CAFR (Year Ended April 30, 1983) 10,
- Village of Oak Brook,
Illinois
_ Comprehensive Annual
Financial Report
_ Year Ended April 30, 1983
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y 25th ANNIVE7c
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VILLAGE OF OAK BROOK, ILLINOIS
Comprehensive Annual Financial Report
Year ended April 30, 1983
INTRODUCTORY SECTION
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VILLAGE OF OAK BROOK, ILLINOIS
Comprehensive Annual Financial Report
Year ended April 30, 1983
TABLE OF CONTENTS
Exhibit Page(s)
Introductory Section: 1
Table of Contents . . . . . . . . . . . . . . . . . . . . 2-5
Organization Chart . . . . . . . . . . . . . . . . . . . . 6
Officers and Officials . . . . . . . . . . . . . . . . . 7
Village Manager and Finance Officer's
Letter of Transmittal . . . 8-15
Certificate of Conformance in Financial Reporting . . . . 16
Financial Section: 17
Accountants' Report . . . . . . . . . . . . . . . . . . . 18
Combined Financial Statements:
Combined Balance Sheet - All Fund Types and
Account Groups . . . . . . . . . . . . . . . . . . . . 1 19-22
Combined Statement of Revenues, Expenditures, and
Changes in Fund Balances - All Governmental
Fund Types . . . . . . . . . . . . . . . . . . . . . . 2 23
Combined Statement of Revenues, Expenditures, and
Changes in Fund Balances - Budget and Actual -
General Corporate, Special Revenue, Debt
Service, and Capital Projects Fund Types . . . . . . . 3 24-25
Combined Statement of Revenues, Expenses, and Changes
�- in Retained Earnings/Fund Balances - All
Proprietary Fund Types and Similar Trust Funds . . . . 4 26
Combined Statement of Changes in Financial
Position - All Proprietary Fund Types and
Similar Trust Funds . . . . . . . . . . . . . . . . . 5 27
Notes to Financial Statements . . . . . . . . . . . . 28-44
Statement Schedule Page(s)
Combining, Individual Fund, and Account
Group Financial Statements and Schedules: 45
Governmental Funds:
General Corporate Fund: 46
Statement of Revenues, Expenditures,
and Changes in Fund Balance -
Budget and Actual . . . . . . . . . . A-1 47
Schedule of Expenditures - Budget
and Actual . . . . . . . . . . . . . . A-2 48-51
�- (Continued)
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VILLAGE OF OAK BROOK, ILLINOIS
Comprehensive Annual Financial Report
TABLE OF CONTENTS, CONTINUED
Statement Schedule Page(s)
Combining, Individual Fund, and Account
Group Financial Statements and
Schedules, Continued:
Governmental Funds, Continued:
Special Revenue Funds: 52
Combining Balance Sheet . . . . . . . . B-1 53
Combining Statement of Revenues,
Expenditures, and Changes in
Fund Balances . . . . . . . . . . . . B-2 54
Combining Statement of Revenues,
Expenditures, and Changes in Fund
Balances - Budget and Actual . . . . . B-3 55-56
Capital Projects Funds: 57
Combining Balance Sheet . . . . . . . . C-1 58
Combining Statement of Revenues,
Expenditures, and Changes in
Fund Balances . . . . . . . . . . . . C-2 59
Combining Statement of Revenues,
Expenditures, and Changes in Fund
Balances - Budget and Actual . . . . . C-3 60-61
Proprietary Funds:
•- Enterprise Funds: 62
Combining Balance Sheet . . . . . . . . D-1 63-64
Combining Statement of Revenues,
._ Expenses, and Changes in Retained
Earnings (Deficit) . . . . . . . . . . D-2 65
Combining Statement of Changes in
Financial Position . . . . . . . . . . D-3 66
Waterworks System Fund:
Statement of Revenues, Expenses, and
Changes in Retained Earnings -
Budget and Actual . . . . . . . . . D-4 67
Schedule of Operating Expenses by
Department - Budget and Actual . . . D-5 68
Schedule of Property, Plant, and
Equipment and Accumulated
Depreciation . . . . . . . . . . . D-6 69-70
(Continued)
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VILLAGE OF OAK BROOK, ILLINOIS
Comprehensive Annual Financial Report
TABLE OF CONTENTS, CONTINUED
Statement Schedule Page(s)
Combining, Individual Fund, and Account
Group Financial Statements and
Schedules, Continued:
Proprietary Funds, Continued:
Sports Core Fund:
Statement of Revenues, Expenses, and
Changes in Deficit - Budget and
Actual . . . . . . . . . . . . . . . . D-7 71
Schedule of Operating Expenses by
Department - Budget and Actual . . . . D-8 72
Schedule of Property, Plant, and
Equipment and Accumulated
Depreciation . . . . . . . . . . . . . D-9 73-74
Fiduciary Funds - Pension Trust Funds: 75
Combining Balance Sheet . . . . . . . . . E-1 76
Combining Statement of Revenues,
Expenses, and Changes in Fund
Balances . . . . . . . . . . . . . E-2 77
Combining Statement of Changes in
Financial Position . . . . . . . . . . . E-3 78
Police Pension Fund:
Statement of Revenues, Expenses, and
Changes in Fund Balance - Budget
and Actual . . . . . . . . . . . . . . E-4 79
Firemen's Pension Fund:
Statement of Revenues, Expenses, and
Changes in Fund Balance - Budget
and Actual . . . . . . . . . . . . . . E-5 80
General Fixed Assets Account Group: 81
�.. Schedule of General Fixed Assets - By
Sources . . . . . . . . . . . . . . . . F-1 82
Schedule of General Fixed Assets - By
Function and Activity . . . . . . . . . F-2 83
Schedule of Changes in General Fixed
Assets - By Function and Activity . . . F-3 84
... (Continued)
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VILLAGE OF OAK BROOK, ILLINOIS
Comprehensive Annual Financial Report
TABLE OF CONTENTS, CONTINUED
Table Page(s)
Statistical Section (unaudited) : 85
General Governmental Expenditures by Function - Last
ten fiscal years . . . . . . . . . . . . . . . . . . . . 1 86
General Revenues by Source - Last ten fiscal years . . . . 2 87
Property Tax Levies and Collections - Last five
fiscal years . . . . . . . . . . . . . . . . . . . . . . 3 88
Assessed and Estimated Actual Value of Taxable
Property - Last ten fiscal years . . . . . . . . . . . . 4 89
Property Tax Rates - All Overlapping Governments -
Last ten fiscal years . . . . . . . . . . . . . . . . . 5 90
Ratio of Net General Bonded Debt to Assessed Value
and Net Bonded Debt per Capita - Last seven
fiscal years . . . . . . . . . . . . . . . . . . . . . . 6 91
Computation of Legal Debt Margin . . . . . . . . . . . . . 7 92
Computation of Overlapping Debt . . . . . . . . . . . . . 8 93
Ratio of Annual Debt Service Expenditures for General
Bonded Debt to Total General Expenditures -
Last five fiscal years . . . . . . . . . . . . . . . . . 9 94
Revenue Bond Coverage - Waterworks System Bonds -
Last eight fiscal years . . . . . . . . . . . . . . . . 10 95
Demographic Statistics . . . . . . . . . . . . . . . 11 96
Property Value, Construction, and Bank Deposits - Last
ten calendar years . . . . . . . . . . . . . . . . . . . 12 97
Principal Taxpayers . . . . . . . . . . . . . . . . . . . 13 98 ,
Insurance in Effect . . . . . . . . . . . . . . . . . 14 99
Miscellaneous Statistical Data . . . . . . . . . . . . 15 100
5
VILLAGE OF OAK BROOK, ILLINOIS
Officers and Officials
Year ended April 30, 1983
President
Wence F. Cerne
Clerk
Marianne Lakosil
Trustees
George Congreve
Walter C. Imrie
Robert E. Listecki
Arthur W. Philip
Joseph H. Rush
William R. Watson
Village Manager
Kenneth G. Carmignani
Village Treasurer
�- Kathleen A. Gregory
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FCOUNT�'
VILLAGE OF OAK BROOK
1200 OAK BROOK ROAD
•-- OAK BROOK, ILLINOIS
654-2220
August 9, 1983
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President and Board of Trustees
„- Village of Oak Brook
Oak Brook, Illinois 60521
Gentlemen:
The Comprehensive Annual Financial Report of the Village of Oak Brook for the
fiscal year ended April 30, 1983, is submitted herewith. Responsibility for
both the accuracy of the presented data and the completeness and fairness of
the presentation, including all disclosures, rests with the Village. We
believe the data, as presented, is accurate in all material aspects; that it
is presented in a manner designed to fairly set forth the financial position
and results of operations of the Village as measured by the financial activity
of its various funds; and that all disclosures necessary to enable the reader
to gain the maximum understanding of the Village's financial affairs have been
included.
In addition to the financial statements required for each fund we have
;— included a group of self-balancing accounts known as the General Fixed Assets
and General Long Term Debt Account Groups.
The General Fixed Assets Account Group reflects all fixed assets acquired by
funds except the enterprise funds. Schedules of property plant and equipment
for the two enterprise funds Water and Sports Core - are also included.
The Long Term Debt Account includes the General Obligation Bonds issued in
1977 for the purchase of the Sports Care, the debt for the Village Hall and
accrued employee vacation liability as required by the provisions of Statement
�- No. 4 issued by the National Council on Governmental Accounting.
The last section of the Annual Report includes statistical data and schedules
which contribute to the value of the report as an official document.
This letter describes the significant aspects of financial operations during
the year. It is our hope that this report will materially assist the Board of
Trustees , village officials and personnel , and our citizens in better
understanding the financial activities and transactions relating to our
Village government.
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Accounting System and Budgetary Control
The Village' s accounting records for general governmental operations are
accounted for on a modified accrual basis of accounting. The revenues are
recorded when available and measureable. Expenditures are recorded when the
services or goods are received and the liabilities are incurred. Accounting
records for the Village's enterprise funds and pension funds are maintained on
the accrual basis.
In developing and evaluating the Village's accounting system, consideration is
given to the adequacy of internal accounting controls. Internal accounting
controls are designed to provide reasonable, but not absolute, assurance
regarding : (1) the safeguarding of assets against loss from unauthorized use
or disposition; (2) the reliability of financial records for preparing
financial statements and maintaining accountability for assets. The concept
of reasonable assurance recognizes that: (1) the cost of a control should not
exceed the benefits likely to be derived; and (2) the evaluation of costs and
benefits requires estimates and judgments by management.
All internal control evaluations occur within the above framework. We believe
that the Village' s internal accounting controls adequately safeguard assets
and provide reasonable assurance of proper recording of financial
transactions.
Budgetary control is maintained at the subfunction level by the encumbrance of
estimated purchase amounts prior to the release of purchase orders to vendors.
Open encumbrances are reported as reservations of fund balance at April 30,
,.. 1983.
The Reporting Entity and Its Services
This report includes all of the funds and account groups of the Village. The
Village provides a full range of services contemplated by statute or
character. This includes public safety (police, fire, bureau of inspection,
-- and ambulance service) , street maintenance, public improvements, planning and
zoning, general administration services, water, and operation of a free public
library and recreation facilities at the Oak Brook Sports Core (including an
18-hole golf course) .
The Oak Brook Park District, the various school and sanitary districts, and
the counties of DuPage and Cook are not included in the financial statements
of this report as they are independent special districts and are not part of
the Village of Oak Brook.
General Governmental Functions
Operating revenue for general governmental functions as reported in the
General Corporate Fund totaled $5,746,714, a decrease of $282,627 (4 .7%) over
last year.
The amount of revenues from all sources and the increase or decrease over last
year are shown in the following tabulation:
9
INCREASE
(DECREASE)
SOURCE AMOUNT PERCENT OF TOTAL OVER 1982
Intergovernmental $4,807,484 83.6% $ 59,598
Licenses and Permits 212,984 3.7 (25,033)
Charges for Services 159,897 2.8 (149,785)
Fines and Penalties 139,872 2.4 (15,593)
Interest on Investments 413,163 7.2 (136,743)
-- Other Revenues 13,314 .3 15,071)
$5,77144 100% $(282,627)
Intergovernmental Revenue is the major source of revenue for the Village,
producing 83.6% of current year revenue. The increase over last year is
primarily due to an increase of the York Township road and bridge tax of
'— $48, 374. Also included in intergovernmental revenue is sales tax in the
amount of $175,020 to be remitted to the Village starting in fiscal year
83/84 . This remittance represents prior allocation errors by the Illinois
Department of Revenue (see Notes to Financial Statements No. 8) .
The decrease in charges for services is primarily due to engineering and
review fees paid in fiscal year 1982, as a result of the start of the
McDonald's Office Campus construction.
Revenue from investment income decreased by $136,743 from last year ,
reflecting a drop in interest rates throughout the fiscal _year.
The Village has never levied taxes for general governmental functions.
-- However , the assessed valuation of real property of the Village was
$318,675,334, an increase of $24,777,888, or 8% over the prior year.
,- Expenditures for general governmental purposes totalled $5,392,800, a decrease
of $570,981 (9 .6%) from last year. Changes in levels of expenditures for
major functions of the Village over the prior year are shown in the following
tabulation:
INCREASE
(DECREASE)
�- FUNCTION AMOUNT PERCENT OF TOTAL OVER 1982
Legislative $ 193,109 3.6% $(457,672)
General Government 878,409 16.3 (82,192)
Public Safety 3 ,396,808 62.9 188,480
Public Works 811,437 15.0 (226,993)
Culture and Recreation 113 037 2.2 7,396
$5,392 X00 100 $(570,981)
In 1980, the Board of Trustees implemented a residential taxpayer benefit by
absorbing the cost of once-a-week curbside refuse collection. The cost of
this service is currently valued at $5.90 per week per resident. The total
cost of this service was $143,660 for the past year and is included in the
Legislative portion of expenditures.
10
The decrease of expenses in the legislative portion of expenditures is due to
a 1982 extraordinary charge of $479,474 representing erroneous sales tax
receipts received by the Village of Oak Brook in prior years and resolved in
this current year.
The decrease in General Government expenditures is primarily due to reduction
in capital purchases. The prior year purchase of a mini-computer system
represents the major portion of this decrease.
Public safety expenditures , which represent our largest portion of
expenditures, increased by 5.8% over last year, primarily due to the changes
in expenses of personnel services.
The decrease in public works expenditures reflects the fact that virtually all
capital projects budgeted were deferred in order to balance revenues and
"- expenses and preserve a balanced budget.
In addition to the aforementioned expenditures, the Village transferred
$75 ,000 from the Corporate Fund to the Capital Projects Equipment Replacement
Fund which is earmarked for the purchase of fire equipment in fiscal year
1983/84.
The Village also abated $600,000 of the 1981 Sports Core tax levy as a result
of prior years' accumulated surpluses in the General Corporate Fund.
In compliance with Statement No . 4 issued by the National Council on
Governmental Accounting regarding recognition of employee vacation leave, our
fund balances have been restated as of April 30, 1982. (See Notes to
Financial Statements No. 1-g) .
The most significant fund balance restatement lies, of course, in the General
— Corporate Fund . Our 1982 General Corporate Fund Balance has been restated
from $4 ,098 ,925 to $3 ,991 ,802. Our 1983 General Corporate Fund Balance is
$3,851,731, a decrease of $140,071 from last year.
Debt Administration
The ratio of net bonded debt to assessed valuation and the amount of debt per
capita are useful indicators of the Village's debt position. This information
for the Village at April 30, 1983 as compared to April 30, 1982 is as follows:
April 30, 1983 April 30, 1982
Net Bonded Debt Total $8,591,384 $9,278,003
Ratio of Net Bonded Debt
to Assessed Valuation 2.696 3.157%
Net Bonded Debt Per Capita $ 1 ,294 $ 1 ,397
General obligation bonds were issued for the purchase of the Sports Core in
1977. At that time the Village also initiated a tax levy for purposes of
retiring the principal and interest payments of the bonds. Collections in
fiscal year 1982/83 totalled $274,766, or approximately 99% of the total 1981
tax levy. Due to the favorable fund balance in the General Corporate Fund,
the Village will abate the 1982 levy to be collected in 1983/84 by $300,000.
Reduced tax levy rates as the result of the abatements are indicated below:
11
1982 - $.1645 per $100 of assessed valuation
1981 - $.0944 per $100 of assessed valuation
1980 - $.2010 per $100 of assessed valuation
1979 - $.2265 per $100 of assessed valuation
1978 - $.3495 per $100 of assessed valuation
The general obligation bonds are due to be retired in December, 1994.
