Village CAFR For Year Ended April 30, 1987o
_ I COMPREHENSIVE
� ANNUAL
' for the year ended
FINANCIAL April 30, 1987
� REPORT
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VILLAGE OF DEERFIELD, ILLINOIS
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1 COMPREHENSIVE
1
ANNUAL
1 FINANCIAL REPORT
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� FOR THE
FISCAL YEAR ENDED
' APRIL 30, 1887
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PREPARED BY
GEORGE VALENTINE
FINANCE DIRECTOR
� VILLAGE OF DEERFIELD, ILLINOIS
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TABLE OF CONTENTS
INTRODUCTORY SECTION
Principal Officials
Organizational Chart
Certificate of Achievement for Excellence in Financial Reporting
Letter of Transmittal
FINANCIAL SECTION
AUDITORS' REPORT ON THE FINANCIAL STATEMENTS
COMBINED STATEMENTS - OVERVIEW ( "Liftable" General
Purpose Financial Statements)
Combined Balance Sheet - All Fund Types
and Account Groups
Combined Statement of Revenues, Expenditures,
and Changes in Fund Balances - All
Governmental Fund Types
Combined Statement of Revenues, Expenditures,
and Changes in Fund Balances - Budget and Actual -
General, Special Revenue, and Debt Service Fund Types
Combined Statement of Revenues, Expenses, and Changes
in Retained Earnings /Fund Balances - All Proprietary
and Fiduciary (Pension Trust) Fund Types
Combined Statement of Changes in Financial Position
All Proprietary and Fiduciary (Pension Trust)
Fund Types
Notes to the Financial Statements
FINANCIAL STATEMENTS OF INDIVIDUAL FUNDS
GOVERNMENTAL FUND TYPES
GENERAL FUND
General Fund
Financial Statements
Balance Sheet
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual
PAGE
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iv -ix
1 -2
3
4
5
6
7
8 -39
40
41
TABLE OF CONTENTS (CONT.)
PAGE
FINANCIAL SECTION (CONT.)
GOVERNMENTAL FUND TYPES (CONT.)
GENERAL FUND (CONT.)
Supplemental Statements
Statement of Revenues - Budget and Actual 42
Statement of Expenditures - Budget and Actual 43 -45
SPECIAL REVENUE FUNDS
All Funds
Financial Statements
Combining Balance Sheet 46
Combining Statement of Revenues, Expenditures,
and Changes in Fund Balances 47
Municipal Audit Fund
Financial Statements
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual 48
Emergency Services Disaster Fund
Financial Statements
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual
49
Youth Bound Fund
Financial Statements
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual
so
Library Fund
Financial Statements
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual
51
Supplemental Statements
Statement of Expenditures - Budget and Actual
52
TABLE OF CONTENTS (CONT.)
IFINANCIAL SECTION (CONT.)
all GOVERNMENTAL FUND TYPES (CONT.)
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SPECIAL REVENUE FUNDS (CONT.)
Street and Bridge Fund
Financial Statements
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual
Supplemental Statements
Statement of Expenditures - Budget and Actual
Illinois Municipal Retirement Fund
Financial Statements
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual
Public Benefit Fund
Financial Statements
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual
Federal Revenue Sharing Fund
Financial Statements
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual
Motor Fuel Tax Fund
Financial Statements
Statement of P.evenues, Expenditures, and
Changes in Fund Balance - Budget and Actual
Transportation Fund
Financial Statements
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual
PAGE
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54 -58
59
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61
62
63
TABLE OF CONTENTS (CONT.)
PAGE
FINANCIAL SECTION (CONT.)
GOVERNMENTAL FUND TYPES (CONT.)
DEBT SERVICE FUND
Debt Service Fund
Financial Statements
Balance Sheet 64
Statement of Reveues, Expenditures, and Changes
in Fund Balance - Budget and Actual 65
Supplemental Statements
Statement of Expenditures - Budget and Actual 66
CAPITAL PROJECTS FUNDS
All Funds
Financial Statements
Combining Balance Sheet 67
Combining Statement of Revenues, Expenditures,
and Changes in Fund Balances 68
SPECIAL ASSESSMENT FUNDS
Special Assessment Funds
All Funds
Financial Statements
Combining Balance Sheet 69
Combining Statement of Revenues, Expenditures,
and Changes in Fund Balances 70
PROPRIETARY FUND TYPES
ENTERPRISE FUNDS
All Funds
Financial Statements
Combining Balance Sheet 71
Combining Statement of Revenues, Expenses, and
Changes in Retained Earnings - Unreserved 72
Combining Statement of Changes in
Financial Position 73
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TABLE OF CONTENTS (CONT.)
PAGE
FINANCIAL SECTION (CONT.)
PROPRIETARY FUND TYPES (CONT.)
ENTERPRISE FUNDS (CONT.)
Water Fund
Financial Statements
Balance Sheet
74
Statement of Changes in Retained
Earnings -
Reserved - Restricted Accounts
75
Statement of Revenues, Expenses,
and Changes in
87
Retained Earnings - Unreserved
- Budget and Actual
76
Supplemental Statements
Retained Earnings -
Budget and
Statement of Operating Expenses
-
Commuter Parking Lot Fund
Budget and Actual
77 -79
Statement of Fixed Assets and Depreciation
80
Sewerage Fund
Financial Statements
Balance Sheet 81
Statement of Revenues, Expenses, and Changes in
Retained Earnings - Unreserved - Budget and Actual 82
Supplemental Statements
Statement of Operating Expenses - Budget and Actual 83 -85
Statement of Fixed Assets and Depreciation 86
Refuse Fund
Financial Statements
Balance Sheet
87
Statement of Revenues,
Expenses,
and Changes in
Retained Earnings -
Budget and
Actual
88
Commuter Parking Lot Fund
Financial Statements
Balance Sheet
89
Statement of Revenues,
Expenses,
and Changes in
Retained Earnings -
Budget and
Actual
90
Supplemental Statements
Statement of Operating
Expenses
- Budget and Actual
91
Statement of Fixed Assets
and Depreciation
92
TABLE OF CONTENTS (CONT.)
PAGE
FINANCIAL SECTION (CONT.)
PROPRIETARY FUND TYPES (CONT.)
INTERNAL SERVICE FUND
Garage Fund
Financial Statements
Balance Sheet 93
Statement of Revenues, Expenses, and Changes in
Retained Earnings - Budget and Actual 94
Statement of Changes in Financial Position 95
Supplemental Statements
Statement of Operating Expenses - Budget and Actual 96
FIDUCIARY FUND TYPES
TRUST AND AGENCY FUNDS
All Funds
Financial Statements
Combining Balance Sheet 97
Statement of Revenues, Expenses, and Changes
in Fund Balance - Budget and Actual
(Pension Trust Fund) 98
Statement of Changes in Financial
Position (Pension Trust Fund) 99
Combining Statement of Changes in Assets and
Liabilities (Agency Funds) 100
ACCOUNT GROUPS
GENERAL FIXED ASSETS ACCOUNT GROUP
Financial Statements
Statement of General Fixed Assets 101
Supplemental Statements
Statement of General Fixed Assets - By Function
and Activity 102
Statement of Changes in General Fixed Assets -
By Function and Activity 103
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TABLE OF CONTENTS (CONT.)
PAGE
FINANCIAL SECTION (CONT.)
ACCOUNTS GROUPS (CONT.)
GENERAL LONG -TERM DEBT ACCOUNT GROUP
Financial Statements
Statement of General Long -Term Debt 104
SUPPLEMENTARY DATA
Combined Statement of Cash and Investments 105
Long -Term Debt Requirements
Sewerage Improvement Bond Series
of 1973
106
Sewerage Treatment Facilities
Bond Series of 1973
107
Corporate Purpose Bond Series
of
1983
108
Corporate Purpose Bond Series
of
1982
109
Corporate Purpose Bond Series
of
1982 -A
110
Corporate Purpose Bond Series
of
1986
111
Water Revenue Bond Series of
1960
112
Water Revenue Bond Series of
1959
113
Statement of Officer's Deposits
(Police Pension Fund)
114
Statement of Insurance in Force 115
STATISTICAL SECTION
General Governmental Expenditures by Function -
Last Ten Fiscal Years 116
General Governmental. Revenues By Source - Last Ten Fiscal Years 117
Property Tax Assessed Valuations, Rates, Extensions and
Collections - Last Ten Fiscal Years 118
Assessed and Estimated Actual Values of Taxable
Property - Last Ten Fiscal Years 119
Property Tax Rates - All Overlapping Governments -
Last Ten Fiscal Years 120
TABLE OF CONTENTS (CONT.)
PAGE
STATISTICAL SECTION (CONT.)
Special Assessment Collections - Last Ten Fiscal Years 121
Ratio of Net General Bonded Debt to Assessed Value
and Net Bonded Debt Per Capita - Last Ten Fiscal Years 122
Statement of Legal Debt Margin 123
Statement of Direct and Overlapping Debt 124
Ratio of Annual Debt Service Expenditures for General
Bonded Debt to Total General Governmental Expenditures -
Last Ten Fiscal Years 125
Statement of Revenue Bond Cov
Last Ten Fiscal Years
Demographic Statistics - Last
Property Value, Construction,
Last Ten Fiscal Years
Principal Taxpayers
Miscellaneous Statistics
erage - Water and Sewer Bonds -
126
Ten Fiscal Years 127
and Bank Deposits -
128
129
130
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Introductory Section
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VILLAGE OF DEERFIELD, ILLINOIS
PRINCIPAL OFFICIALS
APRIL 30, 1987
LEGISLATIVE
VILLAGE BOARD OF TRUSTEES
Bernard Forrest, President
Harriett
Rosenthal
Edwin B.
Seidman
James L.
Marovitz
Vernon E.
Swanson
Cynthia
T. Marty
T. Robert
York
Naomi S. Clampitt, Clerk
ADMINISTRATIVE
Robert Franz, Village Manager
FINANCE DEPARTMENT
George Valentine, Director of Finance /Treasurer
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Certificate of
Achievement
for Excellence
in Financial
.Reporting
Presented to
Village of
Deerfield, Illinois
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
April 30, 1986
A Certificate of Achievement for Excellence in Financial
Reporting is presented by the Government Finance Officers
Association of the United States and Canada to
' governmental units and public employee retirement
systems whose comprehensive annual financial
repots (CAFR's) are judged to substantially
conform to program standards.
.' OF THE
UNITED suns
AND \ 9 President
W H
' f CANADA
d
CORPORATION i
S AC�
ms's
SEAL ,f .4 ( ✓ 11 /
CxgA60
Executive Director
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October 20, 1987
E R F I E L D ILLINOIS
Mr. Robert Franz, Village Manager
Village of Deerfield
Deerfield, Illinois 60015
Dear Mr. Franz:
850 WAUKEGAN ROAD s DEERFIELD, ILLINOIS 60015
The Comprehensive Annual Financial Report of the Village of Deerfield
for the fiscal year ending April 30, 1987, is submitted herein. This
report was prepared by the Village Finance Department. Responsibility
for both the accuracy of the presented data and the completeness and
fairness of the presentation, including all disclosures, rests with the
Village. The organization and content of this report, including the
financial statements, exhibits, and statistical tables, follow the
standards for financial reporting recommended by the National Council
on Governmental Accounting and its successor, the Government Accounting
Standards Board. I believe that the data, as presented, is accurate in
all material aspects, that it is presented in a manner designed to
fairly set forth the financial position and results of operations of the
Village as measured by the financial activity of its various funds, and
that all disclosures necessary to enable the reader to gain the maximum
understanding of the Village's financial affairs have been included.
Accounting System and Budgetary Control
In. developing and evaluating the Village's accounting system,
consideration is given to the adequacy of internal accounting controls.
Internal accounting controls are designed to provide reasonable, but not
absolute, assurance regarding: (1) the. safeguarding of assets a ainst
financial loss from unauthorized use or disposition, and (2� the
reliability of financial records for preparing financial statements and
maintaining accountability for assets. The concept of reasonable
assurance recognizes that: (1) the cost of a control should not exceed
the benefits likely to be derived from it, and (2) the evaluation of
costs and benefits requires estimates and judgements by management.
All internal control evaluations occur within the above framework. I
believe that the Village's internal accounting controls adequately
safeguard assets and provide reasonable assurance of proper recording of
financial transactions.
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Budgetary control is maintained at the departmental and subdepartmental
level through a system of purchase orders and a monthly reporting system
which reports actual versus estimated expenditures for the time period.
The Reporting Entity and Its Services
This report includes all of the funds and account groups of the Village.
It also includes all activities considered to be part of (controlled by
or dependent on) the Village as determined by the application of the
criteria set forth in "Defining the Governmental Reporting Entity - NCGA
Statement 3 ". In accordance with NCGA Statements 3 and 7, for financial
reporting purposes the Village's financial statements include all funds,
account groups, departments, agencies, boards, commissions and other
organizations over which Village officials exercise oversignt
responsibility.
Oversight responsibility includes such aspects as appointment of
governing body members, budget approval, approval of property tax
levies, outstanding debt secured by Village full faith and credit or
revenues, responsibility for funding deficits and others.
The Village considered the following entities when implementing NCGA
Statements 3 and 7. Although these entities are similar in nomenclature
and scope of public service, the criteria in Statement 3 did not require
the inclusion of these entities in the Village's financial statements as
components units principally because the Village does not exercise
oversight responsibility over such entities. Listed below are the
entities that were considered.
Deerfield Bannockburn Fire Proection District
Highland Park Mosquito Abatement District
North Shore Sanitary District
Municipal Insurance Cooperative Agency
(reported as proprietary joint venture - Note 5)
The Village of Deerfield, Illinois, was incorporated April 14, 1903.
The Village- -operates under a Board- Manager form of government and
provides the following services as authorized by its .charter: public
safety, highways and streets, sanitation, health and social services,
cultural, public improvements, planning and zoning; and general
administrative services.
Separate reports and financial statements have been prepared for the
1 Police Pension Board and the Public Library Board. These financial
statements and reports are also contained within this report which
combines all the funds under the Village's jurisdiction.
General Governmental Functions
Revenues for the General Fund, Special Revenue, and Debt Service Funds
totaled $7,478,586. This is an increase of 14.4% over 1986. Taxes
produced 71.9% of general revenues compared to 63.4% last year. Of the
amount listed as taxes, $2,784,086 was property tax revenue. The prior
property tax extension was $2,101,602 for an increase of 32.5 %. Of the
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increase of $682,480 in Property Taxes, $597,006 was in Debt Service.
Sales Tax is also included in the general category of taxes in the
amount of $1,765,031, including $124,805 which represents a one time
speedup in the State of Illinois collections process. Without the one
time change, Sales Tax increased of 4.5 %.
1987 REVENUE
1986
1985
1984 1983
PPuur pose
Tax Rate*
Tax Rate*
Increase
,
Gene Fund
ral
.117
Percent
(Decrease)
Revenue Source
Amount
of Total
from 1986
Taxes
$5,337,545
71.9
$1,229,733
Licenses and Permits
576,740
7.7
40,350
'
Intergovernmental Rev.
Charges for Services
346,420
228,204
4.6
3.1
(205,508)
84,164
Fines and Forfeits
257,723
3.4
(131,829)
Miscellaneous Revenues
695,954
9.3
(76,359)
Expenditures for General,
Special
Revenue, and Debt Service Fund
purposes totaled $17,803,234,
an increase
TOTAL
$7,478,586
100.00
$ 940,551
The current year (1985) tax levy collections were approximately 100.5%. ,
Property taxes which are delinquent more than one year are written off;
subsequent collections of such taxes are reflected as 'prior year
revenues' in the year collected. Allocation of property tax levy by
purpose for 1986 and the preceding three levy years is as follows:
1986
1985
1984 1983
PPuur pose
Tax Rate*
Tax Rate*
Tax Rate* Tax Rate*
,
Gene Fund
ral
.117
.168
.183 .191
Special Revenue Funds
.459
.483
.446 .427
General Obligation Debt
.414
.467
.232 .207
Pension Trust Funds
.064
.067
.062 .060
'
Enterprise Funds
.156
.156
.151 .148
TOTAL TAX RATE*
1.210
1.341
1.074 1.033
*Rate per $100
of equalized
assessed valuation
Expenditures for General,
Special
Revenue, and Debt Service Fund
purposes totaled $17,803,234,
an increase
of 288%
over the prior year.
1987 EXPENDITURES
Increase
Percent
(Decrease)
Function
Amount
of Total
from 1986
,
enema –Government
$ 1,196,644
---6 -.--T—
$
Public Safety
2,139,940
12.0
113,645
Highways & Street
916,490
5.1
(25,876)
Culture & Recreation
805,872
4.5
(51,354)
Misc. Expenditures
354,733
2.0
39,653
Debt Service
12,389,555
69.6
11,339,305
TOTAL
$17,803,234
100.00
$11,616,677
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The Village called its floating rate debt and replaced it with
traditional General Obligation Debt. This magnified the Village's Debt
Service Fund expenditures by $11,000,000. Without this the 1987
expenditures would appear as below.
In this case, expenditures for General, Special Revenue, and Debt
Service Fund purposes totaled $6,803,234, an increase of 10.5% over the
prior year.
Debt Administration
The ratio of bonded debt to assessed valuation and the amount of bonded
debt per capita are useful indicators of the Village's debt position to
municipal management, citizens, and investors. The data for the Village
at the end of the 1987 fiscal year is as follows:
Outstanding General Obligation Bonds by Issue
Sewerage Improvement Bonds Series of 1973
Sewerage Treatment Facility Bonds Series of 1973
Corporate Purpose Bond Series of 1982 -A
Capital Purpose Bond, Series 1986
TOTAL
Other Debt to be Abated from T.I.F. District
Corporate Purpose 1982 Bond Series of 1982
Corporate Purpose 1983 Bond Series of 1983
TOTAL
GRAND TOTAL BONDED DEBT
Less: DEBT SERVICE FUNDS
NET BONDED DEBT
Ratio of Net Debt to
Amount Assessed Value
Net Bonded Debt $12,069,036 4.32%
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$ 400,000
800,000
350,000
10,900,000
$12,450,000
$ 450,000
250,000
$ 700,000
$13,150,000
1,080,964
$12,069,036
Net Debt
Per Capita
$690
Increase
Percent
(Decrease)
Function
Amount
of Total
from 1986
General Government
$ 1,196,644
17.6
$ 201,314
Public Safety
2,139,940
31.5
113,635
Highways & Streets
916,490
13.5
(25,876)
Culture & Recreation
805,872
11.8
(51,354)
Misc. Expenditures
354,733
5.2
39,653
Debt Service
1,389,555
20.4
339,305
TOTAL
$ 6,803,234
100.00
$ 616,677
In this case, expenditures for General, Special Revenue, and Debt
Service Fund purposes totaled $6,803,234, an increase of 10.5% over the
prior year.
Debt Administration
The ratio of bonded debt to assessed valuation and the amount of bonded
debt per capita are useful indicators of the Village's debt position to
municipal management, citizens, and investors. The data for the Village
at the end of the 1987 fiscal year is as follows:
Outstanding General Obligation Bonds by Issue
Sewerage Improvement Bonds Series of 1973
Sewerage Treatment Facility Bonds Series of 1973
Corporate Purpose Bond Series of 1982 -A
Capital Purpose Bond, Series 1986
TOTAL
Other Debt to be Abated from T.I.F. District
Corporate Purpose 1982 Bond Series of 1982
Corporate Purpose 1983 Bond Series of 1983
TOTAL
GRAND TOTAL BONDED DEBT
Less: DEBT SERVICE FUNDS
NET BONDED DEBT
Ratio of Net Debt to
Amount Assessed Value
Net Bonded Debt $12,069,036 4.32%
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$ 400,000
800,000
350,000
10,900,000
$12,450,000
$ 450,000
250,000
$ 700,000
$13,150,000
1,080,964
$12,069,036
Net Debt
Per Capita
$690
Moody's Investor Service upgraded the Village's General Obligation Debt
to Aa from A 1 on July 1, 1982. This rating was last confirmed on
April 24, 1986.
Cash Management
Cash temporarily idle during the year was invested in repurchase
agreements (Library only), certificates of deposit, and treasury bills.
Funds held for the Police Pension Fund are invested in treasury bonds
and notes, treasury strip coupons. As of April 30, 1987, the total
amount invested by the Village was 99.8% of available funds. The total
interest earnings for the year for all funds, including the pension
funds, was $1,790,540. For the prior fiscal year, the total amount
earned was $1,099,147.
General Fixed Assets
The General Fixed Assets of the Village are those fixed assets used on
the performance of general governmental functions, excluding the fixed
assets of the Enterprise funds. As of April 30, 1987, the general fixed
assets of the Village amounted to $4,693,006. This amount represents
the original cost or estimated original cost of the assets and is
considerably less than their present value. Depreciation of general
fixed assets is not recognized in the Village's accounting system.
Enterprise Funds
The Village's Water Fund had total
operating expenses of $1,517,663,
depreciation of $335,207. Revenue
April 30, 1987, was 6.61.
operating revenues of $1,852,870 and
or a total operating income before
bond coverage for the year ending
The Sewerage Fund had operating revenues of $1,098,333, operating ex-
penses of $912,051, for an operating income before depreciation of
$186,282. The Refuse Fund had operating revenues of $444,063 and
operating expenses of $863,790, for an operating loss of $419,727.
However, there was a property tax levy for $429,127 for refuse purposes.
This revenue source more than adequately covers the operating loss. The
commuter parking lots' revenues were $90,953, with operating expenses of
$26,214, for an operating income of $64,739.
