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Village CAFR For Year Ended April 30, 1989J NOIS 4 1 1 1 n 1 1 i 1 1 1 1 1 1 1 1 COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR; THE FISCAL YEAR ENDED APRIL 30, 1989 PREPARED BY GEORGE J. VALENTINE FINANCE DIRECTOR VILLAGE OF DEERFIELD, ILLINOIS 1 1 1 U l f 1 1 1 1 1 1 1 1 TABLE OF CONTENTS INTRODUCTORY SECTION Principal Officials Organizational Ch r Chart Certificate of Achievement for Excellence in Financial Reporting Letter of Transmittal FINANCIAL SECTION INDEPENDENT AUDITOR'S REPORT GENERAL PURPOSE FINANCIAL STATEMENTS Combined Balance Sheet - All Fund Types and Account Groups Combined Statement of Revenues, Expenditures, and Changes in Fund Balances - All Governmental and Fiduciary (Expendable Trust) Fund Types Combined Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual - General, Special Revenue, and Debt Service Fund Types Combined Statement of Revenues, Expenses, and Changes in Retained Earnings /Fund Balances - All Proprietary and Fiduciary (Pension Trust) Fund Types Combined Statement of Changes in Financial Position All Proprietary and Fiduciary (Pension Trust) Fund Types Notes to the Financial Statements PAGE i iv -x 1-2 3 4 5 6 7 8-47 COMBINING, INDIVIDUAL FUND, AND ACCOUNT GROUP STATEMENTS AND SCHEDULES GOVERNMENTAL FUND TYPES GENERAL FUND General Fund Financial Statements. Balance Sheet 48 Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 49 TABLE OF CONTENTS (CONT.) FINANCIAL SECTION (CONT.) GOVERNMENTAL FUND TYPES (CONT.) GENERAL FUND (CONT.) Supplemental Schedules Schedule of Revenues - Budget and Actual Schedule of Expenditures - Budget and Actual SPECIAL REVENUE FUNDS All Funds Financial Statements Combining Balance Sheet Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Municipal Audit Fund Financial Statements Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Emergency Services /Disaster Fund Financial Statements Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Youth Bound Fund Financial Statements Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Library Fund Financial Statements Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Supplemental Schedules Schedule of Expenditures - Budget and Actual PAGE 50 51 -53 54 55 56 57 58 59 .i 1 1 1 1 r i i i i i i r i TABLE OF CONTENTS (CONT.) FINANCIAL SECTION (CONT.) GOVERNMENTAL FUND TYPES (CONT.) SPECIAL REVENUE FUNDS (CONT.) 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 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. PAGE ; 62 -66 .: 69 70 TABLE OF CONTENTS (CONT.) FINANCIAL SECTION (CONT.) GOVERNMENTAL FUND TYPES (CONT.) 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 Changes in Contributed Capital Combining Statement of Revenues, Expenses, and Changes in Retained Earnings - Unreserved Combining Statement of Changes in Financial Position Water Fund Financial Statements Balance Sheet Statement of Changes in Retained Earnings - Reserved - Restricted Accounts Statement of Revenues, Expenses, and Changes in Retained Earnings - Unreserved - Budget and Actual Supplemental Schedules Schedule of Operating Expenses - Budge't and Actual Schedule of Fixed Assets and Depreciation PAGE 71 72 73 74 75 76 77 78 79 80 81 82 83 -85 86 TABLE OF CONTENTS (CONT.) PAGE FINANCIAL SECTION (CONT.) PROPRIETARY FUND TYPES (CONT.) ENTERPRISE FUNDS (CONT.) Sewerage Fund Financial Statements Balance Sheet 87 Statement of Revenues, Expenses, and Changes in Retained Earnings - Unreserved - Budget and Actual 88 Supplemental Schedules Schedule of Operating Expenses - Budget and Actual 89 -91 Schedule of Fixed Assets and Depreciation 92 Refuse Fund Financial Statements Balance Sheet 93 Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual 94 Commuter Parking Lot Fund Financial Statements Balance Sheet 95 Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual 96 Supplemental Schedules Schedule of Operating Expenses - Budget and Actual 97 Schedule of Fixed Assets and Depreciation 98 INTERNAL SERVICE FUND Garage Fund Financial Statements Balance Sheet 99 Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual 100 Statement of Changes in Financial Position 101 Supplemental Schedules Schedule of Operating Expenses - Budget and Actual 102 TABLE OF CONTENTS (CONT.) SUPPLEMENTARY DATA Required Supplementary Information Analysis o'f Funding Progress - Illinois Municipal Retirement 113 - Police Pension 114 Revenues by Source - Illinois Municipal Retirement 115 Revenues by Source and Expenses by Type - Police Pension 116 i PAGE FINANCIAL SECTION (CONT.) PROPRIETARY FUND TYPES (CONT.) FIDUCIARY FUND TYPES TRUST AND AGENCY FUNDS All Funds Financial Statements Combining Balance Sheet 103 Statement of Revenues, Expenditures and Changes in Fund Balance (Expendable Trust) 104 Statement of Revenues, Expenses, and Changes j in Fund Balance - Budget and Actual (Pension Trust Fund) 105 Statement of Changes in Financial Position (Pension Trust Fund) 106 Combining Statement of Changes in Assets and Liabilities (Agency Funds) 107 -108 i ACCOUNT GROUPS GENERAL FIXED ASSETS ACCOUNT GROUP i Supplemental Schedules j Schedule, of General Fixed Assets - By Source i 109 Schedule of General Fixed Assets - By Function and Activity ! 110 Schedule of Changes in General Fixed Assets - By Function and Activity 111 GENERAL LONG-TERM DEBT ACCOUNT GROUP Supplemental Schedules Schedule of General Long -Term Debt 112 SUPPLEMENTARY DATA Required Supplementary Information Analysis o'f Funding Progress - Illinois Municipal Retirement 113 - Police Pension 114 Revenues by Source - Illinois Municipal Retirement 115 Revenues by Source and Expenses by Type - Police Pension 116 i ��. TABLE OF CONTENTS (CONY.) 1 1 1 PAGE FINANCIAL SECTION (CONT.) SUPPLEMENTARY DATA (CONT.) �i. Long -Term Debt Requirements Sewerage Improvement Bond Series of 1973 117 Sewerage Treatment Facilities Bond Series of 1973 118 Corporate Purpose Bond Series of 1982 119 Corporate Purpose Bond Series of 1982 -A Corporate Purpose Bond Series of 1986 120 121 _- Corporate Purpose Bond Series of 1987 122 General Obligation Bond Series of 1988 123 Schedule (Police of Officer's Deposits Pension Fund) 124 Schedule of Insurance in. Force 125 STATISTICAL SECTION General Governmental Expenditures b Function - P Y Last Ten Fiscal Years 126 General Governmental Revenues By Source - Last Ten Fiscal Years 127 Property Tax Assessed Valuations, Rates, Extensions and Collections - Last Ten Fiscal Years 128 Assessed and Estimated Actual Values of Taxable Property - Last Ten Fiscal Years 129 Property Tax Rates - All Overlapping Governments - 1 Last Ten Fiscal Years 130 Ratio of Net General Bonded Debt to Assessed Value and Net Bonded Debt Per Capita - Last Ten Fiscal Years 131 Schedule of Legal Debt Margin g g 132 Schedule of Direct and Overlapping Debt 133 Ratio of Annual Debt Service Expenditures for General Bonded Debt to Total General Governmental Expenditures - Last Ten Fiscal Years 134 1 1 1 i TABLE OF CONTENTS (CONT.) STATISTICAL SECTION (CONT.) Schedule of Revenue Bond Coverage - Water and Sewer Bonds - Last Ten Fiscal Years i Property Value, Construction, and Bank Deposits - Last Ten Fiscal Years i Demographic Statistics - Last Ten Fiscal Years i Principal Taxpayers Miscellaneous Statistics PAGE 135 136 137 138 139 1 Introductory Section 1 1 r, 1 1 1 1 1 1 1 1 1 1 r r r i i r VILLAGE OF DEERFIELD, ILLINOIS PRINCIPAL OFFICIALS APRIL 30, 1989 LEGISLATIVE VILLAGE BOARD OF TRUSTEES Bernard Forrest, President Harriet E. Rosenthal Edwin B. Seidman James L. Marovitz Vernon E. Swanson Cynthia J. Marty I J. Robert York Robert D. Franz, Clerk ADMINISTRATIVE Robert D. Franz, Village Manager FINANCE DEPARTMENT George J. Valentine, Director of Finance /Treasurer i TT� y V Z. 0 N z tM� O W 0 Q ._i 'WI co Z O LU LU ,7 z m o O -jO U O M `c W O LLJ ® t� �2 O �m Q� Y W U w J J w Ow <O e.a < �Z w ¢z N N N Q Q t) 0 Yz QE 0 L ;tw J� =J 0 in LU CL 4 (9 � O w U z Z E w U J O a. ii F. ui Z N 3 LLJ ' iW ¢ F- ; W W W W �... N 3 ~ I i i� C7 z Z C.7 i W Z Z-, W F � W J O (-? O CL N Li � Z W I I cc, w W Z N W O Q C:3 O O Z Ca i I N Z O_ J F- O ¢ _ C7 F- Q � I uj p W W Z J¢ U Z cc Z °f-) W> ° UJ Z W Z to 2 ° J z 3 W = Z { a d ¢1{ J d � I Z J J W --� z m z O N W ►r � J N Z O ¢ O U 0: O Z V W C O U Certificate of Achievement for Excellence in Financial Reporting Presented to Village of Deerfield, Illinois For its Comprehensive Annual Financial Report for the Fiscal Year Ended April 30, 1988 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. . iii President Executive Director 1 1 1 1 r 1 October 18, 1989 Dear Mr. Franz: fir o 9455000 E L D. ILLINOIS 850 WAUKEGAN ROAD • DEERFIELD, ILLINOIS 60015 The comprehensive annual financial report of the Village of the fiscal year ended April 30, 1989, is hereby submitted. for both the accuracy of the data, and the completeness and the presentation, including all disclosures, rests with the the best of our knowledge and belief, the enclosed data are all material respects and are reported in a manner designed fairly the financial position and results of operations of Deerfield for Responsibility fairness of Village. To accurate in to present the various funds and account groups of the Village. All disclosures necessary to enable the reader to gain an understanding of the Village's financial activities have been included. The comprehensive annual financial report is presented in three sections: introductory, financial, and statistical. The introductory section includes this transmittal letter, the Village's organizational chart and a list of principal officials. The financial section includes the general purpose financial statements, the combining, individual fund, and account group financial statements, and schedules, as well as the independent auditors' report on the financial statements and schedules. The statistical section includes selected financial and demographic information, generally presented on a multiyear basis. 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 1 1 r 1 1 1 1 1 ECONOMIC CONDITION AND OUTLOOK The Village has experienced significant growth on its southern boundary. A large portion of the growth has been in Cook County. The Cook County area now encompasses 12.1% of the Village's equalized assessment valuation, and, according to the 1980 census the Village has no residences in that area. The Village now has 671 hotel rooms compared to none in 1985. There are an additional 128 rooms which will open in 1989 and under construction is a 253 room Marriott Suites which will open in the summer of 1990. This is important to the Village in that the Village levies a 5% occupancy tax on rooms. This was $559,414 for the year ending 4/31/89. The unemployment rate in Deerfield is approximately 1 %. All of these factors indicate that Deerfield will continue to be a financially vibrant community. The Northern Cook County and Southern Lake County area is undergoing a rapid economic development. The major portion of this development is centered on the Lake Cook corridor. Currently under construction are entrance and exit ramps for the Illinois toll road at Lake Cook. This should provide improved access to Lake Cook Road and reduce dependency on the crowded Deerfield Road entrance. Unemployment in Lake County in August 1989 is 3.2% compared with 5.8% in the state of Illinois. MAJOR INITIATIVES For the Year. The Village has continued its storm and sanitary sewer renovation project by commencing Phase III of its renovation project. This phase was financed with a $3,000,000 bond issue sold in October 1988. This renovation project was started in 1982. The Village has provided a total capital funding of $14,000,000 for this project. Any additional phase will be small and will depend on specific demand. The Village's central business district Tax Increment Finance District (TIF) acquired a property at the intersection of Deerfield and Waukegan Road for $420,000 and demolished the existing buildings. The Village intended to make intersection improvements and construct a plaza on this site and began the downtown Streetscape program. The financing for the Streetscape will be provided by the TIF district, and interim financing will be lent via an interfund loan from the General Fund to the TIF district. 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 1 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 into 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. Department Focus. Deerfield Police installed a state -of- the -art computer system. This system allows the officer on patrol to inquire into Federal, State and Local databases through a Mobile Data Terminal (MDT) installed in the police car. Public requests for police service are computer dispatched over this same system. Officers electonically record their response and file their reports. The system also provides a computer mapping module and criminal investigations module which includes digitized "mug shots." The Department is currently in the process of implementing an enhanced 9 -1 -1 system. This system will allow public access to police, fire and emergency medical services by dialing 9 -1 -1 rather than the current 7 digit phone number. The caller's phone number and address will automatically appear on a computer screen in the dispatch center with each call. 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 appropriate budget. Project- length financial plans are adopted for the capital projects funds. The level of budgetary control (that is, the level vi 1 � i 1 ��. �. i i ■ ■ �� 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 r reappropriated as part of the following year's budget. As demonstrated by the statements and schedules included in the financial section of this report, the Village continues to meet its responsibility for sound financial management. General Government Functions. The following schedule presents a summary of general fund, special revenue funds, and debt service funds revenues for the fiscal year ended April 30, 1989, and the amount and percentage of Increases and decreases in relation to prior year revenues. Increase Percent Percent (Decrease) of Increase Revenues Amount of Total from 1989 (Decrease) The following schedule presents a summary of general fund, special revenue funds, and debt service funds expenditures for the fiscal year ended April 30, 1989, and the percentage of increases and decreases in relation to prior year amounts. Vii 1 Taxes 51956,653 72.9 464,736 8.46 Licenses and Permits 746,453 9.1 365,802 96.0 Intergovernmental 3319817 4.0 14,083 4.4 Charges for Services 218,162 2.7 11,107 5.4 Fines 206,900 2.5 (33,696) (14.0) Interest 462,576 5.7 (27,636) (5.6) Miscellaneous 250,191 3.1 (153,860) (38.1) Total 8,1729754 100.0 640,536 8.5 The increase in tax for 1989 vs 1988 is due primarily to the increase in hotel tax revenues of $347,265. This reflects the addition of a valuable revenue source to the Village. This should continue to expand as additional hotels currently under construction become completed. Licenses and Permits. Building permits account for $229,143 of the increase in License and Permits. This is due to the increased building activity in the Village. The Village does not believe that this increased level will continue beyond two to three years because available sites are dwindling. Vehicle licenses account for $124,429 in Licenses and Permits due to a a change in the Village licensing year. Miscellaneous. The reduction in Miscellaneous Revenue is due to the sale in 1988 of a piece of Village property for $140,000. The following schedule presents a summary of general fund, special revenue funds, and debt service funds expenditures for the fiscal year ended April 30, 1989, and the percentage of increases and decreases in relation to prior year amounts. Vii 1 Increase Percent Percent (Decrease) of Increase Expenditures Amount of Total from 1989 Decrease 1 1 Debt. The decrease in debt in the fund "Other" of $311,087, is attributable to a reduction in underwriting fees in a 1987 -88 bond issue. General Fund Balance. The fund balance of the general fund increased by 21.7 percent in 1989. The $723,348 increase provides the Village with a fund balance that is the equivalent of 260 working days of expenditures. The Village anticipates that in addition to the $820,000 already advanced to the Central Business District TIF fund that additional funds will be advanced, and a reserve of an additional $1,000,000 for that purpose. Both the funds previously advanced and the reserve must be considered in any analysis of the fund balance. Enterprise Operations. The Village's enterprise operations are comprised of four separate and distinct activities: the Water Fund and Sewerage Funds, the Refuse Fund, and the Commuter Parking Lot Fund. The $173,000 or 9.7% increase in water fund operating fund expenses was largely due to an increase in the amount of water purchased due to an extra dry summer. The other significant increase in the Enterprise Operations was in the refuse fund. The increase of 113,895 or 10.6% is due to the increase in costs in general, but particularly landfill cost increases. The sewerage fund was minimal. Pension Trust Fund Operations. The operations of the Village of Deerfield Police Pension Fund (PERS) remained relatively stable in 1988. For the year ending April 30, 1989, the pension benefit obligation is funded at 118 %, the same as the prior year. While this standardized actuarial method differs from the Illinois Department of Insurance funding requirement, it does demonstrate actuarial stability in the police pension fund. viii Current �. General Government 12384,532 18.3 138,188 11.1 Public Safety 21365,672 31.3 1082864 4.8 Highways and Streets 12022,507 13.5 85,819 9.2 Culture and Recreation 882,873 11.7 (8,939) (1.0) Miscellaneous 436,349 5.8 71,684 16.4 Debt Service Principal 600,000 7.9 75,000 14.3 Interest and Fiscal Charges 868,963 11.5 (31,965) (4.0) Other - -- - -- (311,087) - -- Total 79560,896 100.0 127,564 1.7 General Government. The primarily attributable to increase expenditure a Village Hall remodelling in General Government which totaled is $136,270. Police increases were due to general increases in salaries and expenditures. 1 1 Debt. The decrease in debt in the fund "Other" of $311,087, is attributable to a reduction in underwriting fees in a 1987 -88 bond issue. General Fund Balance. The fund balance of the general fund increased by 21.7 percent in 1989. The $723,348 increase provides the Village with a fund balance that is the equivalent of 260 working days of expenditures. The Village anticipates that in addition to the $820,000 already advanced to the Central Business District TIF fund that additional funds will be advanced, and a reserve of an additional $1,000,000 for that purpose. Both the funds previously advanced and the reserve must be considered in any analysis of the fund balance. Enterprise Operations. The Village's enterprise operations are comprised of four separate and distinct activities: the Water Fund and Sewerage Funds, the Refuse Fund, and the Commuter Parking Lot Fund. The $173,000 or 9.7% increase in water fund operating fund expenses was largely due to an increase in the amount of water purchased due to an extra dry summer. The other significant increase in the Enterprise Operations was in the refuse fund. The increase of 113,895 or 10.6% is due to the increase in costs in general, but particularly landfill cost increases. The sewerage fund was minimal. Pension Trust Fund Operations. The operations of the Village of Deerfield Police Pension Fund (PERS) remained relatively stable in 1988. For the year ending April 30, 1989, the pension benefit obligation is funded at 118 %, the same as the prior year. While this standardized actuarial method differs from the Illinois Department of Insurance funding requirement, it does demonstrate actuarial stability in the police pension fund. viii I I i I I I I� I i i I i I I i I i I 1 1 I ix Debt Administration. At April 30, 1989, the Village had a number of debt issues outstanding. These issues included $13,951,013 of net general obligation bonded debt and no revenue bonds. 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 - Estimated 377,208,775 Legal Debt Limit - 8.625 32,534,257 Debt Margin 18,583,244 Legal 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 an insurance company separate account. The average yield on investments, except for the pension trust fund, was 7.8 %. The pension trust fund achieved a yield rate of 10.43% on cash and investments exclusive of separate accounts which are similar to mutual funds accounts and therefore carried at the lower of cost or market until sold. The separate accounts as reported by the management earned 16.52% and 26.75% for calendar 1988. The higher rate of return on pension fund investments is attributable to the long -term nature of most holdings in its portfolio. The Village's investment performance ranks favorably when compared to average yield rates of 7.8% for 90 day U.S. Treasury bills and 9.06 for 10 year U.S. Treasury notes. The Village earned interest revenue of $1,830,905 on all investments for the year. 