) (103,000)
(33.280) (30.250) 100.000 (50,000) (13,530) (103,000)
Net Income (Loss) 159.639 (111.727) 109.663 31,399 188,974 127,971
Other Changes in Retained. Earnings -
Water
Sewerage
Refuse
Commuter
Parking
Lot
1991
Totals
1990
Operating Revenues
Depreciation that Reduces
Charges for Services
Contributed Capital
43,012
116,262
Water Sales
$1,979,973
191,764
Intrafund Transfer,from
1,979,973
2,134,436
Sewer Charges
1,046,475
1,046,475
1,110,646
Refuse Billings
43.012
721,918
27.027
721,918
597,100
Parking Lot Fees
132,894
132,894
125,398
Surcharges
4,535 109,663
60,766
375,275
408,443
60,766
82,068
Miscellaneous
39.900
69.526
13.099
May 1
122 525
91,416
Total Operating Revenues
2.019.873
1.176.767
735.017
132,894
4,0641551
4 141 064
Operating Expenses Excluding
5,140.659
Depreciation
Administration
193,362
211,122
60,853
465,337
350,152
Operations
1.658.243
920.228
1.393.031
41,401
4,012,903
4 006 035
Total Operating Expenses
Excluding Depreciation
1.851.605
1.131.350
1.453.884
41,401
4,478,240
4 356 187
Operating Income (Loss)
before Depreciation
168,268
45,417
(718,867)
91,493
(413,689)
(215,123)
Depreciation
96.873
235.348
30.698
362,919
376,057
Operating Income (Loss)
71.395
(189.931)
(718.867)
60,795
(776,608)
(591,180)
Nonoperating Revenues (Expenses)
Interest Income
121,524
108,454
3,687
20,604
254,269
200,464
Property Taxes
724.843
724.843
621,687
121.524
108.454
728.530
20.604
979,112
822,151
Net Income (Loss)
before Operating Transfers 192,919 (81,477) 9,663 81,399 202,504 230,971
Operating Transfers In 100,000 100,000
Operating Transfers (Out) (33.280) (30.250) (50,000) (113,530) (103,000)
(33.280) (30.250) 100.000 (50,000) (13,530) (103,000)
Net Income (Loss) 159.639 (111.727) 109.663 31,399 188,974 127,971
Other Changes in Retained. Earnings -
Unreserved
Depreciation that Reduces
Contributed Capital
43,012
116,262
27,027
186,301
191,764
Intrafund Transfer,from
Restricted Accounts
88 708
43.012
116.262 -
27.027
186,301
280,472
Net Increase in Retained Earnings -
Unreserved
202,651
4,535 109,663
58,426
375,275
408,443
Retained Earnings - Unreserved
May 1
2.510.374
1.786,792 500.769
342,724
5,140,659
4 732 216
April 30
_2,713,025
1.791.327 610.432
401,150
5,515.934
5,140.659
See accompanying Notes to the Financial Statements.
76
1
1
1
1
1
1
1
r
1
1
1
1
1
1
1
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
ENTERPRISE FUNDS
COMBINING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED APRIL 30, 1991
Cash Flows from Noncapital Financing Activities
Operating Transfers In (Out)
Other Nonoperating Revenues
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 (Decrease) in Cash and
Cash Equivalents
Cash and Cash Equivalents
May 1
April 30
See accompanying Notes to the Financial Statements.
(33,280) (30,250) 100,000 (50,000) (13,530)
724.843 724,843
(33,280) (30.250) 824.843 (50.000) 711.313
(8.676) (61.715) - - (70,391)
(799,688) (680,425) (1,480,113)
466,878 466,878
121,524 108,454 3,687 20,604 254,269
(678,164) (105,093) 3,687 20,604 (758,966)
(569,059) (129,675) - 70,290 (628,444)
1,513,915 815,705 - 313,268 2,642,888
944,856 686,030 - 383,558 2,014,444
77
Commuter
Parking
Water
Sewerage
Refuse
Lot
Totals
Cash Flows from Operating Activities
Operating Income (Loss)
$ 71,395
(189,931)
(718,867)
60,795
(776,608)
Adjustments to Reconcile Net Income to
Net Cash Provided by Operating Activities
Depreciation
96,873
235,348
30,698
362,919
Changes in Assets and Liabilities
Receivables
(32,731)
(7,276)
(138,408)
(178,415)
Due from Other Funds
5,441
(16,001)
(10,560)
Inventories.
13,430
(3)
13,427
Investment in Joint Venture
(4,615)
(11,386)
(16,001)
Accounts Payable
(7,045)
14,429
(7,562)
8,309
8,131
Accrued Payroll
(1,012)
2,073
(116)
945
Compensated Absences Payable
14,766
18,688
33,454
Due to Other Funds
52,308
52,308
151.061
67,383
(828.530)
99.686
(510,400)
Cash Flows from Noncapital Financing Activities
Operating Transfers In (Out)
Other Nonoperating Revenues
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 (Decrease) in Cash and
Cash Equivalents
Cash and Cash Equivalents
May 1
April 30
See accompanying Notes to the Financial Statements.
(33,280) (30,250) 100,000 (50,000) (13,530)
724.843 724,843
(33,280) (30.250) 824.843 (50.000) 711.313
(8.676) (61.715) - - (70,391)
(799,688) (680,425) (1,480,113)
466,878 466,878
121,524 108,454 3,687 20,604 254,269
(678,164) (105,093) 3,687 20,604 (758,966)
(569,059) (129,675) - 70,290 (628,444)
1,513,915 815,705 - 313,268 2,642,888
944,856 686,030 - 383,558 2,014,444
77
VILLAGE OF DEERFIELD, ILLINOIS
WATER FUND
BALANCE SHEET
APRIL 30, 1991
1991 1990
ASSETS
Current Assets
Cash and Investments
Receivables
Accounts - Billed
- Unbilled
Accrued Interest
Other
Inventories
Investment in Joint Venture - HELP
Fixed Assets
Cost
Accumulated Depreciation
Total Assets
LIABILITIES AND FUND EQUITY
Current Liabilities
Accounts Payable
Accrued Payroll
Compensated Absences Payable
Fund Equity
Contributed Capital
Retained Earnings
Unreserved
Total Fund Equity
Total Liabilities and Fund Equity
See accompanying Notes to the Financial Statements,
78
$ 1,744,544 1,513,915
77,041 80,146
316,682 278,807
17,968
141,460 161,467
27,838 41,268
16,524 11,909
2,342,057 2,087,512
3,397,340 3,388,664
_(1,060,951) (964,078)
2,336,389 2,424,586
4,678,446 4,512,098
105,690 112,735
4,310 5,322
30,904 16,138
140,904 134,195
1,824,517 1,867,529
2,713,025 2,510,374
4,537,542 4,377,903
4,678,446 41512,098
tVILLAGE OF DEERFIELD, ILLINOIS
WATER FUND
STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN RETAINED EARNINGS - UNRESERVED - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1991
1
ISee accompanying Notes to the Financial Statement.
79
1991
1990
Budget
Actual
Actual
Operating Revenues
Charges for Services
Water Sales
$1,990,000
1,979,973
2,134,436
Miscellaneous
Permits and Fees
20,000
6,273
14,316
'
Penalties
Other
22,000
_4,000
20,991
12,636
20,457
5,610
Total Operating Revenues
2,036,000
2,019,873
2,174,819
Operating Expenses Excluding Depreciation
Administration
174,760
193,362.
