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Annual Financial Report
Year Ended April 30, 1980
ANNUAL
FINANCIAL REPORT
VILLAGE OF OAK BROOK, ILLINOIS
Year ended April 30, 1980
PRESIDENT
Wence F. Cerne
CLERK
Marianne Lakosil
TRUSTEES
George Congreve
Arthur W. Philip
Barbara F. Reynolds
Joseph H. Rush
William R. Watson
VILLAGE MANAGER
Kenneth G. Carmignani
-1-
PART I
Letter Report of the Village Manager
Certificate of Conformance--1979 Annual Report
PART II
Accountants' Report
Financial Statements
PART III
Financial Statistics
-2-
VILLAGE OF OAK BROOK, ILLINOIS
Annual Financial Report
Year ended April 30, 1980
TABLE OF CONTENTS
Exhibits
Financial Supplementary Page
Statement Information Number
Part I--Introductory Section:
Letter Report of the Village Manager . . . . . . . . . 7
Certificate of Conformance--1979
Annual Report. . . . . . . . . . . . . . . . 14
Part II--Financial Statements:
Accountants' Report. . . . . . . . . . . . . 15
_ Combined Statements and Schedules:
Balance Sheet--All Funds and Account
Groups, April 30, 1980 . . . . . . . . . . . .AA 16
Statement of Revenue and Expenditures and
Fund Balance--All Governmental Fund
Types and Trust and Agency Funds, Year
Ended April 30, 1980 . . . . . . . . . . . . . . .BB 18
Statement of Revenue--General and Special
Revenue Funds (and Comparison with Estimated
Revenue) , Year Ended April 30, 1980. . . . . . . .CC 19
_ Statement of General Governmental Expenditures--
General and Special Revenue Funds (and
Comparison with Appropriations) , Year
_ Ended April 30, 1980 . . . . . . . . . . . . .DD 20
Statement of Revenues, Expenses and
Changes in Retained Earnings--
Proprietary Fund Type,
Year Ended April 30, 1980. .EE 21
Statement of Changes in Financial
Position--Proprietary Fund Type,
Year Ended April 30, 1980. . . . . . .FF 22
Schedule of Interfund Accounts,
April 30, 1980 . . . . . . . . . . . . GG 23
_ Schedule of Investments--All Funds,
April 30, 1980 . . . . . . . . . . . . . . HH 24
Corporate Fund:
Balance Sheet, April 30, 1980. .A 27
Statement of Revenue and Expenditures (and
Comparison with Estimated Revenue and
Appropriations) and Fund Balance, Year
Ended April 30, 1980 . . . . . . . . . . . . . . .A-1 28
Schedule of Detailed Revenue (and Comparison
_ with Estimated Revenue) , Year Ended
April 30, 1980 . . . . . . . . . . . . . . A-2 29
-3-
TABLE OF CONTENTS (CONT'D)
Exhibits
-- Financial Supplementary Page
Statement Information Number
Corporate Fund (Cont'd) :
Schedule of Detailed Operating Expenditures
(and Comparison with Appropriations) ,
_ Year Ended April 30, 1980. . . . . . . . . . . . . A-3 30
Schedule of Capital Outlay (and Comparison
with Appropriations) , Year Ended
April 30, 1980 . . . . . . . . . . . . . . . . . . A-4 46
Special Revenue Funds:
Combined Balance Sheet, April 30, 1980 . . . . . . .B 48
-- Combined Statement of Revenue and
Expenditures and Fund Balance,
Year Ended April 30, 1980. . . . . . . .B-1 49
Statement of Revenue and Expenditures
(and Comparison with Estimated Revenue
and Appropriations) and Fund Balance,
Year Ended April 30, 1980:
Motor Fuel Tax Fund. . . .C 50
Federal Revenue Sharing Trust Fund .D 51
Debt Service Fund:
Balance Sheet, April 30, 1980. . . . . . . . .E S2
Statement of Revenue and Expenditures
and Fund Balance, Year Ended
April 30, 1980 . . . . . . . . . . . . . .E-1 53
_ Capital Projects Funds:
Combined Balance Sheet, April 30, 1980 . . .F 54
Combined Statement of Revenue and
Expenditures and Fund Balance,
Year Ended April 30, 1980. . . . . . . . . . .F-1 55
Enterprise Funds:
Combined Balance Sheet, April 30, 1980 . . .G 56
Statements of Revenue and Expenses (and
Comparison with Estimated Revenue and
_ Appropriations) , Year Ended
April 30, 1980:
Waterworks System Fund . . . . . . . . . . . . .G-1 57
Sports Core Fund . . . . . . . . . . . . . . . .G-2 58
Combined Statement of Changes in Retained
Earnings, Year Ended April 30, 1980. . . . . . . .G-3 59
Combined Statement of Changes in Financial
Position, Year Ended April 30, 1980. . . . . . . .G-4 60
-4-
TABLE OF CONTENTS (CONT'D)
Exhibits
Financial Supplementary Page
Statement Information Number
Enterprise Funds (Cont'd):
Schedules of Operating Expenses and Summary
of Capital Outlay (and Comparison with
Appropriations) , Year Ended
April 30, 1980:
Waterworks System Fund . . . . . . G-5 61
Sports Core Fund . . . . . . . . . G-6 64
Schedules of Property, Plant and Equipment
and Accumulated Depreciation and
Amortization, Year Ended April 30, 1980:
Waterworks System Fund . . . . . . . . . . . . . G-7 66
Sports Core Fund . . . . . . . . . . . . . . . . G-8 67
Trust and Agency Funds:
Combined Balance Sheet, April 30, 1980 . .H 68
Combined Statement of Revenue and Expenditures
and Reserve for Funded Obligations,
Year Ended April 30, 1980. . . . . . . . . . .H-1 69
Statement of Revenue and Expenditures
(and Comparison with Budget) and
Reserve for Funded Obligations,
Year Ended April 30, 1980:
Police Pension Fund. . . . . . . . . . . . . .I 70
Firemen's Pension Fund . . . . . . . . . . .J 71
General Fixed Assets--Statement of General
Fixed Assets, April 30, 1980 . . . . . .K 72
General Long-Term Debt:
Statement of General Long-Term Debt,
April 30, 1980 . . . . . . . . . . . . .L 73
Schedule of Debt Service to Maturity,
April 30, 1980 . . . . . . L-1 74
Notes to Financial Statements. 75
-5-
TABLE OF CONTENTS (CONT'D)
Supplementary
Information-- Page
Table Number
-- Part III--Financial Statistics:
General Governmental Expenditures by Function,
Last Ten Fiscal Years. . . I 82
General Revenues by Source, Last Ten Fiscal Years. II 83
Assessed and Estimated Actual Value of Taxable
Property, Last Ten Fiscal Years. . . . . . . . . 0 III 84
Property Tax Levies and Collections, Last
Three Fiscal Years . . . . . . . . . . IV 85
Property Tax Rates--All Overlapping Governments
(per $100 Assessed Valuation) , Last Ten
Fiscal Years . . . V 86
bt
Computation of Legal DeMargin, April 30, 1980. VI 87
General Bonded Debt Data, April 30, 1980 . . . . . VII 88
Revenue Bond Coverage--Waterworks System Bonds,
Last Five Fiscal Years . . . . . VIII 89
Ca
Building Permit Data, Last Ten lendar Years. IX 90
Insurance in Effect, Fiscal Year 1980-1981 . . . . . . . X 91
Miscellaneous Statistical Data, April 30, 1980 . . . . . . XI 92
-6-
r �
Certificate
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, 1979
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.
�cT;CF
OE THE •'9�
UNITED STATES q
�•
AND iy President
_ QI CANADA
CORPORATION J!,�
•I'CHIC AGO
Executive Director-
-14—
Ernst &Whinney 150 South Wacker Drive
Chicago, Illinois 60606
President, Board of Trustees and 312/368-1800
Village Manager
Village of Oak Brook
Oak Brook, Illinois
We have examined those financial statements of the respective funds and
groups of accounts of the Village of Oak Brook, Illinois as of April 30,
1980, or for the year then ended, which are listed as "Financial State-
ments" in the table of contents in the preceding section of this report.
Our examination was made in accordance with generally accepted auditing
standards and, accordingly, included such tests of the accounting records
and such other auditing procedures as we considered necessary in the
circumstances.
In our opinion, the financial statements referred to above present fairly
the financial positions of the respective funds and groups of accounts of
the Village of Oak Brook, Illinois at April 30, 1980, and the revenues,
expenditures and results of operations and changes in reserves, fund
balances, retained earnings and financial position of such funds for the
year then ended in conformity with generally accepted accounting prin-
ciples applied on a basis consistent with that of the preceding year.
The financial information listed as "Supplementary Information" in the
table of contents in the preceding section of this report was derived
from the accounting records tested by us as part of the auditing pro-
cedures followed in our examination of the aforementioned financial
statements, and in our opinion it is fairly presented in all material
respects in relation to the financial statements taken as a whole;
however, it is not necessary for a fair presentation of the financial
positions, revenues, expenditures and results of operations and changes
in reserves, fund balances, retained earnings and financial position of
the respective funds and groups of accounts of the Village of Oak Brook,
Illinois. The supplementary information listed as "Financial Statistics"
in the table of contents in the preceding section of this report relating
to details of the assessed value of property, tax extensions and debt
outstanding for sources other than the Village of Oak Brook, Illinois,
building permit data and insurance data and the schedule entitled "Mis-
cellaneous Statistical Data" was not subjected to independent testing as
it does not involve information which enters into the aforementioned
financial statements.
In connection with our examination, we also performed tests of compliance
with the Revenue Sharing Act and regulations as required by the Audit
Guide and Standards for Revenue Sharing and Anti-Recession Fiscal Assis-
tance Fund Recipients (Guide) issued by the Office of Revenue Sharing,
U.S. Department of the Treasury and verified the census data as required
by the Guide. Based on these procedures, we noted no instance of noir
compliance with the regulations and no material differences between
census data on Form RS-9 and the records of the Village of Oak Brook for
the year ended April 30, 1980.
