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Village CAFR For Year Ended April 30, 1993lJ 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS Table of Contents PAGE INTRODUCTORY SECTION Principal Officials i Organization Chart Certificate of Achievement for Excellence in Financial Reporting Letter of Transmittal iv -xi FINANCIAL SECTION INDEPENDENT AUDITOR'S REPORT 1 GENERAL PURPOSE FINANCIAL STATEMENTS Combined Balance Sheet - All Fund Types and Account Groups 2 Combined Statement of Revenues, Expenditures, and Changes in Fund Balances - All Governmental and Fiduciary (Expendable Trust) Fund Types 3 Combined Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual - General, Special Revenue, and Debt Service Fund Types 4 Combined Statement of Revenues, Expenses, and Changes in Retained Earnings - Unreserved /Fund Balances - All Proprietary and Fiduciary (Pension Trust) Fund Types 5 Combined Statement of Cash Flows - All Proprietary Fund Types 6 Notes to the Financial Statements 7 -44 VILLAGE OF DEERFIELD, ILLINOIS Table of Contents PAGE FINANCIAL SECTION (CONT.) COMBINING. INDIVIDUAL FUND, AND ACCOUNT GROUP STATEMENTS AND SCHEDULES GOVERNMENTAL FUND TYPES GENERAL FUND General Fund Financial Statements Balance Sheet 45 Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 46 Supplemental Schedules Schedule of Revenues - Budget and Actual 47 Schedule of Expenditures - Budget and Actual 48 -50 SPECIAL REVENUE FUNDS All Funds Financial Statements Combining Balance Sheet 51 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 52 Municipal Audit Fund Financial Statements Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 53 Emergency Services /Disaster Fund Financial Statements Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 54 I VILLAGE OF DEERFIELD, ILLINOIS Table of Contents 1 1 F-I 1 1 1 1 1 1 1 1 1 1 1 1 1 FINANCIAL SECTION (CONT.) GOVERNMENTAL FUND TYPES (CONT.) SPECIAL REVENUE FUNDS (CONT.) Library Fund Financial Statements Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Supplemental Schedules Schedule of Expenditures - Budget and Actual Street and Bridge Fund Financial Statements Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Supplemental Schedules Schedule of Expenditures - Budget and Actual Illinois Municipal Retirement Fund Financial Statements Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 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 55 56 57 58 -61 62 63 64 VILLAGE OF DEERFIELD, ILLINOIS Table of Contents PAGE FINANCIAL SECTION (CONT.) GOVERNMENTAL FUND TYPES (CONT.) SPECIAL REVENUE FUNDS (CONT.) Enhanced 911 Fund Financial Statements Statement of Revenues, Expenditures, and Changes in Fund.Balance - Budget and Actual 65 DEBT SERVICE FUNDS All Funds Financial Statements Combining Balance Sheet 66 Combining Statement of Revenues, Expenditures, and Changes in Fund Balance 67 Combining Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 68 Debt Service Fund Supplemental Schedules Schedule of Expenditures - Budget and Actual 69 CAPITAL PROJECTS FUNDS All Funds Financial Statements Combining Balance Sheet 70 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 71 PROPRIETARY FUND TYPES ENTERPRISE FUNDS All Funds Financial Statements Combining Balance Sheet 72 Combining Statement of Revenues, Expenses, and Changes in Retained Earnings - Unreserved 73 Combining Statement of Cash Flows 74 1 1 VILLAGE OF DEERFIELD, ILLINOIS ' Table Contents of PAGE G ' FINANCIAL SECTION (CONT.) PROPRIETARY FUND TYPES (CONT.) ' ENTERPRISE FUNDS (CONT.) Water Fund Financial Statements Balance Sheet 75 Statement of Revenues, Expenses, and Changes in Retained Earnings - Unreserved - Budget and Actual 76 Supplemental Schedules Schedule of Operating Expenses - Budget and Actual 77 -79 Schedule 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 Schedules Schedule of Operating Expenses - Budget and Actual 83 -84 Schedule of Fixed Assets and Depreciation 85 ' Refuse Fund Financial Statements ' Balance Sheet 86 Statement of Revenues, Expenses, and Changes in Retained Earnings - Unreserved - Budget and Actual 87 Commuter Parking Lot Fund Financial Statements 1 Balance Sheet 88 Statement of Revenues, Expenses, and Changes in ' Retained Earnings - Unreserved - Budget and Actual 89 Supplemental Schedules Schedule of Operating Expenses - Budget and Actual 90 ' Schedule of Fixed Assets and Depreciation 91 1 1 VILLAGE OF DEERFIELD, ILLINOIS Table of Contents PAGE FINANCIAL SECTION (CONT.) PROPRIETARY FUND TYPES (CONT.) INTERNAL SERVICE FUNDS Internal Service Funds Financial Statements Comining Balance Sheet 92 Combining Statement of Revenues, Expenses, and Changes in Retained Earnings - Unreserved 93 Combining Statement of Cash Flows 94 Garage Fund Financial Statements Statement of Revenues, Expenditures, and Changes in Retained Earnings - Budget and Actual 95 Supplemental Schedules Schedule of Expenses - Budget and Actual 96 Insurance Fund Financial Statements Statement of Revenues, Expenditures, and Changes in Retained Earnings 97 FIDUCIARY FUND TYPES TRUST AND AGENCY FUNDS All Funds Financial Statements Combining Balance Sheet 98 Statement of Revenues, Expenditures, and Changes in Fund Balance (Expendable Trust Fund) 99 Statement of Revenues, Expenses, and Changes in Fund Balance - Budget and Actual (Pension Trust Fund) 100 Combining Statement of Changes in Assets and Liabilities (Agency Funds) 101 -102 I VILLAGE OF DEERFIELD, ILLINOIS Table of Contents PAGE ' FINANCIAL SECTION (CONT.) ACCOUNT GROUPS GENERAL FIXED ASSETS ACCOUNT GROUP Supplemental Schedules Schedule of General Fixed Assets - by Source 103 Schedule of General Fixed Assets - by Function Schedule of Changes in General Fixed Assets - 104 by Function 105 GENERAL LONG -TERM DEBT ACCOUNT GROUP Supplemental Schedules Schedule of General Long -Term Debt 106 1 1 1 1 1 SUPPLEMENTAL DATA Required Supplementary Information Analysis of Funding Progress Illinois Municipal Retirement Fund 107 Police Pension Fund 108 Revenues by Source Illinois Municipal Retirement Fund 109 Revenues by Source and Expenses by Type Police Pension Fund 110 Schedule of Insurance in Force 111 Long -Term Debt Requirements Corporate Purpose Bond Series of 1982 -A 112 ' Corporate Purpose Bond Series of 1986 113 Corporate Purpose Bond Series of 1987 114 General Obligation Bond Series of 1988 115 General Obligation Bond Series of 1991 116 Corporate Purpose Bond Series of 1993 117 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS Table of Contents , PAGE STATISTICAL SECTION General Governmental Revenues by Source - Last Ten Fiscal Years 118 General Governmental Expenditures by Function - Last Ten Fiscal Years 119 Property Tax Assessed Valuations, Rates, Extensions, and Collections - Last Ten Fiscal Years 120 Assessed and Estimated Actual Value of Taxable Property - Last Ten Fiscal Years 121 Property Tax Rates - Direct and Overlapping Governments - Last Ten Fiscal Years 122 Ratio of Net General Obligation Bonded Debt to Assessed Value and Net General Obligation Bonded Debt Per 123 Capita - Last Ten Fiscal Years Schedule of Direct and Overlapping Bonded Debt 124 Schedule of Legal Debt Margin 125 Ratio of Annual Debt Service Expenditures for General Obligation Bonded Debt to Total General Governmental Expenditures - 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 -131 1 1 1 1 1 1 i f 1 1 1 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS Principal Officials April 30, 1993 Harriet E. Rosenthal James L. Marovitz Marvin W. Ehlers LEGISLATIVE VILLAGE BOARD OF TRUSTEES Bernard Forrest, Mayor Robert D. Franz, Clerk ADMINISTRATIVE Robert D. Franz, Village Manager FINANCE DEPARTMENT George J. Valentine Director of Finance /Treasurer i Edwin B. Seidman Vernon E. Swanson Michael Swartz t VILLAGE OF DEERFIELD ORGANIZATIONAL CHART PUBLIC BOARDS MAYOR & BOARD & of TRUSTEES VILLAGE ATTORNEY COMMISSIONS ADMINISTRATIVE VILLAGE MANAGER ASSISTANT POLICE FINANCE COMMUNITY PUBLIC WORKS DEVELOPMENT &ENGINEERING ' PATROL BUDGETING PLANNING WATER WORKS INVESTIGATIONS ACCOUNTING ZONING SEWAGE ' TREATMENT YOUTH TREASURY CODE STREETS MANAGEMENT ENFORCEMENT BUILDING VEHICLE COMMUNICATIONS PERSONNEL PLAN MAINTENANCE REVIEW RECORDS BILLING PERMITS DRAINAGE ' RESEARCH APPEARANCE PLAN DESIGN & PURCHASING REVIEW &REVIEW DEVELOPMENT n 1 1 � Certificate of � Achievement � for Excellence � in Financial Reporting 1 Presented to � Village of Deerfield, � Illinois For its Comprehensive Annual ' Financial Report for the Fiscal Year Ended April 30, 1992 A Certificate of Achievement for Excellence in Financial Reporting is presented by the Government Finance Officers ' Association of the United States and Canada to government units and public employee retirement systems whose comprehensive annual financial reports (CAFRs) achieve the highest standards in government accounting and financial reporting. i �E OfF �9 r� IfIfD fTpII y Yi #M1 N GN101 wnoa�rou President SFAL s Executive Director I I iii 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD October 21, 1993 To: The Mayor and Board of Trustees and the residents of the Village of Deerfield The comprehensive annual financial report of the Village of Deerfield for the fiscal year ended April 30, 1993, is hereby submitted. Responsibility for both the accuracy of the data and the completeness and fairness of the presentation, including all disclosures, rests with the Village. To the best of our knowledge and belief, the enclosed data is accurate in all material respects and is reported in a manner designed to present fairly the financial position and results of operations of the various funds and account groups of the Village. All disclosures necessary to enable the reader to gain an understanding of the Village's financial activities have been included. The comprehensive annual financial report is presented in three sections: introductory, financial, and statistical. The introductory section includes this transmittal letter, the Village's organizational chart and a list of principal officials. The financial section includes the general purpose financial statements, the combining, individual fund, and account group financial statements and schedules, as well as the independent auditor's report on the financial statements and schedules. The statistical section includes selected financial and demographic information, generally presented on a multiyear basis. This report includes all funds and account groups of the Village. The Village provides a full range of services. These services include police protection; sanitation services; the construction and maintenance of highways, streets, sanitary sewers, waste water treatment infrastructure; and cultural events. In addition to general Village activities, the Village Board exercises, or has the ability to exercise, oversight of the Village of Deerfield Police Pension Retirement System and the Deerfield Public Library. These activities are included in the reporting entity; however, the West Deerfield Township, Highland 4ark Mosquito Abatement District, Deerfield Park District and Deerfield Bannockburn Fire Protection District have not met the established criteria for inclusion in the reporting entity, and, accordingly, are excluded from this report. iv 850 WAUKEGAN ROAD DEERFIELD, ILLINOIS 60015 TELEPHONE 708.945.5000 I ECONOMIC CONDITION AND OUTLOOK ' The northern Cook County and southern Lake County area has undergone rapid economic development. A major portion of this development is centered on the Lake Cook corridor. The Village of Deerfield is located in the ' middle of the Lake Cook corridor and in both counties. The Cook County area encompasses 11.6% of the Village's equalized assessed valuation, and, according to the 1990 census, the area is made up entirely of commercial properties. Recently completed were entrance and exit ramps for the ' Illinois toll road at Lake Cook Road which provide improved access and reduce dependency on the crowded Deerfield Road entrance. A further indication of the Village's financial growth is the Village's current inventory of 1050 hotel /motel rooms. This has increased from 1985 when the Village had no hotel rooms. This is important to the Village since the Village levies a 58 occupancy tax on rooms which yielded $999,040 for the year ending 4/30/93. Unemployment in Lake County in August 1993 was ' 4.88 compared with 7.5% in the state of Illinois and estimated 1.28 in Deerfield. Sara Lee, a bakery products company, closed its bakery operations in ' January 1991. The Village does not believe that this has had a significant impact on Village revenues since Sara Lee's assessed valuation at the time of closing was only 1.28 of the Village's total. This site was primarily ' a bakery goods processing plant and had little retail sales. The retail sales came from an adjacent resale parcel, still in existence, with approximate sales taxes of $10,000 per year. There were approximately 400 employees working for Sara Lee; however, their hiring area was spread ' throughout Lake and Cook Counties, and relatively few of the affected employees were residents of Deerfield. Therefore, any economic dislocations involved were spread over a broad area with minimal direct impact on the Village of Deerfield. Sara Lee's closing does open up the 50 acres of this site for redevelopment. The Village Planning Commission is examining the site for future redevelopment in view of the Village's Comprehensive Plan, and discussions are currently under way to rezone this ' site as R -5 (General Residential). The R -5 zoning will allow a mixture of housing types, which is consistent with the Village's comprehensive plan. The Village has expanded the Village Center Tax Increment Financing District to include Sara Lee. The Village sales tax revenue for 1993 was $2,212,747 compared to $2,105,112 for 1992. This is a 5.18 increase; considering the recession and that many other municipalities have shown dramatic decreases, this is a positive sign. All of these factors indicate that Deerfield is and will continue to be a financially vibrant community. MAJOR INITIATIVES For the Year The renovation of the storm and sanitary sewers, begun in 1982, is an ' ongoing program which is now in Phase III. Phase III was financed with a $3,000,000 bond issue sold in October 1988. The Village has provided a total capital funding of $14,000,000 for this project. Any additional ' renovation required will be smaller and will depend on specific demand. 1 The Village has continued its efforts to improve the appearance and economic vitality of the Central Business District, designated as a Tax Incremental Financing District. For the year, the TIF 2 district has had expenditures totalling $422,892 primarily for the completion of Robert York Drive and the acquisition of property. The Village, in conjunction with the U. S. Army Corps of Engineers and the Illinois Department of Transportation - Division of Water Resources, is completing the regional stormwater retention basin at the southwest corner of Lake -Cook and Pfingsten Roads. This project is part of the North Branch Stormwater Management Plan, providing protection to Deerfield and the downstream communities of Northbrook and Glenview. Scheduled for completion in late 1993, this multi -year construction project will continue to demand significant attention from the Village. In response to growing environmental awareness and concern for decreasing landfill capacity, Deerfield initiated the weekly curbside collection of recyclable newspapers, glass and cans from residences within the Village in September 1989. Plastic milk bottles were added to the program in October of 1990, and other plastics ( #1 and #2) in September of 1991. The curbside program, as well as other scavenger services, is administered through a negotiated contract with Laidlaw Waste Systems extended through December 31, 1995. As of November 1, 1992, mixed paper, plastics ( #3 and #4), corrugated cardboard and chipboard will be collected through the curbside collection program. 1990 also saw the implementation of Deerfield's yard waste collection program. Developed in response to the state ban on the landfilling of lawn wastes, more than 8,400 cubic yards have not been landfilled. Because of all these services, over 438 of the residential refuse was diverted from area landfills between July 1, 1992 and June 30, 1993. Approximately 878 of all families in the Village of Deerfield participate in the recycling program. For the Future In October 1986, the Village of Deerfield developed a plan to upgrade the overall quality and economic vitality of its Village Center (downtown). Located in the geographic center of the community, this six -block area exhibits many of the typical problems common to aging commercial districts throughout the country. Diverse ownership of inadequately sized and ill- arranged parcels has resulted in incompatible development, causing both visual and functional problems. The Village has added the 52 acre Sara Lee site to this district. After approving a redevelopment plan, the Village began acquiring key parcels of property, budgeted for public improvements essential to the area, developed a Streetscape Program for the two major streets which intersect within the Village Center, and has budgeted approximately $960,000 for the first stage of construction in 1993 -94. Experience has clearly shown that economic revitalization generally occurs in areas where there is a joint venture between the public and private sectors. Deerfield, in recognizing the importance of that philosophy, has begun a redevelopment program that commits substantial public funds to its Village Center. As might be expected, preference must be given to acquisition of property and basic capital improvements which will vi 1 ' After a successful second year, the Public Works Department is making preparations for the weekly collection of leaves from residential areas of the Village. Previously gathered only once each fall, the weekly pick -up during November is an increase in service due to the state ban on landfilling yard wastes and resident requests for additional service. Leaves are recycled into a landfill. FINANCIAL INFORMATION Management of the Village is responsible for establishing and maintaining an internal control structure designed to ensure that the assets of the t Village are protected from loss, theft or misuse and to ensure that adequate accounting data are compiled to allow for the preparation of financial statements in conformity with generally accepted accounting principles. The internal control structure is designed to provide ' reasonable, but not absolute, assurance that these objectives are met. The concept of reasonable assurance recognizes that: (1) the cost of a control should not exceed the benefits likely to be derived; and (2) the valuation of costs and benefits requires estimates and judgments by management. Budgeting Controls. In addition, the Village maintains budgetary controls. ' The objective of these budgetary controls is to ensure compliance with legal provisions embodied in the annual appropriated budget approved by the Village's governing body. Activities of the general fund, special revenue funds, debt service fund, internal service fund (garage fund), ' enterprise funds and pension trust funds are included in the annual appropriated budget. Project - length financial plans are adopted for the capital projects funds. ' The level of budgetary control (that is, the level at which expenditures cannot legally exceed the appropriated amount) is established at the fund level. The Village also maintains an encumbrance accounting system as t one technique of accomplishing budgetary control. Encumbered amounts lapse at year end. However, encumbrances generally are reappropriated as part of the following year's budget. ' As demonstrated by the statements and schedules included in the financial section of this report, the Village continues to meet its responsibility for sound financial management. vii promote, private investment in the area. At the same time, better pedestrian access and improvement of the general appearance of a downtown contribute significantly to its economic well- being. ' Reverse Commuter Grant The Village and the Lake Cook Road TMA (Transportation Management Association) will also continue to work with METRA (the metropolitan rail ' division of the Regional Transportation Authority) to develop a second commuter rail station within the Village. Planned to serve traditional and "reverse" commuters in the Lake -Cook corridor, the station will be located on part of the 26 acre site being developed jointly by Metra and Deerfield. Approximately 400 -500 commuter parking spaces will be provided during the initial phase of construction (1993 -94), with a total of 800 ' when development is completed. Recycling /Scavenger Service ' After a successful second year, the Public Works Department is making preparations for the weekly collection of leaves from residential areas of the Village. Previously gathered only once each fall, the weekly pick -up during November is an increase in service due to the state ban on landfilling yard wastes and resident requests for additional service. Leaves are recycled into a landfill. FINANCIAL INFORMATION Management of the Village is responsible for establishing and maintaining an internal control structure designed to ensure that the assets of the t Village are protected from loss, theft or misuse and to ensure that adequate accounting data are compiled to allow for the preparation of financial statements in conformity with generally accepted accounting principles. The internal control structure is designed to provide ' reasonable, but not absolute, assurance that these objectives are met. The concept of reasonable assurance recognizes that: (1) the cost of a control should not exceed the benefits likely to be derived; and (2) the valuation of costs and benefits requires estimates and judgments by management. Budgeting Controls. In addition, the Village maintains budgetary controls. ' The objective of these budgetary controls is to ensure compliance with legal provisions embodied in the annual appropriated budget approved by the Village's governing body. Activities of the general fund, special revenue funds, debt service fund, internal service fund (garage fund), ' enterprise funds and pension trust funds are included in the annual appropriated budget. Project - length financial plans are adopted for the capital projects funds. ' The level of budgetary control (that is, the level at which expenditures cannot legally exceed the appropriated amount) is established at the fund level. The Village also maintains an encumbrance accounting system as t one technique of accomplishing budgetary control. Encumbered amounts lapse at year end. However, encumbrances generally are reappropriated as part of the following year's budget. ' As demonstrated by the statements and schedules included in the financial section of this report, the Village continues to meet its responsibility for sound financial management. vii General Government Functions. The following schedule presents a summary of general fund, special revenue funds, and debt service funds revenues for the fiscal year ended April 30, 1993, and the amount and percentage of increases and decreases in relation to prior year revenues. Taxes. The general heading of taxes encompasses several different types of taxes, the largest of which is the property tax. Property tax makes up 448 of taxes or $3,209,591. This is an increase of $118,554 over the prior year, or a 3.68 increase. Sales tax is another major category of revenue. The Village receives a 18 tax on the exchange of tangible personal property. This tax is collected by the state of Illinois and remitted to the Village. For the year ending April 30, 1993, sales tax receipts totalled $2,212,747 or 308 of the total taxes received. This is an increase over the previous year of approximately 5.18. The Village believes that the increase is indicative of the strength of the Village business community in the midst of a general business stagnation and falling sales tax receipts in many communities. Another significant revenue source is the hotel tax, a 58 tax computed on gross room sales. This is a relatively new tax for the Village. The Village had no hotel rooms or hotel tax revenue in 1985, but now has more than 1000 rooms and 1992 -93 tax receipts of $999,040 which is 148 of total taxes received in 1992 -93. It is the Village's belief that this tax will continue to increase at a rate exceeding the cost of living. Licenses and Permits. Building permit revenue has increased to $99,175 an increase of $25,732. This is due to an increase in building activity in the Village. Miscellaneous. The decrease in Miscellaneous Revenue is due to a decrease of $190,000 in TIF 1 distributions. The 1991 -92 fiscal year