169,699
Operations
Distribution
1,511,650
1,337,911
1,428,462
Maintenance - Mains and Fire
Hydrants
207,580
250,491
237,016
Maintenance - Meters
67,500
69,841
54,516
Total Operating Expenses
Excluding Depreciation
1,961,490
1,851,605
1,889,693
Operating Income
'
before Depreciation
74,510
168,268
285,126
Depreciation
96,873
104,125
Operating Income
74,510
71,395
181,001
Nonoperating Revenues
Interest Income
90,000
121,524
104,880
Net Income before Operating Transfers
164,510
192,919
285,881
Operating Transfers (Out)
Replacement Fund
(33,280)
(33,280)
(33,000)
Net Income
131,230
159,639
252,881
Other Changes in Retained Earnings - Unreserved
Depreciation that Reduces Contributed Capital
43,012
45,929
'
Intrafund Transfer from Restricted Accounts
88.708
43,012
134,637
Net Increase in Retained Earnings -
Unreserved
202,651
387,518
Retained Earnings - Unreserved
May 1
2,510,374
2,122,856
April 30
2,713,025
22 51
1
ISee accompanying Notes to the Financial Statement.
79
VILLAGE OF DEERFIELD, ILLINOIS
WATER FUND
SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1991
Budget Actual
Administration
Salaries
$ 76,560
83,958
Overtime
2,800
3,337
Employee Benefits
10,050
10,656
Professional Services
5,200
10,000
Travel, Training and Dues
1,100
883
Printing and Advertising
800
83
Communications
10,050
10,919
Contractual Services
1,000
4,208
Insurance
45,500
43,429
Motor Vehicle Maintenance
1,400
3,753
Miscellaneous
1,000
1,066
Supplies
1,000
2,739
Motor Vehicle Supplies
700
520
Occupancy
15,000
15,000
Apparel
1,800
1,675
Repairs and Maintenance
800
1.136
Total Administration
174,760
193.362
Operations
Distribution
Salaries
86,550
60,831
Overtime
9,450
1,895
Employee Benefits
7,050
7,157
Professional Services
3,000
1,415
Printing and Advertising
1,000
Contractual Services
8,600
5,246
Utility Services
85,500
57,343
Motor Vehicle Maintenance
2,500
2,147
Repairs and Maintenance
3,000
1,061
Miscellaneous
1,300
Purchase of Water
1,300,000
1,194,733
Supplies
500
150
Motor Vehicle Supplies
1,000
998
Chlorine
1,000
1,000
Materials
1,200
1,106
Equipment
8.600
4.820
Total
1,520,250
1,339,902
Less Nonoperating Items
Fixed Assets Capitalized
8.600
1.991
Total Distribution
1.511.650
1.337.911
80
' VILLAGE OF DEERFIELD, ILLINOIS
WATER FUND
SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED APRIL 30, 1991
Budget
Actual
'
Operations (Cont.)
Maintenance - Main and Fire Hydrants
Salaries
$ 41,950
55,785
Overtime
15,750
19,440
Part -Time
24,500
19,927
Employee Benefits
9,550
6,901
Contractual Services
45,400
58,987
Motor Vehicle Maintenance
5,830
10,967
Repairs and Maintenance
10,500
3,629
Equipment Rental
Miscellaneous
1,000
2,900
74
Motor Vehicle Supplies
1,900
3,204
Small Tools and Equipment
300
914
Aggregates
12,000
14,898
Materials
34,500
54,262
Equipment
1.500
1.503
'
Total Maintenance - Main and Fire Hydrants
207.580
250.491
Maintenance - Meters
Salaries
42,940
51,826
Overtime
880
691
Part -Time
950
890
Employee Benefits
6,180
7,535
'
Professional Services
3,000
Travel, Training and Dues
600
Printing and Advertising
1,000
Contractual Services
2,200
468
Motor Vehicle Maintenance
3,150
3,301
Repairs and Maintenance
1,400
Miscellaneous
300
Supplies
600
Motor Vehicle Supplies
1,000
1,116
Materials
3,000
3,480
Small Tools and Equipment
300
Equipment
16.500
7.219
Total
84,000
76,526
Less Nonoperating Items
'
Fixed Assets Capitalized
16.500
6.685
Total Maintenance - Meters
67.500
69.841
jTotal
Expenses
1.961.490
1.851.605
81
VILLAGE OF DEERFIELD, ILLINOIS
WATER FUND
SCHEDULE OF FIXED ASSETS AND DEPRECIATION
FOR THE YEAR ENDED APRIL 30, 1991
Assets
Balances Balances
May 1 Additions Retirements April 30
Water System $3,015,265 3,015,265
Equipment and Auto-
motive 373,399 8,676 382,075
33388,664 8,676 - 3,397,340
Net Asset Value
c
82
2,33®
Accumulated Depreciation
Balances
Balances
May 1
Additions Retirements
April 30
Water System
701,037
76,673
777,710
Equipment and Auto-
motive
263,041
20,200
283,241
964,078
96,873 -
1,060,951
Net Asset Value
c
82
2,33®
1
VILLAGE OF DEERFIELD, ILLINOIS
SEWERAGE FUND
1 BALANCE SHEET
APRIL 30, 1991
1
1 See accompanying Notes to the Financial Statements.
83
1991
1990
ASSETS
Current Assets
Cash and Investments
$ 1,366,455
1,282,583
Receivables
Accrued Interest
Accounts - Billed
11,045
89,161
12,695
78,528
- Unbilled
177,999
181,161
Other
8,996
7,541
Due From Other Funds
5,441
Inventories
6,740
6,737
Investment in Joint Venture - HELP
40.777
29.391
1
1.701.173
1.604.077
Fixed Assets
Cost
Accumulated Depreciation
8,654,839
_(2.376.126):
8,593,124
(2.140.778)
6.278.713
6.452.346
1
Total Assets
7.979.886
8.056,423
LIABILITIES AND FUND EQUITY
Current Liabilities
Accounts Payable
80,945
66,516
Accrued Payroll
12,595
10,522
Compensated Absences Payable
69.677
50.989
Total Liabilities
163.217
128.027
Fund Equity
'
Contributed Capital
Retained Earnings - Unreserved
6,025,342
1.791.327
6,141,604
1.786.792
Total Fund Equity
7.816.669
7,928.396
Total Liabilities and Fund Equity
7,979,886
8.056.423
1
1 See accompanying Notes to the Financial Statements.
83
VILLAGE OF DEERFIELD, ILLINOIS
SEWERAGE FUND
STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN RETAINED EARNINGS - UNRESERVED - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1991
See accompanying Notes to the Financial Statements.
84
1991
1990
Budget
Actual
Actual
Operating Revenues
Charges for Services
Sewer Charges
$1,150,000
1,046,475
1,110,646
Surcharges - Construction
25,000
48,000
47,370
Surcharges - Sara Lee
12,766
34,698
Miscellaneous
Permits and Fees
10,000
5,990
7,830
Penalties
12,000
13,983
11,378
Other
3.000
49.553
27.475
Total Operating Revenues
1.200.000
1.176.767
1.239.397
Operating Expenses Excluding Depreciation
Administration
206,420
211,122
165,435
Operations
Treatment Plant
787,968
687,218
780,599
Cleaning and Maintenance
131,610
116,252
96,719
Construction
139.910
116.758
119.116
Total Operating Expenses
Excluding Depreciation
1,265,908
1.131.350
1.161.869
Operating Income (Loss)
before Depreciation
(65,908)
45,417
77,528
Depreciation
68.500
235.348
241.234
Operating Income (Loss)
(134,408)
(189,931)
318,762
Nonoperating Revenues
Interest Income
75.000
108.454
90.647
Net Income (Loss) before Operating
Transfers
(59,408)
(81,477)
(73,059)
Operating Transfers (Out)
Replacement Fund
(30.250)
(30.250)
(30.000)
Net Income (Loss)
(89,658)
(111,727)
(103,059)
Other Changes in Retained Earnings - Unreserved
Depreciation that Reduces Contributed Capital
116.262
118.808
Net Increase in Retained Earnings -
Unreserved
4,535
15,749
Retained Earnings - Unreserved
May 1
1.786,792
1.771.043
April 30
1,.791.327
1.786.792
See accompanying Notes to the Financial Statements.