Chicago, Illinois
June 20, 1980
-15-
IExhibit AA
VILLAGE OF OAK BROOK, ILLINOIS
IAll Funds and Account Groups
Combined Balance Sheet
IApril 30, 1980
Fiduciary
IGovernmental Fund Types Proprietary Fund Type Account Groups
Special Debt Capital Fund Type Trust and General General
Corporate Revenue Service Projects Enterprise Agency Fixed Long-Term Total
I Fund Funds Fund Funds Funds Funds Assets Debt (Memorandum
(Exhibit A) (Exhibit B) (Exhibit E) (Exhibit F) (Exhibit G) (Exhibit H) (Exhibit K) (Exhibit L) Only)
ASSETS
ICash (overdraft) $ (622) $ 2 $ 460 $ 113 $ (47)
Investments 3,349,094 $82,891 $ 287,657 35,716,881 1,555,500 331060,449 12,052,472
I Accrued interest receivable 91,733 4,693 226,537 115,539 46,824 381026
Sales taxes receivable 1,045,000 151045,000
Allotments receivable 51,187 5,187
Accounts receivable--customers:
I Billed water sales 42,812 42,812
Estimated unbilled water sales 118,351 118,351
State income taxes receivable 103,341 10,341
Property taxes receivable 476,142 476,142
Accounts receivable--other 16,659 22,171 38,830
Due from other funds 740 96,639 72,832 170,211
Inventory of equipment and supplies 209791 20,791
I Fixed assets, net of accumulated depreciation
and amortization 179089,890 $8,161,754 25112519,644
Unamortized bond discount 73,762 73,762
I Amounts to be provided from future tax levies
and other sources 956,150 $10,942,744 11,898,894
I $4,533,736 $88,078 $ 865,131 $3,943,420 $18,914,485 $4,136,368 $8,161,754 $10,942,744 $51,585,716
LIABILITIES, RESERVES AND FUND EQUITY
I Accounts payable $ 409,562 $ 4,819 $ 134,354 $ 548,735
Accrued payroll 112,080 6,756 118,836
Performance bonds payable 108,605 108,605
Contracts payable $ 35,353 109-000 45,353
Other accrued expenses 125,123 125,123
Accrued interest payable 52,834 52,834
I Debt service payable from current tax
levy (including interest of $686,875) $1,086,875 1,086,875
Purchase agreement payable 3,375,000 3,3751P000
Deposits 7,204 7,204
I Due to other funds 72,832 96,639 740 170,211
Due to other agencies 20,193 209193
Revenue bonds payable 5,525,000 5$ 25,000
I
I
I -16-
i
Exhibit AA
VILLAGE OF OAK BROOK, ILLINOIS
IAll Funds and Account Groups
ICombined Balance Sheet (Cont'd)
IFiduciary
Governmental Fund Types Proprietary Fund Type Account Groups
Special Debt Capital Fund Type Trust and General General
I Corporate Revenue Service Projects Enterprise Agency Fixed Long-Term Total
Fund Funds Fund Funds Funds Funds Assets Debt (Memorandum
(Exhibit A) (Exhibit B) (Exhibit E) (Exhibit F) (Exhibit G) (Exhibit H) (Exhibit K) (Exhibit L) Only)
ILIABILITIES, RESERVES AND FUND EQUITY (CONT'D)
Payable from future revenue and other sources:
I General obligation recreation bonds payable $10,000,000 $10,000,000
Notes payable 721,000 721,000
Deficit in Debt Service Fund 221 ,744 221 ,744
TOTAL LIABILITIES $ 723,272 $ 4,819 $1,086,875 $3,684,949 $ 5,684,054 $ - $ - 10,942,744 22,126,713
Reserves:
I Funded obligations:
Statutory 326,000 326,000
I Excess 2,854,218 2,854,218
Unfunded actuarial deficiency for prior
service costs 956,150 956,150
TOTAL RESERVES - - - - - 4,136,368 - - 4,136,368
IFund equity:
Contributed capital 10,279,655 10,279,655
Equity in fixed assets 8,161,754 8,161,754
I Unappropriated (deficit) 3,810,464 83,259 (221 ,744) 258,471 2,950,776 - - 6,881,226
TOTAL FUND BALANCES/RETAINED EARNINGS 3,810,464 83,259 (221 ,744) 258,471 13,230,431 8,161 ,754 25,322,635
I24,533,736 88,078 $ 865,131 $3,943,420 $181914,485 4,136,3681 $8,161 ,754 $10,942,744 251 ,585,716
ISee notes to financial statements
I
I
I
I
1
I -17-
i
Exhibit BB
IVILLAGE OF OAK BROOK, ILLINOIS
All Governmental Fund Types and Trust and Agency Funds
ICombined Statement of Revenue and Expenditures and Fund Balance
IYear ended April 30, 1980
I Special Debt Capital Trust and Total
Corporate Revenue Service Projects Agency (Memorandum
Fund Funds Fund Funds Funds Only)
Revenue:
I Intergovernmental revenue $4,881,817 $106,125 $4,987,942
Service charges 148,497 148,497
Licenses and permits 192,044 192,044
I Fines and penalties 88,678 88,678
Interest on investments 336,901 9,482 $ 49,160 $ 490,727 $ 222,171 1,108,441
Miscellaneous 377,825 22,740 135 400,700
Transfer from Waterworks System Fund 140,000 140,000
I Transfer from Federal Revenue Sharing Trust Fund 18,140 18,140
Personal property tax reimbursement 13,149 13,149
Property tax levy, net 444,767 444,767
I Employees' contributions 111,548 111,548
Village contributions 447,630 447 ,630
TOTAL REVENUE 6,165,762 115,607 516,667 522,016 781,484 8,101,536
I Expenditures:
Operating:
Legislative and general government 824,226 824,226
Public safety 2,538,696 2,538,696
I Public works 533,709 64,721 598,430
Health and welfare 16,595 16,595
Culture and recreation 65,673 39,513 105,186
I Bond interest 454,650 454,650
Bond principal 400,000 400,000
Bike pathway system construction 18,140 18,140
I Interest on purchase agreement 189,810 189,810
Administration 26,258 26,258
Miscellaneous 16,676 16,676
Pension benefit expense 51,779 51,779
I Audit fee 1,010 1,010
Service and maintenance 55,491 55,491
Refund of charter membership fee 200 200
OPERATING EXPENDITURES 3,978,899 104,234 854,650 289,899 69,465 5,297,147
Capital outlay 1 ,082,384 18,140 846,665 1 ,947,189
TOTAL EXPENDITURES 5,061 ,283 122,374 854 ,650 1 ,136,564 69,465 7 ,244,336
EXCESS (DEFICIENCY) OF REVENUE OVER EXPENDITURES 1, 104,479 (6,767) (337,983) (614,548) 712,019 857,200
IDeduct equity transfer to Sports Core Fund 33,885 33,885
Fund balance/reserve for funded obligations at April 30, 1979 2,705,985 90,026 116,239 906,904 2,468,199 6,287 ,353
I FUND BALANCE (DEFICIT)/RESERVE FOR
FUNDED OBLIGATIONS AT APRIL 30, 1980 $3,810,46483$X259 (2251,744) $ 258,471 $3,180,218 $7 ,110,668
ISee notes to financial statements
I -18-
Exhibit CC
VILLAGE OF OAK BROOK, ILLINOIS
General and Special Revenue Funds
Combined Statement of Revenue
(and Comparison with Estimated Revenue)
Year ended April 30, 1980
Actual
Estimated Actual Over (Under)
Source and Fund Revenue Revenue Estimated
Intergovernmental revenue:
General $3,638,015 $4,881,817 $1,243,802
Special Revenue 101,800 106,125 4,325
TOTAL INTERGOVERNMENTAL REVENUE 3,739,815 4,987,942 1,248,127
Licenses and permits--General 186,725 192,044 5,319
Charges for services--General 147,547 148,497 950
Fines and penalties--General 89,000 88,678 (322)
Interest on investments:
General 120,000 336,901 216,901
Special Revenue 4 ,900 9,482 4,582
TOTAL INTEREST EARNED ON INVESTMENTS 124,900 346,383 221,483
Miscellaneous--General 363,500 377,825 14,325
Transfer from Waterworks System Fund 140,000 140,000 -
TOTAL REVENUE $4 ,791,487 $6,281 ,369 $1 ,489 ,882
See notes to financial statements
-19-
Exhibit DD
VILLAGE OF OAK BROOK, ILLINOIS
General and Special Revenue Funds
Combined Statement of General Governmental Expenditures
(and Comparison with Appropriations)
Year ended April 30, 1980
(Over) Under
Function and Fund Appropriations Expenditures Expended
General government--General $ 864,810 $ 853,645 $ (11,165)
Public safety--General 2,849,924 2,685,340 (164,584)
Public works:
General 1,433,351 1,417,014 (16,337)
Motor Fuel Tax 48,840 52,721 3,881
Health and welfare--General 25,112 16,595 (8,517)
Culture and recreation--General 96,432 88,689 (7 ,743)
TOTAL EXPENDITURES $52318,469 $5,114,004 (20�$4,465)
See notes to financial statements
-20-
Exhibit EE
VILLAGE OF OAK BROOK, ILLINOIS
Proprietary Fund Type
Combined Statement of Revenues, Expenses
and Changes in Retained Earnings
Year ended April 30, 1980
Operating revenue:
Charges for services $1,777,673
Interest 159,551
1,937,224
Operating expenses:
Operation of facilities 702,613
General and administrative 73 ,599
776.212
NET OPERATING INCOME BEFORE DEPRECIATION 1,161,012
Provision for depreciation 258,266
NET OPERATING INCOME 902,746
Other income (expense):
Bond interest expense (300,925)
Miscellaneous (80,006)
(380,931)
NET INCOME 521,815
Add equity transfer from Capital Projects Fund 33,885
Retained earnings at April 30, 1979 2,395,076
RETAINED EARNINGS AT APRIL 30, 1980 $2 ,950,776
See notes to financial statements
-21-
Exhibit FF
VILLAGE OF OAK BROOK, ILLINOIS
Proprietary Fund Type
Combined Statement of Changes in Financial Position
Year ended April 30, 1980
Sources of funds:
Operations:
Net income $ 521,815
Add provisions for depreciation and
amortization of bond discount which
did not require use of funds 264,054
TOTAL FROM OPERATIONS 785,869
Contribution from municipality 846,665
_ Transfer from Capital Projects Fund 33,885
TOTAL SOURCES OF FUNDS 1,666,419
Applications of funds:
Capital outlay 1,021,437
Reduction in bonds payable 250,000
TOTAL APPLICATION OF FUNDS 1 ,271 ,437
INCREASE IN WORKING CAPITAL FOR THE YEAR $ 394 ,982
_ Changes in components of working capital:
Increase (decrease) in current assets:
Cash $ 78
Receivables (123,631)
Inventories (38,054)
Investments 467,872
306,265
Increase (decrease) in current liabilities:
Accounts payable (90,263)
Member deposits 5,230
_ Accrued payroll 1, 146
Due to other f unds 502
Contract payable (30,332)
Current portion of bonds payable 25,000
(88,717)
INCREASE IN WORKING CAPITAL 394,982
See notes to financial statements
-22-
Exhibit GG
VILLAGE OF OAK BROOK, ILLINOIS
Schedule of Interfund Accounts
April 30, 1980
Due from Due to
Other Other
Fund Funds Funds
Corporate:
Waterworks System $ 740
Police Pension $32,831
Firemen' s Pension 40,001
TOTAL CORPORATE $ 7407$ 2 ,832
— Waterworks System--Corporate $ 740
Trust and Agency:
Police Pension--Corporate $32,831
Firemen's Pension--Corporate 40,001
�. TOTAL TRUST AND AGENCY $72,832
Debt Service--Capital Projects $96,639
Capital Projects--Debt Service $96,639
See notes to financial statements
-23-
Exhibit HH
VILLAGE OF OAK BROOK, ILLINOIS
— Schedule of Investments--All Funds
April 30, 1980
Interest Maturity Par
— Fund Rate Date Value
Coporate Fund:
— Certificates of deposit: 14.00 % 5-19-80 $ 600,000
13.50 6-16-80 400,000
13.80 8-14-80 465,000
— 13.375 7-10-80 100,000
16.75 3-19-81 760,000
16.125 11-28-80 475,000
14.00 10-21-80 100,000
Savings account 5.25 - 10
Repurchase agreement 11.00 5-1-80 449,084
TOTAL CORPORATE FUND $3,349,094
Special Revenue Funds:
Motor Fuel Tax Fund:
Savings account 5.25 - $ 58
Repurchase agreement 11.00 5-1-80 52 ,581
52,639
Federal Revenue Sharing Fund:
Savings account 5.25 - 28
Repurchase agreement 11.00 5-1-80 30,224
-' 30,252
TOTAL SPECIAL REVENUE FUNDS $ 82 ,891
Debt Service Fund:
Certificate of deposit 16.50 5-30-80 $ 284,453
— Repurchase agreement 11.00 5-1-80 3 ,204
TOTAL DEBT SERVICE FUND $ 287 ,657
-" Capital Project Funds:
Sports Core Purchase Agreement
and Golf Course Fund:
Certificate of deposit: 9.75 6-24-80 $1,574,880
12.75 5-28-80 208,284
15.00 7-23-80 350,000
12.00 1-2-81 1,471,806
Repurchase agreement 11.00 5-1-80 111 ,911
TOTAL CAPITAL PROJECT FUNDS $3,716,881
-24-
Exhibit, HH
VILLAGE OF OAK BROOK, ILLINOIS
Schedule of Investments--All Funds (Cont'd)
Interest Maturity Par
Fund Rate Date Value
Enterprise Funds :
Certificates of deposit: 14.00 % 5-19-80 $ 152,411
12.85 10-27-80 520,542
14.00 10-21-80 726,108
Savings accounts 5.25 - 56,831
Repurchase agreement 11.00 5-1-80 99 ,608
TOTAL ENTERPRISE FUNDS $1 ,555 ,500
Trust and Agency Funds:
Police Pension Fund:
Certificates of deposit: 6.75 10-15-80 $ 40,000
13.25 2-1-81 100,000
7.75 4-22-81 40,000
7.50 5-13-81 40,000
- 7.50 5-13-81 40,000
7.75 5-13-81 40,000
7.50 5-13-81 40,000
7.50 5-13-81 40,000
7.75 5-13-81 40,000
7.50 1-28-82 40,000
U.S. Treasury notes 8.25 8-15-85 134,652
8.00 8-15-86 132,532
8.50 5-15-99 96,204
9.25 5-15-89 91,273
9.30 6-12-89 88,554
Federal National Mortgage
Association 8.40 9-10-82 99,604
-- 8.60 6-10-85 145,294
7.50 10-13-87 173,246
8.55 9-12-88 98,694
Savings account 5.25 - 18,978
1,539,031
-25-
Exhibit HH
VILLAGE OF OAK BROOK, ILLINOIS
Schedule of Investments--All Funds (Cont'd)
_ Interest Maturity Par
Fund Rate Date Value
Trust and Agency Funds (Cont' d) :
-- Firemen's Pension Fund:
Certificates of deposit: 6.75 % 5-27-80 $ 30,000
6.75 5-27-80 30,000
13.00 6-13-80 100,000
12.256 8-14-80 100,000
6.75 8-17-80 100,000
6.75 10-17-80 70,000
7.50 10-22-80 40,000
7.50 1-31-81 40,000
13.25 2-1-81 100,000
7.50 4-7-81 40,000
7.50 5-12-81 40,000
7.50 7-16-81 40,000
-- 6.75 9-17-81 65,000
7.50 12-9-81 40,000
7.50 10-13-81 40,000
6.75 2-1-81 40,000
6.75 2-4-81 40,000
12.00 9-12-82 40,000
7.50 9-14-82 70,000
7.85 7-18-83 40,000
