Village CAFR For Year Ended April 30, 1992.,-, C — 7 ; •
A1N1N UAL ` for the year ended
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FINANCIAL App il 309 1992
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COMPREHENSIVE
ANNUAL
FINANCIAL. REPORT
FOR THE
FISCAL YEAR ENDED
APRIL 30, 1992
PREPARED BY
GEORGE J. VALENTINE,
FINANCE DIRECTOR
VILLAGE OF DEERFIELD, ILLINOIS,
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TABLE OF CONTENTS
PAGE
INTRODUCTORY SECTION
Principal Officials i
Organization Chart
Certificate of Achievement for Excellence in
Financial Reporting
Letter of Transmittal iv -xi
FINANCIAL SECTION
INDEPENDENT AUDITOR'S REPORT
1 -2
GENERAL PURPOSE FINANCIAL STATEMENTS
Combined Balance Sheet - All Fund Types
and Account Groups
3
Combined Statement of Revenues, Expenditures,
and Changes in Fund Balances - All Governmental
and Fiduciary (Expendable Trust) Fund Types
4
Combined Statement of Revenues, Expenditures, and
Changes in Fund Balances - Budget and Actual -
General, Special Revenue, and Debt Service Fund
Types
5
Combined Statement of Revenues, Expenses, and
Changes in Retained Earnings - Unreserved /Fund Balances - All
Proprietary and Fiduciary (Pension Trust) Fund Types
6
Combined Statement of Cash Flows -
All Proprietary Fund Types
7
Notes to the Financial Statements
8 -48
TABLE OF CONTENTS (CONT.)
PAGE
FINANCIAL SECTION (CONT.)
COMBINING. INDIVIDUAL FUND. AND ACCOUNT GROUP
STATEMENTS AND SCHEDULES
GOVERNMENTAL FUND TYPES
GENERAL FUND
General Fund
Financial Statements
Balance Sheet 49
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual 50
Supplemental Schedules
Schedule of Revenues - Budget and Actual 51
Schedule of Expenditures - Budget and Actual 52 -54
SPECIAL REVENUE FUNDS
All Funds
Financial Statements
Combining Balance Sheet
55
Combining Statement of Revenues, Expenditures,
and Changes in Fund Balances
56
Municipal Audit Fund
Financial Statements
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual
57
Emergency Services /Disaster Fund
Financial Statements
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual
58
Youth Bound Fund
Financial Statements
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual
59
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TABLE OF CONTENTS (CONT.)
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
60
61
62
63 -66
67
68
69
TABLE OF CONTENTS (CONT.)
AGE
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 70
DEBT SERVICE FUND
Debt Service Fund
Financial Statements
Balance Sheet 71
Statement of Revenues, Expenditures,
and Changes in Fund Balance - Budget and Actual 72
Supplemental Schedules
Schedule of Expenditures - Budget and Actual 73
CAPITAL PROJECTS FUNDS
All Funds
Financial Statements
Combining Balance Sheet 74
Combining Statement of Revenues, Expenditures,
and Changes in Fund Balances 75
PROPRIETARY FUND TYPES
ENTERPRISE FUNDS
All Funds
Financial Statements
Combining Balance Sheet 76
Combining Statement of Revenues, Expenses, and
Changes in Retained Earnings - Unreserved 77
Combining Statement of Cash Flows 78
TABLE OF CONTENTS (CONT.)
PAGE
FINANCIAL SECTION (CONT.)
PROPRIETARY FUND TYPES (CONT.)
ENTERPRISE FUNDS (CONT.)
Water Fund
Financial Statements
Balance Sheet 79
Statement of Revenues, Expenses, and Changes in
Retained Earnings - Unreserved - Budget and Actual 80
Supplemental Schedules
Schedule of Operating Expenses - Budget and Actual 81 -82
Schedule of Fixed Assets and Depreciation 83
Sewerage Fund
Financial Statements
Balance Sheet 84
Statement of Revenues, Expenses, and Changes in
Retained Earnings - Unreserved - Budget and Actual 85
Supplemental Schedules
Schedule of Operating Expenses - Budget and Actual 86 -88
Schedule of Fixed Assets and Depreciation 89
Refuse Fund
Financial Statements
Balance Sheet
90
Statement of Revenues,
Expenses,
and Changes in
Retained Earnings -
Unreserved
- Budget and Actual
91
Commuter Parking Lot Fund
Financial Statements
Balance Sheet
92
Statement of Revenues,
Expenses,
and Changes in
Retained Earnings -
Unreserved
- Budget and Actual
93
Supplemental Schedules
Schedule of Operating
Expenses -
Budget and Actual
94
Schedule of Fixed Assets
and Depreciation
95
TABLE OF CONTENTS (CONT.)
PAGE
FINANCIAL SECTION (CONT.)
PROPRIETARY FUND TYPES (CONT.)
INTERNAL SERVICE FUND
Garage Fund
Financial Statements
Balance Sheet 96
Statement of Revenues, Expenses, and
Changes in Retained Earnings - Budget and Actual 97
Statement of Cash Flows 98
Supplemental Schedules
Schedule of Operating Expenses - Budget and Actual 99
FIDUCIARY FUND TYPES
TRUST AND AGENCY FUNDS
All Funds
Financial Statements
Combining Balance Sheet 100
Statement of Revenues, Expenditures, and Changes
in Fund Balance (Expendable Trust Fund) 101
Statement of Revenues, Expenses, and Changes in
Fund Balance - Budget and Actual (Pension Trust Fund) 102
Combining Statement of Changes in Assets and Liabilities
(Agency Funds) 103 -104
ACCOUNT GROUPS
GENERAL FIXED ASSETS ACCOUNT GROUP
Supplemental Schedules
Schedule of General Fixed Assets - by Source 105
Schedule of General Fixed Assets - by Function 106
Schedule of Changes in General Fixed Assets -
by Function 107
GENERAL LONG -TERM DEBT ACCOUNT GROUP
Supplemental Schedules
Schedule of General Long -Term Debt 108
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TABLE OF CONTENTS (CONT.)
PAGE
FINANCIAL SECTION (CONT.)
ISUPPLEMENTAL DAT
Required Supplementary Information
Analysis of Funding Progress
Illinois Municipal Retirement Fund 109
Police Pension Fund 110
Revenues by Source
' Illinois Municipal Retirement Fund 111
Revenues by Source and Expenses by Type
Police Pension Fund 112
Schedule of Insurance in Force
General Governmental Revenues by Source -
113
Long -Term Debt Requirements
122
General Governmental Expenditures by
Sewerage Improvement Bond Series
of 1973
114
Sewerage Treatment Facilities
Bond Series of 1973
115
Corporate Purpose Bond Series
of
1982
116
Corporate Purpose Bond.Series
of
1982 -A
117
Corporate Purpose Bond Series
of
1986
118
Corporate Purpose Bond Series
of
1987
119
' General Obligation Bond Series of 1988 120
General Obligation Bond Series of 1991 121
' STATISTICAL SECTION
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General Governmental Revenues by Source -
'
Last Ten Fiscal Years
122
General Governmental Expenditures by
Function - Last Ten Fiscal Years
123
Property Tax Assessed Valuations, Rates, Extensions,
and Collections - Last Ten Fiscal Years
124
Assessed and Estimated Actual Value of Taxable
Property - Last Ten Fiscal Years
125
Property Tax Rates - Direct and Overlapping Governments -
Last Ten Fiscal Years
126
Ratio of Net General Obligation Bonded Debt to Assessed
Value and Net General Obligation Bonded Debt Per
Capita - Last Ten Fiscal Years
127
Schedule of Direct and Overlapping Bonded Debt
128
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TABLE OF CONTENTS (CONT.)
PAGE
STATISTICAL SECTION (CONT.)
Schedule of Legal Debt Margin 129
Ratio of Annual Debt Service Expenditures for General
Obligation Bonded Debt to Total General Governmental
Expenditures - Last Ten Fiscal Years 130
Demographic Statistics - Last Ten Fiscal Years 131
Property Value, Construction, and Bank Deposits -
Last Ten Fiscal Years 132
Principal Taxpayers 133
Miscellaneous Statistics 134 -135
Introductory Section
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Harriet E. Rosenthal
James L. Marovitz
Marvin W. Ehlers
VILLAGE OF DEERFIELD, ILLINOIS
PRINCIPAL OFFICIALS
APRIL 30, 1992
LEGISLATIVE
VILLAGE BOARD OF TRUSTEES
Bernard Forrest, Mayor
Robert D. Franz, Clerk
ADMINISTRATIVE
Robert D. Franz, Village Manager
FINANCE DEPARTMENT
George J. Valentine
Director of Finance /Treasurer
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Edwin B. Seidman
Vernon E. Swanson
Michael Swartz
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Certificate of
� Achievement
for Excellence
1 in Financial
� Reporting
Presented to
� Village of Deerfield,
Illinois
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For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
April 309 1991
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.
� wo
s President
o� • C
Executive Director
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Financial Section
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INDEPENDENT ,.AUDITOR'S. OPINION
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Wolf &Company
Certified Public Accountants
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INDEPENDENT AUDITOR'S REPORT
The Honorable 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, 1992, as listed in
the accompanying table of contents. These financial statements are the
responsibility of the Village of Deerfield, Illinois' management. Our
responsibility is to express an opinion on these financial statements based on
our audit.
We conducted our audit in accordance with generally accepted auditing standards.
Those standards require that we plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free of material misstate-
ment. An audit includes examining, on a test basis, evidence supporting the
amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by
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, 1992, 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, 1992, 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
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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.
June 22, 1992
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GENERAL PURPOSE FINANCIAL STATEMENTS
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VILLAGE OF DEERFIELD, ILLINOIS
ALL FUND TYPES AND ACCOUNT GROUPS
COMBINED BALANCE SHEET
APRIL 30, 1992
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(See Following Page)
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Ln
VILLAGE OF DEERFIELD, ILLINOIS
ALL PROPRIETARY AND FIDUCIARY (PENSION TRUST) FUND TYPES
COMBINED STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN RETAINED EARNINGS - UNRESERVED /FUND BALANCE
FOR THE YEAR ENDED APRIL 30, 1992
Operating Revenues
Taxes
Charges for Services
Contributions
Interest
Miscellaneous
Total Operating Revenues
Operating Expenses
Administration
Operations
Depreciation
Benefits and Refunds
Miscellaneous
Total Operating Expenses
Operating Income (Loss)
Nonoperating Revenues
Interest Income
Income from Joint Venture
Property Taxes
Net Income (Loss) before
Operating Transfers
Operating Transfers In
Operating Transfers (Out)
Net Income (Loss)
Other Changes in Retained Earnings -
Unreserved /Fund Balance
Depreciation that Reduces Contributed
Capital
Net Increase in Retained Earnings- Unreserved/
Fund Balance
Retained Earnings - Unreserved/
Fund Balances
May 1 - as Restated
April 30
Proprietary Fiduciary
Fund Tunes Fund Type Totals
Internal Pension (Memorandum Only)
Enterprise Service Trust 1992 1991
166,382 166,382 155,284
$ 4,331,324 208,489 4,539,813 4,129,926
139,756 139,756 136,638
809,346 809,346 772,839
83.824 83.824 106.524
4.415.148 208.489 1.115.484 5.739.121 5.301.211
456,922
456,922
465,337
4,665,200 194,490
467,431
4,859,690
467,431
4,201,311
362,919
'
228,628 228,628
154,844
1.019 1.019
585
5,589,553 194490
229,647 6,013,690
5 184 996
(1.174.405) 13.999 .885.837 (274.569) 116.215
285,712 285,712 254,269
16,589 16,589 16,001
730,324 730.324 724,843
1:032,625 - - 1,032,625 995,113
(141.780) 13.999 .885.837 758.056 1.111.328
100,000 100,000 100,000
(135.100) (135.100) (113.530)
(35.100) - - (35.100) (13.530)
(176,880) 13,999 885,837 722,956 1,097,798
235.552 - - 235.552 186.301
58,672 13,999 885,837 958,508 1,284,099
_5,335,049 (67.028) 7.494.864 12.762.885 11.478.786
See accompanying Notes to the Financial Statements.
5.393.721 (53.029) 8.380.701 13.721.393 12.762.885
2
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VILLAGE OF DEERFIELD, ILLINOIS
ALL PROPRIETARY FUND TYPES
COMBINED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED APRIL 30, 1992
Cash Flows from Noncapital Financing Activities
Operating Transfers In
Operating Transfers (Out)
Other Nonoperating Revenues
Cash Flows from Capital and Related
Financing Activities
Fixed Assets Purchased
Cash Flows from Investing Activities
Purchase of Investment Securities
Proceeds from Sale and Maturities
of Investment Securities
Interest on Investments
Net (Decrease) in Cash and
Cash Equivalents
Cash and Cash Equivalents
May 1
April 30
Cash and Investments
Cash and Cash Equivalents
Investments
100,000 100,000
(135,100) (135,100)
730.324 730.324
695.224 - 695.224
(16.361) - (16.361)
(4,549,390)
(4,549,390)
2,467,478 2,467,478
285.712 285.712
(1.796.200) - (1.796.200)
(1,673,118)
(1,673,118)
2.014.444 - 2.014.444
341.326 - 341.326
341,326 341,326
3,578.614 3.578.614
3.919.940 - 3.919.940
Noncash Investing Capital and Financing Activities
The Enterprise Funds recorded an income on joint venture of $16,589.
See accompanying Notes to the Financial Statements.
7
Proprietary
Fund Types
Totals
Internal
(Memorandum
Enterprise
Service
Only)
Cash Flows from Operating Activities
Operating Income (Loss)
$(1,174,405)
13,999
(1,160,406)
Adjustments to Reconcile Operating Income to
Net Cash Provided by Operating Activities
Depreciation
467,431
467,431
Changes in Assets and Liabilities
Receivables
(5,262)
(464)
(5,726)
Due from Other Funds
17,618
17,618
Inventories
1,382
(3,179)
(1,797)
Investment in Joint Venture
(16,589)
(16,589)
Accounts-Payable
52,659
(3,112)
49,547
Accrued Payroll
5,115
264
5,379
Compensated Absences Payable
48,008
3,304
51,312
Due to Other Funds
48.262
(10.812)
37.450
(555.781)
-
(555.781)
Cash Flows from Noncapital Financing Activities
Operating Transfers In
Operating Transfers (Out)
Other Nonoperating Revenues
Cash Flows from Capital and Related
Financing Activities
Fixed Assets Purchased
Cash Flows from Investing Activities
Purchase of Investment Securities
Proceeds from Sale and Maturities
of Investment Securities
Interest on Investments
Net (Decrease) in Cash and
Cash Equivalents
Cash and Cash Equivalents
May 1
April 30
Cash and Investments
Cash and Cash Equivalents
Investments
100,000 100,000
(135,100) (135,100)
730.324 730.324
695.224 - 695.224
(16.361) - (16.361)
(4,549,390)
(4,549,390)
2,467,478 2,467,478
285.712 285.712
(1.796.200) - (1.796.200)
(1,673,118)
(1,673,118)
2.014.444 - 2.014.444
341.326 - 341.326
341,326 341,326
3,578.614 3.578.614
3.919.940 - 3.919.940
Noncash Investing Capital and Financing Activities
The Enterprise Funds recorded an income on joint venture of $16,589.
See accompanying Notes to the Financial Statements.
7
1.
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1992
Summary of Significant Accounting Policies
The financial statements of the Village of Deerfield, Illinois
(government), have been prepared in conformity with generally accepted
accounting principles (GAAP) as applied to government units. The
Governmental Accounting Standards Board (GASB) is the accepted standard -
setting body for establishing governmental accounting and financial
reporting principles. The more significant of the government's accounting
policies are described below.
A. Reporting Entity
In evaluating how to define the government, for financial reporting
purposes, management has considered all potential component units. The
decision to include a potential component unit in the reporting entity
was made by applying the criteria set forth in GAAP. The basic - -but
not the only -- criterion for including a potential component unit within
the reporting entity is the governing body's ability to exercise
oversight responsibility. The most significant manifestation of this
ability is financial interdependency. Other manifestations of the
ability to exercise oversight responsibility include, but are not
limited to, the selection of governing authority, the designation of
management, the ability to significantly influence operations, and
accountability for fiscal matters. A second criterion used in
evaluating potential component units is the scope of public service.
Application of this criterion involves considering whether the activity
is conducted within the geographic boundaries of the government and is
generally available to its citizens. A third criterion used to
evaluate potential component units for inclusion or exclusion from the
reporting entity is the existence of special financing relationships,
regardless of whether the government is able to exercise oversight
responsibilities. Based upon the application of these criteria, the
following is a brief review of each potential component unit addressed
in defining the government's reporting entity.
Included within the Reporting Entity:
Police Pension Employees Retirement System
The government's police employees participate in the Police Pension
Employees Retirement System ( PPERS). PPERS functions for the benefit
of these employees and is governed by a five - member pension board. Two
members appointed by the government's Mayor, one elected pension
beneficiary, and two elected police employees constitute the pension
board. The government and PPERS participants are obligated to fund all
PPERS costs based upon actuarial valuations. The state of Illinois
8
1
IVILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1992
1
Summary of Significant Accounting Policies (Cont.)
A. Reporting Entity (Cont.)
tIncluded within the Reporting Entity (Cont.):
is authorized to establish benefit levels and the government is
' authorized to approve the actuarial assumptions used in the
determination of contribution levels.
' Excluded from the Reporting Entity:
West Deerfield Township
Highland Park Mosquito Abatement District
' Deerfield Park District
Deerfield Bannockburn Fire Protection District
t 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
1 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.
1
1 9
1.
1
VILLAGE OF DEERFIELD, ILLINOIS '
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1992
Summary of Significant Accounting Policies (Cont.)
A.
B.
Reporting Entity (Cont.)
Excluded from The Reporting Entity (Cont.):
Solid Waste Agency of Lake County ( SWALCO)
SWALCO is a municipal corporation empowered to plan, finance, construct
and operate a solid waste disposal system to serve its member
municipalities. Management consists of a Board of Directors comprised
of one appointed representative from each member. The government does
not exercise any control over the activities of the Agency beyond its
representation on the Board of Directors. SWALCO is reported as a
proprietary joint venture.
Fund Accounting
The government uses funds and account groups to report on its financial
position and the results of its operations. Fund accounting is
designed to demonstrate legal compliance and to- aid financial
management by segregating transactions related to certain 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).
10
1
IVILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30,1992
1. Summary of Significant Accounting Policies (Cont.)
' B. Fund Accounting (Cont.)
Fiduciary funds are used to account for assets held on behalf of
outside parties, including other governments, or on behalf of other
funds within the government. When these assets are held under the
terms of a formal trust agreement, either a pension trust fund, or an
expendable trust fund is used. The term "expendable" refers to whether
or not the government is under an obligation to maintain the trust
principal. Agency funds generally are used to account for assets that
the government holds on behalf of others as their agent.