library distribution had accumulations for a period in excess of one year. Subsequent distributions are for a one year period. The following schedule presents a summary of general fund, special revenue funds, and debt service funds expenditures for the fiscal year ended April 30, 1993, and the percentage of increases and decreases in relation to prior year amounts. viii Increase Percent Percent (Decrease) of Increase Revenues Amount of Total from 1992 (Decrease) Taxes 7,288,077 71.67 138,512 1.94 Licenses and Permits 554,421 5.45 23,748 4.48 Intergovernmental 368,906 3.63 (11,489) -3.02 Charges for Services 390,554 3.84 15,229 4.06 Fines 272,748 2.68 (903) .33 Interest 667,469 6.56 (73,975) -9.98 Miscellaneous 626,309 6.16 (268,040) -29.97 Total 10,168,484 100.00 (176,918) -1.71 Taxes. The general heading of taxes encompasses several different types of taxes, the largest of which is the property tax. Property tax makes up 448 of taxes or $3,209,591. This is an increase of $118,554 over the prior year, or a 3.68 increase. Sales tax is another major category of revenue. The Village receives a 18 tax on the exchange of tangible personal property. This tax is collected by the state of Illinois and remitted to the Village. For the year ending April 30, 1993, sales tax receipts totalled $2,212,747 or 308 of the total taxes received. This is an increase over the previous year of approximately 5.18. The Village believes that the increase is indicative of the strength of the Village business community in the midst of a general business stagnation and falling sales tax receipts in many communities. Another significant revenue source is the hotel tax, a 58 tax computed on gross room sales. This is a relatively new tax for the Village. The Village had no hotel rooms or hotel tax revenue in 1985, but now has more than 1000 rooms and 1992 -93 tax receipts of $999,040 which is 148 of total taxes received in 1992 -93. It is the Village's belief that this tax will continue to increase at a rate exceeding the cost of living. Licenses and Permits. Building permit revenue has increased to $99,175 an increase of $25,732. This is due to an increase in building activity in the Village. Miscellaneous. The decrease in Miscellaneous Revenue is due to a decrease of $190,000 in TIF 1 distributions. The 1991 -92 fiscal year library distribution had accumulations for a period in excess of one year. Subsequent distributions are for a one year period. The following schedule presents a summary of general fund, special revenue funds, and debt service funds expenditures for the fiscal year ended April 30, 1993, and the percentage of increases and decreases in relation to prior year amounts. viii ' 1992/93 Increase Percent Percent (Decrease) of Increase Expenditures Amount of Total from 1991 /92 (Decrease) ' Current General Government 1,533,365 15.98 142,613 10.25 Public Safety 2,994,894 31.21 (56,560) -1.85 Highways and Streets 1,065,267 11.10 (128,744) -10.78 ' Culture & Recreation 1,099,435 11.46 54,951 5.26 Miscellaneous 686,028 7.15 51,680 8.15 ' Debt Service Principal 1,260,000 13.13 365,000 40.78 Interest 955,642 9.96 (19,035) -1.95 ' Total 9,594,631 100.00 409,905 4.46 The increase in General Government was $142,613. This increase is due to an increase of $105,000 in professional expentitures due primarily to several lawsuits which were resolved in 1992 -93 and another which continues. The $56,560 decrease (2 %) in expenses in the Police Department is primarily ' the result of not buying squad cars in 1992 -93. Squad cars are generally purchased in eighteen month cycles. ' The decrease of $128,744 or 10.78% in Highways and Streets is the result of a reduction of Motor Fuel Tax expenditures. The funds are frequently reserved for specific projects and used as required, but because of the nature of the projects, these expenditures are not necessarily even from ' year to year. General Fund Balance. The undesignated fund balance has increased to $2,169,839 from $1,836,941 and the Village's designated fund balance has increased to $4,750,000. The designated fund balance represents the Village's continuing intent to fund a large portion of the downtown TIF by advances from the General Fund. At this point, the Village has advanced ' $1,320,000 and has an additional $3,500,000 designated for this project. In addition, the Village has designated $1,250,000 for future capital expenditures for repairs and maintenance of infrastructures. The Village's undesignated fund balance of $2,169,839 is the equivalent of 120 working ' days of expenditures. Enterprise Operations. The Village's enterprise operations are comprised of four separate and distinct activities: the Water Fund and Sewerage ' Funds, the Refuse Fund, and the Commuter Parking Lot Fund. The Water Fund operating expenses (before depreciation) were increased by approximately $58,000 due primarily to an increase in the cost of ' water purchased. The Water Fund had a net income of $141,542. In the Sewerage Fund, the total operating expenses decreased by $62,481, that is $1,269,913 vs. $1,332,394. The fund had a net loss of $202,750; ' however, operating loss before depreciation was $8,941. The Refuse Fund had a net income of $16,936. Expenses (excluding ' depreciation) decreased from $1,518,690 to $1,460,430, a 4% decrease. This was mainly due to successful negotiation of a new contract with the Village's refuse 'contractor. ix Pension Trust Fund Operations. The operations of the Village of Deerfield Police Pension Fund (PERS) remained relatively stable in 1993. For the year ending April 30, 1993, the pension benefit obligation funding level decreased to 110 %, from 119% the prior year. This is due to a change in actuarial assumptions. The rate of return on investments was reduced to 8.58 from 98 and the projected salaries to 68 from 6.58. Debt Administration. At April 30, 1993, the Village had a number of debt issues outstanding. These issues included $11,339,884 of net general obligation bonded debt and no revenue bonds. This total excludes a fully defeased $10,000,000 debt issue. The Village issued a general obligation bond on July 28, 1991. The Village continues to be rated AA+ by Moody's Investor's Service. The Village of Deerfield is a home rule municipality and as such has no debt limitations. If, however, the Village were a non -home rule village its available debt limit would be as follows: Assessed Valuation - 1992 547,603,297 Legal Debt Limit - 8.6258 47,230,783 Legal Debt Margin 35,890,899 Cash Management. Cash temporarily idle during the year was invested in demand deposits, certificates of deposit, obligations of the U.S. Treasury, and commercial paper. The pension's trust funds investment portfolio also includes insurance company separate accounts and a guaranteed investment contract. The average yield on investments, except for the Trust and Agency fund group, was 5.388. The pension trust fund achieved a yield rate of 10.158 on cash and investments. The higher rate of return on pension fund investments is attributable to the long -term nature of most holdings in its portfolio. The Village's investment performance ranks favorably when compared to average yield rates of 3.238 for 90 day U.S. Treasury bills and 6.68% for 10 year U.S. Treasury notes. The Village earned interest revenue of $1,202,140 on all investments except the Trust and Agency fund group and $789,704 in the Police Pension Fund. The Village's investment policy is to minimize credit and market risks while maintaining a competitive yield on its portfolio. The Village only utilizes banks and savings institutions which have a Sheshunoff rating of "B" or better. In addition, the Village accounts are fully collateralized or insured. As such, the Village has no uninsured or uncollateralized funds, and the collateral is held in the Village's name by a third party. The Village's investments total $40,680,614. Of these, $34,012,204 are in Category 1. Category 1 includes investments that are insured or registered or for which the securities are held by the government or its agent in the government's name. The remaining $6,672,410, as detailed below, is held in accounts not subject to risk categorization. $4,123,748 is invested in the Illinois Public Treasury Pool, $1,615,930 is in a deferred compensation plan asset account, and the remaining $932,732 is in life insurance company contracts. Risk Management. The Village participates in the Municipal Insurance Cooperative Agency, MICA. MICA is a governmental joint venture whose members are Illinois municipalities. MICA manages and funds first party property losses, third party liability claims, Workers' Compensation claims, and Public Officials Liability claims of its member municipalities. The Village's payments to MICA are displayed on the financial statements as expenditures /expenses in the appropriate funds. The Village also participates in the High -Level Excess Liability Pool, Illinois to provide x 1 ' excess liability coverage ($5,000,000 of coverage after a $1,000,000 self- insurance retention). The Village's payments to HELP are displayed on the financial statements as expenditures /expenses in appropriate funds. ' OTHER INFORK17ION Independent Audit. State statutes require an annual audit by independent certified public accountants. The accounting firm of Wolf & Company was selected by the Village's audit committee. The auditor's report on the general purpose financial statements and combining and individual fund statements and schedules is included in the financial section of this ' report. Awards. The Government Finance Officers Association of the United States t and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the Village of Deerfield for its comprehensive annual financial report for the fiscal year ended April 30, 1992. The Certificate of Achievement is a prestigious national award recognizing ' conformance with the highest standards for preparation of state and local government financial reports. In order to be awarded a Certificate of Achievement, a governmental unit ' must publish an easily readable and efficiently organized comprehensive annual financial report (CAFR) whose contents conform to program standards. Such CAFR must satisfy both generally accepted accounting principles and ' applicable legal requirements. A Certificate of Achievement is valid for a period of one year only. The Village of Deerfield has received a Certificate of Achievement for the ' last eight consecutive years. We believe our current report continues to conform to the Certificate of Achievement program requirements, and we are submitting it to the GFOA. ' Acknowledgments. The preparation of the comprehensive annual financial report on a timely basis was made possible by the dedicated service of the entire staff of the finance department. Each member of the department ' has our sincere appreciation for the contributions made in the preparation of this report. In closing, without the leadership and support of the Village Board, ' preparation of this report would not have been possible. R ctfully submitted, '•Finance rector 1 xi I Wolf &Company Certified Public Accountants 1 1 r 1 INDEPENDENT AUDITOR'S REPORT The Honorable Bernard Forrest, Mayor Members of the Board of Trustees Village of Deerfield, Illinois 2100 Clearwater Drive Oak Brook, Illinois 60521 -1927 (708) 574 -7800 FAX: (708) 574 -7818 We have audited the general purpose financial statements and the combining, individual fund, and account group financial statements of the Village of Deerfield, Illinois, as of and for the year ended April 30, 1993, as listed in the accompanying table of contents. These financial statements are the responsibility of the Village of Deerfield, Illinois' management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the general purpose financial statements referred to above present fairly, in all material respects, the financial position of the Village of Deerfield, Illinois, as of April 30, 1993, and the results of its operations and the cash flows of its proprietary fund types for the year then ended in conformity with generally accepted accounting principles. Also, in our opinion, the combining, individual fund, and account group financial statements referred to above present fairly, in all material respects, the financial position of each of the individual funds and account groups of the Village of Deerfield, Illinois, as of April 30, 1993, and the results of operations of such funds and the cash flows of individual proprietary funds for the year then ended in conformity with generally accepted accounting principles. Our audit was made for the purpose of forming an opinion on the general purpose financial statements and on the combining, individual fund, and account group financial statements taken as a whole. The accompanying financial information listed as supplemental and schedules in the accompanying table of contents is presented for purposes of additional analysis and is not a required part of the general purpose financial statements of the Village of Deerfield, Illinois. Such information has been subjected to the auditing procedures applied in the audit of the general purpose, combining, individual fund, and account group financial statements and, in our opinion, is fairly stated in all material respects in relation to the general purpose financial statements and each of the combining, individual fund, and account group financial statements taken as a whole. The introductory and statistical information listed in the table of contents was not audited by us and, accordingly, we do not express an opinion thereon. July 15, 1993 U) �26. r VILLAGE OF DEERFIELD, ILLINOIS All Fund Types and Account Groups s P Combined Balance Sheet April 30, 1993 1 I I 1 L 1 t (See Following Page) F e u� o� �C a 5� r;F< X111 9 � u a R •i i a a u Q _S y Fe c r r4 0o a r+ oSt !V gz 12 g N � � N yM _ W a •• 8 74 8a x a 8 Y 6 ►.Q u a s'? � Z'°� � sr�eu? �e p;> c 2 w p�OF �� m Z S^ F$ y A G L § w u Is a .6 u 0 z a J rr � Ih V 4.1 ri � � u b � O J y Fe c r r4 0o a r+ oSt !V gz 12 g N � � N yM _ W a •• 8 74 8a x a 8 Y 6 ►.Q u a s'? � Z'°� � sr�eu? �e p;> c 2 w p�OF �� m Z S^ F$ y A G L § w u Is a .6 u 0 �o .r g y Fe c r r4 0o a r+ oSt !V gz 12 g N � � N yM _ W a •• 8 74 8a x a 8 Y 6 ►.Q u a s'? � Z'°� � sr�eu? �e p;> c 2 w p�OF �� m Z S^ F$ y A G L § w u Is a .6 u 0 �v F S Y _ kFF� s •� M r 7 H < � f a V Q �r 9s q 14 N N ~ b € �R .r 0 ro u . v ° Y �•°ax� �� °�5�,(spD= v°' U�' p °py +$�pyyp« '8 «� p� �E� pap �? � � � � $ Ji � � V Q � '�.^ �mi ��p � •� � W �i iii W � � y Y-r 1G � � •.7 0.P['E"� C" $ , c�oxoccoaoo N c cr .r 0 ro u . v ° Y �•°ax� �� °�5�,(spD= v°' U�' p °py +$�pyyp« '8 «� p� �E� pap �? � � � � $ Ji � � V Q � '�.^ �mi ��p � •� � W �i iii W � � y Y-r 1G � � •.7 0.P['E"� C" $ , c�oxoccoaoo N O z a .a o z L� G t fzl Lz± � 0 � w e C7 °• C S � 1/1 1 i s a s L a i O i p�W Mg 69la � v v N r err _r acr 14'tRk EM 'rl .+ N OOVft�fMN��V O� -o e w Q cc v F ;14 X 4 x a' p� c a' 0 o� iy o Mg 69la � v v N r err _r acr 14'tRk EM 'rl .+ N � W e -o w Q cc 04i2 U r, F ;14 X 4 x a' p� \� \� .� . .� \� \� . � \� .� � § k 3 � ] ) \ 2 k ■ ƒ A § � (n 2 q �r _ § a §% e )) � 2 0 � � elf ) $ ƒ \ wk\ � 2 § ƒJ � C ) #m � A R � § k 3 � ] ) \ 2 k ■ ƒ A § � (n 2 _ § a §% 2 0 � � § k 3 � ] ) \ 2 k ■ ƒ A § � (n a � o E c °� 04 E a v RA e $� I x h Mil !` V�1 1P+1 44 cs TJ w' q "Q U .b O O � lu z � � V •• �v a •+ a �QN O9C Vi a cn a 'r N1 . 4 `O � Vm O ;, gab G7 5 jz W �* a � o E c °� 04 E a v RA e $� I x Mil !` V�1 1P+1 44 cs pP��pppyq VI O. C H !f ti C 0 .d O O � H � V 888888 § �8 �1G/� ��ppSS 8C 1VR�/fL�pppQl' •+ gyp N 1�3 N 0�0 ~ O9C Vi n a 'r N1 . 4 `O � Vm �OOq yV �r �� .+ 8 888 O 00p0 8r H a ppp00 S �D Vp 0papq� QOpp. yO� aa 0��17N Q.M+O �OO�D of kn Cl N fn N N N V1 u e C7 .. �5 ZS �S "y�i 1p2/p5� �1pp5 �2pp5 12/5 N yg�pN`i. en O wr !7 H a � o E c °� 04 E a v RA e $� I x 1 A 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 C < O O C H u C i 1 a+ a Q g a 7 < C W H e Z C t e u V i a Qg r �1c �C h N v h r e c Yl a N k F N N •+ H N Irl It v H H N a N H N a o N S 0 zi �1 r�i m �dA N 13 V _ u u e e 'w u z c E u 5 er r a O� °c E � _ o a m W e c u c 5 a !S� a o N S 0 zi �1 r�i m �dA N 13 V _ u u e e 'w u z c E u 5 er VEU AGE OF DEERFIELD, ILLINOIS All Proprietary and Fiduciary (Pension Trust) Fund Types Combined Statement of Revenues, Expenses, and Changes in Retained Earnings - Unreserved/Fund Balances Year Ended April 30, 1993 Operating Expenses Administration 479,911 Fiduciary 1,193,655 456,922 Proprietary Fund Types Fund Type Totals 4,717,967 Internal Pension (Memorandum Only) Enterprise Service Trust 1993 1992 Operating Revenues 234,872 234,872 228,628 Miscellaneous Taxes 180,787 180,787 166,382 Charges for Services $ 4,444,760 934,736 889.998 5,379,496 4,539,813 Contributions Operating Income (Loss) 160,894 160,894 139,756 Interest (274569) 789,704 789,704 809,346 Miscellaneous 108.911 108.911 83.824 Total Operating Revenues 4553.671 934.736 1.131385 6.619.792 5,739,121 Operating Expenses Administration 479,911 713,744 1,193,655 456,922 Operations 4y41,713 176,254 4,717,967 4,859,690 Depreciation 384 ,055 384,055 467,431 Benefits and Refunds 234,872 234,872 228,628 Miscellaneous - 2,530 2,530 1,019 Total Operating Expenses 5.405.679 889.998 237 402 6533 079 6,013,690 Operating Income (Loss) (952,008) 44,738 893,983 86,713 (274569) Nonoperating Revenues Interest Income 259,961 7,088 267,049 285,712 Income from Joint Venture 15,343 15,343 16,589 Property Taxes 726.797 726,797 730.324 1.002.101 7.088 1,009,189 1032 625 Income before Operating Transfers 150.093 51.826 893.983 1.095.902 758,056 Operating Transfers In 100,000 Operating Transfers (Out) (148.730) (148-730) (135100) (148.730) (148,730) (35,100) Net Income 1,363 51,826 893,983 947,172 722,956 Other Changes in Retained Earnings - Unreserved/Fund Balance Depreciation that Reduces Contributed Capital 191,773 191,773 235.552 Net Increase in Retained Earnings- Unreserved/ Fund Balances 193,136 51,826 893,983 1,138,945 958,08 Retained Earnings - Unreserved/ Fund Balances May 1 5.393.727 (53.029) 8.380.701 13 721.399 12,762,80 April 30 5586.863 (1.203) 9.274.684 14.860.344 13.721.393 See accompanying Notes to the Financial Statements. 1 1 1 1 1 1 1 i 1 1 i VILLAGE OF DEERFIELD, ILLINOIS All Proprietary Fund Types Combined Statement of Cash Flows Year Ended April 30, 1993 Cash Flows from Operating Activities Operating Income (Loss) Adjustments to Reconcile Operating Income (Lass) to Net Cash Provided by Operating Activities Depreciation Other Nonoperating Revenues Changes in Assets and Liabilities Receivables Due from Other Funds Inventories Accounts Payable Accrued Payroll Compensated Absences Payable Claims Payable Due to Other Funds Cash Flows from Noncapital Financing Activities Operating Transfers In Operating Transfers (Out) Cash Flows from Capital and Related Financing Activities Faced Assets Purchased Cash Flows from Investing Activities Purchase of Investment Securities Proceeds from Sale and Maturities of Investment Securities Interest on Investments Net Increase (Decrease) in Cash and Cash Equivalents Cash and Cash Equivalents May 1 April 30 Cash and Investments Cash and Cash Equivalents Investments Proorietary Fund Tvoes Totals Internal (Memorandum Only) Enterprise Service 1993 1992 (852,008) 44,738 (807,27'0) (1,160,406) 384,055 384,055 467,431 724797 726,797 730,324 191895 431 20,326 (5,726) (1,161) (1,161) 17,618 (334) 847 513 (1,797) (24,972) 47,227 22= 49,547, ( ) (2�526) (24,934) 5 T 13,128 2,244 15,372 51,312 112,000 112,000 (156.6221 (26.913) (183535) 37,450 86.470 178.048 264,518 191,132 100,000 (148.730) (148.730) (135,000) (148.730) (148.730) (35,000) (21.935) (21935) (16,361) (3,M,945) (193,252) (4,054,097) (4.549,390) 3,682,923 69 ,510 3,752,433 2,450,889 259.961 7.088 267.049 285,712 82.039 (116654) (34,615) (1,812,789) (2,156) 61,394 59,238 (1,673,118) 3413M 3413M 2,014.444 339.170 61394 400564 341.326 339,170 61,394 400,5" 341,326 3.756541 123.742 3.880 283 3578 614 4.095,711 185.136 4.280.847 3.919.940 Noncash Investing, Capital, and Financing Activities The Enterprise Funds recorded an income from joint ventures of $15,343. See accompanying Notes to the Financial Statements. VILLAGE OF DEERFIELD, ILLINOIS Notes to the Financial Statements April 30, 1993 1. Summary of Significant Accounting Policies The financial statements of the Village of Deerfield, Illinois (government), have been prepared in conformity with generally accepted accounting principles (GAAP) as applied to government units. The Governmental Accounting Standards Board (GASB) is the accepted standard - setting body for establishing governmental accounting and financial reporting principles. The more significant of the government's accounting policies are described below. A. Reporting Entity In evaluating how to define the government, for financial reporting purposes, management has considered all potential component units. The decision to include a potential component unit in the reporting entity was made by applying the criteria set forth in GAAP. The basic - -but not the only -- criterion for including a potential component unit within the reporting entity is the governing body's ability to exercise oversight responsibility. The most significant manifestation of this ability is financial interdependency. Other manifestations of the ability to exercise oversight responsibility include, but are not limited to, the selection of governing authority, the designation of management, the ability to significantly influence operations, and accountability for fiscal matters. A second criterion used in evaluating potential component units is the scope of public service. Application of this criterion involves considering whether the activity is conducted within the geographic boundaries of the government and is generally available to its citizens. A third criterion used to evaluate potential component units for inclusion or exclusion from the reporting entity is the existence of special financing relationships, regardless of whether the government is able to exercise oversight responsibilities. Based upon the application of these criteria, the following is a brief review of each potential component unit addressed in defining the government's reporting entity. Included within the Reporting Entity: Police Pension Employees Retirement System The government's police employees participate in the Police Pension Employees Retirement System ( PPERS). PPERS functions for the benefit of these employees and is governed by a five - member pension board. Two members. appointed by the government's Mayor, one elected pension beneficiary, and two elected police employees constitute the pension board. The government and PPERS participants are obligated to fund all PPERS costs based upon actuarial valuations. The state of Illinois is .authorized to establish benefit levels and the government is authorized to approve the actuarial assumptions used in the determination of contribution levels. 7 VILLAGE OF DEERFIELD, ILLINOIS Notes to the Financial Statements April 30, 1993 1. Summary of Significant Accounting Policies (Cont.) A. Reporting Entity (Cont.) Excluded from the Reporting Entity: West Deerfield Township Highland Park Mosquito Abatement District Deerfield Park District Deerfield Bannockburn Fire Protection District These potential component units have separate elected boards and provide services to residents, generally within the geographic boundaries of the government. These potential component units are excluded from the reporting entity because the government does not have the ability to exercise influence over their daily operations, approve budgets or provide funding. Municipal Insurance Cooperative Agency (MICA) MICA is an agency established to administer general liability insurance programs for local governments. Management consists of a Board of Directors comprised of an appointed representative from each member. The government does not exercise any control over the activities of the Agency beyond its representation on the Board of Directors. MICA is reported as a governmental joint venture. High -Level Excess Liability Pool (HELP) HELP is a proprietary venture established for the purpose of seeking the prevention or lessening of liability claims made against its member municipalities-. Management consists of a Board of Directors comprised of one appointed representative from each member. The government does not exercise any control over the activities of the Agency beyond its representation on the Board of Directors. HELP is reported as a proprietary joint venture. Solid Waste Agency of Lake County ( SWALCO) SWALCO is a municipal corporation empowered to plan, finance, construct and operate a solid waste disposal system to serve its member municipalities. Management consists of a Board of Directors comprised of one appointed representative from, each member. The government does not exercise any control over the activities of the Agency beyond its representation on the Board of Directors. SWALCO is reported as a proprietary joint venture. 