Federal National Mortgage
Association 9.20 4-10-86 98,941
9.375 9-10-81 99,790
U.S. Treasury note 8.25 6-30-82 50,026
8.00 2-15-85 87,742
Savings account 5.25 - 79,919
1 ,521 ,418
TOTAL TRUST AND AGENCY FUNDS $3,060,449
See notes to financial statements
-26-
Exhibit A
VILLAGE OF OAK BROOK, ILLINOIS
Corporate Fund
Balance Sheet
— April 30, 1980
ASSETS
Cash (overdraft) $ (622)
Investments:
Savings account 10
Certificates of deposit 2,900,000
.- Repurchase agreements 449,084
3,349,094
Accrued interest receivable 91,733
Sales taxes receivable 1,045,000
State income taxes receivable 10,341
Accounts receivable--other 16,659
-' Due from other funds 740
Inventory of supplies 20,791
-- TOTAL ASSETS $4 ,533 ,736
LIABILITIES
Accounts payable $ 409,562
Accrued payroll 112,080
Performance bonds payable 108,605
Due to other funds 72,832
Due to other agencies 20,193
Fund balance--unappropriated 3 ,810,464
TOTAL LIABILITIES AND FUND BALANCE $4,533 ,736
See notes to financial statements
-27-
Exhibit A-1
VILLAGE OF OAK BROOK, ILLINOIS
Corporate Fund
Statement of Revenue and Expenditures (and Comparison with
Estimated Revenue and Appropriations) and Fund Balance
Year ended April 30, 1980
Estimated
Revenue and
Appropriations Actual
Revenue (Exhibit A-2):
Intergovernmental revenue:
Municipal sales tax $3,478,000 $4,697,077
Illinois state income tax 823,015 973,725
York Township road and bridge tax 78,000 87,015
Service charges 147,547 14810497
Licenses and permits 186,725 192,044
Fines and penalties 892000 88,678
Miscellaneous 4839500 7142726
Transfer from Waterworks System Fund 140,000 1403,000
TOTAL REVENUE 4,684,787 6,165,762
Expenditures:
Operating (Exhibit A-3):
Legislative 35,105 25,873
General government 789,246 798,353
Public safety 22693,084 2,538,696
Public works 5262401 5333,709
Health and welfare 252112 16,595
Culture and recreation 73,332 652673
TOTAL OPERATING EXPENDITURES 43, 142,280 33,9782899
Capital outlay (Exhibit A-4):
General government 402459 29,419
Public safety 156,840 1462644
Public works 906,950 8833,305
Culture and recreation 23,100 233,016
... TOTAL CAPITAL OUTLAY 1,1272349 1,082,384
TOTAL EXPENDITURES 5,2692629 5,061,283
EXCESS (DEFICIENCY) OF
REVENUE OVER EXPENDITURES $ (584,842) 12104,479
Fund balance at April 30, 1979 23,705,985
FUND BALANCE AT APRIL 30, 1980 $3,810,464
See notes to financial statements
._ -28-
Exhibit A-2
VILLAGE OF OAK BROOK, ILLINOIS
Corporate Fund
Schedule of Detailed Revenue (and
Comparison with Estimated Revenue)
Year ended April 30, 1980
Estimated
Revenue Actual
Municipal sales tax
p $3,478,000 $4,697,077\,
Illinois state income tax 82,015 97,725\
York Township road and bridge tax 78,000 �` 87,015"v
Service charges:
Plan review fees 12,000 10,080
Special police service 22,000 34,559
Special fire and ambulance service 32,500 17,488
Engineering inspection fees 49,000 59,116
Police training reimbursement 7,447 6,293
Fire training reimbursement 7,000 5,856
Zoning fees 3,000 2,783
Recording of legal instruments 100 -
Miscellaneous 12,000 10,927
Registration fees 2 ,500 1 ,39
147,547 148,497
Licenses and permits:
Liquor 35,000 42,6001-
Electrical 29,500 30,827
Building structure 59,400 54,497
Vending machine 13,000 15,688
Elevator 9,500 9,500
Plumbing 2 5,82 5 13,398,
Garbage 1,500 1,125'
Miscellaneous 13,000 24,409
186,725 192,044\
Fines and penalties:
Assessed by courts 65,000 66,530
Assessed by Village 24,000 22 ,148
89,000 88,678 '
Miscellaneous:
Interest on investments 120,000 336,901'-
Reimbursement for loss 100 -
Foreign fire insurance tax 8,900 10,556
Contribution from private source 350,000 350,000
Miscellaneous 4,500 17 ,269
483,500 714,726
Transfer from Waterworks System Fund 140,000 140,000
TOTAL REVENUE $4,684,787 $6,165,762
See notes to financial statements
-29-
Exhibit A-3
VILLAGE OF OAK BROOK, ILLINOIS
Corporate Fund
Schedule of Detailed Operating Expenditures
(and Comparison with Appropriations)
Year ended April 30, 1980
Appropriations Actual
Legislative:
-- Board of Trustees:
Salaries and wages $ 6,204 $ 5,633
Advertising 660 28
_ Entertainment 275 1,208
Bond coverage - 8
FICA taxes 264 320
General office supplies - 204
Dues and membership 1,100 1,004
Other commodities 440 294
Other fixed charges 28 14
Other contractual services 3,410 1,225
Contribution to IRMA 950 668
Photo, printing and duplicating 1,595 3 ,473
14,926 14,079
Plan Commission:
Salaries and wages 2,563 2,025
Printing 19100 208
Other commodities 11 -
Other contractual services 165 58
Pension contribution - 235
-- FICA taxes 132 13
Duplicating and drafting supplies 330 91
Photo and blueprinting 27 -
General office supplies 22 7
Postage 66 -
Advertising 165 -
Maps , magazines, periodicals and books 55 -
4,636 2,637
Board of Firemen and Police:
Medical and hospital services 2,035 1,759
Professional services 1,540 1,385
Advertising 440 261
-- Other contractual services 3,300 1,368
Dues and membership 110 125
Other commodities 110 -
7,535 4,898
-30-
Exhibit A-3
VILLAGE OF OAK BROOK, ILLINOIS
Corporate Fund
Schedule of Detailed Operating Expenditures
(and Comparison with Appropriations) (Cont' d)
Appropriations Actual
Legislative (Cont'd):
Zoning Board of Appeals:
Salaries and wages $ 2,563 $ 2,088
Advertising 990 862
Other contractual services 2,970 633
Postage 11 -
Pension contribution - 235
Printing 1,100 371
FICA taxes 132 15
General office supplies 22 -
Photo, printing and duplicating 220 55
8,008 4 ,259
TOTAL LEGISLATIVE 35,105 25,873
General Government:
Legal:
Legal services 3,300 1,039
Court cost and litigation 11,000 72,107
Salaries and wages 42,471 41, 115
Telephone and telegraph 440 536
Travel expense 110 720
Advertising - 127
'- Office equipment maintenance 154 136
Postage 220 200
Reception and entertainment 220 43
Pension contribution 5,500 5,264
Medical and life insurance 1,769 2,710
Public liability and property insurance - 62
Medical and hospital service - 117
Training 330 299
Dues and membership 275 286
General office supplies 550 475
Maps, magazines and periodicals 1,320 729
Photo, printing and duplicating 275 653
Contribution to IRMA 825 580
68,759 127,198
-31-
Exhibit A-3
VILLAGE OF OAK BROOK, ILLINOIS
Corporate Fund
Schedule of Detailed Operating Expenditures
(and Comparison with Appropriations) (Cont'd)
Appropriations Actual
General Govern went (Con t'd):
Village Manager's Office:
Salaries and wages, including
temporary wages $ 81,763 $ 78,701
Telephone and telegraph 880 625
Postage 385 532
Travel expenses 550 697
Automotive equipment maintenance 385 659
Office equipment maintenance 220 210
Medical and hospital 165 63
-- Professional services 550 65
Advertising 110 305
Printing 1,100 -
Photographing 11 8
Training expenses 550 523
Entertainment 440 676
`- Other contractual services 28 30
Noninsured losses 314 -
-- Public liability and property insurance - 143
Bond coverage 55 5
Pension contribution 10,813 10,182
FICA taxes 83 128
Medical and life insurance 3,190 3,661
License fees 11 8
Dues and membership 770 585
General office supplies 660 1,254
Periodicals and books 220 164
Rental of equipment - 90
Gas and oil 660 815
—. Automotive equipment materials 825 666
Duplicating and drafting supplies 770 1,263
Other commodities 11 38
Service awards - 350
Contribution to IRMA 806 567
106,325 103,013
-32-
Exhibit A-3
VILLAGE OF OAK BROOK, ILLINOIS
Corporate Fund
Schedule of Detailed Operating Expenditures
(and Comparison with Appropriations) (Cont' d)
Appropriations Actual
General Government (Cont'd):
Elections:
Salaries and wages $ 220 $ -
Advertising 165 -
Printing 550 -
Rental of equipment 33 13
Food 44 -
Postage 16
1,028 13
Finance and Accounting:
Salaries and wages, including
temporary wages 79,574 80,014
Telephone and telegraph 688 664
Postage 4,400 3,201
Office equipment maintenance 550 725
Fiscal agent service 37 12
Auditing services 8,712 7,990
Advertising 12100 284
Printing 138 374
Entertainment 55 -
Other contractual services 19,250 21,371
Training - 200
.— Noninsured losses 27 -
Bond coverage - 9
Public liability and property insurance - 330
Pension contribution 9,166 9,312
FICA taxes 545 493
Medical and life insurance 6,523 6,230
Unemployment insurance 3,300 1,013
Rental of equipment 3,498 3,379
Dues and membership 33 65
General office supplies 825 1,378
Periodicals and books 28 1
_. Duplicating and drafting supplies 220 262
Travel expense 28 26
Medical and hospital service 143 254
Training 176 -
Household institutional supplies 715 672
Other commodities 27 1
Minor equipment and tools 28 -
Contribution to IRMA 1,372 971
141,158 139,231
-33-
Exhibit A-3
VILLAGE OF OAK BROOK, ILLINOIS
Corporate Fund
Schedule of Detailed Operating Expenditures
(and Comparison with Appropriations) (Cont'd)
Appropriations Actual
General Government (Cont'd):•
Engineering:
Salaries and wages, including
temporary wages $ 65,175 $ 57,245
Telephone and telegraph 1,100 761
Travel expenses 165 9
Automotive equipment maintenance 110 305
Office equipment maintenance 275 136
Other equipment maintenance 110 29
Engineering services 17,600 12,733
Medical services - 284
Professional services 3,300 3,224
Recording fees 165 54
Advertising 110 287
Postage 990 1,083
Printing 110 15
Photographing 550 810
Training expenses 660 17
Entertainment 44 12
Noninsured losses 272 -
Bond coverage - 2
Public liability and property insurance - 156
Pension contribution 7,590 7,364
FICA taxes 429 140
Medical and life insurance 3,135 2,501
Dues and membership 220 145
Automobile allowance 495 73
License fees 28 11
General office supplies 550 462
Periodicals and books 165 373
Tools 110 115
Gas and oil 770 946
Automotive equipment materials 330 180
Duplicating and drafting supplies 880 546
Contribution to IRMA 1,614 1 ,141
107,052 91,159
-34-
Exhibit A-3
VILLAGE OF OAK BROOK, ILLINOIS
Corporate Fund
Schedule of Detailed Operating Expenditures
(and Comparison with Appropriations) (Cont'd)
Appropriations Actual
_ General Government (Cont'd):
Village Hall:
Salaries and wages $ 18,370 $ 11,515
Telephone and telegraph 407 464
Building maintenance services 3,960 878
Other equipment maintenance services 4,180 7,586
Tree service 1,100 419
Electric light and power 18,700 23,245
Cleaning and laundry services 17,600 14,789
Hospital insurance 1,322 1,089
Noninsured losses 27 -
Contribution to IRMA 4,439 4,621
Medical and hospital service - 167
Other contractual services - 693
Rental of equipment 4,510 4,464
Sanitation supplies 770 814
Tools 275 345
Payment of installment contract 267,872 243,520
Other commodities 165 298
Fire and extended coverage insurance - 41
Public liability and property insurance - 682
Building maintenance materials 1,320 2,241
Pension contribution 2,384 1,462
Other equipment maintenance materials 1,210 3,507
Chemicals and lab supplies 2,750 1,629
Maintenance--other than buildings 13,530 13,218
Office supplies 33 52
364 ,924 337 ,739
TOTAL GENERAL GOVERNMENT 789,246 798,353
Public Safety:
Police Service:
Salaries and wages 896,958 821,879
Court time 16,500 17,564
Education incentive pay 19,800 18,000
Telephone and telegraph 7,370 7,352
Postage 1,760 2,218
-35-
Exhibit A-3
VILLAGE OF OAK BROOK, ILLINOIS
Corporate Fund
Schedule of Detailed Operating Expenditures
(and Comparison with Appropriations) (Cont'd)
Appropriations Actual
_ Public Safety (Con t'd):
Police Service (Cont'd) :
Improvements other than
building maintenance $ - $ 635
-- Travel expenses 1,320 500
Automotive equipment maintenance 3,300 6,286
Office equipment maintenance 440 405
Other equipment maintenance 2,200 6,608
Medical services 2,750 840
Professional services 110 192
Advertising 165 149
Printing 2,200 2,073
Microfilming 330 -
Photographing 880 744
Laundry and cleaning service 55 -
Training expenses 7,700 2,498
Entertainment 330 167
Liability and property insurance - 2,356
Noninsured losses 3,300 3,223
Bond coverage - 104
Pension contribution 226,177 213, 114
FICA taxes 132 97
Medical and life insurance 47,617 47,363
Rental of equipment 9,900 9,466
Court cost and litigation expenses 275 -
Dues and membership 330 356
Clothing allowance 13,200 13,854
License fees 110 62
General office supplies 1,650 3,017
Periodicals and books 605 705
Chemicals and ammunition 1,375 221
Sanitation supplies 11 -
Food 1,100 975
Institutional supplies 110 9
Regulatory supplies 1,430 1,461
Medical and laboratory supplies 19100 121
Tools 165 66
Gas and oil 30,360 36,009
--
-36-
Exhibit A-3
