Village CAFR For Year Ended April 30, 1987 (2)ANNUAL
REPORT
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VILLAGE OF DDDNODLD9 RL11
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t
COMPREHENSIVE
�
ANNUAL
FINANCIAL REPORT
t
FOR THE
FISCAL YEAR ENDED
APRIL 30, 1987
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PREPARED BY
GEORGE VALENTINE
FINANCE DIRECTOR
VILLAGE OF DEERFIELD, ILLINOIS.
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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 -ix
FINANCIAL SECTION
AUDITORS' REPORT ON THE FINANCIAL
STATEMENTS
1-2
COMBINED STATEMENTS - OVERVIEW ("Liftable"
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 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
8-39
FINANCIAL STATEMENTS OF INDIVIDUAL FUNDS
GOVERNMENTAL FUND TYPES
GENERAL FUND
General Fund
Financial Statements
Balance Sheet 40
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual 41
TABLE OF CONTENTS (CONT.)
PAGE
FINANCIAL SECTION (CONT.)
GOVERNMENTAL FUND TYPES (CONT.)
GENERAL FUND (CONT.).
Supplemental Statements
Statement of Revenues - Budget and Actual 42
Statement of Expenditures - Budget and Actual 43-45
SPECIAL REVENUE FUNDS
All Funds
Financial Statements
Combining Balance Sheet 46
Combining Statement of Revenues, Expenditures,
and Changes in Fund Balances 47
Municipal Audit Fund
Financial Statements
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual 48
Emergency Services Disaster Fund
Financial Statements
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual 49
Youth Bound Fund
Financial Statements
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual 50
Library Fund
Financial Statements
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual 51
Supplemental Statements
Statement of Expenditures - Budget and Actual 52
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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 Statements
Statement 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
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54-58
59
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62
63
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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 Statements
Statement 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
53
54-58
59
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62
63
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TABLE OF CONTENTS (CONT.)
PAGE
FINANCIAL SECTION (CONT.)
PROPRIETARY FUND TYPES (CONT.)
ENTERPRISE FUNDS (CONT.)
Water Fund
Financial Statements
Balance Sheet
74
Statement of Changes in Retained
Earnings -
Reserved - Restricted Accounts
75
Statement of Revenues, Expenses,
and Changes
in
Retained Earnings - Unreserved
- Budget and Actual
76
Supplemental Statements
Statement of Operating Expenses
-
Budget and Actual
77-79
Statement of Fixed Assets and Depreciation
80
Sewerage Fund
Financial Statements
Balance Sheet
81
Statement of Revenues, Expenses,
and Changes
in
Retained Earnings - Unreserved
- Budget and Actual
82
Supplemental Statements
Statement of Operating Expenses
- Budget and
Actual
83-85
Statement of Fixed Assets and Depreciation
86
Refuse Fund
Financial Statements
Balance Sheet
87
Statement of Revenues, Expenses,
and Changes
in
Retained Earnings - Budget and
Actual
88
Commuter Parking Lot Fund
Financial Statements
Balance Sheet
89
Statement of Revenues, Expenses,
and Changes
in
Retained Earnings - Budget and
Actual
90
Supplemental Statements
Statement of Operating Expenses
- Budget and
Actual
91
Statement of Fixed Assets and Depreciation
92
TABLE OF CONTENTS (CONT.)
PAGE
FINANCIAL
SECTION (CONT.)
PROPRIETARY FUND TYPES (CONT.)
INTERNAL SERVICE •FUND
Garage Fund
Financial Statements
Balance Sheet
93
Statement of Revenues, Expenses,
and Changes in
Retained Earnings - Budget and
Actual
94
Statement of Changes in Financial
Position
95
Supplemental Statements
Statement of Operating Expenses -
Budget and Actual
96
FIDUCIARY FUND TYPES
TRUST AND AGENCY FUNDS
All Funds
Financial Statements
Combining Balance Sheet 97
Statement of Revenues, Expenses, and Changes
in Fund Balance - Budget and Actual
(Pension Trust Fund) 98
Statement of Changes in Financial
Position (Pension Trust Fund) 99
Combining Statement of Changes in Assets and
Liabilities (Agency Funds) 100
ACCOUNT GROUPS
GENERAL FIXED ASSETS ACCOUNT GROUP
Financial Statements
Statement of General Fixed Assets 101
Supplemental Statements
Statement of General Fixed Assets - By Function
and Activity 102
Statement of Changes in General Fixed Assets -
By Function and Activity 103
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TABLE „OF CONTENTS (CONT.)
PAGE
FINANCIAL SECTION (CONT.)
ACCOUNTS GROUPS (CONT.)
GENERAL LONG-TERM DEBT ACCOUNT GROUP
Financial Statements
Statement of General Long -Term Debt 104
SUPPLEMENTARY DATA
Combined Statement of Cash and Investments 105
Long -Term Debt Requirements
Sewerage Improvement Bond Series
of 1973
106
Sewerage Treatment Facilities
Bond
Series of 1973
107
Corporate Purpose Bond Series
of
1983
108
Corporate Purpose Bond Series
of
1982
109
Corporate Purpose Bond Series
of
1982-A
110
Corporate Purpose Bond Series
of
1986
111
Water Revenue Bond Series of
1960
112
Water Revenue Bond Series of
1959
113
Statement of Officer's Deposits
(Police Pension Fund)
114
Statement of Insurance in Force 115
STATISTICAL SECTION
General Governmental Expenditures by Function -
Last Ten Fiscal Years 116
General Governmental Revenues By Source - Last Ten Fiscal Years 117
Property Tax Assessed Valuations, Rates, Extensions and
Collections - Last Ten Fiscal Years 118
Assessed and Estimated Actual Values of Taxable
Property - Last Ten Fiscal Years 119
Property Tax Rates - All Overlapping Governments -
Last Ten Fiscal Years 120
TABLE OF CONTENTS (CONT.)
PAGE
STATISTICAL SECTION (CONT.)
Special Assessment Collections - Last Ten Fiscal Years 121
Ratio of Net General Bonded Debt to Assessed Value
and Net Bonded Debt Per Capita - Last Ten Fiscal Years 122
Statement of Legal Debt Margin 123
Statement of Direct and Overlapping Debt 124
Ratio of Annual Debt Service Expenditures for General
Bonded Debt to Total General Governmental Expenditures -
Last Ten Fiscal Years 125
Statement of Revenue Bond Coverage - Water and Sewer Bonds -
Last Ten Fiscal Years 126
Demographic Statistics - Last Ten Fiscal Years 127
Property Value, Construction, and Bank Deposits -
Last Ten Fiscal Years 128
Principal Taxpayers 129
Miscellaneous Statistics 130
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� Introductory Section
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VILLAGE OF DEERFIELD, ILLINOIS
PRINCIPAL OFFICIALS
APRIL 30, 1987
LEGISLATIVE
VILLAGE BOARD OF TRUSTEES
Bernard Forrest, President
Harriet
Rosenthal
Edwin B.
Seidman
James L.
Marovitz
Vernon E.
Swanson
Cynthia
J. Marty
J. Robert
York
Naomi S. Clampitt, Clerk
ADMINISTRATIVE
Robert Franz, Village Manager
FINANCE DEPARTMENT
George Valentine, Director of Finance/Treasurer
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Cer-t1-flcate of
Achievement
for Excellence
in Financial
_Reporting
Presented to
Tillage of
Deerfield, Illinois
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
April 30, 1986
A Certificate of Achievement for Excellence in Financial
Reporting is presented by the Government Finance Officers
Association of the United States and Canada to
governmental units and public employee retirement
systems whose comprehensive annual financial
reports (CAFR's) are judged to substantially
conform to program standards.
�E OFF
W/UNII[0 SiAIFS� N
f i c N oA o President
6� CORVOIU11014 a �
S EAL,: ��
Executive Director
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850 WAUKEGAN ROAD
October 20, 1987
Mr. Robert Franz, Village Manager
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Ill
DEERFIELD,
945.5000
NOIS
ILLINOIS 60015
Village of Deerfield
Deerfield, Illinois 60015
Dear Mr. Franz:
The Comprehensive Annual Financial Report of the Village of Deerfield
for the fiscal year ending April 30, 1987, is submitted herein. 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 Government l.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 enab.le 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 Village's accounting system,
consideration is given to the adequacy of internal accounting controls.
Internal accounting controls are designed to provide reasonable, but not
absolute, assurance regarding: (1) the safeguarding of assets a ainst
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.
All internal control evaluations occur within the above framework. I
believe that the Village's internal accounting controls adequately
safeguard assets and provide reasonable assurance of proper recording of
financial transactions.
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Budgetary control is maintained at the departmental and subdepartmental
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 - NCGA
Statement 3". In accordance with NCGA Statements 3 and 7, 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 oversignt
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 and others.
The Village considered the following entities when implementing NCGA
Statements 3 and 7. Although these entities are similar in nomenclature
and scope of public service, the criteria in Statement 3 did not require
the inclusion of these entities in the Village's financial statements as
components units principally because the Village does not exercise
oversight responsibility over such entities. Listed below are the
entities that were considered.
Deerfield Bannockburn Fire Proection District
Highland Park Mosquito Abatement District
North Shore Sanitary District
Municipal Insurance Cooperative Agency
(reported as 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, highways and streets, sanitation, health and social services,
cultural, 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.
General Governmental Functions
Revenues for the General Fund, Special Revenue, and Debt Service Funds
a totaled $7,478,586. This is an increase of 14.4% over 1986. Taxes
produced 71.9% of general revenues compared to 63.4% last year. Of the
amount listed as taxes, $2,784,086 was property tax revenue. The prior
Iproperty tax extension was $2,101,602 for an increase of 32.5%. Of the
increase of $682,480 in Property Taxes, $597,006 was in Debt Service.
Sales Tax is also included in the general category of taxes in the
amount of $1,765,031, including $124,805 which represents a one time
speedup in the State of Illinois collections process. Without the one
time change, Sales Tax increased of 4.5%.
1987 REVENUE
Increase
Percent
(Decrease)
Revenue Source
Amount
of Total
from 1986
Taxes
$5,337,545
71.9
$1,229,733
Licenses and Permits
576,740
7.7
40,350
Intergovernmental Rev.
346,420
4.6
(205,508)
Charges for Services
228,204
3.1
84,164
Fines and Forfeits
257,723
3.4
(131,829)
Miscellaneous Revenues
695,954
9.3
(76,359)
TOTAL
$7,478,586
100.00
$ 940,551
The current year (1985) 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 1986 and the preceding three levy years is as follows:
1986
1985
1984 1983
Purpose
Tax Rate*
Tax Rate*
Tax Rate* Tax Rate*
General Fund
.117
.168
.183 .191
Special Revenue Funds
.459
.483
.446 .427
General Obligation Debt
.414
.467
.232 .207
Pension Trust Funds
.064
.067
.062 .060
Enterprise Funds
.156
.156
.151 .148
TOTAL TAX RATE*
1.210
1.341
1.074 1.033
*Rate per $100
of equalized
assessed valuation
Expenditures for General,
Special
Revenue, and Debt Service Fund
purposes totaled $17,803,234,
an increase
of 288%
over the prior year.
1987 EXPENDITURES
Increase
Percent
(Decrease)
Function
Amount
of Total
from 1986
end eraTGovernment
$ 1,19�4
6.7
$ 33�
Public Safety
2,139,940
12.0
113,645
Highways & Street
916,490
5.1
(25,876)
Culture & Recreation
805,872
4.5
(51,354)
Misc. Expenditures
354,733
2.0
39,653
Debt Service
12,389,555
69.6
11,339,305
TOTAL
$17,803,234
100.00
$11,616,677
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The Village called its floating rate debt and replaced it with
traditional General Obligation Debt. This magnified the Village's Debt
Service Fund expenditures by $11,000,000. Without this the 1987
expenditures would appear as below.
Increase
Percent
(Decrease)
Function
Amount of
Total
from 1986
General Government
$ 1,196,644
17.6
$ 201,314
Public Safety
2,139,940
31.5
113,635
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Highways & Streets
916,490
13.5
(25,876)
Culture & Recreation
805,872
11.8
(51,354)
Misc. Expenditures
Debt Service
354,733
1,389,555
5.2
20.4
39,653
339,305
TOTAL
$ 6,803,234
100.00
$ 616,677
In this case, expenditures for General,
Special
Revenue, and Debt
Service Fund purposes
totaled $6,803,234,
an increase of 10.5% over the
'
prior year.
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
$ 400,000
Sewerage Treatment Facility Bonds Series of 1973
800,000
Corporate Purpose Bond Series of 1982-A
350,000
Capital Purpose Bond, Series 1986
10,900,000
TOTAL
$129450,000
Other Debt to be Abated from T.I.F. District
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Corporate Purpose 1982 Bond Series of 1982
Corporate Purpose 1983 Bond Series of 1983
$ 450,000
250,000
TOTAL
$ 700,000
iGRAND
TOTAL BONDED DEBT
$13,150,000
Less: DEBT SERVICE FUNDS
1,080,964
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NET BONDED DEBT
$12,069,036
Ratio of Net Debt to
Net Debt
Amount Assessed Value
Per Capita
Net Bonded Debt $12,069,036 4.32%
$690
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Moody's Investor Service upgraded the Village's General Obligation Debt
to Aa from A 1 on July 1, 1982. This rating was last confirmed on
April 24, 1986.
Cash Management
Cash temporarily idle during the year was invested in repurchase
agreements (Library only), certificates of deposit, and treasury bills.
Funds head for the Police Pension Fund are invested in treasury bonds
and notes, treasury strip coupons. As of April 30, 1987, the total
amount invested by the Village was 99.8% of available funds. The total
interest earnings for the year for all funds, including the pension
funds, was $1,790,540. For the prior fiscal year, the total amount
earned was $1,099,147.
General Fixed Assets
The General Fixed Assets of the Village are those fixed assets used on
the performance of general governmental functions, excluding the fixed
assets of the Enterprise funds. As of April 30, 1987, the general fixed
assets of the Village amounted to $4,693,006. 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 expenses of $1,517,663,
depreciation of $335,207. Revenue
April 30, 1987, was 6.61.
operating revenues of $1,852,870 and
or a total operating income before
bond coverage for the year ending
The Sewerage Fund had operating revenues of $1,098,333, operating ex-
penses of $912,051, for an operating income before depreciation of
$186,282. The Refuse Fund had operating revenues of $444,063 and
operating expenses of $863,790, for an operating loss of $419,727.
However, there was a property tax levy for $429,127 for refuse purposes.
This revenue source more than adequately covers the operating loss. The
commuter parking lots' revenues were $90,953, with operating expenses of
$26,214, for an operating income of $64,739.
Prospects for the Future
The Village's Tax Incremental Financing District #1 (TIF) 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 - $31,010,143. This growth has
been faster than had been anticipated.
Fund Balance Designations
The Village is establishing several designations
balances.
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Area improvements:
Brickyards ($322,000). This design is for the
improvements to the
area described as the Brickyards.
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Area Im
rovements:
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 standards. Such reports must satisfy both
' generally accepted accounting principles and applicable legal
requirements.
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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
April 30, 1986, report. I believe our current report substantially
conforms to Certificate of Conformance Program requirements. We are
submitting this report to GFOA to determine its continuing eligibility
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.
