Village CAFR For Year Ended April 30, 1990 (2)a
LONIP�IENSI"VE
ANNUAL for the year ended
FINANCIIAL April 30, 1990
REPORT I
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FINANCIAL REPOR
' FOR THE
' FISCAL YEAR ENDED
APRIL 30, 1980
' PREPARED BY
GEORGE J. VALENTINE
' FINANCE DIRECTOR
� VILLAGE.O.F DEERFiELD, ILLINOIS
TABLE OF CONTENTS
INTRODUCTORY SECTION'
Principal Officials
Organization Chart
Certificate of Achievement for Excellence in
Financial Reporting
Letter of Transmittal
FINANCIAL SECTION
INDEPENDENT AUDITOR'S REPORT
GENERAL PURPOSE FINANCIAL STATEMENTS
CombinedBalance Sheet - All Fund Types
and Account Groups
Combined Statement of Revenues, Expenditures,
and Changes in Fund Balances— All Governmental
and Fiduciary (Expendable Trust) 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
PAGE
i
ii
1-2
3
4
5
6
7
8-45
TABLE OF CONTENTS (CONT.)
FINANCIAL SECTION (CONT.)
COMBINING. INDIVIDUAL FUND, AND ACCOUNT GROUP
STATEMENTS AND SCHEDULES
GOVERNMENTAL FUND TYPES
GENERAL FUND
General Fund
Financial Statements
Balance Sheet
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual
Supplemental Schedules
Schedule of Revenues - Budget and Actual
Schedule of Expenditures - Budget and Actual
SPECIAL REVENUE FUNDS
All Funds
Financial Statements
Combining Balance Sheet
Combining Statement of Revenues, Expenditures,
and Changes in Fund Balances
Municipal Audit Fund
Financial Statements
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual
Emergency Services/Disaster Fund
Financial Statements
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual
Youth Bound Fund
Financial Statements
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual
PAGE
46
47
48
49-51
52
53
54
55
56
TABLE OF CONTENTS (CONT.),
PAGE
FINANCIAL SECTION (CONT.)
GOVERNMENTAL FUND TYPES (CONT.)
SPECIAL REVENUE FUNDS (.CONT.)
Library Fund
Financial Statements
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual
57
Supplemental'Schedules
Schedule of Expenditures - Budget and Actual
58
IStreet
and Bridge Fund
Financial Statements
Statement.of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual
59.
Supplemental Schedules
Schedule of Expenditures - Budget and Actual
60-64
Illinois.Municipal Retirement Fund
Financial Statements
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual.
65
Public
Benefit' Fund
Financial Statements
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget..and Actual
66
Motor Fuel Tax Fund
Financial Statements
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual
67
Transportation Fund
Financial Statements
Statement of Revenues, Expenditures, and
Changes in Fund Balance - Budget and Actual
68
I.
TABLE OF CONTENTS (CONY.)
PAGE
i
FINANCIAL SECTION (CONT.)
GOVERNMENTAL FUND TYPES (CONT.)
SPECIAL REVENUE FUNDS (CONT.)
Enhanced 911 Fund
Financial.Statements
.Statement of.Revenues, Expenditures, and
Changes in Fund Balance— Budget and 'Actual.
SERVICE FUND
I
DEBT ..
Debt Service Fund'
Financial Statements
'.
Balance Sheet
70
Statement.of Revenues-, Expenditures,
and Changes in Fund.Balance-_Budget.and Actual
71•
Supplemental Schedules
Schedule of Expenditures - Budget and Actual
72
CAPITAL PROJECTS FUNDS
All Funds
Financial Statements
Combining Balance Sheet
73
'Ir
Combining Statement of Revenues, -Expenditures,
and,Changes in Fund Balances
74 .
PROPRIETARY FUND TYPES
ENTERPRISE•FUNDS
All Funds
,
Financial Statements
Combining Balance Sheet
75
Combining Statement of Revenues, Expenses, and
'
Changes in Retained Earnings - Unreserved
76
Combining Statement of Changes in
Financial Position
77
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TABLE.OF CONTENTS (CONT.)
FINANCIAL SECTION (CONT.)
PROPRIETARY FUND TYPES (CONT.)
ENTERPRISE FUNDS�(CONT.)
Water Fund -
Financial Statements
Balance Sheet
Statement of Changes in Retained Earnings -
Reserved - Restricted Accounts.
Statement of Revenues, Expenses, and Changes in
Retained Earnings - Unreserved - Budget and Actual
Supplemental. Schedules
Schedule of Operating Expenses - Budget and Actual.
Schedule of Fixed Assets and Depreciation
Sewerage Fund
Financial Statements
Balance Sheet
Statement of Revenues, Expenses, and Changes in
Retained Earnings - Unreserved - Budget and Actual
Supplemental Schedules
Schedule of Operating Expenses - Budget and Actual
Schedule of Fixed Assets and Depreciation
Refuse Fund
Financial Statements
Balance Sheet
Statement of Revenues, Expenses, and Changes in
Retained Earnings - Unreserved - Budget and Actual
Commuter Parking Lot Fund
Financial Statements
Balance Sheet
Statement of Revenues, Expenses, and Changes in
Retained Earnings - Unreserved - Budget and Actual
Supplemental Schedules
Schedule of Operating Expenses - Budget and Actual
Schedule of Fixed Assets and Depreciation
PAGE
78
79
80
81-83
84
85
86
87-89
90
91
92
93
94
95
96
TABLE OF CONTENTS (CONT.)
FINANCIAL SECTION (CONT.)
PROPRIETARY FUND TYPES (CONT.)
INTERNAL SERVICE FUND
.Garage Fund
Financial Statements
Balance Sheet
Statement of Revenues, Expenses, and
Changes in Retained Earnings Budget and Actual
Statement of Changes in Financial Position
.Supplemental Schedules
Schedule -of Operating Expenses - Budget.and Actual
FIDUCIARY FUND TYPES
TRUST AND AGENCY FUNDS
All Funds
Financial Statements
Combining Balance Sheet
Statement of Revenues, Expenditures, and Changes
in Fund Balance (Expendable Trust Fund)
Statement of Revenues, Expenses, and Changes in
Fund Balance Budget and Actual (Pension. Trust Fund)
Statement of Changes in Financial Position (Pension
Trust Fund)
Combining Statement of Changes in Assets and.Liabilities
(Agency Funds)
ACCOUNT GROUPS
GENERAL FIXED ASSETS ACCOUNT GROUP
Supplemental Schedules
Schedule of General Fixed Assets - By Source.
Schedule of General Fixed Assets - By Function
and Activity
Schedule of Changes in General Fixed Assets By Function and Activity
GENERAL LONG-TERM DEBT ACCOUNT GROUP
Supplemental Schedules
Schedule of General Long -Term Debt
PAGE
97
98
99
100
101
102
103
104
105-106
107
108
109
110
TABLE OF CONTENTS (CONT.)
FINANCIAL SECTION (CONT.)
SUPPLEMENTAL DATA
Required Supplementary Information
Analysis of Funding Progress
Illinois Municipal Retirement Fund
Police Pension Fund
Revenues by Source —
Illinois
Illinois Municipal Retirement Fund
Revenues by Source.and.Expenses by Type
Police Pension Fund
' Schedule of Officers' Deposits (Police Pension Fund)
Schedule of Insurance in Force
' Long -Term Debt Requirements
' Sewerage Improvement Bond Series of 197.3
Sewerage Treatment Facilities Bond Series of 1973.
Corporate Purpose Bond Series of 1982
Corporate Purpose Bond Series of 1982-A
Corporate Purpose Bond Series of 1986
Corporate Purpose Bond Series of 1987
General Obligation Bond Series of.1988
STATISTICAL SECTION
General Governmental Revenues by Source
Last Ten Fiscal.Years
General Governmental Expenditures by
Function - East Ten Fiscal Years
Property Tax Assessed Valuations, Rates,. Extensions,
and Collections - Last Ten Fiscal Years
Assessed and Estimated Actual Value of Taxable
Property - Last Ten Fiscal Years
Property Tax Rates - Direct and Overlapping Governments -
Last Ten Fiscal Years
Ratio of Net General Obligation.Bonded Debt to Assessed
Value and Net General Obligation Bonded Debt Per
Capita— Last Ten Fiscal Years
Schedule of Direct and Overlapping Bonded Debt
PAGE
ill
112.
113.
114
115
116
117
118
119
120
121
122
123
129
130
TABLE OF CONTENTS (CONT.)
PAGE
STATISTICAL SECTION (CONT.)
.
i
Schedule of Legal_Debt Margin
131
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Ratio of. Annual Debt Service Expenditures for General
Bonded Debt to Total General Governmental.
Expenditures.- Last Ten Fiscal Years
132
Demographic Statistics - Last Ten Fiscal Years:
Property Value, Construction, and Bank.Deposits -
Last Ten Fiscal.years
134
Principal Taxpayers
135.
1.
Miscellaneous Statistics
136-137 .
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A �_
INTRODUCTORY SECTION
VILLAGE OF DEERFIELD, ILLINOIS.
PRINCIPAL OFFICIALS
APRIL 309 1990
LEGISLATIVE
VILLAGE BOARD OF TRUSTEES.:
Bernard Forrest, Mayor.
Harriet-E. Rosenthal Edwin B. Seidman
James L. Marovitz Vernon E. Swanson
Cynthia.J. Marty J. Robert. York
Robert D. Franz,.Clerk,
ADMINISTRATIVE
Robert D. Franz, Village Manager
FINANCE DEPARTMENT
George J. Valentine
Director of Finance/Treasurer
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Certificate � of
Achievement.
for.Exce'lle'nce'
in Financial
Reporting
Presented to
Village,. of Deerfield,
Illinois
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
April 30, 1989
A Certificate of Achievement for Excellence in Financial'
Reporting is presented by the Government Finance Officers.
Association of the United States and .Canada to
government units and public employee retirement,
systems -whose comprehensive annual financial
reports (CAFR's): achieve the highest
standards in government accounting
,and financial reporting. -
OF
TEosuresAn 9 president
CAK40A' o
COWMTM S
sEAl,
Executive Director
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October 23, 1990
VILLAGE•OF DEERFIELD
Dear Mr. Franz:
' The comprehensive annual financial report of the Village of Deerfield for
the fiscal year ended April 30, 1990, is hereby submitted. Responsibility
for both the accuracy of the data and the completeness and fairness of
the presentation, including all disclosures, rests with the Village. To
the best of our knowledge and belief,. the enclosed data are accurate in
all material respects and are reported.in a manner designed to present
fairly the financial position and results of operations of the various
funds and account groups of the Village. All disclosures necessary to
enable the reader to gain an understanding of the Village's financial
activities have been included.
The comprehensive annual financial report is presented in three sections:
introductory, financial, and statistical. The introductory section
includes this transmittal letter, the Village's organizational chart and a
list of principal officials. The financial section includes the general
purpose financial statements, the combining, individual fund, and account
group financial statements and schedules, as well as the independent
auditors' report on the financial statements and schedules. The
statistical section includes selected financial and demographic
information, generally presented on a multiyear basis.
This report includes all funds and account groups of the Village. The
Village provides a full range of services. These services include.police
protection; sanitation services; the construction and maintenance of
highways, streets, sanitary sewers, waste water treatment infrastructure;
and cultural events. In addition to general Village activities, the
Village Board exercises, or has the ability to exercise, oversight of the
Village of Deerfield Police Pension Retirement.System and the Deerfield
Public Library. These activities are included in the reporting entity,
however, the West Deerfield Township, Highland Park Mosquito Abatement
District, Deerfield Park District and Deerfield Bannockburn Fire Protection
District have not met the established criteria for inclusion in the
reporting entity, and, accordingly, are excluded from this report.
iv
1 850 WAUKEGAN ROAD DEERFIELD, ILLINOIS 60015 TELEPHONE 708.945.5000
ECONOMIC CONDITION AND OUTLOOK
The Village has experienced significant growth on.its southern boundary.
A large portion of the growth has been in.Cook County. The Cook County
area now.encompasses 12.1% of the Village's equalized assessment
valuation, and, according to the 1980 census, the Village has no residences
in that area. A further indication of the Village's financial growth is
the Village's current inventory of 1050 hotel/motel rooms. .In 1985 the.
Village had none. This is important to the Village in that the Village
levies.a 5% occupancy tax on rooms which yielded $674",367 for the year
ending 4/30/90.
Sara Lee, a bakery products company, has indicated to the Village that they
will be closing down their bakery operations in early 1991. The.Village
does not believe that this will have a significant impact on Village
revenues in that Sara Lee's.assessed valuation is approximately 1.2% of the
Village's total. This site has little retail sales to the public;,.
therefore, the only sales .tax generated by this facility is through an
outlet store. It is estimated to be less than $10,000 per year. There are
approximately 400 employees involved; however,.their hiring area is spread
throughout Lake and Cook Counties, and relatively few employees are
residents of Deerfield. Therefore, any economic dislocations involved will
be spread over a broad area, and direct impact on the Village of Deerfield,
will be minimal.
Recent realestate economic reports have indicated an overbuilding in..
office properties throughout the Chicago metro area; however, the same
reports have recently indicated that the offices in Deerfield have about an
85% occupancy rate. The Village considers this to be a very optimistic
1 sign that the commercial real estate in the Village is being well received
by the market.
The Northern Cook County and Southern.Lake County area has undergone a
rapid economic development. The major portion of this development.is..
centered on'the Lake Cook corridor. Recently completed were entrance and
exit ramps for -the Illinois.toll road at Lake Cook Road., This will provide.
' improved access to Lake Cook Road and reduce dependency on the crowded
'Deerfield Road. entrance. Unemployment in Lake County in August 1989 was
3.2% compared.with 5.81 in the state of Illinois and an estimated 1% in
Deerfield.
All of these factors indicate that Deerfield will continue to bea
financially vibrant community.
MAJOR INITIATIVES
For the Year. The Village has continued its storm and sanitary sewer
renovation project by continuing Phase III of its renovation project.
This phase was financed with a $3,000,000 bond issue sold in October 1988.
This renovation project was started in 1982. The Village has provided a
total capital funding of $14,000,000 for this project. Any additional
phase will be smaller and will depend on specific demand.
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compost at a Lake County site operated by the Lake County Forest Preserve
through a grant from the Illinois"Department:of Energy and Natural
Resources. Lake County is hopeful'that successful operation of this
facility will lead to implementation of the County's Solid Waste Management
Plan adopted in September of 1989.
FINANCIAL INFORMATION
Management of the Village is responsible for establishing and maintaining
an internal control structure designed to ensure that the assets of the
Village are protected from loss, theft or misuse and to ensure that
adequate accounting data are compiled to allow for the preparation of
financial statements in conformity with generally accepted accounting
principles. The internal control structure is designed to provide
reasonable, but not absolute, assurance that these objectives are met.
The concept of reasonable assurance recognizes that: (1) the cost of a
control should not exceed the benefits likely to be derived; and (2), the.
valuation of costs and benefits requires estimates and judgments by.
' management.
Budgeting Controls. In addition, the Village maintains budgetary
controls. The objective of these budgetary controls is to ensure
compliance with legal provisions embodied in the annual appropriated
budget approved by the Village's governing body. Activities of the
general fund, special revenue funds, debt service fund, internal service
fund, enterprise fund and pension trust funds are included in the annual
appropriate budget. Project -length financial plans are adopted for the
capital projects funds. The level of budgetary control (that is, the level
at which expenditures cannot legally exceed the appropriated amount) is
established at the fund level. The Village also maintains an encumbrance
accounting system as one technique of accomplishing budgetary control.
Encumbered amounts lapse at year end. However, encumbrances generally are
reappropriated as part of the following year's budget.
As demonstrated by the statements and schedules included in the financial
section of this report, the Village continues to meet its responsibility
for sound financial management.
General Government Functions. The following schedule presents a summary of
general fund, special revenue funds, and debt service funds revenues for
the fiscal year ended April 30, 1990, and the amount and percentage of
increases and decreases in relation to prior year revenues.
Increase Percent
Percent (Decrease) of Increase
Revenues Amount of Total from 88/89 (Decrease)
Taxes 6,596,043 69.0 639,390 10.7
Licenses and Permits 521,286 5.4 (225,167) -3.8
Intergovernmental 360,970 3.8 29,153 .5
Charges for Services 328,625 3.4 110,463 1.9
Fines 254,610 2.7 47,708 .8
Interest 597,971 6.3 135,395 2.3
Miscellaneous 909,107 9.5 658,916 11.0
Total 9,568,612 100.0 1,395,858 23.4
I vii
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The Village has continued its.operations in the Central Business.District
Tax Incremental Financing District. For the year, the Village.has had
expenditures totalling $1,159,750 including $310,000 for the aquisition of
property, and the remainder for the,completion of the Marathon parking lot,
and Stage 1 and Stage 2 of the Streetscape design.
For the Future �.
In October 1986, the.Village of Deerfield developed a plan to upgrade the
overall quality and economic vitality of its Village Center (downtown).
Located in the geographic center of the community, this six -block area
exhibits many of the typical problems common to aging commercial districts
throughout. the country. Diverse ownership of inadequately sized and
ill-arranged.parcels has resulted in incompatible development, causing
both visual and functional problems.
After approving a redevelopment plan, the Village began acquiring key
parcels of property, budgeted for public.improvements essential to the
area, and -developed a Streetscape Program for the two major streets which
intersect within the Village Center.
Experience has clearly shown that economic revitalization generally occurs
in areas where there is -a joint venture effort between the public and
private sectors. Deerfield, in recognizing the importance of that
philosophy, has begun a redevelopment program that commits substantial
public funds to "its Village Center. As might be expected, preference
must be given to acquisition of property and basic capital improvements
which will promote private investment in the area. At the same time,
better pedestrianaccess and improvement of the general appearance of a
downtown contribute significantly to its economic well-being.
The Deerfield Police Department is currently in the process of implementing
an enhanced 9-171 system. This system will allow public access to police,
fire and emergency medical services by dialing 9-1-1 ra.ther.than the
current 7 digit phone number. The caller's phone number and address will
automatically appear on a computer screen in the dispatch center with each
call.
Recycling/Scavenger Service.
In response to growing environmental awareness and concern for decreasing
landfill capacity, Deerfield initiated the weekly collection of recyclable
newspapers, glass and cans from residences within the Village in September
1989. This service, combined with the 24-hour drop-off center operating
since 1980, has diverted nearly 20% from the monthly landfilled waste.
stream. The curbside program, as well as other scavenger services, is
administered.through a negotiated contract with Laidlaw Waste Systems.
extended through December 31, 1991.
The Public Works Department is currently making final preparations for the
weekly collection of leaves from residential areas.. of the Village.
Previously gathered only once each fall, the weekly pick-up during November
is an increase in service due to the state ban on.landfilling yard wastes
and resident requests for additional service. Leaves are recycled into
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Taxes. The general heading of taxes encompasses several different types of
taxes, the largest of which is the property tax. Property tax makes up 49%
of taxes, or $3,214,534. This is an increase of $405,000 over the prior
year, or an increase 14.4%. Of that, $390,000 is for debt service,
primarily from the 1988 bond issue, which was used to fund the continuing
implementation of the Village sanitary sewer programs.
Another substantial portion of the category is sales tax. This is a 1% tax
on the exchange of tangible personal property. This tax is collected by
the state of Illinois and remitted to the Village. For the year ending
April 30, 1990, this was $2,012,188 or 31% of the total taxes. This is an
increase over the previous year of approximately $34,000 or 1.7%. It is
the Village's belief that returns would have been"significantly larger, but
sales tax was by impacted by the loss of a major retailer, and a subsequent
vacancy.
Another significant revenue item is the hotel tax. This is a 5% tax on
the occupation of rooms. This is a relatively new tax for the Village.
The Village had no hotel rooms in 1985, but now has an excess of 1000.
This tax brought in $675,000 which is 10% of the total in the category of
taxes. This is a 20% increase over the previous year. It is the Village's
belief that this tax will continue to increase at a rate to exceed the cost
of living.
Licenses and Permits. Building permits have decreased .to $93,818, a
reduction of $266,625. This is due to a reduction in building activity in
the Village.
Miscellaneous. The increase in Miscellaneous Revenue is due to the Gain on
Sale of Village property at $589,821.
The following schedule presents a summary of general fund, special revenue
funds, and debt service funds expenditures for the fiscal year ended April
30, 1990, and the percentage of increases and decreases in relation to
prior year amounts.
Expenditures
Current
General Government
Public Safety
Highways and Streets
Culture and Recreation
.Miscellaneous
Debt Service
Principal
Interest
Total
General Government.
due to a reduction in
renovation took place
Increase
Percent
Percent
(Decrease)
of Increase
Amount
of Total
from 1989
(Decrease).
1,377,270
16.2
-7,262
-.5
2,752,370
32.3
386,698
27.9
1,188,257
14.0
165,750
12.0
917,982
10.8
35,109
2.5
516,484
6.1
80,135
5.8
700,000
8.2
100,000
7.2
1,060,310
12.5
191,347
13.8
8,512,673
100.0
951,777
12.6
The decreased expenditure.in General Government is.
expenses for Village Hall remodelling. The major
in 1988-89 at a cost of $136,270.
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Police increases were due to general increases.in salaries and.
expenditures, including an expansion of five sworn officers.
General Fund Balance. The.undesignated fund balance has decreased to
$352,460 from $2,269,712. The reason for this reduction in balance is
the Village's intent to fund a large portion of the downtown TIF by
advances from the General Fund. At this point, the Village has advanced
$820,000 and has an additional $3,500,000 designated for this project. The
Village's undesignated fund balance of $1,917,252 is the equivalent of 124
working days of expenditures.
Enterprise Operations. The Village's enterprise operations are comprised
of four separate and distinct activities: the Water Fund and Sewerage
Funds, the Refuse Fund, and the Commuter Parking Lot Fund.
The $144,000 or 14.2% increase in sewerage fund operating fund expenses was
largely due to an increase in the cost of operating the waste water
.reclamation facility, primarily $50,000 for utility service and $60,000 for
plant maintenance and repair. The other significant increase in the
Enterprise Operations was in the refuse fund. The increase of $200,.000 or
19% is due to the commencement of the recycling operation.
Pension Trust Fund Operations. The operations of the Village of Deerfield
Police Pension Fund (PERS) remained relatively stable in 1990. For the
year ending April 30, 1990, the pension benefit obligation increased to
123%, from 118% the prior year. While this standardized actuarial method
differs from the Illinois Department of Insurance funding requirement, it
does demonstrate actuarial stability in the police pension fund.