VILLAGE OF OAK BROOK, ILLINOIS
Corporate Fund
Schedule of Detailed Operating Expenditures
(and Comparison with Appropriations) (Cont'd)
Appropriations Actual
Public Safety (Cont'd) :
Police Service (Cont'd) :
Automotive equipment maintenance
materials $ 6,600 $ 9,713
Other equipment maintenance materials 3,355 4,480
Duplicating and drafting supplies 1,100 860
Street sign material 726 660
Other commodities 83 7
Disinfectant and exterminating 165 125
Other contractual services 28 -
Tuition reimbursement 110 24
Building maintenance materials 55 2
Contribution to IRMA 26,064 25 ,996
1,341,401 1,262,556
Fire Service:
_ Salaries and wages 749,914 721,578
Telephone and telegraph 3,262 3,714
Postage 275 312
Travel expenses 1,485 887
Building maintenance 4,400 418
Improvements other than building
maintenance 220 727
Automotive equipment maintenance 9,405 2,967
Office equipment maintenance 149 -
Other equipment maintenance 5,830 3,681
Medical services 4,125 1,305
Professional services 2,750 2,785
Advertising 55 112
Printing 385 267
Photographing 165 178
-- Laundry services 616 761
Training expenses 1,133 4, 119
Other contractual services 357 949
Fire insurance - 82
Liability and property insurance 1,045 2,771
Noninsured losses 5,201 151
-37-
Exhibit A-3
VILLAGE OF OAK BROOK, ILLINOIS
_ Corporate Fund
Schedule of Detailed Operating Expenditures
(and Comparison with Appropriations) (Cont'd)
_ Appropriations Actual
Public Safety (Cont'd)
Fire Service (Cont'd) :
Bond coverage $ - $ 17
Pension contribution 239,745 239,056
FICA taxes 1,679 1,579
Medical and life insurance 39,884 43,266
Rental of equipment 231 70
Dues and membership 137 193
Tuition reimbursement 12100 220
Clothing allowance 10,450 8,772
License fees 13 60
General office supplies 1,617 757
Periodicals and books 297 230
Agricultural supplies 1,705 1,114
Chemicals and ammunition 1,100 898
_ Sanitation supplies 842 316
Heating and power 5,060 8,587
Institutional supplies 858 1,195
Medical and laboratory supplies 28 -
Tools 2,777 2,277
Gas and oil 5,246 5,103
Building materials 4,180 1,097
Improvements other than building
materials 462 106
Automotive equipment maintenance
materials 11,134 7,201
Other equipment maintenance materials 1,372 3,425
Duplicating and drafting supplies 385 738
Other commodities 154 598
Reception entertainment 110 225
Disinfectant and exterminating 110 50
Food 714 1,022
_ Contribution to IRMA 25 ,741 19 ,796
13,147,903 1,095,732
_
-38-
Exhibit A-3
VILLAGE OF OAK BROOK, ILLINOIS
Corporate Fund
Schedule of Detailed Operating Expenditures
(and Comparison with Appropriations) (Cont'd)
Appropriations Actual
Public Safety (Cont'd) :
Emergency Medical Service:
Salaries and wages $ 26,043 $ 24,259
Travel expense 440 57
Service to maintain automobile
equipment 204 72
Service to maintain other equipment 550 274
Printing 165 174
Noninsured losses 760 -
Laundry and cleaning service 110 -
Liability and property insurance - 41
Pension contribution 8,228 8,119
Contribution to IRMA 807 567
Clothing allowance 495 229
Dues and membership 275 115
FICA taxes 110 34
Chemicals and ammunition - 15
General office supplies - 38
Periodicals and books 110 73
Gas and oil 891 1,133
Tools - 13
Automotive equipment and materials 589 420
Drugs and medical supplies 770 388
Material to maintain other equipment 220 178
Training expense 1,210 1 ,406
41,977 37,605
Bureau of Inspection:
Salaries and wages 114,628 104,814
Telephone and telegraph 1,458 1,664
Postage 242 301
Office equipment maintenance 116 283
Travel - 14
Printing 1,100 1,222
Training - 495
Photographing and blueprinting 110 174
Other contractual services 12,683 7,524
Noninsured losses 259 -
-39-
Exhibit A-3
VILLAGE OF OAK BROOK, ILLINOIS
Corporate Fund
Schedule of Detailed Operating Expenditures
(and Comparison with Appropriations) (Cont'd)
Appropriations Actual
_ Public Safety (Cont'd):
Bureau of Inspection (Cont'd) :
Automotive equipment maintenance $ 291 $ 350
Bond coverage - 1
'— Other equipment maintenance - 84
Pension contribution 19,667 15,398
FICA taxes 418 261
Medical and life insurance 4,655 2,755
Dues and membership 55 50
Liability and property insurance - 170
License fees 6 8
General office supplies 1,237 1,022
Periodicals and books 330 300
Gas and oil 1,485 1,991
Automotive equipment and materials 891 1,611
Other equipment and materials - 28
Duplicating and drafting supplies 88 464
Licensing and regulatory supplies 248 -
Other commodities - 111
Automobile allowance 545 800
Contribution to IRMA 1,291 908
161,803 142 ,803
TOTAL PUBLIC SAFETY 2,693,084 2,538,696
Public Works:
Administration:
Salaries and wages 46,948 43,396
Telephone and telegraph 1,430 1,521
Postage 275 201
Travel expenses 220 12
Automotive equipment maintenance 83 35
Office equipment maintenance 132 91
Professional services 825 800
Advertising 220 409
Training expenses 220 -
Other contractual services - 462
-40-
Exhibit A-3
VILLAGE OF OAK BROOK, ILLINOIS
Corporate Fund
Schedule of Detailed Operating Expenditures
(and Comparison with Appropriations) (Cont'd)
Appropriations Actual
Public Works (Cont'd):
Administration (Cont'd) :
Entertainment $ 55 $ 19
Noninsured losses 2,159 -
Bond coverage - 6
Liability and property insurance - 1,078
Pension contribution 6,113 5,826
Medical and life insurance 1,485 1,878
Rental of equipment 27 -
Dues and memberships 116 105
—' Fire insurance - 41
General office supplies 550 672
Periodicals and books 110 137
Contribution to IRMA 9,038 6,373
Other equipment maintenance 1, 100 112
Tools 110 43
Gas and oil 506 756
_ Automotive equipment maintenance
supplies 220 211
License fees 126 93
Food 550 404
Photo and duplicating supplies 143 121
72,761 64,802
._ Street Maintenance:
Salaries and wages 119,368 101,760
Improvements other than buildings 36,214 27,535
_ Automobile equipment maintenance 4,180 5,302
Other equipment maintenance 2,640 2,230
Laundry and cleaning services 1,760 1,277
Tree service 2,640 1,241
Other contractual services 4,858 2,932
Pension contribution 14,854 12,293
FICA taxes 913 661
Medical and life insurance 6,075 6,154
-41-
Exhibit A-3
VILLAGE OF OAK BROOK, ILLINOIS
Corporate Fund
Schedule of Detailed Operating Expenditures
(and Comparison with Appropriations) (Cont'd)
Appropriations Actual
Public Works (Cont'd):
Street Maintenance (Cont'd) :
Rental of equipment $ 10,560 $ 990
Agricultural and horticultural supplies 3,520 1,938
Chemicals and ammunition 5,500 1,896
Tools 1,072 1,230
Gas and oil 6,655 8,393
Improvements other than building 2,750 2,818
Materials to maintain streets 15,400 11,881
Automotive equipment maintenance
materials 10,560 13,190
Other equipment maintenance materials 4,620 6,156
Medical and hospital service 495 668
Traffice control materials 550 494
Contribution to IRMA 3,793 14,960
Noninsured losses 28 1 ,153
259,005 227,152
Street Light and Traffic Control:
Salaries and wages 8,800 -
Improvements other than building
maintenance services 31,198 36,538
Electrical light and power 594 661
Tools 825 27
Contribution to IRMA 242 23,284
Other than building maintenance
materials 4,950 1,686
_ Traffic control materials 4,400 4,832
Chemicals and ammunition 165 -
Noninsured losses 27 2,001
Equipment rental 2,561 2,214
Other contractual service 6 ,615 -
60,377 71,243
Capital Improvements:
Engineering services 60,500 89,900
Other professional services 17 ,710 14,674
78,210 104,574
-42-
Exhibit A-3
VILLAGE OF OAK BROOK, ILLINOIS
Corporate Fund
Schedule of Detailed Operating Expenditures
_ (and Comparison with Appropriations) (Cont'd)
Appropriations Actual
Public Works (Con t'd):
Municipal Garage:
Salaries and wages $ 27,220 $ 28,794
Automotive equipment maintenance
_ (credit) 55 (320)
Agricultural supplies 165 -
Printing 220 361
Laundry and cleaning services 4,180 3,100
Training expense 220 -
Noninsured losses 28 -
Pension contribution 2,864 3,093
Medical and life insurance 440 1,408
General office supplies 220 203
Periodicals and books 83 7
Chemicals and ammunition 220 362
_ Sanitation supplies 660 824
Fuel 11,000 12,152
Medical and laboratory supplies 55 48
-' Tools 891 1,415
Gas and oil 330 685
Building maintenance material 2,200 2,079
Automotive equipment maintenance
material 110 4,554
Other equipment maintenance material 1,100 4,554
Service to maintain buildings 110100 -
Service to improvements other than
_ buildings 2,200 1,929
Service to maintain other equipment - 86
FICA tax 165 377
Contribution to IRMA 322 227
56,048 65,938
TOTAL PUBLIC WORKS 526,401 533,709
-43-
Exhibit A-3
VILLAGE OF OAK BROOK, ILLINOIS
Corporate Fund
Schedule of Detailed Operating Expenditures
(and Comparison with Appropriations) (Cont'd)
Appropriations Actual
Health and Welfare:
Pest control--contractual service $ 22,467 $ 14,558
Cardiopulmonary resuscitation:
Salaries and wages 1,870 1,860
Print-out tapes - 15
Contractual services 110 -
Other equipment material maintenance - 47
Other commodities 550 -
Duplicating and drafting supplies - 10
FICA taxes 115 -
"" Training expense - 105
TOTAL HEALTH AND WELFARE 25,112 16,595
Culture and Recreation:
Library:
Salaries and wages 45,468 41,650
Telephone and telegraph 1,326 1,373
Postage 303 201
Travel expense 44 -
Building maintenance service 55 256
Improvements other than building
maintenance - 390
-' Office equipment maintenance 222 234
Other equipment maintenance 6,050 2,016
Medical and hospital service 142 127
Laundry and cleaning services 3,795 2,840
Other contractual services - 28
Fire and extended coverage insurance - 41
Liability and property damage
insurance - 141
Noninsured losses 27 -
Bond coverage - 1
Pension contribution 4,846 4,703
FICA taxes 517 384
Medical and life insurance 2,620 2,761
Rental of equipment 1,375 1,191
Dues and memberships 55 60
-44-
Exhibit A-3
VILLAGE OF OAK BROOK, ILLINOIS
Corporate Fund
Schedule of Detailed Operating Expenditures
(and Comparison with Appropriations) (Cont' d)
Appropriations Actual
Culture and Recreation (Cont'd):
Library (Cont'd) :
General office supplies $ 242 $ 298
Periodicals and books 1,320 1,444
_ Printing 72 128
Fuel 1,870 2,216
Licensing and regulatory supplies 1,677 1,725
Maintenance materials other
than buildings - 453
Food 28 9
,- Minor equipment, tools and hardware 11 85
Building maintenance materials 22 85
Other commodities 50 -
Chemicals and ammunition 103 23
Training expense 44 72
Contribution to IRMA 1,048 738
TOTAL CULTURE AND RECREATION 73,332 65,673
TOTAL OPERATING EXPENDITURES $4,142 ,280 $3 ,978,899
See notes to financial statements
-45-
Exhibit A-4
VILLAGE OF OAK BROOK, ILLINOIS
Corporate Fund
Schedule of Capital Outlay
(and Comparison with Appropriations)
Year ended April 30, 1980
Appropriations Actual
General Government:
Finance and Accounting--office
furniture and fixtures $ 99 $ -
Board of Trustees--office furniture 342 -
Engineering:
Office furniture and fixtures 88 63
Office machinery and equipment 3,300 -
Other machinery and equipment 8,800 8,205
12,188 8,268
Village Hall:
Improvements other than buildings 27,500 20,000
Furniture, furnishings and interior 330 1 ,151
27,830 21 ,151
40,459 29,419
Public Safety:
Police Service:
Office furniture and fixtures 803 400
Automotive equipment 40,590 1,480
Office machinery and equipment 902 864
Other furniture and fixtures 1,889 1,615
Other machinery and equipment 10,686 9,209
54,870 13,568
Fire Service:
Office machinery and equipment 880 1,375
Buildings 33,000 65,712
Improvements other than buildings 6,050 980
Automotive equipment 6,600 -
Office furniture and fixtures 2,035 2,238
Other machinery and equipment 45 ,721 58,680
94,286 128,985
Emergency Medical Service--
Machinery and equipment 4,164 2,336
Bureau of Inspection:
Office furniture and equipment 2,530 80
Office equipment 990 1 ,675
3,520 1 ,755
156,840 146,644
-46-
Exhibit A-4
VILLAGE OF OAK BROOK, ILLINOIS
Corporate Fund
Schedule of Capital Outlay
(and Comparison with Appropriations) (Cont' d)
Appropriations Actual
Public Works:
-- Administration--automotive equipment $ 8,580 $ -
Street Maintenance:
Improvements other than buildings 13,200 -
Automotive equipment 113,300 78,410
Other machinery and equipment 22,220 14,147
148,720 92,557
Capital Improvements and Street Lights:
Street improvements 728,200 769,275
Improvements other than buildings 3,850 4,551
Drainage improvements 17,600 16,922
749 ,650 790,748
906,950 883,305
Culture and Recreation--Library:
_ Library books 20,350 21,036
Other furniture and fixtures 715 639