Re ectfu11 submitted,
George J. Vglen ine
Finance Director
Village of Deerfield
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AUDITOR'S. OPINION
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' Certified Public Accountants
The Honorable Bernard Forrest, Mayor
Members of the Board of Trustees
Village of Deerfield Deerfield, Illinois
'
We have examined the combined financial statements of the Village of
Deerfield, Illinois and the combining, individual fund, and account
group financial statements of the Village as of and for the year ended
April 30, 1987 as listed in the table of contents. Our examination was
'
made in accordance with generally accepted auditing standards and,
accordingly, included such tests of the accounting records and such
other auditing procedures as we considered necessary in the
circumstances.
In our opinion, the combined financial statements referred to above,
'
present fairly the financial position of the Village of Deerfield,
Illinois at April 30, 1987, 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, 1987, 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 9 (312) 665-4510
2
Our examination was made for the purpose of forming an opinion on the
' combined financial statements taken as a whole and on the combining,
individual fund, and account group financial statements. The accompany-
ing 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 combined 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 combined 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.
1 � �
' Karrison & Byrne
July 31, 1987
I I
7
L
1
I
11
COMBINED STATEMENTS -OVERVIEW
y VILLAGE OF DEERFIELD, ILLINOIS
ALL FUND TYPES AND ACCOUNT GROUPS
COMBINED BALANCE SHEET
APRIL 30, 1987
It!
(See Following Page)
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VUI AGE OF DEERFIELD, ILL=is
ALL PROPRIETARY AND FIDUCIARY PENSION TRUST) FUND TYPES
COMBIlSED STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN RETAINED DKTfNGS - UNRESERVED FUND BALANCE
FOR THE YEAR ENDED APRIL 30, 1987
Operating Revenues
Taxes
Charges for Services
Contributions
Miscellaneous
Total Operating Revenues
Operating Expenses
Administration
Operations
Depreciation
Benefits and Refunds
Miscellaneous
Total Operating Expenses
Operating Income (Loss)
Nonoperating Revenues (Expenses)
Interest Income
Property Taxes
Interest Expense
Net Income (Loss) before
Operating Transfers
Operating Transfers In (Out)
Net Income (loss)
Retained Earnings - Unreserved/
Fund Balance
May 1
April 30
Proprietary Fiduciary
Fund Types Fund Types
Internal Pension
Enterprise Service Trust
Totals
(Memorandum Only)
1987 1986
$
180,434
$ 180,434
$ 173,723
$3,373,086
$125,369
3,498,455
2,977,605
99,923
99,923
97,525
113,133
458,868
572,001
476,893
$3,486,219
$125,369
$
739,225
$4,350,813
$3,725,746
$ 312,189
$ 312,189
$ 251,314
3,007,529
$150,335
3,157,864
2,785,706
298,505
298,505
282,857
$
100,935
100,935
67,873
99
99
937
$3,618,223
$150,335
$
101,034
$3,869,592
$3,388,687
$ (132,004) $(24,966) $ 638,191 $ 481,221 $ 337,059
$ 107,256
424,717
(5,738)
$ 526,235 - -
$ 107,256 $ 95,084
424,717 399,219
(5,738) (7,438)
$ 526,235 $ 486,865
$ 394,231
$(24,966)
$ 638,191
$1,007,456
$ 823,924
(20,000)
-
900
(19,100)
(20,000)
$ 374,231
$(24,966)
$ 639,091
$ 988,356
$ 803,924
1,676,298
16,661
3,772,538
5,465,497
4,661,573
$2,050,529
$ (8,305)
$4,411,629
$6,453,853
$5,465,497
See accompanying Notes to the Financial Statements.
11
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1.
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
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 - NCGA Statement
3". In accordance with NCGA Statements 3 and 7, 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 and others.
The Village considered the following entities when implementing NCGA
Statements 3 and 7. Although these entities are similar in nomenclature
and scope of public service, the criteria in Statement 3 did not require
the inclusion of these entities in the Village's financial statements as
component units principally because the Village does not exercise oversight
responsibility over such entities. Listed below are the entities that were
considered:
Deerfield Bannockburn Fire Protection District
Highland Park Mosquito Abatement District
North Shore Sanitary District
Municipal Insurance Cooperative Agency
(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.
11
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J
� 9
VILLAGE OFLDEERFIELD,' ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
1. Summary of Significant Accounting Policies (Cont.)
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.
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 -
financial resources to be
Capital Projects Funds are used to account for
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
10
1
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
Summary of Significant Accounting Policies (Cont.)
B. Basis of Presentation - Fund Accounting (Cont.)
PROPRIETARY FUNDS (CONT.)
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.
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 accountingrefers to when revenues and expenditures or expenses
P P
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.
F
11,
1
VILLAGE.OF. DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1986
1. Summary of Significant Accounting Policies (Cont.)
C. Basis of Accounting (Cont.)
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 Federal Revenue Sharing Entitlements
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.
D. Budgets and Budgetary Accounting
rThe
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.
1 4. The budget may be amended by the Board of Trustees.
12 11
1.
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
Summary of Significant Accounting Policies (Cont.)
D. Budgets and Budgetary Accounting (Cont.)
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 during fiscal 1987 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
Motor Fuel Tax
Transportation
Debt Service
Debt Service
Enterprise
Water
Sewerage
Refuse
Commuter Parking Lot
Budgetary Basis of Accounting
Modified Accrual
Modified Accrual
Modified Accrual
Modified Accrual
Modified Accrual
Modified Accrual
Modified Accrual
Modified Accrual
Modified Accrual
Modified Accrual
Modified Accrual
Modified Accrual
Accrual
Accrual
Accrual
Accrual
7�
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' VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
1
I]
1
I
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a
1. Summary of Significant Accounting Policies (Cont.)
D. Budgets and Budgetary Accounting (Cont.)
Fund
Internal Service
Garage
Trust
Police Pension
E. Assets, Liabilities, and Fund Equity
Investments
Budgetary Basis of Accounting
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
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.
1
VILLAGE OF DEERFIELD, ILLINOIS '
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
Summary of Significant Accounting Policies (Cont.)
E. Assets, Liabilities, and Fund Equity (Cont.)
Fixed Assets and Long -Term Liabilities (Cont.)
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 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.
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
15
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
1. Summary of Significant Accounting Policies (Cont.)
F. Revenues, Expenditures, and Expenses
Property Tax Revenue Recognition
1986 property taxes attach as an enforceable lien on January 1, 1986. 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, 1987, and are payable in two installments, on or about June
1, 1987 and on or about September 1, 1987. 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 NCGA Interpretation 3.
The 1986 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 1986 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
accrued vacation pay and sick leave at April 30:
Fund
General $246,329
Special Revenue
Street and Bridge
$
24,592
Enterprise
Water
Sewerage
$
12,866
36,606
$
49,472
Internal Service
i
Garage
$
8,028
Total $328,421
,i
t
16 1
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
1. Summary of Significant Accounting Policies (Cont.)
F. Revenues, Expenditures, and Expenses (Cont.)
Accumulated Unpaid Compensated Absences (Cont.)
Accumulated unpaid compensated absences are reflected in the financial
statements in accordance with NCGA Statement 4 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 Combined Statements - Overview
Total columns on the Combined Statements - Overview are captioned
"Memorandum Only" to indicate that they are presented only to facilitate
financial analysis. Data in these columns do not present financial
position, results o.f 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.
.1
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17
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
1. Summary of Significant Accounting Policies (Cont.)
G. Financial Reporting (Cont.)
Budgetary Data
The Village operates under the Budget Act.
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:
Deficit
Fund Balance
Illinois Municipal Retirement $0 9,609)
Special Assessments 3-84 (92,937)
Commuter Parking Lot (17,332)
Garage (8005)
These deficits will be eliminated with General Fund revenues.
18 1
VILLAGE OF DEERFIELD. ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
2. Stewardship, Compliance and Accountability (Cont.)
B. Excess of Actual Expenditures/Expenses over Budget in Individual Funds
The following funds had an excess of actual expenditures/expenses (ex-
clusive of depreciation and amortization) over budget for the year ended
April 30:
Fund Excess
Motor Fuel Tax $33,620
Commuter Parking Lot 684
Garage 4,335
3. Detail Notes on All Fund and Account Groups
A. Assets
1. Cash and Investments
The 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 fund are held separately from those of other funds. Cash
on hand and cash at fiscal agents has been excluded from the amounts
shown below.
Permitted Deposits and Investments - Statutes authorize the Village to
make deposits/invest in obligations of the U.S. Treasury and U.S.
Agencies, obligations of States and their political subdivisions,
savings accounts, 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.
F1
1
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1
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VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
3. Detail Notes on All Funds and Account Groups (Cont.
A. Assets (Cont.)
1. Cash and Investments (Cont.)
Deposits
At year-end the carrying amount of the Village's deposits totaled
$13,994,618, and the bank balances totaled $14,371,326.
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 Village's name.
Category 3
Deposits covered by collateral held by
the pledging financial institution, or
its trust department, or its agent but
not in the Village's name, and deposits
which are uninsured and uncollateralized.
Total Deposits
Bank
Balances
$ 1,366,031
2,000,000
11,005,295
$14,371,326
For pension trust funds the types of deposits authorized and the mix of
credit risk categories do not differ significantly from the other funds
of the Village.
20
VILIAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STAM4M
APRIL 30, 1987
3. Drtail Notes on All Funds and Account Groups (Cont.)
A. Assets (Cont.)
1. Cash and Investments (Cont.)
Investments
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 nane. Category 2 includes uninsured and unregistered investments for which the
securities are held by the broker's or dealer's trust department or agent in the Village's
nave. 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 nane and m insured, unregistered and uncollateralized investments.
Carrying Amount
Category Market
1 2 - 3 Total Value
U.S. Goverment
Securities $1,644,055 $5,680,414
$7,324,469
$8,247,684
Repurchase Agreement $160,000
160,000
160,000
GMA 493,438
493,438
493,437
Guaranteed
Investment Contract 250,000
250,000
250,000
$2,137,493 $5,680,414 $410,000
$8,227,907
$9,151,121
Investment in Illinois Public Treasurer's Investment Pool
511,324
511,324
Total Investments
$8,739,231
$9,662,445
The pension trust fund owns approximately 100 percent of the investments in category 1 and
22 percent of the investments in category 3.
21
i
1
i
1
1
1
1
1
1
1
1
1
1
1
i
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
3. Detail Notes on All Funds and Account Groups (Cont.
A. Assets (Cont.)
2. Loan Receivable - Drainage District
The Village has advanced funds to the Union Drainage District Number 1
to alleviate emergency flooding conditions. The balance at April 30,
1987 amounted to $104,043 plus interest of $5,218. This receivable is
recorded in the Capital Projects Fund.
3. Fixed Assets
a. Changes in General Fixed Assets
Balances Balances
May 1 Additions Deletions April 30
Land $1,915,310 $ 14,167 $1,929,477
Building and
Improvements 1,237,500 1,237,500
Vehicles 371,100 97,189 $55,295 412,994
Equipment 1,022,710 93,939 3,614 1,113,035
$4,546,620 $205,295 $58,909 $4,693,006
b. Summary of Proprietary Fixed Assets at April 30:
Enterprise
Commuter
Water
Sewerage
Parking Lot
Land
$ 77,500
Systems
$ 787,751
$6,271,360
Equipment and Vehicles
321,368
209,759
Parking Lot
613,958
$1,109,119
$6,481,119
$691,458
Less Accumulated
Depreciation
649,495
$1,406,320
243,402
$ 459,624
$5,074,799
$448,056
22 1
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
3. Detail Notes on All Funds and Account Groups (Cont.)
B. Liabilities (Cont.)
1. Retirement Fund Commitments (Cont.)
a. Illinois Municipal Retirement Fund
1) The Village is a participating member of the Illinois Municipal
Retirement Fund (IMRF) which covers all of its employees who:
a.) occupy a job normally requiring 1,000 hours or more per
year;
b.) are paid on a regular payroll from Village funds;
c.) were under age sixty when first entering employment; and
d.) are not covered by another state created retirement system
for the same service.
2) The Illinois Municipal Retirement Fund's (Chicago) actuary
estimated that as of December 31, 1986, the present value of
currently accrued retirement obligations of the Village was
$3,807,936. The Village had accumulated assets of $1,300,102
on the same date. Therefore, the balance of $2,507,834 remains
to be financed by future contributions payable by the
municipality on behalf of its present employees. The normal
cost portion of the Village's contribution rate is expected to
provide $4.59,330 of this amount and the prior service portion
of the rate is expected to provide $2,048,504. The latter
amount is considered to be unfunded at this time; it is
sometimes referred to as the "actuarial deficiency". As
required by Section 7-172, Chapter 108-1/2, Illinois Revised
Statutes, contribution rates are fixed at levels, certified by
the Fund actuary, sufficient to meet the entire cost of benefit
payments ultimately to be made.
Actual contributions this year totaled $320,406. This is a
statewide plan, administered by IMRF. The Village has no
further liability to this plan.
1
23
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
3. Detail Notes on All Funds and Account Groups (Cont.)
B. Liabilities (Cont.)
1. Retirement Fund Commitments (Cont.)
b. Police Pension Fund
1) Chapter 108-1/2, Sections 3-125 and 127 of the Illinois
Revised Statutes, provide that municipalities shall establish
and maintain a reserve to insure the payment of all
obligations. The accumulated reserve shall be equal to the
estimated total actuarial requirements of the Fund.
In municipalities having less than the actuarial requirements
of the Fund, the Board of Trustees of the Fund shall designate
the proportionate amount needed annually to insure the
accumulation of such actuarial reserve over a 40 year period
ending in 2020. The total actuarial requirements at April 30,
1986 (the date of the latest computation) amounted to
$4,399,966 as determined by the Village Actuary..
Net present assets $3,772,537
Unfunded accrued liability 627,429
sLL q94 QAA
Actual contributions this year totaled $180,434. This is a
single -employer plan administered by the Village.
24
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
3. Detail Notes on All Funds and Account Groups (Cont.
B. Liabilities (Cont.)
1. Retirement Fund Commitments (Cont.)
b. Police Pension Fund (Cont.)
2) Changes in Fund Balance
Total
Balances - May 1 $3,772,538
Additions
Employer Contributions (Taxes) 180,434
Employee Contributions 99,923
Interest 381,538
Gain on Sale of Investments 77,330
Transfer from General Fund 900
Total Balances and Additions $4,512,663
Actuarial Adjustments
(Increase) Decrease in
Reserved for
Employee
Retirement
Unreserved System
$(857,720) $4,630,258
180,434
99,923
381,538
77,330
900
$(857,720) $5,370,383
Unfunded Accrued Liability 230,291 (230,291)
Total Revised Balances $4,512,663 $(627,429) $5,140,092
Deductions
i Pension Payments $ 83,885 $ 83,885
Miscellaneous 99 99
Separation Refund 17,050 17,050
Total Deductions $ 101,034 - $ 101,034
Balances - April 30 $4,411,629 $(627,429) $5,039,058
41
IVILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
3. Detail Notes on All Funds and Account Groups (Cont.)
B. Liabilities (Cont.)
1. Retirement Fund Commitments (Cont.)
b. Police Pension Fund (Cont.)
3) Municipal Contribution Requirements
Per the Village's updated actuarial report dated April 30, 1986
the Village's contributin to the Police Pension Fund should be
$108,586 for the year ending April 30, 1986. This contribution
includes the amount necessary to provide the normal cost based
on the annual payroll of active participants as of April 30,
L 1986 and the amount necessary to amortize the unfunded accrued
liability of $627,429.
c. 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
1
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
1 assets to satisfy the claims of general creditors in the future.