Debt Administration. At April 30, 1990, the Village had a number of debt
issues outstanding. These issues included $13,262,076 of net general
obligation bonded debt and no revenue bonds. This total excludes a fully
defeased $10,000,000 debt issue. .The Village issued no debt during the
fiscal year ended 4/30/90.. The Village has maintained its AA from.Moody's
Investors Service on general obligation bond issues. .The Village of
Deerfield is a home rule municipality and as such has no debt limitations.
If, however, the Village were a non -home.. rule village its available debt
limit would be as follows:
Assessed Valuation - 1989 375,899,309
Legal Debt Limit 8.625 32,421,315
' Legal Debt Margin 19,159,236
Cash Management. Cash temporarily idle during the year was invested in
demand deposits, certificates of deposit, obligations of the U.S.
Treasury_, and commercial paper. The pension's trust -funds investment
portfolio also includes insurance company separate accounts and a
guaranteed investment contract. The average yield on investments, except
for the Trust and Agency fund group, was 8.65%. The pension trust fund
achieved a yield rate of 10.48% on cash and investments exclusive of
separate accounts which are similar to mutual funds accounts and therefore
ix
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carried at the lower of cost or market until sold. The separate accounts
as reported by the management have a market value of $630,469 and a book
value.of $470,000. The higher rate of return on pension fund investments
is attributable to the long-term nature of most holdings in its portfolio.
The Village's investment performance ranks favorably when compared to
average yieldrates of 8.09y.for 90 day U.S. Treasury bills and 8.35% for
10 year U.S. Treasury notes. The Village earned interest revenue of
$1,603,199 on all investments except the Trust and Agency fund group and
$562,558 in the Police Pension Fund.
The Village's investment policy is to minimize credit and market risks
while maintaining a competitive yield on its portfolio. The Village only
utilizes, banksand savings institutions which have a Shoshunoff rating.of.
,
"B" or better. The Village believes that the criteria allow the Village to
obtain competitive quotes on certificates of deposit without the need for
costly collateral. Village deposits which are uninsured and
uncollateralized total.$1,037,602 or 4.3% ofcash and investment. The
Village's investments total $34,99.0,639. Of.these, $24,345,092 are
Category 1. Category 1 includes investments that are insured,or registered
or for which the securities are held by the government or its agent in the
government's name. An additional $8,889,571 is invested in the Illinois
Public Treasury Pool, $1,035,976 is in a deferred compensation plan asset
account, and the remaining $720,000 is in life insurance company contracts.
Risk Management.., 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 losses, third party liability claims,.Workers' Compensation
claims, and Public Officials Liability claims of its member
municipalities. The Village's payments, to MICA are displayed on.the
financial statements as expenditures/expenses in the appropriate funds.
The Village also participates in.the High -Level Excess Liability Pool
Illinois to provide excess liability coverage ($5,000,000 of coverage
after a $1,000,000 self-insurance retention). The Village's payments to
HELP are displayed on the financial statements as expenditures/expenses in
appropriate funds.
OTHER INFORMATION
Independent Audit. State statutes require an annual audit by independent.
certified public accountants. The accounting.firm of Karrison, Byrne,.
Jansey and Trimarco, Ltd. CPA's was selected by the Village's audit
�.
committee. The auditor's report on the general purpose financial.
statements and combining and individual fund statements and schedules is
included in the financial section of this report.
,
Awards., The Government Finance Officers Association (GFOA).awarded a
Certificate of Achievement for Excellence in Financial Reporting to the
Village for its comprehensive annual financial report for the fiscal year
ended April 30, 1989. The was the sixth consecutive year that the
Village has received this prestigious award. In order to be awarded a
Certificate of Achievement, the Village published an easily readable and
efficiently organized comprehensive annual financial report. This report
satisfied both generally accepted accounting principles and applicable
legal requirements.
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A Certificate of Achievement is..valid.for,a perl.od of one year only. We
believe that our current comprehensive annual financial report continues
to meet the Certificate of Achievement Program's.requirements, and we are
submitting it to the GFOA to determine its eligibility for another
certificate.
iAcknowledgments. The preparation of the Comprehensive Annual Financial
Report on a timely basis was made possible by the dedicated service of the
entire staff of the finance department. Each member of the department has
our sincere appreciation for the contributions made in the preparation of
this report.
In closing, without the leadership and support of the Village Board,
preparation of this report would not have been possible.
Respectfully submitted,
'FinancelDirector
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�s®iC11y
�y �7 750 EAST DIEHL ROAD o NAPERVILLE, ILLINOIS 60563
Ltdo (708) 505-1900 FAX: (708) 505-1908
CERTIFIED PUBLIC ACCOUNTANTS "
r
INDEPENDENT AUDITOR'S REPORT
r
The Honorable Mayor
Members..of.the Board..of Trustees
Village of Deerfield, Illinois
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We have audited the general purpose financial, statements, and the combining,..
individual fund, and account group financial statements of the Village of
Deerfield,.Illinois, as of and for.the year ended April 30, 1990, as listed in
the accompanying table of contents.- These financial statements .are the
responsibility of. the Village of Deerfield, Illinois' management., Our
responsibility is,to express an opinion.on these financial statements;based on
our audit.
We conducted our audit in accordance with generally accepted auditing standards.
Those standards require that we plan and perform the audit to obtain reasonable
assurance about whether the financial statements arel free of material misstate-
ment. An 'audit includes examining, on a test basis; evidence supporting the
amounts and disclosures in the financial statements. An audit also.includes
assessing the accounting principles. used and significant. estimates 'made by
management,. as well as evaluatingthe overall financial statement. presentation..
.We.believe.that our audit provides�a reasonable.basis for our opinion. -
In our opinion, the general purpose financialstatements` referred'; to above,
present fairly,.in all material respects, the_financial position o,f.the Village
of Deerfield; Illinois, as of April 36, 1990, and the results of its,operations
and the changes. in financial position of its proprietary.and similar trust fund ..
types -for the year then ended in conformity with generally accepted;,accounting
principles. Also, in our opinion, the combining, -individual fund, and account
group .financial statements referred to .above present fairly, in all material
respects, the financial position. of each of the individual funds and account
groups of "the Village of Deerfield, Illinois, as of April 30, 1990, and the
results of operations of such funds and the changes in financial position.,of.
individual proprietary and similar trust funds for the year then ended 'in
conformity with generally accepted -accounting principles.
Our audit was made for the purpose of forming an opinion'on the general purpose
financial statements and on the combining, individual fund, and account group
financial statements taken as a whole. The accompanying financial information
listed as supplemental and schedules in the accompanying table of contents is
presented for purposes of additional analysis and is. not a required part of the
general purpose financial statements of the Village of Deerfield, Illinois. Such
information has, been subjected to the auditing procedures applied in the
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audit of the general purpose, combining,. individual fund, and account. group
financial statements and, in our opinion, is fairly stated in all material
respects in relation to the general purpose financial statements and each of the
combining, individual fund, and account group financial statements taken as a
whole.
The statistical information listed in the table of contents was not audited by
us and, accordingly, we do not express an opinion thereon.
August 15, 1990
2
d1/ihoo 0
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AUDITOR'S. OPINION
VILLAGE OF DEERFIELD, ILLINOIS
ALL FUND TYPES AND ACCOUNT GROUPS
COMBINED BALANCE SHEET
APRIL 30, 1990
(See Following Page)
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VILLAGE OF DEERFIELD, ILLINOIS
ALL PROPRIETARY AND FIDUCIARY (PENSION TRUST) FUND TYPES
COMBINED STATEMENT.OF REVENUES, EXPENSES,
AND CHANGES IN RETAINED EARNINGS - UNRESERVED/FUND BALANCE
FOR THE YEAR ENDED APRIL 30, 1990
Proprietary.
Fiduciary
Fund Types
Fund Tyne
Totals
Internal
Pension
(Memorandum Only)
Enterprise
Service
Trust
1990
1989
Operating Revenues
Taxes
160,461
160,461
155,430
Charges for Services
$4,049,648.
176,262
4,225,910
4,174,799
Contributions
127,777
127,777
83,619
Interest
562,558
562,558
488,746
Miscellaneous
91,416
91,416
136,388
Total Operating Revenues
4,141,064
176,262
850,796
5,168,122
5,038,982
Operating Expenses
Administration
350,152
350,152
361,473
Operations
4,006,035
197,726
4,203,761
3,859;799
Depreciation
376,057
376,057
378,631
Benefits and Refunds.
117,720
117,720
88,660
Miscellaneous
568
568
1,620
Total Operating Expenses
4,732,244
197,726
118,288•
5,048,258
4,690,183
Operating Income (Loss)
(591,180)
(21,464)
732,508
119,864
348:799
Nonoperating Revenues.(Expenses)
Interest Income
200,464
200,464
189,685
Property Taxes
621,687
621,687
541,018
Interest Expense
(1,913)
822,151
822,151
728,790
Net Income (Loss) before
Operating Transfers
230,971
(21,464)
732,508
942,015
11077,589
Operating Transfers (Out)
(103,000)
-
-
(103,000)
(91,500)
Net Income (Loss)
127,971
(21,464)
732,508
839,015
986,089
Other Changes in Retained Earnings -
Unreserved/Fund Balance
Depreciation that Reduces Contributed Capital 191;764
191,764
194,373
Transfer from Restricted Accounts
88.708
88,708
280,472
280,472
194,373
Net Increase (Decrease) in Retained Earnings/
Fund Balance
408,443
(21,464)
732,508
1,119,487
1,180,462
Retained Earnings - Unreserved/
Fund Balance
May 1
4,582,216
(45,056)
5,692,555
10,229,715
9,049,253
Prior Period Adjustment
150,000
-
150,000
-
Adjusted Balance
4,732,216
(45,056)
5,692,555
.10,379,715
9,049,253
April 30
55,1
6( 6,520)
6,425,063
11,499,202
10,229,715
See accompanying Notes to the Financial Statements.
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VILLAGE.OF'DEERFIELD, ILLINOIS
,
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1990
a
Summary of Significant Accounting Policies
The financial statements of the Village -of Deerfield, Illinois (government),
have been prepared in conformity .with generally accepted' accounting
,
principles (GAAP). as applied to government units. The Governmental
Accounting Standards Board (GASB) is the accepted standard -setting body for
establishing governmental; accounting .and. financial reporting principles.
'.
The more significant of the. -government accounting policies are described.
below.
1
A. Reporting Entity
In evaluating how.: to define the government, for financial reporting.
purposes, management has considered all potential component units. The
'
decision to include a potential.component.unit.in the reporting entity
was made by applying the criteria set forth in GAAP. The basic --but not
the only --criterion for including a potential component.unit within the
'
reporting entity is the..governing..body's ability,to exercise oversight
responsibility. The most significant manifestation of this ability is
financial interdependency. Other. manifestations. of the ability., to
'
exercise oversight responsibility include, but are not limited to, the
selection of governing authority, -the designation of management, the
ability to significantly influence operations, and accountability .for,.
fiscal. matters. A second criterion used in evaluating potential....
'
component units ,is the scope of Public, service. Application of this
criterion involves considering whether the activity is conducted within
the geographic.boundaries of the government and is generally available
'
to its citizens.. A third criterion used to evaluate potential. component
units for .inclusion or exclusion from the reporting entity is the
existence of special financing relationships, -regardless of whether the
government.is able to exercise oversight responsibilities. Based upon.
'
the application of these criteria, the following is.a brief review of
each potential component.0 nit addressed in defining .the government's
reporting -entity.
'
Included within the Reporting Entity:
Police Pension Employees Retirement System
The government's police employees participate in the Police Pension '
Employees Retirement System (PPERS). PPERS functions for the benefit of
these employees and is governed by a five -member pension board. Two
members appointed by the government's. Mayor, one elected* pension
beneficiary, and two elected police employees constitute the pension '
board. the government and PPERS participants are obligated to fund all
PPERS costs based upon actuarial valuations. The state of Illinois
is authorized to establish benefit levels and the government is '
8
n
11
I
I
GENERAL PURPOSE FINANCIAL STATEMENTS
1
1 VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
' APRIL 30, 1990
1. Summary of Significant Accounting Policies (Cont.)
' A. Reporting Entity (Cont.)
Included within the Reporting Entity (Cont.):
' authorized to approve the actuarial assumptions used in the
determination of contribution levels.
' Excluded from the Reporting Entity:
West Deerfield Township
Highland Park Mosquito Abatement District
Deerfield Park District
Deerfield Bannockburn Fire Protection District
These potential component units have separate elected boards and provide
services to residents, generally within the geographic boundaries of the
government. These potential component units are excluded from the
' reporting entity because the government does not have the ability to
exercise influence over their daily operations, approve budgets or
provide funding.
Municipal Insurance Cooperative Agency (MICA)
' MICA is an agency established to administer general liability.+,insurance
programs for local governments. Management consists of a., Board of
Directors comprised of an appointed representative from each member.
The government does not exercise any control over the activities of the
Agency beyond its representation on the Board of Directors. MICA is
reported as a governmental joint venture.
' High -Level Excess Liability Pool(HELP)
HELP is a proprietary venture established for the purpose of seeking the
prevention or lessening of liability claims made against its member
municipalities. Management consists of a Board of Directors comprised
of one appointed representative from each member. The government does
not exercise any control over the activities of the Agency beyond its
representation on the Board of Directors. HELP is reported as a
proprietary joint venture.
' B. Fund Accounting
The government uses funds and account groups to report on its financial
position and the results of its operations. Fund accounting is designed
9
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30; 1990
1. Summary of Significant Accounting Policies (Cont.)
,B. Fund Accounting (Cont.)
1
to demonstrate legal compliance and to aid financial managementi by
segregating transactions` relatedto certain government functions or,
activities.
'
A fund is a separate accounting entity, with a self -balancing set of
accounts. An account group, on the..other hand', is a financial reporting
device designedto_ provide accountability for certain assets-, and
liabilities that are not recorded in: the funds because they do' not
directly affect.net expendable available financial resources.
Funds' are classified into the following categories: governmental,
proprietary, and fiduciary.. Each category, in turn, is divided .into
separate "fund types".
'
Governmental funds are used to. account for all or most of a government's
general.activities, including the collection and disbursement of :ear-
marked.monies (special revenue funds), the acquisition or construction
of general fixed assets.(capital projects funds), and the servicing of
general long-term debt (debt service funds). The general fund is used
to account for all activities.of the general government not accounted
'
for in some other fund..
Proprietary funds are used to account for activities..similar to those
'
found in the .private sector, where -the determination of net income is..
necessary. or useful to- sound financial administration.. Goods or
services from such activities can be provided either to outside parties.
(enterprise funds) or -to other departments,or agencies primarily within
'
the government (internal service funds).
Fiduciary funds are used to account for assets held on behalf of outside
'
parties, including other governments,. or on behalf of other funds within
the government. When these assets are held under the terms of a formal
trust agreement, either.a pension trust fund, or an expendable trust
'
fund is used. The term "expendable" refers to whether or not the
government is under an obligation to maintain the trust principal.
Agency funds generally are used to account for assets that the
government holds.on behalf of others as their agent.
'
C. Basis of Accounting
The accounting and financial reporting treatment applied to a fund is
determined by its measurement focus. All governmental funds and
10
' VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30,1990
Summary of Significant Accounting Policies (Cont.)
C. Basis of Accounting (Cont.)
' expendable trust funds are accounted for using a current financial
resources measurement focus.. With this measurement focus, only current
assets and current liabilities generally are included on.the.balance
sheet. Operating statements of these funds present increases (i.e.,
revenues and other financing sources) and decreases (i.e., expenditures
and other financing uses) in net current assets..
' All proprietary funds and pension trust funds are accounted for on a
flow of economic resources measurement focus. With this measurement
' focus, all assets and all.liabilities associated with the operation of
these funds are included on the balance sheet. Fund equity (i.e., net
total assets) is segregated into contributed capital and retained
earnings components. Proprietary fund -type operating statements present
increases (e.g., revenues) and decreases (e.g., expenses) in net total
assets.
The modified accrual basis of accounting is used by all. governmental
fund types, expendable trust funds, and agency funds. Under 'the
modified accrual basis of accounting, revenues are recognized when
susceptible to accrual (i.e., when they become both measurable and
Available). "Measurable" means the amount of the transaction can be
determined and "available" means collectible within the current period.
The government recognizes property taxes when they become both
' measurable and available in accordance with GASB Codification Section
P70. A one-year availability period is used for revenue recognition for
all other governmental fund revenues. Expenditures are recorded when
' the related fund liability is incurred. Principal and interest on
general long-term debt are recorded as fund liabilities when due or when
amounts have been accumulated in the debt service fund for payments to
be made early in the following year.
Those revenues susceptible to accrual are property taxes, franchise
taxes, licenses, interest revenue, and charges for services. Sales and
income taxes collected and held by the state at year end on behalf of
the government also are recognized as revenue. Fines and permits
revenues are not susceptible to accrual because generally they are not
measurable until received in cash.
The accrual basis of accounting is utilized by proprietary fund types,
' pension trust funds, and nonexpendable trust funds. Under this method,
revenues are recorded when earned and expenses are recorded at the time
liabilities are incurred.
11
1.
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30,.1990
Summary of Significant Accounting Policies (Cont.)
C. Basis of•Accounting (Cont.)
The government reports deferred revenue on its combined balance sheet.
Deferred revenues arise when a potential revenue does not meet both the
"measurable" and "available" criteria. for. recognition in the current
period. Deferred revenues also arise when resources are received by. the
government before it has a legal claim to them, as when grant monies are
received prior to the :incurrence of qualifying expenditures. . In
subsequent periods, when both revenue recognition criteria.are met, or
when the government has a legal claim to theresources, the liability
for deferred revenue is removed from the combined balance sheet - and
revenue is.recognized.
D. Budgets
Budgets are adopted on a basis consistent with generally accepted
accounting principles. Annual appropriated budgets are adopted for all
of the General,. Special Revenue, Debt Service, Enterprise, Internal
Service, and Pension Trust Funds. All annual appropriations lapse at
fiscal yearend.
Encumbrances represent commitments related to unperformed contracts for
goods or services. Encumbrance accounting --under which purchase orders,
contracts and other commitments. for, the expenditure of resources are
recorded to reserve that portion of the applicable appropriation -is
utilized in the governmental funds. Material encumbrances outstanding
at year end, if any, are reported`as reservations of fund balances 'and
do not constitute expenditures or liabilities because the commitments
will be honored during the subsequent year.
E. Investments
Investments.are stated at cost or amortized cost, subject to adjustment
for market declines judged to be other than temporary (lower of cost or
market), except for investments in the deferred compensation agency fund
which are reported at market value.
F. Short-term Interfund Receivables/Payables
During the course of operations, numerous transactions occur between
individual funds for goods provided or services rendered. These receiv-
ables and payables are classified as "due from other funds" or "due to
other funds" on the balance sheet.. Short-term interfund loans, if any,
are classified as "interfund receivables/payables".
12
I
VILLAGE OF DEERFIELD, ILLINOIS-
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1990
1. Summary of Significant Accounting Policies (Cont.)
G. Inventories
inventories are valued. at cost, which approximates. market, using the
first-in/first-out (FIFO) method.
H. Fixed Assets
General fixed assets are not.capitalized in the funds used to acquire or
construct them. Instead, capital acquisition' and construction are
reflected as expenditures in governmental funds, and the related assets
are reported in the general fixed assets account group. All purchased
fixed assets are valued-at,cost.where historical records are available
and at an estimated historical cost where no historical records exist.
.Donated fixed assets are valued at their estimated fair market value on
the date received.
The costs of normal maintenance and repairs that do not add to the value
of the asset or materially extendassetlives are not capitalized.
Improvements are capitalized and depreciated over the remaining useful
lives of the related fixed assets, as applicable.
Depreciation on fixed assets acquired through. intergovernmental grants,
entitlements, or shared revenues externally restricted to capital acqui-
sitions is closed to contributed capital.
Public domain ("infrastructure") general fixed assets consisting of
roads, bridges, curbs and gutters-, streets. and sidewalks,,. drainage
systems and lighting systemsare not capitalized-, as these.- assets are
immovable and of value only to the government.
Assets in the general fixed assets account group.are not depreciated.
Depreciation of buildings, equipment, water/sewer systems and vehicles
'. in the proprietary fund types is computed using the straight-line
method.
I. Compensated Absences
Vested or accumulated vacation leave that is expected to be liquidated
with expendable available financial resources is reported as an expendi-
ture and a fund liability of the governmental. fund that will pay it.
Amounts of vested or accumulated vacation leave that are not expected to
be liquidated with expendable available financial resources are reported
in the general long-term debt account group. Vested or accumulated
vacation leave of proprietary funds is recorded as an expense and
liability of those funds as the benefits accrue to employees.
13
VILLAGE OF DEERFIELD, ILLINOIS
'
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1990
1. Summary of Significant Accounting Policies (Cont.)
.'
J.
Long=Term Obligations
Long-term debt is recognized.as a liability of a governmentalfund when
,
due, or when.resources have been "accumulated in the debt service fund
for payment early in the . following: year.. For other long-term,obli-
gations, only that portion expected to be. financed from expendable
available financial resources is ,reported as a fund liability of a,
-
governmental fund. The remaining portion of such obligations is report-
ed in the general long-term debt account group. Long-term liabilities
expected to be financed from proprietary fund operations are accounted
for in those funds.
K..
Fund Equity
1
Contributed capital is recorded in proprietary funds that have received
capital grantsor contributions from developers, customers, or ;other
'
funds. Reserves represent those portions -of fund equity not appropri-
able for expenditure or legally segregated for a specific future use.
Retained Earnings - Reserved.- Restricted Accounts represents amounts
'
required to be segregated by bond ordinance provisions. Designated fund
balances represent tentative.., -plans, for future use of financial.
resources.
1
L.
Interfund Transactions.
Quasi -external trans actions.are accounted for as revenues, expenditures,
or expenses. Transactions that `constitute :reimbursements to -,.a fund for..
expenditures/expenses initially made from it that are properly applic-
;.
e
able to another fund; are recorded as., expenditures/expenses in the
reimbursing fund and as reductions of expenditures/expenses in the fund
that is.reimbursed.
All other interfund transactions, except quasi -external transactions and
,
reimbursements, are reported as transfers. Nonrecurring or,nonroutine
permanent transfers of equity are reported as residual equity transfers. -
All other interfund transfers are reported as operating transfers..