Improvements other than building 770 120
Nonprint media 110100 1,221
Office furniture and fixtures 165 -
23 ,100 23,016
-- TOTAL CAPITAL OUTLAY $1,127 ,349 $1 ,082,384
— See notes to financial statements
-47-
Exhibit B
VILLAGE OF OAK BROOK, ILLINOIS
Special Revenue Funds
Combined Balance Sheet
April 30, 1980
Federal
Revenue
Motor Fuel Sharing
Combined Tax Fund Trust Fund
ASSETS
Investments:
Savings account $ 86 $ 58 $ 28
Repurchase agreements 82,805 52,581 30,224
82,891 52,639 30,252
Allotments receivable 5,187 5,187 -
TOTAL ASSETS $88,078 $57,826 $30,252
LIABILITIES
Accounts payable $ 4,819 $ 4,819 $ -
Fund balance--unappropriated 83,259 53,007 30,252
TOTAL LIABILITIES AND FUND BALANCE $88,078 $57,826 $30,252
See notes to financial statements
-48-
Exhibit B-1
VILLAGE OF OAK BROOK, ILLINOIS
Special Revenue Funds
Combined Statement of Revenue and Expenditures and Fund Balance
Year ended April 30, 1980
Federal
Revenue
Motor Fuel Sharing
'- Tax Fund Trust Fund
Combined (Exhibit C) (Exhibit D)
Revenue:
Intergovernmental revenue $106,125 $64,220 $41,905
Interest on investments 9,482 6,001 3,481
TOTAL REVENUE 115,607 70,221 45,386
Expenditures:
Public works 64,721 642721 -
Culture and recreation 39,513 - 39,513
OPERATING EXPENDITURES 104,234 64,721 39,513
Capital outlay 182140 - 18,140
TOTAL EXPENDITURES 122,374 64,721 57,653
(EXCESS) DEFICIENCY OF
EXPENDITURES OVER REVENUE (6,767) 5,500 (12,267)
Fund balance at April 30, 1979 90,026 47,507 42,519
FUND BALANCE AT APRIL 30, 1980 859 $53,007 $30,252
See notes to financial statements
-49-
Exhibit C
VILLAGE OF OAK BROOK, ILLINOIS
Motor Fuel Tax Fund
Statement of Revenue and Expenditures (and Comparison
with Estimated Revenue and Appropriations) and Fund Balance
Year ended April 30, 1980
Estimated
Revenue and
Appropriations Actual
Revenue:
Allotments from State of Illinois $69,000 $64,220
Interest on investments 3,500 6,001
TOTAL REVENUE 72,500 70,221
Expenditures:
Chemicals 29,832 29,153
Street lighting 19,008 23,568
Construction payments to State of Illinois 19,800 12,000
TOTAL EXPENDITURES 68,640 64,721
EXCESS OF REVENUE
OVER EXPENDITURES $ 3p860 5,500
Fund balance at April 30, 1979 47,507
FUND BALANCE AT APRIL 30, 1980 $53,007
See notes to financial statements
-50-
Exhibit D
VILLAGE OF OAK BROOK, ILLINOIS
Federal Revenue Sharing Trust Fund
Statement of Revenue and Expenditures (and Comparison
with Estimated Revenue and Appropriations) and Fund Balance
Year ended April 30, 1980
Estimated
Revenue and
Appropriations Actual
Revenue:
Entitlements from Federal Government $ 32,800 $41,905
Interest on investments 1 ,400 3,481
TOTAL REVENUE 34,200 45,386
Expenditures:
Principal payment on note 40,167 36,416
Interest payment on note 3,209 3,017
Other 55 80
Capital outlay--transfer to Capital Projects Fund 19,778 18,140
TOTAL EXPENDITURES 63,209 57,653
(EXCESS) OF EXPENDITURES OVER REVENUE $(292009) (12,267)
Fund balance at April 30, 1979 42,519
FUND BALANCE AT APRIL 30, 1980 $30,252
See notes to financial statements
-51-
Exhibit E
VILLAGE OF OAK BROOK, ILLINOIS
Debt Service Fund
Balance Sheet
April 30, 1980
ASSETS
Investments:
Certificate of deposit $ 284,453
Repurchase agreements 3,204
287,657
Accrued interest receivable 4,693
Due from other funds 96,639
Taxes receivable, less allowance for
uncollectibles of $37,445 476,142
TOTAL ASSETS $ 865,131
LIABILITIES
Debt service payable from current tax levy
(including interest of $686,875) $1 ,086,875
Fund balance (deficit) (2211744)
TOTAL LIABILITIES AND FUND BALANCE-DEFICIT $ 865 ,131
See notes to financial statements
-52-
Exhibit F
VILLAGE OF OAK BROOK, ILLINOIS
Capital Projects Funds
Combined Balance Sheet
April 30, 1980
Sports Core
Purchase
_ Agreement Bike
and Golf Pathway
Combined Course System
ASSETS
Cash $ 2 $ 2 $ -
Investments:
Certificates of deposit 3,604,970 3,604,970 -
Repurchase agreements 111 ,911 111 ,911 -
3,716,881 3,716,881 -
-' Accrued interest receivable 226,537 226,537 -
TOTAL ASSETS $3,943,420 $3,943,420 $ -
LIABILITIES
Contracts payable $ 35,353 $ 35,353 $ -
Accrued expenses 125,123 125,123 -
Accrued interest payable 52,834 52,834 -
Purchase agreement payable 3,375,000 3,375,000 -
Due to other funds 96,639 96,639 -
Fund balance--unappropriated 258,471 258,471 -
TOTAL LIABILITIES AND FUND BALANCE $3,943,420 $3,943,420 $ -
See notes to financial statements
-54-
Exhibit F-1
VILLAGE OF OAK BROOK, ILLINOIS
Capital .Projects Funds
Combined Statement of Revenue and Expenditures
and Fund Balance
Year ended April 30, 1980
Sports Core
_ Purchase
Agreement Bike
and Golf Pathway
Combined Course System
Revenue:
Transfer from Federal Revenue
— Sharing Trust Fund $ 18,140 $ - $18, 140
Interest on investments 490,727 490,727
Personal property tax reimbursement 13,149 13,149 -
TOTAL REVENUE 522,016 503,876 18,140
Expenditures:
Bike pathway system construction 18, 140 - 18, 140
Golf course construction 846,665 846,665 -
Interest on purchase agreement 189,810 189,810 -
Service and maintenance 55,491 553,491 -
Administration:
Regular salaries 7,473 73,473 -
Fiscal agent services 614 614 -
Pension contribution 995 995 -
Advertising 83 83 -
Other professional services 15,822 15,822 -
_ Other contractual services 375 375 -
Medical insurance 896 896 -
Refund of charter membership fee 200 200 -
TOTAL EXPENDITURES 1,136,564 13,118,424 18,140
EXCESS OF EXPENDITURES OVER REVENUE 614,548 614,548 -
Deduct equity transfer to Sports Core Fund (33,885) (33,885) -
Fund balance at April 30, 1979 906,904 906,904 -
FUND BALANCE AT APRIL 30, 1980 $ 258,471 $ 258,471
See notes to financial statements
-55-
Exhibit G
VILLAGE OF OAK BROOK, ILLINOIS
Proprietary Fund Type--Enterprise Funds
Combined Balance Sheet
- April 30, 1980
Waterworks Sports
System Core
Combined Fund Fund
ASSETS
Cash $ 460 $ 9 $ 451
Investments:
Savings accounts 56,831 56,831 -
Certificates of deposit 1,399,061 1,399,061 -
Repurchase agreements 99,608 80,872 18,736
1,555,500 1,536,764 18,736
Receivables:
Customers:
- Billed water sales 42,812 42,812
Estimated unbilled water sales 118,351 118,351
Accrued interest 11,539 11,539
_ Other 229171 21 ,760 411
194,873 194,462 411
TOTAL CURRENT ASSETS 1,750,833 1,731,235 19,598
Plant and equipment, at cost 18,039,602 7,683,581 10,356,021
- Accumulated depreciation and
amortization (deduction) (949,712) (834,002) (115,710)
Unamortized bond discount 73,762 73,762
TOTAL ASSETS $18,914,485 $8,654,576 $10,259,909
LIABILITIES
Accounts payable $ 134,354 $ 115,538 $ 18,816
Accrued payroll 6,756 3,444 3,312
Deposits 7,204 824 6,380
Due to other funds 740 740
Contract payable 10,000 10,000
Current portion of bonds payable 250,000 250,000
TOTAL CURRENT LIABILITIES 409,054 380,546 28,508
Bonds payable:
Revenue bonds of 1973 due serially
- from May 1, 1981 to May 1, 1996,
interest at 4.00% to 6.00% 2,750,000 2,750,000
Revenue bonds of 1976 due serially
_ from May 1, 1981 to May 1, 1992,
interest at 4.40% to 5.75% 2,525,000 2,525,000
5,275,000 5,275,000
Fund equity:
Contributed capital 10,279,655 10,279,655
Retained earnings (deficit) 2,950,776 2,999,030 (48,254)
TOTAL FUND EQUITY 13,230,431 2,999,030 102,231,401
TOTAL LIABILITIES AND FUND EQUITY $18,914,485 $8,654,576 $10,259,909
_ See notes to financial statements
-56-
Exhibit G-1
VILLAGE OF OAK BROOK, ILLINOIS
Waterworks System Fund
Statement of Revenue and Expenses (and Comparison
with Estimated Revenue and Appropriations)
Year ended April 30, 1980
Estimated
_ Revenue and
Appropriations Actual
Operating revenue:
Sale of water $1,090,000 $ 985,117
Fire line water charges 127,120 100,477
Meter installations 21,300 15,640
Water connection charges 341,600 220,275
Special service charges 92200 8,685
Other charges and penalties 10,000 38,657
1,599,220 1,368,851
Operating expenses:
Source of supply 56,256 42,094
Power and pumping 201,880 179,735
Purification 16,542 14,861
Transmission and distribution 943,765 1022656
Reimbursement to Corporate Fund for services 38,500 352000
407,943 374,346
NET OPERATING INCOME BEFORE DEPRECIATION 12191,277 994,505
Provision for depreciation - 2102741
NET OPERATING INCOME 1,191,277 783,764
Other income (expense):
Operating transfer to Corporate Fund - (105,000)
Advertising - (42)
Bond interest expense (331,017) (300,925)
Interest on investments 942000 1571,445
Amortization of bond discount - (5,788)
Fiscal agents' fees (440) (594)
Construction reimbursements 382169 31,418
(1992288) (223,486)
NET INCOME $ 9912989 $ 560,278
See notes to financial statements
-57-
Exhibit G-2
VILLAGE OF OAK BROOK, ILLINOIS
Sports Core Fund
Statement of Revenue and Expenses (and Comparison
with Estimated Revenue and Appropriations)
Year ended April 30, 1980
Estimated Revenue
and Appropriation Actual
Operating revenue:
Golf course $ 17,000 $ 31,675
Bath and tennis 185,828 160,097
Open field 63,666 49,209
Food and service charge 110,143 107,739
Beverage and service charge 41,400 49,184
Sales tax - 7,545
Interest on investments 1,500 2,106
Miscellaneous - 3,373
419,537 410,928
Operating expenses:
Golf course 17,650 16,378
Bath and tennis 156,981 147,203
Open field 74,096 53,640
Food 113,625 107,639
Beverage 23,307 28, 168
Grill 9,625 10,239
General and administration 36,739 38,599
432,013- -401 ,866
NET OPERATING INCOME (LOSS)
BEFORE 15EPRECIATION (12,486) 9,062
Provision for depreciation - 47 ,525
NET OPERATING (LOSS) $(12 ,486) (3$ 8,463)
See notes to financial statements
-58-
Exhibit G-3
VILLAGE OF OAK BROOK, ILLINOIS
Proprietary Fund Type--Enterprise Fund
Combined Statement of Changes in Retained Earnings
Year ended April 30, 1980
Waterworks Sports
System Core
Combined Fund Fund
Balance (deficit) at May 1, 1979 $2,395,076 $2,438,752 $(43,676)
Add (deduct) :
Net income (loss) for the year 521,815 560,278 (38,463)
Transfer from Capital Projects Fund 33,885 33 ,885
RETAINED EARNINGS (DEFICIT)
AT APRIL 30, 1980 $2 ,950,776 $229992030 $(48,254)
See notes to financial statements
-59-
Exhibit G-4
VILLAGE OF OAK BROOK, ILLINOIS
Proprietary Fund Type--Enterprise Fund
Combined Statement of Changes in Financial Position
Year ended April 30, 1980
Waterworks Sports
System Core
Combined Fund Fund
Sources of funds:
Operations:
Net income (loss) $ 521,815 $560,278 $(38,463)
Add provisions for depreciation and
_ amortization of bond discount
which did not require funds 264,054 216,529 47,525
TOTAL FROM OPERATIONS 785,869 776,807 9,062
Contribution from municipality 846,665 846,665
Transfer from Capital Projects Fund 33 ,885 33 ,885
TOTAL SOURCES OF FUNDS 1,666,419 776,807 889,612
Application of funds:
Capital outlay 1,021,437 166,590 854,847
Reduction in bonds payable 250,000 250,000
TOTAL APPLICATION OF FUNDS 1 ,271 ,437 416,590 854,847
INCREASE IN WORKING CAPITAL $ 394,982 $360,217 $ 34,765
Increase (decrease) in various elements
of working capital:
Cash $ 78 $ - (56) $ 134
Investments 467,872 450,040 17,832
Receivables (123,631) (123,832) 201
_ Inventory of equipment (38,054) (32,103) (5,951)
Accounts payable 90,263 62,237 28,026
Accrued payroll (1,146) (599) (547)
Deposits (5,230) (300) (4,930)
Due to other funds (502) (502)
Contract payable 30,332 30,332
Current portion of bonds payable (25 ,000) (25 ,000)
INCREASE IN WORKING CAPITAL $ 394,982 $360,217 34,765
See notes to financial statements
-60-
Exhibit G-5
VILLAGE OF OAK BROOK, ILLINOIS
Waterworks System Fund
Schedule of Operating Expenses and Summary of Capital Outlay
(and Comparison with Appropriations)
Year ended April 30, 1980
Appropriations Actual
Operating expenses:
Source of supply:
Purchased water--Hinsdale, Illinois $ - $ 4,546
Other contractual services 726 694
Other equipment maintenance material 880 872
Salaries and wages 6,611 5,968
FICA taxes and workmen's compensation
insurance 144 19
Building maintenance 550 225
Automotive equipment maintenance material 440 565
Other improvement maintenance 35,640 19,782
Telephone and telegraph 2,947 5,054
Pension contribution 560 591
Medical and life insurance 267 271
Agricultural supplies 3,300 -
Sanitation supplies 275 366
Tools 330 536
Gas and oil 550 446
Building maintenance materials 825 149
Rental of land 2,211 2,010
TOTAL SOURCE OF SUPPLY 56,256 42,094
Power and pumping:
Salaries and wages 10,457 7,911
Equipment maintenance (credit) 41,800 (5,861)
Electric light and power 145,200 174,792
-- Pension contribution 1,365 887
Medical and life insurance 418 406
._ Sanitation supplies 55 -
Tools 110 80
Gas and oil 825 749