C. Basis of Accounting
The accounting and financial reporting treatment applied to a fund is
determined by its measurement focus. All ,governmental funds and
expendable trust funds are accounted for using a current financial
resources measurement focus. With this measurement focus, only current
assets and current liabilities generally - are .included on the
balance sheet. Operating statements of .these funds present increases
(i.e., revenues and other financing sources) and decreases (i.e.,
' expenditures and other financing uses) in net current assets.
All proprietary funds and pension trust funds are accounted for on a
' flow of economic resources measurement focus. With this measurement
focus, all assets and all liabilities associated with the operation of
.these funds are included on the balance sheet. Fund equity (i.e., net
' when amounts have been accumulated in the debt service fund for
payments to be made early in the following year.
1 11
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.
tThe
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.
1 11
1.
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1992
Summary of Significant Accounting Policies (Cont.)
C. Basis of Accounting (Cont.)
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.
D. Budgets
Budgets are adopted on a basis consistent with generally accepted
accounting principles. Annual appropriated budgets are adopted for all
of the General, Special Revenue, Debt Service, Enterprise, Internal
Service and Pension Trust Funds. All annual appropriations lapse at
fiscal year end.
Encumbrances represent commitments related to unperformed contracts for
goods or services. Encumbrance accounting - -under which purchase
orders, contracts and other commitments for the expenditure of
resources are recorded to reserve that portion of the applicable
appropriation - -is utilized in the governmental funds. Material
encumbrances outstanding at year end, if any, are reported as
reservations of fund balances and do not constitute expenditures or
liabilities because the commitments will be honored during the
subsequent year.
12
1
1
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1992
1. Summary of Significant Accounting Policies (Cont.)
IE. 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.
tInvestments
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
1
13
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.
'
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.
1
13
1.
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1992
Summary of Significant Accounting Policies (Cont.)
I. Fixed Assets
General fixed assets are not capitalized in the funds used to acquire
or construct them. Instead, capital acquisition and construction are
reflected as expenditures in governmental funds, and the related assets
are reported in the general fixed assets account group. All purchased
fixed assets are valued at cost where historical records are available
and at an estimated historical cost where no historical records exist.
Donated fixed assets are valued at their estimated fair market value on
the date received.
The costs of normal maintenance and repairs that do not add to the
value of the asset or materially extend asset lives are not
capitalized. Improvements are capitalized and depreciated over the
remaining useful lives of the related fixed assets, as applicable.
Depreciation on fixed assets acquired through intergovernmental grants,
entitlements, or shared revenues externally restricted to capital
acquisitions is closed to contributed capital.
Public domain ( "infrastructure ") general fixed assets consisting of
roads, bridges, curbs and gutters, streets and sidewalks, drainage
systems and lighting systems are not capitalized, as these assets are
immovable and of value only to the government.
Assets in the general fixed assets account group are not depreciated.
Depreciation of buildings, equipment, water /sewer systems, and vehicles
in the proprietary fund types is computed using 'the straight -line
method.
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.
14
1
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1992
1. Summary of Significant Accounting Policies (Cont.)
K. Long -Term Obligations
Long -term debt is recognized as a. liability of a governmental fund when
due, or when resources have been accumulated in the debt service fund
for payment early in the following year. For other long -term
obligations, only that portion expected to be financed from expendable
available financial resources is reported as a fund liability of a
governmental fund. The remaining portion of such obligations is
reported in the general long -term debt account group. Long -term
liabilities expected to be financed from proprietary fund operations
are accounted for in those funds.
L. Fund Equity
A Contributed capital is recorded in proprietary funds that have received
capital grants or contributions from developers, customers, or other
funds. Reserves represent those portions of fund equity not appropri-
able for expenditure or legally segregated for a specific future use.
Designated fund balances represent tentative plans for future use of
financial resources.
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.
1 15
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 ose eneral purpose financial statements g p p are captioned
'
"memorandum only" to indicate that they are presented only to
facilitate financial analysis. Data in these columns do not present
financial position, results of operations, or cash flows in conformity
with generally accepted accounting principles.
1 15
1
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1992
1. Summary of Significant Accounting Policies (Cont.)
N. Memorandum Only - Total Columns (Cont.)
Neither are such data comparable to a consolidation. Interfund
eliminations have not been made in the aggregation of this data.
0. Comparative Data
Comparative total data for the prior year have been presented in the
accompanying financial statements in order to provide an understanding
of changes in the government's financial position and operations.
However, comparative data have not been presented in all statements
because their inclusion would make certain statements unduly complex
and difficult to understand.
2. Legal Compliance and Accountability
A. Budgets
All departments of the government submit requests for appropriation to
the government's manager so that.a budget may be prepared. The budget
is prepared by fund, function, and activity, and includes information
on the past year, current year estimates, and requested appropriations
for the next fiscal year.
The proposed budget is presented to the governing body for review. The
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 Fund $ 18,500
Illinois Municipal Retirement Fund 213,814
Enhanced 911 Fund 36,369
Tax Incremental Finance District 1 Fund 85,319
Tax Incremental Finance District 2 Fund 1,419,675
Garage Fund 53,029
16
IJ
1
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1992
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:
Permitted Deposits and Investments - Statutes authorize the government to
make deposits /invest in commercial banks, savings.and loan institutions,
obligations of the U. S. Treasury and U. S. Agencies, obligations of States
and their political subdivisions, credit union shares, repurchase agree-
ments, commercial paper rated within the three highest classifications by
at least two standard rating services, and the Illinois Public Treasurer's
Investment Pool. Pension funds may also invest in certain non -U.S.
obligations, mortgages, veteran's loans, and life insurance company
contracts.
1
I
1
Fund
Excess
Debt Service Fund
$ 42,465
.
Water Fund
151,156
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
funds are held separately from those of other funds. Cash
pension trust
on hand of
$2,205 has been excluded from the amounts shown below.
Permitted Deposits and Investments - Statutes authorize the government to
make deposits /invest in commercial banks, savings.and loan institutions,
obligations of the U. S. Treasury and U. S. Agencies, obligations of States
and their political subdivisions, credit union shares, repurchase agree-
ments, commercial paper rated within the three highest classifications by
at least two standard rating services, and the Illinois Public Treasurer's
Investment Pool. Pension funds may also invest in certain non -U.S.
obligations, mortgages, veteran's loans, and life insurance company
contracts.
1
I
1
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1992
3. Deposits and Investments (Cont.)
A. Deposits
At year -end the carrying amount of the government's deposits totaled
$(116,035), and the bank balances totaled $288,397.
Category 1
Deposits covered by federal depository insurance,
or by collateral held by the government, or its
agent, in the government's name.
Category 2
Deposits covered by collateral held by the
pledging financial institution's trust
department, or by its agent, in the government's
name.
Category 3
Deposits covered by collateral held by the
pledging financial institution, or its trust
department, or its agent but not in the
government's name, and de- posits which are
uninsured and uncollateralized.
Total Deposits
18
Bank
Balances
$288,397
28_ 8,397
I
1
1
t
1
1
1
1
1
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1992
3. Deposits and Investments (Cont.)
B. Investments
The government's investments are categorized to give an indication of
the level of risk assumed by the entity at year -end. Category 1
includes investments that are insured or registered or for which the
securities are held by the government or its agent in the government's
name. Category 2 includes uninsured and unregistered investments for
which the securities are held by the counterparty's trust department or
agent in the government's name. Category 3 includes uninsured and
unregistered investments for which the securities are held by the
counterparty, or by its trust department or agent but not in the
government's name, and uninsured, unregistered and uncollateralized
investments.
• Deferred Compensation Plan Assets
• Illinois Public Treasurer's Investment Pool
• Insurance Contracts and Separate Accounts
Total Investments
* (Not Subject to Risk Categorisation)
19
1,378,453 1,378,453
4,378,868 4,378,868
881.448 881.448
38 217 172 40 602 204
Carrying Amount
Category
Market
1 2 3
Totals
Value
U. S. Government
Securities
$20,115,722
20,115,722
21,820,480
GNMA
1,247,583
1,247,583
1,256,940
Dade County Florida
Aviation Reserve
Bonds
10.215.098
10.215.098
10.886.015
31 578 403 - -
31,578,403
33,963,435
• Deferred Compensation Plan Assets
• Illinois Public Treasurer's Investment Pool
• Insurance Contracts and Separate Accounts
Total Investments
* (Not Subject to Risk Categorisation)
19
1,378,453 1,378,453
4,378,868 4,378,868
881.448 881.448
38 217 172 40 602 204
1
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1992
3. Deposits and Investments (Cont.)
B. Investments (Cont.)
The pension trust fund owns approximately 22 percent of the investments
in Category 1.
4. Receivables - Taxes
Property taxes for 1991 attach as an enforceable lien on January 1, 1991,
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, 1992, and are payable in two installments, on or about June 1,
1992, and September 1, 1992. The County collects such taxes and remits
them periodically.
5. Fixed Assets
A. General Fixed Assets Account Group
The following is a summary of changes in the general fixed assets
account group during the fiscal year:
20
Balances
May 1
Balances
As Restated
Additions
Retirements April 30
Land
$3,150,446
230,998
3,381,444
Building and
Improvements
4,873,494
4,873,494
Vehicles
723,853
203,225
80,439 846,639
Equipment
1,639,812
116,713
1.756.525
10,387,605
550,936
80,439 10,858.102
20
1
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1992
5. Fixed Assets (Cont.)
IB. Proprietary Fixed Assets
' The following is a summary of proprietary fund -type fixed assets as of
the date of this report:
Enterprise
A
1
Funds
Land
$ 77,500
Systems
13,670,057
Equipment and Vehicles
770,626
Parking Lot
613.958
15,132,141
Less Accumulated Depreciation
6.823.730
8.308.411
In proprietary funds, the following
estimated useful
lives are used to
compute depreciation:
Buildings
40 -50
years
Machinery and Equipment
10 -20
years
Vehicles
4 -5
years
Water /Sewer System
50 -60
years
A
1
1
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1992
6. Risk Management
A. The government has purchased medical insurance from private insurance
companies. Premiums have been displayed as expenditures /expenses in
appropriate funds.
B. Municipal Insurance Cooperative Agency (MICA)
The government participates in the Municipal Insurance Cooperative
Agency. MICA is a governmental joint venture whose members are
Illinois municipalities. MICA manages and funds first party property
losses, third party liability claims, workers' compensation claims,
and public officials liability claims of its members. The government's
payments to MICA are displayed on the financial statements as
expenditures /expenses in appropriate funds.
C. High -Level Excess Liability Pool (HELP)
The government participates in the High - Level Excess Liability Pool
(HELP). HELP is a joint venture established by certain municipalities
in Illinois to provide excess liability coverage ($5,000,000 of
coverage after a $1,000,000 self- insurance retention). The
government's payments to HELP are displayed on the financial statements
as expenditures /expenses in appropriate funds.
7. Lease Obligations
No material capital or operating leases were in effect as of the date of
this report.
8. Long -Term Debt
A. General Obligation Bonds
The government issues general obligation bonds to provide funds for the
acquisition and construction of major capital facilities.
General obligation bonds are direct obligations and pledge the full
faith and credit of the government. General obligation bonds currently
outstanding are as follows:
W
1
IVILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1992
8. Long -Term Debt (Cont.)
A. General Obligation Bonds (Cont.)
Fund Debt Balances Balances
Issue Retired by May 1 Issuances Retirements April 30
i
23
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
$100,000 -
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
300,000 -
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 4.4X to
* *Debt
6.0%)
Service
275,000 -
50,000
225,000
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
150,000 -
50,000
100,000
i
23
1
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1992
8. Long -Term Debt (Cont.)
A. General Obligation Bonds (Cont.)
General Obligation Bond
Series of 1991;
($1,500,000 dated July 1,
1991; maturing January 1,
1997; payable in annual
installments; interest * *Debt
rates from 5.21 to 5.8X) Service 1.500.000 1.500.000
23.490.000 1.500.000 895 000 24.095 000
* 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.
24
Fund Debt
Balances
Balances
Issue
Retired By
May 1 Issuances
Retirements April 30
Corporate Purpose
Bond series of 1986;
($11,000,000 dated
May 1, 1986; maturing
January 1. 2005; payable
in annual installments;
interest rates from 6.40%
Debt
to 7.75%)
Service
$ 9,890,000 -
445,000 9,445,000
Corporate Purpose Bond
Series of 1987;
($10,000,000 dated
October 8, 1987; ma-
turing October 8, 2002;
interest rate from 8.4%
*Expendable
to 8.5%)
Trust
10,000,000 -
- 10,000,000
General Obligation Bond
Series of 1988;
($3,000,000 dated No-
vember 1, 1988; maturing
January 1, 2004; payable
in annual installments;
interest rates from 6.7%
Debt
to 8.0X)
Service
2,775,000 -
150,000 2,625,000
General Obligation Bond
Series of 1991;
($1,500,000 dated July 1,
1991; maturing January 1,
1997; payable in annual
installments; interest * *Debt
rates from 5.21 to 5.8X) Service 1.500.000 1.500.000
23.490.000 1.500.000 895 000 24.095 000
* 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.
24
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1992
8. Long -Term Debt (Cont.)
B. Debt Service Requirements to Maturity
1
t
25
Annual debt service
requirements to maturity
are as follows:
General
Obligation
Bonds
Fiscal Year
General
Ending
Expendable
Long -Term
'
April 30
Trust
Debt
Totals
1993
$ 843,000
2,251,862
3,094,862
1994
1995
843,000
843,000
1,953,975
1,879,562
2,796,975
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
1,429,950
2,272,950
2001
843,000
1,438,650
2,281,650
2002
7,549,000
1,446,200
8,995,200
2003
3,127,500
1,454,513
4,582,013
2004
2005
1,432,050
1.115.538
1,432,050
1.115.538
Total Principal
'
and Interest
18,263.500
20.808.724
39.072.224
Interest Portion
8,263,500
'6.713.724
14.977.224
1
t
25
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1992
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:
D. Legal Debt Margin
The government is a home rule municipality.
Article VII, Section 6(k) of the 1970 Illinois Constitution governs
computation of the legal debt margin.
"The General Assembly may limit by law the amount and require
referendum approval of debt to be incurred by home rule
municipalities, payable from ad valorem property tax receipts, only
in excess of the following percentages of the assessed value of its
taxable.property ...(2) if its population is more than 25,000 and
less than 500,000 an aggregate of one percent: ...indebtedness
which is outstanding on the effective date (July 1, 1971) of this
constitution or which is thereafter approved by referendum... shall
not be included in the foregoing percentage amounts."
To date the General Assembly has set no limits for home rule
municipalities.
26
1
1
Balances
Balances
May 1
Additions Reductions April 30
Sewerage Improvement
Bond Series of 1973
$ 100,000
- 50,000
50,000
Sewerage Treatment
Facility Bond Series
of 1973
300,000
- 150,000
150,000
Corporate Purpose Bond
Series of 1982
275,000
- 50,000
225,000
Corporate Purpose Bond
Series of 1982 -A
150,000
- 50,000
100,000
Corporate Purpose Bond
Series of 1986
9,890,000
- 445,000
9,445,000
Corporate Purpose Bond
Series of 1988
2,775,000
- 150,000
2,625,000
General Obligation Bond
Series of 1991
1.500.000
1.500.000
13,490,000
1,500,000 895.000
14.095.000
D. Legal Debt Margin
The government is a home rule municipality.
Article VII, Section 6(k) of the 1970 Illinois Constitution governs
computation of the legal debt margin.
"The General Assembly may limit by law the amount and require
referendum approval of debt to be incurred by home rule
municipalities, payable from ad valorem property tax receipts, only
in excess of the following percentages of the assessed value of its
taxable.property ...(2) if its population is more than 25,000 and
less than 500,000 an aggregate of one percent: ...indebtedness
which is outstanding on the effective date (July 1, 1971) of this
constitution or which is thereafter approved by referendum... shall
not be included in the foregoing percentage amounts."
To date the General Assembly has set no limits for home rule
municipalities.
26
1
1
I
IVILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1992
8. Long -Term Debt (Cont.)
E. Noncommitment Debt
Industrial Development Revenue Bonds
1
The government qualifies as a Home Rule Unit under Section 6(a) of
Article VII of the 1970 Constitution of Illinois and, under the powers
granted by this section, can exercise any power and perform any
function pertaining to its government and affairs. which is not
prohibited by the Illinois Revised Statutes.
'
The issuance of Industrial Development Revenue Bonds by the government
is to finance in whole or in part the cost of the acquisition,
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 27
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1992.
9. Interfund Assets /Liabilities
A. Due From /To Other Funds
Receivable Fund
Payable Fund
Amount
General
Youth Bond
$ 5,412
General
Illinois Municipal
Retirement
146,264
General
Motor Fuel Tax
7,437
General
Water
15,000
General
Sewerage
15,000
General
Refuse
15,000
General
Garage
76,626
General
Deposit
7,299
Library
Municipal Audit
100
Library
Emergency Services/
Director
112
Library
Illinois Municipal
Retirement
436
Library
Street and Bridge
925
Library
Debt Service
2,358
Library
Police Pension
163
Street and Bridge
Refuse
64,539
Street and Bridge
Commuter Parking Lot
50,000
Illinois Municipal
Retirement
Street and Bridge
565
Transportation
General
2,000
Debt Service
Tax Increment Finance
District #1
96,150
28
1
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, 1992
9. Interfund Assets /Liabilities (Cont.)
A. Due From /To Other Funds (Cont.)
Receivable Fund PAXable Fund Amount
Debt Service Tax Increment Finance
District #2. $424,650
Debt Service Capital Improvements
Series of 1991 3,693
Vehicle Replacement Street and Bridge 5,423
Vehicle Replacement Water 3,026
Vehicle Replacement
Vehicle Replacement
Sewerage
Refuse
2,994
1.070
946,242
B. Advances From /To Other Funds
Receivable Fund Payable Fund Amount
General Tax Increment Finance
District #2 $1.3e
29
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE "FINANCIAL STATEMENTS
APRIL 30, 1992
10. Commitments
High -Level Excess liability Pool (HELP)
The government has committed to purchase excess liability insurance from
the High -Level Excess Liability Pool (Agency), a joint venture of Illinois
municipalities. The government expects to pay the following minimum
amounts (these amounts represent the government's share of the principal
and interest - "fixed costs" - of the Agency):
Year Ending Amount
1993
$25,263
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
30
I
h-
I
1
1
1
I
1
1
i
1
1
fl
1
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1992
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:
31
Commuter
Water
Sewerage
Refuse
Parking Lot
Fund
Fund
Fund
Fund
Fund
Totals
Operating Revenues
$2,280,367
1,244,158
750,960
139,663
4,415,148
Depreciation, and
Amortization Expense
98,462
338,272
-
30,697
467,431
Operating Income (Loss)
(8,921)
(426,508)
(767,730)
28,754
(1,174,405)
Operating Grants, Entitle-
ments, and Shared Revenues
-
-
-
-
-
Operating Transfers In
-
-
100,000
-
100,000
Operating Transfers (Out)
(36,320)
(35,930)
(12,850)
(50,000)
(135,100)
Tax Revenues
-
-
730,324
-
730,324
Net Income (Loss)
111,997
(345,059)
55,623
559
(176,880)
Current Capital Contributions
-
-
-
-
-
Current Capital Transfers
-
-
-
-
-
Plant, Property, and Equipment
Additions
-
16,361
-
-
16,361
Deletions
-
-
-
-
-
Total Assets
4,893,102
7,468,098
882,247
751,474
13,994,921
Net Working Capital
2,411,612
1,514,808
666,055
405,301
4,997,776
Bonds and Other Long-Term
Liabilities
Payable from Operating
Revenues
-
-
-
-
-
Payable from Other
Sources
-
-
-
-
-
Total Equity
4,698,756
7,241,508
666,055
699,868
13,306,187
31
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1992
12. Contributed Capital
During the year contributed capital increased /decreased by the following
amounts:
Increases
Decreases
Depreciation
Net (Decrease)
Contributed Capital
May 1
April 30
13. Fund Equity
A. Restatements
Commuter
Water Sewerage Parking Lot
Fund Fund Fund Totals
$ 43.687
164.838
27.027
235.552
298,159
(43,687)
(164,838)
(27,027)
(235,552)
1.824,517
6.025.342
298,159
8.148.018
_1,780,830
5,860,504
271,132
7,912,466
The government has restated beginning General Fund "Due from Other
Governments" and "Fund Balance" to properly reflect sales taxes that
were not accrued in prior years. The government has restated beginning
Water Fund and Sewerage Fund "Fixed Assets" and "Retained Earnings" due
to the results of a fixed asset inventory. Also restated was the
beginning General Fixed Assets Account Group's "Investment in Fixed
Assets."
