The URL can be used to link to this page

Village CAFR For Year Ended April 30, 1988MMM(CUL REPOO mr 00 O O OO )OZERM00A �--ILL , o O .1 COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED APRIL 30, 1988 PREPARED BY GEORGE J. VALENTINE FINANCE DIRECTOR VILLAGE OF DEERFIELD, ILLINOIS .1 11 11 VILLAGE OF DEERFIELD, ILLINOIS COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED APRIL 30, 1988 Prepared by Finance Department George Valentine Director of Finance 1 1 1 1 1 1 1 TABLE OF CONTENTS PAGE INTRODUCTORY SECTION Principal Officials i Organizational Chart ii Certificate of Achievement for Excellence in Financial Reporting iii Letter of Transmittal iv-x FINANCIAL SECTION AUDITOR'S REPORT ON THE FINANCIAL STATEMENTS 1-2 GENERAL PURPOSE FINANCIAL STATEMENTS Combined Balance Sheet - All Fund Types and Account Groups 3 Combined Statement of Revenues, Expenditures, and Changes in Fund Balances - All Governmental and Fiduciary (Expendable Trust) Fund Types 4 Combined Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual - General, Special Revenue, and Debt Service Fund Types 5 Combined Statement of Revenues, Expenses, and Changes in Retained Earnings/Fund Balances - All Proprietary and Fiduciary (Pension Trust) Fund Types 6 Combined Statement of Changes in Financial Position All Proprietary and Fiduciary (Pension Trust) Fund Types 7 Notes to the Financial Statements 8-52 FINANCIAL STATEMENTS OF INDIVIDUAL FUNDS GOVERNMENTAL FUND TYPES GENERAL FUND General Fund Financial Statements Balance Sheet 53 Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 54 TABLE OFCONTENTS (CONT.) PAGE FINANCIAL SECTION (CONT.) GOVERNMENTAL FUND TYPES (CONT.) GENERAL FUND (CONT.) Supplemental Schedules Schedule of Revenues - Budget and Actual 55 Schedule of Expenditures - Budget and Actual 56-58 SPECIAL REVENUE FUNDS All Funds Financial Statements Combining Balance Sheet 59 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 60 Municipal Audit Fund Financial Statements Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 61 Emergency Services/Disaster Fund Financial Statements Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 62 Youth Bound Fund Financial Statements Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 63 Library Fund Financial Statements Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 64 Supplemental Schedules Schedule of Expenditures - Budget and Actual 65 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 Federal Revenue Sharing Fund Financial Statements Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Motor Fuel Tax Fund Financial Statements Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Transportation Fund Financial Statements Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual PAGE 66 67-71 72 73 74 75 76 TABLE OF CONTENTS (CONT.) PAGE FINANCIAL SECTION (CONT.) GOVERNMENTAL FUND TYPES (CONT.) DEBT SERVICE FUND Debt Service Fund Financial Statements Balance Sheet 77 Statement of Reveues, Expenditures, and Changes in Fund Balance - Budget and Actual 78 Supplemental Schedules Schedule of Expenditures - Budget and Actual 79 CAPITAL PROJECTS FUNDS All Funds Financial Statements Combining Balance Sheet 80 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 81 SPECIAL ASSESSMENT FUNDS Special Assessment Funds All Funds Financial Statements Combining Balance Sheet 82 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 83 PROPRIETARY FUND TYPES ENTERPRISE FUNDS All Funds Financial Statements Combining Balance Sheet 84 Combining Statement of Changes in Contributed Capital 85 Combining Statement of Revenues, Expenses, and Changes in Retained Earnings - Unreserved 86 Combining Statement of Changes in Financial Position 87 TABLE OF -CONTENTS (CONT. FINANCIAL SECTION (CONT.) PROPRIETARY FUND TYPES (CONT.) ENTERPRISE FUNDS (CONT.) 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 - Budget and Actual Schedule of Fixed Assets and Depreciation Sewerage Fund Financial Statements Balance Sheet Statement of Revenues, Expenses, and Changes in Retained Earnings - Unreserved - Budget and Actual Supplemental Schedules Schedule of Operating Expenses - Budget and Actual Schedule of Fixed Assets.and Depreciation Refuse Fund Financial Statements Balance Sheet Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual Commuter Parking Lot Fund Financial Statements Balance Sheet Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual Supplemental Schedules Schedule of Operating Expenses - Budget and Actual Schedule of Fixed Assets and Depreciation PAGE 88 89 90 91-93 94 95 96 98-99 100 101 102 103 104 105 106 TABLE OF CONTENTS (CONT.) PAGE FINANCIAL SECTION (CONT.) PROPRIETARY FUND TYPES (CONT.) INTERNAL SERVICE FUND Garage Fund Financial Statements Balance Sheet 107 Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual 108 Statement of Changes in. Financial Position 109 Supplemental Schedules Schedule of Operating Expenses - Budget and Actual 110 FIDUCIARY FUND TYPES TRUST AND AGENCY FUNDS All Funds Financial Statements Combining Balance Sheet 111 Statement of Revenues, Expenditures and Changes in Fund Balance (Expendable Trust) 112 Statement of Revenues, Expenses, and Changes in Fund Balance - Budget and Actual (Pension Trust Fund) 113 Statement of Changes in Financial Position (Pension Trust Fund) 114 Combining Statement of Changes in Assets and Liabilities (Agency Funds) 115 ACCOUNT GROUPS GENERAL FIXED ASSETS ACCOUNT GROUP Supplemental Schedules Schedule of General Fixed Assets 116 Schedule of General Fixed Assets - By Function and Activity 117 Schedule of Changes in General Fixed Assets - By Function and Activity 118 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 TABLE OF CONTENTS (CONT.) FINANCIAL SECTION (CONT.) ACCOUNTS GROUPS (CONT.) GENERAL LONG-TERM DEBT ACCOUNT GROUP Supplemental Schedules Schedule of General Long -Term Debt SUPPLEMENTARY DATA Required Supplementary Information Analysis of Funding Progress - Illinois Municipal Retirement - Police Pension Revenues by Source - Illinois Municipal Retirement Revenues by Source and Expenses by Type - Police Pension Long -Term Debt Requirements Sewerage Improvement Bond Series of 1973 Sewerage Treatment Facilities Bond Series of 1973 Corporate Purpose Bond Series of 1982 Corporate Purpose Bond Series of 1982-A Corporate Purpose Bond Series of 1983 Corporate Purpose Bond Series of 1987 Corporate Purpose Bond Series of 1986 Water Revenue Bond Series of 1960 Water Revenue Bond Series of 1959 Schedule of Officer's Deposits (Police Pension Fund) Schedule of Insurance in Force STATISTICAL SECTION General Governmental Expenditures by Function - Last Ten Fiscal Years General Governmental Revenues By Source - Last Ten Fiscal Years Property Tax Assessed Valuations, Rates, Extensions and Collections - Last Ten Fiscal Years Assessed and Estimated Actual Values of Taxable Property - Last Ten Fiscal Years PAGE 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 TABLE OF CONTENTS (CONT.) PAGE STATISTICAL SECTION (CONT.) Property Tax Rates - All Overlapping Governments - Last Ten Fiscal Years 139 Special Assessment Collections - Last Ten Fiscal Years 140 Ratio of Net General Bonded Debt to Assessed Value and Net Bonded Debt Per Capita - Last Ten Fiscal Years 141 Schedule of Legal Debt Margin 142 Schedule of Direct and Overlapping Debt 143 Ratio of Annual Debt Service Expenditures for General Bonded Debt to Total General Governmental Expenditures - Last Ten Fiscal Years 144 Schedule of Revenue Bond Coverage - Water and Sewer Bonds - Last Ten Fiscal Years 145 Demographic Statistics - Last Ten Fiscal Years 146 Property Value, Construction, and Bank Deposits - Last Ten Fiscal Years 147 Principal Taxpayers 148 Miscellaneous Statistics 149 � Introductory Section 1 u 1 1 1 1 1 1 1 1 1 1 t 1 1 1 1 i 1 1 VILLAGE OF DEERFIELD, ILLINOIS PRINCIPAL OFFICIALS APRIL 30, 1988 LEGISLATIVE VILLAGE BOARD OF TRUSTEES Bernard Forrest, President Harriet E. Rosenthal Edwin B. Seidman James L. Marovitz Vernon E. Swanson Cynthia J. Marty J. Robert York Naomi S. Clampitt, Clerk ADMINISTRATIVE Robert D. Franz, Village Manager FINANCE DEPARTMENT George H. Valentine,.Director of Finance/Treasurer i Cl) Z 0 } ut W �Z ¢ Q m0 J J 0 >Q U raF � � U I W mH CW7W m U J Z o- 2 2 0 '- Q > m o � Y C W W J U �~ W ,~ N Q N J � ¢ c3 0 1 YZ N ow z N w W Z Z .p.. LLA O 3 W w ¢ F- w¢ g¢ aC N ►-+ Z F-- w W z O �. , m 4J p Jf- `n N -� H Q -CC 3 a� C7 IujIuj Z W Z ~ M.uj ~ Z W I Q J Z f z p J Z J ON (J O = z W ►pr in W 2 CD z W U CD z CD Z �. �.. z W J w -� J C7 Z ~ Z N W Z m N •t Z W = o ¢ C 3 O ¢ W = �Ln tj F- -ct _ m ¢ H cN Z N Z O U J of ¢ C7 = F- Q U cm = g U 0. ¢ .� !- O Z CD4 0 a D_ N ?- LA J W W Q: NL.LJ � W O oC O ii 1 I 1 11 fl 11 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, 1987 A Certificate of Achievement for Excellence in Financial Reporting is presented by the Government Finance Officers Association of the United States and Canada to government units and public employee retirement systems whose comprehensive annual financial reports (CAFRs) achieve the highest standards in government accounting and financial reporting. M President Executive Director EERF.1E D1 850 WAUKEGAN ROAD November 15, 1988 Mr. Robert.Franz, Village Manager Village of Deerfield Deerfield, Illinois 60015 Dear Mr. Franz: 945.5000 ILLINOIS • DEERFIELD, ILLINOIS 60015 The Comprehensive Annual Financial Report of the Village of. Deerfield for the fiscal year ending April 30, 1988, is submitted herin. This report was prepared by the Village Finance Department. Responsibility for both the accuracy of the presented data and the completeness and fairness of the presentation, including all disclosures, rests with the Village. The organization and content of this report, including the financial statements, exhibits, and statistical tables, follow the standards for financial reporting recommended by the National Council on Governmental Accounting and its successor, the Governmental Accounting Standards Board. I believe that the data, as presented, is accurate in all material aspects, that. it is presented in a .manner designed to fairly set forth.the financial position and results of operations of the Village as measured by the financial activity of its various funds, and that all disclosures necessary to enable the reader to gain the maximum understanding of the Village's financial affairs have been included. Accounting System and Budgetary Control In developing and evaluating the consideration is given to the adequacy Village's accounting system, of internal accounting controls. Internal accounting controls are designed to provide reasonable, but not absolute, assurance regarding: (1) the safeguarding of assests against financial loss from unauthorized use or disposition, and (2) the reliability of financial records for preparing financial statements and maintaining accountability for assets. The concept. of reasonable assurance recognizes that: (1) the cost of a control should not exceed the benefits likely to be derived from it,. and (2) the evaluation of costs and benefits requires estimates and judgements by management. A11 internal control evaluations occur within the above framework. I believe that the Village's internal accounting controls adequately ' iv 1 ' safeguard assets and provide reasonable assurance of proper recording of financial transactions. ' Budgetary control is maintained at the departmental and subdeparmental level through a system of purchase orders and a monthly reporting system which reports actual versus.. estimated expenditures for the time period. The Reporting Entity and Its Services ' This report includes all of the funds and account groups of the Village. It also includes all activities considered to be part of (controlled by or dependent on) the Village, as determined by the application of the criteria set forth in "Defining the Governmental Reporting Entity - GASB ' Codification Section 2100". In accordance with GASB Codification Section 2100, for financial reporting purposes the Village's financial statements include all funds, account groups, boards, commissions and other organizations over departments, agencies, which Village officials exercise oversight responsibility. ' Oversight responsibility includes such aspects as appointment of governing body members, budget approval, approval of property tax levies, outstanding debt secured by Village full faith and credit or ' revenues, and responsibility for funding deficits. The Village considered the following entities when implementing GASB Codification Section 2100. Although these entities are similar in nomenclature and scope of public service, the criteria in GASB Codification Section 2100 dis not require the inclusion of these entities in the Village's financial statements as component units ' principally because the Village does not exercise any of the elements of oversight responsibility over such entities. Listed below are the entities that were considered: ' West Deerfield Township Highland Park Mosquito Abatement District Deerfield Park District Deerfield Bannockburn Fire Protection District Municipal Insurance Cooperative Agency (reported as a proprietary joint venture - Note 5) ' High -Level Excess Liability Pool (reported as a proprietary joint venture - Note 5) 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 administrative services. ' Separate reports and financial statements have been prepared for the Police Pension Board and the Public Library Board. These financial statements and reports are also contained within this report which combines all the funds under the Village's jurisdiction. v General Governmental Functions Revenues for. the General,:Special Revenue, and Debt Service Funds totaled $7,532,218. This is.an increase of 0.8% over 1987. Taxes produced 72.9% of general revenues compared to 63.4% last year. Of the amount listed as taxes, $2,761,433 was property. tax revenue. The prior property tax extension was $2,784,086 for a. decrease of 0.82%. Sales tax is also included in the general category of taxes in the amount of $1,788,844. This is an increase from the prior year (net of a one time adjustment in 1986-87) of 9%. The increase in miscellaneous revenues was primarily due to increased interest earnings. 1988 REVENUES Increase Percent (Decrease) Revenue Source Amount of Total from 1986 Taxes $5,491,917 72.9 $ 118,372 Licenses and Permits 380,65.1 5.0 (196,089) Intergovernmental 317,734 4.2 (28,686) Charges for Services 207,055 2.7 (21,149) Fines and Forfeits 240,598 3.3 (17,125) Miscellaneous 894,263 11.9 198,309 TOTAL $7,532,218 100.00 $ 53,632 The current year (1986) tax levy collections were approximately 100.5%. Property taxes which are delinquent more than one year are written off; subsequent collections of such taxes are reflected as 'prior year revenues' in the year collected. Allocation of property tax levy by purpose for 1987 and the preceding three years is as follows: Purpose General Fund Special Revenue Funds General Obligation Debt Pension Trust Funds Enterprise Funds 1987 1986 1985 1984 Tax. Rate* Tax Rate* Tax Rate* Tax Rate* .068 .117 .168 .183 .397 .459 .483 .446 .351 .414 .467 .232 .044 .064 .067 .062 .149 .156 .156 .151 TOTAL TAX RATE* 1.009 1.210 1.341 1.074 *Rate per $100 of equalized assessed valuation Expenditures for General, Special Revenue, and Debt Service Funds purposes totaled $7,433,332, an increase of 9.2% over the prior year. The increase in Debt Service Expenditures is due primarily to issuance cost of the new bond issue. vi `.1988 EXPENDITURES Increase Percent (Decrease) Revenue Source Amount of Total from 1987 General Government $1,246,347 16.8 $ 49,703 Public Safety 2,256,808 30.4 116,868 Highways & Streets 936,688 12.6 20,198 Culture and Recreation 891,812 12.0 85,940 Miscellaneous 364,665 4.9 9,932 Debt Service 1,737,012, 23.3 347,457 TOTAL $7,433,332 100.00 $630,098 Debt Administration The ratio of bonded debt to assessed valuation and the amount of bonded .debt per capita are useful indicators of the Village's debt position to municipal management, citizens, and investors. The data for the Village at the end of the 1987 fiscal year is as follows: Outstanding General Obligation Bonds By Issue Sewerage Improvement Bonds Series of 1973 $ 325,000 Sewerage Treatment Facility Bonds Series of 1973 675,000 Corporate Purpose Bond Series of 1982-A 300,000 Corporate Purpose Bond Series 1986 10,775,000 Corporate Purpose Bond Series 1987 10,000,000 TOTAL $2 2 ,07 5 ,000 Other Debt to be Abated from T.I.F. District #1 Corporate Purpose 1982 Bond Series of 1982 $ 425,000 Corporate Purpose 1983 Bond Series of 1983 125,000 TOTAL $ 550,000 GRAND TOTAL BONDED DEBT $22,625,000 Less: DEBT SERVICE FUNDS AND EXPENDABLE TRUST FUNDS 11,631,154 NET BONDED DEBT 10,993,846 Net Bonded Debt Net Bonded Debt Less Self Funded Amount $11,543,846 10,993,846 vii Ratio of Net Debt to Net Debt Assessed Value Per Capita 3.66% $659 3.49% $628 1 Moody's Investor Service upgraded the Village's General Obligation Debt t to Aa from A 1 on July 1, 198-2. This rating was last confirmed on October 12, 1988. ' Cash Management Cash temporarily idle during the year was invested in repurchase ' agreements (Library only), certificates of deposit, treasury bills, bonds and notes. Funds held for the Police Pension Fund are invested in treasury bonds and notes, treasury strip coupons. As of April 30, 1988, the total amount invested by the Village was 100.0% of available funds. , The total interest earnings for the year for all funds, including the pension funds, was $1,720,774. For the prior fiscal year, the total amount earned was $1,790,540. ' General Fixed Assets The General Fixed Assets of the Village are those fixeds assets used on ' the performance of general governmental functions, excluding the fixed assets of the Enterprise funds. As of April 30, 1988, the general fixed assets of the Village amounted to $5,295,105. This amount represents ' the original cost or estimated original cost of the assets and is considerably less than their present value. Depreciation of general fixed assets is not recognized in the Village's accounting system. , Enterprise Funds The Village's Water Fund had total operating revenues of $1,984,088 and , operating expenses of $1,753,907, or a total operating income before depreciation of $230,181. Revenue bond coverage for the year ending April 30, 1987, was 4.71. ' The Sewerage Fund has operating revenues of $1,070,821, operating ex- penses of $1,005,577 for an operating income before depreciation of ' $65,244. The Refuse Fund had operating revenues of $453,555 and operating expenses of $957,265, for an operating loss of $503,710. However, there was a property tax levy for $485,998 for refuse purposes. ' This revenue source and other revenues cover the operating loss. The Commuter Parking Lots' fund operating revenues were $91,181, with operating expenses of $23,182, for an operating income of $67,999. Prospects for the Future, Significant Activities ' and Local Economic Events The Village's Tax Incremental Financing District #1 was founded in June, , 1982, to facilitate growth and development in the Lake -Cook corridor portion of the Village, primarily the area known as the Brickyards. The ' district's increased equalized assessed valuation over its frozen cap has been: 1982 - $4,143,104; 1983 - $7,247,225; 1984 - $19,483,923; 1985 - $26,641,540; 1986 0 $31,010,143; 1987 - $40,260,189. This growth has been faster than had been anticipated. ' TIF District #2 was established in December, 1986, for the renovation of the Village Center. The increment district equalized assessed valuation thas been: 1986 - $770,480; 1987 - $2,278,213. The Village's commercial community has been rapidly expanding in the last several years shown by the: Calendar Year Commercial Building Permits 1984 $33,836,440 1985 36,217,107 1986 40,460,342 1987 31,990,577 1988 (Eight Months Only) 17,368,883 These projects are only now reaching completion and indicate that there ' will be significant increases in the Village's equalized assessed valuation for some years in the future. ' The Village has added a hotel tax to its revenue mix. The Village currently has three hotels in operation: Marriott Courtyard, 132 rooms completed in 12/86; The Hyatt Deerfield, 300 rooms completed in 12/87; ' The Embassy Suites, 237 Rooms completed also in 12/87. In addition, the Village has under construction a.128 room Residence Inn Hotel with an anticipated completion date of December, 1988. There is also a 3,000 square foot hotel proposed; however, construction has not yet begun. ' The hotel tax is a significant addition and will help diversify the financial revenue mix. The hotel tax is budgeted for $500,000 for the ' 1988-89 fiscal year and is tentatively budgeted for $7,000 in the 1989-90 fiscal year. These additional businesses and the. consumers which they bring into the ' Village add a vibrance to the existing Village's commercial activities and will have a positive effect on the Village's partial tax revenues. Fund Balance Designations The Village has established designations of General Fund fund balance ' for capital improvements as follows: Area improvements: Brickyards ($322,000). This designation is for the improvements to the area described as the Brickyards. ' Area improvements: Downtown ($1,200,000). These funds will be utilized to enable the Village to encourage development/redevelopment in the ' central business district. Independent Audit State statutes require an annual audit of the. books of account, fiscal records and .transactions of all administrative departments of the Village by independent certified public accountants selected by the Board of Trustees. This requirement has been complied with, and the auditor's opinion has been included in this report. Certificate of Achievement for Excellence in Financial Reporting The Government Finance Officers Association of the United States and Canada (GFOA) awards a Certificate of Achievement for Excellence in Financial Reporting to units of government for the comprehensiveness of its financial report. In order to be awarded a Certificate of Achievement for Excellence in Financial Reporting, a governmental unit must publish an easily readable and efficiently organized ..comprehensive annual financial report, whose contents conform to program stadards. Such reports must satisfy both generally accepted accounting principles and applicable legal require- ments. The Village was first: awarded a Certificate of Achievement for Excellence in Financial Reporting for its April 30, 1984, report, and was also awarded the Certificate for the April 30, 1985, report and its April 30, 1986, report, and the April 30, 1987, report. I believe our current report substantially conforms to Certificate of .Conformance Program requirements. We are submitting this report to GFOA to deter- mine its continuing eligiblity for a certificate. Acknowledgements The preparation of this report on a timely basis could not be accomplished without the efficient and dedicated services of the entire staff of the Finance Department. I would like to express my appreciation to all members of the department who assisted and contributed to its preparation. I would also like to thank the president and members of the Board of Trustees for their interest and support in planning and conducting the financial operations of the Village in a responsible and progressive manner. Res ectfully submitted, George. Valentine Finance Director Village of Deerfield x I I . Financial Section .1 I 11 AUDITOR'S OPINION ' Certified Public Accountants ' The Honorable Bernard Forrest, Mayor Members of the Board of Trustees Village of Deerfield, Deerfield, Illinois We have examined the general purpose Village.of Deerfield,_ Illinois and the account group financial statements of ' year ended April 30, 1988 as listed i examination was made in accordance wi standards and, accordingly, included L 1 financialstatements of the combining, individual fund, and the Village as .