Equipment maintenance materials 1 ,650 771
TOTAL POWER AND PUMPING 201,880 179,735
Purification:
Salaries and wages 4,301 4,324
Postage 248 19
Equipment maintenance 1, 100 231
Pension contribution 561 591
Medical and life insurance 267 271
-61-
Exhibit G-5
VILLAGE OF OAK BROOK, ILLINOIS
Waterworks System Fund
Schedule of Operating Expenses and Summary of Capital Outlay
(and Comparison with Appropriations) (Cont'd)
Appropriations Actual
Operating expenses (Cont'd):
Purification (Cont'd):
Chemicals and ammunition $ 7,150 $ 6,900
Drugs and laboratory supplies 330 151
Tools 55 51
Equipment maintenance materials 1,650 1,377
Other contractual services 880 946
TOTAL PURIFICATION 16,542 14,861
Transmission and distribution:
Salaries and wages 59,774 56,907
Other improvement maintenance 99900 12,427
Automobile maintenance 220 674
Equipment maintenance 220 524
Laundry services 870 785
Training expenses 110 -
Pension contribution 7,181 6,884
Medical and life insurance 4,345 4,215
Dues and membership fees 55 -
General office supplies 110 165
Chemicals 440 23
Tools 1,100 1,446
Gas and oil 1,430 3, 190
Other improvement maintenance material 43,400 8,821
Automotive maintenance materials 550 635
Equipment maintenance materials 550 366
Liability and property insurance - 463
Other contractual services 550 638
Noninsured losses 242 229
FICA taxes 288 304
-62-
Exhibit G-5
VILLAGE OF OAK BROOK, ILLINOIS
Waterworks System Fund
Schedule of Operating Expenses and Summary of Capital Outlay
(and Comparison with Appropriations) (Cont'd)
Appropriations Actual
Operating expenses (Cont'd):
Transmission and distribution (Cont'd):
License fees $ 35 $ 27
Maps, magazines, periodicals and books 55 -
�" Contribution to IRMA 2,340 3,423
Service connections - 510
TOTAL TRANSMISSION AND DISTRIBUTION 94,765 102,656
Reimbursement to Corporate Fund for services 38,500 35,000
TOTAL OPERATING EXPENSES $407,943 $374,346
Summary of capital outlay:
Other improvements--water meters $ 27,500 $ 32,835
— Hydrants 4,400 3,695
Engineering and other contractual services 2,200 -
Automotive equipment 10,450 7,012
Water mains 173,800 118,907
Other machinery and equipment - 4,141
TOTAL CAPITAL OUTLAY $218,350 $166,590
See notes to financial statements
-63-
Exhibit G-6
VILLAGE OF OAK BROOK, ILLINOIS
Sports Core Fund
Schedule of Operating Expenses and
Summary of Capital Outlay (and
'- Comparison with Appropriations) -
Year ended April 30, 1980
Appropriations Actual
Golf course:
Personal services $ 9,878 $ 5,846
'- Contractual services 1,920 1,765
Fixed charges 2,420 3,877
Commodities 3,432 4,890
17,650 16,378
Bath and tennis:
Personal services 61,325 573,754
Contractual services 63,234 56,848
Fixed charges 17,523 17,248
Commodities 14,899 15,353
156,981 1472203
Open field:
Personal services - 177
Contractual services 52,305 37,527
- Fixed charges 1,348 786
Commodities 20,443 15,150
74,096 53,640
Food operations:
Contractual services 106,183 99,681
Fixed charges 4,884 3,447
Commodities 2,558 4,511
113,625 107,639
Beverage operations:
Personal services 6,499 7,411
Contractual services 1,815 64
Fixed charges 2,343 3,180
Commodities 12,650 17,513
- 23,307 28, 168
-64-
i
Exhibit G-7
IVILLAGE OF OAK BROOK, ILLINOIS
Waterworks System Fund
( Schedule of Property, Plant and Equipment and Accumulated
Depreciation and Amortization
iYear ended April 30, 1980
i Rate of
Depreciation Accumulated Depreciation
Property, Plant and Equipment or and Amortization
i Balance Additions and Balance Amortization Balance Additions and Balance
Apr.30-1979 Transfers Apr.30-1980 Years Apr.30-1979 Transfers Apr.30-1980
Waterworks property, plant and equipment:
Land and land rights $ 2,819 $ 2,819 - $ - $ - $ -
Service of supply plant--wells and springs 314,753 314,753 40 419871 70869 49,740
Structure and improvements 68,232 68,232 40 10,019 1,706 11,725
I Electrical pumping equipment 118,745 1183,745 40 17,937 2,969 20,906
Total water treatment equipment 5,325 5,325 10 3,195 532 3,727
Distribution, reservoirs, mains and standpipes 6,193,781 $496,779 6,690,560 40 422,811 167,264 590,075
Meters and meter installation 211,768 32,835 244,603 15 68,664 16,315 84,979
Hydrants 120,562 3,695 1245,257 40 17,713 3,106 20,819
I Miscellaneous tools and equipment:
f Office furniture and equipment 3,449 3,449 10 2,053 345 2098
Transportation equipment 223,327 73,012 29,339 6 8,760 431891 13,651
Tools, shop and garage equipment 2,852 2,852 5 2,852 _ 2,852
Laboratory equipment 1,070 1,070 5 1,070 1,070
Miscellaneous equipment 29,797 1,250 31,047 5 141,913 5,744 20,657
1 Intangible plant--organization 11,403 11,403 5 11,403 - 11,403
1 Construction in progress 410,108 (374,981) 35,127 - - - -
i $7,516,991 $166,590 $7,6832581 623_ 261 $21 83�5�4�00?
(
i
I
i
-66-
Exhibit G-6
VILLAGE OF OAK BROOK, ILLINOIS
_ Sports Core Fund
Schedule of Operating Expenses and
Summary of Capital Outlay (and
Comparison with Appropriations) (Cont'd)
Appropriations Actual
Grill:
Contractual services $ 8,635 $ 8,995
Fixed charges 440 125
Commodities 550 1 ,119
9,625 10,239
-- General and administration:
Personal services 245,750 243,422
Contractual services 4,378 4,725
_ Fixed charges 6,945 8,114
Commodities 666 1,338
36,739 38,599
$432,023 $401 ,866
Capital outlay—bath and tennis improvements $ 27,775 $ 8,181
See notes to financial statements
-65-
i
Exhibit G-8
` VILLAGE OF OAK BROOK, ILLINOIS
I Sports Core Fund
Schedule of Property, Plant and Equipment and Accumulated Depreciation
IYear ended April 30, 1980
I Property, Plant and Equipment Accumulated Depreciation
Additions Rate of Additions
Balance and Balance Depreciation Balance and Balance
IApr.30-1979 Transfers Apr.30-1980 Years Apr.30-1979 Transfers Apr.30-1980
Land and land rights $8,244,900 $ 8,244,900 $ - $ -
Golf course land improvements 310,000 310,000 - -
Other land improvements 191,000 191,000 20 14,325 $ 9,550 23,875
Clubhouse 325,000 $ 2,646 327,646 40 12,188 8,158 20,346
Pools 92,000 92,000 20 6,900 4,600 11,500
ITennis courts 61,702 61,702 15 5,816 4,350 10,166
Other improvements 80,149 80,149 10 11,907 8,015 19,922
Clubhouse equipment 61,491 5,536 675,027 5 17,049 12,852 29,901
�. Construction in progress 134,932 846,665 981,597 - -
$9,501 ,174 85543847 $10,356202168 185 45525 JU 5 L7 10
I
I
f
1
f
I
I -67-
Exhibit H
VILLAGE OF OAK BROOK, ILLINOIS
Trust and Agency Funds
Combined Balance Sheet
April 30, 1980
Police Firemen' s
Pension Pension
Combined Fund Fund
ASSETS
Cash $ 113 $ 54 $ 59
Investments:
Savings accounts 98,897 18,978 79,919
Certificates of deposit 1,565,000 460,000 1,10 5,000
Government and agency securities 1 ,396,552 1 ,060,053 336,499
3,060,449 1,539,031 1 ,521,418
Accrued interest receivable 46,824 31,678 15,146
Due from other funds 72,832 32,831 40,001
Amounts to be provided from future
tax levies and other sources to
fund actuarial deficiency for
prior service costs 956,150 597 ,904 358,246
$4,136,368 $2 ,201 ,498 $1 ,934,870
RESERVES
Funded obligations:
Statutory $ 326,000 $ 320,000 $ 6,000
Excess 2,854,218 1 ,283,594 1 ,570,624
3, 180,218 1,603,594 1,576,624
Unfunded actuarial deficiency for
prior service costs 956,150 597 ,904 358,246
TOTAL RESERVES $4,136,368 $2 ,201 ,498 $1 ,934,870
See notes to financial statements
-68-
Exhibit H-1
VILLAGE OF OAK BROOK, ILLINOIS
"- Trust and Agency Funds
Combined Statement of Revenue and Expenditures
and Reserve for Funded Obligations
Year ended April 30, 1980
Police Firemen' s
_ Pension Pension
Combined Fund Fund
Total (Exhibit I) (Exhibit J)
Revenue:
Employees' contributions $ 111,548 $ 57,891 $ 53,657
Village contributions 447,630 197,269 250,361
Interest on investments 222,171 115,613 106,558
Other 135 100 35
TOTAL REVENUE 781,484 370,873 410,611
Expenditures:
Pension benefit expense 51,779 27,907 23,872
Audit fee 1,010 505 505
— Miscellaneous 16,676 3,917 12 ,759
TOTAL EXPENDITURES 69 ,465 32,329 37 ,136
EXCESS OF REVENUE OVER EXPENDITURES 712,019 338,544 373,475
Reserve-funded obligations at
April 30, 1979 2,468,199 1 ,265,050 1 ,203,149
_ RESERVE-FUNDED OBLIGATIONS
AT APRIL 30, 1980 $3,180,218 $1 ,603,594 $1 ,576,624
See notes to financial statements
-69-
Exhibit I
VILLAGE OF OAK BROOK, ILLINOIS
Police Pension Fund
Statement of Revenue and Expenditures (and Comparison
with Budget) and Reserve for Funded Obligations
Year ended April 30, 1980
Budget Actual
Revenue:
Employees' contributions $ 56,552 $ 57,891
Village contributions 191,412 197,269
Interest on investments 103,000 115,613
Other 100 100
TOTAL REVENUE 351,064 370,873
Expenditures:
Pension benefit expense 27,907 27,907
Audit fee 525 505
Recording fees 25 -
Other services 50 156
Loss on sale of investment - 3,761
TOTAL EXPENDITURES 28,507 32,329
EXCESS OF REVENUE OVER EXPENDITURES $322,5577 338,544
Reserve-funded obligation at April 30, 1979 1 ,265,050
RESERVE-FUNDED OBLIGATION AT APRIL 30, 1980 $1 ,603,594
See notes to financial statements
-70-
Exhibit J
VILLAGE OF OAK BROOK, ILLINOIS
Firemen's Pension Fund
Statement of Revenue and Expenditures (and Comparison
with Budget) and Reserve for Funded Obligations
Year ended April 30, 1980
Budget Actual
Revenue:
Employees' contributions $ 51,781 $ 53,657
Village contributions 232,055 250,361
Other contributions - 35
Interest on investments 93,100 106,558
TOTAL REVENUE 376,936 410,611
Expenditures:
Pension benefit expense 20,645 23,872
Pension refunds - 12,243
Audit fee 525 505
Recording fees 25 -
_ Other commodities 50 516
Seminar and meeting 20 -
Medical and hospital service 150 -
TOTAL EXPENDITURES 21 ,415 37,136
EXCESS OF REVENUE OVER EXPENDITURES35$ 5,521 373,475
Reserve-funded obligation at April 30, 1979 1 ,203,149
RESERVE-FUNDED OBLIGATION AT APRIL 30, 1980 $1 ,576,624
See notes to financial statements
-71-
Exhibit K
VILLAGE OF OAK BROOK, ILLINOIS
Statement of General Fixed Assets
April 30, 1980
General fixed assets:
Land $ 188,741
Buildings 4,591,892
Furniture and fixtures 230,808
Roadway improvements 1,773,689
Automotive equipment 540,681
Other equipment 719,590
Library books 116,353
$8,161 ,754
Investment in general fixed assets:
From current revenues $5,714,821
From gifts 518,738
From proceeds of indebtedness 1,582,783
From motor fuel tax funds 213,661
From federal revenue sharing funds 131 ,751
$8,161 ,754
See notes to financial statements
-72-
Exhibit L
VILLAGE OF OAK BROOK, ILLINOIS
Statement of General Long-Term Debt
April 30, 1980
Amount to be provided from future
_- tax levies and other sources $10,9422744
Deficit in Debt Service Fund $ 221,744
_ Payable from future revenue and
other sources:
Recreation bonds payable 10,000,000
Notes payable 721 ,000
$10,942,744
See notes to financial statements
-73-
Exhibit L-1
IVILLAGE OF OAK BROOK, ILLINOIS
Schedule of Debt Service to Maturity
IApril 30, 1980
Waterworks Revenue Bonds General Obligation
Series 1973 Series 1976 Recreation Bonds
IPrincipal Interest Principal Interest Principal Interest Total
Maturing as follows,
year ending April 30:
1981 $ 125,000 $ 142,600 $ 125,000 $ 146,825 $ 400,000 $ 464,450 $ 1,403,875
1982 125,000 135,100 150,000 140,450 450,000 444,850 1,445,400
1983 125,000 128,725 175,000 132,800 500,000 422,800 1,484,325
I 1984 125,000 122,225 200,000 123,875 500,000 401,300 1,472,400
1985 150,000 1151725 200,000 112,875 600,000 379,800 1,558,400
1986 150,000 108,075 200,000 101,875 600,000 354,000 1,513,950
I 1987 150,000 100,575 225,000 90,875 600,000 3283%200 1,494,650
1988 175,000 93,075 225,000 78,500 700,000 302,400 1,573,975
I 1989 175,000 84,325 250,000 66,125 700,000 270,200 1,545,650
1990 200,000 75,400 275,000 51,750 7001000 238,000 1,540,150
1991 200,000 65,200 300,000 35,938 800,000 205,800 1,606,938
I 1992 200,000 541,800 325,000 18,687 800,000 167,400 1,565,887
1993 225,000 443,400 850,000 129,000 1,248,400
1994 225,000 32,700 - - 900,000 88,200 1,245,900
I 1995 250,000 21,000 _ _ 900,000 44,100 1,215,100
1996 275,000 11,000 286,000
2,875,000 $1,334,925 $2,650,000 $1,100,575 $10,000,000 $4,240,500 $22,201,000
I
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-74-
VILLAGE OF OAK BROOK, ILLINOIS
Notes to Financial Statements
April 30, 1980
(1) Summary of Significant Accounting Policies
The financial statements are presented in accordance with generally
_ accepted accounting principles applicable to state and local governmental
units as contained in the audit guide published by the American Institute.
of Certified Public Accountants.