I
26
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
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 30
Committed
Financing
Communication
Equipment
$ 101,927
$ 24,165
$ 77,762
-
Computer Equipment
64,673
14,450
50,223
-
Phase 2A Sanitary
Sewers
276,000
93,088
182,912
-
Phase 2B Sanitary
Sewers
2,276,000
137,022
2,138,978
-
Deerfield Road
Pumping Station
1,668,000
350,864
1,317,136
-
Wilmot Road
Pumping Station
380,000
110,827
269,173
-
Sewer Treatment
Plant Improvement
425,000
73,215
351,785
-
27
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
3. Detail Notes on All Funds and Account Groups ((unt.)
B. Liabilities (Cont.)
3. longTerm Debt
a. Qianges in Long Tenn Debt
Rind Debt Balances Adjustments/ Balances
Retired By May 1 Issuances Retirements April 30
General Obligation Bonds
Sewerage Improvement
Bond Series of 1973
Debt Service $
475,000
Sewer Treatment Facility
Bond Series of 1973
Debt Service
925,000
Corporate Purpose Boni
Series of 1982
Debt Service
475,000
Corporate Purpose Bond
Series of 1982 A
Debt Service
400,000
Corporate Purpose Boni
Series of 1983
Debt Service
350,000
General Obligation Vari-
able Rate Demand Bond
Series A of 1984 Debt Service
General Obligation Vari-
able Demand Bond
Series B of 1985 Debt Service
Corporate Purpose Bond
Series of 1986 (1) Debt Service
4,100,000
$ 75,000 $
400,000
125,000
800,000
25,000
450,000
50,000
3 50, 000
100,000
250,000
UII 1II
62900,000 6,900,000
$11,000,000 100,000 10,900,000
$13,625,000 $11,000,000 $11,475,000 $13,150,000
Installment Contract
Police Addition
Installment Note
Debt Service $ 155,000 -
$ 155,000 -
Revenue Bonds
Water Revenue
Bond Series of 1960
Water $ 30,000
$ 10,000 $ 20,000
%ter Revenue
Bond Series of 1959
Water 105,000
35,000 70,000
$ 135,000 -
$ 45,000 $ 90,000
Special
Special Assessment Bords Assessment $ 82,863 - $ 18,276 $ 64,587
(1) 'Ihe Corporate Purpose Bond Series of 1986 - $11,000,000 was a variable rate demand bond issue and
was redeemed in full using the proceeds of a general obligation issue.
28
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
3. Detail Notes on All Funds and Account Groups (Cont.)
B. Liabilities (Cont.)
3. Long -Term Debt (Cont.)
b. Debt Service Requirements to Maturity
Fiscal Year
End ing
April 30
1988
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 Installment Revenue Assessment
$ 1,430,726
1,471,123
1,430,638
1,499,138
1,483,988
1,495,750
1,267,013
1,195,800
1,109,905
1,112,785
1,112,485
1,108,925
1,112,025
1,111,025
1,110,825
1,113,113
1,111,35,0
1,115,538
$22,392,152
Bonds
$ 49,782
47,869
45,957
$143,608
$64,587
$64,587
Totals
$ 1,545,095
1,518,992
1,476,595
1,499,138
1,483,988
1,495,750
1,267,013
1,195,800
1,109,905
1,112,785
1,112,485
1,108,925
1,112,025
1,111,025
1,110,825
1,113,113
1,111,350
1,115,538
$22,600,347
* These bonds are callable and have been allocated to the most current year.
29
IVILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
1 3. Detail Notes on All Funds and Account Groups (Copt.)
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
1) 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 Account, all monies of the system in accordance
with the following priority.
Operation and Maintenance Account - An amount sufficient to
cover the estimated operating and maintenance expense of
the water system for the current month.
I
30 1
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
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) 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 -twelfth 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
31
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
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 5,539
Unmetered Customers 1
Hydrants 884
Gallons Pumped 835,000,000
Gallons Billed 741,000,000
Connecting Properties 5,498
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
The Village has no liability under these bond issues.
32
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
3. Detail Notes on All Funds and Account Groups (Cont.
C. Interfund Receivables and Payables
Due
Due
From
To
General
General
Municipal Audit
$ 741
Street
$ 532
Capital Improvement
1,115
Tax Incremental
3,275
Bond Issue B
1,115
Sewer
483
Garage
2,064
Deposit
2,758
1,214
Total General
$6,003
$7,294
Special Revenue
Municipal Audit
General
$ 741
Street
17
Illinois Municipal Retirement
358
Tax Incremental
$ 75
$1,116
$ 75
Emergency Services
Street
$ 10
Tax Incremental
$ 39
Police Pension
20
$ 30
$ 39
Youthbound
Garage
$1,533
Library
Street
$3, 386
Illinois Municipal Retirement
115
Debt Service
1,641
Refuse
418
Police Pension
86
$5,646
Street
General
$ 532
Municipal Audit
17
Emergency Services
10
Library
3,386
Illinois Municipal Retirement
542
Debt Service
1,233
33
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
3. Detail Notes on All Funds and Account Groups (Cont.)
C. Interfund Receivables and Payables (Cont.)
Due
Due
From
To
Special Revenue (Cont.)
Street (Cont.)
Tax Incremental
$ 1,717
Refuse
735
Garage
6,174
Police Pension
309
$14,655.
Illinois Municipal Retirement
Municipal Audit
$ 358
Library
115
Street
$ 542
Tax Incremental
2,340
$ 542
$ 2,813
Total Special Revenue
$ 7,334
$19,115
Debt Service
Debt Service
Library
$ 1,641
Street
$ 1,233
Capital Improvements
27,629
Tax Incremental
9,009
Bond Issue B
27,629
Total Debt Service
$56,491
$10,650
Capital Projects
Tax Incremental
General
$ 3,275
Municipal Audit
75
Emergency Services
39
Street
1,717
Illinois Municipal Retirement
2,340
Debt Service
9,009
Refuse
3,041
Police Pension
1,286
$20,782
Capital Improvements Series A
General $ 1,115
Debt Service 27,629
$28,744
34
VILLAGE OF DEERFIELD, ILLINOIS
NOTES.TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
3. Detail Notes on All Funds and Account Groups (Cont.)
C. Interfund Receivables and Payables (Cont.)
Due Due
From To
Capital Projects (Cont.)
Bond Issue B
General $ 1,115
Debt Service 27,629
$28,744
Total Capital Projects $20,782 $57,488
Enterprise
Water
Garage $ 1,867
Sewer
General
$
483
Garage
1,643
$
2,126
Refuse
Library
$
418
Street
$
735
Tax Incremental
3,041
$
735
$
3,459
Total Enterprise
$
735
$
7,452
Internal Service
Garage
General
$
2,064
Youthbound
1,533
Street
6,174
Water
1,867
Sewer
1,643
Total Internal Service
$13,281
Trust and Agency
Police Pension
Emergency Services
$
20
Library
86
Street
$
309
Tax Incremental
1,286
$
309
$
1,392
35
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
3. Detail Notes on All Funds and Account Groups (Cont.
C. Interfund Receivables and Payables (Cont.)
Trust and Agency (Cont.)
Deposit
General
Total Trust and Agency
Total All Funds
Due Due
From To
$ 1,214 $ 2,758
$ 1,523 $ 4,150
$106,149 $106,149
D. Fund Equity (Cont.)
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.
36
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STAT 4NM
AP 30, 1987
4. Segment Information for Certain Individual Enterprise Funds
Tie Village maintains 4 Enterprise Rmds which provide water, sewerage, refuse and parking services.
Segment information for the year ended April 30 is as follows:
Commuter
Water
Sewerage
Refuse
Parking Lot
Fund
Fund
Fund
Fund
Totals
Operating Revenues
$1,852,870
$1,098,333
$ 444,063
$ 90,953
$3,486,219
Depreciation, Depletion, and
Amortization Expense
61,329
206,478
-
30,698
298,505
Operating Income or (Loss)
273,878
(20,196)
(419,727)
34,041
(132,004)
Operating Transfers
Out
-
-
-
(20,000)
(20,000)
Tax Revenues
-
-
424,717
-
424,717
Net Income (Loss)
308,048
30,147
21,995
14,041
374,231
Plant, Property and Equipment
Additions
34,356
319,557
-
-
353,913
Deletions
-
-
-
-
-
Total Assets
1,679,132
6,217,275
564,914
612,580
9,073,901
Net Working Capital
1,015,501
1,042,555
481,750
160,852
2,700,658
Bonds and Other Long -Term
Liabilities
Payable from Operating
Revenues
90,000
-
-
-
90,000
Total Equity
1,473,833
6,117,354
481,750
608,908
8,681,845
37
VILLAGE OF DEERFIELD, ILLINOIS
' NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
1
5. Related Entities - Joint Ventures
A. 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
i 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,
1987. Therefore, MICA has not been reflected in the financial
statements at April 30, 1987.
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.
38 1
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
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
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, 1987 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.
7. Insurance
A. The Village participates in the Municipal Insurance Cooperative Agency
MICA. MICA is a proprietary joint venture whose members are Illinois
municipalities. MICA manages and funds first party property lossed, 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)
75,000 -
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
t
1
1
1
1
1
1
39
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
7. Insurance (Cont.)
A. (Cont.)
The Village's payments to MICA are displayed on the financial statements as
expenditures/expenses in appropriate funds.
B. The Village has purchased employee benefit insurance from private insurance
companies. Premiums have been displayed as expenditures/expenses in
appropriate funds.
1
1
L
1
Fl
GOVERNMENTAL FUND TYPES
11
ri
r�
GENERAL FUND
1
I
1
General Fund
n
11
h
Fund Descriptions
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.
40
VILLAGE OF DEERFIELD, ILLINOIS
GENERAL FUND
BALANCE SHEET
APRIL 30, 1987
ASSETS
1987 1986
Cash and Investments
$3,215,044
$3,147,158
Receivables
Property Taxes
285,102
387,765
Accrued Interest
67,361
59,135
Due from Other Governments
Sales Tax
133,307
115,419
State Income Tax
58,812
42,217
Court Fines
14,346
26,372
Due from Other Funds
6,003
354
Other Assets
106,776
58,282
Total Assets
$3,886,751
$3,836,702
LIABILITIES AND FUND BALANCE
Liabilities
Accounts Payable
$ 79,107
$ 143,792
Accrued Payroll
36,271
26,772
Compensated Absences Payable
246,329
231,513
Contracts Payable
127,986
Other Payables
15,373
5,600
Due to Other Funds
7,294
51,416
Deferred Property Taxes
320,000
420,000
Total Liabilities
$ 832,360
$ 879,093
Fund Balance
Unreserved
Designated for Capital Improvements
$1,522,000
$1,422,000
Undesignated
1,532,391
1,535,609
.Total Fund Balance
$3,054,391
$2,957,609
Total Liabilities and Fund Balance
S3.886.751
Ai AiA 7n,)
See accompanying Notes to the Financial Statements.
41
VILLAGE OF DEERFIELD, ILLINOIS
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30. 1987
Revenues
Expenditures
Excess (Deficiency) of Revenues over
Expenditures before Other Financing
Sources (Uses)
Other Financial Sources (Uses)
Operating Transfers In (Out)
Youth Bound Fund
Debt Service Fund
Transportation Fund
Federal Revenue Sharing
Police Pension
Excess of Revenues and Other Sources
over Expenditures and Other Uses
Fund Balance
May 1
Residual Equity Transfer (Out)
Vehicle Replacement Fund
April 30
1987
Budget Actual
$3,348,200 $3,902,574
1986
Actual
$3,683,369
3,524,735 3,332,892 3,018,112
$ (176,535) $ 569,682 $ 665,257
$ (4,000) $ (4,000) $ (4,000)
4,000
(2,000) (2,000) (2,000)
130,000 130,000
(900)
$ 124,000 $ 127,100 $ (6,000)
$ (52,535) $ 696,782 $ 659,257
See accompanying Notes to the Financial Statements.
$2,957,609 $2,298,352
(600,000) -
$2,357,609 $2,298,352
$3,054,391 $2,957,609
42
VILLAGE OF DEERFIELD, ILLINOIS
GENERAL FUND
STATEMENT OF REVENUES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1987
Taxes
Property Taxes - General
Sales Tax
Other Sales Tax
Income Tax
Hotel Motel Tax
Licenses and Permits
Beer/Liquor Licenses
Food Licenses
Other Business Licenses
Building Permits
Animal Licenses
Non -Business Licenses and Permits
Vehicle Stickers
Intergovernmental
State Grants
Charges for Services
Special Police Services
Transfer Charges
Engineering Charges
Fines and Forfeits
Miscellaneous
False Alarms
Sale of Materials
Rentals
Interest
Miscellaneous
Franchise Fees
Total Revenues
Budget Actual
$ 320,000 $ 419,694
1,650,000
1,640,226
124,805
390,000
451,800
75,000
129,284
$2,435,000
$2,765,809
$ 35,000
$
40,800
3,000
4,220
9,000
9,493
140,000
219,989
7,000
5,987
22,000
27,971
33,000
$ 249,000
$
308,460
$ 10,000
$
6,457
$ 48,500
$
45,299
36,000
36,600
5,000
16,655
$ 89,500
$
97,954
$ 210,000 $ 257,723
$ 30,000
$ 20,640
1,074
35,000
39,769
180,000
259,299
14,700
48,666
95,000
96,723
$ 354,700
$ 466,171
tZ IAQ inn ell Oni S74
43 '
VILLAGE OF DEERFIELD, ILLINOIS
GENERAL FUND
STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1987
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
$ 592,500
7,400
78,400
69,300
139,000
16,450
15,500
21,000
71,300
46,000
2,600
7,000
12,000
500
1,000
18,000
19,000
2,000
2,500
5,000
10,000
300
1,000
4,000
2,500
6,000
12,500
$1,162,750
$ 25,000
50,000
$ 75,000
S1_217.75n
Actual
$ 589,678
5,651
58,211
64,008
157,268
14,682
6,674
15,770
53,862
52,673
1,030
4,126
22,344
333
4,239
16,420
22,288
2,296
3,898
10,089
191
140
2,782
2,167
7,619
13,398
$1,131,837
$ 18,190
46,617
$ 64,807
$1,196,644
1
n
1
44
' VILLAGE OF DEERFIELD, ILLINOIS
GENERAL FUND
' STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED APRIL 30, 1987
' Budget Actual
Public Safety
Police Department
Administrative Service
' Salaries $347,300 $343,973
Overtime 5,250 1,336
Part -Time 32,200 12,241
' Employee Benefits 36,620 31,540
Professional Services 3,000 2,867
Travel, Training and Dues 5,200 3,759
' Printing and Advertising 7,300 3,317
Communications 25,000 22,749
Insurance 141,300 133,962
Contractual Services 31,650 18,612
' Motor Vehicle Maintenance 1,000 1,023
Repairs and Maintenance 18,500 4,968
Supplies 12,200 9,608
Motor Vehicle Supplies
800
634
'
Apparel
3,750
3,275
Equipment
44,000
95,960
'
Motor Vehicles
Miscellaneous
8,000
7,000
7,850
5,059
$730,070
$702,733
'
Investigations
Salaries
$108,700
$107,809
Overtime
11,600
7,205
Employee Benefits
11,700
12,462
Travel, Training and Dues
1,400
734
Contractual Services
14,800
14,197
Motor Vehicle Maintenance
2,000
2,014
'
Repairs and Maintenance
750
Supplies
5,150
2,055
Motor Vehicle Supplies
1,020
682
' Apparel 1,200 1,273
Equipment 1,775 776
$160,095 $149,207
Patrol
Salaries $916,700 $875,282
Overtime 57,500 36,709
' Part -Time 40,100 32,311
Employee Benefits 88,890 87,425
Travel, Training and Dues 19,700 12,691
I
Motor Vehicle Maintenance 18,080 17,757
45
VILLAGE OF DEERFIELD, ILLINOIS
GENERAL FUND
STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED APRIL 30, 1987
Budget
Actual
Public Safety (Cont.)