Prospects for the Future
The Village's Tax Incremental Financing District #1 (TIF) was founded in
June, 1982, to facilitate growth and development in the Lake -Cook
corridor portion of the Village, primarily the area known as the
Brickyards. The district's increased equalized assessed valuation over
its frozen cap has been: 1982 - $4,143,104; 1983 - $7,247,225; 1984 -
$19,483,923; 1985 - $26,641,540; 1986 - $31,010,143. This growth has
been faster than had been anticipated.
Fund Balance Designations
The Village is establishing several designations
balances.
viii
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of general fund I
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Area improvements: Brickyards ($322,000). This design is for the
improvements to the area described as the Brickyards.
Area Improvements: Downtown ($1,200,000). These funds will be utilized
to enable the Village to encourage development /redevelopment in the
central business district.
Independent Audit
State statutes require an annual audit of the books of account, fiscal
records and transactions of all administrative departments of the
Village by independent certified public accountants selected by the
Board of Trustees. This requirement has been complied with, and the
auditor's opinion has been included in this report.
Certificate of Achievement for Excellence in Financial Reporting
The Government Finance Officers Association of the United States and
Canada (GFOA) awards a Certificate of Achievement for Excellence in
Financial Reporting to units of government for the comprehensiveness of
its financial report.
In order to be awarded a Certificate of Achievement for Excellence in
Financial Reporting, a governmental unit must publish an easily readable
and efficiently organized comprehensive annual financial report, whose
contents conform to program standards. Such reports must satisfy both
generally accepted accounting principles and applicable legal
requirements.
The Village was first awarded a Certificate of Achievement for
Excellence in Financial Reporting for its April 30, 1984, report, and
was also awarded the Certificate for the April 30, 1985, report and
April 30, 1986, report. I believe our current report substantially
conforms to Certificate of Conformance Program requirements. We are
submitting this report to GFOA to determine its continuing eligibility
for a certificate.
Acknowledgements
The preparation of this report on a timely basis could not be
accomplished without the efficient and dedicated services of the entire
staff of the Finance Department. I would like to express my
appreciation to all members of the department who assisted and
contributed to its preparation. I would also like to thank the
president and members of the Board of Trustees for their interest and
support in planning and conducting the financial operations of the
Village in a responsible and progressive manner.
Re ectfully submitted,
George. 4len ine
Finance Director
Village of Deerfield
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AUDITOR'S. OPINION
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'!Certified Public Accountants
L
The Honorable Bernard Forrest, Mayor
Members of the Board of Trustees
Village of Deerfield Deerfield, Illinois
We have examined the combined financial statements of the Village of
Deerfield, Illinois and the combining, individual fund, and account
group financial statements of the Village as of and for the year ended
April 30, 1987 as listed in the table of contents. Our examination was
made in accordance with generally accepted auditing standards and,
accordingly, included such tests of the accounting records and such
other auditing procedures as we considered necessary in the
circumstances.
In our opinion, the combined financial statements referred to above,
present fairly the financial position of the Village of Deerfield,
' Illinois at April 30, 1987, and the results of its operations and the
changes in financial position of its proprietary fund types and similar
trust funds for the year then ended, in conformity with generally
' accepted accounting principles applied on a basis consistent with that
of the preceding year. Also, in our opinion, the combining, individual
fund, and account group financial statements referred to above, present
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Bank of Wheaton Building • 211 South Wheaton Avenue • Wheaton, Illinois 60187 • (312) 665 -4510
1
fairly the
financial
position of
the individual funds
and account
groups of the Village of Deerfield,
Illinois at April 30,
1987, and the
results of
operations
of such funds
and the changes
in financial.
position of
individual
proprietary
funds and similar trust funds for
the year then
ended, in
conformity
with generally accepted
accounting
principles
applied on
a basis consistent with that of
the preceding
year.
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Bank of Wheaton Building • 211 South Wheaton Avenue • Wheaton, Illinois 60187 • (312) 665 -4510
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Our examination was made for the purpose of forming an opinion on the
combined financial statements taken as a whole and on the combining,
individual fund, and account group financial statements. The accompany-
ing financial information listed as supplemental in the table of contents
is presented for purposes of additional analysis and is not a required
part of the combined financial statements of the Village of Deerfield,
Illinois. The information has been subjected to the auditing procedures
' applied in the examination of the combined, combining, individual fund,
and account group financial statements and, in our opinion, is fairly
stated in all material respects in relation to the combined financial
statements taken as a whole.
' The statistical information listed in the Table of Contents was not
examined by us and accordingly, we do not express an opinion thereon.
at
Karrison & Byrne
Jul y 31 , 1987
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COMBINED STATEMENTS - OVERVIEW
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VILLAGE OF DEERFIELD, ILLINOIS
ALL FUND TYPES AND ACCOUNT GROUPS
COMBINED BALANCE SHEET
APRIL 30, 1987
(See Following Page)
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E
Vnam OF DEERF7ELD, ILLINOIS
ALL PROPRIETARY AND FIDUCIARY PENSION TRUST) FUND TYPES
•r is i�� �a i� �►�•
rX in r I D1 IN X.RIQ P i 00=11z iit : 0
Operating Revenues
Taxes
Charges for Services
Contributions
Miscellaneous
Total Operating Revenues
Operating Expenses
Administration
Operations
Depreciation
Benefits and Refunds
Miscellaneous
Total Operating Expenses
Operating Income (Loss)
Nonoperating Revenues (Expenses)
Interest Income
Property Taxes
Interest Expense
Net Income (loss) before
Operating Transfers
Operating Transfers In (Out)
Net Income (loss)
Retained Earnings - Unreserved/
Fund Balance
May 1
April 30
FOR THE YEAR ELIDED APRIL 30, 1987
Proprietary Fiduciary
Fund Types Fund Types Totals
Internal Pension (Memorandum Only)
Enterprise Service Trust 1987 1986
$ 180,434 $ 180,434 $ 173,723
$3,373,086
$125,369
3,772,538
3,498,455
2,977,605
$2,050,529
$ (8,305)
99,923
99,923
97,525
113,133
458,868
572,001
476,893
$3,486,219
$125,369
$ 739,225
$4,350,813
$3,725,746
$ 312,189
$ 312,189
$ 251$14
3,007,529
$150,335
3,157,864
2,785,706
298,505
298,505
282,857
$ 100,935
100,935
67,873
99
99
937
$3,618,223
$150,335
$ 101,034
$3,869,592
$3,388,687
$ (132,004) $(24,966) $ 638,191 $ 481,221 $ 337,059
$ 107,256
424,717
(5,738)
$ 526,235 - -
$ 394,231 $(24,966) $ 638,191
(20,000) - 9000
$ 374,231 $(24,966) $ 639,091
$ 107,256 $ 95,084
424,717 399,219
(5,738) (7,438)
$ 526,235 $ 486,865
$1,007,456 $ 823,924
(19,100) (20,000)
$ 988$56 $ 803,924
1,676,298
16,661
3,772,538
5,465,497
4,661,573
$2,050,529
$ (8,305)
$4,411,629
$6,453,853
$5,465,497
See accompanying Notes to the Financial Statements.
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1.
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
Summary of Significant Accounting Policies
The accounting policies of the Village of Deerfield, Illinois conform to
generally accepted accounting principles as applicable to governments. The
following is a summary of the more significant policies.
A. Reporting Entity and Its Services
This report includes all of the funds and account groups of the Village.
It also includes all activities considered to be part of (controlled by or
dependent on) the Village, as determined by the application of the criteria
set forth in "Defining the Governmental Reporting Entity - NCGA Statement
3 ". In accordance with NCGA Statements 3 and 7, for financial reporting
purposes the Village's financial statements include all funds, account
groups, departments, agencies, boards, commissions and other organizations
over which Village officials exercise oversight responsibility.
1
fl
1
1
1
1
1
L
Oversight responsibility includes such aspects as appointment of governing
body members, budget approval, approval of property tax levies, outstanding
debt secured by Village full faith and credit or revenues, responsibility
'
for funding deficits and others.
The Village considered the following entities when implementing NCGA
'
Statements 3 and 7. Although these entities are similar in nomenclature
and scope of public service, the criteria in Statement 3 did not require
the inclusion of these entities in the Village's financial statements as
component units principally because the Village does not exercise oversight
'
responsibility over such entities. Listed below are the entities that were
considered:
'
Deerfield Bannockburn Fire Protection District
Highland Park Mosquito Abatement District
North Shore Sanitary District
'
Municipal Insurance Cooperative Agency
(reported as a proprietary joint venture - Note 5)
The Village of Deerfield, Illinois was incorporated April 14, 1903. The
'
Village operates under a Board /Manager form of government and provides the
following services as authorized by its charter: public safety (police) ,
highways and streets, sanitation, health and social services, culture -
'
recreation, public improvements, planning and zoning, and general admini-
strative services.
1
1
1
1
1
1
1
I
I
i
E
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
1. Summary of Significant Accounting Policies (Cont.)
B. Basis of Presentation - Fund Accounting
The accounts of the Village are organized on the basis of funds and account
groups, each of which is considered a separate accounting entity. The
operations of each fund are accounted for with a separate set of self -
balancing accounts that comprise its assets, liabilities, fund equity,
revenues, and expenditures, or expenses, as appropriate. Government
resources are allocated to and accounted for in individual funds based upon
the purposes for which they are to be spent and the means by which spending
activities are controlled. The various funds are grouped, in the financial
statements in this report, into generic fund types and broad fund
categories as follows:
Enterprise Funds - Enterprise Funds are used to account for operations (a)
that are financed and operated in a manner similar to private business
enterprises - where the intent of the governing body is that the costs
' (expenses, including depreciation) of providing goods or services to the
1
GOVERNMENTAL FUNDS
General Fund - The General Fund is the general operating fund of the
Village. It is used to account for all financial resources except those
required to be accounted for in another fund.
Special Revenue Funds - Special Revenue Funds are used to account for the
proceeds of specific revenue sources (other than special assessments or
major capital projects) that are legally restricted to expenditures for
specified purposes.
Debt Service Fund - Debt Service Funds are used to account for the
accumulation of resources for, and the payment of, general long -term debt
principal, interest, and related costs. The Debt Service Fund has been
'
treated as a single fund and budgeted in a like manner by the Village.
Capital Projects Funds - Capital Projects Funds are used to account for
financial resources to be used for the acquisition or construction of major
capital facilities (other than those financed by Proprietary Funds, Special
Assessment Funds, and Trust Funds).
rSpecial
Assessment Funds - Special Assessment Funds are used to account for
the financing of public improvements or services deemed to benefit the
'
properties against which special assessments are levied.
PROPRIETARY FUNDS
Enterprise Funds - Enterprise Funds are used to account for operations (a)
that are financed and operated in a manner similar to private business
enterprises - where the intent of the governing body is that the costs
' (expenses, including depreciation) of providing goods or services to the
1
1.
10 1
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
Summary of Significant Accounting Policies (Cont.)
B. Basis of Presentation - Fund Accounting (Cont.)
PROPRIETARY FUNDS (CONT.)
general public on a continuing basis be financed or recovered primarily
through user charges; or (b) where the governing body has decided that
periodic determination of revenues earned, expenses incurred, and /or net
income is appropriate for capital maintenance, public policy, management
control, accountability, or other purposes.
Internal Service Funds - Internal Service Funds are used to account for the
financing of goods or services provided by one department or agency to
other departments or agencies of the Village, or to other governments, on a
cost - reimbursement basis.
FIDUCIARY FUNDS
Trust and Agency Funds - Trust and Agency Funds are used to account for
assets held by the Village in a trustee capacity or as an agent for
individuals, private organizations, other governments, and /or other funds.
These include Pension Trust, and Agency Funds. Pension Trust Funds are
accounted for in essentially the same manner as proprietary funds since
capital maintenance is critical. Agency Funds are custodial in nature
(assets equal liabilities) and do not involve measurement of results of
operations.
ACCOUNT GROUPS
General Fixed Assets Account Group - The General Fixed Assets Account Group
is* used to account for all fixed assets which are not accounted for in
Enterprise, Internal Service, or Trust Funds.
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General Long -Term Debt Account Group - The General Long -Term Debt Account
Group is used to account for all long -term debt not accounted for in
Special Assessment, Enterprise, Internal Service, or Trust Funds.
C. Basis of Accounting '
Basis of accounting refers to when revenues and expenditures or expenses
are recognized in the accounts and reported in the financial statements.
Basis of accounting relates to the timing of the measurements made,
regardless of the measurement focus applied.
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VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1986
1. Summary of Significant Accounting Policies (Cont.)
C. Basis of Accounting (Cont.)
All Governmental Funds are accounted for using the modified accrual basis
' of accounting. Their revenues are recognized when they become measurable
and available as net current assets. The Village's share of State - assessed
income taxes, gross receipts, and sales taxes are considered "measurable"
when in the hands of intermediary collecting governments and are recognized
as revenue at that time. Anticipated refunds of such taxes are recorded as
liabilities and reductions of revenue when they are measurable and their
validity seems certain. Revenues considered to be susceptible to accrual
are:
Taxes Intergovernmental Revenues
Property Motor Fuel Tax Allotments
Sales Federal Revenue Sharing Entitlements
Income
Expenditures are generally recognized under the modified accrual basis of
accounting when the related fund liability is incurred.
All Proprietary Funds and Pension Trust Funds are accounted for using the
accrual basis of accounting. Their revenues are recognized when they are
earned, and their expenses are recognized when they are incurred. Unbilled
Waterworks and Sewerage Fund utility service receivables are recorded at
` year end.
Agency Fund assets and liabilities are accounted for on the modified
accrual basis.
D. Budgets and Budgetary Accounting
The Village follows these procedures in establishing the budgetary data
reflected in the financial statements:
1. The Village Manager submits to the Board of Trustees a proposed
operating budget for the fiscal year commencing the following May 1.
The operating budget includes proposed expenditures and the means, of
financing them.
2. Budget hearings are conducted.
t3. The budget is legally enacted through passage of an ordinance.
4. The budget may be amended by the Board of Trustees.
I .
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
Summary of Significant Accounting Policies (Cont.)
D. Budgets and Budgetary Accounting (Cont.)
„ 1
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5. Budgets are adopted on a basis consistent with generally accepted
accounting principles (GAAP).
The level of control (level at which expenditures may not exceed budget)
is the Fund. Budget lapses at year end. The Village passed a Budget
Amendment during fiscal 1987 and the amended budget has been included in
the financial statements.
Encumbrance accounting, under which purchase orders, contracts, and other
commitments for the expenditure of monies are recorded in order to reserve
that portion of the applicable appropriation, is employed. Encumbrances
outstanding at year end, if any, are reported as reservations of fund
balances since they do not constitute expenditures or liabilities. There
were no material encumbrances outstanding at April 30.
The following funds adopt annual operating budgets:
Fund
General
Special Revenue
Municipal Audit
Emergency Services Disaster
Youth Bound
Library
Street and Bridge
Illinois Municipal Retirement
Public Benefit
Federal Revenue Sharing
Motor Fuel Tax
Transportation
Debt Service
Debt Service
Enterprise.
Water
Sewerage
Refuse
Commuter Parking Lot
Budgetary Basis of Accounting
Modified Accrual
Modified Accrual
Modified Accrual
Modified Accrual
Modified Accrual
Modified Accrual
Modified Accrual
Modified Accrual
Modified Accrual
Modified Accrual
Modified Accrual
Modified Accrual
Accrual
Accrual
Accrual
Accrual
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VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
1. Summary of Significant Accounting Policies (Cont.)
D. Budgets and Budgetary Accounting (Cont.)
Fund
Internal Service
Garage
Trust
Police Pension
E. Assets, Liabilities, and Fund Equity
Investments
Budgetary Basis of Accounting
Accrual
Accrual
13
Investments are stated at cost or amortized cost, which approximates
market, except for the Deferred Compensation Plan Fund investments which
are stated at market value.
Inventory
Inventory is valued at the lower of cost (first -in, first -out) or market.
Inventory is recorded on the basis of a physical count.
Fixed Assets and Long -Term Liabilities
The accounting and reporting treatment applied to the fixed assets and
long -term liabilities associated with a fund are determined by its
measurement focus. All Governmental Funds are accounted for on a spending
or "financial..flow'.' measurement focus. This means that only current assets
and current liabilities are generally included on their balance sheets.
Their reported fund-balance (net currenL assets) is considered a measure of
"available spendable resources." Governmental fund operating statements
present increases (revenues and other financing sources) and decreases
(expenditures and other financing uses) in net current assets.
Accordingly, they are said to present a summary of sources and uses of
"available spendable resources" during a period.
Fixed assets used in governmental fund type operations (general fixed
assets) are accounted for in the General Fixed Assets Account Group, rather
than in governmental funds. Public domain ( "infrastructure ") general fixed
assets consisting of certain improvements other than buildings, including
roads, bridges, curbs and gutters, streets and sidewalks, drainage systems,
and lighting systems, are not capitalized along with other general fixed
assets. No depreciation has been provided on general fixed assets.
14
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
1. Summary of Significant Accounting Policies (Cont.)
E. Assets, Liabilities, and Fund Equity (Cont.)
Fixed Assets and Long -Term Liabilities (Cont.)
All fixed assets are valued at historical cost or estimated historical cost
if actual historical cost is not available. Donated fixed assets are
valued at their estimated fair value on the date donated.
Long -term liabilities expected to be financed from governmental funds are
accounted for in the General Long -Term Debt Account Group, not in the
governmental funds. The single exception to this general rule is for
special assessment bonds, which are accounted for in Special Assessment
Funds.
The two account groups are not "funds." They are concerned only with the
measurement of financial position. They are not involved with measurement
of results of operations.
Because of their spending measurement focus, expenditure recognition for
governmental fund types is limited to exclude amounts represented by
noncurrent liabilities. Since they do not affect net current assets, such
long -term amounts are not recognized as governmental fund type expenditures
or fund liabilities. They are instead reported as liabilities in the
General Long -Term Debt Account Group.
All Proprietary Funds and Pension Trust Funds are accounted for on a cost
of services or "capital maintenance" measurement focus. This means that
all assets and all liabilities (whether current or noncurrent) associated
with their activity are included on their balance sheets. Their reported
fund equity (net total assets) is segregated into contributed capital and
retained earnings components. Propr.ietaLy fund type operating statements
present increases (revenues) and decreases (expenses) in net total assets.
Depreciation of all exhaustible fixed assets used by proprietary funds is
charged as an expense against their operations. Accumulated depreciation
is reported on proprietary fund balance sheets. Depreciation has been
provided over the estimated useful lives using the straight line method.
The estimated useful lives are as follows:
Parking Lot Improvements 20 years
Water Systems 40 years
Equipment 5 -10 years
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" VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
1 1. Summary of Significant Accounting Policies (Cont.)
F. Revenues, Expenditures, and Expenses
Property Tax Revenue Recognition
1986 property taxes attach as an enforceable lien on January 1, 1986. They
are levied in September of the subsequent fiscal year (by passage of a Tax
Levy Ordinance) . Tax bills are prepared by the County and issued on or
about April 30, 1987, and are payable in two installments, on or about June
1, 1987 and on or about September 1, 1987. The County collects such taxes
and remits them periodically.
Governmental fund property tax revenues are recognized when they become
both measurable and available, in accordance with NCGA Interpretation 3.
The 1986 tax levy has been treated as deferred revenue since it is intended
to finance the subsequent year's expenditures. Current year's operating
statements recognize 1986 tax levy revenues which finance the current
year's expenditures. Fiduciary (Pension Trust) funds recognize 1986 tax
10 levy revenues (accrual basis).
Property taxes receivable which are delinquent more than one year have been
written off; subsequent collections of such taxes are reflected as
"property taxes — prior" revenue in the period received.
Accumulated Unpaid Compensated Absences
Village employees are granted vacation pay and sick leave in varying
amounts. The Village has calculated the following amounts with respect to
accrued vacation pay and sick leave at April 30:
Fund
'
General
$246,329
Special Revenue
Street and Bridge
$ 24,592
Enterprise
Water
Sewerage
$ 12,866
36,606
$ 49,472
Internal Service
Garage
$ 8,028
Total
$328,421
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VILLAGE OF DEERFIELD, ILLINOIS I
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
Summary of Significant Accounting Policies (Cont.)
F. Revenues, Expenditures, and Expenses (Cont.)
Accumulated Unpaid Compensated Absences (Cont.)
Accumulated compensated unpaid absences are reflected in the financial
P P
statements in accordance with NCGA Statement 4 and SFAS 43 provisions.
Such amounts are accrued when incurred in proprietary funds (using the
accrual basis of accounting). Such amounts (current portion) are accrued
in governmental funds (using the modified accrual basis of accounting).
The amounts are all considered current by the Village.
G. Financial Reporting
Comparative Data
Comparative total data for the prior year have been presented in the
accompanying financial statements in order to provide an understanding of
changes in the Village's financial position and operations. Comparative
total data for the prior year have been restated as necessary in order to
provide consistency for comparison purposes. However, comparative (i.e.,
presentation of prior year totals by fund type) data have not been
presented in each of the statements since their inclusion would make the
statements unduly complex and difficult to read.
Total Columns on Combined Statements - Overview
Total columns on the Combined Statements - Overview are captioned
"Memorandum Only" to indicate that they are presented only to facilitate
financial analysis. Data in these columns do not present financial
position, results of operations, or changes in financial position in
conformity with generally accepted accounting principles. Neither is such '
data comparable to a consolidation. Interfund eliminations have not been
made in the aggregation of this data.