Changes
Due To
As Reported Restatement As Restated
General Fund
Due from Other Governments $ 131,302 156,020 287,322
Fund Balance 6,957,428 156,020 7,113,448
Water Fund
Fixed Assets
Cost 3,397,340 100,994
Accumulated Depreciation (1,060,951) (51,777)
Retained Earnings 2,713,025 49,217
32
3,498,334
1,112,728 '
2,762,242
1
1
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1992
13. Fund Equity (Cont.)
A. Restatements (Cont.)
Changes
Due To
As Reported Restatement As Restated
Sewerage Fund
Fixed Assets
Cost 8,654,839 2,271,149 10,925,988
Accumulated Depreciation (2,376,126) (2,501,251) (4,877,377)
Retained Earnings 1,791,327 (230,102) 1,561,225
General Fixed Assets
Account Group
Fixed Assets 10,325,310 62,295 10,387,605
Investment in General Fixed
Assets 10,325,310 62,295 10,387,605
B. Tax Incremental Finance District Surplus Rebate
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 Revised 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. This amount is shown as Surplus
Rebate in the Tax Incremental Finance District 1 Fund.
' 14. Contingent Liabilities
1
1
1
A. Litigation
The government is a defendant -in various lawsuits. Although the out-
come of these lawsuits is not presently determinable, in the opinion of
the government's attorney the resolution of these matters will not have
a material adverse effect on the financial condition of the government.
B. Grants
Amounts received or receivable from grantor agencies are subject to
audit and adjustment by grantor agencies, principally the federal
government. Any disallowed claims, including amounts already col-
lected, may constitute a liability of the applicable funds. The
amount, if any, of expenditures which may be disallowed by the grantor
cannot be determined at this time although the government expects such
amounts, if any, to be immaterial.
33
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE•FINANCIAL STATEMENTS
APRIL 30, 1992
14. Contingent Liabilities (Cont.)
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, 1991:
Total Assets 3,846,171
Total Liabilities 2,315,523
Total Equity 1.530.648
Total Liabilities and
Equity 3.8®
34
u
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1992
1 15. Joint Ventures (Cont.)
A. Municipal Insurance Cooperative Association (MICA) (Cont.)
Summary Financial Information of Joint Venture (Cont.)
Summary of Revenues, Expenses, and Changes in Agency Equity for the
year ended April 30, 1991:
Share Share
Revenues
3,004,684
Arlington Heights
Expenses
3.276.802
'
Net (Loss)
(272,118)
Agency Equity
of
Chicago Ridge
May 1
1.802.766
of
April 30
_ 1.50
Village
of
Deerfield
B. High -Level Excess Liability Pool (HELP)
City of
Park Ridge
Description of Joint Venture
City of
The High -Level Excess Liability Pool (the "Agency ") is a
proprietary
'
joint venture and was organized on April 1, 1987. The purpose of the
Skokie
Agency is to act as a joint self- insurance pool for the
purpose of
Village
seeking the prevention or lessening of liability claims for
injuries to
7.83
persons or property or claims for errors and omissions made
against the
Streamwood
Members and other parties included within the scope of coverage of the
Agency.
of
Glenview
At the date of this report, the following municipalities were members
City of
of the Agency:
7.23
Share Share
1 35
Village
of
Arlington Heights
11.82%
Village
of
Mt. Prospect
7.59%
Village
of
Chicago Ridge
2.30
Village
of
Oak Lawn
9.78
Village
of
Deerfield
3.60
City of
Park Ridge
5.71
City of
Des Plaines
10.68
Village
of
Skokie
10.13
1
Village
of
Elk Grove Village
7.83
Village
of
Streamwood
4.29
Village
of
Glenview
6.37
City of
Wheaton
7.23
Village
of
Hoffman Estates
6.90
Village
of
Winnetka
4.38
Village
of
Lincolnshire
1.39
i
1
1 35
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL-30, 1992
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 30,1992:
Assets Liabilities and Fund Equity
Current Assets
Current Liabilities
Cash and Investments
Accounts Payable
6,638
Unrestricted
$2,463,565
Due to Village of
Escrow Agreement
6.910.376
Elk Grove Village
475,000
9.373.941
Accrued Interest
Payable
93,672
Receivables
Deferred Revenues
482.500
Accounts
157,713
1.057,810
Accrued Interest
3.478
Long -Term Liabili-
161.191
ties
Rebate Payable
97,459
Due to Village of
Elk Grove Village
2.950.000
3,047.459
Total Liabili-
ties
4,105,269
Fund Equity
Retained Earnings
5,429.863
Total Liabilities
Total Assets
9,5_ 3
and Fund Equity
9,53_
36
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1992
15, Joint Ventures (Cont.)
Excess Liability Pool
B. High -Level (HELP) (Cont.)
Summary Financial Information of Joint Venture (Cont.)
Summary of Revenues, Expenses, and Changes in Retained Earnings for the
year ended April 30, 1992:
Operating Revenues
$ 964,903
.�
Operating Expenses
29.831
Operating Income
935.072
'
Nonoperating Revenues (Expenses)
Interest Income
502,577
Interest Expense
(230.314)
272.263
Net Income
1,207,335
iRetained
Earnings
May 1
4.222.528
April 30
55 429,863
Government's Share of Assets, Liabilities, Fund Equity
and Changes for
the year ended April 30, 1992:
Balances Increases
Balances
May 1 (Decreases)
April 30
Total Assets $319,368 23.897
343.265
Total Liabilities 167,779 (19,989)
147,790
Fund Equity
Retained Earnings 151.589 43.886
195.475
Total Liabilities
and Fund Equity _319,368 23,897
343.265
Government's Share of Net Income
43 886
37
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1992
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 53.4251000 - 475.000 2.9501000
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.
38
t
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1992
15. Joint Ventures (Cont.)
C. Solid Waste Agency of Lake County (SWALCO) (Cont.)
Description of Joint Venture (Cont.)
The members of the Agency and their percentage shares based on formulae
contained in the Agency agreement as of April 30 are:
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.
1 39
X
X
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
1
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
'100.00
These percentage shares
are subject
to change in future years based on
the combination of the
the municipalities.
population and equalized assessed
valuation of
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.
1 39
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1992
15. Joint Ventures (Cont.)
C. Solid Waste Agency of Lake County (SWALCO) (Cont.)
Summary Financial Information of Joint Venture
The Agency was formed on February 21, 1991 and has a fiscal year end of
April 30. No audit was performed for the year ended April 30, 1991.
There was no outstanding debt at April 30, 1992. The audit performed
as of April 30, 1992 was not available at the time of issuance of this
report.
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. Expenditures for postretirement health care benefits are
recognized as insurance premiums are paid. During the year, expenditures
of $1,460 were recognized for postretirement benefits.
40
I
IVILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1992
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
1 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, 1991, was
$4,857,005. Of this amount, $2,990,934 in payroll earnings were
' reported to and covered by the IMRF system.
All employees hired in positions that meet or exceed the prescribed
' annual hourly standard must be enrolled in IMRF as participating
members. Pension benefits vest after eight years of service.
Participating members who retire at or after age 60 with 8 years of
service are entitled to an annual retirement benefit, payable monthly
for life, in an amount equal to 1 2/3 percent of their final rate
(average of the highest 48 consecutive months' earnings during the last
10 years) of earnings, for each year of credited service up to 15
years, and 2 percent for each year thereafter. IMRF also provides
death and disability benefits. These benefit provisions and all other
requirements are established by Illinois State Statute.
Participating members are required to contribute 4.5 percent of their
annual.salary to IMRF. The government is required to contribute the
' remaining amounts necessary to fund the coverage of its own employees
in the System, using the actuarial basis specified by state statute
(entry age normal), for 1991 the rate was 12.46 percent.
Police Pension
Police sworn personnel are covered by the Police Pension Plan which is
a defined benefit single - employer pension plan. Although this is a
single- employer pension plan, the defined benefits and employee and
employer contributions levels are governed by Illinois State Statutes
(Chapter 108 1/2 Article 3) and may be amended only by the Illinois
legislature. The government accounts for the plan as a pension trust
fund. The government's payroll for employees covered by the Police
Pension Plan for the year ended April 30, 1992 was $1,552,844 out of a
total payroll of $4,882,857. At April 30, 1992 the Police Pension Plan
Membership consisted of:
41
1
18.
1
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS '
APRIL 30, 1992
Employee Retirement Systems (Cont.)
A. Plan Descriptions and Provisions (Cont.)
Police Pension (Cont.)
Retirees and Beneficiaries Currently Receiving
Benefits and Terminated Employees Entitled to
Benefits but not yet Receiving Them 11
Current Employees
Vested 22
Nonvested 14
Total
The following is a summary of the Police Pension Plan as provided for
in Illinois State Statutes.
The Police Pension Plan provides retirement benefits as well as death
and disability benefits. Employees attaining the age of 50 or more
with 20 or more years of creditable service are entitled to receive an
annual retirement benefit of one -half of the salary attached to the
rank held on the last day of service, or for one year prior to the last
day, whichever is greater. The pension shall be increased by 2% of
such salary for each additional year of service over 20 years up to 30
years, and 1% of such salary for each additional year of service over
30 years, to a maximum of 75% of such salary. Employees with at least
8 years but less than 20 years of credited service may retire at or
after age 60 and receive a reduced benefit.
The monthly pension of a police officer who retired with 20 or more
years of service after January 1, 1977 shall be increased annually,
following the first anniversary date of retirement and be paid upon
reaching the age of at least 55 years, by 3% of the original pension
and 3% simple interest annually thereafter.
Covered employees are required to contribute 9% of their base salary to
the Police Pension Plan. If an employee leaves covered employment with
less than 20 years of service, accumulated employee contributions may
be refunded without accumulated interest. The government is required
to contribute the remaining amounts necessary to finance the plan as
actuarially determined by an enrolled actuary. By the year 2020 the
government's contributions must accumulate to the point where the past
service cost for the Police Pension Plan is fully funded.
42
1
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1992
18. Employee Retirement Systems (Cont.)
B. Summary of Significant Accounting Policies and Plan Asset Matters
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.
1
1 43
Basis of Accounting
The financial statements are prepared using the accrual basis of
accounting. Employee and employer contributions are recognized as
'
revenues in the period in which employee services are performed.
Method Used to Value Investments
Fixed- income securities are reported at amortized cost with discounts
or premiums amortized using the effective interest rate method, subject
'
to adjustment for market declines judged to be other than temporary
(lower of cost or market). Investment income is recognized as earned.
Gains and losses on sales and exchanges of fixed - income securities are
recognized on the transaction date. Equity securities represented by
'
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 obligations) in any one organization that
represent five percent or more of net assets available for benefits.
Related Party Transactions
There are no securities of the employer or any other related parties
included in plan assets, including any loans.
C. Funding Status and Progress
The amount shown below as the "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.
1
1 43
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1992
18. Employee Retirement Systems (Cont.)
C. Funding Status and Progress (Cont.)
Illinois
Municipal Police
Retirement Pension
December 31, April 30,
Actuarial Valuation Date 1991 1992
Significant Actuarial
Assumptions
a) Rate of Return on Invest-
ment of Present and
Future Assets
b) Projected Salary
Increases - Attribut-
able to Inflation
c) Additional Projected
Salary Increases -
Attributable to
Seniority /Merit
d) Postretirement Benefit
Increases
00
7.008
9.008
compounded
compounded
annually
annually
4.258 ]
compounded ]
6.508
annually ]
compounded
J
]
annually
]
(Note - separate
]
information for b)
]
and c) not available
1.008 J
3.008
3.008
simple interest
annually
1
IVILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1992
1
'
18. Employee Retirement Systems (Cont.)
C. Funding Status and Progress (Cont.)
Illinois
Totals
Municipal
Police
(Memorandum
Retirement
Pension
Only)
Pension Benefit Obligation
'
Retirees and Beneficiaries
Currently Receiving
Benefits and Terminated
(Note)
Employees not yet
'
Receiving Benefits
$ 135,722
3,320,802
3,456,524
Current Employees
Accumulated Employee
Contributions
'
Including Allocated
Investment Earnings
1,315,200
1,060,178
2,375,378
Employer - Financed Vested
2,935,242
2,576,544
5,511,786
Employer - Financed
Nonvested
323.280
59.881
383,161
Total Pension Benefit
'
Obligation
4,709,444
7,017,405
11,726,849
Net Assets Available for
Benefits, at Lower of
Cost or Market
2.916,035
8.380.701
11.296.736
(Market Values)
(IMRF - $ 3,349,725)
'
(Police - 9.707.695)
(Totals 13,057,420)
iUnfunded
(Assets in Excess of)
Pension Benefit Obligation
1.793,409
(1,363.296)
430.113
( 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
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1992
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
There have been no current -year changes in the actuarial assumptions
and benefit provisions.
D. Contributions Required and Contributions Made
Illinois Municipal Retirement and Police Pension
The Systems' funding policy provides for actuarially determined peri-
odic contributions at rates that, for individual employees, accumulate
assets gradually over time so that sufficient assets will be available
to pay benefits when due. The rate for the government's employee group
as a whole has tended to remain level as a percentage of annual covered
payroll. The contributions rate for normal cost is determined using
the entry age normal actuarial funding method. The IMRF System used
the level percentage of payroll method, while the Police Pension System
used a level dollar amount method to amortize the unfunded liability
over a 40 year period.
The significant actuarial assumptions used to compute the actuarially
determined contribution requirements are the same as those used to
compute the pension benefit obligation as described in C. above.
46
I
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1992
19. Employee Retirement Systems (Cont.)
' D. Contributions Required and Contributions Made (Cont.)
' Illinois Totals
Municipal Police (Memorandum
Retirement Pension Only)
' December 31, April 30,
Actuarial Valuation Date 1991 1992
Actuarially Determined Contri-
bution Requirement
'
As a Dollar Amount
Employer
Normal Cost
$207,570
109,873
317,443
Amortization of Unfunded Actu-
arial Accrued Liability
148,948
24,552
173,500
Death and Disability Cost
16.151
16.151
372,669
134,425
507,094
'
Employee - Normal Cost
134.592
139.756
274.348
507,261
274.181
781.442
As a % of Current Covered Payroll
Employers
Normal Cost
6.94%
7.08
6.98
Amortization of Unfunded Actu-
'
arial Accrued Liability
4.98
1.58
3.82
Death and Disability Cost
.54
.36
Employee - Normal Cost
12.46
4.50
8.66
9.00
11.16
6.04
16.96
17.66
17.20
Contribution Made
As a Dollar Amount
Employer
$372,669
166,382
539,051
Employee
134.592
139.756
274.348
'
507,261
306,138
813,399
As a 8 of Current Covered Payroll
Employer
12.46%
10.71
11.86
Employee
4.50
9.00
6.04
t16.96
19.71
17.90
47
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1992
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 1992 contribution rates. The net effect of these changes is
estimated to increase contributions by 1% or less of payroll. Separate
dollar effects of each change were not economically determinable by
IMRF.
Police Pension
There have been no current -year changes in the actuarial assumptions,
actuarial funding method, or benefit provisions.
E. Trend Information
Trend information gives an indication of the progress made in
accumulating sufficient assets to pay benefits when due. Ten -year
trend information may be found in the supplemental section of the
government's annual financial report.
48
Year
Illinois
Municipal
Retirement
Police
Pension
Totals
(Memorandum
Only)
Net Assets Available for Bene-
1990
50.75%
123.00
93.86
fits as a % of the Pension
1991
51.97
118.79
91.10
Benefit Obligation (PBO)
1992
61.92
119.43
96.33
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
1990
65.19
(81.00)
13.08
for the effects of inflation
1991
76.55
(75.72)
21.95
for analysis purposes)
1992
59.96
(87.79)
9.47
Employer Contributions
As a % of Annual Covered
1990
10.10
11.00
10.42
Payroll
1991
11.78
9.92
11.11
1992
12.46
10.71
11.86
Required
1990
$266,280
133,613
399,893
1991
329,943
142,757
472,700
1992
372,669
134,425
507,094
Made
1990
266,280
160,461
426,741
1991
329,945
155,284
485,229
1992
372,669
166,382
539,051
48
GOVERNMENTAL FUND TYPES
1
1
1
I
1
1
1
1
1
11
1
1
1
1
1
1
1
1
1
GENERAL FUND
F
1
r
1
�I
1
GENERAL FUND
' General Fund - (also referred to as the Corporate Fund)
To account for resources traditionally associated with governmental services not
' required to be accounted for in another fund.