Police Department (Cont.)
Patrol (Cont.)
Repairs and Maintenance
$ 2,000
$ 909
Supplies
8,200
7,293
Motor Vehicle Supplies
25,000
14,520
Apparel
12,900
11,984
Equipment
355
$1,189,070
$1,097,236
Special Services
Salaries
$ 28,700
$ 18,702
Youth Services
Salaries
$ 130,500
$ 127,898
Overtime
10,250
6,219
Employee Benefits
11,500
12,192
Travel, Training and Dues
2,900
442
Motor Vehicle Maintenance
2,500
980
Repairs and Maintenance
500
Supplies
1,200
3,172
Motor Vehicle Supplies
2,000
932
Apparel
800
1,040
Equipment
900
Motor Vehicles
16,000
15,495
$ 179,050
$ 168,370
Total Public Safety
$2,286,985
$2,136,248
Total Expenditures
$3,524,735
$3,332,892
0
1
Ll
1
1
SPECIAL REVENUE FUNDS
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 and 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
a 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.
i�
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
f
I I
1
Fund Descriptions
Federal Revenue Sharing Fund
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.
/1 Transportation Fund
Transportation Fund - To account for the Taxi Subsidy Program established for
senior citizens and the handicapped.
11
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L'7
48
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, 1987
Revenues
Taxes
Property Taxes
Interest
Total Revenues
Expenditures
General Government
Contractual
Excess (Deficiency) of Revenues
over Expenditures
Fund Balance
May 1
April 30
1987 1986
Budget Actual Actual
$10,500 $10,492 $11,784
21
$10,500 $10,513 $11,784
11,000 10,140 9,875
$ (500) $ 373 $ 1,909
See accompanying Notes to the Financial Statements.
11,879 9,970
$12,252 $11,879
49
VILLAGE
OF DEERFIELD, ILLINOIS
all
EMERGENCY SERVICES DISASTER FUND
STATEMENT
OF REVENUES, EXPENDITURES,
AND CHANGES IN
FUND BALANCE - BUDGET AND
ACTUAL
FOR THE
YEAR ENDED APRIL 30, 1986
1987
1986
Budget
Actual
Actual
Revenues
Taxes
Property Taxes
$5,000
$ 4,996
$
5,237
Interest
11
Total Revenues
$5,000
$ 5,007
$
5,237
Expenditures
Public Safety
Travel, Training and Dues
$ 600
$ 499
$
513
Communications
1,400
1,514
1,240
Insurance
600
409
264
Contractual
300
169
183
Utility Services
100
100
79
Motor Vehicle Maintenance
800
269
277
Motor Vehicle Supplies
200
37
28
,
Repairs and Maintenance
500
237
Supplies
500
245
275
Equipment
500
450
427
Total Expenditures
$5,500
$ 3,692
$
3,523
Excess (Deficiency) of Revenues
over Expenditures
$ (500)
$ 1,315
$
1,714
Fund Balance
May 1
17,584
15,870
April 30
$18,899
$17,584
i
See accompanying Notes to the Financial Statements.
ti �r
50
t
1
1
1
1
l
1
1
1
1
1
1
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, 1987
Revenues
Charges for Services
Project Income
Expenditures
Culture and Recreation
Salaries
Travel, Training and Dues
Insurance
Motor Vehicle Maintenance
Motor Vehicle Supplies
Repairs and Maintenance
Supplies
Lodgings
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
1987 .1986
Budget Actual Actual
$11,000 $10,554 $ 8,648
$ 750
350
$ 348
$ 324
200
442
291
5,500
4,382
1,932
975
676
760
200
4,500
4,735
4,518
2,548
200
57
62
1,400
1,718
1,718
2,700
2,698
183
$16,775
$15,056
$12,336
$(5,775)
$(4,502)
$(3,688)
4,000 4,000 4,000
$0,775) $ (502) $ 312
See accompanying Notes to the Financial Statements.
7,498 7,186
$ 6,996 $ 7,498
51
VILLAGE OF DEERFIELD, ILLINOIS
LIBRARY FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1987
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
Total Revenues
Expenditures
Culture and Recreation
Excess (Deficiency) of Revenues
over Expenditures
Fund Balance
May 1
April 30
1987
1986
Budget
Actual
Actual
$672,017
$676,091
$ 593,893
7,300
17,074
14,604
17,430
17,041
17,432
7,198
15,232
7,510
37,000
23,644
45,014
3,858
3,943
20,000
18,467
19,276
17,220
10,000
30,191
35,324
1,000
541
1,215
151,526
$923,471
$819,359
$ 738,211
923,471
790,816
844,890
-
$ 28,543
$(106,679)
See accompanying Notes to the Financial Statements.
279,091 385,770
$307,634 $ 279,091
1
52
VILLAGE OF DEERFIELD, ILLINOIS
LIBRARY FUND
STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1987
Budget Actual
Culture and Recreation
Salaries - Professional $186,378 $189,681
Salaries - Non -Professional 247,837 239,509
Salaries - Temporary
17,056
Employee Benefits
26,500
26,518
Professional Services
4,000
2,781
Education, Travel and Dues
6,000
5,735
Communication
7,500
5,565
Insurance
7,000
10,496
Contractual Services
17,000
8,848
Utilities
500
580
Repairs, Maintenance of Building and
Equipment Building Supplies
39,000
19,314
Carpet
50,000
31,201
1
Supplies - Library and Office
28,000
21,042
Books
100,000
68,924
Periodicals
Audio -Visual
22,000
26,000
23,902
11,566
Binding
1,000
994
Special Library Programs
2,300
2,564
Data Base
1,500
940
New Equipment
40,000
9,959
Printing
2,500
1,357
Computer Service
466
r
Cataloging Service
4,898
Miscellaneous
1,400
559
Automation Project
90,000
103,417
Total Expenditures
$923,471
$790,816
VILLAGE OF DEERFIELD, ILLINOIS
STREET AND BRIDGE FUND
SMTEKM OF REVENUES, EXPENDITURES,
AND CHARS IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR &MM APRIL 30, 1987
Revenues
Taxes
Property Taxes
Other Taxes
Licenses and Permits
Vehicle Licenses
Charges for Services
State Highway Maintenance
50/50 Sidewalk and Orb
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 of Revenues over Expenditures
before Other Financing Sources (Uses)
Other Financing Sources (Uses)
Operating Transfers In (Out)
General Fund
Camuter Parking lot Fund
Excess of Revenues and Other Sources
over Expenditures and Other Uses
Fluid Balance
May 1
April 30
See accompanying Notes to the Financial Statements.
1987
Budget Actual
$115,700
34,830
43,990
79,600
46,150
15,200
102,700
71,310
108,810
16,600
12,300
24,740
13,650
34,560
$720,140
$219,840
170,000
268,280
21,417
17,858
500
1,500
17,179
4,607
$721,181
$116,262
33,729
44,496
80,875
40,704
12,065
97,933
72,356
72,591
13,968
20,839
19,703
12,362
19,987
$657,870
$ 19,360 $ 63,311
$(33,000)
20,000
$ 20,000
13,000
$ 20,000
$ 6,360
$ 83,311
31,139
$114,450
1986
Actual
$231,940
146,000
266,624
8,187
11,057
1,500
5,741
4,299
$675,348
$ 93,165
35,748
37,698
81,199
43,667
15,162
106,883
51,823
113,153
13,592
16,102
22,817
8,446
22,984
$662,439
$ 12,909
1 /11
1 111
$ 32,909
53
54
VILLAGE OF DEERFIELD, ILLINOIS
STREET AND BRIDGE FUND
STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30. 1987
Budget
Actual
Highways and Streets
Public Works
Administration
Salaries
$ 32,850
$ 42,397
Overtime
3,650
835
Employee Benefits
5,000
5,720
Professional Services
2,200
160
Travel, Training and Dues
1,000
854
Printing and Advertising
4,400
3,569
Communications
Insurance
3,900
48,600
2,716
50,374
Motor Vehicle Maintenance
2,000
2,135
Miscellaneous
2,200
2,412
Supplies
3,000
1,583
Motor Vehicle Supplies
1,200
818
Apparel
1,600
Repairs and Maintenance
1,500
579
Contractual
1,200
719
Equipment
1,400
1,391
�Cleaning
$115,700
$116,262
Salaries
$ 13,900
$ 15,281
Overtime
1,050
1,252
Employee Benefits
1,380
1,899
Small Tools and Equipment
500
136
Contractual
3,700
1,567
Motor Vehicle Maintenance
4,000
1,630
Repairs and Maintenance
5,500
9,854
Equipment Rental
1,500
Motor Vehicle Supplies
1,500
1,484
Supplies
1,800
626
$ 34,830 $ 33,729
Traffic Marking
Salaries
$ 13,900
$ 15,703
Overtime
Part -Time
300
2,600
272
2,587
Employee Benefits
390
1,945
Motor Vehicle Maintenance
1,000
84
Repairs and Maintenance
800
760
Motor Vehicle Supplies
500
48
11
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55
VILLAGE OF DEERFIELD, ILLINOIS
STREET AND BRIDGE FUND
STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED APRIL 30, 1987
Budget Actual
Highways and Streets (Cont.)
Public Works (Cont.)
Traffic Marking (Cont.)
Materials $ 4,000 $ 4,874
Street Signs 6,500 4,985
Contractual 14,000 13,238
$43,990 $44,496
Pavement Patching
Salaries
$28,950
$31,088
Overtime
1,250
516
Employee Benefits
3,500
4,085
Motor Vehicle Maintenance
5,000
4,115
Repairs and Maintenance
5,500
1,166
Supplies
600
Motor Vehicle Supplies
2,000
808
Aggregates
30,800
37,208
Materials
2,000
1,889
$79,600
$80,875
Tarring Cracks
Salaries
$17,700
$16,518
Overtime
550
1,155
Part -Time
2,600
2,638
Employee Benefits
1,700
2,524
Motor Vehicle Maintenance
1,400
1,183
Repairs and Maintenance
1,200
2,663
Motor Vehicle Supplies
3,000
2,317
Aggregates
500
Materials
15,000
10,452
Equipment Rental
2,500
1,254
$46,150
$40,704
Drainage Structures
Salaries
$ 5,800
$ 6,562
Overtime
850
821
Employee Benefits
950
841
Motor Vehicle Maintenance
2,000
118
Repairs and Maintenance
2,300
815
Motor Vehicle Supplies
300
59
Aggregates
1,000
309
Materials
2,000
2,540
$15,200
$12,065
56
VILLAGE OF DEERFIELD, ILLINOIS
STREET AND BRIDGE FUND
STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED APRIL 30, 1987
Budget
Actual
Highways and Streets (Cont.)
Public Works (Cont.)
Street Lights and Traffic Signals
Salaries
$ 6,150
$ 6,783
Overtime
1,050
546
Employee Benefits
1,900
917
Contractual
31,000
16,205
Utility Services
48,000
58,104
Motor Vehicle Maintenance
1,500
2,261
Repairs and Maintenance
1,000
367
Equipment Rental
1,000
625
Motor Vehicle Supplies
800
779
Aggregates
300
225
Materials
10,000
11,121
$102,700
$97,933
' Miscellaneous Maintenance
Salaries $ 5,800 $ 7,003
Overtime 1,050 1,817
Employee Benefits
660
1,046
Contractual
53,700
54,053
Motor Vehicle Maintenance
1,000
1,143
Repairs and Maintenance
2,500
2,357
Small Tools and Equipment
300
211
Miscellaneous
500
Motor Vehicle Supplies
600
637
Aggregates
1,000
736
Materials
2,200
3,353
Equipment Rental
2,000
$ 71,310
$72,356
Snow and Ice Control
Salaries
$ 33,150
$ 9,463
Overtime
9,400
10,604
Employee Benefits
1,660
903
Communications
800
Motor Vehicle Maintenance
6,000
8,209
Repairs and Maintenance
11,000
18,444
Equipment Rental
1,000
555
Supplies
2,500
354
Motor Vehicle Supplies
5,300
1,373
Salt
32,000
16,874
r
57
VILLAGE OF DEERFIELD, ILLINOIS.
STREET AND BRIDGE FUND
STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED APRIL 30, 1987
Highways and Streets (Cont.)
Budget
Actual
Public Works (Cont.)
Snow and Ice Control (Cont.)
Aggregates
$ 4,000
$ 4,002'
Materials
2,000
1,810
$108,810
$72,591
Weed Control
Salaries
$ 5,800
$ 743
Overtime
Part -Time
100
2,600
34
1,384
Employee Benefits
700
253
Motor Vehicle Maintenance
1,000
167
Repairs and Maintenance
2,000
3,443
Motor Vehicle Supplies
500
414
Materials
3,000
6,341
Equipment
900
1,189
$ 16,600
$13,968
Leaf Removal
Salaries $ 6,150 $10,552
Overtime 1,050 2,495
Employee Benefits 1,300 1,406
Motor Vehicle Maintenance' 1,000 1,738
Repairs and Maintenance 2,500 4,309
Motor Vehicle Supplies 300 339
$ 12,300 $20,839
Tree Removal
Salaries
$ 5,800
$ 5,996
Overtime
650
155
Part -Time
4,100
3,092
Employee Benefits
490
650
Contractual
9,000
7,769
Motor Vehicle Maintenance
500
384
Repairs and Maintenance
600
380
Motor Vehicle Supplies
400
24
Materials
2,200
773
Equipment
500
480
Equipment Rental
500
$ 24,740
$19,703
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58
VILLAGE OF DEERFIELD, ILLINOIS
STREET AND BRIDGE FUND
STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED APRIL 30, 1987
Budget
Actual
Highways and Streets (Cont.)
Public Works (Cont.)
Tree Planting
Salaries
$ 5,800
$ 8,251
Overtime
400
Employee Benefits
1,550
392
Contractual
4,200
3,147
Motor Vehicle Maintenance
500
131
Repairs and Maintenance
300
44
Motor Vehicle Supplies
400
247
Materials
500
150
$ 13,650 $ 12,362
Railroad Station Maintenance
Salaries
$ 6,150
$ 3,515
Overtime
950
97
Part -Time
3,600
2,111
Employee Benefits
760
390
Contractual Services
8,300
636
Utility Services
2,500
Repairs and Maintenance
2,400
1,958
Supplies
1,500
3,410
Aggregates
500
40
Materials
7,900
7,830
$ 34,560 $ 19,987
Total Expenditures $720,140 $657,870
I
59
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. 1987
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
1987 1986
Budget Actual Actual
$325,000
$299,782
$271,808
6,000
7,069
6,047
10,000
10,963
8,815
2,592
$341,000
$320,406
$286,670
325,000 324,957 296,313
$ 16,000 $ (4,551) $ (9,643)
Fund Balance
May 1 (15,058) (5,415)
April 30 $09,609) $05,058)
See accompanying Notes to the Financial Statements.