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VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
1. Summary of Significant Accounting Policies (Cont.)
G. Financial Reporting (Cont.)
Budgetary Data
rThe Village operates under the Budget Act.
Authoritative Sources - Financial Reporting
The financial statements are presented in accordance with generally
accepted accounting principles applicable to state and local governmental
units. These basic principles have been promulgated by the Governmental
Accounting Standards Board.
The Board has issued "GASB Codification of Governmental Accounting and
Financial Reporting Standards" which provides authoritative guidance to
state and local governmental entities, and has issued subsequent
authoritative pronouncements.
2. Stewardship, Compliance, and Accountability
A. Deficit Fund Balances /Retained Earnings of Individual Funds
The following funds had a deficit in fund balance/ retained earnings at
April 30:
Deficit
Fund Balance
Illinois Municipal Retirement $(19,609)
Special Assessments 3 -84 (92,937)
Commuter Parking Lot (17,332)
Garage (8,305)
These deficits will be eliminated with General Fund revenues.
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VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
2. Stewardship, Compliance and Accountability (Cont.)
B. Excess of Actual Expenditures /Expenses over Budget in Individual Funds
The following funds had an excess of actual expenditures/ expenses (ex-
clusive of depreciation and amortization) over budget for the year ended
April 30:
Fund Excess
Motor Fuel Tax $33,620
Commuter Parking Lot 684
Garage 4,335
3. Detail Notes on All Fund and Account Groups
A. Assets
1. Cash and Investments
The Village maintains a cash and investment pool that is available for
use by all funds, except the pension trust fund. Each fund type's
portion of this pool is displayed on the combined balance sheet as
"cash and investments ". In addition, investments are separately held
by several of the Village's funds. The deposits and investments of the
pension trust fund are held separately from those of other funds. Cash
on hand and cash at fiscal agents has been excluded from the amounts
shown below.
Permitted Deposits and Investments - Statutes authorize the Village to
make deposits /invest in obligations of the .U.S. Treasury and U.S.
Agencies, obligations of Stat.es and their political subdivisions,
savings accounts, credit union shares, repurchase agreements,
commercial paper rated within the three highest classifications by at
least two standard rating services, and the Illinois Public Treasurer's
Investment Pool. Pension funds may also invest in certain non -U.S.
obligations, mortgages, veteran's loans, and life insurance company
contracts. I
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' VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
3, Detail Notes on All Funds and Account Groups (Cont.)
A. Assets (Cont.)
1. Cash and Investments (Cont.)
Deposits
At year -end the carrying amount of the Village's deposits totaled
$13,994,618, and the bank balances totaled $14,371,326.
Bank
Balances
Category 1
Deposits covered by federal depository
insurance, or by collateral held by the
Village, or its agent, in the Village's
name. $ 1,366,031
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Category 2
Deposits covered by collateral held by
the pledging financial institution's
trust department, or by its agent, in
the Village's name.
2,000,000
Category 3
Deposits covered by collateral held by
`
the pledging financial institution, or
its trust department, or its agent but
not in the Village's name, and deposits
which are uninsured and uncollateralized.
11,005,295
Total Deposits
$14,371,326
For pension trust funds the types of deposits authorized
and the mix of
credit risk categories do not differ significantly from
the other funds
of the Village.
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VILLAGE OF DUMIE[D, ILLINOIS ,
NOTES TO THE FINANCIAL STAMENIS
APRIL 30, 1987
1
3. Detail Notes on All Funds and Account Groups (Cont.)
A. Assets (Cont.)
1. Cash and Investments (Cont.)
Investments
The Village's investments are categorized to give an indication of the level of risk
assumed by the entity at year -end. Category 1 includes investments that are insured or
registered or fior which the securities are held by the Village or its agent in the
Village's name. Category 2 includes uninsured and unregistered investments for which the
securities are held by the broker's or dealer's trust department or agent in the Village's
nane. Category 3 includes uninsured and unregistered investments for which the securities
are held by the brcker or dealer, or by its trust department or agent but not in the
Village's name and uninsured, unregistered and uncollateralized investments.
Carrying Amount
The pension trust fund owns apprcKimately 100 percent of the investments in category 1 and
22 percent of the investments in category 3.
1
Category
Market
1
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2
3
—
Total
Value
U.S. Goverment
Securities
$1,644,055
$5,680,414
$7,324,469
$8,247,684
Repurchase Agreenent
$160,000
160,000
160,000
GMA
493,438
493,438
493,437
Guaranteed
Investment Contract
250,000
250,000
250,000
$2,137,493
$5.,680,414
$410,000
$8,227,907
$9,151,121
Investment in Illinois
Public Treasurer's Investment Pool
511,324
511,324
Total Investments
$8,739,231
$9,662,445
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The pension trust fund owns apprcKimately 100 percent of the investments in category 1 and
22 percent of the investments in category 3.
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VILLAGE OF DEERFIELD, ILLINOIS
'
NOTES TO THE FINANCIAL
APRIL 30, 1987
STATEMENTS
3. Detail Notes on All Funds and Account Groups
(Cont.)
tA.
Assets (Cont.)
2. Loan Receivable
- Drainage District
'
The Village has
advanced funds to the Union Drainage District Number 1
to alleviate emergency flooding conditions. The balance
at April 30,
1987 amounted to $104,043 plus interest of $5,218. This
receivable is
'
recorded in the
Capital Projects Fund.
'
3. Fixed Assets
a. Changes in
General Fixed Assets
'
Balances
Balances
May 1
Additions Deletions
April 30
Land
$1.,915,310
$ 14,167
$1,929,477
'
Building and
Improvements
1,237,500
1,237,500
'
Vehicles
Equipment
371,100
1,022,710
97,189 $55,295
93,939 3,614
412,994
1,113,035
$4,546,620
$205,295 $58,909
$4,693,006
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b. Summary of
Proprietary Fixed Assets at April 30:
Enterprise
Commuter
'
Water
Sewerage Parking Lot
Land
$ 77,500
Systems
$ 787,751
$6,271,360
t
Equipment and Vehicles
321,368
209,759
Parking Lot
613,958
$1,109,119
$6,481,119
$691,458
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Less Accumulated
Depreciation
649,495
$1,406,320
243,402
'
$ 459,624
$5,074,799
$448,056
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VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
Detail Notes on All Funds and Account Groups (Copt.)
B. Liabilities (Cont.)
1. Retirement Fund Commitments (Cont.)
a. Illinois Municipal Retirement Fund
1) The Village is a participating member of the Illinois Municipal
Retirement Fund (IMRF) which covers all of its employees who:
a.) occupy a job normally requiring 1,000 hours or more per
year;
b.) are paid on a regular payroll from Village funds;
c.) were under age sixty when first entering employment; and
d.) are not covered by another state created retirement system
for the same service.
2) The Illinois Municipal Retirement Fund's (Chicago) actuary
estimated that as of December 31, '1986, the present value of
currently accrued retirement obligations of the Village was
$3,807,936. The Village had accumulated assets of $1,300,102
on the same date. Therefore, the balance of $2,507,834 remains
to be financed by future contributions ' payable by the
municipality on behalf of its present employees. The normal
cost portion of the Village's contribution rate is expected to
provide $459,330 of this amount and the prior service portion
of the rate is expected to provide $2,048,504. The latter
amount is considered to be unfunded at this time; it is
sometimes referred to as the "actuarial deficiency ". As
required by Section 7 -172, Chapter 108 -1/2, Illinois Revised
Statutes, contribution rates are fixed at levels, certified by
the Fund actuary, sufficient to meet the entire cost of benefit
payments ultimately to be made.
Actual contributions this year totaled $320,406. This is a
statewide plan, administered by IMRF. The Village has no
further liability to this plan.
1 23
', VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
IAPRIL 30, 1987
3. Detail Notes on All Funds and Account Groups (Cont.)
B. Liabilities (Cont.)
1. Retirement Fund Commitments (Cont.)
b. Police Pension Fund
1) Chapter 108 -1/2, Sections 3 -125 and 127 of the Illinois
Revised Statutes, provide that municipalities shall establish
and maintain a reserve to insure the payment of all
obligations. The accumulated reserve shall be equal to the
estimated total actuarial requirements of the Fund.
In municipalities having less than the actuarial requirements
of the Fund, the Board of Trustees of the Fund shall designate
the proportionate amount needed annually to insure the
accumulation of such actuarial reserve over a 40 year period
ending in 2020. The total actuarial requirements at April 30,
1986 (the date of the latest computation) amounted to
$4,399,966 as determined by the Village Actuary.
' Net present assets $3,772,537
Unfunded accrued liability 627,429
$4,399,966
Actual contributions this year totaled $180,434. This is a
single - employer plan administered by the Village.
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VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
3. Detail Notes on All Funds and Account Groups (Cont.)
B. Liabilities (Cont.)
1. Retirement Fund Commitments (Cont.)
b. Police Pension Fund (Cont.)
2) Changes in Fund Balance
24
Reserved for
Employee
Retirement
Total
Unreserved
System
Balances - May 1
$3,772,538
$(857)720)
$4,630,258
Additions
Employer Contributions (Taxes)
180,434
180,434
Employee Contributions
99,923
99,923
Interest
381,538
381,538
Gain on Sale of Investments
77,330
77,330
Transfer from General Fund
900
900
Total Balances and Additions
$4,512,663
$(857,720)
$5,370,383
Actuarial Adjustments
(Increase) Decrease in
Unfunded Accrued Liability
230,291
(230,291)
Total Revised Balances
$4,512,663
$(627,429)
$5,140,092
Deductions
Pension Payments
$ 83,885
$ 83,885
Miscellaneous
99
99
Separation Refund
17,050
17,050
Total Deductions
$ 101,034
-
$ 101,034
Balances - April 30
$4,411,629
$(627,429)
$5,039,058
25
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
3. Detail Notes on All Funds and Account Groups (Cont.)
B. Liabilities (Cont.)
1. Retirement Fund Commitments (Cont.)
b. Police Pension Fund (Cont.)
3) Municipal Contribution Requirements
Per the Village's updated actuarial report dated April 30, 1986
the Village's contributin to the Police Pension Fund should be
$108,586 for the year ending April 30, 1986. This contribution
includes the amount necessary to provide the normal cost based
on the annual payroll of active participants as of April 30,
1986 and the amount necessary to amortize the unfunded accrued
liability of $627,429.
c. Deferred Compensation Plan Fund
The Village offers its employees a deferred compensation plan
created in accordance with Internal Revenue Code Section 457. The
plan, available to certain Village employees, permits them to defer
a portion of their salary until future years. The deferred
compensation is not available to employees until termination,
retirement, death, or unforeseeable emergency.
All amounts of compensation deferred under the plan, all property
and rights purchased with those amounts, and all income attribut-
able to those amounts, property, or rights are (until paid or made
available to the employee or other beneficiary) solely the property
and rights of the Village (without being restricted to the
provisions of benefits under the plan), subject only to the claims
of the Village's general creditors. Participants' rights under the
plan are equal to those of general creditors of the Village in an
amount equal to the fair market value of the deferred account for
each participant.
It is the opinion of the Village's legal counsel that the Village
' has no liability for losses under the plan but does have the duty
of due care that would be required of an ordinary prudent investor.
The Village believes that it is unlikely that it will use the
assets to satisfy the claims of general creditors in the future.
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VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
3. Detail Notes on All Funds and Account Groups (Cont.)
B. Liabilities (Cont.)
2. Commitments
The following major contractual commitments existed at April 30:
„ 1
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f
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Expended
Required
Project
Through
Future
Description
Authorization
April 30
Committed Financing
Communication
Equipment
$ 101,927
$ 24,165
$ 77,762 -
Equipment
64,673
14,450
50,223 -
Computer
Phase 2A Sanitary
Sewers
276,000
93,088
182,912 -
Phase 2B Sanitary
Sewers
2,276,000
137,022
23138,978 -
Deerfield Road
Pumping Station
1,668,000
350,864
1,317,136 -
Wilmot Road
Pumping Station
380,000
110,827
269,173 -
Sewer Treatment
Plant Improvement
425,000
73,215
351,785 -
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VILLAGE OF DEERFIEtD, ILLINOIS
NOTES TO THE FINANCIAL STATRIMS
APRIL 30, 1987
3. Detail. Notes on All Funds and Account Groups ((unt.)
B. Liabilities (Cont.)
3. long -Tenn Debt
a. Charges in lorg Ter► Debt
Fund Debt Balances Adjustments/ Balances
Retired By May 1 Issuances Retirements April 30
General Obligation Bonds
Sewerage Improvement
Bond Series of 1973
Debt Service $
475,000
Sewer Treatwent Facility
25,000
450,000
Bond Series of 1973
Debt Service
925,000
Corporate Purpose Bond
Instal lment.Not--
Debt Service $ 155,000 -
Series of 1982
Debt Service
475,000
Corporate Purpose Bond
Series of 1982-A
Debt Service
400,000
Corporate Purpose Bond
Series of 1983
Debt Service
350,000
General Obligation Vari-
able Rate Damard Bond
Series A of 1984 Debt Service
General Obligation Vari-
able Demand Bond
Series B of 1985 Debt Service
Corporate Purpose Bond
Series of 1986 (1) Debt Service
4,100,000
$ 75,000 $
400,000
125,000
800,000
25,000
450,000
50,000
350,000
100,000
250,000
M
6,900,000 6,900,000
$11,000,000 100,000 10,900,000
$13,625,000 $11,000,000 $11,475,000 $13,150,000
Installment Contract
Police Addition
Instal lment.Not--
Debt Service $ 155,000 -
$
155,000
-
Revenue Bonds
Water Revenue
Bond Series of 1960
Water $ 30,000
$
10,000 $
20,000
Water Revenue
Bond Series of 1959
Water 105,000
35,000
70,000
$ 135,000 -
$
45,000 $
90,000
Special
Special Assessment Bonds
Assessment $ 82,863 -
$
18,276 $
64,587
(1) The Corporate Purpose Bond Series of 1986 - $11,000,000 was a variable rate
demand bond issue
and
was redeemed in full using the
proceeds of a general obligation issue.
27
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VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
3. Detail Notes on All Funds and Account Groups (Copt.)
B. Liabilities (Cont.)
3. Long -Term Debt (Cont.)
b. Debt Service Requirements to Maturity
ANNUAL PRINCIPAL AND INTEREST REQUIREMENTS
Fiscal Year
General
Special
Ending
Obligation
Installment Revenue
Assessment
April 30
Bonds
Contract Bonds
Bonds*
Totals
1988
$ 1,430,726
$ 49,782
$64,587
$ 1,545,095
1989
1,471,123
47,869
1,518,992
1990
1,430,638
45,957
1,476,595
1991
1,499,138
1,499,138
1992
1,483,988
1,483,988
1993
1,495,750
1,495,750
1994
1,267,013
1,267,013
1995
1,195,800
1,195,800
1996
13109,905
1,109,905
1997
1,112,785
1,112,785
1998
1,112,485
1,112,485
1999
1,108,925
1,108,925
2000
1,112,025
1,112,025
2001
1,111,025
1,111,025
2002
1,110,825
1,110,825
2003
1,113,113
1,113,113
2004
1,111,350
1,111,350
2005
1,115,538
1,115,538
$22,392,152
- $143,608
$64,587
$22,600,347
* These bonds are callable and have been allocated to the most current year.
I
1
1
1
1
1
[_1
1
D
1
29
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
3. Detail Notes on All Funds and Account Groups (Cont.)
B. Liabilities (Cont.)
3. Long -Term Debt (Copt.)
c. Legal Debt Margin
The Village is a home rule municipality.
Article VII, Section 6(k) of the 1970 Illinois Constitution governs
computation of the legal debt margin.
"The General Assembly may limit by law the amount and require
referendum approval of debt to be incurred by home rule
municipalities, payable from ad valorem property tax receipts,
only in excess of the following percentages of the assessed
value of its taxable property ...(2) if its population is more
than 25,000 and less than 500,000 an aggregate of one percent:
...indebtedness which is outstanding on the effective date
(July 1, 1971) of this constitution or which is thereafter
approved by referendum... shall not be included in the
foregoing percentage amounts."
To date the General Assembly has set no limits for home rule
municipalities.
d. Revenue Bond Ordinance Disclosures
1) Water Fund
a) The ordinance authorizing the issuance of the.Water Revenue
Bond Series of 1959 and the subsequent Water Revenue Bond
Issue of 1960 provided for. the creation of separate
accounts designated as "Operations and Maintenance
Account," "Principal and Interest Account," "Depreciation
Account," "Bond Reserve Account," "Surplus Account,"
"Improvement and Extension Account," and "Bond Redemption
Account" into which accounts there shall be credited as of
the first day of each month except as hereinafter provided
for the Improvement and Extension Account and the Bond
Redemption Account, all monies of the system in accordance
with the following priority.
Operation and Maintenance Account - An amount sufficient to
cover the estimated operating and maintenance expense of
the water system for the current month.
30 1
VILLAGE OF DEERFIELD, ILLINOIS I
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
1
3. Detail Notes on All Funds and Account Groups (Cont.)
B. Liabilities (Cont.) i
3. Long -Term Debt (Cont.)
d. Revenue Bond Ordinance Disclosures (Cont.)
1) Water Fund (Cont.)
a) (Cont.)
Bond Principal and Interest Account - an amount at least
equal to the sum of one -sixth of the interest becoming due
on the next interest payment date, and one - twelfth of the
aggregate yearly amount of principal due on the next
principal maturity date.
Depreciation Account - the sum of $250 each month until
such account aggregates the sum of $15,000. Funds
accumulated shall be used for replacements or unusual
repairs for which funds are not otherwise available.
Account - an amount of 950 each month until
Bond Reserve cou $
such account aggregates the sum of $52,000. Funds
accumulated shall be used for the payment of bond principal
and interest, should the amount available in the bond
principal and interest account be insufficient to meet the
payments when due.
Surplus Account - any monies remaining each month after
providing for the credits to the above listed accounts
shall be credited to the surplus account. At the end of
each fiscal year, funds in this account shall be used to
make up deficiencies in the prior accounts, 50% of the
remaining amounts be transferred to an Improvement and
Extension Account accumulated up to a maximum of $100,000,
and all money then remaining in the surplus account may be
used for the following purposes:
A. Create a Bond Redemption Account
B. Accelerate the accumulation of funds in
aforementioned accounts
C. Used for any lawful corporate purpose I
s
1 31
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
3. Detail Notes on All Funds and Account Groups (Cont.)
B. Liabilities (Cont.)
3. Long -Term Debt (Cont.)
(Cont.)_
d. Revenue Bond Ordinance Disclosures
1) Waterworks and Sewerage Fund (Cont.)
b) Supplemental information required under
bond ordinance
provisions, not subject to audit:
Metered Customers
5,539
Unmetered Customers
1
Hydrants
884
Gallons Pumped
835,000,000
Gallons Billed
741,000,000
Connecting Properties
5,498
4. Industrial Revenue Bonds
The Village entered into agreements with Chi - Chi's,
Inc., Teradyne,
Inc., and Industrialplex Limited Partnership in which
the Village has
authorized the issuance of Industrial Revenue bonds
in the following
amounts:
Chi - Chi's, Inc. $1,615,000 Trustee - The Citizens Fidelity
Bank and Trust of Kentucky
Teradyne, Inc. $1,000,000 Trustee - State Bank and Trust
1
of Boston
Industrialplex Limited
Partnership $4,500,000 Trustee - American
National Bank
and Trust
Company of
Chicago
The Village has no liability under these bond issues.
32
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
3. Detail Notes on All Funds and Account Groups (Cont.)
C. Interfund Receivables and Payables
Due
Due
From
To
General
General
Municipal Audit
$ 741
Street
$ 532
Capital Improvement
1,115
Tax Incremental
3,275
Bond Issue B
1,115
Sewer
483
Garage
29064
Deposit
2,758
1,214
Total General
$6,003
$7,294
Special Revenue
Municipal Audit
General
$ 741
Street
17
Illinois Municipal Retirement
358
Tax Incremental
$ 75
$1,116
$ 75
Emergency Services
Street
$ 10
Tax Incremental
$ 39
Police Pension
20
$ 30
$ 39
Youthbound
Garage
$1,533
Library
Street
$3,386
Illinois Municipal Retirement
115
Debt Service
1,641
Refuse
418
Police Pension
86
$5,646
Street
General
$ 532
Municipal Audit
17
Emergency Services
10
Library
3,386
Illinois Municipal Retirement
542
Debt Service
1,233
1
1
1
1
t
1
1
1
1
r
t
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
3. Detail Notes on All Funds and Account Groups (Cont.)
C. Interfund Receivables and Payables (Cont.)
Due
Due
From
To
Special Revenue (Cont.)
Street (Cont.)
Tax Incremental
$ 1,717
Refuse
735
Garage
6,174
Police Pension
309
$14,655
Illinois Municipal Retirement
Municipal Audit
$ 358
Library
115
Street
$ 542
Tax Incremental
2$40
$ 542
$ 2,813
Total Special Revenue
$ 7,334
$19,115
Debt Service
Debt Service
Library
$ 1,641
Street
$ 1,233
Capital Improvements
27,629
Tax Incremental
9,009
Bond Issue B
27,629
Total Debt Service
$56,491
$10,650
Capital Projects
Tax Incremental
General
$ 3,275
Municipal Audit
75
Emergency Services
39
Street
1,717
Illinois Municipal Retirement
2,340
Debt Service
9,009
Refuse
3,041
Police Pension
1,286
$20,782
Capital Improvements Series A
General $ 1,115
Debt Service 27,629
$28,744
33
34
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
3. Detail Notes on All Funds and Account Groups (Cont.)
C. Interfund Receivables and Payables (Cont.)
Due Due
From To
Capital Projects (Cont.)