-- In addition, the Village has outstanding revenue bonds for the Waterworks
System Fund . Schedules of maturities of both bond issues are located in the
Notes to Financial Statement of the report.
The Village's bonds have the following ratings:
Moo's Investors Service
General Obligation Bonds A a
1973 Water Works Revenue Bonds A
1976 Water Works Revenue Bonds A
Cash Management
It is the policy of the Village of Oak Brook to invest idle cash and increase
investment income by the efficient use of savings accounts, certificates of
deposit, repurchase agreements, and the Illinois Public Treasurer's Investment
Pool. At April 30, 1983, the Village's cash resources for all funds exclusive
of Trust funds were distributed as follows:
�- Treasurer's Investment Pool 7.3%
Repurchase Agreements 6.7%
Certificates of Deposit 86.0%
— In 1982/83 we received $773,170 in interest income. The average yield on
investments maturing during the year was 12.5% versus an average yield in
1981/82 of 15.6%.
Capital Projects Funds
The proceeds of the general obligation bond issue are accounted for in the
Sports Core Construction Fund until improvement projects are completed. At
the end of the fiscal year completed projects are transferred to enterprise
fund fixed assets. During fiscal year 1982/83 projects financed by general
obligation bonds and related interest on investments were completed at a cost
of $27,393.
The Equipment Replacement Fund also accounted for a transfer made to it from
the General Corporate Fund in anticipation of the purchase of fire equipment
within the next year.
The total Capital Projects Funds balance on hand at April 30, 1983 was
represented by investments totalling $211,646.
Special Service Area No. 1 Fund
In September, 1981, this Special Service Area was created for the replacement
of gas lights with electric lights in the York Woods Subdivision, pursuant to
the request made by the York Woods Homeowners Association.
12
Funding of this project was shared between the Village at 30% and the
residents within the Special Service Area at 70%. The residential portion of
the funding will be collected via a tax levy through 1986.
General Fixed Assets
The general fixed assets of the Village are those fixed assets used in the
performance of general governmental functions and exclude the fixed assets of
the Enterprise Fund . As of April 30, 1983, the general fixed assets of the
.— Village amounted to $9,591,856. This amount represents the original cost of
the assets and is considerably less than their present value. Depreciation of
general fixed assets is not recognized in the Village's accounting system.
Waterworks System Fund
The Village's water utility continues to show gains in operating revenues,
number of customers, net income and debt service coverage as we continue the
program of increasing rates about 5% annually. Comparative data for the past
two fiscal years are presented in the following tabulation:
1983 1982
Water Sales $1,340,765 $11145,987
Water Connection Charges 161,908 193,303
Total Operating Revenue 1,698,313 1,507,831
Total Operating Expenses 770,744 652,961
Amount Available for Debt Service 1 ,462,325 1,378,229
Average Annual Debt Service 485,308 490,752
Coverage (amount available for debt
�. service divided by average
annual debt service) 3.01 2.81
During the year , $300,000 of regularly maturing revenue bonds were retired in
the Waterworks System Fund . Since fiscal year 1976/77 our debt coverage as
defined above has increased from 2.07 to 3.01.
Sports Core Fund
.� The 1983 financial statements reflect the second year of operation of the
18-hole golf course and expanded operations of the Bath & Tennis Club .
Operating revenues and interest income totalled $1 ,245,999• Operating
expenditures excluding depreciation totalled $1,108,535. Major department
activity is summarized as follows:
Revenues and Interest Income
Description Amount % of Total
Golf Course $ 625,455 50.2%
Bath and Tennis Club 526,265 42.2
Open Fields 52,981 4.2
Administration, July 4th & Oak Brook Day 23,403 1.9
Interest Income 17,895 1.5
$1 ,245,999 100%
13
Operating Expenses
Description Amount of Total
Golf Course $ 411,241 37.1%
Bath and Tennis Club 520,727 47.0
Open Fields 622847 5.7
Administration, July 4th & Oak Brook Day 113,720 10.2
$1,108;535 100%
Independent Audit
Statutes require an annual audit to be made of the books of account, financial
records , and transactions of all administrative departments of the Village by
independent certified public accountants selected by the Board of Trustees.
This requirement has been complied with and the auditor's opinion has been
included in this report.
Certificate of Conformance
The Municipal Finance Officers Association of the United States and Canada
(MFOA) awarded a Certificate of Conformance in Financial Reporting to the
Village of Oak Brook for its comprehensive annual financial report for the
fiscal year ended April 30, 1982.
In order to be awarded a Certificate of Conformance, a governmental unit must
publish an easily readable and efficiently organized comprehensive annual
financial report, whose contents conform to program standards. Such reports
must satisfy both generally accepted accounting principles and applicable
legal requirements.
A Certificate of Conformance is valid for a period of one year only. We
believe our current report conforms to Certificate of Conformance Program
requirements, and we are submitting it to MFOA to determine its eligibility
for a certificate.
Future Considerations
As we celebrate our Silver Anniversary , we can look on our past
accomplishments with pride. We know that the challenges of the future will be
met with the same dedication and commitment as we have enjoyed in the past.
In 1979 , the Village joined the Intergovernmental Risk Management Agency to
provide for conventional liability and property insurance coverage by using a
self-insurance pooling approach. IRMA has grown from 14 member communities to
37 members with an estimated savings over the past five years of 36% over
conventional insurance. Based upon the Village' s savings , estimated at
$347,000 since joining IRMA, we recently expressed our desire to continue as a
member through December, 1987. The Village is committed to a program of risk
management in order to minimize the resourses lost and maximize our savings in
the future. -
A similar concept to the self-insurance pooling approach was started by a
group of communities in 1979 for employee life and medical insurance. This
group, known as the Intergovernmental Personnel Benefit Cooperative (IPBC) ,
has experienced a similar success rate to that of IRMA.
14
In March, 1983, the Village of Oak Brook became the fifteenth member of IPBC,
and we are confident that the savings over conventional insurance will
continue.
The Village of Oak Brook is an original member of the Du Page Water Commission,
established to deliver Lake Michigan Water to DuPage County communities.
Currently, the Commission is investigating various methods of financing,
alternative designs and associated costs necessary to start the project. The
Commission is also negotiating a long term contract with the City of Chicago
_ to purchase treated Lake Michigan Water. We believe that these items will be
finalized in 1983 and construction of facilities will be completed by 1987.
Lake Michigan Water will then replace the deep well water currently being
supplied to our customers.
Acknowledgements
The preparation of this report on a timely basis could not be accomplished
without the efficient and dedicated services of the entire staff of the
Village of Oak Brook. We wish to express our appreciation to those persons
who have made possible the publication of this report , and to thank the
members of the Board of Trustees for their interest and support in planning
and conducting the financial operations of the Village in a responsible and
progressive manner.
Respectfully submitted,
a �
Kenneth G. Carmignani
Village Manager
_ U
Kathleen A. Gregory
—
Finance Officer
—
15
rtif i t
C e ca e
of
Conformance
in Financial
Reporting
Presented to
Village of
Oak Brook , Illinois
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
April 30, 1982
A Certificate of Conformance in Financial Reporting is
presented by the Municipal Finance Officers Association
of the United States and Canada to governmental units
and public employee retirement systems whose comprehensive
annual financial reports (CAFR's) are judged to substantially
conform to program standards.
�cE
OFF, C. 14 .a L
THE
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_ Executive Director
16
'- FINANCIAL SECTION
17
PEAT Peat,Marwick,Mitchell & Co.
_ Certified Public Accountants
rF3 MARMCK The Drake Oakbrook Plaza
2211 York Road
Oak Brook,Illinois 60521
ACCOUNTANTS' REPORT
President, Board of Trustees and
Village Manager
Village of Oak Brook, Illinois:
We have examined the combined financial statements of the Village of
Oak Brook, Illinois and its combining and individual fund financial
statements as of and for the year ended April 30, 1983, as listed in the
accompanying table of contents. Our examination was made in accordance with
generally accepted auditing standards and, accordingly, included such tests
of the accounting records and such other auditing procedures as we considered
e necessary in the circumstances.
In our opinion, the aforementioned combined financial statements present
fairly the financial position of the Village of Oak Brook, Illinois at
April 30, 1983, and the results of its operations and the changes in
financial position of its proprietary fund types and similar trust funds for
the year then ended, in conformity with generally accepted accounting
-- principles applied on a basis consistent with that of the preceding year,
after giving retroactive effect to the change, with which we concur, in the
method of accounting for compensated absences as described in note 1(g) of
notes to financial statements. Also, in our opinion, the aforementioned
combining and individual fund financial statements present fairly the
financial position of the individual funds of the Village of Oak Brook,
Illinois at April 30, 1983, their results of operations, 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
applied on a basis consistent with that of the preceding year, after giving
retroactive effect to the change, with which we concur, in the method of
accounting for compensated absences as described in note 1(g) of notes to
financial statements.
Our examination was made for the purpose of forming an opinion on the basic
financial statements taken as a whole. The accompanying financial
information listed as schedules in the table of contents is presented for
purposes of additional analysis and is not a required part of the basic
financial statements. The information has been subjected to the auditing
procedures applied in the examination of the basic financial statements and,
in our opinion, is fairly stated in all material respects in relation to the
basic financial statements taken as a whole.
June 24, 1983
18
VILLAGE OF OAK BROOK, ILLINOIS
Combined Balance Sheet - All Fund Types and Account Groups
April 30, 1983
Governmental fund types
General Special Debt Capital a
Assets and Other Debits Corporate Revenue Service Projects
Cash $ 748 - - -
Investments 3,049,504 173,001 301,737 211,646
Receivables (net, where applicable, of
allowances for uncollectibles) :
Sales taxes 1,033,927 - - - i.
Property taxes (note 2) - 6,064 524,307 -
State income taxes 24,243 - - -
Customers: _
Billed water sales - - - -
Estimated unbilled water sales - - - -
Allotments - 7,872 - -
Accrued interest 109,680 748 13,922 - '-
Other 8,038 - - -
Total receivables 1,175,888 14,684 538,229 -
Due from other funds 39,219 - - -
Due from other agencies (note 8) 175,020 - - - _
Prepaid expenses 3,117 - - -
Inventory of supplies, at cost 14,947 - - -
Unamortized bond discount - - - -
Restricted assets per bond ordinance -
cash and investments - - - -
Fixed assets (net of allowance for
depreciation for proprietary funds) - - - -
Amount available in Debt Service Funds - - - -
Amounts to be provided for retirement of
long-term debt - - - -
Total assets and other debits $ 4,458,443 187,685 839,966 2112646
See accompanying notes to financial statements.
19
Exhibit 1
VILLAGE OF OAK BROOK, ILLINOIS
Combined Balance Sheet - All Fund Types and Account Groups
April 30, 1983
Fiduciary Account groups
Proprietary fund type General General Total
fund type Trust and Fixed Long-term (memorandum
Enterprise Agency Assets Debt only)
16,220 43 - - 17,011
205,581 6,118,583 - - 10,060,052
- - - - 1,033,927
- - - - 530,371
- - - - 24,243
60,366 - - - 60,366
202,400 - - - 202,400
- - - - 7,872
84,152 180,971 - - 389,473
58,740 - - - 66,778
405,658 180,971 - - 2,315,430
- 65,314 - - 104,533
- - - - 175,020
89,673 - - - 92,790
24,200 - - - 39,147
56,396 - - - 56,396
2,435,366 - - - 2,435,366
17,427,533 - 9,591,856 - 27,019,389
- - - 120,337 120,337
- - 8,5912384 8,591,384
20,660,627 6,364,911 9,591,856 8,711,721 51,026,855
(Continued)
20
VILLAGE OF OAK BROOK, ILLINOIS
Combined Balance Sheet - All Fund Types and Account Groups, Continued
Governmental fund types
General Special Debt Capital
Liabilities Corporate Revenue Service Projects
Accounts payable $ 159,794 18 - -
Accrued payroll 80,033 - - - —'
Accrued vacation liability (note 1(g)) 123,921 - -
Customer deposits - - - -
Due to other funds 65,314 26,420 - - •.
Current interest payable - - 200,650 -
Deferred tax revenue (note 2) - 6,064 518,979 -
Construction performance bonds 177,650 - - -
Revenue bonds - - - -
General obligation recreation bonds - - - -
Note payable - - - -
Total liabilities 606,712 32,502 719,629 -
Fund Equity
Contributed capital - - - -
Investment in general fixed assets - - - -
Retained earnings:
Reserved according to bond ordinance - - - -
Unreserved - - - -
Fund balance (deficit) :
Reserved for encumbrances 4,748 - - -
Reserved for inventory 14,947 - - -
Reserved for debt service - - 120,337 -
Reserved for employees' retirement:
Statutory minimum - - - -
Amounts in excess of statutory minimum - - - -
Unreserved:
Designated for subsequent year's
expenditures (note 9) 25,868 60,394 - 190,000
Undesignated 3,806,168 94,789 - 21,646
Total retained earnings/fund
balance 3,851,731 155,183 120,337 211,646
Total fund equity 3,851,731 155,183 120,337 211,646
Total liabilities and fund equity $4,458,443 187,685 839,966 211,646
See accompanying notes to financial statements.
21
Exhibit 1
r..
VILLAGE OF OAK BROOK, ILLINOIS
Combined Balance Sheet All Fund Types and Account Groups, Continued
Fiduciary Account groups
Proprietary fund type General General Total
fund type Trust and Fixed Long-term (memorandum
Enterprise Agency Assets Debt only)
128,836 - - - 288,648
6,331 - - - 86,364
8,832 - - 41,616 174,369
!' 140,864 - - - 140,864
12,799 - - - 104,533 ,
- - - 200,650
- - - - 525,043
- - - - 177,650
4,700,000 - - - 4,700,000
- - - 8,650,000 8,650,000
- - - 20,105 20,105
4,997,662 - - 8,711,721 15,068,226
+- 11,025,590 - - - 11,025,590
- - 9,591,856 - 9,591,856
2,435,366 - - - 2,435,366
2,202,009 - - - 29202,009
- - - - 4,748
- - - - 14,947
•- - - - - 120,337
- 370,000 - - 370,000
5,549,804 - - 5,549,804
- - - 276,262
- 445,107 - - 4,367,710
4,637,375 61364,911 - - 152341,183
15,662,965 6,364,911 9,591,856 - 35,958,629
i
20,660,627 6,364,911 9,591,856 8,711,721 51,0262855
22
Exhibit 2
VILLAGE OF OAK BROOK, ILLINOIS
Combined Statement of Revenues, Expenditures, and Changes
in Fund Balances - All Governmental Fund Types
Year ended April 30, 1983
Total
General Special Debt Capital (memorandum
Corporate' Revenue Service Projects only)
Revenues:
Intergovernmental $ 4,807,484 148,435 - - 4,955,919
Property taxes - - 352,932 - 352,932
Licenses and permits 212,984 - - - 212,984 _
Service charges 159,897 - - - 159,897
Fines and penalties 139,872 - - - 139,872
Interest on investments 413,163 10,813 48,561 66 472,603
Miscellaneous 13,314 - - - 13,314
Total revenues 5,746,714 159,248 401,493 66 6,307,521
Expenditures:
Current:
Legislative 193,109 - - - 193,109
General government 878,409 - - - 878,409 ,y
Public safety 3,396,808 - - - 3,396,808
Public works 811,437 1,550 - - 812,987
Culture and recreation 113,037 - - 113,037
Administration - - - 85 85
Capital outlay - - - 27,308 27,308
Debt service:
Principal retirement - - 500,000 - 500,000
Interest and fees - - 412,849 - 412,849
Total expenditures 5,392,800 1,550 912,849 27,393 6,334,592
Excess (deficiency) of
revenues over
expenditures 353,914 157,698 (511,356) (27,327) (27,071)
Other financing sources (uses):
Operating transfers in 190,110 - 600,001 227,463 1,017,574
Operating transfers out (684,095) (50,110) (131,463) - (865,668) x
Total other financing
sources (uses) (493,985) (50,110) 468,538 227,463 151,906
Excess (deficiency) of
revenues and other
sources over expendi-
tures and other uses (140,071) 107,588 (42,818) 200,136 124,835
Fund balance at April 30, 1982
(note 1(g)) 3,991,802 47,595 163,155 11,510 4,214,062
Fund balance at April 30, 1983 $ 3,851,731 155,183 120,337 211,646 4,338,897
See accompanying notes to financial statements.