-of and for the n the table of contents. Our th generally accepted auditing such tests of the accounting records and such other auditing procedures as we in the circumstances. considered necessary In our opinion, the general purpose financial statements referred to above, present fairly the financial position of the Village of Deerfield, Illinois at April 30, 1988, and the results of its operations and the changes in financial position of its proprietary fund types and similar trust funds for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year. Also, in our opinion, the combining, individual fund, and account group financial statements referred to above, present fairly the financial position of the individual funds and account groups of the Village of Deerfield, Illinois at April 30, 1988, and the results of operations of such funds and the changes in financial position of individual proprietary funds and similar trust funds for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that of'the preceding year. Bank of Wheaton Building • 211 South Wheaton Avenue • Wheaton, Illinois 60187 • (312) 665-4510 L_ J 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 2 Our examination 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 in the table of contents is presented for purposes of additional analysis and is not a required.part of the general purpose financial statements of the Village of Deerfield, Illinois: . The information has .been subjected to the auditing procedures applied in the examination of the combined, combining, individual fund, and account group financial statements and, in our.opinion, is fairly stated in all material respects in relation to the general.pur.pose financial statements taken as a whole. The statistical information listed .in the Table. of Contents was not examined by us and accordingly, we do not express an opinion thereon. �< a x✓ Karrison & Byrne September 8, 1988 �] L- 7-1 GENERAL PURPOSE FINANCIAL STATEMENTS VILLAGE OF DEERFIELD, ILLINOIS ALL FUND TYPES AND ACCOUNT GROUPS COMBINED BALANCE SHEET APRIL 30, 1988 (See Following Page) H M It 1 fD y �' � � o m ry � °• p � � 1�6 �' ai � � H OQ o'�y o • g F m P C V I u3 N � N SD y M l� W O� F N W F F F NN •IJ 0o �••' O' W F W 0o ON O, R VWi V 00 O NO In ��Dp VI N N W N N l� '-4 N U1 r �D V � tWtaa N N W � ON ' O (NWT W pp p V r.• N ram+ V O O 00 W (n N ' V 8 V W O 00 in {n F �O F lOn In � In ' F N W � N Vpp oVo pp V r r+ NNF `r OD W pD' �D O F F F W p F ' In V to Ili n N Q CoW W O O+ u+ W W Ut OW 00 � ram-• CD to � r. o W W OD �V�pp F ' Z W � Ln NN O .�-• 10 18n W W F p� O+ N W rV-. 1n R WcaIn110t4° V 00 N N p4, 0% V W +O ip F -,p V( j N OVO O� 4- V OD F v b F �p o O O� F N r'• O ppp� to F 'S O VVi OO N00+�3FRN WQ O� OVD p� D O O Oa` V Ol O , O WIn 10 W 10 O S� N O fFD� �y fpa'�f N 1� ~Od O~N .7^ �- pO 0^08t�'1 ppp .pp pp �N1 Pi � Op - �01p� p 8 V ^ N ^ O� .� I° -c O Lr P N O1 °� O O c � cl .0 7 �D �7 opp ( 1� M pp 1.�7 L/1 O N 1, O� �/1 ppp .7 A� �7^ NCO NRn MO IDO``O�O � 00 �On O O v1 lcc'l1 O �O N V1 N d Cl) cn '� „Ny ON N M W t!1 v1 pppp f�1 ^+ �7 1� pppp Q� pp p QO E 4 lO r� ^ N ,.y r� [} W 8 I- u1 O O --, N c!1 N 8 c•1 .-� 3 8 1� N CO Nl CO Ili Vi N O ID. O ✓1 �!1 .1 •-� t� N O� .r V� O O 1� vl �O J cly O �O ^O^ �O V 'r vl O L/1 p7p�� pNppp N �7 O c'�1 O, ' v ol N �p �Zo P4 �� n N �O�O l° co V1�� n n �O cV GO cn -T °, N cV c 1 Q N L� 6 w v� 1 Cl QJ N N U"l Ln t+1 O�O-� V^ n �O 7 ��Fyy Lo Ln c0 COO O O cO�1 i pppp i�p p p CC u N Iq N J �O cYj cc�++�1 /01 cc1 pppp N F-H cn H c�1 °� ..c cco v v cn .7 N t4 G n c�c�co Z d D c+1 N ^en cn N -i .--� N co co N �-� �i M On0 1� O •-� •-� a0 W CO d .7 N �p �p^p ��pp l N O p Op O O --i �q N l I8I co N N r% }p1 CCC111 a l? Vi Ci cn Nn �j n c0 c0 co co Ci 84wm- oN ctVS o5i5i p M N cn cn cn cn ' C 7 N ' a co N {❑y� & C Hl+ F F a [� 3 4 O OOJN�� ON �OON M .r v1 LnJOOJ M nl A ^J 1�J .O C�J aD ^'tom Obp ISM N p0 W J OO.t N �-.O m�D �O wnn %D 1O m'D'n .r b0 OO co co N O, OO O� N N O 10 O G lc LnM V1 �O ••• .-+ O� 00 �'"� �O n A C� lD O O O 00 O 10 00 ON O 1� .--i p •--� N N .� O O� v .r 'D J v J M m la �a 'O u G O N F N 01.--�J v1001�J n00O NMT O�y009 n NNM _ _ O M J M T 00'O JpaO A v1 ONco 00 lD 1p� On .--1 O, M O1 n a b0 f`ONn^O �"' OD �D W �O OO 00 J O 00 J J v1 O vl O N N lD v O� o c; r. r. OJ rn � Ic FDA.--r J J M MO� M N .+ OD N A .r %D 10 b0 O OD N 00 oo Le) N M M N N O, J ~ N N 00M�D N~ MMMJ � O co p M 00^ O U l mO OIL N O. O ti 00 .ti .r .� N ID N' a v> .i A bi +, O O p C N XF M u'1 O W J J d .N7 L - O N N N N M M O H m „ N N toM M 1 M I c D m M M N to d cew�j m 4o N W v1 o, N O% M N O L+'1 O �n Ln 1, aD � .-1 L y P C O M O N J J �-+ 1- M H h4 OD q H '0 aa0 o oo ao ^ JJi ,� M Ln J co o J lO O, Ln lD J QD lD �? N LA 7. to OC'i m U a �p J lc �D t` C N " T � N M lD lO M N N v M O O n vi ada a c Wa A O J 00 N M O M O M O J J w w a C .� U O N N O, M N O N 00 OD O 1l O n �p J IQ Ln O O� O O t\ J �a'1 O O� O� O� .-� P4 Z w CA Fa O+ NN MO�n O N a0 00 O O O .r Fa+ ~ z fi y •r •� M h M n J N C Ol U1 O O �D O W W G W 3+ F z z w » o Q ta7 U F W F 7. F f0 7 .^-� ~ M M J 1, N J 00 N M M 00 %o ON t.. M O L/1 Ln Lnh 6 vd C U a IC o v1 .--i M ID 00 O% N O O O a0 ON N ^� N D+ v1 as N .r OD (Ar� O w a > CL a 00 lD lo M �o .r Op �r N •-� O Moo bo M .--� N co .r O� O Z Y-i lD Op M ON .-y �O v .-� M .ti ti oD co co O% O N N N N U t -, rl J N M m 00 n Im I n J ti N t\ u1 W J .r .r uy m N O � O� O n ✓1 O J O, T O, 00 p a w J J J M J Op �O b0 N J ti M M Ln y ON •-� M O w It�O J . -� 1 �D N r U co J O 00 N N lD O N C% O V1 Ln M N d In M O O J as M M to N 1+ H u a b G Iv o C m a m a a a U t0 � W C 'd 7 m p a w ub a0 > a N~ u O ,,CU ax m .Oi a a a0 w 04 w w a ww O +a L Gr-1 a m mHup u m m u a m a ca N W a a oa W w> ,C C C co u{ a r.oC 6 '� H u a s gggCa u u 9 U y " fOi O a O m g 7 N y O O O iy a0 E a u to a a w a+ .w w C �,w a O 0 w 4 W m T W C E. o z W C w 7 >,N a a+ V 7 T a -C a C ,a w N C C t11 N U U G 0 T T �' b0 a t�i N m G 'C > a C O O cO ca G G. a 7 bO W al C0 W W 7 H G 8 O y a w O w CO C a .-1 a t0 Ca H m 0 C Fa t+ H C H O m cc t+ O a N m U to m ro COCN •-4 CO u W ..ul {a+ N H H F rl o U A uH 0 U y a 1. v W C awV CW C a H Ta-a > 0.m .-I w y M G b0 bo O 4y u W �+ y W U c0 m> co a O m ad rl .'a o O U tti M rl N 7 N M H 3 y a ri a U al atl U H ++ a a u C A H '�-� C vCi •rCj N u (3 A x H m m b0 a H ro a m ++ u C a -I S u U m to G a a 0 'O U H ++ u N❑ a v u, .-4 7 7 M O C bo m a u w C U m E •'I a G A bO -4 m u 0 4 a C H C "1 .-i L H u x E. 14 C u C G N a bl w �tl m N t-i t+ a a� b a m 0 N co ~� N � U U SC +� C a m U' 0+ = U = C. A c, h1 0 m p, C Fa a s C a' m 'c7 D. >, m m 1a ,y a H a s a s U a k 1 c>w u Cc a ac�a a aF.��Eiw wc� kww a w o lu 5 W W a w tao F "J" d co z 00 W F . DC C0 W cn pq En W 1 w w 6 04 W L] FO PQ pw W a W w P•I F H F rn W PG In u O In w N W ,p7U� O 6 U v1 00 M CD T M M tP1 O� �D G p In N N O C . ti O 1 n O J N L M M — O J M M 7 d J e• 1 M N N 0 0 I/ 1 O C V) n H p> 9 i. M p O p O O (n J p M p O O n Aj c+�OJofOInr m 0) r-1 00 N J t` M N 00 O ca ODMN MO LI 7 PO MMMNNlON F M r` e? n 0000N V1 OJ 00N 10 n NM O V1 J p 00 ..-i 'D O N 00 M _ 00 O O •� M O0 11 00 11 C 0i O M 00 N p 1/1 O r 10 10 ID J Ln O •••1 M 00 10000 O O, J vn M %D N O— M C, 00 M O O% N N 0% 00 M 00 In O, M J M n O O N n v O O •-� v u'1 C,3 I'll cqMLf)O,O ON IM O 11 w 0 O N O J O n N N O M 'D J M M �D I. Lm m N O% %D N V1 O O 00 v I� M M O T �"� I e 1 M %D J M - M r N I^ M O B O N OD N O N N M N �D m 10 W% O O� N N N O .r en .+ — M v1 O, M I- V). t D O (D N O 10 N a) a+ A 0o O 00 OU0 M O M C7 00 N g N w t/Y M 00--1 O� oIN 01 C 00 10 %D M 10 y u I OD n N O > N r4 m 0 0 0 O 2 I •') N Aj d O M O O n O J m00 wO^.I O\ Mw ti M-I 7 LO - Ln .Mr M (n �+ N N J N M O% co n M O,O�O JLm OJ 7 'D J ^• 1 M 0 0 0 .1 1-I O N co J J O cd 0 0 N N p 0 ca N J ima a) G W O O O O p 0 0 0 N a) O O O O O 0101 Op OJ OJIA0O •tl 7 OI J N O� N �O v! N N M N 1 D Ki NfAl M M O M O M J L' O O, O N 00 O O .r N M O %D J N 1` O O, O N N O O O O N N J J J N N u'f tb V1 N N Ln .•r v N N J coN Ln .OI n On M M 00 'D N 00 O� M %D OD %C J O IPI 'D ••-1 J 00 M .••I N co O� 00 lei N CD O N c, (D M CD O O In 11n C Oi O O O w) In N N O IA 1\ •••I '•I N N O, 'D O II.1 %D �D •� N .n J n N J O In .07 M J 00 �D 00 N J N P. J LnvNr N N J Ie1 ^+ Nen M In N n n O O In 0 ^e' J O O N .^y 00 co v M M f\ N M GO H v 0m0 7 u m O H C O a) H •O C > u a p aA aJ C •-1 m W m m M 8 o C H W m +� a) m m m H W a) :: a) CC O ru v G a) y p U 7 O •D — u m m w 9 > 14C N uUW H M M �+ m m 7 N y O y tz m u w CO CO y a+ a C w 7 a) u •o ew lii O0)C ma xW •OG ya OC u7 HO m IGa •o H Wo> UyCF FGm Mmoo WUm OC 0 0C b •1 m H 0 a) ar m In m m ...1 m u O a) w O C RS N rl A a) ^ 1 D GL m -1 w a) OO G 00 CO O u u m> C m H m U m H .-1 Hy H N m Cm O m 10 r4 Cd j a.I H• 4 3 7 u (A F aa)) aH) O Q W U .,G4 N aM.l �m C Oe) Omia m y u •ui N F o =00.4 m -H u X F C rs m m H aa�� •ad G X u Aj m G m E. C H I a m U Z a w M O m a) G H a) Q! G N > mM Ct•�+1 od W >Fa.+ w oc� r K ow Looua W O J O J O � Illl V1 . cn 10 VJ1 N O J J C O ti Ln 00 M Ie1 O �D df O O C Ln v N O Ln Yt N O, -1 N lel 00 O� O �D 00 00 ••1 aD O� N N yd N ri VMLAGE OF DEERFIE[D, ILLINOIS ALL PROPRIETARY AMID FIDUCIARY (PENSION TRUST) FUND TYPES OPINED SMnMN OF REVENOFS, EXPEMS, AND ($HMIGES IN RE ATNF'f) FAR MUS - UNRESERVED/FM BALANCE FOR THE YEAR:ENDED APRIL 30, 1988 Proprietary Fiduciary Fund Types Fund Types Totals Internal Pension (Memorandum Only) Enterprise Service Trust 1988 1987 Operating Revenues Taxes $ 150,024 $ 150,024 $ 180,434 Charges for Services $3,523,025 $151,354 3,674,379 3,498,455 Contributions 107,902 107,902 99,923 Miscellaneous 76,620 473,397 550,017 572,001 Total Operating Revenues 3,599,645 151,354. 731,323 4,482,322 4,350,813 Operating Expenses Administration Operations Depredation Benefits and Refunds Miscellaneous Total Operating Expenses Operating Income (Loss) Nanoperating Revenues (Expenses) Interest Income Property Taxes Interest Expense Net Income (Loss) before Operating Transfers Operating Itansfers In Operating Transfers (Out) Net Income (Loss) Other Changes in Retained Earnings - Unreserved/Fund Balance Depreciation that Reduces Contributed Capital Net Increase (Decrease) in Retained Earnings/Find Balance Retained Earnings - Unreserved/ Flund Balance May 1 April 30 316,636 316,636 312,189 3,423,295 176,351 3,599,646 3,157,864 386,448 386,448 298,505 ° 87,859 87,859 100,935 53 53 99 4,126,379 176,351 87,912 4,390,642 3,869,592 (526,734) (24,997) 643,411 91,680 481,221 135,047 135,047 107,256 485,998 485,998 424,717 (3,825) (3,825) (5,738) 617,220 - - 617,220 526,235 90,486 (24,997) 643,411 708,900 1,007,456 900 (20,000) (20,000) (20,000) (20,000) - - (20,000) (19,100) 70,486 (24,997) 643,411 688,900 988,356 301,500 - - 301,500 212,000 371,986 (24,997) 643,411 990,400 1,200,356 3,655,529 (8,305) 4,411,629 8,058,853 6,858,497 $4,027,515 $(33,302) $5,055,040 $9,049,253 $8,058,853 See accompanying Notes to the Financial Statements. 1/ W Ei H E-4 A H z w a E-F 1-4 Cn (n H oa z HH z ao w H H rn z z H Aa a cn w� w H V' �+ >-t z A U U fs+ A O O w w z t4 z ' a � w a E� cn w A ood z a H w o U a w 00 rn O M a H oG w A w A z W OG W >4 w x E4 oG O 44 N tr1 ^ O% a' %r) r- 00 "o a0 M 00 n '-+ -4 N N p N -- M to 00 It %D �D tr) .. 011 It 01% ON O N CO) �D O% t\ 00I M 00 M M --4 ON N M 00 trl tr1 00 (71% ^-4 aN--4-4•4c")O�%D NONtr1 N-t-t N O N 1-4 O N M N %D -4 c � , ca C u 'O O C F•+ co r\ 00 trn r- O r- ON r- 00 -.4 tr1 O -4 00 N O 1+ ON 't 't tr1 P, �t .-i ON --4 N M O n 00 M O 00 .t M %D trl M rn rn ON -4 -.4 0-4 r r- 00 CN I ••-� 00 O N -4 00 N N n -4 It %D try N OD . .--i r-- M •--c O N -4 .--c M 00 O 00 ,••� � to � � �D � � y . i t` 00 �D ID N -4 en t 1.D -4r1 O O 10 n CO) >+ O a� �t �t O �t %D M c0 �4 CO) •4 E•c rb 7 M M tri O` u C' 't N 10 n M cG a F `D •D .D %D 00 :1. c� yr -4 N N r- M O 00 O 00 0 a) N N ON O� OIN %-D O %D C u ON O O O N N W •,4 (1) > N r: p r\ u 1+ N N >1 w L W E 4 .4 w b a! .D 00 It 00 rr O+ to • rn C) to .-•+ to C• C O It cvl It It N N N N O rl- Ln •--I %D O C r1 -t 7 O% tr) m 00 00 •-+ r- O �D -- tr) %D w P4 M O lD N lD tr1 tr1 p r- O tr) 00 to r- •-4 M -.t rn —4 a) M d O trn --i -+ M N 00 •--4 a� E a) a.t co L co u ca m C L � a) • 4 a) w:-4 •4 n C u • 4 +-+ y a) a) A M . 4 a Co cv A-)rn —4W O x c L -4 „ w .a a) v rA a .-+ .. co co �.. L Lt L O y a1 • rl G. y C 0 a •' r copo u U n C sO+ u �t C $A C z 'b a) w a) 00 b O ++ U U w E-+ O w a) w a A C •.c a) z ro b, t -4 w k w .. w -4 E •14 C C O C O4-1 C• r+ :1 aJ >, O m 0 .� u • 4• 4• 4 O a) Ca 0 U Lx+ U C a Yc C u u a) w U m s+ to co > � P+ O C co L a) a) a) O a) O a) a) a) co H p H co a 0 w a .-t a s w m V v M u, u a) co m co 0 O co co c0 a) 1+ O co co L V A a) a) W 41 co a) X a) $4 U C -+ - 3 s+ a) b >J w O •-+ 3 b a) s+ u w -4 C co �+ a) z u u• 4 a c z u W u u H >, �, CO w co c C G O a) a) .0 co C. cno AH 04U (nw H a Ax 4+ mz d a) cl co w Ca 0 U z U cn 1. VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1988 Summary of Significant Accounting Policies The accounting policies of the Village of Deerfield, Illinois conform to generally accepted accounting principles as applicable to governments. The following is a summary of the more significant policies. A. Reporting Entity and Its Services This report includes all of the funds and account groups of the Village. It also includes all activities considered to be part of (controlled by or dependent on) the Village, as determined by the application of the criteria set forth in "Defining the Governmental Reporting Entity - GASB Codifica- tion Section 2100". In accordance with GASB Codification Section 2100, for financial reporting purposes the Village's financial statements include all funds, account groups, departments, agencies, boards, commissions and other organizations over which Village officials exercise oversight responsibility. Oversight responsibility includes such aspects as appointment of governing body members, budget approval, approval of property tax levies, outstanding debt secured by Village full faith and credit or revenues, responsibility for funding deficits. The Village considered the following entities when implementing GASB Codification Section 2100: West Deerfield Township Highland Park Mosquito Abatement District Deerfield Park District Deerfield Bannockburn Fire Protection District Although these entities may operate within the Village's boundaries, and are similar in nomenclature and scope of public service, the criteria in GASB Codification Section 2100 did not require inclusion of these entities in the Village's financial statements as component units because they have their own oversight boards, their expenditures are financed from sources other than the Village, and the Village has no obligation for their debts. High -Level Excess Liability Pool (HELP) HELP is a joint venture established to provide excess liability cover- age for its member municipalities. Management consists of a Board of Directors comprised of one representative from each member. The 1 �1 9 ' VILLAGE OF DEERFIELD, �ItLINOIS NOTES TO THE FINANCIAL STATEMENTS ' APRIL 30, 1988 1 1. Summary of Significant Accounting Policies (Cont.) ' A. Reporting Entity and Its Services (Cont.) High -Level Excess Liability Pool (HELP) (Cont.) Village 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 (Note 5). ' Municipal Insurance Cooperative Agency (MICA) MICA is a proprietary joint venture established to manage and fund first party property losses, third party liability claims, workmen's compensation claims and public officials' liability ,claims for its members municipalties. Management consists of a Board of Directors comprised of one representative from each member. The Village does not excercise any control over the activities of the agency beyond its representation on the Board of Directors. MICA is reported as a proprietary joint venture (Note 5). 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. Basis of Presentation - Fund Accounting The accounts of the Village are organized on the basis of funds and account ' groups, each of which is considered a separate accounting entity. The operations of each fund are accounted for with a separate set of self - balancing accounts that comprise its assets, liabilities, fund equity, revenues, and expenditures, or expenses, as appropriate. Government resources are allocated to and accounted for in individual funds based upon the purposes for which they are to be spent and the means by which spending activities are controlled. The various funds are grouped, in the financial ' statements in this report, into generic fund types and broad fund categories as follows: GOVERNMENTAL FUNDS General Fund The General Fund is the general operating fund of the Village. It is used to account for all financial resources except those required to be accounted for in another fund. Special Revenue Funds - Special Revenue Funds are used to account for the proceeds of specific revenue sources (other than special assessments or ' major capital projects) that are legally restricted to expenditures for specified purposes. 10 1. VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1988 Summary of Significant Accounting Policies (Cont.) B. Basis of Presentation - Fund Accounting (Cont.) GOVERNMENTAL FUNDS (CONT.) Debt Service Fund - Debt Service Funds are used to account for the accumulation of resources for, and the payment of, general long-term debt principal, interest, and related costs. The Debt Service Fund has been treated as a single fund and budgeted in a like manner by the Village. Capital Projects Funds - Capital Projects Funds are used to account for financial resources to be used for the acquisition or construction of major capital facilities (other than those financed by Proprietary Funds, Special Assessment Funds, and Trust Funds). Special Assessment Funds - Special Assessment Funds are used to account for the financing of public improvements or services deemed to benefit the properties against which special assessments are levied. PROPRIETARY FUNDS Enterprise Funds - Enterprise Funds are used to account for operations (a) that are financed and operated in a manner similar to private business enterprises - where the intent of the governing body is that the costs (expenses, including depreciation) of providing goods or services to the general public on a continuing basis be financed or recovered primarily through user charges; or (b) where the governing body has decided that periodic determination of revenues earned, expenses incurred, and/or net income is appropriate for capital maintenance, public policy, management control, accountability, or other purposes. Internal Service Funds - Internal Service Funds are used to account for the financing of goods or services provided by one department or agency to ' other departments or agencies of the Village, or to other governments, on a cost -reimbursement basis. FIDUCIARY FUNDS , Trust and Agency Funds - Trust and Agency Funds are used to account for ' assets held by the Village in a trustee capacity or as an agent for individuals, private organizations, other governments, and/or other funds. These include Pension Trust, and Agency Funds. Pension Trust Funds are accounted for in essentially the same manner as proprietary funds since ' capital maintenance is critical. Agency Funds are custodial in nature (assets equal liabilities) and do not involve measurement of results of operations. I 1 11 VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS ' APRIL 30, 1988 Summary of Significant Accounting Policies (Cont.) B. Basis of Presentation - Fund Accounting (Cont.) ACCOUNT GROUPS General Fixed Assets Account Group - The General Fixed Assets Account Group is used to account for all fixed assets which are not accounted for ,in Enterprise, Internal Service, or Trust Funds. ' General Long -Term Debt Account Group - The General Long -Term Debt Account Group is used to account for all long-term debt not accounted for in: Special Assessment, Enterprise, Internal Service, or Trust Funds. ' C. Basis of Accounting ' Basis of accounting refers to when revenues and expenditures or expenses are recognized in the accounts and reported in the financial statements. Basis of accounting relates to the timing of the measurements made, regardless of the measurement focus applied. All Governmental Funds are accounted for using the modified accrual basis of accounting. Their revenues are recognized when they become measurable and available as net current assets. The Village's share of State -assessed income taxes, gross receipts, and sales taxes are considered "measurable" when in the hands of intermediary collecting governments and are recognized as revenue at that time. Anticipated refunds of such taxes are recorded as liabilities and reductions of revenue when they are measurable and their validity seems certain. Revenues considered to be susceptible to accrual are: Taxes Intergovernmental Revenues Property Motor Fuel Tax Allotments ' Sales Income Expenditures are generally recognized under the modified accrual basis of ' accounting when the related fund liability is incurred. All Proprietary Funds and Pension Trust Funds are accounted for using the ' accrual basis of accounting. Their revenues are recognized when they are earned, and their expenses are recognized when they are incurred. Unbilled Waterworks and Sewerage Fund utility service receivables are recorded at year end. Agency Fund assets and liabilities are accounted for on the modified accrual basis. 