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 are profitable and have an asset ratio in excess of 5 %. The Village believes that these criteria allow the Village to obtain competitive quotes on certificates of deposit without the need for costly collateral. Village deposits which are uninsured and uncollateralized total $495,953 or 1.4% of cash and investment. The Village's investments total $33,276,812. Of these $24,590,073 are 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. An additional $7,088,349 is invested in the Illinois Public Treasury Pool, $878,390 is in a deferred compensation plan asset account, and the remaining $720,000 is in life insurance company contracts. 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. 1 I ix � I I '� I i i I i I I i i I i i 1 f� 1 1 i 1 r 1 1 1 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 Karrison, Byrne, Jansey and Trimarco, Ltd. CPA's 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 (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the Village for its comprehensive annual financial report for the fiscal year ended April 30, 1988. The was the sixth consecutive year that the Village has received this prestigious award. In order to be awarded a Certificate of Achievement, the Village published an easily readable and efficiently organized comprehensive annual financial report. This report satisfied both generally accepted accounting principles and applicable legal requirements. A Certificate of Achievement is valid for a period of one year only. we believe that our current comprehensive annual financial report continues to meet the Certificate of Achievement Program's requirements and we are submitting it to the GFOA to determine its eligibility for another certificate. 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. Respep,tfully submitted, Director X Financial AUDITOR'S OPINION 1 1 r. 1 1 1 I 1 1 1 1 1 1 1 t 1 1 Ikon, L l 0 9 750 EAST DIEHL ROAD o NAPERVILLE, ILLINOIS 60563 Jamey & c®, Ixd® ,., 505-1900 CERTIFIED PUBLIC ACCOUNTANTS INDEPENDENT AUDITOR'S REPORT The Honorable Bernard Forrest, Mayor Members of the Board of Trustees Village of Deerfield Deerfield, Illinois We have audited the accompanying general purpose financial statements of the Village of Deerfield, Illinois, 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, 1989, as listed in the 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 stand- ards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the general purpose financial statements referred to above present fairly, in all material respects, the financial position of the Village of Deerfield, Illinois, at April 30, 1989, and the results of its operations and the changes in financial position of its proprietary and similar trust 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, at April 30, 1989, and the results of operations of such funds and the changes in financial position of individual proprietary and similar trust funds for the year then ended, in conformity with generally accepted accounting principles. As discussed in Note 13B to the financial statements, the Village of Deerfield has changed its method of accounting for special assessment bonds. 1 r', Our audit was made for the purpose of forming an opinion on the general purpose financial statements taken as a whole and on the combining, individual fund, and account group financial statements. The accompanying financial information ' listed as supplemental and schedules in the table of contents is presented for purposes of additional analysis and is not a required part of the financial statements of the Village of Deerfield, Illinois. The information. has been subjected to the auditing procedures applied in the audit of the general purpose, combining, individual fund, and account group financial statements and, in our opinion, is fairly stated in all material respects in relation to the financial statements of each of the respective individual funds and account groups, 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. 4444orM Karrison, Byrne, Jansey & Trimarco, Ltd. August 1, 1989 1 1 1 1 1 1 1 I 1 1 1 GENERAL PURPOSE FINANCIAL STATEMENTS 1 VILLAGE OF DEERFIELD, ILLINOIS ALL FUND TYPES AND ACCOUNT GROUPS ' COMBINED BALANCE SHEET APRIL 30, 1989 1 I(See Following Page) 1 1 1 1 1 1 1 1 1 1 1 1 to O ~ N F I L C �Iv O� N �E� a+ N C7��I -+ U L v v Nc W o CL U W yyN N _1 co L A " U W H Co -Q V W ca p� 6 6 N (p q0p O`Nmn •1. -0 n f'�1 I� N �f ON O M .O n .1 � I o0 i O M �O 4 N CN CO r, ., C'j % � N p V1 N 1� M N �0 I� n tMn O V) � � Oj\ . pp� ✓'� pu N f✓�N 1 •M'D 0, J O cn DO X 1010 81 30 88 � n O N 00 C i M (& "'� ~ ti n � a M p C 00 o m Ln lI o ). 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H H H 7 0) 0 w C O .1 m C m a, O H Of > •.� y O) +� H O) O) G H T a U) b 0) O w V7 m ul >i u •p u C C •.•.) () •0 u z a c v w Q) ., o :� yy c a CY 0. c 7 c c )0 C w ¢ 0) 0 H y C b E 0 7 () w > 0) C ty O O w t0 C O) 0) C ca X w y u •.+ •, •O N 0 C H H 4) C •.+ ..+ w W •O .-i C H O> N H O) U C C u- O) N y N ..+ N u u •.+ G •.+ F F u 0) •.� H w .� C O y w •O C C y •-+ >. O) .-, > 0.y .a w N U C 00 OD w H 7 O) •� m> C CO H u O7 H H H ••+ 0) m O) 0. 0 C C 0) 0) +� C N b C O) O u! M— .� 7 u H ..•� 3 z 0) N u H ++ ° w •y,l Q U 'O `.-•° °i L r'01 E N N 0o 0) .-� m L G 0) .� F a.) u (n C Q) O .� J.1 Q N C H OD 0 a) L ..+ 0) C 00.-) w 7 •ti u F W N N O C t0 -+ H m .r u 7 OJ 0 W H W u O C% C N F b H 0) .w ., L C H u LL y V A 1+ C W H N H ul O7 H H O) N O1 m •9 D• V1 0) CO A•2 •� u u" LL0 u C C V W F' > F a H ,� a.V Q 0 H N A O O n7w0 C 0.b C, 0. �0 C w u w w O u ¢ k7. ¢ u O: i + 6 V]LIAGE OF DEERFIELD, ILLINOIS ALL PROPRIETARY AMID FIDUCIARY (PENSION TRUST) FUND 'TYPES i COM M STATE M OF REVENUES, EMSES, AND QjA MS IN RMINM EARNINGS - UNRESERVED /RM BMANCE FOR CIE YEAR ENDED APRIL 30, 1989 ' i 1 Proprietary Fiduciary Fund Types Fund Types Totals Internal Pension I (Memorandum Only) Enterprise Service Trust 1989 1988 , Operating Revenues Taxes $ 155,430 $ 155,430 $ 150,024 (harges fDr Services $4,020,119 $154,680 ' 4,174,799 3,674,379 ' Contributions 83,619 83,619 107,902 Miscellaneous; 136,388 488,746 625,134 550,017 Total Operating Revenues 4,156,507 154,680 727,795 5,038,982 4,482,322 ' Operating Expenses Administration 361,473 361,473 316,636 Operations I 3,693,865 165,934 1 3,859,799 3,599,646 ' Depreciation 378,631 j 378,631 386,448 i Benefits and Refunds 88,660 88,660 87,859 Mi sc el laneous 1,620 1,620 53 t Total Operating Expenses 4,433,969 165,934 90,280 4,690,183 4,390,642 Operating Incas (Loss) (277,462) (11,254) 637,515 I 348,799 91,680 Nonoperating Revenues (Expenses) Interest Thane 189,685 189,685 135,047 Property Taxes, 5413018 541,018 485,998 ' Interest Expense (1,913) (1,913) (3,825) 728,790 - - 728,790 617,220 Net Incane (Loss) befrDre Operating Transfers 451,328 (11,254) 637,515 1,077,589 708,900 � Operating Transfers (Out) (91,000) (500) - I ; (91,500) (20,000) ' Net Inane (Loss) 360,328 (11,754) 637,515 � i 986,089 688,900 I Other Qtanges iri Retained Earnings - ihreserved /Florid Balance Depreciation that Reduces Contributed Capital 194,373 - - 194,373 301,500 ' Net Increase (Decrease) in Retained Earnings /FundBalance 554,701 (11,754) 637,515 ! 1,180,462 i 990,400 ' ptained Earnings - Unreserved/ Fund Balance ' May 1 4,027,515 (33,302) 5,055,040 9,049,253 , 8,058,853 April 30 $4,582,216 $(45,056) $5,692,555 $10,229,715 $9,049,253 See accompanying Notes to the Financial Statements. 1 W P4 z >+ 0 E4 H H A H Z m w 0a •• a H A U 2 1:4 z H a Z H a0 w H H z .z H A W a a W w� w H 0 �0>�, z W O A O W H w z �z � � H rn H w A H W x z a �+ 0 z a O U. a a co rn r-r O M a H r4 a A w A z w w O W 7 y L G v u ro L W ro .4 u C ro G w v 41 O AJ v L O z 00 G .4 G ro a 8 O u u ro v Q) W to r- 00 rn r- O r- ON r� Oo •--4 rn 0 .-i 00 N 0 (ON �t Lf) r- ON•4Nt'M Ors .t 00 M 00 M 'D to O*, ON -4 ON r- 001 •4 v v 00 O rn r-4 .-r 4 M N 00 rn �t 00 %D >� .-a 00 0 N -4 00 N N r� --r r 4 (U r- M -- O N .-r M 00 O 00 to • G u .� a c 0 W .-d to ri) -Lj 0 CO v +J L O to v -4 a. to (/} G G -k rNl 6ri) a •-r co r 0 to v v 41 to u cd C yr co G �4 W C ji b 4.J 6 iJ G >a G u ° O G to G G •4 u aJ N H A � O b O -Li �4 H o 't M n0't -4 O Ln .tO "O O v z O 00 �D 't cn Or n � ^ rn N .D O N rr1 n N v 0 ON to u r-4 - r+ O a CO to U rX+ U G a 9 s4 G u u v oO r` 00 D - O0 p -+ N Ln a r` p �:) v O Z CN I ON n r- -4 M N to m � M 4 M 00 00 n M � ON M M rororov +� b N •-+ 00 O 3 v b W w r4 00 v W u w •-+ C Co k vz<4 to Ln Ln Ln O u W u 4 H T a\ T v C •—t :3 Pw 4 r` m M M Lr) M 00 A U F4 a. O A OCi Ln to Z Ln N r- M M ID v ca �•r1 to v u z u •..+ E r y C r` r: r: ID •-+ ON 0 u G 14 M M M M M r� ba a H %D %D �D .D co -4 0 00 00 ro a) O "D 1.0 rn to m ID rn G u M M r� n M N �O H •1'4 I ^ ^ .. JJ it •--i .-r t+ N H co � U} ro a 4 v Ea 44 •d v 00 r + M M N r-r 0 r-, O 00 u1 ON a. G to N M rn O %D � Ln \.D O N M 1.0 O\ O G •'d M 10 ON ID rn N �D O O rn -4 Pa R. (] 00 00 00 r .� .o cl >+ n M M n N v M M n n rr N rn 41 G N N 7 y L G v u ro L W ro .4 u C ro G w v 41 O AJ v L O z 00 G .4 G ro a 8 O u u ro v Q) W to _ v •4 •4 v v rn r+ m u .q (U rn co 4 a to • u .� a c W ri) -Lj 0 CO v +J L O to v -4 a. to G G -k 6ri) a •-r co r 0 to v v 41 to u aJ yr co G �4 W C 4.J 6 iJ G >a G u ° to G G •4 u aJ N A b -Li w H o v i a a v z co D � G G G b L C •.4 C •b v O to u r-4 - r+ O a CO to U rX+ U G a 9 s4 G u u v u v, >4 to O G a O G CO W v v �:) v O v v V Po to H o 14 r-+ w a to m � a. a to to to v M � rororo tn0 rororov +� b w 3 v b W w r4 3 -C v W u w •-+ C Co k vz<4 u u a• Cz u W u 4 H T .z b. vGro H :3 Pw 0 Z vv H -14 =ro a m A U y A OCi r r to Z 6 ro ro v to v u z u 7 y L G v u ro L W ro .4 u C ro G w v 41 O AJ v L O z 00 G .4 G ro a 8 O u u ro v Q) W 1 E1.1 VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30. 1989 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 fori establishing govern- mental accounting and financial reporting principles. The more significant of the gove,rnment'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 benefits the government and /or its citizens, or 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. Included within the Reporting Entity i i Police Pension Employees Retirement System i The government's policemen participate in the Police Pension Employees Retirement System ( PPERS). PPERS functions for ,the benefit of these employees and is governed by a nine - member pension board. The PPERS fits the criteria for inclusion in the Village's report. Excluded from the Reporting Entity: Wesi Deerfield Township Highland Park Mosquito Abatement District Deerfield Park District Deerfield Bannockburn Fire Protection District 1 1 1 1 f] Z VILLAGE OF- DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1989 1. Summary of Significant Accounting Policies (Cont.) A. Reporting Entity (Cont.) Excluded from the Reporting Entity (Cont.): 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 report- ing 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 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. MICA is reported as a 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 ' joint venture. The Village of Deerfield, Illinois was, incorporated April 14, 1903. The Village operates under a Board /Manager form of government and provides the following services as authorized by its charter: public safety (police), highways and streets, sanitation, health and social services, culture— recreation, public improvements, planning and zoning, and general admini- strative services. B . 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. 1 1. 10 VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1989 Summary of Significant Accounting Policies (Cont.) B. Fund Accounting (Cont.) 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 three categories: governmental, proprietary, and fiduciary. Each category, in turn, is divided into separate "fund types ". i Governmental funds are used to account for all or most of a government's general activities, including the collection and disbursement of earmarked monies (special revenue funds), the acquisition or construction of general fixed assets (capital projects funds), and the servicing of general longterm 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. i 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) . Fiduciary funds are used to account for assets held on behalf of outside parties, including other governments, or on behalf of other funds within the government. When these assets are held under the terms of a formal trust agreement, either a pension trust fund, a nonexpendable trust fund, or an expendable trust fund is used. The terms "nonexpendable" and "expendable" refer to whether or not the government is under an obligation to maintain the trust principal. Agency funds generally are used to account for assets that the government holds on behalf of others as their agent. C. Basis of Accounting i 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. I i VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1989 Summary of Significant Accounting Policies (Cont.) C. Basis of Accounting (Cont.) All proprietary funds, nonexpendable trust 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) is segregated into contributed capital and retained earnings components. Proprietary fund —type operating. statements 1 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. Those revenues susceptible to accrual are property taxes, franchise taxes, licenses, interest revenue, and charges for services. Sales taxes and income 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, pension trust funds, and nonexpendable 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 ' 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. 1 1. i i 12 i VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1989. I i Summary of Significant Accounting Policies (Cont.) i i 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 Trust funds. All annual appropriations lapse at fiscal year end. Encuinbrances represent commitments related to' unperformed contracts for 11 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 thel commitments will be honored during the subsequent year. E. Investments I Investments are stated at cost or amortized cost; except for investments in the jdeferred compensation agency 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. i H. Rest'ricted Assets Certain proceeds of enterprise fund revenue bonds,1 as well as certain resources set aside for their repayment, are classified as restricted assets on the balance sheet because their use is limited by applicable bond covenants. See the note on long —term debt for additional disclosures. 13 VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS ' APRIL 30, 1989 1. Summary of Significant Accounting Policies (Cont.) ' I. 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. 1 1 1 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 fixed assets in the proprietary fund types is computed ' using the straight -line method. J. Compensated Absences Vested or accumulated vacation leave that is expected to be liquidated with expendable available financial resources and is reported as an expenditure and a fund liability of the governmental fund that will pay it. No expenditure is reported for these amounts. Vested or accumulated vacation leave of proprietary funds is recorded as an expense and liability of those ' funds as the benefits accrue to employees. 1 1 1 1. 14 VILLAGE OF DEERF IELD , ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1989 Summary of Significant Accounting Policies (Cont.) K. 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. L. Fund'Equity i Contributed capital is recorded in proprietary fund's that have received capital grants or contributions from developers, customers, or other funds. Reserves represent those portions of fund equity knot appropriable for expenditure or legally segregated for a specific future use. Retained Earnings - Reserved - Restricted Accounts represents amounts required to be segregated by bond ordinance provisions. Designated fund balances represent tentative plans for future use of financial resources. M. 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. I All other interfund transactions, except quasi - external transactions and reimbursements, are reported as transfers. Nonrecurring or nonroutine Perm anent transfers of equity are reported as residual equity transfers. All other interfund transfers are reported as operating transfers. N. 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. Neither are such data' comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data. i t 15 VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS tAPRIL 30, 1989 1 1. Summary of Significant Accounting Policies (Cont.) 0. 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. 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 t governing body holds public hearings and may add to, subtract from, or change appropriations, but may not change the form of the budget. 1 1 1 1 1 1 1 1 The budget may be amended 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 $ 75,449 Tax Increment Finance District 2 409,941 Brickyards Development 963,998 Garage 45,056 These deficits will be eliminated by future tax levies and transfers. 16 i i VILLAGE OF DEERF IELD , ILLINOIS i NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1989 i I 2. Legal Compliance and Accountability (Cont.) 3. 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. Fund Excess Illinois Municipal Retirement $ 23,!510 Motor Fuel Tax 17,1578 Debt fService 28,335 Water 136,660 Refuse 53,160 Commuter Parking Lot 8,;733 Garage 1,528 Deposits and Investments 4 I i The government maintains a cash and investment pool that 11is available for use by all funds, except the pension trust fund. Each fund type's portion of this pool is displayed on the combined balance sheet as "cash and investments ". In addition; investments are separately held by several of the government's funds. The deposits and investments of the pension trust funds are held separately from tho6e of other funds. Cash on hand of $2,540 has. been excluded from the amounts shown below. Permitted Deposits and Investments - Statutes authorize the government to make i deposits /invest in commercial banks, savings and loan instl'tutions, obligations of the U. S. Treasury and U. S. Agencies, obligations of States and their political subdivisions, credit union shares, repurchase agreements, commercial paper rated within the three highest classifications by at least two standard i 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 contracts. 9 17 VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS tAPRIL 30, 1989 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. i 1 1 1 3. Deposits and Investments (Cont.) A. Deposits At year -end the carrying amount of the government's deposits totaled $695,420, and the bank balances totaled $947,566. Bank Balances tCategory 1 Deposits covered by federal depository insurance, or by collateral held by ' the government, or its agent, in the government's name. $451)613 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- lateralized. 