1
1
1
1
1
1
1
1
1
1
1
1
i
1
1
1
1
I
1
1
1
1
1
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
GENERAL FUND
BALANCE SHEET
APRIL 30, 1992
ASSETS
1992 1991
Cash and Investments
$6,516,130
5,403,790
Receivables
60,138
88,870
Accrued Interest
50,469
70,644
Other
75,311
92,996
Due from Other Governments
565,050
534,635
Sales Tax
313,842
131,302
State Income Tax
134,091
287,322
Court Fines
843,007
33,815
Due from Other Funds
288,038
402,277
Inventory
9,939
21,056
Advances to Other Funds
1,320,000
1,320,000
Investment in Joint Venture - HELP
121.585
94.288
1,320,000
Total Assets
8.829.405
7.857.989
LIABILITIES AND FUND BALANCE
Liabilities
Cash Overdrafts
116,035
Accounts Payable
60,138
88,870
Accrued Payroll
98,625
79,081
Contracts Payable
34,599
Compensated Absences Payable
565,050
534,635
Other Payables
1,159
7,356
Due to Other Funds
2,000
Total Liabilities
843,007
744,541
Fund Balance
Reserved for Due from Other Governments
447,933
296,918
Reserved for Inventory
9,939
21,056
Reserved for Advances to Other Funds
1,320,000
1,320,000
Reserved for Investment in Joint Venture - HELP
121,585
94,288
Unreserved
Designated - Capital Improvements
4,250,000
3,500,000
Undesignated
1,836,941
1,881,186
Total Fund Balance
7,986,398
7,113,448
Total Liabilities and Fund Balance
8,829,405
7,857,989
See accompanying Notes to the Financial Statements.
49
VILLAGE OF DEERFIELD, ILLINOIS
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1992
Revenues
Taxes
Licenses and Permits
Intergovernmental
Charges for Services
Fines and Forfeits
Interest
Miscellaneous
Total Revenues
Expenditures
General Government
Public Safety
Total Expenditures
Excess (Deficiency) of Revenues
over Expenditures
Other Financial Sources (Uses)
Operating Transfers In (Out)
Transportation Fund
Tax Incremental Finance District
2 Fund
Brickyard Park Fund
Project 29 Fund
Refuse Fund
Excess (Deficiency) of Revenues and
Other Financing Sources over Expen-
ditures and Other Financing Uses
Fund Balance
May 1 - as Restated
Residual Equity Transfer In
Youth Bound Fund
April 30
1992 1991
Budget Actual Actual
$3,679,000
3,888,108
3,703,510
185,500
192,650
201,266
8,000
104,000
125,686
108,245
245,000
273,651
311,703
261,000
520,600
534,200
271.500
359.116
331.583
4.754.000
5.359.811
5.190.507
1,565,530 1,390,752 1,388,758
3.225.680 2.933.620 2.907.502
4.791.210 4.324.372 4.296.260
(37.210) 1.035.439 894.247
(2,500) (2,000) (2,000)
(64,500) (65,901) (38,023)
750
33,784
(100.000) (100.000)
(67.000) (167.901) (105.489)
(104,210) 867,538 788,758
7,113,448 6,324,690
5,412
7.986.398 7.113.448
See accompanying Notes to the Financial Statements.
50
1
1
1
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
GENERAL FUND
SCHEDULE OF REVENUES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1992
Taxes
Sales Tax
Local Use Tax
Income Tax
Hotel Motel Tax
Photofinishing Tax
1
1
Intergovernmental
.State Grants
Charges for Services
Special Police Services
Transfer Charges
Engineering Charges
' Fines and Forfeits
Interest
1
1
1
1
1
Miscellaneous
False Alarms
Sale of Materials
Rentals
Miscellaneous
Franchise Fees
Income from Joint Venture
Proceeds from Sale of Fixed Assets
Total Revenues
51
Budget Actual
$2,150,000 2,105,112
55,000 98,959
674,000 651,016
800,000 999,127
33.894
3.679.000 3.888.108
55;000
61,379
5,000
Licenses and Permits
11,500
Beer /Liquor Licenses
'
Food Licenses
6,500
Other Business Licenses
32.500
Building Permits
'
Animal Licenses
271.500
Non- Business Licenses and Permits
1
1
Intergovernmental
.State Grants
Charges for Services
Special Police Services
Transfer Charges
Engineering Charges
' Fines and Forfeits
Interest
1
1
1
1
1
Miscellaneous
False Alarms
Sale of Materials
Rentals
Miscellaneous
Franchise Fees
Income from Joint Venture
Proceeds from Sale of Fixed Assets
Total Revenues
51
Budget Actual
$2,150,000 2,105,112
55,000 98,959
674,000 651,016
800,000 999,127
33.894
3.679.000 3.888.108
55;000
61,379
5,000
4,818
11,500
15,630
75,000
73,443
6,500
6,723
32.500
30.657
185.500
192.650
8.000
53,000 51,660
45,000 45,000
6.000 29.026
104.000 125,686
245.000 273.651
261.000 520.600
50,000
48,983
2,348
45,500
50,758
22,000
19,376
154,000
165,504
27,297
44.850
271.500
359.116
4.754.000 5.359.811
VILLAGE OF DEERFIELD, ILLINOIS
GENERAL FUND
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1992
Budget Actual
General Government
Administration Department
Salaries
$ 775,430
744,784
Overtime
6,000
8,023
Part -Time
92,000
96,580
Employee Benefits
136,400
109,540
Professional Services
167,000
104,818
.Travel, Training and Dues
24,850
29,131
Printing and Advertising
18,300
19,026
Communications
24,200
23,060
Insurance
61,000
50,904
Contractual Services
69,300
56,002
Utility Services
3,500
4,858
Motor Vehicle Maintenance
8,100
8,907
Repairs and Maintenance
33,800
21,237
Equipment Rental
852
Rental Property Repairs
7,000
247
Miscellaneous
40,600
28,287
Supplies
38,250
.25,958
Materials
1,000
Motor Vehicle Supplies
2,500
2,164
Housing Assistance
33,000
26,483
Apparel
600
142
Small Tools and Equipment
1,000
Equipment
7,000
13,135
Office Furniture
743
Improvements other than Buildings
14.700
15.871
Total General Government
1,565.530
1.390.752
Public Safety
Police Department
Administrative Service
Salaries
515,760
495,878
Overtime
5,830
3,623
Part -Time
23,180
15,429
Employee Benefits
60,790
53,778
Professional Services
10,000
8,568
Travel,.Training and Dues
4,800
3,775
Printing and Advertising
6,400
6,435
Communications
24,700
29,135
Insurance
128,000
100,373
Contractual Services
56,050
42,184
Motor Vehicle Maintenance
1,600
1,770
Repairs and Maintenance
15,000
9,527
52
1
tVILLAGE OF DEERFIELD, ILLINOIS
GENERAL FUND
' SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED APRIL 30, 1992
' Special Services
Salaries 22,200
Overtime 14.707
' 22.200 14.707
53
Budget
Actual
'
Public Safety (Cont.)
Police Department (Cont.)
Administrative Service (Cont.)
Supplies.
$ 15,000
15,436
Motor Vehicle Supplies
1,000
471
Apparel
6,100
6,100
'
Equipment
20,900
18,062
Miscellaneous
8.800
7.263
903.910
817.807
'
Investigations
Salaries
128,000
142,252
Overtime
8,500
4,072
'
Employee Benefits
19,560
17,951
Travel, Training and Dues
1,800
392
Contractual Services
18,770
15,441
Motor Vehicle Maintenance
2,250
1,360
t
Repairs and Maintenance
2,000
175
Supplies
5,200
4,505
'
Motor Vehicle Supplies
Apparel
1,800
1,800
770
1,800
Equipment
750
190.430
188.718
Patrol
Salaries
1,324,280
1,209,380
Overtime
58,800
35,007
t
Part -Time
43,570
31,915
Employee Benefits
191,910
149,004
'
Travel, Training and Dues
Contractual Services
30,950
1,800
22,511
528
Motor Vehicle Maintenance
36,730
34,807
Repairs and Maintenance
4,000
2,374
'
Supplies
9,500
12,233
Motor Vehicle Supplies
37,500
26,487
Apparel
24,000
26,157
Equipment.
5,800
11,183
'
Motor Vehicles
108.000
124.706
1.876.840
1.686.292
' Special Services
Salaries 22,200
Overtime 14.707
' 22.200 14.707
53
VILLAGE OF DEERFIELD, ILLINOIS
GENERAL FUND
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED APRIL 30, 1992
54
Budget
Actual
Public Safety (Cont.)
Police Department (Cont.)
Youth Services
Salaries
$ 186,040
191,081
Overtime
5,200
3,113
Employee Benefits
25,590
25,646
Travel, Training and Dues
2,020
861
Contractual Services
25
Motor Vehicle Maintenance
4,800
1,507
Repairs and Maintenance
1,500
Supplies
950
189
Motor Vehicle Supplies
2,000
1,600
Apparel
1,200
1,200
Equipment
3.000
874
232.300
226.096
Total Public Safety
3;225.680
2.933.620
Total Expenditures
4.791.210
4.324.372
54
1
1
1
1
1
1
1
1
1°
1
1
1
1
1
1
1
1
1
1
SPECIAL REVENUE FUNDS
1
1
1
Municipal Audit Fund
SPECIAL REVENUE FUNDS
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.
Youth Bound Find
Accounts for the revenues collected and the expenditures incurred for this
unique and very successful youth project of the Deerfield Police Department.
The Youth Bound Fund is being closed to the General Fund in Fiscal Year 1992.
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.
F1
1
1
1
SPECIAL REVENUE FUNDS (CONT.)
Transportation Fund
i
To account for the Taxi. Subsidy Program established for senior citizens and the
handicapped.
Enhanced 911 Ftimd
To account for the 911 calling telephone system activity.
1
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VILLAGE OF DEERFIELD, ILLINOIS
MUNICIPAL AUDIT FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1992
1992 1991
Budget Actual Actual
Revenues
Taxes
Property Taxes $13,500 12,592 12,496
Interest 26 32
Total Revenues 13,500 12,618 12,528
Expenditures
Miscellaneous
Contractual
Excess (Deficiency) of Revenues
Over Expenditures
Fund Balance
May 1
April 30
13.500 12.400 13.450
218 (922)
See accompanying Notes to the Financial Statements.
57
10.165
11.087
10.383
10,165
VILLAGE OF DEERFIELD, ILLINOIS
EMERGENCY SERVICES /DISASTER FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET'AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1992
Revenues
Taxes
Property Taxes
Interest
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
1992 1991
Budget Actual Actual
$ 5,000 5,037 4,999
11 37
5.000 5.048 .5.036
700
1,800
1,599
1,663
600
262
259
300
39,918
210
100
105
107
1,300
480
105
200
34
1,000
404
1,348
500
120
30
40.500
47.000
42.888
3.756
(42,000) (37,840) 1,280
19.340 18.060
118.500) 19.340
See accompanying Notes to the Financial Statements.
58
1
VILLAGE OF DEERFIELD, ILLINOIS
YOUTH BOUND FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1992
1992
1991
Budget Actual
Actual
'
Revenues
Charges for Services - -
-
Expenditures
Culture and Recreation - -
-
Excess of Revenues
over Expenditures - -
-
Fund Balance
May 1 $ 5,412
5,412
'
Residual Equity Transfer (Out) -
General Fund (5.412)
April 30 -
.5 412
rSee
accompanying Notes to the Financial Statements.
59
VILLAGE OF DEERFIELD, ILLINOIS
LIBRARY FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1992
1992 1991
Budget Actual Actual
Revenues
Taxes
Property Taxes
$ 856,479
767,855
907,891
Replacement Taxes
16,000
16,234
16,362
Intergovernmental
Grants
17,432
15,768
17,432
Charges for Services
Non - Resident Fees
14,000
21,250
15,325
Fees, Fines, Penalties
28,500
45,144
32,230
Reciprocal Borrowing
5,000
5,854
9,583
Xerox
9,800
11,220
11,279
Videos
25,000
25,661
26,712
Interest
38,000
40,296
39,775
Miscellaneous
Tax Incremental Finance District
Surplus Property Tax Rebate
110,000
308,099
63,935
Gifts
500
1,062
2,022
Reserve for Repairs and Replacement
160.000
Total Revenues
1,280,711
1,258,443
1,142,546
Expenditures
Culture and Recreation
Excess of Revenues
over Expenditures
Fund Balance
May 1
April 30
1.220.711 1.044.484 962.517
6®0,000 213,959 180,029
443.825 263.796
657.784 443.825
L,
1
See accompanying Notes to the Financial Statements. i
60
1
VILLAGE OF DEERFIELD, ILLINOIS
LIBRARY FUND
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1992
IBudget Actual
Culture and Recreation
Salaries - Professional $ 260,825 234,639
Salaries - Non - Professional 365,210 351,137
Employee Benefits 44,625 42,757
Professional Services 5,000 11,898
Education, Travel and Dues 5,500 7,657
Communication 11,075 9,703
Insurance 19,400 13,545
r Contractual Services 13,000 23,029
Utilities 1,100 1,368
Repairs, Maintenance of Building and
Equipment Building Supplies 115,000 49,371
Supplies - Library and Office 23,000 21,152
Books 96,000 108,962
Periodicals 30,000 31,617
Audio - Visual 20,000 19,164
Binding 2,500 2,275
Special Library Programs 4,000 7,040
1 Data Base 2,000
New Equipment 10,000 16,101
Printing 6,700 9,488
Cataloging Service 6,500 4,190
Miscellaneous 1,000 1,430
Automation Project 98,276 77,961
Improvements - Other than Building 80,000
Total Expenditures 1,220,711 1,044,484
1
61
VILLAGE OF DEERFIELD, ILLINOIS
STREET AND BRIDGE FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1992
Expenditures
Highways and Streets
Administration
Cleaning
Traffic Marking
Pavement Patching
Tarring Cracks
Drainage Structure
Street Lights and Traffic Signals
Miscellaneous Maintenance
Snow and Ice Control
Weed Control
Tree Removal
Tree Planting
Railroad Station Maintenance
Total Expenditures
Excess of Revenues
over Expenditures
Other Financing Sources (Uses)
Operating Transfers In (Out)
Commuter Parking Lot Fund
Vehicle Replacement Fund
Excess (Deficiency) of Revenues and Other
Financing Sources over Expenditures and
Other Financing Uses
Fund Balance
May 1
April 30
See accompanying Notes to the Financial Statements.
62
164,380
1992
172,483
1991
45,366
Budget
Actual
Actual
51,845
114,200
111,587
101,438
Revenues
47,414
41,800
29,880
Taxes
28,177
129,840
115,294
Property Taxes
$330,000
332,421
329,914
Other Taxes
200,000
200,000
195,000
Licenses and Permits
13,524
52,620
50,835
Vehicle Licenses
340,000
338,023
335,591
Charges for Services
23.442
26.120
947.940
State Highway Maintenance
24,000
25,038
23,522
50/50 Sidewalk and Curb
20,000
15,990
16,996
50/50 Tree
5,000
3,968
4,397
Train Station Maintenance
1,500
1,500
1,500
Traffic Signal Reimbursement
3,000
2,352
5,974
Interest
26,000
37,156
37,356
Miscellaneous
Other
10.000
2.061
12.226
Total Revenues
959.500
958.509
962.476
Expenditures
Highways and Streets
Administration
Cleaning
Traffic Marking
Pavement Patching
Tarring Cracks
Drainage Structure
Street Lights and Traffic Signals
Miscellaneous Maintenance
Snow and Ice Control
Weed Control
Tree Removal
Tree Planting
Railroad Station Maintenance
Total Expenditures
Excess of Revenues
over Expenditures
Other Financing Sources (Uses)
Operating Transfers In (Out)
Commuter Parking Lot Fund
Vehicle Replacement Fund
Excess (Deficiency) of Revenues and Other
Financing Sources over Expenditures and
Other Financing Uses
Fund Balance
May 1
April 30
See accompanying Notes to the Financial Statements.
62
164,380
168,613
172,483
45,640
45,366
36,495
57,530
49,299
51,845
114,200
111,587
101,438
52,010
47,414
41,800
29,880
32,923
28,177
129,840
115,294
117,186
93,560
101,501
93,196
138,850
142,722
141,976
15,970
16,845
13,524
52,620
50,835
37,156
21,100
16,774
24,054
32.360
23.442
26.120
947.940
922.615
885.450
11.560 35.894 77.026
50,000 50,000 50,000
(65.070) (65.070) (63.530)
(15.070) (15.070) (13.530)
.j "510) 20,824 63,496
264.000 200.504
284.824 264.000
1
VILLAGE OF DEERFIELD, ILLINOIS
STREET AND BRIDGE FUND
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL
- FOR THE YEAR ENDED APRIL 30, 1992
Budget Actual
Highways and Streets
Public Works
Administration
Salaries $ 55,730 64,439
Overtime 7,310 5,673
Employee Benefits 10,290 9,071
Professional Services 500
1 Travel, Training and Dues 2,200 2,503
Printing and Advertising 4,600 3,462
Communications 6,850 4,386
1 57.530 49.299
1 63
Insurance
58,500
57,441
Motor Vehicle Maintenance
2,900
2,539
Miscellaneous
2,000
2,224
Supplies
4,200
8,536
Motor Vehicle Supplies
1,500
1,344
Apparel
1,800
1,564
Repairs and Maintenance
2,000
71
Contractual
4.000
5.360
164.380
168.613
Cleaning
Salaries
21,050
25,264
Overtime
1,260
535
Employee Benefits
3,580
3,745
Small Tools and Equipment
750
153
Contractual
3,700
1,289
Motor Vehicle Maintenance
4,650
3,998
Repairs and Maintenance
5,500
7,050
Equipment Rental
1,500
714
Motor_Vehicle Supplies
1,850
1,118
Supplies
1.800
1.500
45.640
45.366
Traffic Marking
Salaries
25,370
20,491
Overtime
340
167
Part -Time
3,030
3,018
Employee Benefits
3,820
3,547
Motor Vehicle Maintenance
1,170
892
Repairs and Maintenance
1,000
388
Motor Vehicle Supplies
300
141
Materials
5,000
4,445
Street Signs
7,500
6,210
Contractual
10.000
10.000
1 57.530 49.299
1 63
VILLAGE OF DEERFIELD, ILLINOIS
STREET AND BRIDGE FUND
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED APRIL 30, 1992
Budget Actual
Highways and Streets (Cont.)
23,180
26,691
Public Works (Cont.)
660
485
Pavement Patching
3,640
3,528
Salaries
$ 48,550
51,100
Overtime
1,320
353
Employee Benefits
9,200
7,953
Motor Vehicle Maintenance
5,830
6,852
Repairs and Maintenance
5,500
4,885
Supplies
600
5,169
Motor Vehicle Supplies
2,000
995
Aggregates
39,200
38,156
Materials
2.000
1.293
4,263
114,200
111.587
Tarring Cracks
Salaries
23,180
26,691
Overtime
660
485
Part -Time
3,640
3,528
Employee Benefits
3,680
4,401
Motor Vehicle Maintenance
1,650
1,715
Repairs and Maintenance
2,100
3,114
Motor Vehicle Supplies
3,000
812
Aggregates.