12 ' VILLAGE OF DEERFIELD. ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1988 1. Summary of Significant Accounting Policies (Cont.) D. Budgets and Budgetary Accounting The Village follows these procedures in establishing the budgetary data reflected .in the financial statements: 1. The Village Manager submits to the Board of Trustees a proposed operating budget for the. fiscal year commencing the following May 1. The operating budget includes proposed expenditures and the means of financing them. 2. Budget.hearings are conducted. 3.. The budget is legally enacted through passage of an ordinance. 4. The budget may be amended by the Board of Trustees. 5. Budgets are adopted on a basis consistent with generally accepted accounting principles (GAAP). The level of control (level at which expenditures may not exceed budget) is the Fund. Budget lapses at year end. The Village passed a Budget Amendment and the amended budget has been included in the financial statements. Encumbrance accounting, under which purchase orders, contracts, and other commitments for the expenditure of monies are recorded in order to reserve that portion of the applicable appropriation, is employed. Encumbrances outstanding at year end, if any, are reported as reservations of fund balances since they do not constitute expenditures or liabilities. There were no material encumbrances outstanding at April 30. The following funds adopt annual operating budgets: Fund General Special Revenue Municipal Audit Emergency Services/Disaster Youth Bound Library Street and Bridge Illinois Municipal Retirement Public Benefit Federal Revenue Sharing Budgetary Basis of Accounting Modified Accrual Modified Accrual Modified Accrual Modified Accrual Modified Accrual Modified Accrual Modified Accrual Modified Accrual Modified Accrual 1 1 13 1 1 I VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1988 1. Summary of Significant Accounting Policies (Cont.) D. Budgets and Budgetary Accounting (Cont.) 5. (Cont.) Fund Special Revenue (Cont.) Motor Fuel Tax Transportation Debt Service Debt Service Enterprise Water Sewerage Refuse Commuter Parking Lot Internal Service Garage Trust Police Pension E. Assets, Liabilities, and Fund Equity Investments Budgetary Basis of Accounting Modified Accrual Modified Accrual Modified Accrual Accrual Accrual Accrual Accrual Accrual Accrual Investments are stated at cost or amortized cost, which approximates market, except for the Deferred Compensation Plan Fund investments which are stated at market value. Inventory Inventory is valued at the lower of cost (first -in, first -out) or market. Inventory is recorded on the basis of a physical count. Fixed Assets and Long -Term Liabilities The accounting and reporting treatment applied to the fixed assets and long-term liabilities associated with a fund are determined by its measurement focus. All Governmental Funds are accounted for on a spending or "financial flow" measurement focus. This means that only current assets and current liabilities are generally included on their balance sheets. Their reported fund balance (net current assets) is considered a measure of "available spendable resources." Governmental fund operating statements 14 VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1988 Summary of Significant Accounting Policies (Cont.) E. Assets, Liabilities, and Fund Equity (Cont.) Fixed Assets and Long -Term Liabilities (Cont.) present increases (revenues and other financing sources) and decreases (expenditures and other financing uses) in net current assets. Accordingly, they are said to present a summary of sources and uses of "available spendable resources" during a period. Fixed: assets used in governmental fund type operations (general fixed assets) are accounted for in the General Fixed Assets Account Group, rather than in governmental funds. Public domain ("infrastructure") general fixed assets consisting of certain improvements other than buildings, including roads, bridges, curbs and gutters, streets and sidewalks, drainage systems, and lighting systems, are not capitalized along with other general fixed assets. No depreciation has been provided on general fixed assets. All fixed assets are valued at historical cost or estimated historical cost if actual historical cost is not available. Donated fixed assets are valued at their estimated fair market value on the date donated. Long-term liabilities expected to be financed from governmental funds are accounted for in the General Long -Term Debt Account Group, not in the governmental funds. The single exception to this general rule is for special assessment bonds, which are accounted for in Special Assessment Funds. The two account groups are not "funds." They are concerned only with the measurement of financial position. They are not involved with measurement of results of operations. Because of their spending measurement focus, expenditure recognition for governmental fund types is limited to exclude amounts represented by noncurrent liabilities. Since they do not affect net current assets, such long-term amounts are not recognized as governmental fund type expenditures or fund liabilities. They are instead reported as liabilities in the General Long -Term Debt Account Group. All Proprietary Funds and Pension Trust Funds are accounted for on a cost of services or "capital maintenance" measurement focus. This means that all assets and all liabilities (whether current or noncurrent) associated with their activity are included on their balance sheets. Their reported fund equity (net total assets) is segregated into contributed capital and retained earnings components. Proprietary fund type operating statements present increases (revenues) and decreases (expenses) in net total assets. 1 1.5 1 1 1� 1 VILLAGE OF DEERFIELD. ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1988 1. Summary of Significant Accounting Policies (Cont.) E. Assets, Liabilities, and Fund Equity (Cont.) Fixed Assets and Long -Term Liabilities (Cont.) Depreciation of all exhaustible fixed assets used by proprietary funds is charged as an expense against their operations. Accumulated depreciation is reported on proprietary fund balance sheets. Depreciation has been provided over the estimated useful -lives using the straight line method. The estimated useful lives are as follows: Parking Lot Improvements 20 years Water Systems 40 years Equipment 5-10 years F. Revenues, Expenditures, and Expenses Property Tax Revenue Recognition 1987 property taxes attach as an enforceable lien on January 1, 1987. They are levied in September of the subsequent fiscal year (by passage of a Tax Levy Ordinance). Tax bills are prepared by the County and issued on or about April 30, 1988, and are payable in two installments, on or ,about April 1, 1988 and on or about September 1, 1988. The County collects such taxes and remits them periodically. Governmental fund property tax revenues are recognized when they become both measurable and available, in accordance with GASB Codification Section P70. The 1987 tax levy has been treated as deferred revenue since it is intended to finance the subsequent year's expenditures. Current year's operating statements recognize 1986 tax levy revenues which finance the current year's expenditures. Fiduciary (Pension Trust) funds recognize 1987 tax levy revenues (accrual basis). Property taxes receivable which are delinquent more than one year have been written off; subsequent collections of such taxes are reflected as "property taxes - prior" revenue in the period received. Accumulated Unpaid Compensated Absences Village employees are granted vacation pay and sick leave in varying amounts. The Village has calculated the following amounts with respect to 16 VILLAGE OF DEERFIELD, ILLINOIS I NOTES TO THE FINANCIAL STATEMENTS ' APRIL 30, 1988 1. Summary of Significant Accounting Policies (Cont.) ., F. Revenues, Expenditures, and Expenses (Cont.) , Accumulated Unpaid Compensated Absences (Cont.) accrued vacation pay and sick leave at April 30: ' Fund General $259,222 ' Special Revenue Street and Bridge 7,773 ' Enterprise Water 5,992 , Sewerage 27,030 .Internal Service Garage 9,255 ' Total $309,272 ' Accumulated unpaid compensated absences are reflected in the financial statements in accordance with GASB Codification Section C60 and SFAS 43 provisions. Such amounts are accrued when incurred in proprietary funds ' (using the accrual basis of accounting). Such amounts (current portion) are accrued in governmental funds (using the modified accrual basis of accounting). The amounts are all considered current by the Village. ' G. Financial Reporting 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 Village's financial position and operations. Comparative total data for the prior year have been restated as necessary in order to provide consistency for comparison purposes. However, comparative (i.e., ' presentation of. prior year totals by fund type) data have not been presented in each of the statements since their inclusion would make the statements unduly complex and difficult to read. Total Columns on General Purpose Financial Statements 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 17 VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS ' APRIL 30, 1988 ' 1. Summary of Significant Accounting Policies (Cont'.) G. Financial Reporting (Cont.) ' Total Columns on General Purpose Financial Statements (Cont.) ' position, results of operations, or changes in financial position in conformity with generally accepted accounting principles. Neither is such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data. Authoritative Sources - Financial Reporting ' The financial statements are presented in accordance with generally accepted accounting principles applicable to state and local governmental units. These basic principles have been promulgated by the Governmental ' Accounting Standards Board. The Board has issued "GASB Codification of Governmental Accounting and Financial Reporting Standards" which provides authoritative guidance to ' state and local governmental entities, and has issued subsequent authoritative pronouncements. ' 2. Stewardship, Compliance, and Accountability A. Deficit Fund Balances/Retained Earnings of Individual Funds ' The following funds had a deficit in fund balance/retained earnings at April 30: ' Fund Deficit Balance Illinois Municipal Retirement $ (14,703) Tax Incremental Finance District 2 (264,188) ' Special Assessments 3-84 (92,937) Garage (33,302) tThese deficits will be eliminated with General Fund revenues. B. Excess of Actual Expenditures/Expenses over Budget in Individual Funds The following funds had an excess of actual expenditures/expense's (ex- clusive of depreciation and amortization) over budget for the year ended April 30: Fund Excess ' Debt Service Water $ 255,786 88,233 Refuse 42,265 Garage 27,361 ' 18 VIILAGE OF DEERFIEM, ILLINOIS ' NOTES TO THE FINANCIAL STATEMaT5 APRIL 30, 1988 ' 3. Detail Notes on All Fund and Account Groups A. Assets ' 1. Cash and Investments Tire Village maintains a cash and investment pool that is 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 Village's funds. The deposits and investments of the pension trust t fund are held separately from those of other funds. Cash on hand has been excluded -from the amounts shown below. Permitted Deposits and Investments - Statutes authorize the Village to make deposits/invest ' in commercial banks, savings and loan institutions, obligations of the U.S. Treasury and U.S. Agencies, obligations of States and their political subdivisions, credit union shares, repurchase agreements, commercial paper rated within the three highest classifications by ' at least two standard rating services, and the Illinois Public Treasurer's Investment Pool. Pension funds may also invest in certain non-U.S. obligations, mortgages, veteran's loans, and life insurance company contracts. , Deposits At year-end the carrying amount of the Village's deposits totaled $4,606,587, and the bank balances totaled $5,250,660. Bank Balances Category 1 Deposits covered by federal depository insurance, or by collateral held by the Village, or its agent, in the Village's name. Category 2 Deposits covered by collateral held by the pledging financial institution's trust department, or by its agent, in the Villages name. Category 3 Deposits covered by collateral held by the pledging financial institution, or its trust department, or its agent but not in the Village's name, and deposits which are uninsured and uncollateralized. Total Deposits $ 817,133 ' 4,433,527 ' $5,250,660 ' For pension trust funds the types of deposits authorized and the mix of credit risk I categories do not differ significantly from the other funds of the Village. 1 19 1 1 1 1 1 e 1OW WID1 .1 1 3. Detail Notes on All Rmds and Account Groups (font. ) A. Assets (font.) 1. Cash and Investments (Cont.) InvestmMts The Village's investments are categorized to give an indication of the level of risk assumed by the entity at year-end. Category 1 includes investments that are insured or registered or for which the securities are held by the Village or its agent in the Village's name. Category 2 includes uninsured and unregistered investments for which the securities are held by the brcker's or dealer's trust department or agent in the Village's name. Category 3 includes uninsured and unregistered investments for which the securities are held by the broker or dealer, or by its trust department or agent but not in the Village's name and'uninsu-ed, unregistered and uncollateralized investments. Carrying Amount Category Market 1 2 3 Totals Value U.S. Goverca Ent Securities $14,478,922 Life Insurance Ompanny Contract $220,000 GNKA 976,196 Dade County Florida Aviation Revenue Bonds 10,000,000 Guaranteed $14,478,922 $14,852,054 220,000 976,196 242,686 976,196 10,000,000 10,438,550 Investment Contract 250,000 250,000 250,000 $25,455,118 - $470,000 25,925,118 26,759,486 Investment in Illinois Pudic Treasurer's Investment Pool 1,120,004 1,120,004 Assets Held by Agents for Deferred Caapensation Plan 716,674 716,674 Total Investments $27,761,7% $28,5%,164 The pension trust fund awns approximately 27 percent of the investments in category 1 and 100 percent of the investments in category 3. . e VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1988 3. Detail Notes on All Funds and Account Groups (Cont.) A. Assets (Cont.) 2. Fixed Assets a. Changes in General Fixed Assets Balances Balances May 1 Additions Deletions April 30 Land $1,929,477 $402,051 $140,806 $2,190,722 Building and Improvements 1,237,500 77,350 1,314,850 Vehicles 412,994 82,043 5,000 490,037 Equipment 1,113,035 194,616 8,155 1,299,496 $4,693,006 $756,060 $153,961 $5,295,105 M b. Summary of Proprietary Fixed Assets at April 30: Enterprise Commuter Water Sewerage Parking Lot Land $.77,500 Systems $2,808,048 Equipment and Vehicles 333,881 Parking Lot 3,141,929 Less Accumulated Depreciation 755,735 $2,386,194 $8,343,360 217,070 613,958 8,560,430 691,458 1,655,830 274,100 $6,904,600 $417,358 j 21 i ! f VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS I APRIL 30, 1988 3. Detail Notes on All Funds and Account Groups (Cont.) IB. Liabilities 1. Retirement Fund Commitments a. P1an'Descriptions ' Illinois Municipal Retirement The Village 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 Village's total payroll for the year ended December 31, 1987 was ' $3,698,215. Of this amount, $2,292,114 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 1 2/3 percent of their final rate (average of the highest 48 consecutive months' earnings during the last 10 years) of earnings, for each year of credited service up to 15 years, and 2 percent for each year thereafter. IMRF also provides death and disability benefits. These benefit provisions and all other requirements are established ' by Illinois State Statute. Participating members are required to contribute 4.5 percent of their annual salary to IMRF. The Village 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 1987 the rate was 7.83%. Police Pension Police sworn personnel are covered by the Police Pension Plan which is a defined benefit single -employer pension plan. Although this is a single -employer pension plan, the defined benefits and employee and employer contributions levels are governed by Illinois State Statutes (Chapter 108 1/2 Article 3) and may be amended only by the Illinois legislature. The Village accounts for the plan as I a pension trust fund. The Village's payroll for employees covered 22 ' VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1988 3. Detail Notes on All Funds and Account Groups (Cont.) B. Liabilities (Cont.) 1. Retirement Fund Commitments (Cont.) a. Plan Descriptions (Cont.) Police Pension (Cont.) I by the Police Pension Plan for the year ended April 30, 1988 was $1,244,967 out of a total payroll of $3,698,215. At April 30, 1988 I 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 Vested 34 Nonvested ) — Total 40 The following is a summary of the Police Pension Plan as provided for in Illinois State Statutes. The Police Pension Plan provides retirement benefits as well as death and disability benefits. Employees attaining the age of 50 or more with 20 or more years of creditable service are entitled to receive an annual retirement benefit of one-half of the salary attached to the rank held on the last day of service, or for one year prior to the last day, whichever is greater. The pension shall be increased by 2% of such salary for each additional year of service over 20 years up to 30 years, and 1% of such salary for each additional year of service over 30 years, to a maximum of 75% of such salary. Employees with at least 8 years but less than 20 years of credited service may retire at or after age 60 and receive a reduced benefit. The monthly pension of a police officer who retired with 20 or more years of service after January 1, 1977 shall be increased annually, following the first anniversary date of retirement and be paid upon reaching the age of at least 55 years, by 3% of the original pension and 3% simple interest annually thereafter. 23 ' VILLAGE OF DEERFIELD, ILLINOIS - NOTES TO THE FINANCIAL STATEMENTS I APRIL 30, 1988 3. Detail Notes on All Funds and Account Groups (Cont.) 1 B. Liabilities (Cont.) 1. Retirement Fund Commitments (Cont.) a. Plan Descriptions (Cont.) Police Pension (Cont.) 