8 VILLAGE OF DEERFIELD, ILLINOIS Notes to the Financial Statements April 30, 1993 1. Summary of Significant Accounting Policies (Cont.) B. Fund Accounting The government uses funds and account groups to report on its financial position and the results of its operations. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain governmental functions or activities. A fund is a separate accounting entity with a self - balancing set of accounts. An account group, on the other hand, is a financial reporting device designed to provide accountability for certain assets and liabilities that are not recorded in the funds because they do not directly affect net expendable available financial resources. Funds are classified into the following categories: governmental, proprietary, and fiduciary. Each category, in turn, is divided into separate "fund types ". Governmental funds are used to account for all or most of a government's general activities, including the collection and disbursement of earmarked monies (special revenue funds), the acquisition or construction of general fixed assets (capital projects funds), and the servicing of general long -term debt (debt service funds). The general fund is used to account for all activities of the general government not accounted for in some other fund. Proprietary funds are used to account for activities similar to those found in the private sector, where the determination of net income is necessary or useful to sound financial administration. Goods or services from such activities can be provided either to outside parties (enterprise funds) or to other departments or agencies primarily within the government (internal service funds). Fiduciary funds are used to account for assets held on behalf of outside parties, including other governments, or on behalf of other funds within the government. When these assets are held under the terms of a formal trust agreement, either a pension trust fund, or an expendable trust fund is used. The term "expendable" refers to whether or not the government is under an obligation to maintain the trust principal. Agency funds generally are used to account for assets that the government holds on behalf of others as their agent. C. Basis of Accounting The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. All governmental funds and expendable trust funds are accounted for using a current financial resources measurement focus. With this measurement focus, only current assets and current liabilities generally are included on the balance sheet. Operating statements of these funds present increases (i.e., revenues and other financing sources) and decreases (i.e., expenditures and other financing uses) in net current assets. 9 r� 1 1 1 1 I 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS Notes to the Financial Statements April 30, 1993 1. Summary of Significant Accounting Policies (Cont.) C. Basis of Accounting (Cont.) All proprietary funds and pension trust funds are accounted for on a flow of economic resources measurement focus. With this measurement focus, all assets and all liabilities associated with the operation of these funds are included on -the balance sheet. Fund equity (i.e., net total assets) in proprietary funds is segregated into contributed capital and retained earnings components. Proprietary fund -type operating statements present increases (e.g., revenues) and decreases (e.g., expenses) in net total assets. The modified accrual basis of accounting is used by all governmental fund types, expendable trust funds, and agency funds. Under the modified accrual basis of accounting, revenues are recognized when susceptible to. accrual (i.e., when they become both measurable and available). "Measurable" means the amount of the transaction can be determined and "available" means collectible within the current period. The government recognizes property taxes when they become both measurable and available in accordance with GASB Codification Section P70. A one -year availability period is used for revenue recognition for all other governmental fund revenues. Expenditures are recorded when the related fund liability is incurred. Principal and interest on general long -term debt are recorded as fund liabilities when due or when amounts have been accumulated in the debt service fund for payments to be made early in the following year. Those revenues susceptible to accrual are property taxes, licenses, interest revenue, and charges for services. Sales, income, and motor fuel taxes collected and held by the state at year end on behalf of the government also are recognized as revenue. Fines and permits revenues are not susceptible to accrual because generally they are not measurable until received in cash. The accrual basis of accounting is utilized by proprietary fund types and pension trust funds. Under this method, revenues are recorded when earned and expenses are recorded at the time liabilities are incurred. The government reports deferred revenue on its combined balance sheet. Deferred revenues arise when a potential revenue does not meet both the "measurable" and "available" criteria for recognition in the current period. Deferred revenues also arise when resources are received by the government before,it has a legal claim to them, as when grant monies are received prior to the incurrence of qualifying expenditures. In subsequent periods, when both revenue recognition criteria are met, or when the government has a legal claim to the resources, the liability for deferred revenue is removed from the combined balance sheet and revenue is recognized. 10 VILLAGE OF DEERFIELD, ILLINOIS Notes to the Financial Statements April 30, 1993 Summary of Significant Accounting Policies (Cont.) D. Budgets Budgets are adopted on a basis consistent with generally accepted accounting principles. Annual appropriated budgets are adopted for all of the General, Special Revenue, Debt Service (the 1993 Bond Proceeds Fund was budgeted for zero activity), Enterprise, Internal Service (the Insurance Fund was budgeted for zero activity), and Pension Trust Funds. All annual appropriations lapse at fiscal year end. Encumbrances represent commitments related'to unperformed contracts for goods or services. Encumbrance accounting - -under which purchase orders, contracts and other commitments for the expenditure of resources are recorded to reserve that portion of the applicable appropriation - -is utilized in the governmental funds. Material encumbrances outstanding at year end, if any, are reported as reservations of fund balances and do not constitute expenditures or liabilities because the commitments will be honored during the subsequent year. E. Cash and Investments Cash and Cash Equivalents For. purposes of the statement of cash flows, the government's proprietary fund types consider all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Investments Investments are stated at cost or amortized cost, subject to adjustment for market declines judged to be other than temporary (lower of cost or market), except for investments in the deferred compensation agency fund and insurance company separate accounts in the pension trust fund which are reported at market value. F. Short -term Interfund Receivables / Payables During the course of operations, numerous transactions occur between individual funds for goods provided or services rendered. These receivables and payables are classified as "due from other funds" or "due to other funds" on the balance sheet. Short -term interfund loans, if any, are classified as "interfund receivables /payables ". G. Advances to Other Funds Noncurrent portions of long -term interfund loan receivables are reported as advances and are offset equally by a fund balance reserve account which indicates that they do not constitute expendable available financial resources and therefore are not available for appropriation. 11 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS Notes to the Financial Statements April 30, 1993 1. Summary of Significant Accounting Policies (Cont.) H. Inventories Inventories are valued at cost, which approximates market, using the first -in /first -out (FIFO) method. The costs of governmental fund -type inventories are recorded as expenditures when consumed rather than when purchased. I. Fixed Assets General fixed assets are not capitalized in the funds used to acquire or construct them. Instead, capital acquisition and construction are reflected as expenditures in governmental funds, and the related assets are reported in the general fixed assets account group. All purchased fixed assets are valued at cost where historical records are available and at an estimated historical cost where no historical records exist. Donated fixed assets are valued at their estimated fair market value on the date received. The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend asset lives are not capitalized. Improvements are capitalized and depreciated over the remaining useful lives of the related fixed assets, as applicable. Depreciation on fixed assets acquired through intergovernmental grants, entitlements, or shared revenues externally restricted to capital acquisitions is closed to contributed L capital. Public domain ( "infrastructure ") general fixed assets consisting of roads, bridges, curbs and gutters, streets and sidewalks, drainage systems and lighting systems are not capitalized, as these assets are immovable and of value only to- the government. 1 I i Assets in the general fixed assets account group are not depreciated. Depreciation of buildings, equipment, water /sewer systems, and vehicles in the proprietary fund types is computed using the straight -line method. J. Compensated Absences Vested or accumulated vacation leave that is expected to be liquidated with expendable available financial resources is reported as an expenditure and a fund liability of the governmental fund that will pay it. Vested or accumulated vacation leave of proprietary funds is recorded as an expense and liability of those funds as the benefits accrue to employees. 12 VILLAGE OF DEERFIELD, ILLINOIS Notes to the Financial Statements April 30, 1993 1. Summary of Significant Accounting Policies (Coat.) K. Long -Term Obligations Long -term debt is recognized as a liability of a governmental fund when due, or when resources have been accumulated in the debt service fund for payment early in the following year. For other long -term obligations, only that portion expected to be financed from expendable available financial resources is reported as a fund liability of a governmental fund. The remaining portion of such obligations is reported in the general long -term debt account group. Long -term liabilities expected to be financed from proprietary fund operations are accounted for in those funds. L. Fund Equity Contributed capital is recorded in proprietary funds that have received capital grants or contributions from developers, customers, or other funds. Reserves represent those portions of fund equity not appropriable for expenditure or legally segregated for a specific future use. Designated fund balances represent tentative plans for future use of financial resources. M. Interfund Transactions Quasi - external transactions are accounted for as revenues, expenditures, or expenses. Transactions that constitute reimbursements to a fund for expenditures /expenses initially made from it that are properly applicable to another fund, are recorded as expenditures /expenses in the reimbursing fund and as reductions of expenditures /expenses in the fund that is reimbursed. All other interfund transactions, except quasi - external transactions and reimbursements, are reported as transfers. Nonrecurring or nonroutine permanent transfers of equity are reported as residual. equity transfers. All other interfund transfers are reported as operating transfers. N. Memorandum Only - Total Columns Total columns on the general purpose financial statements are captioned "memorandum only" to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position or results of operations in conformity with generally accepted accounting principles. Neither are such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data. 13 t 1 1 I VILLAGE OF DEERFIELD, ILLINOIS Notes to the Financial Statements April 30, 1993 1. Summary of Significant Accounting Policies (Cont.) O. Comparative Data Comparative total data for the prior year have been presented in the accompanying financial statements in order to provide an understanding of changes in the government's financial position, operations, and cash flows. However, comparative data have not been presented in all statements because their inclusion would make certain statements unduly complex and difficult to understand. 2. Legal Compliance and Accountability A. Budgets All departments of the government submit requests for appropriation to the government's manager so that a budget may be prepared. The budget is prepared by fund, function, and activity, and includes information on the past year, current year estimates, and requested appropriations for the next fiscal year. The proposed budget is presented to the governing body for review. The governing body holds public hearings and may add to, subtract from, or change appropriations, but may not change the form of the budget. Any amendments to the budget must be approved by the governing body. Expenditures may not legally exceed budgeted appropriations at the fund level. During the year no supplementary appropriations were necessary. B. Deficit Fund Balances /Retained Earnings of Individual Funds The following funds had a deficit in fund balance /retained earnings as of the date of this report: Deficit Fund Balance Emergency Services /Disaster Illinois Municipal Retirement Tax Incremental Finance District 2 Garage 1 14 $ (1- 1,543) (203,182) (1,416,073) (27,420) VILLAGE OF DEERFIELD, ILLINOIS Notes to the Financial Statements April 30, 1993 ■ 2. Legal Compliance and Accountability (Cont.) , C. Excess of Actual Expenditures /Expenses over Budget in Individual Funds The following funds had an excess of actual expenditures /expenses (exclusive of depreciation and amortization) over budget for the fiscal year: Fund Excess Debt Service $255,668 Commuter Parking Lot 272 3. Deposits and Investments The government maintains a cash and investment pool that is available for use by all funds, except the pension trust funds. Each fund type's portion of this pool is displayed on the combined balance sheet as "cash and investments% In addition, investments are separately held by several of the government's funds. The deposits and investments of the pension trust funds are held separately from those of other funds. Cash on hand of $2,580 has been excluded from the amounts shown below. Permitted Deposits and Investments - Statutes authorize the government to make deposits /invest in insured commercial banks, savings and loan institutions, obligations of the U. S. Treasury and U. S. Agencies, insured credit union shares,.money market mutual funds with portfolios of securities issued or guaranteed by the United States or agreements to repurchase these same obligations, repurchase agreements, short term commercial paper rated within the three highest classifications by at least two standard rating services, and the Illinois Public Treasurer's Investment Pool. Pension funds may also invest in certain non - U.S. obligations, Illinois municipal corporations tax anticipation warrants, veteran's loans, obligations of the State of Illinois and its political subdivisions, and Illinois insurance company general and separate accounts. 15 1 i a 1 �r i 1 1 1 1 L�, 1 1 VILLAGE OF DEERFIELD, ILLINOIS Notes to the Financial Statements April 30, 1993 3. Deposits and Investments (Cont.) A. Deposits At year -end the carrying amount of the government's deposits totaled $285,968, and the bank balances totaled $672,703. Bank Balances Category 1 Deposits covered by federal depository insurance, or by collateral held by the government, or its agent, in the government's name. $672,703 Category 2 Deposits covered by collateral held by the pledging financial institution's trust department, or by its agent, in the government's name. - Category 3 Deposits covered by collateral held by the pledging financial institution, or its trust department, or its agent but not in the government's name, and deposits which are uninsured and uncollateralized. Total Deposits - 672,70 B. Investments The government's investments are categorized to give an indication of the level of risk assumed by the entity at year -end. Category 1 includes investments that are insured or registered or for which the securities are held by the government or its agent in the government's name. Category 2 includes uninsured and unregistered investments for which the securities are held by the counterparty's trust department or agent in the government's name. Category 3 includes uninsured and unregistered investments for which the securities are held by the counterparty, or by its trust department or agent but not in the government's name, and uninsured, unregistered and uncollateralized investments. 16 VILLAGE OF DEERFIELD, ILLINOIS Notes to the Financial Statements April 30, 1993 3. Deposits and Investments (Cont.) B. Investments (Cont.) Carrying Amount Category Market 1 2 3 Totals Value U. S. Government Securities $22,632,349 22,632,349 25,09S,363 GNMA 914,288 914,288 1,015,725 Municipal Bonds 465,567 465,567 468,426 Dade County Florida Aviation Reserve - . Bonds 10.000.000 10.000.000 10.668.800 34,012,204 37,238,314 ' Deferred Compensation Plan Assets 1,615,930 1,615,930 • Illinois Public Treasurer's Investment Pool 4,123,748 4,123,748 • Insurance Contracts and Separate Accounts 932,732 932.732 Total Investments 4040 6 4343 9708 ' (Not Subject to Risk Categorization) The pension trust fund owns approximately 24 percent of the investments in Category 1. 4. Receivables - Taxes Property taxes for 1992 attach as an enforceable lien on January 1, 1992, on property values assessed as of the same date. Taxes are levied by December of the subsequent fiscal year (by passage of a Tax Levy Ordinance). Tax bills are prepared by the County and issued on or about April 30, 1993, and are payable in two installments, on or about June 1, 1993, and September 1, 1993. The County collects such taxes and remits them periodically. 17 VILLAGE OF DEERFIELD, ILLINOIS Notes to the Financial Statements April 30, 1993 5. Fixed Assets A. General Fixed Assets Account Group The following is a summary of changes in the general fixed assets account group during the fiscal year: B. Proprietary Fixed Assets The following is a summary of proprietary fund -type fixed assets as of the date of this report: Enterprise Funds Land $ 77,500 Water /Sewer System 13,670,057 Equipment and Vehicles 786,711 Parking Lot Improvements 619,808 15,154,076 Less Accumulated Depreciation 7.207.785 7.9 1 1 In proprietary funds, the following estimated useful lives are used to- compute depreciation: Buildings 40 -50 years Equipment 10 -20 years Vehicles 4 -5 years Water /Sewer System 50 -60 years Parking Lot Improvements 20 years 1 1 18 Balances Balances May 1 Additions Retirements April 30 Land $ 3,381,444 140,887 3,522,331 Building and Improvements 4,873,494 4,873,494 Vehicles 846,639 193,830 197,722 842,747 Equipment 1.756.525 60.433 2.929 1.814.029 10.858.102 395,150 200,651 11.052,601 B. Proprietary Fixed Assets The following is a summary of proprietary fund -type fixed assets as of the date of this report: Enterprise Funds Land $ 77,500 Water /Sewer System 13,670,057 Equipment and Vehicles 786,711 Parking Lot Improvements 619,808 15,154,076 Less Accumulated Depreciation 7.207.785 7.9 1 1 In proprietary funds, the following estimated useful lives are used to- compute depreciation: Buildings 40 -50 years Equipment 10 -20 years Vehicles 4 -5 years Water /Sewer System 50 -60 years Parking Lot Improvements 20 years 1 1 18 VILLAGE OF DEERFIELD, ILLINOIS Notes to the Financial Statements April 30, 1993 6. Risk Management A. The government has established a Self - Insurance Fund (an internal service fund). The government is self- insured for medical coverage. Each participating fund makes payments to the Self- Insurance Fund. Such payments are displayed on the financial statements as revenues and expenditures /expenses (quasi - external transfers). B. Municipal Insurance Cooperative Agency (MICA) The government participates in the Municipal Insurance Cooperative Agency. MICA is a governmental joint venture whose members are Illinois municipalities. MICA manages and funds first party property losses, third party liability claims, workers' compensation claims, and public officials liability claims of its members. The government's payments to MICA are displayed on the financial statements as expenditures /expenses in appropriate funds. C. High -Level Excess Liability Pool (HELP) The government participates in the High -Level Excess Liability Pool (HELP). HELP is a joint venture established by certain municipalities in Illinois to provide excess liability coverage ($5,000,000 of coverage after a $1,000,000 self- insurance retention). The government's payments to HELP are displayed on the financial statements as expenditures /expenses in appropriate funds. 7. Lease Obligations No material capital or operating leases were in effect as of the date of this report. Long -Term Debt A. General Obligation Bonds The government issues general obligation bonds to provide funds for the acquisition and construction of major capital facilities. 19 VILLAGE OF DEERFIELD, ILLINOIS Notes to the Financial Statements April 30, 1993 8. Long -Term Debt (Cont.) A. General Obligation Bonds (Cont.) General obligation bonds are direct obligations and pledge the full faith and credit of the government. General obligation bonds currently outstanding are as follows: Fund Debt Balances Balances Issue Retired by May 1 Issuances Retirements Aoril 30 Sewerage Improvement Bond Series of 1973 ($1,080,000 dated June 1, 1973; ma- turing December 1, 1992; payable in annual installments; interest rates from Debt 4.4% to 5.1%) Service $ 50,000 50,000 - Sewer Treatment Facility Bond Series of 1973; ($2,000,000 dated June 1, 1973; maturing December 1, 1992; payable in annual installments; interest rates from Debt 4.4% to 6.0%) Service 150,000 150,000 - Corporate Purpose Bond Series of 1982; ($500,000 dated Oc- tober 1, 1982; matur- ing December 1, 1994; payable in annual in- stallments; interest rates from 4.4% to **Debt 6.0%) Service 225,000 75,000 150,000 Corporate Purpose Bond Series of 1982 -A; ($500,000 dated Dec- ember 1, 1982; matur- ing December 1, 1993; payable in annual in- stallments; interest rates from 7.0% to Debt 8.5 %) Service 100,000 50,000 50,000 E VILLAGE OF DEERFIELD, ILLINOIS Notes to the Financial Statements April 30, 1993 8. Long -Term Debt (Cont.) A. General Obligation Bonds (Cont.) Fund Debt Balances Balances Issue Retired by May 1 Issuances Retirements Anril 30 Corporate Purpose Bond Series of 1986; ($11,000,000 dated May 1, 1986; maturing January 1, 2005; payable in annual installments; interest rates from 6.40% Debt to 7.75 %) Service $ 9,44S,000 48S,000 8,960,000 Corporate Purpose Bond Series of 1987; ($10,000,000 dated October 8, 1987; ma- turing October 8, 2002; interest rate from 8.4% to 8.5 %) General Obligation Bond Series of 1988; - ($3,000,000 dated No- vember 1, 1988; maturing January 1, 2004; payable in annual installments; interest rates from 6.7% to 8.0 %) General Obligation Bond Series of 1991; ($1,500,000 dated July 1, 1991; maturing January 1, 1997; payable in annual installments; interest rates from 5.2% to 5.8 %) 'Expendable Trust 10,000,000 Debt Service "Debt Service 2,625,000 150,000 10,000,000 2,475,000 1.500.000 300.000 1.200.000 24.095.000 1.260.000 22.835.000 • These bonds were issued in Fiscal 1988 with the proceeds used to purchase $10,000,000 of Dade County Florida. Aviation Revenue Bonds. These bonds are carried as an investment in the Expendable Trust Fund' with the interest on these bonds paying the interest on the G.O. bonds. " The government abates the tax levy on these bond issues annually. The debt is being retired for the Corporate Purpose Bond Series of 1982 by transfers from the Tax Incremental Finance District 1 Fund and retired for the General Obligation Bond Series of 1991 by transfers from the Tax Incremental Finance District 2 Fund. 21 t 1 1 t 1 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS Notes to the Financial Statements April 30, 1993 8. Long -Term Debt (Cont.) B. Debt Service Requirements to Maturity Annual debt service requirements to maturity are as follows: General Obligation Bonds Fiscal Year General Ending Expendable Long -Term April 30 Trust Debt Totals 1994 $ 843,000 1,953,975 2,796,975 1995 843,000 1,879,562 2,722,562 1996 843,000 1,765,493 2,608,493 1997 843,000 1,764,897 2,607,897 1998 843,000 1,433,997 2,276,997 1999 843,000 1,442,037 2,285,037 2000 843,000 1,429,951 2,272,951 2001 843,000 1,438,651 2,281,651 2002 7,549,000 1,446,201 8,995,201 2003 3,127,500 1,454,513 4,582,013 2004 1,432,050 1,432,050 2005 1,115538 1,115,538 Total Principal and Interest 17,420,500 18,556,865 35,977,365 Interest Portion 7,420,500 5,721,865 13,142,365 F51 VILLAGE OF DEERFIELD, ILLINOIS Notes to the Financial Statements April 30, 1993 8. Long -Term Debt (Cont.) C. Changes in Long -Term Liabilities During the fiscal year the following changes occurred in liabilities reported in the general long -term debt account group: Balances Balances May 1 Additions Reductions April 30 Sewerage Improvement Bond Series of 1973 $ 50,000 50,000 - Sewerage Treatment Facility Bond Series of 1973 150,000 150,000 - Corporate Purpose Bond Series of 1982 225,000 75,000 150,000 Corporate Purpose Bond Series of 1982 -A 100,000 '50,000 50,000 Corporate Purpose Bond Series of 1986 9,445,000 485,000 8,960,000 Corporate Purpose Bond Series of 1988 2,625,000 150,000 2,475,000 General Obligation Bond Series of 1991 1,500.000 300.000 1,200,000 14,095,000 1.260.000 12.835, 000 D. Legal Debt Margin The government is a home rule municipality. Chapter 65, Section 5/8 -5 -1 of the Illinois Compiled Statutes governs computation of the legal debt margin. "The General Assembly may limit by law the amount and require referendum approval of debt to be incurred by home rule municipalities, payable from ad valorem property tax receipts, only in excess of the following percentages of the assessed value of its taxable property ...