495,953 Total Deposits $947,566 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. i 1 1 1 VMAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEN) MS APRIL 30, 1989 3. Deposits and Investments (Cont.) B. Investments 18 The government's investments are categorized to give an indication of the level of risk assuned by the entity at year -end. Category 1 includes investments that arei insured or registered or for which the securities are held by the government or its agent in the government's nane. Category, 2 includes uninsured and unregistered investnents for rhich the securities are held by the brcker's or dealer's trust department or agent in the gwernm0ent's name. Category 3 includes uninsured and unregistered investments for which the securities are held by the brdcer or dealer., or by its trust department or agent but not in the government's none and uninsured, unrEgistered and uncollateralized investments. Deferred compensation Plan Assets ;878,390 878,390 Investment in Illinois Public Treasurer's Investment Pbol 7;088,349 7,088,349 Total Investments $33;276,812 $35,056,398 I The pension trust funds own approximately 17 percent of the investments in Category 1 and 100 percent of the investments in Category 3. I Carrying Amount Category Iarle t 1 2 3 Totals Value U.S. GovernnEnt Securities $13,708,000 $13;708,000 $15,377,855 Life Insurance Company Contract $470,000 '470,000 579,731 Gft 882,073 ;882,073 882,073 Dade county Florida Aviat ion Revenue Bonds 10,000,000 101000,000 10,000,000 Guaranteed Ines tnent Contract 250,000 j250,000 250,000 $24,590,073 — $720,000 25,1310,073 27,089,659 Deferred compensation Plan Assets ;878,390 878,390 Investment in Illinois Public Treasurer's Investment Pbol 7;088,349 7,088,349 Total Investments $33;276,812 $35,056,398 I The pension trust funds own approximately 17 percent of the investments in Category 1 and 100 percent of the investments in Category 3. I ' 19 ' VILLAGE OF DEERF IELD , ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1989 5. Fixed Assets A. General Fixed Assets Account Group 4. Receivables - Taxes Property taxes for 1988 attach as an enforceable lien on January 1, 1988, on fixed assets property values assessed as of the same date. Taxes are levied in September of the subsequent fiscal year (by passage of a Tax Levy Ordinance). Tax bills are tBalances prepared by the County and issued on or about April 30, 1989, and are payable. Balances in two installments, on or about June 1, 1989, and September 1, 1989.. The April 30 County collects such taxes and remits them periodically. $2,190,722 5. Fixed Assets Land $ 77,500 Systems 11,168,633 Equipment and Vehicles 579,976 Parking Lot 613,958 12,440,067 Less Accumulated Depreciation 3,064,295 $_j,375,772 1 A. General Fixed Assets Account Group The following is a summary of changes in the general fixed assets account group during the fiscal year: tBalances Balances May 1 Additions Retirements April 30 Land $2,190,722 $418,800 $2,609,522 Building and Improvements 1,314,850 1,314,850 1 Vehicles 490,037 41,914 $10,714 521,237 Equipment 1,299,496 72,755 1,372,251 $5,295,105 $533,469 $10,714 $5,817,860 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 11,168,633 Equipment and Vehicles 579,976 Parking Lot 613,958 12,440,067 Less Accumulated Depreciation 3,064,295 $_j,375,772 1 1 20 VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1989 5. Fixed Assets (Cont.) B. Proprietary Fixed Assets (Cont.) In proprietary funds, the following estimated useful lives are used to compute depreciation: Buildings 40 -50 years Water/Sewer-System 40 -60 years Machinery and Equipment 10 -20 years Vehicles 4 -5 years C. Construction Contracts The government has entered into contracts for the construction or renovation of various facilities as follows: j Required Project Expended Further Authorization To Date Commitment Financing Sewer Treatment Plant Clarifier $ 129,880 $129,880 Public Works Facility 127,300 127,300 - - Sewer Treatment Plant I Improvement 4283094 428,094 - - Phase 2A Sanitary Sewer Phase 2B Sanitary Sewer Deerfield Road Pumping Station i 1988,Street Rehabilitation Wilmot Road Pumping Station I Bridges Recreational Site 276,000 276,000 - 3,496,464 2,200,930 1,668,000 1,668,000 84,700 380,000 1,392,129 10,000 84,700 380,000 1,392,129 10,000 $1:,295,534 - 1 1 1 1 N 1 1 1 1 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1989 5. Fixed Assets (Cont.) C. Construction Contracts (Cont.) Pfingsten /Kates Road Extension Brickyard Park Development Access Avenue 3 Warwick Road Pumping Station Brickyard Park Grading Commuter Parking Lot 1989 Street Rehabilita- tion Project Expended Authorization To Date Commitment $ 816,009 $ 755,639 $ 60,370 21 Required Further Financing 28,500 253050 3,450 - 353,400 300,388 533012 - 1,549,000 1,061,016 487,984 - 14,100 - 14,100 - 104,897 - 104,897 - 70,938 10,662 60,276 - 6. Risk Management A. The government has purchased medical insurance from private insurance companies. B. 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. i i 22 VILLAGE OF DEERFIELD, ILLINOIS i NOTES TO T E FIROU AL STATMENIS APRIL 30, 1989 6. Risk Management ((bnt . ) i C. High -Level Excess Liability Pbol (HELP) The governnentparticipates in the High -Level Excess Liability Fbol (HELP). HELP is a joint venture established by certain municipalities in Illinois to provide excess liability cover %e ($5,000,,000 of cover�ge 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. i 7. lease Cbligations No material capital or operating leases were in effect as of the date of this report. I 8. IArg -Teen Debt A. General Gbligation Bonds The goverrment issues general obligation bonds to provide funds ;for the acquisition and construction of major capital facilities. i General, obligation bonds are direct obligations and pledge the full;; faith and credit of the gwernnent. General obligation bonds currently outstaniirg are as follows: Fund Debt Balances Balance s Issue Retired By May 1 Issuances Retirements April 30 Seuer age Improvement Bond Series of 1973; ($1;080,000 dated June 1, 1973; maturing Decanber 1, 1992; payable in annual installments; interest rates fray► 4.4% to 5.1 %) Sewer T�eatnent Facility Bond Series of 1973; ($2;000,000 dated June 1, 1973; maturing Decanber 1, 1992; payable in annual installments; interest rates fran 4.4% to 6.07.) Debt Service $ 325,000 Debt Service 675,000 $ 75,000 $2 50, 000 125,000 550,000 t 1 1 1 1 1 1 1 1 1 1 23 VILLA OF DEEWIELD. ILLINOIS NOTES TO THE FINANCIAL STATErENIS APRIL 30, 1989 8. Iong-Term Debt (Cont.) A. General Obligation Bonds ((ont.) Fund Debt Balances Balances Issue Retired By May 1 Issuances Retirements April 30 Corporate Purpose Bond Series of 1982; ($500,000 dated October 1, 1982; maturing December 1, 199+; payable in annual installments; interest Debt rates fran 4.4% to 6.0 %) Service $ 425,000 $ 50,000 $ 375,000 Corporate Purpose Bond Series of 1982 -A; ($500,000 dated December 1, 1982; torturing December 1, 1993; payable in annual installments; interest Debt rates fran 7.0% to 8.5 %) Service 300,000 50,000 250,000 Corporate Purpose Bond Series of 1983; ($500,000 dated December 1, 1983; torturing December 1, 1988; payable in amual installnents; interest Debt rates fran 8.5 %) Service 125,000 125,000 - Corporate Purpose Bond Series of 1986; ($11,000,000 dated May 1, 1986; maturing January 1, 2005; payable in annual installments; interest Debt rates from 6.40% to 7.75 7.) Service 10,775,000 175,000 10,600,000 Corporate Purpose Bond Series of 1987; ($10,000,000 dated October 8, 1987; maturing October 8, 2002; interest rate fran Expendable 8.4% to 8.5 %) Trust 10,000,000 10,000,000 Corporate Purpose Bond Series of 1988; ($3,000,000 dated November 1, 1988; maturing January 1, 2004; payable in annual installments; interest rates Debt fran 6.7% to 8.0%) Service $3,000,000 $22,625,000 $3,000,000 $600,000 $25,025,000 i I VILLAGE OF DEERFIELD, ILLINOIS I NOIES TO THE FINANCIAL STATEMENIS i APRIL 30, 1989 24 8. Long —Than Debt ((bnt.) i B. Revenue Bonds The government also issues bonds where the government pledges incQre derived fron the acquired or constructed assets to pay debt service. levenue bonds currently outstandirg are as follows: i Rind Debt Balances Balances Issue Retired By May 1 Issuances Retirements April 30 i Water P16venue Bond Series of 1950; ($125,000 dated January 1, 1960; maturing May 1, 1989; payable in annual installments; interest rates fran 4.25`✓ to 4.77%) %ter $ 10,000 $10,000 — Fhter Revenue Bond Series of 1959; ,($5,45,000 dated April 1, 1959; maturing May 63 1989; payable in annual installments; interest rates from 4.2-7. to 5.000 %ter 35,000 35,000 — $ 45,000 — $45,000 — 1 i 1 1 f 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1989 8. Long -Term Debt (Cont.) C. Debt Service Requirements to Maturity Annual debt service requirements to maturity are as follows: 25 General Obligation Bonds Fiscal Year General Ending Expendable Long -Term April 30 Trust Debt Totals 1990 $ 843,000 $1,777,344 $ 2,620,344 1991 843,000 1,827,600 2,670,600 1992 843,000 1,827,450 2,670,450 1993 843,000 1,827,212 2,670,212 1994 843,000 1,586,475 2,429,475 1995 843,000 1,528,262 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 7,549,000 1,446,200 8,995,200 2003 3,127,500 1,454,513 4,582,013 2004 1,432,050 1,432,050 2005 1,115,538 1,115,538 Total Principal and Interest $20,792,500 $24,445,768 $45,238,268 Interest Portion $10,792,500 $ 9,420,768 $20,213,268 25 26 i VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1989 8. Long -Term Debt (Cont.) D. Changes in Long -Term Liabilities During the fiscal year the following changes occurred in liabilities reported in the general long -term debt account group! I Balances Balances May 1 Additions ;Reductions April 30 , Sewerage Improvement Bond Series of 1973 $ 325,000 $ 75,000 $ 250,00 Sewerage Treatment Facility j Bond Series of 1973 675,000 125,000 550,00 Corporate Purpose Bond Series of 1982- 425,000 50,000 375,00 Corporate Purpose Bond Series of 1982 -A 300,000 50,000 250,00 Corporate Purpose Bond li Series of 1983 125,000 125,000 - Corporate Purpose Bond Series of 1986 10,775,000 175,000 10,600,00 Corporate Purpose Bond Series of 1988 $3,000,000 3,000,000 $12,625,000 $3,000,000 $600,000 $15,025,000 E. Legal Debt Margin i The'governmment is a home rule municipality. ; Article VII, Section 6(k) of the 1970 Illinois Constitution governs comp- utation of the legal debt margin. j "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 ;dare the General Assembly has set no limits for• home rule municipal- ities. 1 1 r 1 1 1 27 VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1989 8. Long -Term Debt (Cont.) F. Revenue Bond Ordinance Disclosures Waterworks and Sewerage Fund The ordinance authorizing the issuance of the Water Revenue Bond Series of 1959 and the subsequent Water Revenue Bond Issue of 1.960 provided for the creation of separate accounts designated as "Operations and Maintenance Account," "Principal and. Interest Account," "Depreciation Account," "Bond Reserve Account," "Surplus Account," "Improvement and Extension Account," and "Bond Redemption Account ", into which accounts there shall be credited as of the first day of each month, except as hereinafter provided for the Improvement and Extension Account and the Bond Redemption Account, all revenues of the system in accordance with the following priority: Operation and Maintenance Account - an amount sufficient to cover the esti- mated operating and maintenance expense of the water system for the current month. Depreciation Account - the sum of $250 each month until such account aggre- gates the sum of $15,000. Funds accumulated shall be used for replacements or unusual repairs for which funds are not otherwise available. Bond Principal and Interest Account - an amount at least equal to the sum of one -sixth of the interest becoming due on the next interest payment date, and one-twelfth-of the aggregate yearly amount of principal due on the next principal maturity date. Bond Reserve Account - an amount of $950 each month until such account aggregates the sum of $52,000. Funds accumulated shall be used for the payment of bond principal and interest, should the amount available in the bond principal and interest account be insufficient. to meet the payments when due. Surplus Account - any revenues remaining each month after providing for the credits to the above listed accounts shall be credited to the Surplus Account. At the end of each fiscal year, funds in this account shall be used to make up deficiencies in the prior accounts, 50% of the remaining amounts be transferred to an Improvement and Extension Account accumulated up to a maximum of $100,000 and all revenue then remaining in the surplus account may be used for the following purposes: �I A. Create a Bond Redemption Account B. Accelerate the accmulation of funds in aforementioned accounts C. Used for any lawful corporate purpose The bonds issued under these ordinances were fully paid at April 30, 1989. The reserve account will be transfered to operations and maintenance for ' fiscal 1990. 1.1 VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1989. ,f Long -Term Debt (Cont.) j F. Revenue Bond Ordinance Disclosures (Cont.) Waterworks and Sewerage Fund (Cont.) Supplemental information required subject to audit: Metered Customers Unmetered Customers Hydrants Gallons Pumped Gallons Billed Connecting Properties G. Noncd7itment Debt Industrial Development Revenue Bonds under bond ordinance 28 provisions, not $ 5,652 j 821 1,083,541,364 11,000,841,952 5,600 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. i The issuance of Industrial Development Revenue Bonds by the government is to finance in whole or in part the cost of the acquisition, purchase, construction, reconstruction, improvement, equipping, betterment or extension of any economic development project ins order to encourage economic development within or near the government. Industrial Development Revenue Bonds are. not a debt of the government. The entity using the bond proceeds to finance a construction or improvement project is liable for the bonds. Since the government does not act as an agent for Industrial Development Revenue Bonds, the transactions relating to the bonds and property do not appear in the government's financial statements. The government has authorized the issuance of the following such bonds: Date :Issued Type of Bond Amount ! Debtor 12/20/82 Industrial Revenue $1,615,000 Chi- Chi's, Inc. 4/16/84 Industrial Revenue 1,000,000 Teradyne, Inc. 12/17/84 Industrial Revenue 4,500,000 Industrialplex Limited Partnership 1 1 i 1 1 1 1 1 1 i 1 VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1989 9. Interfund Assets /Liabilities Due From /To Other Funds Receivable Fund Payable Fund Amount General Municipal Audit $ 2,022 General Street and Bridge 446 1993 Tax Increment Finance 1994 General District #2 820,000 General Sewerage 5,445 ' General Police Pension 275 Library Street and Bridge 1,741 Debt Service Emergency Services /Disaster 1,100 Debt Service Illinois Municipal Retirement 3,264 Debt Service Street and Bridge 1,007 Brickyards Tax Increment Finance Development District #1 170,000 Refuse Street and Bridge 2,480 Deposit General 1,779 $1,009,559 10. Commitments High -Level Excess Liability Pool (HELP) 9 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): Year Ending Amount 1990 $23,535 1991 23,655 1992 24,579 1993 24,493 1994 24,329 1995 24,959 1996 25,458 1997 24,947 1998 25,232 30 .. 'I I milm . :. 10. Cmmitments (Cont.) High -Level Excess Liability Pool (HELP) (font.) These amounts have been calculated using the government's current allocation percentage of 3.55%. In future years this allocation percentage will be subject to change, because the Agency's Agreement i 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 -Tore Equivalent Employees Number of Motor Vehicles Operating Revenues 11. Segment Information - Enterprise Funds I The government maintains four 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: i Cwmuter Water Sewerage Refuse Parking Lot Fund Fund Fund Fund Totals Operating Revenues $2,319,290 $1,193,252 $ 526,758 $117,207 $ 4,156,507 Depreciation, and ' Amortization Expense Operating Income (lass) Operating Transfers In Operating Transfers Out Tax Revenues Net Incare (loss) Current Capital Contributions Current Capital Transfers Plant, Property, and Equipwnt Additions Deletions Total Assets Net Working Capital Bonds and Other Long -Term Liabilities Payable from Operating Revenues Payable from Other Sources Total Equity 104,219 243,714 - i 30,698 378,631 288,161 (67,947) (544,402) 46,726 (277,462) (30,000) (31,000) - ! (30,000) (91,000) - - 541,018 - 541,018 327,724 (29,915) 45,793 16,726 360,328 17,225 29,025 - - 46,250 4,090,908 8,161,871 641,860 644,178 13,538,817 1,587,113 1,341,543 547,595 256,275 3,732,526 I 3,975,022 8,031,454 547,59i 5 642,935 13,197,006 31 VILLAGE OF DEERF IELD , ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1989 12. Contributed Capital During the year, contributed capital increased /decreased by the following amounts: Commuter Water Sewerage Parking - Fund Fund Lot Fund ' Increases - - - Decreases Depreciation $ 48,389 $ 118,957 $ 27,027 Net Increase (Decrease) (48,389) (118,957) (27,027) Contributed Capital May 1 1,961,847 6,379,368 379,240 April 30 $1,913,458 $6,260,411 $352,213 13. Fund Equity 1 A. Prior Period Adjustments During the fiscal year, prior period adjustments were made as follows: Amount General Fund To properly allocate deferred charges to a previous fiscal year. $(11,029) To write off a receivable that was deemed by the Village as uncollectable. (8,247) $(19,276) Tax Incremental Finance Distict 2 To properly reflect the amount of property tax expense booked in fiscal year 1988. $ 2,453 13 i i I 32 I VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1989 I Fund Equity (Cont.) B. Restatements Bonds Payable 64,587 The government has restated beginning the Special Assessment fund balance) due, to implementation of GASB Statement 6 - "Accounting and Financial l) Reporting for Special Assessments ". The special assessment bonds) outstanding are "no committment debt ", the government acts solely as an agent collecting assessments /property taxes and forwarding the collections to ; bondholders. Therefore, agency fund reporting has been used for GAAP purposes. 64,532 I Receivables Ch angle s As Reported Due to As Restated 299 April 30, 1988 Restatement April 30, 1988 Special Assessment Funds 9;,354 I Cash and Investments $ 64,532 I $(641,532) - Receivables The government has restated beginning Debt Special Assessments 299 +(299) - Other 9,354 (9,354) - Vouchers Payable 37,704 i (37,,704) - Special Assessment Bonds Payable 64,587 - Furid Balances (28,106) _ 28,106 - Agency Funds i Cash and Investments 64,532 $64,532 Receivables Special Assessments 299 299 Other 9;,354 9,354 Rebate Payable 74,185 i 74,185 The government has restated beginning Debt Servi.ce', and Capital Projects fund balances due to the reallocation of funds to pay for capital projects rather than debt service. 1 1 1 1 1 1 1 1 1 1 1 r 1 33 VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1989 13. Fund Equity (Cont.) B. Restatements (Cont.) Capital Projects Funds Cash and Investments 8,272,915 Changes Receivables As Reported Due to As Restated Debt Service Fund April 30, 1988 Restatement April 30, 1988 Cash and Investments $1,762,020 $(431,550) $1,330,470 Receivables 170,000 Accounts Payable 422,257 Property Taxes 968,191 67,527 968,191 Accrued Interest 13,387 570,000 13,387 Due from Other funds 11,515 Fund Balances 11,515 Interest Payable 24,899 24,899 Due to Other Funds 2,234 2,234 Deferred Revenues 1,096,826 1,096,826 Fund Balances 1,631,154 (431,550) 1,199,604 Capital Projects Funds Cash and Investments 8,272,915 431,550 8,704,465 Receivables Property Taxes 3,615,768 3,615,768 Accrued Interest 123,311 123,311 Other 118,789 118,789 Due from Other Funds 170,000 170,000 Accounts Payable 422,257 422,257 Contracts Payable 67,527 67,527 Due to Other Funds 570,000 570,000 Deferred Revenues 3,615,768 3,615,768 Fund Balances 7,625,231 431,550 8,056,781 14. Contingent Liabilities A. Litigation The government is a defendant in various lawsuits. Although the outcome of these lawsuits is not presently determinable, in the opinion of the government's attorney the resolution of these matters will not have a material adverse effect on the financial condition of the government. 34 VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1989 14. Contingent Liabilities (Cont.) i B. Grants i Amounts received or receivable from grantor agencies are subject to audit and adjustment by grantor agencies, principally the federal government. Any disallowed claims, including amounts already collected, may constitute a liability of the applicable funds. The amount, ifIany, 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. I C. High -Level Excess Liability Pool (HELP) i 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. I 15. Subsequent Events There were no material subsequent events. j 16. Joint Ventures I i A. Municipal Insurance Cooperative Association (MICA) Desc i ription of Joint Venture The;Municipal Insurance Cooperative Association (MICA) is a governmental joint venture established by certain units of local governeent in Illinois to administer some or all of their general liability ;insurance programs. I I 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. The, government does not exercise any control over,, activities of MICA beyond its representation on the Board of Directors. !MICA functions soley as an administrative agent for each member. i 1 1 1 1 1 1 1 1 '7 VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1989 16. Joint Ventures (Cont.) A. Municipal Insurance Cooperative Association (MICA) (Cont.) Summary of Financial Information of Joint Venture 35 The latest available financial statements of the Cooperative dated April 30, 1987 show the following: Total Assets Total Liabilities Total Equity Total Liabilities B. High -Level Excess Liability Pool (HELP) Description of Joint Venture Government's Total Share $1,360,140 $315,586 $ 568,138 $131,822 792,002 183,764 $1,360,140 $315,586 The High -Level Excess Liability Pool (the "Agency ") is a proprietary joint venture and was organized on April 1, 1987. The purpose of the 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 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. At the date of this report, the following municipalities were members of the Agency: Share Village of Arlington Heights 11.70% Village of Mount Prospect 7.41% Village of Chicago Ridge 2.23 Village of Oak Lawn 9.98 Village of Deerfield 3.55 City of Park Ridge 5.74 City of Des Plaines 10.59 Village of Skokie 10.25 Village of Elk Grove Village 7.82 Village of Streamwood 4.39 Village of Glenview 6.57 City of Wheaton 7.12 Village of Hoffman Estates 6.93 Village of Winnetka 4.37 Village of Lincolnshire 1.35 100.00% These percentage shares are subject to change in future years based upon a formula specified in the Agency Agreement. 