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 Village is required to contribute the remaining amounts necessary. to finance the plan as actuarially determined by an enrolled. actuary. By the year 2020 the Village's contributions must accumulate to the point where the past service cost for the Police ' Pension Plan is fully funded. Pension b. Summary of Significant Accounting Policies and Plan Asset Matters ' Basis of Accounting The financial statements are prepared using the accrual basis of ' accounting. Employee and employer contributions are recognized as revenues in the period in which employee services are performed. . Method Used to Value Investments Fixed -income securities are reported at amortized cost with ' discounts or premiums amortized using the effective interest rate method, subject to adjustment for market declines judged to be other than temporary (lower of cost or market). Investment income is recognized as earned. Gains and losses on sales and exchanges ' of fixed -income securities are recognized on the transaction date. Equity securities are reported at cost subject to adjustment for market declines judged to be other than temporary (lower of cost or ' market). C. Funding Status and Progress ' The amount shown below as the "pension benefit obligation" is a standardized disclosure measure of the present value of pension benefits, adjusted for the effects of projected salary increases ' and step -rate benefits, estimated to be payable in the future as a 24 VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1988 3. Detail Notes on All Funds and Account Groups (Cont.) B. .Liabilities (Cont.) 1. Retirement Fund Commitments (Cont.) c. Funding Status and Progress (Cont.) result of employee service to date. The measure is intended to help users assess the funding status of the system on a going - concern basis, assess progress made in accumulating sufficient assets to pay benefits when due, and make .comparisons among employers. The measure is the actuarial present value of credited projected benefits and is independent of the funding method used to determine contributions to the System. Illinois Municipal Police Actuarial Valuation Date Significant Actuarial Assumptions a) Rate of Return on Invest- ment of Present and Future Assets b) Projected Salary Increases - Attributable to Inflation c) Additional Projected Salary Increases - Attributable to Seniority/Merit d) Postretirement Benefit Increases Retirement Pension December 31, May 1, 1987 1987 7.00% 9.00% compounded compounded annually annually 3.75% ] 5.50% compounded ] compounded annually ] J J annually J ] (Note - separate information J for b) and c) not available) 1.00% ] 3.00% 3.00% simple interest annually 25 11 VILLAGE OF DEERFIELD. ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1988 3. Detail Notes on All Funds and Account Groups (Cont.) B. Liabilities (Cont.) 1. Retirement Fund Commitments (Cont.) c. Funding Status and Progress (Cont.) Illinois Municipal Police Retirement Pension Pension Benefit Obligation Retirees and Beneficiaries Currently Receiving Benefits and Terminated (Note A) Employees not yet Receiving Benefits $ 32,140 Current Employees ] Accumulated Employee J Contributions ] Including Allocated ] Investment Earnings 902,400 ] Employer - Financed Vested 2,032,704 ] Employer - Financed ] Nonvested 262,191 ] Totals $ 959,078 $ 991,218 4,291,038 7,488,333 (Note B) Total Pension Benefit. Obligation 3,229,435 5,250,116 8,479,551 Net Assets Available for Benefits, at Lower 'of Cost or Market 1,785,417 4,411,629 6,197,046 (Market Values) (IMRF - $1,785,417) (Police - 4,413,035) (Totals $6,198,452) Unfunded (Assets in Excess of) Pension Benefit Obligation $1,444,018 $ 838,487 $2,282,505 (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 Village to IMRF as a whole when the annuity became payable. (Note B) The concept of vesting is not clearly defined in Illinois State Statutes. Benefit accrual rates are delineated, but they do not assist in defini- tively determining vesting status. As such no detail allocation can be determined. 26 1 VILLAGE OF DEERFIELD. ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1988 3. Detail Notes on All Funds and Account Groups (Cont.) B. Liabilities (Cont.) 1. Retirement Fund Commitments (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 December 31,'1987 pension benefit obligation shown above. This amount has been calculated by the IMRF 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. Since the December 31, 1987 valuation was the first time this measure was used, comparison with a previous year's pension benefit obligation is not available. Police Pension Current -year changes in the actuarial assumptions and benefit provisions resulted in an increase (decrease) in the pension benefit obligation (PBO) of $211,058 as compared to the amount of the PBO calculated irrespective of such changes. 1 27'. VILLAGE OF DEERFIELD, ILLINOIS ' NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1988 3. Detail Notes on All Funds and Account Groups (Cont. B. Liabilities (Cont.) 1. Retirement Fund Commitments (Cont.) d. Actuarially Determined Contribution Requirements and Contribution Made Illinois Municipal Retirement, Police Pension, and Firemen's 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 Village'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 and Firemen's Pension Systems used a level dollar amount method to amortize the unfunded liability over a 40 year period. The significant actuarial assumptions used to compute the actuarially determined contribution requirements are the same as those used to compute the pension benefit obligation as described in c. above. -. 6, f; 28 VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1988 3. Detail Notes on All Funds and Account Groups (Cont.) B. Liabilities (Cont.) 1. Retirement Fund Commitments (Cont.) d. Actuarially Determined Contribution Requirements and Contribution Made (Cont.) Actuarial Valuation Date Actuarially Determined Contribution Requirement - Employer As a Dollar Amount Normal Cost Amortization of Unfunded Actuarial Accrued Liability Death and Disability Cost As a % of Current Covered Payroll Normal Cost Amortization of Unfunded Actuarial Accrued Liability Death and Disability Cost Contribution Made As a Dollar Amount Employer Employee As a % of Current Covered Payroll Employer Employee Illinois Municipal Police Retirement Pension Totals December 31, May 1, 1987 1987 $ 59,824 $ 66,239 $126,063 101,540 73,512 175,052 18,107 18,107 $179,471 $139,751 $319,222 2.61% 5.30% 3.56% 4.43 5.90 4.90 .79 .79 7.83% 11.20% 9.25% $179,472 $150,024 $329,496 103,137 107,902 211,039 $282,609 $257,926 $540,535 7.83% 11.20% 9.31% 4.50 8.70 5.96 12.33% 19.90% 15.27% u 29 VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1988 3. Detail Notes on All Funds and Account Groups (Cont.) ' B. Liabilities (Cont.) 1. Retirement Fund Commitments (Cont.) d. ActuariallyDetermined Contribution Requirements and q Contribution Made (Cont.) Effects on the Contribution Requirements of Current -Year Changes ' Illinois Municipal Retirement Current -year changes in the actuarial assumptions, benefit provisions, and methodology, explained below, will be incorporated ' in the 1989 employer contribution rate. These changes are estimated to increase the 1989 rate by approximately 2.03 percent of payroll over the 1988 rate. Separate dollar effects of each ' change were not economically determinable on an individual employer basis by IMRF. Police Pension Current -year changes in the actuarial assumptions, actuarial fund- ing method, and benefit provisions resulted in an increase (decrease) in the contribution requirement of $(6,300) as compared to the amount of the contribution requirement calculated irrespective of such changes. 1-1 I] 30 F ;'VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL SIATIIMERrS APRIL 30, 1988 3. Detail Notes on All Rmds and Account Groups (Cant.) B. Liabilities (Cont.) 1. Retirement Fluid Commitments (Cont.) e. Trend Information Trend information gives an indication of the progress made in acannilatirg sufficient assets to pay benefits Mien due. Ten year trend information may be found in the supplemental section of the Village's annual financial report. Illinois Municipal Police Year Retirement Pension Totals Net Assets Available for Benefits As a % of the Pension Benefit Obligation (PBO) Unfunded (Assets in Excess of) PBO As a % of Annual Covered Payroll (Expressing the unfunded pension benefit obligation as a percent- age of annual covered payroll approDdmately adjusts for the effects of inflation for analysis purposes) Employer Contributions As a % of Annual Covered Payroll Required Made 1988 55.29% 84.03'/ 73.08% 1988 63.0M. 67.35% 64.5S/. 1988 8.217. 12.057. 9.56% 1988 $179,472 $139,841 $319,313 1988 $188,188 $150,024 $338,212 (During the implementation transition period all information required is presented for as many years as is available.) f i r 31 i 1f VILLAGE OF DEERFIELD, I�kLtN01S NOTES TO THE FINANCIAL STATEMENTS I APRIL 30, 1988 3. Detail Notes on All Funds and Account Groups (Cont. ) B. Liabilities (Cont.) 1. Retirement Fund Commitments (Cont.) f. Deferred Compensation Plan Fund The Village offers its employees a deferred compensation plan created in accordance with Internal Revenue Code Section 457. The plan, available to certain Village employees, permits them to defer ' a portion of their salary until future years. The deferred compensation is not available to employees until termination, retirement, death, or unforeseeable emergency. All amounts of compensation deferred under the plan, all property and rights purchased with those amounts, and all income attribut- able to those amounts, property, or rights are (until paid or made available to the employee or other beneficiary) solely the property and rights of the Village (without being restricted to the provisions of benefits under the plan), subject only to the claims ' of the Village's general creditors. Participants' rights under the plan are equal to those of general creditors of the Village ..in an amount equal to the fair market value of the deferred account for each participant. It is the opinion of the Village's legal counsel that the Village 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 Village believes that it is unlikely that it will use the assets to satisfy the claims of general creditors in the future. L 11 32 VILLAGE OF DEERFIELD, ILLINOIS NOTES.TO..THE FINANCIAL STATEMENTS APRIL 30, 1988 3. Detail Notes on All Funds and Account Groups (Cont.) B. Liabilities (Cont.) 2.. Commitments The following major contractual commitments existed at April 30: Expended Required Project Through Future Description Authorization April 30r Committed Financing Sewer Treatment Plant Clarifier $ 129,880 - $129,880 - Public Works Facility 127,300 $ 113,813 13,487 - Sewer Treatment Plant Improvement 428,094 352,416 75,678 - Phase 2A Sanitary Sewer 276,000 200,676 75,324 - Phase 2B Sanitary Sewer 2,276,000 1,875,907 400,093 $12,000 Deerfield Road Pumping Station 1,668,000 1,281,520 386,480 - 1988 Street Rehabilitation 84,700 20,899 63,801 - Wilmot Road Pumping Station 380,000 266,711 113,289 - Bridges 1,392,129 784,605 607,524 - Recreational Site 10,000 4,415 5,585 - Pfingsten/Kates Road Extension 692,069 255,796 436,273 - Brickyard Park Development 28,500 - 28,500 - 33 11 1 VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1988 3. Detail Notes on All Funds and Account Groups (Cont.) B. Liabilities (Cont.) 2. Commitments The Village has committed to purchase excess liability insurance from the High -Level Excess Liability Pool (Agency), a joint venture of Illinois municipalities. The Village expects to pay the following minimum amounts (these amounts represent the Village's share of the principal and interest - "fixed costs" - of the Agency): Year Ended April 30 Amount 1989 $23,492 1990 24,139 1991 24,265 1992 25,209 1993 25,122 1994 24,954 1995 25,600 1996 26,120 1997 25,585 1998 25,880 These amounts have been calculated using the Village's current allocation percentage of 3.59. In future years this allocation percentage will be subject to change, because the Agency Agreement provides that each year Members will be assessed based upon a formula which specifies the following four criteria for allocating premium costs: Miles of Streets Full -Time Equivalent Employees Number of Motor Vehicles Operating Revenues 34 VU LACE OF DEERRFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1988 3. Detail Nates on All Funds and Account Groups (Cont.) B. Liabilities (Cont.) 3. Lang Term Debt a. Changes in Long -Term Debt Fund Debt Balances - Retired By May.l General Obligation Bonds Sewerage Improvement Bond Series of 1973 ($1,080,000 dated June 1, 1973; maturing December 1, 1992; payable in annual installments; interest rates from 4.4. to 5.1%) Sewer Treatment Facility Bond Series of 1973 ($2,000,000 dated June 1, 1973; maturing December 1, 1992; payable in annual installments; Debt interest rates from 4.4% to 6.0%) Service Corporate Purpose Bond Series of 1982 ($500,000 dated October 1, 1982; maturing December 1, 1994; payable in annual installments; Debt interest rates from 9.60% to 10.25%) Service Corporate Purpose Bond Series of 1982-A ($500,000 dated December 1, 1982; maturing December 1, 1993; payable in annual installments; Debt interest rates from 7.0% to 8.5%) Service Corporate Purpose Bond Series of 1983 ($500,000 dated December 1, 1983; maturing December 1, 1988; payable in annual installments; Debt interest rates from 8.5%) Service Corporate Purpose Bond Series of 1986 ($11,000,000 dated May 1, 1986; maturing January 1, 2005; payable in annual installments; Debt interest rates from 6.40% to 7.75%) Service Corporate Purpose Bond Series of 1987 ($10,000,000 dated October 8, 1987; maturing October 8, 2002) Debt Service $ 400,000 Adjustments/ Balances Issuances Retirements April 30 $ 75,000 $ 325,000 :/1 111 111 . 111 450,000 25,000 425,000 250,000 125,000 125,000 125,000 10,775,000 , $10,000,000 10,000,000 $13,150,000 $10,000,000 $525,000 $22,625,000 35 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 3. Detail Notes on All Maids and Account Groups (07nt.) B. Liabilities (Cont.) 3. Inng-lbrm Debt (font.) a. Charges in Lore --Term Debt (font. ) Fund Debt Balances Adjustments/ Balances Retired By May 1 Issuances Retirements April 30 Revenue Bonds Water Revenue Bond Series of 1960 ($125,000 dated January 1, 1960; maturing May 1, 1989; payable in annual installments; interest rates from 4.257. to 4.757.) Water $20,000 $10,000 $10,000 Water Revenue Bond Series of 1959 ($545,000 dated April 1, 1959; maturing May 6, 1989; payable in annual installments; interest rates from 4.25% to 5.0CP/) Water 70,000 35,000 35,000 $90,000 - $45,000 $45,000 Special Assessment Bonds (callable; interest rates Special fran 6.0% to 7.0%) Assessment $64,587 - - $64,587 b. Corporate Purpose Bond Series of 1987 The Village issued $10,000,000 of Corporate Purpose Bonds. (Actual proceeds including premium - $10,738,573). Part of the proceeds of this issue have been deposited with an escrow agent to pay the debt service requirements on the Corporate Purpose Bond Series of 1987. These funds have been used to purchase Dade County, Florida Aviation Revenue Bonds and recorded in the Corporate Purpose Bond Series of 1987 Redemption plaid (Lendable Trust). This transaction does not constitute defeasance of debt under CAM Statement No. 7 - Advance Refunding of Debt. Oil VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1988 3. Detail Notes on All Funds and Account Groups (Cont.) B. Liabilities (Cont.) 3. Long —Term Debt (Cont.) C. Debt Service Requirements to Maturity Fiscal Year Ending April 30 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 ANNUAL PRINCIPAL AND INTEREST REQUIREMENTS General Special Obligation Revenue Assessment Bonds Bonds Bonds* $ 2,314,123 $46,913 $64,587 2,273,638 2,342,138 2,326,988 2,338,750 2,110,013 2,038,800 1,952,905 1,955,785 1,955,485 1,951,925 1,955,025 1,954,025 8,659,825 4,240,613 1,111,350 1,115,538 $42,596,926 $46,913 $64,587 Totals $ 2,425,623 2,273,638 2,342,138 2,326,988 2,338,750 2,110,013 2,038,800 1,952,905 1,955,785 1,955,485 1,951,925 1,955,025 1,954,025 8,659,825 4,240,613 1,111,350 1,115,538 t i, ,) 7 n 5i [.,)(, * These bonds are callable and have been allocated to the most current year. 1 37 ' VILLAGE OF DEERFIELD, ILLINOIS I NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1988 3. Detail Notes on All Funds and Account Groups (Cont.) B. Liabilities (Cont.) 3. Long -Term Debt (Cont.) C. Legal Debt Margin The Village is a home rule municipality. Article VII, Section 6(k) of the 1970 Illinois Constitution governs ' computation of the legal debt margin. "The General Assembly may limit by law the amount and require referendum approval of debt to be incurred by home rule municipalities, payable from ad valorem property tax receipts, only in excess of the following percentages of the assessed value of its taxable property ...(2) if its population is more than 25,000 and less than 500,000 an aggregate of one percent: ..indebtedness which is outstanding on the effective date (July 1, 1971) of this constitution or which is thereafter approved by referendum... shall not be included in the foregoing percentage amounts." To date the General Assembly has set no limits for home rule ' municipalities. d. Revenue Bond Ordinance Disclosures i1) Water Fund ' a) The ordinance authorizing the issuance of the Water Revenue Bond Series of 1959 and the subsequent Water Revenue Bond Issue of 1960 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 with the Account, all monies of the following priority. system in accordance Operation and Maintenance Account - An amount sufficient to cover the estimated operating and maintenance expense of the water system for the current month. 38 , VILLAGE -OF DEERFIELD, ILLINOIS t NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1988 C 3.. Detail Notes on All Funds and -Account Groups (Cont.) B. Liabilities (Cont.) , .3. Long -Term Debt (Cont. t d. Revenue Bond Ordinance Disclosures (Cont.) 1) Water Fund (Cont.) a) (Cont.) 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-twelf th of the aggregate yearly amount of principal due on the next principal maturity date. Depreciation Account - the sum of $250 each month until such account aggregates the sum of $15,000. Funds accumulated shall be used for replacements or unusual repairs for which funds are not otherwise available. 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 monies 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 money then remaining in the surplus account may be used for the following purposes: A. Create a Bond Redemption Account B. Accelerate the accumulation of funds in aforementioned accounts C. Used for any lawful corporate purpose I 39 VILLAGE OF DEERFIELD. ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1988 3. Detail Notes on All Funds and Account Groups (Cont.) B. Liabilities (Cont.) 3. Long -Term Debt (Cont.) d. Revenue Bond Ordinance Disclosures (Cont.) 1) Waterworks and Sewerage Fund (Cont.) b) Supplemental information required under bond ordinance provisions, not subject to audit: Metered Customers 5,646 Unmetered Customers - Hydrants 734 Gallons Pumped 977,213,000 Gallons Billed 840,307,523 ' Connecting Properties 5,687 4. Industrial Revenue Bonds The Village entered into agreements with Chi-Chi's, Inc., Teradyne, Inc., and Industrialplex Limited Partnership in which the Village has ' authorized the issuance of Industrial Revenue bonds in the following amounts: ' Chi-Chi's, Inc. $1,615,000 Trustee - The Citizens Fidelity Bank and Trust of Kentucky Teradyne, Inc. $1,000,000 Trustee - State Bank and Trust ' of Boston Industrialplex Limited ' Partnership $4,500,000 Trustee - American National Bank and Trust Company of Chicago rThe Village has no liability under these bond issues. 11 40 VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30. 1988 3. Detail Notes on All Funds and Account Groups (Cont.) C. Interfund Receivables and Payables Due Due From To General General Municipal Audit $ 152 $ 36 Emergency Services/Disaster 194 17 Street and Bridge 821 Illinois Municipal Retirement 1,059 1,112 Debt Service 419 3,830 Tax Incremental Finance District 2 400,000 Sewerage 1,686 Refuse 1,454 Garage 2,513 Police Pension 599 Deposit 10,707 414,217 10,382 Special Revenue Municipal Audit General 36 152 Illinois Municipal Retirement 57 93 152 Emergency Services/Disaster General 17 194 Illinois Municipal Retirement 14 31 194 Youth Bound Garage 362 Library Illinois Municipal Retirement 10,723 Debt Service 190 10,913 Street and Bridge General 821 Debt Service 310 222 Refuse 2,300 Garage 7,439 Police Pension 669 1,131 10,630 41 1 i 1 1 1 1 i 1 1 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30. 1988 3. Detail Notes on All Funds and Account Groups (Cont.) C. Interfund Receivables and Payables (Cont.) Due Due From To Special Revenues (Cont.) Illinois Municipal Retirement General $ 1,112 $ 1,059 Municipal Audit 57 Emergency Services/Disaster 14 Library '10 ,723 Debt Service 572 7,463 1,684 19,316 Total Special Revenues 13,852 30,654 Debt Service Debt Service General 3,830 419 Library 190 Street and Bridge 222 310 Illinois Municipal Retirement 7,463 572 Refuse 419 Police Pension 324 Total Debt Service 11,515 2,234 Capital Projects Tax Incremental Finance District 1 Brickyards Development 170,000 Tax Incremental Finance District 2 General 400,000 Brickyards Development Tax Incremental Finance District 170,000 Total Capital Projects 170,000 570,000 Enterprise Water Garage 446 Sewerage General 1,686 Garage 1,915 3,601 42 VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1988 3. Detail Notes on All Funds and Account Groups (Cont. C. Interfund Receivables and Payables (Cont.) Due Due From To Enterprise (Cont.) Refuse General $ 1,454 Street and Bridge 2,300 Debt Service 419 4,173 Total Enterprise 4,173 $ 4,047 Internal Service Garage General 2,513 Youth Bound 362 Street and Bridge 7,439 Water 446 Sewerage 1,915 Total Internal Service 12,675 Trust and Agency Police Pension General 599 Street and Bridge 669 Debt Service 324 1,592 Deposit General 10,707 Total Trust and Agency 1,592 10,707 Total All Funds $628,024 $628,024 43 VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1988 3. Detail Notes on All Funds and Account Groups (Cont.) D. Fund Equity 1. Reservation of Retained Earnings Retained Earnings - Reserved - Restricted Accounts represents amounts required to be segregated by bond ordinance provisions. 