'
M.
Memorandum Only - Total Columns
Total columns on the general purpose financial statements are captioned
'
"memorandum only" to indicate that they are presented only to facilitate
financial analysis.. Data in these- columns do not present financial
position, results of operations, or, changes in financial position in
'
conformity with generally accepted accounting principles. Neither are.
such data comparable to a consolidation. Interfund'eliminations have
not been made in the aggregation of this data.
'
14
' VILLAGE..OF-DEERFIELD, ILLINOIS -
NOTES TO THE FINANCIAL STATEMENTS
' APRIL 30,. 1990
1 1. Summary of Significant Accounting Policies (Cont.).
' N. Comparative Data
Comparative total data for the prior year have been presented in the
accompanying financial statements in order to provide an understanding
' of' changes in the government's financial position and .operations.
However, comparative data have not been presented.in all statements
because their inclusion would make certain statements unduly complex and
' difficult to understand.
2. Legal Compliance and Accountability
A. Budgets
All departments of the government submit requests for appropriation to
'
the government's manager so that a budget may be prepared. The budget
is prepared by fund, function, and activity, and includes information on
the past year, current year estimates, and requested appropriations for
the next fiscal year.
The proposed budget is presented to the governing body for review. The
governing body holds public hearings and may add to, subtract from, or
'
change appropriations., but may not change the form of the budget.
Any amendments to the budget must be approved by the governing body.
'
Expenditures may not legally exceed budgeted appropriations at. the fund
level. During the year no supplementary appropriations were necessary.
B. Deficit Fund Balances/Retained Earnings of Individual Funds
The following funds had a deficit in fund balance/retained earnings as
of the date of this report:
Deficit
Fund Balance
'
Illinois Municipal Retirement Fund $ 157,790
Tax Incremental Finance District 2 Fund 1,099,855
Capital Improvements Series B Fund 428,389
'
Garage Fund $ 66 520
1
n
15
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1990
2. Legal Compliance and Accountability (Cont.)
C. Excess of Actual Expenditures/Expenses over Budget in Individual. Funds
The following funds had an excess of actual expenditures/expenses
(exclusive of depreciation and amortization) over budget for the fiscal
year:
Fund
Street and Bridge Fund
Illinois Municipal Retirement Fund
Refuse Fund
Garage Fund
3. Deposits and Investments
Excess
$ 3,963
5,740
78,550
$20,206
Permitted Deposits and Investments - Statutes authorize .the government to
make deposits/invest in commercial banks, savings and loan institutions,,
obligations of the U.S.. Treasury and U.S. Agencies, obligations of States,
and- their political subdivisions,credit union shares, repurchase agree-
ments, commercial paper rated within the three highest classifications by at
least two standard rating services, and the Illinois Public Treasurer's
Investment Pool. Pension funds may: also invest in certain non-U.S.
obligations, mortgages, veteran's loans, and life insurance company
contracts..
16
1
1
J
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
VILLAGE OF. DEERFIELD.;.ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1990
3. Deposits and Investments (Cont.)
A. Deposits
At year-end the carrying amount of the government's deposits totaled
$1,122,880,.and the bank balances totaled $1.,4.05,830.
Bank
Balances
Category 1
Deposits covered.by federal depository
insurance, or by collateral held by
the government, or its agent, in the
government's name.
$ 368,228
Category 2
Deposits covered by collateral held by
the pledging financial. institution's
trust department, or by its agent,. in
the government's name.
Category 3
Deposits covered by collateral held by
the pledging financial institution, or
its trust department, or its agent but
not in the government's name, and de-
posits which are uninsured and uncol-
lateralized.
1,037,602
Total Deposits
$1,405,830
Deposits classified as Category 3 are entirely
composed of deposits
which are uninsured and uncollateralized..
For pension trust funds there are no deposits classified as Category 3.
17
VILLAGE OF DEERFIELD, ILLINOIS
NOTES.TO THR-FINANCIAL STATEMENTS
APRIL 30, 1990
3. Deposits and Investments (Cont.)
B. Investments
The government'sinvestments are categorized to give an indication. of the S
level of risk assumed. by the entity at year-end. Category 1 includes
investments. that are insured or registered or for which the securities are
held .by the government or its agent in the government's name. , Category 2
includes uninsured and unregistered investments for .which the securities are
held.by the counterparty's trust department or agent in the government's'
name. Category 3 includes' uninsured and unregistered investments for which
the securities are held by .the broker or dealer, or by its trust department or
agent but not in" the government's name, and uninsured, unregistered and
uncollateralized investments. '
Carrying Amount
Category Market
1 2 3 Totals Value
U.S. Government
Securities .$10,711,265 10,711,265 12,576,,655,'
Life Insurance Co.
Contract
470,000
470,000
630,469
GNMA 1,604,556
1,604,556
1,604,556
Dade County Florida
Aviation Reserve
Bonds 10,000,000
10,000,000
109,728,280.
Guaranteed Investment
Contract
250,000
250,000
250,961
Commercial Paper 2,029,271
2,029,271
2,029,536.i
824,345,092 -
72®
25,065,092
27,820,457
* Deferred Compensation Plan Assets
1,035,976
1,035,976
* Illinois Public Treasurer's Investment
Pool
8,889.571
8.889.571,,
Total Investments
34,990,639
37.746,004
* (Not Subject to Risk Categorization)
18
�J
1,
1
1
VILLAGE:.OF.DEERFIELD, ILL•INOIS,
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30; 1990
3... Deposits and Investments (Cont.)
B. Investments (Cont.)
The pension trust fund owns approximately 21 percent of the investments
in Category 1 and 100 percent of the investments in Category 3.
4. Receivables Taxes
Property taxes for 1989 attach as an enforceable lien on January 1;..1989, on
property values assessed as of the same date. Taxes are levied by;December
of the subsequent fiscal year .(by passage of a Tax Levy. Ordinance). Tax
bills are prepared by the County and issued on or about.April 30, 1990, and
are payable in two installments, on or about June 1, 1990,' and September 1,
1990. The County collects such taxes and remits them periodically.
5. Fixed Assets
A. General Fixed Assets Account Group
The government has restated the beginning asset balances in the General
Fixed Assets Account Group to reflect land previously purchased by the
government but not included in the Account Group.
As Reported
Charges due to
As Restated
April 30, 1989
Restatement
April 30, 1989
Land
$2,609,522
1,000,000
3,609.,522
Building.and
Improvements
1,314,850
1,314,850
Vehicles
521,237
521,.237
Equipment
1,372,251
1_-,372,251
�5,8178601,000,000
6,817,860
The following is a summary of changes in the general fixed. assets
account group during the fiscal year:
Balances
Balances
May 1
Additions
Retirements
April 30
Land
$3,609,522
310,081
1,000,000
21919,603
Building and
Improvements
1,314,850
3,562,608
72,000
4,804,858
Vehicles
521,237
271,510
134,897
657,850
Equipment
1,372,251
120,529
21,583
1,471,197
$6,817,860
4,26
1,228,480
9,8 8
19
.
'
VILLAGE OF DEERFIELD,
ILLINOIS
NOTES TO THE FINANCIAL
STATEMENTS
APRIL 30, 1990
5. Fixed Assets (Cont.)
'
B. Proprietary Fixed Assets
The followingis a summary of proprietary,
fund -type fixed assets as of
the date of this.report:
Enterprise
Funds
Land
$ 77,500
Systems
11,358;625
Equipment and Vehicles
623,163
Parking Lot
613,958
12,673,246
Less Accumulated.Depreciation
3,440,352
9,232,894
In proprietary funds, the following estimated
useful.lives are used to
compute depreciation:
Buildings
40-50 years
.
Machinery and Equipment
10-20 years
Vehicles
4-5 years
Water/Sewer System
50-60 years
C. Construction Contracts
The government has entered. into contracts for
the construction or
renovation of various facilities as follows:
Required
Project
Expended
Further.'
Authorization
To Date
Commitment Financine
Warwick Road Pumping
Station $1,561,764
1,333,558
215,442 -
Access Avenue 3 353,400
353,400
- -
Brickyard Park
Development 32,500
32,500
- -
'
Brickyard Park
Grading $ 14,100
14,100
- -
20
VILLAGE -OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1990
5. Fixed Assets (Cont.)
C. Construction Contracts (Cont.)
Required
Project Expended Further
Authorization To Date Commitment Financing
Commuter Parking Lot $ 111,897 111,897 -
Pedestrian Bridge
Improvements 187,160 - 187,160 -
' 1989 Street Rehab-
ilitation 70,938 70,938 - -
Pfingsten/Kates Road -
Extension 816,009 816,009 -
Phase 2B Sanitary
Sewer $3,496,464 3,399,253 97,211 -
' 6. Risk Management
A. The government has purchased medical insurance from private insurance
' companies. Premiums have been displayed as expenditures/expenses in
appropriate funds.
' B. Municipal Insurance Cooperative Agency (MICA)
The government participates in the Municipal Insurance Cooperative
Agency. MICA is a governmental joint venture whose.members are Illinois
municipalities. MICA manages and funds first party property losses,
third party liability claims. workers' compensation claims, and public
officials liability claims of its members. The government's, payments to
' MICA are displayed on the financial statements as expenditures/expenses
in appropriate funds.
C. High -Level Excess Liability Pool (HELP)
The government participates in the High -Level Excess Liability Pool
' (HELP). HELP is a joint venture established by certain municipalities
in Illinois to provide excess liability coverage ($5,000,000 of coverage
after a $1,000,000 self-insurance retention). The government's payments
to HELP are displayed on . the financial statements as
' expenditures/expenses in appropriate funds.
21
7
8
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1990
Lease Obligations
No material capital or operating leases were in effect as of the date
of this
report.
Long -Term Debt
A. General Obligation Bonds
,
The government issues general obligation bonds to provide funds
for the
acquisition and construction of major capital facilities.
General obligation bonds are direct obligations and pledge the full faith and
credit of the government. General obligation bonds currently outstanding are
as follows:
,
Fund Debt Balances
Issue Retired by May 1 Issuances Retirements
Balances
April 30
Sewerage Improvement
Bond Series of 1973
($1,080,000 dated
June 1, 1973; mat-
'
uring December 1,
1992; payable in
annual installments;
interest rates from Debt
4.4% to 5.1%) Service $250,000 75,000
175,000
Sewer Treatment
Facility Bond Series
of 1973; ($2,000,000
1
dated June 1, 1973;
maturing December 1,
1992; payable in
annual installments;
interest rates from Debt
4.4% to 6.0%) Service 550,000 125,000
425,000
Corporate Purpose Bond
Series of 1982;
($500,000 dated Oct-
ober 1, 1982; matur-
ing.December 1, 1994;
payable in annual in-
'
stallments; interest
rates from 4.4% to Debt
6.0%) Service 375,000 50,000
325,000
Corporate Purpose Bond
Series of 1982-A;
($500,000 dated Dec-
ember 1, 1982; matur-
ing December 1, 1993;
payable in annual in-
stallments; interest
rates from 7.0% to Debt
8.5%) Service $250,000 50,000
200,000
22
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30,..1990
8. Long -Term Debt (Cont.)
A. General Obligation Bonds (Cont.)
Fund Debt
Issue Retired By
Corporate Purpose
Bond Series of 1986;
($11,000,000 dated
May.l, 1986; maturing
January 1, 2005; payable
in annual installments;
interest rates from 6.40%
to 7.75%)'
Corporate Purpose Bond
Series of 1987;
($10,000,000 dated
October 8, 1987; mat-
uring October 8, 2002;
interest rate from 8.4%
to 8.5%).
General Obligation Bond
Series of 1988;
($3,000,000 dated Nov-
ember 1, 1988; maturing
January 1, 2004; payable
in annual installments!
Debt
Service
Balances Balances
May'1 Issuances Retirements. April 30
$10,600,000
*Expendable
Trust.. 10,000,000
300,000 10,300,000
10,000,000
interest rates from 6.7% Debt.
to 8.0%), Service3.000.000 100,000 2,900,000
$25,025.000 - 700,000.. 24,325,000
* These bonds were issued in Fiscal 1988.with the proceeds used to purchase'
$10,000,000 of Dade County _Florida Aviation Reserve Bonds. These bonds are
carried as an. investment in the Expendable Trust Fund with the interest on
these bonds paying the interest on the G.O. bonds.
23
VILIAGE.OF DEERFIELD, ILLINOIS
NOTES
TO THE FINANCIAL STATEMENTS
APRIL 30, 1990
8. Long -Term Debt (Cont.)
B. Debt Service Requirements to Maturity
Annual debt
follows:
service.requirements
to maturity
are as
General
Obligation
Bonds
Fiscal: Year
General
Ending
Expendable
Long -Term
April 30
Trust
Debt
Totals
1991
$` 843.,000
1,817,600
.2,660,600
1992
843,000-
1,827,450
2,670,450
1993
843.,000
1,827,212
2,670,212
1994
1995.
843,000
843,000,
1,586,475
1,528,262
.2,429,415
2,371,262.
1996
84.3,000
1,430,993
2,273,993
1997
843,000:
1,447,497
.2,290,497
-1998
843,000
1,443,997
2,286,997
1999
843,000
1,442,037
2,285,037,
2000
843,000
1,429,950
2,272,950 .
2001
843,000
1,438,650
2,281,6.50
2002
7,549.,000
1,446,200
8,995,200
2003
3,127,500
1,454,513
4,582,013
2004
2005
.1,432,050
1,115,538
1,432,050
1.115,538.
Total Principal
and Interest
19,949,500
22,668,424
42,617,924
Interest Portion
S 9,949,500
8,343,424
18,218,2
24
' VILLAGE OF DEERFIELD,-ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
' APRIL 30, 1990
8. Long -Term Debt (Cont.)
C. Changes in Long -Term Liabilities
During -the fiscal year the following changes occurred in liabilities
y g g
reported in the general long-term debt account group:
Balances Balances
May 1 Additions. Reductions April 30
Sewerage Improvement
Bond Series of 1973 $ 250,000 75,000 175,000
1
Sewerage Treatment Facility Bond Series
of 1973 550,000 125,000 425,000
Corporate Purpose Bond
Series. of 1982 375,000 50,000 325,000
Corporate Purpose Bond
Series of 1982-A 250,000 50,000 200,000
Corporate Purpose Bond
Series of 1986 10,600,000 300,000 10,300,000
Corporate Purpose Bond
Series of 1988 3.000,000 100,000 2,900,000
515,025,000 700,000 14,325 MOO
' D. Legal Debt Margin
The government is a home rule municipality.
Article VII, Section 6(k) of the 1970 Illinois Constitution governs
computation of the legal debt margin.
"The General Assembly may limit by law the amount and require
referendum approval of debt to be incurred by home rule
municipalities, payable from ad valorem property tax receipts,
only in excess of the following percentages of the assessed
value of its taxable property ...(2) if its population is more
than 25,000 and less than 500,000 an aggregate of one percent:
.indebtedness which is outstanding on the effective date
(July 1, 1971) of this constitution or which is thereafter
approved by referendum... shall not be included in the.
foregoing percentage amounts."
To date the General Assembly has set no limits for home rule
municipalities.
25
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30 1990
8. Long -Term Debt (Cont.)
E. Noncommitment Debt
Industrial Development Revenue Bonds
The government qualifies as a Home Rule Unit under Section 6(a) of
Article VII of the 1970 Constitution of Illinois and, under the powers
granted by this section; can exercise any power and perform any function
pertaining to its government and affairs which is not prohibited by the
Illinois Revised Statutes.
The issuance of Industrial Development Revenue Bonds .by the government
is to finance in whole or in part the cost of the acquisition, purchase,'
construction, reconstruction, improvement, equipping, betterment or
extension of any, economic development project in order to encourage
economic development within or near the government.
Industrial development Revenue Bonds are not a debt of the government.
The entity using the bond proceeds to finance a construction or
improvement project is liable for the bonds. Since the government does
not act as an agent for Industrial Development Revenue Bonds, the
transactions relating to the bonds and property do not appear in the
government's financial statements.
The government has authorized the issuance of the following such bonds:
Date Issued
Type of
Bond
Amount
Debtor
12/20/82
Industrial
Revenue
$1,615,000
Chi-Chi's Inc.
4/16/84
Industrial
Revenue
1,000,000
Teradyne, Inc.
12/17/84
Industrial
Revenue
4,.500,000
Industrialplex
Limited Partnership
F. Operating Transfers
Operating transfers do not tie out due to the $4,416 transferred to the
General Fund and $57,324 transferred to the Public Benefit Fund from the
Special Assessment Fund (Agency Fund).
26
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
`APRIL 30,' 19'90
9. Interfund Assets/Liabilities
Due From/To Other Funds
Receivable Fund
Payable Fund
Amount
General
Tax Increment Finance.
District #2
$ 820,000
Municipal Audit
Street and Bridge
59
Illinois Municipal Retirement
Library
4,102
Illinois Municipal Retirement.
Street and Bridge
6,691
Illinois Municipal Retirement-
Debt Service
2,521
Tax Increment Finance District
#1
Municipal Audit
2,650
Tax Increment Finance District
#1
Emergency Services
Disaster
2,239
Tax Increment Finance District
#1
Library
989
.Tax Increment Finance District
#1
Street and Bridge
161394
Tax Increment Finance District
#1
Illinois Municipal
Retirement
9,364
Tax Increment Finance District
#1
Debt Service
60,608
Tax Increment Finance District
#1
Refuse
19,240
Tax Increment Finance District
#1
Police Pension
8,571
Brickyards Development
Tax Increment Finance.
District #1,
170,000
Sewerage
General
5,441
Refuse
Emergency Services/
Disaster
42
Refuse
Street and Bridge
529
Refuse
Police Pension
1,046
Deposit
General
6,928
-'
51,137,414
27
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1990
10. Commitments
High -Level Excess liability Pool (HELP)
The government has committed to purchase excess liability insurance from the
High -Level Excess Liability Pool (Agency), a joint venture of Illinois
municipalities. The government expects to pay the following minimum amounts
(these amounts represent the government's share of the principal and
interest - "fixed costs" - of the Agency):
Year EndinE Amount
1991
$24,398
1992
25,352
1993
25,263
1994
25,094
1995
25,744
1996
26,258
1997
25,731
1998
$26,024
These amounts have been calculated using the government's current allocation
percentage of 3.61%. In future. years this allocation percentage will .be
subject to change, because the Agency's Agreement provides that.each year
Members will be assessed based upon.a formula which specifies the following
four criteria for allocating premium costs:
Miles of Streets
Full -Time Equivalent Employees
Number of Motor Vehicles
Operating Revenues
28
1
1
1
1
1
1
1
f
1
1
1
1
1
1
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS.
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1990
11. Segment Information - Enterprise Funds
The government maintains the following enterprise funds_ which areintended
to be self-supporting through user fees charged for services to the public.
Financial segment information as of the date of this report and for the
fiscal year is as follows:
Operating Revenues
Depreciation, and
Amortization Expense
Operating Income (Loss)
Operating Grants, Entitlements,
and Shared Revenues
Operating Transfers In
Operating Transfers Out
Tax Revenues
Net Income (Loss)
Current Capital Contributions.
Current Capital Transfers
Plant, Property, and Equipment
Additions
Deletions .
.Total Assets
Net Working Capital
Bonds and Other Long -Term
Liabilities
Payable from Operating Revenues
Payable from Other Sources
Total - Equity
Commuter
Water
Sewerage
Refuse
Parking Lot:
Fund
-Fund
Fund
Fund
Totals
$2,174,819
1,239,397
601,450'
125,398
4,141,064
104,125
241,234
-
30,698
376,057
181,001
(163,706)
(673,450)
64,975.
(591,180)
33,000
30,000
-
40,000
103,000
-
-
621,687
-
621,687'
252,881
(103,059)
(46,826)
24,915
127,971
229,510
3,669
-
-
233,179
4,512,098
8,056,423
677,079
669,230
13,914,830
1,953,317
1,476,050
500,769
311,948
4,242,084
$4,377,903
7,928,396
500,769
667,910
13,474,978
29
VILLAGE
OF DEERFIELD,
ILLINOIS
NOTES TO
THE FINANCIAL
STATEMENTS
APRIL 30;.1990
12.- Contributed Capital
During the year contributed capital increased/decreased
by
the following.
amounts:
Commuter
Water
Sewerage
Parking Lot
Fund
Fund
Fund
,.
Increases
Decreases
Depreciation
S 45.929
118,807
27.027
Net Increase (Decrease)
(459929)
(118,807)
(27,027)
Contributed Capital.
May 1
1,913,458
6,260,411
352,213
April 30
S1,867:529
6,141,604
325.186
13. Fund Equity
A. Prior Period Adjustments
During the fiscal.year.prior.period adjustments were made as follows:.
Amount
Water Fund
To correct for prior year's error in accounting
for accounts receivable.
150 000
B. Residual Equity Transfer
During the fiscal year the General Fund received a residual equity
transfer from the. General Fixed Assets. Account Group in the amount of
$1,000,000. Therefore, the residual equity transfers do not "net" to
"zero since Account Groups do not present transfers for financial
reporting purposes.
30
I
11
r]
11
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE•FINANCIAL STATEMENTS
APRIL 30, 1990.
14. Contingent Liabilities
A. Litigation
The government is a defendant in various lawsuits. Although the, out-
come of these lawsuits is not presently -determinable, in the opinion of
the government's attorney the resolution of these matters will not have
a material adverse effect on the financial condition of the government.
B. Grants
Amounts received or receivable from grantor agencies are subject to
audit and adjustment by grantor agencies; principally the federal
government. Any disallowed claims, including amounts already col-
lected, may constitute a liability of the applicable funds. The amount,
if any, of expenditures which may be disallowed by the grantor cannot be
determined at this time although the government expects such amounts, if
any, to be immaterial.
C. High -Level Excess Liability Pool (HELP)
The government's agreement with the High -Level Excess Liability Pool
provides that each member is liable for its proportionate share.of any
costs arising from defaults in payment obligations by other members.
15. Subsequent Events
There were no material subsequent events.
16. Joint Ventures
A. Municipal Insurance Cooperative Association (MICA)
Description of Joint Venture
The Municipal Insurance Cooperative Association (MICA) is a governmental
joint venture established by certain units of local government in
Illinois to administer some or all of their general liability insurance
programs.
Management consists of a Board of Directors comprised of one appointed
representative from each member. In addition, there are three officers,
a Benefit Administrator and a Treasurer.