(2) if its population is more than 25,000 and less than 500,000 an aggregate of one percent: ...indebtedness which is outstanding on the effective date (July 1, 1971) of this constitution or which is thereafter approved by referendum... shall not be included in the foregoing percentage amounts." To date the General Assembly has set no limits for home rule municipalities. 1 ' VILLAGE OF DEERFIELD, ILLINOIS Notes to the Financial Statements April 30, 1993 1 8. Long -Term Debt (Cont.) E. Noncommitment Debt Industrial Development Revenue Bonds The government qualifies as a Home Rule Unit under Section 6(a) of Article VII of the 1970 Constitution of Illinois and, under the powers granted by this section, can exercise any power and perform any function pertaining to its government and affairs which is not prohibited by the Illinois Compiled Statutes. The issuance of Industrial Development Revenue Bonds by the government is to finance in whole or in part the cost of the acquisition, purchase, construction, reconstruction, improvement, equipping, betterment or extension of any economic development project in order to encourage economic development within or near the government. Industrial Development Revenue Bonds are not a debt of the government. The entity using the bond proceeds to finance a construction or improvement project is liable for the bonds. Since the government does not act as an agent for Industrial Development Revenue Bonds, the transactions relating to the bonds and property do not appear in the government's financial statements. ' The government has authorized the issuance of the following such bonds: ' Date Issued Type of Bond Amount Debtor 12/20/82 Industrial Revenue $1,615,000 Chi -Chi's Inc. 4/16/84 Industrial Revenue 1,000,000 Teradyne, Inc. 12/17/84 Industrial Revenue 4,500,000 Industrialplex Limited Partnership 1 1 l! 11 1 '" VILLAGE OF DEERFIELD, ILLINOIS Notes to the Financial Statements April 30, 1993 9. Interfund Assets /Liabilities A. Due From /To Other Funds General Emergency Services /Disaster $ 10,808 General Illinois Municipal Retirement 79,551 General Tax Increment Finance District #2 99,720 General Refuse 10,007 General Garage 49,713 General Deposit 6,332 General Deerfield Cemetery Association 5,275 Library Street and Bridge 3,771 Library Debt Service 908 Library Police Pension 280 Tax Increment Finance District #2 Capital Projects Series 1991 16,517 Refuse Municipal Audit 754 Refuse Emergency Services /Disaster 23 Refuse Street and Bridge 274 Refuse Illinois Municipal Retirement 111 2 r 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS Notes to the Financial Statements April 30, 1993 9. 10. Interfund Assets /Liabilities (Cont.) B. Advances From /To Other Funds Receivable Fund Payable Fund Amount General Commitments High -Level Excess liability Pool (HELP) Tax Increment Finance District #2 1 320 000 The government has committed to purchase excess liability insurance from the High -Level Excess Liability Pool (Agency), a joint venture of Illinois municipalities. The government expects to pay the following minimum amounts (these amounts represent the government's share of the principal and interest - "fixed costs" - of the Agency): Fiscal Year Ending April 30 Amount 1994 $25,094 1995 25,744 1996 26,258 1997 25,731 1998 26,024 These amounts have been calculated using the government's current allocation percentage of 3.61 %. In future years this allocation percentage will be subject to change, because the Agency's Agreement provides that each year Members will be assessed based upon a formula which specifies the following four criteria for allocating premium costs: Miles of Streets Full -Time Equivalent Employees Number of Motor Vehicles Operating Revenues 1 26 VILLAGE OF DEERFIELD, ILLINOIS Notes to the Financial Statements April 30, 1993 11. Segment Information - Enterprise Funds The government maintains the following enterprise funds which are intended to be self - supporting through user fees charged for services to the public. Financial segment information as of the date of this report and for the fiscal year is.as follows: 27 Commuter Fund Water Seweraze Refuse Parkin¢ Lot Totals Operating Revenues $2,382,587 1,260,972 754,535 155,577 4,553,671 Depreciation, and Amortization Expense 90,505 262,706 - 30,844 384,055 Operating Income (Loss) 43,303 (271,647) (705,895) 82,231 (852,008) Operating Grants, Entitle- ments, and Sbared Revenues - - - - - Operating Transfers In - - - - - Operating Transfers (Out) (33,750) (32,980) (12,000) (70,000) (148,730) Tax Revenues - - 726,797 - 726,797 Net Income (Loss) 141,542 (202,750) 16,936 45,635 1,363 Current Capital Contributions - - - - - Current Capital Transfers - - - - - Plant, Property, and Equipment Additions 16,085 - - 5,850 21,935 Deletions - - - - - Total Assets 5,025,044 7,235,134 797,737 747,601 13,805,516 Net Working Capital 2,627,574 1,574,770 682,991 475,930 5,361,265 Bonds and Other Long -Term Liabilities Payable from Operating Revenues - - - - - Payable from Other Sources - - - - Total Equity 4,840,298 7,038,764 682,991 745,503 13,307,556 27 1 VILLAGE OF DEERFIELD, ILLINOIS Notes to the Financial Statements April 30, 1993 12. Contributed Capital During the year contributed capital increased /decreased by the following amounts: Commuter Water Sewerage Parking Lot Totals Increases - - - - Decreases Depreciation $ 40.357 135,951 15.465 191.773 Net (Decrease) (40,357) (135,951) (15,465) (191,773) Contributed Capital May 1 1,780,830 5.860.504 271.132 7,912.466 ' April 30 1.740.473 5.724.553 255.667 7.720.693 13. Fund Equity 1 Tax Incremental Finance District 1 Fund - Surplus Rebate On December 21, 1992, the government passed Resolution No. 92 -13 titled "Resolution Declaring a Surplus of Tax Increment Financing Funds" in accordance with the Illinois Compiled Statutes. The government determined that the sum of $5,463,435 held in Tax Incremental Finance District 1 Fund was surplus funds and should be redistributed to the appropriate taxing districts in fiscal 1993. On December 17, 1991, the government passed Resolution No. 91 -11 titled "Resolution ' Declaring a Surplus of Tax Increment Financing Funds" in accordance with the Illinois Compiled Statutes. The government determined that the sum of $6,632,468 held in the Tax Incremental Finance District 1 Fund was surplus funds and should be redistributed to the ' appropriate taxing districts in fiscal 1992. 14. Contingent Liabilities ' A. Litigation The government is a defendant in various lawsuits. Although the outcome of these ' lawsuits is not presently determinable, in the opinion of the government's attorney the resolution of these matters will not have a material adverse effect on the financial condition of the government. 1 1 VILLAGE OF DEERFIELD, ILLINOIS Notes to the Financial Statements April 30, 1993 14. Contingent Liabilities (Cont.) B. Grants Amounts received or receivable from grantor agencies are subject to audit and adjustment by grantor agencies, principally the federal government. Any disallowed claims, including amounts already collected, may constitute a liability of the applicable funds. The amount, if any, of expenditures which may be disallowed by the grantor cannot be determined at this time although the government expects such amounts, if any, to be immaterial. C. High -Level Excess Liability Pool (HELP) The government's agreement with the High -Level Excess Liability Pool provides that each member is liable for its proportionate share of any costs arising from defaults in payment obligations by other members. 15. Joint Ventures A. Municipal Insurance Cooperative Association (MICA) Description of Joint Venture The Municipal Insurance Cooperative Association (MICA) is a governmental joint venture established by certain units of local government in Illinois to administer some or all of their general liability insurance programs. Management consists of a Board of Directors comprised of one appointed representative from each member. In addition, there are three officers, a Benefit Administrator and a Treasurer. The government does not exercise any control over activities of MICA beyond its representation on the Board of Directors. MICA functions solely as an administrative agent for each member. Summary Financial Information of Joint Venture Summary of Financial Position as of April 30, 1992: . . Total Assets 3 672 372 Total Liabilities 2,925,737 Total Equity 746.635 Total Liabilities and Equity 3.672.372 29 VILLAGE OF DEERFIELD, ILLINOIS Notes to the Financial Statements April 30, 1993 15. Joint Ventures (Cont.) A. Municipal Insurance Cooperative Association (MICA) (Cont.) Summary Financial Information of Joint Venture (Cont.) Summary of Revenues, Expenditures, and Changes in Agency Equity for the year ended April 30, 1992: Revenues $3,296,800 Expenditures 4.080.814 Excess (Deficiency) of Revenues over Expenditures (784,014) Agency Equity May 1 1.530.649 April 30 746 63 B. High -Level Excess Liability Pool (HELP) Description of Joint Venture The High -Level Excess Liability Pool (the "Agency ") is a proprietary joint venture and was organized on April 1, 1987. The purpose of the Agency is to act as a joint self - insurance pool for the purpose of seeking the prevention or lessening of liability claims for injuries to persons or property or claims for errors and omissions made against the Members and other parties included within the scope of coverage 'of the Agency. At the date of this report, the following municipalities were members of the Agency: Share Share Village of Arlington Heights 11.96% Village of Mt. Prospect 7.61% Village of Chicago Ridge 2.38 Village of Oak Lawn 9.79 Village of Deerfield 3.61 City of Park Ridge 5.70 City of Des Plaines 10.74 Village of Skokie 10.18 Village of Elk Grove Village 7.87 Village of Streamwood 4.33 Village of Glenview 5.73 City of Wheaton 7.27 Village of Hoffman Estates 7.03 Village of Winnetka 4.39 Village of Lincolnshire 1.41 30 VILLAGE OF DEERFIELD, ILLINOIS Notes to the Financial Statements April 30, 1993 15. Joint Ventures (Cont.) B. High -Level Excess Liability Pool (HELP) (Cont.) Description of Joint Venture (Cont.) These percentage shares are subject to change in future years based upon a formula specified in the Agency Agreement. The Agency is governed by a Board of Directors which consists of one appointed representative from each member municipality. Each Director has an equal vote. The officers of the Agency are appointed by the Board of Directors. The Board of Directors determines the general policy of the Agency, makes all appropriations, approves contracts, adopts resolutions providing for the issuance of debt by the Agency, adopts by -laws, rules and regulations, and exercises such powers and performs such duties as may be prescribed in the Agency Agreement or the by -laws. The government does not exercise any control over the activities of the Agency beyond its representation on the Board of Directors. Summary Financial Information of Joint Venture Summary of Financial Position as of April 30, 1993: Assets Liabilities and Fund Equity Current Assets Current Liabilities Cash and Investments . Accounts Payable 13,181 Unrestricted $ 2,397,966 Due to Village of Escrow Agreement 7.469.837 Elk Grove Village 500,000 9.867.803 Accrued Interest Payable 81,302 Receivables Deferred Revenues 516.867 Accounts 230,672 1,111,350 Accrued Interest 2.067 Long -Term Liabilities 232.739 Due to Village of Elk Grove Village 2.450.000 Total Liabilities 3,561,350 Fund Equity Retained Earnings 6.539.192 Total Liabilities Total Assets 1010 100 542542 and Fund Equity 10 100 42 31 VILLAGE OF DEERFIELD, ILLINOIS Notes to the Financial Statements April 30, 1993 15. Joint Ventures (Cont.) B. High -Level Excess Liability Pool (HELP) (Cont.) Summary Financial Information of Joint Venture (Cont.) Summary of Revenues, Expenses, and Changes in Retained Earnings for the year ended April 30, 1993: Operating Revenues S 965,000 Operating Expenses 59.553 Operating Income 905,447 Nonoperating Revenues (Expenses) Interest Income 416,324 Interest Expense (211442) 203.882 Net Income 1,109,329 Retained Earnings May 1 5.429.863 April 30 6.5 Government's Share of Assets, Liabilities, Fund Equity and Changes for the year ended April 30, 1993: Balances Increases Balances May 1 (Decreases) April 30 Total Assets $343.265 21.365 364.630 Total Liabilities 147,790 (19,225) 128,565 Fund Equity Retained Earnings 195.475 40.590 236.065 Total Liabilities and Fund Equity 343.265 21.365 364.630 Government's Share of Net Income 40 32 VILLAGE OF DEERFIELD, ILLINOIS Notes to the Financial Statements April 30, 1993 15. Joint Ventures (Cont.) B. High -Level Excess Liability Pool (HELP) (Cont.) Joint Venture Debt - Changes in Long -Term Debt Balances Balances May 1 Issuances Retirements April 30 Due to Village of Elk Grove Village for Retirement of General Obligation Bonds $3.425.000 475.000 2.950.000 Joint Venture Debt - Security for the Debt The Village of Elk Grove Village, Illinois (the initial Host Member) issued $5,000,000 of general obligation bonds in 1987 to provide initial funding for the Agency. The bond proceeds were put into escrow with LaSalle National Bank as escrow agent. An intergovernmental agreement among the Agency, the Village of Elk Grove Village, and the Members provides that the Agency and its Members are obligated to the Village of Elk Grove Village for payment of principal and interest on the bonds until such bonds have been retired. Additionally each Member is liable for its proportionate share of any default by other Members. The obligations of the Agency and its Members are unconditional. C. Solid Waste Agency of Lake County (SWALCO) Description of Joint Venture The government is a member of the Solid Waste Agency of Lake County (the 'Agency ") which consists of thirty -five municipalities. The Agency is a municipal corporation and public body politic and corporate established pursuant to the Constitution Act of the State of Illinois and the Intergovernmental Cooperation Act of the State of Illinois, as amended, (the "Act "). The Agency is empowered under the Act to plan, construct, finance, operate and maintain a solid waste disposal system to serve its members. 33 VILLAGE OF DEERFIELD, ILLINOIS Notes to the Financial Statements April 30, 1993 15. Joint Ventures (Cont.) C. Solid Waste Agency of Lake County (SWALCO) (Cont.) Description of Joint Venture (Coot.) The members of the Agency and their percentage shares based on formulae contained in the Agency agreement as of April 30 are: Share Share Antioch 1.06% Lindenhurst 1.45% Beach Park 1.65 Long Grove 1.42 Deer Park .74 Mundelein 4.12 Deerfield 4.25 North Barrington .66 Grayslake 1.46 North Chicago 3.13 Green Oaks .47 Park City .86 Gurnee 3.11 Riverwoods .94 Hawthorn Woods 1.07 Round Lake .61 Highland Park 8.03 Round Lake Beach 2.55 Kildeer .67 Round Lake Park .64 Lake Barrington 1.16 Third Lake .24 Lake Bluff 1.61 Vernon Hills 3.36 Lake County 19.88 Wadsworth .39 Lake Forest 6.13 Wauconda 1.31 Lake Villa .55 Waukegan 12.15 Lake Zurich 3.21 Winthrop Harbor 1.08 Libertyville 4.38 Zion 3.92 Lincolnshire 1.74 100 These percentage shares are subject to change in future years based on the combination of the population and equalized assessed valuation of the municipalities. The members form a contiguous geographic service area which is located in Lake County. Under the Agency Agreement, additional members may join the Agency upon the approval of each member. The Agency is governed by a Board of Directors which consists of one appointed Mayor or President, Trustee, or Chief Administrative Officer from each member municipality. Each Director has an equal vote. The officers of the Agency are appointed by the Board of Directors. The Board of Directors determines the general policy of the Agency, makes all appropriations, approves contracts, adopts resolutions providing for the issuance of Bonds or Notes by the Agency, adopts by -laws, rules and regulations, and exercises such powers and performs such duties as may be prescribed in the Agency Agreement or the by -laws. 34 VILLAGE OF DEERFIELD, ILLINOIS Notes to the Financial Statements April 30, 1993 15. Joint Ventures (Cont.) C. Solid Waste Agency of Lake County (SWALCO) (Cont.) Summary Financial Information of Joint Venture Summary of Revenues, Expenses, and Changes in Retained Earnings for the period ended April 30, 1991 and the year ended April 30, 1992: 1991 1992 Total Revenues $316,278 5,188 Total Expenses Net Income (Loss) Retained Earnings 122,516 316,278 (117,328) May 1 316.278 April 30 316.278 198.950 Government's Share of Assets, Liabilities, Fund Equity and Changes for the period ended April 30, 1991 and for the year ended April 30, 1992: Balances 1991 1992 Balances February 21, Increases Increases April 30, 1991 (Decreases) (Decreases) 1992 Total Assets $13,442 (4,663) 8.779 Total Liabilities - - 323 323 Fund Equity Retained Earnings Total Liabilities and Fund Equity Government's Share of Net Income (Loss) 35 13.442 (49.86) 8,456 13.442 (4,663) 8,779 1.a � 4 986 1 1 r 1 1 1 1 1 1 1 1 1 1 11 VILLAGE OF DEERFIELD, ILLINOIS Notes to the Financial Statements April 30, 1993 16. Deferred Compensation Plan The government offers its employees a deferred compensation plan created in accordance with Internal Revenue Code Section 457. The plan, available to all government employees, permits them to defer a portion of their salary until future years. Participation in the plan is optional. The deferred compensation is not available to employees until termination, retirement, death or unforeseeable emergency. All amounts of compensation deferred under the plan,- all property and rights purchased with those amounts, and all income attributable to those amounts, property, or rights are (until paid or made available to the employee or other beneficiary) solely the property and rights of the government subject only to the claims of the government's general creditors. Participants' rights under the plan are equal to those of general creditors of the government in an amount equal to the fair market value of the deferred account for each participant. It is the opinion of the government's legal counsel that the government has no liability for losses under the plan but does have the duty of due care that would be required of an ordinary prudent investor. The government believes that it is unlikely that it will use the assets to satisfy the claims of general creditors in the future. 17. Postemployment Benefits In addition to providing pension benefits described, the government provides postretirement health care benefits, in accordance with the personnel policy manual, to all employees who have worked for the Village for a minimum of ten years and receive a pension from the Village in the Illinois Municipal Retirement Fund. Currently 5 retirees meet those eligibility requirements. The government pays 25 percent of the cost of the health insurance premiums for the employees to a maximum of $35. Expenditures for postretirement health care benefits are recognized as insurance premiums are paid. During the year, expenditures of $2,100 were recognized for postretirement benefits. 18. Employee Retirement Systems A. Plan Descriptions and Provisions Illinois Municipal Retirement The government contributes to the Illinois Municipal Retirement Fund ( "IMRF "), a defined benefit agent multiple - employer public employee retirement system that acts as a common investment and administrative agent for local governments and school districts in Illinois. The government's total payroll for the year ended December 31, 1992, was $4,983,306. Of this amount, $3,115,096 in payroll earnings were reported to and covered by the IMRF system. 36 i� VILLAGE OF DEERFIELD, ILLINOIS Notes to the Financial Statements April 30, 1993 18. Employee Retirement Systems (Cont.) A. Plan Descriptions and Provisions (Cont.) Illinois Municipal Retirement (Cont.l All employees hired in positions that meet or exceed the prescribed annual hourly standard must be enrolled in IMRF as participating members. Pension benefits vest after eight years of service. Participating members who retire at or after age 60 with 8 years of service are entitled to an annual retirement benefit, payable monthly for life, in an amount equal to 12/3 percent of their final rate (average of the highest 48 consecutive months' earnings during the last 10 years) of earnings, for each year of credited service up to 15 years, and 2 percent for each year thereafter. IMRF also provides death and disability benefits. These benefit provisions and all other requirements are established by Illinois State Statute. Participating members are required to contribute 4.5 percent of their annual salary to IMRF. The government is required to contribute the remaining amounts necessary to fund the coverage of its own employees in the System, using the actuarial basis specified by state statute (entry age normal); for 1992 the rate was 12.81 percent. Police Pension Police sworn personnel are covered by the Police Pension Plan which is a defined benefit single - employer pension plan. Although this is a single - employer pension plan, the defined benefits and employee and employer contributions levels are governed by Illinois Compiled Statutes (Chapter 40 - Article 5/3) and may be amended only by the Illinois legislature. The government accounts for the plan as a pension trust fund. The government's payroll for employees covered by the Police Pension Plan for the year ended April 30, 1993 was $1,767,665 out of a total payroll of $5,342,438. At April 30, 1993 the Police Pension Plan Membership consisted of: Retirees and Beneficiaries Currently Receiving Benefits and Terminated Employees Entitled to Benefits but not yet Receiving Them 10 Current Employees Vested 24 Nonvested 13 Total 1z The following is a summary of the Police Pension Plan as provided for in Illinois State Statutes. The Police Pension Plan provides retirement benefits as well as death and disability benefits. Employees attaining the age of 50 or more with 20 or more years of creditable service are entitled to receive an annual retirement benefit of one -half of 37 Ll VILLAGE OF DEERFIELD, ILLINOIS ' Notes to the Financial Statements April 30, 1993 ' 18. Employee Retirement Systems (Cont.) A. Plan Descriptions and Provisions (Cont.) Police Pension (Cont.l the salary attached to the rank held on the last day of service, or for one year prior to the last day, whichever is greater. The pension shall be increased by 2% of such salary for each additional year of service over 20 years up to 30 years, and 1% of such salary for each additional year of service over 30 years, to a maximum of 75% of such t salary. Employees with at least 8 years but less than 20 years of credited service may retire at or after age 60 and receive a reduced benefit. The monthly pension of a police officer who retired with 20 or more years of service after January 1, 1977 shall be increased annually, following the first anniversary date of retirement and be paid upon reaching the age of at least 55 years, by 3% of the ' original pension and 3% simple interest annually thereafter. Covered employees are required to contribute 9% of their base salary to the Police Pension Plan. If an employee leaves covered employment with less than 20 years of service, accumulated employee contributions may be refunded without accumulated interest. The government is required to contribute the remaining amounts necessary to finance the plan as actuarially determined by an enrolled actuary. Effective July 1, ' 1993 the government's contributions must accumulate to the point where the past service cost for the Police Pension Plan is fully funded by the year 2033. B. Summary of Significant Accounting Policies and Plan Asset Matters Basis of Accounting The financial statements are prepared using the accrual basis of accounting. Employee and employer contributions are recognized as revenues in the period in which employee services are performed. Method Used to Value Investments Fixed- income securities are reported at amortized cost with discounts or premiums t amortized using the effective interest rate method, subject to adjustment for market declines judged to be other than temporary (lower of cost or market). Investment income is recognized as earned. Gains and losses on sales and exchanges of fixed- ' income securities are recognized on the transaction date. Equity securities represented by insurance company separate accounts are reported at market value. Significant Investments ' There are no investments other than U. S. government and U. S. government- guaranteed g 8 guaranteed obligations) in any one organization that represent five percent or more ' of net assets available for benefits. 