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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. 1987
Revenues
Miscellaneous
Interest
Other
Total Revenues
Expenditures
General Government
Contractual
Excess (Deficiency) of Revenues
over Expenditures
1987 1986
Budget Actual Actual
$ 4,000
$ 2,000
$ 4,000 $ 2,000 -
8,000 - -
$(4,000) $ 2,000 -
Fund Balance
May 1 61,273 $61,273
April 30 $63,273 $61,273
See accompanying Notes to the Financial Statements.
.9
61
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. 1987
Revenues
Intergovernmental
Entitlements
Miscellaneous
Interest
Total Revenues
Expenditures
Excess of Revenues over Expenditures
before Other Financing (Uses)
Other Financing (Uses)
Operating Transfers (Out)
Debt Service Fund
General Fund
Excess (Deficiency) of Revenues over
Expenditures and Other Uses
Fund Balance
May 1
April 30
1987
1986
Budget
Actual
Actual
$ 57,000 $
25,434
$ 74,176
8,000
10,433
30,636
$ 65,000 $
35,867
$ 104,812
15,000
15,000
-
$ 50,000 $ 20,867 $ 104,812
$0 65,385)
$030,000) $030,000)
$(130,000) $(130,000) $(165,385)
$ (80,000) $0 09,133) $ (60,573)
See accompanying Notes to the Financial Statements.
111,940 172,513
$ 2,807 $ 111,940
62
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. 1987
Revenues
Intergovernmental
Allotments Earned
Miscellaneous
Interest
Other
Total Revenues
Expenditures
Highways and Streets
Street Maintenance
Street Resurfacing and
Renovation Program
Reconstruction Wilmot Road -
Lake Cook to Deerfield
Total Expenditures
Excess of Revenues
over Expenditures
1987
Budget Actual
$300,000
20,000
$320,000
$170,000
55,000
$225,000
$ 95,000
$294,011
15,364
698
$310,073
1986
Actual
$290,914
16,418
$307,332
$170,000 $146,001
885620 52,394
81,532
$258,620 $279,927
$ 51,453 $ 27,405
Fund Balance
May 1 256,345 228,940
April 30 $307,798 $256,345
See accompanying Notes to the Financial Statements.
63
VILLAGE OF DEERFIELD, ILLINOIS
TRANSPORTATION FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30. 1987
Revenues
Intergovernmental
Grant
Miscellaneous
Village Contribution
Total Revenues
Expenditures
General Government
Transportation
Excess (Deficiency) of Revenues
over Expenditures before Other
Financing Sources
Other Financing Sources
Operating Transfer In
General Fund
Excess of Revenues and Other
Sources over Expenditures
Fund Balance
May 1
April 30
1987 1986
Budget Actual Actual
$ 4,000 $ 3,477 $ 4,000
3,668
$ 4,000 $ 3,477 $ 7,668
6,000 4,636 8,892
$(2, 000) $0, 159) $0, 224)
See accompanying Notes to the Financial Statements.
2,000 2,000 2,000
$ 841 $ 776
4,254 3,478
$ 5,095 $ 4,254
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DEBT SERVICE FUND
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IDebt Service Fund
11
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Fund Description
Debt Service Fund - To account for the accumulation of resources for the payment of
General Long -Term Debt.
64
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VILLAGE OF DEERFIELD, ILLINOIS
DEBT SERVICE FUND
BALANCE SHEET
APRIL 30, 1987
ASSETS
1987 1986
Cash and Investments $1,151,764 $1,510,405
Receivables
Property Taxes 975,878 1,049,386
Accrued Interest 35,125 31,160
Due from Other Funds 56,490 34,845
Total Assets $2.219.257 $2.625.796
LIABILITIES AND FUND BALANCE
Liabilities
Cash Overdrafts $ 31,437
Interest Payable $ .29,701 34,400
Due to Other Funds 10,650
Deferred Property Taxes 1,097,942 1,136,622
Total Liabilities $1,138,293 $1,202,459
Fund Balance
Reserved for Debt Service 1,080,964 1,423,337
Total Liabilities and Fund Balance $2.219.257 $2.625.796
See accompanying Notes to the Financial Statements.
65 1
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, 1987
1987
Budget Actual
1986
Actual
Revenues
Taxes
Property Taxes
$
1,137,925
$
1,153,191
$
556,185
Replacement Taxes
29,000
49,201
42,085
Miscellaneous
Interest
75,000
135,183
110,686
Total Revenues
$
1,241,925
$
1,337,575
$
708,956
Expenditures
Debt Service
Principal Retirement
.
$-11,630,000
$
520,000
Interest
750,006
530,250
Fiscal Charges
835
Other
8,714
Total Expenditures
$
12,443,637
$
12,389,555
$1,050,250
Excess (Deficiency) of Revenues
over Expenditures before
Other Financing Sources
$(11,201,712)
$0 1,051,980)
$
(341,294)
Other Financing Sources (Uses)
Operating Transfers In (Out)
Capital Improvements Fund - Series A
$
(292,444)
$
276,750
Federal Revenue Sharing Fund
165,385
Tax Incremental Finance District Fund
$
208,712
208,712
192,775
Capital Improvements Fund - Series B
(202,661)
Computer Fund
(4,000)
Bond Proceeds
11,000,000
11,000,000
$
11,208,712
$
10,709,607
$
634,910
Excess (Deficiency) of Revenues and
Other Sources over Expenditures
and Other Uses
$
7,000
$
(342,373)
$
293,616
Fund Balance
May 1
April 30
See accompanying Notes to the Financial Statements.
1,423,337 1,129,721
$ 1,080,964 $1,423,337
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VILLAGE OF DEERFIELD, ILLINOIS
DEBT SERVICE FUND
STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1987
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
General Obligation Variable Rate Demand
Bond Series of 1984
Principal
Interest
General Obligation Variable Rate Demand
Bond Series of 1985
Principal
Interest
Corporate Purpose Bond Series of 1986
Principal
Interest
Police Addition Installment Contract of 1979
Principal
Interest
Fiscal Charges
Other
Total Expenditures
See accompanying Notes to the Financial Statements.
Budget
Actual
$ 75,000
21,538
125,000
42,563
100,000
24,250
25,000
43,525
50,000
32,250
4,100,000
24,287
6,900,000
40,874
100,000
510,444
155,000
10,275
835
8,714
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CAPITAL PROJECT FUNDS
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Fund Descriptions
Capital Projects Funds
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 Fund - Established in 1982 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 Improvements, Sanitary Improvements and a Street Rehabili-
tation Program.
Capital Improvements Series B Fund - Established in December, 1985, to provide
funds for major renovation to the Storm and Sanitary Sewers and a Street
Rehabilitation Program.
Brickyards Development Fund - Established for the purpose of providing improvements
to the area known as The Brickyards property. This includes construction of
Culverts, Creek Realignment, and the extension of Pfingsten Road, which includes a
bridge at Lake -Cook and an overpass at Kates Road.
Vehicle Replacement Fund - Established to account for the funds annually set aside
for the eventual replacement of certain vehicles.
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SPECIAL ASSESSMENT FUNDS
IFund Descriptions
ISpecial 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 colled-
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.
69
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PROPRIETARY FUND TYPES
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ENTERPRISE FUNDS
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Fund Descriptions
IWater Fund
Water Fund - To account for all activity necessary to provide water to the
residents of the Village of Deerfield including administration, operation,
maintenance, financing and related Debt Service.
Sewerage Fund
Sewerage Fund - To account for the provision of sewer service to the residents of
the Village of Deerfield. All activity necessary to provide such services is
accounted for in this fund including, but not limited to, administration,
' construction, maintenance, and operations of the Sewerage Treatment Plant.
Refuse Fund
Refuse Fund - To account for all revenues and expenses necessary to provide the
residents of the Village of Deerfield with refuse service.
Commuter Parking Lot Fund
Commuter Parking Lot Fund - To account for all activity necessary to construct,
operate, and maintain the commuter parking facilities within the Village.
It
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VILLAGE OF DEERFIELD, ILLINOIS
ENTERPRISE FUNDS
COMBINING BALANCE SHEET
APRIL 30, 1987
Commuter
Parking
Totals
Water
Sewerage
Refuse
Lot
1987
1986
ASSETS
Current Assets
Cash and Investments
$ 718,217
$ 922,429
$ 92,341
$164,524
$1,897,511
$1,492,632
Receivables
Property Taxes
378,651
378,651
360,067
Accrued Interest
3,566
5,265
1,750
10,581
5,460
Accounts
347,510
192,756
91,437
631,703
478,877
Other
20,617
13,723
34,340
33,536
Due from Other Funds
735
735
Inventory
40,890
8,303
49,193
41,213
$1,130,800
$1,142,476
$564,914
$164,524
$3,002,714
$2,411,785
Restricted Assets
Cash and Investments
$ 88,708
$ 88,708
$ 88,708
Fixed Assets (Net of
Accumulated Depreciation)
$ 459,624
$5,074,799
$448,056
$5,982,479
$5,927,072
Total Assets
$1,679,132
$6,217,275
$564,914
$612,580
$9,073,901
$8,427,565
LIABILITIES AND FUND EQUITY
Current Liabilities
Accounts Payable
$ 97,020
$ 52,002
$ 79,705
$ 3,280
$ 232,007
$ 180,129
Compensated Absences Payable
12,866
36,606
49,472
59,026
Other Payables
3,546
9,187
392
13,125
39,426
Due to Other Funds
1,867
2,126
3,459
7,452
5,977
$ 115,299
$ 99,921
$ 83,164
$ 3,672
$ 302,056
$ 284,558
Long -Term Liabilities
Revenue Bonds Payable
90,000
90,000
135,000
Total Liabilities
$ 205,299
$ 99,921
$ 83,164
$ 3,672
$ 392,056
$ 419,558
Fund Equity
Contributed Capital
$5,916,368
$626,240
$6,542,608
$6,243,001
Retained Earnings
Reserved - Restricted Accounts
$ 88,708
$ 88,708
$ 88,708
Unreserved
1,385,125
$ 200,986
$481,750
$0 7,332)
2,050,529
1,676,298
Total Retained Earnings
$1,473,833
$ 200,986
$481,750
$0 7,332)
$2,139,237
$1,765,006
Total Fund Equity
$1,473,833
$6,117,354
$481,750
$608,908
$8,681,845
$8,008,007
Total Liabilities and
Fund Equity
$1,679,132
$6,217,275
$564,914
$612,580
$9,073,901
$8,427,565
See accompanying Notes to the Financial Statements.
72 1
VILLAGE OF DEERFIELD, ILLINOIS
ENTERPRISE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN RETAINED EARNINGS - UNRESERVED
FOR THE YEAR ENDED APRIL 30, 1987
Commuter
Parking
Totals
Water
Sewerage
Refuse
Lot
1987
1986
Operating Revenues
Charges for Services
Water Sales
$1,795,892
$1,795,892
$1,360,193
Sewer Charges
$
948,122
948,122
880,600
Refuse Billings
$ 444,063
444,063
439,028
Parking Lot Fees
$ 90,953
90,953
90,731
Surcharges
94,056
94,056
78,491
Miscellaneous
56,978
56,155
113,133
115,515
Total Operating Revenues
$1-,852,870
$1,098,333
$ 444,063
$ 90,953
$3,486,219
$2,964,558
Operating Expenses Excluding
Depreciation
Administration
$ 119,044
$
171,484
$ 21,661
$ 312,189
$
251,314
Operations
1,398,619
740,567
842,129
$ 26,214
3,007,529
2,642,577
Total Operating Expenses
$1,517,663
$
912,051
$ 863,790
$ 26,214
$3,319,718
$2,893,891
Operating Income (Loss)
before Depreciation
$ 335,207
$
186,282
$(419,727)
$ 64,739
$ 166,501
$
70,667
Depreciation
61,329
206,478
30,698
298,505
282,857
Operating Income (Loss)
$ 273,878
$
(20,196)
$(419,727)
$ 34,041
$ (132,004)
$
(212,190)
Nonoperating Revenues (Expenses)
Interest Income
$
39,908
$
50,343 $
17,005
$
107,256
$
95,084
Property Taxes
424,717.
424,717
399,219
Interest Expense
(5,738)
(5,738)
(7,438)
$
34,170
$
50,343 $
441,722
-
$
526,235
$
486,865
Net Income before Operating Transfers
$
308,048
$
302147 $
21,995
$ 34,041
$
394,231
$
274,675
Operating Transfers (Out)
(20,000)
(20,000)
(20,000)
Net Income
$
3082048
$
30,147 $
21,995
$ 14,041
$
374,231
$
254,675
Retained Earnings - Unreserved
May 1
1,077,077
170,839
459,755
(31,373)
1,676,298
1,421,623
April 30
$1,385,125
$
200,986 $
481,750
$0 7,332)
$2,050,529
$1,676,298
See accompanying Notes to the Financial Statements.
73
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VILLAGE OF DEERFIELD, ILLINOIS
BALANCE SHEET
APRIL 30. 1987
1987
1986
ASSETS
Current Assets
Cash and Investments
$ 718,217
$ 521,276
Receivables
Accrued Interest
3,566
Accounts - Billed
85,914
75,209
- Unbilled
261,596
173,695
Other
20,617
33,536
Inventory
40,890
41,213
$1,130,800
$ 844,929
Restricted Assets
Cash and Investments
$ 88,708
$ 88,708
Fixed Assets
Cost
$1,109,119
$1,074,763
Accumulated Depreciation
649,495
588,166
$ 459,624
$ 486,597
Total Assets
$1,679,132
$1,420,234
LIABILITIES AND FUND EQUITY
Current Liabilities
Accounts Payable
$ 97,020
$ 71,238
Compensated Absences Payable
12,866
15,881
Other Payables
3,546
31,413
Due to Other Funds
1,867
917
$ 115,299
$ 119,449
Long -Term Liabilities
Revenue Bonds Payable
90,000
135,000
Total Liabilities
$ 205,299
$ 254,449
Fund Equity
Retained Earnings
Reserved - Restricted Accounts
$ 88,708
$ 88,708
Unreserved
1,385,125
1,077,077
Total Retained Earnings
$1,473,833
$1,165,785
Total Liabilities and Fund Equity
$1,679.132
$1.420.234
See accompanying Notes to the Financial Statements.
75
1
1
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1
1
VILLAGE'OF DEERFIELD, ILLINOIS
WATER FUND
STATEMENT OF CHANGES IN RETAINED EARNINGS - RESERVED - RESTRICTED ACCOUNTS
FOR THE YEAR ENDED APRIL 30. 1987
Principal
and Bo nd
Interest Depreciation Reserve Totals
Increases - - - -
Decreases - - - -
Net Increase (Decrease) - - - -
Account Balances
May 1 $21,708 $15,000 $52,000 $88,708
April 30 $21,708 $15,000 $52,000 $88,708
See accompanying Notes to the Financial Statements.