2. Reservation of Fund Balance Reserves are used to segregate portions of fund balances which are either legally restricted for specific purposes or not "available spendable resources". 3. Designation of Fund Balance Designated Fund Balance is used to segregate portions of fund balance intended by management for future expenditures. The Village has designated $1,522,000 for area improvements in the General Fund. 44 NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1988 4. Segment Information for Certain Individual Enterprise Funds 'Ilse Village maintains 4 Enterprise Funds which provide water, sewerage, refuse and .parking services. Segment information for the year ended April 30 is as follows: Operating Revenues Depreciation,.. Depletion, and Amortization Expense Operating.Income or (Loss) Operatirg Transfers Out Tax Revenues Net Incone (Loss) Contributed Capital Contributions Plant, Prcperty and Equipwnt Additions Deletions Total Assets Nat 4brdang Capital Bonds and Other Long -Tenn Liabilities Payable fran Operating Revenues Total Equity Commuter Water Sec -rage Refuse Parking Lot Fund Fund_ Fund Fund Totals $1,984,088 $1,070,821 $ 453,555 $ 91,181 $ 3,599,645 106,240 249,510 - 30,698 386,448 123,941 (184,266) (503,710) 37,301 (526,734) - - - (20,000) (20,000) - - 485,998 - 4851998 161,118 (127,985) 20,052 17,301 70,486 2,012,347 2,072,000 - - 4,084,347 2,032,810 2,079,311 - - 4,112,121 3,811,710 8,168,725 580,525 627,593 13,188,553 1,217,396 1,156,769 501,802 208,851 3,084,818 45,000 - - - 45,000 3,647,298 8,061,369 501,802 626,209 12,836,678 45 5. Related Entities A. Joint Ventures VILLAGE OF DEERFIELD. ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30. 1988 Municipal Insurance Cooperative Agency (MICA) 1. Description of Joint Venture The Municipal Insurance Cooperative Agency is a proprietary joint venture whose members are Illinois municipalities. MICA manages and funds first party property losses, third party liability claims, and Worker's Compensation claims of its member municipalities. Each member municipality has self-insurance retentions at various amounts. Management consists of a Board of Directors comprised of one representative from each member. In addition, there are two officers, a Risk Manager and a Treasurer. The Village does not exercise any control over the activities of the Agency beyond its representation on the Board of Directors. 2. Summary Financial Information of Joint Venture There are no available financial statements of the Agency at April 30, 1988. Therefore, MICA has not been reflected in the financial statements at April 30, 1988. Initial contributions are determined in advance of each membership year based on the individual member's eligible revenue as defined in the bylaws of MICA and assessment factors based on past member experience and the funding needs for the membership year. The Board of Directors may require that supplemental contributions be made by members to ensure adequate funds are available to meet the obligations applicable to the membership year. Members have a contractual obligation to fund any deficit of MICA attributable to a membership year during which they were a member. It is estimated that the equity on the MICA financial statements when issued will be zero and that the Village's net investment in MICA will also be equal to zero. 46 ' VILLAGE OF DEERFIELD. ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30. 1988 5. Related Entities (Cont.) A. Joint Ventures (Cont.) High -Level Excess Liability Pool 1. Description of Joint Venture The High -Level Excess Liability Pool (the "Agency") 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 April 30, 1988, the following municipalities were members of the Agency: Village of Arlington Heights 11.70% Village of Mount Prospect 7.79% Village of Chicago Ridge 2.24 Village of Oak Lawn 9.27 Village of Deerfield 3.59 City of Park Ridge 5.86 City of Des Plaines 11.43 Village of Skokie 10.55 Village of Elk Grove Village 7.67 Village of Streamwood 4.20 Village of Glenview 6.24 City of Wheaton 7.01 Village of Hoffman Estates 6.62 Village of Winnetka 4.48 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. The Agency is governed by a Board of Directors which consists of one 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 resolu- tions 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 Village does not exercise any control over the activities of the Agency beyond its representation on the Board of Directors. The Village accounts for its share of HELP through its General Fund, using the equity method of accounting as provided for by GASB Codification Section J50. 1 iJ 47 1 1 1 1 1 1 1 1 1 1 i 1 VILLAGE OF DEERF=, ILLINOIS NOTES TO THE FINANCIAL STATEHMS APRIL 30, 1988 5. Related Entities (Cont.) A. Joint Ventures (Cont.) High -Level Excess Liability Pool (Cont.) 2. Summary Financial Information of Joint Venture a. Sm nary of Financial Position as of April 30, 1988 Assets Liabilities and Fund Equity Current Assets Current Liabilities Cash and Investments. Accounts Payable $ 4,352 Unrestricted $ 937,558 Claims Payable 50,000 Escrow Agreement 5,480,740 Due to Village of 6,418,298 Elk Grove Village 350,000 Accrued Interest Payable 131,949 Receivables Due to Members 52,197 Accounts 83,554 Deferred Revenues 556,686 Accrued Interest 11,898 1,145,184 95,452 Long -Term Liabilities Due to Village of Elk Grove Village 4,650,000 Total Liabilities 5,795,184 Fund Equity Retained Earnings 718,566 Total Liabilities Total Assets $6,513,750 and Fund Equity $6,513,750 48 VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1988 5. Related Entities (Cont.) A. Joint Ventures (Cont.) High -Level Excess Liability Pool (Cont.) 2. Summary Financial Information of Joint Venture (Cont.) b. Summary of Revenues, Expenses, and Changes in Retained Earnings for the year ended April 30, 1988. Operating Revenues $ 962,059 Operating Expenses 88,542 Operating Income 873,517 Nonoperating Revenues (Expenses) Interest Income 78,302 Interest Expense (118,754) Bond Issuance Expenses (114,499) (154,951) Net Income 718,566 Retained Earnings May 1 - April 30 $ 718,566 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 49 VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30. 1988 5. Related Entities (Cont.) A. Joint Ventures (Cont.) High -Level Excess Liability Pool (Cont.) 2. Summary Financial Information of Joint Venture (Cont.) C. Village's Share of Assets, Liabilities, Fund Equity.. and Changes for the year ended April 30, 1988 _.. Balances Increases Balances. May 1 (Decreases) April 30 Total Assets - $233,844 $233,844 Total Liabilities $208,047 $208,047 Fund Equity Retained Earnings - 25,797 25,797 Total Liabilities and Fund Equity - $233,844 $233,844 d. Village's Share of: Net Income $ 25,797 e. Joint Venture Debt 1. Changes in Long -Term Debt Balances May 1 Due to Village of Elk Grove Village for Retirement of General Obligation Bonds Balances Issuances Retirements April 30 $5,000,000 - $5,000,000 50 ' VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1988 5. Related Entities (Cont.) A. Joint Ventures (Cont.) High -Level Excess Liability Pool (Cont.) 2... Summary Financial Information of Joint Venture (Cont.) e. Joint Venture Debt (Cont.) 2. Security for the Debt The Village of Elk Grove Village, Illinois (the initial Host Member) issued $5,000,000 of general obligation bonds in 1987 to provide initial funding for the Agency. The .bond proceeds were put into escrow with LaSalle National Bank as escrow agent. An intergovernmental agreement among the Agency, the Village of Elk Grove Village, and the Members provides that the Agency and its Members are obligated to the Village of Elk Grove Village for payment of principal and interest on the bonds until such bonds have been retired. Additionally each Member is liable for its proportionate share of any default by other Members. The obligations of the Agency and its Members are unconditional. 6. Significant Contingencies A. Litigation There are several pending lawsuits in which the Village is involved. The Village Attorney estimated that the potential claims against the Village not not covered by insurance resulting from such litigation would not materially affect the financial statements of the Village. B. Contingent Liabilities 1. The Village participates in a number of federally assisted grant programs, principal of which is the Federal Revenue Sharing Program. These programs are subject to program compliance audits by the grantors or their representatives. The audits of these programs for or including the year ended April 30, 1988 have not yet been conducted. Accordingly, the Village's compliance with applicable grant requirements will be established at some future date. The amount, if any, of expenditures which may be disallowed by the granting agencies cannot be determined at this time although the Village expects such amounts, if any, to be immaterial. 1 11 .. 51 VILLAGE OF DEERFIELD, ILLINOIS ' NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1988 6. Significant Contingencies (Cont.) ' B. Contingent Liabilities (Cont.) 2. The Village'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. ' 7. Insurance ' A. The Village participates in the Municipal MICA. MICA is a proprietary joint venture Insurance Cooperative Agency 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 muncipalities. Deductibles, self -insured retentions, and excess coverages are as follows: ' Excess (Maximum Coverage Self- inclusive of ' Insured Deductibles Deductibles Retentions and Retentions) Property $1,000 $ 50,000 (1) $ 50,000 - 500,000 (2) 500,000 - 1,000,000 (3) 1,000,000 - 30,000,000 ' General Liability 1,000 75,000 (1) 759000 - 250,000 (2) 250,000 - 1,000,000 ' Auto Liability 1,000 50,000 (1) 50,000 - 500,000 (2) 500,000 - 1,000,000 Workers' Compensation - 150,000 (1) 150,000 - 250,000 ' (2) 250,000 - 30,000,000 ' The Village's payments to MICA are displayed on expenditures/expenses in appropriate funds. the financial statements as 52 ' VILLAGE OF DEERFIELD, ILLINOIS NOTES TO THE FINANCIAL STATEMENTS APRIL 30, 1988 7. Insurance (Cont.) B. The Village has purchased employee benefit insurance from private insurance companies. Premiums have been displayed as expenditures/expenses in appropriate funds. C. The Village participates in the High -Level Excess Liability Pool (HELP). HELP is a joint venture established by certain municipalities in Illinois to provide excess liability coverage ($5,000,000 of coverage after a $1,000,000 self-insurance retention). The Village's payments to HELP are displayed on the financial statements as expenditures/expenses in appropriate funds. 1 1 1 1 1 1 11 1 GOVERNMENTAL FUND TYPES 1 1 1 H GENERAL FUND 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. 11 53 1 1 1 1 1 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS GENERAL FUND BALANCE SHEET ASSETS 1988 1987 Cash and Investments $3,174,359 $3,215,044 Receivables Property Taxes 194,667 285,102 Accrued Interest 43,098 67,361 Other 145,113 106,776 Due from Other Governments Sales Tax 128,620 133,307 State Income Tax 54,188 58,812 Court Fines 10,089 14,346 Due from Other Funds 414,217 6,003 Investment in Joint Venture - HELP 16,123 Total Assets $4,180,474 $3,886,751 LIABILITIES AND FUND BALANCE Liabilities Accounts Payable $ 166,582 $ 79,107 Accrued Payroll 53,863 36,271 Contracts Payable 33,037 127,986 Compensated Absences Payable 259,222 246,329 Other Payables 30,803 15,373 Due to Other Funds 10,382 7,294 Deferred Property Taxes 220,000 320,000 Total Liabilities 773,889 832,360 Fund Balance Unreserved Designated - Capital Improvements 1,522,000 1,522,000 Undesignated 1,884,585 1,532,391 Total Fund Balance 3,406,585 3,054,391 Total Liabilities and Fund Balance $4.180.474 93.886_751 See accompanying Notes to the Financial Statements. 54 ' VILLAGE OF DEERFIELD, ILLINOIS GENERAL FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN. FUND BALANCE - BUDGET AND ACTUAL FOR THE YEAR ENDED APRIL 30. 1988 Revenues Taxes Licenses and Permits Intergovernmental Charges for Services Fines and Forfeits Miscellaneous Total Revenues Expenditures General Government Public Safety Total Expenditures Excess (Deficiency) of Revenues over Expenditures before Other Financing Sources (Uses) Other Financial Sources (Uses) Operating Transfers In (Out) Youth Bound Fund Street and Bridge Fund Federal Revenue Sharing Fund Transportation Fund Debt Service Fund Tax Incremental Finance District 2 Fund Police Pension Fund Excess (Deficiency) of Revenues and Other Sources over Expenditures and Other Uses Fund Balance May 1 Residual Equity Transfer (Out) Vehicle Replacement Fund April 30 1988 Budget Actual 1 1987 , Actual $2,690,000 $2,806,194 $2,765,809 244,000 224,492 308,460 10,000 1,703 6,457 94,000 83,409 97,954 225,000 240,598 257,723 365,000 648,067 466,171 3,628,000 4,004,463 3,902,574 1,325,125 1,246,347 1,196,644 2,392,332 2,251,474 2,136,248 3,717,457 3,497,821 3,332,892 (89,457) 506,642 569,682 (4,000) (4,000) (4,000) (135,000) 2,807 130,000 (2,000) (2,000) (2,000) 4,000 (16,255) (900) (6,000) (154,448) 127,100 $ (95,457) 352,194 696,782 See accompanying Notes to the Financial Statements. 3,054,391 2,957,609 (600,000) 3,054,391 2,357,609 SI-406-999 91-MA 1Q1 55 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 I 1 VILLAGE OF DEERFIELD, ILLINOIS GENERAL FUND SCHEDULE OF REVENUES - BUDGET AND ACTUAL FOR THE YEAR ENDED APRIL 30, 1988 Budget Actual Taxes Property Taxes - General $ 320,000 $ 328,281 Sales Tax 1,725,000 1,788,844 Income Tax 430,000 476,920 Hotel Motel Tax 215,000 212,149 2,690,000 2,806,194 Licenses and Permits Beer/Liquor Licenses 45,000 45,313 Food Licenses 3,000 4,130 Other Business Licenses 9,000 9,817 Building Permits 140,000 131,300 Animal Licenses 7,000 4,552 Non -Business Licenses and Permits 25,000 29,380 Vehicle Stickers 15,000 244,000 224,492 Intergovernmental State Grants 10,000 1,703 Charges for Services Special Police Services 53,000 44,393 Transfer Charges 36,000 36,000 Engineering Charges 5,000 3,016 94,000 83,409 Fines and Forfeits 225,000 240,598 Miscellaneous False Alarms 30,000 18,860 Sale of Materials 1,078 Rentals 40,000 38,525 Interest 175,000 285,241 Miscellaneous 20,000 150,860 Franchise Fees 100,000 137,380 Income from Joint Venture 16,123 365,000 648,067 Total Revenues $3.628.000 $4.004.463 56 , VILLAGE OF DEERFIELD, ILLINOIS GENERAL FUND SCHEDULE OF.EXPENDITURES - BUDGET AND ACTUAL FOR THE YEAR ENDED APRIL 30, 1988 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 Land Acquisition Advisory Boards Motor Vehicles Computer Project Contractual Services Equipment Total General Government Budget Actual $ 651,963 $ 611,9140 7,500 15,323 72,662 68,396 86,600 71,305 185,500 166,646 17,500 13,365 11,000 12,034 21,000 16,489 71,300 65,870 47,000 50,144 2,600 2,064 7,000 3,412 58,000 27,558 500 408 3,000 1,326 29,000 16,764 19,000 19,385 2,000 1,827 2,000 2,093 3,054 10,000 9,750 300 181 1,000 140 6,000 5,209 2,200 2,051 16,197 10,500 8,500 1,325,125 1,211,431 33,351 1,565 - 34,916 C1 Z7S 17S C1 IAja I A 7 1 1 1 1 1 1 1 1 1 1 57 VILLAGE OF DEERFIELD, ILLINOIS GENERAL FUND SCHEDULE OF.EXPENDITURES - BUDGET AND ACTUAL (CONT.) FOR THE YEAR ENDED APRIL 30, 1988 Budget Actual Public Safety Police Department ' Administrative Service Salaries $ 339,000 $343,067 Overtime 5,000 724 Part -Time 14,500 13,580 Employee Benefits 38,952 33,712 Professional Services 5,600 3,429 Travel, Training and Dues 4,800 3,075 Printing and Advertising 6,650 4,801 Communications 27,600 25,193 Insurance 141,300 127,727 ' Contractual Services 35,830 22,973 Motor Vehicle Maintenance 2,000 1,033 Repairs and Maintenance 7,600 10,484 Supplies 12,200 13,124 Apparel 1,000 354 Equipment 3,750 2,570 Motor Vehicles Miscellaneous 15,400 7,000 11,816 4,256 668,182 621,918 Investigations Salaries 114,400 114,850 Overtime 10,200 4,448 Employee Benefits 13,995 13,053 Travel, Training and Dues 1,350 174 Contractual Services 14,000 13,783 Motor Vehicle Maintenance 2,000 3,182 Repairs and Maintenance 1,000 52 Supplies 5,000 1,950 Motor Vehicle Supplies 1,000 584 Apparel 1,200 1,206 Equipment 500 164,645 153,282 ' Patrol Salaries 1,019,163 993,495 Overtime 48,004 32,935 Part -Time 43,020 30,667 Employee Benefits 108,173 97,968 Travel, Training and Dues 18,250 11,664 ' Motor Vehicle Maintenance 26,930 25,946 VILLAGE OF DEERFIELD, ILLINOIS GENERAL FUND SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.) FOR THE YEAR ENDED APRIL 30, 1988 Public Safety (Cont.) Police Department (Cont.) Patrol (Cont.) 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 Contractual Services Equipment Total Public Safety Total Expenditures Budget $ 2,000 7,000 25,000 13,600 2,500 61,000 1,374,640 18,496 132,000 8,300 15,744 1,600 2,500 1,500 925 2,000 800 1,000 166,369 2,392,332 $3,717,457 58 , Actual $ 1,056 4,004 18,227 14,189 1,738 78,502 1,310,391 13,641 127,483 3,090 13,028 431 274 1,159 77 1,025 683 4,992 152,242 2,251,474 $3,497,821 1 n SPECIAL REVENUE FUNDS I 11 1 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. 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 Library Fund - To account for the resources necessary to provide the educational, cultural and recreational activities of the Deerfield Public Library. 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. 1 Fund Descriptions I Federal Revenue Sharing Fund _I Federal Revenue Sharing Fund - Provides accountability for Federal Revenue Sharing revenues received under Title I of the State and Local Fiscal Assistance Act of 1972. 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. 1 1 1 1 i 1 1 i 1 1 1 1 1 1 1 W CN .7 N n u1 N N n 8 I�p ti 000 co Ili L F o0 nNcn N Ln D\cn iX �i0 nR�no� c Lrl �� Ci �-� N oc,Lnr, w v �� moo ppp o0 N .ti N .-� ,..� N CC N Q) N co � 4V> OI NI x� fop+ F v' v O .r 000w rn A ^ N N Ln pp ��Gl f l I I i t cn +i en cn .-1 �D I�'1en vI en yy PG N? Vf v? tn�""'1111 � P'1 1pp�pp V'1 P1 N1 8 m �D fop W � tiP'1 rn N � Nd n OOppN�� IN ENNO CA Fa N N Ln cl co �p -;r C1 ^-� O ! O V1 00 cn v t� o0 prnp NO cn 0rnp I I lI cn I� c7lI » m NI O d Ln en � � 0000 co N.�-i-i M 2 N D 80 c� �+ �P. u.o �wO 59 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 M o (D ryMy (( µ N N � � e 5 � f^JF � •7Q 3 I� III (old I00IFo [� v O I I l I I o 1co 0 �° III I� y I25I g I ICI Ln of o I x co ILn I I ul N OUUP w-. F rJ �I In t8o Ion F N OI Oco In r+ r. p� p� pN pV ppV Do F Zo r I r I10 ul v v 10 to rt ol IW � 1 1 II II II I� III O I� II II III V v I� I10�co I INI ( IW (% O I ON Rl pN�i O Pi V JIn � IOI g IVIV IN) O v rt �pDp r N W W N N �" W OD �pOp I O % �D coOD W OD c In a, O� W O� O� 00 � NNI� ONo -O O pO N p. O� �o pOppp+ W INn W F W Ul 2 W 10 OD In In p W v O V 110 In N OD . O� r+ V Oy rt O+ �V„ U1 w ^ N rn V1 p �W��rnWp 10 2sppQrpoov l�n LA41 8g8p OOO OV W NO N v00 W OF V 61 1 1 1 1 1 1 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS MUNICIPAL AUDIT FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL FOR THE YEAR ENDED APRIL 30. 1988 Revenues Taxes Property Taxes Miscellaneous Interest Other Total Revenues Expenditures Miscellaneous Contractual Excess (Deficiency) of Revenues over Expenditures Fund Balance May 1 April 30 1988 Budget Actual 1987 Actual $10,500 $10,772 $10,492 36 21 13 10,500 10,821 10,513 11,000 10,850 10,140 $ (500) (29) 373 12,252 11,879 $12,223 $12,252 See accompanying Notes to the Financial Statements. 62 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, 1988 1988 1987 Budget Actual Actual Revenues Taxes Property Taxes $5,000 $ 5,130 $ 4,996 Miscellaneous Interest 17 11 Other 6 Total Revenues 5,000 5,153 5,007 Expenditures Public Safety Travel, -Training and Dues 600 496 499 Communications 1,400 1,747 1,514 Insurance 600 365 409 Contractual 300 156 169 Utility Services 100 116 100 Motor Vehicle Maintenance 800 1,488 269 Motor Vehicle Supplies 200 37 .Repairs and Maintenance 500 755 Supplies 500 211 245 Equipment 500 450 Total Expenditures 5,500 5,334 3,692 Excess (Deficiency) of Revenues over Expenditures $ (500) (181) 1,315 Fund Balance May 1 18,899 17,584 April 30 $18,718 $18,899 See accompanying Notes to the Financial Statements. 63 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. 1988 Revenues Charges for Services Project Income Expenditures Culture and Recreation Travel Advances Travel, Training and Dues Insurance Motor Vehicle Maintenance Motor Vehicle Supplies Repairs and Maintenance Supplies Equipment Communications Contractual Total Expenditures Excess (Deficiency) of Revenues over Expenditures before Other Financing Sources Other Financing Sources Operating Transfers In General Fund Excess (Deficiency) of Revenues and Other Sources over Expenditures Fund Balance May 1 April 30 1988 1987 Budget Actual Actual $14,000 $ 7,210 $10,554 4,085 450 779 348 600 395 442 5,000 5,895 4,382 900 628 676 200 4,800 849 4,735 300 57 1,800 1,582 1,718 2,800 1,544 2,698 16,850 15,757 15,056 (2,850) (8,547) (4,502) 4,000 4,000 4,000 $ 1,150 (4,547) (502) See accompanying Notes to the Financial Statements. 6,996 7,498 $ 2,449 $ 6,996 VILLAGE OF DEERFIELD, ILLINOIS LIBRARY FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL FOR THE YEAR ENDED APRIL 30, 1988 Revenues Taxes Property Taxes Replacement Taxes Intergovernmental Grants Charges for Services Non -Resident Fees Fees, Fines, Penalties Reciprocal Borrowing Xerox Videos Miscellaneous Interest Gifts Reserve for Repairs and Replacement Other Total Revenues Expenditures Culture and Recreation Excess (Deficiency) of Revenues over Expenditures Fund Balance May 1 April 30 1988 1987 Budget Actual Actual $722,017 $689,406 $676,091 14,000 16,894 17,074 17,430 17,313 17,041 15,000 13,224 15,232 42,000 23,113 23,644 3,000 1,074 3,858 18,000 14,075 18,467 23,483 17,220 20,000 31,500 30,191 500 761 541 124,000 727 975,947 831,570 819,359 975,947 876,055 790,816 - (44,485) 28,543 See accompanying Notes to the Financial Statements. 