84
1
1
VILLAGE OF DEERFIELD, ILLINOIS
SEWERAGE FUND
SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1991
Budget Actual
Administration
Salaries $ 76,560 84,285
Overtime
3,360
3,147
Employee Benefits
11,670
10,639
Professional Services
200
Travel, Training and Dues
550
390
Printing and Advertising
100
83
Communications
4,430
3,693
'
Insurance
Motor Vehicle Maintenance
86,000
1,050
76,682
556
Repairs and Maintenance
1,300
1,136
Miscellaneous
700
953
Supplies
1,000
2,022
Motor Vehicle Supplies
1,000
1,204
Occupancy
15,000
15,000
Apparel
1,500
1,306
Contractual Services
2.000
10.026
Total Administration
206.420
211.122
Operations
Treatment Plant
1
Salaries
306,050
315,125
Overtime
9,450
14,909
Part -Time
Employee Benefits
4,900
45,760
5,010
41,188
Professional Services
4,000
Travel, Training and Dues
1,550
2,502
Printing and Advertising
1,000
83
Communications
9,900
8,097
Contractual Services
34,500
578
Utility Services
194,500
185,346
Motor Vehicle Maintenance
3,500
3,652
Repairs and Maintenance
179,000
111,277
Equipment Rental
1,500
2,823
'
Supplies
12,900
14,816
Motor Vehicle Supplies
7,000
10,868
Chlorine
8,000
10,107
Aggregates
3,500
2,125
Materials
5,000
6,617
Street Signs
300
85
VILLAGE OF DEERFIELD, ILLINOIS
SEWERAGE FUND
SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED APRIL 30, 1991
Budget Actual
Operations (Cont.)
Treatment Plant (Cont.)
Small Tools and Equipment $ 1,000 917
Apparel 1,700 1,719
Equipment 5,300 3,280
Miscellaneous 3.000 4.801
Total 843,310 745,840
Less Nonoperating Items
Fixed Assets Capitalized 55.342 58.622
Total Treatment Plant 787.968 687.218
Cleaning and Maintenance
Salaries
61,000:
64,490
Overtime
4,850
6,701
Part -Time
2,520
2,465
Employee Benefits
8,580
8,972
Contractual Services
10,000
2,712
Motor Vehicle Maintenance
4,660
3,902
Repairs and Maintenance
5,000
5,510
Equipment Rental
3,000
200
Miscellaneous
2,000
313
Supplies
20,100
11,420
Motor Vehicle Supplies
1,500
1,380
Aggregates
1,100
1,947
Materials
7,000
5,873
Equipment
3,600
3,200
Small Tools and Equipment
300
260
Total
135,210
119,345
Less Nonoperating Items
Fixed Assets Capitalized
3,600
3.093
Total Cleaning and Maintenance
131.610
116.252
86
1
1
1
1
1
1
1
1
1
n
1
1
1
1
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
SEWERAGE FUND
SCHEDULE OF OPERATING EXPENSES .- BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED APRIL 30, 1991
87
Budget
Actual
Operations (Cont.)
Construction
Salaries
$ 80,760
73,262
Overtime
2,310
792
Part -Time
1,470
1,442
Employee Benefits
11,770
9,772
Contractual Services
5,000
Motor Vehicle Maintenance
6,400
5,208
Repairs and Maintenance
7,500
1,847
Equipment Rental
1,000
Supplies
2,000
54
Motor Vehicle Supplies
2,000
2,957
Aggregates
5,500
6,522
Materials
14,000
14,632
Small Tools and Equipment
200
270
Total Construction
139.910
116.758
Total Expenses
1.265.908
1.1311350
87
VILLAGE OF DEERFIELD, ILLINOIS
SEWERAGE FUND'
SCHEDULE OF FIXED ASSETS AND DEPRECIATION
FOR THE YEAR ENDED APRIL 30, 1991
Assets
Balances Balances
May 1 Additions Retirements April 30
Sewer System $8,343,360 40,283 8,383,643
Equipment and Auto-
motive 249,764 21,432 271,196
8,593,124 61,715 - 8,654,839
Sewer System and Plant
Equipment and Auto-
motive
Net Asset Value
Accumulated Depreciation
Balances Balances
May 1 Additions Retirements April 30
1,925,559 216,833
2,142,392
215,219
18,515
233,734
_2,140,778
235,348
-
2,376,126
88
6,26 27.E
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
REFUSE-FUND
BALANCE SHEET
APRIL 30, 1991
1991 1990
ASSETS
Current Assets
Receivables
Property Taxes $645,640 550,354
Accounts - Billed 50,505 26,395
- Unbilled 117,725 96,187
Other 2,526
Due from Other Funds 17.618 1.617
Total Assets 831,488 677,079
LIABILITIES AND FUND EQUITY
Current Liabilities
Accounts Payable
Due to Other Funds
Total Liabilities
Fund Equity
Retained Earnings - Unreserved
Total Liabilities and Fund Equity
See accompanying Notes to the Financial Statements.
89
102,689 110,251
118.367 66.059
221,056 176,310
610.432
500.769
831,488
677.079
VILLAGE OF DEERFIELD, ILLINOIS
REFUSE FUND
STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN RETAINED EARNINGS - UNRESERVED - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1991
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
Net Income (Loss) before
Operating Transfers
Operating Transfers In
General Fund
Net Income (Loss)
Retained Earnings - Unreserved
May 1
April 30
1991 1990
Budget Actual Actual
$ 614,000 721,918 597,100
13,099 4,350
614,000 735,017 601,450
51,740 60,853 15,018
1,445,000
1,393,031
1,259,882
1,496,740
1.453,884
1,274,900
(882,740)
(718,867)
(673.450)
10,000 3,687 4,937
605:•000 724,843 621.687
615,000 728,530 626.624
(267,740) 9,663 (46,826)
100,000 -
(267_,740) 109,663 (46,826)
500,769
547.595
610.432
500,769
See accompanying Notes to the Financial Statements.
all
1
1
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VILLAGE OF DEERFIELD, ILLINOIS
COMMUTER PARKING LOT FUND
BALANCE SHEET
APRIL 30, 1991
1991 1990
ASSETS
Current Assets
Cash and Investments
Fixed Assets
Cost
Accumulated Depreciation
Total Assets
LIABILITIES AND FUND EQUITY
Current Liabilities
Accounts Payable
Accrued Payroll
Total Liabilities
Fund Equity
Contributed Capital -
Retained Earnings - Unreserved
Total Fund Equity
Total Liabilities and Fund Equity
See accompanying Notes to the Financial Statements.