76 1
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, 1987
Operating Revenues
Charges for Services
Water Sales
Miscellaneous
Permits and Fees
Penalties
Other
Total Operating Revenues
Operating Expenses Excluding Depreciation
Administration
Operations
Distribution
Maintenance - Mains and Fire Hydrants
Maintenance - Meters
Total Operating Expenses
Operating Income
before Depreciation
Depreciation
Operating Income
Nonoperating Revenues (Expenses)
Interest Income
Interest Expense - Revenue Bonds
Net Income
Retained Earnings - Unreserved
May 1
April 30
1987 1986
Budget Actual Actual
$1,670,000 $1,795,892 $1,360,193
25,000 35,222 36,868
16,000 20,880 18,005
500 876 5,514
$1,711,500 $1,852,870 $1,420,580
$ 123,700 $ 119,044 $ 103,619
1,278,800 1,249,222 958,026
133,200 112,261 99,138
57,170 37,136 42,717
$1,592,870 $1,517,663 $1,203,500
$ 118,630 $ 335,207 $ 217,080
61,329 49,931
$ 118,630 $ 273,878 $ 167,149
$ 35,000 $ 39,908 $ 32,634
(6,800) (5,738) (7,438)
$ 28,200 $ 34,170 $ 25,196
$ 146,830 $ 308,048 $ 192,345
See accompanying Notes to the Financial Statements.
1,077,077 884,732
$1,385,125 $1,077,077
11
11
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11
11
VILLAGE OF DEERFIELD, ILLINOIS
STATEMENT OF OPERATING EXPENSES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1987
Administration
Salaries
Employee Benefits
Professional Services
Travel, Training and Dues
Printing and Advertising
Communications
Contractual Services
Insurance
Motor Vehicle Maintenance
Miscellaneous
Supplies
Equipment
Motor .Vehicle Supplies
Occupancy
Apparel
Bond Principal
Repairs and Maintenance
Total
Less Nonoperating Items
Bond Principal
Fixed Assets Capitalized
Total Administration
Operations
Distribution
Salaries
Overtime
Part -Time
Employee Benefits
Professional Services
Printing and Advertising
Contractual Services
Utility Services
Motor Vehicle Maintenance
Repairs and Maintenance
Miscellaneous
Purchase of Water
Supplies
77
Budget
Actual
$ 49,500
$ 56,883
6,600
6,885
3,700
300
654
700
1,281
8,000
8,669
1,000
593
36,900
26,365
1,200
2,201
300
1,132
500
1,001
1,400
1,282
700
547
12,000
12,000
1,500
833
40,000
45,000
$ 165,100 $ 165,326
$ 40,000
$ 45,000
1,400
1,282
$ 41,400
$ 46,282
$ 123,700
$ 119,044
$ 27,800
$ 31,025
5,900
1,931
76
2,600
3,872
1,500
1,495
1,100
5,800
8,137
84,900
68,982
1,200
3,117
3,000
2,543
1,300
7
1,140,000
1,123,705
500
1,027
78 1
VILLAGE OF DEERFIELD, ILLINOIS
STATEMENT OF OPERATING EXPENSES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED APRIL 30, 1987
Budget Actual
Operations (Cont.)
Distribution (Cont.)
Motor Vehicle Supplies $ 1,000 $ 186
Chlorine 1,000
Materials 1,200 3,119
Equipment 2,700 2,350
Total $1,281,500 $1,251,572
Less Nonoperating Items
Fixed Assets Capitalized 2,700 2,350
Total Distribution $1,278,800 $1,249,222
Maintenance - Main and Fire Hydrants
Salaries
$ 36,100
$ 30,527
Overtime
11,500
7,973
Part -Time
18,400
15,536
Employee Benefits
2,700
4,331
Contractual Services
20,900
14,320
'Motor Vehicle Maintenance
3,000
5,755
Repairs and Maintenance
10,500
3,828
Equipment Rental
1,000
Miscellaneous
400
227
Motor Vehicle Supplies
1,900
1,363
Small Tools and Equipment
300
163
Aggregates
6,000
6,723
Materials
20,500
21,515
Equipment
3,100
4,025
Improvements - Not Buildings
10,000
10,486
Total
$ 146,300
$ 126,772
Less Nonoperating Items
Fixed Assets Capitalized
13,100
14,511
Total Maintenance - Main and Fire Hydrants
$ 133,200
$ 112,261
I
79
1
1
1
1
1
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1
1
VILLAGE OF DEERFIELD, ILLINOIS
STATEMENT OF OPERATING EXPENSES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED APRIL 30, 1987
Budget
Actual
Operations (Cont.)
Maintenance - Meters
Salaries
$ 35,300
$ 27,631
Overtime
800
761
Part -Time
900
815
Employee Benefits
5,370
3,610
Professional Services
3,000
Travel, Training and Dues
300
Printing and Advertising
1,000
41
Contractual Services
2,200
Motor Vehicle Maintenance
2,000
1,854
Repairs and Maintenance
1,400
Miscellaneous
300
278
Supplies
300
126
Motor Vehicle Supplies
1,000
676
Materials
3,000
1,262
Small Tools and Equipment
300
82
Equipment
17,500
24,164
Total
$ 74,670
$ 61,300
Less Nonoperating Items
Fixed Assets Capitalized
17,500
24,164
Total Maintenance - Meters
$ 57,170
$ 37,136
Total Expenses
$1,592,870
$1,517,663
VILLAGE OF DEERFIELD, ILLINOIS
STATEMENT OF FIXED ASSETS AND DEPRECIATION
FOR THE YEAR ENDED APRIL 30, 1987
Assets
Balances Balances
May 1 Additions Deletions April 30
Water System $ 785,215 $ 2,536 $ 787,751
Equipment and Automotive 289,548 31,820 321,368
$1,074,763 $34,356 - $1,109,119
Accumulated Depreciation
Balances Balances
May 1 Provisions Deletions April 30
Water System $ 464,918 $19,630 $ 484,548
Equipment and Automotive 123,248 41,699 164,947
$ 588,166 $61,329 - $ 649,495
Net Asset Value $ 459,624
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VILLAGE OF DEERFIELD,'ILLINOIS
SEWERAGE FUND
BALANCE SHEET
APRIL 30. 1987
ASSETS
Current Assets
Cash and Investments
Receivables
Accrued Interest
Accounts - Billed
- Unbilled
Other
Inventory
Fixed Assets
Cost
Accumulated Depreciation
Total Assets
LIABILITIES AND FUND EQUITY
Current Liabilities
Accounts Payable
Compensated Absences Payable
Other Payables
Due to Other Funds
Total Liabilities
Fund Equity
Contributed Capital
Retained Earnings
Unreserved
Total Fund Equity
Total Liabilities and Fund Equity
See accompanying Notes to the Financial Statements.
1987 1986
$ 922,429 $ 773,284
5,265
4,747
33,784
24,569
158,972
115,161
13,723
8,303
$1,142,476
$ 917,761
t
$6,481,119
$6,161,562
1,406,320
1,199,841
$5,074,799
$4,961,721
$6,217,275 $5,879,482
$ 52,002
$ 40,690
36,606
42,178
9,187
7,513
2,126
1,501
$ 99,921
$ 91,882
$5,916,368 $5,616,761
$ 200,986 $ 170,839
$6,117,354 $5,787,600
$6,217,275 $5,879,482
81
82
STAMM OF REVENUES, EXPENSES,
AND CHANCES IN RETAINED EARNINGS - UNRESERVED - BUDGET AND ACIUAL
FOR THE YEAR ENDED APRIL 30, 1987
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
Operating Income (Loss) before Depreciation
Depreciation
Operating Income (Loss)
Nonoperating Revenues
Interest Income
Net Income
Other Changes in Retained Earnings - Unreserved
Intrafund Transfers In
Retained Earnings - Reserved -
Restricted Accounts
Net Increase in Retained Earnings - Unreserved
Retained Earnings - Unreserved
May 1
April 30
See accompanying Notes to the Financial Statements.
1987
1986
Budget
Actual
Actual
$920,000
$
948,122
$
880,600
44,262
43,424
25,000
49,794
35,067
25,000
41,230
40,670
11,000
11,485
10,673
2,000
3,440
3,785
$983,000
$1,098,333
$1,014,219
$170,700
$
171,484
$
134,594
515,750
556,766
490,298
115,770
93,028
106,053
128,520
90,773
123,772
$930,740
$
912,051
$
854,717
$ 52,260
$
186,282
$
159,502
68,500
206,478
202,228
$(16,240)
$
(20,196)
$
(42,726)
50,000
50,343
50,933
$ 33,760
$
30,147
$
8,207
170,000 - -
$203,760 $ 30,147 $ 8,207
170,839 162,632
$ 200,986 $ 170,839
1
83
1
VILLAGE OF.,DEERFIELD, ILLINOIS
SEWERAGE FUND
STATEMENT OF OPERATING EXPENSES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1987
Budget Actual
Administration
Salaries $ 49,500 $ 58,162
Overtime 500 162
Employee Benefits 6,800 7,256
Professional Services 2,200
Travel, Training and Dues 200 205
Printing and Advertising
100
17
Communications
2,200
2,345
Insurance
90,300
86,898
Motor Vehicle Maintenance
Repairs and Maintenance
900
1,300
512
Miscellaneous
700
514
Supplies
600
1,013
Motor Vehicle Supplies 700 705
Occupancy 12,000 12,000
Apparel 1,500 820
Contractual Services - 1,200 875
Total Administration $170,700 $171,484
Operations
Treatment Plant
1 Salaries $201,400 $193,119
Overtime 6,300 9,263
Part -Time 4,100 3,775
Employee Benefits
20,750
24,540
Professional Services
5,000
Travel, Training and Dues
900
1,044
Printing and Advertising
1,000
15
Communications
3,400
4,230
Contractual Services
34,500
41,870
Utility Services
172,900
192,392
Motor Vehicle Maintenance
3,000
2,620
Repairs and Maintenance
28,000
54,841
Equipment Rental
1,000
555
Supplies
Motor Vehicle Supplies
8,500
6,000
8,264
5,216
Chlorine
7,000
1,228
Aggregates
2,500
3,012
Materials
4,000
6,727
Street Signs
300
84
VILLAGE OF DEERFIELD, ILLINOIS
SEWERAGE FUND
STATEMENT OF OPERATING EXPENSES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30. 1987
Budget
Actual
Operations (Cont.)
Treatment Plant (Cont.)
Small Tools and Equipment
$ 500
$ 891
Apparel
1,700
790
Miscellaneous
3,000
2,374
Equipment
21,400
18,256
Improvements - Not Buildings
170,000
Total
$707,150
$575,022
Less Nonoperating Items
Fixed Assets Capitalized
191,400
18,256
Total Treatment Plant
$515,750
$556,766
Cleaning and Maintenance
Salaries
$ 47,700
$ 53,908
Overtime
4,400
2,789
Part -Time
2,400
1,863
Employee Benefits
7,370
5,886
Contractual Services
10,000
4,345
Motor Vehicle Maintenance
4,000
2,792
Repairs and Maintenance
5,000
3,117
Equipment Rental
3,000
Miscellaneous
2,000
Supplies
20,100
11,662
Motor Vehicle Supplies
1,500
795
Aggregates
1,000
763
Materials
7,000
4,999
Equipment
3,400
1,694
Small Tools and Equipment
300
109
Total
$119,170
$ 94,722
Less Nonoperating Items
Fixed Assets Capitalized
3,400
1,694
Total Cleaning and Maintenance
$115,770
$ 93,028
85
VILLAGE OF.DEERFIELD, ILLINOIS
SEWERAGE FUND
STATEMENT OF OPERATING EXPENSES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED APRIL 30, 1987
Operations (Cont.)
Construction
Salaries
Overtime
Part -Time
Employee Benefits
Contractual Services
Motor Vehicle Maintenance
Repairs and Maintenance
Equipment Rental
Supplies
Motor Vehicle Supplies
Aggregates
Materials
Small Tools and Equipment
Total Construction
Total Expenses
Budget Actual
$ 74,100 $ 63,686
2,100
94
1,200
1,257
8,920
9,476
5,000
3,622
5,500
2,459
7,500
2,052
1,000
2,000
1,961
2,000
2,156
5,000
665
14,000
3,345
200
$128,520 $ 90,773
$930,740 $912,051
m
VILLAGE OF DEERFIELD, ILLINOIS
SEWERAGE FUND
STATEMENT OF FIXED ASSETS AND DEPRECIATION
FOR THE YEAR ENDED APRIL 30, 1987
Sewer System and Plant
Equipment and Automotive
Sewer System and Plant
Equipment and Automotive
Assets
Balances
May 1 Additions Deletions
$5,953,497 $317,863
208,065 1,694
$6,161,562 $319,557 -
Accumulated Depreciation
Balances
April 30
$6,271,360
209,759
$6,481,119
Balances
Balances
May 1
Provisions Deletions
April 30
$1,102,679
$173,890
$1,276,569
97,162
32,589
129,751
$1,199,841
$206,479 -
$1,406,320
Net Asset Value $5,074,799
1%
1
1
1
1
1
1
1
1
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1
1
VILLAGE.OFDEERFIELD, ILLINOIS
BALANCE SHEET
APRIL 30, 1987
ASSETS
Current Assets
1987 1986
Cash and Investments $ 92,341 $ 79,869
Receivables
Property Taxes 378,651 360,067
Accrued Interest 1,750 713
Accounts - Billed 19,121 19,445
- Unbilled 72,316 70,798
Due from Other Funds 735
Total Assets $564,914 $530,892
LIABILITIES AND FUND EQUITY
Current Liabilities
Account Payable $ 79,705 $ 67,578
Due to Other Funds 3,459 3,559
Total Liabilities $ 83,164 $ 71,137
Fund Equity
Retained Earnings
Unreserved 481,750 459,755
Total Liabilities and Fund Equity $564,914 $530,892
See accompanying Notes to the Financial Statements.
EN3
VILLAGE OF DEERFIELD, ILLINOIS
STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN RETAINED EARNINGS - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1987
1987
1986
Budget
Actual
Actual
Operating Revenues
Charges for Services
Refuse Billing
$
438,000
$ 444,063
$
439,028
Operating Expenses
Administration
$
15,000
$ 21,661
$
13,101
Operations
Contractual Services
850,000
842,129
797,134
Total Operating Expenses
$
865,000
$ 863,790
$
810,235
Operating Income (Loss)
$(427,000)
$(419,727)
$(371,207)
Nonoperating Revenues (Expenses)
Interest Income
$
15,000
$ 17,005
$
11,517
Property Taxes
425,000
424,717
399,219
$
440,000
$ 441,722
$
410,736
Net Income
$
13,000
$ 21,995
$
39,529
Retained Earnings
May 1
459,755
420,226
April 30
$ 481,750
$
459,755
See accompanying Notes to the Financial Statements.
1
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VILLAGE OY DEERFIELD, ILLINOIS
BALANCE SHEET
APRIL 30, 1987
ASSETS
Current Assets
Cash and Investments
Fixed Assets
Cost
Accumulated Depreciation
Total Assets
LIABILITIES AND FUND EQUITY
Current Liabilities
Accounts Payable
Compensated Absences 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.
1987 1986
$ 164,524 $ 118,203
$ 691,458 $ 691,458
(243,402) (212,704)
$ 448,056 $ 478,754
$ 612,580 $ 596,957
$ 3,280
$ 623
967
392
500
$ 3,672
$ 2,090
$ 626,240
$ 626,240
(17,332)
(31,373)
$ 608,908 $ 594,867
$ 612,580 $ 596,957
L-1k,
90
VILLAGE OF DEERFIELD, ILLINOIS
COMMUTER PARKING LOT FUND
STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN RETAINED EARNINGS - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1987
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
Retained Earnings
May 1
April 30
1987
1986
Budget Actual Actual
$ 93,000 $ 90,953 $ 90,731
25,530 26,214 25,439
$ 67,470 $ 64,739 $ 65,292
30,698 30,698
$ 67,470 $ 34,041 $ 34,594
(20,000) (20,000) (20,000)
$ 47,470 $ 14,041 $ 14,594
See accompanying Notes to the Financial Statements.