307,634 279,091 $263,149 $307,634 65 i 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS LIBRARY FUND SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL FOR THE YEAR ENDED APRIL 30. 1988 Budget Actual Culture and Recreation Salaries - Professional $203,818 $195,849 Salaries - Non -Professional 279,899 274,659 Employee Benefits 25,000 23,849 Professional Services 15,000 14,800 Education, Travel and Dues 6,000 7,358 Communication 7,500 7,475 Insurance 13,000 2,396 Contractual Services 11,000 8,206 Utilities 600 624 Repairs, Maintenance of Building and Equipment Building Supplies 34,000 34,337 Supplies - Library and Office 25,000 23,658 Books 92,000 79,270 Periodicals 22,000 22,731 Audio -Visual 16,000 28,706 Binding 1,000 645 Special Library Programs 3,000 2,920 Data Base 1,500 1,148 New Equipment 30,000 60,662 Printing 3,000 1,877 Computer Service 12,188 Cataloging Service 3,315 Miscellaneous 400 582 Automation Project 80,000 Improvements - Parking Lot Wall 27,000 Improvements - Other than Building 79,230 68,800 Total Expenditures $975,947 $876,055 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, 1988 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 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 before Other Financing Sources Other Financing Sources Operating Transfers In General Fund Commuter Parking Lot Fund Excess of Revenues and Other Sources over Expenditures Fund Balance May 1 April 30 See accompanying Notes to the Financial Statements. 1988 1987 Budget Actual Actual $ 250,000 $246,210 $219,840 180,000 180,000 170,000 150,000 156,159 268,280 16,000 23,752 21,417 25,000 15,055 17,858 5,000 1,160 500 1,500 1,500 1,500 15,000 32,691 17,179 5,000 8,585 4,607 647,500 665,112 721,181 132,184 95,371 116,262 36,054 30,136 33,729 42,154 38,474 44,496 82,450 71,723 80,875 49,717 37,411 40,704 15,604 17,259 12,065 118,209 111,819 97,933 72,504 71,715 72,356 120,548 133,670 72,591 17,804 12,317 13,968 16,209 24,978 20,839 25,704 24,020 19,703 13,404 10,195 12,362 43,109 28,618 19,987 785,654 707,706 657,870 (138,154) (42,594) 63,311 135,000 135,000 20,000 20,000 20,000 155,000 155,000 20,000 $ 16,846 112,406 83,311 114,450 31,139 $226,856 $114,450 1 67 1 1 1 Lam', I VILLAGE OF DEERFIELD, ILLINOIS STREET AND BRIDGE FUND SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL FOR THE YEAR ENDED APRIL 30, 1988 Budget Actual Highways and Streets Public Works Administration Salaries $ 51,670 $23,436 Overtime 3,700 84 Employee Benefits 3,314 6,331 Professional Services 2,200 625 Travel, Training and Dues 1,000 1,810 Printing and Advertising 4,400 797 Communications 4,600 1,885 Other 48,600 47,488 Motor Vehicle Maintenance 2,000 1,843 Miscellaneous 2,200 3,962 Supplies - 3,000 1,769 Motor Vehicle Supplies 1,200 1,399 Apparel 1,600 1,490 Repairs and Maintenance 1,500 610 Contractual 1,200 1,842 132,184 95,371 Cleaning Salaries 14,570 13,107 Overtime 1,100 1,339 Employee Benefits 1,884 1,965 Small Tools and Equipment 500 179 Contractual 3,700 2,225 Motor Vehicle Maintenance 4,000 1,572 Repairs and Maintenance 5,500 6,232 Equipment Rental 1,500 Motor Vehicle Supplies 1,500 1,835 Supplies 1,800 1,682 36,054 30,136 Traffic Marking Salaries 14,570 16,390 Overtime 300 116 Part -Time 2,600 2,285 Employee Benefits 1,884 2,122 Motor Vehicle Maintenance 1,000 153 Repairs and Maintenance 800 541 Motor Vehicle Supplies 500 81 68 VILLAGE OF DEERFIELD, ILLINOIS STREET AND BRIDGE FUND SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.) FOR THE YEAR ENDED APRIL 30, 1988 Budget Actual Highways and Streets (Cont.) Public Works (Cont.) Traffic Marking (Cont.) Materials $ 4,000 $ 1,682 Street Signs 6,500 4,706 Contractual 10,000 10,398 42,154 38,474 Pavement Patching Salaries 30,379 30,287 Overtime 1,200 163 Employee Benefits 4,971 3,611 Motor Vehicle Maintenance 5,000 3,799 Repairs and Maintenance 5,500 1,006 Supplies 600 Motor Vehicle Supplies 2,000 1,149 Aggregates 30,800 30,811 Materials 2,000 897 82,450 71,723 Tarring Cracks Salaries 19,130 14,911 Overtime 600 1,223 Part -Time 2,600 2,692 Employee Benefits 3,087 1,272 Motor Vehicle Maintenance 1,400 1,488 Repairs and Maintenance 1,900 3,008 Motor Vehicle Supplies 3,000 1,155 Aggregates 500 14 Materials 15,000 11,648 Equipment Rental 2,500 49,717 37,411 Drainage Structures Salaries 6,075 8,529 Overtime 900 751 Employee Benefits 1,029 1,094 Motor Vehicle Maintenance 2,000 599 Repairs and Maintenance 2,300 3,569 Motor Vehicle Supplies 300 90 Aggregates 1,000 1,451 Materials 2,000 1,176 15,604 17,259 69 ' VILLAGE OF DEERFIELD, ILLINOIS STREET AND BRIDGE FUND SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.) FOR THE YEAR ENDED APRIL 30. 1988 Budget Actual Highways and Streets (Cont.) Public Works (Cont.) Street Lights and Traffic Signals Salaries $ 6,980 $ 8,638 Overtime 1,100 655 Employee Benefits 1,029 1,101 Contractual 31,000 27,654 Utility Services 63,500 58,505 Motor Vehicle Maintenance 1,500 1,131 ' Repairs and Maintenance Equipment Rental 1,000 1,000 97 335 Motor Vehicle Supplies 800 393 Aggregates 300 451 ' Materials 10,000 12,859 118,209 111,819 Miscellaneous Maintenance ' Salaries 6,075 6,610 Overtime 1,100 2,040 Employee Benefits 1,029 711 Contractual 53,700 43,391 Motor Vehicle Maintenance 1,000 1,718 Repairs and Maintenance 3,000 3,959 ' Small Tools and Equipment 300 226 Miscellaneous 500 1,292 Motor Vehicle Supplies 600 1,250 Aggregates 1,000 682 Materials 2,200 9,676 Equipment Rental 2,000 160 72,504 71,715 ' Snow and Ice Control Salaries 34,780 24,291 Overtime 9,400 24,021 Employee Benefits 3,768 2,753 Communications 800 216 Motor Vehicle Maintenance 7,000 10,530 Repairs and Maintenance 18,000 29,707 Equipment Rental 1,000 Supplies 2,500 1,002 Motor Vehicle Supplies 5,300 3,323 ' Salt 32,000 35,259 70 VILLAGE OF DEERFIELD, ILLINOIS STREET AND BRIDGE FUND SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.) FOR THE YEAR ENDED APRIL 30, 1988 Budget Actual Highways and Streets (Cont.) Public Works (Cont.) Snow and Ice Control (Cont.) Aggregates $ 4,000 Materials 2,000 $ 2,568 120,548 133,670 Weed Control Salaries 6,075 1,608 Overtime 100 143 Part -Time 2,600 1,913 Employee Benefits 1,029 458 Motor Vehicle Maintenance 1,000 205 Repairs and Maintenance 3,000 4,536 Motor Vehicle Supplies 500 281 Materials 3,000 3,173 Equipment 500 17,804 12,317 Leaf Removal Salaries 6,980 8,587 Overtime 2,200 6,828 Employee Benefits 1,029 1,124 Motor Vehicle Maintenance 1,500 739 Repairs and Maintenance 4,000 6,790 Motor Vehicle Supplies 500 775 Supplies 135 16,209 24,978 Tree Removal Salaries 6,075 7,518 Overtime 600 756 Part -Time 4,100 2,892 Employee Benefits 1,029 913 Contractual 9,000 9,591 Motor Vehicle Maintenance 700 617 Repairs and Maintenance 600 1,334 Motor Vehicle Supplies 400 102 Materials 2,200 297 Equipment 500 Equipment Rental 500 25,704 24,020 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS STREET AND BRIDGE FUND SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.) FOR THE YEAR ENDED APRIL 30, 1988 Budget Actual Highways and Streets (Cont.) Public Works (Cont.) Tree Planting Salaries $ 6,075 $ 3,939 Overtime 400 94 Employee Benefits 1,029 1,184 Contractual 4,200 4,181 Motor Vehicle Maintenance 500 213 Repairs and Maintenance 300 247 Motor Vehicle Supplies 400 233 Materials 500 104 13,404 10,195 Railroad Station Maintenance Salaries 6,980 8,747 Overtime 900 271 Part -Time 3,600 2,275 Employee Benefits 1,029 830 Contractual Services 15,800 5,864 Utility Services 2,500 Repairs and Maintenance 2,400 1,887 Supplies 1,500 Aggregates 500 379 Materials 7,900 8,365 43,109 28,618 Total Expenditures $785,654 $707,706 71 72 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, 1988 Revenues Taxes Property Taxes Replacement Taxes Miscellaneous Interest Earnings Other Total Revenues Expenditures Miscellaneous Illinois Municipal Retirement Payments - Employer Excess (Deficiency) of Revenues over Expenditures 1988 1987 Budget Actual Actual $360,000 $333,410 $299,782 7,000 6,995 7,069 6,000 12,795 10,963 404 2,592 373,000 353,604 320,406 360,000 348,698 324,957 $ 13,000 4,906 (4,551) Fund Balance May 1 0 9,609) (15,058) April 30 $04,703) $09,609) See accompanying Notes to the Financial Statements. 73 1 1 1 1 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS PUBLIC BENEFIT FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL FOR THE YEAR ENDED APRIL 30, 1988 Revenues Miscellaneous Interest Other Total Revenues Expenditures General Government Contractual Excess (Deficiency) of Revenues over Expenditures Fund Balance May 1 April 30 1988 Budget Actual $ 3,000 3,000 - 7,000 - $(4,000) - See accompanying Notes to the Financial Statements. $63,273 $63,273 1987 Actual $ 2,000 2,000 2,000 61,273 $63,273 VILLAGE OF DEERFIELD, ILLINOIS FEDERAL REVENUE SHARING FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL FOR THE YEAR ENDED APRIL 30, 1988 1988 Budget Actual Revenues Intergovernmental Entitlements Miscellaneous Interest Total Revenues Expenditures Miscellaneous Excess of Revenues over Expenditures before Other Financing (Uses) Other Financing (Uses) Operating Transfers (Out) General Fund Excess (Deficiency) of Revenues over Expenditures and Other Uses Fund Balance May 1 April 30 See accompanying Notes to the Financial Statements. 1987 Actual $ 25,434 10,433 35,867 15,000 20,867 $(2,807) (130,000) (2,807) (109,133) 2,807 111,940 $ 2,807 75 VILLAGE OF DEERFIELD, ILLINOIS MOTOR FUEL TAX FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL FOR THE YEAR ENDED APRIL 30, 1988 1988 1987 Budget Actual Actual Revenues Intergovernmental Allotments Earned $295,000 $293,696 $294,011 Miscellaneous Interest 20,000 24,063 15,364 Other 5,275 698 Total Revenues 315,000 323,034 310,073 Expenditures Highways and Streets Street Maintenance 180,000 180,000 170,000 Street Resurfacing and Renovation Program 57,000 48,982 88,620 Total Expenditures 237,000 228,982 258,620 Excess of Revenues over Expenditures $ 78,000 94,052 51,453 Fund Balance May 1 307,798 256,345 April 30 $401,850 $307,798 See accompanying Notes to the Financial Statements. VILLAGE OF DEERFIELD, ILLINOIS TRANSPORTATION FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL FOR THE YEAR ENDED APRIL 30. 1988 Revenues Intergovernmental Grant Expenditures Miscellaneous Transportation Excess (Deficiency) of Revenues over Expenditures before Other Financing Sources Other Financing Sources Operating Transfers In General Fund Excess of Revenues and Other Sources over Expenditures Fund Balance May 1 April 30 1988 Budget Actual $ 5,000 7,000 (2,000) 2,000 See accompanying Notes to the Financial Statements. $5,022 1987 Actual $ 3,477 5,117 4,636 (95) (1,159) 2,000 2,000 - 1,905 841 5,095 4,254 $7,000 $ 5,095 1 1 H I DEBT SERVICE FUND 1 IFund Description IDebt Service Fund ' Debt Service Fund - To account for the accumulation of resources for the payment of General Long -Term Debt. 1 a 11 1 1 1 77 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS DEBT SERVICE FUND BALANCE SHEET APRIL 30. 1988 1988 1987 ASSETS Cash and Investments $1,762,020 $1,151,764 Receivables Property Taxes 968,191 975,878 Accrued Interest 13,387 35,125 Due from Other Funds 11,515 56,490 Total Assets $2,755,113 $2,219,257 LIABILITIES AND FUND BALANCE Liabilities Interest Payable $ 24,899 $ 29,701 Due to Other Funds 2,234 10,650 Deferred Property Taxes 1,096,826 1,097,942 Total Liabilities 1,123,959 1,138,293 Fund Balance Reserved for Debt Service 1,631,154 1,080,964 Total Liabilities and Fund Balance $2,755,113 $2,219,257 See accompanying Notes to the Financial Statements. 78 ' 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. 1988 Revenues Taxes Property Taxes Replacement Taxes Miscellaneous Interest Other Total Revenues Expenditures Debt Service Principal Retirement Interest Fiscal Charges Other Total Expenditures Excess (Deficiency) of Revenues over Expenditures before Other Financing Sources (Uses) Other Financing Sources (Uses) Operating Transfers In (Out) General Fund Tax Incremental Finance District 1 Fund Capital Improvements - Series A Fund Capital Improvements - Series B Fund General Obligation Bond Proceeds Payment to Escrow for Bond Redemption Excess (Deficiency) of Revenues and Other Sources over Expenditures and Other Uses Fund Balance May 1 April 30 1988 1987 Budget Actual Actual $1,114,826 $ 1,148,224 $ 1,153,191 29,000 48,682 49,201 80,000 127,932 135,183 1,391 1,223,826 1,326,229 1,337,575 525,000 11,630,000 900,924 750,006 1,000 835 310,088 8,714 1,481,226 1,737,012 12,389,555 (257,400) (410,783) (11,051,980) (4,000) 222,400 222,400 208,712 (292,444) (202,661) 10,738,573 11,000,000 (10,000,000) 222,400 960,973 10,709,607 $ (35,000) 550,190 (342,373) See accompanying Notes to the Financial Statements. 1,080,964 1,423,337 $ 1,631,154 $ 1,080,964 1 1 1 I I 1 1 1 1 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS DEBT SERVICE FUND SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL FOR THE YEAR ENDED APRIL 30. 1988 Debt Service Sewerage Improvement Bond Series of 1973 Principal Interest Sewerage Treatment Facility Bond Series of 1973 Principal Interest Corporate Purpose Bond Series of 1983 Principal Interest Corporate Purpose Bond Series 1982 Principal Interest Corporate Purpose Bond Series 1982-A Principal Interest Corporate Purpose Bond Series of 1986 Principal Interest Fiscal Charges Other - Bond Issue Costs Total Expenditures Budget $1,481,226 Actual $ 75,000 17,975 125,000 36,625 125,000 17,750 25,000 40,962 50,000 28,750 125,000 758,862 1,000 310,088 ei 717 Ain r11 11 1 1 I I CAPITAL PROJECT FUNDS 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. 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 1 Fund Established in 1982 to provide funds for land acquisition and improvements to the Ij Village of Deerfield Tax Increment Financing District. Tax Incremental Finance District 2 Fund Established in 1987 to provide funds for land acquisition and improvements to the Village of Deerfield Tax Increment Financing District. Capital Improvements Series A Fund Established in December, 1984 to provide funds for Storm Sewer Imp rovements, provements, 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 41 overpass at Kates Road. Vehicle Replacement Fund Established to account for the funds annually set aside for the eventual replacement of certain vehicles. oo v o n a, 04 00 M 01 C11 (n C-4 Lf) 00 0 [7�y pop O VJ1 0' O N !�j �p �-� '••� O N N1 O H r p pp N PI' 00 .r ^ N N 018�0 cl� ell Ln co ^ Ln N 0 C 1,401 d O f'1 N O 00 Ln p r- n o c f9 m M 00$ 0 rn u ^ o r ;. �yy yyy c ' s u� o yr � N N O M Vl n JC4 1� d C T f+l Iq ol n n v H d 0 � N NO, CL (� H O� p pp p^pp O' y In 8 n C'�1 88 N n u1 f'1 O c0 N In N f`l9 to v} -. CO o g CD�� QN M V) � l`�1 en N V). N W ^ N I N N n n U W VJ 4T VT N NN ul U U t A 1 1 1 1 1 1 1 1 1 C I� � II II O y rt Ay Cl ^�rl (D rryy (Cnnryp � (�ppD' v � � 7NC 1 III II I I I N I In N N N Noo N In N N Np N N N yN� pp� �pNp p pp N Op\ O ��-' p� y�j V N N H V O In F O� N w 1 O� p+ O 07 F y� Q�Fjj ODD QOFpp ODD In IQ Lnn QDD p00 O O V NI D` OD W O� 000 +pp eo Vpp �O�pp N r pU OD W iA ONNE O� lJ (J W W N �Np V V V OwD RV V O p�p N O N N O N py�+ N F p0% OD pap, OD V 10 F 00 O� b Qp V yN�� F ON Op V T F OOD pVp In N W �Cp N N IF 80. 1 89(31 v v N V W N W O, In � W N pOpp pOpp p �pNp pF� VNi F F 10 O g W L�eoIWJ� O r v F N V N lJ O W F OWO N V DD co.V.. lFn lWn v ID F V N W Q\ O �p N W N pOp F W In H VWi pNp�O O� In N p�pppl OD ONI�D O, In W (� A ONO W N i8 ��co ww� � � w ��o O� 041 I �I i 11 i 1 I 1 SPECIAL ASSESSMENT FUNDS IFund Descriptions ' Special Assessment Funds Special Assessments 3-84 Fund - This group of special assessments was issued prior to 1930 for various municipal projects. Special Assessment 111 Fund - This fund set up in 1974 to account for the collec- tion and disbursement of funds for the improvement of portions of Wilmot Road and Berkeley Court by construction of concrete curb and gutter, sidewalks and a bituminous transition pavement and including a storm drainage system where necessary. Special Assessment 112 Fund - This fund set up in 1975 to account for the collec- tion and disbursement of funds for the construction of concrete pavement, curb and gutter, sidewalks and a drainage system where necessary along portions of Gordon Terrace and Kenmore. Special Assessment 113 Fund - This fund set up in 1978 to account for the collec- tion and disbursement of funds for the improvement of portions of Waukegan and Northwoods Roads by construction of a Sanitary Sewer. Special Assessment 114 Fund - This fund set up in 1978 to account for the collec- tion and disbursement of funds for the improvement of Kates Road by construction of concrete pavement, curb and gutter, storm sewer and other work necessary and incidental to the improvement. L 11 - I d 1 82 I m# 'o 3 0 .R g / /| � o <f)- 3 . \ B / f Cl)/ m � q| / ƒ / /| � � /� \ tn 2 tn � � 9 � 2 / / / % a% C7% V> V> �® Ln 'o 800E p 2 RSg % E /kk \ R$/ \ / V>-<fj- � � /| / M 7 � 800E / 9 en 2 / k \ ) ca � � 2 % a m / / 2 % \ W k % © -4 `) _ £ 3 % « / .1 g % / ./ 3 ( /.§ ƒ —4 � § \ / / 4 /1 @ % � 1 1 1 1 1 1 1 1 1 1 f 1 1 1 1 C8 p� W CD W m H.[ar] aa N ram• r.1 R y �C�p O (DR r(D- to ( w (DD w r r 'rt 9 �• z rtG• F'• (D >C � � Vi C O (D y 0 O CCH (p a O (D W CA rr F �Cp ro w• r En rt w [r rt rn OON ' 00 v N r O W QO U1 I In un 00 00 O O O � N r W N I�WJt I� IW � I I I INFO �W' rN-• O OWE 00 00 O� W N W p W O r v rp v ON 00 v Oo m In W r r p I~ r W TF 1 t 1 1 1 PROPRIETARY FUND TYPES J I ENTERPRISE FUNDS Fund Descriptions 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. 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 - 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 84 1 1 ASSETS Current Assets Cash and Investments Receivables Property Taxes Accrued Interest Accounts Other Due from Other Funds Inventories 1 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 COMBINING BALANCE SHEET APRIL 30, 1988 Commuter Parking Totals Water Sewerage Refuse Lot 1988 1987 $ 860,539 $ 991,313 $ 52,578 $210,235 $ 2,114,665 $1,897,511 420,303 420,303 378,651 4,289 5,221 3,986 13,496 10,581 392,437 226,781 95,115 714,333 631,703 43,604 26,797 4,370 74,771 34,340 4,173 4,173 735 33,153 7,125 40,278 49,193 2,786 6,888 9,674 1,336,808 1,264,125 580,525 210,235 3,391,693 3,002,714 88,708 88,708 88,708 2,386,194 6,904,600 417,358 9,708,152 5,982,479 13,811,710 18,168,725 $580,525 $627,593 $13,188,553 $9,0732901 $ 110,107 $ 47,953 $ 78,723 $ 845 $ 237,628 $ 232,007 7,774 7,774 5,992 27,030 33,022 49,472 2,867 20,998 539 24,404 13,125 446 3,601 4,047 7,452 119,412 107,356 78,723 1,384 306,875 302,056 45,000 - - - 45,000 90,000 164,412 107,356 78,723 1,384 351,875 392,056 1,961,847 6,379,368 - 379,240 8,720,455 4,937,608 88,708 88,708 88,708 1,596,743 1,682,001 501,802 246,969 4,027,515 3,655,529 1,685,451 1,682,001 501,802 246,969 4,116,223 3,744,237 3,647,298 8,061,369 501,802 626,209 12,836,678 8,681,845 $3,811,710 $8,168,725 $580,525 $627,593 $13,188,553 $9,073,901 I See accompanying Notes to the Financial Statements. ENIERPRISE FUNDS CCHBUMU STAMM OF CHANM IN •Mr r+M CAMAL Increases Contributions from Other Funds Decreases Depreciation that Reduces Contributed Capital Net Increase (Decrease) Account Balances lby 1 April 30 Water Sewerage Refuse $2,012,347 $2,072,000 50,500 224,000 1,961,847 1,848,000 4,531,368 $1,961,847 $6,379,368 See accompanying Notes to the Financial Statements. Commiter Parking Lot Totals $4,084,347 $ 27,000 301,500 - (27,000) 3,782,847 - 406,240 4,937,608 - $379,240 $8,720,455 86 VILLAGE OF DEERFIELD, ILLINOIS ENTERPRISE FUNDS COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS - UNRESERVED FOR THE YEAR ENDED APRIL 30. 1988 Commuter Parking Totals Water Sewerage Refuse Lot 1988 1987 Operating Revenues Charges for Services Water Sales $1,942,437 $1,942,437 $1,795,892 Sewer Charges $ 934,476 934,476 948,122 Refuse Billings $ 453,555 453,555 444,063 Parking Lot Fees $ 91,181 91,181 90,953 Surcharges 101,376 101,376 94,056 Miscellaneous 41,651 34,969 76,620 113,133 Total Operating Revenues 1,984,088 1,070,821 453,555 91,181 3,599,645 3,486,219 Operating Expenses Excluding Depreciation Administration 121,993 167,030 27,613 316,636 312,189 Operations 1,631,914 838,547 929,652 23,182 3,423,295 3,007,529 Total Operating Expenses Excluding Depreciation 1,753,907 1,005,577 957,265 23,182 3,739,931 3,319,718 Operating Income (Loss) before Depreciation 230,181 65,244 (503,710) 67,999 (140,286) 166,501 Depreciation 106,240 249,510 - 30,698 386,448 298,505 Operating Income (Loss) 123,941 (184,266) (503,710) 37,301 (526,734) (132,004) Nonoperating Revenues (Expenses) Interest Income 41,002 56,281 37,764 135,047 107,256 Property Taxes 485,998 485,998 424,717 Interest Expense (3,825) (3,825) (5,738) 37,177 56,281 523,762 - 617,220 526,235 Net Income (Loss) before Operating Transfers 161,118 (127,985) 20,052 37,301 90,486 394,231 Operating Transfers (Out) - - - (20,000) (20,000) (20,000) Net Income (Loss) 161,118 (127,985) 20,052 17,301 70,486 374,231 Other Changes in Retained Earnings - Unreserved Depreciation that Reduces Contributed Capital 50,500 224,000 - 27,000 301,500 212,000 Net Increase in Retained Earnings - Unreserved 211,618 96,015 20,052 44,301 371,986 586,231 Retained Earnings - Unreserved May 1 1,385,125 1,585,986 481,750 202,668 3,655,529 3,069,298 April 30 $1,596,743 $1,682,001 $ 501,802 $246,969 $4,027,515 $3,655,529 See accompanying Notes to the Financial Statements. 