91
$ 383,558 313.268
691,458
691,458
(366,194)
(335,496)
325,264
355,962
708,822
669,230
9,225 916
288 404
9.513 1,320
298,159
325,186
401.150
342,724
699.309
667.910
708,822
669,230
VILLAGE OF DEERFIELD, ILLINOIS
COMMUTER PARKING LOT FUND
STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN RETAINED EARNINGS - UNRESERVED - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1991
See accompanying Notes to the Financial Statements.
92 -
1991
1990
Budget
Actual
Actual
Operating Revenues
Parking Lot Fees
$132,500
132,894
125,398
Operating Expenses Excluding
Depreciation
Operations
41,180
41,401
29,725
Operating Income before
Depreciation
91,320
91,493
95,673
Depreciation
-
30,698
30,698
Operating Income
91,320
60,795
.64,975
Nonoperating Revenues
Interest Income
20.604
Net Income before
Operating Transfers
91,320
81,399
64,975
Operating Transfers (Out)
Street and Bridge Fund
(50,000)
(50,000)
(40,000)
Net Income
41,320
31,399
24,975
Other Changes in Retained Earnings -
Unreserved
Depreciation that Reduces
Contributed Capital
\
27.027
27,027
Net Increase in Retained Earnings -
Unreserved
58,426
52,002
Retained Earnings - Unreserved
May 1
342,724
290,722
April 30
401,150
342,724
See accompanying Notes to the Financial Statements.
92 -
1
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VILLAGE OF DEERFIELD, ILLINOIS
COMMUTER PARKING. LOT FUND
SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1991
Parking Lots - Village Construction
Salaries
Budget
Actual
Operations
2,500
6,300
Parking Lots - Village and Federal Funds
850
590
Salaries
$ 4,410
4,157
Benefits
820
590
Insurance
290
377
Utility Service
4,500
5,042
Repairs and Maintenance
2,500
Supplies
600
131
Aggregates
500
Equipment
500
16.301
Property Rentals
7,500
7,440
Materials
800
1,063
Contractual
2.500
6.300
Total Parking Lots - Village and
Federal Funds
24.920
25.100
Parking Lots - Village Construction
Salaries
4,520
4,157
Contractual
2,500
6,300
Benefits
850
590
Insurance
340
472
Utility Services
4,500
3,098
Repairs and Maintenance
1,000
Supplies
700
553
Aggregates
250
Materials
1,500
1,131
Equipment
100
Total Parking Lots - Village Construction
16.260
16.301
Total Operating Expenses
41.180
41.401
93
VILLAGE OF DEERFIELD, ILLINOIS
COMMUTER PARKING LOT FUND
SCHEDULE OF FIXED ASSETS AND DEPRECIATION
FOR THE YEAR ENDED APRIL 30, 1991
Assets
Balances Balances
_ May 1 Additions Retirements April 30
Land $ 77,500 77,500
Parking Lot 613,958 613,958
69.1,458 - 691,458
Accumulated Depreciation
Balances Balances
May 1 Additions Retirements April 30
Parking Lot 335.496 30.698 - 366.194
Net Asset Value 325.264
94
1
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1
1
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INTERNAL SERVICE 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.
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
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VILLAGE OF DEERFIELD, ILLINOIS
GARAGE FUND
BALANCE SHEET
APRIL 30, 1991
1991 1990
ASSETS
Receivables - Accounts $ 120 255
Inventories 57.305 43.810
Total Assets 57,425 44,065
LIABILITIES AND FUND EQUITY
Liabilities
Accounts Payable
Accrued Payroll
Compensated Absences Payable
Due to Other Funds
Total Liabilities
Fund Equity
Retained Earnings - Unreserved
Total Liabilities and Fund Equity
See accompanying Notes to the Financial Statements.
95
6,667 6,684
2,262 1,605
28,086 13,069
87.438 .89.227
124,453` 110,585
(67.028)
(66,520)
57,425
44,065
VILLAGE OF DEERFIELD, ILLINOIS
GARAGE FUND
STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN RETAINED EARNINGS - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1991
See accompanying Notes to the Financial Statements.
96
1991
1990
Budget Actual
Actual
Operating Revenues
Charges for Services
Billings
$194,000 187,900
176,262
Operating Expenses
Operations
185.510 188.408
197.726
Net Income (Loss)
8,490 (508)
(21,464)
Retained Earnings
May 1
(66.520)
(45.056)
April 30
(67.028)
(66,520)
See accompanying Notes to the Financial Statements.
96
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VILLAGE OF DEERFIELD, ILLINOIS
GARAGE FUND
SCHEDULE OF.OPERATING EXPENSES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1991
Budizet Actual
Operations
Public Works Department
Salaries
$ 80,920
97,703
Overtime
8,400
6,578
Employee Benefits
12,240
11,299
Apparel
500
454
Travel, Training and Dues
700
971
Printing and Advertising
400
Insurance
7,200
10,107
Miscellaneous
200
30
Professional Services
50
Contractual Services
100
52
Utility Services
2,500
1,740
Repairs and Maintenance
5,000
3,815
Supplies
59,300
50,418
Motor Vehicle Supplies
800
353
Equipment
2,500
1,719
Communications
2,600
966
Materials
600
705
Small Tools and Equipment
1,500
1,498
Total Operating Expenses
185,510
188,408
97
VILLAGE OF DEERFIELD, ILLINOIS
GARAGE FUND
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED APRIL 30, 1991
Cash Flows from Operating Activities
Operating (Loss) $ (508)
Adjustments to Reconcile Net Income to
Net Cash Provided by Operating Activities
Depreciation
Changes in Assets and Liabilities
Receivables 135
Inventories (13,495)
Accounts Payable (17)
Accrued Payroll 657
Compensated Absences Payable 15,017
Due to Other Funds (1.789)
Cash Flows from Noncapital Financing Activities -
Cash Flows from Capital and Related
Financing Activities -
Cash Flows from Investing Activities -
Net Increase in Cash and
Cash Equivalents -
Cash and Cash Equivalents
May 1 -
April 30 -
See accompanying Notes to the Financial Statements.
98
FIDUCIARY FUND TYPES
1
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TRUST AND AGENCY FUNDS
1
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TRUST AND AGENCY FUNDS
' Expendable Trust Find
Corporate Purpose Bond Series of 1987 Redemption Fund - to account for
investments held 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 government through an annual property tax
levy.
'Agency Fund
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 for certain employees. The deferred compensation is available to
employees upon termination or retirement.
I Deerfield Cemetery Association Fund - to account for the monies on deposit with
the Village which are being held for the Deerfield Cemetery Association.
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VILLAGE OF DEERFIELD, ILLINOIS
EXPENDABLE TRUST FUND
CORPORATE PURPOSE BOND SERIES OF 1987
STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
FOR THE YEAR ENDED APRIL 30, 1991
Revenues
Interest $843,000
Expenditures
Interest 843,000
Excess of Revenues over
Expenditures -
Fund Balance
May 1
April 30 -
0
See accompanying Notes to the Financial Statements.
100
1
1
1
1
1
1
1
1
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
TRUST AND AGENCY FUNDS
POLICE PENSION FUND
STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1991
' Fund Balances
May 1
Prior Period Adjustment
Adjusted Balances
April 30
1
1
1
1
1
1
See accompanying Notes to the Financial Statements.