1 38 VILLAGE OF DEERFIELD, ILLINOIS Notes to the Financial Statements April 30, 1993 18. Employee Retirement Systems (Cont.) B. Summary of Significant Accounting Policies and Plan Asset Matters (Cont.) Related Party Transactions There are no securities of the employer or any other related parties included in plan assets, including any loans. C. Funding Status and Progress The amount shown below as the "pension benefit obligation" is a standardized disclosure measure of the present value of pension benefits, adjusted for the effects of projected salary increases and step -rate benefits, estimated to be payable in the future as a result of employee service to date. The measure is intended to help users assess the funding status of the system on a going- concern basis, assess progress made in accumulating sufficient assets to pay benefits when due, and make comparisons among employers. The measure is the actuarial present value of credited protected benefits and is independent of the funding method used to determine contributions to the System. Illinois 7.00% Municipal Police Retirement Pension December 31, April 30, Actuarial Valuation Date 1992 1993 Significant Actuarial Assumptions a) Rate of Return on Invest- 7.00% 8.50% ment of Present and compounded compounded Future Assets annually annually b) Projected Salary 3.75% ] 6.00% Increases - Attribut- compounded ] compounded able to Inflation annually ] annually c) Additional Projected ] ) (Note - separate Salary Increases - ] _ information for b) Attributable to ] and c) not available Seniority /Merit 1.00% ] d) Postretirement Benefit 3.00% 3.00% Increases compounded annually 39 1 VILLAGE OF DEERFIELD, ILLINOIS Notes to the Financial Statements April 309 1993 ' 18. Employee Retirement Systems (Cont.) ' (Totals 15.579.3701 Unfunded (Assets in Excess of) Pension Benefit Obligation _1.699.827 (879.797) 820.030 (Note) The pension benefit obligation applicable to retirees and beneficiaries ' currently receiving benefits is not included in the above schedule due to the fact that this obligation was transferred from the government to IMRF as a whole when the annuity became payable. 1 1 C. Funding Status and Progress (Cont.) Illinois Totals t Municipal Police (Memorandum Retirement Pension Only) Pension Benefit Obligation ' Retirees and Beneficiaries Currently Receiving Benefits and Terminated (Note) t Employees not yet Receiving Benefits S 152,996 3,802,194 3,955,190 Current Employees Accumulated Employee ' Contributions Including Allocated Investment Earnings 1,553,840 1,212,511 2,766,351 ' Employer - Financed Vested 3,406,507 3,316,465 6,722,972 Employer - Financed Nonvested 368.730 63.717 432.447 ' Total Pension Benefit Obligation 5,482,073 8,394,887 13,876,960 ' Net Assets Available for Benefits, at Lower of Cost or Market 3.782.246 9.274.684 13.056.930 (Market Values) (IMRF - S 4,074,161) (Police - 11.505.2091 ' (Totals 15.579.3701 Unfunded (Assets in Excess of) Pension Benefit Obligation _1.699.827 (879.797) 820.030 (Note) The pension benefit obligation applicable to retirees and beneficiaries ' currently receiving benefits is not included in the above schedule due to the fact that this obligation was transferred from the government to IMRF as a whole when the annuity became payable. 1 1 VILLAGE OF DEERFIELD, ILLINOIS Notes to the Financial Statements April 30, 1993 18. Employee Retirement Systems (Cont.) C. Funding Status and Progress (Cont.) Effects on the Pension Benefit Obligation of Current -Year Changes Illinois Municipal Retirement Current -year changes in the actuarial assumptions, benefit provisions and methodology are reflected in the pension benefit obligation shown above. This amount has been calculated by the System's actuary using the measure described above. The dollar effect of these changes on the pension benefit obligation was not economically determinable on an individual employer basis by IMRF. Police Pension Current -year changes in the actuarial assumptions, benefit provisions, and methodology resulted in an increase in the pension benefit obligation (PBO) of $734,498 as compared to the amount of the PBO calculated irrespective of such charges. D. Contributions Required and Contributions Made Illinois Municipal Retirement and Police Pension The Systems' funding policy provides for actuarially determined periodic contributions at rates that, for individual employees, accumulate assets gradually over time so that sufficient assets will be available to pay benefits when due. The rate for the government's employee group as a whole has tended to remain level as a percentage of annual covered payroll. The contributions rate for normal cost is determined using the entry age normal actuarial funding method. The IMRF and Police Pension Systems used the level percentage of payroll method to amortize the unfunded liability over a 40 year period. The significant actuarial assumptions used to compute the actuarially determined contribution requirements are the same as those used to compute the pension benefit obligation as described in C. above. 41 1 L 1 1 1 1 1 1 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS Notes to the Financial Statements April 30, 1993 18. Employee Retirement Systems (Cont.) D. Contributions Required and Contributions Made (Cont.) Illinois Totals Municipal Police (Memorandum Retirement Pension Only) Actuarial Valuation Date December 31, May 1, 1992 1992* Actuarially Determined Contri- bution Requirement As a Dollar Amount Employer Normal Cost Amortization of Unfunded Actu- arial Accrued Liability Death and Disability Cost Employee - Normal Cost As a % of Current Covered Payroll Employers Normal Cost Amortization of Unfunded Actu- arial Accrued Liability Death and Disability Cost Employee - Normal Cost Contribution Made $256,683 109,873 366,556 127,095 24,552 151,647 15.263 15.263 399,041 134,425 533,466 140.232 160.894 301.126 539 273 295,319 834,592 8.24% 6.22 7.48 4.08 1.39 3.09 .49 .31 12.81 7.61 10.88 4.50 9.10 6.14 17.31 16.71 17.02 As a Dollar Amount Employer $399,041 180,787 579,828 Employee 140.232 160.894 301.126 _539.273 341.681 8801954 As a % of Current Covered Payroll Employer 12.81% 10.23 11.83 Employee 4.50 9.10 6.14 17.31 19.33 17.97 * The contribution requirement for fiscal 1993 was determined by an actuarial valuation performed as of May 1, 1992. 42 U VILLAGE OF DEERFIELD, ILLINOIS Notes to the Financial Statements April 30, 1993 18. Employee Retirement Systems (Cont.) D. Contributions Required and Contributions Made (Cont.) Effects on the Contribution Requirements of Current -Year Changes Illinois Municipal Retirement The new actuarial assumptions adopted in 1991 have been incorporated into the 1993 contribution rates. The net effect of these changes is estimated to decrease contributions by 1% or less of payroll. Separate dollar effects of each change were not economically determinable by IMRF. Police Pension The contribution requirement for Fiscal 1993 was determined by an actuarial valuation performed as of May 1, 1992. As of that date there had been no changes in the actuarial assumptions, actuarial funding method, or benefit provisions. E. Trend Information Trend information gives an indication of the progress made in accumulating sufficient assets to pay benefits when due. Ten -year trend information may be found in the supplemental section of the government's annual financial report. 43 Illinois Totals Municipal Police (Memorandum Year Retirement Pension Only) Net Assets Available for Bene- 1991 51.97% 118.79 91.10 fits as a % of the Pension 1992 61.92 119.43 96.33 Benefit Obligation (PBO) 1993 68.99 110.48 106.28 Unfunded (Assets in Excess of) PBO as a % of Annual Covered Payroll (Expressing the unfunded pension benefit obligation as a percentage of annual covered payroll approximately adjusts 1991 76.55 (75.72) 21.95 for the effects of inflation 1992 59.96 (87.79) 9.47 for analysis purposes) 1993 54.57 (49.77) 16.97 Employer Contributions As a % of Annual Covered 1991 11.78 9.92 11.11 Payroll 1992 12.46 10.71 11.86 1993 12.81 10.23 11.83 Required 1991 $329,943 133,613 463,556 1992 372,669 142,751 515,426 1993 399,041 134,425 533,466 Made 1991 329,945 155,284 485,229 1992 372,669 16,6,382 539,051 1993 399,041 180,787 579,828 43 1 VILLAGE OF DEERFIELD, ILLINOIS ' Notes to the Financial Statements April 10, 1993 19. Subsequent Events On May 1, 1993 the government issued $9,995,000 General Obligation Refunding Bonds, ' Series 1993 for the purpose of refunding certain of the government's Corporate Purpose Bonds, Series 1986, and General Obligation Bonds, Series 1988. 1 1 1 1 1 I 1 1 1 1 1 1 44 1 r GENERAL FUND General To account for resources traditionally associated with governmental services not required to be accounted for in another fund. 1 1 r 1 1 1 r 1 1 1 i 1 r 11 1 1 1 1 I t f t VILLAGE OF DEERFIELD, ILLINOIS General Fund Balance Sheet April 30, 1993 ASSETS Cash and Investments Receivables Accrued Interest Other Due from Other Governments Sales Tax State Income Tax Due from Other Funds Inventory Advances to Other Funds Investment in Joint Venture - HELP Total Assets LIABILITIES AND FUND BALANCE Liabilities Bank Overdrafts Accounts Payable Accrued Payroll Compensated Absences Payable Other Payables Due to Other Funds Total Liabilities Fund Balance Reserved for Due from Other Governments Reserved for Inventory Reserved for Advances to Other Funds Reserved for Investment in Joint Venture - HELP Unreserved Designated - Future Improvements Undesignated Total Fund Balance Total Liabilities and Fund Balance See accompanying Notes to the Financial Statements. 45 S 7,257,665 6,516,130 48,217 50,469 62,535 75,311 355,110 313,842 185;791 134,091 261,406 288,038 4,886 9,939 1,320,000 1,320,000 146.832 .121.585 9.642.442 8.829.405 116,035 93,682 60,138 98,625 612,906 565,050 3,396 1,159 2.000 709.984 843.007 540,901 447,933 4,886 9,939 1,320,000 1,320,000 146,832 121,585 4,750,000 4,250,000 2.169.839 1.836.941 8.932.458 7.986.398 9.642.442 8.829.405 VILLAGE OF DEERFIELD, ILLINOIS General Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended April 30, 1993 Revenues Taxes Licenses and Permits Intergovernmental Charges for Services Fines and Forfeits Interest Miscellaneous Total Revenues Expenditures General Government Public Safety Total Expenditures Excess of Revenues over Expenditures Other Financing (Uses) Operating Transfers (Out) Transportation Fund Tax Incremental Finance District 2 Fund Refuse Fund Excess of Revenues over Expenditures and Other Financing Uses Fund Balance May 1 Residual Equity Transfer In Youth Bound Fund April 30 1993 1992 Budget Actual Actual $ 3,785,000 4,030,810 3,888,108 160,600 218,684 192,650 8,000 117,000 131,516 125,686 260,000 272,748 273,651 251,000 506,735 520,600 275,600 307,387 359,116 4,857,200 5,467,880 5,359,811 1,592,280 1,533,365 1,390,752 3,151,385 2,950,222 2,933,620 4,743,665 4,483,587 4,324,372 113,535 984,293 1,035,439 (2,500) (2,500) (2,000) (101,500) (35,733) (65,901) (100,000) _ (104,000) (38,233) (167,901) 9,535 946,060 867,538 7,986,398 7,113,448 5.412 8,932,458 7,986,398 See accompanying Notes to the Financial Statements. 46 1 l 1 t 11 1 f 1 1 1 1 1 11 1 I VILLAGE OF DEERFIELD, ILLINOIS General Fund rj 1 1 r 1 I 1 Schedule of Revenues - Budget and Actual Year Ended April 30, 1993 Taxes Sales Tax Local Use Tax Income Tax Hotel Motel Tax Photofinishing Tax Licenses and Permits Beer /Liquor Licenses Food Licenses Other Business Licenses Building Permits Animal Licenses Non - Business Licenses and Permits Intergovernmental State Grants Charges for Services Special Police Services Transfer Charges Engineering Charges Fines and Forfeits Interest Miscellaneous False Alarms Sale of Materials Rentals Miscellaneous Franchise Fees Income from Joint Venture Proceeds from Sale of Fixed Assets Total Revenues 47 S 2,100,000 2,212,747 110,000 100,245 675,000 693,285 900,000. 999,040 6,500 25.493 3.785.000 4.030.810 55,000 55,950 5,000 4,811 12,000 19,790 50,000 99,175 6,500 3,678 32.100 35.280 160.600 218.684 51,000 52,353 60,000 60,000 6.000 19.163 117.000 131.516 �I I 11 Pftf j W�jwlIil I ,�f Aj 50,000 44,290 2,075 38,600 29,000 22,000 12,792 165,000 178,313 25,247 275.600 15.670 307.387 4.857.200 5.467.880 VILLAGE OF DEERFIELD, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual Year Ended April 30, 1993 General Government Administration Department Salaries Overtime Part -Time Employee Benefits Professional Services Travel, Training and Dues Printing and Advertising Communications Insurance Contractual Services Utility Services Motor Vehicle Maintenance Repairs and Maintenance Equipment Rental Rental Property Repairs Miscellaneous Supplies .Materials Motor Vehicle Supplies Housing Assistance Apparel Small Tools and Equipment Equipment Motor Vehicles Improvements other than Buildings Total General Government Public Safety Police Department Administrative Service Salaries Overtime Part -Time Employee Benefits Professional Services Travel, Training and Dues Printing and Advertising Communications Insurance Contractual Services Motor Vehicle Maintenance Repairs and Maintenance 48 Budget Actual 806,100 762,891 7,590 6,943 90,480 118,044 132,610 100,834 180,000 215,048 21,250 27,560 20,600 20,577 26,650 22,204 61,000 54,525 74,100 78,743 4,300 4,206 8,100 7,959 24,200 9,915 907 4,000 750 34,800 30,860 37,600 20,667 1,000 2,800 3,421 33,000 26,700 600 149 1,000 637 11,500 10,774 9,000 8,981 70 1.592.280 1.533.365 530,150 528,144 6,060 2,734 24,110 9,652 77,240 50,556 . 7,000 1,262 5,500 3,731 6,400 4,780 20,100 18,686 128,000 116,262 68,520 52,524 2,900 1,690 19,000 16,251 I VILLAGE OF DEERFIELD, ILLINOIS General Fund Patrol Schedule of Expenditures - Budget and Actual (Cont.) 1,329,490 1,3019456 Year Ended April 30, 1993 55,120 37,512 Part -Time Budget Actual Employee Benefits Public Safety (Cont.) 147,484 Travel, Training and Dues Police Department (Cont.) 23,073 Motor Vehicle Maintenance Administrative Service (Cont.) 19,105 Motor Vehicle Supplies Supplies S 31,900 35,355 -, Motor Vehicle Supplies 2,000 574 Equipment Apparel 6,100- 6,100 Motor Vehicles Equipment 13,500 15,821 Motor Vehicles Miscellaneous 12,000 9.800 .12,630 2.989 Special Services 970.280 879.741 Overtime 23.090 Investigations Salaries 137,490 141,651 Overtime 7,800 3,125 Employee Benefits 19,590 14,252 Travel, Training and Dues 1,900 1,536 Motor Vehicle Maintenance 2,250 169 Motor Vehicle Supplies 1,800 828 Apparel 1,800 1,800 Equipment 3.750 3.323 176.380 166.684 Patrol 1 1 1 -49 Salaries 1,329,490 1,3019456 Overtime 55,120 37,512 Part -Time 44,950 33,658 Employee Benefits 183,190 147,484 Travel, Training and Dues 28,780 23,073 Motor Vehicle Maintenance 30,650 19,105 Motor Vehicle Supplies 35,000 43,643 Apparel 24,000 24,966 Equipment 4,500 3,616 Motor Vehicles 12.000 27.337 1.747.680 1.661.850 Special Services Overtime 23.090 13.897 1 1 1 -49 VILLAGE OF DEERFIELD, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual (Cont.) Year Ended April 30,'1993 Public Safety (Cont.) Police Department (Cont.) Youth Services Salaries Overtime Employee Benefits Travel, Training and Dues Motor Vehicle Maintenance Motor Vehicle Supplies Apparel Equipment Total Public Safety Total Expenditures 50 Budget Actual S 193,480 195,711 4,890 2,614 26,390 23,753 1,495 1,048 3,500 1,105 2,000 2,474 1,200 1,200 1,000 145 _ 3.1513$5__ 2.950.222 41743,665 4.483.587 1 1 1 1 1 t t 1 [I 1 SPECIAL REVENUE FUNDS MunlclRal Audit Fund An independent, outside audit Is conducted by a firm engaged by the Mayor and Board of Trustees on an annual basis as required by State law. These are earmarked funds that can only be expended for audit purposes. Emergency Services /Disaster Fund The Emergency Services and Disaster Agency supersedes the Civil Defense Agency and now basically relates to natural disasters caused by floods and tornadoes. The Agency also prepares a plan of action to be taken if man -made disasters occur. 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 Accounts for the revenues and resources used in maintaining approximately 70 miles of street and the Railroad Station in the Village of Deerfield. Illinois Municipal Retirement Fund To account for the revenues and expenditures associated with providing disability and pension benefits for Deerfield employees. The fund also provides the employer portion of F.I.C.A. Contributions. Motor Fuel Tax Fund To account for the activities involved with street maintenance and construction. Financing is provided by the Village's share of State gasoline taxes. State law required these gasoline taxes to be used for the following purposes: (1) Street construction or reconstruction to improve traffic capacity; (2) Installation of traffic signs, signals, and controls; (3) Sidewalk repair and replacement; and (4) The public benefit share of new street improvements when certain criteria are met in connection with a special assessment project. Transportation Fund To account for the Taxi Subsidy Program established for senior citizens and the handicapped. Enhanced 911 Fund To account for the 911 calling telephone system activity. 1 1 1 1 1 1 1 t 1 1 1 1 1 1 1 1 1 1 rA zz 9A 0 J I �1 N � O b i E �c H fit, \ 1 y •a e h� N8 " H a N R Q Q. '~ �R�S. N z g� 9A N � i j �5 Q F v N � 8 n y • ° H H v u W C F 064 u � � T ~= 3 � 00 Y9p uD O aa0" " h a C SE r� C g a 'b •� i Q g� � S �a o�Ao c ..i .-i H =2 O a O t J � O u a � H w w 8w2 ii1 {� y • � Q a' b � �w U U > a C SE r� C g a 'b •� i Q g� � S �a o�Ao c ..i .-i RkO `u 4A N y i o H O O t O H � I �0 7S v RkO `u 4A N y i o n pQA O H le ! y e N V N � n N N M v ell M N N (� Q Vf �O ap 0 r, H II I II I I a 6 9 Z a �° E oA Z !, a S, C cc a M 4 N 02 air a O w' N n pQA O H le ! y e N V N � n N N M v ell M N N (� Q Vf �O ap 0 r, H II I II I I a 6 9 Z a �° E oA Z !, a S, C cc a M 4 N 02 air a O w' 1 1 1 1 i 1 r r i r VILLAGE OF DEERFIELD, ILLINOIS Municipal Audit Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended April 30, 1993 Revenues Taxes Property Taxes Interest Total Revenues Expenditures Miscellaneous Contractual Excess of Revenues Over Expenditures Fund Balance May 1 April 30 1993 1992 Budget Actual Actual $ 14,000 13,521 12,592 20 26 14,000 13,541 12,618 See accompanying Notes to the Financial Statements. 53 13.500 12,600 12.400 S 0 941 10.383 1 218 10.165 1 VILLAGE OF DEERFIELD, ILLINOIS Emergency Services /Disaster Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended April 30, 1993 Revenues Taxes Property Taxes Interest Miscellaneous Total Revenues Expenditures Public Safety Travel, Training and Dues Communications Insurance Contractual Utility Services Motor Vehicle Maintenance Petroleum Products Repairs and Maintenance Supplies Equipment Total Expenditures Excess (Deficiency) of Revenues over Expenditures Fund Balance May 1 April 30 1993 1992 Budget Actual Actual $ 5,000 5,022 5,037 7 11 5.000 5.000 10.029 5.048 700 1,800 1,097 1,599 600 250 262 300 90 39,918 100 550 105 1,300 965 480 200 1,000 .120 404 500 120 1.000 7.500 3.072 42.888 2 500 6,957 (37,840) 118.500) 19.340 11543 18 500 See accompanying Notes to the Financial Statements. 54 1 1 1 1 1 1 1 11 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS Library Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended April 30, 1993 Revenues Taxes Property Taxes Replacement Taxes Intergovernmental Grants Charges for Services Non - Resident Fees Fees, Fines, Penalties Reciprocal Borrowing Xerox Videos Interest Miscellaneous Tax Incremental Finance District Surplus Property Tax Rebate Gifts Reserve for Repairs and Replacement Total Revenues Expenditures Culture and Recreation Excess of Revenues over Expenditures Fund Balance May 1 April 30 1993 1992 Budget Actual Actual $ 944,194 861,656 767,855 16,000 16,544 16,234 15,767 16,461 15,768 16,000 17,502 21,250 38,500 41,076 45,144 5,000 1,531 5,854 10,000 10,955 11,220 22,000 24,157 25,661 32,500 32,128 40,296 157,365 118,751 308,099 500 1,201 1,062 160.000 1,417,826 11141,962 1,258,443 See accompanying Notes to the Financial Statements. W 1.260.461 1.099.435 1.044.484 157.365 42,527 657.784 700,311 213,959 443.825 6 VILLAGE OF DEERFIELD, ILLINOIS Library Fund Schedule of Expenditures - Budget and Actual Year Ended April 30, 1993 Budget Actual Culture and Recreation Salaries - Professional Salaries - Non - Professional Employee Benefits Professional Services Education, Travel and Dues Communication Insurance Contractual Services Utilities Repairs, Maintenance of Building and Equipment Building Supplies Supplies - Library and Office Books Periodicals Audio - Visual Binding Special Library Programs Data Base New Equipment Printing Cataloging Service Miscellaneous Automation Project Improvements - Other than Building Total Expenditures 56 S 273,866 266,192 387,565 365,349 48,625 55,140 5,000 24,625 5,500 7,718 11,700. 8,555 19,400 10,701 13,000 12,207 1,900 1,465 115,000 49,945 22,000 16,599 96,000 97,556 35,000 37,590 20,000 18,349 2,500 1,323 3,500 8,192 2,300 1,431 8,000 18,472 7,500 7,755 6,500 2,972 1,000 1,276 94,605 80.000 86,023 11260,461 1.099.435 1 ISee accompanying Notes to the Financial Statements. 57 VILLAGE OF DEERFIELD, ILLINOIS Street and Bridge Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended April 30, 1993 1993 1992 Budget Actual Actual Revenues Taxes Property Taxes $ 330,000 336,280 332,421 Licenses and Permits Vehicle Licenses 340,000 335,737 338,023' Charges for Services State Highway Maintenance 25,000 2S,45S 25,038 SO /50 Sidewalk and Curb 20,000 33,849 15,990 50150 Tree 5,000 3,205 3,968 Train Station Maintenance 1,500 1,500 1,500 Traffic Signal Reimbursement 3,000 2,352 Interest 25,000 27,011 37,156 Miscellaneous Other 3,000 5.544 2,061 Total Revenues 752,500 768,581 758,509 Expenditures Highways and Streets Administration 163,140 161,124 168,613 Cleaning 42,790 35,286 45,366 Traffic Marking 56,850 45,857 49,299 ' Pavement Patching 101,890 100,577 111,587 Tarring Cracks 49,760 28,181 47,414 Drainage Structure 30,390 32,795 32,923 Street Lights and Traffic Signals 12S,180 95,907 115,294 Miscellaneous Maintenance 121,470 129,735 101,501 Snow and Ice Control 134,030 211,724 142,722 Weed Control 15,440 15,547 16,845 - Tree Removal Tree Planting 53,420 21,600 50,423 11,667 50,835 16,774 Railroad Station -Maintenance 33,920 25,754 23,442 Total Expenditures 949,880 944,577 922,615 Excess (Deficiency) of Revenues over Expenditures (197,380) (175,996) (164,106) _ Other Financing Sources (Uses) Operating Transfers In (Out) Motor Fuel Tax Fund 205,000 205,000 205,000 Commuter Parking Lot Fund 70,000 70,000 50,000 Vehicle Replacement Fund (59,470) (59,480) (65,070) 215,530 215,520 189,930 Excess of Revenues and Other Financing Sources over Expenditures and Other Financing Uses 18.150 39,524 25,824 Fund Balance May 1 284,824 264,000 April 30 32�4y348 2 ISee accompanying Notes to the Financial Statements. 