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 L8 n z C) ~ ~ a. Co pim w 0 w O co cn CA H w w m m m O w o m m m a. G w G a fD 0 n m a.m o � n a rt a rrr n m n (afA w H. r U> a u) 'U H. m En lD w w rr m Cr En m H. rr En H. rr H. m (n 4j). I I NI N 00 v O O 00 N 1.- In N W In . N W J--- O W O, W >-- N %.0 O r • 00 %0 V N O*l O O d\ n ro H O 03 1-6 el r0 s m ty a w w ~ m n m w p o ro c� n m 0 0 0 n 0 Cl)C o w g rr a a> z m H. W.> wp m crags o 1 a w r c (D w to H. m p M O rr rr ::r Cl)m r t� 0 w >4 rn (D w 0 �-j Cl) H. m rt W m w NI N I -W N O N i-- 1-- 00 ON O ON W N 1� V ON w W W N r- r✓ , r✓ In 11 r 00 V W 0o O 00 �D �D �•' O N O r--• N r �' %D N a% W V In O V r N 00 N %0 N O N V r %D V r; W 1- w O W V 10 O 10 DQ r N 00 V ra% ON O W N i-- 00 m W �0 1. ON r In O O In In O In 1-1 !T W In l.n V w 4- W O� I.— -;l V W In r A In N N V N N O-A 00 07 I.- 00 co N W r r✓ >--• 0 1� )--� V V In In o�, r� ON O V 1-- 00 In V O N N N i� InO%Dr+'n 1� O1 O I.- 1- 1•.- N In w > O V V CD �D tD O N N N f�D O O O M O O O (A In In In m N N N -CA, n 41 w V V O V t-4 pi O X, G �D %D %D O 0 m �D %D 00 r✓ dq n Ll O 1- W In 00 I--• In 00 V 00 10"o N 1- 11 W 11 00 .10 V 00 1. 00 ON O %0 W V %D V V %D >� Ili 00 1- �D 00 O D, r V In N V l n O O W O W 00 V CN O, Vi r-+ 3I 1 1 i 1 1 1 1 1 1 i 1 1 1 1 t 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS WATER FUND BALANCE SHEET APRIL 30. 1988 1988 1987 ASSETS Current Assets Cash and Investments $ 860,539 $ 718,217 Receivables Accrued Interest 4,289 3,566 Accounts - Billed 131,897 85,914 - Unbilled 260,540 261,596 Other 43,604 20,617 Inventories 33,153 40,890 Investment in Joint Venture - HELP 2,786 1,336,808 1,130,800 Restricted Assets Cash and Investments 88,708 88,708 Fixed Assets Cost 3,141,929 1,109,119 Accumulated Depreciation (755,735) (649,495) 2,386,194 459,624 Total Assets $3,811,710 $1,679,132 LIABILITIES AND FUND EQUITY Current Liabilities Accounts Payable $ 110,107 $ 97,020 Compensated Absences Payable 5,992 12,866 Other Payables 2,867 3,546 Due to Other Funds 446 1,867 119,412 115,299 Long -Term Liabilities Revenue Bonds Payable 45,000 90,000 Total Liabilities 164,412 205,299 Fund Equity Contributed Capital 1,961,847 Retained Earnings Reserved - Restricted Accounts 88,708 88,708 Unreserved 1,596,743 1,385,125 Total Retained Earnings 1,685,451 1,473,833 Total Fund Equity 3,647,298 1,473,833 Total Liabilities and Fund Equity $3,811,710 $1,679,132 See accompanying Notes to the Financial Statements. VILLAGE OF DEERFIELD, ILLINOIS STATEMENT OF CHANGES IN RETAINED EARNINGS - RESERVED - RESTRICTED ACCOUNTS FOR THE YEAR ENDED APRIL 30, 1988 Principal and Interest Increases - Decreases - Net Increase (Decrease) - Account Balances May 1 $21,708 April 30 $21,708 Bo nd Depreciation Reserve $15,000 $15,000 See accompanying Notes to the Financial Statements. $52,000 $52,000 Totals $88,708 $88,708 90 ' VILLAGE OF DEERFIELD, ILLINOIS WATER FUND ' STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS - UNRESERVED - BUDGET AND ACTUAL FOR THE YEAR ENDED APRIL 30, 1988 1988 1987 Budget Actual Actual Operating Revenues Charges for Services Water Sales $1,750,000 $1,942,437 $1,795,892 Miscellaneous Permits and Fees 20,000 16,169 35,222 Penalties 24,000 22,154 20,880 ' Other 1,000 3,328 876 Total Operating Revenues 1,795,000 1,984,088 1,852,870 Operating Expenses Excluding Depreciation Administration 125,022 121,993 119,044 Operations Distribution 1,315,664 1,419,254 1,249,222 Maintenance - Mains and Fire Hydrants 165,642 160,341 112,261 Maintenance - Meters 59,346 52,319 37,136 Total Operating Expenses ' Excluding Depreciation 1,665,674 1,753,907 1,517,663 Operating Income before Depreciation 129,326 230,181 335,207 Depreciation - 106,240 61,329 ' Operating Income 129,326 123,941 273,878 Nonoperating Revenues (Expenses) Interest Income 40,000 41,002 39,908 Interest Expense - Revenue Bonds (4,000) (3,825) (5,738) 36,000 37,177 34,170 ' Net Income $ 165,326 161,118 308,048 Other Changes in Retained Earnings - Unreserved ' Depreciation that Reduces Contributed Capital 50,500 - ' Net Increase in Retained Earnings - Unreserved 211,618 308,048 Retained Earnings - Unreserved May 1 1,385,125 1,077,077 30 April $1,596,743 $1,385,125 See accompanying Notes to the Financial Statements. 91 VILLAGE OF DEERFIELD, ILLINOIS WATER FUND SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL FOR THE YEAR ENDED APRIL 30. 1988 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 $ 51,250 5,372 3,700 300 700 8,500 1,000 36,900 1,200 300 500 700 12,000 1,800 45,000 800 170,022 Actual 57,398 7,333 300 659 1,167 10,628 306 25,378 1,429 1,733 1,224 586 12,000 1,852 45,000 166,993 45,000 45,000 125,022 121,993 41,290 41,638 5,900 10,277 6,174 4,830 1,500 1,460 1,100 6,000 5,261 74,500 75,062 1,200 1,720 3,000 860 1,300 827 1,170,000 1,274,619 500 75 92 VILLAGE OF DEERFIELD, ILLINOIS WATER FUND SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL (CONT.) FOR THE YEAR ENDED APRIL 30, 1988 Operations (Cont.) Distribution (Cont.) Motor Vehicle Supplies Chlorine Materials ' Equipment Total Distribution Maintenance - Main and Fire Hydrants Salaries Overtime Part -Time Employee Benefits Contractual Services Motor Vehicle Maintenance Repairs and Maintenance Equipment Rental Miscellaneous Motor Vehicle Supplies Small Tools and Equipment Aggregates Materials Equipment Improvements - Not Buildings Total Less Nonoperating Items Fixed Assets Capitalized Total Maintenance - Main and Fire Hydrants Budget Actual $ 1,000 $ 471 1,000 1.200 1,941 1,315,664 1,419,254 50,010 28,106 11,500 11,862 18,400 16,453 8,232 4,909 33,900 31,407 3,000 4,498 10,500 3,364 1,000 511 400 1,513 1,900 300 299 6,000 10,928 20,500 46,491 590 7,950 165,642 168,881 - 8,540 165,642 160,341 93 VILLAGE OF DEERFIELD, ILLINOIS WATER FUND SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL (CONT.) FOR THE YEAR ENDED APRIL 30. 1988 Budget Actual Operations (Cont.) Maintenance - Meters Salaries $ 36,970 $ 35,442 Overtime 800 670 Part -Time 900 837 Employee Benefits 5,826 4,503 Professional Services 3,000 Travel, Training and Dues 300 Printing and Advertising 1,000 Contractual Services 2,200 675 Motor Vehicle Maintenance 2,000 3,429 Repairs and Maintenance 1,400 244 Miscellaneous 300 96 Supplies 350 Motor Vehicle Supplies 1,000 1,128 Materials 3,000 3,371 Small Tools and Equipment 300 Equipment 16,500 13,847 Total 75,846 64,242 Less Nonoperating Items Fixed Assets Capitalized 16,500 11,923 Total Maintenance - Meters 59,346 52,319 Total Expenses $1,665,674 $1,753,907 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS SCHEDULE OF FIXED ASSETS AND DEPRECIATION FOR THE YEAR ENDED APRIL 30, 1988 Assets Balances Balances May 1 Additions Deletions April 30 Water System $ 787,751 $2,020,297 $2,808,048 Equipment and Automotive 321,368 12,513 333,881 $1,109,119 $2,032,810 - 3,141,929 Accumulated Depreciation Balances Balances May 1 Provisions Deletions April 30 Water System $ 484,548 $ 70,201 $ 554,749 Equipment and Automotive 164,947 36,039 200,986 $ 649,495 $ 106,240 - 755,735 Net Asset Value $2,386,194 94 95 VILLAGE OF DEERFIELD, ILLINOIS SEWERAGE FUND BALANCE SHEET APRIL 30, 1988 1988 1987 ASSETS Current Assets Cash and Investments $ 991,313 $ 922,429 Receivables Accrued Interest 5,221 5,265 Accounts - Billed 57,908 33,784 - Unbilled 168,873 158,972 Other 26,797 13,723 Inventories 7,125 8,303 Investment in Joint Venture - HELP 6,888 1,264,125 1,142,476 Fixed Assets Cost 8,560,430 6,481,119 Accumulated Depreciation (1,655,830) (1)406,320) 6,904,600 5,074,799 Total Assets $ 8,168,725 $ 6,217,275 LIABILITIES AND FUND EQUITY Current Liabilities Accounts Payable $ 47,953 $ 52,002 Accrued Payroll 7,774 Compensated Absences Payable 27,030 36,606 Other Payables 20,998 9,187 Due to Other Funds 3,601 2,126 Total Liabilities 107,356 99,921 Fund Equity Contributed -Capital 6,379,368 4,531,368 Retained Earnings - Unreserved 1,682,001 1,585,986 Total Fund Equity 8,061,369 6,117,354 Total Liabilities and Fund Equity $ 8,168,725 $ 6,217,275 See accompanying Notes to the Financial Statements. 1 96 1 1 1 11 VILLAGE OF DEERFIELD, ILLINOIS SEWERAGE FUND STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS - UNRESERVED - BUDGET AND ACTUAL FOR THE YEAR ENDED APRIL 30, 1988 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) 1988 1987 Budget Actual Actual $ 940,000 $ 934,476 $ 948,122 30,000 45,325 44,262 56,051 49,794 20,000 18,610 41,230 12,000 8,932 11,485 2,000 7,427 3,440 1,004,000 1,070,821 1,098,333 171,563 167,030 171,484 632,046 613,027 556,766 124,496 84,760 93,028 171,250 140,760 90,773 1,099,355 1,005,577 912,051 (95,355) 65,244 186,282 68,500 249,510 206,478 (163,855) (184,266) (20,196) 50,000 56,281 50,343 $ (113,855) (127,985) 30,147 Other Changes in Retained Earnings - Unreserved Depreciation that Reduces Contributed Capital Net Increase in Retained Earnings - Unreserved Retained Earnings - Unreserved May 1 IApril 30 11 See accompanying Notes to the Financial Statements. 224,000 185,000 96,015 215,147 1,585,986 1,370,839 ci AQI) nni ci SQS ORA ' 97 ' VILLAGE OF DEERFIELD, ILLINOIS SEWERAGE FUND SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL ' FOR THE YEAR ENDED APRIL 30, 1988 Budget Actual , Administration Salaries $ 51,250 $ 55,653 Overtime 500 Employee Benefits 5,213 7,613 Professional Services 2,200 300 Travel, Training and Dues 200 223 , Printing and Advertising 100 616 Communications 2,900 2,655 Insurance 90,300 82,258 Motor Vehicle Maintenance 900 120 ' Repairs and Maintenance 1,300 164 Miscellaneous Supplies 700 600 946 732 , Motor Vehicle Supplies 700 1,810 Occupancy 12,000 12,000 Apparel 1,500 1,262 ' Contractual Services 1,200 678 Total Administration 171,563 167,030 ' Operations Treatment Plant , Salaries 246,500 252,520 Overtime 7,500 9,142 Part -Time 4,100 4,386 Employee Benefits 33,246 29,563 ' Professional Services 5,000 Travel, Training and Dues 900 1,401 Printing and Advertising 1,000 153 , Communications 3,400 7,338 Contractual Services 34,500 23,024 Utility Services 205,300 175,533 ' Motor Vehicle Maintenance 3,000 1,968 Repairs and Maintenance 53,000 61,914 Equipment Rental 1,000 1,183 Supplies 8,600 9,577 ' Motor Vehicle Supplies 6,000 7,901 Chlorine Aggregates 7,000 2,500 11,553 3,797 ' Materials 4,000 5,863 Street Signs 300 98 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS SEWERAGE FUND SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL FOR THE YEAR ENDED APRIL 30, 1988 Budget Actual Operations (Cont.) Treatment Plant (Cont.) Small Tools and Equipment $ 500 $ 456 Apparel 1,700 1,329 Miscellaneous 3,000 3,825 Equipment 19,500 6,959 Total 651,546 619,385 Less Nonoperating Items Fixed Assets Capitalized 19,500 6,358 Total Treatment Plant 632,046 613,027 Cleaning and Maintenance Salaries 56,260 46,177 Overtime 4,400 2,468 Part -Time 2,400 2,289 Employee Benefits 7,536 5,910 Contractual Services 10,000 616 Motor Vehicle Maintenance 4,000 2,561 Repairs and Maintenance 5,000 2,604 Equipment Rental 3,000 240 Miscellaneous 2,000 1,063 Supplies 20,100 15,444 Motor Vehicle Supplies 1,500 579 Aggregates 1,000 1,326 Materials 7,000 3,278 Equipment 3,000 953 Small Tools and Equipment 300 205 Total 127,496 85,713 Less Nonoperating Items Fixed Assets Capitalized 3,000 953 Total Cleaning and Maintenance 124,496 84,760 99 VILLAGE OF DEERFIELD, ILLINOIS SEWERAGE FUND SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL (CONT.) FOR THE YEAR ENDED APRIL 30, 1988 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 77,750 2,100 1,200 12,000 41,000 5,500 7,500 1,000 2,000 2,000 5,000 14,000 171,250 Actual 69,581 302 1,017 8,720 40,684 2,967 3,966 372 2,690 1,424 8,989 Ai nns s77 100 VILLAGE OF DEERFIELD, ILLINOIS SEWERAGE FUND SCHEDULE OF FIXED ASSETS AND DEPRECIATION FOR THE YEAR ENDED APRIL 30, 1988 Sewer System and Plant Equipment and Automotive Sewer System and Plant Equipment and Automotive Net Asset Value Assets Balances Balances May 1 Additions Deletions April 30 $6,271,360 $2,072,000 $8,343,360 209,759 7,311 217,070 $6,481,119 $2,079,311 - 8,560,430 Accumulated Depreciation Balances May 1 Provisions Deletions $1,276,569 $ 216,330 129,751 33,180 c i AnA tin S ?LQ S t n Balances April 30 $1,492,899 162,931 1,655,830 tk Qnh Ann 101 VILLAGE OF DEERFIELD, ILLINOIS BALANCE SHEET APRIL 30. 1988 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 Due to Other Funds Total Liabilities Fund Equity Retained Earnings - Unreserved Total Liabilities and Fund Equity See accompanying Notes to the Financial Statements. 1988 1987 $ 52,578 $ 92,341 420,303 378,651 3,986 1,750 17,855 19,121 77,260 72,316 4,370 4,173 735 $580,525 $564,914 $ 78,723 $ 79,705 3,459 78,723 83,164 501,802 481,750 $580,525 $564,914 102 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS - UNRESERVED - BUDGET AND ACTUAL FOR THE YEAR ENDED APRIL 30, 1988 1988 1987 Budget Actual Actual Operating Revenues Charges for Services Refuse Billing $ 437,000 $ 453,555 $ 444,063 Operating Expenses Administration 15,000 27,613 21,661 Operations Contractual Services 900,000 929,652 842,129 Total Operating Expenses 915,000 957,265 863,790 Operating Income (Loss) (478,000) (503,710) (419,727) Nonoperating Revenues (Expenses) Interest Income 10,000 37,764 17,005 Property Taxes 475,000 485,998 424,717 485,000 523,762 441,722 Net Income $ 7,000 20,052 21,995 Retained Earnings - Unreserved May 1 481,750 459,755 April 30 $ 501,802 $ 481,750 See accompanying Notes to the Financial Statements. 103 VILLAGE OF DEERFIELD, ILLINOIS COMMUTER PARKING LOT FUND BALANCE SHEET APRIL 30, 1988 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. 1988 1987 $ 210,235 $ 164,524 691,458 691,458 (274,100) (243,402) 417,358 448,056 $ 627,593 $ 612,580 $ 845 $ 3,280 539 392 1,384 3,672 379,240 406,240 246,969 202,668 626,209 608,908 $ 627,593 $ 612,580 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 104 VILLAGE OF DEERFIELD, ILLINOIS COMMUTER PARKING LOT FUND STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS - UNRESERVED - BUDGET AND ACTUAL FOR THE YEAR ENDED APRIL 30, 1988 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 1988 Budget Actual 1987 Actual $ 91,000 $ 91,181 $ 90,953 29,000 23,182 26,214 62,000 67,999 64,739 - 30,698 30,698 62,000 37,301 34,041 (20,000) (20,000) (20,000) $ 42,000 17,301 14,041 See accompanying Notes to the Financial Statements. 27;000 27,000 44,301 41,041 202,668 161,627 $246,969 $202,668 105 VILLAGE OF DEERFIELD, ILLINOIS COMMUTER PARKING LOT FUND SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL FOR THE YEAR ENDED APRIL 30, 1988 Budget Actual Operations Parking Lots - Village and Federal Funds Salaries $ 3,400 $ 3,198 Benefits 250 229 Insurance 400 311 Utility Services 3,500 2,633 Repairs and Maintenance 1,000 661 Supplies 500 216 Aggregates 500 Equipment 500 Property Rentals 7,500 7,440 Materials 800 160 Total 18,350 14,848 Less Nonoperating Items Fixed Assets Capitalized 500 - Total Parking Lots - Village and Federal Funds 17,850 14,848 Parking Lots - Village Construction Salaries 3,900 3,347 Overtime 491 Benefits 200 244 Insurance 350 311 Utility Services 3,900 3,685 Repairs and Maintenance 1,000 55 Supplies 500 188 Aggregates 200 Materials 1,000 13 Equipment 100 Total Parking Lots - Village Construction 11,150 8,334 Total Operating Expenses $29,000 $23,182 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS COMMUTER PARKING LOT FUND SCHEDULE OF FIXED ASSETS AND DEPRECIATION FOR THE YEAR ENDED APRIL 30. 1988 Assets Balances Balances May 1 Additions Deletions April 30 Land $ 77,500 Parking Lot 613,958 $691,458 Balances May 1 Parking Lot $243,402 C IIAI Any Net Asset Value $ 77,500 613,958 691,458 Accumulated Depreciation Balances Provisions Deletions April 30 $30,698 - $274,100 $30,698 - 274,100 $417,358 WIN I INTERNAL SERVICE FUND 'I LJ 1 Fund 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 11 107 VILLAGE OF DEERFIELD, ILLINOIS GARAGE FUND BALANCE SHEET A-- nn I nnn 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. 1988 1987 $ 1,618 12,675 $13,281 34,091 33,010 $ 48,384 $46,291 $ 67,268 $40,200 3,693 5,224 9,255 8,028 1,470 1,144 81,686 54,596 (33,302) (8,305) $ 48,384 $46,291 108 VILLAGE OF DEERFIELD, ILLINOIS GARAGE FUND STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS - BUDGET AND ACTUAL FOR THE YEAR ENDED APRIL:30. 1988 Operating Revenues Charges for Services Billings Operating Expenses Operations Net Income (Loss) Retained Earnings May 1 April 30 1988 Budget 1987 Actual $148,300 $151,354 $125,369 148,990 176,351 150,335 $ (690) (24,997) (24,966) See accompanying Notes to the Financial Statements. (8,305) $(33,302) 16,661 $ (8,305) 109 VILLAGE OF DEERFIELD, ILLINOIS STATEMENT OF CHANGES IN FINANCIAL POSITION FOR THE YEAR ENDED APRIL 30. 1988 Cash Was Provided By Increase in Current Liabilities Cash Was Used To Fund Operations Net Loss Increase Current Assets Decrease Current Liabilities Net Increase (Decrease) Cash and Investments May 1 April 30 See accompanying Notes to the Financial Statements. 1988 1987 $ 22 - 24,997 $ 24,966 2,093 6,429 1,561 27,090 32,956 (27,068) (32,956) (40,200) (7,244) $(67,268) $(40,200) 110 VILLAGE OF DEERFIELD, ILLINOIS GARAGE FUND SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL FOR THE YEAR ENDED APRIL 30. 1988 Budget Actual Operations Public Works Department Salaries $ 62,.440 $ 64,419 Overtime 5,300 7,691 Employee Benefits 8,300 7,630 Apparel 500 360 Travel, Training and Dues 500 161 Printing and Advertising 400 Insurance 6,800 6,379 Miscellaneous 200 527 Professional Services 50 Contractual Services 100 181 Utility Services 1,500 813 Repairs and Maintenance 5,000 5,272 Supplies 51,100 77,056 Motor Vehicle Supplies 800 353 Equipment 2,900 2,872 Communications 1,100 859 Materials 500 348 Small Tools and Equipment 1,500 1,430 Total Operating Expenses $148,990 $176,351 ri 11 FIDUCIARY FUND TYPES C 1 1 11 11 TRUST AND AGENCY FUNDS r ' Fund Descriptions rPolice 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. Corporate Purpose Bond Series of 1987 Redemption Fund 1 Is used to Account for Investments held in escrow to pay future prinicipal and interest requirements on the Corporate Purpose Bond Series of 1987. 11 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 A O W i. t.- • ry v1 c'rt� cn Ln Q� N 0000IT d 00 m Nc 1 r" O T O .-i N I pOi cn L cn p� a �o Oj M O •G cM M 00N N QJ 00 --� Pa i3 C }�w o g E-� @ �O O co tlT 111 � �1 N N 0��pp ^ 00 0000 u 1 O .t 111 -Zt -11 �O CT 't a uZ r — I, n O .t Ln �O ��pNOnO� �t c•MO "O C�)rp�pO n , . ON LnO'oOcn 0000 c000uu'1'� cm, 00 O O O 00 'n v O 'n a% W N •-••� �t I� N N M a% Is Ln \0 ( Ln Ln a W O 00 00 O O � Ln � I OI I 112 VILLAGE OF DEERFIELD, ILLINOIS EXPENDABLE TRUST FUND CORPORATE PURPOSE BOND SERIES OF 1987 STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE FOR THE YEAR ENDED APRIL 30, 1988 Revenues - Interest $421,500 Expenditures - Interest 421,500 Excess of Revenues over Expenditures - Fund Balance May 1 - April 30 - 1 1 1 1 1 1 1 1 113 VILLAGE OF DEERFIELD, 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, 1988 Operating Revenues Taxes Property Taxes Replacement Taxes Contributions Employee Contributions Miscellaneous Interest Other Gain on Sale of Investments Total Operating Revenues Operating Expenses Benefits and Refunds Pension Payments Separation Refunds Miscellaneous Filing Fee Total Operating Expenses Income before Operating Transfers Operating Transfers In General Fund Net Income Fund Balances May 1 April 30 1988 1987 Budget Actual Actual $140,000 $ 144,528 $ 174,880 5,500 5,496 5,554 104,000 107,902 99,923 425,000 473,179 381,538 218 77,330 674,500 731,323 739,225 135,000 87,859 83,885 20,000 17,050 500 53 99 155,500 87,912 101,034 519,000 643,411 638,191 - - 900 $519,000 643,411 639,091 See accompanying Notes to the Financial Statements. 4,411,629 3,772,538 $5,055,040 $4,411,629 y�r.l VILLAGE OF DEERFIELD, ILLINOIS TRUST AND AGENCY FUNDS POLICE PENSION FUND STATEMENT OF CHANGES IN FINANCIAL POSITION FOR THE YEAR ENDED APRIL 30, 1988 Cash Was Provided By Operations Net Income Decrease in Current Assets Cash Was Used To Decrease Current Liabilities Net Increase Cash and Investments May 1 April 30 See accompanying Notes to the Financial Statements. 1988 1987 $ 643,411 $ 639,091 25,657 13,419 669,068 652,510 1,406 122 667,662 652,388 4,171,671 3,519,283 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 �N, �..� 115 VILLAGE OF DEERFIELD, ILLINOIS AGENCY FUNDS COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES FOR THE YEAR ENDED APRIL 30. 1988 Balances Balances May 1 Increase Decrease April 30 All Funds ASSETS Cash and Investments $ 73,274 $ 93,187 $166,461 Receivables - Other 31 31 Due from Other Funds 1,214 $ 1,214 Assets Held by Agents for Deferred Compensation Plan (Market Value) 639,889 108,983 32,198 716,674 Total Assets $714,377 $202,201 $33,412 $883,166 LIABILITIES Accounts Payable $ 4,781 $ 4,320 $ 461 Deposits Payable 66,949 $ 88,375 155,324 Due to Other Funds 2,758 7,949 10,707 Due to Participants 639,889 108,983 32,198 716,674 Total Liabilities $714,377 $205,307 $36,518 $883,166 Deposit Fund ASSETS Cash and Investments $ 73,274 $ 93,187 $166,461 Receivables - Other 31 31 Due from Other Funds 1,214 $ 1,214 Total Assets $ 74,488 $ 93,218 $ 1,214 $166,492 LIABILITIES Accounts Payable $ 4,781 $ 4,320 $ 461 Deposits Payable 66,949 $ 88,375 155,324 Due to Other Funds 2,758 7,949 10,707 Total Liabilities $ 74,488 $ 96,324 $ 4,320 $166,492 Deferred Compensation Plan Fund ASSETS Assets Held by Agents for Deferred Compensation Plan (Market Value) $639,889 $108,983 $32,198 $716,674 LIABILITIES Due to Participants $639,889 $108,983 $32,198 $716,674 See accompanying Notes to the Financial Statements. 