101
6,425,063
160.469
6,585,532
7,494,864
5,692,555
5.692,555
6,425.063
1991
1990
Budget
Actual
Actual
Operating Revenues
Taxes
Property Taxes
$170,000
149,961
154,598
Replacement Taxes
7,000
5,323
5,863
Contributions
Employee Contributions
150,000
136,638
127,777
Interest
600,000
772,839
562.558
Total Revenues
927,000
1,064,761
850,796
Operating Expenses
Benefits and Refunds
Pension Payments
241,000
154,844
117,720
Separation Refunds
20,000
Miscellaneous
Filing Fee
1,000
585
568
Total Operating Expenses
262,000
155,429
118.288
Net Income
665,000
909,332
732,508
' Fund Balances
May 1
Prior Period Adjustment
Adjusted Balances
April 30
1
1
1
1
1
1
See accompanying Notes to the Financial Statements.
101
6,425,063
160.469
6,585,532
7,494,864
5,692,555
5.692,555
6,425.063
VILLAGE OF DEERFIELD, ILLINOIS
AGENCY FUNDS
COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
FOR THE YEAR ENDED APRIL 30, 1991
LIABILITIES
Accounts Payable
Balances
1,017
2,012
Balances
Deposits Payable
May 1
Additions
Deductions
April 30
Due to Other Funds
9,456
9,456
All Funds
1.035.976
289.221
135.085
1.190.112
ASSETS
1,396,260
302 544
297,858
1,400,946
Cash and Investments
$ 353,164
2,575
144,905,
210,834
Receivables
Other
192
192
Due from Other Funds
6,928
6,928
Assets Held by Agents for
Deferred Compensation
Plan (Market Value)
1.035.976
289.221
135.085
1.190.112
Total Assets
1,396.260
291,796
287,110
1,400.946
LIABILITIES
Accounts Payable
2,012
1,017
2,012
1,017
Deposits Payable
358,272
2,850
160,761
200,361
Due to Other Funds
9,456
9,456
Due to Participants
1.035.976
289.221
135.085
1.190.112
Total Liabilities
1,396,260
302 544
297,858
1,400,946
Deposit Fund
ASSETS
Cash and Investments 326,916 138,359 188,557
Due from Other Funds 6.928 6.928
Total Assets 333.84 - 145,287 188,557
LIABILITIES
Accounts Payable 1,927 747 1,927 747
Deposits Payable 331,917 153,563 178,354
Due to Other Funds 9.456 9.456
Total Liabilities 333.844 10.203 155.490 188.557
Deferred Compensation Plan Fund
ASSETS
Assets Held by Agents for
Deferred Plan (Market
Value) 1,035,976 289,221 135,085 1,190,112
LIABILITIES
Due to Participants 1,035,976 289 221 135,085 1,190,112
See accompanying Notes to the Financial Statements.
102
1
1
1
1
1
1
1
1
1
1
1
1
1
i
1
1
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
AGENCY FUNDS
COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES (CONT.)
FOR THE YEAR ENDED APRIL 30, 1991
LIABILITIES
Accounts Payable 85 270 85 270
Deposits Payable 26,355 2.850 7.198 22.007
Total Liabilities 26,440 3,120 7,283 22,277
See accompanying Notes to the Financial Statements.
103
Balances
Balances
May 1
Additions Deductions
April 30
Deerfield Cemetery
Association
ASSETS
Cash and Investments
$26,248
2,575 6,546
22,277
Receivables - Other
192
192
Total Assets
26,440
2,575 6,738
22,277
LIABILITIES
Accounts Payable 85 270 85 270
Deposits Payable 26,355 2.850 7.198 22.007
Total Liabilities 26,440 3,120 7,283 22,277
See accompanying Notes to the Financial Statements.
103
ACCOUNT GROUPS
GENERAL FIXED ASSETS ACCOUNT GROUP
1
1
1
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GENERAL FIXED ASSETS
ACCOUNT GROUP
' Fixed assets used in operations are not accounted for in governmental fiords.
General fixed assets include all fixed assets not accounted for in Proprietary
' Funds or in Trust Funds.
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VILLAGE OF DEERFIELD, ILLINOIS
GENERAL FIXED ASSETS ACCOUNT GROUP
SCHEDULE OF GENERAL FIXED ASSETS - BY SOURCE
APRIL 30; 1991
GENERAL FIXED ASSETS
Land
Buildings and Improvements
Vehicles
Equipment
INVESTMENT IN GENERAL FIXED ASSETS
General Revenues
Tax Incremental Financing
General Obligation Bonds.
Installment Contracts
104
$ 3,150,446
4,804,858
681,800
1,688,206
_10,325,310,
4,324,301
4,101,009
1,500,000
400.000
_10,325,310
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VILLAGE OF DEERFIELD, ILLINOIS
GENERAL FIXED ASSETS ACCOUNT GROUP
SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS - BY FUNCTION
FOR THE YEAR ENDED APRIL 30, 1991
1
1
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106
Balances
Balances
1
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May 1
Additions
Retirements
April 30
General Government
$2,343,865
321,401
19,930
2,645,336
'
Public Safet y
2,908,561
73,091
5,540
2,976,112
'
Public Works
4,601,082
104,760
1,980
4,703,862
9,853,508
499,252
27,450
10,325,310
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106
GENERAL LONG TERM DEBT ACCOUNT GROUP
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ITo account for the noncurrent portion of the government's Bond Issue liabilities.
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VILLAGE OF DEERFIELD, ILLINOIS
ILLINOIS MUNICIPAL RETIREMENT FUND
REQUIRED SUPPLEMENTARY INFORMATION
ANALYSIS OF FUNDING PROGRESS
APRIL 30, 1991
r
r(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 this percentage, the stronger the PERS.
108
1
(1)
(4)
(6)
Net Assets
Unfunded
Unfunded Pension
Available
(2)
(3)
Pension
(5)
Benefit Obligation
for Benefits
Pension
Percentage
Benefit
Annual
as a Percentage
Calendar
(Lower of Cost
Benefit
Funded
Obligation
Covered
of Covered Payroll
Year
or Market)
Obligation
(1) T (2)
(2) - (1)
Payroll
(4) : (5)
1987
$1,785,417
3,229,435
55.29%
1,444,018
2,292,114
63.00
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
r
r
'
r
--
r(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 this percentage, the stronger the PERS.
108
1
VILLAGE OF DEERFIELD, ILLINOIS
POLICE PENSION FUND
REQUIRED SUPPLEMENTARY INFORMATION
ANALYSIS OF FUNDING PROGRESS
APRIL 30, 1991
1988
$5,055,040
4,290,531
(4)
(764,509),
(6)
(62.00)
1989
5,692,830
Unfunded
118.00
Unfunded (Assets
(1)
(63.00)
1990
(Assets in
5,242,623
in Excess of)
Net Assets
1,460,008
(81.00)
Excess of)
7,494,864
Pension Benefit
Available
(2)
(3)
Pension
(5)
Obligation as
for Benefits
Pension
Percentage
Benefit
Annual
a Percentage of
Fiscal (Lower of Cost
Benefit
Funded
Obligation
Covered
Covered Payroll
Year or Market)
Obligation
(1) s (2)
(2) - (1)
Payroll
(4) T (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
123.00
(1,182,440)
1,460,008
(81.00)
1991
7,494,864
6,309,081.
118.79
(1,185,783)
1,565,933
(75.72)
(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 this percentage, the stronger the PERS.