Bond Issue B
General $ 1,115
Debt Service 27,629
$28,744
Total Capital Projects $20,782 $57,488
Enterprise
Water
Garage $ 1,867
Sewer
General
$
483
Garage
1,643
$
2,126
Refuse
Library
$
418
Street
$
735
Tax Incremental
3,041
$
735
$
3,459
Total Enterprise
$
735
$
7,452
Internal Service
Garage
General
$
2,064
Youthbound
1,533
Street
6,174
Water
1,867
Sewer
1,643
Total Internal Service
$13,281
Trust and Agency
Police Pension
Emergency Services
$
20
Library
86
Street
$
309
Tax Incremental
1,286
$
309
$
1,392
1
1
1
1
1
1
1
1
1
1
r
r
i
35
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
3. Detail Notes on All Funds and Account Groups (Cont.
C. Interfund Receivables and Payables (Cont.)
Due Due
From To
Trust and Agency (Cont.)
Deposit
General $ 1,214 $ 2,758
Total Trust and Agency $ 1,523 $ 4,150
Total All Funds $106,149 $106,149
D. Fund Equity (Cont.)
1. Reservation of Retained Earnings
Retained Earnings - Reserved - Restricted Accounts represents amounts
required to be segregated by bond ordinance provisions.
2. Reservation of Fund Balance
Reserves are used to segregate portions of fund balances which are
either legally restricted for specific purposes or not "available
spendable resources ".
3. Designation of Fund Balance
Designated Fund Balance is used to segregate portions of fund balance
intended by management for future expenditures. The Village has
designated $1,522,000 for area improvements in the General Fund.
36
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEI43`II5
APRIL 30, 1987
4. Segment Information for Certain Individual Enterprise Funds
The Village maintains 4 Enterprise Rr ds which provide water, sewerage, refuse and parking services.
Segment information for the year ended April 30 is as follows:
Commuter
Water
Sewerage
Refuse
Parking lot
Fund
Fund
Fund
Find
Totals
Operating Revenues
$1,852,870
$1,098,333
$ 444,063
$ 90,953
$3,486,219
Depreciation, Depletion, and
Amortization Expense
61,329
206,478
-
30,698
298,505
Operating Income or (Loss)
273,878
(20,196)
(419,727)
34,041
(132,00+)
Operating Transfers
Out
-
-
-
(20,000)
(20,000)
Tax Revenues
-
-
424,717
-
424,717
Net Income (Loss)
308,0+8
30,147
21,995
14,041
374,231
Plant, Property and Equipuent
Additions
34,356
319,557
-
-
353,913
Deletions
-
-
-
-
-
Total Assets
1,679,132
6,217,275
564,914
612$80
9,073,901
Net Working Capital
1,015,501
1,0+2,555
481,750
160,852
2,700,658
Eonds.and Other Long -Tenn
Liabilities
Payable from Operating
Revenues
90,000
-
-
-
90,000
Total Equity
1,473,833
6,117,354
481,750
608,908
8,681,845
37
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
5. Related Entities - Joint Ventures
A. Municipal Insurance Cooperative Agency (MICA)
1. Description of Joint Venture
The Municipal Insurance Cooperative Agency is a proprietary joint
venture whose members are Illinois municipalities. MICA manages and
funds first party property losses, third party liability claims, and
Worker's Compensation claims of its member municipalities.
Each member municipality has self - insurance retentions at various
amounts.
Management consists of a Board of Directors comprised of one
representative from each member. In addition, there are two officers,
a Risk Manager and a Treasurer.
1
lJ
The Village does not exercise any control over the activities of the
Agency beyond its representation on the Board of Directors.
2. Summary Financial Information of Joint Venture
There are no available financial statements of the Agency at April 30,
1987. Therefore, MICA has not been reflected in the financial
statements at April 30, 1987.
Initial contributions are determined in advance of each membership year
based on the individual member's eligible revenue as defined in the
bylaws of MICA and assessment factors based on past member experience
and the funding needs for the membership year. The Board-of Directors
may require that supplemental contributions be made by members to
ensure adequate funds are available to meet the obligations applicable
to the membership year. Members have a contractual obligation to fund
any deficit of MICA attributable to a membership year during which they
were a member. It is estimated that the equity on the MICA financial
statements when issued will be zero and that the Village's net
investment in MICA will also be equal to zero.
1
lJ
38
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
6. Significant Contingencies
A. Litigation
There are several pending lawsuits in which the Village is involved. The
Village Attorney estimated that the potential claims against the Village
not not covered by insurance resulting from such litigation would not
materially affect the financial statements of the Village.
B. Contingent Liabilities
The Village participates in a number of federally assisted grant programs,
principal of which is the Federal Revenue Sharing Program. These programs
are subject to program compliance audits by the grantors or their
representatives. The audits of these programs for or including the year
ended April 30, 1987 have not yet been conducted. Accordingly, the
Village's compliance with applicable grant requirements will be established
at some future date. The amount, if any, of expenditures which may be
disallowed by the granting agencies cannot be determined at this time
although the Village expects such amounts, if any, to be immaterial.
7. Insurance
A. The Village participates in the Municipal Insurance Cooperative Agency
MICA. MICA is a proprietary joint venture whose members are Illinois
municipalities. MICA manages and funds first party property lossed, third
party liability claims, Workers' Compensation claims, and Public Officials
Liability claims of its member muncipalities.
Deductibles, self- insured retentions, and excess coverages are as follows:
Excess
(Maximum Coverage
Self-
inclusive of
Insured
Deductibles
Deductibles
Retentions
and Retentions)
Property
$1,000
$ 50,000
(1)
$ 50,000 - 500,000
(2)
500,000 - 1,000,000
(3)
1,000,000 - 30,000,000
General Liability
1,000
75,000
(1)
75,000 - 250,000
(2)
250,000 - 1,000,000
Auto Liability
1,000
50,000
(1)
50,000 - 500,000
(2)
500,000 - 1,000,000
Workers' Compensation
-
150,000
(1)
150,000 - 250,000
(2)
250,000 - 30,000,000
' 39
' VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1987
7. Insurance (Cont.)
A. (Cont.)
The Village's payments to MICA are displayed on the financial statements as
expenditures /expenses in appropriate funds.
B. The Village has purchased employee benefit insurance from private insurance
companies. Premiums have been displayed as expenditures /expenses in
appropriate funds.
1
1
1
1
I�
1
1
1
1
1
1
1
1
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1
1
1
1
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1
1
GOVERNMENTAL FUND TYPES
I�]
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
I
I
1
1
1
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L
GENERAL FUND
1
1
1
1
1
!1
1
1
1
1
1
1
1
1
rl
1
L
1
1
Fund Descriptions
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.
t
1
1
1
1
n
1
1
1
1
C
1
1
11
1
1
1
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u
1
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1
1
1
1
1
1
1
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1
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1
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1
1
1
1
1
1
1
1
1
1
1
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
GENERAL FUND
BALANCE SHEET
See accompanying Notes to the Financial Statements.
40
1987
1986
ASSETS
Cash and Investments
$3,215,044
$3,147,158
Receivables
Property Taxes
285,102
387,765
Accrued Interest
67,361
59,135
Due from Other Governments
Sales Tax
133,307
115,419
State Income Tax
58,812
42,217
Court Fines
14,346
26,372
Due from Other Funds
6,003
354
Other Assets
106,776
58,282
Total Assets
$3,886,751
$3,836,702
LIABILITIES AND FUND BALANCE
Liabilities
Accounts Payable
$ 79,107
$ 143,792
Accrued Payroll
36,271
26,772
_ Compensated Absences Payable
246,329
231,513
Contracts Payable
127,986
Other Payables
15,373
5,600
Due to Other Funds
7,294
51,416
Deferred Property Taxes
320,000
420,000
Total Liabilities
$ 832,360
$ 879,093
Fund Balance
Unreserved
Designated for Capital Improvements
$1,522,000
$1,422,000
Undesignated
1,532,391
1,535,609
Total Fund Balance
$3,054,391
$2,957,609
Total Liabilities and Fund Balance
$3,886,751
$3,836,702
See accompanying Notes to the Financial Statements.
40
VILLAGE OF DEERFIELD, ILLINOIS
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1987
Revenues
Expenditures
Excess (Deficiency) of Revenues over
Expenditures before Other Financing
Sources (Uses)
Other Financial Sources (Uses)
Operating Transfers In (Out)
Youth Bound Fund
Debt Service Fund
Transportation Fund
Federal Revenue Sharing
Police Pension
Excess of Revenues and Other Sources
over Expenditures and Other Uses
Fund Balance
May 1
Residual Equity Transfer (Out)
Vehicle Replacement Fund
April 30
1987
Budget Actual
$3,348,200 $3,902,574
1986
Actual
$3,683,369
3,524,735 3,332,892 3,018,112
$ (176,535) $ 569,682 $ 665,257
$ (4,000) $ (4,000) $ (4,000)
4,000
(2)000) (2,000) (2,000)
130,000 130,000
(900)
$ 124,000 $ 127,100 $ (6,000)
$ (52,535) $ 696,782 $ 659,257
See accompanying Notes to the Financial Statements.
$2,957,609 $2,298,352
(600,000) -
$2,357,609 $2,298,352
$3,054,391 $2,957,609
41
1
1
1
1
1
1
1
i
1
1
1
1
1
1
1
1
1
1
1
42
VILLAGE OF DEERFIELD, ILLINOIS
GENERAL FUND
STATEMENT OF REVENUES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1987
$2,435,000 $2,765,809
Licenses and Permits
Beer /Liquor Licenses $ 35,000 $ 40,800
Food Licenses 3,000 4,220
Other Business Licenses 9,000 9,493
Building Permits 140,000 219,989
Animal Licenses 7,000 5,987
Non - Business Licenses and Permits 22,000 27,971
Vehicle Stickers 33,000
$ 249,000 $ 308,460
Intergovernmental
Budget
Actual
Taxes
State Grants
Property Taxes - General
$ 320,000
$ 419,694
Sales Tax
1,650,000
1,640,226
Other Sales Tax
124,805
Income Tax
390,000
451,800
Hotel Motel Tax
75,000
129,284
$2,435,000 $2,765,809
Licenses and Permits
Beer /Liquor Licenses $ 35,000 $ 40,800
Food Licenses 3,000 4,220
Other Business Licenses 9,000 9,493
Building Permits 140,000 219,989
Animal Licenses 7,000 5,987
Non - Business Licenses and Permits 22,000 27,971
Vehicle Stickers 33,000
$ 249,000 $ 308,460
Intergovernmental
State Grants
$
10,000
$
6,457
Charges for Services
Special Police Services
$
48,500
$
45,299
Transfer Charges
36,000
36,000
Engineering Charges
5,000
16,655
$
89,500
$
97,954
Fines and Forfeits
$
210,000
$
257,723
Miscellaneous
False Alarms
$
30,000
$
20,640
Sale of Materials
1,074
Rentals
35,000
39,769
Interest
180,000
259,299
Miscellaneous
14,700
48,666
Franchise Fees
95,000
96,723
$
354,700
$
466,171
Total Revenues
$3,348,200
$3,902,574
43
VILLAGE OF DEERFIELD, ILLINOIS
GENERAL FUND
STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1987
1
1
Budget
Actual
General Government
Administration Department
$ 592,500
$ 589,678
Salaries
7,400
5,651
Overtime
78,400
58,211
Part -Time
Employee Benefits
69,300
64,008
Professional Services
139,000
16,450
157,268
14,682
'
Travel, Training and Dues
15,500
,674
Printing and Advertising
21,000
155,770
'
Communications
71,300
53,862
Insurance
Contractual Services
46,000
52,673
Utility Services
2, 600
7,000
1, 030
4,126
,
Motor Vehicle Maintenance
12,000
22,344
Repairs and Maintenance
500
333
Equipment Rental
1,000
4,239
'
Rental Property Repairs
18,000
16,420
Miscellaneous
19,000
22,288
Supplies
2,000
2,296
Materials
2,500
'
Motor Vehicle Supplies
5,000
3,898
Dog Pound
Housing Assistance
10,000
10,089
'
300
191
Apparel
Small Tools and Equipment
19000
140
2,782
Equipment
4,000
2,500
2,167
,
Land Acquisition,
6,000
7,619
Advisory Boards
12,500
13,398
Motor Vehicles
$1,162,750
$1,131,837
Computer Project
Contractual Services
$ 25,000
$ 18,190
Equipment
50,000
$ 75,000
46,617
$ 64,807
,
Total General Government
$1,237,750
$1,196,644
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
GENERAL FUND
' STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED APRIL 30, 1987
1
' Budget Actual
Public Safety
Police Department
Administrative Service
Salaries $347,300 $343,973
Overtime 5,250 1,336
Part -Time 32,200 12,241
' Investigations
Salaries $108,700 $107,809
Overtime 11,600 7,205
' Employee Benefits 11,700 12,462
Travel, Training and Dues 1,400 734
Contractual Services 14,800 14,197
Motor Vehicle Maintenance 2,000 2,014
Repairs and Maintenance 750
Supplies 5,150 2,055
Motor Vehicle Supplies 1,020 682
Apparel 1,200 1,273
Equipment 1,775 776
$160,095 $149,207
Patrol
Salaries $916,700 $875,282
Overtime 57,500 36,709
Employee Benefits
36,620
31,540
Professional Services
3,000
2,867
Travel, Training and Dues
5,200
3,759
Printing and Advertising
7,300
3,317
Communications
25,000
22,749
Insurance
141,300
133,962
Contractual Services
31,650
18,612
Motor Vehicle Maintenance
1,000
1,023
'
Repairs and Maintenance
18,500
4,968
Supplies
12,200
9,608
'
Motor Vehicle Supplies
Apparel
800
3,750
634
3,275
Equipment
44,000
95,960
Motor Vehicles
8,000
7,850
'
Miscellaneous
7,000
5,059
$730,070
$702,733
' Investigations
Salaries $108,700 $107,809
Overtime 11,600 7,205
' Employee Benefits 11,700 12,462
Travel, Training and Dues 1,400 734
Contractual Services 14,800 14,197
Motor Vehicle Maintenance 2,000 2,014
Repairs and Maintenance 750
Supplies 5,150 2,055
Motor Vehicle Supplies 1,020 682
Apparel 1,200 1,273
Equipment 1,775 776
$160,095 $149,207
Patrol
Salaries $916,700 $875,282
Overtime 57,500 36,709
1
44
Part -Time
40,100
32,311
Employee Benefits
88,890
87,425
Travel, Training and Dues
19,700
12,691
Motor Vehicle Maintenance
18,080
17,757
1
44
45
VILLAGE OF DEERFIELD, ILLINOIS
GENERAL FUND
STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED APRIL 30, 1987
Youth Services
Salaries
Budget
Actual
Public Safety (Cont.)
10,250
6,219
Police Department (Cont.)
11,500
12,192
Patrol (Cont.)
2,900
442
Repairs and Maintenance
$ 2,000
$ 909
Supplies
8,200
7,293
Motor Vehicle Supplies
25,000
14,520
Apparel
12,900
11,984
Equipment
800
355
Equipment
$1,189,070
$1,097,236
Special Services
16,000
15,495
Salaries
$ 28,700
$ 18,702
Youth Services
Salaries
$ 130,500
$ 127,898
Overtime
10,250
6,219
Employee Benefits
11,500
12,192
Travel, Training and Dues
2,900
442
Motor Vehicle Maintenance
2,500
980
Repairs and Maintenance
500
Supplies
1,200
3,172
Motor Vehicle Supplies
2,000
932
Apparel
800
1,040
Equipment
900
Motor Vehicles
16,000
15,495
$ 179,050
$ 168,370
Total Public Safety
$2,286,985
$2,136,248
Total Expenditures
$3,524,735
$3,332,892
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SPECIAL REVENUE FUNDS
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Municipal Audit Fund
Fund Descriptions
Municipal Audit Fund - An independent, outside audit is conducted by a firm engaged
by the Mayor and Board of Trustees on an annual basis as required by State law.
These are earmarked funds that can only be expended for audit purposes.
Emergency Services and Disaster Fund
' Emergency Services and Disaster Fund - The Emergency Services and Disaster Agency
supersedes the Civil Defense Agency and now basically relates to natural disasters
caused by floods and tornadoes. The Agency also prepares a plan of action to be
taken if man -made disasters occur.
' Youth Bound Fund
Youth Bound Fund - Accounts for the revenues collected and the expenditures
incurred for this unique and very successful youth project of the Deerfield Police
' Department.
' Library Fund
Library Fund - To account for the resources necessary to provide the educational,
cultural and recreational activities of the Deerfield Public Library.
Public Benefit Fund - To account for the public benefit portion of local
' improvements installed under the special assessment procedure of financing is paid
from this fund.
1
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Street and Bridge Fund
'
Street and Bridge Fund - Accounts for
the revenues and
resources used in main-
taining approximately 70 miles of street
and the Railroad
Station in the Village of
'
Deerfield.
Illinois Municipal Retirement Fund
'
Illinois Municipal Retirement Fund - To,
account for the
revenues and expenditures
associated with providing disability and
pension benefits
for Deerfield employees.
The fund also provides the employer with
a portion of F.I.C.A. Contributions.
'
Public Benefit Fund
Public Benefit Fund - To account for the public benefit portion of local
' improvements installed under the special assessment procedure of financing is paid
from this fund.
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Fund Descriptions
IFederal Revenue Sharing Fund
' Federal Revenue Sharing Fund - Provides accountability for Federal Revenue Sharing
revenues received under Title I of the State and Local Fiscal Assistance Act of
1972.
Motor Fuel Tax Fund
' Motor Fuel Tax Fund - To account for the activities involved with street
maintenance and construction. Financing is provided by the Village's share of
State gasoline taxes. State law required these gasoline taxes to be used for the
following purposes: (1) Street construction or reconstruction to improve traffic
capacity; (2) Installation of traffic signs, signals, and controls; (3) Sidewalk
repair and replacement; and (4) The public benefit share of new street improvements
when certain criteria are met in connection with a special assessment project.
ITransportation Fund
Transportation Fund - To account for the Taxi Subsidy Program established for
senior citizens and the handicapped.
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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, 1987
Revenues
Taxes
Property Taxes
Interest
Total Revenues
Expenditures
General Government
Contractual
Excess (Deficiency) of Revenues
over Expenditures
Fund Balance
May I
April 30
1987 1986
Budget Actual Actual
$10,500 $10,492 $11,784
21
$10,500 $10,513 $11,784
11,000 10,140 9,875
$ (500) $ 373 $ 1,909
See accompanying Notes to the Financial Statements.
11,879 9,970
$12,252 $11,879
48
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, 1986
Revenues
Taxes
Property Taxes
Interest
Total Revenues
Expenditures
Public Safety
Travel, Training and Dues
Communications
Insurance
Contractual
Utility Services
Motor Vehicle Maintenance
Motor Vehicle Supplies
Repairs and Maintenance
Supplies
Equipment
Total Expenditures
Excess (Deficiency) of Revenues
over Expenditures
Fund Balance
May 1
April 30
1987 1986
Budget I Actual Actual
$5,000 $ 4,996 $ 5,237
11
$5,000 $ 5,007 $ 5,237
$ 600
$ 499
$ 513
19400
1,514
11240
600
409
264
300
169
183
100
100
79
800
269
277
200
37
28
500
237
500
245
275
500
450
427
$5,500
$ 3,692
$ 3,523
$ (500)
$ 1,315
$ 1,714
See accompanying Notes to the Financial Statements.
17,584 15,870
$18,899 $17,584
49
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VILLAGE OF DEERFIELD, ILLINOIS
YOUTH BOUND FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1987
Revenues
Charges for Services
Project Income
Expenditures
Culture and Recreation
Salaries
Travel, Training and Dues
Insurance
Motor Vehicle Maintenance
Motor Vehicle Supplies
Repairs and Maintenance
Supplies
Lodgings
Equipment
Communications
Contractual
Total Expenditures
Excess (Deficiency) of Revenues
over Expenditures before Other
Financing Sources
Other Financing Sources
Operating Transfers In
General Fund
Excess (Deficiency) of.Revenues and
Other Sources over Expenditures
Fund Balance
May 1
April 30
1987
Budget Actual
$11,000 $10,554
$ 750
1986
Actual
$ 8,648
350
$ 348
$ 324
200
442
291
5,500
4,382
1,932
975
676
760
200
4,500
4,735
4,518
2,548
200
57
62
1,400
1,718
1,718
2,700
2,698
183
$16,775
$15,056
$12,336
$(5,775) $(4,502)
4,000 4,000
$(1,775) $ (502)
See accompanying Notes to the Financial Statements.
7,498
$ 6,996
$(3,688)
4,000
$ 312
7,186
$ 7,498
50
VILLAGE OF DEERFIELD, ILLINOIS
LIBRARY FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1987
Revenues
Taxes
Property Taxes
Replacement Taxes
Intergovernmental
Grants
Charges for Services
Non - Resident Fees
Fees, Fines, Penalties
Reciprocal Borrowing
Xerox
Videos
Miscellaneous
Interest
Gifts
Reserve for Repairs and Replacement
Total Revenues
Expenditures
Culture and Recreation
Excess (Deficiency) of Revenues
over Expenditures
Fund Balance
May 1
April 30
1987 1986
Budget Actual Actual
$672,017 $676,091 $ 5931893
7,300
17,074
14,604
17,430
17,041
17,432
7,198
153232
7,510
37,000
23,644
45,014
3,858
3,943
20,000
18,467
19,276
17,220
10,000
303191
35,324
1,000
541
1,215
151,526
$923,471
$819,359
$ 7383211
923,471
790,816
844,890
-
$ 28,543
$(106,679)
See accompanying Notes to the Financial Statements.