600
785
Materials
11,000
5,169
Equipment Rental
2.500
714
52.010
47.414
Drainage Structures
Salaries
16,850
18,615
Overtime
1,000
1,632
Employee Benefits
3,000
2,765
Motor Vehicle Maintenance
2,330
2,210
Repairs and Maintenance
2,300
873
Motor Vehicle Supplies
300
158
Aggregates
1,600
2,261
Materials
2.500
4.409
29.880
32.923
Street Lights and Traffic Signals
Salaries
15,550
15,688
Overtime
3,500
4,263
Employee Benefits
3,420
2,416
Contractual
31,000
14,189
Utility Services
60,000
63,275
Motor Vehicle Maintenance
1,750
3,254
Repairs and Maintenance
2,000
588
64
P__�
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1
1
1
1
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
. STREET AND BRIDGE FUND
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED APRIL 30, 1992
Highways and Streets (Cont.)
Public Works (Cont.)
Street Lights and Traffic
Equipment Rental
Motor Vehicle Supplies
Aggregates
Materials -
Equipment
Signals (Cont.)
Miscellaneous Maintenance
Salaries
Overtime
Employee Benefits
Contractual
Motor Vehicle Maintenance
Repairs and Maintenance
Small Tools and Equipment
Miscellaneous
Motor Vehicle Supplies
Aggregates
Materials
Equipment Rental
Budget Actual
$ 1,000
800
1,154
420
637
10,000
9,552
400
278
129,840
115.294
15,110
6,801
2,310
4,467
520
1,614
55,700
62,271
1,170
1,163
3,000
3,143
650
96
1,300
1,045
600
82
4,200
2,846
7,000
17,259
2,000
714
93.560
101.501
Aggregates 6,000 5,534
Materials 2,000 2,659
Equipment 1.500 1.300
138.850 142.722
Weed Control
Salaries 3,160 6,607
Overtime 120 62
Part -Time 3,030 2,424
Employee Benefits 590 1,209
Motor Vehicle Maintenance 1,170 3,458
Repairs and Maintenance 3,800 857
1 65
Snow and Ice Control
Salaries
24,350
30,219
Overtime
15,000
27,186
Employee Benefits
5,400
3,955
Communications
1,800
Motor Vehicle Maintenance
10,000
12,729
Repairs and Maintenance
20,000
22,380
Equipment Rental
1,000
Supplies
2,500
954
Motor Vehicle Supplies
5,300
2,226
Salt
44,000
33,580
Aggregates 6,000 5,534
Materials 2,000 2,659
Equipment 1.500 1.300
138.850 142.722
Weed Control
Salaries 3,160 6,607
Overtime 120 62
Part -Time 3,030 2,424
Employee Benefits 590 1,209
Motor Vehicle Maintenance 1,170 3,458
Repairs and Maintenance 3,800 857
1 65
VILLAGE OF DEERFIELD, ILLINOIS
STREET AND BRIDGE FUND
SCHEDULE OF EXPENDITURES BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED APRIL 30, 1992
Budget Actual
Highways and Streets (Cont.)
Public Works (Cont.)
Weed Control (Cont.)
Motor Vehicle Supplies $ 500 363
Materials 3,000 1,315
Equipment 600 550
15.970 16.845
Tree Removal
Salaries
13,100
7,549
Overtime
660
3,029
Part -Time
5,370
3,454
Employee Benefits
2,770
1,270
Contractual
27,000
28,399
Motor Vehicle Maintenance
820
1,425
Repairs and Maintenance
1,000
3,760
Motor Vehicle Supplies
400
753
Materials
500
860
Equipment
500
336
.Equipment Rental
500
947.940.
922.615
52.620
50.835
Tree Planting
Salaries
6,970
4,666
Overtime
440
29
Employee Benefits
1,900
670
Contractual
10,000
8,865
Motor Vehicle Maintenance
590
970
Repairs and Maintenance
300
972
Motor Vehicle Supplies
400
196
Materials
500
406
Materials
21.100
16.774
Railroad Station Maintenance
Salaries
5,000
7,914
Overtime
1,050
Part -Time
5,040
4,615
Employee Benefits
1,470
1,424
Contractual Services
6,500
3,965
Repairs and Maintenance
3,300
2,025
Supplies
1,500
192
Aggregates
600
188
Materials
7.900
3.119
32.360
23.442
Total Expenditures
947.940.
922.615
66
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1
1
1
1
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
ILLINOIS MUNICIPAL RETIREMENT FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1992
Excess (Deficiency) of Revenues
over Expenditures 32,000
Fund Balance
May 1
April 30
See accompanying Notes to the Financial Statements.
67
5,944 (61,968)
(219,758)
1992
(157,790)
1991
Budget
Actual
Actual
(213,814)
(219,758)
Revenues
Taxes
Property Taxes
$670,000
614,479
489,872
Replacement.Taxes
7,000
6,722
6,775
Interest
8,000
2,393
2,693
Total Revenues
685,000
623,594
499,340
Expenditures
Miscellaneous
Illinois Municipal Retirement
Payments - Employer
380,000
383,211
340,041
FICA Payments - Employer
273,000
234,439
221,267
653,000
617,650
561,308
Excess (Deficiency) of Revenues
over Expenditures 32,000
Fund Balance
May 1
April 30
See accompanying Notes to the Financial Statements.
67
5,944 (61,968)
(219,758)
(157,790)
(213,814)
(219,758)
VILLAGE OF DEERFIELD, ILLINOIS
MOTOR FUEL TAX FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1992
See accompanying Notes to the Financial Statements.
68
1992
1991
Budget
Actual.
Actual
Revenues
Intergovernmental
.Allotments Earned
$375,000
361,862
351,780
Interest
50.000
39.227
50.590
Total Revenues
425.000
401.089
402.370
Expenditures
Highways and Streets
Street Maintenance
200,000
200,000
195,000
Street Resurfacing and
Renovation Program
75,000
71,396
85,140
Bridge Rehabilitation
43,000
Traffic Signals
50.000
Total Expenditures
368.000
271.396
280.140
Excess of Revenues
over Expenditures
57,000
129,693
122,230
Other Financing Sources
Operating Transfers In
Infrastructure Replacement Fund
-
16.678
-
Excess of Revenues and Other Financing
Sources over Expenditures
57,000
146,371
122,230
Fund Balance
May 1
741.119
618.889
April 30
887.490
741.119
See accompanying Notes to the Financial Statements.
68
1
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1
1
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1
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
TRANSPORTATION FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1992
1992 1991
Budeet Actual Actual
Revenues
Intergovernmental
Grant $ 2,700 2,765 2,882
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
5.150 4.298 5.153
(2,450) (1,533) (2,271)
2.500 2.000 2.000
467 (271)
See accompanying Notes to the Financial Statements.
.69
5.823
6.094
6,290
5.823
VILLAGE OF DEERFIELD, ILLINOIS
ENHANCED 911 FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1992
See accompanying Notes to the Financial Statements.
70
1992
1991
Budget
Actual
Actual
Revenues
Charges for Services
Other Charges
$79,000
91,662
83,025
Interest
165
2
Total Revenues
79.000
91.827
83.027
Expenditures
Public Safety
Contractual
20,000
70,079
44,488
Repairs and Maintenance
850
Equipment
60,000
4,807
63,243
Improvements Other than Buildings
220
Miscellaneous
60
2.578
Total Expenditures
80.000
74.946
111.379
Excess (Deficiency) of Revenues
over Expenditures
(1,000)
16,881
(28,352)
Fund Balance
May 1
(53.250)
(24.898)
April 30
(36.369)
(53.250)
See accompanying Notes to the Financial Statements.
70
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DEBT SERVICE FUND
1
1
1
1
1
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IDebt Service Fnad
1
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1
1
1
1
1
1
1
DEBT SERVICE FUND
To account for the accumulation of resources for the payment of General I.ong-
Term Debt.
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
DEBT SERVICE FUND
BALANCE SHEET
APRIL 30, 1992
1992 1991
ASSETS
Cash and Investments $1,252,056 1,435,021
Receivables
Property Taxes 1,149,440 1,089,499
Accrued Interest 8,149 17,790
Due from Other Funds 524.493
Total Assets 2,934.138 2,542,310
LIABILITIES AND FUND BALANCE
Liabilities
Due to Other Funds 2,358 21,220
Deferred Property Taxes 1.278,563 1.226,344
Total Liabilities 1,280,921 1,247,564
Fund Balance
Reserved for Debt Service 1,653.217 1.294.746
Total Liabilities and Fund Balance 2,934,138 2,542,310
See accompanying Notes to the Financial Statements.
71
VILLAGE OF DEERFIELD, ILLINOIS
DEBT SERVICE FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1992
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
1992 1991
Budget Actual Actual
$1,328,563
46,000
85,000
1,259,336
46,781
101,570
1,544,970
47,149
127,682
245.000 224.011 247.575
1.704.563 1.631,698 1.967.376
895,000 895,000 835,000
927,212 970,307 992,600
5.000 4.370 2.992
1,827,212 1.869,677 1,830,592
(122.649) (237.979) 136.784
96,150 171,800 95,038
424.650
96.150 596.450 95.038
Excess (Deficiency) of Revenues and I
Other Financing Sources over
Expenditures () 358,471 231,822
Fund Balance I
May 1 1,294.746 1.062.924
April 30 1,653,217 1,294.746
See accompanying Notes to the Financial Statements.
72
VILLAGE OF DEERFIELD, ILLINOIS
DEBT SERVICE FUND
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1992
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1
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1
1 73
Budget Actual
Debt Service
Sewerage Improvement Bond Series of 1973
Principal
[ 50,000
Interest
[ 5,000
Sewerage Treatment Facility Bond Series of 1973
Principal
[ 150,000
Interest
[ 15,000
Corporate Purpose Bond Series of 1982
Principal
[ 50,000
'
Interest
[ 25,650
Corporate Purpose Bond Series 1982 -A
$1,827,212
'
Principal
Interest
[ 50,000
[ 12,750
Corporate Purpose Bond Series of 1986
Principal
[ 445,000
'
Interest
[ 680,588
General Obligation Bond Series of 1988
Principal
[ 150,000
Interest
[ 193,462
General Obligation Bond Series of 1991
Interest
[ 37,857
Fiscal Charges
f 4370
Total Expenditures
1,827.212 1.869.677
y� Y
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1 73
:�. , . ,
CAPITAL PROJECT FUNDS
1
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 Yates Road.
Vehicle Replacement Faced
I Established to account for the funds annually set aside for the eventual
replacement of certain vehicles.
Brickyard Park Fund
Established in 1988 to account for the construction and engineering of a park
' for Deerfield Park District located within the area known as The Brickyards.
' Capital Improvements Series 1988 Fund
Established in 1988 to provide funds for the acquisition of right -of -way for the
Access Avenue Project: traffic signal modification; sanitary sever and street
rehabilitation; the installment of a new 16 inch water main, and store
drainage improvements.
IInfrastructure Replacement Fund
Established in 1989 for the purpose of maintaining, repairing and renovating the
' capital assets of the Village.
1
1
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CAPITAL PROJECTS FUNDS (CONT.)
i
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 Fort 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.
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VILLAGE OF DEERFIELD, ILLINOIS
CAPITAL PROJECTS FUNDS
COMBINING BALANCE SHEET
APRIL 30, 1992
(See Following Page)
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PROPRIETARY FUND TYPES
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ENTERPRISE FUNDS
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tWater Fund
ENTERPRISE FUNDS
' 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.
1
Sewerage Fund
' To account for the provision of sewer service to the residents of the Village of
Deerfield. All activity necessary to provide such services is accounted for
in this fund including, but not limited to, administration, construction,
' maintenance, and operations of the Sewerage Treatment Plant.
Refuse Fund
To account for all revenues and expenses necessary to provide the residents of
the Village of Deerfield with refuse service.
Commuter Parking Lot Fund
' To account for all activity necessary to construct, operate, and maintain the
commuter parking facilities within the Village.
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VILLAGE OF DEERFIELD, ILLINOIS
ENTERPRISE FUNDS
rCOMBINING BALANCE SHEET
APRIL 30, 1992
ISee accompanying Notes to the Financial Statements.
76
Commuter
'
Parking
Totals
Water
Sewerage
Refuse
Lot
1992
1991
ASSETS
Current Assets
Cash and Investments
$1,998,390
1,389,286
80,966
451,298
3,919,940
3,494,557
Receivables
Property Taxes
651,794
651,794
645,640
'
Accounts
427,207
267,482
147,012
841,701
829,113
Accrued Interest
13,433
17,903
5,609
36,945
29,013
Other
117,783
8,786
2,475
129,044
150,456
Due from Other Funds
Inventories
27,838
5,358
33,196
17,618
34,578
Investment in Joint
Venture - Help
21.307
52.583
73.890
57.301
2,605,958
1,741,398
882,247
456,907
5,686,510
5,258,276
Fixed Assets (Net of
Accumulated Depreciation)
2.287.144
5.726.700
-
294.567
8.308.411
8.759.481
Total Assets
4.893.102
7.468.098
882.247
751.474
13.994.92_1
14.017.757
LIABILITIES AND FUND EQ UITY
Current Liabilities
'
Accounts Payable
128,121
86,120
135,583
1,384
351,208
298,549
Accrued Payroll
6,104
15,982
222
22,308
17,193
Compensated Absences Payable
42,095
106,494
148,589
100,581
Due to Other Funds
18.026
17.994
80.609
50.000
166.629
118.367
Total Liabilities
194.346
226.590
216.192
51.606
688.734
534.690
Fund Equity
Contributed Capital
1,780,830
5,860,504
271,132
7,912,466
8,148,018
Retained Earnings
'
Unreserved
2.917.926
1.381.004
666.055
428.736
5.393.721
5.335.049
Total Fund Equity
4.698.756
7.241.508
666.055
699.868
13.306.187
13.483.067
Total Liabilities and
'
Fund Equity
4.893.102
7.468.098
882.247
751.474
13.994.921
14.017_.757
ISee accompanying Notes to the Financial Statements.
76
VILLAGE OF DEERFIELD, ILLINOIS
ENTERPRISE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN RETAINED EARNINGS - UNRESERVED
FOR THE YEAR,ENDED APRIL 30, 1992
Depreciation
Operating Income (Loss)
Nonoperating Revenues
Interest Income
Income from Joint Venture
Property Taxes
Net Income (Lose)
before Operating Transfers
Operating Transfers In
Operating Transfers (Out)
Net Income (Loss)
Other Changes in Retained Earnings -
Unreserved
Depreciation that Reduces
Contributed Capital
Net Increase in Retained Earnings -
Unreserved
98.462 338.272 - 30.697 467.431 362.919
(8.921) (426.508) (767.730) 28.754 (1,174.405) (792.609) '
152,455
105,573
5,879
21,805
Commuter
254,269
4,783
11,806
Parking
Totals
I�
Water
Sewerage
Refuse
Lot
1992
1991
157.238
117.379
736.203
21.805
1.032.625
995.113
Operating Revenues
148.317
(309.129)
Charges for Services
50.559
(141.780)
202.504
'
Water Sales
$2,243,566
2,243,566
1,979,973
Sewer Charges
100,000
1,149,930
(36.320)
(35.930)
1,149,930
1,046,475
Refuse Billings
(113.530)
749,981
(35.930)
749,981
721,918
Parking Lot Fees
(13.530)
'
139,663
139,663
132,894
Surcharges
111,997
48,184
55,623
559
48,184
60,766
Miscellaneous
36,801
46,044
979
83,824
106,524
Total Operating Revenues
2.280.367
1.244.158
750.960
139.663
4.415.148
4.048.550
Operating Expenses Excluding
Depreciation
Administration
186,212
219,060
51,650
456,922
465,337
Operations
2.004.614
1.113.334
1.467.040
80.212
4.665.200
4.012.903
Total Operating Expenses
Excluding Depreciation
2,190,826
1.332.394
1.518.690
80.212
5.122.122
4.478.240
Operating Income (Lose)
before Depreciation
89,541
(88,236)
(767,730)
59,451
(706;974)
(429,690)
Depreciation
Operating Income (Loss)
Nonoperating Revenues
Interest Income
Income from Joint Venture
Property Taxes
Net Income (Lose)
before Operating Transfers
Operating Transfers In
Operating Transfers (Out)
Net Income (Loss)
Other Changes in Retained Earnings -
Unreserved
Depreciation that Reduces
Contributed Capital
Net Increase in Retained Earnings -
Unreserved
98.462 338.272 - 30.697 467.431 362.919
(8.921) (426.508) (767.730) 28.754 (1,174.405) (792.609) '
152,455
105,573
5,879
21,805
285,712
254,269
4,783
11,806
16,589
16,001
I�
730.324
730.324
724.843
157.238
117.379
736.203
21.805
1.032.625
995.113
148.317
(309.129)
(31,527)
50.559
(141.780)
202.504
'
100,000
100,000
100,000
(36.320)
(35.930)
(12.850)
(50.000)
(135.100)
(113.530)
(36.320)
(35.930)
87.150
(50.000)
(35.100)
(13.530)
'
111,997
(345,059)
55,623
559
(176,880)
188,974
43.687 164.838 - 27.027 235.552 186.301
155,684 (180,221) 55,623 27,586 58,672 375,275
Retained Earnings - Unreserved
May 1 - As Restated 2,762,242 1,561,225 610.432 401.150 5.335.049 4.959.774
April 30 2,917,926 1 381 004 666,055 428,736 5,393,721 5 335 049
See accompanying Notes to the Financial Statements. '
77 1
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VILLAGE OF DEERFIELD, ILLINOIS
ENTERPRISE FUNDS
COMBINING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED APRIL 30, 1992
Cash Flows from Noncapital Financing Activities
145,139
28,851
33,626
Commuter
1,864,680
Operating Transfers In
52,115
417,672
100,000
Parking
100,000
Operating Transfers (Out)
Water
Sewerage
Refuse
Lot
Totals
Other Nonoperating Revenues
3 919 940
730,324
730,324
Cash Flows from Operating Activities
(36.320)
(35.930)
817.474
(50.000)
695.224
Operating Income (Loss) $
(8,921)
(426,508)
(767,730)
28,754
(1,174,405)
Adjustments to Reconcile Operating Income to
Net Cash Provided by Operating Activities
-
(16.361)
-
-
(16,361)
Depreciation
98,462
338,272
30,697
467,431
Changes in Assets and Liabilities
(2,754,554)
(1,171,885)
(52,115)
(570,836)
(4,549,390)
Receivables
(5,272)
(6,970)
12,589
(5,609)
(5,262)
Due from Other Funds
1,694,345
619,969
17,618
153,164
17,618
Inventories
152,455
1,382
5.879
21.805
1,382
Investment in Joint Venture
(4,783)
(11,806)
(46.236)
(395,867)
(16,589)
Accounts Payable
22,431
5,175
32,894
(7,841)
52,659
Accrued Payroll
1,794
3,387
(66)
5,115
Compensated Absences Payable
11,191
36,817
48,008
Due to Other Funds
18.026
17.994
(37.758)
50.000
48.262
132.928
(42,257)
(742.387)
95.935
(555,781)
Cash Flows from Noncapital Financing Activities
145,139
28,851
33,626
341,326
1,864,680
Operating Transfers In
52,115
417,672
100,000
100,000
Operating Transfers (Out)
(36,320)
(35,930)
(12,850)
(50,000)
(135,100)
Other Nonoperating Revenues
3 919 940
730,324
730,324
(36.320)
(35.930)
817.474
(50.000)
695.224
Cash Flows from Capital and Related Financing
Activities
Fixed Assets Purchased
-
(16.361)
-
-
(16,361)
Cash Flows from Investing Activities
Purchase of Investment Securities
(2,754,554)
(1,171,885)
(52,115)
(570,836)
(4,549,390)
Proceeds from Sale and Maturities
of Investment Securities
1,694,345
619,969
153,164
2,467,478
Interest on Investments
152,455
105.573
5.879
21.805
285,712
(907,754)
(446.343)
(46.236)
(395,867)
(1,796.200)
Net Increase (Decrease) in Cash and
Cash Equivalents
Cash and Cash Equivalents
May 1
April 30
Cash and Investments
Cash and Cash Equivalents
Investments
(811,146) (540,891) 28,851 (349,932) (1,673,118)
944,856 686,030 - 383.558 2.014.444
133,710 145,139 28,851 33,626 341,326
133,710
145,139
28,851
33,626
341,326
1,864,680
1,244,147
52,115
417,672
3,578,614
1,998,390
1 389 286
80,966
451,298
3 919 940
Noncash Investing Capital and Financing Activities
The Water Fund and Sewerage Fund recorded an income on joint venture of $4,783 and $11,806, respectively.