109
VILLAGE OF DEERFIELD, ILLINOIS
ILLINOIS MUNICIPAL RETIREMENT FUND
1
1
1
I
I
1
110
REQUIRED SUPPLEMENTARY INFORMATION
'
REVENUES BY
SOURCE
APRIL 30,
1991
Employer
Revenues by Source
Contributions as
Calendar
Employee
Employer
Investment
a Percentage of
Year
Contributions
Contributions
Income
Totals
Payroll
1981.
$ 70,160
93,047
N/A
163,207
8.35%
1982
73,144
102,696
N/A
175,840
8.32
1983
78,651
114,848
N/A
193,499
8.32
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
t1987
103,137
179,472
N/A
282,609
8.21
1988
113,907
204,352
N/A
318,259
8.08
1
1989
118,539
266,280
N/A
384,819
10.10
1990
126,040
329,945
N/A
455,985
11.78
1
1
1
I
I
1
110
VILLAGE OF DEERFIELD, ILLINOIS
POLICE PENSION FUND
REQUIRED SUPPLEMENTARY INFORMATION
REVENUES BY SOURCE AND EXPENSES BY TYPE
APRIL 30, 1991
111
Expenses by Tyne
Employer
Administrative
Revenues by
Source
Year
Contributions as
Fiscal
Employee
Employer
Investment
a Percentage of
Year
Contributions
Contributions
Income
Totals
Payroll
44,014
1983
29,403
200
23,003
52,606
1982
$ 74,509
109,258
111,758
295,525
14.35%
1983
76,123
127,124
212,511
415,758
14.40
1984
83,022
140,265
265,078
488,365
14.56
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
111
Expenses by Tyne
Fiscal
Administrative
Year
Benefits
Expenses
Refunds
Totals
1982
$ 29,413
320
14,281
44,014
1983
29,403
200
23,003
52,606
1984
37,455
75
37,530
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
111
1
1
1
1
1
1
1
1
1
1
1
1
1
i
1
VILLAGE OF DEERFIELD, ILLINOIS
POLICE PENSION FUND
SCHEDULE OF OFFICERS' DEPOSITS
APRIL 30, 1991
Balance Balance
May 1 Deposits Withdrawals April 30
Kenneth Anderson $
41,195
5,158
46,353
Leo Anderson
40,504
4,761
45,265
Mark Anfeson
20,273
3,600
23,873
Marcea Ross
30,383
3,600
33,983
Richard Brandt
59,381
6,375
65,756
William Butler
44,268
4,163
48,431
Louis Cacciatore
15,837
3,600
19,437
Robert Davenport, Jr.
54,798
54,798
John Elofson
37,665
4,028
41,693
William Ennis
31,312
3,462
34,774
Marie Rose Gawne
27,099
3,600
30,699
Robert Hamilton
47,946
47,946
Thomas Hill
46,715
46,715
George Hoffman
39,614
4,128
43,742
Kevin K. Keel
9,024
3,414
12,438
Dave Lemmer
16,899
3,600
20,499
Eric Lundahl
24,414
3,600
28,014
Jeffrey McDermott
50,825
4,628
55,453
Robert Ogden
22,968
3,600
26,568
Rand J. Roel
19,442
3,600
23,042
Michael E. Scarry
12,950
3,600
16,550
John Sebben
36,582
3,600
40,182
Thomas Skrabala
48,120
5,256
53,376
John Sliozis
35,586
4,672
40,258
Michael Soler
34,781
3,600
38,381
Melvin Soltwisch
13,749
3,600
17,349
Gary Stryker
46,515
4,672
51,187
Larry Tousignant
51,890
4,720
56,610
David Turnbaugh
46,876
4,434
51,310
Richard Weil
23,924
3,600
27,524
Ross Roel
5,152
2,992
8,144
Brian Budny
4,523
2,947
7,470
Tim Foley
2,622
2,813
5,435
Geoffrey Ruther
2,578
2,813
5,391
Karen Stachowicz
2,632
2,813
5,445
Richard Wilk
3,882
2,903
6,785
Walter Trillhaase
1,296
2,890
4,186
Paul Obrzut
2,011
2,764
4,775
Thomas Keane
671
2,848-
3,519
Michael Greisz
1,296
2,693
3,989
John Yagecic
2,164
2,164
1,058,198 141,311 153,448 1,046,061
112
VILLAGE OF DEERFIELD, ILLINOIS
SCHEDULE OF INSURANCE IN FORCE
APRIL 30, 1991
Insureds Description of Coverage Amount of Coverage
Village of Deerfield Workmen's Compensation Statutory/
$30,000,000
Village of Deerfield
Village of Deerfield
Village of Deerfield
Village of Deerfield
Public Officials
Village of Deerfield
Comprehensive Automobile Liability
Bodily Injury and Property
1,000,000
General Liability
1,000,000
Blanket Building and Contents
30,000,000
Boiler and Machinery
10,000
Blanket Bond Coverage
10,000/
1,000,000
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 Agency. Excess liability coverage
is provided under this agency.
113
i
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
LONG -TERM DEBT REQUIREMENTS
SEWERAGE IMPROVEMENT BOND SERIES OF 1973
APRIL 30, 1991
Date of Issue
Date of Maturity
Authorized Issue
Actual Issue
Denomination of Bonds
Interest Rates
Principal Maturity Date
Interest Dates
Payable at
June 1, 1973
December 1, 1992
$1,080,000
$1,080,000
$ 5,000
4.4 % -5.1%
December 1
June 1 and December 1
Belleville National Savings Bank
PRINCIPAL AND INTEREST REQUIREMENTS
Tax
Levy
Bond
Tax Lew
Interest
Due on
Year
Numbers
Principal
Interest
Totals
Dec 1 Amount
June 1
Amount
1989
182 -196
2,500
2,500
1991
2,500
1990
197 -206
$ 50,000
3,750
53,750
1991 2,500
1992
1,250
1991
207 -216
50.000
1.250
51.250
1992 1.250
100.000
7.500
107.500
3+50
31 750
114
VILLAGE OF DEERFIELD, ILLINOIS
LONG -TERM DEBT REQUIREMENTS
SEWERAGE TREATMENT FACILITIES.BOND SERIES OF 1973
APRIL 30, 1991
Date of Issue
Date of Maturity
Authorized Issue
Actual Issue
Denomination of Bonds
Interest Rates
Principal Maturity Date
Interest Dates
Payable at
June 1, 1973
December 1, 1992
$2,000,000
$2,000,000
$ 5,000
4.48 -6.08
December 1
June 1 and December 1
Belleville National Savings Bank
PRINCIPAL AND INTEREST REQUIREMENTS
Tax
Levy
Bond
Tax Lew
Interest
Due on
Year
Numbers
Principal
Interest
Totals
Dec. 1 Amount
June 1
Amount
1989
316 -340
7,500
7,500
1991
7,500
1990
341 -370
$150,000
11,250
161,250
1991 7,500
1992
3,750
1991
371 -400
150.000
3.750
153.750
1992 3.750
300.000
22,500
322.500
11,250
11,250
115
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
LONG -TERM DEBT REQUIREMENTS
CORPORATE PURPOSE BOND SERIES OF 1982
APRIL 30, 1991
Date of Issue
Date of Maturity
Authorized Issue
Actual Issue
Denomination of Bonds
Interest Rates
Principal Maturity Date
Interest Dates
Payable at
October 1, 1982
December 1, 1994
$500,000
$500,000
$ 5,000
9.60% - 10.25%
December 1
June 1 and December 1.