57 VILLAGE OF DEERFIELD, ILLINOIS Street and Bridge Fund Schedule of Expenditures - Budget and Actual Year Ended April 30, 1993 Highways and Streets Public Works Administration Salaries Overtime Employee Benefits Professional Services Travel, Training and Dues Printing and Advertising Communications Insurance Motor Vehicle Maintenance Miscellaneous Supplies Motor Vehicle Supplies Apparel Repairs and Maintenance Contractual Cleaning Salaries Overtime Employee Benefits Small Tools and Equipment Contractual. Motor Vehicle Maintenance Repairs and Maintenance Equipment Rental Motor Vehicle Supplies Supplies Traffic Marking Salaries Overtime Part -Time Employee Benefits Motor Vehicle Maintenance Repairs and Maintenance Motor Vehicle Supplies Materials Street Signs Contractual 58 Budget .Actual $ 57,960 61,988 6,550 5,825 9,230 8,087 300 136 1,800 1,718 4,200 3,551 4,500 3,770 58,500 47,126 2,900 5,184 2,000 2,237 4,000 8,187 1,500 1,299 1,800 1,881 3,300 2,528 4.600 7.743 163.140 161,124 20,720 18,421 1,040 676 3,180 2,730 700 136 2,000 2,500 4,100 1,369 5,800 6,880 1,000 4,040 1,850 2.400 931 10.000 1.643 42.790 35.286 25,900 18,317 210 363 3,150 3,179 3,990 2,658 900 454 500 668 200 5,000 4,040 7,000 4,786 10.000 11.392 56.850 45.857 VILLAGE OF DEERFIELD, ILLINOIS Street and Bridge Fund Schedule of Expenditures - Budget and Actual (Cont.) Year Ended April 30, 1993 Budget Actual Highways and Streets (Cont.) Public Works (Cont.) Pavement Patching Salaries Overtime Employee Benefits Motor Vehicle Maintenance Repairs and Maintenance Supplies Motor Vehicle Supplies Aggregates Materials 59 $ 50,180 54,362 Tarring Cracks 170 7,140 Salaries 5,830 6,499 Overtime 2,180 Part -Time 671 Employee Benefits 875 Motor Vehicle Maintenance 28,680 Repairs and Maintenance 943 Motor Vehicle Supplies ' Aggregates 28.181 Materials Equipment Rental Drainage Structures Salaries Overtime Employee Benefits Motor Vehicle Maintenance Repairs and Maintenance Motor Vehicle Supplies Aggregates Materials Street Lights and Traffic Signals Salaries Overtime � Employee Benefits Contractual Utility Services Motor Vehicle Maintenance Repairs and Maintenance 59 $ 50,180 54,362 1,040 170 7,140 6,868 5,830 6,499 4,000 2,180 200 671 2,000 875 30,000 28,680 1.500 943 101.890 100.577 24,170 19,982 520 661 3,790 3,570 4,380 2,712 1,700 494 2,100 671 1,500 1,032 600 653 9,000 99 2.000 49.760 28.181 18,800 21,990 1,040 661 2,720, 3,024 2,330 2,418 1,500 442 200 321 1,800 1,032 19,610 23,074 4,160 2,199 2,110 2,972 28,000 13,223 58,000 45,881 2,000 2,746 1,500 2,674 1 VILLAGE OF DEERFIELD, ILLINOIS Street and Bridg e Fund Schedule of Expenditures - Budget and Actual (Cont.) Year Ended April 30, 1993 Highways and Streets (Cont.) Public Works (Cont.) Street Lights and Traffic Signals (Cont.) Equipment Rental $ 1,000 Motor Vehicle Supplies 1,000 1,028 Aggregates 300 348 Materials 7.500 1.762 125.180 95.907 Miscellaneous Maintenance Salaries 16,950 5,301 Overtime 3,120 3,306 Employee Benefits 2,650 765 Contractual 55,700 91,006 Motor Vehicle Maintenance 1,000 2,030 Repairs and Maintenance 3,200 2,295 Small Tools and Equipment 600 16 Miscellaneous 1,200 3,814 Motor Vehicle Supplies 500 319 Aggregates 4,000 875 Materials 31,550 23,822 Equipment Rental 1.000 211.724 Weed Control 121.470 129.735 Snow and Ice Control Salaries 20,750 40,854 Overtime 18,720 45,525 Employee Benefits 4,060 6,103 Motor Vehicle Maintenance 10,000 15,908 Repairs and Maintenance 20,000 36,451 Equipment Rental 1,000 Supplies 2,500 669 Motor Vehicle Supplies 5,000 3,814 Salt 44,000 55,025 Aggregates 6,000 5,697 Materials 2.000 1.678 134.030 211.724 Weed Control Salaries 4,110 9,138 Overtime 100 Part -Time 3,150 179 Employee Benefits 1,210 1,355 Motor Vehicle Maintenance 1,170 867 60 1 VILLAGE OF DEERFIELD, ILLINOIS Street and Bridg e Fund Schedule of Expenditures - Budget and Actual (Cont.) Year Ended April 30, 1993 Total Expenditures 1 61 Budget Actual $ 3,600 3,423 500 163 1,000 62 600 36 15.440 15.547 12,950 Highways and Streets (Cont.) 690 Public Works (Cont.) 5,590. Weed Control (Cont.) 1,670 Repairs and Maintenance 30,000 Motor Vehicle Supplies 820 Materials 800 Equipment 400 638 21.600 Tree Removal Salaries Overtime Part -Time Employee Benefits Contractual Motor Vehicle Maintenance Repairs and Maintenance Motor Vehicle Supplies Equipment Tree Planting Salaries Overtime Employee Benefits Contractual Motor Vehicle Maintenance Repairs and Maintenance Motor Vehicle Supplies Materials Railroad Station Maintenance Salaries Overtime Part -Time Employee Benefits Contractual Services Repairs and Maintenance 1 Supplies Aggregates Materials Total Expenditures 1 61 Budget Actual $ 3,600 3,423 500 163 1,000 62 600 36 15.440 15.547 12,950 11,070 690 594 5,590. 2,222 1,670 1,509 30,000 32,954 820 388 800 716 400 638 10,210 5,517 210 72 690 550 9,000 4,340 590 623 300 255 200 154 400 156 21.600 11.667 5,200 5,145 520 5 5,240 2,581 1,880 606 8,480 9,369 4,700 2,925 700 495 200 7.000 355 4.273 33.920 25.754 949.880 944.577 VILLAGE OF DEERFIELD, ILLINOIS Illinois Municipal Retirement Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended April 30, 1993 Revenues Taxes Property Taxes Replacement Taxes Interest. Total Revenues Expenditures Miscellaneous Illinois Municipal Retirement Payments - Employer FICA Payments - Employer Excess of Revenues over Expenditures Fund Balance .May 1 April 30 1993 1992 Budget Actual Actual $ 750,000 671,727 6149479 6,500 6,850 6,722 3.000 1.466 2.393 759.500 680.043 623.594 430,000 413,604 383,211 303.000 255.807 234.439 733.000 669.411 617.650 26 50 10,632 (213.814) 203 1 2 See accompanying Notes to the Financial Statements. 62 5,944 (219,758) 21 14 VILLAGE OF DEERFIELD, ILLINOIS ' Motor Fuel Tax Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended April 30, 1993 ' Expenditures Revenues Intergovernmental Allotments Earned Interest Total Revenues ' Expenditures Highways and Streets Street Resurfacing and Renovation Program Bridge Rehabilitation Traffic Signals Total Expenditures Excess (Deficiency) of Revenues ( over Expenditures Other Financing Sources (Uses) Operating Transfers In (Out) Street and Bridge Fund Infrastructure Replacement Fund Excess (Deficiency) of Revenues and Other Financing Sources over Expenditures and Other Financing Uses Fund Balance May 1 April 30 1 1 1 63 1993 1992 $ 375,000 351,435 361,862 40.000 32.465 39.227 415.000 383:900 401.089 87,000 88,267 71,396 85,000 10,932 65.000 21.491 237.000 120.690 71.396 178.000 263.210 329.693 (205,000) (205,000) (200,000) 16.678 (205.000) (205.000) (183.322 (27,900) 58,210 146,371 887.490 741.119 945.700 887,490 . VILLAGE OF DEERFIELD, ILLINOIS Transportation Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended April 30, 1993 Revenues Intergovernmental 'Grant Expenditures Miscellaneous Transportation Excess (Deficiency) of Revenues over Expenditures Other Financing Sources Operating Transfers In General Fund Excess (Deficiency) of Revenues and Other Financing Sources over Expenditures Fund Balance May 1 April 30 1993 1992 Budget Actual Actual $ 4,000 1,010 2,765 5.200 4.017 4.298 (1,200) (3,007) (1,533) 2,500 2.500 2.000 1300 (507) 6.290 5,783 See. accompanying Notes to the Financial Statements. 64 467 5.823 6,290 i 1 1 1 1 lJ 1 1 i 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS Enhanced 911 Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended April 30, 1993 Revenues Charges for Services Other Charges Interest Total Revenues Expenditures Public Safety Contractual Repairs and Maintenance Equipment Improvements Other than Buildings Miscellaneous Total Expenditures Excess of Revenues over Expenditures Fund Balance May 1 April 30 1993 1992 Budget Actual Actual $ 90,000 99,808 91,662 500 939 165 90.500 '100,747 91.827 29,640 37,338 70,079 15,000 4,262 4,807 60 44.640 41.600 74.946 45.6 59,147 See accompanying Notes to the Financial Statements. 65 36 6 2 16,881 (53.250) 36 369 !I U 1 1 1 1 i] 1 1 1 1 1 1 1 1 1 DEBT SERVICE FUNDS Debt Service Fund - to account for the accumulation of resources for the payment of General Long -Term Debt. 1993 Bond Proceeds Fund - to account for the accumulation of resources for the payment of General Long -Term Debt (Bond Series 1993). 1 1 1 L See accompanying Notes to the Financial Statements. 66 VILLAGE OF DEERFIELD, ILLINOIS Debt Service Funds Combining Balance Sheet April 30, 1993 1993 Debt Bond Totals Service Proceeds 1993 1992 ASSETS Cash and Investments $ 1,612,449 199,969 1,812,418 1,252,056 Receivables Property Taxes 1,018,289 1,018,289 1,149,440 ' Accrued Interest Prepaid Items 6,761 14,838 6,761 14,838 8,149 Due from Other Funds 524.493 Total Assets 2.637.499 214,807 2,852,306 2,931138 LIABILITIES AND FUND BALANCES Liabilities Accounts Payable 751 14,838 15,589 Due to Other Funds 908 908 2,358 Deferred Property Taxes 1,140,724 1,140,724 1,278,563 Deferred Revenues 199.969 199.969 Total Liabilities 1,142,383 214,807 1,357,190 1,280,921 ' Fund Balances Reserved for Debt Service 1.495.116 1.495.116 1.653.217 Total Liabilities and Fund Balances 2.637.499 214.807 2.852.306 2.934.138 1 1 L See accompanying Notes to the Financial Statements. 66 VILLAGE OF DEERFIELD, ILLINOIS Debt Service Funds Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Year Ended April 30, 1993 Revenues Taxes Property Taxes Replacement Taxes Interest Miscellaneous Tax Incremental Finance District Surplus Property Tax Rebate Total Revenues Expenditures Debt Service Principal Retirement Interest Fiscal Charges Total Expenditures Excess (Deficiency) of Revenues over Expenditures Other Financing Sources Operating Transfers In Excess (Deficiency) of Revenues and Other Financing Sources over Expenditures Fund Balances May 1 April 30 1993 Debt Bond Totals Service Proceeds 1993 1992 S 1,297,991 1,297,991 1,259,336 47,676 47,676 46,781 66,698 66,698 101,570 188.426 188.426 224.011 1.600.791 - 1.600.791 1.631.698 1,260,000 1,260,000 895,000 950,312 950,312 970,307 5.330 5,330 4,370 2.215.642 2.215.642 1.869.677 (614,851) - (614,851) (237,979) 1 456.750 456.750 596,450 (158,101) - (158,101) 358,471 1.653.217 1.653.217 1.294.746 1.495.116 1.495.116 1.653.217 See accompanying Notes to the Financial Statements. 67 n VILLAGE OF DEERFIELD, ILLINOIS tDebt Service Fund 1 1 1 1 I 1 1 1 Il Statement of Revenues, Expenditures, and Changes in.Fund Balance - Budget and Actual Year Ended April 30, 1993 1993 1992 Budget Actual Actual Revenues Taxes Property Taxes Replacement Taxes Interest Miscellaneous Tax Incremental Finance District Surplus Property Tax Rebate Total Revenues Expenditures Debt Service Principal Retirement Interest Fiscal Charges Total Expenditures Excess (Deficiency) of Revenues over Expenditures Other Financing Sources Operating Transfers In Tax Incremental Finance District #1 Fund Tax Incremental Finance District #2 Fund $ 1,146,000 1,297,991 1,259,336 Excess (Deficiency) of Revenues and 47,676 Other Financing Sources over ' Expenditures 101,570 Fund Balance May 1 April 30 $ 1,146,000 1,297,991 1,259,336 35,000 47,676 46,781 90,000 66,698 101,570 225.000 188.426 224.011 1.496.000 1.600.791 1.631.698 1,954,9741 1,260,000 895,000 J 950,312 970,307 5.000 5.330 4.370 1.959.974 2.215.642 1.869.677 ' See accompanying Notes to the Financial Statements. 68 89,250 89,250 171,800 367.500 367.500 424.650 456.750 456.750 596.450 (7.2241 (158,101) 1.653.217 1.4116 358,471 1.294.746 1.6 VILLAGE OF DEERFIELD, ILLINOIS Debt Service Fund Schedule of Expenditures - Budget and Actual Year Ended April 30, 1993 Budget Actual Debt Service Sewerage Improvement Bond Series of 1973 Principal Interest Sewerage Treatment Facility Bond Series of 1973 Principal Interest Corporate Purpose Bond Series of 1982 Principal Interest Corporate Purpose Bond Series 1982 -A Principal Interest Corporate Purpose Bond Series of 1986 Principal Interest General Obligation Bond Series of 1988 Principal Interest General Obligation Bond Series of 1991 Principal Interest Fiscal Charges Total Expenditures 69 [ 50,000 [ 2,500 [ 150,000 [ 7,500 [ 75,000 [ 21,150 $ 1,954,974 [ 50,000 [ 8,500 [ 485,000 [ 646,100 [ 150,000 [ 181,462 [ 300,000 [ 83,100 1,959,974 2.215.642 1 I CAPITAL PROJECTS FUNDS Tax Incremental Finance District 1 Fund Established In 1982 to provide funds for land acquisition and improvements to the Village of ' Deerfield Tax Increment Financing District. Tax Incremental Finance District 2 Fund Established in 1987 to provide funds for land acquisition and improvements to the Village of Deerfield Tax Increment Financing District. ' Brickyards Development Fund Established for the purpose of providing improvements to the area known as The Brickyards ' property. This includes construction of Culverts, Creek Realignment, and the extension of Pfingsten Road, which includes a bridge at Lake -Cook and an overpass at Rates Road. ' Vehicle Replacement Fund Established to account for the funds annually set aside for the eventual replacement of certain ' vehicles. Brickyard Park Fund I Established in 1988 to account for the construction and engineering of a park for Deerfield Park District located within the area known as The Brickyards. ' Capital Improvements Series 1988 Fund Established in 1988 to provide funds for the acquisition of right -of -way for the Access Avenue Project: traffic signal modification; sanitary sewer and street rehabilitation; the installment ' of a new 16 Inch water main, and storm drainage Improvements. Infrastructure Replacement Fund Established in 1989 for the purpose of maintaining, repairing and renovating the capital assets of the Village. ' Project 29 Fund Established in 1991 to account for the funds held in escrow as required by the Local Cooperation Agreement between the Department of the Army and the Village for the construction of the Flood Water Retention Reservoir No. 29A on the West Fork of the North Branch of the Chicago River. Capital Projects Series 1991 Established in 1991 to provide various improvements for the redevelopment of downtown Deerfield. 1 1 1 li 1 1 F 1 1 1 1 1 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS Capital Projects Funds Combined Balance Sheet April 30, 1993 (See Following Page) 9- L4 DO z J J 0 w .. 'A u u e°n 7 W �+ a D V C O •o °°� ►. V a a oo .. 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N r .! a ao r %0 00 7 N N .4 N oo m V) V1 a M ' a W v ea W u �a t , 1 V V Q u 8 ' ee h 9 93 u ' Y q 'C ep aC0 V .M� y y N C K y a C w Y a �� a w l iL c a 4) x C a p C 0 C .+ v0.�0 o u u u u� Y C 'p t t O r a W Y im v y a 'A a w C 4- a iL Y Y m 7 0 u u W W O (A w 0 Z K h C y Y; Y a0 Y i� N •W C 'A 66 C '� ba . 0 x w Y 0+ �"' O y F Y E Y '7` O z 0 K Y C r 00 W W tl0 ... w w C C u o" p ' , y Y y. =�_� Vl �a�� y � y H4) �� C �� 0'bo W�� r u 0.V C a ter O E u O w� m Y O a x C w ci a ao 8 m u ee 0 u u 0 x v) : E. .�. iy e t E. " W w w u ee r+ 0 p y~ a0 C, 1r u W Y C xo. en ., wF a ;� !' O p C a.UOv� ~ b �L Y w 4. ac. y~ w= O __ ~ V u �- >H �� au y o _ w X000 �o� a a a" w w 0 w w 1 1 1 ENTERPRISE FUNDS 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 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. - t Refuse Fund To account for all revenues and expenses necessary to provide the residents of the Village of Deerfield with refuse service. Commuter Parking Lot Fund To account for all activity necessary to construct, operate, and maintain the commuter parking facilities within the Village. f 1 1 See accompanying Notes to the Financial Statements. I 72 Fixed Assets (Net of Contributed Capital VILLAGE OF DEERFIELD, ILLINOIS 2.212,724 5,463,994 7,720,693 269573 7,946,291 8.308,411 Enterprise Funds 5.025.044 72.35.134 797.737 747.601 13.805516 13.994,921 j 682,991 489,836 5586.863 5393,721 Total Fund Equity 4,840.298 7,038,764 682.991 745,503 Combining Balance Sheet 13,306,187 Total Liabilities and April 30, 1993 r Fund Equity 5.025,044 7.235.134 797.737 747.601 13.805516 \�1 Current liabilities Commuter Accounts Payable 135,826 83 ,573 104,739 Parting Totals 351,208 Accrued Payroll Water Sewerage Refuse Lot 1993 1992 ASSETS 48,920 112,797 161,717 148,589 Current Assets 10.007 10.007 166.629 Cash and Investments $ 2,223,W 1,403,226 114.746 468,941 4,095,711 3,919,940 Receivables Property Taxes 647,554 647 ,554 651,794 Accounts 427,419 .270,944 145,470 843,833 841,701 Accrued Interest 11,756 20,842 9,087 41,685 36,945 Other Due from Other Funds 95 ,525 7,441 3,551 1,162 106,517 1,162 129,044 Inventories 28,344 5,186 33 ,530 33,1% Investment in Joint Venture - HELP 25.732 63,501 89.233 73,890 2,812,320 1,771,140 797,737 478,028 5A59,M 5,686,510 See accompanying Notes to the Financial Statements. I 72 Fixed Assets (Net of Contributed Capital Accumulated Depreciation) 2.212,724 5,463,994 7,720,693 269573 7,946,291 8.308,411 Total Assets 5.025.044 72.35.134 797.737 747.601 13.805516 13.994,921 1.314,211 682,991 489,836 5586.863 5393,721 Total Fund Equity 4,840.298 7,038,764 682.991 745,503 LIABILITIES AND FUND EQUITY 13,306,187 Total Liabilities and r Fund Equity 5.025,044 7.235.134 797.737 747.601 13.805516 \�1 Current liabilities Accounts Payable 135,826 83 ,573 104,739 2,098 326,236 351,208 Accrued Payroll 22,308 Compensated Absences Payable 48,920 112,797 161,717 148,589 Due to Other Funds 10.007 10.007 166.629 Total Liabilities 184.746 196.370 114.746 2.098 497,960 688.734 See accompanying Notes to the Financial Statements. I 72 Fund Equity Contributed Capital 1,740,473 5,724,553 255,667 7,720,693 7,912,466 Retained Earnings Unreserved 3,099,825 1.314,211 682,991 489,836 5586.863 5393,721 Total Fund Equity 4,840.298 7,038,764 682.991 745,503 13,307556 13,306,187 Total Liabilities and r Fund Equity 5.025,044 7.235.134 797.737 747.601 13.805516 13,994.421 See accompanying Notes to the Financial Statements. I 72 M AGE OF DEERFIELD, ILLINOIS Enterprise Funds Combining Statement of Revenues, Expenses, and Changes in Retained Earnings - Unreserved Year Ended April 30, 1993 Operating Expenses Excluding Commuter Depreciation Parking Totals Water Seweraee Refuse Lot 1993 1992 Operating Revenues 479,911 456,922 Operations 2,0488S9 IAd9,10S Charges for Services 42502 4,541,713 4,665,200 Total Operating Expenses Water Sales $ 2,334,839 2,334,839 2,243,W Sewer Charges 1,153,033 1.460430 42502 1,153,033 1,149,930 Refuse Brings 7S2,995 752,995 749,981 Parking Lot Fees before Depreciation 133,808 ISSS.n ISSIM 139,663 Surcharges 48,316 Depreciation 90505 48,316 48,184 Miscellaneous 47,748 59,623 1,540 Operating Income (Loss) 108,911 83 830 Total Operating Revenues 2.38227 1.260,972 734,535 155,577 4553 671 4,415X94 Operating Expenses Excluding Depreciation Administration 199,920 210,808 69,183 479,911 456,922 Operations 2,0488S9 IAd9,10S 1,391,247 42502 4,541,713 4,665,200 Total Operating Expenses Excluding Depreciation 2,248,779 1,269,913 1.460430 42502 S 021624 5,122,122 Operating Income (Loss) before Depreciation 133,808 (8,941) (70.5,895) 113,075 (467,953) (706,968) Depreciation 90505 262,706 30,944 394,055 467,431 Operating Income (Loss) 43,303 (271,647) (705,895) 82,231 (952,008) (1,174,399) Nonoperating Revenues Interest Income 127,64 90,959 8,034 33,404 259,961 285,712 Income from Joint Venture 4,425 10,918 15,343 16,589 Property Taxes 726,797 726,797 730-VA 131,989 101,877 734831 33,404 1,002,101 1,032,625 Income (Loss) before Operating Transfers 175.292 (169,770) 28,936 115 635 L50,093 (141774) Operating Transfers In 100,000 Operating Transfers (Out) (33,750) (32,980) (12,000) (70,000) (148,730) (135100) (33,750) (32,980) (12,000) (70,000) (148,730) (35100) Net Income (Loss) 141,542 (202,750) 16,936 45,635 1,363 (176,874) Other Ganges in Retained Earnings Unreserved Depreciation that Reduces Contributed Capital 40,357 135,951 15,465 191,773 235,552 Net Increase (Decrease) in Retained Earnings - Unreserved 181,899 (66,799) 16,936 61,100 193,136 58,678 Retained Earnings - Unreserved May 1 2,917,926 1,381,010 666,055 428,736 5,393,727 S 335 049 APB 30 3,099,825 L314,211 682,991 489.&16 5586 863 5.393 7.27 See accompanying Notes to the Financial Statements. 73 1 VILLAGE OF DEERFIELD, ILLINOIS Enterprise Ands I Cash Flows from Investing Activities Purchase of Investment Securities Proceeds from Sale and Maturities of Investment Securities Interest on Investments Combining Statement of Cash Flows Year Ended April 30, 1993 i Cash Equivalents 3,682,923 Cash and Cash Equivalents 127564 May 1 r•, 30 259,961 285.712 (88.656) Commuter 60.148 Cash and Cash Equivalents 82.039 Investments Panting Totals Water Sewerage Refuse Lot 1993 1992 Cash Flows from Operating Activities Operating Income (Loss) $ 43,303 (271,647) (703,895) 82,231 (852,008) (1,174,405) Adjustments to Reconcile Operating Income (Loss) to Net Cash Provided by Operating Activities Depreciation 90505 262,706 30,844 384,055 467,431 Other Nonoperating Revenues 726,797 726,797 730,324 Changes in Assets and Liabilities Receivables 23,723 (5,056) 4,706 (3,478) 191895 (5,262) Due from Other Funds (1,161) (1,161) 17,618. ' Inventories (SM) 172 (334) 1,382 Accounts Payable 7,705 (2,547) (30,844) 714 (24,971) 52,659 Accrued Payroll (6,104) (15,982) (222) (22,308) 5,115 Compensated Absences Payable 6,825 6,303 13,128 48,008 Due to Other Funds (18.026) (17,994) (70,602) (50.000) (156.622) 48.262 147.425 (44.045) (76.999) 60,089 86.470 191.132 Cash Flows from Noncapital Financing Activities Operating Transfers In 100,000 Operating Transfers (Out) (33,750) (32,980) (12.000) (70.000) (148.730) (135.100) (33.750) (32.980) (12,000) (70.000) (148,730) (35.100) Cash Flows from Capital and Related Financing Activities Fixed Assets Purchased (16.085) (5.850) (21.935) (16.361) I Cash Flows from Investing Activities Purchase of Investment Securities Proceeds from Sale and Maturities of Investment Securities Interest on Investments 1 1 (2,448,838) (1,046,636) (365,371) (3,860,845) (4549,390) 2,232,618 Net Increase (Decrease) in Cash and i Cash Equivalents 3,682,923 Cash and Cash Equivalents 127564 May 1 iApril 30 259,961 285.712 (88.656) Cash and Investments 60.148 Cash and Cash Equivalents 82.039 Investments 1 1 (2,448,838) (1,046,636) (365,371) (3,860,845) (4549,390) 2,232,618 1,037,182 52,114 361,009 3,682,923 2,430,889 127564 90.959 8.034 33.404 259,961 285.712 (88.656) 81505 60.148 29.042 82.039 (1.812389) 8,934 4,480 (28,851) 13,281 (2,156) (1,673,118) 133.710 145.139 28.851 33.626 341.326 2.014.444 142.644 149.619 46.907 339.170 341.326 142,644 149,619 46,907 339,170 341,326 2.080.900 1.253.607 422.034 3.756,541 3.578.614 2,223544 1.403,226 468.941 4.095,711 3,919,940 Noncash Investing, Capital, and Financing Activities The Water Fund and Sewerage Fund recorded an income from joint venture of $4,425 and $10,918, respectively. See accompanying Notes to the Financial Statements. 74 VILLAGE OF DEERFIELD, ILLINOIS Water Fund Balance Sheet April 30, 1993 1993 1992 ASSETS Current Assets Cash and Investments Receivables Accounts - Billed - Unbilled Accrued Interest Other Inventories Investment in Joint Venture - HELP Fixed Assets Cost Accumulated Depreciation Total Assets LIABILITIES AND FUND EQUITY Current Liabilities Accounts Payable Accrued Payroll Compensated Absences Payable Due to Other Funds Fund Equity Contributed Capital Retained Earnings Unreserved Total Fund Equity Total Liabilities and Fund Equity $ 2,223,544 1,998,390 82,717 101,392 344,702 325,815 11,756 13,433 95,525 117,783 28,344 27,838 25.732 21.307 2.812.320 2.605.958 3,514,419 3,498,334 _(1,301,695) (1.211,190 , 2,212,724 2.287.144 5.025,044 4,893,102 135,826 128,121 6,104 48,920 42,095 18,026 184.746 194.346 1,740,473 1,780,830 3.099.825 2.917.926 4.840.298 4.698.756 5.025.044 4.893.102 See accompanying Notes to the Financial Statements. 75 I I f 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS Water Fund Statement of Revenues, Expenses, and Changes in Retained Earnings - Unreserved - Budget and Actual Year Ended April 30, 1993 Operating Revenues Charges for Services Water Sales Miscellaneous Permits and Fees Penalties Other Total Operating Revenues Operating Expenses Excluding Depreciation Administration Operations Distribution Maintenance - Mains and Fire Hydrants Maintenance - Meters Total Operating Expenses Excluding Depreciation Operating Income (Loss) before Depreciation Depreciation Operating Income (Loss) Nonoperating Revenues Interest Income Income from Joint Venture Income (Loss) before Operating Transfers Operating Transfers (Out) Vehicle Replacement Fund Net Income (Loss) Other Changes in Retained Earnings - Unreserved Depreciation that Reduces Contributed Capital Net Increase in Retained Earnings - Unreserved Retained Earnings - Unreserved May 1 April 30 See accompanying Notes to the Financial Statements. 76 1993 1992 Budget Actual Actual $ 2,221,000 2,334,839 2,243,566 10,000 18,515 7,685 25,000 23,711 27,429 8.000 5.522 1.687 2.264.000 2.382.587 2.280.367 210,840 199,920 186,212 1,840,114 1,777,378 1,707,731 222,330 222,814 228,034 75.111 48.667 68.849 2.348.395 2.248.779 2.190.826 (84,395) 133,808 89,541 90.505 98.462 (84.395) 43.303 (8.921) 100,000 127,564 152,455 4.425 4.783 _100,000 131.989 157.238 15,605 175,292 148,317 (33,750) (33.750) (36.320) (18.145) 141,542 111,997 40.357 43.687 181,899 155,684 2.917.926 2.762.242 33 0 2.9 VILLAGE OF DEERFIELD, ILLINOIS Water Fund 1 Schedule of Operating Expenses - Budget and Actual Year Ended April 30, 1993 Budget Actual Administration Salaries S 85,020 93,921 Overtime 3,230 3,354 Employee Benefits 12,890 12,283 Professional Services 25,200 Travel, Training and Dues 1,100. 