279,091 385,770
$307,634 $ 279,091
51
1
1
1
1
1
1
1
1
1
I
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1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
LIBRARY FUND
STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1987
Culture and Recreation
Salaries - Professional
Salaries - Non - Professional
Salaries - Temporary
Employee Benefits
Professional Services
Education, Travel and Dues
Communication
Insurance
Contractual Services
Utilities
Repairs, Maintenance of Building and
Equipment Building Supplies
Carpet
Supplies - Library and Office
Books
Periodicals
Audio - Visual
Binding
Special Library Programs
Data Base
New Equipment
Printing
Computer Service
Cataloging Service
Miscellaneous
Automation Project
Total Expenditures
Budget Actual
$186,378
$189,681
247,837
239,509
17,056
21,042
26,500
26,518
4,000
2,781
6,000
5,735
7,500
5,565
7,000
10,496
17,000
8,848
500
580
39,000
19,314
50,000
31,201
28,000
21,042
100,000
68,924
223000
23,902
26,000
11,566
1,000
994
2,300
2,564
1,500
940
40,000
9,959
2,500
1,357
466
4,898
1,400
559
90,000 103,417
$923,471 $790:816
52
VILLAGE OF DEERFIELD, ILLINOIS
STREET AND BRIDGE FUND
STATEMENT OF REVENUES, EU DIDITURES,
AMID CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1987
Excess of Revenues over Expenditures
before Other Financing Sources (Uses)
1987
$ 63,311
1986
Other Financing Sources (Uses)
Budd
Actual
Actual
Revenues
Taxes
$(33,000)
Property Taxes
$249,000
$219,840
$231,940
Other Taxes
170,000
170,000
146,000
Licenses and Permits
Vehicle Licenses
2603000
2683280
266,624
Charges for Services
State Highway Maintenance
16,000
21,417
8,187
50/50 Sidewalk and Curb
25,000
17,858
11,057
50/50 Tree
5,000
500
Vain Station Maintenance
1,500
1,500
1,500
Miscellaneous
Interest
8,000
17,179
5,741
Other
5,000
4,607
4,299
Total Revenues
$739,500
$721,181
$675,348
Expenditures
Highways and Streets
Administration
$115,700
$116,262
$ 93,165
Cleaning
34,830
33,729
35,748
Traffic Marking
43,990
44,496
37,698
Pavenert Patching
79,600
80,875
81,199
Tarring Cracks
46,150
40,704
43,667
Drainage Structure
15,200
12,065
15,162
Street Lights and Traffic Signals
102,700
97,933
106,883
Miscellaneous Maintenance
71,310
72,356
51,823
Snow and Ice Control
1083810
72,591
113,153
Weed Control
16,600
13,968
13,592
leaf Removal
12,300
20,839
163102
Tree Removal
24,740
19,703
22,817
Tree Planting
13,650
12,362
8,446
Railroad Station Maintenance
34,560
19,987
22,984
Total Expenditures
$720,140
$657,870
$662,439
Excess of Revenues over Expenditures
before Other Financing Sources (Uses)
$ 19,360
$ 63,311
$ 12,909
Other Financing Sources (Uses)
Operating Transfers In (Out)
General Fund
$(33,000)
Caimrter Parking Lot Fund
20,000
$ 20,000
$ 20,000
13,000
$ 20,000
$ 20,000
Excess of Revenues and Other Sources
over Expenditures and Other Uses
$ 6,360
$ 83,311
$ 32,909
Furl Balance
May 1 31,139 (1,770)
April 30 $114,450 131,139
See accompanying Notes to the Financial Statements.
53
1
VILLAGE OF DEERFIELD, ILLINOIS
STREET AND BRIDGE FUND
STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1987
1
1
54
Budget
Actual
Highways and Streets
Public Works
Administration
Salaries
$
32,850
$
42,397
Overtime
3,650
835
Employee Benefits
5,000
5,720
Professional Services
2,200
160
'
Travel, Training and Dues
1,000
854
Printing and Advertising
4,400
3,569
Communications
Insurance
3,900
483600
2,716
50,374
Motor Vehicle Maintenance
2,000
2,135
Miscellaneous
2,200
2,412
Supplies
3,000
1,583
'
Motor Vehicle Supplies
1,200
818
Apparel
1,600
Repairs and Maintenance
1,500
579
Contractual
1,200
719
Equipment
1,400
1,391
$115,700
$116,262
Cleaning
Salaries
$
13,900
$
15,281
Overtime
1,050
1,252
Employee Benefits
1,380
1,899
Small Tools and Equipment
500
136
Contractual
3,700
1,567
Motor Vehicle Maintenance
4,000
1,630
Repairs and Maintenance
5,500
9,854
Equipment Rental
1,500
Motor:Vehicle Supplies
1$00
1,484
Supplies
1,800
626
$
34,830
$
33,729
rTraffic
Marking
Salaries
$
13,900
$
15,703
Overtime
Part -Time
300
2,600
272
2,587
Employee Benefits
390
1,945
Motor Vehicle Maintenance
1,000
84
Repairs and Maintenance
800
760
Motor Vehicle Supplies
500
48
1
1
54
55 1
VILLAGE OF DEERFIELD, ILLINOIS I
STREET AND BRIDGE FUND
$28,950
$31,088
STATEMENT OF EXPENDITURES - BUDGET AND
ACTUAL (CONT.)
516
FOR THE YEAR ENDED APRIL 30,
1987
4,085
r
Highways and Streets (Cont.)
Budget
Actual
Public Works (Cont.)
5,500
1,166
Traffic Marking (Cont.)
600
Materials
$ 4,000
$ 4,874
Street Signs
6,500
4,985
Contractual
14,000
13,238
$43,990
$44,496
Pavement Patching
Salaries
$28,950
$31,088
Overtime
1,250
516
Employee Benefits
3,500
4,085
Motor Vehicle Maintenance
5,000
4,115
Repairs and Maintenance
5,500
1,166
Supplies
600
Motor Vehicle Supplies
2,000
808
Aggregates
30,800
37,208
Materials
2,000
1,889
$79,600
$80,875
Tarring Cracks
Salaries
$17,700
$16,518
Overtime
550
1,155
Part -Time
2,600
2,638
Employee Benefits
1,700
2,524
Motor Vehicle Maintenance
1,400
1,183
Repairs and Maintenance
1,200
2,663
Motor Vehicle Supplies
3,000
2,317
Aggregates
500
Materials
Equipment Rental
15,000
2,500
10,452
1,254
$46,150
$40,704
Drainage Structures
Salaries
$ 5,800
$ 6,562
Overtime
850
821
Employee Benefits
950
841
Motor Vehicle Maintenance
23000
118
Repairs and Maintenance
2,300
815
Motor Vehicle Supplies
300
59
Aggregates
1,000
309
Materials
2,000
2,540
$15,200
$12,065
1
1
VILLAGE OF DEERFIELD, ILLINOIS
STREET AND BRIDGE FUND
STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL (CONT.)
FOR THE- YEAR ENDED APRIL 30, 1987
1
1
Z
Budget
Actual
Highways and Streets (Cont.)
Public Works (Cont.)
Street Lights and Traffic Signals
Salaries
$ 6,150
$ 6,783
Overtime
1,050
546
Employee Benefits
1,900
917
Contractual
31,000
16,205
Utility Services
48,000
58,104
Motor Vehicle Maintenance
1,500
2,261
Repairs and Maintenance
1,000
367
Equipment Rental
1,000
625
Motor Vehicle Supplies
800
779
Aggregates
300
225
Materials
10,000
11,121
$102,700
$97,933
Miscellaneous Maintenance
Salaries
$ 5,800
$ 7,003
Overtime
1,050
1,817
Employee Benefits
660
1,046
Contractual
53,700
54,053
Motor Vehicle Maintenance
1,000
1,143
Repairs and Maintenance
2,500
2,357
Small Tools and Equipment
300
211
Miscellaneous
500
Motor Vehicle Supplies
600
637
Aggregates
1,000
736
Materials
2,200
3,353
Equipment Rental
2,000
$ 71,310
$72,356
Snow and Ice Control
Salaries
$ 33,150
$ 9,463
Overtime
9,400
10,604
Employee Benefits
1,660
903
Communications
800
Motor Vehicle Maintenance
6,000
8,209
Repairs and Maintenance
11,000
18,444
Equipment Rental
1,000
555
Supplies
Motor Vehicle Supplies
2,500
5,300
354
1,373
Salt
32,000
16,874
1
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57 1
VILLAGE OF DEERFIELD, ILLINOIS
STREET AND BRIDGE FUND
STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED APRIL 30, 1987
Highways and Streets (Cont.)
Budget
Actual
Public Works (Cont.)
Snow and Ice Control (Cont.)
Aggregates
$
4,000
$ 4,002
Materials
2,000
1,810
$108,810
$72,591
Weed Control
'
Salaries
$
5,800
$ 743
Overtime
100
34
Part -Time
2,600
1,384
Employee Benefits
700
253
Motor Vehicle Maintenance
1,000
167
Repairs and Maintenance
2,000
3,443
Motor Vehicle Supplies
500
414
Materials
3,000
6,341
Equipment
900
1,189
$
16,600
$13,968
Leaf Removal
Salaries
$
6,150
$10,552
Overtime
1,050
2,495
Employee Benefits
1,300
1,406
Motor Vehicle Maintenance'
1,000
1,738
Repairs and Maintenance
2,500
4,309
Motor Vehicle Supplies
300
339
$
12,300
$20,839
Tree Removal.
Salaries
Overtime
$
5,800
650
$ 5,996
155
Part -Time
4;100
3,092
Employee Benefits
490
650
Contractual
9,000
7,769
Motor Vehicle Maintenance
500
384
Repairs and Maintenance
600
380
Motor Vehicle Supplies
400
24
Materials
2,200
773
Equipment
500
480
Equipment Rental
$
500
24,740
$19,703
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VILLAGE OF DEERFIELD, ILLINOIS
STREET AND BRIDGE FUND
58
STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED APRIL 30, 1987
Highways and Streets (Cont.)
Public Works (Cont.)
Tree Planting
Salaries
Overtime
Employee Benefits
Contractual
Motor Vehicle Maintenance
Repairs and Maintenance
Motor Vehicle Supplies
Materials
Railroad Station Maintenance
Salaries
Overtime
Part -Time
Employee Benefits
Contractual Services
Utility Services
Repairs and Maintenance
Supplies
Aggregates
Materials
Total Expenditures
Budget Actual
$ 5,800
$ 8,251
400
2,111
1$50
392
4,200
3,147
500
131
300
44
400
247
500
150
$ 13,650
$ 12,362
$ 6,150 $ 3,515
950
97
3,600
2,111
760
390
8,300
636
2,500
2,400
1,958
1,500
3,410
500
40
7,900
7,830
$ 34,560 $ 19,987
$720,140 $657,870
59
VILLAGE OF DEERFIELD, ILLINOIS
ILLINOIS MUNICIPAL RETIREMENT FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1987
Revenues
Taxes
Property Taxes
Replacement Taxes
Miscellaneous
Interest Earnings
Other
Total Revenues
Expenditures
Miscellaneous
Illinois Municipal Retirement
Payments - Employer
Excess (Deficiency) of Revenues over
Expenditures
1987
Budget Actual
$325,000
6,000
10,000
$341,000
$299,782
7,069
10,963
2,592
$320,406
1986
Actual
$271,808
6,047
8,815
$286,670
325,000 324,957 296,313
$ 16,000 $ (4,551) $ (9,643)
Fund Balance
May 1 (15,058) (5,415)
April 30 $(19,609) $(15,058)
See accompanying Notes to the Financial Statements.
1
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VILLAGE OF DEERFIELD, ILLINOIS
PUBLIC BENEFIT FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1987
Revenues
Miscellaneous
Interest
Other
Total Revenues
Expenditures
General Government
Contractual
Excess (Deficiency) of Revenues
over Expenditures
1987 1986
Budget Actual Actual
$ 4,000
$ 2,000
$ 4,000 $ 2,000 -
8,000 - -
$(4,000) $ 2,000 -
Fund Balance
May 1 61,273 $61,273
April 30 $63,273 $61,273
See accompanying Notes to the Financial Statements.
11
VILLAGE OF DEERFIELD, ILLINOIS
FEDERAL REVENUE SHARING FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1987
Revenues
Intergovernmental
Entitlements
Miscellaneous
Interest
Total Revenues
Expenditures
Excess of Revenues over Expenditures
before Other Financing (Uses)
Other Financing (Uses)
Operating Transfers (Out)
Debt Service Fund
General Fund
Excess (Deficiency) of Revenues over
Expenditures and Other Uses
Fund Balance
May 1
April 30
1987
Budget Actual
61
1
1
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J
1986 r
Actual
$ 57,000 $ 25,434 $ 74,176
8,000 10,433 30,636
$ 65,000 $ 35,867 $ 104,812
15,000 15,000 -
$ 50,000 $ 20,867 $ 104,812
$(165,385)
$(130,000) $(130,000)
$(130,000) $(130,000) $(165,385)
$ (80,000) $(109,133) $ (60,573)
See accompanying Notes to the Financial Statements.
111,940 172,513
$ 2,807 $ 111,940
1
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VILLAGE OF DEERFIELD, ILLINOIS
MOTOR FUEL TAX FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1987
Revenues
Intergovernmental
Allotments Earned
Miscellaneous
Interest
Other
Total Revenues
Expenditures
Highways and Streets
Street Maintenance
Street Resurfacing and
Renovation Program
Reconstruction Wilmot Road -
Lake Cook to Deerfield
Total Expenditures
Excess of Revenues
over Expenditures
Fund Balance
May 1
April 30
1987 1986
Budget Actual Actual
$300,000 $294,011 $290,914
20,000 15,364 16,418
698
$320,000 $310,073 $307,332
$170,000 $170,000 $146,001
55,000 88,620 52,394
81,532
$225,000 $258,620 $279,927
$ 95,000 $ 51,453 $ 27,405
See accompanying Notes to the Financial Statements.
256,345
$307,798
228,940
$256,345
62
VILLAGE OF DEERFIELD, ILLINOIS
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1987
Revenues
Intergovernmental
Grant
Miscellaneous
Village Contribution
Total Revenues
Expenditures
General Government
Transportation
Excess (Deficiency) of Revenues
over Expenditures before Other
Financing Sources
Other Financing Sources
Operating Transfer In
General Fund
Excess of Revenues and Other
Sources over Expenditures
Fund Balance
May 1
April 30
1987
Budget Actual
1986
Actual
$ 4,000 $ 3,477 $ 4,000
3,668
$ 4,000 $ 3,477 $ 7,668
6,000 4,636 8,892
$(2,000) $(1,159) $(1,224)
See accompanying Notes to the Financial Statements.
2,000 2,000 2,000
$ 841 $ 776
4,254 3,478
$ 5,095 $ 4,254
63
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DEBT SERVICE FUND
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Debt Service Fund
Fund Description
Debt Service Fund - To account for the accumulation of resources for the payment of
I General Long -Term Debt.
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VILLAGE OF DEERFIELD, ILLINOIS
DEBT SERVICE FUND
BALANCE SHEET
APRIL 30, 1987
ASSETS
Cash and Investments
Receivables
Property Taxes
Accrued Interest
Due from Other Funds
Total Assets
LIABILITIES AND FUND BALANCE
Liabilities
Cash Overdrafts
Interest Payable
Due to Other Funds
Deferred Property Taxes
Total Liabilities
Fund Balance
Reserved for Debt Service
Total Liabilities and Fund Balance
See accompanying Notes to the Financial Statements.
1987
$1, 151, 764
975,878
35,125
56,490
Cq 110 IS7
$ 29,701
10,650
1,097,942
$1,138,293
1,080,964
$2,219,257
1986
$1,510,405
1,049,386
31,160
34,845
C7 C,7S 70A
$ 31,437
34,400
1,136,622
$1,202,459
1,423,337
$2,625,796
64
VILLAGE OF DEERFIELD, ILLINOIS
DEBT SERVICE FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1987
Revenues
Taxes
Property Taxes
Replacement Taxes
Miscellaneous
Interest
Total Revenues
Expenditures
Debt Service
Principal Retirement
Interest
Fiscal Charges
Other
Total Expenditures
1987
Budget
Actual
1986
Actual
$ 1,137,925 $ 1,153,191 $ 556,185
29,000 49,201 42,085
75,000 135,183 110,686
$ 1,241,925 $ 1,337,575 $ 708,956
$ 11,630,000 $ 520,000
750,006 530,250
835
8,714
$ 12,443,637 $ 12,389,555 $1,050,250
65
Excess (Deficiency) of Revenues
over Expenditures before
Other Financing Sources $(11,201,712) $(11,051,980) $ (341,294)
Other Financing Sources (Uses)
Operating Transfers In (Out)
Capital Improvements Fund - Series A
Federal Revenue Sharing Fund
$ (292,444) $ 276,750
165,385
Tax Incremental Finance District Fund $ 208,712 208,712 192,775
Capital Improvements Fund - Series B (202,661)
Computer Fund (4,000)
Bond Proceeds 11,000,000 11,000,000
$ 11,208;712 $ 10,709,607 $ 634,910
Excess (Deficiency) of Revenues and
Other Sources over Expenditures
and Other Uses
Fund Balance
May 1
April 30
i
i
$ 7,000 $ (342,373) $ 293,616 1
See accompanying Notes to the Financial Statements.
1,423,337 1,129,721
$ 1,080,964 $1,423,337
1
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VILLAGE OF DEERFIELD, ILLINOIS
DEBT SERVICE FUND
STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1987
Debt Service
Sewerage Improvement Bond Series of 1973
Principal
Interest
Sewerage Treatment Facility Bond Series of 1973
Principal
Interest
Corporate Purpose Bond Series of 1983
Principal
Interest
Corporate Purpose Bond Series 1982
Principal
Interest
Corporate Purpose Bond Series 1982 -A
Principal
Interest
General Obligation Variable Rate Demand
Bond Series of 1984
Principal
Interest
General Obligation Variable Rate Demand
Bond Series of 1985
Principal
Interest
Corporate Purpose Bond Series of 1986
Principal
Interest
Police Addition Installment Contract of 1979
Principal
Interest
Fiscal Charges
Other
Total Expenditures
See accompanying Notes to the Financial Statements.
Budget
k
66
Actual
$ 75,000
21,538
125,000
42,563
100,000
24,250
25,000
43,525
50,000
32,250
4,100,000
24,287
6,900,000
40,874
100,000
510,444
155,000
10,275
835
8,714
S11 IAQ SSS
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Fund Descriptions
J
Capital Projects Funds
P
Land Acquisition Fund - Established in 1974 to acquire land in the area now known
as The Brickyards. The funds remaining are held against the potential need of
reimbursing the Illinois Department of Transportation in the event a retention pond
M is not constructed.
Capital Projects Fund - Established in 1983 to provide funds for the study and
Capital Improvements Series B Fund - Established in December, 1985, to provide
funds for major renovation to the Storm and Sanitary Sewers and a Street
Rehabilitation Program.
review of the Village
of Deerfield Storm and Sanitary Sewer System.
purpose of providing improvements
to the area known as The
Brickyards property.
This includes construction of
Tax Incremental Finance District Fund - Established in 1982 to provide
funds for
Pfingsten Road, which includes a
land acquisition and
improvements to the Village of Deerfield Tax
Increment
Financing District.
to account
for the funds annually set aside
Capital Improvements
Series A Fund - Established in December, 1984,
to provide
funds for Storm Sewer
tation Program.
Improvements, Sanitary Improvements and a Street
Rehabili-
Capital Improvements Series B Fund - Established in December, 1985, to provide
funds for major renovation to the Storm and Sanitary Sewers and a Street
Rehabilitation Program.
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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
1
bridge at Lake -Cook and an overpass at Kates Road.
Vehicle Replacement Fund - Established
to account
for the funds annually set aside
for the eventual replacement
of certain vehicles.
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SPECIAL ASSESSMENT FUNDS
1
Fund Descriptions
ISpecial Assessment Funds
Special Assessments 3 -84 Fund - This group of special assessments was issued prior
to 1930 for various municipal projects.
Special Assessment 111 Fund - This fund set up in 1974 to account for the collec-
tion and disbursement of funds for the improvement of portions of Wilmot Road and
Berkeley Court by construction of concrete curb and gutter, sidewalks and a
bituminous transition pavement and including a storm drainage system where
necessary.
Special Assessment 112 Fund - This fund set up in 1975 to account for the collec-
tion and disbursement of funds for the construction of concrete pavement, curb and
gutter, sidewalks and a drainage system where necessary along portions of Gordon
Terrace and Kenmore.
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Special Assessment 113 Fund -
This fund set up in 1978
to account
for the collec-
tion and disbursement of funds for the improvement of
portions of Waukegan and
Northwoods Roads by construction of a Sanitary Sewer.
Special Assessment 114 Fund -
This fund set up in 1978
to account
for the collec-
tion and disbursement of funds
for the improvement of Kates
Road by
construction of
concrete pavement, curb and
gutter, storm sewer and
other work
necessary and
incidental to the improvement.