The Northern Trust Company
PRINCIPAL AND INTEREST REQUIREMENTS
Tax
Levy
Bond
Tax Levy
Interest
Due on
Year
Numbers
Principal
Interest
Totals
June 1
Amount
Dec. 1
Amount
1990
46 -55
$ 50,000
25,650
75,650
1991
12,825
1991
12,825
1991
56-70
75,000
21,150
96,150
1992
10,575
'1992
10,575
1992
71 -85
75,000
14,250
89,250
1993
7,125•
1993
7,125
1993
86 -100
75.000
7.200
82.200
1994
3.600
1994
3,600
275,000
68.250
343.250
346125
34 125
116
VILLAGE OF DEERFIELD, ILLINOIS
LONG -TERM DEBT REQUIREMENTS
CORPORATE PURPOSE BOND SERIES OF 1982 - A
APRIL 30, 1991
Date of Issue
Date of Maturity
Authorized Issue
Actual Issue
Denomination of Bonds
Interest Rates
Principal Maturity Date
Interest Dates
Payable at
December 1, 1982
December 1, 1993
$500,000
$500,000
$ 5,000
7.0% - 8.5%
December 1
June 1 and December 1
American Fletcher National
Bank, Indianapolis
PRINCIPAL AND INTEREST REQUIREMENTS
Tax
Levy
Bond
_
Tax Levy
Interest
Due on
Year
Numbers
Principal
Interest
Totals
June 1
Amount
Dec. 1
Amount
1990
71-80
$ 50,000
12,750
62,750
1991
6,375
1991
6,375
1991
81 -90
50,000
8,500
58,500
1992
4,250
1992
4,250
1992
91 -100
50.000
4.250
54.250
1993
2.125
1993
2.125
150,000
25.500
175.500
12,750
12,750
117
VILLAGE
OF DEERFIELD, ILLINOIS
LONG -TERM DEBT REQUIREMENTS
CORPORATE PURPOSE BOND SERIES OF
1986
APRIL 30, 1991
Date of Issue
May 1, 1986
Date of Maturity
January 1, 2005
Authorized Issue
$11,000,000
'
Actual Issue
$11,000,000
Denomination of Bonds
$ 5,000
Interest Rates
6.4% - 7.75%
Principal Maturity Date
January 1
Interest Dates
January 1 and July 1
Payable at
American National Bank & Trust
Co.
Chicago, Illinois
PRINCIPAL AND INTEREST REQUIREMENTS
Tax
Levy
Tax Lew
Interest Due on
Year Principal
Interest
Totals July 1
Amount
Jan 1
Amount
'
1990 $
445,000
680,588
1,125,588 1991
340,294
1992
340,294
1991
485,000
646,100
1,131,100 1992
323,050
1993
323,050
1992
515,000
608,513
1,123,513 1993
304,256
1994
304,257
1993
545,000
568,600
1,113,600 1994
284,300
1995
284,300
1994
580,000
529,905
1,109,905 1995
264,952
1996
264,953
1995
620,000
492,785
1,112,785 1996
246,392
1997
246,393
1996
660,000
452,485
1,112,485 1997
226,242
1998
226,243
1997
700,000
408,925
1,108,925 1998
204,462
1999
204,463
1998
750,000
362,025
1,112,025 1999
181,012
2000
181,013
1999
800,000
311,025
1,111,025 2000
155,512
2001
155,513
2000
855,000
255,825
1,110,825 2001
127,912
2002
127,913
2001
915,000
198,113
1,113,113 2002
99,056
2003
99,057
2002
2003 1,045,000
975,000
136,350
70.538
1,111,350 2003
1.115 538 2004
68,175
35.269
2004
2005
68,175
35.269
9.890.000
5.721.777
15.611.777
2,860,884
22 86
i
1
i
118
1
VILLAGE OF DEERFIELD, ILLINOIS
LONG -TERM DEBT REQUIREMENTS
CORPORATE PURPOSE BOND SERIES OF 1987
APRIL 30, 1991
Date of Issue
Date of Maturity
Authorized Issue
Actual Issue
Denomination of Bonds
Interest Rates
Interest Dates
Payable at
October 8, 1987
October 8, 2002
$10,000,000
$10,000,000
$ 5,000
8.48 - 8.58
October 8 and April 8
Marine National Bank
CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Tax
Levy
Requirements
Interest
Due on
Year
Principal
Interest
Totals
April 8
Amount
Oct. 8
Amount
1989
421,500
421,500
1991
421,500
1990
843,000
843,000
1992
421,500
1992
421,500
1991
843,000
843,000
1993
421,500
1993
421,500
1992
843,000
843,000
1994
421,500
1994
421,500
1993
843,000
843,000
1995
421,500
1995
421,500
1994
843,000
843,000
1996
421,500
1996
421,500
1995
843,000
843,000
1997
421,500
1997
421,500
1996
843,000
843,000
1998
421,500
1998
421,500
1997
843,000
843,000
1999
421,500
1999
421,500
1998
843,000
843,000
2000
421,500
2000
421,500
1999
$ 7,000,000
843,000
7,843,000
2001
421,500
2001
421,500
2000
3.000.000
255.000
3.255.000
2002
127.500
2002
127.500
10.000.000
9.106.500
19,106,500
4 342,500
4,7600
119
1
1
1
1
I
1
1
1
1
1
1
1
1
rI
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
LONG -TERM DEBT REQUIREMENTS
GENERAL OBLIGATION BOND, SERIES OF 1988
APRIL 30, 1991
Date.of Issue
Date of Maturity
Authorized Issue
Denomination of Bonds
Interest Rates
Interest Dates
Principal Maturity Date
Payable at
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%
January 1 - July 1
January 1
American National Bank and Trust Company
of Chicago
CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Tax
Levy
Tax Lew
Interest
Due on
Year
Principal
Interest
Totals
July 1
Amount
Jan, 1
Amount
1990
$ 150,000
193,462
343,462
1991
96,731
1992
96,731
1991
150,000
181,462
331,.462
1992
90,731
1993
90,731
1992
150,000
169,462
319,462
1993
84,731
1994
84,731
1993
175,000
157,462
332,462
1994
78,731
1995
78,731
1994
175,000
146,088
321,088
1995
73,044
1996
73,044
1995
200,000
134,712
334,712
1996
67,356
1997
67,356
1996
200,000
121,512
321,512
1997
60,756
1998
60,756
1997
225,000
108,112
333,112
1998
54,056
1999
54,056
1998
225,000
92,925
317,925
1999
46,462
2000
46,463
1999
250,000
77,625
327,625
2000
38,812
2001
38,813
2000
275,000
60,375
335,375
2001
30,187
2002
30,188
2001
300,000
41,400
341,400
2002
20,700
2003
20,700
2002
300,000
20,700
320,700
2003
10,350
2004
10,350
2,775,000
1,505,297
4,280,297
752,647
752,650
120
I
f�
Statistical Section
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PROPERTY TAX ASSESSED VALUATIONS, RATES, EXTENSIONS, AND COLLECTIONS
' LAST TO FISCAL YEARS
APRIL 30, 1991
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VILLAGE OF DEERFIELD, ILLINOIS
ASSESSED AND ESTIMATED VALUE OF TAXABLE PROPERTY
LAST TEN FISCAL YEARS
APRIL 30, 1991
Data Source
Office of the County Clerk
124
Real
Property
Ratio of Total
Tax
Equalized
Estimated
Assessed Value
Levy
Assessed
Actual
to Total Estimated
Year
Value
Value
Actual Value
1981
$ 227,457,286
682,000,000
33.3
1982
236,944,178
711,000,000
33.3
1983
235,931,537
708;000,000
33.3
1984
245,838,523
738,000,000
33.3
1985
249,350,557
748,000,000
33.3
1986
279,386,218
839,000,000
33.3
1987
314,987,029
945,000,000
33.3
1988
377,208,775
1,131,000,000
33.3
1989
428,039,204
1,284,000,000
33.3
1990
489,019,552
1,467,000,000
33.3
Data Source
Office of the County Clerk
124
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' VILLAGE OF DEERFIELD, ILLINOIS
SCHEDULE OF DIRECT AND OVERLAPPING BONDED DEBT
APRIL 30, 1991
1
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Governmental Unit
Village of Deerfield
Metropolitan Sanitary District
Lake County
-Co6k County
North Shore Sanitary District
Deerfield Park District
Northbrook Park District
Highland Park Park District
Deerfield School District #109
Highland Park Elementary #108
Township High School #113
Township High School #225
Junior College #532
Lake County Special Service Area #5
Total Gross Debt
Less Debt Service and
Expendable Trust Funds
Village of Deerfield
Total Gross Debt Less
Available Amount
(2)
* Percentage of
(1) Debt Applicable ** Village's
Gross Debt to the Village Share of Debt
$ 23,490,000
100.000
23,490,000
939,390,000
.106
995,753
131,311,368
5.023
6,595,770
624,705,000
.104
649,693
2,000,000
.026
520
2,500,000
97.102
2,427,550
15,165,000
3.089
468,447
.1,500,000
1.664
24,960
1,217,000
71.562
870,910
300,000
6.344
19,032
4,205,000
27.615
1,161,211
4,525,000
2.724
123,261
3,430;000
6.121
209,950
735.000
27.273
200.457
1,754,473,368
37,237,514
11,294,746 11.294.746
1,743,178,622 25,942
* - 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
(1) Office of the County Clerk
(2) Office of the County Clerk
127
VILLAGE OF DEERFIELD, ILLINOIS
SCHEDULE OF LEGAL DEBT MARGIN
APRIL 30, 1991
The government is a home rule municipality.