The government does not exercise any control over activities of MICA
beyond its representation on the Board of Directors. MICA functions
solely as an administrative agent for each member.
31
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1990
16. Joint Ventures (Cont.)
A. Municipal Insurance Cooperative Association (MICA) (Cont.)
Summary Financial Information of Joint Venture
The latest available financial statements of the Cooperative, dated
April 30, 1989, show the following:
Government's
Total Share
Total Assets 51,360,140 315.586
Total Liabilities 568,138 131,822
Total Equity 792,002 183,764_
Total Liabilities and
Equity 51.360,140 315,586
B. High -Level Excess Liability Pool (HELP)
Description of Joint Venture
The High -Level Excess Liability Pool (the "Agency") is a proprietary
joint venture and was organized on April 1, 1987. The purpose of the
•.Agency is to act as a joint self-insurance pool for the purpose of
seeking the prevention or lessening of liability claims for 'injuries to
persons or property or claims for errors and omissions made against the
Members and other parties included within the scope of coverage of the
.Agency.
32
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1990
16. Joint Ventures (Cont.)
B. High -Level Excess Liability Pool (HELP)
Description of Joint Venture (Cont.).
At the date of this report, the following municipalities were members.of
the Agency:
Share Share
Village of Arlington Heights ll..78% Village of Mt. Prospect 7.50%
Village of Chicago Ridge 2.17 Village of Oak Lawn 9.79
Village of Deerfield 3.61 City of Park Ridge 5.83
City.of Des Plaines 10.92 .Village of Skokie 10.32
Village of Elk Grove Village 7.74 Village of Streamwood 4.29.
Village of Glenview 6.35 City of Wheaton 7.15
Village of Hoffman Estates 6.78 Village of Winnetka. 4.41
Village of Lincolnshire 1.36
100.00�
'
These percentage shares are: subject to change in future years based upon
a formula specified in the Agency Agreement.:
The Agency is governed by a Board of Directors which consists of :one
appointed representative from each member municipality. Each -'Director
has an equal vote. The officers of the Agency are appointed by the
Board of Directors. The Board of Directors determines the general
'
policy of the Agency, makes all appropriations, approves contracts,
adopts resolutions providing for'the issuance of debt by the Agency,
adopts by-laws,_ rules and regulations, andexercises such powers and
performs such duties as may be prescribed in the Agency Agreement or the
by-laws.
'
The government does not exercise any control over the activities of the.
Agency beyond its representation on the Board of Directors.
33
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1990
16. Joint Ventures (Cont.)
B. High -Level Excess Liability Pool (HELP) (Cont.)
Summary Financial Information of Joint.Venture
Summary of Financial Position as of April 30, 1990:
Assets
..Liabilities and Fund
Equity'
Current Assets
Current Liabilities
Cash and Investments
Accounts Payable.
16,301.
Unrestricted
$2,326,749
Due to Village of
Escrow Agreement
5,635,173
Elk Grove, Village
400,000
7,961,922
Accrued Interest
Payable
126,437
Receivables.
Deferred Revenues
529,455
Accounts
107,875
1,072,193
Long -Term Liabil-
ities
Rebate Payable
96.,078
Due to Village of
Elk Grove Village
3,875,000
3,971,078
Total Liabil-
ities
5,04.3,271
Fund .Equity
Retained Earnings
3,026,526
Total Liabil-
ities and
Total Assets
58,069 797
Fund Equity
8,069,797,.
34
ri
1
1
i
1
1
1
1
1
1
1
1
1
1
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1990
16. Joint Ventures (Cont.)
B. High -Level Excess Liability Pool (HELP) (Cont.)
Summary Financial Information of Joint Venture (Cont.)
Summary of Revenues, Expenses, and Changes in Retained Earnings for
the year ended April 30, 1990:
Operating Revenues
Operating Expenses
Operating Income
Nonoperating Revenues (Expenses)
Interest Income
Interest Expense
Claims Adjustments
Net Income
Retained Earnings
May 1
April 30
35
$: 964,059
33,375
930,684
510,632
(287,542)
50.000
273.090
1,203,774
1,822,752
$3,0
VILLAGE OF DEERFIELD, ILLINOIS
NOTES,TO THE FINANCIAL STATEMENTS
APRIL 30, 1990
16. Joint Ventures (Cont.)
B. High -Level Excess Liability Pool
(HELP) (Cont.)
Summary Financial Information
of Joint Venture (Cont.)
Government's Share of Assets,
Liabilities,
Fund Equity
and Changes
for the year ended April 30,
1990:
Balances
Increases
Balances
May 1
(Decreases)
April 30
Total Assets
255.752
35,568
291,320
Total Liabilities
191,088
(9,026)
182,062
Fund Equity
Retained Earnings 64,664 44,594 109,258
Total Liabilities
and Fund Equity 255.752 35,568 291,320
Government's Share of Net Income 44,594
Joint Venture Debt - Changes in Long -Term Debt
Balances Balances
May 1 Issuances Retirements April 30
Due to Village of
Elk Grove Village
for Retirement of
General Obligation
Bonds 54,650;000 375,000 4,275,000
36
�J
F-1
L
1
pi
11
1
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO;THE.FINANCIAL STATEMENTS
APRIL 30, 1990
16. Joint Ventures (Cont.)
B. High -Level Excess Liability Pool (HELP) (Cont.)
Joint Venture Debt - Security for the Debt
The Village of Elk Grove Village, Illinois (the initial Host Member)
issued $5,000,000 of general obligation bonds in 1987 to provide initial
funding for the Agency. The bond proceeds were put into escrow with
LaSalle National Bank as escrow agent. An intergovernmental, agreement
among the Agency, the Village of Elk Grove Village, and the Members
provides that the Agency and its Members are obligated to the Village of
Elk Grove Village for payment of principal and interest on the bonds
until such bonds have been retired. Additionally each Member is liable
for its proportionate share of any default by other Members. The
obligations of the Agency and its Members are unconditional.
17. Deferred Compensation Plan
The government offers its employees a deferred compensation plan created in
accordance with Internal Revenue Code Section 457. The plan, available to
all government employees, permits them to defer a portion of their salary
until future years. Participation in the plan is optional. The deferred
compensation is not available to employees until termination, retirement,
death or unforeseeable emergency. All amounts of compensation deferred
under the plan, all property and rights purchased with those amounts, and
all income attributable to those amounts, property, or rights are (until
paid or made available to the employee or other beneficiary) solely the
property and rights of the government subject only to the claims of the
government's general creditors. Participants' rights under the plan are
equal to those of general creditors of the government in an amount equal to
the fair market value of the deferred account for each participant.
It is the opinion of the government's legal counsel that the government has
no liability for losses under the plan but does have the duty of due care
that would be required of an ordinary prudent investor. The government
believes that it is unlikely that it will use the assets to satisfy the
claims of general creditors in the future.
18. Post -Employment Health Care Benefits
In addition to providing pension benefits, the government provides certain
health care and life insurance benefits for all retired employees.
Substantially all of the government's employees may become eligible for
those benefits if they reach normal retirement age while working for the
government.. The cost of retiree health care and life insurance benefits is
recognized as an expenditure as claims are paid. For the fiscal year those
37
19.
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30,.1990
Employee Retirement Systems (Cont.)
B. Summary of Significant Accounting Policies and Plan Asset Matters
Basis of Accounting
The financial statements are prepared using the accrual basis of
accounting. Employee and employer contributions are recognized as
revenues in the period in which employee services are performed.
Method Used to Value Investments
Fixed -income securities are reported at amortized cost with discounts or
premiums amortized using the effective interest rate method, subject to
adjustment for market declines judged to be other than temporary (lower
of cost or market).. Investment income is recognized as earned. Gains
and losses on sales and exchanges of fixed -income securities are
recognized on the transaction date. Equity securities are reported at
cost subjec t.to-adjustment.for market declines judged to be other than
temporary (lower of cost or market);.
Significant Investments
There are no investments. (other than U.S. government and U.S.
government -guaranteed obligations) in any one organization that
represent 5 percent or more of net assets available for benefits.
Related Party Transactions
There are no securities of the employer or any other related parties
included in plan assets, including any loans.
C. Funding Status and Progress
The amount shown below as the "pension benefit obligation" isa
standardized disclosure measure of the present value of pension
benefits, adjusted for the effects of projected salary increases and
step -rate benefits, estimated to be payable in the future as a result of
employee service to date. The measure is intended to help users assess
the funding status of the system on a .going -concern basis, assess
progress made in accumulating sufficient assets to pay benefits when
due, and make comparisons among employers. The measure is the actuarial
present value of credited protected benefits and is independent of the
funding method used to determine contributions to the System.
40
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, . 1990
19. Employee Retirement Systems (Cont.)
C. Funding Status and Progress (Cont.)
Illinois
Municipal
Retirement
December 31,
Actuarial Valuation Date 1989,
Significant Actuarial
Assumptions.
a) Rate of Return on Invest 7.00%
ment of Present and compounded.
Future Assets annually
b) Projected Salary
3.75% ]
Increases - Attribut-
compounded ..J
able to Inflation
annually, ]
]
c) Additional Projected
J
J
Salary Increases -
]
Attributable to
]
Seniority/Merit
1.00% J
d) Postretirement Benefit 3.00%
Increases
Police.
Pension
April, 30,
1990
9.00%
compounded
annually
6..50%
compounded
annually
(Note - separate
information for b)
and c).not available
3.00%
simple interest
annually
41
Il
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1990
19. Employee Retirement Systems (Cont..)
C.. Funding Status and Progress (Cont.)..
Illinois
Municipal
Retirement
Pension Benefit Obligation
Retirees and Beneficiaries
Currently Receiving
Benefits and Terminated (Note)
Employees not yet
Receiving Benefits $ 61,615
Current Employees
Accumulated.Employee
Contributions
Including Allocated
Investment Earnings .
Employer - Financed Vested
Employer - Financed
Nonvested
Total Pension Benefit`
Obligation
Net Assets Available for
Benefits, at Lower of
Cost'or Market
(Market Values).
(IMRF - $1,940,684)
(Police- - 6,765,847),
(Totals S8,706,531)
Unfunded (Assets in Excess of)_
Pension Benefit Obligation
-984,960
2,191,472
251,460
3,489,507
Police
Pension
1,969,842
908,740
2,309,251
54,790
■
Totals
2,031,457
1,893,700 .
4,500,723
306,250 A
5,242,623 8,732,130
1,770,910
6,425,063
8,195,973
51,718,597
(1,182,440)
536.157
(Note) The pension benefit obligation applicable to retirees and beneficiaries
currently receiving benefits is not included in the above schedule due
to the fact that this obligation was transferred from the government to
IMRF as a whole when the annuity became payable.
42
1
1
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE'FINANCIAL STATEMENTS
APRIL 30', 1990
Employee Retirement Systems (Cont.)
C. Funding Status and Progress (Cont.)
Effects on the Pension Benefit Obligation of Current -Year Changes
Illinois Municipal Retirement
c
Current -year changes in the actuarial assumptions, benefit provisions
and methodology are reflected in the pension benefit obligation shown
above. This amount has been calculated by the System's actuary using
the measure described above. The dollar effect of these changes on the
pension benefit obligation was not economically determinable on an
individual employer basis by IMRF.
Police Pension
There have been no current -year changes in the actuarial assumptions and
benefit provisions.
D. Contributions Required and Contributions Made
Illinois.Municipal Retirement and Police Pension
' The Systems' funding policy provides for actuarially determined peri-
odic contributions at rates that, for individual employees, accumulate
assets gradually over time so that sufficient assets will be'available
to pay benefits when due. The rate for the government's employee group
as a whole has tended to remain level as a percentage of annual covered
payroll. The contributions rate for normal cost is determined using the
entry age normal actuarial funding method. The IMRF System used the
level percentage of payroll method, while the Police Pension System used
a level dollar amount method to amortize the unfunded liability over a
40 year period.
The significant actuarial assumptions used to compute the actuarially
determined contribution requirements are the same as those used to
compute the pension benefit obligation as described in C. above.
43
i
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
APRIL 30, 1990
19. Employee Retirement Systems (Cont.)
D. Contributions Required and Contributions Made (Cont.)
Illinois
Municipal Police
Retirement Pension
December 31, April 30,
Actuarial Valuation date 1989 1990
Actuarially Determined Contri-
bution Requirement - Employer
As a Dollar Amount
.Normal Cost
Amortization of Unfunded Actu-
arial Accrued Liability
Death and Disability Cost
As a % of Current Covered Payroll
Normal.Cost
Amortization of Unfunded Actu-
arial Accrued Liability
Death and Disability Cost
Contribution Made
As a Dollar Amount
Employer
Employee
As a % of Current Covered Payroll
Totals
$182,969 89,776. 272,745
64,856 43,837 108,693
18,455 18,455
266,280 133,613 399,893
6.94% 6.2%
2.46 3.0
.70
10.10% 9.2%.
266,280 160,461 426,741
118:539 127,777 246,316
384 819 288.238 673.057 .
Employer 10.10% 11.00%
Employee 4.50 9.00
14.60% 19.75%
Effects on the Contribution Requirements of Current -Year Changes
Illinois Municipal Retirement
Current -year changes in the actuarial assumptions, benefit provisions,
and methodology, are incorporated in the 1990 to 1991 employer
contribution rates. Separate dollar effects of each change were not
economically determinable on an individual employer basis by IMRF.
44
1
i
1
1
1
1
1
1
1
I
1
1
A
1
i
1
1
VILLAGE OF DEERFIELD, ILLINOIS
NOTES TO THE FINANCIAL STATEMENTS
.APRIL 30, 1990
19. Employee Retirement Systems (Cont.)
D. Contributions Required and Contributions Made (Cont.)
Police Pension
There have been no current -year changes in the actuarial assumptions,
actuarial funding method, or benefit provisions.
E. Trend Information
Trend information gives an indicationof the progress made -in accumulating
sufficient assets to pay benefits when due. Ten-year trend information may be
found in the supplemental section of the government's annual financial report.
Net Assets Available for Bene-
fits As a % of the Pension
...Benefit Obligation (PBO)
Unfunded (Assets in Excess of)
PBO As a %.of Annual Covered
Payroll (Expressing the unfunded
pension benefit obligation as a
percentage of annual covered
payroll approximately adjusts
for the effects of inflation
for analysis purposes)
Employer Contributions
As a % of Annual Covered
Payroll
Required
Made
Illinois
Municipal
Police
Year
Retirement
Pension
Totals
1988
55.29%
118.00%
1989
47.44%
118.00%
1990
50.75%
123.00%
t
1988
63.00%
- (62.00)%
1989
65.21%
.(63.00)$_
1990
65.19%
(81.00)%
1988
8.21%
12.05%
1989
8.08%
11.26%
1990
10.10%
11.00%
1988
$179,472
139,841
319,313
1989
.204,352
142,707
347,059
1990
266,280
133,613
399,893
1988
179,472
150,024
329,496
1989
204,352
155,430
358,752
1990
$266,280
160,461
426,741
45
n
1
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.1
11
GOVERNMENTAL FUN® TYPES
1
1
L
.1
GENERAL FUN®
L
F
A
GENERAL FUND
General Fund - (also referred to as the Corporate Fund) To account for resources ,
traditionally associated with governmental services not required to be
accounted for in another fund. ,
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
VILLAGE OF DEERFIELD; ILLINOIS
GENERAL FUND
BALANCE SHEET
APRIL 30, 1990
ASSETS
Cash and Investments
Receivables
Accrued Interest
Other
Due from Other Governments
Sales Tax .
State Income Tax
Court Fines
Due from Other Funds
Inventory
Investment in Joint Venture - HELP
Total Assets
LIABILITIES AND FUND BALANCE
Liabilities
Accounts Payable
Accrued Payroll
Contracts Payable
Compensated Absences Payable
Other Payables,
Due to Other. Funds
Total Liabilities
Fund Balance .
...Reserved for Long -Term Interfund,Receivable
Reserved for Inventory
Reserved for Investment in Joint Venture - HELP
Unreserved
Designated - Capital Improvements
Undesignated
Total Fund Balance
Total Liabilities and Fund Balance
46
1990 1989
$5,535,886 3,418,096
63,064
9,778
68,855
98,225
129,962
123,218
78,752.
69,770
21 J23.
13 ;144
820,000
828,188
12,780
67.958
40.221
6.798.380 4 60®
95,551
109,721
709899
54,008,
892
295;208
297,917
6,363
6,390
12,369
1,779
480,390
470,707
820,000 820,000
12,780
67,958 40,221
3,500,000 1,000,000
1,917,252 2,269,712
6,317,990 4,129,933
56,798,380 4 , 600,640
VILLAGE OF DEERFIELD, ILLINOIS
GENERAL FUND
STATEMENT
OF REVENUES, EXPENDITURES,
AND CHANGES IN
FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30,
1990
1990
1989
Budget
Actual
Actual
Revenues
,Taxes
$3,345,000
3,304,093
3,277,477
Licenses and Permits
225,000
191,498
467,923
Intergovernmental
8,000
9;208
7,164
Charges for Services
95,000
105,522
100,539
Fines and Forfeits
220,000
254,610
206,902
Interest
200,000
372,140
246,984
Miscellaneous
207,000
903,283
242,720'.
Total Revenues
4,300,000
5,140,354
4,549:709
Expenditures
General Government
1,391,180
1,377,270
1,.384,532
Public Safety
2,892,362
2,646,391
2,359,378
Total Expenditures
4,283,542
4,023,661
3,743,910
Excess (Deficiency) of Revenues
over Expenditures
16,458
1,116,693
805,759
Other Financial Sources (Uses)
Operating Transfers In (Out)
Youth Bound Fund
(4,000)
(4,000)
(4,000)
Motor Fuel Tax Fund
(6,213)
Transportation Fund
(2,000)
(2,000)
(2,000)
Tax Incremental Finance District
2 Fund
(75,000)
(47,649)
(50,922)
Special Assessment Fund
4,416
(81,000)
(49,233)
(63,135)
Excess (Deficiency) of Revenues
and
Other Financing Sources over -Expen-
ditures and Other Financing Uses S (64,542)
1,067,460
742,624
Fund Balance
May 1
4,129,933
3,406,585
Prior Period Adjustments
(19,276)
Residual Equity Transfer In
1,120,597
Adjusted Balance
5,250,530
3_,387,309
April 30
6,317,990
4,129,933
See accompanying Notes to the Financial Statements.
47
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
GENERAL FUND
SCHEDULE OF REVENUES'- BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1990
Budget
Actual
Taxes
Property Taxes - General
Sales Tax
$2,160,000
2,012,188
Income.Tax
560,000
587,918
Hotel Motel Tax
625,000
674,367
Photofinishing Tax
-
29,620
.3,345,000
3,304,093
Licenses and Permits
Beer/Liquor Licenses
48,000
47,625
Food Licenses
4,500
4,202
Other Business Licenses
9,000
9,760
Building Permits
125,000
93,818
Animal Licenses
6,500
6,,687
Non -Business Licenses and Permits
32,000
29.406
225,000
191,498
Intergovernmental
State Grants 8.000 9.208
Charges for Services
Special Police Services
44,000
55,748
Transfer Charges
45,000
45,000
Engineering Charges
6,000
4,774
95.000
105,522
Fines and Forfeits
220,000
254,610
Interest
20MOO
372,140
Miscellaneous
False Alarms
28,000
53,420
Sale of Materials
2,018
Rentals
33,500
45,827
Miscellaneous
20,500
4,630
Franchise Fees
125,000.
142,962
Income from Joint Venture
27,737
Sale of Land
589,821
Sale of Fixed Assets
36.868
207,000
903,283
Total Revenues
$4.300.000
5 140,354
48
u
VILLAGE OF DEERFIELD, ILLINOIS
GENERAL FUND
SCHEDULE OF EXPENDITURES - BUDGET
AND ACTUAL
FOR THE YEAR ENDED APRIL 30,,
1990
,
Bum
Actual
'
General Government
Administration Department
Salaries
$ 683,280
677,734
Overtime
11,000
14,386
Part -Time
95,000
74,092
Employee Benefits
110,400
82,781
Professional Services
154,000
175,803
Travel, Training and Dues
19,500
19,828
Printing and Advertising
12,000
16,458
'
Communications
.24,700
19,737
Insurance
71,600
61,094
Contractual Services
60,000
7,3,866
Utility Services
2,500
3,062
Motor Vehicle Maintenance
6,000
5,386
Repairs and Maintenance
25,500
6,814
Equipment Rental
588
Rental Property Repairs
4,000
1,391
Miscellaneous
35,000
41,572
Supplies
23,500
29,597
Materials
2,000
66
Motor Vehicle Supplies
2,000
793
Housing Assistance
38,000
27,200
Apparel
200
288
,
Small Tools and Equipment
1,000
Equipment
10,000
42,583
Office Furniture
2,151
'
Total General Government
1,391,180
1,377,270
Public Safety
Police Department
Administrative Service
'
Salaries
439,700
416,761
Overtime
3,500
3,261
Part -Time
28,500
12,204
,
Employee Benefits
63,800
37,937
Professional Services
5,500
3,253
Travel, Training and Dues
5,800
2,677
Printing and Advertising
6,400
7,988
,
Communications
32,100
25,562
Insurance
141,300
112,278
Contractual Services
45,400
28,750
'
Motor Vehicle Maintenance
2,000
1,111
Repairs and Maintenance
$ 12,000
12,137
49
'
VILLAGE OF DEERFIELD, ILLINOIS
GENERAL FUND
SCHEDULE OF EXPENDITURES - BUDGET AND
ACTUAL (CONT.)
FOR THE YEAR.ENDED APRIL 30,
1990
'
Budget
Actual
Public Safety (Cont.)
Police Department (Cont.)
Administrative Service
Supplies
$ 12,200
10,254
Apparel
4,500
5,180
'
Equipment
13,800
7,229
Motor Vehicles
9.000
13.596
Miscellaneous
837,800
703,179
Investigations
Salaries
138,000
124,920
Overtime
8,000
7,876
Employee Benefits
16,700
14,500
Travel, Training and Dues
1,100
292
Contractual. Services
27,550
26,635
Motor Vehicle Maintenance
4,000
11415
-Repairs and Maintenance
1,000
Supplies
5,000
.2,459
Motor Vehicle Supplies
13,000
522
Apparel
1,800
2,086
Equipment
1,500
812'
Motor Vehicles
13.516
217,650
195,033
'
Patrol
Salaries
1,151,682
1,171,159
Overtime
56,000
36,806
Part -Time
42,110
30,679
'
Employee Benefits
168,920
122,045
Travel, Training and Dues
24,050
23,647
Motor Vehicle Maintenance
.29,900
19,205
Repairs and Maintenance
2,000
2,841
Supplies
8,600
5,674
Motor Vehicle Supplies
25,000
11,895
Apparel
22,400
15,628
Equipment
3,940
4,931
Motor Vehicles
70.000
93.955
'
1,604,602
1,538,465
Special Services
Salaries
$ 26.820
28.403
50
VILLAGE OF DEERFIELD, ILLINOIS
GENERAL FUND
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED APRIL.30, 1990
Public Safety (Cont.)