1
23
Exhibit 4
VILLAGE OF OAK BROOK, ILLINOIS
Combined Statement of Revenues, Expenses, and Changes in
Retained Earnings/Fund Balances - All Proprietary
Fund Types and Similar Trust Funds
Year ended April 30, 1983
Proprietary Fiduciary Total
fund types fund types (memorandum
Enterprise Pension Trust only)
Operating revenues:
Charges for services $ 2,849,985 - 2,849,985
Interest on investments - 682,224 682,224
Contributions:
Employees - 152,797 152,797
Village - 486,593 486,593
Miscellaneous 76,432 100 76,532
Total operating revenues 2,926,417 113211714 4,248,131
Operating expenses:
Operation of facilities 1,503,089 - 1,503,089
General and administrative 145,706 1,392 , 147,098
Depreciation 452,991 - 452,991
Benefit payments - 48,554 48,554
Refunds - 4,504 4,504
Total operating expenses 2,101,786 " 54,450 27156,236
Operating income 824,631 12267464 2,091,895
Nonoperating revenues (expenses) :
Interest on investments 300,567 - 300,567
" Interest on bonds (261,525)" - (261,525)
Amortization of bond discount (5,788)= - (5,788)
Fiscal agents' fees (402)' - (402)
Construction reimbursements 219600 - 21,600
54,452 - 54,452
Income before operating
transfers 879,083 1,267,264 2,146,347
Operating transfers in 9,095 - 9,095
Operating transfers out (161,000) h - (161,000)
Net income 727,178 1,267,264 1,994,442
Retained earnings/fund balance at
April 30, 1982 (note 1(g)) 31910,197 5,097,647 9,0071844
Retained earnings/fund balance at
April 30, 1983 $ 4,637,375 6,364,911 11,002,286
See accompanying notes to financial statements.
26
Exhibit 5
VILLAGE OF OAK BROOK, ILLINOIS
Combined Statement of Changes in Financial Position - All
Proprietary Fund Types and Similar Trust Funds
Year ended April 30, 1983
Proprietary Fiduciary Total
fund types fund types (memorandum
Enterprise Pension Trust only)
Sources of working capital:
Operations:
Net income $ 727,178 1,267,264 1,994,442 .�
Items not requiring working
capital:
Depreciation 452,991 - 452,991
Amortization of bond discount 51788 - 5,788
Total provided by operations 1,185,957 1,267,264 2,453,221
Contributed capital 27,308 - 27,308
Total sources of working
capital 1,213,265 1,267,264 . 2,480,529
Uses of working capital:
Acquisition of fixed assets 311,148 - 311,148
Reduction in bonds payable 300,000 - 300,000
Net increase in restricted assets 596,013 - 596,013
Net increase in pension investments - 1,223,937 1,223,937
Total uses of working
capital 1,207,161 1,223,937 2,431,098
r.
Net increase in working
capital $ 6,104 43,327 49,431
Elements of net increase (decrease) in y
working capital:
Cash 11,913 12 11,925
Investments (43,546) - (43,546)
Receivables 177,554 60,850 238,404
Due from other funds - (17,535) (17,535)
Due from restricted accounts (194,407) - (194,407)
Prepaid expenses 28,240 - 28,240
Inventory 24,200 - 24,200
Accounts payable 9,000 - 9,000
Accrued payroll 4,235 - 4,235
Accrued vacation liability (1,307) - (1,307)
Deposits (9,341) - (9,341)
Due to other funds (437) - (437)
Net increase in working
capital $ 6,104 43,327 49,431
See accompanying notes to financial statements.
27 �`
VILLAGE OF OAK BROOK, ILLINOIS
Notes to Financial Statements
April 30, 1983
low
(1) Summary of Significant Accounting Policies
The Village of Oak Brook, Illinois (Village) was incorporated
February 21, 1958. The Village operates under a Board of Trustees-
Manager form of government and provides the following services as
authorized by its charter: public safety (police and fire), highways
and streets, recreation (golf course and bath and tennis club), water,
public improvements, planning and zoning, and general administrative
R- services.
The accounting policies of the Village conform to generally accepted
accounting principles (GAAP) as applicable to governments. The
following is a summary of the more significant policies:
(a) Basis of Presentation - Fund Accounting
The accounts of the Village are organized on the basis of funds and
account groups, each of which is considered a separate accounting
... entity. The operations of each fund are accounted for with a separate
set of self-balancing accounts that comprise its assets, liabilities,
fund equity, revenues, and expenditures, or expenses, as appropriate.
Government resources are allocated to and accounted for in individual
•.- funds based upon the purposes for which they are to be spent and the
means by which spending activities are controlled. The various funds
are grouped, in the financial statements in this report, into six
generic fund types and three broad fund categories as follows:
Governmental Fund Types
Governmental funds are those through which most governmental
functions of the Village are financed. The Village's
expendable financial resources (except those accounted for in
proprietary funds) are accounted for through governmental
funds. The measurement focus is upon determination of
changes in financial position, rather than upon net income
.� determination. The following are the Village's governmental
fund types:
General Corporate Fund - The General Corporate Fund is
the general operating fund of the Village. It is
used to account for all financial resources except
those required to be accounted for in another fund.
Special Revenue Funds - Special Revenue Funds are used
to account for the proceeds of specific revenue
sources (other than major capital projects) that are
legally restricted to expenditures for specified -
purposes.
-- (Continued)
28
VILLAGE OF OAK BROOK, ILLINOIS
Notes to Financial Statements
Debt Service Fund - The Debt Service Fund is used to
account for the accumulation of resources for, and
the payment of, general obligation long-term debt
principal, interest, and related costs. The
Village's only Debt Service Fund is for the Sports
Core recreation bonds.
y.
Capital Projects Funds - Capital Projects Funds are
used to account for financial resources to be used
for the acquisition or construction of major capital
items (other than those financed by proprietary
funds)..
Proprietary Fund Type
Proprietary funds are used to account for the Village's ongoing
organizations and activities which are similar to those often
found in the private sector. The measurement focus is upon
determination of net income.
Enterprise Funds - Enterprise Funds are used to account
for operations (a) that are financed and operated in
a manner similar to private business enterprises -
where the intent of the governing body is that the
costs (expenses, including depreciation) of
providing goods or services to the general public on
a continuing basis be financed or recovered -•
primarily through user charges; or (b) where the
governing body has decided that periodic
determination of revenues earned, expenses incurred,
and/or net income is appropriate for capital
maintenance, public policy, management control,
accountability, or other purposes.
Fiduciary Fund Type
Fiduciary funds are used to account for assets held by the Village =
in a trustee capacity or as an agent for individuals, private
organizations, other governmental units, and/or other funds.
Trust Funds - Trust Funds are used to account for assets
held by the Village in a trustee capacity. These
include the Police and Firemen's Pension Trust Funds.
These funds are accounted for in essentially the same
manner as proprietary funds.
(Continued)
29
VILLAGE OF OAK BROOK, ILLINOIS
s.
Notes to Financial Statements
Account Groups
Account groups are used to establish accounting control and
accountability for the Village's general fixed assets and
general long-term debt. The following are the Village's
account groups:
General Fixed Assets Account Group - This group of
accounts is established to account for all fixed
assets of the Village, other than those accounted
for in the proprietary funds and trust funds.
General Long-term Debt Account Group - This group of
accounts is established to account for all long-term
debt of the Village except that accounted for in the
proprietary funds.
Fixed assets used in governmental fund type operations (general fixed
assets) are accounted for in the General Fixed Assets Account Group,
rather than in governmental funds. Public domain ("infrastructure")
general fixed assets consisting of certain improvements other than
buildings, including roads, bridges, curbs and gutters, streets and
sidewalks, drainage systems, and lighting systems are capitalized
along with other general fixed assets. No depreciation has been
provided on general fixed assets.
All fixed assets are valued at historical cost or estimated historical
cost if actual historical cost is not available. Donated fixed assets
are valued at their estimated fair value on the date donated.
Long-term liabilities expected to be financed from governmental funds are
.� accounted for in the General Long-term Debt Account Group, not in the
governmental funds.
Depreciation of all exhaustible fixed assets used by proprietary funds is
charged as an expense against their operations. Accumulated
depreciation is reported on proprietary fund balance sheets.
Depreciation has been provided over the estimated useful lives using
the straight-line method. The estimated useful lives are as follows:
Buildings 40 years
Waterworks system 10-40 years
Improvements other than buildings 10-20 years
Tennis courts and pools 15-20 years
Equipment 5-10 years
(Continued)
30
VILLAGE OF OAK BROOK, ILLINOIS -..
Notes to Financial Statements
(b) Basis of Accounting
Basis of accounting refers to when revenues and expenditures or expenses
are recognized in the accounts and reported in the financial
statements. Basis of accounting relates to the timing of the
measurements made, regardless of the measurement focus applied.
All governmental funds are accounted for using the modified accrual basis
of accounting. Their revenues are recognized when they become
measurable and available as net current assets. Shared revenues
remitted from the state government, such as the state motor fuel tax
allotments, state income taxes, and state sales taxes were accrued
applying the susceptible to accrual concept based upon the month they
were collected by the state.
In applying the susceptible to accrual concept to intergovernmental
revenues, the legal and contractual requirements of the numerous
individual programs are used as guidance. There are, however,
essentially two types of these revenues. In one, monies must be
expended on the specific purpose or project before any amounts will be
paid to the Village; therefore, revenues are recognized based upon the
expenditures recorded. In the other, monies are virtually
unrestricted as to purpose of expenditure and are usually revocable
only for failure to comply with prescribed compliance requirements.
These resources are reflected as revenues at the time of receipt or
earlier if the susceptible to accrual criteria are met.
i
Licenses and permits, charges for services (other than enterprise funds),
and miscellaneous revenues (except investment earnings) are recorded
as revenues when received in cash because they are generally not
measurable until actually received. Investment earnings are recorded
as earned since they are measurable and available (see note 2 for
property tax accrual policy).
Expenditures are recognized under the modified accrual basis of
accounting when the related fund liability is incurred. An exception
to this general rule is principal and interest on general long-term
debt. (See note 2 for expenditure recognition policy).
All proprietary funds and pension trust funds are accounted for using the
accrual basis of accounting. Their revenues are recognized when they
are earned, and their expenses are recognized when they are incurred.
Unbilled Waterworks System Fund utility service receivables are
recorded at year end. y
(Continued)
a
31
VILLAGE OF OAR BROOK, ILLINOIS
Notes to Financial Statements
(c) Budgets and Budgetary Accounting
The Village follows these procedures in establishing the budgetary data
reflected in the financial statements:
(1) Prior to March 1, a proposed operating budget for the fiscal
year commencing the following May 1 is prepared by the
department heads, reviewed by the Village Manager and
-- Village Treasurer, and submitted to the Board of Trustees
for their review. The operating budget includes proposed
expenditures for all funds of the Village.
(2) Public hearings are conducted to obtain taxpayer comments.
(3) Prior to August 1, the budget, which is 10% greater than the
�.. proposed operating budget, is legally enacted through
passage of an ordinance. All appropriations lapse at
year end.
(4) Any revisions that alter the total expenditures of any fund
must be approved by the Board of Trustees. During the
current fiscal year no such revisions were made.
(5) Budgets are legally adopted for all funds. Formal budgetary
integration is employed as a management control device
during the year. Expenditures may not legally exceed
b' appropriations on a fund basis for each legally adopted
annual budget.
(6) All budgets are prepared on the cash basis. Budgetary
comparisons presented in this report are on this non-GAAP
basis.
(d) Encumbrances
Encumbrance accounting, under which purchase orders, contracts, and other
... commitments for the expenditure of monies are recorded in order to
reserve that portion of the applicable appropriation, is employed as
an extension of formal budgetary integration in the governmental
funds. Encumbrances outstanding at year end are reported as
*" reservations of fund balances since they do not constitute
expenditures or liabilities.
w^ (e) Investments
Investments are stated at cost or amortized cost, which approximates
market for all but the Police and Fire Pension Funds. For these
funds, market value was $3,036,351 and $3,311,047 as compared to their
recorded cost of $2,933,309 and $3,185,274, respectively, at April 30,
1983.
(continued)
32
VILLAGE OF OAK BROOK, ILLINOIS
Notes to Financial Statements
..o
(f) Inventory
Inventory is valued at lower of cost (first-in, first-out) or market (net
realizable value). Inventory in the General Fund consists of
expendable supplies held for consumption. Inventory in the Sports
Core Enterprise Fund consists of similar supplies as well as inventory
of the golf shop held for resale. The cost is recorded as an
expenditure/expense at the time individual inventory items are
utilized. Reported General Fund inventories are equally offset by a
fund balance reserve which indicates that they do not constitute
"available spendable resources" even though they are a component of
net current assets.
(g) Unpaid Vacation and Sick Pay
Vacation pay is computed and earned on a calendar year basis. Vacation
earned must be taken before the end of the next calendar year.
Employees are not allowed a given number of sick days a year; any sick
leave is at the discretion of the department heads.
Prior to May 1, 1982 vacation leave was accounted for as disbursed and
included in salaries and wages. However, in fiscal 1983 the Village
adopted the provisions of Statement No. 4 issued by the National
Council on Governmental Accounting (NCGA) regarding recognition of
liabilities for compensated absences. Accumulated unpaid vacation pay
is now accrued when incurred in the proprietary funds. For
governmental funds, the current portion of the liability is reported
in the individual fund, and the remainder is reported in the General
Long-term Debt Account Group.
As required by Statement No. 4, adoption of this change in accounting for
compensated absences was made as of the beginning of the current
fiscal year, and fund balances as of April 30, 1982 have been
restated. The effect of these restatements were to decrease fund
balances at April 30, 1982 for the General Fund, Waterworks System
Fund, and Sports Core Fund by $107,123, $3,953, and $3,572,
respectively. Likewise, the General Long-term Debt Account Group has
been restated by $35,708 at April 30, 1982.
(h) Total Columns on Combined Statements
Total columns on the combined 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 is
such data comparable to a consolidation. Interfund eliminations have
not been made in the aggregation of this data.
(Continued)
33
VILLAGE OF OAK BROOK, ILLINOIS
Notes to Financial Statements
(i) Reporting Entity
During the fiscal year ended April 30, 1983 the National Council on
Governmental Accounting (NCGA) Statement No. 3 "Defining the
Governmental Reporting Entity" became effective. This statement
concluded that the basis - but not the only - criterion for including
a governmental department, agency, institution, commission, public
authority, or other governmental organization in a governmental unit's
reporting entity for general purpose financial reports is the exercise
of oversight responsibility over such agencies by the governmental
unit's elected officials. The Village has reviewed NCGA Statement
No. 3 and has determined that no change in the reporting entities
included in its general purpose financial reports is required in order
to comply with the provisions of the Statement.
w-
(2) Property Taxes
�- The Village's property tax is levied each calendar year on all taxable
real property located in the Village. The Village levies taxes only
for the payment of principal and interest on general obligation long-
term debt and for Special Service Area No. 1.
Property taxes attach as an enforceable lien on property as of January 1.
Taxes are levied on March 1 (DuPage County) and become due and payable
�. in two installments on June 1 and September 1 during the following
fiscal year. Taxes are billed and collected by county officials.
�- As of May 1, 1981 the Village adopted the provisions of Interpretation
No. 3 issued by the National Council on Governmental Accounting (NCGA)
regarding revenue recognition of property taxes. Since 1982 property
tax revenues are not due within the current fiscal year, the most
recent tax levy (1982) has not been recognized as current revenues.
The receivable for the current tax levy has been recognized on the
balance sheets along with a corresponding amount of deferred revenue.
Likewise, the debt service payments and liabilities related to the
1982 levy are not reflected in the General Corporate or Debt Service
Fund. These liabilities are reflected in the general long-term debt
account group.
(3) Fixed Assets
Changes in General Fixed Assets
A summary of changes in general fixed assets is as shown on the following
page.