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ENTERPRISE FUNDS
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IWater Fund
Fund Descriptions
Water Fund - To account for all activity necessary to provide water to the
residents of the Village of Deerfield including administration, operation,
maintenance, financing and related Debt Service.
ISewerage Fund
' Sewerage Fund - To account for the provision of sewer service to the residents of
the Village of Deerfield. All activity necessary to provide such services is
accounted for in this fund including, but not limited to, administration,
construction, maintenance, and operations of the Sewerage Treatment Plant.
D-4:-- L'.....7
' Refuse Fund - To account for all revenues and expenses necessary to provide the
residents of the Village of Deerfield with refuse service.
ICommuter Parking Lot Fund
Commuter Parking Lot Fund - To account for all activity necessary to construct,
operate, and maintain the commuter parking facilities within the Village.
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IASSETS
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LIABILITIES AND FUND EQUITY
Current Liabilities
Accounts Payable
Compensated Absences Payable
Other Payables
Due to Other Funds
Long -Term Liabilities
Revenue Bonds Payable
Total Liabilities
Fund Equity
Contributed Capital
Retained Earnings
Reserved - Restricted Accounts
Unreserved
Total Retained Earnings
Total Fund Equity
Total Liabilities and
Fund Equity
71
VILLAGE OF DEERFIELD, ILLINOIS
COMBINING BALANCE SHEET
APRIL 30, 1987
Commuter
Parking Totals
Water Sewerage Refuse Lot 1987 1986
$ 718,217 $ 922,429 $ 92,341 $164,524 $1,897,511 $1,492,632
Current Assets
'
Cash and Investments
Receivables
360,067
Property Taxes
5,265
Accrued Interest
10,581
Accounts
347,510
Other
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Due from Other Funds
478,877
Inventory
13,723
Restricted Assets
34,340
Cash and Investments
3,459
Fixed Assets (Net of
735
Accumulated Depreciation)
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Total Assets
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LIABILITIES AND FUND EQUITY
Current Liabilities
Accounts Payable
Compensated Absences Payable
Other Payables
Due to Other Funds
Long -Term Liabilities
Revenue Bonds Payable
Total Liabilities
Fund Equity
Contributed Capital
Retained Earnings
Reserved - Restricted Accounts
Unreserved
Total Retained Earnings
Total Fund Equity
Total Liabilities and
Fund Equity
71
VILLAGE OF DEERFIELD, ILLINOIS
COMBINING BALANCE SHEET
APRIL 30, 1987
Commuter
Parking Totals
Water Sewerage Refuse Lot 1987 1986
$ 718,217 $ 922,429 $ 92,341 $164,524 $1,897,511 $1,492,632
$ 88,708 $ 88,708 $ 88,708
$ 459,624 $5,074,799 $448,056 $5,982,479 $5,927,072
$1,679,132 $6,217,275 $564,914 $612,580 $9,073,901 $8,427,565
$ 97,020
$ 52,002
378,651
378,651
360,067
3,566
5,265
1,750
10,581
5,460
347,510
192,756
91,437
631,703
478,877
20,617
13,723
39,426
34,340
33,536
3,459
735
735
$ 115,299
40,890
8,303
$ 3,672
49,193
41,213
$1,130,800
$1,142,476
$564,914
$164,524 $3,002,714
$2,411,785
$ 88,708 $ 88,708 $ 88,708
$ 459,624 $5,074,799 $448,056 $5,982,479 $5,927,072
$1,679,132 $6,217,275 $564,914 $612,580 $9,073,901 $8,427,565
$ 97,020
$ 52,002
$ 79,705
$ 3,280
$ 232,007
$ 180,129
12,866
36,606
49,472
59,026
3,546
9,187
392
13,125
39,426
1,867
2,126
3,459
7,452
5,977
$ 115,299
$ 99,921
$ 83,164
$ 3,672
$ 302,056
$ 284,558
90,000
90,000
135,000
$ 205,299
$ 99,921
$ 83,164
$ 3,672
$ 392,056
$ 419,558
$5,916,368 $626,240 $6,542,608 $6,243,001
$ 88,708 $ 88,708 $ 88,708
1,385,125 $ 200,986 $481,750 $(17,332) 2,050,529 1,676,298
$1,473,833 $ 200,986 $481,750 $(179332) $2,139,237 $1,765,006
$1,473,833 $6,117,354 $481,750 $608,908 $8,681,845 $8,008,007
$1,679,132 $6,217,275 $564,914 $612,580 $9,073,901 $8,427,565
See accompanying Notes to the Financial Statements.
72
VILLAGE OF DEERFIELD, ILLINOIS
ENTERPRISE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN RETAINED EARNINGS - UNRESERVED
FOR THE YEAR ENDED APRIL 30, 1987
Nonoperating Revenues (Expenses)
Interest Income
$
39,908
$
Commuter
$
17,005
$
107,256
$
95,084
Parking
Totals
Water
Sewerage
Refuse
Lot
1987
424,717
1986
Operating Revenues
Interest Expense
(5,738)
Charges for Services
(5,738)
(79438)
$
34,170
Water Sales
$1,795,892
$
441,722
-
$1,795,892
$1,360,193
$
Sewer Charges
Net Income before Operating Transfers
$ 948,122
308,048
$
948,122
$
880,600
Refuse Billings
$
394,231
$ 444,063
274,675
444,063
439,028
Parking Lot Fees
$ 90,953
90,953
(20,000)
90,731
Surcharges
Net Income
94,056
308,048
$
94,056
$
78,491
Miscellaneous
56,978
56,155
$
254,675
113,133
115,515
Total Operating Revenues
$1,852;870
$1,098,333
$ 444,063
$ 90,953
$3,486,219
$2,964,558
Operating Expenses Excluding
May 1
1,077,077
170,839
459,755
Depreciation
1,676,298
1,421,623
April 30
$1,385,125
.Administration
$ 119,044
$ 171,484
$ 21,661
$(17,332)
$ 312,189
$
251,314
Operations
1,398,619
740,567
842,129
$ 26,214
3,007,529
2,642,577
Total Operating Expenses
$1,517,663
$ 912,051
$ 863,790
$ 26,214
$3,319,718
$2,893,891
Operating Income (Loss)
before Depreciation
$ 335,207
$ 186,282
$(419,727)
$ 64,739
$ 166,501
$
70,667
Depreciation
61,329
206,478
30,698
298,505
282,857
Operating Income (Loss)
$ 273,878
$ (20,196)
$(419,727)
$ 34,041
$ (132,004)
$
(212,190)
Nonoperating Revenues (Expenses)
Interest Income
$
39,908
$
50,343
$
17,005
$
107,256
$
95,084
Property Taxes
424,717.
424,717
399,219
Interest Expense
(5,738)
(5,738)
(79438)
$
34,170
$
50,343
$
441,722
-
$
526,235
$
486,865
Net Income before Operating Transfers
$
308,048
$
30,147
$
21,995
$ 34,041
$
394,231
$
274,675
Operating Transfers (Out)
(20,000)
(20,000)
(20,000)
Net Income
$
308,048
$
30,147
$
21,995
$ 14,041
$
374,231
$
254,675
Retained Earnings - Unreserved
May 1
1,077,077
170,839
459,755
(31,373)
1,676,298
1,421,623
April 30
$1,385,125
$
200,986
$
481,750
$(17,332)
$2,050,529
$1,676,298
See accompanying Notes to the Financial Statements.
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VILLAGE OF DEERFIELD, ILLINOIS
WATER FUND
BALANCE SHEET
APRIL 30, 1987
1987 1986
ASSETS
Current Assets
Cash and Investments
$ 718,217
$ 521,276
Receivables
Accrued Interest
3,566
Accounts - Billed
85,914
75,209
- Unbilled
261,596
173,695
Other
20,617
33,536
Inventory
40,890
41,213
$1,130,800
$ 844,929
Restricted Assets
Cash and Investments
$ 88,708
$ 88,708
Fixed Assets
$ 205,299
_
$ 254,449
Cost
$1,109,119
$1,074,763
Accumulated Depreciation
649,495
588,166
$ 459,_624 $ 486,597
Total Assets
$1,679,132
$1,420,234
LIABILITIES AND FUND EQUITY
Current Liabilities
Accounts Pale
$ 97,020
$ 71,238
Compensated Absences Payable
12,866
15,881
Other Payables
3,546
31,413
Due to Other Funds
1,867
917
$ 115,299
$ 119,449
Long -Term Liabilities
Revenue Bonds Payable
90,000
135,000_
Total Liabilities
$ 205,299
_
$ 254,449
Fund Equity
Retained Earnings
Reserved - Restricted Accounts
$ 88,708
$ 88,708
Unreserved
1,385,125
1,077,077
Total Retained Earnings
$1,473,833
$1,165,785
Total Liabilities and Fund Equity
$1,679,132
$1,420,234
See accompanying Notes to the Financial Statements.
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VILLAGE OF DEERFIELD, ILLINOIS
STATEMENT OF CHANGES IN RETAINED EARNINGS - RESERVED - RESTRICTED ACCOUNTS
FOR THE YEAR ENDED APRIL 30, 1987
Principal
See accompanying Notes to the Financial Statements.
and
Bo nd
Interest
Depreciation
Reserve Totals
Increases
-
-
- -
Decreases
-
-
- -
Net Increase (Decrease)
-
-
- -
Account Balances
May 1
$21,708
$15,000
$52,000 $88,708
April 30
$21,708
$15,000
$52,000 $88,708
See accompanying Notes to the Financial Statements.
76 '
VILLAGE OF DEERFIELD, ILLINOIS '
WATER FUND
STATEMENT OF REVENUES, EXPENSES, '
AND CHANGES IN RETAINED EARNINGS - UNRESERVED - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1987
Operating Revenues
Charges for Services
Water Sales
Miscellaneous
Permits and Fees
Penalties
Other
Total Operating Revenues
Operating Expenses Excluding Depreciation
Administration
Operations
Distribution
Maintenance - Mains and Fire Hydrants
Maintenance - Meters
Total Operating Expenses
Operating Income
before Depreciation
Depreciation
Operating Income
Nonoperating Revenues (Expenses)
Interest Income
Interest Expense - Revenue Bonds
Net Income
Retained Earnings - Unreserved
May 1
April 30
1987
Budget
Actual
1986
Actual
$1,670,000 $1,795,892 $1,360,193
25,000 35,222 36,868
16,000 20,880 18,005
500 876 5,514
$1,711,500 $1,852,870 $1,420,580
$ 123,700 $ 119,044 $ 103,619
1,278,800
1,249,222
958,026
133,200
112,261
99,138
57,170
37,136
42,717
$1,592,870
$1,517,663
$1,203,500
$ 118,630 $ 335,207 $ 217,080
61,329 49,931
$ 118,630 $ 273,878 $ 167,149
$ 35,000 $ 39,908 $ 32,634
(6,800) (5,738) (7,438)
$ 28,200 $ 34,170 $ 25,196
$ 146,830 $ 308,048 $ 192,345
See accompanying Notes to the Financial Statements.
1,077,077 884,732
$1,385,125 $1,077,077
' 77
VILLAGE OF DEERFIELD, ILLINOIS
WATER FUND
STATEMENT OF OPERATING EXPENSES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1987
Operations
.Distribution
Salaries $ 27,800 $ 31,025
Overtime 5,900 1,931
Part -Time
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Employee Benefits
2,600
Administration
Budget
1,500
Actual
Salaries
$
49,500
$
56,883
5,800
Employee Benefits
6,600
84,900
6,885
Professional Services
1,200
3,700
Repairs and Maintenance
3,000
Travel, Training and Dues
'
300
1,300
654
Printing and Advertising
1,140,000
700
'
1,281
500
Communications
8,000
8,669
Contractual Services
1,000
593
Insurance
36,900
26,365
Motor Vehicle Maintenance
1,200
2,201
Miscellaneous
300
1,132
Supplies
500
1,001
Equipment
1,400
11282
Motor.Vehicle Supplies
700
547
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Occupancy
12,000
12,000
Apparel
1,500
833
Bond Principal
Repairs and Maintenance
40,000
800
45,000
Total
$
165,100
$
165,326
Less Nonoperating Items
Bond Principal
$
40,000
$
45,000
Fixed Assets Capitalized
1,400
1,282
$
41,400
$
46,282
Total.Administration
$
123,700-
$
119,044
Operations
.Distribution
Salaries $ 27,800 $ 31,025
Overtime 5,900 1,931
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Part -Time
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Employee Benefits
2,600
3,872
Professional Services
1,500
1,495
Printing and Advertising
1,100
Contractual'Services
5,800
8,137
Utility Services
84,900
68,982
Motor Vehicle Maintenance
1,200
3,117
Repairs and Maintenance
3,000
2,543
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Miscellaneous
1,300
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Purchase of Water
1,140,000
1,123,705
'
Supplies
500
1,027
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VILLAGE OF DEERFIELD, ILLINOIS
WATER FUND
STATEMENT OF OPERATING EXPENSES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED APRIL 30, 1987
Budget Actual
Operations (Cont.)
Distribution (Cont.)
Motor Vehicle Supplies $ 1,000 $ 186
Chlorine 1,000
Materials 1,200 3,119
Equipment 2,700 2,350
Total $1,281,500 $1,251,572
Less Nonoperating Items
Fixed Assets Capitalized 2,700 2,350
Total Distribution $1,278,800 $1,249,222
Maintenance - Main and Fire Hydrants
Salaries
$ 36,100 $
30,527
Overtime
11,500
7,973
Part -Time
18,400
15,536
Employee Benefits
2,700
4,331
Contractual Services
20,900
14,320
'Motor Vehicle Maintenance
3,000
5,755
Repairs and Maintenance
10$00
3,828
Equipment Rental
1,000
Miscellaneous
400
227
Motor Vehicle Supplies
1,900
1,363
Small Tools and Equipment
300
163
Aggregates
6,000
6,723
Materials
20,500
21,515
Equipment
3;100
4,025
Improvements - Not Buildings
10,000
10,486
Total $ 146,300 $ 126,772
Less Nonoperating Items
Fixed Assets Capitalized 13,100 14,511
Total Maintenance - Main and Fire Hydrants $ 133,200 $ 112,261
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VILLAGE OF DEERFIELD, ILLINOIS
STATEMENT OF OPERATING EXPENSES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED APRIL 30, 1987
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Budget
Actual
Operations (Cont.)
Maintenance - Meters
Salaries
$ 35,300
$ 27,631
Overtime
800
761
Part -Time
900
815
Employee Benefits
5,370
3,610
Professional Services
3,000
Travel, Training and Dues
300
Printing and Advertising
1,000
41
Contractual Services
2,200
Motor Vehicle Maintenance
2,000
1,854
Repairs and Maintenance
1,400
Miscellaneous
300
278
Supplies
300
126
Motor Vehicle Supplies
1,000
676
Materials
3,000
1,262
Small Tools and Equipment
300
82
Equipment
17,500
24,164
Total
$ 74,670
$ 61,300
Less Nonoperating Items
Fixed Assets Capitalized
17,500
24,164
Total Maintenance - Meters
$ 57,170
$ 37,136
Total Expenses
$1,592,870
$1,517,663
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VILLAGE OF DEERFIELD, ILLINOIS
STATEMENT OF FIXED ASSETS AND DEPRECIATION
FOR THE YEAR ENDED APRIL 30, 1987
Balances
May 1
Water System $ 785,215
Equipment and Automotive 289,548
$1,074,763
Assets
Balances
Additions Deletions April 30
$ 2,536 $ 787,751
31,820 321,368
$34,356 - $1,109,119
Accumulated Depreciation
Balances
Balances
May 1
Provisions Deletions
April 30
Water System
$ 464,918
$19,630
$ 484,548
,.—Equipment and Automotive
123,248
41,699
164,947
$ 588,166
$61,329 -
$ 649,495
Net Asset Value
$ 459,624
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VILLAGE OF DEERFIELD, ILLINOIS
SEWERAGE FUND
BALANCE SHEET
$1,142,476 $ 917,761
Fixed Assets
Cost
1987
1986
ASSETS
1,406,320
1,199,841
Current Assets
$5,074,799
$4,961,721
Cash and Investments
$ 922,429
$ 773,284
Receivables
Accrued Interest
5,265
4,747
Accounts - Billed
33,784
24,569
- Unbilled
158,972
115,161
Other
13,723
7,513
Inventory
8,303
1,501
$1,142,476 $ 917,761
Fixed Assets
Cost
$6,481,119
$6,161,562
Accumulated Depreciation
1,406,320
1,199,841
$5,074,799
$4,961,721
Total Assets
$6,217,275
$5,879,482
LIABILITIES AND FUND EQUITY
Current Liabilities
Accounts Payable
$ 52,002
$ 40,690
Compensated Absences Payable
36,606
42,178
Other Payables
9,187
7,513
Due to Other Funds
2,126
1,501
Total Liabilities
$ 99,921
$ 91,882
Fund Equity
Contributed Capital
$5,916,368
$5,616,761
Retained Earnings
Unreserved
$ 200,986
$ 170,839
Total Fund Equity
$6,117,354
$5,787,600
Total Liabilities and Fund Equity
$6,217,275
$5,879,482.
See accompanying Notes to the Financial Statements.
81
STATIIMENr OF REVENUES, EXPENSES,
AMID CHARS IN FE AINED EARNINGS - UNRESERVED - BUDW AND ACIUAL
FOR THE YEAR ENDED APRIL 30, 1987
Operating Revenues
Charges for Services
Sewer Charges
Surcharges - Construction
Surcharges - Sara Lee
Miscellaneous
Permits and Fees
Penalties
Other
Total Operating Revenues
Operating Expenses Excluding Depreciation
Administration
Operations
Treatment Plant
Cleaning and Maintenance
Construction
Total Operating Expenses
Operating Income (Loss) before Depreciation
Depreciation
Operating Income (Loss)
Nonoperating Revenues
Interest Income
Net Income
Other Changes in Retained Earnings - Unreserved
.Intrafund Transfers In
Retained Earnings - Reserved -
Restricted Accounts
Net Increase in Retained Earnings - Unreserved
Retained Earnings - Unreserved.
May 1
April 30
See accompanying Notes to the Financial Statements.
1987
1986
Budget
Actual
Actual
$920,000
$
948,122
$
880,600
44,262
43,424
25,000
49,794
35,067
25,000
41,230
40,670
11,000
11,485
10,673
2,000
3,440
3,785
$983,000
$1,098,333
$1,014,219
$170,700
$
171,484
$
134,594
515,750
556,766
490,298
115,770
93,028
106,053
128,520
90,773
123,772
$930,740
$
912,051
$
854,717
$ 52,260
$
186,282
$
159,502
68,500
206,478
202,228
$(16,240)
$
(20,196)
$
(42,726)
50,000
50,343
50,933
$ 33,760
$
30,147
$
8,207
170,000 - -
$203,760 $ 30,147 $ 8,207
170,839 162,632
$ 200,986 $ 170,839
82
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VILLAGE OF DEERFIELD, ILLINOIS
SEWERAGE FUND
STATEMENT OF OPERATING EXPENSES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1987
83
Budget
Actual
Administration
Salaries
$ 49,500
$ 58,162
Overtime
500
162
Employee Benefits
6,800
7,256
Professional Services
2,200
Travel, Training and Dues
200
205
Printing and Advertising
100
17
Communications
2,200
2,345
Insurance
90,300
86,898
Motor Vehicle Maintenance
900
512
Repairs and Maintenance
1$00
Miscellaneous
700
514
Supplies
600
1,013
Motor Vehicle Supplies
700
705
Occupancy
12,000
12,000
Apparel
1,500
820
Contractual Services
1,200
875
Total Administration
$170,700
$171,484
Operations
Treatment Plant
Salaries
$201,400
$193,119
Overtime
6,300
9,263
Part -Time
4,100
3,775
Employee Benefits
20,750
24,540
Professional Services
5,000
Travel., Training and Dues
900
1,044
Printing and Advertising
1,000
15
-Commun:ications
3,400
4,230
Contractual Services
34,500
41,870
Utility Services
172,900
192,392
Motor Vehicle Maintenance
3,000
2,620
Repairs and Maintenance
28,000
54,841
Equipment Rental
1,000
555
Supplies
8,500
8,264
Motor Vehicle Supplies
6,000
5,216
Chlorine
7,000
1,228
Aggregates
2,500
3,012
Materials
4,000
6,727
Street Signs
300
83
84
VILLAGE OF DEERFIELD, ILLINOIS
SEWERAGE FUND
STATEMENT OF OPERATING EXPENSES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1987
Cleaning and Maintenance
Salaries
Budget
Actual
Operations (Cont.)
4,400
2,789
Treatment Plant (Cont.)
2,400
1,863
Small Tools and Equipment
$ 500
$ 891
Apparel
1,700
790
Miscellaneous
3,000
2,374
Equipment
21,400
18,256
Improvements - Not Buildings
170,000
Total
$707,150
$575,022
Less Nonoperating Items
20,100
11,662
Fixed Assets Capitalized
191,400
18,256
Total Treatment Plant
$515,750
$556,766
Cleaning and Maintenance
Salaries
$ 47,700
$ 53,908
Overtime
4,400
2,789
Part -Time
2,400
1,863
Employee Benefits
7,370
5,886
Contractual Services
10,000
4,345
Motor Vehicle Maintenance
4,000
2,792
Repairs and Maintenance
5,000
3,117
Equipment Rental
3,000
Miscellaneous
2,000
Supplies
20,100
11,662
Motor Vehicle Supplies
1,500
795
Aggregates
1,000
763
Materials
7,000
4,999
Equipment
3,400
1,694
Small Tools and Equipment
300
i09
Total
$119,170
$ 94,722
Less Nonoperating Items
Fixed Assets Capitalized
3,400
1,694
Total Cleaning and Maintenance
$115,770
$ 93,028
1
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VILLAGE OF DEERFIELD, ILLINOIS
SEWERAGE FUND
STATEMENT OF OPERATING EXPENSES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED APRIL 30, 1987
85
Budget
Actual
Operations (Cont.)