36 VILLAGE OF DEERF IELD , ILLINOIS NOTES TO THE FINANCIAL STATEMENTS i APRIL 30, 1989 i 16. Joint Ventures (Cont.) i B. High -Level Excess Liability Pool (HELP) (Cont.) Description of Joint Venture (Cont.) 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 Agency beyond its representation on the Board of Directors. Summary Financial Information of Joint Venture Summary of Financial Position as of April 30, 1989: Assets Liabilities and Fund Current Assets Current Liabilities Cash and Investments Claims Payable Unrestricted $1,836,740 Due to Village of Escrow Agreement 5,191,551 Elk Grove!Village 7,028,291 Accrued Interest Payable Deferred Revenues Receivables Accounts 174,453 Accrued Interest 1,542 Long -Term Liabilities 175,995 Rebate Payable Due to Village of Elk Grove; Village Total Liabilities Fund Equity Retained Eaxnings Total Liabilities Total Assets $7,204,286 and Fund Equity I t i $ 50,000, 375,000 136,320 530,718 1,092,038 j 14,496 4,275,000 4,289,496 5,381,534 1,822,752 $7,204,286 1 1 1 1 i 1 1 1 1 1 1 1 1 1 1 1 1 1 1 37 VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1989 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, 1989: Operating Revenues $ 962,059 Operating Expenses 50,333 Operating Income 911,726 Nonoperating Revenues (Expenses) Interest Income 501,191 Interest Expense (308,731) 192,460 Net Income 1,104,186 Retained Earnings May 1 718,566 April 30 $1,822,752 Government's Share of Assets, Liabilities, Fund Equity and Changes for the year ended April 30, 1989: Total Assets Total Liabilities Fund Equity Retained Earnings Total Liabilities and Fund Equity Government's Share of Net Income: Balances Increases Balances May 1 (Decreases) April 30 $231,570 $ 24,182 $255,752 $205,729 $(14,641) $191,088 25,841 $231,570 38,823 64,664 $ 24,182 $255,752 $ 38,867 3 VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1989 16. Joint Ventures (Cont.) 17. B. High -Level Excess Liability Pool (HELP) (Cont.) Joint Venture Debt - Changes in Long -Term Debt Balances Balances May 1 Issuances Retirements April 30 Due to Village of Elk Grove Village j 'for Retirement of General Obligation Bonds $5,000,000 - $350,000 $4,650,000 Joint Venture Debt - Security for the Debt The Village of Elk Grove Village, Illinois (the; initial Host Member)I 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. Deferred Compensation Plan ? ` I The government offers its employees a deferred compensation plan created ii 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 compen'sation is not available to employees until termination, retirement; death for 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 arse (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. i 39 VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1989 17. Deferred Compensation Plan (Cont.) 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 retired public safety employees. Substantially all of the government's public safety employees may become eligible for those benefits if they reach normal retirement age while working for the government. The cost of retiree health care and life insurance benefits is recognized as an expenditure as claims are paid. For the fiscal ' year those costs, total $180. 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. 19. Employee Retirement Systems 1 1 A. Plan Descriptions and Provisions Illinois Municipal Retirement ' The. government contributes to the Illinois Municipal Retirement Fund ("IMRF"), an 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, 1988, was $4,047,365. Of this amount, $2,529,121 in payroll earnings were reported to and covered by the IMRF system. All employees hired in positions that meet or exceed the prescribed annual hourly standard must be enrolled in IMRF as participating members. Pension benefits vest after eight years of service. Participating members who retire at or after age 60 with 8 years of credited service are entitled to an annual retirement benefit, payable monthly for life, in an amount equal to l 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. 1 1 40 VILLAGE OF DEERFIELD. ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1989 19. Employee Retirement Systems (Cont.) A. Plan Descriptions and Provisions (Cont.) j Illinois Municipal Retirement (Cont.) i Participating members are required to contribute 4.5 percent of their annual salary to IMRF. The government is required to contribute the remaining amounts necessary to fund the coverage of its own employees in the' System, using the actuarial basis specified by, state statute (entry age,'normal); for 1988 the rate was 8.08 %. Police Pension Police sworn personnel are covered by the Police Pension Plan which is a defined benefit single - employer pension plan. lAlthough this is a single- employer pension plan, the defined benefits and employee and employer contributions levels are governed by Illinois State Statutes i (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, 1989 was' out of a total payroll of $4,020,429. At April 30, 1989 the Police Pension Plan membership consisted of: Retirees and Beneficiaries Currently Receiving Benefits and Terminated Employees Entitled to Benefits but not yet Receiving Them 6 Current Employees I Vested 21 Nonvested 12 Total 39 i The following is a summary of the Police Pension Plan as provided for in Illinois State Statutes. i 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 mor ;e 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 VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1989 19. Employee Retirement Systems (Cont.) ' A. Plan Descriptions and Provisions (Cont.) Police Pension (Cont.) 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 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. B. Summary of Significant Accounting Policies and Plan Asset Matters Basis of Accounting 1 The financial statements are prepared using the accrual basis of 1 accounting. Employee and employer contributions are recognized as revenues in the period in which employee services are performed. Method Used to Value Investments Fixed - income securities are reported at amortized cost with discounts or ' premiums amortized using the effective interest rate method, subject to adjustment for market declines judged to be other than temporary (lower of cost or market). Investment income is recognized as earned. Gains and losses on sales and exchanges of fixed - income securities are recognized on. the transaction date. Equity securities are reported at cost subject to adjustment for market declines fudged to be other than temporary (lower of cost or market). 1 19. 42 VILLAGE OF DEERFIELD, ILLINOIS I NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1989 E Employee Retirement Systems (Cont.) B. Summary of Significant Accounting Policies and Plan Asset Matters (Cont.) i Significant Investments The!, following are investments (other than U.S. government and U.S. government- guaranteed obligations) in any one organization that represent 5 percent or more of net assets available for benefits: i Plan Organization i Amount Police Pension Illinois Public Treasurers Investment Pool $515,453 Police Pension Life Insurance Company Contract i $470,000 Related Party Transactions There are no securities of the employer or any other related parties included in plan assets, including any loans. ' I C. Funding Status and Progress The amount shown below as the "pension benefit obligation" is : 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 ash 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 it accumulating sufficient assets to pay benefits when due, and make comparisons among employers. The measure is the actuarial present value of icredited projected benefits and is independent 'of the funding methoc used to determine contributions to the System. 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 43 VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1989 19. Employee Retirement Systems (Cont.)- C. Funding Status and Progress.(Cont..) Illinois Municipal Police Retirement Pension December 31, April 30, Actuarial Valuation Date 1988 1989 Significant Actuarial Assumptions a) Rate of Return on Invest- 7.00% 9.00% ment of Present and compounded compounded Future Assets - annually annually b) Projected Salary 3.75% ] 6.50% Increases - Attributable compounded ] compounded to Inflation annually ] annually ] ] c) Additional Projected ] Salary Increases - ] (Note - separate information Attributable to ] for b) and c) not available) Seniority /Merit 1.00% ] d) Postretirement Benefit 3.00% 3.00% Increases simple interest annually Y VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1989 19. Employee Retirement Systems (Cont.) i C. Funding Status and Progress (Cont.) ,I I Illinois Municipal Police Retirement Pension Totals Pension Benefit Obligation Retirees and Beneficiaries Currently Receiving Benefits and Terminated (Note A) (Note; C) Employees not yet Receiving Benefits $ 46,042 $1,2821,020 $1,328,062 Current Employees ] Accumulated Employee ] Contributions ] Including Allocated ] 927,656 6,633,158 Investment Earnings 874,000 ] (NoteB) Employer - Financed Vested 1,943,800 J 2,544,490 Employer - Financed ] Nonvested 274,101 ] 691,111 Total Pension Benefit Obligation 3,137,943 4,823;277 7,961,220 Net Assets Available for Benefits, at Lower of Cost;or Market (Market Values) (IM RF - $1,596,771) (Police - 6,105,985) (Totals $7,702,756) Unfunded (Assets in Excess of) Pension Benefit Obligation i 1,488,727 5,6923'555 7,181,282 I $1,649,216 $ (869)1278) $ 779,938 (Note A) The pension benefit obligation applicable to retirees and beneficiaries currently receiving benefits is not included in the above schedule due to the fact that this obligation was transferred from the government to IMRF as,a whole when the annuity became payable. i t n . 45 1 VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS ' APRIL 30, 1989 1 19. 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 periodic contributions at rates that, for individual employees, accumulate assets gradually over time so that sufficient assets will be available to pay ' benefits when due. The rate for the government's employee group as a whole has tended to remain level as a percentage of annual covered payroll. The contribution 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 benefit obligation as described in C. above. pension 1 1 1 i 46 VILLAGE OF DMF'IEIA, ILLINOIS NOES TO TEE FINANCIAL STATEENTS t APRIL 30, 1989 19. Employee Retirement Systems (Cont.) D. Wntributions Required and (bntributions Made ((bnt.) Actuarial Valuation late Actuarially Determined Contribution Requirerrent ;Employer As a Dollar mount Normal Cost Amrtiration of Unfunded Actuarial Accrued Liability Death and Disability Cost As a % of Current Covered Payroll Normal Cost! Awrtization of Unfunded Actuarial Accrued Liability Death and Disability Cost Contribution Made As a Dollar Amount Employer Employee As a% f n— t Cove ed P 11 Illinois $ 84,690 $150,700 Municipal Police Retirement Pension Totals i December 31, April 30, 1988 1989 $ 66,01.0 $ 84,690 $150,700 116,592 35,963 152,555 21,750 21)750 $204,352 $120,653 $325,005 2.61% 6.14% 3.8.7% 4.61 2.60 3.90 .86 .55 i 8.09/ 8.74% 8.30% $204,352 $155,430 $359,782 113,907 83,619 197,526 $318,259 $239,049 $557,308 0 o en r ayro Employer 1 8.087. 11.267. 9.20/ Employee 4.50 i 6.06 5.05 12.58% 17.327. 14.25% Effects on the (bntriburtion Requirements of Current Year (ranges j Illinois Hnicipal Retirenent Current'-year changes in the actuarial assumptions, benefit provisions, and nethodolcgy, will be incorporated in the 1989 and 1990 employer contribution rates. 'These changes are estimated to increase the 1990 rate by approximately 1.53 percent of payroll over the 1989 rate. Separate dollar effects of each change were not econami.cally deteiminable on an individual employer basis by WF. I i t 47 VILIACE OF DEERFIELD. ILLINOIS 1 1 1 1 1 r i 1 1 1 1 1 1 1 1 1 NOTES TO THE FINANCIAL STATEMMS APRIL 30, 1989 19. FWloyee Retirement Systens (Cont.) D. Contributions Required and Contributions Made (Cont.) Effects on the Contribution Requirenents of Orrent- -Year Charges (Cont.) Police Pension There have been no current-year charges in the actuarial assumptions, actuarial fmdirg nethod, or benefit provisions. E. trend information Trend information gives an indication of the progress made in acamulatirg sufficient assets to pay benefits wren due. Ten-year trend information may be found in the supplemental section of the government's annual financial report. 11 linois Municipal Police Year Retirement Pension Totals Net Assets Available for Benefits As a % of the Pension Benefit 1988 55.29% 118.0% Cbligition (PBO) 1989 47.44 118.0 Unfunded (Assets in Excess of) PBO , As a % of Annual Cowered Payroll (Expressirg the unfunded pension benefit obligation as a percent- age of arnAl covered payroll approximately. adjusts for the effects of inflation for analysis purposes) Employer Contributions 1988 63.00 62.0 1989 65.21 63.0 As a % of Annual Covered 1987 8.27 15.08 Payroll 1988 8.21 12.05 1989 8.08 11.26 Required 1987 $167,152 $108)586 $275,738 1988 179;472 139,841 319,313 1989 204,352 120,653 325,005 Made 1987 167,152 180,434 347,586 1988 179,472 150,024 329,496 1989 204,352 155,430 358,752 (During the implanentation transition period all information required is presented for as many Wars as is available.) e 1 p 1 ' GOVERNMENTAL FUND TYPES 9't i i i 1 1 1 1 1 1 1 1 f 1 1 1 1 1 1 1 1 GENERAL FUND i i I I I t I I i i II I I�� i i i 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 Fund Description General Fund General Fund - (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. 48 VILLAGE OF DEERFIELD, ILLINOIS GENERAL FUND BALANCE SHEET APRIL 30, 1989 ASSETS 1989 1988 Cash and Investments $3,418,096 $3,174,359 Receivables 54,008 53,863 Property Taxes 892 194,667 Accrued Interest 9,778 43,098 Other 98,225 145,113 Due from Other Governments ' 10,382 Sales Tax 123,218 128,620 State Income Tax 69,770 54,188 Court Fines 13,144 10,089 Due from Other Funds 828,188 414,217 Investment in Joint Venture - HELP 40,221 16,123 Total Assets $4,600,640 $4,180,474 LIABILITIES AND FUND BALANCE Liabilities Accounts Payable $ 109,721 $ 166,582 Accrued Payroll 54,008 53,863 Contracts Payable 892 33,037 Compensated Absences Payable 297,917 259,222 Other Pay;ables 6,390 30,803 Due to Other Funds 1,779 10,382 Deferred,Property Taxes 220,000 Total Liabilities 470,707 773,889 Fund Balance Reserved for Investment in Joint Venture - HELP 40,221 16,123 Unreserved Designated - Capital Improvements 1,000,000 1,522,000 Undesignated 3,089,712 1,868,462 Total Fund Balance 4,129,933 3,406,585 Total Liabilities and Fund Balance $4,600,640 $4,180,474 See accompanying Notes to the Financial Statements. 11 ' VILLAGE OF DEERFIELD, ILLINOIS 1 ' See accompanying Notes to the Financial. Statements. 1 GENERAL FUND ' STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL FOR THE YEAR ENDED APRIL 30, 1989 1989 1988 ' Budget Actual Actual Revenues Taxes $2,973,000 $3,277,477 $2,806,194 Licenses and Permits 219,500 467,923 224,492 Intergovernmental 5,000 7,164 1,703 Charges for Services 109,000 100,539 83,409 ' Fines and Forfeits 235,000 206,902 240,598 Miscellaneous 413,820 489,664 648,067 . ' Total Revenues 3,955,320 4,549,669 4,004,463 Expenditures General Government 1,411,050 1,384,532 1,246,347 Public Safety 2,614,272 2,359,378 2,251,474 Total Expenditures 4,025,322 3,743,910 3,497,821 Excess (Deficiency) of Revenues ' over Expenditures (70,002) 805,759 506,642 Other Financial Sources (Uses) Operating Transfers In (Out) Youth Bound Fund (4,000) (4,000) .(4,000) Street and Bridge Fund (135,000) Federal Revenue Sharing Fund 2,807 Motor Fuel Tax Fund (6,213) Transportation Fund (2,000) (2,000) (2,000) ' Tax Incremental Finance District 2 Fund (25,000) (50,922) (16,255) (31,000) (63,135) (154,448) Excess (Deficiency) of Revenues and Other ' Financing Sources over Expenditures and Other Financing Uses $ (101,002) 742,624 352,194 Fund Balance ' May 1 3,406,585 3,054,391 Prior Period Adjustment (19,276) ' Adjusted Balance 3,387,309 3,054,391 April 30 $4,129,933 $3,406,585 1 ' See accompanying Notes to the Financial. Statements. 1 i 50� VILLAGE OF DEERFIELD, ILLINOIS ' GENERAL FUND SCHEDULE OF REVENUES - BUDGET AND ACTUAL t FOR THE YEAR ENDED APRIL 30, 1989 Budget Actual Taxes Property Taxes - General $ 120,000 $ 218,151 Sales Tax 1,890,000 1,978,225 ' Income Tax 463,000 521,687 Hotel Motel Tax 500,000 559,414 2,973,000 3,277,477 t Licenses and Permits 41 50,800 Beer /Liquor Licenses 4 500 4,500 4,517 Food Licenses Other Business Licenses 8,000 8,022 Building Permits 1215,000 360,443 Animal Licenses 6,000 6,890 ' Non - Business Licenses and Permits 3.1,000 37,251 21.9,500 467,923 ' Intergovernmental 5,000 7,164 State Grants Charges for Services 59,000 44,516 Special Police Services Transfer'Charges 45,000 Engineering Charges 5,000 11,000 11,023 , 109,000 100,539 Fines and Forfeits 235,000 206,902 Miscellaneous False Alarms 22,000 35,015 Sale of Materials 389 ' Rentals 38,320 32,704 Interest 215,000 246,944 Miscellaneous 18,500 .25,006 Franchise Fees 120,000 125,508 ' Income from Joint Venture 413,820 24,098 489,664 Total Revenues $3,955,320 $4,549,669 1 1 1 1 1 1 1 1 1 1 1 l 1 1 1 1 1 51 VILLAGE OF DEERFIELD, ILLINOIS GENERAL FUND SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL FOR THE YEAR ENDED APRIL 30, 1989 General Government Administration Department Salaries Overtime Part -Time Employee Benefits Professional Services Travel, Training and Dues Printing and Advertising Communications Insurance Contractual Services Utility Services Motor Vehicle Maintenance Repairs and Maintenance Equipment Rental Rental Property Repairs Miscellaneous Supplies Materials Motor Vehicle Supplies Dog Pound Housing Assistance Apparel Small Tools and Equipment -Equipment Office Furniture Advisory Boards Motor Vehicles Computer Project Contractual Services Total General Government Budget Actual $ 658,250 $ 546,505 7,900 14,258 105,000 89,572 90,000 74,357 193,000 98,484 17,500 17,554 12,000 13,563. 23,000 20,515 71,600 71,721 55,000 64,041 2,000 2,915 6,000 4,897 64,500 119,641 432 3,000 3,172 30,000 77,598 20,000 23,759 2,000 1,484 2,000 16,569 3,483 25,000 29,250 300 60 1,000 20 6,000 9,831 49,157 9,711 16,000 18,500 1,411,050 1,381,049 3,483 $1,411,050 $1,384,532 52 VILLAGE OF DEERFIELD, ILLINOIS GENERAL FUND SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.) FOR THE YEAR ENDED APRIL 30, 1989 Patrol Salaries Budget Actual Public Safety 50,400 49,695 Police Department 45,170 28,951 Administrative Service 131,060 107,804 Salaries $ 355,950 $ 379,455 Overtime 3;150; 3,590 Part -Time 15,750 11,438 Employee Benefits 393570 37,056 Professional Services 5,900 1,842 Travel, Training and Dues 53600 4,105 Printing and Advertising 6,400 3,865 Communications 34,7001 Insurance 141,300 133,455 Contractual Services 38,500 24,886 Motor Vehicle Maintenance 2,000 1,540 Repairs and Maintenance 16,500 4,129 Supplies 13,500 11,100 Apparei 3,750 3,750 Equipment 26,000 8,896 Motor Vehicles 83000 7,000 Miscellaneous 83000 13,426 724,570 670,043 Investigations Salaries 120,750 83,211 Overtime 9,350 43568 Employee Benefits 15,210 7,987 Travel, Training and Dues 1,250 337 Contractual Services 27,090 26,638 Motor Vehicle Maintenance 2,750 2,067 Repairs and Maintenance 13800 203 Supplies 4,500 2,853 Motor !Vehicle Supplies 1,000 856 Apparel 1,200 1,200 Equipment 8,950 6,808 193,850 136,728 Patrol Salaries 1,125,800 1,096,441 Overtime 50,400 49,695 Part -Time 45,170 28,951 Employee Benefits 131,060 107,804 Travel, Training and Dues 24,240 14,236 Motor Vehicle Maintenance 25,790 25,197 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 53 VILLAGE OF DEERFIELD, ILLINOIS SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.) Public Safety (Cont.) Police Department (Cont.) .Patrol (Copt.) Repairs and Maintenance Supplies Motor Vehicle Supplies Apparel Equipment Motor Vehicles Special Services Salaries Youth Services Salaries Overtime Employee Benefits Travel, Training and Dues Motor Vehicle Maintenance Repairs and Maintenance Supplies Motor Vehicle Supplies Apparel Equipment Total Public Safety Total Expenditures Budget Actual $ 2,000 $ 584. 