.A
34
VILLAGE OF OAK BROOK, ILLINOIS
Notes to Financial Statements
(3) Continued
Balance at Balance at
Apr.30,1982 Additions Deductions Apr.30,1983
Land $ 188,741 - - 188,741
Buildings and
improvements 4,635,543 12,354 - 4,647,897
Furniture and fixtures 247,566 958 - 248,524
Roadway improvement 2,669,149 89,945 - 2,759,094
Automotive equipment 601,335 93,947 66,903 628,379
Other equipment 910,390 26,723 4,749 932,364
Library books 162,477 247380 - 186,857
$ 9,415,201 248,307 71,652 9,591,856
Proprietary Fund Type Property,
Plant, and Equipemnt
Al
A summary of proprietary fund type property, plant, and equipment by fund
at April 30, 1983 follows:
Enterprise
Waterworks Sports
System Core
Fund Fund Total
Land and improvements $ 2,819 9,775,160 9,777,979
Buildings - 660,476 660,476
Waterworks system structures
and equipment 8,349,764 - 8,349,764
Improvements other than buildings - 238,951 238,951 _
Tennis courts and pools - 348,784 348,784
Equipment 92,175 138,179 2302354
8,444,758 112161,550 19,606,308
Less allowances for depreciation (1,497,809) (680,966) (2,178,775)
$ 6,9462949 10,480,584 17,427,533
(Continued)
35
VILLAGE OF OAK BROOK, ILLINOIS
Notes to Financial Statements
(4) Long-term debt
General Long-term Debt Account Group
A summary of transactions for the year ended April 30, 1983 follows:
General Accrued
Obligation vacation
Recreation liability
Bonds (note 1(g)) Other Total
... Balance at April 30, 1982 $ 9,150,000 35,708 255,450 9,441,158
Additions - 5,908 - 5,908
Retirements - - (235,345) (235,345)
Transfers to Debt Service
.- Fund (500,000) - - (500,000)
Balance at April 30, 1983 $ 8,650,000 41,616 20,105 8,711,721
A special election on June 21, 1977 authorized and approved the issuance
y. of $10,270,000 General Obligation Recreation Bonds - Sports Core. The
bonds were sold and delivered as of September 1, 1977 for $10,270,408.
Principal on the bonds is due serially December 1, 1979 to December 1,
1994. Interest is payable on each June 1 and December 1, at rates
from 4.30% to 4.90%. The Village levies taxes for retirement of the
bonds which is accounted for by the Debt Service Fund.
�- Waterworks Revenue Bonds
A summary of transactions for the year ended April 30, 1983 follows:
Waterworks Revenue Bonds
1973 Series 1976 Series Total
Balance at April 30, 1982 $ 2,625,000 2,375,000 5,000,000
Retirements (125,000) (175,000) (300,000)
�- Balance at April 30, 1983 $ 2,500,000 2,200,000 4,700,000
The Waterworks Revenue Bonds were issued to fund the acquisition and
expansion of the Village's water system.
(Continued)
36
VILLAGE OF OAK BROOK, ILLINOIS
Notes to Financial Statements
The 1973 Series is due serially from May 1, 1983 to May 1, 1996, with interest at 4% to 6%. The 1976
Series is due serially from May 1, 1983 to May 1, 1992, with interest at 4.40% to 5.75%. Both
series are payable from water revenues.
Debt Requirements to Maturity
Waterworks Revenue Bonds General Obligation General Obligation
1973 Series 1976 Series Recreation Bonds Note payable
Principal Interest Principal Interest Principal Interest Principal Interest
Maturing as
r.
follows,
year ending
April 30:
1984 $ 125,000 122,225 200,000 123,875 500,000 401,300 20,105 92 -�
1985 150,000 115,725 200,000 112,875 600,000 379,800 - -
1986 150,000 108,075 200,000 101,875 600,000 354,000 - -
1987 150,000 100,575 225,000 90,875 600,000 328,200 - -
1988 175,000 93,075 225,000 78,500 700,000 302,400 - -
1989 175,000 84,325 250,000 66,125 700,000 270,200 - -
1990 200,000 75,400 275,000 51,750 700,000 238,000 - -
1991 200,000 65,200 300,000 35,938 800,000 205,800 - -
1992 200,000 54,800 325,000 18,687 800,000 167,400 - -
1993 225,000 44,400 - - 850,000 129,000 - -
1994 225,000 32,700 - - 900,000 88,200 - -
1995 250,000 21,000 - - 900,000 44,.100 - -
1996 275,000 11,000 - - - - - -
-
$ 2,500,000 928,500 2,200,000 680,500 8,650,000 2,908,400 20,105 92
(5) Waterworks System Fund
The ordinance authorizing the issuance of Waterworks Revenue Bonds Series 1973 and 1976 requires that
separate accounts be maintained in the fund designated as (balances in the accounts at April 30,
1983 are shown in parentheses): .•.
(a) Operation and maintenance account ($657,918)
(b) Bond and interest account ($29,329)
(c) Bond reserve account ($694,560)
(d) Depreciation, improvement, and extension account ($369,318)
(e) Surplus revenue account ($1,342,159)
(Continued)
37
VILLAGE OF OAK BROOK, ILLINOIS
a
Notes to Financial Statements
a/
On the first business day of each month all monies held in the fund are
�- to be transferred to the designated accounts as follows:
To the operation and maintanance account, an amount sufficient
to pay the reasonable expense of operation and maintenance for
the next succeeding month.
To the bond and interest account, an amount equal to 1/5th of
the interest and 1/10th of the principal becoming due on the
next payment date.
To the bond reserve account, $4,500 each month until all bonds
of this fund have been paid for or provision made for their
payment.
�- To the depreciation, improvement, and extension account, $8,250
each month (or a greater amount, as designated by the Board)
until a maximum of $400,000 is on deposit in said account.
To the . surplus revenue account, all surplus funds remaining
after providing for all of the deposits herein above listed.
... Funds accumulated in the bond reserve account shall be used only for the
payment of interest or principal whenever there exists a deficiency in
the bond and interest account. However, whenever the balance in said
account is equal to the maximum principal and interest requirements of
all outstanding bonds at the discretion of the President and Board of
Trustees, the surplus may be transferred to the depreciation,
improvement, and extension account or the surplus revenue account.
Funds accumulated in the depreciation, improvement, and extension account
shall be used to pay for any extraordinary maintenance, repairs, and
necessary replacements, or if not so needed, for improvement or
extension of the system.
Funds accumulated in the surplus revenue account shall be held and used
for the following purposes:
(a) for making up any deficiency in the accounts above,
(b) for making principal or interest payments on any junior lien
bonds, or
(c) for any lawful corporate purpose.
Funds accumulated in all but the operation and maintenance account have
been classified as restricted assets on the balance sheet at April 30,
1983.
(Continued)
38
VILLAGE OF OAK BROOK, ILLINOIS
i
Notes to Financial Statements
(6) Retirement Commitments
Village employees are covered under three, separate retirement plans.
Full-time Village police and firemen are covered by separate pension
trust funds established in accordance with state law. Other full-time
Village employees are covered by the Illinois Municipal Retirement
Fund (statewide program). Part-time employees (under 1,000 hours a
year) are covered by the United States Social Security system.
(a) Police Pension Fund
Funded Obligations
The Police Pension Fund covers substantially all uniformed members of the "
Village's police department. The plan is a single employer plan
administered by a separate Village Police Pension Board.
According to the governing act, the Board of Trustees of the Police
Pension Fund is required to establish and maintain a minimum reserve
balance of $10,000 for each policeman and each beneficiary. At
April 30, 1983 the minimum reserve balance (statutory requirement) of
$370,000 had been provided and in addition, the Board had exceeded the
minimum by $2,684,140 for total net accumulated assets of $3,054,140.
According to the governing act, the Board of Trustees of the Police
Pension Fund is required to establish and maintain a reserve not to
exceed the total actuarial requirements of the Fund. In
municipalities having less than the actuarial requirements of the
Fund, the Board shall designate the proportionate amount needed
annually to ensure the accumulation of such actuarial reserve over a
40-year period ending in 2020. The total actuarial requirements at
April 30, 1982 (the date of the latest actuarial valuation) amounted
to $3,294,750 as determined by the Illinois State Department of
Insurance. The actuarial reserve deficiency of $240,610 has been —
adjusted by the net transactions of the Fund for the year ended
April 30, 1983. However, the current normal costs and the resultant
liability for the year ended April 30, 1983 are not reflected as an
increase in the actuarial reserve deficiency because the date of the
Illinois State Department of Insurance determination was as of
April 30, 1982. -.
Contributions
Employer contributions made during the year ended April 30, 1983 were j
$201,044 based upon actuarial requirements determined by the Illinois
State Department of Insurance.
(Continued)
39
VILLAGE OF OAK BROOK, ILLINOIS
Notes to Financial Statements
(b) Firemen's Pension Fund
Funded Obligations
The Firemen's Pension Fund covers substantially all uniformed members of
the Village's fire department. The plan is a single employer plan
administered by a separate Village Firemen's Pension Board.
According to the governing act, the Board of Trustees of the Firemen's
Pension Fund is required to designate the proportionate amount needed
annually to amortize the actuarial reserve deficiency, as determined
-� by the Illinois State Department of Insurance over a 40-year period
ending in 2020. At April 30, 1982 (the date of the latest
computation), the actuarial requirements of the Fund amounted to
$2,625,054 as determined by the Illinois State Department of
Insurance. There was no actuarial reserve deficiency at April 30,
1983. The unreserved fund balance of $685,717 has been adjusted by
the net transactions of the fund for the year ended April 30, 1983.
However, the current normal costs and the resultant liability for the
year ended April 30, 1983 are not reflected as an increase in the
actuarial requirements because the date of the Illinois State
... Department of Insurance determination was as of April 30, 1982.
Contributions
Employer contributions made during the year ended April 30, 1983 were
$285,549 based upon the actuarial requirements determined by the
Illinois State Department of Insurance.
(c) Illinois Municipal Retirement Fund
-. As the Village does not have a property tax levy for funding retirement
benefits, no separate fund accountability is maintained for Illinois
Municipal Retirement Fund purposes. Expenditures for this purpose are
included in the Corporate, Waterworks System, and Sports Core Funds.
The Illinois Municipal Retirement Fund's (IMRF) actuary estimates that as
of December 31, 1982 (date of the latest computation) the present
value of total IMRF pension obligations to be borne by the Village of
Oak Brook, Illinois was $933,318. The Village had accumulated reserve
assets to be used toward this obligation of $281,266 on the same date.
.,. Therefore, the estimated present value of future contributions to be
made by the Village was $652,052. This pension obligation includes,
in addition to future normal costs of $284,006, the amount of unfunded
prior service cost computed to be $368,046. The amount of unfunded
prior service cost was computed by using actuarial assumptions
approved by the IMRF Board of Trustees.
(Continued)
40
VILLAGE OF OAK BROOK, ILLINOIS
Notes to Financial Statements
The annual Village contribution rate fixed by the IMRF Board of Trustees
provides for full funding of prior service costs, including interest
as determined actuarially over a future period of not more than 40
years, as well as the normal retirement costs, term cost of death and
disability benefits, and the cost of administration of the Fund.
Employer contributions made during the year ended April 30, 1983 were
$57,552.
(7) Interfund Balances
Individual interfund balances at April 30, 1983 are shown as follows:
Amounts payable from
Special Enterprise Funds
General Service Waterworks Sports
Corporate Area System Core
Amounts payable to Fund No.l Fund Fund Total
General Corporate Fund $ - 26,420 12,427 372 39,219
Fiduciary funds:
Police Pension Fund 29,672 - - - 29,672
Fire Pension Fund 35,642 - - - 35,642
Total $ 65,314 26,420 12,427 372 104,533
(8) Amounts Due from Other Agencies
The amount classified as due from other agencies in the General Corporate
Fund represents sales tax revenues of the Village which were
improperly allocated to other agencies by the Illinois Department of
Revenue in prior years. These under-allocations from prior years,
totaling $175,020, are to be remitted to the Village along with
regular sales tax revenues beginning in fiscal year 1984.
(9) Designations of Fund Balance
A portion of the General Corporate Fund balance at April 30, 1983 has
been designated for future expenditures to be made on bikepath
improvements that have been funded by transfers of approved monies
from the Federal Revenue Sharing Fund. In addition, the entire
remaining fund balance in the Federal Revenue Sharing Fund has been
designated for the same purpose.
(Continued)
41
VILLAGE OF OAK BROOK, ILLINOIS
�- Notes to Financial Statements
In addition, the entire fund balance of the Equipment Replacement Capital
Projects Fund has been designated for the purchase of fire equipment
in fiscal year 1983/1984.
(10) Excesses of Expenses over Appropriations
Expenses exceeded authorized appropriations for the Police Pension Fund
for the year ended April 30, 1983 by $4,755. The excess is due to
refunds for which no appropriations are made.
In addition, expenses exceeded authorized appropriations for the Sports
Core Fund for the year ended April 30, 1983 by $42,999. This was due
mostly to special event activities held at the Bath and Tennis Club
which led to additional revenues as well as additional expenses.
(11) Individual Fund Deficits
(a) Special Revenue Fund - Special
Service Area No. 1
The deficit in this fund of $26,420 exists because the expenditure for
street light improvements was made in 19829 while the related tax
.-- revenues will be received over a six-year period. This deficit will
be fully eliminated from future tax collections from residents of the
Special Service Area.
(b) Enterprise Fund - Sports Core
The Sports Core Fund deficit fund balance of $459,254 is due primarily to
depreciation expense. The deficit will be eliminated in the course of
future operations of the Sports Core.
(12) Contingent Liabilities
�. (a) Intergovernmental Risk Management Agency
Effective January 1, 1979 the Village entered into a contractual
agreement with 14 other municipalities to form the Intergovernmental
Risk Management Agency (IRMA), which through its risk-sharing
provisions, provides the Village with its insurance coverage for
liability, property damage, and workmen's compensation insurance. As
... a self-insurance administrator, IRMA enables risk-sharing with other
municipalities which in turn share their risks with the Village.
There are now 37 member municipalities of IRMA. At December 31, 1982
(Continued)
42
VILLAGE OF OAK BROOK, ILLINOIS
Notes to Financial Statements
IRMA has assets of $8,980,998 and reserves for losses of $4,796,242.
Should a claim be paid by IRMA for which these reserves proved
inadequate, the Village would be responsible for paying a portion of _
such deficiency. However, at April 30, 1983 management knows of no
claim, asserted or unasserted, which if asserted and paid would have a
materially adverse affect on the financial position of the various
funds of the Village at April 30, 1983.
Also, in March 1983 the Village of Oak Brook became the fifteenth member
of the Intergovernmental Personnel Benefit Cooperative (IPBC), which ...
provides risk-sharing provisions similar to IRMA for employee life and
medical insurance. Management knows of no material claim related to
this coverage.
(b) DuPage Water Commission
The Village is a participating member of the DuPage Water Commission
(Commission). The purpose of the Commission is to develop, construct,
and jointly operate a waterworks system and a common source of water
supply for the 22 member municipalities. This waterworks system, when
completed, will provide, pump, and store Lake Michigan water. The
expected completion date of the project is in 1987.
Under the Water Development Contract, the constructed assets will be the
property of the DuPage Water Commission. The Commission shall sell
Lake Michigan water to participating members at such terms and rates
as agreed upon by the Commission and the members.
Funding for this project will be provided by the issuance of $16,000,000
Interim Water Development Notes at an interest rate not to exceed 13%,
to be refinanced by long-term bonds when construction plans are
finalized. Each participating member will be severally liable for
their respective portions of the principal and interest on the interim
notes. The maximum liability the Village is expected to incur is _
approximately $1,502,575. The Village has not yet finalized their
plans for the funding of their portion of the notes. No payments have
yet been made by the Village on this project.
(c) Grant Participation
The Village participates in one federally assisted grant program, the ..
Federal Revenue Sharing Program. This program is subject to a
financial and compliance audit once every three years. The audit
requirement for years 1983, 1984, and 1985 has been satisfied and the
Village is in compliance with all expenditures allowed. The Village
also participates in the Illinois Motor Fuel Tax program. The latest
compliance audit was completed as of December 31, 1982 with all
expenditures being allowed by the grantors. --
(Continued)
43
VILLAGE OF OAK BROOK, ILLINOIS
Notes to Financial Statements
(13) Leases and Other Commitments
The Village has no material operating lease agreements or commitments.
VOW (14) Litigation
There are several pending lawsuits in which the Village is involved.
Management believes that the potential claims against the Village
resulting from such litigation would not materially affect the
financial statements of the Village.