(31,373) (45,967)
$07,332) $(31,373)
91
VILLAGE OF DEERFIELD, ILLINOIS
COMMUTER PARKING LOT FUND
STATEMENT OF OPERATING EXPENSES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1987
Budget
Actual
Operations
Parking Lots - Village and Federal Funds
Salaries
$ 3,200
$ 3,481
Benefits
140
243
Insurance
400
321
Utility Services
2,000
2,748
Repairs and Maintenance
1,000
Supplies
500
Aggregates
500
Equipment
500
Property Rentals
7,500
7,440
Materials
800
640
Total
$16,540
$14,873
Less Nonoperating Items
Fixed Assets Capitalized
500
-
Total Parking Lots - Village and Federal Funds
$16,040
$14,873
Parking Lots - Village Construction
Salaries
$ 3,400
$ 3,525
Overtime
170
Benefits
140
250
Insurance
350
320
Utility Services
2,800
5,988
Repairs and Maintenance
1,000
44
Supplies
500
143
Aggregates
200
Materials
1,000
901
Equipment
100
Total Parking Lots - Village Construction
$ 9,490
$11,341
Total Operating Expenses
$25,530
$26,214
92
Land
Parking Lot
Parking Lot
Net Asset Value
VILLAGE OF DEERFIELD, ILLINOIS
COMMUTER PARKING LOT FUND
STATEMENT OF FIXED ASSETS AND DEPRECIATION
FOR THE YEAR ENDED APRIL 30, 1987
Balances
May 1
$ 77,500
613,958
$691,458
Assets
Additions Deletions
Accumulated Depreciation
Balances
April 30
$ 77,500
613,958
$691,458
Balances
Balances
May 1 Provisions Deletions
April 30
$212,704 $30,698
$243,402
$212,704 $30,698 -
$243,402
$448,056
1
1
1
1
L
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INTERNAL SERVICE FUND
1
Fund Description
1 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.
I
93
1
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1
VILLAGE OF DEERFIELD, ILLINOIS
BALANCE SHEET
APRIL 30. 1987
ASSETS
Due from Other Funds
Inventory
Total Assets
LIABILITIES AND FUND EQUITY
Liabilities
Cash Overdrafts
Accounts Payable
Other Payables
Compensated Absences Payable
Total Liabilities
Fund Equity
Retained Earnings
Unreserved
Total Liabilities and Fund Equity
See accompanying Notes to the Financial Statements.
1987 1986
$13,281
$10,761
33,010
29,101
$46,291
$39,862
$40,200
$ 7,244
5,224
8,957
1,144
8,028
7,000
$54,596
$23,201
(8,305) 16,661
$46,291 $39,862
94
VILLAGE OF DEERFIELD, ILLINOIS
GARAGE FUND
STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN RETAINED EARNINGS - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1987
Operating Revenues
Charges for Services
Billings
Operating Expenses
Operations
Net Income (Loss)
Retained Earnings
May 1
April 30
1987 1986
Budget Actual Actual
$148,300 $125,369 $128,562
146,000 150,335 143,129
$ 2,300 $(24,966) $0 4,567)
See accompanying Notes to the Financial Statements.
16,661
$ (8,305)
31,228
$ 16,661
95
VILLAGE OF DEERFIELD, ILLINOIS
STATEMENT OF CHANGES IN FINANCIAL POSITION
FOR THE YEAR ENDED APRIL 30, 1987
Cash Was Provided By
Increase in Current Liabilities
Cash Was Used To
Fund Operations
Net Loss
Increase Current Assets
Decrease in Current Liabilities
Net Increase (Decrease)
Cash and Investments
May 1
April 30
See accompanying Notes to the Financial Statements.
Totals
1987 1986
$ 4,241
$ 24,966
6,429
1,561
$ 32,956
$ 14,567
4,200
$ 18,767
$ 0 2,956) $(14,526)
(7,244)
$(40,200)
7,282
$ (7,244)
96
VILLAGE OF DEERFIELD, ILLINOIS
STATEMENT OF OPERATING EXPENSES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1987
Operations
Public Works Department
Salaries
Overtime
Employee Benefits
Apparel
Travel, Training and Dues
Printing and Advertising
Insurance
Miscellaneous
Professional Services
Contractual Services
Utility Services
Repairs and Maintenance
Supplies
Motor Vehicle Supplies
Equipment
Communications
Materials
Small.Tools and Equipment
Total Operating Expenses
Budget Actual.
$ 59,500 $ 59,472
5,300
5,685
7,450
7,529
500
260
500
114
400
275
6,800
6,755
200
64
50
42
1,300
852
5,000
5,092
47,400
53,645
800
174
8,000
7,880
800
113
500
762
1,500
1,621
$146,000 $150,335
FIDUCIARY FUND TYPES
1
1
11
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TRUST AND AGENCY FUNDS
1
'1 Fund Descriptions
Police Pension Fund
l�l
Police Pension Fund - To account for the
resources necessary to provide retirement
and disability benefits to personnel
of the Village of Deerfield Police
l
`
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.
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98
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, 1987
1987
Operating Revenues
Taxes
Property Taxes
Replacement Taxes
Contributions
Employee Contributions
Miscellaneous
Interest
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
Budget
$175,000
5,000
105,000
390,000
$675,000
$100,000
20,000
500
$120,500
$554,500
$554,500
See accompanying Notes to the Financial Statements.
Actual
$ 174,880
5,554
99,923
381,538
77,330
$ 739,225
$ 83,885
17,050
$ 638,191
$ 639,091
3,772,538
Q, A I I Ala
1986
Actual
$ 168,972
4,751
97,525
361,378
$ 632,626
$ 67,873
937
$ 68,810
$ 563,816
3,208,722
4z1 771 r1gQ
1
1
VILLAGE OF DEERFIELD, ILLINOIS
TRUST AND AGENCY FUNDS
POLICE PENSION FUND
STATEMENT OF CHANGES IN FINANCIAL POSITION
FOR THE YEAR ENDED APRIL 30, 1987
Total
1987 1986
Cash Was Provided By
Operations
Net Income
$
639,091
$
563,816
Increase in Current Liabilities
1,528
Decrease Current Assets
13,419
$
652,510
$
565,344
Cash Was Used To
Increase Current Assets
$
14,957
Decrease in Current Liabilities
$
122
$
122
$
14,957
Net Increase
$
652,388
$
550,387
Cash and Investments
May 1
3,519,283
2,968,896
April 30
$4,171,671
$3,519,283
See accompanying Notes to the Financial Statements.
99
VILLAGE OF DEERFIELD, ILLINOIS
AGENCY FUNDS
COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
FOR THE YEAR ENDED APRIL 3 , 1987
Balances
May 1
Increase
Decrease
All Funds
ASSETS
Cash and Investments
$ 67,845
$ 5,429
Receivables - Other
1,012
$ 1,012
Due from Other Funds
1,214
Assets Held by Agents for Deferred
Compensation Plan (Market Value)
485,873
165,086
11,070
Total Assets
$555,944
$170,515
$12,082
LIABILITIES
Accounts Payable
$ 1,168
$ 3,613
Deposits Payable
68,903
$ 1,954
Due to Other Funds
2,758
Due to Participants
485,873
165,086
11,070
Total Liabilities
$555,944
$171,457
$13,024
Deposit Fund
ASSETS
Cash and Investments
$ 67,845
$ 5,429
Receivables - Other
1,012
$ 1,012
Due from Other Funds
1,214
Total Assets
$ 70,071
$ 5,429.
$ 1,012
LIABILITIES
Accounts Payable
$ 1,168
$ 3,613
Deposits Payable
68,903
$ 1,954
Due to Other Funds
2,758
Total Liabilities
$ 70,071
$ 6,371
$ 1,954
Deferred Compensation Plan Fund
ASSETS
Assets Held by Agents for Deferred
Compensation Plan (Market Value) $485,873 $165,086 $11,070
LIABILITIES
Due to Participants $485,873 $165,086 $11,070
See accompanying Notes to the Financial Statements.
100
Balances
April 30
$ 73,274
1,214
639,889
$714,377
$ 4,781
66,49949
2,758
639,889
$714,377
$ 73,274
1,214
$ 74,488
$ 4,781
6949
2,,758758
2
$ 74,488
r�
$639,889
r �
$639,889
11
I
I
1
I
ACCOUNT GROUPS
I
t
General Fixed Assets
Account Group
,t To account for fixed assets not in proprietary fund operations or accounted for in
trust funds.
1
I
1,
1,
101
VILLAGE OF DEERFIELD, ILLINOIS
GENERAL FIXED ASSETS ACCOUNT GROUP
STATEMENT OF GENERAL FIXED ASSETS
APRIL 30. 1987
GENERAL FIXED ASSETS
Land $1,929,477
Buildings and Improvements 1,237,500
Vehicles 412,994
Equipment 1,113,035
IV. gal nnA
INVESTMENT IN GENERAL FIXED ASSETS
General Revenues
General Obligation Bonds
Installment Contracts
See accompanying Notes to the Financial Statements.
$2,793,006
1,500,000
400,000
$4,693,006
ell
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103
VILLAGE OF DEERFIELD, ILLINOIS
GENERAL FIXED ASSETS ACCOUNT GROUP
STATEMENT OF CHANGES IN GENERAL FIXED ASSETS - BY FUNCTION AND ACTIVITY
FOR THE YEAR ENDED APRIL 30, 1987
Balances
Balances
Function and Activity May 1
Additions
Deletions
April 30
General Government $1,072,543
$ 74,923
$ 2,614
$1,144,852
Public Safety 2,717,730
25,500
29,315
2,713,915
Public Works 756,347
104,872
26,980
834,239
$4,546,620
$205,295
$58,909
$4,693,006
I
General Long -Term Debt
Account Group
1
To account for the long-term portion of the Village's Bond Issues and Installment
Contracts.
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SUPPLEMENTARY DATA
i 105
Val" OF DEERFIELD, ILLINOIS
ALL FUNDS
COMBINED STATEMENT OF CASH AND INVESTMa4TS
APRIL 30, 1987
Cash
on
Denand
Total
Hand
Deposits
Investments
1987
1986
General
$1,075
$(712,940)
$ 3,926,909
$ 3,215,044
3,147 158
Special Revenue
Municipal Audit
$ 12,356
$ 12,356
$ 12,846
Emergency Services and Disaster
19,645
19,645
18,199
Youth Bound
8,557
8,557
8,140
Library
$ 600
46,774
$ 364,281 -
411,655-
362,435
Street and Bridge
187,535
128,313
315,848
99,141
Illinois Municipal Retirement
(233,217)
250,000
16,783
36,009
Public Benefit
63,273
63,273
61,273
Federal Revenue Sharing
(1,567)
4,374
2,807
96,695
Motor Fuel Tax
8,849
275,000
283,849
233,868
Transportation
5,963
5,963
4,986
$ 000
$ 118,168
$ 1,021,968
$ 1,140,736
$ 933,592
Debt Service
$(164,759)
$ 1,316,523
$ 1,151,764
$ 1,478,968
Capital Projects
Land Acquisition
$ 158,625
$ 158,625
$ 158,625
Capital Projects
(83,385)
$ 133,916
50,531
18,307
Tax Incremental Finance District
992,089
1,755,048
2,747,137
1,481,576
Capital Improvements Series A
(9,873)
1,111,751
1,101,878
1,627,444
Capital Improvements Series B
(160,600)
6,519,109
6,358,509
6,413,287
Brickyards Development
8,565
8,565
(7,846)
Vehicle Replacement
(197,426)
750,000
552,574
$ 707,995
$10,269,824
$10,977,819
$ 9,691,393
Special Assessments
$ 59,197
$ 59,197
$ 50,011
Enterprise
Water
$ 78,176
$ 728,749
$ 806,925
$ 609,984
Sewerage
12,839
909,590
922,429
773,284
Refuse
(57,659)
150,000
92,341
79,869
Commuter Parking Lot
164,524
164,524
118,203
$ 197,880
$ 1,788,339
$ 1,986,219
$ 1,581,340
Internal Service
Garage
$ (40,200)
$ (40,200)
$ (7,244)
Trust and Agency
Police Pension
$ 92,507
$ 4,079,164
$ 4,171,671
$ 3,519,283
Deposit
44,653
28,621
73,274
67,845
$ 137,160
$ 4,107,785
$ 4,244,945
$ 3,587,128
$1,675
$ 243,304
$22,490,545
$22,735,524
$20,462,346
nul
VILLAGE OF DEERFIELD, ILLINOIS
LONG-TERM DEBT REQUIREMENTS
SEWERAGE IMPROVEMENT BOND SERIES OF 1973
APRIL 30, 1987
Date of Issue
Date of Maturity
Authorized Issue
Actual Issue
Denomination of Bonds
Interest Rate
Principal Maturity Date
Interest Dates
Payable at
June 1, 1973
December 1, 1992
$1,080,000
$1,080,000
$5,000
4.4%-5.1%
December 1
June 1 and December 1
Belleville National Savings
Bank
PRINCIPAL AND INTEREST REQUIREMENTS
Tax
Bond
Levy
Numbers
Year
Principal
122-136
1985
137-151
1986
$ 75,000
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
Interest Total
$ 9,888
$ 9,888
17,975
92,975
14,337
89,337
10,625
85,625
6,875
81,875
3,750
53,750
1,250
51,250
Coupons Due on
Dec. 1 Amount June 1 Amount
1987 $ 9,888
1987 $ 9,888 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
$400,000 $64,700 $464,700 $32,350 $32,350
107
VILLAGE OF DEERFIELD, ILLINOIS
LONG-TERM DEBT REQUIREMENTS
SEWERAGE TREATMENT FACILITIES BOND SERIES OF 1973
APRIL 30, 1987
Date of Issue
Date of Maturity
Authorized Issue
Actual Issue
Denomination of Bonds
Interest Rate
Principal Maturity Date
Interest Dates
Payable at
Bond
Numbers
216-240
241-265
266-296
297-315
316-340
341-370
371-400
Tax
Levy
Year
1985
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 Total
$ 19,813 $ 19,813
$125,000
36,625
161,625
125,000
30,562
155,562
125,000
24,375
149,375
125,000
18,125
143,125
150,000
11,250
1612250
150,000
3,750
153,750
$800,000 $144,500 $944,500
Coupons Due on
Dec. 1
Amount
June 1
Amount
1987
$19,813
1987
$19,813
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
$72,250 $72,250
108 1
VILLAGE OF DEERFIELD, ILLINOIS
LONG-TERM DEBT REQUIREMENTS
CORPORATE PURPOSE BOND SERIES OF 1983
,
APRIL 30, 1987
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
Coupons
Due on
Numbers Year
Principal
Interest Total June 1
Amount
Dec. 1 Amount
51- 75 1986
$125,000
$17,750 $142,750 1987
$ 8,875
1987 $ 8,875
76-100 1987
125,000
9,000 134,000 1988
4,500
1988 4,500
$250,000
$26,750 $276,750
$13,375
$13,375
1
109
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VILLAGE OF DEERFIELD, ILLINOIS
LONG-TERM DEBT REQUIREMENTS
CORPORATE PURPOSE BOND SERIES OF 1982
APRIL 30, 1987
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 10.25% - 9.60%
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 Total June 1 Amount Dec. 1 Amount