Construction
Salaries
$ 74,100
$ 633686
Overtime
2,100
94
Part -Time
1,200
1,257
Employee Benefits
8,920
9,476
Contractual Services
5,000
3,622
Motor Vehicle Maintenance
5,500
22459
Repairs and Maintenance
7,500
2,052
Equipment Rental
1,000
Supplies
2,000
1,961
Motor Vehicle Supplies
2,000
2,156
Aggregates
5,000
665
Materials
14,000
3,345
Small Tools and Equipment
200
Total Construction
$128,520
$ 90,773
Total Expenses
$930,740
$912,051
85
M.
VILLAGE OF DEERFIELD, ILLINOIS
SEWERAGE FUND
STATEMENT OF FIXED ASSETS AND DEPRECIATION
FOR THE YEAR ENDED APRIL 30, 1987
Balances
May 1
Sewer System and Plant $5,953,497
Equipment and Automotive 208,065
$6,161,562
Assets
Balances
Additions Deletions April 30
$317,863 $6,271,360
1,694 209,759
$319,557 - $6,481,119
Accumulated Depreciation
Balances Balances
May 1 Provisions Deletions April 30
Sewer System and Plant $1,102,679 $173,890 $1,276,569
Equipment and Automotive 97,162 32,589 129,751
$1,199,841 $206,479 - $1,406,320
Net Asset Value $5,074,799
1
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VILLAGE OF DEERFIELD, ILLINOIS
REFUSE FUND
BALANCE SHEET
APRIL 30, 1987
ASSETS
Current Assets
1987 1986
Cash and Investments $ 92,341 $ 79,869
Receivables
Property Taxes 378,651 360,067
Accrued Interest 1,750 713
Accounts - Billed 19,121 19,445
- Unbilled 72,316 70,798
Due from Other Funds 735
Total Assets $564,914 $530,892
LIABILITIES AND FUND EQUITY
Current Liabilities
Account Payable $ 79,705 $ 67,578
Due to Other Funds 3,459 3,559
Total Liabilities $ 83,164 $ 71,137
Fund Equity
Retained Earnings
Unreserved 481,750 459,755
Total Liabilities and Fund Equity $564,914 $530,892
See accompanying Notes to the Financial Statements.
87
VILLAGE OF DEERFIELD, ILLINOIS
STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN RETAINED EARNINGS - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1987
Operating Revenues
Charges for Services
Refuse Billing
Operating Expenses
Administration
Operations
Contractual Services
Total Operating Expenses
Operating Income (Loss)
Nonoperating Revenues (Expenses)
Interest Income
Property Taxes
Net Income
Retained Earnings
May 1
April 30
1987 1986
Budget Actual Actual
$ 438,000 $ 444,063 $ 439,028
$ 15,000 $ 21,661 $ 13,101
850,000 842,129 797,134
$ 865,000 $ 863,790 $ 810,235
$(427,000) $(419,727) $(371,207)
$ 15,000 $ 17,005 $ 11,517
425,000 424,717 399,219
$ 440,000 $ 441,722 $ 410,736
$ 13,000 $ 21,995 $ 39,529
See accompanying Notes to the Financial Statements.
459,755 420,226
$ 481,750 $ 459,755
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VILLAGE OF DEERFIELD, ILLINOIS
COMMUTER PARKING LOT FUND
BALANCE SHEET
APRIL 30, 1987
ASSETS
Current Assets
Cash and Investments
Fixed Assets
Cost
Accumulated Depreciation
Total Assets
LIABILITIES AND FUND EQUITY
Current Liabilities
Accounts Payable
Compensated Absences Payable
Other Payables
Total Liabilities
Fund Equity
Contributed Capital
Retained Earnings - Unreserved
Total Fund Equity
Total Liabilities and Fund Equity
See accompanying Notes to the Financial Statements.
89
1987 1986
$ 164,524 $ 118,203
$ 691,458 $ 691,458
(243,402) (212,704)
$ 448,056 $ 478,754
$ 612,580 $ 596,957
$ 3,280
$
623
967
392
500
$ 3,672
$
2,090
$ 626,240
$
626,240
(17,332)
(31,373)
$ 608,908
$
594,867
$ 612,580
$
596,957
VILLAGE OF DEERFIELD, ILLINOIS
STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN RETAINED EARNINGS - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1987
Operating Revenues
Parking Lot Fees
Operating Expenses Excluding Depreciation
Operations
Operating Income before
Depreciation
Depreciation
Operating Income before
Operating Transfers
Operating Transfers (Out)
Street and Bridge Fund
Net Income
Retained Earnings
May 1
April 30
1987
Budget
Actual
1986
Actual
$ 93,000 $ 90,953 $ 90,731
25,530 26,214 25,439
$ 67,470 $ 64,739 $ 65,292
30,698 30,698
$ 67,470 $ 34,041 $ 34,594
(20,000) (20,000) (20,000)
$ 47,470 $ 14,041 $ 14,594
See accompanying Notes to the Financial Statements.
(31)373) (45,967)
$(17,332) $(31,373)
90
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VILLAGE OF DEERFIELD, ILLINOIS
COMMUTER PARKING LOT FUND
STATEMENT OF OPERATING EXPENSES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1987
Parking Lots - Village Construction
Salaries
Budget
Actual
Operations
170
Parking Lots - Village and Federal Funds
140
250
Salaries
$ 3,200
$ 3,481
Benefits
140
243
Insurance
400
321
Utility Services
2,000
2,748
Repairs and Maintenance
1,000
Supplies
500
901
Aggregates
500
Equipment
500
$11,341
Property Rentals
7,500
7,440
Materials
800
640
Total
$16,540
$14,873
Less Nonoperating Items
Fixed Assets Capitalized
500
-
Total Parking Lots - Village and Federal Funds
$16,040
$14,873
Parking Lots - Village Construction
Salaries
$ 3,400
$ 3,525
Overtime
170
Benefits
140
250
Insurance
350
320
Utility Services
2,800
5,988
Repairs and Maintenance
1,000
44
Supplies
500
143
Aggregates
200
Materials
1,000
901
Equipment
100
Total Parking Lots - Village Construction
$ 9,490
$11,341
Total Operating Expenses
$25,530
$26,214
91
92
Land
Parking Lot
Parking Lot
VILLAGE OF DEERFIELD, ILLINOIS
COMMUTER PARKING LOT FUND
STATEMENT OF FIXED ASSETS AND DEPRECIATION
FOR THE YEAR ENDED APRIL 30, 1987
Balances
May 1
$ 77,500
613,958
$691,458
Assets
Additions Deletions
Accumulated Depreciation
Balances
April 30
$ 77,500
613,958
$691,458
Balances
Balances
May 1
Provisions Deletions April 30
$212,704
$30,698 $243,402
$212,704
$30,698 — $243,402
Net Asset Value $448,056
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Garage Fund
Fund Description
Garage Fund - To account for all activity necessary to maintain the efficient and
safe operation of Village vehicles and equipment. The Garage is operated and
maintained by the Village of Deerfield and the various departments are billed
according to the services rendered.
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VILLAGE OF DEERFIELD, ILLINOIS
BALANCE SHEET
APRIL 30, 1987
ASSETS
Due from Other Funds
Inventory
Total Assets
LIABILITIES AND FUND EQUITY
Liabilities
Cash Overdrafts
Accounts Payable
Other Payables
Compensated Absences Payable
Total Liabilities
Fund Equity
Retained Earnings
Unreserved
Total Liabilities and Fund Equity
See accompanying Notes to the Financial Statements.
1987 1986
$13,281
$10,761
33,010
29,101
$46,291
$39,862
$40,200 $ 7,244
5,224 8,957
1,144
8,028 7,000
$54,596 $23,201
(8,305) 16,661
$46,291 $39,862
93
94
VILLAGE OF DEERFIELD, ILLINOIS
GARAGE FUND
STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN RETAINED EARNINGS - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1987
Operating Revenues
Charges for Services
Billings
Operating Expenses
Operations
1987 1986
Budget Actual Actual
$148,300 $125,369 $128,562
146,000 150,335 143,129
Net Income (Loss) $ 2,300 $(24,966) $(14,567)
Retained Earnings
May 1 16,661 31,228
April 30 $ (8,305) $ 16,661
See accompanying Notes to the Financial Statements.
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VILLAGE OF DEERFIELD, ILLINOIS
STATEMENT OF CHANGES IN FINANCIAL POSITION
FOR THE YEAR ENDED APRIL 30, 1987
Cash Was Provided By
Increase in Current Liabilities
Cash Was Used To
Fund Operations
Net Loss
Increase Current Assets
Decrease in Current Liabilities
Net Increase (Decrease)
Cash and Investments
May 1
April 30
See accompanying Notes to the Financial Statements.
Totals
1987 1986
- $ 4,241
$ 24,966
6,429
1,561
$ 32,956
$ 14,567
4,200
$ 18,767
$(32,956) $(14,526)
(7,244)
$(40,200)
7,282
$ (7,244)
95
VILLAGE OF DEERFIELD, ILLINOIS
GARAGE FUND
STATEMENT OF OPERATING EXPENSES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1987
Operations
Public Works Department
Salaries
Overtime
Employee Benefits
Apparel
Travel, Training and Dues
Printing and Advertising
Insurance
Miscellaneous
Professional Services
Contractual Services
Utility Services
Repairs and Maintenance
Supplies
Motor Vehicle Supplies
Equipment
Communications
Materials
Small Tools and Equipment
Total Operating Expenses
Budget Actual
$ 59,500 $ 59,472
5,300
5,685
7,450
7,529
500
260
500
114
400
275
6,800
6,755
200
64
50
42
1,300
852
5,000
5,092
47,400
53,645
800
174
8,000
7,880
800
113
500
762
1,500
1,621
$146,000 $150,335
96 �
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IPolice Pension Fund
Fund Descriptions
Police Pension Fund - To account for the resources necessary to provide retirement
and disability benefits to personnel of the Village of Deerfield Police
Department.
Deposit Fund
Deposit Fund - To account for monies on deposit with the Village which are being
held on a temporary basis.
' Deferred Compensation Plan Fund
Deferred Compensation Plan Fund - To account for salary deductions held by the
' Village for certain Village employees. The deferred compensation is available to
employees upon termination or retirement.
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VILLAGE OF DEERFIELD, ILLINOIS
TRUST AND AGENCY FUND
POLICE PENSION FUND
STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1987
Operating Revenues
Taxes
Property Taxes
Replacement Taxes
Contributions
Employee Contributions
Miscellaneous
Interest
Gain`on Sale of Investments
Total Operating Revenues
Operating Expenses
Benefits and Refunds
Pension Payments
Separation Refunds
Miscellaneous
Filing Fee
Total Operating Expenses
Income before Operating Transfers
Operating Transfers In
General Fund
Net Income
Fund Balances
May 1
April 30
1987 1986
Budget Actual Actual
$175,000
$ 174,880
$ 168,972
5,000
5,554
4,751
1051000
99,923
97,525
390,000
381,538
361,378
77,330
$675,000
$ 739,225
$ 632,626
$100,000 $ 83,885 $ 67,873
20,000 17,050
500 99 937
$120,500 $ 101,034 $ 68,810
$554$00 $ 638,191
- 900
$554,500 $ 639,091 $ 563,816
See accompanying Notes to the Financial Statements.
3,772,538 3,208,722
$4,411,629 $3,772,538
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VILLAGE OF DEERFIELD, ILLINOIS
TRUST AND AGENCY FUNDS
POLICE PENSION FUND
STATEMENT OF CHANGES IN FINANCIAL POSITION
FOR THE YEAR ENDED APRIL 30, 1987
Total
1987 1986
Cash Was Provided By
Operations
Net Income $ 639,091 $ 563,816
Increase in Current Liabilities 1,528
Decrease Current Assets 13,419
$ 652,510 $ 565,344
Cash Was Used To
Increase Current Assets $ 14,957
Decrease in Current Liabilities $ 122
$ 122 $ 14,957
Net Increase $ 652,388 $ 550,387
Cash and Investments
May 1 3,519,283 2,968,896
April 30 $4,171,671 $3,519,283
See accompanying Notes to the Financial Statements.
O
100
VILLAGE OF DEERFIELD, ILLINOIS
'
AGENCY
FUNDS
COMBINING
STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
FOR THE YEAR ENDED APRIL Y6-,-T9-F7
Balances
Balances
'
May 1
Increase
Decrease
April 30
All Funds
ASSETS
'
Cash and Investments
$ 67,845
$ 5,429
$ 73,274
Receivables - Other
1,012
$ 1,012
Due from Other Funds
1,214
1,214
Assets Held by Agents for Deferred
Compensation Plan (Market Value)
485,873
165,086
11,070
639,889
Total Assets
$555,944
$170,515
$12,082
$7141377
,
LIABILITIES
Accounts Payable
$ 1,168
$ 3,613
$ 4,781
Deposits Payable
68,903
$ 1,954
66,949
,
Due to Other Funds
2,758
2,758
Due to Participants
485,873
165,086
11,070
639,889
Total Liabilities
$555,944
$171,457
$13,024
$714,377
'
Deposit Fund
ASSETS
'
Cash and Investments
$ 67,845
$ 5,429
$ 73,274
Receivables - Other
1,012
$ 1,012
Due from Other Funds
1,214
1,214
Total Assets
$ 70,071
$ 5,429
$_11012
$ 74,488
LIABILITIES
'
Accounts Payable
$ 1,168
$ 3,613
$ 4,781
Deposits Payable
68,903
$ 1,954
66,949
Due to Other Funds
2,758
2,758
Total Liabilities
$ 70,071
$ 6,371
$ 1,954
L74,488
Deferred Compensation Plan Fund
ASSETS
,
Assets Held by Agents for Deferred
Compensation Plan (Market Value)
$485,873
$165,086
$11,070
$639,889
LIABILITIES
'
Due to Participants
$485,873
$165,086
$11,070
$639,889
See accompanying Notes to the Financial
Statements.
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1
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1
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General Fixed Assets
Account Group
To account for fixed assets not in proprietary fund operations or accounted for in
trust funds.
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VILLAGE OF DEERFIELD, ILLINOIS
GENERAL FIXED ASSETS ACCOUNT GROUP
STATEMENT OF GENERAL FIXED ASSETS
APRIL 30, 1987
GENERAL FIXED ASSETS
Land
Buildings and Improvements
Vehicles
Equipment
INVESTMENT IN GENERAL FIXED ASSETS
General Revenues
General Obligation Bonds
Installment Contracts
See accompanying Notes to the Financial Statements.
$1,929,477
1,237,500
412,994
1,113,035
$4,693,006
$2,793,006
1,500,000
400,000
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VILLAGE OF DEERFIELD, ILLINOIS
GENERAL FIXED ASSETS ACCOUNT GROUP
STATEMENT OF CHANGES IN GENERAL FIXED ASSETS - BY FUNCTION AND ACTIVITY
FOR THE YEAR ENDED APRIL 30, 1987
Function and Activity
General Government
Public Safety
Public Works
1
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Balances
May 1
$1,072,543
2,717,730
756,347
$4,546,620
Additions
$ 74,923
25,500
104,872
$205,295
Deletions
$ 2,614
29,315
26,980
$58,909
Balances
April 30
$1,144,852
2,713,915
834,239
103
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SUPPLEMENTARY DATA
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1
VILLAGE OF DEERFIELD, ILLINOIS
ALL FUNDS
COMBINED STATEIlJE N OF CASH AND INVESDENL'S
APRIL 30, 1987
General
Special Revenue
Municipal Audit
Emergency Services and Disaster
Youth Bound
Library
Street and Bridge
Illinois Kmicipal Retirement
Public Benefit
Federal Revenue Sharing
Motor Fuel Tax
Transportation
Debt Service
Capital Projects
Land Acquisition
Capital Projects
Tax Incremental Finance District
Capital Improvements Series A
Capital Improvements Series B
Brickyards Developnent
Vehicle Replacement
Special Assessments
Enterprise
Water
Sewerage
Refuse
Caawter Parking Lot
Internal Service
Garage
Trust and Agency
Police Pension
Deposit
Cash
$ 4,079,164
$ 158,625
$ 158,625
(83,385)
on
Demand
18,307
Total
1,755,048
Hand
Deposits
Investments
1987
1986
$1,075
$(712,940)
$ 3,926,909
$ 3,215,044 $
3,147,158
8,565
$ 12,356
(7,846)
$ 12,356 $
12,846
552,574
19,645
$ 707,995
19,645
18,199
$ 9,691,393
8,557
$ 59,197
8,557
8,140
$ 600
46,774
$ 364,281 -
411,655 -.