The basic principles have been promulgated by the National Council on
Governmental Accounting. These principles have evolved over the years
and received the general endorsement of governmental officials, the
general public and other persons interested in financial statements of
such units.
Funds
In government, the basic accounting and reporting entity is a "fund". A
fund is defined as an independent fiscal and accounting entity with a
self-balancing set of accounts recording cash and/or other resources
together with all related liabilities, obligations, reserves and equities
which are segregated for the purpose of carrying on specific activities
or attaining certain objectives in accordance with special regulations,
restrictions or limitations.
Basis of Accounting
The accrual basis of accounting is followed for Capital Projects, Enter-
prise and Trust and Agency Funds. The modified accrual basis of account—
ing is followed for the Corporate, Special Revenue and Debt Service
Funds. The modified accrual basis of accounting is defined as "the basis
of accounting under which expenditures other than accrued interest on
- general long-term debt are reported at the time liabilities are incurred
and revenues are recorded when received in cash except for material and/
or available revenues which should be accrued to reflect properly the
taxes levied and the revenues earned".
Basis of Budgeting
The estimated revenue and appropriations are prepared principally on a
cash basis which, for operations, approximates the basis of accounting
used by each fund. Appropriations lapse at the end of each fiscal year,
although commitments for expenditures made prior to each year-end are
honored if unperformed. Expenditures may not legally exceed appropria-
tions for each fund.
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VILLAGE OF OAK BROOK, ILLINOIS
Notes to Financial Statements (Cont'd)
(1) Summary of Significant Accounting Policies (Cont'd)
General Fixed Assets
The general fixed assets of the governmental unit, those fixed assets not
required to be accounted for in specific fund groups, i.e., Waterworks
System and Sports Core Funds, are accounted for in a separate self-
balancing group of accounts described as the general fixed asset account
group. General fixed assets are capitalized at historical cost. No
depreciation is required to be recorded on general fixed assets.
General Long-Term Debt
The general long-term liabilities except for the Waterworks System Fund
are not carried with the current liabilities of a f and but rather set up
in a separate self-balancing account group known as the general long-term
debt account group.
Other
Investments are stated at cost, which approximates market.
Inventories of equipment and supplies are stated at actual cost.
The Waterworks System and Sports Core Funds fixed assets are capitalized
at historic cost. Depreciation or amortization is provided on a straight-
line basis over the estimated useful life by category.
Vacation leave is computed and earned on a calendar year basis with no
accumulation of vacation leave permitted. Accordingly, vacation leave is
accounted for as disbursed and is included with salaries and wages.
Unemployment compensation insurance premiums are paid by the Village based
upon the actual claims paid.
(2) Waterworks System Fund
The ordinances authorizing the issuance of Waterworks Revenue Bonds Series
1973 and 1976 require that cash and investments be segregated in accounts
designated as (balances in the accounts at April 30, 1980 are shown in
parentheses):
(a) Operation and maintenance account ($43,677)
(b) Bond and interest account ($48,864)
(c) Bond reserve account ($411,719)
(d) Depreciation, improvement and extension account ($164,594)
(e) Surplus revenue account ($867,919)
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VILLAGE OF OAK BROOK, ILLINOIS
Notes to Financial Statements (Cont'd)
(2) Waterworks System Fund (Cont'd)
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 maintenance 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 out-
standing bonds at the discretion of the President and Board of Trustees,
the surplus may be transferred to the depreciation, improvement and exten-
sion 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 neces-
sary 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.
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VILLAGE OF OAK BROOK, ILLINOIS
Notes to Financial Statements (Cont'd)
(3) Police Pension Fund
(a) Funded Obligation
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, 1980, the
minimum reserve balance (statutory requirement) of $320,000 had been
provided and in addition, the Board had exceeded the minimum by $1,283,594
for a total funded obligation of $1,603,594.
(b) Actuarial Deficiency
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 insure the accumulation of such
actuarial reserve over a 40-year period ending in 2006. The total actuar-
ial requirements at April 30, 1979 (the date of the latest computation)
amounted to $2,201,498 including the actuarial reserve deficiency of
$936,098 for prior service costs as determined by the State Department of
Insurance. The actuarial reserve deficiency at April 30, 1980 has been
adjusted by the net transactions of the fund for the year ended April 30,
1980. However, the current normal costs and the resultant liability for
the year ended April 30, 1980 are not reflected as an increase in the
actuarial reserve deficiency because the date of the State Department of
Insurance determination was as of April 30, 1979.
(4) Firemen's Pension Fund
(a) Funded Obligation
According to the governing act, the Board of Trustees of the Firemen's
Pension Fund is required to establish and maintain a minimum reserve
balance of $1,000 for each 1,000 inhabitants. Under this provision the
minimum requirement is $6,000. At April 30, 1980 the Board had exceeded
this minimum by $1,570,624 for a total funded obligation of $1,576,624.
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VILLAGE OF OAK BROOK, ILLINOIS
Notes to Financial Statements (Cont'd)
(4) Firemen's Pension Fund (Cont'd)
(b) Actuarial Deficiency
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
State Department of Insurance over a 40-year period ending in 2007. At
April 30, 1979 (the date of the latest computation) the actuarial require-
ments of the fund amounted to $1,934,870 including an actuarial reserve
deficiency of $734,947 for prior service costs, as determined by the State
Department of Insurance. The actuarial reserve deficiency at April 30,
1980 has been adjusted by the net transactions of the fund for the year
ended April 30, 1980. However, the current normal costs and the resultant
liability for the year ended April 30, 1980 are not reflected as an
increase in the actuarial reserve deficiency because the date of the State
Department of Insurance determination was as of April 30, 1979.
(5) Illinois Municipal Retirement Fund
As the Village levies property taxes for debt service purposes only, no
separate fund accountability is maintained for Illinois Municipal Retire-
ment Fund purposes. Expenditures for this purpose are included in the
Corporate and Waterworks System Funds.
The Illinois Municipal Retirement Fund's actuary estimates that as of
December 31, 1979 the present value of total IMRF pension obligations to be
borne by the Village of Oak Brook was $508,749. The Village had accum-
ulated reserve assets to be used toward this obligation of $126,662 on the
same date. Therefore, the estimated present value of future contributions
to be made by the Village on behalf of present employees was $382,087.
This pension obligation includes, in addition to future normal cost of
$150,125, the amount of unfunded prior service cost, computed to be
$231,962.
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 cost, term cost of death and disability
benefits and the cost of administration of the fund.
-79-
VILLAGE OF OAK BROOK, ILLINOIS
Notes to Financial Statements (Cont'd)
(6) General Long-Term Debt Account Group
(a) Loan on Village Hall
The Village executed a 5 1/2% loan in the amount of $1,412,134 to finance
the construction of the Village Hall. The unpaid balance of the indebted-
ness at April 30, 1980 was $689,110. The loan is to be paid in 84 consec-
utive monthly installments of principal and interest in the amount of
$20,293 each. The installments commenced on June 1, 1976, with the final
installment due on May 1, 1983. The loan is a general obligation of the
Village.
(b) Loan on Library
In the 1976 fiscal year, the Village executed an agreement with a bank
providing for a line of credit of $170,649 to be used to finance the Oak
Brook Library renovation. The unpaid balance of the indebtedness at
April 30, 1980 was $31,890. Payments of principal and interest are to be
made in 60 consecutive installments with the final installment to be made
on January 1, 1981.
(c) General Obligation Recreation Bonds - Sports Core
A special election on June 21, 1977 authorized and approved the issuance of
-- $10,270,000 General Obligation Recreation Bonds - Sports Core. The unpaid
balance of the indebtedness at April 30, 1980 was $10,000,000. The bonds
were sold and delivered as of September 1 , 1977 for $10,270,408 and are due
serially December 1, 1979 to December 1, 1994 at rates from 4.30% to 4.90%.
(7) worts Core Purchase Agreement
On May 31, 1977, the Board of Trustees passed ordinances authorizing the
making and execution of an agreement between the Village and the Butler
-- Company for the Village to purchase approximately 269 acres of the property
commonly referred to as the Butler International Sports Core, Oak Brook,
Illinois, together with attendant documents. A special election on
June 21, 1977 approved the purchase.
-80-
VILLAGE OF OAK BROOK, ILLINOIS
Notes to Financial Statements (Cont'd)
(7) Sports Core Purchase Agreement (Cont'd)
The Sports Core Purchase Agreement, together with attendant documents, was
entered as of November 1, 1977 to be paid as follows:
Interest at
4.69634%
Beginning
Total Principal Jan.2-1978
November 1, 1977 $ 820,000 $ 820,000 $ -
_ January 2, 1978 3,225,000 3,225,000 -
January 2, 1979 1,252,428 1,000,000 252,428
January 2, 1980 1,205,465 1,000,000 205,465
January 2, 1981 3,533,502 3,375,000 158,502
$10,036,395 $9,420,000 $616,395
The principal amount due to the Butler Company at April 30, 1980 was
$3,375,000. In the event of the death of the owner of the Butler Company,
the entire amount of outstanding principal becomes due.
(8) Contingencies
Effective January 1, 1979, the Village entered into a contractual agree-
ment with 14 other municipalities to form the Intergovernment Risk Manage-
ment 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
Treasurer's Bond. As a self-insurance administrator, IRMA enables
risk-sharing with other municipalities which in turn share their risks
with the Village. At December 31, 1979 IRMA has assets of $2,705,780 and
reserves for losses of $435,847; 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, 1980, manage-
ment knows of no claim, asserted or unasserted, which if asserted and paid
would have a materially adverse effect on the financial position of the
various funds of the Village of Oak Brook at April 30, 1980.
-81-
ar
accountants' Report
Financial Statements=
c
C"U
VILLAGE OF OAK BROOK
1200 OAK BROOK ROAD
-- OAK BROOK, ILLINOIS
July, 1980 654-2220
President and Board of Trustees
Village of Oak Brook
Oak Brook, Illinois 60521
Gentlemen and Mrs. Reynolds:
We are pleased to present the Annual Financial Report of the Village
of Oak Brook, Illinois for the fiscal year ending April 30, 1980.
ACCOUNTING SYSTEM AND REPORTS
The Village's accounting records for general governmental operations are
maintained on the modified accrual basis with material revenues being recorded
when earned and material expenditures being recorded when incurred. Accounting
records for the Village's enterprise funds - Water Fund and the Sports Core
Operating Fund - are maintained on the full accrual basis as it is necessary
to measure profit or loss from operations. Budgetary control over all funds
is maintained by the use of an encumbrance system.
Recently the National Council on Governmental Accounting released two
statements on governmental accounting which require compliance for fiscal
years ending after June 30, 1980. Both the National Council and the Municipal
Finance Officer's Association of the United States and Canada encourage early
compliance. Included in the changes is the requirement that combined or
generic statements by fund type and general purpose financial statements be
included in the Annual Report. We have complied with the above requirements
in this Annual Report.
In April, 1980 the Municipal Finance Officer's Association of the United
States and Canada (MFOA) awarded a Certificate of Conformance in Financial
Reporting to the Village of Oak Brook, Illinois for its comprehensive annual
financial report for the fiscal year ended April 30, 1979.
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 industry standards. Such reports
-- must satisfy both generally accepted accounting principles and applicable legal
requirements.
A Certificate of Conformance is valid for a period of three years subject
to two Annual Reviews. We believe our current report continues to conform to
Certificate of Conformance Program requirements, and we are submitting it to
MFOA for the required Annual Review.
-7-
GENERAL COMMENTS
Presented in this Annual Report are the financial statements required
for each fund. Furthermore, a group of self-balancing accounts known as the
-- General Fixed Asset Group of Accounts and the Long Term Debt Group of Accounts
have been included in the Annual Report.
The Fixed Asset Group of Accounts reflects all fixed assets acquired by
funds except the enterprise and trust funds. As of April 30, 1980 the
general fixed assets of the Village amounted to $8,161,754.00. This amount
represents the original cost of the assets, and is considerably less than
their present value. Schedules of property, plant and equipment for the two
enterprise funds - Water and Sports Core - are also included.
The Long Term Debt Accounts include the General Obligation Bonds issued
in 1977 for the purchase of the Sports Core and the debts for the Village
Hall and Library.
The last section of the Annual Report includes statistical data and
schedules which contribute to the value of the report as an official reference
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.
GENERAL GOVERNMENTAL FUNCTIONS
Revenue for general governmental functions totaled $6,281,369, an in-
crease of $1,777,069, or 39.4%. Intergovernmental revenue is the major revenue
source for the Village, producing 79.4% of current year general governmental
_ revenue, as compared with 79.0% last year. Intergovernmental revenue increased
40.1% compared to last year. The largest source of income, sales tax, totaled
$4,697,077 an increase of $1,410,247, or 42.9% over last year.
The amount of revenue from various sources and the increase or decrease
over last year are shown in the following tabulation:
-8-
Increase
Percent (Decrease)
_. Revenue Source Amount of Total over 1979
Intergovernmental Revenue $4,987,942 79.4% $1,427,555
Licenses and Permits 192,044 3.1% (23,191)
Charges for Service 148,497 2.4%- (92,064)
Fines and Penalties 88,678 1.4% (14,690)
Interest on Investments 346,383 5.5% 134,280
Miscellaneous 377,825 6.0% 345,179
Transfer from Waterworks
System Fund 140,000 2.2% -0-
$6,281,369 100.0% $1,777,069
The Village has never levied taxes for corporate purposes. However, the
assessed valuation of real property of the Village was $213,642,535, an il,-
._ crease of $28,810,375, or 15.6% over the prior year.