8,800 6,183 25,000 20,127 14,900 18,469 10,600 5,318 32,000 24,726 1,495,760 1,397,731 26,250 18,004 140,200 115,830 6,300 3,464 17,312 10,910. 1,600 200 2,500 2,712 900 930 380 2,000 1,240 800 800 1,300 1,336. 173,842 136,872 2,614,272 2,359,378 $4,025,322 $3,743,910 1 1 1 1 1 ri 1 D 1 E 1 1 1 c SPECIAL REVENUE FUNDS 1 1 i Fund Descriptions. Municipal Audit Fund Municipal Audit Fund - An independent, outside audit is conducted by a firm engaged by the Mayor and Board of Trustees on an annual basis as required by State law. These are earmarked funds that can only be expended for audit purposes. �1 Emergency Services /Disaster Fund.. Emergency Services and Disaster Fund - The Emergency Services and Disaster Agency supersedes the Civil Defense Agency and now basically relates to natural disasters caused by floods and tornadoes. The Agency also prepares a plan of action to be taken if man -made disasters occur. Youth Bound Fund 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. Library Fund �f Library Fund - To account for the resources necessary to provide the educational, cultural and recreational activities of the Deerfield Public Library. ,t, ;t 1 I t Street and Bridge Fund Street and Bridge Fund - Accounts for the revenues and resources used in main- taining approximately 70 miles of street and the Railroad Station in the Village of Deerfield. Illinois Municipal Retirement Fund 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 with a portion of F.I.C.A. Contributions. Public Benefit Fund. 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. I Fund Descriptions Motor Fuel Tax Fund 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 Transportation Fund - To account for the Taxi Subsidy Program established for senior citizens and the handicapped. !I II i I oy� a O co t+1 v u C; m ro L � � N fU �+ u O -• � N L C L ro ro u L u 0 L v c i v 54 8 p N M N N "' C` M A n O y O� ✓1 NO p O "- ��n7 10 V1 1O r., W fT op N 8,pMU�2 .--i .--i W . ndnOn W .r M cl) O 0DQ` o0 N � •--� m N N ~ N N ,.r ro L n`C��pnvMi d n fn fn fA n ri 7� �`oSo<"� o rni � W m N fn f% 1!1 O n N T n � N M M � � .-. .-i ~ N ~ ~ UN} C O .0 ro 10 10 a l 10 1I E X �ooOpp O� O, oo O O+ S. FN C1 fb O ON q O 0 U1 O M N ,p c+1 N N N I N N P. n1 M `tQr yr ID ID yr 1 rn yCy oo .� N .n-i 18 fT N d C Q N O " N ti •r •UUn1l QNp M p cl) V1 00 j-4 M� N u1 �7 O� M v 7. R: l? V> aoc 1p 8 fn ff1 y 1•' oo prn� O� a, Ln N n fQj ��npp O cy, V} N f '1 f+1 N N En N c/} LI d �O .�•� n ri W W .ni O •� T oo n rn ff��LL�tltl,,,111IIII p WI d fT fn op fT N O M fn fn M O n n N O I O I I� O) r zi tYr as C y l v v v rn m n n p pp o� rn 880I n cif A VT VII v .r � C C 0250 o oo g ff1 N N N v4 v u C; m ro L � � N fU �+ u O -• � N L C L ro ro u L u 0 L v c i v 54 �I O ' I I I r� Ol ID M 'D a0 N V1 � n O n M O .n in pp �. M N op Oj aO uNi 11 00 O Opp N vii pp pOOpppp�� pppp �o M 'D rc-, .-i ON o , M -v2 1 W N /? N N W j N 0 Ol DNM �O V1 NOD ��OO if I(ay0\� O T N ICI O N .^. M N pp W N N pp v O W NM.-. .. -, M O DO JM �v I a, Q, M N N C � O y t N N pp v ? tCCO N MI 'OD NI N 'D W v I I I N H XX I u ti O N N N W M N N O I O II U N I M M M M I 10I t I 4• M ,n v1 n l9 M ��".M -, N O88 V u� O ,n pp aO � T N O O O 00 O L. P N c.) r- � m�D f+1 v N U1 rl N N cN rol o a n oo co I v V) N .i N N "' r Pq i N c.4^ vl � ICI � i NI NII clj I N N cN M I [�1 •� N W ICI ICI M W n tF1 � N I I Q I cli O w I� N W u 61 u• cuy D D u 4 L D O c Q) u C W G v V O c v v u 0 bl E° �I i c bi m �u L V/ v I I 55 I I' 1 r i i r r r VILLAGE OF DEERF IELD , ILLINOIS MUNICIPAL AUDIT FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE — BUDGET AND ACTUAL FOR THE YEAR ENDED APRIL 30, 1989 Revenues Taxes Property Taxes Miscellaneous Interest Other Total Revenues Expenditures Miscellaneous Contractual Excess (Deficiency) of Revenues over Expenditures Fund Balance May 1 April 30 - 1989 1988 Budget Actual Actual $12,000 $10,419 $10,772 34 36 13 12,000 10,453 10,821 12,000 11,600 10,850 - (1,147) (29) 12,223 12,252 $11,076 $12,223 See accompanying Notes to the Financial Statements. 56 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, 1989 Revenues Taxes Property Taxes Miscellaneous Interest Other Total Revenues Expenditures Public Safety Travel, Training and Dues Communicat ions Insurance Contractual Utility Services Motor Vehicle Maintenance Motor Vehicle Supplies Repairs and Maintenance Supplies Equipment Total Expenditures Excess (Deficiency) of Revenues over Expenditures Fund Balance May 1 April 30 57 � See accompanying Notes to the Financial Statements. 1989 1988 Budget Actual i Actual $ 5,000 i $;4,948 I $ 5,130 i i 12 17 6 5,000 4 , 960 I 5,153 I 600 572 496 � 1,400 1,563 1,747 600 69 365 300 156 100 109 116 1,300 798 1,488 200 i 800 323 755 500 346 211 500 2,514 6,300 6,294 I 5,334 j i $(1,300) (1,334) i (181) 1 18,718 ' j 18,899 $17,384 i I ' I $18,718 I j I I j See accompanying Notes to the Financial Statements. 58 VILLAGE OF DEERFIELD, ILLINOIS YOUTH BOUND FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE — BUDGET AND ACTUAL FOR THE YEAR ENDED APRIL 30, 1989 1989 1988 Budget Actual Actual Revenues Charges for Services Project Income $10,500 — $ 7,210 Expenditures Culture and Recreation Travel Advances 4,085 Travel, Training and Dues 1,100 779 Insurance 650 $ 69 395 Motor Vehicle Maintenance 3,500 1,140 5,895 Motor Vehicle Supplies 900 8 628 Repairs and Maintenance 200 Supplies 5,200 849 Equipment 1,500 Communications 1,600 794 1,582 Contractual 1,000 128 1,544 Total Expenditures 15,650 2,139 15,757 Excess (Deficiency) of Revenues - over Expenditures (5,150) (2,139) (8,547) Other Financing Sources Operating Transfers In General Fund 4,000 4,000 4,000 Excess (Deficiency) of Revenues and Other Financing Sources over Expenditures $(1,150) 1,861 (4,547) Fund Balance May 1 2,449 6,996 April 30 $ 4,310 $ 2,449 See accompanying Notes to the Financial Statements. 59 VILLAGE OF DEERFIELD$ ILLINOIS LIBRARY FUND STATEMENT OF REVENUES, EXPENDITURES,! 11 AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL i FOR THE YEAR ENDED APRIL 30, 1989 i 1989; 1988 Bu_ dget Actual Revenues Actual ---- -- I Taxes Property Taxes i Replacement Taxes $722,017 ;$716,732 $689,406 Intergovernmental 16,000 20 326 Grants 16,894 Charges for Services 17,255 Non- Resident Fees 17,432 17,313 Fees, Fines, Penalties 15,000 13,499 13,224 i Reciprocal Borrowing 22,696 26,999 23 ' Xerox 2,000 4,087 ,113 Videos 15,000 11,131 1,074 Miscellaneous 21,000 14, 28,029 23,4483 83 Interest Gifts 25,000 34,416 31,500 Reserve, for Repairs and Replacement 500 753 761 Other 140,000 Total Revenues 27 99 466 8 873,404 831,570 Expenditures Culture an'd Recreation 99, 6_ ,468 880,734 876,055 Excess (Deficiency) of Revenues over Expenditures !(7,330) (44,485) Fund Balance May 1 26� 3_ ,149 307,634 April 30 $255,819 $263,149 i See accompanying Notes to the Financial Statements. i + j 'I �I VILLAGE OF DEERFIELD, ILLINOIS LIBRARY FUND r SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL FOR THE YEAR ENDED APRIL 30, 1989 1 M / Budget Actual Culture and Recreation ' Salaries - Professional Salaries $219,561 $218,828 - Non - Professional 295,419 286,533 Employee Benefits 30,000 31,879 Professional Services 6,000 1,393 Education, Travel and Dues 8,000 6,934 Communication 8,000 8,971 Insurance 12,000 10,806 ir Contractual Services 11,000 7,408 Utilities 700 662 Repairs, Maintenance of Building and Equipment Building Supplies 39,000 46,406 Supplies - Library and Office 21,000 20,460 Books 86,000 94,440 Periodicals 26,000 25,956 Audio - Visual 18,000 20,173 Binding 1,000 1,195 Special Library Programs 5,000 4,121 Data Base 1,500 516 New Equipment 35,000 28,479 Printing 5,000 4,183 'i Computer Service 411 Cataloging Service 5,,000 3,693 Miscellaneous 400 1,800 Automation Project 72,000 55,487 Improvements - Other than Building 90,888 Total Expenditures $996,468 $880,734 1 M / Revenues Taxes Property Taxes Other Taxes Licenses and Permits Vehicle Licenses Charges for Services State Highway Maintenance 50/50 Sidewalk and Curb 50/50 Tree Train Station Maintenance Miscellaneous Interest' Other Total Revenues I i 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, 1989 i I 1989, Budget Actual i $330,000 $233,835 180,000 180,000 270,000 �� 278,530 18,000 20,765 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 1 Other Financing Sources (Uses) Operating Transfers In (Out) General Fund Commuter Parking Lot Fund Replacement Fund 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. 25,000 5,000 1,500 22,000 5,000 856,500 121,580 36,350 43,350 87,930 54,960 17,770 120,630 86,580 122,830 17,740 23,820 33,410 16,490 40,080 823,520 32,980 30,000 (61 ,000 ) (31,000) $ 1,980 9,208 3,905 42,172 6,718 775,133 129,876 30,324 39,548 86,050 49,335 24,937 89,468 97,398 108,166 19,002 22,998 27,960 12,906 27,961 765,929 9,204 30,000 (61,000) 31,000) (21,796) I 226,856 $205,060 I 611 4 1988 Actual $246,210 180,000 156,15,; 23, 7521 15,0551 1, 1601 1,5001 32,6911 8,585; 665,112( 95,371] 30,1361 38,4741 71,723) 37,411 17,259 I 111,819 71,715 133,670 12,317 24,978 24,020 i 10,195 28,618 .' 707,706 (42,594) 135,000 1 20,000 .� 155,000 112,406 114,450 1 $226,856 1 1 1 f 1 1 I U 1 It 1 1 N i r i i l� 1 VILLAGE OF DEERFIELD, ILLINOIS STREET AND BRIDGE FUND SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL FOR THE YEAR ENDED APRIL 30, 1989 121,580 129,876 Cleaning Salaries Budget Actual Highways and Streets 1,160 1,762 Public Works 3,190 1,129 Administration 500 455 Salaries $ 37,300 $ 50,964 Overtime 3,900 4,742 Employee Benefits 6,650 4,684 Professional Services 2,200 464 Travel, Training and Dues 1,000 2,187 Printing and Advertising 4,400 4,139 Communications 4,630 5,135 Other 48,600 44,359 Motor Vehicle Maintenance 2,000 3,190 Miscellaneous 2,200 2,958 Supplies, 3,000 3,522 Motor Vehicle Supplies 1,200 4,551 Apparel 1,800 1,350 Repairs and Maintenance 1,500 172 Contractual 1,200 2,201 121,580 129,876 Cleaning Salaries 13,500 11,038 Overtime 1,160 1,762 Employee Benefits 3,190 1,129 Small Tools and Equipment- 500 455 Contractual 3,700 1,997 Motor Vehicle Maintenance 4,000 4,742 Repairs and Maintenance 5,500 6,921 Equipment Rental 1,500 Motor Vehicle Supplies 1,500 1,791 Supplies 1,800 489 36,350 30,324 Traffic Marking Salaries 13,130 15,025 Overtime 320 155 Part -Time 2,730 2,691 Employee Benefits 4,370 1,961 Motor Vehicle Maintenance 1,000 161 Repairs and Maintenance 800 544 Motor Vehicle Supplies 500 42 62 VILLAGE OF DEERFIELD, ILLINOIS STREET AND BRIDGE FUND SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.) FOR THE YEAR ENDED APRIL 30, 1989 Highways and Streets (Cont.) Public Works (Cont.) Traffic Marking (Cont.) Materials Street Signs Contractual Pavement Patching Sal ar ie s Overt ime Employee Benefits Motor Vehicle Maintenance Repairs and Maintenance Supplies Motor Vehicle Supplies Aggregates Materials Tarring Cracks Salaries Overtime Part -Time Employee Benefits Motor Vehicle Maintenance Repairs' and Maintenance Motor Vehicle Supplies Aggregates Materials Equipment Rental Equipment Drainage 'Structures Salaries Overtime Employee Benefits Motor Vehicle Maintenance Repairs and Maintenance Motor Vehicle Supplies Aggregates Materials Budget $ 4,000 6,500 10,000 43,350 i 33,540 1,260 7,230 5,000 5,500 600 2,000 30,800 2,000 87,930 19,140 630 2,730 1,660 1,400 1,900 3, 000 500 15,000 2,500 6,500 54 , 960 7,650 ` 950 1,570 2,000 2,300 300 1,000 2,000 17,770 i i Actual $ 1,023 7,039 10,907 39,548 35,861 335 3,520 6,916 4,214 529 32,909 1,766 86,050 20,768 235 2,667 2,995 1,143 1,441 864 846 12,938 331 5,107 49,335 13,468 65 1,962 3,923 693 71 1,132 3,623 24,937 63 I �I 64 VILLAGE OF DEERF IELD , ILLINOIS STREET AND BRIDGE FUND SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.) FOR THE YEAR ENDED APRIL 30, 1989 t Budget Actual Highways and Streets (Cont.) Public Works (Cont.) Street Lights and Traffic Signals Salaries $ 7,000 $ 8,637 - Overtime 1,160 2,433 Employee Benefits 1,470 993 Contractual Utility Services 31,000 65,400 8,361 53,541 Motor Vehicle Maintenance 1,500 1,466 Repairs and Maintenance 1,000 3,619 Equipment Rental 1,000 Motor Vehicle Supplies 800 151 Aggregates 300 505 Materials 10,000 120,630 9,762 89,468 Miscellaneous Maintenance Salaries 20,400 24,360 Overtime 1,160 5,946 Employee Benefits 720 2,120 .� Contractual 53,700 49,937 Motor Vehicle Maintenance 1,000 1,077 Repairs and Maintenance 3,000 2,759 Small Tools and Equipment Miscellaneous 300 500 29 956 Motor Vehicle Supplies 600 757 Aggregates 1,000 4,982 Materials 2,200 4,132 Equipment Rental 2,000 343 86,580 97,398 Snow and Ice Control Salaries 38,850 8,161 Overtime 9,870 20,637 Employee Benefits 1,510 1,415 Communications 800 Motor Vehicle Maintenance 7,000 10,582 _ Repairs and Maintenance 18,000 17,910 Equipment Rental 1,000 Supplies 2,500 518 Motor Vehicle Supplies 5,300 1,633 '-� Salt 32,000 39,463 t VILLAGE OF DEERFIELD, ILLINOIS STREET AND BRIDGE FUND SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL'I(CONT.) FOR THE YEAR ENDED APRIL 30, 1989 i Highways and Streets (Cont.) Buffet Public Works (Cont.) Snow acid Ice Control (Cont.) Aggregates Materials Weed Control Salaries Overtime Part -Time Employee Benefits MotorVehicle Maintenance Repairs and Maintenance Motor Vehicle Supplies Materials Equipment Leaf Removal Salaries Overtime Employee Benefits Motor !Vehicle Maintenance Repairs and Maintenance Motor !Vehicle Supplies Suppl e s Tree Removal Salaries Overtime Part -Time Employee Benefits Contractual Motor 'Vehicle Maintenance Repairs and Maintenance Motor Vehicle Supplies Materials Equipment Equipment Rental 1 $� 4, 000 122,830 i 6,380 110 2,730 520 1,000 3,000 500 j 3,000 500 '17 _,740 42,760 2,300 2, 760 1,500 4,000 500 23 ,820 7,000 630 4,300 1,580 1'5, 000 700 600 400 2, 200 500 ! 500 33 410 Actual $ 3,966 3,881 108,166 7,995 31 2,607 944 1,612 4,091 380 842 500 19,002 8,152 7,044 1,173 956 5,318 280 75 22,998 8,580 455 4,133 1,242 10,054 922 1,818 102 207 447 27,960 �j15 1 1 '1 �I 1 1 '1 1 III i 1 t i i i r 1 i 1 f 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS STREET AND BRIDGE FUND SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.) FOR THE YEAR ENDED APRIL 30, 1989 Budget Highways and Streets (Cont.) Public Works (Cont.) Tree Planting Salaries $ 7,650 Overtime 420 Employee Benefits 2,520 Contractual 4,200 Motor Vehicle Maintenance 500 Repairs and Maintenance 300 Motor Vehicle Supplies 400 Materials 500 16,490 Railroad Station Maintenance Salaries 14,030 Overtime 950 Part -Time 3,780 Employee Benefits 720 Contractual Services 8,300 Repairs and Maintenance Supplies 2,400 Aggregates _ 1,500 Materials 500 7,900 40,080 Total Expenditures $823,520 Actual $ 5,950 102 454 5,980 63 70 51 236 12,906 12,862 671 3,870 1,892 2,291 500 854 386 4,635 27,961 $765,929 • • 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, 1989 j 1989 Budget Actual Revenues Taxes Property Taxes $390,000 $335,923 Replacement Taxes 8,000 8,416 Miscellaneous Interest earnings 14,000 13,425 Other Total Revenues 412,000 357,764 Expenditures . Miscellaneous Illinois Municipal Retirement Payment's - Employer 395,000 418,510 Excess (Deficiency) of Revenues over Expenditures $ 17 000 (60 746) Fund Balance May 1 (14,703) April 30 $(75,,449) I, See accompanying Notes to the Financial Statements. 1988 Actual $333,410 6,995 12,795 404 353,604 348,698 4,906 (19,609) $(14,703) 1 1 1 r i i r F 1 1 1 1 1 t 1 VILLAGE OF DEERF IELD , ILLINOIS PUBLIC BENEFIT FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL FOR THE YEAR ENDED APRIL 30, 1989 1989 1988 Budget Actual Actual Revenues Miscellaneous Interest Other Total Revenues Expenditures General Government Contractual. Excess (Deficiency) of Revenues over Expenditures Fund Balance May 1 April 30 See accompanying Notes to the Financial Statements. $63,273 $63,273 $63,273 $63,273 .: VILLAGE OF DEERFIELD, ILLINOIS i MOTOR FUEL TAX FUND STATEMENT OF REVENUES, EXPENDITURES, $293,696 AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL FOR THE YEAR ENDED APRIL 30, 1989 i j 1989 Budget Actual i Revenues Intergovernmental Allotments Earned $305,000 $303,551 Miscellaneous Interest. 25,000 35,084 Other Total Revenues 330,000 338,635 Expenditures' Highways and Streets Street Maintenance 180,000 180,000 Street Resurfacing and Renovation Program 59,000 76,578 Total Expenditures 239,000 256,578 Excess of Revenues over Expenditures 91,000 82,057 Operating Transfer. In General Fund Excess of Revenues and Other Sources over Expenditures $ 91,000 88,270 Fund Balance May 1 401,850 April 30 $490,120 See accompanying Notes to the Financial Statements. i 69 i 1988 Actual $293,696 ! I 24,063 i 5,275 323,034 j 180,000 48,982 228,982 94,052 307,798 $401,850 1 1 1 1 1 1 1 1 1 1 1 1 1 i 1 1 1 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS TRANSPORTATION FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL FOR THE YEAR ENDED APRIL 30, 1989 Revenues Intergovernmental Grant Expenditures Miscellaneous Transportation Excess (Deficiency) of Revenues over Expenditures Other Financing Sources Operating Transfers In General Fund Excess (Deficiency) of Revenues-and Other Financing Sources over Expenditures Fund Balance May 1 April 30 1989 Budget Actual $ 4,500 $ 3,670 6,500 6,239 (2,000) (2,569) See accompanying Notes to the Financial Statements. 2,000 2,000 (569) 7,000 $ 6,431 1988 Actual $5,022 5,117 (95) 2,000 1,905 5,095 $7,000 1 1 i i i 1 1 i 1 i 1 DEBT SERVICE FUND 1 Fund Description Debt Service Fund Debt Service Fund - To account for the accumulation of resources for the payment of General Long -Term Debt. 1 I I I i 1 i 1 1 VILLAGE OF DEERFIELD, ILLINOIS DEBT SERVICE FUND BALANCE SHEET APRIL 30, 1989 ASSETS Cash and Investments Receivables Property Taxes Accrued Interest Due from Other Funds Total Assets LIABILITIES AND FUND BALANCE Liabilities Interest Payable 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. i 1989 $1,182,676 i 1,314,290 22,713 5,371 $2,525,050 i $ 20,000 1 ,431,063 1,451,063 1 ,0731,987 $2,525,,050 I i 71 1988 $1,330,470 968,191 13,387 11,515 $2,323,563 I $ 24,899 2,234 1,096,826 1,123,959 1,199,604 $2,323,563 1 1 1 1 1 1 1 1 1 1 i 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, 1989 Revenues Taxes Property Taxes Replacement Taxes Miscellaneous. Interest. Other Total Revenues 1989 Budget . Actual $1,300,950 40,000 100,000 Expenditures Debt Service Principal Retirement Interest Fiscal Charges Other Total Expenditures 1,440,638 Excess (Deficiency) of Revenues over Expenditures 312 Other Financing Sources Operating Transfers In Tax Incremental Finance Dist -rict 1 Fund 84,280 Excess (Deficiency) of Revenues and Other Financing Sources over Expenditures $ 84,592 Fund Balance May 1 April 30 See accompanying Notes to the Financial Statements. $1,110,004 58,573 90,489 600,000 866,226 2,737 1,468,963 (209,897) 72 1988 Actual $1,148,224 48,682 127,932 1,391 1,326,229 525,000 900,924 1,000 3,065 1,429,989 (103,760) 84,280 222,400 (125,617) 1,199,604 ci n7z QQ7 118,640 1,080,964 $1,199,604 i 73 VILLAGE OF DEERFIELD, ILLINOIS DEBT SERVICE FUND SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL FOR THE YEAR ENDED APRIL 30, 1989 Budget Actual Debt Service Sewerage Improvement Bond Series of 1973 Principal { $ 75,000 Interest' 14,337 Sewerage Treatment Facility Bond Series of 1973 Principal 125,000 Interest, 30,562 Corporate Purpose Bond Series of 1983 Principal 1 125,000 I Interest 9,000 Corporate Purpose Bond Series 1982 Principal ° j 50,000 Interest 38,400 Corporate Purpose Bond Series 1982 -A Principal 50,000 Interest, 24,750 Corporate Purpose Bond Series of 1986 Principal 175,000 Interest 7493177 Fiscal Charges 2,737 Total Expenditures $1,440,638 $1,468,963 i i i 1 1 i 1 1 1 1 i 1 i 1 1 1 1 1 CAPITAL PROJECT FUNDS 1 Fund Descriptions Land Acquisition Fund. Established in 1974 to acquire land in the area now known as The Brickyards. The. funds remaining are held against the potential need of reimbursing the Illinois Department of Transportation in the event a retention pond is not constructed. 1 Capital Projects Fund Established in 1983 to provide funds for the study and review of the Village of. Deerfield Storm and Sanitary Sewer System. ' Tax Incremental Finance District l 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 rovide funds for land acquisition and im rovements to the P q P Village of Deerfield Tax Increment Financing District. Capital Improvements Series A Fund Established in December, 1984, to provide funds for Storm Sewer Improvements, Sanitary Improvements and a Street Rehabilitation Program. Capital Improvements Series B Fund ' Established in December, 1985, to provide funds for major renovation to the Storm and Sanitary Sewers 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 Kates Road. Vehicle Replacement Fund Established to account for the funds annually set aside for the eventual replacement of certain vehicles. i r 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 Fund Descriptions (Cont.) Capital Improvements Series 1987 Fund Established in December, 1987 to provide funds for the maintenance and repairs of the Village's streets. 