See accompanying Notes to the Financial Statements.
`1j
VILLAGE OF DEERFIELD, ILLINOIS
WATER FUND
BALANCE SHEET
APRIL 30, 1992
ASSETS
Current Assets
1992 1991
Cash and Investments
$ 1,998,390
1,744,544
Receivables
Accounts - Billed
101,392
77,041
- Unbilled
325,815
316,682
Accrued Interest
13,433
17,968
Other
117,783
141,460
Inventories
27,838
27,838
Investment in Joint Venture - HELP
21.307
16.524
2.605.958
2.342.057
Fixed Assets
Cost 3,498,334 3,498,334
Accumulated Depreciation (1.211.190) (1.112.728)
2.287.144 2.385.606
Total Assets 4.893.102 4:727.663
LIABILITIES AND FUND EQUITY
Current Liabilities
Accounts Payable 128,121 105,690
Accrued Payroll 6,104 4,310
Compensated Absences Payable 42,095 30,904
Due to Other Funds 18.026
194.346 140.904
Fund Equity
Contributed Capital 1,780,830 1824,517
Retained Earnings
Unreserved 2.917.926 2762.242
Total Fund Equity 4.698.756 4.586.759
Total Liabilities and Fund Equity 4.893.102 4.727.663
See accompanying Notes to the Financial Statements.
VW
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VILLAGE OF DEERFIELD, ILLINOIS
WATER FUND
STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN RETAINED EARNINGS - UNRESERVED - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1992
Net Income before Operating Transfers
Operating Transfers (Out)
Vehicle Replacement 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 - as Restated
April 30
See accompanying Notes to the Financial Statements.
80
100.000 157.238 126.139
51,330 148,317 192,919
(36.320) (36.320) (33.280)
111,997 159,639
43.687 43.012
155,684 202,651
2.762.242 2.559.591
2,917 276�22�42
1992
1991
Budget
Actual
Actual
Operating Revenues
Charges for Services
Water Sales
$1,950,000
2,243,566
1,979,973
Miscellaneous
Permits and Fees
10,000
7,685
6,273
Penalties
22,000
27,429
20,991
Other
9,000
1.687
8.021
Total Operating Revenues
1.991.000
2.280.367
2.015.258
Operating Expenses Excluding Depreciation
Administration
188,150
186,212
193,362
Operations
Distribution
1,519,860
1,707,731
1,337,911
Maintenance - Mains and Fire
Hydrants
237,970
228,034
250,491
Maintenance - Meters
93.690
68.849
69.841
Total Operating Expenses
Excluding Depreciation
2,039.670
2.190.826
1.851.605
Operating Income (Loss)
before Depreciation
(48,670)
89,541
163,653
Depreciation
-
98.462
96.873
Operating Income (Loss)
(48.670)
(8.921)
66.780
Nonoperating Revenues
Interest Income
100,000
152,455
121,524
Income from Joint Venture
4.783
4.615
Net Income before Operating Transfers
Operating Transfers (Out)
Vehicle Replacement 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 - as Restated
April 30
See accompanying Notes to the Financial Statements.
80
100.000 157.238 126.139
51,330 148,317 192,919
(36.320) (36.320) (33.280)
111,997 159,639
43.687 43.012
155,684 202,651
2.762.242 2.559.591
2,917 276�22�42
VILLAGE OF DEERFIELD, ILLINOIS
WATER FUND
SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1992
Budget Actual
Administration
Salaries
$ 81,750
90,034
Overtime
2,970
3,075
Employee Benefits
14,330
12,585
Professional Services
5,200
Travel, Training and Dues
1,100
670
Printing and Advertising
800
1,374
Communications
10,300
10,135
Contractual Services
1500
1,599
Insurance
45,500
44,608
Motor Vehicle Maintenance
1,400
2,650
Miscellaneous
1,000
1,002
Supplies
1,000
1,517
Motor Vehicle Supplies
700
454
Occupancy
18,000
15,000
Apparel
1,800
1,481
Repairs and Maintenance
800
28
Total Administration
188.150
186.212
Operations
Distribution
Salaries
93,910
62,622
Overtime
9,450
14,427
Employee Benefits
10,820
9,254
Professional Services
5,500
4,200
Printing and Advertising
1,000
496
Contractual Services
8,600
7,256
Utility Services
76,400
73,298
Motor Vehicle Maintenance
2,500
2,802
Repairs and Maintenance
3,200
1,332
Miscellaneous
1,300
Purchase of Water
1,300,000
1,522,409
Supplies
500
439
.Motor Vehicle Supplies
1,000
1,296
Chlorine
1,000
Materials
1,200
4,026
Equipment
3.480
3.874
Total Distribution
1.519.860
1.707.731
81
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VILLAGE OF DEERFIELD, ILLINOIS
WATER FUND
SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED APRIL 30, 1992
Operations (Cont.)
Maintenance - Main and Fire Hydrants
Salaries
Overtime
Part -Time
Employee Benefits
Contractual Services
Motor Vehicle Maintenance
Repairs and Maintenance
Equipment Rental
Miscellaneous
Motor Vehicle Supplies
Small Tools and Equipment
Aggregates
Materials
Total Maintenance - Main and Fire Hydrants
Maintenance - Meters
Salaries
Overtime
Part -Time
Employee Benefits
Professional Services
Travel, Training and Dues
Printing and Advertising
Contractual Services
Motor Vehicle Maintenance
Repairs and Maintenance
Miscellaneous
Supplies
Motor Vehicle Supplies
Materials
Small Tools and Equipment
Equipment
Total Maintenance - Meters
Total Expenses
82
Budget Actual
$ 49,700
64,615
19,000
21,462
30,120
600
8,050
9,645
45,400
45,357
8,000
9,284
17,000
14,067
1,000
714
2,900
3,195
2,500
3,057
300
103
14,000
13,284
40.000
45.846
237.970 228.034
45,520
41,563
880
376
1,060
1,021
11,180
6,869
3,000
600
1,000
2,200
3,150
3,195
1,400
88
300
600
1,000
695
5,000
3,692
300
203
16.500
11.147
93.690 68.849
2.039.670 20190.826
VILLAGE OF DEERFIELD, ILLINOIS
WATER FUND
SCHEDULE OF FIXED ASSETS AND DEPRECIATION
FOR THE YEAR ENDED APRIL 30, 1992
Assets
Balances
May 1 Balances
As Restated Additions April 30
Water System $3,015,265 3,015,265
Equipment and Auto-
motive 483.069 483.069
3.498.334 - 3.498.334
Accumulated Depreciation
Balances
May 1 Balances
As Restated_ Additions Retirements April 30
Water System 753,300 63,998 817,298
Equipment and Auto-
motive 359.428 34.464 393.892
1,112.728 98.462 1.2114190
Net Asset Value 2j.287
83
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VILLAGE OF DEERFIELD, ILLINOIS
SEWERAGE FUND
BALANCE SHEET
APRIL 30, 1992
1992 1991
ASSETS
Current Assets
Cash and Investments
Receivables
Accrued Interest
Accounts - Billed
- Unbilled
Other
Inventories
Investment in Joint Venture - HELP
Fixed Assets
Cost
Accumulated Depreciation
Total Assets
LIABILITIES AND FUND EQUITY
Current Liabilities
Accounts Payable
Accrued Payroll
Compensated Absences Payable
Due to Other Funds
Total Liabilities
Fund Equity
Contributed Capital
Retained Earnings - Unreserved
Total Fund Equity
Total Liabilities and Fund Equity
See accompanying Notes to the Financial Statements.
84
$ 1,389,286 1,366,455
17,903
11,045
70,138
89,161
197,344
177,999
8,786
8,996
5,358
6,740
52.583
40.777
1.741.398
1.701.173
10,942,349 10,925,988
(5.215.649) (4.877.377)
5.726.700 6.048.611
7.468.098 7.749.784
86,120 80,945
15,982 12,595
106,494 69,677
17.994
226.590 163.217
5,860,504 6,025,342
1.381.004 1.561.225
7.241.508 7.586.567
7.468.098 7.749.784
VILLAGE OF DEERFIELD, ILLINOIS
SEWERAGE FUND
STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN RETAINED EARNINGS - UNRESERVED - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1992
Net (Loss) before Operating
Transfers
Operating Transfers (Out)
Vehicle Replacement Fund
Net (Loss)
Other Changes in Retained Earnings - Unreserved
Depreciation that Reduces Contributed Capital
Net Increase (Decrease) in Retained Earnings -
Unreserved
Retained Earnings - Unreserved
May 1 - As Restated
April 30
See accompanying Notes to the Financial Statements.
(176,569) (309,129) (81,477)
(35.930) (35.930) (30,250)
212 499) (345,059) (111,727)
164.838 116.262
(180,221) 4,535
1.561.225 1.556.690
1,381,004 1,561.225
1992
Budget
Actual
1991
Actual
Operating Revenues
Charges for Services
Sewer Charges
$1,147,000
1149,930
1,046,475
Surcharges - Construction
48,184
48,000
Surcharges - Sara Lee
12,766
Miscellaneous
Permits and Fees
10,000
10,927
5,990
Penalties
12,000
14,578
13,983
Other
15,000
20.545
38.167
Total Operating Revenues
1.184,000
1.244.164
1.165.381
Operating Expenses Excluding Depreciation
Administration
219,880
219,060
211,122
Operations
Treatment Plant
880,689
856,693
687,218
Cleaning and Maintenance
138,320
120,530
116,252
Construction
143.180
136.111
116.758
Total Operating Expenses
Excluding Depreciation
1.382.069
1.332.394
1.131.350
Operating Income (Loss)
before Depreciation
(198,069)
(88,230)
34,031
Depreciation
68.500
338.272
235,348
Operating (Loss)
(266,569)
(426.502)
(201.317)
Nonoperating Revenues
Interest Income
90,000
105,573
108,454
Income from Joint Venture
11.806
11.386
90.000
117.379
119,840
Net (Loss) before Operating
Transfers
Operating Transfers (Out)
Vehicle Replacement Fund
Net (Loss)
Other Changes in Retained Earnings - Unreserved
Depreciation that Reduces Contributed Capital
Net Increase (Decrease) in Retained Earnings -
Unreserved
Retained Earnings - Unreserved
May 1 - As Restated
April 30
See accompanying Notes to the Financial Statements.
(176,569) (309,129) (81,477)
(35.930) (35.930) (30,250)
212 499) (345,059) (111,727)
164.838 116.262
(180,221) 4,535
1.561.225 1.556.690
1,381,004 1,561.225
1
85
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VILLAGE OF DEERFIELD, ILLINOIS
SEWERAGE FUND
SCHEDULE OF OPERATING.EXPENSES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1992
11 Budget Actual
Administration
1 86
Salaries
$ 81,750
89,019
Overtime
3,600
3,158
Employee Benefits
14,330
12,576
-
Professional Services
200
Travel, Training and Dues
750
181
Printing and Advertising
100
64
Communications
4,700
3,852
Insurance
86,000
84,669
Motor Vehicle Maintenance
1,050
1,052
Repairs and Maintenance
1,300
Miscellaneous
Supplies
700
1,900
756
2,743
-
Motor Vehicle Supplies
1,000
1,025
Occupancy
18,000
15,000
Apparel
1,500
1,426
Contractual Services
3.000
3.539
Total Administration
219.880
219.060
Operations
Treatment Plant
Salaries
324,500
349,022
Overtime
10,000
10,528
Part -Time
5,250
3,260
Employee.Benefits
57,650
50,164
Professional Services
12,000
9,788
Travel, Training and Dues
1,550
1,507
Printing and Advertising
1,000
64
Communications
9,900
8,115
Contractual Services
34,500
45,962
Utility Services
183,000
187,412
Motor Vehicle Maintenance
3,500
Repairs and Maintenance
204,500
149,504
Equipment Rental
2,900
5,142
Supplies
12,900
18,706
Motor Vehicle Supplies
8,000
6,635
'
Chlorine
Aggregates
8,000
4,500
9,563
3,845
Materials
5,000
6,681
Street Signs
300
1 86
VILLAGE OF DEERFIELD, ILLINOIS
SEWERAGE FUND
SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED APRIL 30, 1992
Budget Actual
Operations (Cont.)
Treatment Plant (Cont.)
Small Tools and Equipment
$ 1,000
755
Apparel
1,700
1,756
Equipment
2,400
2,088
Miscellaneous
3.000
2.557
Total
897,050
873,054
Less Nonoperating Items
Fixed Assets Capitalized
16.361
16.361
Total Treatment Plant
880.689
856.693
Cleaning and Maintenance
Salaries
58,700
67,898
Overtime
4,850
4,134
Part -Time
2,800
1,892
Employee Benefits
12,410
11,001
Contractual Services
10,000
5,175
Motor Vehicle Maintenance
4,660
4,872
Repairs and Maintenance
5,000
5,155
Equipment Rental
3,000
1,114
Miscellaneous
2,000
978
Supplies
20,100
9,508
Motor Vehicle Supplies
1,500
665
Aggregates
2,000
2,359
Materials
7,000
4,701
Equipment
4,000
952
Small Tools and Equipment
300
126
Total Cleaning and Maintenance
138.320
120.530
87
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VILLAGE OF DEERFIELD, ILLINOIS
SEWERAGE FUND
SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED APRIL 30, 1992
88
Budget
Actual
Operations (Cont.)
Construction
Salaries
$ 81,780
83,772
Overtime
2,310
350
Part -Time
1,540
1,490
Employee Benefits
13,450
12,754
Contractual Services
5,000
1,226
Motor Vehicle Maintenance
6,440
7,227
Repairs and Maintenance
7,500
4,235
Equipment Rental
1,000
1,544
Supplies
2,000
1,314
Motor Vehicle Supplies
2,000
2,914
Aggregates
6,000
4,177
Materials
14,000
15,108
Small Tools and Equipment
200
Total Construction
143.220
136.111
Total Expenses
1,382,069
1 332 394
88
VILLAGE OF DEERFIELD, ILLINOIS
SEWERAGE FUND
SCHEDULE OF FIXED ASSETS AND DEPRECIATION
.FOR THE YEAR ENDED APRIL 30, 1992
Assets
Balances
May 1 Balances
As Restated Additions Retirements ADril 30
Sewer System $10,654,792 10,654,792
Equipment and Auto-
motive 271,196 16,361 287,557
10 925,988 16,361 10,9421349
Accumulated Depreciation
Balances
May 1 Balances
As Restated Additions Retirements April 30
Sewer.System and Plant 4,628,878 327,716 4,956,594
Equipment -and Auto-
motive 248,499 10,556 259,055
4,877,377 338,272 - 51215,649
Net Asset Value 5 72�6L00
89
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VILLAGE OF DEERFIELD, ILLINOIS
REFUSE FUND
BALANCE SHEET
APRIL 30, 1992
1992 1991
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 the Financial Statements.
90
$ 80,966
651,794 645,640
28,000 50,505
119,012 117,725
2,475
17.618
882,247 831,488
135,583 102,689
80.609 118.367
216,192 221,056
666.055
610.432
882.247
831.488
VILLAGE OF DEERFIELD, ILLINOIS
REFUSE FUND
STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN RETAINED EARNINGS - UNRESERVED - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1992
Operating Revenues
Charges. for Services
Refuse Billing
Miscellaneous
Total Operating Revenues
Operating Expenses
Administration
Operations
Contractual Services
Total Operating Expenses
Operating (Loss)
Nonoperating Revenues
Interest Income
Property Taxes
Net Income (Loss) before
Operating Transfers
Operating Transfers In (Out)
General Fund
Vehicle Replacement Fund
Net Income (Loss)
Retained Earnings - Unreserved
May 1
April 30
1992 1991
Budget Actual Actual
$ 758,980 749,981 721,918
979 13.099
758.980 750.960 735.017
84,530 51,650 60,853
1.555.790 1.467.040 1.393.031
1.640.320 1.518.690 1.453.884
(881.340) (767.730) (718.867)
5,000 5,879 3,687
725.000 730.324 724.843
730,000 736,203 728.530
(151,340) (31.527) 9.663
100,000 100,000
(12.850)
87.150 100.000
(1) 55,623 109,663
610.432 500.769
666,055 610,432
See accompanying Notes to the Financial Statements.
91
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VILLAGE OF DEERFIELD, ILLINOIS
COMMUTER PARKING LOT FUND
BALANCE SHEET
APRIL 30, 1992
1992 1991
ASSETS
Current Assets
Cash and Investments $ 451,298 383,558
Receivables - Accrued Interest 5.609
456.907 383.558
Fixed Assets
Cost 691,458 691,458
Accumulated Depreciation (396.891) (366.194)
294.567 325.264
Total Assets 7510474 708.822
LIABILITIES AND FUND EQUITY
Current Liabilities
Accounts Payable
1,384
9,225
Accrued Payroll
222
288
Due to Other Funds
50.000
Total Liabilities
51.606
9.513
Fund Equity
Contributed Capital
271,132
298,159
Retained Earnings - Unreserved
428.736
401.150
Total Fund Equity
699.868
699.309
Total Liabilities and Fund Equity
751.474
708.822
f
See accompanying Notes to the Financial Statements.