1 1 F u L, r-, L ACCOUNT GROUPS 1 7 1 C HI GENERAL FIXED ASSETS ACCOUNT GROUP 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 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS GENERAL FIXED ASSETS ACCOUNT GROUP SCHEDULE OF GENERAL FIXED ASSETS - BY SOURCE APRIL 30. 1988 GENERAL FIXED ASSETS Land $2,190,722 Buildings and Improvements 1,314,850 Vehicles 490,037 Equipment 1,299,496 General Revenues General Obligation Bonds Installment Contracts $5,295,105 INVESTMENT IN GENERAL FIXED ASSETS $3,395,105 1,500,000 400,000 ec ooc Inc 116 1 1 1 1 1 1 1 1 1 1 1 LIT ro ro 0 ro o' m d � w w ri rt o � w 0 rt rn O N x m C G cn rt m A. a rt n H. rt 1.4 N � O �o �• � p a V 41 W �O N N O O 1- q O W I-- O C G A. V In I.- m a r• co In V In m Qq to t-n to to 0 O O O O ft En to to C %.c O r., ;:r o w r w W Vt 00 O m V .01 W O w 4- rn rn m o� O co 00 rt In N ►-• H N �O V In 0 W rt I.- rn rn w O 1..- V 1.+ In C , r 00 a ro H r W O �O 00 00 1 1 1 1 1 1 1 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, 1988 Balances Balances Function and Activity May 1 Additions Deletions April 30 General Government $1,144,852 $535,772 $140,806 $1,539,818 Public Safety 2,713,915 82,561 2,805 2,793,671 Public Works 834,239 137,727 10,350 961,616 $4,693,006 $756,060 $153,961 $5,295,105 118 GENERAL LONG TERM DEBT ACCOUNT GROUP C' 1 ' General Long -Term Debt Account Group I To account for the long-term portion of the Village's Bond Issues and Installment Contracts. 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 cl cl Cf.. i-� cn %, ppcn� OI N %C �1 Ocn N N Ln n O O � <p cn ~ O Lr) .� M c41U N n �Q > N Cry-2 ON 00 1.4 00 ° .. � ON rn QQ �5 CR av s 44 w bH o S IS 119 SUPPLEMENTARY DATA ' 120 ' VILLAGE OF DEERFIELD, ILLINOIS ILLINOIS MUNICIPAL RETIREMENT FUND ' REQUIRED SUPPLEMENTARY INFORMATION ANALYSIS OF FUNDING PROGRESS APRIL 30, 1988 (1) (4) (6) ' Net Assets Unfunded Unfunded Pension Available (2) (3) Pension (5) Benefit Obligation ' for Benefits Fiscal (Lower of Cost Pension Benefit Percentage Benefit Funded Obligation Annual Covered as a Percentage of Covered Payroll Year or Market) Obligation (1) t (2) (2) (1) Payroll (4) - (5) ' 1988 $1,785,417 $3,229,435 55.29% $1,444,018 $2,292,114 63.00% ' (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 I this percentage, the stronger the PERS. VILLAGE OF DEERFIELD, ILLINOIS ' POLICE PENSION FUND REQUIRED SUPPLEMENTARY INFORMATION ' ANALYSIS OF FUNDING PROGRESS APRIL 30, 1988 (1) (4) (6) Net Assets Unfunded Unfunded Pension , Available (2) (3) Pension (5) Benefit Obligation for Benefits Pension Percentage Benefit Annual as a Percentage Fiscal (Lower of Cost Benefit Funded Obligation Covered of Covered Payroll , Year or Market) Obligation (1) t (2) (2) - (1) Payroll (4) - (5) 1988 $4,411,629 $5,250,116 80.03% $838,487 $1,244,967 67.35% ' I 1 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. I 122 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS ILLINOIS MUNICIPAL RETIREMENT FUND REQUIRED SUPPLEMENTARY INFORMATION REVENUES BY SOURCE APRIL 30, 1988 Revenues by Source Fiscal Employee Employer Investment Year Contributions Contributions Income Totals 1979 $ 46,349 $ 72,593 N/A $118,942 1980 51,742 84,897 N/A 136,639 1981 59,013 94,605 N/A 153,618 1982 70,160 93,047 N/A 163,207 1983 73,144 '102,696 N/A 175,840 1984 78,651 114,848 N/A 193,499 1985 82,899 127,571 N/A 210,470 1986 89,372 151,116 N/A 240,488 1987 95,745 167,152 N/A 262,897 1988 103,137 179,472 N/A 282,609 123 VILLAGE OF DEERFIELD, ILLINOIS POLICE PENSION FUND REQUIRED SUPPLEMENTARY INFORMATION REVENUES BY SOURCE AND EXPENSES BY TYPE APRIL 30, 1988 Revenues by Source Fiscal Employee Employer Investment Year Contributions Contributions Income Totals 1979 $ 55,345 $106,082 $ 73,221 $234,648 1980 60,413 128,163 86,824 275,400 1981 67,138 124,536 109,761 301,435 1982 74,509 109,258 111,758 295,525 1983 76,123 127,124 212,511 415,758 1984 83,022 140,265 265,078 488,365 1985 86,623 156,125 315,417 558,165 1986 97,525 173,723 361,378 632,626 1987 99,923 180,434 458,868 739,225 1988 107,902 150,024 473,397 731,323 Expenses by Type Fiscal Administrative Year Benefits Expenses Refunds Totals 1979 $ 25,060 $ 25 $ 20,343 $ 45,428 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 87,912 124 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS LONG-TERM DEBT REQUIREMENTS SEWERAGE IMPROVEMENT BOND SERIES OF 1973 APRIL 30, 1988 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 4.4y-5.1% December 1 June 1 and December 1 Belleville National Savings Bank PRINCIPAL AND INTEREST REQUIREMENTS Tax Bond Levy Numbers Year Principal 137-151 1986 152-166 1987 $ 75,000 167-181 1988 75,000 182-196 1989 75,000 197-206 1990 50,000 207-216 1991 50,000 $325,000 Interest Totals $ 8,087 $ 8,087 14,337 89,337 10,625 85,625 6,875 81,875 3,750 53,750 1,250 51,250 $44,924 $369,924 Coupons Due on Dec. 1 Amount June 1 Amount 1988 $ 8,087 1988 $ 8,087 1989 6,250 1989 6,250 1990 4,375 1990 4,375 1991 2,500 1991 2,500 1992 1,250 1992 1,250 $22,462 $22,462 125 VILLAGE OF DEERFIELD, ILLINOIS LONG-TERM DEBT REQUIREMENTS SEWERAGE TREATMENT FACILITIES BOND SERIES OF 1973 APRIL 30, 1988 Date of Issue Date of Maturity Authorized Issue. Actual Issue Denomination of Bonds Interest Rate Principal Maturity Date Interest Dates Payable at Bond Numbers 241-265 266-296 297-315 316-340 341-370 371-400 Tax Levy Year 1986 1987 1988 1989 1990 1991 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 Principal Interest Totals $ 16,812 $ 16,812 $125,000 30,562 155,562 125,000 24,375 149,375 125,000 18,125 143,125 150,000 11,250 161,250 150,000 3,750 153,750 $675,000 $104,874 $779,874 Coupons Due on Dec. 1 Amount June 1 Amount 1988 $16,812 1988 $16,812 1989 13,750 1989 13,750 1990 10,625 1990 10,625 1991 7,500 1991 7,500 1992 3,750 1992 3,750 $52,437 $52,437 126 VILLAGE OF DEERFIELD, ILLINOIS LONG-TERM DEBT REQUIREMENTS CORPORATE PURPOSE BOND SERIES OF 1982 APRIL 30, 1988 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 16-25 1987 $ 50,000 $ 38,400 $ 88,400 1988 $19,200 1988 $19,200 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 $425,000 $170,950 $595,950 $85,476 $85,474 127 ' VILLAGE OF DEERFIELD, ILLINOIS LONG-TERM DEBT REQUIREMENTS CORPORATE PURPOSE BOND SERIES OF 1982 - A APRIL 30. 1988 Date of Issue Date of Maturity Authorized Issue Actual Issue Denomination of Bonds Interest Rate Principal Payment Date Interest Dates Payable at Bond Numbers 41-50 51-60 61-70 71-80 81-90 91-100 Tax Levy Year 1987 1988 1989 1990 1991 1992 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 Principal Interest Totals $ 50,000 $24,750 $ 74,750 50,000 20,750 70,750 50,000 16,750 66,750 50,000 12,750 62,750 50,000 8,500 58,500 50,000 4,250 54,250 $300,000 $87,750 $387,750 Coupons Due on June 1 Amount Dec. 1 Amount 1988 $12,375 1988 $12,375 1989 10,375 1989 10,375 1990 8,375 1990 8,375 1991 6,375 1991 6,375 1992 4,250 1992 4,250 1993 2,125 1993 2,125 $43,875 $43,875 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS LONG-TERM DEBT REQUIREMENTS CORPORATE PURPOSE BOND SERIES OF 1983 APRIL 30, 1988 Date of Issue December 1, 1983 Date of Maturity December 1, 1988 Authorized Issue $500,000 Actual Issue $500,000 Denomination of Bonds $ 5,000 Interest Rate 8.5% Principal Payment Date December 1 Interest Dates June 1 and December 1 Payable at American National Bank & Trust PRINCIPAL AND INTEREST REQUIREMENTS Tax Bond Levy Numbers Year Principal 76-100 1987 $125,000 Coupons Due on Interest Totals June 1 Amount Dec. 1 Amount $9,000 $134,000 1988 $4,500 1988 $4,500 128 ' 129 VILLAGE OF DEERFIELD, ILLINOIS , LONG-TERM DEBT REQUIREMENTS CORPORATE PURPOSE BOND SERIES OF 1986 ' APRIL 30, 1988 Date of Issue May 1, 1986 Date of Maturity January 1, 2005 ' Authorized Issue $11,000,000 Actual Issue Denomination of Bonds $11,000,000 $ 5,000 ' Interest Rate 6.4% - 7.75% Principal Payment Date January 1 Interest Dates January 1 and July 1 ' Payable at American National Bank & Trust Co. Chicago, Illinois PRINCIPAL AND INTEREST REQUIREMENTS , Tax Levy Coupons Due on Year Principal Interest Totals July 1 Amount Jan. 1 Amount ' 1987 $ 175,000 $ 749,175 $ 924,175 1988 $ 374,587 1989 $-374,588 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 1999 750,000 800,000 362,025 311,025 1,112,025 1,111,025 1999 2000 181,012 155,512 2000 2001 181,013 155,513 ' 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 ' $10,775,000 $7,918,928 $18,693,928 $3,959,458 $3,959,470 , 130 VILLAGE OF DEERFIELD, ILLINOIS LONG-TERM DEBT REQUIREMENTS CORPORATE PURPOSE BOND SERIES OF 1987 APRIL 30, 1988 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 CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS Tax Levy Requirements Coupons Due on Year Principal Interest Totals Apr. 8 Amount Oct. 8 Amount 1987 $ 1,264,500 $ 1,264,500 1989 $ 843,000 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 4213,500 2001 421,500 2000 3,000,000 255,000 3,255,000 2002 127,500 2002 127,500 $10,000,000 $11,635,500 $21,635,500 $6,028,500* $5,607,000* 131 VILLAGE OF DEERFIELD, ILLINOIS LONG-TERM DEBT REQUIREMENTS WATER REVENUE BOND SERIES OF 1960 APRIL 30, 1988 Date of Issue January 1, 1960 Date of Maturity May 1, 1989 Actual Issue $125,000 Denomination of Bonds 1-125 @ $1,000 Interest Rates 4.25% - 4.75% Interest Dates November 1, May 1 Principal Maturity Date May 1 Payable at LaSalle National Bank Chicago PRINCIPAL AND INTEREST REQUIREMENTS Year Bond Coupons Due on Ended Numbers Principal Interest Totals Nov. 1 Amount May 1 Amount 1989 1167125 $10,000 $425 $10,425 1988 $212 1989 $213 132 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS LONG-TERM DEBT REQUIREMENTS WATER REVENUE BOND SERIES OF 1959 APRIL 30. 1988 Date of Issue April 1, 1959 Date of Maturity May 1, 1989 Actual Issue $545,000 Denomination of Bonds 1-545 @ $1,000 Interest Rates 4.25% - 5% Interest Dates November 1 - May 1 Principal Maturity Date May 1 Payable at LaSalle National Bank Chicago Ye ar Bo nd Ended Numbers 1989 511-545 PRINCIPAL AND INTEREST REQUIREMENTS Principal Interest $35,000 $1,488 Coupons Due on Totals Nov. 1 Amount May 1 Amount $36,488 1988 $744 1989 $744 133 VILLAGE OF DEERFIELD, ILLINOIS POLICE PENSION FUND SCHEDULE OF OFFICERS' DEPOSITS APRIL 30, 1988 Balance Balance May 1 Deposits Withdrawals April 30 1050 Kenneth Anderson $ 28,030 $ 3,800 $ 31,830 1075 Leo Anderson 27,692 3,729 31,421 1078 Mark Anfenson 10,514 2,861 13,375 1125 Marcea Ross 21,488 2,020 23,508 1325 Richard Brandt 42,275 4,996 47,271 1335 Kurt Bruno 3,881 2,347 6,228 1350 William Butler 34,256 2,846 37,102 1355 Louis Cacciatore 6,431 2,529 8,960 1400 Robert Charles 32,544 $ 32,544 1550 Gordon Cooper 26,387 26,387 1600 Robert Davenport, Jr. 43,346 4,156 47,502 1700 David P. Ebert 30,322 2,846 33,168 1750 John Elofson 27,869 21847 30,716 1800 William Ennis 22,298 2,700 24,998 1853 Dani Beth Firfer 111 111 1925 Marie Rose Gawne 19,232 2,338 21,570 2000 Robert Hamilton 39,110 3,437 42,547 2100 Thomas Hill 35,378 3,503 38,881 2125 George Hoffman 29,720 2,847 32,567 2225 Kevin K. Keel 1,187 2,107 3,294 2250 Larry Kick 31,524 31,524 2365 Dave Lemmer 7,154 2,846 10,000 2430 Eric Lundahl 14,669 2,846 17,515 2525 Jeffrey McDermott 38,494 3,589 42,083 2715 Robert Ogden 13,224 2,846 16,070 2893 Rand J. Roel 9,697 2,846 12,543 2985 Michael E. Scarry 4,123 21358 6,481 3025 John Sebben 26,837 2,847 29,684 3075 Thomas Sheahan 23,673 23,725 26,398 3125 Thomas Skrabala 33,886 4,160 38,046 3150 John Sliozis 23,173 3,589 26,762 3225 Michael Soler 25,063 2,846 27,909 3235 Melvin Soltwisch 4,755 23394 7,149 3325 Gary Stryker 34,097 3,518 37,615 3500 Larry Tousignant 393079 3,730 42,809 3525 David Turnbaugh 34,770 3,536 38,306 3675 Richard Weil 14,179 2,846 17,025 380A George Hall 93604 9,604 380B David J. Petersen 7,287 7,287 380C Thomas G. Rogge 9,411 9,411 Ross Roel 125 125 $886,770 $101,556 $116,868 $871,458 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 134 VILLAGE OF DEERFIELD, ILLINOIS SCHEDULE OF INSURANCE IN FORCE APRIL 30. 1988 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 The Village of Deerfield is a member of the Municipal Insurance Cooperative Agency. Property, automobile liability, general liability, and workers' compensation are provided under the Agency. The Village of Deerfield is also a member of the High - Level Excess Liability Pool Agency. Excess liability coverage is provided under this agency. 1 � Statistical Section 1 Ij 1 n OD �0p0 N Ln N N 135 000 ao 00 � O M �O LO �p CTS .p In M N cn N m 0000 M n N n O N M ul ^0 n � 0N aI � M pLn 00 oM ^� •--� � Cl� O M M O .� N N n 19 o O 10N oo� Ci cl A N O ' 00 Ln .O N (� Vl 0.0 Cl� O 00 M O ^ US N pp 00 M M� �O : O. 00 OOI -p p c� N Lp M 00 �-� 00 ^ O% N 1, n ol- O O M N Ln c1 Cn Ln - w ^ ill 1-4p .0 -t r- A O I� n N 7 N N000 � � � N %11 00 � 00 m N Obi ON 00 Uy 00 ill N d in �l�l pp � O c^'1 Ln 1.4 --+ 00 M � O 001 Ln d Z6 o N N 0p M 1N� S 1- Ct� Oi r%- n �(3p Obi00 cn U O i�lpl O N Ln Ln .? L �t �t N N N M r 00 - pp M a% o =r I .p N ill �t N V1 c O% N .%0 cal N Cn --IC O N M .MOB N � M 001 0 ONI � 00 -4 Ln � 0000 co O ill m r" cn .--� Oco rj N c0 10 co �o �>.% g v rn v 2 9 v 8 I AE 4 oQ I r�4 ^ , Lns'D � Oi C N N 4 � n O -IIt N ' m N INLp co - I cc 1 Ln cam) N N TO L O LnM O Oil Ln n op co co cli Ln w �O f� �I n � O' � Ln n 1.4 1%0 L tMJ} Lr co �O O c u1 M N c^*1 cn co � n 00 W O� I �cn1' N CN �0 N m ONO ra N M M Ln �O cn 00 N r� O^ L' L VU 00 Ln U1 N O is 8 N M -4 OOpp p� p O O F1 M � O �O 0 cn o a M A 4-4 co o PO w H rl H W £ z 136 VILLAGE OF DEERFIELD, ILLINOIS PROPERTY TAX ASSESSED VALUATIONS, RATES, EXTENSIONS AND COLLECTIONS LAST TEN FISCAL YEARS APRIL 30, 1988 ( See Following Page) r 1 CO t0 N ON nM N N -4 r- n 00 LF) 4 O -t Lr1 N F N D N ppqpp O N �i Ll1 io M N co cl ICI i0 I cn all Q�1 Ln O I Ln CD11 JCL 00 O Ln t0-p 0p01 N Ln ppipp N OC�'1^� �O o0 L N a 8 7 N � r-L n N .i Obi V? VY n yy�� ttl H cU I C40OLn pp �o� -4 O O �1 � � 00 4.1 O^OOCD 00O-.4�p Ln cnnOpcMM M 'D tti 0o0^ N Ln 0 0 Ln Ln ^ a0 ^ apt�p C7� O ^� N � C14 i �t CM) O O Ln -4 � n�a0OLii OO-.O^'^'OI �I I'll �+ 00 1� - C', M m 98 Cl �j L� j Ln p�� N Ln cq M N .�-� --4-1 N 01 CT W Vi � n co Vi Cxp F cmI ppin Lorp� �p N O Cj O.. O I O P4 III CV1-0 MCM.�rI-C? O Ln N 00 M --4 as �C14 LLnpr � 00 m I N VT t? ch � rL t? kk tC -W .4Lb Lr s " O O0O � HMO I N ID a -ill AG O cl CR O 1 0 � rnEl �' a 41 En cb co v Fa O 00 n O� Cl� N CT 0T ME y� 1 1 1 1 1 1 1 N u�N�O�MMtn .70p0O� O� rl N --� �O N M �7 � "* mI 00 cn .•-� k�CO o p cMi}$ONO � c�i Mo J� NO-O OMn -�Opa O C14Q 6 M NM ^"t.-4 M 0I A V> EN -It co TKO O • `-f • • • • • I Ci .I O �cV Ln 7c�inppro L� •--i w Ci Ili •--iw N n w aOw w w � n 0.� 00� c� 1 co cn � �C pppp itl � I CD 000 NO �np Ln ID o F «7 �OONO� ��rr•� w CI co N EN �C N M M N •--� g ��+ N+^^�� N 7 t!} clo-, NO�ON.�OI OII 1� MoO 000CD ONO �-It MOpOp�OM M � M c co M t/} c�+1 N a1 I M O n pp • I M H N O o 0 0 O cD •rl 14 W U1 •ri >4 O U U n V) M li> 00 O� �D n M M M N CM I 00 C4 a% LQ 8 LQ 8 0 U a VILLAGE OF DEERFIELD, ILLINOIS ASSESSED AND ESTIMATED VALUE OF TAXABLE PROPERTY LAST TEN FISCAL YEARS APRIL 30, 1988 Tax Assessed Value Levy Real Personal Railroad Estimated Year Property Property Property Totals Value 1978 $167,268,250 $6,900,001 $35,541 $174,203,792 $526,000,000 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 71L,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 314,961,415 * 25,614 314,987,029 945,000,000 * No longer assessed due to change in Illinois State Statutes. Office of the County Clerk 01% cn� It r- vl� m 00 ,o 139 of 8 0CIS 8 N N C> r- -4 C� OLnr- N � 0000 I N O r H N 4oll N N N •-a O% %-O O n n m N .-1 %D m N 00 1�9 � 00 H u� n M N Cl! 4 N N N lNO\�Ln NNn� M R� .-i � cn O O �t 1.0 llO .t H Lr� %9 C1 N �t 1-4 N N N 00 O cn O �? �t H r C,4 u1 �I 0 0 0 O4 c 1 cn �G ccV —4 00 O M 1� •-i N %O 4 N N N N O O n 1.0 O N pppp �O m 00 0^O � O^ V rl O clam �D N ON N Ncn N aOl O� O I cn O ON ID .�� N N N H O I NpaN � m 00O11D O N 001-4 --4p n OOd �O O 14 ca 4 N N > 18 y y Wpp 8 y �I0 0 Ol � ^ �O O n 00 O N N N N 0 O � O U a U pp .�-4 - L+ a Urj) N •1J O O U N 10 Ln 41 3 U) .y�� Li A Q •.u1 L� co fA it LWF A 1� a) O 1J v1 U U .1 Q) —4 L �Qp 0) r•Lj 4 i+ .y. W U 1�. A •'U•I 4J L 1 .—QIO1 VaSJt Sxroa cb W W W W L l0.� W� cn O A )C V O Nv 10 1 O� � W •CG � A •OOi -c cS7 y 0 uD, Q) J J .j G7 01 c0 O N cd J J .-+ 8 �� • }+ 7 0 ��C�p4��c53� ca w [4yc A 0 VILLAGE OF DEERFIELD, ILLINOIS SPECIAL ASSESSMENT COLLECTIONS LAST TEN FISCAL YEARS APRIL 30, 1988 Fiscal Assessments Year rn11e-*4-r- 1979 $66,386 1980 19,436 1981 21,919 1982 22,078 1983 30,451 1984 16,248 1985 35,075 1986 2,400 1987 5,465 1988 2,106 Data Source Village Records � / 0 \ / \ \ . $ / # - \ \ k ƒ m § @ J a $ _00 /01 \ ) 7100 ( \ / Ili \ ¢ 2 \ / . � # a \ 7 \ 7 10 I ( ® ^ 00 ) § (� §e/$ / Q . § k ° \ \ . R \ \§ \ & _ § \ / \ \ / \ a 4 & © & J )\IGA \ \ $ In 01 \ rIn \ \ \ \ all © � fk kco �e 4 5 k { ] 7 ) a / \ )IV 141 142 ' VILLAGE OF DEERFIELD. ILLINOIS SCHEDULE OF LEGAL DEBT MARGIN ' APRIL 30, 1988 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 Legal Debt Limit - 8.625 Amount of Debt Applicable to Limit Sewerage Improvement Bonds $ 325,000 Sewerage Treatment Facility Bonds 675,000 Corporate Purpose Bond Series 1982 425,000 Corporate Purpose Bond Series 1982-A 300,000 Corporate Purpose Bond Series 1983 125,000 Corporate Purpose Bond Series 1986 10,775,000 Corporate Purpose Bond Series 1987 10,000,000 Available Funds (11,631,154) Legal Debt Margin $314,987,029 $ 27,167,631 10,993,846 $ 16,173,785 1 The Village has available funds in the Debt Service and Expendable Trust Funds ' in the amount of $11,631,154. 1 143 1 1 F 11 1 VILLAGE OF DEERFIELD, ILLINOIS SCHEDULE OF DIRECT AND OVERLAPPING DEBT APRIL 30. 1988 Governmental Unit Village of Deerfield Metropolitan Sanitary District Lake 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 Junior College #532 Total Gross Debt Less Debt Service and Expendable Trust Funds Village of Deerfield Total Gross Debt Less Available Amount (1) Gross Debt $ 22,625,000 645,943,960 48,160,000 4,674,500 1,160,000 18,132,910 2,940,000 165,708 600,000 6,200,000 5,575,000 756,177,078 11,631,154 $744,545,924 (2) * Percentage of Debt Applicable to the Village 100.000% .081 5.109 .026 96.670 3.680 1.752 72.426 6.614 27.739 6.180 ** Village's Share of Debt $22,625,000 523,215 2,460,494 1,215 1,121,372 667,291 51,509 120,016 39,684 1,719,818 344,535 29,674,149 11,631,154 ciA nAl QQS * - 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). (1) Office of the County Clerk (2) Office of the County Clerk k / / 0 )/ � \ 00 \ k ) \ \� = a §� � ) . ƒ cn vi � In \ $ 7� C) ] � §§ _ )�§ ~ lj> � ; § ; | f � _ Q ) / ® R ) � ) | § ) k ) ) A a ) \0 / 144 145 1 1 1 1 1 1 1 1 1 1 1 1 1 1 w N ro .� dy C N L N 77 N m N C Q>� LL L ro 0 O u 1� Cn QLE1 N .7 0 N O>+ L L AU G r5 >pro O U 146 , VILLAGE OF DEERFIELD, ILLINOIS i DEMOGRAPHIC STATISTICS LAST TEN FISCAL YEARS ' APRIL 30, 1988 (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- went ' Year Population Income Age of College ment Percentage 1979 17,753 $34,678 32.0 49.2 4,838 1.0% 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 17,500 47,500 36.8 51.1 3,602 1.3 1988 17,500 48,100 37.2 51.3 3,276 1.1 Data Sources , (1) 1980 - Census figure; 1979 estimated by using 1976-1980 Census data; 1981-1988 derived from data from the Department of Commerce and Community Affairs. (2) 1979-1980, Northeastern Illinois Planning Commission figures; 1981-1988 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. 147 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS PROPERTY VALUE, CONSTRUCTION, AND BANK DEPOSITS LAST TEN FISCAL YEARS APRIL 30. 1988 (1) Commercial Construction (1) Residential (3) Construction (2) Total Fiscal Number Number Year of Units Value of Units 1979 81 $ 5,994,271 50 1980 52 1,580,392 67 1981 59 3,235,868 85 1982 77 9,758,795 86 1983 84 20,369,020 104 1984 52 12,146,201 46 1985 101 34,504,614 50 1986 135 37,746,399 90 1987 79 44,287,589 86 1988 110 21,705,751 51 Data Sources Bank Property Value Deposits Value $ 11176,405 $ 42,531,000 $519,000,000 5,650,240 49,178,000 564,000,000 1,852,788 52,282,000 664,000,000 1,689,832 53,522,000 682,000,000 5,673,638 63,218,000 711,000,000 5,131,160 63,877,000 708,000,000 6,552,552 64,750,000 710,800,000 11,318;142 130,155,000 748,100,000 8,089,179 141,241,000 838,160,000 5,489,656 149,182,000 944,962,000 (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 148 Taxpayers VMC, Inc. Stein and Company Baxter International Lake Cook Plaza Kitchens of Sara Lee Tollway North Deerfield - Saunders Joint Venture Draper and Kramer LaSalle National Bank Flodstrom Construction Data Source Office of the County Clerk VILLAGE OF DEERFIELD, ILLINOIS PRINCIPAL TAXPAYERS APRIL 30, 1988 Business Deerbrook Shopping Center Lake Cook Office Center Office Buildings Shopping Center Bakery Products Tollway North Office Park Parkway North Office Building Deerfield Business Center Office Buildings Office Building Percentage 1987 of Total Assessed Assessed Valuation Valuation $14,506,467 4.6% 12,459,371 4.0 7,971,938 2.5 5,123,953 1.6 4,924,942 1.6 4,890,295 1.5 4,323,926 1.4 3,689,117 1.2 3,187,230 1.0 2,925,439 .9 $64.002.678 20.3% VILLAGE OF DEERFIELD, ILLINOIS MISCELLANEOUS STATISTICS ' APRIL 30, 1988 -' Date of Incorporation 1903 ' Form of Government Manager/Council Geographic Location North Suburban Chicago ' Area 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 2,207,000 gals. Miles of Water Main 70 ' Sewers Sanitary Sewers 65 ' Storm Sewers 46 Building Permits Issued 566 ' Recreation and Culture Number of Parks 131 Acres Number of Libraries 1 ' Number of Volumes (Approx.) 125,300 Employees ' Administration 25 149.