Expenditures for general governmental purposes for the year ended April
30, 1980 totaled $5,114,004, an increase of $994,260, or 24.1% over last
T year. Increases (decreases) in levels of expenditures for major functions
of the Village over the preceding year are shown in the following tabulations:
Increase
Percent (Decrease)
Function Amount of Total over 1979
General Government $ 853,645 16.7% $ 17,375
Public Safety 2,685,340 52.5% 291,438
Public Works 1,469,735 28.8% 726,097
Health and Welfare 16,595 .3% 45
Culture and Recreation 88,689 1.7% (40,695)
$5,114,004 100.0% $ 994,260
Included in the $5,114,004 were capital outlay expenditures amounting to
$1,082,384.
The fund balance of the general corporate fund is $3,810,464 at April
-- 30, 1980, representing an increase of $1,104,479, or 40.8%
DEBT ADMINISTRATION
The ratio of net bonded debt to assessed valuation and the amount of
bonded debt per capita are useful indicators of the Village's debt position
-9-
The average yield on investments maturing during the year was 9.08%
and the amount of interest received was $816,938.
CAPITAL PROJECTS FUNDS
The proceeds of the general obligation bond issue are accounted for in
the capital projects fund until improvement projects are completed. At the
end of the fiscal year completed projects are transferred to general fixed
assets. During fiscal year 1979-1980, projects financed by general obligation
bonds and related interest on investments were completed at a cost of $1, 118,424.
WATERWORKS SYSTEM FUND
The Village's water utility showed only a modest increase in water
sales due to the attempt by commercial and residential customers to conserve
water. Connection charges decreased by 30% indicating a slow down in new
housing and commercial starts. Comparative data for the past two fiscal
years are presented in the following tabulation:
1980 1979
Water Sales $ 985,117 $ 979,462
Water Connection Charges 220,275 314,246
Interest on Investments 157,445 113,836
Total Operating Revenue 1 ,368,851 1,458,039
Total Operating Expenses 374,346 386,148
Retained Earnings 2,999,030 2,438,752
During the year, $225,000 of regularly maturing revenue bonds were retired
in the Waterworks System Fund.
SPORTS CORE OPERATING FUND
The 1980 financial statements reflect the first full seasonal year of
management by the Village. Operating revenue totaled $410,928 as follows:
-11-
Operation Amount of Total
Golf Course $ 31,675 7.7%
Bath & Tennis Club 160,097 38.9%
Open Field 49,209 12.0%
Food 107,739 26.2%
Beverage 49,184 12.0%
Interest Income 2,106 .5%
Miscellaneous Income 10,918 2.7%
$ 410,928 100.0%
Operating expenses totaled $401,866 and are summarized as follows:
Operation Amount % of Total
Golf Course $ 16,378 4.1%
Bath & Tennis Club 147,203 36.6%
Open Field 53,640 13.4%
Food 117,878 29.3%
Beverage 28,168 7.0%
General & Administration 38,599 9.6%
$ 401,866 100.0%
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 a Certified Public Accountant selected by the Board of Trustees.
This requirement has been complied with and the auditor's opinion has been
included in this report.
-12-
ACKNOWLEDGEMENTS
The preparation of this report on a timely basis could not be accom-
plished without the efficient and dedicated services of the entire staff of the
Finance Department and Department Heads of the Village. We wish to express
— our appreciation to those persons who have made possible the publication of
this report.
Respectfully submitted,
%Mtnbcs� e
Kennett G. Carmig7 7ni
Village Manager
athleen A. Gregory C
Finance Officer & Treasurer
-13-
Table I
I VILLAGE OF OAK BROOK, ILLINOIS
I General Governmental Expenditures by Function
ILast Ten Fiscal Years
Fiscal
Year Administration Police Fire Building Engineering Public Works Library Pension Insurance Total
I1980 $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 8829185 714,978 93,972 56,795 497,209 48,346 389,922 258,847 3,372,066
1978 319,670 712,034 628,507 86,428 761,074 254,755 41,772 339,943 207,215 2,666,398
I1977 368,902 707,421 624,661 783,111 71,530 225,542 36,084 2373,195 151,597 25,501,043
1976 381,669 688,536 593,024 74,076 58,437 238,476 23,590 200,868 112,194 2,370,870
I 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 14,480 158,502 745-399 1,627,131
1973 138,288 403,233 314,908 24,406 34,020 139,397 10,892 111,190 73,073 1,249,407
1972 127,660 343,979 230,857 22,499 25,431 107,429 5,846 87,962 61,284 1,012,947
I 1971 110,967 281,120 183,126 22,332 50,492 120,956 - 71,998 43,976 884,967
I
Includes expenditures of the Corporate Fund.
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I -82-
Table II
IVILLAGE OF OAK BROOK, ILLINOIS
General Revenues by Source
ILast Ten Fiscal Years
Licenses Other Charges Fines
Fiscal General and Inter- for and Investment
Year Sales Tax Permits Government Services Forfeits Interest Miscellaneous Total
1980 $4,697,077 $192,044 $184,740 $148,497 $ 88,678 $336,901 $517,825 $6,165,762
f 1979 3,286,830 215,235 165,992 240,561 103,367 203,992 32,646 4,2485,623
` 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 32052,114
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 1,903,959 833,216 90,456 31,149 50,087 177,006 162,553 23,498,426
1973 1,670,236 55,364 244,761 21,195 271,188 157,213 24,999 2,200,956
i1972 1,510,767 61,201 67,726 53,217 33,809 115,268 23,098 1,817,086
1971 1,396,536 44,650 41,378 15,198 12,700 85,878 37,177 1,633,517
IIncludes revenues of the Corporate Fund.
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Table III
iVILLAGE OF OAK BROOK, ILLINOIS
Assessed and Estimated Actual Value of Taxable Property
iLast Ten Fiscal Years
iRatio of Total
Real Property Personal Property Total Assessed/Total
i Fiscal Estimated Estimated Estimated Estimated
Year Assessed Actual Value Assessed Actual Value Assessed Actual Value Actual Value
i 1980 $213,643 $647,403 $ - $ - $213,643 $647,403 33.00%
1979 1849832 554,551 299230 87,699 214,062 642,250 33.33
i1978 163,202 489,655 229854 68,569 186,056 558,224 33.33
1977 143,620 430,860 20,767 62,301 164,387 493,161 33.33
i1976 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
i1974 109,890 330,894 13,729 41,339 123,619 372,233 33.21
i1973 103,295 285,819 10,784 29,839 114,079 315,658 36.14
1972 92,625 225,914 10,678 26,043 103,303 251,957 41.00
i1971 79,163 175,917 99882 21,960 89,045 197,877 45.00
iPersonal property tax not assessed as of 1980 due to enactment of
replacement property tax.
iNote--Dollar amounts in thousands.
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i -84-
f Table IV
IVILLAGE OF OAK BROOK, ILLINOIS
Property Tax Levies and Collections
ILast Three Fiscal Years
ITotal
Current Percent of Delinquent Total Collections
I Total Tax Levy Tax Tax as a Percent
Fiscal Year Tax Levy Collections Collected Collections Collections of Levy
1980 (1978 levy) $748,498 $726,176 97.02% $1, 132 $727,308 97. 17%
1979 (1977 levy) 843,838 823,267 97.56 1,696 824,963 97.76
I
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INote--The Village levies property taxes for debt service purposes
only and commenced such levies for fiscal 1979.
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I -85-
Table V
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* #502 #53 #86 District District
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
1973 6.110 - .833 .159 2.270 2.013 .245 .590
1972 5.895 - .794 .160 2.137 1.982 .260 .562
1971 5.998 - .802 .151 2.174 1.987 .180 .704
*Note--Includes all county, forest preserve and township rates.
-86-
Table VI
VILLAGE OF OAK BROOK, ILLINOIS
Computation of Legal Debt Margin
April 30, 1980
Assessed value $213 ,642 ,535
Debt limit 7.5% of assessed value $ 16,023,190
Debt applicable to debt limit:
General Obligation Recreation Bonds $10,000,000
Heritage/Pullman Bank lease purchase 689,110
Heritage/County Bank lease purchase 31,890
TOTAL APPLICABLE DEBT 1010721,000
LEGAL DEBT MARGIN $ 5,302,190
— -87-
Table VII
VILLAGE OF OAK BROOK, ILLINOIS
General Bonded Debt Data
April 30, 1980
Ratio of net general bonded debt to assessed
value and net bonded debt per capita for
fiscal year 1980:
Census population (1975) 52281
Assessed value $213,6422535
Gross bonded debt $ 10,000,000
-' Add: Debt Service. Fund balance-deficit 221 ,744
NET BONDED DEBT $ 10,221,744
Ratio of net bonded debt to assessed value 4.785%
NET BONDED DEBT PER CAPITA $ 1,936
Ratio of annual debt service expenditures for
general bonded debt to total general
expenditures for fiscal year 1980:
Principal amount $ 270,000
Interest .4772410
TOTAL DEBT SERVICE $ 7471410
TOTAL GENERAL EXPENDITURES $ 4,063,404
Ratio of debt service to general expenditures 18.394%
Schedule of net bonded debt--last ten fiscal years:
1980 $ 10,221,744
1979 10,153,761
1978 10,187,519
1977 and prior -
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Table VIII
VILLAGE OF OAK BROOK, ILLINOIS
Revenue Bond Coverage--Waterworks System Bonds
Last Five Fiscal Years
Fiscal Year 1980 1979 1978 1977 1976
Net income of Waterworks
System Fund $ 557,228 $ 743,542 $505,836 $ 646,795 $357,508
Add:
Depreciation 210,741 152,142 106,794 98,818 943,087
Interest expense 300,925 312,425 322,825 282,712 168,100
Amortization of bond
issuance costs 5,788 9,136 9,443 12,639 2,862
_ Amounts available for
revenue bond debt
service $1,074,682 $1,217,245 $944,898 $1,040,964 $622,557
Revenue bond debt
service:
Principal $ 225,000 $ 225,000 $200,000 $ 75,000 $ 50,000
Interest 3003P925 312,425 322,825 2823,712 168,100
$ 525,925 $ 537,425 $522,825 $ 357,712 $218,100
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Table IX
VILLAGE OF OAK BROOK, ILLINOIS
Building Permit Data
Last Ten Calendar Years
Residential Commercial/Industrial
Calendar Average Average
Year Number Value Value Number Value Value
1979 119 $17,487 ,392 $146,953 6 $18, 167,000 $3,027,833
1978 138 16,366,900 118,601 17 29,295,000 1,723,235
1977 132 14,9431921 113,212 13 10,050,000 773,077
1976 73 7,940,950 108,780 3 1,740,000 580,000
1975 39 4,379,000 112,282 5 14,040,000 2,808,000
1974 27 2,391,370 88$ 69 4 4$ 50,000 1,087,500
1973 50 4,145,784 82,916 14 44,408,472 3,172,034
1972 41 2,750,600 67,087 6 4,542,000 757,000
1971 51 3,249,576 63,720 9 10,194,251 1,019,425
1970 53 3,638,700 68,654 10 18,041,000 2,004,555
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Table X
I VILLAGE OF OAK BROOK, ILLINOIS
Insurance in Effect
Fiscal Year 1980-1981
Name of Company Policy Period
Type of Insurance (Policy Number) From To Amount of Coverage Premium
I Employee benefit programs liability St. Paul Insurance
Company
512TD2984 5-15-80 5-15-81 $100,000 each occurrence $ 154
Excess liability International Surplus
Lines Insurance
Company
XSI 6107 1-1-80 1-1-81 $5,000,000 each occurrence 5,000
Boiler and machinery insurance Chubb/Pacific Indemnity
E Group
7826-26-62 5-15-80 5-15-81 $1,000,000 each occurrence 208
I Treasurer's bond American Motorists
Insurance Company
9SM-061-900 4-13-80 4-13-81 $100,000 73
I Volunteer accident insurance Home Insurance Company
HVF-7-14-61 5-15-80 5-15-81 $17,500 each occurrence 860
Host Liquor Liability Continental Casualty
RDD006925030
Lloyds, London
IBL24008 11-24-79 11-24-80 $1,000,000 each occurrence 1,089
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
I compensation and surety risks not covered by the Village's Treasurer's
Bond. The Village's contribution to this cooperative agency for 1980 was
$110,587 and was determined by the pro rata share of each municipality's
audited revenues 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
I 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 catastrophe excess insurance
I over the amount of its $250,000 obligation and aggregate stop loss insur-
ance. The amount of excess insurance is $9,750,000 per occurrence for
property exposures, and $4,750,000 for vehicle, general liability and
workmen's compensation exposures. The Agency has contracted the services
of Gallagher Bassett Insurance Service for the claims administration
function.
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Table XI
VILLAGE OF OAK BROOK, ILLINOIS
Miscellaneous Statistical Data
April 30, 1980
1. Date of incorporation: 2-21-58
2. Form of government: Seven member Board of Trustees, including
President; Village Manager appointed by Board of
Trustees
3. Area--square miles: 8.5
4. Miles of streets: 53 miles
5. Fire protection: Number of stations: 2
_ Number of full-time employees: 33
Number of part-time employees: 35
Vehicular equipment units: 12
'— 6. Police protection: Number of employees: 32 sworn, 10 clerical
Detention facilities: 2 juvenile, 6 adult
Vehicles: 11
7. Recreation: Oak Brook Sports Core--269 acres including bath and
tennis club; 18-hole golf course to be in opera-
tion in 1980
Oak Brook Park District--66 acres including indoor
and outdoor tennis
DuPage County Forest Perserve--141 acres
8. Education: Brookforest Elementary School
223 students, 11 teachers
Butler Elementary School
283 students, 32 teachers
9. Water system: Number of customers: 312 commercial
3,755 residential
Gallons pumped by 1979-80: 1,046,045,000
10. Census data: 1960--324; 1970--4,164; 1975--5,281
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