Article VII, Section 6(k) of the 1970 Illinois Constitution 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 Village Were Not a Home Rule Municipality
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:
Equalized Assessed Valuation - 1990 489,019,552
Legal Debt Limit - 8.625 42,177,936
Amount of Debt Applicable to Limit
Sewerage
Improvement Bonds
$ 100,000
Sewerage
Treatment Facility Bonds
300,000
Corporate
Purpose Bond Series
1982
275,000
Corporate
Purpose Bond Series
1982 -A
150,000
Corporate
Purpose Bond Series
1986
9,890,000
Corporate
Purpose Bond Series
1987
10,000,000
General Obligation Bond Series
1988
2.775.000
Total
23,490,000
Available
Funds
(11.294,746) 12,195,254
Legal Debt
Margin
29,982,682
The Village has available funds in the Debt Service and Expendable Trust Funds
in the amount of $11,294,746.
128
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VILLAGE OF DEERFIELD, ILLINOIS
DEMOGRAPHIC STATISTICS
LAST TEN FISCAL.YEARS
APRIL 30, 1991
Data Sources
(1) 1982 -1991 were derived from data from the Department of Commerce and
Community Affairs
(2) The 1982 - 1991 based upon Deerfield Chamber of Commerce figures.
(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.
130
(3)
Percentage of
People Over
(2)
25 Years of
(4)
(5)
Per
(2)
Age With Four
School
Unemploy-
Fiscal
(1)
Household
Median
or More Years
Enroll-
ment
Year
Income
Age
of Collep-e
ment
Percentage
1982
17,476
$39,000
34.0
50.3
4,106
2.2%
1983
17,487
41,000
34.7
50.4
3,933
2.1
1984
17,500
45,000
35.4
50.7
3,788
1.9
1985
17,500
45,400
36.1
50.8
3,703
2.0
1986
17,500
46,100
36.5
51.0
3,715
1.7
1987
17,500
47,500
36.8
51.1
3,602
1.3
1988
17,500
48,100
37.2
51.3
3,276
1.1
1989
17,500
50,900
37.4
51.5
3,238
.9
1990
17,500
53,600
37.5
51.8
3,106
1.0
1991
17,327
55,000
37.7
48.8
3,277
1.0
Data Sources
(1) 1982 -1991 were derived from data from the Department of Commerce and
Community Affairs
(2) The 1982 - 1991 based upon Deerfield Chamber of Commerce figures.
(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.
130
1
IVILLAGE OF DEERFIELD, ILLINOIS
PROPERTY VALUE, CONSTRUCTION, AND BANK DEPOSITS
LAST TEN FISCAL YEARS
APRIL 30,. 1991
1
ti
1
1
1
1
' 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.
131
(1)
(1)
Commercial
Residential
(3)
Construction
Construction
(2)
Total
Fiscal
Number
Number ,
Property
Year
of Units Value
of Unit
Value
Deposits
Value
.1982
77
$ 9,758,795
86
1,689,832
53,522,000
682,000,000
1983
84
20,369,020
104
5,673,638
63,218,000
711,000,000
1984
52
12,146,201
46
5,131,160
63,877,000
708,000,000
1
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
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
1
ti
1
1
1
1
' 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.
131
VILLAGE OF DEERFIELD, ILLINOIS
PRINCIPAL TAXPAYERS
APRIL 30, 1991
Percentage
Data Source
Office of the County Clerk
132
1990
of Total
Assessed
Assessed
Taxpayers
Type of Business
Valuation
Valuation
VMC, Inc.
Deerbrook Shopping Center
$16,232,748
3.75%
Stein and Company
Lake Cook Office Center
14,846,097
3.43
Baxter International.
Office Buildings
13,573,422
3.14
Arbor Lake Center
Office Building
12,250,355
2.83
Deerfield - Saunders
Parkway North Office
Joint Venture
Building
7,540,254
1.74
Matas Corporation
Corporate 500 Center
7,322,429
1.69
Lake - Cook Plaza
Shopping Center
6,091,864
1.41
Hyatt - Deerfield.
Hotel
6,000,000
1.39
Tollway North
Tollway North Office Park
5,475,076
1.26
Sara Lee
Bakery Products
5.188.084
1.20
94,520.329
21.84
Data Source
Office of the County Clerk
132
i
i
i
VILLAGE OF DEERFIELD, ILLINOIS
MISCELLANEOUS STATISTICS
APRIL 30, 1991
Date of Incorporation
1903
Form of Government
Manager /Council
Geographic Location
North Suburban
Chicago
Population
1960
11,748
1970
18,876
1980
17,430
1990
17,327
Municipal Services & Facilities
Number of Full -Time Employees
Miles of Streets
Miles of Alleys
Miles of Sewers
Building Inspection
Number of Permits Issued in 1991
Fire Protection
Number of Firemen and Officers
Number of Stations
133
97
70
4
140
856
29
1
VILLAGE OF DEERFIELD, ILLINOIS
MISCELLANEOUS STATISTICS (CONT.)
APRIL 30, 1991
Police Protection
Number of Stations 1
Number of Policemen and Officers 38
Library Services
Number of Branch Libraries 1
Number of Books (Approx.) 130,000
Recreation Facilities
Number of Parks and Playgrounds 19
Park Area in Acres 262
Municipal Water Utility
Population Serviced 5,797
Average Daily Pumpage 2,377,000 gals.
Miles of Water Mains 70
Data Source
Village Records
134