92
VILLAGE OF DEERFIELD, ILLINOIS
COMMUTER PARKING LOT FUND
STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN RETAINED EARNINGS - UNRESERVED - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1992
See accompanying Notes to the Financial Statements.
93
1992
1991
Budget
Actual
Actual
Operating Revenues
Parking Lot Fees
$134,500
139,663
132,894
Operating Expenses Excluding
Depreciation
Operations
88.280
80.212
41.401
Operating Income before
Depreciation
46,220
59,451
91,493
Depreciation
-
30.697
30.698
Operating Income
46,220
28,754
60,795
Nonoperating Revenues
Interest Income
17.000
21.805
20.604
Net Income before
Operating Transfers
63,220
50,559
81,399
Operating Transfers (Out)
Street and Bridge Fund
_(50.000)
(50.000)
(50.000)
Net Income
13,220
559
31,399
Other Changes in Retained Earnings -
Unreserved
Depreciation that Reduces
Contributed Capital
27.027
27.027
Net Increase in Retained Earnings -
Unreserved
27,586
58,426
Retained Earnings - Unreserved
May 1
401.150
342.724
April 30
428.736
401.150
See accompanying Notes to the Financial Statements.
93
1
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1
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1
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1
1
VILLAGE OF DEERFIELD, ILLINOIS
COMMUTER PARKING LOT FUND
SCHEDULE OF OPERATING EXPENSES - BUDGET,AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1992
Operations
Parking Lots - Village and Federal Funds
Salaries
Benefits
Insurance
Utility Service
Repairs and Maintenance
Supplies
Aggregates
Equipment
Property Rentals
Materials
Contractual
Total Parking Lots - Village and
Federal Funds
Parking Lots - Village Construction
Salaries
Contractual
Benefits
Insurance
Utility Services
Repairs and Maintenance
Supplies
Aggregates
Materials
Equipment
Total Parking Lots - Village Construction
Total Operating Expenses
1 94
Budget Actual
$ 4,700
4,142
890
624
290
273
4,500
4,176
2,500
636
600
5
500
5
500
7,500
7,440
800
973
29.700
26.222
52.480 44.491
4,820
4,116
21,700
26,222
890
640
340
273
4,500
4,355
1,000
76
700
5
250
1,500
34
100
35.800
35.721
88.280 80.212
VILLAGE OF DEERFIELD, ILLINOIS
COMMUTER PARKING LOT FUND
SCHEDULE OF FIXED ASSETS AND DEPRECIATION
FOR THE YEAR ENDED APRIL 30, 1992
Assets
Balances Balances
May 1 Additions Retirements April 30
Land $ 77,500 77,500
Parking Lot 613.958 613.958
691,458 - 691.458
Accumulated Depreciation
Balances Balances
Mav 1 Additions Retirements April 30
Parking Lot 366,194 30. 697 - 396.891
Net Asset Value 22A,561
95
1
1
1
1
1
L
1
1
INTERNAL SERVICE FUND
f
1
1
1
1
1
Garage Fund
INTERNAL SERVICE FUND
To account for all activity necessary to maintain the efficient and safe
operation of Village vehicles and equipment. The Garage is operated and
maintained by the Village of Deerfield and the various departments are billed
according to the services rendered.
1
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VILLAGE OF DEERFIELD, ILLINOIS
GARAGE FUND
BALANCE SHEET
APRIL 30, 1992
1992 1991
ASSETS
Receivables - Accounts $ 584 120
Inventories 60.484 57.305
Total Assets 61,068 57,425
LIABILITIES AND FUND EQUITY
Liabilities
Accounts Payable
3,555
6,667
Accrued Payroll
2,526
2,262
Compensated Absences Payable
31,390
28,086
Due to Other Funds
76.626
87.438
Total Liabilities
114,097
124,453
Fund Equity
Retained Earnings - Unreserved
(53.029)
(67.028)
Total Liabilities and Fund Equity
61,068
57,425
See accompanying Notes to the Financial Statements.
96
VILLAGE OF DEERFIELD, ILLINOIS
GARAGE FUND
STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN RETAINED-EARNINGS - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1992
See accompanying Notes to the Financial Statements.
97
1992
1991
Budget
Actual
Actual
Operating Revenues
Charges for Services
Billings
$204,300
208,489
187,900
Operating Expenses
Operations
196.950
194.490
188.408
Net Income (Loss)
�50
13,999
(508)
Retained Earnings
May 1
(67.028)
(66.520)
April 30
(53.029)
(67.028)
See accompanying Notes to the Financial Statements.
97
1
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1
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1
1
1
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VILLAGE OF DEERFIELD, ILLINOIS
GARAGE FUND
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED APRIL 30, 1992
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
Due to Other Funds
Cash Flows from Noncapital Financing Activities
Cash Flows from Capital and Related
Financing Activities
Cash Flows from Investing Activities
Net Increase in Cash and
Cash Equivalents
Cash and Cash Equivalents
May 1
April 30
See accompanying Notes to the Financial Statements.
98
$ 13,999
(464)
(3,179)
(3,112)
264
3,304
lil?)
VILLAGE OF DEERFIELD, ILLINOIS
GARAGE FUND
SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1992
Operations
Public Works Department
Salaries
Overtime
Employee Benefits
Apparel
Travel, Training and Dues
Printing and Advertising
Insurance
Miscellaneous
Professional Services
Contractual Services
Utility Services
Repairs and Maintenance
Supplies
Motor Vehicle Supplies
Equipment
Communications
Materials
Small Tools and Equipment
Total Operating Expenses
G11
Budget Actual
$ 85,780
91,831
8,400
6,628
15,580
13,615
500
370
700
22
400
308
7,200
6,727
200
118
50
100
1,159
2,200
1,348
5,000
5,812
62,300
60,281
500
281
3,440
3,280
2,500
983
600
465
1.500
1.262
196.950. 194.490
1
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FIDUCIARY FUND TYPES
11
TRUST AND AGENCY FUNDS
I
1
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IB:pendable Trust Fiord
TRUST AND AGENCY FUNDS
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 Faced - 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 Faced - to account for the monies on deposit with
the Village which are being held for the Deerfield Cemetery Association.
1
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VILLAGE OF DEERFIELD, ILLINOIS
EXPENDABLE TRUST FUND
CORPORATE PURPOSE BOND SERIES OF 1987
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE
FOR THE YEAR ENDED APRIL 30, 1992
Revenues
Interest
Expenditures
Interest
Excess of Revenues over
Expenditures
Fund Balance
May 1
April 30
See accompanying Notes to the Financial Statements.
101
$843,000
843.000
1
1
1
1
1
1
1
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
FOR THE YEAR ENDED APRIL 30, 1992
Net Income _64® 885,837 909,332
Fund Balance
May 1 7.494.864 6.585.532
April 30 8,380.7 01 78494,864
See accompanying Notes to the Financial Statements.
102
1992
1991
Budget
Actual
Actual
Operating Revenues
Taxes
Property Taxes
$160,000
161,101
149,961
Replacement Taxes
5,500
5,281
5,323
Contributions
Employee Contributions
155,000
139,756
136,638
Interest
650,000
809.346
772.839
Total Revenues
970.500
1.115.484
1.064.761
Operating Expenses
Benefits and Refunds
Pension Payments
301,500
216,190
154,844
Separation Refunds
20,000
12,438
Miscellaneous
Filing Fee
1.000
1.019
585
Total Operating Expenses
322.500
229.647
155.429
Net Income _64® 885,837 909,332
Fund Balance
May 1 7.494.864 6.585.532
April 30 8,380.7 01 78494,864
See accompanying Notes to the Financial Statements.
102
VILLAGE OF DEERFIELD, ILLINOIS
AGENCY FUNDS
COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
FOR THE YEAR ENDED APRIL 30, 1992
LIABILITIES
Accounts Payable
Deposits Payable
Due to Other Funds
Due to Participants
Total Liabilities
Deposit Fund
ASSETS
Cash and Investments
LIABILITIES
Accounts Payable
Deposits Payable
Due to Other Funds
Total Liabilities
Deferred Compensation
Plan Fund
ASSETS
Assets Held by Agents for
Deferred Plan (Market
Value)
LIABILITIES
Due to Participants
1,017 3,835 4,852
200,361 146,443 346,804
9,456 2,157 7,299
1-190.112 188.341 1.378.453
1,400,946 338 619 2,157 1.737.408
188.557 147.608 336.165
747 3,744 4,491
178,354 146,021 324,375
9.456 2.157 7.299
188,557 149,765 2.157 336.165
1.190.112 188.341 - 1.378.453
1,190,112 188 341 - 1.378.453
103
Balances
Balances
May 1
Additions Deductions
April 30
All Funds
ASSETS
Cash and Investments
$ 210,834
147,972
358,806
Receivables
Accrued Interest
149
149
Assets Held by Agents for
Deferred Compensation
Plan (Market Value)
1.190.112
188.341
1.378.453
Total Assets
1,400,946
336 462 -
1,737,408
LIABILITIES
Accounts Payable
Deposits Payable
Due to Other Funds
Due to Participants
Total Liabilities
Deposit Fund
ASSETS
Cash and Investments
LIABILITIES
Accounts Payable
Deposits Payable
Due to Other Funds
Total Liabilities
Deferred Compensation
Plan Fund
ASSETS
Assets Held by Agents for
Deferred Plan (Market
Value)
LIABILITIES
Due to Participants
1,017 3,835 4,852
200,361 146,443 346,804
9,456 2,157 7,299
1-190.112 188.341 1.378.453
1,400,946 338 619 2,157 1.737.408
188.557 147.608 336.165
747 3,744 4,491
178,354 146,021 324,375
9.456 2.157 7.299
188,557 149,765 2.157 336.165
1.190.112 188.341 - 1.378.453
1,190,112 188 341 - 1.378.453
103
1
1
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1
1
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1
1
1
1
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
AGENCY FUNDS
COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES (CONT.)
FOR THE YEAR ENDED APRIL 30, 1992
LIABILITIES
Accounts Payable
Deposits Payable
Total Liabilities
270 91 361
22,007 422 22.429
22,277 513 - 22 790
See accompanying Notes to the Financial Statements.
104
Balances
Balances
May 1
Additions
Deductions April 30
Deerfield Cemetery
Association Fund
ASSETS
Cash and Investments
$22,277
364
22,641
Receivables - Accrued Interest
149
149
Total Assets
22,277
513
- 22 790
LIABILITIES
Accounts Payable
Deposits Payable
Total Liabilities
270 91 361
22,007 422 22.429
22,277 513 - 22 790
See accompanying Notes to the Financial Statements.
104
1
1
1
i
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
IVA
ACCOUNT GROUPS
i
1
1
1
1
1
1
1
1
1
1
1
1
1
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1
1
GENERAL FIXED ASSETS ACCOUNT GROUP
1
1
1
I
1
' GENERAL FIXED ASSETS
ACCOUNT GROUP
' Fixed assets used in rations are
ope no accounted ount c ed for in gaver�ental funds.
General fixed assets include all fixed assets not accounted for in Proprietary
Funds or in ?rust Funds.
1
1
1
1
1
1
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VILLAGE OF DEERFIELD, ILLINOIS
GENERAL FIXED ASSETS ACCOUNT GROUP
SCHEDULE OF GENERAL FIXED ASSETS - BY SOURCE
APRIL 30, 1992
GENERAL FIXED ASSETS
Land
Buildings and Improvements
Vehicles
Equipment
INVESTMENT IN GENERAL FIXED ASSETS
General Revenues
Tax Incremental Financing Bonds
General Obligation Bonds
Installment Contracts
105
$ 3,381,444
4,873,494
846,639
1.756.525
101858,102
4,857,093
4,101,009
1,500,000
400.000
10,8581102
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VILLAGE OF DEERFIELD, ILLINOIS
GENERAL FIXED ASSETS ACCOUNT GROUP
SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS - BY FUNCTION
FOR THE YEAR ENDED APRIL 30, 1992
107
Balances
May 1
Balances
Function
As Restated
Additions Retirements
April 30
General Government
$ 2,792,233
287,337
3,079,570
Public Safety
2,769,536
186,111 80,439
2,875,208
Public Works
4,825,836
77,488
4,903,324
10,387,605
550,936 80,439
10,8588102
107
GENERAL LONG TERM DEBT ACCOUNT GROUP
1
1
1
1
' GENERAL LONG -TERM DEBT
' ACCOUNT GROUP
To account for the noncurrent portion of the government's Bond Issue liabilities.
1
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SUPPLEMENTARY DATA .
VILLAGE OF DEERFIELD, ILLINOIS
ILLINOIS MUNICIPAL RETIREMENT FUND
REQUIRED SUPPLEMENTARY INFORMATION
ANALYSIS OF FUNDING PROGRESS
APRIL 30, 1992
1
f
u
(During the implementation transition period all information required is
presented for as many years as is available.)
' Analysis of the dollar amounts of net assets available for benefits, pension
benefit obligation, and unfunded pension benefit obligation in isolation can be
misleading. Expressing the net assets available for benefits as a percentage of
the pension benefit obligation provides one indication of funding status on a
going- concern basis. Analysis of this percentage over time indicates whether the
system is becoming financially stronger or weaker. Generally, the greater this
' percentage, the stronger the PERS. Trends in unfunded pension benefit obligation
and annual covered payroll are both affected by inflation. Expressing the
unfunded pension benefit obligation as a percentage of annual covered payroll
approximately adjusts for the effects of inflation and aids analysis of progress
made in accumulating sufficient assets to pay benefits when due. Generally, the
smaller this percentage, the stronger the PERS.
11 109
(1)
(4)
(6)
Net Assets
Unfunded
Unfunded Pension
Available
(2)
(3)
Pension
(5)
Benefit Obligation
for Benefits
Pension
Percentage
Benefit
Annual
as a Percentage
Calendar
(Lower of Cost
Benefit
Funded
Obligation
Covered
of Covered Payroll
Year
or Market)
Obligation
(1) + (2)
(2) - (1)
Payroll
(4) + (5)
1988
$1,488,727
3,137,943
47.44%
1,649,216
2,529,121
65.21
1989
1,770,910
3,489,507
50.75
1,718,597
2,636,443
65.19
1990
2,320,255
4,464,450
51.97
2,144,195
2,800,891
76.55
1991
2,916,035
4,709,444
61.92
1,793,409
2,990,934
59.96
1
f
u
(During the implementation transition period all information required is
presented for as many years as is available.)
' Analysis of the dollar amounts of net assets available for benefits, pension
benefit obligation, and unfunded pension benefit obligation in isolation can be
misleading. Expressing the net assets available for benefits as a percentage of
the pension benefit obligation provides one indication of funding status on a
going- concern basis. Analysis of this percentage over time indicates whether the
system is becoming financially stronger or weaker. Generally, the greater this
' percentage, the stronger the PERS. Trends in unfunded pension benefit obligation
and annual covered payroll are both affected by inflation. Expressing the
unfunded pension benefit obligation as a percentage of annual covered payroll
approximately adjusts for the effects of inflation and aids analysis of progress
made in accumulating sufficient assets to pay benefits when due. Generally, the
smaller this percentage, the stronger the PERS.
11 109
VILLAGE OF DEERFIELD, ILLINOIS
POLICE PENSION FUND
REQUIRED SUPPLEMENTARY INFORMATION
ANALYSIS OF FUNDING PROGRESS
APRIL 30, 1992
1989
$5,692,830
4,823,277
(4)
(869,278)
(6)
(63.00)
1990
6,425,063
Unfunded
123.00
Unfunded (Assets
(1)
(81.00)
1991
(Assets in
6,309,081
in Excess of)
Net Assets
1,565,933
(75.72)
Excess of)
8,380,701
Pension Benefit
Available
(2)
(3)
Pension
(5)
Obligation as
for Benefits
Pension
Percentage
Benefit
Annual
a Percentage of
Fiscal (Lower of Cost
Benefit
Funded
Obligation
Covered
Covered Payroll
Year or Market)
Obligation
(1) + (2)
(2) - (1)
Payroll
(4) + (5)
1989
$5,692,830
4,823,277
118.00%
(869,278)
1,380,114
(63.00)
1990
6,425,063
5,242,623
123.00
(1,182,440)
1,460,008
(81.00)
1991
7,494,864
6,309,081
118.79
(1,185,783)
1,565,933
(75.72)
1992
8,380,701
7,017,405
119.43
(1,363,296)
1,552,844
(87.79)
(During the implementation transition period all information required is
presented for as many years as is available.)
Analysis of the dollar amounts of net assets available for benefits, pension
benefit obligation, and unfunded pension benefit obligation in isolation can be
misleading. Expressing the net assets available for benefits as a percentage of
the pension benefit obligation provides one indication of funding status on a
going- concern basis. Analysis of this percentage over time indicates whether the
system is becoming financially stronger or weaker. Generally, the greater this
percentage, the stronger the PERS. Trends in unfunded pension benefit obligation
and annual covered payroll are both affected by inflation. Expressing the
unfunded pension benefit obligation as a percentage of annual covered payroll
approximately adjusts for the effects of inflation and aids analysis of progress
made in accumulating sufficient assets to pay benefits when due. Generally, the
smaller this percentage, the stronger the PERS.
110
1
1
1
1
1
1
i
1
1
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
ILLINOIS MUNICIPAL RETIREMENT FUND
REQUIRED SUPPLEMENTARY INFORMATION
REVENUES BY SOURCE
APRIL 30, 1992
N/A - Not Available
111
Employer
Revenues by
Source
Contributions as
Calendar
Employee
Employer
Investment
a Percentage of
Year
Contributions
Contributions
Income
Totals
Payroll
1982
73,144
102,696
N/A
175,840
8.32
1983
78,651
114,848
N/A
193,499
8.32
1984
82,899
127,571
N/A
210,470
8.30
1985
89,372
151,116
N/A
240,488
8.30
1986
95,745
167,152
N/A
262,897
8.27
1987
103,137
179,472
N/A
282,609
8.21
1988
113,907
204,352
N/A
318,259
8.08
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
N/A - Not Available
111
VILLAGE OF DEERFIELD, ILLINOIS
POLICE PENSION FUND
REQUIRED SUPPLEMENTARY INFORMATION
REVENUES BY SOURCE AND EXPENSES BY TYPE
APRIL 30, 1992
Employer
Contributions
as a
Revenues by Source Percentage
Fiscal Employee Employer Investment of Covered
Year Contributions Contributions Income Totals Payroll
1983
$ 76,123
127,124
212,511
415,758
14.40%
1984
83,022
140,265
265,078
488,365
14.56
1985
86,623
156,125
315,417
558,165
14.53
1986
97,525
173,723
361,378
632,626
14.52
1987
99,923
180,434
458,868
739,225
15.08
1988
107,902
150,024
473,397
731,323
12.08
1989
83,619
155,430
488,746
727,795
11.26
1990
127,777
160,461
562,558
850,796
11.00
1991
136,638
155,284
772,839
1,064,761
9.92
1992
139,756
166,382
809,346
1,115,484
10.71
Expenses by Type
Fiscal Administrative
Year Benefits Expenses Refunds Totals
1983
$ 29,403
200
23,003
52,606
1984
37,455
75
37,530
1985
65,912
25
10,873
76,810
1986
66,736
937
1,137
68,810
1987
83,885
99
17,050
101,034
1988
87,859
53
87,912
1989
88,660
1,620
90,280
1990
117,720
568
118,288
1991
154,844
585
155,429
1992
216,190
1,019
12,438
229,647
112
VILLAGE OF DEERFIELD, ILLINOIS
' SCHEDULE OF INSURANCE IN FORCE
APRIL 30, 1992
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
101000
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.