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 sewer and street rehabilitation; the installment of a new 16 inch water main, and storm drainage improvements. ti Q C,4 00 N n n o �N Nor Lo .4 M A 00 O^ cn yr ur rn t 8 .� s a ,I �M� 00 � �p n Ln C � '^ t N m Cni LA -� •� M n 00 U) l �O C14 N C14 Lf) I i pp Qp pp O�MO N 1 o�yy 00 00 ON pp a0 C,4 O I �t p rf1 � O0 8MM , I C") o of I �? N Lri 1 Lr1 i V) cn I v co i I i p 4 u L A W In U ,v.' ,ja s c�0 o v o � .Q u ! I •I I i N Ln Lo u .p 1.4 N aM 00 O^ cn NN N twn s a ,I �M� 00 � �p n Ln C � '^ t N m Cni LA -� •� M n 00 U) l �O C14 N C14 Lf) I i pp Qp pp O�MO N 1 o�yy 00 00 ON pp a0 C,4 O I �t p rf1 � O0 8MM , I C") o of I �? N Lri 1 Lr1 i V) cn I v co i I i p 4 u L A W In U ,v.' ,ja s c�0 o v o � .Q u ! 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N > a L u 0 > w m L v v 7 v w v u N a c o c a W c o N 0) N v O W (1) W u W W O 7 O V y N w O O a) Of V) LJ o a) b TN Q) 3 U) a T0) j n " O O C C u W Oww O V) m w z k T C a) C 7 rJ W C C a7 U u Q w •O u > F v 7 D' " of oo y G W C a! C •.r d C OO (D X O a - ., ,N, X ..r ..� G W W •- W r ..r Q u ca .b �--i c T CO Ql u u u y W m 7 V 0 u v •.+ C •.r H H .-r u O C cn O ca ..r T a) 0 7 U .a w y u .D O C 00 w o u .I Co w 00 C N ..r pa u W C W V ca W W c0 .-roi a U W W V a) G) O L W V u Co w a) 0 Q X W C• • r L •.r a.i L ca C O• a w a) ar a) O CL Q) w 0 •� a) u t F. •.r u C L H w a1 n7 W W u .. u .-r ti'' m O 7 W W N U C L •b •.c Q a� N W W W a) W E y 0) al CD .a •W u C X 0. U) y H O m C 0. U o m N W a) C y C L T•, •� u Q) >E" d ro av v> v a a v o a ., C W ca C % u O .Coo ua. uwo Q ¢ cY W X W u O W w d N N 75 1 1 1 1 1 1 I fl 1 1 1 1 1 1 1 1 11 ENTERPRISE FUNDS I Fund Descriptions tWater Fund Water Fund - To account for all activity necessary to provide water to the residents of the Village of Deerfield including administration, operation, maintenance, financing and related Debt Service. ' Commuter Parking Lot Fund Commuter Parking Lot Fund - To account for all activity necessary to construct, operate, and maintain the commuter parking facilities within the Village. 1 1 L 1 1 1 Sewerage Fund 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 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 Commuter Parking Lot Fund - To account for all activity necessary to construct, operate, and maintain the commuter parking facilities within the Village. 1 1 L 1 1 1 ASSETS Current Assets Cash and Investments Receivables Property Takes Accrued Interest Accounts Other Due from Other Funds Inventories Investment in Joint Venture - HELP Restricted Assets Cash and Investments Fixed Assets (Net of Accumulated Depreciation) Total Assets LIABILITIES AND FUND EQUITY Current Liabilities Accounts Payable Accrued Payroll Compensated Absences Payable Other Payables Due to Other Funds Long -Term Liabilities Revenue Bonds,Payable Total Liabilities Fund Equity Contributed Capital Retained Earnings Reserved - Restricted Accounts Unreserved Total Retained Earnings Total Fund, Equity Total Liabilities and Fund Equity VILLAGE OF DEERFIELD, ILLINOIS ENTERPRISE FUNDS 1 1 COMBINING BALANCE SHEET APRIL 30, 1989 1 i Commuter Parking Water Sewerage Refuse Lot 76 1 ' I I 500,538 _ I r 3,824 Totals 1989 1988 $1,226,591 $1,171,046 $ 16,044 $257,518 $ 2,671,199 $ 2,114,665 88,708 - - - 88,708 88,708 i 2,299,201. 6,689,911 - 386,660 9,375,772 9,708,152 $4,090,908 $8,161,871 $641,860 $644,178 $13,538,817 $13,188,553 $ 97,953 $ 75,685 500,538 500,538 420,303 3,824 9,774 8,079 13,598 13,496 405,963 250,191 119,816 775,970 714,333 19,653 16,839 2,982 39,474 74,771 656 2,480 2,480 4,173 39,907 6,728 ; 46,635 40,278 7,061 17,382 i 24,443 9,674 1,702,999 1,471,960 641,860 257,518 4,074,337 3,391,693 88,708 - - - 88,708 88,708 i 2,299,201. 6,689,911 - 386,660 9,375,772 9,708,152 $4,090,908 $8,161,871 $641,860 $644,178 $13,538,817 $13,188,553 $ 97,953 $ 75,685 $ 94,265 $ 587 $ 268,490 $ 237,628 3,638 8,079 11,717 7,774 14,295 41,208 55,503 33,022 656 656 24,404 5,445 5,445 4,047 115,886 130,417 94,265 1,243 341,811 306,875 - - - - - 45,000 115,886 130,417 94,265 1,243 341,811 351,875 I 1,913,458 6,260,411 - 352,213 8,526,082 8,720,455 88,708 i i 88,708 88,708 1,972,856 1,771,043 547,595 290,722 4,582,216 4,027,515 2,061,564 1,771,043 547,595 290,722 4,670,924 4,116,223 3,975,022 8,031,454 547,595 642,935 13,197,006 12,836,678 $4,090,908 $8,161,871 $641,860 $644,178 $13,538,817 S13,188,553 See accompanying Notes to the Financial Statements. I I I 1 Ll 1 1 1 1 C 1 1 1 f' 1 I 1 l i 1 1 1 1 1 i 1 1 1 1 1 1 1 1 1 VU AGE OF DEERFIELD, ILLINOIS ENTERPRISE FUNDS COMBINING STATEMENT OF GWMS IN CONTRIBUTED CAPITAL FOR TH YFAR ENDED APRIL 30; 1989 Increases Contributions fran Other Funds Decreases Depreciation that Reduces Contributed Capital ltt Increase (Decrease) Account Balances May 1 April 30 Cuter Parkirg Water Sewerage Refuse Lot Totals $ 48,389 $ 118,957 - $ 27,027 $ 194,373 $1,913,458 $6,260,411 (48,389) (118,957) - (27,027) (194,373) 1,961,847 6,379,368 - 379,240 8,720,455 $1,913,458 $6,260,411 - $352,213 $8,526,082 See accompanyirg Notes to the Financial Statements. 77 VILLAGE OF DEERFIELD, ILLINOIS ENTERPRISE FUNDS COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS - UNRESERVED FOR THE YEAR ENDED APRIL 30, 1989 Operating Revenues Charges for Services Water Sales Sewer Charges Refuse Billings Parking Lot Fees Surcharges, Miscellaneous Total Operating Revenues Operating Expenses Excluding Depreciation Administration Operations Total Operating Expenses Excluding Depreciation Operating Income (Loss) before Depreciation Depreciation Operating Income (Loss) Nonoperating Revenues (Expenses) Interest Income Property Taxers Interest Expense Net Income (Loss) before Operating Transfers Operating Transfers (Out) Net Income (Loss) Other Changes in Retained Earnings - Unreserved i Depreciation,that Reduces Contributed Capital Net Increase in Retained Earnings - Unreserved Retained Earnings - Unreserved May 1 April 30 Water Sewerage Refuse i i Commuter Parking Lot I i 78 Totals 1989 1988 $2,239,905 118,957 - 27;027 i I 194,373 $2,239,905 $1,942,4371 $1,047,364 89,042 45,793 43;753 1,047,364 934,476 1,596,743 1,682,001 $ 526,758 4,027,515 526,758 453,555( $117;207 117,207 91,181 88,885 88,885 101,376 79,385 57,003 136,388 76,620 1 2,319,290 1,193,252 526,758 117;207 4,156,507 3,599,645 j 154,316 191,986 15,171 i 361,473 1 316,636 1,772,594 825,499 1,055,989 39;783 3,693,865 3,423,295 1,926,910 1,017,485 1,071,160 i 39;783 4,055,338 3,739,931 I 392,380 175,767 (544,402) 77;424 101,169 (140,286)1 104,219 243,714 - 30,698 378,631 386,448 288,161 (67,947) (544,402) 46;726 (277,462) (526,734) I 71,476 69,032 49,177 189,685 135,047 541,018 541,018 485,998 (1,913) (1,913) (3,825)1 69,563 69,032 590,195 - 728,790 617,220 357,724 1,085 45,793 46,726 451,328 90,486` (30,000) (31,000) - (309000) 01,000) _(20,000)( 327,724 (29,915) 45,793 16;726 360,328 70,486 48,389 118,957 - 27;027 i I 194,373 301,500 376,113 89,042 45,793 43;753 554,701 371,986 1,596,743 1,682,001 i 501,802 2461,969 4,027,515 3,655,529 $1,972,856 $1,771,043 $ 547,595 $290;722 $4,582,216 S4,027,515 I i i I See accompanying Notes to the Financial Statements. i 1 1 1 1 1 1 1 1 1 1 1 1 1 i 1 1 i 1 1 C4 H O z a a A a W I-a W W A 44 O w c� a a h-1 z O H H N rn O a a c Z: 1-4� w< z �I W • zI F-+ I I W fs+ H OI z w Hi I HE Qi HI cn c U z H z 0 U 00 00 O*. ,1 y R1 u O H 00 ON ID co t 00 r- oN 00 �lt M -t .t N M m �o Ln O 1D ID ' N 00 u) -14 0 t` Mgt Out I- �t .t '� . N N N u1 00 .-i ON M N N M u1 O %.D M m �o Ln O 00 00 00 t\ %D n M M t` M M 1- I- N �On0IOI -t ^+ Ln c) N Cl) r+N�D00 u1 %D �.D M U') -4 � C9 N ul 1.4 N lr1 Ln 4 %D u1 �D 00 � N ul rn �D O� N N t` M NNNO1- .1 ul 00 ^ I- O 'D Q) C - N u1 Iz �7 M 00 M -.4 4 M N �On0IOI -t ^+ Ln c) N Cl) r+N�D00 u1 %D �.D M U') -4 � C9 N ul 1.4 N lr1 Ln 4 %D u1 �D 00 � N ul rn �D O� N N O1 C LW v x. Q) 00 co �4 Q) 3 N O N u co 3 O7 Im It Icn n n Ln M t` M trn•-+ .1 .--I -4 a% Q) C N O� N N �7 M 00 M � 1j •�q %D �t .t '� . N N N u1 INM000 m O •� Ln C .4 -* ID s N co mv�+a to. 'i M a rn to u w C N a .. 4J C C •,-I rn v N U a} �+ 0 N 04 O co C tr} O1 C LW v x. Q) 00 co �4 Q) 3 N O N u co 3 O7 Im It Icn n n Ln M 71. t` M trn•-+ N O -4 a% %D O� I, n O 00 N O M M N fir-, N M Ou1�DOr+ •,a N 71. N t` M y N M t` N al a n t -1 1-4 N O M M M -4 't -1 N N Ln t` M y N M v •4 00 00 •,a r r lc a� O% M Ou1�DOr+ •,a N N O\ r+ INM000 m O •� Ln C .4 -* ID �D N co mv�+a to. k a rn to u w C .. 4J C C •,-I rn v H �+ 0 N 04 O co C F+ v 0 -4 U b u v z � C C O v u -4 O P14 O u v C� � fit' r� a —I CO L C c v ro uaAa°� ~ 3 a�ib ca W-4 vp, z 6 w �' u a R1 U z U N y O U U N Ln t` M O N N M •4 00 00 u, r r lc m O% M N Ln t` M O N N M •4 00 to 1� N N Ln I� •4 Ou1�DOr+ N I N N O O\ ui INM000 O r- M u1 Ln �D .4 -* ID �D M r O C Ln w CO) �D M O O\ I� rn -i M ON V, u1 O \.D 1.0 N 00 N a U) v •4 •4 r-, .. mv�+a to. to u v C C •,-I u v H �+ 0 N 04 A +�+ �UGz,U G G O a) y to v M Cd 3 w U w •r C c • 4 uaAa°� ~ ca a y 1 w �' <4 R1 U z U 79 C v 1J ca u W co •,4 u C ca C • rd W Ul L O W v O z b0 C .,4 C v a O u u ro v N W' VILLAGE OF DEERFIELD, ILLINOIS WATER FUND BALANCE SHEET APRIL 30, 1989 ASSETS Current Assets Cash and Investments Receivables Accrued Interest Accounts- Billed - Unbilled Other Inventories Investment in Joint Venture - HELP Restricted Assets Cash and Investments Fixed Assets Cost Accumulated Depreciation Total Assets LIABILITIES AND FUND EQUITY Current Liabilities Accounts Payable Compensated'Absences Payable Other Payables Due to Other Funds Long -Term Liabilities Revenue Bonds Payable Total Liabilities i Fund Equity Contributed Capital Retained Earnings Reserved = Restricted Accounts Unreserved Total Retained Earnings i Total Fund Equity Total Liabilities and Fund Equity See accompanying Notes to the Financial Statements. �I 1989 i $1,226;591 3;824 119;722 286;241 19;653 39;907 7;061 1,702;999 I 88;708 i 3,159;154 (859;953) 2,299;201 $4,090;908 I $ 97,953 14,;295 3;638 115;886 115;886 1,913,458 88,'708 1,972,'856 2 ,061 ,564 3,975,022 $4,090,'908 1988 $ 860,539 4,289 131,897 260,540 43,604 33,153 2,786 1,336,808 88,708 3,141,929 (755,735) 2,386,194 $3,811,710 $ 110,107 5,992 2,867 446 119,412 45,000 164,412 1,961,847 88,708 1,596;743 1,685,451 3,647,298 93.811.710 �i 80 i 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 81 VILLAGE OF DEERFIELD, ILLINOIS WATER FUND STATEMENT OF CHANGES IN RETAINED EARNINGS - RESERVED - RESTRICTED ACCOUNTS FOR THE YEAR ENDED APRIL 30, 1989 Principal and Bo nd Interest Depreciation Reserve Totals Increases - - - Decreases - - - - Net Increase (Decrease) - - - - Account Balances May 1 $21,708 $15,000 $52,000 $88,708 April 30 $21,708 $15,000 $52,000 $88,708 See accompanying Notes to the Financial Statements. VILLAGE OF DEERFIELD, ILLINOIS WATER FUND STATEMENT OF REVENUES, EXPENSES, AND'CHANGES IN RETAINED EARNINGS - UNRESERVED - B FOR THE YEAR ENDED APRIL 30, 1989 Operating Revenues Charges for Services Water Sales Miscellaneous Permits and Fees Penalties Other Total Operating Revenues Operating Expenses Excluding Depreciation Administration Operations Distribution Maintenance - Mains and Fire Hydrants Maintenance - Meters Total Operating Expenses Excluding Depreciation Operating Income before Depreciation Depreciation Operating Income Nonoperating Revenues (Expenses) Interest Income Interest Expense - Revenue Bonds Net Income before Operating Transfers T AND ACTUAL 1989 Budget Actual $1,825,000 $2,239,905 20,000 156,713 25,000 !22,672 1,870,000 2,3119,290 141,640 154,316 1,417,130 169,000 62,480 1,790,250 79,750 79,750 50,000 (2,000) 48,000 127,750 Operating Transfers (Out) Replacement Fund (30,000) Net Income $ 97,750 Other Changes in Retained Earnings - Unreserved Depreciation that Reduces Contributed Capital Net Increase in Retained Earnings - Unreserved Retained Earnings - Unreserved May 1 April 30 See accompanying Notes to the Financial Statements. 1,540,757 162,391 69,446 1,926,910 I 392,380 164,219 288,161 71,476 (!1,913) 6,9 563 357,724 (3;0,000) 32'11,724 48,389 376,113 1,596,743 $1,972,856 821 1988 Actual $1,942,437 16,169 22,154 3,328 1,984,088 121,993 1,419,254 160,341 52,319 1,753,907 230,181 106,240 123,941 41,002 (3,825) 37,177 161,118 161,118 50,500 211,618 1,385,125 $1,596,743 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 VILLAGE OF DEERF IELD , ILLINOIS SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL FOR THE YEAR ENDED APRIL 30. 1989 Administration Salaries Employee Benefits Professional Services Travel, Training and Dues Printing and Advertising Communications Contractual Services Insurance Motor Vehicle Maintenance Miscellaneous Supplies Motor Vehicle Supplies Occupancy Apparel Bond Principal Repairs and Maintenance Total Less Nonoperating Items Bond Principal Total Administration Operations Distribution Salaries Overtime Employee Benefits Professional Services Printing and Advertising Contractual Services Utility Services Motor Vehicle Maintenance Repairs and Maintenance Miscellaneous Purchase of Water Supplies Budget 59,370 9,520 3,700 300 700 9,850 1,000 36,900 1,200 300 500 700 15,000 1,800 45,000 186,640 83 Actual 82,684 7,698 350 1,050 522 9,087 90 30,888 530 1,562 1,364 1,440 15,000 2,051 45,000 199,316 45,000 45,000 141,640 154,316 48,460 42,067 6,300 13,436 6,020 5;614 1,500 1,440 1,100 1,116 8,100 3,315 85,500 71,128 2,150 2,979 3,000 1,064 1,300 604 1,250,000 1,395,230. 500 513 84 VILLAGE OF DEERFIELD, ILLINOIS WATER FUND SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL!(CONT.) FOR THE YEAR ENDED APRIL 30, 1989 Budget Actual Operations (Cont.) Distribution (Cont.) Motor Vehicle Supplies $ 1,000 $ 247 Chlorine 1,000 375 Materials 11,200 1,629 Total Distribution 1,417,130 1,540,757 i Maintenance - Main and Fire Hydrants Salaries 52,510 44,191 Overtime 12,100 17,225 Part -Time 19,320 14,054 Employee ,Benefits 5,620 6,647 Contractual Services 33,900 22,185 Motor Vehicle Maintenance 3,950 8,978 Repairs and Maintenance 10,500 8,084 Equipment Rental '1,000 100 Miscellaneous 400 (30) Motor Vehicle Supplies 1,900 714 Small Tools and Equipment 300 305 Aggregates '6,000 6,522 Materials 21,500 33,416 Equipment', , 5,080 4,758 Improvements - Not Buildings 180,000 i Total 354,080 167,149 Less Nonoperating Items Fixed Assets Capitalized 185,080 4,758 Total Maintenance - Main and Fire Hydrants 169,000 162,391 1 1 1 1 1' 1 1 A 1 J A 1 1 I 85 VILLAGE OF DEE RF IELD , ILLINOIS WATER FUND SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL (CONT.) FOR THE YEAR ENDED APRIL 30, 1989 Operations (Cont.) Maintenance - Meters Salaries Overtime Part -Time Employee Benefits Professional Services Travel, Training and Dues Printing and Advertising Contractual Services Motor Vehicle Maintenance Repairs and Maintenance Miscellaneous Supplies Motor Vehicle Supplies Materials Small Tools and Equipment Equipment Total Less Nonoperating Items Fixed Assets Capitalized Total Maintenance - Meters Total Expenses Budget Actual $ 38,810 $ 42,177 840 341 950 889 6,330 4,858 3,000 300 1,000 88 2,200 689 2,700 2,019 1,400 18 300 38 350 30 1,000 1,973 3,000 1,806 300 139 16,500 26,848 78,980 81,913 16,500 12,467 62,480 69,446 $1,790,250 $1,926,910 i I i VILLAGE OF DEERFIELD, ILLINOIS WATER FUND SCHEDULE OF FIXED ASSETS AND DEPRECIATION, FOR THE YEAR ENDED APRIL 30, 1989 i Assets Balances Balances May 1 Additions Deletions April 30 Water System $2,808,048 $ 17,225 $2,825,273 Equipment and Automotive 333,881 333,881 $3,141,929 $ 17,225 $3,159,154 �I Accumulated Depreciation Balances Balances May 1 Provisions Deletions April 30 Water System Equipment and Automotive Net Asset Value $ 554,749 $ 71,924 200,986 32,294 $ 755,735 $104,218 I i i i it I $ 626,673 233,280 C ASO OS'i A,) ')oo Ini M A 1 1 1 1 1 1 l L -1 A 1 M 1 1 1 1 1 1 ,1 1 1 4 1 VILLAGE OF DEERFIELD, ILLINOIS SEWERAGE FUND BALANCE SHEET APRIL 30, 1989 ASSETS Current Assets Cash and Investments Receivables Accrued Interest Accounts - Billed - Unbilled 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 Other Payables Due to Other Funds Total Liabilities Fund Equity Contributed Capital Retained Earnings - Unreserved Total Fund Equity Total Liabilities and Fund Equity See accompanying Notes to the Financial Statements. 1989 1988 $ 1,171,046 $ 991,313 9,774 5,221 73,927 57,908 176,264 168,873 16,839 26,797 6,728 7,125 17,382 6,888 1,471,960 1,264,125 8,589,455 8,560,430 (1,899,544) (1,655,830) 6,689,911 6,904,600 $ 8,161,871 $ 8,168,725 $ 75,685 $ 47,953 83079 7,774 41,208 27,030 20,998 5,445 3,601 130,417 107,356 6,260,411 6,379,368 1,771,043 1,682,001 8,031,454 8,061,369 $ 8,161,871 $ 8,168,725 87 I� 1 88 VILLAGE OF DEERF IELD , ILLINOIS SEWERAGE FUND STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS - UNRESERVED - BUDGET AND ACTUAL FOR THE YEAR ENDED APRIL 30, 1989 i 1989 Operating Revenues Charges for Services Sewer Charges Surcharges - Construction Surcharges - Sara Lee Miscellaneous Permits and Fees Penalties Other Total Operating Revenues Operating Expenses Excluding Depreciation Administration Operations Treatment. Plant Cleaning and Maintenance Construction Total Operating Expenses Excluding Depreciation Operating Income (Loss) before Depreciation Depreciation Operating Income (Loss) Nonoperating Revenues Interest Income Net Income (Loss) before Operating Transfers { Operating Transfers (Out) Replacement' I Fund Net Income (Loss) Budget Actual $ 980,000 i $1,047,364 50,000 46,964 191,986 41,921 20,000 45,260 10,000 10,606 Other Changes,in Retained Earnings - Unreserved Depreciation that Reduces Contributed Capital Net Increase in Retained Earnings - Unreserved Retained Earnings - Unreserved May 1 April 30 1,000 1,137 1,061,000 1;193,252 187,660 191,986 780,080 120,440 141,030 1,229,210 (168,210) 68,500 (236,710) 55,000 (181,710) (31,000) S (212.710) See accompanying Notes to the Financial Statements. 629, 1.58 98,674 97,667 1;017,485 175,767 243,714 ,(67,947) 69,032 1,085 1 ;(31,000) ;(29,915) i 118,957 89,042 1 682,001 $1,771,043 i 1988 Actual I I' $ 934,476 45,325 56,051 18,610 8,932 7,427. 1,070,821 167,030 613,027 84,760 140,760 1,005,577 65,244 249 , 510 (184,266) 56,281 (127,985) (127,985) r ,y 1 1 i I 1 7 224,000 96,015 r 1,585,986 $1,682,001 i 89 VILLAGE OF DEERFIELD, ILLINOIS SEWERAGE FUND r SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL FOR THE YEAR ENDED APRIL 30, 1989 I Administration Budget Actual Salaries $ 59,370 $ 69,434 Overtime. 530 8 �j Employee Benefits 10,030 7,698 Professional Services 23200 605 Travel, Training and Dues Printing and Advertising 200 100 492 64 Communications 3,030 3,550 Insurance 90,300 80,994 Motor Vehicle Maintenance 900 2,029 Repairs and Maintenance 1,300 33 Miscellaneous 700 519 Supplies 600 900 Motor - )Vehicle Supplies 700 8,858 Occupancy 15,000 15,000 �. Apparel 1,500 1,112 ' Contractual Services 1,200 690 Total Administration 187,660 191,986 Operations - Treatment Plant _ Salaries 261,400 234,932 Overtime 7,880 9,972 Part -Time Employee Benefits 4,300 36,300 3,261 34,950 Professional Services 21,000 Travel, Training and Dues .900 2,162 Printing and Advertising 1,000 55 Communications 5,400 9,350 Contractual Services 34,500 1,382 Utility Services 205,300 164,575 Motor Vehicle Maintenance 3,000 2,144 Repairs and Maintenance 163,500 124,294 Equipment Rental 1,000 1,200 Supplies 8,600 10,732 Motor Vehicle Supplies 7,000 4,307 Chlorine 7,000 7,250 Aggregates 2,500 3,025 Materials 4,000 4,693 Street Signs 300 f 89 i VILLAGE OF DEERFIELD, ILLINOIS SEWERAGE FUND i SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL FOR THE YEAR ENDED APRIL 30, 1989 i i Budget Operations (Cont.) Treatment Plant (Cont.) Small Tools and Equipment $ 500 Apparel 1,700 Miscellaneous 3,000 Equipment 16,800 Total 796,880 Less Nonoperating Items Fixed Assets Capitalized 16,800 Total Treatment Plant 780,080 Cleaning and Maintenance Salaries 51,050 Overtime 4,620 Part -Time 2,520 Employee ,Benefits 8,650 Contractual Services 10,000 Motor Vehicle Maintenance 4,000 Repairs and Maintenance 5,000 Equipment Rental 3,000 Miscellaneous 2,000 Supplies 20,100 Motor Vehicle Supplies 1,500 Aggregate's 1,000 Materials 7,000 Equipment' 12;700 Small Tools and Equipment 300 Total 133,440 Less No'noperating Items Fixed Assets Capitalized 13,000 Total Cleaning and Maintenance 120,440 I, I Actual $ 490 956 5,212 25,247 650,189 21,031 629,158 49,420 2,396 2,443 6,034 2,498 4,191 4,246 240 13,209 462 6,127 5,563 9,494 345 106,668 7,994 98,674 90 I I 1 r r r i r t 1 1 VILLAGE OF DEERFIELD, ILLINOIS SEWERAGE FUND SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL (CONT.) FOR THE YEAR ENDED APRIL 30, 1989 Operations (Cont.) Construction Salaries Overtime Part -Time Employee Benefits Contractual Services Motor Vehicle Maintenance Repairs and Maintenance Equipment Rental Supplies Motor Vehicle Supplies Aggregates Materials Small Tools and Equipment Total Construction Total Expenses Budget Actual $ 83,100 $ 64,669 2,200 257 1,260 1,256 12,270 8,280 5,000 5,500 5,254 7,500 3,397 1,000 2,000 297 2,000 1,938 5,000 3,334 14,000 8,784 141,030 97,667 ct 99Q Stn ct nt7 /.QS 91 VILLAGE OF DEERF IELD , ILLINOIS SEWERAGE FUND SCHEDULE OF FIXED ASSETS AND DEPRECIATION FOR THE YEAR ENDED APRIL 30, 1989 Assets Balances Balances May 1 Additions Deletions April 30 Sewer System and Plant $8,343,360 $8,343,360 Equipment and Automotive 217,070 $ 29,025 246,095 $8,560,430 $ 29,025 - $8,589,455 Balances May 1 Sewer System and Plant $1,492,899 Equipment and Automotive 162,931 $1,655,830 Net Asset Value Accumulated Depreciation Balances Provisions Deletions April 30 $216,330 $1,709,229 27,384 190,315 $243,714 - $1,899,544 AA ARO oil 92 1 1 f 1 i 1 r r 1 1 1 t 1 M VILLAGE OF ^DEERF IELD , ILLINOIS BALANCE SHEET APRIL 30, 1989 ASSETS Current Assets Cash and Investments Receivables Property Taxes Accrued Interest Accounts - Billed - Unbilled Other Due from Other Funds Total Assets LIABILITIES AND FUND EQUITY Current Liabilities Account Payable Total Liabilities Fund Equity Retained Earnings - Unreserved Total Liabilities and Fund Equity See accompanying Notes to the Financial Statements. 