(15) Enterprise Funds
Segment information for the year ended April 30, 1983 is as follows:
Waterworks Sports
System Core
Type of service Water service Recreation
.,� Operating revenues $ 1,698,313 1,228,104
Depreciation 230,484 222,507
Operating income (loss) 927,569 (102,938)
Operating transfers in - 9,095
Operating transfers out 140,000 21,000
Net income (loss) 824,126 (96,948)
Current capital contributions - 27,308
*� Property, plant, and equipment:
Additions 245,217 65,930
Deletions - -
,,. Net working capital 472,240 85,752
Total assets 9,859,077 10,801,550
Bonds outstanding 4,700,000 -
Total equity 5,0961629 10,566,336
A
44
*- COMBINING, INDIVIDUAL FUND, AND ACCOUNT GROUP
FINANCIAL STATEMENTS AND SCHEDULES
.a
45
i
GENERAL CORPORATE FUND
To account for resources traditionally associated with governments which are
not required to be accounted for in another fund.
Expenditures of the Village Library, Police and Fire Departments are accounted
for in this fund.
r
r
i
46
A-1
r
VILLAGE OF OAK BROOK, ILLINOIS
General Corporate Fund
Statement of Revenues, Expenditures, and Changes in Fund
Balance - Budget and Actual
Year ended April 30, 1983
Adjustment
to Actual on Variance
budgetary budgetary favorable
" Actual basis basis Budget (unfavorable)
Revenues:
Intergovernmental:
Municipal sales tax $ 4,559,420 (166,284) 4,393,136 5,082,000 (688,864)
Illinois state income tax 124,416 2,582 126,998 141,600 (14,602)
York Township road and bridge
tax 104,732 - 104,732 80,000 24,732
-- Foreign fire insurance tax 18,916 - 18,916 14,390 4,526
4,807,484 (163,702) 4,643,782 5,317,990 (674,208)
Licenses and permits 212,984 - 212,984 195,790 17,194
Service charges 159,897 (1,499) 158,398 194,432 (36,034)
Fines and penalties 139,872 - 139,872 143,572 (3,700)
Interest on investments 413,163 18,108 431,271 400,000 31,271
Miscellaneous 13,314 (6,066) 7,248 12,000 (4,752)
Total revenues 5,746,714 (153,159) 5,593,555 6,263,784 (670,229)
Expenditures:
Legislative 193,109 (51) 193,058 194,266 1,208
General government 878,409 (4,500) 873,909 1,010,891 136,982
Public safety 3,396,808 (19,981) 3,376,827 3,937,405 560,578
Public works 811,437 (47,149) 764,288 1,654,294 890,006
Culture and recreation 113,037 (413) 112,624 140,215 27,591
Total expenditures 5,392,800 (72,094) 5,320,706 6,937,071 1,616,365
Excess (deficiency) of
,.. revenues over
expenditures 353,914 (81,065) 272,849 (673,287) 946,136
Other financing sources (uses) :
�^ Operating transfers in 190,110 - 190,110 348,000 (157,890)
Operating transfers out (684,095) - (684,095) (752,785) 68,690
Total other financing
sources (uses) (493,985) - (493,985) (404,785) (89,200)
Excess (deficiency) of
revenues and other
sources over expendi-
tures and other uses (140,071) $ (81,065) (221,136) (1,078,072) 856,936
Fund balance at April 30, 1982
(note 1(g)) 3,991,802
Fund balance at April 30, 1983 $ 3,851,731
See accompanying notes to financial statements.
47
A-2
VILLAGE OF OAK BROOK, ILLINOIS
General Corporate Fund
Schedule of Expenditures - Budget and Actual
Year ended April 30, 1983
Adjustment
to Actual on Variance
budgetary budgetary favorable
Actual basis basis Budget (unfavorable)
Legislative:
Board of Trustees:
Personal services $ 5,658 (33) 5,625 5,126 (499)
Contractual services 157,087 - 157,087 154,744 (2,343)
Fixed charges 2,478 2 2,480 2,036 (444)
Commodities 4,814 - 4,814 3,795 (1,019) --
170,037 (31) 170,006. 165,701 (4,305)
Plan Commission:
Personal services 2,507 (9) 2,498 2,624 126
Contractual services 2,752 - 2,752 214 (2,538)
Fixed charges 289 (1) 288 300 12
Commodities 416 - 416 517 101
5,964 (10) 5,954 3,655 (2,299)
Board of Fire and Police:
Contractual services 10,613 - 10,613 19,800 9,187
Fixed charges 150 - 150 165 15
Commodities 97 - 97 27 (70)
10,860 - 10,860 19,992 9,132
Zoning Board of Appeals:
Personal services 2,507 (9) 2,498 2,623 125
Contractual services 2,940 - 2,940 1,643 (1,297) _
Fixed charges 289 (1) 288 300 12
Commodities 512 - 512 352 (160)
6,248 (10) 6,238 4,918 (1,320)
Total legislative 193,109 (51) 193,058 194,266 1,208
General Government:
Legal:
Personal services 52,313 (734) 51,579 61,016 9,437
Contractual services 2,379 - 2,379 4,868 2,489
Fixed charges 10,980 (46) 10,934 22,446 11,512
Commodities 2,020 - 2,020 2,860 840
67,692 (780) 66,912 91,190 24,278
Village Manager's office:
Personal services 120,512 (1,485) 119,027 129,712 10,685
Contractual services 2,829 - 2,829 5,363 2,534
Fixed charges 23,163 (63) 23,100 25,520 2,420
Commodities 4,888 - 4,888 3,659 (1,229)
Capital outlay - - - 4,010 4,010
$ 151,392 (1,548) 149,844 168,264 18,420
(Continued)
48
A-2, Cont_.
VILLAGE OF OAK BROOK, ILLINOIS
General Corporate Fund
Schedule of Expenditures - Budget and Actual
Adjustment
to Actual on Variance
budgetary budgetary favorable
Actual basis basis Budget (unfavorable)
General Government, continued:
Elections - contractual services $ 23 - 23 - (23)
Finance and accounting:
Personal services 98,711 (1,461) 97,250 111,474 14,224
Contractual services 28,146 - 28,146 29,066 920
Fixed charges 29,437 (42) 29,395 31,586 2,191
Commodities 4,557 - 4,557 5,226 669
Capital outlay 857 - 857 7,348 6,491
161,708 (1,503) 160,205 184,700 24,495
Engineering:
Personal services 101,421 (381) 101,040 111,210 10,170
Contractual services 7,433 - 7,433 12,815 5,382
Fixed charges 18,712 (55) 18,657 20,109 1,452
Commodities 3,966 - 3,966 3,850 (116)
Capital outlay - - - 1,210 1,210
�- 131,532 (436) 131,096 149,194 18,098
Village Hall:
Personal services 27,969 (215) 27,754 32,120 4,366
Contractual services 62,608 - 62,608 51,590 (11,018)
Fixed charges 16,039 (18) 16,021 15,086 (935)
Commodities 15,925 - 15,925 19,085 3,160
Capital outlay - - - 31,790 31,790
Payment of installment debt
obligation 243,521 - 243,521 267,872 24,351
366,062 (233) 365,829 417,543 51,714
Total general government 878,409 (4,500) 873,909 1,010,891 136,982
Public Safety:
a" Police service:
Personal services 1,193,591 (10,827) 1,182,764 1,364,817 182,053
Contractual services 35,060 - 35,060 57,393 22,333
Fixed charges 360,291 (1,026) 359,265 396,233 36,968
Commodities 84,140 - 84,140 97,163 13,023
Capital outlay 79,380 4,690 84,070 98,307 14,237
1,752,462 (7,163) 1,745,299 2,013,913 268,614
Fire service:
Personal services 932,696 (10,889) 921,807 1,036,550 114,743
Contractual services 31,050 - 31,050 39,980 8,930
y- Fixed charges 375,566 (1,146) 374,420 403,865 29,445
Commodities 41,839 - 41,839 51,933 10,094
Capital outlay 23,734 - 23,734 88,601 64,867
$ 1,404,885 (12,035) 1,392,850 1,620,929 228,079
(Continued)
y
49
A-2, Cont.
VILLAGE OF OAK BROOK, ILLINOIS
General Corporate Fund
Schedule of Expenditures - Budget and Actual
Adjustment
to Actual on Variance
budgetary budgetary favorable
Actual basis basis Budget (unfavorable)
Public Safety, continued:
Emergency medical service:
Personal services $ 37,639 (199) 37,440 54,484 17,044
Contractual services 2,429 - 2,429 4,294 1,865
Fixed charges 12,366 (7) 12,359 19,018 6,659
Commodities 5,567 - 5,567 7,484 1,917 �.
Capital outlay 1,005 - 1,005 2,915 1,910
59,006 (206) 58,800 88,195 29,395
Bureau of Inspection: '
Personal services 130,945 (532) 130,413 149,773 19,360
Contractual services 18,789 - 18,789 25,668 6,879
Fixed charges 23,679 (45) 23,634 30,229 6,595 '
Commodities 6,964 - 6,964 8,038 1,074
Capital outlay 78 - 78 660 582
180,455 (577) 179,878 214,368 34,490
Total public safety 3,396,808 (19,981) 3,376,827 3,937,405 560,578
Public Works: "
Administration:
Personal services 53,020 1,565 54,585 61,546 6,961
Contractual services 29,256 - 29,256 34,529 5,273
Fixed charges 79,959 225 80,184 77,699 (2,485)
Commodities 3,271 - 3,271 3,190 (81)
165,506 1,790 167,296 176,964 9,668
Street maintenance:
Personal services 168,436 (4,282) 164,154 204,116 39,962
Contractual services 70,693 - 70,693 74,970 4,277
Fixed charges 18,450 (341) 18,109 30,622 12,513
Commodities 103,482 - 103,482 108,955 5,473
Capital outlay 10,649 - 10,649 12,650 2,001
371,710 (4,623) 367,087 431,313 64,226
Street light and traffic control:
Contractual services 73,669 - 73,669 90,475 16,806
Fixed charges 3,364 (36) 3,328 4,336 1,008
Commodities (1,003) - (1,003) 4,730 5,733
76,030 (36) 75,994 99,541 23,547
Capital improvements:
Contractual services 2,951 - 2,951 8,047 5,096
Capital outlay 89,945 (43,904) 46,041 800,800 754,759
$ 92,896 (43,904) 48,992 808,847 759,855
(Continued)
50
A-2, Cont.
VILLAGE OF OAK BROOK, ILLINOIS
General Corporate Fund
Schedule of Expenditures - Budget and Actual
Adjustment
to Actual on Variance
budgetary budgetary favorable
Actual basis basis Budget (unfavorable)
Public Works, continued:
Municipal garage:
Personal services $ 46,050 (385) 45,665 50,277 4,612
Contractual services 44,587 - 44,587 57,530 12,943
Fixed charges 5,263 9 5,272 5,787 515
Commodities 7,666 - 7,666 9,955 2,289
Capital outlay 1,729 - 1,729 14,080 12,351
105,295 (376) 104,919 137,629 32,710
Total public works 811,437 (47,149) 764,288 1,654,294 890,006
R
Culture and Recreation - library:
Personal services 60,138 (413) 59,725 70,752 11,027
Contractual services 7,402 - 7,402 11,275 3,873
Fixed charges 11,912 - 119912 14,639 2,727
Commodities 8,245 - 8,245 9,229 984
Capital outlay 25,340 - 25,340 34,320 8,980
Total culture and
recreation 113,037 (413) 112,624 140,215 27,591
Total expenditures $ 513927800 (72,094) 5,320,706 6,937,071 1,616,365
51
SPECIAL REVENUE FUNDS
Motor Fuel Tax Fund - to account for maintenance of Village-owned streets,
including winter salting, repavement, and electricity for street lights.
Financing is provided by the Village's share of state motor fuel tax
allotments. State law requires these allotments to be used to maintain
streets.
Federal Revenue Sharing Fund - to account for construction of the Village
bikepath system. Financing is provided by the Village's share of federal
revenue sharing funds.
Special Service Area No. 1 - to account for street light improvements in a
subdivision of the Village. Financing is provided by a specific tax levy
on residents of the subdivision, as well as by General Corporate Revenues.
52
B-1
VILLAGE OF OAK BROOK, ILLINOIS
Special Revenue Funds
Combining Balance Sheet .�
April 30, 1983
Special
Motor Federal Service
Fuel Revenue Area
Assets Tax Sharing No. 1 Total
Investments:
Savings account $ 6 16 - 22
Repurchase agreements 112,611 60,368 - 172,979
112,617 60,384 - 173,001
Receivables, net:
Property taxes - - 6,064 6,064
Allotments 7,872 - - 7,872
Accrued interest 720 28 - 748
i
Total assets $ 121,209 60,412 6,064 187,685
Liabilities and Fund Balances
Liabilities:
Accounts payable - 18 - 18
Due to other funds - - 26,420 26,420
Deferred tax revenue - - 6,064 6,064
Total liabilities - 18 32,484 32,502 -.
Fund balance (deficit) :
Designated for subsequent year's
expenditures (note 9) - 60,394 - 60,394
Unreserved - undesignated 121,209 - (26,420) 94,789
Total liabilities and
fund balances $ 1212209 60,412 6,064 187,685
See accompanying notes to financial statements.
53
B-2
VILLAGE OF OAK BROOK, ILLINOIS
Special Revenue Funds
Combining Statement of Revenues, Expenditures, and
Changes in Fund Balances
Year ended April 30, 1983
Special
Motor Federal Service
Fuel Revenue Area
Tax Sharing No. 1 Total
Revenues:
Intergovernmental revenue $ 83,785 58,584 6,066 148,435
^' Interest on investments 9,870 943 - 10,813
Total revenues 93,655 59,527 6,066 159,248
Expenditures - public works - 51 1,499 1,550
Excess of revenues over
expenditures 93,655 59,476 4,567 157,698
Other financing uses - operating
'— transfers out 50,110 - - 50,110
Excess of revenues over
expenditures and other uses 43,545 59,476 4,567 107,588
Fund balance (deficit) at April 30, 1982 77,664 918 (30,987) 47,595
Fund balance (deficit) at April 30, 1983 $ 121,209 60,394 (26,420) 155,183
See accompanying notes to financial statements.
54
i
VILLAGE OF OAK BROOK, ILLINOIS
Special Revenue Funds
Combining Statement of Revenues, Expenditures, and Changes in r
Fund Balances - Budget and Actual
Year ended April 30, 1983
Motor Fuel Tax Federal Revenue Sharing
Adjustment Adjustment
to Actual on Variance to Actual on
budgetary budgetary favorable budgetary budgetary
Actual basis basis Budget (unfavorable) Actual basis basis Budget
Revenues:
Intergovernmental:
Allotments from
State of Illinois $ 83,785 (185) 83,600 79,000 49600 - - - -
Entitlements from
Federal government - - - - - 58,584 - 58,584 57,370
Interest on investments 9,870 (159) 9,711 1,000 8,711 943 (29) 914 100
r
Total revenues 93,655 (344) 93,311 80,000 13,311 59,527 (29) 59,498 57,470
Expenditures - public
works - - - - - 51 - 51 50 ....
Excess (deficiency)
of revenues over
expenditures 93,655 (344) 93,311 80,000 13,311 59,476 (29) 59,447 57,420
Other financing uses -
operating transfers
out (50,110) (50,110) (145,000) 94,890 - - -
r
Excess (deficiency)
of revenues over
expenditures and
other uses 43,545 $(344) 43,201 (65,000) 108,201 59,476 (29) 59,447 57,420
Fund balance (deficit) at
April 30, 1982 77,664 918
Fund balance (deficit) at
April 30, 1983 $ 121,209 60,394
See accompanying notes to financial statements.
r
55
B-3
VILLAGE OF OAK BROOK, ILLINOIS
Special Revenue Funds
Combining Statement of Revenues, Expenditures, and Changes in
Fund Balances - Budget and Actual
Year ended April 30, 1983
Special Service Area No. 1 Total
Adjustment Adjustment
Variance to Actual on Variance to Actual on Variance
favorable budgetary budgetary favorable budgetary budgetary favorable
+.. (unfavorable) Actual basis basis Budget (unfavorable) Actual basis basis Budget (unfavorable)
- 6,066 (6,066) - - - 89,851 (6,251) 83,600 79,000 4,600
1,214 - - - - - 58,584 - 58,584 57,370 1,214
814 - - 10,813 (188) 10,625 1,100 9,525
2,028 6,066 (6,066) - - - 159,248 (6,439) 152,809 137,470 15,339
(1) 1,499 (1,499) 1,550 (1,499) 51 50 (1)
2,027 4,567 (4,567) - - - 157,698 (4,940) 152,758 137,420 15,338
(50,110) - (50,110)(145,000) 94,890
2,027 4,567 (4,567) - - - 107,588 (4,940) 102,648 (7,580) 110,228
(30,987) 47,595
(26,420) 155,183
`'" 56
CAPITAL PROJECTS FUNDS
Sports Core Construction Fund - to account for the financing and construction
of the Sports Core golf course and improvements to the Bath and Tennis
Club. Construction of the golf course was completed during fiscal 1981.