113
VILLAGE OF DEERFIELD, ILLINOIS
LONG -TERM DEBT REQUIREMENTS
SEWERAGE IMPROVEMENT BOND SERIES OF 1973
APRIL 30, 1992
Date of Issue
Date of Maturity
Authorized Issue
Actual Issue
Denomination of Bonds
Interest Rates
Principal Maturity Date
Interest Dates
Payable at
June 1, 1973
December 1, 1992
$1,080,000
1,080,000
5,000
4.4% -5.1%
December 1
June 1 and December 1
Belleville National Savings Bank
PRINCIPAL AND INTEREST REQUIREMENTS
Tax
Levy Bond Tax Levy Interest Due on
Year Numbers Principal Interest Totals Dec. 1 Amount June 1 Amount
1990 1,250 1,250 1992 1,250
1991 207-216 $50.000 1.250 51.250 1992 1.250
50,000 2,500 52,500 1 125500
114
' VILLAGE OF DEERFIELD, ILLINOIS
LONG -TERM DEBT REQUIREMENTS
SEWERAGE TREATMENT FACILITIES BOND SERIES OF 1973
APRIL 30, 1992
1
Date of Issue
June 1, 1973
INTEREST
Date of Maturity
December 1, 1992
Authorized Issue
$2,000,000
Actual Issue
2,000,000
M
Denomination of Bonds
5,000
Interest Rates
4.4% -6.0%
Principal Maturity Date
December 1
Totals
Interest Dates
June 1 and December 1
Payable at
Belleville National Savings Bank
1
1
1
1
1
1
1
1 115
PRINCIPAL AND
INTEREST
REQUIREMENTS
Tax
Levy
Bond Tax Lew
Interest Due on
Year
Numbers Principal Interest
Totals
Dec. 1 Amount June 1
Amount
1990
3,750
3,750
1992
3,750
1991
371 -111 1150.000 3.750
150.000 7.500
153.750
1992 3.750
157.500
3&750
33 750
1
1
1
1
1
1
1 115
VILLAGE OF DEERFIELD, ILLINOIS
LONG -TERM DEBT REQUIREMENTS
CORPORATE PURPOSE BOND SERIES OF 1982
APRIL 30, 1992
Date of Issue
Date of Maturity
Authorized Issue
Actual Issue
Denomination of Bonds
Interest Rates
Principal Maturity Date
Interest Dates
Payable at
October 1, 1982
December 1, 1994
$500,000
500,000
5,000
9.60% - 10.25%
December 1
June 1 and December 1
The Northern Trust Company
PRINCIPAL AND INTEREST REQUIREMENTS
*Tax
Levy
Bond
Tax Lew
Interest Due on
Year
Numbers
Principal
Interest
Totals
June 1
Amount
Dec. 1
Amount
1992
56 -70
$ 75,000
21,150
96,150
1992
10,575
1992
10,575
1992
71-85
75,000
14,250
89,250
1993
7,125
1993
7,125
1993
86-100
75.000
7.200
82.200
1994
3.600
1994
3.600
225.000
42.600
267 600
2211300
22`
* The government abates the tax levy on this bond issue annually. The debt is
being retired with transfers from the Tax Incremental Finance District 1
Fund.
116
1
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I
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t
El
1
1
VILLAGE OF DEERFIELD, ILLINOIS
LONG -TERM DEBT REQUIREMENTS
CORPORATE PURPOSE BOND SERIES OF 1982 -A
APRIL 30, 1992
Date of Issue
Date of Maturity
Authorized Issue
Actual Issue
Denomination of Bonds
Interest Rates
Principal Maturity Date
Interest Dates
Payable at
December 1, 1982
December 1, 1993
$500,000
500,000
5,000
7.0% - 8.5%
December 1
June 1 and December 1
American Fletcher National
Bank, Indianapolis
PRINCIPAL AND INTEREST REQUIREMENTS
Tax
Levy
..Bond
Tax Levy
Interest
Due on
Year
Numbers
Principal
Interest
Totals
June 1 Amount
Dec. 1
Amount
1991
81 -90
$ 50,000
8,500
58,500
1992 4,250
1992
4,250
1992
91 -100
50.000
4.250
54.250
1993 2.125
1993
2.125
100,000
12,750
112,750
6d.375
6i
117
VILLAGE OF DEERFIELD, ILLINOIS
LONG -TERM DEBT REQUIREMENTS
CORPORATE PURPOSE BOND SERIES OF 1986
APRIL 30, 1992
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
PRINCIPAL AND INTEREST REOUIREMENTS
Tax
Levy
Bond
Tax Lew
Interest Due on
Year
Numbers
Principal
Interest
Totals
July 1
Amount
Jan. 1
Amount
1991
312
- 408
$ 485,000
646,100
1,131,100
1992
323,050
1993
323,050
1992
409
- 511
515,000
608,513
1,123,513
1993
304,256
1994
304,257
1993
512
- 620
545,000
568,600
1,113,600
1994
284,300
1995
284,300
1994
621
- 736
580,000
529,905
1,109,905
1995
264,952
1996
264,953
1995
737
- 860
620,000
492,785
1,112,785
1996
246,392
1997
246,393
1996
861
- 992
660,000
452,485
1,112,485
1997
226,242
1998
226,243
1997
993
- 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
9,445,000
5 041 189
14 486 189
22 520 5_905_90
2 520 599
118
1
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1
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C'
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1
VILLAGE OF DEERFIELD, ILLINOIS
LONG -TERM DEBT REQUIREMENTS
CORPORATE PURPOSE BOND SERIES OF 1987
APRIL 30, 1992
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
Requirements
Interest
Due on
Year
Numbers
Principal
Interest
Totals
April 8
Amount
Oct. 8
Amount
1990
421,500
421,500
1992
421;500
1991
"-
843,000
843,000
1993
421,500
"1993
421,500
1992
843,000
843,000
1994
421,500
1994
421,500
1993
843,000
843,000
1995
421,500
1995
421,500
1994
843,000
843,000
1996
421,500
1996
421,500
.1995
843,000
843,000
1997
421,500
1997
421,500
1996
843,000
843,000
1998
421,500
1998
421,500
1997
843,000
843,000
1999
421,500
1999
421,500
1998
843,000
843,000
2000
421,500
2000
421,500
1999
1 - 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
8.263.500
18.263.500
3.921.000
44 3,�
119
VILLAGE OF DEERFIELD, ILLINOIS
LONG -TERM DEBT REQUIREMENTS
GENERAL OBLIGATION BOND SERIES OF 1988
APRIL 30, 1992
Date of Issue
Date of Maturity
Authorized Issue
Denomination of Bonds
Interest Rates
Interest Dates
Principal Maturity Date
Payable at
November 1, 1988
January 1, 2004
$3,000,000
5,000
6.50%, 6.60%, 6.70% - 6.75%, 6.80%,
6.90%, and 8.0%
January 1 - July 1
January 1
American National Bank and Trust Company
of Chicago
CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Tax
Levy
Bond
Tax Levy
Interest
Due on
Year
Numbers
Principal
Interest
Totals
July 1
Amount
Jan. 1
Amount
1991
76
- 105
$ 150,000
181,462
331,462
1992
90,731
1993
90,731
1992
106
- 135
150,000
169,462
319,462
1993
84,731
1994
84,731
1993
136
- 170
175,000
157,462
332,462
1994
78,731
1995
78,731
1994
171
- 205
175,000
146,088
321,088
1995
73,044
1996
73,044
1995
206
- 245
200,000
134,712
334,712
1996
67,356
1997
67,356
1996
246
- 285
200,000
121,512
321,512
1997
60,756
1998
60,756
1997
286
- 330
225,000
108,112
333,112
1998
54,056
1999
54,056
1998
331
- 375
225,000
92,925
317,925
1999
46,462
2000
46,463
1999
376
- 425
250,000
77,625
327,625
2000
38,812
2001
38,813
2000
426
- 480
275,000
60,375
335,375
2001
30,187
2002
30,188
2001
481
- 540
300,000
41,400
341,400
2002
20,700
2003
20,700
2002
541
- 600
300.000
20.700
320.700
2003
10.350
2004
10.350
2,625,000
1 311 835
3,936,835
65.0 5_916
65®5, 919
120
1
VILLAGE OF DEERFIELD, ILLINOIS
LONG -TERM DEBT REQUIREMENTS
' GENERAL OBLIGATION BOND SERIES OF 1991
APRIL 30, 1992
I Date of Issue July 1, 1991
Date of Maturity January 1, 1997
Authorized Issue $1,500,000
Denomination of Bonds 5,000
Interest Rates 5.20 - 5.80%
Interest Dates January 1 - July 1
Principal Maturity Date January 1
' Payable at American National Bank and Trust Company
of Chicago
n
'
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
1991
1 -
'60
$ 300,000
124,650
424,650
1992
62,325
1993
62,325
1992
61 -
120
300,000
67,500
367,500
1993
33,750
1994
33,750
1993
121 -
-180
300,000
51,300
351,300
1994
25,650
1995
25,650
1994
181 -
240
300,000
34,500
334,500
1995
17,250
1996
17,250
1995
241 -
300
300.000
17.400
317.400
1996
8.700
1997
8.700
■
1,500.000
295.350
1.795.350
147675
14
* The overnment abates the tax le on this bond issue annually. e
8 levy lly. Th debt is being retired with transfers from
the Tax Incremental Finance District 2 Fund.
1
1
[j
1 121
1
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1
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1
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1 Statistical Section
u
1
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1
IVILLAGE OF DEERFIELD, ILLINOIS
' PROPERTY TAX ASSESSED VALUATIONS, RATES, EXTENSIONS, AND COLLECTIONS
LAST TEN FISCAL YEARS
APRIL 30, 1992
1
1
1
I(See Following Page)
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VILLAGE OF DEERFIELD ILLINOIS
' SCHEDULE OF DIRECT AND OVERLAPPING BONDED DEBT
APRIL 30, 1992
(2)
* Percentage of
(1) Debt Applicable ** Village's
Gross Debt to the Village Share of Debt
Governmental Unit
' Less Debt Service and
Expendable Trust Funds
Village of Deerfield 11,653,217 11,653,217
Total Gross Debt Less
Available Amount 2,128,278,693 21,268,711
1
* - Determined by ratio of assessed value of property subject to taxation
' in overlapping unit to value of property subject to taxation.
** - Amount in column (2) multiplied by amount in column (1).
' Data Source
(1) Office of the County Clerk
(2) Office of the County Clerk
' 128
Village of Deerfield
$ 24,095,000
100.000%
24,095,000
'
Metropolitan Sanitary District.
876,305,000
.053
464,442
Lake County and Forest Preserve
126,104,827
.246
310,218
Cook County
1,026,383,341
.098
1,005,856
Cook County Forest Preserve
3,875,000
.062
2,403
-,
North Shore Sanitary District
25,817,871
.026
6,713
Deerfield Park District
1,975,000
96.771
1,911,227
Northbrook Park District
13,855,000
.488
67,612
'
Highland Park Park District
1,370,000
1.617
22,153
Deerfield School District #109
4,175,000
71.126
2,969,510
Highland Park Elementary #108
5,048,000
6.201
313,026
'
Township High School #113
2,650,000
27.376
725,464
Junior College #532
15,677,871
4.846
759,750
Oakton Community College #535
12,000,000
.247
29,640
Lake County Special Service Area #5
600.000
39.819
238.914
Total Gross Debt
2,139,931,910
32,921,928
' Less Debt Service and
Expendable Trust Funds
Village of Deerfield 11,653,217 11,653,217
Total Gross Debt Less
Available Amount 2,128,278,693 21,268,711
1
* - Determined by ratio of assessed value of property subject to taxation
' in overlapping unit to value of property subject to taxation.
** - Amount in column (2) multiplied by amount in column (1).
' Data Source
(1) Office of the County Clerk
(2) Office of the County Clerk
' 128
VILLAGE OF DEERFIELD, ILLINOIS
SCHEDULE OF LEGAL DEBT MARGIN
APRIL 30, 1992
The government is a home rule municipality.
Article VII, Section 6(k) of the 1970 Illinois Constitution governs computation
of the legal debt margin.
"The General Assembly may limit by law the amount and require referendum
approval of debt to be incurred by home rule municipalities, payable from
ad valorem property tax receipts, only in excess of the following
percentages of the assessed value of its taxable property... (2) if its
population is more than 25,000 and less than 500,000 an aggregate of one
per cent:... indebtedness which is outstanding on the effective date (July
1, 1971) of this constitution or which is thereafter approved by referendum
shall not be included in the foregoing percentage amounts."
To date the General Assembly has set no limits for home rule municipalities.
Illustrative Computation of Debt Margin
if Village Were Not a Home Rule Municipality
Village of Deerfield is a home rule municipality and as such has no debt
limitations. If, however, the Village were a non -home rule village its available
debt limit would be as follows:
Equalized Assessed Valuation - 1991
Legal Debt Limit - 8.625
Amount of Debt Applicable to Limit
Sewerage Improvement Bonds
$ 50,000
Sewerage Treatment Facility Bonds
150,000
Corporate Purpose Bond Series
1982
225,000
Corporate Purpose Bond Series
1982 -A
100,000
Corporate Purpose Bond Series
1986
9,445,000
Corporate Purpose Bond Series
1987
10,000,000
General Obligation Bond Series
1988
2,625,000
General Obligation Bond Series
1991
1.500.000
Total
24,095,000
Available Funds
(11.653.217)
Legal Debt Margin
$522,438,968
45,060,361
12.441.783
32,618,578
The Village has available funds in the Debt Service and Expendable Trust Funds
in the amount of $11,653,217.
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VILLAGE OF DEERFIELD, ILLINOIS
DEMOGRAPHIC STATISTICS
LAST TEN FISCAL YEARS
APRIL 30, 1992
1983
(3)
41,000
34.7
50.4
Percentage of
2.1%
1984
17,500
People Over
35.4
50.7
(2)
25 Years of
(4)
(5)
Per
(2) Age With Four
School
Unemploy-
Fiscal (1) Household
Median or More Years
Enroll-
ment
Year Population Income
Age of College
ment
Percentage
1983
17,487
41,000
34.7
50.4
3,933
2.1%
1984
17,500
45,000
35.4
50.7
3,788
1.9
1985
17,500
45,400
36.1
50.8
3,703
2.0
1986
17,500
46,100
36.5
51.0
3,715
1.7
1987
17,500
47,500
36.8
51.1
3,602
1.3
1988
17,500
48,100
37.2
51.3
3,276
1.1
1989
17,500
50,900
37.4
51.5
3,238
.9
1990
17,500
53,600
37.5
51.8
3,106
1.0
1991
17,327
55,000
37.7
48.8
3,277
1.0
1992
17,327
71,966
36.3
48.3
3,251
1.2
Data Sources
(1) 1983 -1992 were derived from data from the Department of Commerce and
Community Affairs
(2) The 1983 -1992 based upon Deerfield Chamber of Commerce figures.
(3) Percentage of people over 25 years of age or over with 4 or more years of
College education. Northeastern Illinois Planning Commission.
(4) Enrollment figures derived from combined enrollment of District 109 (grade
school), and District 113 (high school).
(5) Unemployment figures based on 1/4 of Lake County figures.
131
1
' VILLAGE OF DEERFIELD, ILLINOIS
1
1
1
1
1
J
Data Sources
t(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.
1 132
PROPERTY VALUE,
CONSTRUCTION,
AND BANK DEPOSITS
'
LAST TEN FISCAL YEARS
APRIL 30, 1992
(1)
(1)
Commercial
Residential
(3)
'
Construction
Construction
(2)
Total
Fiscal
Number
Number
Bank
Property
Year
of Units Value
of Units
Value
Deposits
Value
'
1983
84
$20,369,020
104
5,673,638
63 218 000
711,000,000
1984
52
12,146,201
46
5,131,160
63,877,000
708,000,000
'
1985
101
34,504,614
50
6,552,552
64,750,000
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
1
1
1
1
1
J
Data Sources
t(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.
1 132
VILLAGE OF DEERFIELD, ILLINOIS
PRINCIPAL TAXPAYERS
APRIL 30, 1992
Percentage
Data Source
Office of the County Clerk
133
1991
of Total
Assessed
Assessed
Taxpayers
Type of Business
Valuation
Valuation
Deerfield - Saunders
Parkway North Office
Joint Venture
Building
$ 23,770,903
4.55
Stein and Company
Lake Cook Office Center
16,595,160
3.18
Matas Corporation
Corporate 500 Center
14,706,895
2.82
Arbor Lake Center
Office Building
14,232,175
2.72
VMC, Inc.
Deerbrook Shopping Center
13,933,331
2.67
Baxter International
Office Buildings
12,575,617
2.41
Tollway North
Tollway North Office Park
7,746,443
1.48
Hyatt - Deerfield
Hotel
6,310,557
1.21
Lake - Cook Plaza
Shopping Center
4,063,383
.78
Sara Lee
Bakery Products
3.439.565
.66
117.374.029
22.48
Data Source
Office of the County Clerk
133
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
Date of Incorporation
Form of Government
Geographic Location
Population
1960
1970
1980
1990
VILLAGE OF DEERFIELD, ILLINOIS
MISCELLANEOUS STATISTICS
APRIL 30, 1992
Municipal Services & Facilities
Number of Full -Time Employees
Miles of Streets
Miles of Alleys
Miles of Sewers
Building Inspection
Number of Permits Issued in 1992
Fire Protection
Number of Firemen and Officers
Number of Stations
134
1903
Manager /Council
North Suburban
Chicago
11,748
18,876
17,430
17,327
97
70
4
140
769
21