Police Department (Cont.)
Youth Services
Salaries
Overtime
Employee Benefits
Travel, Training and Dues
Motor Vehicle Maintenance
Repairs and Maintenance
Supplies
Motor Vehicle Supplies
Apparel
Equipment
Total Public Safety
Total Expenditures
Budget
$ . 152,240
5,600
21,420
1,600
3,500
15,500
930
2,000
1,200
1.500
205,490
2,892,362
S4,283,542
Actual
146,937
1,436 '
17,409
1,521
7,926
2,295
215
434
1,810
1.328
181,311
2.646,391 '
4,023;661
1 .
51
' Municipal Audit Fund
Municipal Audit Fund - An independent, outside audit. is conducted by a firm
. engaged by the Mayor and Board of Trustees on an annual.basis as required by
State law.. These are earmarked. funds that can only be expended for audit
purposes..
Emergency Services/Disaster Fund
' Emergency Services and Disaster Fund - The Emergency Services and Disaster Agency
supersedes the Civil Defense Agency and now basically. relates to natural
disasters caused by floods and tornadoes. The Agency also prepares` a plan of
action to be taken if man-made disasters occur.
Youth Bound Fund
Youth Bound Fund — Accounts for the revenues collected and the expenditures
incurred for this unique and very successful youth project of the Deerfield
Police Department.
Library Fund
Library Fund - To account for the resources necessary to provide the educational,
cultural and recreational activities of the .Deerfield Public Library.
Street and Bridge Fund
Street and Bridge Fund - Accounts for the revenues and resources used.in main-
taining approximately 70 miles of street and the Railroad Station in the
Village of Deerfield.
.Illinois Municipal Retirement Fund
Illinois Municipal Retirement Fund - To account for the revenues and expenditures
associated with providing disability and pension benefits for Deerfield
employees. The fund also provides the employer with a portion of F.I.C.A.
Contributions.
Public Benefit Fund
Public Benefit Fund - To account for the public benefit portion of local
improvements installed under the special assessment procedure of financing is
paid from this fund.
I
SPECIAL REVENUES FUNDS (CONT.)
Motor Fuel Tax Fund
Motor Fuel Tax Fund— To account for the activities involved with street
maintenance and construction.. Financing is provided by the Village's share. of
State gasoline taxes. State law required these gasoline taxes to be used for
the following purposes: (1).Street construction or reconstruction to improve
traffic capacity; (2) Installation of traffic signs, signals, and controls;
(3) Sidewalk repair and replacement; and (4) The public benefit share of new
street improvements when certain criteria are met in connection with a .
special assessment project.
Transportation Fund
Transportation Fund - To account for the Taxi Subsidy Program established for
senior citizens and the handicapped.
Enhanced 911 Fund
To account for the 911 calling telephone system activity.
I
11
I
it
SPECIAL REVENUE FUNDS
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VILLAGE OF DEERFIELD,.ILLINOIS
MUNICIPAL AUDIT FUND
AND
STATEMENT OF REVENUES, EXPENDITURES,
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1990
1990
1989
'
Budd
Actual
Actual
Revenues
Taxes
Property Taxes
$12,500
12,370
10,419
Interest
41
34
Total Revenues
12,500
12,411
10,453
'
Expenditures
Miscellaneous
'
Contractual
$12,500
12,400
11,600
Excess (Deficiency).of
Revenues
Over Expenditures
-
(11)
(1.147)
'
Fund Balance
May 1
11,076
12,223
iApril
30
11� 087
11,076
1
54
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, 1990
Revenues
Taxes
Property Taxes
Interest
Total Revenues
Expenditures
Public Safety
Travel, Training and Dues
Communications
Insurance
Contractual
Utility Services
Motor Vehicle Maintenance
Repairs and Maintenance
Supplies
Equipment
Total Expenditures
Excess (Deficiency) of Revenues
over Expenditures
Fund Balance
May 1
April 30
1990
1989
Bum
Actual
Actual
'
$ 5,000
5,166
4,948
'
20
12
5.000
5.186
4.960
700
433
572
'
1,500
1,846
1,563
600
263
69
300
194
'
100
86
109
1,300 :
325
798
1,000.
1,015
323
700
348
346
500
2.514
6.700
4.510
6.294
1 700)
676
(1,.334)
'
17.384
18.718
18,060
17,384
See accompanying Notes to the Financial Statements.
55 '
1
1
1
1
1
1
1
1
t
1
1
1
1
1
1
1
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
YOUTH BOUND FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1990
1990
Budget Actual
Revenues
Charges for Services
Project Income $13,500
Expenditures
Culture and Recreation
Travel, Training and Dues
600
Insurance
110
Motor Vehicle Maintenance
2,500
Motor Vehicle Supplies
900
Repairs and Maintenance
400
Supplies
6,700
Equipment
1,200
Communications
1,300
Contractual
5,950
Total Expenditures
19,660
Excess (Deficiency) of Revenues
over Expenditures
(6,160)
Other Financing Sources
Operating Transfers In
.General Fund
4,000
Excess (Deficiency). of Revenues and
Other Financing Sources over Expendi-
tures
2,160)
Fund Balance
May 1
April 30
See accompanying Notes to the Financial Statements.
56
1,071
165,
150
1,318
194
2,898
(2,898)
4,000
1,102
4,310
5,412
1989
Actual
69
1,140
8
794
128
2,139
(2,139)
4,000
1,861
2,449
4,310
VILLAGE OF DEERFIELD, ILLINOIS
LIBRARY FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1990
1990
1989
Budget
Actual
Actual
Revenues
Taxes
Property Taxes
$ 814,493 .757,954
716,732
Replacement Taxes
16,000
18,022
20,326
Intergovernmental.
Grants
17,467
17,432
17,432
Charges for Services
Non -Resident Fees
15,000
14,400
13,499
Fees, Fines, Penalties
23,000
30,953
26,999
Reciprocal Borrowing
3,500
2,088
4,087
Xerox.
15,000
10,954
11,131
Videos
24,000
30,069
28,029
Interest
25,000
40,449
34,416
Miscellaneous
Gifts
500
165
753
Reserve for Repairs and Replacement
160,000.
575
Total Revenues
1,113,960 .923,061
873,404
Expenditures
Culture and Recreation $1,113,960 915,084 880,734
Excess (Deficiency) of Revenues
over Expenditures 7,977 (7,330)
Fund Balance
May 1 255,819 263,149
April 30 263,796 255,819
See accompanying Notes to the Financial Statements.
57
1
1
1
1
1
1
1
1
1
1
1
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
LIBRARY FUND
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1990
Culture and Recreation
Salaries - Professional
Salaries - Non -Professional
Employee Benefits
Professional Services
Education, Travel and Dues
Communication
Insurance
Contractual Services
Utilities
Repairs, Maintenance of Building and
Equipment Building Supplies
Supplies - Library and Office
Books
Periodicals
Audio -Visual
Binding
Special Library Programs
Data Base
New Equipment
Printing
Computer Service
Cataloging Service
Miscellaneous
Automation Project
Improvements - Other than Building
Total Expenditures
58
BudEet
Actual
$ 229;837
209,935
323,373
294,643
41,500
25,927
6,000
1,925
10,000
-'3,847
9,500
8,819
20,000
11,755
17,000.
8,346
1,000
727
95,000
.55,437
23,000
28,902
96,000
89,013
33,000
24,773
25,000
23,921
2,500
1,360
6,500
3,647
2,000
466
22,000.
12,843
7,000
5,722
--96 , 587
7,000
4,552
1,000
1,937
85,750
50,000
51,113,960
915,084
VILLAGE.OF DEERFIELD, ILLINOIS
STREET AND BRIDGE FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1990
1990
Budget
Actual
Revenues
Taxes
Property Taxes
$330,000
344,015
Other Taxes
190,000
190,000
Licenses and Permits
Vehicle Licenses
330,000
329,788
Charges for Services
State Highway Maintenance
21,000
22,492
50/50 Sidewalk and Curb
25,000
19,978
50/50 Tree
5,000
9,863
Train Station Maintenance
1,500
6,007
Interest
22,000
30,620,
Miscellaneous
Other
5.000
5.084
Total Revenues
929,500
957,847
Expenditures '
Highways and Streets
Administration
129,460
138,443
Cleaning
44,060
35,557
Traffic Marking
53,850
49,100
Pavement Patching
.105,110
96,288
Tarring Cracks
54,720
37,257
Drainage Structure
21,930
24,107
Street Lights and Traffic Signals
126,530'
105,687
Miscellaneous Maintenance
84,940
89,283
Snow and Ice Control
145,380
212,295
Weed Control
21,770
15,425
Leaf Removal
33,510
41,383
Tree Removal
46,820
38,597
Tree Planting
33,840
26,118
Railroad Station Maintenance
33.520
29,863
Total Expenditures
935,440
939,403
Excess (Deficiency) of Revenues
over Expenditures
(5,940)
18.444
Other Financing Sources (Uses)
Operating Transfers In (Out)
Commuter Parking Lot Fund
40,000
40,000
Replacement Fund
(63,000)
(63,000)
(23,000)
(23,000)
Excess (Deficiency) of Revenues and Other
Financing Sources over Expenditures and
Other Financing Uses
28 940)
(4,556)
Fund Balance
May 1
205,060
April 30
200 504
See accompanying Notes to the Financial Statements.
1989
Actual
233,835
180,000
278,530
20,765
9,208
3,905
42,172
6.718
775,133
129,876
30,324
39,548
86,050
49,335
24,937
89,468
97,398 -
108,166
19,002
22,998
27,960
12,906 .
27,961
765,929
9,204
30,000
(61,000)
_(31,000)
(21,796)
226,856
205.060
59
1
1
1
1
1
1
1
1
1
1
1
i
1
1
1
1
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
STREET AND BRIDGE FUND
SCHEDULE OF EXPENDITURES - BUDGET ANDACTUAL
FOR THE YEAR ENDED APRIL 30, 1990
Budget Actual
Highways and Streets
Public Works
Administration
Salaries
Overtime
Employee Benefits
Professional Services
Travel, Training and Dues
Printing and Advertising
Communications
Other
Motor Vehicle Maintenance
Miscellaneous
Supplies
Motor Vehicle Supplies
Apparel
Repairs and Maintenance
Contractual
Cleaning
Salaries
Overtime
Employee Benefits
Small Tools and Equipment
Contractual
Motor Vehicle Maintenance
Repairs and Maintenance
Equipment Rental
Motor Vehicle Supplies
Supplies
Traffic Marking
Salaries
Overtime
Part -Time
Employee Benefits
Motor Vehicle Maintenance
Repairs and Maintenance
Motor Vehicle Supplies
60
$ 44,410
43,970
3,900
4,192
5,450
6,839
500
2,200
1,736
4,600
3,635
6,100
4,892
48,600
54,617
2,500
3,181
2,200
3,792
3,000
5,628
1,500
1,428
1,800
1,268
1,500
167
1.200
3.098
129,460
138,443
20,790
16,098
1,200
1,473
3,570
2,171
500
113
3,700,
2,320
4,000
3,243
5,500
5,480
1,500
1,760
1,500
2,006
1.800
893
44.060
35.557
23,870,
22,721
320
791
2,730
2,704
4,130
2,913
1,000
556
800
1,072
$ 500
55
VILLAGE OF DEERFIELD, ILLINOIS.
STREET AND BRIDGE FUND
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED APRIL 30, 1990
Budeet
Highways and Streets (Cont.)
Public Works.(Cont.)
Traffic Marketing (Cont.)
Materials
Street Signs
Contractual
Pavement Patching
Salaries,
Overtime
Employee Benefits
Motor Vehicle Maintenance
Repairs and Maintenance
Supplies
Motor Vehicle Supplies
Aggregates
Materials
Equipment
Tarring Cracks
Salaries
Overtime
Part -Time
Employee Benefits
Motor Vehicle.Maintenance
Repairs and Maintenance
Motor. Vehicle Supplies
Aggregates
Materials.
Equipment Rental
Drainage Structures
Salaries
Overtime
Employee Benefits
Motor Vehicle Maintenance
Repairs and Maintenance
Motor Vehicle Supplies
Aggregates
Materials
61
$ 4,000
6,500
10,000
53,850
43,950
1,260
7,600
5,000
5,500
600
2,000
33,900
2,000
3.300
105,110
22,980
630
2,730
-3, 980
1,400
1,900
3,000
600
15,000
2.500
54,720
11,230
950
1,950
2,000
2,300
300
1,200
2.000
21,930
1
Actual
1,353 .
6,935
10,000
'
49,100
40,879
1,648
5,174
6,984
'
3 J38
814
'33,954
1,599
2,098
96,288
'
14,608
'
647
2,729
1,889
'
3,602 `
3;078
1,051
419
'
9,234
37,257
'
15,648
'
405
1,940
2,492
1,438
'
73
1,895
216
'
24,107
1
1
1
1 VILLAGE OF DEERFIELD,.ILLINOIS
STREET AND BRIDGE FUND
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED APRIL 30, 1990
Budget
Actual
Highways and Streets (Cont.)
Public Works (Cont.)
Street Lights and Traffic Signals
Salaries
$ 11,280
13,156
t
Overtime
1,200
4,376
Employee Benefits
1,950
1,729
Contractual
31,000
15,675
Utility Services
651400
58,148
Motor Vehicle Maintenance
1,500
1,076
Repairs and Maintenance
2,000
1,627
Equipment Rental
1,000
60
'
Motor Vehicle Supplies
800
1,070
Aggregates
400
167
Materials
10,000
8.603
126,530
105,687
Miscellaneous Maintenance
Salaries
10,000
2,784
'
Overtime
2,200
5.,396
Employee Benefits
1,740
1,370
Contractual
Motor Vehicle Maintenance
55,700
1,000
60,165
645
Repairs and Maintenance
3,000
5,744
Small Tools and Equipment
400
300
Miscellaneous
1,300
1,377
Motor Vehicle Supplies
600
496
Aggregates
2,000
4,560
Materials
5,000
6,356
Equipment Rental
2.000
90'
84,940
89.283
Snow and Ice Control
Salaries 24,620 21,940
Overtime 9,900 37,549
' Employee Benefits 4,260 2,711
Communications 1,800 485
Motor Vehicle Maintenance 7,000 19,430
Repairs and Maintenance 18,000 26,623
Equipment Rental 1,000
Supplies 2,500 1,790
Motor Vehicle Supplies 5,300 3,597
Salt $ 32,500 61,792
62
VILLAGE OF DEERFIELD, ILLINOIS
STREET AND BRIDGE FUND
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED APRIL 30, 1990
Budget
Actual
Highways and Streets (Cont.)
Public Works (Cont.)
Snow and Ice Control (Cont.)
Aggregates
$ 5,000 .
4,073
Materials
2,000
1,543
Equipment
9,000
9,448
Motor Vehicles
22.500
21.314
145,380
212,295
.Weed Control
Salaries
8,890
4,401
Overtime
110
458
Part -Time
2,730
2,726
Employee Benefits
1,540
652
Motor Vehicle Maintenance
1,000
1,405.
Repairs and Maintenance
3,500
4,730
Motor Vehicle Supplies
500
581
Materials
3,000
Equipment
500
472
21.770
15.425
Leaf Removal
Salaries 1,830 15,135
Overtime 10,000 4,709
Employee Benefits 330 1,775
Motor Vehicle Maintenance 1,500 1,954
Repairs and Maintenance 8,000 5,738
Motor Vehicle Supplies 500 776
Supplies 100 46
Motor Vehicles 11.250 11.250
33.510 41.383
Tree Removal
Salaries
14,230
13,173
Overtime
630
1,003.
Part -Time
2,460
3,829
Employee Benefits
4,300
1,729
Contractual
21,000
17,101
Motor Vehicle Maintenance
700
533
Repairs and Maintenance
1,000
659
Motor Vehicle Supplies
400
280
Materials
1,100
290
Equipment
500
Equipment Rental
500
46,820
38.597
63
VILLAGE OF DEERFIELD, ILLINOIS
'
STREET AND BRIDGE FUND
SCHEDULE OF EXPENDITURES - BUDGET AND
ACTUAL (CONT.)
FOR THE YEAR ENDED APRIL 30,
1990
Bum
Actual
Highways and Streets (Cont.)
'
Public Works; (Cont.)
Tree Planting
Salaries
$ 9,.990
6,149'
Overtime
.
420
.1,090
Employee: Benefits
1,730
'848
Contractual
20,000
16,955
Motor Vehicle Maintenance
500
245
Repairs and Maintenance
300
174
Motor Vehicle Supplies
400
287
Materials
500
33,840
370
26,118
Railroad Station Maintenance
Salaries
9,070
12,505
Overtime
1,000
291
Part -Time.
3,780
3,579
'
Employee Benefits
1,570:
1,745
Contractual.Services
3,300
.517
'
Repairs and Maintenance
Supplies
4,800
1,500
3,105
1,117
Aggregates.
60Q
Materials
7.900
`-7.004
33,520.
29,863
Total Expenditures
935 440
93
1
'
64
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,
1990
1990
1989
Budget
Actual
Actual
,
Revenues .
Taxes
Property Taxes
$490,000
401,945
335,923
'
Replacement Taxes
89000
7,462
8,416
Interest
10,000
3,992
13,425
Total Revenues
508,000.
413,399-.
357,764
Expenditures
Miscellaneous
Illinois Municipal Retirement
Payments - Employer
275,000.
288,342
418,510
FICA Payments.- Employer
215,000
207,398
490,000
495,740.
418,510
Excess (Deficiency) of Revenues
over Expenditures
18 000
(82,341)
(60,746)
'
Fund Balance
'.
May 1
(75,449)
1( 4,703)
April 30
157 790)
7( 5,449)
See accompanying Notes to the Financial
Statements.
'
65
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
VILLAGE OF DEERFIELD ILLINOIS FLND
BENEFIT ND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1990
1990 1989
Budget Actual Actual
Revenues
Interest
Miscellaneous
Other
Total Revenues - - -
Expenditures
General Government
Contractual $ 65,273 -
Excess (Deficiency) of Revenues
over Expenditures
Other Financing Sources
Operating Transfer In
Special Assessment Agency Fund 57,324 -
Excess of Revenues and Other
Financing Sources over Expenditures 57,324 -
Fund Balance
May 1 63,273 63,273
Residual Equity Transfer Out (120,597)
(57,324) -
April 30 - 63,273
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, 1990
Revenues
Intergovernmental
Allotments Earned
Interest
Total Revenues
Expenditures
Highways and Streets
Street Maintenance
Street Resurfacing and
Renovation Program
Total Expenditures
Excess of Revenues
over Expenditures
Operating Transfer In
General Fund
Excess of Revenues and Other
.Sources over Expenditures
Fund Balance
May 1
April 30
1990 1989
Budget Actual Actual
$305,000
330,823
303,551
40,000
46,800
35,084
345,000
377,623
338,635
190,000
190,600
180,000
61,000
58,854
76,578
251,000
248,854
256,578
94,000 128,769 82,057
6,213
94,000 128,769 88,270
490,120 401,850
618,889 490,120
See accompanying Notes to the Financial Statements.
67
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
TRANSPORTATION FUND
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE — BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1990
1990
Budget Actual
Revenues
Intergovernmental
Grant $ 4,500 3,507
Expenditures
Miscellaneous
Transportation
Excess (Deficiency) of Revenues
over Expenditures
Other Financing Sources
Operating Transfers In
General Fund
Excess (Deficiency) of Revenues and
Other Financing Sources over
.Expenditures
Fund Balance
May 1
April 30
6,500 5,844
(2,000) (2,337)
2,000 2,000
.(337)
See accompanying Notes to the Financial Statements.
68
6,431
6,094
1989
Actual
3,670
6,239
(2,569)
2,000
(569)
7,000
6,431
VILLAGE OF DEERFIELD, ILLINOIS
ENHANCED 911 FUND
i
STATEMENT OF REVENUES,. EXPENDITURES,
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30,
1990
{
ii
1990
1989
Budget
Actual
Actual
Revenues
.
Charges for Services
Other Charges $ 7.8,000
76,299
,
Interest
272
Total Revenues 78,000
76,571
Expenditures
Public Safety
Contractual 13,000
3,251
Repairs and Maintenance 9,110
23
Equipment 104,000
60,455
Improvements Other than Buildings 22;400
37,740
Miscellaneous 2,000
Total Expenditures 150,510
101,469
-
Excess (Deficiency) of Revenues
( y)
over Expenditures 72 510)
(24,898)
-
Fund Balance
May 1
-
-
April 30
24 898)
-
See accompanying Notes to the Financial Statements.
69
1
t
1
1
1
1
1
1
1
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
DEBT SERVICE FUND
BALANCE SHEET
APRIL 30, 1990
ASSETS
Cash and Investments
Receivables
Property Taxes
Accrued Interest
Due from Other Funds
Total Assets
LIABILITIES AND FUND BALANCE
Liabilities
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.
70
1990
$1,253,434
1,376,350
12,204
2,641,988
63,129
1,515,935
1,579,064
1,062,924
52,641,988
1989
1,182,676
l., 314, 290
22,713
5,371
2,525,050
20,000
1,431,063
1,451,063
1,073,987
2,525,050
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, 1990
Revenues
Taxes
Property Taxes
.Replacement Taxes
Interest
Total Revenues
Expenditures
Debt Service
Principal Retirement
Interest
Fiscal Charges
Total Expenditures
Excess (Deficiency) of Revenues
over Expenditures
Other Financing Sources
Operating Transfers In
Tax Incremental Finance District
#1 Fund
Excess (Deficiency) of Revenues and
Other Financing Sources over
Expenditures
Fund Balance
May 1
Residual Equity Transfer
April 30
1990 1989
Budget Actual Actual
$1,585,575 1,503,082 1,110,004
45,000 51,934 58,573
75,000 103,637 90,489
1,705,575 1,658,653 1,259,066
700,000
1,122,600
20,000
1,842,600
700,000
1,057,344
2,966
1,760,310
600,000
866,226
2,737
1,468,963
(137,025) (101,657) (209,897)
80,025 84,375 84,280
57 000) (17,282) (125,617)
See accompanying Notes to the Financial Statements.