Financing was provided by general obligation recreation bond proceeds
($10,720,000) and related investment income.
Equipment Replacement Fund - to account for the financing and purchase of
additional equipment in the future. Financing will be provided by General
Corporate Fund revenues.
57
C-1
VILLAGE OF OAK BROOK, ILLINOIS
Capital Projects Funds
Combining Balance Sheet
April 30, 1983
Sports
Core Equipment
Assets Construction Replacement Total
Investments - repurchase agreements $ 21,646 190,000 211,646
Total assets $ 21,646 190,000 211,646
Fund Balances
Fund balances: _
Designated for subsequent year's
expenditures (note 9) - 190,000 190,000
Unreserved - undesignated 21,646 - 21,646
Total fund balances $ 21,646 190,000 211,646
See accompanying notes to financial statements.
i
58
C-2
VILLAGE OF OAK BROOK, ILLINOIS
Capital Projects Funds
Combining Statement of Revenues, Expenditures, and
Changes in Fund Balances
April 30, 1983
Sports
Core Equipment
Construction Replacement Total
Revenues - interest on investments $ 66 - 66
Expenditures:
Administration 85 - 85
Capital outlay 27,308 - 27,308
Total expenditures 27,393 - 27,393
Excess (deficiency) of
revenues over expenditures (27,327) - (27,327)
Other financing sources - operating
transfers in 152,463 75,000 227,463
Excess of revenues and other
sources over expenditures 125,136 75,000 200,136
Fund balance (deficit) at April 30, 1982 (103,490) 1159,000 112510
Fund balance at April 30, 1983 $ 21,646 1902000 211,646
See accompanying notes to financial statements.
59
VILLAGE OF OAK BROOK, ILLINOIS
Capital Projects Funds
Combining Statement of Revenues, Expenditures, and
Changes in Fund Balances - Budget and Actual
Year ended April 30, 1983
Sports Core Construction
Adjustment
to Actual on Variance
budgetary budgetary favorable
Actual basis basis Budget (unfavorable) Actual
Revenues - interest on
investments $ 66 - 66 - 66 -
Expenditures:
Administration 85 - 85 - (85) -
Capital outlay 27,308 27,308 70,000 42,692 -
Total expenditures 27,393 - 27,393 70,000 42,607 -
Excess (deficiency)
of revenues over
expenditures (27,327) - (27,327) (70,000) 42,673 -
Other financing sources -
operating transfers in 152,463 i 152,463 - 152,463 75,000
Excess (deficiency)
of revenues and
other sources over
expenditures 125,136 $ - 125,136 (70,000) 195,136 75,000
Fund balance (deficit) at
April 30, 1982 (103,490) 115,000
Fund balance at April 30, 1983 $ 21,646 190,000
See accompanying notes to financial statements.
60
C-3
VILLAGE OF OAK BROOK, ILLINOIS
Capital Projects Funds
Combining Statement of Revenues, Expenditures, and
Changes in Fund Balances - Budget and Actual
Year ended April 30, 1983
Equipment replacement Total
Adjustment Adjustment
to Actual on Variance to Actual on Variance
budgetary budgetary favorable budgetary budgetary favorable
basis basis Budget (unfavorable) Actual basis basis Budget (unfavorable)
- 66 - 66 - 66
- - 85 - 85 - (85)
- 27,308 27,308 70,000 42,692
- - 27,393 27,393 70,000 42,607
- - - - (27,327) - (27,327) (70,000) 42,673
75,000 75,000 227,463 227,463 75,000 152,463
75,000 75,000 - 200,136 - 200,136 5,000 195,136
11,510
211,646
61
ENTERPRISE FUNDS
Waterworks System Fund - to account for the provision of water services to the
residents of the Village and some residents of surrounding communities.
All activities necessary to provide such services are accounted for in this
fund.
-" Sports Core Fund - to account for the operations and maintenance of the Sports
Core, including the golf course and Bath and Tennis Club.
62
VILLAGE OF OAK BROOK, ILLINOIS
Enterprise Funds
Combining Balance Sheet -•
April 30, 1983
Waterworks Sports
Assets System Core Total
Current assets:
Cash $ 4 16,216 16,220
Investments: -
Savings accounts 8,737 - 8,737 _
Repurchase agreements 39,410 148,680 188,090
Certificates of deposit 8,754 - 8,754
56,901 148,680 205,581
Receivables:
Customers:
Billed water sales 60,366 60,366 �.
Estimated unbilled water sales 202,400 - 202,400
Accrued interest 84,095 57 84,152
Other 16,600 42,140 58,740
363,461 42,197 405,658
Prepaid expenses - 89,673 89,673
Inventory - 24,200 24,200
Total current assets 420,366 320,966 741,332 ..
Unamortized bond discount 56,396 - 56,396
Restricted assets per bond ordinance:
Cash 3 - 3
Investments 2,435,363 - 2,435,363
2,435,366 - 2,435,366
Property, plant, and equipment 8,444,758 11,161,550 19,606,308 ...
Less allowances for depreciation (1,497,809) (680,966) (2,178,775)
Net property, plant, and
equipment 6,946,949 10,480,584 17,427,533
Total assets $ 9,859,077 10,801,550 20,660,627
See accompanying notes to financial statements.
63
D-1
VILLAGE OF OAK BROOK, ILLINOIS
Enterprise Funds
Combining Balance Sheet
April 30, 1983
Waterworks Sports
Liabilities and Fund Equity System Core Total
Current liabilities:
Accounts payable $ 41,431 87,405 1289836
Accrued payroll 3,946 2,385 61331
-" Accrued vacation liability 4,220 4,612 8,832
Customer deposits 424 140,440 140,864
Due to other funds 12,427 372 12,799
Total current liabilities 62,448 235,214 297,662
Long-term liabilities - revenue bonds:
Revenue bonds of 1973 29500,000 - 2,500,000
Revenue bonds of 1976 2,200,000 - 2,200,000
Total long-term liabilities 4,700,000 - 4,700,000
Total liabilities 4,762,448 235,214 4,997,662
Fund equity:
Contributed capital - 11,025,590 11,025,590
Retained earnings (deficit) :
Reserved according to bond ordinance 29435,366 - . 2,435,366
Unreserved 2,661,263 (459,254) 2,202,009
Total retained earnings (deficit) 5,096,629 (459,254) 4,637,375
Total fund equity 5,096,629 10,566,336 15,662,965
Total liabilities and fund equity $ 9,859,077 10,801,550 20,660,627
64
D-2
VILLAGE OF OAK BROOK, ILLINOIS
Enterprise Funds
Combining Statement of Revenues, Expenses, and
Changes in Retained Earnings (Deficit)
Year ended April 30, 1983
Waterworks Sports
System Core Total
Operating revenues:
Charges for services $ 1,645,284 1,204,701 2,849,985
Miscellaneous 53,029 23,403 76,432
Total operating revenues 1,698,313 1,228,104 22926,417
Operating expenses:
Operation of facilities 508,274 994,815 1,503,089
General and administrative 31,986 113,720 145,706
Depreciation 230,484 222,507 452,991
Total operating expenses 770,744 1,331,042 2,101,786
Operating income (loss) 927,569 (102,938) 824,631
Nonoperating revenues (expenses) :
Interest on investments 282,672 17,895 300,567
Interest on bonds (261,525) - (261,525)
Amortization of bond discount (5,788) - (5,788)
Fiscal agents' fees (402) - (402)
Construction reimbursements 21,600 - 21,600
36,557 17,895 542452
Income (loss) before operating
transfers 964,126 (85,043) 879,083
Operating transfers in - 9,095 9,095
Operating transfers out (140,000) (21,000) (161,000)
Net income (loss) 824,126 (96,948) 727,178
Retained earnings (deficit) at
April 30, 1982 (note 1(g)) 4,272,503 (3622306) 3,910,197
Retained earnings (deficit) at
April 30, 1983 $ 5,096,629 (459,254) 4,637,375
See accompanying notes to financial statements.
65
D-3
VILLAGE OF OAK BROOK, ILLINOIS
Enterprise Funds
Combining Statement of Changes in Financial Position
Year ended April 30, 1983
Waterworks Sports
System Core Total
Sources of working capital:
Operations:
Net income (loss) $ 824,126 (96,948) 727,178
Items not requiring working capital:
Depreciation 230,484 222,507 452,991
Amortization of bond discount 51788 - 5,788
Total provided by operations 1,060,398 125,559 1,185,957
Contributed capital - 27,308 27,308
Total sources of working capital 1,060,398 152,867 1,213,265
Uses of working capital:
Acquisition of fixed assets 245,217 65,931 311,148
Reduction in bonds payable 300,000 - 300,000
Net increase in restricted assets 596,013 - 596,013
Total uses of working capital 11141,230 65,931 1,207,161
Net increase (decrease) in
working capital $ (80,832) 86,936 6,104
Elements of net increase (decrease) in
working capital:
Cash 1 11,912 11,913
Investments (26,214) (17,332) (43,546)
Receivables 141,788 35,766 1779554
Due from restricted accounts (194,407) - (194,407)
Prepaid expenses - 28,240 28,240
Inventory - 24,200 24,200
Accounts payable (1,644) 10,644 9,000
Accrued payroll 25 4,210 4,235
Accrued vacation liability (267) (1,040) (1,307)
Deposits - (9,341) (9,341)
Due to other funds (114) (323) (437)
Net increase (decrease) in
working capital $ (80,832) 86,936 6,104
See accompanying notes to financial statements.
66
D-4
VILLAGE OF OAK BROOK, ILLINOIS
Waterworks System Fund
Statement of Revenues, Expenses, and Changes in
Retained Earnings - Budget and Actual
Year ended April 30, 1983
Adjustment
to Actual on Variance
budgetary budgetary favorable
Actual basis basis Budget (unfavorable)
Operating revenues:
Charges for services:
Water sales $ 1,331,732 (42,950) 1,288,782 1,167,000 121,782
Unmetered water 9,033 - 9,033 4,200 4,833
Water tap on charges 161,908 5,457 167,365 63,000 104,365
Fire service charges 118,637 1,189 119,826 109,500 10,326
Special service charges 9,430 - 9,430 10,000 (570)
Water meter sales 14,544 - 14,544 11,450 3,094
1,645,284 (36,304) 1,608,980 1,365,150 243,830
Miscellaneous 53,029 (24,108) 28,921 17,000 11,921
Total operating revenues 1,698,313 (60,412) 1,637,901 1,382,150 255,751
Operating expenses:
Operation of facilities:
Source of supply 10,201 (48) 10,153 17,493 7,340
Power and pumping 297,117 (541) 296,576 371,350 74,774
Purification 14,879 (9) 14,870 29,858 14,988
Transmission and distribution 186,077 (406) 185,671 120,609 (65,062)
508,274 (1,004) 507,270 539,310 32,040
General and administrative 31,986 - 31,986 42,189 10,203
Depreciation 230,484 (230,484) - - -
Total operating expenses 770,744 (231,488) 539,256 581,499 42,243
Operating income 927,569 171,076 1,098,645 800,651 297,994
Nonoperating revenues (expenses):
Interest on investments 282,672 (80,094) 202,578 240,000 (37,422)
Interest on bonds (261,525) - (261,525) (287,678) 26,153
Amortization of bond discount (5,788) 5,788 - - -
Fiscal agents' fees (402) - (402) (440) 38 _
Construction reimbursements 21,600 (2,050) 19,550 7,550 12,000
36,557 (76,356) (39,799) (40,568) 769
Income before operating -•
transfers 964,126 94,720 1,058,846 760,083 298,763
Operating transfers out (140,000) - (140,000) (154,000) 14,000
Net income 824,126 $ 94,720 918,846 606,083 312,763
Retained earnings at April 30, 1982
(note 1(g)) 4,272,503
Retained earnings at April 30, 1983 $ 5,096,629
See accompanying notes to financial statements.
67
D-5
VILLAGE OF OAK BROOK, ILLINOIS
Waterworks System Fund
Schedule of Operating Expenses by Department - Budget and Actual
L Year ended April 30, 1983
Adjustment
to Actual on Variance
budgetary budgetary favorable
Actual basis basis Budget (unfavorable)
Operating expenses:
Operation of facilities:
Source of supply:
Personal services $ 782 (43) 739 2,865 2,126
Contractual services 7,628 - 7,628 11,440 3,812
Fixed charges 90 (5) 85 328 243
Commodities 1,701 - 1,701 2,860 1,159
10,201 (48) 10,153 17,493 7,340
Power and pumping:
Personal services 16,630 (512) 16,118 18,026 1,908
Contractual services 276,798 - 276,798 346,236 69,438
Fixed charges 1,888 (29) 1,859 1,808 (51)
Commodities 1,801 - 1,801 5,280 3,479
297,117 (541) 296,576 371,350 74,774
Purification:
Personal services 3,282 (8) 3,274 14,160 10,886
Contractual services 2,034 - 2,034 2,750 716
Fixed charges 378 (1) 377 1,618 1,241
Commodities 9,185 - 9,185 11,330 2,145
14,879 (9) 14,870 29,858 14,988
Transmission and distribution:
Personal services 75,481 (359) 75,122 68,457 (6,665)
Contractual services 73,360 - 73,360 18,340 (55,020)
Fixed charges 8,584 (47) 8,537 7,412 (1,125)
Commodities 28,652 - 28,652 26,400 (2,252)
186,077 (406) 185,671 120,609 (65,062)
Total operation of facilities 508,274 (1,004) 507,270 539,310 32,040
General and administrative 31,986 - 31,986 42,189 10,203
Depreciation 230,484 (230,484) - - -
Total operating expenses $ 770,744 (231,488) 539,256 581,499 421243
68
—
VILLAGE OF OAK BROOK, ILLINOIS
Waterworks System Fund
Schedule of Property, Plant, and Equipment
and Accumulated Depreciation
Year ended April 30, 1983
Property, plant, and equipment
Balance Additions and Balance
Apr.30,1982 transfers Apr.30,1983
Waterworks property, plant, and equipment:
Land and land rights $ 2,819 - 2,819
Service of supply plant - wells
—
and springs 314,753 - 314,753
Structure and improvements 68,232 - 68,232
Electrical pumping equipment 118,745 - 118,745
Total water treatment equipment 5,325 - 5,325
Distribution, reservoirs, mains, and
standpipes 7,169,580 219,970 7,389,550
Meters and meter installation 299,007 24,160 323,167
Hydrants 129,992 - 129,992
Miscellaneous tools and equipment:
Office furniture and equipment 3,449 - 3,449
Transportation equipment 38,163 - 38,163
Tools, shop, and garage equipment 2,852 - 2,852
Laboratory equipment 11070 - 1,070
Miscellaneous equipment 34,151 1,087 35,238
Intangible plant - organization 11,403 - 11,403
$ 8,199,541 245,217 8,444,758
69
D-6
VILLAGE OF OAK BROOK, ILLINOIS
Waterworks System Fund
Schedule of Property, Plant, and Equipment and
Accumulated Depreciation
Year ended April 30, 1983
Rate of
depreciation
or Allowances for depreciation Net asset
amortization Balance Additions and Balance value
(years) Apr.30,1982 transfers Apr.30,1983 AApr.30,1983
$ - - - 2,819
'- 40 65,477 7,868 73,345 241,408
40 15,137 1,705 16,842 51,390
40 27,093 3,219 30,312 88,433
10 4,792 533 5,325 -
40 938,916 184,739 1,123,655 6,265,895
15 110,422 21,555 131,977 191,190
40 27,241 3,250 30,491 99,501
10 3,088 345 3,433 16
6 26,374 6,362 32,736 5,427
5 2,852 - 2,852 -
5 1,070 - 1,070 -
5 33,460 908 34,368 870
5 11,403 - 11,403 -
1,267,325 230,484 1,497,809 6,946,949
70
D-7
VILLAGE OF OAK BROOK, ILLINOIS
Sports Core Fund �-
Statement of Revenues, Expenses, and Changes in
Deficit - Budget and Actual _
Year ended April 30, 1983
Adjustment
to Actual on Variance
budgetary budgetary favorable
Actual basis basis Budget (unfavorable)
Operating revenues:
Charges for services:
Golf course $ 544,459 - 544,459 582,325 (37,866)
Bath and tennis 481,787 - 481,787 438,300 43,487
Open fields 52,981 - 52,981 51,605 1,376
Food and service charge:
Golf course 80,996 - 80,996 80,000 996
Bath and tennis 34,826 - 34,826 39,875 (5,049)
Beverage and service charge -
bath and tennis 9,652 - 9,652 14,000 (4,348)
1,204,701 - 1,204,701 1,206,105 (1,404)
Miscellaneous:
Sales tax 15,450 - 15,450 15,000 450
Other 7,953 - 7,953 600 7,353
Total operating revenues 1,228,104 - 1,228,104 1,221,705 6,399
Operating expenses:
Operation of facilities:
Golf course 360,412 1,869 362,281 407,738 45,457
Bath and tennis 454,717 517 455,234 367,924 (87,310)
Open fields 62,847 - 62,847 72,786 9,939
Food:
Golf course 50,829 - 50,829 53,016 2,187
Bath and tennis 49,791 - 49,791 50,503 712 -�
Beverage - bath and tennis 6,433 - 6,433 8,136 1,703
Grill operations 9,786 - 9,786 82299 (1,487)
994,815 2,386 997,201 968,402 (28,799) _
General and administrative 113,720 (2,608) 111,112 96,912 (14,200)
Depreciation 222,507 (222,507) - - -
Total operating expenses 1,331,042 (222,729) 1,108,313 1,065,314 (42,999)
Operating income (loss) (102,938) 222,729 119,791 156,391 (36,600)
Nonoperating revenue - interest on
investments 17,895 1,278 19.173 23,000 (3,827)
Income (loss) before
operating transfers (85,043) 224,007 138,964 179,351 (40,427)
Operating transfers in 9,095 - 9,095 9,350 (255)
Operating transfers out (21,000) - (21,000) (96,000) 75,000
Net income (loss) (96,948) $ 224,007 127,059 92,741 34,318
Deficit at April 30, 1982 (note 1(g)) (362,306)
Deficit at April 30, 1983 $ (459,254)
See accompanying notes to financial statements.