1989 1988 $ 16,044 $ 52,578 500$38 420,303 3,986 28,337 17,855 91,479 77,260 2,982 4,370 2,480 4,173 $641,860 $580,525 $ 94,265 $ 78,723 94,265 78,723 547,595 501,802 $641,860 $580,525 93 94 VILLAGE OF DEERFIELD, ILLINOIS STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS - UNRESERVED - BUDGET AND ACTUAL FOR THE YEAR ENDED APRIL 30, 1989 Operating Revenues Charges for Services Refuse Billing Operating Expenses Administration Operations Contractual Services Total Operating Expenses Operating Income (Loss) Nonoperating Revenues (Expenses) Interest Income Property Taxes Net Income (Loss) Retained Earnings - Unreserved May 1 April 30 1989 1988 Budget Actual Actual $ 477,000 $ 526,758 $ 453,555 18,000 15,171 27,613 1,000,000 1,055,989 929,652 1,018,000 1,071,160 957,265 (541,000) (544,402) (503,710) 11,000 49,177 37,764 475,000 541,018 485,998 486,000 590,195 523,762 $ (55,000) 45,793 20,052 r See accompanying Notes to the Financial Statements. 501,802 $ 547,595 481,750 $ 501,802 1 1 1 1 1 i 1 VILLAGE OF DEERFIELD, ILLINOIS COMMUTER PARKING LOT FUND BALANCE SHEET APRIL 30, 1989 ASSETS Current Assets Cash and Investments Fixed Assets Cost Accumulated Depreciation Total Assets LIABILITIES AND FUND EQUITY Current Liabilities Accounts Payable Other Payables Total Liabilities Fund Equity Contributed Capital Retained Earnings - Unreserved Total Fund Equity Total Liabilities and Fund Equity See accompanying Notes to the Financial Statements. 1989 1988 $ 257,518 $ 210,235 691,458 691,458 (304,798) (274,100) 386,660 417,358 $ 644,178 $ 627,593 $ 587 $ 845 656 539 1,243 1 , 384 352,213 379,240 290,722 246,969 642,935 626,209 $ 644,178 $ 627,593 W, VILLAGE OF DEERF IELD , ILLINOIS COMMUTER PARKING LOT FUND STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS - UNRESERVED - BUDGET AND ACTUAL FOR THE YEAR ENDED APRIL 30, 1989 Operating Revenues Parking Lot Fees Operating Expenses Excluding Depreciation Operations Operating Income before Depreciation Depreciation Operating Income before Operating Transfers Operating Transfers (Out) Street and Bridge Fund Net Income Other Changes in Retained Earnings - Unreserved Depreciation that Reduces Contributed Capital Net Increase in Retained Earnings - Unreserved Retained Earnings - Unreserved May 1 April 30 1989 1988 Budget Actual Actual $ 91,000 $117,207 $ 91,181 31,050 39,783 23,182 59,950 77,424 - 30,698 67,999 30,698 59,950 46,726 37,301 (30,000) $ 29,950 See accompanying Notes to the Financial Statements. (30,000) 16,726 27,027 43,753 246,969 $290,722 (20,000) 17,301 27,000 44,301 202,668 $246,969 96 1 1 1 1 1 1 1 1 1 1 1 1 1 1 VILLAGE OF DEERF IELD , ILLINOIS COMMUTER PARKING LOT FUND SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL FOR THE YEAR ENDED APRIL 30, 1989 Parking Lots - Village Construction Salaries Budget Actual Operations 1,374 Parking Lots - Village and Federal Funds 180 455 Salaries $ 4,000 $ 4,926 Benefits 190 389 Insurance 40 377 Utility Services 2,300 2,358 Repairs and Maintenance 1,000 60 Supplies 500 3,092 Aggregates 500 Equipment 500 16,362 Property Rentals 7,500 14,880 Materials 800 431 Total 17,330 23,421 Less Nonoperating Items Fixed Assets Capitalized 500 - Total Parking Lots - Village and Federal Funds 16,830 23,421 Parking Lots - Village Construction Salaries 4,100 4,430 Overtime 1,374 Benefits 180 455 • Insurance 340 377 Utility Services 6,800 2,897 Repairs and Maintenance 1,000 2,779 Supplies 500 958 Aggregates 200 Materials 1,000 3,092 Equipment 100 Total Parking Lots - Village Construction 14,220 16,362 Total Operating Expenses $31,050 $39,783 97 L and Parking Lot Parking Lot Net Asset Value VILLAGE OF DEERF IELD , ILLINOIS COMMUTER PARKING LOT FUND SCHEDULE OF FIXED ASSETS AND DEPRECIATION FOR THE YEAR ENDED APRIL 30, 1989 natances May 1 $ 77,500 613,958 $691,458 Assets Additions Deletions Accumulated Depreciation Balances April 30 $ 77,500 613,958 $691,458 Balances Balances May 1 Provisions Deletions April 30 $274,100 $30,698 $304,798 $274,100 $30,698 — $304,798 $386,660 98 1 1 n fl 1 1 1 1 1 1 1 1 Ll 1 1 INTERNAL SERVICE FUND 1 i IFund Description Garage Fund Garage Fund - To account for all activity necessary to maintain the efficient and safe operation of Village vehicles and equipment. The Garage is operated and maintained by the Village of Deerfield and the various departments are billed according to the services rendered. 1 1 i 1 1 t 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS GARAGE FUND BALANCE SHEET APRIL 30, 1989 ASSETS Receivables - Accounts Due from Other Funds Inventories Total Assets LIABILITIES AND FUND EQUITY Liabilities Cash Overdrafts Accounts Payable Compensated Absences Payable Other Payables Total Liabilities Fund Equity Retained Earnings - Unreserved Total Liabilities and Fund Equity See accompanying Notes to the Financial Statements. 99 1989 1988 $ 334 $ 1,618 12,675 36,750 34,091 $ 37,084 $ 48,384 $ 67,658 $ 67,268 2,470 3,693 10,656 9,255 1,356 1,470 82,140 81,686 (45,056) (33,302) $ 37,084 $ 48,384 i 1 1 1 i 1 1 1 1 1 1 1 r f 1 1 1 1 100 VILLAGE OF DEERFIELD, ILLINOIS GARAGE FUND STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS - BUDGET AND ACTUAL FOR THE YEAR ENDED APRIL 30, 1989 Operating Revenues Charges for Services Billings Operating Expenses Operations Net Income (Loss) before Operating Transfers Operating Transfers (Out) Replacement Fund Net Income (Loss) Retained Earnings May 1 April 30 1989 Budget Actual $174,100 $154,680 1988 Actual $151,354 164,405 165,934 176,351 9,695 (11,254) (24,997) (500) (500) - $ 9,195 (11,754) (24,997) (33,302) (8,305) $(45,056) $(33,302) See accompanying Notes to the Financial Statements. VILLAGE OF DEERF IELD , ILLINOIS 101 STATEMENT OF CHANGES IN FINANCIAL POSITION FOR THE YEAR ENDED APRIL 30, 1989 Cash Was Provided By Decrease in Current Assets Increase in Current Liabilities Cash Was Used To Fund Operations Net Loss Increase Current Assets Net Increase (Decrease) Cash and Investments May 1 April 30 See accompanying Notes to the Financial Statements. 1989 1988 $ 11,300 64 $ 22 11,364 22 11,754 24,997 2,093 11,754 27,090 (390) (27,068) (67,268) (40,200) $(67,658) $(67,268) 1 1 1 1 1 1 1 i 1 1 1 1 102 VILLAGE OF DEERFIELD, ILLINOIS SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL FOR THE YEAR ENDED APRIL 3,0, 1989 Budget Actual Operations Public Works Department Salaries $ 69,990 $ 68,593 Overtime 5,570 7,991 Employee Benefits 10,030 9,403 Apparel 500 207 Travel, Training and Dues 500 345 Printing and Advertising 400 301 Insurance 6,800 6,019 Miscellaneous 200 97 Professional Services 50 Contractual Services 100 45 Utility Services 1,600 1,116 Repairs and Maintenance 5,000 3,960 Supplies 53,700 59,004 Motor Vehicle Supplies 800 343 Equipment 6,065 5,677 Communications 1,100 768 Materials 500 593 Small Tools and Equipment 1,500 1,472 Total Operating Expenses $164,405 $165,934 1 1 r 1 1 1 7� 1 1 Ll 1 1 1 1 I 1 fl 1 L 1 u 1 1 1 r 1 �J 1 FIDUCIARY FUND TYPES 1 1 1 1 1 1 1 1 1 1 1 1 f. 1 1 u TRUST AND AGENCY FUNDS 1 IFund Descriptions ICorporate Purpose Bond Series of 1987 Redemption Fund Is used to account for Investments held in escrow to pay future pr.inicipal and interest requirements on the Corporate Purpose Bond Series of 1987. IPolice Pension Fund Police Pension Fund - To account for the resources necessary to provide retirement ' and disability benefits to personnel of the Village of Deerfield Police Department. Deposit Fund Deposit Fund - To account for monies on deposit with the Village which are being ' held on a temporary basis. ' Deferred Compensation Plan Fund Deferred Compensation Plan Fund - To account for salary deductions held by the Village for certain Village employees. The deferred compensation is available to employees upon termination or retirement. ' Special Assessment Fund Special Assessment Fund - To account for the collection of assessments levied to retire special assessments for which the Village has no obligation. Deerfield Cemetery Association Fund Deerfield Cemetery ssociation Fund - To account for the monies on deposit with the y po Village which are being held for the Deerfield Cemetery Association. 1 1 1 C� J m 0 z r+ a a H Q a w w a w W c w O W V a f+ F W w x y T co U � z ao d M PM a 0 .. za "w z ¢ 0 V •- �JOJ�n ^.. 10 Cl 01 10 L'� N J �ONOr�o00N MOJ N O, r, M CO O, r� �rn0 N M O, M N O N M VI c0 M 00 O M O 01 10 N 00 ^ N d O co O 000l M I O O N co u O F O r�JJO� O J J Ln 04 'T OS M u V) 6 U M v> M N O, N M ^+ 00 V1 00 N M 00 ^ N O ^ r 00 00 00 C G d O O O .w •.r T O� O 0 0 r O M a ro 0 J O a B O .. M M .r L] U rn vs to d •- �JOJ�n ^.. O, ^ao V> J .r �ONOr�o00N MOJ O N O M O N O� J MO�p .••� ^M �rn0 N M O, M O O J O^ O J v-, N V1 O .-� ^ .•� ul O� %O V1 .•r ..�0^ M Nr,O '. O O O J -I A Vf y N MOO V1 O, ^ao V> J JasO0%^r�r-, ^r, V1 M O N O M O N l O N N V 1 N V1 O 00 00 N M O, N rn Op 0 r, M N10 ON N .--� O 00 .•-c 00 O cO co O .. J v1 �O CO. '. O co O 000l M I O O rn G L ro L •-I ro u G ro r- 0 L N N O z M G C ro CL E 0 u u 0 v cn 103 ro w ^ n ^ ^ ^ O O O O O u V) 6 U v> N v} y C a/ 00 C d O C O O O O O L O\ y r M M M M M I w N W 0^0 00 a0 0000 OD v n. Oo 00 00 00 00 12 o yr vs ua ur V L M V1 O� ^ N V1 r, ^ oD %D N 00 1 00 00 0o oo oo a.o ID 10 10 O� r� J O O Ln rn ^ 00 Ln 0 C Qf G 00 NNE M ^^ ^ ^V1 M O u m• •V) u 0 10 ^ 00 V1 00 N N N N V1 oo 7 .a y O I� .+ N N M C� N N C L O G ^ M 00 ON N 10 m O, a) F a v J ., 10 00 00 �o 10 P. a a) + G y O w O 0 0.0 o 3+ $. u O O O O O F 1 m O O O o 0 E 00 r•' a) H •O O 0 C) 1 O A u a) N O O O O O ro ro � a ocoo 0 0 0 0 0 ax ) CL C 00 of a u O� o o m ., W V L VI T m rn + u C W G ro O U a) v z ro a ¢ b w A u C ro v c 0 O w m C F4 w ca W N z N W T U rn ¢ Q •O C C G - ro •.� C L C N c0 N N N 7 W— W •-+ - " O— E ca •Li w d a u G` ~i W 1r0 F ca ca a) u- .0 •.+ A A 'O A y y ro+ a) A O y a ro ro A u ro 01 0 4) 0 n 0 C ro > W ro H T A •.+ y w .d O .a c �-• o '�C ro ¢ CO of T tC ro a u N w -3 T u P+ ro v .+ •O A w a) x C C N 7 a1 ro a to �C..) ovoro ••�wro w co ro ro al 4+ ro> aJ CL ti a) tir N M U O •.I 7 cn vi ai ai �.) u r 0 0 .0 ro O ro N L ca a) w O L O •+ rn O u x w u E F •.+ u m C a) A a) F . N F F N dad y u o a, v° ca ¢ g W p a q c a �a rn G L ro L •-I ro u G ro r- 0 L N N O z M G C ro CL E 0 u u 0 v cn 103 1 1 1 1 i 1 1 1 1 1 r t VILLAGE OF DEERFIELD, ILLINOIS EXPENDABLE TRUST FUND CORPORATE PURPOSE BOND SERIES OF 1981 STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE FOR THE YEAR ENDED APRIL 30, 1989 Revenues - Interest Expenditures - Interest Excess of Revenues over Expenditures Fund Balance May 1 April 30 See accompanying Notes to the Financial Statements. 104 $843,000 843,000 VILLAGE OF DEERF IELD , ILLINOIS TRUST AND AGENCY FUND POLICE PENSION FUND STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL FOR THE YEAR ENDED APRIL 30, 1989 Operating Revenues Taxes Property Taxes Replacement Taxes Contributions Employee Contributions Miscellaneous Interest Other Total Operating Revenues Operating Expenses Benefits and Refunds Pension Payments Separation Refunds Miscellaneous Filing Fee Total Operating Expenses Net Income Fund Balances May 1 April 30 105 131,500 67,970 87,859 20,000 20,690 500 1,620 53 152,000 90,280 87,912 $569,000 637,515 643,411 See accompanying Notes to the Financial Statements. 5,055,040 4,411,629 ec �n� ccc ec ncc ni,n 1989 1988 Budget Actual Actual $150,000 $ 148,818 $ 144,528 6,000 6,612 5,496 115,000 83,619 107,902 450,000 488,746 473,179 218 721,000 727,795 731,323 131,500 67,970 87,859 20,000 20,690 500 1,620 53 152,000 90,280 87,912 $569,000 637,515 643,411 See accompanying Notes to the Financial Statements. 5,055,040 4,411,629 ec �n� ccc ec ncc ni,n 1 1 1 i 1 1 i 1 1 1 1 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS TRUST AND AGENCY FUNDS POLICE PENSION FUND STATEMENT OF CHANGES IN FINANCIAL POSITION FOR THE YEAR ENDED APRIL 30, 1989 1989 1988 Cash Was Provided By Operations Net Income $ 637,515 $ 643,411 Decrease in Current Assets 25,657 Increase in Current Liabilities 275 637,790 669,068 Cash Was Used To Decrease Current Liabilities 1,406 Increase Current Assets 6,434 6,434 1,406 Net Increase 631,356 667,662 Cash and Investments May 1 4,839,333 4,171,671 April 30 $5,470,689 $4,839,333 See accompanying Notes to the Financial Statements. 106 VILLAGE OF DEERFIELD, ILLINOIS AGENCY FUNDS COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES FOR THE YEAR ENDED APRIL 30, 1989 Deferred Compensation Plan Fund ASSETS Assets Held by Agents for Deferred Compensation Plan (Market Value) $716,674 $210,696 $ 48,980 LIABILITIES Due to Participants $716,674 $210,696 $ 48,980 See accompanying Notes to the Financial Statements. 107 Balances April 30 $ 251,651 ' 584 1,779 878,390 $1,132,404 1 $ 642 , 185,293 878,390 68,079 ' $1,132,404 $ 166,953 165 1 ,779 $ 168,897 ' $ 642 i 168,255 $ 168,897 i $ 878,390 1 $ 878,390 , Balances May 1 Additions Deductions All Funds ASSETS Cash and Investments $230,993 $ 20,658 Receivables Assessments 9,385 $ 299 Other 299 553 9,354 Due from Other Funds 1,779 Assets Held by Agents for Deferred Compensation Plan (Market Value) 716,674 210,696 48,980 Total Assets $957,351 $233,686 $ 58,633 LIABILITIES Accounts Payable $ 461 $ 181 Deposits Payable 155,324 29,969 Due to Other Funds 10,707 $ 10,707 Due to Participants 716,674 210,696 48,980 Rebate Payable 74,185 6,106 Total Liabilities $957,351 $240,846 $ 65,793 Deposit Fund ASSETS Cash and Investments $166,461 $ 492 Receivables - Other 31 134 Due from Other Funds 1,779 Total Assets $166,492 $ 2,405 - LIABILITIES Accounts Payable $ 461 $ 181 Deposits Payable 155,324 12,931 Due to Other Funds 10,707 $(10,707) Total Liabilities $166,492 $ 13,112 $(10,707) Deferred Compensation Plan Fund ASSETS Assets Held by Agents for Deferred Compensation Plan (Market Value) $716,674 $210,696 $ 48,980 LIABILITIES Due to Participants $716,674 $210,696 $ 48,980 See accompanying Notes to the Financial Statements. 107 Balances April 30 $ 251,651 ' 584 1,779 878,390 $1,132,404 1 $ 642 , 185,293 878,390 68,079 ' $1,132,404 $ 166,953 165 1 ,779 $ 168,897 ' $ 642 i 168,255 $ 168,897 i $ 878,390 1 $ 878,390 , 108 VILLAGE OF DEERFIELD, ILLINOIS AGENCY FUNDS STATEMENT OF CHANGES IN ASSETS AND LIABILITIES (CONT.) FOR THE YEAR ENDED APRIL 30, 1989 Balances Balances May 1 Additions Deductions April 30 Special Assessment ASSETS Cash and Investments $ 64,532 $ 3,547 $68,079 Receivables - Assessments 299 $ 299 - Other 9,354 9,354 Total Assets $ 74,185 $ 3,547 $9,653 $68,079 LIABILITIES Rebate Payable $ 74,185 $6,106 $68,079 Deerfield Cemetery Association ASSETS Cash and Investments $16,619 $16,619 Receivables - Other 419 419 Total Assets - $17,038 - $17,038 LIABILITIES Deposits Payable $17,038 $17,038 Total Liabilities - $17,038 - $17,038 See accompanying Notes to the Financial Statements. 1 1 1 1 1 1 1 1 1 1 I 1 C� 1 1 1 1 ACCOUNT GROUPS 1 1 C I I I 1 1 rl C 1 I 1 1 1 1 1 GENERAL FIXED ASSETS ACCOUNT GROUP 1 I 1 1 General Fixed Assets Account Group To account for fixed assets not in proprietary fund operations or accounted for in ' trust funds. 1 1 1 1 r, I 1 1 J 1 1 1 r 109 VILLAGE OF DEERF IELD , ILLINOIS GENERAL FIXED ASSETS ACCOUNT GROUP SCHEDULE OF GENERAL FIXED ASSETS - BY SOURCE APRIL 30, 1989 GENERAL FIXED ASSETS Land $2,609,522 Buildings and Improvements 1,314,850 Vehicles 521,237 Equipment 1,372,251 $5,817,860 INVESTMENT IN GENERAL FIXED ASSETS General Revenues $3,917,860 General Obligation Bonds 1,500,000 Installment Contracts 400,000 es Q17 agn 1 1 i 1 1 1 i 1 1 1 1 1 1 1 1 1 1 1 1 a A cn O H pC O u N H a a� H O U A � W cn H [-4 am w fn A d A w w ox H C7 w da a >w c.7 i F4 H H E4 U d A z d O H H U z o w A I M H w C/)i d A W H w a z w ca w 0 w w x U �t 00 00 O cY) a1 o %0 (A V) rn 00 ,--I ^ W Lr) ^ ca 00 R r� C 41 -4 N n -4 O O 00 m 00 E-4 cy1 ^ <rj- ^ N N O V1 t? U Vj �r .f V) N 4 a1 V1 4 .4 V) N N r� N W Lr) u, O� 00 N R r� C V) N •r4 00 00 O r- 0 N -4 M cy1 <rj- 9 0J.- O O r+ ca O U .,a �4 U) O m It r- a1 V1 00 O M •� a u Lr) u, O� 00 N .a o V1 V) --� V1 1-4 N N N -4 M V) <rj- 9 0J.- 110 m •� a V, Lr) u, O� 00 N V1 r-- V1 00 00 C ^ ON rr .b N 4 V\ f\ b C 9 .-+ O O r+ ca O U .,a �4 cn 3 o C) =1 a r+ cm u .� M Pq Q u V} - H N �X, a a a: a d N 04 �1 't N n Cl V1 00 rn co ^ �-� 0 ,a -4 N � � 110 •� C a� O u d T ca O 4-4 w U C cn 3 o r+ cm u u u v - �X, a a 110 III VILLAGE OF DEERFIELD, ILLINOIS GENERAL FIXED ASSETS ACCOUNT GROUP SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS - BY FUNCTION AND ACTIVITY FOR THE YEAR ENDED APRIL 30, 1989 Balances Balances Function and Activity May 1 Additions Deletions April 30 General Government $1,539,818 $479,916 $ 1,200 $2,018,534 Public Safety 2,793,671 33,147 2,400 2,824,418 Public Works 961,616 20,406 7,114 974,908 $5,295,105 $533,469 $10,714 $5,817,860 P 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 GENERAL LONG TERM DEBT ACCOUNT GROUP 1 1 1 1 General Long -Term Debt Account Group To account for the long -term portion of the Village's Bond Issues and Installment ' Contracts. 1 1 1 1 1 F 1 1 1 1 1 1 1 i • • i � • is is ii • i i i ' a is — iS � It � � •4 N N a} v} v} W H 000 C^ O O� M N I O ll O O M Ln V1 y 28 w 00 Ln o o 0 0 N r� N O O P 00 a% O O� �pp 00 � O Ln uO1 01% V pq O 00 v a4 Q co w 00 m N N u1 r1 a° c) Z5 Z5 cn 3 I� N c93i r ° Vy• N � I41 co O O O O o <h- w u ww b 14 41 A '.9 v � � A co ° M 112 1 1 1 1 1 1 1 1 J 1 1 1 1 1 1 1 SUPPLEMENTARY DATA l VILLAGE OF DEERFIELD, ILLINOIS ILLINOIS MUNICIPAL RETIREMENT FUND REQUIRED SUPPLEMENTARY INFORMATION ANALYSIS OF FUNDING PROGRESS APRIL 30, 1989 113 1 I 1 (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. 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 Year or Market) Benefit Obligation Funded (1) t (2) Obligation (2) - (1) Covered Payroll of Covered Payroll (4) - (5) 1988 $1,785,417 $3,229,435- 55.29% $1,444,018 $2,292,114 63.00% 1989 1,488,727 3,137,943 47.44 1,649,216 2,529,121 65.21 1 I 1 (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. 1 114 VILLAGE OF DEERFIELD, ILLINOIS POLICE PENSION FUND REQUIRED SUPPLEMENTARY INFORMATION ANALYSIS OF FUNDING PROGRESS APRIL 30, 1989 (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. (4) (6) Unfunded Unfunded (Assets (1) (Assets in in Excess of) Net Assets Excess of) Pension Benefit Available (2) (3) Pension (5) Obligation as a for Benefits Pension Percentage Benefit Annual Percentage of Fiscal (Lower of Cost Benefit Funded Obligation Covered Covered Payroll Year or Market) Obligation (1) , (2) (2) — (1) Payroll (4) t (5) 1988 $5,055,040 $4,290,531 118.0% $(764,509) $1,237,594 (62.0)% 1989 5,692,830 4,823,277 118.0 (869,278) 1,380,114 (63.0) (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. 