71
1,073,987
6,219
1,080,206
1,062,924
1,199,604
1,199,604
1,073,987
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
DEBT SERVICE FUND
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1990
Debt Service
Sewerage Improvement Bond Series of 1973
Principal
Interest
Sewerage Treatment Facility Bond Series
of 1973
Principal
Interest
Corporate Purpose Bond Series of 1982
Principal
Interest
Corporate Purpose Bond Series 1982-A
Principal
Interest
Corporate Purpose Bond Series of 1986
Principal
Interest
General Obligation Bond Series of 1988
Principal
Interest
Fiscal Charges
Total Expenditures
72
Budget
$1,842,600
Actual
75,000
6,250
;125,000
13,750
50,000
34,275
50,000
20,750
300,000
735,613
100,000
246,706
2.966
1.760.310
CAPITAL PROJECTS. FUNDS
Land Acquisition Fund
Established in 1114 to acquire land in the area now known as The Brickyards. The
funds remaining are held against the potential need of reimbursing the
Illinois Department of Transportation in the event a retention pond is not
constructed.
Capital Projects Fund
Established in 1983 to provide funds for the study and review of the Village of
Deerfield Storm and Sanitary Sewer System.
Tax Incremental Finance District 1 Fund
Established in 1982 to provide funds for land acquisition and improvements to the
Village of Deerfield Tax Increment Financing District.
Tax Incremental Finance District 2 Fund
Established in 1987 to provide funds for land acquisition and improvements to the
Village of Deerfield Tax Increment Financing District.
Capital Improvement Series A Fund
Established in December, 1984, to provide funds for Storm Sewer Improvements,
Sanitary Improvements and Street Rehabilitation Program.
Capital Improvements Series B Fund
Established in December, 1985, to provide funds for major renovation to the Storm
and Sanitary Sewers and a Street Rehabilitation Program.
Brickyards Development Fund
Established for the purpose of providing improvements to the area known as The
Brickyards property. This includes construction of Culverts, Creek
Realignment, and the extension of Pfingsten Road, which includes a bridge at
Lake -Cook and an overpass at Kates Road.
Vehicle Replacement Fund
Established to account for the funds annually set aside for the eventual
replacement of.certain vehicles.
1
1
11
1
IDEBT SERVICE FUN®
DEBT SERVICE FUND
Debt Fund
Debt Service Fund - To account for the, accumulation of resources for the payment
of General Long -Term Debt.
Fund Descriptions (Cont.)
Capital Improvements Series 1987 Fund
Established in December, 1987 to provide funds for the maintenance and repairs
of the Village's streets.
Brickyard Park Fund
�. Established in 1988 to account for the construction and engineering of a park for
Deerfield Park District located within the area known as The Brickyards.
Capital Improvements Series 1988 Fund
Established in 1988 to provide funds for the acquisition of right-of-way for the
Access Avenue Project: traffic signal modification; sanitary sewer and street
rehabilitation; the installment of a new 16 inch water main, and storm
drainage improvements.
11
11
i
■
CAPITAL PROJECT FUNDS
VILLAGE OF DEERFIELD, ILLINOIS
CAPITAL PROJECTS FUNDS
COMBINING BALANCE SHEET
APRIL 30, 1990
(See Following Page)
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PROPRIETARY FUND TYPES
P�
I
ENTERPRISE FUNDS
ENTERPRISE FUNDS
Water Fund
Water Fund - To account for all activity necessary to provide water to the
residents of the Village of Deerfield including administration, operation,
maintenance, financing and related Debt Service.
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.
Refuse Fund
Refuse Fund - To account for all revenues and expenses necessary to provide the
residents of the Village of Deerfield with refuse service.
Commuter Parking Lot Fund
' Commuter Parking Lot Fund - To account for all activity necessary to construct,
operate, and maintain the commuter parking facilities within the Village.
ASSETS
Current Assets
Cash and Investments
Receivables
Property Taxes
Accrued Interest
Accounts
Other
Due from Other Funds
Inventories
Investment in Joint
Venture - Help
Restricted Assets
Cash and Investments
Fixed Assets (Het of
Accumulated Depreciation)
Total Assets
LIABILITIES AND FUND EQUITY
Current Liabilities
' Cash 'Overdrafts
Accounts Payable
Accrued Payroll
Compensated Absences Payable
Other Payables
Due to Other Funds'
Total Liabilities
Fund Equity
Contributed Capital,
Retained Earnings -
Reserved - Restricted Accounts
Unreserved
Total Retained Earnings
Total Fund Equity
' Total Liabilities and
Fund Equity
See accompanying Notes to the Fin
VILLAGE OF DEERFIELD, ILLINOIS,
ENTERPRISE FUNDS
COMBINING BALANCE SHEET
APRIL 30, 1990
Commuter
Parking
Totals
Water
Sewerage
Refuse
Lot
1990
1989
$1,513,915
1,282,583
313,268
3,109,766
2,671,199%
550,354
550,354
500,538
12,695
12,695
13,598
358,953
259,689
122,582
741,224
775,970
161,467
7,541
2,526
171,534
39,474 .
5,441
1,617
7,058
2,480
41,268
6,737
48,005
46,635
11,909
29,391
41,300
24,443
2,087,512
1,604,077
677,079
313,268
4,681,936
4,074,337
-
-
88,708
2,424,586
6,452,346
-
355,962
9,232,894
9,375,772
4 5�98
8, 056 , 423
67�7 907®9
669�230
13
9,�14 �83®0
13 ,
538 , 817
46,819
46,819
112,735
66,516
110,251
916
290,418
268,490
10,522
10,522
11,717
16,138
50,989
67,127.
55,503
5,322
404
5,.726
656
19,240
19,240
5,445
134,195
128,027
176,310
1,320
439,852
341,811
1,867,529
6,141,604
325,186
8,334.319
8,526,082
.'
88,708
2,510,374
1,786,792
500,769
342,724
5,140,659
4,582,216
2,510,374
1,786,792
500,769
342,724
5,140,659
4,670,924
4,377,903
7,928,396
500,769
667,910
13,474,978
13,197,006
$4,512,098
8,056.423
6776079
669,230
13,914,830
13,538,817
ancial Statements.
75
VILLAGE OF DEERFIELD, ILLINOIS
ENTERPRISE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN RETAINED EARNINGS - UNRESERVED
FOR THE YEAR ENDED APRIL 30, 1990
Commuter .
Parking Totals
Water Sewerage Refuse Lot 1990 1989
Operating Revenues
Charges for Services
Water Sales
Sewer Charges
Refuse Billings .
Parking Lot Fees
Surcharges
Miscellaneous
Total Operating Revenues
Operating Expenses Excluding
Depreciation
Administration
Operations
Total Operating Expenses
Excluding Depreciation
Operating Income (Loss)
before Depreciation
Depreciation
Operating Income (Loss)
Nonoperating Revenues (Expenses)
$2,134,436
1,110,646
597,100
82,068
40,383 46,683 4,350
2:174,819 1,239,397 601,450
169,699
165,435
15,018
1,719,994
996,434
1,259,882
1,889,693
1,161,869
1.274,900
285,126
77,528
(673,450)
104,125
241,234
181,001
(163,706)
(673,450)
Interest Income
104,880
90,647
4,937
Property Taxes
621,687
Interest Expense
104,880
90,647.
626.624
Net Income (Loss)
before Operating Transfers
285,881
(73,059)
(46,826)
Operating Transfers (Out)
(33,000)
(30,000)
-
Net Income (Loss)
252,881
(103,059)
(46,826)
Other Changes in Retained Earnings -
Unreserved
Depreciation that Reduces
Contributed Capital
45,929
118,808
Transfer from Restricted Accounts
88,708
134,637
118,808
-
Net Increase in Retained Earnings -
Unreserved
387,518
15,749
(46,826)
Retained Earnings - Unreserved
May 1
1,972,856
1,771,043
547,595
Prior Period Adjustment
150,000
Adjusted Balance
2,122,856
1,771,043
547,595
April 30
S2,510,374
1 78
500,769
See accompanying Notes to the Financial Statements.
2,134,436
2,239,905
1,.110,646
1,047,364
597,100
526,758
125,398
125,398
117,207
82,068
88,885
91,416
136,388
125,398
4,141,064
4,156,507
350,152
361,473
29,725
4,006,035
3,693,865
29,725
4,356,187
4,055,338
95,673
(215,123)
101,169
30,698
(376,057)
378,631 .
64,975
(591,180)_
(277,462)
200,464
189,685
621,687
541,018.
(1,913)
-
822,151
728,790
64,975
230,971-
451,328
(40,000)
(103,000)
(91,000)
24,975
127,971
360,328
27,027
191,764
194,373
88,708
27,027
280,472
194,373
52,002
408,443
554,701
290,722
4,582,216
4,027,515
150,000
290,722
4,732,216
4,027,515
342,724
5,140,659
4,582,216
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VILLAGE OF DEERFIELD, ILLINOIS
WATER FUND
BALANCE SHEET
APRIL 30., 1990
1990 1989
ASSETS
Current Assets
Cash and Investments
Receivables
Accrued Interest
Accounts - Billed
- Unbilled
Other
Inventories
Investment in Joint Venture - HELP
Restricted Assets
Cash and. Investments
Fixed Assets
Cost
Accumulated Depreciation
Total Assets
LIABILITIES AND FUND EQUITY
Current Liabilities
Accounts Payable
Compensated Absences Payable
Other Payables.
Fund Equity
Contributed Capital
Retained Earnings
Reserved - Restricted Accounts
Unreserved
Total Retained Earnings
Total Fund Equity
Total Liabilities and Fund Equity
See accompanying Notes to the Financial Statements.
78
$1,513,915 1,226,591
3,824
80,146 119,722
278,807 286,241
161,467 19,653
41,268 39,907
11.909 7.061
2,087,512 1,702,999
88,708
3,388,664 3,159,154
(964,078) (859:953)
2,424,586. 2,299,201
4,512,098 4,090,908
112,735
97,953
16,138
14,295
5,322
3,638
134,195
115,886_
1,867,529
1,913,458
88,708
2,510,374
1,972,856
2,510,374
2,061,564
4,377,903
3,975,022
$4,512,098
4,090,908
VILLAGE OF DEERFIELD, ILLINOIS.
WATER FUND
STATEMENT OF CHANGES IN RETAINED EARNINGS - RESERVED - RESTRICTED ACCOUNTS
FOR THE YEAR.ENDED APRIL 30, 1990
Increases
Decreases
Transfer to Operations
and Maintenance
Account
Net Increase (Decrease)
Account Balances
May 1
April 30
Principal
and
Interest Depreciation
Bond
Reserve
$(21.708) (15,000) (52,000)
(21,708) (15,000) (52,000)
$ 21.708 15,000 52,000.
See accompanying Notes to the Financial Statements.
79
Totals
8�,708)
(88,708)
88.708.
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, 1990
1990
1989
Budget
Actual
Actual
Operating Revenues
Charges for Services
Water Sales
$1,925,000
2,134,436
2,239,905
Miscellaneous
Permits and Fees
20,000
14,316
56,713
Penalties
25,000
20,457
22,672
Other
5,610
Total Operating Revenues
1,970,000
2,174,819
2,319,220
Operating Expenses Excluding Depreciation
Administration
170,470
169,699
154,316
Operations
Distribution
1,506,600
1,428,462
1,540,757
Maintenance - Mains and Fire
Hydrants
174,570
237,016•
162,391
Maintenance - Meters
62,450
54,516
69,446
Total OperatingExpenses
Excluding Depreciation
1,914,090
1.889.693.
1,926,910
Operating Income
before Depreciation
55,916
285,126
392,380
Depreciation
-
104,125
104,219
Operating Income
55,910,
.181,001
288,161
Nonopereting Revenues (Expenses)
Interest Income
65,000
104,880
71,476
Interest Expense - Revenue Bonds
(1,000)
-
(1.913)
64,000
104,880
69,563
Net Income before Operating Transfers.
119,910
285,881
357;724
Operating Transfers (Out)
Replacement Fund
(33,000)
(33.000)
(30,000)
Net Income
86,910
252.881
327,724
Other Changes in -Retained Earnings - Unreserved
Depreciation that Reduces Contributed Capital
45,929
48,389
Transfer from Restricted Accounts
88,708
134,637
48,389
Net Increase in Retained Earnings
Unreserved 387,518. 376.113
Retained Earnings - Unreserved
May 1 1,972,856 1,596,743
Prior Period Adjustment 150,000
Adjusted Balance 2,122,856 1.596.743
April 30 2 510.374 1,972,856
See accompanying Notes to the Financial Statement.
80
VILLAGE OF DEERFIELD, ILLINOIS
WATER FUND
SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1990
Budget
Actual
Administration
Salaries
$ 67,780
62,697
Employee Benefits
8,240
7,833
Professional Services
23,200
19,800
Travel, Training and Dues
1,100
1,007
Printing and. Advertising
700
1,767
Communications
10,050
9,862
Contractual Services
1,000
2,606
Insurance
36,900
43,088
Motor Vehicle Maintenance
1,200
1,008
Miscellaneous
1,000
1,403
Supplies
1,000
1,589
Motor Vehicle Supplies
700
329
Occupancy
15,000
15,000
Apparel
1,800
1,307
Bond Principal
45,000
Repairs and Maintenance
800
403
Total
215,470
169,699
Less Nonoperating Items
Bond Principal
45,000
-
Total Administration
170,470
169,699
Operations
Distribution
Salaries
79,130
46,760
Overtime
6,300
7,546
Employee Benefits
12,820
5,656
,Professional Services
3,000
1,525
Printing and Advertising
1,100
Contractual Services
8,600
7,388
Utility Services
85,500
69,862
Motor Vehicle Maintenance
2,150
2,604
Repairs and Maintenance
3,000
1,216
Miscellaneous
1,300
959
Purchase of Water
1,300,000
1,280,635
Supplies
$ 500
1,157
81
VILLAGE OF DEERFIELD, ILLINOIS
WATER FUND
SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED APRIL 30, 1990
Budget Actual
Operations (Cont.)
Distribution (Cont.)
Motor. Vehicle. Supplies $ 1,000 1,039
Chlorine 1,000
Materials 1,200 2,115
Total Distribution 1,506,600 1,428,462
Maintenance - Main and Fire Hydrants
Salaries
37,630
52,897
Overtime
12,100
22,131
Part -Time
22,400
19,129
Employee Benefits
6,940.
7,017
Contractual Services
40,900
46,205
Motor Vehicle Maintenance
5,000
8,910
Repairs and Maintenance
10,500
8,262
Equipment Rental
1,000
Miscellaneous
2,900
36
Motor Vehicle Supplies
1,900
2,499
Small Tools and Equipment
300
196
Aggregates
7,000
11,235
Materials
26,000
42,941
Equipment
6,100
4,522
.Improvements - Not Buildings
187,000
205,549
Motor Vehicles
11,250
11,250
Total
378,920
442,779
Less Nonoperating Items
Fixed Assets Capitalized
204,350
205,763
Total Maintenance - Main and Fire Hydrants
S 174,570
237,016
82
VILLAGE OF DEERFIELD, ILLINOIS
WATER FUND
SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED APRIL 30, 1990
Operations (Cont.)
Maintenance.- Meters
Salaries
Overtime
Part -Time
Employee Benefits
Professional Services
Travel, Training and Dues
Printing and Advertising
Contractual Services
Motor Vehicle Maintenance
Repairs and Maintenance
,Miscellaneous
Supplies
Motor Vehicle Supplies
Materials
Small Tools and Equipment
Equipment
Total
Less Nonoperating Items
Fixed Assets Capitalized
Total Maintenance - Meters
Total Expenses
Budget Actual
$ 37,830
42,369
840
519
950
840
6,980
5,577
3,000
317
600
1,000
317
2,200
795
2,700
2,.000
1,400
63
300
25
350
12
1,000
890
3,000
248
300
14
16,500
24,277
78,950 78,263
16,500 23,747
62.450 54,516
51,914.090 1,889,693
991
VILLAGE OF DEERFIELD, ILLINOIS
WATER FUND
SCHEDULE OF FIXED ASSETS AND DEPRECIATION
FOR THE YEAR ENDED APRIL 30, 1990
Assets
Balances Balances
May Additions Retirements April 30
Water System $2,825,273 189,992 3,015,265
Equipment and Auto-
motive 333,881 39,518 373,399
3,159,154 229,510 - 3,388.664
Accumulated Depreciation
Balances
Balances
May 1
Additions Retirements
April'30
Water System
626,738
74,299
-701,037
Equipment and Auto-
motive
233,215
29,826
263,041
859 953
104,125 -
964,078
Net Asset Value
2,424,586
84
�J
t
1
1
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
SEWERAGE FUND
BALANCE SHEET
APRIL 30, 1990
ASSETS
Current Assets
1990
Cash and Investments
$ 1,282,583
Receivables
Accrued Interest
12,695
Accounts - Billed
78,528
- Unbilled
181,161
Other
7,541
Due From Other Funds
5,441
Inventories
6,737
Investment in Joint Venture - HELP
29,391
1,604.077
Fixed Assets
Cost 8,593,124
Accumulated Depreciation (2,140,778)
6,452,346
Total Assets 8,056,423
LIABILITIES AND FUND EQUITY
Current Liabilities
Accounts Payable .66,516
Accrued Payroll 10,522
Compensated Absences Payable 50,989
Due to Other Funds
Total Liabilities 128,027
Fund Equity
Contributed Capital 6,141,604
Retained Earnings - Unreserved 1,786,792
Total Fund Equity 7,928,396
Total Liabilities and Fund Equity S 8,056,423
See accompanying Notes to the Financial Statements.
85
1989
1,171,046
9,774
73,927
176,264
16,839
6,.728
17.382
1,471,960
8,589,455
(1,899,544)
6,689,911
8,1613871
75,685
8,079
41,208
5.445
130,417
6,260,411
1,771,043
8,031,454
8,161,871
VILLAGE OF DEERFIELD, ILLINOIS
SEWERAGE FUND
STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN RETAINED EARNINGS UNRESERVED - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1990
Operating Revenues
Charges for Services
Sewer Charges
Surcharges - Construction
Surcharges - Sara Lee
Miscellaneous
Permits and. Fees
Penalties
Other
Total Operating Revenues
Operating Expenses Excluding Depreciation
Administration
Operations
Treatment Plant
Cleaning and Maintenance
Construction
Total Operating Expenses
Excluding Depreciation
Operating Income (Loss)
before Depreciation
Depreciation
Operating Income (Loss)
Nonoperating Revenues
Interest Income
Net Income (Loss) before Operating
Transfers
Operating Transfers (Out)
Replacement Fund
Net Income (Loss)
Other Changes in Retained Earnings -
Unreserved Depreciation that
Reduces Contributed Capital
Net Increase in Retained Earnings -
Unreserved
Retained Earnings - Unreserved
May 1
April 30
See accompanying Notes to the Financial Statements.
1990
Budget
Actual.
$1,150,000
1,110,646.
50,000
47,370
34,698
20,000
7,830
11,000
11,378.
1,000.
27,475
1,232,000
1,239,397
194,430
165,435
803,920
780,599
125,510
96,719
144.180
119.116
1,268,040 1,161,869
(36,040) 77,528
68.500 241.234
(104,540) (163,706)
70,000 90,647
(34,540) (73,059)
(30,000) (30.000)
S (64,540) (103,059)
118,808
15,749
1,771,043
1,786,792
1989
Actual
1,047,364
46,964
41,921
45,260
10,606
1.137
1,193,252
191,986
629,158
98,674
97,667
1.017.485
175,767
243.714'
(67,947)
69,032
1,085,
(31,000)
(29,915)
118,957
89,042
1,682,001
1,771,043
1
1
r]
1
r
VILLAGE OF DEERFIELD, ILLINOIS
SEWERAGE FUND
SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1990
Budget
Administration
Salaries
$ 67,780
Overtime
530
Employee Benefits
8,240
Professional Services
200
Travel, Training and Dues
550
Printing and Advertising
100
Communications
4,430
Insurance
90,300
Motor Vehicle Maintenance
900
Repairs and Maintenance
1,300
Miscellaneous
700
Supplies
700
Motor Vehicle Supplies
1,000
Occupancy
15,000
Apparel
1,500
Contractual Services
1.200
Total Administration 194,430
Operations
Treatment Plant
Salaries
282,260
.Overtime
7,880
Part -Time
4,300
Employee Benefits
44,830
Professional Services
6,000
Travel, Training and Dues
1,550
Printing and Advertising
1,000
Communications
8,100
Contractual Services
34,500
Utility Services
209,300
Motor Vehicle Maintenance
3,000
Repairs and Maintenance
159,000
Equipment Rental
1,000
Supplies
12,900
Motor Vehicle Supplies
7,000
Chlorine
8,000
Aggregates
2,800
Materials
5,000
Street Signs
$ 300
Actual
60,347
945
7,738
585
118
3,814
70,074
759
30
1,583
1,780
734
15,000
1,128
800
165,435
294,849
12,109
4,281
37,934
1,859
109
8,785
1,000
214,127
4,189
151,254
800
13,360
3,127
12,371
3,645
5,754
87
VILLAGE OF DEERFIELD, ILLINOIS
SEWERAGE FUND
SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1990
Budget Actual
Operations (Cont.)
Treatment Plant (Cont.)
Small Tools and Equipment $ 500 1,094
Apparel 1,700 1,393
Equipment 34,700 6,065
Miscellaneous 3,000 4,065
Total 838,620 782,170
Less Nonoperating Items
Fixed Assets Capitalized 34,700 1,571
Total Treatment Plant 803,920 780.599
Cleaning and Maintenance
Salaries
54,600
52,268
Overtime
4,620
4,047
Part -Time
2,520
2,516
Employee Benefits
10,070
6,801
Contractual Services
10,000
5,272
Motor Vehicle Maintenance
4,000
4,337
Repairs and Maintenance
5,000
4,891
Equipment Rental
3,000
1 255
.Miscellaneous
2,000
1,055
Supplies
20,100
7,563
Motor Vehicle Supplies
1,500
1,134
Aggregates
1,100
2,086
Materials
7,000
4,204
Equipment
6,300
2,098
Small Tools and Equipment
300
290
Total
132,110
98,817
Less Nonoperating Items
Fixed Assets Capitalized
6,600
2,098
Total Cleaning and Maintenance
$125,510
96,719
VILLAGE OF D.EERFIELD, ILLINOIS
SEWERAGE FUND
SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL (CONT.)