71
_ D-8
VILLAGE OF OAK BROOK, ILLINOIS
Sports Core Fund
Schedule of Operating Expenses by Department - Budget and Actual
Year ended April 30, 1983
' Adjustment
to Actual on Variance
budgetary budgetary favorable
Actual basis basis Budget (unfavorable)
Operating expenses:
Operation of facilities:
Golf course:
Personal services $ 71,317 1,735 73,052 74,126 1,074
Contractual services 209,724 - 209,724 253,132 43,408
Fixed charges 56,405 134 56,539 58,025 1,486
Commodities 22,966 - 22,966 22,455 (511)
's 360,412 1,869 362,281 407,738 45,457
Bath and tennis:
Personal services 124,012 467 124,479 93,659 (30,820)
Contractual services 209,145 - 209,145 208,216 (929)
Fixed charges 29,735 50 29,785 18,535 (11,250)
Commodities 91,825 - 91,825 47,514 (44,311)
454,717 517 455,234 367,924 (87,310)
Open fields:
Contractual services 60,382 - 60,382 70,875 10,493
Fixed charges 2,030 - 2,030 1,411 (619)
Commodities 435 - 435 500 65
62,847 - 62,847 72,786 9,939
Food - golf course:
Personal services 18,417 - 18,417 18,916 499
Contractual services 545 - 545 500 (45)
Fixed charges 1,234 - 1,234 1,700 466
Commodities 30,633 - 30,633 31,900 1,267
50,829 - 50,829 53,016 2,187
Food - bath and tennis:
Personal services 27,672 - 27,672 25,950 (1,722)
Contractual services 1,996 - 1,996 700 (1,296)
Fixed charges 2,319 - 2,319 2,050 (269)
Commodities 17,804 - 17,804 21,803 3,999
49,791 - 49,791 50,503 712
Beverage - bath and tennis:
Personal services 3,661 - 3,661 3,080 (581)
Contractual services 76 - 76 310 234
Fixed charges 245 - 245 236 (9)
Commodities 2,451 - 2,451 4,510 2,059
6,433 - 6,433 8,136 1,703
Grill operations:
Personal services 4,789 - 4,789 3,524 (1,265)
Contractual services 307 - 307 375 68
Fixed charges 321 - 321 300 (21)
Commodities 4,369 - 4,369 4,100 (269)
9,786 - 9,786 8,299 (1,487)
Total operation of
facilities 994,815 2,386 997,201 968,402 (28,799)
General and administrative:
Personal services 56,281 140 56,421 58,549 2,128
Contractual services 16,418 - 16,418 15,026 (1,392)
Fixed charges 37,397 (2,748) 34,649 22,187 (12,462)
Commodities 3,624 - 3,624 1,150 (2,474)
113,720 (2,608) 111,112 96,912 (14,200)
Depreciation 222,507 (222,507) - - -
Total operating expenses $ 1,331,042 (222,729) 1,108,313 1,065,314 (42,999)
72
VILLAGE OF OAK BROOK, ILLINOIS
Sports Core Fund
Schedule of Property, Plant, and Equipment
and Accumulated Depreciation
Year ended April 30, 1983
Property, plant, and equipment
Balance Additions and Balance
Apr.30,1982 transfers Apr.30,1983 _
Land and land rights g $ 8,244,900 7,685 8,252,585
Golf course land improvements 1,182,612 5,661 1,188,273
Other land improvements 301,972 32,330 334,302
Clubhouse - golf 289,492 - 289,492
Clubhouse - bath and tennis 370,984 - 370,984
Other improvements 238,311 640 238,951
Pools 92,000 - 92,000
Tennis courts 252,486 4,298 256,784
Clubhouse equipment 72,573 14,616 87,189
Golf equipment 50,290 700 50,990
$ 11,095,620 65,930 11,161,550
i
73
D-9
VILLAGE OF OAK BROOK, ILLINOIS
'- Sports Core Fund
Schedule of Property, Plant, and Equipment
and Accumulated Depreciation
Year ended April 30, 1983
Rate of Allowance for depreciation Net asset
depreciation Balance Additions and Balance value
(years) Apr.30,1982 transfers Apr.30,1983 Apr.30,1983
$ - - - 8,252,585
10 187,806 118,544 306,350 881,923
20 45,749 15,907 61,656 272,646
40 10,817 7,237 18,054 271,438
40 37,270 9,275 46,545 324,439
10 58,655 23,863 82,518 156,433
20 20,700 4,600 25,300 66,700
15 24,752 16,976 41,728 215,056
5 58,176 15,976 74,152 13,037
5 14,535 10,128 24,663 26,327
458,460 222,506 680,966 10,480,584
T
74
FIDUCIARY FUNDS
Police and Firemen's Pension Funds - to account for the accumulation of
resources to be used for retirement annuity payments at appropriate amounts
and times in the future. Resources are contributed by employees at rates
fixed by law and by the Village at amounts determined by an annual
actuarial study.
75
E-1
VILLAGE OF OAK BROOK, ILLINOIS
•- Fiduciary Funds
Combining Balance Sheet
April 30, 1983
w
Pension Trust Funds
Police Firemen's
.- Assets Pension Pension Total
Cash $ 16 27 43
Investments:
Certificates of deposit 130,314 830,000 960,314
Government and agency securities 2,780,636 2,349,360 5,129,996
Savings accounts 22,359 5,914 28,273
2,933,309 3,185,274 6,118,583
Accrued interest receivable 91,143 89,828 180,971
Due from other funds 29,672 35,642 65,314
Total assets $ 31054,140 3,310,771 6,364,911
"- Fund Balances
Fund balances:
Reserved for employees retirement:
Statutory minimum 370,000 - 370,000
Amount in excess of statutory
minimum 2,924,750 2,625,054 5,549,804
Unreserved fund balance (deficit) (240,610) 685,717 445,107
Total fund balances $ 3,054,140 3,310,771 6,364,911
See accompanying notes to financial statements.
76
E-2
VILLAGE OF OAK BROOK, ILLINOIS
Fiduciary Funds
Combining Statement of Revenues, Expenses,
and Changes in Fund Balances
Year ended April 30, 1983
Pension Trust Funds
Police Firemen's
Pension Pension Total
Operating revenues:
Interest on investments $ 332,040 350,184 682,224
Contributions: j
Employees 81,375 71,422 152,797
Village 201,044 285,549 486,593
282,419 356,971 639,390
Miscellaneous - gifts 100 - 100
Total operating revenues 614,559 707,155 1,321,714
Operating expenses:
General and administrative 600 792 1,392
Benefit payments 27,908 20,646 48,554
Refunds 4,504 - 4,504
i
Total operating expenses 33,012 21,438 54,450
Net income 581,547 685,717 1,267,264
Fund balance at April 30, 1982 2,472,593 2,625,054 5,097,647
Fund balance at April 30, 1983 $ 3,054,140 3,310,771 6,364,911
See accompanying notes to financial statements.
77
E-3
VILLAGE OF OAK BROOK, ILLINOIS
Fiduciary Funds
Combining Statement of Changes in Financial Position
Year ended April 30, 1983
Pension Trust Funds
a- Police Firemen's
Pension Pension Total
Sources of working capital - operations—
net income $ 581,547 685,717 1,267,264
Uses of working capital - net increase
in pension investments 563,312 660,625 1,223,937
Net increase in working capital $ 18,235 25,092 43,327
Elements of net increase (decrease)
in working capital:
_
Cash 3 9 12
Receivables 24,976 35,874 60,850
Due from other funds (6,744) (10,791) (17,535)
Net increase in working capital $ 18,235 25,092 43,327
See accompanying notes to financial statements.
78
E-4
VILLAGE OF OAK BROOK, ILLINOIS
r
Police Pension Fund
Statement of Revenues, Expenses, and Changes in
Fund Balances- Budget and Actual
Year ended April 30, 1983
Adjustment
to Actual on Variance
budgetary budgetary favorable
Actual basis basis Budget (unfavorable)
Operating revenues:
Interest on
investments $ 332,040 (17,332) 314,708 220,000 94,708
Contributions:
Employees 81,375 1,943 83,318 86,388 (3,070)
Village 201,044 4,801 205,845 213,430 (7,585) _.
282,419 6,744 289,163 299,818 (10,655)
Miscellaneous - gifts 100 - 100 100 -
Total operating �.
revenues 614,559 (10,588) 603,971 519,918 84,053
Operating expenses:
General and adminis-
trative 600 - 600 350 (250)
Benefit payments 27,908 - 27,908 27,907 (1)
Refunds 4,504 - 47504 - (4,504)
Total operating
expenses 33,012 - 33,012 28,257 (4,755) .`
Net income 581,547 $(10,588) 570,959 491,661 79,298
Fund balance at April 30,
1982 2,472,593 .
Fund balance at April 30,
1983 $ 3,054,140
See accompanying notes to financial statements.
79
E-5
VILLAGE OF OAK BROOK, ILLINOIS
■- Firemen's Pension Fund
Statement of Revenues, Expenses, and Changes in
Fund Balances - Budget and Actual
Year ended April 30, 1983
Adjustment
-- to Actual on Variance
budgetary budgetary favorable
Actual basis basis Budget (unfavorable)
Operating revenues:
Interest on
investments $ 350,184 (28,840) 3211344 200,000 121,344
Contributions:
Employees 71,422 1,924 73,346 72,430 916
Village 285,549 8,867 294,416 289,725 4,691
Total operating
revenues 707,155 (18,049) 689,106 562, 155 126,951
Operating expenses:
General and adminis-
trative 792 - 792 470 (322)
Benefits payments 20,646 - 20,646 20,645 (1)
Total operating
expenses 21,438 - 21,438 21,115 (323)
Net income 685,717 $(18,049) 667,668 541,040 126,628
Fund balance at April 30,
1982 2,625,054
Fund balance at April 30,
1983 $ 3,310,771
See accompanying notes to financial statements.
w
80
r�
r
r�
r
GENERAL FIXED ASSETS ACCOUNT GROUP
To account for fixed assets not used in Proprietary Fund operations or -�
accounted for in Trust Funds.
!
81
F-1
VILLAGE OF OAK BROOK, ILLINOIS
General Fixed Assets Account Group
Schedule of General Fixed Assets - By Sources
April 30, 1983
General fixed assets:
Land $ 188,741
Buildings and improvements 4,647,897
Furniture and fixtures 248,524
Roadway improvement 2,759,094
Automotive equipment 628,379
Other equipment 932,364
Library books 186,857
+ Total general fixed assets $ 9,591,856
Investment in general fixed assets from:
General Corporate Fund current revenues 7,081,957
Proceeds of indebtedness - Village Hall
and Library renovation 1,582,783
Gifts 518,738
.Motor Fuel Tax Fund revenues 246,098
Federal Revenue Sharing Fund revenues 131,751
Special Service Area #1 30,529
Total investment in general fixed assets $ 9,591,856
82
r
F-2
VILLAGE OF OAK BROOK, ILLINOIS
General Fixed Assets Account Group
Schedule of General Fixed Assets
By Function and Activity
April 30, 1983
r
Buildings Furniture
and and Roadway Automotive Other Library
Function and activity Land improvements fixtures improvements equipment equipment books Total
General government:
Counsel and legal $ - - 2,735 - - 7,294 - 10,029
Village manager - - 5,831 - 7,000 4,012 - 16,843
Finance and accounting - - 14,786 - - 91,663 - 106,449
Engineering - - 10,413 - - 43,460 - 53,873
Village Hall 188,741 2,517,793 118,338 - - 805 - 21825,677
Total general
government 188,741 2,517,793 152,103 - 7,000 147,234 - 3,012,871 ,..
Public safety:
Police Department - 11,233 18,378 - 85,843 138,084 - 253,538
Fire Department - 1,167,739 34,255 - 195,949 393,488 - 1,791,431
Emergency medical service - - - - 110,412 52,314 - 162,726
Inspection bureau - - 699 - 4,156 16,876 - 21,731
Total public
safety - 1,178,972 53,332 - 396,360 600,762 - 2,229,426 ' ^
Public works:
Administrative - - 5,000 - 4,269 - - 9,269
Street maintenance - - - - 220,750 162,080 - 382,830 .�
Street improvements - 30,363 - 2,759,094 - - - 2,789,457
Municipal garage - 750,000 5,246 - - 22,288 - 777,534
Total public
works - 780,363 10,246 2,759,094 225,019 184,368 - 3,959,090
Culture and recreation
library - 170,769 32,843 - - 186,857 390,469
Total general
fixed assets $ 188,741 4,647,897 248,524 2,759,094 628,379 932,364 186,857 9,591,856
r
83
F-3
VILLAGE OF OAK BROOK, ILLINOIS
General Fixed Assets Account Group
Schedule of Changes in General Fixed Assets -
By Function and Activity
Year ended April 30, 1983
General General
fixed fixed
assets assets
Function and activity May 1,1982 Additions Deductions Apr.30,1983
General government:
Counsel and legal $ 10,029 - - 10,029
Village Manager 16,843 - - 16,843
Finance and accounting 105,593 856 - 106,449
Engineering 53,873 - - 53,873
Village Hall 2,825,677 - - 2,825,677
Total general
government 3,012,015 856 - 3,012,871
Public safety:
Police Department 225,307 89,581 61,350 253,538
Fire Department 1,772,602 24,382 5,553 1,791,431
Emergency medical service 161,723 1,003 - 162,726
Inspection bureau 21,654 77 - 21,731
Total public
safety 2,181,286 115,043 66,903 2,229,426
Public works:
Administrative 9,269 - - 9,269
Street maintenance 372,182 10,648 - 382,830
Street improvements 2,699,512 89,945 - 2,789,457
Municipal garage 775,806 1,728 - 777,534
Total public
�. works 3,856,769 102,321 - 3,959,090
Culture and recreation -
library 365,131 25,338 - 390,469
Total general
fixed assets $ 9,415,201 243,558 66,903 9,591,856
84
Table 1
VILLAGE OF OAK BROOK, ILLINOIS
General Governmental Expenditures by Function (1) .�.