362,435
187,535
128,313
315,848
99,141
(233,217)
250,000
16,783
36,009
63,273
63,273
61,273
(1,567)
4,374
2,807
96,695
8,849
275,000
283,849
233,868
5,963
5,963
4,986
T-60-0
$ 118,168
$ 1,021,968
$ 1,140,736 $
933,592
$(164,759) $ 1,316,523 $ 1,151,764 $ 1,478,968
$ 158,625
$ 4,079,164
$ 158,625
$ 158,625
(83,385)
$ 133,916
50,531
18,307
992,089
1,755,048
2,747,137
1,481,576
(9,873)
1,111,751
1,101,878
1,627,444
(160,600)
6,519,109
6,358,509
6,413,287
8,565
8,565
(7,846)
(197,426)
750,000
552,574
$ 707,995
$10,269,824
$10,977,819
$ 9,691,393
$ 59,197
$ 59,197
$ 50,011
$ 78,176 $ 728,749 $ 806,925 $ 609,984
12,839 909,590 922,429 773,284
(57,659) 150,000 92,341 79,869
164,524 164,524 118,203
$ 197,880 $ 1,788,339 $ 1,986,219 $ 1,581,340
$ (40,200) $ (40,200) $ (7,244)
$ 92,507
$ 4,079,164
$ 4,171,671
$ 3,519,283
44,653
28,621
73,274
67,845
$ 137,160
$ 4,107,785
$ 4,244,945
$ 3,587,128
$1,675 $ 243,304
$22,490,545
$22,735,524
$20,462,346
106
VILLAGE OF DEERFIELD, ILLINOIS
LONG -TERM DEBT REQUIREMENTS
SEWERAGE IMPROVEMENT BOND SERIES OF 1973
APRIL 30, 1987
Date of Issue
Date of Maturity
Authorized Issue
Actual Issue
Denomination of Bonds
Interest Rate
Principal Maturity Date
Interest Dates
Payable at
June 1, 1973
December 1, 1992
$1,080,000
$1,080,000
$5,000
4.4% -5.1%
December 1
June 1 and December 1
Belleville National Savings
Bank
PRINCIPAL AND INTEREST REQUIREMENTS
Tax
Bond Levy
Numbers Year Principal Interest Total
122 -136
1985
June 1
$ 9,888
$ 9,888
137 -151
1986
$ 75,000
17,975
92,975
152 -166
1987
75,000
14,337
89,337
167 -181
1988
75,000
10,625
85,625
182 -196
1989
75,000
6,875
81,875
197 -206
1990
50,000
3,750
53,750
207 -216
1991
50,000
1,250
51,250
Coupons Due on
Dec. 1
Amount
June 1
Amount
1987
$ 9,888
1987
$ 9,888
1988
8,087
1988
8,087
1989
6,250
1989
6,250
1990
4,375
1990
4,375
1991
2,500
1991
2,500
1992
1,250
1992
1,250
$400,000 $64,700 $464,700 $32,350 $32,350
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107
VILLAGE OF DEERFIELD, ILLINOIS
LONG -TERM DEBT REQUIREMENTS
SEWERAGE TREATMENT FACILITIES BOND SERIES OF 1973
APRIL 30, 1987
Date of Issue
Date of Maturity
Authorized Issue
Actual Issue
Denomination of Bonds
Interest Rate
Principal Maturity Date
Interest Dates
Payable at
Bond
Numbers
216 -240
241 -265
266 -296
297 -315
316 -340
341 -370
371 -400
Tax
Levy
Year
1985
1986
1987
1988
1989
1990
1991
June 1, 1973
December 1, 1992
$2,000,000
$2,000,000
$ 5,000
4.4% -6.0%
December 1
June 1 and December 1
Belleville National Savings
Bank
PRINCIPAL AND INTEREST REQUIREMENTS
Principal Interest Total
$ 19,813 $ 19,813
$125,000
36,625
161,625
125,000
30,562
155,562
125,000
24,375
149,375
125,000
18,125
143,125
150,000
11,250
161,250
150,000
3,750
153,750
$800,000 $144,500 $944,500
Coupons Due on
Dec. 1
Amount
June 1
Amount
1987
$19,813
1987
$19,813
1988
16,812
1988
16,812
1989
13,750
1989-
13,750
1990
10,625
1990
10,625
1991
7,500
1991
7,500
1992
3,750
1992
3,750
$72,250 $72,250
VILLAGE OF DEERFIELD, ILLINOIS
LONG -TERM DEBT REQUIREMENTS
CORPORATE PURPOSE BOND SERIES OF 1983
APRIL 30, 1987
Date of Issue December 1, 1983
Date of Maturity December 1, 1988
Authorized Issue $500,000
Actual Issue $500,000
Denomination of Bonds $ 5,000
Interest Rate 8.5%
Principal Payment Date December 1
Interest Dates June 1 and December 1
Payable at American National Bank & Trust
PRINCIPAL AND INTEREST REQUIREMENTS
$250,000
Interest Total
$17,750 $142,750
9,000 134,000
$26,750 $276,750
Coupons Due on
June 1 Amount Dec. 1 Amount
1987 $ 8,875 1987 $ 8,875
1988 4,500 1988 4,500
$13,375 $13,375 '
Tax
Bond
Levy
Numbers
Year
Principal
51- 75
1986
$125,000
76 -100
1987
125,000
$250,000
Interest Total
$17,750 $142,750
9,000 134,000
$26,750 $276,750
Coupons Due on
June 1 Amount Dec. 1 Amount
1987 $ 8,875 1987 $ 8,875
1988 4,500 1988 4,500
$13,375 $13,375 '
1
1
1
1
1
Pi
1
1
1
1
1
1
1
1
1
1
1
1
1
Date of Issue
Date of Maturity
Authorized Issue
Actual Issue
Denomination of Bonds
Interest Rate
Principal Payment Date
Interest Dates
Payable at
VILLAGE OF DEERFIELD, ILLINOIS
LONG -TERM DEBT REQUIREMENTS
CORPORATE PURPOSE BOND SERIES OF 1982
APRIL 30, 1987
October 1, 1982
December 1, 1994
$500,000
$500,000
$ 5,000
10.25% - 9.60%
December 1
June 1 and December 1
The Northern Trust Company
109
PRINCIPAL AND INTEREST REQUIREMENTS
Tax
Bond Levy Coupons Due on
Numbers Year Principal Interest Total June 1 Amount Dec. 1 Amount-
11-15
1986
$ 25,000
$ 40,962
$ 65,962
1987
$ 20,481
1987
$ 20,481
16 -25
1987
50,000
38,400
88,400
1988
19,200
1988
19,200
26 -35
1988
50,000
34,275
84,275
1989
17,138
1989
17,137
36 -45
1989
50,000
30,025
80,025
1990
15,013
1990
15,012
46 -55
1990
50,000
25,650
75,650
1991
12,825
1991
12,825
56 -70
1991
75,000
21,150
96,150
1992
10,575
1992
10,575
71 -85
1992
75,000
14,250
89,250
1993
7,125
1993
7,125
86 -100
1993
75,000
7,200
82,200
1994
3,600
1994
3,600
$450,000
$211,912
$661,912
$105,957
$105,955
110
VILLAGE OF DEERFIELD, ILLINOIS
LONG -TERM DEBT REQUIREMENTS
CORPORATE PURPOSE BOND SERIES OF 1982 - A
APRIL 30, 1987
Date of Issue
Date of Maturity
Authorized Issue
Actual Issue
Denomination of Bonds
Interest Rate
Principal Payment Date
Interest Dates
Payable at
Bond
Numbers
31 -40
41 -50
51 -60
61 -70
71 -80
81 -90
91 -100
Tax
Levy
Year
1986
1987
1988
1989
1990
1991
1992
December 1, 1982
December 1, 1993
$500,000
$500,000
$ 5,000
7.0% - 8.5%
December 1
June 1 and December 1
American Fletcher National
Bank, Indianapolis
PRINCIPAL AND INTEREST REQUIREMENTS
Principal Interest Total
$ 50,000 $ 28,750 $ 78,750
50,000
24,750
74,750
50,000
20,750
70,750
50,000
16,750
66,750
50,000
12,750
62,750
50,000
8,500
58,500
50,000
4,250
54,250
$350,000 $116,500 $466,500
Coupons Due on
June 1
Amount
Dec. 1
Amount
1987
$14,375
1987
$14,375
1988
12,375
1988
12,375
1989
10,375
1989
10,375
1990
8,375
1990
8,375
1991
6,375
1991
6,375
1992
4,250
1992
4,250
1993
2,125
1993
2,125
$58,250 $58,250
1
1
1
1
1
1
1
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1
1
1
1
1
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1
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
LONG -TERM DEBT REQUIREMENTS
CORPORATE PURPOSE BOND SERIES OF 1986
APRIL 30, 1987
Date of Issue May 1, 1986
Date of Maturity January 1, 2005
Authorized Issue $11,000,000
Actual Issue $11,000,000
Denomination of Bonds $ 5,000
Interest Rate 6.4% - 7.75%
Principal Payment Date January 1
Interest Dates January 1 and July 1
Payable at American National Bank & Trust Co.
Chicago, Illinois
PRINCIPAL AND INTEREST REQUIREMENTS
Tax
111
Levy
Coupons
Due on
Year
Principal
Interest
Total
Jan. 1
Amount
July 1
Amount
1986
$ 125,000
$ 758,862
$ 883,862
1988
$ 379,431
1987
$ 379,431
1987
175,000
749,175
924,175
1989
374,588
1988
374,587
1988
300,000
735,613
1,035,613
1990
367,807
1989
367,806
1989
410,000
712,363
1,122,363
1991
356,182
1990
356,181
1990
445,000
680,588
1,125,588
1992
340,294
1991
340,294
1991
485,000
646,100
1,131,100
1993
323,050
1992
323,050
1992
515,000
608,513
1,123,513
1994
304,257
1993
304,256
1993
545,000
568,600
1,113,600
1995
284,300
1994
284,300
1994
580,000
529,905
1,109,905
1996
264,953
1995
264,952
1995
620,000
492,785
1,112,785
1997
246,393
1996
246,392
1996
660,000
452,485
1,112,485
1998
226,243
1997
226,242
1997
700,000
: 408,925
1,108,925
1999,
204,463
1998
204,462
1998
750,000
362,025
1,112,025
2000
181,013
1999
181,012
1999
800,000
311,025
1,111,025
2001
'1555513
2000
155,512
2000
855,000
255,825
1,110,825
2002
127,913
2001
127,912
2001
915,000
198,113
1,113,113
2003
99,057
2002
99,056
2002
975,000
136,350
1,111,350
2004
68,175
2003
68,175
2003
1,045,000
70,538
1,115,538
2005
35,269
2004
35,269
$10,900,000
$8,677,790
$19,577,790
$4,338,901
$4,338,889
112
VILLAGE OF DEERFIELD, ILLINOIS
LONG -TERM DEBT REQUIREMENTS
WATER REVENUE BOND SERIES OF 1960
APRIL 30, 1987
Date of Issue
January
1, 1960
Date of Maturity
May 1, 1989
Actual Issue
$125,000
Year
Denomination of Bonds
1 -125 @
$1,000
Interest Rates
4.75% -
4.25%
Interest Dates
November
1, May 1
Principal Maturity Date
May 1
Interest
Payable at
LaSalle
National Bank Chicago
PRINCIPAL AND
INTEREST
REQUIREMENTS
Year
Bond
Coupons
Due on
Ended
Numbers
Principal
Interest
Total
Nov. 1
Amount
May 1
Amount
1987
96 -105
$10,000
$ 638
$10,638
1986
1987
$ 638
1988
106 -115
10,000
850
10,850
1987
$ 425
1988
425
1989
116 -125
10,000
425
10,425
1988
212
1989
213
$30,000
$1,913
$31,913
$ 637
$1,276
1
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113
VILLAGE OF DEERFIELD, ILLINOIS
LONG -TERM DEBT REQUIREMENTS
WATER REVENUE BOND SERIES OF 1959
APRIL 30, 1987
Date of Issue April 1, 1959
Date of Maturity May 1, 1989
Actual Issue $545,000
Denomination of Bonds 1 -545 @ $1,000
Interest Rates 5% - 4.25%
Interest Dates November 1 - May 1
Principal Maturity Date May 1
Payable at LaSalle National Bank Chicago
PRINCIPAL AND INTEREST REQUIREMENTS
Year
Bond
Coupons
Due on
Ended
Numbers
Principal
Interest
Total
Nov. 1
Amount
May 1
Amount
1987
441 -475
$ 35,000
$ 2,231
$ 37,231
1986
1987
$2,231
1988
476 -510
35,000
2,976
37,976
1987
$1,488
1988
1,488
1989
511 -545
35,000
1,488
36,488
1988
744
1989
744
$105,000
$ 6,695
$111,695
$2,232
$4,463
114
VILLAGE OF DEERFIELD, ILLINOIS
POLICE PENSION FUND
STATEMENT OF OFFICERS' DEPOSITS
APRIL 30, 1987
Balance
Balance
May 1
Deposits
Withdrawals April 30
1050
Kenneth Anderson
$ 24,305
$ 3,725
$ 28,030
1075
Leo Anderson
24,001
3,691
27,692
1078
Mark Anfenson
7,689
2,825
10,514
1125
Marcea Ross
18,672
2,816
21,488
1325
Richard Brandt
37,332
4,943
42,275
1335
Kurt Bruno
1,702
2,179
3,881
1350
William Butler
31,440
2,816
34,256
1355
Louis Cacciatore
4,081
2,350
6,431
1400
Robert Charles
32,544
32,544
1550
Gordon Cooper
26,387
26,387
1600
Robert Davenport, Jr.
39,268
4,078
43,346
1700
David P. Ebert
27,506
2,816
30,322
1750
John Elofson
25,053
2,816
27,869
1800
William Ennis
19,472
2,826
22,298
1853
Dani Beth Firfer
111
111
1925
Marie Rose Gawne
16,798
2,434
19,232
2000
Robert Hamilton
35,677
3,433
39,110
2100
Thomas Hill
31,879
3,499
35,378
2125
George Hoffman
26,904
2,816
29,720
2225
Kevin K. Keel
1,187
1,187
2250
Larry Kick
31,344
180
31,524
2365
Dave Lemmer
4,611
2,543
7,154
2430
Eric Lundahl
11,853
2,816
14,669
2525
Jeffrey McDermott
34,943
3,551
38,494
2715
Robert Ogden
10,408
2,816
13,224
2893
Rand J. Roel
7,027
2,670
9,697
2985
Michael E. Scarry
1,927
2,196
4,123
3025
John Sebben
24,021
2,816
26,837
3075
Thomas Sheahan
20,857
2,816
23,673
3125
Thomas Skrabala
29,793
4,093
33,886
3150
John Sliozis
19,709
3,464
23,173
3225
Michael Soler
22,247
2,816
25,063
3235
Melvin Soltwisch
2,515
2,240
4,755
3325
Gary Stryker
30,729
3,368
34,097
3500
Larry Tousignant
35,423
3,656
39,079
3525
David Turnbaugh
31,271
3,499
34,770
3650
Glenn E. Webb
16,858
$16,858
3675
Richard Weil
11,363
2,816
14,179
380A
George Hall
9,604
9,604
380B
David J. Petersen
7,287
7,287
380C
Thomas G. Rogge
9,411
9,411
$803,911
$99,717
$16,858 $886,770
VILLAGE OF DEERFIELD, ILLINOIS
STATEMENT OF INSURANCE IN FORCE
APRIL 30, 1987
1
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Insureds
Description of Coverage
Village of Deerfield
g
Workmens Compensation
pe sation
Statutory/
$30,000,000
Village of Deefield
Comprehensive Automobile Liability
Bodily Injury and Property
$1,000,000
Village of Deerfield
General Liability
$1,000,000
Village of Deerfield
Blanket Building and Contents
$30,000,000
Village of Deerfield
Boiler and Machinery
$10,000
Public Officials
Blanket Bond Coverage
$10,000/
$1;000,000
The Village of Deerfield is
a member of the Municipal Insurance
Cooperative Agency.
Property, automobile liability,
general liability, and workers' compensation are
provided under the Agency.
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1
' VILLAGE OF DEERFIELD, ILLINOIS
' PROPERTY TAX ASSESSED VALUATIONS, RATES,
EXTENSIONS AND COLLECTIONS
LAST TEN FISCAL YEARS
APRIL 30, 1987
11
1
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VILLAGE OF DEERFIELD, ILLINOIS
ASSESSED AND ESTIMATED VALUE OF TAXABLE PROPERTY
LAST TEN FISCAL YEARS
APRIL 30, 1987
Tax
Assessed
Value
Levy
Real
Personal
Railroad
Estimated
Year
Property
Property*
Property
Total
Value
1977
$151,516,439
$4,847,432
$34,815
$156,398,686
$469,000,000
1978
167,268,250
6,900,001
35,541
174,203,792
526,000,000
1979
187,888,610
16,018
187,904,628
564,000,000
1980
221,339,145
18,044
221,357,189
664,000,000
1981
227,433,235
24,051
227,457,286
682,000,000
1982
236,918,613
25,565
236,944,178
711,000,000
1983
235,899,599
31,938
235,931,537
708,000,000
1984
245,799,001
39,522
245,838,523
738,000,000
1985
249,312,226
38,331
249,350,557
748,000,000
1986
279,339,024
47,194
279,386,218
839,000,000
* No longer assessed due to change in Illinois State Statutes.
Office of the County Clerk
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VILLAGE OF DEERFIELD, ILLINOIS
SPECIAL ASSESSMENT COLLECTIONS
LAST TEN FISCAL YEARS
APRIL 30, 1987
Fiscal Assessments
Year Collections
1978
$64,952
1979
66,386
1980
19,436
1981
21,919
1982
22,078
1983
30,451
1984
16,248
1985
35,075
1986
2,400
1987
5,465
Village Records
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VILLAGE OF DEERFIELD, ILLINOIS
STATEMENT OF LEGAL DEBT MARGIN
APRIL 30, 1987
Article VII, Section 6(k) of the 1970 Illinois Constitution governs computation
of the legal debt margin.
"The General Assembly may limit by law the amount and require refer-
endum approval of debt to be incurred by home rule municipalities,
payable from ad valorem property tax receipts, only in excess of the
following percentages of the assessed value of its taxable property...
(2) if its populations is more than 25,000 and less than 500,000 an
aggregate of one percent:... indebtedness which is outstanding on the
effective date (July 1, 1971) of this constitution or which is there-
after approved by referendum... shall not be included in the foregoing
percentage amounts."
To date the General Assembly has set no limits for home rule municipalities.
Illustrative Computation of Debt Margin
if Village Were Not a Home Rule Municipality
Village of Deerfield is a home rule municipality and as such has no debt
limitations. If, however, the Village were a non -home rule village its available
debt limit would be as follows:
Assessed Valuation - Estimated
Legal Debt Limit - 8.625
Amount of Debt Applicable to Limit
Sewerage
Improvement Bonds
$ 400,000
Sewerage
Treatment
Facility Bonds
800,000
Corporate
Purpose
Bond Series
1982
450,000
Corporate
Purpose
Bond Series
1982 -A
350,000
Corporate
Purpose
Bond-Series
1983
250,000
Corporate
Purpose
Bond Series
1986
10,900,000
Legal Debt Margin
$279,386,218
$ 24,097,061
13,150,000
$ 10,947,061
1
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1
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Governmental Unit
VILLAGE OF DEERFIELD. ILLINOIS
STATEMENT OF DIRECT AND OVERLAPPING DEBT
APRIL 30, 1987
Village of Deerfield
Cook County
Metropolitan Sanitary District
Lake County
North Shore Sanitary District
Deerfield Park District
Northbrook Park District
Highland Park District
Deerfield Elementary #109
Highland Park Elementary #108
Junior College #532
Total
(1)
Gross Debt
$ 13,150,000
337,050,000
647,390,000
52,015,000
5,880,000
930,000
9,775,000
900,000
350,000
590,000
9,216,500
(2)
* Percentage of
Debt Applicable
to the Village
100.000
.079
.080
5.060
.026
96.520
3.658
1.758
73.622
6.325
6.105
124
** Village's
Share of Debt
$13,150,000
266,270
517,912
2,631,959
15,288
897,636
357,570
15,822
257,677
37,318
562,667
$18.710.119
* - Determined by ratio of assessed value of property subject to taxation
in overlapping unit to valuee of proprty subject to taxation.
** - Amount in column .(2) multipmlied by count in column (1).
' Data Source
(1) Office of the County Clerk
(2) Office of the-County Clerk
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VILLAGE OF DEERFIELD, ILLINOIS
DEMOGRAPHIC STATISTICS
LAST TEN FISCAL YEARS
APRIL 30, 1987
(2)
Per
Fiscal (1) Household
Year Population Income
(3)
Percentage of
People Over
25 Years of (4)
(2) Age With Four School
Median or More Years Enroll -
Age of .College ment
1978
17,717
$34,356
31.2
49.2
5,123
1979
17,753
34,678
32.0
49.2
4,838
1980
17,430
35,000
32.7
50.1
4,568
1981
17,453
373000
33.3
50.1
4,318
1982
17,476
39,000
34.0
50.3
4,106
1983
17,487
41,000
34.7
50.4
3,933
1984
17,500
45,000
35.4
50.7
3,788
1985
17,500
45,400
36.1
50.8
3,703
1986
17,500
46,100
36.5
51.0
3,715
1987
17,500
47,500
36.8
51.1
3,602
Data Sources
127
(5)
Unemploy-
ment
Percentage
1.0
1.8
1.7
2.2
2.1
1.9
2.0
1.7
1.3
(1) 1980 - Census figure; 1978 -79 estimated by using 1978 -1980 Census data;
1981 -1987 derived from data from the Department of Commerce and Community
Affairs.
(2) 1978 -1980, Northeastern Illinois Planning Commission figures; 1981 -1987 based
upon Deerfield Chamber of Commerce figures.
(3) Percentage of people over 25 years of age or over with 4 or more years of
College education. Northeastern Illinois Planning Commission.
(4) Enrollment figures derived from combined enrollement of District 109 (grade
school), and District 113 (high school).
(5) Unemployment figures based on 1/4 of Lake County figures. 1980 Census data
figures show 7.0% unemployment for Lake County and 1.8% for Deerfield.
' 128
VILLAGE OF DEERFIELD, ILLINOIS
PROPERTY VALUE, CONSTRUCTION, AND BANK DEPOSITS
I LAST TEN FISCAL YEARS
APRIL 30, 1987
1
1
1
1
1
1
1
(1)
(1)
'
Commercial
Residential
(3)
Construction
Construction
(2)
Total
Fiscal
Number
Number
Bank
Property
'
Year
of Units
Value
of Units Value
Deposits
Value
1978
66
$ 9,175,438
121 $ 3,649,126
$ 40,288,000
$465,000,000
1979
81
5,994,271
50 1,176,405
42,531,000
519,000,000
'
1980
52
1,580,392
67 5,650,240
49,178,000
564,000,000
1981
59
3,235,868
85 1,852,788
52,282,000
664,000,000
'
1982
1983
77
84
9,758,795
20,369,020
86 1,689,832
104 5,673,638
53,522,000
63,218,000
682,000,000
711,000,000
1984
52
12,146,201
46 5,131,160
63,877,000
708,000,000
1985
101
34,504,614
50 6,552,552
64,750,000
710,800,000
'
1986
135
37,746,399
90 11,318,142
130,155,000
748,100,000
1987
79
44,287,589
86 8,089,179
141,241,000
838,160,000
'
Data Sources
(1) Construction
figures - Village
of Deerfield, Building
and Zoning
Department.
(2) Bank Deposits
were based
on commercial bank deposits.
(3) Estimated
historical
cost
data provided by Township's
Assessors
Office
1
1
1
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
PRINCIPAL TAXPAYERS
Taxpayers
Deerbrook Partnership
American National Bank
and Trust #51702
Travenol Labs, Inc.
Lake Cook Plaza
Walsh- Higgins Mgmt.
Sara Lee Incorporated
Draper & Kramer, Inc.
Floodstrom Construction
Teradyne
Whitehall Nursing Corp.
Data Source
Office of the County Clerk
APRIL 30, 1987
129
Percentage
of Total
Assessed
Valuation
5.24
4.65
2.79
1.79
1.67
1.58
1.29
1.02
.99
.73
21.74%
1986
Assessed
Business
Valuation
Deerbrook Shopping Center
$14,631,093
Lake Cook Office Center
12,994,497
Office Buildings
7,790,719
Shopping Center
5,007,201
Tollway No. Off. Buildings
4,656,572
Bakery Products
4,402,772
Office Buildings
3,605,256
Office Buildings
2,858,938
Office Buildings
2,771,042
Skilled Nursing Facility
2,033,038
eGn Iql 1qQ
129
Percentage
of Total
Assessed
Valuation
5.24
4.65
2.79
1.79
1.67
1.58
1.29
1.02
.99
.73
21.74%
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
MISCELLANEOUS STATISTICS
APRIL 30, 1987
Date of Incorporation
Form of Government
Geographic Location
Area
Population
1950
1960
1970
1980
MUNICIPAL SERVICES AND FACILITIES
Fire Protection:
1903
Manager /Council
North Suburban
Chicago
3,288
11,748
18,876
17,430
130
Number of Stations
1
Number of Firemen and Officers
27
Police Protection:
Number of Stations
1
Number of Policemen and Officers
35
Education
Elementary Schools
7
High Schools
1
Municipal Water Department:
Number of Consumers
5,446
Average Daily Consumption
2,200,000 Gal.
Miles of Water Main
70 Miles
Sewers
Sanitary Sewers 65 Miles
Storm Sewers 46 Miles
Building Permits Issued 898
Recreation and Culture
Number of Parks 131 Acres
Number of Libraries 1
Number of Volumes (Approx.) 192,698
Employees
Administration 26