11-15
1986
$ 25,000
$ 40,962
$ 65,962
1987
$ 20,481
1987
$ 20,481
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
$450,000
$211,912
$661,912
$105,957
$105,955
110
VILLAGE OF DEERFIELD, ILLINOIS
LONG-TERM DEBT REQUIREMENTS
CORPORATE PURPOSE BOND SERIES OF 1982 - A
APRIL 30, 1987
Date of Issue
Date of Maturity
Authorized Issue
Actual Issue
Denomination of Bonds
Interest Rate
Principal Payment Date
Interest Dates
Payable at
December 1, 1982
December 1, 1993
$500,000
$500,000
$ 5,000
7.0% - 8.5%
December 1
June 1 and December 1
American Fletcher National
Bank, Indianapolis
PRINCIPAL AND INTEREST REQUIREMENTS
Tax
Bond
Levy
Coupons
Due on
Numbers
Year
Principal
Interest
Total
June 1
Amount
Dec. 1
Amount
31-40
1986
$ 50,000
$ 28,750
$ 78,750
1987
$14,375
1987
$14,375
41-50
1987
50,000
24,750
74,750
1988
12,375
1988
12,375
51-60
1988
50,000
20,750
70,750
1989
10,375
1989
10,375
61-70
1989
50,000
16,750
66,750
1990
8,375
1990
8,375
71-80
1990
50,000
12,750
62,750
1991
6,375
1991
6,375
81-90
1991
50,000
8,500
58,500
1992
4,250
1992
4,250
91-100
1992
50,000
4,250
54,250
1993
2,125
1993
2,125
$350,000
$116,500
$466,500
$58,250
$58,250
111
1
1
I
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I
VILLAGE OF DEERFIELD, ILLINOIS
LONG-TERM DEBT REQUIREMENTS
CORPORATE PURPOSE BOND SERIES OF 1986
APRIL 30, 1987
Date of Issue May 1, 1986
Date of Maturity January 1, 2005
Authorized Issue $11,000,000
Actual Issue $11,000,000
Denomination of Bonds $ 5,000
Interest 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
Total
Jan. 1
Amount
July 1
Amount
1986
$ 125,000
$ 758,862
$ 883,862
1988-
$ 379,431
1987
$ 379,431
1987
175,000
749,175
924,175
1989
374,588
1988
374,587
1988
300,000
735,613
1,035,613
1990
367,807
1989
367,806
1989
410,000
712,363
1,122,363
1991
356,182
1990
356,181
1990
445,000
680,588
1,125,588
1992
340,294
1991
340,294
1991
485,000
646,100
1,131,100
1993
323,050
1992
323,050
1992
515,000
608,513
1,123,513
1994
304,257
1993
304,256
1993
545,000
568,600
1,113,600
1995
284,300
1994
284,300
1994
580,000
529,905
1,109,905
1996
264,953
1995
264,952
1995
620,000
492,785
1,112,785
1997
246,393
1996
246,392
1996
660,000
452,485
1,112,485
1998
226,243
1997
226,242
1997
700,000
408,925
1,108,925
1999
204,463
1998
204,462
1998
750,000
362,025
1,112,025
2000
181,013
1999
181,012
1999
800,000
311,025
1,111,025
2001
155,513
2000
155,512
2000
855,000
255,825
1,110,825
2002
127,913
2001
127,912
2001
915,000
198,113
1,113,113
2003
99,057
2002
99,056
2002
975,000
136,350
1,111,350
2004
68,175
2003
68,175
2003
1,045,000
70,538
1,115,538
2005
35,269
2004
35,269
$10,900,000
$8,677,790
$19,577,790
$4,338,901
$4,338,889
VILLAGE OF DEERFIELD, ILLINOIS
LONG-TERM DEBT REQUIREMENTS
WATER REVENUE BOND SERIES OF 1960
APRIL 30, 1987
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
4.75% - 4.25%
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
Total
Nov. 1
Amount
May 1
Amount
1987
96-105
$10,000
$ 638
$10,638
1986
1987
$ 638
1988
106-115
10,000
850
10,850
1987
$ 425
1988
425
1989
116-125
10,000
425
10,425
1988
212
1989
213
$30,000
$1,913
$31,913
$ 637
$1,276
i
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VILLAGE OF DEERFIELD, ILLINOIS
LONG-TERM DEBT REQUIREMENTS
WATER REVENUE BOND SERIES OF 1959
APRIL 30, 1987
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 5% - 4.25%
Interest Dates November 1 - May 1
Principal Maturity Date May 1
Payable at LaSalle National Bank Chicago
PRINCIPAL AND INTEREST REQUIREMENTS
Ye ar
Bo nd
Ended
Numbers
Principal
Interest
1987
441-475
$ 35,000
$ 2,231
1988
476-510
35,000
2,976
1989
511-545
35,000
1,488
$105,000 $ 6,695
Coupons
Due on
Total
Nov. 1
Amount
May 1
Amount
$ 37,231
1986
1987
$2,231
37,976
1987
$1,488
1988
1,488
36,488
1988
744
1989
744
$111,695
$2,232
$4,463
VILLAGE OF DEERFIELD, ILLINOIS
POLICE PENSION FUND
STATEMENT OF OFFICERS' DEPOSITS
APRIL 30, 1987
Balance
Balance
May 1
Deposits
Withdrawals April 30
1050
Kenneth Anderson
$ 24,305
$ 3,725
$ 28,030
1075
Leo Anderson
24,001
3,691
27,692
1078
Mark Anfenson
7,689
2,825
10,514
1125
Marcea Ross
18,672
2,816
21,488
1325
Richard Brandt
37,332
4,943
42,275
1335
Kurt Bruno
1,702
2,179
3,881
1350
William Butler
31,440
2,816
34,256
1355
Louis Cacciator.e
4,081
2,350
6,431
1400
Robert Charles
32,544
32,544
1550
Gordon Cooper
26,387
26,387
1600
Robert Davenport, Jr.
39,268
4,078
43,346
1700
David P. Ebert
27,506
2,816
30,322
1750
John Elofson
25,053
2,816
27,869
1800
William Ennis
19,472
2,826
22,298
1853
Dani Beth Fir.fer
ill
111
1925
Marie Rose Gawne
16,798
2,434
19,232
2000
Robert Hamilton
35,677
3,433
39,110
2100
Thomas Hill
31,879
3,499
35,378
2125
George Hoffman
26,904
2,816
29,720
2225
Kevin.K. Keel
1,187
1,187
2250
Larry Kick
31,344
180
31,524
2365
Dave Lemmer
4,611
2,543
7,154
2430
Eric Lundahl
11,853
2,816
14,669
2525
Jeffrey McDermott
34,943
3,551
38,494
2715
Robert Ogden
10,408
2,816
13,224
2893
Rand J. Roel
7,027
2,670
9,697
2985
Michael E. Scarry
1,927
2,196
4,123
3025
John Sebben
24,021
2,816
26,837
3075
Thomas Sheahan
20,857
2,816
23,673
3125
Thomas Skrabala
29,793
4,093
33,886
3150
John Sliozis
19,709
3,464
23,173
3225
Michael Soler
22,247
2,816
25,063
3235
Melvin Soltwisch
2,515
2,240
4,755
3325
Gary Stryker
30,729
3,368
34,097
3500
Larry Tousignant
35,423
3,656
39,079
3525
David Turnbaugh
31,271
3,499
34,770
3650
Glenn E. Webb
16,858
$16, 858
3675
Richard Weil
11,363
2,816
14,179
,
380A
George Hall
9,604
9,604
380B
David J. Petersen
7,287
7,287
380C
Thomas G. Rogge
9,411
9,411
$803,911
$99,717
$16,858 $886,770
1
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Insureds
Village of Deerfield
Village of Deefield
Village of Deerfield
Village of Deerfield
Village of Deerfield
Public Officials
VILLAGE OF DEERFIELD., ILLINOIS
STATEMENT OF INSURANCE IN FORCE
APRIL 30, 1987
Description of Coverage
Workmens Compensation
Statutory/
$30,000,000
Comprehensive Automobile Liability
Bodily Injury and Property
$1,000,000
General Liability
$1,000,000
Blanket Building and Contents
$30,000,000
Boiler and Machinery
$10,000
Blanket Bond Coverage
$10, 000/
$1,000,000
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.
L
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ZIT
VILLAGE OF DEERFIELD, ILLINO.IS
PROPERTY TAX ASSESSED VALUATIONS, RATES,
EXTENSIONS AND COLLECTIONS
LAST TEN FISCAL YEARS
APRIL 30, 1987
(See Following Page)
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VILLAGE OF DEERFIELD, ILLINOIS
ASSESSED AND ESTIMATED VALUE OF TAXABLE PROPERTY
LAST TEN FISCAL YEARS
APRIL 30, 1987
Tax
Assessed
Value
Levy
Real
Personal
Railroad
Estimated
Year
Property
Property*
Property
Total
Value
1977
$151,516,439
$4,847,432
$34,815
$156,398,686
$469,000,000
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
711,000,000
1983
235,899,599
31,938
235,931,537
708,000,000
1984
245,799,001
39,522
245,838,523
738,000,000
1985
249,312,226
38,331
249,350,557
748,000,000
1986
279,339,024
47,194
279,386,218
839,000,000
* No longer assessed due to change in Illinois State Statutes.
Data Source
Office of the County Clerk
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VILLAGE OF DEERFIELD, ILLINOIS
SPECIAL ASSESSMENT COLLECTIONS
LAST TEN FISCAL YEARS
APRIL 30. 1987
Fiscal Assessments
Year Collections
1978
$64,952
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
Data Source
Village Records
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VILLAGE OF DEERFIELD, ILLINOIS
STATEMENT OF LEGAL DEBT MARGIN
APRIL 30, 1987
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
$ 400,000
Sewerage
Treatment
Facility Bonds
800,000
Corporate
Purpose
Bond Series
1982
450,000
Corporate
Purpose
Bond Series
1982-A
350,000
Corporate
Purpose
Bond Series
1983
250,000
Corporate
Purpose
Bond Series
1986
10,900,000
Legal Debt Margin
$279,386,218
$ 24,097,061
13,150,000
$ 10,947,061
124
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VILLAGE OF DEERFIELD, ILLINOIS
STATEMENT OF DIRECT AND OVERLAPPING DEBT
APRIL 30. 1987
Governmental Unit
Village of Deerfield
Cook County
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
Junior College #532
Total
(1)
Gross Debt
$ 13,150,000
337,050,000
647,390,000
52,015,000
5,880,000
930,000
9,775,000
900,000
350,000
590,000
9,216,500
(2)
* Percentage of
Debt Applicable
to the Village
100.000
.079
.080
5.060
.026
96.520
3.658
1.758
73.622
6.325
6.105
** Village's
Share of Debt
$13,150,000
266,270
517,912
2,631,959
15,288
897,636
357,570
15,822
257,677
37,318
562,667
SIR Mtn IIo
* - Determined by ratio of assessed value of property subject to taxation
in overlapping unit to valuee of proprty subject to taxation.
** - Amount in column (2) multipmlied by aount in column (1).
(1) Office of the County Clerk
(2) Office of the County Clerk
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VILLAGE OF DEERFIELD, ILLINOIS I
DEMOGRAPHIC STATISTICS
LAST TEN
FISCAL
YEARS
'
APRIL
30, 1987
(3)
Percentage of
,
People Over
(2)
25 Years of
(4)
(5)
Per
(2)
Age With Four
School
Unemploy-
Fiscal
(1)
Household
Median
or More Years
Enroll-
ment
,
Year
Population
Income
Age
of College
ment
Percentage
1978
17,717
$34,356
31.2
49.2
5,123
1.1%
'
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
1985
17,500
17,500
45,000
45,400
35.4
36.1
50.7
50.8
3,788
3,703
1.9
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
1
Data Sources
(1) 1980 - Census figure; 1978-79 estimated by using 1978-1980 Census data;
1981-1987 derived from data from the Department of Commerce and Community
Affairs.
(2) 1978-1980, Northeastern Illinois Planning Commission figures; 1981-1987 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.
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128
VILLAGE OF DEERFIELD, ILLINOIS
PROPERTY VALUE, CONSTRUCTION, AND BANK DEPOSITS
LAST TEN FISCAL YEARS
(1)
Commercial
Construction
Fiscal
Number
Year
of Units
Value
1978
66
$ 9,175,438
1979
81
5,994,271
1980
52
1,580,392
1981
59
3,235,868
1982
77
9,758,795
1983
84
20,369,020
1984
52
12,146,201
1985
101
34,504,614
1986
135
37,746,399
1987
79
44,287,589
Data Sources
APRIL 30, 1987
(1)
Residential
(3)
Construction
(2)
Total
Number
Bank
Property
of Units
Value
Deposits
Value
121
$ 3,649,126
$ 40,288,000
$465,000,000
50
1,176,405
42,531,000
519,000,000
67
5,650,240
49,178,000
564,000,000
85
1,852,788
52,282,000
664,000,000
86
1,689,832
53,522,000
682,000,000
104
5,673,638
63,218,000
711,000,000
46
5,131,160
63,877,000
708,000,000
50
6,552,552
64,750,000
710,800,000
90
11,318,142
130,155,000
748,100,000
86
8,089,179
141,241,000
838,160,000
(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
129
VILLAGE OF DEERFIELD, ILLINOIS
PRINCIPAL TAXPAYERS
APRIL 30, 1987
Taxpayers
Deerbrook Partnership
American National Bank
and Trust #51702
Travenol Labs, Inc.
Lake Cook Plaza
Walsh -Higgins Mgmt.
Sara Lee Incorporated
Draper & Kramer, Inc.
Floodstrom Construction
Teradyne
Whitehall Nursing Corp.
Data Source
Office of the County Clerk
Business
Deerbrook Shopping Center
Lake Cook Office Center
Office Buildings
Shopping Center
Tollway No. Off. Buildings
Bakery Products
Office Buildings
Office Buildings
Office Buildings
Skilled Nursing Facility
1986
Assessed
Valuation
Percentage
of Total
Assessed
Valuation
$14,631,093
5.24
12,994,497
4.65
7,790,719
2.79
5,007,201
1.79
4,656,572
1.67
4,402,772
1.58
3,605,256
1.29
2,858,938
1:02
2,771,042
.99
2,033,038
.73
$60,751,128
21.74%
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VILLAGE OF DEERFIELD, ILLINOIS
MISCELLANEOUS STATISTICS
APRIL 30, 1987
Date of Incorporation
Form of Government
Geographic Location
Area
Population
1950
1960
1970
1980
MUNICIPAL SERVICES AND FACILITIES
Fire Protection:
1903
Manager/Council
North Suburban
Chicago
3,288
11,748
18,876
17,430
130
Number of Stations
1
Number of Firemen and Officers
27
Police Protection:
Number of Stations
1
Number of Policemen and Officers
35
Education
Elementary Schools
7
High Schools
1
Municipal Water Department:
Number of Consumers
5,446
Average Daily Consumption
2,200,000 Gal.
Miles of Water Main
-70 Miles
Sewers
Sanitary Sewers 65 Miles
Storm Sewers 46 Miles
Building Permits Issued 898
Recreation and Culture
Number of Parks 131 Acres
Number of Libraries 1
Number of Volumes (Approx.) 1923698
Employees
Administration 26