Last ten fiscal years
.r
Fiscal Adminis- Engi- Public
year tration Police Fire Building neering works Library Pension Insurance Total
1983 $ 676,049 1,421,976 1,084,517 354,505 113,223 712,756 102,148 591,807 335,819 5,392,800
1982 1,077,147 1,290,236 1,236,194 352,518 106,272 948,884 94,726 568,184 289,620 5,963,781
1981 396,298 1,193,727 1,087,356 344,257 96,839 861,170 89,569 564,553 257,431 4,891,200
1980 369,738 987,295 1,076,269 350,995 88,263 1,340,393 80,345 535,656 232,329 5,061,283 ..,
1979 429,812 882,185 714,978 93,972 56,795 497,209 48,346 389,922 258,847 3,372,066
1978 319,670 712,034 628,507 86,428 76,074 254,755 41,772 339,943 207,215 2,666,398
1977 368,902 707,421 624,661 78,111 71,530 225,542 36,084 237,195 151,597 2,501,043
1976 381,669 688,536 593,024 74,076 58,437 238,476 23,590 200,868 112,194 2,370,870
1975 437,693 608,090 519,045 64,071 68,188 275,046 21,339 174,042 91,482 2,258,996
1974 167,620 493,658 420,765 34,062 41,651 221,994 14,480 158,502 74,399 1,627,131
(1) Includes expenditures of only the General Corporate Fund.
Note - This schedule includes additional expenditure data by function. Individual department totals will not
agree to the basic financial statements, since reclassifications have been made for the purposes of additional
analysis.
86 '�
Table 2
VILLAGE OF OAK BROOK, ILLINOIS
General Revenues by Source (1)
�- Last ten fiscal years
Licenses Other Charges Fines
Fiscal General and inter- for and Investment
year sales tax permits government services forfeits interest Miscellaneous Total
1983 $ 4,559,420 212,984 248,064 159,897 139,872 413,163 13,314 5,746,714
1982 4,546,477 238,017 201,409 309,682 155,465 549,906 28,385 6,029,341
1981 4,301,208 195,474 227,859 131,836 109,239 471,058 45,927 5,482,601
1980 4,697,077 192,044 184,740 148,497 88,678 336,901 517,825 6,165,762
1979 3,286,830 215,235 165,992 240,561 103,367 203,992 32,646 4,248,623
1978 2,960,236 195,112 110,242 112,083 77,664 71,414 178,419 3,705,170
1977 2,353,858 123,894 157,971 74,062 55,534 82,410 204,385 3,052,114
' 1976 2,103,221 97,815 104,660 159,909 57,026 101,971 176,612 2,801,214
1975 1,952,700 63,032 118,532 64,304 50,649 184,003 269,000 2,702,220
1974 1,903,959 83,216 90,456 31,149 50,087 177,006 162,553 2,498,426
(1) Includes revenues of only the General Corporate Fund.
87
Table 3
VILLAGE OF OAK BROOK, ILLINOIS
Property Tax Levies and Collections
Last five fiscal years (1)
Percent of
Current total tax
year collections
abatement Total tax and Percent of .�
Total Percent Delinquent and collections write-offs Outstanding delinquent
tax Current tax of levy tax forfeiture and to delinquent taxes to
Fiscal year levy collections .collected collections write-offs write-offs tax levy taxes tax levy
1983 (1981
levy)
(3)(4) $ 277,439 273,157 98.46% $ 1,609 4,800 279,566 100.00% $ 2,193 .01%
1982 (1980
levy)
(2) 518,030 514,912 99.40 3,789 2,967 521,668 100.00 27,305 5.27
1981 (1979
levy)
(2) 483,900 479,949 99.18 16 1,409 481,374 99.48 29,385 6.07
1980 (1978
levy) 748,498 729,257 97.43 1,132 7,279 737,668 98.55 26,859 3.59
1979 (1977
levy) 843,838 823,267 97.56 _1j696 2,846 8272809 98.10 16,029 1.90
(1) Prior to the 1981 tax levy, the Village levied property taxes for debt service purposes only and commenced
such levies for the 1977 tax year. Taxes are collected during the summer months of the year following .�
the year of the levy. Thus, collections are made in the fiscal year two years behind the year of the
levy.
(2) The 1979 and 1980 levies were abated by $3002000. These funds were contributed from excess revenues of
the General Corporate Fund.
(3) The 1981 levy was abated by $600,000. These funds were contributed from excess revenues of the General
Corporate Fund.
(4) The 1982 levy, to be collected in the summer of 1983, was $590,550 after a $300,000 abatement to be paid
by the General Corporate Fund.
88
Table 4
VILLAGE OF OAK BROOK, ILLINOIS
Assessed and Estimated Actual Value of Taxable Property (2)
Last ten fiscal years
Ratio of
Personal total
Real property property(1) Total assessed/
Estimated Estimated Estimated total
... Fiscal actual actual actual estimated
year Assessed value Assessed value Assessed value actual value
1983 $ 318,675 965,680 - - 318,675 965,680 33.00%
1982 293,897 890,597 - - 293,897 890,597 33.00
1981 257,727 780,990 - - 257,727 780,990 33.00
1980 213,643 647,403 - - 213,643 647,403 33.00
1979 184,832 554,551 29,230 87,699 214,062 642,250 33.33
1978 163,202 489,655 22,854 68,569 186,056 558,224 33.33
1977 143,620 430,860 20,767 62,301 164,387 493,161 33.33
1976 128,005 382,904 20,797 62,210 148,802 445,114 33.43
1975 118,870 384,195 17,489 56,525 136,359 440,720 30.94
1974 109,890 330,894 13,729 41,339 123,619 372,233 33.21
(1) Personal property tax not assessed as of 1980 due to enactment of the
personal property replacement tax by state statute.
(2) Dollar amounts in thousands.
89
Table 5
VILLAGE OF OAK BROOK, ILLINOIS
Property Tax Rates - All Overlapping Governments
(per $100 assessed valuation)
Last ten fiscal years
Village Junior Grade High Oak Brook Hinsdale
Fiscal of Basic College School School Park Sanitary
year Total Oak Brook Town(1) #502 #53 #86 District District
1983 4.9090 .1645 .9452 .2318 1.4383 1.8883 .1763 .0646
1982 4.6863 .0944 .9425 .2222 1.3649 1.8334 .1598 .0691
1981 5.1113 .2010 1.0036 .1904 1.5661 1.9150 .1558 .0794
1980 5.8149 .2265 1 .0629 .2070 2.2248 1 .8620 .1341 .0976
1979 5.6082 .3495 0.9350 .1953 1.7895 1.9910 .2414 .1065
1978 5.8798 .4535 0.9789 .1973 1 .8380 1.9781 .3103 .1237
1977 5.5792 - 0.9446 .1929 2.0464 1.9431 .3159 .1363
1976 5.787 - 1.067 .160 2.065 2.002 .333 .160
1975 5.804 - .899 .151 2. 114 1.987 .329 .324
1974 6.067 - .952 .157 2.225 2.051 .317 .365
(1) Includes all county, forest preserve, and township rates.
90
Table 6
VILLAGE OF OAK BROOK, ILLINOIS
_ Ratio of Net General Bonded Debt to Assessed Value
and Net Bonded Debt Per Capita
Last seven fiscal years
Ratio of
net Net
Assessed Debt bonded bonded
Population value Gross service Net debt to debt
Fiscal (in (in bonded monies bonded assessed per
year thousands) thousands) debt(1) available debt value capita
1983 6,641(2) $ 318,675 8,711,721 120,337 8,591,384 2.696% $ 1,294
1982 6,641(2) 293,897 9,441,158 163,155 9,278,003 3.157 1,397
1981 6,641(2) 257,727 10,078,228 178,051 9,900,177 3.841 1,491
1980 5,281(3) 213,643 10,721,000 (221,744) 10,942,744 5. 122 2,072
1979 5,281 214,062 11,402,317 116,239 11,286,078 5.272 2,137
1978 5,281 186,056 11,727,209 82,481 11,644,728 6.259 2,205
1977(4) 51281 164,387 1,961,687 - 1,961,687 1.193 371
(1) Includes total gross bonded debt, including all components of the
general long-term debt account group.
(2) 1980 census.
(3) 1975 census.
(4) General obligation recreation bonds were issued on September 1, 1977
with the first principal payment due December 1, 1979.
91
i
Table 7
VILLAGE OF OAK BROOK, ILLINOIS
Computation of Legal Debt Margin
April 30, 1983
Assessed value $ 318,675,000
Debt limit 8,625% of assessed value 27,485,719
Debt applicable to debt limit:
General Obligation Recreation Bonds $ 8,650,000
Heritage/Pullman Bank installment note 20,105
Total applicable debt 8,670,105
Legal debt margin $ 18,815,614
92
Table 8
VILLAGE OF OAK BROOK, ILLINOIS
Computation of Overlapping Debt
April 30, 1983
Percentage Amount
applicable to applicable to
Net debt Village of Village of
Jurisdiction outstanding Oak Brook Oak Brook
Village of Oak Brook $ 8,670,105 100.00% $ 8,670,105
Oak Brook Park District 300,000 98.10 294,300
DuPage County 63,408,160 4.74 3,005,547
Sanitary districts 7,550,000 23.24 1,754,620
Junior college district 15,125,000 4.74 716,925
Elementary school districts 14,385,988 19.57 2,815,338
High school districts 17,492,234 12.64 2,211,019
Total $ 19,467,854
93
Table 9
VILLAGE OF OAK BROOK, ILLINOIS
Ratio of Annual Debt Service Expenditures for General
Bonded Debt to Total General Expenditures
Last five fiscal years
Ratio of
Total Total debt service _
Fiscal debt general to total
year Principal Interest service expenditures(1) expenditures
1983 $ 500,000 412,050 912,050 5,392,800 16.91%
1982 450,000 433,825 883,825 5,963,781 14.82
1981 400,000 454,650 854,650 4,891,200 17.47
1980(2) 270,000 477,410 747,410 5,061,283 14.77
1979(2) - - - 3,3722066 -
(1) Includes General Corporate Fund only.
(2) Bonds were issued on September 1, 1977 with the first principal payment
due December 1, 1979.
94
Table 10
VILLAGE OF OAK BROOK, ILLINOIS
Revenue Bond Coverage - Waterworks System Bonds
Last eight fiscal years
Net
revenue
available Debt service
Fiscal Gross for debt requirements
year revenue(1) Expenses(2) service(3) Principal Interest Total Coverage
1983 $ 2,002,585 540,260 1,462,325 300,000- 261,525 561,525 260%
1982 1,814,363 436,134 1,378,229 275,000 275,550 550,550 250
1981 1,665,697 510,744 1,154,953 250,000 289,425 539,425 214
1980 1,557,714 374,346 1,183,368 225,000 300,925 525,925 225
1979 1,604,002 386,149 1,217,853 225,000 312,425 537,425 227
1978 1,252,199 306,835 945,364 200,000 322,825 522,825 181
1977 1,254,182 212,790 1,041,392 75,000 282,712 357,712 291
1976 850,587 227,807 622,780 50,000 168,100 218,100 286
(1) Represents gross revenue, including operating revenue, interest on investments, and
reimbursements.
(2) Represents operating expenses, excluding depreciation.
(3) Represents operating income plus interest on investments, reimbursements, and
depreciation.
95
i
Table 11
VILLAGE OF OAK BROOK, ILLINOIS
i
Demographic Statistics
i
Education
level in
Per years of
Fiscal capita Median formal Unemployment
year Population income age . education rate
1983 (1) 6,641 $ 22,737 39 14.5 3.14%
1980 (2) 41164 _81997 34 13.3 0.07
(1) Source - 1980 Federal Census.
(2) Source - 1970 Federal Census.
i
r..
96
Table 12
VILLAGE OF OAK BROOK, ILLINOIS
Property Value, Construction, and Bank Deposits
Last ten calendar years
Commercial Residential
construction construction Estimated
Number Number Bank total
Calendar of Value of Value deposits(1) property
year units (in thousands) units (in thousands) (in thousands) value
1982 2 $ 11,943 55 $ 6,937 657,982,000 965,680,000
1981 1 798 63 14,618 508,321,000 890,597,000
1980 6 14,554 81 19,446 433,987,000 780,990,000
1979 6 18,167 119 17,487 - 647,403,000
1978 17 29,295 138 16,367 - 642,250,000
1977 13 10,050 132 14,944 - 558,224,000
1976 3 1,740 73 7,941 - 493,161,000
1975 5 14,040 39 4,379 - 445,114,000
1974 4 4,350 27 2,391 - 440,720,000
1973 14 44,408 50 42146 - 372,233,000
(1) Source - Polling of all banks in Village of Oak Brook. Data for years
prior to 1980 was not available.
97
Table 13
VILLAGE OF OAK BROOK, ILLINOIS
Principal Taxpayers
April 30, 1983
Percentage
1982 of total
Assessed assessed
Taxpayer Type of business valuation valuation ...
LaSalle National Bank Oakbrook Shopping Center $ 10,567,546 3.32%
Trust #49475 property
Arthur Rubloff & Co. Commerce plaza 4,732,430 1.49
Regency Towers Office buildings 4,311,160 1.35
LaSalle National Bank Office buildings 37483,110 1.09
Trust #102160
McDonald's Corporation Corporate office 3,413,640 1.07
headquarters
Manufacturer's Life Executive towers 3,040,760 .95
Real Estate
Marshall Field & Retail store 2,927,770 .92
Company
—
Oak Brook Hyatt House Hotel 2,745,620 .86
Eastman Kodak Regional headquarters 2,384,250 .75 _
Sears, Roebuck & Co. Retail store 2,215,130 .70
$ 39,821,416 12.50%
98
Table 14
VILLAGE OF OAK BROOK, ILLINOIS
Insurance in Effect
Fiscal year 1983-1984
Name of company Policy period Amount of
Type of insurance (policy number) From To coverage Premium
Employee benefit St. Paul Insurance $100,000
programs liability Company each
(512TD2984) 5-15-83 5-15-84 occurrence $ 242
Boiler and machinery Chubb/Pacific $1,000,000
insurance Indemnity Group each
(7827-60-60) 5-15-83 5-15-84 occurrence 955
Treasurer's bond American Motorists
Insurance Company
(3SM-061-900) 4-13-83 4-13-84 $100,000 73
Volunteer accident Home Insurance
insurance Company $17,500 each
(HVF-7-14-61) 5-15-83 5-15-84 occurrence 932
Host Liquor Continental
Liability Casualty
(RDD6925030 $1,000,000
Lloyds, London each
BL24851CA) 11-24-82 11-24-83 occurrence 11798
Note - The Village entered into a contractual agreement with 14 other municipalities to
form the Intergovernmental Risk Management Agency (IRMA), which through its
risk-sharing provisions provides the Village with its insurance coverage for
liability, property damage, workmen's compensation, and surety risks not covered by
the Village' s Treaurer's Bond. The Village's contribution to this cooperative
agency for 1983 was $135,613 and was determined by the pro rata share for each
municipality's audited revenues and loss experience for the previous year, to be
sufficient annually to fund administrative expenses and create sufficient reserves
for claim payments and the purchase of excess insurance. The Agency provides loss
protection in excess of a deductible of $1,000 per occurrence to be paid by each
municipality. The Agency is required to pay up to $250,000 per occurrence for loss
or injury within the scope of its self-insurance coverage. The Agency has also
purchased excess catastrophe insurance over the amount of its $250,000 obligation
and aggregate stop loss insurance. The amount of excess insurance is $9,750,000 per
occurrence for liability claims and $19,750,000 for property claims. The Agency has
contracted the services of Gallagher Bassett Insurance Service for the claims
administration function. As of April 30, 1983 IRMA members totaled 37
municipalities.
99
Table 15
VILLAGE OF OAK BROOK, ILLINOIS
—
Miscellaneous Statistical Data
April 30, 1983
Date of incorporation February 21, 1958 �•
Form of government Seven member Board of Trustees, including
President; Village Manager appointed by
Board of Trustees
Area 8.5 square miles
Miles of streets 53 miles
Number of street lights 385
Fire protection: Number of stations 2
Number of firemen 34
Number of volunteers 20
Police protection: Number of stations 1
Number of policemen
and officers 37 .�
Detention facilities 2 juvenile; 6
adult
Education (elementary
only): Attendance centers 2
Number of teachers 43
Number of students 468
Municipal water department: Number of customers: 4,098 residential
345 commercial
76 unmetered
Total water pumped 1,068,232,000 gallons
Average daily
consumption 2,926,663 gallons
Miles of water mains 74.5
Building permits issued 57
Recreation: Oak Brook Sports Core - 269 acres including bath
and tennis club and 18-hole golf course
Oak Brook Park District - 66 acres including .�
indoor and outdoor tennis
DuPage County Forest Preserve - 141 acres
Culture: Number of libraries 1
Number of volumes 30,774
Census data 1960, 324; 1970, 4,164; 1975, 5,281 ; 1980, 6,641 _
Employees: 121 full time
121 part time
100