1 r i r i r t t t 115 VILLAGE OF DEERFIELD, ILLINOIS ILLINOIS MUNICIPAL RETIREMENT FUND REQUIRED SUPPLEMENTARY INFORMATION REVENUES BY SOURCE APRIL 30, 1989 Employer Revenues by Source Contributions as Fiscal Employee Employer Investment a Percentage of Year Contributions Contributions Income Totals Covered Payroll 1979 $ 51,742 $ 84,897 N/A $136,639 8.36% 1980 59,013 94,605 N/A 153,618 8.35 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 1987 103,137 179,472 N/A 282,609 8.21 1988 113,907 204,352 N/A 318,259 8.08 116 VILLAGE OF DEERFIELD, ILLINOIS POLICE PENSION FUND REQUIRED SUPPLEMENTARY INFORMATION REVENUES BY SOURCE AND EXPENSES BY TYPE APRIL 30, 1989 Expenses by Type Employer Administrative Year Contributions Expenses Refunds Revenues by Source 1980 as a Percentage Fiscal Employee Employer Investment 25,992 of Covered Year Contributions Contributions Income Totals Payroll 44,014 1983 1980 $ 60,413 $128,163 $ 86,824 $275,400 14.11% 1981 67,138 124,536 109,761 301,435 14.20 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 Expenses by Type Fiscal Administrative Year Benefits Expenses Refunds Totals 1980 $25,231 $ 55 $ 188 $ 25,474 1981 25,992 25 5,276 31,293 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 67,970 1,620 20,690 90,280 1 1 1 1 i 1 1 1 1 1 A 117 VILLAGE OF DEERF IELD , ILLINOIS LONG -TERM DEBT REQUIREMENTS SEWERAGE IMPROVEMENT BOND SERIES OF 1973 APRIL 30, 1989 Date of Issue Date of Maturity Authorized Issue Actual Issue Denomination of Bonds Interest Rate 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 Bond Levy Numbers Year Principal 152 -166 1987 167 -181 1988 $ 75,000 182 -196 1989 75,000 197 -206 1990 50,000 207 -216 1991 50,000 $250,000 Interest Totals $ 6,250 $ 6,250 10,625 85,625 6,875 81,875 3,750 53,750 1,250 51,250 $28,750 $278,750 Coupons Due on Dec. 1 Amount June 1 Amount 1989 $ 6,250 1989 $ 6,250 1990 4,375 1990 4,375 1991 2,500 1991 2,500 1992 1,250 1992 1,250 $14,375 $14,375 VILLAGE OF DEERF IELD , ILLINOIS LONG -TERM DEBT REQUIREMENTS SEWERAGE TREATMENT FACILITIES BOND SERIES OF 1973 APRIL 30, 1989 Date of Issue Date of Maturity Authorized Issue Actual Issue Denomination of Bonds Interest Rate Principal Maturity Date Interest Dates Payable at June 1, 1973 December 1, 1992 $2,000,000 $2,000,000 $ 5,000 4.4% -6.0% December 1 June 1 and December 1 Belleville National Savings Bank PRINCIPAL AND INTEREST REQUIREMENTS 118 1 C 1 R 1 1 r Tax Bond Levy Coupons Due on Numbers Year Principal Interest Totals Dec. 1 Amount June 1 Amount 266 -296 1987 $13,750 $ 13,750 1989 $13,750 297 -315 1988 $125,000 24,375 149,375 1989 $13,750 1990 10,625 316 -340 1989 125,000 18,125 143,125 1990 10,625 1991 7,500 341 -370 1990 150,000 11,250 1615250 1991 7,500 1992 3,750 371 -400 1991 150,000 3,750 153,750 1992 3,750 $550,000 $71,250 $621,250 $35,625 $35,625 C 1 R 1 1 r 1 1 1 1 1 1 1 1 1 r i 1 I 1 1 1 i 1 119 VILLAGE OF DEERFIELD, ILLINOIS LONG -TERM DEBT REQUIREMENTS CORPORATE PURPOSE BOND SERIES OF 1982 APRIL 30, 1989 Date of Issue October 1, 1982 Date of Maturity December 1, 1994 Authorized Issue $500,000 Actual Issue $500,000 Denomination of Bonds $ 5,000 Interest Rate 9.60% - 10.25% Principal Payment Date December 1 Interest Dates June 1 and December 1 Payable at The Northern Trust Company PRINCIPAL AND INTEREST REQUIREMENTS Tax Bond Levy Coupons Due on Numbers Year Principal Interest Totals June 1 Amount Dec. 1 Amount 26 -35 1988 $ 50,000 $ 34,275 $ 84,275 1989 $17,138 1989 $17,137 36 -45 1989 50,000 30,025 80,025 1990 15,013 1990 15,012 46 -55 1990 50,000 25,650 75,650 1991 12,825 1991 12,825 56 -70 1991 75,000 21,150 96,150 1992 10,575 1992 10,575 71 -85 1992 75,000 14,250 89,250 1993 7,125 1993 7,125 86 -100 1993 75,000 7,200 82,200 1994 3,600 1994 3,600 $375,000 $132,550 $507,550 $66,276 $66,274 VILLAGE OF DEERFIELD, ILLINOIS LONG -TERM DEBT REQUIREMENTS CORPORATE PURPOSE BOND SERIES OF 1982 - A APRIL 30, 1989 Date of Issue Date of Maturity Authorized Issue Actual Issue Denomination of Bonds Interest Rate Principal Payment 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 120 1 I 1 1 1 1 Tax Bond Levy Coupons Due on Numbers Year Principal Interest Totals June 1 Amount Dec. 1 Amount 51 -60 1988 $ 50,000 $20,750 $ 70,750 1989 $10,375 1989 $10,375 61 -70 1989 50,000 16,750 66,750 1990 8,375 1990 8,375 71 -80 1990 50,000 12,750 62,750 1991 6,375 1991 6,375 81 -90 1991 50,000 8,500 58,500 1992 4,250 1992 4,250 91 -100 1992 50,000 4,250 54,250 1993 2,125 1993 2,125 $250,000 $63,000 $313,000 $31,500 $31,500 I 1 1 1 1 1 1 1 1 1 1 1 1 11 i 1 1 1 1 i Tax VILLAGE OF DEERFIELD, ILLINOIS LONG -TERM DEBT REQUIREMENTS CORPORATE PURPOSE BOND SERIES OF 1986 APRIL 30, 1989 May 1, 1986 January 1, 2005 $11,000,000 $11,000,000 $ 5,000 6.4% - 7.75% January 1 January 1 and July 1 American National Bank & Trust Co. Chicago, Illinois PRINCIPAL AND INTEREST REQUIREMENTS 121 Levy Date of Issue Date of Maturity Authorized Issue Due on Actual Issue Denomination of Bonds - Interest Rate Interest Principal Payment Date July 1 Interest Dates Jan. 1 Payable at 1 1 1 1 1 11 i 1 1 1 1 i Tax VILLAGE OF DEERFIELD, ILLINOIS LONG -TERM DEBT REQUIREMENTS CORPORATE PURPOSE BOND SERIES OF 1986 APRIL 30, 1989 May 1, 1986 January 1, 2005 $11,000,000 $11,000,000 $ 5,000 6.4% - 7.75% January 1 January 1 and July 1 American National Bank & Trust Co. Chicago, Illinois PRINCIPAL AND INTEREST REQUIREMENTS 121 Levy Coupons Due on Year Principal Interest Totals July 1 Amount Jan. 1 Amount 1988 $ 300,000 $ 735,613 $ 1,035,613 1989 $ 367,806 1990 $ 367,807 1989 410,000 712,363 1,122,363 1990 356,181 1991 356,182 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 975,000 136,350 1,111,350 2003 68,175 2004 68,175 2003 1,045,000 70,538 1,115,538 2004 35,269 2005 35,269 $10,600,000 $7,169,753 $17,769,753 $3,584,871 $3,584,882 122 VILLAGE OF DEERFIELD, ILLINOIS LONG -TERM DEBT REQUIREMENTS CORPORATE PURPOSE BOND SERIES OF 1987 APRIL 30, 1989 Date of Issue October 8, 1987 Date of Maturity October 8, 2002 Authorized Issue $10,000,000 Actual Issue $10,000,000 Denomination of Bonds $ 5,000 Interest Rate 8.4% - 8.5% Interest Dates October 8 and April 8 Payable at Marine National Bank CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS Tax Levy Requirements Coupons Due on Year Principal Interest Totals Apr. 8 Amount Oct. 8 Amount 1987 $ 421,500 $ 421,500 1989 $ 421,500 1988 843,000 843,000 1990 $ 421,500 1990 421,500 1989 843,000 843,000 1991 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 $10,792,500 $20,792,500 $5,185,500 $5,607,000 ' 123 VILLAGE OF DEERFIELD, ILLINOIS LONG -TERM DEBT REQUIREMENTS GENERAL OBLIGATION BOND, SERIES OF 1988 APRIL 30, 1989 1 CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS Date of Issue November 1, 1988 ' Date of Maturity January 1, 2004 Authorized Issue $3,000,000 Denomination of Bonds $5,000 Tax Levy Interest Rates 6.50 %, 6.60%, 6.70- 6.75 %, 6,80%, Interest Due on 6.90 %, and 8.0% Interest Dates January 1 - July 1 Interest Principal Maturity Date January 1 Amount Payable at American National Bank and Trust Company 1988 of Chicago CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS $3,000,000 $1,955,465 $4,955,465 $995,353 $960,112 1 1 1 Tax Levy Tax Levy Interest Due on Year Principal Interest Toi-alS July 1 Amount Jan 1 Amount 1988 $ 100,000 $ 246,706 $ 346,706 1989 $140,975 1990 $105,731 1989 125,000 203,462 328,462 1990 101,731 1991 101,731 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 20Q2 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 $3,000,000 $1,955,465 $4,955,465 $995,353 $960,112 1 1 1 124 VILLAGE OF DEERFIELD, ILLINOIS POLICE PENSION FUND SCHEDULE OF OFFICERS' DEPOSITS APRIL 30, 1989 Balance Balance May 1 Deposits Withdrawals April 30 Kenneth Anderson $ 31,830 $ 4,662 $ 36,492 Leo Anderson 31,421 4,538 35,959 Mark Anfenson 13,375 3,462 16,837 Marcea Ross 23,508 3,438 26,946 Richard Brandt 47,271 6,077 53,348 Kurt Bruno 6,228 $ 6,228 William Butler 37,102 3,462 40,564 Louis Cacciatore 8,960 3,440 12,400 Robert Davenport, Jr. 47,502 5,056 52,558 David P. Ebert 33,168 1,266 34,434 John Elofson 30,716 3,462 34,178 William Ennis 24,998 3,114 28,112 Marie Rose Gawne 21,570 2,406 23,976 Robert Hamilton 42,547 4,181 46,728 Thomas Hill 38,881 4,298 43,179 George Hoffman 32,567 3,462 36,029 Kevin K. Keel 3,294 2,790 6,084 Dave Lemmer 10,000 3,463 13,463 Eric Lundahl 17,515 3,462 20,977 Jeffrey McDermott 42,083 4,366 46,449 Robert Ogden 16,070 3,461 19,531 Rand J. Roel 12,543 3,462 16,005 Michael E. Scarry 6,481 3,032 9,513 John Sebben 29,684 3,462 33,146 Thomas Sheahan 26,398 26,398 Thomas Skrabala 38,046 5,056 43,102 John Sliozis 26,762 4,406 31,168 Michael Soler 27,909 3,462 31,371 Melvin Soltwisch 7,149 3,164 10,313 Gary Stryker 37,615 4,440 42,055 Larry Tousignant 42,809 4,537 47,346 David Turnbaugh 38,306 4,301 42,607 Richard Weil 17,025 3,462 20,487 Ross Roel 125 2,342 2,467 Brian Budnz 1,884 1,884 Tom Foley 372 372 Geoffrey Ruther 335 335 Karen Stachowicz 384 384 Richard Wilh 1,292 1,292 $871,458 $123,259 $32,626 $962,091 1 125 VILLAGE OF DEERFIELD, ILLINOIS SCHEDULE OF INSURANCE IN FORCE ' APRIL 30, 1989 I� 1 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- 1 Level Excess Liability Pool Agency. Excess liability coverage is provided under this agency. 1 1 1 1 1 1 Insureds Description of Coverage Village of Deerfield Workmens Compensation Statutory/ $30,000,000 Village of Deefield Comprehensive Automobile Liability Bodily Injury and Property $1,000,000 Village of Deerfield General Liability $1,000,000 ' Village of Deerfield Blanket Building and Contents $30,000,000 Village of Deerfield Boiler and Machinery $10,000 Public Officials Blanket Bond Coverage $10,000/ $1,000,000 1 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- 1 Level Excess Liability Pool Agency. Excess liability coverage is provided under this agency. 1 1 1 1 1 1 1 1 1 1 1 1 Statistical Section u 1 1 1 1 L 1 t 1 1 1 1 1 1 1 1 i 1 1 1 1 1 1 1 1 1 1 1 E i5 i5 • FA 126 N JV 1, O M ON �Mp �O w Ln O Ln 00 a0 cn O a0 � N .-a it � p O 00 0� O C" j �O M M Ln M ^ N N 00 4 t N M v1 L Lm -� a0 M ri N N n VQ} V} M MO A N 8 o N Op I LM N Ln Lip � 00 O 00 N N N L O %O r N M 00 O00 .-i 00 N M N O m n M Ln cn N M Ln M n %0 co n ^ O W N 00 M � L � N �N} NO 00 W) 00 Ln N as L Ln �-i n p 0J NI00 O M 00 M n O Oo ON M ull tf1 N �f1 W7 Ln 8 }+ co N �O N a0 MN O Oo � tNr1 N O 8 U.� M A U1 co O �C � N .1 VO 4 N M w V} U AL U ra -4 0 cd $4 a�i rw u r, v o a o r-4 co 4 N p � iJ � A 0^0 J-� RT � •�-1 JJ q § � C/3 Pis ■ � % & § 2 d -4 § � % § 127 M n r- q w -4 q 9 ¥ � r- $|\ ON rl / r $ ® q q r- q -4 as ON 7 �D o � o q \ r o CN / 3 C14 q 3 $ n � � V) � Ln CV) k| - / n \ f r It © � K q V) N ON q �D / \ # Ln P, O k / %D" 00 / " / / r / N � / q Lr) 00 9 00 L / q / = r 3 r � r G / o 7 r �tq % / \ � '? f| .~ k 'T CO.. $ / / / ~ / « o # G M q| r m � r- o q ON @ % - \ cn � 24 �| � / / k % CY) � .S \ / 7 q � f / 9 C*4 00 / �| % \ / I-f $ C44 � 2�cd, q 9 7 % ? J 2 C o -4 $ C # 2 / / / . � % 3 § § `e \ \ ` $ $ § 2 c § / -4 � \ ca / u % § ± m $ \ S j m w \ ¢ 127 1 ' VILLAGE OF DEERFIELD, ILLINOIS PROPERTY TAX ASSESSED VALUATIONS, RATES, EXTENSIONS AND COLLECTIONS LAST TEN FISCAL YEARS APRIL 30, 1989 1 1 (See Following Page) 1 1 1 1 1 1 I 1 1 I 1 cn cn- cn off H O t�la W c O 0 00 O^ M N o0 N f\ iM O��Y M�OO�OM M ►� pLn 8I C GO a H� a y C w w e M -4 � m I q} Lr) VNi kk 8 pp p MO EIO GW+ ^ ^ N ON O I I I 1 ^'4 %D N N NN as N L.1 O 4 LA U1- N� �MN 0 N 00 �( N � .-� N �n M C1 .-� N 0m I t!} �D cn kk H ) �p7 �OON �^;DI C I 00 O Lnp 0np 00 N Ln �NpNO �O "0 00 0I v^ co N I n CN �O��M I Nil 00 I� oo�pp M O M M co i 00cn NUn00mLn Ln n �-4 t1 �Gva 000 r N��MM.� -� O cl �I I cn M v� vNi t� �I N N °g ° 8 01 o °II N O� 00 r- N O u m �r1r- a0M V131 m m N N •-� O\ �i � ^ q�q� pp Ln NOOcOV O�OI OII c L Qtr C GO a H� a y C w w e 4 ri u FG N u -4 �i . 0 vi v w —1 � 2 W o n�'aa8 w°''w v c� � tea) � w 1 1 1 1 1 1 1 i 1 1 1 1 1 1 1 1 1 1 1 a) M •-+ N co M •-4 O N Cn M N M "O %0 .--4 '* M g CT 0 V-1 0 u1 M O� M .•.i %OMM Mai M n t\ , -4 r, Ln q? H �O.��Op M -:OI 00II Mo�OO�M 0�,! aMOL ^ n +C� � M -4 CC Ln M 00 0 9 �p 0I I N tnN��r\Q 000\ .t .-1 O N .� "D N �p � �Q M I� C+N1 rn I rn v} � M Q) CO �t N O� o80 °0�' M� NInOOpN MOn O III M 1r N OO�C� O r- -O O� O� OR Clt %0 M��NM Lnm M C1 co CN r` vl Co CO _4 M CaCn� 00 pp N O� N N c'1 u 1 � Q� ^ 00 O 0p0� � 00p0 I- M N QFj � �NCV �M� M � O� oppp N I • �g N� 01)- L 0 � �U'lo A"'' H .i I A Op rn N III Ln c�1 tJ �j �p C 00 � O� A � N n I� O Op Q,�j L N N M� % C O cl cl L 00- +WI W ,n A rn O8I � �y CV O -i O M N i O p I I coy N 2 O Aj O O �N 4 ^g (h •y�j W •U -4 U u . LJ • r4 L S•� L14 4.J �•� ` a� 2� `'.� w a x #� a� -4 . � v uvi �c� 4.J� Qua -4 $1 0 co w H H s f Q 0 128 VILLAGE OF DEERFIELD, ILLINOIS ASSESSED AND ESTIMATED VALUE OF TAXABLE PROPERTY LAST TEN FISCAL YEARS APRIL 30, 1989 Tax Assessed Value Levy Real Personal Railroad Estimated Year Property Property Property Totals Value 1979 $187,888,610 * $16,018 $187,904,628 $564,000,000 1980 221,339,145 * 18,044 221,357,189 664,000,000 1981 227,433,235 * 24,051 227,457,286 682,000,000 1982 236,918,613 * 25,565 236,944,178 711,000,000 1983 235,899,599 * 31,938 235,931,537 708,000,000 1984 245,799,001 * 39,522 245,838,523 738,000,000 1985 249,312,226 * 38,331 249,350,557 748,000,000 1986 279,339,024 * 47,194 279,386,218 839,000,000 1987 314,936,632 * 50,397 314,987,029 945,000,000 1988 377,155,705 * 53,070 377,208,775 995,000,000 * No longer assessed due to change in Illinois State Statutes. Office of the County Clerk 129 I 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 T; c 8 Q A I O w P4, P4 130 N N M M W n N�� pp A r- ppp ON OOO1O `9 � N N N N n I OS M 'It -,t n U"S p 00 -4 00 .-4 %p0 0 Ln N ry 'i N N N �j O U'1 I- N --4 ON N O^ 000 O Ln N M N N N V-lI •-+ ON �O O I- n Opp N .-a %0 O\ N O 0 10 %000 It 8 V1NMN m 1-4 1 N N N • O r-1 O C1 N %O rn 00 O 0 N �ONum1 I N cn N N N T 0 w tN m Opp 00%00 o N �C �I0 0 It1.01.0 4 8 n ^ON %D w ^� N N N O O u 41 O) M • � C/} a U N N L O b w P o t A L -4 . M O) ^� U H A a w U •� m u U 4 Q) � i O) b W v A L L A w � -4 414 W >N I '" � L .4 . � '� v o 4 �'b i0 P4 c Macy U °' cL GO p 1 R) •.1 OD •O .0 w O -4 CZ M •4+ N O) �0�0 N 0 41 w I Q U U] x ti O cn N >3c�x� x z It •2 a o N_ � 0 0 %0 %0 �t O p p �7 n �Nt N Ln 00 N N N G*+ co .op-pp� ON M cn M� M � ' Ln ccn f� •-+ N �O .� N N N N O O^ O� ON00 ~ 00 Ln 1- M O C4 M %0 ON %0 N N N • O r-1 O C1 N %O rn 00 O 0 N �ONum1 I N cn N N N T 0 w tN m Opp 00%00 o N �C �I0 0 It1.01.0 4 8 n ^ON %D w ^� N N N O O u 41 O) M • � C/} a U N N L O b w P o t A L -4 . M O) ^� U H A a w U •� m u U 4 Q) � i O) b W v A L L A w � -4 414 W >N I '" � L .4 . � '� v o 4 �'b i0 P4 c Macy U °' cL GO p 1 R) •.1 OD •O .0 w O -4 CZ M •4+ N O) �0�0 N 0 41 w I Q U U] x ti O cn N >3c�x� x z It •2 a o V rn Fl; EOyq�� a0 I .Oi U w w O a -- 131 - - M 9 g § o al o � N M N VY VT V} J N popp a0 N M OM+ M Vf m m O 10 m M N !? VT V} N 8 cn u'1 N O 10 I pppp O O a�ppp m t+1 O m M N 1� N !/T 4f N In n M %D (V 8 10 L cn 3 C, -r M .7 N N c cco m V1 I-: ' S o �p M � 8 N t/Y N pppp co 8 p0p0 d�Y zs �7 .-i N M 00 N � N Rc� 0l d �Oj N --1 .� Vl oo m n a0 p�p d .Y N N VT N 8 n n n 10 n m m M m N N N N l? V} N � cps 8 p �7 lD O N Op I •^-i � N �-i .M� 00 VT N t? 7 y cco G7 U 4 N •.a W N UUU 9 u GQQ 0 O v� co (y Q 1J yJ L {� yN QNJ fL{� a0 I .Oi U w w O a -- 131 ' 132 VILLAGE OF DEERFIELD, ILLINOIS SCHEDULE OF LEGAL DEBT MARGIN ' APRIL 30, 1989. 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 refer- ' endum 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 populations 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 there- after 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: Assessed Valuation - Estimated $377,208,775 ' Legal Debt Limit - 8.625 $ 32,534,257 Amount of Debt Applicable to Limit ' Sewerage Improvement Bonds $ 250,000 Sewerage Treatment Facility Bonds 550,000 Corporate Purpose. Bond Series 1982 375,000 Corporate Purpose Bond Series 1982 -A 250,000 Corporate Purpose Bond Series 1986 10,600,000 Corporate Purpose Bond Series 1987 10,000,000 ' General Obligation Bond Series 1988 3,000,000 Available Funds (11,073,987) 13,951,013 Legal Debt Margin $ 18,583,244 The Village has available funds in the Debt Service and Expendable Trust Funds ' in the amount of $11,073,987. 1 1 VILLAGE OF DEERFIELD, ILLINOIS SCHEDULE OF DIRECT AND OVERLAPPING DEBT APRIL 30, 1989 Governmental Unit Village of Deerfield Metropolitan Sanitary District Lake County Cook County North Shore Sanitary District Deerfield Park District Northbrook Park District Highland Park District Deerfield Elementary #109 Highland Park Elementary #108 Township High School #113 Northfield Township High School 4225 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 (1) $ 25,025,000 746,430,000 54,745,000 564,880,000 4,124,000 1,160,000 17,445,000 2,425,000 525,000 6,200,000 4,900,000 10,450,000 850,000 1,439,159,000 11,073,987 $1,428,085,013 (2) Percentage of Debt Applicable to the Village 100.000% .081 5.236 .079 .026 96.718 3.680 1.751 73.050 6.723 28.388 2.469 6.348 31.631 1 1 ** Village's ' Share of Debt $25,025,000 604,608 2,866,448 446,255 1,072 1,121,929 641,976 42,462 35,296 1,760,056 120,981 663,366 268,864 33,598,313 11,073,987 $22,524,326 * - 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 � � � � � � � � � � � � � � � � � � � / \ § ± ) R > 1]& \ \ ± s \ \ \ || /� \ \ a, a, —� \ / Q. Ln co a \ & a \ k \l I \ � 2 m (I \ }�{ ~ cn|I }({ k co � £ f \� � k _ 2 . ) i \ ( ) 7 � ] ) | / J ! \ \ ° ./ \ §` 'o % a a ]\j \\ \ \ .2 ` § 2) a o7 \ % / 1]& § m § § ' ƒ � ]\ § /w b �2 /§ § § 7� \ \ \ \ 00 \ \ \ \ \ \ \ || ai li co of » / O \ k —� / Ln cn � f � C9 n \ f \ k \ / k \ -1 1 11 R § § ) ) - / © \ ) |� k 7 (� G § \ \ /� ~ ) % \ § 9 2 0 E ( \ S w ) } $ ) ] % / • } � \ \ 9 2 ( / { \ / \ \ ] e ) v v) R 6 a � \ # \ \ f f § || / / 3 q e » 7 7� \ \ \ \ 00 \ \ \ \ \ \ \ || / O \ k —� f � C9 n \ f \ k \ / k \ -1 1 11 R - - ID © k 7 \ § L \ ) % 0 E ( \ S ) } $ ) ] % / • } � \ \ ( / { \ / \ \ ] e ) v v) R 6 a # / , ) 1]5 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 136 VILLAGE OF DEERFIELD, ILLINOIS PROPERTY VALUE, CONSTRUCTION, AND BANK DEPOSITS LAST -TEN FISCAL YEARS APRIL 30, 1989 Data Sources (1) Construction figures - Village of Deerfield, Building and Zoning Department. (2) Bank Deposits were based on commercial bank deposits. (3) Estimated historical cost data provided by Township's Assessors Office (1) (1) Commercial Residential (3) Construction Construction (2) Total Fiscal Number Number Bank Property Year of Units Value of Units Value Deposits Value 1980 52 $ 1,580,392 67 $ 5,650,240 $ 49,178,000 $564,000,000 1981 59 3,235,868 85 1,852,788 52,282,000 664,000,000 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 1985 101 34,504,614 50 6,552,552 64,750,000 710,800,000 1986 135 37,746,399 90 11,318,142 130,155,000 748,100,000 1987 79 44,287,589 86 8,089,179 141,241,000 838,160,000 1988 110 21,705,751 51 5,489,656 149,182,000 944,962,000 1989 222 75,592,000 72 12,463,000 163,472,790 995,080,000 Data Sources (1) Construction figures - Village of Deerfield, Building and Zoning Department. (2) Bank Deposits were based on commercial bank deposits. (3) Estimated historical cost data provided by Township's Assessors Office (1) 1980 - Census figure; 1981 -1989 derived from data from the Department of Commerce and Community Affairs. (2) 1980, Northeastern Illinois Planning Commission figures; 1981 -1989 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 enrollement of District 109 (grade school), and District 113 (high school). (5) Unemployment figures based on 1/4 of Lake County figures. 1980 Census data figures show 7.0% unemployment for Lake County and 1.8% for Deerfield. 137 ' VILLAGE OF DEERFIELD, ILLINOIS ' DEMOGRAPHIC STATISTICS LAST TEN FISCAL YEARS APRIL 30, 1989 ' ' (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 Population Income Age of College ment Percentage 1980 17,430 $35,000 32.7 50.1 4,568 1.8% 1981 17,453 37,000 33.3 50.1 4,318 1.7 ' 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 1988 17,500 17,500 47,500 48,100 36.8 37.2 51.1 51.3 3,602 3,276 1.3 1.1 ' 1989 17,500 50,900 37.4 51.5 3,238 .9 Data Sources (1) 1980 - Census figure; 1981 -1989 derived from data from the Department of Commerce and Community Affairs. (2) 1980, Northeastern Illinois Planning Commission figures; 1981 -1989 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 enrollement of District 109 (grade school), and District 113 (high school). (5) Unemployment figures based on 1/4 of Lake County figures. 1980 Census data figures show 7.0% unemployment for Lake County and 1.8% for Deerfield. 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS PRINCIPAL TAXPAYERS APRIL 30, 1989 Taxpayers Baxter International VMC, Inc. Stein and Company Deerfield - Saunders Joint Venture Lake Cook Plaza Kitchens of Sara Lee LaSalle National Bank Tollway North Draper and Kramer Flodstrom Construction Data Source Office of the County Clerk Business Office Buildings Deerbrook Shopping Center Lake Cook Office Center Parkway North Office Building Shopping Center Bakery Products Office Buildings Tollway North Office Park Deerfield Business Center Office Building 1988 Assessed Valuation $16,611,570 15,344,855 12,982,741 6,307,718 5,599,912 5,547,947 5,173,490 4,.593,652 4,036,541 2,978,993 tl7n 117 Lin 138 Percentage of Total Assessed 4.4% 4.1 3.4 1.7 1.5 1.5 1.4 1.2 1.1 .8 21.1% 139 VILLAGE OF DEERFIELD, ILLINOIS MISCELLANEOUS STATISTICS APRIL 30, 1989 Date of Incorporation 1903 Form of Government Manager /Council Geographic Location North Suburban Number of Stations Chicago Area 38 Population 1950 3,288 1960 11.748 1970 18,876 1980 17,430 MUNICIPAL SERVICES AND FACILITIES Fire Protection: Number of Stations 1 Number of Firemen and Officers 29 Police Protection: Number of Stations 1 Number of Policemen and Officers 38 Education Elementary Schools 7 High Schools 1 Municipal Water Department: Number of Consumers 5,646 Average Daily Consumption 2,742,033 gals. Miles of Water Main 70 Sewers Sanitary Sewers 65 Storm Sewers 46 Building Permits Issued 920 Recreation and Culture Number of Parks 131 Acres Number of Libraries 1 Number of Volumes (Approx.) 125,300 Employees Administration 25