FOR THE YEAR ENDED APRIL 30, 1990
Operations (Cont.)
Construction
Salaries
Overtime
Part -Time
Employee Benefits
Contractual Services
Motor Vehicle Maintenance
Repairs and Maintenance
Equipment Rental
Supplies
Motor Vehicle Supplies
Aggregates .
Materials
Small Tools and Equipment
Total Construction
Total Expenses
1
1
1
1
1
1
1
1
99
Budget Actual
$ 82,760
71,748
2,200
359
1,260
.1,226
15,260
8,781
5,000
3,750
5,500
6,151
7,500
3,149
1,000
2,000
97
2,000
2,289
5,500
4,521
14,000
17,045
200
144.180.
119.116
$1,268.040 1,161,869
VILLAGE OF DEERFIELD, ILLINOIS
SEWERAGE FUND
SCHEDULE OF FIXED ASSETS AND DEPRECIATION
FOR THE YEAR ENDED APRIL 30, 1990
Assets
Balances Balances
Ma,Y 1 Additions Retirements April 30
Sewer System $8,343,360 8,343,360
Equipment and Auto-
motive 246,095 3,669 249,764
8,589,455 3.669 - 8,593,124
Accumulated Depreciation
Balances Balances
May 1 Additions Retirements AARril 30.
Sewer System and Plant 1,709,229 216,330 1,925,559
Equipment and Auto-
motive 190,315 24,904 215,219
Net Asset Value
$1,8990 241,234
- 2,140,778
6,452,346
90
VILLAGE OF DEERFIELD, ILLINOIS
REFUSE FUND
BALANCE SHEET
APRIL 30, 1990
ASSETS
1990
Current Assets
Cash and Investments
Receivables
Property Taxes $550,354
Accounts - Billed 26,395
- Unbilled 96,187
Other 2,526
Due from Other Funds 1.617
Total Assets 677,079
LIABILITIES AND FUND EOUITY
Current Liabilities
Cash Overdrafts 46,819
Accounts Payable 110,251
Due to Other Funds 19,240
Total Liabilities 176,310
Fund Equity
Retained Earnings - Unreserved 500,769
Total Liabilities and Fund Equity 677,079
See accompanying Notes to the Financial Statements.
91
1989
16,044
500,538
28,337
91,479
2,982
2.480
641,860
94,265
94,265
547,595
641,860
VILLAGE OF DEERFIELD, ILLINOIS
REFUSE FUND
STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN RETAINED EARNINGS - UNRESERVED - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1990
1990
1989
Budget
Actual
Actual
Operating Revenues
Charges for Services
. Refuse Billing
$ 612,000
597,100
526,758
Miscellaneous
4,350
Total Operating Revenues
612,000
601.450
526,758
Operating Expenses
Administration
16,350
15,018
15,171
Operations
Contractual Services
1,180,000
1,259,882
1,055,989
Total Operating Expenses
1,196,350
1,274,900
1,071,160
Operating Income (Loss)
(584,350)
_(673,450)
(544,402)
Nonoperating Revenues (Expenses)
Interest Income
15,000
4,937
49,177
Property Taxes
-545,000
621,687
541,018
560,000
626.624
590,195
Net Income (Loss)
S (24,350)
(46,826)
45,793
Retained Earnings - Unreserved .
May 1
547,595
501,802
April 30
500,769
547,595
See accompanying Notes to the Financial Statements.
92
1
1
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VILLAGE OF DEERFIELD, ILLINOIS
COMMUTER PARKING LOT FUND
BALANCE SHEET
APRIL 30, 1990
ASSETS
Current Assets
Cash and Investments
Fixed Assets
Cost
Accumulated Depreciation
Total Assets
LIABILITIES AND FUND EQUITY
Current Liabilities
Accounts Payable
Other Payables
Total Liabilities
Fund Equity
Contributed Capital
Retained Earnings - Unreserved
.Total Fund Equity
Total Liabilities and Fund Equity
See accompanying Notes to the Financial Statements.
93
1990 1989
$ 313,268 257,518
691,458 691,458
(335,496) (304,798)
355,962 386,660
669,230 644,178
916 587
404 656
1,320 1,243
325,186 .352,213
342,724 290,722
667,910 642,935
$ 669,230 644,178
VILLAGE OF DEERFIELD, ILLINOIS
COMMUTER PARKING LOT FUND
STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN RETAINED EARNINGS —UNRESERVED - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1990
Operating Revenues
Parking Lot Fees
Operating Expenses Excluding
Depreciation
Operations
Operating Income before
Depreciation
Depreciation
Operating Income before
Operating Transfers
Operating Transfers (Out)
Street and Bridge Fund
Net Income
Other Changes in Retained Earnings -
Unreserved
.Depreciation that Reduces
Contributed Capital
Net Increase in Retained Earnings -
Unreserved
Retained Earnings - Unreserved
May 1
April 30
1990 1989
Budget Actual Actual
$130,000 125,398 117,207
39,440
29.725
39,783
90,560
95,673
77,424
30,698
30,698
90,560
64,975
46,726
(40,000)
(40,000)
(30,000)
50,560
24,975
16,726
See accompanying Notes to the Financial Statements.
94
27,027 27,027
52,002 43,753
290,722 246,969
342,724 290,722
1
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VILLAGE OF DEERFIELD, ILLINOIS..
COMMUTER PARKING LOT FUND
SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1990
Operations
Parking Lots - Village and Federal Funds
Salaries
Benefits
Insurance
Utility Service
Repairs and Maintenance
Supplies
Aggregates
Equipment
Property Rentals
Materials
Contractual
Total
Less Nonoperating Items
Fixed Assets Capitalized
Total Parking Lots - Village and
Federal Funds
Parking Lots - Village Construction
Salaries
Contractual
Benefits
Insurance
Utility Services
Repairs and Maintenance
Supplies
Aggregates
Materials
Equipment
Total Parking Lots - Village Construction
Total Operating Expenses
95
Budget
$4,200
600
40
2,300
2,500
500
500
500
7,500
800
2.500
21,940
500
21.440
4,300
2,500
710
340
6,800
1,000
500
250
1,500
100
18.000
39 440
Actual
4,319
660
269
4,133
65
322
7,440
45
17,253
17.253
4,401
748
333
6,332
368
245
45
12.472
29.725
VILLAGE OF DEERFIELD, ILLINOIS
COMMUTER PARKING LOT FUND
SCHEDULE OF FIXED ASSETS AND DEPRECIATION
FOR THE YEAR ENDED APRIL 30, 1990
Assets
Balances Balances
May 1 Additions Retirements April 30
Land $ 77,500 77,500
Parking Lot 613,958 613,958
691,458 - 691,458
Accumulated Depreciation
Balances Balances
May 1 Additions Retirements. April 30
Parking Lot 304,798 30,698 335,496
Net Asset Value
355.962
96
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INTERNAL SERVICE FUNDS
Garage Fund
Garage Fund - To account for all activity necessary to maintain the efficient and
safe operation of Village vehicles and equipment. The Garage is operated and
maintained by the Village of Deerfield and the various departments are billed
according to the services rendered.
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VILLAGE OF DEERFIELD, ILLINOIS
GARAGE FUND
BALANCE SHEET
APRIL 30, 1990
ASSETS
Receivables - Accounts
Inventories
Total Assets
LIABILITIES AND FUND EQUITY
Liabilities
Cash Overdrafts
Accounts Payable
Compensated Absences Payable
Other Payables
Total Liabilities
Fund Equity
Retained Earnings Unreserved
Total Liabilities and Fund Equity
See accompanying Notes to the Financial Statements.
97
1990
$ 255
43.810
4®
89,227
6,684
13,069
1.605
110,585
(66,520)
44 065
1989
334
36.750
37,084
67,658
2,470
10,656
1.356
82,140
(45,056)
37.084
VILLAGE.OF DEERFIELD, ILLINOIS
GARAGE FUND
STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN RETAINED EARNINGS - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1990
Operating Revenues
Charges for Services
. Billings
Operating Expenses
Operations
Net Income (Loss) before Operating
Transfers
Operating Transfers (Out)
Replacement Fund
Net Income (Loss)
Retained Earnings
May 1
April 30
1990
Budget Actual
$169,200 176,262
177,520 197,726
(8,320) (21,464)
(8,320) (21,464)
See accompanying Notes to the Financial Statements.
98
4�)
(66,520)
1989
Actual
154,680
165,934
(11,254)
(500)
(11,754)
3�,302)
4( 5,056)
VILLAGE OF DEERFIELD, ILLINOIS
GARAGE FUND
STATEMENT OF CHANGES IN FINANCIAL POSITION
FOR THE YEAR ENDED APRIL 30, 1990
Cash Was Provided By
Decrease in Current Assets
Increase in Current Liabilities
Cash Was Used To
Fund Operations
Net Loss
Increase in Current Assets
Net Increase (Decrease)
Cash and Investments
May 1
April 30
See accompanying Notes to the Financial Statements.
99
1990 1989
11,300
$ 6.876 64
6.876 11.364
21,464 11,754
6.981
28.445 11.754
(21,569) (390)
(67,658) (67.268)
89 227) 67 658)
VILLAGE OF DEERFIELD, ILLINOIS
GARAGE FUND
SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1990
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
$ 74,500
79,260
5,500
13,812
10,770
10,058
500
413
700
187
400
51
6,800
.69545
200
497
50
100
49
1,900
1,676
5,000
1,453.
56,400
72,486
800
395
9,200
6,747
2,600
2,317
600
321
1.500
1.459
177 520 197,726
100
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FIDUCIARY FUND TYPES
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TRUST AND AGENCY FUNS
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TRUST AND AGENCY FUNDS
Expendable Trust Fund
Corporate. Purpose Bond Series of 1987 Redemption Fund - to account for
investments held in escrow to pay future.principal and interest requirements
on the Corporate Purpose Bond Series of 1987.
Pension Trust Fund
Police Pension Fund - to account for the accumulation of resources to pay pension
costs. Resources are contributed by police force members at rates fixed by
state statutes and by the government through an annual property tax levy.
Agency Fund
Deposit.Fund - to account for monies on deposit with the village which are being
held ona temporary basis.
Deferred Compensation Plan Fund - to account for salary deductions held by the
government for certain employees. The deferred compensation is available to
employees upon termination or retirement.
Special Assessment Fund - to account for the collection of assessments levied to
retire special assessments..for which the Village has no obligation.
Deerfield Cemetery Association Fund_- to account for the monies on deposit with
the Village which are being held for the Deerfield Cemetery.Association.
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VILLAGE OF DEERFIELD, ILLINOIS
EXPENDABLE TRUST FUND
CORPORATE PURPOSE BOND SERIES OF 1987
STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
FOR THE YEAR ENDED APRIL 30, 1990
Revenues
Interest
Expenditures
Interest
Excess of Revenues over
Expenditures
Fund Balance
May 1
April 30
See accompanying Notes to the Financial Statements.
102
$843,000
$843,000
i
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VILLAGE OF DEERFIELD, ILLINOIS
TRUST AND AGENCY FUNDS:
POLICE PENSION FUND
STATEMENT OF REVENUES,'EXPENSES,
AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL
FOR THE YEAR ENDED APRIL 30, 1990
Operating Revenues
Taxes
Property Taxes
Replacement Taxes
Contributions
Employee Contributions.
Interest
Total Revenues
Operating Expenses
Benefits and Refunds
Pension Payments
Separation Refunds
Miscellaneous
Filing Fee
Total Operating Expenses
Net Income
Fund Balances
May 1
April 30
1990.
Budget Actual
$150,000 154,598
6,000 5,863
115,000 127,777
550,000 562,558
821,000 850,796
188,000 117,720
20,000
1,000 568
209;000 118,288
612 000 732,508
See accompanying Notes to the Financial Statements.
103
5,692,555
6,425,063
1989
Actual
148,818
6;612
83,619
488,746
727,795
88,660
1,620
90,280
637,515
5,055,040
5,692,555
VILLAGE OF DEERFIELD, ILLINOIS
TRUST AND AGENCY FUNDS
POLICE PENSION FUND
STATEMENT OF CHANGES IN FINANCIAL.POSITION
FOR THE YEAR ENDED APRIL 30, 1990
1990 1989
Cash Was Provided By
Operations
Net Income $ 732,508 637,515
Increase in Current Liabilities 9,342 275
741,850 637,790
Cash Was Used To
Increase Current Assets 9,130 6,434
Net Increase (Decrease) 732,720 631,356
Cash and Investments
May 1 5,470,689 4,839,333
April 30 56,203,409 5,470,689
See accompanying Notes to the Financial Statements.
104
1
1
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1
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VILLAGE OF DEERFIELD, ILLINOIS
AGENCY FUNDS
COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
FOR THE YEAR ENDED APRIL 30, 1990
Balances
Balances
May 1
Additions
Deductions.
April 30
All Funds
ASSETS
Cash and Investments
$ 251,651
169,592
68,079
353,164
Receivables
Other
584
392
192
Due from Other Funds
1,779.
5,149
6,928
Assets Held by Agents for
Deferred Compensation
Plan (Market Value)
878,390
157,586
1,035,976
Total Assets
1,132,404
332,327
68,471
1,396,260
LIABILITIES
Accounts Payable
642
1,370
2,012
Deposits Payable
185,293
172,979
358,272
Due to Participants
878,390
157,586
1,035,976
Rebate Payable
68,079
68,079
Total Liabilities
1,132.404
331,935
68,079
1,396.260
Deposit Fund
ASSETS
Cash and Investments
166,953
159,963
326,916
Receivables - Other
165
165
Due from Other Funds
1,779
5,149
6,928
Total Assets
168,897
165,112
165
333,844
LIABILITIES
Accounts Payable
642
1,285
1,927
Deposits Payable
168,255
163,662
331,917
Total Liabilities
168,897
164,947
-
333,844
Deferred Compensation Plan Fund
ASSETS
Assets Held by Agents for
Deferred Plan (Market
Value)
878,390
157,586
-
1:035.976
LIABILITIES
Due to Participants
$ 878,390
157,566
-
1,0356976
See accompanying Notes to the Financial
Statements.
105
VILLAGE OF DEERFIELD, ILLINOIS
AGENCY FUNDS
COMBINING STATEMENT OF CHANGES IN.ASSETS AND LIABILITIES (CONT.)
FOR THE YEAR ENDED APRIL 30, 1990
Balances
Balances
May 1
Additions
Deductions
April 30
Special Assessment
ASSETS
Cash and Investments
$68,079
68,079
-
Total Assets
68,079
-
68,079
-
LIABILITIES
Rebate Payable
68,079
-
68,079
-
Deerfield Cemetery
Association
ASSETS
Cash and Investments
16,619
9,629
26,248
Receivables - Other
419
227
192
Total Assets
17,038
9d6299
227
26,440
LIABILITIES
Accounts Payable
85
85
Deposits Payable
17,038
9,317
26,355
Total Liabilities
17 038
99 4�02
-
26,440
See accompanying Notes to the Financial Statements.
106
ACCOUNT GROUPS
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GENERAL FIXED ASSETS
ACCOUNT GROUP
Fixed assets used in operations are not accounted for in governmental funds.
General fixed assets include all fixed assets not accounted for in Proprietary
Funds or in Trust Funds.
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VILLAGE OF DEERFIELD, ILLINOIS.
GENERAL FIXED ASSETS ACCOUNT GROUP
SCHEDULE OF GENERAL FIXED ASSETS - BY SOURCE
APRIL 30, 1990
GENERAL FIXED ASSETS
Land
Buildings.and Improvements
Vehicles
Equipment
INVESTMENT. IN GENERAL FIXED ASSETS
General Revenues
General Obligation Bonds
Installment Contracts
107
$2,919,603
4,804,858
657,850
1,471,197
9,853,508
7,953,508
1,500,000
400,000
S9.853.508
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VILLAGE OF DEERFIELD,JLLINOIS
GENERAL FIXED ASSETS ACCOUNT GROUP
SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS - BY FUNCTION AND ACTIVITY
FOR THE YEAR ENDED APRIL 30, 1990
Balances
Balances
Function and Activity
May 1
Additions
Retirements
April 30
General Government
$3,018,534
346,914
1,021,583
2,343,865
Public Safety
2,824,418
180,040
95,897
2,908,561
Public Works
974,908
3,737,174
111,000
4,601,082
56,817,860
4.264,128
1.228.480
9.853,508
109
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GENERAL LONG-TERM DEBT
ACCOUNT GROUP
To account for the noncurrent portion of the government's Bond Issue liabilities.
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SUPPLEMENTARY DATA
l
VILLAGE OF DEERFIELD, ILLINOIS
ILLINOIS MUNICIPAL RETIREMENT FUND
REQUIRED SUPPLEMENTARY INFORMATION
ANALYSIS OF FUNDING PROGRESS
APRIL 30, 1990
(1)
(4)
(6)
Net Assets
Unfunded
Unfunded Pension
Available
(2)
(3)
Pension
(5)
Benefit Obligation
'
Calendar
for Benefits
(Lower of Cost
Pension
Benefit
Percentage
Funded
Benefit
Obligation
Annual
Covered
as a Percentage
of Covered Payroll
Year
or Market)
Obligation
(1) _ (2)
(2) - (1)
Payroll
(4) _ (5)
1987
$1,785,417
3,229,435
55.29X
1,444,018
2,292,114
63.00%
1988
1,488;727
3,137,943
47.44
1,649,216
2,529,121
65.21
1989
$1,770,910
3,489,507
50.75%
1,718,597
2,636,443
65.19%
I
(During the implementation transition period all information required is
presented for as many years as is available.)
Analysis of the dollar amounts of net assets available for benefits, pension
benefit obligation, and unfunded pension benefit obligation in isolation can be
misleading. Expressing the net assets available for benefits as a percentage of
the pension benefit obligation provides one indication of funding status on a
going -concern basis. Analysis of this percentage over time indicates whether the
system is becoming financially stronger or weaker. Generally, the greater this
percentage, the. stronger the PERS. Trends in unfunded pension benefit obligation
and annual covered payroll are both affected by inflation. Expressing the
unfunded pension benefit obligation as a percentage of annual covered payroll
approximately adjusts for the effects of inflation and aids analysis of progress
made in accumulating sufficient assets to pay benefits when due. Generally, the
smaller this percentage, the stronger the PERS.
111
VILLAGE OF DEERFIELD, ILLINOIS
POLICE PENSION FUND
REQUIRED SUPPLEMENTARY INFORMATION
ANALYSIS OF FUNDING PROGRESS
APRIL 30, 1990
(4)
(6)
Unfunded
Unfunded (Assets
(1)
(Assets in
in Excess of)
Net Assets
Excess of)
Pension Benefit
Available
(2)
(3)
Pension
(5)
Obligation as
for Benefits
Pension
Percentage
Benefit
Annual
a Percentage of
Fiscal
(Lower of Cost
Benefit
Funded
Obligation
Covered
Covered Payroll
Year
or Market)
Obligation
(1) _ (2)
(2) - (1)
Payroll
(4) T (5)
1988
$5,055,040
4,290,531
118.00%
(764,509)
1,237,594
(62.00)%.
1989
5,692,830
4,823,277
118.00
(869,278)
1,380,114
(63.00)
1990
$6,425,063
5,242,623
.123.00X
(1,182,440)
1,460,008
(81.00)%
(During the implementation transition period all information required is
presented for as many years as is available.).
Analysis of the dollar amounts of net assets available for benefits, pension
benefit obligation, and unfunded pension benefit obligation in isolation can be
misleading. Expressing the net assets available for benefits as a percentage of
the pension benefit obligation provides one indication of funding status on a
going -concern basis. Analysis of this percentage over time indicates whether the
system is becoming financially stronger or weaker. Generally, the greater this
percentage, the stronger the PERS. Trends in unfunded pension benefit obligation
and annual covered payroll are both affected by inflation. Expressing the
unfunded pension benefit obligation as a percentage of annual covered payroll
approximately adjusts for the effects of inflation and aids analysis of progress
made in accumulating sufficient assets to pay benefits when due. Generally, the
smaller this percentage, the stronger the PERS.
112
VILLAGE OF DEERFIELD, ILLINOIS
ILLINOIS MUNICIPAL RETIREMENT FUND
REQUIRED SUPPLEMENTARY INFORMATION
REVENUES BY SOURCE
APRIL 30, 1990
Revenues by Source
Calendar
Employee
Employer
Investment
Year
Contributions
Contributions
Income
Totals
1980
$ 59,013
94,605
N/A .
153,618
1981
70,160
93,047
N/A
163,207
1982
73,144
102,696
N/A
175,840
1983
78,651
114,848
N/A
193,499.
1984
82,899
127,571
N/A
210,470
1985
89,372
151,116
N/A
240,488
1986
95,745
167,152
N/A
262,897
1987
103,137
179,472
N/A
282,609
1988
113,907
204,352
N/A
318,259
1989
$118,539
266,280
N/A
384,819
Employer
Contributions as
a Percentage of
Payroll
8.35X
8.35
8.32
8.32
8.30
8.30,
8.27
8.21
8.08
10.10%
113
Fiscal
Year
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
Fiscal
Year
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
VILLAGE OF DEERFIELD, ILLINOIS
POLICE PENSION FUND
REQUIRED SUPPLEMENTARY INFORMATION
REVENUES BY SOURCE AND EXPENSES BY TYPE
APRIL 30,:1990
Revenues by
Source
Employee
Employer
Investment
Contributions
Contributions
Income
Totals
$ 67,138
124,536
109,761
301,435
74,509
109,258
111,758
295,525
76,123
127,124
212,511
415,758
83,022
140,265
265,078
488,365
86,623
156,125
315,417
558,165
97,525
173,723
361,378
632,626
99,923
180,434
458,868
739,225
107,902
150,024
473,397
731,323
83,619
155,430
488,746
727,795
$127,777
160,461.
562,558
850,796
Expenses by
Type
Administrative
Benefits
Expenses
Refunds
Totals'
$ 25,992
25
5,276
31,293
29,413
320
14,281.
44,014
29,403
200
23,003
52,606
37,455
75
37,530
65,912
25.