1,105 Printing and Advertising 700 976 Communications 9,400 9,235 Contractual Services 2,100 5,583 Insurance 45,500 44,091 Motor Vehicle Maintenance 1,400 2,125 Miscellaneous 1,000 1,565 Supplies 1,000 2,243 Motor Vehicle Supplies 400 422 Occupancy 18,000 20,000 Apparel 1,800 1,844 Repairs and Maintenance 2.100 1.173 Total Administration 210.840 199.920 Operations Distribution Salaries 99,420 66,496 Overtime 10,400 11,500 Employee Benefits 9,170 8,628 Professional Services 6,000 2,930 Printing and Advertising 500 Contractual Services 8,600 7,189 Utility Services 76,400 65,901 Motor Vehicle Maintenance 2,500 5,665 Repairs and Maintenance 3,000 1,959 Miscellaneous 600 Purchase of Water 1,610,000 1,593,688 Supplies 500 774 Motor Vehicle Supplies 1,000 998 Chlorine 1,000 1,043 Materials 3,000 2,757 Equipment 9,000 8,826 Total 1,841,090 1,778,354 Less Nonoperating Items Fixed Assets Capitalized 976 976 Total Distribution 1,840.114 1.777378 77 1 Total ' Less Nonoperating Items Fixed Assets Capitalized Total Maintenance - Main and Fire Hydrants VILLAGE OF DEERFIELD, ILLINOIS 730 Overtime 1,100 Water Fund ' Employee Benefits 'Schedule of Operating Expenses - Budget and Actual (Cont.) 200 Travel, Training and Dues y Year Ended April 30, 1993 Printing and Advertising i. Contractual Services Budget Actual �\ Operations (Cont.) Maintenance - Main and Fire Hydrants 300 Supplies 1,000 Salaries $ 56,820 77,233 100 Overtime 20,800 22,182 Part-Time 8,320 2,662 Employee Benefits 10,030 10,527 Contractual Services 43,400 37,584 Motor Vehicle Maintenance Repairs and Maintenance 9,000 10,500 9,402 7,357 Equipment Rental 11000 110 Miscellaneous 2,900 Motor Vehicle Supplies 3,200 3,470 Small Tools and Equipment 300 133 Aggregates 14,000 12,177 Materials 43.000 40.917 Total ' Less Nonoperating Items Fixed Assets Capitalized Total Maintenance - Main and Fire Hydrants 223,270 223,754 �IdI�Gj A 50,680 Maintenance - Meters Salaries 730 Overtime 1,100 Part -Time ' Employee Benefits 1,000 Professional Services 200 Travel, Training and Dues 500 Printing and Advertising 3,000 Contractual Services 700 Motor Vehicle Maintenance 100 Repairs and Maintenance Miscellaneous 300 Supplies 1,000 Motor Vehicle Supplies ' Materials 100 Small Tools and Equipment 16.500 Equipment Total 78 223,270 223,754 �IdI�Gj A 50,680 37,080 730 45 1,100 1,043 7,370 4,862 1,000 630 200 500 1,000 3,000 2,147 700 50 100 300 38 1,000 639 5,000 3,089 100 37 16.500 13.176 89,280 62,836 VILLAGE OF DEERFIELD, ILLINOIS Water Fund Schedule of Operating Expenses - Budget and Actual (Cont.) Year Ended April 30, 1993 Operations (Cont.) Maintenance - Meters (Cont.) Less Nonoperating Items Fixed Assets Capitalized Total Maintenance - Meters Total Expenses 79 Budget A $ 14.169 14.169 75.111 48.667 2.348.395 12480 1 1 1 1 1 i VILLAGE OF DEERFIELD, ILLINOIS Water Fund Schedule of. Fixed Assets and Depreciation Year Ended April 30, 1993 Assets Balances Balances May 1 Additions Retirements April 30 Water System $ 3,015,265 3,015,265 Equipment and Vehicles 483.069 16.085 499.154 3.498.334 16.085 3.514,419 Net Asset Value 2.2® 80 Accumulated Depreciation Balances Balances May i Additions Retirements April 30 Water System 817,298 63,997 8811295 Equipment and Vehicles 393.892 26,508 420.400 1.211,190 90.505 1.301.695 Net Asset Value 2.2® 80 VILLAGE OF DEERFIELD, ILLINOIS Sewerage Fund Balance Sheet April 30, 1993 ASSETS Current Assets Cash and Investments Receivables Accounts - Billed - Unbilled Accrued Interest Other Inventories Investment in Joint Venture - HELP Fixed Assets Cost Accumulated Depreciation Total Assets LIABILITIES AND FUND EQUITY Current Liabilities Accounts Payable Accrued Payroll Compensated Absences Payable Due to Other Funds Total Liabilities Fund Equity Contributed Capital Retained Earnings - Unreserved Total Fund Equity _ Total Liabilities and Fund Equity 1993 1992 $ 1,403,226 1,389,286 64,323 70,138 206,621 197,344 20,842 17,903 7,441 8,786 5,186 5,358 63.501 52.583 1.771.140 1.741.398 10,942,349 10,942,349 (5.478.355) (5.215.649) 5.463.994 5326.700 7.235.134 7.468.098 83,573 86,114 15,982 112,797 106,494 17.994 196.370 226.584 5,724,553 5,860,504 1.314.211 1.381.010 7.038.764 7,241,514 7.235.134 7.468.098 .See accompanying Notes to Financial Statements. 81 1 1 VILLAGE OF DEERFIELD, ILLINOIS Sewerage Fund Statement of Revenues, Expenses, and Changes in Retained Earnings - Unreserved - Budget and Actual Year Ended April 30, 1993 1 82 1993 1992 Budget Actual Actual $ 1,150,000 Operating Revenues 1,149,930 Charges for Services 48,316 Sewer Charges 10,000 Surcharges - Construction 10,927 Miscellaneous 15,373 Permits and Fees 20,000 Penalties 20,545 Other 1,260,972 Total Operating Revenues Operating Expenses Excluding Depreciation Administration Operations Treatment Plant Cleaning and Maintenance Construction Total Operating Expenses Excluding Depreciation Operating (Loss) before Depreciation Depreciation Operating (Loss) Nonoperating Revenues Interest Income Income from Joint Venture (Loss) before Operating Transfers Operating Transfers (Out) Vehicle Replacement Fund Net (Loss) Other Changes in Retained Earnings - Unreserved Depreciation that Reduces Contributed Capital Net (Decrease) in Retained Earnings - Unreserved Retained Earnings - Unreserved May 1 April 30 See accompanying Notes to the Financial Statements. 1 82 1993 1992 Budget Actual Actual $ 1,150,000 1,153,033 1,149,930 48,316 48,184 10,000 22,995 10,927 14,000 15,373 14,578 20,000 21,255 20,545 1,194,000 1,260,972 1,244,164 220,430 210,808 219,060 845,270 778,234 856,693 126,800 117,741 120,530 231,800 163,130 136.111 1,424,300 1,269,913 1,332,394 (230,300) (8,941) (88,230) 68,500 262,706 338.272 (298,800) (271,647) (426,502) 55,000 90,959 105,573 10,918 11.806 55,000 101.877 117,379 (243,800) (169,770) (309,123) (32,980) (32,980) (35,930) (1 (202,750) (345,053) 135,951 164,838 (66,799) (180,215) 1,381.010 1561.225 113 ,2� 131 81 VILLAGE OF DEERFIELD, ILLINOIS Sewerage Fund Schedule of Operating Expenses - Budget and Actual Year Ended April 30, 1993 Budget Actual Administration Salaries a 85,020 92,580 Overtime 2,600 3,464 Employee Benefits 12,880 12,279 Professional Services 200 Travel, Training and Dues 600 159 Printing and Advertising 100 31 Communications 3,430 3,085 Insurance 86,000 65,383 Motor Vehicle Maintenance 900 2,817 Repairs and Maintenance 2,400 1,181 Miscellaneous 500 764 Supplies 1,700 2,091 Motor Vehicle Supplies 1,000 917 Occupancy 18,000 20,000 Apparel 1,500 1,424 Contractual Services 3.600 4.633 Total Administration 220,430 210.808 Operations Treatment Plant Salaries 337,480 344,650 Overtime 11,440 14,254 Part-Time 5,460 3,450 Employee Benefits 51,370 46,052 Professional Services 12,000 6,916 Travel, Training and Dues 1,850 1,405 Printing and Advertising 500 31 Communications 7,670 7,271 Contractual Services 34,500 30,930 Utility Services 179,500 187,607 Motor Vehicle Maintenance 3,500 4,956 Repairs and Maintenance 118,500 76,481 Equipment Rental 4,500 1,730 Supplies 17,500 19,332 Motor Vehicle Supplies 8,000 7,472 Chlorine 8,000 6,654 Aggregates 5,000. 2,732 Materials 6,000 8,004 Small Tools and Equipment 1,000 1,037 Apparel 1,700 2,019 Equipment 26,800 1,854 Miscellaneous 3,000 3397 Total Treatment Plant 845.270 778.234 E3193 f' VILLAGE OF DEERFIELD, ILLINOIS Sewerage Fund Schedule of Operating Expenses - Budget and Actual (Cont.) �I Year Ended April 30, 1993 1 1 1 11 1 1 Operations (Cont.) Cleaning and Maintenance Salaries Overtime Part -Time Employee Benefits Contractual Services Motor Vehicle Maintenance Repairs and Maintenance Equipment Rental Miscellaneous Supplies Motor Vehicle Supplies Aggregates Materials Equipment Small Tools and Equipment Total Cleaning and Maintenance 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 i 1 • MS •� S 61,760 67,453 5,050 3,875 2,910 2,600 11,580 8,942 5,000 8,350 4,500 6,651 5,000 2;735 1,000 776 2,000 859 15,300 10,063 1,400 622 2,000 1,022 6,000 2,348 3,000 1,281 300 164 126.800 117.741 77,920 78,698 830 771 1,600 1,113 12,850 11,116 5,000 2,220 6,200 17,186 103,200 32,838 1,000 LM 1,000 86 . 2,000 2,604 6,000 2,097 14,000 200 13,111 231.800 163.130 1.424.300 1.269.913 VILLAGE OF DEERFIELD, ILLINOIS Sewerage Fund Schedule of Fixed Assets and Depreciation Year Ended April 30, 1993 Assets Balances Balances May 1 Additions Retirements April 30 Sewer System $ 10,654,792 10,654,792 Equipment and Vehicles 287,557 287,557 10,942,349 10,942,349 Net Asset Value 5,463,994 85 Accumulated Depreciation Balances Balances May 1 Additions Retirements April 30 Sewer System 4,956,594 253,688 5,210,282 Equipment and Vehicles 259,055 9,018 268,073 5,215,649 262,706 5,478,355 Net Asset Value 5,463,994 85 1 1 VILLAGE OF DEERFIELD, ILLINOIS Refuse Fund Balance Sheet April 30, 1993 ASSETS Current Assets Cash and Investments Receivables Property Taxes Accounts - Billed - Unbilled Other Due from Other Funds Total Assets LIABILITIES AND FUND EQUITY Current Liabilities Accounts Payable Due to Other Funds Total Liabilities Fund Equity Retained Earnings - Unreserved Total Liabilities and Fund Equity See accompanying Notes to Financial Statements. 86 1993 1992 104,739 135,583 10.007 80.609 114,746 216,192 682.991 666.055 797.737 882,247 80,966 S 647,554 651,794 21,824 28,000 123,646 119,012 3,551 2,475 1.162 797.737 882.247 104,739 135,583 10.007 80.609 114,746 216,192 682.991 666.055 797.737 882,247 VILLAGE OF DEERFIELD, ILLINOIS Refuse Fund Statement of Revenues, Expenses, and Changes in Retained Earnings - Unreserved - Budget and Actual Year Ended April 30, 1993 1993 1992 Budget Actual Actual Operating Revenues Charges for Services Refuse Billing $ 743,500 752,995 749,981 - Miscellaneous 500 1.540 979 Total Operating Revenues 744.000 754.535 750.960 Operating Expenses Administration 69,420 69,183 51,650 Operations Contractual Services 1.543.420 1.391.247 1.467.040 Total Operating Expenses 1.612.840 1.460.430 1.518.690 Operating (Loss) _(868.840) (705.895) (767.730) Nonoperating Revenues Interest Income 5,000 8,034 5,879 Property Taxes 725.000 726.797 730.324 730.000 734.831 736.203 Income (Loss) before Operating Transfers _(138.840) 28.936 (31.527) Operating Transfers In (Out) General Fund 100,000 Vehicle Replacement Fund (12.000) (12.000) (12.850) (12.000) (12.000) 87.150 Net Income (Loss) (150.8401 16,936 55,623 Retained Earnings - Unreserved May 1 666.055 610.432 April 30 682.991 666.055 See accompanying Notes to Financial Statements. 87 1 1 1 1 1 1 1 r VILLAGE OF DEERFIELD, ILLINOIS Commuter Parking Lot Fund Balance Sheet April 30, 1993 ASSETS Current Assets Cash and Investments Receivables - Accrued Interest Fixed Assets Cost Accumulated Depreciation Total Assets LIABILITIES AND FUND EQUITY Current Liabilities Accounts Payable Accrued Payroll 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 Financial Statements. 88 1993 1992 $ 468,941 451,298 9.087 5.609 478.028 456.907 697,308 691,458 _(427.735) (396.8911 269:573 294.567 747.601 7510474 2,098 1,384 222 50.000 2.098 51.606 255,667 271,132 489.836 428.736 745.503 699.868 747.601 751.474 VILLAGE OF DEERFIELD, ILLINOIS Commuter Parking Lot Fund Statement of Revenues, Expenses, and Changes in Retained Earnings - Unreserved - Budget and Actual Year Ended April 30, 1993 Operating Revenues Parking Lot Fees Operating Expenses Excluding Depreciation Operations Operating Income before Depreciation Depreciation Operating Income Nonoperating Revenues Interest Income Income before Operating Transfers Operating Transfers (Out) Street and Bridge Fund Net Income Other Changes in Retained Earnings - Unreserved Depreciation that Reduces Contributed Capital Net Increase in Retained Earnings - Unreserved Retained Earnings - Unreserved May 1 April 30 Sx S' $ 142,000 155,577 139,663 r 42.230 . 42.502 80.212 r 99,770 113,075 59,451 30.844 30.697 99,770 82,231 28,754 20.000 33.404 21.805 119,770 115,635 50,559 ._(70.000) (70.000) (50.0001 �49h770 45,635 559 15,465 27.027 61,100 27,586 428.736 401,150 489,826 4� 2� 6 See accompanying Notes to Financial Statements. 89 1 90 VILLAGE OF DEERFIELD, ILLINOIS Commuter Parkin g Lot Fund Schedule of Operating Expenses - Budget and Actual Year Ended April 30, 1993 Budget Actual Operations Parking Lots - Village and Federal Funds Salaries $ 4,890 4,665 Benefits 640 613 Insurance 290 300 Utility Service 4,000 40209 _ Repairs and Maintenance 1,500 2,246 Property Rentals Supplies 7,500 550 7,440 Aggregates 200 Materials 800 499 Contractual 7,680 6,265 Equipment 500 704 Total Parking Lots - Village and Federal Funds 28.550 26.941 Parking Lots - Village Construction Salaries 4,790 4,507 Benefits 620 597 Insurance 340 299 Utility Services 4,000 4,191 Repairs and Maintenance 500 2,361 Supplies 400 Aggregates 100 Materials 1,000 510 Contractual 7,680 .6,265 Equipment 100 2.681 Total 19,530 21,411 Less Nonoperating Items Fixed Assets Capitalized 5.850 5.850 Total Parking Lots - Village Construction 13.680 15.561 Total Operating Expenses 42.230 42,502 1 90 VILLAGE OF DEERFIELD, ILLINOIS Commuter Parking Lot Fund Schedule of Fixed Assets and Depreciation Year Ended April 30, 1993 Assets Balances Balances May '1 Additions Retirements April IL Land $ 77,500 77,500 Parking Lot Improvements _ 613.958 5.850 619.808 691.458 5.850 697.308 Accumulated Depreciation Balances Balances May 1 Additions Retirements April 30 Parking Lot 296.891 30.844 427.735 Net Asset Value 2 5 91 1 1 L I INTERNAL SERVICE FUNDS Garage Fund To account for all activity necessary to maintain the efficient and safe operation of Village vehicles and equipment. The Garage is operated and maintained by the Village of Deerfield and the various departments are billed according to the services rendered. Insurance Fund ' To account for monies set aside for the payment of medical, dental, and life insurance premiums for Village employees. The revenue is derived from charges to the various funds. 1 1 1 I 1 1 1 1 1 1 L i 1 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS In Service Funds Internal Se ce un Combining Balance Sheet April 30, 1993 ASSETS Current Assets Cash and Investments Receivables - Accounts Inventories Total Assets LIABILITIES AND FUND EQUITY Current Liabilities Accounts Payable Accrued Payroll Compensated Absences Payable Claims Payable Due to Other Funds Total Liabilities Fund Equity Retained Earnings - Unreserved Total Liabilities and Fund Equity Totals Garage Insurance. 1993 1992 185,136 185,136 $ 153 153 584 59,637 59,637 60,484 59,790 185.136 244.926 61.068 3,863 46,919 50,782 3,555 2,526 33,634 33,634 31,390 112,000 112,000 49.713 49313 76,626 87,210 158,919 2461129 114,097 (27,420) 26,217 (1,203) (53.029) See accompanying Notes to the Financial Statements. 59,790 185,136 244,926 61.068 M VILLAGE OF DEERFIELD, ILLINOIS Internal Service Funds Combining Statement of Revenues, Expenses, and Changes in Retained Earnings - Unreserved Year Ended April 30, 1993 Totals Garaee Insurance 1993 1992 Operating Revenues Charges for Services Billings Operating Expenses Administration Operations Total Operating Expenses Operating Income Nonoperating Revenues Interest Income Net Income Retained Earnings - Unreserved May 1 April 30 See accompanying Notes to the Financial Statements. F �c �.: 713,744 713,744 176.254 176,254 194,490 176.254 713.744 889,998 194,490 25,609 19,129 44,738 13,999 7.088 7,088 25,609 26,217 51,826 13,999 (53.029) - (53 029)_ 67 028) (27.420) 26.217 (1.203) (53.029) 93 1 1 1 1 1 1 1 1 1 i 1 1 1 1 1 1 1 1 1 VK,LAGE OF DEERFIELD, ULMOLS Internal Service Funds Combining Statement of Cash Flows Year Ended April 30,1993 Cash Flows from Operating Activities Operating Income Adjustments to Reconcile Operating Income to Net Cash Provided by Operating Activities Changes in Assets and Liabilities Receivables Inventories Accounts Payable Accrued Payroll Compensated Absences Payable Claims Payable Due to Other Funds Cash Flows from Noncapital Financing Activities Cash Flows from Capital and Related Financing Activities Cash Flows from Investing Activities Purchase of Investment Securities Proceeds from Sale and Maturities of Investment Securities Interest on Investments Net Increase in Cash and Cash Equivalents Cash and Cash Equivalents May 1 April 30 Cash and Investments Cash and Cash Equivalents Investments YOM S 25,609 19,129 44,738 131999 431 431 (464) 847 847 (3,179) 308 46,919 47,227 (3,112) (2,526) (2,526) 264 2,244 2,244 3,304 112,000 112,000 (,26.9131 X26.913) (10.812) 178.048 178.048 See accompanying Notes to the Financial Statements. 94 (193,252) (193,252) 69,510 69,510 7.088 7.088 1116.654). (,116.654) - 61,394 61,394 - - 61.394 61394 61,394 61,394 123.742 123.742 185.136 185.136 VILLAGE OF DEERFIELD, ILLINOIS Garage Fund Statement of Revenues, Expenses, and Changes in Retained Earnings - Budget and Actual Year Ended April 30, 1993 Operating Revenues Charges for Services Billings Operating Expenses Operations Net Income Retained Earnings May 1 April 30 EFEumm- $ 208,500 201,863 208,489 188.850 176.254 194.490 .j l.6& 25,609 13,999 (53.0291 27 420 See accompanying Notes to the Financial Statements. 95 (67.0281 02 l 1 1 1 i i G', VILLAGE OF DEERFIELD, ILLINOIS Garage Fund Schedule of Expenses - Budget and Actual Year Ended April 30, 1993 Buffet Actu Operations Public Works Department Salaries $ 89,930 90,824 Overtime 7,280 8,742 Employee Benefits 13,940 12,198 Apparel 500 428 ' Travel, Training and Dues Printing and Advertising 700 400 17 Insurance 7,200 6,188 Miscellaneous 200 72 Professional Services 50 Contractual Services 50 Utility Services 1,300 1,614 Repairs and Maintenance 4,000 3,949 ' Supplies 59,200 48,695 Motor Vehicle Supplies 300 283 Equipment 300 300 Communications 1,400 453 Materials 600 1,058 Small Tools and Equipment 1,500 1,433 Total Operating Expenses 188.850 176.254 1 1 1 i i G', VILLAGE OF DEERFIELD, ILLINOIS Insurance Fund Statement of Revenues, Expenses, and Changes in Retained Earnings Year Ended April 30, 1993 Operating Revenues Charges for Services Billings Operating Expenses Administration Insurance Operating Income Nonoperating Revenues Interest Income Net Income Retained Earnings May 1 April 30 $ 732,873 713.744 19,129 7.088 26,217 See accompanying Notes to the Financial Statements. 97 1 1 I 1 TRUST AND AGENCY FUNDS I ExRendable Trust Fund ' Corporate Purpose Bond Series of 1987 Redemption Fund - to account for investments held in escrow to pay future principal and interest requirements on the Corporate Purpose Bond Series of 1987. Pension Trust Fund ' Police Pension Fund - to account for the accumulation of resources to pay pension costs. Resources are contributed by police force members at rates fixed by state statutes and by the government through an annual property tax levy. Agency Funds ' Deposit Fund - to account for monies on deposit with the village which are being held on a temporary basis. ' Deferred Compensation Plan Fund - to account for salary deductions held by the government for certain employees. The deferred compensation is available to employees upon termination or retirement. ' Deerfield Cemetery Association Fund - to account for the monies on deposit with the Village which are being held for the Deerfield Cemetery Association. I 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 i 1 1 1 1 CA ww O z ww bi .a O h V E N vw as v ern � u O p d „s N 01 M O %0 P 00 W a bo Qo Off � •a Q � M u .~- F uQ 00 P E vw as v ern amavOO� r N �! !n 'r 00 00 %0 P 00 P a Off � pOp A MOn N w " u .~- � m O O .� .� N w a x W m O ° w' w H k. w w o W w m M °%v0 O �o NfNhOON e"O G. w h � M %0 M 0% in a0 M O r+ W h M M Wi C� "° ff o0 Ow O O c 0 En a a.a fA a c F 00 u WL c r-WU��xa a Z;aao zU Q W a`cccm oci C a h N w' 'w � W vi rt fi h Ou a a a a a a jp ww C e .-. ... .r N " W aA c U I I y O ff ° N ff' M .^r a ° N N 00 N N C_ C M M M O N N fHH w " C N b �O r1 w 7 = w 0 cF a Q a o u ,°. 1.0 c w " " a E c o r- � a WuM.. H 00 P E r N w " u U � " a x cy m Ir V W ° w' w k. w w o W w m ° e"O G. w w z C. m m W Y •r W W 0 w O c 0 En a a.a fA a c F 00 u WL c r-WU��xa a Z;aao zU Q W a`cccm oci ua Q a a w' 00 P VILLAGE OF DEERFIELD, ILLINOIS Corporate Purpose Bond Series of 1987 Statement of Revenues, Expenditures, and Changes in Fund Balance Year Ended April 30, 1993 Revenues Interest Expenditures Interest Excess of Revenues over Expenditures Fund Balance May 1 April 30 $ 843,000 843.000 See accompanying Notes to the Financial Statements. 99 1 1 1 1 1 1 1 1 1 n 1 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS Police Pension Fund Statement of Revenues, Expenses, and Changes in Fund Balance - Budget and Actual Year Ended April 30, 1993 1993 1992 Budget Actual Actual Operating Revenues Taxes Property Taxes Replacement Taxes Contributions Employee Contributions Interest Total Revenues Operating Expenses Benefits and Refunds Pension Payments Separation Refunds Miscellaneous Filing Fee Total Operating Expenses Net Income Fund Balance May 1 April 30 $ 175,000 175,405 161,101 5,500 5,382 5,281 155,000 160,894 139,756 750,000 789,704 809,346 1.085.500 1,131,385 1.115.484 275,000 234,872 216,190 20,000 12,438 1.000 2,530 1.019 296.000 237.402 229.647 789.500 893,983 885,837 See accompanying Notes to the Financial Statements. 100 8,380,701 7.494,864 9,274,684 8,3800701 VILLAGE OF DEERFIELD, ILLINOIS Agency Funds Combining Statement of Changes in Assets and Liabilities Year Ended April 30, 1993 Balances Balances May 1 Additions Deductions April 30 All Funds 4,852 285 2,566 2 ,571 ASSETS 346,804 286 ,552 60,252 286 ,552 Cash and Investments $ 358,806 61950 70,W 295,170 Receivables 1378,453 287,098 49,621 1,615,930 Accrued Interest 149 298,990 149 1916660 Other 560 560 Assets Held by Agents for Deferred Compensation Plan (Market Value) 1,378,453 287,098 49,621 1,615,930 Total Assets 1,737M 299,608 120,356 1916 660 �:31aII1:&i Accounts Payable 4,852 285 2,566 2 ,571 Deposits Payable 346,804 286 ,552 60,252 286 ,552 Due to Other Funds 7,299 11,607 7,299 11,607 Due to Participants 1378,453 287,098 49,621 1,615,930 Total Liabilities 1737 408 298,990 119,738 1916660 Deposit Fund ASSETS Cash and Investments 336,165 6,332 47,327 295,170 Accounts Payable 4,491 2,205 2,286 Deposits Payable 324,375 37,823 286 ,552 Due to Other Funds 7,299 6,332 7,299 6,332 Total Liabilities 336,165 6,332 47,327 295,170 Deferred Compensation Plan Fund ASSETS Assets Held by Agents for Deferred Plan (Market Value) 1,378,453 287 098 49,621 1,615,930 LIABILITIES Due to Participants 1,378,453 287A98 49,621 1,615,930 101 1 ' VELLAGE OF DEERFIELD, ILLINOIS Agency Funds Combining Statement of Changes in Assets and Liabilities (Cont.) ' Year Ended AprU 30, 1993 Balances Balances ' May 1 Additions Deductions Amil 30 Deerfield Cemetery Association Fund ASSETS Cash and Investments $ 22,641 618 23,259 ' Receivables Accrued Interest 149 149 Other 5560 5560 ' Total Assets 22,790 6,178 23,408 5,560 LIARRHIFS 1 Accounts Payable 361 285 361 285 Deposits Payable 22,429 22,429 Due to Other Funds 5,275 5.275 ' Total Liabilities 22,790 5560 22,790 5,560 1 1 1 1 1 i 1 1 See accompanying Notes to the Financial Statements. 102 1 i 1 GENERAL FIXED ASSETS ACCOUNT GROUP Fixed assets used in operations are not accounted for in governmental funds. General fixed assets include all fixed assets not accounted for in Proprietary Funds or in Trust Funds. 1 1 1 f 1 1 1 1 i 1 } VILLAGE OF DEERFIELD, ILLINOIS General Fixed Assets Account Group Schedule of General Fixed Assets - by Source April 30, 1993 l 1 1 1 1 1 103 GENERAL FIXED ASSETS Land S 3,522,331 Buildings and Improvements 4,873,494 Vehicles 842,747 Equipment 1.814.029 11.052,601 INVESTMENT IN GENERAL FIXED ASSETS General Revenues 5,051,592 Tax Incremental Financing Bonds General Obligation Bonds 4,101,009 1,500,000 ` Installment Contracts 400.000 t11.052,601 l 1 1 1 1 1 103 h ` ,a .b 'v a `• e0 O V-4 00 � 0 �o N O� M N �Qp 00 tt � V-4 00 M N 00 �O O\ M in l- � O O 00 W) It cl ll en N O h M O [� � N N .-+ 6q a V Q% N O w O � 3 O 1 i i f 1 i 1 1 1 1 a O .0 a O w C a � z o J � H Q G O W Q w wLwr�. yV N � � Q a 0 04 � w 2 M Q w � ri a � •�, V-4 00 � 0 �o N O� M N �Qp 00 tt � V-4 00 M N 00 �O O\ M in l- � O O 00 W) It cl ll en N O h M O [� � N N .-+ 6q a V Q% N O w O � 3 O 1 i i f 1 i 1 1 1 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS General Fixed Assets Account Group Schedule of Changes in General Fixed Assets - by Function Year Ended April 30, 1993 �I Balances Function May 1 Additions Retirements Balances April 30 General Government $ 3,079,570 158,115 17,734 3,219,951 Public Safety 2,875,208 74,210 39,310 2,910,108 Public Works 4,903.324 162.825 143,607 4.922,542 10.858.102 _395.150 200.651 11.052.601 1 1 1 I t GENERAL LONG -TERM DEBT ACCOUNT GROUP To account for the noncurrent portion of the government's Bond Issue liabilities. r 1 1 a r ° O r- n.i a+ z a+ A J �D p Q F w bo Q OW � Q " F Q � O a C7 ri rl c� b� S C7 cn Q W r- Q � N rA h OIN �D i F OW � h O� pax° ri rl c� O ° a4 h s N C7�' aw O° v, 0 0 U N o � a � � r•1 U h gg .b Va ow W U Q � rA Q� OIN OW pax° Oa c� a Z �a �A o � a a� C7 1 ' VILLAGE OF DEERFIELD, ILLINOIS Illinois Municipal Retirement Fund Required Supplementary Information Analysis of Funding Progress April 30, 1993 (6) Unfunded (Assets in (1) Excess of) Net (4) Pension Assets Unfunded Benefit Available (Assets in Obligation for Excess of) as a Benefits (2) (Lower of Pension (3) Percentage Pension Benefit (5) Annual Percentage of Covered Calendar Cost or Benefit Funded Obligation Covered Payroll Year Market) Obligation (1) + (2) (2) - (1) Payroll (4) + (5) r+ 1987 $ 1,851,900 3,229,435 57.34% 1,377,535 292929114 60.10% 1988 1,488,727 3,137,943 47.44 1,649,216 2,529,121 65.21 1989 1,770,910 3,489,507 50.75 1,718,597 2,636,443 65.19 1990 2,320,255 4,4649450 51.97 2,144,195 2,800,891 76.55 1991 2,916,035 4,709,444 61.92 1,793,409 2,990,934 59.96 i' 1992 3,782,246 5,482,073 68.99 1,699,827 3,115,096 54.57 (During the implementation transition period all information required is presented for as many years as is available.) Analysis of the dollar amounts of net assets available for benefits, pension benefit obligation, and unfunded pension benefit obligation in isolation can be misleading. Expressing the net assets available for benefits as a percentage of the pension benefit obligation provides one indication of funding status on a going- concern basis. Analysis of this percentage over time indicates whether the system is becoming financially stronger or weaker. Generally, the greater this percentage, the stronger the PERS. Trends in unfunded pension benefit obligation and annual covered payroll are both affected by inflation. Expressing the unfunded pension benefit obligation as a percentage of annual covered payroll approximately adjusts for the effects of inflation and aids analysis of progress made in accumulating sufficient assets to pay benefits when due. Generally, the smaller the percentage, the stronger the PERS. 107 VILLAGE OF DEERFIELD, ILLINOIS Police Pension Fund Required Supplementary Information Analysis of Funding Progress April 30, 1993 1988 S 5,055,040 4,290,531 118.00 (6) 1,237,594 (62.00)% 1989 5,692,830 Unfunded 118.00 (869,278) 1,380,114 (63.00) (Assets in (1) 5,242,623 122.55 (1,182,440) Excess of) Net 1991 7,494,864 (4) Pension Assets 1,565,933 (75.72) Unfunded Benefit Available 119.43 (1,363,296) (Assets in Obligation for 9,274,684 8,394,887 Excess of) as a Benefits (2) (3) Pension (5) Percentage (Lower of Pension Percentage Benefit Annual of Covered Fiscal Cost or Benefit Funded Obligation Covered Payroll Year Market) Obligation (1) ± (2) (2)-(1) Payroll (4) + a) 1988 S 5,055,040 4,290,531 118.00 (764,509) 1,237,594 (62.00)% 1989 5,692,830 4,823,277 118.00 (869,278) 1,380,114 (63.00) 1990 6,425,063 5,242,623 122.55 (1,182,440) 1,460,008 (80.99) 1991 7,494,864 6,309,081 118.79 (1,185,783) 1,565,933 (75.72) 1992 8,380,701 7,017,405 119.43 (1,363,296) 1,552,844 (87.79) 1993 9,274,684 8,394,887 110.48 (879,797) 1,767,665 (49.77) Note: Current -year changes in the actuarial assumptions, benefit provisions, and methodology re- sulted in an increase in the pension benefit obligation (PBO) of $734,498, as, compared to the amount of the PBO calculated, irrespective of such changes. (During the implementation transition period all information required is presented for as many years as is available.) Analysis of the dollar amounts of net assets available for benefits, pension benefit obligation, and unfunded pension benefit obligation in isolation can be misleading. Expressing the net assets available for benefits as a percentage of the pension benefit obligation provides one indication of funding status on a going- concern basis. Analysis of this percentage- over time indicates whether the system is becoming financially stronger or weaker. Generally, the greater this percentage, the stronger the PERS. Trends in unfunded pension benefit obligation and annual covered payroll are both affected by inflation. Expressing the unfunded pension benefit obligation as a percentage of annual covered payroll approximately adjusts for the effects of inflation and aids analysis of progress made in accumulating sufficient assets to pay benefits when due. Generally, the smaller the percentage, the stronger the PERS. 108 1 IN/A - not applicable 1 109 VILLAGE OF DEERFIELD, ILLINOIS Illinois Municipal Retirement Fund Required Supplementary Information Revenues by Source April 30, 1993 Employer ' Contributions as a Revenues by Source Percentage Calendar Employee Employer Investment of Covered Year Contributions Contributions Income Totals Payroll 1983 $ 78,651 114,848 N/A 193,499 8.32% 1984 82,899 127,571 N/A 210,470 8.30 1985 89,372 151,116 N/A 240,488 8.30 1986 95,745 167,152 N/A 262,897 8.27 1987 103,137 179,472 N/A 282,609 8.21 1988 113,907 204,352 N/A 318,259 8.08 1 1989 118,539 266,280 N/A 384,819 10.10 1990 126,040 329,945 N/A 455,985 11.78 1991 134,592 372,669 N/A 507,261 12.46 1992 140,232 399,043 N/A 539,275 12.81 IN/A - not applicable 1 109 VILLAGE OF DEERFIELD, ILLINOIS Police Pension Fund Required Supplementary Information Revenues by Source and Expenses by Type April 30, 1993 Employer Contributions as a Revenues by Source Percentage Fiscal Employee Employer Investment of Covered Year Contributions Contributions Income Totals Payroll 1984 $ 83,022 140,265 265,078 488,365 14.56 % 1985 86,623 156,125 315,417 558,165 14.53 1986 97,525 173,723 361,378 632,626 14.52 1987 99,923 180,434 458,868 739,225 15.08 1988 107,902 150,024 473,397 731,323 12.08 1989 83,619 155,430 488,746 727,795 11.26 1990 127,777 160,461 562,558 850,796 11.00 1991 136,638 155,284 772,839 1,064,761 9.92 1992 139,756 166,382 809,346 1,115,484 10.71 1993 160,894 180,787 789,704 1,131,385 10.23 Expenses by Type Fiscal Administrative Year Benefits Expenses Refunds Totals 1984 $ 37,455 75 37,530 1985 65,912 25 10,873 76,810 1986 66,736 937 1,137 68,810 1987 83,885 99 17,050 101,034 1988 87,859 53 87,912 1989 88,660 1,620 90,280 1990 117,720 568 118,288 1991 154,844 585 155,429 1992 216,190 1,019 12,438 229,647 1993 234,872 2,530 237,402 110 t The Village of Deerfield is a member of the Municipal Insurance Cooperative Agency. Property, automobile liability, general liability, and workers' compensation are provided under the Agency. The Village of Deerfield is also a member of the High -Level Excess Liability Pool Agency. Excess liability coverage is provided under this agency. 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS Schedule of Insurance in Force April 30, 1993 Insureds Description of Coverage Amount of Coverage Village of Deerfield Workers' Compensation Statutory/ $30,000,000 Village of Deerfield Comprehensive Automobile Liability Bodily Injury and Property 1,000,000 Village of Deerfield General Liability 1,000,000 Village of Deerfield Blanket Building and Contents 30,000,000 Village of Deerfield Boiler and Machinery 10,000 Public Officials Blanket Bond Coverage 10,000/ 1,000,000 ' Village of Deerfield Excess Coverage 5,000,000 The Village of Deerfield is a member of the Municipal Insurance Cooperative Agency. Property, automobile liability, general liability, and workers' compensation are provided under the Agency. The Village of Deerfield is also a member of the High -Level Excess Liability Pool Agency. Excess liability coverage is provided under this agency. 1 1 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS Long -Term Debt Requirements Corporate Purpose Bond Series of 1982 -A April 30, 1993 Date of Issue Date of Maturity Authorized Issue Actual Issue Denomination of Bonds Interest Rates Principal Maturity Date Interest Dates Payable at December 1, 1982 December 1, 1993 $500,000 500,000 5,000 7.0% -8.5% December 1 June 1 and December 1 American Fletcher National Bank, Indianapolis CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS Tax Levy Bond Tax Levy Interest Due on Year Numbers Principal Interest Totals June 1 Amount Dec. 1 Amount 1992 091 -100 $ 50.000 4.250 54.250 1993 ®2.125 1993 212 112 1 1 1 1 I 1 1 I ] 1 1 1 Ij 1 1 VILLAGE OF DEERFIELD, ILLINOIS Long -Term Debt Requirements Corporate Purpose Bond Series of 1986 April 30, 1993 Date of Issue Date of Maturity Authorized Issue Actual Issue Denomination of Bonds Interest Rates Principal Maturity Date Interest Dates Payable at May 1, 1986 January 1, 2005 $11,000,000 11,000,000 5,000 6.4% - 7.75% January 1 January 1 and July 1 American National Bank & Trust Co. Chicago, Illinois CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS Tax Levy Bond Tax Levy Interest Due on Year Numbers Principal Interest Totals July 1 Amount Jan. 1 Amount 1992 0409 -0511 $ .515,000 608,513 1,123,513 1993 304,256 1994 304,257 1993 0512 -0620 545,000 568,600 1,113,600 1994 284,300 1995 284,300 1994 0621 -0736 580,000 529,905 1,109,905 1995 264,952 1996 264,953 1995 0737 -0860 620,000 492,785 1,112,785 1996 246,392 1997 246,393 1996 0861 -0992 660,000 452,485 1,112,485 1997 226,242 1998 226,243 1997 0993 -1132 700,000 408,925 1,108,925 1998 204,462 1999 204,463 1998 1133 -1282 750,000 362,025 1,112,025 1999 181,012 2000 181,013 1999 1283 -1442 800,000 311,025 1,111,025 2000 .155,512 2001 155,513 2000 1443 -1613 855,000 255,825 1,110,825 2001 127,912 2002 127,913 2001 1614 -1796 915,000 198,113 1,113,113 2002 99,056 2003 99,057 2002 1797 -1991 975,000 136,350 1,111,350 2003 68,175 2004 68,175 2003 1992 - 2200 1,045,000 70,538 1,115,538 2004 35,269 2005 35,269 8,960,000 4,395,089 13,355.089 113 2497,540 2,197,54.99 VILLAGE OF DEERFIELD, ILLINOIS Long -Term Debt Requirements Corporate Purpose Bond Series of 1987 April 30, 1993 Date of Issue Date of Maturity Authorized Issue Actual Issue Denomination of Bonds Interest Rates Interest Dates Payable at October 8, 1987 October 8, 2002 $10,000,000 10,000,000 5,000 8.4% - 8.5% October 8 and April 8 Marine National Bank CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS Tax ,Levy Bond Tax Levy Interest Due on Year Numbers Principal Interest Totals April Amount Oct.8 Amount 1991 421,500 421,500 1993 421,500 1992 843,000 843,000 1994 421,500 1994 421,500 1993 843,000 843,000 1995 421,500 1995 421,500 1994 843,000 843,000 1996 421,500 1996 421,500 1995 843,000 843,000 1997 421,500 1997 421,500 1996. 843,000 843,000 1998 421,500 1998 421,500 1997 843,000 843,000 1999 421,500 1999 421,500 1998 843,000 843,000 2000 421,500 2000 421,500 1999 0001 -1400 $ 7,000,000 843,000 7,843,000 2001 421,500 2001 421,500 2000 1401 -2000 3.000.000 255,000 3.255.000 2002 127.500 2002 127.500 10,000,000 7,420,500 17,420.500 114 33 499 500500 3,9211000 u IVILLAGE OF DEERFIELD, ILLINOIS Tax Long -Term Debt Requirements Corporate Obligation Bond Series of 1988 April 30, 1993 Date of Issue November 1, 1988 Date of Maturity January 1, 2004 Authorized Issue $3,000,000 Denomination of Bonds 5,000 Interest Rates 6.50 %, 6.60 %, 6.70% - Principal Interest 6.75 %, 6.80% 6.90 %, and 8.0% July 1 Interest Dates January 1 - July 1 Amount Payable at American National Bank and Trust Company of Chicago CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS Tax Levy Bond Tax Levy Interest Due on Year Numbers Principal Interest Totals July 1 Amount Jan. 1 Amount 1992 106 -135 $ "',�150,000 ))) 169,462 319,462 1993 84,731 1994 84,731 1993 136 -170 9_x175,000 sy 157,462 332,462 1994 78,731 1995 78,731 1994 171 -205 sr 175,000 146,088 321,088 1995 73,044 1996 73,044 ' 1995 206 -245 s)200,000 134,712 334,712 1996 67,356 1997 67,356 1996 246 -285 r200,000 121,512 321,512 1997 60,756 1998 60,756 1997 286 -330 59 225,000 108,112 333,112 1998 54,056 1999 54,056 1998 331 -375 &:225,000 92,926 317,926 1999 46,463 2000 46,463 1999 376 -425 ci 250,000 77,626 327,626 2000 38,813 2001 38,813 2000 426 -480 3g 275,000 60,376 335,376 2001 30,188 2002 30,188 2001 481 -540 1300,000 41,400 341,400 2002 20,700 2003 20,700 2002 541 -600 c� 300.000 20.700 320.700 2003 10.350 2004 10.350 2,475.000 1.130.376 3.605.376 55 565,188 1 115 VILLAGE OF DEERFIELD, ILLINOIS Long -Term Debt Requirements General Obligation Bond Series of 1991 April 30, 1993 Date of Issue Date of Maturity Authorized Issue Denomination of Bonds Interest Rates Interest Dates Principal Maturity Date Payable at July 1, 1991 January 1, 1997 $1,500,000 5,000 5.20-5.80% January 1 - July 1 January 1 American National Bank and Trust Company of Chicago CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS 'Tax Levy Bond Tax Levy Interest Due on Year Numbers Principal Interest Totals July 1 Amount Jan. 1 Amount 1992 061 -120 $ 99-300,000 67,500 367,500 1993 33,750 1994 33,750 1993 121 -180 5 5'300,000 51,300 351,300 1994 25,650 1995 25,650 1994 181 -240 5 C 300,000 34,500 334,500. 1995 17,250 1996 17,250 1995 241 -300 `� 7 300.000 17.400 317.400 1996 8,700 1997 8.700 1,200,000 170.700 1,370.700 85,350 85,350 • The government abates the tax levy on this bond issue annually. The debt is being retired with trans- . fer from Tax Incremental Finance District 2 Fund. 116 1 1 1 i 1 I 11 1 VILLAGE OF DEERFIELD, ILLINOIS Long -Term Debt Requirements Corporate Purpose Bond Series of 1982 April 30, 1993 Date of Issue Date of Maturity Authorized Issue Denomination of Bonds Interest Rates Principal Maturity Date Interest Dates Payable at October 1, 1982 December 1, 1994 $500,000 5,000 9.60% - 10.25% December 1 June 1 and December 1 The Northern Trust Company CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS Tax Levy Bond Tax Levy Interest Due on Year Numbers Principal Interest Totals June 1 Amount Dec. 1 Amount 1992 071 -085 $ 75,000 14,250 89,250 1993 7,125 1993 7,125 1993 086 -100 75.000 7.200 82.200 1994 3.600 1994 3.600 150,000 21,450 171,450 10,725 The government abates the tax levy on this bond issue annually. The debt is being retired with trans- fers from the Tax Incremental Finance District 1 Fund. 117 i 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 0 z � a N Lii dd y�j � F4 ♦r ' 5 ��a n tC�� pp�p of cif tn�f N n 8 o .. yM M I. N Vf PV1 � oO amt V1 p � ab� � N . h OCL M en �p .fir a O 0 a u z V �p � ZFyi z cl 00 N ti H Ov. u L u e V ti A � O 0 a u z V �p � ZFyi z cl 00 N a v a tra. O 'D o J Ltl w� O 'o .►. o cn OR h '+ N ri OI � W j X R g r+ N 4 k A 4 9 M N a fn N vi ei H a 0 u u gg W 7 ri u ^' C N C C c O u C7 Q z 12 S e y O y � (� a N 9 a U u i e D a 0 u u gg W 7 ri u ^' C N C C c O u C7 Q z 12 S 1 1 VILLAGE OF DEERFIELD, ILLINOIS IProperty Tax Assessed Valuations, Rates, Extensions, and Collections Last Ten Fiscal Years April 30, 1993 1 1 L 1 1 1 1 1 1 F, 1 1 1 1 11 (See Following Page) F7 O U .ti ° c� o a o Q O E. M u 00 000 0 00 a O C O O C C C C a 00 000 o 40 v�N N hM • � c� o � iN'� � N � O O O C O C �••i �5 .4 0 00 0000 �••� a H N " O� r•1 O ILI OMB O F M � 0.4, § rl 0 000 0 Doc k � N V 9k R, O O C O 0 0 0 c r•l O O 0 0 O 6 0 C 00 M 00 14 0 000 0 ooc 2 8F§ 6 � %-R O O O O O O O C H y a aqi.� �A•g °°�' -gam u`�� ►�C��W :.av�i � �Aa4a° H N � 7,1 §' d 0 W) to b 2 8F§ 6 � %-R O O O O O O O C H y a aqi.� �A•g °°�' -gam u`�� ►�C��W :.av�i � �Aa4a° H N � 7,1 §' d 0 �1 b 0 8 i9 w � � d o � U S q � a w a � �1 VILLAGE OF DEERFIELD, ILLINOIS Assessed and Estimated Actual Value of Taxable Property Last Ten Fiscal Years April 30, 1993 Data Source Office of the County Clerk 121 Ratio of Real Property Total Assessed Tax Equalized Estimated Value to Levy Assessed Actual Total Estimated Year Value Value Actual Value 1983 $ 235,931,537 708,000,000 33.3 1984 245,838,523 738,000,000 33.3 1985 249,350,557 748,000,000 33.3 1986 279,386,218 839,000,000 33.3 1987 314,987,029 945,000,000 33.3 1988 377,208,775 1,131,000,000 33.3 1989 428,039,204 1,284,000,000 33.3 1990 489,019,552 1,467,000,000 33.3 1991 522,438,968 1,567,000,000 33.3 1992 547,603,297 1,643,000,000 33.3 Data Source Office of the County Clerk 121 1 1 i 1 1 1 1 1 1 i 1 1 1 1 1 i 1 1 1 0 w w w D Lr. w r� J h a H � ycc! O O O O O O O N N• O O P W)W)� V, O riNO 00000 O O NN.+o C 0000 C C C NN.Q O O MOW N b do O O N<3N0 O tt FM A § ~� C O C O C O O N N O O co . -�COCC O O NNNO O r+0000 G C NNlV O O N.N -�%OO. N y sb9 7 O h[�fnN N fV !V C O IQ: � O � M N O C O O L O O N N N O O .+0000 O O NNfV G O C O 0 s Ny F �g a Q0 V 0 0 9 t m t �_ R O O As ri % 4 r •r 'i. V1 v g AO�"ci °�Q y- s % A C- �° Asap„ e�Qa � �AAr� c � E 8 8`� o vti z F F >3Ax�A T � Z C O 0 s Ny F �g a Q0 V 0 0 9 a� u ro a o� �a y rn "a C cA Z ld p; N 0 Q� U 0 e► N � .+ co c O * O w n .Ni O y� N g N a 8 k o � o a M cn 8 co S Op o fppYp, O cn �O pcl .r a tiry. N r o vi v .. ol M C4 Q S 00 N ry M P V01 O Q O p C H N � V V U V i 'O G• � W ;P. •3 oe 0 oc � (� C O 6 z z p; N 0 Q� U 0 1 1 1 VILLAGE OF DEERFIELD, ILLINOIS Schedule of Direct and Overlapping Bonded Debt April 30, 1993 Percentage of Debt (1) Applicable (3) t Gross to •• Government's Governmental Unit Bonded Debt Government Share of Debt li ' * - Determined by ratio of assessed value of property subject to taxation in overlapping unit to value of property subject to taxation. Amount in column (2) multiplied by amount in column (1). Data Sources (1) Office of the County Clerk (2) Office of the County Clerk 124 of Deerfield $ 22,835,000 100.000% 22,835,000 'Village Metropolitan Sanitary District 1,112,985,000 0.101 1,124,115 Lake County and Forest Preserve 164,439,327 0.186 305,857 ' Cook County Cook County Forest Preserve 1,201,688,341 2,650,000 0.099 0.099 1,189,671 2,623 North Shore Sanitary District 27,360,000 0.025 6,840 Deerfield Park District 1,653,243 97.052 1,604,505 'Northbrook Park District 26,853,000 0.306 82,170 Deerfield School District #109 4,175,000 71.417 2,981,660 Highland Park Elementary #108 4,150,000 6.201 257,342 High School #113 2,395,000 27.340 654,793 tTownship Junior College #532 17,850,000 4.950 883,575 Oakton Community College #535 10,125,000 0.249 25,211 Lake County Special Service Area #5 600.000 39.750 238.500 Total Gross Debt 2,599,758,911 32,191,862 Less Debt Service and Expendable Trust Funds Amount Available - Village of Deerfield 11.495.116 11.495.116 Total Gross Debt Less Available Amount 2,588,263,795 20.696.746 li ' * - Determined by ratio of assessed value of property subject to taxation in overlapping unit to value of property subject to taxation. Amount in column (2) multiplied by amount in column (1). Data Sources (1) Office of the County Clerk (2) Office of the County Clerk 124 VILLAGE OF DEERFIELD, ILLINOIS Schedule of Legal Debt Margin April 30, 1993 The government is a home rule municipality. Chapter 65, Section 5/8 -5 -1 of the Illinois Compiled Statutes governs computation of the legal debt margin. "The General Assembly may limit by law the amount and require referendum approval of debt to be incurred by home rule municipalities, payable from ad valorem property tax receipts, only in excess of the following percentages of the assessed value of its taxable property... (2) if its population is more than 25,000 and less than 500,000 an aggregate of one per cent:... indebtedness which is outstanding on the effective date (July 1, 1971) of this constitution or which is thereafter approved by referendum ... shall not be included in the foregoing percentage amounts." To date the General Assembly has set no limits for home rule municipalities. Illustrative Computation of Debt Margin if Village Were Not a Home Rule Municipality Village of Deerfield is a home rule municipality and as such has no debt limitations. If, however, the Village were a non -home rule village its available debt limit would be as follows: Equalized Assessed Valuation - 1992 Legal Debt Limit - 8.625 Amount of Debt Applicable to Limit Corporate Purpose Bond Series 1982 Corporate Purpose Bond Series 1982 -A Corporate Purpose Bond Series 1986 Corporate Purpose Bond Series 1987 General Obligation Bond Series 1988 General Obligation Bond Series 1991 Total 5 150,000 50,000 8,960,000 10,000,000 2,475,000 1.200.000 22,835,000 Available Funds (11.495.116) Legal Debt Margin 5547.603.297 47,230,783 The Village has available funds in the Debt Service and Expendable Trust Funds in the amount of $11,495,116. 125 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 A 0 tk .0 0 4 Q r� V 1., G N Lzl A C7 � W o Eo 5 9s3< $ 3 � a � a .. a b� C a � co r, 0 � 00 M r4 N � N N � h N t� yp Val N 4'1 4 p�p C p0 n N M p Q ri r a H V� o S A 'o c c u u C7 � Su S O Qcb sr- 099 V� o S A VILLAGE OF DEERFIELD, ILLINOIS Demographic Statistics Last Ten Fiscal Years April 30, 1993 Data Sources (1) 1984 -1993 were derived from data from the Department of Commerce and Community Affairs (2) Bureau of the Census (3) Percentage of people over 25 years of age or over with 4 or more years of College education. Northeastern Illinois Planning Commission (4) Enrollment figures derived from combined enrollment of District 109 (grade school), and Dis- trict 113 (high school) (5) Unemployment figures based on 1/4 of Lake County figures 127 (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 went Percentage 1984 17,500 $ 45,000 35.4 50.7 3,788 1.9 % 1985 17,500 45,400 36.1 50.8 3,703 2.0 1986 17,500 46,100 36.5 51.0 3,715 1.7 1987 17,500 47,500 36.8 51.1 3,602 1.3 1988 17,500 48,100 37.2 51.3 3,276 1.1 1989 17,500 50,900 37.4 51.5 3,238 0.9 1990 17,500 53,600 37.5 51.8 3,106 1.0 1991 17,327 55,000 37.7 48.8 3,277 1.0 1992 17,327 71,966 36.3 48.3 3,251 1.2 1993 17,327 70,046 36.3 58.8 3,410 1.3 Data Sources (1) 1984 -1993 were derived from data from the Department of Commerce and Community Affairs (2) Bureau of the Census (3) Percentage of people over 25 years of age or over with 4 or more years of College education. Northeastern Illinois Planning Commission (4) Enrollment figures derived from combined enrollment of District 109 (grade school), and Dis- trict 113 (high school) (5) Unemployment figures based on 1/4 of Lake County figures 127 ' VILLAGE OF DEERFIELD, ILLINOIS Property Value, Construction, and Bank Deposits Last Ten Fiscal Years ' April 30, 1993 (1) (1) Commercial Residential (3) Construction Construction (2) Total ' Fiscal Number Number Bank Property Year of Units Value of Units Value Deposits Value Data Sources ' (1) Construction figures - Village of Deerfield, Building and Zoning Department ' (2) Bank Deposits were based on commercial bank deposits (3) Estimated historical cost data provided by Township's Assessors Office 1 128 ' 1984 52 S 12,146,201 46 5,131,160 63,877,000 708,000,000 1985 101 34,504,614 50 6,552,552 64,750,000 738,000,000 1986 135 37,746,399 90 11,318,142 130,155,000 748,000,000 1987 79 44,287,589 86 8,089,179 141,241,000 839,000,000 ' 1988 110 21,705,751 51 5,489,656 149,182,000 945,000,000 1989 222 75,592,000 72 12,463,000 163,472,790 1,131,000,000 1990 150 33,113,366 77 12,085,690 187,961,000 1,284,000,000 ' 1991 89 16,908,426 21 3,836,605 230,405,569 1,467,000,000 1992 497 10,639,343 256 8,922,854 114,301,809 1,567,000,000 1993 114 14,582,113 49 8,575,000 339,627,000 1,643,000,000 Data Sources ' (1) Construction figures - Village of Deerfield, Building and Zoning Department ' (2) Bank Deposits were based on commercial bank deposits (3) Estimated historical cost data provided by Township's Assessors Office 1 128 VILLAGE OF DEERFIELD, ILLINOIS Principal Taxpayers April 30, 1993 Data Source Office of the County Clerk 129 Percentage 1992 of Total Assessed Assessed Taxpayers Type of Business Valuation Valuation Stein and Company Lake Cook Office Center S 23,323,451 4.26% Matas Corporation Corporate 500 Center 18,054,674 3.30 Baxter International Office Buildings 17,177,500 3.14 Arbor Lake Center Office Building 13,746,199 2.51 Travenol Labs Office Buildings 110879,903 2.17 Deerfield - Saunders Parkway North Office Joint Venture Building 10,803,250 1.97 VMC, Inc. Deerbrook Shopping Center 10,053,212 1.84 Lake - Cook Plaza Shopping Center 8,709,759 1.59 Embassy Suites Hotel 6,963,340 1.27 Tollway North Tollway North Office Park 6934.689 1.27 127.645.977 11.12 Data Source Office of the County Clerk 129 1 1 VILLAGE OF DEERFIELD, ILLINOIS Miscellaneous i is Statistics s April 30, 1993 1 1 Date of Incorporation 1903 Form of Government Manager /Council 1 Geographic Location North Suburban Population 1 1960 11,748 1970 18,876 1 1980 1990 17,430 17,327 ' Municipal Services & Facilities ' Number of Full -Time Employees 97 Miles of Streets 70 ' Miles of Alleys 4 Miles of Sewers 140 ' Building Inspection Number of Permits Issued in fiscal year 1993 163 ' Fire Protection Number of Fireman and Officers 32 1 1 Number of Stations 1 1 130 VILLAGE OF DEERFIELD, ILLINOIS Miscellaneous Statistics (Cont.) April 30, 1993 Police Protection Number of Stations Number of Policemen and Officers Library Services Number of Branch Libraries Number of Books Recreation Facilities Number of Parks and Playgrounds Park Area in Acres Municipal Water Utility Population Serviced Average Daily Pumpage Miles of Water Mains Data Source Village Records 131 1 37 1 130,635 20 288 5,797 2,380,000 gals. 70