10,873
76,810
66,736
937
1,137
68,810
83,885
99
17,050
101,034
87,859
53
87,912
88,660
1,620
90,280
.$117,720
568
118',288
Employer
Contributions as
a Percentage of
Pavroll
14.20%
14.35
14.40
14.56
14.53
14.52
15.08,
12.08
11.26
11.00%
114
VILLAGE OF DEERFIELD,_ILLINOIS
POLICE PENSION FUND
SCHEDULE OF OFFICERS' DEPOSITS
APRIL 30, 1990
Balance
Balance
May 1
Deposits Withdrawals
April 30
Kenneth Anderson
$ 36,492
4,703
41,195
Leo Anderson
35,959
4,545
40,504
Mark Anfeson
Marcea Ross
16,837
26,946
3,436
3,437
20,273
30,383
Richard Brandt
53,348
6,033
59,381
William Butler
40,564
3,704
44,268
Louis Cacciatore
12,400
3,437
15,837
Robert Davenport, Jr.
52,558
2,240
54,798
John Elofson
34,178
3,487
37,665
William Ennis
Marie Rose Gawne
28,112
23,976
3,200
3,123
31,312
27,099
Robert Hamilton
46,728
1,218
47,946
Thomas Hill
43,179
3,536
46,715
George Hoffman
36,029
3,585
39,614
Kevin K. Keel
6,084
2,940
9,024
Dave Lemmer
13,463
3,436
16,899
Eric Lundahl
20,977
3,437
24,414
Jeffrey McDermot
46,449
4,376
50,825
Robert Ogden
19,531
3,437
22,968
Rand J. Roel
Michael E. Scarry
16,005
9,513
3,437
3,437
19,442
12,950
John Sebben
33,146
3,436
36,582
Thomas Skrabala
43,102
5,018
48,120
D
John Sliozis
31,168
4,418
35,586
Michael Soler
31,371
3,410
34,781
Melvin Soltwisch
10,313
3,436
13,749
Gary Stryker
42,055
4,460
46,515
Larry Tousignant
47,346
4,544
51,890
David Turnbaugh
42,607
4,269
46,876
Richard Weil
20,487
3,437
23,924
Ross Roel
2,467
2,685
5,152
Brian Budny
1,884
2,639
4,523
Tim Foley
136
2,486
2,622
Geoffrey Ruther
87
2,491
2,578
a
Karen Stachowicz
136
2,496
2,632
Richard Wilk
1,292
2,590
3,882
Walter Trillhaase
Paul Obrzut
1,296
2,011
1,296
2,011
Thomas Keane
671
671
Michael Greisz
1,296
1,296
Thomas Best
456 456
926 925
131,729 456
1,058,198
115
Insureds
Village of Deerfield
Village of Deerfield
Village of Deerfield
Village of Deerfield
Village of Deerfield
Public Officials
Village of Deerfield
VILLAGE OF DEERFIELD, ILLINOIS
SCHEDULE OF INSURANCE IN FORCE
APRIL 30, 1990
Description of Coverage
Workmens Compensation
Comprehensive Automobile Liability
Amount of Coverage
Statutory/
$30,000,000
Bodily Injury and Property
1,000,000
General Liability
1,000,000
Blanket Building and Contents
30,000,000
Boiler and Machinery
10,000
Blanket Bond Coverage
10,000/
1,000,000
Excess Coverage.
5,000,000
The Village of Deerfield is a member of the Municipal Insurance Cooperative
Agency. Property, automobile liability, general .liability, and workers'
compensation are provided under the Agency. The Village of Deerfield is also a
member of the High -Level Excess Liability Pool Agency. Excess liability coverage
is provided under this agency.
116
1
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VILLAGE OF DEERFIELD, ILLINOIS
LONG-TERM DEBT REQUIREMENTS
SEWERAGE IMPROVEMENT BOND SERIES OF 1973
APRIL 30, 1990
Date of Issue
Date of Maturity
Authorized Issue
Actual Issue
Denomination of Bonds
Interest Rates
Principal Maturity Date
Interest Dates
Payable at .
June 1, 1973
December 1, 1992
$1,080;000
$1,080,000
$ 5,000
4.4%-5.1%
December 1
June 1 and December 1
Belleville National.Savings
Bank
PRINCIPAL AND INTEREST REQUIREMENTS
Tax
Levy
Bond
Year
Numbers
Principal
Interest
1988
167-181
4,375
1989
182-196
$ 75,000
6,875
1990
197-206
50,000
3,750
1991
207-216
50,000
1,250
175 000
16.250'
Interest
Due on
Totals
Dec. 1
Amount
June 1
Amount
4,375
1990
.4,375
61,875
1990
4,375
1991
2,500:
53,750
1991
2,500
1992
1,250
51,250
1992,
1.250
191.250
86125
8,125
117
VILLAGE OF DEERFIEI.D, ILLINOIS,
LONG-TERM DEBT REQUIREMENTS
SEWERAGE TREATMENT FACILITIES BOND SERIES OF 1973
APRIL 30, 1990
Date of Issue.
Date of Maturity
Authorized Issue
Actual Issue
Denomination of Bonds
Interest Rates
Principal.Maturity Date
Interest Dates
Payable at
June 1, 1973
December 1-, 1992
$2,000,000
$2,000,000
$ 5,000
4.4%-6.0%
December 1
June 1 and December l
Belleville NAtional.Savings
Bank
PRINCIPAL AND INTEREST REQUIREMENTS
Tax
Levy
Bond
Tax Lew
Year
Numbers
Principal
Interest
Totals'
10,625•
10,625
1989
316-340
$125,000
18,125
143,125
1990
341-370
150,000
11,250
161,250
1991
371-400
150,000
3,750
153,750
425 000
43,750
468 7750
118
Interest Due on
Dec. 1
Amount June 1
Amount
1990
10,625
1990
10,625 1991
7,500
1991
7,500 1992
3,750
1992,
3,750
21,875
21,875
1
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VILLAGE OF DEERFIELD, ILLINOIS
LONG-TERM DEBT REQUIREMENTS
CORPORATE PURPOSE BOND SERIES OF 1982
APRIL 30, 1990
Date of Issue
Date of Maturity
Authorized Issue
Actual Issue
Denomination of Bonds
Interest Rates
Principal Maturity Date
Interest Dates
Payable at
October 1, 1982
December 1, 1994
$500,000
$500,000
$ 5000
9.60; - 10.25%
December 1
June 1 and December 1
The Northern Trust Company
PRINCIPAL AND INTEREST REQUIREMENTS
Tax
Levy
Bond
Tax Lew
Interest
Due on
Year
Numbers
Principal
Interest
Totals
June 1
Amount
Dec. 1
Amount
1989
36-45
v $ 50,000
30,025
80,025
�' 1990
15,013
1990
15,012
1990
46-55
" 50,000
25,650
75,650
1991
12,825
1991
12,825
1991
56-70
75,000
21,150
96,150
1992
10,575
1992
10,575
1992
71-85
75,000
14,250
89,250
1993
7,125
1993
7,125
1993
86-100
75,000
7,200
82,200
1994
3,600
3,600
325 000
98,275
423,275
49,138
49�137
119
1
VILLAGE OF DEERFIELD, ILLINOIS.
'
LONG-TERM DEBT REQUIREMENTS
CORPORATE PURPOSE BOND SERIES OF 1982 - A
APRIL 30, 1990
,
Date of Issue
December 1, 1982
Date of Maturity
December 1, 1993
Authorized Issue
$500,000
Actual Issue
$500,000
,
Denomination of Bonds
$ 5,000
Interest Rates
7.0% - 8.5%
Principal Maturity
Date December 1
Interest Dates
June 1 and December-1
Payable at
American Fletcher National
Bunk, Indianapolis
'
PRINCIPAL AND INTEREST REQUIREMENTS
Tax
Levy Bond
Tax Lew Interest Due on
Year Numbers
Principal Interest Totals . June 1 Amount
Dec. 1
Amount
1989 61-70
$ 50,000 16,750 66,750 1990 8,375
1990
8,375
1990 71-80
50,000 12,750 62,750 1991 6,375
1991
6,375•
1991 81-90
50,000 8,500 58,500 1992 4,250
1992
4,250
1992 91-100
50,000 4,250 54,250 1993 2,125
1993
2,125
200 000 42.250 242.250 21 125
21,125
} 120
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i
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1
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1
1
1
1
1
1
1
1
VILLAGE OF DEERFIELD, ILLINOIS
LONG-TERM DEBT REQUIREMENTS
CORPORATE PURPOSE BOND SERIES OF 1986
APRIL 30, 1990
Date of Issue
Date of Maturity
Authorized Issue
Actual Issue
Denomination of Bonds
Interest Rates
Principal Maturity Date
Interest Dates
Payable at
Tax
Levy
May 1, 1986
January 1, 2005
$11,000,000
$11,000,000
$ 5,000
6.4% - 7.75%
January 1
January 1 and July 1
American National Bank & Trust Co.
Chicago, Illinois
PRINCIPAL AND INTEREST REQUIREMENTS
Year
Principal
Interest
Totals
1989
$ 410,000
712,363
1,122,363
1990
445,000
680,588
1,125,588
1991
485,000
646,100
1,131,100
1992
515,000
608,513
1,123,513
1993
545,000
568,600
1,113,600
1994
580,000
529,905
1,109,905
1995
620,000
492,785
1,112,785
1996
660,000
452,485
1,112,485
1997
700,000
408,925
1,108,925
1998
750,000
362,-025
1,112,025
1999 .
800,000
311,025
1,111,025
2000
855,000
255,825
1,110,825
2001
915,000
198,113
1,113,113
2002
975,000
136,350
1,111,350
2003
1,045,000
70,538
1,115,538
$10,300,000 6,434,140 16�734,140
121
Interest
Due on
July 1
Amount
Jan. 1
Amount
1990
356,181
1991
356,182
1991
340,294
1992
340,294
1992
323,050
1993
323,050
1993
304,256
1994
304,257
1994
284,300
1995
284,300
1995
264,952
1996
264,953
1996
246,392
1997
246,393
1997
226,242
1998
226,243
1998
204,462
1999
204,463
1999
181,012
2000
181,013
2000
155,512
2001
155,513
2001
127,912
2002
127,913
2002
99,056
2003
99,057
2003
68,175
2004
68,175
2004
35,269
2005
35,269
3,217,065 3,217.075
VILLAGE OF DEERFIELD, ILLINOIS
LONG-TERM DEBT REQUIREMENTS
CORPORATE PURPOSE BOND SERIES OF 1987
APRIL 30, 1990
Date of Issue
Date of Maturity
Authorized Issue
Actual Issue
Denomination of Bonds
Interest Rates
Interest Dates
Payable at
October 8, 1987
October 8, 2002
$10,000,000
$10,000,000
$ 5,000
8.4% - 8.5%
October 8 and April 8
Marine National Bank
CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Tax
Levy
Requirements
Year
Principal
Interest
Totals
1988
421,500
421,500
1989
843,000
843,000
1990
843,000
843,000
1991
843,000
843,000
1992
843,000
843,000
1993
843,000
843,000
1994
843,000
843,000
1995
843,000
843,000
1996
843,000
843,000
1997
843,000
843,000
1998
843,000
843,000
1999
$ 7,000,000
843,000
7,843,000
2000
3,000,000
255,000
3,255,000
$10,000,000
9,94®
19.949,500
Interest
Due on
April 8
Amount
Oct. 8
Amount
1990
421,500
1991
421,500
1991
421,500
1992
421,500
1992
421,500
1993
421,500
1993
421,500
1994
421,500
1994
421,500
1995
421,500
1995
421,500
1996
421,500
1996
421,500
1997
421,500
1997
421,500
1998
421,500
1998
421,500
1999
421,500
1999
421,500
2000
421,506
2000
421,500
2001
421,500
2001
421,500
2002
127,500
2002
127.500
4,764,000 5 185,500
122
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VILLAGE.OF DEERFIELD,.ILLINOIS
LONG-TERM .DEBT REQUIREMENTS
GENERAL OBLIGATION BOND, SERIES OF 1988
APRIL 30, 1990
Date of Issue
Date of Maturity
Authorized Issue
Denomination of Bonds
Interest Rates
Interest Dates
Principal Maturity Date
Payable.at
November 1, 1988
January 1,. 2004
$3,000,000
$ 5,000
6.50%, 6.60%,.6.70% - 6.75%, 6.80%,
6.90%,. and 8.0%.
January 1 - July 1
January 1
American National Bank and Trust Company
of Chicago
CURRENT -AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS
Tax
Levy
Tax Lew
Year
Principal
Interest
Totals
1989
$ 125,000
203,462
328,462
1990
150,000
193,462
343,462
1991
150,000
181,462
331,462
1992
150,000
169,462
319,462
1993
175,000
157,462
332,462
1994
175,000
146,088
321,088
1995
200,000
134,712
334,712
1996
200,000
121,512
321,512
1997
225,000
108,112
333,112
1998
225,000
92,925
317,925
1999
250,000
77,625
327,625.
2000
275,000
60,375
335,375
2001.
300,000
41,400
341,400
2002
300,000
20,700
320,700
$2,900,000
1,708,759
4,608,759
123
Interest
Due on
July 1
Amount
Jan I.
Amount
1990
101,.731
1991
101,731
1991
96,731
1992
96,731
1992
90,731
1993
90,731
1993
84,731
1994
84,731
1994
78,731
1995
78,731
1995
73,044
1996
73,044
1996
67,356.
1997
67,356
1997
60,756
1998
60,756
1998
54,056
1999
54,056
1999
46,462
2000.
46,463
2000
38,812
2001
38,813
2001
30,187.
2002
30,188
2002
20,700
2003
20,700
2003
10.350
2004
10.350
854,378 854,381
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PROPERTY TAX ASSESSED VALUATIONS, RATES, EXTENSIONS, AND COLLECTIONS
LAST TEN FISCAL YEARS
APRIL 30, 1990
(See Following Page)
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VILLAGE OF DEERFIELD, ILLINOIS
ASSESSED AND ESTIMATED VALUE OF TAXABLE PROPERTY
LAST TEN FISCAL YEARS
APRIL 30, 1990
Tax
Assessed Value
Levy
Real
Railroad
Estimated
Year
Property
Property
Totals
Value
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
1987
314,936,632
50,397
314,987,029
945,000,000
1988
331,640,352
53,070
331,693,422
995,000,000
1989
$375,839,166
60,143
375,899,309
1,127,000,000
Data Source
Office of the County Clerk
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' VILLAGE OF DEERFIELD, ILLINOIS
SCHEDULE OF DIRECT AND OVERLAPPING BONDED DEBT
APRIL 30, 1990
(1) (2)
* Percentage of
Debt Applicable ** Village's
Gross Debt to the Village Share of. Debt
Governmental Unit
Village of Deerfield . $ 24,325,000 100.00% 24,125,000
Metropolitan Sanitary District 682,065,000 .10 682,065
Lake County
135,916,000
5.02
6,827,061
Cook County
523,905,000
.09
513,427
North Shore Sanitary District
3,000,000
.03
780
Deerfield Park District
Northbrook Park District
1,560,000
16,400,000
97.443
4.67
1,520,111
765,060
Highland Park Park District
1,200,000
1.66
19,968
Highland Park Elementary #108
375,000
6.34
23,790
Township High School #113
4,920,000
27.62
1,358,658
Junior College #532.
12,855,000
6.12
786,.855
Lake County Special Service Area #5
795,000
27.27%
216,820
'
Total Gross Debt
1,407,316,000
37,039,595
Less Debt Service and
Expendable Trust Funds
Village of Deerfield
11,062,924
11.062,924
Total Gross Debt Less
Available Amount
51,396,253,076
25,976,671
* - Determined by ratio of assessed value of property subject to taxation
in overlapping unit to value of property subject to taxation.
** - Amount in column (2) multiplied by amount in column (1).
Data Source
' (1) Office of the County Clerk
(2) Office of the County Clerk
130
VILLAGE OF DEERFIELD, ILLINOIS
SCHEDULE OF LEGAL DEBT MARGIN
APRIL 30, 1990
The government is a home rule municipality.
Article VII, Section 6(k) of the 1970 Illinois Constitution governs computation
of the legal debt margin.
"The General Assembly may limit by law the amount and require referendum
approval of debt to be incurred by home rule municipalities, payable from
ad valorem property tax receipts, only in excess of the following
percentages of the assessed value of its taxable property... (2) if its
population is more than 25,000 and less than 500,000 an aggregate of one
per cent:... indebtedness which is outstanding on the effective date (July
1, 1971) of this constitution or which is thereafter approved by referendum
shall not be included in the foregoing percentage amounts."
To date the General Assembly has set no limits for home rule municipalities.
Illustrative Computation of Debt Margin
if Village Were Not a Home Rule Municipality
Village of Deerfiled 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 - 1989
Legal Debt Limit - 8.625
Amount of Debt Applicable to Limit
Sewerage Improvement Bonds
$ 175,000
Sewerage Treatment Facility Bonds
.425,000
Corporate'Purpose Bond Series 1982
325,000
Corporate Purpose Bond Series 1982-A
200,000
Corporate Purpose Bond Series 1986
10,300,000
Corporate Purpose Bond Series 1987
10,000,000
General Obligation Bond Series 1988
2,900,000
Available Funds
(11,062,924)
Legal Debt Margin
375,899,309
32,421,315
13,262,076
19,159,239
The Village has available fund in the Debt Service and Expendable Trust Funds in
the amount of $11,062,924.
131
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VILLAGE.OF
DEERFIELD, ILLINOIS
'
DEMOGRAPHIC STATISTICS
LAST TEN FISCAL YEARS.
APRIL 30, 1990
'
(3)
Percentage of
People .Over
'.
(2)
25 Years of
(4)
(5)
Fiscal
(1)
Per
Household
(2) Age With Four
Median or More Years
School
Enroll-
Unemploy-
ment
'
Year
Population
Income
Ate_ of College
ment
Percentage
1981
17,453
$37,000
33.3 50.1
4,318
1.7%
1982
17,476
39,000
34.0 50.3
4,106
2.2
'
1983
17,487
41;000
34.7 50.4
3,933
2.1
1984
17,500
45,000
35.4 50.7
3,788
1.9
1985'
17,500
45,400
36.1 50.8
3,703
2.0
'
1986
17,500
46,100
36.5 51.0-
3,715
1.7
1987
17,500
47,500
36.8 51.1
3,602
1.3
1988
17',500
48;100
37.2 51.3
3,276
1.1.
1989
17,500
50,900
37.4 51.5
3,238
..9
1990
17,500
$53,600
31.5 51.8
3,106
1.0%
1
Data Sources
(1)
1981-1990 were
derived from data from the Department of Commerce
and
'
Community Affairs
(2)
The 1981 -.1990 based upon
Deerfield Chamber of Commerce figures.
'
(3)
Percentage of people over
25 years of age or over with 4 or more years of
College education. ,Northeastern
Illinois Planning
Commission.
'
(4)
Enrollment figures derived
from combined enrollment
of District
109 (grade
school), and
District 113
(high school).
'
(5)
Unemployment
figures based
on 1/4 of Lake County figures.
1
133 '
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1
VILLAGE OF DEERFIELD, ILLINOIS
PROPERTY VALUE, CONSTRUCTION, AND BANK DEPOSITS
LAST TEN FISCAL YEARS
APRIL 30, 1990
(1)
Commercial
Construction
Fiscal
Number
Year
of Units
Value
1981
59
$ 3,235,868
1982
77
9,758,795
1983
84
20,369,020
1984
52
12,146,201
1985
101
34,504,614
1986
135
37,746,399
1987
79
44,287,589
1988
110
21,705,751
1989
222
75,592,000
1990
150
$33,113,366
(1)
Residential
Construction
Number
of Units.
Value
85
1,852,788
86
1,689,832
104
5,673,638
46
5,131,160
50
6,552,552
90
11,318,142
86
8,08.9,179
51
5,489,656
72 12,463,000
77 12,085,690
(3)
(2) Total
Bank Property
Deposits Value
52,282,000 664,000,000
53,522,000 682,000,000
63,218,000 711,000,000
63,877,000 708,000,000
64,750,000 710,800,000
130,155,000 748,100,000
141,241,000 838,160,000
149,182,000 944,962,000
163,472,790 995,080,000
187,961,000 1,127,700,000
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..
J
134
VILLAGE OF DEERFIELD,' ILLINOIS
PRINCIPAL TAXPAYERS
APRIL 30, 1990
Percentage
1989
of Total
Assessed
Assessed
Taxpayers
Type of Business
Valuation
Valuation
Stein and Company
Lake Cook Office Center
$14,264,807
3.33%
VMC, Inca
Deerbrook Shopping Center
12,633,123
2.95
Arbor Lake Center
Office Building
9,562,776
2.23
Matas Corporation
Corporate 500 Center
7,322,429
1.71
Deerfield - Saunders
Parkway North Office
Joint Venture
Building
7,131,456
1.67
Baxter International
Office Buildings
6,370,219
1.49
Lake - Cook Plaza
Shopping Center
6,091,864
1.42
Hyatt - Deerfield
Hotel
6,000,000
1.40
Tollway North
Tollway North Office Park
5,475,076
1.28
Sara Lee
Bakery,Products
5,188,084
1.21
580,039.834
18.70%
Data Source
Office of the County Clerk
135
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Date of Incorporation
Form of Government
Geographic Location
Population
1950
1960
1970
1980
VILLAGE OF DEERFIELD, ILLINOIS
MISCELLANEOUS STATISTICS
APRIL 30, 1990
Municipal Services & Facilities
Number of Full -Time Employees
Miles of Streets
Miles of Alleys
Miles of Sewers
Building Inspection
Number of Permits Issued in 1990
Fire Protection
Number of Firemen and Officers
Number of Stations
136
1903
Manager/Council
North Suburban
Chicago
3,288
11,748
18,876
17,430
97
70
4
140
856
21
VILLAGE OF DEERFIELD, ILLINOIS
MISCELLANEOUS STATISTICS (CONT.)
APRIL 30, 1990
Police Protection
Number of Stations
Number of Policemen and Officers
Library Services
Number of Branch Libraries
Number of Books (Approx.)
Recreation Facilities
Number of Parks and Playgrounds
Park Area in Acres
Municipal Water Utility
Population Serviced
Average Daily Pumpage
Miles of Water Mains
Data Source
Village Records
1
38
1
130,000
19
262
5,797
2,652,005 gals.
70
137